Latest / Drawn of History / Dave Ramsey _ This Past Weekend w_ Theo Von _498(M4A_128K)

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Dave Ramsey _ This Past Weekend w_ Theo Von _498(M4A_128K) · Drawn of History

• 0:00
  Speaker 1: I have some new tour dates to tell you about.
• 0:02
  Speaker 1: I'll be in Boise, Idaho on June 28th at the
• 0:07
  Speaker 1: Extra Mile Arena. Idaho Falls, Idaho on June 29th at
• 0:11
  Speaker 1: the Hero Arena. And Salt Lake City, Utah on June
• 0:16
  Speaker 1: 30th at the Maverick Center. Pre-sale is active now for
• 0:21
  Speaker 1: these dates with code RATKING. General on sale starts Wednesday,
• 0:27
  Speaker 1: May 1st at 10 a.m.
• 0:28
  Speaker 2: Local time.
• 0:30
  Speaker 1: Today's guest is a financial advisor and a radio host.
• 0:34
  Speaker 1: You know him from The Ramsey Show, where he gives
• 0:37
  Speaker 1: advice to callers who have questions about their finances. He
• 0:41
  Speaker 1: has a two-day live stream event coming up later this month,
• 0:44
  Speaker 1: which we'll talk a little bit about. I'm grateful to
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  Speaker 1: spend time with him today, Mr. Dave Ramsey.
• 0:50
  Speaker 2: Shine that light on me. I can't believe.
• 1:06
  Speaker 3: You guys made my studio here, Dave.
• 1:22
  Speaker 2: We just want you to be home and come back again. Well, yeah,
• 1:26
  Speaker 2: I'll stay. Anytime. I'll stay, man. Apparently, it's no big deal.
• 1:31
  Speaker 1: I didn't know you guys had an Airbnb. You guys
• 1:32
  Speaker 1: are running Airbnbs here. Yeah, we totally replicated my studio
• 1:38
  Speaker 1: here in your Ramsey. Is this a campus, pretty much?
• 1:42
  Speaker 2: Yeah, I guess that's what we call it.
• 1:43
  Speaker 1: Yeah. And is it so you have investment? What's on
• 1:48
  Speaker 1: the campus? Because it's beautiful.
• 1:50
  Speaker 2: Well, thank you. Thank you. We've got two office buildings and,
• 1:53
  Speaker 2: of course, the main lobby area where we broadcast the
• 1:55
  Speaker 2: shows on the Glasgow. So the area for the public
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  Speaker 2: to come in and hang out while we're doing the shows.
• 2:00
  Speaker 2: And then we've got a 2,500-seat auditorium up on the
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  Speaker 2: hill up there that we do events in.
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  Speaker 1: Wow.
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  Speaker 2: The event center. So it's been quite an adventure.
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  Speaker 1: Like what type of events will you do up there?
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  Speaker 2: Well, we do our Ramsey events. I mean, we've got–
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  Speaker 2: number one, we've got 1,100 team members. So we do
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  Speaker 2: staff meeting up there and devotional on Wednesday up there.
• 2:21
  Speaker 2: And then– but we'll do– weekend long events. We've got
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  Speaker 2: a money and marriage event with Rachel Cruz, my daughter,
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  Speaker 2: and Dr. John Deloney, two of our Ramsey personalities in
• 2:29
  Speaker 2: the fall. It'll be mammoth. We'll have it sold out
• 2:33
  Speaker 2: here in a couple of weeks for a total money
• 2:34
  Speaker 2: makeover weekend. So it's public coming in for public events
• 2:38
  Speaker 2: to learn something that we're doing usually around the money
• 2:40
  Speaker 2: subject or the leadership subject. We use it for our
• 2:42
  Speaker 2: entree leadership stuff. So it stays pretty busy. Wow.
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  Speaker 1: Yeah, it's remarkable. Dave Ramsey, man. Yeah, thanks so much, man.
• 2:51
  Speaker 1: So just for a lot of our viewers will know you,
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  Speaker 1: but some who wouldn't. So you started out in finance.
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  Speaker 1: How did you get in? What made you care about
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  Speaker 1: money out of the gate? Did you guys have allowance
• 3:02
  Speaker 1: issues in the home?
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  Speaker 2: Yeah, we did. You did? Yeah, we were not on allowance.
• 3:06
  Speaker 2: We were on commission. Work, get paid. Don't work, don't
• 3:08
  Speaker 2: get paid. So yeah, I grew up in a blue-collar neighborhood,
• 3:12
  Speaker 2: so daddy believed in work. Like real work. Like I
• 3:17
  Speaker 2: was 12 years old and I came in and said,
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  Speaker 2: I need some money to go to the quick sack
• 3:20
  Speaker 2: and get an IC. And he said, no, you need
• 3:22
  Speaker 2: a job. I said, what could you do? And I said, well,
• 3:25
  Speaker 2: I guess I could cut grass. And he took me
• 3:27
  Speaker 2: down here on Nolensville road and printed up 500 business
• 3:30
  Speaker 2: cards that said Dave's lawns. Go knock on the closest
• 3:34
  Speaker 2: 50 doors and ask the opportunity to provide their lawn
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  Speaker 2: care needs. So at 12, I ended up with 27
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  Speaker 2: yards to cut. So I think they call that child
• 3:42
  Speaker 2: abuse now.
• 3:43
  Speaker 1: Yeah.
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  Speaker 3: Yeah.
• 3:44
  Speaker 1: Well, yeah, I think if you force a kid to
• 3:46
  Speaker 1: get a job nowadays, I think protective services will come
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  Speaker 1: and get you.
• 3:49
  Speaker 2: That's exactly right.
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  Speaker 1: Sometimes it can be like that. It can be kind
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  Speaker 1: of alarming.
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  Speaker 2: There wasn't a protective service that would have protected them
• 3:55
  Speaker 2: from my parents. So anyway, we grew up doing that,
• 4:00
  Speaker 2: and then I started buying and selling real estate in
• 4:02
  Speaker 2: my 20s and got rich starting from nothing. At least
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  Speaker 2: where I came from. I mean, I had a million-dollar
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  Speaker 2: net worth, and I was making $ 20, 000 a month in 1983. Oh, yeah.
• 4:14
  Speaker 2: That's rich. Where were you driving? A Jag. Because none
• 4:18
  Speaker 2: of my friends could spell Jaguar, so I needed a Jaguar.
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  Speaker 2: But I'd done stupid stuff and too much debt, and
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  Speaker 2: the bank got sold, called our notes, and spent the
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  Speaker 2: next three years of our life losing everything. And that's
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  Speaker 2: what made me care about money, to answer your question.
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  Speaker 1: Wow, because if you go to a high pretty early,
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  Speaker 1: that's wild.
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  Speaker 2: Yeah.
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  Speaker 1: So did you think at that point you thought, oh,
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  Speaker 1: this is it, life's just going to.
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  Speaker 2: Be a— Yeah, I thought I had it all dialed in,
• 4:45
  Speaker 2: and I had nothing dialed in. Dang. I was stupid
• 4:48
  Speaker 2: on steroids, yeah. And so we, with a brand-new baby
• 4:52
  Speaker 2: and a toddler and a marriage hanging on by a thread,
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  Speaker 2: we got the opportunity to start again in 1988, September 23rd. Well,
• 4:58
  Speaker 2: you remember it like that.
• 5:02
  Speaker 1: Yeah.
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  Speaker 2: Well, I mean, it's the day we filed bankruptcy. That's a, that's,
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  Speaker 2: that's like, that's hell day, you know?
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  Speaker 1: Do you have to go to the bank to file
• 5:09
  Speaker 1: it or how do you do it? No, it's a
• 5:10
  Speaker 1: federal court. It's a nice little procedure that you go through. That's, um,
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  Speaker 1: pretty intimidating, but. And what do you, were you still like,
• 5:19
  Speaker 1: did your, was your dad still like a mentor at
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  Speaker 1: that point for business or anything?
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  Speaker 2: Was that like? No, no, they had, they had moved
• 5:24
  Speaker 2: away by then. And I had guys around here that were,
• 5:27
  Speaker 2: that were family friends and stuff that we'd grown up with. But, um, Wow.
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  Speaker 2: But I had started a faith journey. I had met
• 5:35
  Speaker 2: God as an adult because I was pretty much a
• 5:39
  Speaker 2: wild character in my youth. And so I started finding
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  Speaker 2: out that the Bible said something about money, and then
• 5:46
  Speaker 2: I started talking to old rich people, and both of
• 5:49
  Speaker 2: these things said just common sense. Just live on less
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  Speaker 2: than you make. Have a plan. Get out of debt. And,
• 5:57
  Speaker 2: you know, I've got all these degrees and letters and
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  Speaker 2: licenses and crap after my name that says I'm supposed
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  Speaker 2: to know something about money, but I was broke. And
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  Speaker 2: so I need a new set of information. So I
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  Speaker 2: found common sense and started using it. And then people
• 6:09
  Speaker 2: started asking us, okay, how did you turn your life
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  Speaker 2: around after all that garbage? And this is what we did.
• 6:14
  Speaker 2: And they went, can we do it? And I'm like, yeah.
• 6:16
  Speaker 2: And we started showing people. And then, you know, 35
• 6:19
  Speaker 2: years later, here we are showing people, millions of them. Yeah, no,
• 6:23
  Speaker 2: it's unbelievable.
• 6:24
  Speaker 1: I mean, everybody knows Dave Ramsey and everybody's had you know,
• 6:27
  Speaker 1: has used you for financial guidance and stuff over the
• 6:30
  Speaker 1: years or, um, or gone to you with certain questions.
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  Speaker 1: I know you guys take so many questions on your
• 6:35
  Speaker 1: show and with that turnaround moment, was there like, did
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  Speaker 1: it lead you to be like, I need more than
• 6:41
  Speaker 1: just believing that finances are going to take care of
• 6:44
  Speaker 1: me or like, yeah, I think.
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  Speaker 2: That's probably part of the, part of the journey there.
• 6:48
  Speaker 2: I mean, somebody said, how'd you bounce back? And I'm like, dude,
• 6:50
  Speaker 2: when you fall that far, you don't really bounce. It's splat. So,
• 6:55
  Speaker 2: you know, we hit, we sat around, whined and moaned
• 6:57
  Speaker 2: and blamed everybody else for about a year and, you know,
• 7:01
  Speaker 2: figured out finally it wasn't everybody else's fault. It was
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  Speaker 2: my fault. I caused it. I'm the idiot signed up
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  Speaker 2: for the trip and got to take it. So I
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  Speaker 2: had to, you know, I had to course correct and adjust.
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  Speaker 2: And so, yeah, I think our faith, our new faith
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  Speaker 2: at that point, it was very young and uh, tender
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  Speaker 2: and not a lot of knowledge or anything. But anyway, we're,
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  Speaker 2: we're just trying to figure out how do you navigate
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  Speaker 2: with two little babies and sitting here broke. And, you know,
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  Speaker 2: my wife's from the hills of East Tennessee frying pan throwing,
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  Speaker 2: there's an Olympic event, you know what I mean? It's like,
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  Speaker 2: it's a hillbilly woman. So it was, it was rough.
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  Speaker 2: And so we about killed each other and, uh, I
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  Speaker 2: think she would have left, but she didn't have a car. So, um,
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  Speaker 2: but yeah, the, uh, so I mean, that's the stuff
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  Speaker 2: that we did. And, but again, gradually we just sat
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  Speaker 2: down with the yellow pad and said, okay, here's what
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  Speaker 2: we have coming in. We can't spend more than that.
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  Speaker 2: And we're always going to give some, we're always going
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  Speaker 2: to save some and we're going to feed ourselves. And
• 7:53
  Speaker 2: then what do we do next? And then the next
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  Speaker 2: week and then the next week. And okay, now we
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  Speaker 2: got to get a little bit better and started gradually
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  Speaker 2: getting our income back up. And, um, it was, it
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  Speaker 2: was not a bounce back. It was years. It feels like,
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  Speaker 2: but then, you know, it, uh, the, Thing about this stuff,
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  Speaker 2: this common sense thing, it's not a microwave. It's a
• 8:12
  Speaker 2: crock pot. Yeah. It cooks up good, but it takes
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  Speaker 2: a while. It takes a long while, yeah.
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  Speaker 1: And then sometimes you realize you look in the thing
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  Speaker 1: and you're like, I don't even have this thing plugged
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  Speaker 1: in either.
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  Speaker 2: There's that too, yeah. There's that problem.
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  Speaker 1: You're just sitting there watching a bowl of cold meat
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  Speaker 1: water for eight hours.
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  Speaker 2: Sounds like it's from experience. Might have just happened, yeah.
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  Speaker 1: I've been through some things, yeah. Well, if you don't
• 8:35
  Speaker 1: have a wife, you have a crock pot.
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  Speaker 2: This is true.
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  Speaker 1: I mean, it's definitely, and it's a sad day for
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  Speaker 1: a man when you realize, you're like, oh, damn, this is,
• 8:45
  Speaker 1: you know, when you go in to get your crock pot,
• 8:47
  Speaker 1: you know.
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  Speaker 2: That's signing up for it right there. It is, really.
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  Speaker 1: And you name, or some people name it after a woman,
• 8:55
  Speaker 1: and I'm like, well, this is getting a little crazy,
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  Speaker 1: I feel like. But when you look at, like, yeah, like,
• 9:00
  Speaker 1: when I think back on jobs that I had, like,
• 9:02
  Speaker 1: I was, you know, I sold clothes. I used to
• 9:05
  Speaker 1: sell hamsters outside of raves when I was young.
• 9:09
  Speaker 2: I've sold.
• 9:10
  Speaker 1: I worked in dairy. I sold Mexican food door to door.
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  Speaker 1: I used to clean out wishing wells in our town.
• 9:17
  Speaker 1: We had a plethora of wells in our parish.
• 9:21
  Speaker 2: What else?
• 9:22
  Speaker 1: Collecting cans and taking them over to the scales.
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  Speaker 2: I sold.
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  Speaker 1: Italian or semi-Italian food. Just all types of things. And...
• 9:33
  Speaker 1: I try to offer suggestions to like people that were
• 9:36
  Speaker 1: like me growing up. Like, how do you find a
• 9:38
  Speaker 1: job that could start to change? Like if you don't
• 9:43
  Speaker 1: have much and I often go to like pressure wash
• 9:46
  Speaker 1: and that's what I'll tell people. You buy a pressure wash,
• 9:49
  Speaker 1: you can get a pretty good one for about 600
• 9:50
  Speaker 1: bucks and then you can start a business. You can
• 9:53
  Speaker 1: make your Dave's lawn care cards and next, you know,
• 9:56
  Speaker 1: two weeks later you're a dang business owner, you know,
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  Speaker 1: or the suggestions like you have like that for people
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  Speaker 1: that are like, you know, like, and it can be
• 10:05
  Speaker 1: a first job, even like, what do I start? I mean,
• 10:06
  Speaker 1: lawn care is a great one. Yeah.
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  Speaker 2: I mean, it's amazing to me what people will pay
• 10:11
  Speaker 2: you to do if you're just willing to go do
• 10:13
  Speaker 2: it and you show up on time. And then I
• 10:16
  Speaker 2: think the piece that goes with that is, okay, you
• 10:18
  Speaker 2: don't want to, start pressure washing and go, Hey, I
• 10:22
  Speaker 2: want to be 63 years old, which is what I
• 10:24
  Speaker 2: am and still be pressure washing. That's not a plan
• 10:27
  Speaker 2: to get you through this week. You can do a battle.
• 10:29
  Speaker 2: You can do a lot of pressure washing. You're right.
• 10:30
  Speaker 2: That you turn into a car deal, detail company, and
• 10:33
  Speaker 2: then turn it into something else and then sell that
• 10:35
  Speaker 2: and do something else. And what I figured out was
• 10:38
  Speaker 2: these wealthy people, um, they, uh, they don't think, thank
• 10:42
  Speaker 2: God it's Friday. Oh God, it's Monday. They're not living
• 10:46
  Speaker 2: for the weekend.
• 10:46
  Speaker 1: Right.
• 10:47
  Speaker 3: Yeah.
• 10:47
  Speaker 2: They're, they're, um, You know, every move they make is
• 10:50
  Speaker 2: a step towards where I want to be in 10 years,
• 10:53
  Speaker 2: who I want to become. And so, okay, I might
• 10:57
  Speaker 2: be pressure washing so I can get the money to
• 10:59
  Speaker 2: go to code school and pay $ 10, 000 and go to
• 11:02
  Speaker 2: code school. Oh, then you can make $ 150 a year coding, right?
• 11:06
  Speaker 2: And so what's a step? What's the method to get there?
• 11:09
  Speaker 2: What's the path to get there?
• 11:11
  Speaker 1: Right.
• 11:12
  Speaker 2: The problem I think sometimes is if you take a,
• 11:14
  Speaker 2: feel like you're taking a job like that, and I've
• 11:15
  Speaker 2: done all that, not exact same thing, but I've done
• 11:17
  Speaker 2: a bunch of crappy jobs too, uh, and entrepreneurial things. And,
• 11:21
  Speaker 2: you know, I buy an old car, a repo lot
• 11:23
  Speaker 2: and come home, fix it up, put it back on
• 11:25
  Speaker 2: the market. And back in those days, there were classified
• 11:27
  Speaker 2: ads in the newspaper. Oh yeah. And so we'd sell,
• 11:30
  Speaker 2: turn around, sell the car. And, or buy a bunch
• 11:33
  Speaker 2: of junk at some auction. I was there by the house,
• 11:35
  Speaker 2: but I'd buy half the estate and then put it in,
• 11:37
  Speaker 2: turn it into a garage sale next week. Oh, yeah.
• 11:39
  Speaker 1: You got a damn Pontiac full of candelabras or.
• 11:41
  Speaker 2: Something you're driving off with. You get some deals on stuff.
• 11:44
  Speaker 2: And so it was a lot of fun. Horse trading,
• 11:46
  Speaker 2: we called it growing up, but no horses involved, but
• 11:49
  Speaker 2: there was, you know, somebody knew how to buy something
• 11:50
  Speaker 2: and flip it over. Or go to the police auction.
• 11:52
  Speaker 1: That was always a big thing.
• 11:53
  Speaker 2: Yeah, that's a lot of fun. There's some weird stuff there, man.
• 11:56
  Speaker 2: Is there? But yeah. And the, all that stuff. And so,
• 12:01
  Speaker 2: but it needs to be, That that's not where you're staying.
• 12:04
  Speaker 2: It's a path of where you're going. And, you know,
• 12:08
  Speaker 2: that changes everything. It's like, you know, even your, you know,
• 12:11
  Speaker 2: this meteoric, fabulous, famous career that you've done. I mean,
• 12:14
  Speaker 2: you're just, man, amazing. Congratulations. Thanks, man. But, I mean,
• 12:19
  Speaker 2: there's a lot of bad comedy clubs in the lineup. Oh, yeah.
• 12:26
  Speaker 2: With wrong people in the audience before you get to.
• 12:30
  Speaker 2: be the Theo Vaughn of today. You know, there's a
• 12:33
  Speaker 2: price to be paid to win. You don't, you don't win,
• 12:36
  Speaker 2: you know, you're an overnight success. Yeah. I worked my
• 12:39
  Speaker 2: butt off for 30 years to be an overnight success.
• 12:41
  Speaker 2: You've worked your butt off for a decade plus to
• 12:44
  Speaker 2: be an overnight success. And just cause somebody found you
• 12:46
  Speaker 2: on Netflix last week, that doesn't mean you just started
• 12:48
  Speaker 2: on that. I don't know how it happened.
• 12:50
  Speaker 1: Right. Yeah. I mean, even when I think back, like
• 12:52
  Speaker 1: I used to get all these comments, I would get
• 12:54
  Speaker 1: all the email cards and go before the shows and
• 12:57
  Speaker 1: put them on all the tables so I could get
• 12:58
  Speaker 1: back in touch with people. I would buy the CD
• 13:02
  Speaker 1: or DVD burner and burn a DVD and then sell
• 13:05
  Speaker 1: it after the show. I'd burn it. I remember when
• 13:08
  Speaker 1: I got a three-disc burner, so I could burn three
• 13:11
  Speaker 1: at a time.
• 13:12
  Speaker 2: Wow. What did those sell for, man?
• 13:15
  Speaker 1: They were probably $ 300, $ 400. Wow. You could get that
• 13:19
  Speaker 1: little stack.
• 13:20
  Speaker 2: I'm not talking about the burner. What were you selling
• 13:21
  Speaker 2: the CDs for? The CDs for?
• 13:23
  Speaker 1: Probably $ 10, but I'd take $ 8.
• 13:27
  Speaker 2: And volume discount, too. If you want 10 of them
• 13:30
  Speaker 2: to give for Christmas presents, I'll set you up.
• 13:32
  Speaker 1: Oh, I sold one to a lady one time. This
• 13:34
  Speaker 1: was in Mishawaka, Indiana. She bought one. She drove three
• 13:37
  Speaker 1: hours home. She said it didn't work, and she drove
• 13:39
  Speaker 1: back the next day to come and change it. I
• 13:41
  Speaker 1: was like, it's just a dang $ 8. She spent more
• 13:44
  Speaker 1: in gas, but I guess it was just the point
• 13:47
  Speaker 1: of making sure she got what she paid for, which
• 13:49
  Speaker 1: I understand. But, yeah, when I think about all the
• 13:52
  Speaker 1: different things or missing certain, like, events in people's lives
• 13:55
  Speaker 1: or something at work, like, sometimes I wish I had
• 13:59
  Speaker 1: a little bit better balance. But I also liked working,
• 14:04
  Speaker 1: you know. I think I really liked it. But, yeah,
• 14:07
  Speaker 1: I don't think it's as easy as having, like, things evolve, though, too. Like,
• 14:13
  Speaker 1: one thing I'm thinking, say, if you start a pressure washing, right,
• 14:15
  Speaker 1: you're going to start to learn how to do business, right?
• 14:18
  Speaker 1: That's something you don't realize you're going to learn by
• 14:20
  Speaker 1: starting a business sometimes is that you're going to learn
• 14:22
  Speaker 1: how to do business. And next thing you know, you
• 14:24
  Speaker 1: might have an employee. And then you're like, oh, wow,
• 14:27
  Speaker 1: now I'm an employer. I've never been an employer. What's
• 14:30
  Speaker 1: that like? And you just learn like you'll do taxes
• 14:33
  Speaker 1: in business that you'll file for LLC. You'll do all
• 14:36
  Speaker 1: these things. And then you're just building up knowledge. And
• 14:38
  Speaker 1: then part of you or for me, I notice will
• 14:41
  Speaker 1: start to bloom a little bit and be like, well,
• 14:45
  Speaker 1: now what else do I want to do? Because you've
• 14:47
  Speaker 1: seen one thing that you tried and started with, you've
• 14:50
  Speaker 1: seen it work. Or not work, even. You've learned that, hey,
• 14:53
  Speaker 1: it didn't work out. But, yeah, the more, like, kind
• 14:57
  Speaker 1: of steps you take into doing business, the more that
• 15:00
  Speaker 1: you become somebody who walks like a business guy in
• 15:04
  Speaker 1: some ways.
• 15:05
  Speaker 2: Well, you change your identity. You change who you are.
• 15:07
  Speaker 2: I mean, I'm not the little redneck hillbilly kid hell-raising
• 15:11
  Speaker 2: that I was when I was in high school. I
• 15:13
  Speaker 2: got a lot less hair, for one thing. But I'm
• 15:14
  Speaker 2: also not that guy anymore.
• 15:15
  Speaker 1: Yeah.
• 15:16
  Speaker 2: For that matter, I've been married 43 years. My wife's
• 15:18
  Speaker 2: not married the same guy she married 43 years ago.
• 15:20
  Speaker 2: Thank God, because he wasn't much.
• 15:22
  Speaker 1: Yeah. What kind of hair do you have? Something good?
• 15:26
  Speaker 2: Not as good as yours.
• 15:27
  Speaker 3: Yeah.
• 15:28
  Speaker 2: I never got that, but I had that 70s thing
• 15:30
  Speaker 2: going with the little feathers on the side. You remember those? Yeah.
• 15:33
  Speaker 2: You don't remember them, but you've seen pictures.
• 15:34
  Speaker 3: Oh, yeah.
• 15:35
  Speaker 2: The problem with the part down the middle is the
• 15:36
  Speaker 2: part gets white if you're not careful. Yeah, yeah.
• 15:41
  Speaker 1: Dude, what would you say to, like, like somebody who's
• 15:43
  Speaker 1: going into business with a friend, that's one thing I
• 15:45
  Speaker 1: think about a lot of times, what are things like
• 15:47
  Speaker 1: a partnership with a friend, right? Or starting a partnership
• 15:49
  Speaker 1: with just a new business person. I mean, it can
• 15:51
  Speaker 1: even be a spouse. Like, what do you say, like,
• 15:54
  Speaker 1: what are pitfalls that people can look out for in
• 15:56
  Speaker 1: advance of that kind of stuff?
• 15:58
  Speaker 2: Well, I mean, the biggest thing we run into, uh,
• 16:01
  Speaker 2: we coach about 10,000 businesses with the entre leadership brand,
• 16:04
  Speaker 2: small businesses, and they're anywhere from five to 200 team
• 16:08
  Speaker 2: member size. And so, What I tell those guys, and
• 16:11
  Speaker 2: I'll be speaking to them, you know, we do an
• 16:13
  Speaker 2: event with about 3,000 of them once a year. I'll
• 16:15
  Speaker 2: be speaking to them in the next couple weeks here.
• 16:17
  Speaker 2: And so one of the things we tell them is
• 16:21
  Speaker 2: really your beer drinking buddy and you sitting around talking
• 16:24
  Speaker 2: about opening a business is a bad idea. You know,
• 16:27
  Speaker 2: one of y'all needs to open it and the other
• 16:28
  Speaker 2: one needs to work there. And you can pay him
• 16:30
  Speaker 2: out of the profits if you want. You can be generous.
• 16:33
  Speaker 2: But somebody, anything with two heads is a monster. And
• 16:36
  Speaker 2: the only ship on sale is a partnership. So generally speaking,
• 16:38
  Speaker 2: don't do a partnership, generally. Now, if you're going to
• 16:41
  Speaker 2: have friends work on your team, which, I mean, I
• 16:43
  Speaker 2: got a bunch of them. A bunch of my team
• 16:44
  Speaker 2: is friends. And they either became friends while they're here
• 16:47
  Speaker 2: or they were friends and then they came here. I've
• 16:49
  Speaker 2: got family in the building. My kids work here in
• 16:52
  Speaker 2: their 30s. And so how do you navigate that? Well,
• 16:57
  Speaker 2: we had to learn from a family business perspective, and
• 16:59
  Speaker 2: it works for friends as well, to separate the hat
• 17:04
  Speaker 2: that we wear. And so my hat that I wear
• 17:07
  Speaker 2: with my buddy, you know, it's friend and, you know,
• 17:10
  Speaker 2: we're having a cigar together or playing golf or we're
• 17:13
  Speaker 2: doing whatever. It says friend on it, right?
• 17:15
  Speaker 1: Fantasy football.
• 17:16
  Speaker 2: Yeah. Whatever. And so, but when we're at work, my
• 17:20
  Speaker 2: hat says CEO.
• 17:21
  Speaker 1: Right.
• 17:22
  Speaker 2: And his says, you know, technology or whatever. And so
• 17:26
  Speaker 2: you do your job. I'll do my job and I'm
• 17:30
  Speaker 2: going to treat you like I would treat the other
• 17:32
  Speaker 2: team members. because I treat them all nice and good
• 17:35
  Speaker 2: and with dignity. I don't yell and scream and cuss
• 17:38
  Speaker 2: at people. So, I mean, we treat them right. And
• 17:40
  Speaker 2: you're going to treat me with the same respect that
• 17:44
  Speaker 2: you would if you worked in a place where the
• 17:46
  Speaker 2: CEO walked in the room. Not that you bow or
• 17:48
  Speaker 2: something like that, but you don't roll your eyes and
• 17:51
  Speaker 2: go– you don't use friend talk at your CEO. And
• 17:55
  Speaker 2: so you change hats. You can't run up and tickle
• 17:56
  Speaker 2: them or whatever. Well, that's strange. But, yeah. But the–
• 18:02
  Speaker 2: But the idea being that, like, my kids, you know,
• 18:06
  Speaker 2: my daughter, Rachel Cruz, is a huge personality. Three, four
• 18:10
  Speaker 2: number one bestsellers and, you know, speaks all over America,
• 18:13
  Speaker 2: is constantly on the network TV and stuff. And we've
• 18:16
  Speaker 2: got eight of those people that are personalities that do
• 18:19
  Speaker 2: different things. And so she gets paid, not as my daughter,
• 18:24
  Speaker 2: but based on the work that she does there. And
• 18:28
  Speaker 2: then when I'm, you know, she's got three of my grandkids,
• 18:31
  Speaker 2: so when... I got Papa Dave hat on when I'm
• 18:34
  Speaker 2: with the grandbabies at Thanksgiving dinner. But when we're here,
• 18:36
  Speaker 2: I'm dealing with her. Everybody in the room knows she's
• 18:40
  Speaker 2: my daughter, but I treat her the same way I
• 18:42
  Speaker 2: would treat Dr. John Deloney or Ken Coleman, the other
• 18:44
  Speaker 2: personalities as well. So you just got to separate that
• 18:47
  Speaker 2: and wear different hats. So when you're wearing your friend hat,
• 18:50
  Speaker 2: then act that way. And, you know, when you're at work,
• 18:53
  Speaker 2: you're wearing this hat and, you know, you've got to perform,
• 18:55
  Speaker 2: I've got to perform. And so family doesn't get a
• 18:59
  Speaker 2: pass and a friend doesn't get a pass for incompetence
• 19:02
  Speaker 2: or you know, just, I'm not going to come to
• 19:04
  Speaker 2: work today. No, that's not how we, we're all coming
• 19:06
  Speaker 2: to work today.
• 19:07
  Speaker 3: Yeah.
• 19:08
  Speaker 1: If you are going into business with a friend, what
• 19:10
  Speaker 1: are something that people can like, what discussions need to
• 19:13
  Speaker 1: be had up front? Say you're going into a partnership
• 19:15
  Speaker 1: with a buddy, you know, so you don't run into
• 19:17
  Speaker 1: lawsuits down the line.
• 19:19
  Speaker 2: Yeah. Well, you may, nothing you do keeps you from,
• 19:22
  Speaker 2: I mean, people can file a lawsuit for anything, even
• 19:26
  Speaker 2: if it's not true, they can just make up something.
• 19:28
  Speaker 2: So it's, and they do, we've run into that, but
• 19:32
  Speaker 2: What we tell folks, if you're going to do a partnership,
• 19:33
  Speaker 2: make sure you've got really good documentation. And the best
• 19:37
  Speaker 2: thing you can do is talk through and have in
• 19:39
  Speaker 2: the document all the bad things that can happen. And
• 19:43
  Speaker 2: a lot of them are D's divorce drug use disinterest
• 19:49
  Speaker 2: I don't want to work anymore disability death you know
• 19:54
  Speaker 2: what happens when these things happen so because you may
• 19:57
  Speaker 2: be just great working with your buddy and he owns
• 20:00
  Speaker 2: half the company but his wife's cuckoo and he dies
• 20:05
  Speaker 2: and Now you're partnered with Cuckoo.
• 20:07
  Speaker 1: Yeah.
• 20:07
  Speaker 2: You know, that's a bad plan. So you need to
• 20:09
  Speaker 2: have this laid out, what's going to happen in these situations.
• 20:13
  Speaker 2: I mean, you know, I've had a guy working here
• 20:16
  Speaker 2: that was one of our top leaders many years ago,
• 20:20
  Speaker 2: got MS. He was driving home, six miles home, got
• 20:24
  Speaker 2: lost on the way home, brain lesions. And so he
• 20:27
  Speaker 2: obviously became disabled. So what happens to that guy? He
• 20:32
  Speaker 2: was one of my top guys. He was great. You know,
• 20:34
  Speaker 2: he's paid off the bottom line like he was a partner.
• 20:37
  Speaker 2: And just a wonderful man. He's passed away now. And,
• 20:41
  Speaker 2: you know, how do you treat him? How do you
• 20:42
  Speaker 2: treat his family in the worst-case scenario? And how are
• 20:46
  Speaker 2: you going to take care of them? Because you want
• 20:47
  Speaker 2: to take care of your buddy. You don't want your
• 20:49
  Speaker 2: buddy's kids to be homeless because something happened to him
• 20:52
  Speaker 2: if he's your partner. In this case, this guy was
• 20:55
  Speaker 2: one of my right arms, you know. So you just
• 20:57
  Speaker 2: got to think that stuff through because it's going to come.
• 21:00
  Speaker 2: Something's going to come at you. And if you haven't
• 21:02
  Speaker 2: anticipated it, Because everybody goes into this stuff like, oh,
• 21:05
  Speaker 2: it's all going to work. Nothing works like it's supposed
• 21:08
  Speaker 2: to work ever. It never works. It's never as easy
• 21:11
  Speaker 2: as it sounds when you're sitting and talking about it
• 21:13
  Speaker 2: the first time. Yeah.
• 21:15
  Speaker 1: Did you find yourself having unrealistic expectations about going into
• 21:18
  Speaker 1: business spaces? That's some things that I've struggled with in
• 21:21
  Speaker 1: my life, especially recently. It's like just unrealistic expectations that
• 21:25
  Speaker 1: things are going to work or that they should be
• 21:27
  Speaker 1: a certain way. Like not leaving space for Anything really.
• 21:32
  Speaker 1: Trying to just really have a lot of my own will,
• 21:34
  Speaker 1: I guess, in some ways it is. But also it's just.
• 21:37
  Speaker 2: You know, observing you from the outside, I think you
• 21:39
  Speaker 2: probably suffer from this intense desire to be excellent.
• 21:44
  Speaker 1: Yeah.
• 21:45
  Speaker 2: And all that means is you're excellent. And so if
• 21:50
  Speaker 2: you demand that of yourself, it's okay to demand that
• 21:53
  Speaker 2: of the situation of the project, any of the people.
• 21:56
  Speaker 2: I work my tail off. And so I don't hesitate
• 21:59
  Speaker 2: if somebody's not excellent. To go, hey, come on, pick
• 22:03
  Speaker 2: it up.
• 22:04
  Speaker 3: Right.
• 22:04
  Speaker 2: You know, it's not like I'm kicking back and asking
• 22:07
  Speaker 2: you to go. No, I'm going. Right. So keep up. Right.
• 22:11
  Speaker 2: And same thing with a project. We get on these
• 22:13
  Speaker 2: projects now. So I do. I still have unrealistic expectations.
• 22:17
  Speaker 2: I do have a reality perception after 30 freaking years
• 22:21
  Speaker 2: of doing stupid stuff. Yeah. I mean, I'm convinced we've
• 22:24
  Speaker 2: survived about 90% of our ideas. Everything good that's happened
• 22:28
  Speaker 2: happened on about 10% of them. But when you're starting it,
• 22:31
  Speaker 2: I mean, you're going for a walk in the morning and, uh,
• 22:33
  Speaker 2: you know, or you're, you're, uh, sitting on the dock,
• 22:36
  Speaker 2: having a cup of coffee at the lake and you
• 22:38
  Speaker 2: had this idea, they're all good then, you know, but
• 22:41
  Speaker 2: when you're, you know, half a million dollars in and
• 22:43
  Speaker 2: you go, Oh, this sucks. This is awful. And so you,
• 22:47
  Speaker 2: you come to the realization that even though we demanded excellence,
• 22:50
  Speaker 2: even though we drove the lane, put the ball in
• 22:51
  Speaker 2: the hoop, even though we didn't have product market fit,
• 22:54
  Speaker 2: something's off, pricing's off, something's off. And, um, I mean,
• 22:58
  Speaker 2: but if you're not trying stuff, you're not growing.
• 23:02
  Speaker 1: Right.
• 23:02
  Speaker 2: You got to try stuff, but you're going to screw
• 23:04
  Speaker 2: up a lot of it, even though you demand excellence.
• 23:07
  Speaker 2: But I don't have a hesitation at all expecting excellence
• 23:11
  Speaker 2: and expecting it. You know, why would you enter something
• 23:13
  Speaker 2: you didn't think was going to work? Of course we
• 23:15
  Speaker 2: think it's going to work.
• 23:16
  Speaker 1: Yeah.
• 23:17
  Speaker 2: You know, like a stupid reporter the other day is like,
• 23:19
  Speaker 2: did you ever have any idea it would be this big?
• 23:21
  Speaker 2: And I'm like, well, of course I did. I'm getting
• 23:24
  Speaker 2: people out of debt. They're like, everybody is my market,
• 23:27
  Speaker 2: you know? Of course I thought it, but what I
• 23:29
  Speaker 2: didn't know is how much work it was going to be.
• 23:30
  Speaker 2: I didn't have any idea I was going to have
• 23:31
  Speaker 2: $ 100 million in payroll. I didn't have any idea that
• 23:35
  Speaker 2: it was going to take that to do it, but
• 23:37
  Speaker 2: I knew there was a lot of need. I knew
• 23:38
  Speaker 2: that it could be big, but I didn't know how
• 23:41
  Speaker 2: bad it was going to be, how hard it was
• 23:42
  Speaker 2: going to be.
• 23:43
  Speaker 1: Yeah, I think that's the thing that, you know what,
• 23:45
  Speaker 1: that's funny when I hear you say that because, yeah,
• 23:48
  Speaker 1: like I started to get busier with, stuff that was business.
• 23:51
  Speaker 1: I just wanted to be a comedian, you know, and
• 23:53
  Speaker 1: then got into podcasting and then you have an employee,
• 23:55
  Speaker 1: then you have employees and then people, they have feelings and.
• 23:58
  Speaker 2: Risk and you have feelings.
• 24:01
  Speaker 1: Yeah. And then you have relationships with them, you know?
• 24:04
  Speaker 1: And so, and so it's like all these things, next
• 24:06
  Speaker 1: thing you know, it's like, I spend a lot of
• 24:08
  Speaker 1: my day, most of your time gets gone kind of
• 24:11
  Speaker 1: because you have, there's another responsibility. And so then I'm
• 24:15
  Speaker 1: just like, man, I'm just, I never, I didn't expect
• 24:18
  Speaker 1: this much more work to come out of, um, I
• 24:21
  Speaker 1: think just having some goals, you know? Yeah.
• 24:24
  Speaker 3: Yeah.
• 24:25
  Speaker 2: I thought I was going to be on the radio
• 24:26
  Speaker 2: and sell some books on getting out of debt. And
• 24:28
  Speaker 2: I mean, who knew I needed 400 people in tech,
• 24:31
  Speaker 2: in a tech department, you know? And so it's the
• 24:34
  Speaker 2: same thing. You're exactly right. And, but the good news is,
• 24:37
  Speaker 2: is that it, like you said earlier, it's an opportunity
• 24:39
  Speaker 2: to learn opportunity to grow. Um, that way you don't
• 24:42
  Speaker 2: just stay in the pressure washing business. And, um, So
• 24:47
  Speaker 2: I still enjoy the stage. I still enjoy being on
• 24:51
  Speaker 2: the radio and the podcast, the YouTube every day. We
• 24:53
  Speaker 2: still do that show every day, three hours a day.
• 24:55
  Speaker 2: I still enjoy all that stuff, but I also enjoy
• 24:57
  Speaker 2: running this place. I'm running it with my son. He's
• 24:59
  Speaker 2: the president now. That's awesome. We had breakfast this morning,
• 25:02
  Speaker 2: and we're having a lot of fun working on the
• 25:06
  Speaker 2: problems and looking at the new opportunities and all that.
• 25:09
  Speaker 2: So the entrepreneurial side is fun.
• 25:11
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• 26:34
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• 26:52
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• 27:42
  Speaker 1: What do you say to, like, employees who want to
• 27:44
  Speaker 1: talk to their employer about getting a raise or getting, like,
• 27:48
  Speaker 1: what is a good way to approach an employer about
• 27:50
  Speaker 1: that kind of stuff?
• 27:51
  Speaker 2: Like, you know, a lot of stuff in business like
• 27:53
  Speaker 2: that are relationship things. If you'll just switch the moccasins
• 27:56
  Speaker 2: a minute, where are their moccasins? So if you were
• 27:59
  Speaker 2: the supervisor or you're the owner of the business, how
• 28:03
  Speaker 2: would you want someone to talk to you about it?
• 28:06
  Speaker 2: And so, I mean, I really appreciate when our folks
• 28:09
  Speaker 2: come in and go, hey, you know, I'm making this. And,
• 28:12
  Speaker 2: you know, here's two or three positions in the marketplace
• 28:15
  Speaker 2: that are more for the same position. And so, you know,
• 28:19
  Speaker 2: what I'm curious about is what I can do to
• 28:21
  Speaker 2: be worth what those people are doing. Because I want
• 28:24
  Speaker 2: to be worth more to the business. And if they
• 28:25
  Speaker 2: say it that way, oh, man, I'm like, yeah, okay, here, yeah.
• 28:29
  Speaker 2: Matter of fact, you know, we probably have overlooked that.
• 28:31
  Speaker 2: We probably just need to give you a raise. Right.
• 28:33
  Speaker 2: But maybe, yeah, maybe there's three things you need to
• 28:35
  Speaker 2: do to level up to be ready to do that.
• 28:37
  Speaker 2: And so it's an opportunity for growth and those kinds
• 28:39
  Speaker 2: of things. Because really, you know, if you're an employer,
• 28:43
  Speaker 2: your team has to make you more or save you
• 28:47
  Speaker 2: more than they cost. Or by definition, you go out
• 28:50
  Speaker 2: of business mathematically. And so if you'll look at that
• 28:54
  Speaker 2: as a team member, it's like how can I add
• 28:56
  Speaker 2: more value than I cost or save more money and
• 29:01
  Speaker 2: depend on what they're working on. But then I cost, then,
• 29:05
  Speaker 2: you know, it's kind of a no-brainer unless the employer's
• 29:07
  Speaker 2: a jerk and greedy or whatever. But most employers are
• 29:10
  Speaker 2: just trying to figure it out too. We're just trying
• 29:12
  Speaker 2: to go, especially small business people. I mean, we love
• 29:14
  Speaker 2: our people. They're family to us. And, you know, we
• 29:17
  Speaker 2: want to help them win. We want their kids to
• 29:20
  Speaker 2: go to college. We want to be with them 20
• 29:22
  Speaker 2: years and watch them grow up. You know, we want
• 29:24
  Speaker 2: all that. We want good stuff for you. But we
• 29:26
  Speaker 2: also don't want to close because we overpaid everybody and
• 29:29
  Speaker 2: didn't make any stinking money. So then everybody loses. So
• 29:32
  Speaker 2: you've got this balance and employers got that stress they're carrying.
• 29:35
  Speaker 2: So if you'll keep that in mind when you're asking,
• 29:37
  Speaker 2: how can I add value that's more than I cost
• 29:42
  Speaker 2: or save you more than I cost, then like I've
• 29:46
  Speaker 2: got a lady in logistics. I mean, she saved us
• 29:49
  Speaker 2: several hundred thousand dollars with contract negotiations with our logistics
• 29:53
  Speaker 2: people on the shipping more than she cost.
• 29:56
  Speaker 3: Wow.
• 29:56
  Speaker 2: Well, it's easy to say. Yeah, you're worth that. That's
• 30:00
  Speaker 2: a no-brainer. I like sharing with her. I mean, we
• 30:03
  Speaker 2: always tell people around here, if you kill it and
• 30:04
  Speaker 2: drag it home, go out there, kill it, drag it
• 30:07
  Speaker 2: to the cave, I'll share it with you. Let's figure
• 30:08
  Speaker 2: it out. You bring in a million dollars in revenue,
• 30:12
  Speaker 2: we can probably divvy that up. We can probably figure
• 30:13
  Speaker 2: out something to do with that. I don't need to
• 30:16
  Speaker 2: take it all home, but also I don't need to
• 30:18
  Speaker 2: give it all to one person either. So we figure
• 30:20
  Speaker 2: this out. And you can do that when you're adding value.
• 30:24
  Speaker 2: And so just look at it that way, not like,
• 30:26
  Speaker 2: On the other hand, I had a guy come in
• 30:28
  Speaker 2: years ago, a long time ago, and he'd been to
• 30:31
  Speaker 2: school half his life. He had more degrees than a thermometer.
• 30:34
  Speaker 2: And he just, you know, he said, hey, man, you know,
• 30:38
  Speaker 2: at these big companies, people that got this many degrees,
• 30:42
  Speaker 2: they make a certain amount of money. And he said,
• 30:46
  Speaker 2: I'm not making that here. We need to adjust my income.
• 30:49
  Speaker 2: And I said, well, dude, I'm sorry. This is a
• 30:51
  Speaker 2: small business. Your raise is effective when you are. We
• 30:55
  Speaker 2: don't pay you for degrees. We pay you for bringing
• 30:58
  Speaker 2: in more than you cost. And right now you're not. So,
• 31:04
  Speaker 2: you know, he left and went and worked for corporate
• 31:06
  Speaker 2: America where they'll pay him for those degrees and they
• 31:08
  Speaker 2: can get away with that. But small business can't do that.
• 31:10
  Speaker 3: Yeah.
• 31:11
  Speaker 1: Yeah.
• 31:11
  Speaker 2: What do you say?
• 31:12
  Speaker 1: Like, what is some of the, or even just like
• 31:14
  Speaker 1: to get a little bit more minute with it, like
• 31:16
  Speaker 1: what are just, say somebody's out there listening, like, man,
• 31:19
  Speaker 1: I feel like I want to talk to my boss
• 31:21
  Speaker 1: about a razor. I want to, how do they... Should
• 31:25
  Speaker 1: they tell themselves certain things to prep themselves to go
• 31:27
  Speaker 1: in there? Should it just be comfortable? Because it's just
• 31:31
  Speaker 1: a space where a lot of people get really uncomfortable,
• 31:33
  Speaker 1: I think, you know?
• 31:34
  Speaker 2: Yeah, you know, anytime I'm in a situation like that
• 31:37
  Speaker 2: where I'm uncomfortable, where there's conflict or a negotiation, if
• 31:40
  Speaker 2: you want to call it that, I found that the
• 31:43
  Speaker 2: more options I have, the calmer I am. And so
• 31:48
  Speaker 2: if there's only one thing, I mean, if I don't
• 31:50
  Speaker 2: get this, I'm dead. But if you've got like six
• 31:52
  Speaker 2: people wanting to hire you, And, you know, you want
• 31:56
  Speaker 2: to go in and go, hey, you know, I'd like
• 31:59
  Speaker 2: to stay, and I like it here, and I like you,
• 32:01
  Speaker 2: and I want to work, but I got all this
• 32:03
  Speaker 2: other stuff. Your body language changes, you know. Yeah. You
• 32:06
  Speaker 2: don't have to be cocky about it. You don't have
• 32:08
  Speaker 2: to swagger in or something, but you can come in
• 32:10
  Speaker 2: with a lot of confidence if you've got options. But
• 32:12
  Speaker 2: if you've got it all dialed in, it's this one thing,
• 32:14
  Speaker 2: and if I don't get this one thing, the whole
• 32:17
  Speaker 2: thing's over, and you add this drama, then you tighten up.
• 32:19
  Speaker 2: You can feel that energy in there, too. Yeah, and
• 32:21
  Speaker 2: it changes the– changes the conversation. Your vocal cords change even. Yeah. Yeah.
• 32:26
  Speaker 1: And there can be things, even if it's not financial,
• 32:28
  Speaker 1: you could get, well, can you, is there a possibility
• 32:31
  Speaker 1: that my car could be paid or insurance? I think
• 32:33
  Speaker 1: there's always different possibilities of things you can ask for,
• 32:35
  Speaker 1: even that, you know.
• 32:37
  Speaker 2: Yeah. I mean, depending on how the business is structured
• 32:39
  Speaker 2: and what's going on, there's a lot of different things
• 32:41
  Speaker 2: you can do and to help people and do different things.
• 32:44
  Speaker 2: And sometimes we've had situations where someone was just in
• 32:47
  Speaker 2: a financial situation, you know, they got in trouble and,
• 32:51
  Speaker 2: They come in, we sit down, we go over their budget,
• 32:52
  Speaker 2: and we go, okay, number one, we're going to get
• 32:54
  Speaker 2: you in a situation so you're never here again with
• 32:57
  Speaker 2: your budget, how you're handling your money. But then number two,
• 33:01
  Speaker 2: you know, your house is four payments behind, so we're
• 33:03
  Speaker 2: going to catch the house up. And so that's just
• 33:05
  Speaker 2: like a one-time thing. That's not a permanent raise because
• 33:08
  Speaker 2: the raise wasn't the problem. Their mismanagement at home was
• 33:11
  Speaker 2: the problem. Ah, I see what you're saying. So, you know,
• 33:12
  Speaker 2: we help them fix the mismanagement, and then we catch
• 33:14
  Speaker 2: them up. Now they're at even. Now they can run.
• 33:17
  Speaker 1: Yeah. Yeah.
• 33:19
  Speaker 2: Would you buy it?
• 33:20
  Speaker 1: Do you still think it's good to buy a house?
• 33:22
  Speaker 2: I'm a homeowner, right?
• 33:23
  Speaker 1: Like for the first time, like last year or two
• 33:25
  Speaker 1: years ago. And sometimes I'm like, is this the best
• 33:30
  Speaker 1: thing to do? Like it's tougher to have like freedom
• 33:34
  Speaker 1: to just go where you want. You know, you can't
• 33:35
  Speaker 1: just go. And then sometimes it feels like there's so
• 33:38
  Speaker 1: many expenses with a home. Sometimes it feels like, and
• 33:41
  Speaker 1: I'm not saying it's true, but it feels like I'm
• 33:44
  Speaker 1: not really building up any equity or saving money.
• 33:48
  Speaker 2: What do you think about it, Dave? Well, again, over
• 33:51
  Speaker 2: the scope of time, you're making money without a doubt.
• 33:53
  Speaker 1: By owning a home?
• 33:54
  Speaker 2: Absolutely. I mean, again, I'm old, so I've gotten to
• 33:59
  Speaker 2: see this thing happen. I mean, I got my real
• 34:02
  Speaker 2: estate license three weeks after I turned 18 years old
• 34:04
  Speaker 2: in 1978. And the first house I sold was to
• 34:07
  Speaker 2: a buddy of mine from high school, which means he
• 34:09
  Speaker 2: wasn't smart because he let me sell him a house.
• 34:11
  Speaker 2: And I'm stupid.
• 34:13
  Speaker 1: You're like, now I'm going to live in one of
• 34:15
  Speaker 1: the rooms, buddy.
• 34:15
  Speaker 2: I just want you to know straight up. How's this going? But, yeah. Anyway,
• 34:19
  Speaker 2: I sold him that house for $ 42, 500. And it's on
• 34:24
  Speaker 2: East Ridge over in Antioch. And that house today would
• 34:28
  Speaker 2: be probably $ 800.
• 34:29
  Speaker 1: Wow.
• 34:30
  Speaker 2: So, you know, and if you bought a house four
• 34:33
  Speaker 2: years ago, you've gotten in Nashville. I mean, you've made
• 34:36
  Speaker 2: serious money on it in four years. In terms of
• 34:39
  Speaker 2: value increase. But, yeah, the nickel-dime expenses, the messing with
• 34:43
  Speaker 2: the repairs. I mean, crap, the more stuff you own,
• 34:46
  Speaker 2: the more repairmen you have to know. I mean, it
• 34:47
  Speaker 2: doesn't matter what it is, whether it's got a motor
• 34:50
  Speaker 2: in it or it's cars or houses or boats or
• 34:53
  Speaker 2: all this stuff. Something's always freaking breaking. There's always something
• 34:56
  Speaker 2: screwed up. And it does get the feeling of just
• 34:59
  Speaker 2: the hassle and the aggravation. There's no simplicity to it
• 35:03
  Speaker 2: at all. Your life gets more complicated. So be careful
• 35:06
  Speaker 2: what you wish for.
• 35:06
  Speaker 1: Yeah.
• 35:07
  Speaker 2: But home ownership in general, absolutely. We did the largest
• 35:11
  Speaker 2: study of millionaires ever done in North America. I saw that.
• 35:14
  Speaker 2: And the typical millionaire that we found, 89% of them
• 35:20
  Speaker 2: were first generation, meaning they did not inherit their money.
• 35:24
  Speaker 2: It's not how they became millionaires. So nine out of 10,
• 35:26
  Speaker 2: that's good news for everybody. We all got a shot. Right.
• 35:30
  Speaker 2: But the two things that got them there was simply
• 35:32
  Speaker 2: putting money in their 401k. and buying a house and
• 35:35
  Speaker 2: paying it off. And so I'd meet a guy, you know,
• 35:37
  Speaker 2: he's 42 and he pay, he owes, um, uh, you know,
• 35:42
  Speaker 2: he had a house of six or 700,000 bucks and
• 35:45
  Speaker 2: he had like six or 800,000 bucks in his 401k
• 35:47
  Speaker 2: and he's 42 years old. So he's worth over a
• 35:49
  Speaker 2: million dollars and he paid off his house. So homeownership
• 35:52
  Speaker 2: is a key part of the first, you know, one
• 35:55
  Speaker 2: to $ 10 million in net worth that somebody builds. Um,
• 35:59
  Speaker 2: and so, yeah, I'm huge believer in homeownership. Don't do
• 36:02
  Speaker 2: it stupid. Cause, buying a house you can't afford makes
• 36:05
  Speaker 2: you broker. That's why they call them brokers. But it's
• 36:08
  Speaker 2: a problem.
• 36:10
  Speaker 1: Yeah. Yeah. This is your study right here. How did
• 36:12
  Speaker 1: you come upon these millionaires?
• 36:14
  Speaker 2: You know, we did a detailed study and sent out
• 36:18
  Speaker 2: not just from us, but we just went to the
• 36:20
  Speaker 2: population and found them. We had a research firm in
• 36:24
  Speaker 2: New York City looking over our shoulder to make sure
• 36:26
  Speaker 2: our research methodology was tight because we knew we'd get
• 36:29
  Speaker 2: a ton of pushback from You know, people who think
• 36:35
  Speaker 2: that America's dead and there's no chance for anybody to win.
• 36:38
  Speaker 2: You can't get up off the bottom. Little man can't
• 36:40
  Speaker 2: get ahead, that whole thing. You're saying that's not true.
• 36:42
  Speaker 2: The problem is little man gets ahead every day in America.
• 36:45
  Speaker 2: We see it right here. And I've met them for 30,
• 36:48
  Speaker 2: 40 years, you know, doing this. I run into them.
• 36:50
  Speaker 2: And some of them did it because they did our stuff.
• 36:52
  Speaker 2: But some of them just said, you know, I'm going
• 36:53
  Speaker 2: to live on less than I make. And, you know,
• 36:57
  Speaker 2: it was an interesting result.
• 37:00
  Speaker 1: So these are the top five careers of the millionaires
• 37:02
  Speaker 1: that you guys looked at?
• 37:03
  Speaker 3: Yep.
• 37:04
  Speaker 2: Engineer account. What we found was what occurred most often. Okay.
• 37:08
  Speaker 2: Engineer was number one. The most often occurring among the
• 37:11
  Speaker 2: people we surveyed that were millionaires was engineer. Number two
• 37:14
  Speaker 2: was accountant. Number three was teacher, which is surprising. Number three, management, business.
• 37:19
  Speaker 2: Number five was attorney. Medical doctor didn't even make the
• 37:22
  Speaker 2: top five. And we always think of doctors and lawyers,
• 37:23
  Speaker 2: you know.
• 37:24
  Speaker 1: Yeah.
• 37:24
  Speaker 2: But they're actually number six, but they're notoriously bad with money.
• 37:28
  Speaker 2: They make a lot of money, but they're like music
• 37:31
  Speaker 2: stars or something. They're notoriously bad with money. And so
• 37:35
  Speaker 2: that was interesting. We couldn't figure out at first what
• 37:38
  Speaker 2: these things had in common because they don't seem to
• 37:42
  Speaker 2: have anything in common. What we finally figured out is
• 37:44
  Speaker 2: all five of these are process people. You follow a process,
• 37:49
  Speaker 2: a set of rules, and you learn the rules and
• 37:52
  Speaker 2: you follow the rules. You're an engineer. There's only one
• 37:56
  Speaker 2: way to build that building and it doesn't fall, right?
• 37:58
  Speaker 2: If you're an accountant, it's not art. You don't get
• 38:01
  Speaker 2: to make up how you do accounting. There's one way
• 38:04
  Speaker 2: to do it. Teachers have a lesson plan they have
• 38:06
  Speaker 2: to follow. Business has always a set of best practices. Attorneys,
• 38:11
  Speaker 2: there's the law, and you can only conduct yourself in
• 38:14
  Speaker 2: court a certain way or the judge will smack you backwards.
• 38:18
  Speaker 2: All of these are process people, so they discovered because
• 38:22
  Speaker 2: of the brain work that led them into these careers
• 38:25
  Speaker 2: that They discovered the process of living on less than
• 38:28
  Speaker 2: they make, living on a budget, starting to invest, being generous,
• 38:31
  Speaker 2: paying off their house, that kind of stuff. And they
• 38:33
  Speaker 2: followed that process, and that's what got them there. It
• 38:36
  Speaker 2: was not that– the interesting thing is one-third of them, 33%,
• 38:40
  Speaker 2: made less than $ 100, 000 a year.
• 38:42
  Speaker 1: Wow.
• 38:42
  Speaker 2: They were not making bank. They were not earning their
• 38:45
  Speaker 2: way into it, really.
• 38:46
  Speaker 1: Yeah, because you would think teachers, you always hear, we
• 38:48
  Speaker 1: got to pay these teachers more, you know.
• 38:50
  Speaker 2: And we do. I mean, that wouldn't be bad at all.
• 38:51
  Speaker 2: But there's– the way the teachers' brains work, They do process,
• 38:56
  Speaker 2: and that's the secret sauce.
• 38:59
  Speaker 1: And all of those, I guess, you have to have
• 39:01
  Speaker 1: an education for.
• 39:02
  Speaker 2: Well, that's true.
• 39:03
  Speaker 1: Do you have to go to college to be a teacher?
• 39:06
  Speaker 2: I don't know if you have to. You do? Yeah, definitely. Sorry, teachers,
• 39:09
  Speaker 2: I didn't. Some of mine didn't go. Some of mine.
• 39:13
  Speaker 2: Some of yours didn't go to class. Some of mine
• 39:16
  Speaker 2: didn't either. Some of mine would be in classes with me.
• 39:18
  Speaker 2: I was like, what?
• 39:20
  Speaker 1: It's like Ric Flair came on here one time and
• 39:22
  Speaker 1: he said he was in a rehab facility for drugs
• 39:25
  Speaker 1: and alcohol and he looks over one day at lunch
• 39:28
  Speaker 1: and one of the doctors is all in the facility
• 39:31
  Speaker 1: that's not good yeah it's like well that's definitely you're
• 39:35
  Speaker 1: at a hooters bro i'm like you're not you're just
• 39:37
  Speaker 1: at a hooters um yeah that's what the people say
• 39:41
  Speaker 1: a lot of times is it does feel like that
• 39:43
  Speaker 1: now it feel there's a lot of energy in the
• 39:45
  Speaker 1: air it feels like the American dream isn't possible, that
• 39:49
  Speaker 1: it doesn't exist. Where do you think a lot of
• 39:52
  Speaker 1: that energy comes from? That that is the, it feels
• 39:58
  Speaker 1: like that's the consensus these days.
• 40:00
  Speaker 2: Would you agree with that? It feels like that? There's
• 40:02
  Speaker 2: a lot of loud people that have that. I don't
• 40:06
  Speaker 2: know that it's necessarily a, consensus among Americans.
• 40:11
  Speaker 1: Because consensus means that most people agree with it?
• 40:13
  Speaker 3: Right.
• 40:13
  Speaker 2: Okay. I'm not sure of that, but there's enough people
• 40:16
  Speaker 2: that are making noise in that regard. But there kind
• 40:19
  Speaker 2: of always has been. I mean, if you go back
• 40:20
  Speaker 2: to the, you know, the 70s with the hippie movement,
• 40:24
  Speaker 2: it was the same kind of thing.
• 40:25
  Speaker 1: Right.
• 40:25
  Speaker 2: And so there's always been a, you know, my group,
• 40:28
  Speaker 2: the baby boomers. And so there's always been somebody in
• 40:30
  Speaker 2: the group that felt like the system was rigged, man,
• 40:34
  Speaker 2: we got to get the system, you know, we can't
• 40:36
  Speaker 2: beat the system. The little man can't get ahead. You know?
• 40:39
  Speaker 2: And so the neighborhood I grew up in, people say that,
• 40:41
  Speaker 2: you know, and they never said it with like enthusiasm.
• 40:43
  Speaker 2: It's like the little man can't get ahead.
• 40:45
  Speaker 3: Yeah.
• 40:45
  Speaker 2: Like Eeyore is their spirit animal. Oh yeah. Where's my tail?
• 40:49
  Speaker 1: Yeah.
• 40:49
  Speaker 2: It's just that season. I'm stuck and life's bad. And
• 40:53
  Speaker 2: you know, and no, you're not get up off your
• 40:55
  Speaker 2: butt and go get a pressure washer. I mean, there's
• 40:57
  Speaker 2: stuff to do, you know? So, uh, and most of
• 41:00
  Speaker 2: these people, again, these millionaires, uh, And a million dollars
• 41:04
  Speaker 2: is not, that's not a billion dollars. That's a million.
• 41:08
  Speaker 2: There's a lot of difference. Millionaires don't have jets. Millionaires
• 41:12
  Speaker 2: don't have seven cars and four houses. No. They've just
• 41:16
  Speaker 2: got a paid four house and some money in their retirement.
• 41:19
  Speaker 2: That's what it amounts to. And so people kind of
• 41:22
  Speaker 2: have a different mindset there and they think, okay, I
• 41:24
  Speaker 2: can't be like this rock star. Well, you might not be.
• 41:27
  Speaker 2: There's not as many billionaires as there are millionaires.
• 41:30
  Speaker 1: Yeah.
• 41:31
  Speaker 2: But anyway, can it be done? Yes, it can be done.
• 41:32
  Speaker 2: And there's a lot of loud noises out there. I
• 41:35
  Speaker 2: don't know where that comes from. I think it starts with,
• 41:39
  Speaker 2: and one of the reasons I pushed back and did
• 41:41
  Speaker 2: this study, and then we ended up doing a number
• 41:43
  Speaker 2: one bestselling book on it, Baby Steps to Millionaires. Pushing
• 41:46
  Speaker 2: back in the marketplaces against those voices is because it's
• 41:50
  Speaker 2: not true that you can't get ahead. And when you
• 41:53
  Speaker 2: convince someone that it's true, you're stealing their hope. And
• 41:57
  Speaker 2: you shouldn't steal people's hope, man. That's evil. And so
• 42:01
  Speaker 2: you ought to encourage people to go do stuff. Now
• 42:03
  Speaker 2: you should not encourage them to go on American Idol
• 42:06
  Speaker 2: if they can't sing. Okay. But you should stop their nightmares,
• 42:10
  Speaker 2: but also encourage their dreams. So this hopelessness that goes
• 42:15
  Speaker 2: with that, I feel stuck. I'll never get a house.
• 42:18
  Speaker 2: I'm a Gen Z. I'm a millennial. I can't get
• 42:21
  Speaker 2: ahead in today's world. You boomers bought your house for
• 42:25
  Speaker 2: two baskets of strawberries. And so now I'm stuck. And
• 42:28
  Speaker 2: You don't understand, and housing is so expensive. Honey, it's
• 42:31
  Speaker 2: always been expensive. I was doing an interview on NPR
• 42:35
  Speaker 2: the other day, and the lady said, you know, I
• 42:37
  Speaker 2: was riding with the Uber driver, and the Uber driver
• 42:39
  Speaker 2: said his daughter is a dancer and a barista, and
• 42:44
  Speaker 2: she couldn't get a house. And I went, that's been
• 42:47
  Speaker 2: true in every generation. Yeah. If you serve coffee and
• 42:50
  Speaker 2: you're in Nashville and you're a dancer, you can't get
• 42:53
  Speaker 2: a house. Yeah, I think– That's just going to– those
• 42:55
  Speaker 2: are not– you know, career fields that you're going to
• 42:59
  Speaker 2: make enough to be able to afford a house. That's
• 43:01
  Speaker 2: not a new thing. That doesn't mean the system has failed.
• 43:03
  Speaker 1: Yeah, and who's buying Java off a stripper either, you know,
• 43:07
  Speaker 1: to be honest.
• 43:08
  Speaker 2: I didn't say what kind of dancer. I didn't have
• 43:10
  Speaker 2: any idea there. Oh, okay. Yeah, I didn't know.
• 43:13
  Speaker 1: But, yeah, like who also– I guess it would be
• 43:15
  Speaker 1: nice if a stripper just shows up as a nice
• 43:18
  Speaker 1: cup of coffee.
• 43:20
  Speaker 2: Actually, that's probably not a bad deal.
• 43:21
  Speaker 1: Don't they have that nude barista drive-thru or something?
• 43:25
  Speaker 2: Where's that at? You know, that is a thing. That's right.
• 43:27
  Speaker 2: I saw that. That was a while back. That's old news.
• 43:30
  Speaker 1: It's old news, but it definitely still, I think, some
• 43:32
  Speaker 1: people pretend like it's new news every day when they
• 43:34
  Speaker 1: roll up there.
• 43:36
  Speaker 2: Like, let me see the headlines, huh?
• 43:39
  Speaker 1: I'm not sure exactly how we got there, but okay. Well, yeah,
• 43:42
  Speaker 1: but I'm just saying that's a unique business right there.
• 43:44
  Speaker 1: That's kind of wild, you know? It'll definitely.
• 43:48
  Speaker 2: But the... Back to your thing. The thing is hope
• 43:53
  Speaker 2: is a decision, and it's got to be based on,
• 43:57
  Speaker 2: you know, you've had the actual reality in your life
• 44:02
  Speaker 2: of going from collecting cans to sitting here. I've had
• 44:06
  Speaker 2: the reality in my life of going from mowing grass
• 44:10
  Speaker 2: to millionaire in my 20s to losing it all. I'm
• 44:13
  Speaker 2: so dumb I had to do it twice. Damn. So,
• 44:15
  Speaker 2: you know. I've got that reality. And so when someone
• 44:19
  Speaker 2: says it can't be done, I went, wait a minute, hello.
• 44:24
  Speaker 2: And I don't really, I'm fairly smart, but I'm not
• 44:28
  Speaker 2: a rocket surgeon. I mean, I don't really know how
• 44:30
  Speaker 2: to do stuff. I just, I'm figuring it out as
• 44:32
  Speaker 2: I go, right? And so I think anybody can do it.
• 44:37
  Speaker 1: No, it's good to hear. Yeah, I think people having
• 44:39
  Speaker 1: a hope like that is important, you know? And I
• 44:42
  Speaker 1: think that's, yeah, it's just really important to hear that. Yeah,
• 44:45
  Speaker 1: if you take away somebody's hope, because I guess that's
• 44:47
  Speaker 1: what a lot of these loud voices are doing, right?
• 44:51
  Speaker 1: I never thought about that that much. They're just trying
• 44:54
  Speaker 1: to take away hope, because once they have your hope,
• 44:56
  Speaker 1: they can kind of keep you there, I feel like.
• 44:59
  Speaker 2: Well, if they're running a game, you know, and they're manipulating,
• 45:03
  Speaker 2: that's one thing, and that's particularly evil. But the other
• 45:06
  Speaker 2: one is just they really have lost hope, and so
• 45:10
  Speaker 2: they're angry.
• 45:11
  Speaker 1: Mm-hmm.
• 45:11
  Speaker 2: And they want to loudly proclaim that it's not possible,
• 45:15
  Speaker 2: which makes them feel okay that they're not winning, that
• 45:18
  Speaker 2: they haven't gone and done something yet. Because winning is hard, man.
• 45:22
  Speaker 2: It's hard. Yeah.
• 45:23
  Speaker 1: It takes a lot of work, man. Yeah, I was
• 45:25
  Speaker 1: talking to the head. Kid Rock was on a couple
• 45:27
  Speaker 1: weeks ago, and he was talking about how, yeah, if
• 45:33
  Speaker 1: you want to have success, you're going to have to
• 45:35
  Speaker 1: probably work 60 hours a week, 60 to 80 hours
• 45:38
  Speaker 1: a week, he was saying.
• 45:39
  Speaker 2: For a period of time, not your whole life.
• 45:41
  Speaker 1: Right.
• 45:41
  Speaker 2: I mean, we started this thing, man, I was 16 hours.
• 45:44
  Speaker 2: My wife had, you know, and she's like, I was
• 45:46
  Speaker 2: a single mom for two years. You know, you were gone.
• 45:49
  Speaker 2: I was on the road doing book tours. I was
• 45:52
  Speaker 2: out speaking everywhere. I was going crazy, going to cities,
• 45:54
  Speaker 2: trying to get radio stations to carry the show. Back
• 45:56
  Speaker 2: when talk radio was the thing, and that's how we
• 45:59
  Speaker 2: all got started was in talk radio.
• 46:00
  Speaker 3: Oh, yeah.
• 46:01
  Speaker 2: Did you ever meet Paul Harvey? No, I didn't. No,
• 46:04
  Speaker 2: I didn't. That would have been so cool.
• 46:05
  Speaker 1: I know y'all's timeline is off.
• 46:06
  Speaker 2: Iconic, yeah. I knew all the guys that are current
• 46:10
  Speaker 2: rush and Sean Hannity and all those guys are all
• 46:13
  Speaker 2: contemporaries and they're all friends. And, um, you know, people
• 46:17
  Speaker 2: that have been around the business like that, but, uh, and,
• 46:20
  Speaker 2: and a lot of the new guys that are doing
• 46:21
  Speaker 2: really good work too. But, but anyway, that, you know,
• 46:24
  Speaker 2: we're just out there hustling, man. And you got to
• 46:26
  Speaker 2: leave the cave, kill it, drag it home. And my
• 46:28
  Speaker 2: wife grew up on a farm. So she's like, um, yeah,
• 46:31
  Speaker 2: hard works, how you do this. So get after it.
• 46:34
  Speaker 2: Now you can't maintain that. I was two years. It
• 46:37
  Speaker 2: wasn't 20. 20, I would have lost my family. You know,
• 46:41
  Speaker 2: you can't maintain relationships. My kids would have been messed up.
• 46:44
  Speaker 2: And so by the time my kids got on up,
• 46:46
  Speaker 2: you know, I didn't miss a prom. I didn't miss
• 46:50
  Speaker 2: a hockey game. You know, I didn't miss a whatever.
• 46:52
  Speaker 2: The big games, I mean, little stuff I'd be gone
• 46:54
  Speaker 2: during the week, but, you know, but we started putting
• 46:57
  Speaker 2: these dates on the calendar and we would book our
• 46:59
  Speaker 2: events around them. You couldn't book on top of that.
• 47:01
  Speaker 2: And I still do that. Yeah.
• 47:04
  Speaker 1: When people talk about, when people talk, You hear a
• 47:09
  Speaker 1: lot of discussion these days about how inflation is growing
• 47:15
  Speaker 1: so fast, I guess, that the minimum wage isn't keeping
• 47:21
  Speaker 1: up with it. It feels detrimental. It feels sometimes impossible.
• 47:27
  Speaker 1: If you look at the minimum wage, you're like, how
• 47:28
  Speaker 1: is this going to... It would feel impossible almost, I
• 47:32
  Speaker 1: feel like, if you were trying to take care of
• 47:34
  Speaker 1: a family or something on that. Well....
• 47:37
  Speaker 2: Truthfully, minimum wage has never, I don't think since even
• 47:43
  Speaker 2: it was formed in the 70s, I don't think any
• 47:46
  Speaker 2: time in history minimum wage has been enough to take
• 47:48
  Speaker 2: care of a family. So you've always had to think
• 47:51
  Speaker 2: beyond minimum wage if you wanted to excel, if you
• 47:54
  Speaker 2: wanted to have, you know, A, build some wealth, or B,
• 47:57
  Speaker 2: just take care of a family, those kinds of things.
• 47:59
  Speaker 2: So minimum wage is not designed for the entry-level jobs
• 48:02
  Speaker 2: are That's not designed. What's more disturbing than minimum wage
• 48:07
  Speaker 2: is that wages in general, average household incomes, have not
• 48:12
  Speaker 2: kept up with inflation. And so that's more alarming because
• 48:17
  Speaker 2: that's the whole population. It's not just this segment that enters,
• 48:21
  Speaker 2: you know, entry-level stuff at minimum wage. Because, you know,
• 48:24
  Speaker 2: if we go all the way back to minimum wage,
• 48:25
  Speaker 2: I'm cutting grass for $ 3 a yard in 1972. Okay.
• 48:31
  Speaker 2: A thousand, there were dinosaurs in the yard. We had
• 48:33
  Speaker 2: to get them out of the yard. But you know,
• 48:34
  Speaker 2: I mean, 1972, $ 3 a yard, but minimum wage was
• 48:37
  Speaker 2: a buck 65. My buddy's working at, at, you know,
• 48:41
  Speaker 2: Burger King flopping Whoppers and he's making a buck six, five.
• 48:44
  Speaker 2: If I can cut that $ 3 a yard in an hour,
• 48:47
  Speaker 2: I'm making double minimum wage at 12 years old. And
• 48:50
  Speaker 2: that's how my little math brain was working. So I'm
• 48:53
  Speaker 2: running that mower, you know, I'm going.
• 48:55
  Speaker 1: And so, You can even cut somebody's yard and just
• 48:58
  Speaker 1: go to their door and be like, hey, just cut
• 48:59
  Speaker 1: your yard.
• 49:00
  Speaker 2: No, I mean, that was my job. They were one
• 49:03
  Speaker 2: of my clients. I had to go cut their grass.
• 49:05
  Speaker 1: But some people, I bet if you rolled up to
• 49:06
  Speaker 1: my door and knocked on my door and said, hey, man,
• 49:08
  Speaker 1: I just cut your yard, will you give me $ 10
• 49:11
  Speaker 1: for it or whatever?
• 49:12
  Speaker 2: Except for that other guy you hired to do it
• 49:13
  Speaker 2: that's coming next week. There's a problem with him. But, yeah,
• 49:18
  Speaker 2: I mean, you've always had the opportunity to beat minimum wage.
• 49:24
  Speaker 2: So you don't want to sit and say, okay, minimum
• 49:25
  Speaker 2: wage is my gauge of whether I can go win
• 49:28
  Speaker 2: because I can go do something that beats minimum wage. Right.
• 49:32
  Speaker 1: So that's kind of a political football that gets kicked
• 49:35
  Speaker 1: around a.
• 49:35
  Speaker 2: Lot, I guess, then. It is, and it enters into
• 49:38
  Speaker 2: this discussion falsely. It's a false narrative, where I think
• 49:42
  Speaker 2: the real narrative that is a little bit scary is
• 49:44
  Speaker 2: that wages have not kept up with inflation. And because
• 49:47
  Speaker 2: we've had this unusual surge in inflation, and it's blamed
• 49:52
  Speaker 2: on Biden politically, but some of it's his fault, his
• 49:58
  Speaker 2: policy issues, but most of it is just the lingering
• 50:01
  Speaker 2: results of the pandemic. And so the shortages shortages of
• 50:06
  Speaker 2: things always drive prices up on anything, anything. There's a
• 50:10
  Speaker 2: shortage of prices go up.
• 50:11
  Speaker 3: Okay.
• 50:11
  Speaker 2: And there was a shortage of freaking everything.
• 50:13
  Speaker 1: Yeah.
• 50:13
  Speaker 2: Remember supply chain and all that stuff people. Yeah. And
• 50:16
  Speaker 2: so everything shot up real estate shot up because people
• 50:21
  Speaker 2: sat around in their houses during the pandemic. And then,
• 50:24
  Speaker 2: you know, when the sun came out and the curve
• 50:27
  Speaker 2: was flattened and all, whatever, you know, and we're all
• 50:29
  Speaker 2: back out, well, these people all wanted new houses. I mean,
• 50:32
  Speaker 2: they came out of their.
• 50:33
  Speaker 1: House like a Baptist after a casserole. They were going
• 50:35
  Speaker 1: for it. They were getting it, you know? So, uh,
• 50:39
  Speaker 1: and house prices, you know, 2021.
• 50:41
  Speaker 3: Wow.
• 50:42
  Speaker 2: That was an artificial thing though, that was created by
• 50:46
  Speaker 2: the market being dormant and people being trapped. And then
• 50:49
  Speaker 2: this idea of looking around at their house going, this
• 50:50
  Speaker 2: is my house sucks. I need a new house. Boom.
• 50:52
  Speaker 2: They hit the market hard and it's still not recovered
• 50:55
  Speaker 2: from that. It's still got the ripple of that. And
• 50:58
  Speaker 2: some of the other things are hit that way too. Um,
• 51:01
  Speaker 2: But there's some things, again, policy issues, but most of
• 51:04
  Speaker 2: it is just the smoothing out of that. And Trump
• 51:07
  Speaker 2: nor Biden should get the credit nor the blame. It
• 51:10
  Speaker 2: was more how the marketplace was functioning.
• 51:11
  Speaker 1: So you think that inflation will come down? Is that
• 51:15
  Speaker 1: the right term to talk about inflation?
• 51:16
  Speaker 2: Yeah, I do. I don't think it's permanent. Again, to
• 51:20
  Speaker 2: the extent that the politicians leave their hands off of stuff,
• 51:23
  Speaker 2: but the– both parties. But the– the marketplace will smooth out.
• 51:30
  Speaker 2: Again– demand, prices go up, number of people want to
• 51:34
  Speaker 2: pay that, no. So now demand goes down, which brings
• 51:37
  Speaker 2: prices down. So the thing smooths out eventually. You find
• 51:41
  Speaker 2: this equilibrium, this balance. And the problem is the shortage
• 51:45
  Speaker 2: drove the prices up and the shortage remained. And then
• 51:48
  Speaker 2: people's appetite, they just kept coming, man, like freaking piranha.
• 51:51
  Speaker 2: And the marketplace surges is what drove the pricing as
• 51:56
  Speaker 2: much as anything. Now, that's not true in oil and
• 51:58
  Speaker 2: gas at the pump. That's a whole different subject. That's
• 52:00
  Speaker 2: not true on a few other things, but housing for sure.
• 52:03
  Speaker 2: You know, bread, grocery store cart. Yeah. All that for sure.
• 52:09
  Speaker 1: You always hear about like the national debt, right? People
• 52:14
  Speaker 1: talk about that all the time. And it just keeps
• 52:17
  Speaker 1: going up apparently. Like, is that a real thing that affect,
• 52:21
  Speaker 1: it almost seems so fictional now that it's like, is
• 52:25
  Speaker 1: it a real thing that, could cause something to happen
• 52:29
  Speaker 1: in like in our lives or like, is it like,
• 52:32
  Speaker 1: what is it?
• 52:33
  Speaker 2: You know what I'm saying?
• 52:34
  Speaker 1: Cause everybody's like, you know, it's just zillions. They're making
• 52:37
  Speaker 1: up amounts of money now. Some kid told me yesterday
• 52:40
  Speaker 1: it was 65 zillion. And I'm like, that's how much
• 52:47
  Speaker 1: it is. I mean, right now it's 34. It's a
• 52:50
  Speaker 1: number that I don't even know. How can you teach
• 52:53
  Speaker 1: kids numbers in school, but you can't even teach them
• 52:55
  Speaker 1: a number. That would let them explain the national debt.
• 52:59
  Speaker 2: Yeah. You know, I went through a period of time
• 53:04
  Speaker 2: in my 20s when I was first starting to do
• 53:05
  Speaker 2: this stuff, late 20s, that I was worried that the
• 53:11
  Speaker 2: hockey stick of this thing, the growth of the debt,
• 53:15
  Speaker 2: was going to cripple the economy and even cause a
• 53:18
  Speaker 2: complete collapse. And, you know, so I've observed people in
• 53:24
  Speaker 2: my world write books on the end of the world.
• 53:27
  Speaker 2: Here's the economic end of the world coming, the economic
• 53:29
  Speaker 2: end of the world. And they keep being wrong. So
• 53:36
  Speaker 2: I don't want to write that book. So is it concerning? Yeah,
• 53:40
  Speaker 2: it's concerning because anytime a group of people, us, keep
• 53:44
  Speaker 2: spending more than we make and we keep electing people
• 53:48
  Speaker 2: that don't have any ability to curb their appetite for
• 53:52
  Speaker 2: our money, it's, phew, man. That philosophically, spiritually is scary.
• 54:00
  Speaker 2: Mathematically is scary. Is it going to cause a crash?
• 54:05
  Speaker 2: Apparently not. Yeah. Because it, I mean, I've been doing
• 54:08
  Speaker 2: this a long, I've been watching this thinking when, you know, when,
• 54:11
  Speaker 2: you know, but it's not. And obviously what the national
• 54:15
  Speaker 2: debt is, what it does do factually is it robs
• 54:20
  Speaker 2: money from the economy that could be producing something. And so,
• 54:25
  Speaker 2: Because what happens is the government issues a bond. That's
• 54:29
  Speaker 2: how they finance the debts, treasury bonds, T-bills and T-bonds.
• 54:33
  Speaker 2: And so they issue that bond, and then an investor
• 54:36
  Speaker 2: goes and buys that government bond because they're going to
• 54:39
  Speaker 2: pay him interest on it. If that investor had done
• 54:43
  Speaker 2: something else in the marketplace with that money to produce
• 54:46
  Speaker 2: something rather than sit on this bunch of fat in D.C.,
• 54:51
  Speaker 2: It would have ginned up the economy. I see. So
• 54:55
  Speaker 2: it's stealing money from the economy in that sense. And
• 55:00
  Speaker 2: it's becoming a– the interest only on it is becoming
• 55:02
  Speaker 2: a larger and larger portion of the, quote, budget, unquote,
• 55:06
  Speaker 2: as if they've got a budget. I know.
• 55:10
  Speaker 1: Yeah, I put money into kind of T-bills. I'm kind
• 55:13
  Speaker 1: of a– Oh, it's you.
• 55:15
  Speaker 3: Yeah, it is.
• 55:16
  Speaker 2: I didn't know it was. It was you.
• 55:17
  Speaker 1: Okay. Because there's a lot of me. I don't trust
• 55:21
  Speaker 1: the stock market that much. I feel like it's so
• 55:23
  Speaker 1: manipulated these days. I feel like there's like darker forces
• 55:27
  Speaker 1: that are like you can use the media to control
• 55:30
  Speaker 1: it and like can like create articles to affect how
• 55:33
  Speaker 1: the market goes. So that's kind of like– So I
• 55:36
  Speaker 1: prefer something like a T-bill or something like that that's
• 55:38
  Speaker 1: just like a safe, I know what it's going to
• 55:40
  Speaker 1: be pretty much.
• 55:42
  Speaker 2: Well, there's always been falsehood and manipulation in the market.
• 55:49
  Speaker 2: There's always been to a degree.
• 55:51
  Speaker 1: Do you think it's still a safe place for people
• 55:52
  Speaker 1: to invest?
• 55:53
  Speaker 2: I do. I've got millions and millions of dollars in
• 55:56
  Speaker 2: mutual funds. So the way to offset that is, number one,
• 56:01
  Speaker 2: if you don't– I believe it's there. I believe it's
• 56:04
  Speaker 2: a very small percentage, and I don't know where it
• 56:07
  Speaker 2: is exactly. I can't point and say that guy, that one,
• 56:10
  Speaker 2: you know, that girl, that thing right there. I don't
• 56:11
  Speaker 2: know exactly where it is. But, I mean, is there
• 56:14
  Speaker 2: people that fluff the thing? Absolutely they fluff it. Absolutely.
• 56:18
  Speaker 2: Is there people that, you know, that right before the
• 56:21
  Speaker 2: news article goes out, they sell their stuff, insider trading?
• 56:24
  Speaker 2: It happens all the time. Sometimes they get caught and
• 56:26
  Speaker 2: go to jail. It's illegal. But does it happen? Oh,
• 56:29
  Speaker 2: it's common practice. Is it so widespread that it makes
• 56:33
  Speaker 2: the investment improper or imprudent? No, I don't believe that. Otherwise,
• 56:38
  Speaker 2: I wouldn't be investing. So I invest. So if I'm
• 56:44
  Speaker 2: in a mutual fund, I'm in 90 to 200 different stocks.
• 56:48
  Speaker 2: And it's stuff that you drive by every day. It's
• 56:52
  Speaker 2: McDonald's or Home Depot or Dell Computer or Apple or
• 56:57
  Speaker 2: Exxon or whatever, right? Yeah, rooms to go or whatever.
• 57:00
  Speaker 2: All that. And so in that, That was 90 to 200.
• 57:05
  Speaker 2: Is there some percentage of that problem going on? Yeah,
• 57:08
  Speaker 2: there is some percentage, but not enough that it in general,
• 57:13
  Speaker 2: those 90 to 200 companies I'm S I'm spread out
• 57:15
  Speaker 2: wide enough, diversified, I'm spread out enough that I'm catching
• 57:20
  Speaker 2: all the good. And it's more than offsetting the falsehood
• 57:24
  Speaker 2: that's out there. And it's more than offsetting that. So
• 57:27
  Speaker 2: as home Depot makes more money than I'm participating as
• 57:32
  Speaker 2: whoever Apple, It makes more money than I'm participating because
• 57:35
  Speaker 2: I'm one of the owners of the company. Tiny, tiny
• 57:38
  Speaker 2: little bit when I own, you know, in that 90
• 57:41
  Speaker 2: to 200 stocks. So that's how I don't buy single
• 57:43
  Speaker 2: stocks mainly because they're higher risk and much more volatile.
• 57:47
  Speaker 2: And you're much more prey to what if that was
• 57:50
  Speaker 2: the company that was screwing around?
• 57:52
  Speaker 1: Yeah.
• 57:52
  Speaker 2: Then boom. You know, you bet the whole dadgum farm
• 57:55
  Speaker 2: on that one horse race and that guy fell out. No,
• 57:58
  Speaker 2: we're not doing that. So I don't like that much risk.
• 58:01
  Speaker 2: So I like the diversification of mutual funds. That's where
• 58:03
  Speaker 2: all my retirement is. It's what we recommend, what we teach.
• 58:07
  Speaker 2: So I only do two kinds of investing. I buy
• 58:10
  Speaker 2: real estate that I pay cash for, and I buy
• 58:11
  Speaker 2: mutual funds.
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  Speaker 1: Better H-E-L-P, BetterHelp. If someone had like a, they have a,
• 1:01:03
  Speaker 1: you know, somebody they're thinking about putting it into the
• 1:01:05
  Speaker 1: market or they're thinking about buying like maybe a small
• 1:01:07
  Speaker 1: apartment building or something like that. Do you feel like
• 1:01:09
  Speaker 1: that's a good choice for people?
• 1:01:11
  Speaker 2: Yeah, I don't get in partnerships on them like we
• 1:01:13
  Speaker 2: discussed earlier. I just buy them. But yeah, real estate
• 1:01:16
  Speaker 2: makes more. If it's good income producing real estate, you'll
• 1:01:20
  Speaker 2: make more on it than you will in mutual funds.
• 1:01:23
  Speaker 2: Mutual funds average 10, 12%. Real estate, you ought to
• 1:01:26
  Speaker 2: make 17 to 20, including the tax benefits, the appreciation
• 1:01:29
  Speaker 2: that's going up in value, and the cash flow. Those
• 1:01:31
  Speaker 2: three things do it. The problem with real estate is
• 1:01:36
  Speaker 2: it's a pain in the butt because you've got to
• 1:01:37
  Speaker 2: deal with it. The roof leaks, whether it's a commercial
• 1:01:42
  Speaker 2: office building, whether it's a house, it doesn't matter. And
• 1:01:46
  Speaker 2: I've got a lot of both. But there's a tenant
• 1:01:50
  Speaker 2: that doesn't pay or does pay, or it's empty and
• 1:01:52
  Speaker 2: I can't get a tenant. Uh, you know, there, there's, uh,
• 1:01:55
  Speaker 2: there's a hassle factor to dealing with, even if you
• 1:01:58
  Speaker 2: hired management. I mean, uh, my son-in-law runs all the
• 1:02:01
  Speaker 2: Ramsey real estate stuff and he, and I grew up
• 1:02:03
  Speaker 2: in real estate, so I love working with him on it,
• 1:02:05
  Speaker 2: but he handles the day to day to day. I
• 1:02:08
  Speaker 2: don't screw with all that today, but, but it's a pain.
• 1:02:11
  Speaker 2: So this idea that I hear this stuff on social
• 1:02:13
  Speaker 2: media and stuff, it was real estate's passive income. Bull crap.
• 1:02:17
  Speaker 2: Nothing passive about it. Your butt's active. I mean, you're
• 1:02:20
  Speaker 2: right in the middle of it, or you're getting screwed
• 1:02:22
  Speaker 2: in one of the two.
• 1:02:24
  Speaker 3: Yeah.
• 1:02:24
  Speaker 1: Oh, yeah, I got into some real estate, and it
• 1:02:28
  Speaker 1: was so much extra work that I didn't realize. Complaints,
• 1:02:32
  Speaker 1: somebody's Airbnb-ing in the building, somebody's started a fire or
• 1:02:38
  Speaker 1: something because they didn't want to use the heat in
• 1:02:41
  Speaker 1: their unit or whatever. It's like you can't just do
• 1:02:43
  Speaker 1: a fire. You need a fireplace.
• 1:02:46
  Speaker 2: Yeah, yeah.
• 1:02:49
  Speaker 1: Just crazy people just, yeah, people just, yeah, doing fires. Yeah,
• 1:02:54
  Speaker 1: just stuff like that. I think a lot of alarming stuff. But, yeah,
• 1:02:59
  Speaker 1: there's no easy way to it.
• 1:03:01
  Speaker 2: Well, I mean, the T-bill, you know what you're talking about,
• 1:03:04
  Speaker 2: you buy it and you forget it. They send you
• 1:03:06
  Speaker 2: a check. It's not as big a check, but there's
• 1:03:09
  Speaker 2: no hassle. Yeah. You know, mutual funds, a little more
• 1:03:12
  Speaker 2: risk because you're in there with all these companies. There
• 1:03:14
  Speaker 2: could be something going on. Even if you're 90 to
• 1:03:16
  Speaker 2: 200 and limited the risk by spreading it out, you
• 1:03:19
  Speaker 2: still got more risk than you would in a T-bill,
• 1:03:21
  Speaker 2: but you're going to make a little more. Now you
• 1:03:23
  Speaker 2: want a little more hassle, go to the real estate.
• 1:03:25
  Speaker 2: You're going to make a little more. So you don't
• 1:03:26
  Speaker 2: want to be, uh, you know, I try to just
• 1:03:30
  Speaker 2: say it's a risk return ratio. If I'm going to
• 1:03:32
  Speaker 2: take some risk and have some hassle, I want some
• 1:03:36
  Speaker 2: extra money for that. Yeah. Yeah. Cause it's the stress
• 1:03:38
  Speaker 2: it causes.
• 1:03:39
  Speaker 1: It's like, do I want to be, cause I'll notice, yeah,
• 1:03:41
  Speaker 1: like some stocks is too much stress for me cause
• 1:03:43
  Speaker 1: I'll check them too much and I don't like it.
• 1:03:45
  Speaker 1: And then it's like, I spent 30 minutes of my
• 1:03:48
  Speaker 1: day dang checking stocks, and that's the time I could
• 1:03:50
  Speaker 1: have just had doing my work.
• 1:03:52
  Speaker 2: I buy mutual funds, set it, and forget it. I
• 1:03:55
  Speaker 2: don't even know what the market has done this year.
• 1:03:57
  Speaker 3: Wow.
• 1:03:57
  Speaker 2: And I do this for a living. Wow. I don't
• 1:03:59
  Speaker 2: keep up with it. Because I'm not betting on this week.
• 1:04:03
  Speaker 2: I'm saying, okay, look at what the stock market has
• 1:04:07
  Speaker 2: done since 1980, since 1990, since 2012. Look at what
• 1:04:10
  Speaker 2: I would have made if I had put $ 10, 000, what
• 1:04:13
  Speaker 2: it would have made. And that's how I'm playing it,
• 1:04:16
  Speaker 2: is the long haul, the long play. Wow. God. Well,
• 1:04:23
  Speaker 2: there it is. 1992, $ 1, 000 would have turned into $ 5, 000.
• 1:04:27
  Speaker 1: Was there ever a stock that you bought, Dave, where
• 1:04:30
  Speaker 1: you were like, man, I wish I would have held
• 1:04:31
  Speaker 1: on to that? That you just remember, like even when
• 1:04:33
  Speaker 1: you were younger, was it one?
• 1:04:34
  Speaker 2: No, I never bought single stocks ever. The only dumb
• 1:04:37
  Speaker 2: thing I did is I bought gold one time. This
• 1:04:40
  Speaker 2: buddy of mine, again, you know, these buddies in my 20s,
• 1:04:43
  Speaker 2: he was making money, and he had this gold guy
• 1:04:46
  Speaker 2: that we could buy options on gold, which we don't
• 1:04:50
  Speaker 2: even buy in the gold, just buy in the right
• 1:04:51
  Speaker 2: to buy the gold. And he said he put in $ 5, 000,
• 1:04:54
  Speaker 2: and if it goes up, the option goes from $ 5K
• 1:04:57
  Speaker 2: to $ 50K, 10X my money. And 14 times in a row,
• 1:05:04
  Speaker 2: this guy had hit. You put it in, and he
• 1:05:07
  Speaker 2: had predicted, and he said, okay, we need to go
• 1:05:09
  Speaker 2: in right now and put $ 5, 000. I dropped $ 5, 000 in there.
• 1:05:12
  Speaker 2: Fifteenth time he didn't hit.
• 1:05:14
  Speaker 1: It's all or nothing. So I lost the whole $ 5, 000
• 1:05:16
  Speaker 1: and no sign of $ 50, 000, right?
• 1:05:19
  Speaker 3: Yeah.
• 1:05:20
  Speaker 2: I'm done.
• 1:05:21
  Speaker 1: You think it was a pyramid scheme or not?
• 1:05:22
  Speaker 2: No, no. It's an option. That's how options work. It's
• 1:05:25
  Speaker 2: an uber high-risk situation. It's super crazy. It was just gambling.
• 1:05:29
  Speaker 2: I mean, it's just gambling.
• 1:05:30
  Speaker 1: You ever been in a pyramid scheme? No.
• 1:05:34
  Speaker 2: I've been in a couple. Are you talking about multi-level
• 1:05:39
  Speaker 2: or pyramid?
• 1:05:40
  Speaker 1: I mean, I don't know what it was. Whatever level
• 1:05:43
  Speaker 1: it was, I lost on it.
• 1:05:45
  Speaker 2: I know that. You didn't get off the ride fast enough.
• 1:05:47
  Speaker 3: Oh, yeah.
• 1:05:48
  Speaker 2: No, we had, yeah. Oh, yeah. One, I was a child.
• 1:05:50
  Speaker 2: I got involved.
• 1:05:51
  Speaker 1: I'd saved up, I mean, probably most of the money
• 1:05:54
  Speaker 1: I had, and I got into this thing, and it
• 1:05:57
  Speaker 1: was a scam, and that was horrible.
• 1:06:00
  Speaker 2: God, that killed me.
• 1:06:01
  Speaker 1: And then another time they had a dude, somebody was
• 1:06:04
  Speaker 1: selling like glitter mining or something in our area, and
• 1:06:07
  Speaker 1: they sold a bunch of shares of that shit and
• 1:06:10
  Speaker 1: screwed everybody.
• 1:06:11
  Speaker 2: Yeah, I remember in the 80s, everybody decided that emus
• 1:06:15
  Speaker 2: were going to be the new meat.
• 1:06:17
  Speaker 1: What?
• 1:06:18
  Speaker 2: Really?
• 1:06:19
  Speaker 1: Why?
• 1:06:19
  Speaker 2: All these rednecks are buying. Pull one up. This is unbelievable.
• 1:06:22
  Speaker 1: All these rednecks are making emu farms. And so it's
• 1:06:26
  Speaker 1: like ostrich meat, right? And so they were— Oh, come on, brother.
• 1:06:30
  Speaker 1: So it was a big deal. And a lot of
• 1:06:33
  Speaker 1: people decided they were going to sell everything and open
• 1:06:35
  Speaker 1: an emu farm.
• 1:06:36
  Speaker 2: Really? Because for the meat, it's like ostrich meat. It's like,
• 1:06:40
  Speaker 2: I don't know, it's a big bird meat, big white meat.
• 1:06:43
  Speaker 2: Just bring them.
• 1:06:44
  Speaker 1: A picture of an emu, brother. You can't find one now,
• 1:06:47
  Speaker 1: I guess.
• 1:06:49
  Speaker 2: Yeah, he got images right there.
• 1:06:51
  Speaker 1: Let's scroll down a little bit. Let me see what
• 1:06:52
  Speaker 1: we got.
• 1:06:53
  Speaker 2: See, he's got a little meat on him. Oh, gosh, yeah. Yeah,
• 1:06:58
  Speaker 2: it's hilarious, though. These rednecks around Tennessee, they were having
• 1:07:01
  Speaker 2: emu farms. Damn, you ever had any of them? No,
• 1:07:04
  Speaker 2: I managed to stay out of that scam. That was
• 1:07:06
  Speaker 2: one of those fad things that didn't work. Yeah, that's
• 1:07:09
  Speaker 2: a damn tall turkey, huh? It's like buying beanie babies.
• 1:07:12
  Speaker 2: Everybody's collecting beanie babies. Dude, I remember beanie babies. They
• 1:07:14
  Speaker 2: were going to get rich on beanie babies. Oh, yeah,
• 1:07:16
  Speaker 2: and now they have two.
• 1:07:18
  Speaker 1: Garbage bag women women fighting like like cage match fighting
• 1:07:23
  Speaker 1: in the in the airport gift shop to get the
• 1:07:25
  Speaker 1: beanie baby remember the princess diana there.
• 1:07:27
  Speaker 2: It is yeah it's supposed to go for like ten
• 1:07:29
  Speaker 2: thousand dollars never happened never once nope sorry oh my
• 1:07:34
  Speaker 2: dog plays with them now yeah we had the whole
• 1:07:36
  Speaker 2: freaking collection not because it was an investment but because
• 1:07:39
  Speaker 2: my wife was freaking obsessed and i was traveling she's
• 1:07:41
  Speaker 2: at every airport she's been there so yeah see forty
• 1:07:44
  Speaker 2: nine thousand dollars on ebay For the princess. Never sold, though. No,
• 1:07:48
  Speaker 2: that's the thing. Never sold. Never sold.
• 1:07:51
  Speaker 1: Yeah, they had my buddy won his family's football pool.
• 1:07:57
  Speaker 1: It was like their NCAA, their college football pool they
• 1:07:59
  Speaker 1: did every year. He won us like $ 600, dude.
• 1:08:02
  Speaker 2: He was so excited. He could have changed his life.
• 1:08:06
  Speaker 1: And instead, his mom convinced him to buy a Christmas
• 1:08:10
  Speaker 1: village of like rare Christmas village houses.
• 1:08:13
  Speaker 3: Oh, yeah.
• 1:08:14
  Speaker 2: They're back. They're back. They're happening right now. My buddy
• 1:08:19
  Speaker 2: to this day is... He's big into Christmas houses. No rent.
• 1:08:23
  Speaker 2: Rent didn't much. The tenants don't make much noise. And
• 1:08:28
  Speaker 2: the street lights are always on. Electric bills low.
• 1:08:34
  Speaker 1: Running into a lot of issues, but God, that just
• 1:08:37
  Speaker 1: broke him, man. He never recovered from that. Dude, I
• 1:08:41
  Speaker 1: met a dude yesterday in Tennessee. He said he took
• 1:08:43
  Speaker 1: out an $ 800 life insurance policy on his wife.
• 1:08:48
  Speaker 2: I'm like, $ 800? That's pretty insulting.
• 1:08:51
  Speaker 1: Well, yeah, that's what I felt like. I'm like, dude,
• 1:08:55
  Speaker 1: do not tell her that. I was like, she's going
• 1:08:57
  Speaker 1: to be pissed off.
• 1:08:58
  Speaker 2: Yeah, this is like.
• 1:09:00
  Speaker 1: like, well, my truck payment's $ 7.
• 1:09:01
  Speaker 2: 99 a month, so. That solves it.
• 1:09:06
  Speaker 1: Yeah, speaking of like, yeah, like kind of traps, I guess,
• 1:09:09
  Speaker 1: like what are, like, so a lot of things you've
• 1:09:11
  Speaker 1: spoken out against crypto, I know. I'm not a crypto fan.
• 1:09:14
  Speaker 1: I lost $ 2, 000 in crypto just like every one of
• 1:09:16
  Speaker 1: my friends did when it first came out, right? Mm-hmm.
• 1:09:20
  Speaker 1: like NFTs, things like that, that kind of pop up
• 1:09:23
  Speaker 1: that really, they're almost, to me, some of them seem
• 1:09:26
  Speaker 1: like the modern day.
• 1:09:27
  Speaker 2: Pyramid scheme in a way. The emu farm.
• 1:09:29
  Speaker 3: Yeah.
• 1:09:30
  Speaker 1: Yeah. Yeah. It's a lot of emu.
• 1:09:31
  Speaker 2: Farms, baby.
• 1:09:33
  Speaker 1: What do you, how do you, why are more people
• 1:09:35
  Speaker 1: falling susceptible to these types of things, do you think?
• 1:09:39
  Speaker 2: We always have. It's human nature. We want, we're wired
• 1:09:44
  Speaker 2: by God to look for the shortest path. to look
• 1:09:49
  Speaker 2: for optimum, to look for the best, the quickest, the easiest.
• 1:09:53
  Speaker 2: And there's nothing wrong with that. That makes our lives
• 1:09:55
  Speaker 2: better because we create inventions and things that make our
• 1:09:57
  Speaker 2: lives better. That very wiring created the automobile or created
• 1:10:02
  Speaker 2: the iPhone or created things that make our lives better.
• 1:10:04
  Speaker 2: And so that's a good wiring. But where it gets
• 1:10:07
  Speaker 2: off track is where we think we can short circuit
• 1:10:12
  Speaker 2: a proven process. And it causes you to jump from
• 1:10:15
  Speaker 2: investor to speculator. And investors are always the crockpot. They're
• 1:10:19
  Speaker 2: always the long play. They're always saying, okay, I'm going
• 1:10:22
  Speaker 2: to invest in mutual funds. I don't care what stock
• 1:10:25
  Speaker 2: market did this year. I'm thinking, what's it going to
• 1:10:27
  Speaker 2: be in 20 years? What's it going to be in
• 1:10:29
  Speaker 2: 15 years? And how am I going to be doing?
• 1:10:31
  Speaker 2: And so I'm thinking long term. The speculator needs a
• 1:10:36
  Speaker 2: quick flip. And so Bitcoin has never really been about investing.
• 1:10:42
  Speaker 2: It's a speculation. It's a short-term play. No one bought
• 1:10:45
  Speaker 2: that and said, You know, in 20 years, this is
• 1:10:47
  Speaker 2: going to look brilliant. No one did. They all thought
• 1:10:50
  Speaker 2: quick money, easy money. No one flips houses with nothing
• 1:10:54
  Speaker 2: down that they saw on TikTok. You know, quick flip,
• 1:10:58
  Speaker 2: quick flip. When a builder even builds a home that
• 1:11:03
  Speaker 2: they're not custom building, they call it a spec house.
• 1:11:06
  Speaker 2: It means speculation. They're speculating that they're going to sell
• 1:11:10
  Speaker 2: that house. It's a short-term play. They're not building that
• 1:11:13
  Speaker 2: house in that subdivision space. hoping to sit on it
• 1:11:16
  Speaker 2: 10 years they're building a hope to sit on 10
• 1:11:18
  Speaker 2: days right and so it's speculation so where you get
• 1:11:22
  Speaker 2: confused where you mess up is where you can fall
• 1:11:25
  Speaker 2: into scams and get rich quick and violate basic investing
• 1:11:29
  Speaker 2: principles is when you move from investing which is long-term
• 1:11:33
  Speaker 2: mentality to speculation which is quick hit i want quick
• 1:11:36
  Speaker 2: money easy money quick money easy money and that's that
• 1:11:38
  Speaker 2: wiring that's positive wiring gone astray yeah you know become
• 1:11:42
  Speaker 2: toxic and so Uh, and, and in a sense, that's
• 1:11:46
  Speaker 2: what happened to me when I went broke in real estate,
• 1:11:47
  Speaker 2: because I was buying houses. I was doing flip this
• 1:11:50
  Speaker 2: house before Chip and Joanna were born, you know? And
• 1:11:52
  Speaker 2: so that's what we were, we were getting it. And
• 1:11:55
  Speaker 2: I've owned like 2000 houses in my life. So I was,
• 1:11:57
  Speaker 2: I was churning them, man, but I was doing it
• 1:11:59
  Speaker 2: on 90 day notes, short-term notes, because I was not
• 1:12:02
  Speaker 2: buying them as a long-term play. I was buying them,
• 1:12:04
  Speaker 2: fix them and flip them. And the bank got sold
• 1:12:07
  Speaker 2: to another bank. They look up and they can call
• 1:12:09
  Speaker 2: my notes in 90 days. So they called a million
• 1:12:11
  Speaker 2: two in 90 days and it crashed me. Because I
• 1:12:13
  Speaker 2: was a speculator, I wasn't an investor. Now, I would
• 1:12:16
  Speaker 2: have told you I was a real estate investor.
• 1:12:18
  Speaker 3: Right.
• 1:12:18
  Speaker 2: But the actual definition of the term investor means longer-term horizon,
• 1:12:24
  Speaker 2: long window. And so if it's, thank God it's Friday, oh, God,
• 1:12:27
  Speaker 2: it's Monday. If I've got to move it this calendar
• 1:12:29
  Speaker 2: year or in the next two calendar years to make
• 1:12:31
  Speaker 2: money on it, then you're playing the roulette wheel. You're
• 1:12:34
  Speaker 2: playing Texas Hold'em. That's speculation. You're gambling. And that's a
• 1:12:39
  Speaker 2: different thing. It's okay if you want to do some
• 1:12:40
  Speaker 2: of that, but quit calling it investing. Because then it
• 1:12:44
  Speaker 2: causes you to put too dadgum much money in it
• 1:12:45
  Speaker 2: because you lose your butt then. And that's where you
• 1:12:47
  Speaker 2: get scammed is you're looking for something for nothing quick,
• 1:12:51
  Speaker 2: a quick turn, double my money fast because I don't
• 1:12:54
  Speaker 2: think I can get there long term. So I'm so
• 1:12:57
  Speaker 2: desperate and so scared, so fearful, so greedy that I
• 1:13:00
  Speaker 2: got to get it right now. And that's what I
• 1:13:02
  Speaker 2: was doing. And it worked. I got a million dollars
• 1:13:04
  Speaker 2: worth of stuff, but I didn't keep it because I
• 1:13:06
  Speaker 2: built a house of cards.
• 1:13:07
  Speaker 1: Mm-hmm. Obviously, when you work, sometimes it's weird. Like, people
• 1:13:10
  Speaker 1: ask me, like, what hobbies do I have and stuff?
• 1:13:12
  Speaker 1: But the weird thing is, like, a lot of my
• 1:13:15
  Speaker 1: hobbies became my jobs, you know. Is that kind of
• 1:13:21
  Speaker 1: what happened for you, or do you still, like, have
• 1:13:23
  Speaker 1: things you like to do outside of?
• 1:13:26
  Speaker 2: You know, as I got further down in the business
• 1:13:29
  Speaker 2: in the last several decades, I actually do have things
• 1:13:31
  Speaker 2: I do outside of here. But in the first few decades,
• 1:13:35
  Speaker 2: it was just, you're right. I get great joy out
• 1:13:38
  Speaker 2: of the stuff we do. Yeah. We help people. You know,
• 1:13:41
  Speaker 2: a lot of people are scared. They're broken. They're about
• 1:13:43
  Speaker 2: to lose their house. They've been through bankruptcy. Their marriage
• 1:13:45
  Speaker 2: is on the rocks, whatever. We're able to help them.
• 1:13:47
  Speaker 2: And that's, you know, it's wonderful. I have a lot
• 1:13:49
  Speaker 2: of fun doing the show still. Again, I mean, once
• 1:13:54
  Speaker 2: you've been on stage with an audience, our gig's a
• 1:13:56
  Speaker 2: different gig, but it's still, you know, It's fun to
• 1:13:58
  Speaker 2: be with people.
• 1:13:59
  Speaker 1: Yeah.
• 1:13:59
  Speaker 2: And it's fun to be with people that want to
• 1:14:01
  Speaker 2: be there, you know, and it's addicting in that regard.
• 1:14:04
  Speaker 2: So I enjoy that whole thing. I enjoy that scene.
• 1:14:07
  Speaker 2: I enjoy running the business. But I also have picked
• 1:14:09
  Speaker 2: up a few things away from here so that distractions
• 1:14:12
  Speaker 2: and I don't know if they're hobbies, I guess, but
• 1:14:15
  Speaker 2: I end up collecting stuff or whatever, doing that kind
• 1:14:17
  Speaker 2: of stuff. But there's nothing wrong with, especially in the
• 1:14:22
  Speaker 2: first couple decades, with almost all your energy doing that
• 1:14:25
  Speaker 2: other than family stuff. Yeah.
• 1:14:28
  Speaker 1: Um, what are some, like, obviously you've learned a lot
• 1:14:30
  Speaker 1: of financial lessons over the years. Like what were some
• 1:14:32
  Speaker 1: personal lessons that you had to learn along the way too,
• 1:14:35
  Speaker 1: that like kind of helped you? Like, was there some
• 1:14:37
  Speaker 1: things that have kind of stood out to you, you
• 1:14:38
  Speaker 1: feel like?
• 1:14:39
  Speaker 2: You know, I, um, yeah, I didn't know how to lead.
• 1:14:47
  Speaker 2: I mean, like you said earlier, we're talking about hiring
• 1:14:49
  Speaker 2: an employee. I just, I was so dumb that I
• 1:14:54
  Speaker 2: thought if you hired people that they would like work. Yeah,
• 1:14:58
  Speaker 2: they knew what to do. Well, no, that they would
• 1:14:59
  Speaker 2: just actually work. I thought they would just show up.
• 1:15:02
  Speaker 2: I thought they'd be on time. I didn't think they'd steal.
• 1:15:04
  Speaker 2: I was so dumb that I thought all that. So
• 1:15:07
  Speaker 2: I just, like, if you could fog up a mirror, yeah,
• 1:15:09
  Speaker 2: let's go do this together, man. Come on, get in here.
• 1:15:11
  Speaker 2: I'll put you on payroll. Let's go. And then I
• 1:15:13
  Speaker 2: got all this crazy and all this drama and all
• 1:15:15
  Speaker 2: this other stuff. I was horrible. And I was pretty
• 1:15:18
  Speaker 2: much a boss. Bosses push. Leaders pull. And, man, when
• 1:15:25
  Speaker 2: I was 32 years old, I didn't get that. And
• 1:15:27
  Speaker 2: we hired our first person when I was 32. And so,
• 1:15:31
  Speaker 2: you know, over the years, I've had to learn to
• 1:15:33
  Speaker 2: not be behind. Because, I mean, if you're a boss,
• 1:15:35
  Speaker 2: you're just at the back of the cattle and cracking
• 1:15:38
  Speaker 2: the whip. And it's like you're moving at the speed
• 1:15:41
  Speaker 2: of the slowest cow, you know, like the slowest common
• 1:15:44
  Speaker 2: denominator in the room. You know, it's like you get on.
• 1:15:48
  Speaker 2: If you're a leader, you're standing at the train going,
• 1:15:51
  Speaker 2: we're leaving. Anybody want to get on? Because this thing's going.
• 1:15:55
  Speaker 3: Right.
• 1:15:55
  Speaker 2: You better keep up. Because we're going hard, and you
• 1:15:59
  Speaker 2: better get it. And so I had to get around
• 1:16:02
  Speaker 2: front of that and say, all right, I'm going to lead.
• 1:16:04
  Speaker 2: And then I went to this Christian conference with a
• 1:16:06
  Speaker 2: guy named John Maxwell, who's become a great friend. He's
• 1:16:09
  Speaker 2: one of the top leadership speakers in the world.
• 1:16:11
  Speaker 1: Is he really?
• 1:16:11
  Speaker 2: And he said, you know, you should be a servant leader.
• 1:16:17
  Speaker 2: And I went, say what? I'm the one writing the check.
• 1:16:20
  Speaker 2: I ain't the servant. I'm confused here. And I thought
• 1:16:25
  Speaker 2: he meant subservient. And what he meant was you got
• 1:16:29
  Speaker 2: to love your people and you got to care what's
• 1:16:31
  Speaker 2: best for them. And sometimes that means telling them hard
• 1:16:34
  Speaker 2: truth that they don't want to hear. Sometimes it means
• 1:16:37
  Speaker 2: they can't work anymore because they can't behave, you know,
• 1:16:41
  Speaker 2: that kind of stuff. And so I realized I had
• 1:16:44
  Speaker 2: been serving my kids by making them brush their teeth
• 1:16:46
  Speaker 2: against their will. So they have some teeth later. That's
• 1:16:49
  Speaker 2: serving them. So it's a servant leader, right? And so, yeah,
• 1:16:53
  Speaker 2: I'm good with servant leadership. And so I had to
• 1:16:55
  Speaker 2: learn that. Again, I suck. I was a horrible boss.
• 1:16:58
  Speaker 2: Cause I just, I was going so hard. I thought
• 1:17:00
  Speaker 2: everybody else was going hard and I was pissed off
• 1:17:02
  Speaker 2: cause they weren't keeping up.
• 1:17:03
  Speaker 1: Yeah.
• 1:17:04
  Speaker 2: And I'm like, well, you hired a bunch of donkeys
• 1:17:05
  Speaker 2: and expect to win the dadgum Kentucky Derby and no
• 1:17:08
  Speaker 2: donkey ever won, man. So we had to look for
• 1:17:10
  Speaker 2: thoroughbreds and have a donkey ectomy and it was a problem, man.
• 1:17:15
  Speaker 2: And so, yeah, I was, I sucked. And, and I'm, I'm,
• 1:17:19
  Speaker 2: I mean, I'm a world-class leader today. It's one of
• 1:17:21
  Speaker 2: the things I'm best at. I love our people. I
• 1:17:23
  Speaker 2: love our team. I, The way this place functions and operates,
• 1:17:26
  Speaker 2: it's one of the best places in Nashville to work,
• 1:17:27
  Speaker 2: probably one of the best places in the world to work.
• 1:17:30
  Speaker 2: And it's not perfect. We screw up, but we treat
• 1:17:33
  Speaker 2: people right. We care about them, and we expect high
• 1:17:35
  Speaker 2: things out of them. We expect them to get it,
• 1:17:38
  Speaker 2: and they do. We've got a great team. Wow.
• 1:17:41
  Speaker 1: Yeah, I think that's something that I have solely had
• 1:17:43
  Speaker 1: to– yeah, that's been a tough journey for me. Even
• 1:17:48
  Speaker 1: just having a few employees, it's like you're suddenly– yeah.
• 1:17:52
  Speaker 2: Yeah.
• 1:17:53
  Speaker 1: You're suddenly a boss. You didn't even want to be
• 1:17:55
  Speaker 1: a boss. Like some of that too. I think just
• 1:17:56
  Speaker 1: a realization like, oh, I'm the boss, I guess.
• 1:18:00
  Speaker 3: You know?
• 1:18:00
  Speaker 2: And they're like, well, yeah, you are.
• 1:18:01
  Speaker 1: And I'm like, well, I was just trying to get
• 1:18:04
  Speaker 1: crap done, you know?
• 1:18:05
  Speaker 2: Who knew, you know? And I needed somebody to do
• 1:18:08
  Speaker 2: that thing. And you brought you in to do that thing.
• 1:18:10
  Speaker 2: And then you brought all your crap with you when
• 1:18:12
  Speaker 2: you did that. Now I got to deal with your crap. So,
• 1:18:14
  Speaker 2: you know, and that's been a 30-year journey. And so-
• 1:18:19
  Speaker 2: That's huge. Boss versus leader. That's so, it's really- It's
• 1:18:22
  Speaker 2: such a good way to look at it. And would
• 1:18:25
  Speaker 2: you go to conferences and stuff to learn about that
• 1:18:27
  Speaker 2: stuff too? Because I'm sure you had to evolve in
• 1:18:29
  Speaker 2: that space. I did. I read like a maniac. And
• 1:18:31
  Speaker 2: so I'm going to read leadership books, business books. I
• 1:18:34
  Speaker 2: still read like crazy. I love to get new information.
• 1:18:37
  Speaker 2: In this digital age, an old guy like me, I'm
• 1:18:41
  Speaker 2: sitting in these meetings with these studs, and I don't
• 1:18:43
  Speaker 2: even know what they're saying. And they work for me.
• 1:18:46
  Speaker 2: I'm like, what did you just say? So I have
• 1:18:48
  Speaker 2: to keep up. I mean, I got to keep up.
• 1:18:50
  Speaker 2: work hard. I gotta pedal hard just to stay on
• 1:18:52
  Speaker 2: the bike. And so, um, yeah, I still do that
• 1:18:55
  Speaker 2: stuff and I still, you know, hang out. And the
• 1:18:57
  Speaker 2: good news is some of the guys that are the
• 1:18:59
  Speaker 2: best writers and thinkers in the world have become friends
• 1:19:01
  Speaker 2: over the years now. And so they're my running buddies.
• 1:19:04
  Speaker 2: So we hang out and I get to talk offline
• 1:19:05
  Speaker 2: with them and they still teaching me stuff. It's cool.
• 1:19:08
  Speaker 2: What about, like, fiction? You read anything like that ever? Oh, yeah, always.
• 1:19:11
  Speaker 1: Yeah?
• 1:19:12
  Speaker 2: All the Jack Carr stuff. You read Jack?
• 1:19:14
  Speaker 3: Yeah.
• 1:19:14
  Speaker 2: Yeah, I read all that stuff. And Brad Thor's a friend.
• 1:19:16
  Speaker 2: I read all his stuff, all those spy novels and stuff.
• 1:19:20
  Speaker 2: Fiction makes airplanes fly fast. Yeah, it does, huh?
• 1:19:25
  Speaker 1: Yeah, Jack Carr, that's wild, dude. Yeah, I was, like,
• 1:19:28
  Speaker 1: a big John Grisham fan when I was growing up.
• 1:19:30
  Speaker 2: Yeah, I read all of his. Every one of his.
• 1:19:33
  Speaker 1: And.
• 1:19:34
  Speaker 2: Daniel Silva's the guy. He writes, like... the, uh, the character,
• 1:19:39
  Speaker 2: the prog, uh, prognostic is, um, uh, an Israeli Mossad, uh, spy,
• 1:19:46
  Speaker 2: you know, versus Jack cars as a former seal team. And,
• 1:19:49
  Speaker 2: you know, and Brad Thor's is all the same stuff.
• 1:19:52
  Speaker 2: You know, they're, they're all former Delta, former seal or whatever,
• 1:19:54
  Speaker 2: that kind of stuff. So it's in the same genre
• 1:19:57
  Speaker 2: and I've read all of his stuff too. But again,
• 1:19:59
  Speaker 2: I just, that, so yeah, I do read fiction. Yeah.
• 1:20:01
  Speaker 2: Something you like.
• 1:20:01
  Speaker 3: Yeah.
• 1:20:03
  Speaker 1: Um, when people look at like, um, There's an election
• 1:20:07
  Speaker 1: this year. It's an election year. When people look at
• 1:20:09
  Speaker 1: the election, do you feel like who they vote for
• 1:20:13
  Speaker 1: could have an effect on their future finances?
• 1:20:18
  Speaker 2: Sure.
• 1:20:18
  Speaker 1: Sure.
• 1:20:20
  Speaker 2: Not as much as the candidates would like you to believe.
• 1:20:23
  Speaker 1: Right.
• 1:20:25
  Speaker 2: It turns out that I've done stupid stuff under every
• 1:20:28
  Speaker 2: single White House, and I have done smart stuff under
• 1:20:31
  Speaker 2: every single White House, and I've increased the size of
• 1:20:33
  Speaker 2: our business under every single White House. None of them
• 1:20:36
  Speaker 2: have been dumb enough to destroy my life, and none
• 1:20:39
  Speaker 2: of them have ever sent me any money. Yeah. So
• 1:20:42
  Speaker 2: most of them don't even send me my money back. So,
• 1:20:46
  Speaker 2: you know, what happens at your house is way more
• 1:20:48
  Speaker 2: important than what happens at the White House. But, yeah,
• 1:20:50
  Speaker 2: policy does matter. It changes whether we've got $ 3 gas
• 1:20:53
  Speaker 2: or $ 5 gas, you know. And that matters because if
• 1:20:59
  Speaker 2: you run a heat and air company and you've got
• 1:21:00
  Speaker 2: 30 trucks out there and you're trying to feed your
• 1:21:02
  Speaker 2: family and trying to feed that guy who's on that
• 1:21:03
  Speaker 2: truck's family, And the gas price doubles on that– run
• 1:21:07
  Speaker 2: that truck down the road to fix somebody's heat and air.
• 1:21:08
  Speaker 2: It changes the whole P & L on that company.
• 1:21:11
  Speaker 2: And then that guy wants a raise and it ain't
• 1:21:12
  Speaker 2: there because some doober at the White House turned the
• 1:21:14
  Speaker 2: faucet on or off on the oil. And that stuff matters.
• 1:21:17
  Speaker 2: That shows up. And so, you know, policy does matter
• 1:21:22
  Speaker 2: in that regard because it affects things. And policy during
• 1:21:26
  Speaker 2: stressful times matters because it– whether people feel– Ronald Reagan
• 1:21:31
  Speaker 2: didn't do anything special, but he made people feel like
• 1:21:33
  Speaker 2: it was going to be prosperous. Whether you agree with
• 1:21:35
  Speaker 2: him or not, he was a motivator. He was aspirational.
• 1:21:39
  Speaker 2: That's a good point. He didn't really have any magic
• 1:21:44
  Speaker 2: wands that he waved at the Reaganomics. Art Laffer, that
• 1:21:49
  Speaker 2: wrote the Reaganomics stuff, lives here in town. He's a
• 1:21:51
  Speaker 2: friend of mine. He was on Reagan's cabinet at the time.
• 1:21:53
  Speaker 2: He's in his 80s. Wonderful man. Brilliant man. But Art
• 1:21:56
  Speaker 2: Laffer did not turn America around Ronald Reagan. But Ronald
• 1:21:59
  Speaker 2: Reagan made people believe again. And when you can believe
• 1:22:03
  Speaker 2: instead of believe everything's bad, it's horrible, it's divisive, we're
• 1:22:06
  Speaker 2: not going to do anything. People sit at home and
• 1:22:08
  Speaker 2: they don't do things. And then the economy starts to,
• 1:22:10
  Speaker 2: that stuff does have an effect. But you can win
• 1:22:13
  Speaker 2: in any situation. So vote for who you want to
• 1:22:16
  Speaker 2: vote for. But don't vote for them because they're going
• 1:22:19
  Speaker 2: to fix your life because they're not. That's a great statement. Yeah.
• 1:22:24
  Speaker 1: In the end, it really comes down to you, doesn't it?
• 1:22:27
  Speaker 1: you still believe that it really seems like that.
• 1:22:28
  Speaker 2: Yeah, I really do. Um, you know, John Stossel wanted
• 1:22:32
  Speaker 2: to interview me many years ago when, back when he
• 1:22:34
  Speaker 2: did 2020 and all that stuff. And he was a
• 1:22:36
  Speaker 2: scary dude. Cause you know, if he's going to come
• 1:22:38
  Speaker 2: at your throat or whether he's going to be a
• 1:22:39
  Speaker 2: friend in an interview. And we went down there and
• 1:22:42
  Speaker 2: we were sitting off stage, our own stage, I guess,
• 1:22:45
  Speaker 2: doing the interview. And he said, you know, I've read
• 1:22:47
  Speaker 2: all your stuff. And I'm, and he goes, I think, uh,
• 1:22:51
  Speaker 2: I don't think you're as much of a conservative as
• 1:22:53
  Speaker 2: you think you are. He said, I think you're a, uh,
• 1:22:56
  Speaker 2: a social conservative and an economic libertarian. Okay, I'll go
• 1:23:01
  Speaker 2: with that. And so, yeah, the economic libertarian would say,
• 1:23:06
  Speaker 2: you know, if it's to be, it's up to me.
• 1:23:08
  Speaker 2: Get up, go mow some grass, get you a pressure washer,
• 1:23:11
  Speaker 2: get your butt in gear. And, you know, the government's
• 1:23:15
  Speaker 2: just something you've got to overcome. They're in the way.
• 1:23:18
  Speaker 2: They're not going to lift me. If I'm waiting on
• 1:23:20
  Speaker 2: the government to lift me, all I can think about
• 1:23:22
  Speaker 2: is the DMV line. I mean, come on. You know,
• 1:23:25
  Speaker 2: so I'm that guy. But it comes out of my
• 1:23:28
  Speaker 2: Scotch-Irish redneck history. You know, I mean, the Scotch-Irish have
• 1:23:32
  Speaker 2: always been fighting everything. They've always been independent.
• 1:23:35
  Speaker 1: Yeah.
• 1:23:35
  Speaker 2: Think of Braveheart, you know, as independent. High blood pressure, too. Yeah.
• 1:23:39
  Speaker 2: Always looking for a fight.
• 1:23:40
  Speaker 1: Yeah.
• 1:23:40
  Speaker 2: You know, always looking to stir something up. If there's
• 1:23:43
  Speaker 2: no drama, just make some.
• 1:23:45
  Speaker 1: Yeah.
• 1:23:45
  Speaker 2: And so that, you know, I made a good living
• 1:23:47
  Speaker 2: doing it, though. Yeah.
• 1:23:50
  Speaker 1: Where'd you meet your wife at, Dave?
• 1:23:51
  Speaker 2: College. Oh, you did? Yeah, marketing class.
• 1:23:54
  Speaker 1: Nice. Nice. And you went to college in Tennessee or not?
• 1:23:56
  Speaker 2: I did, University of Tennessee. You did? We both graduated
• 1:23:58
  Speaker 2: from UT, yeah.
• 1:23:59
  Speaker 1: Nice, dude. Is there a better place to see a
• 1:24:01
  Speaker 1: football game than Neyland?
• 1:24:02
  Speaker 3: Wow.
• 1:24:03
  Speaker 2: It's a religion. Yeah, it really is. It's wild.
• 1:24:05
  Speaker 1: It's so sweet over there.
• 1:24:06
  Speaker 2: When they're winning, especially. Yeah. It's kind of nice lately. Yeah,
• 1:24:10
  Speaker 2: it helps.
• 1:24:10
  Speaker 1: The past two years has been definitely a good time
• 1:24:12
  Speaker 1: to get on board.
• 1:24:13
  Speaker 2: Not good being with 110,000 people when you're losing because
• 1:24:15
  Speaker 2: they are angry rednecks, but yeah. Me, I'm one of them.
• 1:24:18
  Speaker 2: I'm like, oh, I'm pissed, but yeah. Do you go
• 1:24:20
  Speaker 2: to some games ever? We had suite seats for years
• 1:24:26
  Speaker 2: when our kids were down there, and so we'd go
• 1:24:27
  Speaker 2: down almost every game. But the kids are grown and
• 1:24:31
  Speaker 2: got grandkids, and we're traveling, doing other stuff, so we
• 1:24:33
  Speaker 2: gave those up. So I'm not mad about it. It's
• 1:24:36
  Speaker 2: just kind of that phase went away. I watch it
• 1:24:38
  Speaker 2: on the TV now, but it's a better experience anyway.
• 1:24:43
  Speaker 1: Where did you meet your wife at at school, do
• 1:24:45
  Speaker 1: you remember?
• 1:24:46
  Speaker 2: Where, at school?
• 1:24:47
  Speaker 1: Yeah.
• 1:24:47
  Speaker 2: Yeah, in marketing class. Oh, in class. You saw her, huh? Yeah,
• 1:24:50
  Speaker 2: she was cheating off my paper.
• 1:24:51
  Speaker 1: Was she really?
• 1:24:54
  Speaker 2: But she was cute, so I thought it was a
• 1:24:55
  Speaker 2: good idea. I let her look over, huh? It was
• 1:24:57
  Speaker 2: a good idea, yeah. It's your paper. It's your paper, honey.
• 1:25:03
  Speaker 1: Have you ever been approached by, like, I know you've
• 1:25:06
  Speaker 1: had different, obviously, books and, like, programs for people to
• 1:25:13
  Speaker 1: achieve wealth and to save their money. Mm-hmm. Have you
• 1:25:17
  Speaker 1: ever had a package or something that you've taken to
• 1:25:20
  Speaker 1: a shark tank or to something like that where they've
• 1:25:23
  Speaker 1: tried to?
• 1:25:25
  Speaker 2: No, because we kind of bootstrapped every bit of this.
• 1:25:28
  Speaker 2: It was just like we make a little money, we
• 1:25:29
  Speaker 2: try something new with that money. We make a little
• 1:25:31
  Speaker 2: more money, we try something new with that money. Again,
• 1:25:34
  Speaker 2: we've lost a lot of money, done a lot of
• 1:25:35
  Speaker 2: stupid stuff doing that, but we've also done some things
• 1:25:37
  Speaker 2: right that have worked. We're the second largest talk radio
• 1:25:43
  Speaker 2: show in America, 680 stations. about 10 million listeners on
• 1:25:46
  Speaker 2: talk radio alone. Hannity's number one. Rush was number one.
• 1:25:51
  Speaker 2: Hannity was two. We were three. Rush passed away. Not
• 1:25:54
  Speaker 2: a good way to get to be number two, but
• 1:25:55
  Speaker 2: it happened. I mean, he's Elvis. He invented rock and roll.
• 1:25:58
  Speaker 2: He invented talk radio.
• 1:26:00
  Speaker 1: And both of them did pills too, I think, to
• 1:26:04
  Speaker 1: be honest.
• 1:26:04
  Speaker 2: I have no idea.
• 1:26:05
  Speaker 1: I've done them, but I'm just saying, yeah.
• 1:26:07
  Speaker 2: I have no idea. But anyway, so anyway, we started
• 1:26:09
  Speaker 2: in that world when it grew and grew and grew
• 1:26:12
  Speaker 2: and grew. And I remember the day a guy walked
• 1:26:14
  Speaker 2: in my office and said, Hey, we need a podcast.
• 1:26:17
  Speaker 2: And I'm like, what the flip is a podcast? And
• 1:26:20
  Speaker 2: he goes, I said, why do I need one? And
• 1:26:21
  Speaker 2: he goes, it's the thing. And man, it was a
• 1:26:23
  Speaker 2: long time ago. So we were one of the first
• 1:26:25
  Speaker 2: podcasts on Apple way back. And cause a lot of
• 1:26:30
  Speaker 2: people on talk radio didn't want to put it on
• 1:26:31
  Speaker 2: podcasts because it competed with their radio stations. Right. So
• 1:26:35
  Speaker 2: you're competing with your own numbers. Yeah. And you're messing,
• 1:26:37
  Speaker 2: messing up everything. And you know, now, I mean, Spotify, Apple,
• 1:26:41
  Speaker 2: we're number one, two, three on Apple. Right in there
• 1:26:44
  Speaker 2: hovering me and Rogan and some NPR murder mystery stuff
• 1:26:48
  Speaker 2: or something.
• 1:26:49
  Speaker 1: Always.
• 1:26:50
  Speaker 2: Always hanging out in the top ten there. So we're
• 1:26:52
  Speaker 2: bouncing around in there. And we've had a billion and
• 1:26:54
  Speaker 2: a half downloads now. And I'm like, what's a podcast? So, yeah,
• 1:27:00
  Speaker 2: you start new stuff. And then YouTube. Good God, the
• 1:27:02
  Speaker 2: numbers on YouTube are just cray cray. And so gone
• 1:27:06
  Speaker 2: up into the right hockey stick. And so now those
• 1:27:08
  Speaker 2: two have now eclipsed. um, the, the talk radio business.
• 1:27:13
  Speaker 2: And so now I'm a podcaster apparently. Um, at least
• 1:27:15
  Speaker 2: you evolved with it though, you know? Well, yeah. I mean,
• 1:27:17
  Speaker 2: cause we're, we're platform agnostic. I mean, we're, wherever the,
• 1:27:20
  Speaker 2: wherever the action is, that's where we're going to be.
• 1:27:22
  Speaker 2: And we didn't abandon when we didn't, we're still dancing
• 1:27:25
  Speaker 2: with the girl that brought us, you know? So we're
• 1:27:27
  Speaker 2: still with talk radio, still got 680 stations, still love
• 1:27:29
  Speaker 2: talk radio. Uh, but, and you know, we're on Sirius XM,
• 1:27:32
  Speaker 2: Sirius XM came on. It was two companies, Sirius and XM.
• 1:27:35
  Speaker 2: We went on both of them and everybody's mad. You
• 1:27:37
  Speaker 2: can't be on both and be on talk radio. I'm like, yeah,
• 1:27:39
  Speaker 2: I'm on everything. I'm on podcast and then we put
• 1:27:42
  Speaker 2: it on YouTube and then, then, you know, Facebook live.
• 1:27:45
  Speaker 2: I mean, crap, we'll try anything. Tick tock. Good God
• 1:27:48
  Speaker 2: help us. We're on tick tock. We're all on. So,
• 1:27:50
  Speaker 2: you know, it's like the Chinese, they say, that's it, man.
• 1:27:53
  Speaker 2: Tick tock. Here we go. So, but the, um, but Hey,
• 1:27:56
  Speaker 2: you know, and cause you never know which one of
• 1:27:58
  Speaker 2: these things is going to become the next my space
• 1:28:00
  Speaker 2: and just disappear. And you don't know which one of
• 1:28:04
  Speaker 2: these other things. So I don't want to bet this
• 1:28:05
  Speaker 2: whole thing and all these 1100 people are counting on
• 1:28:07
  Speaker 2: me on one single platform. So, we're always innovating always
• 1:28:12
  Speaker 2: changing and moving.
• 1:28:14
  Speaker 1: Um yeah it's because yeah you kind of don't know
• 1:28:17
  Speaker 1: what yeah you don't know what the next thing can
• 1:28:19
  Speaker 1: be that's really going to go well um there was
• 1:28:21
  Speaker 1: something you said a second ago where like you made
• 1:28:25
  Speaker 1: some money and then you put it back into the
• 1:28:27
  Speaker 1: company right or you tried something new with it that
• 1:28:30
  Speaker 1: i think is a big like one of the craziest
• 1:28:33
  Speaker 1: things that ever happened to me was i was podcasting
• 1:28:36
  Speaker 1: in my apartment and a guy came along and he said, hey, man,
• 1:28:40
  Speaker 1: I'm going to give you some money. You can pod,
• 1:28:43
  Speaker 1: get you a studio, you know. And he, oh, he
• 1:28:47
  Speaker 1: bought some ads from me. He said, I'm going to
• 1:28:48
  Speaker 1: pay some ads for a pizza place. It was in
• 1:28:50
  Speaker 1: my neighborhood. And he said, I'm going to give you
• 1:28:54
  Speaker 1: some money. You should use it to get a studio.
• 1:28:56
  Speaker 1: And my first thought was, I want to keep that money.
• 1:28:59
  Speaker 2: Mm-hmm.
• 1:29:00
  Speaker 1: I never had any money.
• 1:29:01
  Speaker 2: I'm keeping this money. I'm not getting a studio.
• 1:29:03
  Speaker 1: I'll just do it in my apartment until it fades out,
• 1:29:07
  Speaker 1: and then I'll have the money I made from the ads.
• 1:29:10
  Speaker 2: But he was right.
• 1:29:10
  Speaker 1: He just saw that thing that I couldn't see of
• 1:29:12
  Speaker 1: putting the money back into getting myself a studio, which
• 1:29:16
  Speaker 1: then now I have a studio. It's a little bit
• 1:29:17
  Speaker 1: of a different place when people come. It's more of
• 1:29:20
  Speaker 1: a business. It was so hard for me to see that, though.
• 1:29:24
  Speaker 2: Well, and we get to see, I mean, those of
• 1:29:26
  Speaker 2: us that are fanboys of your work, We get to
• 1:29:29
  Speaker 2: see a whole other side of you, you know, their stand-up,
• 1:29:32
  Speaker 2: and then these long-form interviews that you're doing. And here
• 1:29:35
  Speaker 2: I sit. Who knew that was going to happen? But,
• 1:29:36
  Speaker 2: I mean, I've seen a bunch of these long-forms that
• 1:29:38
  Speaker 2: you've done. And so it's a whole different thing. And
• 1:29:42
  Speaker 2: it's where people start to recognize what those of us
• 1:29:45
  Speaker 2: in the business of being on stage or in front
• 1:29:47
  Speaker 2: of a microphone have known. We know, for those of
• 1:29:50
  Speaker 2: you out there, you don't know this necessarily, but most
• 1:29:52
  Speaker 2: of the top-flight comedians are very bright, you know, comedy's hard.
• 1:30:00
  Speaker 2: It's more than one of the more, more hard art
• 1:30:03
  Speaker 2: forms to do acting. You can be dumb as a
• 1:30:05
  Speaker 2: rock and be an actor.
• 1:30:06
  Speaker 3: Yeah.
• 1:30:07
  Speaker 2: Cause you just try to be somebody else. That's all
• 1:30:08
  Speaker 2: you're doing. It's a process. Sorry, you actors that are friends.
• 1:30:11
  Speaker 1: Sorry.
• 1:30:11
  Speaker 2: But, but, uh, but I mean, comedy is, uh, you're, you're,
• 1:30:15
  Speaker 2: you're messing with people's lives. You're messing with every part
• 1:30:18
  Speaker 2: of things that mean something to them. And, and you're
• 1:30:21
  Speaker 2: twisting it at just the right way with right, with
• 1:30:23
  Speaker 2: the right hesitation, the right move of the, of the,
• 1:30:26
  Speaker 2: sentence structure and everything. It's, it's very difficult. We, you know,
• 1:30:29
  Speaker 2: we doing motivational speaking or teaching. I teach our guys.
• 1:30:33
  Speaker 2: If our audiences, if we got 2000, 3000 people in
• 1:30:36
  Speaker 2: an audience, if they don't laugh, laugh every seven minutes,
• 1:30:39
  Speaker 2: we're going to lose them.
• 1:30:40
  Speaker 3: Yeah.
• 1:30:41
  Speaker 2: And we're not comedians, but we have to study what
• 1:30:44
  Speaker 2: you guys do. So getting to see you do this has,
• 1:30:47
  Speaker 2: it's brilliant. It's a smart thing to do. It's the
• 1:30:49
  Speaker 2: same thing. Broken did the same thing. I mean, he
• 1:30:51
  Speaker 2: moved from, you know, comedy into those long forms and what,
• 1:30:55
  Speaker 2: everybody loves about Joe is the fabulous interviews. Yeah. And
• 1:30:59
  Speaker 2: I'm a fan boy of his. I watch a lot
• 1:31:01
  Speaker 2: of it. Oh yeah.
• 1:31:02
  Speaker 1: He's so good at learning information. He's so good at
• 1:31:03
  Speaker 1: retaining information.
• 1:31:05
  Speaker 2: He knows a lot about a lot of stuff.
• 1:31:07
  Speaker 1: Oh, if you stop, I had dinner with him the
• 1:31:08
  Speaker 1: other night after the UFC fights and yeah, you're just
• 1:31:11
  Speaker 1: ready to learn brother. You better, if you're going to
• 1:31:13
  Speaker 1: sit down with Joe Rogan, you better be ready to
• 1:31:14
  Speaker 1: learn something. It doesn't matter if it's over a bowl
• 1:31:17
  Speaker 1: of soup, a microphone.
• 1:31:18
  Speaker 2: Yeah.
• 1:31:18
  Speaker 1: He just loves learning, sharing information. He really is kind
• 1:31:22
  Speaker 1: of like a library, you know? Um, But what is
• 1:31:26
  Speaker 1: the mentality that people, it's more of like the mentality
• 1:31:29
  Speaker 1: of like investing back in yourself, you know, because there's
• 1:31:33
  Speaker 1: that fear that I want to just save this, you know?
• 1:31:37
  Speaker 2: Well, yeah, if you realize that no matter what you try,
• 1:31:42
  Speaker 2: some of it's not going to work, give yourself permission
• 1:31:44
  Speaker 2: to fail, then you say, okay, we're going to put
• 1:31:47
  Speaker 2: this money in. We're going to take some home and
• 1:31:49
  Speaker 2: enjoy it and be generous with it in the community
• 1:31:52
  Speaker 2: and invest some of it. But we're also going to
• 1:31:54
  Speaker 2: invest some of it in the best investment, which is
• 1:31:58
  Speaker 2: the freaking goose that's laying the golden eggs. Let's have
• 1:32:01
  Speaker 2: lots of these geese. Let's figure out different things we
• 1:32:04
  Speaker 2: can do, different ways we can move this business around.
• 1:32:07
  Speaker 2: Do we move to podcasting? Do we move to YouTube?
• 1:32:09
  Speaker 2: Do we build a studio? Do we build an event center?
• 1:32:12
  Speaker 2: Do we create an environment that is a whole different
• 1:32:15
  Speaker 2: thing than when I rent a theater somewhere else? Which
• 1:32:19
  Speaker 2: we do both. And we'll always go to these other
• 1:32:21
  Speaker 2: cities and always be on tour, always do these things.
• 1:32:24
  Speaker 2: But the events on this campus feel way different to
• 1:32:28
  Speaker 2: the customer when they come in here. Because we can
• 1:32:30
  Speaker 2: control all the freaking variables. I mean, we're Nick Saban
• 1:32:33
  Speaker 2: playing home game.
• 1:32:34
  Speaker 3: Yeah.
• 1:32:34
  Speaker 2: I mean, we know who cuts the grass. We know
• 1:32:37
  Speaker 2: who dialed the microphone in. I got a 2 dB
• 1:32:39
  Speaker 2: drop from the front of the stage to the back
• 1:32:41
  Speaker 2: of that auditorium.
• 1:32:42
  Speaker 3: Wow.
• 1:32:42
  Speaker 2: 2,500 seats. It's tight. And it's dialed in. And you
• 1:32:47
  Speaker 2: know how that sound crap is. It sounds even worse
• 1:32:49
  Speaker 2: in our world because we're voice. Music, you can just
• 1:32:51
  Speaker 2: turn it up if the sound's bad. Yeah. But, man,
• 1:32:54
  Speaker 2: you get in these auditoriums, you got bounce back, stinking
• 1:32:56
  Speaker 2: hockey arena, stinking hitting a concrete wall coming back at you.
• 1:33:00
  Speaker 2: You can hear yourself three times and can't even tell
• 1:33:02
  Speaker 2: what your timing is on stuff. Yeah, that's the worst.
• 1:33:04
  Speaker 2: You know what I'm talking about. So we've got all
• 1:33:06
  Speaker 2: that dialed in. That's a reinvestment back into something we
• 1:33:09
  Speaker 2: know is going to work.
• 1:33:09
  Speaker 1: Yeah. Yeah, that's a good point, man. Yeah, I think
• 1:33:12
  Speaker 1: that was a tough thing. It was tough for me to, like,
• 1:33:14
  Speaker 1: realize that one of my greatest assets can be myself.
• 1:33:17
  Speaker 2: Yeah.
• 1:33:18
  Speaker 1: You know, and be like, well, what if I really
• 1:33:20
  Speaker 1: want to invest in something to invest in myself?
• 1:33:23
  Speaker 2: Yeah.
• 1:33:24
  Speaker 1: How does generosity play? Like, there's a lot of fear
• 1:33:27
  Speaker 1: around generosity sometimes, you know, about, like, I have to
• 1:33:30
  Speaker 1: have made this.
• 1:33:30
  Speaker 2: I have to keep it all for me.
• 1:33:33
  Speaker 1: What has your journey been like with that in life,
• 1:33:36
  Speaker 1: or what have you learned about it?
• 1:33:37
  Speaker 2: You're exactly right. There is fear. around that and fear
• 1:33:41
  Speaker 2: is the motivator is, is if I give it away,
• 1:33:42
  Speaker 2: I'm going to have less, which mathematically, you know, if
• 1:33:46
  Speaker 2: I take a thousand bucks, I give away a hundred,
• 1:33:48
  Speaker 2: I got 900. So yeah, I'd get less, but that's
• 1:33:51
  Speaker 2: a short-term mentality. And, um, what I finally figured out
• 1:33:55
  Speaker 2: after studying this all these years and watching people who
• 1:33:58
  Speaker 2: are generous, there's a real correlation between people that build
• 1:34:01
  Speaker 2: wealth and people that are generous. Um, very few wealthy
• 1:34:04
  Speaker 2: people are really super greedy and don't give. Most of
• 1:34:07
  Speaker 2: them are very big givers. They're big tippers. They're not
• 1:34:10
  Speaker 2: like tight. They're not like mean about money. They're very
• 1:34:13
  Speaker 2: open-handed because they know they can get some more. So
• 1:34:16
  Speaker 2: what happens is generosity is not an action. It's a
• 1:34:19
  Speaker 2: character quality like integrity. Integrity is not an action. There
• 1:34:22
  Speaker 2: are actions that come out when you have integrity. There
• 1:34:25
  Speaker 2: are actions that come out when you are generous. Generous
• 1:34:28
  Speaker 2: people are the one hold the door open for you.
• 1:34:29
  Speaker 2: Generous people help you pick up the groceries when the
• 1:34:31
  Speaker 2: stupid bag they fall out and they're rolling all over
• 1:34:33
  Speaker 2: the parking lot in the grocery store and you're embarrassed
• 1:34:35
  Speaker 2: and But the generous person runs over and joins the
• 1:34:38
  Speaker 2: party and helps you pick up the canned goods and
• 1:34:40
  Speaker 2: all that. That's the generous person. The generous person is
• 1:34:44
  Speaker 2: other-centered instead of self-centered. And here's what's weird. Think about
• 1:34:51
  Speaker 2: who you want to work with. Think about who you
• 1:34:53
  Speaker 2: want to work for. Think about who you want on
• 1:34:55
  Speaker 2: your team. Think about the vendor that you want to
• 1:34:57
  Speaker 2: do business with, the next deal you want to do
• 1:34:59
  Speaker 2: on an advertiser. You want to deal with a selfish
• 1:35:02
  Speaker 2: person or a selfless person? other-centered person, self-centered or other-centered. Well,
• 1:35:08
  Speaker 2: generosity makes people highly attractive. We want to be around
• 1:35:13
  Speaker 2: generous people, not because they're going to give us money,
• 1:35:15
  Speaker 2: just because of who they are. They're just open-handed. They're
• 1:35:18
  Speaker 2: thinking about other people. And so there's this huge correlation
• 1:35:22
  Speaker 2: between generosity and prosperity. You tend to prosper because people
• 1:35:27
  Speaker 2: want you around. They want you in the deal because
• 1:35:29
  Speaker 2: you're not there for what you can get. You're we're
• 1:35:34
  Speaker 2: all going to win together. We don't have to kill
• 1:35:35
  Speaker 2: each other to win, you know? And so that's how
• 1:35:38
  Speaker 2: like Rush or Sean and I in the old days
• 1:35:40
  Speaker 2: or other people in the talk radio business, uh, Laura
• 1:35:44
  Speaker 2: Ingram was doing a talk radio show in those days.
• 1:35:45
  Speaker 2: She's on Fox personality. Now, you know, we're all friends,
• 1:35:48
  Speaker 2: even though we were, we were competitors, we were head
• 1:35:51
  Speaker 2: to head. If I'm not kind of the office station,
• 1:35:53
  Speaker 2: I get that station. So we're head to head, but
• 1:35:55
  Speaker 2: we also know I don't have to kill him to win.
• 1:35:58
  Speaker 2: I mean, I have to completely. So we don't, I don't,
• 1:36:01
  Speaker 2: I never talk bad about my competitors in that world
• 1:36:05
  Speaker 2: because I want to be a generous person. I want
• 1:36:06
  Speaker 2: to be a– and I'll help them. I've actually helped
• 1:36:09
  Speaker 2: every one of those people do different things over the time.
• 1:36:12
  Speaker 2: And so it's just interesting that– and then the giving
• 1:36:17
  Speaker 2: of money is a natural result for someone who has
• 1:36:20
  Speaker 2: the character quality of generosity. So, you know, and I
• 1:36:24
  Speaker 2: watch people. Okay, here's a stupid thing. This guy, I
• 1:36:27
  Speaker 2: was watching him the other day. He pulled up in
• 1:36:28
  Speaker 2: front of me at the restaurant, the valet parking right
• 1:36:32
  Speaker 2: here in Nashville. We have valet parkers everywhere.
• 1:36:36
  Speaker 1: Churches even have them. Yeah.
• 1:36:38
  Speaker 2: I mean, who's working valet? Okay. The Lord is my valet, dude.
• 1:36:41
  Speaker 2: I'm telling you, man. Well, there's that. But the guy
• 1:36:45
  Speaker 2: that's working valet, he's out there in the sun. He's
• 1:36:49
  Speaker 2: out there in the rain. He's putting up people's garbage.
• 1:36:53
  Speaker 2: They're not nice. You know, this is who's working the valet.
• 1:36:57
  Speaker 2: And this guy pulls up in a Mercedes, and I
• 1:36:59
  Speaker 2: know the car. It's a great car. It's about $ 120, 000, $ 130, 000 car.
• 1:37:02
  Speaker 2: And he hands.
• 1:37:03
  Speaker 1: The valet $ 5. I'm like, dude, that's just stupid. So
• 1:37:12
  Speaker 1: I pull up in my truck. You know, it's a
• 1:37:14
  Speaker 1: nice truck, but I pull up in my truck. I
• 1:37:16
  Speaker 1: hand the guy $ 20. I'm like, please take care of
• 1:37:20
  Speaker 1: my baby. You know where it was when I came out?
• 1:37:22
  Speaker 2: It was sitting right there. You know? So who prospered here?
• 1:37:26
  Speaker 2: Everybody won. Everybody won. But you didn't give Ferris Bueller's
• 1:37:29
  Speaker 2: day off the keys to your Mercedes for five bucks.
• 1:37:32
  Speaker 2: I mean, what kind of moron? I mean, seriously, that's
• 1:37:35
  Speaker 2: just short-sighted. That lack of generosity is short-sighted where it
• 1:37:39
  Speaker 2: sounds like I'm some kind of big guy because I
• 1:37:41
  Speaker 2: gave 20 bucks or whatever to park my stupid truck.
• 1:37:45
  Speaker 2: But I'm not. But there's a payoff there. Hey, my
• 1:37:48
  Speaker 2: truck didn't, there's another on my truck. It's sitting right there.
• 1:37:50
  Speaker 2: I don't have to wait on it when I come out.
• 1:37:51
  Speaker 2: The kid had a good night, at least partly because
• 1:37:54
  Speaker 2: of me. So I think everybody came out on this transaction.
• 1:37:58
  Speaker 1: Yeah.
• 1:37:58
  Speaker 2: So that's how generosity works.
• 1:38:00
  Speaker 1: Yeah, that's interesting. It's been slow to learn for me.
• 1:38:03
  Speaker 1: Not slow, but I think it's just been, yeah, I
• 1:38:07
  Speaker 1: just came from such a fear mentality. Yeah. You know,
• 1:38:10
  Speaker 1: we just didn't have any money. So it was like,
• 1:38:12
  Speaker 1: I remember I'd keep my money in a day. I'd
• 1:38:14
  Speaker 1: hide it.
• 1:38:15
  Speaker 2: Yeah.
• 1:38:15
  Speaker 1: God, I would hide that money. I would spend half
• 1:38:17
  Speaker 1: my day hiding my dang money, boy.
• 1:38:19
  Speaker 2: I met this guy. Digging up dirt and hiding it. Oh,
• 1:38:21
  Speaker 2: I understand. I met this guy He's an Orthodox Jewish rabbi.
• 1:38:25
  Speaker 2: And we've become good friends. Rabbi Daniel Lappin. Oh, he's
• 1:38:28
  Speaker 2: hiding some. He wrote a book.
• 1:38:29
  Speaker 3: No?
• 1:38:30
  Speaker 1: No.
• 1:38:30
  Speaker 2: He wrote a book called Thou Shall Prosper. And he
• 1:38:32
  Speaker 2: said the problem is when you have that fear is
• 1:38:34
  Speaker 2: you think money is like cake. Like if I get
• 1:38:38
  Speaker 2: a slice away, I got less cake. He said money's
• 1:38:40
  Speaker 2: not like cake. Money's like candles. When you light it,
• 1:38:44
  Speaker 2: you still got your candle. When you light another one,
• 1:38:46
  Speaker 2: you still got your candle. You light another one, you
• 1:38:48
  Speaker 2: still got your candle. That's how money works. Money will
• 1:38:50
  Speaker 2: grow around you when you're doing the right stuff that
• 1:38:53
  Speaker 2: you're supposed to be doing. I thought it was a
• 1:38:55
  Speaker 2: beautiful picture.
• 1:38:59
  Speaker 1: What role has faith played in your life? You mentioned
• 1:39:01
  Speaker 1: it a little bit. What's that been like for you?
• 1:39:05
  Speaker 2: It's central because I, as I said— I know you.
• 1:39:10
  Speaker 1: Said other-centered earlier, which I thought was a term you
• 1:39:12
  Speaker 1: hear a lot of times.
• 1:39:13
  Speaker 2: Yeah, I guess that's maybe a faith phrase. I don't know,
• 1:39:16
  Speaker 2: but it's— Honestly, it's taught me how to be a
• 1:39:22
  Speaker 2: better human being because I really wasn't a good one.
• 1:39:26
  Speaker 2: You know, I grew up. The crap we did, man,
• 1:39:29
  Speaker 2: and the way I behaved in my early years of
• 1:39:32
  Speaker 2: my life. Were you just a dang anarchist or whatever? Yeah, apparently.
• 1:39:36
  Speaker 2: I did all kinds of just redneck stupid stuff. But
• 1:39:40
  Speaker 2: I needed to be a better person. And it turns out, again,
• 1:39:45
  Speaker 2: better people have better lives. So the whole character shift.
• 1:39:50
  Speaker 2: through the faith walk of meeting Jesus and changing that, um,
• 1:39:53
  Speaker 2: you know, it cleaned up, uh, my, uh, my view
• 1:39:59
  Speaker 2: of things. It cleaned up, uh, my actions and how I,
• 1:40:03
  Speaker 2: how I react and those kinds of things. Cause I mean, again,
• 1:40:07
  Speaker 2: I grew up where it was, uh, you know, a
• 1:40:10
  Speaker 2: Scotch Irish thing. It's like a temper thing going on. So, uh,
• 1:40:14
  Speaker 2: you can't do that. And when out there, you can't
• 1:40:16
  Speaker 2: be a jerk everywhere. And so, uh, They don't want
• 1:40:19
  Speaker 2: you back on the show if you're a butt in
• 1:40:21
  Speaker 2: the green room. And so it turns out that all
• 1:40:25
  Speaker 2: worked out for me. So the re-transformation, be not conformed
• 1:40:32
  Speaker 2: to this world, but be transformed by the renewing of
• 1:40:34
  Speaker 2: your mind, Romans says in the Bible. And so the
• 1:40:37
  Speaker 2: renewing of my mind over 45 years. And I'm not arrived,
• 1:40:43
  Speaker 2: don't misunderstand. But like I said earlier, I'm a lot
• 1:40:45
  Speaker 2: better husband than I was. I mean, even with my grandbabies,
• 1:40:48
  Speaker 2: I'm playing my grandbabies. My kids are like, who are you?
• 1:40:51
  Speaker 2: I'm like, well, I can hand this one back. This
• 1:40:55
  Speaker 2: one smells bad. It's broke. You can take that one home.
• 1:40:57
  Speaker 2: But yeah, who are you? Papa Dave. I mean, come on, man.
• 1:41:01
  Speaker 2: You wouldn't let us get by with that crap. I'm like, yeah,
• 1:41:03
  Speaker 2: I know, but I had to make you behave or whatever.
• 1:41:05
  Speaker 2: You can take this one home. You can teach it.
• 1:41:06
  Speaker 2: But yeah, it's central to everything. I know who I am.
• 1:41:11
  Speaker 2: I know where I'm going. It affects how I deal
• 1:41:15
  Speaker 2: with kids marriage affects my money affects how i lead
• 1:41:19
  Speaker 2: in the business affects our decisions in the marketplace so
• 1:41:22
  Speaker 2: yeah it's i guess it's central to everything if you
• 1:41:25
  Speaker 2: want to look at it that way it's changed my
• 1:41:27
  Speaker 2: life yeah really yeah absolutely completely.
• 1:41:32
  Speaker 1: Wow that's amazing man it's nice to hear um did
• 1:41:37
  Speaker 1: you uh when you look at your future now like
• 1:41:40
  Speaker 1: what are things that you still want to do you've
• 1:41:41
  Speaker 1: had so somewhat success and such the opportunity to uh
• 1:41:44
  Speaker 1: to lead people, to make financial choices. You helped my
• 1:41:48
  Speaker 1: stepdad paid off our house because of.
• 1:41:50
  Speaker 2: Knowledge he learned from you. Wow. I remember that. Very cool.
• 1:41:54
  Speaker 1: And so it took him a little bit, but I
• 1:41:56
  Speaker 1: remember one day he told me he'd heard it, and
• 1:41:59
  Speaker 1: then probably 11 years later, 8 years later, something he said,
• 1:42:03
  Speaker 1: house is paid off.
• 1:42:03
  Speaker 2: Yeah. It's pretty cool. I love it. What are things
• 1:42:06
  Speaker 2: that still excite you? You know, things that move the needle,
• 1:42:10
  Speaker 2: and I get to see something– move with a little
• 1:42:13
  Speaker 2: bit of scale out there where we can affect someone's life.
• 1:42:16
  Speaker 2: And then I run into them. And, you know, this
• 1:42:22
  Speaker 2: YouTube thing with a billion and a half downloads on
• 1:42:25
  Speaker 2: that thing now, it's a whole new market that talk
• 1:42:29
  Speaker 2: radio is old white guys, right? Yeah.
• 1:42:31
  Speaker 3: Right.
• 1:42:32
  Speaker 2: But YouTube's youngsters. And so Sharon and I were in
• 1:42:35
  Speaker 2: Best Buy. and these two kids are like 17 years old,
• 1:42:39
  Speaker 2: run up. Like I'm some kind of freaking rock star
• 1:42:41
  Speaker 2: or something. They're like, man, I love your YouTube stuff.
• 1:42:45
  Speaker 2: It's like, man, I've just paid cash for my first
• 1:42:47
  Speaker 2: car because I'm watching you. There's tough stuff on Tik TOK.
• 1:42:49
  Speaker 2: So funny. And man, thank you. And there was like,
• 1:42:52
  Speaker 2: Sharon's like, golly, they're 17 years old, man. It's great. Yeah.
• 1:42:56
  Speaker 2: That kind of, that kind of stuff is worth, that
• 1:42:58
  Speaker 2: makes it worth coming down here every day and, and,
• 1:43:01
  Speaker 2: you know, flipping on the switch on the microphone, coming
• 1:43:02
  Speaker 2: up with something, figuring out a way to connect. And, uh,
• 1:43:06
  Speaker 2: and be authentic. You gotta be real about it. You
• 1:43:08
  Speaker 2: can't just, you can't manipulate these platforms. They're too, they're
• 1:43:11
  Speaker 2: too nuanced and there there's, um, people can see a
• 1:43:15
  Speaker 2: fake a mile away.
• 1:43:16
  Speaker 3: Yeah.
• 1:43:17
  Speaker 2: Yeah.
• 1:43:18
  Speaker 1: I think it's true. I think, well, it's interesting.
• 1:43:20
  Speaker 2: Yeah.
• 1:43:20
  Speaker 1: I think especially now there's so much stuff out there.
• 1:43:22
  Speaker 1: It's like, um, yeah, you want to try and be
• 1:43:25
  Speaker 1: as authentic you can is to your own experience, you know,
• 1:43:28
  Speaker 1: and you've had a lot of great experiences. And so
• 1:43:29
  Speaker 1: you want to be able to share those, you know, um,
• 1:43:31
  Speaker 1: in a way that feels comfortable to people. And, um,
• 1:43:35
  Speaker 1: And obviously you guys have been doing that and doing
• 1:43:36
  Speaker 1: it really well.
• 1:43:38
  Speaker 2: Yeah.
• 1:43:38
  Speaker 1: What do you say to somebody like right now? Like,
• 1:43:39
  Speaker 1: what is some of your just basic advice? If there's
• 1:43:41
  Speaker 1: somebody who's, you know, they feel like maybe they don't
• 1:43:46
  Speaker 1: have a chance or something, what would you give just a,
• 1:43:48
  Speaker 1: what's your kind of pep talk, your financial guidance for
• 1:43:51
  Speaker 1: somebody like that? Somebody who's just like, you know, they
• 1:43:56
  Speaker 1: don't know if they can figure it out. They don't
• 1:43:58
  Speaker 1: know if they have a ton of hope for themselves.
• 1:44:01
  Speaker 1: You can't change everything about them, but what are some
• 1:44:02
  Speaker 1: things you remind them of? Yeah.
• 1:44:04
  Speaker 2: Dr. John Deloney, that's one of our Ramsey personalities on
• 1:44:07
  Speaker 2: our team, has done a lot of trauma studies. He's
• 1:44:10
  Speaker 2: got a PhD in counseling. And he says when you're
• 1:44:13
  Speaker 2: in the middle of trauma, like he's been on police
• 1:44:16
  Speaker 2: calls when they go in and there's a murder or
• 1:44:20
  Speaker 2: a suicide or something in the home, extreme trauma, and
• 1:44:24
  Speaker 2: your body physically reacts to trauma. And he says the
• 1:44:30
  Speaker 2: way to walk through those things is facts are your friends.
• 1:44:34
  Speaker 2: your feelings are not true. And so when you feel
• 1:44:38
  Speaker 2: stuck and hopeless, you got to back out and start
• 1:44:43
  Speaker 2: looking about, okay, here's what's really, here's the numbers and
• 1:44:47
  Speaker 2: here's the reality of the marketplace. Facts are your friends.
• 1:44:52
  Speaker 2: And so oftentimes when someone calls on the Ramsey show,
• 1:44:55
  Speaker 2: that's all we're doing. They call up and they're overwhelmed.
• 1:44:58
  Speaker 2: They're frozen. They're paralyzed. They don't know what to do.
• 1:45:01
  Speaker 2: And we're going, no, wait a minute. How much you
• 1:45:02
  Speaker 2: make a year? We'll make a hundred thousand. Okay. And so,
• 1:45:05
  Speaker 2: And we're stuck. We can't move. We can't figure out
• 1:45:08
  Speaker 2: what to do. I'm like, okay, how much do you
• 1:45:09
  Speaker 2: owe on your car? $ 56, 000. Okay. All right. And how
• 1:45:12
  Speaker 2: much do you have in retirement? Nothing. Okay. How old
• 1:45:15
  Speaker 2: are you? I'm 26. Okay. All right. Okay. So the
• 1:45:20
  Speaker 2: facts are that you really have plenty of money coming in,
• 1:45:24
  Speaker 2: and you bought a car you can't afford. Sell a
• 1:45:26
  Speaker 2: stupid car.
• 1:45:27
  Speaker 1: Yeah.
• 1:45:30
  Speaker 2: You're like a genius. It's like sixth grade math. You know,
• 1:45:35
  Speaker 2: it's like, so, but all we did was peel back
• 1:45:38
  Speaker 2: the drama that all of us, our bodies just freeze up.
• 1:45:42
  Speaker 2: We just get in freak hopelessness.
• 1:45:44
  Speaker 1: Yeah, freezing is a response to trauma and freezing up.
• 1:45:46
  Speaker 1: We're stuck and we don't know what to do and
• 1:45:50
  Speaker 1: all we do is cut the dadgum trees down so
• 1:45:52
  Speaker 1: you can see the forest, you know, and can't see
• 1:45:54
  Speaker 1: the forest for the trees and so, you know, okay,
• 1:45:57
  Speaker 1: here's your reality and it's like, You know, a lady
• 1:46:00
  Speaker 1: called not long ago, and she said, they're foreclosing on
• 1:46:04
  Speaker 1: my house Friday.
• 1:46:05
  Speaker 2: What am I going to do? I said, I don't know.
• 1:46:08
  Speaker 2: It was Monday. We have five days. What are we
• 1:46:10
  Speaker 2: going to do? I don't know. I said, one thing
• 1:46:14
  Speaker 2: you can do is just go get another house. She went,
• 1:46:19
  Speaker 2: you can do that? I went, yeah, just go get
• 1:46:20
  Speaker 2: something to rent. People will rent to you? Yeah, people
• 1:46:23
  Speaker 2: will rent to you. So you're not going to be homeless.
• 1:46:26
  Speaker 2: She made $ 120, 000 a year. I said, Michael, what? We'll
• 1:46:30
  Speaker 2: just go get you another house. But let's learn about
• 1:46:32
  Speaker 2: the details of the foreclosure and see if we can
• 1:46:33
  Speaker 2: stop it. We were able to actually figure out how
• 1:46:35
  Speaker 2: to stop the foreclosure. But, you know, the reality was
• 1:46:38
  Speaker 2: her whole life was coming to an end on Friday.
• 1:46:41
  Speaker 2: And it's a house. There's one on every corner. Let's
• 1:46:44
  Speaker 2: go get another one. Yeah. You know, it's like, but
• 1:46:47
  Speaker 2: we get just, you know, we get just hammered. We
• 1:46:51
  Speaker 2: had another one that was really sad. A lady was
• 1:46:53
  Speaker 2: being foreclosed on a different one. And her husband, 36
• 1:46:56
  Speaker 2: years old, was a roofer. He fell through the roof
• 1:46:58
  Speaker 2: and got killed. And she's got two little kids and
• 1:47:01
  Speaker 2: the workers comp didn't pay out. They waited like forever.
• 1:47:04
  Speaker 2: So the house got behind and she's getting ready to
• 1:47:07
  Speaker 2: be foreclosed on. And we're like, uh, she owed 60,000
• 1:47:10
  Speaker 2: bucks on a $ 300, 000 house. I'm like, no, you are
• 1:47:13
  Speaker 2: not getting foreclosed on. We are stopping this. This is
• 1:47:15
  Speaker 2: not happening. You're a widow. We're going to, somebody's going
• 1:47:17
  Speaker 2: to take care of you. And another roofing guy called
• 1:47:20
  Speaker 2: our office as while we're on the air and caught
• 1:47:22
  Speaker 2: the house up. So, I mean, we're going to take
• 1:47:25
  Speaker 2: care of other people stepped in and heard the story,
• 1:47:27
  Speaker 2: started taking care of us. You're not getting foreclosed on.
• 1:47:29
  Speaker 2: I'm a, 100% sure it's not going to happen. We're
• 1:47:32
  Speaker 2: not losing this house, $ 300, 000 house for 60 K. So,
• 1:47:35
  Speaker 2: but she was, Oh, completely overwhelmed. Other people had taken
• 1:47:38
  Speaker 2: her power. The situation, the variables had taken her power.
• 1:47:42
  Speaker 2: She could not see she was frozen up. And all
• 1:47:45
  Speaker 2: we did was we weren't there. And so we weren't
• 1:47:48
  Speaker 2: frozen up and we could see what everybody, everybody listening,
• 1:47:51
  Speaker 2: everybody watching could see the same thing. Of course, we're
• 1:47:53
  Speaker 2: not going to let that house get sold. Nothing else.
• 1:47:55
  Speaker 2: You sell it for 200,000 before Friday. You know, you're
• 1:47:58
  Speaker 2: not going to give it away for 60. So we're
• 1:48:00
  Speaker 2: going to do something.
• 1:48:02
  Speaker 3: Yeah.
• 1:48:02
  Speaker 2: The fear.
• 1:48:02
  Speaker 1: People get stuck.
• 1:48:03
  Speaker 2: Yeah.
• 1:48:04
  Speaker 1: Yeah.
• 1:48:04
  Speaker 2: And that's all we do. Is unlock them. Yep. Help
• 1:48:07
  Speaker 2: unlock them.
• 1:48:08
  Speaker 1: Yep.
• 1:48:08
  Speaker 2: With facts. With facts.
• 1:48:11
  Speaker 1: To somebody that's starting out right now, they're just starting
• 1:48:13
  Speaker 1: out in the world. They got their first couple of jobs.
• 1:48:15
  Speaker 2: They just got out of college.
• 1:48:16
  Speaker 1: How much money do they need to save if they
• 1:48:18
  Speaker 1: want to have some freedom in the future?
• 1:48:20
  Speaker 2: What do you tell them, Dave? Well, the first thing
• 1:48:22
  Speaker 2: we tell them is get out of debt, everything but
• 1:48:24
  Speaker 2: the house, and then have an emergency fund of three
• 1:48:27
  Speaker 2: to six months of expenses. We call it the baby steps.
• 1:48:30
  Speaker 2: There they are. And so once you're at baby step
• 1:48:33
  Speaker 2: three and you have three to six months of expenses,
• 1:48:35
  Speaker 2: you don't have any payments but a house payment.
• 1:48:37
  Speaker 1: So you save three to six months. You have savings
• 1:48:38
  Speaker 1: to pay off for three to six months in case
• 1:48:40
  Speaker 1: something happens.
• 1:48:41
  Speaker 2: Exactly. It's a rainy day fund. I want a bass boat.
• 1:48:44
  Speaker 2: It's a rainy day fund. It's not I need a
• 1:48:46
  Speaker 2: new couch. It's a rainy day fund. You don't touch that.
• 1:48:49
  Speaker 2: If you're going to buy something else, you save up
• 1:48:51
  Speaker 2: and pay for it. But to answer your question, baby,
• 1:48:53
  Speaker 2: step four is invest 15% of your income. When you
• 1:48:56
  Speaker 2: don't have any payments except a house payment, you can
• 1:48:59
  Speaker 2: save 15% of your income. And the average household income
• 1:49:02
  Speaker 2: in America right now is $ 72, 000 a year. If you
• 1:49:05
  Speaker 2: say 15% of $ 72, 000 from 30 to 65, you're going
• 1:49:08
  Speaker 2: to have about $ 5 million in mutual funds. Say that again?
• 1:49:13
  Speaker 2: So if I'm like 5X wrong, you're still a millionaire.
• 1:49:15
  Speaker 2: Shut up. So you really can't screw this up. But
• 1:49:20
  Speaker 2: you can screw it up because you live in America
• 1:49:22
  Speaker 2: and you can get a $ 1, 200 car payment for a
• 1:49:24
  Speaker 2: freaking car you can't afford to impress people to stoplight
• 1:49:26
  Speaker 2: who don't even care about you. And that's what we
• 1:49:29
  Speaker 2: do instead. or I need another truck, you know, or
• 1:49:33
  Speaker 2: I need another whatever. I mean, I'm the same guy.
• 1:49:36
  Speaker 2: But yeah, so then we say for kids college, six
• 1:49:38
  Speaker 2: is what your stepdad did. We pay off the house
• 1:49:40
  Speaker 2: early in 11 years. By the way, oddly enough, 11
• 1:49:42
  Speaker 2: years is the average millionaire that paid off their houses
• 1:49:45
  Speaker 2: in 11 years, 11.2 years in the study that we
• 1:49:48
  Speaker 2: were talking about earlier.
• 1:49:49
  Speaker 1: So that's one of the things that people did to
• 1:49:51
  Speaker 1: become millionaires.
• 1:49:52
  Speaker 2: They walked right, we call them baby steps millionaires. They
• 1:49:54
  Speaker 2: walked right up this, they get their house paid off
• 1:49:56
  Speaker 2: in an average of 11 years, some of them 7 years,
• 1:49:59
  Speaker 2: some of them 14, but an average of 11.
• 1:50:01
  Speaker 1: Wow.
• 1:50:02
  Speaker 2: And then when you don't have a house payment, dude,
• 1:50:04
  Speaker 2: I mean, that's $ 2, 000, $ 3, 000 a month. Oh, yeah, dude.
• 1:50:08
  Speaker 2: You got bank to be generous with, bank to be investing. Yeah,
• 1:50:11
  Speaker 2: you can take a bath.
• 1:50:12
  Speaker 1: You can stack in cash. You can relax at your
• 1:50:14
  Speaker 1: house and get in the bathtub.
• 1:50:15
  Speaker 2: Stack in cash. That's it. That's it.
• 1:50:16
  Speaker 1: God, man, that's what I want. I'll buy a dang
• 1:50:20
  Speaker 1: bird bath and sit in that thing. If I'm debt-free,
• 1:50:23
  Speaker 1: I'll sit in the front yard in there and dang
• 1:50:26
  Speaker 1: use some dang.
• 1:50:28
  Speaker 2: Just soap up.
• 1:50:30
  Speaker 1: Dave Ramsey, anything else that you want to share with
• 1:50:31
  Speaker 1: her that you think? We've covered a lot of neat stuff,
• 1:50:33
  Speaker 1: I think. I feel like we've been through a lot
• 1:50:35
  Speaker 1: of avenues.
• 1:50:36
  Speaker 2: It was an honor to be with you. Yeah, you too, man.
• 1:50:38
  Speaker 2: I'm impressed with what you're doing. It's so good. Well, thanks, man.
• 1:50:40
  Speaker 2: You're watching your career and watching you clean up and
• 1:50:44
  Speaker 2: get right and doing stuff. I watched your content shift.
• 1:50:47
  Speaker 2: You're doing great. I'm proud to know you. Thanks, man.
• 1:50:52
  Speaker 1: Yeah, it's so crazy that I remember my stepdad said
• 1:50:55
  Speaker 1: that and then like two years ago, I would be like, man,
• 1:50:57
  Speaker 1: wouldn't it be crazy if we got to have Dave
• 1:50:59
  Speaker 1: Ramsey on, you know? And then here we get to.
• 1:51:02
  Speaker 1: And then you could tell him you were underwhelmed.
• 1:51:06
  Speaker 2: But we didn't lose hope, man. Anyway, that's true.
• 1:51:08
  Speaker 1: We didn't lose hope.
• 1:51:09
  Speaker 2: That's true.
• 1:51:09
  Speaker 1: And so, yeah, thank you so much. Thanks for the guidance.
• 1:51:12
  Speaker 1: You guys can check out the Ramsey show. And then
• 1:51:16
  Speaker 1: there's just so many YouTube clips. Like if you want,
• 1:51:18
  Speaker 1: I mean, there's probably a clip for almost everything these days,
• 1:51:21
  Speaker 1: you know, for everything you want to find out about finances,
• 1:51:23
  Speaker 1: how to take care of yourself, how to move forward.
• 1:51:25
  Speaker 1: They can call into the show daily?
• 1:51:28
  Speaker 2: No.
• 1:51:28
  Speaker 1: Every day. You can call into his show every day
• 1:51:31
  Speaker 1: if you have a question. And there's some great videos
• 1:51:36
  Speaker 1: of some of the best questions that they've had online
• 1:51:38
  Speaker 1: as well. Dave Ramsey, thanks so much, man.
• 1:51:40
  Speaker 2: Thank you, bro.
• 1:51:41
  Speaker 1: Yeah, appreciate it. And best of luck, and I hope
• 1:51:44
  Speaker 1: to see you around town sometime.
• 1:51:45
  Speaker 2: Well, hang.
• 1:51:46
  Speaker 1: Now I'm just floating on the breeze And I feel
• 1:51:50
  Speaker 1: I'm falling like these leaves I must be cornerstone oh
• 1:51:58
  Speaker 1: but when i reach that ground i'll share this piece
• 1:52:01
  Speaker 1: of mind i found i can feel it in my
• 1:52:05
  Speaker 1: bones