Latest / The Jon Sanchez Show / The Millionaire Playbook: 10 Financial Decisions That Build Lasting Wealth
Transcript
- Jon G. Sanchez: Well, good Friday afternoon to you. Welcome to the John Sanchez Show on News Talk 780KOH. We did it. We made it through another week. Not all that bad of a week, other than the grind of having to be back for five days when we were so spoiled from last week, right? But as far as the market, hey, it wasn't all that bad. Eked out some modest gains on two out of the three major averages, which I'll tell you about in a moment. Hope you had a great Friday and ⁓ gonna have an even better weekend. Let me tell you what I have lined up for you today. know, I'll honest with you, as ⁓ The headlines subside in regards to the oil situation. I mean, we had our fair share of them this week, by all means. market has kind of ⁓ the summer doldrums, it feels like. Just not a lot of activity, not a lot of news stories. I always try to bring you the week on Wall Street on Fridays. But I started to prepare for that this morning. And I'm like, you know, this is kind of light. Really, not enough to talk about for an entire hour. So I sat back and I said, you know, what can I do? Do to motivate you on a Friday, right? all tired of coming on Friday. It's been a long week. It's hot outside. Let's give you a little motivation. So I came up with an idea and I hope you like it. I'd love to get your feedback. You can send me an email at john at SanchezGaunt.com. And what this idea is. I'm creating a Friday series that I'm going to be doing for a number of weeks. And I call it the John Sanchez Playbook. And what I'm gonna be doing is every Friday, after I give you my stock market recap, I'm gonna share with you playbooks that I've put together for different areas of your life. We'll do a playbook on estate planning, we'll do a playbook on, I don't know, the fundamentals of the stock market, so on and so forth, right? A whole slew. I've got about 10 different topics that I created this morning. But today I want to give you one that I think is a lot of fun. But I'll be honest with you, I thought, man, I hope some of you don't laugh because Jack Sabin: Thank Jon G. Sanchez: There's a lot of you that are millionaires. the playbook I'm going to discuss today is the Millionaire Playbook. 10 Financial Decisions That Could Build Lasting Wealth for You and Yam. And so, you know, I get this question a lot. John, what does it take to become a millionaire? Well, know, when I started doing this 30 years ago, being a millionaire was, oof, man, you were somebody. Nowadays, ⁓ I to say this, it's really not that big of a deal. Kind of like the old adage where you go, yeah, I need a million dollars to retire. Well, you, you know, if you want to live on about 50,000, 60,000 bucks a year, cool, you need a million bucks. If you want to live on more than that, you need a couple million or more than that. So the millionaire status isn't quite what it was, but it is still a great financial achievement when you can say, my net worth is a million plus. And if you're in that camp, today's show is really for you. If you're already there, well, hopefully I can give you a few tips to maintain that millionaire plus status. Because I promise you it's going to be very enlightening. again, this is going to be a brand new series, the John Sanchez Playbook. So 10 financial decisions. That consistently help people build wealth over time. Not picking a hot stock and, know, throwing everything in there. I'm talking long-term sustainable wealth building strategies that can help you get to that millionaire status. If not more. ⁓ want you to have more than that. So it's gonna be a really fun topic. And again, ⁓ light for a Friday, something to kind of take you into the weekend, give you a little bit of motivation if you're not a millionaire. You can think about these. I you if if ⁓ If if you want a copy of this, I'm gonna try putting these almost into like an ebook format. I haven't been able to quite finish that because I again I just came up with this idea today. but if you ⁓ you're interested, you know, again, you're driving or you're at work or wherever you may be right now, probably can't write all this down. You can always catch it on YouTube, you can always catch it on Spotify. but just send me an email again, John at SanchezGaunt G-A-U-N T dot com, and ⁓ send you the playbook. I'll be more than happy to share that with you. And ⁓ I'll trying to get those ⁓ done ahead of time now that I like I said kind of created this new series. a ⁓ before I also before I get to the stock market side, I had a had a great week on the new estate planning business, specialized trusts ⁓ in estate plans. really some people. I had the privilege and it is a privilege to work with them in depth this week. And, you know, I've I've shared the I shared this with one of the clients and and I'll share it with all of you. I tell you folks, you know, again, I've been doing this 35 plus years, and I have never more appreciation from clients than I am seeing when we have finished their estate plan. Whether it's a restatement, meaning they have an existing trust and they need to get it up to date, or a brand new one. But every single client that we have Been blessed to to either create a new trust, a state plan, or restate it. Every single one of them are so absolutely grateful. and you know, I don't know who's more grateful, we are or or they are. But it is amazing to see the relief in people's eyes, because do it all over video, to see the relief people's eyes when it's all said and done. And One couple really stands out this week. They they had three trusts between the two of them. And it was a lot of work for them. I I put them through the ringer, I will tell you. There was a lot of work that we did. It actually took us a couple couple sessions, ⁓ because again, our our claim to fame is we can create an entire estate plan for you in less than two hours from the comfort of your home. Well, it took about six hours, so still right in our in our goal range of two hours per estate plan. but it was a lot. Was a lot. They had a lot of moving parts to it, and and like I said, three trusts between two people. but it was it was incredible when it was all said and done. It really was. So I want to thank all of those, and I invite all of you, you know, again, visit our website. I I am not here to sell you anything, I am here to help you, right? My team and I recreated specialized trust to help you, right? To to to do things differently, to get those of you that have contemplated, just got a call from a dear friend today. He's like And I promise you, I'm gonna get the the the the forms over to you. It's like okay, okay, you know, just get them over here. Don't wait, folks. Don't contemplate. Life can happen at any time, anytime. And if you feel you are unsure whether you need a revocable trust and all the documents that go along with it, s just again, I've offered this to all of you. Set up a discovery meeting with me. I don't charge you anything, just like on the brokerage side, Jason and I don't charge you anything. We're not one of these firms where we go, hey, you know what, you're gonna pay us $500 for 30 minutes of our time. No, this is this is our time to give back to you. so we have the same philosophy on the estate planning side. Send me an email, get sent it over on the estate planning side, john at specialized trust.com, and that's J-O-N, John at specialized trust.com, ⁓ just say, you know what? I just need to book a 30-minute discovery meeting, and I will do that with you. We'll have a one-on-one video conference. you know, again, you all know I work nearly seven a week. so ⁓ if the weekends are the best time, hey, you know what? I'll do it. I don't care. I want to help each and every one of you. If you have the existing estate plan, like I mentioned, that we did a lot of this week, restating those. thing. Let's talk about it. We we have incredible software for those of you that have the existing trust. We have incredible software that we are able to take your entire estate plan, scan into four large language AI models, and the models will go through your existing trust. line by line, word for word, and then create a summary. And that's what we share with the client before we do anything. It's a we don't charge for that either. like, here's what's going on with your existing trust. Maybe everything's great. I've yet to see that because usually they're old and you know life has changed and successor have changed and so on and so forth. But it'll point it out. And then you can make a decision what you want to do. So for those of you that don't have anything, please reach out to me. Take a look and see what we can do. Visit our website at specializetrust.com. We have all of our packages on there. Again, our estate plans are minuscule, $3,649. That's it. We do the filing, meaning recording of your home into the of the trust. We've do we file the homestead exemption. We do everything. That's the all-inclusive price. For those of you with more sophisticated estate plans, I'll be the to tell you ⁓ if I think we cannot do it. And we have a nationwide network of attorneys that that's what we have them for, for the more again, sophisticated estate plans. So we can handle anything, anything whatsoever, but it all starts with a discussion. And you know I care about each and every one of you, and you know my story of why I created specialized trust, and want to help each and every one of you. My team wants to help each and every one of you. And like I said, it's Friday, it's been a long week, been on the tired side, but also ⁓ you I'm sure all of you can relate to this. Very fulfilled. You know, when you when you can come into a Friday and you go, you know what, that was a good week. It was a hard week. It was ⁓ a lot of hours, ⁓ you know, a lot of hours this week. I think I put in 70 hours so far this week. but it was well worth it because it was a blessing to work with all of these great people. And again, see the the the the satisfaction and and and to hear it in their voice when it was all said and done. you couldn't pay me enough for that. It was it was absolutely amazing. And I hope to be able to do the same thing for all of you. So again, just to get the process started, whether you say, I don't know if I need one or not, great. Book the discovery meeting. If you have an existing trust and you're not sure, if you know, is it up to date? Is it keep up with all the latest laws and everything? Great. Book a discovery meeting. Again, there is no charge whatsoever. you guys know me, and I'll give you my honest opinion. And so so like I said, we've yet to have anybody that ⁓ when they had the existing trust that didn't need some type of modification there. ⁓ And I want to remember or remind you one more time for those of you that have young adults in your life, whether they're children or grandchildren, I'm talking, you know, 18 to whatever, 25, maybe 30. They're just getting their lives in order. They probably don't need a full living trust, a full estate plan, right? They don't have enough assets to really worry about at that point. But what they do need, they need an advanced directive, which is the financial powers of attorney. They need the medical directive, they need a simple will. They need emergency contacts, then they need all that. And especially for those of you that have the kids that are younger, 18, 19, 20, remember mom and dad, remember grandma and grandpa. You can't do anything for those kids if they become incapacitated. Remember, emphasiz estate planning is not about death. It's really being able to make decisions and take care of your family. And in this case, take care of your parents. You know, again, if something happens to you. So we we put together, we call the young adult package. It's one of our eight packages. We have our first responders package that my son oversees. but that that young adult package, 425 bucks. And you'll get again the the the will, the medical directives, the financial power of attorney or the ⁓ financial power of attorney, everything I just mentioned. The peace of mind that it provides. And and again, it's a great birthday present, great Christmas present. If you they don't wanna if they don't have the money to do it. Pay for it for ⁓ One of the best investments, in my opinion, you can ever make. right, we come back, gonna give you the brief market recap, then we're gonna get into our topic, the millionaire playbook. Ten financial decisions that build lasting wealth. Let's turn it over to Kristen Snow. She's in the right now traffic center. Happy Friday, Kristen. What's very good. Yeah. Okay, just let's have a call. I know. I know. Well yeah yeah, exactly. But you just just booked that appointment with me, Jimmy, you know I'll take care of ya. Absolutely. You my office ⁓ at nine one six zero Double Parkway, right across from the D ⁓ V. And then but I'm never there. I work for my ranch in Smith Valley. no, no, no. No, it's it's it the whole the the way I designed the whole thing, Jim, it's it's all virtual. We we do it all over over a a Zoom meeting. Yep. Absolutely. From the comfort of your home. Yep. Two hours. That's all it takes. Two hours. Absolutely. And don't worry about the cost. I'll take care of you. Yeah. You and I go way back w too w we we go back way too far to ⁓ make money off of each other. So know, I love ya and appreciate ya, so whatever I can do to help you, man. You and me both, brother. Yep. know. Yeah, I know. That's what Ross has been telling me. No. I I between you and I, I I I keep saying that it's it's just matter of time. You g they're gonna you know, management's gonna walk one day and say, Yeah, corporate has said we're going on, you know, automated programming. I really do. Well That's right. That's why I did it. That's exactly why I did it. Yeah, right. Right. Yeah, exactly. Well, you know, I it it's who's gonna be left, right? I mean, Ross is talking about retiring in what, a year or something like that and you know, it's just I No, no. Mm-hmm. Mm-hmm. They're all gone. Yeah. Do you know besides Ross, I've been there longer than anybody else? You realize that? Yep. Started two two thousand four. Welcome back to the John Sanchez show on New Stock 780K Witch. Happy Friday to all of you. All right, let's get down to the market. And then ⁓ like I said, it's gonna be real brief. There was not a lot of activity going on today, and then get into our topic, the millionaire playbook. And I I ⁓ I looked at my notes, by the way. I could I couldn't remember all of them. The every Friday, again, I'm gonna start this new series, the John Sanchez playbook. And again, today's gonna be the Millionaire Playbook. the other ones I'm gonna do, I'm gonna do the retirement playbook, the home buyers playbook, the estate planning playbook, small business playbook. Jack Sabin: Welcome back. Jon G. Sanchez: financial independence playbook. So those are just the ones. If there's something else that you know you guys want, send me an email. Let me know. This is your show. It's not mine. And ⁓ be more than happy to do it. But it's I think it's gonna be fun. It's gonna have a lot to ⁓ to really look forward to doing this with you each and every Friday after the market recap. right, let's get down to the market. Like I said, not a lot of activity today. ⁓ the the did reiterate this morning that the ceasefire is over. he said yesterday, remember that Iran said they want to do you know continuation of the talks. I saw one today and I I it wasn't from a national source or national news source. I'm gonna say it, but take it with a grain of salt that Iran called Trump and said the firing of those three ships week was a mistake. and that some some fashions or factions did it. It really wasn't Iran. So on and so forth. So again, take it for what it's worth. Axios reported late today that the US and Iran are supposed to meet in Switzerland sometime next week to continue discussion. So we see. We will see. But again, market doesn't care. Market knows it's you know something's gonna end one way or other, and it's more focused on the earnings than on the oil side at this point. So here's how we 150 gain on the Dow, 0.29%, closed at 52,637. Nasdaq gained 74 points, 0.29 close there of twenty six two eighty one and the SP higher by thirty two points point four two percent to finish the day at seven thousand five seventy five. For week, ⁓ we're up just a smidgen above one percent for the Dow and the I'm sorry for the Nasdaq and the S P up about a half percent or so for the ⁓ for the Dow. So ⁓ not a s huge but hey, we'll take it. It all adds up, right? It's kind of like what you're gonna learn on the millionaire status. Just a little bit every day. That's all you got to do. On the commodity side, speaking of oil, 69 cent loss, closed at 71.41 a barrel. What a week it has been, right? gold down $27.20, $4,114.40 an ounce. Three basis point increase on the 10-year treasury. Yield there, $457. for the week, though, up eight basis points. So like I said, other than that, no ⁓ no real huge movers today. ⁓ Meta was a star, gain up $37.73. It was actually the best performing stock in the SP 500 company. ⁓ again, remember yesterday, as I mentioned, company's AI strategy basically announced they're gonna start making some of their own products, chips, and so on and so forth. ⁓ So that momentum from yesterday continued on to today. ⁓ We did a new hot IPO. It's a company called Sky Henix Incorporated. is the symbol. They're a South Korean chip manufacturer, and they debuted instant one. trillion dollar market cap. Amazing. Stock finished the day up ⁓ $19.31, 12.96% gain, $168.31. Their CEO said, like we're hearing from a lot of CEOs, demand is strong. You know, got years of of orders waiting for us to fill, so on and so forth. let's see, Moderna, a little pressure today, down 10.83%. There's a name from the ⁓ COVID era, $8.29 pullback to $68.27. Worst performing stock in the SP 500. Delta Man, I tell you what, I I don't know if you guys saw this. I gotta be honest with you. My Mexican blood boiled. the CEO was on CNBC today. And started, first of all, before he appeared, the company released their earnings numbers. better than expected, quarterly results results. They reaffirmed their their full year outlook. But they basically, I don't have his exact quote, but basically the CEO was my was he was almost bragging that they're not gonna be, and I'm they're not gonna be lowering their airfare prices, even though fuel jet fuel prices have come down dramatically. So in other words, he's smiling that he's gouging those of you that use Delta Airlines. He's smiling all the way to the bank at your expense. And it just, like I said, it just set me off wrong. I'm like, you know, airlines, they're the way I look at them, they're they're like a necessary evil, right? We all have our good stories, all of our bad stories. But you what gets me is I I tell you how many times I have sat behind this microphone over the last 35 years when this industry cries for government bailouts, right? Poor us, poor us. This is the reason we need government help. Government steps in. lends them billions and billions of dollars. poor companies. They file bankruptcy. Then they're back in business a few months later, so on and so forth. But then, you know, their go up because of course, Iranian war, now that prices are back down again, you know, 71 bucks a barrel, at least on the oil, I don't know what jet fuel's doing. I'm sure it has come down dramatically. They don't adjust the prices. You know, this where I wish the president would step in and go, you know what? Because he we know he's very anti ⁓ ⁓ price fixing, right? Why isn't he doing this on the on the airline side of things? Why hasn't he warned these companies saying, look, it, we've bailed you out, you know, well before his term, we've bailed you out. Taxpayer dollars have bailed you out. Okay, we let you raise your price. Well, we didn't let you, but you raised your prices when oil was up. Now drop your prices now that oil is down. But he doesn't say anything about it. And that that gets me. I i it's just again, I hate to cry wolf, but it's like it's unfair. It really is. So, you know, I don't travel. I I do everything I can not to travel. You all know that. I hate traveling. but but I know a lot of you do, and it's vacation season, et cetera, and you're paying these exorbitant prices and this guy's laughing all the way. The bank said, Yeah, we're not our guidance is great because we're not dropping our our our airfare because even though fuel prices dropped. So anyways, I had to that off my chest. But Delta today down to dollar fifty, eighty seven fifty was the closing level about one point seven two or one point seven percent decline there. All right, you're up to date on the market. Like I said, it wasn't a lot of activity. Now let's have some fun. Let's talk about the millionaire playbook. How can I help you become a millionaire? I'm gonna do that when we come back. First, let's turn it over to Mr. Jim Poston. He's got news traffic and weather. Hi, Jim. Jack Sabin: Thank Jon G. Sanchez: Welcome back the John Sanchez show on News Talk 780 KOH. Happy Friday to all of you. ⁓ my goodness, TGIF finally. 150 gain on the Dow today, up 74, excuse me, 75 on the NASDAQ, and a 32-point rise on the SP 500 oil down about 69 cents to 7141 a barrel. All there's that. Let's get down to something really fun for a Friday. You say you want to become a millionaire, but you have no idea how to start. ⁓ Well, once again, as I said at the beginning of the show today, I'm starting a new series called the John Sanchez Playbook. This first playbook we're talking about is today, which is very simple how to become a millionaire. Okay. I've laid out 10 10 financial decisions, as I'm calling them, that if done consistently, should help you build significant wealth over time. It's not rocket science. It really isn't. Every millionaire that I know. says one thing. I don't know how I got here. of it was skill, a lot of it was luck. let's see what else do I hear? you know, thank you to God to for getting me here. you know, so on and so forth. But it's not like a lot of these people had these like a playbook like I'm gonna lay out. So imagine if they did how much sooner they would have ⁓ achieved it, right? let's get started. This whole idea that I I I came up with this really came from the following. I get asked all the time, John, what is the secret to becoming financially successful? Well, again, as I tell them, after 35 years of doing this, families build, helping families protect, helping families transfer wealth, I've learned there is not ⁓ specific secret. Because it's a dozens and dozens of small decisions that add up over time. And produce, in many cases, extraordinary results. Because you gotta remember, folks, we live in the greatest country in the world. You can go out and make as much money as you want or as little as you want. No one is stopping you, like in a communist country. We have this great engine called the stock market, where you literally could just buy some quality investments, sit back and don't look at them for the next 20 years, and they're probably gonna be substantially higher than where you started. Right? Time is on your side if you start early. But again, most millionaires don't become wealthy because they made one brilliant investment decision. Now we all know the stories of, you know, someone working for a company that has a hot IPO, like, you know, most recent, like the SpaceX employees, Tesla employees, you know, I mean, the list goes on and on. Or you have a business and know, here comes a buyer out of the blue and they've offer you some stupid sum of money, right? There's those instances there. Or of course, we're in the middle of a the great wealth transfer. Remember in the next twenty-two years, one hundred and twenty-four dollars. One hundred and twenty-four trillion dollars is gonna be transferring from my generation, the baby boomers, down to the next generation. Significant. So there's gonna be a lot of young people that are gonna become millionaires when mom and dad kick the bucket. So that's why estate planning is really important for them. But those that are wealthy, they become wealthy because they repeatedly, repeatedly, repeatedly make good financial decisions. All right, let's go to playbook number one. live below their means, right? They spend less than they earn. ⁓ monitor their spending. They know where every penny is coming in, where every penny is going out. They don't give a damn about what the Joneses are doing. They focus on their own goals. They would rather have money in the bank than drive some fancy car or live in some fancy house. They avoid lifestyle inflation. They save first. Because wealth is not determined by what you make. Wealth is determined by what you keep. And we'll get into obviously the tax side, et cetera, in just a moment. All right. Pretty basic that one. Let's get a little more advanced. Playbook number two. play them ⁓ me, they pay themselves first. Right? It's not, geez, I've got ten bucks left over. I a hundred bucks left over at the end of the month after all the bills are paid. No. They say, I am paying myself before I pay anybody else, before the mortgage, before the car payment, anybody else, I am paying myself first. And they do it on a regular basis through things like their 401k, payroll deduction, of course, their IRAs, their brokerage accounts, emergency funds. They believe in automation, right? That's the key also. your investments up on automation, right? 401ks are really simple. You tell your employer how much you want to put in, you sign a few forms. Boom, here goes the money. You don't even think about it. That's why people accumulate. Think about it. That's why people accumulate so much wealth in their 401k. Why it's either their largest or usually second largest asset in to their home. Because it was all on autopilot. So why don't you become or ⁓ the rest of your financial life on autopilot? Set up the automatic deduction going out of your checking account to your brokerage account. Set up the automatic deduction going into your emergency funds and into your IRA. Right? Nothing is more painful than. Then when I have to tell a client, you know, coming towards the, you know, close to April 15th, and I'm like, ⁓ well, how much money can I put in my my my IRA and tell them the number? And they got to write a check for that. They just got done writing a check to the IRS for their tax liability. Wouldn't have been easier if they just set it up on a monthly basis. Automate your finances. That's what millionaires do. And they pay themselves first. Playbook number three. They own appreciating assets. ⁓ no kidding. No, I'm serious. This is a very serious topic. Because a lot of times people will buy assets, they're not appreciating assets. You go buy a travel trailer. Hey, you know, there's value in that, right? Family time, time to get away, recharge your batteries. I'm not, you know, by no means am I criticizing that. Same thing with a bows. I mean, let your imagination wonder. A car, right? We got to have those. Those are assets, but they are not appreciating assets. So what the appreciating asset list look like? Should be stocks and other similar types of investments. Absolutely real estate, businesses, income-producing investments. Because the wealthy, the millionaires, they buy assets, not liabilities. Number four, I've emphasized this over and over again. Build multiple income streams. Ask yourself right now before I go through this list: how many different ways. Does your money come into your checking account? Into your household? How many different ways? I bet the answer for a lot of you is one, my paycheck. It's dangerous, right? You never know when you can lose that job. So the wealthy, they don't believe in that. They don't put all their eggs in one basket. They build multiple streams of income. Even if they have, you know, you know, nine to five or W two wage jobs, a lot of times they'll do things on the side, bring in a little extra money. So they have business ownership, right? One of the greatest ways in this world to build wealth in here in the US is to start a business, whether it's full time, part time. They also build multiple strings of income from rental properties, from dividends. They, in other words, they have a portion, if not a complete separate account, investment account, that is nothing but dividend producing investments, high dividend producing stocks or ETFs, bonds, so on and so forth. So they have that income coming in from that source. They consult, right? Especially those that are newly retired. I've gone gone down this tapic ⁓ many, many times. Consult with your former employer. Nowadays, of course, it is so easy to write a book or do a podcast or something. You can get royalties off of those. Another great source. So your imagination wander, right? That's just a very small list. But definitely, definitely try to create multiple streams of income. And again, ask yourself the question: how many ways am I generating income right now? If the answer is one, explore that list. Playbook number five, they control their debt. Now remember, there's good debt and there's bad debt. Good debt, of course. Real estate, right? Good or really good debt is any any liability that is used to purchase or maintain an appreciating asset. That's why the adage is, real estate's good debt, because it's an appreciating asset. You could say the same thing for a business. There's nothing wrong with going in debt for your business, but it will grow. Right? Those are ideas of good debt. go and buy a truck. Let's say you have a construction company. There's nothing wrong with going out and going into debt to go buy a new truck if it's going to make you money. Right? So that's what you got to think about. Is this good debt or bad debt before you sign on the dotted line? Bad debt, of course, things like credit cards or other liabilities, consumer loans. So remember this before you sign on the dotted line on the next loan. Debt should help build my wealth, not destroy my wealth. Playbook number six before I go to break. I want you to, from this point on, it's 347. On Friday, the July the 10th of 2026. Promise me this. You are no longer going to be thinking short term. You are going to become a long-term investor. Ignore the daily headlines. the market volatility. Focus on compounding. You want to have some fun this weekend? Find an online calculator and with some numbers. See if I put in this amount and it grows at this rate over these number of years. Do compounding effect of money? Watch and see where it is. Be patient. Because remember this, you decide to panic, and I do my best every every we go through one of these periods, and Lord knows we've been many years, right? I've been here since 2004 on this show ⁓ behind this So we've been together for many years through a lot of different types of market environments. You gotta ask yourself this question. If I decide to make a major financial decision, like bailing out when because there's some headlines that are scaring you, the news is trying to scare you, ask yourself this question. Where will this decision matter in the next ten years. Where will it matter in the next ten years? That's what the way you need to help make your decisions. come back with playbook number seven, eight, nine, and ten. Let's wrap it up with Kristen Snow right now, Traffic Center. Hello, Kristen. Glad this week's over, Jim? Yeah. Yeah, right. ⁓ parts over now. Are you really? Where about you going? wow. Interesting. No kiddings. ⁓ so obviously you're driving. Wow. How long will that take you to get there? boy. How long so how long will it take you to get there? Yeah, you're stopping a lot. Yeah. ⁓ that's Okay. okay. Well that should be beautiful. Yeah. Yeah. So what's the interest in robotics? no kidding. Well, how'd you get involved in that? Okay. Yeah. Yeah, yeah. Whoa Wow, that's interesting. Gee, was that something? Yeah, no kidding. And these are the robots that like fight each other and everything? These are the robots that like fight each other. Okay. Okay, okay. Yeah. Right, right. Right. Right. Wow, fascinating. All right, man. Thanks for everything this week. Yep. Have a good one. Welcome back to the John Sanchez Show on News Talk 780 KOH. All right, before I get back to ⁓ the topic again, the millionaire playbook, just a quick reminder, if we can help you on your financial planning needs, portfolio management, tax strategies, et cetera, give the office a call, 775-800-1801. the estate planning side of things, whether you have an existing trust, you're thinking about a new one, let's have that ⁓ that 30-minute discovery. No obligation, no cost, no nothing. Just you and I sitting down over ⁓ over the video ⁓ and talking about your life and see what we can do to help you out on that one. Jack Sabin: Thanks. Jon G. Sanchez: Just send me an email, John J O N at specializetrust.com, and ⁓ I'll send you the invite. We'll get that booked up for you. right. This has been a lot of fun. I hope you've enjoyed it. Again, I'm going to start doing this every Friday, the ⁓ various playbooks. Today we're talking about the millionaire playbook. ⁓ gotta hustle. I'm almost out of time. So here we go. Number seven, protect what you have built. How do we do that? Well, millionaires protect their wealth because they know life can happen in so many different forms or fashions, whether it's a lawsuit, whether an accident, etc. So they have Plenty of insurance of all types: life, disability, great health insurance, liability, business liability insurance, et cetera. got plenty of emergency reserves. They take estate planning very seriously. They realize in many cases that estate planning is more important than wealth accumulation. Everything they do is about asset protection. They focus on their business. They work on their business, not necessarily in the business every day. So Building wealth in the millionaire's mind is really only half the job. Protecting it is equally important, if not more. eight, they are constant students. They are always learning. Even the smartest people always are learning. Millionaires read books, ⁓ listen to podcasts, they go to seminars, they have mentors, they seek professional advice. Remember, folks, if you need advice things like this, Most millionaires are more than to spend time with you and mentor you. That's their way of giving back. I I I'm you know, why do you think I do this show every single day? It's my way of giving back. I love teaching and helping people. Playbook number nine. surround themselves with the right team. The CPA, the financial advisor, the realtor, the attorney, the insurance professional. They know they can't do it alone. They know they need a team. And they also make sure that team works congruently with one another. The worst thing that you want is ⁓ your financial advisor is telling you to do one thing, your CPA is telling you to do another, and so on and so forth. You need to act as the, well. We like to do that for our clients. We like to be the quarterback, not not them. But if you're managing your own money, you gotta be the quarterback and bring everybody together. But you gotta have a team. You can't build wealth, sustainable wealth alone. And number 10, ⁓ a legacy. You're gonna find folks, those of you that are younger, because I'm telling you, it it it hit me, you again, when I don't know, I can't tell you exactly what what age. I'm 62, but I can't tell you what age, but It was just recently, I'd say in last year or two. It's really important to leave a legacy. At least it is to me. And I think a lot of you are same way. Leave a legacy for your family, your values, your charitable goals, your estate plan, your story. Because remember this true wealth is not measured by dollars. It's measured by the impact on the people that you leave behind. God bless. Have a great week and we'll see you on Monday. Jack Sabin: John Sanchez is a registered investment advisor and the opinions expressed by Sanchez gone capital management LLC on this show are their own and do not