Latest / The Table with Anthony ONeal / 62% of People Are Running Out of Money — Are You Next?

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62% of People Are Running Out of Money — Are You Next? · The Table with Anthony ONeal

0:00
[SPEAKER_00]: What's going to family welcome back to the table, which I bought Anthony O'Neill and Man Listen.
0:05
[SPEAKER_00]: I have an article here and we're going to be real about this article.
0:09
[SPEAKER_00]: This is going to be a conversation that I believe today is important for all of us in our future.
0:15
[SPEAKER_00]: Because while I was reading this, I read something that literally made my stomach turn.
0:20
[SPEAKER_00]: And with me on this new diet, drinking my grains, my stomach has not turned in a very long, long time.
0:28
[SPEAKER_00]: Did you notice, six to two percent, that six out of ten people who are already done working have no clue how long their money will last?
0:39
[SPEAKER_00]: But here's what's really got me about this particular article and it got me fired up.
0:44
[SPEAKER_00]: This isn't just about people who stop working.
0:49
[SPEAKER_00]: And this is about generational wealth being destroyed within our community right now.
0:56
[SPEAKER_00]: Today at the table, we're going to be breaking down the seven wealth destroyers that are breaking families and even specifically black families and keeping us broke.
1:07
[SPEAKER_00]: I guarantee you.
1:08
[SPEAKER_00]: And I'm gonna say it's one more time.
1:09
[SPEAKER_00]: I guarantee you.
1:11
[SPEAKER_00]: You're doing at least three of these right now.
1:15
[SPEAKER_00]: So please don't get mad at me when I call these out.
1:18
[SPEAKER_00]: I'm not specifically calling you out.
1:21
[SPEAKER_00]: I'm specifically calling out the things that is preventing us from building wealth and having the life that we desire in the future and being able to leave our loved ones with something.
1:32
[SPEAKER_00]: Because don't forget, a good man leaves an inheritance to his children's children.
1:37
[SPEAKER_00]: I think that we sometimes skip over children's children.
1:40
[SPEAKER_00]: So not just to your kids, but to your kids.
1:44
[SPEAKER_00]: So I want to start today by saying, I love you.
1:49
[SPEAKER_00]: I genuinely love you.
1:50
[SPEAKER_00]: And thank you for being a part of this amazing community that we recently changed the name from E three to in the black.
1:58
[SPEAKER_00]: Because today, I want to be honest, and I want to be one hundred with my community.
2:04
[SPEAKER_00]: Can I be rare with you for just a quick second before we really dive in?
2:09
[SPEAKER_00]: The picture comes out of me sometimes.
2:12
[SPEAKER_00]: But this is about your future.
2:13
[SPEAKER_00]: This is about your legacy.
2:15
[SPEAKER_00]: So I need you to lock in, because we are about to have a deep.
2:23
[SPEAKER_00]: A came across this study from CNBC and the numbers are absolutely insane.
2:31
[SPEAKER_00]: A whopping sixty-two percent of retired Americans, individuals who do not currently work have no clue how long their nest egg will last.
2:41
[SPEAKER_00]: So how long their four-one case will last or same as the count?
2:45
[SPEAKER_00]: Any kind of money that they had set aside?
2:48
[SPEAKER_00]: and many people are blaming the rising cost and inflation.
2:55
[SPEAKER_00]: Ninety-two percent from this same article are worried about inflation, eating their savings, eating their investments.
3:04
[SPEAKER_00]: But they don't know what to do about it.
3:08
[SPEAKER_00]: You see, when I see these numbers come across my desk as I'm studying, I think about our community.
3:13
[SPEAKER_00]: I think about the wealth gap.
3:15
[SPEAKER_00]: I think about how twenty-fifty three they're saying.
3:18
[SPEAKER_00]: that people of color, African Americans, will have zero to negative net worth.
3:23
[SPEAKER_00]: We will be in the red, which is why I rename the community to we are now in the black community to what if you're in the red right now, as long as you join this community by subscribing, really listen to podcasts or order audio, every single show is about getting you into the black.
3:47
[SPEAKER_00]: think about how we've been set up to fail financially for generations.
3:53
[SPEAKER_00]: And I get mad.
3:55
[SPEAKER_00]: Not mad at you, but I get mad at the system that never taught us this stuff.
3:59
[SPEAKER_00]: Why in the world?
4:01
[SPEAKER_00]: Did we not get taught this information?
4:03
[SPEAKER_00]: It's out of high schools.
4:05
[SPEAKER_00]: A lot of us have degrees within this community.
4:08
[SPEAKER_00]: Why do we not have a financial one-on-one literacy course inside of college?
4:14
[SPEAKER_00]: Same list plug, much love to my alma mater, my HBCU school, the Virginia Union State University.
4:23
[SPEAKER_00]: that has hired me as a professor to come in and teach consumer economics and financial one-on-one to their freshmen and to their sophomores.
4:34
[SPEAKER_00]: Because let me tell you something.
4:37
[SPEAKER_00]: Your grandmother didn't teach you about inflation.
4:43
[SPEAKER_00]: Your mother and your father probably couldn't teach you how to protect your money because they didn't know how, because their parents didn't teach you.
4:51
[SPEAKER_00]: Your dad didn't explain about asset allocation because no one taught him.
4:58
[SPEAKER_00]: Your grandpa couldn't teach you.
5:00
[SPEAKER_00]: Let's go in the deep, but your school teachers.
5:03
[SPEAKER_00]: Your school teachers couldn't teach you how to invest because they were trying, they were living paycheck to paycheck because they was trying to teach us.
5:10
[SPEAKER_00]: I would not be his and bad-behinds.
5:14
[SPEAKER_00]: But today, right now, in twenty twenty five, the cycle has to stop with you and I, right here, right now, at this table.
5:24
[SPEAKER_00]: And here's what I need you to do.
5:26
[SPEAKER_00]: I need you to pause this video right now and ask yourself this question.
5:30
[SPEAKER_00]: He paused.
5:33
[SPEAKER_00]: Do you know how long your money will last?
5:38
[SPEAKER_00]: Once you pause right now, I don't care if you're twenty-two, I don't care if you're eighteen, I don't care if you're thirty-five, forty, and you're ten, fifteen years from the season of, because I don't call it retirement, I call it the season of where you don't have to work anymore.
5:54
[SPEAKER_00]: But if you, with what you're doing right now, whatever age you're at right now, by the time you get the sixty-five years old, which is quote-unquote the year of quote-unquote retirement,
6:07
[SPEAKER_00]: Will you have money that will last you for the rest of your life?
6:10
[SPEAKER_00]: Do you have an investment portfolio?
6:12
[SPEAKER_00]: Do you have a strategy?
6:14
[SPEAKER_00]: Pose and answer that question.
6:19
[SPEAKER_00]: If you could answer that question within thirty seconds, I'm sorry my brothers and my sisters.
6:25
[SPEAKER_00]: You're part of the sixty-two percent and that is a problem.
6:31
[SPEAKER_00]: For today and today only that is okay.
6:34
[SPEAKER_00]: because I'm about to give you some resources, some tools, and some information to help you fix this.
6:39
[SPEAKER_00]: All right, fine, let me keep it real with you for a quick minute here.
6:43
[SPEAKER_00]: Hmm, most career chain programs, they promise you the world.
6:47
[SPEAKER_00]: They didn't leave you hanging, but this QA bootcamp, I'm about to tell you about, and be real to a friend, is gonna take about twenty weeks of hard work studying after your day job, pushing through when you want to quit.
7:00
[SPEAKER_00]: But this is the fastest, mostly jet pad I found to go from, whatever you're making now, to eighty five thousand dollars plus, working from home and tech.
7:11
[SPEAKER_00]: One hundred percent, no coding required.
7:13
[SPEAKER_00]: See, career has over one thousand three hundred graduates, not working for companies like Google, Apple, Amazon, even Disney.
7:20
[SPEAKER_00]: Their program is ranked number one by course report.
7:23
[SPEAKER_00]: And here's what I love.
7:24
[SPEAKER_00]: You don't just train you and leave.
7:25
[SPEAKER_00]: They coach you until you actually get a job.
7:29
[SPEAKER_00]: You see one of my friends Mike went from working ninety hours a week making sixty three thousand dollars a year to making ninety thousand dollars plus in commission working from home Sarah single mom went from retail to ninety five thousand dollars a year as a QA supervisor.
7:42
[SPEAKER_00]: These are not special people.
7:44
[SPEAKER_00]: They just made a decision to stick to it for twenty weeks and it changed their life.
7:48
[SPEAKER_00]: The U.S.
7:49
[SPEAKER_00]: Bureau Labor Statistics Project set there will be a twenty-five percent growth in QA jobs by twenty thirty-two.
7:54
[SPEAKER_00]: And companies are in desperate need of QA professionals because when their system goes down they lose millions.
8:01
[SPEAKER_00]: So if you're tired of being underpaid
8:03
[SPEAKER_00]: and you want a recession-proof career that lets you work from anywhere, not just home, but even on the beach, do not wait.
8:10
[SPEAKER_00]: Every day you delay is another day someone else is getting the training you need.
8:16
[SPEAKER_00]: Want to visit anthonyo.com for us as QA.
8:19
[SPEAKER_00]: Again, that is anthonyo.com for us as QA.
8:22
[SPEAKER_00]: Let's sign up today.
8:23
[SPEAKER_00]: Let's go change your life.
8:25
[SPEAKER_00]: I promise you.
8:27
[SPEAKER_00]: Let me break down something that's going to blow your mind.
8:30
[SPEAKER_00]: This study found that forty-five percent of people say their expenses are higher than they expected.
8:39
[SPEAKER_00]: That means they failed to plan properly.
8:44
[SPEAKER_00]: And I want to say this, this cannot be you.
8:47
[SPEAKER_00]: You see, my father growing up when I was, I think I was, uh, twelve, my sister, event, Henry was, uh, I want to say nine, eight or nine,
9:00
[SPEAKER_00]: and my brother, John Gibbons, who was go by John Gibbs, was part of around five, right?
9:06
[SPEAKER_00]: And my dad woke us up, not even exaggerating at one o'clock in the morning, came into the bedroom, woke us up, took us out to his garage, and in his garage, that's where his office was, and he spent so much time out there, when he got off work, and he said, man, what does this say?
9:22
[SPEAKER_00]: And I'm sitting there reading it and I said, proper prior planning prevents poor performances.
9:29
[SPEAKER_00]: And you guys say, yeah, what he said and my brothers say, yeah, what Anthony said.
9:35
[SPEAKER_00]: And it didn't make any sense to me.
9:38
[SPEAKER_00]: It didn't make any sense to me at that time that proper prior planning prevents poor performances.
9:44
[SPEAKER_00]: As a matter of fact, if you're watching his live, type that in the chat.
9:52
[SPEAKER_00]: So if we fail to plan, then we plan to fail.
9:58
[SPEAKER_00]: And right now, a lot of us, man, I think a lot of us are making decent money.
10:02
[SPEAKER_00]: And I was talking with one of my good friends, Courtney, I'm who's the host of Investing Uncomplicated, who was a regular guest on the show monthly and we talked about investing.
10:12
[SPEAKER_00]: And we were just talking about how there are so many people who we know mutually, who's made hundreds of thousands of dollars and even millions of dollars, but they're losing homes and they're turning in cars.
10:22
[SPEAKER_00]: And it's because, man,
10:23
[SPEAKER_00]: They got the money, but they didn't know how to plan and use and store that money correctly.
10:33
[SPEAKER_00]: So today, what I want to do is I want to give you seven things that are destroying our family's wealth.
10:45
[SPEAKER_00]: And listen, I'm not going to sugarcoat nothing.
10:48
[SPEAKER_00]: I'm going to keep it one hundred.
10:50
[SPEAKER_00]: And remember what I said from the very beginning of the show, I love you.
10:54
[SPEAKER_00]: I love you.
10:56
[SPEAKER_00]: I've never probably seen about ninety percent of you all, but I want you to know that today I love you, but today is going to be straight straight at it.
11:05
[SPEAKER_00]: Because I guarantee you, everyone.
11:09
[SPEAKER_00]: is doing at least three of these things.
11:12
[SPEAKER_00]: And what I want to challenge you today is if when you identify that, write down the three things that you're going to be working on for the next twelve months, because I don't expect you to have this fix, but then one month within two months, it's going to take some time.
11:27
[SPEAKER_00]: Here's destroyer number one.
11:29
[SPEAKER_00]: Let's get into it.
11:30
[SPEAKER_00]: I teach about this all the time, but living without a written plan.
11:35
[SPEAKER_00]: You see, seventy one percent of people in this study don't know the optimal way to spend their money.
11:43
[SPEAKER_00]: Let me say that one more game.
11:44
[SPEAKER_00]: I'm a seventy one percent.
11:46
[SPEAKER_00]: Don't have a clue on how to manage their money properly.
11:51
[SPEAKER_00]: And here's the thing.
11:53
[SPEAKER_00]: You can't hit a target that you can't see.
11:57
[SPEAKER_00]: because if you aim at nothing, you're gonna hit that all the time.
12:01
[SPEAKER_00]: I'm gonna say it one more time so you can get it.
12:04
[SPEAKER_00]: If you aim at nothing, that means you're just throwing an arrow out there and you're letting it hit wherever, but there's no strategy.
12:14
[SPEAKER_00]: There's no written plan.
12:15
[SPEAKER_00]: There's no target.
12:19
[SPEAKER_00]: If you don't have a written budget, if you don't have a written financial plan,
12:25
[SPEAKER_00]: And let me go deeper.
12:26
[SPEAKER_00]: If you don't have a written vision for your life, for you and your spouse's life, and for you and your family's life, you're hoping and praying and hope and prayer alone is not a strategy family.
12:42
[SPEAKER_00]: I'm gonna say that one more time.
12:44
[SPEAKER_00]: Hope and prayer alone is not gonna hit the target.
12:51
[SPEAKER_00]: Now, I know I got a lot of Christians who rock with me because I'm a Christian.
12:56
[SPEAKER_00]: But sometimes we think all we can do is just pray.
13:00
[SPEAKER_00]: No.
13:02
[SPEAKER_00]: Faith without words is what?
13:04
[SPEAKER_00]: Dad.
13:05
[SPEAKER_00]: So yes, while I want you praying over everything and anything that God puts on your heart, when you get up off your knees, hopefully you pray and ask God for a strategy and a system that you can put on paper and follow it.
13:20
[SPEAKER_00]: So now you can put in no work to make it happen.
13:26
[SPEAKER_00]: Because here's the truth.
13:28
[SPEAKER_00]: If you have thirty thousand dollars or three hundred thousand dollars, if you don't have a plan for your money, your money has a plan for you.
13:37
[SPEAKER_00]: And what's that plan, AO?
13:39
[SPEAKER_00]: To disappear.
13:42
[SPEAKER_00]: To disappear.
13:46
[SPEAKER_00]: So this means you have to have a budget.
13:50
[SPEAKER_00]: This means that you need to sit down and write the plan.
13:54
[SPEAKER_00]: Write the strategy.
13:56
[SPEAKER_00]: How much money am I going to make this year?
13:58
[SPEAKER_00]: How much money do I want to save this year?
14:02
[SPEAKER_00]: Okay, cost of living is going up.
14:05
[SPEAKER_00]: Food is going up.
14:06
[SPEAKER_00]: That's going up.
14:07
[SPEAKER_00]: Okay, cool, great.
14:08
[SPEAKER_00]: How do I make sure that my life is on paper and I'm following this strategy?
14:19
[SPEAKER_00]: This is how, this is not how.
14:21
[SPEAKER_00]: This is why I put together our budgeting tool.
14:27
[SPEAKER_00]: And we're gonna put that inside of today's show notes.
14:30
[SPEAKER_00]: It's nine dollars.
14:32
[SPEAKER_00]: It is nine dollars.
14:35
[SPEAKER_00]: And we literally are helping you budget monthly, quarterly, yearly, and budget for your future.
14:41
[SPEAKER_00]: Because see, when you're budgeting, you're setting aside money and you're investing money and you see your money growing.
14:48
[SPEAKER_00]: and let me keep going.
14:50
[SPEAKER_00]: So, so we're gonna put our budgeting tool in the show notes.
14:52
[SPEAKER_00]: You need to get a copy of that.
14:54
[SPEAKER_00]: Here's the choreo number two.
14:56
[SPEAKER_00]: Ignoring healthcare costs.
14:58
[SPEAKER_00]: Oh my gosh.
15:02
[SPEAKER_00]: Eighty six percent.
15:04
[SPEAKER_00]: Eighty six percent.
15:07
[SPEAKER_00]: Under estimate, how much healthcare is going to cost them when they get older?
15:14
[SPEAKER_00]: Man, this one hits close to home because I've seen families go from wealthy to broke because of one medical emergency.
15:24
[SPEAKER_00]: My, our, our show producer, one of them Edward was coming in and, and, and man, the last, the last sixty days, I was say about sixty, yeah, about sixty days, sixty nine days going on ninety days by the time you all see this video.
15:40
[SPEAKER_00]: I've really been on the health kick.
15:43
[SPEAKER_00]: And
15:47
[SPEAKER_00]: There's three things that really be focusing on it.
15:50
[SPEAKER_00]: My health first, education next, ending wealth.
15:56
[SPEAKER_00]: Because I've noticed that, man, I can have all this money.
16:00
[SPEAKER_00]: But if I'm not healthy, I can't live to enjoy it.
16:03
[SPEAKER_00]: If I'm not healthy, I can't be an amazing husband for my wife.
16:06
[SPEAKER_00]: If I'm not healthy, if I'm blessed to have kids, I can't be a healthy father for my kids.
16:11
[SPEAKER_00]: If I'm not healthy, I can't run this business and do all these shows and do the things God has called me to do.
16:17
[SPEAKER_00]: So I started focusing on my health because I know when I turn sixty.
16:22
[SPEAKER_00]: I was reading a study that the health issues that we have in our sixies that we have in our six seventies is because of what we did in our twenties thirties and forties.
16:32
[SPEAKER_00]: And so with me being forty-one, I said, yo, I gotta start eating better.
16:36
[SPEAKER_00]: Yo, this dummy broke all of our issues when we get sixty, when we get seventy, for black man starts in our guts.
16:43
[SPEAKER_00]: I don't have a gut no more.
16:45
[SPEAKER_00]: And as a matter of fact, we are going to be releasing a show sometime in the beginning of September seven to show you the transformation and exactly how I did it on a budget and how you could do it on a budget.
16:59
[SPEAKER_00]: because here's the truth and this will ever say your health is your wealth.
17:06
[SPEAKER_00]: So you better plan for both the average person in America is going to spend a little bit over three hundred thousand dollars on health care their lifetime.
17:20
[SPEAKER_00]: Where is that money coming from?
17:21
[SPEAKER_00]: Is it coming from your savings?
17:24
[SPEAKER_00]: I got it.
17:25
[SPEAKER_00]: Are you robbing from your kids inheritance?
17:34
[SPEAKER_00]: goes back to having a plan, goes back to having a strategy.
17:38
[SPEAKER_00]: What happens to your family if something happened to you?
17:42
[SPEAKER_00]: I'm gonna ask out again.
17:43
[SPEAKER_00]: What happens to your family when something happens to you?
17:47
[SPEAKER_00]: You see, life insurance feels scary, feels complicated, and even expensive.
17:52
[SPEAKER_00]: But here's the thing, it doesn't have to be anymore.
17:56
[SPEAKER_00]: Most of us are walking around with no life insurance policy, but we have a name brand item.
18:03
[SPEAKER_00]: thinking, I'm young, I'm healthy, I got time.
18:07
[SPEAKER_00]: And I want to be honest with you, I'm so sorry.
18:09
[SPEAKER_00]: That's not a faith.
18:11
[SPEAKER_00]: That is pure foolishness.
18:14
[SPEAKER_00]: Here's what I love about my friends already, those.
18:16
[SPEAKER_00]: They've made getting term life insurance, one hundred percent simple.
18:20
[SPEAKER_00]: No medical exams, no waiting weeks for approval.
18:24
[SPEAKER_00]: You can get a quote online in literally ten minutes like myself and get approved the exact same day.
18:29
[SPEAKER_00]: We're talking coverage from a hundred thousand dollars up to two million dollars with absolutely no blood work.
18:36
[SPEAKER_00]: For way less than what you actually think, term life insurance is pure protection at a fraction of the cost of whole life insurance.
18:44
[SPEAKER_00]: Look, I healthy dirty road can get a five hundred thousand policy for about twenty five dollars a month.
18:50
[SPEAKER_00]: That's less than your Netflix and Spotify combined.
18:54
[SPEAKER_00]: Listen, your family deserves to be protected.
18:59
[SPEAKER_00]: Don't leave them struggling in pay bills.
19:01
[SPEAKER_00]: and funeral costs because you kept putting this on.
19:05
[SPEAKER_00]: While you're in heaven, smiling, your family's out here stressed because of your poor decisions.
19:11
[SPEAKER_00]: Let's not stop playing games with your family's future.
19:14
[SPEAKER_00]: Get your free quote today in ten minutes by going to Anthonyonil.com for Sashibud.
19:20
[SPEAKER_00]: Again, go to Anthonyonil.com for Sashibud.
19:25
[SPEAKER_00]: And our promise you
19:28
[SPEAKER_00]: You will feel way better and sleep better at night.
19:31
[SPEAKER_00]: All right, let's get back to today's show.
19:35
[SPEAKER_00]: Here's the story number three.
19:37
[SPEAKER_00]: Fear of the stop market.
19:38
[SPEAKER_00]: You see, eighty percent, eighty percent, and make sure I got this right.
19:42
[SPEAKER_00]: Yeah, that's right.
19:43
[SPEAKER_00]: eighty percent of people are scared of the market downturns.
19:48
[SPEAKER_00]: Listen, listen, I totally get it.
19:50
[SPEAKER_00]: I totally get it.
19:51
[SPEAKER_00]: I totally get it.
19:52
[SPEAKER_00]: Nobody wants to lose money.
19:54
[SPEAKER_00]: Okay, I get it.
19:55
[SPEAKER_00]: But here's what I need to understand.
19:58
[SPEAKER_00]: Fear keeps you broke.
20:00
[SPEAKER_00]: Knowledge makes you wealthy.
20:03
[SPEAKER_00]: fear keeps you broke, and fear actually intentionally makes you lose money.
20:10
[SPEAKER_00]: What do you mean, Anthony?
20:11
[SPEAKER_00]: But if you fear investing into the stock market, well, with inflation going up, if you have a hundred dollars inside your savings account today, for an example, and inflation goes up, not that means that your hundred dollars to borrow is only worth ninety dollars.
20:27
[SPEAKER_00]: So do you lost ten dollars?
20:29
[SPEAKER_00]: because of your fear.
20:31
[SPEAKER_00]: But if you have the right knowledge, you will put that a hundred dollars inside of a mutual fund, you'll put that a hundred dollars, and it's not about how your savings account, you'll put that money somewhere to where it will get if you do the stock market.
20:43
[SPEAKER_00]: We've seen on average we're seeing in between eight to ten, sometimes even twelve percent of an average over the last forty years in S&P five hundred.
20:51
[SPEAKER_00]: So now your hundred dollars can go from anywhere from a hundred and eight to a hundred and twelve dollars for just sitting there now is hanging with inflation.
20:59
[SPEAKER_00]: You see, while you're sitting on a sidelines being scared, inflation is eating your cash, like termites each or wood.
21:07
[SPEAKER_00]: You can't see it happening, but it's destroying your purchasing power every single day.
21:15
[SPEAKER_00]: This is why I support an Iendor's Moomu, because if you open up a Moomu account two days before the end of this month,
21:25
[SPEAKER_00]: Right?
21:26
[SPEAKER_00]: And you open it up with a minimum of a hundred dollars.
21:30
[SPEAKER_00]: They are going to give you free the video stock about to like, twenty dollars or up to a thousand on top of the money that you've already put on top of it.
21:40
[SPEAKER_00]: So if you put, let's say for example, you open them to count today with a hundred and fifty dollars and you buy some stock.
21:46
[SPEAKER_00]: Well, won't you keep that count open for thirty days?
21:49
[SPEAKER_00]: They're going to give you some the video stock.
21:53
[SPEAKER_00]: That's free money.
21:56
[SPEAKER_00]: Go to www.anthernerno.com for slash moomu to check them out right now.
22:00
[SPEAKER_00]: Listen to me, y'all.
22:01
[SPEAKER_00]: Listen to me.
22:02
[SPEAKER_00]: Don't let number three D the day that's destroying you.
22:06
[SPEAKER_00]: I need you to put away a hundred dollars a month and start investing.
22:12
[SPEAKER_00]: Open up that moomu account to day.
22:15
[SPEAKER_00]: Go subscribe to investing uncomplicated from my boy Courtney, who has an MBA in finance.
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[SPEAKER_00]: He is focusing on helping everyday average people like yourself become everyday investors.
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[SPEAKER_00]: Here's the story number four, the inflation ignorance.
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[SPEAKER_00]: Here it is.
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[SPEAKER_00]: Here it is.
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[SPEAKER_00]: Number four.
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[SPEAKER_00]: This is the one that six to two percent don't even know about it.
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[SPEAKER_00]: While you're keeping your money in a savings account earning zero point five percent, inflation is still in eight percent of the purchasing power every single year.
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[SPEAKER_00]: Let me break this down for you.
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[SPEAKER_00]: If you have ten thousand dollars in a savings account right now,
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[SPEAKER_00]: After one year of eight percent inflation, that money can only buy what nine thousand two hundred dollars could buy last year.
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[SPEAKER_00]: You just lost eight hundred dollars of purchasing power and you didn't even know it.
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[SPEAKER_00]: This is why ninety-two percent of people are worried about inflation, but don't know how to protect themselves.
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[SPEAKER_00]: They're watching their wealth disappear in real time.
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[SPEAKER_00]: This is why I encourage you to open up and hire your savings account.
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[SPEAKER_00]: Because if you open up a hire your savings account with so far, for an example, and if you open up the plus account, they're going to give you a four point five percent interest rate, plus a three hundred dollar bonus for just opening up an account.
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[SPEAKER_00]: How do you get your three hundred dollar bonus and tell you real quick?
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[SPEAKER_00]: All right?
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[SPEAKER_00]: What you're gonna do is you're gonna open up a checking and saves account.
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[SPEAKER_00]: You're gonna automatically deposit a little bit of your money inside the checking account that you want to save and go towards your high yield savings for your emergency fund because you did that.
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[SPEAKER_00]: You open up an account and you funded it and you you gave them some form of a direct deposit.
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[SPEAKER_00]: Now you've got a free three hundred dollars and four four and four point five percent on your money.
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[SPEAKER_00]: Don't be a part of the ninety two percent who are worried about inflation because you're allowing your money to follow inflation to beat inflation technically.
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[SPEAKER_00]: Here to short number five, no emergency fund.
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[SPEAKER_00]: No emergency fund strategy.
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[SPEAKER_00]: Seventy-seventy-percent of people fear outliving their money.
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[SPEAKER_00]: You know why?
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[SPEAKER_00]: Because they never built a proper emergency fund.
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[SPEAKER_00]: So every crisis becomes a financial disaster.
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[SPEAKER_00]: An emergency fund isn't just for emergencies.
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[SPEAKER_00]: It's for opportunities as well.
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[SPEAKER_00]: When the market crashes and everyone's selling, you want to be the one buying.
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[SPEAKER_00]: But you can't do that if you're living paycheck to paycheck like the majority of Americans.
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[SPEAKER_00]: I suggest, but then slot my escape plan, my money plan for you all.
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[SPEAKER_00]: It's to put away at least a minimum of three to six months of your average net pay for emergencies.
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[SPEAKER_00]: And then you put anything extra on top of that to buy stocks, to buy investments, to help build your wealth.
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[SPEAKER_00]: Because remember, our number one wealth building tool is margin.
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[SPEAKER_00]: Margin is, this is how much money I make.
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[SPEAKER_00]: This is how much money I have going out, West and between.
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[SPEAKER_00]: What's in between is the margin that margin is what we can invest, that margin is what we can enjoy.
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[SPEAKER_00]: Which leads me to destroy number six, which is lifestyle inflation.
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[SPEAKER_00]: Because nine times out of ten, what's destroying our margin is lifestyle inflation.
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[SPEAKER_00]: Because every time you get a raise, what do you do?
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[SPEAKER_00]: You upgrade your lifestyle.
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[SPEAKER_00]: If this
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[SPEAKER_00]: is your income and if this are your expenses, right?
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[SPEAKER_00]: And let's say your income goes up, so does your expenses.
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[SPEAKER_00]: You upgrade your lifestyle.
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[SPEAKER_00]: You get a bigger car, you get a bigger house, more expensive clothes, and now it is said, and you deserve Gucci Louis Prada.
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[SPEAKER_00]: You get a new purse, oh my gosh, I'm an upgrade from a little bit of a purse to a Chanel purse.
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[SPEAKER_00]: You see, every raise becomes a reason to spend more instead of invest more.
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[SPEAKER_00]: And I see people making six figures who are broken the people actually making fifty thousand dollars a year.
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[SPEAKER_00]: You know why?
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[SPEAKER_00]: Because they never learned to live below their means and invest a difference.
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[SPEAKER_00]: They had this yellow philosophy.
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[SPEAKER_00]: You only live once.
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[SPEAKER_00]: So I'm going to enjoy it.
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[SPEAKER_00]: And to me, I've been there.
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[SPEAKER_00]: And if that's you today, that's a bunch of bull crap.
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[SPEAKER_00]: because how many times have you pulled into a McDonald's?
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[SPEAKER_00]: How many times have you, um, ordered her Uber and it's a sixty-seven-year-old individual who can barely even really, you know, get around, but they're driving you.
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[SPEAKER_00]: It's not because they want to.
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[SPEAKER_00]: It's not because they're trying to pass time, it's because they need the money.
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[SPEAKER_00]: And do you really want that to be you?
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[SPEAKER_00]: Which leads me to the last, destroyer number seven.
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[SPEAKER_00]: No legacy mindset.
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[SPEAKER_00]: This one is the big one.
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[SPEAKER_00]: Found.
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[SPEAKER_00]: You're not just building wealth for you.
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[SPEAKER_00]: You're building it for generations.
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[SPEAKER_00]: But most people are thinking about what they can spend, not what they can build and leave that box.
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[SPEAKER_00]: When I make financial decisions, I think about my kids' kids.
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[SPEAKER_00]: When I make financial decisions, I think about my nephews and my niece.
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[SPEAKER_00]: When I make financial decisions, I think about my team members.
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[SPEAKER_00]: When I think about financial decisions, I think about my children and community.
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[SPEAKER_00]: What can I, how can I build this?
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[SPEAKER_00]: Enjoy the desires of my heart.
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[SPEAKER_00]: But then also, position my family and the people who I love to be blessed if something was happen to me.
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[SPEAKER_00]: I think about breaking generational curses and building generational wealth.
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[SPEAKER_00]: I think about my kids.
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[SPEAKER_00]: I saw this viral video going viral right now and everyone was laughing at it.
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[SPEAKER_00]: But I thought it was actually a go concept.
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[SPEAKER_00]: And he was bragging.
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[SPEAKER_00]: Someone said, how did you get here?
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[SPEAKER_00]: He said, oh man, I got here because my grandpa left me a house.
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[SPEAKER_00]: I got here because my grandpa gave me a million pounds.
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[SPEAKER_00]: I ain't got to work my butt off like that.
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[SPEAKER_00]: I just gotta sustain and just build on top of the million.
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[SPEAKER_00]: So I take his million and I just flip it and I make five million.
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[SPEAKER_00]: But I had to go out here and work at McDonald's.
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[SPEAKER_00]: I'm just blessed like that.
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[SPEAKER_00]: And while people were laughing at it, I said, y'all, why y'all laughing at it is actually brilliant.
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[SPEAKER_00]: I don't want my kids to start in a red and have to hustle as bad as me.
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[SPEAKER_00]: And I want them to start in the black.
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[SPEAKER_00]: Take my millions, skip over McDonald's, skip over driving for Uber and take my millions.
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[SPEAKER_00]: And flip it and multiply it because while they were growing up, I was given them education.
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[SPEAKER_00]: They worked with me.
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[SPEAKER_00]: They worked for the company, but when they got done with learning it, they didn't have to go out there and work like a Hebrew slave.
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[SPEAKER_00]: That changes everything about how I handle it.
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[SPEAKER_00]: So real quick, I want to give you the solution.
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[SPEAKER_00]: We identify the problem with the seven things.
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[SPEAKER_00]: Now I want to give you the solution and I call this
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[SPEAKER_00]: I have an acronym for it, A, period O, period N. This will come up on screen.
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[SPEAKER_00]: I call this a wealth protection plan.
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[SPEAKER_00]: Let's get into it real quick.
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[SPEAKER_00]: A stands for assess your current position.
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[SPEAKER_00]: You see, first you need to know where you are.
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[SPEAKER_00]: Calculate your actual monthly expenses.
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[SPEAKER_00]: Not what you think they are.
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[SPEAKER_00]: No, what they actually are.
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[SPEAKER_00]: And we do this inside of my budgeting tool.
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[SPEAKER_00]: We want you to open up your credit card statements, your bank statement, your debit card statements, anything to have.
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[SPEAKER_00]: And we want you to write down exactly, hey, I'm paying fifty two dollars and thirty two cents for this.
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[SPEAKER_00]: I'm paying five hundred and nineteen dollars and fifty one cents for this.
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[SPEAKER_00]: You know, I got Netflix at nineteen ninety nine.
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[SPEAKER_00]: We want you to identify exactly what your cost.
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[SPEAKER_00]: And then determine
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[SPEAKER_00]: your real network and project how long your money will last.
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[SPEAKER_00]: Most people are living in the financial fantasy land, right?
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[SPEAKER_00]: They think they spend less than they do to only realize that no your action spending more and it's killing you.
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[SPEAKER_00]: So I want you to get real with your numbers today because if we don't get real with our numbers today, we can't change an address where we are tomorrow.
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[SPEAKER_00]: which leads me to, oh, optimize your defense strategy.
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[SPEAKER_00]: Now, you need to protect what you have.
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[SPEAKER_00]: Look into anything, right?
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[SPEAKER_00]: I want you to sit down and figure out, how can I protect what I have?
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[SPEAKER_00]: How can I, I can protect the by investing?
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[SPEAKER_00]: I can protect it by putting it into a health savings account.
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[SPEAKER_00]: I could protect it by diversifying my investments.
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[SPEAKER_00]: Stop putting all your money in one place, hoping for the best.
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[SPEAKER_00]: No, spread it out.
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[SPEAKER_00]: Spread it out.
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[SPEAKER_00]: We've leased me to the end, which is navigated with her purpose.
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[SPEAKER_00]: Create your family wealth mission statement.
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[SPEAKER_00]: What are you building this?
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[SPEAKER_00]: Well, don't disayment.
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[SPEAKER_00]: I want a big house.
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[SPEAKER_00]: Don't disay.
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[SPEAKER_00]: I want a big car.
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[SPEAKER_00]: No, what?
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[SPEAKER_00]: And why?
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[SPEAKER_00]: Why are you working two jobs?
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[SPEAKER_00]: Why are you eliminating a debt?
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[SPEAKER_00]: Don't disay because I want to be debt free.
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[SPEAKER_00]: I'm tired of paying bills.
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[SPEAKER_00]: No, what's the why?
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[SPEAKER_00]: And build the system, not just savings.
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[SPEAKER_00]: And why you're building the system, teach your children what you're building, and why you're building it.
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[SPEAKER_00]: and also watch this test in what you learn it.
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[SPEAKER_00]: Rachel Cruz says something that's very, very well known and I love how she says.
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[SPEAKER_00]: She said, y'all listen, remember what children more as caught than talked?
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[SPEAKER_00]: Think about it.
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[SPEAKER_00]: Kids can watch TV.
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[SPEAKER_00]: Don't even know what the TV is saying.
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[SPEAKER_00]: They don't understand it, but they're catching the dance move.
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[SPEAKER_00]: So without being taught how to dance, they're catching and watching the dance moves, they can start dancing.
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[SPEAKER_00]: So if they see you doing something, they'll catch it.
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[SPEAKER_00]: Here's today.
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[SPEAKER_00]: Stop thinking about when you have to stop working and start thinking about financial independence.
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[SPEAKER_00]: It's a big difference.
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[SPEAKER_00]: One is when you have to stop because of medical reasons.
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[SPEAKER_00]: The other is when you get to stop.
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[SPEAKER_00]: As I'm coming to the end of today's episode, I want to ask you some hard questions.
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[SPEAKER_00]: I need you to be honest with yourself.
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[SPEAKER_00]: How many of you are worried about your credit score than your network?
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[SPEAKER_00]: How many of you are so focused on getting that credit score to a hundred that you skip over?
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[SPEAKER_00]: Man, how do I build my network?
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[SPEAKER_00]: Don't get it twisted.
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[SPEAKER_00]: I believe that a credit score in today's day and time is important.
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[SPEAKER_00]: But your network is what actually matters because that is what's going to bring freedom, that is what you can pass down.
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[SPEAKER_00]: How many are spending more?
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[SPEAKER_00]: How many are spending more on your car payment than you are in your investment account?
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[SPEAKER_00]: You see, your car is going down in value every day.
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[SPEAKER_00]: but your investment portfolio invested correctly could be going up every day.
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[SPEAKER_00]: Here's another hard question that's gotta ask.
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[SPEAKER_00]: How many of you are teaching your kids about money?
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[SPEAKER_00]: Beyond money doesn't grow on trees.
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[SPEAKER_00]: I don't get why parents teach that.
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[SPEAKER_00]: What?
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[SPEAKER_00]: That's not financial education.
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[SPEAKER_00]: That's just complaining.
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[SPEAKER_00]: No.
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[SPEAKER_00]: How many of you are honest and sitting down and teaching your kids something about money?
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[SPEAKER_00]: Why are you redduplicating what your parents did?
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[SPEAKER_00]: No.
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[SPEAKER_00]: Have the conversation.
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[SPEAKER_00]: The article says that forty-five percent of people have higher expenses than they expected.
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[SPEAKER_00]: That means they failed to plan properly.
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[SPEAKER_00]: Y'all the urgency is right now.
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[SPEAKER_00]: Not tomorrow.
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[SPEAKER_00]: Not next week is right now.
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[SPEAKER_00]: The best time to plant a tree was twenty years ago.
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[SPEAKER_00]: I was just talking to my last paper.
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[SPEAKER_00]: I said, you'll win is the next best time to plant a tree.
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[SPEAKER_00]: He's a Mexican and he looked at me.
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[SPEAKER_00]: He said, two days.
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[SPEAKER_00]: Go plant that tree, y'all.
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[SPEAKER_00]: Go plant your financial tree and watch it grow, watch it blossom.
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[SPEAKER_00]: And I promise you, I'm going to be on this journey with you.
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[SPEAKER_00]: We're going to be on this day and together.
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[SPEAKER_00]: And we're going to see our financial trees just grow and produce fruit.
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[SPEAKER_00]: It should go in to know now.
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[SPEAKER_00]: I love you.
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[SPEAKER_00]: God bless you.
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[SPEAKER_00]: See you in the next one.
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[SPEAKER_00]: Peace out.