1 00:00:00,000 --> 00:00:06,440 Dr. Jerry, you got the whole world waiting, been ready for you to start the conversation. 2 00:00:06,440 --> 00:00:13,160 No point of view, we got the haters confused, leave it up to you to bring us all the good 3 00:00:13,160 --> 00:00:14,160 news. 4 00:00:14,160 --> 00:00:17,280 Positive vibes and the sex appeal too. 5 00:00:17,280 --> 00:00:20,440 Dr. Andre Jerry, can I get an interview? 6 00:00:20,440 --> 00:00:24,660 You, you, you, you, you, you, you, you. 7 00:00:24,660 --> 00:00:26,640 Good evening, good evening everybody. 8 00:00:26,640 --> 00:00:29,480 You are live with Dr. Andre Jerry. 9 00:00:29,480 --> 00:00:34,760 I'm your host, Dr. Jerry, and I want to thank you for tuning in with me tonight and for 10 00:00:34,760 --> 00:00:37,480 supporting the Artist First Radio Network. 11 00:00:37,480 --> 00:00:41,080 We definitely appreciate your listenership. 12 00:00:41,080 --> 00:00:48,520 So listen, for our last live broadcast, I sort of veered from my traditional format of interviewing 13 00:00:48,520 --> 00:00:53,320 a featured guest, and instead I tried a little something different. 14 00:00:53,320 --> 00:01:00,520 I talked directly to you, the listeners, and I shared some personal stories and a little 15 00:01:00,520 --> 00:01:05,440 bit about what life has been like for me since returning from overseas. 16 00:01:05,440 --> 00:01:11,320 And for those who aren't aware and who may be new to the show, I work in foreign military 17 00:01:11,320 --> 00:01:19,600 sales and I've completed two diplomatic assignments in Saudi Arabia over the past three years. 18 00:01:19,600 --> 00:01:24,240 And I've been back in the States now for about seven months. 19 00:01:24,240 --> 00:01:31,240 And to be honest with you all, I'm still getting reacclimated to being back home and reconnecting 20 00:01:31,240 --> 00:01:34,440 with friends and family. 21 00:01:34,440 --> 00:01:38,040 So that's sort of what we talked about during the last episode. 22 00:01:38,040 --> 00:01:41,920 And I was surprised, I got a lot of great feedback from that show. 23 00:01:41,920 --> 00:01:48,760 It seemed that people really appreciated the more relaxed and formal approach. 24 00:01:48,760 --> 00:01:55,280 So I'll be sure to incorporate more of that in subsequent shows, particularly in this 25 00:01:55,280 --> 00:02:01,400 transitional period of the show as we look into revamping things and sort of expanding 26 00:02:01,400 --> 00:02:04,400 our niche in the talk radio space. 27 00:02:04,400 --> 00:02:08,200 So let's get right into it. 28 00:02:08,200 --> 00:02:15,240 As you know, we're just a few days out from being five months into this year. 29 00:02:15,240 --> 00:02:20,200 And I'm curious, how has everybody 2024 been so far? 30 00:02:20,200 --> 00:02:22,480 How's your 2024 been? 31 00:02:22,480 --> 00:02:26,880 Have you guys kept up with your resolutions and the goals you set out to achieve this 32 00:02:26,880 --> 00:02:27,880 year? 33 00:02:27,880 --> 00:02:34,320 Do you feel like your own track to achieve your goals or do you sort of feel like you 34 00:02:34,320 --> 00:02:36,720 have some catching up to do? 35 00:02:36,720 --> 00:02:42,080 Well, if your own track, I think that's awesome and I salute you. 36 00:02:42,080 --> 00:02:46,240 And I definitely would encourage you to keep the momentum going. 37 00:02:46,240 --> 00:02:51,080 And for those of you that feel maybe like you're falling behind and you haven't made 38 00:02:51,080 --> 00:02:56,200 the progress you would have liked to have made by now at this point in the year, I 39 00:02:56,200 --> 00:03:02,320 want to encourage you as well, because we're still relatively early into the year. 40 00:03:02,320 --> 00:03:06,120 We're not even midway through the second quarter. 41 00:03:06,120 --> 00:03:12,160 So there's plenty of opportunity and time to knock out your goals for 2024. 42 00:03:12,160 --> 00:03:14,960 So don't be discouraged. 43 00:03:14,960 --> 00:03:23,480 The first step really is deciding what you want to accomplish by the end of this year. 44 00:03:23,480 --> 00:03:30,320 Because without first knowing that you're sort of aimless, you're just living day to 45 00:03:30,320 --> 00:03:35,560 day with no real intention behind your actions. 46 00:03:35,560 --> 00:03:42,360 And from what I've learned, a goal is really nothing more than a vision for your life. 47 00:03:42,360 --> 00:03:48,120 And God himself even speaks about the importance of having a vision in his word. 48 00:03:48,120 --> 00:03:54,840 Proverbs 29, verse 18, it says, where there is no vision, the people perish. 49 00:03:54,840 --> 00:03:56,920 I know you've heard that scripture before. 50 00:03:56,920 --> 00:04:03,240 The second part of that scripture says, but he that keepeth the law happy is he. 51 00:04:03,240 --> 00:04:08,240 So in this instance, think of the law as whatever your goal is. 52 00:04:08,240 --> 00:04:09,520 Okay. 53 00:04:09,520 --> 00:04:15,720 So once you have your goal and you know what it is that you want, you can then work to 54 00:04:15,720 --> 00:04:18,320 quantify that goal. 55 00:04:18,320 --> 00:04:24,160 So if your goal is to lose weight, well, okay, how much weight do you want to lose by the 56 00:04:24,160 --> 00:04:25,160 end of the year? 57 00:04:25,160 --> 00:04:29,000 How do you want your body to look at the end of the year? 58 00:04:29,000 --> 00:04:30,120 Quantify it. 59 00:04:30,120 --> 00:04:34,320 If your goal is to save money, how much money do you want to have saved by the end of the 60 00:04:34,320 --> 00:04:35,720 year? 61 00:04:35,720 --> 00:04:40,040 You know, you know, one of mine is paying off debt. 62 00:04:40,040 --> 00:04:44,240 If your goal is to pay off debt, what debt do you want to have paid off or how much 63 00:04:44,240 --> 00:04:48,400 on that debt do you want to have paid off by December 31st? 64 00:04:48,400 --> 00:04:53,120 So you always want to quantify whatever your goal is. 65 00:04:53,120 --> 00:04:58,720 And then lastly, you want to figure out how you're going to achieve these goals. 66 00:04:58,720 --> 00:05:05,000 And really, this is where you devise sort of a detailed plan on how you're going to 67 00:05:05,000 --> 00:05:12,120 execute this and get from point A, which is where you are today to point C, where you 68 00:05:12,120 --> 00:05:14,720 like to be by the end of the year. 69 00:05:14,720 --> 00:05:21,920 And if you remember, remember from our last episode, I'm not really an advocate of having 70 00:05:21,920 --> 00:05:26,400 this long laundry list of goals for the year. 71 00:05:26,400 --> 00:05:30,920 From my experience, that's not quite the best approach. 72 00:05:30,920 --> 00:05:37,120 And you know, I'm someone who I used to, every December, I used to make a list of anywhere 73 00:05:37,120 --> 00:05:43,000 between 10 to 20 goals that I wanted to accomplish by the end of the year. 74 00:05:43,000 --> 00:05:48,200 And I mean, not little stuff, stuff from, you know, like publishing a book, starting 75 00:05:48,200 --> 00:05:55,200 another business, buying investment properties or paying off my student loans, which are 76 00:05:55,200 --> 00:05:57,360 significant. 77 00:05:57,360 --> 00:06:00,800 And I mean, don't get me wrong, I would accomplish a few. 78 00:06:00,800 --> 00:06:08,240 But because I had such an exhaustive list of goals, I would end up sort of feeling like 79 00:06:08,240 --> 00:06:15,640 a failure because I only accomplished maybe, what, two, three out of 10 or 15 goals. 80 00:06:15,640 --> 00:06:23,760 So instead of feeling energized and grateful for having published that book or starting 81 00:06:23,760 --> 00:06:28,600 that business, I would instead feel like kind of deflated. 82 00:06:28,600 --> 00:06:34,680 Like, yeah, that's great, but I really should have done so much more. 83 00:06:34,680 --> 00:06:41,120 And then, you know, on top of that, I was so mentally fatigued from overexertion and 84 00:06:41,120 --> 00:06:47,880 trying to come, you know, accomplish and knock out 20 goals in 12 months. 85 00:06:47,880 --> 00:06:49,480 That simply cannot be done. 86 00:06:49,480 --> 00:06:51,080 So don't even do that to yourself. 87 00:06:51,080 --> 00:06:55,640 There's no way you're going to accomplish 20 different goals in 12 months. 88 00:06:55,640 --> 00:07:03,320 So from my experience, just stick to one or two, no more than three goals for the year. 89 00:07:03,320 --> 00:07:10,640 Make sure you quantify them and then develop a action plan that you implement daily. 90 00:07:10,640 --> 00:07:13,800 And if you do that, you'll be just fine. 91 00:07:13,800 --> 00:07:18,080 The last two things I want to touch on about goals sitting before I move on to the next 92 00:07:18,080 --> 00:07:20,400 topic. 93 00:07:20,400 --> 00:07:22,760 Please write down your goals. 94 00:07:22,760 --> 00:07:23,760 Okay. 95 00:07:23,760 --> 00:07:26,400 Never just have them in your head. 96 00:07:26,400 --> 00:07:28,280 I used to do that too. 97 00:07:28,280 --> 00:07:32,360 You need to actually put your goals down on paper. 98 00:07:32,360 --> 00:07:37,240 Remember how the Bible says, write the vision. 99 00:07:37,240 --> 00:07:42,240 Keep a list of your goals by your bed or keep it someplace handy where you can look at it 100 00:07:42,240 --> 00:07:43,240 every day. 101 00:07:43,240 --> 00:07:47,800 I like to read and meditate over my goals every night before I go to bed. 102 00:07:47,800 --> 00:07:54,480 I like to, and I don't do this often enough, I like to schedule time just to sit and visualize 103 00:07:54,480 --> 00:07:58,680 myself achieving my goals, daydream about them. 104 00:07:58,680 --> 00:08:03,600 How will I feel once I attain these goals? 105 00:08:03,600 --> 00:08:08,880 You know, it may not sound silly to you, but some people, I know to me it used to sound 106 00:08:08,880 --> 00:08:09,880 silly. 107 00:08:09,880 --> 00:08:10,880 Oh, sitting, visualizing. 108 00:08:10,880 --> 00:08:14,280 Yeah, but it works. 109 00:08:14,280 --> 00:08:17,840 So if you do this, I promise you your goals will come to pass. 110 00:08:17,840 --> 00:08:23,280 I'm just telling you from experience, I know that this works. 111 00:08:23,280 --> 00:08:29,800 Last thing I want to say, keep your goals to yourself. 112 00:08:29,800 --> 00:08:35,320 I know it may be tempting to share your plans with other people, you know, because you're 113 00:08:35,320 --> 00:08:42,960 excited and you're seeking encouragement and validation from people, but keep your goals 114 00:08:42,960 --> 00:08:44,960 private. 115 00:08:44,960 --> 00:08:48,480 People can't destroy what they don't know about. 116 00:08:48,480 --> 00:08:55,280 You'd be surprised, maybe you wouldn't, but you'd be surprised at how some of our so-called 117 00:08:55,280 --> 00:09:05,360 friends and family can, uh, willingly or unwittingly, infect our dreams and our goals with doubt, 118 00:09:05,360 --> 00:09:08,160 fear, and negativity. 119 00:09:08,160 --> 00:09:16,000 Um, doubt can sound something like this. 120 00:09:16,000 --> 00:09:22,840 Maybe you should try to focus on buying one investment property instead of three. 121 00:09:22,840 --> 00:09:25,280 You see kind of what they just did. 122 00:09:25,280 --> 00:09:31,200 If your goal was to get three investment properties for the, for the year, you know, whether or 123 00:09:31,200 --> 00:09:37,600 not they intended to or not, they've kind of sewn this small seed of doubt in your ability 124 00:09:37,600 --> 00:09:41,280 to acquire those three investment properties in one year. 125 00:09:41,280 --> 00:09:45,880 If the Lord put it in your spirit and in your heart to go after three, then you need to 126 00:09:45,880 --> 00:09:48,400 go after three. 127 00:09:48,400 --> 00:09:53,680 Um, it would be, you know, something different if that same friend or family member says 128 00:09:53,680 --> 00:09:57,600 something like, you know what, I think you're thinking too small. 129 00:09:57,600 --> 00:10:01,400 I see you getting six properties this year. 130 00:10:01,400 --> 00:10:07,400 You see that sort of thinking, it doesn't sew doubt in your ability to achieve your 131 00:10:07,400 --> 00:10:08,400 goal. 132 00:10:08,400 --> 00:10:13,480 You know, if, if anything, it expanded your belief in what's possible. 133 00:10:13,480 --> 00:10:17,880 You might be thinking after they said that, wow, you know what, maybe I am thinking a 134 00:10:17,880 --> 00:10:19,560 little too small. 135 00:10:19,560 --> 00:10:22,440 Maybe I can get six properties or more this year. 136 00:10:22,440 --> 00:10:26,200 So that's the type of stuff you want to hear from people. 137 00:10:26,200 --> 00:10:29,480 If you do share your goals with them. 138 00:10:29,480 --> 00:10:34,640 Um, another goal killer is fear. 139 00:10:34,640 --> 00:10:39,720 And I'll give you an example of, of, of how that sounds. 140 00:10:39,720 --> 00:10:41,720 And we've all heard something like this before. 141 00:10:41,720 --> 00:10:47,760 Uh, you need to be careful with these, uh, with all this fasting you're doing and going 142 00:10:47,760 --> 00:10:49,400 on all these diets. 143 00:10:49,400 --> 00:10:54,160 Um, I heard where a lot of people been getting sick and almost died from doing all these 144 00:10:54,160 --> 00:10:55,160 diets and stuff. 145 00:10:55,160 --> 00:10:57,280 So you need to be careful. 146 00:10:57,280 --> 00:11:01,480 You know, it is like, you're not five. 147 00:11:01,480 --> 00:11:09,200 Would you rather that I fall out from being mortally obese or fall out from diabetes? 148 00:11:09,200 --> 00:11:13,400 You know, that's nothing but fear mongering. 149 00:11:13,400 --> 00:11:18,240 And it's very common in, in black folks, I'm not going to pick on my people, but it's 150 00:11:18,240 --> 00:11:22,480 very common in my community, especially when you're trying to do something that's outside 151 00:11:22,480 --> 00:11:25,920 of the norm or something different. 152 00:11:25,920 --> 00:11:28,560 You're going to get that kind of stuff. 153 00:11:28,560 --> 00:11:37,440 And the most common and annoying goal killer that, that I know of is just sheer negativity. 154 00:11:37,440 --> 00:11:42,920 And um, negativity can sound something like this. 155 00:11:42,920 --> 00:11:46,880 You're always wasting your money on these online seminars and courses. 156 00:11:46,880 --> 00:11:48,880 Are you people wanted your money? 157 00:11:48,880 --> 00:11:53,040 That stuff ain't nothing but a scam. 158 00:11:53,040 --> 00:11:55,120 Let me tell you something. 159 00:11:55,120 --> 00:12:03,400 The best money that you can spend is in making an investment in yourself and feeling your 160 00:12:03,400 --> 00:12:04,400 mind with knowledge. 161 00:12:04,400 --> 00:12:11,240 I don't care if it's a seminar, a book, an online course, it don't matter. 162 00:12:11,240 --> 00:12:14,840 It is giving you a new skill set. 163 00:12:14,840 --> 00:12:19,640 If it's teaching you something different that you didn't know before, something that you 164 00:12:19,640 --> 00:12:25,240 can leverage to earn more money and, um, you know, live a better quality life, then it's 165 00:12:25,240 --> 00:12:26,480 well worth it. 166 00:12:26,480 --> 00:12:33,360 So don't let anybody discourage you from bettering yourself or learning something new. 167 00:12:33,360 --> 00:12:36,680 Get out there, experiment and just try. 168 00:12:36,680 --> 00:12:41,880 If you try and feel, oh well, but you know, that's better than just not trying anything 169 00:12:41,880 --> 00:12:45,880 at all or acquiescing to fear. 170 00:12:45,880 --> 00:12:50,680 Um, and there's another thing I want to say about that. 171 00:12:50,680 --> 00:12:57,480 There aren't many people in this world, not these days anyway, who are willing to give 172 00:12:57,480 --> 00:13:00,360 it, just give away knowledge for free. 173 00:13:00,360 --> 00:13:01,860 Very few. 174 00:13:01,860 --> 00:13:08,280 So if you run across somebody that's willing to do that, be appreciative of it. 175 00:13:08,280 --> 00:13:12,600 You know, everybody's trying to monetize their expertise these days. 176 00:13:12,600 --> 00:13:20,120 And rightfully so, if you have a skill set that, um, can help others or can help people 177 00:13:20,120 --> 00:13:27,120 earn extra money, then you kind of have a responsibility to share that and to financially 178 00:13:27,120 --> 00:13:32,880 uplift yourself by, um, sharing that in a course or on YouTube or something that you 179 00:13:32,880 --> 00:13:33,880 can monetize. 180 00:13:33,880 --> 00:13:36,040 There's nothing wrong with giving away for free. 181 00:13:36,040 --> 00:13:38,200 I know a lot of people do that. 182 00:13:38,200 --> 00:13:43,200 Um, but those people nine times out of 10, they've made their millions. 183 00:13:43,200 --> 00:13:44,760 They've made their money. 184 00:13:44,760 --> 00:13:51,200 You know, um, at some point, if you're not overcome by just sheer greed, which can certainly 185 00:13:51,200 --> 00:13:57,280 happen to people, then, you know, you're going to try to seek to give back, share knowledge 186 00:13:57,280 --> 00:14:03,040 or just otherwise find a way to impact the world in a positive way. 187 00:14:03,040 --> 00:14:12,040 You know, so keep your goals private, be clear of people with doubtful, fearful or negative 188 00:14:12,040 --> 00:14:15,680 mindset is not going to be a good thing for you. 189 00:14:15,680 --> 00:14:18,760 So anyway, I'll move on. 190 00:14:18,760 --> 00:14:24,800 At the end of our last show, I touched on, um, this book that I was reading called a 191 00:14:24,800 --> 00:14:27,000 psychology of money. 192 00:14:27,000 --> 00:14:30,120 The author's name is Morgan Howsell. 193 00:14:30,120 --> 00:14:33,160 And I said that we talked about it on the next episode. 194 00:14:33,160 --> 00:14:38,400 I'm not going to spoil it for anybody who liked to, you know, go on Amazon, buy it and 195 00:14:38,400 --> 00:14:39,400 read it on their own. 196 00:14:39,400 --> 00:14:44,880 Uh, so I'm not going to do like a full book review, but I will share, uh, just a few of 197 00:14:44,880 --> 00:14:46,920 the takeaways that I took from it. 198 00:14:46,920 --> 00:14:50,200 Um, that I feel a note worthy. 199 00:14:50,200 --> 00:14:57,800 So I came across this book through a guest, uh, at one of my Airbnb properties. 200 00:14:57,800 --> 00:15:01,960 Um, he was gracious enough to let me borrow it. 201 00:15:01,960 --> 00:15:10,040 And ironically, I'm at this place in my life now where I'm very hyper vigilant about my 202 00:15:10,040 --> 00:15:18,600 money and how it's being spent, um, how it's being saved, how it's being, uh, invested, 203 00:15:18,600 --> 00:15:21,120 how it's being leveraged. 204 00:15:21,120 --> 00:15:29,120 So I feel like the timing of when I discovered this book was really interesting. 205 00:15:29,120 --> 00:15:33,680 And I'll explain a little further into the show what happened recently to cause this, 206 00:15:33,680 --> 00:15:38,160 this hyper vigilance where my finances are concerned. 207 00:15:38,160 --> 00:15:44,640 But one of the first things that I appreciate about this book is that it's fairly easy to 208 00:15:44,640 --> 00:15:45,640 read. 209 00:15:45,640 --> 00:15:53,160 Um, it does contain some financial terminology, uh, but it's nothing advanced that like a lay 210 00:15:53,160 --> 00:15:55,000 person wouldn't understand. 211 00:15:55,000 --> 00:15:58,360 So it's, it's pretty easy to follow. 212 00:15:58,360 --> 00:16:02,200 And I also appreciate that the chapters aren't super long. 213 00:16:02,200 --> 00:16:04,600 Um, they're pretty much condensed. 214 00:16:04,600 --> 00:16:11,360 So for someone like myself who is very easily distracted, I think I might have adult ADHD 215 00:16:11,360 --> 00:16:13,080 or something like that. 216 00:16:13,080 --> 00:16:18,480 But for someone like me, it's nice to be able to cover a chapter or two in just a few minutes 217 00:16:18,480 --> 00:16:24,720 without, you know, my mind wandering or, you know, thinking about something completely 218 00:16:24,720 --> 00:16:26,560 different than what I'm reading. 219 00:16:26,560 --> 00:16:29,600 So I definitely, you know, can appreciate that. 220 00:16:29,600 --> 00:16:41,560 Um, so largely this book is like a collection of various anecdotes and stories about prominent 221 00:16:41,560 --> 00:16:49,200 figures in the financial world, um, who've made some great and some not so great decisions, 222 00:16:49,200 --> 00:16:54,120 uh, particularly as it relates to business and finance. 223 00:16:54,120 --> 00:16:59,880 And most of the people mentioned in this book are famous. 224 00:16:59,880 --> 00:17:04,280 Some are infamous and you know, you'll recognize their name straight away. 225 00:17:04,280 --> 00:17:06,640 People like, um, Bernie Madoff. 226 00:17:06,640 --> 00:17:12,160 We all remember that name, uh, Bill Gates, Warren Buffett. 227 00:17:12,160 --> 00:17:14,520 So it includes stories like that. 228 00:17:14,520 --> 00:17:21,400 Um, and there are even some like lesser known, but prominent figures in the financial world 229 00:17:21,400 --> 00:17:27,840 that insiders know of, but you know, like everyday people, you're not going to know their names. 230 00:17:27,840 --> 00:17:35,720 But I believe the author's objective with this book was not to just revisit history by 231 00:17:35,720 --> 00:17:37,840 telling various stories. 232 00:17:37,840 --> 00:17:46,800 Um, but he sort of wanted to use these historical facts and data from pivotal moments in our 233 00:17:46,800 --> 00:17:56,320 country's economy to examine the overall psychology behind behaviors and decisions and, um, the 234 00:17:56,320 --> 00:18:02,760 evolution of thought regarding money and how we as individuals choose to spend it. 235 00:18:02,760 --> 00:18:10,400 So the first thing that I want to note here was he talked about the importance of behavior. 236 00:18:10,400 --> 00:18:18,080 And so the author emphasizes that success with money is not necessarily about always 237 00:18:18,080 --> 00:18:23,520 making the smartest investment decisions, but instead it's about managing your behavior 238 00:18:23,520 --> 00:18:26,720 and your emotions effectively. 239 00:18:26,720 --> 00:18:29,920 And I found this to be so, so, so, so true. 240 00:18:29,920 --> 00:18:37,880 Um, recently I had to come to terms with my own behavior and emotional reactions when it 241 00:18:37,880 --> 00:18:40,120 comes to money. 242 00:18:40,120 --> 00:18:45,160 And what I'm going to share is that, you know, some of this is embarrassing for me to admit, 243 00:18:45,160 --> 00:18:51,040 uh, with my level of education and I've even worked in own businesses in the financial 244 00:18:51,040 --> 00:18:52,040 sector. 245 00:18:52,040 --> 00:18:55,320 So if anyone should know better, it's me. 246 00:18:55,320 --> 00:19:04,240 But if I have to use myself as an example to help others or prevent them from making 247 00:19:04,240 --> 00:19:07,480 some of the same mistakes that I made, then I'll do that. 248 00:19:07,480 --> 00:19:08,480 So be it. 249 00:19:08,480 --> 00:19:19,440 Um, listen, so okay, I do pretty well for myself financially, praise Jehovah, but even 250 00:19:19,440 --> 00:19:27,560 I have made my share of financial blunders that I've had to work over the years to overcome. 251 00:19:27,560 --> 00:19:38,360 Um, but I noticed fairly recently, um, that even though I do well financially, I was giving 252 00:19:38,360 --> 00:19:41,600 away a lot of my money. 253 00:19:41,600 --> 00:19:46,440 It took my, it took my accountant telling me, and this was fairly recently it took my 254 00:19:46,440 --> 00:19:56,160 accountant telling me that he was concerned about my level of spending the past year. 255 00:19:56,160 --> 00:20:05,320 And when he said that I remember I got a little bit defensive, you know, because I was like, 256 00:20:05,320 --> 00:20:08,120 what are you talking about? 257 00:20:08,120 --> 00:20:09,720 I don't go anywhere. 258 00:20:09,720 --> 00:20:11,760 I don't do anything. 259 00:20:11,760 --> 00:20:21,320 I rarely take vacations, um, all the, I just feel like all the money I do spend it benefits 260 00:20:21,320 --> 00:20:25,000 other people, you know, more so than myself. 261 00:20:25,000 --> 00:20:29,400 And then that's when he was like, that's exactly what I'm talking about. 262 00:20:29,400 --> 00:20:32,800 That's your problem. 263 00:20:32,800 --> 00:20:40,880 He went on to say, you know, I'm concerned about the amount of cash app and wire transactions 264 00:20:40,880 --> 00:20:42,480 from your account. 265 00:20:42,480 --> 00:20:45,360 What is all of this for? 266 00:20:45,360 --> 00:20:52,160 And I was like, well, normally, you know, anytime I use cash out is to send money to 267 00:20:52,160 --> 00:20:53,160 people. 268 00:20:53,160 --> 00:21:00,560 And he was like, well, are these loans or any of these people paying you back? 269 00:21:00,560 --> 00:21:06,000 Because I see a lot of outgoing transactions and I'm not seeing many incoming transactions. 270 00:21:06,000 --> 00:21:13,760 And I'm not used to having people check me on my finances or anything like that. 271 00:21:13,760 --> 00:21:17,160 Um, but anyway, I took his advice. 272 00:21:17,160 --> 00:21:23,920 I went back and I looked at my cash app transactions for just the past 12 months. 273 00:21:23,920 --> 00:21:31,040 And I was astonished at how much money I was just giving away. 274 00:21:31,040 --> 00:21:35,840 Um, it was 501 months. 275 00:21:35,840 --> 00:21:39,080 $250 the next month. 276 00:21:39,080 --> 00:21:49,560 Some months I saw 1200, 2000 in some cases, just ridiculous amounts of money given away. 277 00:21:49,560 --> 00:21:54,360 And it's embarrassing to admit that, but I just wasn't keeping track of it. 278 00:21:54,360 --> 00:21:56,440 I wasn't keeping track of it at all. 279 00:21:56,440 --> 00:21:59,000 I was overseas most of the time. 280 00:21:59,000 --> 00:22:04,040 Um, so, you know, when you're overseas, you don't have any bills. 281 00:22:04,040 --> 00:22:07,440 Before I left for Sally the first time I sold my car. 282 00:22:07,440 --> 00:22:12,720 Um, you know, I had this, uh, M M five BMW. 283 00:22:12,720 --> 00:22:13,720 I love that car. 284 00:22:13,720 --> 00:22:16,400 It's one of those cars that can't sit. 285 00:22:16,400 --> 00:22:19,960 If you let it sit for a year, I knew I was going to be gone for at least a year. 286 00:22:19,960 --> 00:22:23,280 If you let it sit, um, you are ruining that car. 287 00:22:23,280 --> 00:22:25,680 That car meant to be driven and driven hard. 288 00:22:25,680 --> 00:22:34,200 So thankfully, uh, and some of you know this, I, uh, came across a BMW M five enthusiasts, 289 00:22:34,200 --> 00:22:38,240 um, who asked about what I'd sell him my car. 290 00:22:38,240 --> 00:22:41,480 And he's, he's asked about my car like three or four times in the past. 291 00:22:41,480 --> 00:22:44,560 I'm like, no, no, I'm not selling my car. 292 00:22:44,560 --> 00:22:49,200 And he happened to catch me about three months before I left Sally the first time. 293 00:22:49,200 --> 00:22:53,280 And, um, and I was like, you know what, it's just going to sit here. 294 00:22:53,280 --> 00:22:56,920 I'm probably not to do tons of maintenance on it by letting it sit for a year. 295 00:22:56,920 --> 00:22:59,600 So he just caught me at the right time and I sold it to him. 296 00:22:59,600 --> 00:23:03,120 So, but yeah, to my earlier point, when you're overseas, you don't really, you don't have 297 00:23:03,120 --> 00:23:05,240 any rent for pay. 298 00:23:05,240 --> 00:23:07,280 Um, I had tenants in my home. 299 00:23:07,280 --> 00:23:08,640 So I was not paying mortgage. 300 00:23:08,640 --> 00:23:09,640 They were paying it. 301 00:23:09,640 --> 00:23:14,960 Um, you don't pay for food unless you just want something extravagant or something. 302 00:23:14,960 --> 00:23:17,920 Um, so you're just very spoiled when you're overseas. 303 00:23:17,920 --> 00:23:22,200 So I was just accustomed to not having any bills not paying for anything. 304 00:23:22,200 --> 00:23:23,600 Just spoiled. 305 00:23:23,600 --> 00:23:30,280 So yeah, I was just giving ridiculous amounts of money away and wasn't keeping any track 306 00:23:30,280 --> 00:23:31,280 of it. 307 00:23:31,280 --> 00:23:33,720 You know, someone asked me for help. 308 00:23:33,720 --> 00:23:40,520 I, I kind of feel obligated because I had it to give and you know, it could easily be 309 00:23:40,520 --> 00:23:44,280 me, you know, the tables were turned if I needed help. 310 00:23:44,280 --> 00:23:49,120 Um, so a lot of times people wouldn't even ask. 311 00:23:49,120 --> 00:23:55,760 I would just voluntarily send them money because I, you know, caught wind that they were struggling 312 00:23:55,760 --> 00:24:00,760 or you know, hurt through the great fun that they had fallen on for a time. 313 00:24:00,760 --> 00:24:04,440 You know how people can like lose their job or get sick or something like that. 314 00:24:04,440 --> 00:24:09,040 And, uh, you kind of hear some of that stuff through gossip channels and you know, if I'm 315 00:24:09,040 --> 00:24:11,880 the type of person, I'm not the type of person that's going to hear something like that and 316 00:24:11,880 --> 00:24:13,960 not try to do something to help. 317 00:24:13,960 --> 00:24:15,960 You don't always have to ask. 318 00:24:15,960 --> 00:24:24,160 Um, so I just kind of took it upon myself to be this savior for people. 319 00:24:24,160 --> 00:24:34,120 Um, because I, I distorted and took out of context that scripture that says, um, for unto 320 00:24:34,120 --> 00:24:41,200 whom so ever much is given of him shall much be required and to whom men have committed 321 00:24:41,200 --> 00:24:42,200 much of him. 322 00:24:42,200 --> 00:24:46,400 And they will ask the more that's in the 12 somewhere. 323 00:24:46,400 --> 00:24:52,280 There's another scripture that I grew up with that says, uh, uh, withhold not good from 324 00:24:52,280 --> 00:24:57,040 them to whom it is due when it's in the power of dying hand to do it. 325 00:24:57,040 --> 00:25:03,520 Um, what's the other say, say not unto thy neighbor, go and come again and tomorrow I 326 00:25:03,520 --> 00:25:06,280 will give when thou has it by be. 327 00:25:06,280 --> 00:25:07,280 Um, that's improper. 328 00:25:07,280 --> 00:25:09,760 I don't know the exact scripture. 329 00:25:09,760 --> 00:25:15,600 You know, so these are scriptures that I've taken the heart. 330 00:25:15,600 --> 00:25:18,120 Um, I grew up in the kingdom hall. 331 00:25:18,120 --> 00:25:24,960 Um, I grew up reading these scriptures and plus I have a very generous heart anyway. 332 00:25:24,960 --> 00:25:29,360 I get it from my parents, especially my mom. 333 00:25:29,360 --> 00:25:34,400 My mom was someone she would give you the last of what she had. 334 00:25:34,400 --> 00:25:39,720 Um, if you were in need, especially if it was her children or anyone in her family. 335 00:25:39,720 --> 00:25:45,360 You know, so those are the type of values I grew up with. 336 00:25:45,360 --> 00:25:49,600 Uh, my parents were kind hearted, generous people. 337 00:25:49,600 --> 00:25:55,840 Um, if they could help you, they'd help you, you know, even if it was to their detriment 338 00:25:55,840 --> 00:25:57,960 in some cases. 339 00:25:57,960 --> 00:26:04,480 But yeah, my accountant was like, you know, I understand helping others, but you really 340 00:26:04,480 --> 00:26:10,480 need to sit minutes on your charitable activity, um, because I'm concerned that you're not 341 00:26:10,480 --> 00:26:12,760 getting paid this money back. 342 00:26:12,760 --> 00:26:19,400 Um, you know, money that could otherwise go to savings or paying down your student loans. 343 00:26:19,400 --> 00:26:22,760 And you know, he was, he was absolutely right. 344 00:26:22,760 --> 00:26:29,280 And mind you, on top of this money that I would be given away, I was also paying ties. 345 00:26:29,280 --> 00:26:33,360 Um, I stopped paying ties recently, but maybe I'll get into that later. 346 00:26:33,360 --> 00:26:37,560 I'm just not sure what all these churches and people are doing with this money. 347 00:26:37,560 --> 00:26:49,640 Um, I just don't, uh, I've been holding back on my tithing and offerings, um, until I find 348 00:26:49,640 --> 00:26:51,480 a different avenue for the money. 349 00:26:51,480 --> 00:26:57,640 I think there, there are other ways to help people versus giving your money to the churches 350 00:26:57,640 --> 00:26:59,520 and the wash tower and Bible and tract societies. 351 00:26:59,520 --> 00:27:05,840 One thing I can say about the wash tower Bible and tract society is that they do, I don't 352 00:27:05,840 --> 00:27:08,040 know exactly what all goes into that money. 353 00:27:08,040 --> 00:27:11,880 I don't know how much of it goes to administrative costs and stuff like that, but the kingdom 354 00:27:11,880 --> 00:27:15,000 hall has always done a good job of outreach. 355 00:27:15,000 --> 00:27:20,560 I know a lot of that money goes into printing publications and various languages, um, to 356 00:27:20,560 --> 00:27:25,360 help, you know, um, further the word of God. 357 00:27:25,360 --> 00:27:30,080 Um, so I don't feel like the money is being with us, but at the end of the day, I don't 358 00:27:30,080 --> 00:27:33,440 know exactly what my money is being used for. 359 00:27:33,440 --> 00:27:40,200 Um, so I just kind of heel back on that and I've been kind of tithing in other ways. 360 00:27:40,200 --> 00:27:46,840 So, um, but anyway, back to my point, my, my, my accountant was, was absolutely right. 361 00:27:46,840 --> 00:27:55,320 And to the author of this book, to his point, my behavior when it came to money was emotional. 362 00:27:55,320 --> 00:28:04,360 It was emotional and it wasn't tempered by sound judgment or discipline. 363 00:28:04,360 --> 00:28:08,520 And remember in the last episode, I talked about the importance of going to therapy, 364 00:28:08,520 --> 00:28:14,440 getting some type of counseling or coaching and something that my therapy therapy helped 365 00:28:14,440 --> 00:28:21,880 me to understand and realize is that I was giving away money. 366 00:28:21,880 --> 00:28:29,600 I was a survivor's guilt, you know, a part of me felt guilty for my success. 367 00:28:29,600 --> 00:28:36,240 Um, knowing that others in my family or inner circle weren't doing as well or had achieved 368 00:28:36,240 --> 00:28:38,920 a level of success that I had. 369 00:28:38,920 --> 00:28:43,880 Um, you know, regardless of the fact that they had the same opportunity I had or, you 370 00:28:43,880 --> 00:28:47,000 know, even more so to succeed. 371 00:28:47,000 --> 00:28:54,840 Um, another reason I was being overly generous, it was to prove that I didn't think I was 372 00:28:54,840 --> 00:28:57,040 better than anyone else. 373 00:28:57,040 --> 00:29:02,160 You know, there's a perception among people in my circle, um, especially within my family 374 00:29:02,160 --> 00:29:10,040 that I'm this golden child who was shielded from any type of hardship, uh, and whose life 375 00:29:10,040 --> 00:29:13,640 is perfect, which is far from the case. 376 00:29:13,640 --> 00:29:18,840 But nonetheless, that's the perception that many have about me. 377 00:29:18,840 --> 00:29:25,360 And if you add the level of academic and professional success that I've earned, not 378 00:29:25,360 --> 00:29:31,840 with hand it earned, um, it only heightens that perception. 379 00:29:31,840 --> 00:29:40,960 And so over the years, I found myself sort of dimming my light and being overly modest 380 00:29:40,960 --> 00:29:46,840 to appease others or to make this point that I don't think too highly of myself. 381 00:29:46,840 --> 00:29:53,840 You know, so with all of that, I've been working to sort of modify that behavior and 382 00:29:53,840 --> 00:30:01,280 just adopt a better self image and adopt more discipline, uh, in my finances. 383 00:30:01,280 --> 00:30:06,920 But another point, um, that I took away from this book was about long term thinking. 384 00:30:06,920 --> 00:30:15,280 Um, this book highlights the significance of adopting a long term mindset when it comes 385 00:30:15,280 --> 00:30:21,000 to investments and financial planning, instead of just for, you know, focusing on short term 386 00:30:21,000 --> 00:30:22,920 stuff. 387 00:30:22,920 --> 00:30:28,520 And this goes to what I said earlier, um, about having a vision. 388 00:30:28,520 --> 00:30:36,480 We all know what our immediate expenses are, but do we give enough thought to those expenses 389 00:30:36,480 --> 00:30:40,120 that we'll incurred in the long term? 390 00:30:40,120 --> 00:30:46,040 You know, all we are approaching retirement in the next 10 to 15 years. 391 00:30:46,040 --> 00:30:53,000 If so, how much money are we going to need each month to make sure that we're comfortable? 392 00:30:53,000 --> 00:30:57,160 You know, and when you come up with that amount, make sure that you, you know, have 393 00:30:57,160 --> 00:30:59,480 we adjusted it for inflation? 394 00:30:59,480 --> 00:31:05,080 We see where inflationary pricing has impacted people all over the world. 395 00:31:05,080 --> 00:31:08,760 That's milk, just regular stuff. 396 00:31:08,760 --> 00:31:12,720 You know, we have to think about what the price of everyday goods and items that we 397 00:31:12,720 --> 00:31:18,080 consume, what the price of is going to be in 15 years down the road. 398 00:31:18,080 --> 00:31:21,080 So we have to account for things like that. 399 00:31:21,080 --> 00:31:25,720 Um, what were our medical expenses be in the future? 400 00:31:25,720 --> 00:31:30,000 You know, do we expect to be in relatively good health? 401 00:31:30,000 --> 00:31:36,840 Um, or do you think that you may need some type of assisted care? 402 00:31:36,840 --> 00:31:45,560 Um, for those of us that are in our mid 30s and mid 40s, we may have aging parents. 403 00:31:45,560 --> 00:31:49,440 What type of care will they need down the road? 404 00:31:49,440 --> 00:31:55,360 You know, some of us may need to step up and, and take the lead in caring for elderly parents 405 00:31:55,360 --> 00:31:57,120 at some point down the road. 406 00:31:57,120 --> 00:32:04,840 Um, some of us may have parents that will require some, some sort of advanced care and 407 00:32:04,840 --> 00:32:07,920 unfortunately have to be placed in a nursing home. 408 00:32:07,920 --> 00:32:12,640 That may have some financial implications in terms of, uh, how much of that may need 409 00:32:12,640 --> 00:32:14,760 to be covered by you. 410 00:32:14,760 --> 00:32:22,640 And while we're on that topic, you know, I made a promise to myself, uh, and to my parents 411 00:32:22,640 --> 00:32:26,440 that I would never put them in a nursing home. 412 00:32:26,440 --> 00:32:29,920 I'm not judging anyone who's had to make that decision. 413 00:32:29,920 --> 00:32:36,000 I'm not because there's a host of mitigating circumstances that could be at play. 414 00:32:36,000 --> 00:32:41,880 But as for myself under no circumstances, what I would have ever put my parents in a 415 00:32:41,880 --> 00:32:53,040 nursing home, um, due to some, I'll just say, extenuating circumstances, uh, and, and coupled 416 00:32:53,040 --> 00:33:00,400 with advanced care that, you know, my grandmother needed for alzheimer's and schizophrenia. 417 00:33:00,400 --> 00:33:05,200 Um, my, my grandmother had to be placed in a nursing home. 418 00:33:05,200 --> 00:33:11,760 And I saw the toll that that took on, uh, not just her, but also on my mother, who was 419 00:33:11,760 --> 00:33:20,680 her primary caregiver and had it not been for extenuating circumstances that I will 420 00:33:20,680 --> 00:33:22,760 not get into. 421 00:33:22,760 --> 00:33:26,480 My mother would have never put my grandmother in a nursing home. 422 00:33:26,480 --> 00:33:28,240 She never would have. 423 00:33:28,240 --> 00:33:35,000 And so seeing the impact that that had on my mother, I resolved at a very early age that 424 00:33:35,000 --> 00:33:38,960 a nursing home would not even be an option for my parents. 425 00:33:38,960 --> 00:33:43,720 So I don't care if I had to wipe their butts myself. 426 00:33:43,720 --> 00:33:45,760 They wiped mine first. 427 00:33:45,760 --> 00:33:51,880 So I don't care whether or not I was married or whatever the situation was, whoever my 428 00:33:51,880 --> 00:33:57,160 spouse was, we just had to understand it's not up for discussion. 429 00:33:57,160 --> 00:33:59,560 This is just what has to be done. 430 00:33:59,560 --> 00:34:04,240 And if there's something you can't handle, I'll sign divorce papers, but at the end of 431 00:34:04,240 --> 00:34:07,400 the day, I have to take care of my parents. 432 00:34:07,400 --> 00:34:11,800 But, um, as God would have it, I wouldn't be in the position to have to make that kind 433 00:34:11,800 --> 00:34:16,000 of decision, um, for my parents care. 434 00:34:16,000 --> 00:34:23,600 But nonetheless, the author's point is that these types of long term expenses should begin 435 00:34:23,600 --> 00:34:27,840 as some type of consideration, because we don't know what we're going to face down 436 00:34:27,840 --> 00:34:28,840 the road. 437 00:34:28,840 --> 00:34:33,240 And I want to say something else about this too, because it's heavy on my heart. 438 00:34:33,240 --> 00:34:42,640 If you have aging parents or parents with issues, and you've, I don't know how to quite 439 00:34:42,640 --> 00:34:47,440 approach this, but it has bothered me ever since I was a teenager, because this happened 440 00:34:47,440 --> 00:34:48,640 to my mom. 441 00:34:48,640 --> 00:34:52,600 It should not fall on one sibling. 442 00:34:52,600 --> 00:34:54,320 And y'all know where I'm going with this. 443 00:34:54,320 --> 00:35:01,040 It should not fall on one sibling to be the primary caregiver for a parent that has medical 444 00:35:01,040 --> 00:35:07,800 issues or is in advance in age or just whatever the situation is. 445 00:35:07,800 --> 00:35:10,760 It should not fall squarely on one person. 446 00:35:10,760 --> 00:35:15,400 One person may be with heavy lifting, but you shouldn't just, the other sibling shouldn't 447 00:35:15,400 --> 00:35:21,600 just allow that person to just carry that death of big burden to carry. 448 00:35:21,600 --> 00:35:23,480 And I watched my mom do that. 449 00:35:23,480 --> 00:35:28,320 At the end of the day, she did it because she honored and loved her mom, despite how 450 00:35:28,320 --> 00:35:30,240 she was treated at times. 451 00:35:30,240 --> 00:35:34,680 But if you can lift a hand to help, it may not be always financial. 452 00:35:34,680 --> 00:35:37,040 You may not be able to help financially. 453 00:35:37,040 --> 00:35:43,440 But go over the, you know, on the weekends and sit with your parent or help cook or check 454 00:35:43,440 --> 00:35:45,880 in with your spouse who's doing the heavy lifting. 455 00:35:45,880 --> 00:35:47,920 You know who they are in the family. 456 00:35:47,920 --> 00:35:50,360 Check in with them and ask them how they're doing. 457 00:35:50,360 --> 00:35:52,120 How is their mental health? 458 00:35:52,120 --> 00:35:57,280 You need me to watch mom or dad for the weekend. 459 00:35:57,280 --> 00:36:01,280 Is there anything you need? 460 00:36:01,280 --> 00:36:03,040 Sometimes take them a plate or something. 461 00:36:03,040 --> 00:36:06,320 I just don't like how a lot of people in certain families. 462 00:36:06,320 --> 00:36:07,840 Yes, I'm talking about mine. 463 00:36:07,840 --> 00:36:09,040 I'm not going to say no names. 464 00:36:09,040 --> 00:36:10,960 Y'all know who I'm talking about. 465 00:36:10,960 --> 00:36:14,120 Don't sit back and let one sibling do all the work. 466 00:36:14,120 --> 00:36:15,920 It's not fair. 467 00:36:15,920 --> 00:36:18,240 It's not fair. 468 00:36:18,240 --> 00:36:21,840 And that's all I'm going to say about that. 469 00:36:21,840 --> 00:36:29,840 Another point that the book brought out that I wanted to touch on was about risk and uncertainty. 470 00:36:29,840 --> 00:36:36,480 So the author, he discussed how to navigate inherent risk and uncertainties when you're 471 00:36:36,480 --> 00:36:40,960 investing your money, understanding your own risk tolerance. 472 00:36:40,960 --> 00:36:44,440 Everybody's risk tolerance is going to be different depending on what you've got going 473 00:36:44,440 --> 00:36:45,840 on. 474 00:36:45,840 --> 00:36:51,400 And just being prepared for stuff like market volatility and just unexpected stuff that 475 00:36:51,400 --> 00:36:58,200 you may not be having a plan in place for. 476 00:36:58,200 --> 00:37:03,480 And even if you're not actively investing in the stock market, you may have a rental 477 00:37:03,480 --> 00:37:06,400 property or something like that or some type of other investments. 478 00:37:06,400 --> 00:37:13,360 You need to think about, have you given enough consideration and made contingency plans for 479 00:37:13,360 --> 00:37:15,760 certain types of risks? 480 00:37:15,760 --> 00:37:22,720 Because I don't care what your portfolio is, stocks, rental property, gold, silver, no 481 00:37:22,720 --> 00:37:25,720 portfolio is free from risk. 482 00:37:25,720 --> 00:37:32,520 You have to think about things like what if there's another stock market crash? 483 00:37:32,520 --> 00:37:37,600 What if there's another recession? 484 00:37:37,600 --> 00:37:42,480 What if inflation goes through the roof and gas is $5,000 to $6 a gallon? 485 00:37:42,480 --> 00:37:44,480 And it's very hard to buy groceries. 486 00:37:44,480 --> 00:37:47,560 I know some people are struggling buying groceries. 487 00:37:47,560 --> 00:37:49,960 You can't get basic stuff without spending $100. 488 00:37:49,960 --> 00:37:53,040 It's like, wait, I only got five things in my car. 489 00:37:53,040 --> 00:37:55,680 What do you mean it's $60? 490 00:37:55,680 --> 00:38:00,080 So just stuff like that, you really have to take into consideration and think about, 491 00:38:00,080 --> 00:38:06,240 are you set up to financially weather some of these different storms that could happen? 492 00:38:06,240 --> 00:38:12,520 And even if you're not an investor, the same types of question applies. 493 00:38:12,520 --> 00:38:18,040 Are you financially prepared for uncertainties like losing your job? 494 00:38:18,040 --> 00:38:19,400 That's happened to me. 495 00:38:19,400 --> 00:38:24,280 It can be detrimental. 496 00:38:24,280 --> 00:38:31,960 Some type of short-term or long-term disability that keeps you from working. 497 00:38:31,960 --> 00:38:34,160 Some type of natural disaster. 498 00:38:34,160 --> 00:38:44,920 I think about that catastrophic hurricane in Puerto Rico, one in Louisiana that really 499 00:38:44,920 --> 00:38:52,320 just upended a lot of people, families, a lot of deaths, a lot of just displacement. 500 00:38:52,320 --> 00:39:00,720 You may have to unespecially take time away from work to care for a sick child or sick 501 00:39:00,720 --> 00:39:04,160 spouse, all types of stuff. 502 00:39:04,160 --> 00:39:11,160 And none of this is to instill fear or to have you excessively worried. 503 00:39:11,160 --> 00:39:14,840 But yeah, none of this is to instill fear at all. 504 00:39:14,840 --> 00:39:21,240 It's just to get you thinking about these things and preparing your contingency plan 505 00:39:21,240 --> 00:39:28,080 and make sure that you're ready yourself and your household for these types of emergencies. 506 00:39:28,080 --> 00:39:31,080 And these are uncertain times that we're living in. 507 00:39:31,080 --> 00:39:38,000 So we should do our best to make sure that we are as prepared as we can be if disaster 508 00:39:38,000 --> 00:39:40,680 happens to strike. 509 00:39:40,680 --> 00:39:44,960 The author also touched on the role of luck. 510 00:39:44,960 --> 00:39:52,360 Some of us are just lucky, the author kind of explored how luck plays its role in financial 511 00:39:52,360 --> 00:39:53,360 success. 512 00:39:53,360 --> 00:39:58,360 He emphasized the importance of acknowledging and accounting for luck when you're talking 513 00:39:58,360 --> 00:40:01,560 about these personal narratives of achievements. 514 00:40:01,560 --> 00:40:06,040 One of the examples he gave is Bill Gates. 515 00:40:06,040 --> 00:40:09,320 We all know how successful that he is. 516 00:40:09,320 --> 00:40:14,480 Well, one of the stories that he shared in this book was that Bill Gates, when he was 517 00:40:14,480 --> 00:40:21,600 a teenager, he just happened to go to a high school that was among the first to invest in 518 00:40:21,600 --> 00:40:26,160 computers and computer science. 519 00:40:26,160 --> 00:40:33,080 It was kind of a burgeoning field that was just starting, computers were just starting 520 00:40:33,080 --> 00:40:34,760 to become popular. 521 00:40:34,760 --> 00:40:38,400 And so his school kind of took one of those vocational approaches to where they're going 522 00:40:38,400 --> 00:40:43,880 to invest and expose their students to computers and computer science. 523 00:40:43,880 --> 00:40:51,320 Even if he went to a school that didn't take that stance, his trajectory would have been 524 00:40:51,320 --> 00:40:52,960 completely different. 525 00:40:52,960 --> 00:40:57,200 He was lucky and blessed to go to that particular school. 526 00:40:57,200 --> 00:41:01,440 He ended up getting very interested in computers. 527 00:41:01,440 --> 00:41:03,280 It became a passion of his. 528 00:41:03,280 --> 00:41:07,800 He started several companies, one of whom is Microsoft. 529 00:41:07,800 --> 00:41:11,760 He's one of the richest men in the world. 530 00:41:11,760 --> 00:41:13,960 So that was a lucky break. 531 00:41:13,960 --> 00:41:18,680 That was a chance break that really had nothing to do with skill, so to say. 532 00:41:18,680 --> 00:41:21,040 But it was just something that changed his trajectory. 533 00:41:21,040 --> 00:41:25,400 So when we're talking about these stories of prominent people who've done these remarkable 534 00:41:25,400 --> 00:41:33,880 things, not all the time, but sometimes luck, just sheer luck and blessings, need to be taken 535 00:41:33,880 --> 00:41:36,160 into account. 536 00:41:36,160 --> 00:41:40,120 And when people, some people, not saying Bill Gates is one of these people, but when 537 00:41:40,120 --> 00:41:44,360 some people are telling their story about how successful they are, they don't mention 538 00:41:44,360 --> 00:41:52,320 how lucky or blessed they are to be a recipient of certain situations and circumstances. 539 00:41:52,320 --> 00:41:58,640 So just take that into account as you see other people who have great success financially. 540 00:41:58,640 --> 00:42:03,480 The book also talks about savings habits. 541 00:42:03,480 --> 00:42:10,920 And it just talks about how building good saving habits is a crucial component of financial 542 00:42:10,920 --> 00:42:11,920 success and well-being. 543 00:42:11,920 --> 00:42:18,320 And it's something just simple stuff that's overlooked, like nothing beats a good old-fashioned 544 00:42:18,320 --> 00:42:20,200 savings account. 545 00:42:20,200 --> 00:42:25,440 I know there's a lot of allure with stock market and investing in this and investing 546 00:42:25,440 --> 00:42:31,360 that, but nothing beats a good old-fashioned savings account. 547 00:42:31,360 --> 00:42:36,240 Something that you don't have to worry about, market volatility and stuff like that. 548 00:42:36,240 --> 00:42:40,200 You may not be making a whole lot of money interest-wise, but at the end of the day, 549 00:42:40,200 --> 00:42:45,800 if you need your $5,000 or your $10,000, you don't have to worry about it being shrunk 550 00:42:45,800 --> 00:42:50,000 by market conditions or something like that. 551 00:42:50,000 --> 00:42:55,080 So never discount just a good old-fashioned regular savings account and make sure you're 552 00:42:55,080 --> 00:43:01,440 going to have the saving at least some of your money every week, every month, because 553 00:43:01,440 --> 00:43:02,440 every little bit counts. 554 00:43:02,440 --> 00:43:08,800 And even if you run into a small issue where you have to pay a bill that comes out of the 555 00:43:08,800 --> 00:43:13,200 blue, you can always pull money out your savings and replenish it later, but you can't beat 556 00:43:13,200 --> 00:43:15,400 a good savings. 557 00:43:15,400 --> 00:43:23,400 And just like I said before, the value of just simplistic financial advice and just keeping 558 00:43:23,400 --> 00:43:30,600 things simple and easy to understand, that's one of the key principles for long-term success. 559 00:43:30,600 --> 00:43:37,600 Save what you can, invest, spend wisely, don't be emotional when you're spending, and be 560 00:43:37,600 --> 00:43:40,280 disciplined. 561 00:43:40,280 --> 00:43:46,200 Just little changes like that can go a long way in having financial success. 562 00:43:46,200 --> 00:43:53,000 So again, this was a very insightful, very timely book for me to read at this point in 563 00:43:53,000 --> 00:43:55,000 my life in particular. 564 00:43:55,000 --> 00:44:00,000 And there's a lot in this book that I purposely didn't touch on because I really want you 565 00:44:00,000 --> 00:44:03,920 to get it and read it for yourself. 566 00:44:03,920 --> 00:44:08,600 Throughout this book, you will be exposed to a lot of history, like I said, a lot of 567 00:44:08,600 --> 00:44:15,800 personal anecdotes and stories that are meant to illustrate and bring to life important lessons 568 00:44:15,800 --> 00:44:20,920 about personal finance, money management, and decision-making. 569 00:44:20,920 --> 00:44:26,120 And again, the name of the book, in case you want to put it in your Amazon cart or your 570 00:44:26,120 --> 00:44:29,560 audible cart, is called The Psychology of Money. 571 00:44:29,560 --> 00:44:32,160 Timeless lessons on wealth, greed, and happiness. 572 00:44:32,160 --> 00:44:36,840 The author is Morgan Housel, H-O-U-F-E-L. 573 00:44:36,840 --> 00:44:41,840 And I'll make sure we put a link to it on our show's homepage. 574 00:44:41,840 --> 00:44:45,440 So on that note, I'm hearing some different beats and audio stuff. 575 00:44:45,440 --> 00:44:49,040 We're going to take a brief commercial break. 576 00:44:49,040 --> 00:44:52,800 And I think this is a great time to get that second glass of wine. 577 00:44:52,800 --> 00:44:57,440 And by the time you get back, we'll be ready for segment two of the show. 578 00:44:57,440 --> 00:45:01,840 And I'll share part two of some of the personal stories that I touched on during our last 579 00:45:01,840 --> 00:45:02,840 episode. 580 00:45:02,840 --> 00:45:07,040 So be sure to stay tuned in right here on Live with Dr. Andre Gerry. 581 00:45:07,040 --> 00:45:24,040 We'll be back in a moment. 582 00:45:24,040 --> 00:45:43,600 So on that note, I'm hearing some different beats and audio stuff. 583 00:45:43,600 --> 00:45:50,280 Hating ass niggas off my mind. I'm flying first class don't need a buddy pass just a diplomatic 584 00:45:50,620 --> 00:45:56,400 Pass or to get me through the airport. I'm chilling at the lounge. They never keep me waiting 585 00:45:56,860 --> 00:46:02,720 Keep pouring them drinks till I reach my destination. I'm going back to Saudi Saudi 586 00:46:03,240 --> 00:46:05,480 Saudi I'm going back to Saudi 587 00:46:07,280 --> 00:46:10,820 I'm going back to Saudi Saudi Saudi 588 00:46:10,820 --> 00:46:12,820 I'm going back to Saudi 589 00:46:14,540 --> 00:46:20,060 I'm going back to Saudi. It's like my second home the Arabs are exotic 590 00:46:20,060 --> 00:46:23,260 I can't leave them alone. They like the taste of chocolate 591 00:46:24,100 --> 00:46:29,060 Sexy erotic and if you like the finer things than money ain't no object 592 00:46:29,060 --> 00:46:46,860 I'm going back to Saudi Saudi Saudi. I'm going back to Saudi. I'm going back to Saudi just in the nick of time 593 00:46:46,860 --> 00:46:52,500 I'll party with the Saudis at the end of Ramadan and when they own that she sure 594 00:46:52,500 --> 00:47:00,220 Mmm, it's nice to meet you. So let's go do I think why we said Saudi champagne? I'm going back to Saudi Saudi 595 00:47:00,740 --> 00:47:03,020 Saudi I'm going back to Saudi 596 00:47:03,020 --> 00:47:07,060 I'm going back to Saudi Saudi Saudi 597 00:47:07,060 --> 00:47:14,220 I'm going back to Saudi Saudi Saudi 598 00:47:20,780 --> 00:47:26,820 If I meet a chic I may never come home just give me a week. I just might show my camel toe 599 00:47:26,820 --> 00:47:31,860 I'm going back to Saudi Saudi Saudi. I'm going back to Saudi 600 00:47:31,860 --> 00:47:39,020 I'm going back to Saudi Saudi Saudi. I'm going back to Saudi 601 00:47:43,500 --> 00:47:46,460 You're back live with dr. Andre Jerry 602 00:47:49,180 --> 00:47:56,260 Hey everybody, welcome back to live with dr. Andre Jerry, I'm your host dr. Jerry and if you're just joining us 603 00:47:56,260 --> 00:48:03,100 We've been discussing our goals for the year and talking about strategies to make sure that we achieve these goals 604 00:48:04,180 --> 00:48:09,260 We also talked about highlights from the latest book released by Morgan how's oh 605 00:48:10,140 --> 00:48:12,940 wonderful book called the psychology of money and 606 00:48:13,460 --> 00:48:17,620 I share some of my personal experiences with financial stress 607 00:48:18,260 --> 00:48:19,260 I 608 00:48:19,260 --> 00:48:25,060 Talked about understanding my own behaviors toward money and how I was able to overcome some of those challenges and 609 00:48:25,060 --> 00:48:28,380 Implement some of those teachings from the psychology of money 610 00:48:28,940 --> 00:48:32,180 now in this next segment of the show I 611 00:48:33,220 --> 00:48:37,500 Think I'll update you guys on some things that I touched on in the last episode 612 00:48:39,580 --> 00:48:45,340 So I know one of the things that I talked about was falling out with my friend's girlfriend 613 00:48:46,060 --> 00:48:49,220 so I wanted to update you guys on that and just I 614 00:48:49,220 --> 00:48:56,140 I feel like I need to do a brief recap just for those who just have no clue what I'm talking about 615 00:48:56,140 --> 00:49:00,340 So basically I feel out with my friends girlfriend 616 00:49:02,820 --> 00:49:09,940 Because I live with them both for a short time and doing during that short time we just had some friction 617 00:49:11,020 --> 00:49:14,860 I think when you it's one thing to stay with people 618 00:49:14,860 --> 00:49:20,180 For a week or maybe a week and a half two weeks 619 00:49:20,180 --> 00:49:25,620 But when you start going into two and three months think things can get kind of dicey 620 00:49:26,740 --> 00:49:32,020 And and never again will I live with a couple? I think when you live with a couple and 621 00:49:33,140 --> 00:49:37,220 You know your friends with one or both of them that can really cause some 622 00:49:39,580 --> 00:49:42,420 I don't know it's just I just wouldn't advise it 623 00:49:42,420 --> 00:49:45,380 I just would not advise it but long story short. I 624 00:49:45,980 --> 00:49:51,700 Stayed with my friend right when I came back from Saudi for a few months. I had plan on staying longer 625 00:49:52,420 --> 00:49:57,900 If the girlfriend started acting really crazy and stank and I was like look I got to get out of here 626 00:49:58,500 --> 00:50:01,620 Because I'm gonna end up cussing her out and then me and you're gonna fall out 627 00:50:01,940 --> 00:50:04,900 So that's the long the long story with that 628 00:50:05,740 --> 00:50:07,740 Things have gotten a little bit better 629 00:50:07,740 --> 00:50:14,820 At first I took the stance of you know what I'm done with her. She's toxic. I don't have time for this 630 00:50:15,780 --> 00:50:21,500 Through off my plans. I did not plan to have to go and get an apartment and all this type of stuff 631 00:50:22,660 --> 00:50:25,160 Spend money that I did not plan to spend 632 00:50:26,060 --> 00:50:29,860 It just kind of threw me off because I had we had already 633 00:50:30,660 --> 00:50:33,580 Arranged that I was gonna pretty much stay there for a year 634 00:50:33,580 --> 00:50:39,300 but when things started going awry I was like, uh-huh I gotta get out of here and 635 00:50:40,740 --> 00:50:45,220 But you know God has a way of frustrating things we make our plans 636 00:50:45,860 --> 00:50:47,020 but 637 00:50:47,020 --> 00:50:49,780 I'm the type of person that always tell Jehovah 638 00:50:50,220 --> 00:50:54,860 Not talk Jehovah. I taught in Jehovah like like he's my friend the Bible says he's our friend 639 00:50:54,860 --> 00:50:57,100 so I talked to him straight up and 640 00:50:57,620 --> 00:51:02,140 I I tell Jehovah look I invite you in every area of my life 641 00:51:02,140 --> 00:51:03,580 finances 642 00:51:03,580 --> 00:51:05,580 personal friendships 643 00:51:05,580 --> 00:51:10,300 Relationships work everything. There's no area of my life where you're not invited 644 00:51:10,300 --> 00:51:17,300 You have to invite God into your business. God is a gentleman. So he gives us free will and he's not gonna 645 00:51:17,900 --> 00:51:23,740 You know mingle in our affairs if we don't invite him. So I tell Jehovah all the time 646 00:51:23,740 --> 00:51:26,940 I'd make plans to do XYZ 647 00:51:26,940 --> 00:51:33,900 But if you need to come in and frustrate plans and change things around by all means you know all things 648 00:51:33,900 --> 00:51:36,380 I'm just dust. I'm a human. I 649 00:51:37,020 --> 00:51:41,820 Don't know the end from the beginning like you do. So I'm always inviting him to frustrate stuff 650 00:51:41,820 --> 00:51:46,620 So when stuff doesn't work out whether it's a job or relationship or property. I want it 651 00:51:46,620 --> 00:51:52,420 I don't care. I look at it as God knows best. So when you have that idea 652 00:51:52,420 --> 00:51:56,180 And that mindset you don't allow yourself to be disappointed 653 00:51:56,820 --> 00:52:01,820 Now we're humans and you know when this first stuff first happened with the girlfriend 654 00:52:03,220 --> 00:52:05,220 I was pissed 655 00:52:05,220 --> 00:52:10,700 Because I just you know part of the reason why I was staying with my friends not that I couldn't afford my own place 656 00:52:11,660 --> 00:52:14,140 He was not charging me a whole lot of money 657 00:52:14,140 --> 00:52:20,140 So I was able to invest and allocate money to different things and I just had this whole plan 658 00:52:20,140 --> 00:52:23,420 And when she started with her shit, I was like, yes, you just make me sick 659 00:52:23,820 --> 00:52:28,380 Now I got to go find an apartment. I know Stephanie is just laughing. That's my sister 660 00:52:28,380 --> 00:52:31,740 She's all I can just tell when my sister is laughing at me 661 00:52:31,740 --> 00:52:34,540 And I know she's falling on the floor now the whatever 662 00:52:35,260 --> 00:52:36,540 but 663 00:52:36,540 --> 00:52:42,380 Anyway, so my whole point with that is that things have gotten a little bit better. I made peace with it 664 00:52:42,700 --> 00:52:45,340 I don't think we'll ever be close close again 665 00:52:45,340 --> 00:52:52,140 But just recently this past weekend. I was over there. We all hung out. We did karaoke. We cook we ate 666 00:52:52,620 --> 00:52:56,300 I'm scared to eat her food because I she made a cake specifically for me 667 00:52:56,300 --> 00:52:59,340 And I don't know what she put in it and I don't know if you're trying to poison me or what 668 00:52:59,900 --> 00:53:03,660 But I I'm able to a little bit of some stuff but that cake 669 00:53:04,300 --> 00:53:08,060 To be honest with you and and and pray test if you're listening 670 00:53:08,060 --> 00:53:12,220 I didn't throw the cake away. I took it to work and the people at work ate it 671 00:53:12,220 --> 00:53:15,260 I was scared to eat it because I don't know 672 00:53:15,980 --> 00:53:20,940 I don't know if you're just pretending to be cool and I don't know. I just don't trust it 673 00:53:20,940 --> 00:53:24,780 So I I didn't eat it. So you want to get mad all over again, whatever 674 00:53:25,500 --> 00:53:30,060 Um, but yeah, so things are better. I'm making an attempt. You don't have to be nasty 675 00:53:30,460 --> 00:53:33,740 You know at the end of the day, I've been a bitch back in the day 676 00:53:34,300 --> 00:53:38,380 And you know, I don't want somebody judging me by one or two things that I've done 677 00:53:38,380 --> 00:53:44,060 So yeah, I just give people the end. You know, the the the what is it benefit of the doubt? 678 00:53:44,780 --> 00:53:46,780 um 679 00:53:47,740 --> 00:53:53,180 We probably not gonna go back to being close but I can speak I can be cordial and 680 00:53:53,980 --> 00:53:59,420 I cannot be an asshole when I'm over there because at first I would go back over to my friend's house 681 00:53:59,420 --> 00:54:03,340 And I would just act like she wasn't there and that's not nice either 682 00:54:03,340 --> 00:54:08,380 You know, you can at least speak the woman do live in the house. Um 683 00:54:09,980 --> 00:54:13,260 So, you know, that's just what it is. So things are better on that front 684 00:54:13,980 --> 00:54:20,540 I don't have time to go into a whole lot of other stuff. Like I thought I was going to we're at the top of the hour 685 00:54:20,860 --> 00:54:25,980 I don't know how I talk so much in the first segment. I thought I was at maybe 20 or 30 minutes, but 686 00:54:27,500 --> 00:54:31,020 I looked at it and it was almost 50 minutes into the hour. I was like Jesus 687 00:54:31,020 --> 00:54:35,420 But hey, I hope you gleaned something from from that 688 00:54:36,060 --> 00:54:39,020 Um, and I know it was a long segment about that book, but 689 00:54:39,580 --> 00:54:43,180 Um, that book really did change a lot about how I approach 690 00:54:43,820 --> 00:54:50,380 Money and how I behave with money. So I hope you took a little bit from that and make some changes on your own 691 00:54:51,180 --> 00:54:57,180 Um, I think the other stuff that I wanted to talk about because we're so close to the hour and there's a show following mine 692 00:54:57,180 --> 00:54:59,980 I'm gonna uh, kind of sort of wrap it up 693 00:54:59,980 --> 00:55:03,420 Wrap it up, but uh, let's do this again next month 694 00:55:04,140 --> 00:55:08,700 Um, I want to thank all of you for tuning in with me this hour. I hope you had a good time 695 00:55:08,700 --> 00:55:10,700 I hope you enjoyed the conversation 696 00:55:10,700 --> 00:55:14,700 I want to give a special shout out to my friends overseas who stayed up 697 00:55:15,260 --> 00:55:20,460 Extra late to catch the live version of this show. Um, it'll be posted 698 00:55:20,940 --> 00:55:24,220 Uh, maybe in the next 24 to 48 hours 699 00:55:24,300 --> 00:55:27,260 So you can always catch the playback if you missed any of this 700 00:55:27,260 --> 00:55:32,380 But I want to say good luck to all of you in pursuing your goals for the year 701 00:55:32,860 --> 00:55:36,700 And establishing better habits and behavior when it comes to money 702 00:55:37,340 --> 00:55:45,020 It's a work in progress for a lot of us. So don't feel alone. Don't feel discouraged. Okay. You got this 703 00:55:45,900 --> 00:55:51,420 Um, be sure to join us for our next live broadcast of live with dr. Andre Jerry 704 00:55:51,420 --> 00:55:57,180 Um, it's gonna air on wednesday may 22nd at 8 p.m. Eastern 705 00:55:57,180 --> 00:56:23,180 So guys until then god bless you and be safe and good night everybody 706 00:56:27,180 --> 00:56:29,180 Yeah