Does Getting Married Help You Earn More Money? Earn Your Leisure's Troy and Rashad on the Marital Minimum Wage, Tariffs, Financial Trauma and "F U Numbers"

24:28I'm like, all right, we know technology runs the economy, but where she was buying these calls at was really interesting. So if a company like NVIDIA was trading at$120, she was buying like$60 calls, right? Meaning it's far surpassed$60, but there's potential growth for it to go up. And the depreciation, the percentage going down is a lot less because for a NVIDIA company like that, a trillion dollar company to go from$120 back down to 60 is highly unlikely. So there's a little bit of certainty there. So it was interesting. I was watching that. Marjorie Greene is another one. And I actually listened to your episode about it when you were talking about the ETFs that track both Democratic and Republican moves.

25:06And it was like, it's funny that none of it's illegal, but it feels very, allegedly, it feels like there's got to be some legalities that are not being checked. We had Senator Jill Brown on the show. Just saying. From New York. From New York. And senators, actually, I think it's all Congress, beats the S &P 500 by 17%. Unless somebody is like Warren Buffett in disguise in Washington, it has to be knowledge. It's like COVID. They all sold their stocks two weeks before the official lockdown happened because they got briefed that we was going to get a lockdown. It's human nature. If you know something, you're going to act on it.

25:49And it's not illegal. It's not. Yeah, SEC Chair Gary Gensler came out and said it's not illegal to act on non-public information if you're in Congress. Yeah. Maybe when you're a senator. They know who's getting contracts. They know who's about to get under investigation. They know when. They know everything. They get briefed on things that we're not privy to. So, of course, if they're smart, they're going to use that information to make money. And now we've seen it even go a step further with meme coins. Yeah. President has a meme coin, right? So now you actually have political people that's actually endorsing their own coin investment to push to the public, marketed from the bully pulpit that they've been provided from being elected officials.

26:38That's unprecedented, pretty much. Yeah, and incentivizing it, too. What do you think about Trump coin? Because I think it was like 58 people made a ton of money. 10 million. Yeah, and then everybody else lost everything. Yeah, it's a scam. Any of those coins are scams. They're not tied to anything. The whole point of that is just to pump it up real quick, get a few people rich, and then it's gonna fall apart. So that's happened with anybody that's done that. With celebrities, when they've endorsed the coin, we just never seen a president do that before. But there's a lot of things that we've never seen happen.

27:09Or a first lady. She got a coin. Yeah. Everybody gets a coin. Granddaughter is gonna get a coin next. I don't know. I think what worries me, And you guys do such great work on democratizing financial literacy, and I try to do the same work. But when you have this going on in Washington, can it ever actually be democratized? When there's such an unfair advantage. When you see, you know, I think it came out that 100 members of Congress are trading stocks that they have bills on. With this playing field, can it ever be leveled? No, it's never going to be leveled. The idea of there's no democracy.

27:47Like, democracy is everybody's equal. That's not true. We know that. If you're Elon Musk, you're not the same as a schoolteacher in Nebraska. You can literally put$200 million into an election. How are you equal, right? If that was the case, then it would be so many different laws and rules that would be put in place to make every single person equal. So I think that it's never an equal playing field in life. But the most you can do is actually just get into the game. That's right. You can get into the game. You're not going to be LeBron James, but at least you're in the game. You can participate.

28:21You can participate in an imperfect system. I think that's the key. The democratized part is the participation. So yes, we know that they're doing it. Can we track what they're doing? Oh, yeah, there's actually apps that you can use to track it. So if we can track it, that means we can use information too. We can participate at the level we're at. Because yeah, like you said, it's always going to be imbalanced. But if we don't participate, that imbalance is that gap. just widening so far. Yeah, you can't say, well, I'm not gonna do it, because it's not fair. Well, then get left behind. You gotta be in the game to win.

28:53You either participate or sit on the sidelines or start a revolution and try to erase the whole entire system and bring a new system in, but that's extremely difficult to do. So as long as... You're gonna do it. We're waiting for you, Rashad. You're gonna run for office with your wife. First lady, yeah. See you now. You have it. Can I be the campaign manager? I got you political strategist right here. I like that. I like that. We're on the case. You're hired.

29:25Hold on to your wallets. Money Rehab will be right back. And now for some more Money Rehab.

29:37How often do you check your brokerage? I mean, you got to check every day. Every day. I checked twice a day. How much are you up? Let me check. Can we check? Yeah, I'm going to check right now. Should we all check? My E-Trade is up 79%. 79 %? We got down to 11 % earlier in April. So yeah, since April. So we're up about 60 % since the tariff thing. From where primarily? So that's my options trading account. But it's all relative. I think sometimes people get discouraged by numbers. Numbers is an infinite language. There's no ending or beginning in mathematics. So we have to look at, okay, where are you up since we started the year?

30:17Where are you up since you started your brokerage account? Let's say I'm up 500 % since I started my brokerage account, but I'm down from the start of February when it's... I think sometimes this can be misleading, and it can have some level of discouragement for the average person. I just tell people, just invest. If you invest in quality companies, ETFs, index funds, you're going to make money over the course of time. But in pockets, you might have a good season where you're up. You might have a bad season when you're down. But if you look at it too much, then that's going to cause you either a comparison analogy where you're actually comparing yourself to other people, then you start to gamble.

31:00Then you start to make bad decisions. Or you get discouraged because you're like, why am I doing this? I'm only up 5%. I might as well just gamble. Online right now, there's more money you put in online gambling than the stocks. That's a problem. So we really have to be cautious about how we're curating these messages because the reason why people are putting more money into online gambling is because they think that they can have a quicker opportunity to make more money. I like it boring. Like, so boring. I like my returns. Most people are not entertained by something that's boring. They're entertained by flash and numbers.

31:32And if that's the mentality, then you're going to go to Las Vegas. Yeah. And you're starting to see it now over the past six or seven years where people are appreciating the number. So where it was, hey, we can get you a return of 7%, people are sneezing at that. That's a good return. Yeah, 7 % to 10%. When you're not educated in the space, it feels like, oh, that's not a lot. Especially if I tell you, hey, I had this equity that I invested in, NVIDIA would be a company that's up 400%. The 7 % doesn't feel as good. And so there's a level of expectations that we have to put, but a level of knowledge we have to put behind that.

32:04If you have compounded interest with 7 % return every year, you're in a good position. It's also based on how much money you have. Because if you have 7 % on$1 ,000, you can't do anything with that. If you have 7 % on a million, that's somebody's salary. So it's all relative. And that goes back to the education as well. So the numbers that we're looking at is important, but it's also how much money you're putting in. That's why you got to put as much money as possible. So saying like the amount doesn't matter is a lie. Amount always matters. I agree. But that's why investing and business go hand to hand.

32:41So like with our platform, we teach entrepreneurship and we teach investing because you got to have money to invest. What happens is that if you don't have money to invest, now you start with very short, small bots of money. Then you start to gamble with that because you want outstretched returns to make it make sense. $1 ,000, 7 % is not going to move the needle. So now I need 10 ,000 % return on my$1 ,000 to actually get somewhere in life. But if you have positive cash flow coming in, now you can invest$1 ,000 a month. Now that compound interest makes sense. So it's a double-edged sword. You have to find ways to make money, whether that's through a high-earning occupation, and you have to be skilled in today's high-earning occupations that's actually going to make money in the next 20 years, or you have to be an entrepreneur.

33:26So you can't go about it one way or another. You can't just earn a lot of money and do nothing with it. That's a recipe for disaster. And then you can't be a just Warren Buffett when it comes to stocks, but then have no money to invest. You're going to get frustrated and you're going to go against your discipline either way. So it's all interconnected. I think the first 100K is the hardest. I think that's when people get really frustrated because they're not seeing the power of compound interest. But once you get up there, I was looking at my portfolio. I thought it was good for 4 % up yesterday when the market spiked again.

34:00But at a certain point, that 4 % or 1 % makes a big difference. So if you're at a million, 1 % gain doesn't seem like a lot in the market, but that's 10 grand. If you're at 2 million, you got 20 grand. And so I think the initial accumulation phase can be the most rest of the thing. It's interesting you said that because I agree. It's the first 100 ,000. Even trying to save up to that amount. And a lot of people are like, hey, I'm saving my money because that's what you've been taught. As you're a young adult, save, save, save. and trying to get to$100 ,000 to invest, it's like the mountaintop.

34:32If you can get to that, then it's like, all right, I have income now to see substantial growth. That was kind of my story. It was like, get to the$100 ,000, do all the research, put in some good investments, and watch the return. And I did that in 2020, and then the returns were great. And so we're just going to replicate in that. But that$100 ,000, that is the threshold. When did you get there? Early 2020. What about you, Rashad? $100 ,000? I'm not 100 % sure, to be completely honest with you. I remember when I made my first million dollars. 100 ,000 to me was not a goal. I'm not discouraging people from$100 ,000, but I feel like 100 ,000 is very attainable.

35:09I know a lot of people that have$100 ,000 saved, like in their 401k. That's a realistic number that if you're doing the right things, you're gonna get to$100 ,000. A million is where it gets tricky because to have a million dollars liquid, that's when I think it's... That's the hardest to me personally. The million, your first million is the hardest to me. I feel like the 100 ,000 is inevitable. A million dollars is almost damn damn possible. Liquid. But once you get a million, now you just gotta... The changes. Rinse and repeat. So when was that for you? I think it was 20... 21? 21, yeah. And you guys shared it and celebrated or...?

35:50We didn't share it, but we both made it. Share it. But the$100 ,000. No, like you say, like, damn on your phone. Yeah, definitely. Definitely. And we were like, I remember putting metrics in. If I get to a million, I'm going to buy this watch. And then you got to the million. If I buy that, that's really like$50 ,000. I don't know. I got to change the metric. I'm like, we got to make 1.5. We got to make two. And so you just keep changing the metrics. But I agree with what he's saying. Like the million was the goal. $100 ,000 saved to invest was like, I got to get there. Because that$100 ,000 turned into the million.

36:24Would you buy in a million? What did I buy? I bought a watch. Yeah, that's the first thing. I mean, I think the thing is we keep changing the goal on ourselves. So once you get to a million, it's like, I'll definitely celebrate when it's 1.5 or when it's 2 or when it's 3 or whatever it is. I think you skipped steps. So it's a million, then it's 10 million. That's the next goal. Like 10 million is a goal. Then after that, it's like maybe 50 or 100 million. You just add a zero. You leapfrog. What was your route? Was it like one and then 1.5? I think for me, every time I set a goal and I hit it, I automatically think of the next goal.

36:59And I think that comes back to a lot of the financial trauma that you guys talk about because it feels like it's never enough. When you're like, oh, when I get a million dollars, like then I'm set. And it doesn't totally change. Like what's in your bank account doesn't equate to how you feel about something being enough. Do you guys feel like you have enough? I always used to say my mindset was that of a millionaire. My bank account just didn't say it. So even when I was teaching in school, I had that mindset of I'm going to be financially disciplined because if I was making$100 ,000 a year and managing a family of two and a wife, I'm like, if I get a million, there's not much that's going to change.

37:36So it was the mindset. The money just came because obviously the value we were adding, but the discipline remained as well. It wasn't like, all right, now I'm going to be an overspender. Now I'm going to be frivolous with money. Now I'm gonna do things that are out of character for me. Like you said in the beginning, we get to show up as ourselves every day. This is... We haven't really changed since we were like 12 and 13 years old. And so we've gotten knowledge and resources and obviously relationships that have helped guide it. But that just added to the tool belt of who we were already... were with, especially when it comes to money.

38:06But I feel like when you get your first million dollars, you're gonna feel pressure. You're gonna have a lot of anxiety. Why? Because you don't wanna lose it. That's the first thing. Nobody wants to have money and then go broke. When you're broke, there's no fear of going broke, because you're already broke. But it is a lot of pressure to make sure that you do the right things with your money, because there's no guarantee that you can make that money again. So that's one level of pressure. And then most of the time, you're gonna change where you live. You're gonna have different things. Your kid might start going to private school.

38:34So your expenses are gonna go up. That puts more pressure on you to keep making money. Lifestyle creep. Right. That's a real thing. It's more pressure. More money, more problems. More money, more problems. That's a fact. Do you guys have a number? Like an F-U money number? It sounds like your next number, or have you hit it yet? It's$10 million. I think the F-U number's$100 million. $100 million. That's when you can just ride off your interest. At that point in time, I feel like it's almost impossible to go back to zero if you have$100 million. But you want$100 million liquid, or you want$100 million of net worth?

39:20Liquid. $100 million liquid. Liquid. Because you could have$100 million net worth, and then 95 % of that is tied up into a company's valuation. Exactly. And then that company... They're not mark-to-market, and you don't know. Right. You can't actually get... We met a broke billionaire before. It was an interesting story. He told us a story of how he's one of the youngest people to become a self-made billionaire in America. Who was it? Ryan Boslow. He was like in his 20s and Forbes listed him as a billionaire. He wasn't broke as far as no money at all, but he had probably less than$100 ,000 of cash because all of his valuation was tied up in his company.

39:56And then he had a board and then he had a fight with the board. So he couldn't really do too much with the company. It was a lot of infighting that was happening. He didn't have too much control of the company at the time. The company really wasn't even at a position where he could take money from the company. So he had a valuation of being a billionaire and he was broke and living in Los Angeles. You can't go to the supermarket with your valuation. Right. No. But what rich people do, and I love that you guys educate on this, is borrow against that value. I was going to say leverage. So I grew up in an immigrant family too.

40:29A lot of immigrant families are the same. They just use cash. If you don't have something, you don't buy it. We're not getting it. It's either cash or nothing. And you also put all your plastic bags in the dishwasher and never used the dishwasher. I don't know if that was the case. Plastic bags in the dishwasher. Plastic bags in the dishwasher. That was the storage area for the bags from the market. Oh, it was like a shelf, like a drawer. Because everybody washed your dishes. Hand washing. My mom, she washes dishes with her hands, but she uses the dishwasher as the dryer. Yeah. So you wash this stuff, and then you put it in the dishwasher so it could air dry.

41:03I feel like that's common. My family didn't speak English coming here. I needed to figure all this out the hard way. All I knew about money growing up is that debt was a four-letter word, and it was bad, and you don't use credit cards, and you don't get mortgages, and you don't take out debt. But what rich people do, I find out much later, is that they leverage against those assets. Didn't this guy take out a loan against it? It was a private company? I guess he couldn't because it was happening with the board and all this stuff that they're fighting. So it was a unique situation. His situation is probably not common, but I'm just saying that's an example of the net worth sometimes a little bit misleading.

41:41Right. Like it's what do you have? What can you touch? What can you touch? Yeah. Hundreds a lot. OK, well, what's your number? He told me this when I was 24. He was like, look, you just got to get to 10 million because if you get to 10 million and you can live off 3 percent interest. He was like, you make$60 ,000 a year right now. Can you live off 300 ,000? I was like, yeah. He's like, so get to 10 million. That's what I was going to say. Yeah, living off your interest, you don't need 100. I think 50 would... I think 50 is a number for me to say F you. The things that I want in life, I have those things.

42:13And so, yes, you want to make sure that you can create sustainable wealth for generations, but... the liquid cash of having it, I think 50 would be good. Because even that 5 % interest... I think it's relative conversation. Still a million, man. So 10 million to me is considered wealthy, but I don't think 10 million is enough to say F you. I don't think so. I think you still got to be cautious. You still got to be careful. Depends on your lifestyle, of course. But like you're living in New York City, you're living in Miami, you're living in LA, you're going to travel, you're going to do different things.

42:43I don't think 10 million is a number where you can just ride off into the sunset and just say F the world. Can I preface that real quick? Because I was a teacher when he told me that. This is 20 years ago. But 10 numbers, it's 10 numbers. That's a number that's important for sure. But I just feel like once you have nine digits, and it doesn't have to be like 100 % liquid, but they gotta be a large portion of liquid. Six digits is what you always look for as far as growing up that you have to try to make$100 ,000 a year. Seven digits is a dream as far as everybody wants to become a millionaire, but that's still a workable, you're still working.

43:20Eight digits as far as 10 million, to me now you are wealthy, right? But you still have to maintain that. You still gotta stay in pocket and manage different things. Nine digits is when you're uber rich. And when I'm saying like F you, I'm thinking like uber rich. So you don't have to have 100 % of the nine digits liquid, but I do think that is a large portion has to have some level of liquidity. But to me, nine digits is when you can literally just say F you. Do you have a number? Now I feel like my number was too low. Now I have to... What was it prior to this conversation? It was 20. But now I feel like I need to add another digit.

44:06Add a zero to it? I don't know. We can be at 15. You can come over. And or is that, because I don't know, God forbid, if you get divorced, it's half of that. Exactly. Safe to first. Happily married. Happily married is the key. Which is why you need the prenum. See? I am glad. It's all coming full circle. Because at that point, this idea of leisure changes. So if you had that money, would you still do what you're doing? or what is earning your leisure at that point look like? $100 million? No, I feel like if you got$100 million... You're not doing the show, you're not doing anything. At that point, leisure's been earned.

44:41It's over. Game over. Last episode. What about the people that need your advice? We have curated over seven years of content right now and wrote a book and done a variety of different things. So at some point in time, it's over. I'm not trying to do this too much longer. Like, I feel like the more you do, the less you appreciate it. Why? Because familiarity doesn't really breed appreciation. It breeds contempt. So the more you see something, the more you just, all you do is just think about what they could have done better or criticize or it just leads to, because it's human nature, right? Like you're used to seeing your mom every single day.

45:15But if you don't see your uncle or your aunt that you only see once every two years, it's like Christmas every time you see them because you don't see them. So they give - What if you don't like them? No, I'm just saying that you have a relationship if you like them, right? Everybody has a favorite uncle that they only see every couple of years. So sometimes it's better for people to appreciate your absence as opposed to you being too familiar and too comfortable. We're not at that point yet, but we've given a lot of information and we got a lot more information to give. But at some point in time, it's going to be up to the people to carry on that legacy.

45:45Yeah, the level of appreciation always deteriorates over time, right? Because you've seen consistency at a certain level, right? Every time you show up, whether it's every Monday or every Thursday, we put on an episode, you expect it to happen. The minute it doesn't happen, it's like something got thrown off in your life's algorithm. Why didn't they do it? You don't remember 10 years ago when none of it existed. You just remember that this is what is part of my life now. And it's added value. And they're supposed to add value because I need them to add value until it's not there. So, yeah, he's right about that.

46:19When you guys don't show up on Monday, we'll just know that Rashad is on a yacht. Nah, but we'll have a thing. Final call. It'll be like the last episode, and it'll be probably four hours, and we'll actually talk about the exit. We'll talk about our exit, and we'll see. Now you'll actually see from start to exit. Literally, that'll be a whole documentary within itself, and we'll say, okay, this is it. This is how we got the$100 million. We'll walk you through the process. This is what we did. And this is our gift to you, guys. And this is a send-off. It's gonna be titled, Leisure's Been Earned.

46:50See you in Mykonos. It's been real. Yeah. The reality is that it's very unique to watch something like that happen in real time. Right? They watched him as a financial advisor. They watched me as a teacher. They watched us in my dining room to having a hundred million. They've literally watched that step by step, whereas you've never seen that really. Like you've never seen somebody start something, get a valuation for a hundred million dollar to potentially be a billion dollar company. And you got to see the day one, right? Like by the time Facebook had happened, it was like already going, right?

47:26By the time it was publicly traded, it was like, all right, we're 2012. What was he like when he was in those dorm rooms in Harvard? What was that? That's what we've built with Earn Your Leisure. Like you've watched from day one as we've created, not only just the show, but created a network, created live events, created the book, created curriculum. people have been with us to this entire journey, which makes it super unique. I've loved watching your journey. Thank you for taking the time to share more of it with us. I could talk to you guys forever, but I'd love to play a couple quick finance games before we go.

48:03Hold on to your wallets. Money Rehab will be right back. And now for some more Money Rehab.

48:16Okay, it's a game of bullish or bearish. Real estate. Bullish, but you got to be careful. Got to be careful with real estate. Residential. Residential, yeah, for sure. Bullish. Commercial real estate. Bearish. Bearish. Crypto. Bullish. Bullish. Gold. Bullish. Short-term treasury bonds. Short-term treasury bonds. Long-term. Bullish. T-bills. Bullish. Still. Troy's like, meh. It's choppy ones. with my 89%. Choppy waters right now, but it's still important. Long-term treasury bonds. Bullish, still. We had a good guest on, Steve Eisenman, who actually... We had him on. He said he's not scared. Yeah, his confidence was pretty impressive.

48:58He brought up a lot of valid points. Yeah, he backed it up. There's no alternative as of right now. Exactly. He was a great guest. For sure. Yeah. But you're not buying any treasuries. You're doing options and some other creeps. Okay, index fund. Bullish. Bullish. Index funds and chill. Anything that I didn't mention that you're bullish on? Foreign investment? Yes. Bullish. Funds that track outside the U.S. ETFs? I agree. Haven't gotten as much love, but they should. Our next game is Never Have I Ever. Do you guys drink? A little bit. I know it's early. We were going to bring something. I thought you would be down.

49:37I'm down. I thought we could do, like, beer or champagne or something, but we didn't bring it. Champagne. We could use that. Only drink champagne in the morning. Rosé to be exact. Please, preferably. We'll just pretend like we're in the south of France. Let's do it. Okay, so we've all played Never Have I Ever. Yes. All right. Never Have I Ever maxed out a credit card. Oh, I definitely did. Do you drink me? Do you drink? Of course. Pretend that's, like, classic. The good stuff. Ooh, it's good. What region of France is this from? Never have I ever split the check on a first date. Oh, no, I was going to do that.

50:16That's crazy. We grew up in a different era. Splitting the check is crazy. I agree with you. You're from the same era. Yeah. I know. We know nobody's here. I know the year. You know everything. It's true. March Pisces. I'm on March Pisces, too. Oh, you are? So you're sensitive. I think that may be the female trait. Okay. I'm sensitive, yes. Okay. I'll take it. Never have I ever bought a lottery ticket. I bought a lottery ticket before, for sure. Never have I ever signed a prenup. I have not signed a prenup. Neither have I. I did not. Never have I ever been in debt. Oh, yeah, definitely been in debt.

50:51Never have I ever bought myself a six-figure gift. A six-figure gift? Sheesh, you got expensive. Wow. What was your gift? Yeah, now I'm interested. It was a car. A car? A car. Does that count? What company? Range Rover. Love, that's one of my favorites. Okay. Love it. I don't think a car really counts, though. Well, you bought it in cash? Yeah. You bought a car in cash? That counts. Thanks, guys. It counts. Thanks. Yeah, I love it. Never have I ever disputed a charge on a credit card. Oh, definitely. I'm doing it right now. Amex. See if I'm working away. You kidding me? I agree. You haven't disputed a charge.

51:26You really haven't lived. Yeah, exactly. Never have I ever fought with a friend about money. Fought with a friend about money? You guys fight about money? Never. Not once. No. I don't think so. I've had friends ask for money that was irrational, and then we stopped speaking. Huh. That's not a fight, though. Because you started making money, so they thought... They asked... Yeah. Can you loan me this? And you didn't feel like it was appropriate for them to ask, or you didn't feel like... The amount. I didn't feel the amount was appropriate. I'm all helping people out, but when the amount is outrageous, and you're like...

52:02How much are we talking? Like six figures. Yeah. As a loan or? As a loan. Do you think you should lend your friends money? I give my friends money in anticipation that I'm not going to get it back. So a loan, it was like, I'm going to give you 3 % over the next two years. I'm like, all right, you know what? Let me call you back. Wow. And you never did. They're still waiting for the call. All right. Never have I ever become a New York Times bestseller. Woo! Let's finish the scouts. Cheers. Cheers to you. Cheers to you. Boss bitch. You guys should do the male version. What would we call it? I don't know.

52:36You tell me. Boss bro? What is a boss bitch? What does that mean? A boss bitch. The cup just got put down. You don't have to. For all the listeners, the cup was just put down. All right, let me turn to her. Let's hear this. Okay. A boss bitch doesn't have to be either to be both. So I was called a bitch in a derogatory way early in my career when I was ambitious and trying to do something with my life from where I was born, somewhere in the bleachers in the alleyway, I don't know. But if what I was doing made me a bitch, then I own it as a badge of honor. Got it. That's it. Now it's in Cardi songs and stuff like that.

53:15It's a popular slogan. Took it from you. It was 10 years ago. Oh, so you started that? Yeah, I did. Oh, wow. Congratulations. Okay, this is interesting. Being that you started this, do you think that it has gone away from its original? Because now it's used all the time. So a lot of people have said that that's taken away like feminine aspect of. So there's another term that's feminine CEO, I think it's called, where it's like you could still be soft, still be feminine. But when you created that term, did you have that in mind that you could not be feminine or the femininity? I also have never split the track.

53:52Like I really like being in my feminine energy. I think it's super, super powerful. It's not about being a man, being masculine. It's about really owning whatever power you have and using it as a badge of honor. We end our episodes, you know this, Rashad might not know this, but you know that we end our episodes by asking all of our guests for one final money tip you can take straight to the bank. What's yours? That you can take straight to the bank? Not literally, but just... Maybe literally. The biggest money I could ever give somebody is to live below your means. Increase your income, decrease your spending, invest a difference.

54:34I think that's interesting because it's not within your means, it's below your means. Below your means. Yeah, and that's important. That's important. Most people haven't really, nobody ever really thought that through. Below your means, invest a difference. If you can do that, you'll be fine. If you don't remember anything else in life, if you can learn to live below your means and invest a difference, then you'll be okay. I've been going on six years with this advice and it's still the most important advice plan for your future Because you're gonna be older a lot longer than you're gonna be younger when you talk to people Especially in our space two things they say I wish I would have known that when I was younger and I wish I would have started when I was younger I'm so glad I didn't invest earlier said no one ever ever start now.

55:12It's true. Yeah You're never as young as you are today today is as good a day as any. How long are you really young? What do you think? It's interesting like I remember the kid who graduates college feels like he's a man or a woman now because they've passed the phase of their scholastic education in a certain sense. And so are they no longer young? And I'm like, to me, they're young, right? 43, the 24 is pretty young, but they're going into now adulthood. They're part of the real world. They've got to get real jobs and make real money to live on their own, presumably. And it's, wait, you're an adult right there.

55:46I'll tell you for a woman, it's when you hit 35, because that's when you have a geriatric pregnancy. Or it's 35. But I also think it's the expiration date, too. So I don't use terms like young and old because it's all relative. If you're 16, but you're going to live to 18, you're old at 16. But if you're 40 and you're going to live to 95, you're young. How do you know that? Exactly. That's why we got to be careful with these words because you manifest things upon yourself. That's why I don't use those type of words, young and old. You're just living. We're just passing through this. But when you start to put that on yourself, right, now you're starting to actually manifest certain things that you have no control over.

56:25So I don't really like those terms, young, old. I feel like we're all just passing through. We don't know our destiny. Walking each other home. But we just, you got to just live in that moment. Start now. I think that's really important, especially now I have a four-month-old daughter. And I think a lot about how I talk about money. Because when you hear, I can't afford that, or we can't afford that, that really impacts you later in life. Maybe that's not a priority right now. But we don't stop to necessarily think about how we talk to ourselves and to others. Yeah. There's compounded interest on that mentality, that language.

57:00That sits inside of you for a while. I'm asking for money as a kid, and my mom would jokingly say, if you was$20, I'd spend you. And I'm like, she don't really want to spend me. She just don't want to give me the money. But it weighs on you. We can't afford this. Don't even look at it. Don't touch it. We can't afford if you break that. For sure. I'll never forget growing up that I had to turn off the light to save money on the electricity bill, and then only flush the toilet when I was number two. And I think, like, at some point, my leisure didn't equate to a number in a bank account. It was like, I want to leave all the lights on all the time.

57:35Because you remember that stuff. Yeah, that's the trauma. You guys are the best. Thank you. Thank you, and congrats on the show. Thank you. I thought it was number one. It's a big deal. Making history. Thank you. Thank you for having us. Appreciate it.

58:15at MoneyNews Network for exclusive video content. And lastly, thank you. No, seriously, thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make.