Tony Robbins, Sean, Joe Walsh discussed on Del Walmsley
Trump sleep. Welcome back to the Joe Walsh radio show today. I'm dismantling an article written by somebody who knows nothing about what he's talking about. The article is seven reasons why stocks are better than real estate and some Shawn lane Golias or something like that. I don't know guys marketwatch article and somebody said it to me, Sean. Yeah. So you're not picking on some guy. I don't even know. But the bottom line is if you read is material you can tell he doesn't know what we do at all. He has no idea at all. And he has no idea how to be rich if he's rich. It's because you can't be rich. What he's saying tells me he can't be rich. There's no way he could be rich. I mean, he's talking about things in such an ignorant manner. All you can do is make money save money make money save money because he's not making any money investing the way, he's sitting this thing up his mind. The next reason he says number six reason is because real estate or stocks are safer the real estate when the market starts to go down. You can get out of stocks easier. That's absolutely alive. Here's the way. I want you to see it. I want you to envision this. I want you to envision that you're standing there owning stocks and the guy's got a gun to your head. And he says the stock market's going to go down today. Three hundred five hundred points, you're at work. Can you get out? No, you're not going to be able to get out in the middle. But three or four or five hundred point drop did take to take the gun and shoots a bullet at you. And you're dead. You can't get out of the way of something that moves quickly. The stock market moves very rapidly. Now, let's take real estate. Let's say somebody says okay interest rates are starting to go up. That means there's going to be some point where the cost of real estate with the interest rates involved is going to not allow the price of real estate to go up anymore. If they start tightening up the lending requirements, or they let the lender requirements get to loose and people start defaulting loans over a long period of time. You're going to see that there's going to be the loosening of the market where it becomes unsafe. There's a bubble people are paying way too much real estate. I want you to think about that as being a train on the tracks. And the guy standing there with your going look at trains common, and it's going to run you down. There's no doubt about it. It's gonna run you down and you go it's not just step off the tracks. You can come in. And you can see that trade to come in. And when we had the real estate drop in two thousand eight two thousand nine the only people lost any money with the people that didn't know what they were doing they paid way too much for the stuff. They bought their speculative buyers in the market to buy and flip type stop. That's what they were doing. They're stuck with this stuff. It was people who lost their jobs couldn't pay the payments on the real estate. They bought which they should bought because they couldn't afford to pay it. You know, if you can't afford to pay for your real estate, I'm talking about what you live in. Even if you don't have a job for six months to year, then you get to expensive a piece of real estate you're living in and so these people they lost this money over a couple year period of time because ignorant decisions where they didn't listen for the train coming down the tracks during that very time. When everybody else was losing money. We were making a killing probably the most profitable two years. I ever had in my tire. Life was two thousand nine two thousand ten just golly gosh. Great investing and everybody else to say, well, oh, my God real estate is taken all down. No, it took you down. Right. So think about that. Would you rather have a gun to your head as a threat or a train down the tracks is a threat? I would suggest that train is what I'll take every day that thing awakened up tomorrow and having by noon to stocks, go down five hundred points. I can't live that way. I'm too old. I could have a heart attack from that kind of stuff. I don't know how you keep from. When you wake up one day and forty percent of your wealth with gone every person I've bring on the radio that you listen to the story is always the same. Why did you come to real estate because it's safer because I lost forty percent of my net worth in stocks. This guy is so wrong. His argument is so upside down in silly. You wonder how we even gets published? Maybe he pays to publish your stuff. I dunno whatever and number seven, fewer taxes and fees. Are you out of your mind? Have you totally lost? It does this guy. Even bothered to do any research before he writes, something, Sean, Sean, come on John real estate investors when done correctly don't pay any taxes on their income, you pay taxes on everything you do every single transaction. That you make money and you're paying taxes on it. How in the heck and you say there's less taxes and fees because there's property taxes. They don't have property taxes. You don't need property taxes because you don't own anything you own a piece of paper, and you only get is capital gains. And that's all taxable by the way. Even if they threw often dividends that would be taxable. But the property taxes we pay come out of our net or gross. Proceeds to allow us to the net. Proceeds so we'll we're talking to you about the rate of return that's net of the property taxes. You dumb completely ignorant person writing articles. There's no way you should be allowed to write articles. Hey, if I was going to write something, I would go look up the facts before I went and wrote something and made a fool out of myself. This is just the most ridiculous article I've ever seen in my life. There is no seven as Weiss Dr better real estate. He's named off seven reasons real estate is better than stocks. My friends if you can't see that if you live in that world he lives in. I'm not gonna call you ignorant. I'm going to call you financially insecure. I'm gonna call you living a life of quiet desperation that people become real estate investors when done correctly the way we teach it between two and five years generally replaced the earned income. Replace the earned income with passive income. Wow. Now that leads me into the next article. This was written by CNBC CNBC. Yup. It's an article about Tony Robbins and his feelings about what is a financially secure or no wealthy person. And Tony Robbins talks about the fact that he thinks it being wealthy is a feeling a. I feel wealthy. I feel safe and secure. Tony, Tony, Tony, you're worth four hundred million bucks. I looked you up. You don't feel you are wealthy, and what you're telling people if they could just learn to live with what they have. And and he says it's something like this. I'm not read the whole art because I didn't even print the whole article says something like if you just learned to appreciate what you already have anything above that becomes wealth. You feel wealthy. Now, I've said it many times. The only way you feel wealthy is if you're so rich you have enough to give away and give back. There's no given away and give it back with these people. Tony they're barely even making enough money to retire. You're feeling concept. Although intellectually makes sense. You know, we always want how much money one more dollar. What we have right now only plays out for people that have the lack mentality the zero sum gain that I have to take dollar from you for me to have a dollar. But in the abundance mentality that we live in everybody can be rich. And I don't mean field rich. I mean. Rich. That's something that you can't even imagine Tony as you had them walking on coals. Woo. That's an incredible thing. I walked on Kohl's. I'm still poor. As I was before. I started I still have to get Monday morning, go to work my motivated to get up and go to work, but I still gotta get up and go to work all the fire walking. You do Tony isn't doing nothing towards helping these people financially because you got them feel good about their financial situation. You have not help them with their financial situation. The article goes on and says, here's how we break down whether or not you're wealthy comes down to how long could you live? If you lost your job tomorrow. And he says if you can live only a month, you're broke if you live one two three months, you're teetering. If you have three to six months, you're satisfactory three to six months. Survival is satisfactory, okay. Six months to two years as well off. Well, let's hope when you retire guys. You don't live past two years. Let's get our death certificate ready. We'll get a stamp ourselves out in two years because hey to what it says here, you know, six months to two years as well up. Now two years to five years, and you are wealthy. That's it folks. You're living on ten thousand bucks a year, but you can live on it for five years in a row. Ten grand a year. You're wealthy makes no sense at all. What is the quality of life style that you can live five years, but live like a broke poor person? And you're going to call that wealthy because you feel safe that you can last five years. Five or more years is ultra wealthy. We'll guess what? Everybody lifestyles unlimited that does what we do has to feel ultra wealthy. You know, why? Because once you replace your earned income with passive income. You can.