20 Episode results for "Ninety Six Thousand Dollars"

How to Make $8,000+/mo From Podcasting With A Small Audience | Ep. #1038

Marketing School

06:56 min | 1 year ago

How to Make $8,000+/mo From Podcasting With A Small Audience | Ep. #1038

"Get ready for your daily dose of marketing strategies and tactics from entrepreneurs with the guy and experience to help you find success in any marketing capacity. You're listening to marketing school with your instructors, Neil Patel, and Eric SU. Welcome to another episode of marketing school. I merit sue, and I moved and today or coming to remotely to talk about how you can make eight thousand dollars a month from podcasting with a small onion. So this was another thing I checked on recently for those of you and Neil for you to I actually read a site called hot pod. News dot com, so like podcast, pod hot news and this guy, right specifically, I'm podcasting and I found out something there's this podcast in Japan called disrupting Japan and it's ran by one person, and for the longest time this guy wasn't getting paid at all from podcasting and I think he built a small audience, maybe thirty five hundred people or so. And he was actually able to get people to pay eight thousand dollars a month breaks podcast, that's ninety six thousand dollars a year which seems not bad. But Neil, if you're to guess how was guy able to get eight thousand dollars on a small audience, he probably either made the podcast. Either ads or he offered him something exclusive? Or maybe it was a topic that just made people so much money didn't mind paying. Yeah. So the deal hit the combination of the three out of four. I think so it's three hundred last four so it's catered towards startups, right? It's like a business conversation right, disrupting Japan, also he was very focused on ads but it wasn't just any ads because Japan podcast ads aren't like a huge thing right now. As a matter of fact, Neil when I visited Japan, people say listen to us on YouTube. It's not like they listen on like a podcasting out. So YouTube is actually like a huge thing there, which I mean it's big here too, but bigger they're, so what he did was he spent what he found was. He was actually spending seventy percent of the time, actually reaching out to sponsors almost becoming a media company. Because when you become a media company yet to reach out for sponsorships and you're, you're reading the ad for them. You're, you're, you're helping serve your client, those types of things, and then what he felt was. Even though he's making six thousand dollars a year, which is great. He found that wasn't happy anymore because he was only spending thirty percent of his time on the content. So what he did instead was keychain. What does Asian model to go back to free, and he actually ended up finding a fulltime job, instead that I think pays him more money, and he's happier because he's able to just serve people instead of stressing out and not being able to scale because nine six thousand dollars is good. But you can't build a team from that. And he found it very hard to to scale from there. So I think what do you take from that story in terms of lessons? Neil, big one, I take he's making a big mistake if he's making all this money charging other people for his art cast should figure out a way to sell directly to audience for his own progress service, and you should make more money. Yeah. My take on it is, I think this is people are going to disagree with me for saying it. But I think the early days of starting up when you don't it's very hard to get to the point where you can hire team members or employees. Right. And I think you have to beat a certain breaking point to, to be able to do that. And to me to get to that level. Sometimes you have to work harder in the beginning. I'm not saying you need to work extra hard like the whole time. But maybe in the beginning, you have to give it that extra push. And then maybe you're able to squeak out like another deal or to which might get it to sixteen thousand dollars or twenty four thousand dollars a month. Something like that, right? Then you have the ability to hire people. So to me, I think you just crank out a little more. You work a little harder, or the other option is you can go work for somebody else. And then kind of just do it for fun for free ller. It just depends on how you want to skin, a cat. I think Neil kneels out my answer to same probably because we are we just don't mind we just love working, I think some people, maybe it doesn't make any sense. Very might pull your hair out. So the stress might be not not their flavor of tea, I think for me. I deal with stress probably Neil to. And in general, anytime you can make money anything you're doing, whether it's podcasting, your own blog, whatever it may be. It's not from selling your own products and services from other creative ways. Like charging people to advertise. And if people are continue willing to pay that, that means there's something wrong with what you're doing because they're making enough to consistently pay you. Now, if they just pay for a month, that means they're not getting that if they consistently pay. That means people are generating are whites in you're better off being the one who sells your own products, or services and people, always worry about scaling. You know how can I make the most from my time? All this as Eric mentioned. We both don't mind working in. We look at it from the aspect of, hey, if someone's willing to pay for something that means we would probably make way more. We did it ourselves. Yeah, I just think it's hard to start anything from scratch, because, you know, get going back to the growth everywhere podcast after the first year, I was only getting nine downloads, they and then after the second year only thirty download so by any means, like most people have given up, but I think if you're willing to put into extra time to eventually make it work, and you see a path forward, then do it. And obviously, if you have dependents you have kids, you have a spouse, it's a tougher. Conversation understand that. But I think it's you got to put up the risk to I heard a quote recently. It's like risk is a tariff. You have to pay from getaway from the to get away from the shores of misery when you think about that. The quo. Yeah, anything else you wanna add. No of those amazing timing too. Because as recording this podcast. The Dow was down three hundred points because Trump increase terrace on China is like twenty million dollars worth of terrorists or something ridiculous. Right. Speaking of which I'm basically flying China tomorrow to Hong Kong. So yeah comes at a weird time. Anyway. So guys before we go a single grain dot com slash for our live event happening in downtown Los Angeles. That's June twenty-ninth that is the application ago or two to register for it. I'm going to read a review for you, because the reviews actually help us grow so reviewing subscribed as podcast to some comes from Jared's or Jared's terrific podcast. Great insights, five star reviews as love this podcast short, high yield episodes, really actual advice. I binged episodes a week at a time, but find myself, always wanting more. Well, that's good. 'cause we're going to keep going to keep you wanting more Jared's and for the rest of you. We will see you. Tomorrow. This session of marketing school has come to a close be sure to subscribe for more daily marketing strategies and tactics to help you find the success you've always dreamed of, and don't forget to rate and review, so we can continue to bring you the best daily content possible. We'll see you in class tomorrow, right here on Archies school.

Neil Patel Japan YouTube Eric SU Jared Archies school China Los Angeles Hong Kong Trump eight thousand dollars twenty four thousand dollars ninety six thousand dollars nine six thousand dollars sixteen thousand dollars twenty million dollars six thousand dollars
Upgrade 265: Nothing But Canned Answers

Upgrade

1:25:29 hr | 1 year ago

Upgrade 265: Nothing But Canned Answers

"This is upgrade episode two hundred sixty five today show is brought to you by pinged them fresh books and direct mail my name is mike riley and i am joined by mr jason snow hello mr mike hurley welcome home jason's now i have a hashtag snow question for you could leave that's how we're going to start the episode that's unusual usual for us to start with the first segment but okay i'll allow it rafael rafael asks what your daily average would count is and i wanted to maybe refine it little in case you don't know the answer to that question but you may and i wanted to add to it to say like this time of the year when you write reviews and we're gonna talk about some of those later on what is kind give the average amount of woods that you will write in a day if you're really focused okay so i don't my job it's not just sitting right words so i don't have i'm not a i know novelists and they have a target count or showing eh when you have done no no rhyme you've tried to target sure you have to if you're if you're going to write fifty thousand words in thirty days you've got you know write a a one thousand six hundred sixty six day but the is that the target i can't even remember anyway there's there's a target number right to hasn't word today if you wanted to it's going to be in that ballpark one thousand six hundred sixty six times thirty four in one thousand nine hundred eighty you'd have to i don't know like twenty words or thank you yes well yeah you're right one thousand six hundred sixty seven word today the truth is that my job is not just that i have all sorts of other things i do include in this podcast and running my own little podcast network and editing you know some of that stuff and editing other podcasts i have other parts of my job so so i'm not just sitting and writing if it was sitting and writing fulltime and that was the only thing i did was just writing words even then you have to actually use the stuff off and do research you know you have to think about what you want to write about and you have to try stuff out and and so the words are just a part of the just one part of the job so i think we're refining of this question is good i would say you know my mackerel column is usually about a thousand words a lot of the pieces that i write her a thousand words link pieces are much shorter obviously when i'm just quoting something and leading to it i could you know so i don't have an average word count your refinance or like if i'm really cranking yeah i could totally right six seven eight thousand words a day if that's all i'm doing the whole day and it's for something where i have a heavy deadline and i just have to do it or sometimes sometimes similarly but in the inverse if it is something you are incredibly like focused on right like there is a thing where you're like i am i'm all in on this is not necessarily as deadline but like you've you've you've had a spark right and you just go for sure although nothing really focused focuses you like a deadline and i find that those i find that those those days where i'm writing and writing and writing writing are generally motivated by having something that has to get done or that i have to dive deep into because otherwise because it's taxing like writing that much you are doing nothing else and you're you get tired you get mentally exhausted from the focus that's required of that and so you you know it's not something i could do at that level every day but it does happen the iphone review that i just posted on six colors that's only about four thousand words but usually the pieces are even less reviews or whatever they're a little bit longer and i don't know i don't know i can i can definitely write several thousand words in a sitting sitting if i need to it just depends on the context of it but there's a balance there of of the research goes into it the the you've got to think about what what you're going to write you can't just write random words so it's complicated but i can be very very productive when i want to slash need to be camille kant we all aren't we all it's hard well maybe some of us thank you so much to rafael fail for the hashtag snow talk question if you would like to send in a question to help us open an episode of the show in the future just tweet with the hash tag snell talk and picked up i would like to i think this may be the last time now that we talk about saint jude fundraiser that's been going on throughout the month of september which has been absolutely lutely incredible we been raising money for saint jude children's research hospital throughout the entire month done many special events including our pastathon i will remind you we started with a goal of seventy five thousand dollars as we are sitting here today as we are approaching very final day of september we we have currently raised two hundred ninety six thousand dollars jason two hundred ninety six thousand seven hundred thirty eight has been raised by the real FM audience audience for saint jude which is absolutely unbelievable it is an unfathomable amount of money thank you so much to everybody who's donated it's an incredible show of support for one of course you can still donate pushing at three hundred thousand maybe we will hit that before the end of the day i really do hope so because why not just hit an incredible amount of money just thank you so much it's really you know from the bottom of my heart and i'll say it for stephen to and then all all of us here at relay FM the amount of money that has been generated for this 'cause i really means the world to us thank you so much you can go to saint jude dot org slash pineapple in apple to donate to support childhood cancer around the world that is saint jude dot org slash pineapple because singer incredible organization helped so many people so thank you so much sula isn't that amazing amount of money i on one level i am completely blown away because i remember you standing at my my house in my backyard and saying well we're really we're going to get to seventy five thousand zero we're really going to have a goal of one hundred thousand and here you are at nearly triple that michael also i start to think about well in the heck we're going to do for next year dot anyone think about that if we have three hundred thousand drew original like seventy five goal but yes sure tripled report the one hundred which resemble the secret goal yeah i don't know what we'll do next year but boy howdy we're gonna try with thinking that we heard from lots lots of people in retail over about the retail experience jason before we do so actually i would like to share at apple retail experience i have because it also kind of upgrading mike you're sorry i want to tell this story before we talk about the feedback that we got so we're talking about this later on an episode abiam now an owner of an apple watch preorder that i never have i would have ended up buying an apple watch i it's ceramic off to the constitution to everybody's surprise i ordered it as you do pick up window i went and then waited for thirty minutes just add table while other people coming in of people that were coming in often getting picked up before me i had to remind the guy that i was there before for anybody came over you know and it's this whole thing of galway at this table go way at the table i was like twenty people around the table that is wild thing we're in this system describing what you look like a friend of the show alex cox having an issue where they took off a sweater and then couldn't be found by an apple store employees they would tell me about about this like a couple of days ago so yeah you don't change your that would be a great thing to do right go in with like a jacket and a and a hat and sunglasses and then as soon as they leave take those all often see how long it takes for them to figure out who you are so i didn't have a great experience in apps or would you like to go through some of the feedback that we need to get from episode employees about what's going on yeah we definitely heard from a bunch of people trying to you know some of it was explained some of it was defend some of there was a lot of stuff because we're talking about the retail experience and obviously it's close to them because they're working in it definitely got some feedback from people who who basically were saying look this is really hard it's very busy we did a pretty good job given how much pressure there is on a launch event which i totally get i don't think our point when we talk about this stuff is to say that that apple store employees are not doing this on the employees though is that the system is created around them exactly right our point is is not hey apple store employees you work harder or anything like that it's apple needs to be solving some of these issues that come up and considering ways to refine improve the process next time but it's a process process issue and i believe that they are in the same way that like the upgrading process from phone to fungus better of year i wouldn't be surprised if every year they are refining refining finding but neva thing is perfect right yeah i've actually even heard through the grapevine that there are at least toying with the idea of some of the stuff that we mentioned the idea of for example if you have an online order like i was saying about how i ordered my watch and they said it's gonna it's not gonna be there for however long for a few weeks but it's in stock at my local store having their apparently at least through the grapevine this is what i hear at least investigating the possibility of how could you convert verdon online ordering historic in news jason snell says then apple is good my somebody might be considering i mean that's not a guarantee that it'll happen i think that that's not surprising what we said is it's not surprising that apple would be looking at me right they would be if you're an apple store executive you're not doing your job if you aren't realizing all the places that you think the system is a little bit weak and are wondering and somebody answers maybe that's not going to solve this right but thinking about thinking about it because there are some issues right like if you order your apple watch and it's not going to be there for two weeks weeks then and it hasn't shipped yet and you go into the store can they convert maybe but what if it's already shipped well kamei can they divert your UPS package at that point or they're like sorry it's already shipped but as we said last week you end up this in this situation and this happened to me where you go and buy an apple watch and and then you have to do a return because then the the other one comes a week later and i got one of them has to be returned to that point and that's not great for apple apple because they have to they have to restock it and there's cost associated with it so i'm sure they're looking at stuff like that the question is how complicated is it how much work do they wanna to do to make it happen and does it doesn't work out in terms of their their set of priorities for next year but that i have no doubt that they're that they're looking at it and and so that's that's good that's good to hear i also heard that some stores they they will in an example of the letter writer we got last week at some stores i heard from some news you know at our store if that happened we would absolutely see if that apple watch was in stock and if you're already being helped like they'll bring out the watch and the band i and ring you out and that's the end of it like the the reservation system is supposed to be for peak times when they don't have enough employees it should not be deployed ideally really when it what the lead writer said was there's basically nobody there in the store had just opened in there was nobody waiting in line and and that letter writer was told make an online order income back in two hours and so i definitely heard that that sounded unusual at least to one particular apple store employees in their store i also heard from somebody just an interesting bullet point about wired transfer you know where you can actually plug the phone and transfer the data over a wire which is not particularly really faster than doing the wireless connection and what they said was wired connections are really good in the apple store because everywhere in the apple store our iphones that are shooting out data over wifi to do transfers or whatever and it is a hostile environment for data transfer that just right yeah and and as well as just having that as an option like even just see you confident senate even if the wi fi for the entire store dropped that you're not going to have to start the process all over again right yeah yeah i mean it's just it's it's it's a it's a smart thing i mean i don't think again i i don't think it's the wi fi at the store because i don i think this is all point to point device to device but the problem is they're all using the exact same spectrum which means that you know for those who remember way back to win steve jobs had to tell everybody to turn off their computers so that he komo wifi feature like you can saturate the the the spectrum around and then the connection in wife like like devices connected to the wifi apps store one time exactly or transferring data or a wireless transfer right like there's so many different ways that work so anyway that was an interesting little data point that the wire one of the ways that that wire transfer feature makes sense is actually in apple stores when they're doing that and then i heard from a few people that the delays with the watch and getting the watches out to you and why they need to build in time to do it is actually about what we speculated about which is that the watch studio approach which which is very clever because they're no longer kind of saying well you can only have this watch with this band because now they've got a bunch of boxes with bands and a bunch of boxes with watches and and they put them together in the little wrapper a little cardboard wrapper that goes over them with the two tabs now oh you've got an apple watch with band but you got to pick that's great they gotta how to put those together backstage and then bring them out to you and that is a delay because you can imagine that they are getting their prepping all of their watches for pickup from customers and they've got a backlog and there's somebody back there who has to and it's not just sticking them in right they've got to like scan them and mark them as being this order and it's like there's a lot going on to do that and that's this is an example where there is a potentially frustrating buying experience on the outside of the store that needs to be improved but it's actually being caused by by an innovation that they're doing that is making that is less customer hostile which is you don't have to buy a band you don't want you can buy the band you want instead of what they used to do which did you have to buy the watch with a band you don't want a lot of time and then separately get the band you do or you have to wait because while they have your watch and they have your band they don't have them together other end so there's nothing you can do about it like that's it's great that they're taking that part and separating it but the bad side of that is that it can and cause some delays while the assembly is happening in the mail okay i make sense so but the yeah the big issue is is like when we talk about the iphone setup experience or any other aspect of this what we're not saying is in this case the apple retail employees are doing a bad job what we're saying is how could this be better and is what are the weak spots and is apple trying to figure this out and what what are some possibilities i i think that the apple store employees are working hard under difficult circumstances whenever there's a product launch but those those moments of stress are where we can get glean some insight into what's working and what's not working at apple retail and and they've shown in the past that they are interested did an improving the the system and that will make the process better for the employees and the customers hopefully does have a couple of headlines ends for upstream apple is released three trailers to highlight its children's contents apple TV plus so snoopy space which we've seen already but they've gone of a trailer for that ah a ghost writer which is a show where four friends team up to figure out why a ghost at a haunted bookstores releasing fictional characters into the walden it's a mix of like live action CG that's a remake yeah it's a yeah they bought that property rights nineties TV show yeah and i believe you've in the trailer you can see the kids will using funds which is they go if you wanted to that kind of stuff it's probably placement and try to help stirs which is the sesame workshop project this had stage time during the apple event if you're when big bud came on and introduced a character and talk about like coding and stuff like that right that's this show all of these three will be premiering on november first as part of the original slate of programming up we'll have available which isn't just about a month before apple TV plus will be rolled out to people apple and teo jason euell favourite TV oh customers will simply adds before their recordings pre roll ads more customers no matter ah this description level is on any device that runs the software called tvos experienced four which is operating system they will be skip -able ads which makes me wonder why even imbaba te'o has add tiba has ad skipping anyway and so if it feels like they've just decided why don't we just put pre rolls in and then people can skip those two or not and i don't think it makes any sense tivo is not the company that made a company called raviol- that renamed itself tivo after it bought the assets tivo it is it confusing sentence are so right well it's not the original company anymore is what you're saying no no they bought by a company that owns a whole bunch of intellectual property and various stories and things and stuff like that and they they are i'm not i'm really not sure what they're doing other than trying a bunch of stuff out it seems kind of baffling to me when this was first reported i think everybody kind of assumed oh this might be a way because there's a monthly fee to do tito that this might be a way to try and encourage people to buy the product by making you know amazon style right with special offers like a cheaper version of teo or the tvos service that has some i'm ads in it and then you can or you can pay more but they they said nope we're just gonna put this everywhere and the demo is really disappointing the other thing about this as well what's what's what's the big deal if you press play it starts with an ad because maybe you're recording started with an ad anyway and you just press the ad skip button that you press anyway and you skip the ad two things one is your question in which is if the people who use your service skip ads why are you putting an ad and making its capable because it's like i wanna see one of the main selling points points of the entire product right is it just that there are some people who don't know how to do that and they just press play and sit there i don't think i mean i'm sure some of those people exist but it seems very very very strange to focus on on that kind of market so it doesn't make any sense and then the second thing is the actual experience he's talking about us picking apart apple store experiences -periences the tvos experience at least in the beta that somebody posted on the internet you press play on your recording and then you wait because it's slow and it's it's loading and so you have to sit through the pause as it loads the ad and then it starts playing the video ad and then you press the skip button and and then you wait as it because it's bad software until it shifts to your actual recording and then you can see the recording so if it were seamless and they were patching it'd be one thing but you're also sort of like waiting for the ad buffer or something i don't even know what it's such a bad idea and i would be more up in arms about it except for two things one of which is i am not on tivo experience for which is also called hydra which is a it's they're really loud lousy overhauling of their user interface i don't like it at all so i'm not using it i'm i'm still using the old version and which they've had for fifteen years twenty years and it's great and the other thing is i feel like the the era of the DVR box is is coming to an end that if and this is why i think it's really dumb for them to do this is is all they're doing is providing impetus impetus for people to finally just cut the cord and stop using tvos and use a cloud DVR and just be done with divo- or go to their their cable companies DVR like their whole idea here is there a better experience and you have to pay for it and it's a third party experience but it's better for me like the time is coming and i can see it coming now where i just don't have a tivo anymore and i'm using an app for an over the top TV service that's got a cloud DVR whether that is who or playstation vue or youtube TV or something else direct TV there are there are a bunch of other options and once if tvos degrades its it service that'll be a reason to jump but i will probably jump eventually anyway the number of us of TV shows that i watch that come over the traditional even though i have a cable subscription and i watched shows that come from the fact that i'm paying for cable the number that i'm watching off the hard drive of my DVR dwindles by the week because even like i watched a new CBS show yesterday i didn't even bother recording it because i have CBS all access so i just watched it on CBS all access i didn't even need to watch it i can just stream it so so i don't know it's it's sad that this is how it's ending for tibo but this does feel to me it feels just like the death rates like they're desperate and they don't care and they're trying to see what sticks and it's baffling to me that they would do it this way but oh well it was good while it lasted it was the it was the best DVR and but you know all things come to an end so it goes let's do a good ad this episode is brought to you by fresh books works the wonderful fresh books can have hey stop it stop it you stopped oh sorry instead fresh look save you time you don't have to worry about skipping stuff you can save time refresh afresh books they simplify task invoicing expense tracking and getting paid online fresh books has drastically reduced the time it takes for over ten million people to deal with their pipework walk relay FM is one of these companies use fresh books here because it's so simple it's so easy their invoicing system is so wonderful you can just go in and jews choose from some from drop downs his type in some basic information stuff is saved so you don't have to reenter line items every single month this interest system i love that we can set up all of our clients silence there so we can just select a person like the line items that were billing and it's really easy to do and also you see when you're creating the invoice it shows in that system how y'all going to see it it's like a whizzy week editor right so you're gonna know exactly how it's gonna look when it lands with your custom you can email them you can even have fresh mail invoices for you if you want that then once you send the invoice when she was sent out to your to if you emailed out to your client i folks who show you whenever it's been seen you can see if it's been open multiple times you can see they've been printed it because they're going back to the fresh books page grab that invoice is puts an end to guessing games and you can even have fresh books automate late payment email reminders for you so you don't have to she spend that time chasing and just go back to the work that you want to do if you're listening to this and you haven't yet tried fresh books and you ever send invoices ever do expenses and all that kind of stuff if you have to give them a try they're offering an unrestricted thirty day free trial listens of this show no credit card required just go to fresh books dot com slash upgrade and say a when they ask you you know oh how'd you hear about say on the upgrade program a thanks fresh books for this pool of this show as fresh dot com slash upgrade so let's talk about the iphone again okay because of what the iphone and apple watch again today because there's more still want to say still more it's september this is what we do have you heard the show thanks keep thanks keep moving on right like two hundred and sixty five episodes later like you know what we're gonna madurai we've had the funds for a couple of weeks and i think especially especially with this iphone the more i use it the more i have it's a say on it because i keep finding new things or i keep the you know the new stuff that's happening but you wrote your review and i wanted to get matter with you a little bit your iphone eleven review which ing capsulated both the eleven and the eleven pro right you kind of review the both at the same time and we all guesses is when needed but they're very similar fonts but i wanted to kind of ask you because you published it yesterday which is about a week or all too often the original reviews went live and i kind of wanted is it tricky to write a review off the the embargoed reviews of yeah yeah it's it's very much so because if you get the product under embargo then you know that your review is going to land with all of the other reviews at the starting the firing the starting gun whatever that embargo is every review will drop the way it works generally as you get the phone probably at the event you get a product either at the event or relatively soon thereafter and you're given a time said you can't post this before three AM on tuesday like all right so you've got a deadline and that that it it's actually quite freeing in the sense that if you're handed it and there's no embargo like literally they hand you something and that's happened to me where i've gotten i think the ipad was like that where i was given the ipad just before the review embargo dropped with that as my embargo but essentially meant that by the time i drove home or like to i think i drove to like dan frakes house for mackerel than than we and then we wrote about it like everybody else had had time with it it's one of those things where you you write about it now but what will you say you haven't used it so what would you do and that's three you'll get a lot of those sort of like anybody have any questions for me because i haven't used it yet so if you're not in that first group where everybody's gotten time to look at it and consider for it and they're all dropping and it really is the news about like what do the reviewers think of this thing that isn't out yet after that happens like i literally got i i knew those would be dropping on the day the tuesday morning because i had a briefing at noon on tuesday and i thought well the embargo will be before that that that's sort of the second way reviewers that's what they do is they don't give it to you before that embargo drops they give it to you right after so i got my briefing and then i'm sitting there having not used these products until just now and there are already a dozen deeply considered several several almost a week of time thinking about it reviews online there's no point in me even dashing offer review that point right like i be late whatever a day late and a week short of experience if i did something like that and it wouldn't be any good so then it becomes this kind of conundrum which is i still want to write what about it but i wanna take time to use the products and i can't be part of the you know tell me whether i wanna buy hi this thing anyway because so many people bought it on the on the preorder date before any reviews were up so my audience especially so what is it it becomes this question of like what is it what what is this review even trying to do and i struggle with that when it's when it's one of these i wanna take my time with it i don't want to rush there's something out because there's really no point but at that point you know it needs to have a point of view and it ends up becoming in this case it's different every time and this was very hard to write because it there's so much else going on i was thirteen stuff that i was writing and packing up my daughter ticker to college there's lots of things going on and so it was it was a week later you can't right the review which is like let me tell you about this phones all about because we know that now and we already knew all the specs anyway i mean that's a challenge even if you're an embargo reviewer so what do you do what do you do and i just decided it's it's kind of it's kind of a movie movie review after the fact of just like a an essay about it it's kind of about what's missing and what it's it's kind of like big picture about like what does this mean strategically for apple what are the choices they made and and you know because in in the end basically what i thought was this is my essay about the iphone eleven and what i what i think is interesting about it and what i think it means because in truth i don't think it can serve the purpose if i was reading the wire cutter or something i would say to myself well what's going to happen the story is going to get into google and people are going to search for it who are looking at buying an iphone eleven in december or in march and they'll use this as buying advice but i don't think my audience audiences that audience so instead i tried to make it about you know what do i think about this big picture what are the features that draw the jumped out let me the decisions apple made when they were making this thing where do they go from here you know and is that the right decision i don't know it's a weird position to be in where like they brief me they gave me the phones i i wanna be on the record about it but i've also not interested i'm not under embargo and i'm not interested in writing a quick hit piece that's like i said a day essentially a day late and a dollar short so instead you know it went on longer than i would have liked i would like to have posted this a week after but like i said said with the other stuff i was working on and the fact that we were packing up my daughter and driving her eight hours and then the next day driving her bat or driving back without her i like i got i got delayed so it took a little bit longer than i would've liked but it finally did pour out of me the last parts of it on on saturday and and that that was good 'cause i guess as well right like the thing is you have to find an angle like you have to find a reason for right to exist rape and i wanted to if like that is becoming is that becoming more difficult over time like because especially like these phones they don't change a ton and through that probably makes it tricky and then they're also adding mortar lineup right there are like three phones now so i guess that makes it tricky but it is it like you know you you do a good job with this is it practice for you you i think in a different way like how do you end up being able to work out what your angles are going to be i think the challenge is that it used to be a lot easier to take the big picture as the as the long lead review the long-term review because the short-term reviews were very focused on all the new features when there aren't in a lotta new features and you could see it like the verge review is like this and john gruber's review is like this like when when there aren't as many you those reviews end up being kind of the let's step back and think about what this means it's like come on guys lead me something you got to just it just talk about the geek bench score okay just to sum image samples and move on so but yeah that's that's the challenge engine so i i think what i've come to is at least in this cycle and we'll see what happens next time where i've come to basically when i need to do is think about the big picture and write an essay about where the iphone is and where it's going for people who care care about that stuff because i feel like those are the people who read my stuff and and focus on that now could i have have the challenges that like all the iphone is so big that all the angles are taking because back in the mackerel days what i would have probably done this focused on let's focus on speed and we'll do battery life testing and we'll do we'll do an image sample jury and compared to other phones and all that but the fact is most of those angles are taken by somebody right like i'm sure are you know mark spoon our at tom's guide is doing the comparison with the photography of the google pixel three and i'm sure that the display mate guy did his whole review of the display on the eleven pro and compare said it was everybody's got every little little piece of that and then i fix it is taking it apart like all of those bits are out there so you know again i come back to what can i say that you know even remotely interesting interesting and different on this and that's where i ended up which is so so the piece a lot of it is i mean some of it's experiential about the about like night mode and how i think they really nailed that feature her and how fatigue when we talk about photography it's not just the hardware although it starts with the hardware it's also the software about how you know how you pick what you upgrade upgrade incrementally when you do an incremental upgrade like apple does so often and how this year they picked the i think two most important things which are battery and photography and and then you know i talk about the positioning which we talked about on the show a lot like the idea of making the eleven the center making them what was the ten you're the mainstream phone and what that means in terms of like saying the iphone is a is a is not a thousand dollar phone that's the pro model for and how i think that positioning marketing wise is way more appropriate for the product line and makes the makes apple look better to say yeah we do sell a thousand dollar phone but it's the pro model up there you if that's if you don't want the pro features just get this it's the iphone like i so i did a little bit about that what and and in the end i did a little thing about like where do they go from here and where i'm kind of music to myself about like what's left what's the frontier for apple here and that you know you put it all together and it's a four or five thousand word essay and then you press save and takes pictures and you post it one of the i want what are your quote from you though i really liked and it was an interesting thought i hadn't i hadn't considered and i hadn't seen any way which is about the pricing changes so i'll read a quote from jason's review which is very very good and and as one of the reason why it's about is because you do surprise me like how this in these situations you always turn out something that is interesting to read and i read it and i think to myself how did you manage to do that because i feel like i already know this stuff so that's why i it took me all this time to figure out what to say come up with something interesting here please do right like it doesn't matter how long it takes longer to say about it but this is the quote winter aid let's consider ascended the narrative about apple trying to goose from revenue in an era where sales flat by raising prices yes the top of the iphone priceless is the most expensive ever been with the iphone phone eleven apple has cut fifty dollars off the starting price of last year's iphone ten granted this is the same price the in two thousand seventeen and it's fifty dollars more than the seven one two thousand sixteen still i wasn't expecting apple to cut the starting price of any iphone ever again here we are this is fascinating to me because there's a bunch of stuff about this iphone which is really interesting right like people said all thirteen was so buggy they should have delayed it but they couldn't delay it because it delayed the iphone they would have pushed it into the next quarter an app would amistad guidance and wall street would just do obliterated them right link it would have been a disaster if they would have done that so they had to release it when they did that's why i was thirteen has been so weird because the iphone could not be delayed but then i hadn't considered this that all they have to show for the iphone now it's not unit sales right it's just revenue now is that right that's so they do it now that they are only focusing on the revenue they've caught the starting price of their most popular model and repositioned that phone even more strongly that should be the most popular model that is a very interesting decision that they've made yeah it's it's and again i mean maybe you can make the argument that when the most interesting thing about nathan i don't know if it's the one of the most interesting thinks about knife on release is the marketing and pricing decision but i would argue that that it's always interesting i think that that's one of the most interesting things at least for me about a lot of the choices apple makes is why did they choose to price it that way why do they choose to call especially like the naming they they try so many weird naming things across the product line and we talk about it on this podcast but so i look at this and i think that's really interesting like they have last last year was a mess right last year it's like roman numerals and letters that are pronounced promex and all of those things like what does it all mean and it was because they really wanted to do the iphone ten with the big acts in charge a thousand dollars in blow people away all right but then there ll delivered down last year this year like okay reset set eleven and made this decision not just take the ten hour and upgraded and make it the you know and and do a new version but to make it the eleven to make it the default and i know most of our audience is like and i'm going to get the pro right i get it but the default iphone the the iphone eleven not the oddball not the light not the you know the which was sort of like this weird like what does the armenian i dunno it's the iphone eleven is that model and they did that and that and that the more surprising thing is that it's fifty dollars less than the ten are was which as i i said i kind of gave up on apple taking a price lot and reducing the price but they did it they did it and it benefits the entire product line to have that product there at that price and the apple said it's the the ten hours their bestselling phone in the last year presumably that's that's broken out pro and pro max separately but still you know that's that's pretty good so i just i think that that's i think it's an interesting move on their part when you say law shit you dummy semi pro max you just mean eleven and eleven mac well i mean when they say the ten thousand so i tried to correct you made more wrong but i think people know right like the ten are outsold i don't think they mean outsold the ten s collectively they mean the they i didn't say but i assume they mean it outsold the individually the tennis or the tennis max exactly but still pretty good so i i don't know i mean i it's a risk on apple's part too because if they say the cheaper phone is more central are they going in to end up selling more of them percentage wise than they sell of the pro line and does that hurt their revenue per unit does it hurt their revenue or does does it help the revenue because the lower price gets more people to buy i don't know it's a it's a fascinating decision but i think assuming that people are still going to buy the pro because they wanna the by the pro because that's the one with all the fancy features and the and the different sizes and the better display and all of that i think it's still better to have those be marketed as pro phones and so anyway i it's just it's fascinating because this is this is the biggest product consumer product around and they're still tinkering hankering with how to sell it it comes back something that you and i talked about six months ago maybe which is the idea that apple now has to market the iphone because it doesn't sell itself looking like an apple stores they're doing more aggressive like actual sales techniques and apple retail stores this is like that too right this is apple like mopping the sweat off of its brow a little bit saying all right how do we let's get down to business here how do we really set up these iphones so that they sell i wanted talk about the two main features camera battery a little bit more because i've had more time we'll have more time to use the phone i am absolutely unequivocally in love with the camera on this fun it is absolutely fantastic in every way i was just in munich this past weekend i was at my brother's stag in october fest fallen off tim arrived just they just as i was leaving i cannot talk about whether i spoke to tim i didn't but he just he just pops up sometimes i'm going to include in the show notes an instagram story highlight that i made of like just so my photos that i took him eunuch and i'll say they saw pretty much all well edited in visco the software you know like filters and edits and stuff so any of the photos that look good they are at a in this go but what comes out of this camera is just stupendous like the i am absolutely lutely in love with it i think it's fantastic i'm having so much fun taking pictures with all of the different lenses right like walking out which one's the right one one and comparing them trying to understand when to use what i had i actually had a real world instance where the auto cropping thing worked for me so there was a group shot that one of my brothers was out of and the iphone it actually automatically arranged it to bring him back in race bryce using the wide angle lens yet because they're using they're doing some machine learning analysis of objects and people in video and instills to figure route that there's something outside the boundary of the frame that you probably want an an automatically including which is an interesting about that is an an cameras and i was so happy to see it like a real world testing actually worked for me and i was like thank you iphone you did it i would say though that like so i- crop a lot of my i cropped my images before i post them to instagram just as a top tip for people you paul if you take a picture and you add anyone really nice on instagram stories crop it to sixteen by nine nine by sixteen like in the portrait before you upload to instagram because of wise instagram does like a weird compression to it i don't know why that happens but it does us pictures always look better if you call them first but when you go into that mode there's like an auto cropping and arranging now right that the system will try to do which is new and you can turn on and off on a picture by picture basis it tries to crop for you but there's like a you can do like a vertical and horizontal adjustment which basically wops the image like makes it like it's coming towards as you right by phone seems to do that a lot and i have no idea what it's doing like why would you make the image look like that so this still some tweaks to be made to some of the the auto oh cropping but i was super impressed by the fact that it was able to fix that group for for me which otherwise would have been completely lost i really loved it i absolutely love this camera it is fantastic and i also wanted to mention the battery i've been traveling it's not a battery case levels oh you know like it's not like you can go with this thing forever and evan amana how heavier using it right like you got the battery case and i can't wait for the battery case because like accrue knows things forever but i was using my iphone incredibly heavily as i do whenever i travel and just to to save my own anxiety like a top opened up a little bit when i was like back in a hotel room or whatever but i never hit read on my iphone and i'm taking time and taking video of the time you for directions podcasts awesome music when i'm walking around like well i'm traveling that's when i'm hitting my phone the hottest and i wasn't willing to go through the test of not topping up when i had the opportunity right right but i never got into a situation where i had to turn on the battery saving mode or it hit the red so the the battery on this phone is serious yeah it's i feel like what there's a lot of debate about like if you're really somebody like alex cox who is using these phones to do pokemon go and things like that and you're killing the battery or you're an extreme travel mode where you are using it for a long time we're using really intently like they're gonna be scenarios where you're going to want to charge and top up or to you have a battery case or to have an external battery but i think in the normal normal use on an extended extended day not having to worry about it is basically what has happened which is good that's that's i think that's the number one battery exile for a phone is just am i gonna be able to get through the end of the day if you're doing something more extreme than that than you bring bring a battery or make sure to charge up but you by by adding several hours of battery you're you're able to get you're not gonna be able to go through a second day right it's still it's not adding twelve hours of battery but it's adding enough battery for you to get through your your normal day without worrying about it it's a great phone is really really great that camera boy oh boy like camera i absolutely love it blows me away but that wasn't the only problem we actually didn't talk very much about the app wash because you've just got yours and i didn't have one so we're gonna talk a little bit more about some questions for you jason okay poor series five stay to answer thank you very much but i i wanna thank new sponsor to the show oh and that is direct mail and easy to use email marketing app designed exclusively for the mac to help you create and send wonderful looking email newsletters email marketing is still an incredibly incredibly cost effective 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businesses nonprofits schools and fortune five hundred companies like dark mayo is free to download and get started listen to this show can save ten percent of all of their forfeiture pricing plans if you go to direct mail mac dot com slash upgrade you can check it out that is direct victime oh mac dot com slash upgrade and you get ten percent off when you opt for full feature plan a thanks dark mail for this this show and we laugh him i bought the ceramic addition watching been long rumored that i would do it by me and you and i did it so that's that includes a sport band did you know that the addition models include a sport band no matter what you get for fun they have of the pins in a matching materials so spoilt band and it has a white ceramic pin in it dry very happy about because when the there's a long story familiar with this i love this watch and i've loved it for a while all the white ceramic it's previously been around in addition line and that was what it came head of which was a white spot band with the white ceramic pin and i was really upset when they had the the configuration because it's like oh i get it it's not an option anymore but they could it in the box if you've got a titanium you get different colorado you'd get like a gray stone i think nicole and i believe it has a titanium pin not the aluminium penn so i've been wearing it all white white on white for about a week i absolutely love the way this watch looks as a as a apiece right but not a not talking about like this looks great for an apple watch i genuinely think this is a very good looking thing to wear which is why i opted for this one for me this is just like an item the i want to own because i think it's beautiful right it is not not as i would say it is not as like fancy looking as the watches that i own i feel like even though it is an expensive item it is more more of a casual watch for me from look perspective like i wouldn't wear this was wearing bright for a nice dinner i would not wear eh the upper watch i still i think this is going to be a journey for me jason because i am still not sure how how and where the app watch fits into my life i can tell you unequivocally no matter how much i enjoyed this will not be an everyday watch for me because i love you've malvo watches to write and no watch is a watch so they were always i've i've been i've rotate i have a couple of rotate with them and see one of one went away but the always on display has made this a product that i could wear comfortably because without on the ways on display the apple watch just can't work for me because i want to be able to see the time on my watch right that's what i want and i noticed noticed i am catching it in the always on display mode a lot because i'm using the california face and the the red secondhand i have disappears right yeah so i know i am i am reading a lot which tells me that if it wasn't always on display i would be very frustrated because i would not be able to see the time when i want to write absolutely and i seem i mean i know you the always on display new for all of us but you wearing apple watch right but full yes so have you found that to be as nice and experience as you were looking for with the ozone absolutely it's enormous armistice not only are the times where you have to train myself back into the habit of being able to glance at my watch without doing a kind of dramatic risks i like that i haven't it had been doing that right because i'm not used to doing that like raising my wrist up to my eye level to see the time i have imagined that all previous app awards uses a still will trying to train themselves out of that motion for the for the time being right well and also what i've noticed is a sort of inter interim so sometimes i'll just look at it and see what time is an and then note to myself that i did that and it wouldn't have worked before other times though what i'll do is i'll i'll turn my wrist a little bit to look at the time and sometimes it will trigger and sometimes it won't trigger this and i'll think to myself well this is good because i don't need to worry i've i've seen the time now i don't need to trigger it whereas before i would have had to do a another flourish in order to get there and when it does trigger i think to myself well you know whatever that's it will it will dim almost immediately when i move my watch backer it's doing some very interesting things in software with where if you if all you do is just move slightly it'll brighten up for a minute and if you don't interact with that after that it very quickly or you move turn your wrist back away it it kinda like dims very suddenly it's funny how smart it's trying to be with power saving but the funny thing is that i will look at it and then it will brighten up but i've already seen what i need to see and then i just turned my wrist away and move on and it's just another reminder that before it was not just turn your wrist but turn your wrist and wait and now it's on now you can see and then you can go about your day so oh yeah it's a fantastic feature marco on ADP last week made a very clear case for why this is the number one new feature of the apple apple watch more than cellular because in the end you know a percentage of people actually use the cellular features but you know everybody looks at the watch to he's the time and it's telling that apples apples ad campaign is it tells the time right like even apple is like yeah okay yeah you can you can take time on which is always was the joke right about when people would ask me when i was wearing a pebble they're like well how do you like the digital computer wise and i'm like well tells the time like number one is it tells the time that you got that right and always on makes it dastardly superior i think like you know an agreement i think it's the biggest advancement to the airport since in in like since originally came around everything else has been like this nice they're adding mall census that's great but like this fundamentally changes the product in a way that it should definitely have right like this is something that should have been around for a long time and i'm pleased that it is however it is the the watch faces themselves would mean the i would never leave the analog wall behind and i'm i'm going to be echoing some whoa marco settling ATP is a great segment segment i am in agreement with him well one is i feel like i can never get exactly what i want which is more australian to me here isn't isn't like as as many options as the california faceoff offers it's still i still feel like they are very close in some ways to the face i want yet but they just don't because the realization the other day was that the face that i like the best is still utility which they haven't updated for the new screen sizes which means it's the old style complications uh-huh and it's more limited but the face itself is exactly the face that i want it's the face and it's honestly some of that is just nostalgia that's the face of the two analog watches i wore from you know from when i got married and that was a that was a wedding gift and then i replaced that with another one that was similar and they look just like that and it's like i like that face but they haven't updated it and although you can get close with the california face it's not quite the same and marco's point i mean marco came strong out of the gate 'cause he basically said i he said the applicant design zayn watch faces and that's harsh but i think maybe fair and his bigger point which i think is is the strongest point he made paid which is for the for all the importance that watch faces have they are the primary interface of your fancy computer watch it sure feels feels like apple doesn't spend proportionately as much time on it as they do other parts of the watch and i think that's i think that's a strong point i get that they need to build an app store and they need to fix these bugs and they have to have to make new API's for standalone watch apps and like i get it but you gotta do the it's like what we said last year right you've got to do the faces right and if you're not going to do third party watch faces then it's incumbent on you you have taken by preventing other other people from building watch faces you are now responsible for doing a good job building watch faces and although the watch stories way better in this new version of watch OS it really is way better because they have created more flexible faces like it still with all the improvement that they've made still not doc enough it's just not good enough given how important it is i like to califonia face but california with more than one when you take it from full all screens to cyclist so you can add clinical implications yes a horrific mess like it square version i think it's the best looking apple watch face and it's like when it's filling up screen and you have one complication or do you think have to date and a complication in the smaller style it's a nightmare and pluses to many complications for me anyway ah once five or so i'd want a couple but i feel like there's still more they could do like i don't know just give me a piece of software to let me literally make my own from a bunch of dragon argan drop things may put it on my iphone right let me make it let me do it give like give me the tools to build my own watch face like just i don't know what you wanna do if if you don't want the pilot is to make them but i think ultimately there is nothing apple can do ever to give me a watch face that i'm going to prefer analog watch face because it's the materials on a real watched i love different textures the way that light hits it when you turn it this way or that way you know like sure the way that the hand stand up from the face right like the way that the indices the numbers and stuff like the way that they lay it in the materials emmett alvin how does it differ dukan give me that because it's an old led screen and it's always going to be an ellipse green and this is not a slam against apple it's just like for if you are a person that enjoys these types of things in watches there's only so much they can do anyway so but the thing that frustrates australia me is my computer watch con customized enough and i'm just like what are you doing let me do you get they get so go close but they never nail and i'm not buying mechanical watches and i am a pre basically all in on the computer watch and i feel the same way as you right like i i i'm not concerned about it being so good that it replaces an a mechanical watch i just wanted to be good and i think that apple knows and that's good that like there are things that it will never be able to do that a mechanical go watch can give you and that's fine because it's it's got its own strengths it is its own thing is a computer watch i get it but yeah it could be better and i think the frustration with the california faces in some ways it's exactly the right path for apple to go down and maybe the this is the thing is that they did like these two new super flexible faces and they put all their work into that and then the others are around and that's okay okay but like i feel like they did a lot but it's still not enough and i don't know what the answer is there i feel like the answer is either that they need way more people people and resources put into making their faces good and i don't know who is doing faces i mean what marco said is as a mechanical watch fan he feels very strongly say that whoever is making these decisions at apple doesn't understand watches that they are maybe a designer who has a watch or likes watches but he feels i can't say maybe there is somebody who absolutely has watches and for some other reason they don't get to be herded apple but in the end the output to somebody who is really into mechanical watches feels and i totally get what he's saying feels like they don't get it and that that it's people who don't wear watches designing watches and that's a bad place to be you you want somebody who is aware of and i'm not saying that everything they do should be trying to fulfill the desires of people who like fancy watches because that's absolutely not true true because that's not their whole audience what i am saying is i think there's truth in the idea that if you don't spend all your time thinking about how how other designers have applied themselves to the issues of watches you're you know you're not going to have the best output and i think that's where marco is coming coming from when he talks about this so i get that and i feel it too as somebody who is not an obsessive watch person i feel that same way i think it's really telling that this barring face that was part of the original watch face lineup is still my favorite even though they have done nothing to update it to the new complication formats matt's or to the new screen size and it's still the one that i liked the best i also like markos bit about giving up on analog faces altogether and embracing digital i use as we use infra graph modular way more often than i ever expected and and it's ugly but you know what with the new watch i'm not using it anymore and that's it's because i don't want to look down on my wrist and see numbers i wanna look down at my wrist NC those hands and now with always on display i can do that so i'm back to the analog faces understand why people use the faces because you are embracing what the risk computer is which is to give you all of the data and i used to be like that but now my tastes have changed right so universally is not that right now my apple watch face has the date and then i'm using underscores new moon plus plus because i think is nice like so it's a moon complication that actually it is accurately representing the moon as it is in you'll location and i just think that like i have in monochrome so it's black the black old black black face and just white so then when it goes into the always on mode the collar doesn't change right because if i had like the blue or the like there's there's like a win on the addition watch has its own color code addition which is like a kind of off white if i have that color when i tell my wrist my watch lights up in my face which i don't like right so i i now have it so it's always there's not too much difference between the dimmed mode and the regular mode right because that doesn't work for me i don't want my watch to shout at me that is available to show me the time you following what i'm saying yeah right there if you have a color it just like just lights up and that's not what i want bet anyway i've really liked this i just think that it is a this is i think the nicest looking that i've been able to get my watch to fit my own tastes as a a- as a as a person but i just don't think that it is i have an option really to be to make more computerized i'm inhabit have the health monitoring features back it's too no i've been doing the stuff fun right but there is also when i'm putting it on and it's walking me through i set up a new watch walk me through all the things that it does you know like tool the full detection it can just on on my heart one of our one it's making sure i'm moving around i'm reminded again you know i haven't forgotten long but it was a nice like a refresher of this is one of the reasons that this thing is such a good product is that you have an extra piece of mind in your life that there is a device that is strapped to you which is making sure you're being healthy i like that i'm really struggling with occasions though aw i feel like it doesn't matter how much bring it down still too many and i'm wondering how you have your watch setup kind of like from notifications certifications mindset do you let it monitor mira what's on your iphone new okay so you've what you kind of like a top level what kinds of things do you the have going to your watch calendar notifications messages and some a couple of smart home notifications like when my door locks locks and unlocks because i'm using that complication actually to unlocked my door one of these things that frustrates me is that my smart door lock will pair with the bluetooth in my phone but not my watch so when i leave with just the watch i have to manually unlock the door when i come back 'cause it should be able to pair by bluetooth and talk and they don't and i don't like that so i've got those but that's it that's it like i i have turned off most of my notifications i don't want them i want if somebody texts me i want to see it because that is i will feel bad on my on my watch a lot and i actually really like that especially with the canned answers i can i can have whole all conversations with people with nothing but cancers can onces make you sound like a crazy person i have i had a conversation the other day with i think with stephen hackett where i actually started answering with weird not quite right responses because i just thought it would be funny ASA okay okay so kind of they are so straight to the point sometimes like if you're trying to have a conversation with somebody but they have no emotion in them i feel like i i'm sure that there was supposed to be a little bit more smart added stuff and i just don't feel it but i would like to i know you can add some of your own and i've done that in the pasta i should do it again for this watch but like i wanna i've been thinking a lot about the right and his want one thing that's been bugging me because the most of the stuff that i have really it's like as you calendar i message slack riley they're basically the three applications and then maybe like my airline right right like british airways app can send me notifications feel if i'm travelling i probably wanna know yes that's true yeah it's like direct communication applications of the things that i want the most blessed let's see here is a thing that i wanna put you if i'm sending you a message and slack -demia i'm send you for the ems in a row do you need to would be notified four times i don't think that you do i agree because it should be intelligent enough to know that i did a notification an and you haven't seen it just what you know if you've seen it watch just white that's right this is my biggest problem also i would say just a little thing and i don't even have slack on my watch like i don't yeah i don't i and i know you run your business on slack and th and but like there is nothing in slam half the app it's just the DMZ yeah no i but i don't have those turned on there there is nothing in slack for me important enough to buzz me on my watch yeah yeah i understand that for a lot of people that's not the way it is for me right like i have like if you need me you need me but here's the here's the thing for you you in the way you use the watch because what i'm really talking about is is when i leave without my phone have it be on the phone and not go to the watch and then we'll that's yeah yeah but so but this i'm trying to like work out what's best for me and again underscore who i mentioned already made employees plus he said to me one he just turned haptic off i was like that's not a bad idea because then i can just chapman vacations whenever i'm ready to so i'm thinking about trying now it's like another thing because because i find the hap takes mostly distracting because of this idea right where like said it was like a group threat diamond i mean i have a bunch of group texts i know everybody's nobody's fool some stuff i don't wanna do that i don't feel like i need to do that but like if the threat is popping off tell me one time until i look i have had that happen and that is very frustrating where where suddenly a group thread that i'm on that i don't have notifications turned off and i i will give you another little we'll secret which is a lot of my group threads i've just turned off notifications i see the little alerts on my phone but i've turned off the haptic and all of that because it's because it will they're having other people are having a conversation and i'll get buzzed walking the dog and i'm at the dog park and my watch will will tap me like eight times in in the span of two minutes because other people are sending emojis to each other like i don't please unsubscribe me from everything here and it is yes i agree it needs to be smarter about like oh there's a conversation going on now you know you haven't tapped through to look at it so please leave it alone i wouldn't give up at dick's because as i like them when i've gotten to a happy place where my distractions are so minimized that i really wanna get tapped on my wrist when there's something going on but i agree if i was getting if i was on a group text and getting tapped every twenty seconds i would go bananas i would be like and that's why i've turned off notifications for some of my threats because you people stop i don't want to hear it and i feel like like i i feel like i've been begging apple for this for a long time please let me get grind ula yeah well any intelligence thing and i think apple does this with i message to a certain degree and that's actually part of the funny thing is that i think some of this may be eh that apple to enable this for for third party apps but maybe not maybe third party apps could do some of this on their own but like the intelligence to say i don't want to be notified like they they made lots of notification center updates on the phone but did i agree with you it does sort of feel like you need to notification more granular notification preferences for the watch like roll up all the alerts like if i get a second alert from the same slack channel or DM like i don't i i don't need it or i or within a certain period of time stop don't bombard me with this it's all part of the same thing one notification is all i need and then let's but it it doesn't seem to do that syria found to be most okay the race to told feature i really like and i'm still kind of getting my head around like when what how close you exactly you need it to amount to get it at work but i do like that feature the give me a moment type stuff is still a totally frustrating i don't understand why that happens when when it i've i've had good luck with syria lately on the watch where it's actually worked pretty well to do things like set timers which is most of what it is i've got like i've put meat on the grill and my hands are you know i'm trying not to touch anything with my hands until i can watch them and i will lift my wrist and i'll tell it to set a timer and that actually works most of the time but yes yes there is nothing more frustrating than having it do that kind of like luke where it's you know give me a moment i'm not able to listen and i don't know why that happens and it's really frustrating so i i would i would say that on the whole i've been happy with syria's well it i've found that i have not had issues where i've asked it to do something and it has misunderstood me when i can get it to to listen right like when when i when when it's executing the command it is getting correctly what i'm saying to it so i find that is you know someone who's been away from the watch for was something that continues to get better i have absolutely we know about real life complaints the wash lost a whole day for me i had one day radical twenty percent warning at like eleven pm but that's it i say this because it seems it's a bit of a mixed bag for a lotta people about the battery life i wanna know what your feelings are on it but for me as somebody who is who never had a series four right the i find the battery life to be great it's a whole day yep i agree i i have the larger model i've heard the complaints with the smaller model i also i think john syracuse's data point where his wife's a series four lost battery life on iowa's thirteen is interesting there are some other bugs at play here i haven't had a problem with it okay yeah so even though issues this i'm happy with that and that's great for me so i i don't know what my life is going to be like with the apple watch but i like it and but i i feel like i still need to get my head around the the notifications part like i actually i like it as a nice looking product and there's a nice watch and it's a bonus that i can interactive computer like ways but i i will follow up if and when i walk out how i'm going to be running this thing i might give the no haptic ago i don't know i'm still trying i'm doing doing the tweaking mode but but i do like it but the one thing that i have recognized is that idea of like give me one notification for compensation and that that's all i require an move on from that all right let's do some hashtag upgrade to finish out today's episode but first let me thank like a final sponsor of this week and that is our friends over at pinged them pinged him or amazing because they help keep the sites that you love online including your own own which is why you should be using them paying them monetary or sites you don't have to give you real time feedback so you know exactly what's going on the internet is awesome but stuff breaks all of the time they they detect over thirteen million outages every month that's one of four hundred thousand outages diana's just of the website that stepping monitoring said as more happening all the time time so many more artists it doesn't matter if you're a startup or fortune five hundred company you need alerts about critical website issues because if you put something online you want it to be available otherwise is why did you do it paying them we'll we'll let you customize how you're alerted depending on the severity of an outage and they also track and analyze your websites low time as and so you can see it was affecting user experience we paint them here at relay FM and every week we got a report about how the websites been in that kind of stuff so we know right we could just get report from this it's been like over the last week which is really is doesn't matter what type of website you have doesn't matter how big it is you need paying them they have no fuss approach to get started you just get the euro that you won't monitor they take care of everything else so dependent dot com slash really FM right now you'd get a fourteen day free trial of no credit card quiet and use the code upgrade at checkout and you get a wonderful wonderful thirty percent of your first boy so thanks to paint them but as supply of this show every laugh n. let's do some hashtag upgrade questions to try true delayed response on the lays there but i'm happy they finally came through his fusco income some crazy town crazy town asks last week i upgraded to an iphone eleven pro from seven plus us based on rumors about the twenty twenty iphone should i stick she'll ever tell my pro or stick with it or wait until next year now now this is a difficult question we get these kinds of questions a lot right and i wanted to talk about this you could wait forever for the next phone to come along yes yes if you like it just just keep it because look just one twenty i phone will be better than the twenty nine thousand nine hundred on the twenty twenty one i found we're in the twenty twenty iphone if you waited from seven plus to upgrade you must be loving your phone right now just give them a few years and upgrade again don focus awesome the future that much right unless you're like a few weeks away if you just bought an iphone after so many years don't return it now and get like another seven or whatever ever to wait for twenty twenty get your next iphone in twenty twenty three and be happy about the advances that you'll get then yeah i did i actually tested that i brought i pulled out an iphone seven tested it the speed test thing with a new iphone elevens and it's you know it's three times faster on single core and four times faster multi-car like it's a huge ten jump alone was a huge jump and seven is is preceding that so i agree with everything you said i think you should keep it i think next year yes will there be new iphones sure there will there will always be new iphones you have a seven it's probably time to go five g. is lurking next year but i think five g. is not going to be super relevant to people for a long time and i think honestly with seven imply i think you've waited long enough personally i mean if you joining back go back but i i would say you are always going to be in the boat of what about next year's model so don't worry about got it because i bet you in twenty twenty then people are going to say was apple's foldable case you just gonna keep going forever well you know that that meanchey roger quo is going going to have a report next july about what's in the twenty twenty one phones and everybody's going really well but the two thousand twenty one gonna have this feature and like yeah okay you just have to buy a phone on sometime there's always it's always going to be here here's the bad news everybody the technology you buy this year will be obsolete at some point in the future that's it that's how it was bad truth and there's nothing to be done about it david asks it seems weird to me that apple launched apple k. without an update to the apple TV given that the product is two years old do you think society apple is giving up on apple TV during a rethink that isn't ready or something else i feel like well i look the apple TV hardware as it currently is all that needs to be to run the games like it can handle them that way and i think apple putting arcade on the apple TV in the first place is a good sign of their belief in the apple TV product right i agree because they did i think the apple TV four k. doesn't i mean i'm sure they will update it at some point to put a faster processor in it but i think it's pretty good place and i agree with you mike i think that the fact that apple TV as part of their strategy for games is a is a good sign for apple TV and the apple TV hardware so i just don't think they feel they need to update it that that often and that it's good enough right now the four k. model and they only update the apple TV every every so often so it's just not i think it's fine i don't think i took liver today of an xbox one controller to power multi to try that whole experience out i'm going to go nice john says fotos has mixed up the people options on my devices and it now thinks that me and my brother the same person jason is there any way to fix this it it's bad i hate to say it but i think what you need to do is go to the people album and and select all and delete eight which will basically reset your people database and then it's going to rescan and you're going to need to take everything you could the other thing you could try to do is delete that person that is you and your brother and then go in and manually tag a bunch of things you and as your brother and see if that we'll feed into them right in the face scanner going back through but i might be about a better i stand point i walk but i think in the the end you may actually need to you may find that the right thing to do is to just delete the database and start again de kercheval asks would you sacrificed sacrifice the additional battery life on the current funds in exchange for the return of three touch i missed three touch because i think happens it touches slow and replaces but the battery life is more important than three touch in the grand scheme of things because especially because haptic touch can be made better apple can can tighten up they can tweak that i really hope that they do some stuff is just so slow like everything on the lock screen getting notification lock screen launching the camera it's slow an unreliable able and i want to see apple get better at that and i think that they can but i believe the battery life is a more important thing overall people would you agree i i agree completely i don't miss three touch much at all and the places where i do use they can tweak it a little bit and the battery life is more important that i think most apple knows for a fact that it's a feature most people did not use of everyone was using it they wouldn't have gotten rid of it so wild eric asks what are your thoughts on the clear case for the iphone eleven of us any clear cases i have i i mean i don't like them and bought a leather case for my iphone eleven pro so that tells you how i feel about the clerk aces jamie's got a clear case on in her iphone eleven yet we'll see how she how she likes it over time i mean the case trade off is always about protection i mean she she wants to see her purple iphone own and get it like if you wanna see it then then then you want and you wanna show it off like you wanna have the clear case i don't love it but i don't love that case regardless of whether it was clear or not i i just i don't want the feel of it i don't particularly like the look of it and so it's the case for me is as usual so i will say the clear the case has gotten more grief me i don't even want to think about why that's happened but it's less slippery oils in your skin are slowly denaturing the plastic i don't wanna talk about that right now but thank you yeah it's gone from your hands transferred to the okay and the puck it helps to right i'm not telling everybody to do that but that that is the thing that that i use the biggest problem with a clear case is that link it's an old boy it gets just it just gets everywhere and you can see extra phone cases case is clear but i really have midnight green iphone i wanna see and i don't know what casey didn't drop it so an inside look i don't want to talk about her right it's happens by the way my advice for casey who dropped his phone and broke the back of it is get the get the leather case and you won't even see that it's broken and you can live your life that's what i say i think he just needs to get fixed because that's wild it isn't gonna fix anyway last questions from john is related mike to pop socket sharpen frame when used the ultra-wide camera no it doesn't but my thing is to do sometimes which is kind of hilarious whenever you better hold the phone differently have you seen that like e that's my thing is but now i put my pop socket it's now over the apple logo because it goes in the middle of the phone and i never see my pocket in ultralight twenty two i know people are people ask me that so finn as as we put it though if you put it next to the camera then yeah you probably will but that seems like a terrible place to put pumps anyway if you'd like to send in a question i asked you on the show to send out a tweet with the hashtag ask upgrade and it will go into the document and we can pick it out for future consideration i'd like to oh wow malaises thank you the hashtag lasers this week yeah exactly and direct mail and fresh books for their support of this show don't forget you can still donate the saint jude go to saint jude dot org slash pineapple unethical as we finish this episode jason where two hundred ninety eight thousand two hundred and eighteen dollars so it feels very possible now that we will hit a three hundred thousand dollars so thank thank you so so so so so so much to everybody that has helped us raise that money for saint jude this month wanna find jason line six calls dot com you stephanie go there reach jason's iphone refund levin review awesome you can also find him at chase now j. e. double l. i am i mike i am winky social platforms you should follow me on instagram if you want to see see some of the photos i've been taking i didn't mention as well i took a picture of adena i don't feel this picture and it's quite possibly i think the best of ever taken as portrait mode a photo i absolutely love this camera jason i so good so good it makes me feel like such professional so yeah if you want more more of examples of the pictures that i'm taking you can go that i'm finding mobile photography to be coming

mike riley mr jason snow rafael rafael fifty dollars thousand dollar fifteen years ten percent two hundred ninety six thousan one thousand six hundred sixty seventy five thousand dollars thousand dollars thirty minutes twelve hours twenty years eight hours thirty days six months thirty day ten hours two hours
EOFIRE - 8 Steps to Super Success and 400% Growth with Clay Clark

Thrivetime Show | Business School without the BS

44:51 min | 2 months ago

EOFIRE - 8 Steps to Super Success and 400% Growth with Clay Clark

"On today's show. We're going to play audio. Featuring my recent interview on the entrepreneurs on fire podcast. That's top rated. I tunes podcast. Hosted by john lee dumas and again. The podcast is called entrepreneurs on fire on the entrepreneurs on fire podcast. They featured such such great guests as gary bainer. Chuck tony robbins. Tim ferriss and they've recently decided to have me on the show. And so i thought i would play the audio from my interview for my appearance on the entrepreneurs on fire podcast and during this particular show. We're discussing eight steps to super success and we're breaking down the four hundred percent growth of randy amazon's business called t. h. o. k. c. dot com again raid. Intricate has grown his company by four hundred percent in these past eighteen months. He's grown from two million dollar business to an eight million dollar business and we're going to break down specifically the steps that we had to take to transform his business from doing well doing really really really well all this more on. Today's edition of the thrive time show on your radio and podcast download. I'm shows don't need celebrity narrator to introduce the show this show two main eight kids co created by two different women thirteen multi million dollar businesses. Ladies and gentlemen. We'll come to thrive time. Shaw clay once again. Say hello to fire nation. Insure something interesting about yourself. The people don't know and you haven't shared yet. Hello fire nation. I'm clark and I was invited by the president of the united states and the white house to attend a deregulation summit. And i never thought that i would be invited to the white house for any purpose so that would be my fun fact. I have yet to share with. Most people has a pretty fun fact and fire nation. I know you're fired up because we're talking about the eight steps to super success in a four hundred percent growth with none other than clay clark and we also have a pretty cool guest. Randy will be introducing here soon as well. So clay as always. I just want to deliver maximum value as you always do so. What is that first step to achieving super success. What we have to get clarity on our goals for our f six life. And i think a lot of times we think about our life as just one area but you gotta think about your goals for your faith your goals for your family your goals for your finances your goals for your fitness friendship and fun again. You have to define your f six goals goals for your faith. Your family your finances. Your fitness your friendship and your fun. You have to think about that and ask yourself a tough question. How much does that cost. Because i know for me one of my companies. We cut men's hair and we do a lot of haircut. Today's the day. I want to generate ninety six thousand dollars a year from that business. That's what. I want to generate specific and i need to make i pay myself. Approximately two dollars per haircut for elephant in the room so the guy comes in we cut your hair and i pay myself two dollars per haircut and we have thousands of members but the business to serve me. I don't exist to serve the business. I'm not gonna build a business that traps me. I'm not gonna have a business that controls me a business that owns me. I'm going to own the business. And the business is just a vehicle to get me to where i want to go what i love is. You're just a numbers guy. You know the analytics. You know what has to work in order for it to work. You're very goal driven. So you know how to define goal so once our nation has sat down and defined our own goals. What is that next up. Well the next step is you got to once you once. You have those goals very clear in your mind a step one to find those goals. Step two as you've got to figure out what it costs you on a weekly basis to to get there and we we introduce today's guest on today's show. This guy does outdoor living okay. He does pergola patios outdoor chimney. Is that kind of thing. Really cool stuff but at the end of the day if he builds a pergola doesn't any money left. What was the point. So you've got to be able to figure out. How much profit are you gonna make per customer. And how many customers do you need per week to achieve your goals. I think a lot of times. John i think a lot of people are passionate about their business and they don't think about how much money they're going to make per transaction and sadly years ago i worked with a lady that made these unbelievable desserts. I won't mention any specifics. I'm not thrown under the bus. I'm just saying unbelievable desserts that tasted great and she said i need help marketing. And we got into the top of google. We grew the business unbelievable branding and every time i would bring up the numbers she would say. Don't worry about it. My accountant will handle that. It's like we're talking about. We're said we're quoting the the notorious b. i g no need to worry about that. My accountant will handle that. And what happens is is each month i would ask. I would ask a turns out if you can believe it at two dollars a cookie. She wasn't making more than ten cents per cookie. Now i ask you this. Her goals were to make over one hundred thousand dollars a year. How many cookies at tencent profit do you have to sell to make one hundred thousand dollars. We did the math. And i pointed out to her. I said you don't even have the oven capacity to ever achieve your goal. Let alone break. Even and i think a lotta times as entrepreneurs we put our passion in our vision and our branding and artem go and our drip emails and our and our website and our business cards all of that at the front but the forefront our vision works were excited and we never take the time to think. Am i making any money here. We never have that thought we just take time out. Take a sober moment go. How much money does cost me to achieve my goals. How much what cost. And how many transactions do i need to have per year to achieve that goal emma whole crew is lounge celebrating every day no more public housing and oh i just picked up right where you dropped it off. We're talking juicy. We're talking notorious. B i g klay unite about the same age man. We know that wouldn't in genesis. When i was broke man. I couldn't picture this picture. This oh that's great. Unbelievable is to memorize those lyrics while playing. Nhl ninety six on my second genesis. Take the same generation. We're almost saint person. I love this. Let's move on to number three which is implementation. I mean we've done the goals we've defined them. Yeah what is implementation lot of times. I don't get it and you don't get it and we don't get it but people will reach out to you. I'm john lee dumas. I want to advertise. I advertise on your program. You because i love your audience and your audience loves conferences. Okay but a lot of times people reach out for quote you give them a quote and then you never hear from so it's like sometimes people just want to gather knowledge and your listeners are great listeners. They would never do that. But you know other people and so what happens is one time we watched. Ted talks and we go. Simon sinek said that that was interesting. Your wife ask. Your husband asks your friends. What did you learn at the conference. That was interesting and you leave with a no pad filled with notes. That are interesting. And then you put that in the junk drawer with your double d batteries and your vcr manual. You cannot throw away the manual. No you can't you put it in there with the old cell phone charger. 'cause you're not gonna this drawer where you put things that you're never going to act upon you got cell phones old cell phone chargers you got an ipad box. Some of you all have ipad box. You haven't used that. What are you doing with you re gift using that box. The point is you did take your notes and you come back. You don't implement in jail d you're all about helping podcasters to actually grow an audience and i'm sure it frustrates. You frustrates me when somebody wants to help. But they're unwilling to pick up the hammer and hit the nail because they say. I hit my thumb. You go listen homeboy homegirl. You hit your thumb. But you've got to do it and if you hit your thumb often enough eventually you'll get better so we have to find his listeners. Right now somebody. I'm talking to somebody right now. Somebody is. it's you're talking to me. You are smart but you just keep ready aim ready aim ready aim aiming and really you have an entrepreneur you have to define act measure refine i repeat define act measure refined that. That's the rhythm define act measure refined. You have to reach out to somebody whether it be me or you jail d. or some other mentor. Who's clearly achieved success. And after you vetted them and verified and done your research you're gonna have to implement and implementation is all about activation. it's about doing not being just a hearer of these words. But a doer of these words. And that's the kind of people that i love to work with. And that's why we have such epic growth with our clients because when people reach out and schedule a thirteen point assessment my team vets them and i personally do all the assessments to find out ken. This person handle it. Is this person going to do it. And i think all your listeners can handle it but will they choose to handle it and by the way so many of you fire nation have reached out and actually gone through thirteen point assessment. And we're going in a lot of directions over this entire interview today so before we go into the next step clay. What is fire nation have to do to take the first step to get that thirteen point assessment complete or. We're going to do. we're going to go. To thrive time showed dot com forward slash e. o fire thrive time show dot com forward slash fire. And you and. I have so many people that listened to your show that listen to my show vice versa. A lotta people claim used to listen to your show and i listen to jail its audience. Then they go back and forth but when you go to thrive time show dot com slash fire. I have listed. Willie take on one hundred and sixty clients. Okay i've listed all one hundred sixty clients that we've worked with in the past year and you will see their first name their last name their web address and their growth rate. And so you can verify these people. And i'm telling our average client grew by one hundred and four percent last. So i'm telling you a better plumber. Code dot com. He grew by seventy nine percent. Jeff watson when i say christine anemic one of your listeners by the way cape cod auto body and detailing base in boston this lady loves lobster and she loves bill belichick and she loves growing business by sixty seven percent. You talk about stewart. Waco with accolade exteriors dot com grown by eight percent cat. Barbie grown by one hundred and forty percent with barbie cookies dot com brian t armstrong growing by eighty nine percent. I mean this is real talk real. I've been doing this since two thousand six real talk and so people say i have a job people. What's your job. I have a vocation and that's a calling a calling is where you feel called to do this. And when you grow up poor and you have the ability to help people become successful. That never ever gets old. Those testimonials are hot. To thrive time. Should i come forward slash e o fire to schedule at thirteen point assessment. It's going to be straight fire fire nation and remember these words define act measure refined and i. I love getting these emails from people that are listening to claes past shows. He's been on before and then going taking this thirteen point assessment connecting with him and some of the lucky ones becoming one of his one sixty and having that average one hundred and four percent growth over the course of a year massive massive stuff and clay. I love your phrase. You want to make sure your goals your values in the plan of your mentor. All align break that down for fire nation. What do you mean by that okay. Well when when working with randy who you guys will meet in just a minute. Randy reached out to us. He had a company has a company called. Pm h casey. He builds purtill is outdoor kitchen. These cool things and he was referral from his friend. Bronson and bronson's a great guy. He's a top selling insurance agent guy. And i met i met randy. I'm going okay. This guy is. He has the same freedom loving values i have. He believes in the constitution. He loves his wife loves his family and believes the business should be a vehicle to create financial freedom and time freedom to to help these people. He didn't have nefarious goals. He didn't say my goal is to dominate the universe into destroy humanity. I mean he wasn't like doctor. Evil it wasn't like my girl is to dominate and destroy the cookie companies might down. I mean there are people that do reach out who have weird nefarious. We've we've all met these weird people everybody has. We've all met a doctor in our life. So i sit down with people and i go over their goals and i would say with your listeners. I would say so. Far two thirds of the people who've reached out share my same values but there are some people that have reached out who say what i want to do. Is i want to grow my business. But i don't want to manage any people. And i don't buy into daytime hours or calendars and i'll say excuse me. I just don't do daytime or calendars and i don't do people but what i wanna do. Is i want to make millions of dollars auto shipping supplements that i am i that i'm going to white label and i say i know you can have success but if you're getting a supplement that you can white label in ten minutes and everybody else can to may be scalable. Maybe not do and i'm different and your different john. We take people's money. I don't wanna take somebody's money and that's why our program as much to month there's no contract it's a month to month and people are walking billboard for me so if you're running around town going on i played i played clark thousands of dollars and he hasn't grown my business at all. That's not good for me. So i don't want to work with anybody unless they're a good fit and thankfully your listeners. Know about the energy and the focus needed to have success because they listened to your shows. And they've heard your interviews with tim ferriss and tony robbins and so many great people you've had on your show. They they buy into the work ethic. They know your story about how you started your podcast with an audience consisting of you and maybe one other person that you paid to listen to your show and you just kept recording every day and you grew that thing so your listeners by the diligence. I just say if you're a diligent doer. You're gonna love what we do but man if if you're somebody that just wants to sit back and sit my ties and that you can auto ship your way to success with doing no effort at all dude. Please don't call me fire nation. You can't take the heat. Get that booty out of the kitchen. Because we're on a mission and we have some killer killer value bombs coming up as soon as we get back from facon our sponsors so klay. We're back and listen. Trust is important. We all know that. But why must we also verify. Okay well step five. This is this is big is we want to look for testimonials references case studies and a trail of success. Randy always says you know you have to earn the right to criticize. I would just say this. I agree with that that phrase only the paranoid survive. Andy grove said that. Andy grove is the co founder of intel who escaped the communist controlled hungary at the age of twenty and bill intel. And he points out. Listen just because. I'm giving you a photo of jail. Jd totally transparent. I've never taken a photo with you. So i couldn't do this but let's just say i did. I kind of photo bomb. You and i'm like look over there squirrel and all of a sudden you see a puerto rican squirrel and i jump in and i take a photo of us real fast. Just a lot of people that do that. So don't just trust a photo with a celebrity. Don't just trust well. You know. I've done a lot of work with mcdonald's and hewitt packard and i'm just throwing out big companies and i did some work with chamber and i did i offer someone talks like that. Probably just wrap up the call. But i've done a lot of work with mcdonald's and the because people hide behind big logos as seen on fox. When were you on fox. Oh stop it. So don't buy into the scam. Mockery the fake photos. Don't do that. The fake number of tweets at twitter followers. I've got about ten thousand twitter followers. I don't have a million. And i'll tell you why because a lot of people aren't diligent doers and they don't want to be accessible and you know if you if you don't want to implement and you just want to like what i post feel good about your life. You won't like me but if you're somebody who's a diligent doer Tribes pretty loyal. But you know this jail you can pay for fake followers and fake this and fake that and so you gotta call real references talked to real customers call verify so many people are shocked when they reach out to me for a thirteen point assessment that i actually am on the call and then i actually freely give out the cell phone numbers of all my clients. And they're like i can't. I can't believe you did that. Let's trust but verify everybody including me fire nation so true on every single level. You see these people that are millions sometimes. This grand followers literally could be bought overnight. It's just one of those realities is out there in the world. Trust people who you do trust like hopefully myself included in that category but also verify also verify now moving onto number six where most people go wrong when it comes to achieving success. Where is that clay. Well it's when we implement passively so when working with randy with his company pm h okay. See i gave randy a path and let me tell you how detailed the path is the path easy about seventeen to eighteen pages. Long takes me five to six hours. You could call it a blueprint. Okay and i freely. Give this out to people. After doing an assessment randy lit up like a christmas tree. Like a kid. Who sees the christmas tree the night before christmas. And it's like if this path works. Will we have success and you go. Yeah and because he knew of me through a friend this dude. I told him i said. Listen in order to get to the top google. There's four variables we have to implement. Okay and by the way you're listening right now. Please take notes on this and you can download free e book right now. If you'll shoot me an email to info at thrive time should come influence drive time. Show dot com. I'll give you the book that lays out for you but there are four variables that get you to the top of google. So if any of your listeners will type into google search right now for joplin gems j. o. P. l. i. n. gyms at the g. y. Ms or do a search for a pergola. oh. Casey pergola p. e. r. g. o. l. a. And it's okay. I'll i'll wait for you. Search real quick. I'll just wait. Let him first second type in. Joplin gyms joplin shifts or or take them type in. Okay see pergola or or do both. I mean you can do both and do both. You're gonna see that randy's company pm okay see comes up top and you're going to see that colo fitness one of my clients comes up top. These two clients come up top. Why told ready to get to the top. Google you have to do four things four things. Are you have to get the most objective. Google reviews from happy customers. He says i'll do it. Not only did he do it jail d. But he did it in record time to. I said you gotta have the most content and he says okay. Well how do you do that. We taught him how to do it. He and his team wrote content. We wrote content boom point three. Your website has to be economically compliant and has to follow google's rules and he says okay you do that for me. We'll do we did it. Boom and then point four said it to be mobile compliant because so many people are using mobile devices for everything so trial and he did it. He did it. I said we got go video. I walked them through nextstep video testimonials and he did it next. Step we gotta make a sales script to one sheet all these things and he already had the fundamentals all he needed was some basic systems and processes and it took off because this just in his products are good. And i don't want to skip that part because some people have products. That are not good in this justin. If your products are not good people aren't gonna come back. Okay so we gotta have great promise clay just just just back up a little bit there. You cut off for about three seconds just right back like one centers prior. Oh sure you're out there. And you have a product or service no matter how much marketing and branding and energy put into it. You have to have a great product. You can't over brand your way past a bad product. Okay so people. If you're someone finds you on google by typing and okay see purgas when you install the pergola. They're going to have to look good. Otherwise people are not gonna come back. You gotta gotta while the customer fire nation. Wow the customer. Like i have so many people in podcasts paradise when they're looking to go all into like john i'm going to spend like three or four thousand dollars a month on facebook gas. Listen to my podcast. And i'm going to do this now. They have all these different plans. And guess what. I go listen to the podcast and it sucks and i'm like why don't you. I spend the time energy and effort becoming a good podcast host honing your skills learning how to interview learning how to actually create good content. Because you can spend all the money in the world getting all the listeners in the world. they're not coming back. refer to your podcast gonna recommend it. They're not going to do the subscription leave review. All things need to do. That's the core thing. Don't you come in. I love the gop. I'm sorry why don't you tell. When are you coming to tulsa when you coming visiting when when i get a plane ticket in the mouth me brother dude you gotta come to tulsa. Because i feel like if you came to my conference center you would. It would be like. Oh it'll be like you'll feel like you're in puerto rico minus the ocean views. You're going to love it. i'll come to your center. I'll i'm ready seriously. Okay we get off your. We'll range a time. Because i so many people say clay when i came to your conference center. That's when i got it when you see like twenty thousand square foot building with testimonials on the walls from clients since two thousand six handwritten. Thank you notes. We have a crazy program called bulwark for yi's jail. Where i tell my clients it's better to give than receive a lot of my clients become millionaires and they start to feel bad because i like man. I'm making a ton of money. It's like i should be given back and say yeah you gotta ship me a pair of yeezy. Since i've got easy boxes all over the walls. Thank you notes. Notable quotable lls it. Is it really is. It's not probably as swag delicious as your backyard. But it's right there. It's beautiful you're gonna love it well as soon as i get randy to create a pergola backyard than that. It will be delicious for sure. We're going to bring a randy on here pretty quickly. Because you klay believe in putting the blinders on and just focusing on implementing and this is you know after you've found your in approving plan. So what is the value of putting the blinders on and focusing on implementation. Okay well blinders. Are where chet holmes the bestselling author of the ultimate sales machine. He said the missing ingredient for nearly all of the one thousand plus clients. I've worked with directly to improve their businesses pigheaded discipline and determination you might call that the phd pigheaded discipline and determination. We all get good ideas from seminars. And from books radio talk show and business building gurus. The problem is that most companies do not know how to identify and adapt the best ideas to their business implementation. Not ideas is the real key to success. Or thomas edison. We couldn't get him here because he's dead. But the man who started and built the light bulb and recorded audio. He said vision without execution. Is hallucination so just today. i'm pulling my calendar up today. I'm doing an interview with you today. Which i'm so honored to be here with you. I did an interview today at twelve thirty with dr richard. Bartlett the former top adviser for governor perry of texas for seven consecutive years top medical adviser. I'd interview with the sergeant at arms walter west. I'm doing interview with senator bob hill. I'm i've got four interviews today and let me tell you what i'm doing. I'm doing those four hundred years. I am mentally and physically only doing those interviews. I'm not updating my twitter status. i'm not text. messaging my lady for life is a beautiful woman. We've been married. Twenty years. I wanna texture right now but i'm not. I'm not taking calls for my kids. I'm not distracted. And so many people live in this dystopia called perpetual distraction according to psychology today. Someone should look this up. The articles called is your smartphone. Dumb check this out. Is your smartphone. Making the average person is interrupted now over one hundred times per day and according to inc magazine. Check this out with you get even one interruption. Fast company says this to check this out psychology today. Says this check this out if you can even one interruption. They're saying it usually takes twenty between ten and twenty minutes to refocus to remember what you were talking about so imagine what it would be like doing interview with me. If we're talking. And i i would say hey wait wait a minute sorry i gotta go chase a squirrel that hey joe my bad. My wife's calling. Hey would it happen. I just got a call. I mean you know we will zoom call with the guy who's in the bathroom and trying to play it off like he's not in the bathroom come on. We've all done a conference call with the guy who hit some you while he goes through the drive thru and pretend like he's not doing that. We've all been golfing with that dude. Who insists on making cold calls. Taking calls did a doodoo to do while wack in the ball. We've all been to the movie theater with the guy that thinks. The movie is interactive who warns the gas warns. Other guests. Like look out. Oh look has a lightsaber. what's he do. We've all been with these distracted people and it makes impossible to do life man. I mean fire nation. I hope some of you just got hit to the core for being exposed You know listen. It's a reality that a lot of us have to deal with. Distractions is pretty much. Almost everybody else's number one job is to somehow distracting to get. Our attention is to take our focus off of something and look at them. Look their product their service and it's just one of those realities fire nation. Look what claes doing today for quality interviews. He's focused. Clay is number five not to call you clay but your number five of eight interviews that i'm doing today and guess twice in my. This is my super bowl in my. Hey real quick kanye west and his new album. Jesus is king one of the lines. He says in the song follow. God is he says i mean i'm just focused and he pauses. He's again. I mean i'm just focused. He's pausing i mean i'm just focused. He said it multiple times focus means focus on core tasks until success. All right. so. I build america's largest dj entertainment company for weddings dj connection dot com. All i did was focused on growing. Dj connection dot com to do four thousand events per year or recently with this whole covert thing. I have realized. Hey look there's a lot of misinformation coming out there. So what i have to do is i need to start a conversation with people that know the truth so i've reached out to a to a us housing secretary. Ben carson had him on my show talking about covid nineteen. I've dr richard bartlett on my show talking about covert nineteen. I had dr knife. Chief talked about covid nineteen dr. Dan erickson the famous doctor. Who keeps getting banned from you to youtube talking about kobe. Nineteen the white house. Press secretary talking about covid nineteen and you go man. Apparently you want to know about covid. Nineteen i don't want to but it's hard to have a business that's open if you're forced to be closed right. I mean that's my theory. I'm working on jail. If you're not open you'll probably be closed. So i've just obsessively focused on interviewing doctors. And i've had so many my listeners. Did i've never heard more medical knowledge on one podcast. Then your podcast recently. And i'm like well man. I'm my listeners are asking. Hey what can i get a treatment i wanna. I don't wanna die. Where can i get a prophylactic. Where can i get a treatment. And i'm talking about udeze i'd pulmicort nebulizers. It's for two hundred and thirty seven dollars. By the way folks pulmicort nebulizer pedestrian. I'd and a z. Pack has caused zero patient fatalities when used on thousands of patients. That's a crazy. fun fact. Zero percents a pretty low number. And i've had my listeners reaching out to me it's like i'm a drug dealer of fda approved drugs where i make zero commission. It's a fabulous thing. I'm just telling you gotta focus. Focus fire nation so casts and number eight clay as we wrap up the eight steps. Here is your phrase which i love. You must surround yourself with a competent team. If you want to fulfill the dream. I love it because it's right. I love it because it rhymes. What do you mean. Well i mean some people And this is how i work. Some people say. I can't listen to it unless it's in the bible. So i'm going to give that to this person it's proverbs. Thirteen twenty says walk with the wise and become wise for companion of fools suffers harm. So that's where you biblical people out there that you do christians like myself. Some people say if it's in the bible. I can't hear i now. I'm not i'm not. I'm not into that okay. Cool well tim ferriss said you become the average of the five people you spend the most time with why find a lot of entrepreneurs like randy with pm h okay. See or charles colo. Colo fitness dot com or josh was living water irrigation. Okay dot com three great listeners. Living water irrigation. Okay dot com again. By the way sean homes dot com. We had on a previous show. The first year. I started coaching with jail heated. Twenty four million dollars of sales the whole year. He did seventeen point two million dollars of sales this month. Shaw homes dot com real talk but these people. They don't have a video offer. They don't have a photographer. they don't have a web developer. They don't have an online ad manager. They don't have a content writer. They don't have a public relations team. And so i say look for seventeen hundred dollars a month if you're a client. We're going to do all of that. So when you say how. Josh living water irrigation. Get on the kelly clarkson show well he is. I him we did it. You say well how did show a homes become the the people giving away the saint jude home. How did they end up on the news. Well we did the pr. Well how did they end up. Top and google. What we did the web development. He say you mean you get all that for seventeen hundred dollars a month to month. What's the catch well. Currently i don't know what the catch jail because my wife tells me i should charge more and i don't i don't feel happy. Spot seven hundred dollars a month. Clients are happy. I'm happy it's a win win. And it's just a fabulous thing so we're going to surround you with a great team but if you're not there today and you're working with a and he says jail d you got to update your website and you don't have a team jail. You remember that when you were first produced in your podcast and building your site and you didn't have any competent people to outsource to. When you first started you could probably what spent a whole day. Trying to make your mic work. One day. i remember that spent an entire day. When i was building my purse business trying to update a website thing and then it crashing it and spent a whole day trying to edit a video only to discover that you export it where it's like too small to fit the frame so it looks bizarre or the or the words. Don't match those like a jackie chan movie or something. I mean if you need a team. Go to thrive time show dot com slash e. Oh fire at drive. Time show dot com slash e. Oh fire research. Our clients schedule a thirteen point assessment. Your life will never be the same again. And i mean it will never be the same fire nation and there are so many of you who have already experienced that in the flesh in person so if somebody who hasn't why not be experts and take that step up so clay we have randy. He's been very patient. He's been hanging around so we've him in how you wanna. We've him and shortly slowly. Slow things down. We'll randy you have attended. I'm not gonna mention the names of these people because people are great people but you had previous to running into me. Had you attended a lotta self help seminars. In the past yeah well first off clay. Thanks for having me Yeah i. I've been to several tony robbins. Just other little conferences around and it's just not even comparable. Now tony helps you get the right. Mindset is my understanding you learn the some of the skills and those processes but when bronson told you did did bronson tell you about that how that worked. Yeah bronson brought me to this conference and honestly whenever i first came. I was still skeptical. Just because i know what most of these things are and bronson is one of my best friends and so You know really He did all the vetting for me. He just brought me. And it was just completely life-changing now when we went to pm h dot com. Some of the listeners just went to pm h okay see dot com. And they're looking. They're seeing outdoor kitchens. Pergola is. how long have you been. How long have you been business before you ran into me. So we've been with each other about a year and a half. And i was in business for about fourteen and a half years right before i met with you and so we're close to that sixteen year mark right now former a firefighter union wife work together. And i believe we've had several weeks this year. If i'm exaggerating jailed is going to call me out and you can too okay. But i feel like we we have. We have several weeks in a row. Where your sales per week are like two hundred thousand dollars a week. Two hundred and fifty thousand a week. Three hundred thousand and then we had a three fifty seven a week. I mean we're having hundred fire nation. Listen to this three hundred thousand dollars a week of sales. Where were you at before running in us because you'd already built quite impressive thing. Well you know we were on pace for about two million a year. When i've met with you you know beginning of last year and we ended up hitting about four million dollars a year so we played some major catch up right there in the year and really i attribute almost all of that to all of the systems that we implemented and this year. Obviously kobe has scared people away from building some things. It's also encouraged a lot of people to buy things and by the way he has brand called patio. Galaxy dot com patio galaxy dot com. Where he makes these awesome cedar tv enclosures. And we're having people from all over the country now buying those from you which is cool because some people are staying at home. They're turning the backyard into a station. But what do you think you're on pace to hit this year. At this point. I get between. We're almost at the time of this recording. We're talking september. Where do you think you'll end up for the year yet clay. I was looking at the numbers just last week. And we're on pace to go past eight million this year so from two million to eight is where we're headed with that jail. The i think. I'll open it up for you to ask any questions. Because you are a great interviewer. Who's also a little bit of a skeptic from time to time which is great because i don't want to be spouting some hyperbole to the to the fire nation. Why we'll say this. I love when i hear success stories like this but one thing that always pops into my mind in this is for you randy. Which is if you're looking back. You know going from two to eight million. What was one of the specific things that you did. You look back. You think had the biggest leverage the biggest change in really kind of getting you to that next level. Well that's an easy one for me. I mean with hands down. It was getting top of google and going into the conference. That was one of that was one of the main things that we was really taught and i think when i heard all the stuff that clay taught about getting top of google i thought i i stopped listening at some point and i was just focused in on like i gotta get top google and that goes into google reviews and all that but freeing up my time with group interview so i can focus more on getting top of group interview. I want to make sure jail the listeners. Get this today at five thirty central so about three hours from now i'm going to interview. I want everyone to picture this. I'm going to interview forty plus real adults at the same time in my building. Forty people and i will do the entire interview in less than forty five minutes and that is what a group interview is. Were you interview. Forty five people in less than forty five minutes and it is awesome is wow so that getting to the top of google was a big thing but i know what a lot of people struggle with and this is you know where i'm really seeing people be able to make that next leap in the next step in their business is what you actually do when you get leads and like so many people just let these lease wither and die on vine. So did you and clay set up some kind of system to really maximize these leaser coming in. Now that you're number one on google or to chime in on this real quick. I'll let randi goes there. Randy's alpha like randy's alpha so when randy gets a mouse aka lead he assumes that you actually wanna pergola so watch out i mean you'll you'll call them right away won't you. I mean yeah. I'm a salesman by nature and so sales comes easy for me but you know one of the things that really helped me out and you know it doesn't matter how good of a salesman you're out doesn't care doesn't matter how long you've been in business really what i learned from clay from that side of it and this is what i really did with. The leads was the tracking that we implemented and so from the very get go with clay. He said hey. You're doing great but you know. How many leads did you have last week. How many Settled that you have. And so we wasn't really tracking all of that. We started this tracking sheet and not just tracking on cells. But i mean just every single little things. Google reviews leads photo. Adspend yeah add span and so all these things combined it just you know you measure what you. Treasure is what clay says all the time and we started that tracking sheet and seen the growth is. It's been crazy to look at every week on a weekly basis. Now jail the i was going to point out something. I advertise on your show for our conferences. Only have one hundred and sixty griots spots so conferences is kind of the thrust of. Why advertise with you. And my wife. And i love your show. I think cates great. I think you're greatest predicates nicer than you. You're you're nice but she's really nice. She's nicer than your couple. You served in the military. I've got all the reasons why i want to do. Business with you but at the end of the day. I got to bring in more money than i'm paying you. I mean that's what it comes down to bring in more money than i'm paying you and i'm not going to share this air. How much. I'm spending with you. But i would say. It is a significant portion. A significant amount for many people for many. It could be considered massive. Someone not maybe as much for others. But it's a lot of money. And i can tell you every month every quarter it's every month. Kate will check in and just make sure that we're happy and i can say this. I have never been happier with an advertisement. I have ever done in my entire life ever ever ever. Because you actually track you. Follow up and i know what the break even point is and i'm telling you listeners. My secret sauce. Okay the tickets to a conference on average are two hundred and fifty dollars and i got a sell a certain number of two hundred and fifty packages to break even okay. So let's just ask a thousand a month with you. Which i don't let's say i did. That would mean i'd have to sell four tickets just to break even and we don't have any upsells. We don't have a magic money system. We don't have any upsells. There's no selling. So i've done the math and we do do far better than break even and i'm honored to be a partner with you on the advertising side. I'll probably never stop doing that. Because the tracking just makes sense. Your audience is so loyal because you've been loyal to them. Well clay. i mean this is music to my ears because this is what we consider the perfect partnership were. I can have you on the show every few months. And we can promote your product services and conferences and know that our audience fire nation is going to be in such great hands and have their businesses explode their minds explode with just brilliance and knowledge in all the things that ranged experiencing the ran has been sharing. And i just love all of that so clay. Why don't you take this home. How do you want to wrap up this episode. we're gonna make sure the fire. Nation knows all about the thirty point assessment about the conferences. Coming up that by the way sounds like maybe coming too. So let's let's talk about this by the way if you do come on fly on a premium southwest airlines flight and i'm gonna get you at least two or three drink tickets so you can if you sip on the drink. You don't have to wear a mask so if you just sip little pack did you sip. I'm still working on still working on it still wearing anyway. So my three capstone dots. I want to give the listeners. Here this is one i believe. Genesis one twenty seven is correct from the bible when it states so god created man in his own image in the image of god in the image of god created him male and female created. He them when i'm saying is we're all created in god's image. I don't think anybody out there is a mistake point one. I don't think anybody out there's a mistake point one. I'm talking to somebody right now. Who didn't have a dad who didn't have a mom who did have a mom or dad grew up in poverty. You grew up out like me you grew. I stuttered as a kid okay. I couldn't talk very well. We had no money and listen. Somebody thinks you've got forgotten. I'm here to tell you you're going to have massive success whether you hire me or not. You were created in his image. You are not a mistake. Point number two now that we know we are significant. We have to decide. Are we going to try to build a house without a blueprint. Are we going to try to make cookies without a recipe. Are we going to try to reinvent the wheel. Why would you do that. Why would you do that when you have a proven path. So you gotta find a proven. Pathfinder mentor find. A coach. finds somebody if you find us we can help you. That's great if not. That's great if you want to become the world's best podcasters call j. l. d. do and learn how to grow a business. Call me whatever it will help you. Okay point number three. Don't trust me please please. That's the problem right now. We watch cnn. We watch fox were watching abc. We're watching and you're going okay. My speed true cuomo must be true. Okay this makes. Okay i mean. Do you think that people have agendas. Do you not think people have agendas. I mean come on now so we got a research. Don't just skim so go. To thrive time show dot com forward slash e. Oh fire go. To thrive time show dot com forward slash fire and go there with urgency. Like you'll be dead soon because by the way you will be okay. Go to thrive show dot com slash. Go fire and then look at the testimonials wrestle with them research him look at the stats at the data. Call us schedule. Thirteen point assessment. Let's get serious and we have a scholarship available for people in need. And i'm proud to say a guy who you've had on your show the grill blazer dot com grill blazer dot com. That guy went from an engineer. You by the way. Bob has cancer. He's got all these reasons to say. He couldn't do it but he did it. He reached out. And bob has grown from a startup. He's an engineer in his late. Fifties with an idea and a prototype. We helped him raise a half million dollars kickstarter. And now bob is selling over forty thousand dollars every week at a fifty percent profit margin jail. The that guy's making every week twenty grand if you make twenty grand every week that's a million bucks a year you can do it. Let's do it. Go to thrive time show dot com forward slash e o fire clay. Thank you brother for sharing your truth. Your knowledge your energy your fire with fire nation today for that brother we salute you. And we'll catch you on the flip side you're american and now without further ado three what.

four hundred percent tim ferriss randy john lee dumas google two dollars four percent one hundred thousand dollars Randy gary bainer Chuck tony robbins randy amazon two million dollar eight million dollar clark Shaw clay ninety six thousand dollars bronson Andy grove seventy nine percent
Crew Show: All about PCOTY

The Smoking Tire

2:06:24 hr | 1 year ago

Crew Show: All about PCOTY

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just read codes you can view view live data from your vehicle rita freeze frame and mode six do a smog check not a certification you can't do that but you can see in save time and see if your car is going to pass smog smog stay up to date on recalls and service bulletins and much more it's like having a little electronic technician living in your drawer and that's why blue driver for is the best selling scan tool on amazon go over there and read those reviews apparently by real people so they say for a limited time take advantage of the smoke among tire offer visit blue driver dot com slash TST to get ten percent off the blue driver pro scan tool don't let your car troubles be mystery again get blue driver today and get ten percent off the blue drivers scan tool at blue driver dot com slash t. s. t. we all right folks on this episode of the podcast i'm in studio vinnie rousseau i have been on the road for the last two weeks driving being thirteen different cars vinnie went on the road to buy back his old cadillac that he had sold a couple of years ago and now he's i got it back we've got construction updates and we're basically going through all that stuff and also i haven't really done show since carl died so we're probably talking about karl because i just did that intro last time and a lot of good things i mean other than carl actually dying but there's been a lot of love it's been great and so that's been that's been comforting all right mean vinnie in studio podcast it's it's the mother fucking smoking tire podcast we live i have been on the road for two entire weeks and so we really haven't done a real show in a while vinnie russo in the studio ooh fresh off the return trip buying back his old cadillac now that is delightful as cool gives us a picture of the fucking the sixty five th is a sixty five or sixty sixty five sixty five yeah the vinnie vinnie's cadillac is so vinnie like this is the most of any any russo car because it really it's tasteful but it really brings out your floor dennis and hinted guido with a hint lido and a slice of gumbo and a hint of st- when you drop it on the bags tell me tell the people who aren't looking at the photo about your cadillac a us us white sixty five calais which is basically it's a two version of the coupe deville so i had bought the same length as the four door versions the few inches longer than a chevy suburban but it's a two door when a picture that i think the mike estimated quarter panels or about eight feet long is it shorter or longer longer than the dates than like the daytona it's actually might that was one of the things mike was looking it's actually a little bit longer than daytona daytonas gac like little over two hundred inches inches and this this is a little over that tony was like two oh two yeah i saw it wouldn't fit in his garage in the daytona fits in his garage garage and it won't fit in my garage i mean will it will but turns my four car garage into a three car garage it takes it takes up more than have like a west side like like it needs a tandem it might actually don't know if it will fit on the racks although i'm hoping you drive it enough that it won't we won't have to drive it a lot of this whole thing is it's not a show car it's a it's a good ten-footer its original means fifty however in fifty four years old and it's all other than the bags and the wheels that got from detroit steel wheels ride tech bags everything else is there and it all works so i pulled up the stock one stock one profile fan the more of the the philadelphia show law so long and also yours i mean holy shit to the wheels make a difference difference wheels extort extort and the height i mean it's at the right stance eight body trunk that's delightful back in the day hannah went to went to dinner with vinny in this and we went to go by the million mile lexus florida and man you roll out to dinner in this fuck and fire there is all the shows that i go to no matter where you bring that car it's it's it just stops traffic so i bought a few years ago and i i sold it to big chris from gas monkey garage because the audience knows big chris the audience no big chris chris is from england and was like a huge mo par drag racer the the UK which is odd but he was and he owned a very famous car to pocar yeah i think he owned the show what was can you find the contract napa drag car he recently relocated to remember what would it be yes or he moved to dallas and he's working with the gas monkey garage big tall goofy looking guy was was well he'll do a cameo on the show and so while fucking richard by the way as has happened so you know what happens we record the show typically we have conversations we go home a completely forget what we talked about and then like three weeks later my twitter twitter blows up with some shit and i go what is even about well we were talking about the thomas crown affair i don't know if you were here no and the thomas crown affair mustang do you remember when he goes to his private island and there he has a safari must shelby GT five hundred yeah i don't know if it's the original one but richard got to do because he rebuilt the replica a while is that has had that car for a really really long time back when we do the bull run with him he actually he's still had two car garage i didn't realize he's had it for that long it is the coolest if you're out to dallas between him and dennis collinses cars you you really need to take not just the gas monkeys dennis's personal cars enriches personal cars they got some cool stuff there richard has surprisingly good taste haste actually in stuff he really does i know that people don't like that black f forty they did yeah i thought like considering they started with a straight crashed ashed call on yeah or the or the bag for GT everybody was like oh my dad by wouldn't i mean that's definitely a look this is bro zach pulled picture i mean is there a better GTI hundred in the world then a fucking caged convertible safari GT not five hundred with some fucking big ass casey's on the bar so good kenneth spare on the on the trunk link that doesn't give credit i don't know what will i mean that's sir that is just the best isn't it yeah so who's phone is apps fucking rousseau i thought we always thought you turned off but you didn't i not didn't but yeah so that's fucking cool so big chris bought your respondent wouldn't fit in my garage and florida it was getting ruined even with the seven hundred hundred dollar car craft cover i put on and it was still the the salt air was starting to kind of get a little bit and i didn't want to ruin chris bought him and his wife picked it up in florida drove it the two dallas over four days and how did there for a couple years and he just really wasn't using it solely to another friend of his in chico which is just north of sacramento and that guy picked it up and then he drove it from dallas up there so this car is literally drew driven cross country with absolutely zero issues i picked got it up between driving it down to his house and then back down home another six hundred miles i put on sunday but did you pick it up turn the key driving again and that was it did absolutely nothing how many miles on it now one eleven how many sell it with one or two okay as good yeah so three thousand that was cross country so what does it mean doesn't eat anything now i'm going to go through to update a couple of things are going to talk to your friends over accu air and sea updating the trucks for the call reno dude so i yes i do yeah i mean i've got like i got a regular switch box in the air bag so i don't have all the fun electron executor can use i thought about doing that and then mob steel is gonna give me some updated artillery artillery wheels because those wheels that are on that car actually the very first detroit CO wheels that were available to the public i got the very first set so time to update it for a little bit new style and other anatomy gonna pimp the hell out of what is what's the new wheel look like detroit steeles steele it's got a little bit of a cutout around the edge i just little just a little notches give it a little bit of a more lucrative as smooth stick with black yeah yeah black with god is good i would say like you could also do the kind kind of like the color of the middle one well that they have the which which was that's the artillery different with little squares not quite wagon wheel as looking there's another one little squares that you could also do it like a dark gray down blue so but also do blue i mean you could actually have a picture of one with with done moon chrome it's think if it was a powder coat blue and it was not super blinking really dark blue maybe what what color is the interior seafoam green blue you wouldn't know seafoam green royal blue it's a lighter later you can picture that cadillac g. m. blue lighter as like okay pretty common color yeah it's fucking nice though it's a it's a good great driver it's just a cool car just to drive i can take it out now worry about you know somehow to ramp by accident i i i was by myself i couldn't videotape when i ran down the ramp complete because honestly no i ran full low i don't get all the way almighty god as low as i could get the car so i didn't have to open the gate anymore that i had to there's there's a story there so construction update it's going really well over there construction the the the gate to the basement is it's the kind of fucking gate security the gas heavy security gate but we we don't have power yet and so you know we have power that we're like tapped into the fucking utility poles for lights and stuff construction lights and tools but we don't like i don't have real power like like in a couple of weeks actually digging up the street to give me power because they have to run it underground yeah and so you know the gate is meant to have an electric motors no big deal except it's not connected yet so it has a hand chain that's like a emergency backup th the ratio is about five hall down is about a quarter of an inch movement at this time last night i had to open i had open at high enough to get like cayenne in there and it took me about two minutes and forty seconds of strength training it's a heavy geared so low crazy like yeah yeah so vinnie vinnie vinnie driving under the game with the caddy fucking slammed lamb does actually quite a practical thing to be doing your the other practicing with air bags in that this is really hard to steal the car steel wheels because you can't get a jacket underneath it so i had a lot of friends back in florida and south florida that they were just there bagging their trucks from the twenty four has got big just because you couldn't steal them just on the frame you'd have to break into the car figuring out you're ride works to steal the wheels and you just couldn't do it that's funny that'd be a security feature for like the ride companies if you can't use the app on your phone you can't let the car can they tell you either not really no strike frame the car right up if they tried wouldn't if if to- guy would probably get if you don't think you could boot that car either because i've got covers over the back wheel is the spat yeah you could put the front you only have boot one year but low i don't think you can get a boot in between the front fender maybe not if you can't be close someone tried who's got a boot three advice just do it but anyway so that was fun i must oh and he bought some new toys you get to see all his stuff in she bought at bronco din you've bronco yeah bronco but black it was pretty good he sent me a picture of it as as artists instagram yet no i don't think so why not because he's not done with it yet it fucking should be yeah it it was a nice like ninety something yeah late nineties mid nineties and it was great except it had them stupid ugly chrome mhm wheel arch things which is it on his instagram thinks oh no what we've got a better french out of the car uh of any scar great tana's driving back that's all the car needs it's easy to sit right and have some good deals you need to do anything else that's just awesome awesome dropping it like you know these are like the dog dish kind of hubcaps and white walls like all right i mean it's got such cool shape it's like really great presence yeah so so big so big it's like you don't see these a lot in LA because soho practical but if i averaged nine miles per gallon only on also why you don't see them very much yeah that's what was your cruising speed eighty five ninety eighty five ninety the carl do i've had it up to one ten that's about the fastest is out ever push that things like sketch like ninety eight eight eight nine depending on the traffic and stuff like that we took the one on one back and just kind of chilled but gas prices going up somebody asked me the gas mileage some what breaks aren't still drum brakes but that's actually i my list here there's there's a place here in LA that specializes in conversions for discs so i'm going to drop it off next week i'm taking it to the PAC event the porsche korean truant center this weekend next week i'm gonna drop it off and get the brakes done is it do they like probably something off like a modern pickup truck or something right sagacity spindle in a in a conversion over new you know all all new friends and stuff but basically swapped the spindle out and change the game we career driven drum brakes and we don't know which direction it's going or when it will stop yeah you get one good stop out of it and after that heat it up and you can't do anything it just sucks in traffic deal bullshitting real breaks do they use the same master cylinder and stuff too yeah i have to add a power booster to it but but that's it's hard on air conditioning works in the car i mean everything works that's that's great that's great i mean back he got that that's really cool the guy that orange truck no that's the guy who added yes so that had a that had four forty in it and this is like a judge pickup truck just slammed on like nascar or a supra front end grafted after into it won't the front coil overs AARP and everything is offering a supra on the front end of the hot rotting supra what was he doing ride quality really a sitting there perfect and he granted the whole front end from a super on there and it fit right where the frame was like yeah what yeah not a must have two friends coil overs on it and everything you do something like that do you then use a super like steering column in shat like do you thing a specific tire steering rackets depending on the angle you want to sit in your truck versus what the length of the truck hood stuff i i mean it's possible that fits you spent on the car yeah i fucking cooled guide truck you'll ever see it's hard to see from that picture but he's so wide it it would have been nicer if your caddy came back with a super frame one awesome internet concert is going to be like that trucks four man it's just the BMW oh man p cody performance car the year this past week yes well we can't talk about because i didn't talk talk to you about this was there yeah we can't i can't talk about how the c eight drives k. i could talk about things unrelated to how it drives getting super chat if you have questions about corvette but i won't answer the ones that talk about how it drives we can also we can talk about any other thing from p cody except who well i don't even know who won okay well i won't tell you i'll tell you after the show performance car the years twelve cars and and if let me see if i can fucking remember him here we go the corvette obviously there's one hurricane yvo mclaren six hundred lt lotus evora or a GT the new nine eleven career s the hyundai velociraptor and the supra new supra supra the m-2 competition the that can help me out with road and track instagram get down there we're talking about the top six every every time that we brought to the race track they're hurting brightness mo- GT are oh yeah the pico de twenty twenty what else what in other cars are there keep going keep going knysna GTRI on eleven zone that oh the miata RF and that one was a little that one kind of sucked because we really asked for a arse lexus our CFO condition was there we asked for a miata club soft top and we got the r. f. and there is a little bit of a difference supra did i think that is that all of them that i miss anything else that just going to cycle through cycle watching hurricane yvo so we did a day at thunder hill thunder hill west the smaller of the two tracks where we lap this shit and all these cars some of the manufacturers sent extra tires some mel themselves at least one extra satire tiresome the corvette team brought of a giant haller full of wheels and tires because he was a prototype car the prototype yeah so yes and no the corvette was built on the assembly line it was vin number nineteen it was not a hand built car i think they still call it pre production yes sir yes it was not in a final state of tune yeah and so the dual clutch gearbox tune wasn't final the the engine the ECU tune was not final and the mag ride tune wasn't final and they were extremely i was we were happy to have the car there and the GM team that was there like it was they wouldn't let it out of their sight literally like like all like we could do waiting wanted with the rest of the cars and we drive the corvette all we wanted to but like at night like they took it with them like and they they had to keep eyes on it all the time which i found very interesting so we're oh this because i got into this because of we were talking about supra the new soup rub and and when you have a BMW m. two and it's and a toyota supra and you get and you want to give them the other one you go oh my god this is such watch the super is like it's just like it's a BMW fully like fully like kemira lisa and sam smith without removing really anything found twenty eight BMW badges in the super i come parts and stuff including being the toyota badge on the nose has a BMW part number with the recall going on right now is recalled this toyota super which that's really that's hysterical i didn't know that that's very there is a seven or eight cars that got left with a potential seatbelt issues toyota that issued the recall always BMW that issued the recall that so interesting cars such a BMW and it's and it's on my second time driving it i liked it i thought it was pretty decent the first time around at the launch but i was also totally sold a bill of goods about the history and development of the communist yeah and i believed what toyota said and they were fucking line they were lying it's a BMW ad so revisited in that context it's a really cramped BMW and it's really it's very clinical in its operation cramped to compared to the z. four AM to compare rarely am to compare them to it offers a very similar driving experience but the MTA is available in a manual the has a back seat the MTA who has a bigger trunk i think the m two looks better and the 'em to as a much more roomy airy caviar yeah and i did i say it's available to menu it's manual which is a big deal because BMW makes a good manual solid gets a manual that make it at all and so the one thing the super has is a is a crazy loose front rear end loose loose loose little tires slighty and so and the the m to as much more grip we're the tire size is between the two because it can slide alive and we did some big drifts of course but i wonder if it has wider stickier tires than i think it might also but but it's easy it's when you if you want to slide them to you can if you want to stick the rear you also can whereas if you don't disable everything on the super it becomes very tail happy and and it makes you work a lot if you're really trying to go okay interesting the super like really i really heavily chilled on the supra like my my opinion of it was lowered substantially after doing this this test like i had much more fun the miata with the new engine that new orleans good engines spectacular yeah especially on a race track where you're keeping it up at the top of the power and it's like oh this thing wants to revenue away more meat to me more torque everywhere to rev it out yeah it's fucking great it does and the velocity and is a riot like that's like if you are upset that four four doesn't sell you a fiesta s. t. anymore look at lost her end with the downtown when we had that press car when when we the canyons and i was thoroughly surprised yes through good and i'm like dude kameda kameda is a very good driver and he's also he's he is the most him and chris harris and maybe some of sam but really it's it's it's it's comedian chris harris the tube are the two most like sensitive people i know into like what's going on with the car will drive something and come back and fucking yet the time in the car ten minutes ago comeback this fucking thing and go on a list of like ten things that are complete disaster and by the end of it will be like shit he's right right and then he you know he goes out and he runs really good times he's very fast so it's it's hard to argue with somebody's very fast faster than me you know something i don't know and so i have to listen to you i mean and i love jason working with him is really interesting because he can he can make you like something that you don't think you're gonna like and he can make you hate something that you like ten minutes and you absolutely salihi will learn all the things by the time you walk i've watched him be like my brain's foale can we just take a break never ending conversation with him and sam smith about whatever the fuck it was in the parking lot and it just like if you don't physically remove them they will just ramble at each other for like four hours they were they were they were discontinuing activate there's a difference between like nine one one nine one two and nine nine two steering feel tale like behavior understeer all these different things things and community was telling such details stories about like what he remembers about each little one what circumstance certain point sam was like i don't don't have the dictionary i'm a nerd and i've raised some stuff for your another level author memory nuance also one point we're talking about the aurora GT we all love orgy t t rules yeah it's it's it's not fundamentally that much different from the four hundred four ten but it's great on the less but but jason and some it was like i wonder what i thought about the adora in twenty ten when i drove it he pulled up a spreadsheet and read his fucking notes about it that he he made and it was like you know and but he's he his his nothing gets by him and so being able to work with him i'm and see because he's done so many of these big group tag things and i really haven't and so seeing how he evaluates stuff and what the thought processes it is and he goes okay now i'm going to go into this mode where i tear everything to shreds but the point of that whole fucking schmil was that i i think travis was in the mclaren lt when we're on we're on a fucking the route they picked was extraordinarily beautiful beautiful roads and and travis travis is upfront in the mclaren lt and kameda is so far up his ass in the veloce and we got there and and listen travis is fucking fast yet travis travis salmon jason are all the same speed on a race track and they're all about a second quicker than me which is or two quicker than everybody else yeah so i'm like in the middle of of guys solid place to be with that i'm fine i practice i do my best confine these guys are a little quicker okay but after the drive it was like travis was driving that mclaren not as as fast as the mclaren will go put as fast as a human being can process a back road bright that he's not he's never been on before right you know you could yeah you can banzai your favorite favorite road but strains road fast car okay stay on your side driving look a civilian sure but you're limited by the you're processing power more of that the the human yeah you can go justice fast up that road in velocity ranji cannon and mclaren i mean you really can t travis did not lose jason for a second and the rest of us were rife right there behind too i mean any one of these cars that we've got up to and including the miata i mean me and jason had a fucking walking run where i was in the nine eleven and he was in the miata and he at the end of it he was like a ferret who's just going miata pace ha and i was like to myself mobbing your lunatics after that you switched and bowman got me outta you like it was really nice uphill twisty the section before we went back down and bowman i was really surprised because i was in the nine eleven behind you guys and he was sticking with the aurora because it wasn't like a really fast high horsepower power road yeah and it really speaks to the miatas ability and how narrow it is you know you can make apex is in the lane you can't really do in most of the other cars they have a really wide car are you can't drive yeah remember when we used to film fucking tuned nothing would get away from the fiesta nothing five hundred car fiestas is right up it's ass nothing that would get away from it and so i think it was the same thing with the velocity particularly i mean the the gloucester in practices substantially angelique faster than the miata yeah especially in a canyon section where you're transitioning from slow to fast and it's not where you don't have the momentum you have on a race track on the racetrack thunder a west fuck me was that miata great it was perfectly geared for that track to be in like most third and fourth worth year and just flow through these things and you just go flat through everything and fucking swing the wheel around and it was loose exactly with their cars back to the picture what what else do we have what else what did you what were some of your thoughts on what you drove zach zach came and drove with us to the vora is i didn't drive anything on the track clarify that because i heard when i heard when the war was shifting on the track like the transmission moved around a little bit and it got hard to find the gates so this this is i i heard from sam also sam sam is the only other one who has the field me and travis and newish me and travis basically basically see eye to eye on almost every car jason jason and sam seymour i'd i on on cars and jason and sam were super are complaining about the gearbox i give lotus a little more credit than that it's not objectively compared to other gearboxes including including the miata and the velociraptor it's not as precise it's not as consistent i i thought it was on the street i found to be plenty precise veloce was good miata they're both felt similar but they both have a feeling of like a light they have a lightweight feel to them you know you have enough tackle sensations and know where you are and and it feels accurate accurate but the lotus felt like metal metal walls around the shifter clunk clunk the shift ball they had the metal shift like like all of that felt at seventy tents felt great yeah so real when you start shifting real fast it can get a little if you want i think i even found when i was running laps on this track days i would shift pretty gingerly okay wouldn't slamming not really no it's not it's not in the cars nature i didn't see i tested on a section road that didn't call for that also getting that car is way too tall really long way too tall so i was in i was in second in it i could have not shifted if i didn't really they want to yeah so i should have been two to three range gearing yet cars that talk jonah just doesn't make sense donner pasro that we went up like that whole road was second gear for me in that car yes second gear in that car i think goes to seventy three or something here it's it's it's you know what it's like is came in GT four yes the GD for accepting the the car has more torque so you notice it less because you get that super charger shove but it's basically that super super super long gear it's if you put a different final drive in that that was like if i don't know what it has but if it has a three twenty seven and you went to a three fifty five it would make all the difference in the so good reason they geared it so high like that top speed me and i think they wanted as maybe maybe i think they might can you do zero to sixty in first year in that car that might also be why i don't actually no i don't think so but it's still just one to shy so it still shifts that you you know possibly everyone agreed that the lotus could do shorter gearing but it but otherwise we were all like you know technology by lack of technology is pretty fucking cool scored real high in a lot for me like in a lot of categories comfort great seats are amazing i was like i was impressed with the door cards just in how they look in the quality for such a small company weird thing to notice but a lotta times you get in a small manufacturer car that might be a great driver and you go okay i see where they save money like yeah the the thing to decide you don't look at her touch mucho shirts plastic has like it was like nice pleaded swayed and had a good design in your it was at the right height for your arm parts of anybody else either so it's not you're looking at it and go like blinkers stocks are out of a focus certainty that's fine the evidence of cost cutting in korva at in the corvette i will not say anything about how it drives but i will say that the opening the door touching some things sitting in it it's still very much chevrolet you learned that one plus one equals two and one plus one does not equal it will three and if you sell a car for a certain price you're getting a car that costs that you're not getting some magical fucking beanstalk doc over here where you write a check for this much and the car you actually are delivered is worth this much but i think that's a very important thing for people to acknowledge because the corvette has always been a car that can compete with things that cost one to three hundred thousand dollars numbers times you're sick performance based whatever content quantifying performance and then they go how come it doesn't look very good i like because all because they have three hundred thousand dollars worth of car engineering and but they're gonna have to skip somewhere because uconn sixty grand yeah so i will say that it was comfortable i could drive it with a helmet on which is and not be touching it's hard for you which listen i i was impressed that a like a huge variety of different drivers of different sizes were comfortable after bowl yeah corvette even the smaller guys yeah you can you can have a smaller driver in there for sure which is also a hard thing in a corvette i mean just like you know for a lot of times for you getting in some of these other cars you know y- yeah i remember over the years you know your drive specially with downside but also with some of the bigger supercars guys exact size or smaller like they can't see over the steering wilson yeah just like that so i mean there are some of the some of the cars i i know that some of the guys like especially when i was over in italy five okay with wise too though there are some cars that are not meant for tiny people sure yeah most of the supercars i'm at the very upper end yeah but i can i like the mclaren i can try with the helmet no problem yeah those mclaren seats can you go back to my pull up my instagram the the HR geiger mclaren clarence seats which they are so these they come in different sizes which i learned these are the big ones so yeah i've it kinda joining american test at the launch they had a euro car with the fucking small ones and i was like you gotta be which was narrower the entire seat physically lee smaller and so these they had an getting in and out of this car was a fucking nightmare like when they took the roof fav helped a lot well yes dropping down into it helps a lot but there's absolutely no elegant way to get these seats at all and it actually kinda hurts climbing over that raw kind of hard carbon sell bruce from it a little bit but i have to give them credit once i was in it and started driving it that is an unbelievable seat i i am too narrow in the shoulders for the seat they had yeah so it actually helped me fine on the bottom but on the top i felt like i was sitting in my crown vic again he like no support whatsoever i was all over the place so i if you're if you're buying one of these cars ars or if you jump in one's someone's car and you think like oh these seats are terrible they're just sized wrong because it's like you said it's a totally fix seat yeah i don't know if they can add more padding adding depending on you measure you and they changed the patty then it's comfortable they were comfortable seats but i is on the track getting in the car with the roof up because it was a spider that sucks on the road i could plop down into it from above which made it much better but but even on the street st jude i did i did a really long transit stage i did a ninety minute transit stage in the mclaren and it was the end of the day and nobody wanted it everybody was so tired tired of the mclaren at the end of the day really yeah i i was there like taking okay yeah obviously you guys don't know how to set up a fucking mclaren because you put the the powertrain training track and the hand and the suspension in tour and it's the best and so once i was in that seat and i was like oh my god like i have no back pain like my legs or at exactly the right position for this like i can't move but i don't even want to and dan i actually kind of like a wedge myself in with my shoulders up against those shoulder deals fuck up a canyon and just my fingertips just on on the fingertips without having any tension on and i was like oh i get this this makes sense i mean that's why racing seats with harnesses are so good we we don't you may not realize people like when you're driving how much effort you're putting into the wheel to hold you in place and if you're trying to keep yourself at dead center but drive with a race even harnesses that really fits yeah yeah you feel the car so much more because you're not hanging on no and this is what those seats did but even then when we got on the highway just for the transiting i was just like man this this is a very comfortable especially with how well that car rides considering it's an LSD fucking rides so good we were lucky to be on i would i'd say smooth pavement that may have undulations in it because it was like mountain roads but at least the tarmac quality was really good and so it it might not soak up really hard edges that will but just little bumps in like undulations in the dirt underneath the road it was fine that car is magic yeah to drive but not as magic the seven twenty the only reason the car isn't the best is because i know that a seven twenty exists well where's the seven twenty better at even more magic more comfortable 'cause 'cause it's faster sturt and handles as well with less aggressive tires and it has that the magic sway bars so it has even more articulation and can be even softer a seven twenty s ride to me is only outmatched by a phantom it's literally rolls royce phantom mclaren seven twenty that's my order of best riding cars period and it goes pretty sharply downhill from there you know what rides fucking terrible that BMW i eight outside i'm shocked really yeah for a car that's like luxury personal luxury recoup kind of thing it does i wish it had like a soft mode like a dozen suspension tire wilton it's hard tires tires asia it's hard to hard edges plummer most disappointing car over like what car did go into the test going can't wait to get my hands on it and then the the biggest disappointment for me i mean you've was propping control almost all of them i mean i was the most excited for the corvette obviously and i i well you can't really can't say i i can't say how i felt about the corvette next next podcast but i know but and and that's i wasn't going to go to your question with that i i don't think i was disappointed with the corvette i think i think that well i don't want to get in trouble but i would that's not what i was talking about what i was talking about was the lexus are CF track edition which is a car i cannot possibly fathom why it even exists because you take i mean honestly you because you take our CF which is like all all right whatever right i this is still alive okay and then what makes it track additions well it's carbon ceramic brakes it's got a retuned suspension it's got a carbon fiber hood and it's got different wheels and different tires in a carbon fiber like body kit there it is now here's the thing ninety six thousand dollars so it's been grand juries mode did you hear me it's ninety six thousand thousand dollars the regular are CF is sixty eight thousand dollars this is a almost thirty k. premium would you say it's twenty five percent of the car the LFA is no i would say that for your same lexus dollar literally the same lexus dollar you you don't elsie five hundred beautiful touring car that is as well made is anything in the face of the earth and here's a good article apropos of this the CF normal normal one is sixty five grand the track is ninety six and five hundred right below it ninety two four k. less get the fuck outta here but what do you what are you paying thirty one thousand dollars carving matt paint which is really expensive yeah harbin ceramics way to really expensive and small volume carbon-fiber parts which are very expensive but like how much lighter than the regular fucking who cares cares enough it's not enough i mean maybe it's a hundred pounds i dunno it understeers like oh it was it it was not fun to drive now it's the most disappointing thing about this car i don't know if this car finished dead last in competition but it was at it was at the bottom nobody not really liked it nobody really found really redeeming qualities to it i forgot what i was gonna say oh sorry the most most anything is how great the engine and transmission are 'cause they're really nice the engine is so great it's like i'd it'd be my fuckin- doc and jam is if you put this lexus v eight right here in the back of that corvette that's my shit right there because the sound in front of a super the re or the front of the super oh my god happy great protracted dish v because of the reps is not is not driving impression to say that the corvette i i believe is the lowest revving mid engine car on production probably hero the other key is lois lamborghini red lines sixty seven hundred which is which which is very low i put up this just annoys video and everyone's trying to analyze my where my shift points because they don't show the gauge and the fact of the matter is oh oh did you lock make sure the video nicer them the fact of the matter is it's an eight speed close ratio transmission walk chevy and it's it's still small walk shopping yeah and so yeah it just it just it's sixty seven hundred RPM is the red line so yes in in that video you are seeing my first i three laps like literally someone was like your turn and i got in the car set up the cameras and you're seeing the first time i drive even twenty feet and so you know i went out on the track i is the first time i've ever driven track also i got a van a van sighting lap from ross bentley which it was great i love her awesome awesome great instructor i knew where i was going you know did i ring out the car as hard as i it's a million million dollar prototype no but on every straightaway in this video this is the justice noise video every straight away and everywhere where i'm shifting at full throttle there's a couple places where i grab gear like i lift to turn and grab gay or something like that but like on to straightaways on the track that's that's full full throttle red headline pretty low it's a little headline yeah it's a low red line in the company of the rest of the cars or the other five of the cars at the end of the test it's it's a free lorenzo low red line and i mean it's very i think that's a very interesting thing that that i maybe should have expected from a corvette i knew what the engine was but something i didn't really think about because i think about mid engine cars in a different yeah there are now merging these things mid engine car you think of as being exotic materials exotic manufacturer different from everything else yeah what i love about it about the about this corvette the vet is that like corvettes in the past it democratizing this type of performance you know granted the boxer it came in sort of did this this this this allegedly performed at a higher level than that certainly a lot more horsepower v. eight and and and this is the entry level i mean this is the baseball mommy and there's going to be that that engine bay in the back has an awful lot of room in it a great test in the future will be corvette GS versus four yeah yeah very cool yeah i mean if they do grand sport version if they do zeo sixers ER one or whatever i mean i i i don't want to tread too far in but i but i think that the the general consensus among us was that the future versions of this is that this is the platform here's what here's where we're starting and then start it's i it is a good start yeah yeah i think it's a good start i think that in some ways it's a it's a huge huge jump forward and in other ways he's it's such a corvette like like if people are expecting it to not be a corvette like it's it's a corvette for sure so why we know mercedes i don't know why the test yeah were there any new mercedes for this year that got rose on their why couldn't couldn't do dude i don't know i didn't set up the fucking i i'm not sure i don't think there's a particular reason when we win these group tests happen yeah there's like availability of cars and and it does i don't i don't i don't know why i don't know what the logistic czar of this i think i didn't make the cut i don't know if i might i i mean the the do they have mercedes have a new performance car maybe AM then TR pro but that but that was available in nineteen because we had one for proving grounds so the rule of like if it's not new or if it's not a two thousand twenty out a supra and the miata were available for nineteen technically they were so good just be available but travis lows fucking miatas and supra was important and so you know i well back when you try shing production yeah i don't think the rules are quite as formal yeah as you know we made the test we tried to his lap times which were done by v box and they're backed up by all the video the telemetry and then we all did our scoring and our our writing and our rating but like oh you know a lot of it is subjective i don't think i genuinely don't think the laptop way into the scoring at all i was gonna say honesty when ice all over the years all the time i've seen this version of this test done with whatever magazine does it or whatever you know whatever media he's going to do it it's the subjective yeah versions of what everybody's nobody's telling you that i really like that's what you really want to do because we don't have a pro driver doing yeah that's why travis is doing the driving could have hired anybody any number i mean enjoy our hildebrand is on the focus on the roster but they didn't heed specifically did not want pro driver laptops but when we were doing the voting like i've time didn't weigh the in at all it was just like travis wants to track boys lifetime matter like the miata wouldn't be there you know it just wouldn't it be there on a track ah that big but it's it's about how the car performs even if that performances at lower speed than another one like you have a car that is five seconds faster than a miata let's say but it might get there in a way that feels unsafe i'm not seeing any these cars like understeers like within the tradition yeah like if you had a charter three ninety two which is a pretty good sedan like i really fun kind of cheap AMD car run faster lap time than a miata but we're axel take a better example would be the challenger because it's so fricking nose heavy car drives the chargers actually fund cars yeah charged front rear fifty to forty good but you know challenger may get there quicker but it's the way it gets there is a mess laurie kirby economically terrible etcetera etcetera now let's see what else oh the nine eleven you know i did this career four s in europe and the we've got video coming that monday the seventh this is the regular career s the good news is for those who need all wheel drive in their life snow snow or whatnot ninety nine percent of the time you cannot tell the all wheel drive cars all wheel drive like i drove it all over the street and the difference between driving the regular s and the four s on the street is zero can't tell except the four s launches a little harder the forest launches hard it makes sense beast the forest launches as hard as last year's turbo it's fucking crazy it's melting they've reprogrammed the clutches did you watch the nine eleven so they replay program the clutch is now how do you remember how last year would really ride out that first gear no more it dumps them now especially in the all wheel drive cars fucking jumps out of its own tire jeez he's sick amazing and so but either really good at how the lake i it's it's weird for me like i'm very careful this because tangent vector actor shoots a lot of porsche's stuff which is why i don't review brand new porsches but sure that's why it's it's there's a little conflict of interest like i told zak throughout throughout my notes on because we're shooting a doc for GM like about this so i have to be fair about it all my notes about the nine eleven we're just like it's real it without going to the experts it's really knowing how good they are at their job yeah community doing it for a very long time good yeah i and you figure out why they're so good good at it very quick like i went to the factory to pick up that that for us like oh oh factory looks like you really give a shit about this stuff doesn't looks like our factories look here mclaren's factory yes yes a focused every in every part of it and they're also well no say mclaren's very young so they can make take the factory look how they want to look but porsche has been there for a long time yeah but they it's not just it's not about the factory looking modern it's about cowie clean and organized and they're not wearing lab coats they're wearing the route that the that the pit crews wear and and they are you know and then you drive the car and it's like not only is the car the most comfortable car in the group it's the best made car in the group you know from a quality perspective it's very very fast the steering is amazing the it feels like you can't break it because you pretty much can't and and then you go on the radio and this this is a regular s and he won the race track and you go we'll fuck me this is crazy how fast this car will go and you can slide it and it's fine with that and that has good steer i mean it's like shit this is so nice so nice you back to you had one job and you're right it's there's not a lot to complain about that with the nine eleven my only complaint of the nine eleven and this goes for the for us is i don't like eighth year they took PDK and they added a gear for fuel leconte but if you're driving the car into normal bullshit mode yeah it goes into a fit like i dunno fifty and it puts the engine when it does is that at max shitty nece like it's at maximum your own plus being in vacuum plus just sucking right like those flat sixes they need be over to your over at that you don't have to be able to five but over two they smooth out they quiet eight out they chill out at two over eighth gear puts this bitch at like fourteen hundred as much gas mileage of course it is it just means you can't drive ride the car in normal automo- you can only drive in sport normal because it keeps it out of that drone and even they were kind of like yeah you know if you look just like they didn't want to do that shit yeah just do it to get the number and then you drive it hardware but then when you put in sport or manual it's the same as it was before you know it's fucking beatty great how did you feel about that car verses the mclaren and i know there's a huge price difference in clarence twice the price and it's twice the focus you know what i mean the mclaren on a canyon road the mclaren is incredible i mean is it shrinks rinks a lot insanely ainley fast and it has power delivery that is so explosive and it just feels like it weighs nothing because it does the top goes down like intended hence eleven seconds i think the top goes down and i mean it's just it it just reeks of perfection and motor sport the the nine eleven is very lovely but it's the best it's the best daily driver you can buy whereas mclaren especially ashley because of those seats is like daily driving is out the window yes true yeah and the nine eleven it's just like it can do anything you could drive across the country you commute to work do attract date you can go to the canyons like you can go skiing you could do anything with that car there's nothing that thing will not do at a at a at a very high level yeah the mclaren there's some things you can't do that very true the seats in the nine eleven are amazing amazing they're they're like a really nice middle ground between thin feeling light feeling supportive enough not too soft but comfortable's well they don't they they don't have this crazy side bolstering but when i asked bill it's still holds you it's not it's nice it's very nice it's just the most the most well rounded car that anybody makes it can just do anything and it feels like real like the interior on that new nine eleven is super super super exquisite sin that's that like just the attention to detail not in like it's not filled with diamonds like bentley it's not that the fucking would is is from the root of a turkish walnut somewhere and it's omega would it's it's not bad it's just like it doesn't need an essay to justify bloom and leather her it's the same sh i it's just put together in such a nice way and the detail work of the edges in the under spaces and the negative spaces and all the the thoughtfulness of it it's not like can you give me an interior of the nine eleven like it's just so especially compared to the corvette the corvette is like like don't don't like way to the danger zone the corvette is like weren't topgun now and whereas whereas this the nine eleven is much more like no no it's it's a normal car it's gotta be you know practical and usable and spacious and like and all that and the the corvettes like let's get in his fighter plane cockpit you know what i mean and they really cockpit eating it up whereas the nine eleven is like we put this here so that both people can access these this cream and like we put a cup like we made it more friendly and so oh although you know the center the center console there is getting subscribe progressively wider and wider as the generations go on they had to put cupholder there and everything why why do you think they're widening it just all the cars they're they're console i think to get the cup holder to work there is that the ninety nine one interior to compare to i don't know whatever but also the because all the cars are wider later now too because they don't have the narrow body kearney more they've only got the i know the cockpit doesn't change size but everything is widening yes he looks either nine nine seventy see how much narrower is there all right so this is an n one as i'm sorry nine nine one yes that's nine one and then go to nine nine to see how much white is substantially wider her yeah there's a lot more real estate on either side of the shifter yeah and the shift that little thingy they made the shift or smaller but made everything else bigger but it's okay okay is not cramped it's it's it's a lovely place spending time it'd fifteen hundred miles across across europe and then flew to america in with the car and drove more in the car and the one take is on tail of the dragon which i recorded very early in the morning so it's a little little dimly lit but it's it's a fucking cool one on the new car has the haptic glass on either side of the shifter that don't them seeing took up some real estate it does doesn't have any it's got some have to glass ah basically it has buttons to the left and the flanking the shifter where's the nine one did not correct right they move those buttons further up to make a cup holder and make the armrest space bigger yeah yeah i don't know i liked it a lot more importantly than the actual design though is is really just fucking how nice it was screwed together it was really screwed together well i'm a fan i think that's pretty much the m. two i c i chilled out on a little bit as well it's the competition shen so does it different a lot different engine from the regular too i drove i think i liked the regular one better it's been a long time but i was a lot happier happier driving the regular one that i was after i got out of this one i heard that a lot of people after the you know they don't sell the quote regular one in america anymore everything you get is is is for competition and doesn't have as much like lean it was just too stiff yeah i i really liked the two when we had it originally at grid life and we're having having fun with it but it i liked it better than the supra but compared to i mean and i know it's a compared to the mid engine cars i didn't i didn't like it as much and we only drove it on the track it didn't make it to the street and a few people said it made it to the street it would have been better but the rules of the of the game were twelve cars on the track doc and the end of the two track days we would vote our favorite sex and that would make those would make it to the street and neither the m two nor the super made it to the street they they both were kicked off the island what was we had an interesting talk about at dinner body role i was complaining that the miata has too much byrol so and i thought how to fix it was way bars and sam smartly corrected me that like that would cause these other problems it's actually suspension problem but what we were talking about is that the camaro which is an amazing chassis i'm like it's a really good car to drive roles more than you think but when you're driving and you don't really feel it feels like it's super flattened sue because it's so good there's a writer but with salmon chase we're saying it's actually the speed at which it rolls over onto the bump stock more measured whereas you know the miata when you're gonna turn just it's like flops over and then once it sets now you're cornering so what do you cure that with shocks shocks coils and and bump stop it's like everything but he's gonna bring it up is because it's possible that what you used to is that it rolled a little more in the new one like the m four is is just rigid yes is really it's to stay was stiff i mean i was driving on a very smooth race tracks so stiffness wasn't necessarily the problem problem racetrack but it it takes away some feel of things things move i just found i found a it to be a little clinical in its power delivery be i i found the steering was not as good as some of the other cars i had driven specifically miata of war-era or mclaren some others i might not mention and and i was really hoping that i'd be able to slide the shit out of it and it didn't really wanna do much sliding it it it it i got a lot of that vibrating is when you know that you know if you when you start to push that vibration vibration through the wheel and china signed in a lot of vibration and it's i dunno i just got came back and i was just kind of like all right that's a thing do you feel like size ice has any i love the size of it yeah i love the size of it as a streetcar like i love the size of it as a streetcar just i don't know i mean maybe it's because the company funny we were we had a bunch of exciting cars out and maybe if i just showed up and that was all i was driving for a whole day at i'd probably have a pretty good time but like i got out of that and got into another car and i enjoyed it and more do you think that overall size has a factor in this specific competition like all the different cars you drove there's the miatas obviously the 'em to those are kind of on the smaller side the super is not as small as what i thought it was going to be compare it to small is it about the same size as an eighty six okay so mean do you think a smaller car could be competitive against something the size of a corvette well it's not i don't i think you're asking the wrong question because if you actually look at the cars that made it off off the track and onto the road one two three four four of six were mid or rear engine okay and only one mid engine car did not make it one of the mid engine cars didn't make it to the road whereas one one two three four four of the front engine cars got kicked off the island i think we are are as far you know this is road and track so track is is a is a more focused sports car enthusiasts car magazine yeah and i think that in a lot of ways especially with the corvette now being mid engine i think i think in a lot of ways we are just preferring the dynamics of the rear engine or mid engine cars so using that very generic algorithm that you just came up with it's obvious that you know for i mean that kind of gives you the example of why GM to remain competitive had to do what they did with the corvette yeah oh i i i i don't think they did it for the right reasons but i'm or more orla i think they did it for zero to sixty reasons which would be the most detroit thing ever but but i i and i think ultimately it was the right move there were people on the road and track staff the do not feel that it was the right move not necessarily surly because they think the resulting car is bad because they times my longer a corvette i'm personally i'm i'm i'm actually on that team i feel like a corvettes been the way that it is i get why they did it because they literally after driving the r one like they have hit the limit of the engineering possibility for your car without a doubt we are one so i get why they had to do that but i just feel like it there's something to be said about over the years this has been the corvette and and this is what we're used to and this is how it is but i think that's a bad reason to keep doing something because it's the way we've always done it right is a is a is is not a great but could have been something as simple as just not call it a corvette and you maybe i mean maybe you could call that zora camis argument argument mm-hmm it was about the whole thing about the whole car was i don't want this to be the corvette i want this to be the door yeah and it can it doesn't done ninety zora if it's placed a if it's place above the corvette i think his argument was that there they would be able to do certain things things that would improve it like like like your stuff without driving with the GT while yeah you can either go that route i mean but i think that because it was a corvette and not zora right it had to have a trunk yeah there would hold fucking golf clubs well having a trunk that holds golf clubs means the whole year end has to be ugly because now you can't have a center exhaust yeah and now you can't have radiators with fans back there and you can't have air flowing through shit with buttresses because you've got a trunk is the corvette is such an automotive icon is a name and it means what it's meant for so long to do to change so radically and so call it a corvette two guys a comedian i mean that's that's all right i'm again i'm not saying there's any wrong with the car insane i just strictly from a branding standpoint lay on the quote that is what it is but from gm's perspective the corvette is there halo look let's look let's have a comparison here's a comparison toyota goethe huge company tons of money now resurrected the brand equity of ten years of supra of the superbeing alleged resurrected all that brand equity into with it they put it on a fucking BMW so if toyota a smart company i liked that that how could we possibly expect GM to rise above calling vata corvette no never not in a million years with that happen and like i said i have to look at it as the corvette is not the corvette corvette is there halo car that's where it slots in it doesn't slot in as their front engine rule drive sports car alright flats in his that's their halo car and so in that respect corvettes a corvette that's got to be their top cargo so right because it so i think to to go to the was is it always meant to them maybe to i think to people in the crowd what it's meant to them is it rural address car but like you said GM it's been halo sports news so if the thing that they have to do to make it competitive corvette has to be the car that's winning the races the car that's doing certain things for them on that standpoint just because because it happened to be for an engine rear-drive this whole time exactly so that's that's the that's what you have to kind of retrain your brain into into doing because yeah yeah just because it was something that doesn't it's weird to say because it was this for so long doesn't mean it's that company it's on that radical nicole there was done something what is radical is moved the engine in their car yeah i mean it's still called it the same call to the same thing around in the eclipse eclipse cross yeah there you go oh that's funny ruined ruined their brand equity i mean there's not many cars there were they move the power our plant in this side of the car period alone call at the same yeah that's what i was trying to think this is the first a lot of what the new corvette is very radical michael for for a lot of reasons it's radical for GM f- to do a mid engine cars radical for them to change what their their heritage is it's it's it's a really historically significant time in being an automotive enthusiasts beyond that that love or hate it that changes the game in a lot out of aspects to it and it's going to be felt across the board everybody it's well i think it's interesting it might the question is is most people aren't going to get to to drive one before they buy it now for not for a while right so the question is and if they do they're gonna get a very short test drive around the block right they're not going on racetrack with it for not for a little bit so the question is will sitting in it touching it playing with it smelling mailing it because it smells exactly like GM vehicle it smells renton equinoxes that smell yeah that's what the corvette smells like the yankee candle if your christmas ideas and so so will those people be converted out of porsches in out of high end luxury cars well enjoyed problem always has been the day don't know the i fucking thing about luxury jer not a thing and it would it would corporate would be the kind of people to sell this car our our GM excuse to sell this car and be and be completely oblivious to the fact that when you open the door to this car the a ferry first thing you see is a fucking quarter of a sense stamped piece of black plastic on that trim it's not that the nine eleven thing that kills bugs fast like it's not it's not an inlaid it's like this i mean my my three series wagon has an inlaid m m badge here's some avi forgetting about how the drive obvious cheap the flip side of that that we talked about is longterm does the mid engined corvette all of a sudden introduce a new crowd of people to a mid engine car and then all of a sudden the other mid engine cars start showing interest where okay i drove him engine corvette forget i really really like it admit engine ferrari must be that much better now no one was into ferrari's corvette but there are guys that so you know that would have never driven a mid engine car before you know they would have never considered e they couldn't afford it or just the experience they were looking for they were there these hardcore all of a sudden now the corvettes made engineering makes it okay democratize it big a problem as you're you're making it so i don't think it's a problem just curious as to what the long term effects of introducing a lower dollar point mid engine car to the masses what does that do to the other high and mid engine cars around is it water them down does it make their sales those higher because what it might do is encourage other manufacturers to make their middle costing cars mid engine instead of front right that would be interesting but that's my point is that this is such a significant thing that i don't think that a lot of the enthusiasts think about it the ripple effect of this is going to be years to see what what this one change GM made what is that change overall does it like you said does it change maybe all of a sudden you know we inexpensive engine cars to the high end mid engine you know have a new crowd of sales we don't know we don't know what it's gonna do but it's it's i think voting record of warning to keep engines in the front of the call we all know no this the bible says it but after driving this covert i have to say i might be coming around on this thing that's my picture on your some people that are that don't dr mansion might swell usually six figures that's why why not i don't think anyone has a problem with where the engines are they might have a preference i don't think anyone is like is going to be conveyed i i don't think anyone needed converting one way or another people just like the cars that they can afford and they can drive and now people might not like ferraris because they didn't like ferraris or they don't like foreign cars or something but i don't think you're gonna have people that are going i was against mid engine vehicles until i drove i don't think that's an angry person that really exists i think there are going to be young people that that would be looking at an m. four or maybe a us nine eleven or or something in that area does this all of a sudden start to remove some of the stigma of a corvette guys like us for for so many years up until recently was like i'm not i love the corvettes great to drive i mean you had your c five out of which was rare for guys our age to be in a c. five or or any the era we just wanna be that guy who the c five was like this was a big jump forward at the time at the time the c five was it was like my whole life was the c. four yeah from what i was born until until i was old enough to buy my own it was literally like force over the c five komo is like fuck and fight vitaly so i think a lot of people now they see the six and seven sort of is the same kind of thing and tired of that and so and so i think you're you're you are definitely going to get some young people to go i can maybe i can afford this and maybe you know rather than sex or GTRI or some nine eleven's org came in or this now now you're gonna look at a corvette to because the engine is in the right place on the other hand the downside brand equity is brand baggage agate brand baggage comes brand equity in fact you pack brand equity into brand baggage and bring with you and and brand baggage is gold chains and fucking hawaiian shirts and based on twitter today album corvette forum guys they got him on order so it'll it'll be interesting to see what the conquest sales are who's trading in there nine eleven for a new corvette like i don't know i don't know i think i don't know how much that will happen but i think i think the the brand baggage thing where it's like the old guys are driving with the hawaiian shirts and stuff i think that's kind of fading because the number think of how many young people so you see driving either a camaro challenger or charger and they and there's plenty of old dudes that are wearing corvette clothing or clothing do the same thing so i think it's just like what the car is about is is like young people are more about what cars in coffee i'll see i'll see someone thirties driving zero six or something like that or modified corelli i see that but i went to manhattan beach cars and coffee a couple of weeks ago and it was like corvette cruisers club you know and it was a bunch of old old folks in troop ship with break chrome folding chairs and that's fine do their thing but but i think when folks in their twenty s see that they don't go man i need i wanna be a part of that club whereas they see lucy gault and the period correct guys in singer and that and they go you know and i want to be part of that club it's gonna overall it's just going to be interesting to see what ripple effect this one decision makes you know we'll be we'll be having this chat three or four years from now and say you know i'd be curious to see what changes happen in three or four years that we can go back and be like because the corvette did this maybe that's why that this happened that way those can be interesting this year sima yeah fucking the dollar cars are flowing like the samina capistrano right now everybody you'll get a dollar car your dollar car and you'll get a dollar car everybody it's a dollar card actually yeah well i'm not going there this year i talked to a lot of people that are being passed because the saudi sima no because they're competing with the saudis no seem audited they're they're memberships this year no if you had a if you have maybe a a business and you manufacturer something so take take a shop like VF engineering okay who's been a member sima since he could good has has attended seamer for the last twelve or fifteen years however it is a shop like that who they you know they manufacture the tunes and the superchargers and it's something that you know they can missile retailers as they're they they spend seema and they the owner will go out and maybe one of their tax and meet with their vendors and their suppliers nats they have their the annual meetings like magnusson and stuff like that so this year sima would go back to a shop similar to say well you manufacture something and you don't have a booth so you don't get passes oh so if you if you can sell something or you can have a booth there to show off what it is that you're making and you don't have booth you don't get passes so the ripple effect of that is that a lot of the riffraff but the smaller shops that that you know a shop like the f. can't afford to have a booth there plus lose three or four guys for the entire week and all of a sudden it affects them big time so they use that that show to go meet with any other so the ripple effect is that magnusson uses that show show to meet with all their vendors like that and then they say okay instead of having to go and have a ground team and have a northeast guy in the south he's just made it seem we'll have our annual meetings once a year call today all of these shops now so if your tuner shopping you don't actually sell anything retail you can get past as you remember sima but if you sell something retail that you make and you manufacturer and it wouldn't qualify to display an booth somewhere and don't have a booth no tickets was that really the source of the problem shops that manufacture things but don't have booths they did it overall audit and just basically like if they were just cracking down on tickets this year part of it is is with the convention center and being under construction they want to try the crowd's a little bit next year is gonna be even worse they lose the north and south hall at sima so they're trying to shrink is they're trying to shrink it a little bit of control it but without warning like to see shops like say look do you know where to do this this year but next year just no you're not getting tickets and maybe give them enough time to say okay we'll have a booth but like you know i use an example because i was i was there with they're trying to organize our senior plans six months ago and you know he had planned on going like he did the year before and they're like no you need i can't come up with a booth and displays displays and you don't have to hire extra staff and all six months to get all this stuff ready to go and you're telling me i now and it's it's just it's expensive and it's it's going to be interesting to see seema who what's what's there but it will be inundated with cords and super i'm sure the other what's the other one PRI AB AB we're gonna go across the street to apex it's the same passes yeah yeah that's sucks all right that's a bummer young good thing i wasn't going anyway what questions you got a bunch we've got a bunch i think we've got a bunch can can you zoom sinisa can read zits who's the first jerk to ask you about the corvette driving them not to well we'll see when we get to say let's let's see oh we gotta watch question kyle be getting the super chat next few minutes if you're with us live we're going to answer some questions before we end this show and we got a bunch launch we're trying to get to all of them kyle says i'm looking at my first big boy watch a four to five thousand dollar budget looking at the omega planet ocean and oh jesus christ he's trying and he's okay he's done something can you just show the screens act because what he's done is he's he thinks he's been helpful by i showing me the omega reference numbers but omega reference numbers aren't like rolex like paddock a paddock reference is like fifty seven eleven five seven the omega he's he goes i'm just gonna read this having trouble deciding between two three two point three zero point four six point five one point oh one point oh one one and two one five point three zero point four four point two two point oh one o-on bro i don't know i don't know those are reference numbers can use copy those entire numbers into google and just just get an image of those the omega plan ocean is really nice watch it's an it's one of the nicest watch watch they make and by typing in the reference number you can get a picture of it and i think they're just basically the same thing just different from callers i i like the planet ocean a lot the best ones i think are the black with white is at the store the the we got the black with white yet the jam right there the the the seamaster planet ocean black with white accents is the fuck shit bro i like that a lot there it is that's that was one of karl's favorite ah watches to the black white and also the black with blue is really good but the black with white is my shit the chronic graphs but if you let koenig rapids good good i like the i like the diver- black with white go ahead good call go with that kyle thank you for giving us those reference numbers that are just obscene to look at CA says i live in vancouver i love your city and i want to get a new manual transmission car to daily and track on occasion i'm thinking of a honda civic type eibar could afford to stretch my budget to a base came in but not the s who civic type r versus base cayman comes down to looks yeah yeah well look i mean you shouldn't buy a civic type well okay pammy beckham civic type r is a great daily driver it is it's very practical and comfortable comfortable it goes pretty fast but it doesn't really there's not really a sacrifice yeah you can you can daily one abass came in has two seats dates so if if you are okay driving a coup you shouldn't buy a sedan you know what i mean like if you're gonna go to track and like like a came in even base one has such better dynamics than a four door sedan any four door sedan yeah and so if you don't need backseat your search should be for two seater cars in which case came in corvettes used corvettes for sure used caymans commits us came in s is a great place to be maybe cylinder came in with an extended warranty rather than a base four cylinder came in i i would i would look there but i my main piece of advice for you is that the civic type r is great for four cylinder front wheel drive cars with the back seat if you don't need the backseat you should eliminate it from your your options because the big car the back seat has a lot of room in it which is great if you need need it but if you don't need it you're lugging a lot of car around the only thing those who have in common is their manual totally true brian no fray says reviews say that at the toyota eighty-six limits are low slighty and fun on the echo tires what tires for my v six mustang would mimic this feeling auto cross and daily drive the car zack cheap and hard yes really what the tires are the the prius tires right based on their part they're viewing hundred treadway discount tire place and you cannot pronounce the brand name that's what are my drift cars are like bavaria fifty bucks yeah the tires it came on my crown vicar terrifying because they were super hard and they last forever i mean anything thing that's a four hundred tread wear hi four hundred and up you know fucking get some get some snow tires high tread where echo tires is and and if you want to replicate it without spending money just pump your tires up to forty psi yovany gavin kit kit kitties hypes kitty schnaps kitty snipe says would you rather drive an s. five five fifty mustangs sized exe- judge or an exe- sized must size mustang absolutely exists is mustang a fucking tiny mustang it'd be rats or the escort was like right and exists side mustang is yeah ford escort mark right basically yeah doug horn says says oh he liked to watch and listen episode with carl so i guess we haven't really talked about it together we may carl died that's not a good way to intro that but yeah we lost my friend carl week ago we can weaken a bit ago and it's been very very difficult for me i have actually cried quite a bit because carl is fucking legend food watches cars people people business crime carl knew about everything crack on knew about i mean karl people who describe carl they describe him as like an explosion asian or like a the big bang or like some call someone called him the match and the kerosene and he fucking he'd walk in just like blow up a room room like just fucking i i'm here now i run this like people use descriptions for other people all the time but like legit that is the absolute actually that actually was is carl and he passed away we think of a heart attack he he was not a model of health but you know he was go listen i go listen to to to the shows with him he talked about why he lived his life the way he did and and he i couldn't argue with it i mean he he watched his father other you know save for this supposedly epic retirement travel big house all this shit do all the right things and got alzheimer's at sixty one and now he's in his animal eighties maybe seventies or eighties but he doesn't know zone fucking name she's so carl was like fuck that not doing matt i'm having fun every day i'm doing what exactly what i wanna do everyday you know he busted his ass he's a hustler you know sh amazing chef worked hard hard but you know he he wanted he had a good time all the time he maximized his use of the internet for exclusively fun and things in that shirt in that photo he's wearing a cash shirt at one hundred shirts with cats on them all different you know he taught me a lot about watches ages he really influenced my my watch collecting habits i'm wearing the rolex explorer right now that karl after explained to me why my rolex batman batman sucked in the rolex explorer is a much better watch i sold the batman icon explorer and i and he was a thousand percent right and i don't know we're going to be talking about karl for a long time i had a t shirt made with the guys at blip shift and the the carl's restaurant lock who bonna somehow in conjunction with guy fieri fealty they are starting some kind of foundation for aspiring chefs in in carl's name it's a i don't exactly know what the plan is but i'm talking with them we are going to sell the shirt pull that pull the picture backup zaka the shirt and it's on the front it's it's karl being very very carl with a slice of pizza admiring and on the back it says it's a fucking great picture i really really like it pinkie up as always the back is they know that it says don't trust your own taste chances are you have done which is which is one of my favorite lines from carl he's he had a lot got a good great lines i'd rather eat crumbs with bums than steaks with snakes i liked it went to this restaurant is beautiful lock on fucking rule rule eight there and it was amazing and they are going to continue serving chefs food it's it's a beautiful restaurant in the meatpacking district cuban food i don't know if you guys noticed mccune food is fucking disgusting it's not good this isn't that they don't have good ingredients there and it's just not good carl made amazing amazing human food and it was absolutely delicious say human food in cuba known for being in america yes sucks most of the time it's just not it's not good it's not that flavorful like most of the time not all of it but like in general it's not that great but carl and that restaurant was popping in the fuck off dude it was music and dancing like every night ever is like there's like so many fun moments that that i won't get to enjoy it with carl anymore which is really really sad but like i'm i'm really glad there's like so much recorded media of him i went and listened to i i last week when i was on the road i ran his episode of the watch and listen podcast which i called watch carl ruins everything iran that is our and i you know it's such an amazing piece of radio it's just he's so so go he's so good he's just like here's a guy whose job it is to cook food and he is better on a microphone than ninety nine percent of professional broadcasters working today he's fucking gold is gold everywhere everywhere you bring him he's gold i'm doing this the microphone and i was in radio for years i've found of the guys that are better than that are the guys that that's just their personality that's who they are and carl's personality -ality whether you put a microphone in front of him whether you put a stove in front of him or what you put an audience in front of him because he could he could be his radio guy yeah wall cooking a meal l. for like thirty people he wouldn't be distracted by the food he'd continue to entertain you the whole time yeah the amazing that that's amazing skill taught me to make lots what's the ball soup which i've been trying to replicate ever since and i've never gotten it exactly the way he's gotten it and it really bums me out that i won't be able to have him teach me how to do it perfectly but i made it last weekend and i'm going to keep making it until i get it right i i know how to do it but i keep fucking up little things and i made it almost right after i heard he died i made it and i was so fucking distraught that i forgot to put vegetable oil in the matsu lots of balls and i made the soup and the noodles and vegetables were perfect and i fucked the mothballs up but i know how to make good multiples like he did he made to make masa balls normally it's like matza meal will salt eggs vegetable that's it mix it up and then you fucking meatballs carl separates the yoke from the whites lights and meringues the whites and makes the fucking matsu balls with a meringue and all this other shit like he just e the chicken gin for the broth like you make it from scratch like you roast a chicken in the oven for forty five minutes but then you put it in a colander with all the scraps of the vegetables the onion skins and shit and then you put the colander over the boiling water you pour more oh and then you cover it and so as it steams the steam then drops back over the chicken and the skins as it goes back in it's fucking amazing so it's like extracting more and more delicious tollhouse flavor it's so amazing and i going to get it right this fucking weekend i'm going to get right like it's it's like and when cows like he made the soup and we were hanging out and drinking and he made he made he made the soup before we went out to dinner i thought the soup was gonna be the dinner he made the soup we ate the soup and he goes steak and we got a fucking uber and went to adam perry lang in hollywood would any all the meat after this matsu but he made me the soup and i was like how is it that a fucking cuban guy can make this soup goes 'cause here one triple g on a panel full of jews the soup that's what he called guy's grocery games games triple j triple triple g on a panel fulla juice nothing to worry about these understood it man you know like like a chemist well that's the only the book that carl told me to read in his the most interesting book maybe i've ever read is called what einstein told his cook and it's a book about food science in how y foods why why does salt behave this way what is sugar behave this way what do yeast do how do they work and it's just amazing what einstein told his cook is the name of the book all right questions russians we have more we still have more i know we took a tangent to carl but we didn't tangent district like like okay we'll go back to go back to that after after talking about death right i know i know mister someone says is now a good time to fox body now a good time to buy a fox body or the price is gonna keep going up or will they come back down again they're going up i mean not up like fox body it's not going to be like one hundred thousand it's not going to be a career RS type i mean look if you found if you found a selene let's call it a selene fox bonnie with three thousand miles on it might be eighty grant maybe it might be maybe fucking mind win for sixty five yeah i mean granted it's a custom but like you know the most expensive fox body to ever sell auction eighty-two grant yeah it was a seven a brand new delivery miles seven up car but it's happened yeah i don't think they'll come back down a fox body is a fixed there are a fixed number of them there will never be more than there are now found a decent condition one an and improved it's slightly from whatever it is you got you're likely not to lose money on you can enjoy it drive it and likely maybe not make a ton of money on on it but not depreciate nearly what other projects in that era would probably going to a couple RIP's carl indeed there are we we will have many RIP's for carl there's gonna be i'm not sure what we're going to do on an official basis but we are going to do something and the shirt we're gonna donate all the money obviously i'm not i think there's a couple of evil you know the podcast i did last week where i recorded an intro and then i ran the the watch and listen episode put ads on it and i put ads on it because we have to we have we have advertisers we have deals but but but also a couple of people in the communists got real shitty with me about you know your friend dies and you sell ads you called fuck and i was thinking about carl orl- and i can picture call 'cause i fucking die and you don't even cash in kind of like who how what did i teach you you fucking pussy downloads we're going to be hugh i picked picture call going you don't fucking sell ads on me i fucking die and you don't what fucking make a buck you fucking your bitch puck exactly right to write that would that would mean you're not cashing in what am i going to fucking pay double on the same content great michael bloomberg boomer hoffer says what is is one car i hate it until jason or chris harris changed my mind one ninety cosworth sixteen eighteen two point three sixteen you like it more or less i listened to jason's arguments for it and i thought that maybe my impression of the car was wrong and that that maybe he knows more than i do because he drove the euro spec one and because he's had a lot of time and driven a bunch of stuff and he cited some very specific examples that it's better even the m three at certain things and whatever and i don't love the thirty m three there and so i thought the only one drove stock yeah yeah it's it's very different talking about yeah but yeah so that's the one that comes to mind yeah i think didn't really change my mind no i don't think there was anything else i hate it until they changed my mind jason talked me out of wanting to buy three twenty eight ferrari ferrari three twenty eight which we've been talking about doing which i haven't talked about doing and he talked me out of it because he was looking at three twenty eight and he went to dr one and he cited some very specific reasons why should not what which is fine he just saved me eighty grant a great resource so you know that's one jordan says what are my thoughts on the m. two comp versus the original m-2 drove i think i don't know if this we kind of covered it covered at the time of that comment i i don't know if it was necessarily because i drove the original MTV by itself and i drove this one back to back with a bunch of other cars i happen like better but i got out of the two comp this time for feeling a little cold and detached and it just didn't it just didn't resonate with me despite the fact that objectively i think it was pretty good i also think i think it had fifteen point seven inch breaks i think it has like huge dodge challenger size his brakes and that the the breaking performance wasn't all that impressive for the size is of those encino breaks and i remember being like why do they have to be this big is this thing secretly like way heavier like it's that i think it is like i just i didn't like i don't i wasn't bothered by their existence it being that big but i did a video what you're going to see in the edit but i was like the thing is the biggest fucking breaks ever and it's like not like locking up the you know what i mean like it's so that bring you down as expected i was just left left after being kind of like okay it's all right there wasn't really it wasn't really the boat anchor it wasn't really the my thing but that's okay i think think i think my personal taste over the last couple years has re really transition towards rear and mid engine cars and how they drive as opposed to how a fast the front engine car drives i drove them to literally the only car drove that day so i had nothing to compare it to you also on the road i was on it wasn't on the brakes i i can't release to it i hope that answers your question NBA is french she wants to know about the cats cats are doing well they're integrated very well the kittens annoy conrad a little bit but nikki snuggled with biko last night in bed and it was great their quirks pico sleeps under vinnie's bed for pretty much all day and then comes out at night conrad has been all over my bed lately too i don't understand like the last the last couple of days he's been bonding with me because is your room your bedroom is out of the way of the kitten yeah and he's been annoyed he jumps on the corner of my bed and like certain times the day the sun will hit just right and he likes to sit in the sunbeam corner my my bed he follows the sun around the house conrad unfortunately is a little sick and has congestive heart failure how he's fourteen so yeah so we've got him starting medication did having given medicine and we needed a lesson on how to do that when we got home totally and so you know he's he's an old man now and and so we've got medications thanks for him and you know he could live years or he could live months and we're not entirely there's no really no way to determine how that we'll go down but it was really i felt like i learned like yesterday i was like wow i just like i learned how my pet is going to die and you don't know that he could get hit by a bus hit by a bus if it's it's been a bit of a tough a tough couple days buck you know he's he's fine he's i mean he there was something weird with them and it's why we brought him brought him in so had had you not done that at the medicine that like you said he could communicate but had we not done it yeah so anyway that's that's what's happening and then nikki is very very snugly and finn doesn't know how to snuggle yet but really tries snuggle but like he doesn't know how to do it so he was just like all over very all over you it's very funny nikki human step one is not moving yeah michael says oh sorry oh stephen says thanks thanks for the wasp buying advice oh there we go michael says are we planning on making a one million mile lexus or similar into a safari nope nope nope nope nope JR says what do i think of the essex i have thaw four videos on the NSF street track twenty johny seventeen twenty nineteen numerous podcasts probably forty it's forty minutes of content yep clay says should i keep my eighty six eighty six or sell and buy seventy two to forty ooh that's a new eighty six you're talking about cell so if it's an an eighties eighty six keep toma says is a lotus exe- s driving experience worth the s it's worth the money worth the money yeah because a lotta suggests driving experience costs nothing because you buy the car for fifty thousand dollars you put five thousand miles on it and then you sell it for fifty thousand dollars so the is it's not it doesn't cost you anything to own a use lotus that's that's that's the truth it all it costs fuel in tires other than that you absolutely wash out every single time oh couple nice people with donations nations who don't even need us to do anything for them don't even jump monkey just take this money is AO wants to know what my take is on the recent mazda rx nine nine rotary rumors don't have won haven't heard the rumor wouldn't even give a shit if i had i mean honestly the rx the rx eight was one of the worst sports cars i've ever driven it's it's such a terrible because the engine was terrible it like the handling of scientists it was okay but the engine in sucked so bad it ruined HSE that is very good it may it made the power of a four cylinder wall consuming the fuel of v. eight and it had a tiny a little tank they would and i almost got stranded in that car what a fucking pieces and it's more like a little sound like a dentist's drill i i don't have any i don't misfire bridge i'm trying i think following hurt from hooligan is helping me appreciate rotaries for their different nece but they objectively actively suck yeah because they're bad at their job yeah t- kind they're interesting job yup saucy p. says fifteen thousand bucks new england and daily driver c five corvette no eighty six no fiesta s. t. yes that's the answer michael says can you recommend a i watch between eight hundred fifteen hundred okay interesting position to be in michael because between about five five hundred and about two grand you're not really getting anything yeah like a nice saco is five or six hundred bucks and his every bit of the watch you're getting with like twenty five hundred dollar entry level swiss balanced mercy kind of thing eight hundred fifteen hundred is going to be your five hundred dollar watch but with a hashtag branding added on it so that that isn't that well like a weis watch that's not one of cameron's movements so for me weiss makes a couple of different watch three in fact different watches and then some sub variations of that the the american issue field watch is the only one that has cameron's movement in it and rats the one i have and that's the one you have yeah those are twenty five hundred if you you want the swiss movement one it's fifteen hundred so you can get it weiss you could also get let's see sin s yes i n n young hans which is spelled joung hans j. u. n. g. h. a. n. s. alpina is a nice as a nice swan let's see saco for sure orient young hans is a very bowel house he kind of german minimalist thing if it was meeting i'd buy i'd buy a five hundred dollar seiko turtle which is a fucking amazing watch second part of that question if i bring a coyote swapped manual crown vic to LA from north carolina will you drive it for a one take zach will fuck yes i will i will not that sounds amazing what does it sounds great for zach carl says hey matt love the show what was a car that before driving it you hate it but after the after the drive you liked it and have you ever gone to montreal montreal it's lovely what's a car i didn't like until i drove it and then it changed my mind that's very interesting i don't let's see what's a lot better than i expected it to be ooh this is tough what is way way what am i expect to hate bullet mustang bullet mustang i really liked expected to hate it hate it because you just hate the idea of the three over lobster and then i drove the new one like don't care about the three door thing anywhere lost her end is good enough that the three doors no longer matter mhm BMW i three i love the i three i thought it drove great in fact compared to the i eight i think i three is a much better use of this technology yeah that that card felt really great around twenty to forty mile curves yeah very good surprisingly good handling very comfortable incredibly well made the only reason i three sucks is because BMW intentionally put a small fuel tank in it because you can't it's it's a range extended EV as opposed to a hybrid if the EV range is bigger than the fuel range so they put a small tank in it to reduce fuel range to below the rain which is fucking stupid because they had a car that was practical as a volt that they made substantial that's practical bill because they would rather have EV extended credits than hybrid credits in our stupid credit system that being said they drive really nice daniel says you're making me hungry i go to like obama henry says earlier i said that the the road tests root for p. cody was fantastic what was it now i don't fuck in remember let's see we left highway seventy was part of it yeah we left if thunder hill and we went northeast into what was that national forest pull up a map yeah we went northeast from thunder hill was seven seventy and then we what was that what's the foot the national forests there what's that when we went into the plumas national forest forest and then we turned south and we ran down the back roads in that national forest that that's pretty much it yeah pulled out over pull that drop that and the miran south to those along those lakes and then we ended up in ah truckee bucks lake we stopped for lunch here okay yeah so we might have done that one maybe okay yeah what's a why are we cut over from sixty two that's it yeah the one sixty two that one was great and then we went down by truckee and we went up and over a bunch of fucking random mounds sounds i don't remember and then we were on the donner donner lake or donner pass or whatever it was that full force that plumas national forest i'd never been there there it was spectacular driving yeah i never been there before a corner of california i'm trying to find where we crossed over because they thought we were on the seventy for awhile and then jumped over to like for two bucks for lunch and stuff this whole area was that entire national the forest was absolutely incredible yeah that was nice anymore before we get out of here's zach thank you thank you and how was married life in the delicate the delicate works pretty good i'm laughing because it's like it was like a fifties he's fryer djelic is working fine my wife on the though my wife is unemployed and i was very stressed out about it and now she's really really leaning into it now she's fucking chilling the delta works yes you got a freelance consulting gigs which is nice goals good she's got a few interviews she'll be fucking fine the delicate works great it's slow but it's fun i'm taking it the in for a service on monday i wanna have the trans fluid checked and you actually can't check it from in the fucking van you have to do it from underneath yeah so the transplant checks and i felt really the timing belt because it's an interference engine and we don't know when if ever it was done probably you probably never be what's an interference engine interference engine is if the timing belt snaps the valves and shit smash into the pistons whereas if you have a non interference engine you could snap the timing belt and the engine will stall but it won't lunch itself the pistons and valves are timed in such a way that they'll never touch yeah as long as the timing is right but the minute something's off the clearances that type will stay open and then pistons will hit the valve and he gets a whole it's a huge it's it's a big big problem interference engine and you don't know about your timing belt you have to get the time about done so you know it was done at this at this usually a hundred thousand miles but in this case thirty years old i mean even though the mileage is really low it's still thirty year old rubber right i'm not super worried about it because in between when i bought it and in between when i took delivery somebody put three thousand kilometers on it didn't blow up so i'm okay but yeah renew the timing belt we're gonna have the translucent tested trans fluid checked and possibly changed and we are going to repair the speedometer which stopped working a couple of days ago oh f- out of nowhere i don't know why probably probably offered up like our flats or something else to see people ask when you're gonna offer like there are zero things to me that are appealing about offering a thirty year old vehicle that i care about the funding in the thirty year old car are it's gonna be for all cars go to heaven three and the car ain't coming back a lot and it's going to list yeah no the delicate i bought as a is for hannah hannah and for my business it's the airport shuttle for for west cyclic protect your out your investment yes and i'm gonna leave us with one thing yeah that's me getting climb climb out of the roof at kogi a lot of people have been asking me recently card vice and and i'm more than happy to give carte vice i i love doing that it's like a thing that i'm good at and then i'm into but they've been going about it wrong and i wanna be helpful but people aren't helping me help them and and the questions have gotten increasingly more absurd like should i buy a boxster or civic type r or maybe i'll just LS swapping FDR at seven or maybe a monster truck what do you think i mean today i got one that was like i'm looking at corvette a like a i'm looking at a brand new corvette a ten year old porsche of a five year old three or an audi a. three or at audi a seven like what am i supposed to do with that and i was thinking about like why that's such a ridiculous question and it's a ridiculous question because his cars are better than other cars they're just better for you and if you were to put those questions into the context of food i thought about this on the treadmill earlier what i want you to say is matt i feel like eating a hamburger tonight who makes the best hamburger yeah i wanna go there but but instead you're coming to me and saying match i got a hamburger or curry or maybe should i become vegan happened just asking tomorrow i'll call this question sounds should i eat a burger or become a vegan the that's how related it had corvette is to a ten year old nine eleven to an audi a seven it has to go back to like we talked that these are you're asking what experience do i wanna have behind the wheel and you need to narrow it down down to letting us know what is it you're trying to accomplish you know do you strictly want this specific like say i want this experience i need a what's the bech truck to tow toan what's the best thing i can do this with what you know what there's there's different reasons but like you said to to get that broad of a choice you're you're not you're not thinking about what does the experience that you're you're looking to buy you need to narrow that down before you ask whether it's us or any other car guy or even just on your own yeah if you're shopping for a car you're shopping for a purpose you either shopping for transportation you're shopping for a car shopping for a specific experience the experience may be just a daily maybe you need something with good gas mileage there's going to be convenient has satellite radio whatever but you need to think about the experience that you wanna have while behind the car and then and then i'll tell you uh who does that experience best but like you know it's like i would do i want to do i want you to stay on vacation do i go see the to egypt or do i maybe go scuba diving oh yeah like water how's the heat you get a gregory backpack a louis vuitton bag where cargo playing like stuff do you have a tag from ralph yeah i i don't want this to be like a me bitching segment helped me help you and if you call me not call me email me or message me on instagram whatever like i want to help you i want to help you but think about what it is you're trying to accomplish i need you to tell me the experience that you actually want to have and furthermore please please remember that test driving a vehicle is an option for you she don't there's ways you can go to places and and test drive cars at carmax and and if you and and you know and a lot of people who asked me the question of the you know dog want a hamburger or curry or become vegan they they are doing that before they've even driven any of this shit yeah and so they don't know what experience they want because they don't know what experiences available so like what you should do is watch videos or somebody's videos or whatever to get a sense of what that experience is for you for you decide if the experience silence i'm having matches the experience you wanna have from the video and if not asked me how you can get the best of that experience always use a story i had a buddy of mine who who i bought a car and and he commuted a lot and he had a specific system in the morning you get in the car he would go get his coffee coffee go here is phone would go there and had this system and he bought about this new car it's the car he always wanted into died he ordered it never drove it whatever and he went to get into like the first week and like he couldn't put his phone where he normally put it and it sounds sound silly like okay we'll just get some things but that was his system that's you know he had this way of doing things every morning at the coffee cup wouldn't fit the cupholder just write this this phone wouldn't you didn't have a place to put his phone where he could see it and it drove him insane people specific and i tell people like you know normal people ask us you know i want to get a car when i take it to the grocery store the normally go grocery shopping see about parking take it home if you have kids put your car seat in it put your put your bag you would take to work in it like you normally go through the motions of what being if this is a daily you know obviously if this is something you're going to use a little bit more often go through the motions of living with cars much which is humanly possible during the test drive because chances are there may be a switch somewhere like for instance you know the cadillacs if not having a volume knob for me drives me can oh yeah she didn't say but i'm a non customer of those car right 'cause i don't care how good that car is some people don't care yeah i mean for track car who cares whatever but i spent some time in we'll everyone has their own priorities yeah they think steering feel over side bolstering other people go i like the color the point is think about that stuff before you ask that's that's all that's our show see today's tuesday right the tomorrow's wednesday which means we have chris motherfucker importer coming chris ford is coming tomorrow he is a hilarious comic i don't even know what he knows about got cars but he literally commented on my instagram and i've seen his sets and i've seen his special and his he is i'm i'm thrilled to this guy wants to spend even fucking five minutes with me you should because he's hilarious he rules go check out his special tonight ugly and angry there's even avenue special since then he may have a new special since then i don't know that's the one i saw before it was all i strongly recommend oh a man from kansas is the other one what's the other one called yeah a man from kansas bullshit the newer yeah ugly angry couple years ago but fuck me is a great he's going to be your tomorrow five o'clock pacific time so join us again live all right everyone followed vinnie russo on instagram so you can see his cadillac zach clapman is going to be editing my p cody videos so we've got those coming out soon road and track p cody is in the november issue i think and i don't know that's all i got we're going to talk about tomorrow so that's it you need your car kept safe and in mormon sh- knuckled in LA west psych electric car storage has you covered in playa vista just one and a half miles north of LAX ex i got you it's my place bitch and there it is animated i can't wait to have real pictures of real building but one of the greatest joys of this project has been to look at the rendering and go fuck the building looks just like it yes so that's cool all right guys it's mokhtar podcast is powered by shout shout engine gets your own podcast at shouted

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8 Steps to Super Success and 400% Growth with Clay Clark

Entrepreneur on FIRE

45:44 min | 2 months ago

8 Steps to Super Success and 400% Growth with Clay Clark

"What's shaking fire. Nation j. l. d. here with an audio masterclass on the eight steps to super success in four hundred percent growth to drop these bombs. I brought clay clark on the mike. He is the former. Us sba entrepreneur of the year founder of six million dollar companies forbes contributor author of thirteen books in hopes of these six times itunes chart topping podcasts. With over nine thousand nine hundred eighty episodes. He's catching up to me and fire nation. We're gonna be talking about the first step to achieving super success. Why you need to trust but also verify and where most people get it wrong when it comes to achieving business success and so much more fire nation when we get back from thinking our sponsors grow your online business with online courses by jumping into think five day course challenge today over five days you'll hear from inspiring speakers who will walk you through the whole process so you'll know exactly where you're headed. Sign up for this free challenge today at dot com slash fire. That's t h. I n k. I f i dot com slash fire clay once again. Say hello to fire nation in share. Something interesting about yourself. That people don't know and you haven't shared yet. Hello fire nation. I'm klay clark. And i was invited by the president of the united states and the white house to attend a deregulation summit and i never thought that i would be invited to the white house for any purpose so that would be my fun fact. I have yet to share with and has a pretty fun. Fact fire nation. I know you're fired up because we're talking about the eight steps to super success in a four hundred percent growth with none other than clay clark and we also have a pretty cool guest. Randy will be introducing here soon as well. So clay as always. I just want to deliver maximum value as you always do so. What is that first step to achieving super success. What we have to get clarity on our goals for our six life. And i think a lot of times we think about our life as just one area but you gotta think about your goals for your for your faith your goals for your family your goals for your finances your goals your fitness friendship and fun you have to define your f six goals goals for your faith your family your finances your fitness your friendship and your fun you gotta think about that and ask yourself a tough question. How much does that cost. Because i know for me one of my companies. We cut men's hair and we do a lot of haircuts. At the end of the day. I want to generate ninety six thousand dollars a year from that. So that's what. I want to generate specific. Okay and i need to break. I pay myself approximately two dollars per haircut for elephant in the room so the guy comes in we cut your hair pay myself two dollars per haircut and we have thousands of members but the business exists to serve me. I don't exist to serve the business. I'm not going to build a business. That traps me. I'm not going to have a business to controls me a business that owns me. I'm gonna own the business and the business just a vehicle to get me to. Where i wanna go what i love is. You're just a numbers guy. You know the analytics. She know what has to work in order for it to work. You're very goal driven. So you know how to define goal so once fire nation has sat down and defined our own goals. What is that next step. Well the next step is you got to once you once. You have those goals very clear in your mind. Step one you define those goals step two is. You've got to figure out what it costs you on a weekly basis to get there and when we when we introduced today's guest on today's show. This guy does outdoor living. Okay he does pergola patios. Outdoor cimini has that kind of thing really cool stuff but at the end of the day if he builds a pergola and doesn't have any money left. What was the point. See you've got to be able to figure out. How much profit are you gonna make per customer. And how many customers do you need per week to achieve your goals. I just think a lot of times. John i a lot of people are passionate about their business and they don't think about how much money they're going to make per transaction and sadly years ago i worked with a lady that made these unbelievable desserts. I'm not thrown under the bus. I'm just saying unbelievable desserts that tastes great. And she said i need help marketing. And we got her to the top of google. We grew the business unbelievable branding and every time i would bring up the numbers she would say. Don't worry about it. My accountant will handle that. We're talking to be no need to worry about that. And what happens is is each month i would ask i would ask it. Turns out you can believe it at two dollars a cookie. She wasn't making more than ten cents per cookie. Now i ask you this. Her goals were to make over one hundred thousand dollars a year. How many cookies. At tencent profit to make one hundred thousand dollars. We did the math. And i pointed out to her. I said you don't even have the oven capacity. Wow to ever achieve your goal let alone break. Even and i think a lot of times as entrepreneurs we put our passion and our vision and our branding and though and our drip emails and our and our website and our business cards all of that at the front but the forefront our vision works were excited and we never take the time to think. Am i making any money here. We never have that. We just take a timeout. Take a sober moment and go. How much money does it cost me to achieve my goals. How much will it cost. And how many transactions do. I need to have per year to achieve that goal. Maho crew is lounging celebrating everyday. No more public house. I just picked up right where you drop it off. We're talking juicy. We're talking notorious. Klay united about the same age man. We know that song inside out. Genesis couldn't picture this. Oh rate unbelievable. Memorize those lyrics while playing. Nhl ninety six on my second genesis. Wow we are the same generation. We're almost the same person. I love this and let's move on to number three which is implementation. I mean we've done the goals we've defined them. What is implementation a lot of times. I don't get it and you don't get it. We don't get it but people reach out to you. I'm sure and say you know. John lee dumas. I want to advertise. Advertise on your. I've loved your audience and your audience loves times. People reach out for a quote. You give them a quote and then you never hear from. So it's like sometimes people just want to gather knowledge and your listeners are great listeners. They would never do that but other people and so what happens is a lot of times we watch. Ted talks and we go. Simon cynic said that that was interesting. Your wife asks your husband asks your friends. What did you learn at the conference you. Ooh that was interesting. And you leave with a notepad filled with notes that are interesting and then you put that in the junk drawer with your double d. Batteries are manual. You cannot throw away the manual. You put it in there with the old cellphone charger because you're not going to. This is a drawer where you put things that you're never gonna act upon you've got old cell phone chargers you got an ipad box. Some of you all have an ipad box. You haven't used that. Even what are you doing with you re gift using that box. The point is you take your notes and you come back and you don't implement in jail d about helping podcasters to actually grow an audience and i'm sure it frustrates. You know what frustrates me when somebody wants to help. But they're unwilling to pick up the hammer and hit the nail. I hit my thumb. You go listen homeboy homegirl. You are going to hit your thumb. But you've got to do it. And if you hit your thumb off enough you'll get better listeners. Right now somebody. I'm talking to somebody right now. Somebody is. you're talking to me. You are smart but you just keep ready. Aim ready aim ready. Aim to as an entrepreneur. You have to define act measure. Refine i repeat define act measure refined that. That's the rhythm define act measure refines. You have to reach out to somebody whether it be me or you jail d. or some other mentor. Who's clearly achieved success. After you vetted them and verified done your research you're gonna have to implement and implementation is all about activation. It's about a doing not being just a hearer of these words. But a doer of these words gnats the kind of people that i love to work with. And that's why we have such epic growth with our clients because when people reach out and schedule a thirteen point assessment my team vets them and i personally do all the assessments to find out ken. This person handle it. Is this person going to do it. And i think all listeners can handle it but will they choose to handle it and by the way so many of you fire nation have reached out and have actually gone through cleese. Thirteen point assessment. And we're going in a lot of directions over this entire interview today so before we go into the next step clay. What is fire. Nation have to do to take the first step to get that thirteen point assessment. Complete or going to do we're going to go to thrive times show dot com forward slash. Fire thrive time show dot com forward slash e o fire. And you and i have so many people that listen to your show. Listen to my store vice versa. A lot of people. They'll say clay. I used to listen to your show. I listen to jail. you know. it's kind of funny our audience and then they go back and forth you. Go to thrive time show dot com slash fire. I have listed. Willie take on one hundred sixty clients. Okay i've listed all one hundred and sixty clients that we've worked with in the past year and you will see their first name. Their last name their web address and their growth rate. Wow and so you can verify these people. And i'm telling. Our average client grew by one hundred four percent last year. So i'm telling you a better plumber code dot com. He grew by seventy nine percent. Jeff watson i say christina name is one of your listeners by the cape cod auto body based in boston this lady loves livestock and she loves bill belichick. I love her business. By sixty seven percent you talked about steward waco with accolade exteriors dot com grown by eighty two percent cat barbie by one hundred and forty percent with barbie cookies dot com brian t armstrong growing by eighty nine percent. I mean this is real talk real time real two thousand six real talk and some people say i have a job people. Say what's your job. I have a vocation and that's a calling it a calling where you feel called to do this. Go to thrive time. Should i come forward slash fired to schedule that thirteen point assessment. It's going to be straight fire. Fire nation and remember these words defined act measure refined and. I personally love getting these emails from people that are listening to claes pass. Shows that he's been on before and then going taking this thirteen point assessment connecting with him and some of the lucky ones becoming one of his one sixty and having that average one hundred and four percent growth over the course of a year massive massive stuff and clay. I love your phrase. You wanna make sure your goals your values in the plant of your mentor. All align break that down for fire nation. What do you mean by that okay. Well when when working with randy who you guys will meet in just a minute. Randy reached out to us. He had a company has a company called pm h. o. Casey builds purtill is outdoor kitchen. These cool things and he was referral from his friend bronson and a great guy. He's a top selling insurance agent guy. And i met i met randy. I'm going okay. Guy is. He has the same freedom-loving values i have. He believes in the constitution. He loves his wife loves his family and believes the business should be vehicle to create financial freedom and time freedom to to help these people. He didn't have nefarious goals. He didn't say my goal is to dominate the universe into destroy humanity. I mean he wasn't like doctor. Evil my girl is true. Appalachian destroy all the cookie companies. Might down. I mean there are people that do reach out and have your nefarious. We've we've all met these weird people's house in our life. So i sit down with people and i go over their goals and i would say with your listeners. I would say so. Far two thirds of the people who reached out share my same values but there are some people that have reached out. Who say what i want to do. Is i want to grow my business. But i don't want to manage any people And i don't buy the daytime hours or calendars and i'll excuse me. I just don't do daytime hours or calendars. And i don't do people but what i wanna do. I wanna make millions of dollars auto shipping supplements. That i am i that i'm going to white label and i say i know you can have success but if you're getting a supplement that you can white label in ten minutes and everybody else can to may be. That's not scalable. Maybe not do. And i'm different and your different jumping. Just take people's money. I don't wanna take somebody's money right now. That's why our program a month. There's no contract. It's a month to month and people are are a walking billboard for me so if you're running around town going on man i played i paid klay clark thousands of dollars and he hasn't grown my business at all. That's not good for me. So i don't want to work with anybody unless they're a good fit and thankfully your listeners. Know about the energy andy. Focus needed to have success because they listened to your show. And they've heard your interviews with tim ferriss and tony robbins and so many great people you've had on your show. They they buy into the work ethic. They know your story about how you started your podcast with an audience consisting of you and maybe one other person that you paid to listen and you just kept record every day and you grew that thing so your listeners. Buy into diligence. i if you're a diligent doer. you're gonna love what we do but man if if you're if you're somebody wants to sit back and took my ties and that you cannot oh ship your way to success with doing no effort at all. Please don't call me fire nation if you can't take the heat get that booty the kitchen because we're on a mission and we have some killer killer value bombs coming up as soon as we get back from thanking our sponsors for our home is now more than just our home for some of us it has become a classroom for our kids and office are work or a yoga studio for our workouts. If you're a business owner or manager hope also be where you do. You are hiring. That's ziprecruiter comes in. Ziprecruiter makes hiring faster and easier because you can do it. All from one convenient place ziprecruiter dot com slash fire. No matter where you're hiring from ziprecruiter. Does it work for you. How ziprecruiter's matching technology scans thousands of resumes and profiles to identify the most qualified. People for your job. If you're really interested in a candidate you can even invite them to apply to your job with one click. Ziprecruiter sends them an email from you helping you stand out from the competition. It's no wonder that four out of five employers who post on ziprecruiter get a quality candidate within the first day. And right now you can try ziprecruiter for free at ziprecruiter dot com slash fire. That's ziprecruiter dot com slash fire. All you need is wifi to try it for free. Just go to ziprecruiter dot com slash fire ziprecruiter. The smartest way to hire think if is the best platform to create market and sell your own online courses and we speak from personal experience says moving our online courses over to think and twenty seventeen and we have welcomed thousands of students into our courses. If you're currently training people or considering it as a business model you've got a book blog. Coaching practice youtube channel. Or podcast turning that into an online course can help you reach a wider audience build revenue and make a bigger impact and think of it is the perfect partner to have by your side plus think if it has an exclusive offer for you fire nation to join their free five day. Course challenge over five days you'll hear from spiring speakers who have first hand experience and building a thriving online course business including myself get ready to take all the guesswork out of getting started. One student who recently finished challenge said this is an excellent course. It keeps you moving and takes a lot of the intimidation confusion out of the process. I would highly recommend this challenge. Sign up for this free challenge today at dot com slash fire. That's t h. I n k. I f icy dot com slash fire clay. We're back and listen. Trust is important. We all know that. But why must we also verify. Okay well step five. This is this is big is we want to look for testimonials references case studies and a trail of success. Randy always says know you have to earn right to criticize. I would just say like this. I agree with that that phrase only the paranoid survive. Andy grove said that. Andy grove is the co founder of intel who escaped the communist controlled hungary at the age of twenty and bill intel. And he points out. Listen just because. I'm giving you a photo of of jail de totally transparent. I've never taken a photo with you. So do this. But let's just say i i kind of photo bomb. You and i'm like look over there squirrel and all of a sudden important role and i jump in and take a photo of us real fast. Just a lot of people that do that. So don't just trust a photo with a celebrity. Don't just trust well. You know. I've done a lot of work with mcdonald's and here packer i'm just throwing out big companies and i did some work with chamber and i did i if someone talks like that. Probably just wrap up the call. But i a lot of work with mcdonald's and the chimp because people hide behind big logos as seen on fox. We were you on fox. I was seeing to stop it. So don't buy into this. Mockery the photos you know. Don't do that. The fake number of tweets twitter followers. I've got about ten thousand twitter followers. I don't have a million. I'll tell you why because a lot of people aren't diligent doers. Now and they don't want to be accessible and you know if you want to implement and you just want to like what i post and feel good about your life. You won't like me but if you're somebody who's diligent dur my tribes pretty loyal. But you know this jail do you can pay for fake followers. Fake and fake that and so you got call real references to real customers call verify so many people are shocked when they reach out to me for a thirteen point assessment that i actually am on the call and then i actually freely get out to cell phone numbers of all my clients. And they're like i can't. I can't believe you did that. Listen folks trust but verify everybody including me fire nation so true on every single level. You see these people that are millions. Sometimes of his grandfather's that literally could be bought overnight. It's just one of those reality is out there in the world. Trust people who trust like hopefully myself and claire in that category but also verify also verify now moving onto number six. Where most people go wrong when it comes to achieving success. Where is that clay. When we implement passively so when working with randy with his company see. I gave randy a path and let me tell you how detailed the path is. The path is usually about seventeen eighteen pages. Long takes me five to six hours. You could call it a blueprint. Okay and i freely. Give this out to people. After doing an assessment randy lit up like a christmas tree. Like a kid. Who sees the christmas tree the night before christmas. And it's like if this path works. Will we have success and you go. Yeah and because he knew of me through a friend this dude. I told him i said. Listen in order to get the top google. There's four variables we have to implement. Okay spend by the way. If you're listening right now please take notes on this and you can download my free e book right now. If you'll shoot me an email to at thrive time. Should i come in foot drive time. Show dot com. I'll give you the free book that lays out for but there are four variables that get you to the top of google sort of your listeners will type into google right now. For joplin gyms j. o. p. l. i. n. gems g. y. Ms or do a search for okay. See pergola okay. See pergola p. e. r. g. o. And it's okay. I'll i'll wait for you. Search real quick for second hyphen. Joplin gyms okay. We got joplin or or moment type in okay see pergola or or do both. I mean you can do both everyday both. You're going to see that randy's company pm h okay see comes up top and you're gonna see that cola. Fitness one of my clients comes up. Two clients come up top. Why told ready to get to the top of google. You have to do four things but four. Are you have to get the most objective. Google reviews from happy customers. He says i'll do it. Did he do it jail d. But he did it in record time to you got to have the most content and he says okay. Well how do you do that. We taught them how to do it. He and his team wrote content. We wrote content boom point. Your website has to be economically compliant to follow google's rules and he says okay. We'll do that for me. Will we did boom and important for us that it has to be mobile compliant so many people are using mobile devices for everything and he did it. He did it. I got a good video. I walked them through next step. We've gotta get video testimonials and he did it next step. We gotta make a sale script of one sheet all these things and he already had the fundamentals all he needed was some basic systems and processes and it took off. Because this did is products are good with your out there. And you have a product or a service no matter how much marketing and branding and energy put into it. You have to have a great product. You can't over brand your way past a a bad product. Okay so people. If you're someone finds you on google by typing in. Okay see burglars when you install the pergola they're going to have to look good Otherwise people are not gonna come back. Now you gotta get a while to customer by a nation. Wow the customer. Like i have so many people podcast paradise when they're looking to go all in like john. I'm going to spend like three four thousand dollars a month on facebook gas to get people to listen to my podcast. I'm gonna do this and that they have all these different plans. And guess i go. Listen to the podcast and it socks. And i'm like why don't you. I spend the time energy and effort becoming a good podcast hosts honing your skills learning how to interview learning how to actually create good content. Because you can spend all the money in the world getting all the listeners in the world. they're coming back. they're not gonna refer your podcast going to recommend it. They're not going to do the subscription. Leave a review. Do all the things need to do. That's the core thing when it comes down to a job. I'm sorry what are you coming to tulsa. When i get a plane ticket in the mail from me brother dude you gotta come to tulsa. Because i feel like if you came to my conference center you would it would be like. Oh it'll be like you'll feel like you're in puerto rico minus the ocean views. You're going to love it. i'll come to your center. I'll come i'm ready. Let's do it okay. We get off here. We'll go arrange a time. Because i know people say clay when i came to your conference center. That's when i got it when you see i twenty thousand square foot building with testimonials on the walls from clients since two thousand six handwritten. Thank you notes. We have a crazy program called. Bulwark for yeezy jailed. For i tell my clients it's give to receive a lot of my clients become millionaires and they start to feel bad. 'cause they're like man making a ton of money it's like i should be given back and i say you gotta ship me a pair of skis. I've got yeezy boxes all over the walls. Thank you know notable quotable 's it is it really is. It's not probably as swag delicious as your backyard. But it's right there. I mean well. As soon as i get randy to create a pergola in my backyard. And we'll be swag delicious for sure and we're going to be bringing randy on here pretty quickly because you klay believe in putting the blinders on and just focusing on implementing and this is you know after you found your mentor in approved plan. So what is the value of putting these blinders. On and just focusing on implementation. Chet holmes the selling author of the ultimate sales machine he said the missing ingredient for nearly all of the one thousand plus clients. I've worked with directly to improve their businesses pigheaded discipline determination You might call that. The phd pigheaded discipline and determination. We all get good ideas from seminars. And from books radio talk show and business building gurus. The problem is that most companies do not know how to identify and adapt the best ideas to their business implementation. Not ideas is the real key to success. Or thomas edison. We couldn't get him here because he's he's dead man who started lightbulb and recorded audio. He said vision without execution is hallucination. So just today. I'm pulling my calendar today. I'm doing an interview with you today. Which i'm so honored to be here with you. I'm i didn't enter a twelve thirty with dr richard. Bartlett the former top adviser for governor perry of texas for seven consecutive years the top medical adviser. I didn't interview with the sergeant and arms walter west. I'm doing an interview with senator bob hill. I've got four interviews today and let me tell you what i'm doing when i'm doing those for interviews. I am mentally and physically only doing those interviews. I'm not updating my twitter status. I'm not text message in my lady friend. Although my wife is a beautiful woman. I've been married twenty years. I wanna texture right now but i'm not. I'm not taking calls for my kids. I'm not distracted. And so many people live in this distort. Pia called perpetual distraction according to psychology today so much should look this up. The articles called is your smartphone. Making you dumb check this out. Is your smartphone make. The average person is interrupted now over one hundred times per day and according to inc maxine. Check this out with you get even one interruption. Fast company says this check this out. Psychology today says this. Check this out if you could even one interruption. They're saying it usually takes twenty between ten and twenty minutes to refocus talking about so. Imagine what it would be like doing an interview with me. If we're talking and i said wait a minute. Sorry jailed. I gotta go chasing squirrels. The west calling what had happened was i just got a call. I mean you know we welcome a zoom call with the guy who's in the bathroom and he's trying to play it off like he's not in the bathroom come on. We've all been golfing with that. Dude who insists on making cold calls taking calls did it doodoo did it do while whacking the ball. We've all been to the movie theater with the guy that thinks. The movie is interactive who warns the guests who warns other guests like look out. Oh no look. Luke savor what's he we've all been with these distracted people and it makes it impossible to do life man. I mean fire nation. I hope some of you got hit to the core being exposed and listen. It's a reality that a lot of us have to deal with. Distractions is pretty much. Almost everybody else's number one job is to somehow distract us is to get. Our attention is to take our focus off of something and look at them. Look at their their service. And it's just one of those realities fire nation. look claes doing today for quality interviews. He's focused. Clay is number five not to call you all klay your number five of eight interviews that i'm doing today and guess what i'm focused. This is my super bowl. Hey real quick kanye west and his new album. Jesus king one of the lines he says in the song follow god he says i mean i'm just focused and pauses. He says i mean. I'm just focused. He's supposedly i mean i'm just focused. He said it multiple times focus means focus on core tasks until success. I love it all right. So i built largest. Dj entertainment company for weddings. Dj connection dot com. All i did was focused on growing. Dj connection dot com to do four thousand per year or recently with this whole covert thing. I have realized. Hey look there's a lot of information coming out there. So i have to do is i need to start a conversation with people that know the truth so i reached out to sit to use housing secretary. Ben had him on my show talking about covid. Nineteen i've had dr richard bartlett on my show talking about covid nineteen. I had dr knife chief talking to kobe. Nineteen dr dan. Erickson the famous doctor who keeps getting banned from you to a youtube talking about kobe. Nineteen the white house. Press secretary talking about covid nineteen and you go man. Apparently you want to know about covance. I don't want to but it's hard to have a business that's open if you're forced to be closed right. I mean that's my theory. I'm working on jail. If you're not open you'll probably be close. So i just obsessively on interviewing doctors. And i'd had so many listeners dude. I've never heard more medical knowledge on one podcast. Then your podcast recently. And i'm like man. I'm my listeners are asking where where can i get treatment i wanna i don't wanna die. Where can i get a prophylactic. Where can i get a treatment. And so i'm talking about boudin. I'd pulmicort tutoring thirty seven dollars. By the way folks pulmicort nebulizer podesta and zee. Pac has caused zero patient fatalities when used on thousands of patients. That's a crazy. fun fact. Zero percents a pretty low number. I've had my listeners reaching out to me it's like i'm a drug dealer of fda approved drugs where i make zero commissions. It's a fabulous thing. I'm just telling you got focus. Focus fire nation so cass and number eight clay as we wrap up the eight steps. Here is your phrase which i love. You must surround yourself with the competent team. If you want to fulfill the dream. I love it because it's right. I love it because it rhymes. What do you mean. Well i mean some people and this is how i work some people say i can't listen to it unless it's in the bible so i'm going to give that to this person. Proverbs thirteen twenty says walk with the wise and become wise for a companion of fools suffers harm. So that's for you biblical people out there the you you judeo-christian like myself. Some people say if it's in the bible. I can't hear i'm not i'm not into that okay. Cool well tim ferriss said you become the average of the five people you spend the most time with well. I find that a lot of entrepreneurs randy with pm. Okay see or charles cola with la fitness dot com or josh with living water irrigation. Okay dot com is three great listeners. Living water irrigation. Okay dot com again But by the way sean homes dot com who had on a previous show. The first year. I started coaching with him jail. Jd heated twenty four million dollars of sales. The whole year heated seventeen point two million dollars of sales this month show homes dot com real talk but these people they don't have a video offer. They don't have a photographer. they don't have a web developer. They don't have an online ad manager. They don't have a content writer. They don't have a public relations team. And so i say look for seventeen hundred dollars a month if your client. We're going to do all of that. So when you say how. Josh with water irrigation. Get on the kelly clarkson show well he is hit and we did it. How did shaw homes become. The you know the people giving away the saint jude home. How did they end up on the news. Well we did the pr. Well how did they end up. Top and google while we did the web development. You say you mean you get all that for seventeen hundred dollars a month to month. What's the catch currently. I don't know what the catch is jailed. Because my wife tells me i should charge more and i don't feel happy spot. I mean seven hundred dollars a month clients are happy. I'm happy it's a win win. And it's just a fabulous thing so we're going to surround you with a great team but if you're not there today and you're working with a consultant and he says jail ding you got update your website. And you don't have a team jail. Do you remember that when you were first in your podcast and building your site and you didn't have any competent. People outsource to when you first started. Gary you could probably what spent a whole day trying to make your mic work. One day i mean. I remember that spending an entire day when i was building my business trying to update a website thing and then crashing. A whole day ended a video only to discover that you export it where it's like too small to fit the frame so it looks bizarre or the words. Don't actually say. Jackie chan movie or something. I mean i do need a team. Go to thrive time show dot com slash e. Oh fire. At thrive time show dot com slash ito fire research. Our clients schedule thirteen point assessment. Your life will never be the same again. And i mean it will never be the same fire nation and there are so many of you who have already experienced that in the flesh in person. So if you're somebody who hasn't why not be the next person. Take that step up so clay. We have randy. He's been very patient he's been hanging around so we've him in how you wanna we've him in as we slowly slow things down. Well randy you have attended. I'm not gonna mention the names of these people because some of these people are great people but you you had prehistoric into into me. Had you attended a lot of self help seminars. In the past yeah well first off clay. Thanks for having me. yeah yeah i. I've been to several tony robbins. Just other little conferences around and it just not even comparable. Now tony helped you get the right mindset as i understand you learn the sales skills and processes but when bronson told you did did brunson tell you about us. Is that how that worked. Yeah lebron's brought me to this conference and honestly whenever i first came. I was still skeptical. Just because i know what most of these things are and you know bronson is one of my best friends and so You know really. He did all the vetting for me. He just brought me. And it was just completely life-changing now when we went to pm h dot com listeners. Just went to pm. H okay. See dot com. And they're looking. They're seeing outdoor kitchens. Purgas how long have you been. How long have you been in business before you ran into me. So we've been with each other about a year and a half. And i was in business for about fourteen and a half years right before i met with you and so we're close to that sixteen year mark right now former a firefighter union wife work together. And i believe we've had several weeks this year. In if i'm exaggerating jailed is going to call me out and you can too okay. Well i feel like we we had. We have several weeks in a row. Where your per week are like two hundred thousand dollars a week. Two hundred and fifty thousand a week. Three hundred thousand and then we had a three fifty seven was a week. I mean we're having fire nation. Listen to this three hundred thousand dollars a week of sales. Where were you at before running into us. Because you'd already built quite an impressive thing you know. We were on pace for about two million a year when i've met with you You know beginning of last year and You know we ended up kidding about four million dollars in the year so we played some major catch up right there in the year and really i attribute almost all of that to all of the systems that we implemented and this year obviously scared people away from building. Some things also encouraged a lot of people to buy things and by the way jail the he has another brand called patio. Galaxy dot com patio galaxy dot com or he makes these awesome cedar tv enclosures. And we're having people from all over the country now buying those from you which is cool because some people are staying at home. They're turning the backyard into a steak. But what do you think you're on pace to hit this year at this point between 'cause we're almost at the time of this recording we're talking september. Where do you think you'll end up for the year yet clay. I was looking at the numbers just last week. And we're on pace to go past eight million this year so from two million to eight is where we're headed with that jail. The i think. I'll open it up for you to ask any questions. Because i you are a great interviewer. Who's a little bit of a skeptic from time to time which is great. Because i don't want to be spouting some hyperbole to the to the fire nation. Why we'll say this. I love when i hear success stories like this but one thing that always pops into my mind. This is for you randy. Which is if you're looking back. You know going from two to eight million. What was one of the specific things that you did that you look back. The had the biggest leveraged the biggest change in really kind of getting to that next level. Well that's an easy one for me. I mean with hands down. It was getting top google and going into the conference. That was one that was one of the main things that we was really taught. And i think when. I heard all the stuff that klay taught about getting top of google. I thought i stopped listening at some point and i was just focused in on like i gotta get top. Google goes into google views. And not only that but freeing up my time with group interview so i can focus more on getting top of google group interview. I want to make sure jailers' listeners. Get this today at five thirty central so about three hours from now. I'm going to interview. And i want everyone to picture this. I'm going to interview forty plus adult at the same time in my building. Forty people do the entire interview and less than forty five minutes and that is what a group interview is. Were you interview. Forty five people in less than forty five minutes and it is awesome. it is getting to. The top of google was a big thing. But i know what a lot of people struggle with and this is where i'm really seeing people be able to make that next leap and then next step in their business is what you actually do. When you get those leads in like so many people just let these lease wither and die on a vine. So did you and clay set up some kind of system to really maximize these leaser coming in. Now that you're number one. On google china this real quick i'll let randi goes randy's alpha randy's alpha so when randy gets a mouse aka lead he assumes that you actually want a pergola so watch out i mean you'll you'll call them right away. Well i mean. I'm a salesman by nature and so you know. Sales comes easy for me but you know one of the things that really helped me out and you know it doesn't matter how good of a salesman your doesn't care doesn't matter how long you've been in business really what i learned from clay from that side of it and this is what i really did with the leads was tracking that we implemented and so from the very get go with clay he said. Hey you're doing great but you know how many leads that you had last week. How many Set have in. So we wasn't really tracking all of that we. We started this tracking sheet and not just tracking on cells. But i'm just every single little thing. Google reviews leads photo. Adspend yeah add span and all these things combined it just you know you measure what you treasure is what kept klay says all the time and started that tracking sheet and You know seeing the growth is just been crazy to look at every week on a weekly basis. Jail the going to point out something. I advertise on your show for our conferences eliminate the only one hundred sixty spots and so conferences. It's kind of the thrust of why advertise with you and and my wife. I love your show cates. great. I think you're great. Cates nicer than you. She's nicer than me. You're a great couple. Serve the military. I've got all the reasons why i want to do. Business with you but at the end of the day. I got to bring in more money than i'm paying. Yeah i mean that's what it comes down to. I've got to bring in more money than i'm paying you and i'm not going to share this air. How much spinning with you. But i would say. It is a significant portion. A significant amount for many people for many could be considered massive stomach. Not maybe not as much for others. But it's a lot of money. And i can tell you every month every quarter every gets every month. Kate will check in and just make sure that we're happy and i can say this. I have never been happier with an advertisement. I have ever done in my entire life ever ever ever. Because you actually track you. Follow up and i know what the break even point is. I'm telling you listeners. My secret sauce. Okay the tickets to a conference on average are two hundred and fifty dollars and i got to sell a certain number of two hundred and fifty packages the break even okay. So let's just ask thousand a month with you. Which i don't let's say that would mean i'd have to give sell four tickets just to break. Even we don't have any upsells. We don't have a magic money system. We don't have any upsells. There's no up selling so. I've done the math and we we do do far. Better than break-even. I'm honored to be a partner with you on the advertising side. I'll probably never stop doing that. Because the tracking just makes sense your audiences so loyal because you've been loyal to them. We'll clay i mean. This is music to my ears. Because this is what we consider the perfect partnership where i can have you on the show every few months and we can promote your product services conferences and know that our audience fire nation is going to be in such great hands and have their businesses explode their minds explode with just brilliance and knowledge in all the things that rain has been experiencing that ran has been sharing. And i just love all of that so klay. Why don't you take this home. You want to wrap up this episode where we're going to make sure the fire nation knew all about the thirty point assessment about the conference. That's coming up that by the way. Sounds like i may be coming to so. Let's let's talk about this by the way if you do come. I'm gonna fly on a premium southwest airlines flight. I'm gonna get you at least two three drink tickets so you can sip on the drink. You don't have to wear a out tip. it's still working on still working on it. Still wearing so my my three capstone dots. This is one. I believe genesis. One twenty seven correct from the bible when it states so god created man in his own image in the image of god in the image of god created he him male and female created. He them when i'm saying is we're all created in god's image. I don't think anybody out. There is a mistake point one. I don't think anybody out there a mistake point one. I'm talking to somebody right now. Who didn't have a dad who didn't have a mom who did have a mom or grip in poverty. You grew up without like me you grew. I started as a kid okay. I couldn't talk very well. We had no money and listen. Somebody thinks you got forgotten. I'm here to tell you you're going to have massive success whether you hire me or not. You were created in his image. You are not a mistake. Point number two now that we know we are significant. We have to decide. Are we going to try to build a house without a blueprint. Are we going to try to make cookies without a recipe. Are we going to try to reinvent the wheel. Why would you do that. Why would you do that when you have a proven path so you've got to find a proven pathfinder mentor. Find a coach. Find somebody if you if you find us. We help you. That's great if not. That's great if you want to become the world's best podcast her call j. l. d. doing learn how to grow a business. Call me whatever we'll help you. Okay point number three though. Don't trust me please please. That's the problem right now. We cnn we watch fox or watching abc. Were watching. and you're going okay. It must be true saturday. Okay okay i mean do you think people have a agendas you know. Do you not think people have agendas. I mean come on so we got a research. Don't just skim. so go. To thrive time show dot com for slash fire. Go to thrive time show dot com slash fire and go there with the urgency. Like you'll be dead soon because by the way you will be okay. Go to thrive show dot com slash fire and then look at the testimonials wrestle with research. Look at the stats. Look at the data. Call us schedule. A thirteen point assessment. In let's get serious and we have a scholarship available for people in need. And i'm proud to say a guy who you've had on your show the grill blazer dot com grill blazer. That guy went engineer. You by the way. Bob has cancer. He's got all these reasons to say. He couldn't do it but he did it. He reached out. And bob has grown from a startup. He's an engineer in his late. Fifties with an idea and a prototype. We helped him raise a half million dollars on kickstarter. And now bob is selling over forty thousand dollars every week at a fifty percent profit margin jail the that guys making every week twenty grand if you make twenty grand every week. That's a million bucks. You can do it. Let's go through time. Show dot com forward slash. Eeo fire clay. Thank you brother for sharing your truth. Your knowledge your energy your fire with fire nation today for that brother we salute you. And we'll catch you on the flip side. You're a great american. Hey fire nation. Today's value bomb condoms. Brought to you by clay ends. This one thing that identified over the years is that successful entrepreneurs they are productive. They are disciplined. They are focused individuals. And that's why i created the mastery journal. It is a gorgeous faux leather journal. That will assure that you mash productivity discipline focus in one hundred days. It's my best work. Ever fire nation my best work at visit. The mastery journal dot com. Use promo code podcast for fifteen dollar discount and thank you for listening to my podcast and i'll catch you there or catch you on the flip side grow your business with online courses by jumping into think ethics five day course challenge ted day over five days you'll hear from inspiring speakers who will walk you through the whole process so you'll know exactly where you're headed sign up for this free challenge today at thinking dot com slash fire. That's t h. I n k i. C dot com slash fire.

randy four hundred percent Google klay clark five day two dollars one hundred thousand dollars tim ferriss clay clark six million dollar Randy ninety six thousand dollars cimini John lee dumas Simon cynic Andy grove one hundred four percent seventy nine percent sixty seven percent eighty two percent
This American Life wins first Pulitzer Prize for audio reporting

podnews

03:17 min | 9 months ago

This American Life wins first Pulitzer Prize for audio reporting

"The latest from our newsletter and Pod News Dot net maximize radio stations by PR ads. And it's one the first ever Pulitzer Prize for reporting a journalism award founded in one thousand nine seventeen. The award was for their episode. The out crowd with Malia tool if the Los Angeles Times and Emily Green a freelance with vice news the judges described it as revelatory intimate journalism. The finalists were ear hustle and NPR's white lies. What is today's most popular android? Podcast APP with seventy four percent of mobile phones running android in the world. Which podcast APP should you be linking to? We looked at the downloads. Ratings data to find out whether there's a clear leader and there is you'll find it links from our show notes and newsletter today try digital has released its report for the four weeks ending April twelfth by average weekly downloads. The number three is immense Shapiro. This is the Ben Shapiro. Show Ben Shapiro. Show and number two to my favorite murder number one live from. Npr News Washington NPR news. Now on the top network was NPR's well. Though a fourteen new entries in charts sit measures podcasts from participating publishers. Hey cast has expanded its podcast network. Partnering with South Asia's Gio sovereign which has one hundred and four million monthly active users old if a casts content will be appearing in full NGO sovereign in the next few months. We're also available there as well. She podcasts live will be in Scottsdale Arizona in the US on October. The Fifteenth Year organizes have confirmed. Lipson our reissuing. Their financial statements for two thousand eighteen reported income for the year was five hundred. Ninety six thousand dollars too low. I know that feeling lip since former. Cfo John Bus House resigned in October. Two thousand nine hundred and if you'll switching podcast hosts because Google podcast uses your rss feed in its button. The also need to change your Google podcasts. Button on your website. The company tells pulled. Musa they aim to redirect about your L. to the canonical fate soon. It does follow the rules. Your existing subscribers though see won't lose any training times change consumption podcast. Traffic is continuing to recover. According to latest data from poor tracked last week was two percent higher audience virtually flat for downloads comedy. Podcast Fed Best Service Measures. Podcasts from participating. Publishers focused news. The New Media Show Cochran Rob Greenlee has an interview with Bradley Davis the CEO of Pods Chaser. Privacy is also the subject to podcast movements ten questions seven. Am a Daily News. Podcast FROM AUSTRALIA FROM SCHWARTZ. Media has joined a CAST DOT Lab Radio. Podcast from DC. You Business School. And the Irish Institute of Digital Business Has Guest Matt Deegan in their latest episode. The rise and rise of podcasting and the opportunities for brands and organizations that's creative director folder media and a founder of the British podcast awards. And there's plenty more and other inks in our newsletter. Subscribe at Pod. News Dot net.

Ben Shapiro NPR Pulitzer Prize Google NPR Los Angeles Times Npr Malia Emily Green Arizona Irish Institute of Digital Bus murder Washington Lipson Matt Deegan South Asia US
Craig McLachlan Found Not Guilty 15/12/20

From The Newsroom

03:11 min | Last month

Craig McLachlan Found Not Guilty 15/12/20

"The headlines from news dot com. hi. I'm lexie kat ryan manager buck lloyd and this is the latest from the newsroom. It's cheese day. The fifteenth of december australian actor. Craig mclaughlin has been found not guilty of all allegations. He assaulted women. While performing in the rocky horror show. The fifty five year old was charged with seven counts of indecent assault and six counts of common law against four women. The court hearing beginning twenty nine hundred and heard for more than a dozen witnesses with the magistrate today ruling. He was guilty on also thirteen charges of essays now in donald trump's attorney general william by has announced his resignation the president who has publicly criticized. Mr. baas performance racing days announced the move on twitter today earlier this month. Mister bob pushed back on the president's claims of voter fraud. He said the wall. Fbi agents boy following up on specific allegations. They had not yet found fraud on a scout that could have affected a different outcome in the election. It calms his dry biden's victory of donald trump was formalized by the electoral college today effectively blocking any remaining path. Mr trump had to overturn the to other news. Now and pornhub has deleted marched if the video is on its side following a backlash. I've deprived content. This odd has been in the crosshairs for seemingly laws. Fa perch to content moderation that allowed videos to remind without verifying the consent of the people in them videos that in some cases even featured child-sex-abuse pornhub is now brought him what it claims are the most comprehensive safeguards and user generated platform history as a result more than ten million videos have been removed from the site and their analysis. Three million left. We'll take a break to entertainment now. And smokey robinson you know the motown legend yeah cole. He's gone viral thanks to his hilarious mispronunciation of the word hanukkah in cameo video so the music icon was asked to extend his well wishes to a woman named margo video. Message in light. Of the annual jewish festivity right here what robinson wasn't aware that hanukkah is sometimes spelt traditionally with a say in front of right. So it's kind of like chanaka on pipe guy but he got a little bit confused. Have listen to this and they want to wish you. Happy new khor. I have no idea what you is but happy genug because they said so anyway. God bless you babe and enjoy shinyuka honestly that video doorbell finishing spoil an australian super nipple team has been with a three hundred thousand dollar fine. After it was caught cheating. The west coast favorite team was fine. The lodge som- docked twelve points for the twenty twenty one season after being found guilty of salary cap breaches with more than two hundred ninety. Six thousand dollars over two years been at bow commission found that north bay the plays were aware of the breaches and that narconon coaches including cards stacey marinkovik involved in the trading and want to celebrate the end of the year with a bang. We're giving you the chance to win a share. A five thousand dollars cash. All you got to do is head of a news dot com dot us slash win to enter christmas cash giveaway from we'll have another update in the morning. Your headlines dot com.

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NPR News: 02-06-2019 2AM ET

NPR News Now

04:52 min | 2 years ago

NPR News: 02-06-2019 2AM ET

"NPR podcasts are now available on every major platform checkout all our shows at NPR dot org slash podcasts. That's NPR dot org slash podcasts. Live from NPR news in Washington. I'm Shay Stevens. Bipartisan unity was a major theme of President Trump's second state of the union address. Trump says Democrats and Republicans came together on sentencing reform, the opioid crisis and the farm Bill and Chanel compromise on border security. Congress has ten days left to pass a Bill that will fund our government. Protect our homeland and secure are very dangerous southern border. Now is the time for congress to show the world that America is committed to ending illegal immigration and putting the ruthless coyotes cartels drug dealers and human traffickers out of business. Trump again promise to get a wall or barrier for the southern US border calling it a moral obligation. The also said the nation is experiencing economic miracle that can only be stopped by foolish wars, politics or partisan investigations. Former Georgia gubernatorial candidates Abrahams says compassionate is not the same as open borders, and the democratic response to the state of the union Abrahams insisted that the issue should not be at the center of debate over a government spending Bill making lively hoods of our federal workers upon for political games is a disgrace, the shutdown was a stunt engineered by the president of the United States. One that defied every. Tenant of fairness and abandoned not just our people, but our values Abrahams says those values include a shared belief in opportunity through hard, work, service, education and responsibility, regardless of zip code. The founder of an all male far right group linked to violence at protests is suing the southern poverty Law Center for defamation. Have mcginnis filed a suit in an Alabama federal court claiming he's been unfairly labeled as a hate figure. Choi public radio's Kyle Gasset has the story from Montgomery mcginnis traveled to Montgomery to appear in court and to speak publicly about the ways he believes the southern poverty Law Center has defamed him and kept him from earning. A living McGuinness says he's been blocked from posting on social media and can't access crowd funding. Sources these people have gone from defending people to destroying people in labeling the proud boys a hate group, the SP L C cited examples of racist. And misogynistic quotes made by mcginnis and other members on its website McGuiness claims that last year he severed ties with the proud boys due to this negative attention. In a statement, Richard Cohen SPSS's president has called McGuinness. Lawsuit meritless and proof that the center is doing its job for NPR news. I'm Kyle Gasset in Montgomery, Alabama on Asia market shares or higher following gains on Wall Street. You're listening to NPR news. For the first time. Pope Francis acknowledging that some priests and bishops of Prado nuns using some of them as sex slaves. The pope says the Roman Catholic church has been addressing the issue. For awhile Francis says he's committed to doing more to fight the problem. The new president of ABC entertainment has confirmed that for the first time in decades. No single person will host the Academy Awards ceremony this year, NPR's mandalit del Barco explains. The last time the Oscars hosted in nineteen eighty nine the opening featured actor, Rob Lowe and Snow White in a regrettable song and dance number this time ABC entertainment, president Kerry Burke, says the decision to go without a host was made wisely by the show's producers, she promised to keep the February twenty four telecast down to just three hours in December comedian Kevin Hart stepped down as MC after some anti gay slurs. He tweeted between two thousand nine and two thousand eleven began circulating. He refused to apologize for them. Again, Monday Barco, NPR news. A government watchdog says an American taxpayers paid almost fourteen million dollars in two thousand seventeen for President Trump to travel to and from his resort in Florida. The government accountability office says about sixty thousand dollars went Tamar Lago while the rest paid for travel and accommodations secret service expenses bomb-sniffing dogs and other costs. The report also shows the tax payers pay three hundred. Ninety six thousand dollars for protection of Trump's two adult sons and their wives during overseas trips in two thousand seventeen I'm Shay Stevens. NPR news in Washington.

President Trump NPR NPR southern poverty Law Center president Montgomery mcginnis Kyle Gasset Abrahams Shay Stevens Pope Francis McGuinness Bill Washington Montgomery Alabama Congress Kevin Hart United States ABC entertainment Tamar Lago
Dallas Morning News 6/16/20

The Dallas Morning News

04:07 min | 7 months ago

Dallas Morning News 6/16/20

"Good Morning. It's Tuesday June sixteenth I'm Mary. Hildebrandt and here are the top stories from the Dallas Morning News brought to you by quip. Makers of the Quick Electric toothbrush make good habit simple, new brush head floss, refill and toothpaste delivered every three months set start at twenty five dollars. Get Your I feel free at get quip dot com slash morning news. It'll be partly cloudy today with a high near ninety five expect a few clouds tonight with a low of seventy four. Four. Our Top story is Dallas city officials said yesterday that they've secured a vendor to remove the confederate monument in the Pioneer Park Cemetery, but the process will take about two months and cost an estimated three hundred ninety six thousand dollars Jennifer scripts is the city is director of the Office of Arts and culture. She said the sculpture will be disassembled, then stored and archived at Hensley field the Texas. Fifth District Court of Appeals in Dallas on Saturday granted the city's request. Request to remove the sixty five foot obelisk near city, Hall and the Downtown Convention Center a city. Attorney told the court he feared. The sculpture could endanger lives if it gets toppled by protesters, the city's request to remove the confederate war memorial follows weeks of protests over police, violence and racial injustices against black communities. The monument in Pioneer Park features a soldier surrounded by confederate President Jefferson Davis and three generals Robert e Lee stonewall Jackson and Albert Sidney Johnston in other news, Dallas. Dallas County officials reported three hundred five more cases of the coronavirus yesterday. It's the county's sex straight day of at least three hundred new positive tests, the county reported that another resident has died from covid nineteen. The disease caused by the virus Dallas man in his sixties, who did not have underlying health problems? There have been fourteen, thousand, five, hundred thirty seven confirmed cases of the virus in Dallas County about five point five for every one thousand residents and two hundred eighty. Eighty, five county residents have died from it. The county does not release a number of recovery from the illness in related. News Governor Greg Abbott Says Twenty something. Texans are catching corona virus in greater numbers, and he's rebuking them for not taking safety precautions such as wearing masks when they go out. Abbott took to the airwaves yesterday to caution Texans in their twenties that, too. Many of them are taking covid nineteen too lightly on klbj TV's noon newscast in Lubbock. He said A. A lot of people have let down their guard though his administration couldn't provide statistics, Abbott spoke of a record pace of infections among twentysomethings during an appearance on our GV TV in mcallen. Abbott spokesman John Whitman said the governor has heard about higher numbers of infections among people between the ages of twenty and twenty nine from local health departments and county judges around the State Kris van Dusen spokesman for the Texas Department of State. Health Services confirmed that though he said numbers. Numbers aren't available and in sports. Multiple cowboys players recently tested positive for cove in nineteen. That's sources, said yesterday, but the team declined to provide specifics were running back. Ezekiel Elliott publicly lamented a privacy violation after being reported as one of them, people familiar with the situation, said that fewer than five cowboys players have tested positive for covid nineteen. The exact figure could not be determined as the franchise did not share further details. The cowboys said in a statement quote due to. To, federal and local privacy laws, we are unable to provide information regarding the personal health of any of employees. We are following all CDC local and NFL guidelines to keep our facilities safe. Including limiting employees access the Dallas morning news rewards program is proud to bring you virtual events for more information and upcoming events, please. Visit Rewards Dot Dallas News Dot Com for more on these stories and for the latest breaking news visit Dallas. News Dot Com thanks and enjoy your day.

Dallas Dallas County Dallas Morning News Greg Abbott Hildebrandt cowboys covid Quick Electric Hall Abbott District Court of Appeals Lubbock Pioneer Park Cemetery Pioneer Park CDC Downtown Convention Center Albert Sidney Johnston mcallen coronavirus
July 14, 2020

POLITICO Playbook Audio Briefing

04:26 min | 6 months ago

July 14, 2020

"Stay tuned after the show for a message from the National Association of Realtors Good Tuesday morning. I'm Jake Sherman and welcome to your political playbook audio briefing and I'm Anna Palmer does President Donald trump have any sway left. He's intent on holding a convention in Jacksonville Florida yet as the New York Times catalogs today on its front page, a whole bunch of senior members of the Republican Party are saying they have no interest in going. He has suggested that schools must reopen in person in the fall, but some of the nation's largest school districts including Los. Angeles and San Diego are staying closed by the way as the Times points out. This represents an about face for conservatives who have advocated local control for decades. The president has said that the nation. It can't lockdown again yet. It's beginning to happen in California and the president has had one consistent asking code relief negotiations the payroll tax cut Capitol Hill. Republicans had no interest in that. What'd you say, Mr. President, you disagree with me. Anthony FAUCI will appear Georgetown. Venom covid nineteen moderated by MOA leafy and John Monahan today at four. Four PM The d triple C is reserving its second round of advertisements, and it's heavy in Texas the House Dem Campaign Committee has put another two point eight million on the board, eight, hundred, forty, five, grand in Albuquerque, four, hundred, twenty, four, grand in El, Paso, eight, hundred, ninety, six thousand dollars in Houston, four, hundred, twenty thousand dollars in Charleston and two hundred and. And forty seven thousand worth of Spanish ads in Houston, their first Spanish language ad by the cycle the D. Triple C's first round of reservations were eighteen point three million, and included battleground states for the Senate and presidential expect D- trip to bind smaller chunks going forward so they could capitalize them. What they see is advantageous. Climate for Democrats. Here's what's driving today the. The Alabama Senate primary checkout. The robocall trump did for Tommy to reveal. He said he is going to have a cold direct line into my office. We had the jeff sessions thing we gave it a shot I had no idea it could be as bad as it was, but he had no clue. He just let it get away from him. It's really a shame. Or colleagues, Arkan and Alabama can have the seven things to watch Tuesday's big primary day, and the Texas Tribune reports at trump is also making last minute pitches for Tony, Gonzalez and earning Jackson in the congressional runoffs in Texas Vice President, Mike. Pence will be Louisiana today. He'll meet with Governor John Bel Edwards. Just a reminder will be interviewing Austin Mayor Steve Adler. This morning at nine am for latest playbook interview some news. News move on Sei you and the American Federation of Teachers are among the progressive and labor groups that have launched a million dollar weeklong. Add by to push senators corona virus relief funding ahead of their return to DC Sabrina Rodriguez Daniel Lipman have the scooped the US plans to restrict the Mexico and Canada border crosses until late August. Barring nonessential travel as corona virus, cases and deaths continue to spike in the US and. And Mexico Wall Street Journal ports that Corona virus spending is pushing the US budget deficit to three trillion dollars in the twelve months through June as stimulus, spending increased and tax revenue plunged, and the coronavirus continues to rage. The Miami Herald is reporting that Florida governor. Rhonda Santa's is calling for faster. Khalid Testing New York Times reports five point. Four million Americans have, lost. Health Insurance Matthew Choi has the latest on Roger Stone's. Stone's interview with Sean Hannity last night. Where he cast the justice system on fair von trouble participating in a virtual roundtable, Tim Cook and Ginnie Rometty to discuss a new ad campaign for the Ad Council. Find something new. The campaigner has alternate pathways to professional success. Cal Cheney reports that the house is quickly looking to revive to legal effort to get trump's financial records, and here's what's on tap for the president. Today The president will meet with Secretary of State Mike Pompeo at three PM in the oval. Subscribe to play book at Politico Dot com slash playbook. The National Association of Realtors one point. Four million members are proud to follow a code of ethics that sets a higher standard for fairness and housing than any federal law backed by a culture of accountability. It extends to their work on Capitol Hill where they advocate for meaningful change.

President Donald trump Mr. President New York Times Tommy National Association of Realto US Mike Pompeo Texas president Florida Alabama Senate Jake Sherman Anthony FAUCI Vice President Senate Angeles Sean Hannity John Monahan Houston
How does someone get scammed into buying $160,000 in gift cards?

Marketplace Morning Report with David Brancaccio

08:50 min | 1 year ago

How does someone get scammed into buying $160,000 in gift cards?

"This marketplace podcast is brought to you by the university of Florida Warrington college of business transform your future with an MBA from one of America's top ten universities. Learn more at Warrington dot ufl dot EDU slash NBA. And by the Michigan economic Development Corporation, John Rimini founder and CEO at airspace. Experienced technology says in Michigan revolution is in the air. Find out what planet is doing to help businesses make that possible at planet platinum dot com. That's P. L. A. N E T, M dot com. Bottom line on aging and financial vulnerability. The tech support and gift cards scan that unfolded over two weeks. I'm David Brancaccio in New York. I want to introduce you to a seventy nine year old nurse who fell into a financial nightmare were adding losses on a financial statement, plus till is twenty six plus two is twenty eight plus three is thirty one plus one is thirty two Judy fern as you can hear does math in her head just fine. Forty three forty five. Forty five thousand dollars of gift cards Judy Judy Judy. This is only a one bang. It's the Leo web Bank on one credit card. It gets worse for Judy who, as she approaches eighty is still working as a substitute school, nurse her small house, just in from the jersey shore is tidy. She goes to Pilates twice a week yet scammers nearly bled her dry. I just don't think I was thinking was like a robot this week on marketplace. We're looking into evidence that as we get older, we become more vulnerable to financial exploitation by strangers or even by family. The danger is obvious in cases of dementia, but doctors are studying older people who were on the ball a-ok, but who may be at special risk. There's brain research about this as we'll learn doctors and advocates say now's the time for a national conversation about protecting the money of older, people people like Judy home alone over a holiday in late twenty seventeen her husband had died years earlier. She'd lost her daughter to cancer thanksgiving weekend. On. I was just hanging around the house answering the phone like a full. It's some company calling saying, there's a computer problem virus firewall, blah, blah and Judy. Let's the caller take control of her system that year. Microsoft, had compiled one hundred fifty three thousand complaints about tech support scams from all over the world. One in seven lost money. Judy says using her screen the guy shows her what looks like one of her Bank accounts that should have had about thirty thousand dollars in it. She freaked when it looked drained down to nothing. He wanted to show me it was zero zero zero and you can make it up. If you do it, I say, there's an intricate way to create that allusion but I won't go into it. Here point is Judy was led to believe if she gave the caller more money. She'd get all of it back. She said to him. You happy that you've totally wrecked my life. And what would you say? Oh, I didn't wreck your life. You just have to do it. I tell you, and you'll get your money back ten thousand dollars out of her will. Fargo then a forty five thousand dollar transfer to some Bank in Nepal. I've seen the paperwork Katmandu and then the scratch off department store gift cards, two dozen trips to WalMart and a target for cards worth at least one thousand dollars each. I was driving like this. I was driving clenching the wheel on so mad. And I couldn't figure out as I thought about it for mad at him or mad at me. No kidding. I mean, why am I at here on this freakin road? Again, driving all the way out to WalMart added the receipts. One hundred sixty six thousand dollars in gift cards. But why did you to keep at it for two full weeks? Something called decision theory could be part of this the way people calculate, what it's worth to put more money in, if there's a chance of getting money back. There is fear. Judy says there were threats against her family. Now, maybe this could happen at any age but it's possible there's something else scam victims like Jew. Duty are of special interest to neuro the most frustrating people in my science, and in my clinical practice, or people who test up and down neuro-psychological normal. I mean, they've had the million dollar neurologic workup and yet they still give away the farm in ways that they would not have when they were younger, Mark lacks is a nationally known geriatrician at New York's Weill Cornell Medical center. He and his colleagues have put a label on it age associated financial vulnerability. The eighty year olds have slower finishing times in a New York City marathon than the twenty year olds and that's just a of physiology in physics while experts believe wisdom, and life experience, can help counteract age related changes. There's neuro science and psychological, data showing normal people's ability to detect and face down a scammer can decline, and it's not just the brain mardi d'alema's a research scholar at the Stanford center on longevity. It also. Involves all of these other social, and environmental factors lake social isolation, lake, cultural factors, and societal factors like older. Adults having more wealth compared to younger generations with an aging population. This is an elder Justice issue, a personal finance issue, and a public policy issue. I just must insert here that nobody could be mad at me than knee. I put, judy's total loss in this mess at one hundred ninety six thousand dollars. Tomorrow. What's this brain research, associating financial vulnerability in aging, marketplace dot org has suggestions for help, and listen for our one hour special brains and losses in the coming days, on many public radio stations nationwide. This marketplace podcast is brought to you by Kronos. Kronos knows that hiring and retaining a modern, workforce of salaried hourly full and part-time workers can be challenging, especially in today's competitive job market. That's why Kronos, puts HR payroll talent and time in one place. So HR professionals supporting a blended workforce have all the tools they need to engage and motivate their people every step of the way. Learn more at Kronos dot com slash HR swagger. Cronos workforce innovation that works Nordstrom reveals quarterly results tomorrow. One thing we'll be watching for how an experiment called Nordstrom local is going service, only Nordstrom boutiques. Here's marketplace's we're not a sago Norstrom local cells. No clothes, no shoes. No excess Sary's instead the shop offers services like tailoring walk in manicures in store stylus, and curbside pickup for online orders. Business professor Teresa Williams at Indiana University says Norstrom is selling these services for less. Than luxury retailers and doing it in smaller stores, that are cheaper to operate looking at the cost side, smaller footprint is definitely more profitable than you know, two hundred thousand square foot mall type of base Nordstrom local saps are about three thousand square feet. The company says it's L A stores are attracting younger shoppers, and it's online order pickup service has proved popular cerita KC with forester. Research says these neighborhood Nordstrom stores, the company is able to start moving away from trouble malls. It's very different from a mall environment, and that's really what it is able to get is new foot traffic, Norstrom will open its Nordstrom local stores in the upper east side and west village, neighborhoods, this fall. I'm Renata sago for marketplace. New york. Let's do the numbers. Crude oil is up three tenths of a percent amid rising US Iran military tensions in an OPEC hint today to keep production limits in place through year end SMP futures are up half a percent. The NASDAQ future is down one point one percent. Now she the me futures down half a percent. I'm David Brancaccio. Marketplace morning report from APM American public media. This marketplace podcast is brought to you by the United States postal service every day, we talk about how innovative companies are reinventing the way business happens. But none of that's possible without the right people to enable it people who get packages to over one hundred and fifty million delivery, points, affordably, and on time with the latest technology and expertise, so who can help you deliver the future of commerce, the United States, postal service, see why they deliver more ecommerce packages to homes than anyone in the country at USPS dot com slash future.

Judy Judy Judy Nordstrom New York David Brancaccio WalMart Judy fern Kronos Kronos dot university of Florida Warringt founder and CEO United States Michigan Michigan economic Development P. L. America Microsoft Renata sago John Rimini Leo web Bank
615 - 6 Retirement Account Changes for 2020 You Should Know

Money Girl's Quick and Dirty Tips for a Richer Life

23:04 min | 1 year ago

615 - 6 Retirement Account Changes for 2020 You Should Know

"Hello friends and welcome back to another weekly episode of the money girl podcast. I'm Laura Adams if your new show I am so glad to have you here. I'm a personal finance author speaker and consumer advocate. And if you're a longtime listener are thank you very much for being a part of the money girl community I've been writing and hosting this show since two thousand eight and I love connecting with you all and hopefully moving you a little a bit closer to your financial goals if you're ready for more knowledge resources and motivation to manage your money the best way possible and create a richer life you are. You're in the right place my friend. I try to make each show like a mini training episode and we cover a wide variety of topics that could be credit dead. Investing real estate business taxes insurance money management strategies and lots more so today's topic is about retirement. And I WANNA say even if you don't have a retirement account right now be sure to stay with me understanding the rules and the upcoming changes is is very important. And you know if you don't have a retirement account right now. I'm definitely going to encourage you to get one and of course you might have one down the road and so do these rules will definitely apply to you. So why are we getting. Some retirement changes well every year the United States Treasury Treasury evaluate. What's going on in the economy? They look at what's happening with the cost of living in the inflation rate and based on that data the IRS is required to make a variety of adjustments in the tax law and fortunately many of the changes can help savers squirrel away a lot. More money for retirement and the changes that I'm going to review in this show or certainly not the only changes that are happening. But what I'm going to do is highlight six. Six of the upcoming retirement account changes that I think will impact the most people in two thousand twenty. So what you WANNA do is get a head start right right now and begin making some preparations and some plans to cash in on these adjustments that are going to be happening next year. And as always you'll find the notes for this and every show with all of the links to resources that I mentioned plus the full archive of podcasts. They're all in the money. Girl Section at quick and and dirty tips dot com this episode number six hundred fifteen called six retirement account changes twenty twenty. You should know it's supported. Did by Holiday Inn club vacations the perfect spot for a family vacation or group retreat. There are twenty three luxurious Holiday Inn club vacation and resorts all across the United States. They feature spacious villas with separate bedrooms fully equipped kitchens living rooms and private patios and balconies and select resorts offer premium signature collection villas with upgraded. Amenities you'll find championship. Golf sparkling pools delicious restaurants astronauts and more for more information visit H C v DOT vacations slash money girl. That's H C v DOT vacations slash money girl all right. Let's get into the retirement account changes the first one is higher contribution limits for workplace workplace plans so starting in twenty twenty if your employer offers a workplace retirement plan. Maybe it's a 401K or a four zero three b the base amount that you can contribute. It's going up. It's going to increase from nineteen thousand dollars in twenty nineteen to nineteen thousand five five hundred starting in twenty twenty and the same adjustment applies to most four fifty seven plans as well as the government's thrift thrift savings plan or T. S. p.. And you may know that you can have both a traditional and an after-tax Roth retirement account at work in the same year as long as your total contributions don't exceed the annual limit. So you can have two accounts as long as the total contribution does not exceed nineteen thousand five hundred dollars. You are good so what I want you to do is make a goal to Max out your retirement a plan and you can update your contribution percentage or even the dollar amount that you pay per pay period. You can make changes to your plan at any time during the year. You don't have to wait for open enrollment which is probably going on right now in most companies. And you don't have to wait until the new year. In most cases you can set up higher contribution rate to begin at a certain time such as on January one. So that's a great way to make sure that you are getting taking advantage manage of that increase rate as soon as you can now know that if your company offers retirement matching as a perk. You're actually allowed. How to exceed the base annual limit the overall contribution limit if you combine both the employee and the employer contributions and that is also going up? It's going to increase by one thousand dollars and what it is is. It's either a one hundred percent of your compensation or fifty seven thousand dollars. Colors whichever is less. So that's the limit for both you and your employer again. You can only put in nineteen five the balance of that could be put in by your employer if you have a very generous employer all right. The second change that we need to cover is higher catch up limits for workplace these plans so what catch up limits are are a benefit that the irs gives older workers by allowing them to save a little bit more more money to retirement accounts than they do allow for younger folks so these catch up. Contributions apply when you've reached age fifty so in the new the year catch up contributions increase from six thousand dollars to six thousand five hundred for most types of workplace. Retirement plans. The answer and this is a pretty big deal because it's the first time that catch up. Contributions have increased in several years. So if you're over age fifty starting in two thousand twenty year going to be allowed to contribute nineteen thousand five hundred plus six thousand five hundred for a total base limit limit. Twenty six thousand dollars to your retirement account at work and this applies if you'll be fifty before the end of twenty twenty so even if your birthday is on December thirty first of two thousand twenty you get to take advantage of this ketchup contribution benefit. So don't miss the chance to save an additional thousand dollars ars for retirement and if your company offers matching the overall contribution limit for those over fifty will increase as well so it's going to be either one hundred percent of your compensation or sixty three thousand five hundred dollars whichever is less so again. That's the total that you and your your employer can put in. If you're over age fifty. The third change to know is that higher contribution limits are happening. I self employed plans. So maybe you're listening to me and you're saying Laura I don't have a retirement plan at work you know. I don't have a government job robber I don't work for a big company that offers a 401k. Well don't worry. The IRS has got you covered to their allowing self employed people people to have an increase contribution limit as well so the amount you can say in a SEP IRA or a solo. 401k those are two types of plants handset are available. If you're self employed those are going up so they're going up from fifty six thousand dollars in two thousand nineteen to fifty seven thousand dollars in two thousand nine hundred twenty eight. And I've done a lot of other podcasts about these self employment plans so I'M NOT GONNA go into a lot of detail about those here but just look for those in the archive and you'll find them all right. The fourth change that you need to know about is higher. Income limits for traditional I. R. You're a deductions now unfortunately neither the base contribution limit nor the catchup limit has changed or will change for a traditional additional. Ira In twenty twenty. It's going to remain six thousand dollars and the catch up. Limit will remain one thousand dollars and we we did see an increase in the IRA limits this year in two thousand nineteen so that may be why we're not seeing an increase for twenty twenty however there will be a different type of change range happening for a traditional IRA and this is going to be the income limit so not the contribution limits but the income limits for claiming a tax deduction on your traditional IRA contributions. These are going to go up slightly now. This is a little complicated but this rule only the applies. If you or your spouse have a retirement plan at work and you also contribute to a traditional IRA in the same year problem. mm-hmm is the IRS doesn't allow too much of a good tax thing so they limit the amount of traditional IRA deductions that you can claim when you or a spouse also have a workplace retirement plan and I want you to note that just because of this restriction doesn't mean you can't have an IRA you can can always make IRA contributions when you or a spouse also have a workplace plan you just may not get to deduct all of those contributions so summer for all of those IRA. Contributions may be non-deductible when you're also contributing to a workplace plan or your spouse is also contributing to a workplace plan am the allowable deductions for twenty twenty or going to depend on. You're modified adjusted gross income and your tax filing status as follows. So this this gets a little bit detailed here but you can also come back to this podcast to listen to it again. If a lot of these numbers kind of fly over your head so let me review them quickly clearly. So if you're single if you filed taxes a single person you're going to get a full deduction for those traditional. IRA contributions when your income is below. Oh sixty five thousand dollars. That's kind of the big thing that you wanna remember. There is a phase out where you get to deduct a little bit less if your income is from sixty five to seventy five live and when you earn more than seventy five thousand dollars you don't get any IRA deductions when you also have a workplace plan and by by the way those limits are up a thousand dollars from two thousand nineteen now. If you're married filing jointly the rules are different. You're going to get a full deduction on those IRA contributions bution when your household income is below one hundred four thousand and if you earn above hundred twenty four thousand dollars as a couple apple. That's when your traditional IRA. Contributions are not deductible when you're also contributing to a plan at work again. Those limits are also a thousand in dollars and if you file taxes jointly. Let's say that you don't have a workplace retirement plan but your spouse does. There's actually a different rule just to complicate things even more in that case. You get a full deduction when your household income is below one hundred ninety six thousand dollars you get a little bit higher income limit there and if you earn over two hundred six thousand dollars as a couple that's when you can no longer deduct your IRA contributions when your spouse is also contributing to a workplace retirement plan and these limits are up three thousand dollars from twenty nineteen and if you're married but you filed taxes axes separately. There are very different rules. And you've actually got more restrictions in that case and there's actually no change for twenty twenty so for married couples who file separately shortly. You get a reduced deduction if your income is up to ten thousand dollars and know deduction when you earn more than ten thousand dollars so basically this is something that typically Klay doesn't apply when you're married filing separately now just to clarify if neither you nor a spouse are covered by a retirement plan at work. What I'm talking about here just doesn't even apply to you and you're going to get a full tax deduction for making traditional IRA contributions as long as you're younger than age? Seventy and a half and you've got some amount of earned income you're eligible to contribute to a traditional. Ira All right. Let's take a short break from all those numbers to thank the the sponsors who make money girl possible and keep it going for listeners. Week after week support for money girl comes from capital one with the spark cashcard from capital. One you earn unlimited two percent cashback on all of your business purchases think about that unlimited two percent cashback on everything you oh by for your business that cashback can add up to thousands of dollars and you can use it to reinvest in your business so you can continue growing take it from Christina stem dumbbell owner of farm girl flowers and San Francisco. Her Spar Card earned one hundred. Fifteen thousand dollars cashback last year and she use is that money to invest in digital marketing. Imagine what unlimited two percent cashback could do for your business see capital one dot com for details capital one. And what's in your wallet. I also WANNA thank sleepnumber for being a new show sponsor during the holiday season. We're all really busy. That can make it harder to get the sleep you need but the new sleep number. Three sixty smart bed can help you sleep so well it will change your life. It's it's the smartest choice for better sleep and it's especially great for couples because sleep number beds allow you to adjust each side to your ideal firmness comfort and support the sleep number three sixty smart beds senses your movements and automatically adjust to keep you sleeping comfortably through the night that is so cool and the sleep. IQ technology technology gives you insights on. How your sleeping to improve your sleep experienced the smart effortless comfort of the sleep number three sixty smart bed during the ultimate ultimate sleep number event? Save an incredible fifty percent off on the sleep number three sixty limited edition smart bed. This offer is good for a limited limited time. Only at a sleep number store or at sleepnumber dot com slash money girl. You'll only find sleep number at one of their six hundred hundred stores. Nationwide find one near you at sleepnumber dot com slash. Money girl all right. We're back on the retirement account. Changes changes that you can expect for twenty twenty and the fifth change to know about is higher income limits for Roth. IRA contributions so. We talked about traditional additional. IRA's now we'll switch gears and talk about Roth. IRA's just like with traditional IRA's there will not be an increase in how much you can and contribute delimits will remain six thousand dollars for base contributions and thousand for Ketchups when you're over age fifty however the income on limits for being eligible to contribute to a roth. IRA will be going up next year unlike traditional IRA with a Roth IRA. They are income. Thresholds that you cannot accede to qualify to make contributions so what that means is if you earn more than the limit for your tax filing status in a given year you are prohibited from saving any money in a roth. IRA for that year. So I'm going to go over the two thousand nine hundred twenty limits so again these apply to you're modified adjusted gross income and we'll go through each tax filing status so oh singles. If you're single you can make full contributions to a roth. IRA when your income is less than one hundred twenty four thousand dollars. There's there's a phase out range that gives you reduce contributions up to one hundred and thirty nine thousand and then when you earn more than that you are ineligible eligible so you cannot make any contributions to a roth. IRA when you earn more than one hundred thirty nine thousand dollars and that's up two thousand dollars from twenty nineteen if you are married and you file jointly you can make full contributions to a Roth IRA. When your household income is less us than one hundred and ninety six thousand dollars you've got to phase out range from one ninety-six up to two hundred six thousand and you cannot contribute when you earn more more than two hundred six thousand dollars as a couple and that is also up from twenty nineteen? It's up three thousand dollars from twenty nineteen and if your married filing separately there are more restrictions here and there's actually no change for next year you can only make a partial contributions to a roth. IRA when your income is less than ten ten thousand dollars and you are not eligible to contribute to a Roth IRA when you earn more than ten thousand dollars and you're married and you file taxes separately all right. Our final change to know about is number six higher contribution limits for health savings accounts or. HSA's now you might be thinking will are what is. HSA have to do with retirement. It may not seem like a noteworthy issue for a podcast about retirement accounts. Well there is an important in connection here that you need to understand once you reach age sixty five you can use an Hsa just like a traditional IRA in retirement with no penalty. So what happens is you can take withdrawals for any purpose with only income tax due on those distributions nations so for twenty twenty increased. HSA contribution limits are as follows if you're an individual. Let's say you've just got a health insurance policy on yourself off. You can save up to three thousand five hundred fifty dollars which is up slightly from one thousand nine hundred fifty dollars and if you have a family plan. So let's I'd say you've got insurance and you've got a spouse on it maybe dependence. That's a family plan. You can save up to seven thousand one hundred dollars to an HSA essay in. That's up one hundred dollars from twenty nineteen so this is really good news for anyone with a high deductible. HSA eligible health plan. You've got to have that. HSA eligible health plan in place. I in order to have an HSA and make those contributions and using an Hsa to pay for qualified qualified. Healthcare expenses is just an incredibly smart way to cut your taxes. Prepare for any unexpected medical bills and also sock away some extra extra money for retirement. As I mentioned if you still have money in the account when you turn sixty five you can use it like a regular retirement account. You just have to pay attacks on your withdrawals but you're not gonNA have any penalties for using money for non healthcare expenses. HSA's are so great because if you you use them correctly by only spending the money on qualified medical expenses of course that's before you turn sixty five. If you use it correctly you'll never go a penny tax on the money that you put in the account or any investment growth in the account. Plus you don't even need earned income to qualify to make contributions to an HSA. You just need to have a qualified health plan in place in order to have an HSA those benefits top. What you could get from any type of retirement account so I definitely want to encourage you to use? HSA If you are eligible for it now now again. This is not a complete list of all. The retirement related tax changes. That are coming in twenty twenty. But I think they're the ones that will affect most of you and if you enjoyed this topic I would love for you to check out the save space. podcast I've mentioned it before I've been a guest throughout the season there and an episode number five. I talk about retirement chairman planning tips with Co host. Kelly Sutton so. I hope these tips will help you prepare for next year. And maybe encourage you to increase your your savings rate if you haven't done that already and you're thinking well Laura I just can't even afford to make retirement account contributions because I'm dealing with debt. I would really love for you to check out one of my affordable online classes. You might be interested in the one that's called get out of debt fast proven plan interstate debt free forever. This is just a crash course on getting on the road to more success. The bottom line with this courses that you're gonNA to come away with a very clear debt reduction plan. You'll get a lot of good strategies to eliminate debt faster even if you don't have extra money you'll get tips for dealing with collectors techniques to restructure your financial life and really pursue your dreams and I hope one of those dreams having plenty of money to spend in retirement men. I love online learning because you get lifetime access to the content and you can learn at your own pace and offering money girl listeners. A fifty percent discount count on all of my courses. And if you WANNA learn more you can text me text the phrase debt course. DB T. C. O. U. R. S. C. With no space us to the number three three four four or you can get more information at Laura de Atoms Dot Com. I hope to see you in that class. If you've got money question in or an idea for a future show topic I would love to hear it. Call Our voicemail line call three zero two three six four zero three zero eight to leave. Give your message. Money girl is produced by the audio wizard. Steve Ricky Berg with editorial support from Karen Hertzberg. If you've been enjoying the podcast please take a moment to rate and review it on Apple. podcast it's really easy to do you. Just swipe up on the cover art and you'll get the opportunity to input either a rating or we're also input and actual review. It's a really easy way to show your support and also will help new listeners. Find us you might also like the backlist episodes roads and all of the show notes that are always available at quick and dirty tips dot com. That's all for now. I talk to you next week until then here's to living a richer or life.

IRA Ira HSA IRS Laura Adams United States self employed twenty twenty Roth Kelly Sutton apple Klay T. C. O. U. R. S. C.
Can I Buy a Porsche? (Hour 3)

The Dave Ramsey Show

40:33 min | 11 months ago

Can I Buy a Porsche? (Hour 3)

"Live from the headquarters of Ramsey solutions broadcasting from the dollar car rental studios. It's the Dave Ramsey show where that is dumb is king in Adolf on mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey your host. Thank you for joining US Open. Phones triple eight eight two five five two two five. That's triple eight eight two five five two two five. Caleb starts off this hour in Oregon. Hi Caleb welcome to the Dave Ramsey show up on my questions you his last Thursday. Somebody broke into our garage and stole a bunch of stuff and it turns out that it was the previous tenant and the complex in switch to locks My question is if this happened to you. Or what what kind of response do you think The complex she'd have for this. I mean we lost thousands of dollars and stuff so I'm has been recovered in police evidence and you can't get it back There's like our grandfathers tools have not been recovered while. And how do you know that the locks were not that this guy used a key It so it's the maintenance man adults on that they. They used to lease the ten or the garage and mandatory. They switch the locks manager. Told you all right and did you have insurance. We do have rangers insurance. I don't know how it works because the stuff has been recovered but the police could take you know tell. The case was settled before we can get anything back Okay well you talk to your insurance company about filing a claim for sure Well I I think I would sit down with the apartment manager and ask them How much of this? They were planning to cover. Since this is their fault we bought like three hundred dollars in security cameras. Syncing and In Our deductibles. Five hundred on the Renter's insurance so for sure it'd be eight hundred dollars out of pocket. Yeah but I mean I think they ought to start writing checks. This is just straight up negligence on their part. I think if you were to contact an attorney the attorney would probably tell you have an incredible case for for for a bunch of recovery. And probably some punitive. I mean that's just absurd. It was pretty pretty frustrating. The last thing pregnant wife needs to stress over his sons. Come back into our place and kicking stuff. Yeah so are the locks. The locker changed now right other teams now on the you know the people that we we actually caught the guy on cameras dealing packages from someone else the next night. So it's just a lot of fun right so the guys he's obviously in custody. I assume they haven't got him yet. He's been missing in action out. They'll get him because he's dumber than Iraq. Okay well yeah I think you sit down with department manager and And or their superior in just say Look I. I don't really want to sit down with an attorney but if you guys don't start getting a really generous over this really fast. I'm GonNa have to see what my legal rights are because this is absolutely asinine. You are so liable that you really ought to be just writing checks to keep me happy right now and I thought about it but I mean if I were on the other side of that if the landlord I would have already made you an offer her because this is their fault. I mean they screwed this up. Okay the number one. We got a maintenance man with a with a son who's a criminal and he and we didn't change the locks and he's a criminal has the key now. These are known things they know this kid. I know the kid had a key and they're so stinking lazy that they didn't bother to change the locks. That's just incompetence. Now you can be nicer than that. But that's where this stands so yeah. I think the first thing I'd always do is confront the person that you're dealing with You know and just say listen. Let's try to work this out Because you're just obviously very liable as you can imagine we are really really really angry about this But on top of that we're out a bunch of money and it's all your fault and so you guys need to you need to do you need to make us whole right here and so. I'm expecting you to cut me a check today for five thousand dollars to cover my trouble stuff that's gone and if you don't WanNa be you guys. Don't want to begin a discussion about that right now. Then that's going to force me to seek legal counsel and I don't really WanNa do that but I'm very angry I'm This is ridiculous and You know my yell at. You were cuss at you. You're just the manager but this is this is not okay and it's not gonNa go away without costing you money because you're liable on this and then just see what they say or you know. I'm you know they offer you a couple of grand. Take it and move on and go on your way because that's probably about all you're GonNa get after you fight about this but I I would You know if I were the landlord. I wouldn't give you ten grand okay but I would take care of your stuff that got stolen and I'd make sure that you know that the locker change and the cameras are done. Because it's my fault you know and sometimes we do stuff. That's our fault we don't mean for it to be but some people workforce aren't competent. Sometimes it's just your fault when that happens and you have to take care of it so yeah I would. I would be pretty aggressive about it. I'm not going to be mean to somebody not yelling and cussing stomping my foot and don't even have to be unkind but you do need to be very very very direct and And if they don't react to that and they say no we're not liable and say well I guess we'll have to find out and I would contact an attorney for some legal advice at that point. Tracy is with US IN MINNESOTA. Hi Tracy how are you dave? I'm well thanks for taking my call. Lots of a question about my mother in Law's finances you anticipated showed me long-term care in the next five or ten years. She doesn't have any long term care insurance and doesn't qualify due to the medical problem. She has no got lives on social security and pension. She'll be seventy this summer. She has forty thousand dollars in the bank. And I read places where people start taking that money And putting it in a separate account outside of her name So that when it comes to meeting long term care it looks like she doesn't have any money and would therefore qualify for the Medicaid services. I don't WanNa be a weasel about it. But at the same time if she were a qualify for long term care now should be put in private care and then after a couple of months or forty thousand dollars would be gone so we WANNA use wisdom. But I don't WanNa be own our own. The home she's living is she did not. She lives in fifty five plus community based on her income. I'll say okay. And and you all are not in like super great financial conditions yourself. We have about fifteen thousand last Baby step two You're not multimillionaire that you can start writing. Long-term CARE checks okay. We'll maybe but but for today you're not yeah okay What you can't do what you're talking about. A certain amount of cash is protected under the act for Medicaid And it changes each year. I don't know what it is this year. But any monies or assets transfer out of someone's name in order to qualify for Medicaid falsely is called Welfare fraud and they can look back to five years in undo it and they can criminally prosecute. So it's not just weasel it's criminal and so but there's a certain amount of cash she can keep in her name. You know one of the absolute best investments. You can make yourself if you're waking up in the morning dragging. You're not doing anyone a favor get the best sleep. You've had on equality affordable mattress from Tuft and needle. They've got a mattress to fit your needs and they start as low as three hundred ninety nine dollars. I could tell you all about the specs but I really like these guys. They are incredible company and they will take care of you. Get your new mattress with free shipping and a one hundred nights risk-free trial at tsn DOT com. That's T- in Dot Com. Every risky job begs the question. Should I use an expert or can I do this myself now? Sometimes it's really obvious you don't pull your teeth right and if you know nothing about cars you take your car to a mechanic. You don't diy stuff right but sometimes it's not so clear. Are Your taxes simple? We've so you can get some good software among your own right. Or if they're not so simple you should hire a pro because they probably will make you more than they cost you now. There's definitely some scenarios that require tax pro like if you own a small business got a lot of different sources of income. Then don't risk doing them yourself. Get an expert but sometimes it's close. So here's a way to find out takes about five minutes go to Daveramsey DOT com slash tax quiz and take our quick assessment. Daveramsey dot com slash tax quiz. No reason to pay a bunch of money to have someone do taxes. That are simple minority. Pay a bunch of money that you didn't need to pay because your taxes were too complicated and you try to do it yourself. I don't do my own taxes. I can promise you that Sean is with us in Georgia. I Sean welcome to the Dave Ramsey. Show thanks for taking my call. Sure what's up? Hey My wife and I are in baby steps three. My wife recently left a federal government job and she contributed six hundred dollars to retirement annuity. that was a requirement of of work in there She can't take distributions until she sixty two but we can apply her to Be refunded her contributions and I guess my question is should me when we applied a refunded? Should we have it added to the Emergency Fund or should we roll it into a rock? Ira You can't roll it unless they will allow you to do a lump sum and that's a lump sum distribution is different than a refund. Now they do have a option to roll it to roll it over to To An IRA that would keep you from having to pay taxes on it if you take it out. You're going to end up with taxes and penalties it post tax It's not a it's not just regular. 401k EX POST TAX No taxes or penalties correct. I'll take it out and use it for your emergency fund wonderful. Yeah just wherever you are on the baby steps and sounds like that's where you are right. Yes it is okay. Yeah your baby step three finishing your emergency fund any money and get your hands on without taxes and penalties. I would get my hands on and do that with it absolutely I do that. Hey thanks for the call. Steve is with us. And Steve is in California. Hi Steve. How'RE YOU Get Afternoon Days Some situation is that as my wife and I are both in our upper thirties. to Kids aged seven five right now Terms of life insurance we only have what we have through our employers and I'm looking to expand and get into an additional life insurance policy Situation is that my father in law is an insurance. Salesperson is really pushing us towards a life variable annuity products saying that. He feels that for our situation. Term doesn't really make sense. It's just kind of throwing money away when you can get a return when you have a whole life policy and just kind of wanted to get your opinion on how to handle this well The answer to the question is very simple but the relationship is not exactly. Yeah and we've had a situation in the past when we had bought our house and got homeowners insurance and had just bought it on mine and he wasn't exactly happy that we didn't at least go through him to try to get that we don't have a we have. Our relationship is fine otherwise it's just kind of bad situation of not going through. Him would would not be very comfortable well. The problem is that he sells crap. That's the problem What he's recommending horrible and Is the one of the worst financial products out there and so I would never do that. the answer. The question is would buy inexpensive term insurance from a broker that is the best price on the market. Like zander insurance and I would do my investing anywhere except inside of a stupid whole life policy. Because here's the problem. The whole life policy of course is about ten times fifteen times more expensive and then term insurance and the difference all goes into a savings account call cash value whether it's universal live our whole life or index universal life or whatever it goes into this cash value and the cash value has a very poor rate of return. It doesn't build it all for the first several years. Meaning they keep a hundred percent of your savings as fees and then when it does finally grow it grows at a horrible right of return but the worst part is when you die you only get the insurance. They keep your savings that you paid extra to create. And so if you've got a hundred thousand dollar whole life policy with a twenty thousand dollar cash value and you die. You've paid a lot of money. An extra above the cost of Insurance to create that twenty thousand dollars savings and when you die your wife gets one hundred grand. Keep the twenty traditionalist in so it's a horrible product. But that's you know you're GONNA have you're GonNa have all you can't just say that to your father in law. I would say party. It makes me wonder. Yeah it's just what he's he's been trained to sell that. Oh of course of he's been trying to sell it and there's only two kinds of whole life insurance just wants that don't understand how bad it is and ones that are the understand about? It isn't salad anyway. And I suspect he just blee respect he just drank the life insurance company kool-aid and never have sat down and looked at it and really understood. How bad a product that is. Here's the thing. No one in the entire financial world cells that crap except agents that sell that crap financial planners don't brokers don't know one in in no guru like me that's on the air. No one tells you to buy that. There's not you can't find a single person except people that sell it the believe in. That's how bad it is. It's not like it's up for debate. It's just bad so now having said all that. How do you handle your father-in-law with a boundaries issue because you've just got to be kind and gentle and not call him a crook right and yet somehow let him know? You're not going to be buying that that you've done research and you know you don't you. Don't go along with that You know my father-in-law who is one of the sweetest. Most wonderful man on the planet often votes wrong. But we get along anyway. You know what I'm saying. He thinks I vote wrong. But he's not GonNa talk me into voting on that side and I'm not GonNa talk him voting on the other side so we just love each other anyway and maybe you can draw that line with this and just say you know what I love you. You're my father-in-law and I want to respect you and so forth but But I am not comfortable with this product line and it's not the direction we're going to go and you're just GonNa have to be okay with that just like if he were a Republican and you said I'm going to vote Democrat. You're just going to be okay with that. I love you but we just disagree on this. You know. And if he can't then he has boundary issues right. But YOU'RE NOT GONNA get in a debate with him because you can't win the debate. Here's why if he wins the debate. You just have to buy some bad insurance. If you win the debate. He has to quit his job. Or be a crook and he's not. You don't WanNa win that debate. Let him come to those conclusions by himself so I would just say be kind and firm smile and make sure you and your wife are on the same page because her dad right and just go you know. I don't really want to do this in a way. That didn't hurt your feelings because I love you but I just don't agree with you on this product line and I'm not GonNa go that way and I hope you can understand that and hope you can my decision just like I respect your decision to continue to sell stuff that I don't agree with and we'll just have to be okay with that and you know I I still love. You still love me. But if he wants to It's just. It's probably one of the most difficult relational positions you being right where you are right now. If it was your brother you just tell them to jump in the creek you know. But you're father-in-law's tough right. That's hard so it's a very difficult thing to walk along and be kind and yet firm and draw clear boundaries. But no. I wouldn't buy that crap not a chance out by not under any circumstances it's garbage. This is the Dave Ramsey show. Christians have an affordable incredible way to meet their overwhelming healthcare costs it's Christian healthcare ministries. The original health cost sharing ministry a better business. Bureau accredited organization C. H. M. members share to pay each other's medical bills. It's not insurance. It's Christians financially and spiritually supporting each other. It's what she has done for over thirty five years learn more at C. H. Ministries Dot. Org that's the H. Ministries Dot Org Christian healthcare ministries is a proud sponsor of Dave Ramsey. Live Events Oh no thank you for joining US America. This is the Dave Ramsey show. Kayla is whether in Tennessee. Hi Kayla welcome to the show arms. Because what's up. Hey quick question so tomorrow my husband and I are paying off our last. That long payment now never paid off a student before. So we're make sure and doing this right Should we call the company and do are last payment and have make sure they're closing our account or should we just go ahead and do the online payment and become a bit online? Payment should be okay. That should wrap it up and then you could follow up the next week and make sure the account is closed up but it should show it paid in full Senate should do the submit button documentation or anything from his. Shouldn't need in. You know if you WANNA hit a screen shot or something and just save your screen. That shows zero. That wouldn't be a bad idea. I have not heard of student loans growing back after they were paid off. I have not heard anything like that. So congratulations how much have you paid off total total? Oh Gosh this is well. Our student loan thirty nine thousand dollars. We paid off our cars nine thousand dollars and we've got eight thousand dollars farmhouse. I'm actually paying off before I got married. So you're back on the house after I on. You're doing great well done very very well done. Thomas is with us in Alabama. Hi Thomas how are you good service that pleasure to speak with you you to what's up I I move every two years Oh my job and I had this mentality that mortgage that was a good idea About a year ago me and my wife got introduced to your plan and we went through the steps They went through the first step and I paid all my dad off in the second. Step the third step. We built up our emergency fund but I still have about three hundred thousand dollars in mortgage debt and I don't live in any of the homes actually rent now to try to save money but I was wondering Do I attack this mortgage debt With the debt snowball or I would just kinda impasse. I don't know if I should start my 401k and start putting money towards that and then throw the rest of the mortgage debt but not living in the home. I didn't know which way to attack it. Only own one property. I am thirty seven okay. How much equities in them Probably about fifty to sixty thousand dollars between all so you're not much wiggle room in these things now with the cost of sailing. I would maybe breaking and you're not making much money on them random. Either it's about seven thousand dollars a year now. Plus or minus no repairs plus or minus no vacancy so. You're not making much money on them. Yeah I just sell them. They're not a blessing their reliability. Okay so you would just look with data mall. Yeah you don't make any money on them. Okay why keep him? They represent risk really because they're not cash flow and I mean they're not really making any big money and you know if you had if you had a ten or fifteen thousand dollar item hit one of them. You're negative all of a sudden you gotta put a roof on water. Heating air on two of them or something. I mean you could you real easy. Get into negative on these things. You don't have much wiggle room and so yeah I I would just get rid That that's an easy way to looking at. I love real estate. But I don't want real estate. This leveraged like that. It's not fun. I want wiggle room. Lots a wiggle room margin baby margin. Tony's taxes. Hi Tony How are you wonderful day? Thank you for my wife and I have been following your advice for a number of years. Consequently of our houses pay it off the WHO Tommy out of debt way to go about. Thank you very nice. We live in debt. Free for about eight ten years. Probably What you're not worse. I would say I've got a one point. Four million and I are a city in my company. Four One K. I'm still working on the house. They say it's about About one hundred fifty thousand dollars in real estate but what I pay on taxes and stuff Or what they say. I gotTA pay taxes so my question. Everything's paid for everybody's happy. I got one point four million but I'd like to buy me a porsche since I'm sixty and I'm thinking about retiring. But the government says about taking him out. Of course they're GONNA tax. How best can I do this? I've got It's probably hot ride in the garage. I could probably about thirty thousand dollars. And then we've got about sixty thousand and checking savings so that's our current situation right now and this is totally a toy for me. Nothing I have to do is just something. I WANNA do Okay well I would have an emergency fund How how nostalgic is the hot rod in the garage? It's thirty one model a concern it's a customize Mon- lace I could probably sell it for about thirty thousand I said how in the style GIC is. And how much are you tattoo emotionally? Oh nothing no okay. It was just a goof off car. Okay exactly fun. That's cool so what year thirty one. Nineteen thirty one fourth mile lay. I love it. That's so cool man very neat and you can get. You could get thirty grand for that and you've got too much in your checking and savings you don't need a sixty thousand dollar emergency fund to you know every thirty day care. What's your emergency on? What's Your Fund Bay? Three to six months of expenses three months of expenses three months inexpensive. I would say that maybe ten thousand around there. Yes fifteen or something and you got sixty in there. So that's forty five and seventy five. So how much is the Porsche One? Thirty one thirty time. And and what's your household income? It's about one forty two one six depending I'm in sales so it depends on bonuses. I got you okay If I were in your shoes I would use the hot rod money and the money down to fifteen thousand out of the Emergency Fund. That's bloated And then I'd pull the balance out of your 401k Would you say in? Take a loan against the four one. I just pulled out pay taxes. You don't have a penalty on or fifty nine and a half you got you. You're not to pay taxes on it. And so you know you need about seventy grand. It sounds like ever take and so you're GONNA be pulling them out. Don't pull about one hundred out of okay but I would definitely do that all right. That's all that question. I was just wondering I didn't know what the taxes would be always hear about taxes. I always like feud that whatever your tax rate is what it'll be. I'm just guessing. Probably thirty thousand on you know on one hundred in taxes and that leaves your seventy to put with the other money. We've got to get the portion. That's that's fine. So because the core the Porsche's a very very small percentage of your net worth. It is a new car and yet you are millionaires. Almost two millionaire actually in your total net worth and So you hit all the right things to earn this car and To enjoy it and which which Porsche are you looking at the nine eleven okay? Twenty twenty nine eleven okay. That's a beast so wonderful car. Yes absolutely aim enjoy it. You've worked your butt off. Did you start out with money? Did you inherit a bunch of money? No out of high school. I was digging ditches. I was one of those. Don't pay attention school. You're GONNA dig ditches. Whatever with me so I worked my way up through a dish crew on a plumbing company and eventually became a plumber realized that was too hard work and say the money for college could be about ten years to graduate from college but I did have been in one cynical sales ever since and that's about twenty five years now so that's where I'm sitting right now so you didn't. You do not become worth two million dollars. Due to inherited money you earned every bit of it and saved it starting from coming out of high school good for you. Save your money because you can't pretend. Did they go? Get Your Porsche. You earned it every day millionaire. This is the Dave Ramsey show Our Scripture Today Matthew Eighteen twenty four where two or three are gathered in my name there. I am among them. In reports said coming together as a beginning. Heaping together is progress. Working together is success. Shana is with us in South Carolina. Hi Sean how're you doing well Thank you for taking my call. Sure what's up? I'm calling so my husband and I are finishing up baby. Step two But questions about three years ago before we got don't e- We offer mobile home for our first house. It's like a stronger. How soon with Attention the off and renting it out so no one nail how you feel about mobile homes Should I I guess. Should we go ahead and pay it off and Babysat to being a you know. It's not like Leo House or say that for baby step six well. It's not a matter of how I feel about them. That's not the point The point is is. What's good for you guys? Okay and the problem with mobile homes is is. They go one way down in value. Even if you've paid off it's going down in value if you bought one hundred thousand dollar mobile home in you paid cash for it. It's GonNa be Worth Fifty Thousand and twenty minutes and before you blink. It's going to be worth ten thousand right. Yeah Yeah I go. I go down in value when they go down in value. You know and so The longer you own something that goes down in value the more money you lose you understand so that that's the problem and show you know. How much do you guys are on this We paid about fifty on that now. Yeah I think the sooner you get it sold the better. Okay you go ahead and so now. Because here's the thing. If you own it five more years okay it's GonNa be worth twenty five okay So my question is obviously can't sell it for the fifty something we own We make money that it could easily be paid off in the next year and a half two years. Honestly trucking we have the balance or the difference about okay. Well if you sold it you'd be dead for even sooner than that If you borrowed the difference I mean what would itself for that? I'm not sure we're only back and forth with it. That would probably make up the difference That would require me. Cylinder property as well Do you want to sell the property not particularly but it would make it easier. Oh Gosh we're all right we'll give you a clean slate and you know if you can make it break even get out of there and then buy a house. It's going up in value and then pay that off okay. That's that's probably probably our best course of action. That's that's the way that ten years from today you end up with the most money okay. That's what it amounts to win. So let's pretend I'm acres. Are you on now? Not for anchors. Okay let's pretend you found a nice home. Traditional built home on a A five Acre tract that you could buy for one hundred and fifty thousand men you put that on a fifteen year fixed and you sold the one you've got for any break even and just get out. No you had to write a check but you don't gain money when you sell the current acreage you have and the and the thing and then you turn around you pay off the one hundred fifty thousand dollar home very very very quickly. Because you're able to do that. You've obviously got a great income. You can pay fifty fast. You can pile for one hundred and fifty you know fast and so then ten years from today you're sitting on something that's going up in value instead of something that's going down in value and all that time you've been on a better property anyway. Okay all right yeah. That's one thing we haven't quite put it together a lot but that makes a lot of sense thank you. It's just the problem is I'm afraid this fifty is going to turn into twenty five before you blink And I don't want it to go that way any further on you and that that's the problem. I've got with these things so hey thanks for the call open phones at triple eight eight two five five two two five. I got a friend of mine. Who's in the mobile? Ho- manufacturing businesses like Dave. Quit dredging us and I'm like I'm not trashing you I'm just saying I'm just looking at facts and I'm not mad about it. It's not like I'm snob about. I'm too good live in a trailer or something like that. That's not the point. The point is is it goes down in value and you know the the purpose of this shows help people get more money not less and so if you took seventy five thousand dollars and bought a you know a tiny little starter home in most areas. That's some areas you could get it for that versus seventy five thousand dollars in a trailer and a double wide ten years later. That seventy five thousand dollar home is worth whatever hundred hundred and something thousand dollars and ten years later? That seventy five thousand trailer is worth twenty five thousand and that's just the way it works and they don't go up in value so it's the same seventy five thousand dollars. So that's why we talk about this stuff this way. So good question appreciate you joining us. Jennifer is with us in Louisiana Hot Jennifer. Welcome to the Dave Ramsey show. Hi Dave thanks for taking my call appreciate it. Sure what's up Okay quick question. I've got I have to actually have three sons but two of them are in College. And we've accumulated about ninety six thousand dollars in student loans Who'S WE Well me and my excellent well you know they we. We did the student loans for me and my ex husband so It's not in your kid's name right. I'm the I'm the borrower plus while okay right right So what we want to do. Years Ago we bought some land and we were going to use the timber to pay for our kids college So whenever we divorced then I started doing the student loan and Then recently I just realized because he used to take care of all this but then I realized that we were being charged like six point two five to seven and a half percent interest on. They've ever since two thousand fourteen when these loans started so. I WANNA get those. You know. Try thought about consolidating and getting cheaper interest rate but then you know we decided well we you know it might be best just to go ahead and pay those off so money to pay them off or you're gonNA sell the timber now. No while I mean we just. We just cut timber a couple of years ago and he. My ex-husband reimbursed himself for the portions that he paid for my oldest son's college but So we won't have another cut on that land. You know for probably about another two or three years. I do have You know in in stocks and stuff. I've got probably about Five hundred and twenty thousand dollars right now and then in emergency fund Savings Account. I've got about sixty thousand dollars and I watch as well. It's ninety six thousand dollars that we were going to split it. Forty thousand forty thousand a piece of you guys. Both of your names on all of them. Yes my name is our them as a borrower in and your ex husband is willing to put in his forty five. Yes because that's what we've agreed right now when you put it in right now. So as he got the money to put in his forty five right now yes he did. Pay It off tomorrow. Okay off tomorrow. This was stupid. You need to get out of your life as soon as possible. Yeah I just didn't know you know I was Kinda worried about. I wouldn't be worried about any. That'd be worried about being attached to my ex husband at the hip for ninety six thousand dollars. Pay It off tomorrow. You got the money in your checking account to pay your part right. Yeah and I mean I guess that's all it's it's hard to let go of that money when I'm trying to say five hundred thousand dollars in stocks. Why is it hard to let go of forty five thousand dollars? I understand is that it's it's I guess it's kind of a fear thing. It's I'd be afraid of what you're doing because it's stupid. It was stupid to do it in the first place. And it's been really stupid. Let it go on this law. I'll get that crap paid off tonight. Write the checks tonight both. Un gets him out of your world. Good Lord he's your ex husband. That's the point. My goodness no way. Now that puts this hour of the Dave Ramsey show in the books our thanks to James Childs our producer. Kelly Daniel Associate producer and phone screener. I'm Dave Ramsey. Your host will be back with you before you know it. In the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of peace. Christ Jesus This james childs producer of the Dave Ramsey show. You can now listen to the Dave Ramsey show on spotify Pandora for anywhere. You listen to podcasts. For All the ways to watch this check out our show page at Daveramsey dot com slash. Show make more money doing what you love. Checkout Christie Rights Business Boutique podcast Christie's inspiring and equipping women to become successful running their own business hand Christy Wright and I help women all over the country take their ideas and passions and hobbies and turn them into profitable businesses. If you have an idea in your head or dreaming your heart and you've ever wondered if you could make money doing it. I'm here to help. Join US on the Business Boutique podcast where we are equipping. Women to make money doing what they love. Hear more from the Ramsey network including Christie rights. Business Boutique podcast wherever you listen to podcasts. Hey It's james producer of the Dave Ramsey show. This episode is over the check. The episode notes for links to products and services. You've heard about during this episode. Thanks for listening.

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Breaking the Curse of Debt (Hour 3)

The Dave Ramsey Show

40:35 min | 1 year ago

Breaking the Curse of Debt (Hour 3)

"Live from the headquarters of Ramsey solutions. Broadcasting from the dollar car rental studios, it's the Dave Ramsey show. That is dawn cash is king and the paid off home mortgage has taken the place of the w as the status symbol of choice. I am Dave Ramsey your host. Thank you for joining us. Open phones at triple eight eight to five five two two five that's triple eight eight to five five two two five. Thanks for joining us. Brent is Brett is with us in Pensacola, high Brad, how are you? Good. Thanks for taking my call. Sure. What's up or psychological problem than a financial problem? Growing up. We didn't have a whole lot. And I have saved as much as I can. And I'm at a point in my life, where I think I'm okay, but mentally I don't feel like, I'm okay? You know, I guess most people who invest never really feel like they've got enough. So that's kinda my problem. Okay. And how much do you have in your state? Well, if you got up all my investments about two point five nine about ten point five million. No, no two to five. Okay. All right. Good. Good for you. And you started with nothing. You said, right. You grew up with the military and eight five and. Nickels to rub together. So how old are you? Fifty six and what do you make a year of these days? Well, it always varies between two fifty and three fifty. Okay. And what would be an example of something that you think a normal person with two and a half million dollars as if that's normal. I would've normal person spend money on that you that you psychologically, don't feel like you can. Well, you know, it's funny. I mean, I talked to a lot of people have searched that many website. And then I came across your show, which I just learned not long ago. And you know, you always want verification, I guess that enough, you know, some people think. You know, ten thousand a month is enough fifteen thousand a month twenty thousand months with comfortably. You know, just he just don't know. So I'm quite frugal probably drive. My wife crazy, calculating our finances. Every twice a month at least, so what is this luxury item? You guys are bought in the last five years, but the biggest luxury at him. I portion my garage. Oh, okay. One hundred grand a little more net. Cool. What's the biggest thing? She's bought. Her ringtone. She got core Range Rover. Okay. So you got a couple of nice cars. Okay. In trouble spending money on cars. That's one weakness. I do. It's not a weakness. Your you? You're in good enough shape to drive. Both those cars, I would drive those cars if I were in your shoes, I think that's fine. So here's the thing that I have figured out as far as enjoying money. There's someone from what you're asking me is how can I enjoy this? How do I know? 'cause I can't enjoy it. If I don't think it's enough. Correct. But if I heard you, right. That's what I was hearing. And that that happens a lot to those of us that started from nothing in my case, I start from nothing became a millionaire and then went bankrupt before I was twenty eight and had to start again because I'm stupid. So so I I kind of have that fear in the back of my head. You know, that that black cloud psychologically, hovering the back-back. They're like oh God. And you know, if you don't think I do you ought to ask my wife. She's got a bigger one. I don't know if we could afford that or not I'm like darling weaken definitely afford that. It's just but so the thing that's helped me do that. As I have learned that I can allow myself to enjoy money easier. If I'm doing two things. One is my generosity is high if I'm giving then it's okay for me to drive a Porsche. You know that helps me in the Porsche more. I think if I was stopped up. I wasn't ever giving anything not helping anybody with any of the money, then it would be harder to enjoy the Porsche. Okay. And so like, I drive a really really I've got several really nice cars car key. And I've got ridiculous money in cars. But as a percentage of my net worth which is the second thing. And as a percentage of my giving, even though they're really ridiculously nice cars. Like, you have you know, you've got wonderful cars. But you know, as an example in your case, you've got let's say hundred and seventy thousand dollars cars hundred fifty thousand dollars the car sitting there. And if if you give away three thousand dollars a year, then that's gonna make it hard for you. Enjoy those cars. Then so generosity factor in ratio to what you're enjoying whatever it is or if you travel, and you're gonna spend a hundred grand on travel, and you only give two thousand dollars away a year. It's going to be harder to enjoy the travel because you're becoming a hedonist when you're becoming n word facing and selfish and greedy kind of person. Even though you didn't mean to but generosity helps break that down in your spirit and keeps your soul a little cleaner. The second thing I look at look at ratios. And that's what I'm doing. When your car's one hundred and seventy thousand dollars for the cars as a percentage of two and a half million is nothing. If you took those keep the portion the garage, and usually I drive a ranger as well. But if you took all your cars and put them in the front yard with no insurance and set fire to him your life, really doesn't change your done change. It's a small enough percentage of your world that it's easy to enjoy because you're not out of line. But you take a guy who's making sixty thousand dollars a year and has a negative net worth with student loans, and he drives a fifty thousand dollar car in those guys are all over America. Right. See that makes that not only makes that car stupid, but it makes it harder to enjoy because the ratios are out of whack. He's got too much of his life tied up in luxury things if a girl's got a ring on her hand, and that is the entire couples net worth it's harder to enjoy that ring. Where Sharon is like she's got this ridiculously wonderful ring looks like a headlight. But when we got married it was a we got married. She got a point to three. It wasn't even a full fourth of a carrot that one's in the safe because it's the style GIC, but it wouldn't even show up around the ring that she's got now. You know, and I'm not bragging, I'm just saying it's because we've worked so hard you and me both for so many years if my generosity is up there. I find I can enjoy a portion of my wealth. And if it's a small portion of my wealth small enough, then I can enjoy we can go on a luxurious trip that costs more than we used to make an ear back in the day. You know, and you could do that right now, you could you could to and it's still it's while it's a high percentage of your emotional memory. It's not a high percentage of your current world. And that allows you to enjoy it. So hold on. I'm gonna send you a copy of the only book I've written on this subject wealth. All my other books are on money. Look, I wrote on wells called the legacy journey and warn you time, it's Christian book because it's the only way you can view wealth and keep it in balance. And so it's the only book I've written it's exclusively Christian. If you're not Christian really won't enjoy it. So throw it away or you for call coached your table or something. But I think you'll get something out of hold on your copy. I get asked all the time. Do I need life insurance? Listen, the point of life insurance is to replace your income for someone who counts on it. So if you have a spouse, if you have kids, yes, you need term life insurance and the best place, I know to get it is Zander dot com. Zander insurance is where I get all my insurance. And it's where I've been sending my listeners for over twenty years. You can get a quote in a matter of seconds. It's not expensive. It's not complicated. And you need to do this now Zander dot com. Well, it has been a busy thirty days in the last thirty days, we've launched three things that have been very very very popular around here. Thing number one that we launched around here. That's absolutely gone. Crazy is the Ramsey cruise. We teach live like no one else. So that later you can live and give like no one else if you're in baby step four five six seven, you're in a position to go on vacations, if you're not you're not you should you should be working to get out of debt, you're not invited. But. Next March twenty twenty we're going to go the Caribbean on Holland America brand new ship. And if you don't know this cruise lines in America's one of the nice ones, it's not one of the cheap ones. High-end nice cruise. We're going in March of twenty twenty and we're going to go to church and Geico's and Saint Thomas, and of course, the Bahamas, and of course, Puerto Rico. The stops are amazing the ship is one hundred percent hours. It is already seventy percent sold out. And we launched it like eighteen days ago launched the ship dot com launched the cruise Butto anyway. But anyway, yeah, seriously. So there's twenty six hundred people and there we've already sold seventy percent of the eights some seventy percent of the births. So if you haven't interest go to Ramsey cruise dot com, it'll be all the Ramsey personalities on their me. Rachel cruze. Chris HOGAN, Anthony O'Neill, Ken Coleman, Christy. Right. We'll all be on there. Monette Sean, who's one of the shifts from the big time food network stuff. She's a big star on that owns several restaurants in Nashville is a friend of ours is going and do some celebrity chef stuff there on the crew. She will not be cooking the dinners, but they'll be some demonstrations and so forth. She'll be with us, my friend student Curtis Chapman, country music, country music, Christian music icon. It's going to be with us, and he's absolutely incredible Grammy award winner, the our friend Jeff foxworthy's going, and so that'll be a lot of fun. And obviously, we'll be having some good redneck jokes among other things. And so and we'll do some events and stuff, but there's gonna be a lot of just enjoying ourselves all of us. And so we'd love to have you come. It's two hundred fifty dollars all to reserve your spot as a deposit per person. So if you reserve for you and your spouse, you know, I've already met a bunch of people that are reserved. Like, I said, we've got you know, only twenty six hundred actually it's only twenty four hundred and some change births because of staffing and so forth. So I it's about seventy percent gone. The second thing that we've launched that has gone big time out. There is Kim Kalman's new book the proximity principle the pre-sale on that is happening and the proximity. Principle is all about being in proximity to the people and places that do what you wanna do in your career, the proven strategy that will lead you to the career you love, and this is latest Ramsey press. Book coming out by Ramsey personality, and it will come out in may his own pre sale right now. It can Komen dot com. Daveramsey dot com and today, we launched four sale actually can ship it to you today. Live the contentment journal that Rachel Cruze is put out ninety days she's going to walk with you through a journey through gratitude humility and into contentment. Because gratitude and humility are precursors to finding contentment Rachel's. This is one of ritual soft spots right here. She really really really goes deep on the subject and does a great job on it. And this journal is a wonderful quality piece. It's a quality book. It's a four color the design team Ramsey just did an incredible job. I'm so proud of the product and regs really proud of it, of course. So the contentment journal the proximity principle and the crews that's some stuff that's happening around here right now. That's just all out of cracker. Thank you, very very much. All of you for your endorsing embracing all of these ideas, were we we to put out stuff where we actually help you. Heidi is with us. Heidi is in Tampa. Hi, Heidi welcomed, the Dave Ramsey show. I think you I have backed myself into a corner with my student loan. I originally borrowed forty thousand in ninety seven to go to school. I started paying them. And then when Finn out of four as my now ex husband went through a series of unemployment. So I I've been a single mother I worked three jaws in the payment. They want from me always more than I can pay. So I consulted with an attorney. And it looks to me like my best option right now is to file captor thirteen which will interrupt a garnishment. But I now have on my. Mary job. And then then that will help me the attorney says get into I get out of default with it and get into loan repayment, hopefully in affordable amount that I can afford you. You've had them for thirty years. Yes. Yes. I just I've tried to pay them. And I can but the violence to pay it off his what without current now is is it's ballooned to one hundred six thousand. And what do you make at your job? You're my my tax return. Last year was got home fifty two thousand. How old are your children? Nineteen and sixteen you're getting child support. No. Why? I've got some here there. But I don't get it officially on the record fifty. You said you made fifty two thousand. Yes. And in Tampa, Florida, and what do you do for living? I work for a construction manufacturing patera. I'm a quality manager there. So you're doing forty hours there, and then you're working extra jobs too. Yep. Time I work as an admin for a restaurant on do that work on the computer at home at night. And then I work weekends at my kids. Here's here's the problem. You're gonna run into. A chapter thirteen. Is a five year plan. Sixty months, and you pay payments every month during the entire five years. And if you do not pay more than you've ever paid in your life. You're going to come out of the chapter thirteen with, Dan. With substantial debt and so. You know, you have the chapter thirteen will get rid of the garnishment. That is true. And it might get you on a minimum payment to get you where you can breathe, but both of those things are short term fixes. If you do that you have to have a long-term answer to the equation. And so let's start doing some math. If we want to be rid of a hundred thousand dollars in five years, it's twenty thousand dollars a year. If we want to be rid of one hundred thousand dollars in three years is thirty five thousand dollars a year. That's what you need to do. And that means you need to think about what kind of career you can move you can make on your day job. But more importantly, what kind of second job you can get it's better than the one. You've got because I want you to get your income up fifteen or twenty thousand dollars, and I want you to start putting thirty five thousand dollars a year three thousand dollars a month towards these loans. So that in three years this thirty year curse on your life is broken because you have swept this under the rug and swept it under the rug and swept under the rug, and you've had a reason or an excuse every year that you have not dealt with it. And it is growing as you have noticed. It is not going away. Student loans are not bankrupt -able in the sense that you can make them go away with the chapter seven bankruptcy. The only way you're going to get rid of it as pay it chapter thirteen will get you give you some temporary relief and allow you to get situated. But you need to think about what we've got to do with our income. What we've gotta do with our budget, but three thousand dollars a month for the next three years and break this thirty year curse off of you. I'm going to help you you. Hold on. I want you to go through financial peace university. Is my guest you need some help. And I'll help you this is that Ramsey show. Wanna know the first step to creating a profitable business doing what you love while you build a website. With host gator, hostgator is the easiest and quickest way to get online. I'm talking -absolutely. No technical skills needed. Host Gators frustration free website builder to allows you to select one of their professionally designed templates and click your way to beautiful website in no time. Plus if you need help you can count on world class customer service twenty four seven tried today and get up to sixty percent off their hosting packages at hostgator dot com slash Dave. In the lobby of Ramsey solutions. Brandon and Anna are where the guys are. Are you Dave better than I deserve? Welcome welcome. Yep. So where do you live commerce city, Colorado just outside of Denver? How fun. Well. Welcome to Nashville all the way over here to do debt. Free screen is, sir. Love it. How much have you paid off two hundred ninety six thousand dollars and ten years? Love it. Good for you in ten years and your range of income during that ten years seventy five to one thirty five. Okay. What do you guys do for a living business development for an engineering firm? And I'm a teacher. Great good for you. Very cool. So two hundred ninety six thousand dollars over ten years. I'm guessing that might be your house that is the house and everything. You are debt free. There. We go. Like it. Good for you. What's this house worth right now with the increased economy it's around threes? Sixty three eighty. And it's your is. It is I love it. Well, tell me the story what happened on this ten years ago to start you on this journey. Oh about eleven years ago. Two thousand seven I got laid off on my birthday and felt pretty low was kind of low point in life fairly marriage. And and was able to bring home the bacon for say. And and so started out start my own company Guidon deer and Turkey on trying to make things work, and and then two thousand eight came around. And and I happened to see financial peace at our church and get started on the program. Financial peace clash at church. And here we go. But you've had that wakeup call that say, we're gonna get serious. Yep. Very cool. Very cool. So you still do guides. I do absolutely twelve years now. I love it. That's fun. Good for you. So that's your sod us. It is now day. Yeah. Okay. Very good. So you start out on the plan after in two thousand eight after going through the class. Did you have a bunch of other that too? Yes. Yes. We had about ninety six thousand in consumer debt just be a normal. Yeah. We needed a four Wheeler and we needed to dub. And we needed lots of stuff you have you have to have a lot of firearms ratio of firearms to dig or to port. All right. But it cleaned all that up. And then you went out you just kept going on after the house. We did we did you follow the baby steps to a tee for a decade. Yep. All the way through I really got us on the same page because for the first four years. It was a lot of fun has we watched the debt just go away carts, go way and the payments. No more. And then the house came. Yeah. You start doing baby step four you get baby. Step three done. You get the emergency fund. There's a lot of relaxing then. But then it everything just kind of slows down. It took you six years after that to pay off the house. Yeah. Really since I've, but you're right. We did twenty two thousand in our emergency fund. Seven years. So you beat the average. Yeah. And then we decided to start really putting a lot more money towards the house and pretty soon, we're doubling house payments and more than doubling house payments, and once you hit five digits. You're no longer in the six digits, then it gets more exciting. And we start really really throwing everything we have towards it. Once it down under one hundred K, and it's kind of like that consumer debt you had which you didn't for years. You know? Yeah. So you're going, okay. And we don't even have those payments, and we make more than we used to. But so Bom game on. Yeah. You really is. So if you said out of that six or seven years that you worked on the house, you probably I'm gonna guess so you paid off fifty percent of it in the last two how? Yeah. Yeah. We did sixty nine thousand in the last year nine months, that's not unusual because your momentum your emotional momentum picks up and you sacrifice deeper. Yeah. Yeah. Good for you, guys. That's your classic. How does it feel? It's a great. I'm in the middle of teaching my third FPU class now. So it's nice to be able to help bring that to them and show them. It's real and it's a decade. Yeah. I mean, we didn't microwave this chronic. Cooking. It's slow and good. But this is how you do it. Right. You did it perfectly. So well done. Congratulations. Thank you. And you brought the kiddos with you. We and what are their names and ages abbey's nine and hunters six. All right. So have they figured out? What all of this means that happened while they were alive while they were being born. Yeah. Did in fact when we went to pay our last mortgage payment for our house be brought them with us to the Bank, and they got part of the whole process, and they absolutely loved it the lady at the Bank. She didn't even know how to process it. Because she said nobody does this. Nobody does this. I'll have to call headquarters. I have no idea really where to even begins. But these guys were part of part of it all pictures of them there on the YouTube channel hold on the signs were free at the Bank. Yeah. Yeah. That's good. Because that way they remember it, right? Because this is the day. I mean the day you pay off your house. They. Well, their grandkids. I remember mama day took us to the Bank. We held signs up. They'll have that memory, and it changes things because then when they get married and the husband or wife wants to death like. Like. It's like that. Maybe like marrying into the Ramseys. You know? Oh, man. That's that's that's how you change it marked a milestone, I'm so proud of y'all who was your outside cheering you on outside of your family. We had a lot a lot of family, parents cheered us on. And then you know, I can't keep quiet so spread it with all my hunting clients and had a lot of cheerleaders in there as well that the classes you've taught on while you're leading financial peace. Absolutely. They tell everybody to. Excited. Is there? Life is changed. I mean, you guys are going to be multimillionaires. It's going to be their life is completely shifted. Right. It's amazing. So well done well done. I'm so proud of you you guys are Nate. What a great story. Thank you. Great story. Well, we've got a copy of Chris Hogan's book for you. This is your next chapter for sure every day millionaires. You may already be there. You're pretty close value this house, 4._0._1._K, money and stuff. You're you're gonna be there before you know, it, and then we're going to just work on the Decca Megan here there you go. So well done guys well done. It's a great story because you persevered for so long. What do you tell people the key to getting out of debt is? Just power through it. It's not a microwave microwave plan. You've got all the tools, you get you just gotta stick with it and do the heavy lifting. Yeah. What an able to stick with it. Do you think my rockstar wife? Yeah. Yeah. We're we're our our biggest cheerleaders. We'd sit down and work through a lot of things together. Yeah. Yeah. I don't I don't think you've hardly got a shot. If you don't do it together. Yeah. Yeah. Communication, especially when you start ten months, you can pull it off. But ten years you can't you can't dry game by ten years. Yep. It just all you just get bloody. I mean, it's just bad, but you guys together. And now how old are you to thirty nine and thirty eight oh, you're not even. For your house is paid for. I love this. All right, Brandon, Abby and hunter their house and everything is paid off two hundred ninety six thousand dollars paid off in ten years making seventy five to one thirty five count it down. Let's hear free scream three two one. Yes. Baby. Listen, ten years. How old are you right now? Listen to this in ten years, you're going to be ten years older. Where are you going to bay ten years where are you going to bay? They just showed you they're making seventy five thousand dollars a year. They had two kids. Raising them while they're doing this raising their income up to one thirty five over that period of time went to job losses job changes. Life has happened. Ten years you're gonna be ten years older. Anyway, might as well be doing something to go somewhere on purpose is you're not going to get the winning on accident. This is the Dave Ramsey show. Our scripture of the day twenty five four five show me aways. Lord, teach me, your pads guide me in your truth. And teach me for you are God, my savior, my hope is in new all day long. Ralph WALDO Emerson said do not follow where the path may lead. Go instead where there is no path and leave a trail there. It's a classic. Yeah. Very good stuff. Well, if you've ever felt stupid because you couldn't understand your taxes. Amy is one of our fans and she had a different experience after working with one of the tax endorsed local providers. I've never had someone try to help me understand how taxes work until I worked with my E L P. She helped me fully understand it. And now we found our CPA thanks for recommending attacks. Professional daveramsey dot com slash L. P click a yelp for taxes, and they'll help you do your taxes. If you're ready to do investing sustain thing. It's called a Smartvestor pro. You're the smart vaster the person who sit with it's a professional in businesses called a Smartvestor pro. That's what we call them. So you click Smartvestor daveramsey dot com, and you can sit down with someone that helps you understand like, Amy understood our taxes, the Smartvestor pro can help you understand your investing. In a recent study shows that fifty one percent of employees who changed jobs leave their four one K with their previous employer. When that probably ought to be less than two percent of the people do that, always take your 4._0._1._K with you into a direct transfer rollover into an IRA appro can help you do that you can pick better mutual funds and better access to your information. And your celek. Action and even make adjustments with eight thousand mutual funds out there by rolling it to an IRA. And that's what we always recommend. So anytime, you're doing with your kids college investing a for a one K rollover, you're wanting to set up a 4._0._1._K for your small business, you're wanting to invest invest, invest Smartvestor 's Smartvestor pros are used by Smartvestor. You are smart investor. Click Smartvestor at daveramsey dot com. These tax professionals Smartvestor pros do not work for me their company. Individuals are people that pay us and endorsement fee, but we will not allow them to be endorsed by us. If they don't have the heart of a teacher, then walk you through make sure you understand and their advice does not align with what we teach. And so you're not going to get. You're not gonna hear one thing here on the air. And then get something else from one of these folks that simple, Alex is whether it's in Orlando, I welcome to the Dave Ramsey show. Hey, David docu, you what's up? So I just wanna jump right into it. I work at a hospital the opportunity for a lot of overtime. But unfortunately, I can't really move up unless I go to school. I'm currently thirty to thirty seven thousand dollars in debt. I'm wondering if it's worth it to go to school to kind of boost my level of income or just work the overtime and be able to knock out that. Okay. So what do you do? Clinical engineer. I basically just fixed medical equipment. Okay. And going to school in order to move up means what? It would be a two year electron IX degree, which is paid for by Florida, prepaid which my family set for me, and it would boost my income by about ten thousand dollars a year one. I don't know how to do that stuff already. I mean, I personally do it's just kind of like what's the general requirement by most companies that are looking for kind of coin juniors. Because they can't position that I'm in was high. I was hired in by company that basically put me on like a entry level position work. You work. You have more knowledge than someone with a certification is what I'm hearing not necessarily. So when I was hired on if my current position was the entry level position, which is just a medical equipment technician to move up to what's called a Biomed. You would need that certification or at least two to three years of experience. And what does that cost you have the money to go in your prepaid? Right. Yes. Would just be the cost of books. Okay. And so you work forty hours a week, and you would go to school at night. Yes. And you can finish in two years more than likely. Yes. In the only downside is that slows down. How fast you pay off your debt? Correct go go to class. Okay. I'm with you. It makes sense. Okay. And then tighten your budget and. Nights a week where you being class. It'll be three to four nights a week. And how old are you? I'm twenty four we don't Saturday Saturday. You're where you're trying to get out of debt. Okay. Let you off the hook completely. I think I think you have a valid thing. Okay. Alex. Sometimes when someone says I need a degree to move up. They they think there's a barrier. That's not there. I think you're barriers real though. Okay. I'm hearing what you're saying. I I don't know enough about your industry to be a hundred percent, sure. But the way you've described it was logical. I think you're critical thinking skills are solid. I think you've observed something very real here. But sometimes people go, well, you just nobody in our company moves, and I'm like now, you know, people they actually get their stuff together and do their work on time of the people move a head most industry says sometimes that degree thing is is mythology. That's not what's holding you back. But in your case, it's a cert, and or some knowledge that takes you into a bio, you know, level of this. It's a different thing. And so yeah, that's what I would do. How would do this? I also what are you making during your day job? Now my day job annually, if I don't work extra over and run around thirty two and you're living on your own in your old. Did you say I live with my wife, actually? And I'm twenty four oh, does she work the home? No, she works as a retail. She brings in an extra like twelve thousand dollars a year. Okay. Do you have children? No, okay. Well, she needs a better career, her sucks. Yeah. She just moved over here because we just got married like back in December. So she just moved over here and had to find something because she was a cheat. Also, so okay. Well, let's rephrase this we are in debt because we are married. Yes. We have an income that can be sensu. It'd by getting hers up because hers is awful, and you can work some weekends while you get your income up by going to school on the four nights a week. How much debt did she bring into this? And thousand okay, so forty six thousand dollars, and if she gets her income from twelve to where it should be thirty to forty. Okay, pretty quick as she can do that. And you get your income up with a little bit Saturday type overtime now. We've got pretty good household income to attack forty five thousand dollars worth of debt. Wow. You still go to school? Yeah. You can do all of that all of. That's doable. You're young. You got energy? I'm proud of you, man. Get after it. You can do this open phones at triple eight eight to five five two two five the danger of the student loan crisis. Is that people have begun to say, no one needs to go to college. That is not true. No one needs to go to a college. They can't afford and no one should go. And study something not necessary for them to win in a career or their career unless they just have extra money. If you wanna go study, something for the sheer sake of knowledge, and you have extra money, your parents when I give you a hundred thousand dollars to go do that, that's fine. But don't you don't need to go into debt to get a degree in a field. That is not applicable in the marketplace from place charges, you six times more than your state school would a charge you he's going in tech deal for two years. It's going to tech cert-. That's not gonna cost him hardly named plus families. Save the money for him to do that. He's twenty four. That's all very, very wise. So education is smart. Advocation education. That's not useful that you go into debt for and you pay for X what you should have paid for. It is dumb. Don't throw the baby out with the bathwater. Being dumb is not a plan study somewhere something that's usable and pay cash for that puts this hour that I've Ramsey show in the books. We'll be back with you before you know, it in the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the fruits of peace. Right. Hey, it's Blake Thompson senior executive producer for the show. You can listen or watch anywhere. The Dave Ramsey show. Apple on your smartphone. Catch the full show or watch the highlights and checkout. Dave's upcoming guests heads the app store and download it today. Make more money doing what you love checkout, Christie rights business boutique podcast. Crissy's inspiring. And in quipping women to become successful running their own business hand, Christy Wright, and I help women all over the country, take their ideas, and passions and hobbies and turn them into profitable business. Do you have an idea in your head or dreaming, your heart and you've ever wondered if you could make money doing it? I'm here to help. Join us on the business podcast where we are quipping women to make money doing what they love seems crowd Christie rights business boutique podcast wherever you listen to podcasts. Hey, it's James producer of the Dave Ramsey show. This episode is over but check the episode notes for links to products and services you've heard about during this episode. Thanks for listening.

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Maximizing Your 401(k) Options to Build Wealth (Hour 3)

The Dave Ramsey Show

40:17 min | 1 year ago

Maximizing Your 401(k) Options to Build Wealth (Hour 3)

"Live from the headquarters of Ramsey solutions. Broadcasting from a dollar car rental studios. It's Dave Ramsey show. Where debt is dumb cash is king and the paid off mortgage has taken the place of the BMW as the status symbol of Joyce. I am Dave Ramsey your host. Thank you for joining us Brandt and Suzanne start off this hour in Australia. Hey, guys, how're you? Eight hundred you do better than I deserve. So calling all the way from Australia to do your debt free scream. Yes. Love it. How much have you guys paid off? A hundred ninety six thousand dollars nominal, and how long did that take for years and eleven months, very cool and your range of income during that time, we went from under thirteen thousand up to a hundred and ninety four thousand great. What are you guys do for a living? I'm a social worker, and I'm a cattle nutritionist, right? Very good. Good. What kind of debt was the one hundred ninety six thousand? We had some Car Loans and credit cards air conditioner, medical bills, student loans and mortgage, you paid off your house way did. Older house in the process. Do I know we actually sold the house in the process? Okay. All right. So where are you living? We live in one buck Queensland. But in a rental or what? Oh, yeah. We're in a rental house. Our debt snowball started by a selling our house, and we put that money to start this noble. What did the house so for? It's old for a hundred and ten. Okay. Good. Very cool. So what started you guys on this journey four years and eleven months ago? Well, we we actually so we went through financial peace a couple of years before that. And I add during the process I had a little bit of accident. And we got we got lost in the in the process and about the four years eleven months ago, we were we were fairly desperate with our with our finances. They even and we couldn't we couldn't actually figure out how to how to how to get it all done. I'm a little bit of a a budget nerd, and I I had I had spreadsheets and spreadsheets, and I was looking on the website, and I decided to call one of the financial coaches that you guys have on their. All right. I put my name in. And he called me and fella named Greg. Pair services called us in. He walked through your baby steps and helped us with accountability. Okay. I've known Greg along time. He's a good guy. Yeah. Well, we swear by them. This on track. It was so helpful to have somebody be accountable to and he would pray with us. And he just helped us a whole way. Your own financial personal trainer. Absolutely. Yeah. Very cool. Well, congratulations. How does it feel going from being desperate to being debt free? Mazing? It is just freedom. How did you guys? Get connected with us in Australia. Well, we were we were actually living in Texas panhandle in time. We we moved here three years ago. I see. Okay. So in the process, you end up in Australia. Got you right. Yeah. Actually, moving was part of our why? So what are you doing in Australia? I mean, why did you go to Australia? I'm curious. Well, so so we wanted to go to stray are actually we came dry for part of my work, but also to serve on the mission field. Okay. All right about that's where we were going. It's why I wanted to make sure I wasn't just guessing. Okay. Good. Good for you, guys. We'll congratulations. What a great great story. What do you tell people? The key to getting out of debt is. Well for us. It was having that accountability. Just knowing win to ask for help knowing that you need help and getting someone to keep you on track. That was so helpful for us. So big deal. Yeah. Good. What about you? Brent? Well, I think I think the budget is a big deal. And and I think. I think that able system is that helped us a lot. But then I think accountability is a huge deal for us. We'll you're also Dave just faith is a huge deal. Just seemed like seemed like every time we we trusted and had faith that that that Jesus myth that medicine there. God God will show off when you do that he'll show up and show off on it. Yeah. Absolutely good for you. I'm but say enough stralia that one dollars are coins. So we hadn't done bundles of coins, and they would rip through the. Switched to the ziplock Baggies them. That'll work like it. That's perfect. Well, thank you guys so much. We're going to send you a copy of Chris Hogan's retire inspired book, we want that to be the next chapter in your story that you go ahead and finish this journey and become millionaires. And outrageously generous along the way. Obviously, you're giving with your giving your lives on the mission field, and that's an important part of this story as well. So congratulations to you guys. Very well done. We're proud of you. And thank you. Thank you. Brent and Suzanne in Australia one hundred ninety six thousand dollars paid off in four years and eleven months making one thirteen up to one ninety four count it down. Let's hear a debt free scream. Three two one. That's how it's done while love that very very cool. Very cool. Love it. Excellent. Open phones at triple eight eight to five five two two five Thomas is on Facebook dot com slash Dave Ramsey. Dave. I'm watching your real estate home-buying video in financial peace university. And you save twenty percent down is that the same for a military veteran. Yes, Thomas, I don't recommend the VA loan for anyone obviously. It's only available for veterans because the VA loan is a more expensive loan than an FHA loan, which is a more expensive loan than Fannie Mae loan. So of the three conforming traditional mortgage types, FHA VA or Fannie Mae. Fannie Mae is the cheapest now it should be that the veterans loan is a benefit to a veteran is cheaper than anything out. There ought to be a benefit. There's lots more expensive. It's a higher interest rate higher costs higher everything the only advantage, and it's not an advantage. It's a trick with VA loan is you can it's the only loan you can get in with nothing down. And then all you do is get further in debt and bankrupt. You can't afford. So it's just not a fan of the VA loan system at all huge the military. Respect what you guys have done. What you do? And thank you for serving your country. But. We the taxpayers should pay you back for doing that with something better than a VA loan. They suck. Hope I wasn't unclear. This is the Dave Ramsey show. I get asked all the time. Do I need life insurance? Listen, the point of life insurance is to replace your income for someone who counts on it. So if you have a spouse, if you have kids, yes, you need term life insurance and the best place, I know to get it is Zander dot com. Zander insurance is where I get all my insurance. And it's where I've been sending my listeners for over twenty years. You can get a quote in a matter of seconds. It's not expensive. It's not complicated. And you need to do this now Zander dot com. Thank you lasco's calling. Jonathan welcome to the Dave Ramsey show. Hey, thanks for taking my call base question. So my wife, and I we're gonna be finishing up baby step three hundred babies at the end of the month and bring them starting babies at four, and I actually just got a new job where I got a raise and everything and I was looking at their retirement plan, and they offer a 4._0._1. k where they give me three percent just for being employed there and they match up to five percent a hundred percent up to five percent. But then they also have a four zero three b and Roth options, I was curious. I know say fifteen percent trying to hear what would be the best way to put off fifteen percent in. Okay. And the 4._0._1._K with the matches has a Roth option as well. Well, I'm looking at the paperwork into says 4._0._1._K and as one retirement plan, and they have another one four zero three b with rough rough option. Okay. Usually if they have a Roth option on one they would have it on the other. So okay. So let's walk through this. The first thing is when you get to baby step four after you have your baby step three complete of three to six months of expenses for emergencies. You take your household income Tom's point one five fifteen percent. So what is your income? And what is your wife's income? It's seventy five. I'm the only my wife just quit her job. We're having a baby at the end of April and she's not going back yet. No, she's not going back. Okay. And so we need to put a side eleven thousand two hundred fifty dollars so somewhere around the thousand dollars a month. All right. And the first and best option is a Roth 4._0._1._K with a match. Okay. The second. Best option is a regular 4._0._1._K with a match. Now, the four zero three b could be in this mix. Okay. But my guess is the four zero three b usually they have bad insurance type products in new itys, and those kinds of things as your options for investing there. And I'm looking for good growth stock mutual fund options. Like, we talk about all the time. And I'm gonna I'm suspicious that you won't have those available in the four zero three b so I'm gonna just deal with the 4._0._1._K. Now, let's say that your options the mutual funds that are available in your 4._0._1._K are medium. They're not really bad. But they're not great. Okay. Then I would put in the three percent and the five percent to get the full match. And then pass the match on might go. Do my own Roth IRA off to the side. And so that and that's going to get you, you know, about their. So the goal is by adding all this together. We wanna get you two thousand dollars a month about eleven thousand two fifty a year close to twelve thousand a year something like that going into these programs. But yeah, we definitely want to do the Roth 4._0._1._K with a match as our first choice regular for a one K as a second choice up to the match pass the match I probably going to do Roth unless you're unless you're mutual fund options are amazingly good inside the 4._0._1._K. I'm probably going to do a Roth IRA with my own mutual fund selection because I can pick out better mutual funds may be than your 4._0._1._K has. So look at the track records on your long term track. Records on the mutual funds inside your 4._0._1._K. It might be that you just ended up putting it all on the 4._0._1._K. And just go, you know, need fifteen percent of my income going in to my 4._0._1._K, and that's going to get you all those matches. And it's rough and you've got good mutual funds. And we always suggest in my personal investments are one fourth in each of these growth, growth and income aggressive growth and international spread across those evenly. And that's what I'm always looking for good mutual funds long-term track records or five years ten years longer. Nothing. This like one year two year three year drag record. I don't care about that Steven is in Pasadena, California. Hi, steven. How are you? Hey, dave. I'm doing good. So I have a question if you can explain 'cause my brother I've been talking to him about your program, and he says, yeah, that's all fine and stuff, but I don't see the positive and being having zero credit 'cause then how am I going to buy a house? How going to be able to do all these things without having a credit score. And I completely one hundred percent all in on your program and everything, but I wanna talk him into it. Because I know they're having some struggles with things, but at the same time, I don't know how to explain that. As let's start with the idea that he is arguing with financial advice, and he's broke that's pretty soon. But. Let's start there. I mean, this guy he really, you know, he hired if you hire a personal trainer, and they tell you what to do you ought to do it. So let's start with the idea that credit score hadn't been a blessing. This guy broke he's having financial problems. So his plan really sucks. We need to start with that idea. Now, then we can back up and say, okay, what is the technical aspects of this buy a house, and all these other things you said, he said, well, all these other things are your problem, you pay cash for everything, but a how and I'd rather you pay cash for house, but zero chance ever that you need to have any credit card debt, any student loan debt are any card debt or any debt other than a house. If you want to be a millionaire all these millionaires, we've studied all these not broke people like your brother, but all these people who have money that we have studied for thirty years have avoided debt as their primary way to become. I'm wealthy because that allowed them then without any payments to invest so you save up and pay cash for your trips your Christmas, your college you save up and pay cash for your cars, your boat. Your toys you save up and pay cash. Like grandma said, if you ain't got the money don't buy and the money means you need to have all the money to buy the item. And it doesn't chase you home. Now how to deal with the house without a credit score. Then you can actually get a mortgage. You would have to. Do what's called manual underwriting? And not a lot of mortgage companies know, how to do that Churchill mortgage is one that does know how to do it, and there are a few others. But a lot of them are just so stupid. The only thing they know how to the only loans they know how to make her FICO loans, and they look at the FICO number and they make the loan. It stated income loans, and they're the type loans that are disastrous. But that's the way the is set up. So, but you can get a manually underwritten loan, and that means that they can't just look at the number because there's not a number. They actually have to look at the person in verify that you have job and verify that you have a down payment and verify that you can make the payments based on your income ratio to your payments, and they actually do underwriting. And like we used to do when we first started in when I started in real estate business thirty five years ago, we actually mortgage companies did real underwriting back then they just look at one number and make the loan and that number being the FICO score. So the answer is yes, you can get a house. No, you can't get a lot of other stuff. But you shouldn't anyway unless you pay for it. And if you're gonna stay in debt, you are not following the shortest track to becoming a millionaire. So that's the answer to his acquaint. The other the other thing you gotta remember this. I find myself in the early days of the show, and like you are Stephen arguing with people. Is not worth it. Just go live your life. You can't talk stupid out of some people. Even if they're in your family. They're just going to be stupid, you go live your life. You're not gonna argue him into anything. He's broke and has strong opinions about money. How interestingly stupid is that. So he's arrogant, and it's gone his he's gonna have problems until he decides he's going to listen to someone who knows more than he knows. Which includes you, by the way, you know, more than he knows so sorry. But that's just I I've had these conversations of people like this for years, and I just quit having them. It's a waste of good energy. So I'm not can't talk you into being smart. You got the side you're going, get smart. And then I can help you get there. But I can't just club you over the head. And he's not he's one to argue. He he's not really one learn. And so I don't think you can argue him into it. You're probably going to be really frustrated trying so probably wouldn't try probably wouldn't have arguments with them. But you do whatever you want that gives you the tools to do it either way. This is the Dave Ramsey show. If you're struggling with the junk easily accessible online or you're concerned about what your family is viewing. You need ever accountable. Ever accountable is online software that monitors your browsing history and delivers detailed weekly reports to a trusted person in your life ever accountable helps people out of isolation and opens the door to freedom and trust take the first step and start your journey today with a free trial. Visit ever accountable dot com slash Dave today. Justin is whether in Princeton, New Jersey. Hi, justin. How're you? Not finish. How can I help? I'm trying to figure out what to do with my fifteen percent to invest right now. I work for a company that invests twenty five percent of our pay into a trust that we can't contribute to. Okay. My wife has a pension system. So she can't contribute more than she has. And we both max out our Wath IRA's good that doesn't hit our fifteen percent. So my next step. What I would assume be doing just I-, investing mutual funds. Neither one of that. Neither one of you have a 4._0._1._K or four zero three b in addition to the stuff, you're company does got his cracked. Okay. Yeah. You're you've run out of you've run out rope. So yeah, you, you know, you you fill up both Roth IRA's, and what's your household income practically hundred twenty thousand a year? Okay. And so you need to be put in about seventeen away give or take and you put away eleven so you're about six show about five hundred bucks a month going into some mutual funds. Probably what I would do in that case is just do something like an SNP five hundred no load because you can do the four types we talk about, but they sell the stocks inside of them ever so often, and you might have taxes on going the SNP no load will have a low turnover ratio. So you won't have any taxes on going much. Grows girl without there's enough money in there that will match what I currently all my home, shall I pull the money out and pay my house off at that point. Or do I keep the money in the account? In what account in as p account that you're talking about a once it builds up to that? Yes. Good question 'cause there'd be no penalty on it. And you're only taxes would be capital gains rate on the growth. So. I think that would depend on the balance of the other accounts. Here's the way. I look at that. This is retirement were labeling this SNP retirement. It's not a sidebar for purposes of doing baby step four you in are calling this a retirement account. Right. Right. Although it's not technically. Okay. So, but for purposes of baby step four, it is now the way I tell people to pay how much would I pay off your house out of your retirement accounts? I would not drain your retirement accounts. So let's say that I'll just use an example, let's say three hundred thousand dollars in your Roth IRA's, and there's two hundred thousand dollars in this account and your house payment or your house debt was one hundred and fifty. Yeah. Probably would. But if this is about all you got because the other counts haven't grown much. I wouldn't I wouldn't take you down to almost nothing for retirement in order to pay off your house. I never do. Okay. I worked one that. They put into it. They put in twenty five percent of mine will pay should I still be doing fifteen percent, you think into retirement because you don't even control over that. They're not putting their not taking. Eighty five percent out of your check are they? No, no. That's just that's just a bonus. It's like a pension type thing. Okay. Yeah. You're gonna be you're gonna be very wealthy. You're well on your way, you're in a lot of money from all these different sources that we're talking about very very well done. Good job man kicking kicking it question. Comes from blinds dot com ever one hundred percent satisfaction guarantee. Have you ever done some man, I'll tell you when you get the tape measure out and measure something. You know, the old saying if you're if you're hanging trim or cutting board or whatever as measure twice cut once, you know, and your measure something wrong, and then you get up there, and it doesn't fit so maddening, especially if you ordered window blinds over the internet, and they come in they don't fit 'cause you tape measure their own. They have one hundred percents satisfaction guarantee. Even if you screw up at blinds dot com, you just call them they'll reorder them, and it's pretty cool. They got free shipping free samples new promos every month. Check it out us Ramsey as a promo code at blinds dot com. Britney is in Utah. I'm planning a trip overseas. My debit card is daily limit of two thousand and we're gonna make seed this what you suggest for funds while. I'm there into a couple of things you could open another debit card. You could talk with your Bank about increasing your limit. I have lots of times when we're traveling were over two thousand dollar limits. So my debit card my personal debit card as part of our negotiation with their Bank is to raise the limit on it. And you could do that. And of course, the other thing you can do is just have some cash. Just have some cash cash cash or old fashioned traveler's checks if you've ever done that kind of thing. So I generally do all three I some guy tweeted today goes I'm kind of nervous about having one debit card because if it gets cut off, you know, it's the same thing credit card. It could be cut off their algorithms on credit cards and debit cards now at the banks to avoid identity theft and avoid fraud, which they are the Bank is responsible for in. Either case you don't lose money on a debit card lose my credit card if there's a dentist theft and fraud on action on it. So there are built where any unusual activity on the car at all shuts down immediately. And if you've noticed as the identity theft problem has increased the sensitivity of those algorithms have increased. Twenty years ago, you couldn't get a credit card shutdown now, you can get one shutdown just by going across the state, and they go oh you bought something in Memphis. But you live in Nashville Brome shut her down. I mean, it's just like any little thing. She shuts the stupid thing now. So yeah, I travel with at least two debit cards one on my business when I'm personal account in my standard wallet. But I also have other accounts that have debit cards on them, and Sharon has hurt too. So that we're not, you know, we're not stuck out there with fr and always do the fraud. You know, you have to let them know. You're traveling. You have to get your banks permission. Now, we are going to Mexico, those are not fraudulent charges. You know? So we are going to be in, you know, wherever we're Europe or wherever it is. We're going, right. So yeah, you need a there's actually most of the online most of the online banking now has an ability for you to notify them. So that the outgrew them doesn't kick you out. So you it's like weird. But it's all as a result of all this. Theft that is out there. And these banks are tired of paying these bills when these thieves steal from them. And you notice you didn't have to pay it in either case, Brian is with us in Charlotte, North Carolina, Brian how are you? Hey, Dave, doing great. How are you today than deserve? What's up? Hey, thanks for taking my call. My question is around a rental property that have I I had a house before my wife, and I got married tested a rental when we bought our primary. We currently owe a hundred thousand on it. It's worth about one sixty five. It's rented out now has a positive cash flow over the mortgage and taxes of about four hundred dollars a month. I question you are goals to really get out of debt. I keep that Renell around and apply. The the profits to our primary mortgage or fill it out right now. Take the proceed the five tar primary mortgage and use that to help pay off our primary house. What do you own your primary? Two hundred and forty six thousand. What's your household income right at two hundred thousand a year? You got a great income. So here's the thing. If you've always desired to have rental property, and you always wanted to run I'm love Reynolds. I love rentals. I wanna have this house's rental that and how you ended up with this house as a rental you ended up with it as a rental by default not by playing, but if it has converted in your mind, and you always wanted to own earn own rentals, you probably could get both of these paid off reasonably soon. Giving your household income? I'm guessing you have no other debt, we come other debts where? On track to pay off student loans. This year, we have about thirty thousand remaining we're hitting them have he was pretty much everything we got. So we're expected to have that paid off fairly soon. The only variable in the discussion that says may be you keep it if you love it is your high income. Because you should be cloud through all of this real quickly. That's the only reason if your income was fifty thousand dollars less. I'd have you sell it in a heartbeat. I'm probably selling it because it's mythology that it's actually cash flowing four hundred after vacancy and repairs. You're not really cash flowing four hundred you're probably breaking even so, yeah, I'm probably getting rid of it. But but you make enough if you really really love it, and you really wanna own that piece of property as rental long term just lean into it. Get him all paid off. And then paid off as quick as you can this is the Dave Ramsey show. Hours today. Proverbs twenty two seven the bar the rituals over the and the borrower is slave to the lender. Rubber says a Bank is a place where they lend you an umbrella in Fairweather and ask for it back when it begins to rain. That's true. And you know, what banks have drive thru tellers, right? So cars can see their real owners. Okay. Bottom ch-. Anyway, there you go. Hey, guys tax time is here. Texas, texas. There's a lot of stuff I'd rather be doing than do taxes. I can just tell you that you tell yourself. I'll do it tomorrow put it off. I don't want to town to being adult. We gotta get it done right now. You don't want this hanging over your head Iris's ninety percent of Americans attack situation that's complicated enough to warrant hiring professional. Don't screw this up. Skip the stress go to an e L P one of our endorsed local providers for taxes we heavily vet these folks, they go through an interview process like anyone else that wants to get hired only one out of five that we interview actually gets fired. The have to be competent to be rock-solid dependent dependable and they're all CPA's or enrolled agents, and they really know their stuff you will save money big time. If you use a pro to your taxes, I sh- crumley recommend it Melissa's with us in Midland town. Texas. Hi, melissa. How are you? I'm doing great. How're you doing deserve? What's up in your world offer me to well? I want to say thank you for what you have done my family eight Charlie grateful to God for what you've done and how you change aren't family tree forever. And my question is we have worked through all of the Davy steps, and we are on baby step seven and the only thing my husband. He used to have life insurance through a previous employers like he change employeers. And so we were wanting to go out and get life insurance that is not through an employer. So if he does change job than we just want something that would stick with us. But we weren't sure how much to do. And we know that you advocate ten to twelve times. But we're word is two point two million dollars. Ily have zero. Debt, and or in our early thirties he makes two hundred and fifty thousand dollars a year. And then you add in bonus of a hundred thousand and then rental property income that puts our household income at four hundred thousand so we weren't sure if we needed to go out and get four million dollars with life insurance start with he's not earning. Four hundred thousand your household income is. And you wouldn't lose all of that. If we lost him God forbid. So the thing is this. It sounds like you possibly yourself insured the way you ask yourself. The question is fairly simple is if something happened to him with no life insurance with the income off of the investments out of the two point two million be enough to take care of you and your family in a reasonable way. With the investments. Create create. That meeting that four one ks intentions like I would immediately have access to that. Or I have to wake you would have to you'd have trouble. Getting a hold of anything that's in the retirement account without paying some taxes on it. Now, if it's in his name, it would become an inherited IRA and there'd be no penalties. But you have taxation on it as it came out. And so the majority of this in 4._0._1._K's. Seven hundred thousand is in for one ks intention from his previous employer, and what is your personal residence worth? It is whereas about three fifty three hundred fifty thousand show, let's say that you had two million dollars not counting your house give or take you do that is that could generate some income. Okay. Now, what do you and the kids and the income wise to live on if something happened to him today, and you did not have his income. We establish 'cause we went through the legacy journey as well. And we established our baseline, but it would be a hundred and fifty thousand dollars will these investments throw off a hundred and fifty thousand. Yes. I'm sorry. Yeah. They would. Okay. Then you'd probably don't need life insurance too. Yes. I guess. The reason for life insurance is to replace his income because the family is dependent upon his income to eat and to live and live their life. And I think that, you know, legislation rough numbers if we said between the investments and the real estate through off ten percent. It's not it may not. But if it threw off ten percent that'd be two hundred thousand a year. And so if throws off eight percent that's one hundred sixty thousand a year and on the whole package, not counting your house. Okay. Because your houses and throwing off in income. But and so if you can live on one hundred fifty you're there, if you wanna buy an extra half million dollars on him as young as he is you can you can pick it up. It just becomes an extra policy laying around. It's just I think I actually have life insurance on me. And there's absolutely ludicrous. There's no need for it at all none whatsoever. But I got a couple, you know, may and the only reason sharing wants S W. Sharon wants. That's the only reason there's no reason for it. But we can afford it. She would rather me by that term policy than buyer. Another diamond. And so she's got a couple million extra in cash just gonna land on her desk. Like, she needs it. She's going to be she'd have gobs of money, you know, should be just fine. But, but, but you know, she just wants it and you can afford it. So if you wanna put a half million like that and just call it Melissa wants it, you know, MWR. That's okay. You know? But when you get up to three million, you probably cancel that. Right. Because you guys are killing it you're doing so good. What's he do for a living? Well in graduate from Amen with petroleum engineering degree and entered into oil gases and eat now to lay up to operations manager killing. Wow, it's wonderful. So proud of y'all. Have done it without you. Because before we met you we had through we had three hundred eighty six thousand dollars and that multiple mortgages student loans and car payment. And so we work those babies vets like he went believe and we'd budget as like, I mean, every actually my husband says everything has a job, and we just that's why is eternally grateful to God for you. And what your team has done. You guys. Are you guys are thirty what thirty years old? Yeah. My husband's thirty three and I'm thirty six and it's two point two million and a hundred percent debt free. Yes. Certainly makes a couple of hundred year he makes to fifty and then. Correct. Bonuses, a hundred grand and then forty thousand rental properties and hopes of getting more rental properties. But we're saving. For that. Yeah. So by the time, you're sixty you guys are gonna be in the twenty million dollar range. Right Cording to excel. Because he I'm cautious. I guess in a little person in the house. So according to those members. Yeah, we should be good. And our kids will be good. If they choose the money correctly the money if they don't treat it according to God's plan. I don't love you guys are credible. So proud of you, very well done. Yeah. But you know, you don't follow that Dave Ramsey for investment advice. Dave ramsey. He's good on getting you out of debt. But I didn't know anything about investments. You're on Twitter. I get that every day some more on their lives in his mother's basement. That's been studying finance. Yeah. You don't want follow the Dave Ramsey for investment advice? You might end up with two point two million dollar net worth thirty three years old. You wanna do that? That would I wouldn't work at all. See the only reason we teach you to get out of debt people. So you do that right there read. There's only reason one reason get out of that. So that you can get control your money and not give it all to somebody else and actually have a life and go build wealth. Of course, we show you how to build wealth better than anybody else with a higher probability of you ending up there than anybody else. But they Ramsey that knowing about it investments. Don't follow his investment advice says the idiot writing bitcoin blog. Oh my God. Puts this hour that I've Ramsey show in the books. We will be back with you before you know, it in the meantime, remember, there's ultimately only one way to financial peace, and that's the wall daily with the prince of peace, Christ Jesus. Hey, it's Kelly associate producer and bone screener for the Dave Ramsey show. If you would like to your debt free scream live on the show. Make sure you Bizet daveramsey dot com slash show, it registered we would love for you to come to Nashville until day. Your story. Hey, guys, if you're looking for real world, leadership and business advice from the top minds in business. Check out our entreleadership podcast. Hey, folks can Coleman. Here would love to have you. Join us weekly as we dive into conversations with the top minds in leadership and take your business questions to help you grow yourself your team and your profits. Don't miss an episode subscribe to entree leadership where you listen to podcasts. Hey, it's James producer of the Dave Ramsey show. This episode is over but check the episode notes for links to products and services you've heard about during this episode. Thanks for listening.

Dave Ramsey Australia 4._0._1._K Texas Ramsey solutions BMW Brent Fannie Mae Greg Melissa VA W. Sharon Queensland Suzanne VA Chris Hogan
Student Loan Payments Just Hit Me Upside the Head (Hour 1)

The Dave Ramsey Show

40:33 min | 1 year ago

Student Loan Payments Just Hit Me Upside the Head (Hour 1)

"The. Live from borders of Ramsey solutions. Broadcasting from the dollar car rental studios bets. The Dave Ramsey show where dad has dogged cash is king, and ate, all mortgage has taken the place of the EM, w as the status symbol of choice. I'm Dave Ramsey, your host. Thank you for joining us. Open phones at triple eight eight to five five two two five. That's triple eight eight to five five two two five. Cathy starts off this hour in Dayton, Ohio. Hi, cathy. Welcome to the Dave Ramsey show. Better than I deserve. What's up? I have a quick question. My husband and I are ninety six thousand dollars in debt and we were wanting to know what it be smart. I've always wanted to move to Florida and I didn't know about your take, if we should pay anything off first and then moved to Florida or if it's okay to get the little ones paid off moved to Florida and the equity make from selling our house move with that. And then with leftover pay the rest of the debt in Florida. We used to vacation there every year growing up, and I've just always considered it home compared to where I'm out here in the cold. Okay. So what's your household income? Our household income right now is about I'm doing a lot of overtime right now. So about seven with overtime about seventy to eighty thousand a year. Should you? You. You're single. No. My husband and I gather. Okay, what do you do for a living? I'm actually medical coder. Okay. What's he do? And he actually works at a grocery store here in town at night. Voka. And so have you looked at the city and jobs in Florida? Actually, I have the option to work from home. So I would be working from home. So I wouldn't have to worry about getting a job 'cause mine would to stay the same. Talking about from home. Yes. Okay. And he hopefully from the equity that we sell would get a job down there in Clearwater, kind of doing the same thing 'cause he does back up management also for them. So. Equity from your sale that doesn't get him a job. No. That's just kind of like a lotta until he gets until yet. So he gets paid. Thing. Okay. I'd like to live in Florida, 'cause it's warmer does not work. On less. You do. So if you go down there and have the exact same home price and the exact same jobs. There's no difference in living in Florida, or living in Dayton, Ohio, except it's warmer. Right. But if you go down there and wander around because you didn't have a freaking plan, and you're acting like a child, you're saying, I've always had a fantasy of living in Florida and you go down there and wander around for about six months and make no money while you're there, because you just moved on impulsive Wim, then you're going to end up like this is a mistake. Right. So if you have a plan where you can at least break, even on your money or come out ahead on your money, not counting the sale of your home because the sale of your home, you could do stay in Ohio. But, but are you gonna make more money at your jobs as a result of being there and or have lower costs as a result of being there? If those are the cases then you're gonna come out head by being there. Plus you get. To live your dream. But if you live your dream in such a way that the math doesn't work, it becomes a nightmare. Does that make sense to you? Yeah. So have a full-on plan that is fully executed. And then make the move, meaning both of you have your incomes lined up and you look at housing prices, and you're either repurchase equal or less there when you sell the house, or your rent there. And but we keep your costs down. But if you go to Florida and make less money and have higher expenses than that was not a wise move while you're ninety six thousand dollars dad is that logical to you. That yet. 'cause mine like I said, my, my wouldn't have to get a job because mine would stay the same. But I'm talking about the overall picture. If your husband goes down there and makes a hundred thousand dollars a year more than he makes now than than, you know, maybe you don't have to work at. All right. I don't care saying net net net when you go to Florida, you need to make more and spend less, and then you go ahead and go now as a no brainer to go and you use a little bit of your equity to cover your move costs and maybe a little while news restaurant. Go to get out of debt or whatever you're gonna do. But yeah, that's how you do it don't but don't go because I'm always wanted to live in Florida and you're planning stops at the end of that sentence. That's what gets folks in trouble. And so good question. Thanks for calling in open phones at triple eight eight to five five two two. That's what Ken Coleman does with the proximity principle book, when he's talking about you getting a job. Everyone talks about these days. You ought to do something that live in your passion. You ought to work in your passion. I completely agree with that. But the sentence doesn't end there while the sentences there. But the concept doesn't end at the end of that sentence work in your passion. Some people when they say I'm gonna work in my passion what they mean is I'm gonna take a pay cut. Because part of working in my passion is not working as much. Well, that's not that's not that's not working in your passion working in your passion. It's fun. And so it's not really work. You're having a blast shut up and go to work. But if you're working in your passionate means, well, I'm gonna go work. The only thing I can do it. My patient is in a nonprofit when I hear that automatically means by cut. That's what you're saying. I'm not saying I'm mad at nonprofits. I'm not mad, a nonprofit support a bunch of them. But the, you know, when you say I'm gonna work in my passion, dot dot dot and here's the plan to make more money as a result of being more creative, and more fired up and carrying more at my job wall. Now, I gotta reason working my passion. I'm very passionate about what I do. But I'm also passionate about making money doing what I do and unashamedly to be successful doing it. And so, you know, if you're live your passion, you ought to make more that ought to be the assumption. So if you say I wanna work in my passion period, at the end of that sentence, you need to continue the next sentence, and continue the thought. So that means I'm gonna make more money. Because I'm in a career that I love I'm creative, and I'm passionate and I'm working harder. I'm working more. I've got fresh ideas all the time, you know, Mondays are awesome Fridays or not. I just love doing what I do. That's that's some working in my passion. But you can't just in there. But some sometimes people say, well, that means you know, I just got laid off. If you put a period, at the end of that sentence, and you stop, you know, most people continue with that means I'm gonna make less at my next job while your job. You got laid off from us. It might be. You're gonna make more money. You've made your life might be God. Just did you favor kicking your butt out of that lame? Oh place. So, you know, this is the way you don't at the end of the that the end of the sentence, the story continues. But if you just stop at the sentence, that's how people walk into nightmares dreams. And that's what we want to be careful of these situations. This is Dave Ramsey show. A recent study showed that over fifty percent of people think that the cost of term life insurance is triple, what it actually costs. This must be why so many people still don't take care of this crucial responsibility. Trust me, term life rates are just plain cheap, and it costs nothing to get a quote, the only place I trust and personal. Use is ender insurance. Call eight hundred three five six forty two eighty two or visit Zander dot com. It's more for 'table than you think, and you need to get this done. That's Zander dot com. Couple of things happening around here, just got word our baby. Steps community. The Ramsey baby steps community, the official Ramsey. Maybe community Facebook, just broke through two hundred thousand members. So thanks for hanging out with us on Facebook. And if you wanna hang out with the official community, the Ramsey baby steps community. We're glad you're weather's great activity in their great threads in their great discussions, and they're a lot of fun. Our team enjoys interacting with all you guys. They're so the Ramsey baby steps community over two hundred thousand second thing is is that in the next few weeks. We'll be doing our last show in this building. We are moving. We built a new headquarters a couple exit south of here and we'll be moving in, in the month of July. And our first broadcast of their is projected to be July the twenty second. And so in the months of August, we won't be doing any debt free screams in the lobby and August. We'll be getting everything Dowd in there in the new place will be doing debt free screams, by phone, of course. Like we always do here on the show, but also you're welcome to come visit beginning August at the new place, and look up, you have got to see it. We put in a whole time line, kind of our museum, if you will will, and it's the bookstore is pretty unique. It's pretty amazing place. So we've got to studios to huge radio TV studios on the glass there on the lobby this one's on the glass in our lobby currently, but a little better situation there, obviously, and looking forward to that seven podcast studios TV studios as well downstairs, and so lot of production facilities there lot of ability for us to get new things out to you guys. And like, for instance, the Ken Coleman show, which is on the Ramsey network on Sirius XM, and is a pod. Cast also just launched on thirty five radio stations across America. Our first radio syndication other than this show. And so he'll be broadcasting from the glass there soon, and I will be looking forward to all of that. So you can be able to see all of us in and out of theirs as we come in and out, like we always do a little more accessible to you guys when you come and visit into our into our lobby, of course, we'll still have the free cookies, and, you know, coffees and all kinds of wonderful stuff for you guys when you're visiting just like we do now. So might plans to come and visit put us on your list. You definitely have a reason to do it now. It's a pretty in addition to just watching me yak, you know, but to pretty fun location and everything and still right here. Just south of Nashville in the Franklin Tennessee area. So, but that on your list and be should've come time by anytime after the first August and just poke around and see what's going on spec. Construction dust still in the month of August, as we finish up things, but that's fine. And we love to have you come down and wandered out and find us. I think we're gonna have it on Google maps, and everything by the end, so you can find it, and it's, it's brand new area, the onion, there's nothing there. But us we're out in the middle of a field. And so it's not have found way to get there. But it's all going to be great. We are really really excited about it. Ben is with us. Been is in Grand Rapids, Michigan. Hi, ben. How are you? Hey, Dave, thanks for taking my call, man. Sure. How can I help? So I was given a truck as a gift that's worth about twenty five grand and. My Granddad did actually. And so he told me that I could sell it or keep it whatever was best for me. And so I was wondering really wanting to do. I have seven thousand dollars from student loan. My wife took out before we had met, and that's the only that I have other than my mortgage about a hundred grand a mortgage. And so I was just wondering what would be the best thing to do? What's your household income? Right now. It's about seventy but they will go up here in just a little while when my wife graduate and start working fulltime as a PA. Oh, great. Yeah. So more than double, then I guess. Wow. So you've been pal to seven thousand dollar debt, very quickly. Right. Right. Yes, sir. Good. Good. Okay. And you have no debt other than your mortgage, and you would pay off seven thousand hundred at very quickly. You'd build your emergency fund very quickly, right? Yes. How old are you guys? I'm twenty three and she's twenty five while congratulations. Well. Curious grandpa heavy at twenty five thousand or truck twentieth sitting around. Yes, sir. He he just retired and he's a multimillion he's he has about I guess ten million. And so he decided about him, Brian. They want any scam. His old one man. That's awesome out like grandpa. He is a very big fan of you a big fan of his. Well, the rule of thumb, I use is can you be outta debt other than your home and do your vehicles? Add up to less than half your annual income and the answer to both of those questions is yes. So I would keep the truck if you like the truck, I showed me like it. Well. Well, I do, but I like having those numbers in my Bank account from being honest with Well, I, I would drive it because you're getting ready to be Meghan hundred fifty two hundred thousand dollars a year household income in the next two years. And you making plenty of money drive at twenty five thousand dollar paid for truck, right? So I would keep it in. You know, you're gonna plenty of money in your Bank account payments. And good news is your guy pays attention to the Bank account. You must be your grandfather's kid. I suspect you pretty proud of you so well, done, sir, I would keep it if I were in your shoes. Charles is on the line in Houston, Texas, high Charles, welcome to the Dave Ramsey show. Hey, how are you better than I deserve? What's up? So I just had a quick question. I just completed my first year at college, which is totally paid for it to, to scholarships and a little bit house, my pants. So I have why was in school. The first year in the summer, I'm working I worked full most and five about six eight thousand dollars by the end of the summer account, and I have already a Roth IRA to my parents. They gave it to me about a year ago. I wanted more of a short term investment strategy. I wanna know your opinion on something I could maybe access five ten years down the road. If I need, you know, money for rent or just emergency fund. I want to know your opinion on that Marci fund should not be invested it should just be parked into a money market account. And if you want to invest this, you know, for three to five years for when you get out of school, buying a house, or something like that down the road, you could just drop that into, I probably just drop it into a no load mutual fund, no commission 'cause you're not going be in there. Very long. And you know you could lose a little bit. You'll make a little to that. That's and you know, if you've got a five year window, which you probably have three to five somewhere in there, you could go with just a simple S, and P five hundred mutual fund on no load and just let it 'cause you're gonna leave it there for fairly short period of time you could do that. Here's what I want you to hear though, Charles. What are you studying cutting business? Analytics and finance wonderful, right? Degree business. Analytics hot subject right now, businesses that are not managing in mining data are not going to exist decade from now. So you are America to you're in a hot field, and you're gonna do very well, so good, good career choice. Good job. So here's the thing, the return on investment. You're studying finance your our return on investment of your education, and you getting out debt free is much higher than a mutual fund. Now I under. Stand, you have scholarships and parents taking care of the balance of your school. But if something were to happen, the insurance policy, that says that Charles graduates with his business analytics and finance, degree one hundred percent debt free is this money were discussing. And in other words, mathematically, you are a better investment that a mutual fund is. And so, I would not tie this money up in a retirement situation. I would not add to Iraq, I would not do that. I would just pile up cash to ensure you graduate and graduate one hundred percent debt free. And I understand this is a backup that you've got primary plan. Okay. But I'm just saying you are the better investment. So I wanna make sure what little you would make on that money into two three years is not worth screwing with it in terms of. You know, you invest eight thousand dollars. It makes ten percent. That's eight hundred bucks. It makes one percent right? Eighty bucks. So you're gonna make eight hundred bucks or eighty bucks. Neither one of those numbers changes your life dude. So if you wanna do a little bit of investing in a mutual fund, that's fine. But I want you to understand the secret sauce in you being wealthy is you you're going to find you're going to great, congratulations. Thank you for joining us. This is the Dave Ramsey show. The last thing I want you to feel is buyer's remorse. The key to avoiding this rookie mistake is to call Churchill mortgage and get certified as a certified home buyer, you are pre underwritten call Churchill mortgage. Triple eight loan two hundred or Churchill, mortgage dot com. This is a paid advertisement. In one five nine one in MLS consumer access dot org. Equal housing lender. Seven sixty one old hickory boulevard, Brentwood, Tennessee three seven zero two seven. In the lobby of Ramsey solutions. Makishi is whether it's high Makita. I'm doing good. Good to have you where do you live? Welcome to Nashville and all the way over here to do a debt free scream. Great cool. And how much are you paying off eight thousand one hundred ninety seven dollars and forty one cents love it. How long did this take sixteen months? Good for you and your range of income during that time sixty five to ninety seven thousand love, it great big bomb there. How'd you get the big threat what a thirty percent rate? Stayed at work, a lie. What do you do for a living? I am a registered nurse in, in home care with medically fragile and technology dependent children in their home. Oh, wow. Do some clinical supervision for nurses students while they're getting their education, very cool. So you get all the work you want. Yeah, pretty good for you. Well done, what kind of debt was the eight thousand eight thousand was twenty three thousand on a car loan and the restless alone. Okay. So fifty five grand in student loans twenty three on a car. How old are you? I'm twenty eight okay. She came out finish your nursing school pasture boards. Yep. Few years and just said, oh, well, I'm okay now. How did you get connected us? What are you up a little bit of background single parent home low income? So mom, definitely stayed on me, as far as getting my dissertation, standing school so coming out of high school, I head from mayor bay scholarship some neat by scholarships and grants and things like that. But I just told a very expensive school in my hometown by university. So just wasn't prepared for what that meant. So we had to add onto that student loans. But, and then I chose my graduate program. Did a little bit better near the face school, bass still took out a loan for that? So for a few years, and when I finished graduate program, my student loans. We're coming back into repayment, minimums, we're gonna hit me over the head, and I was just, like, hey, I don't have that I gotta figure out what I have to do. So I got one YouTube and found a young lady that had paid off our student loans found you, hey, I just I need to get it together. And I have to do this. So I actually had somebody in my favorite. So that was the first thing. And I was like, if I get rid of that. That, like there's no turning back. I have to go and keep going. Very good. Very cool. So the YouTube is where you learned everything about us. Yes. And I checked out on the total money, makeover my library. Okay, read that I read the book. Okay. This the plan is there. I just have to submit to it in Filo it. Wow. Look at you. And so sixteen months later, you just took every job every piece of overtime, just worked your tail end off and threw it all at the debt, and then some how much was in savings that you threw at it eighteen thousand. Okay. That's still. If you're seventy thousand bucks to cash flow in sixteen months, making sixty five up to ninety seven but you made ninety seven most of that time because you were cooking. Yes, exactly. You were getting after it. Why did it go? Well, god. I just cut every expensive I could. Just cut my phone Bill looked into your e L Ps for my insurance to lower that I'm just every could I flashed start eating at home, which was huge. A lot of money when you eat out. And then once I paid my car off. I was able to put that into my snowball inches kept rolling goes fast. Now, very good, cool, does it, how's it feel to have no payments? I dunno just feels different. It's like a way off my shoulders. So now I'm getting ready to say from my first house, and I'm just just excited about the things that are in front of me. So your mom's our hero. Absolutely. I'm shoe. She raised a single mom, she raise you. You come out your get your nursing degree you killed it. You make a hundred thousand dollars a year. You don't have a payment in the world. This ladies rockstar is her to see what anyone was go to her with something she's like, well, what would I say? You're right. Got say focused. No whining after it. Paid off the vehicle in about eight months after that we were actually in Dallas. I was in my car on the way to see you guys at the smart conference. And I got hit in my car was told after paid it off. It was. Yes, it was devastating warm. But I just I can't buy when I can't go back into did. So I'm going to you got the insurance track. Yeah. But I also wonder water that I lost quite a bit of it. When I touch your said you paid at all did. But after I paid it off. It wasn't worth what I paid all. No nowhere near so yeah, I lost a little bit. Okay. But you got what the car was birth? Okay. And then that would able to get another car cash. I see good. Very good. Good for you. Well, done very well done who were your biggest cheerleaders ahead, so many, definitely, my family, my close friends. My mom, Michael. He's here today. A my sorority sisters in the social media, like the debt free community on Instagram in the Dave Ramsey baby steps on Facebook. There's so many of us just keep any other encouraged and giving where it's back and forth, you know, bouncing ideas. So you're the social media presences there cheese you to get into the community. Well, done very well done. What do you tell people to secret is when you're getting out of debt, if somebody says, hey, I want to do what you did what you tell them to do a few. I think my biggest we'll couple of was definitely the budget. Like you have to look at what's coming in at the beginning of the month and you have to know what's going out checking in with the budget every single week, not just get into the end of the month. Like 'cause I do that. I'll be I don't know where it went every week. You have to take definitely having a reason why bigger than just day set so mukisa did it having a reason why I'm really connecting with what the freedom will mean. What's your why definitely my mom and my family just turned in? Honestly, finding that generational poverty into generational wealth. Touchdown. I love it. Absolutely love. And then if I do have kids when they hopefully, you know, sit in college without having to worry about that student. Absolutely. You will you'll be wealthy. Accountability village in having people that are like minded because a lot of people that just kept telling me to keep going like you got this. And then when I did it, it was amazing. What's she doing, courage you, because you look like you're gonna do it? You sound like you're gonna do it. You're walking like your fire. Like, yes, there's no question she's going. That's good. Good for you. Well, you got the stuff ghetto here rockstar, very well done, proud of you. You got a copy of it. We're gonna give you a copy of Chris Hogan's book, every day, millionaires signed by him because that's the next chapter in your story for sure you're going to be an everyday may in our next. And that's the purpose getting out of debt, and she got a big wide. Like you said, you break the curse off of a family. You break, you change your family, tree. You change that with investing and managing and generosity and all of those things, that's, that's what it all stars together. Make some really good Gumbo. Well done proud of you. Mckay. Very cool from Waco, Texas eighty eight thousand dollars paid off in sixteen months, making sixty five ninety seven counted down. Let's hear a debt free scream three to one. Well done well, done well done weld on man. That's absolutely fabulous. Open phones at triple eight eight to five five two two five you jump in. We'll talk about your life and your money. It is a free call anywhere in North America. Well, she said it she said, I checked out the total money makeover at my library. You can do that. Or if you want one their own sale right now for only fifteen ninety nine at daveramsey dot com. About seven million people. Now purchase that book. And I think a lot of them actually read it after they purchased it. It's a difference. You know what I mean? Oh, yeah. The seven baby steps are laid out in there in great detail, and it gets to the heart of your money problems. You. The problem is you. That's the bad news. The good news is the solution. Is you. I love that. You have the dignity of winning in this process. You have the dignity of choosing different habits choosing different behaviors choosing different activities because the ones you're doing suck. If what you're doing has given you the results you're getting and you don't like it. It's time to change. Go online at daveramsey dot com, pick up the total money, makeover right now. It's only fifteen ninety nine or call Ramsey concierge at triple eight twenty two peace. Triple eight two two seven three two two three. Stay in Pittsburgh. Hey Steve, welcome to the Dave Ramsey show. Great talk you to how can I help, sir? Some curling basis to, I got wants to my wife and I both and to have five thousand left on a student loan. But look, I should just told me David swinson twins. Leave me. So I'm kinda kinda pickle here. I don't know the next steps it, this is just totally blindsided. And I try to hold myself together here and it's easy. So how long have you guys been married? Well, get seventeen dating fifteen years, fifteen years. Nerd for nine we're very tenure are fifteen. They university in Kenya wedding anniversary this this year, but healthy. Make. What, what's that? What happened to the marriage? You know. Since since the young, we just we grew up together, we just kind of our, I guess interested. Gone became different. It's I'm I'm, I'm in shock. But from what she's telling me, you know, I guess it's one of the things that we kinda grew part. And again, I'm still I'm I just I didn't feel but she's the one that said we did. And I, I don't know what to do. Okay, how old are you? Thirty. I'm guessing you're not a part of a good local church. Well, I actually reached this happened on Monday and every shout much yesterday. And I talking to them I try try again. All the pastor, I couldn't get hold of him. But it is something that thought to them later in the week this week here. Okay. That's good move. The, if the two of you can sit down the good pastoral counseling on marriage on, you know, you take a shot at saving this. So I think that's what you work on right now. Steve, you've only got five thousand dollars in debt and you said, right? And that's your student loan in your name or hers. It's in my name there, there's no other debt in the house. Correct. The mortgage, the own home will yes. Okay. And how much do you make? Hi. Make forty two. And how much does she make? She makes closer to what she do. She's a she's in there. Okay. Children. To teach kids eight and almost six. All right. Yeah. I think ninety eight percent of your energy is working aggressively to see if there's any kind of saving the situation. That's your first thing, the as far as the money parts go. You don't have a lot of dad, and, you know, you can work your way through that debt making forty two or making one hundred twenty two depending on what it is that it's doable. You'll end up with your student loan, if a divorce occurs and the house will be split if divorce occurs typically and most situations like this. And so that means it's going to be sold, and there's going to be, you know, whatever equities there is going to be handed to each of you. I would not I do not recommend in the event of divorces. Matter of fact, I strongly recommend against it that one of you stay in the house, and the other one stay on the mortgage. If you're gonna out of either gonna keep the house, it needs to be refinanced and get the other morning off. The mortgage. So, don't you quit claim the house to her and give her your half and the new stay on the mortgage? Don't you dare do that? That'll bite you later on. If this comes down to that, hopefully, it won't, hopefully you guys can turn this around. I'm sorry. I know you're back on your heels. And you've been punched in the face with us news and trying to figure out what to do understand. But I don't think the financial part friend of mine that does divorce counseling says a divorced turns of marriage into a business transaction. And so what that means is splitting up the math after that. Yeah. There's all the emotion in the heartbreak in the hurt and the anger and everything else that goes with it. But the, the math the finances of a divorce are just a business transaction. It's just simple. You know addition subtraction division, long division what amounts to. Sorry, sorry facing that Joe is, whether it's Joe's in Columbia South Carolina. Hi, joe. How are you? Well, hey, thanks for taking my call. Appreciate what you do quick, quick question on long-term disability life insurance currently in step on step. Number two, I have a medical condition. So it's a little bit more expensive for me to get long-term disability life insurance. Currently, right now, I have six thousand a month three work on long term. And I have a supplemental policy of twenty four hundred and fifty dollars a month. It cost me about one hundred fifty dollars a month for that policy. It's a five here. What do you make about one hundred forty? All right. And then and then I also for my life insurance. I got the max at work for three hundred K, and then an additional three hundred K outside of my work policy is about one hundred twenty month. So I know below the ten to twelve times my income but with it being so expensive. I just don't know what, what level I should be at this point, then you just have to gauge that, you know, how much monthly pain, do you, do you wanna take so that you can get? You know, so that you can get coverage. And at some point reaches a point you just go. Well, we're just not going to have enough coverage because it's just too stupid, you know. And you just gotta look at that. What's the nature of your medical condition? I have mitral prolapse that I had a foul repair open, heart, surgery in two thousand fifteen okay? Yeah. Out. So have you have you talked to Zander to get a quote through them? Yeah. So I'm actually waiting on medical records for my cardiologists right now to see what, what they're, they're willing to offer the disability, I wasn't able to get anything better through Zan. You wouldn't just disabilities, very reasonable situation. So that, that's thanks to just get a quote on it, and look at it. And then you just kind of make a gauge to want to, you know how much do I wanna put on this? And how much of my phone come do I wanna replace? And of course, the more wealth, you have, and the less debt, you have the less need you have for life insurance. And so if you're making one hundred and forty and you've got a million dollars mutual funds than your need for life insurance is largely going away. Right. So how much is in your 4._0._1._K? The right now I only have about fifty kids in my retirement, and I've stop all contribution syndrome on step. Two. Good. Okay. So you're working your way through debt that's perfect for you. Very well done. Okay. How old are you? Forty. Okay. All right. And does your wife work outside the home? She does not know. Okay. The that makes it that much more of a reason to do this. But, but again, you just gotta balance it out, and go, well, Honey, if something happened to us, you're not gonna live on one forty you're gonna be living on more like eighty. Because that's all the coverage we can get choked down the premiums, right? Otherwise, we're gonna be in debt the rest of our lives because all we're doing paying life insurance premiums. But you're doing the right thing continue to poke around the business and as your medical history ages meaning distance from the operation distance from the open heart surgery, when it's twenty years later, rather than five years later does make a huge difference. So even if this go round, if it doesn't work in three to five years, step up and try it again. We'll do because that'll get you there eventually and by then, though, you may have less need for it. That's what you're after. So, hey, good question, man. Thanks for the call appreciate you. Joining us. Folks, always get in touch with zanderinsurance zanderinsurance dot com. And just call them over there. I mean you can you can stuff online, but were, you've got a special case like that they can run what's called up dry app. Meaning fell out everything, but you don't pay for anything until you get the actual quote back and they can run a full application and it's not a guest, then it's an actual quote, which it sounds like that's probably what he's doing in this case. So over to get some good life insurance quotes. And if you've got a special medical situation, talked to you'd be amazed as what you can get coverage on now that, that ten years ago, you could insurance businesses come on way, and who they're willing to cover got a lot of switch to help you find possible carrier. They, they represent a gazillion, different companies. This is that I've Ramsey show. This is James Childs producer of the Dave Ramsey show. Once again, you made the Dave Ramsey show. One of the top five most downloaded podcast last year to get your daily dose of motivation and inspiration subscribed day. Make more money doing what you love checkout. Christie rights business boutique podcast, Christie's inspiring, and in quipping women to become successful running their own business hand, Christy Wright, and I help women all over the country, take their ideas and passions and hobbies and turn them into profitable business. If you have an idea in your head or dreaming, your heart, and you've ever wondered if you could make money doing it, I'm here to help. Join us on the business podcast where we are equipping women to make money doing what they love. She described at Christie rights business boutique podcast, wherever you listen to podcasts. Hey, it's James producer of the Dave Ramsey show. This episode is over. But check the episode notes for links to products and services. You've heard about during this episode. Thanks for listening.

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Living With Your Parents Is Not a Long-Term Play (Hour 1)

The Dave Ramsey Show

40:47 min | 1 year ago

Living With Your Parents Is Not a Long-Term Play (Hour 1)

"They <music> live from the headquarters of ramsey solutions broadcasting from dollar car rental studios. It's the dave ramsey show show where debt is dumb cash is king and the paid off home mortgage has taken the place of the b._m._w. As the status symbol of choice i'm dave ramsey your host. Thank you for joining us. America open phones at triple eight eight two five five two two five. That's triple eight eight two five five two to five starting off. This hour is going to be peter in texas. Hi peter welcome to the dave ramsey show dave. How are you better than i deserve. What's up all right. My wife is making me call. She <hes> she didn't quite see what i see and maybe you can shine some light on me. If i'm wrong. <hes> we have <hes> a rental houses paid off after our house of course <hes> what i would like to do is sell them rental house. Whatever profit we walk away with split. It in half us have to buy another foreclosure like we did last time. Turn that back into a rental and then use the other half investments to then take out investments of growth to feed our roth. I._r._a.'s <hes> where are where's the bad in that situation other than taxes at that point so it's a foregone conclusion. Both of you are selling saying sell the rental. The only question is what to do with the proceeds. No no no. She didn't necessarily want to sell it oh but okay so she likes the rental just said it's sitting there paid for your home is your home is paid off. You're a hundred percent debt free. Yes sir awesome way to go. Gosh is well. These are these are great problems to have okay so one option is keep the rental and let the cash flow cash flow and because she likes the rental the other option is you want to sell it and take half of it and by another rental foreclosure deal and then invest the other portion in mutual funds inch yes sir to feed <hes> do our yearly contributions into her raw and my roth i._r._a. Okay either one is fine. Neither one is dom both are investing and both one staying invested in property that you think is a good property and the other one one. Is you know taking the money getting a good deal on something and investing <hes> conceptually you could cash flow the roth the roths as easily easily out of the existing rental as you could out of mutual funds reinvested and that is true and that's what we're doing <hes> but we've we've seen a few houses come up that man that could be a really good deal <hes> but without the capital in hand to go buy it. It's not as good a deal uh-huh anymore because you wanna go into debt. So what's your household income just under a hundred okay well funding. Your roths does not not solve the the itch that you just told me you had other than you'd have some money sitting there <hes> outta by the next foreclosure. That's the part that would scratch that edge. I see okay <hes> well. Capital gains on that if we bit capital gains on your rental when you sell it yeah right right menu appreciating it known that for how long i assume you write it off on your taxes with depreciation schedule right well. That's what the c._p._a. Does yeah yeah how long <hes> two and a half years okay so you're adjusted basis as down a little from that depreciation dropping down and your your gain will be the difference in what it sells. I four minus. <hes> you know minus what you paid for him basically minus minus depreciation so you'd have fifteen percent gain on all of that <hes> fifteen percent tax on all that capital gain. I i'm okay either way. I probably i mean there's not a right or wrong long answer so no i'm not i can't blow the whistle say both of either whenever he's out of bounce we would do either one at the ramsey household and be fine with it. <hes> my tendency would probably only be personally if the rental is a good property. I'm just going to lean in and not even more about the roth i._r._a. Part of your debt free hundred percent. I'm just gonna start piling up cash over here in a good <hes> like an index fund which is what i've done out of the cash flows an out of out of the cash flows from the rental in one hundred thousand and build me up a real estate fund to buy something with and not have to sell the rental to cause that to happen. I would just build it up over there in an index fund and they will then have another rental and then do it again and then do it again. That's what i personally have done and i'm with you and doing that. It just seems like <hes>. I'm trying to push the accelerator a little faster than she he is. Yeah i mean you know your your and you got a lot more hassle factor in a little more unknowns <hes>. It's not quite a slow and steady. She's a more slow steadier more of a player. <hes> seemed like personality. That's okay. Neither one of those are wrong because neither one of them are leading you to you know the slow and steady can lead you to do nothing which is stupid right and the player can lead you to being rash and playing the roulette wheel in vegas. You know which is stupid or bitcoin or something dumb like that you know but instead you're either. One of these are solid investment strategies so i can't i can't i can't blow the whistle and throw the flag peter. Sorry i can't help you <hes>. I'm probably personally gonna do what she's doing but that's more of a personality thing then at an end. It is what i have personally done. I personally bought a rental data pay cash for i used my personal income to build up more in the rental income a bit more than i bought another one and then built bought another one and everytime i bought another one i had more rental income with no payments and i was able to snowball in a positive way my my pay purchase of paid for cash rentals and that's how i built my real estate portfolio. It's all of course been paid for from day one so good question interesting acting discussion. Thank you for joining us open phones at triple eight eight. Two five five two two five gabe is with us in minnesota minnesota. Hi gabe how are you. I'm good survey you better than i deserve. What's up good say so. I have just recently sold my condo rondo. <hes> and i'm gonna be walking away with about forty thousand dollars in capital gains <hes> for the time being moving back into my parents placed waist which is a great you know kind of resting point in between places <hes> kind of you know. I'm i'm looking to you know obviously not stay permanently at mom and dad's but <hes> <hes> is it better to you know stay at mom and dad's for as long as i can and stockpile cash and then invested in the next place or just you know go straight to the next place uh-huh. How old are you twenty four. Oh cool and what do you make a year. I make about seventy thousand a year good for you. What do you do yeah. I'm a drafter architecture firm drafter and designer okay cool <hes> i wouldn't say mom and dad's in your situation more than ninety days more than ninety days ninety okay yeah and here's the here's the reason the cash benefit of having having no rent and no overhead and mom does your dry cleaning. I mean mom does your laundry for you. <hes> the cash benefit of all of that is a wonderful <hes> what lose though is the developmental portion of you moving the rest of the way into adulthood and the dignity of you standing on your own and the the dignity of you taking a machete and making your way through the jungle my man. There's there's good that comes from that that ends up being in your back pocket in your wallet overtime and because we're increasing your manhood but i stay there for a little while but now it's not a math play to sit in mommies basement pile up cash. That's not a map play not long term. It's okay as an emergency. It's okay as an interim but we're not gonna be harsh about it but long term. It's not gonna play this. Is that ramzan. A recent study showed that over fifty percent of people think that the cost of term arm life insurance is triple what it actually costs. This must be why so many people still don't take care of this crucial responsibility. Trust me term in life rates are just plain cheap and it costs nothing to get a quote. The only place i trust and personal use is zander insurance call eight hundred three five six forty two eighty two or visit zander dot com. It's more affordable than you think and you need to get this done. That's zander dot com <music>. Welcome back to the dave ramsey show. It's common sense for your dollars and cents. This is the dave ramsey show. We're glad you're with us. Open phones at triple relate eight to five five to five up next is going to be hosanna in north carolina. Hey hosanna what's up hi. How are you better than i deserve. How can i help okay <hes>. I have a traditional i._r._a. And i was wondering if i should do a roth i._r._a. To an age or not you should only do a roth i._r._a. At your age are you there okay. Can you hear me okay yeah. I can hear you okay. You should only do a roth from this point forward. I wouldn't convert your traditional indoor. Roth until you're out of debt and have some extra money but your future i._r._a.'s you can only do one or the the other <hes> in a given year your future i._r._a. Should all be roth. I._r._a.'s and the reason is the vast majority of what is in your account when and you get to retirement will be growth. It will not be what you have put in okay so if you do six thousand dollars a year. How old are you twenty. Oh okay and we did that till sixty five <hes> that'd be forty five years. Okay you have put in two hundred and seventy thousand dollars that that account if it's invested in good mutual funds will have grown to about two and a half million to two million three hundred thousand something like that okay and so if you have two million three hundred thousand you put in three hundred thousand the other two million is all growth you want that growth to be one hundred percent tax free which is what the roth is. If it's in a traditional. It's all going to be taxed so the difference in our discussion with you starting as young. There's your straightening particularly poignant is. Do you want to pay taxes on two million dollars or not if you don't put it in a roth if you do want to pay taxes on two million dollars which would make you weird then you'd put that into traditional so you always are going to do roth the younger you are the more the numbers skew in your favor it you you gotta get up above sixty years old before it starts even being a discussion about which wanted to do and when you're gonna pull the money out and so forth but prior to that it's all going to be growth. The vast majority of your accounts going to be growth and the fact that it's tax free growth is a big hairy deal. Anthony is with us in california california. Hi anthony welcome to the dave ramsey show but thanks for taking my call really appreciate it sure what's up. <hes> just give you a little background on thirty two years old and my wife is twenty nine. We both have two kids. <hes> we are thinking about moving from california to texas <hes>. We're just not about oh california anymore. <hes> a little bit of background <hes> we both have to <hes> car loans <hes> but the thing to you and your show <hes> i'm. I'm selling my truck. I'm going to buy you know for cash out of pocket just to kind of live below our means a little bit but <hes> i just had a question wanting to know so if we're trying to buy our own home i have <hes> some money saved up for a good down payment and also <hes> emergency fund. I have no oh credit card debt my wife <hes> does have about five thousand dollars in student loan debt <hes> but she has no credit card debt so i'm just wondering you know if it's a good idea to <hes> you know move right away even though she does have five thousand dollars student loan debt. We're really trying to get out as soon as possible. And how much money do you have saved. <hes> around. Fifty thousand dollars saved up fifty thousand dollars saved up yeah. What does it cost to move to texas. <hes> i mean in order to you know <hes> put a good money. <hes> a good portion down down and ask about buying a house in texas. I said moved to texas. What is it gonna take for us to move to texas. Yeah money was five grand. No i mean not not even and that much. I mean we show what do you do for living <hes> work for the city that i live in a city sarah okay so have you got a job lined up in texas <hes> and that was the other question see. I'm gonna be you know leaving a good job and everything like that and so i mean the job. I don't think we'll be a problem but i'm just worried about the long long run. I'm going to be giving good retirement. <hes> and everything like that just move so i was going to ask you about what way to start. I wouldn't stay miserable because of the benefits package of my job yeah. That's a bad idea so let's move to texas but let's do it. Wisely wisely sounds like this number number one. Go get a job in texas number. Two <hes> set aside the moving expenses and pay off all your debts and you move to texas one hundred percent debt free and you have an emergency fund of three to six months of expenses sounds to me like then you start saving your down payment lawyer all your rental property in texas. Do you own a home in california. No okay all right. And how much do you guys have total <hes> five thousand how much on the stupid cars <hes> <noise> i mean my truck is a stupid expense. That's generated in her article. I mean we have two kids. Gotta have someone you owe on your cars. <hes> on her car is fourteen thousand and then just there's five thousand student loan debt and how much on your truck my truck would be twenty thousand okay all right and so if you you write a check for fourteen and pay off her car you write a check for five and you show your truck. <hes> you gave up nineteen thousand of your fifty thousand that would leave us thirty one thousand dollars minus five thousand move leaves us twenty six thousand dollars which is probably enough to buy you a six or eight thousand dollars truck and still have an emergency fund fully funded you rent for a year while you build up your down payment and then you purchase in iran for your in texas and then you purchase after that with your downpayment built up meanwhile. You're one hundred percent debt free. You've got emergency fund fully funded and you have a job all before you move and then you pull the trigger and move dude yeah of course course but the the the feel how clean the sounds you have zero debt when you move. It was six thousand six thousand dollar truck. It's paid for her cars. Paid for student loans paid for and you have twenty six thousand dollars in your emergency fund of as your three to six months of expenses and you've got five thousand dollars for moving expenses commences. Life is really clean here. Does that make sense yeah. No i would not tell you to buy a house unless you're debt free and have your emergency fund in place. I i am by the time we do all of those. You don't have a down payment left and so that's how i would do that so yeah good question but that's you know that's how how i'm gonna apply the baby steps and apply the stuff that we teach around here that we would tell you i do want to get a house in texas and then we wanna move the taxes because it's what you wanna do <hes> but i want you to do it. In a way this wise and you've got the money thank goodness to do all of these things. You're in really good shape. You've done a good job with saving. You just hadn't watched what you were doing with car. Purchases actresses and you know look sloppy. There's all but you can clean it up. I thanks for the call open phones at triple eight eight to five five to five samantha's on facebook at daveramsey which is about goodness gracious by five million of your something like that on facebook nowadays <hes> where does paying an i._r._s. Debt come into the steps. Well it would come in at baby. Step two when you're paying off all your debts except your home listing your debts smallest to largest paying minimum minimum payments on everything but the little one and attacking the little one with a vengeance and the i._r._s. Unless it is a massive i._r._s. Debt would go at the top of that list. We would cheat it to the top regardless of the size so you're the i._r._s. Five grand or ten grand or something like that and <hes> you make fifty to one hundred thousand dollars i._r._s. Goes at the the top of your debt snowball. You do not want to the k._g._b. I mean the i._r._s. Money the penalties are high have almost unlimited power. The interest is i everything about this transaction stressful high and loss of power in your life. You want them out of your life. As fast as you can and you want to be sure you figure out exactly exactly how you ended up owing them and you never repeat those steps again oath that helps this. This is the dave ramsey show <music>. Did you know july and august are win. The most burglaries occur if you don't have home security do you need simply safe. Simply safe protects every door window and room with twenty four seven professional monitoring plus simplisafe's video. Oh verification technology can visually confirm break ins allowing police to get to the scene three point five times faster right now. Get a free h._d. Security camera when you order at simplisafe dot com slash ramsey. That's simplisafe dot com slash ramsey <music> well. This is a big deal our very first debt free scream and in the lobby of the new building on the new debt free scream stage. Wow that's a big deal and jamie hill one of our jamie macy hill one of our team members here <hes> we thought one of our team members should do that first debt free scream in the lobby of the new building. It's a really big deal. You guys are really big deal. Thank you china's honey. It's a shiny age really is. It's pretty incredible so well. Congratulations you guys so let's do the thing. How much debt have you paid off. If we paid off ninety six thousand five hundred dollars wow and how long did this take took eight months eight months and you got and you have been with us a a little over a year. Is there a year in may okay so about fifteen months or so and <hes> you're one of our customer service advisors over and financial wellness where we work with smart dollar with companies all over america teaching them the stuff. We teach as an h._r. Benefit so you're talking to companies every day. Every day is there. He's in there tonight. You could tell your <unk> own story. That have been told that anyway right. I have yeah awesome and so. Where did you guys <hes> where you from here before the fifteen months ago. Where were you before yeah so we moved from youngstown ohio <hes> <hes> but i'm originally from west virginia. She's from louisiana louisiana louisiana. Aren't we were up there right after college for a job and <hes> so ninety six thousand dollars in debt and eight months a month. That's that's wicked crazy right there. That's nuts. It's kind of what kind of debt was this well. Eighty five thousand of it was a house. Oh okay yeah. That's helpful sold the house. Obviously the house actually took a loss on the house and that was where that was in youngstown. Okay all right yeah we <hes> we bought a house with zero percent down your money in the bank. It turns out. It's not a great idea. You got hammered yeah yeah and then we sold it a year later and wash money. Oh yeah of course yeah so real estate. It's always a good investment. Everybody knows is that right always situation really now. We definitely have done that better and we'll do it better this time. Well you know well congratulations and you guys. Were very very proud of you. Tells your story what happened got you started on this whole thing yeah well in january two thousand eighteen <hes> i was in in my basement fixing my hot water heater course northeast ohio very cold listening to a show dave ramsey show and <hes> you were you said <hes>. Stop stop what you were doing. Look at where you're at and your life. Are you happy with it. Of course i was freezing didn't have any water and i was wet. Working water tank in south lebanon not happy. He threw a wrench across the room. No blanketing mike. I'm not happy we won't own words but yes. You're right and i said man no. I'm not and you were like you have the power to change. That might take a little time. I take a degree. I take a move but you can do it. I thought man he's right. Yeah i can and then you just had a plug for the available positions at the company. Oh wow yeah and so i think you're ken coleman that our and so i was joking with say a new day siren. That'd be fun right. You should apply here we are but this is how you end up in tennessee from youngstown. That's it right yeah. Wow we decided to get debt free there in january that week. We're like we're doing this and radha christmas. We just spent a bunch of money on amazon and so to fund our baby step one. We returned everything that amazon would let us return. Oh wow yeah so that are fast on a thousand dollars players and then from that point on we were coasting <hes> we had to move and when we moved we had a house payment and rent i five months. Oh yeah and so are extra jobs. Were just making enough to keep that up and then <hes> once we sold the house that's when we started hammering the debt right yeah okay so mostly. What do you do for a living. I'm a stay at home mom now okay. What were you doing. During this get out of that time. I was delivering groceries with shipped. Oh wow okay wow so. What were your best part time. Jobs are most lucrative part-time jobs. Well we work in nashville. We live in beautiful city a lot of tourists and so i was a lift with nubrik driver for the weeknights and every night on friday night all the night through and most of the day on saturday l. pretty lucrative working for lifting after newburgh actually enjoyed that too yeah yeah and you're getting your career here started so yeah as sales guy takes a little while to get the pipeline full starting to build. I'm sure yeah and good stuff. Starting to happen happened there. So fifteen months later here you stand are eight months later from the debt but fifteen months from the whole water heater thing and all that stuff yeah wow well congratulations congratulations you guys who were your biggest cheerleaders. I know you've got them all around you that work with you everywhere. Yes aside from our team. Where your biggest cheerleaders honestly it. It was each other come home every night late at night after work in a couple of different jobs and we just dreamed about our future and you know what could be and what it would be once we were done with the with that awful stretch of you know working that hard and i'm not spending any money for fun or food houses gone. All the debt is gone. <hes> got the new job in the new town. You're set. How's it feel. It's yeah it's hard to describe so bit of a long trip from the hot water heater in the basement little bit and yet and yet it was a fairly short trip. I mean and the scope of your life. It's eighteen months. Fifteen months is not. I mean it's not that big thing as a part of your whole life yeah but <hes> i'm well how well congratulations you very well done. No you've got a lot of family and friends with your cheering you on. I know your team is here. Cheering you on so we gotta lobby full of people. You got a lot of fans today yeah and they were our next biggest fans. I couldn't come to work and not be encouraged. Yeah yeah they are always asking me how going and is awesome to work work with this kind of motivation every day. Yeah absolutely very cool. You guys were very very proud of you all right from our own team our very first i a debt free scream right here in the lobby of ramsey solutions new headquarters on the debt free stage okay now who's joining s. here. This is zoe and how old is zoe. Zoe is ten weeks. Oh my gosh wow they stayed a little out. Ahead ten kept growing up one in cars. They don't sleep at this. I heard the rumor grandpa. Papa dave knows that part too well well done. You guys all right here. We go jamie and macy hill from our customer service team. In financial wellness ninety six thousand dollars paid off in eight months and that includes a sale of the house counted down. Let's hear a debt free scream three two well done. Well all done you know. Isn't it interesting way to go. You guys were so proud of y'all. We got a copy of chris hogan's book for you probably already got one every day millionaires. That's the next stage in your story in. The next chapter in your story is an interesting when you have that moment. Maybe you're about to have one right now. Maybe you're listening to their story and you went. You know what i'd do have control over my destiny. I can make decisions differently. I can decide to even undo some of the stupid things i have done. I could sell the truck. I can move. I can take a different job. I get to control the controllables. You have that dignity as a human you you have that right as a human you get to choose to control the vast majority of what happens in your life now. There's some things things that happen to us and sometimes there's meaner nasty people and sometimes there's things you don't see coming but those things we we can't control those but if you'll just control the controllables just control the decisions you have the dignity to decide about the rest of your line that water heater moment. That's great picture and we all had that moment. Were like standing in the cold. Something's broken and you go. I'm i'm added added added. I'm changing this. That's what jamie and may she did prouty guys. This is the dave ramsey show <music> <music> <music>. David is in florida. Welcome the dave ramsey show david. Hey dave how you doing better than i deserve. How can i help hey so i wanted to call and ask you about your advice. When it comes to approaching our student loan payments right now for my wife and i and <hes> we're doing. We're doing baby step number two which is snowballing our debt and it's it's working well the mindset we're able to do it but there's some unforeseen expenses will come up to the point where our minimum payments for student loans can be a little backbreaking breaking and i know it's never a good idea to go into more debt to help. Pay them off or anything. I wanted to ask your advice on how to best go about these amounts to where we aren't losing out every month on our minimum payment and not being able to snowball the rest. What's your minimum payment. It's about four hundred dollars. What's your household. Income combined is about seventy thousand okay and your <hes> total student loan debt balances altogether as what a little over thirty thousand okay and your interest rate is what on those loans <hes> average of four point six percent okay <hes> the only thing you would gain by refinancing. It'd be recasting the loans and making you stay in debt longer right and and <hes> and you probably would go up and interest rate to do that because you have a fabulous interest rate. It's pretty good. I'm the only reason the only reason not tell people to refinance is to get a lower interest rate or to get to a fixed rate if they have a variable and that's only on student loans <hes> and so it. It sounds like more than anything else. We've just got some budget items. How much do you owe on your cars. We have one car and it's paid off okay and and <hes> how much is your house payment or your rent. <hes> twelve fifty a month and that really good for the area. We're in those the cheapest we could find. And what area are you in. We're in fort lauderdale florida okay and <hes> how much is coming out of your check for <hes> 4._0._1._k.'s 4._0._1._k.'s at the moment none and how much of a tax refunded you'll get last year. <hes> what we're we were unemployed part of the year so i think it was about twenty two hundred 'cause with a twelve fifty rent and no car payment and only a four hundred dollar student loan making seventy thousand. You shouldn't be tight. We have a couple other credit cards that were paying as well so what's the balances on those <hes> combined for about <hes> six point five thousand. Maybe a little less and that's the cross that's across about five or six different cards okay but somebody making seventy thousand dollars years typically paying off thirty six thousand five hundred dollars in debt in two years <hes>. That's not barely making a four hundred dollar payment. That's <hes>. I'm like fifteen hundred bucks a month going on these stats so i don't know where your money's going are you doing. You're doing the written budget. I assume <hes> <hes> yes we are. I can't tell where your money's going because there should be money left in this equation. It's not going on k. You're not not got too much coming out for taxes. You've not got a bunch of other payments. You've only got thirty six thousand five hundred dollars in debt and student loans and credit cards and you have a fairly early reasonable house payment. It's not gray our house rent. It's not great on your income but it's not horrible. It's not killing you and so when down your budget. I don't know where all your money's going yeah <hes> to to be honest. I feel like it. It does go to random expenses that pop up like last month we accidentally <hes> rear ended <hes> our neighbor's car while backing up and i set us back a bit and <hes> you know stuff like that having to fix certain things around the apartment. I'm in <hes> on. It's not really our our bill. That's <hes> landlords different things like medical bills and stuff like that that are coming up it. It can be a little hard when also paying the student loan bill. <hes> especially with insurance insurance is that we're paying though is is that people living a normal life doing their debt-free screams on this show and that we do coaching with with a thousand twelve hundred dollars grant making seventy thousand dollars a year are paying off the amount of debt that you have in two years and he's thirty six thousand of out about to his eighteen hundred and that's fifteen hundred dollars a month and you're struggling with a four four hundred dollar payment so that tells me a thousand dollar swing in your budget that i can't find. That's what i'm telling you other apple or doing what you're doing doing so much better than you're doing. It and that's what i was trying to help you with i can't i don't know where it's going. I think you need to get on that every dollar budget and you and your wife need to stay out of restaurants and and you don't need to be talking about a vacation and there's no luxuries in this budget at scorched earth and <hes> now refinancing student loans is not your problem you do not need. You're going to go up and interest rate and stay in debt longer and you will have addressed the symptom not the problem. The problem is we can't find a thousand dollars in your budget right now. That's lost and i want you to get in there and find it and scorched earth your budget meaning no life. You have no life to clean this mess up. That's what i mean but scorched earth. Joy is is with us in south carolina hi joy. How are you hi sir nice to talk to you you to how can i help. I need to know whether or not to go ahead and pay off my house. <hes> i have the money to do so but it's all the money i have ouch how much you on your house hundred and ten thousand one hundred ten thousand only <hes> well. I have one hundred and fifteen plus my fifteen in two thousand dollars emergency fund and no other than the house. How old are you sixty four. Are you retired and i'm retired your retire. What do you live on <hes> pension and retirement military retirement v._a. So security up to about forty three hundred a month. Thank you for your service. Thank you and your shingle. Yes okay all right so you're not pulling any money off of the hundred and ten thousand investment are are you know so really how much is your house payment <hes> twelve hundred a month but i paint but i'm paying two thousand a month. I've actually gotten a year ahead. I bought it two years ago okay. Let's pretend for a second. Let's let's pretend you didn't have a house payment and you put two thousand dollars a month aside in savings k. right and one year you'd have twenty four thousand in two years you'd have fifty thousand right and three years seventy five and in four years one hundred and you'd be in sixty nine and all through that time you would have had a paid for house. I'd rather do that than what you're doing. Well i agree <hes> but again. I didn't know at the time this is three years ago two and a half years ago i didn't know i'm just saying you got two choices today. Choice number one is do what you're doing today and that's two thousand dollars a month and you'll be done in about four years or we can put be debt that free today and rebuild one hundred ten in four years right and that's what i saw it because i checked with my tax lady and she looked at the cost basis something or the other and she says the tax implications are minimal because my investments are not very good the tax implications yeah yeah because there's not you won't yes. I would pay off your house. Okay the reason i would do it. I don't like using up almost your last nickel to do it. I'm with you on that but the reason i would do it as you're already proving that you have the discipline to put two thousand a month aside and it'll be even easier when you don't have a house payment and you'll be you'll rebuild this because that's who you are joy from south carolina. That's just kind of person. You are very well done very well. Done wow puts this hour of the dave ramsey show in the books our thanks to james childs our producer so it daniel our associate producer and the phone screener. I am dave ramsey. Your host and we'll be back aw hey it's kelly associate producer and phone screener for the dave ramsey show. If you'd like to your debt free scream live on the show. Make sure you visit daveramsey dot com slash show in registered. We would love for you to come to nashville and tell your story. Hey if you've got questions questions about retirement investing or becoming an everyday millionaire go bigger and broader with my man. Chris hogan on the chris hogan show listening to be v._i._p.'s people often often get overwhelmed with the topics of investing and retirement and how to reach a net worth of a million dollars. That's why every episode of retire inspired offers effective tools and insights so that you can focus forward get excited and reach your high definition future baby hear more from the ramsey network including clued the chris hogan show wherever you listen to podcasts. Hey james producer of the dave dave ramsey show. This episode is over but check the episode notes for links to products and services. You've heard about during this episode. Thanks for listening.

dave ramsey texas ramsey solutions ramsey household chris hogan America I._r._a. california youngstown nashville Roth peter vegas south carolina north carolina
Income Report for June 2019: Podcasters Paradise Updates, Daily Fire, and More!

Entrepreneur on FIRE

33:29 min | 1 year ago

Income Report for June 2019: Podcasters Paradise Updates, Daily Fire, and More!

"Shake the room fire nation J. L. D. here with an entrepreneurs on fire income reports for June of two thousand in nineteen eighteen fire nation. We have a lot to talk about today but really quick. I WANNA give you our income at a glance for Jim are gross income was three hundred and fifty three thousand two hundred dollars. Our toll expenses were just under thirty thirty K. for a net profit of three hundred twenty three hundred twenty three thousand six hundred and sixty one dollars and fire nation. There is a reason for this massive jump of one hundred at eighty one thousand dollars from last month which actually has a net profit overall increase of ninety one point six percent from last month and we will get into that in the meat and potatoes of this income report so a little teaser there. Don't you go away because again. There's a really big specific reason for this income increase but first. Let's think our sponsors shipping and mailing from your desk has never been simpler than with send a pro. Oh online from Pitney Bowes. Just Click send and save your back to business in no time visit P._B.. Dot Com slash fire for a free thirty day trial plus a free ten pound scale to get started that's P._b.. Dot Com slash fire looking for a place you can go were hiring is simple fast and smart. That place is zip recruiter in right now you can try ziprecruiter for free at ZIP RECRUITER DOT com slash fire. That's ZIPRECRUITER DOT com slash fire Ziprecruiter the smartest way to hire alright. It's time to dive into the income report so let's introduce our other people on the Mike. We Have Josh from C._P._I.. On on fire in Kate who of course is the backbone of entrepreneurs on fire so Josh Kate How y'all doing today. Oh it's up fire nation. Love it you guys I thought you figure out who's going to speak. I in the past episodes no exactly the same time awkward as possible. This is all staying in the income report because that's awesome but we have an awesome monthly at tax tip from Josh so josh now that case not going to getting your way what's going on. Brother gives a quick update and then dive into your monthly taxed tip. This month is wait for whatever your teasers replicate it and make three hundred twenty three thousand dollars rich my good go hang up piece how we got a little bit of a different one this month John I know one of the things that's the most rewarding part of being successful entrepreneur and I know you kate would both agree with this. Is that the opportunity that affords you to give back to causes that you're passionate about because when you have a successful business right you have more time and you have more income flexibility which allows you to give that time in that time in that money to causes that you are passionate about and we went over plenty of times how out there is tax benefits to giving to qualified charities but it was while I get questions from people who WanNa take that to the next level and form their own nonprofit their own foundation that they can contribute to and I actually just went through this myself. My Wife Might Create our own nonprofit profit a few months ago so I thought this would be great time to tackle that topic. What do you think I love it? Who will so before I give these steps somebody three quick and easy steps to Form Your own nonprofit before I do that? I'M GONNA make it sound kind of simple. I of course highly recommend commend. You Talk to a qualified C._P._A.. In they qualified attorney before doing something like this but I will say that my wife who has no tax experience has illegal experienced formed ours almost entirely herself all right so just a few questions she took it off went running with it. She is a Rockstar. She figured out like that but all I'm saying is you don't need to spend thousands and thousands of dollars to have someone do it for you. Consult a qualified people but then you can do this yourself fair enough fair enough are so so if you are going to try and be this yourself. There's three steps the first step. Is You have to Actually Register the nonprofit with your state and this is very very similar to registering l._l._c. with your state. When you start a business okay so every state is a little bit difference? I can't give you exactly what it's going to be but typically is going to involve three things. You'RE GONNA have to appoint your board of directors. Okay so obviously yourself is going to be one of them. Maybe your spouse and most states will require you to have at least one unrelated person okay so <hes> John and Kate could start one and then they they they could bring me in for the third person they'd have their three board of directors then they'd have to do the bylaws which is going to outline the outline the purposes and the details of the nonprofit so basically go over what you're going to be doing how you're going to collect money. How are you going to pay it out all all that stuff think of it like you're operating agreement for Your Business? You GotTa do that and finally got you do your articles of organization which which you actually file with the state just going over all the basic details the name address board of directors all that stuff which is very similar to the articles of organization again for an L._l._C. so if you've ever formed a business this is actually going to be very simple for us all the same things and when it comes to something like a bylaws my wife literally googled sample bylaws for Ohio nonprofit a fillon came up all she had to do his answer the questions they asked and it created it all for her so this is very easy to figure out how do yourself but you've gotta pay attention and learn what your state needs. Number two is going to be another thing. I mean the morgue over this is very similar to setting up a business but how often we talked about. You need to create separate bank accounts for Your Business. It's the exact same thing but way more important when it comes to a nonprofit once you have those articles of organization done with the state either go to your bank and create a separate bank account for this nonprofit all right. It's important when you're you're a business to have separate ones. If you're nonprofit it's absolutely crucial because the last thing you want is for the I._R._S.. Or the State to look at your nonprofit books and see that your co mingling business and personal funds that does not look good okay so you need at least a bank account and then if you're gonNA use US pay pal or any other online merchant accounts you need separate accounts there everything that you're running money through hassle in the nonprofits name so that's the number to create all those separate bank accounts and finally step number three which is part of intimidates most people and that's applying find for tax exempt status with the I._R._S.. So you're going to be I._R._S.. Saying hey this is not actually a business is gonNA make a profit. This is a nonprofit we want to not be taxed on the donations that we'd received on the revenue that will receive for what we sell and all. You're doing his filing a form warm ten twenty three with the I._R._S.. Before doing this ourselves I even had heard this is an absolutely miserable process takes forever responded super hard to fill out it turns out that that can be the case if you're going to be very big nonprofit right from the start but if you anticipate despite having less than fifty thousand dollars per year and donations or revenue for the first three years and you have less than two hundred fifty thousand dollars in assets you can file what they call ten twenty three easy and as the name easy suggests it is significantly easier. Okay okay all you do is creating online account that Lincoln the income report and you fill out a quick online form and you typically here back within thirty days so again my wife bill this out asked me a couple quick tax questions on it filled with all out herself within thirty days to get approval from the I._R._S.. Were we're often running. Where a nonprofit organization okay so again? Don't get me wrong. You need to consult your attorneys. Your C._p._a.'s figure out what the steps are for your state but if you don't have to bootstrap this and not put a ton of money into it right from the start you can do this yourself. Follow these three quick and easy step see what you need to do for your state specifically and it can be done fire nation it can be done. Don't be intimidated by this stuff because if you really have it in your heart have a core desire to make this kind of impact packed in the world it can be done and Josh is just laid out those three steps you can go back to the income report. You can see the links that we have in there. That's GonNa take you to these forms in you will be off to the races. I know one thing the Cane I love about having moved down to Puerto. Porto Rico one of many many things is of course since we free up a lot of money now that we only pay four percent in taxes it allows us to be very philanthropic and very generous with all that extra money that we have left over at the end of every single year but but you have to do things right you have to make the right decisions and take the right steps so josh any last thing as we say goodbye here yes instead of sending out the C._p._i.. Fire website information if it's alright with you had like to talk but our nonprofit very quick all right so our nonprofit as John You guys know we have three kids we have twin boys shakeup and Eli our daughter Molly but a lot of people don't know that we suffered from infertility and we had to use I._V._F.. In vitro fertilization to have those kids in and it costs us over fifty thousand dollars out of pocket to do that because insurance typically doesn't cover that so after we went through that we wanted to help other people who suffered from that infertility but just did not have the financial means to make that happen because we didn't think that anyone should not have kids at wanted to have kids strictly quickly because of financial means so we created the gym foundation they can find it at J.. E. M. Foundation Dot Org and we are giving away our first five thousand dollar grant in October two couple that suffering from infertility that that does not have the financial means the paper all of that themselves so applications online if you want apply if he know someone that that would be good fit please have them visit our website the grants right on the website apply to it and of course if anyone wants to donate donate button on the website as well. We're looking to give several these these grants away Eh love that 'cause fire nation. I really hope that if this rings true with you or if you're listening you're like wow this actually would make sense for somebody in my family or friends or loved ones whoever it might be passed this information along Gem Foundation Foundation Dot O._R._G.. Gem Foundation Dot Org and of course we will have the links on the show knows page as well so josh things for your time brother hope you have a wonderful month in we'll catch you in August August all right take so we're going to bring the lovely Kate Ericsson on the Mike now. She's GonNa talk a little bit about what went down in June as far as entrepreneurs on fire so kate. Let me step back from the Mike allow you to pick it up and a rocket doc it what's up fire nation time to of this income report got to say hello very briefly well. Basically I got to battle with Josh over the Mike next time we just need to invite Josh shown to Puerto Rico and we could just record or the income report in person so we can visually see who's about to start talking but before we dive in I just WanNa say I'm so like excited and I like. I don't know that proud is the right word but I just think what Josh Corner doing is so incredible. I've had very close friends of mine deal with infertility and you know spending years and years going through tests and trying i._V._F.. And having it not work and <hes> I can't even imagine like the emotional rollercoaster the dot is so huge Kudos to Josh and Courtney for creating this for courtney like how resourceful ishita figure this all out as Josh said she did most of this by herself itself so huge Kudos to those guys fire nation. We hope you'll check it out. Okay so podcasters Paradise Updates John we've kind of been on this continuous improvements journey with podcasters paradise and and I think you'll agree when we launched podcasters paradise back in October two thousand thirteen almost six years ago wow that is like almost six years coming up so vast. I can't believe has been going for that long but but I think you'd agree when we launch podcasters paradise. I don't think either of US had any idea six years later. We'd still be learning lessons every single day. Not only in terms of you know what things about podcasting thing but just about what it means to create an online course in community I mean we have had such a learning experience and it's been really cool to feel as though we're actually growing with the community as well I I mean we're the ones quote unquote teaching the content but in so many ways I feel like we are learning and growing everyday to and I know that a lot of people are intimidated by creating all in courses and communities. It's a lot of work and you know the impostor syndrome is ever present. We get questions in our own minds like who am I to teach US content or like I don't. I don't know if I can create a course because I don't even know what to include a my course or what if this isn't good enough and people leave leave you know they join in the name mmediately leave. These are all very legitimate questions but each of them has a very straightforward answer so while I definitely want to dive into all the continuous improvements we've been doing 'em podcasters is paradise a huge chunk of which took place in June. I also want to answer these concerns so if you are right now tuning in and you are passionate about creating an all in course all on community but you're thinking who am I teach us content content my question for you is who aren't you to teach this content. Have you ever stopped to think that every single day that you don't share your knowledge or experience with your audience that you're doing them a great disservice and if you are feeling like you don't know what to including your courtier membership well that depends on what those who are investing in it are going to want so. That's why it's so critical to know your Avatar. We talk about this all the time and and the reason why is because everything you do in your business is going to require that you know your Avatar because once you know your Avatar you'll know exactly what to include in your course and that third concern that I brought up what if it's not good enough for the people what if people joining they leave well that brings me to the importance of continuous improvement because once you launched you're going to have the opportunity to consistently improve what it is that you have to offer and that's exactly what we've done with podcasters paradise holy cow we literally launch podcasters paradise with exactly zero things in place for it not kidding we had a proof of concept Webinar and perhaps you've heard this story before I'm not going to go through the entire thing but we launched podcasters paradise and sold it to over fifty members without any online platform without any facebook group with literally zero things in place but of course six years later we've come a whole long way and I wanNA break down what continuous improvement looks like for us because it's a very repeatable process that you can put in place in your business whether it'd be for all in courses for memberships for other projects or programs that you run in your business says so step number one is each quarter we do a review of our membership site and we consider what tutorials and content we already have and what might be missing so as you can imagine in the podcasting 's face and this is true of a lot of other her things into online space general there are new developments and softwares and updates happening all the time so making sure that you check into ensure that your content is up to date. This is such a critical part of making sure that the community community is providing your members with relevant and up-to-date Invo is so important and again. That's something that's going to ensure that members wanNA stick around if you're continuing to provide them with relevant up-to-date information they're not going to have any reason he's into go someplace else for it. Step number two is every day we are active and engage in our private facebook group. This gives us an opportunity to listen to what our members are talking about. What questions are they asking all all the time what are people struggling with what are people asking for feedback on we engage every single day in that private facebook group not only giving our members access myself and John which is a huge perk of being a part of podcasters paradise but then? We're able to turn around and use the knowledge to help inform updates and changes that were making within the membership and within the community and number three we just straight up. Ask Our members for their opinion whenever we're outta loss or wondering if our assumptions Russians are accurate we just ask and the easiest way to make sure that you're keeping your course your membership or your community up-to-date and exciting for your members because yes that is really important like if you haven't noticed there are a million things going going on at all times so if you're not capturing the attention and excitement of your members then that could be an issue and so we asked them for their opinion. We let them know that we value what they're looking for. We let them know that we are going to make updates and changes based on what they tell us and we never send a weekly email digests out or wrap up one of our monthly live Q._N._A.'s without letting our members know that our door is a wide open and that we'd love to hear any recommendations or or feedback that they have about the course well done cates I mean that was a lesson fire nation in the process that we go through and that we highly recommend other people going through. When you want to keep your course your community your products your services relevant? I mean the biggest thing that I wanNA say here in cates Tush on it but I just WanNa touch on it again. Is You have to keep your finger on the pulse of your community in Kanai do that with our daily facebook group. We have look we are committed to being in that facebook group every single day. It's not always an hour or thirty minutes sometimes not even fifteen minutes but we are in there as long as we need to go through every single person's question like comment support. Give some guidance. I didn't answer questions were in there every single day at least once a day sometimes twice a day. We don't let it run our day but we're in there every single day and I can proudly say that when people are like so John like what's one of the biggest benefits to join in part gashes Peres will you literally can ask me a question in the facebook group every single day because I am in their answering questions Ryan support providing guidance and that helps us in prove podcasts paradise by like what Kate was saying seeing what the biggest struggles are the consistent pieces of guidance this needed and then creating video tutorials around those who don't have to go and recreate the wheel and just ask questions every single time we can just say hey. I'm going to link to this question that you have right here because we created an entire video tutorial around that it's okay before we move into the next section. How do you want to wrap up this section creating all on course running a membership? It's a lot of work but the rewards for this are truly priceless fire nation hearing our members launched stories hearing their wind in their breakthroughs. We've had people in podcasters paradise. Get T._v.. Deals off their podcasts. Hearing people say that they've you know created their first affiliate relationship. They did their first launch day. Create an all in course for their community they earned their first dollar as an Amazon associate. I mean these winds and breakthroughs being able to support and help provide feedback and build this community that we have <hes> as just a really exciting thing to be a part of the and again. Oh so rewarding so fire nation that again is a step by step walk through of what we do to keep podcasts paradise the number one best podcasting community in the world and if you're a part of it you know that it is we're looking forward to seeing you in podcast movement at our podcast paradise meet up and if you're saying wow this podcasting thing is something that I've been thinking about well as always we have a completely free course for you. Free PODCAST COURSE DOT com. Go check it out and start your podcasting journey and we have a lot of really cool things coming up as soon as we get back from thinking our sponsor these days there are so many tech improvements that make our lives easier. Let's take hiring for example hiring to be hard posting to multiple jobsites combing through stacks of resumes but today hiring can be easy with ZIP recruiter. No one knows better than Taller Goldstein of three day rule and online matchmaking service three day they rule was rapidly expanding in hiring which especially for a specialized roll like matchmaker was challenging. There are a few ways ziprecruiter helped one. They send jobs over one hundred of the Web's leading job boards to their centralized candidate Dashboard Board made it easy to receive in review candidates and their pre screening questions allow them to hone in on qualified candidates quickly by using ziprecruiter three day rule was able to increase their staff by thirty percent Talia says we just lost our tenth city. We have to go. I know Ziprecruiter is going to be there to help me find the best matchmakers across the country and right now you to try ziprecruiter for free at ZIP RECRUITER DOT com slash fire. That's ZIPRECRUITER DOT com slash fire higher once again ZIP RECRUITER DOT com slash fire Ziprecruiter the smartest way to hire when running your own business every minute counts. That's why I invest time including the best systems possible especially when it comes to day-to-day operations rations take shipping for example. Did you know you can ship packages and mail straight from your desk. It has never been simpler than with send appro online from Pitney Bowes which allows you to quickly exact posted online plus print labels straight from your computer shooter with Central Online from Bos- all you have to do is click send in save starting at four dollars ninety nine cents a month. You'll also qualify for special U._S._P._S. rates for letters and priority mail shipping and for being part of fire nation. You'll receive a free thirty thirty day trout and get started plus a free ten pound scale to ensure that you never overpay for shipping again visit P._B.. Dot Com slash fire to access the special offer for a free thirty day trial plus a free ten pound scale to get started that's P._b.. Dot Com slash fire experienced shipping may simple with a free trial of central online from Pitney bowes so fire nation. We're back in the last thing that I wanNA talk about before we move into our June twenty nine thousand nine income become a breakdown is daily fire. A lot of people have been like John. Do you miss doing a daily podcast well. The answer is no because now I have to daily podcast in addition to entrepreneurs preneurs on fire so I have entrepreneurs on fire which currently as you're hearing this is Monday Wednesday Friday of every single week in I have the daily refresh which I lost over a year ago which is every single day which is a quotes gratitude gratitude and guided breathing and under three minutes which is on Amazon flash briefing as well as all your podcast directories but just recently I launched a another daily podcast that seven days a week called daily fire in this is just one minutes of me sharing an inspiring quotes and then riffing off of the quotes as how I see it applies to entrepreneurs Cyprus Moore's entrepreneurs in you fire nation now the one where I would use as to the reason why why I launched another daily podcast called daily fire in addition to the daily refresh is re purpose. I decided a while ago to create a daily one minute video for Instagram for Youtube for linked in and guess what for all those platforms it's the same one minute video I create one video per day for all of those platforms linked in Instagram Youtube facebook and so what do I do. I take that one video repurpose it. It's across those social media platforms and that's the word that I want to hone in on here repurpose so I was thinking to myself well. Hey if I'm already creating this one minute contents around these really inspiring close why not just take that at it to my virtual sure assistance plate and have him turn it into a daily podcast and so I did that I said at the systems and the automations and now daily fire exists and so if you're looking for that quick one minute quotes in a little jail de rant on that. Quote daily fire is for you but the biggest reason why we're talking about this now and I wanted to bring it up is because what are you currently creating content wise. If you're currently creating contents think about ways you can repurpose that content across different platforms platforms. I mean even myself who continue surreal about this and say you should be repurposing. I was doing a great job repaired repurposing across all the social media platforms but I wasn't repurposing that as a podcast and I just hadn't thought about it but when I thought about I was like it's so obvious let me get the systems in place in make it happen in his honestly zero more work for me to have this. Another daily part gas out now that I set that system up is in place because it's being repurpose by my virtual assistant so daily fire. Go check it out. I love your feedback. It's everywhere apple podcasts stitcher Google spotify you name it. It's there. I'd love to eat your feedback on it but more importantly I hope you take the lesson of the value in the power of repurposing so let's get into the June twenty one thousand nine hundred income breakdown our products and services revenue for the month one hundred fifty six thousand dollars. We did over eleven thousand dollars for our journal sale so if you have the freedom him journal the Mastery Journal or the podcast journal you know what are journals are but if you don't you can check out the freedom journal Dot Com which is all about accomplishing your number one goal in one hundred days the mastery journal Dot Com which is all about mastering productivity discipline and focus focus on one hundred days or the podcast journal Dot Com which is all about creating in launching your podcast in fifty days and guess what use Promo Code podcast for fifteen dollars off the checkout of any of those journals as a thank you for listening to this podcast so go ahead and make that happen. PODCASTERS paradise brought in thirty three thousand dollars for the month so that was a great part of the revenue as well in our podcast sponsorship really did shoot through the roof last month. We did a hundred five thousand dollars. This is only our second time since we launch entrepreneurs on fire that we've crossed one hundred thousand dollars for one month and sponsorship income so this is really a definite milestone. We're very proud of and that was a huge huge number for us. Moving into affiliate income. We did one hundred ninety six thousand dollars in within this one hundred ninety six thousand dollars is really where our little teaser says of why we generated so much revenue in the month of Jim we did great with click funnels as always eighteen thousand dollars we brought in a twelve hundred dollars through Amy's Digital Course Academy twenty seven hundred dollars through closes on fire dot com by Dan Lock so we generated revenue and a lot of different ways per usual the affiliates but we got paid out for our support of Tony Robbins knowledge business blueprints and if many of you remember we were promoting go back in April and May Tony Robbins Dean Graciosa and Russell Brunson got together in launched a great course called knowledge business blueprints combined with a software called mine mint software and we push hard for this because it was a great course I kate night both went through it and we loved it. It's great software very easy to use very functional plus. You know it was a really cool opportunity to really share with our audience something that we both believe in which are masterminds in creating masterminds live events and all that cool stuff and then actually really happy to say that if you're listening to this now you can take our brand new free course mastermind on fire where we teach you how to create launch mastermind in in five video so just in five videos you can learn how to for free and launch and run your own mastermind mastermind on fire dot com so definitely check that out but getting back to the point that we ended up coming in seventh place out of a thousand and fifty three affiliates doing two hundred seventy eight sales in our first payout on that two hundred and seventy eight thousand dollars was one hundred sixty eight thousand dollars which you've got paid last month which was a huge injuries and four that big spike in our overall monthly income and over the next few months as we continue to get paid out on the rest of the revenue that we generated through the affiliates of Knowledge Business Blueprints we will be getting the remainder of that rats on those monthly payout so that's just kind of a long way of saying it was a huge affiliate launch and we came in seventh-place little side notes because we came in top ten myself and Kate actually going to Fiji in September two Tony Robbins private resort it called the molly where we get to spend four days with Tony Robbins in the other top nine finishers Jenna cooter Brennan Bouchard Lewis House nickens worth Billie Jean Eben Pagan just amazing people Joe Mary Joel Marion's and other one really cool top ten people and that we didn't get to spend four days with Tony Robbins at a private mastermind at his private resort for coming in top ten during that law so that was a really fun launch really successful financially. It's going to be really good networking as well because we do that with Tony and the other top ten people and that is the big teaser of why June was such a monster monster month for us that is probably not going to be repeated in the near term future unless something else comes up which you'd never now South Long Story Short Thou brought our total gross income to three hundred fifty. Three thousand dollars are total expenses were twenty nine thousand five thirty nine for our net profit of three twenty three eighty six sixty one now kate you have the biggest lesson learned something about time being limited so I won't waste any time and I'll let you take it away. All right super excited to dive into the biggest lesson learned. That's going to be a little bit different but real quick before we do that. John You talked about our affiliate launch and participation with the knowledge business blueprint launch and I just WanNa remind fire nation that in last month's income report we broke down affiliate relationships creating them how they work how we ran this affiliate launch all the details in last month's income report so if you want to check out any of those details it's you'll fire dot com slash income six nine not to be confused with this income report. You're listening to right now. which is you'll fire? Dot Com forward slash income seven zero that means we have done seventy seventy angle reports when I say it just doesn't sound true but it is lester okay so now to adhere to my biggest lesson learned your time is limited while I typically present our biggest lessons learned with a story in conclusion Dan. I thought that it would be best in most powerful for this. Month's lesson learned to just be the quote that inspired it now. This is one of my favorite quotes and I often revisit it when I'm feeling stock or frustrated or lacking confidence or power and decision making and so after I read it whether it be right now later today this week I highly encourage you to really think about it. LEADS US quote set in figure out what it means to you. You may be read it four or five six seven twelve times and just really think about it. The quote is by Steve Jobs and he says your time is limited so don't waste it living someone else's life don't be trapped by Dogma which is living the result of other people's thinking don't let the noise of others opinions drowned out your own inner voice and most important have the courage to follow your heart and intuition mm tuition. They somehow already know what you truly want to become all right. That is a rapid fire nation. I hope you take case advice to heart and really just listen to that quote. Maybe hit the rewind. Thirty Second Button listened listen to a one more time as powerful. It's meaningful and we will catch you on the flip side. Growing businesses need qualified candidates in qualified candidates can be a challenge to find lucky for US ziprecruiter makes.

Josh Kate Josh facebook US John John You Tony Robbins attorney Jim US Dot Com Pitney Bowes Gem Foundation Foundation Dot E. M. Foundation Dot Org J. L. D. Knowledge Business Blueprints Amazon
Keep Holding OnThe Fun is Coming! (Hour 1)

The Dave Ramsey Show

40:22 min | 1 year ago

Keep Holding OnThe Fun is Coming! (Hour 1)

"Live from the headquarters of Ramsey solutions. Broadcasting from the dollar car rental studios. It's the Dave Ramsey show. Dad is dumb cash is king and the paid off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey your host. Thank you for joining us. Open phones at triple eight eight to five five to five well need to tell you. Thank you, and on behalf, Rachel Cruze, Ramsey personality, and my daughter the contentment journal that she put out our team put out ninety days of journaling through gratitude to humility to contentment thirty days on each being led by her on Instagram starting a little bit later this month that came out this week we launched at this week, and it's running like like one hundred and something on Amazon one fifty one forty in their on Amazon which. Means it's selling like crazy. So thank you guys. We appreciate it in certainly it's selling crazy here at daveramsey dot com and Rachel Cruze dot com. But we appreciate it. Thank you. It's a great idea. And it's good writing by her, and it's really theologically sound and philosophically sound stuff. Gratitude leads to humility leads to contentment Easter three good things that all of us could add a little bit more of to our Cup. Me included. Brad is on the line. Brad is in Saint Louis. Hi, brad. Welcome to the Dave Ramsey show. Hey, what's on? How can I help? Yes. So I'm looking to get some advice on behalf of my mom, obviously. She doesn't know I'm calling cheap probably be pretty embarrassed. So I I was speaking to her recently about retirement, just in general terms, and she mentioned that she wasn't taking her employer match which puzzled me for for for a one K. And then we started talking more. And I learned that she's about ten thousand in credit card debt, and I don't know for sure. But if I had to guess, she's currently making thirteen to fifteen an hour, and so it's pretty pretty daunting debt, and I was able to convince her to to start taking her four one K match from her employer. But I know that with her current income and paying mortgage on the house. That I don't think she'll be able anytime soon to really attack that that wondering how I can best help. Her's help herself out is she she's about I think she's fifty nine coming on sixty. Also, don't tell her. I said that I. Well, unless she calls I'm not going to be talking to her. So. But the okay the and that makes you what thirty no actually about twenty five. Okay. All right, cool. Well, it basically what there is are several problems going on that stem back to the fact that we're not look she's not looking at her money situation. Holistically? Meaning you gotta zoom back from the house payment zoom back from the incomes in back from the credit card debt, zoom back from the mismatch and say what's happening here. And so then we start to say well is the house payment to big based on the income. Then if it is that means one of them has to change. Yeah. And it's probably the income. It's probably time for her to explore a some better options with income. She's not making much money. And and you know, it might be that she was widowed or divorced a few years ago, and she's never really gotten her marketplace confidence up, and that might be the best place to encourage her is to get in touch with kin Coleman's stuff on, you know, getting in proximity proximity principle, and and you know, how to put the output a job search together a career plan together and at fifty nine it's not over. I'm fifty eight. I'm planning on doing a lot before I'd is still. So she's got plenty of time. And I know that sounds old when you're twenty five, but when you're fifty eight fifty nine doesn't sound very old. So. But let's zoom back. Let's look at the income. And let's get that up. Then does the house payment fit your house payment, if it's much more than a fourth of your take home pay? It's very difficult to prosper. Okay, now, then we're going to work her right up the baby steps using a budget. Get her own every dollar. You can help her do that. If that everydollar app on her phone teacher to put together a budget and say mom, I've been learning about these baby steps, let's get a thousand dollar save. Let's get these credit cards cut up. Let's get you on a budget. Get your income up. Let's tack the credit card debt get rid of it. Let's build an emergency fund. And then let's start really putting money into an investment with the company match over here. She probably could make a ton of progress in one year. And if she did that in by age sixty and then had ten years to age seventy of working making more money and aggressively piling money into her house, tore it gets paid off and into her 4._0._1._K. You know, we could set her up for a seventy two seventy five year old retirement that looks pretty good. It's still doable. But it's probably going to involve all of those things. Zooming back and saying, okay, get the income up or we gotta get rid of the house payment and get into a cheaper place. One of the two probably though it's an income issue because you kinda lead with that that, you know, she's not making much money. And what we gotta do to help her do that. We'll Ken Coleman dot com. Kim's got all kinds of resources over there for resumes, all kinds of resources over there for interviewing getter listening to his podcast on finding the job you love making more money, and sometimes that's part of the equation. So you're good man to help her out that way. Hey, thanks for calling in open phones at triple eight eight to five five two two five Sarah is in Oklahoma City. Hi, sarah. Welcome that I've Ramsey show. Hi, thank you so much for taking my call. Sure. What's up really be shade? It. I. Quick question. I have been cleaning for about ten years. And I guess I'm at a point of frustration. A little bit is how to like grow my business and keep it consistent. Just residential mainly. I've done some commercial. But I struggle with you know, building a good clientele. New and you lose it big client. And then it's like it really affects your income. And so like, how do I avoid that? Or how can I grow my business better to where I can you know, or a real business? Not just didn't it if that makes sense because when you are when you don't work, you don't get paid, which means you own your job more than you own a business. Right. And so we've gotta grow it on. There's a couple of things you can do like you said one you could move towards commercial and take on bigger jobs or you can move towards hiring and training people and take on houses that are. Cleaned by people who work for you. And you could be a player coach you could keep also keep doing cleaning during that time. And and you know, here's the thing. I've noticed in business. The more customers I have the less at hurts when I lose one. Right. And so that's what I'm thinking in your situation is we've got to get you more customers. And you know, maybe even get to the point that there's almost like a waiting list get you right until I get there. That that's that's the marketing side of the equation, meaning gab marketing gathering up new customers. And that's the best place to get those is a referral from your existing customers. And, you know, just get get people in line for you. And and raise your prices, and then add some people to your staff and grow at that way. Hold on send you a copy of Christie rights book business boutique, it will definitely help you with all that. Folks, I don't do cheap that. I do. Love a good deal on a great quality product like tuft and needle these guys offer amazing mattresses for every budget. And now they have a brand new mattress called meant. They literally took their best mattress. And they made it better. They've maxed out the amount of cooling jail and graphite to keep the air circulating and your sleep from becoming a hot mess unique to check out tuft and needle try it for one hundred nights risk free at t in dot com. Lance is with us in Corpus Christi, Texas. Welcome to the Dave Ramsey show. Lance. What's up? Question municipal retirement system, before what the county retirement system, I have about ten thousand dollars in my county retirement system, I can opt to pull that out and pay the debt off on thirty. So I still have quite a while before. I even think about retiring, I just wanna make sure it's a good idea. It's not I would roll it to an IRA. And here's why when you pull money out of a retirement system early. You get charged a ten percent penalty plus your tax rate. And so you're paying thirty five forty percent on this money. So it's kind of like saying Dave ONA borrow money. A forty percent interest thirty percent interest to pay off my debt. You would never do that. Okay. So Rollet get with a Smartvestor pro and roll it to an IRA in good mutual fund in some good growth, stock mutual funds. And it'll it'll perform. For you. And you're not giving up a third of your money to the government. And so we tell people not to cash out retirement to pay off debt. Even though we want you out of debt, but not to do that. Unless you're it's to avoid bankruptcy or foreclosure, and that's not your situation. Travis is with us in Harrisburg, Pennsylvania. Hi travis. How are you? I'm doing well. Thank you for taking my call. Sure. What's up? So I know with my Smartvestor pro yesterday, and I'm on pace to make over two hundred thousand dollars a year this year, which does not allow me to or to contribute to the Roth IRA he's actually encouraging me to use mutual funds instead of a backdoor. Roth. And I want your thoughts on that. Why would you not do a back door Roth? I make over I make over the amount. You can do a backdoor. Roth. If you make over there. I asked I do back door Roth, and he encouraged me to go straight mutual funds. Instead why. He said the paperwork involved with back door Ross is cumbersome, and he said tactic manages long-term. May not be what I'm hoping. They would be by using the back door Ross versus just going straight mutual funds. That's about advice. Sorry, sorry. I sent you to him. I do a backdoor Roth every year, and the my wife, I mean, my wife, and I do want every January so the paperwork not that cumbersome. It's five pieces of paper. It's not that big a deal, and it grows completely tax free from that point forward in good mutual fund. You're still in mutual funds. The only difference is how the mutual fund is treated for taxes. An IRA is not an actual investment. It's how an investment is treated for taxes. So. But no, I would do a Roth IRA, and I'll help you get another Smartvestor pro shop which on holding Kelly pickup. We'll find out who that guy is. And maybe we'll have a teachable moment for him. Oh, brother. Open phones this hour triple eight to five five two two five. Rachel is in Lansing, Michigan. I rachel. How're you? I'm so I'm sorry. I'm nervous soaking talk to you know, trouble and help so graduate entry sixteen and my plan was to go to law school year later in life happened. Say the first part again, I plan to go to law school. I graduated twenty sixteen year of which is be seventeen an hour at nine. Gonna happen. So now, I'm rethinking that again. And I wanna know if I should pay off my student loans, and my that I'm working on credit card that right now. And I was wondering if I should pay off my student most I or I guess just go when I'd be making more than my students after but I will continue to pay much. It's about fifty five graduated undergrad with about thirty. I took a few grad grad school classes, and I kinda overdid it. I was pregnant the first time I tried and it didn't come from the classes, then I had my daughter try to again, but as much on. This isn't in that area. So and fifty five student loan debt much credit card. Do you have about seven and what does your husband do? I'm saying, you're single mom. Okay. And what you do. I work at the state of Michigan liking. About forty and I'm looking now to get another job as a pair legal trying to get I guess my stuff together to try to get another job. Apparently now 'cause I make at least about fifty that'd be at least ten thousand dollars increase. Right. And your child is in daycare. Well, her dad watches today 'cause he works overnights. And then when I get off work aside. He he goes to sleep and I kinda take over. So I would since I have heard the Jordan at a time. I gotta live with her dad. No, he is at my house when he signed today. All her stuff is at my house show. Okay. Yeah. It's kinda he has apartment, but I have you know, when I get off work and on weekends. So from our would you logistically with the situation go to law school? I would plan on going like I live answering fell clinical MSU Wayne State, which is in deterrent nearby. My mom isn't tired since law school classes name during the day shoot the in bay care or school during the day. So, and then I was just Joan what you eat and pay rent while you're doing this why I'm planning that's why I'm kind of enquiring I'm planning to get a scholarship one hoping to get across. I wanna study in advance Bantu though. If you were if you were going to school during the day, how would you eat and pay rent while you're going to law school? If I get a stylish doesn't awesome rent and food they pay for tuition. While it seek other grants or faith in the process because I wouldn't be calling this year kinda everything for the year the next year. So I would have enough time to logistically hopefully, safer as year, and then work to well, I wouldn't wanna work my first year 'cause a lot don't let you or if I do I work part time and then two hours. You wanna go to law school? I've always wanted to some traffic it, and I mean, this was supposed to have. 'cause I actually wanna work in the KOMO this field and work with the correction and prisons and stuff like that. And I have a passion for helping people. I mean, that's I know you can say that only, but I have passion for helping people in a lot, and I know the industry the KOMO Justice system that like to. Okay. All right. Well, I think what we've gotta do is we have to figure out a way that you do this with wisdom because if you just take off and go law school, and you borrow your way through this. You're gonna come out with three hundred thousand dollars in debt, and I'm not I'm not signing you up for that. Okay. So if you don't have a freaking plan. That's what's going to happen. You're going to default back to that based on emotion. If you don't have the financial in the math worked out ahead of time. And right now, you don't it's a very vague thing in your mind as to how you're gonna pull this off. And you've got to get this dialed in before you go forward on it. So yeah, I'm fine. If you don't pay off the fifty five I would want you to get the seven paid off. And I think making the move into the paralegal is an excellent move on your part because you might also actually get on with a law firm that might pay for your law school that that might be a way, you know, they might do that. If you're a good paralegal there, and they want to help you advance. They might do that. And so that's. Look for look for law firm that has a benefit a tuition benefit and that kind of thing so. That's what's happening here. And I would get the two I would get the I don't think you have to pay off the fifty five before you go. But you do have to be rid of the seven, and you do have to have a plan to eat and pay the tuition, and you don't have that plan right now. And you cannot wander into this and say, oh, a vague sense. It's a good thing to be a lawyer. It's not it's not a good thing to be a lawyer. If you're going to be three hundred thousand dollars in debt when you do it, especially if you're going to go into the corrections area, and you've got this heart for helping people though, those are not areas of the law that pay well, and so you cannot afford to be in debt to in. What you're talking about doing? You've got to get those things detailed out in detailed plan. No impulse allowed. This is the Dave Ramsey show. Stop blowing your budget on your wireless plan and switch to pure tacky USA pure talk. USA offers simply smarter wireless. Unlimited plans start as low as twenty dollars per month. You never pay data over its fees, and we never turned off your data, no contracts. No hidden fees. No surprises. We're so confident you'll love peer talk USA that we invite you to try our service risk free. Visit pure talk USA dot com or call eight four four eight six to three six seven seven enter promo code Ramsey. And receive fifty percent off your first month. That's pure talk. USA dot com. In the lobby of Ramsey solutions. Scott n Leah are where the guys how are you? Welcome. Where do you guys live from Houston? Oh, just outside of Houston. Welcome to Nashville and all the way here to do a debt free scream. How much you paid off we paid off two hundred ninety six thousand dollars. I long did that take it took twenty one twenty two months. Goodness. You got after it and your range of income during that time, we started off low nineties and we finished about one seventy one seventy five. Okay. What kind of debt was the to ninety six? It was a little bit of everything. It was a couple of rental properties. We had a lot of student loans. We had a lot of medical debt. We had some credit cards couple of cars pretty much normal stuff. Gotcha. Okay. So you sold some rental property get tuber to rental property. What did they sell for this over about one hundred forty two total? Sorry. No, I'm sorry. We paid them off we paid off about one hundred forty. They sold about goodness now, I'm forgetting. About about three hundred between the two of them. I guess okay. All right. And so that helped move this along very quick we shared some of that with our with our partner. My father's partner in the business. Yes. We we paid off one hundred one hundred forty we profited close to sixty they got a little bit for taxes probably less than that. So we we paid off just under two hundred. And then you catch float about another ninety or so cash flow about ninety six. Yeah. Wow. Good for you. So you had the rental properties, and how long have you two been married? We've made sixteen years. Okay. So what happened two years ago that lit the fuse on this? Because you guys went off. We did you know, we thought we were smart with money all these years, but but two years ago, I wound up found myself in surgery hasn't hospital. I had surgery is about seven years of. I don't know what illness really really difficult illness. Misdiagnose many many times with ridiculous rate diseases that nobody would want and finally lead had it. I was hurting so bad one day. She just said we gotta go to the hospital. And I said we've done this before we've been there, you know. But anyway, God God provided found the right stuff. Got the right doctor. Wow, had surgery, and I had clarity probably for the first time and and seven or eight years. I just realized I was not. Well, honestly, the way it happened was I had thirty thousand debts to pay. I mean, you know, everybody's billing me everything. And I so I just you know, we knew who you were you had a thing called a debt snowball. We were good with money. We're good with debt debt. So we never really follow your plan. And I just knew I needed to snowball this dead, all this medical debt, everything else. And what we got rolling. I just said we could keep doing this. Let's not stop. And that's kind of what started it two years ago. Just once it got rolling, then you went let's just sell the rentals. Yeah. You know, I listen to what you said about stuff to be honest. One of the things that really convicted me was your your story about being in real estate. You know, get doing all the right stuff all the things that people say bar on the money. The way you're supposed to leverage the debt. I was an exact same situation. Not quite the high numbers that you're in but real close. Yeah. And you know, I came out of this, thankfully, but there were some times where I know she was worried that, you know, her husband was gone, her strong athletic used to be full of player husband was now could barely survive in if I had left her with all that, you know, if something had happened to me, and I'd left her felt felt terrible. So so, yeah, just for what happens if and then the six children doesn't make that worry and six children. So we'll help so. Yeah, we just didn't I had was not doing not handling guys money. God's ways. Oko got really convicted by that. Okay. Cool. So the illness kind of woke you up in a sense or the actual. The end of the end of the onus count. Okay. Now. I gotta deal with this. It's right. I've been putting this off it's weeping this under the route that we've been just being normal. Yeah. All these years and okay? And and so then you so you knew we were out there. But how did you re engage with us? I literally it is because we had so many bills to pay coming out of that out of that surgery. But I mean. Podcast literally. Kids. We we actually took smart money smart kids right about the same time at our church. But it was literally like what does it mean to do this because I got spreadsheets like, nobody's business debt. You know? I was working development deals of doing all the stuff. And but I never had ordered it that way and never ordered. It smallest largest never really paid attention to debt whether because we had smart bit. You know, we had oranges we had student loans, and then and then all of a sudden we had this seven years worth of medical expiration. That was just. Yeah. Just overwhelming. But that's how we got sort of the podcast. I started. I started telling her about it. I you know, listen to your book on tape. We bought your book. Okay. No. We've done a few different things. And that's how we got engaged. We just tell people the key to getting out of debt is then. Hard work hard work, and being I think for each other being the cheerleader because sometimes just wanting to give up and not do it anymore. Just because it was getting so hard, but realizing that the children there was nothing for them. As far as like there was no extra money for. Let's go do something fun life just wasn't fun. And people would tell us if you're going to do this debt free thing that doesn't sound very fun. I was always thinking to myself, but they're fun is coming. We just gotta keep holding on. And they just they didn't have they wanted to do or thinking. Oh, no colleges coming quick. And we don't want them dealing with what we don't with with that college debt. So it was time. Say the book of proverbs says who can find a virtuous wife, the heart of her husband safely, Trustor, he'll have no lack of gang. That's what I did with this little lady here. I tell you and she would she she went to five or six different grocery stores. She turned our back porch into a beauty salon barbershop, depending on who needed haircuts. She sold a lot of stuff she's been, you know, she's participated in some some garage sale things that just really help us out. And she and again for seven years, she was pretty much a single parent. I went to work, I came home. I crashed. I was hurting all the time. And when we decided to do this. I said I'm going to my work. I'm gonna go to work, and I I I'm on business. And so I said it's directly tied to how much time I spend that office how much I'm on the job sites. And so we just she she took it on again. And she fed the kids at night, and I got to work, and you know, we just we just got after it. So, but we were definitely focused on twenty two months later. Boom. How's your field? Just like that twenty two months. Yeah. Feels really good really good for the first time. We have a plan of what we're going to do with these six children and how we're going to get them into college. The love not not put them in where we were when I gonna put them in the same place. We ran you changed your family out. So. Oh, he's proud of it very well done. We got a copy of Chris Hogan's book for you every day millionaires because you are on the way to be in one. Without a doubt. You got a great income. You know, now know how to control your money, and you're probably going to have to be millionaires just to send them to school. Good to about the smart money smart kids as they learned along the journey as well. And so when they would come to us asking us for things, and we had to say, no guys like we're still really trying to do this right now. They started eliminate stand in went so far as to design like a. Poster they made out to the navy. They would go knocking and say come to eliminate STAN on Saturday, and they saved well about four hundred dollars. Just so that they split between each other. Yeah. That's good work is what do. Salt mines. That's that's wonderful. All right. Bring them over. Let's introduce them with their names and ages. Come on over you. Give me your names in age got hunter. He's twelve. This is Taylor. She's ten. Kennedy is eight Payton is six and this is no one Lucas and therefore twins twins capital. Doba? My wife is the youngest and she's a twin. So there you got very good. All right white ago. You guys were proud of you. Excellent job two hundred ninety six thousand dollars paid off including the sale of to rentals in twenty two months. Making ninety to one seventy at Scott and Leah hunter Taylor. Kennedy Peyton and Noah count it down. Let's hear a debt free scream three two one. Love it. That is one of the things I see on social media, occasionally that really upsets me you can't do day Ramsey's with a large family, and it's pretty much what you said, you don't have a choice. But to do the stuff we teach if you have a large family. It's the only option it's also the best option for everyone. Just God's grandma's wise handling money. I didn't make it up. I just sold you on it. This is the Dave Ramsey show. Question that it comes from blinds dot com. They have a one hundred percent satisfaction guarantee. That means even if you miss measure you picked the wrong color, they will remake your window blinds for free, you get free samples free shipping. And with the new promos. They run every month you'll save even more use the promo code Ramsey. Get the best deal Leah is in Colorado for our question. She says this may this may I will be graduating college with an exercise science degree. Pre physical therapy. I'll graduate with no student loan debt. But I'm kinda scared for the real adulting world I plan on going to grad school, hopefully, but not immediately. What's your advice? For new college grads. Well, a void debt. Stay on a budget. Bill your emergency fund and safe to pay cash for whatever you're going to do in the future, for instance, grad school or buying a car. So that you avoid debt and stay on a budget and keep your emergency fund in place, and you'll do fine as long as you have to create an income, obviously that's called working you'll do that. And and then if you wanna move on into the P T world and get your grad in that start working towards saving that up. What you've accomplished going to school as zero student loan debt is pretty amazing. Well, done not a lot of people do that. And that that says that you got a lot on the ball and says you've got a bright future. So whatever you're doing. They're probably do lot more of that. Right. That's going to be the thing. So your very wise, and and have moved well beyond your years already. Chase is with us in Washington high chase. How are you? Pretty good yourself. Dave better than I deserve. What's up? Well, I'm calling to half your vice this my wife, and I should keep paying on her student loans or not so the past months. My life has been in the hospital on able to learn and is needing a lung transplant. And I heard her say just a couple of days ago that student loan debt is for him. And if you become disabled, so I was as just kinda wondering your advice on this. How much does she have? We have about twenty two thousand has she have. That that's hers. Okay. Okay. So you said we making sure that it's there's twenty two thousand in her name. Yes. And this is federally insured student loans. I believe I believe so yes, they're private loans. They're not forgiving, federally insured Sallie Mae loans, and in the event, she's declared permanently disabled and is eligible for SSI so security disability. Then then you would have to process, and it's it's a it's a little bit rigorous. But you I would go through the process and right now, I with her facing extreme illness like this, I would not spend money on her student loan. I would pile up cash right now, you're in the middle of an emergency. And. If she is declared permanently disabled, and you get that approved with SSI, then you apply with the Sallie Mae, if it is a federally insured student loan. It is forgivable Cameron is on the line in Kenton, Ohio. Hi cameron. How are you? Dave, I'm doing good. How are you better than I deserve? What's up? So I had a quick question for you. I'm currently twenty years old. I'm going to school in cal- Hieaux for air traffic, control. I have about thirty thousand dollars saved up. And I wanna know if it's a realistic goal to be a millionaire by thirty in ten years in ten years. Okay. So what will you be making? I will graduate here. Well, right now, I make fifty thousand dollars like working over the summer and at school part time. And then when I graduate in a year and a half, I'll be making start probably around seventy thousand okay. Well, I mean, I think you probably can make it, you know, it just depends on what you're willing to not spend. If you're investing a thousand dollars a month for twenty years, you would be a millionaire as an example. So if you were to invest. Probably about two thousand would get you there. So if you're making seventy and you're investing that aggressively and you've avoided debt, you know, you probably can make something along those lines. You know about the thing is this. I don't know that. I mean, you you could yacht. Always set goals. I like setting goals. I like the fact you're thinking about this. But we need to think about why you're doing this. And what is you want to do with the money where why what's the reasoning, and you know, that kind of stuff, and then you start to go. Well, you know million dollars is not enough. Or if I make it by thirty to thirty. It's not the end of the world, and you can start actually backing into it. And so just pull up one of the online future value calculators and say what have I got to put in? And kind of different scenarios. Can I run out in order to be there in ten years? But I think it's mathematically possible with what you're laying out. No doubt about it. Sarah is on the line Sarah's in Toledo, Ohio. Hi, sarah. Welcome to the Dave Ramsey show. Thank you for taking my call. Sure. What's up? I have a question about refinancing. My home backstory is I got a divorce three years ago. So I'm a single mom with four kids. And they're with me all the time. I started paying off that about two years ago only found do about a month ago. So I've been been listening to your show. I paid off about twenty thousand dollars in the last twenty four months, so in my divorce I have to refinance a house into my name. So I was wondering I inquired about refinancing your ready, and if I did a fifteen year mortgage my house payment would go up from eight fifty four to twelve hundred. So I just wondered if that was the smart thing to do. Well, I'm still I still have two more debts to pay off one is a nine thousand dollars on a van and then a twenty eight hundred dollar student loan, which are income about sixty thousand. And then I get about fifteen thousand a year and child support. What is slows you down? Obviously by four hundred bucks a month. Forty eight hundred dollars a year five thousand dollars a year. Okay. And if you're making seventy five thousand dollars a year with a twelve hundred dollar house payment that's going to be with still within twenty five percent of your take home pay. That's going to still work the. Then the question is can we get the debts paid? And you said you had some was fifteen thousand dollars left is. All right. Yes. Okay. You're going to do that in two years with or without doing this. See, here's here's what's running through my mind that I'm trying to figure out is if you can do this. It's the smart thing to do. Here's why. Okay. All the data tells us and one of the surveys. I read pieces of research ribbed twenty years ago has held to be true that people who. Win with money who Bill wealth when asking a question like this do not think about Friday or next month? They think about is this the best idea over the next twenty years people who are broke think about Friday. Yeah. And if you make the right decision based on Friday, you would take out a thirty year mortgage because it would be less payment, and it gives you more wiggle room in your budget. And there's less pain. Right. But if you think about twenty years from today, oh, you still got ten years left on that mortgage, or we would have been living in paid for house for five years if we do this. But it's painful today. So my answer is I would do it. If I can figure out a way to make the math work, even though it's slightly delays. Probably about six months you being debt free other than the house. Okay. Now, you're forced to refinance it immediately. Well, it's coming up to the time. I had three years. And so I have to do it in the next few months. Yes. So you don't have a choice of delaying another year. No good. What kind of relationship? Do you have with him? It's decent. I mean, I guess I could ask about pushing it back, but I'm might push it a year. If he would let you get that in writing with your attorneys. And use that year to pile on this debt, real hard. And then refinance it, and when you do put it on a fifteen because that gives you the wiggle room to punch the debt in the mouth, right? Yeah. If you could do that that'd be okay. But if you are going to refinance it, I'm gonna I'm gonna hold my nose and grit through and do the fifteen year because that's the best long-term play. This is the Dave Ramsey show. James Childs producer of the Dave Ramsey show. Did you know you can now listen to the Dave Ramsey show on ten Dora and Spotify for all the ways to watch. And listen, check out our show caves at daveramsey dot com slash show. Hey, if you've got questions about retirement investing, becoming an everyday millionaire, go bigger and broader with my man Chris HOGAN on the Chris HOGAN show. I am excited to be able to talk to you all weekend and week out. We're gonna focus on your calls, and it's going to focus on building wealth investing and how to become an everyday millionaire subscribed or the Chris HOGAN show wherever you listen to podcasts. Hey, it's James producer of the Dave Ramsey show. This episode is over the check the episode notes for links to products and services you've heard about during this episode. Thanks for listening.

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Millions of Americans are falling through the safety net, as scientists fear Trumps pressure on FDA

The Daily 202's Big Idea

17:23 min | 5 months ago

Millions of Americans are falling through the safety net, as scientists fear Trumps pressure on FDA

"This episode of the daily tool to podcast brought to you by facebook at Facebook we've taken critical steps to prepare for the US elections. We've more than tripled our safety and security teams implemented five-step at verification and launched in new voting information center learn more at facebook dot com slash about slash elections. Good Morning I'm James From The Washington Post in this is the daily two oh two for Monday. August twenty four. In today's news more than five, hundred, thousand bail in ballots or rejected in the primaries. This can make the difference in battleground states. This fall Kellyanne Conway is leaving the White House after this week's Republican convention. And video shows Wisconsin police shooting a black man multiple times in front of his three tenths. But first. The big idea. President trump announced Sunday that he had helped breakthrough. What he called a regulatory logjam to grant emergency authorization of convalescent plasma to treat covid nineteen he described as powerful therapy that he claimed has an incredible rate of success the announcement at a news conference where trump was flanked by FDA commissioner. Steve Hahn and health, and Human Services Secretary Alex as our drew criticism from physicians and scientists who said their statements misled the. Public by overstating the evidence behind a therapy that shows promise but still needs to be rigorously tested. The Infectious Disease Society of America released a statement noting that while there are some positive signals that convalescent plasma can be helpful in treating individuals with covid. The society believes its benefits need to be demonstrated in clinical trials that randomly assigned patients to receive either plasma or a placebo before it is authorized for wider use. A trump administration official says this announcement followed two weeks of insane internal fights. The person said that trump held more conversations on the issue. Saturday before making the announcement Sunday. Some scientists at the National Institutes of health argued that the efficacy data is not strong enough. At the briefing last night, Han struck a more measured tone than trump stating that convalescent therapy in which the yellowish liquid portion of blood is taken from recovered patients and transfused into ill people had met the standard for emergency authorization, which is a lower standard than full approval while the treatment may have met the FDA's authorization standard. that it may be effective pure safe. Outside scientists said the administration officials who touted a thirty five percent reduction in death risks to non elderly patients who breathing on their own were overstating the conclusions that can be drawn from studies without comparison groups. Trump has been putting extraordinary pressure on federal agencies to test approved treatments and a vaccine against the coronavirus, which is now killed more than one hundred seventy three, thousand Americans. This announcement came a day after the president without evidence accused the FDA of impeding enrollment in clinical trials for coronavirus vaccines and treatments for political reasons. Trump is also now considering bypassing basic safety standards to fast track a UK vaccine ahead of the election, the vaccine which is being developed in partnership between China and Oxford University be given emergency use authorization in October. All this is happening. And it's important. Millions of our fellow Americans, are falling deep into financial crisis as federal stimulus and safety nets vanish. Major recessions are always especially fraught for low income earners whose finances can from tenuous to dire with just one missed paycheck. But as the economy cratered, this spring economists in poverty experts were mildly surprised to discover that the torrent of government support that followed particularly the six hundred dollar week in six hundred dollars a week in expanded unemployment benefits, and that one time twelve hundred dollars stimulus check likely lowered the overall poverty rate. In fact, seventeen million people would have dropped below the poverty line without the five hundred billion dollars in direct intervention. American families. Now though data show, those gains are eroding as federal and action deprives Americans on the financial margins of additional support. If the unemployment rate stays around ten percent and no new stimulus is delivered economists say we can expect poverty rates to climb higher than those observed at the depths of the great? Recession. The poverty threshold for a family of four America is twenty, six, thousand dollars and two hundred bucks a year. Data collected by the Census Bureau show the financial pain. For the last week, we have numbers roughly twenty, nine, million US adults about twelve point. One percent of the population said their household sometimes or often did not have enough to eat during the preceding seven days. About twenty percent of the US population has been food insecure since the pandemic began in March. For Mothers with children twelve and younger the figure is more than forty percent. Forty percent. Increase Flexibility in the supplemented nutrition assistance program which provides food stamps fuelled an unprecedented spike and snap enrollment for March through April six million people became newly eligible for food stamps but the trump administration has recently decided against extending a food stamps waiver that allowed needy families to bypass certification such as providing pay stubs. This move will reduce the number of eligible families in the coming months just as other stimulus measures also expires well. Struggling people are raising rent money on go fund me pages were asking for help with groceries on facebook marketplace in new. Orleans. This weekend there was a sit in stage in front of a courthouse to block fiction hearings with signs urging the local government to cancel rent. One of the Sun said you can't wash your hands if you don't have a sink. My colleagues Hannah Denim and Taylor Telford today tell the story of Karen Smith. Cairns fifty two and she lives in Jupiter. Florida she recently opened the two bedroom townhouse she lives in with her thirteen year old son to a fellow single mom with the daughter. They're all facing eviction much like the twenty two, million other Americans who are currently behind on their rent. Despite the Federal Moratorium that ended July twenty fourth, some landlords are raising rent issuing late fees and initiating eviction proceedings earlier than the federal deadline, which requires thirty days notice for a vixen Karen, lost her job as a US Department of education contractor on March fourteenth and told her landlord right away that the sixteen hundred and fifty dollars a month and month in rent would be a struggle. The landlord initially agreed to a payment schedule. Then on April. Second told Karen that she would be addicted if she was even daylight. Since then Karen and her son who has ehlers Dan Lewis. Syndrome, which affects connective tissue have been living on food stamps and unemployment benefits that didn't arrive until may the state jobless AIDS started at one, hundred, twenty, five bucks a week and was recently dumped two to twenty five. She was earning ninety six thousand dollars a year before. But as a single mom with tens of thousands in student loans, health insurance premiums, and other expenses she didn't have a lot of savings although Karen has a PhD in educational psychology she hasn't been able to find a job in her field and a minimum wage position wouldn't cover the rent. When September first rolls around, that's just next week she doesn't know what the four of them will do. The same goes for their two cats and two dogs which were taken in from others who've already been addicted. Her Son has been urging her to start selling household items to save up for a used mobile home. Karen said he's been pressing her ever since he read that Walmart allows RV's to park in its lots for free. She said she now knows why her great grandmother never wanted to talk about the Spanish. Flu. When this is over she said. None of us will ever want to talk about it. and. That's. The big idea. Here are three other headlines that should be on your radar as we start the week. Number One More than five, hundred, thirty, four, thousand mail ballots were rejected during this year's primaries across twenty three states nearly a quarter of those were in key battleground states for this fall illustrating how missed delivery deadlines, inadvertent mistakes, and uneven enforcement of the rules could disenfranchise voters and affect the outcome of the presidential election the rates of rejection, which in some states exceed those of other recent elections could make a difference in the fall if the White House contest is decided by. A close margin as it was in two thousand sixteen when Donald Trump when Michigan, Pennsylvania and Wisconsin by roughly eighty thousand votes this year according to Tabulations by my colleague Elise feedback election officials in those three states tossed out more than sixty thousand, four, hundred, eighty ballots just during the primaries which saw significant lower turnout than what would be expected in a general election rejection figures include ballots that arrived too late to be counted or invalidated for another reason including voter air. Michigan Secretary of State Jocelyn Benson a Democrat predicted that the number of rejected ballots in her state could double in November compared with the primary when ten, thousand, six, hundred, ninety, four votes were disqualified now. Trump won Michigan in two, thousand, sixteen by ten, thousand, seven, hundred, and four votes. Benson. Noted recently that Black Brown and Asian American communities in the state seem much higher rates. Of ballot rejection. Number two. Kellyanne Conway, the senior adviser to trump and one of his longest serving AIDS is leading the white. House at the end of this month, Conway whose title is counselor to the President was trump's third campaign manager in two thousand sixteen and the first woman to successfully manage a presidential bid to victory. She joined the White House at the start of the term has been one of the. Most visible and vocal defenders ever since she informed trump her decision late last night in the oval. Office. Her husband George Conway Conservative lawyer and outspoken critic of the president is also stepping back from his role on the Lincoln Project an outside Group of Republicans devoted to defeating trump in November. He will also take a hiatus from twitter the venue most often used to attack the president. Kellyanne says that she and George were making this decision based on what they think is best for their four children. Their highschool daughter has drawn attention recently for tweets about her parents and politics on Sunday. However, she also tweeted social media was becoming quote way too much. So she had decided to take a as she called it mental health break Conway's announcement comes on the eve of the Republican National Convention, which starts tonight. Trump's flying down to charlotte and he seeking to gain some momentum for a tough reelection battle ahead. Conway has been intimately involved in convention planning and she's going to speak Wednesday night on the theme. Of Everyday heroes she spent Saturday at campaign headquarters in her personal capacity Georgian Kellyanne became an object to fascination as he ramped up his criticism of the president while she remained a loyal advisor. George has written among other things that trump is mentally unfit to be president. The president has often voiced anger at him and his comments calling him a stone cold loser and the husband from Hell before making her decision conway been in discussions with the trump campaign. Senior advisors is adjusted. She take a leave of absence from the White House to join the re-election effort and wanted her to travel to two states a day between now and the election but she says, she could not envision herself in that role right now spending too much time away from her kids in this hour of need. Number three. The video starts as Jacob Blake rounds the front of a silver SUV on Sunday around five o'clock. PM with to Kenosha Wisconsin police officers following close behind their guns drawn when Blake opens the door and steps inside the officer suddenly fire repeatedly toward his back. At least seven times. Blake is now in serious condition, the officers have been placed on leave in the city of Kenosha declared an emergency curfew after destructive protests rocked the city into the early hours of this morning. This is the latest case of police violence caught on camera in a summer overwhelmed by escalating rounds of protests following George Floyd's death in Minneapolis Wisconsin Governor, Tony Democrat called for greater police accountability is the video spread rapidly through social media. Officers were responding to a domestic incident according to police witnesses told the condition used that Blake was trying to break up a fight and that police I attempted to Taser him. The video shows neighbors congregating outside as to police officers with their guns drawn follow. Blake. as He approached his car as Blake opened, the driver's side door at officer can be seen tugging at his white tank top before multiple shots ring out. The condition news reports the Blake was shot in front of his children. Ben Crump, a civil rights attorney says, Blake's three sons were sitting inside the car in watching. Police have not commented on what led them to shoot finally. In addition to that, there are two natural disasters that were keeping close tabs on. The northern Gulf coast is bracing for a rare one to Hurricane Punch as tropical storms Laura and Marco set their sights between Xena and he's Texas Marco's predicted to scrape the Louisiana coastline on Monday. And is the most immediate threat hurricane warnings were posted from Morgan City in South Central Louisiana to the mouth of the Pearl River between New Orleans and Gulfport Mississippi a tropical storm warning is up to the West from south of Lake Charles to Morgan City. A storm surge warning has been raised from Morgan City East to nearby Luxy Mississippi were ocean water could rise up to six feet above normally dry land, grand isle and far southeastern. Louisiana is under a mandatory evacuation order downtown new, Orleans under a Hurricane Watch and tropical storm warning. To different warnings because of two different storms. The city will probably contend with tropical storm force winds and heavy rains which could cause a flash floodings. The, city's levee system should protect it from the predicted surge although we've heard that before. After Marco Drifts Inland Laura will follow late Wednesday or early. Thursday parts of Louisiana could be affected by the storms twice in three days there's no recorded precedent for this compared with predictions on Saturday. The track forecast for Laura has shifted West Increasing, the threat for western Louisiana and eastern Texas and decreasing, but not eliminating the threat for New Orleans. Houston needs to pay particularly close attention to Laura looking west. Those fires in California have now burned more than one point one million acres in just nine days making their footprint larger than the entire state of Rhode. Island Californians are bracing for more lightning today that could spark ferocious new blazes as wildfires nearing record size continue to barn largely uncontained and a little more than a week storms have set off of fires and given rise to the second and third largest places in the state's history the fires have prompted the evacuation of more than one hundred thousand Californians and fouled the air quality not just. Across California but as far as the mid West thunderstorms are anticipated Monday moisture from what was once hurricane genevieve streams northeastward or it will encounter intense August heat over central and northern California. The storms are expected to produce lightning strikes but little rain which given the extremely dry vegetation at the tail end of the summer dry season is capable of touching new fires. Sadly. Raging fires and columns of smoke aren't the only threats facing the thousands of firefighters working around the clock. This weekend a firefighter in Santa Cruz returned to his work car after hours on the front lines of literal firefight to find that his wallet had been stolen. When he checked with his bank, he learned that his whole account had been drained. The had nothing left. kind of sick monster would do something like that. A cadre of morally bankrupt thieves have been seizing on the evacuations in the Golden State to break into empty homes and abandoned vehicles sheriffs say there. Are a lot of reports that a lot of looting is going on. This is a sad reminder. That ball the last few months have brought out the best in a lot of people people like you. The cascading crises enveloping our country have also brought out the worst in many more. And that's on the daily two. Oh Two for Monday August twenty th thanks for listening to new week. Then you may have noticed we have a new logo. A fresh face for the PODCAST. But this show will always be your go to place for the news and analysis you need to know every. And James Homeland. I'll talk to you. Tomorrow This episode of the daily tool to podcast brought to you by facebook at Facebook we've taken critical steps to prepare for the US elections. We've more than tripled our safety and security teams implemented five-step vacation and launched new voting information center learn more at facebook dot com slash about. Elections.

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