Latest / The Steve Harvey Morning Show / Financial Quarterback: He teaches the value of compound interest, stock tips and how bitcoin really works.

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Financial Quarterback: He teaches the value of compound interest, stock tips and how bitcoin really works. · The Steve Harvey Morning Show

• 0:05
  Speaker 1: Welcome to the show. I am Rashaan McDonald, the host
• 0:07
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  Speaker 1: Money Making Conversations Masterclass. Hi, I'm Rashan MacDonald, our host
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  Speaker 1: guest button. My next guest, I'm Very Excited, is a
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  Speaker 1: prominent financially buyer. Is It recognized by Forbes as one
• 1:02
  Speaker 1: of America's top financial security professionals for three consecutive years,
• 1:06
  Speaker 1: and it's the host of the Financial Quarterback radio show please,
• 1:10
  Speaker 1: Welcome to Money Making Conversations Masterclass. Josh Jolynski.
• 1:14
  Speaker 2: How you doing, Josh, great Rashan, thanks for having me.
• 1:17
  Speaker 1: I'm gonna make some public here, Josh. I'm over sixty, okay,
• 1:20
  Speaker 1: I'm over sixty okay, And you.
• 1:23
  Speaker 2: Don't look at day over fifty.
• 1:26
  Speaker 1: I'm over. I'm over, brother, I'm over. And what happens
• 1:29
  Speaker 1: is in my peer group, you know, we get to
• 1:32
  Speaker 1: a certain point fifty, forty, especially forty, we started getting
• 1:35
  Speaker 1: nervous fifty and we haven't figured out what we're gonna do.
• 1:38
  Speaker 1: And they think these they think social Security has a
• 1:40
  Speaker 1: plan waiting on them that's gonna save their lives. Where
• 1:44
  Speaker 1: has this this false theory that social Security has a
• 1:49
  Speaker 1: check that you will be able to live on. Where
• 1:52
  Speaker 1: did they come from?
• 1:53
  Speaker 3: I have no clue. I was gonna say the devil,
• 1:59
  Speaker 3: you know. I think the idea was maybe that their
• 2:04
  Speaker 3: grandparents lived on Social Security after they paid off their house.
• 2:10
  Speaker 3: You know, maybe the depression era mindset. I remember my
• 2:13
  Speaker 3: grandmother in North Carolina would live under social Security checks,
• 2:19
  Speaker 3: so maybe that was where it was. You know, so
• 2:23
  Speaker 3: I don't know who's living on so old security today though.
• 2:26
  Speaker 2: You know, maybe it came from twenty forty years ago,
• 2:28
  Speaker 2: right now.
• 2:29
  Speaker 3: My grandmother, you know, she passed away in the nineties,
• 2:31
  Speaker 3: so maybe the eighties, the nineties. But I don't know
• 2:34
  Speaker 3: anybody living on Social Security today.
• 2:36
  Speaker 1: You can't. You can't. Let's go, let's clear that up.
• 2:39
  Speaker 1: On this show. You listening to Josh, she's the financial quarterback,
• 2:43
  Speaker 1: popular show on Park, popular packcas you get him on
• 2:46
  Speaker 1: Spotify downloaded. But more importantly, the information that you're giving
• 2:50
  Speaker 1: me on this show I use. When I heard words inflation,
• 2:54
  Speaker 1: We're just talking about everyday people, Josh, you know, and
• 2:57
  Speaker 1: they run for office. You listen to the six o'clock
• 3:00
  Speaker 1: or seven o'clock news, they talk to the word inflation.
• 3:03
  Speaker 1: What exactly is inflation? All I know is that my
• 3:06
  Speaker 1: gas is high, eggs is six dollars. They used to
• 3:09
  Speaker 1: be cheaper than that. I've shopped with coupons now and
• 3:12
  Speaker 1: the coupons don't help value like they used to. And
• 3:15
  Speaker 1: then they come up they talk about, well, you know,
• 3:17
  Speaker 1: I think it's September. Of September, they said that inflation
• 3:21
  Speaker 1: was under control. We can drop the interest rate, but
• 3:24
  Speaker 1: to control interest we have to raise the interest rate.
• 3:27
  Speaker 1: Please explain to me Rashon McDonald and my audience. You're
• 3:31
  Speaker 1: the financial quarterback, Josh, what is going wrong? When I
• 3:35
  Speaker 1: hear interest rate going up to stop something inflation, but
• 3:39
  Speaker 1: my prices keep going up? How's that working well?
• 3:43
  Speaker 3: I think the inflation economists say is getting better, right,
• 3:49
  Speaker 3: But I don't know if we feel that it's getting
• 3:52
  Speaker 3: better because there was such a jolt of inflation for
• 3:58
  Speaker 3: the last four or five years due to COVID.
• 4:01
  Speaker 2: But first, let's talk about what inflation is. Inflation is.
• 4:06
  Speaker 3: There's so many definitions, but I'll go to Milton Friedman's
• 4:11
  Speaker 3: definition on inflation. If what is his definition on inflation?
• 4:18
  Speaker 3: I heard this back in the day, and I remember
• 4:22
  Speaker 3: inflation is always and everywhere a monetary phenomenon. Yes, what
• 4:30
  Speaker 3: the heck does that mean? And someone said, if velocity
• 4:34
  Speaker 3: is about well, I don't want to this. That sounds confusing,
• 4:37
  Speaker 3: but let me make it simple for you. Inflation is
• 4:41
  Speaker 3: when you go to the grocery store, okay, and you
• 4:44
  Speaker 3: get that bag of chips and there's half the amount
• 4:46
  Speaker 3: of chips that there was five years ago. Some people
• 4:49
  Speaker 3: call that shrink inflation. It's basically your dollar doesn't go
• 4:54
  Speaker 3: as far as it used to. A stamp was how
• 4:57
  Speaker 3: much twenty years ago versus today? A gallon of milk
• 5:01
  Speaker 3: was so much? And any time there is something in
• 5:07
  Speaker 3: plentiful supply.
• 5:10
  Speaker 1: I love your.
• 5:10
  Speaker 3: Questions because they get me to think, like, how do
• 5:12
  Speaker 3: I make this simple.
• 5:14
  Speaker 2: For the everyday American? Right, we're like in these bubbles
• 5:18
  Speaker 2: and you just hear it. You don't even know what.
• 5:19
  Speaker 3: It is, but I think it's too many dollars chasing
• 5:26
  Speaker 3: too few goods. So COVID stimulus, Democrats Republicans just giving
• 5:35
  Speaker 3: money away in COVID stimulus one and two. This is
• 5:39
  Speaker 3: both parties have caused us this problem in an effort
• 5:44
  Speaker 3: to save us from COVID or whatever. So what happened
• 5:47
  Speaker 3: is the government printed all this money. Right, we all
• 5:51
  Speaker 3: got our stimmy checks.
• 5:52
  Speaker 2: I don't know if I got to people got PPP.
• 5:55
  Speaker 3: If they're business owners, and they said, wow, I have
• 5:59
  Speaker 3: all this money. I'm gonna buy new TV. I'm gonna
• 6:02
  Speaker 3: buy a new car. And we felt rich for like
• 6:06
  Speaker 3: a day, and now we feel poor because that's what
• 6:10
  Speaker 3: inflation does. The Roman Empire cave due to this. It's
• 6:14
  Speaker 3: called bread and circuses because the natives are getting restless, right,
• 6:20
  Speaker 3: they don't want us to riot during COVID. So what
• 6:23
  Speaker 3: they do, here's a check, here's a check for the lockdowns,
• 6:26
  Speaker 3: for your trouble. And by the way, this stuff will
• 6:28
  Speaker 3: happen more and more if people on both sides really
• 6:31
  Speaker 3: need to wake up to this, because this is how
• 6:34
  Speaker 3: the government will control us, manipulate us in the future,
• 6:37
  Speaker 3: and it will how it's how.
• 6:39
  Speaker 2: Come everybody feels poor even though they make more than
• 6:41
  Speaker 2: they made five years ago. And if they don't make.
• 6:44
  Speaker 3: More then it's even worse, right because people always say, oh, well.
• 6:48
  Speaker 2: The answer is I remember Bernie Sanders would say, what
• 6:50
  Speaker 2: is he say we.
• 6:51
  Speaker 3: Want fifteen dollars minimum wage, that'll save everybody. Now we
• 6:55
  Speaker 3: say we want twenty dollars minimum wages. But what's gonna
• 6:58
  Speaker 3: happen or the tariffs are any of these things? Don't
• 7:02
  Speaker 3: be fool people. This just gets passed off.
• 7:06
  Speaker 2: To the consumer. The people.
• 7:09
  Speaker 3: You know you worked for IBM pre many years, six years.
• 7:13
  Speaker 3: They're a smart company. If their cost goes up, what's
• 7:16
  Speaker 3: gonna happen? They're gonna pass that on to their customers.
• 7:19
  Speaker 1: Yes, you will.
• 7:20
  Speaker 3: Coachs are gonna do the same thing. Hershey's gonna do
• 7:23
  Speaker 3: the same thing. Chlorax is gonna do the same thing,
• 7:26
  Speaker 3: not because they're greedy, because they have to. Their costs
• 7:30
  Speaker 3: of goods and services go up. So inflation is I
• 7:35
  Speaker 3: like that. Actually, definition is always an ever monetary phenomenon.
• 7:38
  Speaker 3: But it's really too much dollars chasing too few goods,
• 7:42
  Speaker 3: and any time you have a lot of something in circulation,
• 7:46
  Speaker 3: it makes it worth less. Remember the beanie baby craze.
• 7:50
  Speaker 3: My months she was into collecting beanie babies. We grew
• 7:55
  Speaker 3: up poor, but for some reason, my mother thought the
• 7:58
  Speaker 3: beanie babies were gonna get her out of poverty, right,
• 8:02
  Speaker 3: so she bought beanie babies.
• 8:05
  Speaker 2: She'ld have bought stock, but for.
• 8:06
  Speaker 3: Some reason she bought beanie babies, thinking that that would
• 8:12
  Speaker 3: save her from poverty. So she would save up what
• 8:16
  Speaker 3: she could and she'd buy beanie baby, and then she'd
• 8:19
  Speaker 3: buy another one.
• 8:21
  Speaker 2: And then she passed.
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  Speaker 3: Away a few years ago, And I remember I had
• 8:24
  Speaker 3: all these buckets of beanie babies and I kept them
• 8:27
  Speaker 3: just because it reminds me of that story of my
• 8:29
  Speaker 3: mother's love trying to do something to get her family ahead.
• 8:33
  Speaker 3: But why did the beanie baby craze not get successful?
• 8:36
  Speaker 3: Because they started making too much of me it's the
• 8:39
  Speaker 3: same thing with the dollar.
• 8:40
  Speaker 1: It's a great movie. I saw why that happened. It
• 8:44
  Speaker 1: was greed and too many beanie babies. It made it.
• 8:47
  Speaker 1: It wasn't rare anymore. And that's why the system fails itself.
• 8:52
  Speaker 1: But you know we I'm know. I come from the
• 8:57
  Speaker 1: inner city. You know, six sisters, two brothers, two bedroom,
• 9:00
  Speaker 1: shotgun house, so similar to your upbringing. Didn't have nothing.
• 9:04
  Speaker 1: And as you grow older, you know, you hold on
• 9:06
  Speaker 1: to values and savings accounts. You know, you put your
• 9:11
  Speaker 1: money in savings, and you hear the word c D,
• 9:13
  Speaker 1: put your money into CD. But I'm gonna tell you something.
• 9:16
  Speaker 1: It wasn't until I got older I heard the word
• 9:19
  Speaker 1: compound interests. And when I started really understanding compound interests,
• 9:25
  Speaker 1: and I want you to explain it, because you're the expert.
• 9:28
  Speaker 1: Why isn't that pushed out more as a value component.
• 9:32
  Speaker 1: I hear stock, I hear stock stocks, socks, stocks stocks,
• 9:35
  Speaker 1: but I never hear compound interests as a value way
• 9:40
  Speaker 1: to secure your savings for long term opportunities. The floor
• 9:43
  Speaker 1: is your.
• 9:44
  Speaker 3: That's beautiful, Einstein said. The miracle of compounding.
• 9:49
  Speaker 2: It is attributed to eins. Some people don't know if
• 9:51
  Speaker 2: he really said it.
• 9:52
  Speaker 3: Compounding is the eighth wonder of the world. But what
• 9:56
  Speaker 3: is compound interest? It's basically a doubling every so many years, right,
• 10:04
  Speaker 3: And there's something called the miracle of compound interest. And
• 10:06
  Speaker 3: then there's something called the rule of seventy two, which
• 10:09
  Speaker 3: if you have a dollar and you earn seven percent
• 10:14
  Speaker 3: a year, you take seventy two you divide it by seven.
• 10:19
  Speaker 3: It takes about ten years for a dollar to double
• 10:24
  Speaker 3: at seven percent interest. If you earn ten percent a year,
• 10:31
  Speaker 3: it takes a dollar about seven years to double because
• 10:35
  Speaker 3: seven goes into seventy two about ten times. Compound interest
• 10:41
  Speaker 3: is very simple.
• 10:43
  Speaker 2: But why do we not get taught it?
• 10:45
  Speaker 3: I think it's because banks and other wealthy people don't
• 10:49
  Speaker 3: want you.
• 10:50
  Speaker 2: To know about it. You remember that guy Kevin Trudeau.
• 10:52
  Speaker 3: You know natural cures. They don't want you to know
• 10:55
  Speaker 3: about it. I don't know if it's conspiratorial.
• 10:59
  Speaker 1: But saying that, I'm not saying this is Josh. I'm
• 11:01
  Speaker 1: not using the word, and I.
• 11:02
  Speaker 2: Know there might be an element where it is.
• 11:06
  Speaker 1: Right.
• 11:06
  Speaker 4: Please don't go anywhere. We'll be right back with more
• 11:10
  Speaker 4: money making conversations Masterclass. Welcome back to the Money Making
• 11:19
  Speaker 4: Conversations Masterclass hosted by Rashaan McDonald.
• 11:24
  Speaker 1: Because I know about stocks. I hear about stocks. It's
• 11:27
  Speaker 1: very complicated, you know. But if you tell me, Rashan,
• 11:30
  Speaker 1: you know, save five hundred dollars a month or whatever. Okay,
• 11:34
  Speaker 1: that's and you know the end of the year, you
• 11:36
  Speaker 1: got six thousand dollars. Okay, that goes in you. But
• 11:40
  Speaker 1: every time you put in the bank is compounding the
• 11:42
  Speaker 1: interesting interest interests, and you're doubling. You're doubling your doub
• 11:45
  Speaker 1: and then you just just don't mess with it. Just
• 11:47
  Speaker 1: keep saving and just keep saving and guess what, you
• 11:51
  Speaker 1: will reap the benefits of a tremendous financial opportunity. But
• 11:57
  Speaker 1: I never hear that. I hear invest in stocks. When
• 12:00
  Speaker 1: I sit down with my financial advisor, he went, do
• 12:03
  Speaker 1: you want to be aggressive? Conservative? Or you know what
• 12:07
  Speaker 1: you want to you know, just stand pad, Oh you
• 12:09
  Speaker 1: want to do a mix. That's what I hear. And
• 12:11
  Speaker 1: I'm sure that's a standard.
• 12:12
  Speaker 3: No, you need a new financial advisor number one, okay,
• 12:18
  Speaker 3: And we're.
• 12:18
  Speaker 1: Going to talk about that because people, what is a
• 12:21
  Speaker 1: good financial advisor? Did Josh?
• 12:23
  Speaker 2: What is I think the good financial advisor? Number one?
• 12:26
  Speaker 2: Educates their clients on the value of compounding.
• 12:29
  Speaker 3: That that is exactly why you should have a financial advisor, because.
• 12:33
  Speaker 2: The goal in life, yes, sir, is.
• 12:36
  Speaker 3: Then to not interrupt that compounding. People want to interrupt
• 12:41
  Speaker 3: their compounding when there is a new political regime. People
• 12:46
  Speaker 3: want to interrupt their compounding due to whatever their kids
• 12:51
  Speaker 3: go to college. People want to interrupt their compounding to
• 12:53
  Speaker 3: buy a new car. People want to interrupt their compounding
• 12:57
  Speaker 3: to buy a bigger house.
• 12:59
  Speaker 2: Yes, and the number one.
• 13:01
  Speaker 3: Way you get wealthy is compound interest and not interrupting.
• 13:07
  Speaker 2: So I would argue that the number one reason.
• 13:10
  Speaker 3: But you're right, the financial industry has gone into do
• 13:13
  Speaker 3: you want to be a conservative?
• 13:15
  Speaker 2: Moderate? Aggressive? You're You're right on, come.
• 13:17
  Speaker 1: On, Josh, you know you know that's typical they sit
• 13:20
  Speaker 1: down with that little That is true.
• 13:21
  Speaker 2: We do it too.
• 13:23
  Speaker 3: But that's only as like a c ya right, right,
• 13:27
  Speaker 3: it's not. But but your number one job as an advisor,
• 13:32
  Speaker 3: the number one people say, what is the number one
• 13:33
  Speaker 3: thing I look at in financial advisor? Do they educate
• 13:36
  Speaker 3: you on key concepts that you need to know about?
• 13:38
  Speaker 3: Because here's the thing you said, Well, why your questions
• 13:43
  Speaker 3: are really good because you could have a whole show
• 13:46
  Speaker 3: on one question that you give. But why part of
• 13:50
  Speaker 3: me thinks it's a conspiracy. I don't know why.
• 13:53
  Speaker 2: Right part of me thinks.
• 13:55
  Speaker 3: It's because that's how banks make money, not that banks
• 13:59
  Speaker 3: surrey evil and that can be a trope sometimes.
• 14:02
  Speaker 2: I'm not saying that. I'm just saying what does a
• 14:07
  Speaker 2: bank do?
• 14:08
  Speaker 1: Right?
• 14:09
  Speaker 2: I want my clients to think like they are the bank.
• 14:13
  Speaker 1: And I would tell you this, js. I will tell
• 14:15
  Speaker 1: you this, Josh. I've had at least six different financial
• 14:20
  Speaker 1: advisors sit in front of me. I can remember when
• 14:22
  Speaker 1: I was thirty and I was invested in I got
• 14:26
  Speaker 1: that conservative, aggressive, moderate speech. You know, Okay, I want
• 14:30
  Speaker 1: to be a little aggressive. I'm young. I'm young, but
• 14:33
  Speaker 1: nobody told me. Nobody drill listened to my head, Josh, Rashank,
• 14:37
  Speaker 1: this is me. Listen to meat. Just compound interest. Don't
• 14:42
  Speaker 1: touch it. I mean, I mean with their fistballed up.
• 14:46
  Speaker 1: I know, Cya, just like you said. But Rashan, believe me,
• 14:49
  Speaker 1: do not touch this money over here. This is your
• 14:53
  Speaker 1: compound interest money. If somebody would have told me this
• 14:56
  Speaker 1: is your compound interest money, this is your stock money.
• 14:59
  Speaker 1: If you just said that when you're talking about the
• 15:01
  Speaker 1: word conservative or you want to be moderate with your money.
• 15:06
  Speaker 1: That word never came out, because I'm considering that's the
• 15:09
  Speaker 1: conservative approach to investment. Is the compound interest that never
• 15:14
  Speaker 1: came up, and that annoys the heck out of me.
• 15:17
  Speaker 1: And when I come to the financial quarterback, I'm not
• 15:19
  Speaker 1: seeking salvation because the hell Mary passed that you could
• 15:23
  Speaker 1: probably throw to me is passed.
• 15:26
  Speaker 2: But you got us compounding.
• 15:28
  Speaker 3: If you're listening today, you're watching today and you and
• 15:32
  Speaker 3: you kind of think that you're too late, too old,
• 15:35
  Speaker 3: you're fifty or sixty or seventy, just start the compound
• 15:40
  Speaker 3: interest cycle.
• 15:43
  Speaker 2: It's a great listen.
• 15:44
  Speaker 1: Thank you. Now, I gotta go here, brother, at that
• 15:47
  Speaker 1: time of the year. Health insurance, okay, you know, I
• 15:50
  Speaker 1: just got to notice the other day, h manner. You know,
• 15:54
  Speaker 1: they disenrolling me. They're not carrying my lane of insurance.
• 16:00
  Speaker 1: And I gotta find I gotta scramble to find somebody.
• 16:03
  Speaker 1: I got employees. I gotta get a new plan for
• 16:05
  Speaker 1: my employee. What is going on in the financial community
• 16:09
  Speaker 1: with health insurance, Josh.
• 16:11
  Speaker 3: Well, A lot of the government mandates are having an
• 16:16
  Speaker 3: unintended consequence of health insurance companies aren't making money anymore
• 16:22
  Speaker 3: because they have to have everybody in the system with
• 16:25
  Speaker 3: pre existing conditions, so a lot of people are getting out.
• 16:28
  Speaker 2: See, we have a fundamental problem in America.
• 16:30
  Speaker 3: We everybody wants health care, but they don't want to
• 16:34
  Speaker 3: pay for it, right, So what's happening is I think
• 16:37
  Speaker 3: we need a fundamental restructuring of health care in America.
• 16:42
  Speaker 3: I don't I didn't hear anybody talk about. And we
• 16:45
  Speaker 3: just had an election, and the number one problem is
• 16:48
  Speaker 3: costs are going up, I know, and nobody's talking about,
• 16:52
  Speaker 3: well how do we contain costs? I have a plan,
• 16:55
  Speaker 3: but I'm not an elected dog catchers, so I don't know. Well,
• 17:00
  Speaker 3: nobody would listen to me.
• 17:01
  Speaker 1: But well, please, I got my ear open, at least
• 17:07
  Speaker 1: one ear open. What will be an option you visionary?
• 17:13
  Speaker 1: Because right now we have a problem.
• 17:14
  Speaker 3: I think the only way they're going to do it
• 17:16
  Speaker 3: is to let eighty percent of the healthcare insurance company
• 17:22
  Speaker 3: companies do whatever they want.
• 17:23
  Speaker 2: They get to discriminate on the basis of health.
• 17:26
  Speaker 3: People forget this insurance is by its very nature discriminatory,
• 17:30
  Speaker 3: meaning you have an insurance company saying we don't want
• 17:34
  Speaker 3: this risk because we believe you're going to get heart attack,
• 17:36
  Speaker 3: cancer stroke.
• 17:37
  Speaker 2: We do want this risk because you're a healthy person.
• 17:41
  Speaker 3: And one of the things that Obamacare had originally that
• 17:46
  Speaker 3: was actually a Republican idea, was that everybody had to
• 17:50
  Speaker 3: buy health insurance, whether you were young or old, and
• 17:54
  Speaker 3: they would have healthy people in the pool.
• 17:57
  Speaker 2: But they stopped that for some reason.
• 18:00
  Speaker 3: So if we're gonna have this kind of mix and
• 18:03
  Speaker 3: match plan, I think we need to have two options.
• 18:06
  Speaker 3: One is a health insurance company led plan where they
• 18:08
  Speaker 3: get to kick anybody off that they want to. What
• 18:11
  Speaker 3: is that going to do. That's going to cause the
• 18:13
  Speaker 3: costs to go down because they're going to only ensure
• 18:16
  Speaker 3: healthy people. Now what about the unhealthy people? Then they
• 18:19
  Speaker 3: would get a government kind of like an expanded Medicaid
• 18:23
  Speaker 3: m H.
• 18:24
  Speaker 2: And then go and then.
• 18:26
  Speaker 3: Doctors, because this is key because we have this in
• 18:28
  Speaker 3: New Jersey. We have NJ Family Care. No good doctor
• 18:31
  Speaker 3: wants to take NJ Family Care, which is like Medicaid,
• 18:33
  Speaker 3: they don't call it medicaid anymore. So in my plan,
• 18:38
  Speaker 3: all doctors would get they would have to take eighty
• 18:40
  Speaker 3: percent healthy people, twenty percent poor and indigent and unhealthy,
• 18:45
  Speaker 3: and they get a rite off for the ten or
• 18:47
  Speaker 3: twenty percent that they take that can't afford them.
• 18:51
  Speaker 2: And I don't know anybody would be against that planet.
• 18:53
  Speaker 3: It helps, it helps the poor, it helps those who
• 18:57
  Speaker 3: are sick, and it helps insurance come keep costs lower
• 19:01
  Speaker 3: because then they get to discriminate, which is what an
• 19:03
  Speaker 3: insurance company does.
• 19:05
  Speaker 1: You know, he just brought up the Obama character.
• 19:07
  Speaker 3: And I don't mean racial discrimination. I mean discerning of
• 19:12
  Speaker 3: risks people. Here's the thing, if you were out of
• 19:16
  Speaker 3: insurance company, you'd only want to ensure healthy people.
• 19:20
  Speaker 1: Well, you're in the money making business, and so you
• 19:22
  Speaker 1: have to look at your bottom line and the bottom line.
• 19:24
  Speaker 1: I'm getting kicked out because I'm not making any I'm
• 19:28
  Speaker 1: hurting their bottom line, and so somewhere along the line
• 19:32
  Speaker 1: there has to be a decision made on how you
• 19:33
  Speaker 1: can make money and still ensure people who they deem
• 19:36
  Speaker 1: healthy and won't be that's by the way. I remember
• 19:40
  Speaker 1: when I was young, I had Triple I still have
• 19:42
  Speaker 1: Triple A, and I had a nineteen seventy three cutlass,
• 19:47
  Speaker 1: and every three months I had to call them and
• 19:49
  Speaker 1: tell them, come charge my battery, Come charge my battery.
• 19:53
  Speaker 1: Finally I got a letter from Triple A. They said,
• 19:55
  Speaker 1: excuse me, either you need to buy a new car,
• 19:59
  Speaker 1: or we can't come and charge your batteries no more,
• 20:03
  Speaker 1: because you had exceeded, in their mind, the bottom line,
• 20:07
  Speaker 1: the model that they had put in place. And so
• 20:10
  Speaker 1: when I hear that, people need to understand that there's
• 20:13
  Speaker 1: always a cut off poem where they said, you know
• 20:16
  Speaker 1: some we like to keep your money because what you
• 20:20
  Speaker 1: heard in our bottom line. And so when people use
• 20:22
  Speaker 1: the word discriminatory, they use the word. In the end,
• 20:26
  Speaker 1: we are already business of making money. We want people
• 20:29
  Speaker 1: to make money so we can get services. If we
• 20:31
  Speaker 1: don't get those services, then either they may file bankruptcy
• 20:35
  Speaker 1: or they close. If they close, we don't get their
• 20:37
  Speaker 1: services anyway, and you won't have their services. You know,
• 20:39
  Speaker 1: would anybody have their services, which means that it becomes
• 20:42
  Speaker 1: a monopoly. Because if we don't have competition and independent
• 20:46
  Speaker 1: voices out there and it shrinks, then we've created a
• 20:49
  Speaker 1: bigger problem. And I look at these things when I
• 20:52
  Speaker 1: talk to you, Josh, and you know, I'm so fortunate
• 20:55
  Speaker 1: to be able to have a guy with your financial
• 20:57
  Speaker 1: mindset who's been there, done that. Like I said, I'm
• 21:00
  Speaker 1: just immediate. I'm just a voice that that comes on
• 21:03
  Speaker 1: this show and brings experts like you to be able
• 21:05
  Speaker 1: to deliver information that people can research. Now, the Financial Quarterback,
• 21:11
  Speaker 1: how can we find you? And where about with your podcasts?
• 21:14
  Speaker 3: Go to Apple or Spotify Just search for my ugly
• 21:18
  Speaker 3: mug the Financial Quarterback and get the subscribe button. And
• 21:23
  Speaker 3: if you like the show, give us a review.
• 21:25
  Speaker 1: Well, I'd like to show my brother and I really
• 21:27
  Speaker 1: appreciate you coming on Money Making Conversation master Class. You know,
• 21:30
  Speaker 1: I don't know if you got me mad, but you
• 21:32
  Speaker 1: got me in light. You hear, I'm gonna tell you something.
• 21:34
  Speaker 1: You allowed me to vent Josh. You know, you allowed
• 21:36
  Speaker 1: me to go back thirty years, and I'm gonna say
• 21:39
  Speaker 1: that I made mistakes because some people say, hey, you're
• 21:41
  Speaker 1: doing pretty good. But I know I cut it down
• 21:43
  Speaker 1: a little bit better. If I just held old, it
• 21:46
  Speaker 1: just compound interests. But I didn't. Just like I said,
• 21:50
  Speaker 1: I got out of the boat. I sold the stock,
• 21:53
  Speaker 1: I sold home Depot, I sold Apple, I sow.
• 21:58
  Speaker 2: Entail.
• 21:58
  Speaker 1: I sold all those stocks because guess what, I just
• 22:01
  Speaker 1: stick to the plan and the bottom line. When you're
• 22:03
  Speaker 1: talking to the Financial Quarterback, It's all about a plan, correct.
• 22:06
  Speaker 2: Exactly and sticking to the plan.
• 22:09
  Speaker 1: I appreciate you. We talked sooner. Man. Thank you for
• 22:11
  Speaker 1: coming on Money Making Conversations Masterclass.
• 22:13
  Speaker 2: Thanks so much for Sean.
• 22:15
  Speaker 1: This has been another edition of Money Making Conversation Masterclass
• 22:19
  Speaker 1: posted by me Rashaun McDonald. Thank you to our guests
• 22:22
  Speaker 1: on the show today and thank you O listening to
• 22:24
  Speaker 1: audience now. If you want to listen to any episode
• 22:27
  Speaker 1: I want to be a guest on the show, visit
• 22:29
  Speaker 1: Moneymaking Conversations dot com. Our social media handle is money
• 22:33
  Speaker 1: Making Conversation. Join us next week and remember to always
• 22:36
  Speaker 1: leave with your gifts. Keep winning.