Financial Advisors React to RIDICULOUS Money Clips

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I participated in McDonald's while supplies last.

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Look at me. Look at me here.

Content crew has been busy with some ridiculous financial content.

Everyone, I am so excited to see what the internet has in store for us today.

I'm going to show you how I turn $60 into $1,000.

The first thing you want to do is go to your nearest gas station and pump some gas.

You can cut your job.

Cut your job. I bet.

And now all you got to do is wait for your truck or whatever vehicle you're driving to fill up with gas.

While you wait for your vehicle to finish pumping, you can clean your windshield wipers.

Look at this. It wasn't even $60. That's $58.53.

And now you have a full tank.

You can drive yourself to work for weeks and make some money.

You're not supposed to ruin the money.

You ruined the money.

I might have given him the idea for that.

How often do I say that the best way?

Sometimes you have to even do $23.8 because your first wealth builder is going to be your J.O.B.

He might be a financial mutant that saw our content and actually said,

you know what? Let me make something out of it.

I love that. It's not get rich quick. It's not get rich overnight.

It's, hey, I need to go recognize how do I have a shovel, create an income, have resources,

defer a little bit of those resources through discipline, through saving, through building for the future,

and build for my future self.

I love it.

Well done.

Everything that I wanted to see, I saw this week.

And again, the market is so distracted with so many things.

I'm not. I'm not distracted, guys.

I'm spending about 15 to 20% on this meme stock stuff because it's hot and it's early.

And the one thing that we learn from 21, by the way, I forgot to say this.

He's the most important thing when trading meme stocks, when trading any of this stuff.

The most important thing is being a little bit early.

The last time we did this, I was fortunate enough to aggressively get early on all these trades.

Sometimes I exited early on others like GameStop.

Do you remember the state when I posted my exit on GameStop on Twitter?

And I don't know what happened.

Maybe there was some random algorithm attached to my tweets.

It just triggered some type of domino effect to bigger money.

I don't know, but that was maybe the luckiest trade I've ever made.

It's just, there's nothing.

It's gone.

Yes.

Hey, you want to get rich? Let me tell you a system that I have that's going to blow your mind.

Get in early.

By low, sell hot, you'll dominate the world.

Yeah, that's great.

If you can do it and you can replicate it and you can do it over and over again.

But think about how many meme coins, meme stocks, meme fill in the blanks we've seen over the past five, six, seven years.

And how many of them are the ones that have actually created wealth?

And how many have fizzled into nothing?

We think there's a better mouse trap on a better way to build wealth and is not that.

Here's what buying this Rolex was one of the dumbest yet smartest financial decisions I've ever made.

You see, when I bought this watch back in 2015, at the time it cost me five thousand four hundred pounds.

Why it was one of the dumbest decisions at that time was that I only bought this watch

with the intention of looking cool, but in front of people that ended up not giving a sh**.

The reason why it became one of the best decisions I've ever made is that this Rolex right here, which is a sub-mariner,

is actually one of the most in-demand Rolexes on the market.

This means that going off current market value, I could sell this exact watch right here for around twelve thousand pounds,

which is more than double the original price I paid for it over eight years ago.

And an investment like this completely crushes any kind of returns that I'd ever had on any kind of stock investment or property.

What's the takeaway? What's the learning opportunity? I should go out and buy luxury goods, I should go spend a lot of watches.

Just because a poor financial decision turned out okay for you does not mean that it was a wise financial decision

should replicate. It means you got lucky and you ended up at the right place, the right time, with the right accident,

and the right mistake, and it didn't burn you.

Just because the market value is listed at that doesn't mean that's actually what your net proceeds.

There's a lot of friction or transaction costs to actually turn that Rolex into liquid capital for you.

If you won't prove for this, take it down to a pawn shop, see what they'll give it.

So, Brian, here's what I'm trying to figure out.

He started off by talking about how bad this investment was, but then he went to...

He rubbed his nose in how much money he's made.

So, here's what's not clear of me.

Does he think that this was a wise investment and it was a decision that he would repeat or does he recognize,

oh wow, I made a foolish decision that just happened not to burn me because what I worry is,

okay, I made a bad mistake, but it had a good outcome.

That means I'm going to go make another bad mistake and hope for another good outcome.

Often times in our financial life, it does not work that way.

The average American makes what? 58,000 a year?

The average world wise, like 35,000 a year.

All right, we need him.

Someone working a job, 50 grand a year, if they want to start a business,

how long would it take them to save up a quarter of a million dollars?

With that 50 grand, they'd have to pay taxes on it.

Oh yeah, taxes, living, living...

Yeah, about 10 to 15 years.

10 to 15 years, what do you say?

About maybe 8 to 10 years.

I asked me how long it would take me to go get a quarter of a million dollars from the bank.

Probably a week.

30 minutes.

30 minutes.

Is that all business?

So once you understand how money flows and how debt actually works,

and a debt-operated country, which is America,

you're learning that debt saves you time.

And here's the craziest thing about it all.

Let's say after that 10 to 15 years, you save up that quarter of a million dollars,

and you invest in this business, and it fails.

Can you get that money back to $20,000?

Yes.

What if you fail when it was the bank?

Well, the file bankruptcy you started with.

Oh, there you go.

File bankruptcy.

It's fine.

Did it not add to no money?

There's a lot of small businesses out there that are based upon what work you do.

I think about your attorneys, your accountants, your doctors.

They're all service-based businesses.

Much lower.

It's more about who you are and the skills you have and the service you can offer

than building up a big capital nut to go out there and start a company.

You really only need $250,000 if you're going to be doing manufacturing or something.

And that's a much different game than what I think when we're saying

the startup of a small business.

Man, it's way more easier to go out and borrow money than to save up.

Well, of course.

And in some instances, that's necessary.

Like when it comes to buying a home,

yeah, instead of saving up cash to pay for a home,

it's okay if you save it for down payment, you go out and borrow to be able to do that.

But that's a very different thing than what he's talking about.

He's using the same logic that, man, I could go save up to go buy something at a store

or I could just swipe my credit card.

You know how fast I could swipe my credit card?

Just because you can borrow, just because debt's available,

does not mean that debt is always the right solution for the purchase that you are making.

One, that's not the way the consumption works and two,

that's not the way the business works.

Easier is not necessarily better.

What's the most legit?

Getting rich, quick scheme in history?

Simple.

Figure out how to make a underground in a year and then move to Brazil or Thailand.

Now you're a millionaire.

It's not how much you make.

It's how much buy and power you have.

It's not how much you make, it's how much you spend.

Well, sure, if you want to live in Brazil, if you want to live in Argentina,

you want to live in one of those places.

A lot of us don't necessarily want to live in those places.

We like the place that we live and we like where we have relationships

where we establish it.

Yeah, there's certainly lower cost of living places.

But that's no different than saying, hey, you want to just go find the absolute lowest cost of living place

in the middle of Arkansas and go live there.

How far your money goes, only one part of the life equation that we get to live.

Well, can you go home and record the conversation when you go home

and tell your wife and children that you're moving to Brazil or Thailand?

Let's go.

Tell me how that goes.

Yeah, it's not going to go good.

With kids and schools and all the churches and everything else that you have,

you know, groups in the ground with.

Brian, do you remember when we decided to go all in our YouTube channel?

But we just didn't know if all the hard work was actually going to pay off.

Oh, yeah.

It was a little scary at first because you have all the what ifs.

What if nobody watches our videos?

What if this doesn't work?

What if we're just talking to ourselves?

But thankfully we took the leap and honestly it's been one of the best decisions we've ever made.

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Pay for by Farma.

But this $52,000 Toyota Sienna less than a year ago.

Today, it's fully paid off.

But here's the catch. We didn't use any of our salaries to pay for it.

We have a baby on the way so we wanted to eliminate some of our monthly expenses.

Originally, we were going to pay cash.

But if I were to check for $52,000, that money is gone forever.

So instead, we did something that goes against all traditional financial advice.

We financed the whole thing instead.

But we didn't buy the van until we had enough assets to cover the payments for the van.

For two years, I invested in alternative investments like small businesses and real estate.

By the time we signed for the van, those investments were paying us double the return

than the interest rate on the loan.

Then we used that passive income to aggressively pay down the card notes.

The investments simply paid for our new van.

If I had paid cash upfront, I'd have a paid off van and then no cash in the van.

But because I did it this way, I have a paid off van.

And I still have the assets bringing in monthly income.

Don't buy luxuries with your labor.

Plan ahead and invest in assets and let them pay for your liabilities.

I almost felt like he forced the content creation on this

because he was like, hey, I bought my wife this minivan.

How can we make this somewhat deductible?

So maybe I can deduct a portion of this.

I'll throw out in this video and say, hey, I set up all this, you know,

side hustle businesses over here.

Because I didn't use the $52,000 that I'll pay it back.

It felt kind of clunky to me.

It didn't make sense.

Here's all I said.

If I can save dollars and invest dollars and create passive income,

the passive income that I can create can pay for my living expenses.

That's all he said.

Well, that is the definition of working towards financial independence.

I want to put my money to work and that money is going to work harder than I can.

And the money that money earns can then be used to pay for my living expenses.

That is a true statement.

Now, what he did that was a little more aggressive is rather than waiting

until he had a big bucket of assets and in financial independence.

He said, I'm going to go out and lever.

I'm going to borrow all the money in this van.

I'm going to pay an interest rate on that.

But the money I'm going to create on my passive investments can be greater

and I'm going to play this arbitrage game.

And in this situation for him that worked, but that works until it doesn't work.

A better method is build up a healthy, large base of assets

where then you're not just counting on those passive investments

to pay for a car payment or a note or a loan.

You can actually count on your passive investments, your portfolio,

to pay for your entire life.

That's what it does.

That video did nothing for me like, what do I do on my next dollar

based upon if I took his guidance?

I mean, drop the R.A.

Or what's going to be pressure washing driveways?

What's this thing that's going to actually create the money to pay off the minivan?

I didn't find any action with advice out of that.

We hit upon the idea of co-ownership, which is what Picasso was like.

A home in eighths.

One eighths, two eighths, three eighths.

And then you co-own it with other people.

It's like carpooling.

Time to share your house.

People into a single home that's higher end.

And so it alleviates demand in the mid-tier by aggregating eight people

into the upper price tier.

Most people can't afford a second home.

Many can hardly afford a first home.

It's very expensive to own a second home because of underutilization.

And most second homes are only used six weeks a year.

Why is six weeks relevant?

Well, that's one eighth of a home.

I firmly believe that Picasso is good for communities.

That the problem is empty second home.

Most of those homes are utilized.

Local services and restaurants and bars and wineries.

Other services are used because the homes are highly utilized.

Our typical home's whole home value is around four to eight million.

Or you divide that by eight to get your unit value.

So $500,000 to $1 million is what most people are paying for their Picasso

or one eighth of the home.

Yeah, but can we all just say time share?

He just came up with a time share.

You came up with a time share concept.

You saw what time share.

But for your luxury property.

Hey, let me ask you a question, Ryan.

Do you really think that the problem in our real estate market right now

was a bunch of empty second homes?

Is that the problem?

Hey, for all of you young folks out there,

in between the age of 20 and 40 that are trying to get in your first home,

I think the real estate problem we have right now is empty second homes.

And we need to work to figure out how we solve that.

Well, when I'm trying to solve housing issues,

it's not necessarily for any secondary homes.

I shouldn't need to pay them more.

There should be a different way to get employees to want to stay here.

That kind of investment isn't necessary.

No, we should invest.

Excuse me?

We will give the people a retirement plan.

One where we match the investments.

Yeah, okay, because we can definitely afford matching.

Not all at once.

If they leave after one year, they lose everything.

We match nothing.

Year two, in the most event.

Year four.

Perhaps enough just to make them hesitate.

We don't forbid escape.

You simply attach a price to it.

Okay.

How long until their 401k plan will fully be vested?

I say six, seven years.

Actually, no, make it like three, four, two.

Preserve the common section.

After every bad day that they want to leave,

it becomes a calculation because leaving will feel like theft.

From themselves.

Punishment disguised as a benefit.

I don't think this is wrong.

One of the things that I tell my people is,

hey, I want you guys to be here for a long time.

And I'm going to give you more money to stay here long.

I'm going to give you this much money if you stay here for six years.

I'm going to give you this much money if you stay here for this many years.

It aligns the incentives.

What the employee naturally wants is more money in their retirement account.

What the employer naturally wants is long, tenured employees.

I don't think that's a bad thing.

I think it mutually incentivizes behaviors to align expectations.

Well, and if we went back to the room where this was all invented,

there was this whole thing where we had to find benefit pension plans.

And then they came up with, hey, is there a way that we can do defined contribution

where we're not actually on the hook for what happens 30, 40 years down the road?

There's what?

If you want to get the cameras inside the room, be a flower in the wall.

It was much nerder than that.

But I love that the internet is always rife with tons of financial information,

but not all of it's great.

But you know a great place where you can go get information.

What are you talking about?

I'm headed out right after this to go pick up a new Rolex.

Or that.

Yeah, or you could go to moneyguide.com slash resources.

Check out the plethora of free tools and deliverables we have out there.

Because we really do believe that there is a better way to do money.

We believe that you can do money better.

With that, I'm your host, Brian, joined by Mr. Bo.

Moneyguide.

Let me tell you a system that I have that's going to blow your mind.

Now, hold in.

Lean in.

Because this is all you need to know.