Why 99% of Investors Are Paying the Wealthy Without Knowing It

0:00And essentially what it did was it proved mathematically that um most people will not be able to reach their financial goals. Most investors are on the paying side but they don't know. They think they're making money but they're not. The secret sauce is in matching the right financing with the right asset. If you have a small amount, no matter where you invest it, it doesn't make a dent in your life.
What is up be wealthy crew? Welcome back to the Be Wealthy Podcast. I'm your host, Brett Tanner. And today's episode is is especially exciting for me is I get to introduce you and have a conversation with one of the authors that wrote a book that had a massive impact on my life. The book's called The Banker's Code. The author is George Antone. He's the founder of finance. He's wrote three books. He's a financial strategist. and he was actually involved in the Quicken financial product that allowed him to have this unlock on what actually creates wealth. Put everything

1:02away, lock in for the next hour and 15 minutes on my incredible conversation with George Antone. Let's jump in. George Antone, he's here with us today. George, is an honor, a treat, uh, and I'm so grateful you're here. So, thanks for being here.
Thanks, Brett, for having me. It's it's my honor and, uh, it's always great to be with you and your group. So, thanks for having me.
Well, so from I mean you're you're the founder of finance, you know, financial strategist. You worked on Quicken. You're a a best-selling author of three incredible books, which by the way, I want to encourage all of our listeners, you buy the banker's code first and then read everything that George puts out cuz he's a true treasure. Um, and to get to have you come and you you've spoke at our mastermind and you and I have connected offline and and you know, we've got a friendship now. It's just so cool to I love your education. Uh I've got to see the results firsthand, not just for myself, but for others. And it's um it's just so great that message is lost, right? And we talk so much on this podcast that the wealthy are doing

2:07things differently, right? They're playing just a totally different game.
But I want to go back to how did George become George, right? So, you know, give us some of your background. And you you actually grew up in in Lebanon.
Yes. Yeah. I um you know when I was growing up, everyone around me was an entrepreneur. My dad, my uncles, the family, we had a lot of entrepreneurs. And I've always been excited or interested in in entrepreneurship. And one day my dad when I was 15 asked me to join him uh part-time after school to come and work with him. He had he owned a lot of businesses. And it was such an honor to be like working with my dad. And so at 15, I started working with with my dad and it was incredible. Like I said, quite a few businesses and it was incredible. Um and really that started shaping who I am uh with that, you know, working after after school. That was incredible. So that's really how it all started.
What were, you know, some of the in the

3:10early days, right, being there and he's got this collection of businesses. What were some of the lessons maybe you saw as a 15-year-old that you were like, "Oh, this is that's impactful."
You know, I um I'll tell you it was he he had everything systemized. um everything. He had obviously u a lot of staff but also everything was so systemized and I realized I was sort of logging into a system and I just had to know how to operate certain things within the system and how to to uh he was extremely structured um and uh it really helped me uh understand the importance of systems. In fact, what one thing that happened is when I turned 18, well, when I was 18 years old, um he unex unexpectedly passed away. Um and suddenly we had myself 18 at the time and my two brothers 17 and 15 and my mother we had to take you run all these businesses, take care of everything. And because I had learned systems,

4:13it was so much easier to to to make sure like we took over and we had to shut down a few businesses or whatever. But really most of the businesses were were were unaffected and we kept running the businesses all because he had built the systems and I had learned about those systems. So it was incredible and that's when I realized the importance of systems.
Yeah. What a um what a great way to learn that though that hey there's there's two ways to be an entrepreneur. One way is just you wake up every day and run really hard and wherever you get pulled
and the other way there's a structured approach that everything's a system done in a sequential order.
Y
um that makes so much sense now as I've seen as a lesson as I've seen through your work.
Yeah.
That most of the things you teach if not all are systems that we could that everyone could learn and adopt.
Yep.
If they wanted to. So you you've got these lessons and at some point what makes you move to the US at age 18? you know when he had passed away um right before that uh I had promised him and my

5:17my my parents that I would work for the largest software company in the world at the time I I said that I don't know which one it was which was Microsoft I end up working there and then I had told him I was going to get uh because he always said to us I'll provide you with everything all I'm asking from you is to have a degree from a from a university because he never had a tense. And so I came here to get that degree for for him essentially. Um, and then really work at Microsoft because I had promised that. And sure enough, I worked there, but I was intending of going back. But really what happened is I came here and I fell in love with this country and the possibilities and really that's how I I end up coming here. It's just because of a promise to my dad. Was it you I mean I got to imagine it's a little eye opening right coming from just there's just it's a new culture it's a just a diff anywhere you go to you know when I travel the world right it's just a different there's a different place there's a different way of doing everything

6:19
what was it like you know you you grow up in Lebanon you come to the United States like what were some of the just the eye opening things that that once you got here that you got to experience
you know it's funny it was it was definitely a shock um one of the big things um you know we were very much about community and family and I show up here and I realized the importance of self self-reliance you know I had to do everything learn everything on my own and um uh it was definitely a shock but also what I loved about this place too is that everything was organized everything was structured in other words in in back home everything was very chaotic over here you would you'd wait for the bus and you knew at 8:15 it was going to be there on time everything was very organized and um so it it was you know it was very different obviously and uh a lot of good things and a lot of different things uh like I said so uh it was definitely a shock it took me about a year to adjust um but it was

7:22incredible
so you get here you were you you get with Microsoft right you wanted to work at the biggest software company in the world you did that now how did you go from there because I know you were instrumental in in Quickett and Quicken Financial. How did you what was the the timeline to go from Microsoft over to to Quick?
So I I worked uh so I went to college um and worked at Microsoft what in 1990 911 something like that and then later on one day uh I used to work in uh computer gaming. Um, one day I decided, you know what? I'm sick and tired of uh games because I would literally play games all night and work on games all day. And um,
hold on. What was the game? I got to know. What was the What was your favorite games? One of them was uh, Sim City Online. So,
okay.
Yeah. So, um, I worked on a lot of games, but what happened then is um, I decided I loved finance and I wanted to work at Intuit. So, I literally went in there and I told them

8:26I said, "Um, you guys need me, but you don't know it yet." And they're like, "What do you mean?" I said, "You need me, but you don't know it yet." And, uh, and I said, "Specifically the Quicken Group, cuz I wanted to work for Quicken." And sure enough, I end up getting the job 6 weeks later. and uh because my I had loved working or using Quicken and I wanted to be part of that that team and that's how it all ended up you know getting there. I just wanted that job. I knew exactly the position I wanted and I ended up getting it. So that's what that's what happened.
So talk to us about that time. So you you you had this idea number one you wanted to work at the biggest software company in the world. You did that. You got to to fulfill that dream. Yeah.
You go over to Quick and you you literally had a target You don't know it, but you need me. You get on the exact team for the product you loved. And what was that like? What did you work on there? What were some of the cool projects at Quicken you worked on?
So, I worked on, you know, specifically

9:28a number of their products. Number one was Quicken and the other one was Quicken Financial Planner. And one of the things that I found that was incredible was when I was working on these products, one of the things I discovered was this one equation that we end up calling the secret formula. And essentially what it did was it proved mathematically that um most people will not be able to reach their financial goals. And it was pure math. It's not like I'm you know it was just pure math. And I would talk to other developers in the team and I would say you know let's talk about this and um and the actual name for it was break even return but it proved mathematically that most people cannot really get to their goals but also it divided the world in two halves not two halves but two two parts one part is the paying side people that are paying the people on the receiving side but they don't know it. In fact, most

10:30investors are on the paying side, but they don't know. They think they're making money, but they're not. The people on the receiving side that understand the rules are the ones that are receiving this wealth and uh and they know how to play the game. You know, the the the banks, the financial institutions, the very wealthy, the people that understand the game. And really that really set my set me on a journey ever since on trying to understand that equation because we couldn't crack the code for years. And then finally I cracked the code uh years after I left into it on how to make that formula work, how to crack the code and um it was phenomenal. So really uh even though I worked there for you know several five years or six years but it was that one aha that really changed uh changed for me and made me realize the uh how the world works, how the game works.
So you're there, you get this education and you're working on that. You realize that we got half the people playing the game one way, the other half playing the other way and how you play the game

11:34leads to radically different outcomes in your life.
100%. 100%. And when it's backed by math cuz we've always heard about it that the game is rigged, but we we felt it. We never knew exactly how. And here I was staring at this formula that I'm like the world needs to know about this. Um but the problem is we don't know how to solve it. And in fact as I discussed with other um people there I realized that no one has been able to crack a lot of financial advisors a lot of uh wealth you know advisors no one knew how to crack the code and in fact many years later I spoke to many people in the in the industry and no one knows how to crack the code um and that's really that was the the shock is that here you have the software that's being used all over the world and no no one knew unders understand the the the foundation to this and this one formula and uh yeah so it was it was a definitely a shock and it was something that really got me and the team thinking about how do we crack the code

12:36
so so now that you've cracked the code right so you've got this idea that you believe that investors are moving too slowly
you know you got to have that that kind of is one of the the parts that's come out so what what do you mean by that when we say investors are moving too slow so a lot lot of investors are playing this what we call asset first approach. The asset first approach is this belief that there's some asset out there that's going to make you rich, right? And so what do most investors do? They bounce from one asset to another asset to another asset looking for this magical asset. That's the asset first approach. That's why you see a lot of investor they say I only do for example, you know, stock market or I only do whatever it is. They're only focused on one type of asset. It turns out that there's another approach called the finance first approach. The finance first approach is the one that actually gets you to your goals much much much faster. And the asset first approach is very difficult to get you to your goals. So in the

13:38finance first approach, there's four layers to it. Number one is understanding that you the secret sauce is in matching the right financing with the right asset. That's number one. right asset, right financing, then structured correctly with the right capital at the capital structure and then finally in the right sequence. Now the reason I mention sequence is because this is the part that most people don't get. It turns out the sequence in which you buy things makes a big difference in your in your in your journey. For example, if I was to start out today just buying only real estate, well, guess what? My money is locked up. Now, you know, I'm a big favor. I'm a I'm a big advocate of real estate but in the right sequence right so you have to create liquidity first you have to do things the right sequence and then you have to to know and not fall in love with any specific asset but know what what asset to buy in what sequence that is critical and um and that's one of the

14:42reasons I say that most investors are too slow is because they're so they have this belief this the asset grow asset assets first the minute we change them over to a finance first approach. It changes our whole game and and and you start seeing results so much faster. That's how we're able to get a lot of our members to their goals way faster than anything out there is because of the finance first approach. That's one of the big mistakes. I mean, there's obviously some other ones, too.
Well, I love um it's funny, George, you and I share that same belief. I call it capital stack. You call it finance first. But I'm always someone says I'm buying an asset. I'm like, man, the asset matters, but actually the the capital stack, where are you getting the money?
Where is it coming from? And how are you flowing it?
Um, it's a big deal.
So, George, when you think about it, why don't why doesn't everyone get this, right? I mean, the there's there's so much information on the internet today. You're out there writing books about this concept. You've got a company that teaches people this. Um there's like it feels like there's less than 1% maybe

15:44it's a half or a third of 1% that actually get it. George with all the opportunity and everything out there. Why doesn't everyone understand this today?
You know I I I'll tell you Brent I there's a lot of noise. That's part of the problem. There's a lot of noise every so many different people on YouTube telling you different things. And if you really notice about what's being said on YouTube, for example, again I'm not picking on YouTube. I'm just talking about the noise here. A lot of people will tell you, they're all talking about an asset first. They're telling you do this one thing. No, no, no. Do this one thing. No, no, do this one thing as opposed to understanding the whole game. And so this is the difference between a technician and a strategist. So what a lot of videos are teaching you out there on on YouTube are very technicianminded investors. How do I get a better return? How do I get this? how the as opposed to building something much bigger, right? A strategist and understanding how the game works first because the minute you understand how the game works first, it

16:47helps you change and adjust your your strategies and what you're doing. So, unfortunately, uh that's what's happening. It's just so much noise and being able to cut out all the noise is very very difficult. Very difficult.
Uh that's I think that's 100% right. I I actually saw an article recently der talked about you know like the odds of a video going viral and they were talking about finance and they said if you talk to people and said you know and you gave them really sound principles not what you and I talk let's just say you go hey don't take on debt don't do car debt pay your mortgage you know create some you know model there uh if you gave people really great advice that video would have zero you know viral exposure you know if you're going down the middle on advice yet if you said I could show you the the investment that'll have a 10,000x return, even if it's wrong, that's going to get much more attention. So, we're in this intention craving environment. It's so much noise.
Yep.
That, you know, my my comment I make on this podcast is I'm I'm just a truth teller in a fake world,

17:50
right? That largely the things out there are just not real
or there's very parts small parts of it that are real. Y
um to your it's really hard to cut through the noise and and and I agree with you. They're giving a a small tactic
and not looking at the overall picture.
Exactly.
And and it may not even be that they're going to land at the destination that they wanted if they followed that advice. Likely they wouldn't.
Yeah.
Um which kind of leads us to the next point. And and you believe there's this huge difference between growing capital and investing capital. All right. If you've been listening to the show for any period of time, you know I run a a high-end mastermind for entrepreneurs that are looking to create a different outcome and create more freedom and their life as it relates to their wealth and their money. And that's what I want to offer you a risk-free opportunity to come check it out. We have two seats available at our upcoming mastermind. You can book a call with my team over at bewealthy.com. Navigate to the mastermind section and book a call. We would love to have you at the event and check it out and see what it's all about.
Yeah. So this here's what we normally do at our events. I I ask the students I

18:53say imagine you have $10,000 and imagine you have and you want to invest this $10,000 and you have three different assets. One is an income producing asset giving you a good yield. The other one is an appreciating asset. You're appreciating really well with no income. And the third asset is one that gives you a little bit of income and a little bit of appreciation but not as well as the other two. And then I asked them, "Where would you invest your 10,000?" And so what most people do is they start thinking about, "No, it's this one. No, it's this one. No, it's this one." However, the answer is fundamentally the problem is the $10,000. It's such a small amount that no matter where you put it, it doesn't make a dent in your life. It doesn't change your life. And so what happens is really the question is how do I take this $10,000 and turn it into say $200,000 and then invest it. And so that's the difference between um growing capital versus investing capital. So here's the question. When people say where should I invest my

19:57money immediately they're putting themselves in this mindset of which asset do I buy? The question really should be, how do I grow this $10,000, right? And if you focus on that first, because here's what happened. I mean, Charlie Munger said it. He said, do whatever you can to get yourself the first $100,000. Now, he said that in the 1990s, right? In today's money, get yourself 300,000 somehow. What he's actually saying is if you have a small amount, no matter where you invest it, it doesn't make a dent in your life. So focus on growing capital increase that 10,000 to whatever it is and then when you have enough then you can invest it. So we have as a company fundamentally changed our our position and saying you know what there is this step that most people are missing which is growing capital and there are very specific strategies that you can use to grow capital and then once you have enough let's just say a million 2 million 3

20:58million whatever it is you're trying then you shift over to the invest and so most people are skipping that step and going straight to invest. What's the point of making 10% 15% whatever it is return on a small number? It doesn't make it dent. And that's really what growing capital is is focus on that first. Use it for a number of years. Grow your capital and then focus on on investing.
It's such a good point, George, that you made and I hear all the time someone, you know, if I have $10,000, what would I do? Uh where would you invest it? Um my and they're asking for an asset class, right? And my answer is literally what would I do? I would invest it here.
The only place you can get a meaningful return Y
is, you know, go to your event, read books, buy like real because if you get a 20% return on $10,000, you make $2,000 a year.
Yeah.
Not that $2,000 isn't a lot of money. It just but it's not going to change your life, right? That's not going to lead you to your abundant life. So are there should the listeners I mean just as a as

22:03a thought process what are what are a couple ideas to think about growing them? How should we think about growing?
So there's five pillars on growing capital. Uh and there are many strategies under each one. I'll just touch on a few right now. So one of them obviously is leverage. Leverage. Study leverage. I can't stress it enough. Study leverage because a lot of people are so scared of leverage. And so, for example, in real estate, when you buy property, you're putting in 20% down payment, 80%, but now you have this large asset that is appreciating on a large number. For example, if you have a $500,000 property where you only invested 100,000, now you're getting 5% on 500,000, not on a on a 100,000. But on the stock market, if you put 100,000, even if you're getting 8%, 10%, it doesn't make it a dent because it's still a small number. So use leverage to your advantage. That's just one example. Okay? And study leverage because it is so powerful when you know how to manage, how to control it, how to measure it. Uh

23:07it's it's incredible. That's just one idea. Another idea would be understand how to make money flow in your life. Right? We focus on flow of money or velocity of money because velocity of money allows you to increase your capital significantly faster than just putting it into an asset. So if you go back to let me give you an example here. If so I have this coffee here from Starbucks right now. So if you were to put water into this so the water will take the shape of this cup. What that means is if I was to put money into a stock for example, my money can only move at the at the rate of the stock return whatever that's it's returning. But on the other hand, if you took the water and you put it into a river and it flows with other water into the ocean, now you have much more uh water. And so with flow of money, when you invest your money in a way where you know how to control the flow, now it's growing faster,

24:09much faster than putting into a cup or into a stock because it can then only move at that at that level. So flow of money is incredibly incredibly important and so combined with leverage is extremely compelling. Now these are just two ideas, but we have obviously a lot more ideas uh and strategies, but these are things that people should take the time to learn. leverage, flow of money, velocity, um you know, uh making the better decisions around money, right? Uh not paying your mortgage early on. Maybe if you want to pay it later on, that's fine. But things like this, it's really important.
I um there's as you were talking there, I was just thinking about your book, The Banker's Code. And one of the concepts that hit me there the hardest was just this concept of spreads that banks are playing this game on spreads. that I look at my own life um you know if I have an asset that can get an 8% return as an example whatever that is let's use real estate and I can go borrow the money at four just as an example right that spread is really what banks are

25:13doing you know and so when rates I don't I never told you the story when rates in in I think it was early 22 or late 21 when rates got to the very bottom right the there's the my the local bank here in Arizona they portfolio IO this offered a 3 12% 30-year fixed mortgage on investment properties investment.
I'd never seen that. I'm like this is I've never seen that. Now you had to pay points to get there and but um a large portion of my portfolio I went and refinanced it and my wife says well you don't need the money. I said honey I' maybe rates go lower but you know in my lifetime I've never seen anything close to this. Well, then what happened? A year later, rates did this and I'd already so you you and the spreads were again I understood leverage.
Yeah.
You know, but so for those that aren't familiar with that idea of spreads and banks or talk I think that's so impactful just as a concept.
Yep.
So
talk a little bit about the how banks think and how spreads work.
I'll tell you. So spreads are one of those strategies that also helps you

26:16grow capital. It's extremely important. So spreads obviously it's your borrowing at one rate and then getting a a a yield that's a better yield than that. And so spreads can be used throughout not just in lending but really many places if you know how to structure. So the idea of using spreads allows you to make uh that additional capital but all off of OPM right off of the debt but also amplify that. So as you get more spreads, you're receiving this cash flow that you can actually reinvest and amplify with with leverage done correctly. Now in addition to that, I don't if you remember this, we talked about floats too. When you add floats to spreads, now you are increasing your spread. What does that mean? That means spreads might be a rate game, right? I'm borrowing at four, I'm making eight, so I'm making a spread of 4%. But now with floats, you're able to lower your um your cost of money or increase your

27:19yield. So now you are using timing with floats which we we we teach our students and that actually improves your spreads. And I'll tell you, I'm glad you mentioned that, Brett. Spreads are critical to people's success early on. Uh and and because it goes handinhand with leverage. I totally agree with you and I think everyone should really take the time to understand how to create those spreads and how to protect themselves in spreads. That's a great point.
Yeah. Um so on everything you've experienced, George, and we talked about some of the mistakes, what other, you know, the people that are not going down this 1% route, you know, and all the things you've done from Quicken to everything you done. What are the biggest mistakes you see? Like I'm even saying people that make great money, right? They're making a 100, 200, 300,000 plus dollars a year. What mistakes do you see them making?
So I'll tell you there is so Albert Einstein was known to focus on a a problem before I mean understanding the

28:24problem. He would spend 90% of his time focused on the problem. And one of his famous quotes he says uh for every hour what is it something like give me 50 for something like give me 55 minutes for every hour where I'll focus on the problem and I can figure out the solution in the last 5 minutes. The reason is because the problem when you understand the problem so well it speaks to you it it shows you the solution. Now the problem with most investors is that they are they think they don't understand the game. So one of the things I tell people is understand the problem you're solving and spend some time. I mean literally as a company sometimes what we do we we take our our research team we go out for three days and all we do is talk about and understand the problem whatever it is we're trying to solve. It is that's the number one mistake I tell investors is understand the problem because the minute you understand it it speaks to you and the first one of the major problems is how the game works. how the game is actually rigged, right? And if

29:28they understood that the decisions they would make, everyday decisions wouldn't be the same decisions. And so, one of the examples I give is we live in a compounding world. One of the problems I explain to investors is we live in a compounding world. What does that mean? That means if you were to look at your goals, your freedom, what we call the freedom freedom line. Let me step back actually and explain. Our whole journey is based on two lines. The freedom line and the journey line. The freedom line is the line that we need. How much do we need in net worth or assets give paying us income. And so I'll give an example. Let's just say your goal is to generate $100,000 per per year. Okay? That means you need roughly about $2 million in income producing assets. Now the following year that 100,000 you really need now 105,000 to buy the same stuff you were buying. Well guess what that additional 5,000 that means you have to buy an additional $100,000 in assets and

30:32kept producing assets the following year. So your freedom line is actually growing roughly 100,000 plus every single year. So think about it. We live in a in a exponential world, you know, compounding world. And so now the investor is trying to invest this $5,000, whatever else they have left over to generate some assets, but they don't realize they have to have $100,000 every single year in additional assets. They're only investing 5,000. There is no way for average person to catch up to that. So we study that problem and you realize that most people they're they cannot keep catch up the freedom line because their efforts what we call the journey line is somewhat linear right and so now you have this linear effort in a compounding world good luck right and so the the minute they understand that the first thing they understand is okay so how do I bend the line so the

31:35more you start understanding how the world works and the decision ision you have to make. People then realize to bend the line here are the things you have to do and it starts the the problem starts speaking to them and they start realizing if I am if I'm paying down my mortgage early on in my journey I'm actually hurting myself because I'm actually bending it downwards my journey. And so these are the things that they have to understand. So we spend some time understanding that. In fact we have a tool on our website where we show them the compounding world problem. I said just go in there and plug in your numbers and see and they realize it is impossible. And so the minute you understand that problem for example you start asking yourself the right questions and that's what we you have to do is ask yourself the right questions not what should I invest in but rather how do I bend the line to make it work for me the minute you start asking that question you start asking now even beyond that the right questions and ask yourself how do I bend the line and how do I measure every transaction to make sure that it is indeed bending the line right and people

32:40start realizing realizing how important that is. So that's just one of the the the things that we tell people. Take the time to understand how the world works, understand how the game works because it all boils down to these two lines and ultimately bending the line.
Yeah. So Jory, there's so much um to take away from that. Um you mention a lot and you talk about this rigged game. Um and I believe it is too. Okay, the game's completely if you're not paying attention, you're not doing your self-education, you're not studying what you're talking about, um, you realize that really your income, you know, if you're if you're spending, I mean, you're just you're on this journey spinning in a wheel
and you're never you're going down the road, but you're never going to land at the destination you want it.
Talk like in your perspective like how is the game rigged? Like what's the the framework why investors get in this rigged game and they can't get out of it? So, so let me give you a two-part uh answer to that. So, let's go back to that equation I mentioned uh 30 years ago that I I found in in quicken

33:43financial planner. So, that equation called the break even return is as follows. I'm going to just give it out so everyone can can sort of write it down or whatever and understand the problem. So, it starts with the letter B for break even. B equals I for inflation on top divide by 1 minus R. R is your effective tax rate. Now if you were to plug in your numbers used to plug in say 6% or 5% whatever it is for inflation. Plug in your effective tax rate 30% whatever it is it is and you'll get a break even. Now that number for many people is about 8% to 12%. Okay. Now the actual number is higher because inflation people don't get correctly. It's much higher than they realize. But let's just go with that. So that means 8 to 12%. Let's just say 10% as an example. That means your whole portfolio, your whole portfolio must generate a 10% return. Not one deal, but your whole

34:49portfolio must generate a 10% return without using debt. compounded every single year just to maintain your pricing power. I'm going to say that again. You must generate that number whatever they calculated every single year in a compounded manner without using debt just to maintain your purchasing power. Now, most people cannot generate 10% on their whole portfolio. And to really build wealth, Brett, you have to be doing double that to really be actually moving forward. And so now you're starting to think how on earth can I get 20% or even 15% on my portfolio every single year without taking additional risk right it is practically impossible now this is the math right so now that you think about that so how on earth do I crack the code how do we crack the code well it turns out when you use leverage correctly strategically leverage acts as a shield What does that mean? I want you to

35:52imagine you're wearing a bulletproof vest, right? This bulletproof vest is essentially a inflation proof vest. When you use leverage correctly, you are you are creating a a situation where inflation doesn't affect you as much because you are passing it on to someone else, which is the person who's putting up the money, depositors. And so what happens then is you remove that friction that that's that's holding you back from moving forward. By doing that you can lower your break even from 10% down to 2%. 3%. Now how is that possible? Because now inflation is not affecting you. It is affecting someone else. You are shifting all the negative impact of inflation to someone else. That's what I mean by receiving side. receiving side, they know how to use these shields to minimize inflation on them and passing it on to some someone else on the paying side. So the people on the paying side think, okay, I'm not going to use debt. I'm not I'm going to pay down my mortgage. What they don't

36:54realize is that's their shield. The minute you start paying it down and you're not paying uh you're not using debt strategically, you are taking on the brunt of the whole system, which is that equation. Now you have this responsibility of generating 10% or more on your whole portfolio which is impossible. So again it all boils down to math. And so I tell people take the time study the system because when I say it's rigged I really mean it's rigged and it's based on math. And that one equation for example I just touched on it. There's a lot more to it behind it where people start realizing that I don't have a choice. If I really want to move faster, I have to use debt strategically. Now, I'm not talking about a lot of debt, but just enough to shield some of this this friction holding you back from moving forward, which is inflation and obviously taxes.
Hey, if you're getting value from the show, do me a favor. Take less than 10 seconds and hit subscribe. Whether you're on YouTube, Apple podcast,

37:58Spotify, hit subscribe, leave us a review. It helps us immensely. Our goal is to help more people and you are one of the keys to doing that. So, please do us a favor and leave us a review. And also subscribe. Well, what would my question to you would be um you know, you hear these inflation numbers that come out, you know, that we're targeting and today we're pick the number 3 or 4% or whatever it is. Um what would you say like so why do we need to earn 10 or 12 if inflation the number we get is three or four. Now, by the way, my views, I know that that inflation number that we get is not because they massage it. Right. As soon as the the basket of items that we start to use exceeds that, you go, "Well, let's just take out, you know,
exactly
eggs, we're going to take out." Right. So, right. I don't I didn't tell you this. You know what I did in COVID to actually see what inflation was doing is I would go to the same stores and grab the same items every week and I would just price them
every week. So, I could tell the prices were were going up, George, slightly more than 8%. Because, you know, you

39:02could see it. You're like, I'm this is real, not some madeup story.
Yeah.
So, you know, when people tell you, George, inflation's only three or four. Why do I need to get 15?
Yeah. So, so, so two several reasons. Number one is you have to account for taxes. So when and that going back to that inflation, we're saying inflation but also divide by one minus taxes because you're going to sell this thing whatever it is at some point. The minute you sell it, there's taxes, right?
And so that's what I mean. That's why you have to account for that. So
um so uh that's number one. Number two is this more important than inflation is actually personal inflation. Now personal inflation is your own inflation as as you're mentioning Brett is at the end of the day we don't care what CPI is because it's nothing more than a basket of a random products that someone decided is is but when you look at your own inflation what's called personal inflation and you look at your expenses last year and your expenses this year this is how you calculate personal

40:04inflation. Now for most people in their working years guess what their personal inflation is closer to 8 to 10%. And all you have to do is understand the system. The system, it turns out that personal inflation is equal roughly to how much printing is going on in the world in in the US, right? The Feds. So if they're printing 10% more money or 8% more money so that ranges between 7 to 10% every year, that is what inflation ends up being, your personal inflation. Now that's why this exactly what you said, Brett. the basket of goods is a madeup basket to really get the number they want, right? We have to be asking ourselves, what is our personal inflation? And then people start realizing your personal inflation is close to double digits. It's 8% 10% for many people in their working years. And that's the problem. So, um, and when you plug that in and you start realizing, you start realizing it's really much more than than, uh, than the basket of

41:07goods. I never have heard personal inflation the way you just described it. That's a single I think that's it rather than track what like you said what the government is which is this basket of goods that may or may not be accurate but it really what if my spending has nothing to do you know I've got some items in the basket of goods but I might only be 30% representative or I might be 50% but I might not use a lot of those. So this personal inflation. So if people wanted to get more clear on that, George, would a way to do it be I go take my 2024 bank statements and just look at all the expenses for the year and total it up. Then I could take 2025 and
that's exactly correct.
And and am I in the 7 to 10% or more? I mean to your point it might be my personal inflation could be 20. I mean lifestyle creeps real as well.
That's exactly.
Um is that a way to go look at our personal inflation?
Yep. Exactly. You look at the expenses from last year uh or the year before and expenses from last year and then figure out the increase and that's your personal inflation.
That is a an amazing way to look at how

42:10you're pacing with time. That's an incredible way to look at it.
Yeah. And I'll tell you right now what you're going to find out is there's a there's a uh it ties in with how much more money is being printed every year. And it's like you can see it one to one correlation. seven to 10% more more printing and seven 10% uh personal inflation. It's incredible.
So So George, I've um I want to get your take on this. I've got a buddy who's on the podcast. Um his name is Josh Mettle. He's just a really smart guy. Josh Mettle is his name. And he's got this idea around units of measurement. And so George, if you and I sitting there, do we agree that a foot 12 in is 12 in. And in 30 years, George, we agree it's 12 in.
Yep. And do we agree that, you know, 16 oz, I'm using a cup, this is a 16 cup. Do we agree in 30 years 16 ounces is still 16 ounces? And so in our worlds, we've got all these different units of measurement.
Okay, that we've come up with square footage, right? That's a constant. Yet, we use a dollar as a unit of

43:14measurement. However, a dollar today is not a dollar in 30 years.
That's exactly
right. dollar today might be eight cents in 30 years. I mean, but you know, it depends.
Yep.
So, when you think I mean it it I don't think people get that and I I think that his the way he presents the unit of me because we all go he starts off with this room and he has like a me like a measuring thing. He goes, "This room is 30 ft wide. Do we go in 30 years 30t?" So, why are we measuring wealth in something that changes over time?
You're absolutely right. That's why it's really important. That's one of the big things I would recommend to everyone. Start measuring things in purchasing power. I cannot stress that enough. You're absolutely right, Brett. And and Joshu I think his name is absolutely right. You have to start looking at purchasing power, your ability to buy the same stuff every year rather than the dollars because dollars, people are thinking nominal dollars. That unit is dropping. You're absolutely right. $100,000 10 years ago and $100,000 today versus $100,000 10 years from now are

44:19very different because they buy different amounts of uh of uh goods and services. So you're absolutely right that the key metric there is start focusing on purchasing power your ability to buy the same stuff over time.
You're absolutely right.
How should we and I've seen your example. So we think give us an example of how purchasing power declines over time to just anchor in this point.
So someone has to start thinking about um so if you think in terms of dollars right um strictly dollars the problem is you don't have a way to gauge if it's actually working for you or not because you don't have an anchor. The anchor is what is this thing? So we use in our in our events coffee as an example and you've seen me talk about the coffee. So we say okay today I can buy with this $100,000 I can buy let's just say a coffee is a dollar $100,000 $100,000 coffees as you start looking at your investments and doing your projections you always see this chart

45:22going up but the minute you adjust for the number of coffees you can buy because coffee has gone up over time automatically you see this chart going down now right and so you have to have an anchor around your dollars right what can it buy So, we always use coffee as an example because everyone drinks coffee and um and so we start by saying coffee is a dollar. We're going to adjust the price over time. So, next year it's going to be 105. Next year, let's say 110, whatever. And then we look at our projections 10 years from now and you realize my coffee actually dropped. I was able to afford 100,000 coffees today. Even though I made all this money, I can only afford 80,000 coffees now. And so people have to have an anchor to really relate their dollars to.
That's um that's so good. And also, you know, one of the things I think about to your point on leverage, the beauty of fixed leverage over time is you're we're repaying it back with dollars. You're paying it back with 20 $30 or 20 $35.

46:26
Yep.
Um not today. So you get to fix the rate, right? So that's one of the ways that I don't think people realize the rigged game. You have to use strategic debt
to work against the game that's rigged for you.
Correct.
That's exactly. In fact, that's I'll tell you it's one of the greatest gifts we have in this country is this fixed interest 30-year loans. People don't understand that gift. It is a gift. No other country in the world has a fixed interest rate for that long. Um, and people Yeah, you're absolutely right. That's that's a gift we have and we should be taking advantage of it. No, people do not uh understand it. I'm I'm curious on your take, George, today. You know, there's all this talk on, you know, the dollar debasement trade and Yeah.
and you know, we we know that inflate, you know, like our country is at a place where we've got $ 37 trillion in debt and
um you know, as a politician, if I run, you know, this isn't a political statement, but if I ran and said, George, everything's going to get really

47:27hard for a long time. We're going to suck our belts up. we're actually going to balance the buck like we got to do things to where we're gonna actually kind of get this debt manageable uh instead of printing money which is you know if I was a politician and ran on that I don't I don't think I'm going to win. So you know my my perspective is like we're going to print more money right I mean is that's the the logical scenario. So as you look at that today, what is the advice that you've got from for the students where you say, "Okay, we're we're in a place where and maybe your view isn't the same. If if you've got a different view, please share it." But in a world where inflation's very likely to get more in the next 5 years than it is right now, personal and the the CPI number, what advice do you have or what are the things we should even how should we be thinking about that? You know, when I first read Robert Kiyosaki's book, Rich Dad Poor Dad, um he talks about debt and I never understood why exactly. And I'm a very skeptical person. So, I loved loved that

48:30book, but I wanted to understand why is he saying that? And as you're alluding to, Red, honestly, having debt in times like this is one of the best things you can do as long as you you know how to manage it, as long as you know how to measure it, how to control it, what to do, uh have a risk management plan. But it is critical that people use debt to to offset that in fact to build wealth in spite uh in spite of it. So, so that's one of the greatest things we have is the ability to to use debt to fight inflation to make it work for us. So, inflation can either work against you or for you. And the minute you start using debt strategically, it is working for you. It's actually building your wealth. Um, but the minute you stop using it and you decide, you know what, uh, I don't want to take the time to learn it. It is, uh, bad. It is scary. it is whatever and never take the time to learn how to use it. It is not working against you. So you can only

49:33work it can either work for you or against you but you cannot just sit in the neutral place and so um so take the time again learn to use infl to use debt strategically again because it it is a way to protect you um given what's going on and uh make it actually work for you and build your wealth faster 100%. So, you've got these concepts at finance where you help people reach their goals faster, right? Safer and with more certainty. I'm quoting your words, which I love that, right? Faster, safer.
Yeah.
And really what we want to your point, we want certainty, right? We want to knowreased.
We don't want to get to 75 years old to realize, wow, I missed the mark 30 years ago. I wish I could run this back. So, how do you guys how do how do you do that, George? So the first thing we do is we focus on grow capital first and I'm going to talk about you know how that's uh so we we focus on grow capital just like I alluded to earlier and then we grow your capital first and then you

50:36move into invest. Now let's talk about control here. Let me ask you a question Brett. If I told you I have $100,000 and I'm going to invest it in the stock market. Do I have control over how much return I can make? The answer is no. Right?
Zero. not zero, right? So, I have no control. But let me ask you this, Brett. If I'm going to buy a property, let's just say I'm buying with $100,000. I'm buying a $500,000 property or whatever. And I can do I have a choice of saying I want uh an 80% LTV versus 70% LTV. How much debt? Yes, I have control over that from day one.
You have total control.
Do I have control over saying, you know what, I don't like the interest rate. Therefore, I'm going to uh I can choose, for example, 15 year versus 30-year, right? I have control over that. I can control whether cuz I know from day one what my interest is. I don't like this um interest. I'm not going to I'm going to pass on this or I like this interest. I'm going to take this mortgage. I have control over that. Now suddenly I have a $500,000 property in this example.

51:40If it just appreciates very low, let's just say 5% or 4%. I'm still making number on a a small rate on a big number, but I have control over every decision I make. So more control than the states the stock market. Now again, I'm an advocate of both in the right sequence. But let's go back to when you have more control over the the decisions around debt and how to manage that. That's just an example. Now I have more control over the decisions. But when I just put my money in a in a stock market, I have no power, no control over what the return is going to be. So how do we go about changing the environment? So I have more control. So this is the difference between what I call the rate game and the capital gain. The rate game is where you're putting money in something and you have no control because it's all based on a rate. Capital is where you are growing your capital, but you have control over the decisions. I don't like this interest rate. I know from day one how

52:42much uh I'm gonna control in terms of debt. And so you have way more control relative to the to the rate game. So the first thing we say is get yourself out of the rate game because you have no control over it. Get yourself into something that you have some control, right? Which is the capital game. The minute they're in the capital game now, they start realizing there's a lot of things they can control. Let's go back to what one thing you said, spreads. Spreads are a lot easier to do when you are in the capital game because you there's certain things you can control. In the rate game, there is no way you can control that and you are just hoping and praying. So you go back to work, work, work, work, work, work, put your money back here and you're hoping and praying that this thing is going to go up. Meanwhile, in the capital game, you have a lot more control. A lot more control. And people don't realize that. So the first thing we say is we're going to give up on the rate game for now. We're going to focus on the capital gain and here are the rules. We have rules and we say here are the rules and here's how you control your decisions. Focus on on these decisions. This is how we talk

53:45about more certainty because you have more certainty around those decisions. And so we start with the with the grow capital. We focus on the capital gain. And once we have enough volume of capital, let's just say your goal is to get to 2 million or 3 million or 5 million net worth, whatever it is, you can grow faster because you are controlling certain variables. Once you get there, then you can move into the into the rate game. Go ahead and put your 5 million or whatever it is into whatever you want. Focus on the rate because now you want to generate a fair uh a fair return, right? But meanwhile, early on, you're trying to trying to aim for the biggest return and that's higher risk. With high return, there's higher risk. So that's why we don't like playing the uncertainty game where where I'm hoping and praying that this rate goes up, but we are controlling variables. That's why real estate is such a great game because it allows you to control certain variables. But you have to know when to buy the real estate in the right sequence, which is roughly in our in our in our journey. It's about year three, year four. we start having

54:49people buy more and more real estate. Um, as an example, um, but early on we're building liquidity. We're focusing on controlling certain variables. Uh, and that's why we say we can help you get there faster, safer, with more certainty because we have control over this decisions we make.
I love that. Where do you where do you have them start so on their journey, you know, where do you someone's watching this, George, and they're like, man, this all makes sense. Everything that George you've shared the last hour makes total sense. Where should people start?
So, one thing we say is you you said it earlier, start by understanding the game. Take the time to study, educate yourself. I cannot stress that enough. The most important asset, as you said, is you. This is up here, right? Every single person needs to understand they are the most important asset. this is the best decision, the best education you can do is is invest in in yourself. Then what we do with our with our members is we have them we say okay our

55:52goal now is to increase your liquidity. So what we do is we start having them buy certain investments because to play the the the the capital game you have to have liquidity. For example in real estate as an example is very a lot of investors don't have liquidity. Even though they might have cash flow, they count that as liquidity. It's not. So there are certain metrics we're going to focus on. For example, your portfolio liquidity. We say you're going to focus on getting it to 20% uh liquidity ratio. And so we focus on that. We help them build that liquidity. They're still buying ETFs. They're buying certain things that are that help increase their liquidity. What that does is liquidity is your oxygen, right? It is your breathing room. So in case there's there's fluctuations in market there will be fluctuations you have to know what to do. So we start by focusing on on liquidity portfolio liquidity and over time as they get certain metrics and thresholds milestones that we we we help them with then they start getting into more income producing

56:54assets and then later on appreciation. So the sequence is very critical. Appreciation comes later because now you have the liquidity you have the foundation you have this income producing assets. Then later on um appreciation. Now unlike how I started, I started as you know with with real estate and I love real estate but the mistake I made was that my money was locked up right and I put my down payment. Now I have to go back to work, work, work, work for several years, save enough, get another down payment. Well, that was a mistake. Now it it wasn't bad. I still build both from it, but I I learned the importance of liquidity and movement of money. That's one of the first things we have our students do is get your money moving in a certain way because that movement of money is going to help you with the down payment later on. So, uh so that's where we start. Start by educating yourself. Understand that you're the most important asset. Really start building your liquidity and that is critical. you uh you touched on one of my other

57:57favorite concepts from the banker's code which is this idea of velocity of money
and you know I've taken that concept you know I talked to our audience about it and it's just um it's just brilliant it is a brilliant way to think about so how what is velocity of money and why does that help like to your point how do you get people there faster safer you know what is velocity of money and how can we use it
so velocity of money is really the flow of money you want to turn them. So here's what I tell people is I want you to imagine a financial ecosystem. Now most of us are playing or are pawns in someone else's financial ecosystem, right? The minute you want to step out of their financial ecosystem and build your own, the first step is to turn money, right? You can't just have money sitting in one place doing nothing. So velocity of money is essentially the movement of money. But as the money moves, it has to be generating as what we talked about earlier, spreads. And so spreads give you profit.

59:01So now you are turning the money so much faster than locking up in in a in a cup, right? And so now you are able to generate more returns and more spreads by turning money. So for example, buy income producing assets and start turning that money because that increases your your ROI significantly by by using uh velocity of money along with leverage. And so we have this concept of there's tactical leverage and then there's strategic leverage. Tactical leverage is where you use lines of credit in a way that's constantly going up and down, up and down, up and down on the balance because you you you fund something, you get the money back, it's paying it down constantly. That's called tactical leverage. Strategic leverage is one like real estate where you don't pay it down for a while, right? And so what happens is by having combination of both, you're able to move money with tactical leverage so much faster and in the process it's creating profits for you and and buying assets. you end up with the same money buying a lot more

1:00:03assets than just sitting in in a in in in an asset. And so velocity of money is one of those things that we have people start immediately with uh because of its power and then it it opens you up to opportunities. So let me give you an example with that bread. So let's just say I buy I put my 100,000 in in a property and now it's stuck there, right? It's working for me. However, with velocity of money, if an opportunity falls into my lap, I always have the money to to take advantage of that opportunity. And opportunity investing is one of the best things people can learn, okay? Is always be ready for the opportunity. Always be ready for the opportunity. So, the minute you have this this tactical line of credit that is constantly being paid for by the by the by the cash flow and an opportunity comes in, you're able to take advantage of it immediately, right? And and that's what happens. You start seeing your your wealth grow because of opportunity investing and and and again the movement of money. So velocity of money is critical and it allow you also

1:01:07have your own financial ecosystem too. Build your own financial ecosystem,
you know. So I read your book and I since then so I I do a lot of as example hard money loans. I do a lot of lending and I've got a line of credit right now. I don't I only put a small portion of what I have actual cash out in terms of debt. But what's cool is as those payments come in every month in real time, let's just say it's $10,000 in payments. The minute those get deposited, I go and pay down the line of credit.
Exactly.
The line of credit's at 7%. I'm in I'm earning 7% in real time. So every month, every dollar that comes into my world is driving down my line of credit. New opportunity comes up. I go buy something that makes more money. And it creates this, the way I think of as a snowball that just gets bigger and bigger. your asset base goes like this.
But what do most people do? Money comes in, sits there forever, you know, six months, three years while they're waiting for a deal, but they're not thinking about how to get their, you call it an income machine, which I love. They're not building their machine.
Yep. You're absolutely right. And people, it's all theoretical until they

1:02:10experience it. Like you, I can see you just light up when you were talking about this. You're so right, Brett. It's you start seeing, you start creating your own financial ecosystem. So now suddenly you have people in your financial ecosystem depending on on your you know uh financial ecosystem on your on your funding and all that stuff. So it's fascinating. It's a it's a great way to start building wealth.
So you've got this idea and then we'll go to our we'll kind of start wrapping up here. You've got this idea around you know it shouldn't take 40 years to have financial freedom.
Yeah.
You know there there's better ways we should think about it.
Yeah. you know, and so we shouldn't be trapped on the slow model. And I know you've touched on a little bit, but so how how can we do it faster? How can we get the financial freedom we want much quicker? So I tell people the more you understand how the system works, how the game works, the more you realize you can actually get much much faster. I would say 10 years or less for most people who have had some some, you know, experience and some resources, financial resources

1:03:13to to invest. You can get your goals way faster than you realize. We have people getting there way faster than way under 10 years, three to seven years, a lot of people. And the reason is because they are so intentional in making the right decisions. They are they're not bouncing all over the place. Most investors, you see them bouncing all over the place. They're not sure what to do. So I tell people the number one wealth killer, the number one wealth killer by far are the decisions we make around money. And the reason is because we have been conditioned to think a certain way. How many people are getting 15 year loans versus versus 30-year loans? The 30-year loans is what they should be getting. But they don't know why. They say, you know what, the interest is lower. You don't understand certain things how how the system works. The other part is a lot of decisions they're making is like, okay, I'm going to buy, for example, my son is going to get married next October. He knows exactly exactly how to pay for it. And that is because it's not just cash. He has the cash, but he's not going to pay the cash. He knows exactly how to fund it. How you pay for everyday

1:04:15things matters a lot. So when you start knowing how the game works, knowing how you pay for everyday things, knowing the sequence in which you invest, you you're not worried about what's next, how do I do this, how it's all systemized. And so what happens is when you are so structured, so strategic, so intentional, you can get to your goals because you don't have to worry about all this other noise out there. And um and I'll tell you, we've seen the numbers. We've seen that people's changed their lives. Um and uh it's incredible because you really don't have to work that that uh 40 years with nothing to show for it. It's uh it's sad to see that with people. Um, I've seen people work all their lives and honestly, you know, with nothing to show for it at the end of their lives. Um, and it's really, really sad. So, take the time to learn some of this stuff. Uh, because there is no need there is no need to have to work 40 years. There is no need. Um, just take the time to understand the system and be comfortable

1:05:18with things like leverage. We're not talking about high risk leverage here. We're talking about being intentional, being very strategic. So yes, you can get to your goals in under 10 years if you are very strategic and learn how to make better financial decisions 100%.
So George, as a wrap it up, I ask everybody these questions here. Um, what are the top three books, not your own because I'm going to recommend those. Everyone should read the banker's code and debt and all your books. So everyone should read those.
What are the top three books that you've read that have most impacted your life? I'll tell you one of them was obviously Rich Dad Poor Dad because suddenly I was thinking very differently. In fact, Rich Dad Poor Dad was the first book I ever read from cover to cover in one night. And I'll never forget I went to bed at 6:00 a.m. having read the whole book cover to cover like my my life just changed. And that was one book. The other book was Unlimited Power by Tony Robbins. What I loved about that book and this was early on when I first you know uh many many many decades ago um it

1:06:24really made you realize that you can achieve success with simply focusing on your mind and and and and habits right and that was an incredible book um it made me realize everything is possible suddenly the whole world opened up for what's possible the third book I would say is E-Myth by Michael Gerber. The reason I love that book is the idea of systems and I saw like I mentioned earlier my dad's businesses in in that book. Um and I realized the importance of systems and how to think in systems and that's really how we were able to help a lot of our members build systems and and wealth building to get them to their goals much faster. So that had a huge impact on me. E-Myth. So yeah, these are the I would say the three books. Obviously there's many more but these are top three. I I love those three. I've read all of those three. Two of the three were, you know, massive and Tony Robbins book incredible. But the E-Myth um I'm with you. I read I read it and you went that you everyone's experienced the E-Myth, right? I mean, everyone's experienced

1:07:27not having systems and then having
uh and realizing that running a business is so much more than just the one thing that got you excited about it, right? There's a whole plethora of things that go into it.
All right. If you've been listening to a show for a bit, you've likely heard that I run a wealth-b buildinging mastermind largely around some of the same concepts and content that we talk about here on the podcast. We have an upcoming mastermind. We've got two seats left for it. If you want to come shadow our mastermind, take a look at what it's like, get an actual feel for what it feels like to be with a tribe of people that are on the same journey as you, we've got a completely risk-free way to do so. Just go to bewealthy.com, navigate over to our mastermind and book a call with one of my team members to learn more about our mastermind and you can how you can come completely risk-f free and check it out.
So, George, what's the best purchase you've made last 12 months under $200 that's most improved your life?
Um, okay. The smallest of things or up to 200 bucks that's most improved your

1:08:29life.
I'll tell you something happened in the last 12 months. um that had a huge impact on me. So, as a parent, but you know, uh when your kids are growing up, they think you're they know everything and all that stuff.
Uh in the last 12 months, one of my daughters came up came to me and said, "Dad, I I want to do what you're doing and can you teach me?" And as a parent, you know, that's like the greatest gift. the fact that they're sitting there asking you for like to learn from you and prior to that my son had asked me that several years ago and and came and spent the whole day in my office with me on a white board with his girlfriend and I was like wow this is like the greatest gift a parent can get and um and I would say so there's no cost to that but it was the greatest thing in the last 12 months the fact that my daughter uh asked me in fact both daughters have been now we're in the conversation of of helping them. Uh but the fact that

1:09:31they're showing interest is incredible. And Brett, I know you you know what I'm talking about. So, uh so that would be the the greatest thing in the last 12 months under 200 bucks.
That's um that's beautiful. Uh yeah, I my son's now my oldest is 17 and he's just got on the outside of that edge. You know, there's a period of time where the parents don't know anything and and he's starting to realize maybe dad has a few of the answers to the question. All right. Maybe so he's coming. We're on that journey. So, I'm not fully there where but it's cool. I love that. Uh, last thing, George, if you could take this mass knowledge that you've accumulated financially, all these life experiences, and you could go back to talk to George at 21 years old, what do you say to George, 21 years old? I would say, George, don't chase returns. Focus on growing capital. understand how the game works and focus on growing

1:10:35capital and that's a very different mindset. So take the time learn how to grow capital before you invest and uh and that's what I'll tell myself and I'll tell you it would have changed my whole life uh understanding the difference. That's so that's so good. So, George, we're wrapping up here. Where, if people want more, George, where can they go to understand more about what you do? And other than buy your books, which I think if everyone on here doesn't go by the banker's code, I think that's just it's a huge missed opportunity. I I um I'm such a fan of that, but it's my most given book. I give your book everywhere.
Um because it it teaches people how to think.
Yeah.
And which is the most important thing. So, where can we send the folks, our listeners and our show viewers? Uh they can go to my main website uh finance which is spelled fynanc.com. It's a quirky spelling of finance. fynanc.com and they can get more resources there and learn more about um we have some freebie stuff that they can download and

1:11:37read.
Perfect. We'll put that in the show notes. Go check out uh everything that George does. Go check out his website. Uh read his books. And again, thank you George. You are an absolute treat. and thanks for all you do to help so many. I'm grateful for you.
Thank you, Brett. I really enjoy being on this and thank you for what you do, Brett. You've impacted so many lives and a lot of your uh members and stuff have incredible things to say about you and the impact you've had on them, it's been incredible. In fact, I always say there's something that you guys do that is magical because all your members have this incredible um uh drive, incredible discipline. Uh they come in here very successful. So, whatever you're doing, thank you for what what you're doing back.
All right. My pleasure. Thank you, George.