Harsh But Helpful Money Truths w/ Dr. Brad Klontz & Adrian Brambila #896

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to had to Money. I'm Joel and I am Matt,
and today we're talking about harsh but helpful money truths
with doctor Brad Klotz and Adrian Brambilla. Yeah.

Speaker 2 (00:28):
So what does a CFP financial psychologist and a former
professional dancer for tea pain having common? Joel, Well, on
a tune, you know the answer, but everyone else can
keep listening to find out. We are joined by doctor
Brad and Adrian, who are the co authors of the
new book Start Thinking Rich twenty one Harsh Truths to
take you from broke to Financial Freedom. And these are

(00:51):
harsh truths. They don't sugarcoat it. We're gonna get into it.

Speaker 1 (00:54):
In this book.

Speaker 2 (00:55):
It's all about delivering actionable solutions to increase and diversify
your income, to help you save what it is that
you make, and to discover ways to grow your money
in your sleep. And Adrian and doctor Brad, they both
agree that the wrong mindset is often what is keeping
folks from achieving those ends. They want everyone to avoid
learning lessons the hard way. That's why they have written

(01:17):
this book.

Speaker 1 (01:17):
Fellas. Thank you'll so much for joining us today on
the podcast.

Speaker 3 (01:20):
Hey, thanks so much for having us pumped to be here.

Speaker 1 (01:22):
Of course excited. Yeah, no, we're excited too. And I
don't know. I think Mary Poppins said a spoonful of
sugar helps the medicine go down. You guys said, screw
the sugar. We're just we're just going to shove the
medicine down the throat, which I think has its own benefits.
And so we're going to get into the book in
just a second. But the first question that we ask
everyone who comes on the show is what do you
like to splorge on? And of course, you guys are

(01:42):
writing about money, you're saving, investing for your future, you're
doing the right stuff, but you're also probably splurging on
stuff in the here and now. So Adrian, I'll start
with you. What is that splurge item? Your craft beer equivalent.

Speaker 3 (01:53):
I just spent a lot of money.

Speaker 4 (01:55):
I spent forty thousand dollars to get my own pick
a ball court at my house ready for ten days,
and I've played on it ten days. I'm playing on
it every single day.

Speaker 3 (02:06):
I love pickleball. I'm totally addicted.

Speaker 2 (02:07):
Okay, Well, so I feel like one of the benefits
of pickaball is that you don't have to have a
court because it's so small that you could just set
up a little little net in the driveway.

Speaker 1 (02:15):
Admit, Matt, you need a cord.

Speaker 3 (02:18):
I think the what I realized is I started playing.

Speaker 4 (02:20):
I've been playing for like ten years before it became
really mainstream, and and you know, I don't want to flex,
but I'm probably the best pickball player you've ever had
on your podcast, but my duper rating is five point six.
And as you start elevating your play, there's actually less
and less places to play. And so I was driving
like commuting like an almost like a nine to five
job an hour there, an hour back to go like

(02:41):
play three four times a week, and I was like,
I think I'm going to like just get a court
in my house and I kind of host community. That's
what pickaball is super great. And then also it's a
big time saver. Anyways, that's what I'm saying to justify
the forty thousand dollars.

Speaker 1 (02:53):
That's your excuse at least, and now they commute to
play with you. Yes, exactly, awesome, Awesome A right, doctor, Brad,
what's yours? Dang?

Speaker 5 (03:00):
You know, Adrian totally stole my thunder because I was
about to say that I bought a three hundred dollars
pickleball paddle, which sounds pretty pathetic right now as I'm
talking about it, but essentially, I'll be honest, Like, for me,
it's lessons for my kids. I spend a lot of
money on baseball lessons, tennis lessons, and when I sit

(03:20):
and think about it, it's probably like it's one of
my larger expenses in terms of discretionary cash flow. But
I just love it. I love investing in their skill set.

Speaker 2 (03:30):
Their experiences. I've got four kids, Joel has three, so
we can relate to extracurricular activities and the toll that
they take on our budgets.

Speaker 1 (03:39):
I'm curious too it was pickleball? Was that the common
bond that got you guys together.

Speaker 5 (03:43):
So I'm I rarely get beat at sports by anybody,
And Adrian was talking about pickleball. I played tennis in college.
I'm like, yeah, yeah, yeah, let's see what you got.
And so I actually played with him about a year
and a half ago and he just tore me apart
and it was so humiliating that I've spent the last
year and a half spending ten hours a week trying

(04:04):
to get better so that I can beat Adrian.

Speaker 1 (04:06):
Amazing, so that you can step up well.

Speaker 2 (04:08):
So what Joe's asking, though, is that literally how y'all met,
because because Brad you're a financial psychologist, Adrian you're basically
like a social media TikTok star is like, how did
y'all actually meet and how did this partnership come to be?

Speaker 4 (04:20):
We met on TikTok i for about a year during
the pandemic. I was living in a van and I
was talking about finance. I've been documenting my online entrepreneurship
journey ever since I was a pro dancer for Tea Pain.
My first online business was teaching people how to dance
the robot, and I've been creating content since twenty ten.

(04:40):
But during the pandemic, I started talking about this lifestyle
of like fire movement, living as a minimalist but also
having high income, and that's when of my contents started
to shift to more finance. And Brad and I were
connected beforehand, but even though on paper backgrounds were totally op,

(05:00):
I was sharing the same ultimate message about what real
freedom and wealth is, and that's wealth is not about
how much stuff you own. It's about how much time
you have and how to choose how you spend that time.
And so I was like a living contradiction to I
think what the algorithm and what most people think rich
or successful is. They think Lamborghini flash like private jet now.

(05:20):
And I was basically saying like, hey, I'm a multimillionaire
and I would share transparently. It's so I got really popabarly,
like hey, I made a hundred thousand dollars last month
online and I live in this van.

Speaker 3 (05:29):
People be like, that is definitely a scammer, a road
that does not compute. That does not compute.

Speaker 4 (05:35):
And Brad he was saying the exact same thing. But
what's really cool about Brad is he was he was
coming from his own He wasn't just quoting other people's research's.
He's explaining his own research on this study of millionaires
and how they think and how they operate. And so
I was like a living example of one extreme. And
then and then I think our relationship really started to

(05:56):
get closer. And you know, Brad and I were first friends,
and we started like actually mocking each other on TikTok.

Speaker 3 (06:05):
So I would like make a tick like.

Speaker 4 (06:06):
I'm doctor Brad Kleins, I'm super educated, and he would
do the same thing. I'm Adrian, I live in a
VA and look at me. We just started like collaborating
a lot.

Speaker 1 (06:14):
More classic mail bonding, making of each other, but.

Speaker 4 (06:16):
Yeah, it started from there and our messages are the same.
Is the same on wanting to help people make an
impact with their finances, and also how money is really
not about stuff, It's about freedom of time.

Speaker 1 (06:27):
I want to dig in for just a second, Adrian
on about making money online, and I feel like if
we wanted to, we could do a whole side podcast
just about that with you. You made money teaching people
how to do the robot dance. That's one of the
ways you've made money online. You've done in other ways too,
But that if people are out there listening and they
have this this roadblock into thinking can I start my

(06:48):
own thing? Can I make money online? To me, that
just shows that you can start a business in almost
anything and make money. Is that right?

Speaker 3 (06:54):
I believe it.

Speaker 4 (06:55):
I think I get frustrated when I hear people say
that they want to do something and then months go
by and they've really made no effort. A lot of
people get stuck in like their thinking time of like
they think about their idea and it almost feels like
work when you spend so much time thinking. But action
is like actually, specifically, if you want to do anything,
most likely you're going to have to hit the published button,

(07:17):
meaning post something online, post the blog, post the website page,
post a TikTok. And to me, that's like actually real
effort into whatever your idea is and trying to make
it happen, and oftentime, at the beginning, you don't make
any money.

Speaker 3 (07:30):
It's just straight up grind.

Speaker 4 (07:31):
I'm always first to share that it took me two
years to make forty five cents, so that was a
lot of.

Speaker 3 (07:40):
Effort posting online. I did not know what I was doing.

Speaker 4 (07:43):
And then two and a half years into it, that's
when I made my first thousand dollars online. And then
you know, stuff started compounding. And I've definitely not had
a romantic journey. I talk about my income a little
bit in the book, and we just did another podcast
and someone was like, Adrian, it looked like you're income
exploded in one year, and I talk about how like
it was my first year I made the leap to

(08:04):
seven figures and I was like one year that was
nine years into of like my entrepreneur journey. So it's
like that consistency of hitting published. There's a lot of
different ways to make money online. I'm a big fan
of the ones that don't require any capital, just a
little bit of effort creativity. And then I would say
getting over your own cringe factor for thinks like when

(08:28):
you post and you see your face online for the
first time, it's like eugh a. The time you hear
your voice online, or like like doing a podcast, you
might the first time you heard yourself talk, you're like,
oh my god, my voice. So it's like usually it's
that cringe factor. We just have to get over it.
And I feel like scrappiness is becomes your best friend
at the beginning and posting. I'm a big believer every
time you post, you create more opportunity and chances for

(08:49):
magic to happen.

Speaker 2 (08:50):
That loves looking at his own face in the mirror
that puls well, I'm still getting over the cringe factor
of my voice though, So I'll take that advice Adrian
doctor Brad so y'all, I'll start the book off with
a stats about the percentage of self made millionaires out there,
and so kind of within that context, like what does
self made mean? And what do you think that we
can all learn about wealth building by knowing that number?

Speaker 5 (09:13):
Yeah, it's a number that I found so inspiring when
I first ran across it, and I grew up lower income,
and so.

Speaker 1 (09:20):
I didn't really know.

Speaker 5 (09:21):
I didn't know any of the facts around how millionaires
actually behaved and how people became millionaires. And so when
in the studies I've done, it actually replicated this too.
But we're talking like, depending on the study, anywhere from yeah,
eighty to ninety percent of millionaires are self made. And
what's fascinating is that that mindset should be inspiring, that
should make you really excited. And if you have resistance

(09:44):
to it, that's where I get really curious as a psychologist,
because I mean, there's the stat in front of your face.
So what sort of bias do you have? What sort
of mindset do you have that wants to push that
away or push it down or redefine what the word
self made means. That's the classic example I get from
trolls on social media and they'll say stuff like, well,

(10:05):
you know, somebody changed your diaper, and it's like, well, yes,
you know, somebody fed you, and somebody changed your diaper.

Speaker 1 (10:11):
Somebody built roads for you to drive on.

Speaker 5 (10:13):
Exactly exactly. But the definition of self made and all
those studies are you didn't inherit any money, So that's
essentially the self made like perhaps you had loving parents,
perhaps you had went to public school and had a
teacher who taught you algebra. So of course we're not
here all by ourselves with everything we've achieved, but that's
really the distinguishing factor. And then a big part of

(10:35):
my research has been how do those people think differently?
How do they act differently? One of my passions is
and this project is so exciting for me because it's
the manual I wish I had when I was younger,
so I could have avoided making a bunch of mistakes
along the way.

Speaker 1 (10:52):
One of the most powerful quotes I ran across from
your book, you say, broke is temporary, but an unexamined
poor mindset can be per in it. So I know
sometimes with some of the gurus out, their mindset gets
talked about a lot. Is that really the crux of
the issue? I mean, because sometimes people will point to oh,
there's a lack of personal finance education. People just don't
know what to do, how important and how detrimental is

(11:16):
kind of that unexamined mindset.

Speaker 5 (11:18):
Well, in my unbiased opinion as a psychologist, I think
it's all mindset. And you know, the basics of personal
finance are really really simple, and I challenge anyone to
find somebody who already doesn't know what they should be
doing when it comes to money. We all know that
we should be saving for the future, you know, my
seven year old knows that. And we all know that

(11:39):
we shouldn't spend more than we make. Yet those are
the two biggest problems we have in the United States.
Nobody is staying broke and not achieving financial freedom because
they don't know the difference between a traditional iray and
a roth iray. So I think financial literacy is important.
And actually, when I did a study looking at the
impact of mindset versus is financial literacy, we put people

(12:01):
into two different groups. One of them, we gave them
a financial literacy class that you would find in college,
really good stuff taught by a PhD in financial planning,
and the other one we spent an hour just doing
mindset stuff. After that, we saw a seventy three percent
increase in savings rates in that group of the psychology intervention,

(12:22):
whereas we had about a twenty percent increase in the
other group. So financial literacy does matter, but you get
three x the effect by actually looking at your mindset,
because that's really what drives our financial behaviors.

Speaker 2 (12:34):
Yeah, you back that up because, like you spend a
lot of time talking about in the book, how a
lot of folks believe that the system is rigged, and
doctor Brad it seems like you hate that assertion, Like
you make a great argument for capitalism, not necessarily for it,
but just I guess maybe more of a acceptance of reality.
But is that just an aversion to maybe focusing on
your internal locus of control that you were such a

(12:57):
proponent of.

Speaker 5 (12:57):
Yeah, that's actually correct. We also do. We're very clear
that the system is not fair. I mean, there's nothing
fair about it. It perhaps more fair than most systems
that have existed throughout human history, but it's not certainly
not fair. We don't treat people the same way. People
aren't born into the same circumstances, Like as I mentioned,

(13:18):
I grew up lower income definitely did not have access
to the quality of education my kids are getting right now.
Totally unfair. We just think it's a very destructive mindset
to be stuck on that. You know, So the system
is it rigged against you? It's like it could be,
there could be aspects of it. We actually like to
look at it like it's actually a game. It's all
a game, and so it feels rigged to me growing

(13:41):
up lower income. I don't know anything about investing. I
feel like it's all rigged for people who actually do
know about investing. And the answer is, well, yes, it
is in the sense that they know how to play
the investing game. I don't know how to play the
investing game. And we use the metaphor of showing up
to a football game, you know, ready to play, but
you bring your your sneakers and your pickleball.

Speaker 1 (14:02):
Padd three hundred dollars paddle.

Speaker 5 (14:03):
Yeah, you're out there getting slammed, getting tackled, getting beat up,
and you're like, the system is rigged. It's like, well,
you showed up, you didn't know how to play the game,
you weren't prepared, and of course you're getting destroyed.

Speaker 1 (14:13):
Yeah, and we have to kind of And it makes
me think of when I play Settlers of Catan with
Matt and he's like the best at training, but then
sometimes he gets Oh, sometimes you turn people against you
though when we're playing. You have to know kind of
the happy medium.

Speaker 2 (14:26):
You define that as an underhanded compliment? Is that what
you call that, doctor Brad Claws?

Speaker 5 (14:32):
Yeah, as a psychologist, Oh, just friends, just giving it
to right.

Speaker 1 (14:37):
Just like you guys do. Adrian, you say that it's
not your fault if you're born poor, but it is
your fault if you die poor. And similar to your
buddy doctor Brad here, your family is an example I
would say of a rags to richest story as well.
Can you share that a little bit?

Speaker 4 (14:53):
Yeah, this was actually something my dad said, and he's
not at the original quote. This has been said a
lot of a lot of times in history by many, many,
many different people. But my dad immigrated here when he
was thirteen. My grandma is actually like our superhero. She
changed our bran Beila family tree. My dad's said was
murdered when he was about five. It was in Mexico,

(15:15):
in a very small village, and so she was commuting
from Mexico the US took for about a half a
year to save enough to bring her four kids over
to the US. And so my dad is a person
that said this to me. I was born here in
the first bran Beila to graduate from four university, and
I think that platform that I was I was given

(15:35):
from my parents. Like to me, I've just learned to
kind of adopt an immigrant mindset even though I didn't
immigrate here, and so my.

Speaker 3 (15:43):
Dad he as I was raised.

Speaker 4 (15:45):
It was kind of one of my money beliefs I
had is that like our family left the bad place
in this country, the US is like we left, we
well left the place where my dad actually did go hungry.
My dad had to steal food, like they struggle. There
was adversities that you don't even want to think of
that my family's face, and we came to the US
to change our circumstances. I've always had this really optimistic

(16:07):
lens also an immense pressure to not be a screw
up because I would be just a disrespectful to my
grandma and I would never ever want to do that.
So I feel like this is like some and Brad
and I have talked a lot it. We talked about
immigrants in the book, and like, this is kind of
an immigrant mindset is something I think is a great
thing to adopt, even if you didn't immigrant here, to

(16:27):
think of like immigrants, they see the world a little
bit differently when they come to a place, when they've
left something that is unspeakable and unimaginable and they come
to this country. And of course people born here they
don't realize how good they have it.

Speaker 3 (16:40):
It could actually be a lot worse.

Speaker 4 (16:42):
That's why immigrants come here so they escape those those
fates and then and then they try to make a
name for themselves in change. So, yeah, my dad is
the one that said that, and I believe in it,
and it's exactly as you read it. It makes me
kind of cringe a little bit because it is a
harsh truth.

Speaker 1 (16:58):
Yeah, it is to get political, but there's a reason
that tens of millions of people want to come into
this country every year, and far fewer are leaving a
lot of opportunity here.

Speaker 4 (17:07):
No.

Speaker 2 (17:08):
Another harsh truth that you'll say in the book is
that you should blame yourself if you're poor as an adult.

Speaker 1 (17:13):
And this kind of I guess piggybacks there as to
what you're.

Speaker 2 (17:16):
Speaking to Adrian. But my knee jerk reaction is that
this sounds like bad advice. But doctor Brad, why isn't it?

Speaker 5 (17:22):
Well, it's a gift. It's like, you know what, you
know what the worst possible advice would be. It's like, well,
you were born poor and you're going to be poor
until you die, because that's just how it is. That
is horrendous advice. Do you hate somebody if you tell
them that? Is that the idea or the belief that
you know the government's going to come in and save you,

(17:44):
or you know corporations are going to come in and
take care of you. I mean, essentially, these are harsh truths,
but they are the exact truths. I worked in a
low income high school for twenty years, and every now
and then a kid would be facing an issue, whatever
it is in their life, and every now and then
I'd get up and I'd go shut the door because
I didn't want any of the adults to hear what
I was about to tell them, and then I would
just give it to them straight. You know. It's like, well,

(18:04):
education is you know, it makes no sense, it's not
worth I'm like, you're right, it's a stupid game, you know.
But here's a chart on the more education you get,
the more money you make. So you know, what kind
of game do you want to play here? So I'm
willing to engage at that level of just real, real
talk and essentially this idea that everyone else is keeping

(18:25):
me broken poor. And by the way, there are people
who make a lot of money selling that. And not
to get on political, but politicians are great at doing that,
Like there's all these problems, you can do nothing about it.
I'm going to save you, you know, vote for me.
So this mindset is very pervasive in our culture, and
it's entirely self destructive. And so the more you can
blame yourself for everything in your life, the better it's

(18:47):
going to be for you. But for example, when I
go home today and my wife's grouchy at me, the
bailout so I can feel really good about myself is
to just blame her, you know, Oh my gosh, look
at her. She's not seeing what an incredible person I am.
You know, I'm such a victim, you know. But actually
the more effective approach, mindset wise, is for me to say, well,
I wonder, you know, if I haven't really been expressing

(19:08):
to her how much I love her. I wonder if
I haven't been giving her the experience she would love
to have, and so if I take that on. And
by the way, I do a lot of couples therapy too. People.
I'm always encouraging people to blame themselves for at least
half of the problems in the relationship because it is
so empowering because if you can take responsibility for it,
you can actually do something about it. When you externalize
the blame, you are going to be a prisoner to

(19:31):
your circumstances right now for the rest of your life.

Speaker 1 (19:34):
That's really good. Yeah, my wife is a budding marriage
and family therapist in her internship year right now, and yeah,
sometimes she meets couples and nobody wants to take responsibility
for what's going on. I mean, that's the case. It
takes all It feels like everything's got an impast and
you have to be able to see what you're contributing
to the negative vibes in your relationship because you're part

(19:56):
of what led you there. It takes twodor tango. There's
more to get to on this A conversation with doctor
Brad and Adrian. We're gonna talk about community, We're gonna
talk about consumption, and we're gonna talk about more harsh
truths that we're gonna yeah, take the heart so we
can get better with our money. We'll get to more
right after this.

Speaker 2 (20:21):
Right we are back from the break talking through some
of these different harsh but helpful money truths and fellas.
We know y'all story just from having read the book.
But I mean, getting rich it doesn't come without sacrifice. Adrian,
you're kind of highlighting that sort of minimalist van living Brad.
You've talked about paying off You had like massive amounts

(20:41):
of student loan debt, and you're able to I think
you're able to get rid of that in just a
few years while living a pretty spartan, meager lifestyle.

Speaker 1 (20:49):
Yeah, I wish I had a van.

Speaker 2 (20:52):
We're not even gonna go into the kind of furniture
that you had in your first place. But do y'all
think that your mindset did that feel those actions like
what allowed you just to take some of the steps
necessary in order to kind of get where you are today.

Speaker 4 (21:06):
For me, I really have to thank my parents. They
kind of really led through example of this immigrant mindset
that I talked about they did a couple of things
that today would be like people, I think, and actually,
I'm not even making this up. I've actually posted this
advice that I saw my parents did, and people revolt.
They think I'm like a terrible person for saying this.
I saw my parents, for example, not buying new clothes

(21:29):
for like three four years. They're just wearing the same stuff.
And then actually, if I look on family photos when
I was a kid, my dad's always wearing his like
Toyota mechanic looking shirt, and I like, back then, I
don't notice.

Speaker 3 (21:42):
I'm just a kid.

Speaker 4 (21:42):
But now looking back, and I've had this conversation with
my dad, is like, we were always wearing that shirt.
He's like, yeah, I didn't have any clothes. I just
wore my work stuff. Like when we had like family
barbecues and everything, he was wearing it. And again, that's
so if I give when I give that advice, I'm like, hey,
you want to save a lot of money, don't buy
anything new for the next four years, like you got enough.

Speaker 3 (22:00):
It's like, oh, how dare you say that? Like that's it.

Speaker 4 (22:02):
That's the insane because people have the sense of a
titlement that they always got to buy something new.

Speaker 3 (22:06):
And same thing to my parents.

Speaker 4 (22:07):
We like did not go out to eat ever, and
my parents are actually they cook bomb Mexican food. One day,
you guys can have it.

Speaker 3 (22:15):
It's so good. Absolutely, So I just saw that.

Speaker 4 (22:19):
And again, don't go out, don't spend money, and all
call like this is the un sexy part of finances.
But a lot of immigrants that are already doing this
things by default. So then when I started, uh making money,
and I always worked a job throughout my whole college,
multiple jobs, I always saved and I was super frugal
to begin with, and I and I went to the

(22:39):
very end of that extreme of living in a van.
But I do want to also say so I don't
come across as a hypoce if someone looks me up.
I do live in Austin, Texas. I have four walls,
air conditioning.

Speaker 3 (22:48):
It's very nice.

Speaker 4 (22:50):
But so you have to like and a pickball court, right,
so I am I am spending. But in those earlier years,
you know, I just saw this by default. I thought
this was normal and that part of sacrifice of every person.
I know that successful has to sacrifice in some capacity,
and that and that and that is one end of it.
It's like, how can you cut your costs? Again, not

(23:10):
the fun part, which is why we also talk about,
like one of the best and most fun ways is
how to increase your income because you know it can
cut so much.

Speaker 1 (23:18):
You guys talk about like you you guys both have
this bent towards minimalism. Adrian, You're kind of highlighting there
where you would tell somebody, hey, don't buy anything new
for four years, and most people would say that that
sounds like deprivation into the max. How dare you suggest
anyone do that. You kind of have this bent against
luxury goods as well, And I think lots of times
people have this assumption or this correlation that having more

(23:39):
money equals buy and fancier stuff. Why do you think
that correlation exists? Do you think we need to tear
it down? Yeah?

Speaker 5 (23:46):
So this this is one of the things that just
drives me nuts about social media. And by the way,
I try to have an open mind. And the reason
I try to have an open mind is because I've
read all the research that you'll make more money if
you have an open mind. So it's something I really
try to strive to have. But you'll see people spending
money on social media in ways that make you feel deprived.

(24:07):
And so I got really curious, like, how do wealthy
people spend their money? And what's sort of fascinating is
that it seems like the more money people have, the
smaller their designer logos. It's a really fascinating concept, all
the way to the point of not having outward displays
of wealth. And so in all the studies I've done,
we studied over one hundred thousand people at this point,

(24:28):
they tend to be money vigilant. So they have this
mindset that, oh, no, no, no, I need to save
money for the future. There's almost some anxiety around it.
You know, I'll be a nervous wreck if I didn't
have money, And if you ask me how much I
had and made, I'd probably downplay it. And so here's
the mind blowing thing. The people with the most money
are the ones who are downplaying how much money they have.

(24:49):
And conversely, our studies have found that the people who
are most addicted to outward displays of wealth I want
to show the world that I've made it. First of all,
they tend to come from lower socioeconomic homes like I did,
and I definitely felt prey to this where I felt
like I need to show the world I had made
it with these outward displays of wealth. And they also
they tend to pretend that they make more than they

(25:11):
actually do. So the big irony here is the people
who are flashing luxury goods and all that kind of
stuff and social media and in life tend to make
less and have lower income and also have lower self esteem.
So next time you see that in you're feeling deprived,
just understand that's the most likely scenario because the people

(25:32):
have the most money have no need to do that.

Speaker 2 (25:35):
Along that line, you talk about how most folks they
don't necessarily they don't want to just like have a
million dollars, they actually want to spend a million dollars.
And I think that's what you're speaking to here, the
fact that and you kind of did this exercise in
that chapter two where you're like, imagine you got a
million dollars, think about all the things you'd want to
spend it on, and so you start thinking, we're like, okay, okay,
you know, I'd like to spend on this and that,

(25:56):
and then you kind of pull the rug out from
under folks need talk about how maybe instead we should
be thinking about investing.

Speaker 5 (26:03):
Yeah, that's sort of the millionaire quiz we give people,
and it's such a setup. We're so mean.

Speaker 1 (26:07):
Yeah, you know what you do if you fill books.

Speaker 5 (26:11):
By the way, like when I teach high school kids,
I usually go in and ask that question and then
eventually someone in the class would go, I would invest it,
and then I point all my attention to that rich
mindset in the back of the room. And because essentially
that's it, we're trying to distinguish between the poor mindset
and the rich mindset. And the poor mindset is you
think about all the stuff you're gonna buy. So I'm
going to buy a house. I'm going to buy a
new car. Maybe I'm really nice. I'm gonna buy my

(26:32):
mama house. You know, I had a single mom for
a while. I want to shure that my appreciation. And
here's another one I want to I'm going to start
a business. Someone invested my business. So there's all this
list of things, and when you plot your calculator, you
can see that millionaire quickly not become a millionaire because
they're just spending all the money. Conversely, and we take
a hard line on this. The rich mindset would do

(26:53):
one thing. They would invest that money and using the
four percent rule, maybe they would take out maybe forty
thousand a year, and with that forty thousand dollars a year,
they might buy a house, they might invest in a business.
You know, most businesses fail, so you can keep doing
that year after year. The big mistake would be taking
three hundred thousand investing in a business. Now you've just
lost that statistically, especially if it's your first business. But

(27:16):
they would then use that to enhance their life. And
if they didn't do that, they would invest it and
in a matter of years they'd end up with three million,
four million, ten million dollars. So we really do try
to make that distinction because a lot of people, especially
who are just starting out on their journey to wealth,
they're really focused on the stuff they want to buy.
And what I have noticed over time is they'll they'll

(27:38):
get thirty forty thousand dollars put aside, and it should
they should be investing it. They'll yank it out and
they'll go buy that thing they wanted that they thought
would bring them happiness, and then of course it loses
its luster, and then they've lost all their money, and
that that is the mindset that I'm going to buy
stuff mindset that keeps people poor and frankly families poor
for generations.

Speaker 2 (27:58):
It's what, Yeah, you said, this is this luster, and
I think there is one section where you write that
investments aren't shiny, but they make your future bright, which
got me. And you're kind of talking about how our
brains are wired, you know, for prehistoric times whatever, and
it got me thinking about how I do wonder if,
like a one hundred tw hundred, three hundred years ago,
when investments truly were like gold and silver, I wonder

(28:21):
if those folks were better at saving and investing because
we're actually naturally because they literally had shiny rocks oure.

Speaker 1 (28:27):
Literally it was beautiful.

Speaker 2 (28:28):
It was this thing that we're drawn to as opposed
to investments today. It's hard to wrap your mind around
like numbers on a screen and saying that this is
something that I want to throw my entire weight behind.
But that is the thing that we have to do
in our modern society today. Doctor Brad, Have you seen
I guess other examples of just how maybe our brains
aren't necessarily suited for the modern world that we live

(28:49):
in today.

Speaker 5 (28:50):
Yeah, you know, and you said something there that's really
really important, and it's we are wired to consume things
right now. And the reason we're wired to consume that
right now is because we can smell them, we can
feel them, and we can taste them. And so the
hack here is how can you get very very clear,
specific goals of what you want in the future related

(29:12):
to your money. Don't make it abstract. You got to
make it concrete, make it so that you can feel it.
And so this is an exercise we actually did in
our studies with people. We had to create vision boards.
And there's a key element to this. So get really
excited about it, like not just retirement, what does that mean?

Speaker 1 (29:27):
Who are where are you? Who are you with? How
does it feel?

Speaker 5 (29:29):
Can you feel the sand between your toes right now? Yes,
get really excited about it. And then the second step is, Okay, great,
this is what you want more than anything else in
life right now. Set up separate accounts. Name those accounts
after those goals. So it's like European vacation, you know,
twenty twenty eight, whatever it is. Don't just make it

(29:51):
like some amorphous savings account. It's really boring money. You'll
get in there, and you're going to spend it all.
Name it after these really powerful, exciting goals, and this
is the key here. Then automate. So you're gonna you're
gonna harness the status quo bias which keeps many of
us stuck, but you can you can leverage that for
your own financial benefit. And every month money is going

(30:13):
to just go out of your checking account into those goals.
Then you got to then all the money you got left,
just spend that any way you want, but make sure
that you're taking care of those things. But you have
to override this impulse to spend it now. And the
only reason we want to spend it now is because
it's it's visceral, we can feel it. Most of our
decisions are made from our emotional brain and it only
knows what it can see and taste and experience. And

(30:35):
so you want to give yourself really clear goals and
get in touch with those emotions and why it matters
so much to you, and then automate. Automate. Automate, because
if you leave it to yourself to write a check
each month, your your plan will.

Speaker 1 (30:48):
Fail, Adrian one of the suggestions and it feels like
another hard suggestion because of course that's what you guys
are doing with this book, is to get rid of
your poor friends. Should be offended at that and like,
I don't know, did you have you cut people out
of your life? Like what does this look like in reality?

Speaker 3 (31:02):
Oh, this is such a tough one.

Speaker 4 (31:04):
I can't believe you asked me and not doctor brad
here No, but this this is a tough one. You know,
if you want to get rich, get rid of your
boy friends. And this was probably the most controversial I
think chapter headline that we have, and I do want
to mention for if you guys want to read this book.
Every every chapter is is made with love and the
headlines really it's kind of like a wake up call.

(31:24):
And this one when I and every single chapter title
we used. You know, we have almost three million followers online.
You tested each chapter and based off the engagement, we
decided run within. This one had thousands of people live it,
which was a sign we should keep it. But there
was also people who read through this because in every
self help book I've ever read, they always say the

(31:45):
law of averages, you're the average of the five people
you surround stuff by. This is the exact same concept
if you're hanging around with people who are making minimum wage.
And I'm just speaking from my own experiences when I
was working with people with a minimum wage. There's some
people who are trying to not make minimum wage forever.
There's some people who really aren't thinking about the future

(32:06):
at all. The difference of conversation sounds like this, like, Hey, yo,
Friday is coming up. Yo, I can't wait. What are
we gonna do on Friday? It's like, Yo, we gotta
go to the clubs. We gotta go out, we gotta spend.

Speaker 3 (32:15):
Let's go out. Let's go out and grab some drinks.

Speaker 4 (32:17):
Like they're looking forward to pay day because they're probably
running out of money. And then when payday happen, instead
of like going putting those that money responsibly, they're going
to go and spend it and blow it. And this
happens whether you're making minimum wage or six figures, because
half of people that make six figures actually live paycheck
to paycheck, which is crazy, just elevated lifestyle. So it'd
be like, when you're making money and you go out
with friends, are you hanging out with savers or spenders.

(32:39):
Are you hanging out with people who are spending from
their passive income through investments or they're spending through.

Speaker 3 (32:44):
Their active income.

Speaker 4 (32:45):
You got people who have nice cars, they do nice things,
they fly first class. All this stuff is great. It's
okay to do this. These are things I do. But
how you spend the money is a huge difference. Are
you trading your time to get these things?

Speaker 3 (32:58):
You are you?

Speaker 4 (33:00):
Is it your investments that are paying for And I
think that's the biggest difference between I would say someone
has a poor mindset and a rich mindset. A poor
mindset if someone says they make twenty bucks an hour
they want to buy PS five and they're calculating, Okay,
I need to work ten, twenty or thirty hours to
get the PS five plus the controllers and the games
that I want, whereas investment, a rich mindset is going
to say, I also want the PS five, but I

(33:22):
need to invest and make sure my dividends or payments
are going to cover so I can. I don't have
to trade my time or hourly hourly economic value to
get the PS five. But friend, this is this is
a tough one because you know, family. Most families are born,
you know, we don't get born with multimillionaire guru parents

(33:43):
and siblings. So sometimes your family is not the best place.
Often it isn't to get money value. I'll just share transparently.
My family was really great at saving. I learned how
to be really frugal. But my parents were not really
good at investment thing. They didn't invest in the stock market.
They invested in treasury and they did bonds and CDs,

(34:06):
and they always thought that the stock market was way
too risky. And so like I had to, I had
to seek external help and ask questions, like to one
of my first mentors at a college, professor was like,
what's a roth ray? You mentioned that I've never heard
of this thing, and and so you know, sometimes your family, uh,
maybe you have no good examples of family. Maybe they're
terrible spenders. They have racked up credit card that and

(34:28):
they think it's normal. They think paying it.

Speaker 3 (34:29):
Off is a total waste.

Speaker 4 (34:30):
These are people that I'm not saying you have to
cut them out completely, but you do if you can
find people who are where you're at, but they want
to have an upward trajection versus stay the same.

Speaker 3 (34:41):
That's all.

Speaker 4 (34:42):
What we're really saying is to be careful of who
you get your money advice from and try to find
a tribe of people who are trying to elevate their status,
not necessarily saying hey, like, okay, I read this, I
need to find some millionaire friends and then start knocking
on doors looking familiars. Like that's going to be a losing,
losing place. But Brad and I say, there's people right
now who are broke, but they have a rich mindset
and it's only a matter of time for them to

(35:03):
be doing well.

Speaker 1 (35:04):
So on we met our time. I love that.

Speaker 2 (35:06):
Yeah, you got to be It pays to be selective
with who it is that you surround yourself with. So
you're talking about just I guess, taking more if you're
playing the rich game versus if you're playing the poor game,
and how you view spending money. But on the earning
side of the equation, you guys have a chapter titled
you Don't Deserve More, which, again this sounds really harsh.
But why doctor Brad, I'll pitch this one to you,

(35:28):
But why do you believe that folks out there they
don't deserve to make more money?

Speaker 1 (35:32):
Yeah?

Speaker 5 (35:33):
So what we're really trying to say here is that
it's not about your personal worth, Like you're obviously priceless,
you're a priceless human being, but your economic worth is
being determined by the marketplace, and for you to be
in denial about that and to just blame external factors.
So it's your boss, it's your corporation, it's all these
other people, and that's the reason why that you're not
getting paid enough. We just feel like that's an extremely

(35:55):
limiting and self destructive mindset. And so essentially the mindset
we want you to have is that you're getting paid
what's you're worth right now. That's what the market is saying.
And you might say, well that's unfair or I deserve more,
and we're saying, well, I'm not sure.

Speaker 3 (36:08):
That you do.

Speaker 5 (36:09):
Like, if you want to get paid more, maybe you
need to increase your economic value you're worth. And so
maybe that means that you need to go back to school.
Maybe that means you need to get another skill set.
I mean, there's a bunch of different ways you can
increase your economic worth. Maybe you need to work harder.
And if you say to me, oh no, but I'm
worth so much more and nobody's paying attention. Then the

(36:29):
question is are you in the right job. Like, for example,
you could be the best possible public school teacher ever.
You could go to Washington, d c. And get the
Presidential Medal of Freedom because you're an incredible teacher, and
when you go back, you're going to get paid the
same amount because it's about how long you've been teaching.
So maybe you're in the wrong game if you're wanting

(36:49):
to make more money, or perhaps you can say that
it really comes down to the fact that I truly
am being undervalued, and so we would say, then well,
maybe you need to look to move to a place
where you can get paid what you actually think you're worth,
or at least test that theory out. And if you
can't find anyone who will pay you more, then maybe
you need to go back to our chapter and saying, well,
you're getting paid what you were and so it's really
a message of empowerment.

Speaker 1 (37:10):
Frankly, I mean you're spot on the teacher thing. I
was talking to someone the other day and you can
like literally look up how much teachers get paid based
on the level of education that they have. You could
have a doctorate from Harvard and you're still going to
be capped at like one hundred and thirty thousand dollars
a year at most public schools something like that. Obviously,
it's going to vary a little bit depending on what
school district you're teaching in, but that is something to

(37:32):
take note of. It. It doesn't mean that you don't
still decide to pursue teaching as a profession because it's
something that you love, it's near dear to your heart,
but just know, yeah, yeah, the marketplace is going to
determine what you get paid. Another provocative phrase that I
read in the book is retirement is for dead people.
And I was thinking, man, we talked about saving or
investing for retirement so much on this show, but if

(37:53):
retirement is a worthless concept or it's just for dead people,
then what have we been doing here?

Speaker 5 (37:58):
Well, you know what we did is we look up
the word the definition of the word retirement to start with,
and it basically means to stop working. And when you
look up the definition of work, work is you know,
effort put into achieving a purpose or a result. And
so part of what we're doing with this chapter is
a couple things so versus a clinical observation. So people

(38:20):
will very often pin their hopes and dreams on retirement,
like then I'll be happy. Then all my life's going
to be great, all my problems are going to melt away.
And they'll do one of two things. They'll stay in
a job they hate with this idea that retirement is
really going to get me what I want, which is
a terrible way to go through life. Or they will
they won't put any thought into what retirement means, and

(38:42):
they'll think, I'll just stop working. And I've seen people
cash out on you know, twenty five million payout on
their business. I've seen people and to retirement after they've
been hustling for years and years and years, and then
six months into it they're depressed and lonely. They got
no sense of purpose. And so what we're really doing
here is to redefine what that means for people because

(39:03):
for many really important psychological reasons.

Speaker 1 (39:05):
Yeah.

Speaker 2 (39:06):
Actually, I think in that chapter you talk about RHS,
which is I think it's retired husband syndrome. So can
you talk about that, like you, I can't.

Speaker 1 (39:15):
Remember the exact stats that syndrome whatever it is.

Speaker 2 (39:17):
Well, specifically in Japan, I think that is that like
an actual clinical diagnosis it is.

Speaker 5 (39:23):
I'll kick it over to Adrian, who just spent a
couple months in Japan. I'm not sure if you're researching
that concept while you're there, Adrian, No.

Speaker 4 (39:29):
But it's become such an epidemic of this retirement of
losing a sense of purpose that it causes I mean,
it's it's sad, but it causes death. It even causes suicide.
It causes such a level of depression because because there's
no sense a sense of purpose, so they have they've
created programs that kind of like are are in place

(39:52):
to help because this and this is the whole I
would say, the dark side of retirement. We don't think
we retirement ads are all painted like they're like nice
and Sepia toned with sunsets and beaches. But the dark
side is like, oh my god, I don't know what
to do and I'm like, like what am I supposed
to do with my life? And I don't know how

(40:13):
many years I left and this is this my right purpose?
Like and having almost so much unstructured time is actually
a problem you have. You have to have some sense
of purpose. So in Japan, they actually created programs to
help with this because it's actually a serious issue and
it it's hard.

Speaker 3 (40:34):
You know, I'm I'm thirty five years old, so I
I think.

Speaker 4 (40:39):
The best thing I can do is try to like
live a lifestyle that I don't want to retire from.
And I think that's what we can all try to
hope and aspire to, because it's hard to imagine thirty
years from now. For I would say me and a
lot of people actually really think about thirty years from now,
whatever the number is for you, when you would like
to think yourself retired and then and then all that
unstructured time, it might not be a good thing.

Speaker 3 (41:01):
We might need to have something to do.

Speaker 4 (41:02):
But one thing you can do to make sure that
that's not like such a big moment is to actually
start living a life that you would that you don't
need to retire from, that you don't need to vacation from,
that that you just really love exactly.

Speaker 1 (41:15):
Yeah, that's uh.

Speaker 2 (41:16):
We talk about Coast fire and how there's it's a
dimmer switch as opposed to like a hard switch where
it's either on or off.

Speaker 1 (41:23):
But if you hate your job right now, it doesn't
mean you're going to like quit tomorrow. Find the job
of your dreams the next day. It's not gonna happen overnight,
but I agree like changing changing that slowly but surely
is crucial.

Speaker 5 (41:33):
Yeah, I'd strongly encourage you to love your job instead
of hating it. That that's terrible. So find ways to
love it, that's one possibility. Or maybe look to transition
to something that you can actually really enjoy, because life
is short, and for you to spend fifty years at
a job you hate is just that is very I'm

(41:55):
not going to recommend that as your psychologist. I think
that's a terrible idea. And so yeah, we're trying to
sort of redefine that and ideally like try to have
some of that retirement now, you know, like how can
you buy back more of your time and what would
you really picture yourself doing. Oh, well, I want to
play then I'll play golf. It's like, well, maybe you
should start finding ways to play golf.

Speaker 1 (42:15):
Now, Yeah, you're white.

Speaker 5 (42:16):
Your wife's will understand just.

Speaker 2 (42:18):
A little a little bit on the front end. Now,
Otherwise that way you don't find yourself in an existential
crisis further on down the road.

Speaker 1 (42:25):
But you're actually good at golf in retirement then too.

Speaker 2 (42:27):
Yeah, and you've got friends to play with because you've
maintained relationships all along the way. But Doctor Brad Adrian,
we've got more to get to. Maybe we'll get to
some of the different extreme measures that folks should consider
taking when they're looking to boost their income.

Speaker 1 (42:41):
We will get to that and more right after this. Right,
we're back for still talking with doctor Brad and Adrian
talking about harsh but helpful money truths. Just kind of
drill sergeant it, drill sergeant Y. So they're laying it
out there like they see it. In one of the

(43:03):
final chapters, Guys, you cover kind of some extreme ways
that we should be changing our money habits. And I
think sometimes people are like, oh, just move the rudder
slowly but surely. And I was kind of actually alluding
to that. When it comes to changing your job, that
doesn't usually happen overnight, but when it comes to changing
some of our money habits, you think maybe the more quickly,
the more extreme, the better.

Speaker 3 (43:24):
Right.

Speaker 5 (43:25):
Yeah, So sometimes we hear people say I can't afford
to invest, and you know, again we sort of explore
that hypothesis, like, I mean, maybe that's true. By the way,
I don't think so. I bet if you let Adrian
and I really get in there, I bet you we
could find some places that you could if you had
just had the mindset that you investing was really important you.

(43:46):
So for the we have a chapter that's titled get
a roommate, get on the bus, get sober, get bald,
or shut up about being broke, you know. And so
it's like pay yourself first first of all, you know,
go get a side hustle, make some extra income. Not
to get too far into it, but Adrian is the
side hustle king. And by the way, it's great, like

(44:06):
he gave me. I told him my son wanted to
make some money. He's eleven. Adrian's like, oh, maybe he
could do this side hustle. Get this, My eleven year
old son is making five grand this month from his
little side hustle. What. Yeah, absolutely, and they'll tell you
all about it. But for this chapter, it's like make
some cuts, you know, like you can't afford to invest,
go ahead and make some cuts. So we looked at

(44:27):
how much the average American spends on rent, on their car,
on alcohol, and on going to the salon, and you know,
just to make that a short story. If you got
a roommate, if you rode the bus, if you shaved
your head like I do, by the way, you'll look great.

Speaker 1 (44:46):
What if I have a lumpy head, Brad, have a
lumpy head.

Speaker 5 (44:49):
It's worth it.

Speaker 1 (44:49):
It's worth it.

Speaker 5 (44:50):
And if you did all that and for twenty five
years and you just invested the savings, you'd have two
point eight million dollars more. And that's the average American.
So there's all sorts things you could cut. Those things
will probably sound terrible to you, So then just pay
yourself first or look to increase your income. But we
accept no excuses.

Speaker 2 (45:08):
Yeah, so the joke actually is is that I started
to cut my own hair, Brad, when I was ten
years old.

Speaker 1 (45:13):
So I've got a solid thirty plus years.

Speaker 2 (45:16):
Of not having paid the barber. However much, can you
give a quick thirty second breakdown as to how it
is your eleven year old is making five grand?

Speaker 1 (45:22):
Yeah?

Speaker 5 (45:22):
Sure, I'm gonna kick it over to Adrian, because Adrian
turned me onto the side hustle. And by the way,
the first month he made thirty seven cents and this
month he's set to make five grand.

Speaker 4 (45:31):
Adrian, Okay, I'll make this really specific so people can
actually do this from this podcast. So there is an Amazon.
If you've been shopping lately, you notice that in the
product there you have the photos and then typically have
a video from the company. So I have a Tragger grill,
for example, and Trager the company makes a video saying

(45:52):
this is Trager Grill, It's the best smoker in the world.

Speaker 3 (45:54):
Well, people, we don't really.

Speaker 4 (45:56):
Buy into an official company video because they're never going
to say something bad about their own product, right or
like raw or authentic. So Amazon noticed that in the
review sections at the very bottom when you click at
the reviews, that just because people wanted to do it
for no reason, they were creating their own product review
videos of the of the products. So, and I know

(46:17):
I've I often will go to the reviews. I look
at the videos and say, what is this person Like,
I want to see what it looks like and I
want to hear just some raw cut, normal person like, hey, yeah,
this is my Trigger grill. Just smoked up salmon here,
and no, you know, it's pretty good like that kind
of stuff. It's way more authentic. And they learned that
when people watch that video because of the authenticity. It

(46:37):
would increase the conversion rate of this of the amount
of people who would say, yes, I am going to
buy this trigger grill because of those raw, human, regular,
unprofessional videos. So Amazon created this program to incentivize that.
And now today when you go shopping, instead of those
videos being at the bottom, they actually get officially placed
in the product reviews. You can go on your phone

(46:57):
right now and look at any type of product and
might actually have you keep swiping a regular video from
Joe Schmo just talking about whatever this product is and
just giving his raw, unbiased testimonial of his user.

Speaker 3 (47:10):
Is application of it. Okay, So this is the opportunity.

Speaker 4 (47:14):
Amazon is now has a program where you can create
product reviews off of anything in your house that's that
you've purchased from Amazon, and then you can upload those
to Amazon kind of like YouTube, and then you they're
at they would actually exist on the product page. And
how you make money is when someone watches at least
thirty seconds of your video and then purchases, you're gonna

(47:35):
make a two to five percent commission on that product.
But here's the thing where it gets crazy and how
it can scale quickly is, uh, there's another business model
online called affiliate marketing, and so that one works completely opposite.
You take you have a trigger, grill affiliate link, and
I basically have to go out into the world and say, guys,
buy this trigger, Guys buy this trigger. But right now,
if I just made a video and you upload it

(47:57):
to the Amazon page, there's there's already people by the
hundreds thousands or some products tens of thousands that are
purchasing every day, and now your video is just going
to exist on there. So if you have a really
successful video that's increasing the conversion rate, you have all
the already built in traffic of regular buyers who are
watching and buying and watching and buying and watching and buying.
And so like my I did a review on my

(48:18):
Shark vacuums like a Rumba, and then on Black Friday
Cyber Monday last year, that one video I made made
two thousand bucks in that one day from all the
amount of people who watched it and check it out.
So if you want to go and sign up, it's free.
It's called the Amazon Influencer Program. And you don't need
to be an influencer. You just have to be active
on social media.

Speaker 1 (48:37):
That's cool. So many unique ways to make money out there. Last,
but not least, I just want to say, like you guys,
when we're talking about the extreme measures, the extreme suggestions
that you guys offer to basically get your money back
in shape, well you also talk about I guess your time,
and maybe sometimes what we lack is is money to
start something we want to we want to get off

(48:58):
the ground. But oftentimes it's it can feel like a
lack of time. But Brad, you guys highlight how canceling Netflix.
It might not seem extreme, but it's kind of integral
to prospering because when you think about binging a TV show,
how much time we're wasting. How big of a problem
is that to people actually succeeding with those goals.

Speaker 5 (49:15):
Yeah, so you know Netflix costs you so much more
than whatever monthly fee you're paying for. It costs you
so many hours of your life. Now that's fine. You
can spend your life anyway you want, just don't complain
about being broke if you're spending all that time binging Netflix.
And this was Adrian's very clever idea. So we have

(49:36):
a chapter that talks about this particular side hustle we
just talked about, but he goes through like the top
ten Netflix series and he adds up the number of
hours that you would take out of your life to
watch that entire series, and he connects it directly to
a side hustle that could increase your income by one
thousand and fifteen hundred a month, And if you just

(49:56):
invested that time in that side hustle instead, you could
be matically increasing your income. So it's it's a bit
of an intervention, and we encourage people to pull out
their phone right now and look at how much time
they're spending on their phone, because chances are if you
just took that time and invested it in a side
hustle or in increasing your economic value, that you'd you know, profoundly,

(50:21):
profoundly advance yourself in terms of how much money you're
able to make.

Speaker 2 (50:24):
Yeah, it's not just the sixty hours that you're going
to spend binging breaking back.

Speaker 1 (50:29):
It's the countless hours, the sad.

Speaker 2 (50:31):
Reality of looking at your screen time and realizing how
often we're also on Instagram and whatever social media is
your particular advice, but doctor brad Adrian, we really appreciate
you guys, chat with us today. We really like y'all's
approach and I think it's I think it's needed out there.

Speaker 1 (50:46):
There's a lot of books.

Speaker 2 (50:47):
That are They're kind, they're comforting, you know, it's like
a warm, blankly epathetic. Sometimes you just need to hear
straight but yeah, sometimes you need the raw, harsh truths.
But working folks. Learn more about the that will be
available for sale next Tuesday.

Speaker 3 (51:03):
Awesome.

Speaker 4 (51:03):
Yes, Actually, first of all, thank you so much for
having us, and so we wanted to create a special page.
You can definitely get the book wherever you buy books,
or you could go to start Thinking Rich dot com
slash how to Money, and if you go through that link,
you'll be able to get a link to the book.
But most importantly, you'll get extra bonuses. And that's just
when we can give back to your audience for having us.

Speaker 1 (51:23):
Awesome fellas, we so appreciate it. Thank you again for joining.

Speaker 3 (51:26):
Us, Thanks so much for having us, for having us.

Speaker 2 (51:29):
All right, Joel, was this the first interview that we've
had with two separate guests who weren't in the same place.

Speaker 1 (51:35):
There might be I think so this is.

Speaker 2 (51:37):
The first time we'll have a four track recording that
I got tod. No, this was an awesome conversation though
with both doctor Brad and Adrian. Do you have a
big takeaway from our I would say fun convo with them.
It's fun to talk talk with another company that was
so fun.

Speaker 1 (51:50):
They were great and those It's like so much good
information in this one. So if you want to, if
you're inclined to send an episode to friends or family,
this this might be a good one. Right to get
the ball roll out on a good money money convo.
But I think the thing that stuck out to me
the most was when Adrian said, you got to hit
publish and then you got a grind, and he detailed
kind of how long it took him to actually become

(52:12):
profitable when it came to online businesses. He was starting
wrote that down too, and man, this is two years. Yeah,
I was gonna you didn't say it, so I said
it two years. It's took him two years before he
was making anything. Even then it wasn't much. You gotta
stick with it. You gotta have that belief and you
got to say I know what I'm going after here.
There's so much content that gets made in the passive

(52:34):
income space, whether you're talking about real estate, whether we're
talking about online business formation, and so much of it is, Hey,
it's really easy, it'll happen overnight, and you're gonna make
tons of money. And I think ninety eight percent of
the time it's a scam. It's a lie. Actually, probably
more than ninety eight percent of the time. And so
I appreciate kind of the realism that Adrian brought to
that conversation. It's like, yeah, you can make big money.

(52:56):
You can get to the point where you can buy
a forty thousand dollars paillball court put it in your
back like he is. You can get there, but it's
gonna take time and dedication. It's not gonna be built
in a day. Totally. Yeah.

Speaker 2 (53:06):
So my big takeaway is also going to be from Adrian,
and it's when we were talking about retirement. I mean,
he said some great stuff, but for whatever reason, whatever
Audrian was saying today spoke to both of us. But
he said to try and create a lifestyle. But this
is what he does. I try and create a lifestyle
that I don't want to retire from. Holy Cow. That
completely resonated with me as I think through like, at
this point, maybe we're closer to retirement than we are

(53:28):
like the very beginning of our career. And when you think,
so many of like my bigger actually retirements for dead people. Maths,
it's for dead people. But many more of my thoughts
have meant about the bigger questions, as you know, like
what do I want my life to look like like
later on down the road? And what I'm realizing is
I really like what my life looks like now, and
so how can I start to incorporate more fun elements
and things that I enjoy on a day to day

(53:49):
basis so that I can continue living the life that
I'm living now without feeling like that there needs to
be a massive.

Speaker 1 (53:54):
Departure from quote unquote work. But uh yeah, So we
live in a culture that he said that that's obsessed
with work, that's kind of centered around work, and so
you have to kind of be like a salmon swimming upstream.
You have to go against the current to be the
kind of person who says I'm not going to make
work the central animating focus of my life. It's probably
going to take some proactive steps on your part. It's
probably gonna take some time to start to change that
so that you do enjoy your life more in the

(54:16):
here and now, and so that maybe work is not
non existent right when I talk about retiring, but so
that it's not just the end all be all.

Speaker 2 (54:24):
Yeah, you don't want to over idolize it and put
it up on this pedestal, but it's also not something
that you're completely going to dismiss because it is how
you're able to, you know, contribute to the world.

Speaker 1 (54:32):
But all right, let's get to the beer. You and
I real quickly. Here we enjoyed a Jewel City, which.

Speaker 2 (54:37):
I guess they're calling a California Common beer, like a
is like a farmhouse common or like I don't know,
maybe something like that. No, no, no, but this is a
beer by Brewyard Beer Co.

Speaker 1 (54:46):
What were your thoughts?

Speaker 2 (54:47):
Oh, and thank you to our buddy jo akaa other Joel.

Speaker 1 (54:52):
For donating this one to the podcast. Akay Better Joel,
Thank you, Joel. This is this was a classic amber
style beer. It had the kind of ca normal, sweet
vibes that you typically get from an amber matt. When
I first started drinking craft beers, ambers and those kind
of brown nails were my absolute favorite. So it's just
brought me back to those kind of early craft beer

(55:12):
drinking days. Couldn't agree more. Yeah, it's got that Those
toasted malts.

Speaker 2 (55:16):
Just makes it makes you feel like you're munching on
a really great piece of toast. Yeah, crust included because
that's the best part. With a little drizzel honey on it.
It's got a little sweetness.

Speaker 3 (55:24):
Right.

Speaker 2 (55:25):
But I'm glad you know I got to share this
one today. But you can head to the show notes
at howdomoney dot com. We'll make sure to link to
the url that the Fellas are going to be setting
up there where you can get some extras in addition
to their book.

Speaker 1 (55:38):
Start thinking rich. But buddy, that is going to be
it for this episode.

Speaker 2 (55:42):
So until next time, best Friends Out, Best Friends Out,

All Episodes

Episode Transcript

Hosts And Creators

Joel Larsgaard

Matthew Altmix

Popular Podcasts

On Purpose with Jay Shetty

The Breakfast Club

The Joe Rogan Experience

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}Harsh But Helpful Money Truths w/ Dr. Brad Klontz & Adrian Brambila #896