April 7, 2024 • 32 mins
Ever wondered if rolling the dice in finance is your ticket to riches or ruin? We, Anton Leftwich and Michel Dupoux – your Finance Bros, are here to unravel the dazzling, yet treacherous, intersection of gambling and finances. Expect a thrilling journey as we discuss the highs of windfall wins and the sobering aftermath of taxing realities, drawing upon our own understanding to help you process why placing bets should never be your go-to financial strategy. We're approaching our closing out on our second season soon with a bang and teasing our leap to television, all while arming you with the critical knowledge to navigate these choppy waters, should you ever decide to tempt fate.
Get ready to explore the blurred lines between smart investments and outright gambling, as we very briefly dissect the concept of Indexed Universal Life (IUL) insurance and its place in the stock market playground. With us, you'll face the dizzying ups and downs of a cryptocurrency reference along with sports betting, learning to keep a cool head amid the seduction of potential quick wins. But it's not all about the adrenaline rush; we also weigh the genuine value of asset-building ventures like homeownership and the fleeting excitement of speculation. It's a rollercoaster of insights you won't want to miss.
Our final chapter is a contemplative dive into the mental fortitude required for responsible gambling. Laugh along as a cheeky t-shirt slogan sparks a profound conversation about the delicate balance between trusting your gut and recognizing the point of excess. Through personal anecdotes and heartfelt advice, we delve into the true essence of gambling, whether on the Vegas strip or in the hustle of daily life. Wrapping up, we reflect on the intrinsic rewards of investing in relationships over roulette, hinting that the most gratifying bets in life are those placed on the well-being of others. Join us for this thoughtful charge into finance and risk—may your decisions be as informed as they are bold.
Learn more about the FBN initiative and get access to all social media platforms at https://linktr.ee/fbnlinks
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
First and foremost, we want to be clear that what we
are sharing with you arestrategies and concepts that can
be implemented by individualswho understand the logistics of
how to approach such platformsas far as the literal, the
(00:27):
mental and spiritual formatneeded to be successful with
your aspirations what's up world?
Speaker 2 (00:58):
you tune in to fbn and, yes, this is another
episode of Finance Bros Network.
Speaker 1 (01:03):
I am the one half of Finance Bros, anton Lefwich, and
this is Michael DePoe, theother half, the other half and
we are honored, as usual, to behere to bring in finance for
everybody yes, indeed, andserving our diverse communities,
as always.
Speaker 2 (01:23):
Yes sir, yes sir, Mike, man, it's crazy, it's
already getting to the last partof our second season.
Speaker 1 (01:30):
This is episode 10.
Speaker 2 (01:32):
Episode 10.
We about to get out of here forthe summer in a little bit Yo
yo yo.
Speaker 1 (01:37):
I'm sorry, man, we didn't want to tell our people,
our constituents.
I know, man, they're going tomiss us, they're going gonna
miss us, they're gonna miss us,but hey, we're gonna be coming
tv real soon, so they're gonnaget to see us and stream us
whenever they want.
Speaker 2 (01:50):
That's true.
That's then they can, you know,they can get us on the way to
work on the, on the podcast allday, all day, that's what's up
and look and with withtraditional finance as we keep
this train rolling right youknow, we want to talk about all
aspects of finance, even in theessence of some things that have
to do with making money thatmay not be so, let's say,
(02:14):
guaranteed.
Speaker 1 (02:17):
There's definitely no guarantees with this.
So what are we talking abouttoday, Mike?
We are talking about gambling.
Speaker 2 (02:24):
There's definitely no guarantee.
Speaker 1 (02:26):
Listen, listen, listen.
Hey, it just reminds me of thesong we Gotta Know when To Hold
Em Know.
Speaker 2 (02:34):
When To Fold Em.
Speaker 1 (02:36):
Know when To Walk Away, know when To Run, listen
Sony, not Bad Boy Records,arista bad boy records.
Right now I got a problem.
We are willing to signcontracts, so was that all?
Speaker 2 (02:54):
I was only willie nelson.
Speaker 1 (02:56):
We don't want you know hey, in the spirit of
beyonce going country, why not?
Speaker 2 (03:04):
that's what's up, man .
Well, yeah, we do want to.
You know, just touch on thistopic and give some again.
We always want to.
You know, provide fundamentalsis in this aspect, I guess we
would be more education offundamentals and then, you know,
create some awareness so youknow people.
If people are far wealthiansare going to do that out there
you know, let's just, let's justmake sure they have the game to
(03:25):
take with them.
Speaker 1 (03:26):
And at the end of the day, it's gambling right.
It's money that you worked hardfor, right, or that you
received and you're pretty muchgoing to throw it away, right.
Speaker 2 (03:39):
Yeah, that's true.
Hey, remember when we said oneof those episodes where we said
hope is not a strategy?
There you go.
Well, neither is gambling.
How about that?
I told you we got an average ofthree t-shirts episode.
Speaker 1 (03:51):
I'm telling you, even though we only plan to give one
.
Speaker 2 (03:55):
I'm telling you, we're averaging three right now.
Yup, yup.
I hear you I hear you, soshould I dive into the yeah,
let's, let's get into it let's,let's get into it.
Okay, so cool we want you know.
You know, as you know, mike,the genius he is, is breaking
things down to the simple, weget the abc one, two, three.
So we just figured we give thegood the bag and the ugly the
(04:16):
good, the bad and ugly, and sowe're talking about the essence
of gambling, all right.
So, yeah, obviously, got thegood, you can win.
There, you, there you go.
That's beautiful.
You could go out and gamble andyou could win, yep, okay.
However, there's still aconsequence to that winning,
which is taxes.
Oh, all right, we won't talkabout the tiers of taxes.
It's a lot, it is.
(04:37):
There are different formsgambling you may be doing mike's
gonna go over the differenttypes of gambling here in a
little bit right, mike right,but just know, even if you win,
you still gotta have to givesomething to uncle sam.
Speaker 1 (04:48):
He won his cut, yep and matter of fact, it's, it's
the highest tier, right?
Wow see, it's the highestbecause the government believes
found money it's it's not hardworking money, so if you find
money, I want my cut so it'simportant to know that's a form
of found money.
Speaker 2 (05:06):
Yes, quote unquote right so and we're we're
assuming that these things arebeing done legally, of course of
course, right of course.
Speaker 1 (05:13):
Okay, we always want to assume deposit well, real
talk, you take that kind ofmoney if you, if you're putting
10 000 plus cash in your account, you know you got to fill out a
form yeah, you do.
Speaker 2 (05:24):
Yeah, so if you go, if you go to the casino and you
win a jackpot over twelvehundred dollars, yeah, they come
into you with the, with thepaperwork right, the slot
manager, right, right anythingover ten thousand dollars.
Speaker 1 (05:36):
The government want to know what's going on because
they believe anything over tenthousand dollars that is being
done through their system,whether through a banking system
or through some type offinancial institution or
something.
There's some documentationsaying hey, so-and-so got
(05:57):
$10,000.
So-and-so gave that $10,000.
Speaker 2 (06:02):
So are you basically saying Uncle Sam is saying if
you got 10, I want in there, yougo, absolutely.
If you hit 10, we want in there, you go, man.
So the good, obviously youcould win, but there are also
going to be some consequences totaxes and, by the way, there's
(06:24):
consequences with the good, thebad and the ugly.
So, we're just letting you know.
It happens in all forms, allright, so that's the good we got
you.
You could win the bad,obviously you could lose.
You could lose the money, allright, that's bad all the way
around.
Yeah, and that's I mean.
You know, god forbid you loseyour bill, money or whatever.
So I mean that goes into theugly right there, Right, right,
(06:48):
right.
Speaker 1 (06:48):
Well, the lose and I'm saying the bad is losing the
money.
You lose money that you wereready to lose, right.
Right exactly, it's not moneythat you had to pay off.
Speaker 2 (07:03):
Yeah, that's the bad, you had it to lose.
You had it to lose.
It's still bad, but at that youhad to pay.
Yeah, yeah, that's the bad.
It to lose.
You had it.
It's still bad, but at leastyou had it to lose.
That then.
That's.
That's the difference.
Speaker 1 (07:11):
So so the bad is, you had it to lose and you lost the
money.
It is what it is, hey, you justlick your wounds and move on to
the next right, exactly now theugly?
Speaker 2 (07:22):
no, now you lost some money that you didn't have.
All right, so now, now we getinto the ugly, and the
consequences of that, of course,is, you know, going along with
the lines of addiction.
And you know, now there's a,there's a habit.
We're starting to notice thatthere's a habit being formed and
I mean, for whatever reason,certain certain you know people,
(07:42):
certain you know some, some ofus just can't walk away from it
Exactly, and then obviouslythat's, that's a problem and and
you know, we gotta, we gottaget a hold of that.
Speaker 1 (07:51):
Right, we gotta do that.
Speaker 2 (07:53):
That's through whatever, whatever they gotta do
.
We don't want, we don't want togive recommendations or
anything on how to do that, butit's just.
Obviously we know there's aproblem.
Speaker 1 (08:00):
We got to get a hold of it Right and when you have an
addiction.
You're now gambling away yourwealth.
You're gambling away yourfinancial stability.
So, and you know that's reallybad and that's why we're saying
it's the ugly because thatdoesn't look good for anybody
(08:22):
Not for you, not for your family, not for your family members,
god forbid.
You have kids, yeah, for real.
You have a wife or you have,you know, a significant other
that depends on your income, andthen you have this addiction
and that becomes problematic.
Speaker 2 (08:38):
Yeah, that gets serious, man.
Everybody, not just us, buteverybody around us, right In a
sense, I mean, and we want tobreed wealth in you, not just us
, but everybody around us, rightIn a sense, I mean, and we want
to, we want to breed wealthy isnot, not broke ins.
Speaker 3 (08:49):
Oh, that's an Antonism right there.
Antonism right there, broke ins.
Speaker 1 (08:55):
We went from wealthy ins to broke ins.
Speaker 2 (08:57):
We want to stay on the wealthy track.
We want to stay on the wealthytrack at all times, right, and I
think you're going to talkabout, kind of just some
different forms of gambling,some things that are known out
there, right, and so you know,we all we all look at gambling
as OK or think about gambling.
Speaker 1 (09:13):
If I go to the casino and I gamble, that's a form of
gambling, right.
Or if we're going to a crapsgame, or playing poker at the
table, playing blackjack,baccarat, Baccarat there's all
different forms of gambling inperson, but there are some other
(09:36):
forms of gambling that arehidden that you still might be
addicted to.
So I'll do something that'saccessible to especially our
wealthy ends is lotto playing.
Lotto playing scratches yeah,those little scratchers,
scratches and everything.
So, like you know, they saidyou got to be in it to win it.
You know, all you need is adollar in a dream, you know, but
(10:00):
that's a form of gambling.
If you didn't think it wasgambling, it is a form of
gambling.
Speaker 3 (10:03):
If you didn't think it was gambling.
Speaker 1 (10:05):
It is a form of gambling.
It's again you're putting moneyto something that you don't
know what chances you have ofgetting back up front.
Speaker 2 (10:16):
And that's the main thing we're driving home is the
fact that if we're going to doit, just know that the odds are
not in our favor.
Speaker 1 (10:24):
It never is, especially at the casino, what
they always say Go ahead.
Speaker 2 (10:28):
The house always wins , the house always wins.
So know that for everythingyou're winning, somebody else is
losing Exactly Ten times over.
Speaker 1 (10:39):
So, if you're at a casino, if you're winning, walk
away, walk away.
Speaker 2 (10:43):
That's the win right there.
Walking away while you'rewinning, walk away, walk away.
That's the win right there,yeah, walking away while you're
up.
Speaker 1 (10:48):
Yeah, and that's the win.
But we'll elaborate on that,yeah, yeah, here's some other
things you might have not thinkof Playing the stock market.
When you're putting your moneyin the stock market, you are
gambling.
Now, that form of gambling isstrategic right.
Some people make a living offthe stock market.
(11:09):
Let's just say, a lot of peoplemake a living off of the stock
market.
But that's gambling, is it's a?
It's a low risk because whatyou're doing is getting
information and putting a bet onthat information.
And the simplest way I couldexplain a stock market where it
(11:32):
makes sense to gamble in it'slike if, let's say, you're
straight up connected with thestock market, you're going in
onto, let's say, e-trade and, uh, it's springtime and you see a
farm with oranges, right, so theoranges are going to bloom,
(11:54):
right, so you decide that thatthat farmer okay, they have an
IPO, whatever, all right, I'mgoing to put my stock in oranges
.
That's a.
That's a strategic way ofgambling because you're putting
your money into something thatyou know is going to grow.
You see how, where theinformation.
But now what happens?
(12:14):
God forbid, there's a hurricane.
Speaker 2 (12:17):
You didn't see that coming.
Speaker 1 (12:18):
You didn't see that coming.
So that's where the risk, or wecall it risk management comes
in.
That's where risk managementmeets probability exactly so it
is still a form of gambling, butit's a industrial, uh,
industry-wide, um uh weight ofgambling.
(12:39):
It's, it's been commercializedand businesses do it.
Speaker 2 (12:43):
Everybody goes into the stock market but it's still,
ladies and gentlemen, a form ofgambling and bro, I, I honestly
, uh, truthfully for me I wouldhave a hard time even calling it
low risk in some way, in a lotof ways, because I mean, try
telling that to people in 2008,right, right, but you want to
know something yeah, I was gonnatell you, you know something
(13:05):
that there are structured waysthat the stock market helps um
you know, helps you make moneyAbsolutely.
Speaker 1 (13:11):
And we talk about it all the time going into IULs.
Speaker 2 (13:15):
That's true.
Now we're talking about acertain strategy of leveraging
the market and, you know,gaining on the upside.
But having that, that, thatprotection on the on the floor,
yeah, of course, yeah.
Speaker 1 (13:26):
But again, it's still a form of gambling.
Believe it or not, it's a formof gambling, but it's a lower
risk Right.
Your risk management at thatpoint is very detailed.
Speaker 2 (13:37):
Yeah, now, if you're talking about that technique,
right.
Speaker 1 (13:40):
It's very structured and it's a low risk?
Speaker 2 (13:44):
Yeah, because with an IUL financial instrument,
you're going to benefit when themarket goes up, but if the
market goes down, your floor iszero and you don't lose.
So yes, that is a verystrategic way of leveraging the
market and still getting whatyou want exactly so kind of you
know over time, you'll, you'll,you'll, the money will compound
right exactly, exactly sothere's.
Speaker 1 (14:05):
so there's a structured way of gambling, and
that's why a lot of people getinto it, but at the end of the
day guess what?
You're still gambling.
You're still gambling.
That's true.
Speaker 2 (14:13):
That's true.
And even though the market hasdone an average of like 6% over
the last 30 or 40 years ifyou're talking about the.
S&p or whatever, but I meanstill and let me explain.
Speaker 1 (14:24):
How does that make sense, or how do people feel
about that makes sense, or howdo people feel about that?
Uh, so let's say with the stockmarket, they say if you're in
it for the long term.
Don't watch it right, becausethe stock market goes up and
down, so if you're sitting thereand you're watching the market
goes up and down.
It's gonna it's gonna drive youcrazy, just like any other
(14:44):
gambler right we're saying don'tlet your emotions expend your
money exactly, exactly.
So Emotions will kick in, right.
So think about that.
So if you're going into thestock market depending on the
structure way or the industrystructure that is made to go
into the stock market, which isa lower risk of you losing your
money, then it's fine.
(15:05):
But if it's a higher risk whereyou're just buying let's say
you're buying options, rightright, that's definitely a
higher risk.
Yeah, that's a higher risk.
Speaker 2 (15:09):
Where you're just buying, let's say you're buying
options, right right, that'sdefinitely a higher risk.
Yeah, that's a good point youbring up, mike, because if
you're buying into, like indexesor very conservative funds, and
yeah, that can definitely beconsidered a much lower risk way
of getting into the market,right right, and how volatile
your money may or may not beExactly so I could definitely
(15:30):
see that Like.
Speaker 1 (15:31):
Bitcoin, even crypto Crypto.
It's a high risk way ofgambling.
I hope you're not emotional.
Speaker 2 (15:38):
Because that's a rollercoaster ride.
Speaker 1 (15:39):
It's a rollercoaster ride Again it's another form of
gambling and some otherhonorable mention, like horse
racing, sport betting.
Sport betting has grown so bignow.
A lot of states are legalizingsports betting.
And then you have it.
(16:00):
It's on apps.
You have apps now that you cangamble.
You can pretty much gambleanything these days on app, and
that's why we're talking aboutthis.
It's so accessible, right, soaccessible.
You can pretty much gambleanything these days on that.
And that's why we're talkingabout this, because, at the end,
of the day.
Speaker 2 (16:13):
It's so accessible, right, so accessible.
Speaker 1 (16:14):
And at the end of the day the money's coming straight
out of your account Because youworked as a wealthy and you
worked hard to get this money.
You worked hard to put themoney in the bank.
You have savings and prettymuch when you start putting it
in these different type ofbranches of gambling, you know
(16:35):
you have that risk of losingwhat you worked so hard to put
in.
That's true man.
So you really really have tohave the right mindset and the
understanding of okay, I'm goingto do this or I'm not going to
do this.
I'm going to use this, I'm notgonna do this, I'm gonna use
this, I'm not gonna use this.
Speaker 2 (16:52):
So you know your limits, you know and and no one,
we're not a pro you know we seethese?
I mean, come on, we see socialmedia, these, these, these
famous sports bettors, right,but in reality it's like those
are the michael jordans ofbetting.
Really, if we look, take a deeplook into it, yeah, they're
making millions of dollarsbetting.
You know.
They're not talking about thehours and hours that they spent
(17:15):
day and night looking at thelogistics to make these educated
decisions.
They're studying this stuff dayand night and it's being
portrayed as if somebody canjust pick up and go in and do
what they're doing, and that'snot reality and it's not.
Speaker 1 (17:30):
If I mean, some people actually went to vegas,
to live in vegas because of ofthat lottery or or winning
mindset that they have that theycould hit it big because
they're.
They're in that environment and, and I'm pretty sure, gambling
anonymous is very huge in.
(17:51):
Vegas and you know, definitely.
If you know somebody who hasthat problem, that addiction,
please get them help.
Speaker 2 (18:00):
There are help for people out there.
Speaker 1 (18:03):
And you know and again, we're just bringing you
the information I mean there areresources to go out there to go
look for those help, but, um,at the end of the day, it we
just want to let you know it isa form of gambling and and you
are losing finance and financeand if it gets to an addiction
(18:25):
and it's finance that you needfor you to live, you're not
going to be able to live and doall the stuff that we talk about
on this podcast that you needfor you to live.
You're not going to be able tolive and do all the stuff that
we talk about on this podcastthat you could be doing with
your money in order to grow youknow, so, and somebody might say
, oh, gambling could be alsoconsidered buying a house.
It's a gamble, but it's notgambling.
(18:47):
There's a it's a gamble, isthat?
Because now you're trading yourcash for an asset?
Speaker 2 (18:54):
something tangible, it's something tangible, so hold
on to.
Speaker 1 (18:57):
So if you have something, 10, it's not gambling
, because you have something ofvalue, yeah, yeah, so you can't
call that gamble don't?
Speaker 2 (19:05):
I mean getting in your car and driving down the
street could be a gamble,exactly, exactly, especially if
you and I don't want to saywhere, but in some inner cities.
You know what I mean?
Yeah, you know, we know that,being in california.
Speaker 1 (19:18):
So, yeah, so so you got to be mindful of of the type
of gambling and and all thedifferent type of gamblings out
there and you know we're notsaying for you not to gamble
again.
It's having a good time.
Speaker 2 (19:31):
Yeah, yeah, have a good time.
Yeah, have a good time.
Speaker 1 (19:33):
Have a great time, but know that this is the money
that you're going to use.
We all use it in different ways.
Some people have exotic tripsand vacations.
Speaker 2 (19:41):
Let's just do it responsibly.
Speaker 1 (19:43):
Right, but some people will take that same money
, go on an exotic trip, they'llgo to the casino and then
they'll have a good time.
That's a good time for them.
Speaker 2 (19:52):
And they might not do it again for years.
Speaker 1 (19:54):
Yeah, exactly, and if they win, oh my God, it's a
plus.
Speaker 2 (19:58):
It's a plus yeah, it's a plus.
And they're ecstatic.
And then guess what they doWalk away, walk away.
Are you kidding me?
I'm up $200.
Speaker 1 (20:13):
I'm out of here, so yeah, so we just wanted to bring
FBN, wanted to bring this tothe platform.
We wanted to make sure that ourwealthians understand.
We know you're out there, weknow it's in front of you.
If you're not recognizing that,this is what it is, it is what
it is.
I mean, the biggest takeaway isgoing to be to make sure you
(20:33):
use what you can lose.
And that brings us right intothe literal Right into the
breakdown, the breakdown theliteral, the mental and the
spiritual.
So the literal would be don'tgamble money you don't have
Period.
Period If you don't have themoney.
Tangible currency don't gambleit, that's, that's pretty
(20:56):
straightforward, because if thatmoney is for rent, this money
is for the food.
That money, it's not money.
You have to gamble yeah, man, Ihave.
Speaker 2 (21:07):
I have another shirt, man, I'm sorry, I have to say
it bro I gotta say it, becauseif I don't say it I'm going to
forget, I'm going to be mad atmyself.
All right, go ahead, give it tome.
It's gambling where riskmanagement meets probability,
okay.
Speaker 1 (21:21):
That's a real technical t-shirt there.
Speaker 2 (21:24):
I just wanted to get it out.
Speaker 1 (21:25):
All right, it's out Now I know, it's all been
recorded.
Speaker 2 (21:27):
All right, it's out.
Go on, mike, go on, go on Go on.
Speaker 1 (21:30):
So now the mental the mental is make a conscious
decision to only gamble what youcould afford to lose.
Yes, absolutely, becausementally, if you're gambling,
like you said from the literal,don't gamble what money you
don't have, yeah, yeah, themental would be okay I have this
(21:51):
money to gamble, but can Iafford to lose this money?
Man, I didn't catch that, yeahI have this money to gamble, but
can I afford to lose this money.
Speaker 2 (22:03):
There's a difference, there is a, there's a very,
very there.
There is a very concise shiftin that statement.
Exactly so you've got to make aconscious decision.
Speaker 1 (22:13):
If you choose to go to gamble, if you could afford
to lose this money and this isagain, this is at all levels,
you know we could have ourwealthy ends in Vegas.
It's easy access Pretty much7-Elevens gas station, any way
you you walk, you could put adollar.
Well, I was going to say put aquarter in a slot machine, then
(22:35):
that's aging me, you can slide adollar.
They don't have those anymorethey do have penny machines and
quarter machines maybe they gotthem.
Speaker 2 (22:49):
They want to do like antique shows.
Speaker 1 (22:52):
Right, but you really you're not really getting any
money if you're winning fromthem because you're only betting
a quarter or a penny, but Imean, so they put dollars in.
Yeah, so now the machines takedollars.
Speaker 2 (23:05):
You can swipe your credit cards.
Speaker 1 (23:06):
But in Vegas they have them all over, all over,
everywhere yougas, they havethem all over, all over,
everywhere you go, they havethem.
So, again, you have to makethat content, you have to
mentally make that consciousdecision yeah if you're willing
to lose that money, that you'rewilling to gamble.
I like it, brother.
Okay, it's real.
And then you know what it jumpsjumps into the spiritual
(23:29):
brother, you know it, man.
Speaker 2 (23:30):
So the spiritual here is trust your instincts.
You know, we got to give themthe champ legacy.
If you think you are doing toomuch, guess what you are, you
are and walk away.
Exactly, believe in your spirit.
Believe in your spirit that youneed to step away, and then do
that there you go.
That's it.
There you go.
Speaker 1 (23:52):
I ain't feeling this no more yeah right, believe it
in your spirit.
It's, it's in spiritual yourspirit.
Yeah, believe in your spirittrust it.
Speaker 2 (24:00):
Trust it, man.
And you know, I mean the times,the the times in our life when
we said out loud, man, I think Imight be doing too much.
Didn't we already know that wewere?
Rather you working too muchrather the family stress or the
career stress or whatever it is,you just sit there and you
think.
The only time you think toyourself I think I might be
(24:23):
doing too much is when you aredoing too much.
Speaker 1 (24:25):
That's it, and it's cutting drunk and you know it,
you know it.
Speaker 2 (24:31):
You have that feeling .
Why you?
Speaker 1 (24:33):
said it out loud, exactly, you know it.
You have that feeling thatyou're doing too much, and then,
if you push yourself over, overthat, that's when it starts to
become.
You're not, you may not beaddictive yet, addictive yet,
but you're doing too much.
You're doing too much.
You know you're doing too muchwhen you yet, but you're doing
too much, you're doing too, much.
You know you're doing too much.
(24:53):
When you recognize that you'redoing too much, you know, just
just have that, hey.
I mean, I know some people arebelievers in god or believers in
the universe.
They pray to the universe orpray to god or pray to whoever
pray to, to Buddha, do whateverworks for you.
Speaker 2 (25:10):
Whatever works for you.
Speaker 1 (25:11):
Whatever is going to make you walk away to say a
prayer or just to say it outloud oh, I need to walk away, I
need to walk.
Speaker 2 (25:21):
Let that move you, let that spiritual force move
you to walk away, take time out,put yourself on time out, count
to 10.
Take a deep breath.
Whatever you got to do.
Speaker 1 (25:29):
Whatever you got to do, wealthy, because that's
what's going to help you.
Again, at the end of the day,you worked hard for that money,
or however you received thatmoney, you could be doing a lot
more with that money.
Even if you were given thatmoney a lot more, you could be
helping a lot more people.
Hey, do that, then your heartwill be fulfilled.
You're not gambling your way,you're helping somebody with the
(25:50):
money and, again, like I said,wow, gambling on people, exactly
.
Speaker 2 (25:55):
Wow.
Speaker 1 (26:00):
Exactly, that's a whole nother level right there.
Hey, help some people out, takethat money you were going to
gamble.
Help some people out with thatmoney and see how you get that
three times or four times full.
Yeah, why not take that gamble?
Speaker 2 (26:10):
How about that I?
Speaker 1 (26:12):
like that.
Speaker 2 (26:13):
I love it, mike.
Invest in people, which we Imean a lot of us we do that.
We invest with our time or weinvest money, whatever it might
be.
Speaker 1 (26:21):
Exactly, exactly and, like I said, you never know.
You might get that three timesfour man and it's probably going
to help your spirit.
Speaker 2 (26:31):
That's what's up.
I like it, brother, so we.
That leaves us with the t-shirt.
Speaker 1 (26:33):
With the t-shirt, yeah, we're wrapping up, so the
t-shirt would be know when tohold them and know when to walk
away.
Yeah, it's a little bit fromthe song, but it's not the song
yeah but definitely if I had at-shirt that says no one to hold
them, no one to walk away, Iprobably would wear that in
Vegas.
See, I like going to Vegasbecause there's a lot of
(26:56):
conventions.
Speaker 2 (26:58):
I go to certain conventions.
You never put a dollar in theslot machine ever.
Oh, of course.
Speaker 1 (27:02):
It's money I can lose Okay.
Hey, listen, you don't see Idon't come back from Vegas and
say yo, yo, anton, can you giveme $100?
Speaker 2 (27:16):
for the week that go back to our season one.
Right there, can I get a littlesomething?
Speaker 1 (27:22):
Something something.
Speaker 2 (27:24):
Yeah, you never do that, that's for sure.
Mike, listen, I know.
Speaker 1 (27:27):
I love Vegas, I'm not going to lie.
I love Vegas for the lights.
I love it, not gonna lie.
I love Vegas for the lights, Ilove it for the colors, I love
it for the entertainment andeverything.
And obviously you know I don'tmind the gambling, but I know
myself and I know what I canlose and so whenever I go and I
definitely know when to walkaway yeah, if I'm up double or
(27:51):
triple deuces.
Speaker 2 (27:53):
I am out.
Speaker 1 (27:56):
And I want to stay because the attraction is there?
Speaker 2 (27:59):
Yeah, yeah, I want to stay, but I like when I go home
or if that little gambling playpaid for the trip.
Speaker 1 (28:05):
Hallelujah, oh nice.
I was like I got a free trip.
If that little gambling playpaid for the trip.
Hallelujahs, oh nice.
Speaker 2 (28:13):
I was like I got a free trip.
This was free 99.
Speaker 1 (28:18):
Free 99.
For free, I'm like for free,For free.
Speaker 3 (28:23):
So I definitely yeah, I definitely enjoy it.
Speaker 1 (28:27):
You know for what it is, yeah, but you know, not
everybody has that restraint,that's true, and not everybody
has, you know, that mindset andthat's why we're here bringing
it to you at Finance Bros.
Speaker 2 (28:40):
Network.
Speaker 1 (28:41):
To let you guys know we are here for you.
We will always.
Anything about finance, we'lllet you know.
Speaker 2 (28:50):
To help you out.
We'll always be cool to talkabout it.
Whatever it is, we'll talkabout it.
And if people are, mike,obviously, if people are sending
us material that they want tohear about DMing us, sending us
messages, emails, whatever wewill be encouraged to talk about
it.
We will make sure we will makeit our business to talk about it
.
There you go, Because we wantto put it out there.
(29:11):
That's it, yeah, mike.
So, uh, man, we we wrapping itup, like we said, we getting
them to work, and that's it.
That's it.
Uh man, we got three episodesleft for the season.
You guys, with our wealthy endshere every week, mike, you know,
always, of course.
Don't forget to check us out onall your social media podcast
(29:32):
platforms Apple Podcasts,iheartradio, spotify, google
Podcasts.
It might be up down left, right, depends on which social media
platform you might be watchingon, but don't forget to come
check us out.
And also, don't forget to comecheck us out anytime or night,
24 7, on our home at hhn tv.
(29:53):
And, as usual, mike, Iappreciate you, that's right,
and we'll see you at the bank.
Peace y'all, take care world.
Speaker 3 (30:08):
Thank you.
I know you love me.
(30:38):
I know you love me, you'reeverywhere.
You say you're all I need.
(31:00):
You're everywhere.
I know you love me.
I know you love me, you'reeverywhere, thank you.
(31:48):
Thank you for watching.
First and foremost, we want to be clear that what we
are sharing with you arestrategies and concepts that can
be implemented by individualswho understand the logistics of
how to approach such platformsas far as the literal, the
(00:27):
mental and spiritual formatneeded to be successful with
your aspirations what's up world?
Speaker 2 (00:58):
you tune in to fbn and, yes, this is another
episode of Finance Bros Network.
Speaker 1 (01:03):
I am the one half of Finance Bros, anton Lefwich, and
this is Michael DePoe, theother half, the other half and
we are honored, as usual, to behere to bring in finance for
everybody yes, indeed, andserving our diverse communities,
as always.
Speaker 2 (01:23):
Yes sir, yes sir, Mike, man, it's crazy, it's
already getting to the last partof our second season.
Speaker 1 (01:30):
This is episode 10.
Speaker 2 (01:32):
Episode 10.
We about to get out of here forthe summer in a little bit Yo
yo yo.
Speaker 1 (01:37):
I'm sorry, man, we didn't want to tell our people,
our constituents.
I know, man, they're going tomiss us, they're going gonna
miss us, they're gonna miss us,but hey, we're gonna be coming
tv real soon, so they're gonnaget to see us and stream us
whenever they want.
Speaker 2 (01:50):
That's true.
That's then they can, you know,they can get us on the way to
work on the, on the podcast allday, all day, that's what's up
and look and with withtraditional finance as we keep
this train rolling right youknow, we want to talk about all
aspects of finance, even in theessence of some things that have
to do with making money thatmay not be so, let's say,
(02:14):
guaranteed.
Speaker 1 (02:17):
There's definitely no guarantees with this.
So what are we talking abouttoday, Mike?
We are talking about gambling.
Speaker 2 (02:24):
There's definitely no guarantee.
Speaker 1 (02:26):
Listen, listen, listen.
Hey, it just reminds me of thesong we Gotta Know when To Hold
Em Know.
Speaker 2 (02:34):
When To Fold Em.
Speaker 1 (02:36):
Know when To Walk Away, know when To Run, listen
Sony, not Bad Boy Records,arista bad boy records.
Right now I got a problem.
We are willing to signcontracts, so was that all?
Speaker 2 (02:54):
I was only willie nelson.
Speaker 1 (02:56):
We don't want you know hey, in the spirit of
beyonce going country, why not?
Speaker 2 (03:04):
that's what's up, man .
Well, yeah, we do want to.
You know, just touch on thistopic and give some again.
We always want to.
You know, provide fundamentalsis in this aspect, I guess we
would be more education offundamentals and then, you know,
create some awareness so youknow people.
If people are far wealthiansare going to do that out there
you know, let's just, let's justmake sure they have the game to
(03:25):
take with them.
Speaker 1 (03:26):
And at the end of the day, it's gambling right.
It's money that you worked hardfor, right, or that you
received and you're pretty muchgoing to throw it away, right.
Speaker 2 (03:39):
Yeah, that's true.
Hey, remember when we said oneof those episodes where we said
hope is not a strategy?
There you go.
Well, neither is gambling.
How about that?
I told you we got an average ofthree t-shirts episode.
Speaker 1 (03:51):
I'm telling you, even though we only plan to give one
.
Speaker 2 (03:55):
I'm telling you, we're averaging three right now.
Yup, yup.
I hear you I hear you, soshould I dive into the yeah,
let's, let's get into it let's,let's get into it.
Okay, so cool we want you know.
You know, as you know, mike,the genius he is, is breaking
things down to the simple, weget the abc one, two, three.
So we just figured we give thegood the bag and the ugly the
(04:16):
good, the bad and ugly, and sowe're talking about the essence
of gambling, all right.
So, yeah, obviously, got thegood, you can win.
There, you, there you go.
That's beautiful.
You could go out and gamble andyou could win, yep, okay.
However, there's still aconsequence to that winning,
which is taxes.
Oh, all right, we won't talkabout the tiers of taxes.
It's a lot, it is.
(04:37):
There are different formsgambling you may be doing mike's
gonna go over the differenttypes of gambling here in a
little bit right, mike right,but just know, even if you win,
you still gotta have to givesomething to uncle sam.
Speaker 1 (04:48):
He won his cut, yep and matter of fact, it's, it's
the highest tier, right?
Wow see, it's the highestbecause the government believes
found money it's it's not hardworking money, so if you find
money, I want my cut so it'simportant to know that's a form
of found money.
Speaker 2 (05:06):
Yes, quote unquote right so and we're we're
assuming that these things arebeing done legally, of course of
course, right of course.
Speaker 1 (05:13):
Okay, we always want to assume deposit well, real
talk, you take that kind ofmoney if you, if you're putting
10 000 plus cash in your account, you know you got to fill out a
form yeah, you do.
Speaker 2 (05:24):
Yeah, so if you go, if you go to the casino and you
win a jackpot over twelvehundred dollars, yeah, they come
into you with the, with thepaperwork right, the slot
manager, right, right anythingover ten thousand dollars.
Speaker 1 (05:36):
The government want to know what's going on because
they believe anything over tenthousand dollars that is being
done through their system,whether through a banking system
or through some type offinancial institution or
something.
There's some documentationsaying hey, so-and-so got
(05:57):
$10,000.
So-and-so gave that $10,000.
Speaker 2 (06:02):
So are you basically saying Uncle Sam is saying if
you got 10, I want in there, yougo, absolutely.
If you hit 10, we want in there, you go, man.
So the good, obviously youcould win, but there are also
going to be some consequences totaxes and, by the way, there's
(06:24):
consequences with the good, thebad and the ugly.
So, we're just letting you know.
It happens in all forms, allright, so that's the good we got
you.
You could win the bad,obviously you could lose.
You could lose the money, allright, that's bad all the way
around.
Yeah, and that's I mean.
You know, god forbid you loseyour bill, money or whatever.
So I mean that goes into theugly right there, Right, right,
(06:48):
right.
Speaker 1 (06:48):
Well, the lose and I'm saying the bad is losing the
money.
You lose money that you wereready to lose, right.
Right exactly, it's not moneythat you had to pay off.
Speaker 2 (07:03):
Yeah, that's the bad, you had it to lose.
You had it to lose.
It's still bad, but at that youhad to pay.
Yeah, yeah, that's the bad.
It to lose.
You had it.
It's still bad, but at leastyou had it to lose.
That then.
That's.
That's the difference.
Speaker 1 (07:11):
So so the bad is, you had it to lose and you lost the
money.
It is what it is, hey, you justlick your wounds and move on to
the next right, exactly now theugly?
Speaker 2 (07:22):
no, now you lost some money that you didn't have.
All right, so now, now we getinto the ugly, and the
consequences of that, of course,is, you know, going along with
the lines of addiction.
And you know, now there's a,there's a habit.
We're starting to notice thatthere's a habit being formed and
I mean, for whatever reason,certain certain you know people,
(07:42):
certain you know some, some ofus just can't walk away from it
Exactly, and then obviouslythat's, that's a problem and and
you know, we gotta, we gottaget a hold of that.
Speaker 1 (07:51):
Right, we gotta do that.
Speaker 2 (07:53):
That's through whatever, whatever they gotta do
.
We don't want, we don't want togive recommendations or
anything on how to do that, butit's just.
Obviously we know there's aproblem.
Speaker 1 (08:00):
We got to get a hold of it Right and when you have an
addiction.
You're now gambling away yourwealth.
You're gambling away yourfinancial stability.
So, and you know that's reallybad and that's why we're saying
it's the ugly because thatdoesn't look good for anybody
(08:22):
Not for you, not for your family, not for your family members,
god forbid.
You have kids, yeah, for real.
You have a wife or you have,you know, a significant other
that depends on your income, andthen you have this addiction
and that becomes problematic.
Speaker 2 (08:38):
Yeah, that gets serious, man.
Everybody, not just us, buteverybody around us, right In a
sense, I mean, and we want tobreed wealth in you, not just us
, but everybody around us, rightIn a sense, I mean, and we want
to, we want to breed wealthy isnot, not broke ins.
Speaker 3 (08:49):
Oh, that's an Antonism right there.
Antonism right there, broke ins.
Speaker 1 (08:55):
We went from wealthy ins to broke ins.
Speaker 2 (08:57):
We want to stay on the wealthy track.
We want to stay on the wealthytrack at all times, right, and I
think you're going to talkabout, kind of just some
different forms of gambling,some things that are known out
there, right, and so you know,we all we all look at gambling
as OK or think about gambling.
Speaker 1 (09:13):
If I go to the casino and I gamble, that's a form of
gambling, right.
Or if we're going to a crapsgame, or playing poker at the
table, playing blackjack,baccarat, Baccarat there's all
different forms of gambling inperson, but there are some other
(09:36):
forms of gambling that arehidden that you still might be
addicted to.
So I'll do something that'saccessible to especially our
wealthy ends is lotto playing.
Lotto playing scratches yeah,those little scratchers,
scratches and everything.
So, like you know, they saidyou got to be in it to win it.
You know, all you need is adollar in a dream, you know, but
(10:00):
that's a form of gambling.
If you didn't think it wasgambling, it is a form of
gambling.
Speaker 3 (10:03):
If you didn't think it was gambling.
Speaker 1 (10:05):
It is a form of gambling.
It's again you're putting moneyto something that you don't
know what chances you have ofgetting back up front.
Speaker 2 (10:16):
And that's the main thing we're driving home is the
fact that if we're going to doit, just know that the odds are
not in our favor.
Speaker 1 (10:24):
It never is, especially at the casino, what
they always say Go ahead.
Speaker 2 (10:28):
The house always wins , the house always wins.
So know that for everythingyou're winning, somebody else is
losing Exactly Ten times over.
Speaker 1 (10:39):
So, if you're at a casino, if you're winning, walk
away, walk away.
Speaker 2 (10:43):
That's the win right there.
Walking away while you'rewinning, walk away, walk away.
That's the win right there,yeah, walking away while you're
up.
Speaker 1 (10:48):
Yeah, and that's the win.
But we'll elaborate on that,yeah, yeah, here's some other
things you might have not thinkof Playing the stock market.
When you're putting your moneyin the stock market, you are
gambling.
Now, that form of gambling isstrategic right.
Some people make a living offthe stock market.
(11:09):
Let's just say, a lot of peoplemake a living off of the stock
market.
But that's gambling, is it's a?
It's a low risk because whatyou're doing is getting
information and putting a bet onthat information.
And the simplest way I couldexplain a stock market where it
(11:32):
makes sense to gamble in it'slike if, let's say, you're
straight up connected with thestock market, you're going in
onto, let's say, e-trade and, uh, it's springtime and you see a
farm with oranges, right, so theoranges are going to bloom,
(11:54):
right, so you decide that thatthat farmer okay, they have an
IPO, whatever, all right, I'mgoing to put my stock in oranges
.
That's a.
That's a strategic way ofgambling because you're putting
your money into something thatyou know is going to grow.
You see how, where theinformation.
But now what happens?
(12:14):
God forbid, there's a hurricane.
Speaker 2 (12:17):
You didn't see that coming.
Speaker 1 (12:18):
You didn't see that coming.
So that's where the risk, or wecall it risk management comes
in.
That's where risk managementmeets probability exactly so it
is still a form of gambling, butit's a industrial, uh,
industry-wide, um uh weight ofgambling.
(12:39):
It's, it's been commercializedand businesses do it.
Speaker 2 (12:43):
Everybody goes into the stock market but it's still,
ladies and gentlemen, a form ofgambling and bro, I, I honestly
, uh, truthfully for me I wouldhave a hard time even calling it
low risk in some way, in a lotof ways, because I mean, try
telling that to people in 2008,right, right, but you want to
know something yeah, I was gonnatell you, you know something
(13:05):
that there are structured waysthat the stock market helps um
you know, helps you make moneyAbsolutely.
Speaker 1 (13:11):
And we talk about it all the time going into IULs.
Speaker 2 (13:15):
That's true.
Now we're talking about acertain strategy of leveraging
the market and, you know,gaining on the upside.
But having that, that, thatprotection on the on the floor,
yeah, of course, yeah.
Speaker 1 (13:26):
But again, it's still a form of gambling.
Believe it or not, it's a formof gambling, but it's a lower
risk Right.
Your risk management at thatpoint is very detailed.
Speaker 2 (13:37):
Yeah, now, if you're talking about that technique,
right.
Speaker 1 (13:40):
It's very structured and it's a low risk?
Speaker 2 (13:44):
Yeah, because with an IUL financial instrument,
you're going to benefit when themarket goes up, but if the
market goes down, your floor iszero and you don't lose.
So yes, that is a verystrategic way of leveraging the
market and still getting whatyou want exactly so kind of you
know over time, you'll, you'll,you'll, the money will compound
right exactly, exactly sothere's.
Speaker 1 (14:05):
so there's a structured way of gambling, and
that's why a lot of people getinto it, but at the end of the
day guess what?
You're still gambling.
You're still gambling.
That's true.
Speaker 2 (14:13):
That's true.
And even though the market hasdone an average of like 6% over
the last 30 or 40 years ifyou're talking about the.
S&p or whatever, but I meanstill and let me explain.
Speaker 1 (14:24):
How does that make sense, or how do people feel
about that makes sense, or howdo people feel about that?
Uh, so let's say with the stockmarket, they say if you're in
it for the long term.
Don't watch it right, becausethe stock market goes up and
down, so if you're sitting thereand you're watching the market
goes up and down.
It's gonna it's gonna drive youcrazy, just like any other
(14:44):
gambler right we're saying don'tlet your emotions expend your
money exactly, exactly.
So Emotions will kick in, right.
So think about that.
So if you're going into thestock market depending on the
structure way or the industrystructure that is made to go
into the stock market, which isa lower risk of you losing your
money, then it's fine.
(15:05):
But if it's a higher risk whereyou're just buying let's say
you're buying options, rightright, that's definitely a
higher risk.
Yeah, that's a higher risk.
Speaker 2 (15:09):
Where you're just buying, let's say you're buying
options, right right, that'sdefinitely a higher risk.
Yeah, that's a good point youbring up, mike, because if
you're buying into, like indexesor very conservative funds, and
yeah, that can definitely beconsidered a much lower risk way
of getting into the market,right right, and how volatile
your money may or may not beExactly so I could definitely
(15:30):
see that Like.
Speaker 1 (15:31):
Bitcoin, even crypto Crypto.
It's a high risk way ofgambling.
I hope you're not emotional.
Speaker 2 (15:38):
Because that's a rollercoaster ride.
Speaker 1 (15:39):
It's a rollercoaster ride Again it's another form of
gambling and some otherhonorable mention, like horse
racing, sport betting.
Sport betting has grown so bignow.
A lot of states are legalizingsports betting.
And then you have it.
(16:00):
It's on apps.
You have apps now that you cangamble.
You can pretty much gambleanything these days on app, and
that's why we're talking aboutthis.
It's so accessible, right, soaccessible.
You can pretty much gambleanything these days on that.
And that's why we're talkingabout this, because, at the end,
of the day.
Speaker 2 (16:13):
It's so accessible, right, so accessible.
Speaker 1 (16:14):
And at the end of the day the money's coming straight
out of your account Because youworked as a wealthy and you
worked hard to get this money.
You worked hard to put themoney in the bank.
You have savings and prettymuch when you start putting it
in these different type ofbranches of gambling, you know
(16:35):
you have that risk of losingwhat you worked so hard to put
in.
That's true man.
So you really really have tohave the right mindset and the
understanding of okay, I'm goingto do this or I'm not going to
do this.
I'm going to use this, I'm notgonna do this, I'm gonna use
this, I'm not gonna use this.
Speaker 2 (16:52):
So you know your limits, you know and and no one,
we're not a pro you know we seethese?
I mean, come on, we see socialmedia, these, these, these
famous sports bettors, right,but in reality it's like those
are the michael jordans ofbetting.
Really, if we look, take a deeplook into it, yeah, they're
making millions of dollarsbetting.
You know.
They're not talking about thehours and hours that they spent
(17:15):
day and night looking at thelogistics to make these educated
decisions.
They're studying this stuff dayand night and it's being
portrayed as if somebody canjust pick up and go in and do
what they're doing, and that'snot reality and it's not.
Speaker 1 (17:30):
If I mean, some people actually went to vegas,
to live in vegas because of ofthat lottery or or winning
mindset that they have that theycould hit it big because
they're.
They're in that environment and, and I'm pretty sure, gambling
anonymous is very huge in.
(17:51):
Vegas and you know, definitely.
If you know somebody who hasthat problem, that addiction,
please get them help.
Speaker 2 (18:00):
There are help for people out there.
Speaker 1 (18:03):
And you know and again, we're just bringing you
the information I mean there areresources to go out there to go
look for those help, but, um,at the end of the day, it we
just want to let you know it isa form of gambling and and you
are losing finance and financeand if it gets to an addiction
(18:25):
and it's finance that you needfor you to live, you're not
going to be able to live and doall the stuff that we talk about
on this podcast that you needfor you to live.
You're not going to be able tolive and do all the stuff that
we talk about on this podcastthat you could be doing with
your money in order to grow youknow, so, and somebody might say
, oh, gambling could be alsoconsidered buying a house.
It's a gamble, but it's notgambling.
(18:47):
There's a it's a gamble, isthat?
Because now you're trading yourcash for an asset?
Speaker 2 (18:54):
something tangible, it's something tangible, so hold
on to.
Speaker 1 (18:57):
So if you have something, 10, it's not gambling
, because you have something ofvalue, yeah, yeah, so you can't
call that gamble don't?
Speaker 2 (19:05):
I mean getting in your car and driving down the
street could be a gamble,exactly, exactly, especially if
you and I don't want to saywhere, but in some inner cities.
You know what I mean?
Yeah, you know, we know that,being in california.
Speaker 1 (19:18):
So, yeah, so so you got to be mindful of of the type
of gambling and and all thedifferent type of gamblings out
there and you know we're notsaying for you not to gamble
again.
It's having a good time.
Speaker 2 (19:31):
Yeah, yeah, have a good time.
Yeah, have a good time.
Speaker 1 (19:33):
Have a great time, but know that this is the money
that you're going to use.
We all use it in different ways.
Some people have exotic tripsand vacations.
Speaker 2 (19:41):
Let's just do it responsibly.
Speaker 1 (19:43):
Right, but some people will take that same money
, go on an exotic trip, they'llgo to the casino and then
they'll have a good time.
That's a good time for them.
Speaker 2 (19:52):
And they might not do it again for years.
Speaker 1 (19:54):
Yeah, exactly, and if they win, oh my God, it's a
plus.
Speaker 2 (19:58):
It's a plus yeah, it's a plus.
And they're ecstatic.
And then guess what they doWalk away, walk away.
Are you kidding me?
I'm up $200.
Speaker 1 (20:13):
I'm out of here, so yeah, so we just wanted to bring
FBN, wanted to bring this tothe platform.
We wanted to make sure that ourwealthians understand.
We know you're out there, weknow it's in front of you.
If you're not recognizing that,this is what it is, it is what
it is.
I mean, the biggest takeaway isgoing to be to make sure you
(20:33):
use what you can lose.
And that brings us right intothe literal Right into the
breakdown, the breakdown theliteral, the mental and the
spiritual.
So the literal would be don'tgamble money you don't have
Period.
Period If you don't have themoney.
Tangible currency don't gambleit, that's, that's pretty
(20:56):
straightforward, because if thatmoney is for rent, this money
is for the food.
That money, it's not money.
You have to gamble yeah, man, Ihave.
Speaker 2 (21:07):
I have another shirt, man, I'm sorry, I have to say
it bro I gotta say it, becauseif I don't say it I'm going to
forget, I'm going to be mad atmyself.
All right, go ahead, give it tome.
It's gambling where riskmanagement meets probability,
okay.
Speaker 1 (21:21):
That's a real technical t-shirt there.
Speaker 2 (21:24):
I just wanted to get it out.
Speaker 1 (21:25):
All right, it's out Now I know, it's all been
recorded.
Speaker 2 (21:27):
All right, it's out.
Go on, mike, go on, go on Go on.
Speaker 1 (21:30):
So now the mental the mental is make a conscious
decision to only gamble what youcould afford to lose.
Yes, absolutely, becausementally, if you're gambling,
like you said from the literal,don't gamble what money you
don't have, yeah, yeah, themental would be okay I have this
(21:51):
money to gamble, but can Iafford to lose this money?
Man, I didn't catch that, yeahI have this money to gamble, but
can I afford to lose this money.
Speaker 2 (22:03):
There's a difference, there is a, there's a very,
very there.
There is a very concise shiftin that statement.
Exactly so you've got to make aconscious decision.
Speaker 1 (22:13):
If you choose to go to gamble, if you could afford
to lose this money and this isagain, this is at all levels,
you know we could have ourwealthy ends in Vegas.
It's easy access Pretty much7-Elevens gas station, any way
you you walk, you could put adollar.
Well, I was going to say put aquarter in a slot machine, then
(22:35):
that's aging me, you can slide adollar.
They don't have those anymorethey do have penny machines and
quarter machines maybe they gotthem.
Speaker 2 (22:49):
They want to do like antique shows.
Speaker 1 (22:52):
Right, but you really you're not really getting any
money if you're winning fromthem because you're only betting
a quarter or a penny, but Imean, so they put dollars in.
Yeah, so now the machines takedollars.
Speaker 2 (23:05):
You can swipe your credit cards.
Speaker 1 (23:06):
But in Vegas they have them all over, all over,
everywhere yougas, they havethem all over, all over,
everywhere you go, they havethem.
So, again, you have to makethat content, you have to
mentally make that consciousdecision yeah if you're willing
to lose that money, that you'rewilling to gamble.
I like it, brother.
Okay, it's real.
And then you know what it jumpsjumps into the spiritual
(23:29):
brother, you know it, man.
Speaker 2 (23:30):
So the spiritual here is trust your instincts.
You know, we got to give themthe champ legacy.
If you think you are doing toomuch, guess what you are, you
are and walk away.
Exactly, believe in your spirit.
Believe in your spirit that youneed to step away, and then do
that there you go.
That's it.
There you go.
Speaker 1 (23:52):
I ain't feeling this no more yeah right, believe it
in your spirit.
It's, it's in spiritual yourspirit.
Yeah, believe in your spirittrust it.
Speaker 2 (24:00):
Trust it, man.
And you know, I mean the times,the the times in our life when
we said out loud, man, I think Imight be doing too much.
Didn't we already know that wewere?
Rather you working too muchrather the family stress or the
career stress or whatever it is,you just sit there and you
think.
The only time you think toyourself I think I might be
(24:23):
doing too much is when you aredoing too much.
Speaker 1 (24:25):
That's it, and it's cutting drunk and you know it,
you know it.
Speaker 2 (24:31):
You have that feeling .
Why you?
Speaker 1 (24:33):
said it out loud, exactly, you know it.
You have that feeling thatyou're doing too much, and then,
if you push yourself over, overthat, that's when it starts to
become.
You're not, you may not beaddictive yet, addictive yet,
but you're doing too much.
You're doing too much.
You know you're doing too muchwhen you yet, but you're doing
too much, you're doing too, much.
You know you're doing too much.
(24:53):
When you recognize that you'redoing too much, you know, just
just have that, hey.
I mean, I know some people arebelievers in god or believers in
the universe.
They pray to the universe orpray to god or pray to whoever
pray to, to Buddha, do whateverworks for you.
Speaker 2 (25:10):
Whatever works for you.
Speaker 1 (25:11):
Whatever is going to make you walk away to say a
prayer or just to say it outloud oh, I need to walk away, I
need to walk.
Speaker 2 (25:21):
Let that move you, let that spiritual force move
you to walk away, take time out,put yourself on time out, count
to 10.
Take a deep breath.
Whatever you got to do.
Speaker 1 (25:29):
Whatever you got to do, wealthy, because that's
what's going to help you.
Again, at the end of the day,you worked hard for that money,
or however you received thatmoney, you could be doing a lot
more with that money.
Even if you were given thatmoney a lot more, you could be
helping a lot more people.
Hey, do that, then your heartwill be fulfilled.
You're not gambling your way,you're helping somebody with the
(25:50):
money and, again, like I said,wow, gambling on people, exactly
.
Speaker 2 (25:55):
Wow.
Speaker 1 (26:00):
Exactly, that's a whole nother level right there.
Hey, help some people out, takethat money you were going to
gamble.
Help some people out with thatmoney and see how you get that
three times or four times full.
Yeah, why not take that gamble?
Speaker 2 (26:10):
How about that I?
Speaker 1 (26:12):
like that.
Speaker 2 (26:13):
I love it, mike.
Invest in people, which we Imean a lot of us we do that.
We invest with our time or weinvest money, whatever it might
be.
Speaker 1 (26:21):
Exactly, exactly and, like I said, you never know.
You might get that three timesfour man and it's probably going
to help your spirit.
Speaker 2 (26:31):
That's what's up.
I like it, brother, so we.
That leaves us with the t-shirt.
Speaker 1 (26:33):
With the t-shirt, yeah, we're wrapping up, so the
t-shirt would be know when tohold them and know when to walk
away.
Yeah, it's a little bit fromthe song, but it's not the song
yeah but definitely if I had at-shirt that says no one to hold
them, no one to walk away, Iprobably would wear that in
Vegas.
See, I like going to Vegasbecause there's a lot of
(26:56):
conventions.
Speaker 2 (26:58):
I go to certain conventions.
You never put a dollar in theslot machine ever.
Oh, of course.
Speaker 1 (27:02):
It's money I can lose Okay.
Hey, listen, you don't see Idon't come back from Vegas and
say yo, yo, anton, can you giveme $100?
Speaker 2 (27:16):
for the week that go back to our season one.
Right there, can I get a littlesomething?
Speaker 1 (27:22):
Something something.
Speaker 2 (27:24):
Yeah, you never do that, that's for sure.
Mike, listen, I know.
Speaker 1 (27:27):
I love Vegas, I'm not going to lie.
I love Vegas for the lights.
I love it, not gonna lie.
I love Vegas for the lights, Ilove it for the colors, I love
it for the entertainment andeverything.
And obviously you know I don'tmind the gambling, but I know
myself and I know what I canlose and so whenever I go and I
definitely know when to walkaway yeah, if I'm up double or
(27:51):
triple deuces.
Speaker 2 (27:53):
I am out.
Speaker 1 (27:56):
And I want to stay because the attraction is there?
Speaker 2 (27:59):
Yeah, yeah, I want to stay, but I like when I go home
or if that little gambling playpaid for the trip.
Speaker 1 (28:05):
Hallelujah, oh nice.
I was like I got a free trip.
If that little gambling playpaid for the trip.
Hallelujahs, oh nice.
Speaker 2 (28:13):
I was like I got a free trip.
This was free 99.
Speaker 1 (28:18):
Free 99.
For free, I'm like for free,For free.
Speaker 3 (28:23):
So I definitely yeah, I definitely enjoy it.
Speaker 1 (28:27):
You know for what it is, yeah, but you know, not
everybody has that restraint,that's true, and not everybody
has, you know, that mindset andthat's why we're here bringing
it to you at Finance Bros.
Speaker 2 (28:40):
Network.
Speaker 1 (28:41):
To let you guys know we are here for you.
We will always.
Anything about finance, we'lllet you know.
Speaker 2 (28:50):
To help you out.
We'll always be cool to talkabout it.
Whatever it is, we'll talkabout it.
And if people are, mike,obviously, if people are sending
us material that they want tohear about DMing us, sending us
messages, emails, whatever wewill be encouraged to talk about
it.
We will make sure we will makeit our business to talk about it
.
There you go, Because we wantto put it out there.
(29:11):
That's it, yeah, mike.
So, uh, man, we we wrapping itup, like we said, we getting
them to work, and that's it.
That's it.
Uh man, we got three episodesleft for the season.
You guys, with our wealthy endshere every week, mike, you know,
always, of course.
Don't forget to check us out onall your social media podcast
(29:32):
platforms Apple Podcasts,iheartradio, spotify, google
Podcasts.
It might be up down left, right, depends on which social media
platform you might be watchingon, but don't forget to come
check us out.
And also, don't forget to comecheck us out anytime or night,
24 7, on our home at hhn tv.
(29:53):
And, as usual, mike, Iappreciate you, that's right,
and we'll see you at the bank.
Peace y'all, take care world.
Speaker 3 (30:08):
Thank you.
I know you love me.
(30:38):
I know you love me, you'reeverywhere.
You say you're all I need.
(31:00):
You're everywhere.
I know you love me.
I know you love me, you'reeverywhere, thank you.
(31:48):
Thank you for watching.
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