January 25, 2024 • 41 mins
When the camaraderie of military service meets the acumen of financial mastery, you find individuals like Manathis Rich, an Hawaiian native and financial entrepreneur, who transformed his disciplined background into a beacon of fiscal guidance. We were first introduced by chance in Dallas, and in this episode, he unveils the narrative arc from his father's Vietnam War service to his own Air Force journey through Europe, and how these experiences have shaped his approach in the civilian world. Tapping into military virtues, Manathis illuminates the path for others seeking to navigate the financial landscape with the same precision and camaraderie that defined his service years.
Embark on a mission through the realms of financial literacy, discovering how the right knowledge can arm you for a prosperous future. We delve into various savings and investment strategies, highlighting a particularly advantageous tool offering tax-free benefits, and dissect the implications of employer-matched contributions in retirement plans. Then, brace yourself as we confront the silent adversary of inflation, understanding how it eats away at our purchasing power and the essential tactics for managing cash flow to keep your finances advancing. In a world where traditional wisdom often goes unchallenged, Manathis joins us to advocate for a tactical reevaluation of your financial strategies, ensuring you're well-equipped to march towards wealth and a fulfilling lifestyle.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Charlie Shaw (00:02):
Hello all, allow me to introduce myself.
I'm Charlie Shaw, the host ofthe Little Mel Unfiltered
Podcast Show, and today's guestis Manathis Rich.
Manathas Rich is anentrepreneur in the financial
field.
He has his own business, whichis Mana Rich Global, and he
works with Finfit Life, wheretheir mission statement is
(00:25):
health, wealth and lifestyle toenjoy.
Welcome, how are you today, sir?
Manathis Rich (00:32):
Doing well.
Thank you for having me.
Charlie Shaw (00:34):
Alright, I also want to tell you folks this
brother is from Hawaii.
What island, which island, sir?
Manathis Rich (00:44):
From the island of Oahu.
Oahu, yeah.
Charlie Shaw (00:50):
Now, you're born and raised there.
Manathis Rich (00:53):
I actually was raised there, got there at the
age of two and so had theprivilege and pleasure of
spending most of my childhoodthere.
Charlie Shaw (01:05):
There you go there you go and then you went on
from there.
Well, let me tell you, folks, Imet Mr Rich.
I went out to Dallas and he wasthere for a convention and I
was there for the Green BayPackers win against the Dallas
Cowboys and just kind ofgravitated towards one another.
(01:26):
He's gonna tell you one story,I'm gonna tell you another.
I just said hello.
He's gonna tell you I woke upthe whole airport with my voice.
Anyway, I'm glad that we areable to make our acquaintances
with one another.
So tell me a little bit aboutyourself.
Manathis Rich (01:46):
Well, first of all, it was truly a pleasure
meeting you out in Dallas.
That was so kind of hilarious.
Well, I was.
You know my father was military, my mother was a nurse and you
know I don't have the typicalmilitary childhood growing up.
You know where people had tomove all the time.
I've moved only basically threetimes with my father.
(02:10):
So I was born in Topeka, kansas.
At the age of two Dad gotstationed in Hawaii, schofield
Barracks, and so we went toHawaii and what was so
interesting, as you know, in theearly 60s of the Vietnam War
was going on.
So dad got tapped to go toVietnam in 1966 with the
(02:35):
Wolfhounds out of the 25thInfantry Division at Schofield
Barracks.
So, needless to say, wecouldn't go with him there.
So we bought a home.
Dad bought a home in in 65 inWahiwa, hawaii, right in the
middle of the island, and whilehe went to Vietnam, mom and dad
because mom was a nurse and hadshift work we had a longtime
(03:01):
family friend.
Their daughter was sent to staywith us so that my sister and I
could have somebody to watch usafter school while mom went to
work.
So she came out.
She was actually a eighth grade.
She was in the eighth grade atthe time, so she was old enough
(03:22):
to make sure we were taken careof, but yet young enough to not
affect you know, her high schoolyears, if you will.
Charlie Shaw (03:29):
So basically, she was a big sister to you and your
brother, right.
Manathis Rich (03:34):
Me and my sister.
Your sister, I'm sorry.
I thought you told me one timeyou had a brother, but it was a
friend that you that was closeto you when you were growing up.
Yes, actually he was.
Yeah, he was like my brother,but I do happen to have two
brothers.
But anyway, back to in the 60sthough, I have my sister and I,
(03:55):
and I think my sister at thetime was I think she was two and
I believe I was six when dadwent to Vietnam.
So anyway, we had had thefamily friend come and stay with
us.
And then dad got back fromVietnam in 67 and I guess, for
(04:16):
for having that hardship duty,he had a choice that if he took
the next assignment he have achoice of where he went to after
that.
Okay, so he got sent to Alaska,which we had a great time.
We were in Alaska, fortRichardson, right there in
Anchorage area, and then 1970,of course the choice was to go
(04:39):
back to Hawaii, to the home thatthey bought in 65, and never
traveled again with that.
So that was my, that was mymilitary experience.
Charlie Shaw (04:48):
Well, when you became an adult you did a little
bit of traveling, becauseyou're over here in.
Orlando now, but on yourjourney to Orlando?
Where was where you land?
Manathis Rich (05:00):
Well, that's a different story.
So when I went to Alaska, youknow, I had started school with
several friends in Hawaii.
When we got back to Hawaii Icaught up with all of them and
we graduated together in 1978.
And then in 1978, I raised myhand and volunteered and went in
the United States Air Forcewhere I spent the next nine
(05:23):
years plus of my life and spenteight of those years over in
Europe, specifically Germany andItaly.
Charlie Shaw (05:31):
So and you know the reason why I asked you that
is because that's kind of likewhere we gravitate one another
when we are having our havingour conversation on in the
airport terminal.
I realized that you were a vetand I'm a vet and you know we
just naturally gravitate towardseach other.
Absolutely.
You know, because I actuallywas on station of station over
in Italy with Navy back in the90s and I was like it was pretty
(05:56):
cool just to hear somebody elsehave that same experience.
Manathis Rich (05:59):
Yes, yes, I was up in Aviano Air Base in north
northeast corner of Italy.
Yeah.
Charlie Shaw (06:08):
Took a train up there from Naples.
We did did some travelingfamily and I back then, but I
was actually stationed over inLaMona, lena, sardinia.
Manathis Rich (06:17):
Oh yeah, yeah, we're familiar Right.
Charlie Shaw (06:22):
Small worlds man, it is.
Oh, so what got you into thefinancial field?
Manathis Rich (06:29):
Oh man, I was.
I was a floundering, young,young man coming out of the Air
Force and a lot of times, youknow, having coming out of the
service and not necessarilyknowing exactly what you want to
do with life, I happened to bekind of trying to find my way,
gotten to car sales and a fewother things, and what ended up
(06:54):
happening?
There was a gentleman by thename of Roy Ogasawara who was a
retired green beret from theArmy Right, and he was a, he was
a force to reckon with, workingwith New York Life and downtown
Honolulu, okay.
And so evidently I couldn'teven begin to tell you exactly
(07:17):
where he saw me, but we were.
We ran into each othersomewhere in downtown Honolulu
and there was evidentlysomething that sparked an
interest of hey, maybe thismight be something I might be
interested in.
So we talked back and forth,had a few interviews, took some
(07:38):
personality tests and all ofthose wonderful things that they
used to do back in the day tosee if you could be a fit.
They still do it.
And yeah, yeah, and I have noidea to this day what that
looked like, anyway.
So, anyway, I went in and hetapped me and said, yeah, we'd
(07:59):
like to go ahead and start youin our training program, and New
York Life happens to have oneof the finest insurance training
programs in the industry.
Right, and so I went ahead on.
I was enrolled.
I took a three day class on howto take the state exam for the
state of Hawaii and pass thefirst time.
(08:21):
I'm sitting next to people whohad gone in and taken the test
four, five and six times Goahead and pass it.
Charlie Shaw (08:28):
Go ahead and teach your honor for them.
Manathis Rich (08:30):
Well, you know, just, I was fortunate I took
that class versus because theywere self studying and you know,
with the, with the rules andregulations and things like that
, it's a lot, it's a lot to know, but I was able to get through
that.
But then I quickly found out,probably after about six months
(08:52):
or seven months or so, that thiswas, this was not going to be a
cakewalk and, and, of course,mr Ogasawara being the
respectful gentleman that he was, after about 12 months or so he
goes.
I don't think this is quite foryou right now.
So, and and it wasn't at thetime because I just was not
(09:16):
settled you know, you need tohave some stability.
It's commissioned pretty much,you get a stipend, but that's
about it for a certain period oftime.
If you're not, you know,feeding the pipeline of
prospects and clients, it couldbe a really, really tough road,
right?
Charlie Shaw (09:35):
I've been told that.
I've been told that sales isyou got to respect folks that's
in sales because they'regrinding hard and that game.
Manathis Rich (09:43):
Yeah, and here's the thing we're in a very unique
field when it comes down tofinance, because it's we're not.
You know, our system, ourschool system is not necessarily
gear Toward the education ofthe youth of this country to be
educated in finance and how tohandle your personal money and
(10:07):
things like that.
And not that I've always doneit well Right, I've done better
sometimes than others but butsome of the stuff that you could
learn that could keep you outof major situations, we're not
taught that stuff.
Charlie Shaw (10:20):
You know.
To be honest with you, I reallydidn't know about.
You know all the different waysof making.
You know letting your moneywork for you.
I was taught put money away forrainy day or put a little bit
of your on your savings accountor you got a loan, paid more on
the loan.
I never really was taught aboutthe stocks or what I would.
(10:44):
The retirement plan that I hadwas you know, I wasn't taught by
that.
I wasn't taught like that, andI wish I would have would have
been great.
Oh, yeah, had that had thatknowledge as a young man, I
would have actually put moremoney away when I was 18.
Manathis Rich (11:01):
You know better financial understanding.
Charlie Shaw (11:03):
But you know, as you know, as you meet people and
you listen to, you know, keepyour ears open, you might learn
something.
And I just learned a little bit.
Learn a little bit where I canretire now.
Manathis Rich (11:12):
But that was about it, yeah, and here's the
thing we're we're not taught,we're not taught how to keep
more of our money, where we'retaught to put our money in
places, to defer it, to pay itout later, right, Right, and we,
yeah, and when you pay thatmoney out later, it's not
(11:34):
necessarily all to yourself,because you got a silent partner
named Uncle Sam.
Charlie Shaw (11:39):
I was.
I was going to let you, let metell you, tell him who it was.
Uncle Sam.
He is our silent partner.
Well, we like partners, but wedon't like partners.
It's going to take 20, 25% fromyou.
Manathis Rich (11:53):
Well, we would like to know that we have a
partner Right.
Charlie Shaw (11:57):
Well, you know what?
And Uncle Sam's defense?
I like the roles that we rideon and the infrastructure.
Manathis Rich (12:04):
Yeah.
Charlie Shaw (12:05):
But I want some of it back.
Manathis Rich (12:07):
Yeah Well, it would be nice if some of that
money that you paid Uncle Samdid pay for the roads.
But that's all appropriatedstuff and so therefore it has
nothing to do with what's takenfrom you.
Charlie Shaw (12:17):
Right.
So, segueing into that, do youhave any ideals, or that?
You well, I know that you'regoing to have you're going to
have some financial planningthat we're going to discuss
later on.
Okay, and you, basically, thisshow is the buildup for those
shows that I would like topartner with you on.
Manathis Rich (12:36):
Oh, okay.
Charlie Shaw (12:37):
Well, that's a month and how you feel about
that.
Okay, great.
Manathis Rich (12:39):
You know, yes, I feel good about that.
I think it would be greatbecause, once again, simply
stated but can be complicated inimplication, you know, in
implementation.
Charlie Shaw (12:54):
So you hold seminars and workshops and this
feel too right.
Manathis Rich (13:00):
I do, I actually have.
I have a weekly zoom that I do.
That's by by invitation andmust register to to participate,
and that's only so that we canknow who has showed up and who
we could follow up with andthings like that.
(13:20):
But I do do that once a weekand and then I also if people
require, If people request,right, they would like to have
some more information, I canschedule that as well or put
them on my calendar and I can doone on one at their, at their
leisure, Okay.
Charlie Shaw (13:40):
Let's go back to what we were discussing before.
Where do you, where we discussthat we're not teaching our the
youth about financialresponsibility?
But that was a youth you weretalking about.
What about folks in there justjust getting started in their
careers?
Manathis Rich (13:58):
Yes, yeah, that's a big deal, because I mean, you
think about it.
Let's say you graduated fromhigh school.
You got your first second job,maybe, or you're, you're going,
you know, you're getting finallygetting that.
You've graduated from college,maybe, or you found a profession
that you really like, um you,it's so important to be able to
(14:18):
know where you can park yourmoney.
That's going to be in your bestinterest, and there's so many
misconceptions of what it'spossible.
So I went to a high schoolrecently here in Orlando,
florida, where I'm currentlyresiding, and had an audience of
about 35 students, fromfreshmen to seniors and and
(14:44):
nothing but positive reviewsafter we were done, just
teaching them a few concepts ofhow money works.
Charlie Shaw (14:52):
Are you on Liberty's?
Manathis Rich (14:54):
Tell me which high school that was, because
I'm yeah, there was Evans HighSchool right here in Pine Hills
Florida and you know what I likethat, evans is?
Charlie Shaw (15:04):
they're not.
They're popular with their,with their Sports, and you're
over there teaching andfinancial literacy man.
I that's awesome, I like that.
Manathis Rich (15:14):
Yes, I'd like to go back to because I've been
there.
I Actually was invited once,was invited back.
It didn't come to fruition forwhatever reason, but but yeah, I
just would love to be able andyou know, it doesn't even have
to be in that setting, it can be, somebody can, if there's
anybody out there that like tothrow a group together and maybe
(15:35):
meet at a library, in a sideroom or whatever.
We don't have to wait.
It doesn't have to be formal.
It could be very informal, butno matter what is, as long as
it's being done, and it could beof all ages, right?
Well, I mean I say all ages.
Charlie Shaw (15:50):
I'll say age of understanding to you know, to 60
, 70, 80 years old right, andyou mentioned that is zoom,
because my audience is prettymuch all over the country, but
so that that's available toanyone you know you can travel
to them, you can also do zoomwith them.
Yeah, one consultations, okay,okay.
Manathis Rich (16:14):
Yes, absolutely.
Charlie Shaw (16:16):
Oh, what different programs would you be talking
about?
Manathis Rich (16:21):
Um, well, I mean like we can talk about basics,
but you know, we could talkabout a number of things, but
one of the things that there's acouple of platforms that a lot
of people are familiar with this401k, 457 plans, 403 B's, TSP's
(16:42):
, iris we can talk about allthose things, but I do not.
I actually do not implementthose things because of the
requirements.
Like I don't get into theinvestment side of things.
I use a Very, very specificplatform that is like a Swiss
army knife that can cover awhole lot of things and and and.
(17:07):
Once you know that, then it's,it's.
At least you can make aninformed decision of hey, do I
want to park money in that,especially when I can access an
income tax free lawfully.
You know things like that right.
Charlie Shaw (17:23):
You want to make a make money, work for you and
make it available to you whenyou want it, not waiting to
liquidity.
Yeah, I wait until you're 59and a half.
Manathis Rich (17:33):
That's right Would it, play with it.
That's exactly right, andthat's that's some of the
limitations that you find withqualified plans, because you got
to remember who makes the rulesof the qualified plans.
The government does, yeah, yes,you know.
So I ask a very simple questionto most people what is that?
(17:53):
And?
And that question is this wouldyou rather be taxed on the seed
or the harvest?
Charlie Shaw (18:01):
I remember this, when we were talking Sorry, and
you would you rather yes.
Well, you tell me what, what,what.
What is the better?
What is what's better for you?
If you, if someone asks youthat question, where, in which
direction would you go?
Manathis Rich (18:16):
Well, how many seeds do I have?
No, just.
Charlie Shaw (18:22):
That's not what you said last time.
Manathis Rich (18:26):
No, well, if you were, if someone handed you ten
apple seeds and you paid the taxon that, we have no idea how
many apples can be be harvestedfrom those 10 trees over time,
right, right?
So obviously the, the thelesser of the tax is going to be
the seeds, because the, becausethe harvest could be so
(18:51):
bountiful that, obviously,whatever taxes would be taken
from that harvest are going toway, way out, way, the 10 seeds
that you pay tax on.
Charlie Shaw (19:00):
So the way I understand this is pay it on the
front end, not the back, sothat you can.
Manathis Rich (19:05):
That's another way of saying it.
Charlie Shaw (19:07):
Yeah, you can reap what you sow without a right
out of your head.
Manathis Rich (19:12):
That's exactly right and that's actually that's
a very well, that's a very putvery well is this, you know?
Because here's the thing whenyou're in a qualified plan, so
let's just say, for kicks andgrins, you're, you're your state
, and you are putting a 5% ofyour paycheck into the qualified
(19:35):
plan that they have set up foryou, and let's just say that the
company matches it and that'swonderful because that's 5% free
money to you, right?
Yes, sir.
And so let's say you do thatfor 40 years and you get down
the road and you're gettingready to now retire.
Okay, now remember, half ofthat money was given to you
(19:59):
freely by the company, right?
Charlie Shaw (20:01):
Yeah.
Manathis Rich (20:02):
But at the end of the day, when you say you have
a $50,000 a year lifestyle andyou have to pull funds from that
qualified plan, well, you'regonna have to pull out Probably
somewhere in the neighborhood of65 to $70,000 To be able to
(20:23):
keep the 50 that you live on.
Okay, so basically, the freemoney that was given to you by
that company really wasn't freeis basically cut.
Yeah, what's this covering thetax?
Right, it wasn't free.
Yeah, okay, and and that and sotherefore, but but it helped
(20:45):
the company Contributing on yourbehalf, because the company
gets certain, you know, certainbenefits from Contributing right
there their tax rate off?
Yeah, exactly and you, youBelieving that, wow, this is
great.
And if you, let's say, you endup in, just for easy numbers,
(21:08):
$100,000 in set account and nowlet's say you're 65, that's fine
.
That money in that account isnow you know, your money to be
able to use for your retirement,but, once again, just depending
(21:29):
on what kind of lifestyleyou've established, because I
know most people when theyretire, they retire on less
money while they're not workingthan they do when they're
working.
Charlie Shaw (21:39):
Yes, that's a fact .
That's a fact.
Manathis Rich (21:42):
You know.
So if you were making $80,000 ayear while you were working and
then, all of a sudden, now youfind yourself retired, well,
there's a pay cut there.
Charlie Shaw (21:52):
Living off 45% of what you were earning yesterday.
Manathis Rich (21:57):
That's right, 45% to 50% of that, and that's why
the retirement, you have theretirement there.
But that's why they say, well,you know, your empty nest, your
kids are gone and your houseshould be paid off.
I mean, but that's all of thatis if everything worked out
perfectly.
Charlie Shaw (22:15):
Absolutely.
That's perfect storm, you know,yeah, my kids are.
Manathis Rich (22:18):
I don't know if anybody's got a perfect storm.
No, no.
Charlie Shaw (22:23):
I had to drive those cash cars.
Watch what I bought.
You know I didn't want mydaughters, you know, worrying
about school and all that.
You know things.
Hey, man, that's life,everybody.
I was able to put a little bitaway, but you're right, they're
going to take whatever you havein there.
They're going to take 20, 25%when you're ready to cash out.
Manathis Rich (22:43):
At least and think about it.
If you're a high net earner, ifyou're a high net worth earner,
oh, man.
Man, you think they're doinggreat right Doctors, lawyers and
all that stuff.
Man, if they're not carefulthey get eat up.
Charlie Shaw (23:00):
That's 35% if you fall in those in that high, high
tax break.
High, that's exactly right, andI don't know numbers, I'm just
throwing it out there, but youknow, oh no, yeah, it could be
anywhere from 26 to 30, 36%,just depends.
Manathis Rich (23:15):
And then we got to take a look at OK, is that
just federal?
Yeah, then we start taking alook at what about states?
What about the states that haveinteresting tax brackets?
Charlie Shaw (23:25):
You know, I think that's why a lot of people land
in Florida, Texas, Tennessee.
Let me see the other ones.
Maybe Washington state is that.
Manathis Rich (23:33):
The Washington state, Nevada, Arizona, Nevada
and AC and, I believe I think,Montana.
Montana is the government yeah,I think that's another one, so
I don't know all of those.
But what I would say, though,is, between the Fed, the state,
the sales and any other fees andthings that you might be paying
(23:54):
, every single bit of thatcounts and takes away from your
network.
Charlie Shaw (24:00):
Yeah, you really do have the plan.
I've always had conversationswith my guys when I said, hey,
listen, man you guys need to goto retirement seminar 10th year
fifth year and then every otheryear until you decide that
you're leaving because thingschange and I live by that.
(24:21):
And I'm not going to say I wasperfect with my money.
I'm not going to say that I wasalways listening and paying
attention or I was alwaysphysically responsible with my
funds, because things come upand I'm not saying that I just
blew any Things come up whereyou can't put away.
Early on I didn't put away alot of money, but as my
(24:42):
responsibilities decreasemeaning raise in the family I
was able to sock away a littlebit more.
Was it hard at first?
Yes, because it was alldisciplined.
It was disciplined Right.
It's a habit.
Right, it was a habit that youhad to create and you know as
well as I do habits are createdover time.
That's correct.
(25:03):
That's exactly right.
And even now, as retired, I'mstill watching my ends, making
sure that I'm not overspending,because I don't have that 100%
coming in anymore.
Manathis Rich (25:14):
That's right.
That's right, and that's why alot of people have a hard time.
That's why you find a lot ofour older population is having
to work, because you have to.
Also, the other thing that wegot to take a look at, and this
is the silent tax, which is theinflation tax.
Yes, I mean the cost of goodsand services.
Those dollars that you used tobe able to do 10 years ago do
(25:37):
not do the same thing today.
Charlie Shaw (25:39):
Well, as Fed Joe said and this is a guy, a rapper
he said those are yesterdayprices, these are today prices.
Manathis Rich (25:48):
That's exactly right, right.
A dollar, a dollar you knowjust even four years ago, does
not do today what it did fouryears ago.
Charlie Shaw (25:57):
Yeah, I was looking at the price of my GMC
pickup truck, for example.
Right, that thing rolls upalmost eight grand in four years
.
Manathis Rich (26:07):
I was like get out of here.
That's the same truck.
Charlie Shaw (26:09):
I sat in it and I was like this is the same truck,
Are you kidding?
Manathis Rich (26:13):
me.
Charlie Shaw (26:13):
Yeah, absolutely, you got the nerd to put almost
10,000 more on it and then tellme that's a good deal.
I'll keep this until the wheelsfall off.
Manathis Rich (26:24):
Yeah, you'll keep it until the wheels fall off,
oh, keep it until the wheelsfall off.
But you know, isn't itinteresting?
Right now you can go with Chevytrucks back, you know, way back
in the day.
You know four $5,000, $5,000,$6,000 for a truck.
Right Now you get a GMC or aChevy pickup or something like
(26:49):
that and you're spending $60,000, $70,000, $80,000, $100,000.
Charlie Shaw (26:54):
You know how many grandfathers are rolling over in
a grave man?
We're spending that kind ofmoney, oh man, yeah.
Manathis Rich (27:00):
But you know, what's so interesting about it
is that it takes more of thosedollars to get that vehicle
because of that thing calledinflation.
Now I'm going to share a littlesecret with you in your
audience.
So one of the things thatreally interesting about this
(27:22):
thing called the dollar right,right, the last person holding
the dollar is the biggest loser.
Charlie Shaw (27:31):
Tell me about that .
Manathis Rich (27:34):
Well, if you don't do something with the
dollar?
Charlie Shaw (27:38):
then it's worthless.
So you got to move that thingaround in commerce.
Manathis Rich (27:43):
You have to move it in order for you to feel like
, in order for you to have anyany worth.
Because here's the thingdollars just sitting around do
very little to nothing.
Charlie Shaw (27:56):
You're going against the grain, but you're
going against the grain.
Manathis Rich (27:59):
Well, just a minute ago we were talking about
saving money.
Now you're telling me you wantme to spend it.
Charlie Shaw (28:04):
Come on now.
Don't confuse me in theaudience.
What do?
Manathis Rich (28:07):
we got to do so.
So what that tells you is maybe, just maybe, it might be more
about cash flow than cashholding.
Charlie Shaw (28:17):
Okay, okay.
I don't mind flowing stuff, andof course there's way.
Manathis Rich (28:21):
Yeah, so that so, but the last person holding us.
So what I mean by that is,let's say, obviously, if you're
sitting in your house and youwant it to have some, some milk
and cereal, if you don't havethe dollars to buy the milk and
cereal or trade for the milk andcereal, you may or may not have
milk and cereal.
(28:42):
It might, you might, need to bea gift from somebody.
However, somebody's paying forit, yeah, yeah, so now?
So if you're holding thedollars just to have the dollars
and you're not flowing theminto things that you need to
change, exchange for what youneed in your life, then you
(29:05):
holding the dollars does nothingfor you.
Now, now it does soundcontrarian doesn't it?
It's like oh save money, yeah,but there is a.
There's a purpose for havingthe availability of money to
have more value of the money inwhich you're holding.
And remember the tax, the taxesfor the money you're holding.
(29:30):
That means that the thathundred thousand you were
holding obviously cannot go anddo more of the things that you
would need it to do while you'repaying tax on that money.
That's right, that's right.
So just trying to keep thatclear that, yes, there is a
there's a time that you want tobe able to have access to funds
(29:52):
that are not, that are, that arelittle to little to no tax on
it.
Yes, that's what you want tohave.
You want to have access andbasically cash flowing in the
right places allows you to dothat.
Charlie Shaw (30:05):
And you plan on teaching us that?
Manathis Rich (30:07):
Well, yes, that is what, that's what it is, well
advising us.
It is the plan.
Yeah, that's the plan, becausemy my thing is is I can share
and share, and share, but youhave to really wrap your head
around it and remember.
We've been indoctrinated solong to not look at things
differently.
Charlie Shaw (30:25):
And you know that's a whole another
discussion for another showbecause we, you and I we talked
for about an hour on on thatsubject and I got off the phone
with you and I was like and wedid it, yeah, we, we did a
little show on thinking outsidethe box.
That was basically thinkingoutside the box.
And that's something that wedon't force ourselves to do
(30:46):
because we're so used to thenorm.
This is the way it goes.
You wake up, you do this, youdo that, you do that and then
you retire back to your bed.
Manathis Rich (30:55):
Yeah, yeah, that's right Part of our
conversation, if I'm notmistaken was about thinking
right, free will, yeah, yeah,yeah, yeah, we're not thinking
when we get out of bed, that's.
This is an unnatural movement,right?
That's not thinking Right.
Yeah, right, walk one foot infront of the other?
Charlie Shaw (31:15):
That's not thinking, that's not thinking,
that's just doing it.
There's no complexity there,you know.
You just doing it, it's right.
But like I said, I I thoughtabout what you said and you know
I couldn't argue it at thepoint, because it's it's
something that we're justnormally, that we're just doing
(31:36):
and we need to Right Thinkoutside, sometimes Right,
there's a great book called thethe science of getting rich by
Wallace D Waddles.
Wallace D.
Manathis Rich (31:46):
Waddles, waddles, waddles, waddles.
Yeah, and that that book waswritten back in like 1915
sometime.
And one of the things he talksabout in the book is it says, is
that thinking is the hardestwork you will ever do.
Charlie Shaw (32:03):
You remember when we were sitting there and
somebody thought somebody wasbeing lazy at the airport, when
actually that man was probablyjust thinking about what he's
going to be doing next.
Manathis Rich (32:20):
He was like leave that man alone.
He's thinking, give him time tocollect his thoughts.
That's exactly right.
So I want to share.
I want to share a little quotefrom a Dr Ray Hagan.
Okay, ray Hagan, dr Ray Hagan.
Charlie Shaw (32:42):
Yes.
Manathis Rich (32:43):
And, and one of the things that Dr Ray Hagan
used to do before he would teachany any idea if he'd have.
He'd have his audience, havehis audience repeat this message
and here's what it says thespace inside this circle, you'd
(33:06):
have you put your hands up andput your hands kind of in a
circle, okay.
And he says the space insidethis circle represents my realm
of knowledge.
All that I think I know, aboutwhatever I think I know, is
depicted right here within thecircle.
I must keep in mind that thereis more to know than what is
(33:29):
within the circumference of myawareness.
Charlie Shaw (33:36):
There's so much more outside of circle that we
need to let in.
Manathis Rich (33:42):
Yeah, Dr Ray Hagan.
He was the chief elder of theAfrican village in St Louis,
Missouri, and I used to lovethat and I used it with the kids
at the high school and whatthat does is prepare the mind to
receive information and not getcomplacent thinking you know it
(34:03):
all.
Charlie Shaw (34:04):
Yeah, that's where so many of us fail is when we
think we know it all.
Manathis Rich (34:08):
That's correct.
I've been accused of it.
Charlie Shaw (34:16):
You're in good company.
Manathis Rich (34:19):
That's all I have for you.
Charlie Shaw (34:21):
I'm in good company.
But you know, when you stopthinking like that, you realize
that you have a great mind thatcan absorb so much more, so much
more than what you hadyesterday, so much more
information, and I appreciateyou sharing that quote with us
(34:42):
and I hope that the listenersheard you and held up that
circle, because I had an usual,also of it.
Manathis Rich (34:50):
Yes, and it's really cool because once I got
that it was like oh, wait aminute.
Yeah, I do know a lot of stuff,but now the question becomes is
what you have, are you using it?
Or like what they say you havecommon sense.
Charlie Shaw (35:08):
Are you using it?
Yeah, yeah.
Manathis Rich (35:11):
And what's so interesting is understanding
that everyone and this is a hardone to wrap people's heads
around, but I'll try it rightnow and that is this, and, from
their perspective, is correct.
Charlie Shaw (35:27):
Yeah, I can't argue everyone.
Manathis Rich (35:29):
Yeah, everyone is correct from their perspective.
Charlie Shaw (35:33):
It's sort of like what they.
What I've heard before is we'reall in the same building, but
we got different.
We're looking out differentwindows, we've got different
views of things, so you're neverwrong.
You know what you're looking atmay not be, may not fit the
scenario that you, that you'retrying to, you know, resolve or
solve, but you're never wrongand what you, you know what, how
(35:54):
you view things, is just maybea different way of looking at
that.
Manathis Rich (35:59):
So if that is true, why do we have so many
arguments?
Yeah, and it's because of thelack of acceptance that
everybody can be right fromtheir perspective.
Charlie Shaw (36:18):
I think that's just.
We're not perfect people.
That's the only way I can saythat we have to accept, we have
to be accepting Right and see,here's the thing that's so
interesting.
Manathis Rich (36:32):
but you need to be more receptive to mine than
me of yours.
That's where the argument comesin.
Charlie Shaw (36:38):
Yeah, take my 51%, we'll hold on before you
Because that's the way I see it.
Manathis Rich (36:46):
Oh, you don't agree?
Huh, oh, okay, I don'tunderstand, I just don't get it.
Charlie Shaw (36:55):
You don't see it my way.
Manathis Rich (36:57):
Yeah, you know.
Charlie Shaw (36:59):
You know we disagree to agree on a few
things.
Like I said, that discussion wehad that evening I was like wow
, yeah, I got to go to bed, butI'm not done with him yet, and
you were up for the challenge.
Manathis Rich (37:13):
Yeah, oh yeah.
And here's the thing it's likewe all are.
We're all products of ourexperience right, I mean no
matter what right I mean we hearpeople talk about all the time.
You know my environment, myenvironment, you know Right and
you know just to a certaindegree I agree that yes, it's
(37:36):
your environment, but then atsome point, where does the
environment end, and you takecontrol of what you believe and
that could be anything.
Charlie Shaw (37:45):
now I know some people that could be anything.
Manathis Rich (37:48):
That's exactly right.
Charlie Shaw (37:50):
Where you were raised, who you raised by yes,
what you were exposed to, whatyou were exposed to, why?
I have no idea.
I was raised in Wisconsin,racing in Wisconsin.
You don't know anything?
Oh, I don't know.
You've been to Wisconsin before.
Manathis Rich (38:04):
No, I can't say that I have.
I think I flew throughMilwaukee once, but all I know
is all I know is it's it's it'svery cold in the world.
Charlie Shaw (38:18):
It all depends on if you're dressing warm, you
know.
So people that dress warm, hey,it's not that cold to me,
that's right.
Manathis Rich (38:27):
You know I do like your hair.
But yeah, all things equal.
It has some low temperatures.
Charlie Shaw (38:34):
Yeah, and Hawaii.
Some people may think thatthat's too humid or, you know,
that's just too hot for me, youknow you never know, it's just
how.
What were you exposed to?
And yeah, set set your frameline, so sometimes we got to
give people a chance and justhear them out.
Manathis Rich (38:53):
Yes, absolutely, and and even even be able to
have the ability to recognizewhere they're coming from,
rather than making a judgmentthat they're there, you know.
You know, because a lot of usjump to judgment that they're
even there and totallydismissing why they could be
(39:15):
there.
Charlie Shaw (39:16):
Yeah, Well, I'm going to wrap up the show on
that note and we can pick backup on that.
But in the meanwhile, could youcome up with a few topics for
us to discuss?
I don't know if you want to gomonthly.
I'm more than happy to do thatwith you, if you want to go
quarterly.
I just want you to educate the.
(39:37):
Educate my people as well asmyself, and I'm not saying that
they don't know about financialliteracy, but I want to learn
more.
Manathis Rich (39:44):
And if I'm all right more.
Charlie Shaw (39:45):
I'm sure that there's a few people that would
also.
Manathis Rich (39:48):
That's awesome and I you know what I figure,
the more the merrier versus youknow, you know, because you just
never know when, when peoplemay be in that spot to where
they need to know something thatthey might have been growing,
they might have been grapplingwith.
Right is like, hey, I'm, I'mjust starting my career, was I
(40:08):
want to start sooner than later,than there's those that are on
their way to retirement and andconfused by that whole process,
right, what is that going tolook like?
And here's what I would sayObviously, time is is the
commodity you never get back.
(40:29):
Yes, so because you never getthat back, the sooner and the
more often that we can do thatis going to be in our best
interest.
So I I look at it from thestandpoint of more often is
going to be better than lessoften.
So I'd be more than happy tocome back on a quarterly I mean,
(40:49):
excuse me, on a monthly basis.
Absolutely Appreciate that,appreciate that very much, larry
.
Charlie Shaw (40:54):
Sir, I appreciate you and all you know.
We're gonna have our you knowour conversations offline and
bring it back online.
Believe me, folks, we do getalong.
Manathis Rich (41:04):
Yes, we do very well.
Charlie Shaw (41:06):
And I like the fact that we can agree to
disagree, because both of us arelearning.
That way, you're learning thatway.
Manathis Rich (41:12):
Yeah, absolutely, I agree.
Charlie Shaw (41:14):
Alright, folks, until next time Take care and
stay safe.
Aloha everybody.
Hello all, allow me to introduce myself.
I'm Charlie Shaw, the host ofthe Little Mel Unfiltered
Podcast Show, and today's guestis Manathis Rich.
Manathas Rich is anentrepreneur in the financial
field.
He has his own business, whichis Mana Rich Global, and he
works with Finfit Life, wheretheir mission statement is
(00:25):
health, wealth and lifestyle toenjoy.
Welcome, how are you today, sir?
Manathis Rich (00:32):
Doing well.
Thank you for having me.
Charlie Shaw (00:34):
Alright, I also want to tell you folks this
brother is from Hawaii.
What island, which island, sir?
Manathis Rich (00:44):
From the island of Oahu.
Oahu, yeah.
Charlie Shaw (00:50):
Now, you're born and raised there.
Manathis Rich (00:53):
I actually was raised there, got there at the
age of two and so had theprivilege and pleasure of
spending most of my childhoodthere.
Charlie Shaw (01:05):
There you go there you go and then you went on
from there.
Well, let me tell you, folks, Imet Mr Rich.
I went out to Dallas and he wasthere for a convention and I
was there for the Green BayPackers win against the Dallas
Cowboys and just kind ofgravitated towards one another.
(01:26):
He's gonna tell you one story,I'm gonna tell you another.
I just said hello.
He's gonna tell you I woke upthe whole airport with my voice.
Anyway, I'm glad that we areable to make our acquaintances
with one another.
So tell me a little bit aboutyourself.
Manathis Rich (01:46):
Well, first of all, it was truly a pleasure
meeting you out in Dallas.
That was so kind of hilarious.
Well, I was.
You know my father was military, my mother was a nurse and you
know I don't have the typicalmilitary childhood growing up.
You know where people had tomove all the time.
I've moved only basically threetimes with my father.
(02:10):
So I was born in Topeka, kansas.
At the age of two Dad gotstationed in Hawaii, schofield
Barracks, and so we went toHawaii and what was so
interesting, as you know, in theearly 60s of the Vietnam War
was going on.
So dad got tapped to go toVietnam in 1966 with the
(02:35):
Wolfhounds out of the 25thInfantry Division at Schofield
Barracks.
So, needless to say, wecouldn't go with him there.
So we bought a home.
Dad bought a home in in 65 inWahiwa, hawaii, right in the
middle of the island, and whilehe went to Vietnam, mom and dad
because mom was a nurse and hadshift work we had a longtime
(03:01):
family friend.
Their daughter was sent to staywith us so that my sister and I
could have somebody to watch usafter school while mom went to
work.
So she came out.
She was actually a eighth grade.
She was in the eighth grade atthe time, so she was old enough
(03:22):
to make sure we were taken careof, but yet young enough to not
affect you know, her high schoolyears, if you will.
Charlie Shaw (03:29):
So basically, she was a big sister to you and your
brother, right.
Manathis Rich (03:34):
Me and my sister.
Your sister, I'm sorry.
I thought you told me one timeyou had a brother, but it was a
friend that you that was closeto you when you were growing up.
Yes, actually he was.
Yeah, he was like my brother,but I do happen to have two
brothers.
But anyway, back to in the 60sthough, I have my sister and I,
(03:55):
and I think my sister at thetime was I think she was two and
I believe I was six when dadwent to Vietnam.
So anyway, we had had thefamily friend come and stay with
us.
And then dad got back fromVietnam in 67 and I guess, for
(04:16):
for having that hardship duty,he had a choice that if he took
the next assignment he have achoice of where he went to after
that.
Okay, so he got sent to Alaska,which we had a great time.
We were in Alaska, fortRichardson, right there in
Anchorage area, and then 1970,of course the choice was to go
(04:39):
back to Hawaii, to the home thatthey bought in 65, and never
traveled again with that.
So that was my, that was mymilitary experience.
Charlie Shaw (04:48):
Well, when you became an adult you did a little
bit of traveling, becauseyou're over here in.
Orlando now, but on yourjourney to Orlando?
Where was where you land?
Manathis Rich (05:00):
Well, that's a different story.
So when I went to Alaska, youknow, I had started school with
several friends in Hawaii.
When we got back to Hawaii Icaught up with all of them and
we graduated together in 1978.
And then in 1978, I raised myhand and volunteered and went in
the United States Air Forcewhere I spent the next nine
(05:23):
years plus of my life and spenteight of those years over in
Europe, specifically Germany andItaly.
Charlie Shaw (05:31):
So and you know the reason why I asked you that
is because that's kind of likewhere we gravitate one another
when we are having our havingour conversation on in the
airport terminal.
I realized that you were a vetand I'm a vet and you know we
just naturally gravitate towardseach other.
Absolutely.
You know, because I actuallywas on station of station over
in Italy with Navy back in the90s and I was like it was pretty
(05:56):
cool just to hear somebody elsehave that same experience.
Manathis Rich (05:59):
Yes, yes, I was up in Aviano Air Base in north
northeast corner of Italy.
Yeah.
Charlie Shaw (06:08):
Took a train up there from Naples.
We did did some travelingfamily and I back then, but I
was actually stationed over inLaMona, lena, sardinia.
Manathis Rich (06:17):
Oh yeah, yeah, we're familiar Right.
Charlie Shaw (06:22):
Small worlds man, it is.
Oh, so what got you into thefinancial field?
Manathis Rich (06:29):
Oh man, I was.
I was a floundering, young,young man coming out of the Air
Force and a lot of times, youknow, having coming out of the
service and not necessarilyknowing exactly what you want to
do with life, I happened to bekind of trying to find my way,
gotten to car sales and a fewother things, and what ended up
(06:54):
happening?
There was a gentleman by thename of Roy Ogasawara who was a
retired green beret from theArmy Right, and he was a, he was
a force to reckon with, workingwith New York Life and downtown
Honolulu, okay.
And so evidently I couldn'teven begin to tell you exactly
(07:17):
where he saw me, but we were.
We ran into each othersomewhere in downtown Honolulu
and there was evidentlysomething that sparked an
interest of hey, maybe thismight be something I might be
interested in.
So we talked back and forth,had a few interviews, took some
(07:38):
personality tests and all ofthose wonderful things that they
used to do back in the day tosee if you could be a fit.
They still do it.
And yeah, yeah, and I have noidea to this day what that
looked like, anyway.
So, anyway, I went in and hetapped me and said, yeah, we'd
(07:59):
like to go ahead and start youin our training program, and New
York Life happens to have oneof the finest insurance training
programs in the industry.
Right, and so I went ahead on.
I was enrolled.
I took a three day class on howto take the state exam for the
state of Hawaii and pass thefirst time.
(08:21):
I'm sitting next to people whohad gone in and taken the test
four, five and six times Goahead and pass it.
Charlie Shaw (08:28):
Go ahead and teach your honor for them.
Manathis Rich (08:30):
Well, you know, just, I was fortunate I took
that class versus because theywere self studying and you know,
with the, with the rules andregulations and things like that
, it's a lot, it's a lot to know, but I was able to get through
that.
But then I quickly found out,probably after about six months
(08:52):
or seven months or so, that thiswas, this was not going to be a
cakewalk and, and, of course,mr Ogasawara being the
respectful gentleman that he was, after about 12 months or so he
goes.
I don't think this is quite foryou right now.
So, and and it wasn't at thetime because I just was not
(09:16):
settled you know, you need tohave some stability.
It's commissioned pretty much,you get a stipend, but that's
about it for a certain period oftime.
If you're not, you know,feeding the pipeline of
prospects and clients, it couldbe a really, really tough road,
right?
Charlie Shaw (09:35):
I've been told that.
I've been told that sales isyou got to respect folks that's
in sales because they'regrinding hard and that game.
Manathis Rich (09:43):
Yeah, and here's the thing we're in a very unique
field when it comes down tofinance, because it's we're not.
You know, our system, ourschool system is not necessarily
gear Toward the education ofthe youth of this country to be
educated in finance and how tohandle your personal money and
(10:07):
things like that.
And not that I've always doneit well Right, I've done better
sometimes than others but butsome of the stuff that you could
learn that could keep you outof major situations, we're not
taught that stuff.
Charlie Shaw (10:20):
You know.
To be honest with you, I reallydidn't know about.
You know all the different waysof making.
You know letting your moneywork for you.
I was taught put money away forrainy day or put a little bit
of your on your savings accountor you got a loan, paid more on
the loan.
I never really was taught aboutthe stocks or what I would.
(10:44):
The retirement plan that I hadwas you know, I wasn't taught by
that.
I wasn't taught like that, andI wish I would have would have
been great.
Oh, yeah, had that had thatknowledge as a young man, I
would have actually put moremoney away when I was 18.
Manathis Rich (11:01):
You know better financial understanding.
Charlie Shaw (11:03):
But you know, as you know, as you meet people and
you listen to, you know, keepyour ears open, you might learn
something.
And I just learned a little bit.
Learn a little bit where I canretire now.
Manathis Rich (11:12):
But that was about it, yeah, and here's the
thing we're we're not taught,we're not taught how to keep
more of our money, where we'retaught to put our money in
places, to defer it, to pay itout later, right, Right, and we,
yeah, and when you pay thatmoney out later, it's not
(11:34):
necessarily all to yourself,because you got a silent partner
named Uncle Sam.
Charlie Shaw (11:39):
I was.
I was going to let you, let metell you, tell him who it was.
Uncle Sam.
He is our silent partner.
Well, we like partners, but wedon't like partners.
It's going to take 20, 25% fromyou.
Manathis Rich (11:53):
Well, we would like to know that we have a
partner Right.
Charlie Shaw (11:57):
Well, you know what?
And Uncle Sam's defense?
I like the roles that we rideon and the infrastructure.
Manathis Rich (12:04):
Yeah.
Charlie Shaw (12:05):
But I want some of it back.
Manathis Rich (12:07):
Yeah Well, it would be nice if some of that
money that you paid Uncle Samdid pay for the roads.
But that's all appropriatedstuff and so therefore it has
nothing to do with what's takenfrom you.
Charlie Shaw (12:17):
Right.
So, segueing into that, do youhave any ideals, or that?
You well, I know that you'regoing to have you're going to
have some financial planningthat we're going to discuss
later on.
Okay, and you, basically, thisshow is the buildup for those
shows that I would like topartner with you on.
Manathis Rich (12:36):
Oh, okay.
Charlie Shaw (12:37):
Well, that's a month and how you feel about
that.
Okay, great.
Manathis Rich (12:39):
You know, yes, I feel good about that.
I think it would be greatbecause, once again, simply
stated but can be complicated inimplication, you know, in
implementation.
Charlie Shaw (12:54):
So you hold seminars and workshops and this
feel too right.
Manathis Rich (13:00):
I do, I actually have.
I have a weekly zoom that I do.
That's by by invitation andmust register to to participate,
and that's only so that we canknow who has showed up and who
we could follow up with andthings like that.
(13:20):
But I do do that once a weekand and then I also if people
require, If people request,right, they would like to have
some more information, I canschedule that as well or put
them on my calendar and I can doone on one at their, at their
leisure, Okay.
Charlie Shaw (13:40):
Let's go back to what we were discussing before.
Where do you, where we discussthat we're not teaching our the
youth about financialresponsibility?
But that was a youth you weretalking about.
What about folks in there justjust getting started in their
careers?
Manathis Rich (13:58):
Yes, yeah, that's a big deal, because I mean, you
think about it.
Let's say you graduated fromhigh school.
You got your first second job,maybe, or you're, you're going,
you know, you're getting finallygetting that.
You've graduated from college,maybe, or you found a profession
that you really like, um you,it's so important to be able to
(14:18):
know where you can park yourmoney.
That's going to be in your bestinterest, and there's so many
misconceptions of what it'spossible.
So I went to a high schoolrecently here in Orlando,
florida, where I'm currentlyresiding, and had an audience of
about 35 students, fromfreshmen to seniors and and
(14:44):
nothing but positive reviewsafter we were done, just
teaching them a few concepts ofhow money works.
Charlie Shaw (14:52):
Are you on Liberty's?
Manathis Rich (14:54):
Tell me which high school that was, because
I'm yeah, there was Evans HighSchool right here in Pine Hills
Florida and you know what I likethat, evans is?
Charlie Shaw (15:04):
they're not.
They're popular with their,with their Sports, and you're
over there teaching andfinancial literacy man.
I that's awesome, I like that.
Manathis Rich (15:14):
Yes, I'd like to go back to because I've been
there.
I Actually was invited once,was invited back.
It didn't come to fruition forwhatever reason, but but yeah, I
just would love to be able andyou know, it doesn't even have
to be in that setting, it can be, somebody can, if there's
anybody out there that like tothrow a group together and maybe
(15:35):
meet at a library, in a sideroom or whatever.
We don't have to wait.
It doesn't have to be formal.
It could be very informal, butno matter what is, as long as
it's being done, and it could beof all ages, right?
Well, I mean I say all ages.
Charlie Shaw (15:50):
I'll say age of understanding to you know, to 60
, 70, 80 years old right, andyou mentioned that is zoom,
because my audience is prettymuch all over the country, but
so that that's available toanyone you know you can travel
to them, you can also do zoomwith them.
Yeah, one consultations, okay,okay.
Manathis Rich (16:14):
Yes, absolutely.
Charlie Shaw (16:16):
Oh, what different programs would you be talking
about?
Manathis Rich (16:21):
Um, well, I mean like we can talk about basics,
but you know, we could talkabout a number of things, but
one of the things that there's acouple of platforms that a lot
of people are familiar with this401k, 457 plans, 403 B's, TSP's
(16:42):
, iris we can talk about allthose things, but I do not.
I actually do not implementthose things because of the
requirements.
Like I don't get into theinvestment side of things.
I use a Very, very specificplatform that is like a Swiss
army knife that can cover awhole lot of things and and and.
(17:07):
Once you know that, then it's,it's.
At least you can make aninformed decision of hey, do I
want to park money in that,especially when I can access an
income tax free lawfully.
You know things like that right.
Charlie Shaw (17:23):
You want to make a make money, work for you and
make it available to you whenyou want it, not waiting to
liquidity.
Yeah, I wait until you're 59and a half.
Manathis Rich (17:33):
That's right Would it, play with it.
That's exactly right, andthat's that's some of the
limitations that you find withqualified plans, because you got
to remember who makes the rulesof the qualified plans.
The government does, yeah, yes,you know.
So I ask a very simple questionto most people what is that?
(17:53):
And?
And that question is this wouldyou rather be taxed on the seed
or the harvest?
Charlie Shaw (18:01):
I remember this, when we were talking Sorry, and
you would you rather yes.
Well, you tell me what, what,what.
What is the better?
What is what's better for you?
If you, if someone asks youthat question, where, in which
direction would you go?
Manathis Rich (18:16):
Well, how many seeds do I have?
No, just.
Charlie Shaw (18:22):
That's not what you said last time.
Manathis Rich (18:26):
No, well, if you were, if someone handed you ten
apple seeds and you paid the taxon that, we have no idea how
many apples can be be harvestedfrom those 10 trees over time,
right, right?
So obviously the, the thelesser of the tax is going to be
the seeds, because the, becausethe harvest could be so
(18:51):
bountiful that, obviously,whatever taxes would be taken
from that harvest are going toway, way out, way, the 10 seeds
that you pay tax on.
Charlie Shaw (19:00):
So the way I understand this is pay it on the
front end, not the back, sothat you can.
Manathis Rich (19:05):
That's another way of saying it.
Charlie Shaw (19:07):
Yeah, you can reap what you sow without a right
out of your head.
Manathis Rich (19:12):
That's exactly right and that's actually that's
a very well, that's a very putvery well is this, you know?
Because here's the thing whenyou're in a qualified plan, so
let's just say, for kicks andgrins, you're, you're your state
, and you are putting a 5% ofyour paycheck into the qualified
(19:35):
plan that they have set up foryou, and let's just say that the
company matches it and that'swonderful because that's 5% free
money to you, right?
Yes, sir.
And so let's say you do thatfor 40 years and you get down
the road and you're gettingready to now retire.
Okay, now remember, half ofthat money was given to you
(19:59):
freely by the company, right?
Charlie Shaw (20:01):
Yeah.
Manathis Rich (20:02):
But at the end of the day, when you say you have
a $50,000 a year lifestyle andyou have to pull funds from that
qualified plan, well, you'regonna have to pull out Probably
somewhere in the neighborhood of65 to $70,000 To be able to
(20:23):
keep the 50 that you live on.
Okay, so basically, the freemoney that was given to you by
that company really wasn't freeis basically cut.
Yeah, what's this covering thetax?
Right, it wasn't free.
Yeah, okay, and and that and sotherefore, but but it helped
(20:45):
the company Contributing on yourbehalf, because the company
gets certain, you know, certainbenefits from Contributing right
there their tax rate off?
Yeah, exactly and you, youBelieving that, wow, this is
great.
And if you, let's say, you endup in, just for easy numbers,
(21:08):
$100,000 in set account and nowlet's say you're 65, that's fine
.
That money in that account isnow you know, your money to be
able to use for your retirement,but, once again, just depending
(21:29):
on what kind of lifestyleyou've established, because I
know most people when theyretire, they retire on less
money while they're not workingthan they do when they're
working.
Charlie Shaw (21:39):
Yes, that's a fact .
That's a fact.
Manathis Rich (21:42):
You know.
So if you were making $80,000 ayear while you were working and
then, all of a sudden, now youfind yourself retired, well,
there's a pay cut there.
Charlie Shaw (21:52):
Living off 45% of what you were earning yesterday.
Manathis Rich (21:57):
That's right, 45% to 50% of that, and that's why
the retirement, you have theretirement there.
But that's why they say, well,you know, your empty nest, your
kids are gone and your houseshould be paid off.
I mean, but that's all of thatis if everything worked out
perfectly.
Charlie Shaw (22:15):
Absolutely.
That's perfect storm, you know,yeah, my kids are.
Manathis Rich (22:18):
I don't know if anybody's got a perfect storm.
No, no.
Charlie Shaw (22:23):
I had to drive those cash cars.
Watch what I bought.
You know I didn't want mydaughters, you know, worrying
about school and all that.
You know things.
Hey, man, that's life,everybody.
I was able to put a little bitaway, but you're right, they're
going to take whatever you havein there.
They're going to take 20, 25%when you're ready to cash out.
Manathis Rich (22:43):
At least and think about it.
If you're a high net earner, ifyou're a high net worth earner,
oh, man.
Man, you think they're doinggreat right Doctors, lawyers and
all that stuff.
Man, if they're not carefulthey get eat up.
Charlie Shaw (23:00):
That's 35% if you fall in those in that high, high
tax break.
High, that's exactly right, andI don't know numbers, I'm just
throwing it out there, but youknow, oh no, yeah, it could be
anywhere from 26 to 30, 36%,just depends.
Manathis Rich (23:15):
And then we got to take a look at OK, is that
just federal?
Yeah, then we start taking alook at what about states?
What about the states that haveinteresting tax brackets?
Charlie Shaw (23:25):
You know, I think that's why a lot of people land
in Florida, Texas, Tennessee.
Let me see the other ones.
Maybe Washington state is that.
Manathis Rich (23:33):
The Washington state, Nevada, Arizona, Nevada
and AC and, I believe I think,Montana.
Montana is the government yeah,I think that's another one, so
I don't know all of those.
But what I would say, though,is, between the Fed, the state,
the sales and any other fees andthings that you might be paying
(23:54):
, every single bit of thatcounts and takes away from your
network.
Charlie Shaw (24:00):
Yeah, you really do have the plan.
I've always had conversationswith my guys when I said, hey,
listen, man you guys need to goto retirement seminar 10th year
fifth year and then every otheryear until you decide that
you're leaving because thingschange and I live by that.
(24:21):
And I'm not going to say I wasperfect with my money.
I'm not going to say that I wasalways listening and paying
attention or I was alwaysphysically responsible with my
funds, because things come upand I'm not saying that I just
blew any Things come up whereyou can't put away.
Early on I didn't put away alot of money, but as my
(24:42):
responsibilities decreasemeaning raise in the family I
was able to sock away a littlebit more.
Was it hard at first?
Yes, because it was alldisciplined.
It was disciplined Right.
It's a habit.
Right, it was a habit that youhad to create and you know as
well as I do habits are createdover time.
That's correct.
(25:03):
That's exactly right.
And even now, as retired, I'mstill watching my ends, making
sure that I'm not overspending,because I don't have that 100%
coming in anymore.
Manathis Rich (25:14):
That's right.
That's right, and that's why alot of people have a hard time.
That's why you find a lot ofour older population is having
to work, because you have to.
Also, the other thing that wegot to take a look at, and this
is the silent tax, which is theinflation tax.
Yes, I mean the cost of goodsand services.
Those dollars that you used tobe able to do 10 years ago do
(25:37):
not do the same thing today.
Charlie Shaw (25:39):
Well, as Fed Joe said and this is a guy, a rapper
he said those are yesterdayprices, these are today prices.
Manathis Rich (25:48):
That's exactly right, right.
A dollar, a dollar you knowjust even four years ago, does
not do today what it did fouryears ago.
Charlie Shaw (25:57):
Yeah, I was looking at the price of my GMC
pickup truck, for example.
Right, that thing rolls upalmost eight grand in four years
.
Manathis Rich (26:07):
I was like get out of here.
That's the same truck.
Charlie Shaw (26:09):
I sat in it and I was like this is the same truck,
Are you kidding?
Manathis Rich (26:13):
me.
Charlie Shaw (26:13):
Yeah, absolutely, you got the nerd to put almost
10,000 more on it and then tellme that's a good deal.
I'll keep this until the wheelsfall off.
Manathis Rich (26:24):
Yeah, you'll keep it until the wheels fall off,
oh, keep it until the wheelsfall off.
But you know, isn't itinteresting?
Right now you can go with Chevytrucks back, you know, way back
in the day.
You know four $5,000, $5,000,$6,000 for a truck.
Right Now you get a GMC or aChevy pickup or something like
(26:49):
that and you're spending $60,000, $70,000, $80,000, $100,000.
Charlie Shaw (26:54):
You know how many grandfathers are rolling over in
a grave man?
We're spending that kind ofmoney, oh man, yeah.
Manathis Rich (27:00):
But you know, what's so interesting about it
is that it takes more of thosedollars to get that vehicle
because of that thing calledinflation.
Now I'm going to share a littlesecret with you in your
audience.
So one of the things thatreally interesting about this
(27:22):
thing called the dollar right,right, the last person holding
the dollar is the biggest loser.
Charlie Shaw (27:31):
Tell me about that .
Manathis Rich (27:34):
Well, if you don't do something with the
dollar?
Charlie Shaw (27:38):
then it's worthless.
So you got to move that thingaround in commerce.
Manathis Rich (27:43):
You have to move it in order for you to feel like
, in order for you to have anyany worth.
Because here's the thingdollars just sitting around do
very little to nothing.
Charlie Shaw (27:56):
You're going against the grain, but you're
going against the grain.
Manathis Rich (27:59):
Well, just a minute ago we were talking about
saving money.
Now you're telling me you wantme to spend it.
Charlie Shaw (28:04):
Come on now.
Don't confuse me in theaudience.
What do?
Manathis Rich (28:07):
we got to do so.
So what that tells you is maybe, just maybe, it might be more
about cash flow than cashholding.
Charlie Shaw (28:17):
Okay, okay.
I don't mind flowing stuff, andof course there's way.
Manathis Rich (28:21):
Yeah, so that so, but the last person holding us.
So what I mean by that is,let's say, obviously, if you're
sitting in your house and youwant it to have some, some milk
and cereal, if you don't havethe dollars to buy the milk and
cereal or trade for the milk andcereal, you may or may not have
milk and cereal.
(28:42):
It might, you might, need to bea gift from somebody.
However, somebody's paying forit, yeah, yeah, so now?
So if you're holding thedollars just to have the dollars
and you're not flowing theminto things that you need to
change, exchange for what youneed in your life, then you
(29:05):
holding the dollars does nothingfor you.
Now, now it does soundcontrarian doesn't it?
It's like oh save money, yeah,but there is a.
There's a purpose for havingthe availability of money to
have more value of the money inwhich you're holding.
And remember the tax, the taxesfor the money you're holding.
(29:30):
That means that the thathundred thousand you were
holding obviously cannot go anddo more of the things that you
would need it to do while you'repaying tax on that money.
That's right, that's right.
So just trying to keep thatclear that, yes, there is a
there's a time that you want tobe able to have access to funds
(29:52):
that are not, that are, that arelittle to little to no tax on
it.
Yes, that's what you want tohave.
You want to have access andbasically cash flowing in the
right places allows you to dothat.
Charlie Shaw (30:05):
And you plan on teaching us that?
Manathis Rich (30:07):
Well, yes, that is what, that's what it is, well
advising us.
It is the plan.
Yeah, that's the plan, becausemy my thing is is I can share
and share, and share, but youhave to really wrap your head
around it and remember.
We've been indoctrinated solong to not look at things
differently.
Charlie Shaw (30:25):
And you know that's a whole another
discussion for another showbecause we, you and I we talked
for about an hour on on thatsubject and I got off the phone
with you and I was like and wedid it, yeah, we, we did a
little show on thinking outsidethe box.
That was basically thinkingoutside the box.
And that's something that wedon't force ourselves to do
(30:46):
because we're so used to thenorm.
This is the way it goes.
You wake up, you do this, youdo that, you do that and then
you retire back to your bed.
Manathis Rich (30:55):
Yeah, yeah, that's right Part of our
conversation, if I'm notmistaken was about thinking
right, free will, yeah, yeah,yeah, yeah, we're not thinking
when we get out of bed, that's.
This is an unnatural movement,right?
That's not thinking Right.
Yeah, right, walk one foot infront of the other?
Charlie Shaw (31:15):
That's not thinking, that's not thinking,
that's just doing it.
There's no complexity there,you know.
You just doing it, it's right.
But like I said, I I thoughtabout what you said and you know
I couldn't argue it at thepoint, because it's it's
something that we're justnormally, that we're just doing
(31:36):
and we need to Right Thinkoutside, sometimes Right,
there's a great book called thethe science of getting rich by
Wallace D Waddles.
Wallace D.
Manathis Rich (31:46):
Waddles, waddles, waddles, waddles.
Yeah, and that that book waswritten back in like 1915
sometime.
And one of the things he talksabout in the book is it says, is
that thinking is the hardestwork you will ever do.
Charlie Shaw (32:03):
You remember when we were sitting there and
somebody thought somebody wasbeing lazy at the airport, when
actually that man was probablyjust thinking about what he's
going to be doing next.
Manathis Rich (32:20):
He was like leave that man alone.
He's thinking, give him time tocollect his thoughts.
That's exactly right.
So I want to share.
I want to share a little quotefrom a Dr Ray Hagan.
Okay, ray Hagan, dr Ray Hagan.
Charlie Shaw (32:42):
Yes.
Manathis Rich (32:43):
And, and one of the things that Dr Ray Hagan
used to do before he would teachany any idea if he'd have.
He'd have his audience, havehis audience repeat this message
and here's what it says thespace inside this circle, you'd
(33:06):
have you put your hands up andput your hands kind of in a
circle, okay.
And he says the space insidethis circle represents my realm
of knowledge.
All that I think I know, aboutwhatever I think I know, is
depicted right here within thecircle.
I must keep in mind that thereis more to know than what is
(33:29):
within the circumference of myawareness.
Charlie Shaw (33:36):
There's so much more outside of circle that we
need to let in.
Manathis Rich (33:42):
Yeah, Dr Ray Hagan.
He was the chief elder of theAfrican village in St Louis,
Missouri, and I used to lovethat and I used it with the kids
at the high school and whatthat does is prepare the mind to
receive information and not getcomplacent thinking you know it
(34:03):
all.
Charlie Shaw (34:04):
Yeah, that's where so many of us fail is when we
think we know it all.
Manathis Rich (34:08):
That's correct.
I've been accused of it.
Charlie Shaw (34:16):
You're in good company.
Manathis Rich (34:19):
That's all I have for you.
Charlie Shaw (34:21):
I'm in good company.
But you know, when you stopthinking like that, you realize
that you have a great mind thatcan absorb so much more, so much
more than what you hadyesterday, so much more
information, and I appreciateyou sharing that quote with us
(34:42):
and I hope that the listenersheard you and held up that
circle, because I had an usual,also of it.
Manathis Rich (34:50):
Yes, and it's really cool because once I got
that it was like oh, wait aminute.
Yeah, I do know a lot of stuff,but now the question becomes is
what you have, are you using it?
Or like what they say you havecommon sense.
Charlie Shaw (35:08):
Are you using it?
Yeah, yeah.
Manathis Rich (35:11):
And what's so interesting is understanding
that everyone and this is a hardone to wrap people's heads
around, but I'll try it rightnow and that is this, and, from
their perspective, is correct.
Charlie Shaw (35:27):
Yeah, I can't argue everyone.
Manathis Rich (35:29):
Yeah, everyone is correct from their perspective.
Charlie Shaw (35:33):
It's sort of like what they.
What I've heard before is we'reall in the same building, but
we got different.
We're looking out differentwindows, we've got different
views of things, so you're neverwrong.
You know what you're looking atmay not be, may not fit the
scenario that you, that you'retrying to, you know, resolve or
solve, but you're never wrongand what you, you know what, how
(35:54):
you view things, is just maybea different way of looking at
that.
Manathis Rich (35:59):
So if that is true, why do we have so many
arguments?
Yeah, and it's because of thelack of acceptance that
everybody can be right fromtheir perspective.
Charlie Shaw (36:18):
I think that's just.
We're not perfect people.
That's the only way I can saythat we have to accept, we have
to be accepting Right and see,here's the thing that's so
interesting.
Manathis Rich (36:32):
but you need to be more receptive to mine than
me of yours.
That's where the argument comesin.
Charlie Shaw (36:38):
Yeah, take my 51%, we'll hold on before you
Because that's the way I see it.
Manathis Rich (36:46):
Oh, you don't agree?
Huh, oh, okay, I don'tunderstand, I just don't get it.
Charlie Shaw (36:55):
You don't see it my way.
Manathis Rich (36:57):
Yeah, you know.
Charlie Shaw (36:59):
You know we disagree to agree on a few
things.
Like I said, that discussion wehad that evening I was like wow
, yeah, I got to go to bed, butI'm not done with him yet, and
you were up for the challenge.
Manathis Rich (37:13):
Yeah, oh yeah.
And here's the thing it's likewe all are.
We're all products of ourexperience right, I mean no
matter what right I mean we hearpeople talk about all the time.
You know my environment, myenvironment, you know Right and
you know just to a certaindegree I agree that yes, it's
(37:36):
your environment, but then atsome point, where does the
environment end, and you takecontrol of what you believe and
that could be anything.
Charlie Shaw (37:45):
now I know some people that could be anything.
Manathis Rich (37:48):
That's exactly right.
Charlie Shaw (37:50):
Where you were raised, who you raised by yes,
what you were exposed to, whatyou were exposed to, why?
I have no idea.
I was raised in Wisconsin,racing in Wisconsin.
You don't know anything?
Oh, I don't know.
You've been to Wisconsin before.
Manathis Rich (38:04):
No, I can't say that I have.
I think I flew throughMilwaukee once, but all I know
is all I know is it's it's it'svery cold in the world.
Charlie Shaw (38:18):
It all depends on if you're dressing warm, you
know.
So people that dress warm, hey,it's not that cold to me,
that's right.
Manathis Rich (38:27):
You know I do like your hair.
But yeah, all things equal.
It has some low temperatures.
Charlie Shaw (38:34):
Yeah, and Hawaii.
Some people may think thatthat's too humid or, you know,
that's just too hot for me, youknow you never know, it's just
how.
What were you exposed to?
And yeah, set set your frameline, so sometimes we got to
give people a chance and justhear them out.
Manathis Rich (38:53):
Yes, absolutely, and and even even be able to
have the ability to recognizewhere they're coming from,
rather than making a judgmentthat they're there, you know.
You know, because a lot of usjump to judgment that they're
even there and totallydismissing why they could be
(39:15):
there.
Charlie Shaw (39:16):
Yeah, Well, I'm going to wrap up the show on
that note and we can pick backup on that.
But in the meanwhile, could youcome up with a few topics for
us to discuss?
I don't know if you want to gomonthly.
I'm more than happy to do thatwith you, if you want to go
quarterly.
I just want you to educate the.
(39:37):
Educate my people as well asmyself, and I'm not saying that
they don't know about financialliteracy, but I want to learn
more.
Manathis Rich (39:44):
And if I'm all right more.
Charlie Shaw (39:45):
I'm sure that there's a few people that would
also.
Manathis Rich (39:48):
That's awesome and I you know what I figure,
the more the merrier versus youknow, you know, because you just
never know when, when peoplemay be in that spot to where
they need to know something thatthey might have been growing,
they might have been grapplingwith.
Right is like, hey, I'm, I'mjust starting my career, was I
(40:08):
want to start sooner than later,than there's those that are on
their way to retirement and andconfused by that whole process,
right, what is that going tolook like?
And here's what I would sayObviously, time is is the
commodity you never get back.
(40:29):
Yes, so because you never getthat back, the sooner and the
more often that we can do thatis going to be in our best
interest.
So I I look at it from thestandpoint of more often is
going to be better than lessoften.
So I'd be more than happy tocome back on a quarterly I mean,
(40:49):
excuse me, on a monthly basis.
Absolutely Appreciate that,appreciate that very much, larry
.
Charlie Shaw (40:54):
Sir, I appreciate you and all you know.
We're gonna have our you knowour conversations offline and
bring it back online.
Believe me, folks, we do getalong.
Manathis Rich (41:04):
Yes, we do very well.
Charlie Shaw (41:06):
And I like the fact that we can agree to
disagree, because both of us arelearning.
That way, you're learning thatway.
Manathis Rich (41:12):
Yeah, absolutely, I agree.
Charlie Shaw (41:14):
Alright, folks, until next time Take care and
stay safe.
Aloha everybody.
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