August 6, 2025 • 33 mins
What separates the wealthy from everyone else? It’s not luck—it’s how they think. Today on The Jon Sanchez Show at 3pm, we’ll reveal the powerful habits, beliefs, and decisions that self-made millionaires live by—and how you can apply them starting right now. This is a mindset shift you don’t want to miss!
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Episode Transcript
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Speaker 1 (00:03):
Good ones, say, afternoon, you welcome to the John Sanchez
Show on News Talk seven eighty K which it's a
pleasure to be with you and a pleasure to be
with a man who finally has his voice back, mister
Jason got aka the Professor.
Speaker 2 (00:14):
Yeah, yeah, almost, I have my DJ voice, you do?
Speaker 1 (00:19):
Yeah, I agree, I almost. Yeah. It's I need to
do like some special recordings with you because yeah it
sounds awesome. Man counting down the hits misit tunes, right, yeah,
steel yeah, all right, well, good, good to Good to
have you, so I don't have to fly solo, that's
(00:40):
for sure. All right, let's tell you, guys what we
have in store for you. Got a jam packed show
this afternoon. Let's get down to it. First, we're gonna
give the market recaps of big news after hours regarding
the Trump administration's announcement on semi conductors. Yeah, he thought
that was all over on the tariff side, slash semiconductors.
Oh no, no, no, no, no no, got some big news
for you on that one. Then we're going to get
(01:00):
into our topic, what separates the wealthy? Right? What separates
you wealthy? Why are you doing what you're doing? Why
are you saving so diligently in your four to one
K hopefully your brokerage account, your e raes. Why are
you doing all the right things right? You want to
build wealth, you want to build money for retirement, whatever
your goals may be. With Jason and I thought would
be a really fun topic and very much of a
(01:22):
motivational type of topic. Is this to show you how
you can think like a wealthy person. You know, you've
heard of say many times on this program that success
in investing really is about ninety eight percent mental and
a little bit of luck, maybe one or two percent
luck somewhere around there. But you know, watching investors throughout
(01:43):
the years, knowing our own investing habits as portfolio managers,
et cetera, it really comes down so much to the
mental side of things. And that same mental gain that
makes a successful investor also makes a wealthy person, because
you see, a wealthy person looks at my and wealth
completely different. We're going to reveal what the powerful habits
(02:05):
are of the wealthy, the beliefs that the wealthy have,
and the decisions that self made millionaires live by, and
then most importantly, how you can start applying those to
your personal life now if your desire is to be wealthy,
because again, Jason, people that have wealth, they look at
things absolutely different than the average person who's just trying
(02:25):
to make it day by day, dollar by dollar. Yeah.
Speaker 2 (02:29):
No, And it's it's tough too because thank you, thanks Christen.
It's hard because you know, there is no one playbook
to all of it. I mean, how do you become wealthy?
You have rich parents, but you know a lot of
it too, is I mean not to I mean we
can be cliche and say, well, the line that you've
(02:49):
used before that wealth is more than money, right, I
think it's very well set. And you know, we can say,
but I'm sure you're talking most definitely about monetary wealth
and growing assets and absolutely cash flow.
Speaker 1 (02:59):
Right. And so.
Speaker 2 (03:01):
I find with a lot of our clients and people
I interact with, there is a distinct difference between how
folks who have money and are gaining assets act relative
to those who have more sort of scarce assets and
or depleting them, right. And it is oftentimes a mindset, right,
(03:21):
It is a situation that they may know a lot
of the people that I see growing assets are living
very much within their means to an extreme oftentimes right,
they're not spending sor they're running commentary when I'm doing budgeting, right,
anything that you don't save, you spend, and paying yourself first,
(03:42):
saving first, making the act of retirement savings, reinvesting into
other hopefully cash producing assets into the future as you
are earning money is much more of a focus for them.
Then I'm going to spend the money I have now
on life and life experiences and all these things that
(04:03):
I feel like I need and then foregoing the savings part.
So it is very much a mindset that's ingrained early.
You know, there's a couple clients that popping into my
head right away that are amazing at it, right, Like
their whole focus is how do I save? How do
I be smarter about saving? How do I invest in
something that can compound? And it's just a it's a lifestyle.
(04:24):
It's not something that you know inherently everyone does, but
it is something that you can work at, like we said,
and get much better at.
Speaker 1 (04:33):
Absolutely absolutely, And you know, again I cannot stress, we
cannot stress enough the psychological side of this. And again
the love the words that she just used. The mindset, right,
you can you can start from nothing, and you know,
most of us we started with nothing, and through the
grace of God and hard work and a little bit
of luck and so on and so forth, you know, we
(04:54):
we've done pretty well for ourselves. But I'll tell you know,
as I always tell young people Jason, they go, geez,
you know, how did you make it? How'd you do it?
And well, I was having a car I'm going to
share a really funny story because I didn't think about
this until just now. So yesterday before the show, I'm
sitting down, I'm having lunch and a call comes out
of my cell number and it's from Las Vegas. Well,
(05:15):
we've been doing some business with some people in Vegas.
So I answered it, which I never do, right, but
it's like, oh, this may be this person from the bank.
So I answered the phone and he goes I speak
to mister Sanchez and I said speaking and he goes, Hi,
my name is Brian and I'm with its cybersecurity company.
Can I have twenty seconds of your time? I'm like, okay,
(05:37):
it's a cool call, so really cool voice that this
kid has. And he starts going through the pitch and
it takes him about ten seconds and I said, you know,
we already have our it, you know, taking care of
and so on and so forth. And he goes, oh, okay, well,
I thank you for your time. He said, but wait
a minute here, I said, can I give you some advice?
(05:58):
And so so I had this twenty minute conversation with
this kid. I'm talking about how to properly cold call. Right.
I built this business, this firm that you and I enjoy,
I built at one cold call at a time, which
you can't do cold calling anymore in this business. But
that's how I built it. I mean, like I told him,
I said, I made over three hundred phone calls every
single day, getting hung up and hung up on. And
(06:20):
finally you get something that's interested in what you have.
And all right, there's one client, and then you do
it again and eating again, get hung up on. You
did another one. So I started giving this kid some
advice and he goes, wow, sir, thank you. I didn't
realize that, And so I told him how to that.
You know, show me what the benefit is of you calling. Right,
you're calling a CEO of a company. What's your benefit?
You better tell me in about ten seconds why you're
(06:41):
calling and how it's going to benefit me. So I said,
instead of calling and say you know, how's how's your
it doing? Say sir, are you concerned about cyber attacks
on your firm? And I said, you want to get
them to say yes. What CEO or CFO or C
suite executive is going to say no, I'm not concerned
about that. Right, So now you've opened the door Son
to getting a conversation with this per scenary call. And
he' say, wow, I've never thought about that. He goes,
(07:03):
hold on up, I'm gonna type this into chat GPT
and see what it says. So chat GPT comes back
and it basically, you know, agrees with what I just
told him to do. But my purpose of that is that's,
you know, again, how you can build wealth is you
just you believe in something. I built it, you know again,
one phone call at a time, and then the blessing
of Jason coming into my life years ago, and it
just continues. Not that it's easy every day. I mean
(07:25):
we are in the trenches, as all of you know,
every single day. Our first priority in our life is
to take care of ourselves, our family, God, and of
course our clients. And so we work really really hard,
and like a lot of our competitors that you know
are on the golf course at one o five every day,
But it can happen. But it all starts with the
mental mindset. And my point of all this is you
(07:46):
have to visualize what you want, right if you are
not willing to become wealthy, if you don't want it,
which is fine, I mean a lot of people don't
give a damn about you know, wealth or anything. But
those of you that do, especially young kids out there,
let me give you one secret that I've used my
entire life, and that is visualizing what you want something
to be right. If you want to be healthy, you
(08:07):
visualize the healthy bodies. That's going to help you exercise.
If you want to visualize that you're wealthy, you visualize
that lifestyle and then you go, Okay, now I can
see myself doing that. How am I going to get there?
To do it? Now? You take a dream which is, oh,
I want to do this, and you turn it into
a goal and you go, these are my action steps.
These are what I need to do every day, every week,
every month, and before you know it, your dream becomes
(08:30):
a reality. But it all starts with a mental side
of that. And that's why, you know, again, we're so
excited to share this topic with you because it works, folks,
it does. And you know I started from nothing, Jason
started from nothing. But you know, neither one of us
came from you know, ivy leagues or wealthy relatives or
anything like that. We're just two hard working guys and
(08:52):
you know we've made it, but you know, we got
a long ways to go by all means. And our
point is all of you can do the same thing.
And I love talking like I said to this yesterday
and just saying, look at you can do whatever you want.
And then he opened up to me. He goes, you know,
I've only been on the job for about ten days,
and man, it's really hard. I'm not really liking this.
I'm not too successful, too successful at this cold con like, dude,
(09:12):
don't give up yet. You can do it, you know.
And I gave him my story. It's like it could
be done because I believed in myself and I believed in,
you know, what I wanted to do and what I
wanted to become. And he was just so grateful, and
my wife was sitting there listening to me she's just
shaking her head. Afterwards, she goes, I can't believe you
just spent twenty minutes talking to some kid out of
nowhere and you just coached him on how to be
successful cold calling and you know his new and Mitchell like,
(09:33):
you know what. That's what life's about, right, That's as
you and I both know. We're both I think, very
very good teachers and we love to help you know others. Yeah,
so that's a interesting story there. All right, my friend,
let's uh, let's squeeze in for the next two minutes.
Let's cute, get your stock market recap, and we'll talk
about what's happened in the after hours on these chip companies.
Speaker 2 (09:53):
I mean, an interesting day with the s and p
up you know, close to seventy five basis points on
the day and now is back up one point. But
most if you look at inside of your portfolio outside
of Apple and Tesla and a handful of others, may
feel like you were down today. I mean, that was
up eighteen basis points. It was very specific amongst a
handful of names. You know, big news out of Apple
(10:14):
carried over into the after hours with additional investments, and
they talked about companies like MP Materials, that magnetics maker,
and Coherent who does optical some of their connections, but
a little bit of a consumer discretionary excitement. Today Amazon
was up four percent. Tesla, as I mentioned, was up
about eleven.
Speaker 1 (10:34):
You're seeing a.
Speaker 2 (10:35):
What's called reversion where the winners are lagging and the
losers are winning, and that is very common after big
market runs. Also very common of you know, a market
that is tired, where people are starting to now peek
out and look, he well, where else can I put
money that names that have underperformed, and you tend to
(10:55):
see a little bit of weakness over the next couple
of weeks. August September tend to be seasonally weak parts
of the year, and we're getting a lot of earnings
that I would say, overall have been pretty darn good. Yeah,
outside of a couple of little shots here and there,
I think AMD had good numbers, but they had a
decent run up into the results. Obviously, the chip comments
after the clothes won't specifically hurt them, but certainly others
(11:18):
in the space, So you know, don't be surprised to
see some volatility over the next I'd say weeks just
given the big run we've had off the lows. But
interest rates are coming down thoughts they come down later
in the year will provide a bit of a I
think a ballast for the market. But utilities under perform,
real estate underperform, materials under perform. It was really that
(11:40):
consumer discretionary area that helped the market as much as
it did today.
Speaker 1 (11:44):
So beautiful, all right. When we come back, we'll get
into a new one tariff on certain chip manufacturers. Give
you the details and what impact is having A little
bit weak started the futures market that started trading a
few minutes ago, so we'll bring up to date on
that and then get into our topic, what's up rates
the wealthy turn Over to Kristen Snow, who makes me
wealthy every day because I get to hear her beautiful
(12:05):
voice and become so educated on the highways and byways
of northern Nevada.
Speaker 3 (12:08):
It's all you, Oh, thank you, really hey, hey, yes,
us dads do that, that's for sure.
Speaker 1 (12:20):
I like your dad already. Welcome back to the John
Sanchez Show. On his Talk seven eighty k O waits
with Jason Gatton. We finished up eighty one on the
Dow to close a forty four thousand and one ninety three,
the nazec are star one point two one percent gain,
up two hundred and fifty three points, closing at twenty
one thousand and one sixty nine, and the smb hired
(12:42):
by forty six points or point seventy three percent, to
a close of six thousand and three forty five. Oil
lost seventy four cents to sixty four to thirty four
a barrel, gold, pulling back a dollar sixty three thousand
and four to thirty three eighty an ounce, and up
two basis points on the ten year treasury at yealda
four point two two percent. Well, as we said, break
Ky News kem in from the White House not long
after the stock market closed at one o'clock our time,
(13:05):
and boy, this could be interesting tomorrow. So a little
update on the futures. They've calmed down a bit again.
They started trading at three o'clock now, future is down
twelve nasaks are lower by just one now, and the
S andp's are higher by two. So we'll see what
kind of reaction happens based upon what I'm about to
tell you tomorrow. So here's the situation right after the closes,
I said, the President said he's going to impose a
(13:25):
one hundred percent tariff on imports that includes semiconductors, though
he would exempt companies moving production back to the United States. Now,
is it kind of a coincidence, mister Gaunt that today
was also the day that, as you said, CEO Tim
Cook of Apple of course, announced day fresh one hundred
(13:46):
billion dollar investment back here in the US. That amazing
terrors for those that didn't and rewards for those that
are building here. Here's a quote from the President. We're
going to be putting a very large tariff on chips
and semiconductors. But the good news for companies like Apple
is if you're building in the United States or have
committed to build without question, committed to building in the
(14:07):
United States, there will be no charge. That's what he
told reporters. So in in other words, we'll be putting
in a tariff of approximately one hundred percents on chips
and semiconductors. But if you are thinking of building in
the US, there's no charge. Even though you're building and
you're not producing yet in terms of the big numbers
of jobs and all the other things building. If you're building,
(14:29):
there will be no charge. So almost repeat of the
first paragraph I just read you. All right, So now
what did Apple do today? So Apple said, okay, I
can't tell you. They didn't know this was coming. Apple said,
We're going to invest one hundred billion dollars in the US.
It's going to include a new manufacturing program designed to
bring more of Apple's productions to the US. The company's
American Manufacturing Program partners that includes companies like Corning, Simple
(14:52):
glw Amat, Applied Material, Texas Instruments, and many other companies.
Corning today said they're going to dedicate an entire factory
in Kentucky to Apple's glass production, increasing the company's workforce
in that state by fifty percent. Corning was already a
supplier of Apple, making glass for the very first iPhone
at the same factory. Apple had previously pledged to spend
(15:13):
Remember before the president got elected and Tim Cook donated
a bunch of money, Apple had already said they're going
to spend five hundred billion dollars in the US over
the next four years to accelerate their previous investments. They're
going to add about thirty nine billion in spending and
an additional thousand jobs annually. This is going to bring
the total. So this is where things get a little twisted.
The totals spend by Apple six hundred billion. Remember five
(15:36):
hundred billion before the election, one hundred billion announced now
now the previously announced five hundred billion is said to
include work on a new server manufacturing facility in Houston,
a supplier academy in Michigan, and an additional spending with
existing suppliers in the country. Do you have any idea
what a supplier academy is. I've never seen that term.
Speaker 2 (15:55):
No, No, this is where it happened.
Speaker 1 (15:56):
Maybe not either. Yeah, bring in suppliers and teach them
how to do with Apple, right, I I can figure out. So,
all right, something right exactly. This is how you do it,
kind of like working with the government. Okay. So that
was the news. Like I said, a few minutes after
the stock market closed today, now mid session today we
got more news on tariffs. You know, yesterday was nice,
(16:17):
ja we really didn't get any tariff news, and then
today it's all dumped on us here. So today the
president said, all right, guess what, India, We're going to
slap you with a fifty percent tariff in the first half.
Doesn't say what the first half is. I assume the
first half of Well, we're past the first half of
this year, so I don't know what the first half is.
(16:39):
But he said in the first half, which takes effect, Oh,
here we go just after midnight, so I guess tonight
alongside a raft of other countries specific levies designed to
reduce trade imbalances. The other half will penalize India for
buying Russian energy, which I touched on my stock reports
this morning. That will take effect later this month. President
also said he can unveil separate levees on all products
(17:01):
containing semiconductor chips as soon as next week, while the
details of those terrafs and how firms will qualify for
exemptions have yet to be released. Again, Trump singled out
Cook's Apple as an example of how to avoid the
increased levees. So this, this one on India caught me
off guard, Jason. Things, you know, they're an ally and
in most sense except oops, we shouldn't be buying oil
(17:23):
from Russia, right, That was the one of the major mistakes.
And some other countries that Trump doesn't like. But Manda
jump up a fifty percent tariff. And you know what's
really interesting. I did some further research on this, and
what's really interesting is iPhones. Most of the iPhones currently
that are sold here in the US, guess where they
come from? India? India. Yep. Bulk of other products, including
(17:47):
the watches, iPads, and MacBooks are manufactured in Vietnam, which,
by the way, was hit with a twenty percent tariff.
So this is interesting. So whatever's trying to figure out
at this point is Okay, since Cook announced this, you know,
six hundred billion dollars total, does that mean that iPhones
coming out of India, where most of them are made,
coming here to the US will be Nolan void of
(18:09):
any tariff. No one knows at this point. So that's
that's what we'll see. I think right now, if I
remember from what I read before, you're paying a twenty
percent tariff on Apple products. You know, we we bought
one of our staff members a MacBook a few days ago,
and uh yeah, they're not cheap anymore. Jeez, they're just
(18:31):
holy only they're not cheap anymore. And I'm like I
was thinking that, I'm like, okay, how much of this
was a tariff that I just paid for. So, you know,
we will see on this. But you know, it's a
it's a it's it's just an ever changing world with
all this, right, we just don't know. And I think
that's you know, I still one analyst today and I
can't remember where he was from on CNBC and he
(18:53):
brought up a good point. He goes, you know, how
in the world will this country ever go back to
a no on tariff environment? Right, Let's let's fast forward.
Let's say Trump's term is up. Do you think the
next president, Republican or Democrat is going to go, Hey, India,
we know you had a fifty percent tariff or whatever
it ends up, probably end up at twenty percent when
(19:14):
it's all said and done. Forget that we're buddies now right,
we're gonna put you at zero tariff. No, I mean
Biden proved that the Democrats will continue they you know,
Biden continue with the tariffs on China. So, like you
and I have said, this has now become an ATM
machine for the US government. And so I think no
matter who's in in the office, this point for those
(19:36):
tariffs are gonna be there. I just cannot see anybody
coming in Republican or Democrat. As I said, go uh,
you know what tariff's are reduced or eliminated all together.
It's like our old adage, you know, the drug the
drugg You just got the shot of of, you know,
pick your favorite drug and his IV and he's like,
I'm not this feels too good. I'm not gonna stop this.
So what do you think of that?
Speaker 2 (19:58):
I think you're probably on something.
Speaker 1 (20:00):
Unfortunately. All right, all right, when we come back, let's
move over to something really fun. What separates the wealthy?
So we're gonna go through a list of what we
see as the traits of those that have wealth compared
to those that don't. And if you want to have wealth,
well maybe you want to implement some of these ideas.
But first it's turned over to Jack Saban. He's got news, traffic,
and weather. Hey, Jack, welcome back to the John Sanchez
(20:25):
Show on Newstalk seven to eighty KHICH with Jason Gun
once again. We finished up eighty one on the Dow,
game two fifty three on the Nasdaq, can hire by
forty six on the SMP. Well, hopefully today's gains built
your wealth. If not, Hey, what can we do to
help you out? And that's what we're gonna move into. Now,
what separates people that have wealth versus those that don't.
So Jason and I have comprised a list of about
(20:46):
seven things that we see with wealthy people versus those
that are not. And so let's start. I'll take the
first one, Jason, I'll start with the first one. Folks.
This is again, this is so much mental that we're
gonna go through with you. Number one, the wealthy person
focuses on assets, not just income. So what I mean
by that is wealthy people prioritize acquiring income producing assets,
(21:10):
right cash flow? How do we do that? They acquire
real estate, they build businesses or buy businesses rather than
trading time for money. And you know, let me tell you, folks,
if you ever are bored, go to YouTube and there
are some incredible videos about wealth building and what's called
silent wealth and meaning those that have wealth and they
don't like to show it versus you see all these
(21:32):
these posers on YouTube, you know, all the young kids
with the bling around their neck and they're living in
the multi million dollar mansion. And Jason, I always think of you.
It's like Oh yeah, I just made you one hundred
thousand dollars day trading four x options today. Look at
my Lamborghini in the park in the driveway of my
multimillion dollar house. Yeah, on and on a bunch of crap.
Then you find out the only way they're making their
(21:52):
money is they've got about two thousand people paying them
a couple hundred bucks a month to get their quote
trading secrets. Right, you know and I you know I
both know how well that goes.
Speaker 2 (22:00):
You are the trading secret.
Speaker 1 (22:02):
You are the trading secret.
Speaker 2 (22:03):
Yeah, got my position.
Speaker 1 (22:04):
Yeah, that's right. That's right. So, in all seriousness again,
when you start building wealth, you start to realize time
is your biggest asset. It's not the cash flow, it's
not the paycheck, it's nothing. It's time. So you start
looking at it and go, Okay, what is the best
(22:24):
use of my time? This guy on the other side
of the microphone is a great example of this. Jason,
you are great at delegating things. I'm getting better thanks
to you. You are great at delegating things. You always
put a value on your time and go look at
if we can have a staff member do this, or
hire someone else to do it. That's the way that
you have to do it. And that's a really hard one.
And especially I've admitted this has been one of my
(22:46):
biggest weaknesses is I've built this business and then you
come along and you've taught me, wait a minute here,
that's not a good use of your time to be
doing that. That's one of the hardest things when you're
an entrepreneur because, as you well know, you do everything
yourself right. You're taking out the trash, you're washing the windows,
calling your clients, you're doing da da da da. And
you're used to doing everything yourself. But you can't do
that if you want to build wealth.
Speaker 2 (23:06):
No, And I mean I think, like you said, the
only real fixed asset is time. And so you know,
I'm not one that just like delegates everything that.
Speaker 1 (23:15):
I do tho.
Speaker 2 (23:16):
It's more of what hire people that are good at things,
or train them to be good at things, and then
let them go be good at them, right, Like I
find that that managers fail at more often than not,
and especially entrepreneurs who started out doing everything themselves. Is
letting go of things, right, And that's not a bad thing,
(23:38):
Like you did well at it, but again, you only
have so much time. My job is to position someone
to be successful. Be here, to be bumpers around the
edges if they have questions as they're learning, but let
them go own that thing so then you can go
focus on what you need to be good at. And
if they fail, you know, you help them where you can.
(23:59):
And maybe sometimes they're not the right fit. But over
time you'll find that, you know, letting people go out
and do what they're good at allows you to go
be good at what you're good at. And that's how
you have the ability to grow your wealth because now
that thing that was, you know, right in front of you,
you've got all the time in the world to spend
on it. And that's where the gains really happened.
Speaker 1 (24:20):
Absolutely absolutely. The Sun interview, I think it was yesterday.
What was that hot ipo on Friday? Fig right, pigma figm. Yeah.
And this, you know, I don't know how this how
old this kid is like late twenties, I think. And
you know, all of a sudden, this company goes public.
Kind of paid his price. I mean he almost went
(24:41):
bankrupt a couple of times building the company, but they
just went public on Friday, and it was one of
these instant you know, I'm now worth five point six
or six billion dollars and a very humble guy, et cetera.
But it's exactly to your point. He's like, you know,
I had a hard time building this business. The best
thing I ever did is hire people. And I always
say this, hire people that are smarter than you, and
like you just said, let them, let them do it,
(25:03):
let them figure things out, because, folks, you're going to
find out, especially if you're an entrepreneur, there are a
lot of people that could do things a lot better
than you as the business owner. If that's how you're
building your wealth, you need to focus on what you do,
which is what I really truly enjoy the most nowadays,
and that is how are we going to move forward? Right?
Here we are today August the sixth, Where are we
going to be August six of twenty twenty six and
(25:24):
August six of twenty thirty. That's the job of a
leader and of a CEOs to position the company to
start to move forward. Right. You never can just sit
on your laurels. But the bottom line is, you know,
personal wealth. Back to that topic, The goal that everybody
has is you have time, right how do these people
here Corey talk about some of his clients that have
massive real estate portfolios. We have clients that make pretty
(25:45):
nice sums of money from their portfolio that enables them
to not trade time for money, like those that collect
a paycheck. Right, you're really just trading your time for money.
But the wealthy, their time is everything. So they want
assets that are producing income and they really don't have
to do a lot. And so that's really one of
the big biggest thing is focus on the assets, not
(26:07):
just the income side of things. Jason, Let's go to
point number two. Think long term. That's what the wealthy do.
The millionaires they play the long games. The billionaires they
play the long games. They delay gratification, invest consistently, make
decisions based upon future value, not short term emotions.
Speaker 2 (26:26):
Yeah, I mean the tough part is a lot of
times it's generational, right and if especially if you're looking
at looking to grow you know, your portfolio, your family
portfolio over time. It takes time, right, And so with anything, sure,
you can do the get rich quick, or you can
watch one of those bozos on TV day trade you know,
(26:47):
three ex levered options and blow up, or like I've
talked about a bunch of time. If you've got any
sort of strategy, be it trading or otherwise, you need
to test it. You need to see, you know, is
this really something that works or did it work once right,
or maybe it worked twice but the other five times
it didn't. And so with everything you need to put
(27:10):
your time into it in order to get a fruitful
benefit in the future. And it's a long game. It
is not instant gratification like you've talked about before, grinding
and grinding and grinding with all the entrepreneurial you know decisions.
Eventually one works and it works, you know fast, but
you got to stumble and get back up. So it's
just it's not it. It's it's something that you have
(27:32):
to just know that early on. Just like a startup
tech company. It isn't oh my gosh, I made all
this money quick, I'm gonna spend it. All that money
needs to go back into the business. And sometimes that's
a struggle for a lot of people. They see this
money come quick, they blow it all and then you
get the cycles. And any good company can withstand cycles.
(27:53):
So yeah, it is very much a long term game.
Speaker 1 (27:56):
You bet all right, well, come back with point number three.
They see problems as opportunity. Tell you what we mean
by that. Let's wrap it up with Kristen snow Right
out Traffic Center. Kristen, Welcome back to the John Sanchez
Show on Newstalk seven eighty k oh. If Jason and
I and our team can be of service to you
and your financial slash retirement planning needs, we'd love the
opportunity to talk to you show how we do things differently.
(28:18):
Call the office at seven seven five eight hundred and
eighteen oh one. Go to our website Sanchez Gaunt Gaunt
dot com. Sot an appointment there, Jason, I get a
memory and don't forget pick up our podcast. Jason, are
you watching what Apple's doing in after Hours? Yeah?
Speaker 2 (28:32):
It's strong like bull.
Speaker 1 (28:33):
Yeah, it's up three percent. Yeah, finished the day at
up ten dollars and thirty six cents. Now what sixteen
dollars and ninety six cents went from two thirteen twenty
eight in the regular set now to nineteen eighty eight
that on that chip news Wow, amazing. Yeah, I mean
it's still got a big new for that suck.
Speaker 2 (28:51):
Yeah, I mean it's still got let me see breakout wise,
I mean, I think it through here. You've got pretty
thin air up to you know, call it to eighteen
to twenty level, and then you know another real big
resistance level around two forty. So the stock's not at
all time highs, whereas oh knots of the other technology
companies are. So I think it's a bit of a
(29:12):
bit of a chase, especially given how big of a
weight it is, and probably as big of an underweighted
as it in many technology portfolios. Is Have you think
it's an underweight oh, one hundred percent?
Speaker 1 (29:24):
Yeah, really, yes, for sure.
Speaker 2 (29:26):
I think it's a it's a short inside of a
tech portfolio, people with short Apple versus long other stuff. Yeah,
it's just you know, it's that over expensive not growing
like in Nvidio and Semis and things like that. It's
definitely been a perennial short for a long time. But
who knows, maybe this changes a little bit, and that's
why stocks move five percent and three percent after hours
when there's like shortcoming.
Speaker 1 (29:48):
So yep, finished the dates down to your point, down
fourteen point eight four percent year to date fifty two
week high on December twenty sixth of last year, two
hundred and sixty dollars and ten cents. Again, it's a
to nineteen fifty two. So yeah, it's got a ways
to go, but heading in the right direction. That'll help
out the doubt side of things and being a doubt sure. Yes,
(30:09):
all right, let's go back to our topic, how to
think like a wealthy person. So number one, they focus
on assets not just income. They think long term. Number three,
they see problems as opportunities. Right, this is one of
the greatest traits that a person can have. Instead of
avoiding a problem, instead of avoiding a risk, what do
they do? They manage it? Right, Challenges are puzzles to solve,
(30:31):
not reasons to quit. And especially again those of you
that are going to build your wealth or with real
estate or assuse me with a small business, you will
always always have challenges. There's never a day that goes
by that there's not going to be a challenge to
put to your test. But again, they don't see it
as a problem. They see it as an opportunity. And
that's why, frankly, so many of these entrepreneurs that have
(30:51):
started tech companies there was a problem somewhere that they
found a niche, right, that's how to create a successful business.
You find a problem, you create the solution, and so
one of the best traits that you possibly can have.
Let's go to number four, Jason surrounding themselves with other
successful people.
Speaker 2 (31:07):
And we talked talked about that A bit right mindset
is important too. Right, when you're around someone who's always
negative and always looking at the downside of things, it
tends to proliferate through a company. Right. You need folks
who can look at the bright side and not just
serial positive like I'm on drugs, but you know someone
who can look at Okay, here's an issue, how do
we fix it? Right, that's a better way to say,
(31:28):
there's an issue where we're going to fail. Right, And
I think you know mentors, coaches, peers, those are always
good to do and invest in your time outside of
your industry, right, other people can have interesting ideas. You
hang out with the same investment advisors all the time,
you're going to hear the same stuff. You want to
get around people that have a different point of view.
Speaker 1 (31:46):
Absolutely, not just yes people. Yeah. Number five, they prioritize
learning and self improvement. That's pretty self explanatory. The automate
and delegate, one of Jason's favorite things. Create systems and
policies and procedures right time again, it's their most valuable asset.
They want to outsource low value tasks to focus on
high impact decisions and strategies. That's what you're getting the
big bugs for. And then lastly, they think in net worth,
(32:09):
not in paychecks. Instead of asking geez, how much did
I make this week or this month or this quarter,
they ask how much am I worth?
Speaker 2 (32:15):
I e?
Speaker 1 (32:15):
Your personal net worth, your wealth, and most importantly, how
can I grow that? So I'd say, if there's one
thing that my dear friend and I want to have
you walk away with is this. Don't you don't have
to be wealthy to start thinking like the wealthy, right,
You don't have to take these as your beginning steps.
Start building on them. Do one of them a week
and watch and see what happens. It will work, folks,
I promise I have faith in all of you. God
(32:37):
bless all of you. Thank you for joining us today.
We do appreciate it. We'll do it again tomorrow on
the John Sanchez Show. Have a great afternoon, Jay, We'll
see everybody tomorrow. Please pro durbye sanche has gone to
Capital Management LLC. The material in this program was intended
as general information only and should not be taken at
specific investment, tax or legal advice. None of the information
on this broadcast was intended to be a solicitation for
(33:00):
the purchase or sale of any security. Further information is
available by contacting John at Sanchez Gaunt dot com or
seven seventy five eight hundred one eight oh one. John
Sanchez offers securities and advisory services through Independent Financial Group LLC,
a registered broker Dealer and Investment Advisor member FINRA SIPC.
Securities offered only in States. John Sanchez is registered in
(33:23):
Sanchez Gaunt Capital Management LLC. In Independent Financial Group LLC
are unaffiliated entities.
Good ones, say, afternoon, you welcome to the John Sanchez
Show on News Talk seven eighty K which it's a
pleasure to be with you and a pleasure to be
with a man who finally has his voice back, mister
Jason got aka the Professor.
Speaker 2 (00:14):
Yeah, yeah, almost, I have my DJ voice, you do?
Speaker 1 (00:19):
Yeah, I agree, I almost. Yeah. It's I need to
do like some special recordings with you because yeah it
sounds awesome. Man counting down the hits misit tunes, right, yeah,
steel yeah, all right, well, good, good to Good to
have you, so I don't have to fly solo, that's
(00:40):
for sure. All right, let's tell you, guys what we
have in store for you. Got a jam packed show
this afternoon. Let's get down to it. First, we're gonna
give the market recaps of big news after hours regarding
the Trump administration's announcement on semi conductors. Yeah, he thought
that was all over on the tariff side, slash semiconductors.
Oh no, no, no, no, no no, got some big news
for you on that one. Then we're going to get
(01:00):
into our topic, what separates the wealthy? Right? What separates
you wealthy? Why are you doing what you're doing? Why
are you saving so diligently in your four to one
K hopefully your brokerage account, your e raes. Why are
you doing all the right things right? You want to
build wealth, you want to build money for retirement, whatever
your goals may be. With Jason and I thought would
be a really fun topic and very much of a
(01:22):
motivational type of topic. Is this to show you how
you can think like a wealthy person. You know, you've
heard of say many times on this program that success
in investing really is about ninety eight percent mental and
a little bit of luck, maybe one or two percent
luck somewhere around there. But you know, watching investors throughout
(01:43):
the years, knowing our own investing habits as portfolio managers,
et cetera, it really comes down so much to the
mental side of things. And that same mental gain that
makes a successful investor also makes a wealthy person, because
you see, a wealthy person looks at my and wealth
completely different. We're going to reveal what the powerful habits
(02:05):
are of the wealthy, the beliefs that the wealthy have,
and the decisions that self made millionaires live by, and
then most importantly, how you can start applying those to
your personal life now if your desire is to be wealthy,
because again, Jason, people that have wealth, they look at
things absolutely different than the average person who's just trying
(02:25):
to make it day by day, dollar by dollar. Yeah.
Speaker 2 (02:29):
No, And it's it's tough too because thank you, thanks Christen.
It's hard because you know, there is no one playbook
to all of it. I mean, how do you become wealthy?
You have rich parents, but you know a lot of
it too, is I mean not to I mean we
can be cliche and say, well, the line that you've
(02:49):
used before that wealth is more than money, right, I
think it's very well set. And you know, we can say,
but I'm sure you're talking most definitely about monetary wealth
and growing assets and absolutely cash flow.
Speaker 1 (02:59):
Right. And so.
Speaker 2 (03:01):
I find with a lot of our clients and people
I interact with, there is a distinct difference between how
folks who have money and are gaining assets act relative
to those who have more sort of scarce assets and
or depleting them, right. And it is oftentimes a mindset, right,
(03:21):
It is a situation that they may know a lot
of the people that I see growing assets are living
very much within their means to an extreme oftentimes right,
they're not spending sor they're running commentary when I'm doing budgeting, right,
anything that you don't save, you spend, and paying yourself first,
(03:42):
saving first, making the act of retirement savings, reinvesting into
other hopefully cash producing assets into the future as you
are earning money is much more of a focus for them.
Then I'm going to spend the money I have now
on life and life experiences and all these things that
(04:03):
I feel like I need and then foregoing the savings part.
So it is very much a mindset that's ingrained early.
You know, there's a couple clients that popping into my
head right away that are amazing at it, right, Like
their whole focus is how do I save? How do
I be smarter about saving? How do I invest in
something that can compound? And it's just a it's a lifestyle.
(04:24):
It's not something that you know inherently everyone does, but
it is something that you can work at, like we said,
and get much better at.
Speaker 1 (04:33):
Absolutely absolutely, And you know, again I cannot stress, we
cannot stress enough the psychological side of this. And again
the love the words that she just used. The mindset, right,
you can you can start from nothing, and you know,
most of us we started with nothing, and through the
grace of God and hard work and a little bit
of luck and so on and so forth, you know, we
(04:54):
we've done pretty well for ourselves. But I'll tell you know,
as I always tell young people Jason, they go, geez,
you know, how did you make it? How'd you do it?
And well, I was having a car I'm going to
share a really funny story because I didn't think about
this until just now. So yesterday before the show, I'm
sitting down, I'm having lunch and a call comes out
of my cell number and it's from Las Vegas. Well,
(05:15):
we've been doing some business with some people in Vegas.
So I answered it, which I never do, right, but
it's like, oh, this may be this person from the bank.
So I answered the phone and he goes I speak
to mister Sanchez and I said speaking and he goes, Hi,
my name is Brian and I'm with its cybersecurity company.
Can I have twenty seconds of your time? I'm like, okay,
(05:37):
it's a cool call, so really cool voice that this
kid has. And he starts going through the pitch and
it takes him about ten seconds and I said, you know,
we already have our it, you know, taking care of
and so on and so forth. And he goes, oh, okay, well,
I thank you for your time. He said, but wait
a minute here, I said, can I give you some advice?
(05:58):
And so so I had this twenty minute conversation with
this kid. I'm talking about how to properly cold call. Right.
I built this business, this firm that you and I enjoy,
I built at one cold call at a time, which
you can't do cold calling anymore in this business. But
that's how I built it. I mean, like I told him,
I said, I made over three hundred phone calls every
single day, getting hung up and hung up on. And
(06:20):
finally you get something that's interested in what you have.
And all right, there's one client, and then you do
it again and eating again, get hung up on. You
did another one. So I started giving this kid some
advice and he goes, wow, sir, thank you. I didn't
realize that, And so I told him how to that.
You know, show me what the benefit is of you calling. Right,
you're calling a CEO of a company. What's your benefit?
You better tell me in about ten seconds why you're
(06:41):
calling and how it's going to benefit me. So I said,
instead of calling and say you know, how's how's your
it doing? Say sir, are you concerned about cyber attacks
on your firm? And I said, you want to get
them to say yes. What CEO or CFO or C
suite executive is going to say no, I'm not concerned
about that. Right, So now you've opened the door Son
to getting a conversation with this per scenary call. And
he' say, wow, I've never thought about that. He goes,
(07:03):
hold on up, I'm gonna type this into chat GPT
and see what it says. So chat GPT comes back
and it basically, you know, agrees with what I just
told him to do. But my purpose of that is that's,
you know, again, how you can build wealth is you
just you believe in something. I built it, you know again,
one phone call at a time, and then the blessing
of Jason coming into my life years ago, and it
just continues. Not that it's easy every day. I mean
(07:25):
we are in the trenches, as all of you know,
every single day. Our first priority in our life is
to take care of ourselves, our family, God, and of
course our clients. And so we work really really hard,
and like a lot of our competitors that you know
are on the golf course at one o five every day,
But it can happen. But it all starts with the
mental mindset. And my point of all this is you
(07:46):
have to visualize what you want, right if you are
not willing to become wealthy, if you don't want it,
which is fine, I mean a lot of people don't
give a damn about you know, wealth or anything. But
those of you that do, especially young kids out there,
let me give you one secret that I've used my
entire life, and that is visualizing what you want something
to be right. If you want to be healthy, you
(08:07):
visualize the healthy bodies. That's going to help you exercise.
If you want to visualize that you're wealthy, you visualize
that lifestyle and then you go, Okay, now I can
see myself doing that. How am I going to get there?
To do it? Now? You take a dream which is, oh,
I want to do this, and you turn it into
a goal and you go, these are my action steps.
These are what I need to do every day, every week,
every month, and before you know it, your dream becomes
(08:30):
a reality. But it all starts with a mental side
of that. And that's why, you know, again, we're so
excited to share this topic with you because it works, folks,
it does. And you know I started from nothing, Jason
started from nothing. But you know, neither one of us
came from you know, ivy leagues or wealthy relatives or
anything like that. We're just two hard working guys and
(08:52):
you know we've made it, but you know, we got
a long ways to go by all means. And our
point is all of you can do the same thing.
And I love talking like I said to this yesterday
and just saying, look at you can do whatever you want.
And then he opened up to me. He goes, you know,
I've only been on the job for about ten days,
and man, it's really hard. I'm not really liking this.
I'm not too successful, too successful at this cold con like, dude,
(09:12):
don't give up yet. You can do it, you know.
And I gave him my story. It's like it could
be done because I believed in myself and I believed in,
you know, what I wanted to do and what I
wanted to become. And he was just so grateful, and
my wife was sitting there listening to me she's just
shaking her head. Afterwards, she goes, I can't believe you
just spent twenty minutes talking to some kid out of
nowhere and you just coached him on how to be
successful cold calling and you know his new and Mitchell like,
(09:33):
you know what. That's what life's about, right, That's as
you and I both know. We're both I think, very
very good teachers and we love to help you know others. Yeah,
so that's a interesting story there. All right, my friend,
let's uh, let's squeeze in for the next two minutes.
Let's cute, get your stock market recap, and we'll talk
about what's happened in the after hours on these chip companies.
Speaker 2 (09:53):
I mean, an interesting day with the s and p
up you know, close to seventy five basis points on
the day and now is back up one point. But
most if you look at inside of your portfolio outside
of Apple and Tesla and a handful of others, may
feel like you were down today. I mean, that was
up eighteen basis points. It was very specific amongst a
handful of names. You know, big news out of Apple
(10:14):
carried over into the after hours with additional investments, and
they talked about companies like MP Materials, that magnetics maker,
and Coherent who does optical some of their connections, but
a little bit of a consumer discretionary excitement. Today Amazon
was up four percent. Tesla, as I mentioned, was up
about eleven.
Speaker 1 (10:34):
You're seeing a.
Speaker 2 (10:35):
What's called reversion where the winners are lagging and the
losers are winning, and that is very common after big
market runs. Also very common of you know, a market
that is tired, where people are starting to now peek
out and look, he well, where else can I put
money that names that have underperformed, and you tend to
(10:55):
see a little bit of weakness over the next couple
of weeks. August September tend to be seasonally weak parts
of the year, and we're getting a lot of earnings
that I would say, overall have been pretty darn good. Yeah,
outside of a couple of little shots here and there,
I think AMD had good numbers, but they had a
decent run up into the results. Obviously, the chip comments
after the clothes won't specifically hurt them, but certainly others
(11:18):
in the space, So you know, don't be surprised to
see some volatility over the next I'd say weeks just
given the big run we've had off the lows. But
interest rates are coming down thoughts they come down later
in the year will provide a bit of a I
think a ballast for the market. But utilities under perform,
real estate underperform, materials under perform. It was really that
(11:40):
consumer discretionary area that helped the market as much as
it did today.
Speaker 1 (11:44):
So beautiful, all right. When we come back, we'll get
into a new one tariff on certain chip manufacturers. Give
you the details and what impact is having A little
bit weak started the futures market that started trading a
few minutes ago, so we'll bring up to date on
that and then get into our topic, what's up rates
the wealthy turn Over to Kristen Snow, who makes me
wealthy every day because I get to hear her beautiful
(12:05):
voice and become so educated on the highways and byways
of northern Nevada.
Speaker 3 (12:08):
It's all you, Oh, thank you, really hey, hey, yes,
us dads do that, that's for sure.
Speaker 1 (12:20):
I like your dad already. Welcome back to the John
Sanchez Show. On his Talk seven eighty k O waits
with Jason Gatton. We finished up eighty one on the
Dow to close a forty four thousand and one ninety three,
the nazec are star one point two one percent gain,
up two hundred and fifty three points, closing at twenty
one thousand and one sixty nine, and the smb hired
(12:42):
by forty six points or point seventy three percent, to
a close of six thousand and three forty five. Oil
lost seventy four cents to sixty four to thirty four
a barrel, gold, pulling back a dollar sixty three thousand
and four to thirty three eighty an ounce, and up
two basis points on the ten year treasury at yealda
four point two two percent. Well, as we said, break
Ky News kem in from the White House not long
after the stock market closed at one o'clock our time,
(13:05):
and boy, this could be interesting tomorrow. So a little
update on the futures. They've calmed down a bit again.
They started trading at three o'clock now, future is down
twelve nasaks are lower by just one now, and the
S andp's are higher by two. So we'll see what
kind of reaction happens based upon what I'm about to
tell you tomorrow. So here's the situation right after the closes,
I said, the President said he's going to impose a
(13:25):
one hundred percent tariff on imports that includes semiconductors, though
he would exempt companies moving production back to the United States. Now,
is it kind of a coincidence, mister Gaunt that today
was also the day that, as you said, CEO Tim
Cook of Apple of course, announced day fresh one hundred
(13:46):
billion dollar investment back here in the US. That amazing
terrors for those that didn't and rewards for those that
are building here. Here's a quote from the President. We're
going to be putting a very large tariff on chips
and semiconductors. But the good news for companies like Apple
is if you're building in the United States or have
committed to build without question, committed to building in the
(14:07):
United States, there will be no charge. That's what he
told reporters. So in in other words, we'll be putting
in a tariff of approximately one hundred percents on chips
and semiconductors. But if you are thinking of building in
the US, there's no charge. Even though you're building and
you're not producing yet in terms of the big numbers
of jobs and all the other things building. If you're building,
(14:29):
there will be no charge. So almost repeat of the
first paragraph I just read you. All right, So now
what did Apple do today? So Apple said, okay, I
can't tell you. They didn't know this was coming. Apple said,
We're going to invest one hundred billion dollars in the US.
It's going to include a new manufacturing program designed to
bring more of Apple's productions to the US. The company's
American Manufacturing Program partners that includes companies like Corning, Simple
(14:52):
glw Amat, Applied Material, Texas Instruments, and many other companies.
Corning today said they're going to dedicate an entire factory
in Kentucky to Apple's glass production, increasing the company's workforce
in that state by fifty percent. Corning was already a
supplier of Apple, making glass for the very first iPhone
at the same factory. Apple had previously pledged to spend
(15:13):
Remember before the president got elected and Tim Cook donated
a bunch of money, Apple had already said they're going
to spend five hundred billion dollars in the US over
the next four years to accelerate their previous investments. They're
going to add about thirty nine billion in spending and
an additional thousand jobs annually. This is going to bring
the total. So this is where things get a little twisted.
The totals spend by Apple six hundred billion. Remember five
(15:36):
hundred billion before the election, one hundred billion announced now
now the previously announced five hundred billion is said to
include work on a new server manufacturing facility in Houston,
a supplier academy in Michigan, and an additional spending with
existing suppliers in the country. Do you have any idea
what a supplier academy is. I've never seen that term.
Speaker 2 (15:55):
No, No, this is where it happened.
Speaker 1 (15:56):
Maybe not either. Yeah, bring in suppliers and teach them
how to do with Apple, right, I I can figure out. So,
all right, something right exactly. This is how you do it,
kind of like working with the government. Okay. So that
was the news. Like I said, a few minutes after
the stock market closed today, now mid session today we
got more news on tariffs. You know, yesterday was nice,
(16:17):
ja we really didn't get any tariff news, and then
today it's all dumped on us here. So today the
president said, all right, guess what, India, We're going to
slap you with a fifty percent tariff in the first half.
Doesn't say what the first half is. I assume the
first half of Well, we're past the first half of
this year, so I don't know what the first half is.
(16:39):
But he said in the first half, which takes effect, Oh,
here we go just after midnight, so I guess tonight
alongside a raft of other countries specific levies designed to
reduce trade imbalances. The other half will penalize India for
buying Russian energy, which I touched on my stock reports
this morning. That will take effect later this month. President
also said he can unveil separate levees on all products
(17:01):
containing semiconductor chips as soon as next week, while the
details of those terrafs and how firms will qualify for
exemptions have yet to be released. Again, Trump singled out
Cook's Apple as an example of how to avoid the
increased levees. So this, this one on India caught me
off guard, Jason. Things, you know, they're an ally and
in most sense except oops, we shouldn't be buying oil
(17:23):
from Russia, right, That was the one of the major mistakes.
And some other countries that Trump doesn't like. But Manda
jump up a fifty percent tariff. And you know what's
really interesting. I did some further research on this, and
what's really interesting is iPhones. Most of the iPhones currently
that are sold here in the US, guess where they
come from? India? India. Yep. Bulk of other products, including
(17:47):
the watches, iPads, and MacBooks are manufactured in Vietnam, which,
by the way, was hit with a twenty percent tariff.
So this is interesting. So whatever's trying to figure out
at this point is Okay, since Cook announced this, you know,
six hundred billion dollars total, does that mean that iPhones
coming out of India, where most of them are made,
coming here to the US will be Nolan void of
(18:09):
any tariff. No one knows at this point. So that's
that's what we'll see. I think right now, if I
remember from what I read before, you're paying a twenty
percent tariff on Apple products. You know, we we bought
one of our staff members a MacBook a few days ago,
and uh yeah, they're not cheap anymore. Jeez, they're just
(18:31):
holy only they're not cheap anymore. And I'm like I
was thinking that, I'm like, okay, how much of this
was a tariff that I just paid for. So, you know,
we will see on this. But you know, it's a
it's a it's it's just an ever changing world with
all this, right, we just don't know. And I think
that's you know, I still one analyst today and I
can't remember where he was from on CNBC and he
(18:53):
brought up a good point. He goes, you know, how
in the world will this country ever go back to
a no on tariff environment? Right, Let's let's fast forward.
Let's say Trump's term is up. Do you think the
next president, Republican or Democrat is going to go, Hey, India,
we know you had a fifty percent tariff or whatever
it ends up, probably end up at twenty percent when
(19:14):
it's all said and done. Forget that we're buddies now right,
we're gonna put you at zero tariff. No, I mean
Biden proved that the Democrats will continue they you know,
Biden continue with the tariffs on China. So, like you
and I have said, this has now become an ATM
machine for the US government. And so I think no
matter who's in in the office, this point for those
(19:36):
tariffs are gonna be there. I just cannot see anybody
coming in Republican or Democrat. As I said, go uh,
you know what tariff's are reduced or eliminated all together.
It's like our old adage, you know, the drug the
drugg You just got the shot of of, you know,
pick your favorite drug and his IV and he's like,
I'm not this feels too good. I'm not gonna stop this.
So what do you think of that?
Speaker 2 (19:58):
I think you're probably on something.
Speaker 1 (20:00):
Unfortunately. All right, all right, when we come back, let's
move over to something really fun. What separates the wealthy?
So we're gonna go through a list of what we
see as the traits of those that have wealth compared
to those that don't. And if you want to have wealth,
well maybe you want to implement some of these ideas.
But first it's turned over to Jack Saban. He's got news, traffic,
and weather. Hey, Jack, welcome back to the John Sanchez
(20:25):
Show on Newstalk seven to eighty KHICH with Jason Gun
once again. We finished up eighty one on the Dow,
game two fifty three on the Nasdaq, can hire by
forty six on the SMP. Well, hopefully today's gains built
your wealth. If not, Hey, what can we do to
help you out? And that's what we're gonna move into. Now,
what separates people that have wealth versus those that don't.
So Jason and I have comprised a list of about
(20:46):
seven things that we see with wealthy people versus those
that are not. And so let's start. I'll take the
first one, Jason, I'll start with the first one. Folks.
This is again, this is so much mental that we're
gonna go through with you. Number one, the wealthy person
focuses on assets, not just income. So what I mean
by that is wealthy people prioritize acquiring income producing assets,
(21:10):
right cash flow? How do we do that? They acquire
real estate, they build businesses or buy businesses rather than
trading time for money. And you know, let me tell you, folks,
if you ever are bored, go to YouTube and there
are some incredible videos about wealth building and what's called
silent wealth and meaning those that have wealth and they
don't like to show it versus you see all these
(21:32):
these posers on YouTube, you know, all the young kids
with the bling around their neck and they're living in
the multi million dollar mansion. And Jason, I always think of you.
It's like Oh yeah, I just made you one hundred
thousand dollars day trading four x options today. Look at
my Lamborghini in the park in the driveway of my
multimillion dollar house. Yeah, on and on a bunch of crap.
Then you find out the only way they're making their
(21:52):
money is they've got about two thousand people paying them
a couple hundred bucks a month to get their quote
trading secrets. Right, you know and I you know I
both know how well that goes.
Speaker 2 (22:00):
You are the trading secret.
Speaker 1 (22:02):
You are the trading secret.
Speaker 2 (22:03):
Yeah, got my position.
Speaker 1 (22:04):
Yeah, that's right. That's right. So, in all seriousness again,
when you start building wealth, you start to realize time
is your biggest asset. It's not the cash flow, it's
not the paycheck, it's nothing. It's time. So you start
looking at it and go, Okay, what is the best
(22:24):
use of my time? This guy on the other side
of the microphone is a great example of this. Jason,
you are great at delegating things. I'm getting better thanks
to you. You are great at delegating things. You always
put a value on your time and go look at
if we can have a staff member do this, or
hire someone else to do it. That's the way that
you have to do it. And that's a really hard one.
And especially I've admitted this has been one of my
(22:46):
biggest weaknesses is I've built this business and then you
come along and you've taught me, wait a minute here,
that's not a good use of your time to be
doing that. That's one of the hardest things when you're
an entrepreneur because, as you well know, you do everything
yourself right. You're taking out the trash, you're washing the windows,
calling your clients, you're doing da da da da. And
you're used to doing everything yourself. But you can't do
that if you want to build wealth.
Speaker 2 (23:06):
No, And I mean I think, like you said, the
only real fixed asset is time. And so you know,
I'm not one that just like delegates everything that.
Speaker 1 (23:15):
I do tho.
Speaker 2 (23:16):
It's more of what hire people that are good at things,
or train them to be good at things, and then
let them go be good at them, right, Like I
find that that managers fail at more often than not,
and especially entrepreneurs who started out doing everything themselves. Is
letting go of things, right, And that's not a bad thing,
(23:38):
Like you did well at it, but again, you only
have so much time. My job is to position someone
to be successful. Be here, to be bumpers around the
edges if they have questions as they're learning, but let
them go own that thing so then you can go
focus on what you need to be good at. And
if they fail, you know, you help them where you can.
(23:59):
And maybe sometimes they're not the right fit. But over
time you'll find that, you know, letting people go out
and do what they're good at allows you to go
be good at what you're good at. And that's how
you have the ability to grow your wealth because now
that thing that was, you know, right in front of you,
you've got all the time in the world to spend
on it. And that's where the gains really happened.
Speaker 1 (24:20):
Absolutely absolutely. The Sun interview, I think it was yesterday.
What was that hot ipo on Friday? Fig right, pigma figm. Yeah.
And this, you know, I don't know how this how
old this kid is like late twenties, I think. And
you know, all of a sudden, this company goes public.
Kind of paid his price. I mean he almost went
(24:41):
bankrupt a couple of times building the company, but they
just went public on Friday, and it was one of
these instant you know, I'm now worth five point six
or six billion dollars and a very humble guy, et cetera.
But it's exactly to your point. He's like, you know,
I had a hard time building this business. The best
thing I ever did is hire people. And I always
say this, hire people that are smarter than you, and
like you just said, let them, let them do it,
(25:03):
let them figure things out, because, folks, you're going to
find out, especially if you're an entrepreneur, there are a
lot of people that could do things a lot better
than you as the business owner. If that's how you're
building your wealth, you need to focus on what you do,
which is what I really truly enjoy the most nowadays,
and that is how are we going to move forward? Right?
Here we are today August the sixth, Where are we
going to be August six of twenty twenty six and
(25:24):
August six of twenty thirty. That's the job of a
leader and of a CEOs to position the company to
start to move forward. Right. You never can just sit
on your laurels. But the bottom line is, you know,
personal wealth. Back to that topic, The goal that everybody
has is you have time, right how do these people
here Corey talk about some of his clients that have
massive real estate portfolios. We have clients that make pretty
(25:45):
nice sums of money from their portfolio that enables them
to not trade time for money, like those that collect
a paycheck. Right, you're really just trading your time for money.
But the wealthy, their time is everything. So they want
assets that are producing income and they really don't have
to do a lot. And so that's really one of
the big biggest thing is focus on the assets, not
(26:07):
just the income side of things. Jason, Let's go to
point number two. Think long term. That's what the wealthy do.
The millionaires they play the long games. The billionaires they
play the long games. They delay gratification, invest consistently, make
decisions based upon future value, not short term emotions.
Speaker 2 (26:26):
Yeah, I mean the tough part is a lot of
times it's generational, right and if especially if you're looking
at looking to grow you know, your portfolio, your family
portfolio over time. It takes time, right, And so with anything, sure,
you can do the get rich quick, or you can
watch one of those bozos on TV day trade you know,
(26:47):
three ex levered options and blow up, or like I've
talked about a bunch of time. If you've got any
sort of strategy, be it trading or otherwise, you need
to test it. You need to see, you know, is
this really something that works or did it work once right,
or maybe it worked twice but the other five times
it didn't. And so with everything you need to put
(27:10):
your time into it in order to get a fruitful
benefit in the future. And it's a long game. It
is not instant gratification like you've talked about before, grinding
and grinding and grinding with all the entrepreneurial you know decisions.
Eventually one works and it works, you know fast, but
you got to stumble and get back up. So it's
just it's not it. It's it's something that you have
(27:32):
to just know that early on. Just like a startup
tech company. It isn't oh my gosh, I made all
this money quick, I'm gonna spend it. All that money
needs to go back into the business. And sometimes that's
a struggle for a lot of people. They see this
money come quick, they blow it all and then you
get the cycles. And any good company can withstand cycles.
(27:53):
So yeah, it is very much a long term game.
Speaker 1 (27:56):
You bet all right, well, come back with point number three.
They see problems as opportunity. Tell you what we mean
by that. Let's wrap it up with Kristen snow Right
out Traffic Center. Kristen, Welcome back to the John Sanchez
Show on Newstalk seven eighty k oh. If Jason and
I and our team can be of service to you
and your financial slash retirement planning needs, we'd love the
opportunity to talk to you show how we do things differently.
(28:18):
Call the office at seven seven five eight hundred and
eighteen oh one. Go to our website Sanchez Gaunt Gaunt
dot com. Sot an appointment there, Jason, I get a
memory and don't forget pick up our podcast. Jason, are
you watching what Apple's doing in after Hours? Yeah?
Speaker 2 (28:32):
It's strong like bull.
Speaker 1 (28:33):
Yeah, it's up three percent. Yeah, finished the day at
up ten dollars and thirty six cents. Now what sixteen
dollars and ninety six cents went from two thirteen twenty
eight in the regular set now to nineteen eighty eight
that on that chip news Wow, amazing. Yeah, I mean
it's still got a big new for that suck.
Speaker 2 (28:51):
Yeah, I mean it's still got let me see breakout wise,
I mean, I think it through here. You've got pretty
thin air up to you know, call it to eighteen
to twenty level, and then you know another real big
resistance level around two forty. So the stock's not at
all time highs, whereas oh knots of the other technology
companies are. So I think it's a bit of a
(29:12):
bit of a chase, especially given how big of a
weight it is, and probably as big of an underweighted
as it in many technology portfolios. Is Have you think
it's an underweight oh, one hundred percent?
Speaker 1 (29:24):
Yeah, really, yes, for sure.
Speaker 2 (29:26):
I think it's a it's a short inside of a
tech portfolio, people with short Apple versus long other stuff. Yeah,
it's just you know, it's that over expensive not growing
like in Nvidio and Semis and things like that. It's
definitely been a perennial short for a long time. But
who knows, maybe this changes a little bit, and that's
why stocks move five percent and three percent after hours
when there's like shortcoming.
Speaker 1 (29:48):
So yep, finished the dates down to your point, down
fourteen point eight four percent year to date fifty two
week high on December twenty sixth of last year, two
hundred and sixty dollars and ten cents. Again, it's a
to nineteen fifty two. So yeah, it's got a ways
to go, but heading in the right direction. That'll help
out the doubt side of things and being a doubt sure. Yes,
(30:09):
all right, let's go back to our topic, how to
think like a wealthy person. So number one, they focus
on assets not just income. They think long term. Number three,
they see problems as opportunities. Right, this is one of
the greatest traits that a person can have. Instead of
avoiding a problem, instead of avoiding a risk, what do
they do? They manage it? Right, Challenges are puzzles to solve,
(30:31):
not reasons to quit. And especially again those of you
that are going to build your wealth or with real
estate or assuse me with a small business, you will
always always have challenges. There's never a day that goes
by that there's not going to be a challenge to
put to your test. But again, they don't see it
as a problem. They see it as an opportunity. And
that's why, frankly, so many of these entrepreneurs that have
(30:51):
started tech companies there was a problem somewhere that they
found a niche, right, that's how to create a successful business.
You find a problem, you create the solution, and so
one of the best traits that you possibly can have.
Let's go to number four, Jason surrounding themselves with other
successful people.
Speaker 2 (31:07):
And we talked talked about that A bit right mindset
is important too. Right, when you're around someone who's always
negative and always looking at the downside of things, it
tends to proliferate through a company. Right. You need folks
who can look at the bright side and not just
serial positive like I'm on drugs, but you know someone
who can look at Okay, here's an issue, how do
we fix it? Right, that's a better way to say,
(31:28):
there's an issue where we're going to fail. Right, And
I think you know mentors, coaches, peers, those are always
good to do and invest in your time outside of
your industry, right, other people can have interesting ideas. You
hang out with the same investment advisors all the time,
you're going to hear the same stuff. You want to
get around people that have a different point of view.
Speaker 1 (31:46):
Absolutely, not just yes people. Yeah. Number five, they prioritize
learning and self improvement. That's pretty self explanatory. The automate
and delegate, one of Jason's favorite things. Create systems and
policies and procedures right time again, it's their most valuable asset.
They want to outsource low value tasks to focus on
high impact decisions and strategies. That's what you're getting the
big bugs for. And then lastly, they think in net worth,
(32:09):
not in paychecks. Instead of asking geez, how much did
I make this week or this month or this quarter,
they ask how much am I worth?
Speaker 2 (32:15):
I e?
Speaker 1 (32:15):
Your personal net worth, your wealth, and most importantly, how
can I grow that? So I'd say, if there's one
thing that my dear friend and I want to have
you walk away with is this. Don't you don't have
to be wealthy to start thinking like the wealthy, right,
You don't have to take these as your beginning steps.
Start building on them. Do one of them a week
and watch and see what happens. It will work, folks,
I promise I have faith in all of you. God
(32:37):
bless all of you. Thank you for joining us today.
We do appreciate it. We'll do it again tomorrow on
the John Sanchez Show. Have a great afternoon, Jay, We'll
see everybody tomorrow. Please pro durbye sanche has gone to
Capital Management LLC. The material in this program was intended
as general information only and should not be taken at
specific investment, tax or legal advice. None of the information
on this broadcast was intended to be a solicitation for
(33:00):
the purchase or sale of any security. Further information is
available by contacting John at Sanchez Gaunt dot com or
seven seventy five eight hundred one eight oh one. John
Sanchez offers securities and advisory services through Independent Financial Group LLC,
a registered broker Dealer and Investment Advisor member FINRA SIPC.
Securities offered only in States. John Sanchez is registered in
(33:23):
Sanchez Gaunt Capital Management LLC. In Independent Financial Group LLC
are unaffiliated entities.
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