The 5 Things That Will Make You WEALTHY In 10 Years | Dave Ramsey & Lewis Howes

you are an example of what you do consistently every day year to year decade after decade playing the long game of what you can create in the physical world and I think that's a good representation of what I've learned from you about Building Wealth over time it's not about doing it quickly it's not about trying to find some scheme that you can get into and build this overnight but it's about doing the consistent Integrity things over time to build this type of wealth so again it's just inspiring to to thank you thank you very much I'm the ugly tortoise I don't want to be the hair but you're consistent it's amazing it's amazing you just keep showing up and doing the wise the wise decisions and I think that's what a lot of people are missing out on today especially Millennials today I feel like they're just making decisions to look good as opposed to feel good long term as opposed to have safety of as opposed to having security and Building Wealth and a lot of people are just in debt I'm curious I love your your seven steps I love how often do you guys just say it over and over again um but somehow how people just seem to miss it and and not do the steps and it hurts them I'm curious besides the steps the seven baby steps what are what are a few things people can start doing to increase the odds of wealth over time to increasing the odds is it something mentally they can do spiritually they can do is there something in their relationships they can do differently to increase the odds well I think the first thing is um you have to have uh I mean we were sitting in one of our leadership team meetings yesterday as a matter of fact here in the at Ramsey and we were looking at a business unit and they kept going we need to do this we need to do this and we did not have agreement on the the Baseline data of what was actually going on one person thought one thing was going on one thought another was going on and we I said we got to back up we got to put data in front of us and once we all agree on exactly where we are then we can discuss right where we're going and I I think um you know Building Wealth or having a high quality life in any area is a little bit like that you need to back up and say okay what are the principles before I worry about the tactics and the principles should lead us to the tactics and the the five money principles if we wanted to pull some out there would be common sense biblical things that are kind of boring but if you lay those principles in place then they'll lead you to the tactics I mean here's one live on less than you make right now that sounds kind of almost uh glib you know but the Bible says the borrower is I mean it says it says a foolish man devours all he has live on less than you may uh you need to be on a written plan in anything you're doing if you don't do it intentionally it's not going to occur no one wins anything accidentally it's an intentional act winning always is it marriage at taking care of your body building a business you know money no one accidentally gets wealthy it just oh what happened no one does that so that's a written plan that's called a budget you know and so we got to have a budget we got to live on lesson we make if you get out of debt mathematically what it does is you have money to invest because when you have a 750 payment on your at Ford F-150 you got no money right and so that money's going to forward instead of to you it's not going in your 401k and so that's what the borrower is slave to the lender means but also what happens when you get out of debt is you have this sense of Freedom you have this sense of autonomy the sense of agency uh you're not being controlled by the man uh stinking Bank of America it doesn't tell you what to do Ford Motor Credit doesn't tell you what to do so you don't have to keep a horrible job you can move to a better job and take that risk but if you've got to pay payments you you don't feel free and so you know being out of debt living on lesson you make having written plan obviously saving and investing obviously in the house of the wise or stores of choice food and oil grandma said have money saved for a rainy day we start with an emergency fund and then we long-term invest yeah in the largest study of millionaire has ever done in North America we did it here at Ramsey we discovered that the typical way someone gets their first one to five million is they have a paid off house and they have a really healthy 401k or Roth IRA combo in good mutual funds and so they'll be sitting there with a million dollars in in their in their retirement accounts after 10 12 15 years of doing this and they got a half million dollar or 700 000 paid for house so they got a 1.7 million dollar net worth and so save money save money and the weird thing is that there's no uh all the get rich quick stuff on Tick Tock and all that it is all crypto and everything everything there's always some way there's there's a new version of stupid every year you know and uh but but why is it go ahead go ahead don't go ahead why is that so enticing why do so many people jump into that with all their money or all their savings or take out debt just to invest in the 17 new things a year that seem like one or two people actually made a few million dollars but probably end up losing it a year later why does that such an enticing thing for people who work so hard of making their money well taking the Long Haul being the tortoise versus the hair is not human nature right our brains are wired by God for efficiency you know we we want to burn the least calories possible to get the job done whatever it is which in the financial World causes us to look at get rich quick and and we don't think of it as stupid I didn't think of it as stupid when I did it in the 80s and but you know I I started with nothing had four million dollars worth of real estate lost everything because I I borrowed too much money on the real estate and crashed my own life down on my head I didn't think I was being foolish foolhardy impulsive I thought I was burning the least calories to get to the goal yeah you're being smart I thought I thought this is the way to go and people that are buying crypto that's what they think I mean no one thinks they're gambling they don't think oh this is has worse odds than a roulette wheel which it actually did mathematically you know but but they didn't think that they thought this is the least calories to burn to get to the goal so that's just the human brain doing what it's supposed to do we're just efficiency experts all the time and everything we do what's the least effort to get to the go how how often does someone when they know like hey this is a big risk investment this the chances are of you making you know 10x you're on your return in one year or six months is so slim or 100x returns in two years is so slim but why do people sometimes go all in on the money they have or 90 of their money on things that have a one percent chance of actually getting more than a double return within a year well there's two reasons one is they don't believe there's only a one percent chance uh they they believe again it's the most efficient way to get there I didn't think that there was a high probability I was going to fail doing nothing down real estate I did not it never occurred to me number one and then number two pride comes right before the fall there's an arrogance I I was smart I understood that the debt knocked over some people I understood that sometimes people got in trouble but I thought oh I can do this I I'm smart enough 26 years of your wisdom you could that's right man after 24 and a half years in a college degree in real estate by God I can do this you know and there was that in there that arrogant little twerp you know he was there and so there's a combination of this pride and that then leads you to again these principles that lead you to bad tactics or principles that lead you to good tactics yes and the principle was a bad principle that I was functioning in and uh you know just put a little icing on the cake of a little pride a little arrogance that says oh yeah I know I know that for that guy but I'm really good at math and I grew up in the real estate business and I know I know things just just ask me you know and and that you see this you can actually see that dripping off of some of the stuff that's posted on the get rich quick style stuff that criticizes you stuff that criticizes me stuff that criticizes our friend Craig groeschel or whoever I mean you can see anybody that's playing a long game or you know Simon sinek's infinite game right anybody's playing along game the short-term thinkers all have to pile on and there's always that dripping arrogance around it I can't recognize it because I was the same guy I did the same I would have been the guy trashing that guy I would have been the guy treasuring me when I was 26 because I would have been going no that doesn't apply to me yeah I understand Ramsey but that's for regular people I'm smarter than that I'm not regular people yeah you know so there's that in there so we got we got get out of debt we've got live on listen you make we gotta have a budget we gotta save and the last one is need to be outlandishly outrageously generous and walk around with an open hand what does generous mean for people that feel like they're struggling to live their own lifestyle of going out with friends once a week or having a dinner every couple of weeks or just doing you know some basic activities to enjoy life beyond free activities how does generosity look like for those individuals see generous is not an action generation is a character quality and like Integrity it's a character quality that you choose you're not born with it it's not as it's not installed you have to say I am a generous person as a friend as our friend James Clear says he says our habits come from our identity so change your identity and your habits will follow right the whole essence of atomic habits isn't a selling book and and it was wonderful material yeah and so the uh uh but but I am a generous person okay now what does that mean yeah there's obviously a money thing that might mean I give 10 to my church a tithe that might mean I pick up the bill at dinner uh it might mean I look across the room and someone's wearing military fatigues and I buy their lunch uh it might or a policeman or a fireman or a nurse you know I'm in Scrubs I might that might it might mean something that simple tactically but it could mean I just opened the door for something yeah A Generous Heart It could mean because here's the thing we all know the difference in a taker and a giver we know the difference in selfless versus selfish when you hang out with self-ish people you feel like you need to take a shower when you're done you know and when you hang out with selfless people so I can just decide to do that I don't have to lot of money because generous people are highly attractive not because they give you stuff but they're highly attractive because they're that they and they're very seldom depressed they almost always have a a positive outlook and they don't have a scarcity mentality they have an abundance mentality it and all of this is just a decision I I just I'm gonna instead of being but but what happens is we become overwhelmed with the financial stress and we turn it in and we become Naval gazers worried about me me me me me me me because I gotta take care of me me me me me and if I don't take care of me me me the lights get cut off and it doesn't take much margin to push all of that back as a decision and just say no I'm gonna leave a tip that's outlandish you know I watched a guy the other day Parker Mercedes he was pulled up in a car I know the car because I looked at it one time it is 140 000 car and he hands the valet five bucks like dude this is Ferris Bueller's Day out you just gave the guy five bucks to park 140 000 you are out of your mind right that's a lot that's a lack of generosity that could really cost you I want them taking care of Mr Ramsey's car right like it's their daughter you know that's the tip I want to leave yeah for selfish reasons hello you know protect your car exactly I'm curious what was the what was the most generous year you've ever been financially you don't have to say how much you gave retired that year but what was the most you ever gave back in one year can you remember that year yeah yeah it was your before last um because I had a goal I I met this I've been hanging out with these generous guys these guys that have a lot of money and gals and trying to learn from them and one of the things I learned is the intentionality behind their generosity they're very careful they they do large gifts as if they're doing an investment really they do due diligence can you explain well they do dealings on the organization uh you know if they're wasteful they're not handling money well they don't treat their people well behind the scenes 89 is going to overhead and 11 is going to Hungry children then you know this is a problem that means I mean somebody's got too nice a car in a pile right and so uh they're they they investigate and go into it that's one thing they do on large gifts and two if you've got an organization that's weak and their their money is struggling and you give them too much you can destroy them really much like a lottery winner right ready for it mentally or emotionally they don't have a character to carry it they don't have the processes and the systems in the organization in the in in the non-profit of the ministry to carry it and so you can actually you know you go into a church of 30 people and you tie the million dollars you can ruin the place so what questions should you ask an organization a church or a foundation that you want to give a big sum of money to of money to what questions should you ask the leaders to know that they have a mindset capable of managing that much money because typically if you come from not having enough and that's how you've always been and then all of a sudden you get more you may not be ready for it right so what questions should we ask before we make those Investments and give that generously to know that okay this person is actually at the right stage of their life to handle this big lump sum of money yeah and and I'm and all the donors that I'm going to bring them the um my daughter Denise runs our family foundation and was all the Ramsay philanthropy and the thing that she and I have agreed on in that is I want her to approach the ministry like we are Venture capitalists and we're going to buy them like looking at their books I'm gonna buy them yeah I'm gonna buy them I want to know how they're running the place I want to know their HR issues yeah I want to know their systems and processes for growth I want to know how they manage things how chaotic is it how is their accounting systems in place um I I want to know the uh delivery mechanism of the actual goal of the ministry again feeding hungry kids how are we feeding hungry kids what's that look like what's it cost per kid uh how many kids do we feed and what's our goals and what's our vision for that and just like you're buying it and uh and then you can come alongside them and partner with them and we're not trying to take them over we're not trying to run them don't want to do that that's their Pro that's God gave them that to do not me not Denise but but we're going to approach it that way as due diligence and then that gives us a different set of eyes and here's what's weird because we teach leadership and because we run a large business uh we actually can help them sometimes yeah by advising them and say you know what if you would just change that a little bit then we could change our giving like this and we're not trying to tell you what to do we're not trying to bribe you but we're just trying to come alongside you and love you well help you you know increase your capacity increase your efficiency for the goals that God's given you to do here and and it's a lot of fun it's a lot of fun and so it changes our mindset of just instead of like we're going to throw some money over the fence hope it all works out uh if we come alongside them as if we're buying them or if we're a venture capitalist and we're going to partner with them or something like that then we're going to bring our advice so obviously then the Ramsey Family Foundation does not give to Ministries that borrow money obviously right right that's a deal killer for us yeah that doesn't have to be for everybody but we teach people not to borrow money why would we then give money to someone who's borrowed it's kind of dumb right so we wouldn't do that so but back to the other thing I I my goal was I saw one guy he gave away a million dollars in a year that would be very very cool to figure out a way that we've and many years ago we were able to we were able to do that the first time yeah many years ago and and then I thought what can we do next I want to give away a million dollars in a day wow and we pulled that off come on we pulled that off that was so funny it included the gifts to our team for Christmas it included supporting several Ministries simultaneously at Christmas a children's home in the area uh it included buying some stuff for this thing and that thing we did it all brought everybody under this roof here and did it all in this huge celebration one day not the point at us but it was I gotta tell you it's one of the most fun days I've ever had in my life because generosity is fun it feels good too it does it's a blast it's the most fun you'll ever have with money now you said I think you said the year before the last was the most that you gave yeah um that was that million dollar that was it okay so so essentially like a year and a month ago or something right is that what it was like I guess sure year and a half ago or something like that I'm curious um every uh every individual that I've interviewed or talked to you know 10 plus years my senior um they all talk who I really admire they all talk about generosity and giving and making it something you do early on in your life in any way capacity that you can and giving more and more the more you are able to to give more and they say the thing that always happens is I always make more when I give even like a little bit uncomfortably when I give more than I think uh can I really do this the next year always becomes bigger I'm curious was the last year one of your biggest years no no no but it will be it will be over a decade yeah yeah I mean because I I mean we're being impacted by outside variables like everyone right I mean we got supply chain is affecting the economics are affecting energy costs are affecting hiring cost of Labor is affecting us everything yeah so now we're we're actually not up uh immediately following that but I am a hundred percent convinced that over a decade will be way up yeah because I've done it before I've stretched and done it before done unusual thing had the celebration with no thought of the return Yes you know if you do it with a thought of a return then that's you telling God what to do that doesn't work he's thinks he's God so that won't work right um but the uh this idea that that um again generous people are just more fun to do stuff with they're more attractive they're more fun more attractive and you just end up having opportunities come I mean think about it in a simplistic way let's say you were a leader in an organization and you had two people working for you vying for a promotion and obviously what we're going to do here one's the selfish look like he's weaned on a pickle you know and and the other lady is she's generous and she's kind she's always doing she's always stepping outside of her own job description and helping someone else get the project done and not taking the credit for it who gets the promotion of course of course and it's not because you know it's not because you're somehow beholden to her for that it's just that's who I want to work with every day people with good attitude excite me I don't want Mr weaned on a pickle hanging out I don't want to hang out with this guy right you know he's awful it's awful you know real quick I got a question for you what if I told you one of the key secrets to making more money has to do with your mindset I've spoken with some of the most successful entrepreneurs investors and thought leaders over on the school of greatness podcast over the past 10 years and there's no doubt about it your mindset absolutely matters and that's why my team and I created a quiz to find your money mindset for you it's totally free and it's a valuable way to understand your own unique perspective about money abundance and Financial Freedom so if you want to learn more about your money mindset click the link to get started right now what do you think happens to people that never give that they just earn for themselves or they keep it in their business and they only put it back in their business but they don't think about giving outside of the business I think their growth is stunted really but you know it to me again it falls in the same category as Integrity what happens to someone who cuts Corners you can you can win you can prosper to a degree but all the data tells us and and all the life experience tells us that the people with fanatical levels of Integrity are the ones that do the biggest stuff right the crooks really don't get ahead at the end of the day the people that are selfish they can they could get some stuff done but the people that are selfless they just have a tendency because people trust them that trust Factor comes in things move at the Speed Of Trust as they say and yeah all those things come into play and and you just don't become all you were designed to be the other thing that happens with generosity is your creativity increases yes because you're releasing chemicals that you don't release when you're selfish your productivity increases uh your Rel the quality of your relationships increase I was speaking at a little Baptist Church in Kentucky one time beautiful little church and the guy many many years ago and the old pastor had been there for 40 years and I did a tithing lesson hardcore you know Baptist tithing lesson which I love and uh the guy came up afterwards and he goes well you left one thing out sure Pastor I mean you've been doing this longer than me what'd I leave out he goes you know I've been doing this 40 years I've never had a tithing couple in my church get a divorce and I went why because The Tide Is Magical because some people think that in Christianity you know because I don't think that he said no because when you're unselfish with your money you're unselfish with your wife um and you're unselfish with your husband and you serve each other in the marriage if you're serving the community with your giving it's the same same muscle and he goes you're just you're just easier to stay married to when you're when you're tithing when you're getting when you're giving when you make giving a standard part of the rhythm of your life you build that generosity muscle and it affects every relationship you're in particularly the key relationship in marriage it changes the way you parent you know because if you don't give in one area if you're saying I'm going to hold back my money and I'm going to keep it here you're probably not going to give generously to your spouse or to your kids or to your friends or Community right because it's a character quality interesting you know it's like the guy that says ah well you know I hate the IRS I hate taxes so I don't really put everything on my tax return okay so you're a liar man you're a cheater where are you going to cheat me uh and what that's what I started thinking I don't I'm not impressed I pay I hate taxes but I pay every stinking Penny not because I believe in taxes and not because I'm scared of the IRS because neither one of those things are true but it's because it it says something about me I gotta look at me and that's a that's an Integrity issue it's a every penny every cash sale of a book on the back table goes into the accounting system and we pay freaking taxes on it I got audited not long ago I paid precisely zero wow in the audit we were so stinking clean and it's not because I'm scared of those dupers because I'm really not they're a pain in the butt but I'm not scared of them it's a matter of Integrity is integrity is integrity is integrity generosity is generosity is generosity is generosity these things this stuff these are character qualities of the successful people that I've met yeah that's beautiful speaking of marriage um it seems like money affects marriages a lot I'm curious what or it could Empower marriages or could it hurt marriages if not handled properly I'm curious if you were to give advice on some a couple dating for you know a few years looking to get married what are a few questions they must have and align to about money that might be uncomfortable to have those questions but will actually get you clear on hey are we the right match in terms of our money mindset in terms of what we're going to do with money for the next and maybe you have this question in the first few months of dating you don't wait two years but what are those questions that people should be asking before they align with someone romantically long term well there's a couple things to think keep in mind I'm talking to a young couple about this and I do often in a marriage seminar or something like that is our pre-marriage counseling session or something like that um the number one cause of divorce there's money fights and money problems out there the stress of money and the arguments over money okay and so if you said the number one cause of death is getting killed by a bear on the way to the mailbox right then you would analyze how not to get killed by a bear on the way to the mailbox yeah right and so if you're going to get married you should really look at the number one freaking thing hello this is the number one thing that that either hurts or ends marriages yeah I'm hearing yourself yeah and the odd thing is is it's actually circular it's an infinity loop because it feeds back on itself meaning that it also the quality of your marriage is a high data point indicator as to whether or not you build wealth yeah and and so a very few people drag a spouse Kicking and Screaming into millionaire status you know it doesn't I mean it doesn't happen by accident you know so I'm I'm bringing the princess with me right come on baby and put you on my back we're going to haul you over there it doesn't usually work okay or I'm bringing the guy who's here who's lazy and won't work and I'm gonna outwork him and the lady says and and he's a little boy and I'm gonna be his mommy and I'm gonna drag him all the way into millionaire status not working baby right so it goes both directions but so that that's thing one if it's the number one cause then yeah it ought to be something really you discussed so preventative maintenance right yes you know it's uh uh you know preventative health if the number one cause of death is obesity we probably ought to think about obesity you know I'm curious then what is what is a what's a question uh a woman at should ask to her man you know within the first few months of dating about money where she could get a sense if he's fully honest in Integrity with what he's saying and not just saying something to make her you know feel happy what is a question she can ask to feel like okay this man I'm dating and courting and we're getting into this life with I feel like I can trust him with money for the future yeah well money is a reflection of our values how we handle money and that's another reason that it's very important because if your values are not aligned you're going to struggle in any relationship but certainly in a marriage relationship and so um you know talk about the basics of money debt I love that gonna use it all the time you know I want zero down everything I'm gonna buy a zero down truck I'm going to buy zero down stereo I'm gonna buy zero down couch I'm gonna put nothing down on the house um and you hate that okay we got a problem we're gonna have to work through this or we're gonna have to this is a deal killer okay how about saving I don't think I'll save money you know you can always go get you something I always thought you could out earn your stupidity I tried that for years didn't work you know so my wife however is a natural saver right so uh when I joined her Club is when we started winning yeah you know so bless her heart she didn't know this is going in but I made a hard hard life for her the first seven years but the uh uh so saving and debt how about generosity I don't believe you ought to give if you give you end up with less it's mathematically factual yeah which it is actually but that's short-term thinking that's a finite game instead of an infinite game again using Simon's premise on his book uh and so General the things we just talked about how about how about living on are we gonna live in k Josh are we gonna live with a plan yeah I want to live with peace or chaos are we going to live with future minded or YOLO you know only live once thank God it's Friday I'm living for the weekend our marriage our theme song is Huey Lewis in the news right I mean come on is this us and if it is then you know because this what's this tell you anyone that lives short-term thinking we know they're emotionally immature yes spiritually immature and so you're marrying someone or you're dating someone that's emotionally immature and they're fun they're always fun but they're but it's not fun in the long term because it brings about stress the fruit of this is nasty and so now do we have to be perfectly aligned on all those things no we just need to understand where the other person stands and are they so far over away from us that it's a deal killer yeah because my wife is more of a saver than I am by Nature I had saving for me is an intellectual act a spiritual Act of my will it is not a natural Rhythm okay she naturally saves everything The Leftovers in our refrigerator are grotesque I mean it's just I mean you know she saves everything so but so to the extent that I can stay close to her on that then we've got Harmony um we have both obviously with what we've been through agreed no doubt right we are both plant have become Planters over the 40 years of marriage I've always been a detailed planner so I had to get her to join me more on that so you know but it's better if you're doing on the front end than the way we did it it's a lot harder the way we did but kill each other so you want to be in agreement on that and all the data tells us on marriage and divorce statistics and we've studied this for years is number one cause of divorce money the other three if you can be in agreement on them religion mm-hmm kids whether to have them and how to treat them and how to deal with crazy people in your extended family your mother-in-law and your crazy brother your lazy brother who does cocaine and whatever it is how you gonna deal with how to manage it all yeah how to manage boundaries with extended family and and you know if one of you thinks that children should just be let run wild and the other one is an over disciplinarian uh we're in a problem or I want no children and I want 17. that's going to be an issue or I don't believe there's a God and I think anyone who believes there's a God's an idiot oh by the way I think there's a God oh see this is a problem because now I'm an idiot so there you go and so these are the things but if you can because all of these things are representative of your values and what your beliefs are so when you can agree on your money what you've ended up agreeing on is your dreams your fears your Visions you're in agreement you're in alignment on those not only what they are but how we're going to go after them then and now you've got real Harmony and you've got a high probability of Building Wealth that's the odd part of it that's the infinity low pack comes back in on itself do you think love is enough if you have Religion kids family boundaries kind of all in alignment in in harmony but money is completely apart but you love each other you've been building this life together for a year or two and you're like should we get married or not but we are so far apart one's the fun and undisciplined person one is the extreme saver and you know detail-oriented plan in person is is love enough to have a successful long-term healthy marriage if money is not there uh I I think you've got to be close you don't have to be exactly aligned but you got to be generally think because the problem is this resentment is going to set in and resentment will kill love yeah the eye roll when you roll your eyes that's the beginning of the end right this is that called The Four Horsemen exactly got Four Horsemen of the Apocalypse yeah let's parent teachers about that and that's some standard John gottman background stuff but that's one of the four and that's the big one by the way of the four is um yeah and and so you know if he won't work he won't keep a job because he just doesn't think that that's that big a deal it's not not a problem eventually you lose respect in the eye rolls yeah and that's the beginning of the end that's one of the the most the largest of the Four Horsemen by far so if you can't keep um now again my wife and I joke about our differences on Saving right right uh but they're not that far apart sure I mean and I we freely admit hers is a natural Rhythm mine's a built-in I had to decide to do it because I see the benefits of it so I intellectually will it um it's against my deal I don't like it yeah I really don't I mean the only reason I save money so I can give more and have more yeah the only reason I don't do it because I get joy out of saving money zero right you know but I can give more and I can buy more yeah those two things so there you go but uh but that but that again that at least we though are in alignment that saving is important even if it might be for two different reasons if I absolutely believe it was ridiculous to keep any money saved and she had to have some money saved to have peace because she's constantly in anxiety because there's no rainy day fund then that's going to eventually tear up anything you do sure what's the difference between saving and investing at your kind of scale or someone who's you know bringing in over a million dollars a year in their business and they've got some extra cash what is the difference between saving and investing is there a difference at that level of like okay some money is just saved in a you know an account and others are invested in different areas saving's just short-term investing is long-term okay pretty simple and you can Define what that is but I generally eat things three years and less I'm just saving the money I'm really not putting it in something that's going to be going up and down got it because I I need the money there right you know uh and so I've got to have them access to it so it needs to be it's not going to earn a lot but it's stable investing I can ride a wave because I'm playing a long game how what's the percentages of saving investing that people should be at well you should have an emergency fund personally of three to six months of expenses the standard rainy day fund past that you need to save up and pay cash for whatever you're purchasing so if you've got a car purchase in your future uh Christmas this year's in December if you didn't know you got to get ready for that and um you know that kind of stuff I thought it was November they move it occasionally but just in case yeah but just in case a reminder and so uh you know you you got those are savings items and then and past that everything else would go to investing you know because basically one saving is for protection the emergency fund and the others for purchases to avoid debt um paying cash for my car paying cash for my couch paying cash for my trip um and those are short-term saving Christmas I'm saving short-term savings items and then long-term saving items obviously retirement kids College general wealth building uh beyond that to do other things and so then I get into at our level now that we make a lot of money we're a little bit mixed up in that we get so much over in the investing pile then a lot of it is not for 30 years from now a lot of it is for six years from now and so I'll throw money over into a mutual fund until I use it to buy a piece of real estate sure or something like that but that's a little different are there different Investments That entrepreneurs should be making outside of their own business versus maybe employees is there different types of Investments that those individuals should be making and how many different styles of investment should they make you know I number One never invest in something you don't understand yeah and that's a mistake people make all the time um number two you should always have an array of Investments a diversification the Bible says in Ecclesiastes spread your portions to seven yes to eight for disaster may come upon the land so don't have all your eggs in one basket we say in the financial world right and so um the biggest thing when we're in our entree leadership we're working with small businesses and we work with tens of thousands of them every year the biggest thing I got a guy heat and air he's got he in their company's got 20 trucks he's got 40 50 employees uh and he's got no Investments outside of his company his own business yeah he's everything goes back into the business and that sets him up for two problems one is he's not Diversified and if that goes south he's completely baked two he's got no exit strategy at retirement because he's got no money and so um it makes it very difficult he has to sell that business that's his only nest egg and so he or she that owns a small business is much better off to also have their own 401K their own Roth IRAs and good growth stock mutual funds and build up some extra wealth and hey go buy a piece of real estate that the business is not in in addition to that outside of the business I mean we've got about 450 million dollars worth of real estate on this campus that's all paid for but in addition to that I've got a whole bunch of real estate that's not this place it's inspiring but I'm not bragging but I mean it's not this place I'm not this investment 100 of our real estate is not Ramsey buildings thank God that would be unwise because then as because if what if the tenant failed well you lost your business and your tenant right and I got a big dad gum empty building over here this is from a real estate investing standpoint that's scary I'm curious you know it seems like the wealthy a lot of the wealthy get into real estate at some point um I I have followed your advice not all of your advice I've made a lot of mistakes but I've followed a lot of your advice I bought my car with cash you know um I didn't understand real estate so I put it in a real estate fund that's okay as opposed to buying it and managing and figuring out how to fix things and deal with contractors and all these different things yeah the REITs are doing good right so I put it in a fund um but I kind of want to get into real estate and I don't know if that's if I should or not I want to because I feel like it's a great asset class for long-term wealth it is but I don't fully understand it because I've never bought investment properties right the well I've been buying property since I was 18 years old mom and daddy were in the real estate business when I was growing up I got my real estate license three weeks after I turned 18. so I've been doing this for 50 years almost I mean I've been around it for 50 years I've been doing it for 40 plus and so the the real estate is very romantic yes especially on Tick Tock you know I mean it's like it can nothing can go wrong it's all great thirty thousand a month in actual fact it is exactly the opposite everything will go wrong right count on it the roof is going to leak I had a refrigerator ice maker bus the other day fled the whole freaking house I got mold and Remediation I got one little house over here it's completely down for six months while we rebuild the whole stinking thing there's nothing romantic or fun about this the renters aren't paying for it crap you know because there's no renters it's full of mold okay hello so this is Life okay so real estate makes more money than other asset classes but has tremendously more hassle oh so I don't like the hassle but how do you manage the hassle you you buy a reed instead okay unless someone else do it because the re some of the some of the REITs are doing very well Real Estate Investment Trust um or buy into something like that where you're doing a limited partnership you own one third you know 133rd or something like that and someone with a long track record is doing a good job they're doing it with low low or no debt and that kind of a thing you go that direction and and here's the thing there's classes of real estate that are less hassle okay Warehouse almost no hassle right because you can you rent those out triple net and the uh the tenant takes care of everything taxes insurance and repairs I've been studying this do you feel like it's better for someone to get into triple net investing versus you know you know single Fam Family single-family homes are the largest hassle Factor right so because there's because there's drama yeah there's more drama there than than in commercial real estate than Office Buildings you get some drama in Office Buildings or in a retail Center I've got some of each but very subtle I mean the workout class guy goes broke in your strip center and there's a little drama but it's a lot different than the tennis stay longer usually yeah yeah and you know they're they're looking at it through business eyes rather than my wife's mad because the dishwasher's out right you know and so there's a little less explosive diarrhea associated with it right so I mean it's just you know but that's emotional but uh you know so if you want to if you know one way to get to to residential would be doing a large number of Apartments like a 50 unit or 250 unit apartment uh and then you've got on-site management handling all that and again you're stepping back and just watching the metrics and they are managing the drama gotcha that work for you and so that's okay too I don't have any Apartments but I'm not against them but again whatever you do with real estate is more hassle even a warehouse is more hassle than a mutual fund the mutual fund you put in there and then you open your email and there it is you know no hassle right no decisions you don't get to make any decisions no one asks your opinion you just get an email you know so it but you're going to make a 10 or a 12 ready return and most of my real estate has an internal rate of return of 17 to 20. including including tax write-offs growth and rent cash flow right with all those benefits are you more into the commercial real estate then or residential we've got a bunch of each but we're probably going to move from the single families over towards more commercial really as as our my son in law runs all of our real estate and he's sick of it there's so many properties the single families they just drive you nuts I mean comparatively to the other stuff and you know would you rather have 10 million dollars in one strip center or uh you know or I don't know 20 houses that are half million dollars oh my gosh I mean right and yeah it's it's different so yeah but hey houses are a great place to start if you wanted to do one gotcha and if you can manage a tenant with a you know in a house you can definitely manage a business tenant a few final questions for you Dave I wish I could talk to you for hours uh and hopefully I can come back and do more of these in the future anytime um but I want to ask you about how someone who has been you know maybe grew up in a family where their parents didn't have the best money values or the best let's call Money principles and maybe just weren't able to save that well you know we're in debt and the kids kind of picked up the same patterns the same habits and the same models how does someone go from maybe more of a debt mindset or a a poorer mindset into an abundance in a richer or wealthier mindset if they've been modeling from their parents if they you know they were used to debt they got into debt early on they got credit cards early on like how does someone switch the mindset first before acting with these steps and actually believing something completely differently inputs no you become who you hang around with and what you read the old Charlotte tremendous Jones quote five years from the day you'll be the same person you are today except for the people you hang with and the books you read so um you know inputs what who are you reading what podcast are you listening to I mean all right here's the thing if you if you want to stay poor and you want to stay in a scarcity mindset watch Tiger King if you want to win at life listen to Lewis on this podcast because it's about greatness yeah you know and tiger King's quite the opposite right so what are you consuming you know are you spending all your time on uh the Cable News Network because I got to tell you they're not selling anything but fear and if you turn the channel one over you get the Weather Channel and the tornado is going to kill you do you know that get a helmet on quick and so oh my God you know what are your inputs and uh I became hyper aware of that during uh this last season we've all gone through with pandemic and all these other things the stress level for all of us that we're carrying responsibility during those days and the fear of people out there I start going okay you guys need to change your inputs because your brain's about to explode with fear and because everybody's just watching the count all day long you know it's like oh my gosh and so I had to really be very conscious to pull back and say I'm not even going to turn on the computer I'm just going to open up a book my Bible I'm gonna go for a walk with nothing in my ears and just hear birds sing you know oh my gosh you got to watch your inputs okay and that's how you change it because a buddy of mine he came out of the hood he said getting out of the Hood's easier and getting the hood out of you and uh you know because you know I remember people I grew up with little man couldn't get ahead you're always going to have a car payment you know the corporations I was with a relative the other day he goes corporations corporations corporations I'm like who are you talking about it's like this evil boogie man that was floating in the air somewhere where corporations and he owns a business I said are you Incorporated and he said yeah and I said you're a corporation you know it's just what is this but it's you know it but it's this little man can't get a head thing if you hang out with those people then you believe it if you hang out with people say take it easy and they mean it then you're going to take it easy yeah and you're going to be mediocre and you're not going to leave the cave kill something and drag it home but but you know what are your inputs who are you hanging with your income is going to approximate the income of your 10 closest friends you need to pick your friends real careful Amen to that and you know your mouth is gonna sound like theirs you wanna have a trash mouth run around these people with trash mouth you'll suddenly be saying stuff like that I've caught myself doing it I'm like a eight-year-old little boy I mimic the people I run with ha I'm curious you've spoken about the Bible a few times um if you could only share one quote from the Bible that you love the most uh what would that quote be what would that line be or that sentence be from the Bible that really speaks to you the most if you had to repeat this over and over and this is the only quote that you could think about or repeat over and over or read what would that be well that's like asking you what which kid's your favorite or something but you know I would have to go all Christian on you and go back to something about you know for God so loved the world that he gave his only begotten son because it all starts and ends there but out of that then they're life lessons all through Proverbs the book of wisdom there's you know the one I put in Total Money Makeover our best-selling book today it is Romans 12 2. be not conformed to this world but be transformed by the renewing of your mind what we were just talking about you know you know don't don't be normal look around you don't be normal normals uh out of control with your food out of control with your money out of control with your relationships out of control with your mouth don't be normal be transformed and how you do that your inputs the renewing of your mind I love that a lot I've been here for I don't know 10 hours in Nashville I landed late last night and uh I've spoken to a few people just getting from the airport to here getting to the hotel and everyone say hey what are you doing in Nashville for I was saying come to see Dave Ramsey and every person I've talked to is like he is so well respected in this community and he does so much good and everyone knows who Dave is in Nashville right and and they also say they also know him around the world but they know him here in Nashville in a big way because of his heart I'm curious with it sounds like 40 years I don't want to date you here but sounds like 40 years in business um that you've been doing business Decades of wisdom lots of mistakes early on and I'm sure you constantly are overcoming challenges what is the the thing that you feel like you need to transform in your life or in business or internally to get to the next level of leadership for yourself to make an even greater impact or to renew your own mind in a way of transforming something that could support you at the next level wow I mean like there's a laundry list that's so long it's ridiculous I mean there's so much work they've still got to do um uh one thing I was working on this morning because it just happens to be top of mind is uh don't sweat the small stuff I get so passionate about everything and sometimes the wrong things and if you travel around Nashville a little bit more you'll find people that don't like that I'll just tell you they don't agree with me on that and they don't like Dave and there's plenty of haters out there believe me uh and some of them are well earned just like some of the respect is well earned and some of it's not right but don't sweat the small stuff yeah really I mean because I do I you know I because everything I die on the wrong Hill too often really yeah because an example of what that might look like is like the little detail that doesn't go the way you want it then you get you know passionate about it or you know if it I was in a church board meeting many many years ago and one of the old guys in there he's like 80 years old we're in there arguing about something about around the church and he gets up and starts walking out we're like where are you going he goes y'all aren't arguing about anything that matters in five years wow and I'd do that I argue about stuff that matters by the end of the day because I I a I like to argue I'm a hillbilly right but B uh I I just I I'm so wired up and over caffeinated and passionate and everything else that um personality style and I just have to it's a maturity thing I have to work on it 62 freaking years old you know I mean come on wow what do you think is the quality that you appreciate about yourself the most oh Lord would it be humility how do you answer that question come on what do you think is the thing though that that you are proud that you have inside of you or the thing that you do consistently that has made a big impact for your life and the people around you I hope somewhere around my Tombstone it says he left it all on the field I hope somewhere around my Tombstone it says he loved people yeah because those are the two things that I believe about myself that again haters don't believe those about me but um I you'd have to ask somebody else to be sure about that right right I love that was there anything that you um struggled with overcoming where you doubted yourself that took you a long time to overcome that doubt and start to believe in yourself yeah I think any time we and there's I'm no exception of this either anytime we make a grave error that does have a large impact it takes some of your confidence and it takes you a while to trust yourself again in that um so like when I went broke it not only I not only lost everything it broke me I was broken I went from the arrogance to the other end of the spectrum to where I really didn't trust my own judgment because I had destroyed everything it was a nuclear landscape you know after that and so it took me a while to trust myself again in money I had to I had to earn my own trust back as well as earn my wife's trust back and earn your money back and earn the money back in the process but I had to put a pattern in my life that was trustworthy that I began to trust first I trusted the pattern and the truth of the principles and later I began to trust myself to apply them but that's a wound from trauma right is what it is and so it's much like I've got a friend who went through a divorce and he doesn't trust himself to pick a wife interesting you know it it hurt he he thought he was a good judge of character and the lady he married was not a good person and it was you know was a mess and so she she messed him over big time and so he doesn't trust he wounded doesn't trust himself again and I think that's the one of the hardest things and in business it's the same thing I trust the wrong people inside the building and then um and then I have to clean up the dadgum mess for the next 18 months you know and and that's my fault and so I got to trust myself on my judgment of the person's character again that's very hard I'm so grateful for your time today you too ramseysolutions.com you've got some amazing books the Ramsey show the Ramsey Network like everything you guys do I love watching the content I love consuming the content I love learning I love the jokes you make on your social media I just think it's hilarious uh and your sound advice that you give people and coaching you give people live so I I really want everyone to follow you you guys have an amazing YouTube channel podcasts everything um do you have a new book coming out soon do you have anything no no I did millionaire baby baby steps millionaires last year yep it was a number one that'll I hope that's my last one for a while now we've got a lot of ramseed personalities books coming out I just read uh own your past change your future I just read that Dr John deloney yes incredible yes I was like he's got a new one coming out June 6th that I was reading the manuscript this weekend I cried three times reading the manuscript it is unbelievably good he's a great writer oh and he's brilliant he is really smart guy he's a wallet smarter than me I recommend that book for sure I read that one as well so I won't be able to get the books I want people to uh subscribe to you everywhere on social media we'll have everything linked up is there anything we can do to be of service to you today oh you have just being here and being our friend and we admire you what you're doing you're just doing so good man you're kicking it you are doing it I love watching somebody go win I appreciate it I appreciate it um I asked you these two final questions I'm gonna wrap it up here in 60 seconds I ask you these two final questions before but I'm curious if the answers are different today this one is called the three truths hypothetical scenario in question imagine you get to live as long as you want to live but it's your last day and for whatever reason in this world you have to take all of your content and wisdom with you everything you've ever created the books the content it goes to another place but we don't have access anymore to your wisdom but you get to share behind a message of your three final truths the lessons that you would share if you can only Share three of them to the world and I know it's kind of off the cuff real quick but what would those three truths be for you people matter stuff doesn't ever saw a Ryder truck following a hearse God is real it'll change your life and I'll go with my own ones don't sweat the small stuff yeah that's good that's great final question Dave what's your definition of greatness service um acknowledge you for being of service thanks so much for your time I appreciate it and thanks for being an inspiration Dan thank you brother I love you man thank you love everybody if you got value from that then go ahead and stick around for more coming up right now why is a time like this a great time to make money well it's a great time to be introspective and to Pivot and to do resets and to try stuff you never tried before yeah because you might as well right we're all sitting at home we got to try something I mean we pivoted a whole bunch of product lines here at Ramsay and all kinds of things and we could throw all these offerings out there stuff that we might have messed around with split tests for a year or whatever instead we just dumped it on the street let's just try it let's see if we can help some people and give some people something to do while they're at home with some digital products and so that's exciting you may have a situation where you hated your job I mean statistics tell us that 68 of Americans hate their job uh and some of you don't have that job anymore so you get the opportunity to get one you like now uh and you might not have done that on your own so this could be the best thing that ever happened to you there's a lot of good that comes out of this much pressure because it forces it forces you to reset yeah it forces you to rethink and uh you know two or three four crisises ago I don't know back I'm an old guy now I I had a personal crisis you know of losing using everything I decided I was never going to be the victim of the things I can control when one of these things that I can't control come at me again and so we got out of that and we built an emergency fund and we were in the last downturn of 2008 we were in a position of we had piles of cash and so I was able to buy real estate at a nickel and a dime on the dollar and it was a wonderful time but there were other times I was broken couldn't take advantage of stuff being on sale but uh if you're in a position you got money right now the stock market's on sale real estate's not moved much yet but if you're buying even consumer items other than toilet paper most things are on sale I know how much how much deeper down do you think this will take in terms of you said real estate's not on sale yet but it probably will be how much farther down you'd think things are to go and for how long with your you know just your guess on this I mean you know weather forecasters and Economist selling people could be wrong all the time and still keep their job so I have no idea but I do know there's going to be a direct Coral relation between how long we stay out and how long it takes us to recover uh no kidding that's kind of Common Sense the obvious is every week that we're out there's another series of businesses that will never reopen then we'll close and so and that's a a recession is two consecutive quarters of the gross domestic product all the goods and services produced in the U.S shrinking rather than growing that's all it is it receded rather than expanded and so recession sounds like a big scary depression type word but it simply means two quarters we've not had one quarter yet shrinkage so it would have to be up into the fall before you can officially declare this a recession or or what results in the from the corona shutdowns a recession so I don't know but um I I I'm sure hoping that that the folks are not ill and that nobody dies and it's a horrible thing and uh but the the but in the juxtaposition with that is the same or we can get back to work uh the fewer people are going to be um you know affected by the economics of this and it's not saying I'm trading a dollar for a life but today actually that we've lost uh about a hundred jobs per case of Corona right now wow so the corona shot in America in America or in America yeah we've lost about you know the current shutdowns affected 100 families jobs uh for every case uh not not death for every case of the virus and I don't want anybody to be sick I want anybody to die and I don't want the hospital bills and the beds and the ventilators run out I I don't want any I don't want any bad stuff I don't know I'm not a medical person uh but but I am an entrepreneur and I'm you know every day we're uh not working uh is a trade-off and it is a good trade-off because you don't want to kill people believe me I'm not saying that but but man it's just it's painful to watch these people lose their businesses yeah from your you you mentioned you've been through three or four recessions I don't wanna I'm gonna say your age out here but it sounds like you've been busy you've been around the block you've experienced some stuff you know I only went through really uh you know I guess my adult life um when I was 24 I guess it was the 2008 to 2009 time uh time frame when I was just got out of school and I was trying to figure out my life I had three credit cards I was living off of yeah living on my sister's couch for a year and a half I was in college debt and I didn't have any skills that I thought were usable to get a job or do anything and when I look back you know 11 12 years ago that was actually the greatest time and the greatest gift for me to develop skills to work hard to hustle to try to see how can I make a hundred dollars here and there and then turn that into a business and it was the greatest it was the hardest time and the greatest time for me I'm curious with your experience in in watching these over the years what were the greatest lessons you learned from each one that you applied in the last three weeks with your personal business well it is cliche but cliches come from truth that um you know that that you know it's the greatest time and the worst time in your life uh you don't want to go back there no good Lord no I don't know back there I went bankrupt I lost everything in my 20s I don't want to go back there but the lessons that I learned from that pain were so thorough uh pain is a thorough teacher yes that uh you know I I it was a rich time the fertilizer was everywhere lots of places to grow stuff you know lots of poop so you know and and that's you know that's what you had there in 2008 there weren't any jobs you couldn't like you could just I mean there was a con a contraction of the economy a recession and you're there you are in your citrus couch and so you found out that the secret sauce in your life is the guy in your mirror that it's not some outside variable that's going to come and save you the calvary's not coming Santa Claus doesn't live in Washington DC it's up to you baby get up off the couch I gotta go leave the cave kill something and drag it home you found that truth in that moment I found that truth that you know what doesn't kill you makes you stronger you know that old saying I found that truth and so nowadays now that I've been through you know Y2K or 9-1-1 or all these initials come at you you know the the the horrible thing of 2008 now the corona the only thing I am sure is we're going to get through this yeah you get hope because you go it's not gonna kill you well I guess you could get the virus I don't mean that but I'm saying the economic stress that we're under the fear that we have the concern or the worry that we have does not you don't die from it you but but you feel you feel like like there's this hopelessness and the truth is that's unfounded the truth is there's a lot of reason to have hope uh by September where do you really think we're going to be by this time next year are you not 90 something percent sure that the economy will be roaring again and your life will be back to some level of normalcy you think it's going to be 10 years for you to personally recover from this no that's absurd and you know that once you've walked through several of them and so it's just to me it's like yeah you're going to make it we're gonna be okay yeah and so your personal I guess I'm just curious about your personal thoughts do you think to yourself like I'm fine because I've I've followed my seven steps for years and I've got you know cash and I feel safe and protected so now how can I shift and adapt and pivot and serve my community and customers more or do you feel any do you feel any anxiety personally at all or oh no none no I mean I'm we're in fabulous Financial shape it's not a yeah I got a lot of money invested in the stock market it's going down I'm gonna put some more money in while it's on sale you know I mean it's if real estate goes on sale again I'll buy some more so no I mean my personal stuff it's it's not arrogance it's just I've been doing this a lot doing time you're the king yeah I'm the I'm the little pig in the brick house you know I mean huff and puff baby and so uh but but I do it does put you in a position to serve then and truthfully you get more joy even in a crisis and serving than you do in sitting in the basement and counting your coins I mean so the opportunity I got a thousand folks on our team and it you know the struggle and the scratching and the scrappiness and the clawing to keep this place running and all of them not have their incomes interrupted in any way during this time that's an act of service in leadership uh the act of service of speaking hope and life into this uh into the communities around America right now is an act of service on my part uh it's being on the air three hours a day the Dave Ramsey Show I'm saying it's going to be okay it's going to be okay it's going to be okay over and over and over again right now that's my job that's what I do um and it's that's just so much more satisfying than counting coins yeah now I followed your steps when I was you know 25 26 when I started making some money when I was like it's hard to it's hard to fall a step when you feel like you're you're living off credit cards and in debt and you're not making any money you feel like the sense of helplessness really and I know I've listened to a lot of your shows with people where they feel helpless and it takes that initial momentum to kind of kick start it and see little savings here and there and then pay off one thing here and there but I tell you once I finished those I guess really the the first five to six steps I don't have a home still I still uh rent for personal reasons but the first uh five to six steps and then Building Wealth and giving and giving once I got through these it's just like man you feel so much more Bulletproof I feel so much more bulletproof now after 10 years of building into this recession I feel safe I feel fine I feel protected and it gives me so much more peace of mind since I did follow your steps so I would first want to acknowledge you for that for creating something so simple for us and providing this three hours a day for everybody I think it's amazing you sound like a preacher and a motivational speaker to me in the last few minutes just to speak in life and hope unto us so I appreciate that um what are you telling to people right now who are saying you know what I didn't follow your advice I didn't do what I should I should have done I I still love off credit cards I overbought paid for my house and I've got this expensive lifestyle and credit cards that I I know I'm wrong I made a mistake I own it and now I'm screwed and I just got 50 cut in my work I might lose my job in two months I got all these bills like how do you even how to even respond to something like that yeah well I certainly don't say I told you so uh that's not that's not the message because I've been there I've done stupid stuff too and that's not helpful uh and it doesn't bring it doesn't bring any healing uh the thing is this we all get wake up calls we get wake-up calls in our relationships our spiritual walk our leadership styles we get wake up calls in our finances and some people the phone's ringing off the hook right now uh they're getting wake-up calls on a bunch of things uh they're at home with their family and it's and they're starting to realize I was disconnected from my family I haven't been plugged in them they got a wake-up call on their relationships at home they've gotten a wake-up call on you know I don't have any savings and I've got I'm deeply in debt this isn't working and so the you know the the cool thing is when you get the call then you have to make the choice are you going to answer the phone if you pick the phone up that means maybe it's time to change and uh you can look back and you might be uh 27 years old right now watching this and you're screwed you lost your job you got no money you got no savings and you feel like it's all over uh and I remember in 1970 I was 10 years old and I was in my grandpa's backyard we were tearing down an old deck and I pulled some Nails out of those old boards as we were taking the boards off and he taught me to put them down and straighten them with a hammer and save those used Nails in a coffee can now my grandpa Ramsey was one of my favorite people on the planet this is 1970. and he was still answering the phone that rang in the Great Depression it changed his life he was Frugal and careful and wise with money the rest of his life and so someday 27 year old you're going to be sitting on the back porch with your grandkid and you're gonna remember back in alt 20 there was the Coronavirus and it changed my life you know and that you're going to be that guy you're going to be giving dad jokes you know and Grandpa jokes right like I am now and you're gonna get that opportunity I was 28 years old when I lost everything it was my fault it was the SNL crisis the banking climate changed I'd built a house of cards I was stupid and the phone rang and it was my wake-up call are you going to answer the phone are you going to change your life to where you say never again I'm going to control the controllables to where I'm the little pig in The Brick House never again that may be the only thing you get out of this crisis and if it is you got enough preach to me Dave come on now I love this what's uh what's the biggest wake-up call for you this has had maybe it's not the financial side of things or business because you guys are thriving is there something you know relationship family friendships health is there anything that's woken you up now or in the near future recently well I've spent the last 15 years pouring into our leadership team and into the Ramsay personalities creating the succession plan of and so uh it's not a wake-up call it's more of a source of Pride as to how our leadership team and our Ramsay personalities are reacting in the moment here uh without me coaching them they already knew what to do they're leading they're out there doing it they're doing it they're not waiting for Grandpa Dave to say what do I do tell me the steps they already did it they already did it and then I found out about it you know and that's that's awesome and so it's just a a sense of ah this is starting to work you know I mean when uh Rachel Cruz and Ken Hogan and these guys are doing Ken Coleman are doing all these hits and Chris Hogan all these guys are doing all these hits he's radio and TV and appearances and all this stuff everywhere and the networks are calling and asking for them uh which is awesome and so um you know that kind of thing is uh I don't know if it's a wake-up call as much as it is it's very satisfying to say you know all that work of the last decade and a half of getting everybody ready to win because we were winning in a winning environment but then when you get the pressures on and you get squeezed you see what comes out and it's good stuff coming out what was the last uh I mean what year would you say was the last big wake-up call for you around you know one of the main areas of your life do you remember when that was where you're like oh you know I'm eating a little too many uh candy bars or um you know my relationship or you know what it sounds like you've had to finance it down for many years but is there yeah yeah you're like oh you know what I really didn't do as good as I should have done here I I guess it's probably leadership and I'll probably get one of those calls every day um there's some days I'm a world-class leader and some days I'm just a butt in what way like how are you sometimes I do a better job than other times as a leader and I uh uh I own it I'm I get it but uh you'd think as old as I am I'd be doing better so uh but I know what I'm supposed to do but sometimes I just don't have the energy to do it I don't care yeah and uh I should just care more I really should I shouldn't be such a grouch oh no you care a lot about a lot of people I'm curious what's the best uh what's the best dad joke you share I don't have no idea oh you got me I'm not a dad joke guy really other than just a stupid stuff off the cuff that doesn't even make sense generationally so yeah no good dad jokes what um what is the most common thing that you're hearing with your your the people that are calling in for you right now what's the thing that you hear over and over again that they need the most support with I think there's a sense I think when hope gets gut punched the way it has for folks right now um the the the the answers fall a lot of them fall in the category of this is not going to last forever uh because there's a sense that you know stock market's down do I take my investments out well only if you think it's going to stay down forever right uh because you know you're you're 35 you're going to be investing for 30 more years you don't think it's going to come up in 30 more years I mean really you're predicting the end of America I mean that's that's silly but your emotions tell you lies when when they're based in fear and when they're based in anger and they tell you lies and and they tell me Lies We Believe those lies in situations like this so uh you know you I lost my job I know but that's happened before and probably happen again just get you another one well yeah there's a lot of people hiring right now there are a lot of people hiring Amazon Amazon's hiring 100 000 people right now yeah so I mean there's jobs it may not be the one you want but you can get some food yeah uh I mean get you a leaf blower and rich people are afraid of leaves you know I mean you can make some money so there's some stuff to do out there but the uh uh uh so the thing that the sense that that that the thing you're afraid of is going to last longer than it is yeah whether it's the actual virus whether it's the shutdowns whether it's economic repercussions of the shutdowns whether it's the employment situation uh whether it's the quarantine it feels like it's going to last forever but I mean the chances of you being in the exact situation you're in in a few months is almost zero your life is not a snapshot you're not trapped In This Moment it's a film strip the story is going to continue to unfold yeah and so that that when hope takes a gut punch though we and we get down in that fear or we're mad or however it is we manifest that stuff that those negative things we the emotions that we all have in these situations that's where a lot of my questions are coming they're all built in that I'm spending all my time going uh yeah but it's not gonna last forever uh yeah but it's not gonna last forever uh yeah but let's visit this in May I think you're going to be okay uh by June are you even gonna remember this it's the great toilet paper shortage of the spring you know I don't know I mean what is it you know it's you know some people are going to have devastating horrible things that are going to be life-changing but that that's a very small percentage compared to the number of that are worried about it yeah and so you know you and you're gonna get out of it'll be okay most I mean you're you're gonna be okay I like I like preacher Dave man this is a you should just be preacher show you know I like this what is the worst investment people should be making during this time and what's the best investment they can make um in my life when I have become desperate right after that's when I become stupid yeah and explain it the other one the other one is well when you know when you get scared and you go rushing towards something out of fear that does a sense of desperation this thing when you do that you're getting ready to screw up I mean just count on it uh and the other time you do that is if you're greedy uh if you think you okay I got this one I can take advantage of this and uh I mean greedy as a lack of virtue greedy I don't mean greedy in a a positive way where I'm being ambitious okay I mean the negative sides of greed and so if you're functioning in desperation or in this No Holds Barred I've I'm gonna just clean up on other people's pain thing that's when you're getting ready to screw up and you're getting ready to make a major mistake and and so you're set up also for con artists when you do that um and so if you're if you're functioning in high emotion your brain just doesn't work good my friend art Laffer says people when you're panicked and when you're drunk you don't make good decisions and so you know you you're when you're on high emotion your brain is it's your critical thinking skills shut down and and so that's when I've made the biggest mistakes in my life is when I was desperate and the few times that I was greedy where I thought oh I'm gonna slip in there and that's gonna be easy money somebody making fifty thousand dollars a year can become wealthier than somebody making a hundred thousand dollars and when you hear that you might say wait how is that possible well if you just look at the numbers you can kind of see what happens because if you have two people person a person B one person person a makes 50 Grand

Channel: Lewis Howes

Views: 754,154

Keywords: Lewis Howes, Lewis Howes interview, school of greatness, self help, self improvement, self development, personal development, success habits, success, wealth, motivation, inspiration, inspirational video, motivational video, success principles, millionaire success habits, how to become successful, success motivation

Id: 35PbdPppR2w

Length: 77min 23sec (4643 seconds)

Published: Wed Mar 29 2023