Speaker 1: Welcome to another episode of the Chicks on the Right
podcast where we talk to our friend and sponsor of
the show, Zach Abraham from Bulwart Capital Management. Zach, it's
been a while, it's been a hot minute, as they say,
and we're coming back with a really, really interesting story.
There was this Reddit post that went completely viral from
this mom who has a twenty five year old daughter,
and she was talking about how, you know, she helps
her twenty five year old daughter with rent, with car payments,
with emergencies, even and so I guess she made a
joke to her daughter one day saying, you know, at
some point you'll be taking care of me in my
old age. And the daughter flipped out and was like,
you should not expect that because I did not ask
to be born. It's your responsibility to take care of me.
And so now just because of that reaction, the mom
is like, the hell, I I'm not going to continue
to be like her atm machine if that's her attitude.
So do you run into families that have these kinds
of dynamics?
Speaker 2: Oh yeah, And I would say it's increasingly common. And
let me first say, and you guys are parents, so
you know this anytime I enter one of these conversations,
I do it with kind of this under undercover humility
because it is so much harder than I thought I
was going to be, you know, to do it right.
The kids are so much more complex. There's so many things.
Even if you're wise beyond your years and realize that
it's going to be harder, you know, like if you're
wise enough to be a young parent and listen to
some experienced parents like that, that puts you ahead of
the crowd. It also doesn't mean you're still not going
to have those moments where you're like, oh my gosh,
I am not good at this. I screwed this up.
I hope I didn't screw it up to you know
what I mean. Like, so, I don't want to anybody
thinking I'm out there thinking I'm a perfect parent because
we've and my kids are great. We've just had my
daughter's fifteen. You know, we're just having some high you know,
there's just my son.
Speaker 3: I have one exactly that age, So I get it.
Speaker 2: Yeah, right, it's yeah, there's just curve balls all the time, man,
and anyway.
Speaker 3: But don't you feel like you have to set expectations though,
Like we did with our older kids. We were like, listen,
here's when we're cutting you off. Like I love you,
but like this is when it ends, Like the gravy
train ends at this time, and they don't really get
it until they get out and they're like, holy cow,
like it's gonna end in this many like when they're
in college, because we've had financial planners in the past,
well we didn't actually hire them, and we may be
terrible parents because we've actually had financial planners tell us
don't pay for college. Don't pay for your kids college,
and we're like, we're going to help them with college,
and then after college they're done. And so but that's
our that's our line, you know, like we say, we
help you with college, well the best that we can,
maybe not all of it, but the best that we can.
We're going to help you with college, and then you're done,
like that is a gift, and we try to make
sure they understand that that is a gift. And then
they're cut off, and we really do cut them off,
you know, yeah, we do.
Speaker 2: Look, you have to and there's something culturally that's gone
on and it's systemic. I see it more often today
than I ever have I and you know everybody's like, well,
things are more expensive, and da da da.
Speaker 1: Da and all.
Speaker 2: There's all these reasons right when you without any requirement
or any effort, if you alleviate someone's pain on a
financial basis. Now, obviously this is said with the caveat
of if you know somebody's in desperate need help. I'm
not saying we don't help people, right, but I'm saying
all too often everything in our culture has become about
suppressing symptoms. Right, So, well, we we're gonna help you
out with groceries because you're young, you're getting on your feet. Oh,
we're gonna help you out this time, We're all we're
gonna help you out that time. You're alleviating symptoms, you're
not treating causes. Okay, if you have to keep helping out,
there's a problem there, right. Maybe it's a lack of ambition,
Maybe it's a lack of drive, Maybe it's a lack
of work ethic. Maybe it's just you've enabled it. Right,
Maybe it's that simple, you just need to stop. But
bottom line is, and it's one of the things I believe,
like in a welfare system, I believe in a social
safety net. But that safety net needs to have some elasticity,
meaning the point of the net should not just be
to catch them, it should be to pop them back up. Right.
We do not want to alleviate the pain of underachieving
and making bad decisions, because if you alleviate the pain
of underachievement, you will get more of it, right, Like
it's one of the things that is, you know, don't
take away the pain, like give somebody the ability to
climb out of a hole. Don't take the pain of
the hole away, right, because the pain of the hole
is what got me up at five in the morning,
working eighteen hour days, right, fear, Yes, And you should
feel that heat, right, that heat that's good for you.
And and I think all too often parents are trying
to esthetize pain, some for even selfish reasons. They don't
want to say no, they don't want to feel that.
They don't want to see their kid driving a dump of.
Speaker 3: A car, right, is your baby? Right?
Speaker 2: Well, and that's the problem your baby anymore? Kick that
kid out of the nest and make him fly, yeah,
and and and and I look at him and go,
do not rob your child. And I think that I
think the better off you are financially, the easier that
becomes to do. But don't rob your child of the
experience that we all got, which was a because we
weren't getting helped. We had to figure out what we
were made of, right, right, And and I look back
on those experiences now and those tough things, those tough times,
I look back on them more fondly than the successes, totally, like.
Speaker 1: Because you earn it right.
Speaker 3: Pain. Yeah, it's like I tell my kids, don't do
hard things and you'll have an easier life. Like, don't
do easy things all the times, and you're gonna have
a hard freaking line. Yeah.
Speaker 2: Perfect example that this weekend we had our football game
and we are We've got a really tough team and
they're playing they were playing clean. They're just a bunch
of really hard hitters, and we knocked the other team
second quarterback out of the game. He was okay, but
he couldn't play, and they ran out of kids, Like,
so we couldn't finish the game, right, Well, our kids
are like, oh, it's over, and there was six minutes
left in the third quarter, and so basically we had
half a game left. So we took them on the
field after the game and we ran gassers right, and
I told them, I go, boys, I'm not gonna rob
you of a half a football, and I'm not going
to have you not be as in good as shape
as the next team we play because the game got
cold earlier. And I was explaining them, if it doesn't hurt,
and I say this to them all the time, if
it doesn't hurt, you're not getting better, right. It's pain
is not the thing that you should avoid. Pain is
the price of progress, right, And so when you're alleviating pain,
you're nullifying the need for progress.
Speaker 3: Right.
Speaker 1: I love that message. That is perfect. That's perfect. See,
this is why we always want to talk to you
about these kinds of issues exactly. And I know people
can listen to you talking about these kinds of issues
too on your own podcast. Where can people listen?
Speaker 2: Yeah, they can't. And what's funny is we just actually
talked about this. So I just did an hour and
a half interview with my mentor, who's an x NFL
player and now a very successful businessman in his own right.
And he literally he coached me in high school and
I reconnected with him in adulthood and we'd get together
like once or twice a month, and he was with
me step by step of building my company. And I
basically spent an hour and a half telling his story
and everything that he taught me, and not in a
way to brag at all, and a way to share
it with people and say, look, this is how my
life changed following these principles. Give this a listen. It works.
I'm proof you know. So anyway, Know your Risk Podcast
is the name of it. He's a dynamic guy, dynamic speaker,
easy to pay attention to. And what's his name, Yeah,
Eric Bowles, Eric Bowles, he's Noway. He has several fortune
five hundred company CEOs that he's coaching on leadership and
you know, public speaking and all that kind of stuff,
but basically specializes in coming into companies and making them
more efficient through better leadership. Yeah, he's an incredible guy.
But yeah, so all of that stuff. Know Your Risk
Podcast You can find us on YouTube, on Twitter, all
over the place is google, Bullward Capital Management, Know Your
Risk Podcasts and we're not tough to find.
Speaker 3: All right, thank you, Zach, all right, thank you, ladies.
Speaker 2: Investment advisory services offered through Trek Financial loc and SEC
Registered Investment Advisor. The opinions expressed in this programmer for
general informational purposes only, and are not intended to provide
specific advice or recommendations for any individual or on any
specific security. Any references to performance of security so it
thought to be materially accurate and actual performance may different.
Investments involved risk and are not guaranteed. Past performance doesn't
guarantee future results Trek twenty four to three zero eight