1
00:00:00,120 --> 00:00:04,040
Speaker 1: Well, it's education really, so the school system or parents,

2
00:00:04,080 --> 00:00:07,599
they don't teach about investing. They don't teach about saving.

3
00:00:08,039 --> 00:00:11,839
And the wealthier families or the families who have children

4
00:00:11,880 --> 00:00:15,240
who have training, they say, you set aside for yourself

5
00:00:15,279 --> 00:00:20,000
first and you spend later. That's a cultural difference. Most Americans,

6
00:00:20,239 --> 00:00:23,039
they spend all they have and they hope they get more.

7
00:00:23,239 --> 00:00:27,160
Speaker 2: You're listening to Carrie Let's's Financial Survival Network, where you

8
00:00:27,199 --> 00:00:31,160
get valuable information you just can't find anywhere else to

9
00:00:31,320 --> 00:00:35,320
thrive in today's trying times. You need the Financial Survival

10
00:00:35,359 --> 00:00:40,079
Network now more than ever. Go to Financial Survivalnetwork dot

11
00:00:40,119 --> 00:00:44,439
com and get your free newsletter and gift. Financial Survival

12
00:00:44,479 --> 00:00:47,079
Network now more than.

13
00:00:46,920 --> 00:00:53,119
Speaker 3: Ever, and welcome. You are listening to and watching the

14
00:00:53,240 --> 00:00:57,399
Financial Survival Network. I'm your host, Carrie Letz, and I'm

15
00:00:57,399 --> 00:01:01,119
traveling a bit, so the studio that you see in

16
00:01:01,159 --> 00:01:04,920
the background is not my usual studio, please forgive, and

17
00:01:05,280 --> 00:01:10,079
don't have my usual mic and equipment. But my next

18
00:01:10,079 --> 00:01:12,799
guest I felt was important enough that you would want

19
00:01:12,840 --> 00:01:14,640
to hear what he had to say. His name is

20
00:01:14,760 --> 00:01:18,519
Eric Weir, and of course Eric is in real estate

21
00:01:18,560 --> 00:01:21,359
because everybody we have on this show is in real Estate.

22
00:01:21,760 --> 00:01:27,239
He's also the author of an Amazon bestseller, a fellow

23
00:01:27,519 --> 00:01:32,760
best selling author, Who's Eating Your Pie, and Essential financial

24
00:01:32,799 --> 00:01:38,079
Advice that will Transform your life. Before we got on

25
00:01:38,120 --> 00:01:41,359
the call, Eric was sharing some things about himself. He

26
00:01:41,439 --> 00:01:44,319
told me when he was five, he was in a

27
00:01:44,359 --> 00:01:47,959
car accident and when he emerged from the accident he

28
00:01:48,000 --> 00:01:53,599
had a stutter and talk about taking a liability and

29
00:01:53,640 --> 00:01:56,519
turning it into an asset. Eric, you seem to have

30
00:01:56,599 --> 00:01:59,840
really mastered that, So just share that story with us

31
00:02:00,000 --> 00:02:00,560
if you don't mind.

32
00:02:00,680 --> 00:02:03,040
Speaker 1: Yeah, yeah, sure, yes, sure. So at age five, I'm

33
00:02:03,079 --> 00:02:06,159
in a car wreck and I'm spun around in the

34
00:02:06,200 --> 00:02:08,919
car and I look look look over and I see

35
00:02:09,400 --> 00:02:12,960
a person that's being taken away on a stretcher, like wow,

36
00:02:13,080 --> 00:02:15,840
And my mom says, stay in the car. My brother says,

37
00:02:16,159 --> 00:02:18,120
you know, we got to stay here. The cops says

38
00:02:18,120 --> 00:02:21,560
stay there. And at that time they had a show

39
00:02:21,599 --> 00:02:24,479
called Bugs Bunny and the you know, the road Runner show.

40
00:02:24,840 --> 00:02:27,960
But car's wrecked, they explode, so I thought it was

41
00:02:28,000 --> 00:02:30,479
going to be blow up. So it was very traumatic

42
00:02:30,719 --> 00:02:33,280
and I had a brand injury. I went to a

43
00:02:33,280 --> 00:02:37,199
speech therapist maybe a week later. Since nineteen seventy two,

44
00:02:37,280 --> 00:02:40,680
and the speech therapist said, Eric, odds, Are you're going

45
00:02:40,759 --> 00:02:43,159
to be a failure. You're going to be reclusive, You're

46
00:02:43,159 --> 00:02:46,479
going to avoid conversation, You're going to withdraw and insids

47
00:02:46,479 --> 00:02:49,560
You'll be a failure. And she stopped and she goes,

48
00:02:49,719 --> 00:02:55,879
Are you could reframe every obstacle, every person you talk

49
00:02:55,960 --> 00:02:59,479
to and make it like a rocky climb to success

50
00:02:59,759 --> 00:03:02,800
and you'll be unstoppable. But the choice is up to you.

51
00:03:02,800 --> 00:03:05,120
You could be a failure or you could be a success.

52
00:03:05,520 --> 00:03:07,719
I looked at my dad, thinking, Dad, tell me this

53
00:03:07,759 --> 00:03:09,879
person is a quack, right, and he goes, Eric, well,

54
00:03:09,879 --> 00:03:12,240
that's going to be hard, so let's get started. And

55
00:03:12,280 --> 00:03:14,960
a good thing happened with that. Because I never thought

56
00:03:15,000 --> 00:03:17,919
life would be easy. Are there anything would be given

57
00:03:17,960 --> 00:03:20,120
to me? Or that the government would take care of me?

58
00:03:20,560 --> 00:03:23,159
I love at age five, thinking I got to own

59
00:03:23,240 --> 00:03:25,719
this and I've got to take charge. Yeah.

60
00:03:25,800 --> 00:03:29,479
Speaker 3: So taught you a valuable lesson, and I'm sure you've

61
00:03:29,520 --> 00:03:32,639
applied that lesson repeatedly throughout life.

62
00:03:33,439 --> 00:03:37,280
Speaker 1: I mean it's over and over again, yes, almost daily.

63
00:03:37,560 --> 00:03:40,840
Speaker 3: Yeah. So these are like not the best of economic times,

64
00:03:41,360 --> 00:03:45,120
but in every economy there are winners and losers. How

65
00:03:45,120 --> 00:03:47,120
do you become a winner in this economy?

66
00:03:47,199 --> 00:03:51,759
Speaker 1: Eric, Well, it's education really, So the school system or parents,

67
00:03:51,800 --> 00:03:54,599
they don't they don't teach about investing. They don't teach

68
00:03:54,639 --> 00:03:58,800
about saving. And the wealthier families or the families who

69
00:03:58,879 --> 00:04:02,400
have children who have training, they say, you set aside

70
00:04:02,439 --> 00:04:06,360
for yourself first and you spend later. That's a cultural difference.

71
00:04:06,680 --> 00:04:10,080
Most Americans, they spend all they have and they hope

72
00:04:10,120 --> 00:04:13,159
they get more, and when they get more, they spend more.

73
00:04:13,360 --> 00:04:15,280
They get more, they spend more, and they get a

74
00:04:15,280 --> 00:04:17,560
credit card, they get a student loan, and they set

75
00:04:17,560 --> 00:04:21,759
themselves up in debt. And the financial system is set

76
00:04:21,839 --> 00:04:23,800
up in such a way that they don't teach them

77
00:04:24,040 --> 00:04:25,879
and so people end up in debt and up in

78
00:04:25,920 --> 00:04:29,160
despair and they spend the raise is to save the rays.

79
00:04:29,560 --> 00:04:34,319
Speaker 3: Right, So you know that's a thing where people easy credit,

80
00:04:35,120 --> 00:04:36,920
they get a windfall, the first thing they do is

81
00:04:36,959 --> 00:04:39,959
go buy a flat screen, although now flat screens are

82
00:04:40,000 --> 00:04:44,319
so cheap that but you know the point is they

83
00:04:44,399 --> 00:04:49,120
don't invest. And in today's world, you have to be

84
00:04:49,199 --> 00:04:52,600
looking forward to putting your money to work for you.

85
00:04:53,279 --> 00:04:57,000
How do you plan for the future, for retirement. You

86
00:04:57,040 --> 00:04:58,879
can't just live for today, right.

87
00:04:59,319 --> 00:05:02,360
Speaker 1: You can't. I tell people retirement is not an age.

88
00:05:02,560 --> 00:05:05,199
It's a math problem. It's a math problem that when

89
00:05:05,199 --> 00:05:08,839
your investments are a business you've started or something, it

90
00:05:08,839 --> 00:05:11,480
pays your bills and not your current income. So it's

91
00:05:11,519 --> 00:05:14,360
not an age. It's a math problem. Right.

92
00:05:14,480 --> 00:05:20,639
Speaker 3: So you know, people really maybe don't view it as such,

93
00:05:20,639 --> 00:05:23,399
and they don't teach math very well in school these days.

94
00:05:23,959 --> 00:05:26,920
But how have you made it different? How have you

95
00:05:27,399 --> 00:05:30,639
taught your children so they don't fall into this trap?

96
00:05:31,240 --> 00:05:33,519
Speaker 1: So what I did I made a box for them,

97
00:05:33,560 --> 00:05:35,839
and I said, you know, you need to be charitable.

98
00:05:36,120 --> 00:05:37,920
No matter what you give to you, you have to

99
00:05:37,920 --> 00:05:41,240
give to something. So part of every of a bit

100
00:05:41,240 --> 00:05:43,920
of money is giving back to somebody less fortunate than you.

101
00:05:44,319 --> 00:05:47,639
And that's another it Also it frees you of the

102
00:05:47,680 --> 00:05:50,360
greed of money because you, at a young age you

103
00:05:50,480 --> 00:05:53,879
learn it's not all about yourself. Then I say there's

104
00:05:53,879 --> 00:05:56,199
some that you invest. I don't say save. I say

105
00:05:56,240 --> 00:05:59,319
invest because save is like you're thinking I'll buy a

106
00:05:59,360 --> 00:06:00,319
CD or thing.

107
00:06:00,360 --> 00:06:01,000
Speaker 3: It's passive.

108
00:06:01,360 --> 00:06:04,800
Speaker 1: You don't make mistakes, but you don't learn from mistakes,

109
00:06:05,199 --> 00:06:08,240
and you never own Amazon for ten years. If you

110
00:06:08,959 --> 00:06:11,800
just do that, the third thing I say is then

111
00:06:11,839 --> 00:06:13,759
you live. You have an amount of money you live on,

112
00:06:14,399 --> 00:06:17,399
and as you start to make money, don't let your

113
00:06:17,560 --> 00:06:20,480
don't let your lifestyle grow as fast as your wages do.

114
00:06:21,040 --> 00:06:24,600
And I say, if you're smart for ten years after

115
00:06:24,720 --> 00:06:27,920
college or after high school, and you do that, the

116
00:06:27,959 --> 00:06:30,240
rest of your life, you'll be set up. Two things

117
00:06:30,279 --> 00:06:32,399
will happen. You'll build a discipline that you'll follow the

118
00:06:32,399 --> 00:06:34,199
rest of your life, and two you will have a

119
00:06:34,240 --> 00:06:35,920
nest egg that grows the rest of your life. And

120
00:06:35,959 --> 00:06:38,399
I was talking to a twenty three year old yesterday

121
00:06:38,399 --> 00:06:41,680
who inherited a couple hundred grant and the first thing

122
00:06:41,680 --> 00:06:43,399
you want to do is spend eighty five thousand on

123
00:06:43,480 --> 00:06:46,680
a car and shut the balance on a down payment

124
00:06:47,000 --> 00:06:49,439
on the nicest condo he could afford. And I said,

125
00:06:50,000 --> 00:06:53,639
you're putting money in an asset is going to go down,

126
00:06:53,959 --> 00:06:56,519
and you're buying a house that best case keeps up

127
00:06:56,560 --> 00:06:58,839
with inflation, and you have expenses and things you just

128
00:06:58,839 --> 00:07:03,240
don't need. Get a roommate apartment and save all the money.

129
00:07:03,519 --> 00:07:04,920
He goes, what do you mean. I said, let's just

130
00:07:04,959 --> 00:07:08,600
say that you you average I picked a number twelve percent,

131
00:07:08,639 --> 00:07:11,480
which is higher the most people have averaged in the markets.

132
00:07:11,720 --> 00:07:14,240
But just to make a point, I said, if you

133
00:07:14,319 --> 00:07:19,439
put that two hundred thousand today when you're sixty, will

134
00:07:19,439 --> 00:07:22,480
be worth thirty times what it is today, thirty times.

135
00:07:23,040 --> 00:07:25,759
And he's like, what, So it'll take you five years

136
00:07:25,800 --> 00:07:27,920
of double the first time, then five years to double

137
00:07:27,959 --> 00:07:30,000
the second time, but you're double in the double and

138
00:07:30,040 --> 00:07:33,800
by the thirtieth year, your original investment is doubling it

139
00:07:33,839 --> 00:07:34,839
every two months.

140
00:07:35,160 --> 00:07:40,160
Speaker 3: Yeah, it's the power of as Einstein said, the greatest

141
00:07:40,199 --> 00:07:44,360
mystery in the universe, the power of the compound interest.

142
00:07:44,040 --> 00:07:48,839
Speaker 1: Right, one hundred percent. And he and he's a smart kid,

143
00:07:48,879 --> 00:07:51,399
he's been through college. He's like, I've never heard that before,

144
00:07:51,759 --> 00:07:54,720
no matter who I've heard save, I've heard don't spend money,

145
00:07:54,720 --> 00:07:57,079
don't buy a card, stupid, but I've never heard the

146
00:07:57,160 --> 00:07:59,519
logic behind it, just like, don't do it, but not

147
00:07:59,600 --> 00:08:00,560
why not to do it?

148
00:08:00,959 --> 00:08:06,639
Speaker 3: Yeah? Well, it's called the deferred consumption from an economic standpoint,

149
00:08:07,399 --> 00:08:13,639
and basically it's not living for today. But there's a

150
00:08:13,680 --> 00:08:14,560
balance there too.

151
00:08:14,879 --> 00:08:19,959
Speaker 1: You can't hundred percent yeah, right, And what you find

152
00:08:20,079 --> 00:08:23,319
is that discipline allows you to think differently. You think

153
00:08:23,360 --> 00:08:26,279
about your education differently, but the jobs differently. You think

154
00:08:26,279 --> 00:08:29,279
about deferred gratification. So, you know, if you find out

155
00:08:29,279 --> 00:08:32,639
that you can solve problems for other people. If I

156
00:08:32,679 --> 00:08:35,679
solve a problem by breaking your yard, that has a value, right.

157
00:08:35,919 --> 00:08:38,320
But if I solve a problem that saves you one

158
00:08:38,360 --> 00:08:40,879
hundred thousand dollars, that has a different value. If I

159
00:08:40,919 --> 00:08:42,960
solve a problem saves you five million, that has a

160
00:08:42,960 --> 00:08:46,320
different value. Still, So how do you solve bigger problems

161
00:08:46,320 --> 00:08:49,120
for people? And it's just and you know, and problems

162
00:08:49,159 --> 00:08:52,320
are opportunities. They're not people look at they don't want them,

163
00:08:52,600 --> 00:08:55,039
and somebody else's problem is an opportunity, particularly if you

164
00:08:55,039 --> 00:08:58,840
can help them solve it. You know, Leiah Coca, when

165
00:08:58,840 --> 00:09:02,399
you was talking about the first turnaround of Chrysler, you know,

166
00:09:02,440 --> 00:09:10,480
where the country, the company was really on the balls behind,

167
00:09:11,080 --> 00:09:15,440
and he said, we had the luxury of adversity. And

168
00:09:16,279 --> 00:09:20,039
that has always stuck in my mind, because you perform

169
00:09:20,200 --> 00:09:25,600
best when you when the odds are against you, when

170
00:09:25,600 --> 00:09:32,120
you have to really knuckle down and really really face

171
00:09:32,159 --> 00:09:36,840
adversity and overcome it, you know, and that's and that's

172
00:09:36,879 --> 00:09:38,120
what builds.

173
00:09:37,840 --> 00:09:43,440
Speaker 3: True, true self esteem. It's not like you got an

174
00:09:43,519 --> 00:09:46,879
A at a class, although if you really worked hard

175
00:09:46,960 --> 00:09:49,440
and you were failing and you turned it around, that

176
00:09:49,480 --> 00:09:53,360
could very well be a self esteem builder. But when

177
00:09:53,399 --> 00:09:58,759
stuff comes easy and you know and there's basically no

178
00:10:00,080 --> 00:10:03,759
challenge to it, like with the example you gave with

179
00:10:03,840 --> 00:10:08,600
that young man inheriting two hundred thousand, it just came

180
00:10:08,639 --> 00:10:12,360
out of the sky and you not talk to him.

181
00:10:12,360 --> 00:10:14,519
So did he wind up not buying the car and

182
00:10:14,799 --> 00:10:15,240
the condo?

183
00:10:15,559 --> 00:10:18,039
Speaker 1: Too soon to tell? I don't know. It was this week,

184
00:10:18,120 --> 00:10:20,720
so I don't know, And I'm just like, just just

185
00:10:20,840 --> 00:10:23,440
keep your current car. You can have all the cars

186
00:10:23,440 --> 00:10:26,759
you want later. And it's just it's just it's timing

187
00:10:27,080 --> 00:10:30,120
and being thoughtful and how do you And I said,

188
00:10:30,159 --> 00:10:32,960
your job, as I told him, your job is to

189
00:10:33,000 --> 00:10:34,840
make enough money that you don't need to touch your

190
00:10:34,879 --> 00:10:37,559
inheritance and let that work for you. And if you

191
00:10:37,679 --> 00:10:40,080
do that, you'll probably probably the rest of your life

192
00:10:40,080 --> 00:10:42,759
you'll be in good financial shape. But you've got to

193
00:10:42,759 --> 00:10:45,000
protect your an estate. Does it act like you didn't

194
00:10:45,000 --> 00:10:47,080
have it, You didn't have it a week ago. So

195
00:10:47,159 --> 00:10:49,279
if you live like you didn't have it, then nothing

196
00:10:49,360 --> 00:10:51,720
changed other than you've got a backstop that most people

197
00:10:51,720 --> 00:10:52,480
your age don't have.

198
00:10:53,279 --> 00:10:56,960
Speaker 3: Yeah, well, right, you know, Eric, I got one question

199
00:10:57,080 --> 00:10:59,039
for you. Where were you when I needed you?

200
00:11:04,360 --> 00:11:09,039
Speaker 1: I was flying a very well known I have an airplane,

201
00:11:09,080 --> 00:11:12,679
and I donate my airplane for people to travel to

202
00:11:12,759 --> 00:11:16,559
speak at events, to encourage the people. So it's a

203
00:11:16,600 --> 00:11:18,960
little bit selfish because I picked the people up. I

204
00:11:19,000 --> 00:11:21,480
spend time with them. They fly up front with me

205
00:11:21,519 --> 00:11:23,519
and I talked to them. He said the same thing.

206
00:11:23,559 --> 00:11:25,240
He goes, I want to cy Young Award. I've won

207
00:11:25,320 --> 00:11:28,799
all these golden gloves. I've made you know over you know,

208
00:11:28,879 --> 00:11:31,679
seventy five eighty million as a pitcher. And I didn't

209
00:11:31,720 --> 00:11:35,559
save much money, And he said, wherever you And it's like,

210
00:11:35,639 --> 00:11:39,360
because when I signed my first contract, I spent it all.

211
00:11:39,600 --> 00:11:43,240
And literally, there are businesses that prey on athletes that

212
00:11:43,279 --> 00:11:46,440
will factor their bonuses up front and they'll give them

213
00:11:46,840 --> 00:11:49,080
eighty percent of it. So when they get the check,

214
00:11:49,679 --> 00:11:52,600
the company gets the money and they give the advance

215
00:11:52,679 --> 00:11:54,879
the athlete money and they don't give them the cars.

216
00:11:54,919 --> 00:11:58,080
And it's just it's a it's an industry of consumption

217
00:11:58,639 --> 00:12:01,879
and if you if you spend it now, you spend

218
00:12:02,000 --> 00:12:04,000
less if you spend a letter, you spend more actually

219
00:12:04,039 --> 00:12:06,879
deferred gratification. You can have everything you want and even

220
00:12:06,919 --> 00:12:10,159
more than he ever drained if you if you reframe

221
00:12:10,240 --> 00:12:13,120
it and can just deffer some gratification, I mean, do

222
00:12:13,200 --> 00:12:16,399
some nice things. I'm not saying nothing, but just be thoughtful.

223
00:12:16,600 --> 00:12:19,200
You can spend. I have another person that brought me

224
00:12:19,200 --> 00:12:21,240
in the kid to consult and they said, help me

225
00:12:21,279 --> 00:12:23,799
save money. And I observed him and I saved them

226
00:12:23,799 --> 00:12:25,919
a crazy amount of money, and I said, what are

227
00:12:25,919 --> 00:12:28,480
you doing now? I said, well, I'm one own person.

228
00:12:28,600 --> 00:12:30,639
I have a big contract, and I've got a fly

229
00:12:30,679 --> 00:12:32,879
from Atlanta to la and I could take an airline,

230
00:12:32,919 --> 00:12:36,399
but instead he charted a golf stream and he shook

231
00:12:36,440 --> 00:12:38,440
all his friends with him, and he had the limo

232
00:12:38,559 --> 00:12:41,120
service and he had to get security and all this stuff.

233
00:12:41,720 --> 00:12:44,200
I got two hundred and fifty thousand dollars trip, and

234
00:12:44,360 --> 00:12:46,960
he could have done it for ten thousand in an

235
00:12:47,000 --> 00:12:50,840
amazing way and save two hundred and forty. But that

236
00:12:50,879 --> 00:12:52,080
money's gone forever now.

237
00:12:52,679 --> 00:12:55,919
Speaker 3: Or he could have flown steerage and done it for

238
00:12:56,000 --> 00:13:02,440
five hundred bucks exactly. It's yeah, it's shocking, but I've

239
00:13:02,480 --> 00:13:06,240
been guilty in my own respect. But the one thing

240
00:13:06,360 --> 00:13:09,960
I did was I had a different kind of force savings.

241
00:13:09,960 --> 00:13:13,320
I put it into gold and silver and I managed

242
00:13:13,399 --> 00:13:15,320
to hold on to all of it for the past

243
00:13:15,399 --> 00:13:18,679
fifteen years. But I you know, because life happens like

244
00:13:19,080 --> 00:13:21,679
That's the other thing when you save the money. When

245
00:13:22,240 --> 00:13:24,480
when you get a divorce, so you get a bill

246
00:13:24,600 --> 00:13:28,240
from the irs, or one of your kids or both

247
00:13:28,279 --> 00:13:30,559
of them are going to get married, you know, you

248
00:13:30,679 --> 00:13:34,799
go to your stash wherever it is, and you have

249
00:13:34,879 --> 00:13:38,559
the money to do it. So that's that's why you save.

250
00:13:38,679 --> 00:13:43,000
Also not just for the future, but for future challenges

251
00:13:43,039 --> 00:13:43,519
of life.

252
00:13:44,159 --> 00:13:47,639
Speaker 1: Oh one hundred percent, elder care, medical needs. You just

253
00:13:47,720 --> 00:13:50,720
never know what comes up. You know. There's also opportunities

254
00:13:50,759 --> 00:13:53,440
when there's a recession or a difficult time. I've been

255
00:13:53,480 --> 00:13:56,600
able to buy properties or buy assets. You know, I

256
00:13:56,600 --> 00:14:00,799
always say there's no distressed real estate. They're distressed owners.

257
00:14:01,679 --> 00:14:05,919
So Eric carrs or anything else, right, opportunistic things, and

258
00:14:06,519 --> 00:14:09,480
it's just just being ready and and and when things

259
00:14:09,480 --> 00:14:12,279
go in cycles, the trees don't grow the sky, and

260
00:14:12,559 --> 00:14:14,919
whatever is in vogue today, in five years, it won't

261
00:14:14,960 --> 00:14:15,519
be in vogue.

262
00:14:15,679 --> 00:14:20,639
Speaker 3: And there'll be opportunities. So you mentioned children. Your children

263
00:14:20,799 --> 00:14:24,440
appreciate your attitude now or do you ever get some

264
00:14:24,519 --> 00:14:25,559
resentment for it.

265
00:14:26,600 --> 00:14:29,080
Speaker 1: I think it's mixed. I think I think the I

266
00:14:29,080 --> 00:14:31,039
think they have an appre The older they are, the

267
00:14:31,039 --> 00:14:33,720
more they appreciate it. The younger they are, the less

268
00:14:33,720 --> 00:14:36,960
they appreciate it. But they're all entrepreneurial, they're all problem solvers.

269
00:14:37,200 --> 00:14:39,799
And with any key kids you have, they're all over

270
00:14:39,840 --> 00:14:42,480
the one's better one thing than the other. But I

271
00:14:42,480 --> 00:14:44,600
think I think it's a mindset that they learned at

272
00:14:44,639 --> 00:14:47,960
a young age that's helpful and and at the end

273
00:14:48,000 --> 00:14:50,000
of the day, I think it'll it'll pay them, you know,

274
00:14:50,240 --> 00:14:52,320
it'll pay them a lot of dividends over time. And

275
00:14:52,399 --> 00:14:55,679
already one of my children I'm talking to is he's saving,

276
00:14:55,799 --> 00:14:58,120
you know, a percent of what he makes. He's in

277
00:14:58,200 --> 00:15:01,559
a four to one Cavelan Max and that out He's looking,

278
00:15:01,799 --> 00:15:03,440
can I buy a rental property? And I'm like, well,

279
00:15:03,679 --> 00:15:06,120
maybe a VRBL. Maybe there's something you can do where

280
00:15:06,240 --> 00:15:08,639
it's it's a higher return, it's more active, it's not

281
00:15:08,639 --> 00:15:10,919
as passive, but you have a little more return. You

282
00:15:10,919 --> 00:15:13,320
have time, or you have money, and you can train

283
00:15:13,360 --> 00:15:14,919
you don't have as much money, but you have more

284
00:15:14,919 --> 00:15:17,639
time than use your time to make money. I love

285
00:15:17,720 --> 00:15:19,720
it later life, use your money to make time.

286
00:15:20,279 --> 00:15:24,480
Speaker 3: Uh, that's it's such a simple thing, and yet uh

287
00:15:24,879 --> 00:15:27,200
it's so hard for most of you out there to grasp.

288
00:15:27,639 --> 00:15:31,039
So everybody go over to Ericweir dot com. That's e

289
00:15:31,200 --> 00:15:34,799
R I k W E I R dot com and

290
00:15:35,159 --> 00:15:39,279
you can get the book Who's Eating Your Pie? Highly recommended.

291
00:15:39,679 --> 00:15:42,919
Achieve every goal you set for yourself for the rest

292
00:15:42,960 --> 00:15:45,360
of your life. Not too big a promise, but it

293
00:15:45,399 --> 00:15:48,399
sounds like Eric is the person who can deliver. And

294
00:15:48,480 --> 00:15:51,120
if you got any questions for Eric or myself, shoot

295
00:15:51,120 --> 00:15:54,679
me an email kl at Carrie LUTs dot com. Eric,

296
00:15:54,720 --> 00:15:55,600
thanks for being on.

297
00:15:55,799 --> 00:15:56,559
Speaker 1: It's my pleasure.

298
00:15:56,600 --> 00:15:59,279
Speaker 2: Thank you very much, thanks for listening to carry lets

299
00:15:59,360 --> 00:16:04,200
this Financial Survival Network your solution to today's trying times.

300
00:16:04,559 --> 00:16:08,679
For the latest, go to Financial Survivalnetwork dot com. Financial

301
00:16:08,799 --> 00:16:11,960
Survival Network now more than ever,