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Speaker 1: Welcome to another edition of the Chicks on the Right

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podcast where we talk to our BFF and sponsor of

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the show, Zach Abraham from Bulwark Capital Management, And today

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we're going to talk about like bro finance culture on

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social media. Because you're a bro and you're also in finance,

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and there's so many people out there giving advice. How

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are the young folks who are maybe just starting their

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careers or who are just dabbling or feeling like they

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should dabble into things like stock or crypto or just

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finance in general. Where should they be looking and where

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shouldn't they be looking.

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Speaker 2: Yeah, that's a great question, and I'll start off with

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a little bit.

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Speaker 3: Of an anecdote. It's kind of like the lay the groundwork.

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Speaker 2: And I'm sure you can relate to this anytime that

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you're speaking in front of people on a regular basis,

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or you're making in a public medium like radio or

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a podcast or anything like that. When when I first

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started doing that, there was an almost an insecurity or

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like a fear of saying something stupid or saying something inaccurate,

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because you knew that it was just going to be,

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you know, frozen into perpetuity and on the Internet and

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all that kind of stuff, and you know, and so

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and I still feel like that nobody, nobody wants to

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be an idiot and just completely put their foot in

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their mouth. And so you're really you know, looking through

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stuff and really trying to get it straight. And I

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was probably doing the radio for about a year and

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a half, maybe two years, and then looked around and went, oh, weird,

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nobody else feels that same pressure, you know, and and

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and it kind of shocked me because you hear people

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say stuff, you know, especially like when they get into

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your realm of expertise, like you know, finance and investing,

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and you hear it and you go, yeah, that's just

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really wrong, that's just one hundred percent wrong. And you

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say it was such confidence in bravado that you convince

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all these people.

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Speaker 3: So what that kind of did was it kind of opened.

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Speaker 2: Up my eyes from a whole different perspective, because I

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think there's this assumption that somebody sitting behind a camera

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or a microphone has done something to earn that position, Right,

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They're there for a reason. That's like the case, right, yeah,

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And that's just not the case, especially today. So when

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it comes to investing, I think that there are a

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lot of places to go to get really solid fundamental basics,

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you know.

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Speaker 3: I think Dave Ramsey is a great source for that.

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Speaker 2: I think that there's a ton of that responsible you know,

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you know, spending less, thing you make, saving, how to

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set There's a bunch of different systems, a bunch of

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different things to do. When you cross over into the

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world of investing, it's a completely different animal and it's

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one of the most I feel like, next to being

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like a professional football coach, it's next to being like

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one of the most frustrating professions because it is something

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that very very few people even in the industry, meaning

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the average. And this is this is nothing against it

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financial advisors. Technically speaking, I'm a financial advisor. But financial

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advisors are not investors. They are investment product or investment salespeople.

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And I don't mean sales like bad. I mean they

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don't actually manage your money. They put you in programs

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or funds where other people do. And so when you

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think about the world of investing, there are so many

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people that talk about it and there are so few

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that actually do it. Like, are you researching individual stocks?

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Are you making are you making investment recommendations. And the

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easiest way to see this is I could point out

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several people on social media that have actually incredible records

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at forecasting events and four casting market moves.

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Speaker 3: Then you go, right now, there.

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Speaker 2: You go, yeah, she's actually generating she's actually.

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Speaker 3: Generated some really good returns. Though, yes she has.

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Speaker 2: But but what's funny is then you'll go look at

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the accounts that they manage and the funds that they run,

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and the returns on those funds aren't anywhere near as

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good as you would think based.

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Speaker 3: On their forecasting.

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Speaker 2: Why is that Because actually investing real dollars is much

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harder and much more intimidating than investing theoretical dollars and

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telling somebody else what they should do.

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Speaker 3: It's it's just it's you know, you can imagine, you know.

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Speaker 2: I would equate it to going hunting and being the

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spotter versus being the shooter.

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Speaker 3: Very different experience, right, and so good analogy.

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Speaker 2: So the one thing I will tell you, and you

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can fight against this, and you can wrestle against this

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as much as you want.

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Speaker 3: Do not follow anybody that knows.

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Speaker 2: If they know what's gonna happen, or they know how

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it's gonna work out. I don't care if it's a stock,

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I don't care if it's bitcoin. Where certainty is the

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hallmark of the Charlatan. It's one of our favorite sayings

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of Bulwark. Certainty is the hallmark of the Charlatan. Why

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because nobody knows, and the only guy whose opinion is

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worth nothing is the one who has certainty to period.

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Speaker 3: And then what happens.

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Speaker 2: He'll get one or two calls right, or she will

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get one or two calls right, and everybody's like, Oh,

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they're an oracle. No, it's dice, it's a it's Vegas

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crap's luck. If you walk up to a crabs table

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and a guy hits black five times in a row,

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are you gonna think he's the paragon of betting knowledge

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and he's unstuck. No, you're gonna be like he's on

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a run. Okay, Well, same with investing, and it's tough.

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The guys you want to listen to are the guys

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the caveat themselves. Stan Rucken Miller, in my opinion, the

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greatest investor to ever do it at scale. You ask

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Stan at any given moment what he thinks is going

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to happen. He's like, well, this is what we see

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right now, but I reserve the right to reverse my

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opinion at any time because things you're always changing.

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Speaker 3: And that's just that's just the truth.

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Speaker 2: Like people think he's holding his cards close to his

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vest right, he's not trying to give away a secret. No,

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there isn't any that's that's just there is no certainty

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for anybody that's shopping it to you disavow them. But

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other than that, I think it's you know, Dave Ramsey

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is a great source of information. Again, I think Dave

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is great for how to set up your financial life.

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Not a fan of debt right, yes, yes, not a

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huge fan of his investment, his investment what he says

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about investing. For instance, he says, go buy a low

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cost mutual fund in your average twelve percent a year.

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Speaker 3: And no you won't. You will not. I have no

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idea what mutual.

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Speaker 2: Fund he's talking about, or what time fragment he's looking

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or time segments he's looking at.

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Speaker 3: But if you go do that over a.

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Speaker 2: Long period of time, if you're US cap based, that

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mutual fund, mutual fund is probably going to perform net

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A fees around nine to ten over an extended period

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of time.

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Speaker 3: Right.

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Speaker 2: Dave Ramsey also says you can pull ten percent per

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year out of your retirement savings. In certain circumstances, you can,

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but in most cases you can't. So anyway, Yeah, there's

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so I think Dave is really good. The way I

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would look at is, I feel like Dave is a

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very good framer, right, builds a really good structure. I

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wouldn't hire him for finished carpentry. That's kind of the

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way I put it. Yeah.

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Speaker 1: Yeah, have you ever watched any of Caleb Hammer's videos.

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Speaker 2: The name sounds familiar. I've probably seen it at one point.

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Refresh my memory.

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Speaker 3: What did he talk about? You have?

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Speaker 1: I mean, because he basically he also tries to help

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people manage debt primarily, but he absolutely shames them, like

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so he has his guests like sign this huge waiver

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that says, you know, I'm going to mock the shit

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out of you basically if you can't do anything about it.

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But he does genuinely help people, and particularly the highlights

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that you often see on social media from him are

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people that are just making a ridiculous amount of money

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through taxpayers, like a ton of you know, former military

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who are on disability through you know, taxpayer dollars, and

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so he shines kind of a spotlight on how much

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they can make and how much they can mismanage it.

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And it's just super interesting.

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Speaker 3: But I wondered if.

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Speaker 1: There were people that are in that younger sort of

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gen Z age group that you've noticed, who you would

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be like, yeah, that person's you know, that person's offering

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some good advice, or if you would stick with the

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old school folks like you mentioned.

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Speaker 2: Well, I mean there's this, you know, I there's this

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one podcast out there called Know Your Risk Podcast.

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Speaker 3: I mean, I think it's phenomenal. I love that one.

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Speaker 2: I'm a huge fan. I think the lead host is

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a little bit annoying, but other than that, some goodful no.

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I you know, I'm trying to think right now on

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the investment side, I don't all the stuff I listen

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to is much more high level, like researchy stuff like

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stuff that probably make most people I roll over, And

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so I'm not really up to date on those. I

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know there are several, but here like, here's the thing,

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especially for young people, And I'm just gonna level with you.

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Anybody who's advocating a quick, easy way to do it,

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do not listen.

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Speaker 3: And and here's the deal.

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Speaker 2: You can spend years of your life chasing that, and

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you're gonna end up coming back around to what I'm

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telling you anyway, or or you can be smarter than

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other people are.

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Speaker 3: You can be smarter than I was to some extent.

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Speaker 2: Meaning you know, I've probably wasted the first eight or

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niney years of my careers is being stubborn not listening

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to people. But but look, like I said, if anybody's

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telling you it's an easy, quick plan that anybody can

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you know, easy quick plan everybody immediately you know that's

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wrong because if that was the case, everybody would have already.

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Speaker 3: Done it, right, that's right, Well, that's exactly right. But

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here's the deal.

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Speaker 2: If you're willing to work your tail off, all right,

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and you're willing, most importantly in the culture today, if

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you can put your financial ego behind you, meaning quit

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caring about what people think, because everybody around you is

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a financial idiot. The average American is leveraged to the

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freaking hilt. And I'm not trying. I am not a

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wealthy human being. You know, Wealthy to me is when

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you can quit working and still live your same lifestyle.

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I'm not there yet, but I've been blessed and been

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abnormally successful for my age. I'll just tell you right

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now the stuff that everybody. Once you get, once you

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get the perspective or the ability to buy a lot

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of those things or do a lot of those things,

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you realize how stupid it is. You realize that there's

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nothing to it. That car is not going to make

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you happier than that car. That watch is not going

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to make you happier than that watch. Doesn't mean you

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can't have nice things. What it means, though, is that

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that's your aim. Just listen to me. I didn't say

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you're going to be a bad dad, didn't say you're

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going to be a bad husband. Said you're not going

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to be happy, You're not going to be fulfilled. Right, Yeah,

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So break that strand now. Don't care what people think. Financially,

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if you can get to that place right now, if

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you want to guaranteed financial outcome that is better than

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ninety five percent of society, Quit caring about but what

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people think, right, don't go buy great advice, Yes, don't

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go buy a new car. Everybody's like, what should I

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do with cars, My advice will never change. By a

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hondre of Toyota with sixty to eighty thousand miles and

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drive until wheels fall off, period, or even one hundred

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thousand miles, if it's been taking good care of right,

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get rid of your ego. We have another saying a bulwark,

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get rid of your ego because they're really expensive.

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Speaker 3: Right, that's so true.

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Speaker 1: And these are the pearls of wisdom that people can

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get from the Know Your Risk Podcast.

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Speaker 3: Yes, look at that the Queen of transitions there.

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Speaker 2: Yeah, so anyway, yeah, reachus at Know Your Riskpodcast dot com,

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Bulworkcapitalmanagement dot com.

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Speaker 3: We got another one of our road shows coming up.

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Speaker 2: I want to say, in two or three weeks, and

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you can sign up for that for free at Bullworkcapitalmanagement

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dot com. Little prompt comes up and we're not going

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to twist your arm, not gonna call you on the weekends.

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If you like, we have to say, you can talk

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to me or one of our advisors and if not,

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hopefully hopefully you'll leave knowing a little bit more than

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you came in.

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Speaker 3: So that's right, that's always the goal. Thank you, Zach,

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appreciate it all right, Thank you thanks for having me.

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Investment advisory services offered through TREK Financial loc and SEC

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Registered Investment Advisor.

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Speaker 2: The opinions expressed in this programmer for general informational purposes

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only and are not intended to provide specific advice or

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recommendations for any individual or on any specific security. Any

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references to performance of security so it thought to be

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materially accurate and actual performance may differ.

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Speaker 3: Investments involved risk and are not guaranteed. Past performance doesn't

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guarantee future results. TREK twenty four three zero eight