If I Lost Everything, Here’s EXACTLY How I’d Start Over from Scratch

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• 3:46Speaker 05

  If you had to restart today from scratch, knowing everything you know now, what would be the first three money moves? So for me, I'll answer this question first.

• 3:56Speaker 06

  Yeah, yeah.

• 3:59Speaker 05

  For me personally, I wouldn't, I don't. You start from scratch, investing is not a top priority for me. Not to say that that's not something that, you know, but I feel like if you have no money, your priority, how you gonna invest money if you don't have money? Starting from scratch, I would figure out a low overhead service-based business. I'm just speaking from personal experience. I can only give you my personal experience. So like when I was, when I was in the financial services industry selling insurance, there's a lot of different stuff that you could do like this, like car insurance, life insurance, different type of, you know, service-based industry cuz I feel like there's always an opportunity to make money on commissions.

• 4:34Speaker 05

  And if I was dead broke, I would call my friends. Now, this is important. I wouldn't call my friends to ask them for money.

• 4:45Speaker 05

  I would call my friends to tell them what I'm doing. So when I started in financial services, I used to have a, it's called Project 100, where you have, you list 100 people that you know. Everybody, your friend, your friend's parents, your kid you went to college with, tomorrow you play basketball with, everybody. This is your network of people, right? So I would reach out to every single person that I know and, and tell them what I'm doing. And try to actually sell them products. Like I said, I mean, I can only speak for personal experience, what I actually did in real life. And then from there, I would hone in on my referrals and get referred to those people that they know,

• 5:30Speaker 05

  all while reinvesting the profits, living in as low-cost environment as possible. If living with your parents is an option, then that's, that's a good option, if whatever, rent a room, whatever you gotta do. Not spending money on overhead, reinvesting the money. Social media would come, but I would do, I will focus on social media afterwards.

• 5:52Speaker 05

  But I feel that the business aspect is the most important aspect first because you have to generate money to actually get into the groove of actually being able to invest. And a lot of people like, well, what kind of business should I start? Like I said, there's always room for a service-based business. There's always gonna be somebody that's gonna have to sell you car insurance. There's always gonna be somebody that's gonna have to sell life insurance. There's always gonna be somebody that's, you know, in that type of vein, health insurance, whatever it is.

• 6:23Speaker 05

  There's always money, there's always money to be made in a very short period of time. You don't have to go to college for these type of situations.

• 6:30Speaker 05

  And that's what I would do. So, but what would you do?

• 6:35Speaker 06

  Same as you, I can only talk from personal experience. First, you have to build a business cuz the higher returns that you're gonna get that are gonna outpace the market for sure is by starting your own business. After that, you gotta take, you gotta pick a number, 50%, 60%, put it into long-term. That takes care of your future number. So important caveat is that, too, and I know people hate when I say this, you have to stay your ass inside doors. Costs a lot of money to be outside and people don't wanna do it. And I get it cuz you are thinking about now. But I look back at all those seasons that I missed of going to games. Oh, I get that, have a ball and do what the hell I want to now. And then third, you gotta hit that futures market.

• 7:20Speaker 06

  You gotta pick a target that if your life is on the line, this is the target that I'm gonna use to be able to hit. And Red Panda, you know what that target is. But the three for me is start a business. Two, puts 50 or 60% of the money into stocks long-term. Third, trade futures. And if I can add a fourth, find a way to help other people first and get them a result so they can then come back and then pay me. The reason why I started with the Yes and Chat and started on social media back in 2016, 2017, just giving it away for free. If I help you make money first, I'll be able to call that favor back upon you later. So I wouldn't do anything different. But it's really important, too, the other part of this question,

• 8:03Speaker 06

  is to never get back to the point where you're started from scratch.

• 8:08Speaker 06

  Timing is important in some of this. Like Intel never thought they would lose that lead. And because they didn't keep reinvesting into the business and keep innovating, now you have five other players that are light-years ahead of you. Just because you are able to do it one time does not mean that you are able to do it again. Sometimes, timing, luck, and market fit is really important. When we first started doing the show, nobody black was talking about investing. Now, it's, boy, soiree. Cool. That's why what Mav is doing is so smart. Mav just. I'll tell you a thing, run the billy up. Then I'll tell you about the one time that eight billy in the book come out.

• 8:53Speaker 06

  That's my new move for 25 through 35. The next couple of plays y'all see publicly decoys. Never tell you the real play. Y'all gonna see me snowboarding. Cool. T. Shaw White on the hills. Cool. Y'all never tell you the real place. Sorry, you fucked it up. Sorry, Granny.

• 9:11Speaker 03

  Damn.

• 9:12Speaker 05

  We gotta talk about the snowboarding play too. Your comments was going crazy.

• 9:16Speaker 03

  They wasn't happy about that.

• 9:17Speaker 05

  It's not that they wasn't happy, a little surprised.

• 9:19Speaker 03

  A little surprised with you.

• 9:20Speaker 05

  A little surprised.

• 9:21Speaker 03

  I'll go with the.

• 9:26Speaker 06

  Why? Surprised at me?

• 9:28Speaker 03

  Yeah, yeah. You as well. I'm happy. I was happy for you, my brother. So shout out to Edwin. Me and Edwin was both happy.

• 9:38Speaker 03

  Shout out to Edwin. That's a little, I'll take the.

• 9:40Speaker 06

  But on top of that, then. Speed matters in execution. That's all we talk about here on Blackout, but.

• 9:49Speaker 05

  What speed matters? Speed matters, what? What you mean?

• 9:51Speaker 06

  And a good investment.

• 9:54Speaker 05

  You mean like to lock something down? What you mean? What you mean?

• 9:56Speaker 06

  Yeah.

• 9:58Speaker 05

  No, I'm jacking. I'm jacking.

• 10:00Speaker 06

  We'll go further in detail in Blackout.

• 10:04Speaker 03

  Right.

• 10:07Speaker 03

  If we're talking personal stories like.

• 10:09Speaker 06

  Yeah.

• 10:10Speaker 03

  Yeah. Mine would be like find a job that you can create multiple streams from. And so like, yeah, everybody hears the story of like, yo, I was a phys ed teacher. But before I was ever that, I was a hall monitor, bro. Like I was the guy sitting in the hallway, reading books, telling kids to go to class, checking for hall passes. While I was doing that, I was a tutor, right? I'm trying to find another stream. While I was doing that, I was coaching, right? While I was doing that, I was running after school programs. While I was doing that, I was running summer programs. And so I had like different streams of income. So like, not only was I getting paid for doing like, I don't even, it wasn't even much, but to be working in a school. Cause I just wanted to have experience working in schools. I created multiple streams from just that, which allowed me to put some money into investing.

• 10:52Speaker 03

  And obviously as my career changed and I became a teacher, then obviously, I mean, I still had those streams, but it was like, all right, now there's more money to invest. Then creating a business because I had enough to say, all right, well, I have this career. I can go venture off in the world of entrepreneurism. Um, that helped as well, but like, figure out how you're going to create multiple streams from where you're at. Right?

• 11:12Speaker 06

  Sure.

• 11:12Speaker 03

  And it could be like I said, hall monitor, no joke and no disrespect to anybody that's a hall monitor. I was that. You can create multiple streams.

• 11:20Speaker 06

  Yeah.

• 11:20Speaker 03

  Earners, what's up? Look, every purchase is a financial decision. So it's worth asking, what am I getting out of this? If you're using the Chase Freedom Flex Card, you can maximize your cash back on things you need. Groceries and gas, cash back. Dinner, cash back on that too. More ways to earn, more ways to get rewarded. Sign up for the Chase Freedom Flex Card. Learn more at chase.com slash get flex. This is a paid collaboration with Chase Freedom Flex. Cards issued by J P Morgan Chase and a member F D I C. Subject to credit approval. Offer subject to change. Terms apply.

• 11:56Speaker 03

  Earners, what's up? Look, building wealth isn't just about making money. It's about knowing where your money is working for you. That's why we partnered with Empower. Empower is all about helping you invest well so you can go out and live a little. Their free Empower Personal Dashboard gives you a complete view of your financial life in one place. Track your net worth, monitor your budget, analyze your investments, set retirement goals and more. You've worked hard for your money. Now make sure it's working hard for you. Download the Empower Personal Dashboard or visit empower.com. Not an Empower client paid or sponsored.

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  Apparently we celebrate.

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  Serious allergic reactions can occur. Get help right away for swelling of face, mouth, tongue, or trouble breathing. Don't change or stop medicines, including steroids, unless told by your doctor. Report if you have a parasitic infection, common cold, sinus infection, inflammation in the nose, blue or fluke like symptoms, joint pain or sore throat may occur. Carry on with fewer attacks and ask your doctor about Extenture. Learn more at extenture.com or call 1-833-393-3678. Hey, I'm Niall Rogers. This fall, I'll be driving across the country, meeting some of today's coolest and most fascinating artists. We'll explore the stories before the moments that changed everything.

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  Because every musician remembers the moment where it all began. Experience before the moment. A Lincoln original series on the iHeart radio app, YouTube, or wherever you get your podcasts.

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  Guaranteed human.