The 100 Year Money Reset Almost Nobody Is Watching with Dave Alexandre

Dave [00:00:00] The league is growing

Amos The league is growing. Okay.

Dave Right? You're adding more teams, you're getting more TV rights. Okay. So money is coming in-

Amos Okay ...

Dave because the product that you're putting on the floor with the Caitlin Clarks and the Angel Reeses and the A'ja Wilsons and the Paige girl, it's growing the game.

Dave So I think now that the negotiations and the, and the CBA is up, it's ... if you're not gonna ask for more money now, when are you gonna ask it for?

Amos All righty, another episode. And as you can obviously see, we've got a fan favorite here, Mr. Dave Alexander, financial advisor. Author. Author. Father. Father, brother, spouse. And the list goes on. All, everything else. And the list goes on. So, Thank you for having me.

Amos Nah, it's welcome, man. Welcome, man. And, and when you and I get together, we always have these lovely conversations. Without

Dave a doubt.

Amos If it's about current events, if it's about just money and what's going on in the world. How

Dave can we make more?

Amos How can we make [00:01:00] more? How can we put more money into clients' pockets?

Amos How can we educate people more? Right. We're always having these conversations. Correct. So you brought up a topic. We were talking offline, so I, I definitely wanted to reach out, I mean, talk about this. player deals, right? Right. What's happening in the sports world is- Yeah ... wild.

Dave Yeah. the WNBA, right?

Amos Yeah.

Dave the word that the league tries to use is sustainability. Now, the players that have recently came in, like a Angel Reese- Mm-hmm ... Caitlin Clark, they brought a lot of attention to the league.

Amos Yeah. Right? Attention that they weren't getting before. I mean, they were getting a lot of attention, but-

Dave Not that type of attention

Amos not this type of attention. No, not at all. They- Superstars out the gate.

Dave Yeah. You have celebrities at the games now. Mm-hmm. it's getting a lot of coverage on ESPN and these networks. Mm-hmm. So they, they've helped grow the game. And I mean, these girls are making $75,000 a year for their rookie contract for four years.

Dave I, I

Amos saw that. Yeah.

Dave Their off the deal contract, like I think Caitlin Clark's Nike deal is $16 million.

Dave She could have stayed in school and made more money NIL-wise. Right. Same [00:02:00] thing with Angel Reese, right? Okay. But it is, the goal is to become a professional, right? Mm-hmm. That's what you do it for.

Dave And lucky for those two, they have enough off the court deals that, they're not taking a hit.

Amos Okay.

Dave But the rest of the league, I think that the max salary for a player is 250,000, and they're saying that the league isn't profitable, but,

Amos But I mean, I'm a, I'm a big believer, it may be popular or unpopular, but I'm a big believer you get paid in direct proportion to what you, what the market says and what you bring to the table, right?

Dave Without a doubt.

Amos And I mean, look, you already hit the nail on the head. it's not profitable.

Dave That's what they say.

Dave Right? Uh-huh. But y- look at the, the TV deals. You're talking about in the billions.

Amos True.

Dave Right? So now the CBA for the WNBA is up- Mm-hmm ... and they want, profit sharing.

Amos Okay.

Dave So you- Similar

Amos to what the guys have, I think,

Dave yeah. Right, correct. and I think this is another thing, right? For me, at least. Mm-hmm. Until I had a daughter- Mm-hmm ... I never really paid attention to- ... what women make. Uh-huh. To be honest with you, right? Uh huh. But now when you look at it and I go, you know [00:03:00] what?

Dave I wouldn't want my daughter getting less money for doing the same job that your son would be doing.

Amos But, but is, is, is it, is it, is it really the same job, though? I'm all about equal pay, but I'm also all about... I think as a, as an employer and, an owner of companies and that, you really, you may go into things one way, but then you quickly start to understand how things work.

Dave Right.

Amos And the reality is, if one brings this amount of revenue and the other one brings this amount of revenue, like, there's no way I can pay you the same amount because you don't add the same amount of value. Your replacement value is not as high as this one's. God forbid, l- no, let's say Angel Reese is no longer there, right?

Amos That's fair. It will be tough for the WNBA-

Dave Right ...

Amos but there'll be somebody else that they can bring hype around. If LeBron, let's say, around the same time, he's, second year in the league or whatever it may be, was gone, that's hard to replace- I- ... that revenue, man ... I

Dave don't, I don't [00:04:00] argue there, right?

Dave Mm-hmm. I saw a, I saw a stat the other day. When Michael Jordan-

Dave came out of retirement-

Amos ...

Dave in, what was it? I believe, like, '94, '95.

Amos Okay.

Dave He generated It was $6 billion. So Nike did three billion, the NBA did two. All his other endorsement partners, we're talking about Gatorade- Mm hmm ... Hanes-

Amos jumped up 200% in profit.

Amos Meaning, okay, okay, their profit-

Dave Right ...

Amos from having association with him.

Dave With Jordan- Yeah, yeah ... coming back. Yeah. All that revenue-

Amos ...

Dave created, right? And they were saying at the time, like, he was asking for 30 million, they thought it was crazy, and now you have guys that are nobody making 300 million- Yeah, yeah

Dave contracts, right? So with the WNBA situation, not to get away from that- Mm ... the way I look at it is this. If a W- a professional player-

Amos ...

Dave has to compensate income by leaving to go play overseas with, like, a Brittney Griner- Mm-hmm, mm-hmm, mm-hmm ... where she gets in trouble with Russia, if she didn't need the [00:05:00] money and she was making, call it, 250 a year-

Amos Okay

Dave does she necessarily need to go overseas? Does she necessarily get in trouble?

Amos I mean, she got in trouble because of decisions she made. That's two separate things. But, but- Yeah ...

Dave I agree. Yeah, yeah. I agree. Yeah,

Amos yeah.

Dave What I'm saying is, but she's overseas-

Amos Mm ...

Dave hustling to make more money because she needs to compensate what she's not making playing professional in the WNBA.

Amos But, once again, man, I'm very, like, blunt with things, right? Yeah. I'm very black and white with it, and I... And that's been over the years, this happening, but it's still a choice. Like, you don't... If you're not making enough and you feel like this isn't gonna pay you, then you have other career options, right?

Amos You don't have to play- Play basketball ...

Dave sports.

Amos Now, you've made the choice of what you're gonna play. I don't think anyone was surprised when they got drafted into the league-

Dave Mm-hmm ...

Amos and were paid what they were paid, because people were getting paid X amount, and you're hoping to get increases [00:06:00] over time.

Dave Well, I don't... I think that the WNBA is the platform, like the commissioner said.

Dave What you do and how you utilize that platform- That's on you, right? ... to bring you other opportunities, right? yeah,

Amos yeah.

Dave But again, so take a look at this. A'ja Wilson

Amos Mm-hmm ...

Dave probably the best player in the WNBA.

Dave She's won MVP a couple of times- Okay ... and a championship. She didn't have a sneaker deal until Nike gave Caitlin Clark a sneaker deal.

Amos Okay.

Dave Okay. So you have this, this rookie coming out of college, phenomenon, who Nike goes, "We wanna attach our brand to her."

Amos Because she's got a following. She's got people glued to the TV wanting to watch her.

Amos Mm. And Nike can slap their logo on her somewhere or have her wear their shoes, and people will associate her with Nike.

Dave But it's the same thing. People were crying foul that they didn't... Why doesn't the best player who's currently in the WNBA now already have a deal in place?

Amos But that's my point. Being the best player doesn't mean you're the most profitable person.

Dave That, that, that goes hand-in-hand.

Amos I agree. And it's a business deal. Nike isn't in the [00:07:00] business of sports.

Amos Meaning they're not like, "Hey, we need the N- WNBA to do well." Nike probably, and we say Nike in America, right? Nike probably doesn't care-

Dave Right ...

Amos how well the WNBA does. What they do care about is- How

Amos how their players perform

Dave In the WNBA ...

Amos that's just the bottom line. The WNBA cares about how their players perform and the individual teams.

Dave so let's, let's rewind it back.

Amos Yeah.

Dave So Michael Jordan, 1984, gets drafted.

Amos Boom.

Dave The hottest sneakers out at the time are Adidas- Adidas and Converse as well ... and, and, Converse and...

Dave No, I don't think Puma was in, in... Yeah, Puma had some, some contracts,

Amos right? Adidas was, like, the big name.

Dave Right.

Amos Yeah, yeah,

Dave yeah. Right. So, so Nike takes a chance- Mm ... and they're hoping to make, what is it, $3 million the first year- Mm-hmm, mm-hmm, mm-hmm ... on the Jordan brand.

Dave And it explodes, and I don't remember the exact figures, but now they're like, "We have something with this particular person," right?

Dave Mm-hmm. and even credit to [00:08:00] Michael Jordan and his moms for having the foresight- Yeah ... to be able to negotiate- Correct ... a deal that had never been-

Amos Correct ...

Dave negotiated like that- Correct ... in that space. So now you have players that are copying that or, or- Mm ... revisiting it and making it work for them.

Dave So I think the issue when you're saying is, is, "Is it profitable?" We don't have the numbers in front of us, but- The league is growing

Amos The league is growing. Okay.

Dave Right? You're adding more teams, you're getting more TV rights. Okay. So money is coming in-

Amos Okay ...

Dave because the product that you're putting on the floor with the Caitlin Clarks and the Angel Reeses and the A'ja Wilsons and the Paige girl, it's growing the game.

Dave So I think now that the negotiations and the, and the CBA is up, it's ... if you're not gonna ask for more money now, when are you gonna ask it for?

Amos No, I ... No, I'm, I'm always down for it, right? Always ask for more money, but also understand the value you're bringing, and also understand it's still a business, right?

Amos That's the reality, right? So the [00:09:00] way I see it is, man, I can't remember what the term is, and I should know this, I'm a math guy, too, where you have two independent situations.

Dave Right.

Amos There, there's a point where they meet in the middle, right? And it's kinda like this part in the middle, right?

Dave Right.

Amos Where they meet in the middle, and there's a mutual benefit for them both.

Amos I get it. So WNBA or NBA is here, and then you've got the, the brands are here, right? Independently- Right ... WNBA doesn't care what Nike does. They don't. Nor does Nike care what WNBA does in the general scope. But there is a part where they do-

Dave Align ...

Amos meet. Align. Right? So for me, when you go into these negotiations, you go into these negotiations saying, "Here's what I bring to the WNBA."

Amos And when you go to the negotiations with the brands, "Here's what I can bring to the brand."

Dave so then if you were to have a daughter- ... and she's- At the height of her college career like a JuJu Watkins, who's playing for USC-

Amos Okay ...

Dave making millions in NIL.

Amos Okay. [00:10:00]

Dave Is there a rush for her to go and play professionally?

Amos I would sit down with my child and have a conversation about the projected- She's already

Dave a millionaire.

Amos But it's still, it's what you've got now, but it's also your longevity, right?

Dave Correct.

Amos if she goes in the league, it gives her another exposure, 'cause there are people that watch the college sports- Thousands

Amos and there's those that watch the professional sports- Right ... and there are those that watch both, right? if you only stay in the college sports and don't go further, then it's a situation. I think your question is when do you go to the league, essentially?

Dave Right. so because if she's a freshman, and I don't know her NIL deal- Mm-hmm

Dave and she's making, $2 million.

Amos Uh-huh.

Dave Right? The biggest superstar in the WNBA right now, whether you call it Angel Reese or Caitlin Clark- Mm-hmm ... is making 75,000 as their salary.

Amos But they're making 75,000 in exchange for going to school.

Dave No.

Amos No,

Dave no,

Amos no. That's, that's the way I trade it. Because if you were getting an NIL deal [00:11:00] in college-

Dave that's separate from your day-to-day time when you're going to school.

Amos That's separate. If you leave college and go to the s- NBA, you get an endorsement deal. Same thing, same trade, right? One for the other. You, you trade your NIL for the-

Dave not necessarily, though, because I already have. if I'm JuJu, I'm in college and I'm already signed to Nike.

Amos But I'm in college paying for tuition or maybe getting a scholarship.

Dave I'm getting a scholarship.

Amos I'm getting a scholarship, and I'm getting an NIL deal.

Dave Right.

Amos When I go to the league- I'm getting- ... I'm getting a salary to play the sport that I wasn't getting paid for while I was in school- But you are now

Amos and I'm also getting an endorsement. But that's what I'm saying. So back to your question, right? Does it, w- when would you tell your child to transition? To be very honest with you- Do you max it out now? 'Cause there's no rush. If I'm not gonna make...

Dave If I'm making millions and I'm, all I gotta do is go to school.

Amos there's always a rush because there's no guarantee that you will get it. There was this story, what's his... It was, I think it was Worldwide Wes. Mm hmm. his [00:12:00] nephew, I think it was. I think it was. I'm, forgive me if I'm wrong with the characters, but short of the long is, the kid was lights out in college, like, just lights out.

Amos Right. I mean, high school. He was lights out in high school, lights out. And, instead of going to college, he went to the league.

Dave Right.

Amos He played one year. He got paid, what, like a million or three mil. Blew out his knee or something, never played again. And that's where opportunity risk comes from. So- Opportunity cost, did I say?

Dave So-

Amos Or maybe the risk of staying in college, right? if he was gonna stay

Dave We're in a different time though. So what I'm saying is I don't s- I don't see it as opportunity risk, because if I'm, if I'm Juju's parent and she's making $3 million a year right now- Uh-huh ... as a freshman, and this deal with Nike is already set in place for four years.

Dave Uh-huh. So that's a guaranteed 12 million versus going pro next year to get 75,000 as a rookie deal, and she's already got the Nike deal in place. Where's the incentive to leave school? Just to say I'm a professional player. I get

[00:13:00] the same attention from social media and all these other outlets. I'm doing interviews as if I'm already pro

Amos I think the, the thing is, though, if you get injured the year you decide to go pro-

Dave And Juju got hurt.

Dave she tore her ACL,

Amos so- That could really... Not, forget your WNBA or sports aspirations, because that's not what we're concerned about. That's where you're getting the least pay, right? Right. You're getting 75 grand. You're more concerned about the endorsement deals. Like, the endorsement deals are there because you have a face that people constantly see.

Amos If your face is nowhere to be seen- Right, no one cares ... you lose your endorsement deals. Correct. I would say, though, and there's no guarantee you can recover from this injury and get back. yo, I think it's also depending on what your child is studying, what the long-term aspiration was. If it's, "Look, I'm trying to get to the league," okay, great, you can always go back to school.

Amos School isn't going anywhere. In fact, they'll probably give you school for free again just to say because [00:14:00] you're going to this school. Right. You could probably go to a c- a better college- ... for the academics- No lie ... because of your name. Yeah. For me, and this is where I am right now, it sounds like it makes more sense to make the transition earlier, and you can keep building.

Amos Now, if it's a thing where you're not built for the league yet. That's different. Like, you're gonna go in and you're gonna get bullied and all that. Right, right, right. That's gonna look bad for your reputation. Stay there. Maybe you stay a little bit, bulk up, whatever you need to do. Right. But I think you gotta really weigh it out, man, because- Yeah.

Dave I think, like, when you, when it comes to NIL- Mm-hmm ... look at what Trump is trying to do. He's trying to stop it.

Amos Do, pause real quick. I just wanna make sure. Cool. I was, paranoid. As long as that red is there, we're good. Yeah. All right, cool. Go ahead. Trump is trying to stop it, you said?

Dave Yeah, he's trying to put an end to NIL.

Dave Why? Because you have so many young kids. They, they were showing a parking lot, I forget which university.

Dave You talk about Corvettes, Lambos, and Bentleys.

Amos What's the negative of a NIL deal? I [00:15:00] mean, our kids- Mm. I mean, the education system in itself has an issue, but are kids not studying anymore?

Amos Are kids not, going to classes anymore? Like-

Dave None of that... Listen, none of that's changed ...

Amos Does it, doesn't it encourage kids to finish their four-year or five-year course?

Dave It does, but again, who's the, what's the majority of the people that are getting NIL deals in college? The majority are the athletes.

Amos Yeah, yeah.

Dave Right? I mean,

Amos yeah. It's a

Dave certain demographic.

Amos It's the NC- it's for the NCAA athletes, right? Yeah.

Dave Right. So but the big-time players are of what demographic?

Amos Okay, I see what you're saying.

Dave Right?

Amos I see what you're saying. So

Dave now you go, "Whoa- We're making millionaires before they even get to the league.

Dave Let's put a stop to that

Amos I think- That

Dave shouldn't be the case ...

Amos I mean, will, will they be able to do that inevitably? God knows. While it's here, though,

Dave so- So let's, let's transition to politics.

Amos W- w-

Dave For one second ...

Amos I always, I, I always avoid the politics part, but I do wanna [00:16:00] say this.

Amos Doesn't that strengthen the argument to transition to the league earlier? if there's rumor that they're going to try to stop this, and I think it's gonna be very hard because it took so long just to get it. So if there's rumor they're gonna do it, wouldn't you as a college, a collegiate athletes, athlete say, "I need to transition now-" It did

Amos to guarantee my pay"?

Dave In, in, in the men's sport, maybe because the pay range is substantially different, right? So but again, the reality of it is- Mm-hmm ... if I'm a hotshot-

Amos ...

Dave collegiate athlete- ... I'm already making millions of dollars, right?

Amos I'm making it because they allow for the NIL deals, right? If they take that away-

Dave But there's, there's no

Dave I need to transition ... there's no way that they're gonna go back to a system where- There's no way ... these

Amos kids don't get-

Dave Yeah ... paid for their name, image, and likeness. Maybe- That's gonna happen ... I

Amos think if anything, they will cap it. But- Yeah ... Right. That's typically- Because- ... the way you slow things down

Amos right ... yeah.

Dave the reason I wanted to, to, to transition.

Dave [00:17:00] Like him, don't like him- Mm ... don't care if you vote for him- Mm-hmm ... didn't vote for him. President Trump-

Amos Mm-hmm ...

Dave is playing chess at a high level.

Amos I think people are not realizing there's... Because there are two worlds we live in.

Dave Right.

Amos And I've been saying this to people, and I've been trying to talk to clients about this without getting into politics.

Amos I try to explain to them, the news will show you what they, they, which side they want. There's the world we live in, and there's the real world.

Dave Right.

Amos And the news will show you based on the world you live in. Right. But there's the real world where real moves are getting made. A lot of these things are happening, they're not happenstance.

Amos the way the tariffs occurred, they weren't, just because. Right. No. I mean, this, it was done in a certain way strategically- It was calculated ... for a period of time, and the wildest part is,I, one of my favorite analogies is, beware of, wolf in sheep's clothing, right?

Amos Right. And then I came up with another one, I feel like I came up with it, which is beware of sheep in wolf's clothing, 'cause you [00:18:00] get a lot of that, right? Right. People that are out, they're not supposed to be here, but they're here- Right ... because they pretended their way there. Okay, back to the wolf in sheep's clothing Like they'll tell you what they're doing.

Amos I feel like we've been told, "Here's how long the pain is gonna be for." Right. "Here's what's gonna happen." And no one listens to it. No. People just focus on, like, the other stuff.

Amos If you listen to what's being told, there's opportunities there for you, man. But go ahead, what were you try- So- Where were you going with it?

Dave I, when I'm saying chess at a high level, I'm looking at what he's done in the Supreme Court.

Amos Okay.

Amos Okay. So you have, Okay ...

Dave Republicans.

Amos Okay.

Dave He's planning on having them step down-

Amos Uh-huh ...

Dave giving them another position-

Amos Uh-huh ...

Dave to put in two young Republican judges.

Amos It's a long-term game. It's a long-term game. So

Dave you're not gonna... People think, "Oh, we'll get another president, and they'll undo-"

Amos No, no, because you still have to go through different things.

Amos Yeah, yeah.

Dave Right? So it, it's like, it's... I'm not gonna say he's a genius, but again, he's playing chess at a [00:19:00] high, high level and, and most people aren't even aware of, of what's happening.

Amos I say to people all the time, right, like you said, like, hate, it doesn't really matter-

Dave Right ...

Amos at the end of the day, right?

Amos It's-

Dave He's the president.

Amos Yeah, it don't really matter that, but what really matters is what can we learn from what's happening. You don't have to like someone to learn from someone.

Dave No.

Dave Right.

Amos And- Right, take notes ... if it, I, I take it back to like the Kim Kardashian situation and all that, right?

Amos People that are villainized a lot, I'm not saying I like them, I'm not saying I don't like them. Right. But what I am saying is it doesn't make... Ooh, ooh, what just happened? Lights off, and we're gonna pause. Man, there's always something, Dave.

Dave I mean, it comes with the

Amos territory. Welcome back. Yeah, so, Had to take a quick commercial break

Amos quick one. A quick, quick, quick one. back to what you were saying, 'cause you were making a point here.

Dave so I just think, like you said, you see the real world and the world we're living in, and people aren't paying attention to what's really going on. We're, we're on the verge of the reset of, of new systems.

Dave You can

Amos [00:20:00] see, Cohen's advisors

Dave called out what the US is trying to do with crypto, as far as resetting the debt and washing 37 trillion-

Amos Through crypto. And he's

Dave done it. He's like, "They've done this before."

Amos Hey, hey, look, the genesis of crypto, black market. Well- That's the reality ...

Amos but I- So- ...

Dave I think it's the biggest thing, right?

Dave They say the financial system resets every 100 years.

Amos Okay.

Amos What does that mean? What does that

Dave mean? So, so we went from bartering- Uh-huh ... gold- Uh-huh ... to the dollar.

Amos Okay.

Dave Then the dollar was backed by gold. Then it wasn't backed by gold, right? Correct. Okay. So now we're at that point where if you take a look, right, the president's family is heavily-

Amos yeah

Dave invested in crypto. They, they're in a defi- Mm-hmm ... system, right? They've got their own bank now.

Amos Mm-hmm.

Dave which tells us things are changing, right? Mm-hmm. That this, you're moving money at the speed of light with these different companies. But- I, I do think there's some truth to what Putin's advisor said because you're gonna go, "Okay, look, the balance sheet is now all [00:21:00] Bitcoin and XRP, and- And

Amos the value of Bitcoin could go down, it could Go up.

Amos Yeah.

Dave And, and we'll back it by a stable coin which is tied to a treasury.

Amos Uh-huh.

Dave So yeah, that 37 trillion we owed you is now, like, five.

Amos Yeah.

Dave And we're good.

Amos It had a collapse in the market.

Dave Right, right. Yeah. so they... But, but, but think about the Gustavos it takes to be able to call him out on that move ahead of time and see.

Dave 'Cause you're, they're like, "Wait, this looks so familiar before. Where have we seen this play?" But I think that that's the thing, though, right?

Amos It's, And only certain people are gonna have these type of conversations, right? Right. Like you and I will have these conversations. We're in the world of finance, but, and the everyday person will not have this conversation, not because they don't understand it.

Amos Right, that's- Like, that's, that's a different thing, but you're n- you're not looking at it. Right. Like, it's happening in front of you-

Dave Right in front of you ...

Amos and we allow ourselves to be led down a path based on whoever we're listening to at the [00:22:00] time.

Dave I just saw a clip. They said Disney is even teaching their kids about the new financial market.

Dave Uh-huh. So in the new movie that they made, there's two characters. The female's name is something Lumens-

Amos ...

Dave and the male character is Wade Ripple- ... which is the two- Like, yeah, yeah, yeah. ... points, right? So you have Stella Lumens, you have Ripple the company. there's, it's- I love this ... it's always in front of us if we're only paying attention.

Amos When are you coming out with your movie, man? There's- Oh, oh man. Get

Dave out-

Amos Oh, man ... because don't, I mean, y- with your book, a- 'cause what it says, just hearing that makes me think about your book.

Dave Yeah. I mean, look, I, I think it's, it's sitting down- Mm-hmm ... and, and I've wrote out episodes for the cartoon. Uh-huh.

Dave Now we're talking about short plays and movies and different formats- Mm-hmm ... of the information. It just takes time, and you gotta get in the writer's room and, and get the right inspiration. It's not, that's not just you sitting down like, "Hey, I just wanna-

Amos Yeah ... I wanna

Dave write a movie." Put a

Amos book out there.

Dave Let's go. Right? So I, I just think it, y- the inspiration has to be right, and you have to have the right people around you- Mm-hmm ... because you have to put [00:23:00] out a good product.

Amos No, very right. Very right. So th- there's just so much going on, and I think the theme of what we're talking about, really, going from the, the, what's happening with the, sports side- Sports

Amos what's happening

Dave on the political side- It's all financially related, though ...

Amos it's all financially related, and I think the biggest challenge for a lot of us is, we're not taking time to really just educate. We had this conversation before- Right ... where it's where do you get the education.

Amos Man, the same place you can get education about A, you can get education about B.

Amos Right. It's how deep are you looking into it? Most people are just at the shallow level, though. That's it, and the, and, but the thing is, yeah, if all I do is swim in the shallow end-

Amos and I can't swim in the ocean, whose fault is it? If I never allow myself to progress, because it's a choice.

Dave it is a choice, but the world we live in now has also-

Amos Oh, my gosh

Dave has also killed attention spans

Amos We can't blame the world-

Dave Like even

Amos this ... or outside forces like that for [00:24:00] ourselves.

Dave We're giving people all this game here- Mm-hmm ... on the platform, and they're only gonna catch the 30-second clip on Instagram.

Amos Yeah. Yeah. How

Dave many, how many people are gonna sit down and watch a whole episode to, to process all the information?

Dave It doesn't mean that we're not touching people. What I'm saying is they're only getting the clip that we decide to share with them.

Amos And honestly, you're right. i- in terms of that sense, you're right, because even when I listen to some podcasts, I mean, the first thing I look at is how long it is, as the very first thing.

Dave Do I have... Do I wanna invest my

Amos time- This type of time ...

Dave into this?

Amos or let's say I listen to a lot of things when I drive, right? I don't listen to a lot of music. Most times I listen to, like, I

Dave need my music sometimes.

Amos yeah. Okay. Sometimes for me, when I feel like I need to declutter-

Dave Right

Amos then I'll listen to something like. But most times I listen to something motivational, I'm listening to education about something about real estate, finance, whatever it is. Right. '

Dave Cause you're continuing, you're a student in the game. Yeah. You wanna continue to learn. I'm always learning. I might [00:25:00] know this, but what, how can I do this differently?

Amos Yeah.

Dave I know nine ways, but there's another way

Amos to do it. There's another way to do it. This cannot be the only way. So the reason I say that is, but I'm deliberately furthering on, maybe because it's interest, maybe it's also because of what I do.

Dave I think you just, you're a student of the game. You just wanna perfect your craft.

Amos But I think like at all levels, all of us need to know how to tread water, and you can't learn how to tread water on shallow water. Meaning, if I'm standing up and the water's at my stomach height, I can't learn to tread water there. It's gonna be very hard to do it on my knees like that, right?

Dave I agree.

Amos So what I'm saying, though, is to tread water, I need the water to be at a certain height.

Amos Everyone should have a certain level of education when it comes to money if you want to be in a better position financially. Mm. It doesn't mean I wanna go from making 50 grand to 20 million.

Dave It doesn't- It just mean

Amos happen

Dave like that.

Amos No, it just means how can I make my 50 grand-

Dave Stretch ...

Amos [00:26:00] go- Well- ... without feeling

Dave Again, that's gonna-

Amos From a basic level ...

Dave that's gonna come from, from our prior discussion. Who's around you?

Amos Once again, Matt, I agree with you on that, but it's the same for if I wanna go play sports right now, right?

Amos And I look around me, I have no one around me that's an athlete. I'm gonna go find someone that can teach me how to play sports- Mm ... outside of my circle.

Dave so here's the thing.

Amos It's a decision you have to make.

Dave I don't disagree with you, right? Mm. And I use myself for an example. When I was playing high school football, my friends were getting letters from- Mm

Dave all these schools, right? And I'm like-

Amos Oh, man. That's- ... "

Dave They're not that much better than me." How do you

Amos know I can play better?

Dave But I will tell you I trained very, very hard that summer. Mm. Right? I was in the gym twice a day. I'm running 110 yard sprints, 'cause I'm like, "I gotta be in the newspaper." Mm.

Dave My friends are in the newspaper. I gotta make the newspaper. Mm. And then you put in the work, and [00:27:00] the results come. That's like anything in life. But I think when it comes to money, it's something that's... It's a language that is imitating for a lot of people, right? They just don't get it. Mm. And they're like, I make 50,000."

Amos Mm-hmm. "

Dave My bills are this. That's more than I can juggle- Mm ... on how to even make that work for me."

Amos I, I- I

Dave think that's most people's mindset ...

Amos that, that is most.

Dave Right? I, I got my bills are paid. I got a little leftover. I could go on vacation.

Amos and no, just look, whatever life anyone chooses, that's the life they choose, right?

Amos And that's fine there. Just in general though, for anyone that does want to further themselves, not just like, you could earn income. That's one thing. But your knowledge is what really changes the game for you.

Dave Yeah.

Dave That helps you earn more income.

Amos Yeah. It, it, yeah. But I- And look, it's available.

Amos It's available. It's just you've got to go outside of the norms. [00:28:00] If everyone around you doesn't do well financially, and they all watch the same place for their financial info, you've got to realize this doesn't make sense.

Dave But to you, then that's the norm. How do you change? Mm. Not everybody wants change.

Dave it, ga- I'm gonna quote Kanye.

Amos Talk, go ahead, Matt. Quote Kanye.

Dave Kanye said- What you think I rap for? To drive a RAV4? I, that's- That's, that's not the point, right? That, the... No, he didn't put in all that work not to get the Bentley, right? And, and, and it's just like those are the things. It's like if you're not gonna put in the work and effort-

Amos man.

Amos Oh, that guy's great ...

Dave to change- Money ... your situation yourself, no one's coming to

Amos save you. And, and, and, and that's my point. Yet, we... If it's money, if it's whatever it is in life, even your health, man.

Dave That's the biggest thing you have going

Amos for you. Look, but look, and look at health. Look at how the health stories have changed.

Amos How many people are fitness, this, [00:29:00] everyone's in the gym this, that, and the third.

Dave Because we have access to information though.

Amos We have access to information for almost anything. It's do we decide to access the information? When people go, wanna get healthier, all of a sudden they know how to find information on diets and this.

Amos When people wanna learn about finances, where will they get it from?

Dave So, so I, I- Do the same work. But I, I say this When I was writing the book-

Amos ...

Dave the title was supposed to be Adventures in Finance.

Dave And my friend-

Amos No one's gonna listen to that ...

Dave was like,

Amos he's

Dave like- Who's gonna read Adventures in Finance?

Dave What kid is gonna read Adventures in Finance? I was like, "No, it's a great name." He's like- Okay ... "Get it out and see, see it for yourself." And I was like, "He might be right." Like-

Amos Yeah, no one's gonna read it.

Dave No one's gonna read that ... no one's gonna, no parent is buying that. Like- I'm

Amos not reading that, Adventures

Dave in Finance

Dave but the Tales of Endless Rewards for a kid is like, I don't know what this is about. It's got cool characters, right? So I just,I think what you're saying, I think we're saying the same thing. Mm-hmm. But I think the approach to learning money-

Amos Is different. Yeah ...

Dave when adults are talking about it, [00:30:00] like I said, it's, it sounds boring.

Amos Mm-hmm. '

Dave Cause if I'm a kid, like what is bonds? Like- Mm ... I don't wanna learn about bonds. That sounds boring. But if you can explain it in a way where it's like, "Hey, you see those Jordans that you keep asking your parents for? If you put a little bit of your, allowance-

Amos Mm-hmm ...

Dave into Nike stock, maybe you won't have to wait on your parents to buy you Jordans."

Dave Right? and for a long time when I was in advising, I had to go get my hair cut and I always, they used to call me Suits 'cause you know-

Amos You were always in

Dave a suit. Yeah, yeah ... I'm always in a suit. And they'd be like, "Man, what should I invest in?" I, I would say, "Invest in what you believe in."

Dave Looks like you love Nike.

Dave That's maybe something you should invest in- Yeah ... 'cause you spend a lot of money there. You're always buying a brand-new iPhone.

Amos Maybe Apple makes sense for you.

Dave Right? So then it makes the conversation go from, hey, I'm not telling them to buy Exxon because, gas is what we need. Yeah Right now they're like, "Wait, that, that makes a lot of sense."

Dave Right? Maybe I should buy stock in Ralph Lauren 'cause I'm always buying the clothes.

Dave [00:31:00] Right? These are products that they can identify with, that they consume the information, where it's like, it doesn't seem so overbearing or like you need a Series 7 to be able to pick a stock to buy. Because it's just like you said, having, taking the first step, having action, take an action step.

Dave Like you said, people think you need $30,000 or $10,000 to invest in the stock market, and you can invest $100 today on Robinhood

Amos or- Even, even less. I mean, at the end of the day, seek the information. It's available ... it's available. Seek the advisors, if possible. vet them too. Th- the point of what we're saying, it's available, and that's the key.

Amos We, we, we're gonna wrap up real quick, but it's another episode. Always h- thankful to have Dave here. My man. Appreciate you. Always a great conversation. Till next time, everybody. Thank you.