Makes Sense - with Dr. JC Doornick - Making Sense of Generational Wealth with best selling author Jamil Frazier - Episode 92

Starting point is 00:00:00 Welcome to the Make Sense with Dr. J.C. podcast. This podcast covers topics that expand human consciousness and performance. On the Make Sense podcast, we acknowledge that it's who you are that determines how well what you do works. And that perception is a subjective and acquired taste. When you change the way that you look at things, the things that you look at begin to change. The Make Sense podcast is sponsored and primarily funded by the Make Sense. Academy, our private community where open and curious seekers of growth and expansion apply the make sense principles and systems to move from simply going through life to growing through life.

Starting point is 00:00:41 So check out the Make Sense Academy risk-free for less than you'll spend today on shit that you don't need. Welcome, my friends, to the uprising of the sleepwalking masses. Welcome to the Make Sense with Dr. J.C. Dornick Podcast. Make sense. Hey, great morning, my friends. This is. is Dr. J.C. Dornick, aka. The Dragon, and I want to welcome you to another edition of the Make Sense with Dr. J.C. podcast. We have a very special guest, a personal friend of mine, somebody that's been a three-peat on this podcast. That is the amazing Jamil Frazier. Jamil is a motivational

Starting point is 00:01:23 speaker, author, certified health coach, personal development coach, and the founder and CEO of Think Life is different. Today, his coaching network is so. served over 50,000 clients and is still growing. But his impact didn't always look this way. In April 2012, he hit a pivotal moment where everything was out of balance. He was physically unhealthy, financially broken, relationally poor, and mentally freed. Simply put, he was a mess, just like your boy dragon was. However, after deciding to build holistic health, he found traction on the path to true wealth. Now, he dedicates his life to guide individuals. He's and organizations to achieve financial independence, healthy minds and bodies, and thriving

Starting point is 00:02:10 relationships. If he could do only one thing before he leaves this earth, it would be to help people everywhere learn to think well, and he's just getting started. I want to welcome the amazing Jamil Frazier to the Make Sense with Dr. J.C. podcast. Welcome, everybody, to a very special edition of the Make Sense with Dr. J.C. Dornick podcast. And I just want to share, this is a jacket that nobody's really seen and I wore it for our guest here because we go way back. This is a very unique jacket. You might see some advertisements of me wearing this jacket and some of our like nice professional photos. But this is

Starting point is 00:02:53 the actual like Prince Tarming jacket. And I used this jacket to propose to the chicken, my wife, in front of like 11,500 people or something like that just to make sure she would say yes. And I remember that right before I did that. That was my strategy. Someone said, which says no. And I was like, oh, thanks for that. The reason why I wore this jacket is for a little bit of extra entertainment, but also it's because our guest here today is somebody that I've known for a long time. So his name is Jamil Frazier. He's actually been on the Rise Up with Dragon Show, the previous show. So it's an honor and a privilege to have gone through so much life with him, but also have him be in the new generation of the make sense.

Starting point is 00:03:36 podcast. Unbelievable how many people are watching this. And I don't know if you know this, Jamil, but like for some reason, because we get an international crowd, there's this very strange thing where there's like these Middle Eastern men that have crushes on me. I don't know if you're aware of that, but I get hit on by Middle Eastern men. So big ups to my friends out in the Middle East, they're keeping the clothes on for you though. Jamil and I go way back. What's interesting, because he's in a new phase of his life right now. And this is really exciting. And I've had the opportunity to watch that all transpire. But if I think about it, it. We became friends and we kind of rose to what we thought was fame and fortune, which is really

Starting point is 00:04:12 interesting because there's different phases of that. And we've got so many, so many funny stories. But it's unique to be able to have a friend that lasts the test of time that you went through tough times, great times where you thought everything was all figured out and then tough times again. So, you know, I don't have a lot of friends like Jemiel Frazier. So it's just such an honor and privilege to have them on the show. But also, very exciting for me on a personal level that he's the first time he wrote a book. Well, actually, he's got two books out there, but think life is different, which ended up being his brand.

Starting point is 00:04:47 That was a huge success. I was like, oh, my God, my friend wrote a book, but now he's apparently an author. He's writing books, and then he just told me in the pre-show that he's got another book in him. But I want to welcome to the Make Sense with Dr. J.C. podcast, my brother, my great, great friend, Jamil Frazier, how are you doing? Man, we are in the building. I'm doing great, man. It's good to see you. And a big, big fan of the Make Sense podcast. But, you know, I've been here from... Can you prove that to be true? Or are you just saying that? Can I prove it to be true? Yeah, like, oh, man, that one episode was this really got me.

Starting point is 00:05:22 Everything that you put out there. I mean, even more than that, I mean, just look at the, look at the aesthetics. Yeah. I can get better than that. Well, the aesthetics are for you today. So the Make Sense podcast is all about taking the things that make you go, hmm. Yep. You got the new hat here. You see the new hat? I'm going to get you one of these hats.

Starting point is 00:05:43 We always give each other hats. I need a new think life is different hat, by the way, because that was my favorite hat, and it's just a mess now because I started wearing it to the gym. So I need a new, I need a fresh one. Say less. If you know anything about Jamil's story, and we're going to go over it, he comes from very humble beginnings. And so he's got this amazing kind of.

Starting point is 00:06:03 rags to riches story. This is a very interesting approach because it is it exposes something that you're becoming very, very passionate about and it and there's a really interesting contrast going on with financial freedom, financial, you know, generational wealth. There's a lot of interesting topics here. What I'd love to do is just kind of start off because we're talking about his, his newest book right now. When I, when I first looked at that name, I was like, what the heck is that about? right? I mean, I know what freedom is, but I'm like, what's about this oak tree? So this is going to be a deep one. But what I realize is that this is like a historical fiction novel, which is really interesting. I didn't expect this. I thought this was going to be you explaining

Starting point is 00:06:47 how you rose up and learned all these things. But this is a really fascinating book about a certain man in black history. So what inspired you to write this historical fiction novel? It seems that it blends black history with financial literacy and like understanding. What's fascinating to me is that it brings up this question like, who's allowed to be wealthy? You know what I mean? Man, so let's What a good question. Yeah, no, what a good question because I think a lot of people are a little bit confused on who's, who's allowed or we may not know or it could be a little bit taboo or faux. I think for me, J.C., first of all, thank you so much for having me on. You know, I've been on two or three times before. You're right. When I wrote this book,

Starting point is 00:07:36 I wanted to do something a little bit different. You know, when you first had me on, I just wrote my first book, which is the Richards Man in Direct Sales. And then I wrote a book, basically a how-to book, like take these 12 steps if you want a very successful life full of, you know, freedom and fulfillment and financial freedom and time freedom and all these things, but really just like fulfillment. And when I was thinking about the concept for this book, I didn't want to do necessarily a step by step, a how to book. I wanted to do a book that was told in story form, told in, you know, a fable, a parable. So if you ever read books like, you know, the richest man in Babylon, or if you ever read the alchemist, then this book is going to be a little.

Starting point is 00:08:25 the book that really resonates with you. And then I think also, you know, a small part of my story is, you know, I grew up on welfare for two decades, for, you know, from the time that I was born until the time basically I graduated from college. My mom is the most incredible person that you would ever meet, but she had a really, really tough life, especially at the beginning of her life. She was born in a family, believe it or not, that were sharecroppers. And Wabas Arkansas, and part of their job, the land that they lived on, was to raise the crops and to and to pick cotton. So she started from very humble beginnings, moved to Southern California in her teenage years. A few years later, both of her parents died within a month and a half

Starting point is 00:09:14 of each other, which put her as sort of the make you arc of the family to look over her brothers and her sisters, her youngest brother at the age of 13, got shot and killed due to the gang violence. then pretty much all of her other siblings passed away and there's only two that's left. So this is kind of what I grew up in. My father was a rolling stone. And so he had many, many women and multiple kids from multiple women. But he also found himself in situations where he didn't make the best choices, spent a large part of his life in and out of prison in the penitentiary system.

Starting point is 00:09:52 And so this was what I was raised with, you know, and my mom doing the best that she could do, we had to figure out how to get by, how to get by on food stamps, how to get by on government assistance, how to get by on Section 8 housing, how to get by with having a ton of help on the first and the 15th of every month. And so I always felt less than. I want to ask you about that because I think it's going to lead in. If you go back to because I mean like you're you're going to go, you're going to look at it through the lens of your current reality and you've become very wise and knowledgeable. But do you remember maybe accepting that as your reality and that and that having an effect on how big you could dream? Yes and no. Yes,

Starting point is 00:10:37 when we lived in a certain city and neighborhood, but around the time I was in a fourth grade, my mom moved this to a new neighborhood with new friends, with new environments, with new activities, with new hopes and dreams. And so once I moved to this new environment, now I started to see that there was something that was bigger that was out there. I knew that there was something that was bigger that was out there. I just didn't know how people did it. Right.

Starting point is 00:11:05 Right. Like I knew that we were a them and they were a they. And so because we started with very little, I knew that you could progress. I just didn't know how people did it. And I think that that's still a question. did a lot of people ask JC. You know, there's a lot of people that feel disenfranchised right now.

Starting point is 00:11:26 They feel like I cannot elevate in life. I cannot find a level of success that I want. There's only a certain amount of people that can build wealth, that can move into riches, that can move into certain cities, and that it's not possible for them. So the inspiration of really writing this book and the time period that I did was there's no other time period, especially for like black Americans to really show that this can be done than right after the Civil War. So if you think about it, you have millions and millions of people who all they had known was slavery.

Starting point is 00:12:04 And then all of a sudden, they're free. That's why the book is called The Freed Men in the Oak Tree. And so just think about that. Think about what that means to not ever have personal agency, not ever. be able to have currency, not ever be able to work, earn income, and have that for yourself. And then all of a sudden, you are thrust out into the open and you got to figure it out. And so in this reconstruction era, we saw some of the brightest, some of the wealthiest, some of the most industrious people rise up during this time. And if you can do it during that time I wanted to show, then we can

Starting point is 00:12:46 certainly do it during this time for people that never had anything, never had any personal agency. There's two ways of looking at that. One of the things that I've adopted is the ability to look at things from different vantage points. One of them is that they're at a disadvantage because they don't know. They don't know how. And they also might have been beaten into a place where they didn't believe like an elephant on a chain, right? Because you got to be able to dream about something and go after it. But on the other hand, I could see kind of like a prison break. If you've been held back for so long, you could also build a big thirst and a hunger that would cause you to not care about what a lot of people care. So I think one of the problems today is that people that are, they're so fortunate that

Starting point is 00:13:38 they have no urgency. You know, I think there's a lot of value in people experiencing having nothing. So I don't know what it was like after the Civil War, but I kind of feel like a lot of people were probably running around saying, free at last, I'm going to, I'm going to go live the rest of my life. I would assume there were a lot of elephants on a chain as well. Well, that's exactly what you saw. So I'm a lot like you. You know, what I love about you is I think we can give you a lot of titles. I think I could call you a sociologist. I think I think I could call you a psychologist, an anthropologist. I think I could call you a historian. I love, when I look at people, I love to try to figure out what makes them different.

Starting point is 00:14:22 Like, how come all of these folks had the same sort of reality? And some operated in one way, and others operated in other ways. So that's why a big part of this book, JC, is the five laws of leverage that helps people explode and not only their success, but in their wealth. And so what we see, what are the things that made some of these folks extremely wealthy and have them rise to the top of society was that first thing that you talked about. It was the thirst of knowledge. That's actually leveraged number one. And what you saw was that, again, for hundreds of years, they were not allowed to read. they were not allowed to write. They were not allowed to go seek knowledge.

Starting point is 00:15:14 And if you did, then that was trouble. And so what you now started to see was this thirst and this quest and schools that were erected and people wanting to learn, people seeking knowledge, people wanting to know how does this work? How do we build this? How do I spell this? How do I earn this? and that was the first key of how you start to see some of your first ever black millionaires during the time to where a country was maybe at its worst and you start to see a population of people become at their best. So there's little clues that's been left that I wanted to leave for how many people feel like that today, exactly how you said. I feel like I'm an elephant that's on a chain and I have no agency in order to move.

Starting point is 00:16:02 Well, one of the first keys is, well, we have to be thirsty for knowledge. How can you go out there and find how things actually work? And that's what we start to see millions of people doing. You couldn't read. The level of illiteracy was at an all-time high. But now look what started to happen just in a 20-year time period. You were not allowed to freely get married. And now all of a sudden, we're starting to learn how functional families actually work.

Starting point is 00:16:32 So I wanted to take those clues and show it happens across time periods, the same things that we could use and this reconstruction area we could use right now. So I want to go over those five laws. You highlight this character, Isaac Marshall. Yep. Fantastic character, very, very relevant. But I kind of want to know why you, because I know you very well, and I've been watching you evolve and I'm watching you evolve again right now even just hearing you speak right now I'm like man

Starting point is 00:17:07 he's really passionate about this stuff but in what ways does the story of Isaac Marshall I would assume in some way he kind of reflects your story so did you resonate with this character why did you pick Isaac Marshall I picked him because in a lot of ways he is me and a lot of ways he felt frustrated. He felt there's got to be something that's bigger. There's got to be something that's greater that's out there for me. There has to be a way for me to feel like, for me to produce more in life and for me to reach my capabilities. And, you know, that was me not that long ago, as you know, JC, you know, as I was saying, I've, I've never, I've never had a family member really do the sorts of things that I've been able to do. And I thought,

Starting point is 00:17:58 that there was for a long period of time, I thought that there was something that was like wrong with me or or different about me or something like that. And none of that was true. And so in this character, you know, I was really able to tell his story through telling my story because I sought after the same things that he did. I wanted to be a great husband. I wanted my kids to look at me with admiration and to smile. I wanted to leave a little. legacy. I was tired of feeling like I was pushed around. And I was also tired of feeling like I didn't have control over what the future held for me. And I wanted to create wealth. And I didn't know how to do it. And now that we've been able to do it, I wanted to really share that is not, see, here's the thing that you hear sometimes, JC, and what I've heard for the last 14 years, especially the last six years is that you are in the minority. And I'm like, then why don't we just make the minority to majority? Like, why don't we just take the things that we know makes people successful no matter what?

Starting point is 00:19:12 And why don't we focus on giving those things to millions of people instead of focusing on the things that do not work for the majority of people? to be able to do it in story form and to do it in a time period to where it's highly unlikely that anyone that has come out of the situation that Isaac Marshall has come out of, if they can do it, if Jamil can do it, then hopefully this inspires the reader or the listener that anybody can do it. You don't have to be overtly special. You don't have to have these incredible talent. you have to seek after things that most people are not paying attention to. And it's not that they

Starting point is 00:19:58 can't. It's simply that they won't. And so that's really what I want to draw out from Isaac's story by using my story. And as you know, like I share this with our students all the time. 10 years ago was 2015, May of 2015. I was broke. I just finished spending two and a half years paying off about $100,000 of loans. I had no savings and I owned nothing. That was in 2015. By 2018, I was a millionaire. How does that happen? Well, it happens from what I'm talking about in this book, right? But I don't want to just give another book where I say, do this, do this, do this. I got to tell it in story form so hopefully we can get in and understand. I love it. So I want to get into the five laws, but just one quick question that you just made me ponder. Because what we're

Starting point is 00:20:55 talking about is something that you and I have been given many, many times. But back to that idea of two men enter, one man leads. Handing the keys over the secrets to success that, as you say, anybody can apply, you're still going to be left off with a majority amount of people that for whatever reason, and they all have their reasons, they won't do them, whether they have a cognitive bias to say, I'm going to do it my way, or now's not the right time. So what's the real secret sauce? Before we go into the five laws, if you were to get a listener ready to not only receive them, because I always say learning in the absence of action is nothing more than a distraction. As we're about to hear Jamil give these five laws, if you're just here to

Starting point is 00:21:47 learn them and walk around saying, I know the five laws, but you're not going to do anything about them? Stop listening to this episode now. Don't waste your time. Go get an ice cream or something right now. Come back to it some other time. What's the real secret sauce that somebody needs to make sure of before they hear these five laws? Because if I ask Isaac Marshall, Isaac Marshall will be like, I don't have time to talk to you. I'm in action. The secret sauce is, so, I have to watch my language, right? Like, I'm not, I'm not, I'm not sure who's listening. Not on this show.

Starting point is 00:22:24 There's no rules here. So there's a quote that's out there that says, the day you say, fuck it is the day everything changes for you. And I don't know if you can feel that. And like, I just said that, but I feel it, I feel something happening in my body right now, JC. That almost is bringing me on the verge of tears. But there's two things that, you know,

Starting point is 00:22:47 usually get people to do extraordinary things. So before you listen to the five laws, like I would ask yourself, do I or have I had these things? Usually it is desperation. And what you're going to find in Isaac's story is he got to a place to where he did not know. He didn't know how to produce the level of success that he ended up having, but he had a day to where he just said, I'm not going to. to live like this anymore. I'm just not going to do it. And it was a day to where he literally said,

Starting point is 00:23:23 fuck it. So that's a day of desperation. We could also have a day of inspiration. Was this the second part? Now, I had both of them. I had just come out of a two-year depression. And I was tired of feeling like other, like people were pushing me around.

Starting point is 00:23:40 My wife, life, my boss, the economy. And I was sick of it. But I also had a time to where I got greatly inspired. I start to see people like you, J.C. In the story, you're going to see that Isaac got inspired by a gentleman as well, a gentleman that became his mentor. And so those are the two things that usually take us from where we're at to great transformation as we have those things.

Starting point is 00:24:08 Now, in my experience, if we don't really have one of those or both of those, then we're not usually going to consistently do the things. We might do the things for a little bit. We might do them for a couple hours. We might do them for a day. We might do them for a couple weeks. But the consistency that it takes to have the great transformation, literally, like fundamentally,

Starting point is 00:24:33 if you are going to be different, you have to be different. Like just think about what I just said. If you are going to be different, if you're going to move into the top 10%, 5%, 1% of anything, then this means that you're different. You are now in the minority because you think a different way and you act a different way. And that requires you to fundamentally be different.

Starting point is 00:24:59 So those are the things that if a person doesn't have those, if a person's not motivated like that, if a person's not fed up, if a person isn't wired that way, or they won't get that or they won't snap into that thing, then it's just going to be like that old rocking chair, where we get inspired for a little bit, and then life happens, and we kind of take a step back,

Starting point is 00:25:23 and then, you know, something else happens. We get inspired, and we're just going to be middle of the road people because we just kind of do this all the time, and we're missing those ingredients. So can everyone do it? I believe so. I don't know that my, the last 14 years of my life, life, JC, would have any purpose if I couldn't believe that. If I couldn't believe that the majority

Starting point is 00:25:47 of people that's out there can absolutely do every single thing that I'm talking about. I would have no reason for living. That's what I live for. Now, will they? The majority of people will not. And it is because it takes those things that I talked about. And you call it the jacuzzi experience. but most of us do not like being inconvenient in our comfort. And it is going to take you to move to a place where you literally say, fuck it. I do not care what happens on the other side of this comfort. Excuse my language.

Starting point is 00:26:26 No, no. My friend Jeff Kobelian, I don't know if you remember when I had that almost viral rap video that I did. called Effett Year. I don't know if anybody's ever seen that. I mean, we got about 2,000 views on that puppy. And that just about almost went viral. But here's what's interesting about what you said. I grew up in a world where I didn't want to be in the minority.

Starting point is 00:26:53 I was lucky enough to have a family that made me realize that I was actually privileged. A lot of people are privileged. They don't know that they're privileged because I did humanitarian work and things like that. I always knew to give back and things like that. but for the most part, I was raised to not want to be in a small group. But what's ironic is as you grow up, you realize that the word extraordinary, broken up is extra ordinary. And you realize I've been living in ordinary life my whole life.

Starting point is 00:27:24 And now I'm spending all this time and all this money on all these books and seminars and all these people telling me what I kind of knew, but I needed to be reminded that I need to be abnormal and unusual. So I love that. So now that we've primed it, for that person out there that here's what Jamil's about to share and you don't go into action, I want to encourage you not to beat yourself up and rather go back to your what and your why and try to figure out how to set a goal that is on the same level as Isaac and Jamil's were the likes of wanting to breathe when your head is underwater.

Starting point is 00:28:07 Because then these things work for everybody. So that was my little disclaimer, not to waste your time hearing another keys to the kingdom speech right now that you claim doesn't work because you didn't work it. So let's talk about. Break down the five laws of leverage and how they apply to everybody, to the average ordinary person. Sure. Well, first, let me just say for that person that you were just talking about, you know,

Starting point is 00:28:33 I do think that it's important for a person to be honest with themselves. What I have found also is to move to that place of, you know, great desperation or inspiration. Usually it does come down to a who. And what I mean by that is for us to go to the next level to find that sort of desire, oftentimes comes down to who's in our lives. And so for me, it was, you know, a one-year-old. son that I'm looking at and I do not want him to have the same reality that I had growing up on welfare, being with an alcoholic and a drug addict, mom, having a father who's not present in his life,

Starting point is 00:29:16 in and out of prison, and repeating the same cycles over and over and over again. Same thing for Isaac in the story. You know, his motivation was a hoop and that came down to his family. So if you're searching for that catalyst, which we often see that turns people in the superheroes, then I would employ you to look at the who's in your life and who means so much to you that will take you to the next level. How you become successful really, really, really fast. And when I say really fast, really fast is subjective. For me, you know, I would say that I move to a level of success in about a five to six year time period.

Starting point is 00:29:58 And now that I'm at the ripe old age of 44 and I look back on that, I see. say that dang, that was pretty fast. At the time, it did not feel like it was fast. It felt like it took forever. But now that I cascade back just a decade, I realized that five and six years was a pretty fast time period. How you do that and start to produce results that fast is you actually stop trying to do it on your own and you start to utilize levers in your life. So if you think about if any of us have ever had a car that broke down or we had a flat tire. You know, we might actually try to fix that flat tire or we might call somebody in to help us fix that flat tire. And what they do is they get out of the car and they bring a tool. And that tool is a jack.

Starting point is 00:30:49 And that jack is going to allow you to lift up this heavy vehicle, right? Sometimes 1,000, 2,000, and 3,000 pounds or more. And this little tiny tool, if you put it under the car and you get the handle and you sort of just press it down a few times, it is going to now raise up this extremely heavy vehicle. So you look at it and you say, how can something so small move something so big and such a short amount of time? It's because you're utilizing a lever. It would be extremely narcissistic for you and probably arrogant for you to sit there

Starting point is 00:31:25 and think that you could pick up a card by yourself. Some humans can. Most of us cannot. I certainly can't. So we utilize tools. So how can we utilize these tools of leverage in our lives? One, I've already been talking about. It's that first one.

Starting point is 00:31:40 And it is the thirst and the desire for knowledge. You already know a lot about a thing. And if you don't already know a lot about a thing, you can learn a lot about a thing. And it doesn't matter what the thing is. If I cascade back just a decade ago, I did not know anything about the line of work that I went into. I just happened to show up one day. I was given an opportunity. I studied that opportunity.

Starting point is 00:32:10 I tried to become great at that opportunity. And I tried to gain as much knowledge about that thing as humanly possible. So you can do the same thing. And it does not matter what it is. It doesn't matter if you move into sales. It doesn't matter if you paint houses. It doesn't matter if you're a cashier at McDonald's. It does not matter if you decide to start doing something with social media or social media

Starting point is 00:32:32 managing or editing. It doesn't matter. Just choose something and become extremely knowledgeable about it. I just wrote a book, my third book, that will become a bestseller. And I don't even know how to spell, but I do know how to tell stories. So the first law of leverage is to utilize knowledge. but it isn't just knowledge to have knowledge because knowledge without action or application

Starting point is 00:32:57 is just a bird that has wings that doesn't fly. And so you want to utilize knowledge. The next law is people. So you have to start leveraging people, meaning do not try to get things done on your own. And it might sound counterintuitive, but what you're going to see in the story is Isaac Marshall gained knowledge with becoming a sharecropper.

Starting point is 00:33:24 He was really good at planting seeds and tending to the crops. One thing that he had to start learning was, I'm not going to be able to get a lot done, and I'm not going to be able to bring a lot of value to the marketplace with me just trying to do everything. What I have to learn is how do I organize, how do I recruit, how do I hire a whole bunch of other people that can help me in this quest, in this job, in this thing? And so what you start to see is he and his family stop trying to tend to the crops by themselves,

Starting point is 00:33:59 but they get really, really good at creating teams. So if you want to scale very, very fast, get really good at leveraging teams, which leads to the next law, which is time. We all have 24 hours in a day, but we don't all use. to the same time the same way. So a lot of times because you are trying to do everything on your own, you're trading a tremendous amount of time for money and you are, I don't want to say wasting time, but you're not maximizing the time that you could be using. So what we can do is we can condense time and we can expand time. And what I mean by expanding time is as we get people, time, money to start working for us. We can actually expand the amount of capital that we could bring

Starting point is 00:34:49 to the economy. The fourth law of leverage is money, which I kind of talked about. Unfortunately, we eat our kids, meaning if you look at money as a tool, then we want that money to be out there working really hard for you instead of you always slaving over it. And as that money starts working hard for you, I look at that money working hard for you. I got four kids. So I look at that as kids that are out there in the marketplace, really working for you. Unfortunately, we eat our kids, meaning we spend all the money that we make and we never have this money out there working for us. And not only that, the money is not working for us, but as that money is making more money, then we need that money that's made to be making more money and so on and so forth. So we have

Starting point is 00:35:39 generations of money that's out there that's working whether we are asleep or whether we're out there working as well. I want to grab that. Sure. This is a very, very big one because I've come across a lot of people and I've been that person that, you know, maybe has a poverty mentality and claims that they don't have money. Yet at the same time, if you take a closer look, they're spending money. I always think it's funny when people say, I don't have any money. I look at it. I'm, I'd be like, you don't look like you got nothing. You know, I mean, you got clothes on your back. From what I understand, you live somewhere.

Starting point is 00:36:12 So you just reminded us of this importance of, like, is your money working for you? So I just want to make sure we dip a little bit further into that. What do you mean by that? Because is that just saying investments or all I hear is all the great say that you got to lean up and wise up on what you're spending your money on so you can save up so you can have your money work for you. So maybe just take a minute or two. and give us a little bit of financial advice on that.

Starting point is 00:36:42 Sure. I'm really glad that you dove into that because I think a lot of us are not taught the playbook. We just don't know. And I think even to hear me say, is your money working for you? Most of us do not look at money that way. Most of us do not look at money as an employee. Most of us do not look at money as a confidant.

Starting point is 00:37:04 Most of us look at money as something that we sort of use and abuse. we don't look at it as something that's going to help us get to the next level with greater ease. And so when I say, is your money working for you, what I'm saying is, are you treating it as something that's going to help you get to the next level a lot quicker with a lot less stress? How do we do that? Yeah, I mean, we got to find vehicles to put that money to work. When we look at money, you know, money is really attracted to movements, not moments. And what I mean by that is it wants to be used.

Starting point is 00:37:44 It does not want to be buried. If we bury it or we keep spending it, all we're doing is we're giving it moment. But if we give it a job, it is attracted to movement. How fast can you put me the work so that I can produce more for you? And that's a mindset that's not taught to most of us. It certainly was not taught to me. We got money on the first and the 15th of every month, and it came in a form of a government check because we were on welfare.

Starting point is 00:38:15 As soon as we got those checks, it was already spent. We already knew exactly what it was going to be spent on before we even got it. And so there's a simple little principle that's out there, JC, that I started living by about 10 years ago. and it was just to take a small percentage of whatever money that you get. Now, some of us make a lot more than others, but it does not matter. All that it matters is that you are earning, that you're earning something. And all you're going to do is just take a small percent of that and set it aside and just put it away for savings. And then you take another small percentage and you set that aside and you put that money to work into some sort of investment.

Starting point is 00:38:59 And then you set another little small percentage aside, and you just give that away, right? You tie that, you give it away to your church or your charity or, you know, family member. It does not matter. And then you just live off of the other percentage of that money. And that's it. Like, that's as simple as it gets. Now, that small percentage that you just put to work, what's going to happen is at the beginning, it's not going to work very much, right?

Starting point is 00:39:27 It's just going to kind of seem like it's just sitting there. And it looks like it's only working maybe an hour a day. But as you keep doing that, what you're going to see is you've got so many pieces of coins that are out there that's working for you day and night. Eventually what's going to happen is that money that it's making is going to supersede what you're even making. I know it doesn't make sense to a lot of us, but it is true. And so even when I look at how have I at the age of 44, if I wanted to, I could like never technically work a day in my life again. How does that happen? Because about 10 years ago, I realized that there's this thing called compounding interest that if I have this money start working for me, eventually I can get to a place where I don't have to work.

Starting point is 00:40:18 So you got to use that money as a companion, right? as start looking at money as an employee instead of something that you can abuse. That's how we start to utilize that law is not to spend all of it, but to use it to help you become free. I love that. And I know that some people are thinking like, you know, I wonder what your mom would have said with that welfare check if somebody said, hey, put a little bit away. I want you to speak to that because I mean, I know that people are third degree black belts and bullshit. You know, So I just wanted to join you with the swear. So what I know is that everybody thinks their circumstances is unique.

Starting point is 00:40:59 But what I would assume you're going to reference is that if you think that you don't have anything extra, that's why you've got to look at what you're spending on. And that's the concept of spending wisely. If you don't have anything left over, then you've got to figure a way to make more money. Sure. I mean, here's the truth. I mean, I would ask the audience, can we be? honest with ourselves. Because we're talking to a guy who's 44 years old that spent almost half of

Starting point is 00:41:28 his life on welfare. And I think that if you would have asked my mom, I know that if you would ask her, Ruby Jean Manuel from Wapasiki, Arkansas, who grew up as a sharecropper, whose father molested you from the time that you were born, whose mother never stepped in and kind of saved you, who grew up in poverty in such a terrible situation that watch your youngest brother at the age of 14 die in your arms, who stuck that needle into your arms for the first time and felt that rush of cocaine that led you to an addiction. Could you have invested $50 a month? Could you have done that? And she would say, and then I would say, could you have invested $100 a month? And she would said, yes. And I said, yes. And I said, could you have not bought those couches and put them on layaway and invested that money?

Starting point is 00:42:24 She would say, yes. I would have said, could you have not bought all of those Newport cigarettes, all of that weed, all of that alcohol? Could you have done that? Yes. Could you have not had some of those parties that you were having? And she would have said, yes. The truth in the matter is we all, even my uncles, I had two uncles who were homeless on the streets of Pasadena, California, who had drug addictions. They did not work. And yet they found a way to get money to aid their addictions. And I could even say, Uncle Sonny and Uncle Curtis, who laid in cardboard boxes, is it possible for you to have saved some in that money and invested it? And guess what they would have told us?

Starting point is 00:43:11 Yeah, it was. The truth is I have never, ever, ever run into somebody who could not do this. The truth is they didn't want to and they didn't see the value in it. Once this stuff becomes important to you, I promise you. I know it for a fact. I have lived it. Damn near half my life. One uncle died of being a drug addict and alcoholic.

Starting point is 00:43:39 The next one did the same. Both of my aunties died of being HIV positive because of drugs. One of my uncles was shot and killed for gang violence. What I am telling you is I have seen enough to know that if this becomes important to a human being, then we can do this. If we use stupid excuses and it's just not that dang important, then let that be what it is. but to say that we cannot do this is a freaking lie because we can't. Oh man, I feel so bad for the people that were standing their ground saying that they couldn't do it. You know, I feel bad for them right now.

Starting point is 00:44:19 So I believe that you were going to hit the last one of the five right there. We went over. I think the last one you did was people. And then I think the last one is systems. Yep. So we got knowledge. We got people. We got time.

Starting point is 00:44:33 We have money. and then we have systems. So systems is can you do something once and have it keep producing for you over and over and over again, right? Can you system? Actually, you taught me part of this. I remember years ago and I was like doing all of these trainings, all of these trainings. And you're like, dude, just make a video. Like you're like, why do you keep talking about the same thing?

Starting point is 00:45:06 Like, why don't you just make a video and share it with folks? And I was like, you could do that? Like, yeah. Well, we, you and I, we got to realize you and I grew up from an era where that didn't exist. So, you know, give yourself a break. We didn't know about that stuff. It's so true. But even look at this book.

Starting point is 00:45:22 Yeah. Right? I wrote this book one time. This book is now systematized. And it will continue to pay me for years to come. I'm not working hard for this every day. I did it one time, built a system around it, and now it's going to continue to pay. So how can we find things in our lives to systematize so that it takes less effort and less time off of us, but still can produce greatly?

Starting point is 00:45:55 And so that's what you see in this book. you're going to see that Isaac and his family start to systematize how they go about their work and their businesses so that it can now not just pay them for now, but pay them well beyond their living days. And that's how we start to move into legacy. This is such a fun topic because it's one that's just riddled with concepts and that old adage of getting out of your own way. You know, it's just that that's, I think that if we go back to the to the first, one about thirst, you know, and knowledge, I think that's probably the most important part of it, because you're not going to go get a drink if you're not thirsty.

Starting point is 00:46:35 You're going to think you don't need to take a drink. So I just hope everybody grabbed all that stuff because it looks like they all compound one on the other. If you haven't made a decision to go out and get something, then you're wasting your time. Jamil, what's an action step that people can take, you know, as we close up, I just want to make sure that somebody doesn't just go, oh, wow, there's a lot of good knowledge there. Maybe they'll go get your book. Maybe read it.

Starting point is 00:47:01 Maybe not. But what's an action step and how can people get involved? I know that you've got some communities and, you know, you're doing a lot more than just teaching people how to make money. But what will be an action step for people to take? Sure. I would say the first action step is go by the book. And obviously you can, you know, go to our website, thinklife is different.com and follow me on all of the social media channels, you know, at the real Jamil Frazier.

Starting point is 00:47:29 Thank you for putting that up, JC. But I would say the first action step is to really look inside and see if you're at a place where you're ready to make a decision. From there, something just extremely tangible is just like break out a piece of paper and get really clear on what your income actually looks like. How much is coming in on a monthly basis and how much is going out? out. And then from there, rectifying, you know, if you're spending more than what's coming in, then find some areas to where you can cut back and decrease. And from there, whatever is left

Starting point is 00:48:07 over, then find just one vehicle to start investing in it. What's the approach for somebody? I mean, other than reaching out to you and having you kind of take a look at things, when you say find one vehicle, if somebody doesn't know anything about those vehicles, like how do they find that vehicle? So one of the easiest things that you can do is say you got some money, you got some spread that's left over in there, then invested into a low cost index fund in the stock market that tracks that S&P 500. That will start to allow your money to work for you. It's likely going to give you, you know, an 8 to 12% return on average. And then that way you can, you know, start to have, you know, that money out there in the marketplace, start working.

Starting point is 00:48:53 start working just as hard for you as you've worked for it. So the moral of the story here for me is it's just a decision. It's a decision away. It appears that the easy approach would be to just keep letting your regularly scheduled program work and kind of go to the hope and pray that something's going to happen. I would love somebody to just show up at my house with a briefcase of money. I mean, I won't say no to that. But the question is, what are you going to do while you're doing that? So you got people out there like about like Jamil that, you know, what makes him special, and this is why it's so important to choose the right guide and mentor is you should choose somebody that has what it is that you want.

Starting point is 00:49:36 But you should also choose somebody that knows what it's like to go from where you are or maybe even behind where you are in this case and has acquired it because that will help you with your inspiration right there. This might have been Isaac Marshall's. if Isaac Marshall met Jamil back then, he might have inspired Isaac Marshall. Maybe that's what this is about. I just highly recommend, I mean, I'm a lifetime friend of Jamil. And, you know, I trust him with everything.

Starting point is 00:50:06 And it's just amazing for me to watch. I've watched this transformation here, you know, like sometimes you wonder when you see your friend talking about like, oh, I just put $200,000 in the market because it was down. Like, I happen to know that he would do that, you know. And the writing's on the wall. This is a situation where we know things. It's just a matter of whether or not you're willing to contend. And you might need to go back and just recognize that you deserve things.

Starting point is 00:50:36 You know, my last question, I want you a short answer from this. When we look at generational wealth, right? Because Isaac Marshall didn't have that. Jamil Frazier didn't have that. Where does generational wealth start? In the mind. It's a mindset. It's not dollars.

Starting point is 00:50:52 is not investing. It is the things that we have been indoctrinating our kids in since they were two years old. And it's just a certain way of thinking. Isn't that fascinating? Somebody asked me what my goal in life is. And I always answer the same thing. My goal in life, the way I know I've arrived is when my kids point at me and say, that's my dad. So I love the idea of being the person, rather than sucking my thumb about not having generational wealth. I love the idea of me being the person that started it and change the mindset. I mean, I see the way Jamil brings up his children like his children are having a completely different life experience than his. So it's important that your kids need to learn where you come from just so they understand where they come from. But man, this is great. Great, great conversation.

Starting point is 00:51:42 I want to thank you for being here. Go get Jamil's book. Go reach out to Jamil. Think Life is different.com. get that book if you haven't read it. That was a fantastic book. Great things on the horizon for Jamil, his family, and anybody that enters his family. So I love and appreciate you, my brother. Man, thank you so much for having me on. And yeah, love everything about you. All right. We'll see you next time. Remember, if you learn something today, give it away. That's how it's going to stay. So have a nice day. Thank you.

Makes Sense - with Dr. JC Doornick - Making Sense of Generational Wealth with best selling author Jamil Frazier - Episode 92

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