Smart Money Happy Hour with Rachel Cruze and George Kamel - Reacting to Financial Advice From the World’s Wealthiest People

Episode Date: November 9, 2023

Do we have something to learn from the world’s richest people, or did they just get lucky? They may be good with money, but will their advice work for you too? Tune in to find out! Rachel and George are reacting to money quotes from some of the wealthiest people in the world, like Elon Musk, Jeff Bezos and Oprah (just to name a few). In this episode: ·      The ultimate (first-ever) game of Pin the Quote on the Billionaire ·      What we all have in common with Kim Kardashian ·      Billion-dollar advice you can take to the bank   Helpful Resources:   ·     Start making memories. Go NOW and get Telestrations at Walmart! ·     Booking a flight with Going is the best and simplest way to pay less and travel more. Sign up for free today at going.com/smartmoney. ·     Get your finances organized, make a plan, build your confidence, and kick money stress out of your life for good with the EveryDollar budgeting app. Go to www.everydollar.com/smartmoney to get started today. Use code SMARTMONEY to get a free two-week trial and $15 off your premium membership to EveryDollar. ·   Pre-order George's new book, Breaking Free From Broke, today! ·     Do you have a Guilty as Charged question for Rachel and George? Send a DM to @rachelcruze or @georgekamel on Instagram! Be sure to type “GUILTY?” at the top of your message so we don’t miss it. ·     Learn more about your ad choices: https://www.megaphone.fm/adchoices ·     Ramsey Solutions Privacy Policy: https://www.ramseysolutions.com/compa...   This Week’s Happy Hour Special: Brazilian Lemonade Ingredients: ·     1 1/2 limes ·     4 tablespoons granulated sugar ·     1/2 cup sweetened condensed milk ·     3 cups water ·     2 ounces rum   Servings: 3 to 4 Instructions: Wash the limes. Then, throw the water and the limes (rinds and all) into a blender. Blend until there are no chunks, then strain it through a fine mesh strainer. Return liquid to the blender and add the sugar, rum and sweetened condensed milk. Blend it again, then serve over ice. Garnish with a lime wheel and some mint. Enjoy! Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey guys, I'm Rachel. I'm George. And this is Smart Money Happy Hour. Cheers, George. Cheers. Hmm. Hmm. There's no place like foam.

Well, that's what that is. Well, this is the show or two friends who happen to be money experts. Talk about what you're talking about. So everything from pop culture, current events, and money. And today, we are reacting to money quotes and advice from the ultra-rich. Really, really, really, really rich people. Like we're talking billionaires. Which is a thousand millions.

Thank you for that. Just to, I mean, it hurts my brain every time I think about it. Really? It doesn't hurt your brain? A thousand millions? To just picture a thousand millions. It's a lot of millions. There's a lot of millions in a billion.

Can you name some billionaires? Yeah, we got like a Warren Buffett. We got a, I think, Jay-Z, Kim Kay, Elon Musk, Jeff Bezos. We haven't got them going. There's some guys out there and women out there. there, they've done it well. And while we talk about these quotes from the really, really, really, really, really, really, really rich people, uh, we're sipping on what? We are sipping on.

A Brazilian lemonade. A Brazilian lemonade, Rachel. Have you had one of these before? It's all the rage among the youth. Okay. So I hear it's like a big thing on TikTok. I watched Michael Reddish make it as I was walking into the studio. Yes. It involves a blender. So it's, you prepare your heart, y'all. It's what's doing. Let me just say this. You blend full limes, like with the skin and everything. It's getting everything. Yeah, but it's delicious, and it has no actual lemons in it. But, you know, that's Brazilians for you. Yeah.

They're always just when you think you figured it out. They're going, nope. Really turn a corner, yeah? You never know. So we're going to give you the rating, reveal the cost per glass, and give you the recipe if you want to make it at home at the end of the episode. So stick around. All right, billionaires, George.

What about them? It used to, you know, they used to be rare, you know? That's true. Now I thought they're everywhere. And now... It's not even special anymore. You ready for this? I've lost excitement to.

become a billionaire. 2,640 billionaires in the world right now. And in the year 2000, there was only 500. 23 years, we have 5xed the amount of billionaires. They are... That's impressive. They are growing. And there's a new billionaire was minted about every 30 hours on average during the pandemic.

Where was I for the minting process? Where were we? Where were we? Well, some of those fortunes took a nosedive post-COVID, relatively speaking. I mean, going from a billion to 900 mills. million, you know, boo-hoo, wipe your tears with $100 bills. But Eric Jan, founder of and CEO of Zoom. Mm-hmm.

He went Zoom Zoom during the pandemic, had a peak fortune of over $28 billion. Jesus. Current net worth down to four. Whamp, wamp, wamp, wamp, wham. I truly want to feel bad. Like, can you imagine losing $24 billion? I just want a money. And then some idiot on a podcast is like, sucks to be you.

Golly, man. How are you doing now? Ernest Garcia The 2nd who owned about Wouldn't that be just junior? That's a great question I have a lot of questions

He's a billionaire So he can do what he wants But he owns 30% of Carvana And had a peak net worth Of $21.8 billion during the pandemic Now it's at 6.6 billion Ouch Well you know Carvana took a

They took a steep nose dive Why? Because I had a friend He had a terrible experience with Carvana Is that why? Like, is that like a known thing? Well, what happened was they bought a whole bunch of inventory going like, we're going to eat up the car market.

And it was when cars were really expensive. So they would go to Rachel and be like, hey, Rachel, your car's worth 21. We'll give you 24. Like they were just overpaying for all these cars to increase their fleet. And then the car market took a nosedive. So now they're stuck with all these way expensive cars that they're losing money on when they sell. Shoot. Yada, yada, yada.

I don't know much about it. But you don't have to be a genius business person. to go, that was a dumb idea. That wasn't good. Well, listen, you know, we're not opposed to billionaires. Not against it. Or people building wealth. That's, you know, partly why we want you to take control of your money. So we actually ended up looking up quotes, money quotes, business quotes, life quotes, from these people. And we're going to kind of play a little game called pin the quote on the billionaire.

Oh, that's fun. I could see you doing that at like your birthday party when you were young. We were young. I was broke when we were young. Yeah, but your mutual fun birthday parties that you always joke about. I can see you guys playing a rousing game of pin the quote on the billionaire. On the billionaire. It's like I did not grow up like Richie Rich. And then Sharon Ramsey brings out some jello. I don't know.

What did they? I don't know what was the big treat back then? Ice cream cake. Dunkerrews. Ice cream cake. If that was at a birthday party. Oh, ice cream cake was big. I was like, this kid's rich.

From dairy queen. I was going to go Carvel. Don't know. Yeah. Don't tell. All right. We're going to take turns, Rachel, reading these quotes and then guessing who said them. And whoever wins gets a person.

Prize. Lindsay, you're going to help us with this, right? Yeah, I'll tell you. Help me. Okay. So we have a... Because we don't have the answers. We have that very clear.

We have, like, a word bank. Do you have a word banks in school? I love those. You have a word bank to help us. Except when you screwed one up and then it screwed the rest of them up. So that's maybe what happened right here. Okay. You want to go to the first quote, George?

Sure. Do we need to say who's on the word bank or no? I think we do. Sure. Why not? Say I also know that some of these, some quotes is the same person. Oh, repeat. That's going to throw me off.

Yeah. Each person does have at least one quote? Oh my gosh. So we're trying to throw you for a little. What in the common core math are you all doing to me? This is a fun game. Okay, here's who's on the bank. Warren Buffett, Kim Kardashian, Larry Ellison, founder of Oracle,

Mark Cuban, Jeff Bezos, Ingvar Komprad, IKEA founder. Elon Musk. Oprah. Sam Walton, Walmart founder. Alice Walton, Walmart Aris. Bill Gates, Rihanna and Eric Yon from Zoom. Rihanna. Well, well, well.

Rie. Get a little umbrella and we are billionaire. That's all you need these days. She's a billionaire. Oh, yeah. She has the makeup. Is that what it is?

She's got all kinds of products ones. She has to have a bunch of businesses, obviously. Yeah, she is. Yeah. Wow. Okay. All right. You go first, George.

Read it out. Let's guess. Which billionaire said, price is what you pay. Value is what you get. Whether you're talking about socks or stocks, I like buying quality merchandise when it is marked down. Oh, I know.

I bet. I've got my guess. Jeff Bezos. I was going to Warren Buffett. So who is right? I'm going to say Jeff Bezos. George is right. George Buffett.

Stupid. I hate this game. Okay, can I tell you why? Only super old guys talk about socks. Sox or stocks? Well, but Bezos has socks you can buy. You can also buy Amazon stock. But Bezos is never going to use the words, I like buying quality merchandise.

Only a 90-old man. She has a merchandising platform. Nobody calls it merchandise. Unless you're from the 1940s. There's some truth to that. He is 93. And if people are wondering, he is, and it has an estimated $117 billion network.

Okay, that's great. I just think you. Get on his level. What does that mean? Price is what you pay. Value is what you get. Sox or stocks, quality merchandise when it's marked down.

That's an interesting quote. Yeah. So it's kind of that quality over quantity mindset. So always buying quality things, but you're waiting to get a good price on them. Sox or stocks? value of it versus just the price. Yes, of what you're getting.

Both hands. So it's an intentional act is what old Warren, I think, is relaying to the youth. Thanks, Warren. I want to see his sock collection. It must be extensive. No, I bet it's not because they still live in the same house. They still live in the same house, him and his wife. Yeah.

He's great. He's probably got some socks from before he was a billionaire. Probably. I'd buy those on eBay. Probably. Okay, up next. Which billionaire said, be thankful for what you have. You'll end up having more.

If you concentrate on what you don't have, you will never, ever have enough. Ooh. That's a very hard. Wisdom. My heart says Oprah. I'm going to go Alice Walton. All right. Georgie takes...

Oh, my gosh. It's Oprah. Do you know how much of her net worth is? So Warren Buffett was $117 billion. Oprah, I bet she's like, I would say like $30 billion. What do you think? $50 billion. $2.8.

Oh. I won. I got closest. Yeah, he did. That's shockingly low, but also an astronomical number. Yeah, totally. Just compared to Warren Buffett. Yeah.

Yeah. Good for you, Oprah. Okay, yeah. But the contentment piece, yeah, is big. Be thankful you have. You'll end up having more. If you concentrate on what you don't have. You'll never, ever have enough.

What's your quote, Rachel? I love this quote about discontentment. And a heart filled with gratitude, there is no room for discontentment. Yes. Gratitude. Be grateful for what you have. Which is essentially what Oprah. I think you said it better than Oprah.

Thank you, George. I might never say those words again. I will take it. I'll take that. You're so snappier. It's more tweetable. Yeah, well, the contentment piece. But I like that.

If you concentrate what you don't have, you'll always have this discontentment of like, well, I need more, I need more. Yes. Versus being grateful for what you do have. Yep. And, man, it's like... That's the American culture.

Oh, and it's just, and it can be constant. And you kind of let it creep in, and it just grows and grows and grows and grows. Gratitude. Yeah, gratitude, I think, I think, is huge. Big time. Be grateful. All right.

And grateful for the things that can't be replaced either, right? Like your time, your energy, like all of that needs to be put on things. Yeah, things that you can't buy. Like the real stuff in life, right? We concentrate. That will just rot. Yep.

And get thrown away. Turn to dust. Our friendship will last the test of time. That's right. That's right. All right. Next, which billionaire said, leaving kids massive amounts of money is not a favor to them.

It's definitely not Sam Walton because I think he left his daughter. Yeah, they're doing all right. Leaving his... I'm going to go... I'm going to go... I'm going to go Mark Cuban. He feels like a real level-headed guy. I know he has kids,

and I feel like he's got that kind of sass to be like, they don't deserve nothing. Let them earn it for themselves. Shoot, I want to say the same thing, but that's not fun. You can do it? Yeah, you can. We can both be wrong.

Or right. You never know. I'm going to go Bill Gates. Because then you'll be resentful. I'm going to go Bill Gates. You're going Bill Gates. You're going to charge you even. Rachel's your lucky day.

It's Bill Gates. You got it jumped out of your seat. I gave you that one. I know you needed a win. I almost went with you. She needed a win, guys. Oh my gosh. Yeah, she did.

Yes. Thank you, Bill Gates. Leaving, yes. And massive amounts of money in his world is massive amounts of money. Yeah, because they do give a ton. They are givers. The Gates Foundation. Do you know what Bill's worth?

He is $108 billion. Oh, any 67 years? That's wild. Wow. It's a lot. It's a lot. That's insane. He's not even that old.

Like 67, he could go another 30 years and let that money compound. Okay, so what are your thoughts here? What's the maximum amount of money you would leave to your kids? And are they all getting the same amount? Or does Charles get more? No, they'll get the same amounts. I don't know. I mean, like, I feel like we're probably, our plan is probably to leave.

them what we have. Just whatever's left? Like, do you plan on trying to spend it? You're not going to spend it all down. No, I'm not, no, we're not going to be one of those. No. But let's say, let's say there's, there's 20 million. Do they each split that? I don't know. I mean. Or are there rules around it of like when they could access it and it's in a trust? Yes, we do have that. Okay. We do have that. Like if something happened to us today, what they could access. But if they're 18, it's like, all right. 25. Yeah. Here's seven million dollars. Have fun. No, I think it's like a, yeah. No, I think it's older than that to get any amount of Okay.

I think it's what we have currently. Well, hopefully you guys live long, healthy lives, and they're, like, in their 60s. Let's hope so, yes. You know? Yeah, as of now, there would be an expectation of giving some of that, so we probably will earmark that some of it, right? And then, yeah, I mean, I, maybe I'm being naive in this. I don't have the philosophy of, like, oh, they're not going to get anything.

Okay. You're fine with them. Yeah, like, we've worked hard, so I'm like, I'm going to set you guys up well so that you can continue to do well and be generous and give and then help your I mean like you just kind of keep it going right yeah is in my head what are you going to do with me yeah I think you know when when I hit the old dusty trail and head on rainbow road I'm thinking our house hopefully we'll have like a baller house you know let's say we leave my two million dollar house they can sell that and the kids can take the proceeds so we can spend everything in retirement if we want yeah I don't think we will because

I'm pretty frugal but you know if we have let's say five million dollars and we still have our whole Let's party. Let's give a ton. Let's spend a ton. Let's do all of these things and then still leave them a little pile. Let's say a million dollars. Let me say this. I will not not spend money in order to leave to them. Like I'm going to enjoy my life to the degree I can and want. And then what's left the kids can have. That's a good mindset. But I'm not like, our kids are going to be okay. I'm not a bit, you know, I'm not like the in or out either way. Not like, oh my gosh, I have to like not do have fun for myself and

order for my kids to have something, it's not that mindset. And it's also not the like, you're, your dad and mom, Dave and Sharon, it was like, I don't want my kids to ever know debt. Like that was a value for them. And so I have that value for me of like, I don't want her to ever no debt. She's going to have work ethic. She's going to work her tail off. So I'm not worried about her needing any money. It's just going to be gravy on top that she then gives to her kids and their kids. So generational wealth will be passed down regardless of it's $1 million or $10 million. Love it. Okay. This was in a response to a question about a potential economic recession.

If you're an individual considering purchasing a big screen TV, you might want to wait. Hold on to your money and see what transpires. The same is true with a new automobile, refrigerator, or whatever else. Interesting. All right.

I'm going to go Larry Ellison from Oracle. Just feels like a guy with a boomer take. He's like, don't go out buying those refrigerators. These millennials and their fridges. They're fridges. I go Warren Buffett, just make it fun.

I knew you were going to go Buffett, and I guarantee you it's Buffett. Dang it. Well, you both are wrong. It's Jeff Bezos. Bezos? Really? Yeah, but you buy refrigerators from Amazon. The guy who's constantly marketing all of this crap on Amazon?

But he said this was in response to a question of potential economic recession. But yeah. As Amazon pushes for me to buy big screen TVs with a looming economic recession. You know, it's funny to me, though, and this is true with the housing marketing, my take right now is like, if you are financially secure, you don't have debt, you have an emergency fund, do you have the money to buy these things, you can buy them. Go for it. Right? I'm like, if you have an emergency fund for if something bad happens and that's taken care of and you need a new refrigerator and you have the money for it, go buy the new

refrigerator. I wonder if he's talking about doing this with debt. Like if you get a new car and you get a big payment and then a recession hits, that's very different thing. Oh, yeah, yeah, yeah, that's probably true. So, but yeah, I disagree. I think if it's in the budget, you got the money for it. You're in a good financial spot. Get you that big screen TV. That's right. Why not? Why not?

Okay. Next quote, George. Here we go. What's our score? I haven't been keeping the score. Let the people listening. I think I'm technically maybe winning by one. I think you're two to one.

Two to one. Yeah, we'll go from there. I'll get score now. Two to one. We got a couple more. We're not going to subtract points if we both get it wrong. That feels too complicated. All right.

All right. Here we go. Which billionaire said, I have a budget. I know what I spend monthly and what it costs her on my household and what it costs her on this home. It's hard all the time. time to stick within a budget for sure, but I think it's a good guideline. Ooh, that feels Buffett to me.

Oh, boy. I'm going to say. I'm going Cuban. I'm going on Cuban. Sam Walton. Cuban, Sam Walton. Yeah. The answer is Kim Kardashian. Oh my gosh. No. She said she has a budget. That's what she said. No. Yes, she did. No. Kim, are we friends? Color me shocked.

Unbelievable. We need to get Kim every dollar. She should have every dollar. Okay, I think we can make this happen. Oh my gosh. You could have like a Versace line item in every dollar. Can you imagine? Oh, boogie.

Wouldn't that be the greatest ad for every dollar if it was just Kim Kardashian's expenses? And you could see it all. But it's an every dollar budget. I budget for it. Because she's budgeting and she's intentional with where her money is going and she's saving. And every dollar has a name. How do we do that? Maybe it's bougie.

Chloe reposted an Instagram for John and liked it and commented. Our friend Dr. John Deloney, fellow Ramsey personality, was multiple. Blessed with a- A like and a share and a comment. Chloe, if you're listening, tell Kim to download every dollar. She can spring for the premium version. Sure.

We'll gift it to you, but you can spring for it. Yeah. And try to help because Kim budgets. That's impressive. Okay, here's the part that gets me. Can I just be honest? She ended it with, it's hard all the time to stick within a budget for sure. But I think it's a good guideline.

I think she's just saying that to all the normal people out there. If you make a bajillion dollars a year and you still can't stick within a budget, what do you do? I don't think she's talking about it's hard for her. Is she trying to have empathy and be a person? I think it's for the people. Okay. That's so Kim. My wife watches this show and she's like, they're just so relatable.

Oh, my goodness. What way? Are these people relatable? Oh, my gosh. I love Whitney so much. All right. So great. Okay.

All right. Next. Which billionaire said this. Don't panic when the market does. Ooh. That feels buffety. I know it feels buffety too. I'm going to go Mark Cuban, but it feels Buffett like.

Well, the answer is Elon Musk. Oh, my God. Neither of you are. What? No. I think you should give up now. Elon. Yeah, Elon.

Which, how much do you think his net worth is? I think it fluctuates greatly because... Well, currently. Tesla's not doing great right now, which is most of his network. Well, we found online. Are you 16 billion? I'm going 140 billion. Wow.

252 billion. No. Well, because he bought Twitter for like 44 billion. So I knew it had to be way greater than that. He could have used debt. Which, maybe he did, actually. He may have leveraged that. Um, wow.

Okay, don't panic when the market does. I don't see Elon as a big, like... Elon, I agree. You know, he's a businessman. So I assumed he just has a bunch of shares in his companies. Right. And that's his net worth. Yeah.

But, all right. People probably ask a lot. Like, oh my gosh, my gosh. I mean, he... He represents the stock market does. You just keep on, keep it on. Because when it's down and you still continue to invest, that's when you get to buy more.

I just got a message today. This lady's like, hey, I think I should stop. investing because like I saw in the news like there could there's war talk of war and all the stuff is happening and I was like just keep investing don't stop keep doing it yeah you'll thank me later but so many people get spooked yes because they're watching headlines they're like the stock market went down now's the time to sell I'm like now is the worst time to sell don't do it hold on yep because when it goes back up because it will you get all you get to gain all of that where people start jumping in in the middle of that and they miss all that growth

Yes, and we've seen even after a tough economic time, we bounce back. Harder than ever. A year or two later, we are back at it. Yep. Stay strong. Stay strong, my friends. All right. Which billionaire said, I'm a bit tight with money, but so what?

I could regularly travel first class, but having money in abundance doesn't seem like a good reason to waste it. Oh, wow. Oh, man. I'm going Bill Gates on this one. Gosh, I want to go back to Buffett. I don't know why I feel like Warren Buffett says all this stuff. I'm going to go Larry Oh

Curveball Yeah Which one's Larry again The Oracle founder Well it's not that because I asked the question Who's that guy? Yeah let me think Yeah okay

They threw us off adding in people who won't even quote it That was cruel Okay So the answer is the IKEA founder Oh yeah It wasn't in Swedish Well Rue

Stranet it for you Invar I know I don't know how to say that I probably butchered it. I'm offending a lot of cultures right now. So what are your thoughts on his quote? I love it. I totally agree.

Not that I can regularly travel first class, but that I don't think it's worth it. And that just because you have the money doesn't mean it should be frivolously wasted. Yeah, I would agree with that. But also, I think what you value can be different than the other person. Yes.

I'm not going to poo-poo someone for flying first class. Yeah, no. Go for it, Rachel. Sure. But to me, the value of like, it's not worth five times the cost and the seat price to have a little more leg room. I'm a little guy. Yeah. You know, give me an aisle seat near the bathroom.

I'm a happy camper. Did you hear what United's doing now? What are they doing? They're boarding different. That's right. When those seats go first, aisle or middle seats go second, and then all the aisles go last. And everyone's worried about overhead bin space. Oh, that's true.

And stuff. So, I don't know. That's, yeah. Yeah. overhead bin space really stresses me out. We have real problems in the world, Rachel. I get very, like, controlling, and I don't, I'm not a very nice person when I'm not flying Southwest, and you fly like a Delta or an American.

You've got to get in this line and this crowd. And I just look straight ahead and I just keep walking. I just kind of push my way through y'all. When they're like boarding group five, I'm like, and there was like, all these people, I was just kind of like, because I kind of get my suitcase up there. I got to have an overhead bin. I did not know. This is what keeps you up in it.

Very stressful. I don't like it. That's why I like South Club. I would rather have Southwest that I know when I'm going to board. Oh, yeah. Find my seat and everything. That's great. Do you get stress?

I check my luggage, so I don't care. Oh. I can't do all that. A checked bag is a lost bag. I know. Rachel's life is easier. I don't have to go to baggage claim. It's terrible. Why would I don't do that?

And the one time they like lost it and I had to go grab it. They gave you like, they gave me like $600 in credit. I was like, I'll take it. I love, I'm efficient. So I'm like when I'm done getting off the flight, I'm like, I just want to go straight. I just, I don't want to wait. To be fair, if you see Rachel's suitcase versus mine, it's embarrassing. I pack weight.

I have like two toiletry bags. Rachel's like, I'll wear the shirt on my back and it's fine. I'll get makeup from the CVS. I'll figure it out. I'll figure it out. I got a blow dryer. I got the steamer that Rachel will use on the road. And she's like, George, do you have a steamer?

It is true. I'm the Boy Scout slash Girl Scout. I know. All right. Here we go. What's next? Next. I'm the type of personality where I'm like, okay, I really want to buy this.

So I have to make this certain amount of money In order to be able to buy that for myself So I make it happen Who said that? That feels Cuban to me No, it feels it feels female to me Can I tell you why? It says like in there

It's the use of like Yeah, it's fair Could it be Riri? Is it her time to shine? Oh, is Riri's time umbrella? I might go Kim K So you're going Kim K I'm going Rihanna

Oh, Riri versus Kim K Okay, guess what? You're now tied because Rachel got it right Yes. Kim Kay. First she's budgeting, now she's saving up with a sinking fund. Who is this one?

This is rigged. She's pulling through for us. Kim. Okay, can you explain what she's talking about there, Rachel? Yeah, so I guess if she has something, she's like, okay, I really, and I'm going to assume it's not like an outfit. I think it's probably a really crazy car or a house or something, right? Yeah. In order to be able to buy it, I have to make a certain amount of money.

So she says it's like a justification of the spending, making it's like a justification of the spending, making sure the income's there to a degree to a percentage. So she's not going to buy a $500,000 car unless she made $500,000. No, I think it's if she made... No, I think it's like I'm not going to buy a $500,000 car unless I make whatever. Yeah, I think she has a number in her head for a percentage-wise for it to work. Our numbers are very different. But yeah, it's a great principle, though, of the sinking fund.

Yes, absolutely. If you want to save up for something, just set aside money every single month, divide out your timeline by the price, and you'll be a good. and you'll get there. Okay, so before we jump to the next one, I want to tell you guys why you need Telestrations because even billionaires, they play games, they have fun.

Yeah, Telestrations, I think, is one of the, I think it's one of the best games because it's chill, you can have fun, you can socialize while you're playing. And the most fun is how just out of left field it can get. It can get a little chaotic in the best way because you've got your word, and I'm trying to draw this word,

so if the next person can guess what that is, then the next person draws that word, and it carries on like a game of telephone until you have this random picture that is the most hilarious. Like, it looks like a four-year-old doodled it, and we're all trying to guess what the heck the original phrase was. Is that a good summation of telestration?

It's good job. But it's one of those gut-busting games that you have a big group of people we're pulling out telestrations. It's great. It's so fun. So start making memories today by buying telestrations at your local Walmarts.

All right. Next up, Rachel. Which billionaire said, I never thought I'd make this much money, so a number in the bank is not going to stop me from working. Ooh. I'm going Mark Cuban. It's got to, we have to finally get a Mark Cuban quote.

Where are you? Because that guy loves to work. I'm going to go with Bezos. You want to know who this was? It's not Cuban. Rihanna. Rihanna. Oh, Rih, we missed you.

It was Riri. This is her moment. In her time of need, you let her down. We let her down. I'm so sorry, Riri. You deserve better. You deserve better than us. Wow.

I love the principle here. Never thought I'd make that. It's humbling. And not going to stop working. We're going to just keep on moving. Do you love your job enough, Rachel, that even if you became a billionaire, you'd still do this podcast with me? I think I would. I'd be out.

I'd be out. I'm going to be real. I'd be out. I just don't think I could like, like, because this is fun to me. Like, I don't think I could not have something to do. Yes. Right? Yeah.

Now, maybe I would be like, this is a six-month podcast and then take six months and go travel the world. You'd like batch the episodes and be gone the rest of the year. Yeah, maybe I'd do that, be efficient with like the recordings. Do 52 of these in a month and then take the rest of the year off or something. That's a lot. Yeah, we could knock out two a day through the weekends, get 60 knocked out. Why not? I don't know.

We should try that. Anything? You would be done. I wouldn't be done. I don't have anything better to do than this podcast. I want to make that clear. I have no life. So it's not like I'd be having this lavish life.

I'd just be at home, like cuddling my dogs. I know. And I think that's great for like seven months. And then you'll probably be like... But I love this crew. I love my co-host. I love a good drink. I love talking money.

So you're right, Rachel. I would still do it. Even as charity for you. Just for fun. You're such a giver. You're such a giver. This is all Rachel has. You are so nice.

You are so nice. I feel condescension. and sarcasm. Oh, my gosh. All right. Next up, which billionaire said save six months of income.

Ooh, we like this so far. Okay. Did you just say I like this so far? Yeah, you did. You guys. Are you the same? Oh my gosh.

We're like turning into each other. We're like an old working couple. Have you ever seen Kat and Garth, you know, from SNL? And they're like look at each other and they try to follow with it. Let's have a moment. That's what I'm trying to do.

Let's try to do it. You start talking. Okay. No, not what you're reading. I know, I know. I'm going to just say this one sentence and we'll go and then we're going to go from there. Save up six months of income. That is such great.

It buys. Wow, that was so bad. I think it's like what Ramsey would say. Unbelievable. That was bad. I could have done it better than that. Ready? Okay, here we go.

Okay. An emergency, but it's necessary. And our world today Because you never know what's going to happen. And it turns a crisis into an inconvenience. Wow. Everyone is tuned out by now. They're like, I was enjoying this podcast.

That's so, that's funny, actually. That's a good game. Let's send that to our friends at OpGames. Okay, maybe we should really finish the quote. Okay, here's the quote. Here's a quote. Save six months of income. If you don't like your job at some point, or you get fired, or you have to move, or something goes wrong, you know?

You're going to need at least six months of income. Mark Cuban. That feels so marked to me. Oh, now I've got to go different. I've been choosing Cuban every time. You don't have to. I know he's been letting me down every time. Oh, boy.

I'm going to go Larry Ellison. The winner of this fun game is. It was Cuban, wasn't it? Cuban. Golly. Oh my gosh, George. I'm so sorry. You lost.

No, you're not. But truthfully, I'm always happy when you win because you're so much more competitive than me. And I just, I'm not going to lose sleep at night. You just don't care. You're going to go home and be like, Winston, you would not believe it. It feels stupid. I played a game on Smart Money at Barron I won. You will brag about it for years to come out.

But you deserve it. That was fair and square you won. It's a good game to win. I can name billionaire quotes. That's a pretty fun game to win. It's awesome. To Cubans credit, that is very wise. Yes, we say three to six months, but it's true.

It gives you such a buffer to relieve stress and all of that when life happens. It's there. And can we just make it clear we're talking about expenses and not income? Yeah. So your expenses are generally and hopefully lower than your income. And so it's very much possible. People do it all the time that follow the Ramsey plan. And it's baby step three in our seven baby steps.

That's right. Yep. The emergency funds. It's a good one. Love it. I love it. So great. That was fun.

All right, George, it's almost the end of the episode, and we close out every episode with Guilty as charged. And this is where our producer, Lindsay, gives us a new guilty-starched question every week. And if we were guilty, we had to take a sip. All right. Have you ever fudged a special occasion to get free stuff? Oh. Like, basically, you've lied that it's your birthday at a restaurant or a night. You did it?

recently. Are you guilty or are you just acting guilty? At a restaurant? Where'd you do it? We did it at a restaurant. We were with friends. It was actually, was it this year or was the last year? It was this year.

And we were in Florida and they were like, we really want to go to this restaurant, but you have to go get reservations for it and we didn't do it. And so our friend was like, we're going to call and just say our friends recently got engaged. You guys have to play up like this just happened.

And Jordan and I had to act the whole time. They gave us free dessert and eventually I was like, I feel like, this is bad now. Like we literally were like surpassing all these people that had, oh yeah. But that's funny. We did it. Wow. We got free stuff. Funny.

I did it on a recent trip, but I just, I gave them the date. It was Charles's birthday. We were there the week before. And I just told them we're celebrating his birthday on this trip. But it had nothing to do with this birthday. It just happened to fall right before his birthday. But I made it sound like a birthday trip. Oh.

And they gave us free stuff. What'd you get? Yeah, little stuffed animals. They gave the kids like little stuffed animals. That's cute. I know. And then a happy birthday Charles. Queen size plate.

Oh. Plate. And it said happy birthday Charles with like a little cake on it. That's cute. Did he eat the cake? Yes, he did. Nice. And we were like, happy birthday Charles.

I can just picture his little adorable smile, just full of joy. He was very happy. So yeah, we did do that. And I'm not ashamed. Because I told them the truth of. of the date. Yeah. Yeah.

Yeah, I fudged it around where it's like, okay, it's not on the exact date. It's recent. Maybe we're not there for that specific thing. But yeah, there was a birthday or anniversary nearby. You know, and you book it on like open table or Yelp or something? And it's like, is there a special occasion? I'm like, well, yeah. Yeah, there's always a special occasion.

We can find something. Okay, I think I'm innocent. Well, good for you. The winner of the game, innocent life. Yeah, I've never done one where I felt guilty afterwards. Like me. Not that level. I don't have anything.

Okay. Who finished or drink first? I don't know. There's so much fun. It's hard to tell. It's just wasn't what the kids are cracking it up. Okay. This was a Brazilian lemonade or I will say a take on a Brazilian lemonade.

And I'm going to rate this. Kind of tastes like a sweet tart. That's fair. Like a lime sweet tart. I'm going to give this a 5 out of 10. That's my honor. And truthfully, it's mostly because of the foam. I think what you're supposed to do is sift it out.

Believe me, we've learned this because. You know me. Yep. And that gets rid of all the pulp, you know, because when you blend the skin and the blender of the lime, it creates all that pulp. So that's what a lot of this is. And it tastes like a limy minty toothpaste. I hate to say it. I'm going to go like two and a half out of ten.

I'm going low. Sorry, Michael. I just don't like it. I just don't like it. I don't like it. Our mixologist Michael Reddish is going to Texas. He's going to be very, yes. Would you rate the drink?

And we're going to have to give him the bad news. I'm so sorry, Michael. I need a martini. And I'll say I made this at home, Mike, he's going to say. I made this at home myself, and I nailed it. Okay. It was so good. You did recently?

Yes. I used a, instead of a, well, tell them what's in it, Lindsay, before I ruined it. It is limes, sugar, sweetened, condensed milk, water, and rum. Very beachy. Yeah. Mine did not have rum. Okay. You can, like, spike it with a tequila.

So I did a little bit of that. It was good. But I used a non-dairy coconut sweet and condensed milk. Okay. Fancy schmancy. So that added a different vibe and different flavor. And for those of you that go easy on the dairy, there you go. But I think you have to go heavy on the limes and you need to do a good amount of sugar.

It's got to be really sweet and really sour at the same time with a good lemonade. To make it good. Okay. Well. There it is. There you have it. What's the price? $2.39 a glass.

Not bad. You need a lot of limes. Let me warn you. Oh, really? You're talking like I think four limes and one drink. Oh, my gosh. Maybe. Limy, limey.

I don't know. We'll see what the recipe reveals. Okay. Check it out in the show notes. Give it a try this weekend. And make sure you sift it before you get a cup full of foam. Okay, it's almost closing time. And if you enjoyed this episode, make sure to leave a review.

We love your reviews. Thank you so much. It helps us out. And make sure to subscribe so you don't miss a new episode every Thursday of Smart Money Happy Hour.