The Money Mondays - Jesse Itzler Shares His Formula to Retire Wealthy 💰 E40

Episode Date: October 23, 2023

In this special episode of Money Mondays, we dive deep into the secrets of wealth-building with entrepreneur extraordinaire, Jesse Itzler. Join us as Jesse shares his proven formula for making more money in your 40s and 50s. Discover his unconventional journey and unique perspective on money, risk, and family... Jesse Itzler, a multifaceted entrepreneur, author, and motivational powerhouse, defies convention at every turn. Known for his limitless pursuit of life experiences, he co-founded Marquis Jet, a private jet card company, and has played a pivotal role in numerous successful startups, including Zico Coconut Water. Jesse's relentless drive extends to endurance challenges. He once famously invited a Navy SEAL to live with him for a month, chronicling the experience in his best-selling book, "Living with a SEAL." An accomplished author, Jesse has penned several books, offering insights on leadership, success, and personal growth. Like this episode? Watch more like it 👇 Cesar Millan & Jen Gottlieb on MONEY, MINDSET, BUSINESS: https://youtu.be/m7VJOApOWyA Making Millions with Real Estate Investing 📈 Albert Preciado & Cole Hatter: https://youtu.be/OQO9hhGQf6I Dean Graziosi + Joel Marion Share Their Secrets to Success: https://youtu.be/7gn0rNubXbg Subscribe here 👉: https://www.youtube.com/@themoneymond... Watch ALL Full Episodes Here: https://www.youtube.com/playlist?list... --- The Money Mondays is a business podcast here to teach you how to make money, invest money, and donate money by showcasing some of the world's most successful people and how they do the same. Hosted by serial entrepreneur Dan Fleyshman, the youngest founder of a publicly traded company in history, this money podcast gives you an exclusive behind the scenes look at how the wealthiest celebrities, entrepreneurs, athletes and influencers make, invest and donate money. If you want to learn more business and investing while you work to improve your financial life, you're in the right place! Subscribe: https://www.youtube.com/@themoneymond... Dan Fleyshman, The Money Mondays Learn more here: https://themoneymondays.com Watch all the podcast episodes: https://youtube.com/playlist?list=PLs... Let’s Connect... Website: https://themoneymondays.com Podcast: https://podcasts.apple.com/us/podcast... Twitter: https://twitter.com/themoneymondays LinkedIn: https://www.linkedin.com/company/the-... TikTok: https://tiktok.com/@themoneymondays FB: https://www.facebook.com/The-Money-Mo...

I think it's really important that people have understand what their relationship with money is. You will make more from 42 to 50, than you will have made in your 20s and 30s. I guarantee it. I mean, more from 40 to 42 than I did my entire life. See? Because of all that, what you just said. Exactly. The guy that he said it best.

He said, learn like you'll live forever, live like you'll die tomorrow. You think Lebron and Jordan and the COVID--19 have quitted that they want to ring? They're in the next day. So they know what's in this already? They're just snaking here. They've got to be all worked up in here, man. But Russell, that's snaking, you guys have a cold breath.

I feel like I didn't get the right shot. We're coming here. [♪ OUTRO MUSIC PLAYING [♪ Ladies and gentlemen, welcome to a very special edition of the Money Mondays. I have my co-host here, the Real Tarzan. This guy gets over 200 million views a month across social media, except he got 215 million views in the last 10 days alone. I know because he sent me a bunch of screenshots to prove it.

So on the Money Mondays, you know what we do here. We talk about three core topics. How to make money, how to invest money, and how to give it away to charity. We have a special guest here that knows all of those things and he's an embodiment of building and selling companies. I think he sold five or six companies. Most people hope to sell one in their career. He sold six and he's probably gonna sell more

over the course of his career. But he also has created marathons, teaches people how to be better humans, better family people, and everything between how to get their schedules. He has a humongous calendar, See night might not know who it is yet But if I tell you Markey jet Vita cocoa all these different brands that he's built you're gonna know it's Jesse it's lyr

The people know where we broke ass from do they know where in an RV? So they know what's in an RV. Yeah. Isn't incredible, man. So they know what's in this RV? There's a snake in here. That's why I was in line to shit with the man. So here's the reason for the RV motorhome, ready? I feel like I didn't get the right shot. We come in here. We do that here too, by the way.

OK. So the RV motorhome is because we can do great. We can drive around the country and it removes the hard timing for celebrities, athletes, busy business people. Right. Imagine I try to schedule, hey, Jesse, let me text you, hey, you're in Atlanta, I'm here.

It would take us months to organize it. Here, I can pull up on the side of the aspire tour. Hey, I'm right outside the glass. Can you pop in? Hey, Gary Vee, can you pop in? Hey, Damon John, can you pop in? Hey, Kevin Hart, can you pop in? Oh, you're in Atlanta, me too.

I do it. Basically, what you talk about in your speech? Oh, you're in Atlanta, me, I do it. Basically, what you talk about in your speech, like, you're in Atlanta? I'm in Atlanta too. And I'll drive there for 15 hours, if I have to, and show up to be there. And so that's the cons of the motorhome is to remove the restrictions. Dan, were you in entrepreneur before you were born? No, like, could your parents, like, I'm going to conceit, like, they probably had like, the blueprint before they even can't catch you. This is what I like about you, man. You're always solving problems that aren't like,

and you're not scared to take a risk. You're not scared to be different and break rules. And you're not scared what people think. And you just do things on your own terms. And that, like, it's, it's, like, kind of like the definition of an entrepreneur. So, anyway, thanks for having me, guys. So, typically what we do is we have a quick two-minute bio, we get straight to the money,

you're gonna have to go more in two minutes. You got so many things you've done in your career. So, let's do a four-minute bio. The first time in history, the money Monday is a four-minute bio, Jesse, it's there, and then we'll get straight to the money. Yeah, I mean, I've had an unconventional journey as an entrepreneur. I started out in music right out of college.

I was signed to a record label. I had a private jet company called Marquis Jet, which we sold to Berkshire Athlei, Warren Buffett's net jets division, a coconut order company called Zico. Naviada Cocoa, but Zico. Sorry. Same cat. No, and we sold that to Coca Cola. And then fitness company, we sold the I-Fit.

You know, I've just, I've had several different companies and several different categories. And the common theme is I had no experience in any of it. Kind of like you, just figuring out how do you make entrepreneurs do two things. They make something better that already exists or they create something brand new. And I've done both.

And I've also had a lot of failures. So that's kind of the business side. On the personal side, you know, I think what I'm most proud of is throughout that journey, you mentioned five exits. I've been able to have on the other side a really rich life of adventures, four kids, great friends. And I don't even want to use the word balance,

but really emphasizing building my own life resume while I was building my work resume. So yeah, and I'm 55 now. I'm married to an entrepreneur. My wife owned a company called Spanx. She just sold the majority of it to Blackstone. And we live in Atlanta and I'm part on it in the Atlanta Hawks.

So cool. You did it under four minutes. Yeah. All right, Jesse. So we. We did it under four minutes. Yeah. All right, Jesse. So we keep these podcasts to under 45 minutes because the average workout is 45 minutes. The average commute to work 45 minutes. We try to be around 35 to 40 minutes. That's why we have a high listen through rate and especially for today, we're going to

make a lot of fun clips with this because to be blunt, you're my favorite entrepreneur. Thank you. We have a lot of mutual friends. Yeah. But just watching how much fun you have with life and how you built your family around it and how you've got literally like, marathons in your backyard, like I'm just obsessed. Like I've just watched you for so many years

and just to see how you're living and now, especially how much content you're making, you're spending your time and energy to be at events like this, like, you don't have to come here. The difference of you making 100 grand here, 200 grand here, what doesn't matter to you as a business person for your career, but you love it.

And I can feel it. Every time you go on stage, I had to freaking go after you today, speaking. No, listen. You got to like a rock concert going on with a DJ up there. Like it's an amazing moment. Talk us through for the people that are listening. Why is it important for them to be making money in their

career to be able to do some of the fun things in their personal lives? Yeah, before we do that, I just want to touch on one thing, if you know mine. Like you talked about the love of speaking. And you know, people think when they think about businesses, real tarzan, they hear the term ROI, return on investment a lot, and they think of that always as financial. But for me, return on investment comes in a lot of different forms. And the return I get from speaking, the way it makes me feel, is incredibly valuable.

And I have a little coaching program and the gal in my family office, looked at the numbers, and she's like, you know, why are you doing this? Why don't you go start another Jack company and build another empire or whatever. And I was like, and I showed him my DMs, and I'm like, because I look at what I get every day. And that feeling, that return on investment is more than the money. So I love speaking. And thank you for having me, man, because you've given me the opportunity a couple of times.

Yeah. As far as the question about money, you know, I think it's really important that people have understand what their relationship with money is. People don't think of relationships, you think of them in terms of people, whether it's relationships with your kids. How's your relationship with the real Tarzan

or how's your relationship with Dan? But you don't think of your relationship in time, time, and money. And I didn't grow up around money. My dad owned the plumbing supply house, we didn't talk about money in my house. Like when I became a millionaire at like 26 or 27, my whole life I heard if you're a millionaire,

I thought I was Elon Musk, man, when I made a million dollars. I thought like I have enough money for seven generations. For sure. And that's not the case. I had no idea. I didn't know how to save it, invest it, use it, and that's that's not the case. I had no idea. I didn't know how to save it invest it use it And that's very dangerous. So it's really important that you think about like

Why am I working 40 out 50 70 hours a week? What do I want to do with the money if I wired you $10 million man? What would you even do with it? What are you playing for? What are you playing for what do you want to do with your money? No seriously, what what do you want to do for me? money makes my life easier. I use it to treat the people I love to things that I love to do and to make my life easier. Not to buy Picasso's on my wall, certainly not for a watch or clothes.

I would, you know, Dan, you could probably say the same. I'm like, we're in Gary's hoodie. No disrespect. I got no watch on him, we're in Gary's hoodie. I never see you in Italian suits them. No. It's not what you're doing it for. I don't have a car for seven years.

Right. I don't have a car in it. So that's a very different relationship than what you hear people, you know, flaunting and bamboos and bamboos. No disrespect. Listen, it's fun. Go for it. It is what it is.

But so you have to think about, what am I doing this for? Like, what do I really want to make all this money for, you know? Real Tarzan, if I real Tarzan, real talk, if someone wired you 20 million, probably buy animals and do the thing more of what you're already doing. Absolutely. You know what I mean?

It wouldn't change you. You wouldn't go buy a mansion and like, you do what you love to do. And that's really important. Watch this question. What if I gave you $21 million today, but you can never interact with an animal ever again in your life? I wouldn't take it.

I could say the number higher, I could say $50 million, I could say $100 million. It's his entire life. Right. And some people are listening, they're like, yeah, right. I got 20 million, I'm out. I'm never talking to an animal again. They're wired differently.

Well, what would I do? What would I do? You know, I don't know anything else. I can't work out every day, All I lose my mind, right? You know, well, that's great. You find you know, that's a gift man. It's a blessing to know what you what you love to do and then and you're doing it Yeah, you still take the 20 million by the animals I'm like give it away. I give it away to like a you know, buy some rain forest or something like that, you know Yeah, I mean, we've spent almost half that to build the wild jungle.

So wild jungle is the brand of building around Tarzan. That's part of how I convinced him to move from Miami to Mac and the... But we bought a ranch for $6.6 million. We spent $3 million decking out for the animals. And every day, he'll get 90 million views in a video and go clean up poop for two hours. And won't blink. And won't complain. And then at one in the morning, he's giving birth to a goat. And then he'll go get 90 million views in a video and go clean up poop for two hours. I won't blink and won't complain. And then one in the morning, he's giving birth to a goat and then go get 17 million views.

And then wake up and there's a nostril, Jag. Like that is his world. Right. And so rare to find someone that's that passion, an entrepreneur and such a category that they're literally obsessed with. I love meeting people that that are experts and like, great, what they do in categories that I know nothing about. You know, they always say like surround yourself with like-minded people.

Why? They do like the same thing you do. Like, I love people that are not like-minded that I can learn from. Like, I feel like I want to flip this and do a podcast on you guys. God, I'm not. It shouldn't be the guest.

It shouldn't be the host. You guys should be the guest. So can you tell us about the calendar and why is it important for people to be organized and scheduled in their world and in their lives? Yeah, so like I don't know if you know this real Tarzan, but I have this big-ass calendar. It's called the name of the guest calendar. And it's like 365 days on one page. First of all, I'm super visual, so I want to see my whole year and see where I spend time.

I like that. But more importantly, like I feel like especially as you get older, you guys are younger than me. But creating newness is really hard. Most people, not you guys, live in routine, and at the end of the year, they don't have a lot to show for their year. The only way to really create newness is to plan it. So I'm going to really proactive in my planning.

My trips, one on one trips with my kids, races that I do. I put that down first. Work is always there. It fills in anyway. But if you don't put this stuff, you want to do and prioritize, you got nothing to show for it, man. Why are you doing it if you have nothing to show for it?

So, I'm mapped out, like I've already here, we are, we're in October, I don't know when this will air, but I've already mapped out my whole 2024, and let me tell you something, it's fucking award-winning. All I have to do is follow the script. It's award, my 2024 is off the charts.

I just have to follow the script. Sure. This year, 2023, I rode my bike across the country. I put it in the calendar, you know, six months before, if I didn't, I would have never done it. I would have never done it. I would have said yes to everything and then Zoom calls. I can't go. I got a Zoom call.

And then no, now it gives me permission to, and I actually makes me better as an entrepreneur. Because the time that I'm working at work, I'm so much more focused and I don't have any guilt. Being an entrepreneur is hard enough. Being an entrepreneur with guilt is freeing an impossible. So I don't have guilt like, should I be at work? Should I be at home? No, it's already, I know the days I'm with my kids.

I know that I'm the vacation I'm doing with my wife. But Sarah right now, my wife, I'm working on this book. For three weeks, I'm locked in here. But we're going away and it works. All the guilt's off the table. No resentment. You said something on stage today saying, don't give up what you have for something

that you think that you want. Can you explain what that is? I think a lot of, I remember when I was in my 20s, a lot of my friends gave up their 20s. The best years, arguably, some of the best years, the maybe arguably the decade where you can do the most, maybe and take the most risk, working at Wall Street firms and trying to like really climb up the ladder.

Ultimately, a lot of the entrepreneurs caught those guys from a, as far as like from a wealth perspective. And like I never want to give up my 20s man or my 30s. And when I look back like when I'm most proud of one of the things I'm really proud of in my journey, is I never gave up my health. Like, we have one job, stay healthy. You could get the $20 million in the farm and own the rain forest in Brazil or whatever,

but if you're too sick and you can't enjoy it, what does that do? So while I built five businesses or whatever, I was able to still run several races and stay healthy and that's really important. So you don't want to give up what you have, your relationship with your kids, your parents, your friends, chasing all the money. You know, there has to be some kind of balance because you will have insane Gilton regret at the end of the journey. You'll look back and be like damn man. I Should have gone to that baseball game. I should have gone to that swim. Me

Is fucking kids 18 now. No, they never having another swim. The swimming is done man. That ended at 12 Yeah, you miss that so that's what I'm talking about. Is there any emotional or mental difference of your first one million versus 10 million? Yes. It's a lot harder to make 10 than one. First of all, the one is so emotionally exciting. And like for me, especially like, man, I would go to every, when I made, I sold my first company for 4 million in cash and then there was an earn out for 16. I was 27 and I Just remember I

37,000 dollars and that's where I was making a year until I sold the company. I was literally I was literally sleeping on a couch and literally and I just remember going to the ATM machine after the wire hit the next morning. So like they wired in the money. I didn't have to pay taxes yet. And looking and I was like, I made $500 while I was sleeping.

I'm going back to bed. I'm going back to bed. I could not believe it. Like I didn't make $500. Like months in interest. I couldn't believe it It was like holy shit So the million like psychologically that was a really big accomplishment

But once you one to five one two and three is noted one five is different. Five and then one to 10 is big difference. And just what you can do, you know, and the pressure it takes off of you. Um, but I never, like, I never had a number. I never chased it. I never go find it. I never goals, even now, like, I don't have like, oh, I want to make this. I don't even, I'm very, um, almost to a flaw. I'm, again, my relationship with money,

I have friends that are, listen, I'm part owner of an MBA team. So the circle of owners is a lot of wealth. I have friends that are incredibly wealthy, great guys, that, and when I talk about wealth, I'm talking about, I'm not talking about their rich. I'm talking about, they are wealthy men. And you never know it, but they will go and they will look at a bill at a dinner who got to

sell it. What did you get? Like, what? So, like, I never wanted to be that. Yeah. I feel like this is I feel like if I don't I have a people look at that stuff or whatever I never but if I get beat by 10 or 15% a year because I didn't look at everything over I'd rather have that 10 15% of my time then okay they got me the gardener got me for the mulch that I didn't order So how do you incorporate and choose what I just say? The gardener got me for the mulch I didn't order man. I like to put that on a shirt

That's good. Yeah Limited edition shirts man the gardener got me for the mulch Do it LLC the gardener got me for the mulch LLC 140,000 say one hundred percent how about 30% 30% 60% So when you're mapping out this three in the 65 days amazingness of calendar time How do you decide when is it Sarah time? When is it kids time? When is it work time when am I gonna run a marathon? When am I gonna write a bicycle across the country, like, you have a lot of options here.

Yeah. And each one is different importance to you on a personal level and a mental level, like how do you choose? Yeah. So every year I try to pick one big thing on my calendar. There's an old Japanese ritual called the misogyn, and the notion is you do one big thing a year. That you can, at the end of the year, you're like, listen, in 2015, I wrote a book.

Yeah. 2018, I launched this company, 2009, 29. 2023, I wrote my bike across the country. So I, what is it in 2024 that I think, how old are you, Tarzan? 29. So let's say you had one big thing, unless you lived to be 90, you lived 60 more years.

If you did one big year defining thing at the end of your journey you'll have 60 monster Stories that's like a friggin novel. That's an incredible life So I do that and I put it down on my calendar and if I don't know what it is today I just know that I'm doing something big this year. I don't know it 2024's that is for me yet And then I do like six min event adventures a year. Same thing. You live in other 60 years. That's 360 mini adventures. Like, and that could just be as simple as like, I'm going fishing instead of watching like the Georgia football game this weekend.

Just six, six things you normally kind of want to have done on every other week, every other month. So now you've done one big event. You lived to 90, you have 60 incredible year defining things, you have 360 mini adventures. Who won't sign off for that? It's a good life. Buffet doesn't, who has that? So I do those two things, they go on my calendar. And then, I try to go away with my wife like once a quarter, it can be a staycation

or something, we date night once a week. And I do one on one trips with my kids. At four kids last year, I went to Washington D, see with my son, New York with my, and that's it. And then I fill it in with the races I wanna do. And then the rest is work. So there's something that you post about often,

which is serial for children. And I've always wanted to ask you about it. Like there's something that you post about often, which is cereal for children. And I've always wanted to ask you about it. We just grew up, I mean, I see him eat cereal all the time. Why is cereal so bad? And why doesn't the the company is actually stepping in and fix what they could be fixing? Well, it doesn't surprise me that you eat a lot of cereal because the major cereal companies control the supermarkets in this country. They have the center aisle, the most popular aisle,

and they have all the shelf space. The Kellogg's, the Nabisco, General Mills, they control the decisions of really, oh no, you can't buy whatever you want, they're not on the shelf, they own it. It's easy for us to say, but not for a family that lives in a small town and whatever, and that's their option. So, you know, look, those businesses are in business. They don't care about health per se. They care about profits.

They don't have a job that the stock doesn't go up. So they've created, they've created their they basically created candy For breakfast and they call it cereal and then they they use deceptive marketing like Cheerios will lower your cholesterol or though cheerios Cheerios at an ad that'll make you 20% more attentive in school Like fucking kidding me. They got sued for that by the way laws, but I'm saying they don't give a shit. So I look, let me back this up. If you're 55 years old and you've been on this planet, and there's nothing that pisses you off,

I don't care if it's global warming, childhood obesity, whatever, pick your topic, social injustice. If there's not something that pisses you off like animal cruelty, whatever. You're living a very selfish self-centered life. And if you find something that pisses you off, and to me it's that, that's one of the things, and now I get older a lot more.

You gotta speak about it, man. You have an obligation to yourself, in my opinion. I'm not telling anyone what to do, but in my opinion, to speak up it man. You have an obligation to or to yourself in my opinion. I'm not telling anyone what to do, but in my opinion, to speak up on it. I offer the CEO of Kellogg's a million dollars. I think I want to like two or three million. I don't even remember for a 15 minute one on one interview on IJ. Wow. And I would donate it to whatever charity he wanted for a 15 minute. And I even put the questions down. Wow. These are the four questions I'm going to ask you. You can fucking pre-bake your answer right now. Right. Have your publics ready. It's 15 minutes on IG live, a million dollars to the

charity your choice. And they're all like, would you feed these ingredients to your kid and say like, nothing. Of course. Same with Flintstone's vitamins, another fucking scam. Now you're getting me pissed. Come y'all worked up in here, man. That was a wrestle that snaked you guys out of. It's a cobra. A cobra that you have an accaged back here. Tarzan?

All right, back to money. Why is it important for people to invest into themselves, their careers, or into stock market real estate, except why should people be investing? The word, when you hear the word investing, why should people be investing? Well, investing in yourself, obviously, you are the business plan.

You're the business plan. So the more you learn, the more you experience, by the way, the more you experience, we talk about the calendar, the more you have to offer, the more interesting you are, the more like you are to get a job a job or a Promotion if you do really cool shit. It's like people are into that Investing in yourself Gandhi said it best. He said learn like you'll live

Forever live like you'll die tomorrow So you really want to invest in your learning. I am a student of public speaking. I watch speeches all the time. I enjoy it. I like learning. I like personal development. And just because you invited me here to speak to 2,000 people, what am I going to stop? No, I got to get better, man. I got to get the lead position and never give it up. So you have to invest in yourself.

You have to invest in yourself to get to be the best what you do with animals. And then you think Lebron and Jordan and Kobe, they quit after they want to ring. They're in the next day. So it's that attitude. And as far as money, I mean, obviously, you want to be responsible with your money. And investing is the best way. Because what it does when you invest invest whether it's real estate stocks Whatever it is or I don't know is You're allowing yourself to be somewhere else While your money is making money and that's a great place to be in if I'm a public speaker or I sell a widget Or you know, I or anything or I'm a service business where I have to be there.

I'm a plumber, my dad, on the plumbing splouse. And that's all I do. I have to physically be there to make money. So I'm limited. I'm capped at how I can scale it or grow it. But if I have a million dollars in real estate and is doubling or appreciating or in the stock market, or whatever, now I can go to my plumbing job, but I also have another revenue stream. So on the charity side, we talked about-

It sounds so basic, but it's true. Yeah, I mean, you mentioned earlier the actual reason, typically when I do the intro, I talk about it. The reason we created this podcast is because we grew up thinking it's rude to talk about money. The same way you said, you just didn't talk about money in your household. Right.

Families grew up, and still to this day, I think it's rude to talk about money. We think of the opposite. The reason that so many people don't know about salary, FICO scores, how to pay their taxes, how to get an apartment, at least loan, what happens if your buddy borrows money? It's because we're not allowed to talk about money with our families and friends because it's rude. The compound effect, the butterfly effect, what happens there? Like, let's say there's a job I go ask for 36,000 and I could have asked for 42 and I didn't know because I could have asked Jesse.

That's 6,000 and I put me back by 2 or 3 or 4 years if I'm getting like a 3% increase a year. Just from a simple question or text message. Oh, I don't pay taxes for four years, so I didn't know I had to pay taxes because when we're 18, we just throw our kids out into the world and they're just supposed to figure it out. They didn't hear about taxes. They can't spell FICO score.

They don't understand what's 401k. 401k sounds like a marathon to go with. Right, like fast, right? You're a 401k? Yeah, damn. We're gonna race that guy. Just to fill, Dan, he went a 4-01 K. Yeah, he got raised.

Right. And so, World Record holder. We just throw these 18-year-old kids out there to figure it out, and it's because we don't talk about it. And so, I think that's why the podcast is resonating with people. I think that's why people are actually enjoying it. That's why we ask you to share it with your friends, family, and followers, because we need to have these discussions.

We need to be able to have a blunt discussion about allowance, salary, jobs, savings, debt, everything between, because how else are we going to figure it out? And we're not learning in school. You live in America, right? Yes. What language do they speak? English.

In Mexico, what language do they speak? Spanish. In business, what language do they speak? Money. In business, what language do they speak? Money. I mean, like that's the universal language of business. If you, how you gonna do in Mexico, if you don't speak Spanish, how you gonna do here, if you don't speak English?

How you gonna do in business, if you don't speak money? You're gonna be. It's made that shit up and that fucking worked. It worked. It worked. Oh, good. It's good. That's in your country. It's so good. Okay, so we talked a bit about making money, talked a bit about investing money.

So good. Now let's talk about the third topic about giving it away. So there's a question that I often ask in this scenario. One day, when you're 100, something years old, 150, who knows? Jesse might live to 200 years old, how healthy is going to be? Will you leave X amount of dollars to your kids? Will you set up a plan? Will you give them nothing? There's so many different versions of the strategy. Do you have a strategy? What are your thoughts about leaving money to kids? Yeah, so that's an individual question that everyone's going to have to make their own question.

And I never had to think about that until I was over, I was over, until I was 40 or 55. And, you know, Sarah, me being part of Sarah, Sarah's my wife and I, because it was really, it's her decision, she's got a lot more money than me. But we, you know, we're part of the giving pledge. So we've already pledged the majority of our wealth, the charity. So that's already accounted for. As far as it goes for our kids, that's a, you know, that's a family decision.

And, you know, like, my personal opinion on it is, and again, I never thought about this, because I didn't, this is all new to me. Not about the a different company. I don't want my kids to I don't want them to have so much that they lose all sense of reality and all their grit and all their you know. Can you imagine being like 27 and just getting a hundred and forty million dollar inheritance and you're like one of four kids like I know

You'll be dead. You also want to put them in a situation where they're my kids, man. I wanted that to be okay. So it's that balance. Yeah. You know, speaking of this and this is the money, the money, Mondays, You see all these people on Instagram and their 20s or 30s that have claiming they've made so much money. I just want someone to say that they have a hundred million. They have a nine figure business and I'm thinking to myself, the fucking Lakers don't make a nine. Like, you know, like, what are you talking about?

Come on, man. We can name the nine figure companies are out there. You have a nine figure company. The Lakers don't have a nine figure. Like what are you talking about? So forget what everyone says. If you're on your own journey, and like Warren Buffett said,

you don't get rich fast. You get rich slowly. And anyone listening for the majority of those, there are get rich quick scenarios and it happens. But don't get fooled by people that say they're get rich quick. I know so many people. I've coached some that I've heard on pie,

and then I go and I said, well, and the numbers are a tenth of what they said. Okay, so forget that. You will make, yeah, I bet you could say the same thing. And tell me if I'm wrong. For me, I've made four times as much money five times in my 40s than I did in my 30s. Because I knew what mistakes to look out for.

I had a way bigger network. I was way better at what I did, way more connected to manufacturers, look, everything. And it became easier. My 20s were hard. 30s. So you want to get, you want to figure out what it is you like to do. You know what you like to do. You want to get really good at it. You're fucking great at it. Tarzan. And in your 20s, you figure it out. 30s, you get great at it. And the 40s, you cash in. in it's the same with you you made a lot of money You were the youngest whatever you were it was something big

Youngest guy in Wall Street or go public and all this and and but you will make more from 42 to 50 Then you will have made in your 20s and 30s. I guarantee it. I'm in more from 40 to 42 than I did my entire life See because all the what you just said. Exactly. So I hate this like pressure that people feel in their 20, like fucking be 20. Right, be 20. Exactly, they go out, network, grow. You know, and that's a really, really important message

that's not out there. So, and by the way, let's say, you know, take the kernel from Kentucky Fried Chicken, we started the business when he was 50, right? You know, if you're older, it's still the same process. What do I like to do? Let me get really good at it, and then let me monetize it. Except at 50, you have a much shorter window

than you do when you're 20, to figure it out, but it's still the same thing, like, what do I love to do? Man, it's gonna take me some time to get great at it, and now I'm gonna monetize it. So, the last subject is about charity. So, we talk about giving away money to charity. But it's not just about money. You can put a lot of time, energy, social media,

show up and donate your energy and help them with that charity. What are your thoughts about people doing charity, whether it's for their personal brand or for their business brand? I mean, if you are in a downward spiral, the easiest way to put a stop plug in the spiral is to do something nice for somebody. Like, and by the way, if you're spiraling, you've got to put a stop plug in it.

So that could be as simple as like, I'm going to go by the guy at the restaurant, anonymously, a dinner. I'm going to go pick up whatever, walking old lady across the street makes you feel good. Now you get some positive momentum in your life. Everybody listening to this is listening for a different reason. Maybe they want to get tips. Maybe they want to get rich.

I don't know, but it's all different. But the one thing everybody listening has in common is they want to feel accomplished. They want a sense of accomplishment. Why do I speak? I feel accomplished when I get off stage. I feel accomplished. Do you understand what I'm saying? And so charity is a really good way to do that. You know, to be like, man, I'm proud of myself. Make yourself proud. And it's the easiest way. And it's helpful. You're helping others.

So I think it's really, really important. And if you don't have money, you can volunteer. You know what else you can do? Pick up shit that's on the, literally, that's on the ground. Just contribute. And you'll feel good about yourself. It sounds, it sounds hokey and ridiculous. But let me tell you something,

go walk an old lady across the street when no one else is doing it. And watch how many people come over you and they're like, that was so nice to you. Right. You know, like, oh my God, why don't I do that? Because it's not on your radar. You're worrying about making money

where the other person is worrying about how can I contribute? Big difference, man. And if you marry both while you're making money, you're also contributing. You know, you're, you're, and in some regards, like my wife had spanks. It was incredibly successful, but it was mission driven.

It started out, I want to help women feel good in the products. And then, you know, Saturday given away $40 million is something by the time she was like 30 something, you know, it was mission driven. No one even knows that. Sorry, Sarah. But my point is, it was driven, like, when it's mission driven like that,

the obstacles become so irrelevant, you know what I mean? Like that why is so important. And that's also a big part of the journey. You know, like you have a mission-driven business. You know, you're exposing people to animals that might not have known about it, and maybe animal cruelty. I don't know, but it's not just selling a widget

to make money. It's not just putting cereal in a box. Load it with sugar, make it addictive, fat and everybody up. Give them diabetes, spike their shit, and go watch your stock go up. Now fuck you. No, I'm serious. Fuck you.

Fuck you. These are our kids. So it's important, man. So along the course of the journey, when you had these 5 or 6 exits, how do you decide, when's that moment when it's like, you know what, I've gotten the business to X amount or I've taken it as far as I could or maybe this is just the right time, like, how are those decisions playing into your mind when it's time to finally sell the company? Again, I think it's an individual decision.

I think it's always better to sell early than late. You never want to trade a player late. In the NBA, you never want to trade a player late. You want to trade them early, you know, that didn't late. For me, most of the times, it's been driven by where I am in my life. So I have still the passion, the enthusiasm for it. I've never built anything to sell it. Like, oh, I'm going to build this. And this is my exit. So it's a combination of passion. It's like any necessity, you know, it's so many factors in that, Dan, competition, risk, the risk. You know, like, here's another just thought,

again, money. As you get older, I feel like I'm the old guy and this thing, man, I'm not the old guy you guys have ever interviewed, I'm 55 now. I feel like an Erwin McManus. Erwin? He sounds old. Erwin's great.

Erwin's an old school name. Yeah, it's a pastor. Yeah, okay. That's a big church. Yeah, mosaic What the hell is I just say Grover yeah What was I just saying oh That's awesome. What was I just saying? As you get over there, risk. Oh, you want to be bulletproof. You want to take the biggest risks off the table.

So again, selling a business now versus when I was young, it's a whole different thing. When I was young, I needed to take the risk off the table. Now I can afford to push it. Right, let it ride. But it ride, house money. So it all depends on where you are on your journey. And you have kids, no kids, are you healthy, not healthy.

There's so many factors there. My suggestion is, if you are struggling with that decision, go to someone that's been not for validation. Oh yeah, like you ask your best friend, of course, you're gonna take the money, go to someone that can really help you make an informed decision. And then I like to think, how would I feel? How would I feel if I sell it? How would I feel if I don't?

From my wife, it was just the right time. She had done it for 20 years, four kids, new chapter of her life. She checked all the boxes, magazine cover, this cover, that cover, and it was just time. It was legendary. Time for the kids to go to college. Yeah, let them fly.

All right guys, well hopefully we're gonna get Jesse and her back here. We like to keep these episodes to 40 minutes. Make sure to follow him across social media. Check out his big ass calendar. Follow along with the marathon. Hopefully you guys will start running more often once you get inspired to see what he's doing,

going out there biking, marathoning, et cetera. Actually do some research about what he talked about in the serial situation. It's actually really important as you could tell by the emotion. It is a big topic that's really important for your children, your nephews, nieces, friends, family, et cetera. Have them really research what he's talking about there

because their minds will be blown of how much sugar and bad things are actually in those cereals. But as we always talk about here, it's really important to have these discussions with your friends, family and followers about money, share the podcast, have the discussions, talk with your friends, and be blunt about it. It's okay. We want to talk about understanding salaries, the taxes, the debts, the jobs, savings, investing, all those things, because it's important for your daily life

especially because we expect people to live a lot longer. When we grew up, there wasn't a whole foods didn't exist. We had 64 ounce therapies at 7.11, right? When we grew up, there wasn't a gym on every corner. We didn't have apps for mental health and fitness and get to watch someone like Jesse do marathons. Self-ones didn't exist, right? Now, kids are growing health and fitness and get to watch someone like Jesse do marathons. Self ones didn't exist. Right.

Now, kids are growing up and hearing and understanding how to be fit, how to be healthy, how to get scans and understand supplements and nutrition, everything between because we have the information. And so I think people are going to live to, especially like your children, I think they're going to live to over 100. You know, some of them might be 110, 120. And so you need to have these discussion discussion understand these topics because it is forever. So thank you having Jesse at Sir here.

Make sure to check them out on social media and we'll see you guys next Monday. And congratulations, man. You guys are a top, you guys are crushing the list. Thank you. And podcast. Top, I checked it out. Top three business, top 50 world.

I can kill in it. Thank you. It's awesome. It's really fun. So you guys keep commenting keep reviewing keep sharing Especially this episode because obviously having someone like Jesse here is a real honor for us. Thank you guys We have the money Mondays dot com the money Mondays dot com is one on one like we do a video coaching every Monday at 4 p.m PST

But the money Mondays dot com is 200 bucks a month or you can prepare for the year All of the profits are going to our worlds are just toy drives But the MoneyMundays.com is 200 bucks a month or you can pre-paid for the year. All of the profits are going to our world's largest toy drive so we're not doing it for the revenue part of it. You'll also notice there's no ads. Have you seen this? We've been doing this MoneyMundays podcast. Ad free for you guys this whole year.

So if you want to, be on the coaching calls every Monday at 4 p.m. PST. If you can't make it on a certain Monday, we obviously send out the recordings. You can rewatch them. So we do about 40 minutes of speaking and teaching. I do most of them, so you know, it's mostly me on those and then every other week or so, every other two weeks, we bring in other characters to come in there and teach you as well. And then I leave around 20 minutes for Q&A sessions and you're on video with me.

And we're going to ask questions. And you're going to be on video with Patrabbe who does e-commerce for big brands or Joey Carson, 30 years in the TV game. So we're not just talking about money on the Monday's Zoom calls, we're talking about business, charity, how to deal with mergers and acquisitions. And so it's live coaching for 200 bucks a month for yourself.

Maybe you might have a friend to refer to. So if you want some real coaching, go to the moneymondays.com, it's 200 bucks a month where you can pay a discount and poopay for the year. That money is going to go help us. The world's largest toy drive. Like we are trying to put out content so that you guys can be better. Talk about money, share it with your friends, etc.

you