The Money Mondays - Ryan Deiss: The Man Who Started A Million Dollar Business For His Dream Girl 👑 E87

Episode Date: September 16, 2024

As a broke college student, Ryan Deiss met the love of his life, and after two weeks of seeing each other, he decided he wanted to marry her. So, he started a business to save up for their wedding ring! Now, he’s with the love of his life and has built a multimillion-dollar business. What a story to tell, am I right? How about you—how far would you go to achieve your goals? --- Ryan Deiss is a top digital marketing expert and founder of Digital Marketer. He’s known for his easy-to-understand strategies that help businesses succeed online. With his innovative methods, he has become a leading figure in the marketing world, making him a trusted resource for growing your business. --- Like this episode? Watch more like it 👇 John Assaraf: Train Your Brain To Achieve Anything You Want: https://youtu.be/-l-_rHfkZlg Meet the Man Who Did Over $4B in Acquisitions - Roland Frasier: https://youtu.be/Ozb2GxLvo9A How To Balance Parenting and Business at the Same Time: https://youtu.be/rZj30yFstcY Dan Martell: The Man with the Cheat Code to Money: https://youtu.be/xj_y30BXEyo Watch ALL Full Episodes Here: https://www.youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k --- 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/@themoneymondays?sub_confirmation=1 Dan Fleyshman, The Money Mondays Learn more here: https://themoneymondays.com Watch all the podcast episodes: https://youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k Let’s Connect... Website: https://themoneymondays.com Podcast: https://podcasts.apple.com/us/podcast/the-money-mondays/id1663564091 Twitter: https://twitter.com/themoneymondays LinkedIn: https://www.linkedin.com/company/the-money-mondays/about/ TikTok: https://tiktok.com/@themoneymondays FB: https://www.facebook.com/The-Money-Mondays-110233585203220/

I don't believe that anything that I have is mine. I believe that anything that I have has been given to me to be stewarded over. And so it is my job to figure out what is the best way to deploy this capital in a way that is going to benefit others, right? That's what I got. So.

Ladies and gentlemen, welcome to the Money Mondays. We are here inside of RV Motorhome in Carlsbad, California. We're parked in the valet of this fancy resort because our guest, Ryan Dice, inside doesn't have one mastermind going on. He has two masterminds going on. It's just on the hallway from each other. $42,000 investment for high level people

that wanna buy and sell businesses. Right down the hall on the other side, $55,000 investment for high level people that want to buy and sell businesses right down the hall on the other side $55,000 investment partnered up with Damon John One of our favorite guests we've ever had on this episode And so we're gonna dive deep into why is it important to be part of masterminds? How does he help throw 10,000 person event like traffic and conversion summit and all the things he's done in his career so the way we work here as you know is this podcast will be less than 40 minutes because the average workout is 45 minutes.

The average commute to work is 45 minutes. So this episode will be between 35 and 38 minutes for your listening pleasure. As you know, you can visit us at the money mondays.com. It obviously helps us when you can like comment, subscribe. That's why we've been able to be in the top 50 in the world of podcasts because of your guys' support. And I've been running this podcast ad free for over a year and a half now, just to support you guys,

because I want people to have discussions about money. So without further ado, Mr. Ryan Dice, give us the quick two minute bio so we can get straight to the money. Sure, started my first business online in 1999 for my college dorm room. So I could buy an engagement ring for my then girlfriend. We've been dating for about two weeks. I didn't tell her that she was going to be my future wife because I knew that would be creepy.

But I did know I was broke. I figured I should figure out a way to make some extra money if one day I intended to propose. And so I started a website that day and started selling things online and the rest as they say is history. One website turned into another, into another. By the time I graduated we had a bunch of them and have never really had a real job. Interesting. That's the idea. But yeah, literally it was just started from the thing of how can I make some extra money? Probably something a lot of people can relate to. Are there any investments or brands or anything in particular along the way that you're like, man, that was really fun for me,

like that was the one? So there's a lot of missed opportunities that I've had along the way. I'll tell you, when it comes to investing, my strategy has always been to invest in things that I know that I like in places where I can add value. Where I have completely messed up has been when I've invested in things that I don't know

that just seem like good opportunities and when I was chasing. And so I think a lot of times when it comes to investing, if everybody's excited about it and you're getting that FOMO, you're probably about to make a bad decision. When I've looked at something and I said, I know, I have enough experience in this area to know that this is more valuable than everybody else sees it, you know, I want to go in. That being said, you also need to trust the people around you who are smarter. Had a really good friend back in, I don't know, 2008, 2000, maybe 2010. I don't remember the exact date.

He said, you should go buy some Bitcoin. And I went, what is Bitcoin? He said, don't worry about it. Just go get it. And I think at the time it was like 300 bucks a coin. And I did, I wish I'd have bought more. So I kind of have two speeds. I either blindly trust the people that I trust.

And if they say I should do it, then I'll do it. And the group of those people are very, very small. Or I have to 100% know that I could go in and add value to that and I have to see it. And there's nothing in between for me. So you've got multiple masterminds going, you guys built up traffic and conversion summits with 10,000 people, 8,000 people, 11,000 people a year

for many years, for over a decade. Why do you like throwing events? Why do you like being involved in the event category? Man, I hate it actually. I don't like it. And I think that that's important. I don't do it because I like it, I do it because our customers like it and and and and I think that that's important. I don't do it because I like it I do it because our customers like it. And so to me it freaks me out. It makes me I'm terrified everything the reason we sold the company

Was because I would have recurring nightmares leading up to the event about walking out on stage and nobody's there or Literally, I'm trying to go from one hallway Trying to make from one stage to another and I get trapped in the back of the house and I can't get out and I can't make my stage time. So I didn't set to do it because I was following any particular passion and that's characteristic across all my businesses. That very first business that I launched back in 1999 was selling an ebook on how to make

your own baby food. Well, I was a college freshman. I was 19 years old I I didn't I mean now I got four kids and you know But there were people who were looking for it. I Happen to know somebody who wrote a book on it And so I took the PDF that she wrote converted it and so, you know put it online So my game has always just been following the customer wherever

They wanted to go. I've seen myself in following the customer wherever they wanted to go. I've seen myself in service of it. And events, most of the business that we have, because they're so customer-centric, I've just found that people want to gather. And so people would say, oh, I wish there was an event on this, which you could put together. And the very first Traffic and Conversion Summit that we did, it was my business partner at the time, Perry and I,, we should put on an event.

All the other events suck. They're basically just pitch fests. What if we did one where our entire goal, we don't care how much money we make, our entire goal is, let's have everybody leave and say, that was the best event I've ever been to. And just like our plan stated, we did not make money. We lost lots of money.

But everybody left saying that was the best ever. And so we were like, let's do it again. And so we weren't chasing any particular strategic endeavor. I didn't spreadsheet it out ahead of time. I just knew the market was pulling us in that direction. And so we followed. So when you're building something like that that has thousands and thousands of people,

then thousands and thousands more people year after year, how do you decide to sell a trafficking version in that example? How do you know it's like, okay, you know what? This is the time that private equity group or a competitor that wants to buy us or private investors, like how do you know when it's the right time to make the next hit?

You don't know. So much of it is gut. Like I said, I was truly worried about, the event was getting to a point of scale where if something bad happened, it was potentially financially ruinous. And I just didn't like the downside anymore. And I think this is important in business. A lot of times when we're considering an opportunity, we consider the best case scenario. We don't consider the worst case scenario. We don't consider, man, if this thing fails miserably, can I

survive that? If there's a rainstorm or hurricane, what would happen? Well, and I was truly like, what if there's a terrorist attack? What if, you know, I'll tell you what I wasn't thinking, pandemic, but what happened? I mean, we decided that we were gonna sell that event in 2018, we had our earn out in 2019.

Oh my God. So you wanna talk about timing. Right before March, 2020. Literally, we had sold and got our earn out before then. So you call it God. So you want to talk about timing. Right before March 2020. Literally, we had sold and got our own out before then. So you call it God, but I had a feeling that we needed to do it. Now, how did I at the time justify it? I was saying, we're coming up on our 10th year.

10 years is a really long time. We haven't had anything go wrong. I remember Seinfeld, you know, Seinfeld decided to cut Seinfeld the show at nine years. Yeah, because that's how long the Beatles lasted. So why should he get 10? So that's in the back of my mind. So there's all these like arbitrary things. And I just want to be transparent. Again, I didn't spreadsheet this thing. Now I had a, you know, a buddy who sold an event around the same time. He had done well. And so there were enough things

that happened where talking to them, he said it was a good idea and we did it. But it was mostly just gut feeling. So for the company owners that are out there listening, why is it important for themselves or their executives to attend business conferences? It's you. I would have said if you'd asked me this question maybe even five years ago, I said, that's where the best content is. I now think the best contents's in venues like this. It's on YouTube, it's podcasts.

Now you go, because the content is the gathering, is what creates the reason for people to gather. Yeah, that's all that it is. And it's the conversations with the people. And you and I were talking literally as we're walking over to record this, you know, like how's the last couple of days gone? It's been great, but I'm tired, right?

Cause I'm an introvert. But I know that if I'm gonna grow, it's gonna come through the interactions and it's gonna come through the network. It's not gonna go through me just sitting in my room watching YouTube videos all day learning. I've gotta have ideas, I got to put those ideas out. I got to see, in these conversations, can people poke holes in them? Do they stand up to scrutiny?

Have people plus them? And it's in those interactions that not only do the ideas get better, do new ideas get formed, but relationships get formed that you can go back to even when you're not at the event. I think it's essential and this again this comes to somebody who Generally hates events like doesn't want to do them and is an introvert and doesn't want to go But I will make myself do it because it is just that important and it's like exercise. I don't like exercising I like having exercised I don't necessarily like going to two events. I You know when I'm there. I like it when I'm done though

So someone that's out there is considering sponsoring Mastermind, an event, a conference in their industry. Why would it be useful for them to sponsor, be aligned with certain events in their niche? Because somebody else has already done the hard work. I would talk to some of our sponsors and they would make more money off of the event than I did as the promoter. Right. Right. Right?

Absolutely. And because the hardest thing in the world that you will ever do is to aggregate the attention of a definable audience in one place at one time. I think there's almost nothing more difficult than that, especially in this time where there's so many distractions. Right. So if you can get everybody physically in one place, man, that's so freaking hard, and people will be like, oh, well, why would I bother sponsoring an event?

There's only a couple thousand people there, or only a couple hundred people. You know, if I go and do ads, I can reach millions, because they're not really paying attention there. Also, the quality of people who attend events is just next level. So we put on events, we're sponsors of our own events. So we sold Traffic and Conversion Summit.

But the business that started that event, Digital Marketer, it still pays to sponsor that event. That's cool. Because we see the value in sponsoring and it's still being there. So someone's at an event, they collected 20 business cards, they got 20 phone numbers, put it in their contacts, they followed six people on social media They interact with 46 different people

What should they do the week after the event once they've got those 46 people in their business cards and contacts? I think your job if you want to get good at networking your your job is to Be the person who comes up with the reason why it makes sense to follow up with them And so if you're just following up to be like hey, you just want to check in and see how things are going Yeah, that's a distraction. Like I don't need that. Successful. Again, we were talking about this successful people don't enjoy small talk. We just don't have time for it. So if you are serious about actually turning those 46 business cards or, you know, however the docking on the phones happen now into real relationships that are meaningful, you need to put the responsibility on yourself to say, okay, with everything that's going

on, how can I come up with an opportunity for this person that I can be involved in? Don't do what everybody else does, which is say, you know, also, where do you need help right now? Right. You know, even though like, you like, what has you super excited? Like, I feel like you gave me homework. Like, I feel like I obligated to give you a really interesting answer that I don't necessarily have. Meet people. Be cool. Be normal. Be kind. Positive, helpful, and kind.

That's what I teach my kids. PHK. Everybody likes somebody who's positive, who's helpful, and who is kind. Be that during the interaction, but then take the next step of doing the creative work of saying how can I come up with a way for us to actually do something together? It's what we do with Damon. I met Damon and connected at an event, but there was an opportunity to do some things together in the survival space at the time because they had a business in that space and he did too.

And so that's why we got to do business together and that's when we became friends and that's when we did more businesses together. How do you convince busy people to come to San Diego, California, Las Vegas, Nevada, etc. to a three-day conference? It is one of the hardest things in the world that I've ever done in business, Right? It really put in butts in seats. I know I don't have to tell you this. Putting butts in seats I truly think is one of the most difficult businesses that you can be in. It looks sexy from the outside in. That's fine.

And it is a combination in the first couple of years of an event. You really do need to sell people on what they're gonna get when they come. So maybe it's content, maybe it's certain celebrities that are gonna be there, but there's gotta be a draw. Now, after three years, people come just because that's where they go. Right. And so the goal should always be to create the place, but the mistake that people make is they don't invest enough on that experience when folks are there that they want to come back.

And so people come and they're like, well, people spent some money, so I want to try to extract as much from this audience as I can. Right. Because putting on this thing was really expensive and it was really hard. So I better make a lot of money. Or what was the point without realizing it? That original model of what if we just have everybody leaving saying, oh, my God, that was the best event I've ever been to. That is the model for getting people to come back. The hardest thing you'll do though is get people to come the first year. And how do you do it?

Boston has like big promises, marketing like crazy, strategic partnerships. If you can get some, involve somebody else in it who has the audience, so you can piggyback off of their credibility. So they bring their people, and multiple people are bringing their people. But if everybody leaves saying,

that was the best I've ever been to, not only will they come back, but they'll tell their friends. We sold out Traffic and Conversion Summit months in advance, doing very little marketing, because it was just the place that people went. So you sell a company on a Friday, tens of millions of dollars comes in, I'm just making up a number, tens of millions of dollars comes in on Monday.

What happens on Tuesday? After you sell a company that you've been building up for years and years and years, what do you do the day after? So I, we advise a lot of people who sell their businesses and that's exactly the question that I ask everybody and if they don't have an answer I tell them don't sell your company. So what I did the very next day and we didn't sell it on Monday, we sold it on Tuesday, tens of millions of dollars did hit and on Wednesday I woke up and did exactly the same

thing I did the day before. Because that wasn't the only business we had. We had multiple businesses and I think it's so incredibly important because a lot of entrepreneurs that work really, really hard to build up this company and then they sell it. But because they don't know what their next act is going to be, they've lost all their identity and they're miserable. And so they do some combination of, well, I guess I'm just going to go into a bunch of investments, but they don't really know how to invest. They know how to operate, but they don't know how to invest. So they wind up losing a bunch of investments. But they don't really know how to invest. They know how to operate. But they don't know how to invest.

So they wind up losing a bunch of money. Now they don't have any money coming in. The money they had is getting smaller because they're bad at investing. And now they're flailing around trying to do additional startups, but it's hard and they don't quite have the motivation they had before. And all they want at the end of the day

is to own that business that they sold. And so to answer your question specifically about me, I did exactly the same thing. And my advice to anybody is, if you're gonna sell a business, what new business are you gonna be into? What is that next act going to look like? And so if it's not a new company,

then what charity work are you gonna do? But you've got to have another mountain to climb or you're gonna be fricking miserable. So when you have so many thousands of people that attend your events, you have, you know, your phone book gets big, you meet so many people over the years. How do you decide what you invest your money into?

Like, how do you decide when people are pitching you, asking you to do joint ventures, et cetera? Like, how do you decide when you can do real estate, stock market, crypto, angel investing, private equity, da da da, there's so many things you could be doing Like how do you decide when you can do real estate, stock market, crypto, angel investing, private equity, da da da, there's so many things you could be doing. How do you make decisions about investing? I create buckets of investments.

And so the largest bucket that I have is my active investment portfolio where I'm gonna be investing in the businesses that I have some ownership interest in. Because I am good at scaling companies. I'm good at the growth side, at the op side. And so I want to put the bulk, I want to invest mostly in myself.

So that is the largest chunk of my investments. It's 60%, 70%. Then what I have is about 10% of just, I call it my FOMO fund. FOMO fund fund. So if it is just, I gotta do it because I gotta do it. If a friend calls me up and says, throw some money at Bitcoin. If whatever it's like, hey, I know you and I trust you. Then or you got a buddy who is thinking about starting a restaurant.

I like this friend. I think a restaurant is a terrible business, but it'd be fun to walk into a place and norm, you know, that's going to come from the fun fund investment, but that is 10% at most of my, of my total of what I've got out there in that. But I do think it's important to have just, I want to throw some stupid money at it. Incidentally, if I want to buy a luxury, it's going to come out of there too, because that's an investment in fun. But I do think it's important to have just I want to throw some stupid money at it. Incidentally, if I want to buy a luxury, it's going to come out of there too, because that's an investment in fun. Right. So if I'm going to if I'm going to buy a stupid car that I know is not going to turn. But this is I'm I'm essentially lighting this on fire fund,

but it's going to be freaking fun. If it happens to work out, great. If it happens to work out, great. But if it happens to work out, then it moves from that to something I now know fund. Right. So I'm going to reallocate my portfolio. So 60-ish percent here, no more than 10 percent here, and the middle is just sitting in index funds or cash equivalents so that I can put it into an opportunity that's in the 60 percent. And that's how I do it. That's how I allocate mine. I like it.

So I have this thing that I speak about for many, many years called the 40-40-20 principle. Okay. I take 40% into the low risk, hoping to make between 5% and 9% for the year. I take 40% for medium risk, hoping to make between 10% and 30% for the year. This is cash flowing businesses, the stock market and real estate. And then I have my 20%. Yep. This is my high risk.

This is my shot at glory. This is angel investing, cryptocurrency that if I get it right, I want it to be 8X, 12X, 20X, something crazy to happen. And if I get it wrong or it takes too long, the medium risk and low risk will cover the high risk. And you can adjust the percentages however you guys want, obviously.

You have to also determine what type of investor are you. When you're listening to me talk about low risk stuff, making 5 to 9% a year, but it's super, super safe, basically 100% safe, maybe that's where you're comfortable with. If you just love 10 to 30% like real estate, flipping houses, buying the stocks, cash flowing businesses, et cetera, well, that's cool. You can adjust that percentage however you want, or you might listen to high risk like, oh no, I want to be all in a high risk. The reason I do that format is so I don't go all in high risk like, oh no, I want to be all in a high risk. The reason I do that for a moment is so I don't go all in high risk.

I don't just gamble. You have, I believe it, you got to treat it like a business. In business, you're going to have budget allocations. And so I think as long as you're intentional, you'll figure out what works for you. And so for me, I don't like the stock market because the stock market is too close to business. But I want to just get my hands dirty there.

I can add value. So if I'm going to add value, I'm going to invest more in private companies. But I mean, I invest in index funds. That's technically the stock market. I get it. But I'm not buying and selling stocks. I also don't necessarily love real estate. I own some real estate, but I don't even like changing light bulbs. I'm not handy at all. And so I don't feel like I can add much value there. I'm not saying that real estate is a bad investment. It's just not my favorite. And so I think it's important to, because different people say like,

oh, this is the best possible investment. You have to be in this category. The wealthiest people I know completely ignore certain categories that everybody else says you absolutely should be in. So as long as you got an allocation and you think in terms of risk tolerance Which is exactly what you're describing the specific asset class that you're investing in You know don't feel like you got to be in at all

So as I mentioned inside you got $42,000 mastermind in there, you know a $55,000 mastermind with Damon John in there Why is it important for people to invest into themselves? Why are masterminds important? What is the value of it to network and themselves? Why are masterminds important? What is the value of it to network and things like that? It's the ultimate shortcut. It takes a really long time to build a network if you're building it organically just doing the shake and howdy, especially if you're an introvert, right? I've got, I had a guy that worked for me for a number of years, director of sales and partnerships. This guy would walk into a room of total strangers and think, yay, new friends.

I walk into that room and I go, oh God, kill me, right? He would be that weirdo who sits on the plane in first class and strikes up a conversation with a stranger next to him. I'm the person who's walking in, headphones on, don't talk to me. For him, he probably doesn't need a mastermind. Now, it'd still be faster. For him, he probably doesn't need a mastermind. Now, it'd still be faster.

But he probably doesn't need it, but he is the ultra other end of the spectrum. The mastermind would be a good filter for him instead of working in the bar. Yeah, it'd be much, much faster. But I think, again, somebody's already done the hard work of aggregating the people that you want. You don't have to do that.

And because if it's an established mastermind, people get figured out pretty quickly. We both run masterminds and every now and then, slimy chuckleheads will find their way in. We can do our best to filter, but snakes are good at pretending. It's why they are who they are. But they do get filtered out in a group setting like that. You just can't hide in a group. So not only have the best people been assembled,

but the quality of a mastermind is determined by who's not allowed in the room and great masterminds, they don't just assemble great people. They keep bad people out. And so to have that all in one place, it's the best money that you can spend in business. And I don't just say that because I run them. I run them because I benefit from them. And I want to do them with other smart people.

You know, you've talked about the two we had today. The two days before that, we had a different one. Targeting a different group of people. So we had three different masterminds going on over the last four days. Yeah. That's fascinating. That's a lot of moving parts. It it is got a great team

Yeah, get a great team. I don't have to think about most of it Okay on the charity side of things. Why is it important for? Executives at a company to get their staff members Involved in some charity work. So I I take a slightly different stance on this. I'm personally, I donate a fair bit to charity. I believe that you should tie 10%. So for me, I do that to my church and I give over and above that to the charities that matter. At the business level, I've always struggled a bit.

And maybe you can help me on this and you can do some personal therapy here With me. I've struggled a bit to Force that value upon my team members. And so I know a lot of businesses were one of their core values is like we get Back and we're charitable. It's not one of ours and it's not because I don't value it It's because that doesn't exist at the company level Now the people that we hire are charitable people and I like

to think that they give, but it's not necessarily something that we force top down. So, you know, I mean, that's something obviously that I know you do and you're passionate about, you know, it happens. Like, what am I missing? So oftentimes people think about the money part of it, the cash part of it. I make it the experience part of it to make the staff members closer together. And so I get them to rally together, hey we're all gonna go down to the homeless shelter for four hours. Okay well we do that. There you go. Okay cool. I gotta be missing something here. Yeah no. Back to school supplies, Thanksgiving food drives, toy drives. Yep. I don't care if they put money up. I want them to show up with

their kids and their cousins and sisters and husbands and wives and they all network with each other and they get to rally together and bring 300 toys to. For years at Digital Marketer, we stopped doing this during because of COVID, because the charity that we were giving to had some issues. But we did this event called the Black Friday Bootcamp. And it's like, hey, while everybody else on Black Friday is running sales, we're just going to give away free content.

So we're going to run this like all day sales, we're just going to give away free content. So we're going to run this all day session where we're just going to be giving away free content. And every, it was a paid webinar, essentially. It's like $10 or $20. And we said, we're going to donate all of it to the Children's Cancer Charity that was kind of local in town. And it was, you're right, I mean, people worked on Black Friday

because it was a give back opportunity on their day off. And when we would bring that charity in, and those kids, and present them with the check, that was one of the best days. So yeah, I don't know why I didn't think about that. It creates an emotional bond. It creates memories. Yeah.

It makes them think about the company different. It makes them think about each other different. So that's why I'm so pushy about charity events. I literally never say bring cash. Yeah. I want you to bring cranberry sauce to Thanksgiving food drive. Bring toys that are $2 for all I care. Come to the back to school supply drive and bring pencils and erasers.

Just want people to show up. And then when hundreds of people show up and they're taking pictures and videos and networking and meeting people and seeing the actual kids, they talk about it for years. Well let's be totally transparent. You get everybody that we're going to be working with at a certain level, it is far more valuable for them to give an afternoon, a day of their time than it is for them to write a check in most cases. And I believe that's actually true

of most of your team members. I mean, in Western society, come on. I mean, all of us are doing pretty well. The thing that is most scarce is time. And so yeah, I like that. All right, so the last question is a question I ask every time and I've never gotten the same answer. And it's a emotional decision that sometimes you have to ask your counterpart,

could be your wife, could be family, et cetera. Many, many years from now, could be a hundred years from now with modern technology, because you might have bionic arms and, you know, a lot of diseases are going to get cured. So hopefully it's a long, long time from now. And it's finally time for Ryan Dice to pass away. I said in that moment. You've acquired billions of dollars. You've had all these investments, you put up all these companies, you have the biggest masterminds on the planet, and you've claimed all these assets. And now let's just say you have one billion dollars cash.

What percentage do you leave to those children? One billion dollars cash. What percentage do you leave to those children? As it stands today, the vast majority, if not 100% of it. Wow, I love it. Because I trust my... Man, I've got a 12-year-old, a 14-year-old, a 16-year-old, an 18-year-old. Well, cool. And these kids are awesome.

These kids, they're not perfect, but these kids practice being positive, helpful and kind. They're not selfish, they're not, I believe, to me, if you're going to leave it, leave it with a good steward of it. I don't believe that anything that I have is mine. I believe that anything that I have has been given to me to be steward of it. I don't believe that anything that I have is mine. I believe that anything that I have has been given to me

to be stewarded over. And so it is my job to figure out what is the best way to deploy this capital in a way that is going to benefit others, right? That's what I got. So who gets it? The best steward gets it. I hope that that's my children, because at the end of the day,

the only legacy that I have is my kids. The businesses will be sold, they'll be broken up, whatever, they'll move on. They'll get disrupted and defeated and all those other things, fine. The only legacy that I really have is my children. And I hope the legacy is a legacy of good stewardship. And if it is, then they will get it,

and they will get all of it, as much of it as possible. All right, guys, you're listening to the Money Mondays. Make sure to check out Ryan Dice across social media. That's D-I-D-E-I-S-S. His content is fantastic. He's been doing this for a long, long time. A lot of people just talk about stuff. He's actually lived and breathed for many, many years.

I've watched him for almost two decades now, being in the game of marketing and obviously building large format events, but really about the marketing side of things and investing in the companies, helping them scale and exit. So check him out across social media. Obviously if you can, go to one of his masterminds, go to his live conferences, et cetera.

Get involved in these circles and situations because it can literally change your life forever being in those type of rooms and the people that you meet. The content you can consume is fantastic but the people you meet us for a lifetime. Here at the Money Mondays as you know we all grew up thinking it's rude to talk about money and at the Money Mondays we believe it's rude to not talk about it. So make sure to have a discussion with your friends, family, followers. Share this content across social media so we can keep being in the

Top 50 podcast. It's important to us. I've just seen we'd run this ad free I want to make this a nice easy experience for you guys to consume the content in under 40 minutes But it's important that you have these discussions I don't care if you tweet it Facebook it wherever just show showcase the best clips or showcase the whole podcast With your friends with your family and have these discussions about accounting taxes Salary finances investing because we need this we need this in our society more than ever. We have to understand it. We have to talk about it. So check out Ryan Dice. We will see you guys next Monday on the Money Mondays.