The Money Mondays - The Power of MONEY: Andrew Cordle, Eddie Wilson, Scott Donnell | E42

Episode Date: November 6, 2023

In this special episode, join us as we explore the insights of Andrew Cordle, Eddie Wilson, and Scott Donnell on wealth, financial empowerment, and philanthropy. Discover the keys to success and how they have impacted the lives of countless individuals. 💪 Andrew Cordle, an entrepreneur with a passion for philanthropy and education, is dedicated to guiding individuals on their path to wealth and contentment. He emphasizes the concept of money as a driving force in people's lives, influencing their daily choices, retirement, travel, and debt management. An Amazon best-selling author, he has been featured in Forbes, CNN, Fox News, HGTV, CNBC, and more. With a global reach and viral training sessions, Andrew shares his strategies for financial success and empowers people worldwide. Eddie Wilson is a seasoned entrepreneur and business leader with a track record of success. With ownership in over 115 companies, successful exits from 80 of them, and the management of 4,000 employees, Eddie's experience speaks volumes. He currently serves as the Leader/CEO of Think Realty and The American Association of Private Lenders. He's also a co-owner of Collective Influence, a Private Equity Firm overseeing a portfolio of diverse brands. Eddie excels in building sustainable business models, delivering impressive returns for investors and clients, expanding customer bases efficiently, and nurturing leadership potential. Scott Donnell, an accomplished visionary, has achieved the remarkable feat of serving one billion people and generously giving one billion dollars. Scott's dedication extends to education, as he founded a school and passionately imparts knowledge. His entrepreneurial success includes owning businesses employing 100,000 individuals. Specializing in banking fintech, financial literacy, creating superheroes, and contributions to biotech and school fundraising, he combines fun with meaningful impact. Like this episode? Watch more like it 👇 Timothy Sykes Made Millions Trading PENNY STOCKS 💰📈: https://youtu.be/EE2Dwe4Mvj0 From RICO Crimes to Global Stages - The Journey of Damon West: https://youtu.be/-dy4uIzuav4 Avoid These MISTAKES If You Want to Make $$ at Live Events: https://youtu.be/-ApxA3UfTKk 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/

Ladies and gentlemen, welcome to the Money Mondays. I'm here with my co-host, the real Tarzan. Tarzan gets over 200 million views a month across social media. That just helped us a lot. To be the number one podcast in the entrepreneur category for 154 days in a row. Thanks to you guys. So like, comment, share, subscribe, all that stuff. As you guys know, we don't run ads here because we want you guys to help support the mission is what we care about the most, which is having people talk about money. We all group thinking through to talk about money. We believe it's rude to not talk about money. That's why a lot of our country has these problems, where they don't talk

about salary, psychoscores, 401k jobs, leases, loans, apartments, rent. What everything that goes on in our world is, that's real life stuff, we need to have a conversation about it, we need you to have a conversation with your friends, family, and followers. Now, today's episode is gonna be really easy for me because it's with two of my dear friends, my business partners, you guys heard a whole episode about this, these guys own multiple companies,

one of them has had over 85 exits, one sold 300 million dollars from stage, so you guys are gonna have a lot of fun on this action packed episode. We're gonna keep it to 40 minutes, just like always, because the average workout is 45 minutes. The average commute is 45 minutes. So we're gonna do a 40 minute episode right now

with the money Mondays, with our special guest, Andrew Cordell and Eddie Wilson. What's up, Dan? And the crowd goes wild. The crowd goes wild, I heard them. All right guys, this is the way we do it. We do two minute bios and we get straight to the money. So first, let's start with Andrew Cornell.

Two minute bio? Yeah. So entrepreneur my whole life and now co-founded, Collective Influence, was a private equity company. Backright is always in real estate. It did over 1,000 fixed inflips and then got into the speaking side and then traveled the world. 22 countries, 22 countries, all 50 states.

And like you said, it did over $300 million on stage on sales. And then we launched a Spire, which is, I think for us, my favorite company we have right now is a Spire. It's so freaking fun, you rinse. We're just in the driveway outside. There's gonna be over 2,000 people right in there

with Gary Vee, Drew Breeze, Jesse Yetz, their Emily Ford Dave Meltzer. Literally seven feet away from us right now. Sorry, keep going. Yeah, we're in San Diego. We leave from here, we go to Chicago. And then it's to be, it's a fun company for sure, it's a spire one. So that's a little bit about me.

Eddie Wilson? Yeah, so I'm Eddie Wilson, serial entrepreneur as well. My moniker is the king of Xs because I've sold now 93 companies. I got to do my intro over again. I'll just keep going. Andrew keeps buying him. I keep selling. And, but anyways, the Echo founder with collective influences

is our second private equity firm. The first private equity firm built to 86 companies sold 76 of them in one year. Wow. So a lot of those exits all came in one year. And again, he talked me into doing the aspire tour. And it's kind of led to a lot of other things. Here we are. So yeah. All right, guys. So the main three categories we talk about is how to make money, how to

invest money, how to give it away to charity. So on the make money side, you guys literally created a mastermind called Money is Mastermind. Explain the money is mastermind, why does it exist and why are there over 500 members in this mastermind. We'll start with Andrew and I want to get Eddie's take also. How long do you want this answer? Is this a two minute? No, okay.

So, you know, it was crazy as you just talk about 500 members. That's 500 members in the first like six months, I think. No way. Yeah, so that's like, I should know that, right? Yeah, you actually own it, Dave. You do own it. But it's like 500 members in the first like six months.

And so, the money is mastermind, similar to the money Mondays, and it's really about having, the money is mastermind, similar to the money Mondays, and is really about having, the money is mastermind focused on entrepreneurs, small business owners, discussing the topic of money, and how does it work? And, you know, a lot of times inside of money,

I forget on the three basic principles inside of money is, you have to know how to create it, you have to know how to keep it, and you have to know how to protect it. And by keeping it, it's the kind of the biggest piece that we hit on a lot, which is, entrepreneur is normally you can always make money, but it always seems like they have the money and then they don't have the money.

So it comes in, they know they have it, but then it's like gone again. And it's just helping to understand how that operates, how that works. And then really moving them into self-directed investing, which is a little bit different, obviously from the model of you talked about 401ks or IRAs or stuff like that. It's a self-directed side. So once the entrepreneur is through, know how to create money, move into self-directed, they think they can go invest inside of private equity, different types of real estate syndications, etc. where they control their future of money versus handing it over to someone else

and say it a 401K and letting them control it. The self-directed puts you in charge of your money, especially what the money is mass demand is really all about. So Eddie, people are paying $15,000 to join a group like the money is mass-traumatic. Why are they so passionate about it? Why is it important to them? Why should business owners, entrepreneurs,

considering being not just money is mass-traumatic, but being a mass-traumatic in general, why is it important to be part of things like this? Sure, yeah, so I mean, Andrew in the money is mass-traumatic really teaches them a theory of how to invest and why they should invest. And he teaches three things, how to create money, how to keep money and how to protect money.

And my job at the money is mastermind is really to put the right deals in front of them and help them underwrite it. And so you know, you and I, we get to see deals every single day. And we get to play with the top 1% of the 1%. But most of the average people that are in America today, you know, either high-income W2 earners

or they've also got their maybe own business or side hustle, they're never gonna see deals like we see every single day. And so we bring that to them and that's why these people see so much value in the $15,000. Is they're gonna see deals, private equity deals that the general public's never gonna see.

They're gonna see apartment complex, they're gonna see single-family homes, they're gonna see storage units, mobile homes. We're bringing all kinds of investments to them, crypto opportunities. And so they get access to deals that typically people at Wall Street are getting, but Main Street is not getting. And so we're bringing those deals and teaching them how to look at them, how to underwrite them, how to invest in them so that they can have the same earning potential, same income potential, same gains that the top 1% of the 1% get.

Quick pop quiz question. You see a guy like the real Tarzan. 200 million views on social media. He makes all this money from brand campaigns. Money's coming in. What should the Tarzan do with money? What? What should he do with money?

What should he do with money? Yeah. Buy another snake. No, no, no. God no. Just once sitting right behind me as we speak, right behind me right now. Like less than a two feet away from you as a snake.

You know, I think when it comes to money with most entrepreneurs, it's really about knowing where to put it. And so like I said, most entrepreneurs don't have a problem with knowing how to create it. You got over two million views, you have all these brand deals coming in. That's the creating part. Once you can move from the creating part into knowing how to create it. You got over 2 million views, you have all these brand deals coming in, that's the creating part. Once you can move from the creating part into knowing how to keep it,

and when I keep it, a lot of times people think I'm talking about like how to budget it, and that's the last thing I'm actually talking about, it's how to budget it. What I'm really talking about is knowing how to structure it into tax-free accounts. And so inside of America,

tomorrow at the Aspire event, I'm gonna talk about there's five different tax-free accounts that exist. And my guess is right now, the one that me and Eddie have that we use the most of is called a Rob's, R O B S. Rob's, if he stands for a rollover business startup. And so what happens is all the money that we make this year, we had 91 million dollars with the exits. If we have that in basic L L C structure, right? We're going to get tax of the wazoo on all that money that comes in.

Structure inside of tax-free accounts that the wealthy have used for freaking generations basically allows us to structure inside of a rob's. The money goes into that account, which is a basic C corporation. We were done at the end of the year, or anytime you want to really best say that in the year, we take all the profit from that company and can push it into our solo Roth tax-free accounts. And now all of a sudden, our tax-free accounts have, in this example, say, $40 million and $40 million of tax-free income that we now have inside of what's called a Rob's structure. It's been around forever.

There's five different types of tax-free accounts. Rob's is a structure inside of it. So, Tarzan, as you have these brand deals, you have all these income coming in. It's not really so much about how much you create, it's really about how much you're actually keeping. And once you understand keeping it in between, just knowing how to structure it the right way, stuff that Dan, to the point of this money, money, money podcast, that we are never freaking talk any of this stuff that's out there. Like, as I'm saying, the word robs, the most people on the list, they have no idea what I'm talking

about. And here's what's crazy. If you actually go to your basic CPA and ask them, they'll have no idea what I'm talking about. You're really dealing with what Eddie kind of brought into it long time ago was like the family office side. And when you get to the family offices, which is a really, really wealthy side, they'll use the rob structure, these tax free accounts all day long. So what it really comes down to is you could tarzan make five million dollars in creating it with all the views and the brand deals. But if you have to turn around and then pay taxes and all that money or what most entrepreneurs do is they play the game of they actually get

back at their rate. So what that means is they'll make five million but they'll spend five million because they need to deduct it. And so their thought process is well if I have this deduction, if I spend it over here I get this deduction and at the end of the year, I'm going to go to zero. Therefore, I don't have to pay the government because I'm at zero, which is there's true to that. The issue is, you're back at zero, and you made five million, but you lost five million, because you don't have it no more. You spend it on a bunch of stuff. That's really cool, that you can credit to deduct and so forth, the new cars and

so forth, but you don't have the money anymore. What the wealthy have mastered is they know how to create five million, and they know how to keep 5 million. That is the biggest game changer when someone in the money is mastermind processes that and understands is like, oh shit, I should have to work more, I don't have to work harder. I just have to restructure what I'm freaking doing so that I can actually keep what I make just like the wealthy, keep what they make. Does that make sense?

That's the biggest I can tell you. So Tarzan also has a brand. Yeah. And it's getting lots and lots of traction. Is doing all this consumer products. Yeah. Eddie, how can he plan in advance of selling his company? Yeah. That's a good one. That's a good one. I've exited 93 times.

There are three questions I could ask every single time I exit a company. Number one, it's EBITDA. Right? Like what's your bottom line? How much are you keeping, right? What's your net? Number two, it's your IP. What are you doing that's different than everyone else?

That's why Kevin O'Leary always says, why should I spend a million on your company? Why I could take 500 grand and go redo exactly what you're doing for 500 grand? You have to do something different than anyone else. You can do that through technology, you can do it through your data, you can do it through a lot of different things,

via IP, and then thirdly, an operating system. So what most people don't understand is you always get another multiple or two if you have somebody that's actually running your organization that's running it systematically so that if the top layer of management gets moved out, you can put somebody in and they run it the same as it has running without losing.

So those are the three questions I get asked every time. However, because you're a brand, the biggest issue with that is separating your brand equity from the person itself, right? Like you have to create something. It's why Walt Disney created the mouse, right? Like you have to create something that's not tied to your physical being or else sometime, you know, almost every single time when you go to the actual private equity firm or something that's going to purchase

the company, they're going to devalue it because once they lose you, they lose too much. Yeah. I'm going to have to bribe them to stay with them. That's right. That's called golden handcuffs. They just get paid for life, which isn't a bad thing. Golden handcuffs.

What's the typical golden handcuff deal look like? What's the main idea? So the main idea is that I'm going to pay, and I've put golden handcuffs on many people when I purchase the company, right? It's like, because they're too intrinsically valuable to the company, and if I lose that person, I'm going to lose value.

So typically what it looks like is a two to three year deal where I'm going to pay them lots of money to stay in the company, run the company, or I'm going to use their brand, and then all that time period, I'm going to take everything from them, right? Like that three-year time period, I'm gonna take responsibility, their brain,

all the information on it, take it, I'm gonna absorb it, I'm gonna put it into someone else. You said something called EBITDA, can you explain what that means? Yeah, so EBITDA is really just for the average person. It's earnings before interest taxes, appreciation, I missed it, one of the deductions, but basically it's your net. So it's your net operating amount.

And so typically tech companies can get a multiple on their top line, but 95% of all companies that are selling on the market today are getting a multiple on their bottom line, what they're keeping their net revenue. OK, we talked a bit about the money as mesh might be also have a $30,000 Mashmin called Power Room. Yeah, same thing you've had a hundred, 200 members throughout Power Room last year or so. That's more for business owners and CEOs. Walk us through Power Room and why does Power Room exist?

When you already have money as Mashmin, why should people also consider something like Power Room? Yeah, it's a good question. So think about money as Mashmin is basically entrepreneurs that are looking to hyper-focus on money education and knowing how to go move that money and want, like Eddie said, they need the opportunities. When in past that, you have what's power room. Power room is really based off of one of Eddie's companies that he started years ago called Empire.

And Empire is an operating system. So an Empire, which is one of our companies, will go inside of, say, your company, help you organize its structure, create other systems processes, the five phases of businesses, the five different pillars and keys they use. Once that's inside of there, all the people that are inside of, say, Empire are all these CEOs. Well, a lot of times, an entrepreneur and small business is actually gets really lonely.

It's you or it's you and three or four-pillar people, and you're kind of surrounded by people that either work for you or people that don't really necessarily think the same way that you think and operate the same way that you operate. And so what happens is, the power in this place where all these CEO entrepreneurs can come together, network together, hang out with somebody who's like-minded, it's really a very chill mastermind. It's not really about speakers on stage as much as getting the people in their room together because that's really what they want. They want to go to a

place where they sit on a table like this and actually are talking to someone who understands what they're going through, what they're saying, what they're feeling, versus they go home where they go to their, I see they may go to church or something, they talk to that person about their business, that person has no idea what they're talking about. Or something like their bragging. Yeah, they're bragging or something and really really, they're just wanting, sometimes just help. Like, dude, how would you process this? Or what would you do?

And sometimes, to your point, is actually good. We do this exercise where we have people go through and tell what their freaking wins are. Because it's okay, you find a place that people actually are happy for you, excited for you, not judging you, not like this weird, I wish you didn't have that piece. They're like, they're sincerely happy for you inside of you. And so the power room is where driven

off of successful CEO, small businesses, owners that are wanting to get around like-minded people, a lot of them again come through empire. And because they're inside of empire and the operating system, it's kind of a natural pace for them to sit and hang out with each other's power room. We have a crazy story, and that's the one day one of our members, he he called me and he said hey

Would it be okay if I just shared some positive news with you? And I was like yeah sure, he said I just sold an asset for nine million He said nine million is my profit. He said I literally he said I I thought who could I call and celebrate with? He was like I didn't want to call my wife He was like I don't call my dad. He was like, I literally thought the only person in the world I could call are power members. He was like, they're the only people that are going to celebrate with me.

And so he called and he was like, who else would celebrate and not look down at me? You know, it's just, that's the powerful part of power is they're high level operators that are always at the top of their game. And they just need camaraderie. So you mentioned Empire a few different times. What is Empire?

Why is it important? I've heard you say there's thousands and thousands of people that have utilized Empire within their business. Walk us through that. Yeah, so right now we have around 2,800 people or 2,800 businesses that operate on a system. So really, we call it an operating model in that there's a theory on how to run your business.

So Empire is a way of doing it. There's a lot of other operating systems out there. There's EOS and traction, they're scaling up, and then you get into like six sigma and all these type of programs. They really help you operate and optimize the scale and success of your business. For me, as an entrepreneur, what I found was

is they made all of their programs specific to a face. And so, if I'm a startup, then I can use this one. If I'm in scaling, I can use this one. If I'm in manufacturing, I can use this one. And so, you know, guys like us, we're in a lot of diverse types of business. And so I wanted to have a systematic way of running my businesses. So I created Empire in 2015. Really with the thought of there's five phases of business, and there should be a clear pathway to the next phase. So we also have an operating system, the actual software and technology that supports it. But really our primary goal is to get as many businesses,

small businesses around America, to operate efficiently and productively, like and productively, on a system like Empire, so they can get the most out of their business. And that's what it is, and we teach people all over the country to do that. So Andrew, at the Aspirator events especially especially I hear you talk about movement of money or moving money Yeah, why is that important? Why is that such a thing that you always want to talk about?

Well mainly because money is always in movement period in a story and so if you if most entrepreneurs there are trying to Let's say you get money in a positive way. They're trying to earn money create money kind of phase one You'd have to understand that money is always in movement. So whether from the time that you were born, it's currently today, your money, my money, Dan's money, Tarzan's money, Eddie's money, it's sitting here, all this money is in movement, right? And so, benefit, well, a lot of the exercise I'll do

and it inspires, I'll say, what's another word for the word money? Like an older word for the word money. And the older word is the word currency. And it's like, okay, well where did the word currency come from? What word did that come from? And the word is current. Okay, so where did the word money and the older word is the word currency. And it's like, okay, well where do the word currency come from? What word do that come from? And the word is currents.

Okay, so where do the word currents come from? It's like, well, if there's in the ocean and there's water, for there to be a current in that water, that water has to be moving. So the very definition of money is coming from the word currents, which is the movement of an object. And so if you want to have money, you'd have to understand that money is always going to be in movement. Your job, my job, in a very quick simplistic statement would be if you want money, it'd

be learning how to get ahead of the movement of that money. All that really is saying in that nutshell, is basically your job in my job is to create money, structure it in a way that we can keep money, meaning we can, through the legal system that the wealthy people use, use the tax code to our advantage in the rob structure or solo structure, whatever you're going to use. And then once you have that money in a tax free account, now move that money into different

types of private equity deals, apartment deals, whatever you want to put the money inside of, then you talk about the 40-40-20 principle, but it's taking that money and now moving it into those different buckets and then letting that money come back to you. But money is always in movement. It's just a matter of who's moving your money. Either you're moving it or someone else is moving it, but guaranteed your money's in movement. That's what money movement really means.

Aspire tour is now officially the world's largest business tour. Yeah, right thanks to you Yes, every single month. Well, I just saw what you guys were doing. You were already having 2000 2000 2000 2000 people left and right I'm like what if you had a 3000 or 5,000 or 7,000 or 10,000 and what if we did every month set every quarter And so I just took what you guys built and just pouring gasoline on a fire that was already sizzling right now It's every single month. San Diego, Houston, December, Atlanta, December 5th and 6th in Atlanta. Remember 13?

It's Santa Clara, Santa Jose, in January. January 13th and 14th there. This is 2,000, 3,000, 5,000, sometimes 7,000, 10,000 people walk us through the concept of a Spire Tour, how it started, and then where we're going to for next year. Yeah, so a Spire Tour is basically a concept we had from how do we get again as many people in an area that are like-minded. Again all of us being Eddie or entrepreneurs, you're

an entrepreneur, Tarzan is an entrepreneur and it's like how do we get all these entrepreneurs together that think the way, feel the same way, you want to talk about the same stuff, want to learn from somebody who's actually doing it, want to see, if you use words celebrities who have shifted maybe from athletes or influencers and two actually business owners now, and what are they doing and how they're doing it? So, I aspired, started, it's just like, hey, let's just get a bunch of our other like my notch reviewers together, and then we did it and it was like, wow, let's do it again. They really, really like that shit. And we did the first one in Dallas, and it was like, all right like wow, let's do it again. That didn't really, really like that shit. And we did the first one in Dallas and it was like, all right, well, let's do another one.

And it kept kind of growing and scaling and growing and scaling. And really for us, our whole company inside this, outside of the RV in the room right across from here, the San Diego Convention Center, will have probably 70 of our staff members here running around in pink shirts tomorrow. You'll see them running around. And the whole concept is creating a customer's experience. When you can not just host an event, like it's one thing to host an event. It's another thing to create an experience for the attendee that puts them in the almost

like a red carpet-style event for entrepreneurs is what we kind of created for them. And the other thing that I think is really cool is, we're not marketing friends and stuff that market and do ads for us. They always want us to put like, come learn these three things about real estate, or come learn these five things about how to do business. And we've actually stayed away from it. And it causes more money in marketing.

But what happens is we've stayed with the aspire theme. And it's basically come be aspired to do whatever it is you want to do. You know, we don't care if you're coming to aspire to be a better father, a better son, a better mother, a better business person. It doesn't matter to us, but you can become more. You can be better. And so we stay with a theme of aspire to become whatever you want to become, aspire for more in what you're doing.

So that's kind of the aspire model we built and it's been a freaking wild ride. And the tickets are affordable. Yeah. for more in what you're doing. So that's kind of the aspire model we built and it has been a freaking wild ride. The tickets are affordable. Yeah, tickets are 100 bucks, 200 bucks, 400 bucks, 300 bucks, I think that's really, that's one of the things I love the most about it because a lot of conferences are 500 bucks, 1000 bucks, two grand, which is nothing wrong with that.

Obviously we have VIP tickets here too. But in general, I wanna teach the masses. Right. So also why we have elevator nights tonight. Like I want elevator nights is free. So we're gonna 53 times for free. When we get 300 also why we have elevator nights tonight. Like, I want elevator nights is free. We throw it 53 times for free. We get 300 guests, 500 guests for free. So, I just want to keep teaching the masses about money.

And so, that's why I'm so passionate about what you guys have created. And now, what we're building and scaling is the fact that you guys already have all these things, power and mastermind. Money is mastermind. Empire. Aspirator, et cetera. And then, combining forces with Operation Black Sight, Elevator Nights, 100 million masks to mine, cards and coffee, all these things that we're doing

together is to me, the butterfly effect gets really interesting from the sheer math. In 2024, we're going to have 50 to 70,000 people in front of us live. Not counting what we do online, not counting what we teach. That's virtual, not counting what we treat live bodies. Plus, we're all speaking together, collectively we were probably speaking 100 or 200 other events next year That's a big message. Yeah, and so I'm really passionate about that fact Okay, so why is it important for people to be investing their money? We'll start with any yeah, so in the end I heard a stat one time given by Warren Buffen

He said it's if you're a millionaire. It's statistically impossible to come a billionaire He said there's so many forces at play that it's taxation, it's inflation, it's everything. Like everything is working against you. So once you're gonna earn this amount of money, there's this tipping point where if you choose to just hold it, it'll begin to just disintegrate out of your hands, It just begins to disappear.

And so what you have to find is these exponential opportunities to invest in so that as you move it, it's creating more wealth, right? And so I learned a very great principle from my father, when I was 18 years old, he said, I want you to put a number on everything you have of what you need in order to create enough passive income to give yourself freedom. And so at 18, 17, 18, I literally on the inside of my watch bands on my visor, I would write

down a million dollars, right? Got out of college and it changed to three million dollars because I realized I couldn't go very far on a million bucks. But that was that concept. But the thing is, is if you had three million dollars today and it's just sitting in a bank account, it's going to a road that you have to move it like Andrew talks about in order for you your your your opportunity to either gain greater wealth Or to create passive income and that really should be what the focus of a lot of people their money is is how do I Invest it and creating some sort of a passive stream of income back to me

So I don't have to work a job my entire life. If you look at our entire system, the social security system, pension funds, all that stuff, that's all eroding, right? Like, it's highly likely in 30 to 40 years, all of our entire retirement structure in the United States is going to erode to the point where people can't retire. They're just gonna have to work. So we have to create it ourselves.

So I'm gonna go down the rabbit hole real quick guys And it's gonna be hard for most people to listen to but it's very blunt You literally have to get wealthy to survive because you are gonna live longer than appearance And if you have children and you're listening right now your kids are probably gonna live to over a hundred years old And so if they're gonna retire at 65 to 75 years old they need 20 or 40 years worth of money set aside to retire. The average age of people passing away now is 83 years old and 84 and a half for women. So they only really need 10 or 20 years so they could survive if they had like 300 K to 800 K. They could probably get by if they had 50 grand a year to survive on.

What if you survive for 40 years? What if your kid lives to 120? What they can do work when they're 92 years old? And so why are people gonna live longer? Well, nobody here grew up with grocery stores like Whole Foods anywhere. They didn't exist. There was no Airworn. There was no fancy grocery store.

There wasn't a gym on every corner. There was no apps about mental health. There was no supplement companies. You didn't have first form. You didn't have any of these stuff. We had sturpees that were 64 ounces. We put a quarter on the arcade machine. That's what we grew up. And so it didn't exist. There was no gyms. There was no supplement companies. There was no health pills. There was no vegan. None of these things words didn't even exist. We would have looked at you like an alien.

If you said you were vegan back then, or you had mental health issues, like things that are normal for us to talk about now The literally didn't exist back then So why is that matter? You're four year old or you're seven year old or you're 12 year old or 15 year old is growing up hearing about Whole foods health working out going through 75 hard training programs and taking supplements like they're doing those things and Hearing about it as kids. So they're gonna live a long long time That means they have to have a lot of money saved up and this shouldn't sound rude.

You literally have to get wealthy to survive. Because if you wanna have 50 grand, 60 grand, 100 grand a year, saved up, multiply that by 30 or 40. That's two, three, four million dollars. Not counting inflation, not counting medical expenses, just normal life if you wanna have 50 or 60 grand to have a basic lifestyle for a long time so

Why is this important? We are talking about the things you have to invest in you cannot work to get wealthy Care how fancy the job you have you can be a doctor a lawyer in a accountant you make a hundred grand a three-integrity year God bless you You're still not gonna get wealthy you're gonna get rich, which is fantastic Not saying there's a problem with that, but in order to go from rich to wealthy, you have to invest. In order from going from average, making 40 grand to 60 grand a year, which most people

make, you also have to invest. Smaller amounts, you just compound it over the course of time. Now imagine, if we keep spreading this message and get 14 year olds to think about investing. And we get 19 year olds to invest, and we get 24 year olds so that are making 40 grand a year to start investing $1,000 to grant 5 grand. The butterfly effect, and to me, is what's passionate and why you can hear in my voice, why it's so important is that you have to get wealthy to survive for the long term.

And there's nothing rude to say that. It's not about elitism, it's not about being rich to buy stuff. It's about having money to pay for medical expenses and food and shelter, which is really, really critical. We all thought it was like, ah, money is the root of all evil. All the things when I talk about money are about buying my mom this, getting this medical thing, paying for insurance, doing charity work, I don't even know what evil thing is that people would keep referring to because it's some message from 150 years ago because someone did some bad stuff. There's always going to be somebody that does bad things.

That is a tiny, tiny percentage of the bad stuff. The rest of your life is about rent, food, medical, supplies, family, kids, travel, clothes, and all the things that you just have in your normal day life. You need money for it. So please have these discussions. Please consider it. When we're talking about these things, when we're talking about money and investing and power rooms and masterminds, etc. It is important for your entire life and for your children.

Okay, back to our bringing the sculpture program. On the charity side, walk us through Andrew, why is it important for people, for their family or for their business to consider doing philanthropy and charity? Yeah. You know, when it comes to business, I think, three words that used to use all the time, and that is, you have to have connections, you have to have collaborations, and you have to have a cost. And for a long time in my life, I use those three words all the time. I needed connections.

This is like with Dan and Tara Zankay, Eddie, these are connections that we have. And then from there, we have to have collaborations. Collaborations is being Eddie's like, hey, Tara's and Katie of Eddie. These are connections that we have and then from there We have to have collaborations collaborations is being Eddie's like hey, let's go do a click of influence together And then me and you and Eddie can be going say let's go to the next level merge all these companies together It's collaborations of everything right so it's like connections collaborations and then a cost and it causes the thing that is Should be your main focus or your main drive and a long several years ago as I was talking to someone about this And he challenged me and he said what you're doing is great, but he said the only thing I would challenge you to do is Rearrange your wording and he said I think you'd find it better if you said

Cause first so calls connections collaborations and I thought about I did it I flipped that around and and now everything that we do when we do our business is driven off of this cause. How does this business, how does this business impact our foundation? So both of us, say our side and your side as we merge together, you have your foundation, we have our foundation, Eddie's ran the foundation for almost 15 years now, the foundation. And so for now is calls first. So how does this business affect this cause agreement to how does this business put money into feeding other children? How does this business put money into creating new water systems

inside of we do in our business? So when you lead with that, it kind of starts directing your questions of how you run your business because it causes first most entrepreneurs, like you said, and they want to do good. They really, really want to do good, but they never get to that third step of their cause. They get into connections and making money and collaborating and doing deals, and it's always just like thought of like, well, when I have money, I'll do this. When I have money, I'll give it to blank. When I have money, I will donate to the toy drive.

And if you rearrange that and just make yourself do the calls first, like, if I go do this deal, if I go make this investment, what pieces goes back to this calls, what piece this goes to this right here. We have entire companies that the whole purpose of the company is strictly to give money back to the foundations of what we run. So to me, it's those three words, calls, connections, and collaborations. If yours, business owner will focus on those three things and lead with your cause, the other stuff actually becomes a little bit easier because you're leading with your heart. You're not leading with just a spreadsheet, which yes, you have to, you have a performer, but you begin to lead with your heart and it's amazing when you live authentically and

alignment through your heart. It's amazing what attracts to you because it's so rare in the society that we live in, it was something who's just leading with their heart first. So when you do that, you leave with calls, people are attracted to you, which then just compounds and compounds and compounds, what you're actually able to do there. So, Eddie, I mean, I watched you last week,

literally last week, go out into a foreign country and you're building, and I see you, you're not just writing a check and here's 10 grand or 100 grand or whatever, you're showing up in person and bringing your friends, mastermind members, et cetera, to go out there with you in the streets of foreign countries and building Villages and chicken farms and everything between walk us through the charity and why you're so passionate about it

Yeah, I'm very passionate about it You know you get to a place in life in my early 20s You making a I made enough money that I I actually went into this like point of depression where it's like you get to this place Like what is life even worth living like I have have everything I need, I can't buy another, I don't need another car or another house. And I really deep dove in my 20s on trying to find fulfillment in my life. And it's what Andrew was talking about.

It's like in switching my entire life around more to a cause-based and I really framed this word a long time ago where I said, I really am still gonna be a capitalist. I'm still gonna build businesses by businesses great, you know wealth, but I going to do it with a cause. And so I very much believe in this concept of cause capitalism, because if I have the ability to create wealth, I shouldn't use it on myself and just impact me, my family,

I should actually be able to go out and create impact on other people who couldn't impact their own lives. That's why we called our foundation impact others and that was the whole framing of it. And so the problem though is as most people they really don't get to that place. They don't get to the place where they don't they have so much money, they don't know what to do with it, right? Like they just don't get there. And so you have to create a bigger vision for them like Andrew is talking about, point it, give him a bigger North Star. And so you have to create a bigger vision for them like Andrew is talking about, point it, give them a bigger North Star.

And then then our star starts to create more wealth inside of their life. It actually will drive them more, it'll create more. And so I do that for our entrepreneurs, for our mastermind members. I take them to foreign countries where we build businesses in foreign countries last week we're in Guadalajara, Mexico

and we build a sewing center. And out of the 12 girls that we employ at the sewing center, two of them had been rescued from sex trafficking, two were off the streets. One girl had been beaten every day of her life since she was four years old, so she was 15 and she ran away, and we found her by just giving out

food backs on the street. We give them a job, we give them game full employment, we teach them how to work and to earn and we make cultural dresses there. And it's been amazing because we make 21 dresses a day right now with 12 girls, 12 sewing machines. And we have demand for 200 a day right now. And we already make $5,000 a month profit off of that sewing business. The coolest part about it is, is that $5,000 a month gets reinvested in our community.

We feed 350 kids a day. We educate 350 kids a day. We feed 150 families a week. We also, we created a small college there, which is more of a, it's like a vocational school, teach them trades, teach them trades, teach them money, teach them how to learn, and these 17 to 20-year-old kids who don't know how to learn, or how to read and write. We teach them how to read and write, speak English, there's a construction element to it. And so for me, it's like trying to create all of

that opportunity there, and then trying to give them the mindset of, you guys can have a cause too. You can have a purpose that you tie into. My philosophy on life is, number one, you have to control your time. If you can control your time, you can create wealth. Stop focusing on your money, focus on your time. If your time's your most valuable asset, then spend more time managing your time,

then managing your money. Money will come as a byproduct of how you manage your time. Then create wealth. Wealth is having enough that I meet my needs today, and I haven't diminished from what I have tomorrow, right? Then I can take all of that and then push that towards purpose, and that's what we're trying to teach these kids around the world is like, if you could manage your time,

create a skill set that people value, then turn that into wealth, that wealth then should impact somebody greater than just you, because that's where true fulfillment comes from. So Tarzan, you love so many different animals. How on the heck do you decide between helping to save the elephants, the manatees, the lions, the tigers, the bears, oh my, like how do you decide what animals to focus on or do you work with multiple charities? Well, all animals need help. At this point in our time, a humanity, we're just destroying forests, we're eating everything,

we're turning everything into rugs, we're snatching horns and tusk at an alarming rate. And especially the animals that reproduce so slow, the ones that like animal or deer, they ain't gonna go nowhere anytime soon. So I'm not gonna start putting all my eggs in one basket to go save the white tail deer of Georgia. When there's 400,000 of them,

there's 1,000 right no slap, there's 1,000, this left for 1,000 that left, I'm gonna focus on that. But in the meantime, I like to go hang out with dogs in Mexico and give them dewormer or give them a spade, neuter dogs in the cloppagos, so they're not eating marine iguana eggs. Look, Galapagos, tortures eggs, stuff like that.

And those are small projects, but those catch fire out to the big projects. Other companies, other brand deals, want to get involved in cool charitable work. And they'll fund different projects for me to go and do big anti-pochen missions or help giraffe's over there or help the great barrier leave the guy get a new boat or help these guys plant more coral and boar boar so we can have more oxygen down the road for generations to come. Stuff like that. So a lot of things

are due to my heart because I love all type from ants to elephants but there's also certain urgency in a particular animals that need help now. So that's how I could focus on a crickly nature animal, almost extinct animals. Yeah, very cool. Alright guys, we're going to bring Andrew Cordo back for an individual episode. We're going to bring Eddie Wilson back for an individual episode. We're probably going to do multiple episodes with them a year obviously because of my partners and all these things that we're doing and the RV motorhome will be with us in

a lot of cities. But make sure to go follow Andrew Cordo on Instagram and all across all social media, Eddie Wilson. And then some of the companies we talked about today was AspireTour, which is AspireTour.com. There's the Power Room Mastermind. There's the Money is Mastermind. And there's Empire, which can actually help you with inside of your business. Obviously, you guys know we have OperationBlackSite.com for military style training, 100 million masterminds, everything between. We want you guys to pick and choose things that fit for you.

Join local masterminds, create your own local mastermind and meet with your friends, co-workers, people in a niche category. Have these discussions. Well, the things you heard about today are mission critical. You might want to go back and listen to some of these things that we're said today because again, Andrew and Eddie have a wealth of experience and they went down some rabbit holes to teach you some things. So there may be some parts of this episode you might want to go back to and listen to and share with your friends family and followers

Because we want to have these important discussions So we're gonna see you guys next Monday you can visit us the money mondays.com We also have what's called a spire for more a spire for more. It's three hundred bucks a month and There there's weekly coaching we talk about the things that you know Andre and Eddie just went over it with you today in depth every single week. We go live, live zoom calls, you can actually ask questions live. So you can go check out the aspire, aspire for more app. And we will see you guys next Monday on the money Mondays.com.

Ladies and gentlemen, welcome to a very special edition of the Money Mondays. We are in San Diego, California, not in to make it out of the ranch. The RV motorhome is actually parked outside of the Aspire Tour event where we've got over 2,000 people here to see Gary V. Jesse Itzler, Dave Meltzer and all these great speakers. But because of that, we have a lot of great guests that are VIPs, people speaking like the one we have tonight, he's going to be speaking in our event called Elevator Night where we have hundreds of people coming to our event for free and so I'm really excited to have this person here because We're on the money Mondays and he has had over six million families

Download his apps teaching about money for children So that's near and dear to my heart because you know we all grew up Thin he had to talk about money and we disagree we think it's rude to not talk about money because that's a huge reason why a lot of children grow up, a lot of families grow up, and even us as 20, 30, 40, 50 year olds grow up not knowing about FICO scores, salaries, credit, what the heck to do with loans, leases, apartments, and everything between, because we can't talk about money.

Well, the reason we are the number one podcast for 153 days in a row and the entrepreneur category is, because you guys have proven that it's important to talk about money and you guys keep sharing, commenting, subscribing, and you're going to want to do that this time, especially today, for children. So if you know of people that are parents, if you know kids, if you know anyone in the school related systems, they're going to want to listen this episode. Because as I mentioned, our guest, Scott Donald, has had over 6 million downloads and growing

to teach kids about money. So please welcome Scott Donald. Good over six million downloads and growing to teach kids about money. So please welcome Scott Donald. Good to be here. Woo! Can't wait to talk about this issue. Money is a big topic. It's not being talked about at all. I mean, actually, money is the biggest conflict in the home that kids talk about.

So we did huge studies on this. We advise jumpstart and Nephi and all the regulatory groups. Schools aren't teaching it. Banks don't care if you don't have deposits as kids. And you can't homework money, that's the biggest problem. You can't homework money. You can't homework it. So all these schools, how do you expect a teacher making

48, 50 grand a year to teach kids, investing a real estate or taxes or insurance or anything? Right. So that's our issue is, okay, we need to take this thing head on. And when we interviewed our first thousand kids in this, the number one thing they said is we don't want to talk about money because it's the biggest fight in the home. Wow.

Parents say things like, money doesn't grow on trees. You know how much this costs? You know how much I spend on this and you guys just took it for granted? We can't afford that. Kids hear that all the time, they see parents' conflict over it. You know, intimacy issues and money, but they don't hear about the first one.

They hear the money side and so they say, forget it. I'm good. I'm just going to cover hanging out friends and sports and video games, and I'll deal with it when I'm an adult. Is it around 50% of divorces or over money? Yep. One of the biggest fights in the home is over money, and kids hear it. It's all caught. And so what we're seeing is if you can get the right views of money, the right understanding of money, the right money, skills in the house, you turn to something positive and you put these processes in the home, it completely transforms kids' view of money. And so that's what we've been studying for over a decade,

helping millions of families to do this right. So what is the name of the app currently? What's their main focus? So our app is gravy stack. Gravy stack. Stack your gravy. That's the whole point. It has to sound like a game because kids, you know,

if they don't have a motive to use their money, parents cover all the expenses, so kids don't have a motive to make the money. Only 5% of kids have that entrepreneurial DNA, whether like popping out of the womb. Where am I making money, mom and dad? That's me, that's you, that's us. Like, we had to.

We had to. We had to. We didn't have any money, you had to. No choice. My first business was 8 years old, making beat-gick-o-key chains. I hired my whole third grade class, and then all of a sudden, like we had to. We had to. We didn't have any money. No choice. My first business was eight years old. They can beat Gekko Keachanes. I hired my whole third grade class. And then all of a sudden, no one's going to recess and lunch.

And I get suspended from the principal. And I thought I was going to get a whooping mind. I got home. My dad took me to a stake dinner. He's like, do that for the rest of your life. That's awesome. So the point here is, let's get kids thinking through how to cover their own expenses,

to earn, to save, to spend, to share, to invest. So, gravy stack, the app, basically you download it, it's an investing and banking app, a real debit card, real bank accounts, a save, spend, and share account where they see the flow of money. And then in a whole system of games, 100 games they play with real life challenges, with subscription hunts, cancel it, they're getting coupons for Mom and Dad's grocery run and getting half the cut. These guys are flipping assets at garage sales.

We just had a kid text us nine year old, making a thousand bucks a month, flipping motorcycles from garage sales. No way. In level two of the game. They're playing the next family trip on a budget. You know how many parents say, I wish my spouse did these games?

Like they're just really practical simple ways for kids to learn all the money skills. And so we, I'm the leading expert in financial literacy. Here's the way that kids learn. By having fun and through real life experience. That's the only way they learn. When you combine those, it's this like powerful tornado. And if it's fun, it's intrinsically motivating.

Any game, you see kids like they just go at it, right? And intrinsic motivation is the way it works And then when you add a practical real life experience now they're getting the skills now They're getting the critical thinking the practical skills to succeed so the app for gravy stack It just does all those in one fun and real life experience for kids to learn actual money skills because again You can't homework it. You say you get an actual debit card. Yeah, it's a real bank It's a little 13 year old just got a debit card and he can hear she can make money on this.

Yeah, ages six and up. They get their debit card. And one of the biggest things we found is kids if they make 10, 15, 20 bucks, they think they can just spend that. And so in the app, the family chooses what percentage goes to saving and investing, 20, 30%. What percentage goes to share for giving and generosity

hook up to every nonprofit in the country, and then the spend jar with their debit card where they cover their needs first and then wants. And so you see, we literally, we got 30 patents on this app. You watch the money flow through the revenue streams because we're also teaching revenue streams. You watch it turn into coins, flow through the app, and auto split into those accounts.

So we just had it, you know, I just got a text from a friend, Shea Parton, he just goes, hey, my nine-year-old, for the first time, he's like, dad, I need to make $28 this week so that I can net $16 for going out with my buddy, like, to them all. $9 or 10, it was like a nine or 10-year-old. That is a huge win if you think about financial literacy for kids across the country.

So you have to do this with real money or else it's not going to matter. It's like saying if you play monopoly one time, you're ready for real estate for the rest of your life. You got to have real money to make it work. So how long you've been working on this? How much has been raised? What are the things you can tell us about behind the scenes of this thing? Yeah, so we've really been building it for over a decade. Whoa. So the um, the ad-

It's like a life mission. Oh, yeah. 50 million kids financially competent is our goal here. This is because this is massive change that we have to have because you guys know all the stats. Yeah. Gen alpha, Gen Z, all the issues. It's the least invested generation in history. Two thirds of Gen Z right now thinks that we're in late stage capitalism. They think it's going to end. They don't think there's going to be a retirement or 401k. 41% thinks we're never going to, capitalism. They think it's gonna end. They don't think there's gonna be a retirement or 401k.

41% thinks they're never gonna go to home. It's going the other way. And you gotta look back and say, okay, what are the first principles here? How do we changes from the ground up? And we think we've nailed it. So first company we started was called APEX, became the largest school fundraising company in the country.

That's their fitness company we were talking about earlier. It became a franchise system. It's a top 100 franchise. About 600 employees, we taught kids generosity in schools and character traits and leadership traits. Immediately I started to realize they're not learning money. They're not learning critical thinking in school.

So we started doing business fairs. So when we started Children's Business Fair.com, now there's hundreds of thousands of kids a year doing business fairs in their local community. You set up 10s as entrepreneurs. All the kids come and sell their products. Soap, slime, all these fun things. We had a seven-year-old girl last year.

She made $400 sitting on a stool and charging people $3 for advice. Just brilliant move. We had a girl, we had a girl get a deal with Damon John. On Shark Tank. Yeah, Michaela from Austin. She's 12 years old. Sweetie lemonade.

She got a deal with Damon John. She went on Shark Tank and he got her into every whole foods with her lemonade brand. Like this is if you can teach kids at this young age to create value. That's the number one thing that we teach. Create value first. Solve problems. Find wants and needs around you. Can you have that lens to look at the world?

How can I create material value, emotional value, spiritual value all around me? That's the ticket to getting kids to change their mindset. Because then it's like shooting fish in a barrel for the rest of their life. Like money is a store of value, right? So parents just try to think, oh, I got to give them an allowance. Allowance is socialism. That's a terrible idea.

But three-fourths of Americans give their kids an allowance. Like, you do not need, if I give you free money, you're not going to learn how to make and manage money. You're not going to learn to earn. But three-fourths of parents in the US literally just give their kids 10 bucks a week. And now I'm doing it. I'm doing what I need to do as a parent to give my kids financial literacy. Like, give me a break. Your kids do not need to learn how to spend your money.

If you give your kid ten bucks at church to put in the plate, that doesn't teach him generosity. Here's what you should do. You should have your kid earn the money and then buy the birthday present for their friends party. Every parent listening knows what I'm talking about. We all buy the present, wrap the presents, get the card, the kid chucks it on the table. That's not a generous kid for life. The kid earns the money, then you help him get the present, wrap it, and they bring it in, guess what they're gonna do.

I've seen this over and over now. Kids will run up to the kid, the party. Open this right now. I wanna see your face. That's a generous kid for life. So this is the stuff that we're trying to transform in families, like having the money conversations around the dinner table. We literally bought dinner table.com for that very reason. This stuff starts around the table, not at the homework in schools in the

desk, not on the sports teams. We outsource parenting all the time and we have to take this into the home because this is where kids learn. What do you mean outsource parenting all the time. And we have to take this into the home because this is where kids learn. What do you mean outsource parenting? Explain that. Outsourcing parenting is, we think that schools will teach our kids all the things they need to learn. We think that church will help them with their faith. We think that the sports team will teach them

like the hard work ethic and the overcoming and all the skills. When we outsource all those things, we don't realize that they're not getting all the things we want them to get. So that like one of the number one things we train is like stop outsourcing your parenting. I'm not saying like move to the Boondocks in homeschool.

I'm saying like you need to think through what are the things that my kids have to learn to be successful, the skills, the traits, the values of the family, how do we pass these on and make sure that you're putting your kids in situations to learn them. That's the whole point So what could people do that are listening to this for the kids that are around them or their nieces nephews

The children that are in their world. What could they do to actually want them to start utilizing this app or just having this conversation? Yeah, yeah, so the app is the easiest tool to start It's like seven bucks a month and the average kids save in their families like $600 in the first month by doing the subscription canceling and the coupons and the playing the trips and earning started starting to earn in and out of the house But I'll give this advice. This is the best thing we have in the app We have the answer to allowance because when we say allowance is a terrible idea, because here's what happens. You allowances either like codependency, socialism,

right? You're just giving your kids money and thinking you did your job. Or parents are like, well, my kids do chores for allowance. Well, you shouldn't be paying your kids for half those chores. You should never pay a kid to make their bed and clean their room, do their homework, dishes and trash. Those are like your role in the family. And then the other things, they should be paid individually

for so you can see the value that they're creating. That's right. They should be paid individually, not just one off allowance every week. Three, four, so parents still get that allowance, even if the kids don't do it. And they have conflict in all these issues. And the biggest problem is when parents say,

I don't do allowance, my kids are the good kids that do all their chores like they're told. Well, now your kids aren't learning anything about money. They're not learning to make or manage money, so they're learning nothing about financial responsibility. So what we created was the home economy system. This is the winning ticket. This is what all the best families we've ever studied did.

The home economy system is three ease. Expectations, expenses, and extra pay. Say one more time. Expectations, expenses, and extra pay. Say one more time. Expectations, expenses, and extra pay. If you get these three ease right with your kids, it's like rock it fuel for their development. And we automated the whole thing in the app. So number one, you set the expectations, the things you don't pay for. Okay. These are the things that they do around the house as their role in the family, like the make bed, clean room, help with the pet, you know, homework, all those things.

And the second one is where a lot of parents go wrong. They don't give their kids expenses to start to cover because a kid doesn't have a motive to earn unless they have something to cover, right? So there's 12 categories that we've identified that parents starting at age six should give their kids. So by the time they get their driver's license, they're like fully autonomous on covering expenses.

Starts with toys, trinkets, in-app stuff, sporting equipment, like, hey, we'll get you the re-box, but if you want them air Jordans, those are on you. Now the kids have that motive. Social outings with friends, social trips, birthday presents for friends. I just saw a parent give their kid a cavity. Like, if you get a cavity, the cost is on you.

Brilliant, that kid, they said in the last two weeks, their kids have been flossing twice a day, brushing three times a day. Wow. And then the third E is extra pay. This is the home run. So we have got like 55 gigs. Don't say chores anymore,

because that's linked to like bad things in the home and things feels like homework. Say gigs. So we have these gigs around the house that repeat daily, weekly, or monthly for the family where the kids can make a few extra bucks, sweep the garage, wash the window, make a meal, clean a bathroom, yard work, pack for the family trip. But then we also added brain gigs because kids need to learn to make money with their brain. This is one thing everybody misses.

Our brain is our business, guys. Kids need to learn that. And so we have brain gigs that kids can get make a few extra bucks by a podcast, listening to a podcast and giving a report to mom and dad. Here's how I'm gonna apply it. Oh, I got a great podcast for them now. This is the perfect one.

Seriously, it's like particles. Ted talks, books, Prager used, don't eat sugar for a month. All these fun brain gig challenges that are right there that auto-repeat that go right on the fridge every week we email the families. I need to get Jim Quick on this. He can have some quick brain quick challenges.

Jim's an investor. Jim's a part of gravy stack. Yeah, we're gonna have a whole level in the game on brain stuff, yeah. So this is why it's so critical when you do this, okay, hear me here. If you start passing these expenses to your kids, and it's an easy conversation, it's like,

hey guys, you want more responsibility, and you wanna be able to make two, three times as much money every week? Here's, here you go. Kids all take it and they run with it. When you do this, you save hundreds of dollars a month in expenses, because now the kids are making money that you're paying them to cover those things,

so you're not even, right? And then with these gigs, this is how you teach budgeting. This is how you teach planning ahead and goal setting, delayed gratification. This is how you teach the price of goods to your kids and trade-offs between decisions. This one move nails it all. So that's why gravy stack is popping right now

just because all these parents are like, I got 10 gigs, they're set up. My kids are making like 70 bucks a week, they're covering expenses that we were paying for and they're learning all these skills. But the problem is people have always used whiteboards and like sticker and points and ticket systems to do it. And it's a nightmare. So with us it's just automated. Auto repeating and so it's just as easy as like the printout for the fridge every week. Why don't you think more people do things like this with their children?

Well the main thing with us is people don't know. Gravy Stack is just getting to market just in the last three months. So we haven't even begun scale. We've got like a thousand affiliates ready to launch. But I think the biggest problem is that parents don't know what to do. Just because you have a kid doesn't make you qualified to parent them. You got to figure it out. So I think a lot of parents just, they don't know themselves how to do it.

We see this issue with first gen wealth parents. So we've seen this. We have all the data on millions and millions of families. When you do well as like a first generation, you're making, you're covering your expenses, your profiting, your growing, your're thriving a lot of first gen entrepreneurs are in this boat. Then they have kids and they, the first thing they think is out of love. They go, I just want my kids to have all the stuff I never had. I want to have them have all the opportunities I never had. I don't want to have them to

deal with all the nightmares I had to deal with coming up. Well, what made you you? Like, what made you you? The struggles. The struggles. Like our book, our bestseller book is called value creation kid, the healthy struggles your children need to succeed. You don't pass on trauma, you don't pass on tough love, neglect, and abuse, that you just get rid of that stuff. But you should be putting your kids in healthy struggles to succeed, emotional skills, relational skills relational skills practical skills business skills Financial skills these things help kids thrive and when they go through healthy struggles Then they learn capabilities when they overcome and those capabilities give them deep confidence

a lot of teenage especially teenage girls struggle with the confidence issue. It's a lot of anxiety, self-doubt, and mental health. And when you go through healthy struggles with capabilities, you gain this deep inner confidence. It's not like, hey, my gear awesome, I'm proud of you, you're cool, you're nice. A lot of parents think that that's what builds confidence in kids. No, it's from the kids overcoming and building capabilities

that last for a lifetime. Now these kids, our gravy stack kids, they don't even care about the future, they're pumped. can't wait. Like they're like I'm it's just amazing. I know how to create value today right now. I don't have to worry about a job in the future. I can do anything I want. And that's the goal. If we can get millions and millions of kids and families thinking that way create value first and then there's going to enter the world like rock stars. That's the point. The literal reason of who I am is because of the things that happened as a child. From four years old to eight years old, I was on the SWAT meet like a little Gary Vee

selling baseball cards. On my parents sold Levi's jeans out of the back of a van. Every single weekend at the SWAT meet. Eight years old, I started selling in candy out of my backpack. 13 years old, the reason I met my business partner is I was selling cereal boxes out of my backpack. My mom was my investor, she gave me $4.00 and by a case of cereal boxes I would sell them for $8-12. The reason it was $8-12 is sometimes I'd use freebies with the girls or with some guys that would buy a lot. I would give them a freebie that can hook like a drug dealer and they would buy a bunch more cereal boxes. Yeah. And 15, 16 years old. That's what I'm at my business partner. 17 years old.

We trademarked the catchphrase. 18 years old, we do our first million dollars in sales. 19 years old, $9.5 million in sales. I'd saved up $43,000 in high school as part of my entire story is from 15 years old to 17 years old. I worked three jobs at Ruby's diner. We're in a sailor's cab. Qualcomm Stadium, which is four minutes

from here where we're sitting right now. Pina, it's Cracker Jacks here. That's all I had to be number one every single night. And for a stockbroker getting paid cash on the table. That 43 grand I stayed over those three years was to go to college, and instead I started my company. Wow. The reason I can say that story so fast

is I've said it hundreds of times, because my identity and the reason I am who I am is from those moments. Yeah. If I had some rich parents that just said, here Dan, here's 100 grand, go start the company. My identity and the reason I am who I am is from those moments. Yeah. If I had some rich parents that just said, Here Dan, here's a hundred grand go start the company. Pfft.

Yep. I wouldn't exist. The company wouldn't have ever happened. Yeah. Because I would have burned the money on fire and it would have been over. And I would have had no hustle to me, no struggle, no passion, no fear. The reason I still do so much work now is because of that fear of not having money as a kid. Yeah. And so I think it's super important.

And I would say I'm guessing Tarzan now has 200 million views on social media every freaking month. And the reason he cares so much about animals is the things he went through as a kid, dealing with and experience the animal life being around his family, dealing with his brothers, going out there and finding snakes like the stories from your childhood that make you who you are, is that correct? Yep, 100%. Yeah, let me say it real quick because that's a powerful story and I want more kids to be

going through this because you went through a value creation struggle. That's what you went through. More kids need to understand that in an earlier age. Like people don't know this but 90% of generational wealth transfer is gone by the grandkids. It's just gone. Like evaporates. It's just gone, it evaporates. It's just like it on fire. Yeah, and what happens is you have, first of all, you have lottery ticket syndrome.

Then you have imposter syndrome. They feel like they're in mom and dad's shadow. Then you have guilt and fear and shame with it. And it kills their value creation drive. Like in a way, you were given a gift. Like it's an unbelievable gift. I had the same thing. I come from four generations of mega wealth

that didn't pass on a penny. Mega wealth. Like, my grandpa was Ron Reagan's bank chair. They built Interwest Bank, sold it for $1.2 billion. Put the whole thing for widows and orphans. Wow, that's awesome. Because he said, I don't want you guys to not be able to grow and create value in the world.

I'm gonna teach you to fish. In fact, our family values are faith, family, and fish. My three year old can say it every night at dinner. Fish stands for fun and adventure, integrity, service, and hard work. That's heritage. Our family's tight and unbelievable, and I couldn't be more thankful for that mindset.

So I think anyone listening here, like if your whole goal is literally to just like grow up, increase your net worth, make a bunch of money, and then die with it to pass it on. You're doing a disservice to the next generation because underneath that 90% is divorce, a strangement of kids, addiction, violence, mental health issues. You are doing a disservice to the future generations. And so for us, what we teach is, this is what we teach in our workshops and our programs

is, it's more about what you leave in your kids than to them. That's heritage. So we actually preach heritage over inheritance. Use inheritance to grow the family to like, hey, get an awesome summer cap, get a zoo, do awesome things together, get coaching, get help, like really grow together like the heritage, invest in the heritage rather than just saying my whole goal is a parent is to die with X amount of assets and net worth because you're doing a disservice to future generations. And you saw it in your life, I've had it in my life, I couldn't be more thankful for that.

So tell us about the charity side, why is it important for children and for families and parents to think about and consider and actually be involved in charity? Man, here are the seven money skills that we teach. Earn, save, spend, share, invest, protect, online security, how to protect them from predators and bad things and data and borrow. The number one winner of all seven of those, share. Really? And we say share because with kids, they don't think of giving to a kid who's hungry 10,000 miles away first.

They think of sharing a toy. There's stages to all seven of those money skills that we teach us four stages of each, that you help kids move through. But the share is the biggest winner by far. Families that help their kids become generous and charitable and caring of other people. Those kids are abundance thinkers, not scarcity. Those kids are open hand with the world, not close fist. Those kids are, they think tomorrow will be better than today.

The pie can get bigger. Does that make sense? That's the point of generosity. So when we teach like sharing, you're telling a kid, hey, there's enough to go around. There's enough value to create in the world that's ever expanding. Because that's what the economy is. That's how we teach kids what the economy is. It's solving wants and needs and problems for everyone around you. And it just increases the pie. It is, it's a form of generosity in itself. And so that is such a powerful idea for kids. And when they think that way, their future is just, it's so abundant. And generosity is that core piece.

So tell us about the dinner table thing. I want to talk about that. I thought of that concept. At the dinner table, what is that process? It sounds like you've got all these different things of how you say and explain it. And you've got these analogies. What are some key things people could do at the dinner table with their family and with their children? Yeah, so dinnertable.com. We literally bought that for this very reason. We're helping do courses and workshops for family legacy and foundation workshops.

The dinner table is where all this stuff starts. So what we advise families is you need to make money not an evil thing in the home. The love of money, when it's all you think about and your entire calendar and everything you want, you know, it's an idol. But money's not good or bad. Money is a tool. It's an incredible tool that can help you in a lot of different ways. So when you're with your kids, what we like, that we have 200 questions in gravy stack that we send parents to ask their kids at the dinner table about all those money skills. Every time you give as a family, you should invite your kids along with you and what you're giving in.

Here's why mommy and daddy are doing this. Here's why mom's doing this. Here's why dad's doing this. What would you guys want to give to on top of this? What do you guys think about this? Every time you invest, you should be teaching your kids what the investment was. That's such a missed opportunity. Parents have money managers and all these, I have 30 different investments myself.

My seven-year-old knows my investments. Wow. We walk through the return, we walk through why it's helping other people grow and create value. And what that means financially is a reward to us. You should be talking to your kids about these things. You know, what we've seen is with young kids, about eight and under. If you don't tell your kids how you create value or what you do for work, then when you leave every day,

they're thinking that you're going to do something that's more important than them. I'll say that again, because it's a critical piece. It when kids think that mom and dad are going off to do something that's more important than they are, they, that builds resentment. It breaks relationships. There's a lot of families who have traveling spouses

in the family or mom dad travels a lot. Kids start to feel resentful. But what I do every time I leave, I did it today. Hey, day's going on a one day trip with his friend Dan. We're gonna go teach people about money skills. We're gonna go help add value to a ton of other families. And I'm back tomorrow. And I get to put you guys to bed.

We're gonna do these two things together and I'm gonna tell you guys all about it. I can't wait to hang out with you when I get back. Now my kids know exactly what day is doing. They're praying for me while I'm here. They're cheering me on. We're gonna FaceTime later tonight. Like that's the way to do it.

Rather than just like, hey, I gotta go again. I gotta work. Your kids need to see you work. But they also need to know like why you're doing what you're doing. That's critical. All right, I mean, I can talk to you for hours about this. We're gonna what you're doing. That's critical. All right. I mean, I can talk to you for hours about this.

We're going to have you come back. So good. So good. So important because as you guys know, the whole concept of the money Mondays is to have discussions with your friends, family and followers. We say it every single time as the beginning and at the close because it is mission critical. We have to have these discussions for so many reasons.

And so I'm glad you guys are listening to this today. Obviously, we're going gonna have Scott back here, but go out there, go to the gravy stack, check them out on iTunes, Android, whatever type of phone app you have, find gravy stack, but not just for your family. Make sure you're telling your friends, co-workers, and everyone about this app

because it's so critical, and the butterfly effect that happens with more and more children and more and more families, talk about money is priceless So make sure to download money Monday's tell your friends about it check out gravy stack follow Scott done on the Their whole world as they build this app to have millions of users and we'll see you guys next Monday you