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hey guys I'm Lane vids figured I'd come live here and talk to you guys for a little bit about money and investing as y'all know uh well first of all this channel is usually about Family Travel Family Travel we've done some Dave Ramsey stuff on here if y'all remember a while back we were Big Dave Ramsey fans we did the Dave Ramsey Total Money Makeover we did our debt-free scream live on his radio show which was super exciting about two years ago and this past uh Friday uh October 21st that was Christa and I's two-year anniversary of being debt-free which is super exciting uh we' definitely have slowed down which everyone says that you do uh once you become debt-free because you you know you ease a little bit more back into how life was before you were riceing beans all the time but I want to talk to you guys about some books that I've been reading uh one is called the snowball Warren Buffett and The Business of life I actually just started I've had this book for probably three years and I just really started reading it I got uh to page I don't know like 180 177 yesterday I read a whole almost 200 pages I could not put this book down but basically it's uh autobiography of Warren's life and uh and how he became the man that he is now how he thought about assets and and stuff like that and getting into assets I do want to uh I want just to talk to you guys a little bit more about what I know about money and H how to accumulate wealth via investing so that you can have a comfortable life and why Rich PE the the the doing the things that rich people do to achieve that and um there's a guy named Robert k Sak I found him back in 1996 or 97 whenever it was first on the Oprah show my mom said oh Lane you you should watch this and so I watched it and I was intri intrigued very intrigued always been interested in money and investing and all that type of stuff so I got his book Rich Dad Poor Dad readit cover to cover very fast read good read um by the way I put this book down in the description below if you guys want to check it out I'm thinking I might like talk to you guys about the books that I'm reading about money uh on this channel may you know coming live for I don't know 10 minutes or so but uh I Robert kosaki and he taught me about financial literacy and that is understanding The Words that financially literate people use and there's four words that you mainly need to know income expense asset and liability and income is money coming in like you know through a job or or uh through another one which is the asset word that I said that's another way to get income coming in the other one is expense that's your money leaving you where does it go you know paying your mortgage paying your utilities uh paying for internet whatever you know you have there uh assets are things that you can buy or build that put money into your pocket so it becomes you buy something or create something and it becomes an asset so like a stock that pays a dividend the stock is the asset and you have the dividend which is the thing that puts money into your pocket be part of your income then you have liabilities and that's what you owe so uh you know your mortgage on your house is a liability you know you have say $100,000 mortgage and you have to pay that every month which is comes to the expense so your liability is uh is the mortgage but it can also in turn help you if you think about it in in that way you know we are don't want to go back into debt after paying off so much with uh the Dave Rams to M makeover but you know one way you can look at it and some what some people have done is to buy a house and uh you know with a mortgage and then you rent it out and then the the house becomes an asset and it pays you every month but you still have to pay the liability on it through an expense there so uh just a different way of looking at money there but but um the reason why I started reading the snowball is because um I started uh I watched a video on YouTube an interview with this guy Tony Robbins and he has this book called money the game the master the game and I got interested in this book because a friend of my actually my one of my best friends recommended it to me and he said that this is the book that his dad would like recommend highly approves of however you want to say it and his dad is he's owns his company and he's very very wealthy man so I kind of took that as okay if that if a wealthy person is saying that they should read this book and they're uh they're telling their kids to read that book then there must be something in this so I got this from the library the other day but actually uh the night that I listened to that interview I got on Amazon and I ordered this book immediately because I knew that I was going to want to highlight and write stuff in it and go more in depth with it than I could in three weeks so uh I started reading that again that book is down listed down below I linked It Up Down Below as well if you guys want to read this one with me as well I literally just started it I made it through the introduction and the forward and then the first few pages here but um uh very very good Insight I started watching a few more videos with Tony Robbins and he's very like you know this positive motivator help you uh in The Game of Life type of type of person but um I'm very interested in this book because he interviews something like 50 of the most wealthiest uh people uh on the planet right now and he he uh helps you to gain insight into how they think and he puts together a few programs that even though you're not wealthy you still could be able to take advantage of some of these things so I'm very interested to read that and I'm kind of curious to see how these two coincide together because uh you know buff just basically a buyer of companies and then this guy you know he talks about investing in how to master the the money Master the game of money so uh in fact I read this morning all the way in the back of the book he has a few interviews with some of those wealthy people and one of them was Warren Buffett so I jumped the gun and I read that one and uh Warren talks about index funds so I started learning a little bit more about index funds so I'm very curious to see where uh where the books take me because I'm ready I think I'm ready to get into more uh more investing and just to have more knowledge about investing another uh thing that I looked into a while back was options tradings I still I understand it but I don't think I'm at a skill level right now to be able to do that so um like I said with this book I read basically I read through the whole first section it's divided up into five sections and then you know the sections are divided into chapters and I read through the whole first section which was up until he got married and all of his his childhood things that he did and I I think I might do a video about my entrepreneurial spirit because it was kind of interesting reading that and I'm like oh yeah I kind of did something like that because uh Warren in his book he went around and bought a pinball machine and he went to local barber shops and he he asked him if he could set up a pinball machine into in the shop and that was one way that he made money and that's a way to where you that's the pinball machine was the asset and then the income that it generated was from the coins that people would put into play whenever I was in college I had vending machines like snack vending machines that I that I ran and I mean they they did really well I must say um my dad gave me some money to to buy this this couple was selling their vending machines they didn't want to run them anymore and so uh I bought a bunch of vending machines I think there was four or five of them and uh placed them at different locations and I had to you know refill them and go get the money out of them great great opportunity great uh skill great uh experience that I had uh really getting more into to my entrepreneurial side and um I just I was kind of okay I like looked at what Warren did and then I looked at what I did and I was like how what did he do that was better and with his because it was a pinball machine the only thing that could have really happened is that the pinball machine would have broken and he would have had to go and fix it in my situation every so often I had to go and refill those snack machines and refill those snack machines and that was kind of the not fun part about that because you had to go and get the inventory and then you had to go back to the place and you had to go and fill it out and you emptied out your money and all that and then you had to you know do that again that be that almost became your job unless you had somebody else running it for you and so what Warren had here was he had something where it didn't have to be refilled or repur you know it didn't have to have that as much maintenance unless somebody broke it somehow um and I found that very interesting so he in his book he says that he is not interested in doing manual labor he does not like manual labor he likes to buy something an asset he likes to own it and he likes for that thing to work for him and so I want to learn more about how to do that and uh through reading these books that's what I'm looking to do so if you guys want to read along with me I think I want to start a series on this channel about money and investing and and I'm gonna kind of go use these books as the tool to be able to to let you follow along my progress with it kind of how I did with our Total Money Makeover whenever um whenever we did this book so uh that's all I'm gonna say right now guys I'm gonna go if you guys want to follow this journey make sure to click that subscribe button thumbs up is always appreciated you have someone interested in investing in money please share this video with them as always we appreciate it when you share it out on Facebook Twitter and all that good stuff um so we'll see you guys in the next video we also do family travel stuff here and other fun videos with our family so if if you're interested in that definitely check out some of our other videos uh thank you guys for watching as always thanks for being shity Shank
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