Loading...

Yeah, that's good advice and it doesn't really matter where it came from. You know, you're giving me advice and it's just within your experience. I don't, unless it's relevant, say why I say this. I'm saying this because it's within my experience. And here it is, you know, it doesn't matter what the circumstances were, how you learned it. The fact is you learned it. If you want to share it with somebody, you don't necessarily have to go reinforce it. Unless, you know, you're questioned, well why would you think that? You can cite that as an example. To put it into perspective, you know, starting out even with a trip account of 401k, it can be kind of discouraging. Looking at it, it's long term and it will, provided that you take the, subscribe to the plant. When it has a chance to really take hold, then that's when it looks like it was worth it. The reason why a lot of people think, you know, you can make all this money and I don't want to crush anybody's expectations here, but if you want to make a million dollars in the stock market, you better start with two million. And that's what I was taught. And to do better than that you have to take greater risks and you don't want to take a risk. You might have a loss that would be too hard to recover from. The stock market isn't there to make you money. It's a dangerous place. If anything, they're out to take your money and not give you anything in return. That's why it's good to have a professional. And it's what banks do every day. I mean, I would say, if I could go back and tell my younger self, or give myself some advice, I would go back and tell myself to not ever deal with banks and have a brokerage account. Because there are some brokerages that you can find. I'm not going to tell you what they are. I'm not here to recommend anything to anybody. You can have a checking account, a credit card, a savings account, and access to all kinds of different. lucrative ways to grow your money. And even in the savings account, the interest rates at the time that banks are giving is always higher. I mean, decently higher. We would see a big difference from when you had your money in a banking savings account, and you put it in a brokerage that you could trade out of. And you could still write checks and pay your bills and everything else. So I wanted to let whoever's listening out there know about that. If you're listening to AA4HL run Miramar, Florida, anybody who wishes to contribute, this isn't a private conversation, they're welcome to join. Over to you, Jan. This is repeater station kilo kilo seven, November Quebec November. Yes, sir. I think that's fantastic. But if you want to make a million dollars, the market would have two million. You know, a lot of the game here is, it's mildly is capitalism, right? And in a capitalism game, you have to have capital. And once you have that capital, you move differently than when you don't have the capital. My thing is that there's a linear thinking in what you're saying. I don't know anything about that drip account, but when you're young, you have to educate yourself on this game of acquiring capital and have a plan. But you have to risk when you're young. And you have to risk, you know, and then you risk less as you get older. That seems to me the way to do it. And if you start from nothing, your risks have to be much greater when you're young, you know. And so having a go-to-asleep account, you know, drip, I don't know the drip account, but just putting money blindly into mutual funds, and a lot of people do it, is that they're asleep, you know. And if you're asleep, you're going to get slaughtered. The idea is you have to be awake, and you have to start learning how to invest when you're a kid. And then as you're moving to your ladder, your risk level has to be high when you're young, and then maybe less as you get on with your life, you know. I mean, I tell my daughter, she's going to be a doctor, she did this medicine thing, which I prefer that she was in business, to be honest with you. But, you know, so, and my son's going to go, you know, he'll be in the Navy, and hopefully, it's what they want to do, you know. And hopefully my son will, you know, just do the Navy part for, you know, four years college at the Academy, if he gets in, and maybe he'll be another seven years, because he wants to be a pilot. So, so whatever, in 12 years, he'll be in business, right? But, but when I told my daughter, I said, look, whatever you're going to do, just understand that you have to have in your mind, seven years out of your residency program, or your residency, you know, that you want to retire in year seven. You know, and retiring doesn't mean complete retirement, but you have to think that money has to be made for you by you not doing the procedures. You know, you have to find some sort of a business model that you won't have to physically be doing things like surgeries or whatever the hell you want to do. And so, so in seven years, and, and now I don't know where I got that number from, I guess my own personal experience, but if I'm alive, you know, we'll work on that one, you know. But there's a discipline in this stuff, and the game is about capital, right Ron? I mean, you have capital, you live off your capital, but these kids have to learn how to build that capital, you know, and, but the problem is too, you know, you know, it depends what you do in your life, but I'll tell you something, if I were an earlier version of myself, I'd become a plumber. That's what I would do. And that's it. Yeah, sorry Ron, I think I just over, overly talked again, but you know, if I had to do my life all over again, I'd become a plumber Ron.