Welcome to "Issues and Answers."
00:00:27.62\00:00:29.89
Say have you ever felt
like you you'd like figure out
00:00:29.92\00:00:33.60
how to be
better off financially?
00:00:33.66\00:00:38.17
I know I've asked
that question myself.
00:00:38.20\00:00:40.80
You know, some people seem
00:00:40.87\00:00:42.20
to do all the
right things, you know.
00:00:42.24\00:00:44.04
They know how to be
able to pass things on
00:00:44.07\00:00:46.47
and manage
their finances so well
00:00:46.51\00:00:50.28
and you look around
it, it's not necessarily
00:00:50.31\00:00:51.91
about income.
00:00:51.95\00:00:53.28
Well today we're gonna
talk about wisdom and wealth.
00:00:53.35\00:00:57.12
Our guests are
Reginald and Ebony Clark.
00:00:57.15\00:00:59.89
They're both graduates at
the University of Memphis.
00:00:59.92\00:01:02.69
Reginald is a
certified financial planner.
00:01:02.72\00:01:05.59
He's the first
elder in his church
00:01:05.63\00:01:07.30
and a recognized leader
00:01:07.30\00:01:08.63
of America's financial planners.
00:01:08.66\00:01:10.87
Ebony is a tax
accountant and an auditor.
00:01:10.93\00:01:14.04
Together they run
P3 Financial Group.
00:01:14.10\00:01:16.67
And in between that,
00:01:16.71\00:01:18.04
they care for their
three precious children.
00:01:18.07\00:01:20.04
Reginald and
Ebony conduct seminars
00:01:20.08\00:01:22.48
and trainings to
churches and the public
00:01:22.51\00:01:24.38
on how to care
for their finances
00:01:24.41\00:01:26.55
and be good stewards.
00:01:26.58\00:01:28.75
Thank you so much for
coming, welcome to the program.
00:01:28.78\00:01:31.72
Thank you. So
glad you can make it.
00:01:31.75\00:01:33.92
Well, I want you to know,
00:01:33.96\00:01:35.29
I have compiled
a list of questions
00:01:35.32\00:01:38.19
that enquiry minds want to know.
00:01:38.23\00:01:41.16
And one of those
is, what is wealth?
00:01:41.20\00:01:44.33
You have the
accountant's version of wealth
00:01:44.37\00:01:47.74
and you have the
financial planner's
00:01:47.77\00:01:49.10
version of wealth.
00:01:49.14\00:01:50.47
Okay, in the accountant
00:01:50.54\00:01:51.87
and what a best of both worlds.
00:01:51.91\00:01:54.11
There we go.
00:01:54.14\00:01:55.48
So I'm gonna give
you my definition.
00:01:55.51\00:01:56.88
It is your assets
which is everything you own
00:01:56.91\00:01:59.75
minus your liabilities
which is everything you owe
00:01:59.78\00:02:03.12
and what you have
left is your net worth
00:02:03.15\00:02:05.22
and another word
for net worth is wealth.
00:02:05.25\00:02:08.06
Oh, so it
doesn't necessarily mean
00:02:08.09\00:02:11.06
that you are
multiple millionaire,
00:02:11.09\00:02:13.16
multi millionaire, billionaire.
00:02:13.19\00:02:15.30
It just means that you've got
00:02:15.33\00:02:16.67
something left over, is
that what you're saying?
00:02:16.73\00:02:18.37
You own more than you owe.
00:02:18.40\00:02:20.20
Okay, all right.
Financial planner?
00:02:20.24\00:02:22.30
Yes, and I don't disagree
with that definition at all.
00:02:22.34\00:02:24.47
But I would add to that.
00:02:24.51\00:02:25.94
Wealth is also a measurement
of time and not money.
00:02:25.97\00:02:28.94
Here is what I
mean when I say that,
00:02:28.98\00:02:30.81
wealth can be measured in time.
00:02:30.85\00:02:32.18
Wealth is about how
long can you step away
00:02:32.21\00:02:34.68
from your job or business
00:02:34.72\00:02:36.35
and still maintain
your current life style
00:02:36.38\00:02:37.99
without an interruption.
00:02:38.02\00:02:39.35
For instance,
let's take, for instance,
00:02:39.39\00:02:40.72
if you have a $5000 saved up
00:02:40.76\00:02:43.59
and your monthly
expenses are thousand,
00:02:43.63\00:02:46.06
well, I would consider
you to be five months wealthy.
00:02:46.09\00:02:48.36
That's how long you can
maintain your lifestyle.
00:02:48.40\00:02:50.43
So it's not always
the measure of money,
00:02:50.50\00:02:52.27
wealth is also a
measurement of time.
00:02:52.30\00:02:54.20
Okay, another question.
00:02:54.24\00:02:55.87
What does wisdom
have to do with wealth?
00:02:55.90\00:02:59.14
Wisdom has every
thing to do with wealth.
00:02:59.17\00:03:02.48
According to the
scriptures, the scripture says,
00:03:02.51\00:03:04.51
"Fear of Lord is the
beginning of the wisdom."
00:03:04.55\00:03:05.98
But if you add to that
text, go to Deuteronomy 8:18,
00:03:06.01\00:03:09.95
it says, "You shall
remember the LORD thy God,
00:03:09.98\00:03:12.32
for it is He that gives
you the ability to get wealth."
00:03:12.35\00:03:15.16
The one thing I want
to bring out there is,
00:03:15.19\00:03:17.23
one thing I love
that it takes, it says,
00:03:17.26\00:03:19.86
He gives us the
ability to get wealth.
00:03:19.89\00:03:22.33
Two things there,
one, wealth can't be evil
00:03:22.36\00:03:25.13
or inherently wrong
when He want to give us,
00:03:25.17\00:03:26.74
He want to
encourage us to do it.
00:03:26.80\00:03:28.47
Two, He says He gives
us the ability to do it,
00:03:28.50\00:03:31.11
meaning, we have a part to play.
00:03:31.14\00:03:33.94
You know, He be
blessed the children of Israel,
00:03:33.98\00:03:35.81
all with manna from heaven.
00:03:35.84\00:03:37.61
And but even they
had to go gather it.
00:03:37.65\00:03:39.58
So I have a part to
play in my well being.
00:03:39.61\00:03:42.22
I can't just sit at home
00:03:42.25\00:03:43.65
and expect God to just
stuff in a mail box for me.
00:03:43.69\00:03:46.52
And all I'm doing
there is just sitting.
00:03:46.55\00:03:47.89
It doesn't work like that.
00:03:47.92\00:03:49.26
Well, okay, let's see
what else people want to know.
00:03:49.29\00:03:52.46
So glad you guys
are here, you know.
00:03:52.49\00:03:54.36
Sometimes, you meet the--
both people financial planner
00:03:54.40\00:03:57.33
and accountant in the same
room and you both Christians.
00:03:57.40\00:03:59.63
Good I could ask my questions.
00:03:59.67\00:04:01.17
Okay, so in a
very practical way,
00:04:01.20\00:04:04.61
how does one build wealth?
00:04:04.64\00:04:07.11
People want to know that.
00:04:07.18\00:04:08.58
They're really only three ways.
00:04:08.61\00:04:11.15
There you need to
direct your cash flow,
00:04:11.18\00:04:14.65
increase liabilities.
00:04:14.68\00:04:16.12
Okay, hold on a
second. What does that mean?
00:04:16.15\00:04:17.79
We're gonna get to it. Okay.
00:04:17.82\00:04:20.16
Direct your cash flow,
increase your liabilities--
00:04:20.19\00:04:23.66
increase your assets and then
use your liabilities wisely.
00:04:23.73\00:04:27.66
Absolutely, so you asked
so how do we direct cash flow?
00:04:27.66\00:04:30.03
What does that mean?
00:04:30.07\00:04:31.40
Well, think about
this... Like direct...
00:04:31.43\00:04:33.07
Yeah, think about this.
00:04:33.10\00:04:35.64
Cash, and let
me add to that too.
00:04:35.67\00:04:38.17
The most important
word you'll ever learn
00:04:38.21\00:04:39.54
in all the financial
planning is cash flow, okay.
00:04:39.57\00:04:42.44
Cash, you have to
tell your cash what to do.
00:04:42.48\00:04:45.18
Cash flows like water.
00:04:45.21\00:04:46.55
Water takes the
path of least resistance.
00:04:46.58\00:04:48.62
If you don't tell
your cash where to go,
00:04:48.65\00:04:50.25
it's gonna find a
place to go on his own.
00:04:50.29\00:04:52.09
And when we say
direct cash flow,
00:04:52.12\00:04:53.62
there's a couple of stoppers
you put up along the way
00:04:53.66\00:04:56.26
that where you tell
your cash flow where to go.
00:04:56.29\00:04:57.99
For instance, as soon
as you get your income,
00:04:58.03\00:05:01.13
there's one of
the first stoppers
00:05:01.16\00:05:02.50
should be in place.
00:05:02.53\00:05:03.87
Return the tithe in offer.
00:05:03.90\00:05:05.23
Yes. That's your first stopper.
00:05:05.27\00:05:06.84
Your second is
going to be your savings.
00:05:06.87\00:05:08.27
And half the time this is
00:05:08.30\00:05:09.64
where you pay
yourself first, okay.
00:05:09.67\00:05:11.04
And we heard that term
before, pay yourself first.
00:05:11.07\00:05:13.98
And for some people,
it's a really tough concept
00:05:14.01\00:05:16.21
to get around but
it's very important
00:05:16.24\00:05:19.08
that you do that
because by doing that,
00:05:19.11\00:05:21.12
you're telling
yourself how important you are
00:05:21.15\00:05:23.22
as well as you giving your cash
to another great place to stop.
00:05:23.25\00:05:26.15
And one thing I want
to say about savings,
00:05:26.19\00:05:28.06
you need to do in
terms of percentages.
00:05:28.09\00:05:30.13
Often times we focus in,
I'm gonna save $50 a month
00:05:30.16\00:05:33.26
or $100 a month.
00:05:33.29\00:05:34.73
We have to learn
to think about money
00:05:34.73\00:05:36.10
in terms of percentages.
a tithe is a percentage.
00:05:36.13\00:05:38.57
If you go to buy a
home, debt to income ratio
00:05:38.60\00:05:40.34
is a percentage.
00:05:40.40\00:05:41.74
So you need to
purpose in your mind,
00:05:41.77\00:05:43.10
you're gonna save a
percentage of your income,
00:05:43.14\00:05:45.17
not necessarily a
whole dollar amount.
00:05:45.21\00:05:47.24
So after you
return to as an offering,
00:05:47.28\00:05:49.54
after you've
committed to saving,
00:05:49.58\00:05:51.51
the next couple of stoppers
along the way is going to be
00:05:51.55\00:05:53.38
your living
expenses and your bills.
00:05:53.42\00:05:55.48
Can I go back real
quick to the savings?
00:05:55.52\00:05:56.95
Absolutely.
00:05:56.99\00:05:58.32
What do you guys
recommend as percentage to save?
00:05:58.35\00:06:02.02
You know, sometimes people,
you know, what do you suggest?
00:06:02.06\00:06:05.69
It's-- a good
percentage just start off with
00:06:05.73\00:06:09.56
would be 10 percent.
00:06:09.60\00:06:10.97
But you have to look
at your overall finances
00:06:11.00\00:06:13.03
because doing something
is better than doing nothing.
00:06:13.07\00:06:15.50
It's about creating a habit.
00:06:15.54\00:06:17.14
So if you can only
start with one percent,
00:06:17.21\00:06:19.94
you are still
creating that habit
00:06:19.97\00:06:21.64
where you're putting
the money aside for yourself
00:06:21.68\00:06:23.85
and eventually
you'll be able go increase
00:06:23.88\00:06:25.68
and then increase it.
00:06:25.71\00:06:27.05
So more importantly
than the actual percentage
00:06:27.12\00:06:29.52
is deciding what
you can comfortably do
00:06:29.55\00:06:32.69
and creating a
habit of getting it done.
00:06:32.72\00:06:35.09
Absolutely, and I'd
like to add to that.
00:06:35.12\00:06:37.63
That's great, you definitely
get into a habit of doing it
00:06:37.66\00:06:40.40
and you eventually
want to build up too.
00:06:40.43\00:06:42.43
If you can get to what I
call the holy grail of saving,
00:06:42.46\00:06:45.00
as well as on to taking you
about 50 percent of your income
00:06:45.03\00:06:48.14
to sustain your lifestyle.
00:06:48.17\00:06:50.07
Fifty percent of your income?
00:06:50.11\00:06:52.01
Well, I mean, how many
people could do that though?
00:06:52.04\00:06:54.04
I mean, your
regular working person
00:06:54.08\00:06:55.84
can get to 50 percent?
00:06:55.88\00:06:57.31
You can get there, I mean,
it's about directing cash flow,
00:06:57.35\00:07:00.25
controlling, exercising modesty,
00:07:00.28\00:07:03.65
exercising restrain.
00:07:03.72\00:07:06.25
But you can
definitely get there.
00:07:06.29\00:07:08.12
Because if you
are-- think about it,
00:07:08.16\00:07:09.49
if you are only using
50 percent of your income
00:07:09.52\00:07:10.86
to sustain life, to
sustain your lifestyle,
00:07:10.89\00:07:13.19
what do you with
the other 50 percent.
00:07:13.23\00:07:14.56
There's a lot
you could be doing.
00:07:14.56\00:07:15.90
Invest in, helping
people who are haven't.
00:07:15.93\00:07:17.57
But you know, the most commonly
people are told like well,
00:07:17.60\00:07:21.87
if they want to buy a car,
00:07:21.90\00:07:23.41
that would maybe 30
percent of their income
00:07:23.44\00:07:26.41
or if they want to buy a house
00:07:26.44\00:07:28.58
where you debt to income
ratio needs to 40 or 50 percent.
00:07:28.61\00:07:33.15
So it's very different
than what you're suggesting.
00:07:33.18\00:07:35.72
You're saying to
really live below your means.
00:07:35.75\00:07:40.16
Is that what you
are saying? Absolutely.
00:07:40.19\00:07:41.52
Hard to say.
00:07:41.56\00:07:43.76
It's hard to say,
it's even harder to do.
00:07:43.83\00:07:46.70
Like I said,
that's what I call it the,
00:07:46.73\00:07:48.43
you know, the UV
raft, if you can do that.
00:07:48.46\00:07:51.53
But it's very possible.
00:07:51.57\00:07:52.90
It just takes planning
and it takes discipline
00:07:52.93\00:07:57.07
and it takes Godly restrain.
00:07:57.11\00:08:01.98
The way it works together.
00:08:02.01\00:08:03.38
Well, it talks
about not coveting,
00:08:03.41\00:08:04.75
you know, not worried
about what someone else has.
00:08:04.78\00:08:08.02
You got to focus on what--
you got to stay in your line,
00:08:08.05\00:08:09.95
focus on what you got
going on and you can get there.
00:08:09.98\00:08:13.02
You can get there.
00:08:13.05\00:08:14.39
Now another key
is not increasing--
00:08:14.42\00:08:16.76
most people get
some type merit increase
00:08:16.79\00:08:18.63
on their job every year...
00:08:18.66\00:08:20.03
Exactly. Right.
00:08:20.06\00:08:21.36
When you get that
increase, that doesn't mean
00:08:21.40\00:08:22.73
that your expenses
are supposed to increase
00:08:22.76\00:08:24.50
to eat all of that up.
00:08:24.53\00:08:26.23
If you got a three, four
or five or ten percent raise,
00:08:26.27\00:08:29.47
but you continue to
live at the same level
00:08:29.50\00:08:32.47
that you've been living,
00:08:32.51\00:08:33.88
then that
difference can be saved.
00:08:33.91\00:08:36.01
And then
another thing that we do
00:08:36.04\00:08:37.38
about every six months,
00:08:37.45\00:08:38.78
we pull up all
of our bank accounts
00:08:38.81\00:08:40.15
and just go through and analyze
and see if there's anything
00:08:40.18\00:08:43.32
that I call a leakage.
00:08:43.39\00:08:44.72
And that maybe 999 service
here that you signed up for,
00:08:44.75\00:08:49.69
699 there or you may sign
up for some type of auto club
00:08:49.72\00:08:54.30
and it's 1499 a month
and all of those things
00:08:54.30\00:08:57.13
individually aren't
alike but when you add it up,
00:08:57.17\00:08:59.77
you may have a 100,
200 dollars of services
00:08:59.80\00:09:03.44
coming out of your
account every month
00:09:03.47\00:09:04.91
that you don't even use.
00:09:04.94\00:09:06.57
So you stop up that
leakage and that's the money
00:09:06.61\00:09:09.34
that you can
spend on other things.
00:09:09.38\00:09:11.31
And as well a lot
of people who work,
00:09:11.35\00:09:13.18
they eat out five days a week.
00:09:13.21\00:09:15.75
If you start taking your
lunch just three days weeks,
00:09:15.78\00:09:18.02
say you spend $10,
00:09:18.05\00:09:19.39
you're saving
$30 dollars a week.
00:09:19.42\00:09:21.22
If you compile that
over the whole year,
00:09:21.26\00:09:23.16
that's almost
$1600 that you've saved
00:09:23.19\00:09:25.73
by just taking your lunch.
00:09:25.76\00:09:27.96
Three days a
week. That's it. Wow.
00:09:27.96\00:09:29.93
So there are small
changes that can make you have
00:09:29.96\00:09:33.00
more cash flow at
the end of the month.
00:09:33.03\00:09:35.50
Wow. Absolutely.
00:09:35.54\00:09:37.41
So let's see.
Here's another one.
00:09:37.44\00:09:40.68
How-- let's see here.
00:09:40.71\00:09:42.48
What sounds another key
00:09:42.51\00:09:44.31
to building wealth, liabilities?
00:09:44.35\00:09:46.41
What's that?
00:09:46.45\00:09:48.05
Using liabilities wisely.
00:09:48.08\00:09:50.79
Your liabilitie are
anything that you owe.
00:09:50.82\00:09:54.32
So it's very
important to get control
00:09:54.36\00:09:56.42
over what you owe.
00:09:56.46\00:09:58.49
So can a person build
wealth through liabilities
00:09:58.53\00:10:01.90
and so you're saying it
needs to be controlled better.
00:10:01.93\00:10:04.37
You can build a wealth
but the use of liabilities.
00:10:04.40\00:10:07.44
But I'm gonna tell you
when we talk about liabilities,
00:10:07.50\00:10:09.50
we're talking about debt.
00:10:09.54\00:10:11.01
Let's talk about how important
it is to use it properly.
00:10:11.04\00:10:15.34
Just as medicine can be
good but if you're taking it,
00:10:15.38\00:10:19.61
you know, outside the
doctor's prescription,
00:10:19.65\00:10:21.12
it can be very harmful.
00:10:21.15\00:10:22.52
Debt is the same way.
00:10:22.55\00:10:23.89
So for the average person,
00:10:23.95\00:10:25.29
I would recommend just
staying away from it, period.
00:10:25.32\00:10:27.42
Unless you got some
one that assist to you
00:10:27.46\00:10:29.42
in a proper way to use it,
for wealth building techniques,
00:10:29.46\00:10:32.76
then you really don't
want to go down that road.
00:10:32.79\00:10:35.06
But when we talk
about getting out of debt,
00:10:35.10\00:10:37.93
let's talk about getting
out of debt for a second.
00:10:37.97\00:10:40.87
We teach people to collect
all their debt, all right.
00:10:40.90\00:10:43.77
Get out the
credit card statement
00:10:43.84\00:10:45.17
and let's take a
peak at what is that
00:10:45.21\00:10:46.81
you actually spend in,
00:10:46.84\00:10:48.18
that you're
swiping this card for.
00:10:48.21\00:10:49.91
Are you swiping
this card for things
00:10:49.98\00:10:51.31
that have no value at all?
00:10:51.35\00:10:52.68
For instance,
if I know I'm going
00:10:52.71\00:10:54.78
to take a vacation in summer,
00:10:54.82\00:10:57.12
I can just swipe
it or I can save up
00:10:57.15\00:10:59.39
and just pay for the vacation.
00:10:59.42\00:11:00.99
Just think about this.
00:11:01.02\00:11:02.36
If I swipe that card
to pay for my vacation,
00:11:02.39\00:11:04.49
when I come back,
what do I have a value
00:11:04.53\00:11:06.19
concerning that vacation?
00:11:06.23\00:11:07.66
You're not gonna
buy my pictures from me.
00:11:07.66\00:11:09.16
Right.
00:11:09.20\00:11:10.53
So although I had a great time,
00:11:10.57\00:11:12.77
it's not an asset.
00:11:12.80\00:11:14.14
I can't do, I can't make
anything out of this so...
00:11:14.20\00:11:16.34
That's what we call red debt.
It needs to stop immediately.
00:11:16.37\00:11:21.38
Then we go on yellow debt
00:11:21.41\00:11:22.74
where we'd be
using credit to debt
00:11:22.78\00:11:24.45
for the purchase of
something that is an asset
00:11:24.48\00:11:26.48
but that doesn't
generate you income,
00:11:26.51\00:11:28.35
okay, such as
the home you live in.
00:11:28.38\00:11:30.45
That's an asset but it's
not making you any money.
00:11:30.49\00:11:33.15
The car you drive,
it's a depreciating asset.
00:11:33.19\00:11:35.76
So these are
examples of using debt
00:11:35.79\00:11:38.53
but you want to be
careful when you do it.
00:11:38.56\00:11:40.26
And again, green debt would be
is what I talked about earlier.
00:11:40.30\00:11:44.10
That using credit to debt
00:11:44.13\00:11:45.53
'cause you can
actually purchase things
00:11:45.57\00:11:46.90
like as stocks with debt.
00:11:46.97\00:11:48.77
It's called a margin
account or you can purchase
00:11:48.80\00:11:50.74
a rental property with debt.
00:11:50.77\00:11:52.71
But in those situations
again, you want to be careful
00:11:52.74\00:11:54.81
'cause you want
the cost of the debt
00:11:54.84\00:11:56.88
to be less than the
income that is generating.
00:11:56.91\00:11:59.45
You want to make
more money from the income
00:11:59.48\00:12:01.42
than what the debt is costing.
00:12:01.45\00:12:02.82
So now every time you
look at your bank account,
00:12:02.85\00:12:05.79
and all of the
things that you own and owe,
00:12:05.82\00:12:08.82
think about the stop
light and color code your debt.
00:12:08.86\00:12:11.09
We actually
advise people to do it.
00:12:11.13\00:12:12.96
Look at the
finances. Take out a marker?
00:12:12.99\00:12:14.46
Write down every
thing. I got three markers.
00:12:14.50\00:12:15.83
I got three
markers and mark them red,
00:12:15.86\00:12:17.67
yellow or green
00:12:17.70\00:12:19.03
and that way you
know anything red,
00:12:19.07\00:12:20.90
you need to stop immediately.
00:12:20.94\00:12:22.40
Stop immediately because
it is, what is that again?
00:12:22.44\00:12:25.14
Bad debt. Bad debt.
00:12:25.17\00:12:27.08
And it's a non
asset purchase of...
00:12:27.14\00:12:30.61
Non asset, in other
words, you can't sell it
00:12:30.65\00:12:32.58
or it doesn't have
something you can hold or--
00:12:32.61\00:12:34.62
is that what you mean?
00:12:34.65\00:12:35.98
Exactly. Like a...
What if I like computers?
00:12:36.02\00:12:38.95
What kind of debt
would that be if a person...
00:12:38.99\00:12:41.19
That would be, I
would like to say yellow.
00:12:41.22\00:12:44.09
It is something that has value.
00:12:44.13\00:12:46.80
But... What
about a student loan?
00:12:46.86\00:12:49.83
Student loan will be well,
00:12:49.86\00:12:51.30
there's a whole
can of worms there.
00:12:51.33\00:12:52.67
Student loan...
00:12:52.70\00:12:54.07
Lot of people, that's
how they get to college
00:12:54.10\00:12:55.67
a lot of times.
00:12:55.70\00:12:57.04
Let's talk about
that. Let's talk about that.
00:12:57.07\00:12:58.41
Student loan
could be green debt.
00:12:58.44\00:13:01.41
But I'm so glad
that you brought that up.
00:13:01.44\00:13:03.28
Here's the issue
with student loans
00:13:03.35\00:13:06.28
or here's the issue
with college overall.
00:13:06.31\00:13:10.02
So many people today--
00:13:10.09\00:13:11.42
because student loans
are so easy to get today.
00:13:11.45\00:13:13.36
So many people are
getting student loans.
00:13:13.39\00:13:16.32
But they are pursuing degrees
that don't have the potential
00:13:16.36\00:13:20.40
to pay them for
the cost of the degree.
00:13:20.43\00:13:23.83
What I mean by that is,
you should never borrow more
00:13:23.87\00:13:27.24
in for your total
degree, than what you can expect
00:13:27.30\00:13:30.11
to earn your
first year doing what?
00:13:30.17\00:13:31.81
In one year. Yes.
00:13:31.84\00:13:33.34
That's wise. That's very wise.
00:13:33.38\00:13:34.74
Absolutely,
because the student loan,
00:13:34.78\00:13:36.44
if you-- there's a
site you can go to.
00:13:36.48\00:13:38.48
I can't call at top of my head,
00:13:38.51\00:13:40.12
but there's a meter that show on
00:13:40.18\00:13:41.68
where we are as a
country as far as matter
00:13:41.72\00:13:43.85
of student loan
debt is out there.
00:13:43.89\00:13:45.49
And what I want to
be clear... Really.
00:13:45.52\00:13:47.06
Yes there is.
00:13:47.12\00:13:48.46
And I want to be
sure if people understand
00:13:48.49\00:13:49.82
student loan debt by
law can never be bankrupted.
00:13:49.86\00:13:53.60
It's the only
debt you can give it up
00:13:53.66\00:13:55.03
through bankruptcy process.
00:13:55.06\00:13:56.53
So you either gonna pay it
off or you're gonna die with it.
00:13:56.60\00:13:59.17
So be carefully
with student loan debt.
00:13:59.20\00:14:01.37
Then a lot of people,
they go back to school
00:14:01.40\00:14:04.04
because they don't
know what they want to do.
00:14:04.11\00:14:06.44
Well, if you don't
know what you need to do,
00:14:06.47\00:14:07.84
you can-- or want to do,
00:14:07.88\00:14:09.24
you can take
time to figure it out
00:14:09.28\00:14:10.85
but you
shouldn't incur more debt
00:14:10.88\00:14:12.21
while you're doing this.
00:14:12.25\00:14:13.58
So I know so many people
00:14:13.62\00:14:14.95
that have gone back
to get Masters degrees
00:14:14.98\00:14:16.55
because they weren't sure
00:14:16.58\00:14:18.19
how they wanted to use
their undergraduate degree.
00:14:18.22\00:14:20.86
But you are about to incur
00:14:20.89\00:14:22.22
another 60, 70, 80, possibly
a 100 thousand dollars of debt
00:14:22.26\00:14:26.43
just to figure out
what you want to do.
00:14:26.46\00:14:29.00
And if their Master
degree has a potential to earn--
00:14:29.03\00:14:31.33
instead of again, like she said,
00:14:31.37\00:14:32.80
the Master degree is
going to cost you $40,000
00:14:32.83\00:14:36.91
but only has a potential
to increase your earning power
00:14:36.97\00:14:39.14
by another two or
three thousand dollars,
00:14:39.17\00:14:41.44
is that a good return
that in your investment?
00:14:41.48\00:14:43.18
No. Not really. Absolutely Not.
00:14:43.21\00:14:44.88
So we really need
to educate our kids
00:14:44.91\00:14:46.98
and our daughters as well,
00:14:47.02\00:14:48.88
think before
you just go planting
00:14:48.92\00:14:51.52
into student loan debt.
00:14:51.55\00:14:53.52
So just think if
the school the says,
00:14:53.56\00:14:55.06
hey you got $10,000 that
you can have for the semester,
00:14:55.09\00:14:57.89
doesn't mean to
go get that $10, 000.
00:14:57.93\00:15:00.96
You're saying that you
need to really be able to see
00:15:01.00\00:15:04.17
maybe go online or look and see
what the income is going to be
00:15:04.20\00:15:07.47
for that particular career path.
00:15:07.54\00:15:10.11
And if you need-- loans
are there if you need them
00:15:10.14\00:15:13.17
but only get what you need.
00:15:13.21\00:15:17.45
I laughed because I've
learnt it the hard way.
00:15:17.48\00:15:19.61
We both did.
00:15:19.65\00:15:21.75
Then of course,
there are some ways
00:15:21.78\00:15:23.12
that people are able to,
00:15:23.15\00:15:25.15
you know, find a way to get out
of their student loan debt say,
00:15:25.19\00:15:28.76
by volunteering
in the arm forces.
00:15:28.79\00:15:31.83
I would say volunteer
but serving in the arm forces
00:15:31.86\00:15:35.26
or serving in public entities
00:15:35.30\00:15:38.47
when you're gonna get
your debt forgiveness.
00:15:38.50\00:15:40.30
Absolutely.
00:15:40.34\00:15:41.67
And then we work, make ten years
00:15:41.70\00:15:43.04
worth of on time payment
say you work for non profit,
00:15:43.07\00:15:45.61
your loans are forgiven.
00:15:45.64\00:15:47.94
So you're saying it's a plan.
00:15:47.98\00:15:49.31
Come with the
plan if that's what...
00:15:49.34\00:15:50.71
Come up with the plan. Exactly.
00:15:50.75\00:15:53.88
So what are some other
ways to be wise about wealth?
00:15:53.92\00:15:58.32
Now you defined wealth now,
00:15:58.35\00:16:00.09
I guess we could all
be wealthy in that regard.
00:16:00.12\00:16:02.92
You are saying that
if we have a way to pay
00:16:02.96\00:16:06.63
for our living expenses
00:16:06.66\00:16:09.06
beyond the immediate
month, we're wealthy?
00:16:09.10\00:16:11.47
Absolutely.
00:16:11.50\00:16:12.83
Is that what
you're saying, really?
00:16:12.87\00:16:14.24
Absolutely, and
let's think about this
00:16:14.27\00:16:15.60
on the same thing.
00:16:15.64\00:16:17.44
Remember in my
first definition I talked
00:16:17.51\00:16:19.01
about time being
able to walk away?
00:16:19.04\00:16:20.51
Tell me about that.
00:16:20.58\00:16:21.91
You may have given that
in a seminar some place.
00:16:21.94\00:16:23.28
Tell us here about that.
00:16:23.31\00:16:25.61
Let's say-- let's talk about
how the wealthy people do it.
00:16:25.65\00:16:29.65
How they think?
00:16:29.68\00:16:31.02
If I want to purchase a car,
00:16:31.05\00:16:33.46
okay,
traditionally what we would do
00:16:33.49\00:16:37.13
is go and borrow the money
and go out and buy the car.
00:16:37.16\00:16:39.76
But a person is thinking along
the lines of a wealthy mindset,
00:16:39.79\00:16:42.46
they would say I need an asset
to pay for their liability.
00:16:42.50\00:16:46.17
For instance, students loans.
00:16:46.20\00:16:49.40
I want to pay back the
student loans, I could,
00:16:49.44\00:16:52.31
you know, I've seen
people having student loans
00:16:52.34\00:16:54.04
in excess some $100, 000.
00:16:54.08\00:16:55.41
That's no longer abnormal.
00:16:55.44\00:16:58.21
I could work really hard
to pay this $100, 000 off
00:16:58.25\00:17:01.18
or maybe I could go
purchase a rental property.
00:17:01.22\00:17:03.45
Get the rent from that,
pay for the student loan.
00:17:03.52\00:17:06.49
So now I'm letting my
assets pay for my liabilities.
00:17:06.52\00:17:09.79
And when my
liabilities are paid for,
00:17:09.82\00:17:11.16
I still have my asset
that still generate an income.
00:17:11.19\00:17:13.19
Which-- that's the bonus.
00:17:13.23\00:17:14.73
That's the
bonus. It's like the...
00:17:14.73\00:17:17.07
It's like the
bonus. Tell us about that.
00:17:17.10\00:17:18.43
That's the bonus,
the fact that once
00:17:18.47\00:17:19.80
the liability is paid off,
00:17:19.83\00:17:21.17
once the student
loan is paid off,
00:17:21.20\00:17:22.54
you still have the goose.
00:17:22.57\00:17:23.91
You still have what the
goose is producing the eggs.
00:17:23.94\00:17:26.34
The golden egg. Yeah. Okay.
00:17:26.37\00:17:28.41
Though you are not using
the goose or using the eggs
00:17:28.44\00:17:31.25
and once it's paid off,
that goose is gonna continue
00:17:31.28\00:17:33.95
to produce eggs and that
money can go somewhere else.
00:17:34.02\00:17:37.49
So you know, have
you ever seen people
00:17:37.52\00:17:39.35
that become so obsessed
00:17:39.39\00:17:40.96
with becoming wealthy that they,
00:17:40.99\00:17:44.36
you know, they are
doing everything they can to,
00:17:44.39\00:17:46.90
you know, chase the money down?
00:17:46.93\00:17:48.23
Are you suggesting that
for everything that we have,
00:17:48.26\00:17:51.03
we should be looking
for some kind of way,
00:17:51.07\00:17:53.07
I mean, tell us about that.
What do you think about that?
00:17:53.10\00:17:55.30
You know there's a
lot of things out there.
00:17:55.34\00:17:56.87
Well, yeah.
00:17:56.91\00:18:00.44
But we talked
early that the title
00:18:00.51\00:18:01.84
of this topic is
wisdom and wealth.
00:18:01.88\00:18:03.78
And what we want to be
sure, we're doing as Christians,
00:18:03.81\00:18:05.95
we want accompany
Godly-- we want a Godly wealth
00:18:05.98\00:18:09.08
because it comes
with Godly wisdom, okay.
00:18:09.12\00:18:11.52
We don't ever
wanted seek to build wealth
00:18:11.55\00:18:13.39
outside the will of God.
00:18:13.42\00:18:15.12
Wisdom being,
that's gonna lead you
00:18:15.16\00:18:16.66
to a multitude of
problems, multitude.
00:18:16.69\00:18:18.63
You're gonna get
rich yourself involving
00:18:18.66\00:18:20.03
get-rich-quick
schemes or business that's,
00:18:20.06\00:18:22.93
you know, less than hour.
00:18:22.96\00:18:25.27
So we don't want to get,
00:18:25.30\00:18:26.84
we don't want to find
yourself chasing that rabbit.
00:18:26.87\00:18:29.20
There's a scripture that talks
00:18:29.24\00:18:30.71
about the blessings of
the Lord over taking us.
00:18:30.74\00:18:33.41
I heard the term a lot,
people say I'm paper chasing,
00:18:33.48\00:18:36.14
I'm chasing the money.
00:18:36.18\00:18:37.55
Well, I tried to live my life
00:18:37.58\00:18:39.75
and cause people
lead a life as such,
00:18:39.78\00:18:41.15
well, I don't
have to chase money.
00:18:41.18\00:18:43.02
God's blessings chases me
00:18:43.05\00:18:44.39
if you live in
according to His will.
00:18:44.42\00:18:47.06
Yeah, that's
excellent. That's excellent.
00:18:47.09\00:18:49.52
So now how could
a person be prudent
00:18:49.56\00:18:52.26
and responsible
and understanding,
00:18:52.29\00:18:54.96
being within the will of
God, make certain decisions.
00:18:55.00\00:18:57.23
What's that way,
you guys mentioned
00:18:57.27\00:18:58.87
about rental property
or having a asset perhaps,
00:18:58.90\00:19:04.24
they could pay for some.
00:19:04.27\00:19:06.14
How would one go
about that if that,
00:19:06.17\00:19:07.94
you know, they're
not coming from a family
00:19:07.98\00:19:10.08
where people are
really good at that?
00:19:10.11\00:19:12.48
Seek advice.
00:19:12.51\00:19:15.62
Just like if my
car needs service.
00:19:15.65\00:19:18.49
I don't know how to fix the car.
00:19:18.52\00:19:20.02
So I go to someone that
knows how to fix the car
00:19:20.09\00:19:22.89
and the I can be pretty sure
that they are going to fix it
00:19:22.92\00:19:26.63
and I can be on my way.
00:19:26.66\00:19:28.03
And there is
nothing wrong with realizing
00:19:28.06\00:19:30.57
where you don't know
everything about a topic
00:19:30.60\00:19:33.44
and going to someone who can.
00:19:33.47\00:19:35.04
And I think
that's being prudent.
00:19:35.07\00:19:37.54
It's seeking
advice from professionals
00:19:37.61\00:19:41.01
that can help you
reach your financial goals.
00:19:41.04\00:19:44.71
And though, I
mean, even if it's--
00:19:44.75\00:19:47.05
if you don't have a professional
00:19:47.12\00:19:48.52
or you don't know
someone directly to talk to,
00:19:48.55\00:19:52.22
then maybe you can
use other recourses,
00:19:52.25\00:19:54.99
online or sometimes you
can just talk to someone
00:19:55.02\00:19:58.93
who has done it before.
00:19:58.96\00:20:01.30
And they can be a start.
00:20:01.33\00:20:02.66
So get the information
and getting the information
00:20:02.70\00:20:07.50
that's being prudent.
00:20:07.54\00:20:09.57
And then you should
be able to be successful.
00:20:09.60\00:20:12.84
And can I add something? Yeah.
00:20:12.87\00:20:14.24
Today, there's a
ton of information
00:20:14.28\00:20:17.11
that doesn't cost you
a dime on the internet.
00:20:17.15\00:20:19.61
Most of the books on
personal finance are there,
00:20:19.65\00:20:22.32
you can just
download them today.
00:20:22.35\00:20:23.69
So it's really not whereas back,
00:20:23.75\00:20:26.39
you know years before
there was a close guarded secret
00:20:26.42\00:20:30.03
on a lot of stuff
00:20:30.09\00:20:31.43
lot of wealth
building techniques
00:20:31.46\00:20:32.79
or just good
information in general.
00:20:32.83\00:20:35.20
But a lot of the things,
00:20:35.23\00:20:36.80
yeah, you could just
download a lot of this stuff.
00:20:36.83\00:20:38.43
So, you know, just Google in,
00:20:38.47\00:20:42.40
you know, different
headings, how to be a wealthy,
00:20:42.44\00:20:45.37
or how to manage
my money builder.
00:20:45.41\00:20:47.31
There are so many
websites, even when you talk
00:20:47.34\00:20:49.44
about balancing your check book
00:20:49.48\00:20:51.35
or just tracking your cash flow,
00:20:51.38\00:20:54.15
free websites that are available
00:20:54.18\00:20:55.75
to help you do that
to help you get started
00:20:55.78\00:20:57.65
because documentation is the key
00:20:57.69\00:20:59.29
to ways to beginning.
00:20:59.32\00:21:00.76
It's the first step of the whole
00:21:00.79\00:21:02.12
wealth building process.
00:21:02.16\00:21:03.83
Okay, I have another question.
00:21:03.86\00:21:07.00
I am have
available on my job a 401(k).
00:21:07.03\00:21:13.07
Okay. Okay.
00:21:13.10\00:21:14.44
Plan and I have options
to be able to buy stocks
00:21:14.47\00:21:17.97
and barns, you know,
they go to-- but the idea of,
00:21:18.01\00:21:21.18
you know, how do you,
you know, a lot of people,
00:21:21.21\00:21:23.45
you know, with your
job, you get pension
00:21:23.51\00:21:25.31
and you know, how do you,
what's a good way to do that?
00:21:25.35\00:21:28.82
Is it should we just leave it
and let it go or as Christians,
00:21:28.85\00:21:34.16
is it okay for us
to take a look at barns
00:21:34.22\00:21:37.49
and stock and then how?
00:21:37.53\00:21:39.56
What's the best way to do that?
00:21:39.59\00:21:41.23
That's a great
question. Let me jump in there.
00:21:41.26\00:21:44.57
Um, 'cause I get
that question a lot.
00:21:44.60\00:21:47.37
Should we as
Christians because some of them
00:21:47.40\00:21:49.74
purchasing stocks, is it--
and I get the question a lot,
00:21:49.77\00:21:51.81
is it a lot like gambling.
00:21:51.84\00:21:53.51
Well, let's address that.
00:21:53.54\00:21:56.11
There's a difference
between investing and charading.
00:21:56.14\00:21:58.85
Okay.
00:21:58.88\00:22:00.32
When you stock investor,
this is what you are doing.
00:22:00.35\00:22:02.98
You're examining the
benefits or the merits.
00:22:03.02\00:22:05.42
You're looking at, what
is this company producing,
00:22:05.45\00:22:08.29
what's their good of service,
is it something that I like,
00:22:08.32\00:22:11.06
is it something that I use.
00:22:11.09\00:22:12.59
And you're also
looking at the fundamentals
00:22:12.63\00:22:14.10
of the company.
00:22:14.10\00:22:15.43
Is this company
making money, do they got
00:22:15.46\00:22:16.83
a good board of
directors in the place,
00:22:16.87\00:22:18.20
how is the measurement team.
00:22:18.23\00:22:19.57
That's the
attitude of an investor.
00:22:19.60\00:22:21.17
An investor says, hey,
00:22:21.20\00:22:22.54
this company
doing some good stuff,
00:22:22.57\00:22:23.91
they're making money, I
want to participate in it.
00:22:23.97\00:22:25.51
I want to own a
piece of that company.
00:22:25.54\00:22:27.04
That's all the stock is.
00:22:27.08\00:22:28.41
It represents
ownership in a company.
00:22:28.44\00:22:30.31
Whereas a trader,
trader is not looking
00:22:30.35\00:22:32.08
at any of the things
that I've just mentioned.
00:22:32.11\00:22:33.98
Trader is simply
looking at stock prices.
00:22:34.02\00:22:35.98
That's gambling.
00:22:36.02\00:22:37.79
They're jumping in
and out, they don't care
00:22:37.82\00:22:39.19
what the company is doing.
00:22:39.22\00:22:40.56
The company could be
sinful, they don't care.
00:22:40.62\00:22:43.02
They just--
they're gonna stalk prices.
00:22:43.06\00:22:44.39
They jump in in and
out, that's gambling.
00:22:44.43\00:22:46.26
So investing and
trading is two different things.
00:22:46.29\00:22:50.50
So I definitely encourage
people to become investors.
00:22:50.53\00:22:53.80
By owning stocks,
stocks traditionally
00:22:53.87\00:22:55.77
being the fast
asset in this country.
00:22:55.80\00:22:57.97
So when you look
at being a part own
00:22:58.01\00:23:00.48
of some very
reputable companies,
00:23:00.51\00:23:03.75
yeah, you want to
participate in that.
00:23:03.78\00:23:05.28
Absolutely.
00:23:05.31\00:23:06.72
So how does one go about it,
00:23:06.75\00:23:08.45
again, looking
background or not,
00:23:08.48\00:23:10.59
you know, again, the wealth?
00:23:10.62\00:23:11.95
And how to build
wealth for people
00:23:11.99\00:23:13.36
who don't know
how to build wealth.
00:23:13.39\00:23:14.79
How to be wise about wealth,
00:23:14.82\00:23:16.16
maybe they
inherited some money even.
00:23:16.19\00:23:18.36
Want to wiser
than blow it, right?
00:23:18.39\00:23:21.70
Is it a good idea to go buy
a lottery ticket, for example?
00:23:21.73\00:23:25.47
No, that's not a good idea.
00:23:25.50\00:23:29.67
So what's the-- how does
God view lottery tickets?
00:23:29.70\00:23:33.58
I wouldn't advice that.
00:23:33.64\00:23:35.84
That, you know,
the scripture talks
00:23:35.88\00:23:37.21
about a get-rich-quick schemes
00:23:37.25\00:23:38.68
that they were
following it there.
00:23:38.71\00:23:40.68
But you talked about
participating in 401(k).
00:23:40.72\00:23:43.59
If your company offers a 401(k),
00:23:43.65\00:23:46.09
you need to participate
because the thing about it is,
00:23:46.12\00:23:49.52
it's hard to miss
what you never had.
00:23:49.56\00:23:50.93
The good thing
about 401(k) is that,
00:23:50.96\00:23:52.83
they take the
money out before you ever
00:23:52.86\00:23:54.20
have a chance to spend it.
00:23:54.23\00:23:55.56
And for most people,
00:23:55.60\00:23:56.93
they don't have that
discipline on their own.
00:23:56.97\00:23:58.73
That's a great way to
get some investments going
00:23:58.77\00:24:01.60
as well as prepare
for your retirement.
00:24:01.64\00:24:03.74
And it's also they
take it out pre-tax.
00:24:03.81\00:24:06.31
So that's less money
00:24:06.34\00:24:08.48
that you are
using the calculation
00:24:08.51\00:24:10.05
of how much your
taxable income means
00:24:10.08\00:24:12.48
so 401(k), it's
not taking our pre-tax.
00:24:12.51\00:24:15.25
And then a lot of times
the companies will do a match.
00:24:15.28\00:24:17.69
So they may say,
okay, if you put I a dollar,
00:24:17.72\00:24:20.19
we'll put in 50 cents.
00:24:20.26\00:24:21.62
And that's free money,
00:24:21.66\00:24:22.99
so we
definitely recommend people
00:24:23.02\00:24:25.86
to contribute to their 401(k),
00:24:25.89\00:24:27.40
especially, if they're getting
a match from the company.
00:24:27.40\00:24:29.66
Well, some people would say,
00:24:29.70\00:24:31.03
well, you know, the
stock prices going up and down
00:24:31.07\00:24:34.74
and with the market,
you know,, we're just,
00:24:34.77\00:24:36.24
you know,
recession and the economy
00:24:36.27\00:24:38.41
going up and down,
is it a good idea versus
00:24:38.44\00:24:41.34
just putting the
money in the bank?
00:24:41.38\00:24:43.71
Well, let's look at that.
00:24:43.75\00:24:46.45
The average bank
right now as we speak today,
00:24:46.48\00:24:50.45
the savings accounts
are paying a little less
00:24:50.49\00:24:52.32
or right at one percent.
00:24:52.35\00:24:53.76
Okay.
00:24:53.82\00:24:56.39
And you say, what else, I mean,
00:24:56.42\00:24:57.99
I know my money
is going to be safe.
00:24:58.03\00:25:00.23
But you look at the
average cost of prices rising,
00:25:00.26\00:25:03.03
is about three percent.
00:25:03.06\00:25:04.57
So if prices are
rising at three percent,
00:25:04.60\00:25:06.57
but I'm only earning one percent
00:25:06.60\00:25:08.50
and that's it's
I'm losing two percent
00:25:08.54\00:25:10.11
every year of my
purchasing power.
00:25:10.14\00:25:11.84
So is the illusion
of safety that you have
00:25:11.87\00:25:15.51
with just letting
the money sit there.
00:25:15.54\00:25:17.05
So, yeah, stocks
markets move up and down
00:25:17.08\00:25:20.62
just like real
estat moves up and down.
00:25:20.65\00:25:22.02
For years we thought
real estate only went one way.
00:25:22.05\00:25:24.42
But the recent financial
crisis taught us different.
00:25:24.45\00:25:26.35
The real estate
can't depreciate.
00:25:26.39\00:25:27.99
So but over the long
run, over the long run,
00:25:28.02\00:25:31.23
the stock market
has been a great place
00:25:31.26\00:25:32.83
to build wealth
averaging 10 to 12 percent
00:25:32.86\00:25:35.23
of its lifetime
so, yeah, in short,
00:25:35.26\00:25:38.37
and you have to,
the way you balance
00:25:38.40\00:25:41.50
that is, you're never
put money in the market
00:25:41.54\00:25:44.64
that you need in a short time
00:25:44.67\00:25:46.21
and by short time I
mean, within the next,
00:25:46.24\00:25:48.48
you know, four or five years.
00:25:48.51\00:25:50.65
If you want to
use the stock market,
00:25:50.71\00:25:52.05
use it for long term
with better strategies,
00:25:52.08\00:25:54.32
anything five plus years.
00:25:54.35\00:25:56.32
Well, you guys
have, both of you,
00:25:56.35\00:25:59.05
Reginald and Ebony,
you both have answered
00:25:59.09\00:26:01.79
so many wonderful questions.
00:26:01.82\00:26:03.56
You're just so
wonderful resource.
00:26:03.59\00:26:05.43
I really appreciate your coming.
00:26:05.46\00:26:07.83
I want to know if
we can have prayer
00:26:07.86\00:26:09.93
before we close out today.
00:26:09.96\00:26:11.30
Sure,
absolutely. Let's bow. Okay.
00:26:11.33\00:26:13.37
The Lord, thank you
so much for another day.
00:26:13.44\00:26:14.97
Thank you for the wisdom
00:26:15.00\00:26:16.71
you've given us to build wealth.
00:26:16.74\00:26:18.11
Thank you for
giving us the ability
00:26:18.14\00:26:19.77
to build wealth as well.
00:26:19.81\00:26:21.74
Lord, thank you, please
help us to be better stewards
00:26:21.78\00:26:24.38
and managers of our finances
00:26:24.41\00:26:25.95
and help us to consult
you and seek out opportunities
00:26:25.98\00:26:30.92
that you would be pleased with.
00:26:30.99\00:26:32.35
Give us a mind of the knowledge
00:26:32.39\00:26:33.76
to bless you
with all that we do.
00:26:33.79\00:26:35.52
Give us a heart, to
purpose in our heart
00:26:35.56\00:26:37.86
to return unto
you a faithful tithe
00:26:37.89\00:26:39.76
and honest offering
and let us not be hoarders
00:26:39.79\00:26:43.16
but let us have a
mindset to bless others
00:26:43.20\00:26:45.37
as you have blessed us.
00:26:45.40\00:26:46.74
We ask these blessings
in your Son Jesus' name
00:26:46.80\00:26:48.40
we pray, amen.
00:26:48.44\00:26:49.77
Amen. Amen.
00:26:49.80\00:26:51.74
So if we wanted to
be able to have you come
00:26:51.77\00:26:55.51
or someone watching the program,
00:26:55.54\00:26:57.21
are you guys
available to travel?
00:26:57.25\00:26:58.61
Oh, absolutely. Definitely.
00:26:58.65\00:27:00.08
Okay, so do you have
like one day seminars,
00:27:00.15\00:27:04.02
how does it work?
00:27:04.05\00:27:05.39
Yeah, we do one day seminars.
00:27:05.42\00:27:07.39
We've done-- do a
lot with churches.
00:27:07.42\00:27:09.36
We can come in and do
00:27:09.39\00:27:10.86
a Wednesday night Bible study...
00:27:10.89\00:27:12.89
Oh, really? Yeah.
00:27:12.93\00:27:14.56
Wednesday night
or Monday seminars,
00:27:14.56\00:27:16.87
workshops, we like workshops
'cause it's more interactive.
00:27:16.90\00:27:19.50
On various topics so
it can be as broader,
00:27:19.53\00:27:21.64
specific as you want to.
00:27:21.67\00:27:24.04
Absolutely.
00:27:24.11\00:27:25.44
Well, again,
thank you for coming
00:27:25.47\00:27:27.08
all the way from
Memphis, Tennessee.
00:27:27.11\00:27:29.21
I appreciate the
sharing that you did today.
00:27:29.24\00:27:31.85
And for those of you at home,
00:27:31.88\00:27:33.21
I hope that the
program was really helpful.
00:27:33.25\00:27:35.75
I know, I kind, you
know, it's nice as a host
00:27:35.78\00:27:38.55
when you get a good
information from your guest.
00:27:38.59\00:27:41.49
So I know it
benefited me tremendously.
00:27:41.52\00:27:44.39
So I hope it
does for you at home.
00:27:44.43\00:27:45.96
So hey, we did learn today
that we can all become wealthy
00:27:45.99\00:27:51.33
just by learning how
to live within our means
00:27:51.37\00:27:53.94
and learning how to
live underneath our means.
00:27:54.00\00:27:56.60
We've learned that God
has given us all the ability
00:27:56.67\00:27:59.87
to be able to get wealth
00:27:59.91\00:28:02.41
and so we want to
be able to a blessing
00:28:02.44\00:28:05.75
and open up our
hands and our hearts
00:28:05.78\00:28:08.45
to receive
whatever God has for us.
00:28:08.48\00:28:10.82
Thank you for joining us
today. May God bless you.
00:28:10.85\00:28:13.99
Have a great rest
of the day. Bye, bye.
00:28:14.02\00:28:16.36