Don’t Ignore The Generation Beyond You

Watch the episode here

Episode Topics:

• In America, having it all figured out at 18
• Benefits of Investing Early
• Why Age is on your side with Compound Interest
• Having it All Together at 18
• No rush to figure it all out

What’s shakin’, Hey, we’re back and today’s gonna be a good day. I know it is for you because this is something that you’re gonna want to hear. And even more importantly, I know you’re gonna think of at least three people you’re gonna wanna share with today because today we’re going all in today. I’m coming in hot because I got my espresso with me and I’m really excited about this. 

I love pumping up with an espresso every morning and there’s something that happened last week. I was actually filming a TV program with with a bunch of really cool people, David Meltzer, and his crew it’s called two minute drill. And the show is a pitch show. It’s not a funding show like shark tank is, but the format’s kind of similar. I was a guest judge in many different episodes. And what was really awesome about this is on every single show. 

There was always either a pro athlete or a celebrity. That was also one of the judges. And I had just an amazing time, met a lot of really awesome people, made new connections. And one of the things that really drove me home was this one, dude, Austin Ekeler.

Austin is a pro football player, a running back for the Los Angeles Chargers. And I mean, he’s well known in, in the NFL, just an amazing player. It was really fun watching him because his look on his face as we were listening to these pitches. I mean, I, you know, me, I’ve got a lot of huge facial expressions, a lot of movement, right? But this dude, you could tell how he plays the game because his face was just so serious and intently listening the whole time to the point to where they had the do reaction shots of him after just because his face was literally stuck, like freeze frame in a lot of these shows just because he was so intently listening and wanting to catch every single word, it was really cool. 

And you could show how his devotion to what’s going on in the moment, at least on the show would also be the same thing as when he is playing on the field. You know, just his intensity was, was insane to me. It was awesome though. I love this because I pick up things from other people when I look at them and they inspire me, right. That the flip side is what I’m gonna talk to you about today because I didn’t actually know what his age was, you know? And then I found out after we wrapped this one show that he’s 27 years old, that’s it just 27 years old. 

And of course the dude’s making millions of dollars. He’s an awesome individual. We’re gonna connect afterwards. We swap numbers and everything. But after the show, we’re, we’re out of the, the studio and we’re just talking in like the common area and he comes out, he’s like, dude, tell me about you. 

He’s like, you got kids, you know, he is like, how long you been in business? You know, what do you like to do? Do you play sports, all these other things. And then he is like, what’s your biggest financial  tip for me? It’s like, excuse me. And it’s like, not that I’m not doing well, right? But you look at pro athletes and they’re making literally millions of dollars a year, right? Just lots and lots of money. And of course that means that there’s a lot more to manage. There has to be a lot more discipline or intensity as you could see in his face in order to maintain those dollars. Because there’s so many athletes, there’s so many even that are like in the military or anything, or, or even winners of the lottery, as soon as they win. And that cash flow stops, they end up going broke because they don’t know how to manage that money. 

You know, they’ve got this huge influx and they buy all the cars, all the watches and everything. And this dude, Austin was just so down to earth. It was incredible. And then he says something to me, I’m like my biggest financial tip. I’m like, man, like, have you heard of an IUL? And I’m like, I just put this in place too. He’s like, I just put mine in place last year. He’s like, I locked in at like 11 and a half percent. He gets all excited. You know, I’m like, I locked in, in like 11.3 -4 So we’re like right there, brother, like, it’s amazing. Right? You never, you never lose money on this thing. And it makes you millions in years to come because it just sits there. And I’m like, dude, I’m like, you got like, cuz you’re like 15 years younger than me. 

You’ve got another 15 years for this to cook because this type of policy is a, it’s a compound interest principle. So the longer that it can sit there, the more it builds upon itself. And another 15 years means that he will in essence [00:04:30] have like four times the amount of money that I could have being 42 years old. You know? So we’re talking some more and we’re, we’re swapping some interesting business insights and everything. It’s like, dude, it’s like, I appreciate you. I love getting around people who are older than me, like one generation above me. So I can hear all the experience and amazing things that they’ve done in order to get where they’re at and what they even see for the next 20 years of their life. 

And this, this really struck me because I’m looking at it the same way now at this phase of my life, you know, back when I was mid twenties, I always thought that I was a little bit weird because I liked hanging around people in like their upper thirties and their forties. 

And cuz I didn’t see many other people doing that. And that’s really like where my business coaches were that age. It’s like I could always look up to them and see where they’re at. And now being in my early forties, most of my mentors are in their fifties and sixties. [00:05:30] It’s because they’re that one generation beyond me where they’ve seen more things than me experience more things than me and even probably most important, made more mistakes than me. There’s things that they’ve gone through that I can’t even fathom yet, but they’ve seen it or they’ve seen it in other people. 

And when Austin came up to me, he was like, I love getting around people who are older than me at first. I was like, man, now I feel like I’m old. You know, because he [00:06:00] said the phrase, you know, but at the same time, I mean he is like, dude, you look, you look like your young thirties though, man. That’s what I thought when I first saw him like that’s right. That’s I’m gonna maintain this look forever. I think however he’s saying, you know, I, I love being around these people who are just slightly beyond me in years because of wisdom that takes place. And I truly believe, I don’t know if I’ve said this before. I truly believe that wisdom actually just starts to begin when you get into your forties. And I look back because I don’t think that I was wise in my twenties. 

I don’t think that I was wise in my thirties, but now I’m starting to recognize and be more aware in my young forties. That’s a good phrase. I like that in my young forties, that’s I’ve actually seen a thing or two done a three, a three or four. And there’s more for me to do that. I can pull on this stuff now. Cause if you’re in your twenties, that’s a time to just try a bunch of different things, multiple things in Austin. I mean he’s, he’s dumping money into a restaurant. He’s dumping money into another TV show he’s investing in like nine or 10 different things to try to dip his hands in all these things because pro football or any sport for that matter is not a lifelong thing, right? When you’re actually a player on the field. So now he’s actually, I’m looking at this and I’ve always had this mindset that your twenties is a time period to just try everything you possibly can. 

I don’t believe. And I, I hate the fact that at least in America, that in the us, that when you’re 18 years old, you’re expected to have it all figured out. You’re expected to, to graduate from high school and then go to university, go to college and know your major, decide in like a matter of literally three months. Actually, even before that, from when you end high school to when you start your higher education to know what you’re gonna do for the next 60 years of your life and not to mention all of a sudden, Hey, you’re a legal adult and you’re expected to be fully responsible for all of your actions and also figure out what you’re supposed to do for the rest of your life and society, places, all this pressure on this demographic, this age to just have it all together. I think it’s stupid because it’s just, you’ve got so much time. 

And if wisdom doesn’t start until you’re in your forties, because you haven’t had the breadth of experiences yet your twenties should be a time to where you try as many things as you possibly can. If that’s professionally and personally hobbies, whatever, just try everything that interests you because there’s so much time to recover from huge mistakes after that. And I actually kinda hope that you make some big mistakes or that you learn from mother’s big mistakes. So you don’t have to make those same ones. There’s nothing like making a mistake and being able to recover through it. I’m telling you, and you have to have time to be able to do that. I’ve made my own huge ones over the past 20 years. And then after your twenties, when you get into your thirties, your thirties is a time to kind of like hone in on a couple of those. 

So you can start to filter out the things that you’ve tried, that you’re like, well, that sucked. Or I suck at it or this isn’t something that really interests me anymore. And you can start to kinda hone in on these things and start to build a foundation for yourself. And then when you get to your forties, your forties is really a time and I’ll never forget this because a client told me my very first client who owns six Buffalo Wild Wings, very first client for ReachOut, told me that Rick, when you get to your forties, that’s the decade. That is your busiest. It’s your grind. You make the most money in your forties. And I start to see this now with everybody that, I mean, it’s like the forties is the year that things start to blow up for you because you have put in all the mistakes, you’ve laid the foundation. 

You’ve tried all the things you’ve honed in on something that you feel you actually wanna do. And then when you get to your forties, it’s time to go all in on that thing and continue to crush it and push and push and push and push until you can’t push anymore. And then you still have that one more left in, you get to your fifties and it’s like, man, look at all this stuff. And then you can start to have your money, make money and begin to just impart wisdom that you’ve gained through your thirties and your forties into [00:10:30] those that are younger than you like Austin and show him some cool things. And they can probably show you some cool things too, but there is no rush, none whatsoever to think that if you’re in your twenties or you’re 18, for that matter, that, or even in your early thirties, that you have to rush to try to figure these things out. 

I know there’s this pressure from society around you, but the best tip that I can have for you is to get around those who are just like one generation above you, one generation beyond you in years. It’s something that has imparted wisdom into my life, allowed me to accelerate faster than I could have on my own. And it was accentuated this week and brought back to my intention by hanging out with Austin Ekeler. When he’s asking me for financial advice and business advice, because I’m just 15 years older than you, it was absolutely amazing. And when you get to that forties, that’s the time to go ALL IN.

I hope that gave you something amazing today. It’s just absolutely incredible. So don’t rush. Just keep trying out as many things as you can. And who knows if you end up being an early bloomer, if you wanna call it that, I can’t think of another phrase right now. And you figure out what you want to do in your twenties and your thirties. All I figured out in my twenties is that I didn’t wanna work for a large corporation  anymore. I wanted to build a large corporation that still has a nice startup deal to it, which is what I’ve done now with reach out. And we’re gonna maintain that culture through. So have an awesome week. I hope you guys just crush it today. I know you will and enjoy your day. Thanks.