292: [William Young] Navigating the Waves of Financial and Mental Resilience
Are your finances stressing you out? In this insightful episode of the About That Wallet Podcast, host dives deep with expert William R. Young into the powerful link between mental health and financial wellness. Discover actionable strategies for personal growth and the crucial role of discipline in achieving your financial goals. Learn how cultivating emotional stability and leveraging community support can pave the way for success. From effective goal setting and sound financial planning to the introspective practices of journaling and the wisdom of stoicism, this episode equips you with tools to build a resilient financial future. Explore the fundamentals of wealth management, embark on a journey of self-discovery, and gain valuable investment strategies insights. Whether you're seeking guidance through life coaching principles, understanding behavioral psychology in financial decisions, building resilience, or implementing a mindset change, this episode offers practical personal finance tips for overcoming challenges and ultimately achieving financial independence. Tune in now to unlock a more balanced and financially secure life!
Transcript
>> Anthony Weaver: This episode is sponsored by William R. Young.
Speaker:>> William R. Young: Well, when you have it, this is a
Speaker:very challenging, uh, question, and
Speaker:it's an excellent question asked. We all. I, I don't
Speaker:know what the numbers were. It was like there's a large percentage of
Speaker:people, I don't know if it's 5 or 10% that are
Speaker:battling depression at any one time and then maybe 20.
Speaker:Again, don't quote me on those numbers. I'm just saying it's
Speaker:like 20 or 30 of people are always struggling mentally with
Speaker:something and when, when you, you're poor or
Speaker:you're having, you're always in a
Speaker:recession.
Speaker:>> Anthony Weaver: Welcome everybody back to another exciting show, the about
Speaker:that Water podcast, where we help the Sam's generation
Speaker:build strong financial habits so that they can spend
Speaker:money, talk about money, and enjoy their money
Speaker:with confidence. And today I have an awesome person
Speaker:who loves the wave, love to
Speaker:actually pour in the people and actually help
Speaker:them thrive in their financial
Speaker:lifestyle. And his name is Will,
Speaker:who is a cfp, APMA at,
Speaker:uh, Liberty Wealth Management,
Speaker:um, of the Amer Prize Financial
Speaker:Services llc. So how you doing today, sir?
Speaker:>> William R. Young: Great. I'm, um, phenomenal. I know it's
Speaker:a weird day to say that,
Speaker:but I, I feel phenomenal. I
Speaker:mean, really the best mental strength
Speaker:and health, so to speak, and financially, emotionally
Speaker:and mentally need all of that to be healthy in
Speaker:physically. Uh, so I thank you for
Speaker:asking. I know it's a lot of trauma though, in the market
Speaker:right now.
Speaker:>> Anthony Weaver: That is true. And one of the things that kind of
Speaker:keep in mind is that putting, ah, a smile on your face is
Speaker:optional. Uh, because that's one of the things
Speaker:that a lot of people tend to forget that, you know,
Speaker:happiness is a choice. And how do
Speaker:we deal with that? And.
Speaker:Well, because you focus on the waves of the, the market
Speaker:and also the waves of our emotion. What are the,
Speaker:one of the ways that people can kind of stay a little
Speaker:level when things become
Speaker:turmoil under them.
Speaker:>> William R. Young: Uh, I can tell you what really led me on
Speaker:this journey to figure out, like, how can
Speaker:I have the emotional stability?
Speaker:You're well aware there's a million pieces of information
Speaker:coming at you at one time and it's
Speaker:overwhelming. But that's always been the
Speaker:case. It was just different ways in the
Speaker:past. And I
Speaker:decided that I was going to get up in the morning and
Speaker:instead of just going right to the gym, I was
Speaker:going to dedicate 40 minutes of walking
Speaker:and then do listen to
Speaker:four different audiobooks, 10 minutes a piece. I walk to the
Speaker:dogs and, and I
Speaker:devote meditations to
Speaker:things outside of my normal daily stuff and
Speaker:feed my mind with
Speaker:this information. And if it was good
Speaker:information, I would then,
Speaker:um, add it to a collection of
Speaker:notes and then meditate on those so that I could improve.
Speaker:And I actually found something called brain
Speaker:pickings. She's been writing a long time, Maria
Speaker:Popov or Popova,
Speaker:and she led me to Tim
Speaker:Ferriss who then. And I know this is long, but
Speaker:it's very important. She, he, he made a audio book
Speaker:of all of Senica's writings and stoicism. And I just
Speaker:started listening and they resonated with me.
Speaker:It was like. And they talked about
Speaker:people back then There was over 300
Speaker:coliseums in ancient Rome. People always think
Speaker:of one. But there was over 300. They used that
Speaker:to keep citizens distracted. And Senica
Speaker:was walking back and he goes, this is
Speaker:distractions that keeps people from really getting to know
Speaker:themselves. So I dedicated
Speaker:this time to study myself and learn to block
Speaker:things out. You must block
Speaker:things out to work on yourself. And that's really
Speaker:what started with my personal growth about
Speaker:17, uh, years ago, roughly. And
Speaker:it's been every single day that that little
Speaker:chunk of time allows me to say, I'm not going to listen to
Speaker:this. I've gotten my fill of information today, I'll
Speaker:wait till tomorrow.
Speaker:>> Anthony Weaver: So what happened 17 years ago where that caused you
Speaker:to start looking at life a little differently?
Speaker:>> William R. Young: I'm on the spectrum. And
Speaker:one, uh, of the problems when you're on it is if someone says
Speaker:something that isn't true and you're just
Speaker:a hundred percent logic, you can't read them
Speaker:right. You're like that, that doesn't make any
Speaker:sense. But that can be very
Speaker:confrontational, which is a problem.
Speaker:And I was like, why would someone tell me
Speaker:butter is made of peanut butter? Like it just
Speaker:to, to me that's how I saw it. Like
Speaker:that's be when someone says something
Speaker:to you directly and it's in the market related, you
Speaker:have all these biases and
Speaker:I couldn't understand it. So I said, I need to
Speaker:figure out one, how to have mental fitness,
Speaker:mental stability. Stoicism resonated with me. I
Speaker:found it purely on luck through Tim
Speaker:Ferriss. And you know, I learned there's three parts to
Speaker:it. And the first part is Virtue, Excellence and the
Speaker:dichotomy of control. Now you
Speaker:hear lots of books since then, such as Victor Frankl
Speaker:wrote about it and you said it right at the beginning. I appreciate
Speaker:that you control your attitude and smile.
Speaker:Keep saying it, keep saying it, keep saying and that's
Speaker:essentially said, control what you can control and then
Speaker:don't allow things outside your force
Speaker:to upset you. Yes. You can be concerned.
Speaker:Yes. And so once I dedicated that 40
Speaker:minutes in the morning because it's peaceful. So I get
Speaker:up at four and. And when.
Speaker:When I'm walking, I do it even when it's cold, even when it's raining.
Speaker:The dogs. I have rain jackets for the dogs. They look great.
Speaker:They're very fashionable. Um, I got
Speaker:the North Face dog, or dog face, it's called.
Speaker:So, you know, we get out there, we. And we walk.
Speaker:It's solitude. There's nothing out there. It's dark,
Speaker:it's quiet. Everyone needs time to
Speaker:themselves, whether you're a mother, father,
Speaker:or you're busy, you're dedicating to
Speaker:improving the mind, which is a gymnasium.
Speaker:That must be worked out. And once you do
Speaker:that, and I just. They just start getting
Speaker:into the marrow of your bones. You
Speaker:change. And that's essentially what happened. It took
Speaker:time because I would read it over and over again. And,
Speaker:um. And I'm not smart. I'm just disciplined.
Speaker:And I think discipline is more important
Speaker:than talent. Because
Speaker:you've never heard someone say,
Speaker:well, that, uh, let me say
Speaker:this correct. You've always heard people say that he's talented, but he didn't.
Speaker:He didn't accomplish what he should have. But when you said, somebody's
Speaker:determined, they
Speaker:accomplish what they want. So determination
Speaker:and discipline are more important than talent.
Speaker:>> Anthony Weaver: And one of the things that I come across a lot,
Speaker:uh, a lot of people say, like, certain people are lucky
Speaker:to get to where they are. And I was thinking,
Speaker:actually, I heard somebody talk about this on another podcast, was
Speaker:saying, is that people, their success
Speaker:is chosen by somebody else,
Speaker:meaning there's somebody who always is better
Speaker:than you in these different aspects so that they
Speaker:can run faster, they can read faster, they
Speaker:understand math faster, or
Speaker:whatever it is. But
Speaker:it had to be somebody on the opposite end
Speaker:that had the opportunity to say,
Speaker:I want you to be
Speaker:on my team, or I want you to
Speaker:succeed. I want to give you this amount of money
Speaker:to reach your goal. Um,
Speaker:and it kind of creeps in that imposter
Speaker:syndrome of why me
Speaker:in their finances or in their
Speaker:life? And how do they kind
Speaker:of navigate that mindset of
Speaker:that, like, it's okay to be
Speaker:chosen out, um, of the rest?
Speaker:>> William R. Young: Well, I think
Speaker:your question about chosen, there's multiple layers to that.
Speaker:The first part is you have to figure out what is your
Speaker:personal goals. A lot of times we wake up in
Speaker:the morning and we go to work. But, but we haven't written down
Speaker:what our goals are. What do we want to accomplish?
Speaker:That is very important. And I know the
Speaker:younger version of me is now dead in, in the morgue,
Speaker:so to speak, but I write my goals down. It's so
Speaker:important to write, to journal, even
Speaker:if it's a little bit like, I got up struggle
Speaker:today, I cheated on my diet. I didn't want to do
Speaker:that because you, because we're all human
Speaker:and putting out your failures are just part
Speaker:of helping you attain your goals. But
Speaker:you have to write your goals and figure, like,
Speaker:where do I want to be? And it's really hard to
Speaker:do in your 20s because you're like having
Speaker:fun. You know, you have all this energy and you're
Speaker:not necessarily married with kids yet. That's.
Speaker:But you know, you know, we all remember, um, that in our 20s
Speaker:it was very easy. You wake up, you're not tired, you went out the
Speaker:night before, you get up, you know, you're like, what are we doing tonight?
Speaker:You're, uh, always running around, you know. But as
Speaker:you, but when I start to talk to people and when I meet people,
Speaker:regardless if they're working with me
Speaker:or not, I said, we, let's figure out your goals.
Speaker:You and you write a plan. And a lot of people like, I'm too
Speaker:young to work. I'm like, we need to figure out, is it a home
Speaker:in two years you need, do you, you know, do you need
Speaker:a car? And people are like, I've always wanted this. And like, maybe
Speaker:that's something. Let's get, let's get your needs
Speaker:done first and figure out your wants and
Speaker:then your dreams. So if you break things
Speaker:down like that, my, my
Speaker:dream is I want to, I want to be
Speaker:surfing and have a place in, in say, Costa
Speaker:Rica and work from there a lot
Speaker:because I enjoy floating in the water. And when you're in
Speaker:the water, there's a peace. So I know what my goals
Speaker:are. And, and it's really
Speaker:tranquility in a world that seems so. And
Speaker:I tell clients that and I share mine. I think important when we're
Speaker:having this conversation, you share your goals
Speaker:and you ask what others are seeking.
Speaker:And really when they know what you're trying to do,
Speaker:you get a real sync up with somebody
Speaker:because they're like, oh, okay. And I think that's where comfort
Speaker:comes in. So. But initially it starts on your
Speaker:own and writing down your goals.
Speaker:And then once you write down your goals, you
Speaker:want to work with an advisor who does financial
Speaker:planning 100%. And I
Speaker:think it's going to be more important than ever because the news
Speaker:is just too overwhelming. And.
Speaker:And I had a lot of conversations yesterday
Speaker:and Thursday, but I had planned for this. So I
Speaker:had been effectively forecasting them for their
Speaker:goals. Like, there's going to be things. These are going to be our
Speaker:goals. And I think clients like to know
Speaker:that I know their goals. But then also we can see that they wrote
Speaker:them down. And we're like, hey, we're in line. We're in line.
Speaker:We're a little ahead of where we expected. And we're
Speaker:just. So there's. There's multiple layers to.
Speaker:To the goal setting. But I set goals
Speaker:not just in the year, but when they come to me. And
Speaker:when I'm walking, which is what you kind of. I'm, um,
Speaker:sometimes thinking, and I've had an idea in my head, and I'm like,
Speaker:oh, and then you can write it down on your phone. And now you.
Speaker:You have a goal. So you write down those goals. Everybody, when
Speaker:they come to you, you can always
Speaker:change what your goal is at any
Speaker:time.
Speaker:>> Anthony Weaver: So it goes back to controlling the controllables, right?
Speaker:>> William R. Young: Yes, correct.
Speaker:>> Anthony Weaver: Um, and we. Because we were talking down
Speaker:before, when the market is down, you had a goal of to make
Speaker:a hundred thousand. Now that the market is down, you're like, you have
Speaker:a goal of 200,000. You want to lean into that a little bit more.
Speaker:>> William R. Young: Yeah. So that I, you know, I try to have a little humor.
Speaker:There's some funny things on Twitter or other places, and
Speaker:there's a fake account called Not Jerome Pow.
Speaker:And it's pretty funny. And
Speaker:it goes. My goal was to make a hundred thousand. Now it's
Speaker:200,000 for years. Because you
Speaker:have people that are trying to chase
Speaker:something and they try to make money too fast.
Speaker:We've Human nature, and this is why
Speaker:stoicism, or going back to Seneca or Marcus
Speaker:Aurelius or Xeno or
Speaker:Cleantheses. Everybody's always
Speaker:tried to make a quick buck. It's human nature to do
Speaker:that. Um, maybe it took a little longer than.
Speaker:But they wanted it quicker than everybody else.
Speaker:That's. That's how we've always been wired. And there's
Speaker:some really great stories. In the late 1800s in the
Speaker:US they had Bucke shops, which were
Speaker:fake New York Stock
Speaker:Exchange trading places where you could literally gamble and
Speaker:stuff. So there's all kinds of. We've always done it, and
Speaker:it was just a tape ticker coming out and Stuff like that.
Speaker:And they did it over the uh, Western Union
Speaker:wire. So people were always trying to make a quick
Speaker:buck but you can't
Speaker:successfully over time do that. You can
Speaker:kind of get lucky. But with investors I try to
Speaker:share what is our goal
Speaker:and then if we get an opportunity, and this
Speaker:is where I talk about strategic investing,
Speaker:I tell them, let's be patient.
Speaker:There's going to be events that happen so we
Speaker:always have some cash. So right now, even if
Speaker:you are my most aggressive person, I have you in
Speaker:30% cash which looks, I know
Speaker:it looks brilliant right now and that's why I'm not
Speaker:stressed. But
Speaker:there are going to be opportunities because I told them earning
Speaker:seasons coming, Walmart might say something funny.
Speaker:Google. And I'm not recommending, I'm just saying Apple might say
Speaker:something.
Speaker:And Apple drops 20%. There's always these things that are
Speaker:coming up and again there are so
Speaker:many unknown unknowns ahead that your
Speaker:attitude is like, I'm gonna work with somebody, I'm
Speaker:gonna find somebody, I'm gonna be patient and wait. And
Speaker:that patience boils down to stoicism
Speaker:or some type of philosophy where it's going
Speaker:to come. And I, I told my father, dad, I'm
Speaker:excited, there's going to be things coming.
Speaker:And I tell my clients and they hear my attitude and they're like,
Speaker:why are you so positive? I said, because we have this money setting.
Speaker:I'm not going to sell Amazon. A ah, year from now Amazon's
Speaker:going to be okay, I'm pretty sure. And I'm pretty sure
Speaker:Walmart will be in business. And I'm pretty sure
Speaker:about certain things. But
Speaker:having the right attitude and knowing I got some money and
Speaker:I'm not leveraged means that people can go
Speaker:into this thinking, I know I'm down, my
Speaker:portfolio doesn't look good, but we're going to look at
Speaker:things because all year long there's going to, we don't know what's going to
Speaker:happen, but we know there's going to be some crazy. I know there's going
Speaker:to be some craziness and I think they feel really good about that
Speaker:because we have a plan. And
Speaker:you know, I, I haven't been, I'm um,
Speaker:not positive on people running things, but I
Speaker:know I'm um, positive on there will
Speaker:be positives ahead to look forward to. The
Speaker:mentality of that is very important.
Speaker:>> Anthony Weaver: So you mentioned the mental side of the house.
Speaker:Um, especially in the time of need right now
Speaker:far as people just kind of, they, they need answers, they trying to look for
Speaker:a way forward. Would you recommend
Speaker:therapy first before seeing a c. Uh, a
Speaker:CPA or a CFP such as yourself?
Speaker:>> William R. Young: Well, when you have.
Speaker:Ah, it. This is a very challenging
Speaker:question, and it's an excellent question asked.
Speaker:We all. I. I don't know what the numbers were. It was
Speaker:like, there's a large percentage of people,
Speaker:I don't know if it's 5 or 10% that are battling
Speaker:depression at any one time, and then maybe 20.
Speaker:Again, don't quote me on those numbers. I'm just saying it's
Speaker:like 20 or 30% of people are always struggling mentally with
Speaker:something. And when. When you. You're
Speaker:poor or you're having financial problems, you're always in
Speaker:a recession, and that weighs on you too.
Speaker:I don't. I can't necessarily
Speaker:tell someone what they need, but I have went through
Speaker:therapy, and I am now in something
Speaker:called the Social Edge by Blake Eastman, that
Speaker:we're going through human emotions and
Speaker:behaviors that I'm always in. I'm always getting coached
Speaker:myself, even if I'm a coach across the board,
Speaker:because I need to get
Speaker:motivation and see things, and if I'm wrong, I need to be
Speaker:told and held accountable. So I'm doing that type of
Speaker:stuff as well. So I would
Speaker:say you could use a therapist. You. You might have
Speaker:some type of coach. It doesn't mean the coach you find is
Speaker:good, but try to. To get things
Speaker:outside of your normal peripheral.
Speaker:Because the mistake we often make is we're just
Speaker:connecting with people in our little social circle.
Speaker:Go outside of that safety zone and
Speaker:find somebody, whether it's. And talk
Speaker:to them, and then figure out if they're working, because you'll start to
Speaker:uncover and unpack all those things. I don't know if that's
Speaker:a licensed therapist, which it may be, or it might be a great
Speaker:coach, but that's how you develop the inner
Speaker:citadel, by figuring out who you are,
Speaker:and that is powerful. So, yeah, I
Speaker:definitely recommend going across and talking
Speaker:to different people. Coaches and
Speaker:I cast a wide net. I wound up talking to, like, 12
Speaker:or 13 different people, and then I found two that
Speaker:I liked. And because
Speaker:you're. My personality can be
Speaker:quiet or it can be very boisterous. It just
Speaker:depends on the person I'm interacting
Speaker:with, so to speak. And.
Speaker:>> Anthony Weaver: Yeah, I was. Sorry.
Speaker:>> William R. Young: No, no, no, please. That's a great question. Wow.
Speaker:>> Anthony Weaver: Yeah, because I'm thinking of, um, again,
Speaker:we mentioning finding your peace.
Speaker:Uh, and I think a lot of the times we forget
Speaker:that plants grow the fastest when it's the most
Speaker:quietest. And when you got all the noise
Speaker:and if you ever notice when there's a lot of foot
Speaker:traffic on grass, the grass doesn't
Speaker:grow in there because the environment is too
Speaker:volatile for it to even thrive. So when it's left
Speaker:alone and it's quiet, they can do that
Speaker:thing. And usually everybody was like, man, you growing
Speaker:like a weed. But when you think about it, the
Speaker:weeds only grow when you're not looking. Every
Speaker:time you look at it, just look like it's there, but
Speaker:it's just a moment in time. As soon as that sun goes down, it's
Speaker:sprouting up again. So it's going back to like how
Speaker:you said that reset. That's necessary that we all have
Speaker:to have. Um, and finding that quiet in the
Speaker:noise. And you said like 4:00 in the
Speaker:morning. I'm trying at 4.
Speaker:>> William R. Young: Yeah. Now,
Speaker:what you said. And I love the garden metaphor, the plant
Speaker:metaphor. You need darkness for the plants
Speaker:to grow. Yes. They need light during the day for
Speaker:photosynthesis, but any great garden
Speaker:also needs you to go in and pick out the weeds.
Speaker:So that's why you need to be inside your head
Speaker:if you want to have a wonderful garden. You got to go and you got to
Speaker:water that, and that is going and getting the knowledge in
Speaker:and then the knowledge to pull out the weeds and the bad
Speaker:habits. That. The garden metaphor is perfect
Speaker:because. And then you go through seasons of change.
Speaker:They. Some bloom at certain times. And
Speaker:that's why you need to be inside your head and pick out the
Speaker:weeds. And you. You need your
Speaker:sleep. That is, the plants can't grow if it's
Speaker:just sunlight all day. They need. They need. And that's
Speaker:essentially the cycle of sleep. Well, and
Speaker:if, you know. And so there's a lot of pieces to that, but
Speaker:I. I love the way you use that.
Speaker:You need quiet time so you can grow. Plants can't grow
Speaker:if they're walked on all day.
Speaker:>> Anthony Weaver: I got plenty of plant metaphors there.
Speaker:>> William R. Young: Okay, good. No, it's true. Because we're very
Speaker:much like that, you know, and we're at our best at certain
Speaker:times and, you know, certain times,
Speaker:you know, in the morning, the sunlight might be better for
Speaker:certain plants. And whatever the case, it, um,
Speaker:or certain temperatures. But I. I like palm trees.
Speaker:I have a ton of palm trees in my house. And they like warm
Speaker:weather and I do too. I
Speaker:don't like this cold, we weather, so. Yeah. Right.
Speaker:>> Anthony Weaver: But it goes back to where you talk about finding your tribe, finding a
Speaker:community because if you notice only certain plants
Speaker:can grow in certain climates. Um, not all
Speaker:plants are welcome in that particular climate. Like I can't grow
Speaker:an orange tree in the Arctic. Like it's just not going to happen
Speaker:no matter how many times I try. You know,
Speaker:it's, I'm saying like I got tons of metaphors
Speaker:with this because that's
Speaker:funny, it's fun.
Speaker:>> William R. Young: Uh, but it is true. It's absolutely true. You need to find your
Speaker:community. And nowadays I'm finding
Speaker:people through different social
Speaker:circles.
Speaker:Like I'm talking to someone in la, uh, in this
Speaker:group I had someone who's a pianist who trains people
Speaker:and I forgot the name of the big school in New
Speaker:York. And then I'm talking to somebody who grew up in a
Speaker:little farming uh, community in Israel,
Speaker:now lives in um, uh, California.
Speaker:And I've found my tribe and they're all over the place.
Speaker:And I did international internship program with
Speaker:students for about 10 years. And
Speaker:so I've connected with certain students on a higher
Speaker:level. One of them rule, he's born in
Speaker:the Netherlands but he's living in England. And so I'm, um, I
Speaker:have this connection and as I went surfing
Speaker:that's really brought me out to be
Speaker:me because I have friends that I can
Speaker:talk to. I'm, I was sending someone a tick
Speaker:tock in Berlin. She goes, bill, you know, I don't use tick
Speaker:tock. I'm like, you're the younger generation, I'm the
Speaker:older one. And that community is helpful
Speaker:because you can also communicate with them on a deep. So you don't
Speaker:necessarily just to have that, have them in front of you. And you're right about
Speaker:that, that's very, very powerful. Thank you for,
Speaker:for saying that, getting your community
Speaker:correct.
Speaker:>> Anthony Weaver: Yeah. Um, and one of the words that I
Speaker:try to change the, the terminology against
Speaker:it which is poor versus broke where
Speaker:broke is a temporary. It is
Speaker:something that you're in the moment of. And
Speaker:poor is more so focusing on the mindset.
Speaker:Um, because like you said earlier, if you're in that poor
Speaker:mindset, yes everything's going to feel like it's always
Speaker:against you. You're not going to see those opportunities
Speaker:of growth through that, through
Speaker:that shine. But if you just understand like, hey, this is just a
Speaker:temporary moment in life where
Speaker:you at then you can always see, try to find
Speaker:that opportunity and look at the things that you
Speaker:can control. Um, what are your thoughts on
Speaker:that?
Speaker:>> William R. Young: Well, it's well said and there's a bias called
Speaker:learned helplessness where people
Speaker:often are Surrounded by
Speaker:other people that keep them in that
Speaker:area where they, they feel like they're helpless, they have no
Speaker:control. And that's not their fault
Speaker:because they were maybe born into it or uh, wound up in
Speaker:that. And I think the
Speaker:effect of, it's called the Pygmalion effect, where people
Speaker:are telling you you're not good or, and you can
Speaker:have, uh, that does affect us.
Speaker:And I realize that when you're in those,
Speaker:it's really hard to break free. That's why
Speaker:obviously you have people who aren't that smart
Speaker:but who were born with wealth, have so many
Speaker:advantages or white, uh, privilege or whatever the
Speaker:case. You have these. But we all
Speaker:psychologically have to try to find that.
Speaker:And I hope your podcast and we can reach
Speaker:people and let them know regardless if we were in a
Speaker:better situation or not, the attitude
Speaker:and what you can control is
Speaker:you. And that is, it may be
Speaker:hard because you've had a mindset that
Speaker:isn't growth minded because you've had too many
Speaker:people, um, destroying your
Speaker:plants, you know, your growth and putting you
Speaker:down, but you got to get away from them. And that can be
Speaker:hard because that's all you've known. But
Speaker:that is the single most thing first. You
Speaker:come first. It's not that you're selfish. It's
Speaker:that if you don't water your own plants, if you don't
Speaker:grow your mind and work your mind out and your
Speaker:body, you're not going to be healthy to do anything
Speaker:great that you want in life. And that's really where it
Speaker:starts. And then you can start saving money, you can
Speaker:start figuring things out, having healthy relationships, which
Speaker:are all part of the, you know, the behavioral psychology
Speaker:of money. You know, healthy relationships
Speaker:allow you to not be taken advantage of, you
Speaker:know.
Speaker:>> Anthony Weaver: Stuff like that and
Speaker:understanding where you, where you want to go.
Speaker:What's. I like how we pretty much
Speaker:putting everything forward to build upon,
Speaker:um, from the very first, uh, moment of
Speaker:this conversation, which is
Speaker:we need to find our peace. Yes, we need to
Speaker:find it. And sometimes finding our peace, meaning we might have
Speaker:to change environments. Like uh, you said with the palm
Speaker:trees you have, they like the warm
Speaker:weather.
Speaker:>> William R. Young: Yeah.
Speaker:>> Anthony Weaver: You're not going to do well if you move up to like
Speaker:Connecticut or something like that. And you now you got a high
Speaker:bill because you want to keep your, uh, your palm trees.
Speaker:>> William R. Young: Correct. Yeah. The environment
Speaker:matters and I, I hope everyone
Speaker:who's listening says I need to make sure
Speaker:I'm in the best environment. And I've had to let
Speaker:go of friends Because I'm going there, here,
Speaker:and they're here. And it's. There's no
Speaker:hard feelings. It's you. They're
Speaker:pulling me down. And you have to realize
Speaker:you come first. And that's where the mindset,
Speaker:stoicism, talks a lot about it in
Speaker:wisdom, knowing what is in your
Speaker:control and then
Speaker:executing that. Uh,
Speaker:you have to really think, like, if I bring this person in,
Speaker:they want to go out and have beers on a Wednesday night. I
Speaker:got to get up early Thursday because I got really important plans.
Speaker:Or they just want to watch a football game a day.
Speaker:I want to do some healthy stuff off the couch. I want to
Speaker:run or go to the gym. So those are little tiny
Speaker:decisions you make where they have profound
Speaker:impacts on your life. And that's.
Speaker:That's where you need to find the right community.
Speaker:Once you find them, that's how your life starts to change.
Speaker:>> Anthony Weaver: Yeah. So how did you find that power of
Speaker:know, then? Because, like you
Speaker:say, we got to find those boundaries, but how do. How do we
Speaker:practice that?
Speaker:>> William R. Young: Well, that's. That's very,
Speaker:very profound. I put it in my
Speaker:reminders on my phone. It reminds me every day,
Speaker:you have to say no. You have to
Speaker:say no. And that means not
Speaker:checking the market. That means
Speaker:at certain times. That means not taking calls
Speaker:at certain times. The power to build your
Speaker:calendar. That is in
Speaker:work. I built my calendar
Speaker:because that's. That reveals your truth
Speaker:of who you are. So when I'm in a meeting, I'm
Speaker:not doing other things. When I'm doing trading, trading, I'm not
Speaker:taking calls. So everything is built around
Speaker:that. And then when I get to my. My
Speaker:day ends earlier than most because, um, I'm mentally
Speaker:tired. And I tell people this.
Speaker:When you say, I'm done for the day, don't
Speaker:take calls because you have what's called
Speaker:decision fatigue. And you. You're
Speaker:not at your best. And you have
Speaker:to have the mental fortitude to put in and say, I
Speaker:will put this in my calendar tomorrow.
Speaker:So, uh, I'm saying no now.
Speaker:M. And I know a lot of people that just feel like they gotta
Speaker:respond right away, but I don't. Because you're not at your
Speaker:best. It's like, you know, you've worked
Speaker:it. Uh, you've done all this stuff all day, you've already ran. And then you're
Speaker:like, you think you could run as well at the
Speaker:end of the day that you didn't know? Of course not.
Speaker:And that's. That's where you have to organize
Speaker:things. So you're going to do it. And once you
Speaker:get those behaviors and they feel normal, but until
Speaker:you do that now, it won't feel normal.
Speaker:People say this to me as I train people. Uh,
Speaker:you didn't check your emails yet. I'm like. Because I
Speaker:checked them at 4 and I checked them at 10.
Speaker:I can't. I have to say no to all these
Speaker:things. And then I'm very efficient, and people
Speaker:get the very best of me because I'm in
Speaker:with them. I'm not checking my phone. I'm not looking around.
Speaker:I'm not sidetracked. You will be better, more
Speaker:efficient, and reach your goals quicker. When you
Speaker:say no, that is. I, I. That brings every
Speaker:single morning say no 25 times today.
Speaker:>> Anthony Weaver: I like that one.
Speaker:>> William R. Young: Yeah, it is. It is weird. I, I've never been
Speaker:asked that question before. That is. That is
Speaker:powerful. But it is what I do. I, I hear that
Speaker:people say all the time.
Speaker:>> Anthony Weaver: So when it comes to. Because I, um, noticed you mentioned your
Speaker:father. How has he been impacting your
Speaker:financial journey?
Speaker:>> William R. Young: My father has helped
Speaker:me through all of my financial
Speaker:mistakes. Very few
Speaker:people could have that happen. Now. I'm not saying there were a lot, but
Speaker:my father has been there for me. My father is
Speaker:a saver. He's. He's very
Speaker:disciplined. I was
Speaker:not when I was younger. I didn't really start
Speaker:in this field until I was
Speaker:32. So I've been doing 21
Speaker:years. So I've been 21 years in the field. And it
Speaker:took me time to understand that because.
Speaker:And that's also part of my message is you're not
Speaker:locked into anything. You
Speaker:can change and pivot course whenever you want. My
Speaker:father helped me get a
Speaker:job out of college and stuff like that, but I wasn't happy.
Speaker:And he didn't. He was okay with me switching
Speaker:careers. So my father has been very helpful
Speaker:for me. And even when we
Speaker:had disagreements, those
Speaker:disagreements, I took them as positives to
Speaker:change who I was. Because I can't change
Speaker:him.
Speaker:>> Anthony Weaver: Right?
Speaker:>> William R. Young: Not, not that I need to or want to. I'm not saying that as
Speaker:a door, but once you realize you have to be
Speaker:your own person. Like, my dad's very happy for
Speaker:me now, but he might not have
Speaker:necessarily been happy the time when I made a
Speaker:career change, because you. You're literally starting
Speaker:over. But my dad has been very impactful,
Speaker:and he helped me financially to start my business
Speaker:and stuff like that, which I realize
Speaker:is not something a lot of people get, and I've never had
Speaker:anyone ask that. And I've never, ever revealed that before,
Speaker:but I am very lucky, and I love him for that, and
Speaker:I tell him that. And he's not somebody that likes
Speaker:emotions because
Speaker:he's in the older generation. I'm like, I'd hug you right
Speaker:now. It's like, you don't need to do that.
Speaker:Yeah. But anyway, I think it's important
Speaker:when you listen, you. Sometimes people want to be
Speaker:helped. Sometimes they want to be heard, and sometimes they want to be
Speaker:hugged. Those are my threes. Help
Speaker:tug their herd.
Speaker:>> Anthony Weaver: I like that because to me, the hug could be a
Speaker:verbal hug. Um, just saying thank
Speaker:you.
Speaker:>> William R. Young: Yes.
Speaker:>> Anthony Weaver: Um, and for me, I think a lot of people
Speaker:don't say thank you enough as they. They like
Speaker:to correct ah, even though they want
Speaker:to be heard sometimes, like, an attaboy can
Speaker:go a long way. And I'm thinking from people who are in
Speaker:leadership who are afraid to even say
Speaker:thank you, or, hey, team, good job.
Speaker:But it's a difference between. All right,
Speaker:I'm gonna go back. I'm sorry. Because I'm an elementary educator, so.
Speaker:>> William R. Young: Yeah.
Speaker:>> Anthony Weaver: One of the things is that, um, in my
Speaker:teaching career, I used to teach
Speaker:was that we actually had to
Speaker:understand to give thanks
Speaker:and actually say no to an action,
Speaker:not to the person, so that they can
Speaker:understand this is a, ah, bad action. Not that
Speaker:you're a bad person. And thank you for
Speaker:doing a good job on this
Speaker:activity. Not that you're just a good
Speaker:person.
Speaker:>> William R. Young: Is that correct? No, that. That is
Speaker:important. I think we often don't share
Speaker:that. And that's why I got into a
Speaker:lot of this stuff, because I would just say no, but I
Speaker:didn't give them the reasoning behind it.
Speaker:I wasn't saying no to them. I was saying no to the
Speaker:time that they wanted
Speaker:to do it or no to the event they wanted to do,
Speaker:not to them as a person. And that's
Speaker:oftentimes, like, now, that's not something I enjoy
Speaker:anymore. You know, maybe we can agree on a,
Speaker:um, musical or something like that. I love musicals.
Speaker:I love music. Music makes me happy. And I love the violin, which
Speaker:is odd, but. Yes. And as you change,
Speaker:you're not saying no to the person, and I think that's
Speaker:important. And you can acknowledge I appreciate being
Speaker:asked because it is nice someone's thinking of you,
Speaker:and you should acknowledge that that's really,
Speaker:uh, a, um, major part of having a strong
Speaker:community. Because a lot of times people don't say thank you, and.
Speaker:And you can build resentment from that.
Speaker:>> Anthony Weaver: Yeah. And it's. It's sad because even I think it
Speaker:was, um, it wasn't Meryl Stree. It was
Speaker:somebody that I saw on, I think, uh, on Instagram.
Speaker:I was just flying through Instagram and, you know, team
Speaker:scrolling.
Speaker:>> William R. Young: Yeah, we all do it.
Speaker:>> Anthony Weaver: Yeah. It was a celebrity that felt
Speaker:so bad because her mother
Speaker:resented her saying, like, hey, you did not thank
Speaker:me when you got your award 30 years
Speaker:ago. But when they looked at the
Speaker:recording, she actually did think her
Speaker:mom, her mom didn't hear it. And so
Speaker:all of these years, she felt so
Speaker:bad that she did not thank her mom. But
Speaker:now that the recording came out to show that
Speaker:she actually did, it's almost like,
Speaker:wow, like, these emotions, all they had to do is just go
Speaker:back and look at the tapes.
Speaker:>> William R. Young: Yeah.
Speaker:>> Anthony Weaver: And, and I, uh, I think that's something that we miss in
Speaker:finances is to really look back
Speaker:at, like, hey, you did your best you could with what you
Speaker:had at the time, and it's okay.
Speaker:Like, you can still change and shift from that
Speaker:perspective.
Speaker:>> William R. Young: It's resiliency to one look
Speaker:at yourself and then you got
Speaker:to dig deep and then go back and say,
Speaker:yeah, I made mistakes, I did these
Speaker:things, I apologize
Speaker:for them. And, uh, you know, to yourself
Speaker:and. But you, you change because now you're doing
Speaker:the growth steps. You're investing 10%
Speaker:of your income. You're. You're putting money into
Speaker:a Roth now. You're not taking
Speaker:the high risk stuff. You're using indexes, you're
Speaker:working with an advisor, you're selecting some
Speaker:stocks that align, uh, with your personal
Speaker:goals and also some that you think could grow
Speaker:over time. And you, you're, you're starting,
Speaker:and then you start to really build, like
Speaker:a mental fortitude and strategy. Because we all need
Speaker:strategies in life.
Speaker:We need to figure out how we're going to take things. And,
Speaker:you know, I handle the finance side. Just like when I'm going
Speaker:out to a wave, if I see the size
Speaker:of it, I got to figure out what is the channel to
Speaker:get out so that I don't get. I don't hit 10 waves
Speaker:in a row. I. Or, uh, learning how to duck
Speaker:dive, which is really fun. You see people
Speaker:when we dive under.
Speaker:>> Anthony Weaver: Oh, yeah. Okay.
Speaker:>> William R. Young: Because until you learn that or you have too big a board, you get
Speaker:hit hard, and it's like, it's like,
Speaker:why would I ever do that? And so these
Speaker:are the types of things like you said is,
Speaker:um, going back and looking at your past may be
Speaker:important and resolving those issues, but
Speaker:also saying, I'm not that person anymore
Speaker:apologize or. Or work towards what your goals are in the
Speaker:future. That's a really good thing because people do have
Speaker:resentment. And you don't want to resent yourself for not
Speaker:making decisions because let's say I. I'm 10 years
Speaker:behind on where I should have started. That's okay
Speaker:because. But I'm happy now.
Speaker:>> Anthony Weaver: And because it's bringing up so
Speaker:many. I like this conversation as. As I'm going
Speaker:through my journey now, get pulled back on more things that I've came
Speaker:across from different conversations.
Speaker:Is that the
Speaker:comparison to somebody else's
Speaker:lifestyle? Like, you look at some of these celebrities who are like, younger
Speaker:than you are, but making all this money. M.
Speaker:But you don't know that backstory until they write a
Speaker:memoir of, like, how their parents were beating them or
Speaker:the other things that's happening from
Speaker:the producers or executives that were part of their
Speaker:journey, the things that they had to go through to get to where
Speaker:they are today.
Speaker:Um, and, you know, that's the reason why I was
Speaker:asking about your story is because it's like those
Speaker:are sacrifices that you've made to get to where you are
Speaker:today. And is somebody else willing to
Speaker:make those same sacrifices? Um, so
Speaker:that comparison piece, like you we were talking about earlier,
Speaker:this is the, um,
Speaker:really taking the moment to understand
Speaker:your life and not looking at others. So how
Speaker:can people put their blinders up to kind of ignore
Speaker:that?
Speaker:>> William R. Young: I bring a lot of this back to the psychology and
Speaker:the stoicism. You need to have something
Speaker:to keep you focused. Some people naturally are
Speaker:born that way, but I think we all need to train.
Speaker:It's like running or fitness. You may have
Speaker:ran in the past, but that doesn't mean your
Speaker:Cardio is good 20 years later.
Speaker:And the mental journey is requiring you to do
Speaker:this every day. And you might get better at it, but I still
Speaker:dedicate 40 minutes a day to it. I'm better at it, and I
Speaker:can put more in there. But the second
Speaker:you stop running, so to speak, or working out
Speaker:or eating healthy, that those
Speaker:behaviors are done. So this is a lifelong habit
Speaker:to doing, you know, to.
Speaker:To living this way. And I think we
Speaker:have. That's why you have to write down your goals and stick to it. But we
Speaker:all go on vacation, we eat too much, or we have other
Speaker:things come up. But realistically,
Speaker:you. You have to follow some type of pattern for a long
Speaker:period of time. And with investing
Speaker:or really the
Speaker:attitude stems, everything can be, I say with
Speaker:stoicism where. Or psychology. If you see a
Speaker:psychologist Or a therapist. They can also help you do
Speaker:that at work with somebody
Speaker:to really build some emotional
Speaker:intelligence across the board. I think I'm answering
Speaker:your question, but that's kind of.
Speaker:Those are, uh, those are where I'd start as the emotional
Speaker:intelligence is based on
Speaker:my stoicism and psychology that I've
Speaker:studied for that.
Speaker:>> Anthony Weaver: So I'm gonna do a quick round of questions
Speaker:because obviously it's a financial show.
Speaker:Um, and I know we've been dabbling into it, uh, because
Speaker:I want to go to the third segment and then the final four.
Speaker:>> William R. Young: Okay.
Speaker:>> Anthony Weaver: Yeah, I just wanted to do a rapid fire, if you don't
Speaker:mind.
Speaker:>> William R. Young: It's great. I love it.
Speaker:>> Anthony Weaver: Okay, so, um, talk about the sandwich
Speaker:generation. What are the top three
Speaker:questions that, uh, somebody should have a
Speaker:conversation with that child?
Speaker:>> William R. Young: I think
Speaker:when right now there's a lot of challenges for
Speaker:people for trying to buy a house.
Speaker:They seem expensive. You're seeing people
Speaker:stuck longer with their parents and stuff like
Speaker:that. Think you want to have a, uh,
Speaker:financial education. You want parents.
Speaker:And hopefully the parents have some financial education
Speaker:because when, you know, when they grew up, they could
Speaker:buy a house easily. They could buy a
Speaker:car. Everything was affordable, and
Speaker:it's not affordable. So you. We have m.
Speaker:Much bigger hurdles
Speaker:now, and I think trying to get people
Speaker:in the right frame of mind saying, you need to
Speaker:save no matter what. I know it's going to
Speaker:be harder to do certain things, but, uh, with the right
Speaker:attitude, you could be in a better position
Speaker:than if you have the wrong attitude and start saving
Speaker:earlier. I think that's very important. I was able to get my
Speaker:house right before the
Speaker:things went up and I realized I was lucky with
Speaker:that. So I think kind of
Speaker:just starting, save your money,
Speaker:pay yourself 10% right off
Speaker:the bat is where it would be. And don't be discouraged by
Speaker:a lot of the challenges we're facing. Because I hear a lot of people
Speaker:say, I can't afford a house. They're so expensive. The mortgages
Speaker:and homeownership is, is fun
Speaker:to own something, to, to put your head
Speaker:down. So that's the first thing I always start at
Speaker:with, with that is because that's a big goal for almost
Speaker:everybody. Homeownership at some point.
Speaker:>> Anthony Weaver: Yeah.
Speaker:>> William R. Young: Uh, and that's where a lot of wealth is tied up. And it seems unattainable
Speaker:for a lot of people sometimes now.
Speaker:>> Anthony Weaver: Yeah. Um, but going back to
Speaker:those sacrifices, like, yes. Are you willing to
Speaker:sacrifice?
Speaker:>> William R. Young: Yes, it is. And then of
Speaker:course, one of the other things is parents need to
Speaker:Talk about the retirement accounts. Even if you're
Speaker:working, if parents can help you, you can
Speaker:do Roth IRAs. Roth IRAs
Speaker:are, uh, a great way where you say, look, we're going to put some money
Speaker:here. And this is where you don't want to
Speaker:gamble with this type of money. You want to use
Speaker:index funds. You can use technology,
Speaker:obviously, or, or whatever you like, and you
Speaker:can add some stocks, but you want to have them talk to you
Speaker:like, these are long term. And if you put
Speaker:this Money in at 18 or 19, you
Speaker:know, I know you may be older, but I'm just saying wherever
Speaker:you are in this, this pitch, you
Speaker:can get money out of the Roth after five years. You can take
Speaker:the principal out without
Speaker:taxes. So I tell people, this
Speaker:seems really unattainable right now, but
Speaker:let's say we have the market, housing come
Speaker:down by. You've been putting money away for 10
Speaker:years. We, we could take out 50 grand
Speaker:without any taxes to put down on a house.
Speaker:And uh, granted, obviously I'd like your money to
Speaker:grow, but the house should
Speaker:grow too. And, and that's. So I think the
Speaker:financial education of retirement accounts and
Speaker:the right type of retirement account is very critical.
Speaker:And a lot of people don't really know about the Roth like
Speaker:that, but, you know, that is a great thing to
Speaker:do is you can take the principal out without any issues
Speaker:and still the, the gains still grow.
Speaker:So I think that's another critical piece for
Speaker:everybody because if you put it in a regular
Speaker:IRA and you take it out, you're hit with like 30%
Speaker:taxes, right? And that's, that's, you know, that's
Speaker:not good.
Speaker:Um, and then I
Speaker:think really one of the most important things,
Speaker:and I is really at that young
Speaker:age is trying to share with them a
Speaker:vision of broadening what they
Speaker:may do. I grew up in a rural
Speaker:community, but at the same time, every
Speaker:weekend I spent it at my grandmother's in, in the
Speaker:city. So I had like two different,
Speaker:very like one, I'm playing by myself. There's
Speaker:no, there's no street lights, there's dirt
Speaker:roads. I'm running around. I got a goat and a
Speaker:dog, and you know what I mean? And then I go to
Speaker:my grandmother's and if 20 kids
Speaker:out in the middle of the street were playing football, so I had a
Speaker:really weird balance to that. And
Speaker:regardless of that, and you
Speaker:have these different groups of people, you want to
Speaker:give them insight as to, uh, there's things wider
Speaker:than their short little vision. And especially in
Speaker:high school, as you Mentioned. Oh, that's all they
Speaker:know. And once you get out of high school and
Speaker:if you go to college or whatever, until you really
Speaker:start to. You want to push them to look at 10
Speaker:different things. Because I didn't know I wanted to be this.
Speaker:But I started to see it clearly when I turned 30. And
Speaker:then I started to get into it because originally I was like, uh,
Speaker:I'm into math, and. And I'm quiet.
Speaker:And, uh, obviously I'm not quiet now,
Speaker:but by. I naturally did it. But a
Speaker:lot of people need their parents to
Speaker:help them, and I think the parents also need that, too.
Speaker:So I think that. And then talking about not only widening
Speaker:your vision financially,
Speaker:emotionally, professionally, but that's
Speaker:also for your friends, because the friends you have,
Speaker:you're. I mean, high school is so small, you know,
Speaker:you remember it. You used to. You saw. What did you
Speaker:teach?
Speaker:>> Anthony Weaver: Um, I taught, um, elementary. So I
Speaker:did first grade, third grade, seventh and
Speaker:eighth.
Speaker:>> William R. Young: Okay. Okay. Oh, wow. So, yeah,
Speaker:it's, um.
Speaker:They have so much hope. You want those kids when they're
Speaker:that young, to keep that energy. If there's a fourth,
Speaker:I would say keep that joyful energy
Speaker:because you need it, and you're going to really
Speaker:need to have it as we get older. Because
Speaker:life may seem hard at 17 and 18. It can get really
Speaker:hard as you get older because you got a mortgage to pay or
Speaker:bills to pay and stuff like that. So I think
Speaker:talking to them about a vision and to
Speaker:be happy, I think would be a third thing that's very important.
Speaker:I. I share that with my nieces who are 17 now
Speaker:and are twins, and because they don't go outside
Speaker:as much and they're on their phones a lot more,
Speaker:it's just a different generation, you know?
Speaker:>> Anthony Weaver: Yeah.
Speaker:>> William R. Young: And, um, they talk through Snapchat rather than
Speaker:picking up the phone.
Speaker:>> Anthony Weaver: Yeah. I. I'm more of a texter.
Speaker:>> William R. Young: Uh, yeah.
Speaker:>> Anthony Weaver: Because I grew up in era where you didn't have
Speaker:many minutes. Um, so, you know, the
Speaker:teacher, you have more text than you have minutes. And I used to hate
Speaker:when people used to leave voice messages because it'll take away a minute or
Speaker:however long that message was. I'm sure you remember those
Speaker:days.
Speaker:>> William R. Young: Well, I may be a little older. I. I had a pager
Speaker:that had an 800 number so I could check the
Speaker:voicemail.
Speaker:>> Anthony Weaver: Right.
Speaker:>> William R. Young: But then I needed a quarter to call them.
Speaker:I'd be like, when we come up with codes in the pager so
Speaker:that they could do it. And so I remember that. I
Speaker:was like, wow, I'M cool. They can get me.
Speaker:>> Anthony Weaver: Right.
Speaker:>> William R. Young: But I do remember the minutes too. I'm like, don't call
Speaker:me on my phone unless it's important. And after
Speaker:59 seconds, I'm hanging up.
Speaker:People will never understand that.
Speaker:Uh, I'm sorry, right.
Speaker:>> Anthony Weaver: Those unlimited minutes after 7:00.
Speaker:>> William R. Young: Yeah, yeah. Right. So you'd be like, all right, can you just
Speaker:call me at 7? That is funny. That would
Speaker:have been a great time to have the power of no.
Speaker:>> Anthony Weaver: Yeah.
Speaker:>> William R. Young: You know what I mean?
Speaker:So you can do it. See, you could do it. We can all do
Speaker:it. Um, so, yeah,
Speaker:that, that is. I. We all have it for certain things. You're
Speaker:right. If we're waiting for a call,
Speaker:we'll. We'll not pick up the phone. We'll. We'll sit
Speaker:there. And I think that brings it back.
Speaker:I think maybe there's a fifth thing, the power of no teaching people.
Speaker:Be focused, but also keep your vision
Speaker:wide at certain times. And I think
Speaker:books are. Help you be
Speaker:inside the mind of other people
Speaker:and realize you're not alone in a world where
Speaker:oftentimes we feel alone because we're just seeing
Speaker:tiktoks or this and
Speaker:everybody's happy. Reading allows you to,
Speaker:to really be just
Speaker:engulfed in something. And, uh, so I'm a book
Speaker:reader. You, uh, know, and when I was young, it would have
Speaker:been the Bernstein bears or comic books,
Speaker:but now I read actual things. And it, Once you get good
Speaker:at reading, you actually start to like
Speaker:it more. And I think that's important. So
Speaker:that's a great question. There are some things we really should
Speaker:spread the word on what parents need to explain,
Speaker:and also for us to learn in that
Speaker:habit as well too.
Speaker:>> Anthony Weaver: Yeah. Um, and that's
Speaker:why I like the. This is the reason why I made the shift
Speaker:for my audience to be more in the Sandwich generation is
Speaker:because it's a, it's a flow. It's not like, hey, you're
Speaker:set like a Gen Z or Gen X, whatever they want to call
Speaker:these generations, but the
Speaker:Sandwich generation, everybody's going to have a kid at some point.
Speaker:If they don't, it's okay. But obviously you have
Speaker:parents that either you might be their caretaker for,
Speaker:or it may not be your biological parents, but the people
Speaker:who brought you up that you're going to be taken care of
Speaker:eventually. So how can you actually
Speaker:thrive in that environment and still find
Speaker:yourself without losing yourself, uh, through that
Speaker:emotional turmoil? Um, or
Speaker:like you say, the wave.
Speaker:>> William R. Young: Powerful.
Speaker:>> Anthony Weaver: Yeah. So, um, and that's the reason why I
Speaker:Like, having these conversations with different people, because it broadens my
Speaker:scope. And this reason why I like the podcast is
Speaker:it's a cheat code for me to get more information.
Speaker:>> William R. Young: It is. And you're. You're pulling out things for
Speaker:me that I have never talked about or shared.
Speaker:But I think one of the most important things in these
Speaker:conversations is that be vulnerable,
Speaker:because we. We're in this world together.
Speaker:We're brothers and sisters, all of us. And once
Speaker:we have the right attitude and you open up, I'm here
Speaker:for you. And we often.
Speaker:We often try to fit into a tribe, but the
Speaker:more broadening of your,
Speaker:you know, your world and being able to communicate like
Speaker:this over the phone allows us to see. There are so many
Speaker:people like us. We just didn't necessarily
Speaker:see them, because when we're walking down the street, we were
Speaker:the goth person or we were the skateboarder. Before it was
Speaker:cool, I was skateboarding when it was a crime. You know what I
Speaker:mean? We were getting chased everywhere.
Speaker:Um, now it's like, oh, of course they're skateboarding, and it's a big
Speaker:deal. Um, but
Speaker:it is important to have that perspective. That is
Speaker:very important.
Speaker:>> Anthony Weaver: Yeah. So as we go through the.
Speaker:The third segment here, which is talking about the futures,
Speaker:um, what areas are you focusing on to
Speaker:improve your own life or career?
Speaker:>> William R. Young: My goal right now to improve
Speaker:is. Is writing a
Speaker:book. I want to put the things that have.
Speaker:That have taken my life and have
Speaker:used to transform
Speaker:me. And I think I hear this, and I don't know
Speaker:where I heard it from, but don't have a transactional life. Have a
Speaker:transformative life. And we have
Speaker:a chance to grow. And you see that like.
Speaker:Like flowers and palm. Palm trees continue to grow and
Speaker:get taller and taller and bigger and stronger. That's how we
Speaker:should be in life. And with
Speaker:the book, it's forced me to put down
Speaker:a lot of my words and then reorganize it.
Speaker:I. I have, like, a mental palace where I'm
Speaker:like, okay, let me organize this. And I write everything down.
Speaker:And, uh, I suggest this to everybody. I would use
Speaker:Evernote or the notes and say, Apple notes.
Speaker:And I've been doing that for about 20 years and writing things down,
Speaker:and I could see my growth. And that's one of the things
Speaker:I like to do, is go back and look
Speaker:at what I wrote. I'm like, oh, my God, did I write that? I
Speaker:must have written that in crayon. I must. Because
Speaker:I look at myself and say, God,
Speaker:how did I communicate? And I Think that's important because
Speaker:now I'm saying I can communicate better, and I've
Speaker:made growth, and maybe I'm not very good, but
Speaker:I'm vulnerable, and I share my vulnerabilities because I think
Speaker:it's important to
Speaker:continue to work on yourself, even if it's slow.
Speaker:When you climb upstairs and you go walk up, um,
Speaker:you know, a mountain, it's slow. You don't
Speaker:run up a mountain because you trip and fall, and then you wind,
Speaker:um, up. So life is like that. You're just climbing it slow.
Speaker:And with this book right now, it's. It's forcing me
Speaker:to really look at all the different things
Speaker:that have been in my mind, but then put them in a seamless
Speaker:order. And it is challenging. It really is,
Speaker:and it's fun. And I remember yesterday,
Speaker:I'm going through it with the person,
Speaker:and, like, we've had three drafts already on the
Speaker:outline, and it's hard.
Speaker:How do you fit things? But that is
Speaker:forcing me to grow.
Speaker:And do I have to do it? No. Do I want to do
Speaker:it? Uh, I'm not even sure sometimes when I'm doing
Speaker:it. But here's the one thing that I do know
Speaker:for a fact on this. When you're
Speaker:doing something, it may not be fun, but
Speaker:when you're done, accomplishment feels
Speaker:incredible. That's the
Speaker:trick. So I say to myself,
Speaker:I can get through this next hour and a half being on
Speaker:here looking like a fool because I don't know how this stuff
Speaker:works. And then I keep writing back and forth,
Speaker:and, um, I feel like I learned
Speaker:something. And yesterday, after I was done, I was like, oh, my
Speaker:head hurts. But I felt
Speaker:great because it was. We accomplished a much
Speaker:better version of the outline. And then we're going to have a fourth.
Speaker:But I actually felt like the first one was like, oh, my.
Speaker:Who wrote that? Was that even me? And. But.
Speaker:And I think I'm very. Being very vulnerable in it. So
Speaker:that's what I'm doing now because I want to express my difficult
Speaker:journey. Being on the spectrum, not being able to read
Speaker:people, um, not being vulnerable,
Speaker:not being. Not understanding emotions. You're really
Speaker:bringing out a lot of emotions in. And I think
Speaker:that's important because we need
Speaker:to have people give us feedback on our emotions, how we're
Speaker:feeling, and also understand how they're feeling. So at
Speaker:this stage, I'm always pushing myself to grow,
Speaker:and I'm always adding books outside of my
Speaker:normal study. I'm doing
Speaker:the, uh, History of the Bible by John Barton,
Speaker:which is kind of neat. And it's just the.
Speaker:Even though. Whether I'm not religious, but
Speaker:I like to learn about things and how things occurred.
Speaker:I'm doing the history by Howard Zinn
Speaker:of America, which doesn't teach you
Speaker:the stuff you hear in school. It teaches you the actual
Speaker:atrocities that happened. And is
Speaker:it pleasant? Not necessarily.
Speaker:But again, I'm listening to it because I want to have different
Speaker:perspectives of how things occurred. But, um, I will
Speaker:say one of the best books that I've ever listened to in my
Speaker:life is why Nations Fail,
Speaker:I think. And they won a Nobel laureate
Speaker:last year after it had been out for 12
Speaker:years, because they tell the real truth
Speaker:on what makes nations great. And so these are the
Speaker:types of things that I continue to work on
Speaker:and push myself so I can share these stories because I,
Speaker:I do believe we have to go
Speaker:through pain oftentimes, unfortunately, before
Speaker:we get to the, the, the
Speaker:pleasure, so to speak. It's just the way things are
Speaker:in life.
Speaker:>> Anthony Weaver: But it's going back to. Like you said, you have to have those vulnerable
Speaker:moments to kind of build that resilience
Speaker:because you put it out there. And if you would have kept
Speaker:it to yourself, how can you
Speaker:build that resilience and build your structure if
Speaker:you never put it out there in the first place? And so
Speaker:I, uh, commend you for, you know,
Speaker:putting yourself out there, and I just can't
Speaker:wait to read it. Whenever you fully find
Speaker:it, finalize the, the end products, because I'm sure
Speaker:it's going to be the bamboo of
Speaker:the, uh, of the book community.
Speaker:>> William R. Young: Well, I thank you for that and, and
Speaker:vulnerability. Once you share like, I made
Speaker:mistakes. I had negative bank accounts. I,
Speaker:I didn't, you know, but I worked on myself.
Speaker:And people go like, they appreciate that and they share
Speaker:their vulnerabilities. And that's where you get a real emotional
Speaker:connection. We've all made mistakes, but a lot of times
Speaker:we try to hide them as if we're perfect. That's why
Speaker:I keep this right here on me. If no
Speaker:one can see it, it's a blue morpho
Speaker:butterfly. Blue is not their
Speaker:actual color. Light gets trapped in there off the
Speaker:bones and refracts. So you see
Speaker:beautiful blue on the outside, but this is the inside of
Speaker:it.
Speaker:>> Anthony Weaver: Nice.
Speaker:>> William R. Young: And that's what people see. So I tell people, and
Speaker:this does catch people's eye, and
Speaker:I explain that to them.
Speaker:And I wound up having a great conversation coming back from
Speaker:Puerto Rico with a woman next to me who was from
Speaker:Arkansas. And
Speaker:she, she, her and her I guess she was chasing
Speaker:out her soon to be daughter in law to Puerto Rico for like
Speaker:a vacation with that.
Speaker:And she just opened up to me and shared so many things
Speaker:because I shared that and how, you know,
Speaker:I had struggles and reading people and doing things.
Speaker:And it was an uncomfortable
Speaker:four hour wait on the tarmac,
Speaker:but we really talked and, uh, we
Speaker:both left. Like, wow, we made a
Speaker:positive connection. We'll never see each other again.
Speaker:But she shared some things with me that I can now
Speaker:share with my clients about how
Speaker:her father
Speaker:had a, she had
Speaker:a stepmother that she didn't like essentially, and they didn't do
Speaker:the estate planning, uh, and she
Speaker:wouldn't do it. And she made a mess of everyone's life. And she's like,
Speaker:she hated me from the grave. That's why she did it on purpose.
Speaker:So that reminded me so much of why we have
Speaker:to plan. Because planning isn't
Speaker:always just about you either. It's about the people you
Speaker:love and that we got to
Speaker:the heart of the story. If you love somebody, you do the
Speaker:right thing. And so that's why
Speaker:planning is so. And I have these comments. I'm like, I got to get your
Speaker:estate plan. You care about these people, then you need
Speaker:to do it. And that's the
Speaker:vulnerable nature of having these conversations. So I wound
Speaker:up having a great conversation. I'll never see you again. We opened up
Speaker:to each other and, uh, I felt
Speaker:like I had growth out of
Speaker:that. Just sitting on a plane in a horrible
Speaker:situation and yeah, that was another layer of
Speaker:bamboo. Now I'm 21ft.
Speaker:We're growing fast.
Speaker:>> Anthony Weaver: Yes, sir.
Speaker:All right, so is there anything that you want to leave the
Speaker:audience with before we go to the final four questions?
Speaker:>> William R. Young: I want people to really take time to
Speaker:sit down and, and get some type of
Speaker:journal on their phone. I know it's easier. You can do
Speaker:paper or journal and start to write down your thoughts.
Speaker:Once you start to do that every day and develop that habit, you'll
Speaker:start to actually just come up with things. And oftentimes
Speaker:you can ask these journals today to come up with
Speaker:question to ask you that. That is the first
Speaker:step in changing everything. That's
Speaker:mental health, financial health,
Speaker:physical health are all tied together.
Speaker:They're all tied together. You can't. You might be
Speaker:running well and doing stuff like that, but if you don't have mental health
Speaker:and financial health, it will weigh on your physical
Speaker:health. And that's. I think the number one thing is
Speaker:journaling. And it'll say what is,
Speaker:what was Your favorite part about college. And now I'm
Speaker:having to think about it. It didn't ask me what college I went
Speaker:to. It was a question. I'm thinking, God, there were
Speaker:so many. And now, um. You know what I mean? That's a better
Speaker:question.
Speaker:>> Anthony Weaver: Yeah.
Speaker:>> William R. Young: What's the best part of your neighborhood? I didn't ask you where you
Speaker:lived. You know, what transformed you so? It's these
Speaker:little tiny questions that get you to think. So that's. That's what
Speaker:I'd leave it. Because it all stems. Once you change
Speaker:your attitude, your attitude changes. You
Speaker:will see the world with the lights on.
Speaker:And that's important.
Speaker:>> Anthony Weaver: Right?
Speaker:>> William R. Young: And we all battle darkness
Speaker:every day. Every day, yes.
Speaker:>> Anthony Weaver: Um, so you ready for the final Four?
Speaker:>> William R. Young: I am. Let's do it.
Speaker:>> Anthony Weaver: Alrighty.
Speaker:First question. What does wealth mean to
Speaker:you?
Speaker:>> William R. Young: Wealth, to me, that definition
Speaker:is important. And Socrates talks about that, because we all
Speaker:have different definitions for. For words. Wealth
Speaker:to me means I'm able to
Speaker:not have to have income from anybody else and live
Speaker:a life where my assets
Speaker:maintain my life. I can do my charitable work.
Speaker:I rescued orangutans in Borneo. I can
Speaker:donate to them. I can. I
Speaker:was going to go to Laos this year to help the
Speaker:elephants. Um, so the wealth to me
Speaker:allows me to do things and travel to help
Speaker:animal charities. And then also I went to Honduras to
Speaker:help kids who were orphaned from the drug wars and
Speaker:AIDS there. That's the type. Wealth gives me the
Speaker:financial freedom to do the things that I want to
Speaker:do because I'm more than work and I believe we
Speaker:need to give back. And. And that gives us
Speaker:the power and the money. There's, uh, a. A
Speaker:thing that I. That is crazy,
Speaker:but George Clooney started a,
Speaker:uh. What is it? Alcohol company. A
Speaker:tequila company?
Speaker:>> Anthony Weaver: I think so, yeah.
Speaker:>> William R. Young: And the reason I'm telling you this is
Speaker:he sold it for a billion dollars. And his wife
Speaker:is a human rights lawyer. And they were always
Speaker:running around trying to get donations
Speaker:to get help. And he said, once I got
Speaker:that billion, uh, I don't ask for help anymore.
Speaker:I can do the things that I want. And it's
Speaker:unlimited money. That's what wealth is. It's being to do the
Speaker:things you want in life without having someone
Speaker:else determine what you can
Speaker:and can't do. You don't need a billion dollars
Speaker:because you're not probably running around saving people's lives
Speaker:and all these other countries like she does. But
Speaker:that's what wealth is to me, is complete independence
Speaker:to live the life you want and help the people you care
Speaker:about.
Speaker:>> Anthony Weaver: Yep. Um, just so
Speaker:to kind of, like, fact check, I guess, to make
Speaker:sure we're getting everything together. Uh, I just googled it right quick.
Speaker:It is, uh, he co founded a tequila
Speaker:company, Casamigos. That's what.
Speaker:>> William R. Young: Yes.
Speaker:>> Anthony Weaver: And, um, sold it for a billion dollars in 2017.
Speaker:Man, that is. Wow.
Speaker:>> William R. Young: And so, yeah, now he didn't
Speaker:have someone give him an agenda to his wife
Speaker:saying, you can help those people, but you can't help
Speaker:these people. Now he has the independence to
Speaker:not have donors tell him. And that's what I mean. For ourselves. If I
Speaker:want to help somebody, I'm not taking donations from
Speaker:somebody. I can do it myself. So I can set up stuff like
Speaker:that, because donors can say, I don't want
Speaker:you to do this. That's what it means to me, where
Speaker:you don't have someone's control over you.
Speaker:>> Anthony Weaver: I like that.
Speaker:>> William R. Young: Um, Casamigos. Yes. A billion. Isn't that crazy?
Speaker:>> Anthony Weaver: That's is crazy. I was like, I don't even drink Casamigos. I
Speaker:heard about it, but I don't drink it. Interesting.
Speaker:>> William R. Young: Not a bad payday. So that's why he can do
Speaker:whatever he wants now. And that was one of the problems he mentioned,
Speaker:is we do these dinners, and they're like, but I don't want you doing this. And.
Speaker:And, you know, that's like, my job is to help people.
Speaker:And to me, that resonates with me. I don't need $1
Speaker:billion, but I do need the
Speaker:financial independence. And that's what wealth means to
Speaker:me, is living the life I want to
Speaker:live. And I'm not somebody that spends a lot of money.
Speaker:I've stayed at hostels with surfers, and when I was
Speaker:in Borneo, I was sleeping on people's
Speaker:porches. You know, I'm 50. I was 51 at the time.
Speaker:Sleeping on people's porches. It's 125 degrees
Speaker:out. That. That's not wealth to me. Wealth to
Speaker:me was being in the journey and knowing, you know, I could
Speaker:afford it and I could make donations and stuff like
Speaker:that. It was a hot vacation.
Speaker:>> Anthony Weaver: Uh, number two, what was your worst
Speaker:money mistake?
Speaker:>> William R. Young: Well, that's an easy one. Um, in
Speaker:2008, I was on top of the
Speaker:world. I just. I was top in
Speaker:sales at this company with my. With my
Speaker:business partner, and
Speaker:I didn't understand
Speaker:irrational exuberance. I was a young
Speaker:man. My account went up, like,
Speaker:164 in one year.
Speaker:>> Anthony Weaver: Wow.
Speaker:>> William R. Young: Crazy. But I didn't really know what I was doing. And
Speaker:that's why I want to share this and I tell people this
Speaker:and that's why I'm more cautious.
Speaker:In one week without really
Speaker:understanding it. When that, um, Lehman
Speaker:Brothers hedge fund blew up,
Speaker:they had to liquidate everything. And that's what was happening
Speaker:yesterday. There was margin
Speaker:calls on, um, big companies. And
Speaker:then it's like a black hole. It just sucks
Speaker:everything in. And I lost like 80%
Speaker:of my wealth in a week because
Speaker:I didn't understand it, that it could just
Speaker:happen. And it, that's what, that's what these margin.
Speaker:So the markets, when they do that, it's. How would
Speaker:I have known that? Now I share that story. It's like, this is why you
Speaker:need to have capital on the side. This is why you need to do certain
Speaker:things, because you can have. Now
Speaker:granted, you know, I still, maybe I was up 8%
Speaker:after that, but I was, I kind of got a windfall
Speaker:and I didn't understand what was happening
Speaker:globally. Now I understand all that. And that
Speaker:was, I mean, that was painful to
Speaker:lose six figures in five
Speaker:days. And I didn't understand
Speaker:it. It took, you know, it took years to make and then
Speaker:was gone in five days.
Speaker:>> Anthony Weaver: M& M. I'm sure a lot of people are feeling that right
Speaker:now, the way. How things going.
Speaker:>> William R. Young: Yes. And you know, when
Speaker:that. Dave Portnoy, I don't know what he owns, but I'm
Speaker:sure he probably takes very aggressive stocks,
Speaker:have certain stocks down 30, 40,
Speaker:50% in just a matter of a week or two.
Speaker:And that's where you're not managing your
Speaker:risk and understanding what you're doing.
Speaker:If, like, I have a lot of people with 30, 35%
Speaker:in cash on the side, even my sister, like, I put
Speaker:25% of her money in cash and,
Speaker:and I'm not recommending this. I got to be crystal
Speaker:clear and 25% in Berkshire Hathaway, which is
Speaker:essentially a large cash position.
Speaker:And like, yeah, a bunch of our stocks went down
Speaker:like 40%, but we have all this cash and
Speaker:to me, she can go shopping. Uh, we,
Speaker:I'll take her shopping and say, what do we want to buy at a
Speaker:discount? Because you're getting these margin
Speaker:calls on a company and they have to liquidate, so things
Speaker:just fall down so quick, they'll rebound
Speaker:back, but I want to be able to buy them
Speaker:when those things happen. So I don't time the
Speaker:market. I look for the opportunity.
Speaker:And then when it's opportunity happens,
Speaker:I get the right board and I get
Speaker:the right, you know, and I swim out and paddle and I get on the right
Speaker:waves because I waited patiently for that. That's
Speaker:the mistake people often make is they're always in a rush
Speaker:because they have this group think or
Speaker:this. This urge to try to make the money back
Speaker:quickly. Don't do that. That is a powerful
Speaker:thing. And I didn't understand. So I, uh, you know, I was there, like, how
Speaker:do I make this back? And there was no way to make it back
Speaker:because Lehman Brothers went under and then Bear
Speaker:Stearns. And like, if you remember, like, the world
Speaker:was going under. Literally at that time. They
Speaker:were meeting, saying, uh, we had Wells
Speaker:Fargo, um, by
Speaker:Washington Mutual, which was the fourth largest bank.
Speaker:So I got the Wachovia, which was the third largest bank, went
Speaker:under, like. Like, you're talking literally the
Speaker:biggest banks in the world. And they just disappeared overnight.
Speaker:So, again, that was when I got crushed.
Speaker:Now, I'm very good at what I do, and I try to share people
Speaker:that you can lose it all very quickly right now. And I
Speaker:would be very, very cautious about what you
Speaker:do.
Speaker:>> Anthony Weaver: Okay.
Speaker:>> William R. Young: You don't want to start over, so.
Speaker:>> Anthony Weaver: Well, yeah. To make sure you put some of it in cash.
Speaker:Um, okay, so
Speaker:question three. Is there a book that inspired your
Speaker:journey or changed your perspective?
Speaker:>> William R. Young: There is a book written by
Speaker:a wonderful, wonderful writer.
Speaker:It's called the Undoing Project. That
Speaker:was the first time in a book
Speaker:I felt like the person he was
Speaker:writing about. I believe it's Michael Lewis,
Speaker:very famous authority. And I've read
Speaker:that book nine times.
Speaker:>> Anthony Weaver: Wow.
Speaker:>> William R. Young: And there was a point where they were
Speaker:talking of, uh, it's.
Speaker:It's crazy. It talks about Daniel
Speaker:Kahneman. He was born in Israel. His dad moved over
Speaker:to France to be the top
Speaker:scientist, top chemist
Speaker:for a major,
Speaker:um, beauty company. And it talks about
Speaker:that dichotomy of people where
Speaker:his dad's best friend and the owner of the company was a
Speaker:Nazi, but then his dad was a Jew. It.
Speaker:But. And he. And
Speaker:even though he was a Nazi sympathizer, he
Speaker:saved Daniel Kahneman's father from
Speaker:Auschwitz because he was a friend of
Speaker:him. So what? That's when people say, I, oh,
Speaker:I have a black friend, or I have an Asian friend, whatever. It
Speaker:doesn't mean you're not doing racial stereotypes and stuff.
Speaker:Like, it just. He had a connection to him
Speaker:and he saved his life, even though he was okay with everybody
Speaker:else. And then, you know, talks about
Speaker:Kahneman going through all this stuff, and then to go to
Speaker:Israel at, uh, 20 years of age,
Speaker:become the lead psychologist,
Speaker:and he created A system that everybody uses
Speaker:today for the military psychology. But
Speaker:the journey of Daniel story in that
Speaker:resonated with me. Like he, he said, I feel different.
Speaker:I don't feel like other kids. And that's how I
Speaker:felt. And when I joined this social EDS group,
Speaker:I met other people that felt that way.
Speaker:And that just tells you we're not alone. We just
Speaker:haven't found our tribe yet. And that
Speaker:allowed me to keep searching for my tribe, which
Speaker:the social edge group with Blake Eastman. He's put this
Speaker:together and uh, we have these three way calls or two way
Speaker:calls, and you start to go, oh my lord, we're
Speaker:so similar. But we would never connect with each
Speaker:other. So that book led me
Speaker:to this point where Daniel
Speaker:Kahneman wasn't very talkative. His partner
Speaker:Amos Tversky was. But after about 20
Speaker:years, he became talkative and he became.
Speaker:And that's how I felt. So like deep
Speaker:inside, like if I had an idol,
Speaker:he. He brought out the best in me
Speaker:because he allowed me heuristic spices,
Speaker:fallacies, effects and illusions. And he created the
Speaker:actual. He created
Speaker:behavioral economics in behavioral
Speaker:finance. He is the founder of that. And so that
Speaker:resonates with me. And that has changed my life and made me
Speaker:search for all of the emotions that were
Speaker:hidden because of being who I
Speaker:was.
Speaker:>> Anthony Weaver: I mean, to read that book.
Speaker:>> William R. Young: Oh, it is. When, when you read
Speaker:it, Daniel Kahneman essentially is the one that created
Speaker:Moneyball and all that, uh, everything's based off of him. When you read
Speaker:that, you will say, I can't
Speaker:even believe it. You, you will be
Speaker:stunned. And there was a point where Daniel
Speaker:Kahneman was picked up by a Nazi soldier and
Speaker:he was 10 years old. And he goes, he thought he
Speaker:was dead. He had the mark on him that the guy knew he was a
Speaker:Nazi or knew he was Jewish and
Speaker:he thought he was dead. Picks him up, gives him
Speaker:candy, gives him money, and then shows a
Speaker:picture to Daniel
Speaker:of his son. And Daniel
Speaker:looked like his son. And because
Speaker:he looked like his son, he let him go.
Speaker:>> Anthony Weaver: Wow.
Speaker:>> William R. Young: And that's where he was like,
Speaker:that's confusing because he's killing all these
Speaker:people. What happened to his. But because
Speaker:he looked like his son, he gave him candy and money.
Speaker:And he's like, it just made me so
Speaker:confused. And that's how we all are.
Speaker:We're all confused and complex. And once you
Speaker:start to realize that, you can dig deeper into yourself.
Speaker:Books are important and you know, why
Speaker:nations fail. In the Undoing Project are two of the most powerful
Speaker:books because they're Basically, they're
Speaker:the. The seeds of the plants that grow in our
Speaker:mind. And then, like.
Speaker:>> Anthony Weaver: I love it.
Speaker:>> William R. Young: Yeah, no, I love it, too, because, you know, you're right.
Speaker:It. Because you can envision the plants, your mind
Speaker:growing, and that's. That's what's happening.
Speaker:>> Anthony Weaver: Yeah.
Speaker:Number four.
Speaker:>> William R. Young: Okay.
Speaker:>> Anthony Weaver: What is your favorite dish to make?
Speaker:>> William R. Young: I'm not a huge cooker. Um,
Speaker:but when I do, I eat salads,
Speaker:I. I pretty much. I cook
Speaker:chicken or salmon,
Speaker:and I put it on salad, and
Speaker:I always get the romaine. I put some
Speaker:of the Romano cheese and croutons,
Speaker:and believe it or not, I eat it plain. Because
Speaker:if you cook the chicken, I know everyone thinks I'm
Speaker:crazy.
Speaker:>> Anthony Weaver: Okay.
Speaker:>> William R. Young: But when the salmon's cooked right, my stepfather does this
Speaker:for me all the time. He cooks for me when I come over, and he's going to do
Speaker:it today, but he does it for me. And I say, no
Speaker:dressing. Because the. The way if you cook things right
Speaker:and you put some seasoning on the salmon, it drips
Speaker:on everything, and it adds moisture. And then you're actually tasting the
Speaker:salmon in the salad. So that's
Speaker:actually a salmon salad is my favorite. That's
Speaker:absolute, like, salmon on just kind of plain stuff with a little
Speaker:cheese, a little Romano. Because if you don't put dressing on it, you
Speaker:actually taste the food. And salmon
Speaker:cooked well, or chicken cooked well, but not dry
Speaker:chicken, but juicy. It's
Speaker:flavorful, and you never taste it with the
Speaker:dressing. And when you're sitting there eating it and it's kind of the. The
Speaker:oils from it are all in it. You're getting oil in your
Speaker:salad. You're just getting it from the salmon. And
Speaker:salmon is just a phenomenal, phenomenal.
Speaker:So that's what I look forward to every week. And he makes it for me. And I.
Speaker:I get this giant plate, and I feel like a king. I'm like,
Speaker:thank you so much. I feel like I'm
Speaker:king.
Speaker:>> Anthony Weaver: Right.
Speaker:>> William R. Young: Um, that. That's my favorite dish, the salmon
Speaker:salad.
Speaker:>> Anthony Weaver: I like that.
Speaker:Well, this is the last question of the show. Um,
Speaker:and I, um, mean, I feel like I could talk to you for hours
Speaker:here, um, even though it's already been like,
Speaker:an hour and a half. But it's okay, though.
Speaker:Um, which is where could people find
Speaker:out more about you?
Speaker:>> William R. Young: You have to Google me. I'm not technically allowed to say.
Speaker:The firm I. I'm affiliated with. I'm Will
Speaker:R. Young. Um, if you want,
Speaker:I do financial planning. I've been in this business
Speaker:for 21 years. It's personal with
Speaker:me or my team. If you work with me or someone
Speaker:on my team, you have a personal relationship with
Speaker:someone who cares about you. We become integrated with
Speaker:your family. You know, I've seen kids
Speaker:grow up, get to adulthood and help them.
Speaker:That is one of the greatest things is being connected with
Speaker:people for 20 years and seeing their kids grow up and
Speaker:helping their kids and having
Speaker:that relationship. It's not transactional.
Speaker:I'm fee based advisor and they know that
Speaker:and we're growing together and if
Speaker:just google me well our young
Speaker:or duck duck go or chat gbt it'll pull
Speaker:me up. And the number one thing I want to do with
Speaker:everybody is come up with a financial plan. I want to
Speaker:figure out your goals.
Speaker:>> Anthony Weaver: Goals.
Speaker:>> William R. Young: Write your goals so you have a vision and it's okay to
Speaker:change it. And especially if you had it. One of the
Speaker:mistakes in that when you're looking for me is I'm
Speaker:going to make sure that you never feel
Speaker:embarrassed by whatever your goals are and share
Speaker:those goals and you know, so look for me.
Speaker:You can find me quite easily. I'll pull up. I got some
Speaker:press releases coming out on on behavioral
Speaker:psychology and finance and my websites. Will
Speaker:will r young.com awesome.
Speaker:>> Anthony Weaver: Uh, thank you. Well, thank you so
Speaker:much for your time. This has been a pleasure. And
Speaker:the uh, person that's listening to this, if you actually found
Speaker:this important and found
Speaker:anything that you feel as though
Speaker:has been an impact to your life, I want you to go ahead on and
Speaker:subscribe to the show if you're new here. Um, and if
Speaker:you're not new here, you found this information viable to
Speaker:somebody else in their journey and just don't know where to
Speaker:go. I think this will be a great episode to start
Speaker:them off with so that they can figure out their
Speaker:lives, figure out themselves while they in a place of darkness with
Speaker:their finances right now. So thank you so much
Speaker:for listening and you all have a good day.
Speaker:>> William R. Young: Thank you.
