Brayden

Yeah, so I actually thank Charlie Kirk so much for what he does. As a student, I watch him on Hours on End each day, and I actually started a chapter at my school. And so I've been teaching everybody about just politics and how the electoral college works. And shout out to Sasha, my field rep, for helping us. And all your guys' donations go back to us, the high schoolers.

We get snacks to give to the students and encourage them to come. We got a big ball to have them sign called a Freedom Ball. It was so cool. And so I just want to thank Charlie for all he does. And I had a question for him. Charlie, we got one question for you.

So for somebody like me who wants to get into politics, and I want to be a constitutional attorney, so I want to go to college and go to political science.

Hillsdale College. And then one more thing. For somebody like me who wants to get into politics, how would I be able to work with you one-on-one and become like your apprentice in a way?

I knew that already. I knew that already.

I'm kind of in a pickle.

Okay. So I finished my first baby step. I have about a thousand or 1200 bucks sitting at home. Um, but I got a $15,000 loan out on my truck and I work a lot under the table, so I don't have income and I had to have my grandfather to sign onto my loan.

No, no. I work for a lot of farm properties. I make about $4,000 a month. Just cash? Yeah, yeah, exactly.

Yeah. Um, so he signed onto my loan and I just got news that they are pretty heavy in credit card debt and they need to take out a secondary mortgage on their house because they both are disabled and can't pay for it. Um, but they can't take it out because they're stuck on my loan for my car. So I kind of already know the answer. I just need clarification. Do I just sell the truck?

I got it for about $7,000 under market value, and I paid $9,000 into it, so I have about $14,000 I can get out of it. just to get something else. But I just kind of needed that clarification from that.

I got it for 20. I can get it for 27. And I, like I said, I only owe 15 on it.

Okay.

Hey, Dave. How are you?

Okay. So, I am 27 years old, and I just finished filing, well, I mean, just completed Chapter 7 bankruptcy, and I have No idea what to do next financially at all.

Yeah, so right now I'm just bartending. I'm still trying to find a job in my career field in the meantime.

I have a degree in chemistry, so I was working as a lab assistant, but it was a contract-based, and my contract wasn't renewed.

Um, I, I thought I just wanted to be a chemist. Um, not sure if that's still what I want to do at the moment.

They're still on the table. I'm still on the table. What's that income look like?

Um, usually like around 70, 80,000. Okay.

Okay.

Um, I had a car loan for about $35,000. Um, it was about $15,000 in credit card debt and my student loans, which is about 60.

Well, I actually was able to get them discharged, actually. Oh, they're a private student.

Yes.

Yeah.

That's correct.

It makes sense.

Yes. My question for you today is how do I convince my teenage son that day trading isn't really a good way to make money? Ooh.

Yeah. So he, as a kind of a background, he was talking to me recently about Cash App and the stocks in there. And so he actually has $42 in Cash App. And he He's trying to convince me how this is a great idea to make lots of money. And if he had hundreds of dollars, that could turn into thousands.

Right.

Good afternoon. Thank you so much for taking my call. Sure. I have a bit of a unique situation, a little different than others. I'm in my late 70s. I'm quasi-retired. And I've amassed an estate a little north of $30 million. Way to go, Ray. Come on now. We have no debt. We have no mortgages. We have no credit card debt. Everything is paid. And we have approximately...

17 million in cash and equities and the balance in property. My question is that we've set up a very, I think qualified estate plan with competent estate lawyers and the beneficiaries of my estate are approximately a third, a third, a third, my daughter and, um, um, my grandchildren and my wife, um, um,

The monies that are spinning off of our investments are more than my grandkids could legitimately or reasonably spend when they become of age. Right now the estate plan calls for up to $250,000 per annum for my grandchildren. By the way, my grandchildren are six and nine. Okay. So they're going to build a lot of wealth over the next several years.

Um, um, uh, when they're 21, they get a modest amount of money for five years and then at 25 they begin to kick in. My question, the simple one is $250,000 a year too much or too little given the fact that the, um, you know, the growth of the estate will be much larger than that.

I that is a good question I don't know that I can tell you if it's too much or too little I think that yeah I would return that with a question do you think it's too much or do you think it's too little or you think it's just right and why yeah throw it back at you well at this stage you know in our economy in our country I think it's just right but I'm concerned that there will be

the growth of the investment portfolio, you know, it'll be selfish not to let them grab more of it. And the whole reason for having an estate is to take care of the little ones, you know, in the future when you don't know what's going to happen.

Yes.

No, at 21, I think it was a little bit too much. So we're going to do five in a month between 21 and 25 and then 250 and then I'm after 25.

Yes. I mean, we don't have a stop on it. And then there one would assume that they were. By the way, just to comment on your last statement, we have clauses in our state plan. They have to be good people of good character, you know, drug and disease free and all of those. OK, we have a very competent trustee.

And, you know, with a wonderful moral compass and, you know, we're comfortable about that. But I'll be gone.

That is essentially correct.

there is no clauses in the estate plan in which they get to clean out the drawer. So I would assume that that legacy would continue on with their wills and estates to where they could leave it to the great-grandchildren, whom I will never know.

Yeah, I hope so. But we could well afford, just with the increases in the portfolio of the investment side of it, to give them more. I'm concerned to do that for all the reasons that you already know.

Well, the transition point is that following our conversation, you know, with you guys, you know, we'll certainly go back to council and we'll amend these things to make sure that we, you know, make that of monies available either in the gift side of it or increase in the 250 or include the unnamed biological grandchildren in the state. Our major concern was giving them too much too soon.

And our major concern was requiring him to be good citizens and, you know, no criminal record and all those things that you can think of, you know. So that's kind of what we're leaning on.

you know with insurance with insurance and property taxes and we want to have we want them to have cars that work and a good vacation and of course ivy ivy lake school if they choose to do that there's plenty of money there to do that well well done i mean i wish we had more time i want to know how he how he came up with this 30 million maybe another call i mean ray's my hero