Back to the Basics: Wealth Creation Part 1
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
21 min
2 speakers
4 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What personal context do the hosts share to introduce wealth creation?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show. Welcome back.
Ladies and gentlemen, you're listening to another edition of DIY Money.
DIY Money. Oh, Logan's in the house in the new studio.
Yeah, this is fire.
I love it. It's pretty nice.
It's pretty cool. I think you're going to look really good on this video. And I like the sweater. That's a new sweater for Christmas, isn't it?
It is a new sweater. Like from mom? Grand, no, mother-in-law. Mother-in-law? There's a mother-in-law sweater. Oh, very nice. Getting featured on the first new studio video.
Yeah, that's really nice.
I like it.
Quarter zip, very, very Christmassy. You know, gotta do what you gotta do. You got the flowing locks. I'm kind of getting jealous of you as you mature and age a little bit. I don't like how you're getting more attractive and I'm getting less attractive.
Don't you think he's fine? This man is scrump-dilly-icious.
I mean, you know, now I just need to start running 57 million miles a week, and then we'll be good to go.
There you go. How were your holidays and New Year? I mean, did you have to come back to work to relax a little bit?
Oh, yeah, for sure. Yeah, no, I needed a vacation for my vacation. So I—we did— you know, the whole shuffle. We went to the in-laws house, went to my folks house. We ran around 57 places in three days. And then we flew to Florida for two days. Yeah. How was that party? It was awesome. 80th birthday party for my grandmother. There was a hundred people there and it was the best 80th birthday possible because started at five. It was over by seven. People were like, let's go to bed. So it was, It was good. It was in and out and they had great food and the villages is an amazing place. It is awesome. Everything is like every five blocks they have where you can play pickleball or basketball or all these things.
I tell my wife that we're going to live there and she just rolls her eyes. I'm like, no, babe, we're going to 55 year old community. That's seven years. We're going to be there. And she's like, whatever, we're not going to be
You would do all the activities. You would be into it.
I'd be in the book clubs. I would write for the local paper. I mean, I'd do the pickleball, the golf, the whole nine yards.
It would be amazing. Man, they go hard in the villages.
Yeah, organize a stock investors club.
There's multiple stock investors clubs.
Oh, I'm sure there's tons of them. Absolutely. Well, I know, like me, you have struggled. If you're listening to this, you're longtime listeners, you're like, wow, they sound a little rough. We are both... recovering from some kind of death-like, flu-like syndrome. I don't know what the heck I got, but on New Year's Day, I went for a run with our crew, and by the time it was over, I was like, I don't feel so great. Had a little coffee afterwards, sort of our ritual, and I got home, hit the shower, and I didn't leave the couch for three days. I will tell you, and this is really interesting, that I have relearned, and I always relearn this when I'm ill, Health is the most valuable thing in your life.
It is the worst thing when you don't feel good.
It is the worst. You're vulnerable. You feel helpless. You can't just fix it. I'm a fixer. You're a fixer. We like to fix things. And so there were three or four really close friends because when that happens to me, I'm reminded of this because your grandmother's 80th birthday party. There's 100 people there. Your grandmother has lived a wonderful life. If 100 people showed up, it's not like begrudgingly, unless she's worth $100 million and everybody's trying to get in the will. Sure. You know, they have shown up out of respect and love for your grandmother. She did something right. I have been to funerals where there's seven people there. Four of them work for the funeral home, right? I have been to funerals where it's out the door.
And I'm not talking young people. When it's a young person, they're always out the door.
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Chapters
4 chapters
1
What personal context do the hosts share to introduce wealth creation?
0:02–8:30
2
Why do the hosts emphasize health and relationships before money?
8:30–17:04
3
How do the hosts define money as a tool for life goals?
17:04–18:44
4
What prior DIY Money steps lead into the wealth development phase?
18:44–21:35