← Money And Wealth With John Hope Bryant
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- [00:00]
iHeart Podcast Announcer
This is an iHeart podcast.
- [00:02]
Charlamagne Tha God
Guaranteed Human peace to the planet. Charlamagne. Tha Tha God here now look, y' all know I'm big on ownership. Owning your ideas, owning your business, owning your future. And that's exactly why I use Shopify. Shopify is the platform that lets you take an idea and actually build a real business out of it. What I love is how discoverable it makes everything. Shopify puts products everywhere people actually shop. Google, YouTube, TikTok, shop, the shop app. Even inside chat GPT you can literally go from conversation to checkout. That is the next level options in our changing world. And right now the Black Effect storefront is busy and Shopify is handling the heavy lifting. I am excited that Shopify is going to be at our Black Effect Podcast Festival this year in a major way and I will be there preaching this platform to all our small black owned businesses that partner with us. Shopify is helping drive the marketplace this year at our festival and their footprint and commitment to us and the community of black owned businesses is something I am proud to be a part of. Build your store, own your audience and create something that lasts. Start now@shopify.com breakfastclub.
- [01:03]
iHeart Podcast Announcer
Need a new couch? A bigger TV? A fridge that actually stays cold? At Aaron's you can get the brands you love with flexible payments that work for your budget. Approval is easy and delivery is free. Shop online@errands.com or visit your local store today. Approval not guaranteed. Restrictions apply. See store for details. Run a business and not thinking about podcasting? Think again. More Americans listen to podcasts than ad supported streaming music from Spotify and Panther Pandora. And as the number one podcaster, iHearts twice as large as the next two combined. Learn how podcasting can help your business. Call 844-844 I Heart therapy is fantastic, but once again it does not have a monopoly on healing. That's why I create the resources and that's why I create the community. Because I really just want you to have more access on the podcast. Cultivating her space Dr. Dahm and Terry Lomax create a space where black women can show up fully and be heard. And it's tough because we're suppressing our emotions and so many of us are like high achieving individuals. Listen to Cultivating her space on the iHeartRadio app, Apple Podcasts or wherever you get your podcasts.
- [02:04]
John Hope Bryant
Welcome to Money and Wealth with John Hope Bryant, a production of the Black Effect podcast network and iHeartrad. Hey hey, it's John o' Brien and this is the Money and Wealth podcast series season three on Black Effect Network on iHeartRadio. Thank you all for making this podcast one of the top 1% of all podcasts in the world on every continent and top 40 top 50 of entrepreneurship podcasts in the United States on Apple specifically. And the chance to really infect you with a new vision, a new mission of life changing information through our Ministry of Finance Quotation Ministry of Finance, our pulpit of hope. And today when I bring on guests once again, you know it's special and I am honored today to bring on, I believe my first NFL great. I had an NFL team owner, but I've never had I don't believe an NFL great great yet on the podcast Eric Armstead, who is amazing. Originally drafted by San Francisco 49ers in their first round draft pick in 2015, 17th overall. Signed by the Jacksonville Jaguars as a unrestricted free agent in 2024. Name the NFL's 2024 Walter Payton man of the Year. That is no small feat. He has saw action in 2025 and 17 games and started 11 of them. He has performed with the 49ers. I mean the performances there are too many to mention. Play college collegiate at Oregon for 2012-2014 and posted the career high nine tackles and one fumble recovery in the College Football Playoff National Championships against Ohio State in 2014 season. It goes on. It goes on. Recorded to 87 total tackles. This is college now. I mean 40, 41 of them solo. Like the dude is huge. I mean in envision and in body and an intelligence. 10 tackles of four loss, four for sacks, two fumble recoveries, two pass. You know he's a bad brother. Okay, let me tell you about the personal part of him that I love. He and his wife Melinda, who I met, have two daughters and a son. He's a son of Gus and Krista Armstead and he has one brother and one sister. His brother Armand Armstead played college football at USC right around the corner from where I grew up. In 2019, he and Melinda founded the Armstead Academic Project, supporting students from low income families in Sacramento, the California Bay Area and Jacksonville, Florida. He majored in General Social Science in Oregon. But I tell you, he's got a really, really solid business brain. We'll get into that in a minute. And attended Pleasant Grove High School in Elk Grove, California. Now I met this bad brother who you have to look up at when you meet him. By the way, he's the gentle giant. I met him through my dear friend Jed York, who's the Owner of The San Francisco 49ers now, and I met him at the super bowl this year in Jed suite. I'm saying all this to sort of layer on the obvious. There's not a lot of players Formerly with the 49ers, he's not there anymore, who get invited to the owner's suite the day of the biggest game of the year just to hang out. But Jed York made it very clear he didn't just like this man, he respected this man. He thought this man, as I do, is a good man and hit the impression that he gives you of integrity, of wisdom, of learning how to listen, of being nosy and curious about all the right things, of trying to be a good father and a good man and to give as much as he gets and to be wicked smart. All that happens when you meet him. Ladies and gentlemen, join me in welcoming my new friend and the new Operation Hope Goodwill ambassador, Eric. And that's Eric with an A, A R, I K Armstead. I'm gonna have you on the podcast.
- [06:48]
Eric Armstead
No, I appreciate you. Thank you for the amazing intro and all the kind words. You know, there, there definitely is. Even before we met, there's definitely some, some relational, I don't know, some, some work in the atmosphere because my mom is also from South Central. She grew up in the jungles before she moved to Sacramento and you know, my brother played at usc. So LA is a second home of ours, you know, a place that you find near and dear. And you know, it was also us meeting was a little kismet as well, too, because I have been wanting to meet you for quite some time and I just so happened Super Bowl Sunday, I walk into Jed suite and there you are and was able to meet you and introduce myself and, you know, start our relationship. And I'm excited really to, you know, join in in the fold. I think we think very similarly on a lot of things and I'm excited to. I have been excited to learn more about Operation Hope and all the work that you and your organization is accomplishing, and I'm excited to join the fold as well, too, and, and be a part of that change and helping the communities that needed the most, the disadvantaged. Forgotten the left behind. Told a lot of. For a lot of years, people have told people from these communities that, you know, their lives didn't matter and they, they didn't have anything to offer to society. But you and I know that's not the case. All they need is, is someone to pour into them and provide some opportunities and resources. And we know these, these communities produce the the most creative, brightest people in society, people that can do anything and overcome any adversity. So I'm excited to join in on a fold with you and you know, share, share financial literacy and preach these messages that are so important to our communities that we care about.
- [08:57]
John Hope Bryant
Yes. And coincidence is God's way. Remaining anonymous. That's an Andrew Young quote, our global spokesman at Operation Hope, and you're joining him as a ambassador sort of following in his wake from the second reconstruction, which was a civil rights movement, to the third reconstruction, which is the ownership society and the opportunity society, a aspirational generation. And this book I just wrote, Capitalism for All is really everything you just said about the potential from the bottom. It's by the way, it's top 100 now on Amazon and top and number one in several categories already that came out and of course I'm signing a copy and sending it to you buy one too but I'll send you a copy.
- [09:38]
Eric Armstead
I'm a buy one and I and I need, I need that. I'll buy one and I'll gift it and then I'll keep you. I'll keep your copy honored.
- [09:45]
John Hope Bryant
And that book is unpacking not and it's not defending the current system. That's ridiculous. It is because the ladder does not go right to the bottom. And those are the there are many at the top who don't deserve what they've gotten. They're just hanging around the right people in the right environments. But it is celebrating a system that brought you and me into enlightenment and and in that suite at the the 49ers that any person who works hard and does the right things and consistent at it can punch through all the barriers, go over around and do it and get to it to that ownership promised land, that opportunity promised land in spite of maybe the challenges and to repair the system to put the ladder to the bottom again so people can go from the bottom third, as you mentioned, to the middle class, afford those tickets to go to NFL games and buy the plane tickets and the hotel rooms and be able to take care do that plus take care of their families and and to come up to the top and dream to be a you or me or better one of these days. So I think we're sitting in a moment in history. But history does not feel historic when you're sitting in it. It just feels like another day. I want to get during the course of this podcast, I definitely want to get to the special sauce of your family because the guy I met in that suite doesn't just show up with that kind of confidence and self esteem that's poured into you from somewhere that's nurtured and cultivated the sense of quiet confidence you had. You, when you got the power, you don't need to use it. You didn't need to flex, you didn't need to. I mean, clearly you're like nine, 9,000ft tall and 8,000ft wide. I mean, I question your, your, your, your, you have a commanding presence, but you had no need to accentuate that or to, to flex your chest. You didn't have a bunch of jewelry on. Not, not hating on folks with jewelry. You weren't flossing, you were just there. And, and it was obvious when I met you that you, you were made of something special. I liked you from the moment I met you. And then when I said I got an email from you, the, and I, I noticed the little things. The email address was a professional email address. You didn't, you didn't just do a Yahoo or Gmail or some generic address. It was tied to your, what I call your family office, but it was tied to your corporate platform. And you even had an assistant that was like properly structured in your organization that handled your workflow and scheduled your appointments and help you. And that person was on the call with us briefly. And these things may sound like small things to people, but they are big things that I built my organizations, all my organizations, I built them with institutions, the institution building in mind. I built them from day one, whether it was my non profits or my for profits, as if they were going to be something one day. And so everything I did was best in class, in its structure from day one. And that's the way, that's one of the traits I've noticed about you. And a lot of people who are in your same position don't do any of that. They're just, they just, they just made some money, but they're, but they didn't grow. Okay, so I want to come back to the family piece and sort of how did you get here? Piece. But let's start. This is called money and wealth. Let's get right into a basic question. You build a career at the highest level of professional sports. You're a gladiator, you're, you're the highest level of one of the most, one of the most valuable sports franchises in the world, in the NFL. And, and, and, and really anybody in the world would want to, just to do that, just to play. And you now have this illustrious career. But how has your relationship with money changed from your rookie year to now?
- [13:43]
Eric Armstead
My relationship with money has changed, I would say a lot. My rookie year, obviously I was broke. I was pre nil. I wasn't getting, I wasn't getting to know bag in college.
- [13:57]
John Hope Bryant
Explain what nil is for people.
- [14:00]
Eric Armstead
Yeah, so nil's name, image and likeness. And it's a new rule that has allowed college players, which used to be amateur athletes to benefit and make money off of their name, image and likeness. And college sports has changed from not just oh, I'm earning a scholarship to I'll have a scholarship and I'm earning money for, you know, for playing in, in all sports. And so this is a new rule that I didn't benefit from. You know, it wasn't around when I was in college, so college for, for me was, you know, was a struggle. It was a struggle. Yeah. I was broke and, and I, I'm. Everything is relative. And I would say, you know, I was broke, but there was some of my, my friends that were in much worse situations than even I was. I played with guys that have to, had to send their Pell Grant or their FAFSA back home to their families to, to be able to survive. You know, I was fortunate enough not to have to do that.
- [15:13]
John Hope Bryant
So the money they got from our tended for college, they had to actually turn around and send that back to the household.
- [15:22]
Eric Armstead
Yeah, they were sent, they were sending their program or their FAFSA their financial aid. You know, we used to get, we used to get like 1200 bucks every three months or something like that. Guys would, would send money, you know, back home. So they're, so that their, their brothers and sisters and their, their parents or the families or their moms make sure that they were good. And so yeah, I, I was fortunate enough not to have to go through that, but I still, I still didn't have a, a dime to, to my name. You know, after, you know, a couple hundred bucks a month you got to pay your rent and eat, you know, food and all that. And that was gone. So when I got drafted, it was
- [16:08]
John Hope Bryant
a big shift obviously from Oregon to San Francisco, right?
- [16:12]
Eric Armstead
Yep. Oregon to Oregon to The San Francisco 49ers, which was a blessing because I'm from Sacramento and you know, the Bay Area isn't too far away. So it was like being drafted to my hometown team and you know, life changed. First check I got was a three million dollar signing bonus. And my, my first experience with, with taxes hit very shortly after that, after I read through, read through that pay stub, you know, went from, went from 3 million to 1.4.
- [16:49]
Charlamagne Tha God
Peace to the planet. Charlemagne, the God here. Now, y' all know I'm big on ownership. Owning your ideas, owning your business, owning your future. And that's exactly why I use Shopify. Shopify is the platform that lets you take an idea and actually build a real business out of it. All right? It gives anyone the tools, the storefront and the control. So you're not building on somebody else's plat, somebody else's algorithm. Okay? It's your own store, your community, your own customers. That relationship is yours to own. All right? What I love is how discoverable it makes everything. Shopify puts products everywhere. People actually shop. Google, YouTube, TikTok, shop the shop app. Even inside ChatGPT, you can literally go from conversation to checkout. That's next level options in our changing world. And right now, the Black Effects storefront is busy and Shopify is handling the heavy lifting. I am so excited that Shopify is going to show up at our Black Effect Podcast festival this year in a big way. And of course I'll be there preaching this platform and introducing this platform to all our small black owned businesses that partner with us. Shopify is helping drive the marketplace this year at our festival. And their footprint and commitment to us and the community of black owned businesses is something I am proud to be a part of. Build your store, own your audience, and create something that lasts. Start now@shopify.com Breakfast Club.
- [18:08]
Liberty Mutual Advertiser
Liberty Mutual customizes your car and home insurance. And now we're customizing this ad for your morning commute to wake you up, which could help your driving. Science says that stimulating the brain increases alertness. So here's a pop. How many months have 28 days. What gets wetter as it dries? What has keys but can't open Locks? If you don't want to hear the answers, turn off this Liberty Mutual AD. Now 12 months a towel piano. Enjoy being fully alert.
- [18:35]
Eric Armstead
Liberty. Liberty. Liberty. Liberty.
- [18:38]
iHeart Podcast Announcer
Run a business and not thinking about podcasting. Think again. More Americans listen to podcasts than ad supported streaming music from Spotify and Pandora. And as the number one podcaster, iHeart's twice as large as the next two combined. So whatever your customers listen to, they'll hear your message. Plus, only iHeart can extend your message to audiences across broadcast radio. Think podcasting can help your business?
- [18:59]
Charlamagne Tha God
Business?
- [18:59]
iHeart Podcast Announcer
Think iHeart streaming radio and podcasting. Call 844-844-IHEART to get started.
- [19:05]
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- [19:26]
Eric Armstead
Within probably 10 days, I'd put on £10. I was having trouble stopping the muscle growth.
- [19:32]
Superhuman Podcast Advertiser
Listen to Superhuman on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
- [19:41]
Eric Armstead
So hold on.
- [19:42]
John Hope Bryant
First of all, your first check. So people don't know. In the NFL you may have a 30 million dollar, 40 million dollar contract multi year, but you're really only guaranteed that signing bonus. And, and you'll, you'll correct me if I'm wrong here, the number of games you play or maybe that year for you, but if you get injured or whatever cut, whatever it is, they, they don't have to honor necessarily. I guess if you get injured, then the rest of that playing contract does not necessarily get paid. Is that right?
- [20:17]
Eric Armstead
Yeah. Contracts aren't fully guaranteed. I was fortunate enough to be a first round pick, so my rookie contract was fully guaranteed.
- [20:25]
John Hope Bryant
Love that.
- [20:26]
Eric Armstead
So it was, it was a four year, it was for four years essentially worth around $9 million. Right? For four years. And that was my, that was my first contract. And the signing bonus is, is something you get up front and so, you know, you get money up front and then what, they lose your mind? Yeah, what they pay you during the season isn't quite as much because they gave you that upfront money. So I mean my relationship definitely changed with money. You know, I was an instant millionaire. Millionaire, you know, overnight. And it was a huge blessing, a huge opportunity was a little scary for sure, never being in that situation before. And you know, I'm kind of blessed also too to, to grow up just my age. I landed in a spot, you know, being drafted in 2015 where I had, and you've heard a bunch of failure and other stories previously. And I would say the generation before us, you know, definitely there was a lot of, a lot of scary things, you know, from guys going broke and you know, guys actually being stole from, you know, where financial advisors, there was Ponzi schemes and all types of stuff going on that were happening to a lot of NFL players. So it was a scary moment, obviously a big blessing. But I immediately switched to really preservation mode. To be honest. You know, I, I early, early in my career, my, my financial advisor at the time, you know, in having conversations, I was lucky to have some good guidance early on. And, you know, my goal since entering the NFL, it was like, if, if I can find a way to get 5 million in my account, you know, that's 250 a year that, you know, if, if I didn't want to work again, I could live modestly off, you know, 250 a year. And that was my whole initial goal.
- [22:42]
John Hope Bryant
So just for the audience, this is getting really great, really quick. What he means by that is if you can get 5 million in the bank from this contract and not touch it, it's called principal. You make money during the day, you build wealth in your sleep. So he can take a modest return on that $5 million of 5%, which is a very reasonable number to think about. And. And for the rest of his life, he doesn't touch it. He'll get 5%. You can do. You can do 5% almost in your sleep. And that's $250,000 of income, passive income, that it will pay his lifestyle and for his family and education. If he wants to be assertive and aggressive and thinks that his investment advisors can do 10%, a little bit more risk, then that's 500,000 potentially a year. But he was really smart. He and I never had this conversation before. I can already tell how bright he is. It's better to underestimate and overperform than to overestimate and underperform. You don't get your heart broken. So 5% is his conservative number that he pegged of 250 a year, which is really, really smart. And by the way, Eric, I want to, I want to go back also to that tax hit you had, because I stepped on your talking point there to make the point about NFL contracts. When you got that first check, even before you went to the 5 million, you got that first check, you were both excited and petrified. So let's not. Let's go back to that in a minute.
- [24:13]
Eric Armstead
Yeah, no, definitely, definitely excited and scared. And, you know, it was a rude awakening to learn about taxes. You know, I heard of taxes. I'm from California, which, you know, is. Is, I don't know, New York, New York and Cali, one or two most tax states. Right. And so, you know, being from California, it wasn't. I was a little bit aware, but this is my first time in the situation, so I learned very quickly that, you know, not. Not to count your eggs before. Before they hatch. What the money that you make is not the money that, that you have. And so that was a good Lesson for me early on to see that, you know, I'm. I'm not really. I think the lesson early on was like, you're not really set for life and, you know, you got a lot more work to do. You know, you, you. A lot of people think you get drafted and it's like, oh, I'm good for life. But I had, I had some more. I knew I had some more work to do and I had to make some. Some good decisions and moving forward if, If I wanted to truly have financial freedom. And I wasn't quite there yet. I was a huge, huge blessing and a huge jump start.
- [25:28]
John Hope Bryant
Yes.
- [25:29]
Eric Armstead
But I still had to. Still had to make some good decisions. And fortunately enough, you know, I was able to make enough of those good decisions. And then fortunately, you know, for me, I was able to get two more. Well, two more contracts since then, which, you know, have obviously elevated things for me, but.
- [25:50]
John Hope Bryant
What'd you splurge on? What was the first thing you splurged on in that rookie year?
- [25:55]
Eric Armstead
I really didn't splurge my rookie year. I drove, I would say, in terms of, like, splurges, I didn't have much of a wardrobe leaving college, so I definitely, you know, bought some clothes. You know, I didn't want to, like, look crazy. You know, I was kind of keeping up with the Joneses a little bit in, in terms of that. Of, you know, go. I gotta, I gotta. You know, I wanted to have something to wear to game day and. But I didn't get a car or anything. I got myself an apartment in downtown San Jose. I had a dream of, you know, I always, always like, like high rises and so I wanted to get, you know, like a high rise and not necessarily a splurge, but, you know, I got myself an apartment. And then my rookie year, I did help my parents on with the down payment on a new house. Um, something that I was proud to. Proud to be able to do and. And you know, they're still in that house to this day, so. Beautiful. That was a proud moment for me. And coming together with my family to, To. To do that was. Was great. And then my rookie year, I drove my mom's Camry, to be honest, and I didn't get a car. Car for myself until my second year in the NFL.
- [27:18]
John Hope Bryant
So that was kind of my splurges.
- [27:20]
Eric Armstead
And
- [27:25]
John Hope Bryant
I wouldn't call clothes a flex, not when you're instant. I mean, I would not. I would not call clothing a flex. I think that's just quite rational. People Go job, get a job at Taco Bell and go buy clothes. You get a job at Walmart and go buy clothes so you wouldn't call some calls and clothes with the NFL contract. That's pretty re. That's pretty reasonable.
- [27:44]
Eric Armstead
Yeah, it was pretty, it was pretty reasonable. And I didn't, I didn't go too crazy my rookie year. Like I said, you know, I, I had, you know, I was making some pretty good decisions and trying to. I think the main thing I learned early, which will help people is that you know, what you can, because you can buy something doesn't mean you can't afford it long term. And I had to learn that. And it's very, it's very challenging. It is very hard too, especially in the environment of being a professional athlete because you feel like you can buy something, right? But you need someone to tell you like, no, you can't afford it. You can't afford it long term, right? You can buy, but you can't afford it. And so setting up your lifestyle that is sustainable early on is the main thing that I will stress to younger athletes and other, other people or, or in general who, you know, come into some, some money is really looking at a long term and living a lifestyle currently that you can maintain long term that you won't crash out and you won't burnout. And that's really important to get started is, is figuring what, figuring out what that is, what is sustainable and what you can really afford long term and making your lifestyle choices off that. And I, I was by no means perfect. There was things that, you know, I, I did, you know, spend a little more on and there was times where I was like, man, I really want to do this and I'm gonna go ahead and do it. But overall I established a lifestyle that was sustainable long term and I chose my vices. You can't have five vices you can't have. You can't be a car guy, a jewelry guy, a vacation guy, a, like a, a club buying bottle service. Like you can't have four or five things like, okay, you like jewelry, cool. Like make jewelry your vice or if you like, if you like a car, if you like car, if you're into cars, make that your vice and then try to be frugal in other areas. You can't go crazy in four or five different, different vices. And so that also helped me too where like I never really was into jewelry. I bought a chain once just cause like you're what it had to been year. It's probably like year four of my career. I bought one chain. It was. It was like a diamond tennis necklace. And then I wore it for a little bit, end up turning into, like, a bracelet and a necklace for my wife. And. Yeah, so I never. I really wasn't into jewelry. You know, I got out of, like, going out and spending early. Like, vacationing was more fun to me. So I do enjoy, like, good experiences, so I don't mind spending on, like, travel and vacation and, like, an actual experience.
- [31:19]
John Hope Bryant
Right.
- [31:20]
Eric Armstead
But yeah, some of those decisions definitely helped me early on. Get off to the. Get off to the right start.
- [31:25]
John Hope Bryant
So what scared the bejeevers out of you that got you driving your mother's Camry for the first year and you didn't buy a car until the second? Something scared the pants off you? Something you saw, something you witnessed, something you heard other players? What craziness did you observe where you're like, okay, no, I'm good.
- [31:47]
Eric Armstead
It kind of happened organically because I started going out to the bay to work out, and, you know, I was coming from Sacramento, so my. I start. I was using my mom's car. I didn't go get anything for myself. And then, like, towards the end of my rookie year, so I did that for a while, and then I got a rental for a little bit. And then towards the end of my rookie year, I was like, man, let me see if I can get, like, a car deal with one of these local dealerships to try to not have to get a car. And I got with some marketing people towards the end of my end of my first year, and they were able to get me, like, a car deal with a local Dodge Jeep in Reno, Nevada. So I did a little commercial. I did a little commercial for them, and they gave me a. They gave me a Jeep Cherokee that I drove around for a little bit.
- [32:41]
John Hope Bryant
Wait, wait, slow down. Hold on.
- [32:42]
Eric Armstead
Wait a minute.
- [32:43]
John Hope Bryant
Wait a minute. Let's back this up. You really are a capitalist. So hold on. You could have just gone to the dealership like everybody else. And I'm sure that. I'm sure the team has people lined up the lease a car, finance a car. I'm sure mortgage brokers and car brokers around. You could have just easily just said, okay, look, I'm my guy with decent credit score. I've got a great income. I'll just buy that car right there and finance it for 16 months. Wait a minute, hold on. You. You drove your mother's Camry for a year, then when you decided to buy a car you, you did a basically talent in trade deal.
- [33:20]
Eric Armstead
Yeah, did, did a talent trade. I did a commercial for them and they gave me a car for about like six months. They gave me a Jeep Cherokee, then they gave me a charger and then they came and switched it out and gave me another car. So. And I really didn't know what I wanted at the time. And then, you know, after, after about a year, year and a half, I, I found a car that I was like, man, I, I actually do kind of like that. And that's when, you know, I leased the, at least the S class on some payments that, you know, were, were, you know, affordable for me in my budget. And then I just start trading that out every year, every like three years and getting the new one and just kept making, you know, kept the payments going. Something I was in my budget.
- [34:14]
Shopify Advertiser
I get a lot of questions about how I run my business and keep everything operating smoothly. And the answer is Shopify. Shopify is the commerce platform that lets me take my idea and turn it into a real, fully functioning business. One of the biggest advantages is discoverability. Shopify puts my products in front of customers wherever they're already shopping. They Google, YouTube, TikTok, shop, the shop app, and even inside ChatGPT. And for my store, whether it's a mug, a shirt or a hoodie, all the raindrops can get something special to call their own. And Shopify's AI co founder sidekick has become a core part of my workflow. It assists with tasks like website optimization, analyzing sale trends, updating product skus and generating reports. Right now the Black Effect storefront is busy and Shopify is handling the heavy lifting. I'm so pumped because Shopify is going to show up at our Black Effect podcast festival this year in a big way for all of our small black owned businesses that partner with us. Build your store, own your audience and create something that lasts. Start now@shopify.com Ben Liberty Mutual customizes your
- [35:29]
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- [35:54]
Eric Armstead
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- [35:57]
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- [36:45]
Eric Armstead
Within probably 10 days, I'd put on £10. I was having trouble stopping the muscle growth.
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- [37:01]
John Hope Bryant
Why the lease? I'm fascinated with this whole conversation. Why the lease versus the purchase?
- [37:06]
Eric Armstead
The lease for me was I didn't want to give them my cash. And like, when they were like, yeah, give us, they're like, give us, give us 20 or 30,000 and then your payment will be X. I'm like, man, that'll sound too appealing. And then, you know, I had a conversation with, I forgot who I had a conversation with. But, you know, Mercedes S Class, they're, they're not a dime a dozen, but, you know, there's a lot of them on the road. You know, it's not a, it's not a, you know, a really exclusive, you know, ultra luxury car. And so, you know, they make a new one every year. So, you know, I drive it off the lot. It's going to lose its value. You know, the, the body style doesn't change. The body style changes every seven years. So if I get, if I get one, at least one, I can drive it, you know, for two, three years and then just get the new one, you know, Right. Keep paying the same thing. It's already factored into my budget.
- [38:08]
John Hope Bryant
So I, I, I don't buy new cars.
- [38:12]
Eric Armstead
Me neither.
- [38:13]
John Hope Bryant
As a rule, I, I buy previously owned vehicles. And if I was running it through my business, if I was, if it was a business expense, I'm not here enough in one place to drive car consistently on the street. And there's all kind of other issues about people don't want me driving. But anyway, I would lease it and I would run it through my business and write it off as a proper business expense. But these are my cars. For that, I, I use my personal, mostly personal enjoyment. So I buy them, but I don't buy a new car for the exact reason you just mentioned. And I let somebody else pay for the depreciation. I. Every car I've got in my garage is 25 to 50 off, off retail value, whatever it would have cost. And they look brand new, but I let somebody else pay for that depreciation. So that's a really smart. Again, one of many decisions you made that were really smart. Are there any stories that you can share with the audience real quickly before we move on of first year draft pick, rookie draft pick, horror stories about money that are instructive for the audience,
- [39:25]
Eric Armstead
For myself or just situations, not you.
- [39:28]
John Hope Bryant
I mean, it sounds like you buying a turkey sandwich off sale, was it.
- [39:32]
Eric Armstead
I would, I got a funny story, actually. Not necessarily a horror story. Yeah. So I, I get drafted. You know, me, me and, me and the boys, we're gonna, we're gonna go to Vegas for, for a trip, right? It's, I got drafted, you know, been in the NFL, been on team for a couple months now. So I'm like, man, let's, let's, let's, let's go to Vegas. So I invite, I invite, you know, some of my friends from college that are still at Oregon and friends, and we go out to Vegas and I'm like, hey, you know, we're going, we're going to have fun. You know, I got y', all, I'm gonna take care, I'm gonna take care of this trip. I want to celebrate, you know, blah, blah, blah. So we get to Vegas, I'm thinking, I got everything set up. We, we, you know, rooms and, you know, we're going out and then, you know, we're going out, we get to the club and at this time, I didn't have a credit card, which is another thing that saved me a lot. I had a credit union debit card.
- [40:42]
John Hope Bryant
Okay?
- [40:43]
Eric Armstead
So this, this is how I'm thinking that I can. That my credit union in Las Vegas or my credit union in Sacramento is going to let me swipe my debit card for this, this, this bot, this bottle service charge, right? So I got all my homies in Vegas. My card is getting declined.
- [41:04]
John Hope Bryant
Oh, no.
- [41:05]
Eric Armstead
Everywhere, my car, everywhere my car is getting declined. So my, my friends, we all looking at each other like, man, they didn't, they didn't bring nothing out yet because they charged a car before, right? I'm like, man, so that was, that was when I learned a lesson as well too. Of that like, yeah, this, this little credit, credit union card is, is not going to get me where I need to be. So I had to get, get some things straightened out before I wanted to make a next trip. Luckily, we had a older friend with us and, and he took care of it. And then, you know, I got back home and sent them the money for it. But yeah, it was, that was a rude awakening as well, too.
- [41:51]
John Hope Bryant
The credit union car was from his old life when he was broke.
- [41:54]
Eric Armstead
Broke.
- [41:54]
John Hope Bryant
And he needs to go get that MX Platinum card, a black card or the Chase card or whatever for his new life, for his new, that 49ers card for his new life. And he hadn't transit, he hadn't transitioned properly for hosting. Again, without naming names, we're going to move real quickly here. Is there any of your friends you can think of who got drafted, who just made a horrible decision that stuck with you?
- [42:21]
Eric Armstead
Yeah, there, there was definitely some, some rough decisions not to name names situations. I've seen many of guys, you know, removed from the NFL one or two years, you know, calling, asking for money, which, you know, I got a lot of empathy for because, you know, being in the environment, I see, I see how easy it is to, to get caught up. And you know, people who aren't in the environment wouldn't necessarily understand it, but there's a reason why, you know, you know, athletes going broke, lottery winners go broke. So this isn't just an isolated thing to athletes. But, you know, I've saw a guy, it was, it was a rough family situation really. He, you know, he wanted to get a house, you know, some spending problems, but he wanted to get a house for himself and then he got a house for his people and then they, they, they weren't paying, they weren't paying the mortgage and then that messed up his credit. So he lost that house. He was back, back, you know, upside down on that house. Then he lost his house for him, his wife and his, his, his family because his credit shot up and he couldn't afford to, to keep his house anymore for, for his own family.
- [43:49]
John Hope Bryant
Is that shot up, right?
- [43:51]
Eric Armstead
Yep. Yep. He couldn't afford to, couldn't afford his own home. And you know, that was, that was a tough situation to witness. And this, you know, this particular player was, you know, close to me and you know, I tried to try to help, you know, help out as best I could. But yeah, it's, it's, I got a lot of empathy for it, though, because, you know, even just, even just what I was speaking to earlier. I don't think people realize. I think yes, and if, yes, we make good money, but this money has to last you. You know, it's, it's your life. Everyone's not set for life, I'll say that. And you know, me being a first round pick, you know, if I wanted to live off of, you know, 2, 200,000, it's hard to get. If I wanted to live off 250, it's hard to get 5 million in, in an, in an account like that is. That's a hard thing to do. You know, it took me, it took me five years to do that and I was a first round pick. And so all. Everyone's not as fortunate and I, I was super fortunate to, you know, get more contracts after that and, and set myself up. But yeah, that's why I have a lot of empathy and just seeing what is, what is possible to happen to, to guys and how easy it is to fall into those traps and a few bad decisions, a little overspending, you know, a few, few times and it could, it could be over.
- [45:37]
John Hope Bryant
So, so the story about your friend, and I'm glad I asked you the question because this is the other side of responsible. Really. Eric's example is the exception, not the rule. 70 of NFL players are bankrupt five years after retirement, not picking on the NFL. About 65. 70 of NBA players bankrupt five years after retirement, not Picking on professional athletes. About 70% of lottery winners bankrupt five years after they get the winning. So this is about really financial literacy and not about income, which is why this conversation is so powerful because he's really been very responsible and I want to know where he got this from in a second. But it's a very powerful lesson he's already given you about harvesting resources and not wasting opportunities and investing in your future day one and, and setting yourself up for life so that you can have a sustainable life and not trying to floss and impress somebody. Trying to impress somebody you really don't want to be like actually the six square block celebrity. Your friend had a house for himself and had a house for his people. Now his people, I assume he meant his boys from when he grew up. Not, not, not his boys.
- [46:54]
Eric Armstead
It was, it was some family members.
- [46:56]
John Hope Bryant
Okay. But they didn't pay the bill.
- [46:58]
Eric Armstead
No.
- [46:59]
John Hope Bryant
All right, so there you go. That nobody washes rental cars. Good people. You cannot take everybody with you. You love them, you care about them. Give them some money, give them an education, give them a, give them a one off, but don't attach their Their life and net worth to, in their credit to yours because they, they, they've never been where you are. You're a gladiator, you're at the top of your mark. They're nice people, but they need to succeed on their own in their relative space. Let's go into mindset now.
- [47:29]
Eric Armstead
One more, one more thing to add to that. Yeah. Your life when you first get drafted, you're 21, 22 is not going to be your life when you're 30 years old later in life. Like you, what, what you feel, you know, your responsibility is like, you may not have kids yet, you may not be married yet, but your life is going to be completely different. Your responsibilities, your, your what, what's. Your financial responsibilities are complete going to be completely different. So it's important to factor that in as families and you're, and you're trying to help your family in the best way you can. You have to factor in down the line that your financial responsibilities are going to be completely different. And that has to be an honest conversation when you're trying to help your family. And your family has to know that, that like, look, I can help, but I have to help in a certain way because if I, if I help in, in a bad way, you know, I'm not gonna, I'm not gonna be able to sustain this for my own kids, for my own family that I'm starting. So that's, that's another important thing as well.
- [48:43]
John Hope Bryant
And with all due respect, the people you're helping can't come and help you. It's a, I mean, you're the, you're the top of the economic pier in your family, probably. So if you get in trouble, everybody's in trouble. So we got to take the emotions out of the business decision. Business is not personal. It's not emotional. You talk about picking your vices before we get the mindset. Picking your vices, it's a really smart. I've never heard anybody describe it that way, but you can't have five vices. You can't have. You really shouldn't have three. Pick one. And my vice, I believe, is cars. Auto, auto automobiles. Not just. And racing cars. I race cars. And on the, on right before this interview, I got a note from the mechanic at the race shop that my primary race car, it is out of the blue. You know, the bill is about 40% of the original purchase price. The bill, the repair bill, which is like out of the blue, but it's a race car. And if you can't Afford that you shouldn't have a race. Race cars as your, as one of your vices. Go pick something else like basket weaving or something or model cars. But you got to know what you're getting into and be able to handle that. Plus your primary responsibilities. Your primary responsibilities come first. If I gotta think about, other than being a little frustrated, if I gotta think about what that guy told me I should, I should just sell the card. Never got into it to begin with. I did think about sell the car. Selling the car for five minutes, by the way.
- [50:19]
Eric Armstead
I would have thought about that too.
- [50:20]
John Hope Bryant
Let's talk about, let's talk about the mindset. You, you have a certain way you think about life. A lot of people earn money, but for. But far few people know how to build lasting wealth. What lessons have you learned that helped you make that shift in mindset? And then I'm going to combine this with another question. When you think about wealth, do you define it only in dollars or also in terms of net worth, legacy, family impact?
- [50:54]
Eric Armstead
Yeah, in terms of mindset. I have a growth mindset and I live by a mantra. I call it stay hungry. And people know my celebration on the field. When I get a sack, I rub my belly and letting everybody know that I made a play, but I'm not satisfied. I want more. I want more sacks, I want more tackles, I want to eat more. But it's not just a celebration or something that is for sports. It's a mantra that I live by, meaning never being satisfied where I'm at. And that is being willing to try new things, learn new things, explore just to just to never be satisfied and be willing to give everything that's inside of me out to the world. Like, it's never, it's never enough for me to just be like, okay, I did that, you know, that it was good and that I'm just stay where I'm at and I'm. I'm cool. Like, I don't need to know. I don't need to know more stuff. I don't need to acquire more knowledge. I don't need to try other things. I just like what I like. This is what I do. This Eric Arms said. This is, this is who I am. This is what I'm good with. And I'm just do this. And so living by that mantra has allowed me to, you know, be around some amazing people, have great influences, really educate myself in different areas other than just just football. I've always felt that I was bigger than just football, that I had more to offer to life in, in multiple spaces and really living with that growth mindset that it's never enough just to be where you're at, has allowed me to open new doors and break barriers and do some really amazing things. And really, I feel like I've been so blessed in my life. God has, has been extremely gracious with everything that I've been afforded to. And I feel like I would be doing myself, God and the world of disservice if I didn't steward what I've been blessed with and, and let it all out, whether that's on the football field or whether that is how I show up in my community, whether that's how I entertain people on social media and the ideas that I have, whether that is business ideas I have and things I want to accomplish. So I really. And it's very important too, that, that's why I say, you know, that's why I feel financial literacy and economic mobility is so important because you have to meet your basic needs to be able to think this way. If you're, if you're just trying to get by and, and you know, trying to figure it out, it's hard to have the, the comfort to be comfortable, to think this way to, to, you know, think outside the box and try new things. And if idea pops into your head, I'm at least try to do it. If it doesn't go nowhere, cool.
- [54:29]
John Hope Bryant
Cool.
- [54:30]
Eric Armstead
And so once I really established myself in the NFL, I was allowed to start thinking this way and, and be. And be, you know, and do more really. And so that's why I feel like there's so much untapped potential and opportunity in society because there's so many people that haven't been poured into and they're just trying to get by. Their creative side hasn't even been able to kick in. They're just trying to, just trying to survive.
- [55:01]
John Hope Bryant
Yeah.
- [55:01]
Eric Armstead
And once you, once you surpass just surviving, you can really start living and, and give amazing things to the world. And that's why I feel economic mobility and, and financial literacy is so important because you got to take care of those basic needs first. You got to have, you got to be able to eat, you got to have a roof, you got to be, you got to be healthy. You have to check those basic needs first before you can really start to give amazing things to the world. But yeah, that's my mindset. That's how I choose to live. And so now failure to me is, is when, when something pops in my head and I don't act on it. That, that's, that's a failure. It's not a failure if something pops in my head and I try to do it. I put my plan together and okay, no one, no one wanted to, you know, partner with me on it. Cool. No one, no one, you know, maybe thought my, my Instagram rule, you know, was, was funny or entertaining. Cool. It didn't, it didn't go viral.
- [56:08]
John Hope Bryant
Cool.
- [56:09]
Eric Armstead
But that's not a failure to me. Failure is when something pops into my head like, man, this is a way to. In anything in football, you know, just in life in general. Some pops in my head like, this is something that will be beneficial for someone or this is something dope that I like to do that I can offer to the world, or this is a new way to do something. If I just let that, if it just goes, if I, if I don't act on it, that's a failure to me at this stage in my life. And that's how I decided to move, you know, moving forward.
- [56:48]
John Hope Bryant
It's fascinating listening to you because now your first moves. When I met you made perfect sense. When we, when I walked in the suite and Jed York was there to my right, you were, you're taking up half the dang on suite, but you were there in front of me. And he had this, you dressed conservatively, very nice cream outfit as I remember. Right. In fact, I was like, where, where do you get that? I want to get. I want to, I want. Just like that. I need like five sizes smaller. And you had your wife with you. And I shook your hand, my hand disappeared in yours and you instantly said, I've been waiting to meet you. And you had. We, you didn't know we're going to meet, but you didn't let that moment waste away. You were, you were, you were. And you didn't sit there and talk about yourself. You didn't waste that moment. You were nosy, you were curious, you had questions, you wanted answers. In case my sense that that was the only moment we were going to have. You were going to eat, you were hungry for knowledge and you were going to eat a full meal that day. And that is a mark of a very successful person. I asked Quincy Jones, how'd he get so smart? God rest his soul. He said, john, I'm just nosy as hell. I want to know everything about everything. God gave us two ears and one mouth. So we listened twice as much as we talk. That's the hunger on the field and the desire for wisdom in your Brain, I think, is a hallmark for why you continue to be successful. Not to settle. I don't settle. I mean, part of my frustrations with me is not ever enjoying the moment, per se, because I'm just always out. I'm. I'm always on the field, hungry for what comes next, trying to help our people. Let's. We've had a great conversation. We probably need to have another one because we're going to run out of time. But as we wrap this up, I want two things from you. I want to know your backstory of how you got here, because this doesn't just happen. I need mothers, young mothers and fathers listening to this to know how you were raised. Because somebody did this, right? Let's give a salute to your parents or uncles or whoever did this, or grandparents. And where'd you get this? Financial literacy lessons, these basic sort of grounded knowledge, the respect that you have in your bones. Where'd that come from? And then wrap into that. For those who are listening to this, most people are never going to be in the NFL. But what lessons on financial literacy, which I believe is a civil rights issue of this generation, and wealth creation and. And successful living applies to everybody. I'm gonna shut up now and let you just rap.
- [59:36]
Eric Armstead
Yeah. Really. My backstory, the youngest of four, both my parents grew up in the church, super blessed to have the, the life that I did. And my parents, you know, really poured into me. My mom, you know, used to prophesy over me that I was going to be special and that I was going to help people one day and that I was going to. She was telling me all the time that I was different and special and never, never forget that. And then my dad. My dad train professional athletes. He was a basketball trainer. And I had a number of good influences on me. Like, I, I grew up in the gym. And so what I, what I do now is, is like nothing. It's just like, like working out is like, okay, I just, I've. I've been going. I went to the gym three times a day with my dad training guys at 8, and then again at 12, and then, then again at night time and then going to the program where they all played basketball and games, and it's like working is nothing to me. I've had plenty of examples of, of, you know, I really had some. Plenty of examples of, you know, if you do X, Y and Z, you know, you're gonna. The likelihood of you being successful is pretty high. And so my dreams were never, never unattainable. To me, I never, I didn't really ever doubt that I was going to be a professional athlete. I did play basketball growing up, and I wanted to be the first person to play in the NBA and the NFL. So that is one goal that I haven't hit. But besides, aren't you a little big for the NBA? I played, I played. I was on the team in college. I was a pretty good player in high school. All right, I was. I was probably in basketball. I was ranked probably like top 100 in my class in high school.
- [61:41]
John Hope Bryant
Okay. All right. Never say never.
- [61:43]
Eric Armstead
But yeah, I definitely would have had to focus more. And it's, you know, I probably, yeah, I would have to focus a little more. But with those goals in mind, they didn't seem unattainable. And so I'm not. I'm not really shocked or surprised to be doing what I'm doing now. And even when I was, I can remember far as back as in fifth grade, I knew I wanted a wife and I knew I wanted to be able to provide and take care of my family, and I wanted to be different than my classmates. And, you know, that's. I never smoked anything or drank anything in my entire life. And I just always wanted to be different and wanted to be successful. And so, yeah, I owe that all to my parents and, and the influences that they put around me. And so the, The. The power of pouring into your child is what. I will share that message. The power of pouring into your child and speaking to them and important. And speaking life into them, how important that is, is a very important message for. For parents to continue to do that. And what was the second part that
- [62:54]
John Hope Bryant
I can wrap up with those who are. You've answered it in part in the way you were raised. It sort of blends in. By the way, my mother told me she loved me every day of my life also and told me I was special also, and I could do anything I want to do in my life also. And I. It doesn't surprise me at all that I am at the table making a difference. I didn't know I was going to make this kind of a difference or at these kinds of tables, but I knew I was going to be at somebody's table, so I was just disciplined and to me is not genius. It's just rinse and repeat. As you work out three times a day physically, I worked out three times a day mentally. And so as you were talking, it spoke to me that this is just what success looks like when you prepare. Well, there's a book called the Outliers by Malcolm Gladwell. And basically it says if you spend 20 hours, is it 10 hours a week actually on anything? Well, it, it, you can go 10 hours a week to 40 hours a week. But if you spend at least 10 hours a week beyond what you're doing to make a living on anything, over time you'll become the NFL example of that in your chosen field. And I just found that to be true. The second question I asked you was those most people are not going to be ever have a chance to be a pro draft pick, first, second, third draft pick or any draft pick on an NFL team. What tools, skills, knowledges, knowledge sets or mindsets will work for them in their life? They're a teacher. Somewhere there are police officer. Somewhere they are a small business owner. They are, they're working an hourly job on the way to trying to get a corporate job. They're in a small town. What suggestions does Eric have to inspire the average income earner to, to live their best version of their life and even maybe to build wealth?
- [65:03]
Eric Armstead
Well, first thing is don't put me on a pedestal. I'm no, I'm no greater than you. I'm simply a human being that has been blessed and fortunate to. I do have a cool job that people find cool and, and not many people get to do it. But beyond that, I'm just like you. And you know, I believe in humanity. I believe that we're all more like than we are different. And so you know, having that mindset and thinking through that scope of, of a message, you know, for you would be that. Anything that is, anything that is worth attaining, anything that is, is worth acquiring, anything that is worth anything of value. There's typically a lot of hard work, dedication and sacrifice behind it. And I would encourage people to, in anything that you're pursuing to put that at the forefront that even if it came easy to, you're not going to cherish it as much as if you, as if as the, the things that happened for you that you sacrificed and worked hard for. And so be willing, be willing to do that, be willing to have that pain of, of discipline instead of that pain of regret and think and dream big and, and try to achieve anything that you put your mind to. Knowing that it's going to take a lot of hard work and a lot of sacrifice and being prepared for, being prepared for the moments, having a growth mindset, being able to be prepared for the opportunities that you will come into and educating yourself is, is another as a Very important thing as well too. Two things on that, you know, grow. Being in the Bay Area and on the 49ers for so long, I've, I had so many opportunities, was in so many rooms and people talking about tech and venture investing and all these things. And I'm like, man, what are these people talking about? And honestly, I felt like, I felt like Kevin hart on the 40 year old version, like you throwing all these big words at me. So I'm gonna take him as disrespect, but I didn't like that feeling. I didn't like that feeling of, man, I don't know what these people's talking about. And so I took it upon myself to educate myself. I had an opportunity to. I don't think, I don't, I actually, I don't know who's done this in NFL history. I'm practicing in San Francisco during off season workouts. There was a continuing education course on venture investing put on by Marcus Colson, another former NFL player at Columbia University in New York. I got done with practice. Now, in retrospect, I probably could have found something a little closer like maybe Stanford. There's some good institutions there too. But I wanted to go to Ivy League school. I wanted to see, I wanted to be on campus. Yeah. So I practiced all week and I flew to New York for three day courses and I decided to educate myself in, in, in those, it was two, it was two three day, like crash courses. And in those six days, they were about a month apart. And making that investment, flying cross country, going to Columbia. My back was hurting on that plane, but I, I was thirsty for the, the knowledge and the information. It unlocked a whole new side for me. The rest of my time in the Bay Area. Oh, ROI and stage C. And. Yeah, I know what that is. Yeah, I know what that is. Oh, oh, okay. This is what you're talking about. Okay. Right. And being able to have. And once I realized like, man, this, this stuff isn't that complicated. A lot of times stuff just, they put abbreviations on it to, to keep people excluded and make it feel like it's more complicated than it really is.
- [70:18]
John Hope Bryant
Right.
- [70:19]
Eric Armstead
And once I decided to educate myself and have those conversations, it just opened up my brain and completely new pathways. And that's really when my, my thirst and hunger for knowledge and information really began to shift. And that one decision led to another opportunity and then another opportunity and then another opportunity and then another opportunity. I felt comfortable having the conversation, which led to another opportunity. I made another connection. And you know, eight, nine years later, I'm sitting here very confident, very comfortable in any room, feeling like I can have any conversation. And if I don't know something, I feel very comfortable asking too. What is that? Tell me more about that. So educating yourself, being willing to work hard and sacrifice and know that anything worth achieving is going to come with that, you know, that's how I've decided to, to try to progress and, and be successful and, and reach my goals and my dreams and my aspirations and you know, hopefully that some of those messages, you know, you can apply to your life as well too. And yeah, I think at its core that's, that's what I've done to get to the level that I'm at and still far, far, far, far away to go. Still a lot more to do and a lot more to accomplish. And it's going, but it's going to continue to take the same mindset that I have and continue to push that forward.
- [72:00]
John Hope Bryant
So I'm so glad I follow my gut instinct. I'm so glad that I bet on you when we met. I will tell you I meet a lot of so called important people every week. I meet tons of NFL players, former NFL players, NBA players, baseball players, etc. Etc. Honored by that. Honored. Whenever they introduce themselves or I'm introduced to them I. Most of them are forgettable not because they're not great people but it's not a. I don't get a vibe or I don't get a. I don't get a feeling from them that oh my God instantly this person here is special beyond their clear talent on the field. And I got that feeling from you don't. Didn't know why. I got that from somebody who shares your last name, Taron Armstead who I met in Dubai in the Middle east at an off the grid summit that did not have a website that we weren't I think where him and I were the only two African Americans there and once again very much like you, really good spirit, really really smart, nosy, curious, hungry and want to know everything about everything. Do you know Tara?
- [73:29]
Eric Armstead
Yep. We're. We call each other, we call each other Ken. I think we're distant cousins but now I love, I love Tehran and played against them and no it's something special about that Armstead name man. It's. It's not too many of us but the ones, the ones that you do know about, pretty special.
- [73:51]
John Hope Bryant
They come with firework. Both of you, I'm proud to say will be. Will be. You'll be joining Tehran as HOPE Goodwill Ambassador. He also joins the inaugural class. And you remind me of my friend Reggie Jackson. You remind me of my friend Alex Rodriguez. They're not just great on the field, they're really smart. And part of why you're so successful is that you keep that humility and that hunger going deep inside of you. I'm glad that I did what I don't normally do, which is to make a snap decision to go all in with somebody. And I'm, and then you don't know this, but I made that decision about you and I'm honored to know you. Thanks for being an inspiration to so many. You have inspired people in this last hour on this podcast. I'm sure it's going to go everywhere. And, and luckily because we are now associated through the Goodwill Ambassador program, I get to say, I don't say goodbye, I get to say see you later.
- [74:55]
Eric Armstead
So man, I, I appreciate, very humbled by your words and you know, someone of your stature thinking that highly of me in the short time that we've known each other is, is, is truly amazing and I'm really excited, you know, I was really excited to, to meet you and be able to now be able to work alongside of you. And you know, I, I feel that this journey that we're going to go on, Operation HOPE and, and the Ambassador program, I'm really excited about the, the generational change that we can, we can create and the collective of minds and brains, you know, your generation, my generation, generations underneath me. And because financial literacy, it doesn't have, it doesn't have a age attached to it. It's something that the earlier that you can understand it and apply it, the better off we'll all be. And so I'm really excited. I can't wait to get to work. I know this, there's going to be a meaningful partnership and group that's going to accomplish a lot together. And so I appreciate you and like you said, this isn't, this is, we're, we're acquainted now. This isn't a one off podcast to have a lot of conversations and do a lot of work together. So I'm really excited.
- [76:37]
John Hope Bryant
This is the third reconstruction. Ashley, Eric and I, it goes back. I will end with my book which is out now. Capitalism for all. It, this conversation confirms because we both come from humble beginnings. You're on the playing field of professional sports, I'm on the playing field of professional, of business. And I consider myself a professional athlete of the brain. And, but we've gone from the bottom to the top of our game, coming from completely two different walks of life, proving that this system actually can work. It's imperfect, but it can work for the least of these God's children if you apply yourself and use the exact same business plan, if you will, that you've used for your life and I've used for mine, which is hunger, discipline, authenticity, hustle, never giving up, never giving in, keeping a strong team around you, getting the toxicity out of your life, staying crystal laser like, focused. I want to thank Gus and Krista Armstead, who did a great job with you. I want to thank Melinda, your wife, because that behind every successful man is an exhausted woman. And thank my, my wife Shaetra. So until later, thank you very much for joining Money and Wealth there. Welcome to the family.
- [77:56]
Eric Armstead
I appreciate you. Thanks for having me.
- [77:58]
John Hope Bryant
Peace and light. Money and wealth with John o' Brien is a production of the Black Effect Podcast Network. For more podcasts from the Black Effect Podcast network, visit the iHeartRadio app, Apple Podcasts or wherever you listen to your favorite shows.
- [78:18]
iHeart Podcast Announcer
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