Loading summary
Transcript48 lines
- [00:00]
A
This is an iHeart podcast. Guaranteed Human.
- [00:04]
B
The wait was worth it. The keys to your dream home have been secured. Now comes time to fill it with memories.
- [00:10]
C
But first, furniture and movers.
- [00:12]
B
When's the housewarming? Who's cooking? Or should you cater? All that planning can be stressful, but ensuring your home shouldn't be. And that's where State Farm comes in, because State Farm agents can help you choose the coverage you need.
- [00:24]
C
Just call, go online, or check out the app.
- [00:27]
B
An agent is ready to help so you can focus on showing off your new home. If you know, you know like a good neighbor. State Farm is there, Back to school is here.
- [00:35]
A
And Target has everything families need to help head into the school year feeling confident and ready to do their thing. From school supplies and stylish apparel to accessories kids actually want, Target makes it easy to check every box on your list at a great value.
- [00:49]
B
We're talking backpacks starting just $5 and up to 60% off school supplies.
- [00:54]
A
Plus, kids can express their style with brands and collabs they love, like Love Shack, Fanc, Cat and Jack Overtime, and
- [01:01]
B
customizable Owalla bottles with stickers, charms and much more.
- [01:04]
A
The prices parents want and the brands kids love all in one place. At Target, peace of mind starts with knowing what supports the journey is steady, grounded and dependable, especially during seasons of change. That's why Nissan engineers push their vehicles to the limit to demonstrate quality, reliability and durability, making those principles a foundation across every vehicle built. That commitment has earned recognition from J.D. power, ranking NISS on number one in new vehicle quality among mainstream brands. Because when trust is built into the foundation, it creates more space to move through life with clarity, confidence and intention, getting the most out of the journey wherever it unfolds. For J.D. power 2025 U.S. initial Quality Study Award information, visit jdpower.com forward/awards Awards based on 2025 model year. Newer models may be shown hey, what up, y'? All?
- [01:56]
B
It's DJ Envy, and I'm at the premiere of Star's new show Fightland. Executive produced by 50 Now 5th, tell us about Fightland.
- [02:04]
C
I put my reputation on the line
- [02:06]
B
saying that you're going to enjoy this
- [02:08]
C
and appreciate it as much as you appreciated anything from me to this point.
- [02:11]
B
Man, that sounds promising. Fightland is the next level.
- [02:14]
C
I'm a huge boxing fan, so to bring this world to life in a new premium crime drama is special to me.
- [02:19]
B
You heard the man. Catch the new series fightland, kicking off July 31st. Only on Stars. Now let me go catch the premiere welcome to Money and Wealth with John Hope Bryant, a production of the Black Effect podcast network and iHeartRadio foreign. Hey, hey, hey. This is John Hope Bryant, entrepreneur and host of the Black Effect Network's podcast Money and wealth with John Hope Bryant on iHeartRadio. And I've been doing a lot of guests recently because I believe they've been bringing you best in class intel that you need to transform your life. And I'm proud of all those guests. When I bring a guest to you know that I believe they are the best of the best in their space, in their field. But when I come at you myself, there's something going on that I really want to communicate with you directly. I believe the time is now and I believe the message is urgent and such is the case for this moment. I believe the economy is essentially strong, but there are outside forces that are messing with the economy, messing with its stability that I think will create challenges for it in the short term. I think long term it's strong. But I do believe in the next six to eight months, you may need to find a safer place to hide. And don't do flaky stuff. Don't do silly stuff. Be very mature about your decisions. That got me thinking about the larger issue of this generation. And a lot of stuff I see on social media just. It frustrates me because I think people are just misguided. I think that they are going to harm their own economic futures because they think things are. Are simpler, easier than they are. And so this is inspired by my book, this podcast episode called the Ownership Generation. That's this episode's title. It's a special one hour, two, two part podcast. Tell all your friends to put this on repeat, break it down into pieces and talk about it in barber shops and nail salons and hair salons and fraternity and sorority meetings and family meetings. And is inspired by my book, now a bestseller, Capitalism for All, Inclusive Economics and the Future Proving of America, which I'm going to get to in subsequent episodes dealing with the book itself. But this book, this, this piece, this podcast episode is inspired by the book, but it's not about the book. This is about specifically you right now. And particularly if the you right now is 20, 30, even 40 years of age. And you've been paying way too much attention to Instagram or social media or what your friends are telling you and who may be broke themselves and not realize it. So let me break this down. You don't build a life by renting one. This is a this is gonna be a lot of straight talk. I do these straight talk videos. They're two or three minutes. And you can almost assume this is one hour of continuous straight talk about the things that I think matter the most right now. And I'm doing this because I love you, because as my T shirt that I'm wearing right now says, actually, I can. You can actually, you can win. I want you to win. And when you want somebody to win, you tell them what they need to hear, not what they want to hear. I'd rather you respect me and learn to like me than like me and never respect me. So let me drill down on things that I think really matter. And. And it starts with this first principle of the ownership generation. You don't build a life by renting one. And one gift, meaning something that you have that's part of your life. One gift is not enough to build anything worth leaving behind. So part one, Rent a life versus own your life. The false argument that's keeping a generation in place. Part two, one thing is not enough. Pretty, smart, handsome, educated, credentialed, talented, degreed. Why? That's only the beginning. It's gonna be a deep episode. So let's talk about where we start. I want to talk to you today about a decision you're making right now. If you're in that age group that I mentioned or you know of somebody you love and care about who's in that age group that I mentioned, 20, 30, 40, maybe you're making decisions even without knowing you're making them every single day. You're either renting your life or you're building toward owning it. And most people I talk to have convinced themselves that renting is enough, that it's even smart. I'm here to tell you that's the most expensive lie in the economy. I'm thinking right now about folks who show up on business television shows telling poor people and working class people and working middle class people not to buy a house. Not to buy a home when they own 1, 2, 3, 4, 5, 6 homes themselves. Certainly they own one home. The number one way you build wealth in America, everybody who's an investor knows is home ownership. It's a lie, but it feeds into a narrative that renting and living your best life right now is a smart thing to do. I'm gonna unpack all this now. I'm not just talking about apartments. And by the way, I'm a landlord. I have joint venture with CIM Group. I sold my last real estate company. I was a Principal owner. I was the owner and the Promise Homes company, I sold it in 2021. And I have a minority stake in that. I'm sure trying to get out of that deal right now. But I've partnered with CIM Group, is incredible organization. They're doing Centennial Yards here in Atlanta. I'm part of that as well. And so I am an investor. I am a, a landlord. I was doing single family, now I'm doing multifamily. So I'm talking against my own interest is what I'm saying. I'm telling you not to rent from me long term. I want you to be with me short term, but I want you to at some point to transition. I really want you to go from rent to own with me or with somebody else. So I'm not here to debate square footage and interest rates, people. I want to talk about the bigger picture. The idea that renting has become a lifestyle, a brand, a vibe. And I want to challenge that not to shame anyone, but to free someone. I rented right until I didn't. Me, I'm talking about. So here's the false argument. So the cultural narrative is owning is overrated. Renting is freedom. The financial influencer would say you're not throwing money away, you're buying flexibility. The tech optimized entrepreneur influencer would say own nothing, access everything. Here's what they don't tell you about renting as a lifestyle. The landlord, me in this example is always building equity. Always. So as you're paying rent, paying 2000, 3000, 4000, 5000amonth, 6000, 7000, 8000, 10,000amonth in New York City, that's very common, that rental rate. You're paying down that mortgage of the investor every month and you're opening up a window and just throwing that money out the window with regard to yourself. Now, if you're there for a short term job or if you're in that city because you have a career or job, or renting is part of a long term strategy for you to transition within 1, 2, 3, 4, 5 years into home ownership. Fantastic. There's a strategic part of your thinking no different than you don't want to work at McDonald's for the rest of your life. It's a great job at a certain age. But unless you're the manager or the general manager or you want to be an owner of McDonald's at some point you want to step up and step out at some point. Walmart is one of those rare places where you can actually stay with and from cashier to general manager and make a half million dollars a year. But that's very rare. My friend Doug Millen literally went from stocking shelves to CEO at Walmart. But for most of these places, you want to hit it and split it. And same is the case with renting versus ownership. The landlord is always building equity. Your rent check is writing someone else's wealth story. That's not freedom, that's a subscription. A very expensive one. But this isn't just about housing. We're talking about renting your job versus owning your career trajectory. If it's late in, late, long lunch, leave early. And you aren't invested in that thing, you're just showing up, you're just sort of mailing it in. You're really hitting your face on their fist. The employer. You're wasting your time and not impressing them. They're not going to give you a raise and you haven't earned one. And I'd rather you waste my money than waste my time. No one can waste my time but me. I'm ruthless about my time. It's very interesting. Poor people, struggling people value cash. And wealthy people, they value their time. And wealth is a mindset. You make money during the day, you build wealth in your sleep. Renting your relationships, transactional versus covenant commitments. A giver and a giver is exotic. That's relationships, that's covenant. But then you have giver and taker. That's neurotic. And I tr. I'm assuming in this case you're the giver. And then you have taker and a taker, and that's psychotic. You don't want to really be in the last two versions of this. Networking is a taking business, right? Relationships are a giving business. You want to be a giver and engage with a giver, right? So what are your relationships like? What's your relationship capital like? Are you hanging around people smarter than you, brighter than you, sharper than you, wiser than you, people who can teach you something? Are you the smartest person in your group? That's scary. I know a person very, very, very smart who hangs around people smarter than she is. Sorry. Less intelligent, less ambitious and less intelligent than she is because she wants their approval, I guess. And she had a home and decided to move from the house. Didn't want to deal with a renter and decided to sell the house. And now she lives in an apartment because she wants to be where all the action is. I think she's won the battle and loss of war twice, but it's not my life to live. Rending your identity, performing for approval versus building from values. Let me go back to the person who I mentioned. Didn't want to deal with the land, with the renters and tenants and owner home ownership drama. Just wanted to live free. Only in the dictionary does the word success come before the word work because it's alphabetical. All things that are valuable are work. Whatever you love is going to drive you nuts. Your family, your children, your husband, your wife, your boyfriend, your girlfriend, your job, your career, your friendships. Whatever you love is going to be work. So get over it. Knock it off. You can do it. As I said, my T shirt says actually you can, but you got to invest in it. Everything's an investment. And if you find a free lunch is probably stale, renting your future, outsourcing decisions to algorithms, trends and other people's opinion, I don't have to say it's okay if you don't like me. I like me. Not one ounce of my self esteem depends on your acceptance of me. That's a Quincy Jones quote. God bless his rest his soul friend of mine. So you've got to understand that you're a leader. You are an eagle surrounded by buzzards and turkeys. People are not going to understand you. So don't rent your future and certainly don't rent it out to somebody else who doesn't have one. And don't listen to broke people. You can rent a beautiful apartment and still be homeless in your spirit. I see a lot of people who've got doorman and fancy rented or leased cars and clothes they bought on 26% credit cards and apartments that they can't afford. Trying to impress people they don't know with money they don't have, about things that don't matter and people who don't care about them. And for what? What is all that for? You're just rearranging the deck chairs on the Titanic. You're just stepping in mess versus over it. You're on the Titanic. You're just picking drapes that you know you just need to get off the ship and find one that is not full of holes and false dreams and lies and one that travels and can get you to a destination. This summer there are 250 reasons to join T Mobile Girls.
- [17:09]
A
Trip booked and switching to T Mobile Help make it happen with experience beyond
- [17:14]
B
switch and get one $100 back plus $650 in value in built in plan benefits. That's $750 in your first year guaranteed
- [17:25]
A
and Honestly that hundred dollars back I'm putting it towards the zipline now.
- [17:30]
B
That's how you do summer.
- [17:32]
A
Exactly. Best switch I ever made.
- [17:36]
B
This is just one reason to join T Mobile this summer. There are 250 reasons. Find yours Savings based on the value of benefits included with experience beyond like entertainment and one year of AAA Classic and DashPass on us. Benefits may require activation. See plan for details. Get $100 via virtual prepaid MasterCard with eligible ported no cash access and expires in six months. Issued by Sunrise Banks and a member FDIC. Allow eight weeks.
- [18:08]
A
Every sale comes down to a single second, the one between buy now and maybe later. PayPal is built to help your business win that moment with a checkout experience that feels certain, reliable and familiar with a global two sided network and hundreds of millions of buyers who already know us all to keep you in control. However buying happens next. New markets, new AI powered selling services. A whole new agentic era where you decide how your business will show up and stand up. PayPal is built to help your business come out ahead. We're built for payments, built for growth, built for Agentic PayPal open built for all business. Visit PayPalOpen.com to get started. That's PayPalOpen.com this is Tony Ayo from
- [19:04]
C
the Real Report with Tony Ayo and Uncle Murder. You ever notice how everything keeps going up? Rent's going up, Streaming services are going up. Even your favorite burrito spot suddenly thinks salsa should cost extra. But with Boost Mobile, you and your phone bill don't have to play the Willis Go up Soon game because Boost Mobile has an unlimited talk, text and data plan at a price that'll never go up. It's the same price you'll pay for Life and meaning you're set to never worry about your bill increasing again for as long as you're on the plan. While the world keeps finding new ways to nickel and dime you, Boost Mobile gives you unlimited wireless at one set price for life. Imagine something in your budget actually staying the same. You'll pay the same for unlimited wireless when you're posting mirror selfies in your 20s. And when you're posting mirror selfies in retirement. Some things never change. Switch now for unlimited wireless at a price that'll never go up. Only at boost mobile. After 30 gigabytes, customers may experience slower speeds. Customers will pay $25 a month as long as they remain active on the Boost Unlimited plan.
- [20:03]
B
Hey, it's Ryan Reynolds here from Mint Mobile Now. I was looking for fun ways to tell you that Mint's offer of unlimited Premium Wireless for $15 a month is back. So I thought it would be fun if we made $15 bills but it turns out that's very illegal. So there goes my big idea for the commercial. Give it a try@mintmobile.com switch upfront payment
- [20:25]
A
of 45 for 3 months, $90 for 6 months or 180 for 12 month plan required 15 per month equivalent taxes and fees. Extra initial plan term only greater than 50 gigabytes. Me slow when network is busy. See terms.
- [20:35]
B
So let me talk about a systemic dimension here because some people like just. I just want to live my best life. This whole system is rigged and all that kind of stuff. And this is from my book Capitalism for All, which again, which is now a bestseller. Let me acknowledge structural realities not to excuse inaction, but to make this message honest and defensible. The argument from Capitalism for All for all that ownership gaps are not only behavioral, they are, were in part deliberately engineered. I want to acknowledge that that's an is. I want to acknowledge that relationships are rigged. I mean if you go to. Not literally, but if you go to Harvard, people don't just go there because it's better quality education than a university or college down the street from Harvard. They go there because the relationship you're going to get at Harvard as you go to college there are you're going to hook each other up for the next 30 or 40 years. So if you hang around nine broke people, you'll be the 10th. The opposite is also true. So a system that is designed to game you. I want you to game it. If, if you're not working the system, the system is working you. We've never mastered financial literacy or capitalism free enterprise for most people unless you come from wealth. So it's what you don't know that you don't know, but you think you know. And the system is set against you. But I'm trying to set you free. Let's ungame this system. That's what I'm trying to do with Capitalism for All. And I've told everybody who's read this book if you don't agree by the preface, the preface, that this book is transformational. Just send it back to my office with your receipt and your cost of postage and we will send you a full refund. I will personally do that. I've donated the proceeds for Operation Hope to Operate Hope, my financial literacy philanthropy for the all of 2026 for my book Capitalism for All. And I'll donate that book. Copy that you sent back to me to a library. No one sent it back to me. In fact, if you look at the reviews so far, they've been all five star. Now, I want to be honest with you about something. I'm not standing here pretending the playing field is level. It is not. The system was not designed with everyone in mind to be at the table. Redlining was real, as in real estate redlining. Discriminatory lending practices was real in many places, probably still are communities deliberately cut off from the wealth building machinery of this country. That is historical fact, not an excuse. But here's what I also know, and this is the argument I make in my book Capitalism for All. The answer to a system that excludes you is not to exclude yourself further. To argue with a fool proves there are two. Even if you're arguing with yourself, the answer is to demand a seed. To quote my friend Stephanie Rule to expand the table and add a chair. Build the capacity in the capital to buy one, as in a seat at the table if you have to, and then hold the door open for everyone to follow behind you. That's what I'm trying to do here with this podcast and my Straight Talk Live series and my book and the work of Operation Hope and the speeches I give, et cetera, et cetera. I'm trying to open the door and hold it for those behind me. To quote James Brown, I like the James Brown version of affirmative action. Open the door. I'll get it myself. It's a hand up, not a handout. The system needs to change and it is changing, by the way. But you cannot afford to wait for the system to save you. You have to move and you have to move now. AI is coming like a train and is going to threaten everybody's sense of entitlement or I'm going to be okay syndrome. You're not going to be okay. Your job's not going to be replaced. I put this in my book Capitalism for All, Whole chapter by AI. But your job may be replaced by somebody who can use AI that requires you to move to bob, to weave, to flex, be flexible to gain new skills, to not sit as a renter of your own life. Now, while the door is still open, I want you to slam it open further for others and for yourself. In other words, I want you to get out of your own way. The real cost of renting a life. The Federal Reserve Survey of Consumer Finance in 2025 along with the Aspen Institute and the U.S. census Bureau have just absolutely compelling statistics. In 2025, the average homeowner has a net worth of $430,000. Had a net worth of four hundred thirty thousand dollars. The average renter. Hold on now. Same income level, paying the same amount of rent. Indoor mortgage payment in aggregate dollars, dollar amounts. The average renter has a net worth, had a net worth of $10,000. I'll repeat that in 2025. The average net worth of a homeowner paying the same amount for shelter and making the equivalent in income. This is why I keep saying we over index on cash, dollars, money, the bag, getting that money. It's irrelevant. All money is an exchange of value. You want to build wealth, you build wealth in your sleep. That so? The average homeowner had a net worth of $430,000. The average renter had a net worth of $10,000. That is a 43 to 1 gap again, that's according to the Federal Reserve data. Now, who do you think this hits the worst? Black people who have 43, 44% homeownership rate compared to their white counterparts. Right. So we're not owning homes. We're chilling. And there are other groups too, but I'm. We have the lowest credit score, the lowest access to prime credit, the lowest homeownership rate and the lowest net worth. And I'm tired of it. I'm sick and tired of being sick and tired. And so we have to break this cycle. So I'm giving you these and other numbers not because I'm an accountant or I love numbers. I like math because it doesn't have an opinion, but because numbers tell a story that feelings can't argue with. So renter versus homeowner, 30 years, two people, same annual household spend, radically different outcomes. Two 28 year olds, same income, same city, same starting housing budget of approximately $24,000 a year, $2,000 a month. One rents, one buys. Again, I want you to take this part, clip it out and share it to everybody who says ownership is stupid. The median US home price in 2024, $427,000 with a 10% down payment, $42,700. And by the way, if you're a person of color, you're a woman, you might be able to get down payment assistance of about 10% from an FDIC insured bank.
- [27:55]
C
Hello.
- [27:56]
B
One of the few times where being a person of color, being black is an advantage. I'm joking, but I'm serious. And if you don't know these programs, you're not aware what I'm talking about. Go to Operation Hope online. The Hope in Hand app. Download it on your Android or Apple device, iOS device or go on our website at operationhope.org or call 888388 hope get a hold of one of my people. I suggest you go to the app. That way you're in the queue and it's, it's hard to miss it because you're in the queue on the app versus you calling somebody and they just missed the call. My team will walk you through this, but okay. 10% down payment and a 30 year mortgage at let's say 6.75% to make this reasonable. Monthly payments about $2,490. The home buyer spends modestly more in early years. By year 8 to 10, the renter absorbing 3% annual rent increases is spending the same or more per month. Now I'll also tell you that in the 30 year mortgage, 20 of those 30 years are probably the interest. That's not a negative, that's a positive because the US tax policy in this regard is designed to support homeownership. So you get to write off most of those mortgage payments against your income. That's why if you do a detailed tax return, you get that back in a potentially as a tax refund against. Talk to your tax people and talk to my people at operational. Back to the example the renter 30 years later. Total rent paid over 30 years at $2,000 a month with 3% annual increases. Hold on to your boots. Approximately $1 million and you have nothing to show for it except a doorman who says yes sir, yes ma', am, who don't care about you either. They're getting paid equity built from those payments. 0 assets owned at year 30 nothing. Average renter net worth $10,000 according to Aspen Institute and the Federal reserve. The homeowner 30 years later mortgage fully paid off at year 30. US median home prices have risen over this period 118% after inflation since 1970. This is a census bureau. So a $427,000 home purchased today is conservatively worth 700 to $850,000 in 30 years. And I think that's that number is low. Equity built through principal reductions alone approximately $200,000. In this example, total asset value at year 30, let's say $800,000 owned free and clear. Average homeowner net worth $430,000 according to the Federal Reserve. And I think these numbers on the homeownership level are very low. I think over 30 years that number is easily double that. But I'm just Being conservative. For those who want to argue, let's just hope for the best, expect the worst, and condition your mind for whatever happens. I'd rather underestimate and overperform than overestimate and underperform. But in this example, same income, same city, roughly the same monthly spend on Shelter. Thirty years later, one person has an $800,000 asset they own outright. The other person has $10,000 in net worth and a landlord who just raised the rent. Again, same money, same year, two completely different financial lives. That is not an accident. That's a decision. And most people don't even know they're making it. They're just living. I don't. I'm just chilling. I'm lit. No, no. You're making a decision every day. The wealth gap between homeowners and renters has grown 70% since 1989 and is still accelerating. 71.5% of renters say they would rather own, but fewer than 15% prefer renting. Again, these are the Federal Reserve numbers. 2025. Renters are spending 58.5% more in real terms than renters did in 1970. The rent trap tightens every decade. That's according to the U.S. census. Only 39% of renter households earn more than they spend, which is why the down payment never materializes. 78% of homeowners own stock and appreciating assets. See, it becomes. Ownership becomes a habit. Once you own one thing, you want to own other things. Only 25.7% of renters participate in the stock market, according to Oxford Academic and the Federal Reserve. See what I'm saying? Culture, mindset. It's a habit. Success is a habit. Compound interest works on both sides of the ledger, people. If you're building equity, it works for you. If you're paying rent, it works for your landlord every single month. When I own those homes, they just kept appreciating in value. I'm not a genius. It's just the magic of compounded interest. In fact, when I own the homes, 700 of them, just about annual income and annual expenses almost equaled out. What I really benefit from was the appreciation over time. That's just the way compounding works. There's something that happens to a person when they stop believing they can own anything. And it doesn't stay in the financial column. It bleeds into how you carry yourself. The most dangerous person in the world is a person with no hope. And it bleeds into the risk you won't take, including on yourself the table. You won't sit at because maybe you're intimidated or you don't feel like you're worthy. The deal you won't ask for. What winners cannot pass on. Equity assets, A family legacy. Again, I'm not downing renters. I was a renter. I own rental property. It's a natural course of life. I just want you to have a life plan that transitions you out of that in three, five, eight years. Don't stay in that for 20 years. Don't just decide, I don't want to be an owner at all. Because you'll be broken for life. Your grandchildren will be shaped by the decision you make this decade. As an old southern saying, no matter how much I love you, my son, or my daughter, if I don't have wisdom, all I can give you is my own ignorance. So out of love, we pass down bad habits from generation to generation. How the Poor Can Save Capitalism is another book that I have, and I want you to read that, because I talk about ownership as community transformation. God doesn't create renters. All right, let's talk about spirituality and identity costs. God doesn't create renters. He creates stewards, right? And nobody washes the rental car. Like, nobody rents a car from Hertz or wherever. You budget rent a car and takes it through a car wash and polishes it up every day. And this is not the mindset of people rent. You drive it every day and you put enough. You put gas in it if you have to, but you let it get dusty and whatever, and then, you know, you take it back to the owner and let them deal with it, which is hurts. Or budget and let them wash the car. That's why they have a huge washing bay there. Nobody washes rental cars. There's a mindset, right? So God creates stewards. There's a difference between being broken, being poor. Being broke is economic. Being poor is a disabling frame of mind, a depressed condition of your spirit. You must be. You must vow never to be broke again. So there's a difference between someone who takes care of what belongs to someone else and someone who takes ownership of what they've been entrusted to build. I can. You can always tell when there's a renter in a house because the lawn is up to their eyebrows, right? The ownership mindset. What? Ownership is not. Not just buying a house, not just a class status marker, not available only to the ultra already wealthy. Please hear me on that, because it starts with a mindset. So who is this for? Who's this podcast for the excluded, middle and the burgeoning working class, those who are strivers. This is the capitalist for all argument made personal. This is not the wealthy I'm talking to, not the hopeless, but the people in between who are close and don't know it. I'm not talking to people who have already made it. I mean I guess I could if they want a reset or a reminder, but that's not my target market here. I'm not talking to the people who have given up either because I'm not trying to convince you that you should be at the table. I can't guarantee that being positive is going to make you a success, but I absolutely guarantee you that being negative is going to make you fail. I'm talking to the people in the middle, the ones who are working, the ones who are trying, the ones who are one decision, one relationship, one piece of financial knowledge away from crossing into a completely different life. That is the group nobody talks about or talks to. They try to other than try to take advantage of them, separate them from their wallet. The financial system was not built for these people. The wealth management industry was not built for these people. Even a lot of the financial literacy conversation was not built around these people. My book Capitalism for All was written for these people. Written for you. This episode is for those people and hopefully it's for you. America's future dream makers this summer there are 250 reasons to join T Mobile
- [38:11]
A
Girls Trip booked and switching to T mobile help make it happen with experience
- [38:16]
B
beyond switch and get $100 back plus $650 in value in built in plan benefits. That's $750 in your first year guaranteed.
- [38:28]
A
And honestly that hundred dollars back I'm putting it towards the zipline now.
- [38:33]
B
That's how you do summer.
- [38:35]
A
Exactly. Best switch I ever made.
- [38:39]
B
This is just one reason to join T Mobile this summer there are 250 reasons find yours Savings based on value of benefits included with experience beyond like entertainment and one year of AAA Classic and DashPass on US benefits may require activation. C Plan for details get $100 via virtual prepaid MasterCard with eligible ported, no cash access and expires in six months. Issued by Sunrise Banks and a member FDIC. Allow eight weeks.
- [39:11]
A
Every sale comes down to a single second. The one between buy now and maybe later. PayPal is built to help your business win that moment with a checkout experience that feels certain, reliable and familiar with a global two sided network and hundreds of millions of buyers who already know us all to keep you in control. However buying happens next new markets, new AI powered selling services. A whole new agentic era where you decide how your business will show up and stand up. PayPal is built to help your business come out ahead. We're built for payments, built for growth, built for Agentic PayPal open. Built for all business. Visit PayPalOpen.com to get started. That's PayPalOpen.com this is Tony Ayo from
- [40:07]
C
the Real Report with Tony Ayo and Uncle Murder. You ever notice how everything keeps going up? Rent's going up, streaming services are going up. Even your favorite burrito spot suddenly thinks salsa should cost extra. But with Boost Mobile, you and your phone bill don't have to play the Willis Go up soon game because Boost Mobile has an unlimited talk, text and data plan at a price that'll never go up. It's the same price you'll pay for life, meaning you're set to never worry about your bill increasing again for as long as you're on the plan. While the world keeps finding new ways to nickel and dime you. Boost Mobile gives you unlimited wireless at one set price for life. Imagine something in your budget actually staying the same. You'll pay the same for unlimited wireless when you're posting mirror selfies in your 20s. And when you're posting mirror selfies in retirement. Some things never change. Switch now for unlimited wireless at a price that'll never go up. Only at boost mobile. After 30 gigabytes, customers may experience slower speeds. Customers will pay $25 a month as long as they remain active on the Boost Unlimited plan.
- [41:06]
A
Wait, I came in for two things.
- [41:09]
B
How is this $47? All right, we're going to need a plan here.
- [41:13]
A
Just start simple with bank of America Advantage Safe Balance Banking. No overdraft item fees, no monthly maintenance fee if you're under 25. Plus as a new checking customer, you can earn $100 when you open an account and make qualifying Zeller debit transactions.
- [41:26]
B
Oh, that's actually really simple.
- [41:28]
A
Safe Balance Banking. One lesson thing to figure out. Learn more at BofA.com earn 100 terms and conditions apply. Bank of America and a member fdic.
- [41:38]
B
Here's what I want to tell these people. The one who is almost always there and doesn't know it. These people so close. I want them to know this. The gap between where you are and where you're trying to go is not as wide as you think or as wide as it looks. But you will not close it by renting your future. You close it by owning it. And that starts with ownership in your mind. Mindset. Because whether you believe you can or whether you believe you can't, you're absolutely right. You're not as far as you think. But you will not close the gap renting again. You close it through an ownership mindset. The four pillars of ownership mindset. You own your story. Stop outsourcing your narrative to your circumstances. Can I get an amen? You own your decisions, not your parents, not your zip code, not your algorithms on social media. Right. You own your development, your own personal development. Investing in yourself is not arrogant, it's stewardship. As I said in this T shirt, actually, you can. Number four. You own your legacy. Who are you building for? That question changes everything. I grew up with nothing. And I mean nothing. I mean, not literally nothing. My mom and dad worked, but I grew up in Compton and South Central and we had no inherited wealth, no legacy, no nothing. Nothing. And my parents couldn't help me. They were working class people. My dad owned his own business, but it was a cement contracting business and it literally was week to week, hand to mouth. My mother worked McDonnell Douglas aircraft. Way to Smith, Johnny Will Smith. You can read their story in my book, up from Nothing. And I mean, I slept in my car. I was homeless for six months to a year or more in my Montero Jeep in la. No safety net. And the thing that saved my life wasn't a program, it wasn't a handout. It was the moment I decided I was responsible for this, this thing called my life. I own this life. And when I owned it, I could start building it. I remember these inflection points. I remember a guy, I was in a suit. I'm going to work backwards. I was an investment banker, I don't know, 21 years of age, 20, something like that. And I was wearing a suit, I was in the hood. I had a nice old Mercedes car and convertible. I drove to see a property I owned in South Central LA and Watts. And I took a photo of the property. But as I took a picture of the property, wasn't these, these fancy phones now, this instantaneous. It was a digital handheld camera. And took a minute for the shutter to finish closing, capturing the picture after you hit the button and you could hear the click, right? And so as I was trying to get the camera out and push the button, a guy walked across the lens between me and the property. I didn't mean to get him in the picture. He just happened to be walking fast and didn't care about me standing there in the middle of the road. And he turned to Me and said, man, did you just take my picture? And I realized that moment that a rational answer didn't matter. What he really was saying was, I don't want my picture taken. And if you're taking my picture, you and I have a problem. I want that camera, and I may want your life. He wasn't saying that, but that's what he was saying. And it hit me at that moment. It was five to eight feet back to my car. He was about 10, 15ft from me. I couldn't sit there and negotiate with him because the most dangerous person in the world is a person with no hope. He would have taken my life or taken my camera or beat me up or mugged me. He didn't want to talk to me. He didn't want to negotiate with me. He wanted to take out his frustrations on me. I had to get the hell out of there. Don't hang around toxic people or environments. Don't try to reason with unreasonable people. I got back to my car, got in my car, locked the door, and realized that lesson. You cannot reason with unreasonable people. Sometimes you just need to bounce and watch you taking pictures of. There's another story where I was selling Fila NLSA sportswear out of the trunk of my car much earlier in my teens, and I had to borrow some money from this local gangster in my neighborhood. This was Compton. And I went to go pay him back with interest, and he said, what are you doing? I said, what do you mean, what am I doing? I'm. I'm paying you back. And he's like, no, you don't understand what kind of lender I'm. I am, man. You don't pay me back. We have a relationship for life. You borrow from me, we just figure out what you need, and I'll. You can give me some money. And, you know, we talked about it, and I'll make sure you have enough money to live. But, you know, you and I, we. We have a relationship. I'm a partner with you. I'm not your lender. And. And then at some point, I decide when you're free. That was deep. And he was serious. And he would have killed me. That's what he was really saying if I tried to get away from him. But God gave me grace. He looked at me and said, you know, you're not supposed to be doing this, man. You look like a good kid. I know you're from the neighborhood. Your mom is really raised you well, she loves you. Tell you what, you're not supposed to Be here. I'm gonna let you go. Don't come back here. You're not meant for this life. I bounced. Learn another lesson there. Know who you get in business with. Know who you're borrowing from. Know. Know who you're tying up with. I've only made that mistake once since that time that I'm aware of, and I am paying a tax for that. Actually, right now. I can't talk about it right now, but it was a lesson I learned, and I've learned it again as an adult just being naive and thinking the best of people and. No, no. You want to know the facts. You want to know what you're getting into in advance. Read the fine print. Understand the arrangement that you're getting into with whomever. There's been a lot of these little aha lessons that have stuck with me forever. There's more, but I think you get the point. You cannot build a legacy on a lease. You build it on a deed, starting with a deed to your own mind. So here's some practical on ramps for you. I want you to open a. A brokerage account before you're 25. A stock brokerage account. You can do it. You can do fractional investing. By the way, is a friend that I had on this podcast who created a company called Public, and he does fractional accounts. But you can go to a number of different platforms, whatever brokerage house you. You want to do business with. We have a new NASDAQ partnership that teaches financial literacy, investing, Operation Hope does. And just go to the Operation Hope and NASDAQ foundation website and get boned up on investing, and then figure out a firm that you're comfortable with and do fractional investing or full stock investing. But open an account, 20 bucks, 50 bucks. You pick the number, you can participate in the marketplace. You don't need to be rich. Understand your credit score as a financial tool, not a grade. Okay? Starting a business, even while working for someone else is a thing that you're 9 to 5 financial 5 to 9, and of course, access Operation Hope for scholarship, financial literacy coaching, and counseling. So now let's get into part two of this podcast. So now you know what we're building toward. Ownership of your life, of your legacy, of your future. That's a destination. And I want to be clear here, I'm talking to the people in the middle. I'm talking to you. Not the ones who've already made it, although they may be inspired by this too. Not the ones who've given up. Because to argue with a Fool proves there are two. If you don't want to save your life, there's nothing I can do about it. You got to come to that conclusion yourself. The ones who are close and don't know it yet, that's my target market. And that's. I'm convinced most people, I'm just fascinated by people who want to argue about this book, capitalism for all, saying it's this and it's that and haven't read a page. Want to down capitalism while they're using capitalism on the phone, that's capitalism. Driving a car, that's capitalism. You're paying a car note, you bought the phone. Talking mess in a house, you're paying rent or a mortgage payment, that's capitalism. In a job, that's capitalism. You trading your human capital for a paycheck and go on and on and on. You're in this world, you're in this world, but you don't want to understand it. And what I said to people, again, read to the preface, if it doesn't blow your mind, I'll buy the book back. So what's your risk? But people just convinced. Oh, I'm just convinced. They don't want to take ownership or responsibility. They don't. They don't want to admit that they're petrified. They're afraid of what would happen if they try and fail. You know, worse than where you were before. It's like somebody says, why should I try God? Because God cannot possibly mismanage your life worse than you have. Give him a shot. But let me stay here at this point for a few more minutes, because there's something I see in this generation that's really positive. And I say this with love, not with criticism. There's so much potential, so much optimism, so much brilliance, so much aspirational desire that. That's really has me hopeful. But something worries me and it has to do with what people think it takes to become successful. A lot of young people I talk to believe that one thing is enough, that being pretty is enough. Just look at your social media. They think that because they're pretty, that means everything else is right and tight. And they can talk mess and be smart, Alex, and all that kind of stuff, that being smart is enough, that having a degree is enough, that being funny is enough or talented or well connected is enough or charismatic or handsome. Let me tell you something, it isn't. And by the way, you can have several of those things. It's still not enough. And I need to tell you why, because no one Else is going to tell you. And that's what this part two is about. One thing is not enough. Even if it's a number of one things, it's just all an illusion. Social media rewards surface appearance, wit, virality over depth, credentialism. The degree has a destination now, the starting point, right? Beauty culture. The idea that being attractive is a career strategy or something can get you paid. It can get you paid temporarily if that's what you want to do. They call that something else, by the way. But look will fade. Somebody else will be 20 and gorgeous and then what are you going to do if that's all you're trading in the smart kid trap. Being told you're gifted and then coasting on it. I know a bunch of kids like this, this and it's just not enough. You got to hustle, you got to work hard. I'm getting ahead of myself. Being pretty is not the same as being attractive. Can I get an amen? I'll say it again. Being pretty is not the same as being attractive. There are a lot of very pretty ugly people. Attractive people draw others through character, energy, authenticity, presence, not just appearance. I can't say this enough. There's a whole bunch of very pretty, very ugly people, men and women. Being smart is not the same as being wise. Intelligence is a tool. Wisdom is the judgment to use it well. And wisdom costs something. It comes through experience. Having a degree is not the same as having a skill or an insight, a value proposition or a career. Being funny or witty is not the same as having substance. Attractive people aren't just good looking. Attractive people pull things toward them. Opportunity, trust, loyalty, legacy. That's built, not born. Only in the dictionary does success come before the word work because it's alphabetical only place. So let's break this down. Work, consistent, unglamorous, repetitive. It's a repetitive effort that most people abandon. They want to say in late, long lunch, leave early. Everybody wants to get to heaven. Nobody wants to die to get there. I'm sorry, it's just there's no free luck in this is free, it is stale. Love is work, by the way. Whatever you love is going to drive you crazy. Husband, wives, best friends, ambition, education, you name it. Girlfriend, boyfriend, Whatever you love is gonna drive you nuts. Struggle, the pressure that reveals and refines character, resilience. It's not bouncing back with bouncing forward with something learned grit. Doing the work on the days you don't feel like you want to in the years no one is watching. All the years that I'VE worked. Everybody just laughed at me and talked about going out to the clubs and whatever. Now I could buy the club and they can't get into it, right? They all came to me for jobs and interviews and. But they weren't interested in that back then, by the way. There are no ugly billionaires. There are no unattractive multi millionaires. Okay, Success is the greatest revenge. But it took years and years of me staying focused where everybody else was trying to get their immediate gratification for free. No. Sacrifice. Wisdom. The compound interest of experience, failure and reflection over time. Leadership. The willingness to be responsible for outcomes, not just activities. Sacrifice. Giving up the good for the great. The now for the later. Can I get an amen? We're going to church here. Values. The invisible architecture that determines what you built and what you break. Relationship capital. Who you've invested in and who would go to war for you. Your ride or dies. Talking a little. The discipline of doing over announcing. I'd rather underestimate and overperform than overestimate and underperform. Somebody told me recently, john, you move very quiet. I'm like, are you sure you're talking about the right person? Most people would say I move very loudly. No, no, no. You teach loudly. You inspire loudly. You walk into a room with confidence, quiet, confidence. Loudly. Your presence is loud. Your platform is loud because you're trying to impact millions. But you move quietly. You do things and then you talk about them. That was a real compliment. It came from a real person. By the way, none of these traits show up well on a highlight reel on social media. That's the point. Get it? I'd rather you respect me and learn to like me than like me and never respect me. Stripes, scars and wisdom. Wisdom is not available on a download. It comes with time loss and the willingness to be taught by experience. The stripe a mark you earn, not inherit the scar. Evidence of a risk taken, a lesson survived. The story. The difference between someone who has lived something and someone who has read about it. Can I get an amen? I just, by the way. I just want people to read, by the way. I mean, this scares the heck out of me. Kids can't read. Young people can't read today because social media doesn't reward it. So you can't write your signature. That's deep. You can't write your cursive or yeah, long form signature. And it's not an X and. And thus not T, H, A or ta. I mean, like, you got to understand math. You got to understand how to Write, you got to read. Because artificial intelligence is going to reward and technology is going to reward constructive thinking, not dumb moving with social media algorithms, by the way, that are owned by somebody else. Somebody can pull the plug on that social media at any time they like because they own it. You don't. That's another podcast or another time. So I hope this has laid a foundation for you. Because wisdom isn't free. It has a tuition. The bill comes in the form of time, disappointment and the humility to learn from both. I take no for vitamins. Success is going from failure to failure without loss of enthusiasm. Here's the full stack. Person. Not a person with one impressive attribute, but a person who has done the patient work of building a complete human architecture. This is where it gets sexy. I think we've made dumb sexy by the way. We dumbed down and celebrated it over the last 20 years. And it's time to make smart sexy again. That's a Quincy Jones quote. Want to give him credit? He says it takes 20 years to change a culture. And then I added, you know, we made dumb sexy. So it's time to make smart sexy again. So here is the architecture for building a complete human being. Pretty and purposeful. Write these down. Smart and servant minded. Servant. Leadership minded. Educated and experienced. Talented and trustworthy. Gifted and gritty. Humility. But also hunting. You're at this game, you're all in, but you have a humility about how you go about the game. I'm not here to take anything from you people. Your beauty is real. Your intelligence is God given. It's real. Your degree is real if you have one. But I'm here to tell you it is not enough. And I need you to get that like real quick before the world sends you a message the hard way. Because a train is coming and it will mow down everybody in this path if you cannot get in the way. It's called the future. And it is about to change everything you know by 2030. And the government's not going to save you. They're out of that business. It appears. So you're really have to save yourself. And I'm trying to give you the tools to do that for yourself. But why is it not enough? Is it because you're not enough? No, you're enough. In fact, you're more than enough. You've just not done enough yet. Your value actually has to be realized and optimized. You've got to live the life. What Proverbs says, to be poor is not to not have anything. To be poor is to not do anything. And lazy hands make a man poor. There's proverbs in the Bible become irresistible good people. This is where we bring it home. I'm going to ask you something and I want you to sit with it for a minute. When you were gone from this earth, what will you leave? What will you have built that's meaningful? What will your children have that they didn't have to start from zero on? Because here's what I know. Every generation has a choice. You can be the generation that consumed or you can be the generation that constructed. Which one are you? The generation that rented or the generation that owned? Which one are you? Pretty fades. Smart without wisdom, wonders, degrees without grit get you to the table, but not to the head of it. And nobody likes arrogance. People who think they're smart just because they have a degree, it's unseemly and no one says it, but they dismiss you as soon as they can. They don't want you around them because you're full of yourself. A humble spirit is a beautiful thing. I'm glad that I didn't have a bunch of degrees and all that stuff because I just show up paranoid every day, ready to work. I know I've got to be smarter than everybody else in the room. So my insecurities actually turned into a strength. Rainbows after storms. You cannot have a rainbow without a storm first. But what about the person who has worked, who has failed forward and grown up and built something real? That person becomes irresistible. Do I have your attention yet? Not just to other people, to destiny itself. Stop performing. Start building. The world already has enough performers. It needs builders. Stop rocking the mic and start owning it. Stop bouncing the basketball and decide you want to own the basketball team. If you see me ever at a club at two in the morning, you better know I own it or I'm being paid to be there. Own your mind. Own your future. Own your legacy. That is the assignment. That is the standard. And I believe, I genuinely believe this generation is capable of meeting it and exceeding that standard. Don't prove me wrong. I am your biggest fan. But I need you to stop performing and start building the world. As I said, and I'll say again, already has enough performers. I want you to live your best life. I want you to wake up tomorrow committed to being the best version of yourself. I want you to know that God does not make mistakes. You may make a mistake, but that doesn't make you a mistake. That just means that you just are living this life a Saint is a sinner that got up. We're all angels with dirty faces. I want you to stop navel gazing. Stop the paralysis of analysis. Stop criticizing other people. Stop beating yourself up and hiding behind a fake social media algorithm. I want you to sit down and become, over time, reasonably comfortable in your own skin. You're not as good as your compliments. Hello. You're not as bad as your criticisms, including the ones you give to yourself. You just are who you are and the sooner you live and decide to live an authentic life, the faster you'll get to the front of the line called the American Dream. I'm here for it. I'm waiting for you to join me as a partner at the table of aspirational success. Go get your book Capitalism for All. Read it, listen to it, consume it, and then collect people around you who are in your posse, who are part of your same mindset and build a whole community of exotic a giver and a giver. You can do bad all by yourself. I guarantee love and light. I'm out. John o' Brien Money and Wealth on the Black effect network on iHeartradio tell a friend. Let's go change the world. 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. I'm U.S. transportation Secretary Sean Duffy. We all seem to be in a rush these days, from work to driving our kids around. But when you're behind the wheel, please do not speed. A few minutes saved by going faster is never worth the risk. So follow the speed limit, enjoy the drive, maybe bring some snacks for the kids. And know that along the way you're getting quality time with your family, paid for by nhtsa. If you're a lineman in charge of keeping the lights on, Grainger understands that you go to great lengths and sometimes heights to ensure the power is always flowing. Which is why you can count on Grainger for professional grade products and next day delivery so you have everything you need to get the job done. Call 1-800-GRAINGER clickgrainger.com or just stop by Granger for the ones who get it done.
- [67:05]
A
I love the little everyday moments with my dog, especially treat time. But dental care? Not always so fun. Until we found greenies dental treats. These are more than just tasty. They're vet recommended and designed to support the four areas vets check the plaque, tartar gums and breath, their unique texture cleans down to the gum line and supports cleaner teeth after 28 days when fed daily. It's a simple daily habit that supports their health and gives us another moment to enjoy together. Greenies make health a treat. Shop now@greenies.com Some so called SUVs feel more like toys.
- [67:41]
B
You need a real vehicle that'll handle real life. A real SUV like the all new 2027 Kia Seltos with its best in class interior room. It'll make the others feel like toys. Check out the new 2027 Kia Seltos X line. It's real world ready Kia Movement that inspires limited inventory Available comparison based on publicly available data regarding Cargo Room in 2023 Entry All Wheel Drive CUVs as of May 2026 Entry All Wheel drive CUV class as defined by Kia Segmentation
- [68:07]
A
this is an iHeart podcast. Guaranteed Human.