Catch up with Patty Omally

PART I

PART II

YOUTUBE LINK

 

 

• Introduction and Molly Shannon Reference
• Nostalgic Movie Talk
• Convertible Accident Story
• Massage and Chiropractic Experiences
• Chickens and Composting
• Michael Dell's Foundation and Trump Accounts
• Investment Strategies and Personal Finance
• Poker and Card Games
• Military Ranks Discussion
• Military Ranks Explained
• Crypto Regulations Under Different Administrations
• The Tangibility Debate of Crypto
• Market Adoption and Future of Bitcoin
• AI and Its Impact on Various Sectors
• Exploring a Shooting Club Business Idea
• Real Estate Market Insights
• Tax Strategies and Financial Planning
• Conclusion and Final Thoughts

YOUTUBE PART I
YOUTUBE PART II
BLOG
PODCAST

That was Molly Shannon, and powerful. I'm 50 years old, and I kick, and I stretch, and I kick, that's right. 

Nostalgic Movie Talk

I was thinking at first, the dude from, was it dodgeball? What patches? O'Malley. He's like their coach. 

Oh yeah. Biz, this is how you do it; that's when we made great movies. Those were the good times of stupid movies. I took my dad's Vietnam vet, and I don't know. I think it was his idea, like he wanted to go see. I never would have thought he wanted to see this movie because he's just not that kind of guy.

He is older, and he is just kind of very conservative. I just didn't think he'd wanna see it. But Tropic Thunder 

Oh, such a great movie. Yeah. 

That dude, I'm telling you, you hear that Baseballs Twos coming out. Yeah, I did see that. Yeah. A remake or a reboot of Gremlins is coming out. Never really got into that one, but yeah. Great. Eighties 

movie. That was a great eighties movie. Yeah, but that's 'cause you, you know, grew up in the, you were young, you're younger than me, so you were probably into that kind of stuff. Yeah, for sure. 

I'm doing well, man. I got a new convertible. What, not a new convertible, new to you. A 2012 Lexus is two 50 convertible with white leather, blah la la la.

Nice. Kind of like a little gift to myself for being old, like a crisis, if you would. And, I was driving it. I'm here in San Jose for a little bit to hang out with the girls, yada. And then driving up 87, there was that big accident. You probably didn't hear about it, but there were like two people who died on it.

On the freeway. It was a woman with her little child and she was really sad. And I was in the one lane, I was behind a lady. And, the two lanes were open, so it made a legal lane change. And then so did she, but she didn't see me zip in, and she just sideswiped me in the new convertible.

The newish, I mean, it's 12, 13 years old. Yeah. It's new to me. Like it, it's a good car. Very, very minor damage. We were going a couple of miles an hour and, yeah, so,  

Massage and Chiropractic Experiences

Factoid about veto is, I hate massages. Like, do not, just don't like people touching me. Right. I don't know. It's one of those things. Had two professional massages before, and the first one was with like a hippie chick, and then like the second one was on my honeymoon in Jamaica, and I was on a cliff and a big pogoda with all these shutters. We closed it off, and I'm getting a massage. I'm like, okay, this is weird, but okay. Then she has me flip over, towel over the thing, and all of a sudden the wind just opens up, blows off my towel. I'm like, Nope, that's it. No more. It's like the universe coming down and going smack. I told you the first time. So ever since then, I've been kind of like, you know, and years before that I tried chiropractic 'cause I hnonot back issues, but, you know, I was sore.

I got talked into it. Didn't really like it, didn't take. So over the years, as you get older, you get strong, and then you get fat, and you get strong, and you get fat, and I'm getting to the strong part and telling myself I should go see a chiropractor just to see if it work After the accident, my neck was stiff, my back was stiff, and I'm like, fine. Called my buddy. He is like, Hey, I go, Hey, you got that chiropractor? And he sent me the information, lined it up, went there, and he started lining me up, and he goes, Okay, I'm gonna do your neck. And he goes, the first thing he ever corrected on me, he goes, crack my neck. And the funny thing was, it hurt so good. It's like I almost need it for like five years, like five, six years. And now I can look at it's still sore. It'll probably free up again, so I'm gonna see him a couple times, but yeah, and then you adjust my back. And I have had a pain in my back for a while, and that's been fine too, oh, that's cool. 

I've never been to a chiropractor, and I don't feel like I need to go. It's probably because I'm so used to it; however, I feel I'm thinking if I went all of a sudden, I'll have a similar experience, and I'll feel differently, and then now I got something else I gotta do every week.

Well, you know, so I told my buddy, I was like, after all these years of you telling me to go see a chiropractor, I'm like, I don't need a chiropractor. I'm not li hundred percent sold on it, but I tell you that one crack was worth it. Or how, I don't even know how much it cost me to show up. I just gave him my credit card. It was done. But blah, I didn't care. Yeah, because it felt so good. It was so nice that I just liked it, and now I still have pain, right? Because it's tender, but yeah. I don't know. I would say try it. Be willing to give it a try and see if it works. Yeah. No, I think you're right. Yeah. So, what's up with you? How's life in the fast lane? Life in the fast lane? It's good, man. I'd love this time of year. My family is out of town. Wife and kids are doing the Christmas thing. The grandparents, since I'm gonna meet up with them at the end of this coming week, which is good, allow me the time to focus on new stuff.

 

Keep us in the gym, 

all that stuff. 

Chickens and Composting

It gets really good workouts in this week without having to worry about it, but I think I told you we have 10 chickens. Sorry, there's just an amazing amount of. Chicken waste is produced by 10 chickens.

It's unbelievable how much these things poop. So, anybody out there, if you wanna get chickens, it's awesome to have fresh chicken eggs, and it is an amazing amount of chicken poop that you have to scoop every week anyway. Yep. So we had chickens, we had six, and then one of 'em died right away. And then a few years ago, another one died. But what I learned is you can layer and layer and layer in that coop and the walking area. And then that starts to compost. And I'll invite the worms and all the bacteria, the anaerobic and all that. So every couple of months, you just spin it around a,nd the chickens will go and compost it for you in the coop you have to clean that bedding out for them. 

Because you know they're disgusting birds and you just pile everything into a big pile, take everything that's in, into a big pile, and let it compost, and then you turn it up every three months, and then they come in and do their work, and they do an amazing job at composting that stuff for you. Because what they're after are Worms. I also had very little food waste. Cause whatever I gave to the dogs, I would give to the chickens, and they would eat the heck out. Anything. Yeah. I've learned that too, man, curious creatures.  Yeah. So, I did wanna bring up, like I said, I got a lot of questions on this. 

Michael Dell's Foundation and Trump Accounts

Michael Dell and his foundation made that big donation, like six billion dollars, I forget how many billion dollars they're putting up to help fund the Trump accounts for children. No. Like Dell computers, that guy, he and his wife. They made a huge contribution to help fund those accounts. So the whole Trump account is, you know, if you have a baby born in 2025 or afterwards, they will front-load that account with a thousand dollars.

The site's there is a site you can go to you can sign up for the updates. I think in July of 2026, the site goes live, and they'll start funding the accounts. The Dell family wanted to support this.

So they put together like another, he has a foundation that they do all kinds of good stuff and they're making like a six point some odd billion dollar additional donation to this to make funds available so that they can fund $250 to any child in the United States under the age of 12. and you have to also be in certain zip codes where the medium income is under, I wanna say it's $150,000.

So it's not everybody, but if your child's already. Being born, they don't qualify for this whole 2025 and beyond thing. They can at least get the 250 bucks. And then if your child is born in 2025 or beyond, you'll get the thousand dollars plus the So that's 1250 right away out the gate, that, you know, your child could potentially get funded into. Basically, it's a professionally managed investment account, if you will, for your child. So is that something that you can do because Oh no, it's a completely government-run site and Everything. But still it's really awesome.

I would probably imagine the middle of the road or maybe a little bit conservative. But it's not money that you have to put in. It's gonna be made available and frontloaded to something that's gonna be in the market that I think it's locked up to the age of 18. And then, you can access it, start a little business, or let it keep rolling. Maybe it's a down payment on the house or something. So it's gonna be interest-bearing. Is it gonna be like something that's invested like a 401k, or is it, does it give? Yeah, that's a good question. So it's not exactly clear, like I said, what the investment options are gonna be you  Yep. Can you share on your side? I should be able to. Yeah, because I've been actually wanting to talk to you about you know what, I need to drop these blinds, the sun all of a sudden came out. Natural light is good. It's like right in my eyes. So, are you home or are you at work? I'm home. Banker's hours. 

I've been pestering my children about contacting you and starting their 'cause my girls are 19, my son's 23. He might be going into the Air Force, but no matter what, this is the time that they need to start taking at least a hundred bucks a month, if not 500 bucks a month. And just stacking it away, letting you do your magic. Love to have you do an intro with you, too. I don't know what the thing is. Is there a minimum amount before you want to talk to them? Or do you wanna just have that conversation with them? It's all about establishing the habit. Some of the young men are just about establishing the habit, getting out of the gate the right way, you know, let me share this. That happens in the morning around July and August for me, and it's like appearing right there, right when I'm doing my video.

This is the first time I've used this room at this time of the day. Let's see, accounts share. Are you seeing this site show on stream? There we go. 

Yeah, so this is Trump's account on do DoG. So it is a government account. I'd encourage anybody who has a child or is. Pregnant or planning on children or is adopting here soon, either way, you could sign up for the updates for when everything goes live here. It has this December 17th date on here. Not sure what that'll mean, but either way, if you have a child born in 2025 and beyond, they're gonna get this a thousand-dollar gift funded into this account, and then down here talks about Michael and Susan Dell's contract, 6.25 billion. That's a lot of dough, Joe. That's a lot of dough. So here we go. Trump accounts are new investment accounts, so they're investment accounts. For children under 18, families can open accounts in early 2026 and contribute starting July 4th, 2026.

Eligible children born from 2025 to 2028 may receive a $1,000 pilot deposit from the US Treasury. And all eligible children may receive deposits from employers or major philanthropic contributors. And anybody can contribute to it too, make it grow more. And it's not required to be spent on any one thing. I think the only requirement is that it can't be touched till they're age 18. So it's meant for later. Not all the details are out yet, like how it's gonna be invested, what the options are gonna be.

None of that's there yet. So they're kind of building that out right now. So anyways, I guess the takeaway is, if you have a child who's Michael Dell. It's nice that they're doing that. Two 50 bucks is not a lot starting out, but it could, you know, if you add to it every month. 

It becomes something huge. Even if you like a hundred dollars every month. Does it compound annually or monthly? Well, it depends on what it's invested in, right? If it's a market-driven, mutual fund type or et TF type thing. If you with that initial deposit, and then you put in a hundred dollars a month 

Yeah.  But you know, the market's averaged eight, 9%, something like that a year. It's up, it's down, it's average that so you do that math forward and it can really grow to the two 50 by itself.

Two 50 by itself, adding a few bucks a month or something a year when a tax return comes in, and just some extra money in the house, it can't really start to add up to, yeah, 25 got a nerd. The Nerd Wallet thing, I'll share it with you real quick. If you put in a hundred bucks a month after that, a thousand dollars comp. Can you see that? Yeah. There you go. A thousand dollars, 25 years of growth. 8% interest every month.h Yep. It's worth a hundred grand. 

That's nothing to sneeze at, right? No, because when you think about it, it is 1200 times 25. Well, you're putting in 25,000, 20, $30,000. So that's not so bad. And if we do it with you, you get an average of 25% annual, you'd be worth, how dare you, sir. I know you would go to jail for saying that.

That's right. Whether love 'em or hate 'em, not a bad idea to encourage folks to put some money away for their kids, and I always look back and think it's like, I should have taken a civil job. I should have done this. I  was just talking about it the other day because the amount of money I have is. Equitable. It's not like I can go and buy a 400-foot yacht, right? Not yet. Not yet. And if I coulda, would've, shoulda, we did what we could with what we had, and we lived under our means. So we're semi-comfortable now, but now we'll see it compound even more.

But I wish I had started earlier. Yeah, Same. Although I would say, I had the terrible, not terrible, that's not the right word. There's just wasn't much education around saving money in my family. We were just a working-class family, month, month, maybe a little bit better than that.

We weren't like living foot to mouth, but you know, it's a working-class family, is what I'll say. So there wasn't a whole lot of talk about saving money or what to do with money or money at all. Talking about it was mostly like a negative energy around money. Money was the root of all evil.

 

Maybe not so much that obvious, but like there was always like this tension around money, there was definitely this feeling like there wasn't enough of it, it was scarce, and there was never any talk about how to make more of it or like, how do you multiply or stuff like that.

There were never talks about that. I do remember I was like 20, 21. long story made short is I met somebody who just like got me to like, man, just start saving 50 bucks a month into a mutual fund, and I just became a habit where, so I would just pay myself first and started that young.

Thank goodness for that. Otherwise, I would probably have never put any money together because I always just would've been spending it. It's got me to start saving. 

I bought a private money loan, part of it. I put a, like a hundred thousand into it, and it's, I'm getting 15% annual on it. Soitt works out to be like 1200 bucks a month or change. But that just goes back into the pot. 'cause I'm not looking at that for income.

I'm looking at that for equity build. And then, as soon as this house sells, then I'll take that cash and put it into something that compounds, over time, it will be like 20, 20, 20 5% all in. Because what they do is they give you a 10 or 12%. Return cash on cash, but that equity stays in there, and then afterwards they sell off the asset. And then what I'm looking at is buying land, entitling it. And then once they sell the land off to a developer, like a KW or whatever, then that money comes back to everybody. And I get a big dish out on that, too. So it'll be like anywhere from 20 to 30%. So I'm thinking 25, maybe 23 total. Nice.

Right on. But you, you can't put all your money on that because there's a lot of risk. The market could crash. Yeah. We're looking at the market kind of slow down right now, and everybody, you know, there's always The crash bros. I see 'em all the time. They're like, oh, the market's.

Well, we haven't had a dip since 2008, and unemployment's up. Yep, absolutely. But the stock market's still doing right. It could be artificially inflated just like 2008. Just like the.com buzz. Just like everything else. I just watched something on China, about how Chinese companies got registered on the New York Stock Exchange. This happened in 2011. I dunno why it does that. There was this whole thing about how it was just artificially inflated. Some companies were just selling hot air, even though it was like dirt or what have you. And a lot of people, including people who were like teachers, they lost their ass because the retirement companies invested in these things and were like, trust me, trust me. And there was a huge bomb. I wanna say it was 2011 to 2015 that happened.  

In Chinese, is the equity market or marketplace?

Stock market.  Oh, some kind of rule happened, and Fund managers would bring Chinese companies over, and Oh, okay. Got it. Tell 'eo, Hey, we can make you millions of, millions of dollars. And these companies were making hundreds of millions of dollars doing this.

And it was the second-largest loss of money since the Madoff incident. Wow. 

This sounds faintly familiar. It's on Tuby. Okay. text  

I was gonna ask you. I wanted to go back to the investment that you were just talking about. Just wanna make sure I have details right. So you invested a hundred thousand dollars right into it, which is essentially like a hard money loan. It's a hard money loan. They call it private money now because hard money is a bad word. So it's a private, money situation. Right. So you had to be a credited investor, is my guess.

Correct. And it filters you that Way. For how long is the, what's the term? 

Three months guaranteed up to 15 months. It's as long as it takes until he refinances. iIt'sa short term loan. It's collateralized against that property, right? Yeah. So if for some reason they default, my broker will go after them and foreclose on it. 

Foreclose on it. So the risk is right. you get something less than the a hundred K back, whatever that number's gonna be in the worst case scenario.  You get something. If not, you get the, you, you can run. It's it's a risk. Just like buying Chinese stock in the us then the New York stock has changed. You, can write that off. It's not like I have millions of dollars that I could just throw round. Right? Yep I'm just picking and choosing, and that one just looked at me and said, yep, that's it. 15%. Because most of 'em come in at like nine to 13, nine to 12%. Yeah. I'm like, yeah, no. Yeah, no, yeah, no. That one came in. I'm like, so done. Sent him the money. It was done.  Yeah. And I, do a timeframe too. It's three months to 15 months. the next versus the syndications, you're pretty much stuck anywhere from three to five years. Yeah, And you have to believe and trust that they're, and granted, they have to give you money and they give you money quarterly. And if they start drying up, there's gonna be an issue with that. 

Yeah. So could be a Ponzi scheme. There's one company out of Florida, and now they're in New York. And the first, when I looked at their address, it was like a rehab company for the address.

So it was really weird. Yeah. More risk, more reward for sure. That's really the, point or the main thing to think about is, as awesome as these opportunities are, you can't put it all there. That's just too much risk. if you got a certain amount 10%, 20% of it, maybe even that might be a little high for some folks investible assets to go to this. these are great opportunities up there. There's a lot of them. It's just figuring out the one that's right for you. Scott Hill, he's been on our show a couple times. He's gotta turn me on to this, company, and he does it. And I know that, the market could turn tomorrow and all of a sudden the stock market goes down and everything else goes down. And we're in, the worst economic crash in the world. I understand that. But it will be backed up by that real estate. And we will own that real estate some way, somehow. And if that happens, like you said, I don't put all my ducks in that one bucket. I'm buying property, you have a huge chunk of my money. And you're investing it wisely. And like I want to talk about stop-loss, like if any, of those things get to 5% low, then the highest point, then 

I want to get rid of it. But I don't know if that's something you can trigger up. And then, I have a whole thousand dollars. And to buying the US 30 scalping. Just learning that. And I got it up to like 14, $1,500. And then one day I lost some more. And now it's like around 900,000 plus or minus.

So it was just a frustrating couple weeks. 'cause the coach was like, oh, you have to sell. You have to sell. I'm like, no, we're gonna buy. And then we didn't. I sold and then it went up. I'm like, shit. 

Yeah. That stuff is, or those kinds of opportunities, which you just described man, it makes you really, you could really, 'cause people play with bigger numbers there, right? They play with huge numbers. But man, I'm trying to the dragon and riding the dragon of the market. And, when it gets in and out, it's, an emotional ride because of, I think it's also some people get really it could be addictive if you have an addictive personality because it's, almost like it's not gambling.

there's a rush to that for, a lot of folks, they get, there's a rush feeling from the payoff of, being able to make that money and, timing it correctly, getting in and getting out. it can be a highly emotional, experience, especially start adding some zeros to that.

Yeah. So I lost exactly $2 and 28 cents today on my trades. I was up, I was down, I was up, I was down, I was up. I'm like, no, just I got frustrated because this whole week I was. Listening and watching and trying to time it. And what I'm learning is that if you get emotional to it, you just gotta like shut it down.

And whether you're up 50 bucks or 500 bucks or 5,000 bucks, again, I'm only starting with like a thousand bucks. It's not like Gonna kill me. It's just one more thing that I'm learning to do. 

Yeah. A thousand dollars, that's cheap tuition for an experience like that.

Poker and Card Games

I don't when I was younger, we used to play poker. I know my dad would teach me and I was like, oh, I'm okay with it. And then my, mid to late twenties, we'd go to friend's houses and spend. A couple hours and I donate my $40 so I can learn how to play poker.

Yeah. And that's the way I looked at it. It was like he was teaching me how to do it. And then one of the last times I ever played poker, I won a tournament. Oh 

Wasn't like, the World Series of Poker, but it was a table tournament, friend's house, and that was, 15 years ago. Oh man. Nah, I deal with my kids. My mom taught my kids how to play and she's a card shark. And my kids are card sharks now too. Nice. And here's the thing, it's not about gambling, it's about knowing that numbers and learning odds and learning how to calculate that in your head and are you willing to risk that?

Yeah. And I'd rather them lose it here or win it here in my house or my mom's house versus, you know. 

not only that, you can like talk through it, right? Unpack it like this is why this happened. 

Yeah. And they know how to play all these different games and my mom will not let anybody win. She's that competitive. you know, she's 83 years old and still will go for your jugular. It's good. you wanted to talk about something else?

Military Ranks Discussion

It was maybe in the text, Patrizio, did you pick up your next rocker? 

I am a E eight. So Master sergeant or? I'm really a First Sergeant right now, but the grade is the same. 

Nice. And that's Master Gunnery? No, you don't have Master Gunnery Sergeant Star Major. Oh, so it goes back in.Because you can go in the Marine Corps, 

right now it's, three up and three down? and three down. I don't even know. 

In the Marine Corps, you start off as gunny and then you decide if you're gonna go master 

Sergeant first Sergeants with the company, master sergeants, like a master of whatever, MOS. And then you go up the next level to Sergeant Major and Master Gunnery Sergeant. 

Got it.  So, first Sergeant or master sergeants, three up and two on the bottom right.

Oh yeah. Okay. I think we were talking about crypto I don't know anything about crypto. 

Crypto Regulations Under Different Administrations

I'm not trying to turn this to be crypto conversation, but what's been interesting or the big, one of the big takeaways over the last couple years has been the change between the two administrations, between the Biden administration and the Trump administration regarding how they want to, how they approach and regulate  crypto, the crypto industry, if you will.

And it's been a 180 where the Biden administration and their appointees were pretty much anti crypto. 

Yep. 

You know, they were holding it back in a lot of ways and, that's completely reversed, 

Because they couldn't get their head around how to agree to regulate it.

Yeah, pretty much. You had key players in certain, oh, I'm trying to think of the guy's name that was heading up the, SEC I can't think of his name right now. 

Not something anybody really knows unless you're field 

so I can bring it up. Anyways, they were just very anti Gary Gensler, how was his name? He, was very, against crypto, the crypto industry and just was not a fan. And so when you're the securities and stays commission and you're a Charles Schwab or a BlackRock, any of these huge finance institutions that really impact how markets work.

They weren't really all, feed in into the whole crypto industry, whether it's coins or the blockchain technology around it. Maybe blockchain technology. They were, investing there. or the crypto itself. It was just something they weren't really all feed in because they couldn't, why put money into something that, wouldn't be approved to be offered.

There's nothing tangible holding onto, any go a Bitcoin. 

Tell me more.  

So crypto is worth what I think it's worth and it's like the US 30, it's worth what the market says it's worth.

There's nothing tangible holding onto it. if I bought gold, I have something I can hold onto. I get an ingot, I get a coin, I get whatever. With Bitcoin, it's just a number. everything's electronic on it.

That's why people are afraid of it, including this monkey.

Yeah. I don't think you're far off there.  And you can't fold it and put it in your pocket. You can't touch it and give it to somebody else. Like you can a dollar bill. Right. So that's what's made it very difficult for people to understand and appreciate and it's not going anywhere. And so,  unlike the previous administration. the Trump administration they, put in here, lemme share this as a, as a kind of a frame the conversation in here. Let's see.

you want 

role to avoid Trump Showdown because as, soon as. Trump was gonna take over, He, was gonna step down 'cause he knew the new, the income administration had very different views on how crypto should be regulated and supported or not supported.

 

So the crypto industry, if you will they were super excited to get this guy out. Matter of fact, you could argue one of the reasons why Trump was able to win the election was through support of crypto enthusiasts. 'cause they wanted a change there. and he came to that very much on his campaign trail.

Anyways, so this guy's out, new guy in Procr and you've seen how markets have reacted, and this even shows up with the different offerings that these large institutions like BlackRock  Charles Schwab and all the rest. products that target that industry and target crypto coins and the top ones mostly, of course.

that whole industry has been blowing up as a result. 

Yeah. 

Market Adoption and Future of Bitcoin

You know, I always said, oh, if it ever gets down below 50, I'll buy, or 40 I'll buy it, or 30 I'll buy it. And then it, went down and now it's worth what, like a hundred grand.

I think it went up as high as 125, I think, and went down to like 80. So if we're talking about Bitcoin in particular, you know, was pretty volatile, right? It's a, yeah, it's all over the place. A little bit compared to a US Treasury bill, to complete different animals and they perform very differently.

This is 90, 33, 82 and at its height in September was 122. 

It's at 90 right now. There you go. 

How about that? 

Well, let's look at this. 

Oh, I see it. 

So let's look at the max. Obviously nothing. Up and down, Now here's what's changed in the last couple years. One we had to change administrations, right? new administration with a very different attitude towards this whole industry, You also have state pension programs along with large institutional players, and soon there's gonna be regulation. There's already this stuff pending, changes to allow 401k providers to offer some of these alternative assets in their, menu of options.

And so I just don't see the money slowing down going into this asset. only seems to be increasing. 

That could prop up the values artificially, just like that China stuff, 

Difference though. The difference here is in Bitcoin's case specifically, is that there is a fixed amount of coins.

There's no way to make more. the takeaway is there's no way to make more, there is a fixed amount of coins out there, right?

At some point that it will drive the value a certain way, in my opinion. So we'll see. Time will tell and it's gonna go from there. But my, main point is that the market adoption of Bitcoin is not going down. It's only increasing. 

and this is not a recommendation to buy or sell or anything like that.

 

but performance is no indicator of future. 

That's right. I'm not saying, okay, go rush out and buy a bunch. But I will say the market adoption and the amount of people starting to hold Bitcoin is not going down. 

Yeah. And more people want it, and more people look at it, the more value it is. 

Yeah, 

I get it. and it's a challenge, I think, and I don't discount the advice of only invest in things you Understand? There's that too. I think that's important as well.  And again, I'm not saying this is advice for somebody to go out and do it anyway, 

AI and Its Impact on Various Sectors

I guess sector or area of wealth creation that's happening between that and artificial intelligence, what's going on there? Like, it's just some fascinating areas that 30 years ago people've been like, what are you talking about? What are you investing in? 

And the naysayers on AI is oh, Terminator, it's going to, they're gonna take over the world. Everything's disruptive, right? And you know, you're dystopian when you think Terminator, but AI is going to happen. And there's a lot of things that a lot of people do today that will be taken over that are mundane, useless tasks that you can have them do and you could program it yourself.

And that's what's beautiful about it. 

Yeah. it'll be an interesting world over the next 10 to 20 years as all that stuff starts to ripple out and change and scale. It's gonna be super interesting. Yeah, I mean, I get these ads for AI trading bots.But it's two, 300 bucks a month and no, not gonna do that yet. Once that market comes down or commoditizes, then I'll do it. But right now I'm doing that us 30 trading, it takes me like 10, 15, 20 minutes a day to look at it and watch what's going on. and I'm sure I'll figure out my stride.

A couple buddies have done it one started doing this five years ago. So the other thing too is like when you do the scalping, you have to realize that you're betting that the market's going to go up.

Because traditionally in the last five years, we've had a great market going up and up and. You have to train yourself to be able to sell. And that's totally anti my brain. I just don't know how to do that. Right. Yeah. I couldn't explain to you how to short a stock.

I understand it kind of, but I couldn't explain it. So if I can't explain it, I'm not gonna put money behind it. And there's times in there I'm like, oh, I don't know what to Do. And then I should have sold instead of buy a position.

The jargon more confusing. Sorry. I was gonna say the, jargon around it can make it sound confusing too. This is a system that I'm using MetaTrader four, and there's MetaTrader five and there's a bunch of different things these are basically day trader things where you plug in where you want the stop-loss and the profit and all that stuff. And  you can bet it's, this is gambling I don't care how you look at it. It's gambling. Yeah. And I'm not against it, it's just, I gotta be very aware of that.

But like he's, I know somebody that's made like a million bucks doing this. Yeah. The guy that's in charge of this is upwards close to, managing a hundred million dollars worth of assets doing this daily. Yeah. And he started off with 45, 60 million, which again  it's not, I don't know why I keep doing this.

And, you know, it's, it's just something fun to look at. It's something for me to Learn. 

Exploring a Shooting Club Business Idea

I have, one of guys I served with, he's a gun nut.He has his own gun store. He has all the licenses known to man, to buy, sell, carry, fix, mill, all that stuff. He's got all sorts of whizzbang cool things that I'm not allowed to even talk about in his store. He can sell any kind of firearm in Cal. So he is straight lace, clean nose, above board, everything.And last June, I went down to Costa Rica with my buddy Henry, who I also served with, and we had a six hour layover in LAX. I called up my buddy, I'm like, Hey, we're gonna be here for six hours. You want to hang out and have a beer or dinner or something? We can just chill out and meet. 

So we all caught up. Now Henry is a retired deputy. This guy lives up in Sonoma. He retired a couple years ago and now he works for a gun club. It's an exclusive gun club. And he, does it for fun, not even for the money. He does it 'cause he enjoys guns. Yeah. he knows guns, right.

So he teaches billionaires how to shoot guns. And he sells 'em like six, $7,000 shotguns every time he goes up there, whatever. Right? So I never put two and two together. I knew Eric was talking about the shooting thing. I never really understood what he was trying to get to. And then we sat down at a restaurant and he started pitching this idea.

I'm like, oh, Henry does this. And so now they're talking, we're doing this and we're looking at buying property 600 acres and it's, we're trying to figure out how to fund it and get income in right away. And as a matter of fact, he came in today saying, we have this artifact that we found from World War ii, and it's worth X amount of money. Do you think we can trade it for the land? I'm like, oh, well, It's not unheard of, but let's see. And now it's like syndications, like that's a natural thing.

One of the things you and I were talking about a few minutes ago was me investing in syndications where these guys are bringing up 10, 20, 30, $40 million to buy property and do something with it, and then selling it off or doing what have you. Right? But this is kind of a different thing where it's more like a business idea of a syndication where we buy the land and.

We put agriculture on it, we put alternative power on it, and then we put a shooting club on it eventually, and if that doesn't work, then we can entitle it and put parcels on it and build houses on it. So it is what it is and it's like you, when you're on top of one of the hills, you can actually see Magic Mountain. That's how close it is. Okay, cool.  you're probably really familiar with that area, right? 

Yeah. I mean, just go up and down that area so often but I know exactly the area you're talking about.

Yeah. I don't think I realized that was considered or zoned agriculture, but it makes sense. That's why it hasn't been developed. As, urbanization pushes outward. And you get a rezoning agreement. that problem has already been solved. the other parts are financing this and trying to figure out how to go for the next five years. he sells guns. his services are fixing, repairing and making guns, that type of stuff. But he also does CCW, but we're also talking about doing like,  self-defense, that kind of stuff. the big win here would be we would put a country club clubhouse on the property and the members would have access to that, and it would be more like a golf country club except for shooting 

Yeah. this reminds me, used to have a gentleman I worked with out in the East Bay and they had something like this wasn't quite as robust in the offerings that you guys are thinking about. It was just north of San Francisco there somewhere. They would go duck hunting and do all that stuff there.

Very similar. It sounded really cool, like they had to buy into it, you know, it kind of kept it on a certain number. And so, it's kinda very exclusive and they could enjoy themselves on this property. 

It's my lady. Saw a dog going Yeah. So obviously there's membership levels, right? Yeah. Be an exclusive ada, silver, platinum, black car. Awesome, awesome idea. 

And that area's great for it. Yeah. I mean, there's a ton of money up there and there's Hollywood, and you can bring up Hollywood people and we would have, we would give access to the local jurisdictions.

 They would have access to their range. And we're even talking about bringing in members as low as a hundred dollars a month where you have access to whatever range you want, any day of the year outside of certain events or what have you. and we'd only need just to cover the basics, we would need 300 memberships.

So not really worried about the monthly revenue coming in because on top of that, CCW classes will bring in about eight to 10 grand a week. You know, so it's not like we're trying to find the down payment of 50%. And like a developer, if you were a developer and I bought a hundred acres of land and I wanted to put houses on it, there's a process.

You have to go through the planning department and you basically put out the little plot map saying this square is plot number one, number two, number three, and all that. and you have the hundred units you probably have, or a hundred acres, you could probably have like anywhere from six to 800 houses put on that, that acreage. So you'd have to define everything else and say, these are the phases that we would go through. These are the houses that we're already planning, and as soon as that's entitled, the infrastructure can be put in, et cetera.

I'm having him go through and kind of not really entitle it, but say, this is what the lay of the land is. This is where the ranges are gonna be. This is where parking's gonna be, this is where the apartments are gonna be, this is where the clubhouse is gonna be. That kind of stuff.

So nice. We have a game plan. for a hundred thousand dollars a year, this is what you're gonna get. This exclusivity and Your personalized golf cart, 

that kind,  personal spot for your golf cart that's out.

Yeah. You can just park it on the range. Shoot from your cart. Yep. You get a personal armor, which means he goes up to the range with you, you get catered food, so if you're into that kind of stuff, 

Yeah, that'd be awesome. I was gonna ask you, before we go, have, you talked to your cousin about any of that, John the banker? yeah. if he offered any strategies or solutions His answer was, we don't do land.

 

Land in agriculture is a whole different animal. Right? Yeah. I can call up, I probably have 60, 70 people on my list and say, I need a loan for this house right now. I can get one for land and agriculture. It's a totally different animal. We're looking at USDA small business loans, grants, all this other stuff, and it's just, everything's very limited.

But, so we're looking at alternative locations to get started. But   he's in love with this property and it's a good piece of property. We walked it. 

You got access to, great parts of LA and get there. No problem. So yeah, I think it'd be awesome. yeah, it's 10 minutes away from the freeway. Yeah, everything about it is freaking amazing. Cool man. I'm curious about what your thoughts are on real estate market. 

If you watch my video, my daily videos, I don't expect you to 'cause you know, 

I won't get 'em all. But yeah, check in on Last couple weeks I've been talking about this coming up and we don't expect anything. cause that rate is tied into short-term business, short-term credit, that kind of stuff. Not long-term mortgages. However, it does affect it. a drop in the rate we expect it to happen. But that drop happens a week before the testimony. And in fact, the day after, it went up like a 10th of a point. Proving your point, but here's the thing that you have to remember is our supply is low. Our buyer pool is even lower.

There are buyers out there, but buyers want to be picky and sellers want to be stubborn. And  that's where you say, this is where we are with this market. Are we gonna go down? Are we gonna go up? And that's all determined by employment, by the economy, by the stock market, by the,  everything. 'cause it's a big house of cards. Healthcare, credit, automotive, military, we're all tied into everything. And, whether you like him or not, Trump is shaking stuff up, right? He's taking away all this aggregate spending. He just said something about all the money that we're giving away to different countries that's getting act out.

 

You know, he is, he's doing all those deep dives into Minnesota and Detroit and all this stuff to find out where all that money's going. So all this money's getting tied up. Ultimately what that's going to do is hurt the economy because people are spending money somehow, some way. 

And we knew that this, when he came on board, he said that the economy's gonna hurt for a while until we figure this out and get this thing fixed. Not a fan of that, but it is what it is. But on the same, side of that argument is I've been hoping and praying for a downturn in the housing market because it will reinvigorate the buyer market. That's right. For the last 25, 30 years we've been a seller's market. And sellers are spoiled. I expect this much money from my house. if the market crashes, it's not gonna be easy. Yep. That's right. And same thing for equity markets. it does kind of rhyme in that, you know, there is a lot of, reasoning out there to say that some kind of correction is due or even overdue and some kind of pullback should be happening.

 

I'd love to say I'd want to see the market crash, but I know that would hurt as many people as when, you know, you lose out trying to buy a house or trying to make ends meet. So when there's a market crash, more people get unemployed and more people lose their savings and more people get hurt.

But I think we're very artificially inflated right now. 

Well, and a healthy market is supposed to have those kind of pullbacks, it's just very much like a forest that doesn't go through controlled burns or natural burns. 

If it's kept from those burns, when it finally goes up, it's even Bigger. markets are very much similar. They need to have these natural kind of cycles to 'em. And when you keep it from having those natural cycles, it makes. For explosive situations, right? 

Yep. It's, you know, we can blame California and look, I'm no fan of Newsom either.

Not a fan of Newsom. But I can tell you that California problems with the wildfires and the lack of yes, it's our fault. It's California's fault that we're not taking care of our forests. I understand that. But it's also Oregon's fault and it's also Washington's fault, and it's also Idaho's fault, and it's also British Columbia's fault and Edmonton's fault. Everything on the West Coast is dry and it's not managed the way it needs to be because we're not doing those burns that we're supposed to be And yes, it's our fault. Yes, it's Newsom's fault. But a bigger part of the problem is that we're not taking care of our forests and it's sad Because of that, our home insurance in certain areas, if you're in a fire zone, you can't get regular insurance. You have to go to fair plan. It costs you three times as much. 

Yeah. So that's just another tax that we have to pay as Californians or Americans or however you wanna look at it, because of poor management, poor bureaucracy, or poor use of our high taxes.

Yeah. it is a problem. I think that's why I thought that was a perfect example. Speaking because our experience in California and how that markets when you don't let things naturally burn or at least do some controlled burnings a lot of those things can happen if you don't manage it correctly.

It makes for even bigger disasters, which is what happened. 

And same thing with our economy, right? If we don't do natural burns, normal burns cycle. Expected burns. I wanna say since 2016, I've been expecting the market to crash in the housing market, and all we've seen are plateaus.

 We've seen this, and then we go up and when we're at 2025, and that is 2026, that means we're two and a half cycles away from a big recession in the housing market. 

Hmm. And that means that we're artificially inflated. However, when's it gonna stop? What's, gonna be the card that breaks down the house of cards.

it's not just the housing market, it's not just finance, it's everything else. 

Yeah. It'll make for an interesting, next couple years. And there'll be opportunities either way. So it's just a. I think the takeaways is to pay attention and be in positioned to take advantage. 

Keep your money in cash. Is that what you're saying? Take all my money out of your ETFs. No,

studies have proven over and over again that trying to time the market in that way is super hard. Very few, just the numbers, the people who win that game versus the people who lose it. The house is definitely stacked against You. and just by selling the winners and buying the losers, which is concentrated what most people do, you sell the stuff that went up and you buy the stuff that goes down.

It's very simple. we can complicate it by trying to get too crafty, I think. sell. However, if we just consistently buy what goes up and. I'm sorry. Sell goes down. we will win. It's just exaggerated when there's big market corrections, there's bigger discounts out there to go grab, maybe not be as much to sell anymore.

Right. There'll be some losers out there who will go out of business For sure. 

And was that stock I told you to buy $500 worth? 

Yeah, it's really hard. I mean, sometimes stuff works out. at one point though, it's shot up. It would been a good time to sell it, but it's just hard to know When 

Yeah. That's the thing, man. I am like a cat chasing that laser every day. 

Real estate? Real estate. Oh, okay. And then I'm off doing something else. I don't have that time or bandwidth to be able to do that.  And most people don't. And you can't time a market if you're doing that. and the simple wealth, inevitable wealth is one way to go about it.

And you can always have some money in another bucket going after bigger things, just like what you're doing. So things are spread out. You got different strategies doing different things, 

It's scary too, because the market could turn tomorrow. Yeah. And that money gets frozen up and I'll get most or all of it back, but it gets tied up and then I have to go through the foreclosure prop and all that stuff. So it's, it could be a pain in the butt.

So this is my first one. Yeah. And we'll see what happens. 

Yeah. Almost end of the year. 

Tax Strategies and Financial Planning

So we will, what we'll be doing is a lot of, tax loss harvesting in these investible accounts, aren't retirement accounts, accounts that if you make money in this year, you gotta pay taxes on it This year.

basically brokerage accounts, investments accounts, right? These, taxable accounts they're really like this. I, would call 'em the real Swiss army knife of financial products only because you could do so much. You have so much more flexibility in a taxable investment account, which is one of the accounts you have. Because there's, even when you lose money, so to speak or lose value in these accounts, there's an opportunity to help manage taxes. So we'll be selling stuff that went down in value and harvest the tax loss to help deduct off tax burdens. Use that money to buy some other stuff.

That'll, yeah, I'll take it all day long.  we're doing some of that stuff. 

We'll see. You said next time want to talk to a strategic financial guy, like an accountant of some sort? 

Oh yeah. I think we should bring on A-A-A-C-P-A that's really good at future planning around taxes as opposed to just past planning around taxes, because that's what most, I wouldn't say most none.

That's fair. A lot of, I'd say tax professionals come into two different camps. One, they focus on what has happened. They don't do a whole lot of future planning. They just look at the history, organize it the way they think it needs to be organized and then do the reporting without much.

Foresight or for planning about, okay, what do we do going forward to get in front of it, if that makes sense. So a, a good tax professional is somebody who's doing that with you. They're not just taking in what has happened and looking at the history and reorganizing it to tell the story to Uncle Sam.

they're also doing future planning. Okay, this is what, this is the step we gotta do today so that tomorrow your burden will be this instead of that. So they're gonna try to help bridge the gap between what you're doing and what you need to do.When you're ready to have him come on, let me know.  

Well, to be clear, they're not magicians, right. however, they're gonna do a lot more around making sure that there's a plan and a strategy to help minimize as much as they can get him to invest in this land deal Hey man, next guy's in. And if anybody else is watching or listening to this, if you're interested in that, please gimme a call and be happy to walk you through prospectus.

Hell yeah. Good. Yeah, crazy. 

Conclusion and Final Thoughts

Well, we're at an hour and 13th, so what don't we call it? 

Yeah, let's do it. 

All right. 

Yeah man. I'm gonna reach out, before the end of the year just to go over your stuff.

Alright. 

Thanks for listening ,everybody. 

See ya.