Floyd Mayweather Just Proved a Brutal Truth About Wealth

Hey, it's Kamilah Stevenson. Around here we do talk wealth, and, um, we are going to get into some things today. I want you to come on in and let me know where you're chiming in from. I'd love to know. I would love to know. I would love to know. All right, hope you guys are having a beautiful day, by the way. All right, it's a beautiful day if you say it is. All right, come on in. All right, we got a lot to get into. Um, I've seen it all, y'all. I've heard it all. I have heard it all. I want to talk about today something that is absolutely, uh, blowing my mind to find out. Absolutely blowing my mind. I cannot believe my eyes. And, um, There is a clip, uh, that is going around, uh, that is talking about allegedly— I don't know if a lot of you all know who Floyd Mayweather is, but there is a clip that is talking about how allegedly he is coming out of retirement. Hit the like button on your way in. I want to talk about something very important because I'm telling you, this is absolutely insane. Um, I can't believe my eyes. And if for those who don't know who Floyd Mayweather is, he is a professional boxer, okay, who has gone as a professional boxer 50-0, okay? He has never lost a fight, he has never had a draw. And, um, he's coming out of that record out of retirement as someone who has made allegedly over a billion dollars and he's almost 50 years old. And I want you to put in the chat what— why do you think that is? Why? And I can't even see my chats right now. Okay, I see it, I see it now. It was a little delayed reaction, but he is coming out of retirement for a fight. Why do you think? Put a 1 in the chat if you think he is coming out of retirement for money, or put a 2 in the chat if you think it's just the itch of boxing as a 50-0, as a professional. I would— I just, I just got an itch. I just want to box again and get hit in my face at 50 years old after making a billion dollars. Put a 1 in the chat if you think it's for money. Put a 2 in the chat if you think that he has an itch. I just, I'm just curious to see. Okay, you guys think it's for money. Okay, I thought I was going crazy. Okay, but I want to pull some principles out of this because I think it's something that, uh, we should talk about, and I think it's something that is extremely beneficial to all of us. Okay, see, okay, so you guys kind of think the same. Matter of fact, let me, let me let you hear a quick clip real quick. All right, um, and this was just a show I was watching. Again, I have to— I'm gonna go ahead and say allegedly. And let me just say right now, like the video, subscribe if you haven't already, send it to someone who needs to hear it. And, uh, nothing I say is financial advice. Everything I say is for educational and entertainment purposes only. Do your own research. I'm not trying to make you make money moves based off of this. All right. Now, uh, let me play a quick, uh, clip so that you guys can, uh, see this really quick. All right, um, and, and this is just a clip from a show. Um, I'm gonna play a few of them. I just want to get your thoughts on this.

Are you serious? Mayweather-Pacquiao? We could call it AARP is what we could call that. Who wants to watch that? Look, guys, I took the liberty of doing a cursory Google search while you guys were talking. Estimates are $1.1 to $1.52 bil— that's billion with a B— that Floyd Mayweather has made throughout his career from, from like purses that he's taken in from fights. $1 billion, and he's 47 years old, and he's completely broke.

This is—

he's won the prize. This is, of all the idiots that we've seen out there, celebrities, actors, entertainers that have lost a lot of money, this guy would take the cake. To blow a bill before he even hits 50 is unimaginable. It actually is sad. It's a cautionary tale. We have seen it time and time again.

But who—

all right, all right, all right, all right. Oh my goodness. Yes. So let's talk about it because I think this is a learning lesson for everybody. And again, This is allegedly, but if the way I'm thinking about this, why would someone who has made over a billion dollars, who has a 50-0 record in a professional sport, come back to one of the most brutal sports there is ever and get hit in the face and is at 50 years old? It doesn't make any sense, but here we are again. In the same situation that, uh, most millionaires are in, okay? Or not— I don't want to say most millionaires, but a lot of athletes, a lot of people, um, who met— and you know what, and listen, I am not— I'm not judging him because, hey, I, I haven't made a billion dollars, okay? So I'm sure there's something that he can teach us all because he's made a billion dollars. And if you ain't made a billion dollars, then you could learn from someone who's made a billion dollars. But this is just to say that, you know, um, I keep letting you guys know that it's never about the money. This is what I mean when I say it's not about the money. It's about you. It's about your identity. It's about your mindset. Now, he built a brand around having a lot of money. So, hey, I'm the money man. So now, because I built this brand, I have to show people I'm the money man walking around with, you know, millions of dollars, and of course gambling and, and things like that, okay? And so, you know, again, I'm not here to, uh, speculate about his personal finances. I don't know his books. None of us do, okay? But let's be 100% honest about this. When someone, again, who is almost 50 years old, and considering, um, you know, how, how you Yeah, considering how old he is— and to me it's really like considering how young he is with the rest of his life that he has— that he wants to take time to step back in a ring where the job description is get punched in the face, that's going to raise suspicion for all of us, right? That is not a casual decision. And I feel like we've seen this story time and time and time again, all right? Massive income, massive lifestyle, massive visibility, This is why I keep telling you guys that it is not, again, about how much money you make. All right, and some of my chats are behind, so I'm not able to see them all right now, but it's never about how much money you make. It's about how you manage it, how you structure it, what you do with it. You know what I mean? Like, thank you so much, Pierre. Um, but my question is, how does someone who made generational, uh, money end up in a position where they have to go back? Right? That's, that's exactly what we're trying to, to figure out, okay? And this, this gives you a moment to think about you, your life, your decisions. And listen, I know people say what they would and would not do. I, I'm, I'm happy I, I wasn't a young athlete that went off and made, you know, $100 million and, and didn't know what to do with it, you know what I mean? Like, I'm happy that I did get educated about money. A lot of these athletes are not educated about money. So again, I'm not here to judge,. But I do want you to consider stuff like this because this is happening over and over and over again. And I don't think people realize how bad it is. Like, and I keep explaining how wealth is not lost because, oh, you didn't earn enough. I need— you know what, a lot of people really believe they need to make more money. They think they— I need to make more money. I'm telling you, that is not the issue. A lot of people are losing it because they never built far enough in the future. That is a concept called time perspective. The more successful the person, the further into the future they, they need to think about the, the consequence of their current actions. But most people are not thinking 10 years out. Most people are thinking 10 minutes out, right? What feels good right now? Uh, what keeps the image intact? What maintains the lifestyle? What keeps the applause going? That is where people are thinking. I heard a, um, I heard a basketball player also who, uh, said something about, uh, I think he had made like over $10 million. And, um, let me turn this up. He made about— he made over $10 million, and he said he never thought it would stop. He said he never thought it would stop. So he spent, he spent, he spent, and he wind up going back into like the ghetto to live. Is— it was a story on Instagram. They had, uh, promoted it also on YouTube, but I watched his story and he said he's perfectly fine being back in the ghetto because that's where he grew up. He's not feeling any kind of way about it. But it just goes to let you know, like, $10 million can slip through your hand. You can waste it. So y'all, this is not about the money. I'm telling you that there are people right now— that man who had $10 million, there's people who have a lot less than he do who are a lot well off, right? A lot better off right now. And so if you can stay focused and if you can do the— make the right decisions, get the right discipline, uh, invest in yourself, I'm telling you, this stuff can go a long way. I want to play another clip because I want you guys to, um, hear something that I think is really, really important. Um, and I'm gonna pull it up for you. Give me one second. I want you guys to hear something. It's like 3 different clips I want you guys to hear. Um, this is— I, I just— I really can't believe it. Listen to this.

It just blows my mind that these athletes— no one ever catches on. No one saw the, the broke 30 for 30. No one ever— like, to me, as someone, uh, who's a lifelong gambler, and, and it's like, I'm not shocked at all. The more— when, when Floyd was posting his winning tickets and, and all this other stuff, I was like, man, this is— you had it for trouble, brother. Uh, it, it's, it's— I'm not sure. Gamblers go broke.

There it is. That's all I need to say. Gamblers go broke. He said it right. Gamblers go broke. It doesn't matter how you're swinging it. Doesn't matter if you, you know, you're in a casino or whatever. Gamblers go broke. People are gambling in their investments. They go broke. It does not matter. I don't think I've ever heard a story about somebody making a billion dollars and, and having to now go back and return. And again, allegedly, allegedly, because we don't technically know why he's coming back to boxing. But y'all, who's coming back to boxing at 50 years old? You know what I mean, to get punched in the face, like I said, after— who, who's compromising their record? Why would you want to compromise your record? But, and then there was, um, there, you know, I mean, there's talks about all kind of things, you know. One of the things that I keep telling you all also is that if you, if you want to plan to be wealthy, you gotta plan around taxes. You have to understand taxes. Taxes is one of the biggest payments that you're going to make if you, if you gain wealth. Right? And so one of the things that you need to do is make sure you are, um, barricading yourself around that, around the reality that at some point IRS is coming for you. That's why you should— that's why you should put some of your money aside in a— in a Roth IRA, in, in some kind of retirement plan. Okay, um, give me one more. I'm gonna— I'm gonna say something But I want you to hear, uh, just one more clip because it was very interesting that he even said this. This is, this is what I've been telling you guys so much. Um, this is the last clip that I want you to listen to.

It's that crazy for us on the outside looking in. Looking back, it looks crazy, but in the moment, you're making $200 million for one fight.

Doesn't seem like it's ever going to end. It doesn't seem like you're ever going to run out of it.

Steve, I'll give you the final word on this. This is your area of expertise, boxing.

Yeah, who was stunned that he wasn't just putting a couple hundred dollars a month into his Roth IRA? I wasn't. A couple things. So last year there was a story that the Mayweather gyms— I guess he franchised them out— the one in LA had people picketing his employees because he wasn't paying them. Then one of his few investments, I think it was a gentleman's club called Girl Collection, they had some issues. The girls weren't getting paid fairly. Come on, those girls are trying to put themselves through college and you can't pay them? That, that's disgusting.

All right, all right, I just want to— again, simple, simple principle that he's bringing up. He's like Who would have thought that he wouldn't have put a little bit of money in an IRA? Like, these are the mistakes that even the people with the wealthiest of money make. And I have said this before, I walked into—

in—

when I was in Las Vegas, I listened to Mike Tyson on a stage in a live documentary. He said let me explain to you how I lost $400 million. I wanna— I want you guys to know how I lost $400 million. So I'm telling you, this stuff happens over and over and over again. And as a matter of fact, the last fight that he fought was back in— the last fight that Mayweather fought was back in 2017, which was 9 years ago. And even when he fought then, he was old, like, because he about to be 40. He just turned 49, I think. So he was 40 years old. You know, you get over 40 years old, it's time to stop boxing. You, you made enough money to really just be good for the rest of your life. But I went to go see him and he made a lot of money off— even that last fight he fought McGregor, he fought a guy named, uh, um, what's his name, Conor McGregor, and who was an MMA fighter. And they made a lot of money off that fight. I don't even know how much money Uh, somebody look up how much did, uh, uh, how much did he make off of that last, um, fight. And I can't see a lot of the, uh, the chats right now because for some reason it's, it's stuck. But, um, I don't know how much he made off of this, so I can't respond to, to the chats right now currently. I only see some of them coming through. But, um, but he made a lot of money because those seats, number one, was expensive. I spent $10,000 for a seat back then, okay? I'm not doing that right now, but back then I spent a lot of money going to see him He was at the T-Mobile Arena in Las Vegas when I saw him, and he was making a lot of money there. But here's the thing, you mean to tell me you didn't put— and I know there's caps and there's limits on, um, putting money away into, um, a retirement plan or whatever. I know there's caps, but even if you make a certain amount now, you can get away with like the business expenses and stuff like that, or you can get away with still doing a Roth IRA if you are able to, cut, you know, like have deductions, your HSA, um, business expenses, and get your income under a certain, uh, level. However, if you do make a lot of money, you can use a, what you call a backdoor Roth. Okay, if you make over the limitations, you can use a backdoor Roth, and, and a lot of people do it, and that's where they put their money into a traditional IRA and then they convert it to a Roth IRA, and then they just pay taxes on the convert— on the conversion of that if it's required. Okay, and but you do have to go by your MAGI, which is your modified adjusted gross income. And so if that is over a certain amount, then you do have caps to being able to use a Roth IRA. But you can, you know, go the back route. Okay, but I'm just saying that to say he could have— whether it's a traditional IRA, he could have been loading and load— I mean, when you making that much money. But you know what, this man walks around with. Like, y'all, anybody who know him see how much he splurges. And I'm not saying a person— I can't tell a person what they should and should not do with their money, okay? Like, they're making enough of it, and it's fine if you're gonna splurge. All I'm trying to explain to you all is you have to be intentional about your structure, right? Most people are not thinking 10 years out. They are thinking 10 minutes out. They are gambling. They're gambling with their future. They're trying to figure out again what feels good right now, what keeps the image going, right? Like I said, where do I get the validation? And it works until it doesn't work anymore. And I want you to know that high income does not equal high wealth. High visibility does not equal, equal, um, uh, equal or does not equal structure. All right, it doesn't mean that somebody have structured their finances for financial, uh, security, right? And then you got liquidity that's coming in, and if you have no structure around the liquidity, guess what? It's going to evaporate. That's exactly what happens. And that is the danger for athletes, for entertainers, for entrepreneurs, and honestly anyone who experiences rapid income. That is the downfall, is that they mistake momentum for permanence. They think this money is going to continue to come in, and when money is coming in fast, you never feel the end of it. I think that is the illusion that a lot of them have, is that they assume there's going to always be another contract, always going to be another deal, always going to be another endorsement, always going to be another cycle, another bull run, another pump. You know, and we got to get out of there because these are all short-term, uh, perspectives. And I keep saying this, most people are gambling. I don't care how they figure out that they're— I don't care how they spin it, you know, I'm invest— most people are gambling, right? And, and I'm telling you, when that money comes in, you just don't feel the end of it. It's all very emotional. You have to sober yourself, okay? That assumption is going to destroy generational wealth. Because wealth isn't, again, built by what you make. It's built by how far ahead you can plan. This is why we see these patterns with lottery winners and influencers and tech founders and, you know, people with huge— this is what you notice when people are losing money like that. Huge income, short time horizon, lifestyle inflation, identity attached to spending. You see, if I promote myself as money maker, then now I gotta be sitting in front of jets and I gotta be, you know, he got all of the, you know, these, these Rolex, these watches that cost 50, you know, million dollars. You know, I gotta have the fanciest car, custom-made wings, the car about ready to fly because you done did all of this stuff to it and you trying to show off. Like, when you attach your— and again, this is not to go I have bought expensive things, okay? But somewhere, ladies and gentlemen, somewhere down the line, you have to start planning. This is exactly why I keep saying— this is why I promote stuff like, um, get your Roth IRA. This is why I say that. Me personally, that's what I do. And I, and I do use, you know, I— yeah, there are caps. Like I said, you can use the backdoor Roth and you can use the traditional, um, that's why I had to put my— a lot of my silver and gold is in my traditional, uh, IRA. I have some outside of it, but I have a lot inside of it as well. And so, you know, you gotta, you gotta have a good accountant first of all. But, um, this is why I continue to promote, you know, getting your money in a Roth IRA, something that's tax-free. You know, I do promote iTrustCapital. I always say I recommend it because it allows you to, uh, position your digital assets. And digital assets are the future, okay? I'm just— I'm trying to tell you to put it in something that I know 10, 20 years out you're going to be positioned very well, right? A lot of this is long term, and it doesn't mean that it takes 10 or 20 years for this stuff to appreciate. That's not what I'm saying. I'm saying that you can position yourself where you don't even have to sell your assets. You can gain yield off of them, you can borrow against them, and then invest that money into a cash flow business or real estate or something, or diversify, you know what I mean, to hedge risk. There's a lot of options that you can— as a matter of fact, right now even with iTrust Capital, right? If you have Ethereum, I was just looking over my portfolio yesterday just to see how much Ethereum I, I have, um, because I have my, some of my Ethereum stake. But even off of some of the digital assets that you choose, you can stake them now and you can be earning yield from that right now. That's how Tom Lee, like I said, that's why he's not under, because he's making millions a day from staking. So just remember that you can stake, you can hold some of your money, cash and USDC Okay, they do provide institutional-grade custody and they allow exposure to physical gold and silver within that framework, which is very incredible for diversity. And if you open up the account, you get $100 free funding bonus to help you. But remember, because a lot of people— matter of fact, do this one thing, um, this, this in the next week. Make sure that if you do have a, a plan, a pension, a, a 401k account, something with your, um, with your job, make sure that that money is actually invested in assets. Do you know how many people I've talked to and I told them to go back and do an audit and, and, and, you know, go back and see what are they actually invested in for their retirement plans? Do you know some of them have money just sitting there and it wasn't invested in assets? So they was— they were losing on the, um, the upside of those assets. I think one lady said she had money just sitting there for 5 years, never even got it invested. So make sure you do an audit. Go, go look at the, the hygiene of your retirement plan. Now, uh, also, if you reach out, you, you can do a rollover as well. I think it is limited if you still work for the job, but if you have an old 401, my thing is you owe it to yourself to get exposed to digital assets. Why? Because they are the future. We are— listen, everything that we do has to involve structure, okay? And so I am— the thing is, I know that for a lot of you, even who are positioned in assets, first of all, I'm trying to get you to get positioned. Second of all, I'm trying to get you not to lose your position, because when things start to reprice and when things start to Run. I know a lot of people are going to make a lot of mistakes because of emotions, because of nervous system regulation. I already know that. And when pressure hits, uh, people go backwards because they make decisions based off of that pressure. And you know, I, I want you to be on top of your— I want you to be secure in your structures. That's why I'm trying to get you to do this stuff before it's too late. We are entering into a decade where the people who, first of all, are thinking short-term— because if you're not positioned or structured, you are thinking short-term, you're not thinking about tomorrow— the people who think short-term are going to be financially exhausted. And the people who think structurally are going to separate. I talked about even the middle class separating. There's come— there's coming a dividing line between all of it, right? The system is shifting. And let me just help you to understand economically where we are. Go ahead and like the video if you haven't already, right? So, because I need you to understand why time perspective matters, like, even more than it did 10 years ago, 20 years ago. First of all, we're not in a normal cycle. I need you guys to know that we are in a structural transition. I keep talking about the debt levels, they are historically high. The governments are overleveraged, okay? Monetary systems are stretched, and when the systems are stretched, they do not contract first. They expand, they print, they inject liquidity. This is where we are. And then because of that, assets are repriced. Basically what they do is they create the illusion of stability through inflation, and that's why they continue. That's not like political, right? I think I'll uh, released tomorrow. I know this week I'll explain to you why the government— it doesn't matter who's in government, they're always going to choose, uh, inflation. It's mechanical, right? Every time they expand that base layer of money, assets are going to respond to that liquidity. And this is why, uh, you saw one of the most, uh, the, the craziest bull cycles during, uh, the global shutdowns, right? Because liquidity exploded. And when money starts to expand, asset prices are going to follow that expansion. But the part that a lot of people miss is that expansion doesn't benefit everybody equally. It only benefits those who own infrastructure, okay? It benefits those who are positioned in the plumbing of the system, okay? And that's important for you to remember. Now add this other layer, and this is again helping you to understand economics right now where we are. Add in the financial infrastructure, just all of it is tied together, right? Politics, all of it is tied together, right? Add this layer. I was looking, I was walking, uh, I was talking on the phone with somebody today and I'm, you know, they got those little carts that's like delivering stuff to people and it's like the next, the next wave, the next season is replacing humans. Obviously the, the world is being built for robots, y'all. The world is being built for robots. You got to understand that the world is not being built for, for manual labor. It's not, okay? It's being built for automation and robotics, all right? So when you add the layer of the fact that artificial intelligence is accelerating automation, then what's happening is labor is going to, uh, is being compressed and, uh, productivity is being augmented, you know what I mean? Like, it's being augmented. That doesn't eliminate value, but it shifts where value is flowing in this, in this next wave of where we are. And when labor becomes less scarce, then guess what, guess what becomes more important? And this is what I was— this is the conversation I was having today on the phone with somebody. When labor becomes less scarce, capital becomes more important. That's why I really believe even for young people. I believe that your money is going to outperform labor. It is. Your money is going to outperform labor. So you got to find a way to get your money to make money. You have to find a way to allow your money to be leveraged. You need leverage in this next season, right? And again, I'm sorry I can't read all the comments because I'm not— it's, it's not showing up for me. So I'm just, I'm just helping you to understand where we are. And so your capital is gonna be more important, right? And when capital becomes more important, then infrastructure becomes the leverage point. Remember, you need something you can leverage. This is why you're seeing everything talking about tokenization and settlement layers and programmable money and cross-border, all of that. AI transition, uh, uh, uh, transacting automatically. You're gonna see all of that. Why? Because the system needs it. The system actually needs this for how the world is being built. That's what I want you to know. It's not being built for the old programming, okay? It's not being built for how it was yesterday. It's being built for the future. It's being built for, uh, where we are headed in our— it— there's a global reset, and a lot of people don't understand there has to be a storm before, uh, before— there has to be breakdown before breakthrough. There has to be a reckoning before a reset, okay? So we are going to— we do— we are seeing things kind of blow up because that is the process. That's, that's what happens, right? There's the problem and then there's the solution. I just kind of think the same people who created the problem are the same people who's coming with the solution, but you know, that's just me being how I think. But you can either decide, hey, I'm gonna trade cycles. Even looking at the, um, where we are with, uh, cryptocurrency and digital assets today, everybody. Oh, we got a pump going, we got it. Listen, this ain't nothing but a makeup from, from the drop that we had, okay? Like, we are still at $1.43, you know. Oh, it's almost, you know, Bitcoin almost up to— you're going up to— that's fine, but Bitcoin was at $120K. And so it's okay, this is important, but the, the hype is for the traders, and nothing wrong with that, they're making good money. But I don't want you to get confused in that when it's like, oh, we're headed towards $80K for Bitcoin. We just came off of, you know, $60,000 and headed— that's a great move when you're invested as a trader. Okay, I'm looking at my option plays, right? I got some option plays that I'm in right now. And so a trader mindset is different from a long-term mindset. I don't want you to get confused when the prices start bouncing and, you know, you going to different levels and everybody's like, oh, here it is. You know what I mean? Like, and now you like, oh wait, you know, like don't get in the, in the fast pace of the trader life, okay, when you're thinking long term. We got to separate the two and you got to do it very clearly and very distinctively, okay. So I— because you're going to hear a lot when, when, when it goes down and when it comes up, you'll hear a lot going on in the headlines and you'll hear a lot of price targets and stuff. You have to You all don't understand. I was talking to my, uh, daughter, one of my daughters, the other day, and she was asking me about like my investments in digital assets like 5 years ago. And she was just asking like, hey, did you, um, you know, did you know that like these assets were going higher? And I'm like, no, honest to God. I was buying digital assets on an exchange, moving them into a cold wallet, and I promise you guys, I never even paid it. I never even looked back at my cold wallet for like 3 years.

I didn't.

Why? Because in my mind it was long-term. Like, I didn't have a reason to like look at the price back and forth like, well, where is that today? Okay, it went this way, it went that— you know what I mean? I didn't have— like, it was in my mind This was the future, literally. Almost so much so, I told you guys, until like I couldn't even find where some of my HBAR was. I had locked it up so far away, I couldn't even remember where I put some of my— a nice amount of my HBAR. I was like, wait, which— did I have it on a hot wallet, a cold wallet? Which one? You know, I couldn't remember because I got so many cold wallets. I never paid attention to this stuff. First of all, I'm a health coach, so I was really focused on, you know, helping people to get their health together. Um, so I wasn't— even though I personally was investing in businesses and real estate and you know what I mean, I was— I'm an entrepreneur. So I was right before COVID I was actually in the middle of creating a— I had already done it actually, um, I trademarked it and everything. I was in the middle of creating a, a energy drink, okay? And so, um, we had the— we had come to the final parts. I teamed up with a, a science lab and, uh, we had the ingredients and everything. Everything was finalized. The last step I had to take was to go to a manufacturing company or go visit some plants, go visit some manufacturing companies. But then guess what happened? COVID happened right after that, right? And so everything got shut down. So right when I was in that last phase to see, uh, which manufacturing company I was going to work with long term to get my product out, um, that happened. And then I was also working on a skincare line. I have a skincare line with all natural ingredients and green tea extract and collagen and just you know, all kind of healthy products. And so, but you know, things happen obviously, you know. So I was focused on my business and building, but in the background of my life, I'm investing. I'm, you know, I was talking to, uh, someone today. I was telling them, uh, because I was, you know, she was explaining how she's got hundreds of thousands of dollars worth of debt right now, um, from school. Now y'all know I just did a video on that, and I talked to my kids about this all the time. Do you really want to go and get traditional education and get a, a studies degree and come out and have all of this debt, you know, and you can't get a job. We gotta rethink that. We gotta start having a conversation. I'm not anti-school, I'm just anti-not making money after you get a degree and you're in debt. That doesn't make any sense to me at all. And so, um, Tiffany said, I hope you pick up those products. Yeah, yeah, I, I have them. I have them, um, all set and ready to go, okay, to move forward. So, but we have to start, you know, rethinking these anyway. And she was saying, you know, she was asking me, did you ever have debt? I said, yeah, I had, I had a lot of debt. And she was like, did you pay it off? I said, yeah, I paid my debt off like early, very early in my 20s. And she's like, how did you do that? I said, I don't know, I was focused. I was always investing and I was always like, you know, I don't want this type of debt holding over my head. So I don't, I don't know, I just focused and I wasn't I was eating beans and rice like Dave Ramsey used to say. Now I think he's called to the middle class because there's some things I really disagree with him on, but I think once you put— set your mind, you pull back a little bit and you start investing into assets, I think you're going to have a, a greater outcome in the future. And so we got to start rethinking the, the future because is the future being designed for someone who's going to school to get a a studies, um, degree, uh, African-American studies or whatever studies you want to— women's— no, no, no, no, no, you, you're gonna wind up with debt and you're not gonna have a job. I'm just gonna keep, keep it real, you guys. So you have to look at— I'm not saying that those studies aren't interesting, they are, and they're, they're great for society, you know what I mean? Like, I'm not saying they're not needed, um, but you're not going to make any money off of it. So we got to start looking at What— how are we— what is the world being created for? Oh, we're going into a new currency, we're going into digital currency, we're going into digital infrastructure. Well, why don't I get in on infrastructure, right? Why don't— why don't—

it's—

I'm gonna be using it, I'm gonna be sending money. And I mean, we already tapping in digital wallets and everything, so we're using it, right? So wouldn't you want to be on the on the ground. Like, we're still on the ground level of this. And as a matter of fact, after this bull run, I'm gonna tell you what's happening underneath the rug. What's gonna happen is, because people are short-term minded and everybody wants a dollar today instead of waiting for $10 million tomorrow, everybody wants it today, right? So what's gonna happen is people are gonna sell out of their positions because they're gonna see gains and they're gonna like— and I'm not saying you shouldn't do that along the way. You should just have a plan where you're scaling and you have long-term, but but there's gonna be some people that just completely gets out, and there's going to be a rotation. That's going to be the last wave of where the wealthy and the whales and all of them come in and take the rest of what's there, because they know what your selling points are, and they're going to take all of your stuff. And, you know, and they're still storing theirs up for the future. It's the last little way. First of all, they're gonna make you capitulate early, okay? So they're making— they're gonna scare you. Drop the market, manipulate, do all of what they always do to, um, get retail scared and stuff. A lot of people have already— hey, from Panama, what's going on? A lot of people have already capitulated and sold all of their stuff because they're so afraid, and the FOMO and the fear and greed index is all the way down, right? But that last one, when people— when it pumps and people are trying to, you know, exit out because they want— you're going to have other people who understand Yeah, this is— this may be at this price now, but man, when we get all the way 5 years— they're thinking 5, 10 years down the line. They're not thinking like you today. And so there's going to be a wave after that where there's just an accumulation from the whales and, and institutions and banks. They're going to hoard all of it because you got afraid and you sold everything. And that's just how it's going to go. So I'm telling you And I'm telling you very clearly, get a plan in place. I come on here each time to educate you on what is happening. Some people won't listen, you know, because knowledge— knowledge is not going to change anything. Information is not going to change you, all right? Your programming is going to change you. Everything gets filtered through your programming. I already know that. It's, it's never the knowledge. We got as much information as we need. You get— you, you see, people know they need to eat healthier. People know they need to get up off their butts and exercise. You know you're not supposed to be sitting in your chair all day. You know you're supposed to get so many steps a day, right? Right? You, you know that. Like, you know you should be eating clean and you shouldn't be eating a bunch of fast food. This stuff is killing you and clogging your arteries and causing high blood pressure. And you know you got a few pounds that you may need. We know that. We know. And, and most of us got the information, but it's something missing. And I keep telling you what's missing— it is mindset. It is identity, it is programming, it is those inner workings that is missing from us. So work on you, because you see right now that somebody can wind up having millions and millions and billions of dollars and still lose everything, right? And obviously they're not losing it because they don't have enough. They got more than enough. They got enough for you, you, and you, okay? And me. Okay, give me some of that, right? They got enough, but it, it doesn't matter. Self-sabotage is lurking, and I'm trying to help you to differentiate because some people are going to interact with the next financial system, um, but very few will hold pieces of the infrastructure that powers it. Okay, and, and that's the separation point is where we are. Thank you so much, Percy. I appreciate you so much. Um, I appreciate this so much. I do, I do. Um, and hey Kamilah, great information. Yeah, I'm just trying to— the more aware you are, because self-awareness is a hallmark of emotional intelligence. And you know what, uh, they've studied it. They've studied and tried to figure out who are the people that become the most successful, and it's those who have a higher EQ, not a higher IQ. IQ— your IQ probably ain't gonna change much, okay? And it don't need to for you to be successful. That's the good news. Right? That's the good news. But EQ, emotional intelligence, can be increased. We see it time and time again, right? And, and that is the hallmark of success. And one of— and one of the things that identify emotional intelligence is self-awareness. Some people are not aware. They're not aware, okay? This is not aware, just slowly drifting off into their automations, their subconsciousness, you know what I mean? Like the things that— the thing— your thoughts that you have today all 80,000 or however many thoughts you have a day today, same thoughts from yesterday. You got to interrupt yourself, your, your thinking, your patterns. Interrupting the pattern of being you in order to break out of this, okay? And I— that's harder than what people realize, is breaking the, in the pattern of being yourself. Interrupting the pattern of being you, that is hard. Why? Because you're inside of yourself and you can't read the label from inside the jar. It's hard. And so you gotta have somebody come and crack that thing open and tell you, listen, open up your eyes, see where this world is going, all right? Don't be blind. Don't be blinded by what's happening behind closed doors. I'm trying to show you what's happening. What's happening? What are institutions doing? What are the whales doing? What is smart money doing? How do people who become successful and stay successful, how do they prepare? What do they do? Okay, we have the opportunity of a lifetime, and I need to show you sometimes the things that go wrong. And I always say things don't go wrong— they don't, they don't, uh, go wrong— they don't end wrong, they start wrong. All right, so it's the starting point. So when you're— if you can grab a hold of this and structure yourself— like, like when I say that, like, things don't end wrong, they start wrong— what I'm trying to explain to you is that you have to have your value set before you make money, right? Before you become successful and before someone put all of that— like, if you took an athlete or someone who's about to get super wealthy, like, overnight, especially, you know, singers, R&B artists, or, or country, whoever, whatever sector you're in, a movie star or whatever that caused you to, like, blow up and really get, you know, get that, that one job or that one role that just, just opened up the floodgates for you, you— that person has to go in with boundaries. They have to go in with values. They have to go in with priorities, okay? Because if you don't, then you'll be reactionary to things that are happening. And so, okay, now you get money. Oh, I got more money, let me spend more money. I got more money, let me do that. You know what I mean? And you have to have that guaranteed before you step your foot in there. So you need to know before the bull run, before the appreciation, before the revaluing of your assets, you need to know ahead of time what are you going to do, when are you going to take profit, when are you, when are you going to, um, scale in, when are you going to scale out. You got to have a plan in place, and most people just do not have a blueprint. And so this is a great opportunity, I think, for all of us right now. I want you to participate in it, and this is where discipline starts to enter. And let me say this, um, Again, like and subscribe if you haven't already, but do not overextend. Do not gamble. Size properly, okay? Size is important. Diversify intelligently, okay? Hold your custody correctly. Have your accounts in order. Start planning. Even if you don't have everything finished, start to plan. And then last, think in years, don't think in weeks, right? Because if the system that we know will expand, and history tells us, yeah, it will, then infrastructure is going to absorb that expansion. And if you are positioned, you will benefit, you will reap, okay? You will. And we won't be spectators here, right? I want to continue to encourage you and to inspire you and to push you to discipline, to push you to structure. Again, iTrust Capital is one of the brokerages that I work with, institutional grade. The link is in the description, $100 free funding bonus. I do like working with also Caleb Brown. Why? Because my execution is there. I don't— when this thing happens and the volatility happens, I don't think you're going to be able to get your buy orders or your sell orders on the exchanges. I just don't think so. I also think you should have some of your crypto in, in cold wallet. And so I work with Tangent on that, and I do have a link in the description for that also. And, um, you know, I do want you to think about something though, and I was thinking about this today myself. Um, if you have your stuff on a cold wallet and something happens to you, who knows how to get into your cold wallet? I want you to think about that. All right, this is the reason why, because I have a lot of advocates of cold wallets, but I'm like if you got everything— I, and I look, I think everybody should have a cold wallet, seriously, okay? I have a lot of them. But like, to not have any in a brokerage account or in some kind of account where it's easy for you to pass on from generation to generation, or, you know, to your children, your grandchildren, or for them to be able to have access— like, I don't think that's a smart plan. Because at least not right now, until it becomes more normalized that people understand cold wallets and stuff. But Think about it. Go ask your— go ask your children, go ask your nieces and nephews, go ask your aunties and uncles, your cousins, or the people around you. Ask them, do they know how to use a cold wallet? The mo— the majority of digital asset holders hold several different cold wallets. There's not a lot of people who own cold wallets. Go look it up. It's, it's the small percentage of people. So if something happens and all your stuff is on a cold wallet, that's going to be a— and you got basically the future of like $100 million in your cold wallet, okay? Because we don't— you know, I'm under the impression that XRP could easily in the future— I'm not putting a timeline on this— go to 4 and 5 digits easily, 3 and 4. But I'm just saying that to say, and this is again, I'm not putting a timeline on this, but I, I do think XRP and some digital assets will go to 5 digits in the future. The sky's the limit, y'all, okay? Just like they tried to say about Amazon and Google and all these other ones. Look how far all of these companies went, okay? Now what you see on the stock market, they have had stock splits. So you might see Nvidia at 2— no, if they didn't do stock splits, these— a lot of these companies would be thousands of dollars, right? So, but, uh, I say that to say, like, do— will they know how to get access to your stuff? So you got to think about that. Like, you got to have trust set up and everything. So when you— if I'm saying, okay, move your stuff to a cold wallet, it's more to it than that. Who's gonna get to it? How do they know how to get to your seed phrases? Who do you even trust to have your seed phrases? Like, these are things you got to think about. And that's why sometimes it will give you a peace of mind to diversify. Have some of this stuff in a Roth IRA. They can get to that if something happened— you— happens to you. Have it in a brokerage account, an institutional-grade custody account. They can get to that, some of that, if something happens to you, okay? And I know some people who just don't want to deal with the cold wallets and stuff, but as far as passing things on to your generation, I think that's another place where, uh, an institutional-grade custody account will benefit you, okay? So I did— I just wanted to say that just to give you something to think about, okay? So, um, but again, also, Caleb and Brown, I do have some price targets that I'm going to sell there. I don't want to be tied up with the, uh, with dealing with the exchanges on that. I just think that's a bad idea, and there's going to be a lot of slippage, a lot of volatility. And so I don't, I don't want to trust that process. Um, I like certainty. And so again, the link is in the description. You can reach out if you have any questions. They both have amazing customer service. But I'm just telling you, for— again, nothing I say is financial advice, it's for educational purposes only. But, um, consider your Roth IRA and your premium custody account. Seriously, guys. Um, also, we do have our coaching community. The link is in the description also for that. We build, uh, help you to build portfolios. We talk through position size, uh, we talk through custody and risk layers and tax awareness and LLCs and, you know, the structure that we're talking about. We go through all of that, okay? Uh, because if you're going from position to infrastructure, you have to operate differently than the crowd do, okay? So, uh, that's what we're doing. We're planning. I also have my schedule open for one-on-ones. I have a few people that's been signing up for that. Um, you know what, I want to say something, and I appreciate all of y'all. No, Robinhood don't have a cold wallet. And be careful on some of those brokerage accounts because, um, I was just— I didn't know this because I would never purchase like cryptocurrency on Robinhood, but, um, I— someone said you can't even take out your digital currency on Robinhood. You have to liquidate first. Okay, so just know that. All right, now, uh, iTrust Premium have an account that also you is a closed loop, but if you're with them long term and you're trying to stake and get yield, that's a, that's a part of the game plan. Robinhood, I'm not certain what they're, you know, thinking about as far as like yield and sticking with them long term and stuff like that. I would not trust them with my XRP or any of my digital currency. Um, so, um, yeah, so I just wanted to point that out. But I'm—

I—

Robinhood is not a cold wallet, it's a brokerage account. Okay, so if your crypto is in Robinhood, it's on a brokerage account. A cold wallet would be like a Tangem, a Ledger, a Trezor, Decent. Um, that would be a cold wallet. It gives you complete ownership, you have the keys. Uh, now be careful because some people can hack and, you know, they're scam artists, and make sure you're sending it to the right place and all of that. Uh, those are things also that we go through in our community. Uh, just make— I'm live with my members. I'm always walking them through all of this and giving them the resources that they need to have in order to keep everything protected. All right, so just be care— very, very careful with that. My biggest thing is I want to bring awareness to you all. I want to continue to educate you. Um, I want to help you to build generational wealth but also to keep it. Building it and keeping it are two totally different areas of like implementation. Like, they're, they're different. They're like night and day. As you see, a lot of people can make it, but a lot, a lot of people can make money and, you know, yeah, generate income, but not a lot of people can keep it. And I don't know the full story. Let me just say this also, I don't know the full story. Again, of everything I said about him is allegedly. I just want to say that because I don't know the full scope of everything, but something ain't— the math ain't mathing for somebody at 50 years old to come back and to want to fight. That's all I got to say. Now, will people watch it? That's a different story. They, you know, clowning that, you know, they just— we got to watch what, a 250-year-old or a 50-year-old fight somebody who— I don't know, you know. Mayweather, he was a great fighter, a great, uh, defender, um, one of those boxers that don't get hit a lot. Um, or didn't get hit a lot. I don't know what it's looking like now, but his, his quick reflexes, I, I don't know how quick those are right now. You know, when you get older, I'm sorry, you, your body is just different, okay? So time will tell what, what, what that looks like. But, um, I, I don't— the math ain't math. I don't care what nobody say. Um, I'm in— I'm inclined to believe that no 50-year-old who's made over a billion dollars would want to get hit in the head anymore. After that unless they needed the money to do so. So I don't know. Um, quick question. Oh yeah, I have the link in the description for, um, my one-on-ones also. I just saw somebody before I got on signed up. And so, um, do I trust Coinbase, you know, as a, as a, an exchange? I mean, they're fine. I, I have a little bit of crypto on Coinbase. Um, I, I tend to buy on some of these exchanges and then move them over But I'll be honest and tell you, Coinbase, I haven't been— I haven't bought— I haven't really been buying on Coinbase, um, lately, like in the last 6 months. I used to, and I still got a little bit of crypto there. Um, I don't— I don't like it as much as I do like Kraken and Uphold, I'll say that, right? And so, um, and I'm not sure exactly which, uh, exchange they— they work with a cold wallet. Um, I don't know if that's a question or if that's, um, a statement. I know that they— I'm just trying to figure out where do they hold their— I think they work with— they work with a couple of different, uh, places. I think they work with some cold wallets also with, um, holding some of the crypto there as well. And they work with, um— I forgot to say too that their physical— their silver and gold is backed by physical silver and gold as well. And so they hold that also on a vault. All right, um, but if you have any questions about iTrust, where they hold their crypto and things like that, they'll, they'll explain all that to you. They're, they're amazing. But I do think, you know, I believe in diversification in a sense of like just kind of creating that hedge. Like I said, uh, cold wallet is for you, it's for your long-term, your emergency cold wallet, whatever that looks like. Nobody own— nobody owns anything. I have it here. When you have a brokerage account, there— it should be for different reasons. First of all, a Roth IRA, tax-free. Anything that gets liquidated from that, I do not have to pay taxes. I love that. I love having a tax-free account. I don't care what nobody say. Um, and then again, if you make too much money, you can do a backdoor Roth and, and then move it from a traditional, uh, traditional IRA. And then I love having the premium custody account because you can already make income off the assets that you hold. So you'll experience the appreciation and you can experience yield. Listen, after the Clarity Act, a lot of these institutional-grade custody accounts are going to be able to provide different financial services like yield on some of your crypto. Um, so I'm looking for also yield on XRP in the near future, um, as, as we get more clarity uh, with some of these digital assets. You know, they can't—

they—

it's— they have limitations to what they can do until we get clarity in general for digital assets. And so, uh, that's why I think it's going to be a game changer after that when we get this, um, Clarity Act, um, passed. And it's not that things happen right away, like it takes time, okay? But it moves us in a great direction and super bullish for the future in the right coins, in the right utility coins. Because even some of the good utility coins, I think at some point they are going to crash, just like Brett said 99% of digital currency, 99% of the coins are going to zero. And I believe that after the Clarity Act, because it's not a— it's no— it's not going to be about speculation at that point. It's about infrastructure. It's about structure. It's about are these coins going to be utilized? Do they have a use case? Do they have institutional adoption, right? Um, can you speak more about the things you disagree with Dave Ramsey? I felt the same way. Dave Ramsey is for the middle class. He is for people who don't have discipline, who are very, uh, reckless with their spending. And so he kind of comes in and say, listen, forget about— like, most of you are gonna spend, spend, spend. You're consumers. You're gonna go in debt, like spending money on, you know, spending money you don't have on things you don't need, basically. And you need to stop doing that, and you need to just focus on paying off your debt and you need to focus on, you know, structuring your, your, uh, basically going all in. Get your emergency fund, pay off your debt, you know, pay off your house, and just different stuff like that. Now, where I tend to disagree with him in is, um, and I'll get to the Super Chat, is that, um, wealthy people use debt. And so he don't believe you should have any debt, but he's talking to people who don't know how to use debt. That, that's, you know what I mean? Like, so the average person don't know how to use that because why? They're using debt to go buy them a new pair of gym shoes, to take a vacation, to get married. You ever had people who use debt on a, on a wedding and then you wake up and now you, you done used all this, you don't spend $30,000 on a wedding and now you're in a marriage and you ain't got no money and you're $30,000 in debt. Here comes the bride, here comes the groom, we $30,000 in debt. Okay, so it doesn't make sense. Like, people need to like— and you, and you doing all of that for who and for what? For people to eat? No, you better cut that list in half, okay? Because these people ain't even gonna give you a wedding gift, okay? Anyway, I digress. All right, um, I digress. But this is the kind of person that he's talking— consumers, they're gonna go in debt with liabilities, okay? So he has to probably talk like that. Okay? And he has enough money. If he, if he bought everything cash, that's fine. But you got somebody like Robert Kiyosaki, and you know, people who are— well, they use debt to leverage, all right? So they're going to borrow against it in a smart ratio, a smart debt-to-loan ratio, a smart debt-to-value ratio. And they're going to take that money that they leverage from building their, you know, their net worth and their assets, and then they're going to invest it probably in another investment. Maybe it's real estate, maybe it's land, maybe it's a farm, maybe it's whatever, maybe it's a cat— just a cash flow business. And then they're gonna— that business is gonna appreciate, and then they're gonna take money from that business, and then they'll do— they know how to move money around in a smart way, right? So I don't believe in the don't have any debt. Once you reach a certain status and a certain mentality, I think debt can really service you.

Why?

Because you don't have capital gains. You can, you know, you don't have to pay taxes and stuff like that, but you have to build first. And that's the problem, is that people are not able to build because they have liabilities. So it's hard for him to jump over into that type of teaching if these people are like, you're in debt, you got credit cards, you're just buying stuff and you don't need it, you know what I mean? Um, another thing I don't agree with him in— I don't, I don't want to pay my house because why? It's not a— it's not an asset, it's a liability. So I, I'm okay with a mortgage, all right? Because I don't— if I pay off my house, I can't even get access to that money. Well, I could borrow against it, definitely, for the equity and stuff, but you know, that takes too much time, you know what I mean? I'd rather take that money— like, let's say you owe $200,000 and it's like, did somebody give you $200,000 and his thing is pay off your, pay off your house? Well, that $200,000, I could put that in a property and get cash flow out of that. So why I'm gonna put it in my property and lock it up to where I can only get it if I go through the bank and it take time and I got to go through paperwork and all of that other stuff? I would really rather put that into something else that's going to give me more cash flow. So I think he's called to the middle class, the middle class mindset. He's called to the consumer, okay? And the other ways of leveraging debt and stuff is called, called to the millionaires and the billionaires. And that's the way I tend to think. Okay, thank you so much. I appreciate this so much. I appreciate all of you all for your investments. Um, and I'm not gonna get to all of these questions. Uh, uh, you gotta go back and listen to Ripple. Ripple said Ripple always states that, uh, XRP is their North Star. What's your opinion on a p— on individuals who say Ripple doesn't need XRP to raise in value because they can use RLUSD? Uh, no. I mean, that's a stablecoin. I mean, when we talking about stablecoins, all we talking about is digital fiat money. Trust me, uh, XRP is their North Star. They talk about it all the time. Um, it would benefit them for, of course, XRP. But you, you, you heard— have you heard them say that they feel like they can become the first— what was it— a trillion dollar, uh, or, um, uh, company or something like— or what did they say? I'm trying to find the right language for it. Um, I'm trying to find the right language for it. Basically, the first company to enter into— I don't know exactly the amount that they said, how many trillions of dollars that they said, um, but they want to be the first company to do that. And they would be able to do that if XRP went to higher digits. Trust me, um, they're— they, they want XRP to rise just like anybody else, right? And, um, it doesn't matter what Ripple needs XRP to do. You guys got to also remember that— so let me just say this. XRP can make Ripple, um, Ripple's evaluation increase. Ripple is not going to make XRP's valuation increase. Okay, y'all get that? Because they own— they have XRP on the books, but XRP is just like somebody saying we own a bunch of real estate, right? The company is— let's say somebody owns a, uh, $500 million worth of real estate on their books. As a company. They're not— their company is not going to make the evaluation for the real estate increase, but the real estate will make the valuation for the company increase. Okay, so XRP going to higher price actually helps Ripple as a company. Ripple cannot help XRP's price, all right, um, because XRP is not a security. It is not tied to Ripple in that way. It is a commodity. Okay, so it's like gold. Think about gold. If you have a lot of gold under your belt and, and, and precious metals, then your evaluation as your company, if it's on your books, can increase that— the company's, um, valuation, right? But it— you can't make the price of gold go anywhere. The reason that XRP's price rises is because of necessity. When the system needs it and there's a liquidity crisis, it will reprice according to the necessity of it, right? So we gotta just— it doesn't matter if somebody— yeah, Ripple is invested in RLUSD, but that has nothing— that is, you got to think of it differently, okay? So hopefully I explained that. Like, it— but the price will help Ripple out. Ripple can't necessarily help XRP out in the same way that XRP can help Ripple out. Okay, so trust me, they, they would want it to because they hold XRP on their books. Their stablecoin is just a stablecoin, like it's just digital fiat. It's all the same. Um, I mean, it's, it's the digital form of dollars in a sense, right? It's pegged one-to-one. So, um, yeah, that's the way I see that. Oh, sorry, I'm sorry about that. What, what question did you have? I, I couldn't— so by the way, my questions weren't coming through. Um, so I didn't see your question, but what was your question, Richard? Don't get upset now, you don't have to get upset. What was your question? Somebody says— you said, why are you so emotional about this? Like, obviously I'm not seeing the question. I'm looking through— I told you guys from the beginning that I'm not— I don't see all of my, uh, chats. They were coming through late. And I'm not going to answer everybody's questions. Do you know sometimes I have thousands of, uh, stuff going through, right? Um, now I don't mind answering your question if you put it back on here. I have not seen your question, right? Uh, but you don't— okay, you have a lot of XRP, Richard. And so, but what was your question? And why are you so mad? You should not be that mad, right? You shouldn't be that mad on somebody's YouTube stream because they missed your question, that should not make you that mad. You need to do some deep breathing. Um, thank you for breaking it down. I appreciate that too. I appreciate that. Uh, okay, what do you— what do you like more, XRP or gold? I like both of them for different reasons, right? I like both of them for different reasons. Um, I mean, gold is, uh, is, is real money, right? And XRP is the next infrastructure. It moves value. It's going to be able to move money. Um, so I like both of them and I hold both of them. I like them for different reasons. XRP and gold has a strong— actually, I just bought some more gold, uh, last week. Some more gold and silver last week, right? Um, somebody said, yeah, yeah, I was— I, I, you know, y'all don't get—

don't get upset.

I don't understand why you would get upset. Like, you're not mad mad at me, right? You're not mad at me, you're mad at something else. You may have had a— see, I'm okay, I'm okay with being patient with people. Sometimes people just have a frustrating day, like maybe they, you know, you know, you just, you get tipped over and then you get on somebody's YouTube live and then you're mad because they're ignoring you, and that's a deeper issue. I know that that doesn't come towards me. That's why I redirected back to something he needs to do, because it's not really that I need to answer a question to calm— I'm not here to manage anybody's emotions, okay? That's something that you got to work on. And that's why I say, hey, you got to ask yourself, why are you that upset because somebody missed your question? I'm gonna miss a lot of people's questions, right? And so I just, you know, hey, I just redirected. And then, you know, and okay, well, Richard, you, you say you're not mad, but you, you on here like got all caps and stuff, and she's— and, and then you said I'm disrespecting you. This is my YouTube live. How am I disrespecting you? I'm on here giving education. I'm not disrespecting anybody, right? How did you get to— you know, you gotta see that external stuff that, you know, where, where people start to put their anger on somebody else. You disrespecting me because you upset. Like, that's called displacement, right? You can't do that. You can't displace your anger on somebody else and then tell them they're doing something wrong. I'm not doing anything wrong. I'm here educating on YouTube, okay? And I think that that's an internal issue, and I really do think you should just do some deep breathing for a minute. That's, that's on-demand, you know, nervous reset, um, because you were upset. You put all caps on here, and I just— I need to say this out loud because anybody who is getting upset that I miss your comment, I'm on here managing a lot of comments, okay? The ones that do stick out are the Super Chats. So everybody who do YouTube know that when you do a Super Chat, it is respectful to try to get to all the Super Chats, and they stand out, like I can see them because they're colored. Okay, um, and so that's just my respectful way of saying I appreciate that you're investing into the channel and stuff. Um, so, um, anyway, um, yeah, and I don't, I don't, you know, I'm not— I, I know some people probably think it's a distraction, but I have to say stuff like that sometimes, so, you know so that we— you, you understand how I operate, right? All right, so, uh, is it possible to give XRP to family and friends on cold wallet and avoid taxes before price? You can, um, I, I— you can. There's different ways to gift them, but yes, you can gift your family and friends, um, and there's a certain limit. There's a cap on how much you can give per year. I can't remember it off the top of my head. I don't know if it's like $18,000 a person or— yeah, I can't remember, and I don't even want to scream out the numbers, but there is an amount you can gift, and a lot of people have to do that. Okay, uh, thank you so much. I appreciate this, uh, so much. So, uh, uh, I'm looking at a couple of the, um, I mean, one of the— I got a lot of gifts, I mean, books, uh, gifts. I got a lot of books that I recommend, um, but the first one I'm always going to say is, uh, Think and Grow Rich. If you haven't read that book, that is a book that everybody should read. Uh, one of my, um, one of my favorite books also is How to Win— how to— I can't remember the exact name of it. How to Win Friends and Something Influence. That's one of the books that I read every— I just know, I, I don't know the exact— the way it's— but it's a book on how to win friends. It's basically a leadership book, okay? It's a leadership book. But I gotta— I mean, I got a ton of— like, I don't know if you talking finance, mindset, um, health, you know what I mean? Like, uh, the Bible is an amazing book. I read that every single day. Uh, that's one of my, my, my best books that I read. Um, somebody say, wow, I'm giving it attention. Um, because I know it's other people who, um, uh, who are, you know, may feel a certain way if I don't answer your questions. Anyway, um, I have thousands invested in XRP through Robinhood. Should I sell? If so, what? Uh, no, I wouldn't sell in a bear market. Okay, so if you can't move it off, because I don't think you can, uh, I would not sell in a bull— in a bear market. I would hold on. Um, not financial advice, but I wouldn't sell in a— yeah, you, you sell when the, when the price, when it reprices, right? Um, thank you so much, Devin. I appreciate that so much. Um, all right, all right, I'm just looking through a few more questions. Um, somebody said, yeah, I, I think so too. I think we got a really bullish year ahead even if we're in the way of some volatility right now. And then let's see. Hey Kamilah, I appreciate your knowledge and thank you for sharing it. You said something about wrapping your XRP with Flare. Can you explain it a little bit more?

Thank you, Hud.

I appreciate that so much, Battle Tested. Um, yeah, you can earn yield. You can wrap your— I mean, it's a process. I always say it's kind of complicated. You kind of gotta— it takes a little time to do. But basically, uh, the way I did it was, you know, I went through Bifrost. You, you do have to own Flare. Of course you have to own XRP, you have to go through a process where you transition your Flare into wrapped Flare. So that would be Flare is FLR and it goes to WFLR, which represents wrapped Flare. Then you have to wrap your XRP in Flare, so it goes from XRP to FXRP. And then you have to go through a minting process. Um, you do have to use the Flare network, so you have to go to their, uh, their website. They have a video that explains a little bit more on how to do it, and then you can throw it in the pool and, you know, in the DeFi system and you can get yield off of it. Different ones offer different yield. Don't always go for the most highest yield. You might have some that say we'll give you back 18%, but sometimes the higher ones are risky. So just be very careful. The entire process is still risky, so only test with small— I would say only test with small amounts at first and then see how that does for you. But, uh, but yeah, I, I do have my, uh, XRP wrapped in Flare and I continue to buy Flare because I do want to continue to wrap more and more. Um, I think the XRP credit card is fine if, if you want to earn, uh, free XRP on the— it's just like having points, you know what I mean? Like, um, some people use credit cards for travel points, um, you know, for the, you know, for flights and hotel and, you know, and this one is for XRP. So I feel like, hey, if you're spending money anyway and you want to get XRP back for free, why not? Uh, I've been using Uphold for a long time. If they came to me and and wanted me to, uh, work with them to try to get you guys a deal, I would do it because I think it's phenomenal. I'm all for points and stuff. I haven't paid for a first-class flight in probably 5 years. Why? Because I use points. Like, everything I use credit card, you know. So that's another thing, like, if you're dealing with somebody who's a consumer, telling them to use credit cards, sometimes they get in credit card trouble. So again, you got to be very, very disciplined to do this, but I use the— instead of using a debit card or a checking account, I, I use credit cards that give you points, and then I put that money right back on there. So don't get in trouble because them credit cards have high interest rates, and you will get in trouble if you don't have good discipline. So that is only for if you don't have good discipline. I would not— I would stay away from it, period. You know yourself, put your own restrictions and your own boundaries on yourself. But if you are disciplined enough to pay it off and not have any high interest rates or anything like that, because I don't know how high the interest rates are, then I think it's great. You— if you're gonna spend money on a debit card or something and you replace it and spend it on this card and you can get back free XRP, absolutely, it's a no-brainer in that situation. Okay, all right. I am not— like I said, somebody said stay away from, um, Robinhood. Uh, I'm not going to, um, get to all of the questions. I'm trying to, um go through. Yeah, I'm not gonna get through because honestly some of these questions came for me late. Uh, it wasn't coming through at first, so I'm kind of a little behind on it. Um, I'll do one more. Any advice for my mom? She has money sitting in her Roth, not in— oh, not invested. I know strategies are different. Wow, it's not invested. Okay, well get it invested right away. I'm not sure where her— again, not financial advice, for educational purposes— I'm not sure where her you know, if it's in a— I'm assuming a traditional account, um, I would start— oh man, we at all-time highs too. I mean, I would start investing it on red days and dollar cost averaging if she hasn't already invested it. Or what she could do is she could transition her money over, some of that money over, into a Roth IRA with— that can hold digital assets.

Why?

Because see, right now— and this is why I keep talking about digital assets— I'm investing in the stock market, y'all, okay? I'm totally invested. I've been nibbling on Netflix. I'm just waiting on a bigger crash. I've been buying ETFs, uh, I, I buy, uh, ETFs every week. I buy stuff every week. I buy NVIDIA. I buy like clockwork, but I'm not going all in until we have a good dip, okay? So I'm just kind of nibbling right now. Last year, August— August— April 2025, stock market crash, S&P 500 was in the 400s. That's when I was all in, right? Amazon, like was maybe some of the— some of them stocks was under $100, okay? They were on sale. I can't remember which one— what the price points are, all of them right now, because I got so many of them, right? But stock market all-time highs, digital currency all-time lows, bear market. So if I were her, I would probably move some of that money over into a Roth IRA that can hold digital coins, at least a little bit of it, right? Because Digital coins right now are in the red, and I like to buy when things are low, on sale, bloody. Some of these coins are 80% off. This is worse than a bear market, like some of the prices that they're at, right? And so, um, I would expose to a little bit of that, but she's probably traditional. She may not know a lot about digital currency. So if that's not mentally for her, then, you know, she has to start dollar-cost averaging into the wherever, you know, obviously the stock market, probably. Um, but this is an example, guys, of someone who's not— when I say go back and look at your investments, sometimes you're not even invested. And guess what? Go back and look at what kind of gains you could have from 5 years ago to now with the stock market, right? And so, um, thank you so much, Percy. I appreciate you so much. I admire how you're able to eloquently break down finances and economics. I appreciate that so much. Thank you so much. It just, you know, it's a— I'm still learning because everything is new, right? Everything is new, everything is transitioning. And so we're all learning in real time. I'm— and I'm a student at heart, you know. I get on here and I talk about a lot, but honestly, most of my day is spent like learning. Honestly, okay, I'm a student before I am even a teacher or whatever you want to call it, um, and, uh, I'm always learning. And so I do that to try to present as much as I can, as much value because I want to be valuable. Um, is Flare a must with XRP? No, it's just one way that you can gain yield off of your XRP, one of the many ways. Remember I told you guys to go back and watch the most important video I've ever done on XRP called How the Wealthy Will Use Their XRP, and I talk about all the different ways that you can use XRP to gain income, right? And so, um, okay, so she's traditional. Um, she can do some rollovers, you know, see what her options are. I think that that would be the first place to start and see where her options are. She can start nibbling on the stock market. But again, I hate that she missed out even a year ago with the stock market being at all-time lows, because there's some people up 100%, 200%. I mean, I made a lot of money off of even just from one year ago. All right, um, so yeah, uh, I— she's old school, okay? So she— yeah, she, she would need to be educated if she wanted to, um, if she wanted to definitely transition into digital. Currency. But it's the same thing, it's a brokerage account that just holds XRP like a brokerage. I'm just saying that's where a lot of upside would be, um, at this point. Uh, but she can definitely start investing in the stock market, ETFs even. She can— oh, she can invest in XRP and some of the digital currency ETFs too, you know. So Bitcoin ETF, if she want to invest in Bitcoin ETF, um, but XRP got an ETF too. And as XRP price rise in the future, uh, the ETFs give exposure to that price appreciation. So that would be a great start as well, um, if she wanted to. But I love NVIDIA, I love, you know, Microsoft, I love, you know, um, companies that we use, Amazon. I love long-term, I love Netflix long-term, I love, you know, um, the Magnificent Seven, all of them, um, you know, Tesla. I'm sure at some point is going to really have, um, greater value, you know, um, with all the robots and stuff. I mean, so yeah, there's a lot of great companies, um, that she can, uh, invest in that will be solid companies. Like, I mean, Amazon is a beast, you know what I mean? They own the whole internet pretty much, you know. Uh, Google, Google, we're on Google right now, we're on YouTube right now, right? Google owns YouTube. So it's— yeah, um, yeah, XRP, uh, ETFs. Yep. So tell her she can you know, start investing in that, you know, some of those ETFs, and they're going to see price appreciation as well. So there's some, there's some good, there's some good, um, with her having at least the money. Hey, some people don't even have the money to invest right now, uh, so the good thing is she got money in a Roth IRA. Tell her to, you know, um, to deploy that money as best as she can. All right, so, and you know, everybody are trying to understand the digital currency is the hurdle. Yeah, yep, trying to understand it is the hurdle. I just think that somebody— that some people are gonna come back and say, dang, I missed it, you know what I mean? And I, I hate— I don't want y'all to feel that. I don't, you know. Uh, first of all, I appreciate you giving to this channel. Once iTrust Roth satisfies all requirements, can assets be moved, uh, to the cold wallet? Great education here, thank you. Yeah, I think, um, they— for the Roth IRA, yes. I think after, uh, the Roth, um, is satisfied, you can move those assets. Yes, I believe that to be true, but always, you can always double-check with them, um, and just ask them that question. But I believe so in the Roth IRA, yes, because it's not a closed-loop account at all. So, um, yeah, I, I think that is good, right? Um, yeah, this video is, uh, well, I'm on StreamYard. I stream from StreamYard. Um, so, but it is, yes, it's on my YouTube page. Yeah, so, and, um, and anything that I use, I pretty much like investing in. I love Google as far as AI, quantum computing, like people trying to— what's the next one? What's the next AI? This, like, Google— Google is everything. Um, and that doesn't mean these companies don't have ups and downs, um, because they do, they do. And, um, yeah, they do. But if you're long-term, you got to understand, like, is this a strong company? Is Google going to be around in the next 10 years or whatever? And if— and I'm, I'm with them until they prove me otherwise. I look at the fundamentals, the CEO, the profit, the PE ratio, the debt, how many assets they own. I look at their quarterly earnings. NVIDIA just had one today.

They—

I think I got the notification that they killed it. And if you don't know, NVIDIA is killing every quarterly earning. I love what they're doing. So it doesn't mean that they don't have ups and downs, and the CEOs don't go through ups and downs and all of that. But, um, all right guys, uh, one of the things— all of the links are in the description that I talked about. And, um, I just, I just want you guys to understand that it's really time to plan. It's time to structure. We've been giving a little, a bit of space, a little extra time to do this. I'm telling you, things can happen quicker than you expect, right? Just plan, y'all. We got the time to plan. Do so. Plan. Even if you got to move a little bit into a Roth IRA, IRA, a little bit into, uh, institutional, just even if it's a small amount, do what you need to do, um, to start looking into these options. Uh, last one, just, uh, started my Roth IRA investing, I'm 24.

Awesome!

Oh my goodness, this is amazing. And I also have XRP invested with Robinhood. I looked it up and you can put it crypto into a cold— okay, you can. It was another brokerage account that somebody said you couldn't move the crypto off. Um, why do I say Robinhood is bad? Um, because I don't like how they, uh, go look up what happened with GameStop. Um, and what— how people couldn't buy and sell when there was opportunity for them to sell out, and there was a lot of volatility. Um, so if, if you're trying to take profit or anything, I just— they be doing some shady stuff sometimes to me. And, um, not that I don't— I, I trade with Robinhood. I love them. I think they're the— so Robinhood is the brokerage account I would tell somebody who's just getting started or who's younger. It attracts young people. And all of that. So it's okay to use. I like, I like that they're innovative. I feel like every month they coming out with something new. But when I think about the repricing of assets or people trying to get out, all I keep thinking about is GameStop, and that scares me. So if you're long-term and you're just holding through all the volatility, that's fine. But if there's something that you may want to take profit on that you think may be repriced like XRP, I would not leave it on there because— and just go back and look at what they did with GameStop and what happened. Oh yeah, that's the name of the movie. You can actually go watch Dumb Money. It was really, really good, very a true story, and it talks about what happened. And I just don't like that. Um, so, and I see a couple of people understand what I'm talking about. But yeah, um, people could have made a lot of money, but they couldn't because Robinhood stopped them from being able to make any moves. And I think it was absolutely horrible because people missed out on life life-changing money when they did that. All right, so again, get your structure in place. The links are in the description for everything that I discussed. I appreciate each and every one of you all for taking the time to be here with me. I'll be back on, um, watch my pre-recorded videos. I'll be dropping them throughout the week when I'm not on live. The next live will be on Saturday. And I want you to know that if you fail to plan, then you plan to fail. Always remember that. All right, and as always, I want you to stay wise Stay wealthy, and I'll see you in the next video.