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Ash Cash Breaks Down If We Are Losing Money By Putting It In Banks | SWAY’S UNIVERSE
May 7, 2021
Ash Cash discusses cryptocurrency, money and relationships and post pandemic investment options on Sway In The Morning.
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Ash Cash Breaks Down If We Are Losing Money By Putting It In Banks | SWAY’S UNIVERSE https://youtu.be/Hf9Ix9WxbrE
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0:00
it's a great story yeah there's a lot of
0:01
great stories that come out of the inner
0:02
city
0:03
and i'm just one of the many but i want
0:05
to tell people every time i go into a
0:06
meeting
0:07
i get to tell that story
0:11
there it is ladies and gentlemen inside
0:13
the vote with ash cash when we met him
0:15
and he
0:16
he was like what is this thing a
0:17
microphone and now when you look at a
0:20
man he's producing directing
0:22
writing he's doing it all every single
0:24
day a financial educator one of the
0:27
nation's top and you can see them all
0:29
over the internet giving up
0:30
game for free ladies and gentlemen the
0:32
one and only ash cash
0:34
it's back
0:35
[Applause]
0:40
peace and blessings man how you been bro
0:42
i love watching you i love
0:44
the information you're giving people on
0:45
a daily basis how you been
0:48
y'all you know i've been i've been i've
0:49
been great man good good news thursday
0:52
the good news is that we woke up this
0:54
morning and so you know i've been great
0:56
um you know i mean first and foremost i
0:58
agree with you i thank you
1:00
you know salute man like literally you
1:02
know you know i i did other interviews
1:04
but sway in the morning kind of took me
1:06
over the top when people started seeing
1:08
that i was connected to the big bro to
1:10
the legend they was like wait hold on
1:11
let me
1:12
let me listen to what this guy got to
1:13
say and uh it's just been a blessing to
1:16
be able to
1:17
uh really help people change their
1:18
mindset really help people
1:21
from a tangible way you know take
1:23
whatever situation is given
1:25
and make the best out of it right and so
1:26
tracy said earlier
1:28
you know how if it wasn't for 2020
1:31
and the pandemic then good news thursday
1:33
wouldn't have happened and
1:34
and that's what's happening in this
1:36
financial world as well
1:38
is that if it wasn't for the pandemic if
1:40
it wasn't for a lot of
1:41
you know you know this you know the
1:43
negative that we could potentially see
1:45
out of it
1:46
a lot of the positive that is coming out
1:49
of uh you know the pandemic and will
1:51
come out of this financial world
1:52
it wouldn't happen and so for me as as
1:55
one of the front line workers
1:57
you know you know in in the the
1:58
financial empowerment movement
2:00
uh it's a great time to be alive all
2:02
right ass
2:03
cash i love that energy right there i am
2:06
ash cash man follow him
2:09
all right man we we're gonna actually
2:10
the lines are so lit up i don't even
2:12
know if i want to get to my question
2:14
um but uh let me let me start
2:19
i was having a conversation with someone
2:21
recently about
2:22
savings and putting your money into
2:24
different savings accounts
2:26
at a bank and just letting it just
2:28
regular savings account and then letting
2:30
it sit
2:30
and how money just sitting like that
2:33
that depending on the rate of inflation
2:36
at the end of the day
2:37
in the long run you could actually be
2:39
losing money
2:40
um can you speak to that ideology that
2:44
that that theory right there and where
2:46
we are and the rate of inflation in this
2:48
country
2:49
compared to interest rates you could
2:50
collect uh putting money in the savings
2:52
accounts
2:54
yeah absolutely and um you know this
2:57
this might be
2:58
um contrary to what every
3:01
um you know old person or anybody with
3:04
wisdom might have told us
3:06
um but saving money in the bank is the
3:08
worst thing you could possibly do for
3:10
your money
3:10
right um and the reason for that is
3:13
exactly what you said
3:14
is uh when you think about inflation
3:16
rates uh
3:17
you know being being you know you you're
3:19
not even getting
3:20
you're not even getting a percent right
3:23
you know
3:24
in the bank and if you do get a percent
3:26
um you know
3:27
inflation rate is around you know two
3:29
and a half three percent or you know and
3:31
and
3:32
and it continues to increase right and
3:34
so if you think about that just from a
3:35
basic
3:36
mathematical perspective uh if you put
3:39
your money in the bank
3:40
and you allow it to earn you let's say
3:42
you're lucky and you're getting one
3:43
percent
3:44
um you're losing two percent of that of
3:46
that value
3:48
of that ability to purchase you know
3:50
every single every single year right
3:52
and the reason why um putting your money
3:56
in a savings account is one of the worst
3:57
things that you can do
3:59
is because money uh is a tool and we're
4:02
supposed to use money
4:03
and we're supposed to circulate money
4:05
we're supposed to use money
4:06
uh in order to to live the lifestyle and
4:09
get you know get the things that we want
4:11
um you know i i know you know wu-tang
4:14
told us back in the day they said cash
4:15
rule everything around me right
4:17
but it's not really just cash it's cash
4:19
flow um and so what i believe
4:21
um is that everybody should have money
4:24
in the in the bank
4:25
uh but the money that you have in the
4:26
bank should be um
4:28
for your financial freedom we used to
4:30
call it an emergency fund
4:32
uh words have power so we're not calling
4:34
any emergencies into our lives so i'm
4:36
not gonna tell you
4:37
save money for an emergency but i am
4:39
gonna tell you uh that you should have
4:41
six to eight months of expenses
4:42
in an account um so that if anything
4:45
happens like when we look at the
4:47
pandemic
4:47
you know last year and people losing
4:49
jobs and things of that nature
4:51
uh you don't want to shake up your
4:52
lifestyle by not
4:54
having money in a financial freedom fund
4:57
at least six to eight months of expenses
4:59
but beyond that
5:01
right if you're just sort of
5:02
accumulating money just for the sake of
5:04
accumulating money
5:06
um and then then we're we're focusing on
5:09
you know how money works the wrong way
5:12
the goal should be
5:14
you you should invest your money and you
5:16
should be investing your money in
5:18
income producing assets that allow
5:21
you to gain some cash flow because cash
5:24
flow
5:25
is what rules everything around us right
5:27
which means that when you you know
5:29
people talk about multiple streams of
5:30
income all the time
5:32
which means that if you have money
5:33
sitting in a savings account
5:35
and the money is not working for you
5:37
then it's losing right
5:38
but let's say you have money in and you
5:41
know you have money and you now
5:42
allow that money to work for you and
5:45
from that money that's working for you
5:47
you invest in an income producing asset
5:49
now that income producing asset is
5:51
giving you more
5:52
cash flow now you don't have to worry
5:55
about losing the job you don't have to
5:56
worry about
5:57
you know the shift in the economy
5:59
because now you're building these
6:01
multiple streams of income
6:03
and that's what the true financial
6:04
freedom is that's what what
6:06
you know allowing yourself to really use
6:08
money the right way
6:09
is by investing it is by circulating
6:12
circulating it and not
6:13
allowing it uh to be a dead ass set
6:16
right yeah you know you you don't hide
6:18
new york we say you say dead ass
6:20
you don't want money to be a dead asset
6:22
right you wanted to to be working for
6:24
you so
6:24
just leaving in the savings account is
6:26
not the best idea
6:28
uh and i think that's excellent um
6:31
especially when you do the math
6:32
a lot of people aren't professional
6:34
investors though ash cash right
6:36
and don't know really where to put it
6:38
into a money-making asset
6:40
uh where to actually gamble if you will
6:43
or or or the place in the area where
6:46
there's
6:47
a lower amount of risk right so
6:50
what would you what would you suggest to
6:52
them where do they look what kind of
6:54
simple investment um outlets would you
6:56
suggest
6:57
people look into if they're not
6:58
professional investors they're not
7:00
really
7:00
big on the finances like that but want
7:02
to learn
7:04
yeah for sure for sure i i i would say
7:06
number one
7:07
so there's two there's two main um or
7:10
three
7:10
main places where people could could
7:12
invest in money
7:13
uh in order to allow it to circulate
7:16
right so
7:17
number one uh is and you know in the
7:19
market right so stock
7:21
bonds um you know you know mutual funds
7:24
uh i would i would venture to say you
7:26
know cryptocurrency
7:28
um then you have real estate and then
7:31
you have a business right
7:33
um and so as it relates to to the to to
7:35
the market
7:36
um the one of the great things about the
7:38
market
7:39
uh is that it you know the market is
7:42
there there aren't no guarantee returns
7:44
uh but if you are looking at uh the
7:47
history
7:48
of the way the stock market performs uh
7:50
you could really
7:52
i mean you'll know uh that in the
7:53
history of the market the market is
7:55
always going up
7:56
i mean if someone is just starting out
7:58
and someone's not a sophisticated
7:59
investor and
8:00
you know is not looking at the markets
8:02
every day uh one of the things that they
8:04
can do
8:05
um is invest their money in an index
8:07
fund or an etf which is electronic trade
8:10
fund right
8:11
and what an index fund is uh the index
8:14
fund
8:14
is is connected to a a specific specific
8:17
index or whether you it's the
8:19
s p 500 it's the dow jones uh it's
8:22
specific to uh you know industry or
8:26
is specific to the top companies in you
8:29
know in america and so let's say if we
8:30
say take the s p 500 or the dow jones
8:33
uh regardless of the shifts uh that that
8:35
have happened
8:36
uh within uh the markets uh the the s p
8:40
500
8:40
and the dow jones historically have
8:42
always went up right
8:44
and so when someone's thinking about
8:45
investing you know uh
8:47
uh look at investing as a long-term play
8:50
and not necessarily
8:51
how much rich quick right because long
8:54
term it's always gonna go up
8:55
and so you literally don't even have to
8:58
be uh you know sophisticated and know
9:00
you know you know what the markets are
9:02
doing just if you look at the history
9:04
of index funds or potentially uh ets
9:08
you'll see you know and you see the
9:10
research and you look at the last 10
9:11
years
9:11
20 years 30 years if it always goes up
9:14
what i would suggest
9:15
uh people do is do what's called dollar
9:17
cost
9:18
averaging what that means is don't just
9:21
save money like a lump sum of money and
9:23
once you get a lump sum of money
9:25
now figure out where you're going to
9:26
invest the money i would say
9:28
uh take you know budget your money right
9:31
while you're while you're saving
9:32
for your financial freedom fund budget a
9:35
certain amount of money
9:36
say a hundred dollars a paycheck say you
9:39
know
9:39
fifty dollars ten dollars uh one dollar
9:42
whatever
9:42
you could afford say this amount of
9:45
money i'm going to invest
9:47
periodically into the market and what
9:49
dollar cost averaging does
9:51
is that when uh when when the market is
9:54
up
9:54
then you're going to get less shares at
9:57
whatever price you you
9:58
you've had it at whatever price that you
10:00
you you've decided to to budget
10:02
when when the stock market is down it's
10:05
actually the market you know
10:06
stocks and mutual funds bonds they're
10:09
all on sale so you'll actually get
10:11
more and when you when you do that
10:12
you're you're averaging it out
10:14
and so you're mitigating your risk so
10:16
you're not you're not necessarily taking
10:18
a big risk but that way you are
10:19
periodically investing
10:21
inside of the markets in a way that's
10:24
sustainable to you with like all right
10:26
ten dollars
10:27
twenty dollars a hundred dollars this is
10:28
what i could afford and then over time
10:31
what you're going to notice is that
10:32
there's going to be an increase
10:34
in your in your assets because of how
10:37
you decided to invest
10:38
the other thing is real estate right
10:42
a lot of us were told myself included
10:44
where
10:45
you know you know you know become a
10:46
homeowner right and buy a house
10:48
and most people buy homes to live in the
10:51
first time around right
10:53
uh if i could do it all over again um i
10:55
would do
10:56
what you know with a lot of experts you
10:58
know fast after my brother
11:00
you know julian gordon who's part of the
11:01
multi-family movement
11:03
who's saying do not buy a single family
11:05
home
11:06
first when you buy a place to live uh do
11:09
what's called house hacking right
11:11
buy a home a multi-family home that the
11:14
bank is going to recognize as
11:16
income because it has these
11:18
multi-families in it
11:19
and instead of paying a mortgage the
11:22
tenants that are already in the property
11:24
are now going to be part you're going to
11:26
help you pay that mortgage and then live
11:28
in
11:28
live in the house for one year uh and
11:31
then after that year
11:32
you know if you if you started off with
11:33
a fourth family or three family then
11:35
then the next year do a three family
11:37
then the next year do a two family
11:39
and and if you do that like let's say
11:41
you started with a three-family home as
11:42
a first-time home buyer
11:44
that that and there's programs that give
11:46
you zero percent down
11:47
there's programs that allow you to put
11:49
three percent down there's programs
11:51
fha loans that have a low uh credit
11:53
score so someone starting from scratch
11:55
says i don't you know i don't know what
11:56
to do i have a lowe's credit score
11:58
uh you can use a fha loan do like a
12:01
three family home
12:02
then do a two family home and then by
12:04
the time you get to that single family
12:05
home
12:06
the three family in the two family is
12:08
already paying for the one family
12:10
and so now you have an asset that you
12:12
could you could you could you know you
12:14
continue to build your wealth and now
12:16
the money that you're
12:16
actually working hard for you don't have
12:19
to use that to live
12:20
because your assets your houses are
12:23
what's what's paying
12:24
paying for for for your living expenses
12:26
ash cash
12:27
now listen you you are officially in in
12:30
the lecture right now citizens and
12:32
i wanted to give i want him to give out
12:34
give out your social because i know
12:35
we're not going to be able to get to
12:37
everyone today
12:38
and it's packed the lines are packed so
12:40
if you can't get on
12:41
air today he's going to tell you how you
12:43
can reach him
12:44
every day and definitely follow him
12:46
because he speaks every morning
12:48
go for it bro yeah so yeah so that
12:50
definitely follow me
12:52
uh on all social media platforms at i am
12:55
ash cash
12:56
very active on ig uh like you said i'm
12:58
every single morning dropping free game
13:00
i do respond to all my my dms and
13:04
messages so
13:05
uh i am ash a-s-h-c-a-s-h
13:10
uh let me go to a caller real quick and
13:12
then uh and definitely want to invite
13:14
heather and tracy to um jump in brittany
13:16
from queens grand rises brittany
13:18
hey brett hey hey grandmas and grandmas
13:22
[Applause]
13:22
[Music]
13:25
so i want to know um like i'm trying to
13:28
open up a business
13:32
um
13:38
first thing you should do brittany my
13:40
advice is get a better uh better phone
13:42
service
13:43
you know what you gonna do
13:46
please hang up and try again okay um
13:50
let me see uh let's go to bob in canada
13:53
bob graham rises
13:54
bob the builder hey bob
13:59
bob what's going on with the phone maybe
14:01
it's my lines hold up
14:04
desiree are you there desiree
14:07
i'm here there's okay
14:11
she's from cali i know
14:16
dez you got a question for ash cash
14:19
i do so i'm just starting to do
14:24
a little i'm getting my feet wet in
14:26
cryptocurrency
14:28
what is your i don't know i'm in
14:31
dogecoin i got in at about six cents
14:35
what is the future in this is there
14:37
really something or is it just
14:40
a joke i knew that was gonna be the
14:42
first question
14:44
yeah and so here's the thing about
14:45
crypto right so
14:47
if you got in that sixth sense you're
14:48
doing well right now and you know i know
14:51
uh there's you know what started off as
14:53
a joke is really
14:54
uh kind of kind of taking shape uh the
14:57
one thing i tell you about crypto is
14:58
that crypto is very volatile
15:00
right and so um it's it's really a
15:03
gamble like it's so like
15:05
what i said earlier as it relates to
15:07
investing
15:08
the only reason i could talk so
15:10
confidently about the markets and things
15:12
of that nature is because
15:13
of the history right it's been around
15:16
for many years and so we could look at
15:17
the history and we could almost
15:19
uh predict what's going to happen uh but
15:22
with with cryptocurrency it's really
15:24
hard to predict um what's gonna happen
15:27
uh because uh it's it's new it's
15:30
volatile
15:31
um you know you know you know you know
15:33
doji's going up
15:34
really really fast you know the fact
15:36
that you know elon musk is is co-signing
15:39
it it's going to allow it to go you know
15:40
continue to go up
15:41
fast you know i don't i mean no one
15:43
knows really the future
15:45
um you know is it ever going to bottom
15:47
out you know is you know is it going to
15:49
be
15:49
a a situation uh you know where people
15:52
are like all right you know
15:53
enough is enough to start getting out of
15:55
it what i will say though
15:56
um is that when you think about you know
15:58
like bitcoin for instance
16:00
uh you know you know me personally
16:02
bitcoin is something that i've invested
16:04
in
16:04
you know only because i you know i'm
16:06
watching and i'm and i'm reading the
16:08
the writings on the wall right when i
16:10
when i'm watching you know major
16:12
institutions uh really put their money
16:14
into
16:15
into bitcoin um and now you know you
16:17
know banks are
16:18
starting to you know the murmurings of
16:21
banks starting to talk about being able
16:22
to
16:23
uh exchange bitcoin within banking
16:25
institutions
16:26
is telling me uh that you know at the 57
16:29
000 that it is right now
16:30
that is going to go go further what i
16:33
would say is
16:34
if you're indulged right now just watch
16:36
it uh just kind of you know make sure
16:38
you're paying attention to
16:40
uh what's happening um who who's
16:42
investing in it right
16:43
are there large institutional investors
16:46
who are investing
16:47
who's pulling out of it just really just
16:49
kind of kind of watch it
16:50
um and just follow the signs because if
16:53
you follow the signs you'll
16:54
you'll know what direction it's going in
16:57
um and then you you
16:58
you know you'll be able to benefit but i
17:00
do know i mean it's very volatile like i
17:02
said
17:02
um but but really just pay attention to
17:04
uh to which direction it's going
17:06
hey dads good luck with it thank you for
17:08
your call okay we appreciate you you're
17:10
a citizen
17:11
good morning in the morning yep those
17:13
coin is up to like 60
17:15
what is it up to 66 cents
17:17
[Applause]
17:22
69 yesterday oh damn okay
17:26
hello uh hey you got a question
17:29
yep and it's real simple ash thank you
17:31
for joining us um
17:33
i actually have to go back to the start
17:34
of this conversation when you were
17:36
talking about savings um
17:38
i'm the primary caregiver for my
17:40
grandparents
17:41
and um it's kind of crazy because
17:44
it's hard to talk to them about things
17:46
like this you know um
17:48
their home is already paid for they have
17:50
minimal bills
17:51
if you will they're not traveling and
17:53
everything as much but when you talk
17:55
about
17:55
leaving their money or them leaving
17:57
their money in a savings account
17:59
what is the safest thing that i can tell
18:02
people like that you know the elderly
18:04
do do i say here take this five thousand
18:07
dollars or this ten thousand dollars
18:09
and put it in the cd what do you say to
18:11
people that are on the elderly side of
18:13
this
18:14
in terms of leaving their money just in
18:16
the bank because that's that's kind of
18:17
the school that they're from ash
18:20
yeah that's a great question i think
18:22
that um there are
18:24
a lot of you know safe ways right and so
18:28
um even and oddly enough though even
18:31
uh savings bonds uh are actually uh
18:34
starting to increase right so so those
18:36
are uh starting to become um you know a
18:40
a you know a hot commodity and so you
18:42
know potentially
18:44
um you know potentially um you know
18:47
savings bonds
18:48
it you know could be something that uh
18:50
that works right so so when we look at
18:52
the
18:52
the the rates uh you know last year the
18:54
rate for saving bonds was
18:56
was about 1.68 um and so now
19:00
uh a series i savings bond is earning
19:02
about 3.54
19:03
which is which which is beating
19:05
inflation a little bit right and so
19:07
um you know i would tell you know
19:09
potentially someone who's elderly who
19:11
um wants to kind of you know put their
19:14
money in something safe something they
19:15
know something they
19:16
that they're secure in uh savings bonds
19:19
are you know are potentially something
19:21
that you can do
19:22
um you know there are other you know
19:24
there's other things within the markets
19:26
right when you think about treasuries
19:27
and you think about money market
19:28
accounts
19:29
that um work similar to a cd
19:33
um or have security not fdic insured
19:37
like a cd a certificate deposit
19:39
would be in a bank but you know let's
19:42
say if you do
19:42
you know you know treasury or you know
19:44
anything that's secured
19:46
by the government it's the same as you
19:48
know it's not the same but it's similar
19:49
to fbic
19:50
and so i would just say uh to really
19:52
just explore some of
19:54
um you know the the other uh secure
19:57
yeah uh ways to put your money in uh
20:00
that they're used to or they're simple
20:02
you know they they're familiar with
20:04
yeah yeah okay no i thank you for that
20:08
though you you talk i apologize tracy
20:12
you but you brought up um
20:16
the fdic right and
20:19
and when it comes to cryptocurrency i'm
20:21
just curious like do you do you see the
20:23
federal government
20:25
beginning to implement regulations
20:29
yeah yeah i see i mean i you know i
20:31
think the federal
20:33
it's really difficult for them to do it
20:35
right
20:36
um and the first way they tried is
20:38
through taxes right and trying to
20:41
uh you know tax you on your gains and no
20:43
matter if you hold the coin or not and
20:45
so that's one way
20:46
but um the truth of the matter is that
20:48
uh the reason why
20:50
cryptocurrency is um something that
20:53
uh the government because you know the
20:55
government agencies haven't
20:57
jumped on immediately is because of the
21:00
inability to
21:01
uh you know trace it right the the
21:03
inability to
21:04
you know you you can stay anonymous like
21:06
people don't even really need to
21:08
uh uh know you know you know there's no
21:10
sort of like tracking mechanism
21:12
um you know when you think about the
21:14
banking world and how uh you have
21:16
the the the customer protection program
21:19
where you have to know your customer and
21:21
get ids and things of that nature
21:22
it's really hard to do that uh with
21:24
cryptocurrency um
21:26
but i don't think that they're going to
21:28
stop trying
21:29
uh to figure it out but but i don't you
21:31
know it's gonna be very difficult
21:33
uh for them to try to regulate something
21:35
that that no one really
21:36
owns um and that you know you don't
21:39
really need that middle person or
21:41
someone to uh you know to to control it
21:44
um and so i i really don't see that
21:46
okay ass cash is with us tracy g yeah
21:49
ash
21:50
to bring in a lifestyle element what's
21:53
your opinion
21:54
on people um entering marriage but
21:58
they're not equally yoked when it comes
22:00
to financial literacy
22:02
does that need to happen do you feel
22:04
like that's a requirement where
22:06
if one person has a strength they should
22:08
build up the other person's muscle and
22:10
then they get married
22:11
or do you think that you can have a
22:12
functional marriage with one person
22:16
you know being having the financial
22:18
prowess and the other person being at
22:20
like a freshman level
22:22
oh little tracy you you you gave me the
22:25
spicy question um
22:27
hello here's my thought
22:30
on that you know i think that um the
22:33
level of financial literacy
22:35
is um um you know um
22:38
is a great barometer but i think that uh
22:41
most importantly when two people get
22:44
together
22:45
uh it should be uh in in the effort to
22:48
move
22:48
on one accord right um and so as long as
22:52
the financial uh
22:54
life and you know the goals are aligned
22:58
uh then i think that if one person is
23:00
more financially astute than the other
23:02
that's fine
23:03
uh because you know the one thing that
23:05
makes a union a strong union
23:08
uh is is that we could carry each other
23:10
right where
23:11
where i'm strong i'll carry that on that
23:14
level and then when you're where you're
23:15
strong you'll carry it on that level and
23:17
then together
23:18
you know when you become a power couple
23:20
what winds up happening in unions is
23:22
that a lot of times
23:23
uh you know you have somebody who's not
23:25
whole right somebody who's
23:26
still trying to figure figure themselves
23:28
out they're at 50
23:30
they find somebody else who who also is
23:33
trying to figure themselves out and they
23:34
come together and try to be
23:36
uh you know 100 and now they're
23:38
dependent on each other right
23:40
what should happen is that you need to
23:42
be a whole you
23:43
right a whole person 100 or close to it
23:47
your partner should be a whole person or
23:49
close to it and when you come together
23:52
you are now interdependent not it's not
23:54
dependent
23:55
like i don't need you you don't need me
23:57
but at the end of the day when we come
23:58
together we
23:59
we're better together because of it um
24:01
and so that so i just think as long as
24:04
um you're connecting with someone who's
24:06
on the same wavelength
24:08
meaning that you are energetically
24:10
aligned you you know your goals are
24:12
aligned this is
24:13
this is where i want to go this is where
24:15
we're working towards it every single
24:16
day
24:17
um and then you know whoever's ahead
24:20
from a financial literacy
24:22
perspective could support the other
24:24
person um
24:25
but but but i do think that you know you
24:27
know having that conversation about
24:29
goals about where do people uh you know
24:32
where where
24:33
you know where we are and where do we
24:35
want to go i think that's important
24:36
because if there isn't an alignment
24:38
there that's a recipe for disaster
24:40
yeah i think that's so empowering what
24:42
you say ash with the fact that
24:45
someone can be a whole person
24:48
even if they're just now learning about
24:51
finances because for so many of us
24:53
i think that has been a factor for men
24:55
for quite a while
24:56
you'll see a lot of dudes who they'll
24:58
have the right woman in front
25:00
of them but they have an insecurity
25:01
because they don't know as much about
25:03
finances like they believe that they
25:05
should right so then they stall on
25:07
something for a long time
25:08
and then now as we see women climbing up
25:11
the ranks so much
25:12
i've noticed an insecurity where it's
25:14
like damn is a dude gonna want to be
25:16
with me
25:17
because i'm not on this boss babe
25:20
level although i have a high sense of um
25:24
awareness and i bring so many other
25:25
things to the table
25:27
it's really interesting how this this
25:29
finance
25:30
conversation can bring so much
25:32
self-doubt
25:33
and it feels like that has to be at an a
25:36
plus
25:37
game in order for someone to feel worthy
25:40
of love
25:42
yeah and and that's a great point and i
25:44
think that you know one of the important
25:46
things
25:47
is to understand that you know
25:49
relationships are about balance right
25:51
and because if you have
25:52
uh two bosses in the same relationship
25:55
you're going to buff heads right and so
25:57
there has to be a balance and uh you
26:00
know going in and this is why i said
26:01
it's important
26:02
that you have to be your whole self
26:04
first and foremost and then
26:05
connect with somebody who's their whole
26:07
self right because that insecurity
26:10
sometimes that insecurity comes from
26:12
just really just not just knowing who
26:14
you are um and understanding
26:16
you know who you are what you bring to
26:18
the table because if you
26:19
if you are if you know who you are then
26:22
you're not intimidated by
26:23
who someone else is right yes if you
26:25
know
26:26
that you're on the grind and you're
26:27
doing your thing and your financial
26:29
situation is going to change
26:30
and you connect with a with a with a
26:32
boss a
26:34
whoever you know you're going to get to
26:36
a space where you're like alright great
26:37
this union's going to be dope because i
26:39
know who i am and i'm going to add
26:40
value to this relationship so so
26:42
knowledge itself is really really
26:44
important
26:45
i'm going to try to take um maybe a
26:47
couple more but we got to do
26:48
rule of bridge dancers um ash cash
26:57
i know you've been running you know
26:58
running the park now got your lungs up
27:01
your lung capacity is expanded
27:03
uh i'm getting attacked shout out to my
27:06
friend jen she's a dentist and it's like
27:07
yo this guy is dropping gems
27:09
so you're getting a lot of good response
27:11
right now jim and queens you want to add
27:13
to the conversation it's jim y'all
27:15
hey jim speaking of gems how's it going
27:18
what up jim
27:19
i've been uh i'm listening to you guys
27:21
talk a little bit about doge
27:22
and uh a couple other things i'm a bit
27:24
of a crypto guy
27:25
um uh to say bitcoin's anonymous is
27:29
is a little bit incorrect it's a
27:32
distributed ledger
27:33
so bitcoin as a whole is every
27:35
transaction
27:37
uh so you can actually track and trace
27:39
every transaction that happens
27:41
on the blockchain and currently the fbi
27:43
is
27:44
using the bitcoin ledger to track uh you
27:48
know
27:48
bad activity and this week the uh
27:52
they probed kraken the crypto exchange
27:55
to uh give over customer information
27:57
because they've uh
27:59
found some suspicious activity that they
28:01
need to look into
28:02
like what give me that and give me an
28:04
example of suspicious activity
28:07
well it could be you know uh like the
28:10
bad things you hear
28:11
whatever it is guns drugs you know back
28:13
in the day you can buy
28:14
you know gallons of mali on silk road
28:16
with bitcoin
28:17
yeah so they're tracking down things
28:20
like that now
28:21
so things that happened you know 10
28:23
years ago with bitcoin
28:25
they're they're scouring the ledger and
28:28
finding things and
28:29
and they're they're enforcing you know
28:30
things um
28:32
and then another point about doge is uh
28:35
you know back in 2017 the big thing was
28:38
copying uh because it's you know these
28:41
are open source computer codes that's
28:43
what blockchain
28:44
is so you can copy uh you know bitcoin
28:47
and call it
28:48
you know whatever you want uh dogecoin
28:50
is a copy of
28:52
litecoin which is also a copy of bitcoin
28:56
and there's no fixed supply so
29:00
every hour ten thousand more dogecoin is
29:02
put out
29:03
into the market so you it's super
29:06
inflationary uh
29:07
to start uh that
29:11
also you know i know i know a lot of
29:13
people have been comparing it to the us
29:14
dollar because
29:16
the way you know the us dollar could be
29:18
could be printed and that's why it's
29:20
definitely
29:20
uh volatile and and you want to you want
29:23
to be careful if you jumping into it
29:27
that's the protest is that you know the
29:30
the government's printing two trillion
29:31
dollars every couple months
29:33
you know and dogecoin gets you know you
29:35
know it has a huge inflationary
29:38
percentage you know compared to the
29:39
dollars you know same thing but the
29:41
problem is that
29:42
28 of the total doge supply of billions
29:46
of coins
29:46
worth over 20 billion dollars u.s is
29:49
owned by one wallet and you can track
29:51
that because it's distributed ledger
29:53
so you can see every wallet 12 other
29:56
wallets own
29:57
67 percent of the supply of doge so 95
30:01
of the doge is owned by 13 people so
30:04
it's the it's the people's currency but
30:07
it's owned by 13 people
30:08
and when they decide to dump it's gonna
30:11
it's gonna go
30:11
you know the party's gonna be over so
30:13
you're just playing you know with
30:16
hoping that you're you're gonna get out
30:18
before those 13 people decide to get out
30:20
jim
30:28
the main well was in april so it's about
30:30
100 million dollars and that coincides
30:32
with that dip that
30:34
doge had back then
30:37
100 100 million back in april
30:40
and dumped the price what if he wants to
30:42
sell two billion dollars
30:44
then what happens so that's the and
30:46
that's the uh that's why we say volatile
30:48
jim thank you for dropping gems i've
30:50
been trying to say jim dropped the gym
30:51
for about four minutes now
30:55
but it's just so much to learn right jim
30:57
thank you you're a citizen jim
30:58
wait about it um
31:02
i'm gonna give you a simple question jay
31:04
from indianapolis you got a question for
31:06
ash cash
31:08
yeah no doubt hey first i got to say it
31:10
to everybody uh first thank you oq for
31:12
taking the call thank you tracy g
31:14
thank you suede thank you heather b and
31:16
as you have been dropping gems
31:18
long time listener definitely want to
31:20
get my citizenship out of this too but
31:21
a lot of my questions have been asked uh
31:24
i basically
31:25
i'm a gambler so i look at it like i've
31:27
got three thousand dollars i want to go
31:29
ahead and get
31:29
instead of going to the poker type of
31:30
sway you know about the poker table come
31:32
on man instead of going there
31:34
i'm going to go i want to like invest it
31:36
so
31:37
um i got a friend who actually was at
31:39
the poker table last night telling me
31:40
last year that he invested 2700
31:43
in at home and it now i think he made 67
31:47
000 off of it in one year i know all
31:50
cases aren't like that
31:51
i'm just wondering how can i get in play
31:53
in it like what apps are out there
31:55
um you've talked a lot about
31:57
cryptocurrency
31:59
uh obviously let's call it dodge coin
32:00
don't which coin i don't even really
32:02
know about it but i have friends that
32:03
were playing with it
32:04
uh bitcoin years ago so um just
32:07
wondering like what
32:08
what what ways uh is it penny stock they
32:10
tell me maybe you start playing them
32:12
penny stocks you know what apps are out
32:13
there
32:14
and you know i guess i'll just listen to
32:17
the rest of the knowledge that you're
32:18
dropping but thank you very much
32:19
aj hold up james hold up ass jay
32:23
you're officially a citizen a sway in
32:25
the morning
32:35
you know first uh if you're willing to
32:37
gamble that's cool right
32:39
because again you know just make sure
32:40
they it ain't the money that you have to
32:42
pay the bills with so i would look at
32:44
you know coinbase obviously is is what a
32:46
lot of people not obviously but a lot of
32:48
people are using coinbase
32:49
um you know to like purchase you know
32:51
the the cryptocurrency
32:53
uh when you you know when you think
32:54
about um you know trading apps there's
32:57
just so many
32:58
uh different trading apps at one point
33:00
you know i would i would say
33:02
uh robin hood but you know they've been
33:04
having problems especially when you
33:05
think about
33:06
like uh gamestop uh so you know you have
33:08
you have your td ameritrades where you
33:10
could
33:10
you know buy you know buy some stock you
33:12
have uh you know i've seen like weeble
33:15
uh w-e-b-u-l-l uh is
33:18
is a is a trading uh you know app that
33:21
you could use for for trading
33:23
um you know but fidelity has uh
33:25
something e-trade
33:27
um you have you know merrill lynch
33:30
there's different there's different
33:31
um um you know different trading apps
33:34
out there the good news
33:35
um since it's good news too the good
33:37
news is that a lot of these trading apps
33:39
uh do not offer
33:41
um you know a lot of them give you free
33:43
trades or
33:44
low or low cost trades and so if you
33:46
just you know really like investigate
33:48
the different ones that you're
33:49
uh that you're you know interested in um
33:52
you can see which you know which
33:53
platforms are
33:54
are better for you but there's those
33:56
were a few a few options
33:58
hey jay good luck with it man i believe
34:00
in you bro i want to hear from you in
34:01
the body yeah
34:02
see how much you made family okay then
34:04
we go to the poker table
34:06
you in indianapolis they got that they
34:08
got they got a mgm somewhere out there
34:10
right
34:11
nah nah i'm coming i'm coming i'm coming
34:13
to where you are man on the harley that
34:14
i'm about to do
34:16
oh okay well our players have lucky
34:18
chances in northern california
34:21
hey hey hey jay you know you don't want
34:23
to just walk in that place unless you're
34:25
ready
34:26
get bill you'll leave y'all you'll be
34:28
leaving without that harley
34:29
huh i'll swing with the sharks man i
34:32
come on my so i and swim with the sharks
34:33
i ain't scared
34:34
ooh my man jay i like that that's why
34:36
you're a citizen brother
34:41
hey man um ash cash i want to thank you
34:44
for being on today
34:45
uh round of applause for this man for
34:47
dropping off
34:50
let's go back to doing it more often
34:51
let's do it monthly okay you with that
34:54
let's do it let's do it thank y'all so
34:56
much for everything
34:58
hey let me say this let me say this too
35:00
because um
35:02
i've had the opportunity to lose in
35:05
finances a lot
35:06
and and win some and along the way learn
35:09
about it my partner king tech and i
35:11
uh we have a friend named chris too who
35:13
studies the markets
35:14
and all of those different things over
35:16
the years you know and it's always
35:19
i found when i started collaborating
35:20
with people who i trusted
35:23
and um had knowledge on finances in
35:26
other areas and we had conversations
35:28
together and
35:29
talked and meshed things out it usually
35:32
garnered us a better result
35:34
you know of the investments that we made
35:36
i saw you talking with your accountant
35:40
i believe on your platform or an
35:43
accountant um and i thought that was
35:45
really good to see because sometimes
35:47
financial folks
35:48
don't feel like they need an accountant
35:51
but you have an accountant right
35:53
well absolutely who who who deserves the
35:55
medal of freedom is my accountant yeah i
35:57
think that
35:58
um a good accountant is gonna is gonna
36:01
make you money and so
36:02
you know fast out to money making mitch
36:04
michelle val brunt
36:06
um he you know it has a lot of good uh
36:09
tax strategies and the thing about an
36:11
accountant is that uh
36:12
taxes the tax laws change every
36:16
year right so you think it's a new
36:17
administration so think right when when
36:20
donald trump was in office he had a
36:21
certain set of
36:22
of tax laws but guess what now that we
36:25
have
36:26
you know joe biden there's a new set of
36:28
tax laws and so an accountant is going
36:30
to understand that
36:31
and they're going to you know they're
36:32
going to learn how to those loopholes
36:34
how to hula hoop through those uh those
36:36
loopholes
36:37
uh so you definitely should have a a
36:39
great a great money team
36:41
uh that's going to help you you know
36:42
increase your wealth for sure there it
36:44
is man ash cash
36:45
follow him citizens you could keep
36:47
asking him questions
36:49
he got so many answers for you i am ash
36:52
cash a-s-h-c-a-s-h thank you brother for
36:57
uh joining us this morning i appreciate
36:59
you bro
37:00
appreciate you love family love every
37:03
time man we'll talk to hey ashcast
37:04
remember we talked about starting our
37:06
own investment
37:07
group i put i put aside that money man
37:09
i'm still ready we could talk about that
37:11
later
37:12
i'm on it for sure for sure i'm i'm
37:14
hitting you offline let's do it
37:16
okay let's do it man okay there you go
37:18
ass cash citizens get a big round of
37:20
applause
37:24
[Music]
37:36
you
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