Order of Man - How to Become a Millionaire ｜ CHRIS HOGAN

00:00:00.000 Finance isn't something a whole lot of people really enjoy talking about, but if you want to

00:00:04.220 achieve success in your life and truly become the man you're capable of becoming, learning how to

00:00:09.260 manage that little green piece of paper we call money is crucial. Today, I'm joined by personal

00:00:14.380 finance expert Chris Hogan to talk about the principles he lays out in his new book, Everyday

00:00:18.660 Millionaires. We cover some of the common myths about millionaires, ordinary tools that you can

00:00:24.100 use to build wealth in your life, five key attributes wealthy people share, and how you too can become

00:00:30.540 an everyday millionaire. You're a man of action. You live life to the fullest. Embrace your fears

00:00:35.660 and boldly chart your own path. When life knocks you down, you get back up one more time, every time.

00:00:42.160 You are not easily deterred or defeated, rugged, resilient, strong. This is your life. This is who

00:00:48.940 you are. This is who you will become. At the end of the day, and after all is said and done,

00:00:54.520 you can call yourself a man. Gentlemen, what is going on today? My name is Ryan Michler,

00:00:59.460 and I am the host and the founder of this podcast. Glad you're joining us. Whether it's for the first

00:01:03.080 time or you've been with us for, man, almost four years now, we couldn't do this without you. So

00:01:07.560 having men who band with us and believe in the mission of reclaiming and restoring masculinity

00:01:11.580 is crucial. And that's why we've been able to expand the entire planet and have millions and

00:01:17.540 millions of men tuning in each and every month, listening to this podcast, sharing the good word,

00:01:23.340 sharing what it means to be a man, and of course, helping our future generations of young men and

00:01:28.180 boys develop into the men that they're capable of becoming. And we do that through the podcast and

00:01:32.780 the blog and the website and social media channels and all the places where we are, including, guys,

00:01:37.840 by the way, our YouTube channel. A lot more active over on YouTube. We really haven't been in the past,

00:01:43.920 but I've made a commitment to put more video out there. So you guys will be seeing a lot more live

00:01:49.620 conversations from these podcasts. And of course, our ask me anything where we're fielding questions

00:01:54.420 from you. Those are all on YouTube and other videos. So check it out. YouTube.com slash order of

00:02:01.240 man. All right, guys, I've got a great one lined up for you today. I'm really excited to get into this

00:02:06.140 one because I know that finances are a big issue. I know money is a big concern of most people,

00:02:11.180 including me. And I really believe also that if we are to achieve the level of success that we

00:02:16.640 have a desire to achieve as men, we want to lead our families and our communities effectively,

00:02:21.100 then the money game is a big part of that. And it's something that's overlooked and something

00:02:25.260 that frankly is confusing at times. So we're going to address that today with a man who is very,

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00:04:20.080 originmaine and Soranex after the show. But for now, let me get into this conversation.

00:04:24.740 I can't even begin to describe how excited I am. Chris Hogan and his team reached out to me

00:04:29.080 about three weeks ago and sent me a pre-release copy of his new book, Everyday Millionaires.

00:04:34.520 And I've read this book. I really, really enjoy the premise of it. And there's a lot of practical

00:04:39.640 advice in here that's really going to help you. And I know a lot of you guys are familiar with,

00:04:43.600 with Chris Hogan already, especially because so many of you probably follow Dave Ramsey.

00:04:47.920 He works close with Dave and he's a regular contributor of that podcast, Entree Leadership,

00:04:52.740 but he also hosts his own podcast, The Chris Hogan Show. And he talks about the very financial

00:04:58.000 principles and success strategies that he's going to share with us today. This guy's a bestselling

00:05:02.340 author. He's a personal finance expert. He's a former All-American football player, and he uses

00:05:06.400 all of the knowledge he has and the experience and everything else to help families across the

00:05:10.780 nation set themselves up right for retirement. And today he's here to talk with us about how to do the

00:05:15.720 same. Chris, thanks for joining me on the show today.

00:05:19.640 Oh, thank you. It's good to be with you.

00:05:21.460 Yeah. I've been looking forward to this conversation. I've been following you for

00:05:23.840 quite a while now. And I had my feet in the financial industry as well for about a decade

00:05:29.380 before I really got into this line of work. So I'm excited to have this conversation because I think

00:05:33.780 there's a lot of, there's a lot of myths. There's a lot of misinformation out there regarding

00:05:37.680 what it takes to be a millionaire. And I'm excited to dispel some of those myths today.

00:05:41.880 Well, thank you. I'm looking forward to it. And so if you've been in the financial sector like me,

00:05:47.300 you know, there are a lot of different thoughts and a lot of different opinions out there

00:05:51.460 and people can get confused.

00:05:54.180 Yeah, it's true. I wonder why there's so many opinions because I mean, it's easy to say that

00:05:58.880 financials is just math, but I guess there's a lot of emotion that goes behind it as well,

00:06:03.100 which is what causes us to have some of these differing opinions as to what it takes to build wealth,

00:06:07.220 right?

00:06:07.420 Well, I think so. I think you're right. And because it's an area that people don't understand

00:06:12.940 really well. And what you don't understand, you tend to resist or avoid. And so I think with that,

00:06:20.220 there are these different schools of thought out there that are looking to get people that are at

00:06:24.920 different levels. And so, you know, the main thing for me and what we do here at Ramsey Solution

00:06:29.400 is that we want to lay it out and we want to show people not only the information,

00:06:33.800 but show them the way and the process to be able to walk so they can get results.

00:06:39.440 Do you find that a lot of people resist gaining this kind of information? It seems to me a lot

00:06:44.560 of people at best case scenario outsource their finances.

00:06:49.060 They really do. Initially, when I was in the banking world and even when I started here,

00:06:53.180 I was working with a lot of pro athletes, entertainers, and musicians. These were people

00:06:57.640 that were highly skilled at what they did, but they didn't have the knowledge about money.

00:07:02.580 They knew they needed it. They knew they needed to do the right things with it,

00:07:06.100 but it wasn't something that they wanted to learn. And so with me, I told them, I said,

00:07:10.400 you know what? Listen, I have some knowledge of vehicles, but anything outside of changing the oil

00:07:15.920 in my car, anything that needs to be done, I go see a professional. And I said, so there's nothing

00:07:20.580 wrong with getting guidance, but what you don't want to do is ever turn over the responsibility or the

00:07:25.440 obligation to anyone else. That's something that has to stay with you.

00:07:29.140 Yeah. I like that distinction. And that's really what it is. Somebody can help you out. I mean,

00:07:33.400 I was a financial advisor, like I said, for about 10 years, I had some clients who didn't even want

00:07:38.800 to know what was going on with their money at all. And I had others who wanted to be involved and

00:07:43.840 wanted to know what was happening, but understood that I was the professional and deferred to me when

00:07:48.760 it came to some of the strategies that we're implementing. And I think that was a huge distinguishing

00:07:53.400 factor between those who are successful with their money and those who aren't is the ones who have

00:07:57.520 some level of responsibility. And we see this all the time when we hear people blaming their

00:08:03.320 financial advisors for all of their financial woes. It's like, whoa, whoa, whoa, where's your

00:08:06.860 responsibility in this whole thing as well?

00:08:09.440 No, you're right. And I think it boils down to in the financial world as a professional,

00:08:13.900 I think it's very important that we talk with people, not at them and really try to learn them,

00:08:20.580 learn more about what they're doing, where they are, what are their hopes, what are their dreams,

00:08:24.580 what are their fears, and to begin to show them the options. And for me, that's one of the things I

00:08:29.860 want to do. I want people to understand their options so they can make a choice. I come from

00:08:34.720 an athletic background. And so being a coach to someone, I get that because I was coached by so

00:08:41.260 many people in grade school, in middle school, in high school, even in college. And so the vein of

00:08:46.520 that is as a coach, I want someone to get better. And so that's what I'm trying to help people do on

00:08:52.040 the money side. Now, with this new book, Everyday Millionaires, what I'm trying to do is to coach

00:08:56.940 people on the reality. There are a lot of myths out there. There are a lot of things, you know,

00:09:01.180 some of the news reports or the media reports can be negative, where it's telling people the

00:09:05.240 American dream is dead, like it's not possible anymore. And that's a myth. That is not true.

00:09:11.420 And so I want people to not only know the truth, but I want them to see it and hear it from people

00:09:15.620 that have done it. How do you define the American dream? Because I think that's such a broad term,

00:09:20.960 and it can be interpreted in so many different ways. I think it's important we understand what

00:09:24.940 it is we're talking about here. Yeah. When I first heard that, having,

00:09:28.320 you know, worked in the real estate sector for many years, you know, we naturally equate the

00:09:32.060 American dream with owning a home. Sure. But for me, as I look at it, and I really start to think

00:09:37.260 about it, it's having freedom, and it's having options. The freedom to do what it is your heart wants

00:09:42.860 to do, and the options and opportunity to be able to do it. And I mean, not just for yourself,

00:09:48.180 because I think as humans, we inherently want to help others. We want to be of service. And if we're

00:09:54.020 not tied to debt, and we have some financial independence where we can do some things,

00:09:58.500 and we have breathing room, I think it empowers us to make more of an impact in areas where we can.

00:10:05.540 Yeah, I think that's true. I also think it's true that we are rewarded generally for being

00:10:10.760 charitable and looking outwards and serving other people. So I think we have a desire to do this.

00:10:16.280 But I feel like, to your point, that so many people are trapped, and they're enslaved behind

00:10:20.680 debt, and all of these other factors when it comes to managing their money. I also think there's a

00:10:26.780 problem in that people think that somehow having a lot of money is inherently bad, or there's

00:10:31.740 something inherently evil or wrong about an individual who's wealthy.

00:10:35.700 No, I think so, too. You know, I can remember in doing this. Now, remember, with this book,

00:10:39.780 we did the largest research study that's ever been done. We researched and talked to over 10,000

00:10:45.020 millionaires from all across the country. And in talking to people and doing interviews,

00:10:49.580 you know, a lot of people said, you know, when you think of wealthy, you think of a man or a woman

00:10:53.580 in some slick suit, you know, in front of a fancy car in front of some massive home.

00:10:58.320 We naturally tend to think that they did something illegal to have that, or they took advantage of

00:11:03.700 somebody to get there. And the reality is, is in the human condition, we naturally want to

00:11:10.200 associate that there had to be something wrong with how this person became successful,

00:11:15.340 as opposed to having just an appreciation and a respect for someone's hard work. Now,

00:11:21.280 I'm not saying out there that there aren't greedy people or mean people or people that do things the

00:11:25.460 wrong way. It's not what I'm saying. I'm saying the average everyday millionaire is a hardworking

00:11:30.580 man or woman that has worked a long time on their job, that has invested consistently over time,

00:11:36.560 because they had their eye on a goal. And all of them, in looking at it, they were trying to strive

00:11:42.000 for that because they also had this internal drive to want to do things for others. It is important

00:11:47.320 because broke people can't help people financially. Sure. If all of your money is going to the credit

00:11:52.860 cards and car loans and all this other stuff, you don't have the margin to help a friend that's in

00:11:58.520 need or a family member or a community member. And so that mindset needs to be that we've got to

00:12:03.880 free up ourselves to help people. You know, Ryan, I travel a lot. Do you travel a lot?

00:12:08.560 I would say a moderate amount, not a lot, but a moderate amount.

00:12:11.140 Okay. I travel a lot. And so on airplanes, this struck me one time about four years ago,

00:12:16.240 I was sitting on the airplane and you know how they go through their safety process

00:12:19.320 with the flight attendants. And they were saying, Hey, in case of, of a loss of cabin pressure,

00:12:24.360 oxygen masks will fall. But they said, be sure to secure your own mask before your attempt to help

00:12:29.600 someone else. Sure. And I remember hearing that and I thought, well, what's the logic behind that?

00:12:34.000 Well, if I don't secure my own mask, I'm going to be unavailable to help someone else. And I think

00:12:39.840 the same can be said on the financial side, that once we set our course, once we get ourselves in

00:12:46.060 position and stay focused, what it does is, is it frees us up to be able to help others.

00:12:51.900 I agree. I just think there's this thing in society that a lot of people believe, and I certainly don't,

00:12:56.880 that those who are wealthy hoard their money. And I've found the exact opposite to be true.

00:13:01.280 They're investing in businesses. They're investing in their communities. They're investing in

00:13:04.700 commerce by building homes and buying vehicles and going on vacations. And all of these are a way to

00:13:10.340 distribute wealth back to those who would earn it, not just hoard it in some safe or under their

00:13:15.220 mattress somewhere. No, I agree. I mean, there's a difference between hoarding versus investing,

00:13:20.080 but there's also the giving component. There's also, you know, the making impact. A lot of the

00:13:25.460 millionaires that I talked to were doing some anonymous giving as well as some outward giving.

00:13:30.160 And so, again, I think it's easier to tear down or to shoot a hole in something you don't understand

00:13:36.120 as opposed to really learning and engaging it. And it's also easier, I think, Ryan,

00:13:41.820 to have a victim mentality. The victim mentality means that, you know, it's the woe is me. You know,

00:13:48.540 I can't achieve it based on where I was born or the family I had or where I went to school,

00:13:54.700 all of these things. And what I want people to do in reading this book is to hear the stories of

00:13:59.480 people that came from all walks of life. You know, there are stories in there about people that were

00:14:04.200 homeless at one point in time that turned it around. People that grew up in terrible home situations

00:14:10.340 growing up, but they still were able to stay focused. They still were able to be hardworking

00:14:15.100 and to be consistent over time. And so, I just want people to understand the reality

00:14:19.840 so they can make a decision for themselves. At the midpoint in the book, I talk about the

00:14:25.020 permission slip. You know, I grew up in a small town in Kentucky. And so, in school, when we would

00:14:29.560 take field trips, you had to take this permission slip home. And if your parents didn't sign off on it

00:14:34.380 or your guardians didn't sign off on it, admit you couldn't go. Well, I think that's where a lot of

00:14:38.680 people are right now in dealing with money or looking at their dreams and their hopes that they're

00:14:43.960 waiting on somebody to give them permission. They're waiting on somebody to believe in them,

00:14:48.440 to tell them that they can do this. And that's exactly what I aim to do in this book,

00:14:52.820 that it's available to you. The American dream is alive. It's available. And you can have it if

00:14:58.020 you're willing to do the work. Do you think that people play that victim card and fall into that

00:15:03.180 category as an excuse for their lack of wealth in this case? Well, I think so. I really do. I haven't

00:15:11.180 talked to some people that have outwardly told me, but even in doing this book, in writing it,

00:15:15.760 you know, the research project, having talked to over 10,000 with, you know, our research team at an

00:15:20.680 outside firm, because we wanted to find out people that didn't know of me or Dave, we wanted to know

00:15:25.360 the reality. And so, we really reached out. But I was thinking about myself growing up. I was coming

00:15:31.140 back from a baseball practice. Our coach was dropping us off and took a friend of mine home who lived in

00:15:36.300 an affluent area of town. And of course, me and my other friend did not. But I remember our coach

00:15:41.720 dropping off my friend. And as my buddy got out, he said hi, and we all high-fived or whatever. And

00:15:46.600 he was going into his home. And as we were pulling out, our coach turned around and looked, and he

00:15:51.160 stopped for a minute. And he looked at my friend and I, and he goes, hey, guys, I want you to know that

00:15:56.200 someday you can have a home like this. You guys can have this. He goes, if you just work hard and stay

00:16:02.220 focused. And of course, then he continued to drive. And my friend, I think it just went past him

00:16:07.680 because he started talking about something else in school. But I can remember in that moment,

00:16:12.440 really wondering, was that true? You know, was it for this small town, you know, boy from Kentucky,

00:16:19.400 was that something that was really available to me? And I can remember it being something that I

00:16:24.000 thought about for years after that. But he said hard work and focus. And that was really something that

00:16:30.080 I began to do in school. That's something I began to do in my athletics. And again, that was from the

00:16:34.680 messages, not only from my family and my coaches and teachers that also echoed that. But I'm so

00:16:40.080 grateful that he planted that seed of opportunity instead of a seed of doubt that maybe I would have

00:16:46.800 grown up with in my head based on my surroundings. And so it just really was a game changer for me. And

00:16:52.300 I'm excited to share that with the readers of this book.

00:16:54.800 What do you think is the difference between you and your friend or any human being out there who

00:17:02.240 decides to take their circumstances and makes the most of it versus somebody who takes their

00:17:07.120 circumstances and says, this is my lot in life?

00:17:10.400 Wow, that's a great question. I think the difference between my friend and I, as we were both teenagers

00:17:15.920 riding in that car that day, is that I was listening, right? Like he got my attention. I was receptive to

00:17:24.040 the message. I was probably, you know, really looking for those seeds of hope. And I think my

00:17:29.820 friend was not in tune. He was preoccupied. He was busy, like thinking about something else. So I think

00:17:35.920 it's the difference between listening and hearing. You know, listening is where you were paying attention

00:17:41.120 and you heard some words spoke. Hearing means you heard the message and you internalized it. And then

00:17:46.640 you made a decision based off that. And I think it's real easy for us. And again, all of us have been

00:17:52.160 here where you're at some point in life where you've had some obstacles or some challenges because

00:17:57.280 that's something we all wrestle with. That's a natural part of the human condition. I think it's

00:18:01.740 a matter of what we decide to do about it. I think staying there and allowing yourself to wallow in it.

00:18:07.720 I'm from Kentucky, so that's a word my family used to use. Wallowing in it means that you roll around

00:18:12.840 or continue to loop on it. I think what we end up doing is limiting ourselves because now it's easy to get

00:18:18.920 into the victim thinking based on the things that are going on at the moment. But I think if we glance

00:18:24.760 back at that type of scenario, but focus forward on what am I going to do to help myself? I talk about

00:18:31.020 as I do some leadership trainings around the country, I tell people as leaders, I said, listen, you've got to

00:18:36.080 understand you're either part of the problem or part of the solution. You've got to make a decision. And so being

00:18:41.720 part of the solution means you are moving forward and we're not repeating the same mistakes. You know, we're

00:18:47.100 thinking differently. We're looking to grow our knowledge and we're also careful of what we're

00:18:51.600 telling ourselves. Ryan, I firmly believe that if we're not careful, we can tell ourselves some

00:18:57.440 negative things that can really defeat us before we ever get to the start line. We can hold ourselves

00:19:03.300 back from being the best that we can be. But once you make that decision and you start to focus on the

00:19:08.880 things that you can control and take those one step forward, talk about that in the Chris Hogan show,

00:19:14.540 that one step forward is called progress. And that's what I want people to make each day.

00:19:19.100 I really like this distinction of listening. You know, it reminds me of books that I've read or

00:19:23.740 podcasts I've heard, just information I've consumed in general. And I've heard it once

00:19:27.380 and maybe I didn't really take anything away from it. And then I came back six months or a year or five

00:19:32.240 years later and listened to it again. And it struck me in a whole new way because, you know, I listened,

00:19:36.760 maybe I was more receptive to that information. Maybe I was a little more dissatisfied with where I was in

00:19:41.460 life. And so I was really searching for information as opposed to just being passive in my consumption

00:19:47.740 of it. And I think a lot of guys fall into this camp that are listening to this podcast because

00:19:51.440 they wouldn't be here if they weren't. But I also think there's a lot of mediocrity and just

00:19:56.160 complacency in general in life as well.

00:19:58.720 No, I think you're right. I mean, because we all have heard a lot of messages, but it is interesting

00:20:04.280 how hearing something based on where we are or whatever it is we're walking through,

00:20:09.140 you hear it and see it and feel it differently. I tell people all the time, there's a difference

00:20:14.960 between knowledge and wisdom. Knowledge is where you have some book smarts or you know some

00:20:19.880 information. Wisdom to me is on another level. Wisdom means you know how to apply it, right? You know

00:20:26.420 how to apply the knowledge. And I think as we're hearing things and we're around people that are in

00:20:32.000 tune, that are being real, that are striving towards something that's bigger than ourselves, I think

00:20:37.680 that's the opportunity that we have to grow. Regardless of what you've walked through,

00:20:42.100 regardless of the obstacles, the mind is a powerful thing. And we get an opportunity to decide

00:20:47.500 each and every day, am I going to go the victim route or am I going to go and be a victor? And I

00:20:53.160 want more people choosing that victor path. It's a longer path and it's a harder path, but it's a path

00:20:59.060 worth traveling.

00:21:00.300 What makes it worth traveling? I mean, I know that might sound like a rhetorical question, but I think

00:21:04.540 there's people out there that probably think to some degree, like, why should I even try?

00:21:09.340 I think traveling the path of the victor means that you see some things that are bigger than

00:21:13.900 yourself. You're striving for some things for the people that you care about, but you also are aware

00:21:19.580 of the example that you can set. Younger people are watching you. And I can remember being a part of

00:21:25.320 the DARE program back when I was in sixth grade. And so I would go and that was the drug awareness

00:21:30.480 resistance education. And I can remember going in sixth grade and going to talk to the second and

00:21:35.780 third grade kids. And it was amazing because they looked at me like I was some giant, right? Because

00:21:40.920 I was, you know, four or five times their size, but they were willing to listen. I can remember the

00:21:46.140 sheriff that put that program together for us in our school. And he was talking about that you've got

00:21:50.640 an opportunity to help some kids think differently and look at some things differently based on your

00:21:55.500 interaction. And he said, so just go in and be real with them and tell them, you know, the things that

00:22:00.540 they need to be aware of and the things that they need to do and things to avoid. And I can remember

00:22:04.760 that being this, I had a whole new view of me going in and talking to this class of 15 or 20 kids,

00:22:11.120 that it was an opportunity to point them in a direction because you don't know what's going on

00:22:16.360 in someone's home life. You don't know if they come from a single parent or a no parent home.

00:22:20.960 And regardless of that, that they are an individual, they have an opportunity to do

00:22:25.980 something. And that's what I see as I go travel and I speak that every person that I look at out

00:22:31.100 there represents a family. They're people that have hopes and they have dreams and they want some

00:22:36.120 encouragement. I think what you did in your youth and even what you're doing now and what I'm striving

00:22:41.080 to do here is really speaks to this, this first myth that you identified, which is that people didn't

00:22:46.000 earn or deserve their wealth. But what you're saying here is that it's really just a byproduct of

00:22:50.900 the value that you're adding. It's those who are going out for the most part. Of course,

00:22:54.120 there's some who inherited and they're the trust fund babies, of course. But I think that represents

00:22:58.480 a small minority of the people who have managed to build any amount of wealth in their lives.

00:23:02.880 And it's those who have added constant value in a meaningful and significant way that have been

00:23:07.800 able to build the levels of wealth that you're talking about in this book.

00:23:11.360 No, they really have. And speaking of inheritance, because that is one of the things that a myth that

00:23:16.620 people believe that wealthy people inherited all their money, but of the 10,000 millionaires that

00:23:21.620 we talked to, only 21% of the millionaires received an inheritance at all. Only 21%. Only 16% inherited

00:23:30.300 more than a hundred thousand dollars. And so in looking at this, there was 3% of people that

00:23:35.680 inherited a million or more. So looking at that, the reality of the 10,000 that we talked to,

00:23:41.460 97% of the millionaires that we talked to didn't inherit an amount of money that caused them to be

00:23:48.040 millionaires. So that meant that they did it themselves. And so if people out there think

00:23:53.520 that the only way they can become a millionaire or build wealth is through an inheritance,

00:23:57.640 and maybe their family doesn't have money, maybe their family hasn't been good with money,

00:24:02.580 then in their mind, if inheritance is the only path, then they think they can never get there.

00:24:08.320 Right. Which then means if you think you can't get there, then it's like you said a little bit

00:24:12.780 earlier, then why try? Right. It's a loss of hope. Sure. That's exactly what it is. The loss of hope.

00:24:19.020 And I'm going to tell you, having a loss of hope is dangerous. It's easier to be negative. It's easier

00:24:25.160 to be down in the pit and to get stuck. But again, it goes back to that choice. I'm going to choose.

00:24:30.780 Yes, my situation doesn't get to define me. I'm going to choose to stay focused and I'm going to

00:24:35.200 choose to move forward. And I think that's how people end up pulling themselves up or having

00:24:40.100 good people around them that care about them, their friends or family members that care enough

00:24:44.740 about them to help them move forward. You know, it's what's interesting because I read these

00:24:49.080 statistics as well as I was going through the book and I'm always looking for what the story says and

00:24:54.240 maybe even just a different perspective just because I'm a curious person. And it's funny when you talk

00:24:59.080 about these people who haven't inherited some level of wealth or some money, I don't even think

00:25:04.980 that entirely paints the entire picture because I imagine there's millions and millions of people

00:25:09.760 out there who have inherited money and yet have squandered all of it. So even though these people

00:25:15.200 still have money, there's some skill development, there's some value or there's some investment

00:25:20.440 strategy that they've utilized to manage to hang on to the wealth that they have. And in a lot of

00:25:24.800 cases, increase it even if they did get that leg up. No, you're right. I mean, look at it with the

00:25:30.520 lottery winners, the people that win the lottery. I think it's some staggering statistic, you know,

00:25:35.400 like over 90% of them end up losing or squandering that money within a five-year period. You know,

00:25:42.300 so I think it goes back to the knowledge factor because when you have knowledge of how money works,

00:25:48.720 then what you can do is use it as a tool. It allows you to be able to know how to grow it so it doesn't

00:25:55.740 take advantage of you, but you're able to utilize it to help others. I know I told you earlier about

00:26:00.940 giving. There was a stat that was just rattling around in my head. 70% of the millionaires that

00:26:06.460 I studied, again, over the 10,000, 70% of them say that some of their income is set aside every month

00:26:12.300 to give to others. 70%, huh? 70%. That's high. Now, and I mean, and so you think about that. And so

00:26:19.420 for the people that are saying that they're just hoarding it, that's incorrect. Right.

00:26:23.740 These are people that are looking for ways. And again, that's the people, you know, you had a

00:26:28.640 percentage of people that didn't want to disclose. And I asked them about that. I was like, well, why is

00:26:33.700 that? They're like, well, we really want it to be anonymous. You know, we don't want anybody to know

00:26:37.480 that we're doing it. And so that means they don't have the heart of trying to get glory or the

00:26:41.820 attention for it. They're doing it because they know it's the right thing to do.

00:26:47.700 Yeah. You know, I like this principle. And if you give, you're going to receive, right? The more

00:26:52.800 that you give, the more that you'll receive, the more love that you give in a relationship,

00:26:56.260 the more likely it is you'll receive in that relationship. The more value you give to others,

00:26:59.820 the more value that will be returned to you. I think the principle holds true as well. The more

00:27:04.400 money you give in a constructive and meaningful way, you basically prove to God or the universe or

00:27:09.940 whatever it is for you that you're capable of being a steward over the financial resources

00:27:17.120 you've been given. And therefore you will be given more. Yeah, no, I agree. And I think that

00:27:21.280 whole word of steward, all that means is manager. Sure. And for anyone that have worked in the business

00:27:26.720 world, you know what management is. It means you're overseeing something. You're helping something to

00:27:31.780 grow, whether that's people, resources, or a business. And so again, if we have that mindset,

00:27:37.500 it changes things. I want to encourage your listeners to do this. Most people are going

00:27:41.460 into fancy coffee shops and dropping $5 a day. So I want them to do this. Avoid the fancy coffee

00:27:47.820 shop, brew your own coffee, and save up $25 this week when you hear this. And I want you,

00:27:54.860 the next time you go out to eat or the next time you have somebody that does a great job or great

00:27:59.220 service, leave them that as a tip and watch what happens. Watch what happens to you as you leave that

00:28:06.920 tip. And I want you to go somewhere where they can't see you and hide. And I want you to watch

00:28:12.180 them as you leave them a good tip. And again, some of your listeners out there could do you $50,

00:28:18.000 $100, or maybe even $200. But I just want you to do it and watch what happens. Something inside of

00:28:23.640 you changes. Something inside of you is happy. You may not even get a thank you or hear anything.

00:28:29.780 You don't need to because you knew that you did something good. And that doing something good has

00:28:36.620 an impact on us. And I think there's a ripple effect that can be caused with that. If we get more

00:28:41.980 people doing things like that, I think we can change the way that people are looking at the

00:28:46.920 country or thinking about the country because we're changing the way that we're looking at each other.

00:28:51.220 Yeah, I wholeheartedly believe that. I wish there was, and there probably is some sort of study out

00:28:55.800 there. So if somebody knows, some sort of study out there that actually proves that that feeling or

00:29:00.860 that sense of satisfaction in being able to give and help other people will actually enhance your

00:29:08.100 capacity for more abundance in your life. I really believe that's true.

00:29:12.280 Well, Ryan, you may have given me my next project.

00:29:14.320 There you go. There you go. If it is, then you'll come back on the show. We'll discuss it then.

00:29:18.940 Absolutely, my friend.

00:29:21.660 Gents, we've been talking about tools and strategies for building wealth today.

00:29:25.140 And having those strategies and systems in place, it's critical for a successful life.

00:29:30.640 It's those systems that maximize our productivity and potential and having the tools and the

00:29:36.020 strategies and the framework. It's important when it comes to money, but it's also important in every

00:29:40.060 other area of life, your relationships, physical fitness, career aspirations, you name it.

00:29:45.920 And that's why we've worked hard at creating a system, a brotherhood, if you will, inside of our

00:29:50.120 exclusive program, the Iron Council. So when you band with us in the Iron Council,

00:29:54.020 you're going to unlock those systems that are helping men inside connect more deeply with their

00:29:58.840 wife and children, losing weight, running marathons, gaining strength, starting businesses,

00:30:03.900 securing promotions, every facet of their life. So if you want to learn more about those systems,

00:30:08.900 you want to learn more about what we're doing, including the accountability to 450 other men who

00:30:13.820 are working towards their own goals and objectives, then go check it out at orderofman.com

00:30:19.400 slash iron council. You can learn more over there and lock in your seat. Again, that's

00:30:23.520 orderofman.com slash iron council. You can do that after the show. For now, let's get back to this

00:30:28.880 conversation with Chris. Let's talk about your second myth that you identify, which is the myth that

00:30:36.200 these people who are wealthy are required to take these, these huge risks when it comes to the

00:30:41.500 financial decisions they're making. Yeah, it is. It's interesting. You know, people think that

00:30:46.320 the millionaires are taking these massive risks or going all in on a stock or the latest financial

00:30:53.660 buzz like cryptocurrencies. And in reality, that's just not true. The number one thing that these

00:31:00.500 millionaires use to be able to grow and build their wealth, again, 79% of them said that they

00:31:06.840 reached millionaire status through their employer sponsored retirement plans. Which is not a risky

00:31:12.780 proposition? Not at all. Typically. So we're talking about 401ks, 403bs, IRAs, Roth IRAs. So with

00:31:21.140 that, 80% almost. So the number one contributing factor to millionaires' high net worth is investing in

00:31:27.580 their retirement plans. So that's not a get rich quick mentality. That's not a trying to swing for the

00:31:34.260 fence with a cryptocurrency. That's investing in something that is solid, diversified, and allowed to

00:31:41.480 grow over time. This is interesting because I think we see a lot of people who are poor by the metrics

00:31:49.080 that we identify that actually are taking big risks that they can't really afford because they must

00:31:54.860 think that's the only way they can do it. And that's why you saw this, this huge cryptocurrency surge.

00:31:59.560 What was it? Six, eight, nine months ago or so. These people can't afford it, but I think they're

00:32:03.720 looking at it and think, oh, in order to make it big, I have to take a risk. Yeah. And again, you know,

00:32:08.460 looking at this, people are swinging for the fences, right? And so the whole mentality of get

00:32:14.060 rich quick is dangerous. That's why there's those programs on TV, you know, late at night trying to

00:32:20.600 catch people when they're most vulnerable or when they're willing to, you know, send in $495 for this

00:32:27.020 kid that's going to, you know, do this thing. It's that mentality that I've got to do something drastic

00:32:32.840 or I've got to do something quick in order to get there. And I want to tell people that's the opposite.

00:32:37.060 I don't want you to get rich quick. In fact, I talk about it in the book. I want you to build

00:32:41.980 wealth slow, meaning investing consistently over time. You know, I tell people investing 15% of your

00:32:47.980 income into that employer sponsored retirement plan allows your money to hang out with two of

00:32:53.800 its best friends and that's time and compound interest. And so you can build wealth, but I want

00:32:59.080 you to do it consistently. I want you to do it intentionally and I want you to stay focused.

00:33:03.460 It's funny though, because what I've heard some people say is, you know, Ryan, uh, I can't invest

00:33:09.220 as much as I would like to. So I'm going to wait until I can get to that point. To me, that's like

00:33:13.960 saying, you know, I'm not really going to go to the gym until I get in shape. And then I will.

00:33:17.660 It's like, I don't understand why we have this disconnect.

00:33:21.120 Well, the same can be true with income. You know, I've heard people say, well, Chris, you know,

00:33:25.820 I'm going to wait until I make more money before I start doing X, Y, or Z.

00:33:28.720 Right. And I laugh because I think about myself, Ryan, years ago, long before I had joined Dave's

00:33:34.780 team, I was one of those people, you know, I said, well, you know, when my income gets to here,

00:33:39.260 that's when I'll start to get serious. And the reality is, is that lifestyle will grow

00:33:43.580 or other people have a plan for your money if you don't. And you will continue to do that until you

00:33:49.980 have this wake up call. And again, when you are thinking like that, that I'll wait and start

00:33:55.060 managing my money. Well, when I get to X dollar amount, what you end up wasting is time and the

00:34:00.300 opportunity to have compound interest grow your money. So I don't care if you're making 30, 40 or

00:34:04.600 50,000 a year, I want you to get intentional with making and managing that dollar amount now,

00:34:10.420 because if you can manage 50 well, then when you get to 70, 80 or 90,000, you're already going to be

00:34:17.260 set and on a plan. I think that's a great point. I mean, I think having the habit could potentially

00:34:23.040 be more powerful than the time and compounding interest. Don't get me wrong. That's important,

00:34:27.280 but developing and articulating the right habits will also compound over time as well. You need

00:34:33.320 to establish those healthy habits. No, you really do. And those habits, speaking of habits,

00:34:37.800 I also, in talking to the millionaires, I wanted to know about the key attributes,

00:34:42.120 right? I wanted to know what are the characteristics these people have in common. And so in the research,

00:34:47.400 I was able to come up with five, you know, because we got to be careful because if we believe the

00:34:51.960 myths about wealth and the myths about wealthy, what it'll do is end up blocking us from building

00:34:56.960 wealth ourselves. Sure. So I want people to start to believe that they can become a millionaire.

00:35:01.540 But here are the five characteristics that these millionaires had in common that made them

00:35:05.700 successful. I'll list them out for you. Number one, they take personal responsibility. Number two,

00:35:11.620 they practice intentionality with their finances. Number three, they're goal oriented. Number four,

00:35:17.680 they're hard workers. And finally, number five, they know that wealth building takes consistency.

00:35:24.140 I love that. I mean, I think we ought to break each one of these down because, well,

00:35:27.240 and the thing I like about your work and the research and the book itself is, yeah,

00:35:30.540 you get a little bit tactical, but you're also looking at it from a mindset perspective. And so it's

00:35:34.420 very easy to say, well, invest in this 401k or this mutual fund or this stock, as opposed to having

00:35:39.840 the right foundational mindset that will inevitably produce the results that we're after.

00:35:43.760 No, you're absolutely right. And of these five, there's not anybody that's listening to this or

00:35:49.160 anybody in America that can't decide to begin to implement these five characteristics in their

00:35:55.380 lives right now. And I'm talking from millennial all the way up to a baby boomer and beyond. We have

00:36:02.680 that opportunity. And so the personal responsibility is really about owning where you are, whether things

00:36:08.560 are good. If things are not good, you're looking in the mirror and you go, you know what,

00:36:12.500 regardless of where it is and how it is, it's on me. And I think when we have that kind of mindset,

00:36:17.660 if we're looking at us, and I said earlier, as I tell the leadership people, as I travel and speak,

00:36:22.980 you know, that you're either part of the problem or part of the solution. And so when you have

00:36:26.980 personal responsibility, what you're doing is you're saying, I'm going to be part of the solution.

00:36:31.680 The practice intentionality with their finances, that's implementing these key habits. That's budgeting.

00:36:36.760 That's building up an emergency fund that's investing and really being very, very focused,

00:36:42.040 a goal oriented. Let me stop you right there. Cause I want to break these down just a little

00:36:45.900 bit further. And let me go back to this personal responsibility component, because, you know,

00:36:50.280 I'm trying to put myself in somebody's shoes. Who's listening to this and thinks, well, it's not

00:36:54.080 that easy or it's not that simple. And one of the things I can think of is that there are outside

00:36:59.080 circumstances that actually impact somebody's wealth. For example, somebody might say, well,

00:37:04.760 I got a divorce and my wife gets half of the assets, or I have to pay two, three, $5,000 in

00:37:09.720 alimony and child support, or I just got laid off because the economy's down or the stock market went

00:37:15.240 down. And so I lost 40% of my, my nest egg. So there are these outside factors that certainly

00:37:21.280 impact us in a negative and positive way. Like, how do you, how do you account for those things and

00:37:26.420 take responsibility, even though there are things that are outside of your control?

00:37:29.940 Yeah. As Zig Ziglar once said, it's not a matter of what happens to us. It's about our responses.

00:37:34.300 And those scenarios that you painted, whether someone is walking through a divorce or a tough

00:37:40.600 relationship, or someone has had a job loss or income drop or, or an illness in the family,

00:37:46.560 all of those things are real. All of those things are tough. And I would never, ever look at or

00:37:52.240 belittle any of those. But my, the bigger question would be now, what, what are you going to do now?

00:37:59.140 Because I think it goes back to the two options. We can wallow in it, or we can work toward getting

00:38:04.660 better. And I think there's a time obviously to feel hurt and to feel the challenge and to feel

00:38:10.500 the frustration and desperation. I, yes, but we can't make that a full-time job. We've got to keep

00:38:15.900 our eyes on moving forward. And so the personal responsibility in that is a matter of, all right,

00:38:22.120 what am I going to learn from that scenario? And then what am I going to do now moving forward?

00:38:27.240 And so, you know, I had a coach tell me years ago, he said, guys, you're either getting better or

00:38:31.920 you're getting worse. Nothing stays the same. I wrote that down. And that's another one that has

00:38:36.920 stuck with me. And so despite the challenge or the setback, right, I think we have an opportunity

00:38:42.360 to get better. And there's a phrase out there. I tweeted it a while back and I'd heard it from someone

00:38:46.300 and I can't remember, but the phrase is this, a setback is a setup for a comeback. And what we can

00:38:53.360 do, despite what has happened, we learn from it and we're striving to be able to move forward.

00:38:58.860 So we don't repeat it. Yeah. I mean, it just seems like the mentality of being proactive versus

00:39:03.180 reacting to the situation. And look, let's, let's be real. There's a time where you have to react,

00:39:07.480 you know, something caught you off guard and you got to react, but the quicker you can get back on the

00:39:10.980 offense, I think the better you're going to be. No, I think so. And I think again, taking all things as a

00:39:16.120 lesson, right, learning from it. So, you know, that way you're not, you're, you're, you're able to be

00:39:21.160 able to move forward with the right people, the right resources and the right mindset. Having those

00:39:26.760 three things in your corner, I think that allows us to grow forward. Let's talk about intentionality.

00:39:32.740 What types of activities can somebody engage in to be more intentional with their finances?

00:39:37.860 Right. Well, I think it goes back to the habits. If you want to be intentional with your finances,

00:39:41.460 then you're a, you're planning, uh, you're understanding, Hey, what, what do I have?

00:39:46.860 Where have I, and what do I want? And so that's that budgeting, you know, telling every dollar where

00:39:51.840 to go instead of wondering where it went to quote John Maxwell. I love that line. That is attacking

00:39:57.640 debt. We teach people to use the debt snowball list. Your debts, how small is the biggest, uh,

00:40:02.520 make minimum payments on everything, all the debts while you attack the smallest one with every dollar

00:40:07.540 that you have, which is what I have done personally in my life. And I can attest to the fact that it

00:40:11.600 works. So that is fantastic. How much debt did you pay off? Uh, I paid off roughly 75 to $80,000

00:40:19.900 doing that. Fantastic. See what that does again, for the people that are listening for you to have

00:40:25.620 done that, that meant it wasn't an accident. Was it? No, no. Very intentional. Absolutely.

00:40:29.980 Intentional. And so, you know, that's that process. And so using the debt snowball to attack debt,

00:40:35.820 then once you do that, you give yourself a raise because your money is going to stay with you now.

00:40:39.920 Right. Right. It's not good to Visa and American Express and all the other people.

00:40:43.740 And then if I can add in there is to be intentional about that money. Let's say you saved,

00:40:47.440 for example, or I should say freed up $2,000 a month of payments is now you don't go out and,

00:40:52.800 you know, buy the four-wheeler and get right back into debt, but you're intentional about now,

00:40:56.140 what do I do with this money? Do I increase my, my standard of living? Do I invest and save more

00:41:00.440 money? But you're intentional about the savings as well. You're absolutely right. And that,

00:41:04.240 that's what I mean, that you're happening to your money. You've worked hard for it. You know,

00:41:09.140 I know people that are driving two hours one way out in LA. I know people that are sitting in all

00:41:14.740 kinds of traffic in Chicago to catch the train. I mean, I've met these people all around the

00:41:19.140 country, hardworking people. Well, if you work hard for your money, let's make your money work

00:41:23.960 hard for you. That's the least it should do. Absolutely. Let's get onto a number three,

00:41:28.540 being goal oriented. Well, goal oriented means that you set your sights. You know,

00:41:32.740 these people didn't become millionaires on accident. They knew what they were striving

00:41:36.560 for. They knew what they were striving toward. And I think it's really important that when we set

00:41:40.900 goals, one of the things I talk about, especially, you know, this time of year in January, you've got

00:41:46.140 a new year and an opportunity for a new you. And that means I want you to set goals, but I want you

00:41:51.680 to set goals, but also be mindful in setting the goal. Be sure to list out what you're willing to

00:41:57.080 sacrifice to get there. That's really, really important. I know for myself, I set a goal. I'm

00:42:02.820 down close to around 40 pounds now. That wasn't an accident. I had to do some pushaways. I had to

00:42:08.960 push away from the kitchen table, right? Sure. And be intentional with that. And so setting a goal

00:42:14.220 and then monitoring yourself to keep you on track, I think is really, really important. And as we do this

00:42:20.800 and we practice those habits of having goals, things that we're striving for, it helps us to stay on

00:42:26.360 track. It helps us to keep our eye on the destination. That way we don't get distracted.

00:42:31.360 What are some of the goals that you had seen, maybe a reoccurring trend or goal in some of these

00:42:37.760 millionaires that you researched and interviewed?

00:42:40.500 Well, I mean, all of them were striving. You know, one of their big goals obviously was to work toward

00:42:45.900 getting to millionaire status. But I got to tell you, one of the things that they had in common

00:42:50.360 was attacking and paying off the house. It was amazing. Two thirds of the 10,000 people that

00:42:56.780 we talked to have a paid off mortgage. That's interesting because I actually,

00:43:00.040 I wouldn't have thought that number would be so high considering the low interest rate on a home,

00:43:04.940 the deductibility and the write-offs that come with having, well, I guess servicing the debt on

00:43:09.240 the home. That's a really interesting thought. I hadn't considered that.

00:43:12.680 Right. And here's the reality of that. And as far as the whole interest and keeping the mortgage for

00:43:18.020 the tax write-off, that's another one of those that I think people grab onto because it just sounds

00:43:22.420 good. And it means that I'm not, I'm going to let this mortgage sit here and hang out as opposed to

00:43:26.220 attack it. Right. It's a, you only get to deduct it if you fully itemize your taxes. Okay. And so

00:43:32.000 the reality is I tell people this, Ryan, I give people a PhD in economics with this interest that

00:43:37.660 you pay as a penalty interest that you earn as a reward. So if I have, if I have debt and I'm paying

00:43:44.460 interest, I'm being penalized because that money's leaving me. But if I have investments and my

00:43:49.340 money's growing, then I'm earning interest. And so that concept in itself helps me paint the picture

00:43:54.720 for people to understand. You have a mortgage. If you have a mortgage, you're paying interest.

00:43:59.660 That means you're being penalized. So let's attack that and pay it off. And now you free up that

00:44:04.900 mortgage payment to start to work for you instead of going to others. And oh, by the way,

00:44:09.560 the average millionaire pays off their home in 11 years. Hmm. I kind of liken it to. And one of

00:44:15.700 the things I've said in the past is that you basically are tripping over dollars to pick up

00:44:19.640 dimes. I like when you're doing that. I like that. I've heard it said this way. I'm never going to

00:44:24.180 trade a quarter for a dollar. Right. But I will say this though, Chris, and let's just play this out

00:44:28.960 a little bit because I think the thought is, and there may be some validity to this, especially in a,

00:44:34.220 in a good economy is that I can take, let's say I'm going to double my payments. Let's just for the

00:44:38.940 sake of math, my mortgage is a thousand dollars. I'm going to double my payments. I'm going to pay

00:44:42.060 $2,000 a month. I think the thought is that I can take that thousand dollars and invest it and yield

00:44:48.120 a higher return than what I'm paying interest on with regards to the mortgage. Yeah, no, I agree.

00:44:53.140 And I misspoke, Ryan. I said, I wouldn't trade a quarter for a dollar. I meant I'm not trading a

00:44:57.440 dollar for a quarter. Right. We knew what you meant. We knew what you meant. But I want to clarify,

00:45:00.760 but you're right. And I think helping people to think differently, again, it goes back to,

00:45:05.020 let's understand how these numbers work. You know, let's understand how interest can work

00:45:09.380 in your favor instead of in the favor of others. And as you invest and you do that, and again,

00:45:15.220 I want to remove the risk part. That's the other side of paying off the house that I don't think

00:45:19.780 people understand. When you have a mortgage, you have risk. I want people to have risk out of their

00:45:25.140 lives in the form of debt. And I want them to have more opportunity in their life in the form of

00:45:30.240 options. Yeah. I mean, I think having those options are very, very powerful. And then you

00:45:34.920 can choose based on your circumstances or the economic climate or whatever factor that you're

00:45:40.460 dealing with at that given moment. It empowers us. We have the opportunity. The options are out

00:45:46.800 there. They're available. But what we have to do is make a decision and understand really what's at

00:45:51.140 stake and believe that we can do it. Yeah. What about hard work? I mean, this is such a buzzword,

00:45:56.560 right? Oh, just work hard and everything will work out. So, you know, how do we, how do we begin

00:46:00.700 to work hard? What type of hard work are we talking about here? And what does this actually look like

00:46:04.640 in reality? Yeah. I think the big thing is, is with hard workers, this is about people that are

00:46:10.820 really committed to what it is that they're doing. They are people that are doing the consistency side

00:46:18.040 day in and day out. They're not scared of doing the boring thing. You know, they're not looking to be

00:46:24.000 flashy or glamorous. They're looking to really drive toward their goals. And if you're going to

00:46:28.580 achieve goals, it's going to take hard work, especially if you've set those kinds of big

00:46:32.760 goals. So it's getting up and doing the things, you know, to do day in and day out, really staying

00:46:37.980 connected to the things that matter most to you and, and really understanding the opportunity.

00:46:43.260 I don't know anybody that's been successful. They got there by accident. These are people that have

00:46:47.840 put in time as I worked with a lot of pro athletes. You know, I can remember guys,

00:46:52.020 a story I read about Larry Bird. Larry Bird played for the Celtics, you know, back in the seventies and

00:46:57.320 eighties, a phenomenal player and had an unrealistic percentage for free throw hitting or game winning

00:47:04.080 shots at the free point line. And what people don't understand is that the story goes that he used to

00:47:09.040 shoot 50 free throws at the end of every practice. And if he missed one, he started over.

00:47:15.100 Wow. You can imagine with the game on the line and him standing at the foul line,

00:47:19.580 uh, getting ready to shoot those shots. This man has done it hundreds of thousands of times,

00:47:25.380 not just thought about it. He's done it. So the pressure of the situation there doesn't rattle

00:47:31.220 him because he's in the habit of doing that. And so to me, hard work is putting in the time,

00:47:37.080 uh, making the sacrifices day in and day out to the point that it just becomes a part of your fabric

00:47:43.200 and who you are. I like this idea of actually putting in the reps and putting in the practice.

00:47:47.680 Somebody the other day paid me a compliment to which I was, I was grateful for. And they said,

00:47:51.120 you're, you're so gifted when it comes to communicating. And I thought to myself,

00:47:54.000 is that really true? And the answer is most certainly no, it is not true. But I calculated

00:47:59.400 the amount of hours that I've sat behind this podcast microphone and had these conversations

00:48:04.020 and it was just shy of 20,000 hours. So it's not a gift. It's a practice. It's a skill set that

00:48:12.040 has been developed over time. Yeah. And I'm going to tell you this, you are skilled at what you do.

00:48:17.520 Because you have practice, but you also have a natural ability that you've cultured through hard

00:48:25.160 work, through reading, through listening to yourself, through watching others. And so you're

00:48:30.000 right. It's not an accident, you know, that you have that skill set and it's not an accident when

00:48:34.720 people become a millionaire because they decided and they put in the time and they gave the effort

00:48:40.120 to get there. And so that's what comprises hard work in my mind. I think, um, and I misspoke.

00:48:46.660 I said hours, I should have said minutes under 20,000 minutes. That's what I meant to say.

00:48:51.020 Anyways, beside the point, I just want to make sure I clarify there. It wasn't that much.

00:48:55.500 I think people inherently know that they need to work hard, but I think even when somebody sets

00:49:00.260 out to do something that they may be good for a week or a month or a year even, but then something

00:49:06.560 derails them or gets them off course. Did you find that there was a common theme or a common

00:49:12.720 circumstance that, that got these types of people off track and then how do they get back

00:49:17.080 on track? Some of the millionaires had talked about that. They had run a little bit ahead of

00:49:22.040 themselves in as far as planning or trying to get something. And a lot of times that would be in the

00:49:27.340 form of, of a home or something that they bought, but it was also this wake up call, you know, for them

00:49:33.100 that if they did make that financial error, they quickly came to where they were focused on, Hey,

00:49:39.180 you know what? I'm not going backwards. And they were able to write the ship. And so I think that's

00:49:43.680 what leads to the fifth trait, which is more important, which is that they know that wealth

00:49:48.120 building takes consistency, that it's not a flash in the pan, you know, to say that almost 80% of

00:49:54.460 them reached millionaire status through their employer sponsored retirement plans, the 401ks and

00:49:58.940 403bs that meant that they were consistently investing their money month in month out year after

00:50:06.500 year, decade after decade. And that's what caused them to get to that status. It's not a flash in

00:50:12.180 the pan. It's not, you know, one huge jump. It's that consistency and making that a habit.

00:50:18.620 I think this actually alludes to one of the conclusions that you drew from your research.

00:50:23.660 And this fascinated me that the top three answers, as far as occupation were engineer, accountant,

00:50:30.060 and teacher. Now, if you would have asked me, what do you think they would be? I would say,

00:50:34.720 doctor, lawyer, financial professional. So it's really fascinating that these are not

00:50:41.060 necessarily high paying jobs that we're talking about here.

00:50:44.800 No, not at all. A lot of people think that that was another myth that I chopped down in the book.

00:50:49.560 You know, people think, you know, you got to have a super high income. That's not the reality.

00:50:55.040 People, as you look at this, only 15% of the millionaires that I, that we researched were in

00:50:59.960 senior leadership in their company, vice president or senior vice president, only 7%.

00:51:04.460 of them were C-suite executives, you know, CEO, chief marketing officer, CFO, 18% of them were

00:51:12.040 self-employed. And so of those top five jobs, you had engineer, accountant, teacher, and management.

00:51:19.000 And so looking at this, engineers, where they're totally used to keeping track of stuff and

00:51:24.400 following plans. Accountants are good with money. And so the habit of budgeting is easy,

00:51:29.520 but teachers, they're focused people. They're willing to learn because they teach. And so they

00:51:34.700 have the ability to stick to the plan. And then people that are in management, these were people

00:51:39.160 that learn skills and practice skills and that those five characteristics that I talked about over

00:51:44.100 time. And so for the listeners out there, regardless of your job, regardless of your

00:51:49.380 occupation, and I'll even take it as far as to say, regardless of your income, you've got the

00:51:54.540 opportunity to implement these five characteristics, these five attributes, and to put yourself on the

00:51:59.860 path to becoming an everyday millionaire. Yeah, that's it. I didn't consider that,

00:52:04.160 but it's more the skillset that you have as opposed to the income or potential income earnings that you

00:52:10.380 possess. Yeah. Because I mean, I've worked with pro athletes that, you know, made three to four to

00:52:15.240 $5 million in a year, but two to three years after they're out of the league, they're broke.

00:52:19.460 Well, how is that? How did they come into more money than most people will ever see in their

00:52:23.940 lifetime? They got that in a year and it's gone. Well, they didn't have these characteristics or they

00:52:29.580 didn't have them as it relates with money. They could have been goal oriented and hard workers, but

00:52:34.380 were they intentional with their finances? Did they know that building wealth takes consistency? So they

00:52:39.800 were missing some key components that caused them to lose their wealth instead of building it.

00:52:45.240 Yeah. Yeah, man, this is powerful. What I like most about it is that it's, it's the research,

00:52:50.720 that's the data behind it, but it's giving us who are, you know, everyday ordinary men who,

00:52:57.520 you know, maybe don't have the highest paying jobs or, or the highest level of education,

00:53:02.100 but it gives us some optimism that these types of wealth type stories are, are, are true and they

00:53:09.160 can happen for us if we implement the five things you're talking about here.

00:53:12.120 Yeah, we, it really is. And I think that's the key message I want people to get from the book

00:53:16.460 as they read it. And it's set up so great. You know, my editorial team and, and research team

00:53:21.800 here are phenomenal. You're going to have an opportunity to read the stats about these over

00:53:26.220 10,000 millionaires that I talked to. Uh, you're going to have an opportunity to learn about the

00:53:30.240 attributes and the things that they did. But most importantly, uh, my favorite part of the book

00:53:35.160 are the stories. We have real stories of the millionaires inside of the book throughout the chapters.

00:53:40.320 We're really talking about and drilling down into the individual millionaire story. And people are

00:53:46.660 going to enjoy reading those stories, uh, hearing about the obstacles and challenges that they

00:53:51.940 overcame, but how they did it. And so that excites me. And I think people are really and truly going

00:53:56.940 to enjoy this message. I know they will. And I know we're just scratching the surface on the

00:54:00.860 depth of work that you and Dave Ramsey have been doing over the past decades. These guys really need

00:54:05.640 to reach out. They need to read this book, but they need to reach out and figure out what else you guys

00:54:09.220 are offering. Cause there's so much valuable insight, uh, into what you're doing. So as we

00:54:13.620 wind down today, I want to ask you a couple additional questions. The first one I did prepare

00:54:17.400 you for a little bit, and that is what does it mean to be a man? You know, as you think about

00:54:21.380 being a man, I think there's a few things. I think it's striving to be better, but I think

00:54:27.300 protecting and serving and looking at your family, looking at your career, really understanding

00:54:33.120 that you've got an opportunity to get better, to be able to grow in many, many areas. And

00:54:37.940 it's going to be based on the knowledge that you gained and the people that you hang out

00:54:41.660 with.

00:54:42.900 Excellent. And how do we connect with you and find out about the book, find out about the

00:54:46.700 work you're doing and the lectures and everything else that you have going on?

00:54:49.620 Yeah. Well, I mean, it's really easy. Uh, you can get connected with me by going to

00:54:53.160 chrishogan360.com. That's my website. It'll tell you about the Chris Hogan show. It'll tell

00:54:58.760 you about the book. I've got some free resources and tools on my website to help people in this

00:55:03.640 financial area. And it also talks about the different events that I have going on around the

00:55:07.660 country.

00:55:08.380 Excellent. We'll link it up for the guys. Chris, I just want to let you know, I appreciate

00:55:11.680 you taking some time. I know it's busy for you right now. It's crunch time as you're getting

00:55:15.580 ready for the launch of the book, but man, I can't tell you how good it's been to have

00:55:19.480 you on the show and talk about some of this wisdom. I know the guys are getting a lot of

00:55:22.000 value from it.

00:55:23.020 Well, I appreciate it, Ryan. And thank you for having me. And I look forward to talking to

00:55:26.240 you again.

00:55:28.580 Gentlemen, there it is my conversation with the one and only Chris Hogan. I hope that you enjoyed

00:55:32.200 that one. As you can tell, I mean, Chris is powerful, not only talking about his voice,

00:55:35.980 his voice is incredible, but he has so much conviction and passion behind what he shares.

00:55:40.340 And I think you probably heard that in the conversation today. And I hope it's inspiring

00:55:45.020 you and driving you to not only pick up a copy of his book, but to really get on top of your

00:55:49.080 finances and get on top of your money. I wish it weren't the case that we had to worry so

00:55:53.840 much about finances and some obviously worry more than others, but we need to, it's critical.

00:55:59.020 It's a huge, huge component of being a successful man. So get the stuff in check, pick up a copy

00:56:04.200 of the book, implement the strategies and improve your life financially. Get out of debt, save money,

00:56:09.940 manage your cashflow, all that fun stuff. All right, guys, you can pick up a copy on Amazon

00:56:14.120 or you can head to order of man.com slash one nine nine as an episode 199 and click on the link.

00:56:21.900 That'll take you to the book there. Also connect with Chris on Twitter, Instagram, Facebook,

00:56:26.260 wherever you're doing social media and connect with me while you're at it, especially on Instagram,

00:56:30.740 very, very active on Instagram at Ryan Mickler. And my last name is spelled M I C H L E R.

00:56:36.760 So we'll call it a day guys. I hope you enjoyed the episode. I hope that you're walking away with

00:56:40.440 some, uh, some practical information to help you improve your life as a man. And again, as I end

00:56:45.420 these, as I always do, it's about you. I really appreciate you. I recognize that I could not do

00:56:51.480 this without your support and help. And I appreciate the ratings, the reviews, you sharing, you having

00:56:56.460 conversations about what we're talking about here within order of man on the podcast and everywhere

00:57:00.920 else we're showing up. So guys go out there, take action and become the man you are meant to be.

00:57:07.280 Thank you for listening to the order of man podcast. You're ready to take charge of your life

00:57:11.880 and be more of the man you were meant to be. We invite you to join the order at order of man.com.

Order of Man - January 08, 2019

How to Become a Millionaire ｜ CHRIS HOGAN

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