{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":2.49,"endTime":3.96,"body":"Hey,"},{"speaker":"Average Joe Finances","startTime":2.49,"endTime":3.96,"body":"welcome back everybody to the"},{"speaker":"Average Joe Finances","startTime":3.96,"endTime":5.79,"body":"Average Show Finances Podcast."},{"speaker":"Average Joe Finances","startTime":5.82,"endTime":10.33,"body":"I'm your host, Mike Cavaggioni"},{"speaker":"Average Joe Finances","startTime":5.82,"endTime":10.33,"body":"and today's guest is Jerry Fetta."},{"speaker":"Average Joe Finances","startTime":10.56,"endTime":14.31,"body":"So Jerry and I were talking a little"},{"speaker":"Average Joe Finances","startTime":10.56,"endTime":14.31,"body":"bit before we hit the record button."},{"speaker":"Average Joe Finances","startTime":14.341,"endTime":18.181,"body":"I understand he's down in Florida enjoying"},{"speaker":"Average Joe Finances","startTime":14.341,"endTime":18.181,"body":"that sunny weather and I'm enjoying the"},{"speaker":"Average Joe Finances","startTime":18.181,"endTime":20.251,"body":"sunny weather out here, Ewa Beach, Hawaii."},{"speaker":"Average Joe Finances","startTime":20.251,"endTime":23.371,"body":"So we kinda had something"},{"speaker":"Average Joe Finances","startTime":20.251,"endTime":23.371,"body":"to bond over really quick."},{"speaker":"Average Joe Finances","startTime":23.384,"endTime":23.984,"body":"Hey Jerry."},{"speaker":"Average Joe Finances","startTime":24.054,"endTime":27.104,"body":"Just looking at your background"},{"speaker":"Average Joe Finances","startTime":24.054,"endTime":27.104,"body":"it's super exciting to have someone"},{"speaker":"Average Joe Finances","startTime":27.104,"endTime":30.524,"body":"like you on the show and share"},{"speaker":"Average Joe Finances","startTime":27.104,"endTime":30.524,"body":"your story and what you're doing."},{"speaker":"Average Joe Finances","startTime":30.734,"endTime":32.264,"body":"So thanks for joining me today."},{"speaker":"Average Joe Finances","startTime":33.044,"endTime":33.314,"body":"Yeah."},{"speaker":"Jerry Fetta","startTime":33.314,"endTime":35.174,"body":"Thank you so much"},{"speaker":"Jerry Fetta","startTime":33.314,"endTime":35.174,"body":"for having me on Mike, by the way."},{"speaker":"Jerry Fetta","startTime":35.174,"endTime":36.794,"body":"I used to live in Alaska."},{"speaker":"Jerry Fetta","startTime":36.914,"endTime":37.718,"body":"Believe it or not."},{"speaker":"Jerry Fetta","startTime":37.732,"endTime":40.477,"body":"Oh, I've had the extreme colds"},{"speaker":"Jerry Fetta","startTime":37.732,"endTime":40.477,"body":"and the extreme hots now."},{"speaker":"Average Joe Finances","startTime":40.907,"endTime":41.507,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":41.537,"endTime":42.017,"body":"Yeah, definitely."},{"speaker":"Average Joe Finances","startTime":42.017,"endTime":42.976,"body":"You know what, let's get into that."},{"speaker":"Average Joe Finances","startTime":42.976,"endTime":44.135,"body":"Let's talk about that a little bit."},{"speaker":"Average Joe Finances","startTime":44.135,"endTime":46.25,"body":"Having you come on the show, I'm"},{"speaker":"Average Joe Finances","startTime":44.135,"endTime":46.25,"body":"gonna ask you the same question."},{"speaker":"Average Joe Finances","startTime":46.25,"endTime":50.567,"body":"I ask everybody that first comes on and"},{"speaker":"Average Joe Finances","startTime":46.25,"endTime":50.567,"body":"we wanna know a little bit more about you."},{"speaker":"Average Joe Finances","startTime":50.572,"endTime":53.657,"body":"So if you could share your story,"},{"speaker":"Average Joe Finances","startTime":50.572,"endTime":53.657,"body":"how everything got started for"},{"speaker":"Average Joe Finances","startTime":53.657,"endTime":57.299,"body":"you and definitely wanna know how"},{"speaker":"Average Joe Finances","startTime":53.657,"endTime":57.299,"body":"you went from Alaska to Florida."},{"speaker":"Average Joe Finances","startTime":57.299,"endTime":59.239,"body":"It's two different sides"},{"speaker":"Average Joe Finances","startTime":57.299,"endTime":59.239,"body":"of the world, pretty much."},{"speaker":"Average Joe Finances","startTime":59.266,"endTime":62.266,"body":"How did you wind up in Florida and how"},{"speaker":"Average Joe Finances","startTime":59.266,"endTime":62.266,"body":"did you get to where you are today?"},{"speaker":"Jerry Fetta","startTime":63.466,"endTime":63.646,"body":"Yeah."},{"speaker":"Jerry Fetta","startTime":63.67,"endTime":65.809,"body":"We moved to Florida about a year ago."},{"speaker":"Jerry Fetta","startTime":65.809,"endTime":69.016,"body":"Just, I'll backtrack some of my company"},{"speaker":"Jerry Fetta","startTime":65.809,"endTime":69.016,"body":"wealth dynamics I've been in the"},{"speaker":"Jerry Fetta","startTime":69.016,"endTime":71.386,"body":"financial industry for about a decade now."},{"speaker":"Jerry Fetta","startTime":71.836,"endTime":73.85,"body":"And it's actually what"},{"speaker":"Jerry Fetta","startTime":71.836,"endTime":73.85,"body":"I started doing at 18."},{"speaker":"Jerry Fetta","startTime":73.85,"endTime":77.079,"body":"I was a personal trainer and a bodybuilder"},{"speaker":"Jerry Fetta","startTime":73.85,"endTime":77.079,"body":"for a little while I transitioned into"},{"speaker":"Jerry Fetta","startTime":77.079,"endTime":79.689,"body":"finances and I saw a lot of parallels."},{"speaker":"Jerry Fetta","startTime":79.719,"endTime":82.964,"body":"That's what I liked with that, earn more"},{"speaker":"Jerry Fetta","startTime":79.719,"endTime":82.964,"body":"than you spend, burn more calories than"},{"speaker":"Jerry Fetta","startTime":82.964,"endTime":85.094,"body":"you consume, like similar parallels."},{"speaker":"Jerry Fetta","startTime":85.544,"endTime":89.431,"body":"And so I did that for many years in"},{"speaker":"Jerry Fetta","startTime":85.544,"endTime":89.431,"body":"Alaska and that's where I grew up, I lived"},{"speaker":"Jerry Fetta","startTime":89.431,"endTime":94.888,"body":"there for about 20 years and as I grew my"},{"speaker":"Jerry Fetta","startTime":89.431,"endTime":94.888,"body":"business, I started, especially in today's"},{"speaker":"Jerry Fetta","startTime":94.888,"endTime":96.388,"body":"day and age, getting a lot more digital."},{"speaker":"Jerry Fetta","startTime":97.348,"endTime":100.502,"body":"And so we were able to start, really"},{"speaker":"Jerry Fetta","startTime":97.348,"endTime":100.502,"body":"being more of a cloud based interface."},{"speaker":"Jerry Fetta","startTime":100.507,"endTime":105.223,"body":"So I was in Los Angeles in early"},{"speaker":"Jerry Fetta","startTime":100.507,"endTime":105.223,"body":"2020 doing some work and seeing"},{"speaker":"Jerry Fetta","startTime":105.223,"endTime":107.905,"body":"some clients down there and"},{"speaker":"Jerry Fetta","startTime":105.223,"endTime":107.905,"body":"literally right when COVID had hit."},{"speaker":"Jerry Fetta","startTime":108.445,"endTime":110.635,"body":"So we got stuck in LA for a year."},{"speaker":"Jerry Fetta","startTime":110.69,"endTime":113.84,"body":"And we were just intending on visiting for"},{"speaker":"Jerry Fetta","startTime":110.69,"endTime":113.84,"body":"a little, we were stuck there for a year."},{"speaker":"Jerry Fetta","startTime":113.84,"endTime":116.716,"body":"And then, during that year we realized"},{"speaker":"Jerry Fetta","startTime":113.84,"endTime":116.716,"body":"we don't need to go back to Alaska."},{"speaker":"Jerry Fetta","startTime":116.716,"endTime":118.406,"body":"We can run this business from anywhere."},{"speaker":"Jerry Fetta","startTime":118.406,"endTime":121.368,"body":"That's one of the benefits of passive"},{"speaker":"Jerry Fetta","startTime":118.406,"endTime":121.368,"body":"income and residual income and having"},{"speaker":"Jerry Fetta","startTime":121.373,"endTime":124.708,"body":"an online business is you can do it from"},{"speaker":"Jerry Fetta","startTime":121.373,"endTime":124.708,"body":"your laptop and there's a lot of freedom."},{"speaker":"Jerry Fetta","startTime":125.098,"endTime":127.128,"body":"So we just thought about"},{"speaker":"Jerry Fetta","startTime":125.098,"endTime":127.128,"body":"where would we like to go?"},{"speaker":"Jerry Fetta","startTime":127.188,"endTime":130.167,"body":"And Florida was what came to mind"},{"speaker":"Jerry Fetta","startTime":127.188,"endTime":130.167,"body":"and that's when we moved over about"},{"speaker":"Jerry Fetta","startTime":130.167,"endTime":132.72,"body":"a year ago and we've been here"},{"speaker":"Jerry Fetta","startTime":130.167,"endTime":132.72,"body":"since just enjoying the sunshine"},{"speaker":"Jerry Fetta","startTime":132.723,"endTime":133.838,"body":"and growing our company down here."},{"speaker":"Average Joe Finances","startTime":134.688,"endTime":135.553,"body":"Oh right on man."},{"speaker":"Average Joe Finances","startTime":135.602,"endTime":140.613,"body":"That is like the ideal way to do"},{"speaker":"Average Joe Finances","startTime":135.602,"endTime":140.613,"body":"things, that's the whole idea behind"},{"speaker":"Average Joe Finances","startTime":140.613,"endTime":143.583,"body":"building passive income and building"},{"speaker":"Average Joe Finances","startTime":140.613,"endTime":143.583,"body":"your wealth is so you can have that"},{"speaker":"Average Joe Finances","startTime":143.583,"endTime":145.533,"body":"freedom to do things like that."},{"speaker":"Average Joe Finances","startTime":145.533,"endTime":149.403,"body":"And I think that's the biggest goal"},{"speaker":"Average Joe Finances","startTime":145.533,"endTime":149.403,"body":"for most people is that they wanna have"},{"speaker":"Average Joe Finances","startTime":149.403,"endTime":153.064,"body":"that freedom to be able to live where"},{"speaker":"Average Joe Finances","startTime":149.403,"endTime":153.064,"body":"they want, and be able to Just live"},{"speaker":"Average Joe Finances","startTime":153.064,"endTime":156.604,"body":"this life of enjoyment, fulfillment"},{"speaker":"Average Joe Finances","startTime":153.064,"endTime":156.604,"body":"and not have to worry about can"},{"speaker":"Average Joe Finances","startTime":156.604,"endTime":158.044,"body":"I put food on the table at night?"},{"speaker":"Average Joe Finances","startTime":158.057,"endTime":159.441,"body":"So that's pretty awesome, man."},{"speaker":"Average Joe Finances","startTime":159.771,"endTime":163.054,"body":"Now, what is it that you"},{"speaker":"Average Joe Finances","startTime":159.771,"endTime":163.054,"body":"currently do, in your own personal"},{"speaker":"Average Joe Finances","startTime":163.059,"endTime":164.254,"body":"financial freedom journey?"},{"speaker":"Average Joe Finances","startTime":164.254,"endTime":166.588,"body":"I know you said you run"},{"speaker":"Average Joe Finances","startTime":164.254,"endTime":166.588,"body":"wealth dynamics, right?"},{"speaker":"Average Joe Finances","startTime":166.588,"endTime":167.758,"body":"So what is it?"},{"speaker":"Average Joe Finances","startTime":167.758,"endTime":172.308,"body":"So is that company still Alaska based"},{"speaker":"Average Joe Finances","startTime":167.758,"endTime":172.308,"body":"or has it moved to Florida with you?"},{"speaker":"Jerry Fetta","startTime":173.548,"endTime":177.66,"body":"So it's still an Alaska"},{"speaker":"Jerry Fetta","startTime":173.548,"endTime":177.66,"body":"based LLC and we've got an expansion"},{"speaker":"Jerry Fetta","startTime":177.66,"endTime":179.74,"body":"and an LLC now in Florida as well."},{"speaker":"Jerry Fetta","startTime":179.74,"endTime":181.562,"body":"But our staff are all here in Florida."},{"speaker":"Jerry Fetta","startTime":181.592,"endTime":184.442,"body":"We've got some throughout the"},{"speaker":"Jerry Fetta","startTime":181.592,"endTime":184.442,"body":"United States, so we don't have"},{"speaker":"Jerry Fetta","startTime":184.442,"endTime":186.392,"body":"anyone in Alaska now, but clients."},{"speaker":"Jerry Fetta","startTime":186.444,"endTime":189.413,"body":"And so that's our main, headquarters"},{"speaker":"Jerry Fetta","startTime":186.444,"endTime":189.413,"body":"I would say is in Florida."},{"speaker":"Jerry Fetta","startTime":189.833,"endTime":192.851,"body":"And the main thing that we do is"},{"speaker":"Jerry Fetta","startTime":189.833,"endTime":192.851,"body":"we help families and individuals,"},{"speaker":"Jerry Fetta","startTime":192.907,"endTime":196.247,"body":"number one become financially"},{"speaker":"Jerry Fetta","startTime":192.907,"endTime":196.247,"body":"educated and financially literate"},{"speaker":"Jerry Fetta","startTime":196.642,"endTime":198.782,"body":"but with the real truth about money."},{"speaker":"Jerry Fetta","startTime":198.832,"endTime":202.621,"body":"When I was a financial advisor there's one"},{"speaker":"Jerry Fetta","startTime":198.832,"endTime":202.621,"body":"side of finances that you learn that's on,"},{"speaker":"Jerry Fetta","startTime":202.651,"endTime":207.181,"body":"CNBC and you're gonna hear from all the"},{"speaker":"Jerry Fetta","startTime":202.651,"endTime":207.181,"body":"financial professionals and experts, and"},{"speaker":"Jerry Fetta","startTime":207.181,"endTime":208.861,"body":"then there's what the wealthy actually do."},{"speaker":"Jerry Fetta","startTime":209.371,"endTime":212.634,"body":"And so for me, that was a hard learning"},{"speaker":"Jerry Fetta","startTime":209.371,"endTime":212.634,"body":"curve on, learning it, the retail"},{"speaker":"Jerry Fetta","startTime":212.634,"endTime":215.694,"body":"way is what I call it mainstream and"},{"speaker":"Jerry Fetta","startTime":212.634,"endTime":215.694,"body":"then figuring out behind the scenes,"},{"speaker":"Jerry Fetta","startTime":215.694,"endTime":218.332,"body":"what actually happens and realizing"},{"speaker":"Jerry Fetta","startTime":215.694,"endTime":218.332,"body":"that those aren't the same thing."},{"speaker":"Jerry Fetta","startTime":218.401,"endTime":221.341,"body":"So we teach clients and families that,"},{"speaker":"Jerry Fetta","startTime":218.401,"endTime":221.341,"body":"and really the big goal is learning"},{"speaker":"Jerry Fetta","startTime":221.341,"endTime":224.576,"body":"that the second step we help with"},{"speaker":"Jerry Fetta","startTime":221.341,"endTime":224.576,"body":"is becoming financially solvent."},{"speaker":"Jerry Fetta","startTime":225.116,"endTime":227.666,"body":"And then once someone's got that"},{"speaker":"Jerry Fetta","startTime":225.116,"endTime":227.666,"body":"foundation, then starting to achieve"},{"speaker":"Jerry Fetta","startTime":227.666,"endTime":231.056,"body":"greater financial freedom with one of the"},{"speaker":"Jerry Fetta","startTime":227.666,"endTime":231.056,"body":"end goals of financial independence, not"},{"speaker":"Jerry Fetta","startTime":231.056,"endTime":232.336,"body":"having to trade time for money anymore."},{"speaker":"Average Joe Finances","startTime":233.441,"endTime":235.931,"body":"I absolutely"},{"speaker":"Average Joe Finances","startTime":233.441,"endTime":235.931,"body":"love that and respect that."},{"speaker":"Average Joe Finances","startTime":235.931,"endTime":237.761,"body":"That is exactly what"},{"speaker":"Average Joe Finances","startTime":235.931,"endTime":237.761,"body":"we're trying to do here."},{"speaker":"Average Joe Finances","startTime":237.761,"endTime":241.871,"body":"With Average Joe Finances as well is"},{"speaker":"Average Joe Finances","startTime":237.761,"endTime":241.871,"body":"promote financial literacy and show"},{"speaker":"Average Joe Finances","startTime":241.871,"endTime":246.059,"body":"people that there are so many different"},{"speaker":"Average Joe Finances","startTime":241.871,"endTime":246.059,"body":"ways for you to build your wealth and"},{"speaker":"Average Joe Finances","startTime":246.059,"endTime":247.799,"body":"get yourself out of that rat race."},{"speaker":"Average Joe Finances","startTime":247.877,"endTime":248.958,"body":"So that's awesome, man."},{"speaker":"Average Joe Finances","startTime":248.958,"endTime":251.748,"body":"So I'd like to talk about that a"},{"speaker":"Average Joe Finances","startTime":248.958,"endTime":251.748,"body":"little bit, cuz you, you had mentioned"},{"speaker":"Average Joe Finances","startTime":251.748,"endTime":255.592,"body":"like, you have the mainstream way"},{"speaker":"Average Joe Finances","startTime":251.748,"endTime":255.592,"body":"and then you have the behind the"},{"speaker":"Average Joe Finances","startTime":255.592,"endTime":257.362,"body":"scenes, like what's really going on."},{"speaker":"Average Joe Finances","startTime":257.662,"endTime":261.077,"body":"And I would say that I would argue"},{"speaker":"Average Joe Finances","startTime":257.662,"endTime":261.077,"body":"that's, Hey, this is what the top 1% do."},{"speaker":"Jerry Fetta","startTime":261.113,"endTime":261.393,"body":"For sure."},{"speaker":"Average Joe Finances","startTime":261.398,"endTime":263.213,"body":"So how"},{"speaker":"Average Joe Finances","startTime":261.398,"endTime":263.213,"body":"does somebody build wealth?"},{"speaker":"Average Joe Finances","startTime":263.213,"endTime":264.353,"body":"Like the top 1%?"},{"speaker":"Jerry Fetta","startTime":265.743,"endTime":267.393,"body":"So that's a great question."},{"speaker":"Jerry Fetta","startTime":267.393,"endTime":268.803,"body":"And there's a lot that goes into that."},{"speaker":"Jerry Fetta","startTime":268.803,"endTime":272.149,"body":"So again, I was a mainstream"},{"speaker":"Jerry Fetta","startTime":268.803,"endTime":272.149,"body":"financial advisor when I first got"},{"speaker":"Jerry Fetta","startTime":272.154,"endTime":275.463,"body":"started and I did that for many"},{"speaker":"Jerry Fetta","startTime":272.154,"endTime":275.463,"body":"years, was endorsed by Dave Ramsey."},{"speaker":"Jerry Fetta","startTime":275.51,"endTime":277.671,"body":"We were in like eight"},{"speaker":"Jerry Fetta","startTime":275.51,"endTime":277.671,"body":"different states at that time."},{"speaker":"Jerry Fetta","startTime":278.061,"endTime":281.691,"body":"And so I was very ingrained in"},{"speaker":"Jerry Fetta","startTime":278.061,"endTime":281.691,"body":"the retail or mainstream method"},{"speaker":"Jerry Fetta","startTime":281.691,"endTime":284.785,"body":"of put everything in a retirement"},{"speaker":"Jerry Fetta","startTime":281.691,"endTime":284.785,"body":"account and buy your mutual funds."},{"speaker":"Jerry Fetta","startTime":284.785,"endTime":287.923,"body":"And, hopefully when you're 60, you've got"},{"speaker":"Jerry Fetta","startTime":284.785,"endTime":287.923,"body":"enough there and you've paid off all your."},{"speaker":"Jerry Fetta","startTime":287.923,"endTime":293.441,"body":"debt And what I noticed was when I looked"},{"speaker":"Jerry Fetta","startTime":287.923,"endTime":293.441,"body":"at certain wealthy people, they didn't"},{"speaker":"Jerry Fetta","startTime":293.441,"endTime":295.181,"body":"have anything to do with that system."},{"speaker":"Jerry Fetta","startTime":296.291,"endTime":299.141,"body":"Like they weren't interested in the"},{"speaker":"Jerry Fetta","startTime":296.291,"endTime":299.141,"body":"financial products and the mutual funds."},{"speaker":"Jerry Fetta","startTime":299.183,"endTime":301.043,"body":"They were doing something else"},{"speaker":"Jerry Fetta","startTime":299.183,"endTime":301.043,"body":"and as I had to start looking"},{"speaker":"Jerry Fetta","startTime":301.043,"endTime":303.592,"body":"and pulling that string on, okay"},{"speaker":"Jerry Fetta","startTime":301.043,"endTime":303.592,"body":"what are these people doing?"},{"speaker":"Jerry Fetta","startTime":304.132,"endTime":307.403,"body":"And so for me, when I started, looking"},{"speaker":"Jerry Fetta","startTime":304.132,"endTime":307.403,"body":"at, okay, what do the wealthy actually do?"},{"speaker":"Jerry Fetta","startTime":307.403,"endTime":310.403,"body":"The best thing I was able to do is"},{"speaker":"Jerry Fetta","startTime":307.403,"endTime":310.403,"body":"just go study their biographies."},{"speaker":"Jerry Fetta","startTime":311.153,"endTime":314.252,"body":"And so I started reading biographies"},{"speaker":"Jerry Fetta","startTime":311.153,"endTime":314.252,"body":"on guys John Rockefeller,"},{"speaker":"Jerry Fetta","startTime":314.252,"endTime":315.842,"body":"Andrew Carnegie, JP Morgan."},{"speaker":"Jerry Fetta","startTime":315.887,"endTime":318.647,"body":"Some of these big historical"},{"speaker":"Jerry Fetta","startTime":315.887,"endTime":318.647,"body":"names and finances and I started"},{"speaker":"Jerry Fetta","startTime":318.647,"endTime":320.357,"body":"seeing a lot of commonalities."},{"speaker":"Jerry Fetta","startTime":320.436,"endTime":323.746,"body":"And one of those commonalities was,"},{"speaker":"Jerry Fetta","startTime":320.436,"endTime":323.746,"body":"they might have owned banks and wall"},{"speaker":"Jerry Fetta","startTime":323.746,"endTime":327.166,"body":"street firms, but they didn't use"},{"speaker":"Jerry Fetta","startTime":323.746,"endTime":327.166,"body":"those products and services themselves."},{"speaker":"Jerry Fetta","startTime":327.166,"endTime":328.216,"body":"They offered it to other people."},{"speaker":"Jerry Fetta","startTime":328.221,"endTime":329.686,"body":"They did other things entirely."},{"speaker":"Jerry Fetta","startTime":329.686,"endTime":331.122,"body":"And that was where I started my trail."},{"speaker":"Jerry Fetta","startTime":331.122,"endTime":332.672,"body":"And, okay what do I need to be doing?"},{"speaker":"Jerry Fetta","startTime":332.882,"endTime":334.472,"body":"And what does the average"},{"speaker":"Jerry Fetta","startTime":332.882,"endTime":334.472,"body":"person need to be doing?"},{"speaker":"Average Joe Finances","startTime":334.685,"endTime":334.825,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":334.868,"endTime":335.801,"body":"That's a great point, man."},{"speaker":"Average Joe Finances","startTime":335.801,"endTime":338.346,"body":"It's actually so I'm doing"},{"speaker":"Average Joe Finances","startTime":335.801,"endTime":338.346,"body":"something myself right now."},{"speaker":"Average Joe Finances","startTime":338.346,"endTime":341.543,"body":"So I'm sure you know what velocity"},{"speaker":"Average Joe Finances","startTime":338.346,"endTime":341.543,"body":"banking is, but I'm doing that right now."},{"speaker":"Average Joe Finances","startTime":341.543,"endTime":344.057,"body":"I've basically turned my"},{"speaker":"Average Joe Finances","startTime":341.543,"endTime":344.057,"body":"home into my own bank."},{"speaker":"Average Joe Finances","startTime":344.088,"endTime":346.608,"body":"And I utilize a HELOC to pay off debt."},{"speaker":"Average Joe Finances","startTime":346.608,"endTime":349.008,"body":"To pay off, pay down my"},{"speaker":"Average Joe Finances","startTime":346.608,"endTime":349.008,"body":"mortgage a little earlier."},{"speaker":"Average Joe Finances","startTime":349.008,"endTime":351.678,"body":"And I've even used it to invest"},{"speaker":"Average Joe Finances","startTime":349.008,"endTime":351.678,"body":"in some syndications as well."},{"speaker":"Average Joe Finances","startTime":352.038,"endTime":356.006,"body":"So there's this versatile"},{"speaker":"Average Joe Finances","startTime":352.038,"endTime":356.006,"body":"use that I have with it which"},{"speaker":"Average Joe Finances","startTime":356.006,"endTime":357.356,"body":"has just been pretty awesome."},{"speaker":"Average Joe Finances","startTime":357.381,"endTime":359.811,"body":"I would've never thought"},{"speaker":"Average Joe Finances","startTime":357.381,"endTime":359.811,"body":"to do something like this."},{"speaker":"Average Joe Finances","startTime":359.811,"endTime":363.694,"body":"If I would've stuck with this mainstream"},{"speaker":"Average Joe Finances","startTime":359.811,"endTime":363.694,"body":"way of thinking that oh, I need to save"},{"speaker":"Average Joe Finances","startTime":363.694,"endTime":368.994,"body":"up this money and then I need to invest"},{"speaker":"Average Joe Finances","startTime":363.694,"endTime":368.994,"body":"it into some, index funds and something"},{"speaker":"Average Joe Finances","startTime":368.999,"endTime":371.184,"body":"safe so that I can retire when I'm 65."},{"speaker":"Average Joe Finances","startTime":371.729,"endTime":374.167,"body":"Man 65 that's too old for me, man."},{"speaker":"Average Joe Finances","startTime":374.195,"endTime":376.378,"body":"I need to reach financial"},{"speaker":"Average Joe Finances","startTime":374.195,"endTime":376.378,"body":"independence way before that."},{"speaker":"Average Joe Finances","startTime":376.378,"endTime":377.998,"body":"So what are some ways to do that?"},{"speaker":"Average Joe Finances","startTime":378.238,"endTime":381.478,"body":"And that's when I started looking"},{"speaker":"Average Joe Finances","startTime":378.238,"endTime":381.478,"body":"into all these different alternative"},{"speaker":"Average Joe Finances","startTime":381.483,"endTime":382.746,"body":"methods of wealth building."},{"speaker":"Average Joe Finances","startTime":382.767,"endTime":384.066,"body":"Can we talk about that a little bit?"},{"speaker":"Average Joe Finances","startTime":384.13,"endTime":386.29,"body":"What are some strategies"},{"speaker":"Average Joe Finances","startTime":384.13,"endTime":386.29,"body":"that you focus on now?"},{"speaker":"Average Joe Finances","startTime":386.3,"endTime":389.99,"body":"cuz you know, when you said you were"},{"speaker":"Average Joe Finances","startTime":386.3,"endTime":389.99,"body":"endorsed by Dave Ramsey back in the"},{"speaker":"Average Joe Finances","startTime":389.99,"endTime":393.456,"body":"day, then you know, that kind of, this"},{"speaker":"Average Joe Finances","startTime":389.99,"endTime":393.456,"body":"is like two different worlds, right?"},{"speaker":"Average Joe Finances","startTime":393.456,"endTime":396.675,"body":"Because he's all about Hey, pay off debt,"},{"speaker":"Average Joe Finances","startTime":393.456,"endTime":396.675,"body":"stay outta debt, stay away from debt."},{"speaker":"Average Joe Finances","startTime":396.706,"endTime":397.426,"body":"And that's it."},{"speaker":"Average Joe Finances","startTime":397.426,"endTime":400.476,"body":"So it sounds like you're on the"},{"speaker":"Average Joe Finances","startTime":397.426,"endTime":400.476,"body":"other side of the fence now where you"},{"speaker":"Average Joe Finances","startTime":400.481,"endTime":403.048,"body":"utilize debt as a way to mitigate."},{"speaker":"Average Joe Finances","startTime":403.086,"endTime":405.639,"body":"And use it or leverage it"},{"speaker":"Average Joe Finances","startTime":403.086,"endTime":405.639,"body":"right to your advantage."},{"speaker":"Average Joe Finances","startTime":405.639,"endTime":407.902,"body":"Can you share with us like some"},{"speaker":"Average Joe Finances","startTime":405.639,"endTime":407.902,"body":"of the strategies that you do?"},{"speaker":"Jerry Fetta","startTime":408.892,"endTime":409.612,"body":"Yeah, for sure."},{"speaker":"Jerry Fetta","startTime":409.64,"endTime":412.512,"body":"So it really is you've got the"},{"speaker":"Jerry Fetta","startTime":409.64,"endTime":412.512,"body":"Star Wars stuff in the background."},{"speaker":"Jerry Fetta","startTime":412.517,"endTime":414.562,"body":"It's like going to the dark"},{"speaker":"Jerry Fetta","startTime":412.517,"endTime":414.562,"body":"side, going from Dave of over"},{"speaker":"Jerry Fetta","startTime":414.562,"endTime":415.912,"body":"to the dark side of the forest."},{"speaker":"Average Joe Finances","startTime":416.352,"endTime":416.842,"body":"I love it."},{"speaker":"Average Joe Finances","startTime":417.272,"endTime":417.762,"body":"I love it."},{"speaker":"Jerry Fetta","startTime":418.672,"endTime":419.272,"body":"Exactly."},{"speaker":"Jerry Fetta","startTime":419.272,"endTime":421.89,"body":"So I did a lot of that"},{"speaker":"Jerry Fetta","startTime":419.272,"endTime":421.89,"body":"stuff for many years."},{"speaker":"Jerry Fetta","startTime":421.984,"endTime":426.079,"body":"The strategies that I use now are they"},{"speaker":"Jerry Fetta","startTime":421.984,"endTime":426.079,"body":"almost all fly in the face of that."},{"speaker":"Jerry Fetta","startTime":426.569,"endTime":429.919,"body":"And it's not even intentional where it's"},{"speaker":"Jerry Fetta","startTime":426.569,"endTime":429.919,"body":"like, Hey, I'm intentionally gonna do"},{"speaker":"Jerry Fetta","startTime":429.919,"endTime":431.299,"body":"opposite of all the things I learned."},{"speaker":"Jerry Fetta","startTime":431.299,"endTime":434.939,"body":"It was again, studying and seeing this"},{"speaker":"Jerry Fetta","startTime":431.299,"endTime":434.939,"body":"is actually what the wealthy are doing."},{"speaker":"Jerry Fetta","startTime":434.969,"endTime":438.758,"body":"So one of the big concepts that I"},{"speaker":"Jerry Fetta","startTime":434.969,"endTime":438.758,"body":"use is actually ironically using"},{"speaker":"Jerry Fetta","startTime":438.758,"endTime":440.198,"body":"whole life insurance as a bank."},{"speaker":"Jerry Fetta","startTime":440.263,"endTime":442.753,"body":"Back in my Dave days, the whole"},{"speaker":"Jerry Fetta","startTime":440.263,"endTime":442.753,"body":"life shirts was the devil."},{"speaker":"Jerry Fetta","startTime":442.813,"endTime":445.961,"body":"If you've ever seen water boy, mama"},{"speaker":"Jerry Fetta","startTime":442.813,"endTime":445.961,"body":"says whole life insurance, Dave says"},{"speaker":"Jerry Fetta","startTime":445.961,"endTime":447.281,"body":"whole life insurance is the devil."},{"speaker":"Average Joe Finances","startTime":447.341,"endTime":448.211,"body":"So it's like foosball"},{"speaker":"Jerry Fetta","startTime":448.261,"endTime":448.891,"body":"Exactly."},{"speaker":"Jerry Fetta","startTime":448.891,"endTime":450.536,"body":"So I use that regularly now."},{"speaker":"Jerry Fetta","startTime":450.557,"endTime":452.927,"body":"I do a lot of investing"},{"speaker":"Jerry Fetta","startTime":450.557,"endTime":452.927,"body":"for passive income."},{"speaker":"Jerry Fetta","startTime":452.927,"endTime":455.567,"body":"I'm very big on private"},{"speaker":"Jerry Fetta","startTime":452.927,"endTime":455.567,"body":"lending and seller finance."},{"speaker":"Jerry Fetta","startTime":455.634,"endTime":457.891,"body":"And again, when I look at the"},{"speaker":"Jerry Fetta","startTime":455.634,"endTime":457.891,"body":"wealthiest, some of the wealthiest"},{"speaker":"Jerry Fetta","startTime":457.951,"endTime":459.601,"body":"out there are banks and bankers."},{"speaker":"Jerry Fetta","startTime":460.216,"endTime":462.337,"body":"So I just look at how many"},{"speaker":"Jerry Fetta","startTime":460.216,"endTime":462.337,"body":"loans do they have out there?"},{"speaker":"Jerry Fetta","startTime":462.337,"endTime":464.527,"body":"And those are all truly"},{"speaker":"Jerry Fetta","startTime":462.337,"endTime":464.527,"body":"passive income sources."},{"speaker":"Jerry Fetta","startTime":464.527,"endTime":465.707,"body":"And so I'm really big on that."},{"speaker":"Jerry Fetta","startTime":465.717,"endTime":467.397,"body":"I love the HELOC strategy."},{"speaker":"Jerry Fetta","startTime":467.397,"endTime":469.807,"body":"I also do a lot of buying gold and silver."},{"speaker":"Jerry Fetta","startTime":470.037,"endTime":473.487,"body":"Similarly, you can collateralize that"},{"speaker":"Jerry Fetta","startTime":470.037,"endTime":473.487,"body":"as an asset and borrow against that too."},{"speaker":"Jerry Fetta","startTime":473.567,"endTime":476.422,"body":"And so I'm always looking at, A, I"},{"speaker":"Jerry Fetta","startTime":473.567,"endTime":476.422,"body":"want to earn a lot of income B I wanna"},{"speaker":"Jerry Fetta","startTime":476.427,"endTime":481.252,"body":"store it in real assets, real stores"},{"speaker":"Jerry Fetta","startTime":476.427,"endTime":481.252,"body":"of value, but C if I can, I want to"},{"speaker":"Jerry Fetta","startTime":481.252,"endTime":485.117,"body":"collateralize against those assets and"},{"speaker":"Jerry Fetta","startTime":481.252,"endTime":485.117,"body":"invest those in immediate, truly passive"},{"speaker":"Jerry Fetta","startTime":485.117,"endTime":487.157,"body":"income sources so I can double dip."},{"speaker":"Jerry Fetta","startTime":487.157,"endTime":490.187,"body":"I wanna earn interest on the store"},{"speaker":"Jerry Fetta","startTime":487.157,"endTime":490.187,"body":"of value, the asset, and also the"},{"speaker":"Jerry Fetta","startTime":490.187,"endTime":493.122,"body":"thing I'm investing for and not"},{"speaker":"Jerry Fetta","startTime":490.187,"endTime":493.122,"body":"have to pay the taxes on that loan."},{"speaker":"Average Joe Finances","startTime":494.547,"endTime":495.655,"body":"Yeah that's fantastic."},{"speaker":"Average Joe Finances","startTime":495.688,"endTime":496.91,"body":"And a great way to look at it too."},{"speaker":"Average Joe Finances","startTime":496.91,"endTime":498.326,"body":"I love the term that you use there, right?"},{"speaker":"Average Joe Finances","startTime":498.326,"endTime":499.286,"body":"Where you double dip."},{"speaker":"Average Joe Finances","startTime":499.406,"endTime":501.731,"body":"And I know a lot of people"},{"speaker":"Average Joe Finances","startTime":499.406,"endTime":501.731,"body":"that do the infinite banking"},{"speaker":"Average Joe Finances","startTime":501.731,"endTime":503.111,"body":"strategy with life insurance."},{"speaker":"Average Joe Finances","startTime":503.142,"endTime":505.934,"body":"And that's one of the beautiful things"},{"speaker":"Average Joe Finances","startTime":503.142,"endTime":505.934,"body":"about, being able to borrow from"},{"speaker":"Average Joe Finances","startTime":505.934,"endTime":510.494,"body":"this policy while it's still gaining"},{"speaker":"Average Joe Finances","startTime":505.934,"endTime":510.494,"body":"interest and invest that money into"},{"speaker":"Average Joe Finances","startTime":510.494,"endTime":514.609,"body":"another cashflow producing asset, that's"},{"speaker":"Average Joe Finances","startTime":510.494,"endTime":514.609,"body":"gonna create more passive income and"},{"speaker":"Average Joe Finances","startTime":514.614,"endTime":518.599,"body":"now you get that double dip effect,"},{"speaker":"Average Joe Finances","startTime":514.614,"endTime":518.599,"body":"which is just absolutely awesome, man."},{"speaker":"Average Joe Finances","startTime":518.62,"endTime":522.056,"body":"Now I'm curious because I haven't"},{"speaker":"Average Joe Finances","startTime":518.62,"endTime":522.056,"body":"heard too much about people"},{"speaker":"Average Joe Finances","startTime":522.196,"endTime":523.646,"body":"doing that with gold and silver."},{"speaker":"Average Joe Finances","startTime":523.646,"endTime":527.79,"body":"So are you're buying like actual"},{"speaker":"Average Joe Finances","startTime":523.646,"endTime":527.79,"body":"physical assets of gold and silver"},{"speaker":"Average Joe Finances","startTime":527.79,"endTime":529.11,"body":"and then borrowing against that."},{"speaker":"Average Joe Finances","startTime":529.11,"endTime":529.979,"body":"Like how does that work?"},{"speaker":"Jerry Fetta","startTime":530.749,"endTime":531.119,"body":"Yeah."},{"speaker":"Jerry Fetta","startTime":531.119,"endTime":533.413,"body":"So this was one that was it"},{"speaker":"Jerry Fetta","startTime":531.119,"endTime":533.413,"body":"was a very similar concept."},{"speaker":"Jerry Fetta","startTime":533.413,"endTime":535.273,"body":"When I was starting to research,"},{"speaker":"Jerry Fetta","startTime":533.413,"endTime":535.273,"body":"what are the wealth you do?"},{"speaker":"Jerry Fetta","startTime":535.273,"endTime":539.144,"body":"One of the stats that I saw was that the"},{"speaker":"Jerry Fetta","startTime":535.273,"endTime":539.144,"body":"United States Central Bank, The Federal"},{"speaker":"Jerry Fetta","startTime":539.144,"endTime":543.4,"body":"Reserve Bank, they still own like the"},{"speaker":"Jerry Fetta","startTime":539.144,"endTime":543.4,"body":"majority of the gold in the entire globe."},{"speaker":"Jerry Fetta","startTime":543.4,"endTime":546.708,"body":"So they have almost half a"},{"speaker":"Jerry Fetta","startTime":543.4,"endTime":546.708,"body":"trillion ounces or sorry, half a"},{"speaker":"Jerry Fetta","startTime":546.713,"endTime":547.968,"body":"trillion dollars worth of gold."},{"speaker":"Jerry Fetta","startTime":547.968,"endTime":550.128,"body":"It's about 216 million ounces."},{"speaker":"Jerry Fetta","startTime":550.204,"endTime":552.184,"body":"And so they have that as a store of value."},{"speaker":"Jerry Fetta","startTime":552.184,"endTime":554.194,"body":"They do things like"},{"speaker":"Jerry Fetta","startTime":552.184,"endTime":554.194,"body":"leasing it out to others."},{"speaker":"Jerry Fetta","startTime":554.374,"endTime":556.235,"body":"And so when I started looking"},{"speaker":"Jerry Fetta","startTime":554.374,"endTime":556.235,"body":"at this I realized you can"},{"speaker":"Jerry Fetta","startTime":556.235,"endTime":557.405,"body":"actually borrow against gold."},{"speaker":"Jerry Fetta","startTime":557.405,"endTime":558.684,"body":"You can do a collateralized loan."},{"speaker":"Jerry Fetta","startTime":558.715,"endTime":561.385,"body":"There's certain banks you've gotta"},{"speaker":"Jerry Fetta","startTime":558.715,"endTime":561.385,"body":"do this with, but you can usually"},{"speaker":"Jerry Fetta","startTime":561.385,"endTime":563.735,"body":"borrow about 75% of your value."},{"speaker":"Jerry Fetta","startTime":563.741,"endTime":565.841,"body":"The interest is very"},{"speaker":"Jerry Fetta","startTime":563.741,"endTime":565.841,"body":"similar to life insurance."},{"speaker":"Jerry Fetta","startTime":565.991,"endTime":567.631,"body":"It's about 5 or 6% interest."},{"speaker":"Jerry Fetta","startTime":567.668,"endTime":571.353,"body":"Over the long haul, I know my gold is"},{"speaker":"Jerry Fetta","startTime":567.668,"endTime":571.353,"body":"gonna appreciate at 8 to 10% a year,"},{"speaker":"Jerry Fetta","startTime":571.383,"endTime":574.773,"body":"it's been doing that since the 1970s,"},{"speaker":"Jerry Fetta","startTime":571.383,"endTime":574.773,"body":"when it became legal to own again."},{"speaker":"Jerry Fetta","startTime":575.043,"endTime":578.518,"body":"So I can really do that same arbitrage"},{"speaker":"Jerry Fetta","startTime":575.043,"endTime":578.518,"body":"play, borrow against the gold and"},{"speaker":"Jerry Fetta","startTime":578.758,"endTime":582.178,"body":"what I like to do is when I do that"},{"speaker":"Jerry Fetta","startTime":578.758,"endTime":582.178,"body":"deal, so I borrow against it and"},{"speaker":"Jerry Fetta","startTime":582.207,"endTime":583.737,"body":"I invest it for passive income."},{"speaker":"Jerry Fetta","startTime":584.157,"endTime":587.137,"body":"I'm usually gonna save that"},{"speaker":"Jerry Fetta","startTime":584.157,"endTime":587.137,"body":"passive income anyways."},{"speaker":"Jerry Fetta","startTime":587.832,"endTime":590.502,"body":"And I'm gonna accrue it until"},{"speaker":"Jerry Fetta","startTime":587.832,"endTime":590.502,"body":"I can do another investment."},{"speaker":"Jerry Fetta","startTime":590.502,"endTime":594.018,"body":"So I go ahead and I de-leverage, I"},{"speaker":"Jerry Fetta","startTime":590.502,"endTime":594.018,"body":"pay my line of credit directly, like a"},{"speaker":"Jerry Fetta","startTime":594.018,"endTime":597.918,"body":"checking account, and then it pulls that"},{"speaker":"Jerry Fetta","startTime":594.018,"endTime":597.918,"body":"loan value down the gold appreciates."},{"speaker":"Jerry Fetta","startTime":597.918,"endTime":599.718,"body":"And then I can do another"},{"speaker":"Jerry Fetta","startTime":597.918,"endTime":599.718,"body":"deal that much faster."},{"speaker":"Average Joe Finances","startTime":599.774,"endTime":601.417,"body":"That's like"},{"speaker":"Average Joe Finances","startTime":599.774,"endTime":601.417,"body":"exactly what I'm doing with the HELOC"},{"speaker":"Average Joe Finances","startTime":601.417,"endTime":602.717,"body":"right now, too, which is awesome."},{"speaker":"Jerry Fetta","startTime":602.717,"endTime":603.72,"body":"Yeah, same concept."},{"speaker":"Jerry Fetta","startTime":603.72,"endTime":606.427,"body":"So I call those tier two and tier"},{"speaker":"Jerry Fetta","startTime":603.72,"endTime":606.427,"body":"three it's the tier one is the"},{"speaker":"Jerry Fetta","startTime":606.427,"endTime":609.557,"body":"life insurance tier two is the"},{"speaker":"Jerry Fetta","startTime":606.427,"endTime":609.557,"body":"gold and tier three is the HELOC."},{"speaker":"Average Joe Finances","startTime":610.027,"endTime":611.197,"body":"Yeah, that's awesome."},{"speaker":"Average Joe Finances","startTime":611.197,"endTime":613.867,"body":"And so with gold, you're saying"},{"speaker":"Average Joe Finances","startTime":611.197,"endTime":613.867,"body":"like most the lenders that will do"},{"speaker":"Average Joe Finances","startTime":613.867,"endTime":616.998,"body":"it for you, they say it's around"},{"speaker":"Average Joe Finances","startTime":613.867,"endTime":616.998,"body":"75%, of the value of the gold."},{"speaker":"Average Joe Finances","startTime":617.268,"endTime":621.293,"body":"But the funny thing is like, when you"},{"speaker":"Average Joe Finances","startTime":617.268,"endTime":621.293,"body":"look at other ways I know M1 finance"},{"speaker":"Average Joe Finances","startTime":621.316,"endTime":625.404,"body":"will let you borrow against your"},{"speaker":"Average Joe Finances","startTime":621.316,"endTime":625.404,"body":"paper assets that you have in stocks."},{"speaker":"Average Joe Finances","startTime":625.433,"endTime":627.323,"body":"And I think they let you go up to 80%."},{"speaker":"Average Joe Finances","startTime":627.337,"endTime":628.309,"body":"Oh no, maybe it's less than that."},{"speaker":"Average Joe Finances","startTime":628.309,"endTime":629.438,"body":"Maybe it's 60%."},{"speaker":"Average Joe Finances","startTime":629.588,"endTime":633.16,"body":"So you have a 40% buffer, but when you"},{"speaker":"Average Joe Finances","startTime":629.588,"endTime":633.16,"body":"think about it,  if you could borrow up"},{"speaker":"Average Joe Finances","startTime":633.165,"endTime":638.5,"body":"to 75% on the value of what you have in"},{"speaker":"Average Joe Finances","startTime":633.165,"endTime":638.5,"body":"gold, that you still have that 25% buffer"},{"speaker":"Average Joe Finances","startTime":638.5,"endTime":645.115,"body":"and I can't remember the last time I've"},{"speaker":"Average Joe Finances","startTime":638.5,"endTime":645.115,"body":"seen gold really drop in value, 25%."},{"speaker":"Average Joe Finances","startTime":645.145,"endTime":648.745,"body":"So yeah, it keeps you in a pretty"},{"speaker":"Average Joe Finances","startTime":645.145,"endTime":648.745,"body":"safe spot that if something was"},{"speaker":"Average Joe Finances","startTime":648.745,"endTime":652.358,"body":"to happen, that you can always"},{"speaker":"Average Joe Finances","startTime":648.745,"endTime":652.358,"body":"cash that out if you needed to."},{"speaker":"Average Joe Finances","startTime":652.453,"endTime":655.527,"body":"So that's a pretty interesting way"},{"speaker":"Average Joe Finances","startTime":652.453,"endTime":655.527,"body":"to do it versus For example, like"},{"speaker":"Average Joe Finances","startTime":655.527,"endTime":658.287,"body":"the way I'm doing it with the HELOC,"},{"speaker":"Average Joe Finances","startTime":655.527,"endTime":658.287,"body":"my home can go down and value."},{"speaker":"Average Joe Finances","startTime":658.301,"endTime":662.183,"body":"It's not likely that it's gonna be"},{"speaker":"Average Joe Finances","startTime":658.301,"endTime":662.183,"body":"something crazy, like 2008, but it's very"},{"speaker":"Average Joe Finances","startTime":662.183,"endTime":663.953,"body":"possible that it can go down and value."},{"speaker":"Average Joe Finances","startTime":664.026,"endTime":666.622,"body":"So, it depends on how safe you wanna be."},{"speaker":"Average Joe Finances","startTime":666.742,"endTime":671.535,"body":"So I only took out maybe one fourth of"},{"speaker":"Average Joe Finances","startTime":666.742,"endTime":671.535,"body":"what I was eligible to take out when"},{"speaker":"Average Joe Finances","startTime":671.535,"endTime":673.304,"body":"it comes to the equity on my home."},{"speaker":"Average Joe Finances","startTime":673.357,"endTime":675.457,"body":"It's just one of those things I"},{"speaker":"Average Joe Finances","startTime":673.357,"endTime":675.457,"body":"wanted to play it safe, but at the"},{"speaker":"Average Joe Finances","startTime":675.462,"endTime":678.653,"body":"same time, it gave me enough that I"},{"speaker":"Average Joe Finances","startTime":675.462,"endTime":678.653,"body":"could do what I wanted to do with it."},{"speaker":"Average Joe Finances","startTime":678.671,"endTime":682.422,"body":"So that's it's very interesting"},{"speaker":"Average Joe Finances","startTime":678.671,"endTime":682.422,"body":"that with gold, I'll let you do 75%."},{"speaker":"Average Joe Finances","startTime":682.812,"endTime":685.242,"body":"Now, you had mentioned silver as well."},{"speaker":"Average Joe Finances","startTime":685.242,"endTime":689.485,"body":"So is silver more of a, you're just buying"},{"speaker":"Average Joe Finances","startTime":685.242,"endTime":689.485,"body":"and holding silver because the way I look"},{"speaker":"Average Joe Finances","startTime":689.485,"endTime":695.6,"body":"at it, silver in the future might be well,"},{"speaker":"Average Joe Finances","startTime":689.485,"endTime":695.6,"body":"not be worth more than gold, but the uses"},{"speaker":"Average Joe Finances","startTime":695.6,"endTime":698.193,"body":"for silver are outweigh the uses for gold."},{"speaker":"Average Joe Finances","startTime":698.244,"endTime":700.284,"body":"Gold is nice, it's for jewelry."},{"speaker":"Average Joe Finances","startTime":700.524,"endTime":702.564,"body":"You don't see it too much in technology."},{"speaker":"Average Joe Finances","startTime":702.564,"endTime":706.01,"body":"Silver is used for so many things"},{"speaker":"Average Joe Finances","startTime":702.564,"endTime":706.01,"body":"because of its it's very good."},{"speaker":"Average Joe Finances","startTime":706.01,"endTime":708.46,"body":"It's a very good conductor"},{"speaker":"Average Joe Finances","startTime":706.01,"endTime":708.46,"body":"of electricity, right?"},{"speaker":"Average Joe Finances","startTime":708.46,"endTime":711.68,"body":"So you see in a lot of phones and"},{"speaker":"Average Joe Finances","startTime":708.46,"endTime":711.68,"body":"other electronics and things like that."},{"speaker":"Average Joe Finances","startTime":711.694,"endTime":715.056,"body":"Where do you see using silver"},{"speaker":"Average Joe Finances","startTime":711.694,"endTime":715.056,"body":"as a hedge against inflation?"},{"speaker":"Jerry Fetta","startTime":716.271,"endTime":717.261,"body":"Yeah, that's a great point."},{"speaker":"Jerry Fetta","startTime":717.261,"endTime":718.731,"body":"So I do own a little bit of silver."},{"speaker":"Jerry Fetta","startTime":718.79,"endTime":722.807,"body":"So when I'm borrowing against assets,"},{"speaker":"Jerry Fetta","startTime":718.79,"endTime":722.807,"body":"there's three key metrics that I look at."},{"speaker":"Jerry Fetta","startTime":722.816,"endTime":725.834,"body":"The first one is against, the"},{"speaker":"Jerry Fetta","startTime":722.816,"endTime":725.834,"body":"asset I'm borrowing against itself."},{"speaker":"Jerry Fetta","startTime":725.834,"endTime":727.734,"body":"What's the compounding annual growth rate?"},{"speaker":"Jerry Fetta","startTime":727.755,"endTime":730.065,"body":"So that's gonna tell me on"},{"speaker":"Jerry Fetta","startTime":727.755,"endTime":730.065,"body":"average what can I expect."},{"speaker":"Jerry Fetta","startTime":730.109,"endTime":732.909,"body":"The other stat that I look"},{"speaker":"Jerry Fetta","startTime":730.109,"endTime":732.909,"body":"at is the standard deviation."},{"speaker":"Jerry Fetta","startTime":733.539,"endTime":737.319,"body":"So how far above or below that average"},{"speaker":"Jerry Fetta","startTime":733.539,"endTime":737.319,"body":"number could the pendulum swing?"},{"speaker":"Jerry Fetta","startTime":737.349,"endTime":739.269,"body":"And then the third one is"},{"speaker":"Jerry Fetta","startTime":737.349,"endTime":739.269,"body":"called the max drawdown."},{"speaker":"Jerry Fetta","startTime":739.269,"endTime":740.611,"body":"What's the worst year it's ever had?"},{"speaker":"Jerry Fetta","startTime":740.626,"endTime":745.296,"body":"And so gold and silver, you can both"},{"speaker":"Jerry Fetta","startTime":740.626,"endTime":745.296,"body":"borrow against same loan to value 75%."},{"speaker":"Jerry Fetta","startTime":745.296,"endTime":747.769,"body":"The compounding annual"},{"speaker":"Jerry Fetta","startTime":745.296,"endTime":747.769,"body":"growth rate is very similar."},{"speaker":"Jerry Fetta","startTime":747.799,"endTime":750.403,"body":"They're both, between 8"},{"speaker":"Jerry Fetta","startTime":747.799,"endTime":750.403,"body":"and 10% over the long term."},{"speaker":"Jerry Fetta","startTime":750.412,"endTime":752.332,"body":"And I tell people if you're gonna"},{"speaker":"Jerry Fetta","startTime":750.412,"endTime":752.332,"body":"buy these, if you're not gonna hold"},{"speaker":"Jerry Fetta","startTime":752.332,"endTime":753.472,"body":"them for five years, don't even."},{"speaker":"Jerry Fetta","startTime":753.534,"endTime":756.377,"body":"There's just too much cost involved"},{"speaker":"Jerry Fetta","startTime":753.534,"endTime":756.377,"body":"and it's a real physical thing that"},{"speaker":"Jerry Fetta","startTime":756.377,"endTime":757.767,"body":"you wanna hold onto for a while."},{"speaker":"Jerry Fetta","startTime":757.789,"endTime":760.909,"body":"The standard deviation on silver is"},{"speaker":"Jerry Fetta","startTime":757.789,"endTime":760.909,"body":"where the main difference happens."},{"speaker":"Jerry Fetta","startTime":760.956,"endTime":766.111,"body":"It's got about a 25% standard deviation,"},{"speaker":"Jerry Fetta","startTime":760.956,"endTime":766.111,"body":"whereas gold is only about 15."},{"speaker":"Jerry Fetta","startTime":766.201,"endTime":769.959,"body":"And that means if I borrow my margin"},{"speaker":"Jerry Fetta","startTime":766.201,"endTime":769.959,"body":"call risk is a lot higher, if it drops"},{"speaker":"Jerry Fetta","startTime":769.964,"endTime":774.373,"body":"down and my loan is now higher number"},{"speaker":"Jerry Fetta","startTime":769.964,"endTime":774.373,"body":"than my actual value, I've either gotta"},{"speaker":"Jerry Fetta","startTime":774.373,"endTime":777.983,"body":"buy more silver or I've gotta pay that"},{"speaker":"Jerry Fetta","startTime":774.373,"endTime":777.983,"body":"loan down in order to get it corrected."},{"speaker":"Jerry Fetta","startTime":778.006,"endTime":779.781,"body":"And so there's more risk"},{"speaker":"Jerry Fetta","startTime":778.006,"endTime":779.781,"body":"of that with silver."},{"speaker":"Jerry Fetta","startTime":779.792,"endTime":781.62,"body":"So I like silver as a hedge."},{"speaker":"Jerry Fetta","startTime":781.625,"endTime":785.214,"body":"It does have the benefit of that deviation"},{"speaker":"Jerry Fetta","startTime":781.625,"endTime":785.214,"body":"is the upswing is the same, right?"},{"speaker":"Jerry Fetta","startTime":785.214,"endTime":789.463,"body":"So silver could go from 20 to 48 an ounce"},{"speaker":"Jerry Fetta","startTime":785.214,"endTime":789.463,"body":"and it's gonna double in some cases like"},{"speaker":"Jerry Fetta","startTime":789.463,"endTime":790.873,"body":"that and I could take advantage of that."},{"speaker":"Jerry Fetta","startTime":791.233,"endTime":794.683,"body":"With gold we're not gonna see it in a"},{"speaker":"Jerry Fetta","startTime":791.233,"endTime":794.683,"body":"year, go from 2000 to 4000, it's gonna"},{"speaker":"Jerry Fetta","startTime":794.683,"endTime":797.383,"body":"be a slower, more steady increase."},{"speaker":"Jerry Fetta","startTime":797.464,"endTime":798.443,"body":"So that's where I see that."},{"speaker":"Jerry Fetta","startTime":798.443,"endTime":801.223,"body":"But one unique thing that I didn't"},{"speaker":"Jerry Fetta","startTime":798.443,"endTime":801.223,"body":"know until I started studying"},{"speaker":"Jerry Fetta","startTime":801.223,"endTime":804.673,"body":"this years ago, silver is actually"},{"speaker":"Jerry Fetta","startTime":801.223,"endTime":804.673,"body":"a byproduct of gold mining."},{"speaker":"Jerry Fetta","startTime":805.563,"endTime":808.203,"body":"So you can't have silver"},{"speaker":"Jerry Fetta","startTime":805.563,"endTime":808.203,"body":"without first mining gold."},{"speaker":"Jerry Fetta","startTime":808.203,"endTime":810.14,"body":"It's with milk, you get way from milk."},{"speaker":"Jerry Fetta","startTime":810.62,"endTime":812.72,"body":"And so that's the same"},{"speaker":"Jerry Fetta","startTime":810.62,"endTime":812.72,"body":"kind of refining process."},{"speaker":"Jerry Fetta","startTime":812.72,"endTime":814.52,"body":"Silver comes outta that refining process."},{"speaker":"Jerry Fetta","startTime":814.52,"endTime":818.182,"body":"So they're gonna go hand in hand,"},{"speaker":"Jerry Fetta","startTime":814.52,"endTime":818.182,"body":"but the big thing I look at there is"},{"speaker":"Jerry Fetta","startTime":818.182,"endTime":821.752,"body":"even just as a store of value, Mike,"},{"speaker":"Jerry Fetta","startTime":818.182,"endTime":821.752,"body":"there's only enough golden existence for"},{"speaker":"Jerry Fetta","startTime":821.752,"endTime":823.372,"body":"everyone on the planet to own one ounce."},{"speaker":"Jerry Fetta","startTime":823.912,"endTime":826.132,"body":"There's only enough silver in"},{"speaker":"Jerry Fetta","startTime":823.912,"endTime":826.132,"body":"existence for everyone on the"},{"speaker":"Jerry Fetta","startTime":826.132,"endTime":827.222,"body":"planet to own eight ounces."},{"speaker":"Jerry Fetta","startTime":827.222,"endTime":829.97,"body":"That just shows you the scarcity"},{"speaker":"Jerry Fetta","startTime":827.222,"endTime":829.97,"body":"behind both of those assets."},{"speaker":"Jerry Fetta","startTime":829.97,"endTime":832.01,"body":"And like you said, the"},{"speaker":"Jerry Fetta","startTime":829.97,"endTime":832.01,"body":"uses continue to grow."},{"speaker":"Jerry Fetta","startTime":832.22,"endTime":834.86,"body":"I just saw an article the other day,"},{"speaker":"Jerry Fetta","startTime":832.22,"endTime":834.86,"body":"they're using gold to cure cancer now."},{"speaker":"Jerry Fetta","startTime":834.86,"endTime":838.64,"body":"If you inject the cancer cells with"},{"speaker":"Jerry Fetta","startTime":834.86,"endTime":838.64,"body":"gold, it kills it off like chemo does"},{"speaker":"Jerry Fetta","startTime":838.64,"endTime":840.11,"body":"without any of the risks of chemo."},{"speaker":"Jerry Fetta","startTime":840.142,"endTime":842.994,"body":"With silver, Tesla is gonna be using"},{"speaker":"Jerry Fetta","startTime":840.142,"endTime":842.994,"body":"a ton of silver for their cars."},{"speaker":"Jerry Fetta","startTime":842.999,"endTime":844.164,"body":"So the demand is definitely there."},{"speaker":"Average Joe Finances","startTime":844.521,"endTime":845.433,"body":"Yeah, that's a great point."},{"speaker":"Average Joe Finances","startTime":845.433,"endTime":849.423,"body":"I had no idea that gold could"},{"speaker":"Average Joe Finances","startTime":845.433,"endTime":849.423,"body":"possibly have some type of"},{"speaker":"Average Joe Finances","startTime":849.423,"endTime":851.073,"body":"medicinal properties to it, man."},{"speaker":"Average Joe Finances","startTime":851.169,"endTime":852.373,"body":"That's mind blowing Jerry."},{"speaker":"Jerry Fetta","startTime":853.243,"endTime":853.693,"body":"It is."},{"speaker":"Jerry Fetta","startTime":853.698,"endTime":857.083,"body":"And they use it for that and they use"},{"speaker":"Jerry Fetta","startTime":853.698,"endTime":857.083,"body":"it for dentistry for a long time, too,"},{"speaker":"Jerry Fetta","startTime":857.108,"endTime":858.578,"body":"gold fillings and different things"},{"speaker":"Average Joe Finances","startTime":858.578,"endTime":859.631,"body":"Definitely seen that before."},{"speaker":"Average Joe Finances","startTime":859.631,"endTime":861.161,"body":"I grew up in New York, man, for sure."},{"speaker":"Average Joe Finances","startTime":861.816,"endTime":865.026,"body":"I saw gold fillings and gold"},{"speaker":"Average Joe Finances","startTime":861.816,"endTime":865.026,"body":"teeth all the time, for sure."},{"speaker":"Average Joe Finances","startTime":865.106,"endTime":865.976,"body":"Oh, right on, man."},{"speaker":"Average Joe Finances","startTime":865.976,"endTime":867.056,"body":"That is so cool."},{"speaker":"Average Joe Finances","startTime":867.056,"endTime":867.776,"body":"I had no idea."},{"speaker":"Average Joe Finances","startTime":868.016,"endTime":869.184,"body":"Yeah, definitely silver."},{"speaker":"Average Joe Finances","startTime":869.212,"endTime":872.647,"body":"For sure with electric car not just"},{"speaker":"Average Joe Finances","startTime":869.212,"endTime":872.647,"body":"Tesla, but just electric EVs in general."},{"speaker":"Average Joe Finances","startTime":872.655,"endTime":876.122,"body":"And they're also now with hydro fuel"},{"speaker":"Average Joe Finances","startTime":872.655,"endTime":876.122,"body":"cells that they're trying to work on"},{"speaker":"Average Joe Finances","startTime":876.122,"endTime":879.207,"body":"which is gonna be another way, but they"},{"speaker":"Average Joe Finances","startTime":876.122,"endTime":879.207,"body":"need to be able to conduct electricity"},{"speaker":"Average Joe Finances","startTime":879.207,"endTime":882.177,"body":"really well with that and what's"},{"speaker":"Average Joe Finances","startTime":879.207,"endTime":882.177,"body":"gonna be needed for that is silver."},{"speaker":"Average Joe Finances","startTime":882.477,"endTime":885.867,"body":"So if you look at a lot of the emerging"},{"speaker":"Average Joe Finances","startTime":882.477,"endTime":885.867,"body":"technologies and just the different"},{"speaker":"Average Joe Finances","startTime":885.867,"endTime":890.391,"body":"things that are happening, there's"},{"speaker":"Average Joe Finances","startTime":885.867,"endTime":890.391,"body":"so many requirements for these finite"},{"speaker":"Average Joe Finances","startTime":890.391,"endTime":895.063,"body":"resources like gold, silver, like you"},{"speaker":"Average Joe Finances","startTime":890.391,"endTime":895.063,"body":"said, Once you use it all, that's it?"},{"speaker":"Average Joe Finances","startTime":895.127,"endTime":898.722,"body":"I've heard of in the future that"},{"speaker":"Average Joe Finances","startTime":895.127,"endTime":898.722,"body":"the possibility of space exploration"},{"speaker":"Average Joe Finances","startTime":898.722,"endTime":902.682,"body":"to go mine gold and silver off of"},{"speaker":"Average Joe Finances","startTime":898.722,"endTime":902.682,"body":"asteroids, because they discovered a"},{"speaker":"Average Joe Finances","startTime":902.687,"endTime":907.193,"body":"lot of them do have those same minerals"},{"speaker":"Average Joe Finances","startTime":902.687,"endTime":907.193,"body":"and earth quality minerals on those."},{"speaker":"Average Joe Finances","startTime":907.193,"endTime":909.487,"body":"But I think we're a"},{"speaker":"Average Joe Finances","startTime":907.193,"endTime":909.487,"body":"pretty long way from that."},{"speaker":"Average Joe Finances","startTime":909.487,"endTime":912.787,"body":"Unless Elon Musk gets his way and then"},{"speaker":"Average Joe Finances","startTime":909.487,"endTime":912.787,"body":"we'll be on Mars in a couple weeks."},{"speaker":"Jerry Fetta","startTime":912.854,"endTime":916.493,"body":"And the irony behind that"},{"speaker":"Jerry Fetta","startTime":912.854,"endTime":916.493,"body":"and no, no pun intended is that in order"},{"speaker":"Jerry Fetta","startTime":916.493,"endTime":920.183,"body":"to go to space, the sheathing that they"},{"speaker":"Jerry Fetta","startTime":916.493,"endTime":920.183,"body":"put on the outside of the astronauts"},{"speaker":"Jerry Fetta","startTime":920.183,"endTime":921.863,"body":"masks is actually made out of gold."},{"speaker":"Jerry Fetta","startTime":922.943,"endTime":924.653,"body":"So you can't go to space without gold."},{"speaker":"Jerry Fetta","startTime":924.653,"endTime":927.743,"body":"You have to have that to go to space,"},{"speaker":"Jerry Fetta","startTime":924.653,"endTime":927.743,"body":"to get the gold or get the silver."},{"speaker":"Average Joe Finances","startTime":928.108,"endTime":929.731,"body":"See that's"},{"speaker":"Average Joe Finances","startTime":928.108,"endTime":929.731,"body":"all interesting stuff, man."},{"speaker":"Average Joe Finances","startTime":929.731,"endTime":930.241,"body":"Definitely."},{"speaker":"Average Joe Finances","startTime":930.371,"endTime":934.057,"body":"It's the things that you don't think about"},{"speaker":"Average Joe Finances","startTime":930.371,"endTime":934.057,"body":"that are tied so closely to these precious"},{"speaker":"Average Joe Finances","startTime":934.057,"endTime":935.527,"body":"minerals and resources that we have."},{"speaker":"Average Joe Finances","startTime":935.595,"endTime":939.358,"body":"All so I wanna touch on something"},{"speaker":"Average Joe Finances","startTime":935.595,"endTime":939.358,"body":"else that involves the top 1%,"},{"speaker":"Average Joe Finances","startTime":939.402,"endTime":942.516,"body":"and it was one of the topics that"},{"speaker":"Average Joe Finances","startTime":939.402,"endTime":942.516,"body":"you had listed for us to discuss."},{"speaker":"Average Joe Finances","startTime":942.516,"endTime":946.317,"body":"This one might be a little triggering"},{"speaker":"Average Joe Finances","startTime":942.516,"endTime":946.317,"body":"for some people, but at the same time,"},{"speaker":"Average Joe Finances","startTime":946.317,"endTime":950.207,"body":"I think it's a very important thing to"},{"speaker":"Average Joe Finances","startTime":946.317,"endTime":950.207,"body":"understand and to know, because this"},{"speaker":"Average Joe Finances","startTime":950.212,"endTime":955.497,"body":"is something I use as a strategy as"},{"speaker":"Average Joe Finances","startTime":950.212,"endTime":955.497,"body":"well, but how do you go about not paying"},{"speaker":"Average Joe Finances","startTime":955.502,"endTime":958.437,"body":"taxes or paying very little taxes?"},{"speaker":"Average Joe Finances","startTime":958.442,"endTime":961.197,"body":"I know that's one of the topics"},{"speaker":"Average Joe Finances","startTime":958.442,"endTime":961.197,"body":"that, that you want to discuss."},{"speaker":"Average Joe Finances","startTime":961.287,"endTime":964.507,"body":"And I definitely want to touch a little"},{"speaker":"Average Joe Finances","startTime":961.287,"endTime":964.507,"body":"bit more on this because the stuff that"},{"speaker":"Average Joe Finances","startTime":964.507,"endTime":968.624,"body":"we talked, there is some tax mitigating"},{"speaker":"Average Joe Finances","startTime":964.507,"endTime":968.624,"body":"there, but not as much as what I would"},{"speaker":"Average Joe Finances","startTime":968.624,"endTime":969.914,"body":"say you would get in real estate."},{"speaker":"Average Joe Finances","startTime":969.914,"endTime":971.862,"body":"So I wanted to see where"},{"speaker":"Average Joe Finances","startTime":969.914,"endTime":971.862,"body":"your mind was at with that."},{"speaker":"Jerry Fetta","startTime":972.552,"endTime":973.962,"body":"Yeah, that's a great topic."},{"speaker":"Jerry Fetta","startTime":975.312,"endTime":977.622,"body":"Like you said, it can be a little bit"},{"speaker":"Jerry Fetta","startTime":975.312,"endTime":977.622,"body":"triggering we're in an environment"},{"speaker":"Jerry Fetta","startTime":977.667,"endTime":980.35,"body":"where we have, a group that's"},{"speaker":"Jerry Fetta","startTime":977.667,"endTime":980.35,"body":"saying, Hey, we need higher taxes."},{"speaker":"Jerry Fetta","startTime":980.35,"endTime":982.451,"body":"And then we've got another group"},{"speaker":"Jerry Fetta","startTime":980.35,"endTime":982.451,"body":"saying, Hey, no let's lower"},{"speaker":"Jerry Fetta","startTime":982.451,"endTime":983.471,"body":"it or let's leave it alone."},{"speaker":"Jerry Fetta","startTime":983.508,"endTime":986.538,"body":"And you really have to take a step back"},{"speaker":"Jerry Fetta","startTime":983.508,"endTime":986.538,"body":"and you have to look at the tax code."},{"speaker":"Jerry Fetta","startTime":986.568,"endTime":990.255,"body":"So we have, if we were to put this on"},{"speaker":"Jerry Fetta","startTime":986.568,"endTime":990.255,"body":"like a chart, we have The US Treasury,"},{"speaker":"Jerry Fetta","startTime":990.585,"endTime":991.832,"body":"which is, The Federal Government."},{"speaker":"Jerry Fetta","startTime":991.832,"endTime":994.592,"body":"And then we've got the IRS, which"},{"speaker":"Jerry Fetta","startTime":991.832,"endTime":994.592,"body":"is like their collection agency."},{"speaker":"Jerry Fetta","startTime":994.892,"endTime":996.782,"body":"And then we've got The"},{"speaker":"Jerry Fetta","startTime":994.892,"endTime":996.782,"body":"Federal Reserve Bank."},{"speaker":"Jerry Fetta","startTime":996.872,"endTime":1000.853,"body":"And the tax system, a lot of the"},{"speaker":"Jerry Fetta","startTime":996.872,"endTime":1000.853,"body":"income tax that we get actually goes"},{"speaker":"Jerry Fetta","startTime":1000.853,"endTime":1004.393,"body":"to service those loans, to pay our"},{"speaker":"Jerry Fetta","startTime":1000.853,"endTime":1004.393,"body":"debt, to pay the interest on that debt."},{"speaker":"Jerry Fetta","startTime":1004.663,"endTime":1007.663,"body":"Very little of it goes to things that"},{"speaker":"Jerry Fetta","startTime":1004.663,"endTime":1007.663,"body":"we think it would go to like roads and"},{"speaker":"Jerry Fetta","startTime":1007.663,"endTime":1010.86,"body":"different things, schools, et cetera,"},{"speaker":"Jerry Fetta","startTime":1007.663,"endTime":1010.86,"body":"a lot of it's, interest on debt."},{"speaker":"Jerry Fetta","startTime":1010.86,"endTime":1013.205,"body":"There might be some, there's"},{"speaker":"Jerry Fetta","startTime":1010.86,"endTime":1013.205,"body":"a lot of more expenses."},{"speaker":"Jerry Fetta","startTime":1013.205,"endTime":1017.004,"body":"That's usually a big one and, different"},{"speaker":"Jerry Fetta","startTime":1013.205,"endTime":1017.004,"body":"costs associated, but the tax code"},{"speaker":"Jerry Fetta","startTime":1017.004,"endTime":1019.609,"body":"itself is really what we have to look at."},{"speaker":"Jerry Fetta","startTime":1019.637,"endTime":1023.027,"body":"So the code, if you look at just code,"},{"speaker":"Jerry Fetta","startTime":1019.637,"endTime":1023.027,"body":"not like the case notes and different"},{"speaker":"Jerry Fetta","startTime":1023.027,"endTime":1026.687,"body":"things, there's, I believe six or"},{"speaker":"Jerry Fetta","startTime":1023.027,"endTime":1026.687,"body":"7,000 pages of just straight code."},{"speaker":"Jerry Fetta","startTime":1026.734,"endTime":1031.781,"body":"And so that's the entirety of the"},{"speaker":"Jerry Fetta","startTime":1026.734,"endTime":1031.781,"body":"tax code only about 0.50% of that has"},{"speaker":"Jerry Fetta","startTime":1031.781,"endTime":1033.911,"body":"to do with the paying of income tax."},{"speaker":"Jerry Fetta","startTime":1033.911,"endTime":1037.571,"body":"There's only 50 or 60 pages that"},{"speaker":"Jerry Fetta","startTime":1033.911,"endTime":1037.571,"body":"say here is what you've gotta pay,"},{"speaker":"Jerry Fetta","startTime":1037.583,"endTime":1041.453,"body":"which means the rest of the code is"},{"speaker":"Jerry Fetta","startTime":1037.583,"endTime":1041.453,"body":"clarifications on ways not to pay"},{"speaker":"Jerry Fetta","startTime":1041.453,"endTime":1043.673,"body":"taxes, which is very interesting."},{"speaker":"Jerry Fetta","startTime":1043.703,"endTime":1046.021,"body":"Cause we think about taxe that we're"},{"speaker":"Jerry Fetta","startTime":1043.703,"endTime":1046.021,"body":"like why would there be a code and"},{"speaker":"Jerry Fetta","startTime":1046.021,"endTime":1048.511,"body":"the majority of it is ways to not pay."},{"speaker":"Jerry Fetta","startTime":1049.171,"endTime":1051.571,"body":"And then you have to look at"},{"speaker":"Jerry Fetta","startTime":1049.171,"endTime":1051.571,"body":"who wrote the code, right?"},{"speaker":"Jerry Fetta","startTime":1051.571,"endTime":1054.091,"body":"So the internal revenue code,"},{"speaker":"Jerry Fetta","startTime":1051.571,"endTime":1054.091,"body":"it gets passed by Congress."},{"speaker":"Jerry Fetta","startTime":1054.946,"endTime":1057.886,"body":"If you look at that net worth"},{"speaker":"Jerry Fetta","startTime":1054.946,"endTime":1057.886,"body":"of most Congress members, many"},{"speaker":"Jerry Fetta","startTime":1057.886,"endTime":1059.386,"body":"of them are in the top 1%."},{"speaker":"Jerry Fetta","startTime":1059.836,"endTime":1062.626,"body":"And then the other people that"},{"speaker":"Jerry Fetta","startTime":1059.836,"endTime":1062.626,"body":"influence the internal revenue code"},{"speaker":"Jerry Fetta","startTime":1062.626,"endTime":1065.866,"body":"is actually lobbyists and lobbyists"},{"speaker":"Jerry Fetta","startTime":1062.626,"endTime":1065.866,"body":"work for giant corporations."},{"speaker":"Jerry Fetta","startTime":1066.316,"endTime":1071.091,"body":"So the top two groups that influence"},{"speaker":"Jerry Fetta","startTime":1066.316,"endTime":1071.091,"body":"what's in the tax code are in the top 1%."},{"speaker":"Jerry Fetta","startTime":1071.121,"endTime":1073.941,"body":"They're incentivized to not have"},{"speaker":"Jerry Fetta","startTime":1071.121,"endTime":1073.941,"body":"to pay taxes on all of their"},{"speaker":"Jerry Fetta","startTime":1073.941,"endTime":1075.181,"body":"assets and all of their wealth."},{"speaker":"Jerry Fetta","startTime":1075.195,"endTime":1079.041,"body":"So the thing that I tell people is, it's"},{"speaker":"Jerry Fetta","startTime":1075.195,"endTime":1079.041,"body":"a knowledge thing I can feel triggered by"},{"speaker":"Jerry Fetta","startTime":1079.041,"endTime":1080.775,"body":"it, or I could be like, okay it's there."},{"speaker":"Jerry Fetta","startTime":1081.165,"endTime":1083.468,"body":"I just don't know something,"},{"speaker":"Jerry Fetta","startTime":1081.165,"endTime":1083.468,"body":"there's things in there that other"},{"speaker":"Jerry Fetta","startTime":1083.468,"endTime":1084.668,"body":"people know that I don't know yet."},{"speaker":"Jerry Fetta","startTime":1084.668,"endTime":1087.428,"body":"I need to find either a professional"},{"speaker":"Jerry Fetta","startTime":1084.668,"endTime":1087.428,"body":"that can help me, or I need to dive"},{"speaker":"Jerry Fetta","startTime":1087.428,"endTime":1088.898,"body":"into that code and figure it out."},{"speaker":"Jerry Fetta","startTime":1088.953,"endTime":1092.24,"body":"And that's it, there's thousands of ways"},{"speaker":"Jerry Fetta","startTime":1088.953,"endTime":1092.24,"body":"not to pay taxes and it's all in that"},{"speaker":"Jerry Fetta","startTime":1092.24,"endTime":1095.834,"body":"code, it's all legal and it's mind blowing"},{"speaker":"Jerry Fetta","startTime":1092.24,"endTime":1095.834,"body":"when you see some of the stuff out there."},{"speaker":"Average Joe Finances","startTime":1096.082,"endTime":1096.982,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":1097.003,"endTime":1099.94,"body":"It's funny cuz I recently"},{"speaker":"Average Joe Finances","startTime":1097.003,"endTime":1099.94,"body":"was just audited by the IRS."},{"speaker":"Average Joe Finances","startTime":1099.97,"endTime":1104.018,"body":"It was actually on my 2020 tax return and"},{"speaker":"Jerry Fetta","startTime":1104.018,"endTime":1105.458,"body":"yeah,"},{"speaker":"Jerry Fetta","startTime":1104.018,"endTime":1105.458,"body":"congratulations by the way."},{"speaker":"Average Joe Finances","startTime":1105.908,"endTime":1106.478,"body":"Oh, thanks."},{"speaker":"Average Joe Finances","startTime":1106.838,"endTime":1107.275,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1107.316,"endTime":1110.599,"body":"Yeah, but the thing was, and I"},{"speaker":"Average Joe Finances","startTime":1107.316,"endTime":1110.599,"body":"didn't expect this, but they actually"},{"speaker":"Average Joe Finances","startTime":1110.599,"endTime":1114.619,"body":"owed me money and they sent me a"},{"speaker":"Average Joe Finances","startTime":1110.599,"endTime":1114.619,"body":"letter in the mail and said, Hey,"},{"speaker":"Average Joe Finances","startTime":1114.619,"endTime":1117.711,"body":"we reviewed, blah, blah, blah,"},{"speaker":"Average Joe Finances","startTime":1114.619,"endTime":1117.711,"body":"blah, blah, you paid this much."},{"speaker":"Average Joe Finances","startTime":1117.711,"endTime":1119.511,"body":"You really should have paid this much."},{"speaker":"Average Joe Finances","startTime":1119.956,"endTime":1122.282,"body":"So we owe you, 2,600 bucks."},{"speaker":"Average Joe Finances","startTime":1122.552,"endTime":1126.4,"body":"So I'm like what, and next thing I"},{"speaker":"Average Joe Finances","startTime":1122.552,"endTime":1126.4,"body":"know, like literally a couple days"},{"speaker":"Average Joe Finances","startTime":1126.4,"endTime":1129.17,"body":"after I got the letter in the mail,"},{"speaker":"Average Joe Finances","startTime":1126.4,"endTime":1129.17,"body":"I got a check and I'm like okay."},{"speaker":"Average Joe Finances","startTime":1129.17,"endTime":1131.69,"body":"I thought I was gonna get a letter"},{"speaker":"Average Joe Finances","startTime":1129.17,"endTime":1131.69,"body":"saying I owed them more money."},{"speaker":"Average Joe Finances","startTime":1131.93,"endTime":1133.147,"body":"So it was very interesting."},{"speaker":"Average Joe Finances","startTime":1133.187,"endTime":1137.004,"body":"Not what I expected, but the thing"},{"speaker":"Average Joe Finances","startTime":1133.187,"endTime":1137.004,"body":"is, It's funny because a lot of it"},{"speaker":"Average Joe Finances","startTime":1137.004,"endTime":1139.489,"body":"was something I missed with one of"},{"speaker":"Average Joe Finances","startTime":1137.004,"endTime":1139.489,"body":"my properties, something I guess"},{"speaker":"Average Joe Finances","startTime":1139.489,"endTime":1140.809,"body":"I forgot to claim or something."},{"speaker":"Average Joe Finances","startTime":1140.876,"endTime":1143.856,"body":"Cuz for the longest time I've been"},{"speaker":"Average Joe Finances","startTime":1140.876,"endTime":1143.856,"body":"doing this myself and like this year"},{"speaker":"Average Joe Finances","startTime":1143.884,"endTime":1147.268,"body":"I'm hiring a CPA because it is just"},{"speaker":"Average Joe Finances","startTime":1143.884,"endTime":1147.268,"body":"too complicated for me at this point."},{"speaker":"Average Joe Finances","startTime":1147.688,"endTime":1149.32,"body":"But It was little things like that."},{"speaker":"Average Joe Finances","startTime":1149.32,"endTime":1153.738,"body":"Just things from the tax code that I"},{"speaker":"Average Joe Finances","startTime":1149.32,"endTime":1153.738,"body":"was able to benefit from such as owning"},{"speaker":"Average Joe Finances","startTime":1153.738,"endTime":1157.409,"body":"real estate and being able to claim"},{"speaker":"Average Joe Finances","startTime":1153.738,"endTime":1157.409,"body":"some of the depreciation on different"},{"speaker":"Average Joe Finances","startTime":1157.409,"endTime":1158.999,"body":"parts of the real estate that I own."},{"speaker":"Average Joe Finances","startTime":1159.239,"endTime":1162.599,"body":"And now investing in multi-family"},{"speaker":"Average Joe Finances","startTime":1159.239,"endTime":1162.599,"body":"assets, I get to get this advanced"},{"speaker":"Average Joe Finances","startTime":1162.599,"endTime":1165.851,"body":"depreciation, with these cost"},{"speaker":"Average Joe Finances","startTime":1162.599,"endTime":1165.851,"body":"segregation studies, which really help"},{"speaker":"Average Joe Finances","startTime":1165.851,"endTime":1167.831,"body":"and really help you take a huge loss."},{"speaker":"Average Joe Finances","startTime":1167.898,"endTime":1170.361,"body":"It's the little things like"},{"speaker":"Average Joe Finances","startTime":1167.898,"endTime":1170.361,"body":"that, I get it some people are"},{"speaker":"Average Joe Finances","startTime":1170.366,"endTime":1172.128,"body":"like, Hey that, that's not cool."},{"speaker":"Average Joe Finances","startTime":1172.128,"endTime":1176.09,"body":"You're not paying your fair share, but"},{"speaker":"Average Joe Finances","startTime":1172.128,"endTime":1176.09,"body":"really you are because when you're buying"},{"speaker":"Average Joe Finances","startTime":1176.09,"endTime":1179.915,"body":"these assets and you're buying like real"},{"speaker":"Average Joe Finances","startTime":1176.09,"endTime":1179.915,"body":"estate or other things like that, you're"},{"speaker":"Average Joe Finances","startTime":1179.915,"endTime":1185.391,"body":"creating jobs, you're creating a livable"},{"speaker":"Average Joe Finances","startTime":1179.915,"endTime":1185.391,"body":"area for people, affordable housing and"},{"speaker":"Average Joe Finances","startTime":1185.396,"endTime":1189.442,"body":"then making it so that, those tax dollars"},{"speaker":"Average Joe Finances","startTime":1185.396,"endTime":1189.442,"body":"are still getting put into the system."},{"speaker":"Average Joe Finances","startTime":1189.47,"endTime":1191.112,"body":"So there's little things like that."},{"speaker":"Average Joe Finances","startTime":1191.112,"endTime":1194.072,"body":"Trust me, I'm paying my fair share,"},{"speaker":"Average Joe Finances","startTime":1191.112,"endTime":1194.072,"body":"and it's just something I wanted to"},{"speaker":"Average Joe Finances","startTime":1194.072,"endTime":1197.302,"body":"touch on a little bit because like you"},{"speaker":"Average Joe Finances","startTime":1194.072,"endTime":1197.302,"body":"said, you've got these two opposing"},{"speaker":"Average Joe Finances","startTime":1197.302,"endTime":1200.611,"body":"sides, that are making these arguments"},{"speaker":"Average Joe Finances","startTime":1197.302,"endTime":1200.611,"body":"about why people should pay more."},{"speaker":"Average Joe Finances","startTime":1200.611,"endTime":1202.981,"body":"Why we should leave it the same"},{"speaker":"Average Joe Finances","startTime":1200.611,"endTime":1202.981,"body":"or why people should pay less?"},{"speaker":"Average Joe Finances","startTime":1203.471,"endTime":1206.981,"body":"It's very interesting when you look at"},{"speaker":"Average Joe Finances","startTime":1203.471,"endTime":1206.981,"body":"the tax code, like you said, and there's"},{"speaker":"Average Joe Finances","startTime":1206.981,"endTime":1212.241,"body":"more clarification in there to help you"},{"speaker":"Average Joe Finances","startTime":1206.981,"endTime":1212.241,"body":"pay lessen taxes than there are saying"},{"speaker":"Average Joe Finances","startTime":1212.246,"endTime":1214.821,"body":"here's what you actually need to pay"},{"speaker":"Average Joe Finances","startTime":1212.246,"endTime":1214.821,"body":"based on the bracket that you're in."},{"speaker":"Average Joe Finances","startTime":1214.886,"endTime":1218.39,"body":"So it's wild and I think it all"},{"speaker":"Average Joe Finances","startTime":1214.886,"endTime":1218.39,"body":"has to go back to your mindset."},{"speaker":"Average Joe Finances","startTime":1218.414,"endTime":1221.84,"body":"And I think that's where you go, your"},{"speaker":"Average Joe Finances","startTime":1218.414,"endTime":1221.84,"body":"focus is when you're talking to people"},{"speaker":"Average Joe Finances","startTime":1221.845,"endTime":1225.489,"body":"about this, but building their financial"},{"speaker":"Average Joe Finances","startTime":1221.845,"endTime":1225.489,"body":"literacy and understanding these things"},{"speaker":"Average Joe Finances","startTime":1225.489,"endTime":1229.292,"body":"is changing your mindset, changing the"},{"speaker":"Average Joe Finances","startTime":1225.489,"endTime":1229.292,"body":"way that you look at this, because if"},{"speaker":"Average Joe Finances","startTime":1229.292,"endTime":1231.872,"body":"you would've asked me 10 years ago, I"},{"speaker":"Average Joe Finances","startTime":1229.292,"endTime":1231.872,"body":"would've never looked at it this way."},{"speaker":"Average Joe Finances","startTime":1231.882,"endTime":1234.037,"body":"I would've never thought I"},{"speaker":"Average Joe Finances","startTime":1231.882,"endTime":1234.037,"body":"could save money on my taxes"},{"speaker":"Average Joe Finances","startTime":1234.247,"endTime":1235.747,"body":"because I bought some properties."},{"speaker":"Average Joe Finances","startTime":1235.747,"endTime":1236.317,"body":"You know what I'm saying?"},{"speaker":"Average Joe Finances","startTime":1236.373,"endTime":1239.188,"body":"So things like that are interesting"},{"speaker":"Average Joe Finances","startTime":1236.373,"endTime":1239.188,"body":"and I'm glad that you're out there"},{"speaker":"Average Joe Finances","startTime":1239.188,"endTime":1242.338,"body":"putting out this information and sharing"},{"speaker":"Average Joe Finances","startTime":1239.188,"endTime":1242.338,"body":"this with people so that they can get"},{"speaker":"Average Joe Finances","startTime":1242.338,"endTime":1243.728,"body":"a better understanding themselves."},{"speaker":"Jerry Fetta","startTime":1243.728,"endTime":1244.968,"body":"Yeah, absolutely."},{"speaker":"Jerry Fetta","startTime":1244.968,"endTime":1245.428,"body":"Thank you."},{"speaker":"Jerry Fetta","startTime":1245.454,"endTime":1249.143,"body":"And a big thing to add to that mindset"},{"speaker":"Jerry Fetta","startTime":1245.454,"endTime":1249.143,"body":"too, is, when the government, creates"},{"speaker":"Jerry Fetta","startTime":1249.174,"endTime":1251.604,"body":"a tax code that gives you an incentive."},{"speaker":"Jerry Fetta","startTime":1252.184,"endTime":1255.994,"body":"It's either because A they wanna use"},{"speaker":"Jerry Fetta","startTime":1252.184,"endTime":1255.994,"body":"it themselves or gut lobbied in or B"},{"speaker":"Jerry Fetta","startTime":1255.994,"endTime":1258.393,"body":"it's their way of outsourcing, right?"},{"speaker":"Jerry Fetta","startTime":1258.393,"endTime":1260.795,"body":"Like they're looking at it and saying,"},{"speaker":"Jerry Fetta","startTime":1258.393,"endTime":1260.795,"body":"okay, we could turn this into a"},{"speaker":"Jerry Fetta","startTime":1260.795,"endTime":1263.645,"body":"government agency to create more housing."},{"speaker":"Jerry Fetta","startTime":1264.62,"endTime":1268.43,"body":"Or we could give a tax benefit to"},{"speaker":"Jerry Fetta","startTime":1264.62,"endTime":1268.43,"body":"the investor and have them do it."},{"speaker":"Jerry Fetta","startTime":1268.58,"endTime":1271.73,"body":"And then they create more housing or they"},{"speaker":"Jerry Fetta","startTime":1268.58,"endTime":1271.73,"body":"create more jobs or they invest in oil"},{"speaker":"Jerry Fetta","startTime":1271.73,"endTime":1274.566,"body":"and gas or electric vehicles or solar."},{"speaker":"Jerry Fetta","startTime":1274.566,"endTime":1277.861,"body":"And so we're gonna incentivize them"},{"speaker":"Jerry Fetta","startTime":1274.566,"endTime":1277.861,"body":"to do it by giving them tax breaks."},{"speaker":"Jerry Fetta","startTime":1278.191,"endTime":1281.71,"body":"And it's like their way of then hiring and"},{"speaker":"Jerry Fetta","startTime":1278.191,"endTime":1281.71,"body":"outsourcing that to the private sector."},{"speaker":"Average Joe Finances","startTime":1282.145,"endTime":1284.622,"body":"And the best part"},{"speaker":"Average Joe Finances","startTime":1282.145,"endTime":1284.622,"body":"of that is too, is now you have these"},{"speaker":"Average Joe Finances","startTime":1284.622,"endTime":1289.454,"body":"private entities doing it, which we"},{"speaker":"Average Joe Finances","startTime":1284.622,"endTime":1289.454,"body":"all know, when you leave the government"},{"speaker":"Average Joe Finances","startTime":1289.454,"endTime":1292.891,"body":"up to something it's not gonna be that"},{"speaker":"Average Joe Finances","startTime":1289.454,"endTime":1292.891,"body":"great, where if you let these private"},{"speaker":"Average Joe Finances","startTime":1292.951,"endTime":1296.941,"body":"entities and companies or people and"},{"speaker":"Average Joe Finances","startTime":1292.951,"endTime":1296.941,"body":"investors go out there and do it,"},{"speaker":"Average Joe Finances","startTime":1296.946,"endTime":1298.501,"body":"you're gonna get a better end product."},{"speaker":"Average Joe Finances","startTime":1298.501,"endTime":1302.92,"body":"You're gonna get a better, a more"},{"speaker":"Average Joe Finances","startTime":1298.501,"endTime":1302.92,"body":"livable, apartment or home versus"},{"speaker":"Average Joe Finances","startTime":1302.92,"endTime":1304.45,"body":"the government doing it themselves."},{"speaker":"Average Joe Finances","startTime":1305.635,"endTime":1307.93,"body":"Let's face it, they're trying to"},{"speaker":"Average Joe Finances","startTime":1305.635,"endTime":1307.93,"body":"save as much money as possible"},{"speaker":"Average Joe Finances","startTime":1308.002,"endTime":1309.352,"body":"while doing what they do."},{"speaker":"Average Joe Finances","startTime":1309.408,"endTime":1310.188,"body":"That's a huge point."},{"speaker":"Average Joe Finances","startTime":1310.188,"endTime":1311.194,"body":"Definitely appreciate that."},{"speaker":"Average Joe Finances","startTime":1311.214,"endTime":1312.084,"body":"Okay, cool."},{"speaker":"Average Joe Finances","startTime":1312.089,"endTime":1315.677,"body":"So I wanna shift focus a little"},{"speaker":"Average Joe Finances","startTime":1312.089,"endTime":1315.677,"body":"bit and talk about besides just"},{"speaker":"Average Joe Finances","startTime":1315.682,"endTime":1319.487,"body":"the tax piece of it, what else can"},{"speaker":"Average Joe Finances","startTime":1315.682,"endTime":1319.487,"body":"you do to hedge against inflation?"},{"speaker":"Average Joe Finances","startTime":1319.487,"endTime":1321.9,"body":"Like we talked a little"},{"speaker":"Average Joe Finances","startTime":1319.487,"endTime":1321.9,"body":"bit about gold and silver."},{"speaker":"Average Joe Finances","startTime":1322.11,"endTime":1325.26,"body":"What are some other ways like,"},{"speaker":"Average Joe Finances","startTime":1322.11,"endTime":1325.26,"body":"actually I wanna ask you how you"},{"speaker":"Average Joe Finances","startTime":1325.26,"endTime":1328.29,"body":"feel about this, cause I know"},{"speaker":"Average Joe Finances","startTime":1325.26,"endTime":1328.29,"body":"you like to focus on hard assets."},{"speaker":"Average Joe Finances","startTime":1328.62,"endTime":1329.64,"body":"How do you feel?"},{"speaker":"Average Joe Finances","startTime":1329.64,"endTime":1334.814,"body":"Because like right now, I bonds, for"},{"speaker":"Average Joe Finances","startTime":1329.64,"endTime":1334.814,"body":"example, or over 9% I think going now"},{"speaker":"Average Joe Finances","startTime":1334.814,"endTime":1338.934,"body":"until October, so at the time of this"},{"speaker":"Average Joe Finances","startTime":1334.814,"endTime":1338.934,"body":"recording, it's over 9% to buy I bonds."},{"speaker":"Average Joe Finances","startTime":1338.954,"endTime":1341.774,"body":"How do you feel about something like that?"},{"speaker":"Average Joe Finances","startTime":1341.834,"endTime":1343.408,"body":"Which is, it's government subsidized."},{"speaker":"Jerry Fetta","startTime":1344.638,"endTime":1344.968,"body":"Yeah."},{"speaker":"Jerry Fetta","startTime":1344.968,"endTime":1349.335,"body":"So I think, for investing in anything,"},{"speaker":"Jerry Fetta","startTime":1344.968,"endTime":1349.335,"body":"it comes down to, for me, like it"},{"speaker":"Jerry Fetta","startTime":1349.335,"endTime":1351.053,"body":"comes down to six different points."},{"speaker":"Jerry Fetta","startTime":1351.14,"endTime":1354.86,"body":"So the word investing at its root,"},{"speaker":"Jerry Fetta","startTime":1351.14,"endTime":1354.86,"body":"it actually the etymology, that word"},{"speaker":"Jerry Fetta","startTime":1354.86,"endTime":1356.99,"body":"means to clothe your capital, right?"},{"speaker":"Jerry Fetta","startTime":1356.99,"endTime":1359.31,"body":"So it's literally like you're"},{"speaker":"Jerry Fetta","startTime":1356.99,"endTime":1359.31,"body":"putting clothing on your money."},{"speaker":"Jerry Fetta","startTime":1359.31,"endTime":1362.317,"body":"And so I just think common sense, I grew"},{"speaker":"Jerry Fetta","startTime":1359.31,"endTime":1362.317,"body":"up in Alaska, I'm a common sense guy."},{"speaker":"Jerry Fetta","startTime":1362.317,"endTime":1365.377,"body":"So when I wear clothing, if"},{"speaker":"Jerry Fetta","startTime":1362.317,"endTime":1365.377,"body":"I cloth myself, I'm not gonna"},{"speaker":"Jerry Fetta","startTime":1365.377,"endTime":1366.457,"body":"wear things that I don't like."},{"speaker":"Jerry Fetta","startTime":1366.757,"endTime":1368.707,"body":"I'm not gonna wear things"},{"speaker":"Jerry Fetta","startTime":1366.757,"endTime":1368.707,"body":"that I don't understand."},{"speaker":"Jerry Fetta","startTime":1369.197,"endTime":1371.447,"body":"I'm not gonna wear things"},{"speaker":"Jerry Fetta","startTime":1369.197,"endTime":1371.447,"body":"that don't fit me as a person."},{"speaker":"Jerry Fetta","startTime":1371.507,"endTime":1373.877,"body":"I'm not gonna wear things that"},{"speaker":"Jerry Fetta","startTime":1371.507,"endTime":1373.877,"body":"don't fit the occasion that"},{"speaker":"Jerry Fetta","startTime":1373.877,"endTime":1374.907,"body":"I'm gonna be using them for."},{"speaker":"Jerry Fetta","startTime":1375.862,"endTime":1378.742,"body":"I'm not gonna wear, like I'm gonna"},{"speaker":"Jerry Fetta","startTime":1375.862,"endTime":1378.742,"body":"wear vital clothing first, and then I'm"},{"speaker":"Jerry Fetta","startTime":1378.742,"endTime":1380.362,"body":"also not gonna overpay for clothing."},{"speaker":"Jerry Fetta","startTime":1380.362,"endTime":1382.562,"body":"And so the same rules would"},{"speaker":"Jerry Fetta","startTime":1380.362,"endTime":1382.562,"body":"apply with my investing."},{"speaker":"Jerry Fetta","startTime":1382.562,"endTime":1385.48,"body":"If I don't like an investment, if I"},{"speaker":"Jerry Fetta","startTime":1382.562,"endTime":1385.48,"body":"don't understand it, if it doesn't fit"},{"speaker":"Jerry Fetta","startTime":1385.48,"endTime":1389.44,"body":"me as an individual, if it doesn't fit"},{"speaker":"Jerry Fetta","startTime":1385.48,"endTime":1389.44,"body":"my goals, if it's not vital, like if"},{"speaker":"Jerry Fetta","startTime":1389.44,"endTime":1392.721,"body":"it's not tied to something valuable"},{"speaker":"Jerry Fetta","startTime":1389.44,"endTime":1392.721,"body":"that people are gonna continue to pay"},{"speaker":"Jerry Fetta","startTime":1392.721,"endTime":1394.401,"body":"for whether the economy is up or down."},{"speaker":"Jerry Fetta","startTime":1394.731,"endTime":1396.584,"body":"And then lastly is I'm not gonna overpay."},{"speaker":"Jerry Fetta","startTime":1396.613,"endTime":1398.533,"body":"And so everything I do, I"},{"speaker":"Jerry Fetta","startTime":1396.613,"endTime":1398.533,"body":"run through that filter."},{"speaker":"Jerry Fetta","startTime":1398.863,"endTime":1402.093,"body":"I don't like, not having control,"},{"speaker":"Jerry Fetta","startTime":1398.863,"endTime":1402.093,"body":"so I don't like digital and"},{"speaker":"Jerry Fetta","startTime":1402.093,"endTime":1403.683,"body":"paper assets for that reason."},{"speaker":"Jerry Fetta","startTime":1403.683,"endTime":1406.533,"body":"And so it doesn't matter how big"},{"speaker":"Jerry Fetta","startTime":1403.683,"endTime":1406.533,"body":"of a yield you wave in front of me."},{"speaker":"Jerry Fetta","startTime":1406.533,"endTime":1408.723,"body":"I can't check off that"},{"speaker":"Jerry Fetta","startTime":1406.533,"endTime":1408.723,"body":"first box of I like."},{"speaker":"Jerry Fetta","startTime":1409.528,"endTime":1412.618,"body":"And then because I'm not in control of"},{"speaker":"Jerry Fetta","startTime":1409.528,"endTime":1412.618,"body":"it, there's always gonna be some missing"},{"speaker":"Jerry Fetta","startTime":1412.618,"endTime":1415.957,"body":"level of understanding, unless they're"},{"speaker":"Jerry Fetta","startTime":1412.618,"endTime":1415.957,"body":"fully disclosing to me, all of the"},{"speaker":"Jerry Fetta","startTime":1415.957,"endTime":1419.467,"body":"books and all of the financials behind"},{"speaker":"Jerry Fetta","startTime":1415.957,"endTime":1419.467,"body":"everything, I'm always gonna be the"},{"speaker":"Jerry Fetta","startTime":1419.467,"endTime":1421.387,"body":"odd man out on that kind of investment."},{"speaker":"Jerry Fetta","startTime":1421.747,"endTime":1424.657,"body":"And so I might be able to say"},{"speaker":"Jerry Fetta","startTime":1421.747,"endTime":1424.657,"body":"I understand, but do I really?"},{"speaker":"Jerry Fetta","startTime":1424.686,"endTime":1427.476,"body":"And so that's where something like"},{"speaker":"Jerry Fetta","startTime":1424.686,"endTime":1427.476,"body":"real estate, I actually can, I can"},{"speaker":"Jerry Fetta","startTime":1427.476,"endTime":1431.034,"body":"dive into a P and L . A life insurance"},{"speaker":"Jerry Fetta","startTime":1427.476,"endTime":1431.034,"body":"company they disclose their profit and"},{"speaker":"Jerry Fetta","startTime":1431.034,"endTime":1432.444,"body":"losses on their website every year."},{"speaker":"Jerry Fetta","startTime":1432.444,"endTime":1433.224,"body":"I can look at that."},{"speaker":"Jerry Fetta","startTime":1433.584,"endTime":1436.935,"body":"And so that's a big part for me is,"},{"speaker":"Jerry Fetta","startTime":1433.584,"endTime":1436.935,"body":"those two boxes would've to be checking."},{"speaker":"Jerry Fetta","startTime":1436.935,"endTime":1438.58,"body":"I don't think I could do"},{"speaker":"Jerry Fetta","startTime":1436.935,"endTime":1438.58,"body":"that on a bond like that."},{"speaker":"Average Joe Finances","startTime":1438.617,"endTime":1438.947,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":1438.977,"endTime":1443.502,"body":"I just wanna say that analogy"},{"speaker":"Average Joe Finances","startTime":1438.977,"endTime":1443.502,"body":"right of, clothing, your capital"},{"speaker":"Average Joe Finances","startTime":1443.862,"endTime":1445.062,"body":"absolutely love that, man."},{"speaker":"Average Joe Finances","startTime":1445.067,"endTime":1447.378,"body":"Especially the way you tie it"},{"speaker":"Average Joe Finances","startTime":1445.067,"endTime":1447.378,"body":"in you're not gonna, you're not"},{"speaker":"Average Joe Finances","startTime":1447.378,"endTime":1450.319,"body":"gonna buy clothes, you have to buy"},{"speaker":"Average Joe Finances","startTime":1447.378,"endTime":1450.319,"body":"clothes suitable for the situation."},{"speaker":"Average Joe Finances","startTime":1450.348,"endTime":1453.328,"body":"So when you were living in Alaska"},{"speaker":"Average Joe Finances","startTime":1450.348,"endTime":1453.328,"body":"you needed something that was"},{"speaker":"Average Joe Finances","startTime":1453.328,"endTime":1454.498,"body":"going to keep you warm right."},{"speaker":"Average Joe Finances","startTime":1454.498,"endTime":1455.871,"body":"Versus Florida."},{"speaker":"Average Joe Finances","startTime":1455.871,"endTime":1456.632,"body":"Yeah, exactly."},{"speaker":"Average Joe Finances","startTime":1456.649,"endTime":1458.329,"body":"So that is super awesome."},{"speaker":"Average Joe Finances","startTime":1458.329,"endTime":1460.429,"body":"Like when you tie it to something"},{"speaker":"Average Joe Finances","startTime":1458.329,"endTime":1460.429,"body":"like that, and then you're not"},{"speaker":"Average Joe Finances","startTime":1460.429,"endTime":1463.609,"body":"gonna buy something that you're not"},{"speaker":"Average Joe Finances","startTime":1460.429,"endTime":1463.609,"body":"interested in or that you don't like."},{"speaker":"Average Joe Finances","startTime":1463.633,"endTime":1466.668,"body":"Because if it's not something you're gonna"},{"speaker":"Average Joe Finances","startTime":1463.633,"endTime":1466.668,"body":"be passionate about, it's not something"},{"speaker":"Average Joe Finances","startTime":1466.668,"endTime":1467.958,"body":"you're gonna care too much about."},{"speaker":"Average Joe Finances","startTime":1468.218,"endTime":1470.618,"body":"There's a lot of room"},{"speaker":"Average Joe Finances","startTime":1468.218,"endTime":1470.618,"body":"for error right there."},{"speaker":"Average Joe Finances","startTime":1470.626,"endTime":1473.308,"body":"You don't want to go out to the"},{"speaker":"Average Joe Finances","startTime":1470.626,"endTime":1473.308,"body":"store and mismatch clothes and then,"},{"speaker":"Average Joe Finances","startTime":1473.358,"endTime":1474.528,"body":"people looking at you all funny."},{"speaker":"Average Joe Finances","startTime":1474.544,"endTime":1475.804,"body":"So there's that aspect."},{"speaker":"Average Joe Finances","startTime":1475.804,"endTime":1479.556,"body":"And then also, it's about dressing"},{"speaker":"Average Joe Finances","startTime":1475.804,"endTime":1479.556,"body":"for the environment that you're in."},{"speaker":"Average Joe Finances","startTime":1480.276,"endTime":1484.043,"body":"So when the way you described that,"},{"speaker":"Average Joe Finances","startTime":1480.276,"endTime":1484.043,"body":"man I absolutely love that, Jerry."},{"speaker":"Average Joe Finances","startTime":1484.043,"endTime":1485.817,"body":"That is fantastic for sure."},{"speaker":"Jerry Fetta","startTime":1485.967,"endTime":1486.207,"body":"Yeah."},{"speaker":"Jerry Fetta","startTime":1486.207,"endTime":1486.64,"body":"Thank you."},{"speaker":"Average Joe Finances","startTime":1486.64,"endTime":1487.015,"body":"Yeah, man."},{"speaker":"Average Joe Finances","startTime":1487.015,"endTime":1488.692,"body":"I'm gonna use that in the future for sure."},{"speaker":"Average Joe Finances","startTime":1488.697,"endTime":1489.342,"body":"I'm just letting you know,"},{"speaker":"Jerry Fetta","startTime":1489.342,"endTime":1489.662,"body":"Go for it."},{"speaker":"Average Joe Finances","startTime":1489.69,"endTime":1491.054,"body":"Somebody"},{"speaker":"Average Joe Finances","startTime":1489.69,"endTime":1491.054,"body":"brings that up and be like, Hey, let"},{"speaker":"Average Joe Finances","startTime":1491.054,"endTime":1492.194,"body":"me tell you about what Jerry said."},{"speaker":"Average Joe Finances","startTime":1492.194,"endTime":1492.464,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1492.734,"endTime":1493.604,"body":"It'll help a lot of people."},{"speaker":"Average Joe Finances","startTime":1494.149,"endTime":1495.499,"body":"Yeah, that is super cool, man."},{"speaker":"Average Joe Finances","startTime":1495.799,"endTime":1496.069,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1496.069,"endTime":1498.392,"body":"I wanna kind of transition"},{"speaker":"Average Joe Finances","startTime":1496.069,"endTime":1498.392,"body":"to  this part of the podcast,"},{"speaker":"Average Joe Finances","startTime":1498.392,"endTime":1499.742,"body":"what we call the final round."},{"speaker":"Average Joe Finances","startTime":1499.742,"endTime":1499.952,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1499.952,"endTime":1503.8,"body":"I'm gonna ask you some hard-hitting"},{"speaker":"Average Joe Finances","startTime":1499.952,"endTime":1503.8,"body":"questions three hard-hitting questions"},{"speaker":"Average Joe Finances","startTime":1503.8,"endTime":1505.514,"body":"and then an opinion based piece."},{"speaker":"Average Joe Finances","startTime":1505.514,"endTime":1506.403,"body":"And then we'll go from there."},{"speaker":"Average Joe Finances","startTime":1506.433,"endTime":1506.763,"body":"Okay."},{"speaker":"Jerry Fetta","startTime":1507.328,"endTime":1507.868,"body":"Let's do it."},{"speaker":"Average Joe Finances","startTime":1508.078,"endTime":1508.288,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1508.288,"endTime":1508.828,"body":"Let's do it."},{"speaker":"Average Joe Finances","startTime":1509.128,"endTime":1509.398,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1509.398,"endTime":1511.468,"body":"So the first question"},{"speaker":"Average Joe Finances","startTime":1509.398,"endTime":1511.468,"body":"I have for you, Jerry."},{"speaker":"Average Joe Finances","startTime":1511.678,"endTime":1512.008,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1512.03,"endTime":1515.153,"body":"With everything that you've had, and"},{"speaker":"Average Joe Finances","startTime":1512.03,"endTime":1515.153,"body":"that you've experienced from being on"},{"speaker":"Average Joe Finances","startTime":1515.178,"endTime":1520.205,"body":"the traditional or the mainstream side"},{"speaker":"Average Joe Finances","startTime":1515.178,"endTime":1520.205,"body":"to where you're at now with alternative"},{"speaker":"Average Joe Finances","startTime":1520.205,"endTime":1525.165,"body":"investments and building wealth, like"},{"speaker":"Average Joe Finances","startTime":1520.205,"endTime":1525.165,"body":"the top 1%, what would you say is"},{"speaker":"Average Joe Finances","startTime":1525.165,"endTime":1526.655,"body":"the biggest mistake you've ever made?"},{"speaker":"Jerry Fetta","startTime":1528.125,"endTime":1531.225,"body":"The biggest mistake"},{"speaker":"Jerry Fetta","startTime":1528.125,"endTime":1531.225,"body":"that I ever made was not checking"},{"speaker":"Jerry Fetta","startTime":1531.255,"endTime":1535.255,"body":"where the information I got, where"},{"speaker":"Jerry Fetta","startTime":1531.255,"endTime":1535.255,"body":"it came from and if it was valid."},{"speaker":"Jerry Fetta","startTime":1535.255,"endTime":1538.464,"body":"And I say that because I was an"},{"speaker":"Jerry Fetta","startTime":1535.255,"endTime":1538.464,"body":"actual financial advisor, I took"},{"speaker":"Jerry Fetta","startTime":1538.464,"endTime":1542.124,"body":"actual series exams with the state"},{"speaker":"Jerry Fetta","startTime":1538.464,"endTime":1542.124,"body":"government, federal government."},{"speaker":"Jerry Fetta","startTime":1542.514,"endTime":1544.415,"body":"And that's, quote unquote gospel."},{"speaker":"Jerry Fetta","startTime":1544.415,"endTime":1545.645,"body":"That's the right information."},{"speaker":"Jerry Fetta","startTime":1545.645,"endTime":1547.602,"body":"But I never looked at what"},{"speaker":"Jerry Fetta","startTime":1545.645,"endTime":1547.602,"body":"do wealthy people use."},{"speaker":"Jerry Fetta","startTime":1548.517,"endTime":1549.837,"body":"Let me see a practical example."},{"speaker":"Jerry Fetta","startTime":1549.837,"endTime":1553.407,"body":"And so I bought into that for several"},{"speaker":"Jerry Fetta","startTime":1549.837,"endTime":1553.407,"body":"years and I was at the top of the top."},{"speaker":"Jerry Fetta","startTime":1553.437,"endTime":1555.927,"body":"Most people don't have those"},{"speaker":"Jerry Fetta","startTime":1553.437,"endTime":1555.927,"body":"licenses and they buy into it."},{"speaker":"Jerry Fetta","startTime":1556.437,"endTime":1559.277,"body":"And so I would say, if I would've just"},{"speaker":"Jerry Fetta","startTime":1556.437,"endTime":1559.277,"body":"asked that question is okay, good."},{"speaker":"Jerry Fetta","startTime":1559.277,"endTime":1561.347,"body":"I learned this, where is it?"},{"speaker":"Jerry Fetta","startTime":1561.377,"endTime":1564.386,"body":"Where is the example of this with"},{"speaker":"Jerry Fetta","startTime":1561.377,"endTime":1564.386,"body":"a wealthy person in the real world?"},{"speaker":"Jerry Fetta","startTime":1564.386,"endTime":1566.229,"body":"I think I would've"},{"speaker":"Jerry Fetta","startTime":1564.386,"endTime":1566.229,"body":"switched over much sooner."},{"speaker":"Average Joe Finances","startTime":1566.446,"endTime":1566.896,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":1567.106,"endTime":1567.225,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1567.225,"endTime":1568.308,"body":"That's a fantastic point."},{"speaker":"Average Joe Finances","startTime":1568.33,"endTime":1569.825,"body":"I definitely appreciate that answer."},{"speaker":"Average Joe Finances","startTime":1569.855,"endTime":1570.155,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1570.185,"endTime":1572.86,"body":"And this is gonna tie into the"},{"speaker":"Average Joe Finances","startTime":1570.185,"endTime":1572.86,"body":"next question I'm gonna ask you."},{"speaker":"Average Joe Finances","startTime":1573.34,"endTime":1577.06,"body":"And what is something that you've"},{"speaker":"Average Joe Finances","startTime":1573.34,"endTime":1577.06,"body":"learned over the years that you wish"},{"speaker":"Average Joe Finances","startTime":1577.065,"endTime":1578.8,"body":"you knew when you first got started?"},{"speaker":"Jerry Fetta","startTime":1578.95,"endTime":1580.09,"body":"Man, that's a great one."},{"speaker":"Jerry Fetta","startTime":1580.095,"endTime":1583.66,"body":"I, so one of my, one of my favorite things"},{"speaker":"Jerry Fetta","startTime":1580.095,"endTime":1583.66,"body":"I've ever learned, there was a chart that"},{"speaker":"Jerry Fetta","startTime":1583.66,"endTime":1586.688,"body":"was shown to me back in 2016 or 2017."},{"speaker":"Jerry Fetta","startTime":1586.688,"endTime":1589.067,"body":"And it showed the savings"},{"speaker":"Jerry Fetta","startTime":1586.688,"endTime":1589.067,"body":"rate by wealth class."},{"speaker":"Jerry Fetta","startTime":1589.892,"endTime":1594.842,"body":"So it showed like the top 1%, like the"},{"speaker":"Jerry Fetta","startTime":1589.892,"endTime":1594.842,"body":"next 10% spread and then the bottom 90%,"},{"speaker":"Jerry Fetta","startTime":1595.262,"endTime":1598.712,"body":"and this stuck with me as soon as I saw"},{"speaker":"Jerry Fetta","startTime":1595.262,"endTime":1598.712,"body":"it for a hundred years, it went back from"},{"speaker":"Jerry Fetta","startTime":1598.712,"endTime":1605.83,"body":"1913 until 2013, I think, or 2016, the"},{"speaker":"Jerry Fetta","startTime":1598.712,"endTime":1605.83,"body":"top 1% saved 40% of their gross income."},{"speaker":"Jerry Fetta","startTime":1605.984,"endTime":1606.674,"body":"40%."},{"speaker":"Jerry Fetta","startTime":1606.674,"endTime":1607.816,"body":"And it was like clockwork."},{"speaker":"Jerry Fetta","startTime":1607.816,"endTime":1610.666,"body":"During the up economies,"},{"speaker":"Jerry Fetta","startTime":1607.816,"endTime":1610.666,"body":"they're saving 40."},{"speaker":"Jerry Fetta","startTime":1610.666,"endTime":1614.642,"body":"And then the great depression, the"},{"speaker":"Jerry Fetta","startTime":1610.666,"endTime":1614.642,"body":"1950s, those recessions and depressions,"},{"speaker":"Jerry Fetta","startTime":1614.942,"endTime":1616.292,"body":"their savings rate would drop."},{"speaker":"Jerry Fetta","startTime":1616.297,"endTime":1619.112,"body":"And you could actually see where"},{"speaker":"Jerry Fetta","startTime":1616.297,"endTime":1619.112,"body":"they were in good times, stacking"},{"speaker":"Jerry Fetta","startTime":1619.112,"endTime":1620.462,"body":"it away, building liquidity."},{"speaker":"Jerry Fetta","startTime":1620.462,"endTime":1622.812,"body":"And then in bad times they were"},{"speaker":"Jerry Fetta","startTime":1620.462,"endTime":1622.812,"body":"going in and there buying everything."},{"speaker":"Jerry Fetta","startTime":1622.812,"endTime":1624.119,"body":"So that stuck with me."},{"speaker":"Jerry Fetta","startTime":1624.119,"endTime":1627.068,"body":"And when I learned that was,"},{"speaker":"Jerry Fetta","startTime":1624.119,"endTime":1627.068,"body":"if I knew nothing else,  I need"},{"speaker":"Jerry Fetta","startTime":1627.068,"endTime":1628.628,"body":"to go save 40% of my income."},{"speaker":"Jerry Fetta","startTime":1628.838,"endTime":1631.958,"body":"And that was for me, the linchpin of,"},{"speaker":"Jerry Fetta","startTime":1628.838,"endTime":1631.958,"body":"okay, this is how you, this is how"},{"speaker":"Jerry Fetta","startTime":1631.958,"endTime":1633.808,"body":"you get into the top 1% of wealth."},{"speaker":"Average Joe Finances","startTime":1634.015,"endTime":1634.255,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":1634.255,"endTime":1637.753,"body":"That's that's significant 40%, that's"},{"speaker":"Average Joe Finances","startTime":1634.255,"endTime":1637.753,"body":"that could be tough for a lot of people"},{"speaker":"Average Joe Finances","startTime":1637.819,"endTime":1640.112,"body":"to do, but you can get there for sure."},{"speaker":"Average Joe Finances","startTime":1640.112,"endTime":1643.496,"body":"That's a great way to, to stay"},{"speaker":"Average Joe Finances","startTime":1640.112,"endTime":1643.496,"body":"focused and disciplined but you can"},{"speaker":"Average Joe Finances","startTime":1643.496,"endTime":1647.635,"body":"reap the rewards later on, as those"},{"speaker":"Average Joe Finances","startTime":1643.496,"endTime":1647.635,"body":"opportunities present themselves."},{"speaker":"Average Joe Finances","startTime":1647.815,"endTime":1650.749,"body":"So it definitely gives you more"},{"speaker":"Average Joe Finances","startTime":1647.815,"endTime":1650.749,"body":"liquidity, more liquidity for"},{"speaker":"Average Joe Finances","startTime":1650.749,"endTime":1652.039,"body":"opportunities in the future."},{"speaker":"Average Joe Finances","startTime":1652.099,"endTime":1652.759,"body":"That's for sure."},{"speaker":"Jerry Fetta","startTime":1652.909,"endTime":1653.529,"body":"It does."},{"speaker":"Jerry Fetta","startTime":1653.589,"endTime":1653.769,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1653.769,"endTime":1654.339,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1654.529,"endTime":1654.889,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1655.134,"endTime":1657.984,"body":"So this again is gonna tie"},{"speaker":"Average Joe Finances","startTime":1655.134,"endTime":1657.984,"body":"into the next question."},{"speaker":"Average Joe Finances","startTime":1658.374,"endTime":1661.987,"body":"And so you've, you shared, the something"},{"speaker":"Average Joe Finances","startTime":1658.374,"endTime":1661.987,"body":"that you learned that you wish you"},{"speaker":"Average Joe Finances","startTime":1661.987,"endTime":1664.947,"body":"knew when you first started, but what"},{"speaker":"Average Joe Finances","startTime":1661.987,"endTime":1664.947,"body":"about do you have any tips or tricks"},{"speaker":"Average Joe Finances","startTime":1664.947,"endTime":1668.667,"body":"that you would recommend to someone"},{"speaker":"Average Joe Finances","startTime":1664.947,"endTime":1668.667,"body":"that is just getting started today?"},{"speaker":"Jerry Fetta","startTime":1669.867,"endTime":1671.887,"body":"So if you're"},{"speaker":"Jerry Fetta","startTime":1669.867,"endTime":1671.887,"body":"just getting started today, I"},{"speaker":"Jerry Fetta","startTime":1671.887,"endTime":1673.207,"body":"used to be a personal trainer."},{"speaker":"Jerry Fetta","startTime":1673.207,"endTime":1677.54,"body":"I've done body building since I was"},{"speaker":"Jerry Fetta","startTime":1673.207,"endTime":1677.54,"body":"like 16, make finances, a daily habit."},{"speaker":"Jerry Fetta","startTime":1677.54,"endTime":1680.109,"body":"Like I related to, when I would go"},{"speaker":"Jerry Fetta","startTime":1677.54,"endTime":1680.109,"body":"to the gym, like you're not going"},{"speaker":"Jerry Fetta","startTime":1680.109,"endTime":1683.89,"body":"to get in perfect shape in three"},{"speaker":"Jerry Fetta","startTime":1680.109,"endTime":1683.89,"body":"weeks, it's gotta be a daily thing."},{"speaker":"Jerry Fetta","startTime":1683.89,"endTime":1686.83,"body":"So with my clients, we have this"},{"speaker":"Jerry Fetta","startTime":1683.89,"endTime":1686.83,"body":"thing called the big three challenge."},{"speaker":"Jerry Fetta","startTime":1686.83,"endTime":1687.972,"body":"And so it's a triangle."},{"speaker":"Jerry Fetta","startTime":1687.977,"endTime":1690.402,"body":"You check off one point to"},{"speaker":"Jerry Fetta","startTime":1687.977,"endTime":1690.402,"body":"the triangle and try and do"},{"speaker":"Jerry Fetta","startTime":1690.407,"endTime":1691.302,"body":"all three of them every day."},{"speaker":"Jerry Fetta","startTime":1691.302,"endTime":1692.712,"body":"The first one is every day."},{"speaker":"Jerry Fetta","startTime":1693.072,"endTime":1695.412,"body":"You wanna learn something about"},{"speaker":"Jerry Fetta","startTime":1693.072,"endTime":1695.412,"body":"money, spend 10 minutes, go and"},{"speaker":"Jerry Fetta","startTime":1695.412,"endTime":1698.486,"body":"invest a PD, watch a YouTube,"},{"speaker":"Jerry Fetta","startTime":1695.412,"endTime":1698.486,"body":"whatever it is do something to"},{"speaker":"Jerry Fetta","startTime":1698.486,"endTime":1699.836,"body":"increase your financial literacy."},{"speaker":"Jerry Fetta","startTime":1700.556,"endTime":1705.176,"body":"The second point is every day, do"},{"speaker":"Jerry Fetta","startTime":1700.556,"endTime":1705.176,"body":"something to earn more income, right?"},{"speaker":"Jerry Fetta","startTime":1705.181,"endTime":1707.456,"body":"You're already working, but we're"},{"speaker":"Jerry Fetta","startTime":1705.181,"endTime":1707.456,"body":"saying do an extra, like something"},{"speaker":"Jerry Fetta","startTime":1707.456,"endTime":1708.626,"body":"extra to earn more income."},{"speaker":"Jerry Fetta","startTime":1708.956,"endTime":1712.053,"body":"And then third is, reconcile and"},{"speaker":"Jerry Fetta","startTime":1708.956,"endTime":1712.053,"body":"rate your transactions paying"},{"speaker":"Jerry Fetta","startTime":1712.053,"endTime":1713.463,"body":"attention to where the money is going."},{"speaker":"Jerry Fetta","startTime":1713.973,"endTime":1717.303,"body":"And that's something I'd say, if you're"},{"speaker":"Jerry Fetta","startTime":1713.973,"endTime":1717.303,"body":"just now starting do that big three."},{"speaker":"Jerry Fetta","startTime":1717.303,"endTime":1720.093,"body":"If you do that every day for"},{"speaker":"Jerry Fetta","startTime":1717.303,"endTime":1720.093,"body":"90 days, it'll become a habit,"},{"speaker":"Jerry Fetta","startTime":1720.093,"endTime":1721.203,"body":"then it's just on automatic."},{"speaker":"Jerry Fetta","startTime":1722.118,"endTime":1723.888,"body":"That behavior will take you so far."},{"speaker":"Average Joe Finances","startTime":1724.09,"endTime":1727.403,"body":"Yeah, that, wow,"},{"speaker":"Average Joe Finances","startTime":1724.09,"endTime":1727.403,"body":"Jerry, that is a fantastic point and"},{"speaker":"Average Joe Finances","startTime":1727.403,"endTime":1731.366,"body":"a great, tip for somebody that's just"},{"speaker":"Average Joe Finances","startTime":1727.403,"endTime":1731.366,"body":"getting started today, do that for 90"},{"speaker":"Average Joe Finances","startTime":1731.366,"endTime":1732.956,"body":"days and it will, it'll become a habit."},{"speaker":"Average Joe Finances","startTime":1732.956,"endTime":1734.066,"body":"It'll just become second nature."},{"speaker":"Average Joe Finances","startTime":1734.066,"endTime":1736.324,"body":"And just something that you put"},{"speaker":"Average Joe Finances","startTime":1734.066,"endTime":1736.324,"body":"into your routine and do every day."},{"speaker":"Average Joe Finances","startTime":1736.341,"endTime":1740.661,"body":"I like how you tie when you first started"},{"speaker":"Average Joe Finances","startTime":1736.341,"endTime":1740.661,"body":"off as a, As a bodybuilder and doing a,"},{"speaker":"Average Joe Finances","startTime":1740.691,"endTime":1744.111,"body":"like a, as a physical fitness instructor"},{"speaker":"Average Joe Finances","startTime":1740.691,"endTime":1744.111,"body":"and things like that as a coach, right?"},{"speaker":"Average Joe Finances","startTime":1744.291,"endTime":1749.061,"body":"How you're able to tie that into finances"},{"speaker":"Average Joe Finances","startTime":1744.291,"endTime":1749.061,"body":"and how like these different things"},{"speaker":"Average Joe Finances","startTime":1749.061,"endTime":1755.033,"body":"can go hand in hand and why it's super"},{"speaker":"Average Joe Finances","startTime":1749.061,"endTime":1755.033,"body":"important that these things are or what"},{"speaker":"Average Joe Finances","startTime":1755.033,"endTime":1757.325,"body":"makes them similar is your mindset, right?"},{"speaker":"Average Joe Finances","startTime":1757.338,"endTime":1760.758,"body":"It's how you look at it and how you"},{"speaker":"Average Joe Finances","startTime":1757.338,"endTime":1760.758,"body":"think about it, how you treat it and"},{"speaker":"Average Joe Finances","startTime":1760.758,"endTime":1762.498,"body":"also your relationship with it, right?"},{"speaker":"Average Joe Finances","startTime":1762.768,"endTime":1765.765,"body":"You can't just go into it, saying,"},{"speaker":"Average Joe Finances","startTime":1762.768,"endTime":1765.765,"body":"oh I'm gonna do ABC and D but"},{"speaker":"Average Joe Finances","startTime":1765.765,"endTime":1766.815,"body":"I'm gonna get to that later."},{"speaker":"Average Joe Finances","startTime":1767.115,"endTime":1769.158,"body":"That's like me, like when I"},{"speaker":"Average Joe Finances","startTime":1767.115,"endTime":1769.158,"body":"say, oh, I'm gonna go for a run."},{"speaker":"Average Joe Finances","startTime":1769.187,"endTime":1771.047,"body":"I'll go later this afternoon"},{"speaker":"Average Joe Finances","startTime":1769.187,"endTime":1771.047,"body":"when I'm done with everything"},{"speaker":"Jerry Fetta","startTime":1771.052,"endTime":1771.407,"body":"Sometime"},{"speaker":"Average Joe Finances","startTime":1771.407,"endTime":1772.517,"body":"And then"},{"speaker":"Average Joe Finances","startTime":1771.407,"endTime":1772.517,"body":"when I'm done with everything,"},{"speaker":"Average Joe Finances","startTime":1772.517,"endTime":1774.803,"body":"I'm like, I'm tired right now."},{"speaker":"Average Joe Finances","startTime":1774.803,"endTime":1776.063,"body":"Not really feeling like it."},{"speaker":"Average Joe Finances","startTime":1776.213,"endTime":1778.928,"body":"So it's the things like that"},{"speaker":"Average Joe Finances","startTime":1776.213,"endTime":1778.928,"body":"can break you out of that habit."},{"speaker":"Average Joe Finances","startTime":1778.928,"endTime":1781.993,"body":"So you gotta, stay disciplined and"},{"speaker":"Average Joe Finances","startTime":1778.928,"endTime":1781.993,"body":"stay focused and stay on track."},{"speaker":"Average Joe Finances","startTime":1781.993,"endTime":1782.852,"body":"So that's huge, man."},{"speaker":"Average Joe Finances","startTime":1782.852,"endTime":1783.512,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":1784.082,"endTime":1784.322,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1784.377,"endTime":1787.569,"body":"So the final question I have, this"},{"speaker":"Average Joe Finances","startTime":1784.377,"endTime":1787.569,"body":"is more of an opinion piece, but."},{"speaker":"Average Joe Finances","startTime":1787.569,"endTime":1789.205,"body":"You're pretty well versed in this stuff."},{"speaker":"Average Joe Finances","startTime":1789.205,"endTime":1792.827,"body":"So obviously you've got, you get"},{"speaker":"Average Joe Finances","startTime":1789.205,"endTime":1792.827,"body":"some great information, some great"},{"speaker":"Average Joe Finances","startTime":1792.827,"endTime":1796.075,"body":"content from somewhere, so you're"},{"speaker":"Average Joe Finances","startTime":1792.827,"endTime":1796.075,"body":"also absorbing stuff yourself."},{"speaker":"Average Joe Finances","startTime":1796.345,"endTime":1799.585,"body":"So do you have a favorite"},{"speaker":"Average Joe Finances","startTime":1796.345,"endTime":1799.585,"body":"business investing or real estate"},{"speaker":"Average Joe Finances","startTime":1799.585,"endTime":1802.165,"body":"related book or podcast or both?"},{"speaker":"Jerry Fetta","startTime":1802.492,"endTime":1806.212,"body":"Yeah, so I, like I said,"},{"speaker":"Jerry Fetta","startTime":1802.492,"endTime":1806.212,"body":"I did a lot of biographies, so I"},{"speaker":"Jerry Fetta","startTime":1806.212,"endTime":1808.252,"body":"wouldn't say I have one particular book."},{"speaker":"Jerry Fetta","startTime":1808.312,"endTime":1811.882,"body":"This might be a cheating answer,"},{"speaker":"Jerry Fetta","startTime":1808.312,"endTime":1811.882,"body":"but I tell people like, go"},{"speaker":"Jerry Fetta","startTime":1811.882,"endTime":1813.452,"body":"learn about old dead people."},{"speaker":"Jerry Fetta","startTime":1813.452,"endTime":1817.775,"body":"Go read from guys like Rockefeller and"},{"speaker":"Jerry Fetta","startTime":1813.452,"endTime":1817.775,"body":"Carnegie and like their biographies,"},{"speaker":"Jerry Fetta","startTime":1817.775,"endTime":1819.215,"body":"cuz you can just dive into the data."},{"speaker":"Jerry Fetta","startTime":1819.262,"endTime":1822.742,"body":"One of the best books I read was"},{"speaker":"Jerry Fetta","startTime":1819.262,"endTime":1822.742,"body":"Gospel of Wealth by Andrew Carnegie."},{"speaker":"Jerry Fetta","startTime":1822.922,"endTime":1825.532,"body":"I would say that would maybe"},{"speaker":"Jerry Fetta","startTime":1822.922,"endTime":1825.532,"body":"be my answer at one point, the"},{"speaker":"Jerry Fetta","startTime":1825.532,"endTime":1826.972,"body":"richest man in the United States."},{"speaker":"Jerry Fetta","startTime":1826.977,"endTime":1830.032,"body":"And he died pennyless because he"},{"speaker":"Jerry Fetta","startTime":1826.977,"endTime":1830.032,"body":"gave literally all of it away."},{"speaker":"Jerry Fetta","startTime":1830.602,"endTime":1833.903,"body":"And before he was wealthy, he"},{"speaker":"Jerry Fetta","startTime":1830.602,"endTime":1833.903,"body":"stated that's what he was gonna do."},{"speaker":"Jerry Fetta","startTime":1833.993,"endTime":1836.143,"body":"He said, I'm going to become the"},{"speaker":"Jerry Fetta","startTime":1833.993,"endTime":1836.143,"body":"wealthiest guys in the world and"},{"speaker":"Jerry Fetta","startTime":1836.148,"endTime":1837.463,"body":"give it every penny of it away."},{"speaker":"Jerry Fetta","startTime":1837.973,"endTime":1842.086,"body":"So when you see that, setting the"},{"speaker":"Jerry Fetta","startTime":1837.973,"endTime":1842.086,"body":"goal, and then you can see how we did"},{"speaker":"Jerry Fetta","startTime":1842.086,"endTime":1844.696,"body":"it all and how we built it and then"},{"speaker":"Jerry Fetta","startTime":1842.086,"endTime":1844.696,"body":"actually followed through on the plan"},{"speaker":"Jerry Fetta","startTime":1844.726,"endTime":1846.166,"body":"like that for me was just beautiful."},{"speaker":"Jerry Fetta","startTime":1846.229,"endTime":1849.078,"body":"That's the goal for what I"},{"speaker":"Jerry Fetta","startTime":1846.229,"endTime":1849.078,"body":"would hope everyone could do."},{"speaker":"Average Joe Finances","startTime":1849.215,"endTime":1849.425,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":1849.495,"endTime":1852.455,"body":"Yeah, Jerry, that, that is great"},{"speaker":"Average Joe Finances","startTime":1849.495,"endTime":1852.455,"body":"recommendation, wrote that one"},{"speaker":"Average Joe Finances","startTime":1852.455,"endTime":1853.835,"body":"down too, Gospel of Wealth."},{"speaker":"Average Joe Finances","startTime":1853.938,"endTime":1857.318,"body":"Definitely go check that out that"},{"speaker":"Average Joe Finances","startTime":1853.938,"endTime":1857.318,"body":"one's getting added to my list as well."},{"speaker":"Average Joe Finances","startTime":1857.318,"endTime":1858.266,"body":"But yeah that's a great point."},{"speaker":"Average Joe Finances","startTime":1858.289,"endTime":1862.044,"body":"Go read the bios of the old dead"},{"speaker":"Average Joe Finances","startTime":1858.289,"endTime":1862.044,"body":"people that have come and gone,"},{"speaker":"Average Joe Finances","startTime":1862.044,"endTime":1864.906,"body":"but have done amazing things"},{"speaker":"Average Joe Finances","startTime":1862.044,"endTime":1864.906,"body":"during their time here on earth."},{"speaker":"Average Joe Finances","startTime":1864.955,"endTime":1865.645,"body":"Okay, great."},{"speaker":"Average Joe Finances","startTime":1865.915,"endTime":1867.475,"body":"So this was fantastic."},{"speaker":"Average Joe Finances","startTime":1867.475,"endTime":1870.322,"body":"That's the end of the final round"},{"speaker":"Average Joe Finances","startTime":1867.475,"endTime":1870.322,"body":"really appreciate your answers."},{"speaker":"Average Joe Finances","startTime":1870.532,"endTime":1873.082,"body":"This has been an absolutely"},{"speaker":"Average Joe Finances","startTime":1870.532,"endTime":1873.082,"body":"awesome interview, man."},{"speaker":"Average Joe Finances","startTime":1873.082,"endTime":1876.545,"body":"But I have one more question for you"},{"speaker":"Average Joe Finances","startTime":1873.082,"endTime":1876.545,"body":"and this one's really important because"},{"speaker":"Average Joe Finances","startTime":1876.545,"endTime":1879.57,"body":"the people that have been listening to"},{"speaker":"Average Joe Finances","startTime":1876.545,"endTime":1879.57,"body":"this show are like, man, I really what"},{"speaker":"Average Joe Finances","startTime":1879.57,"endTime":1883.414,"body":"Jerry's talking about, everything that"},{"speaker":"Average Joe Finances","startTime":1879.57,"endTime":1883.414,"body":"he's all about, I wanna learn more about"},{"speaker":"Average Joe Finances","startTime":1883.414,"endTime":1885.484,"body":"him and the content he's putting out."},{"speaker":"Average Joe Finances","startTime":1885.528,"endTime":1887.841,"body":"If you could share with us,"},{"speaker":"Average Joe Finances","startTime":1885.528,"endTime":1887.841,"body":"where can people find you?"},{"speaker":"Average Joe Finances","startTime":1887.841,"endTime":1890.061,"body":"Do you have a website you could"},{"speaker":"Average Joe Finances","startTime":1887.841,"endTime":1890.061,"body":"share with us any social media"},{"speaker":"Average Joe Finances","startTime":1890.066,"endTime":1891.141,"body":"accounts or anything like that?"},{"speaker":"Jerry Fetta","startTime":1892.111,"endTime":1893.355,"body":"Yeah, so we're everywhere."},{"speaker":"Jerry Fetta","startTime":1893.355,"endTime":1894.986,"body":"I'll go ahead and give you on Instagram."},{"speaker":"Jerry Fetta","startTime":1894.986,"endTime":1896.546,"body":"So that's probably where"},{"speaker":"Jerry Fetta","startTime":1894.986,"endTime":1896.546,"body":"I'm the most active."},{"speaker":"Jerry Fetta","startTime":1896.546,"endTime":1899.876,"body":"If you follow me on Instagram, just"},{"speaker":"Jerry Fetta","startTime":1896.546,"endTime":1899.876,"body":"@jerryfetta, my first and last name."},{"speaker":"Jerry Fetta","startTime":1899.925,"endTime":1902.77,"body":"If you go to our site, I actually"},{"speaker":"Jerry Fetta","startTime":1899.925,"endTime":1902.77,"body":"wrote a book about two years ago,"},{"speaker":"Jerry Fetta","startTime":1902.775,"endTime":1903.91,"body":"and I can give you a free copy."},{"speaker":"Jerry Fetta","startTime":1904.06,"endTime":1905.78,"body":"This's called Blueprint"},{"speaker":"Jerry Fetta","startTime":1904.06,"endTime":1905.78,"body":"to Financial Freedom."},{"speaker":"Jerry Fetta","startTime":1905.781,"endTime":1907.721,"body":"And maybe Mike could drop"},{"speaker":"Jerry Fetta","startTime":1905.781,"endTime":1907.721,"body":"this in the show notes."},{"speaker":"Jerry Fetta","startTime":1907.721,"endTime":1914.022,"body":"If you go to jerryfetta.com/b2f"},{"speaker":"Jerry Fetta","startTime":1907.721,"endTime":1914.022,"body":"says B the letter two, and then F"},{"speaker":"Jerry Fetta","startTime":1914.292,"endTime":1915.792,"body":"sorry, the number 2, and then F."},{"speaker":"Jerry Fetta","startTime":1916.007,"endTime":1918.107,"body":"Promo, and then you can get"},{"speaker":"Jerry Fetta","startTime":1916.007,"endTime":1918.107,"body":"a free copy of the book."},{"speaker":"Jerry Fetta","startTime":1918.377,"endTime":1920.777,"body":"We've got a ton of free"},{"speaker":"Jerry Fetta","startTime":1918.377,"endTime":1920.777,"body":"articles and blogs and different"},{"speaker":"Jerry Fetta","startTime":1920.782,"endTime":1921.797,"body":"things on the website as well."},{"speaker":"Average Joe Finances","startTime":1922.069,"endTime":1922.969,"body":"Yeah, fantastic."},{"speaker":"Average Joe Finances","startTime":1922.969,"endTime":1926.269,"body":"So I, I will definitely have all those"},{"speaker":"Average Joe Finances","startTime":1922.969,"endTime":1926.269,"body":"links in the show notes to make it"},{"speaker":"Average Joe Finances","startTime":1926.269,"endTime":1929.884,"body":"easier for people to find you guys"},{"speaker":"Average Joe Finances","startTime":1926.269,"endTime":1929.884,"body":"and to find you Jerry, but also to"},{"speaker":"Average Joe Finances","startTime":1929.884,"endTime":1933.13,"body":"find wealth dynamics and everything"},{"speaker":"Average Joe Finances","startTime":1929.884,"endTime":1933.13,"body":"that you guys are all about because"},{"speaker":"Average Joe Finances","startTime":1933.159,"endTime":1934.414,"body":"this is really good stuff, man."},{"speaker":"Average Joe Finances","startTime":1934.459,"endTime":1937.939,"body":"And I'm definitely gonna go follow you on"},{"speaker":"Average Joe Finances","startTime":1934.459,"endTime":1937.939,"body":"Instagram as well and absorb some of this"},{"speaker":"Average Joe Finances","startTime":1937.939,"endTime":1941.299,"body":"awesome content that you're putting out"},{"speaker":"Average Joe Finances","startTime":1937.939,"endTime":1941.299,"body":"because that's what it's all about, man."},{"speaker":"Average Joe Finances","startTime":1941.299,"endTime":1944.821,"body":"I'm also a content sponge, especially"},{"speaker":"Average Joe Finances","startTime":1941.299,"endTime":1944.821,"body":"when it's good information."},{"speaker":"Average Joe Finances","startTime":1945.031,"endTime":1947.754,"body":"I love to go out there and"},{"speaker":"Average Joe Finances","startTime":1945.031,"endTime":1947.754,"body":"absorb as much as I possibly can."},{"speaker":"Average Joe Finances","startTime":1947.754,"endTime":1950.801,"body":"Definitely appreciate you taking"},{"speaker":"Average Joe Finances","startTime":1947.754,"endTime":1950.801,"body":"the time to, to chat with me today."},{"speaker":"Average Joe Finances","startTime":1950.874,"endTime":1952.277,"body":"Especially with the time difference."},{"speaker":"Average Joe Finances","startTime":1952.277,"endTime":1954.857,"body":"I know it's getting a little later there,"},{"speaker":"Average Joe Finances","startTime":1952.277,"endTime":1954.857,"body":"even though you still got some sunlight."},{"speaker":"Average Joe Finances","startTime":1954.858,"endTime":1957.926,"body":"But I definitely appreciate you taking"},{"speaker":"Average Joe Finances","startTime":1954.858,"endTime":1957.926,"body":"some time to, to chat with me today."},{"speaker":"Jerry Fetta","startTime":1958.053,"endTime":1958.623,"body":"Absolutely."},{"speaker":"Jerry Fetta","startTime":1958.623,"endTime":1959.413,"body":"Thanks for having me on."},{"speaker":"Average Joe Finances","startTime":1959.853,"endTime":1960.453,"body":"All right, brother."},{"speaker":"Average Joe Finances","startTime":1960.453,"endTime":1960.813,"body":"Aloha."}]}