{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.103,"endTime":1.183,"body":"Hey,"},{"speaker":"Average Joe Finances","startTime":0.103,"endTime":1.183,"body":"how's it going everybody?"},{"speaker":"Average Joe Finances","startTime":1.183,"endTime":6.224,"body":"So today's guest is David Torrence"},{"speaker":"Average Joe Finances","startTime":1.183,"endTime":6.224,"body":", AKA king David, and he is the"},{"speaker":"Average Joe Finances","startTime":6.224,"endTime":11.234,"body":"CEO of throne CG, an investing"},{"speaker":"Average Joe Finances","startTime":6.224,"endTime":11.234,"body":"consulting firm, and the founder of"},{"speaker":"Average Joe Finances","startTime":11.234,"endTime":13.244,"body":"KP cares foundation incorporated."},{"speaker":"Average Joe Finances","startTime":13.453,"endTime":16.814,"body":"A nonprofit geared towards assisting"},{"speaker":"Average Joe Finances","startTime":13.453,"endTime":16.814,"body":"under-resourced communities"},{"speaker":"Average Joe Finances","startTime":17.054,"endTime":18.494,"body":"in bridging the wealth gap."},{"speaker":"Average Joe Finances","startTime":19.323,"endTime":22.744,"body":"As a first-generation college graduate"},{"speaker":"Average Joe Finances","startTime":19.323,"endTime":22.744,"body":"from university of central Florida,"},{"speaker":"Average Joe Finances","startTime":22.744,"endTime":26.194,"body":"where he received his bachelor's degree"},{"speaker":"Average Joe Finances","startTime":22.744,"endTime":26.194,"body":"and his master's degree at Liberty"},{"speaker":"Average Joe Finances","startTime":26.194,"endTime":31.383,"body":"university David's passion is to serve"},{"speaker":"Average Joe Finances","startTime":26.194,"endTime":31.383,"body":"and be of service to his community"},{"speaker":"Average Joe Finances","startTime":31.984,"endTime":34.024,"body":"as an investor and philanthropist."},{"speaker":"Average Joe Finances","startTime":34.309,"endTime":37.849,"body":"His mission is to give back by showing"},{"speaker":"Average Joe Finances","startTime":34.309,"endTime":37.849,"body":"minorities how to gain financial"},{"speaker":"Average Joe Finances","startTime":37.849,"endTime":39.589,"body":"freedom through the stock market."},{"speaker":"Average Joe Finances","startTime":40.009,"endTime":43.309,"body":"And I want to add that something I"},{"speaker":"Average Joe Finances","startTime":40.009,"endTime":43.309,"body":"have from just a conversation with him"},{"speaker":"Average Joe Finances","startTime":43.309,"endTime":47.255,"body":"before I hit the record button, is that"},{"speaker":"Average Joe Finances","startTime":43.309,"endTime":47.255,"body":"David, and we'll talk about this too."},{"speaker":"Average Joe Finances","startTime":47.315,"endTime":52.925,"body":"King David here is currently retired"},{"speaker":"Average Joe Finances","startTime":47.315,"endTime":52.925,"body":"at a young age, so really excited"},{"speaker":"Average Joe Finances","startTime":52.925,"endTime":53.975,"body":"to have you on the show today."},{"speaker":"Average Joe Finances","startTime":53.975,"endTime":55.563,"body":"Thank you so much for talking with me."},{"speaker":"Average Joe Finances","startTime":56.133,"endTime":56.343,"body":"Thanks,"},{"speaker":"David Torrence","startTime":56.343,"endTime":56.583,"body":"Mike."},{"speaker":"David Torrence","startTime":56.583,"endTime":57.693,"body":"I appreciate it for being here."},{"speaker":"David Torrence","startTime":57.833,"endTime":59.493,"body":"I'm really looking forward"},{"speaker":"David Torrence","startTime":57.833,"endTime":59.493,"body":"to the conversation."},{"speaker":"Average Joe Finances","startTime":60.213,"endTime":60.843,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":60.921,"endTime":64.041,"body":"Hey, the first thing I'd like to ask,"},{"speaker":"Average Joe Finances","startTime":60.921,"endTime":64.041,"body":"it's what I ask every guest that comes"},{"speaker":"Average Joe Finances","startTime":64.041,"endTime":68.994,"body":"on the show and, I shared a little bit of"},{"speaker":"Average Joe Finances","startTime":64.041,"endTime":68.994,"body":"your background and just, just wave tops."},{"speaker":"Average Joe Finances","startTime":69.204,"endTime":71.394,"body":"So I'd like to get a little"},{"speaker":"Average Joe Finances","startTime":69.204,"endTime":71.394,"body":"bit deeper into the ocean here."},{"speaker":"Average Joe Finances","startTime":71.394,"endTime":74.394,"body":"Can you explain to us a little"},{"speaker":"Average Joe Finances","startTime":71.394,"endTime":74.394,"body":"bit, or just share a little bit"},{"speaker":"Average Joe Finances","startTime":74.394,"endTime":75.654,"body":"more about yourself and your story?"},{"speaker":"Average Joe Finances","startTime":75.654,"endTime":77.094,"body":"How did this all get started for you?"},{"speaker":"David Torrence","startTime":78.054,"endTime":81.421,"body":"Yeah my career"},{"speaker":"David Torrence","startTime":78.054,"endTime":81.421,"body":"prior to this was in sports."},{"speaker":"David Torrence","startTime":81.423,"endTime":84.243,"body":"I was the director of sprint and"},{"speaker":"David Torrence","startTime":81.423,"endTime":84.243,"body":"performance at a private Christian."},{"speaker":"David Torrence","startTime":84.304,"endTime":88.41,"body":"So I've trained athletes for"},{"speaker":"David Torrence","startTime":84.304,"endTime":88.41,"body":"the good part of my career."},{"speaker":"David Torrence","startTime":88.41,"endTime":90.743,"body":"I've trained players, such as"},{"speaker":"David Torrence","startTime":88.41,"endTime":90.743,"body":"Michael Beasley played for the"},{"speaker":"David Torrence","startTime":90.743,"endTime":93.192,"body":"Miami heat on Tyreek Evans."},{"speaker":"David Torrence","startTime":93.217,"endTime":96.427,"body":"I played, I've trained a lot of collegiate"},{"speaker":"David Torrence","startTime":93.217,"endTime":96.427,"body":"athletes that come out of Florida,"},{"speaker":"David Torrence","startTime":96.427,"endTime":98.917,"body":"such as Sam Griffin, the Middlebrook."},{"speaker":"David Torrence","startTime":98.984,"endTime":101.353,"body":"These are guys who have gone"},{"speaker":"David Torrence","startTime":98.984,"endTime":101.353,"body":"deep one to play basketball."},{"speaker":"David Torrence","startTime":101.353,"endTime":105.382,"body":"So that was my initial background,"},{"speaker":"David Torrence","startTime":101.353,"endTime":105.382,"body":"but I always knew that career"},{"speaker":"David Torrence","startTime":105.382,"endTime":106.822,"body":"was not going to be a new."},{"speaker":"David Torrence","startTime":107.557,"endTime":109.697,"body":"For me to have the"},{"speaker":"David Torrence","startTime":107.557,"endTime":109.697,"body":"lifestyle in which I wanted."},{"speaker":"David Torrence","startTime":109.697,"endTime":110.488,"body":"Why do you ask?"},{"speaker":"David Torrence","startTime":110.526,"endTime":113.916,"body":"Because when you're training and you're"},{"speaker":"David Torrence","startTime":110.526,"endTime":113.916,"body":"training and you're trading your time"},{"speaker":"David Torrence","startTime":113.916,"endTime":117.199,"body":"for dollars, and there's all your"},{"speaker":"David Torrence","startTime":113.916,"endTime":117.199,"body":"cap on how many hours you can work in"},{"speaker":"David Torrence","startTime":117.199,"endTime":118.709,"body":"the day there for your money as cats."},{"speaker":"David Torrence","startTime":118.709,"endTime":123.811,"body":"So I knew I had to find a way in order"},{"speaker":"David Torrence","startTime":118.709,"endTime":123.811,"body":"to live the last time, which I wanted"},{"speaker":"David Torrence","startTime":123.811,"endTime":127.321,"body":"to live and have some sense of freedom"},{"speaker":"David Torrence","startTime":123.811,"endTime":127.321,"body":"and not feel like I was always going to"},{"speaker":"David Torrence","startTime":127.321,"endTime":129.817,"body":"have to train someone and live that last."},{"speaker":"David Torrence","startTime":129.957,"endTime":131.257,"body":"Do I love what I did?"},{"speaker":"David Torrence","startTime":131.507,"endTime":134.947,"body":"It wasn't going to be sustainable for the"},{"speaker":"David Torrence","startTime":131.507,"endTime":134.947,"body":"type of person I knew I want it to be."},{"speaker":"David Torrence","startTime":135.247,"endTime":138.971,"body":"So with that in mind I took up"},{"speaker":"David Torrence","startTime":135.247,"endTime":138.971,"body":"investing and the simply put my"},{"speaker":"David Torrence","startTime":138.971,"endTime":140.809,"body":"cousin, who's a who's an analyst."},{"speaker":"David Torrence","startTime":140.819,"endTime":142.649,"body":"It was a financial analyst mentor."},{"speaker":"David Torrence","startTime":142.681,"endTime":144.991,"body":"For awhile and got me started."},{"speaker":"David Torrence","startTime":145.021,"endTime":149.311,"body":"And then once I made my first little"},{"speaker":"David Torrence","startTime":145.021,"endTime":149.311,"body":"piece of money, I got hooked because I"},{"speaker":"David Torrence","startTime":149.311,"endTime":153.781,"body":"realized I made a thousand dollars and I"},{"speaker":"David Torrence","startTime":149.311,"endTime":153.781,"body":"didn't do as took me two minutes to do it."},{"speaker":"David Torrence","startTime":153.781,"endTime":155.011,"body":"And I didn't have to watch it happen."},{"speaker":"David Torrence","startTime":155.011,"endTime":157.051,"body":"I came back to my phone and"},{"speaker":"David Torrence","startTime":155.011,"endTime":157.051,"body":"that happened once in a way."},{"speaker":"David Torrence","startTime":157.831,"endTime":161.851,"body":"And from now on, I went on a journey"},{"speaker":"David Torrence","startTime":157.831,"endTime":161.851,"body":"just to find out how can I scale this?"},{"speaker":"David Torrence","startTime":162.361,"endTime":163.591,"body":"How could I learn more?"},{"speaker":"David Torrence","startTime":164.161,"endTime":167.611,"body":"And how can I make enough to match"},{"speaker":"David Torrence","startTime":164.161,"endTime":167.611,"body":"what I was making at my current job?"},{"speaker":"David Torrence","startTime":167.641,"endTime":168.371,"body":"And when I was able to."},{"speaker":"David Torrence","startTime":169.486,"endTime":173.427,"body":"W in a week, what I made in a"},{"speaker":"David Torrence","startTime":169.486,"endTime":173.427,"body":"month, I knew I have something here."},{"speaker":"David Torrence","startTime":173.907,"endTime":176.337,"body":"And then from there it was about"},{"speaker":"David Torrence","startTime":173.907,"endTime":176.337,"body":"being able to do it over a year."},{"speaker":"David Torrence","startTime":176.337,"endTime":177.027,"body":"Timeframe."},{"speaker":"David Torrence","startTime":177.347,"endTime":180.027,"body":"Once I did over your time"},{"speaker":"David Torrence","startTime":177.347,"endTime":180.027,"body":"for myself, I'm gone."},{"speaker":"David Torrence","startTime":180.087,"endTime":181.167,"body":"And two years later,"},{"speaker":"Average Joe Finances","startTime":183.762,"endTime":184.162,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":184.162,"endTime":184.915,"body":"That's amazing."},{"speaker":"Average Joe Finances","startTime":184.945,"endTime":188.155,"body":"So it sounds like you were able"},{"speaker":"Average Joe Finances","startTime":184.945,"endTime":188.155,"body":"to do this in such a short time"},{"speaker":"Average Joe Finances","startTime":188.155,"endTime":192.424,"body":"period, and you found, you found a"},{"speaker":"Average Joe Finances","startTime":188.155,"endTime":192.424,"body":"way to stop trading your time for"},{"speaker":"Average Joe Finances","startTime":192.424,"endTime":193.774,"body":"dollars, like you said earlier."},{"speaker":"Average Joe Finances","startTime":193.805,"endTime":197.195,"body":"So I'm sitting here taking down"},{"speaker":"Average Joe Finances","startTime":193.805,"endTime":197.195,"body":"notes as you're talking and just in"},{"speaker":"Average Joe Finances","startTime":197.195,"endTime":199.985,"body":"your intro alone, I've already got"},{"speaker":"Average Joe Finances","startTime":197.195,"endTime":199.985,"body":"some really great golden nuggets"},{"speaker":"Average Joe Finances","startTime":199.985,"endTime":201.545,"body":"here, which is absolutely amazing."},{"speaker":"Average Joe Finances","startTime":201.589,"endTime":202.815,"body":"Because you're absolutely right."},{"speaker":"Average Joe Finances","startTime":202.815,"endTime":203.386,"body":"You're time."},{"speaker":"Average Joe Finances","startTime":203.996,"endTime":205.046,"body":"In the day is cat."},{"speaker":"Average Joe Finances","startTime":205.095,"endTime":208.198,"body":"We've only got 24 hours and somewhere"},{"speaker":"Average Joe Finances","startTime":205.095,"endTime":208.198,"body":"in there you need to eat and sleep"},{"speaker":"Average Joe Finances","startTime":208.198,"endTime":210.422,"body":"and just take care of yourself"},{"speaker":"Average Joe Finances","startTime":208.198,"endTime":210.422,"body":"and have some personal time."},{"speaker":"Average Joe Finances","startTime":210.491,"endTime":215.934,"body":"So how do you keep, keep the money"},{"speaker":"Average Joe Finances","startTime":210.491,"endTime":215.934,"body":"flowing in where you're not trading all"},{"speaker":"Average Joe Finances","startTime":215.934,"endTime":220.27,"body":"that time for money, when you started"},{"speaker":"Average Joe Finances","startTime":215.934,"endTime":220.27,"body":"off in a pretty great career field,"},{"speaker":"Average Joe Finances","startTime":220.299,"endTime":223.059,"body":"and it sounds like you had really well,"},{"speaker":"Average Joe Finances","startTime":220.299,"endTime":223.059,"body":"especially with some of the athletes"},{"speaker":"Average Joe Finances","startTime":223.059,"endTime":224.629,"body":"that you train, which is amazing."},{"speaker":"Average Joe Finances","startTime":224.679,"endTime":227.169,"body":"But you realize as much"},{"speaker":"Average Joe Finances","startTime":224.679,"endTime":227.169,"body":"as you loved what you did."},{"speaker":"Average Joe Finances","startTime":227.879,"endTime":231.959,"body":"You had to change the game a bit,"},{"speaker":"Average Joe Finances","startTime":227.879,"endTime":231.959,"body":"to be able to move on in life"},{"speaker":"Average Joe Finances","startTime":231.982,"endTime":234.127,"body":"and, get to the point where yet at"},{"speaker":"Average Joe Finances","startTime":231.982,"endTime":234.127,"body":"right now, where you're retired."},{"speaker":"Average Joe Finances","startTime":234.148,"endTime":236.428,"body":"So I wanted to ask, cause we didn't"},{"speaker":"Average Joe Finances","startTime":234.148,"endTime":236.428,"body":"talk about this before we recorded,"},{"speaker":"Average Joe Finances","startTime":236.428,"endTime":237.538,"body":"but how old are you right now?"},{"speaker":"Average Joe Finances","startTime":238.168,"endTime":241.528,"body":"I'm 27, 27 years old people."},{"speaker":"Average Joe Finances","startTime":241.528,"endTime":242.188,"body":"You hear that?"},{"speaker":"Average Joe Finances","startTime":242.578,"endTime":243.463,"body":"27 years old."},{"speaker":"Average Joe Finances","startTime":243.463,"endTime":244.305,"body":"That's amazing, man."},{"speaker":"Average Joe Finances","startTime":244.381,"endTime":246.691,"body":"What are you currently doing right now?"},{"speaker":"Average Joe Finances","startTime":246.691,"endTime":250.261,"body":"So now that you've reached this spot"},{"speaker":"Average Joe Finances","startTime":246.691,"endTime":250.261,"body":"of financial independence, what are"},{"speaker":"Average Joe Finances","startTime":250.261,"endTime":251.784,"body":"you doing right now in this journey?"},{"speaker":"Average Joe Finances","startTime":251.802,"endTime":252.852,"body":"What is it that sustained?"},{"speaker":"David Torrence","startTime":254.677,"endTime":256.087,"body":"From a"},{"speaker":"David Torrence","startTime":254.677,"endTime":256.087,"body":"financial standpoint."},{"speaker":"David Torrence","startTime":256.177,"endTime":256.417,"body":"Yeah."},{"speaker":"David Torrence","startTime":257.167,"endTime":261.583,"body":"So from a financial standpoint my"},{"speaker":"David Torrence","startTime":257.167,"endTime":261.583,"body":"ability to trade and also invest,"},{"speaker":"David Torrence","startTime":261.633,"endTime":262.859,"body":"there are two different things."},{"speaker":"David Torrence","startTime":262.863,"endTime":265.413,"body":"A lot of people think investing"},{"speaker":"David Torrence","startTime":262.863,"endTime":265.413,"body":"and trading are the same thing."},{"speaker":"David Torrence","startTime":265.413,"endTime":265.803,"body":"They're not."},{"speaker":"David Torrence","startTime":266.103,"endTime":267.843,"body":"So I have long-term investments."},{"speaker":"David Torrence","startTime":268.143,"endTime":271.553,"body":"They're a self-directed Roth as"},{"speaker":"David Torrence","startTime":268.143,"endTime":271.553,"body":"well as a individual brokerage."},{"speaker":"David Torrence","startTime":271.622,"endTime":273.58,"body":"And then that one cool."},{"speaker":"David Torrence","startTime":273.61,"endTime":274.21,"body":"Snip out."},{"speaker":"David Torrence","startTime":274.27,"endTime":275.29,"body":"I just don't hear it really quick."},{"speaker":"David Torrence","startTime":275.29,"endTime":279.46,"body":"I never going to get into it as I've"},{"speaker":"David Torrence","startTime":275.29,"endTime":279.46,"body":"leveraged my job to get to where I'm at."},{"speaker":"David Torrence","startTime":279.46,"endTime":282.01,"body":"And I go more into detail"},{"speaker":"David Torrence","startTime":279.46,"endTime":282.01,"body":"about that one on the twofold"},{"speaker":"David Torrence","startTime":282.123,"endTime":284.133,"body":"standpoint, but also on my trade."},{"speaker":"David Torrence","startTime":284.163,"endTime":286.624,"body":"I trade each morning at eight o'clock."},{"speaker":"David Torrence","startTime":286.624,"endTime":291.015,"body":"I trade the futures market which is the"},{"speaker":"David Torrence","startTime":286.624,"endTime":291.015,"body":"global market and I trade the bond market."},{"speaker":"David Torrence","startTime":291.015,"endTime":292.894,"body":"So I'm able to make pretty much my."},{"speaker":"David Torrence","startTime":294.019,"endTime":297.169,"body":"My living in 20 minutes in the morning."},{"speaker":"David Torrence","startTime":297.169,"endTime":300.769,"body":"So from eight 20 to about eight"},{"speaker":"David Torrence","startTime":297.169,"endTime":300.769,"body":"40, I'm pretty much making my money"},{"speaker":"David Torrence","startTime":300.769,"endTime":303.319,"body":"for the month and then I'm done."},{"speaker":"David Torrence","startTime":303.709,"endTime":306.769,"body":"And then from there, everything"},{"speaker":"David Torrence","startTime":303.709,"endTime":306.769,"body":"else I do is commit it towards my"},{"speaker":"David Torrence","startTime":306.769,"endTime":309.199,"body":"consulting firm or my nonprofit."},{"speaker":"David Torrence","startTime":309.229,"endTime":312.199,"body":"And that's pretty much what sustains"},{"speaker":"David Torrence","startTime":309.229,"endTime":312.199,"body":"me in terms of the financial"},{"speaker":"David Torrence","startTime":312.199,"endTime":313.519,"body":"standpoint and also my time."},{"speaker":"Average Joe Finances","startTime":314.359,"endTime":314.449,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":314.809,"endTime":315.019,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":315.042,"endTime":315.865,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":315.916,"endTime":320.506,"body":"That's a very minuscule amount"},{"speaker":"Average Joe Finances","startTime":315.916,"endTime":320.506,"body":"of time in the day for you to"},{"speaker":"Average Joe Finances","startTime":320.506,"endTime":322.156,"body":"make the income that you live on."},{"speaker":"Average Joe Finances","startTime":322.996,"endTime":324.166,"body":"And you're such a short period."},{"speaker":"Average Joe Finances","startTime":324.198,"endTime":325.038,"body":"That's fantastic."},{"speaker":"David Torrence","startTime":325.728,"endTime":326.078,"body":"Yeah."},{"speaker":"David Torrence","startTime":326.178,"endTime":327.294,"body":"It's the power of investing."},{"speaker":"David Torrence","startTime":327.294,"endTime":331.124,"body":"There's so many ways to invest, as we"},{"speaker":"David Torrence","startTime":327.294,"endTime":331.124,"body":"know is just the one that I found best"},{"speaker":"David Torrence","startTime":331.124,"endTime":335.644,"body":"that suits me and that I have an expertise"},{"speaker":"David Torrence","startTime":331.124,"endTime":335.644,"body":"in, but there's so many other ways to."},{"speaker":"Average Joe Finances","startTime":337.504,"endTime":338.104,"body":"Yeah, right on."},{"speaker":"Average Joe Finances","startTime":338.104,"endTime":340.87,"body":"So I have to ask it"},{"speaker":"Average Joe Finances","startTime":338.104,"endTime":340.87,"body":"was your cousin, right?"},{"speaker":"Average Joe Finances","startTime":340.87,"endTime":343.767,"body":"Your cousin, that was a"},{"speaker":"Average Joe Finances","startTime":340.87,"endTime":343.767,"body":"is a financial analyst."},{"speaker":"Average Joe Finances","startTime":344.327,"endTime":345.447,"body":"So he's a financial analyst."},{"speaker":"Average Joe Finances","startTime":345.447,"endTime":350.921,"body":"And what made you go to him to say,"},{"speaker":"Average Joe Finances","startTime":345.447,"endTime":350.921,"body":"Hey, because I want to, learn how to"},{"speaker":"Average Joe Finances","startTime":350.921,"endTime":353.891,"body":"do ABC and D like, how do I do this?"},{"speaker":"Average Joe Finances","startTime":353.891,"endTime":355.541,"body":"What motivated you to do that?"},{"speaker":"Average Joe Finances","startTime":356.081,"endTime":356.561,"body":"So"},{"speaker":"David Torrence","startTime":356.561,"endTime":358.601,"body":"initially he"},{"speaker":"David Torrence","startTime":356.561,"endTime":358.601,"body":"tried to teach me when I was in."},{"speaker":"David Torrence","startTime":359.466,"endTime":363.039,"body":"'cause when I was in college and I was"},{"speaker":"David Torrence","startTime":359.466,"endTime":363.039,"body":"working in the hospital doing I worked"},{"speaker":"David Torrence","startTime":363.039,"endTime":366.189,"body":"in physical therapy for three years"},{"speaker":"David Torrence","startTime":363.039,"endTime":366.189,"body":"and I was doing sports medicine rehab."},{"speaker":"David Torrence","startTime":366.189,"endTime":369.499,"body":"There was an older gentleman that told me"},{"speaker":"David Torrence","startTime":366.189,"endTime":369.499,"body":"Hey young man this is gonna sound weird,"},{"speaker":"David Torrence","startTime":369.499,"endTime":371.509,"body":"but you should really get into investing."},{"speaker":"David Torrence","startTime":371.869,"endTime":373.399,"body":"You'll love yourself for it later."},{"speaker":"David Torrence","startTime":374.119,"endTime":374.809,"body":"I was like, all right."},{"speaker":"David Torrence","startTime":374.839,"endTime":377.876,"body":"And then, I had a conversation with my dad"},{"speaker":"David Torrence","startTime":374.839,"endTime":377.876,"body":"and my dad was like, your cousin, he just"},{"speaker":"David Torrence","startTime":378.266,"endTime":380.636,"body":"finishes these guys, his second masters."},{"speaker":"David Torrence","startTime":381.546,"endTime":383.336,"body":"And financing, that's what he's doing."},{"speaker":"David Torrence","startTime":383.336,"endTime":386.314,"body":"So I contacted them and he"},{"speaker":"David Torrence","startTime":383.336,"endTime":386.314,"body":"tried to tell me about it then."},{"speaker":"David Torrence","startTime":386.314,"endTime":389.074,"body":"And of course I got interested."},{"speaker":"David Torrence","startTime":389.074,"endTime":390.713,"body":"I bought a book, I didn't finish it."},{"speaker":"David Torrence","startTime":390.735,"endTime":392.275,"body":"bought a stock, it was a penny stock."},{"speaker":"David Torrence","startTime":392.275,"endTime":393.475,"body":"I didn't make any money off of that."},{"speaker":"David Torrence","startTime":393.475,"endTime":394.555,"body":"Lost a hundred bucks."},{"speaker":"David Torrence","startTime":394.599,"endTime":396.083,"body":"And then I don't know what happened."},{"speaker":"David Torrence","startTime":396.083,"endTime":399.503,"body":"I was just moved to find a way to"},{"speaker":"David Torrence","startTime":396.083,"endTime":399.503,"body":"make money without having to work."},{"speaker":"David Torrence","startTime":399.503,"endTime":403.043,"body":"And I was like Let me try investing"},{"speaker":"David Torrence","startTime":399.503,"endTime":403.043,"body":"again so far, I'm only back to my cousin."},{"speaker":"David Torrence","startTime":403.073,"endTime":405.412,"body":"He was like, blew me off a"},{"speaker":"David Torrence","startTime":403.073,"endTime":405.412,"body":"little bit because I didn't"},{"speaker":"David Torrence","startTime":405.412,"endTime":406.642,"body":"take it seriously at first time."},{"speaker":"David Torrence","startTime":406.642,"endTime":408.197,"body":"And he tested me."},{"speaker":"David Torrence","startTime":408.197,"endTime":410.507,"body":"He said he gave me a few things"},{"speaker":"David Torrence","startTime":408.197,"endTime":410.507,"body":"to do and gave me two books to"},{"speaker":"David Torrence","startTime":410.507,"endTime":412.086,"body":"read and the video of the watch."},{"speaker":"David Torrence","startTime":412.596,"endTime":414.876,"body":"And he said, come see"},{"speaker":"David Torrence","startTime":412.596,"endTime":414.876,"body":"me after you did that."},{"speaker":"David Torrence","startTime":415.416,"endTime":418.536,"body":"And it took me a while to me about"},{"speaker":"David Torrence","startTime":415.416,"endTime":418.536,"body":"two months, and then I did it."},{"speaker":"David Torrence","startTime":418.536,"endTime":419.736,"body":"And then from there, the rest is history."},{"speaker":"David Torrence","startTime":419.771,"endTime":421.661,"body":"He taught me everything I"},{"speaker":"David Torrence","startTime":419.771,"endTime":421.661,"body":"need to know to get started."},{"speaker":"David Torrence","startTime":421.661,"endTime":423.871,"body":"And from there, he didn't have"},{"speaker":"David Torrence","startTime":421.661,"endTime":423.871,"body":"to teach me anymore because."},{"speaker":"Average Joe Finances","startTime":425.481,"endTime":425.811,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":426.201,"endTime":427.881,"body":"Can I ask you what those two books were?"},{"speaker":"Average Joe Finances","startTime":428.691,"endTime":428.931,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":428.931,"endTime":429.231,"body":"One"},{"speaker":"David Torrence","startTime":429.231,"endTime":431.211,"body":"was the intelligent"},{"speaker":"David Torrence","startTime":429.231,"endTime":431.211,"body":"best about Benjamin Graham."},{"speaker":"David Torrence","startTime":431.211,"endTime":433.755,"body":"The other one was was a"},{"speaker":"David Torrence","startTime":431.211,"endTime":433.755,"body":"book by Warren buffet."},{"speaker":"David Torrence","startTime":434.235,"endTime":435.015,"body":"I don't know a book."},{"speaker":"David Torrence","startTime":435.015,"endTime":440.395,"body":"It was in the video was on the"},{"speaker":"David Torrence","startTime":435.015,"endTime":440.395,"body":"economic machine by Ray Dalio who runs"},{"speaker":"David Torrence","startTime":440.395,"endTime":442.045,"body":"Bridgewater's head fund, hedge fund"},{"speaker":"Average Joe Finances","startTime":443.035,"endTime":444.175,"body":"the economic machine."},{"speaker":"David Torrence","startTime":444.895,"endTime":446.245,"body":"Yeah,"},{"speaker":"David Torrence","startTime":444.895,"endTime":446.245,"body":"the via economic machine."},{"speaker":"David Torrence","startTime":446.245,"endTime":447.535,"body":"Yeah, that video."},{"speaker":"David Torrence","startTime":447.535,"endTime":449.348,"body":"And then intelligent"},{"speaker":"David Torrence","startTime":447.535,"endTime":449.348,"body":"investor by Benjamin Graham."},{"speaker":"David Torrence","startTime":449.348,"endTime":450.218,"body":"Who was Warren Buffett's."},{"speaker":"David Torrence","startTime":451.833,"endTime":453.603,"body":"Okay is like the king of value."},{"speaker":"Average Joe Finances","startTime":454.888,"endTime":457.636,"body":"So did you"},{"speaker":"Average Joe Finances","startTime":454.888,"endTime":457.636,"body":"have to like really nag your cousin"},{"speaker":"Average Joe Finances","startTime":457.636,"endTime":460.938,"body":"and just pursue him a bunch because"},{"speaker":"Average Joe Finances","startTime":457.636,"endTime":460.938,"body":"you, you said he wasn't taking you"},{"speaker":"Average Joe Finances","startTime":460.938,"endTime":463.839,"body":"seriously at first because you,"},{"speaker":"Average Joe Finances","startTime":460.938,"endTime":463.839,"body":"you blew him off the first time."},{"speaker":"Average Joe Finances","startTime":463.839,"endTime":466.032,"body":"So how often did you"},{"speaker":"Average Joe Finances","startTime":463.839,"endTime":466.032,"body":"have to like, hit him up?"},{"speaker":"Average Joe Finances","startTime":466.065,"endTime":467.69,"body":"Hey man, like I'm serious"},{"speaker":"Average Joe Finances","startTime":466.065,"endTime":467.69,"body":"this time let's do"},{"speaker":"David Torrence","startTime":467.69,"endTime":467.93,"body":"this."},{"speaker":"David Torrence","startTime":468.8,"endTime":471.826,"body":"And I started like sending him a"},{"speaker":"David Torrence","startTime":468.8,"endTime":471.826,"body":"note pictures of me taking notes."},{"speaker":"David Torrence","startTime":471.976,"endTime":473.766,"body":"He that's when he started"},{"speaker":"David Torrence","startTime":471.976,"endTime":473.766,"body":"taking me a little bit serious."},{"speaker":"David Torrence","startTime":473.766,"endTime":474.496,"body":"It wasn't that much."},{"speaker":"David Torrence","startTime":474.526,"endTime":477.266,"body":"Like I like, cause he lives in California,"},{"speaker":"David Torrence","startTime":474.526,"endTime":477.266,"body":"so there's a time difference too."},{"speaker":"David Torrence","startTime":477.266,"endTime":478.238,"body":"Yeah, I hit him up."},{"speaker":"David Torrence","startTime":478.238,"endTime":480.337,"body":"I'll text him and he'll just"},{"speaker":"David Torrence","startTime":478.238,"endTime":480.337,"body":"say, all right, good job."},{"speaker":"David Torrence","startTime":480.367,"endTime":480.817,"body":"Keep it up."},{"speaker":"David Torrence","startTime":480.847,"endTime":481.717,"body":"But did you do this?"},{"speaker":"David Torrence","startTime":481.727,"endTime":483.007,"body":"I'm like not finished the book yet."},{"speaker":"David Torrence","startTime":483.007,"endTime":483.877,"body":"We'll finish the book."},{"speaker":"David Torrence","startTime":483.877,"endTime":487.496,"body":"And it was it was that back and forth"},{"speaker":"David Torrence","startTime":483.877,"endTime":487.496,"body":"for a while but initially I was actually,"},{"speaker":"David Torrence","startTime":487.496,"endTime":489.836,"body":"I actually had a little bit, I was"},{"speaker":"David Torrence","startTime":487.496,"endTime":489.836,"body":"like, yo, just tell me what plays to"},{"speaker":"David Torrence","startTime":489.836,"endTime":490.866,"body":"get into what I'm trying to learn."},{"speaker":"David Torrence","startTime":490.866,"endTime":491.85,"body":"Tell me where to put my money."},{"speaker":"David Torrence","startTime":491.85,"endTime":496.615,"body":"And he was like, no, He was like,"},{"speaker":"David Torrence","startTime":491.85,"endTime":496.615,"body":"figure it out, learn, and then"},{"speaker":"David Torrence","startTime":496.785,"endTime":497.965,"body":"we'll have that conversation."},{"speaker":"David Torrence","startTime":498.175,"endTime":500.035,"body":"And he did help me out"},{"speaker":"David Torrence","startTime":498.175,"endTime":500.035,"body":"from my first investment."},{"speaker":"David Torrence","startTime":500.035,"endTime":503.237,"body":"I never forget it was an"},{"speaker":"David Torrence","startTime":500.035,"endTime":503.237,"body":"options trade for square."},{"speaker":"David Torrence","startTime":504.077,"endTime":504.587,"body":"It was square."},{"speaker":"David Torrence","startTime":504.687,"endTime":511.4,"body":"I did a short term option call"},{"speaker":"David Torrence","startTime":504.687,"endTime":511.4,"body":"during their Q Q1 earnings and"},{"speaker":"David Torrence","startTime":511.4,"endTime":514.349,"body":"their stock price, like jumped 10"},{"speaker":"David Torrence","startTime":511.4,"endTime":514.349,"body":"bucks on the option side of them."},{"speaker":"David Torrence","startTime":514.489,"endTime":515.336,"body":"He exponential."},{"speaker":"David Torrence","startTime":515.336,"endTime":517.256,"body":"So it was almost like a"},{"speaker":"David Torrence","startTime":515.336,"endTime":517.256,"body":"thousand dollar return."},{"speaker":"David Torrence","startTime":517.256,"endTime":519.296,"body":"I had guy and that's when I got."},{"speaker":"Average Joe Finances","startTime":520.451,"endTime":520.961,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":521.051,"endTime":521.984,"body":"Yeah, that's fantastic."},{"speaker":"Average Joe Finances","startTime":521.984,"endTime":524.787,"body":"I think one of the key things to"},{"speaker":"Average Joe Finances","startTime":521.984,"endTime":524.787,"body":"take away from this entire thing is"},{"speaker":"Average Joe Finances","startTime":524.787,"endTime":528.687,"body":"just, you are, you were persistent"},{"speaker":"Average Joe Finances","startTime":524.787,"endTime":528.687,"body":"and you educated yourself and that's"},{"speaker":"Average Joe Finances","startTime":528.687,"endTime":532.737,"body":"the biggest thing is making sure that"},{"speaker":"Average Joe Finances","startTime":528.687,"endTime":532.737,"body":"you educate yourself before you go"},{"speaker":"Average Joe Finances","startTime":532.737,"endTime":534.057,"body":"and start dumping money in because."},{"speaker":"Average Joe Finances","startTime":534.117,"endTime":535.407,"body":"You gave a good example, right?"},{"speaker":"Average Joe Finances","startTime":535.407,"endTime":539.386,"body":"The first time you invested, you bought"},{"speaker":"Average Joe Finances","startTime":535.407,"endTime":539.386,"body":"into a penny stock, lost a hundred bucks."},{"speaker":"Average Joe Finances","startTime":540.046,"endTime":542.926,"body":"And you're probably like, ah, I"},{"speaker":"Average Joe Finances","startTime":540.046,"endTime":542.926,"body":"don't know if this is for me, man."},{"speaker":"Average Joe Finances","startTime":543.027,"endTime":544.647,"body":"I've lost some money on penny stocks too."},{"speaker":"Average Joe Finances","startTime":544.694,"endTime":547.295,"body":"It, it happens, but that's just, that"},{"speaker":"Average Joe Finances","startTime":544.694,"endTime":547.295,"body":"was stuff I was playing around with."},{"speaker":"Average Joe Finances","startTime":547.316,"endTime":551.159,"body":"It's, anytime you invest in a penny"},{"speaker":"Average Joe Finances","startTime":547.316,"endTime":551.159,"body":"stock, it's normally you should only"},{"speaker":"Average Joe Finances","startTime":551.159,"endTime":552.768,"body":"put money that you're okay with losing."},{"speaker":"Average Joe Finances","startTime":552.768,"endTime":553.488,"body":"It's like a gamble."},{"speaker":"Average Joe Finances","startTime":555.618,"endTime":556.878,"body":"So that yeah, for sure, man."},{"speaker":"Average Joe Finances","startTime":556.878,"endTime":557.547,"body":"So that's awesome."},{"speaker":"Average Joe Finances","startTime":557.547,"endTime":561.564,"body":"So you were persistent, you got"},{"speaker":"Average Joe Finances","startTime":557.547,"endTime":561.564,"body":"yourself educated and now you"},{"speaker":"Average Joe Finances","startTime":561.564,"endTime":562.914,"body":"are where you are today, right?"},{"speaker":"Average Joe Finances","startTime":562.914,"endTime":565.894,"body":"So now what is it that."},{"speaker":"Average Joe Finances","startTime":566.584,"endTime":568.474,"body":"That changed the"},{"speaker":"Average Joe Finances","startTime":566.584,"endTime":568.474,"body":"trajectory for you, right?"},{"speaker":"Average Joe Finances","startTime":568.474,"endTime":572.944,"body":"So you got educated, you read the book and"},{"speaker":"Average Joe Finances","startTime":568.474,"endTime":572.944,"body":"you started investing in options, right?"},{"speaker":"Average Joe Finances","startTime":573.184,"endTime":574.834,"body":"What was the next step after that?"},{"speaker":"Average Joe Finances","startTime":574.834,"endTime":577.924,"body":"To get yourself to the point"},{"speaker":"Average Joe Finances","startTime":574.834,"endTime":577.924,"body":"where in three years that this"},{"speaker":"Average Joe Finances","startTime":577.924,"endTime":579.244,"body":"is now what you do full time."},{"speaker":"Average Joe Finances","startTime":579.244,"endTime":581.644,"body":"So like we're not full-time"},{"speaker":"Average Joe Finances","startTime":579.244,"endTime":581.644,"body":"for 20 minutes a day."},{"speaker":"Average Joe Finances","startTime":582.004,"endTime":584.014,"body":"So like what is it that"},{"speaker":"Average Joe Finances","startTime":582.004,"endTime":584.014,"body":"got you to that point?"},{"speaker":"Average Joe Finances","startTime":584.014,"endTime":586.154,"body":"What was the threshold"},{"speaker":"Average Joe Finances","startTime":584.014,"endTime":586.154,"body":"that you had to get past?"},{"speaker":"David Torrence","startTime":586.166,"endTime":586.946,"body":"I'll be honest with you."},{"speaker":"David Torrence","startTime":586.946,"endTime":588.626,"body":"I wasn't profitable for a long time."},{"speaker":"David Torrence","startTime":589.406,"endTime":593.126,"body":"When it came to trading, investing"},{"speaker":"David Torrence","startTime":589.406,"endTime":593.126,"body":"is it's easy to be profitable"},{"speaker":"David Torrence","startTime":593.126,"endTime":594.236,"body":"because you're holding along."},{"speaker":"David Torrence","startTime":595.211,"endTime":599.651,"body":"So on the investing side, I was cool"},{"speaker":"David Torrence","startTime":595.211,"endTime":599.651,"body":"because I had long-term investments."},{"speaker":"David Torrence","startTime":599.651,"endTime":603.119,"body":"I've been holding apple for the past"},{"speaker":"David Torrence","startTime":599.651,"endTime":603.119,"body":"three years, so that was my biggest,"},{"speaker":"David Torrence","startTime":603.119,"endTime":604.319,"body":"that was my biggest investment."},{"speaker":"David Torrence","startTime":604.319,"endTime":604.679,"body":"Initially."},{"speaker":"David Torrence","startTime":604.679,"endTime":607.462,"body":"I was really, that was the"},{"speaker":"David Torrence","startTime":604.679,"endTime":607.462,"body":"only stock I owned for awhile."},{"speaker":"David Torrence","startTime":607.47,"endTime":612.39,"body":"So I wasn't very profitable in my trading"},{"speaker":"David Torrence","startTime":607.47,"endTime":612.39,"body":"and that's when I made the biggest leap."},{"speaker":"David Torrence","startTime":612.39,"endTime":616.077,"body":"Run-on I got profitable by trading in"},{"speaker":"David Torrence","startTime":612.39,"endTime":616.077,"body":"my cousin, introduced me to future."},{"speaker":"David Torrence","startTime":616.081,"endTime":619.201,"body":"And then once I got introduced to"},{"speaker":"David Torrence","startTime":616.081,"endTime":619.201,"body":"the futures market and lost a bunch"},{"speaker":"David Torrence","startTime":619.201,"endTime":622.591,"body":"of money attempting to do that and"},{"speaker":"David Torrence","startTime":619.201,"endTime":622.591,"body":"then took a step back and got some"},{"speaker":"David Torrence","startTime":622.591,"endTime":627.446,"body":"mastery, that's when I made this huge"},{"speaker":"David Torrence","startTime":622.591,"endTime":627.446,"body":"jump and my money grew exponentially"},{"speaker":"David Torrence","startTime":627.446,"endTime":630.891,"body":"enough to where I could maintain,"},{"speaker":"David Torrence","startTime":627.446,"endTime":630.891,"body":"continue to scale that amount of money."},{"speaker":"David Torrence","startTime":630.891,"endTime":635.081,"body":"Cause it's different to make money"},{"speaker":"David Torrence","startTime":630.891,"endTime":635.081,"body":"one or two times when you hit,"},{"speaker":"David Torrence","startTime":635.131,"endTime":636.471,"body":"you make a grand, you hit big."},{"speaker":"David Torrence","startTime":636.921,"endTime":638.721,"body":"That's very common with investing."},{"speaker":"David Torrence","startTime":638.811,"endTime":641.451,"body":"It's easy to do actually the hardest part."},{"speaker":"David Torrence","startTime":642.336,"endTime":646.386,"body":"This to do that and continuing to"},{"speaker":"David Torrence","startTime":642.336,"endTime":646.386,"body":"do it without losing to where you"},{"speaker":"David Torrence","startTime":646.386,"endTime":648.216,"body":"almost started from square one."},{"speaker":"David Torrence","startTime":648.216,"endTime":653.353,"body":"Again, that is the hardest part"},{"speaker":"David Torrence","startTime":648.216,"endTime":653.353,"body":"over a year to year timeframe."},{"speaker":"David Torrence","startTime":653.353,"endTime":654.133,"body":"That is the hardest."},{"speaker":"David Torrence","startTime":654.133,"endTime":658.273,"body":"So when I got the patients and the"},{"speaker":"David Torrence","startTime":654.133,"endTime":658.273,"body":"structure and the discipline to do"},{"speaker":"David Torrence","startTime":658.273,"endTime":660.673,"body":"that, that I made my biggest jump."},{"speaker":"David Torrence","startTime":660.683,"endTime":662.413,"body":"So it had nothing to do with really skill."},{"speaker":"David Torrence","startTime":662.413,"endTime":662.943,"body":"It actually had."},{"speaker":"David Torrence","startTime":663.763,"endTime":669.403,"body":"Me learning myself, how greedy I was"},{"speaker":"David Torrence","startTime":663.763,"endTime":669.403,"body":"mine anxiety when it came to trading."},{"speaker":"David Torrence","startTime":669.433,"endTime":671.893,"body":"Cause we're talking about trading, not"},{"speaker":"David Torrence","startTime":669.433,"endTime":671.893,"body":"investing there's glass psychology."},{"speaker":"David Torrence","startTime":672.133,"endTime":676.979,"body":"That's attached to trading that a lot"},{"speaker":"David Torrence","startTime":672.133,"endTime":676.979,"body":"of people gloss over, but it really is"},{"speaker":"David Torrence","startTime":676.979,"endTime":681.119,"body":"what makes or breaks the best traders,"},{"speaker":"David Torrence","startTime":676.979,"endTime":681.119,"body":"the psychology and the discipline."},{"speaker":"David Torrence","startTime":681.329,"endTime":685.109,"body":"Not really the skill, because"},{"speaker":"David Torrence","startTime":681.329,"endTime":685.109,"body":"if it was skill is all up down."},{"speaker":"David Torrence","startTime":685.109,"endTime":687.059,"body":"Can you guess which one is that?"},{"speaker":"David Torrence","startTime":687.119,"endTime":687.839,"body":"That's easy."},{"speaker":"David Torrence","startTime":687.899,"endTime":689.939,"body":"The hard part is the human nature aspect."},{"speaker":"Average Joe Finances","startTime":691.469,"endTime":691.739,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":691.769,"endTime":694.589,"body":"And actually, as you were"},{"speaker":"Average Joe Finances","startTime":691.769,"endTime":694.589,"body":"talking, that's the one word I"},{"speaker":"Average Joe Finances","startTime":694.589,"endTime":695.639,"body":"wrote down out of that whole."},{"speaker":"Average Joe Finances","startTime":696.449,"endTime":697.409,"body":"Was discipline."},{"speaker":"Average Joe Finances","startTime":697.424,"endTime":701.679,"body":"So you, the huge difference, like"},{"speaker":"Average Joe Finances","startTime":697.424,"endTime":701.679,"body":"you're saying between braiding and"},{"speaker":"Average Joe Finances","startTime":701.679,"endTime":705.666,"body":"investing, when you're investing,"},{"speaker":"Average Joe Finances","startTime":701.679,"endTime":705.666,"body":"that's your long term stuff, that's the"},{"speaker":"Average Joe Finances","startTime":705.666,"endTime":707.876,"body":"stuff you're saving for the few times."},{"speaker":"David Torrence","startTime":708.456,"endTime":708.786,"body":"Yeah."},{"speaker":"David Torrence","startTime":708.786,"endTime":709.827,"body":"We're retirement age."},{"speaker":"David Torrence","startTime":709.827,"endTime":710.187,"body":"I'm sorry."},{"speaker":"David Torrence","startTime":710.187,"endTime":712.587,"body":"Retirement age by the, by America."},{"speaker":"David Torrence","startTime":712.677,"endTime":713.217,"body":"Quote-unquote"},{"speaker":"Average Joe Finances","startTime":713.607,"endTime":714.087,"body":"yeah."},{"speaker":"Average Joe Finances","startTime":714.163,"endTime":716.803,"body":"But what you're doing right now"},{"speaker":"Average Joe Finances","startTime":714.163,"endTime":716.803,"body":"with your trading is you gotta,"},{"speaker":"Average Joe Finances","startTime":717.133,"endTime":718.453,"body":"you have to make enough to."},{"speaker":"Average Joe Finances","startTime":719.428,"endTime":722.248,"body":"Not only do you have enough to"},{"speaker":"Average Joe Finances","startTime":719.428,"endTime":722.248,"body":"trade the next day, but you have"},{"speaker":"Average Joe Finances","startTime":722.248,"endTime":726.394,"body":"enough to spend for what you need"},{"speaker":"Average Joe Finances","startTime":722.248,"endTime":726.394,"body":"to spend on for that day as well."},{"speaker":"Average Joe Finances","startTime":726.42,"endTime":729.57,"body":"So you're, this is also"},{"speaker":"Average Joe Finances","startTime":726.42,"endTime":729.57,"body":"your income, right?"},{"speaker":"Average Joe Finances","startTime":729.57,"endTime":732.66,"body":"So you have to make sure you"},{"speaker":"Average Joe Finances","startTime":729.57,"endTime":732.66,"body":"have enough put to the side to"},{"speaker":"Average Joe Finances","startTime":732.66,"endTime":734.19,"body":"pay the taxes on your gains."},{"speaker":"Average Joe Finances","startTime":734.49,"endTime":736.98,"body":"You have to make sure you have"},{"speaker":"Average Joe Finances","startTime":734.49,"endTime":736.98,"body":"enough put to the side to be"},{"speaker":"Average Joe Finances","startTime":736.98,"endTime":738.36,"body":"able to live your daily life."},{"speaker":"Average Joe Finances","startTime":738.69,"endTime":743.19,"body":"And on top of all, that still have"},{"speaker":"Average Joe Finances","startTime":738.69,"endTime":743.19,"body":"enough to invest the next day and"},{"speaker":"Average Joe Finances","startTime":743.19,"endTime":744.762,"body":"continue to build and build on top of."},{"speaker":"Average Joe Finances","startTime":745.557,"endTime":747.697,"body":"So obviously that's what you've done."},{"speaker":"Average Joe Finances","startTime":747.817,"endTime":751.136,"body":"And you've got yourself to a point now,"},{"speaker":"Average Joe Finances","startTime":747.817,"endTime":751.136,"body":"you were able to build up enough capital"},{"speaker":"Average Joe Finances","startTime":751.526,"endTime":756.026,"body":"to have money, to continue trading"},{"speaker":"Average Joe Finances","startTime":751.526,"endTime":756.026,"body":"and still take out when you need to."},{"speaker":"Average Joe Finances","startTime":756.476,"endTime":757.496,"body":"So that's"},{"speaker":"David Torrence","startTime":757.916,"endTime":760.466,"body":"as investing as"},{"speaker":"David Torrence","startTime":757.916,"endTime":760.466,"body":"well as investing too, because"},{"speaker":"David Torrence","startTime":760.826,"endTime":764.306,"body":"I treat the thing baffled that"},{"speaker":"David Torrence","startTime":760.826,"endTime":764.306,"body":"also gives me a competitive edge."},{"speaker":"David Torrence","startTime":764.306,"endTime":766.436,"body":"As I treat my trading macro true business."},{"speaker":"David Torrence","startTime":766.527,"endTime":769.454,"body":"I'm literally, I treat if there's"},{"speaker":"David Torrence","startTime":766.527,"endTime":769.454,"body":"a certain amount of money that goes"},{"speaker":"David Torrence","startTime":769.454,"endTime":772.094,"body":"towards longer-term investments"},{"speaker":"David Torrence","startTime":769.454,"endTime":772.094,"body":"that comes from that trading."},{"speaker":"David Torrence","startTime":772.424,"endTime":773.984,"body":"So guess what something goes left."},{"speaker":"David Torrence","startTime":774.344,"endTime":775.634,"body":"David has a bad week."},{"speaker":"David Torrence","startTime":776.024,"endTime":777.234,"body":"David has a bad month."},{"speaker":"David Torrence","startTime":777.234,"endTime":777.674,"body":"Guess what?"},{"speaker":"David Torrence","startTime":777.674,"endTime":780.494,"body":"I've been taking profits aside,"},{"speaker":"David Torrence","startTime":777.674,"endTime":780.494,"body":"not only to pay the bills"},{"speaker":"David Torrence","startTime":780.494,"endTime":782.144,"body":"and be a productive citizen."},{"speaker":"David Torrence","startTime":782.784,"endTime":786.864,"body":"But also to make sure that if anything"},{"speaker":"David Torrence","startTime":782.784,"endTime":786.864,"body":"happens well, you know what I have"},{"speaker":"David Torrence","startTime":786.864,"endTime":790.9,"body":"money to pull from to where I can get"},{"speaker":"David Torrence","startTime":786.864,"endTime":790.9,"body":"my account back to a place on knowing"},{"speaker":"David Torrence","startTime":790.9,"endTime":795.4,"body":"needs to be in order for me to continue"},{"speaker":"David Torrence","startTime":790.9,"endTime":795.4,"body":"investing and also to keep the business"},{"speaker":"David Torrence","startTime":795.4,"endTime":798.578,"body":"afloat because there's cool little"},{"speaker":"David Torrence","startTime":795.4,"endTime":798.578,"body":"things that I, different research"},{"speaker":"David Torrence","startTime":799.328,"endTime":800.871,"body":"engines I used to have to pay for."},{"speaker":"David Torrence","startTime":800.871,"endTime":803.376,"body":"Those things mattered and that's"},{"speaker":"David Torrence","startTime":800.871,"endTime":803.376,"body":"an expense in the business, right?"},{"speaker":"David Torrence","startTime":803.376,"endTime":804.836,"body":"So those kinds of things are."},{"speaker":"Average Joe Finances","startTime":806.036,"endTime":808.316,"body":"So now"},{"speaker":"Average Joe Finances","startTime":806.036,"endTime":808.316,"body":"also on top of that, you also"},{"speaker":"Average Joe Finances","startTime":808.316,"endTime":809.696,"body":"have a consulting firm, right?"},{"speaker":"Average Joe Finances","startTime":809.696,"endTime":814.852,"body":"So you're consulting other people and"},{"speaker":"Average Joe Finances","startTime":809.696,"endTime":814.852,"body":"businesses, I would guess, or yeah, I can"},{"speaker":"David Torrence","startTime":814.852,"endTime":817.642,"body":"see other people in"},{"speaker":"David Torrence","startTime":814.852,"endTime":817.642,"body":"their investments and also consult"},{"speaker":"David Torrence","startTime":817.642,"endTime":819.652,"body":"businesses and nonprofits for investing."},{"speaker":"David Torrence","startTime":819.652,"endTime":823.762,"body":"So teaching them how to better use"},{"speaker":"David Torrence","startTime":819.652,"endTime":823.762,"body":"free cash flow within their business."},{"speaker":"David Torrence","startTime":823.762,"endTime":828.382,"body":"Typically, if it's a profitable"},{"speaker":"David Torrence","startTime":823.762,"endTime":828.382,"body":"business, you have free cash flow"},{"speaker":"David Torrence","startTime":828.442,"endTime":832.652,"body":"money that you have sent in to the"},{"speaker":"David Torrence","startTime":828.442,"endTime":832.652,"body":"site after expenses, after tax."},{"speaker":"David Torrence","startTime":832.672,"endTime":836.092,"body":"So we're talking early, so we're"},{"speaker":"David Torrence","startTime":832.672,"endTime":836.092,"body":"talking earned income and I'm usually"},{"speaker":"David Torrence","startTime":836.092,"endTime":840.938,"body":"I'm consulting people or businesses"},{"speaker":"David Torrence","startTime":836.092,"endTime":840.938,"body":"or nonprofits on, how can you best"},{"speaker":"David Torrence","startTime":840.938,"endTime":844.668,"body":"allocate that capital because inflation"},{"speaker":"David Torrence","startTime":840.938,"endTime":844.668,"body":"and taxes are going to kill you."},{"speaker":"David Torrence","startTime":844.668,"endTime":847.757,"body":"Like you sit like off air when you"},{"speaker":"David Torrence","startTime":844.668,"endTime":847.757,"body":"spoke about if you make X amount"},{"speaker":"David Torrence","startTime":847.757,"endTime":849.597,"body":"per month, and it stays there."},{"speaker":"David Torrence","startTime":849.657,"endTime":853.167,"body":"The cost of living going up inflation,"},{"speaker":"David Torrence","startTime":849.657,"endTime":853.167,"body":"the cost of gas, smoke and everything"},{"speaker":"David Torrence","startTime":853.167,"endTime":856.34,"body":"going up that X amount of dollars"},{"speaker":"David Torrence","startTime":853.167,"endTime":856.34,"body":"wouldn't buy you the same now than."},{"speaker":"David Torrence","startTime":857.445,"endTime":857.565,"body":"Yeah."},{"speaker":"David Torrence","startTime":857.595,"endTime":860.655,"body":"So that's why it's important to invest"},{"speaker":"David Torrence","startTime":857.595,"endTime":860.655,"body":"free cash flow, any money you have"},{"speaker":"David Torrence","startTime":860.655,"endTime":864.435,"body":"seen on the site and not to truly"},{"speaker":"David Torrence","startTime":860.655,"endTime":864.435,"body":"hold on to a savings account, like"},{"speaker":"David Torrence","startTime":864.465,"endTime":865.875,"body":"we may have traditionally been taught"},{"speaker":"Average Joe Finances","startTime":866.565,"endTime":867.525,"body":"right now."},{"speaker":"Average Joe Finances","startTime":867.571,"endTime":871.452,"body":"I'm a firm believer in having"},{"speaker":"Average Joe Finances","startTime":867.571,"endTime":871.452,"body":"our emergency cash, like"},{"speaker":"Average Joe Finances","startTime":871.452,"endTime":872.562,"body":"having an emergency fund."},{"speaker":"Average Joe Finances","startTime":873.312,"endTime":877.106,"body":"But other than that you shouldn't"},{"speaker":"Average Joe Finances","startTime":873.312,"endTime":877.106,"body":"have just cash sitting in the bank"},{"speaker":"Average Joe Finances","startTime":877.136,"endTime":881.356,"body":"because being very conservative right"},{"speaker":"Average Joe Finances","startTime":877.136,"endTime":881.356,"body":"now on this, year's like the way it's"},{"speaker":"Average Joe Finances","startTime":881.356,"endTime":885.517,"body":"looking, but they're saying we're"},{"speaker":"Average Joe Finances","startTime":881.356,"endTime":885.517,"body":"going to have a 4% inflation, 4%."},{"speaker":"Average Joe Finances","startTime":886.087,"endTime":890.447,"body":"And if your money is sitting in a"},{"speaker":"Average Joe Finances","startTime":886.087,"endTime":890.447,"body":"checking account, that's getting 0.02, 5%."},{"speaker":"Average Joe Finances","startTime":891.067,"endTime":893.377,"body":"We're literally losing 3.7."},{"speaker":"Average Joe Finances","startTime":893.377,"endTime":893.527,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":894.002,"endTime":897.512,"body":"I spent every month on your dollar."},{"speaker":"Average Joe Finances","startTime":898.022,"endTime":900.945,"body":"So that is definitely you're"},{"speaker":"Average Joe Finances","startTime":898.022,"endTime":900.945,"body":"losing money by holding cash."},{"speaker":"Average Joe Finances","startTime":900.945,"endTime":904.815,"body":"You're losing money and that's something"},{"speaker":"Average Joe Finances","startTime":900.945,"endTime":904.815,"body":"we'll see that it's just trash."},{"speaker":"Average Joe Finances","startTime":904.907,"endTime":909.567,"body":"Some people say cash is king and"},{"speaker":"Average Joe Finances","startTime":904.907,"endTime":909.567,"body":"it is to a certain extent, right?"},{"speaker":"Average Joe Finances","startTime":910.167,"endTime":913.357,"body":"I like what you just said there too,"},{"speaker":"Average Joe Finances","startTime":910.167,"endTime":913.357,"body":"because cash can be in cash is trash,"},{"speaker":"Average Joe Finances","startTime":913.399,"endTime":916.489,"body":"if you're just sitting there holding"},{"speaker":"Average Joe Finances","startTime":913.399,"endTime":916.489,"body":"it and you're not using that, can."},{"speaker":"Average Joe Finances","startTime":917.214,"endTime":917.994,"body":"Towards something."},{"speaker":"Average Joe Finances","startTime":918.174,"endTime":923.844,"body":"So you can make cash king by actually"},{"speaker":"Average Joe Finances","startTime":918.174,"endTime":923.844,"body":"investing it and getting a return."},{"speaker":"Average Joe Finances","startTime":924.084,"endTime":927.294,"body":"That's going to beat inflation"},{"speaker":"Average Joe Finances","startTime":924.084,"endTime":927.294,"body":"because if you're not beating"},{"speaker":"Average Joe Finances","startTime":927.294,"endTime":929.022,"body":"inflation you're losing money."},{"speaker":"Average Joe Finances","startTime":929.352,"endTime":929.562,"body":"All"},{"speaker":"David Torrence","startTime":930.102,"endTime":931.302,"body":"I agree a hundred percent."},{"speaker":"David Torrence","startTime":931.302,"endTime":935.142,"body":"If you don't mind me asking how long"},{"speaker":"David Torrence","startTime":931.302,"endTime":935.142,"body":"I love the document, how long did it"},{"speaker":"David Torrence","startTime":935.142,"endTime":936.732,"body":"take you to come to that realization?"},{"speaker":"David Torrence","startTime":936.732,"endTime":938.622,"body":"Because I think that is important to be."},{"speaker":"David Torrence","startTime":939.342,"endTime":939.792,"body":"Too long."},{"speaker":"David Torrence","startTime":939.852,"endTime":940.632,"body":"I think it's so"},{"speaker":"Average Joe Finances","startTime":943.332,"endTime":945.224,"body":"much, much"},{"speaker":"Average Joe Finances","startTime":943.332,"endTime":945.224,"body":"older than when you realized"},{"speaker":"Average Joe Finances","startTime":945.224,"endTime":945.944,"body":"that I could tell you that."},{"speaker":"David Torrence","startTime":945.971,"endTime":948.21,"body":"And that's the"},{"speaker":"David Torrence","startTime":945.971,"endTime":948.21,"body":"problem I have with society."},{"speaker":"David Torrence","startTime":948.21,"endTime":952.14,"body":"I feel like we're not educating our youth"},{"speaker":"David Torrence","startTime":948.21,"endTime":952.14,"body":"enough to understand that and know that."},{"speaker":"Average Joe Finances","startTime":952.44,"endTime":953.1,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":953.52,"endTime":953.76,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":953.772,"endTime":961.019,"body":"And, and I realized, so I"},{"speaker":"Average Joe Finances","startTime":953.772,"endTime":961.019,"body":"started, let me see, I am 37 now."},{"speaker":"Average Joe Finances","startTime":961.078,"endTime":961.408,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":961.475,"endTime":964.789,"body":"It was shortly before I moved a couple"},{"speaker":"Average Joe Finances","startTime":961.475,"endTime":964.789,"body":"of years before we moved to Hawaii."},{"speaker":"Average Joe Finances","startTime":964.789,"endTime":968.869,"body":"When we decided that we needed to"},{"speaker":"Average Joe Finances","startTime":964.789,"endTime":968.869,"body":"figure out how to get out of debt,"},{"speaker":"Average Joe Finances","startTime":968.869,"endTime":970.339,"body":"because I had a lot of credit card debt."},{"speaker":"Average Joe Finances","startTime":970.339,"endTime":975.679,"body":"I had loans, I had all this stuff"},{"speaker":"Average Joe Finances","startTime":970.339,"endTime":975.679,"body":"because I was living my life the"},{"speaker":"Average Joe Finances","startTime":975.679,"endTime":979.317,"body":"way, society teaches you to live life"},{"speaker":"Average Joe Finances","startTime":975.679,"endTime":979.317,"body":"and saying if you've got the money,"},{"speaker":"Average Joe Finances","startTime":979.317,"endTime":981.117,"body":"spend it because you only live once."},{"speaker":"Average Joe Finances","startTime":981.151,"endTime":981.331,"body":"And."},{"speaker":"Average Joe Finances","startTime":981.4,"endTime":983.47,"body":"So what if you rack up a whole"},{"speaker":"Average Joe Finances","startTime":981.4,"endTime":983.47,"body":"bunch of credit, you just keep"},{"speaker":"Average Joe Finances","startTime":983.47,"endTime":984.94,"body":"paying it off until the day you die."},{"speaker":"Average Joe Finances","startTime":984.972,"endTime":986.876,"body":"No, that's not how you"},{"speaker":"Average Joe Finances","startTime":984.972,"endTime":986.876,"body":"should live life, right?"},{"speaker":"Average Joe Finances","startTime":987.146,"endTime":987.596,"body":"Sure."},{"speaker":"Average Joe Finances","startTime":987.66,"endTime":988.482,"body":"I'm not scared of debt."},{"speaker":"Average Joe Finances","startTime":988.482,"endTime":989.532,"body":"I'm not scared to have debt."},{"speaker":"Average Joe Finances","startTime":989.562,"endTime":992.202,"body":"I believe debt is a tool."},{"speaker":"Average Joe Finances","startTime":992.232,"endTime":994.142,"body":"If you manage it correctly"},{"speaker":"Average Joe Finances","startTime":992.232,"endTime":994.142,"body":"and you leverage it."},{"speaker":"Average Joe Finances","startTime":994.142,"endTime":997.914,"body":"And that's something I had to learn,"},{"speaker":"Average Joe Finances","startTime":994.142,"endTime":997.914,"body":"however, there's, there are certain"},{"speaker":"Average Joe Finances","startTime":997.914,"endTime":1001.994,"body":"debt like consumer debt, credit cards,"},{"speaker":"Average Joe Finances","startTime":997.914,"endTime":1001.994,"body":"personal loans and things like that."},{"speaker":"Average Joe Finances","startTime":1001.994,"endTime":1003.777,"body":"That does absolutely nothing for you."},{"speaker":"Average Joe Finances","startTime":1003.792,"endTime":1007.366,"body":"It took a while to realize that and"},{"speaker":"Average Joe Finances","startTime":1003.792,"endTime":1007.366,"body":"went, and once, I did my wife and I,"},{"speaker":"Average Joe Finances","startTime":1007.366,"endTime":1011.509,"body":"we decided, okay, it's time to get"},{"speaker":"Average Joe Finances","startTime":1007.366,"endTime":1011.509,"body":"serious about this, pay off our debt."},{"speaker":"Average Joe Finances","startTime":1012.179,"endTime":1013.999,"body":"We knew we wanted to move to Hawaii."},{"speaker":"Average Joe Finances","startTime":1014.029,"endTime":1016.669,"body":"I was negotiating for"},{"speaker":"Average Joe Finances","startTime":1014.029,"endTime":1016.669,"body":"orders to come to Hawaii."},{"speaker":"Average Joe Finances","startTime":1017.059,"endTime":1021.679,"body":"So we said, Hey, we need to get rid"},{"speaker":"Average Joe Finances","startTime":1017.059,"endTime":1021.679,"body":"of this $27,000 in debt and have"},{"speaker":"Average Joe Finances","startTime":1021.679,"endTime":1026.089,"body":"money saved for a down payment or"},{"speaker":"Average Joe Finances","startTime":1021.679,"endTime":1026.089,"body":"for renovations or repairs to a home"},{"speaker":"Average Joe Finances","startTime":1026.089,"endTime":1027.979,"body":"because we want to buy a home in Hawaii."},{"speaker":"Average Joe Finances","startTime":1028.719,"endTime":1029.619,"body":"So we said, okay, cool."},{"speaker":"Average Joe Finances","startTime":1029.619,"endTime":1032.079,"body":"So we come up with the game"},{"speaker":"Average Joe Finances","startTime":1029.619,"endTime":1032.079,"body":"plan, we built our budget."},{"speaker":"Average Joe Finances","startTime":1032.259,"endTime":1035.199,"body":"We started off following"},{"speaker":"Average Joe Finances","startTime":1032.259,"endTime":1035.199,"body":"Dave Ramsey's baby steps."},{"speaker":"Average Joe Finances","startTime":1035.218,"endTime":1037.293,"body":"We got to step up all of our debt."},{"speaker":"Average Joe Finances","startTime":1037.293,"endTime":1041.535,"body":"And then we went elsewhere because"},{"speaker":"Average Joe Finances","startTime":1037.293,"endTime":1041.535,"body":"I didn't want to continue going"},{"speaker":"Average Joe Finances","startTime":1041.535,"endTime":1045.608,"body":"down that road because Hey, I paid"},{"speaker":"Average Joe Finances","startTime":1041.535,"endTime":1045.608,"body":"off, my bad debt, my consumer debt."},{"speaker":"Average Joe Finances","startTime":1045.673,"endTime":1050.676,"body":"Now it's time to take on debt that I can"},{"speaker":"Average Joe Finances","startTime":1045.673,"endTime":1050.676,"body":"leverage AKA my mortgage to continue on."},{"speaker":"Average Joe Finances","startTime":1050.676,"endTime":1052.15,"body":"So we did we paid off the debt."},{"speaker":"Average Joe Finances","startTime":1052.15,"endTime":1054.31,"body":"We wound up saving $40,000"},{"speaker":"Average Joe Finances","startTime":1052.15,"endTime":1054.31,"body":"in a two year period."},{"speaker":"Average Joe Finances","startTime":1054.31,"endTime":1055.9,"body":"We paid off the $27,000 debt."},{"speaker":"Average Joe Finances","startTime":1056.23,"endTime":1060.01,"body":"We had $40,000 in the bank, but"},{"speaker":"Average Joe Finances","startTime":1056.23,"endTime":1060.01,"body":"when we moved to Hawaii to come"},{"speaker":"Average Joe Finances","startTime":1060.01,"endTime":1063.528,"body":"out here as a down payment or yada"},{"speaker":"Average Joe Finances","startTime":1060.01,"endTime":1063.528,"body":"didn't need a down payment, right?"},{"speaker":"Average Joe Finances","startTime":1063.528,"endTime":1066.048,"body":"Because being in the military,"},{"speaker":"Average Joe Finances","startTime":1063.528,"endTime":1066.048,"body":"I was able to use my VA loan."},{"speaker":"Average Joe Finances","startTime":1066.058,"endTime":1067.318,"body":"So I did 0% round."},{"speaker":"Average Joe Finances","startTime":1067.32,"endTime":1069.33,"body":"We use some of that money"},{"speaker":"Average Joe Finances","startTime":1067.32,"endTime":1069.33,"body":"towards closing costs."},{"speaker":"Average Joe Finances","startTime":1069.33,"endTime":1070.26,"body":"Cause we didn't want to roll it into."},{"speaker":"Average Joe Finances","startTime":1070.272,"endTime":1072.391,"body":"And then the rest of it, like when"},{"speaker":"Average Joe Finances","startTime":1070.272,"endTime":1072.391,"body":"we bought the house, we knew there"},{"speaker":"Average Joe Finances","startTime":1072.391,"endTime":1073.921,"body":"was certain things we want to change."},{"speaker":"Average Joe Finances","startTime":1074.221,"endTime":1078.091,"body":"So we took that money and invested it"},{"speaker":"Average Joe Finances","startTime":1074.221,"endTime":1078.091,"body":"into the home and made our renovations."},{"speaker":"Average Joe Finances","startTime":1078.178,"endTime":1083.128,"body":"So fast forward to where we"},{"speaker":"Average Joe Finances","startTime":1078.178,"endTime":1083.128,"body":"are now, I ought the house for,"},{"speaker":"David Torrence","startTime":1084.688,"endTime":1086.158,"body":"I was going to"},{"speaker":"David Torrence","startTime":1084.688,"endTime":1086.158,"body":"ask, how much is it worth now?"},{"speaker":"Average Joe Finances","startTime":1086.548,"endTime":1087.658,"body":"I'll"},{"speaker":"Average Joe Finances","startTime":1086.548,"endTime":1087.658,"body":"go full disclosure here."},{"speaker":"Average Joe Finances","startTime":1087.658,"endTime":1090.868,"body":"I bought it three years"},{"speaker":"Average Joe Finances","startTime":1087.658,"endTime":1090.868,"body":"ago for about 785,000."},{"speaker":"Average Joe Finances","startTime":1091.618,"endTime":1095.068,"body":"And today I could sell it for 1.1."},{"speaker":"Average Joe Finances","startTime":1096.493,"endTime":1097.243,"body":"Three years later."},{"speaker":"Average Joe Finances","startTime":1097.341,"endTime":1098.331,"body":"And that's awesome."},{"speaker":"Average Joe Finances","startTime":1098.361,"endTime":1099.741,"body":"That's without getting it looked at yet."},{"speaker":"Average Joe Finances","startTime":1099.871,"endTime":1101.871,"body":"I'm sure if I had an appraiser"},{"speaker":"Average Joe Finances","startTime":1099.871,"endTime":1101.871,"body":"come in here and they saw all the"},{"speaker":"Average Joe Finances","startTime":1101.871,"endTime":1104.484,"body":"renovations and stuff that we did,"},{"speaker":"Average Joe Finances","startTime":1101.871,"endTime":1104.484,"body":"the upgrades that we've had I'm"},{"speaker":"Average Joe Finances","startTime":1104.484,"endTime":1105.984,"body":"pretty happy with where we're at right"},{"speaker":"David Torrence","startTime":1105.984,"endTime":1109.364,"body":"now, an estimate"},{"speaker":"David Torrence","startTime":1105.984,"endTime":1109.364,"body":"that's a long-term investment, a"},{"speaker":"David Torrence","startTime":1109.364,"endTime":1114.044,"body":"strategic, very intentful long-term"},{"speaker":"David Torrence","startTime":1109.364,"endTime":1114.044,"body":"investment that is going to pay us."},{"speaker":"Average Joe Finances","startTime":1114.1,"endTime":1115.72,"body":"So some"},{"speaker":"Average Joe Finances","startTime":1114.1,"endTime":1115.72,"body":"people wouldn't look at your"},{"speaker":"Average Joe Finances","startTime":1115.72,"endTime":1117.31,"body":"primary residence as an investment."},{"speaker":"Average Joe Finances","startTime":1117.31,"endTime":1117.822,"body":"But I do."},{"speaker":"Average Joe Finances","startTime":1117.822,"endTime":1122.712,"body":"And here's why, because I do plan on"},{"speaker":"Average Joe Finances","startTime":1117.822,"endTime":1122.712,"body":"very shortly here taking out a home"},{"speaker":"Average Joe Finances","startTime":1122.712,"endTime":1126.342,"body":"equity line of credit to pull some"},{"speaker":"Average Joe Finances","startTime":1122.712,"endTime":1126.342,"body":"of my equity out and invest that."},{"speaker":"Average Joe Finances","startTime":1126.36,"endTime":1131.041,"body":"So I'm looking at getting into my first"},{"speaker":"Average Joe Finances","startTime":1126.36,"endTime":1131.041,"body":"syndication here buying into apartments."},{"speaker":"Average Joe Finances","startTime":1131.041,"endTime":1136.189,"body":"Cause I feel like that is one of the Like"},{"speaker":"Average Joe Finances","startTime":1131.041,"endTime":1136.189,"body":"one of the safer pieces of real estate to"},{"speaker":"Average Joe Finances","startTime":1136.189,"endTime":1140.892,"body":"buy when the market is looking crazy, a"},{"speaker":"Average Joe Finances","startTime":1136.189,"endTime":1140.892,"body":"lot of people think that the real estate"},{"speaker":"Average Joe Finances","startTime":1140.892,"endTime":1142.692,"body":"market, the bubble's going to pop soon."},{"speaker":"Average Joe Finances","startTime":1142.731,"endTime":1146.961,"body":"And it depends, there's a lot of"},{"speaker":"Average Joe Finances","startTime":1142.731,"endTime":1146.961,"body":"the same things happening that"},{"speaker":"Average Joe Finances","startTime":1146.961,"endTime":1149.371,"body":"happened back in 2008 and 2009."},{"speaker":"Average Joe Finances","startTime":1149.441,"endTime":1151.841,"body":"He thinks that's not happening"},{"speaker":"Average Joe Finances","startTime":1149.441,"endTime":1151.841,"body":"and is happening as you don't"},{"speaker":"Average Joe Finances","startTime":1151.841,"endTime":1153.461,"body":"see like that predatory lending."},{"speaker":"Average Joe Finances","startTime":1154.211,"endTime":1154.451,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1154.471,"endTime":1156.461,"body":"The mortgage loans that are spot."},{"speaker":"Average Joe Finances","startTime":1156.542,"endTime":1156.722,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1156.722,"endTime":1159.122,"body":"So anyway, I don't want to go off"},{"speaker":"Average Joe Finances","startTime":1156.722,"endTime":1159.122,"body":"too much on a tangent, but yeah."},{"speaker":"Average Joe Finances","startTime":1159.182,"endTime":1162.182,"body":"So I, I am I'm with you"},{"speaker":"Average Joe Finances","startTime":1159.182,"endTime":1162.182,"body":"there a hundred percent."},{"speaker":"Average Joe Finances","startTime":1163.752,"endTime":1167.06,"body":"I'm not going to say Cassius king"},{"speaker":"Average Joe Finances","startTime":1163.752,"endTime":1167.06,"body":"I'm I think I liked the whole"},{"speaker":"Average Joe Finances","startTime":1167.06,"endTime":1168.92,"body":"new mantra of Cassius trash."},{"speaker":"Average Joe Finances","startTime":1169.55,"endTime":1169.66,"body":"No,"},{"speaker":"David Torrence","startTime":1169.66,"endTime":1170.3,"body":"it depends."},{"speaker":"David Torrence","startTime":1170.31,"endTime":1171.83,"body":"It depends on with the a hundred percent."},{"speaker":"David Torrence","startTime":1171.83,"endTime":1172.91,"body":"It depends on what you do."},{"speaker":"David Torrence","startTime":1174.62,"endTime":1176.51,"body":"There's always context attached to it."},{"speaker":"David Torrence","startTime":1176.51,"endTime":1177.68,"body":"It depends on what you do."},{"speaker":"David Torrence","startTime":1177.86,"endTime":1180.03,"body":"And I love how you see"},{"speaker":"David Torrence","startTime":1177.86,"endTime":1180.03,"body":"you kept pointing out."},{"speaker":"David Torrence","startTime":1180.03,"endTime":1181.108,"body":"Because there's a difference."},{"speaker":"David Torrence","startTime":1181.138,"endTime":1185.488,"body":"And we talked about hyper consumption and"},{"speaker":"David Torrence","startTime":1181.138,"endTime":1185.488,"body":"not, and unfortunately we have to meet"},{"speaker":"David Torrence","startTime":1185.488,"endTime":1189.778,"body":"people who are caught hyper consumption"},{"speaker":"David Torrence","startTime":1185.488,"endTime":1189.778,"body":"and often in this is the funny part."},{"speaker":"David Torrence","startTime":1189.828,"endTime":1192.028,"body":"And I'll let you go"},{"speaker":"David Torrence","startTime":1189.828,"endTime":1192.028,"body":"into your next question."},{"speaker":"David Torrence","startTime":1192.418,"endTime":1195.165,"body":"People always ask me David,"},{"speaker":"David Torrence","startTime":1192.418,"endTime":1195.165,"body":"what should I invest in?"},{"speaker":"David Torrence","startTime":1195.645,"endTime":1196.875,"body":"They always ask me that."},{"speaker":"David Torrence","startTime":1197.145,"endTime":1200.025,"body":"And I always say, what do"},{"speaker":"David Torrence","startTime":1197.145,"endTime":1200.025,"body":"you spend your money on?"},{"speaker":"David Torrence","startTime":1201.645,"endTime":1203.625,"body":"That's the easiest way to get investing."},{"speaker":"David Torrence","startTime":1203.685,"endTime":1205.215,"body":"Think about what to"},{"speaker":"David Torrence","startTime":1203.685,"endTime":1205.215,"body":"spend your money and not."},{"speaker":"David Torrence","startTime":1205.215,"endTime":1207.315,"body":"And this is my always go"},{"speaker":"David Torrence","startTime":1205.215,"endTime":1207.315,"body":"to, I have an apple phone."},{"speaker":"David Torrence","startTime":1208.08,"endTime":1208.95,"body":"I have a tablet."},{"speaker":"David Torrence","startTime":1209.19,"endTime":1210.22,"body":"I have an apple watch."},{"speaker":"David Torrence","startTime":1210.249,"endTime":1213.314,"body":"There's a trillion dollar"},{"speaker":"David Torrence","startTime":1210.249,"endTime":1213.314,"body":"market cap company right there."},{"speaker":"David Torrence","startTime":1213.644,"endTime":1216.134,"body":"That's the highest weighting"},{"speaker":"David Torrence","startTime":1213.644,"endTime":1216.134,"body":"in the S and P 500."},{"speaker":"Average Joe Finances","startTime":1217.004,"endTime":1218.984,"body":"They just"},{"speaker":"Average Joe Finances","startTime":1217.004,"endTime":1218.984,"body":"hit 2 trillion due to truly"},{"speaker":"Average Joe Finances","startTime":1218.984,"endTime":1220.184,"body":"down there with Microsoft."},{"speaker":"Average Joe Finances","startTime":1220.184,"endTime":1221.084,"body":"That's insane."},{"speaker":"Average Joe Finances","startTime":1221.564,"endTime":1221.694,"body":"No,"},{"speaker":"David Torrence","startTime":1221.754,"endTime":1222.084,"body":"No."},{"speaker":"David Torrence","startTime":1222.294,"endTime":1223.644,"body":"Apple is almost at 3 trillion."},{"speaker":"David Torrence","startTime":1223.674,"endTime":1225.204,"body":"Apple hit 3 trillion already."},{"speaker":"David Torrence","startTime":1225.234,"endTime":1227.844,"body":"Apple's already hit return and"},{"speaker":"David Torrence","startTime":1225.234,"endTime":1227.844,"body":"Microsoft just hit 2 trillion."},{"speaker":"David Torrence","startTime":1227.844,"endTime":1228.204,"body":"I'm sorry."},{"speaker":"David Torrence","startTime":1228.524,"endTime":1228.744,"body":"Yeah."},{"speaker":"David Torrence","startTime":1228.794,"endTime":1229.044,"body":"Yeah."},{"speaker":"David Torrence","startTime":1229.314,"endTime":1230.094,"body":"And Facebook too."},{"speaker":"David Torrence","startTime":1230.154,"endTime":1230.514,"body":"Facebook"},{"speaker":"Average Joe Finances","startTime":1230.514,"endTime":1230.844,"body":"just hit two."},{"speaker":"Average Joe Finances","startTime":1231.684,"endTime":1232.134,"body":"Really?"},{"speaker":"Average Joe Finances","startTime":1232.704,"endTime":1233.874,"body":"Yes, they did it."},{"speaker":"David Torrence","startTime":1233.874,"endTime":1234.924,"body":"Didn't"},{"speaker":"David Torrence","startTime":1233.874,"endTime":1234.924,"body":"they just hit 2 trillion."},{"speaker":"David Torrence","startTime":1234.999,"endTime":1237.339,"body":"So I always tell people"},{"speaker":"David Torrence","startTime":1234.999,"endTime":1237.339,"body":"there's a company right there."},{"speaker":"David Torrence","startTime":1237.489,"endTime":1240.129,"body":"Where do you buy most of"},{"speaker":"David Torrence","startTime":1237.489,"endTime":1240.129,"body":"your stuff from Amazon there?"},{"speaker":"David Torrence","startTime":1240.189,"endTime":1242.709,"body":"Find the ETF that has"},{"speaker":"David Torrence","startTime":1240.189,"endTime":1242.709,"body":"Amazon and is holding."},{"speaker":"David Torrence","startTime":1242.709,"endTime":1244.329,"body":"So you can have direct exposure to it."},{"speaker":"David Torrence","startTime":1244.689,"endTime":1248.979,"body":"Like when we're talking about investing"},{"speaker":"David Torrence","startTime":1244.689,"endTime":1248.979,"body":"is so easy to get started, just think"},{"speaker":"David Torrence","startTime":1248.979,"endTime":1252.369,"body":"about what you spend and you know what I"},{"speaker":"David Torrence","startTime":1248.979,"endTime":1252.369,"body":"always say, ladies make the best investors"},{"speaker":"David Torrence","startTime":1252.639,"endTime":1256.029,"body":"because they're more in touch with the"},{"speaker":"David Torrence","startTime":1252.639,"endTime":1256.029,"body":"consumer side because they typically"},{"speaker":"Average Joe Finances","startTime":1256.059,"endTime":1256.179,"body":"do."},{"speaker":"Average Joe Finances","startTime":1256.299,"endTime":1256.569,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1256.569,"endTime":1257.139,"body":"That's fair."},{"speaker":"Average Joe Finances","startTime":1257.499,"endTime":1258.72,"body":"And, I liked that."},{"speaker":"Average Joe Finances","startTime":1258.72,"endTime":1261.78,"body":"You didn't just say to invest"},{"speaker":"Average Joe Finances","startTime":1258.72,"endTime":1261.78,"body":"directly in the Amazon, you said"},{"speaker":"Average Joe Finances","startTime":1261.78,"endTime":1264.84,"body":"find an ETF that invests in Amazon."},{"speaker":"Average Joe Finances","startTime":1264.875,"endTime":1267.725,"body":"Cause there's a lot of people out there"},{"speaker":"Average Joe Finances","startTime":1264.875,"endTime":1267.725,"body":"that don't want to invest directly"},{"speaker":"Average Joe Finances","startTime":1267.725,"endTime":1270.926,"body":"into a individual or a single stock."},{"speaker":"Average Joe Finances","startTime":1270.926,"endTime":1273.43,"body":"And, ETFs and index funds"},{"speaker":"Average Joe Finances","startTime":1270.926,"endTime":1273.43,"body":"and things like that."},{"speaker":"Average Joe Finances","startTime":1273.43,"endTime":1274.09,"body":"And mutual funds."},{"speaker":"Average Joe Finances","startTime":1274.118,"endTime":1277.809,"body":"Those are different ways to"},{"speaker":"Average Joe Finances","startTime":1274.118,"endTime":1277.809,"body":"invest in many different styles."},{"speaker":"Average Joe Finances","startTime":1278.499,"endTime":1284.007,"body":"At once and get, a piece of that pie"},{"speaker":"Average Joe Finances","startTime":1278.499,"endTime":1284.007,"body":"without having to, put the whole thing out"},{"speaker":"Average Joe Finances","startTime":1284.667,"endTime":1289.597,"body":"and or going for that individual singular"},{"speaker":"Average Joe Finances","startTime":1284.667,"endTime":1289.597,"body":"piece, you get a piece of the whole pie."},{"speaker":"Average Joe Finances","startTime":1289.687,"endTime":1290.227,"body":"You know what I'm saying?"},{"speaker":"David Torrence","startTime":1291.217,"endTime":1293.767,"body":"No, it's a"},{"speaker":"David Torrence","startTime":1291.217,"endTime":1293.767,"body":"cheater's coat to the market index."},{"speaker":"David Torrence","startTime":1293.767,"endTime":1296.737,"body":"Isn't UTS or cheaters coded"},{"speaker":"David Torrence","startTime":1293.767,"endTime":1296.737,"body":"into the market, literally."},{"speaker":"Average Joe Finances","startTime":1297.577,"endTime":1298.867,"body":"Yeah, no, I like it."},{"speaker":"Average Joe Finances","startTime":1298.867,"endTime":1299.296,"body":"I like it."},{"speaker":"Average Joe Finances","startTime":1299.336,"endTime":1301.345,"body":"Speaking of cheaters codes, right?"},{"speaker":"Average Joe Finances","startTime":1301.345,"endTime":1304.273,"body":"So I had asked you for some"},{"speaker":"Average Joe Finances","startTime":1301.345,"endTime":1304.273,"body":"topics for us to discuss."},{"speaker":"Average Joe Finances","startTime":1304.273,"endTime":1306.925,"body":"And one of the things you sent"},{"speaker":"Average Joe Finances","startTime":1304.273,"endTime":1306.925,"body":"me, so I want to talk about"},{"speaker":"Average Joe Finances","startTime":1306.925,"endTime":1309.503,"body":"this is, what are your thoughts?"},{"speaker":"Average Joe Finances","startTime":1309.533,"endTime":1311.723,"body":"Speaking of cheaters codes, right?"},{"speaker":"Average Joe Finances","startTime":1311.783,"endTime":1313.043,"body":"We're going to talk about games here."},{"speaker":"Average Joe Finances","startTime":1313.043,"endTime":1314.873,"body":"What are your thoughts on game stop."},{"speaker":"David Torrence","startTime":1316.043,"endTime":1316.793,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1316.802,"endTime":1317.372,"body":"Oh, here we go."},{"speaker":"Average Joe Finances","startTime":1317.372,"endTime":1319.352,"body":"I can tell you the juices are flowing."},{"speaker":"Average Joe Finances","startTime":1319.352,"endTime":1319.742,"body":"Let's go."},{"speaker":"David Torrence","startTime":1320.642,"endTime":1323.973,"body":"So when it came, when"},{"speaker":"David Torrence","startTime":1320.642,"endTime":1323.973,"body":"it comes to game stop In my opinion,"},{"speaker":"David Torrence","startTime":1324.273,"endTime":1332.821,"body":"I believe gain stock is not a bunch of"},{"speaker":"David Torrence","startTime":1324.273,"endTime":1332.821,"body":"people in Reddit coming together to push"},{"speaker":"David Torrence","startTime":1332.821,"endTime":1336.091,"body":"back against the powers that be, I believe"},{"speaker":"Average Joe Finances","startTime":1336.251,"endTime":1339.361,"body":"there's"},{"speaker":"Average Joe Finances","startTime":1336.251,"endTime":1339.361,"body":"actually let's get into that actually"},{"speaker":"David Torrence","startTime":1339.361,"endTime":1342.78,"body":"believe that there"},{"speaker":"David Torrence","startTime":1339.361,"endTime":1342.78,"body":"is and institutional money behind it."},{"speaker":"David Torrence","startTime":1343.29,"endTime":1344.49,"body":"I believe that there's instant."},{"speaker":"David Torrence","startTime":1344.76,"endTime":1346.86,"body":"I believe that there's big"},{"speaker":"David Torrence","startTime":1344.76,"endTime":1346.86,"body":"institutions playing in both."},{"speaker":"David Torrence","startTime":1347.7,"endTime":1350.76,"body":"I believe there's big institutions"},{"speaker":"David Torrence","startTime":1347.7,"endTime":1350.76,"body":"that own, that are buying up the stock,"},{"speaker":"David Torrence","startTime":1350.97,"endTime":1353.73,"body":"but they're probably buying it out"},{"speaker":"David Torrence","startTime":1350.97,"endTime":1353.73,"body":"of their personal account, whatever."},{"speaker":"David Torrence","startTime":1353.97,"endTime":1357.84,"body":"And then they're also having"},{"speaker":"David Torrence","startTime":1353.97,"endTime":1357.84,"body":"short term puts on the other side."},{"speaker":"David Torrence","startTime":1357.84,"endTime":1362.01,"body":"So if they get squeezed out, they wouldn't"},{"speaker":"David Torrence","startTime":1357.84,"endTime":1362.01,"body":"hold it on the stock, but they lose right."},{"speaker":"David Torrence","startTime":1362.21,"endTime":1365.31,"body":"They, but they're on the opposite"},{"speaker":"David Torrence","startTime":1362.21,"endTime":1365.31,"body":"side and they're actually not getting"},{"speaker":"David Torrence","startTime":1365.31,"endTime":1368.37,"body":"squeezed out then winning on the put"},{"speaker":"David Torrence","startTime":1365.31,"endTime":1368.37,"body":"side on the option side, I believe"},{"speaker":"David Torrence","startTime":1368.4,"endTime":1369.81,"body":"institutional money is driving it."},{"speaker":"David Torrence","startTime":1370.02,"endTime":1372.36,"body":"I do not believe that"},{"speaker":"David Torrence","startTime":1370.02,"endTime":1372.36,"body":"there's enough retail trades."},{"speaker":"David Torrence","startTime":1372.431,"endTime":1376.271,"body":"So push game stop and the way in which"},{"speaker":"David Torrence","startTime":1372.431,"endTime":1376.271,"body":"has been shared and being pushed."},{"speaker":"David Torrence","startTime":1376.691,"endTime":1379.181,"body":"Second thing, I do not believe"},{"speaker":"David Torrence","startTime":1376.691,"endTime":1379.181,"body":"it's a good investment."},{"speaker":"David Torrence","startTime":1379.181,"endTime":1380.441,"body":"I believe it's a great trade."},{"speaker":"David Torrence","startTime":1380.464,"endTime":1383.604,"body":"if I'm being honest, the bias,"},{"speaker":"David Torrence","startTime":1380.464,"endTime":1383.604,"body":"a great trade, not agree."},{"speaker":"Average Joe Finances","startTime":1383.688,"endTime":1385.128,"body":"That's not,"},{"speaker":"Average Joe Finances","startTime":1383.688,"endTime":1385.128,"body":"it's not something that you would"},{"speaker":"Average Joe Finances","startTime":1385.128,"endTime":1386.898,"body":"buy and hold until your retirement"},{"speaker":"David Torrence","startTime":1386.898,"endTime":1387.258,"body":"age."},{"speaker":"David Torrence","startTime":1387.528,"endTime":1387.978,"body":"Correct?"},{"speaker":"David Torrence","startTime":1388.008,"endTime":1388.298,"body":"Exactly."},{"speaker":"David Torrence","startTime":1388.298,"endTime":1390.108,"body":"And that's what I mean, thank"},{"speaker":"David Torrence","startTime":1388.298,"endTime":1390.108,"body":"you for giving that context."},{"speaker":"David Torrence","startTime":1390.108,"endTime":1390.498,"body":"That's what I mean."},{"speaker":"David Torrence","startTime":1390.498,"endTime":1391.308,"body":"Cause important."},{"speaker":"David Torrence","startTime":1391.308,"endTime":1394.218,"body":"I'm always trying to make sure I get the"},{"speaker":"David Torrence","startTime":1391.308,"endTime":1394.218,"body":"concept between trading and investing"},{"speaker":"David Torrence","startTime":1394.218,"endTime":1395.928,"body":"because people use them interchangeably."},{"speaker":"David Torrence","startTime":1395.928,"endTime":1396.301,"body":"They're not."},{"speaker":"David Torrence","startTime":1396.351,"endTime":1398.961,"body":"But S but if you know how the"},{"speaker":"David Torrence","startTime":1396.351,"endTime":1398.961,"body":"trade is a great trade, I did it."},{"speaker":"David Torrence","startTime":1398.977,"endTime":1400.55,"body":"It's not a part of my trading thesis."},{"speaker":"David Torrence","startTime":1400.552,"endTime":1404.392,"body":"So I'm really big on, I have a thesis"},{"speaker":"David Torrence","startTime":1400.552,"endTime":1404.392,"body":"for the year and I'm sticking to"},{"speaker":"David Torrence","startTime":1404.392,"endTime":1407.032,"body":"those parameters and that lets me"},{"speaker":"David Torrence","startTime":1404.392,"endTime":1407.032,"body":"know where I should be looking where"},{"speaker":"David Torrence","startTime":1407.042,"endTime":1408.652,"body":"I'm wanting to allocate capital."},{"speaker":"David Torrence","startTime":1408.695,"endTime":1412.067,"body":"And also the, where I should be"},{"speaker":"David Torrence","startTime":1408.695,"endTime":1412.067,"body":"pulling out and where my my sentiment"},{"speaker":"David Torrence","startTime":1412.067,"endTime":1416.247,"body":"lies within certain industries,"},{"speaker":"David Torrence","startTime":1412.067,"endTime":1416.247,"body":"certain indexes and certain sectors."},{"speaker":"David Torrence","startTime":1416.288,"endTime":1419.438,"body":"I love game stop, and this is the money"},{"speaker":"David Torrence","startTime":1416.288,"endTime":1419.438,"body":"to be made, but I don't believe that."},{"speaker":"David Torrence","startTime":1420.233,"endTime":1422.483,"body":"The people pushing back against"},{"speaker":"David Torrence","startTime":1420.233,"endTime":1422.483,"body":"institutional investors."},{"speaker":"David Torrence","startTime":1422.483,"endTime":1425.003,"body":"I believe there's actual"},{"speaker":"David Torrence","startTime":1422.483,"endTime":1425.003,"body":"institutional money influencing"},{"speaker":"David Torrence","startTime":1425.003,"endTime":1426.293,"body":"it more than we think it does."},{"speaker":"David Torrence","startTime":1426.311,"endTime":1429.191,"body":"And I, and because both sides"},{"speaker":"David Torrence","startTime":1426.311,"endTime":1429.191,"body":"have something to win and if you"},{"speaker":"David Torrence","startTime":1429.191,"endTime":1432.447,"body":"don't believe me, Robin had just"},{"speaker":"David Torrence","startTime":1429.191,"endTime":1432.447,"body":"went through a really bad lawsuit."},{"speaker":"David Torrence","startTime":1432.447,"endTime":1434.363,"body":"And they didn't have another"},{"speaker":"David Torrence","startTime":1432.447,"endTime":1434.363,"body":"one coming towards them as well."},{"speaker":"David Torrence","startTime":1434.409,"endTime":1434.979,"body":"And do time."},{"speaker":"David Torrence","startTime":1434.979,"endTime":1436.839,"body":"I feel like there's going to"},{"speaker":"David Torrence","startTime":1434.979,"endTime":1436.839,"body":"be news coming out about that."},{"speaker":"David Torrence","startTime":1436.899,"endTime":1441.519,"body":"We'll see that as a more institutionally"},{"speaker":"David Torrence","startTime":1436.899,"endTime":1441.519,"body":"driven than people think, because"},{"speaker":"David Torrence","startTime":1441.6,"endTime":1446.04,"body":"if you think about the landscape of"},{"speaker":"David Torrence","startTime":1441.6,"endTime":1446.04,"body":"the stock market prior to the game"},{"speaker":"David Torrence","startTime":1446.04,"endTime":1449.579,"body":"stop, we had a huge run-up coming"},{"speaker":"David Torrence","startTime":1446.04,"endTime":1449.579,"body":"out of the coronavirus, right?"},{"speaker":"David Torrence","startTime":1449.579,"endTime":1451.439,"body":"You have arc fund that"},{"speaker":"David Torrence","startTime":1449.579,"endTime":1451.439,"body":"was doing very well."},{"speaker":"David Torrence","startTime":1451.469,"endTime":1452.219,"body":"Everyone made money."},{"speaker":"David Torrence","startTime":1452.219,"endTime":1457.1,"body":"It's pretty much easy to make money"},{"speaker":"David Torrence","startTime":1452.219,"endTime":1457.1,"body":"from March 20 from April, 2020."},{"speaker":"David Torrence","startTime":1457.28,"endTime":1460.46,"body":"So January of 2021 money"},{"speaker":"David Torrence","startTime":1457.28,"endTime":1460.46,"body":"was easy to be made."},{"speaker":"David Torrence","startTime":1461.73,"endTime":1463.02,"body":"Yeah, test the snack spit."},{"speaker":"David Torrence","startTime":1463.02,"endTime":1464.94,"body":"You have apple top a stock split."},{"speaker":"David Torrence","startTime":1465.15,"endTime":1466.98,"body":"There was no where to lose money."},{"speaker":"David Torrence","startTime":1467.04,"endTime":1471.24,"body":"Every earnings everything's going"},{"speaker":"David Torrence","startTime":1467.04,"endTime":1471.24,"body":"jumping up, but what happened was"},{"speaker":"David Torrence","startTime":1471.24,"endTime":1472.62,"body":"they needed to be a rebalancing."},{"speaker":"David Torrence","startTime":1472.86,"endTime":1475.5,"body":"And we saw that in the beginning of"},{"speaker":"David Torrence","startTime":1472.86,"endTime":1475.5,"body":"this year, we rotate out of tech and"},{"speaker":"David Torrence","startTime":1475.5,"endTime":1479.825,"body":"we went into what cyclical non-cyclical"},{"speaker":"David Torrence","startTime":1475.5,"endTime":1479.825,"body":"stocks, defensive stocks, indexes"},{"speaker":"David Torrence","startTime":1479.825,"endTime":1481.325,"body":"have been ruling the market right now."},{"speaker":"David Torrence","startTime":1481.325,"endTime":1483.475,"body":"The S and P is at an all time high."},{"speaker":"David Torrence","startTime":1483.515,"endTime":1484.505,"body":"It's been on a tear from."},{"speaker":"David Torrence","startTime":1485.225,"endTime":1491.255,"body":"The biggest since 19 some before I was"},{"speaker":"David Torrence","startTime":1485.225,"endTime":1491.255,"body":"born and NASDAQ is not at all time."},{"speaker":"David Torrence","startTime":1491.345,"endTime":1494.93,"body":"And that is at an all time high,"},{"speaker":"David Torrence","startTime":1491.345,"endTime":1494.93,"body":"but has lagged behind the S and P"},{"speaker":"David Torrence","startTime":1494.99,"endTime":1499.04,"body":"and the Dow, which is unusual by the"},{"speaker":"David Torrence","startTime":1494.99,"endTime":1499.04,"body":"way, the dowel is the industrial."},{"speaker":"David Torrence","startTime":1499.04,"endTime":1501.2,"body":"So that when I'm talking about"},{"speaker":"David Torrence","startTime":1499.04,"endTime":1501.2,"body":"defensive stocks to Dallas,"},{"speaker":"David Torrence","startTime":1501.2,"endTime":1502.43,"body":"Ruben has been really running up."},{"speaker":"David Torrence","startTime":1502.43,"endTime":1505.64,"body":"So I know what I'm saying a lot right"},{"speaker":"David Torrence","startTime":1502.43,"endTime":1505.64,"body":"now, but I'm going to get some jump."},{"speaker":"David Torrence","startTime":1505.79,"endTime":1509.857,"body":"I'm saying all that to say Because of all"},{"speaker":"David Torrence","startTime":1505.79,"endTime":1509.857,"body":"that, and there need to be a rebalancing."},{"speaker":"David Torrence","startTime":1510.067,"endTime":1514.027,"body":"I think institutions were really"},{"speaker":"David Torrence","startTime":1510.067,"endTime":1514.027,"body":"looking to these meme stocks as a way"},{"speaker":"David Torrence","startTime":1514.027,"endTime":1516.368,"body":"to get there to meet their benchmarks."},{"speaker":"Average Joe Finances","startTime":1517.978,"endTime":1518.518,"body":"Interesting."},{"speaker":"Average Joe Finances","startTime":1519.108,"endTime":1521.823,"body":"That's definitely interesting"},{"speaker":"Average Joe Finances","startTime":1519.108,"endTime":1521.823,"body":"because, I don't think so."},{"speaker":"Average Joe Finances","startTime":1521.853,"endTime":1525.003,"body":"Neither myself, nor many other people"},{"speaker":"Average Joe Finances","startTime":1521.853,"endTime":1525.003,"body":"out there were thinking like that."},{"speaker":"Average Joe Finances","startTime":1525.015,"endTime":1529.691,"body":"I saw the whole, Reddit thing and"},{"speaker":"Average Joe Finances","startTime":1525.015,"endTime":1529.691,"body":"the meme stocks and all that other"},{"speaker":"Average Joe Finances","startTime":1529.691,"endTime":1533.111,"body":"stuff and huddle and all that"},{"speaker":"Average Joe Finances","startTime":1529.691,"endTime":1533.111,"body":"good stuff that's still going on."},{"speaker":"Average Joe Finances","startTime":1533.14,"endTime":1536.798,"body":"When you think about it, it does"},{"speaker":"Average Joe Finances","startTime":1533.14,"endTime":1536.798,"body":"make a lot of sense that, we're for"},{"speaker":"Average Joe Finances","startTime":1536.808,"endTime":1540.378,"body":"the, for there to be such a rise"},{"speaker":"Average Joe Finances","startTime":1536.808,"endTime":1540.378,"body":"in such a big difference that not,"},{"speaker":"Average Joe Finances","startTime":1540.728,"endTime":1542.388,"body":"there's not enough retail investors."},{"speaker":"Average Joe Finances","startTime":1543.228,"endTime":1544.488,"body":"To get it to that point."},{"speaker":"Average Joe Finances","startTime":1544.553,"endTime":1545.183,"body":"I think what is it?"},{"speaker":"Average Joe Finances","startTime":1545.221,"endTime":1548.955,"body":"90% of the market is institutional."},{"speaker":"Average Joe Finances","startTime":1549.72,"endTime":1554.748,"body":"Money 10% is, you and me, the"},{"speaker":"Average Joe Finances","startTime":1549.72,"endTime":1554.748,"body":"everyday average Joe investor, or"},{"speaker":"Average Joe Finances","startTime":1554.748,"endTime":1557.522,"body":"trader that's the the other 10%."},{"speaker":"Average Joe Finances","startTime":1557.571,"endTime":1560.061,"body":"When you put it into that"},{"speaker":"Average Joe Finances","startTime":1557.571,"endTime":1560.061,"body":"light, it makes a lot of sense."},{"speaker":"Average Joe Finances","startTime":1560.361,"endTime":1567.021,"body":"10% can make a significant difference,"},{"speaker":"Average Joe Finances","startTime":1560.361,"endTime":1567.021,"body":"but the hiding on the entire 10%"},{"speaker":"Average Joe Finances","startTime":1567.981,"endTime":1571.401,"body":"difference, I didn't invest in game stop."},{"speaker":"Average Joe Finances","startTime":1571.431,"endTime":1572.721,"body":"You didn't invest in game stop."},{"speaker":"David Torrence","startTime":1572.73,"endTime":1573.712,"body":"No, I"},{"speaker":"David Torrence","startTime":1572.73,"endTime":1573.712,"body":"didn't trade it either."},{"speaker":"David Torrence","startTime":1573.712,"endTime":1575.242,"body":"And that's the thing, even."},{"speaker":"David Torrence","startTime":1575.311,"endTime":1576.271,"body":"And this is what I tell people."},{"speaker":"David Torrence","startTime":1576.271,"endTime":1580.381,"body":"If you think there's enough people to"},{"speaker":"David Torrence","startTime":1576.271,"endTime":1580.381,"body":"buy it, you got to remember, it's an"},{"speaker":"David Torrence","startTime":1580.381,"endTime":1582.451,"body":"order for a stock to hold that long."},{"speaker":"David Torrence","startTime":1582.451,"endTime":1584.491,"body":"You have to continue to buy it."},{"speaker":"David Torrence","startTime":1585.451,"endTime":1587.731,"body":"That's the kicker who, I don't know."},{"speaker":"David Torrence","startTime":1587.791,"endTime":1590.281,"body":"I don't know about you, but I don't"},{"speaker":"David Torrence","startTime":1587.791,"endTime":1590.281,"body":"know whether the people that I"},{"speaker":"David Torrence","startTime":1590.281,"endTime":1594.991,"body":"know that are working normal jobs"},{"speaker":"David Torrence","startTime":1590.281,"endTime":1594.991,"body":"day to day, they don't have $200."},{"speaker":"David Torrence","startTime":1594.991,"endTime":1597.571,"body":"It'd be buying a stock every day."},{"speaker":"David Torrence","startTime":1597.659,"endTime":1598.514,"body":"That's almost yeah."},{"speaker":"David Torrence","startTime":1598.544,"endTime":1603.884,"body":"Or car bill, if I'm no one has, I"},{"speaker":"David Torrence","startTime":1598.544,"endTime":1603.884,"body":"don't really have money to buy a stock."},{"speaker":"David Torrence","startTime":1604.364,"endTime":1608.324,"body":"Every, that same stock every day for"},{"speaker":"David Torrence","startTime":1604.364,"endTime":1608.324,"body":"this amount of time that has been held"},{"speaker":"David Torrence","startTime":1608.324,"endTime":1612.854,"body":"up this long there's no, that was just"},{"speaker":"David Torrence","startTime":1608.324,"endTime":1612.854,"body":"retail traders doing that or behind it."},{"speaker":"David Torrence","startTime":1612.864,"endTime":1617.626,"body":"So I called BS to the news that says it is"},{"speaker":"David Torrence","startTime":1612.864,"endTime":1617.626,"body":"and if someone thinks I'm wrong, I would"},{"speaker":"David Torrence","startTime":1617.626,"endTime":1620.926,"body":"love to see the backs to prove, because"},{"speaker":"David Torrence","startTime":1617.626,"endTime":1620.926,"body":"I just don't see the numbers adding up."},{"speaker":"Average Joe Finances","startTime":1621.526,"endTime":1621.636,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1621.636,"endTime":1623.709,"body":"I like it, and I think part of it too, is."},{"speaker":"Average Joe Finances","startTime":1625.629,"endTime":1630.955,"body":"Yeah, you get fed information every"},{"speaker":"Average Joe Finances","startTime":1625.629,"endTime":1630.955,"body":"day from the news, from all the"},{"speaker":"Average Joe Finances","startTime":1630.955,"endTime":1634.776,"body":"different media outlets, news articles,"},{"speaker":"Average Joe Finances","startTime":1630.955,"endTime":1634.776,"body":"online TV, CNBC, and all that stuff."},{"speaker":"Average Joe Finances","startTime":1634.846,"endTime":1636.96,"body":"And as you're sitting here"},{"speaker":"Average Joe Finances","startTime":1634.846,"endTime":1636.96,"body":"watching this stuff, you keep"},{"speaker":"Average Joe Finances","startTime":1636.96,"endTime":1638.98,"body":"hearing that it's the Reddit crew."},{"speaker":"Average Joe Finances","startTime":1638.98,"endTime":1643.022,"body":"It's these guys, the diamond hands"},{"speaker":"Average Joe Finances","startTime":1638.98,"endTime":1643.022,"body":"crew, and you keep thinking, oh wow."},{"speaker":"Average Joe Finances","startTime":1643.05,"endTime":1644.867,"body":"These guys are really"},{"speaker":"Average Joe Finances","startTime":1643.05,"endTime":1644.867,"body":"sticking it to the man."},{"speaker":"Average Joe Finances","startTime":1644.877,"endTime":1646.675,"body":"But at the same time, it's"},{"speaker":"Average Joe Finances","startTime":1644.877,"endTime":1646.675,"body":"you know what you're saying?"},{"speaker":"Average Joe Finances","startTime":1646.675,"endTime":1647.515,"body":"Makes perfect sense."},{"speaker":"Average Joe Finances","startTime":1647.515,"endTime":1649.222,"body":"Like how are you"},{"speaker":"Average Joe Finances","startTime":1647.515,"endTime":1649.222,"body":"maintaining at this point?"},{"speaker":"Average Joe Finances","startTime":1649.222,"endTime":1650.242,"body":"Cause I can tell you right now."},{"speaker":"Average Joe Finances","startTime":1650.269,"endTime":1654.051,"body":"If I had game stop at $20 a share"},{"speaker":"Average Joe Finances","startTime":1650.269,"endTime":1654.051,"body":"and I had that many shares that"},{"speaker":"Average Joe Finances","startTime":1654.051,"endTime":1656.551,"body":"when it jumped up to 370, Okay."},{"speaker":"Average Joe Finances","startTime":1656.881,"endTime":1660.121,"body":"Those diamond hands are crystallizing"},{"speaker":"Average Joe Finances","startTime":1656.881,"endTime":1660.121,"body":"and melting because I would've been"},{"speaker":"Average Joe Finances","startTime":1660.921,"endTime":1665.221,"body":"like exactly like here on $40 million"},{"speaker":"Average Joe Finances","startTime":1660.921,"endTime":1665.221,"body":"and be like, I'm going to hold"},{"speaker":"Average Joe Finances","startTime":1665.221,"endTime":1666.901,"body":"40 mil at a, stick it to the man."},{"speaker":"Average Joe Finances","startTime":1667.681,"endTime":1672.091,"body":"Nah, man, I'm selling find my"},{"speaker":"Average Joe Finances","startTime":1667.681,"endTime":1672.091,"body":"sailboat and I'm outta here."},{"speaker":"David Torrence","startTime":1672.631,"endTime":1672.931,"body":"Correct?"},{"speaker":"David Torrence","startTime":1673.021,"endTime":1675.961,"body":"Human psychology tells us people"},{"speaker":"David Torrence","startTime":1673.021,"endTime":1675.961,"body":"whether it's a prophet a long"},{"speaker":"David Torrence","startTime":1675.961,"endTime":1680.477,"body":"time ago and remember it and for"},{"speaker":"David Torrence","startTime":1675.961,"endTime":1680.477,"body":"the viewers Stock price usually"},{"speaker":"David Torrence","startTime":1680.477,"endTime":1682.007,"body":"changed by supply and demand."},{"speaker":"David Torrence","startTime":1682.007,"endTime":1684.857,"body":"So if everyone's selling all"},{"speaker":"David Torrence","startTime":1682.007,"endTime":1684.857,"body":"their shares from making a profit,"},{"speaker":"David Torrence","startTime":1685.067,"endTime":1686.447,"body":"the stock crashed typically."},{"speaker":"Average Joe Finances","startTime":1688.367,"endTime":1688.667,"body":"Yep."},{"speaker":"Average Joe Finances","startTime":1688.907,"endTime":1689.627,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":1689.927,"endTime":1691.167,"body":"And it did dip a little bit."},{"speaker":"Average Joe Finances","startTime":1691.387,"endTime":1696.811,"body":"That's probably all the re all the"},{"speaker":"Average Joe Finances","startTime":1691.387,"endTime":1696.811,"body":"the individual investors sitting"},{"speaker":"Average Joe Finances","startTime":1696.811,"endTime":1700.561,"body":"out there selling their own stocks"},{"speaker":"Average Joe Finances","startTime":1696.811,"endTime":1700.561,"body":"and getting out when it was so high."},{"speaker":"Average Joe Finances","startTime":1700.981,"endTime":1705.241,"body":"Now I know some people that traded"},{"speaker":"Average Joe Finances","startTime":1700.981,"endTime":1705.241,"body":"GameStop and AMC and all those"},{"speaker":"Average Joe Finances","startTime":1705.241,"endTime":1708.091,"body":"Blackberry, all the meme stocks."},{"speaker":"Average Joe Finances","startTime":1708.125,"endTime":1710.344,"body":"And Every single one of"},{"speaker":"Average Joe Finances","startTime":1708.125,"endTime":1710.344,"body":"them, I'm pretty sure."},{"speaker":"Average Joe Finances","startTime":1710.374,"endTime":1713.434,"body":"Or out now of my friends that I"},{"speaker":"Average Joe Finances","startTime":1710.374,"endTime":1713.434,"body":"know that bought into that stuff."},{"speaker":"Average Joe Finances","startTime":1713.446,"endTime":1716.794,"body":"I think part of this whole thing, I want"},{"speaker":"Average Joe Finances","startTime":1713.446,"endTime":1716.794,"body":"to kind of transition into something"},{"speaker":"Average Joe Finances","startTime":1716.794,"endTime":1718.183,"body":"else that you wanted to talk about."},{"speaker":"Average Joe Finances","startTime":1718.183,"endTime":1721.463,"body":"Because we talked about, I"},{"speaker":"Average Joe Finances","startTime":1718.183,"endTime":1721.463,"body":"want to rewind back to that."},{"speaker":"Average Joe Finances","startTime":1722.363,"endTime":1725.48,"body":"One of the fundamentals we"},{"speaker":"Average Joe Finances","startTime":1722.363,"endTime":1725.48,"body":"started with, which was education."},{"speaker":"Average Joe Finances","startTime":1725.509,"endTime":1729.072,"body":"And the thing that got you started"},{"speaker":"Average Joe Finances","startTime":1725.509,"endTime":1729.072,"body":"and how you learned how to trade."},{"speaker":"Average Joe Finances","startTime":1729.085,"endTime":1730.825,"body":"And how important that is with education."},{"speaker":"Average Joe Finances","startTime":1731.155,"endTime":1735.895,"body":"One of the things that you and I"},{"speaker":"Average Joe Finances","startTime":1731.155,"endTime":1735.895,"body":"talked about was at what age, like you"},{"speaker":"Average Joe Finances","startTime":1735.895,"endTime":1739.752,"body":"asked me at what age did I realize,"},{"speaker":"Average Joe Finances","startTime":1735.895,"endTime":1739.752,"body":"that I needed to make this change."},{"speaker":"Average Joe Finances","startTime":1739.782,"endTime":1742.821,"body":"And I, I told you significantly later"},{"speaker":"Average Joe Finances","startTime":1739.782,"endTime":1742.821,"body":"than when you realize that, one of"},{"speaker":"Average Joe Finances","startTime":1742.821,"endTime":1744.111,"body":"the topics you wanted to discuss."},{"speaker":"Average Joe Finances","startTime":1744.163,"endTime":1748.003,"body":"And I love this topic is teaching"},{"speaker":"Average Joe Finances","startTime":1744.163,"endTime":1748.003,"body":"children about investing, right?"},{"speaker":"Average Joe Finances","startTime":1748.453,"endTime":1749.983,"body":"And for me, it's about."},{"speaker":"Average Joe Finances","startTime":1751.108,"endTime":1753.988,"body":"Just teaching them financial"},{"speaker":"Average Joe Finances","startTime":1751.108,"endTime":1753.988,"body":"and fiscal responsibility."},{"speaker":"Average Joe Finances","startTime":1754.052,"endTime":1757.46,"body":"And this is something that you"},{"speaker":"Average Joe Finances","startTime":1754.052,"endTime":1757.46,"body":"don't see in public education."},{"speaker":"Average Joe Finances","startTime":1758.03,"endTime":1761.101,"body":"Now my, my children are"},{"speaker":"Average Joe Finances","startTime":1758.03,"endTime":1761.101,"body":"homeschooled, and part of our"},{"speaker":"Average Joe Finances","startTime":1761.101,"endTime":1763.471,"body":"curriculum is financial literacy."},{"speaker":"Average Joe Finances","startTime":1763.501,"endTime":1767.341,"body":"So we make sure they understand"},{"speaker":"Average Joe Finances","startTime":1763.501,"endTime":1767.341,"body":"how to make a budget out of"},{"speaker":"Average Joe Finances","startTime":1767.341,"endTime":1768.841,"body":"pay bills and things like that."},{"speaker":"Average Joe Finances","startTime":1768.841,"endTime":1770.311,"body":"I'm teaching them at a very young age."},{"speaker":"Average Joe Finances","startTime":1771.031,"endTime":1776.761,"body":"So that when they do move on out of"},{"speaker":"Average Joe Finances","startTime":1771.031,"endTime":1776.761,"body":"the house at the age of 18 or 30, or"},{"speaker":"Average Joe Finances","startTime":1776.761,"endTime":1779.461,"body":"whenever they want to leave, cause I'd"},{"speaker":"Average Joe Finances","startTime":1776.761,"endTime":1779.461,"body":"like them to stay as long as they can."},{"speaker":"Average Joe Finances","startTime":1779.851,"endTime":1780.301,"body":"They love them."},{"speaker":"Average Joe Finances","startTime":1780.301,"endTime":1780.871,"body":"They're awesome."},{"speaker":"Average Joe Finances","startTime":1780.894,"endTime":1785.856,"body":"But at the same time, it's I want to know"},{"speaker":"Average Joe Finances","startTime":1780.894,"endTime":1785.856,"body":"that when they walk out the door for the"},{"speaker":"Average Joe Finances","startTime":1785.856,"endTime":1789.078,"body":"last time, for that, they're not going"},{"speaker":"Average Joe Finances","startTime":1785.856,"endTime":1789.078,"body":"to be sleeping under this roof anymore."},{"speaker":"Average Joe Finances","startTime":1789.813,"endTime":1792.723,"body":"That I have set them up for success."},{"speaker":"Average Joe Finances","startTime":1792.723,"endTime":1796.593,"body":"And not that I'm just going to give them"},{"speaker":"Average Joe Finances","startTime":1792.723,"endTime":1796.593,"body":"money and go say, Hey, go live your life."},{"speaker":"Average Joe Finances","startTime":1796.593,"endTime":1798.732,"body":"I, I invested enough for"},{"speaker":"Average Joe Finances","startTime":1796.593,"endTime":1798.732,"body":"us all, so here you go."},{"speaker":"Average Joe Finances","startTime":1799.182,"endTime":1802.062,"body":"No, I want them to go out and"},{"speaker":"Average Joe Finances","startTime":1799.182,"endTime":1802.062,"body":"learn and earn themselves."},{"speaker":"Average Joe Finances","startTime":1802.083,"endTime":1806.374,"body":"So getting into the topic of teaching"},{"speaker":"Average Joe Finances","startTime":1802.083,"endTime":1806.374,"body":"children about investing, what is it"},{"speaker":"Average Joe Finances","startTime":1806.374,"endTime":1807.862,"body":"about that you're passionate about?"},{"speaker":"Average Joe Finances","startTime":1808.612,"endTime":1808.882,"body":"Yeah."},{"speaker":"David Torrence","startTime":1808.882,"endTime":1811.522,"body":"So I'm really"},{"speaker":"David Torrence","startTime":1808.882,"endTime":1811.522,"body":"passionate about that because I'm in"},{"speaker":"David Torrence","startTime":1811.522,"endTime":1815.114,"body":"my household and many people that I"},{"speaker":"David Torrence","startTime":1811.522,"endTime":1815.114,"body":"speak to dad is usually the breadwinner."},{"speaker":"David Torrence","startTime":1816.059,"endTime":1820.689,"body":"And that makes the money and the family"},{"speaker":"David Torrence","startTime":1816.059,"endTime":1820.689,"body":"is just a comfortable, and that's"},{"speaker":"David Torrence","startTime":1820.689,"endTime":1825.101,"body":"typically, or right where you struggle"},{"speaker":"David Torrence","startTime":1820.689,"endTime":1825.101,"body":"and mom does what she can to make"},{"speaker":"David Torrence","startTime":1825.101,"endTime":1827.441,"body":"money and you go about life as such."},{"speaker":"David Torrence","startTime":1827.526,"endTime":1830.479,"body":"So one of the things that I'm"},{"speaker":"David Torrence","startTime":1827.526,"endTime":1830.479,"body":"really passionate about and I"},{"speaker":"David Torrence","startTime":1830.479,"endTime":1834.499,"body":"care about is teaching children"},{"speaker":"David Torrence","startTime":1830.479,"endTime":1834.499,"body":"about investing in my nonprofit."},{"speaker":"David Torrence","startTime":1834.506,"endTime":1835.877,"body":"That's what we're able to do."},{"speaker":"David Torrence","startTime":1835.908,"endTime":1837.484,"body":"I created a stock market activity."},{"speaker":"David Torrence","startTime":1837.487,"endTime":1838.907,"body":"It's called the wash street twins."},{"speaker":"David Torrence","startTime":1838.913,"endTime":1843.143,"body":"And it's basically the entry level weight"},{"speaker":"David Torrence","startTime":1838.913,"endTime":1843.143,"body":"of kids to learn about the stock market."},{"speaker":"David Torrence","startTime":1843.143,"endTime":1845.003,"body":"So they learn what time the market opens."},{"speaker":"David Torrence","startTime":1845.003,"endTime":1848.453,"body":"They learn what a bull market"},{"speaker":"David Torrence","startTime":1845.003,"endTime":1848.453,"body":"is, what a bear market is, where"},{"speaker":"David Torrence","startTime":1848.453,"endTime":1851.973,"body":"the asset is a liability and not"},{"speaker":"David Torrence","startTime":1848.453,"endTime":1851.973,"body":"through words through illustrations."},{"speaker":"David Torrence","startTime":1851.973,"endTime":1855.841,"body":"So I'm really passionate about that"},{"speaker":"David Torrence","startTime":1851.973,"endTime":1855.841,"body":"because kids, unbeknownst to parents, you"},{"speaker":"David Torrence","startTime":1855.841,"endTime":1860.891,"body":"can teach your kids as soon as the age of"},{"speaker":"David Torrence","startTime":1855.841,"endTime":1860.891,"body":"six, about how to invest is very simple."},{"speaker":"David Torrence","startTime":1860.891,"endTime":1861.832,"body":"What does green mean?"},{"speaker":"David Torrence","startTime":1861.832,"endTime":1862.262,"body":"Green means."},{"speaker":"David Torrence","startTime":1862.262,"endTime":1865.254,"body":"It means down, they can stay"},{"speaker":"David Torrence","startTime":1862.262,"endTime":1865.254,"body":"know the color and signal over"},{"speaker":"David Torrence","startTime":1865.254,"endTime":1866.494,"body":"a candle stick right there."},{"speaker":"David Torrence","startTime":1866.571,"endTime":1867.531,"body":"But what does a bull market?"},{"speaker":"David Torrence","startTime":1867.561,"endTime":1869.481,"body":"It was a bear market,"},{"speaker":"David Torrence","startTime":1867.561,"endTime":1869.481,"body":"mean things of that sort."},{"speaker":"David Torrence","startTime":1869.522,"endTime":1871.277,"body":"How many sectors are there in the market?"},{"speaker":"David Torrence","startTime":1871.307,"endTime":1872.057,"body":"There's 11."},{"speaker":"David Torrence","startTime":1872.387,"endTime":1872.967,"body":"Those are cool."},{"speaker":"David Torrence","startTime":1872.967,"endTime":1873.607,"body":"Little fun facts."},{"speaker":"David Torrence","startTime":1873.637,"endTime":1877.397,"body":"You can teach your child name, a"},{"speaker":"David Torrence","startTime":1873.637,"endTime":1877.397,"body":"company in the stock market, apple"},{"speaker":"David Torrence","startTime":1877.577,"endTime":1879.647,"body":"right there on your tablet all the time."},{"speaker":"David Torrence","startTime":1879.917,"endTime":1881.937,"body":"What's another company"},{"speaker":"David Torrence","startTime":1879.917,"endTime":1881.937,"body":"you can invest in Tesla."},{"speaker":"David Torrence","startTime":1881.937,"endTime":1885.746,"body":"There are no, that's a car and all you're"},{"speaker":"David Torrence","startTime":1881.937,"endTime":1885.746,"body":"doing right now is just teaching them."},{"speaker":"David Torrence","startTime":1886.691,"endTime":1891.251,"body":"The basic illustration and the lingo of"},{"speaker":"David Torrence","startTime":1886.691,"endTime":1891.251,"body":"investing, because if you can teach your"},{"speaker":"David Torrence","startTime":1891.251,"endTime":1893.891,"body":"child that lingo that's half the battle."},{"speaker":"David Torrence","startTime":1894.101,"endTime":1897.851,"body":"I believe that investing for a long time"},{"speaker":"David Torrence","startTime":1894.101,"endTime":1897.851,"body":"was not meant for the general public."},{"speaker":"David Torrence","startTime":1898.241,"endTime":1902.471,"body":"So there was a high barrier of entry"},{"speaker":"David Torrence","startTime":1898.241,"endTime":1902.471,"body":"because of the language you hear inflation"},{"speaker":"David Torrence","startTime":1902.471,"endTime":1905.704,"body":"here, quantitative easing these words"},{"speaker":"David Torrence","startTime":1902.471,"endTime":1905.704,"body":"pushed back oh, there's too much."},{"speaker":"David Torrence","startTime":1905.735,"endTime":1908.555,"body":"Or if you are into it, you don't want to"},{"speaker":"David Torrence","startTime":1905.735,"endTime":1908.555,"body":"learn enough about it to get good at it."},{"speaker":"David Torrence","startTime":1908.555,"endTime":1911.775,"body":"You just know you want to put your"},{"speaker":"David Torrence","startTime":1908.555,"endTime":1911.775,"body":"money here and you make this some return"},{"speaker":"David Torrence","startTime":1911.795,"endTime":1915.125,"body":"you get out and you try to do it again"},{"speaker":"David Torrence","startTime":1911.795,"endTime":1915.125,"body":"with the ducks, but you really don't"},{"speaker":"David Torrence","startTime":1915.125,"endTime":1916.905,"body":"get into the Nicks and crevices of it."},{"speaker":"David Torrence","startTime":1916.936,"endTime":1919.066,"body":"So I'm really passionate about"},{"speaker":"David Torrence","startTime":1916.936,"endTime":1919.066,"body":"teaching children about investing,"},{"speaker":"David Torrence","startTime":1919.066,"endTime":1920.986,"body":"because I believe that's how"},{"speaker":"David Torrence","startTime":1919.066,"endTime":1920.986,"body":"we bridge the wealth gap."},{"speaker":"David Torrence","startTime":1921.586,"endTime":1923.896,"body":"I believe that we can bridge"},{"speaker":"David Torrence","startTime":1921.586,"endTime":1923.896,"body":"the wealth gap by starting at a"},{"speaker":"David Torrence","startTime":1923.896,"endTime":1925.906,"body":"young age and just introducing."},{"speaker":"David Torrence","startTime":1926.956,"endTime":1928.246,"body":"To the images, right?"},{"speaker":"David Torrence","startTime":1928.246,"endTime":1929.776,"body":"Many kids learn through images."},{"speaker":"David Torrence","startTime":1929.806,"endTime":1932.266,"body":"They don't know a kid doesn't know"},{"speaker":"David Torrence","startTime":1929.806,"endTime":1932.266,"body":"what an app they don't know when"},{"speaker":"David Torrence","startTime":1932.266,"endTime":1937.467,"body":"they say apple, L C a P L E C a big"},{"speaker":"David Torrence","startTime":1932.266,"endTime":1937.467,"body":"red thing where low stem at the top."},{"speaker":"David Torrence","startTime":1937.523,"endTime":1939.683,"body":"It's the illustrations in which"},{"speaker":"David Torrence","startTime":1937.523,"endTime":1939.683,"body":"we should be teaching kids."},{"speaker":"David Torrence","startTime":1939.683,"endTime":1943.462,"body":"So we should use that traditional"},{"speaker":"David Torrence","startTime":1939.683,"endTime":1943.462,"body":"way of learning as our forefront"},{"speaker":"David Torrence","startTime":1943.462,"endTime":1944.592,"body":"of how we teach them about."},{"speaker":"Average Joe Finances","startTime":1946.357,"endTime":1947.437,"body":"Yeah, I love that."},{"speaker":"Average Joe Finances","startTime":1947.497,"endTime":1948.543,"body":"That's absolutely amazing."},{"speaker":"Average Joe Finances","startTime":1948.574,"endTime":1952.744,"body":"And you're doing that right now"},{"speaker":"Average Joe Finances","startTime":1948.574,"endTime":1952.744,"body":"with your nonprofit and that's"},{"speaker":"Average Joe Finances","startTime":1952.744,"endTime":1954.574,"body":"called KP cares foundation, right?"},{"speaker":"Average Joe Finances","startTime":1954.934,"endTime":1955.474,"body":"Correct."},{"speaker":"Average Joe Finances","startTime":1955.744,"endTime":1955.954,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1955.984,"endTime":1957.512,"body":"David that's phenomenal, man."},{"speaker":"Average Joe Finances","startTime":1957.512,"endTime":1959.357,"body":"So you're doing things right now."},{"speaker":"Average Joe Finances","startTime":1959.357,"endTime":1961.83,"body":"I know in your bio, we"},{"speaker":"Average Joe Finances","startTime":1959.357,"endTime":1961.83,"body":"talked about, you're also a"},{"speaker":"Average Joe Finances","startTime":1961.83,"endTime":1964.877,"body":"philanthropist and everything"},{"speaker":"Average Joe Finances","startTime":1961.83,"endTime":1964.877,"body":"the fact that you're giving back."},{"speaker":"Average Joe Finances","startTime":1965.657,"endTime":1969.962,"body":"So much is it has, it carries so"},{"speaker":"Average Joe Finances","startTime":1965.657,"endTime":1969.962,"body":"much more meaning than just this"},{"speaker":"Average Joe Finances","startTime":1969.962,"endTime":1971.282,"body":"conversation that we're having."},{"speaker":"Average Joe Finances","startTime":1971.338,"endTime":1971.758,"body":"You know what I'm saying?"},{"speaker":"Average Joe Finances","startTime":1971.788,"endTime":1975.287,"body":"So it's there's power in that"},{"speaker":"Average Joe Finances","startTime":1971.788,"endTime":1975.287,"body":"and, part of that is, you're going"},{"speaker":"Average Joe Finances","startTime":1975.287,"endTime":1976.937,"body":"to get that back in abundance."},{"speaker":"Average Joe Finances","startTime":1976.976,"endTime":1978.197,"body":"What you're giving back."},{"speaker":"Average Joe Finances","startTime":1978.992,"endTime":1979.742,"body":"It's amazing."},{"speaker":"Average Joe Finances","startTime":1979.742,"endTime":1983.702,"body":"When you can give back to a community"},{"speaker":"Average Joe Finances","startTime":1979.742,"endTime":1983.702,"body":"or you can help others, how much"},{"speaker":"Average Joe Finances","startTime":1983.762,"endTime":1984.992,"body":"you get back in return for that."},{"speaker":"Average Joe Finances","startTime":1984.992,"endTime":1989.252,"body":"Not, and it's not just like a self pat"},{"speaker":"Average Joe Finances","startTime":1984.992,"endTime":1989.252,"body":"on the back or the gratification you get"},{"speaker":"Average Joe Finances","startTime":1989.252,"endTime":1990.902,"body":"out of it, but that is definitely nice."},{"speaker":"Average Joe Finances","startTime":1990.93,"endTime":1993.916,"body":"That you're you, it makes you feel good"},{"speaker":"Average Joe Finances","startTime":1990.93,"endTime":1993.916,"body":"when you're able to help other people,"},{"speaker":"Average Joe Finances","startTime":1994.015,"endTime":1997.538,"body":"when you can actually see the difference"},{"speaker":"Average Joe Finances","startTime":1994.015,"endTime":1997.538,"body":"that you've made and children in the"},{"speaker":"Average Joe Finances","startTime":1997.538,"endTime":2000.756,"body":"future I, I'm going a little bit down a"},{"speaker":"Average Joe Finances","startTime":1997.538,"endTime":2000.756,"body":"rabbit hole here, like when you're a bit"},{"speaker":"Average Joe Finances","startTime":2000.756,"endTime":2005.459,"body":"older in age and you start seeing some"},{"speaker":"Average Joe Finances","startTime":2000.756,"endTime":2005.459,"body":"of these kids that, that read your book"},{"speaker":"Average Joe Finances","startTime":2005.459,"endTime":2009.932,"body":"or learned about stock market at such a"},{"speaker":"Average Joe Finances","startTime":2005.459,"endTime":2009.932,"body":"young age, thanks to, listening to you or"},{"speaker":"Average Joe Finances","startTime":2009.932,"endTime":2013.812,"body":"advice that you've given in the past, and"},{"speaker":"Average Joe Finances","startTime":2009.932,"endTime":2013.812,"body":"you're sitting there in your rocking chair"},{"speaker":"Average Joe Finances","startTime":2013.812,"endTime":2017.942,"body":"one day and you're like, yeah, being these"},{"speaker":"Average Joe Finances","startTime":2013.812,"endTime":2017.942,"body":"kids just being successful entrepreneurs."},{"speaker":"Average Joe Finances","startTime":2017.988,"endTime":2021.631,"body":"And that you had an impact on that,"},{"speaker":"Average Joe Finances","startTime":2017.988,"endTime":2021.631,"body":"man, what a way to have a good life?"},{"speaker":"Average Joe Finances","startTime":2021.931,"endTime":2022.471,"body":"You know what I'm saying?"},{"speaker":"Average Joe Finances","startTime":2022.501,"endTime":2022.651,"body":"Yeah,"},{"speaker":"David Torrence","startTime":2023.371,"endTime":2023.971,"body":"no, I agree."},{"speaker":"David Torrence","startTime":2023.971,"endTime":2026.821,"body":"A hundred percent and I don't have"},{"speaker":"David Torrence","startTime":2023.971,"endTime":2026.821,"body":"children yet, but you know what I,"},{"speaker":"David Torrence","startTime":2027.211,"endTime":2030.767,"body":"another reason I wanted something"},{"speaker":"David Torrence","startTime":2027.211,"endTime":2030.767,"body":"for my kids, I need, that's how I"},{"speaker":"David Torrence","startTime":2030.767,"endTime":2033.691,"body":"got, so I was like I wanted to make"},{"speaker":"David Torrence","startTime":2030.767,"endTime":2033.691,"body":"sure my kid is just as good as I am."},{"speaker":"David Torrence","startTime":2033.696,"endTime":2035.436,"body":"How can I get them to be 27?"},{"speaker":"David Torrence","startTime":2035.477,"endTime":2036.567,"body":"How can I get them to learn?"},{"speaker":"David Torrence","startTime":2036.857,"endTime":2039.107,"body":"And that was kinda the"},{"speaker":"David Torrence","startTime":2036.857,"endTime":2039.107,"body":"initial thought process."},{"speaker":"David Torrence","startTime":2039.377,"endTime":2043.136,"body":"And if I can make another statement in"},{"speaker":"David Torrence","startTime":2039.377,"endTime":2043.136,"body":"addition to that I want to step through."},{"speaker":"David Torrence","startTime":2043.136,"endTime":2047.29,"body":"Currently I have three youth investing"},{"speaker":"David Torrence","startTime":2043.136,"endTime":2047.29,"body":"programs that will be starting this year."},{"speaker":"David Torrence","startTime":2047.29,"endTime":2051.035,"body":"And the reason why I'm really happy"},{"speaker":"David Torrence","startTime":2047.29,"endTime":2051.035,"body":"about those is for two reasons, number"},{"speaker":"David Torrence","startTime":2051.035,"endTime":2055.355,"body":"one, the human capital in which I'll be"},{"speaker":"David Torrence","startTime":2051.035,"endTime":2055.355,"body":"giving them in terms of them learning"},{"speaker":"David Torrence","startTime":2055.355,"endTime":2056.765,"body":"and their intellectual property."},{"speaker":"David Torrence","startTime":2058.025,"endTime":2061.085,"body":"The second thing is through these"},{"speaker":"David Torrence","startTime":2058.025,"endTime":2061.085,"body":"investment programs for being in a"},{"speaker":"David Torrence","startTime":2061.085,"endTime":2065.7,"body":"six month program we have a sponsored"},{"speaker":"David Torrence","startTime":2061.085,"endTime":2065.7,"body":"that have Sponsor each kiss or east"},{"speaker":"David Torrence","startTime":2065.7,"endTime":2068.43,"body":"care, we'll be starting off with $350."},{"speaker":"David Torrence","startTime":2068.88,"endTime":2071.16,"body":"And I will invest that $350."},{"speaker":"David Torrence","startTime":2071.19,"endTime":2073.53,"body":"And at the end of the program"},{"speaker":"David Torrence","startTime":2071.19,"endTime":2073.53,"body":"to have a scholarship waiting"},{"speaker":"David Torrence","startTime":2073.53,"endTime":2076.32,"body":"for them to start their real"},{"speaker":"David Torrence","startTime":2073.53,"endTime":2076.32,"body":"investment account with a lot more."},{"speaker":"David Torrence","startTime":2076.335,"endTime":2079.355,"body":"So that I'm so not only am I able to"},{"speaker":"David Torrence","startTime":2076.335,"endTime":2079.355,"body":"give human capital, but I'm also able"},{"speaker":"David Torrence","startTime":2079.355,"endTime":2081.945,"body":"to give equity to the communities"},{"speaker":"David Torrence","startTime":2079.355,"endTime":2081.945,"body":"in which I want to see do better."},{"speaker":"David Torrence","startTime":2081.945,"endTime":2085.601,"body":"Cause a lot of times parents don't"},{"speaker":"David Torrence","startTime":2081.945,"endTime":2085.601,"body":"have that extra money or free cash"},{"speaker":"David Torrence","startTime":2085.631,"endTime":2088.947,"body":"flow, sitting to the side to get"},{"speaker":"David Torrence","startTime":2085.631,"endTime":2088.947,"body":"their kids started to buy a couple"},{"speaker":"David Torrence","startTime":2088.947,"endTime":2091.737,"body":"of shares of apple to start a"},{"speaker":"David Torrence","startTime":2088.947,"endTime":2091.737,"body":"custodial account for their child."},{"speaker":"David Torrence","startTime":2093.117,"endTime":2096.777,"body":"You go through this program, you learn"},{"speaker":"David Torrence","startTime":2093.117,"endTime":2096.777,"body":"for free, we'll find the investors and"},{"speaker":"David Torrence","startTime":2096.777,"endTime":2098.157,"body":"the people who want to invest in you."},{"speaker":"David Torrence","startTime":2098.157,"endTime":2099.507,"body":"And we'll put that capital use."},{"speaker":"David Torrence","startTime":2099.687,"endTime":2101.937,"body":"No, I have a scholarship"},{"speaker":"David Torrence","startTime":2099.687,"endTime":2101.937,"body":"waiting for you at the end."},{"speaker":"David Torrence","startTime":2102.237,"endTime":2103.907,"body":"One of the programs, we"},{"speaker":"David Torrence","startTime":2102.237,"endTime":2103.907,"body":"went a little step further."},{"speaker":"David Torrence","startTime":2104.457,"endTime":2107.217,"body":"They get, instead of a scholarship,"},{"speaker":"David Torrence","startTime":2104.457,"endTime":2107.217,"body":"they have crypto waiting for them."},{"speaker":"David Torrence","startTime":2107.217,"endTime":2109.238,"body":"At the end of the program, we're"},{"speaker":"David Torrence","startTime":2107.217,"endTime":2109.238,"body":"going to give all of them at"},{"speaker":"David Torrence","startTime":2109.238,"endTime":2112.208,"body":"one token of a theorem, which"},{"speaker":"David Torrence","startTime":2109.238,"endTime":2112.208,"body":"took about $2,000 right now."},{"speaker":"David Torrence","startTime":2113.138,"endTime":2118.058,"body":"So we're really giving equity, not"},{"speaker":"David Torrence","startTime":2113.138,"endTime":2118.058,"body":"only human capital to these students."},{"speaker":"David Torrence","startTime":2118.088,"endTime":2120.238,"body":"And that's something"},{"speaker":"David Torrence","startTime":2118.088,"endTime":2120.238,"body":"I'm really happy about."},{"speaker":"David Torrence","startTime":2121.298,"endTime":2123.368,"body":"I'm not just giving them encouragement."},{"speaker":"David Torrence","startTime":2123.368,"endTime":2125.468,"body":"I'm giving them the money"},{"speaker":"David Torrence","startTime":2123.368,"endTime":2125.468,"body":"so that they can do it."},{"speaker":"David Torrence","startTime":2125.738,"endTime":2129.098,"body":"And because they are so young, the"},{"speaker":"David Torrence","startTime":2125.738,"endTime":2129.098,"body":"thing I didn't throw in there, these"},{"speaker":"David Torrence","startTime":2129.098,"endTime":2130.688,"body":"are one of the programs high school."},{"speaker":"David Torrence","startTime":2130.868,"endTime":2132.608,"body":"They won't get that money"},{"speaker":"David Torrence","startTime":2130.868,"endTime":2132.608,"body":"today, finish high school."},{"speaker":"David Torrence","startTime":2132.608,"endTime":2134.648,"body":"So that's one of the criteria"},{"speaker":"David Torrence","startTime":2132.608,"endTime":2134.648,"body":"you have to finish high school."},{"speaker":"David Torrence","startTime":2134.648,"endTime":2136.268,"body":"So this is a three-year investment."},{"speaker":"David Torrence","startTime":2137.348,"endTime":2140.198,"body":"That one, you can go really"},{"speaker":"David Torrence","startTime":2137.348,"endTime":2140.198,"body":"long after three years."},{"speaker":"David Torrence","startTime":2140.198,"endTime":2143.331,"body":"So we're talking about some fantastic,"},{"speaker":"David Torrence","startTime":2140.198,"endTime":2143.331,"body":"we're talking about, enough money to"},{"speaker":"David Torrence","startTime":2143.331,"endTime":2146.721,"body":"buy a car, enough money to put down in"},{"speaker":"David Torrence","startTime":2143.331,"endTime":2146.721,"body":"the house type money for these kids."},{"speaker":"David Torrence","startTime":2146.721,"endTime":2148.941,"body":"So it's going to be"},{"speaker":"David Torrence","startTime":2146.721,"endTime":2148.941,"body":"really something special."},{"speaker":"David Torrence","startTime":2148.941,"endTime":2151.742,"body":"It's going to be really small cause"},{"speaker":"David Torrence","startTime":2148.941,"endTime":2151.742,"body":"that's the only way we'd be able to"},{"speaker":"David Torrence","startTime":2151.742,"endTime":2155.236,"body":"have it run efficiently and them really"},{"speaker":"David Torrence","startTime":2151.742,"endTime":2155.236,"body":"learn, but I'm really excited by it."},{"speaker":"David Torrence","startTime":2155.236,"endTime":2159.322,"body":"And I feel like that's going to be"},{"speaker":"David Torrence","startTime":2155.236,"endTime":2159.322,"body":"my moment where I feel like, I'm"},{"speaker":"David Torrence","startTime":2159.322,"endTime":2162.802,"body":"really making change and impact"},{"speaker":"David Torrence","startTime":2159.322,"endTime":2162.802,"body":"when I'm able to give this equity"},{"speaker":"David Torrence","startTime":2162.922,"endTime":2164.662,"body":"and human capital to the community."},{"speaker":"David Torrence","startTime":2164.752,"endTime":2165.832,"body":"Not just a good word."},{"speaker":"Average Joe Finances","startTime":2166.432,"endTime":2166.672,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2166.702,"endTime":2167.66,"body":"David, I love that."},{"speaker":"Average Joe Finances","startTime":2167.66,"endTime":2169.313,"body":"That's going to be your"},{"speaker":"Average Joe Finances","startTime":2167.66,"endTime":2169.313,"body":"legacy right there."},{"speaker":"Average Joe Finances","startTime":2169.344,"endTime":2169.974,"body":"That's amazing."},{"speaker":"Average Joe Finances","startTime":2170.634,"endTime":2171.835,"body":"I'm hoping, I'm hoping that."},{"speaker":"Average Joe Finances","startTime":2172.615,"endTime":2176.275,"body":"With what they learn in the class"},{"speaker":"Average Joe Finances","startTime":2172.615,"endTime":2176.275,"body":"that they're going to take with you,"},{"speaker":"Average Joe Finances","startTime":2176.275,"endTime":2180.115,"body":"that when they do graduate from high"},{"speaker":"Average Joe Finances","startTime":2176.275,"endTime":2180.115,"body":"school, that they don't just go buy a"},{"speaker":"Average Joe Finances","startTime":2180.115,"endTime":2183.355,"body":"new car or something like that, that"},{"speaker":"Average Joe Finances","startTime":2180.115,"endTime":2183.355,"body":"they actually can't exactly invest"},{"speaker":"David Torrence","startTime":2183.595,"endTime":2184.075,"body":"in best."},{"speaker":"Average Joe Finances","startTime":2185.355,"endTime":2185.562,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2185.562,"endTime":2188.246,"body":"That's, if you're talking about"},{"speaker":"Average Joe Finances","startTime":2185.562,"endTime":2188.246,"body":"making an impact in the world,"},{"speaker":"Average Joe Finances","startTime":2188.246,"endTime":2189.716,"body":"that's making impact right there."},{"speaker":"Average Joe Finances","startTime":2190.166,"endTime":2194.059,"body":"And what ages at that they start to,"},{"speaker":"Average Joe Finances","startTime":2190.166,"endTime":2194.059,"body":"they start this at night in ninth grade."},{"speaker":"Average Joe Finances","startTime":2194.059,"endTime":2194.239,"body":"Is this"},{"speaker":"David Torrence","startTime":2196.069,"endTime":2198.049,"body":"so two of the"},{"speaker":"David Torrence","startTime":2196.069,"endTime":2198.049,"body":"programs that we'll be starting"},{"speaker":"David Torrence","startTime":2198.049,"endTime":2199.229,"body":"high school in 10th grade."},{"speaker":"David Torrence","startTime":2199.229,"endTime":2203.236,"body":"And then after the six month"},{"speaker":"David Torrence","startTime":2199.229,"endTime":2203.236,"body":"investing program, From there, they"},{"speaker":"David Torrence","startTime":2203.236,"endTime":2206.806,"body":"were going to two year internships"},{"speaker":"David Torrence","startTime":2203.236,"endTime":2206.806,"body":"for the junior and senior years."},{"speaker":"David Torrence","startTime":2207.286,"endTime":2210.106,"body":"Those internships will be geared"},{"speaker":"David Torrence","startTime":2207.286,"endTime":2210.106,"body":"towards careers where you don't"},{"speaker":"David Torrence","startTime":2210.106,"endTime":2214.066,"body":"need a college degree, such as"},{"speaker":"David Torrence","startTime":2210.106,"endTime":2214.066,"body":"being a realtor, being a CPA."},{"speaker":"David Torrence","startTime":2214.216,"endTime":2215.506,"body":"These are great industries."},{"speaker":"David Torrence","startTime":2215.506,"endTime":2216.376,"body":"They can go into that."},{"speaker":"David Torrence","startTime":2216.376,"endTime":2219.046,"body":"They don't have to go to college"},{"speaker":"David Torrence","startTime":2216.376,"endTime":2219.046,"body":"for and make really good money"},{"speaker":"David Torrence","startTime":2219.046,"endTime":2220.766,"body":"to live a really good lifestyle."},{"speaker":"David Torrence","startTime":2220.78,"endTime":2223.45,"body":"And guess what, they also have that"},{"speaker":"David Torrence","startTime":2220.78,"endTime":2223.45,"body":"scholarship money at the end that they"},{"speaker":"David Torrence","startTime":2223.45,"endTime":2225.245,"body":"can use, to start that business up."},{"speaker":"David Torrence","startTime":2225.605,"endTime":2227.185,"body":"And they'll already have"},{"speaker":"David Torrence","startTime":2225.605,"endTime":2227.185,"body":"all the experiences that."},{"speaker":"David Torrence","startTime":2227.885,"endTime":2231.275,"body":"So they're have, they're becoming out"},{"speaker":"David Torrence","startTime":2227.885,"endTime":2231.275,"body":"of high school, productive citizens"},{"speaker":"David Torrence","startTime":2231.305,"endTime":2234.975,"body":"in society who are ready to invest in"},{"speaker":"David Torrence","startTime":2231.305,"endTime":2234.975,"body":"themselves and invest in their business."},{"speaker":"David Torrence","startTime":2234.989,"endTime":2239.109,"body":"And then the other program is for"},{"speaker":"David Torrence","startTime":2234.989,"endTime":2239.109,"body":"children who have aged out of foster care."},{"speaker":"David Torrence","startTime":2239.109,"endTime":2240.849,"body":"So we're talking 18 to 21."},{"speaker":"David Torrence","startTime":2241.449,"endTime":2244.329,"body":"That program is a year long and that's"},{"speaker":"David Torrence","startTime":2241.449,"endTime":2244.329,"body":"the program where they would be gifted"},{"speaker":"David Torrence","startTime":2244.329,"endTime":2246.639,"body":"crypto, as opposed to the scholarship."},{"speaker":"David Torrence","startTime":2246.701,"endTime":2248.842,"body":"And then that program said,"},{"speaker":"David Torrence","startTime":2246.701,"endTime":2248.842,"body":"because there's a lot of people,"},{"speaker":"David Torrence","startTime":2248.852,"endTime":2251.152,"body":"I know that there's a lot of"},{"speaker":"David Torrence","startTime":2248.852,"endTime":2251.152,"body":"kids that age out of foster care"},{"speaker":"David Torrence","startTime":2251.302,"endTime":2252.532,"body":"and ended up becoming homeless."},{"speaker":"David Torrence","startTime":2252.772,"endTime":2256.792,"body":"So you have these programs such as"},{"speaker":"David Torrence","startTime":2252.772,"endTime":2256.792,"body":"dash to freedom here in Miami, where"},{"speaker":"David Torrence","startTime":2256.792,"endTime":2260.134,"body":"they have they provide housing for"},{"speaker":"David Torrence","startTime":2256.792,"endTime":2260.134,"body":"these students, so they can transition"},{"speaker":"David Torrence","startTime":2260.134,"endTime":2262.294,"body":"to productive adults in society."},{"speaker":"David Torrence","startTime":2262.624,"endTime":2266.404,"body":"And then they brought me in, through"},{"speaker":"David Torrence","startTime":2262.624,"endTime":2266.404,"body":"my nonprofit to provide the expertise"},{"speaker":"David Torrence","startTime":2266.404,"endTime":2267.884,"body":"of investing, to teach them that."},{"speaker":"Average Joe Finances","startTime":2267.888,"endTime":2270.558,"body":"I love it,"},{"speaker":"Average Joe Finances","startTime":2267.888,"endTime":2270.558,"body":"man, that, so what you're doing"},{"speaker":"Average Joe Finances","startTime":2270.558,"endTime":2272.477,"body":"right now you do it with a passion."},{"speaker":"Average Joe Finances","startTime":2272.537,"endTime":2275.837,"body":"And I feel like if you're going"},{"speaker":"Average Joe Finances","startTime":2272.537,"endTime":2275.837,"body":"to do anything seriously in life,"},{"speaker":"Average Joe Finances","startTime":2275.837,"endTime":2277.277,"body":"you have to do it with a passion."},{"speaker":"Average Joe Finances","startTime":2277.307,"endTime":2281.957,"body":"And you're definitely passionate about"},{"speaker":"Average Joe Finances","startTime":2277.307,"endTime":2281.957,"body":"it, man, David, this is absolutely amazing"},{"speaker":"Average Joe Finances","startTime":2282.024,"endTime":2286.079,"body":"this whole conversation and everything"},{"speaker":"Average Joe Finances","startTime":2282.024,"endTime":2286.079,"body":"that you're doing I'm absolutely thrilled,"},{"speaker":"Average Joe Finances","startTime":2286.134,"endTime":2287.623,"body":"to be talking about this stuff with you."},{"speaker":"Average Joe Finances","startTime":2287.623,"endTime":2293.014,"body":"So I want to ask you, cause as time's"},{"speaker":"Average Joe Finances","startTime":2287.623,"endTime":2293.014,"body":"getting short here, or for somebody who's"},{"speaker":"Average Joe Finances","startTime":2293.554,"endTime":2297.538,"body":"just now getting ready to get started"},{"speaker":"Average Joe Finances","startTime":2293.554,"endTime":2297.538,"body":"and some well, we're talking about"},{"speaker":"Average Joe Finances","startTime":2297.538,"endTime":2299.098,"body":"like our younger audience here, right?"},{"speaker":"Average Joe Finances","startTime":2299.098,"endTime":2301.719,"body":"The, the young men and women that"},{"speaker":"Average Joe Finances","startTime":2299.098,"endTime":2301.719,"body":"are in their twenties and thirties"},{"speaker":"Average Joe Finances","startTime":2301.719,"endTime":2305.538,"body":"that, Hey, I just paid off my student"},{"speaker":"Average Joe Finances","startTime":2301.719,"endTime":2305.538,"body":"loans or I just got out of debt and"},{"speaker":"Average Joe Finances","startTime":2305.538,"endTime":2307.068,"body":"now I'm ready to start investing."},{"speaker":"Average Joe Finances","startTime":2307.135,"endTime":2309.685,"body":"What would you say to"},{"speaker":"Average Joe Finances","startTime":2307.135,"endTime":2309.685,"body":"somebody in that situation?"},{"speaker":"Average Joe Finances","startTime":2309.685,"endTime":2312.07,"body":"For what they should look at doing today?"},{"speaker":"David Torrence","startTime":2313.36,"endTime":2314.29,"body":"Very simple."},{"speaker":"David Torrence","startTime":2315.76,"endTime":2317.45,"body":"Find a certain amount of money."},{"speaker":"David Torrence","startTime":2317.461,"endTime":2323.341,"body":"I will say this look lower, your"},{"speaker":"David Torrence","startTime":2317.461,"endTime":2323.341,"body":"consumption, lower your consumption."},{"speaker":"David Torrence","startTime":2323.491,"endTime":2324.741,"body":"B B."},{"speaker":"David Torrence","startTime":2324.751,"endTime":2325.351,"body":"Okay."},{"speaker":"David Torrence","startTime":2325.651,"endTime":2326.551,"body":"I'll tell you right now."},{"speaker":"David Torrence","startTime":2326.639,"endTime":2330.409,"body":"I, my car is paid off and I"},{"speaker":"David Torrence","startTime":2326.639,"endTime":2330.409,"body":"every will always, I've all, I've"},{"speaker":"David Torrence","startTime":2330.409,"endTime":2331.789,"body":"never made payments on the car."},{"speaker":"David Torrence","startTime":2332.149,"endTime":2336.199,"body":"That's because I've never felt the need"},{"speaker":"David Torrence","startTime":2332.149,"endTime":2336.199,"body":"to show off that I have money via my car."},{"speaker":"David Torrence","startTime":2336.799,"endTime":2338.659,"body":"Lower your consumption, lower."},{"speaker":"David Torrence","startTime":2339.574,"endTime":2342.445,"body":"Thank you need to show people"},{"speaker":"David Torrence","startTime":2339.574,"endTime":2342.445,"body":"in terms of what you have but"},{"speaker":"David Torrence","startTime":2342.445,"endTime":2347.395,"body":"understand and live below your"},{"speaker":"David Torrence","startTime":2342.445,"endTime":2347.395,"body":"means for a few years and invest."},{"speaker":"David Torrence","startTime":2347.605,"endTime":2349.506,"body":"When are, where do you"},{"speaker":"David Torrence","startTime":2347.605,"endTime":2349.506,"body":"invest in what you consume?"},{"speaker":"David Torrence","startTime":2349.506,"endTime":2352.896,"body":"So if you have apple invest in apple,"},{"speaker":"David Torrence","startTime":2349.506,"endTime":2352.896,"body":"if you believe in crypto, invest in"},{"speaker":"David Torrence","startTime":2352.896,"endTime":2354.316,"body":"Bitcoin, that they remain Cardon."},{"speaker":"David Torrence","startTime":2354.347,"endTime":2355.757,"body":"Those are the best ones to invest in."},{"speaker":"David Torrence","startTime":2355.967,"endTime":2356.237,"body":"Why?"},{"speaker":"David Torrence","startTime":2356.237,"endTime":2359.957,"body":"Because they're the most disruptive"},{"speaker":"David Torrence","startTime":2356.237,"endTime":2359.957,"body":"and they have, they actually bring"},{"speaker":"David Torrence","startTime":2359.967,"endTime":2362.907,"body":"something to the world in terms"},{"speaker":"David Torrence","startTime":2359.967,"endTime":2362.907,"body":"of what we do and application."},{"speaker":"David Torrence","startTime":2362.946,"endTime":2364.326,"body":"That's why we do it and invest in it in."},{"speaker":"David Torrence","startTime":2365.166,"endTime":2369.084,"body":"NASDAQ doubt or SAP invest in"},{"speaker":"David Torrence","startTime":2365.166,"endTime":2369.084,"body":"index, invest in a stock, invest"},{"speaker":"David Torrence","startTime":2369.084,"endTime":2371.094,"body":"in a crypto and buy every month."},{"speaker":"David Torrence","startTime":2372.204,"endTime":2373.494,"body":"You love yourself for it in 10 years."},{"speaker":"Average Joe Finances","startTime":2374.164,"endTime":2374.494,"body":"Definitely."},{"speaker":"Average Joe Finances","startTime":2374.494,"endTime":2377.914,"body":"Sounds like key thing you're"},{"speaker":"Average Joe Finances","startTime":2374.494,"endTime":2377.914,"body":"talking about here is diversify."},{"speaker":"Average Joe Finances","startTime":2377.946,"endTime":2379.871,"body":"Don't just put it right."},{"speaker":"Average Joe Finances","startTime":2380.741,"endTime":2381.401,"body":"Awesome, man."},{"speaker":"Average Joe Finances","startTime":2381.47,"endTime":2383.48,"body":"So everybody look king David here."},{"speaker":"Average Joe Finances","startTime":2383.547,"endTime":2385.111,"body":"We had an awesome conversation."},{"speaker":"Average Joe Finances","startTime":2385.127,"endTime":2386.417,"body":"This has been amazing."},{"speaker":"Average Joe Finances","startTime":2387.532,"endTime":2389.212,"body":"There's going to be people"},{"speaker":"Average Joe Finances","startTime":2387.532,"endTime":2389.212,"body":"listening to this show that"},{"speaker":"Average Joe Finances","startTime":2389.212,"endTime":2390.592,"body":"want to know more about you."},{"speaker":"Average Joe Finances","startTime":2390.592,"endTime":2392.692,"body":"They want to know about"},{"speaker":"Average Joe Finances","startTime":2390.592,"endTime":2392.692,"body":"more about your consulting."},{"speaker":"Average Joe Finances","startTime":2392.992,"endTime":2394.972,"body":"They want to know more"},{"speaker":"Average Joe Finances","startTime":2392.992,"endTime":2394.972,"body":"about your nonprofit."},{"speaker":"Average Joe Finances","startTime":2395.302,"endTime":2398.782,"body":"So where can people go to find"},{"speaker":"Average Joe Finances","startTime":2395.302,"endTime":2398.782,"body":"more information about king Dave"},{"speaker":"Average Joe Finances","startTime":2398.812,"endTime":2399.922,"body":"and everything that he's doing?"},{"speaker":"Average Joe Finances","startTime":2399.922,"endTime":2402.412,"body":"So do you have a website,"},{"speaker":"Average Joe Finances","startTime":2399.922,"endTime":2402.412,"body":"social media or anything like"},{"speaker":"Average Joe Finances","startTime":2402.412,"endTime":2403.102,"body":"that you can share with them?"},{"speaker":"David Torrence","startTime":2403.702,"endTime":2403.882,"body":"Yeah."},{"speaker":"David Torrence","startTime":2403.882,"endTime":2407.212,"body":"So you're like to personally find out"},{"speaker":"David Torrence","startTime":2403.882,"endTime":2407.212,"body":"by me, please look me up on LinkedIn."},{"speaker":"David Torrence","startTime":2407.242,"endTime":2412.582,"body":"Under David M Torrance, in terms of my"},{"speaker":"David Torrence","startTime":2407.242,"endTime":2412.582,"body":"nonprofit, you can go to KP system.org"},{"speaker":"David Torrence","startTime":2412.822,"endTime":2415.942,"body":"or our social media or Instagram, kp.ca."},{"speaker":"David Torrence","startTime":2415.965,"endTime":2418.841,"body":"And if you want to listen, look me up"},{"speaker":"David Torrence","startTime":2415.965,"endTime":2418.841,"body":"on Instagram as well, personally, from"},{"speaker":"David Torrence","startTime":2418.841,"endTime":2424.181,"body":"CG as well as David M Torrance, anything"},{"speaker":"David Torrence","startTime":2418.841,"endTime":2424.181,"body":"Dave, all my social media is under"},{"speaker":"David Torrence","startTime":2424.181,"endTime":2426.311,"body":"David M Torrance, my personal name."},{"speaker":"David Torrence","startTime":2426.551,"endTime":2428.591,"body":"So easy for me, for people to find out."},{"speaker":"David Torrence","startTime":2428.679,"endTime":2431.739,"body":"But LinkedIn, you can find"},{"speaker":"David Torrence","startTime":2428.679,"endTime":2431.739,"body":"my credibility and all that."},{"speaker":"David Torrence","startTime":2431.799,"endTime":2433.719,"body":"That's a big, that's"},{"speaker":"David Torrence","startTime":2431.799,"endTime":2433.719,"body":"big thing in investing."},{"speaker":"David Torrence","startTime":2433.719,"endTime":2435.609,"body":"People want to see that"},{"speaker":"David Torrence","startTime":2433.719,"endTime":2435.609,"body":"you're credible and reputable."},{"speaker":"David Torrence","startTime":2435.849,"endTime":2438.849,"body":"So I like to give him my LinkedIn just"},{"speaker":"David Torrence","startTime":2435.849,"endTime":2438.849,"body":"so that people can find that information."},{"speaker":"Average Joe Finances","startTime":2440.744,"endTime":2441.254,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":2441.254,"endTime":2442.124,"body":"I love LinkedIn."},{"speaker":"Average Joe Finances","startTime":2442.182,"endTime":2443.232,"body":"It's a powerhouse."},{"speaker":"Average Joe Finances","startTime":2443.442,"endTime":2446.559,"body":"I feel like some people it's"},{"speaker":"Average Joe Finances","startTime":2443.442,"endTime":2446.559,"body":"under utilized, I would think"},{"speaker":"Average Joe Finances","startTime":2446.949,"endTime":2448.569,"body":"in the professional space."},{"speaker":"Average Joe Finances","startTime":2448.603,"endTime":2449.503,"body":"Absolutely love it."},{"speaker":"Average Joe Finances","startTime":2449.598,"endTime":2451.719,"body":"David absolutely loved"},{"speaker":"Average Joe Finances","startTime":2449.598,"endTime":2451.719,"body":"everything that you're doing."},{"speaker":"Average Joe Finances","startTime":2451.758,"endTime":2454.998,"body":"Rebuild that you took some time out"},{"speaker":"Average Joe Finances","startTime":2451.758,"endTime":2454.998,"body":"of your day on a Saturday to have a"},{"speaker":"Average Joe Finances","startTime":2454.998,"endTime":2458.388,"body":"conversation with me and share your"},{"speaker":"Average Joe Finances","startTime":2454.998,"endTime":2458.388,"body":"story and share what you're doing."},{"speaker":"Average Joe Finances","startTime":2458.445,"endTime":2460.545,"body":"It's been an absolute blast."},{"speaker":"Average Joe Finances","startTime":2460.6,"endTime":2463.903,"body":"So everybody that's listening,"},{"speaker":"Average Joe Finances","startTime":2460.6,"endTime":2463.903,"body":"go check out the websites that he"},{"speaker":"Average Joe Finances","startTime":2463.903,"endTime":2465.193,"body":"talks about in his social media."},{"speaker":"Average Joe Finances","startTime":2465.403,"endTime":2468.763,"body":"I'll make sure I have links to all"},{"speaker":"Average Joe Finances","startTime":2465.403,"endTime":2468.763,"body":"that in our show notes, to make it"},{"speaker":"Average Joe Finances","startTime":2468.763,"endTime":2470.407,"body":"easy for you to just copy and paste it."},{"speaker":"Average Joe Finances","startTime":2470.407,"endTime":2473.314,"body":"Yeah, definitely check out the stock"},{"speaker":"Average Joe Finances","startTime":2470.407,"endTime":2473.314,"body":"market activity book that he made here."},{"speaker":"Average Joe Finances","startTime":2473.314,"endTime":2477.409,"body":"And actually, if you could send me a link"},{"speaker":"Average Joe Finances","startTime":2473.314,"endTime":2477.409,"body":"to that where we can buy that at two I'll"},{"speaker":"Average Joe Finances","startTime":2477.409,"endTime":2478.699,"body":"make sure I get that in the show notes."},{"speaker":"Average Joe Finances","startTime":2478.766,"endTime":2481.725,"body":"Cause I'm probably going to get a"},{"speaker":"Average Joe Finances","startTime":2478.766,"endTime":2481.725,"body":"copy of that for my daughters as well."},{"speaker":"Average Joe Finances","startTime":2481.755,"endTime":2482.115,"body":"So"},{"speaker":"David Torrence","startTime":2482.505,"endTime":2482.705,"body":"yeah."},{"speaker":"David Torrence","startTime":2482.705,"endTime":2483.555,"body":"Yeah, that'd be cool."},{"speaker":"David Torrence","startTime":2483.65,"endTime":2486.65,"body":"You can buy the, Amazon's just"},{"speaker":"David Torrence","startTime":2483.65,"endTime":2486.65,"body":"look up stock market activity,"},{"speaker":"David Torrence","startTime":2486.65,"endTime":2487.922,"body":"book, wall, street twins."},{"speaker":"David Torrence","startTime":2487.931,"endTime":2489.161,"body":"It's available on Amazon."},{"speaker":"Average Joe Finances","startTime":2490.096,"endTime":2490.366,"body":"Yep."},{"speaker":"Average Joe Finances","startTime":2490.576,"endTime":2490.816,"body":"All right."},{"speaker":"Average Joe Finances","startTime":2490.816,"endTime":2491.506,"body":"Fantastic."},{"speaker":"Average Joe Finances","startTime":2491.536,"endTime":2491.756,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2491.781,"endTime":2492.965,"body":"I'm gonna I'm serious."},{"speaker":"Average Joe Finances","startTime":2492.965,"endTime":2494.687,"body":"I'm going to go check"},{"speaker":"Average Joe Finances","startTime":2492.965,"endTime":2494.687,"body":"that out and pick it up."},{"speaker":"Average Joe Finances","startTime":2494.73,"endTime":2498.127,"body":"Everybody, so there you have it"},{"speaker":"Average Joe Finances","startTime":2494.73,"endTime":2498.127,"body":"interview with David Torrens here."},{"speaker":"Average Joe Finances","startTime":2498.157,"endTime":2499.027,"body":"Absolutely amazing."},{"speaker":"Average Joe Finances","startTime":2499.447,"endTime":2501.247,"body":"David, thank you so much."},{"speaker":"Average Joe Finances","startTime":2501.487,"endTime":2502.752,"body":"And we'll chat again in the future."},{"speaker":"Average Joe Finances","startTime":2502.752,"endTime":2503.142,"body":"I'm sure."},{"speaker":"Average Joe Finances","startTime":2503.652,"endTime":2503.982,"body":"All right."},{"speaker":"Average Joe Finances","startTime":2503.982,"endTime":2504.492,"body":"Peace of love."},{"speaker":"Average Joe Finances","startTime":2504.522,"endTime":2504.972,"body":"Thank you."}]}