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How Smart Do You Have To Be

Speaker 1:

Welcome to the red fish, healthy, wealthy, and wise podcast. Our focus is to deliver information that helps you become healthy, wealthy, and wise. This podcast is sponsored by red fish, capital management, the views and opinions expressed here and do not necessarily represent the views and opinions of SCF securities, Inc, or any SCF related entity. This material is for general information only and is not intended [00:00:30] to provide specific advice or recommendations for any individual securities offer through SCF securities, Inc. Member FINRA, S I P C investment advisory services offered through SCF investment advisories Inc office at 1 55 east Shaw in Fresno, California, SCF securities, Inc, and red fish, capital management are independently owned and operated. SCF is not associated with other podcasts. And the messages contained within Brad [00:01:00] Merle and Redfish capital does not offer legal or tax advice. This material is not intended to replace the advice of a qualified tax advisor or attorney please consult legal or tax professionals for specific information regarding your individual situation. Now for your host, Brad Merle,


Speaker 2:

Hey


Speaker 3:

Everybody, welcome back, uh, to the red fish, healthy, wealthy and wise, [00:01:30] and, uh, just it it's Friday afternoon and I've been working, you know, all week long and, uh, the markets have just been awful. It's not been a lot of fun. And so taking phone calls from people and talking to 'em and stuff about what's going on in the market. And I, I, somebody in the phone call had asked me, they're like, how smart, you know, do you have to be to make money and all this? And, and I kind of started thinking about it reminded me of a story. A lot of y'all have heard this story is, um, years [00:02:00] ago, when I was first getting started in the business, I was doing a lot of work for some large oil companies, uh, helping out their employees, uh, when they were getting ready to retire.


Speaker 3:

And I got a phone call from one of these companies and they had asked me to, uh, come down and meet with one of the guys that they had. Who'd been working for the company. I don't know, 45 years. I think it was, uh, or, [00:02:30] or a little bit longer even, uh, he'd been working at one of the plants, uh, down there in south Houston. And I said, yeah, no problem. I'm happy to go out there. I was excited to go out there. Um, I'm thinking I'm gonna pick up another client. And so anyway, so I, I make the drive all the way out there. It's way out in the middle of nowhere. So this guy doesn't live in the city, uh, going, when you know that you're going down into some, uh, small town areas, when you exit major highways [00:03:00] and the instructions are take a right at the first barn, take a left, it's all dirt roads.


Speaker 3:

So I'm weaving around with these different, um, dirt roads. And finally, I come to the end of this road. It's now dark outside. Um, it's in the evening and, and I pull in, there's a, a double wide trailer there's stuff all over the yard. I mean, all over the yard, I was immediately surrounded by 18 and a half dogs, uh, all running around barking at me. So I, [00:03:30] I get out of the car and, and I walk up to the door and I knock on the door. I'm sorry. Before I knock on the door, I noticed there's a sign on the door. And it says all sales people will be shot. So before knocking, I was like, okay, Lord, I don't wanna die today. Say a little prayer, knock on the door. And this guy comes to the door and I am not exaggerating. I am not kidding.


Speaker 3:

He was a couple biscuits shy of 400 pounds. This was a huge human [00:04:00] being huge. Uh, he was also about six, six, I'm guessing six, seven, really tall, really wide. Here's what he's wearing. He's wearing a black felt cowboy hat. He is wearing, uh, aviator, dark shades. Um, he's wearing a black t-shirt, he's wearing boxer shorts and he's wearing boots, no exaggeration. He's got a [00:04:30] beer in one hand and a packet of information. In the other hand, I said, uh, hi, how you doing? I, you know, I'm Brad. I reached out to introduce myself. He doesn't say a word, not a word. He puts the papers in my hand and turns around and walks inside. I was like, okay, this, this is odd. And I knew was gonna be a little bit odd because when I was talking with the human resource, uh, a person, they had told me that the individual I was going to see could not, uh, neither read [00:05:00] or write.


Speaker 3:

Um, and so he, he needed help. Um, so I kind of went into it, knowing this was gonna be a tad bit different, but it was nothing like I had expected cuz they didn't tell me he would also be drunk <laugh> so, um, we walk into his trailer. It is thrashed. It's thrashed. Um, he's got a, a, a little prop up kind of a car table. Like you call it around car table for his [00:05:30] table, uh, in his house with a, uh, Miller light, beer chandelier hanging above it. We sit down, he's still wearing the shades, dark outside, uh, hat on drinking his beer. And so I introduced myself again and he just kind of noded his head. I was like, okay, Nope, let's do this. I'm going through the, uh, envelope. And I start pulling papers out. And one of the things that I pulled out was a check that was made out to him.


Speaker 3:

[00:06:00] And the check was for the amount of about 1.3, 5 million. And um, I looked at the check and I looked at him and I looked back down at the check and I, and I looked at him and I was like, um, I said his name. And I said, um, you know, you're a millionaire, right? And this is where it got really kind of bizarre. He said nothing but a tear started coming down behind [00:06:30] his glasses. I went, okay, he's obviously upset about something. What he was was nervous. He was incredibly nervous. And he said, Brad, I've never had any money in my life. I looked around and that was apparent. He said, I went, I went to work and I started working at this company when I was 18 years old. I did not finish high school. I had jobs off and on, maybe it was 20.


Speaker 3:

He had jobs off and on and he got hired [00:07:00] onto this plant. And he started working there, uh, you know, way back when he worked there, his whole career. And he said, I didn't know what I was doing. I don't know how to read. I can re he actually, he said, I, you know, I can read just kind of a little bit now, but back then he couldn't read at all. He said, so I just kind of put my little marks and where they told me on the contract. And so what he had marked was to defer 15%. [00:07:30] I think it was 15% of his paycheck into the company, 401k. And then they had a match and I believe it was dollar to dollar up to 10%. Something along that back then matches were a lot higher than they were than they are today. But needless to say, uh, point being is when he retired, he had 1.3, 5 million.


Speaker 3:

So taking it back to the person who was asking me earlier, you know, how smart do you have to be? How smart was [00:08:00] he that I think he wasn't smart at all. Cause sometimes, sometimes it's got nothing to do with smart. It has to do with discipline and having a plan. Now, in his case, he didn't know he had a plan. He had no idea. He just, but he did have the discipline from the standpoint that he checked it and didn't even know where the money was going. So let's face it. There's an extraordinary amount of luck. So are you as lucky as he is? Hopefully. So, um, it it'll work out, but I think one of [00:08:30] the things that, that he did write is just by slowly and steadily putting money into it and allowing the markets to do what they do over time. This was a long time period and it worked out well for 'em. I know there's a lot going on in the market. I know there's a lot of people out there that are nervous, but if you are young, you can absolutely survive this. In fact, you should be cheering a little bit that you're getting to, to buy into your index funds, your mutual funds or your stock, whatever. It may be [00:09:00] a little bit cheaper, stay disciplined, stay with the approach. History tells us it'll work out well for you. So good to see y'all.


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