Jesse Itzler Shares His Formula to Retire Wealthy 💰 E40
41:00 Share

- I think it's really important that people have, understand what their relationship with money is. You will make more from 42 to 50 than you will have made in your 20s and 30s. I guarantee it. - I made more from 40 to 42 than I did in my entire life. - See? - Because of what you just said. - Exactly. Gandhi said it best.

Ladies and gentlemen, welcome to a very special edition of the Money Mondays. I have my co-host here, the real Tarzan.

This guy gets over 200 million views a month across social media, except he got 215 million views in the last 10 days alone. I know because he sent me a bunch of screenshots to prove it. So on the Money Mondays, you know what we do here. We talk about three core topics, how to make money, how to invest money, and how to give it away to charity. We have a special guest here that knows all of those things, and he's an embodiment of building and selling companies. I think he's sold five or six companies. Most people hope to sell one in their career. He's sold six, and he's probably going to sell more over the course of his career.

But he also has created marathons, teaches people how to be better humans, better family people, and everything between, how to get their schedules. He has a humongous calendar, so you might not know who it is yet. But if I tell you Marquee Jet, Vitacoco, all these different brands that he's built, you're going to know it's Jesse Itzler. What's up? Hey, man. The man. Do people know where we broadcast from? Do they know we're in an RV? Yeah. This is incredible, man.

Do they know what's in this RV? There's a snake in here? There's all kinds of shit in here, man. So here's the reason for the RV motorhome. Ready? I feel like I didn't get the right shot to come in here.

We do that here too, by the way. Okay. So the RV motorhome is because we can drive around the country and it removes the hard timing for celebrities, athletes, busy business people. Right. Imagine I try to schedule, hey, Jesse, let me text you. Hey, you're in Atlanta. I'm here. It would take us months to organize it here. I can pull up on the side of the Aspire tour. Hey, I'm right outside the glass. Can you pop in? Hey, Gary Vee, can you pop in? Hey, Damon John, can you pop in? Hey, Kevin Hart, can you pop in?

"Oh, you're in Atlanta? Me too." Basically what you talk about in your speech, like, "You're in Atlanta? I'm in Atlanta too." And I'll drive there for 15 hours if I have to and show up to be there. And so that's the cons of the motorhome is to remove the restrictions. - Dan, were you an entrepreneur before you were born? No, like, did your parents, like, "We're gonna concede," like, they probably had, like, the blueprint before they even had you.

Like you're always, this is what I like about you, man. You're always solving problems that aren't like, and you're not scared to take a risk. You're not scared to be different and break rules. And, um, you're not scared what people think. And you just do things on your own terms. And that, that like you're, it's, it's,

Kind of like the definition of an entrepreneur. So anyway, thanks for having me guys So typically what we do is we have a quick two-minute bio we get straight to the money You're gonna have to go more in two minutes. You got so many things you've done in your career So let's do a four-minute bio the first time in history the money Monday is a four-minute bio Jesse It's there and then we'll get straight to the money. Yeah, I mean I've had an unconventional journey as an entrepreneur I started out in music right out of college. I was signed to a record label and

I had a private jet company called Marquee Jet, which we sold to Berkshire Hathaway, Warren Buffett's NetJets division. A coconut water company called Zico, not Vitacoco, but Zico. Zico, sorry about that. Same cat, no, same. And we sold that to Coca-Cola. And then a fitness company, we sold to iFit. You know, I've had several different companies in several different categories. And the common theme is I had no experience in any of it.

Kind of like you, just figuring out how do you make, entrepreneurs do two things. They make something better that already exists or they create something brand new. And I've done both. And I've also had a lot of failures. So that's kind of the business side. On the personal side, you know, I think what I'm most proud of is throughout that journey, you mentioned five exits, I've been able to have on the other side a really rich life of adventures, four kids, great friends, you know,

I don't even want to use the word balance, but really emphasizing building my own life resume while I was building my work resume. So, yeah, and I'm 55 now. I'm married to an entrepreneur. My wife owned a company called Spanx. She just sold the majority of it to Blackstone. And we live in Atlanta. I'm part owner of the Atlanta Hawks. So cool. You did it under four minutes. Yeah. All right, Jesse. So...

We keep these podcasts to under 45 minutes because the average workout is 45 minutes. The average commute to work, 45 minutes. We try to be around 35 to 40 minutes. That's why we have a high listen-through rate. And especially for today, we're going to make a lot of fun clips with this because...

To be blunt, you're my favorite entrepreneur. Thank you, man. We have a lot of mutual friends. Yeah. But just watching how much fun you have with life and how you've built your family around it and how you've got literally like marathons in your backyard. Yeah. Like I'm just obsessed. Like I've just watched you for so many years and just to see how you're living and now especially how much content you're making. You're spending your time and energy to be at events like this. Like you don't have to come here.

The difference of you making a hundred grand here, 200 grand here, it doesn't matter to you as a business person for your career, but you love it. And I love it. I can feel it. Every time you go on stage, I had to freaking go after you today speaking. You got like a rock concert going on with a DJ up there. Like it's an amazing moment. Talk us through.

For the people that are listening, why is it important for them to be making money in their career to be able to do some of the fun things in their personal lives? Yeah, before we do that, I just want to touch on one thing, if you don't mind. You talked about the love of speaking. People think when they think about businesses, Real Tarzan, they hear the term ROI, return on investment, a lot. And they think of that always as financial. But for me...

return on investment comes in a lot of different forms and the return I get from speaking the way it makes me feel is incredible it's a it's incredibly valuable and um I have a little coaching program and and the gal in my family office looked at the numbers and she's like you know why are you doing this why don't you go start another jet company and build another another empire or whatever and I was like and I showed her my dms and I'm like because I

look at what I get every day. And that feeling, that return on investment is more than the money. So I love speaking and thank you for having me, man, because you've given me that opportunity a couple of times. As far as the question about money, I think it's really important that people understand what their relationship with money is.

People don't think of when they think of relationships you think of them in terms of people whether it was just with your kids How's your relationship with the real Tarzan or has relationship with that? But you don't think of your relationship in time time and money and I didn't grow up around money my dad owned the plumbing supply house We didn't talk about money in my house like when I when I became a millionaire at like 26 or 27 my whole life I heard if you're a millionaire

Thought I was Elon Musk man, right when I made a million dollars I thought like I have enough money for seven generations and it's that's that's not the case I had no idea. I didn't know how to save it invest it use it and that's very dangerous So it's really important that you think about like why am I working 40 out 50 70 hours a week? What do I want to do with the money if I wired you 10 million dollars, man? What would you even do with it? What are you playing for? What are you playing for? What do you want to do with your money?

No, seriously, what do you want to do? For me, money makes my life easier.

I use it to treat the people I love to things that I love to do and to make my life easier. Not to buy Picassos on my wall. Certainly not for a watch or clothes. Dan, you could probably say the same. I'm wearing Gary's hoodie. No disrespect. I got no watch on. I'm wearing Gary Vee's hoodie. I've never seen you in Italian suits, though. No. It's not what you're doing it for. I didn't have a car for seven years. Right. I didn't have a car. So that's a very different relationship.

than what you hear people flaunting. - Lambos and bennies. - No disrespect. - Hey listen, it's fun, go for it. - It is what it is. So you have to think about, what am I doing this for? What do I really want to make all this money for?

Real Tarzan, real Tarzan, real talk. If someone wired you $20 million, probably buy animals and do the thing more of what you're already doing. Absolutely. You know what I mean? It wouldn't change you. You wouldn't go buy a mansion and like you would do what you love to do. And that's really important. Watch this question. What if I gave you $21 million today, but you can never interact with an animal ever again in your life? I wouldn't take it.

I could say the number higher. I could say $50 million. I could say $100 million. It's his entire life. Right. And some people listening are like, yeah, right. I got $20 million. I'm out. I'll never talk to an animal again. They're wired differently. What would I do? You know, I don't know anything else. I can't work out every day. I lose my mind. Right. You know? Well, that's great. You found, you know, that's a gift, man. It's a blessing to know what you love to do and you're doing it.

Yeah, you still take the $20 million. Buy the animals. Buy more animals. Don't say no so fast. Give it away to like a, you know, buy some rainforest or something like that, you know? Yeah, I mean, we've spent...

Almost half that to build the wild jungle. So wild jungle is the brand of building around Tarzan That's part of how I convinced him to move from Miami to Temecula. We bought a ranch for six point six million dollars We spent three million dollars decking out for the animals and every day he'll get 90 million views in a video and go clean up poop For two hours and won't blink and won't complain and then at one in the morning He's giving birth to a goat and then he'll go get 17 million views and then wake up and there's an ostrich egg like

That is his world. Right. And it's so rare to find someone that's that passionate of an entrepreneur in a category that they're literally obsessed with. Obsessed. I love meeting people that are experts and great at what they do in categories that I know nothing about. They always say surround yourself with like-minded people. Why? They do the same thing you do. I love people that are not like-minded that I can learn from. Yeah.

i feel like i want to flip this and do a podcast on you guys because i'm not i shouldn't be the guest i should be the host you guys should be the guests so can you tell us about the calendar and why is it important for people to be organized and scheduled in their world and their lives yeah so like i don't know if you know this real tarzan but i have this big ass calendar it's called that's a big ass calendar and it's like 365 days on one page first of all i'm super visual so i want to see my whole year and see where i spend time i like that

But more importantly, I feel like, especially as you get older, you guys are younger than me, but creating newness is really hard. Most people, not you guys, live in routine and at the end of the year, they don't have a lot to show for their year.

The only way to really create newness is to plan it. So I'm going to really proactive in my planning, my trips, one-on-one trips with my kids, races that I do. I put that down first. Work is always there. It fills in anyway. But if you don't put the stuff you want to do and prioritize you, you got nothing to show for it, man. Why are you doing it if you have nothing to show for it?

So I map out, like I've already, here we are, we're in October. I don't know when this will air, but I've already mapped out my whole 2024. And let me tell you something. It's fucking award winning. All I have to do is follow the script. It's award, my 2024 is off the charts. I just have to follow the script. Sure. This year, 2023, I rode my bike across the country. I put it in the calendar, you know, six months before. If I didn't, I would have never done it.

I would have said yes to everything. And then Zoom calls. I can't go. I got a Zoom call. And then, no, now it gives me permission. And it actually makes me better as an entrepreneur because the time that I'm working at work, I'm so much more focused and I don't have any guilt. Being an entrepreneur is hard enough. Being an entrepreneur with guilt is frigging impossible. So I don't have guilt like, should I be at work? Should I be at home? No. I know the days I'm with my kids.

I know that the vacation I'm doing with my wife, but Sarah right now, my wife, I'm working on this book. For three weeks I'm locked in here, but we're going away and it works. All the guilt's off the table. No resentment. You said something on stage today saying don't give up what you have for something that you think that you want. Can you explain what that is?

I think a lot of, I remember when I was in my 20s, a lot of my friends gave up their 20s, the best years, arguably, some of the best years, maybe arguably the decade where you can do the most maybe and take the most risk, working at Wall Street firms and trying to like really climb up the ladder. Ultimately, a lot of the entrepreneurs caught those guys from a, as far as like from a wealth perspective, right?

And like, I never want to give up my twenties, man, or my thirties. And when I look back, like what I'm most proud of, one of the things I'm really proud of in my journey is I never gave up my health. Like we have one job, stay healthy. You could get the $20 million in the farm and own the rainforest in Brazil or whatever. But if you, if you're too sick and you can't enjoy it, what does that do? So while I built five businesses or whatever, I was able to still

run several races and stay healthy. And that's really important. So you don't want to give up what you have, your relationship with your kids, your parents, your friends, chasing all the money. You know, there has to be some kind of balance because you will have insane guilt and regret at the end of the journey. You'll look back and be like, damn, man, I should have gone to that baseball game. I should have gone to that swim meet.

It's fucking kids 18 now. No, they're never having another swim. The swim meet's done, man. That ended at 12. You missed that. So that's what I'm talking about. Is there any emotional or mental difference of your first 1 million versus 10 million? Yes. It's a lot harder to make 10 than 1, first of all. The 1 is so emotionally exciting. And like for me, especially like,

I sold my first company for $4 million in cash and then there was an earn out for $16. I was 27. And I just remember $37,000 and that's what I was making a year until I sold the company. I was literally sleeping on a couch. Literally. And I just remember going to the ATM machine after the wire hit the next morning. They wired in the money.

i didn't have to pay taxes yet and looking and i was like i made 500 while i was sleeping i'm going back to bed i'm gonna go back to bed i could not believe it like i didn't make 500 like like months in interest right i couldn't believe it it was like i was like holy man this is a great so the million like psychologically that was a really big accomplishment um but

One to five, two and three is no, one to five is different than five, and then one to 10 is big difference. And just what you can do, you know, and the pressure it takes off of you. But I never, like I never had a number, I never chased it, I never had goals, even now, I don't have like, oh, I wanna make this, I don't even, I'm very, almost to a flaw, again, my relationship with money. I have friends that are, listen, I'm part owner of an NBA team.

So the circle of owners, there's a lot of wealth. I have friends that are incredibly wealthy, great guys. And when I talk about wealth, I'm not talking about they're rich. I'm talking about they are wealthy, man. And you never know it. But they will go and they will look at a bill at a dinner. Who got the salad? What did you get? I'm like, what? So I never wanted to be that. Yeah. Yeah.

I feel like if I don't, I have people look at that stuff or whatever. But if I get beat by 10 or 15% a year because I didn't look at everything over, I'd rather have that 10, 15% of my time than, okay, they got me. The gardener got me for the mulch that I didn't order. So how do you incorporate and choose? What did I just say? The gardener got me for the mulch I didn't order, man. I like that. Put that on a shirt. That's good. Damn.

Limited edition shirts, man. The Gardner got me for the mulch. Do it. LLC. The Gardner got me for the mulch. LLC. 140,000 sales. Day one. 100%. How about 30%, 30%, 60%? 40%.

Love it. So when you're mapping out this 365 days amazingness of calendar time How do you decide when is it Sarah time? When is it kids time? When is it work time? When am I gonna run a marathon? When am I gonna ride a bicycle across the country like they have a lot of options here? Yeah, and each one is different importance to you on a personal level and a mental level like how do you choose a

Yeah. So every year I try to pick one big thing on my calendar. There's an old Japanese ritual called the Misogi. And the notion is you do one big thing a year that you can, at the end of the year, you're like, listen, in 2015, I wrote a book. 2018, I launched this company, 29029. 2023, I rode my bike across the country. So what is it in 2024 that I think, how old are you Tarzan? 29. So let's say you had one big thing and let's say you live to be 90. You live 60 more years.

If you did one big year defining thing, at the end of your journey, you'll have 60 monster events. Stories. That's like a frigging novel. That's an incredible life. So I do that and I put it down on my calendar. And if I don't know what it is today, I just know that I'm doing something big this year.

I don't know what 2024 that is for me yet. And then I do like six mini adventures a year. Same thing. You live another 60 years. That's 360 mini adventures. And that could just be as simple as like I'm going fishing instead of watching like the Georgia football game this weekend. Just six things you normally kind of wouldn't have done on every other month. So now you've done one big event.

You live to 90. You have 60 incredible year defining things. You have 360 mini adventures. Who wouldn't sign up for that? It's a good life. Buffett doesn't. Who has that?

So I do those two things. They go on my calendar. And then, you know, I try to go away with my wife like once a quarter. It can be a staycation or something. We have date night once a week. And I do one on one trips with my kids. I have four kids last year. I went to Washington, D.C. with my son, New York with my like and and and that's it. And then I fill it in with the races I want to do. And then the rest is work.

So there's something that you post about often, which is cereal for children. And I've always wanted to ask you about it. Like we just grew up. I mean, I see him eat cereal all the time. Why is cereal so bad? And why doesn't the companies actually step in and fix what they could be fixing? Well, it doesn't surprise me that you eat a lot of cereal because the major cereal companies control the supermarkets in this country. They have the center aisle, the most popular aisle, and they have all the shelf space. Kellogg's, Nabisco, McDonald's.

General Mills, they control the decisions of really, oh no, you can't buy whatever you want. They're not on the shelf. They own it. It's easy for us to say, but not for a family that lives in a small town and whatever, and that's their option. So, you know, look, those businesses are in business. They don't care about health per se. They care about profits. They don't have a job if the stock doesn't go up.

So they're creating they've created there They basically created candy for breakfast and they call it cereal and then they they use deceptive marketing like Cheerios will lower your cholesterol although Cheerios that count Cheerios at an ad that'll make you 20% more attentive in school Like I'm fucking kidding me. They got sued for that by the way in laws, but I'm saying they don't give a shit so

I, look, let me back this up. If you're 55 years old and you've been on this planet and there's nothing that pisses you off, I don't care if it's global warming, childhood obesity, whatever, pick your topic, social injustice. If there's not something that pisses you off like animal cruelty, whatever,

You're living a very selfish, self-centered life. And if you find something that pisses you off, and to me it's that. That's one of the things. And now as I get older, a lot more. You got to speak about it, man. You have an obligation.

Or to yourself in my opinion. I'm not telling anyone what to do, but in my opinion to speak up on it I offer the CEO of Kellogg's a million dollars. I think I want to fight two or three million I don't even remember for a 15-minute one-on-one interview on IG Wow and I would donate it to whatever charity he wanted for 15 minutes and I even put the questions down Wow, these are the four questions. I'm gonna ask you you can fucking pre bake your answer right now have your publicist 15 minutes

on IG Live a million dollars to the charity of your choice and they were all like would you feed these ingredients to your kid and say like nothing radio silence same with Flintstones vitamins another fucking scam now you're getting me pissed got me all worked up in here man

About to wrestle that snake you guys have. The cobra that you have in a cage back here. Tarzan. All right. Back to money. Why is it important for people to invest into themselves, their careers, or into stock market, real estate, et cetera? Why should people be investing? When you hear the word investing, why should people be investing?

Well, investing in yourself, obviously, you are the business plan. You're the business plan. So the more you learn, the more you experience. By the way, the more you experience, we talk about the calendars, the more you have to offer, the more interesting you are, the more likely you are to get a job or a promotion if you do really cool shit. It's like people are into that. Investing in yourself, Gandhi said it best. He said, learn like you'll live forever, live like you'll die tomorrow.

So you really want to invest in your learning. I am a student of public speaking. I watch speeches all the time. I enjoy it. I like learning. I like personal development. And just because you invited me here to speak to 2,000 people, what, am I going to stop? No, I got to get better, man. I got to get the lead position and never give it up. So you have to invest in yourself. You have to invest in yourself to get to be the best at what you do with animals and then

You think LeBron and Jordan and Kobe, they quit after they won a ring? They're in the next day. So it's that attitude. And as far as money, I mean, obviously, you want to be responsible with your money. And investing is the best way because what it does when you invest, whether it's real estate, stocks, whatever it is, or I don't know, is you're allowing yourself to be somewhere else.

while your money's making money. And that's a great place to be in. If I'm a public speaker or I sell a widget or anything, or I'm in a service business where I have to be there, I'm a plumber, my dad owned a plumbing supply house. And that's all I do. I have to physically be there to make money. So I'm limited. I'm capped at how I can scale it or grow it. But

If I have a million dollars in real estate and it's doubling or appreciating or in the stock market or whatever, now I can go to my plumbing job, but I also have another revenue stream. So on the charity side, we talked- Sounds so basic, but it's true. Yeah. I mean, you mentioned earlier the actual reason. Typically when I do the intro, I talk about it. The reason we created this podcast is because we grew up thinking it's rude to talk about money. The same way you said you just didn't talk about money in your household. Right.

Families grew up and still to this day think it's rude to talk about money We think the opposite the reason that so many people don't know about salary FICO scores how to pay their taxes how to get an apartment lease loan What happens if your buddy borrows money? It's because we're not allowed to talk about money with our families and friends because it's rude The compound effect the butterfly effect of what happens there if like let's say there's a job I go ask for 36,000 and I could have asked for 42 and I didn't know because I could ask Jesse and

That's $6,000. That puts me back by two or three or four years if I'm getting like a 3% increase a year. Just from a simple question or a text message. Oh, I don't pay taxes for four years because I didn't know I had to pay taxes because when we're 18, we just throw our kids out into the world and they're just supposed to figure it out. They didn't hear about taxes. They can't spell FICO score. They don't understand what a 401k. What the heck? 401k sounds like a marathon to go with. Yeah, it's fast. Right? You got a 401k? Yeah. Damn. What if I race that guy? Damn.

Dan, he ran a 401k in that race. Shit. World record holder. We just throw these 18-year-old kids out there to figure it out, and it's because we don't talk about it. And so I think that's why the podcast is resonating with people. I think that's why people are actually enjoying it. That's why we ask you to share it with your friends, family, and followers, because we need to have these discussions. We need to be able to have a blunt discussion about allowance, satisfaction,

salary, jobs, savings, debt, everything in between because how else are we gonna figure it out? We're not learning in school. - You live in America, right? - Yes. - What language do they speak? - English. - In Mexico, what language do they speak? - Spanish. - In business, what language do they speak? - Money. - Money. I mean like that's the universal language of business. How you gonna do in Mexico if you don't speak Spanish? How you gonna do here if you don't speak English? How you gonna do in business if you don't speak money?

You're going to be made that shit up and that fucking work. Okay. So we talked a bit about making money and talked a bit about investing money. So good. Now let's talk about the third topic about giving it away. So there's a question that I often ask in this scenario. One day when you're a hundred something years old, 150, who knows? Jesse might live to 200 years old. How healthy is going to be?

Will you leave X amount of dollars to your kids? Will you set up a plan? Will you give them nothing? There's so many different versions of the strategy. Do you have a strategy or what are your thoughts about leaving money to kids? Yeah, so that's an individual question that everyone's gonna have to make their own question. And I never had to think about that until I was 40 or now I'm 55. And Sarah, me being part of Sarah, Sarah's my wife,

And I, because it was really, it's her decision. She's got a lot more money than me. But we, you know, we're part of the giving pledge. So we've already pledged the majority of our wealth to charity. So that's already accounted for. As far as it goes for our kids, that's a family decision. And, you know, like my personal opinion on it is, and again, I never thought about this. Sure. Because I didn't, this is all new to me. None of us wrote the money. Sarah just sold her company.

I don't want my kids to... I don't want them to have so much that they lose all... Sense of reality. And all their grit.

And all their, you know. Can you imagine being like 27 and just getting $140 million inheritance and you're like one of four kids? No. Like, what do you do? But you also don't want to put them in a situation where they, you know, they're my kids, man. I want them to be okay. Of course. So it's that balance. You know, speaking of this, and this is the money Mondays, you see all these people on, you see a lot of people on Instagram in their 20s or 30s that have,

claiming they've made so much money. I just heard someone saying that they have a hundred, how many zeros is a hundred million? Nine figures. They have a nine figure business and I'm thinking to myself, the fucking Lakers don't make nine, like, you know, like, what are you talking about? Come on, man. We can name the nine figure companies that are out there. No, I'm saying like, you have a nine figure company? The Lakers don't have a nine figure, like, what are you talking about?

So forget what everyone says. If you're on your own journey, and like Warren Buffett said, you don't get rich fast. You get rich slowly. And anyone listening, for the majority of those, there are get-rich-quick scenarios, and it happens. But don't get fooled by people that say they're get-rich-quick. I know so many people. I've coached some that I've heard on podcast. And then I go in, and I say, well, tell me. And the numbers are a tenth of what they said. So forget that.

You will make Dan I bet you could say the same thing and tell me if I'm wrong for me I've made ten four times as much money five times in my 40s than I did in my 30s Because I I knew what mistakes to look out for I had a way bigger network I was way better at what I did way more connected to manufacturers look everything and it became easier. My 20s were hard 30s so

You want to figure out what it is you like to do. You know what you like to do. You want to get really good at it. You're fucking great at it, Tarzan. In your 20s, you figure it out. 30s, you get great at it. In your 40s, you cash in. It's the same with you. You made a lot of money. You were the youngest whatever you were. It was something big. Youngest guy on Wall Street to go public and all this.

But you will make more from 42 to 50 than you will have made in your 20s and 30s. I guarantee it. I made more from 40 to 42 than I did in my entire life. See? Because of what you just said. Exactly. So I hate this pressure that people feel in their 20s. Like, fucking be 20. Right, be 20. Exactly. Figure it out. Network. Grow. And that's a really, really important message that's not out there. And by the way, let's say...

Take the Colonel from Kentucky fried chicken who started the business when he was 50, right? You know, if, if you're older, it's still, it's still the same process. What do I like to do? Let me get really good at it and then let me monetize it. Except at 50, you have a much shorter window than you do when you're, when you're 20 to figure it out and get, but it's still the same thing. Like, what do I love to do, man? It's going to take me some time to get great at it and now I'm going to monetize it.

So the last subject is about charity. So we talk about giving away money to charity, but it's not just about money. You can put a lot of time, energy, social media, show up and donate your energy and help them with that charity. What are your thoughts about people doing charity, whether it's for their personal brand or for their business brand?

Mean if you are in a downward spiral the the easiest way to put a stop plug in the spiral is To do something nice for somebody like and by the way, if you're spiraling you got to put a stop plug in it So, you know that could be as simple as like I'm gonna go by the guy at the restaurant Anonymously a dinner. I'm gonna go pick up whatever walking old lady across the street makes you feel good now you get some positive momentum in your life and

Everybody listening to this is listening for a different reason. Maybe they want to get tips. Maybe they want to get rich I don't know but it's all different but the one thing everybody listening has in common is they want to feel accomplished They want a sense of accomplishment. Why do I speak? I feel accomplished when I get off stage I feel accomplished

Do you understand what I'm saying? And so charity is a really good way to do that, you know, to be like, man, I'm proud of myself. Make yourself proud. And it's the easiest way.

And it's helpful. You know, you're helping others. So I think it's really, really important. And if you don't have money, you can volunteer. You know what else you can do? Pick up shit that's on the litter that's on the ground. Just contribute. And you'll feel good about yourself. It sounds hokey and ridiculous. But let me tell you something. Go walk an old lady across the street when no one else is doing it and watch how many people come over you and be like, that was so nice of you. You know, like, oh my God, why did I do that? Because it's not on your radar. Right.

You're worrying about making money where the other person is working Worrying about how can I contribute big difference man? And if you marry both while you're making money, you're also contributing, you know, you're in In some regards like my wife Had spanx it was incredibly successful, but it was mission driven. It started out

Want to help women feel good in the products and then you know Sarah had given away 40 million dollars or something by the time she was like 30 something You know, it was mission driven. No one even knows that sorry Sarah But my point is it was driven like when it's mission driven like that the obstacles Become so irrelevant. You know what I mean? Like that why is so important and and that's also a

Big part of of the journey, you know, like you have a mission driven vision business, you know you're exposing people to animals that might not have known about it and Maybe animal cruelty. I don't know but it's not just selling a widget to make money It's not just putting cereal in a box load it with sugar make it addictive fatten everybody up give them diabetes spike their shit and go watch your stock go up and

man fuck you no i'm serious fuck you fuck you these are our kids so um it's important man

So along the course of the journey, when you had these five or six exits, how do you decide when's that moment when it's like, you know what, I've gotten the business to X amount or I've taken it as far as I could, or maybe this is just the right time. Like, how are those decisions playing into your mind when it's time to finally sell the company? Again, I think it's a, it's an individual decision. I think it's always better to sell early than late. You never want to trade a player late.

In the NBA, you never want to trade a player late. You want to trade them early, better than late. For me, most of the times, it's been driven by where I am in my life. Do I still have the passion, the enthusiasm for it? I've never built anything to sell it. Like, oh, I'm going to build this and this is my exit.

So it's a combination of passion. It's like and need and necessity, you know, it's an it's so many factors in that Dan competition risk for the risk, you know, like Here's another just thought again money as you get older. I feel like I'm the old guy in this thing man I thought this guy you guys have ever interviewed. I'm 55 Erwin McManus Erwin. Yeah, he sounds old everyone's great. Oh

Erwin's an old school name. Yeah, he's a pastor. Okay. He has a big church. Yeah. Mosaic. What the hell was I just saying? Tim Grover? That's what I'm saying. Grover, yeah. Grover's got it. That's awesome. What was I just saying? You want to be bulletproof. You want to take the biggest risks off the table. So again, selling a business now versus when I was young, it's a whole different thing. When I was young, I needed to take risks

the risk off the table. Now I can afford to push it. Let it ride. Let it ride. House money. So it all depends on where you are in your journey. And you have kids, no kids. Are you healthy, not healthy? There's so many factors there. My suggestion is if you are struggling with that decision, go to someone that's been not for validation. Oh yeah, like you ask your best friend, of course, yeah, man, take the money. Go to someone that can really help you make an informed decision.

And then I like to think, how would I feel? How will I feel? How I feel if I sell it? How I feel if I if I don't? For my wife, it was just the right time. She'd done it for 20 years. Four kids. New chapter of her life. She checked all the boxes, magazine cover, this cover, that cover. And it was just time. It was legendary. Time for the kids to go to college. Let them fly.

All right, guys. Well, hopefully we're going to get Jesse Isler back here. We like to keep these episodes to 40 minutes. Make sure to follow him across social media. Check out his big ass calendar. Follow along with the marathons. Hopefully you guys will start running more often once you get inspired to see what he's doing, going out there biking, marathoning, et cetera.

actually do some research about what he talked about on the cereal situation. It's actually really important as you could tell by the emotion, like it is a big topic that's really important for your children, your nephews, nieces, friends, family, et cetera. Have them really research what he's talking about there because their minds will be blown of how much sugar and bad things are actually in those cereals.

But as we always talk about here, it's really important to have these discussions with your friends, family, followers about money. Share the podcast, have the discussions, talk with your friends and be blunt about it. It's okay. We want to talk about understanding salaries, the taxes, the debts, the jobs, savings, investing, all those things because it's important for your daily life, especially because we expect people to live a lot longer. When we grew up, there wasn't a Whole Foods. It didn't exist. We had 64-ounce Slurpees and...

at 7-Eleven. When we grew up, there wasn't a gym on every corner. We didn't have apps for mental health and fitness and get to watch someone like Jesse do marathons. Cell phones didn't exist. Now, kids are growing up and hearing and understanding how to be fit, how to be healthy, how to get scans and understand new supplements, nutrition, everything in between because we have the information. And so I think people are going to live to, especially like your children, I think they're going to live to over 100. Some of them might be 110, 120. And so you need to have these discussions and understand these topics.

Because it is forever. So thank you having Jesse Itzler here. Make sure to check him out on social media and we'll see you guys next Monday. And congratulations, man. You guys are a top. You guys are crushing the list in podcasts. Top. I checked it out. Top three business, top 50 world. You're killing it. Thank you. It's awesome. It's really fun. So you guys keep commenting, keep reviewing, keep sharing, especially this episode because obviously having someone like Jesse here is a real honor for us. Thank you guys.

Peace. We have themoneymondays.com. The moneymondays.com is one-on-one. Like we do a video coaching every Monday at 4 p.m. PST. But themoneymondays.com is 200 bucks a month or you can prepay for the year. All of the profits are going to our World's Largest Toy Drive. So we're not doing it for the revenue part of it. You'll also notice there's no ads. Have you seen this? We've been doing this...

Monday, Monday's podcast ad free for you guys this whole year. So if you want to be on the coaching calls every Monday at 4 p.m. PST, if you can't make it on a certain Monday, we obviously send out the recordings. You can rewatch them. So we do about 40 minutes of speaking and teaching. I do most of them. So it's mostly me.

on those and then every other week or so every other two weeks we bring in other characters to come in there and teach you as well and then I leave around 20 minutes for Q&A sessions and you're on video with me and we're going to ask questions and you're going to be on video with AtTrav who does e-commerce for big brands or Joey Carson 30 years in the TV game

So we're not just talking about money on the Money Mondays Zoom calls. We're talking about business, charity, how to deal with mergers and acquisitions. And so it's live coaching for $200 a month for yourself. Maybe you might have a friend to refer to. So if you want some real coaching, go to the MoneyMondays.com. It's $200 a month where you can pay a discount and prepay for the year. That money is going to go help us. The world's largest toy drive. We are trying to put out content so that you guys can be better, talk about money, share with your friends, etc.