SUMMARY KEYWORDS

people, rich, realize, started,invest, properties, coaching, Kathy, book, property managers, investor, wealth,helping, gremlin, worked, real, hear, conversation, family, talk

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Today's conversation issponsored by first generation Capital Partners. If you're an accreditedinvestor and you want to know about how we're helping other accreditedinvestors keep more of their income, go to first gen cpe.com forward slashgoing long. It's vital to say like, how am I living my life now? How am Ispending my time? And write down? What are those things that are most importantto you? And then take a look at how much time am I investing into each ofthese. You're listening to the going long podcast with Billy keels, the numberone podcast for long distance real asset investing.

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Welcome to the gold longpodcast, we're back once again to continue to help to educate you so that youfeel much more comfortable as well as confident investing beyond your backyard.And yes, I am your host, Billy keels, and I'm here to welcome you back toanother fantastic conversation. Because today's guest absolutely crushes it,you're gonna love today's conversation, especially if you are looking to becomean even wiser investor, if you're looking to find out about real wealth and howthat happens. And building that around networks is today's conversation you'rereally gonna want to stick around for so I cannot thank you enough forcontinuing to leave your honest written reviews as well as ratings. It'shelping us to move up the chart, which is absolutely fantastic love seeing thishappened week over week. And it's great. And if you have not had a chance togive a an honest written review, as well as writing, we made a very easy littlevideo here. Specifically, it's for the Apple podcast platforms, if you want tojust take a couple seconds, leave it there, it's really simple, really easy, I wouldgreatly appreciate it. The other thing is, and this is new, this is like super,I want to keep talking to everybody about it. Because if you're looking forevery single episode, from all of the episodes, from the very beginning fromepisode number one all the way to 220 some odd or I guess they're more thanthat. Now at this point, you can go to first gen cp.com forward slash podcasts,you can find every single thing that you need in the show notes, you can findthe transcript, you can find the video, the audio, all of it, you can find itthere. So just go ahead and check it out there. And it will be absolutelyphenomenal. So listen, so that's going to be awesome. And the other thing is, Iwant you to get into today's conversation, because today's conversation isreally going to help you it's the today's conversation, the guest is fantasticloads of experience has gone from, you know, hearing life ending type ofmedical conditions to really understanding the value of time. And from there,he and his wife have built a network of wealth helping people understand realwealth and being able to do that across the US, and has also recently just comeout with a book called The wise investor, we're gonna get to that conversationwith rich Becky, just after this.

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Are you a busy high paidprofessional, someone that in the previous two years has earned $200,000 and isexpected to earn $200,000 this year. Or maybe if you file jointly, previously,you've earned $300,000 In previous two years, and you're also expected to dothat this year. Or maybe if not, either individually or jointly, you have amillion dollars in net worth not including your primary residence. If you meetany of these criteria, then you're someone that the IRS considers to be anaccredited investor, that probably means you're someone like an enterprisesoftware sales executive, you may be an executive in a major corporation, youmay be a doctor, you may be a lawyer, maybe a high paid consultant, you may bework for a major sports franchise, the thing I know you have in common is thatyou continue to do the hard work like you're doing 100% of the work. And you'reonly bringing home 50% of the reward because you continue to get crushed byyour income taxes. If you're tired of this situation and you're looking for anew solution, then go to first gen cp.com forward slash going along. When youget there, that's going to help you to start the journey so that you can beginto take back control of your taxes take control of your time. And then also thatmeans you're going to be able to spend more of the time that you want with thepeople that you love the most. And that is the way that you're going to get thepersonal freedom that you're looking for. So if you're looking to take backcontrol, go ahead and go to first ncp.com forward slash going long and see howwe can help you today.

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So if you want to understandhow being a wise investor can bring you real wealth in the long distanceinvesting game, then guess what today's the conversation you're going to wantto listen to until the very last word you know why? Because today's guestlisten to this not only loved in loves adrenaline. He was a an ex competitor inthe X Games at ESPN X Games. I think that's fantastic. He also started hisprofessional career as a president of a franchise business in the healthfitness industry. I definitely want to hear about that. You know also to todayhe is a co host of the real wealth show. He is also the principal of the Fettkegroup as well as the co founder of Real wealth. And he is the author of thewise investor gives me great pleasure to welcome to today's conversation. Mr.Rich Becky rich, welcome to show. Thank you happy to be here. Yeah, you put alot into the show to make it good. So I really appreciate that. You know, it'sI'm very, very blessed to have a wonderful team and they let me get here andhave wonderful conversations with

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Guess like yourself, so Ireally, really enjoy what we're doing. So thank you very much for that acknowledgement.Appreciate it. Rich, listen, I know we kind of talked about this, but, youknow, here, everybody's gonna get instant share our special guest today, you'regonna get five questions, you're gonna get two in the beginning, and you'regonna get three in the end. And this is really a chance for the growing familyto get to know more about you your story and the value that you're adding to10s of 1000s of people around the globe. So I'd like to get started, if youdon't mind. Are you ready? All right, perfect. It will help us understand whereis it that you live in the United States? I'm in this little town with 13,000people called Malibu, California. Malibu, California. I think that's over onthe left coast of the United States or on the Left Coast. Yep, we pay a highsunshine tax.

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You know, I can relate tothat. Because here in Barcelona, I definitely pay a high sunshine tax as well.Right. Yeah. Yeah, definitely worth it definitely worth it. The other thing is,I'd love to get started out with some positivity as well. Can you share withus, what's the most positive thing that's happened to you in the last 24 hours,in the last 24 hours,

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I'm gonna say FaceTiming,with my grandson yesterday, he's two and a half, and my daughter, her olderdaughter, he's not feeling well, they only live 25 minutes away, but he wasn'tfeeling well. But just, you know, looking into his eyes and hearing that cutelittle voice that was very positive. You know, I love those moments. And beingable to share those you made me think about when my kids were small, we woulddo a FaceTime and Skype with my parents across the across the pond. So thosesimple moments are so important. And I really appreciate you sharing that withus today. So

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Rich, I gotta make anotherkind of confession to you. So I know, we're kind of just meeting here. But Itend to like to keep the bar really, really high. And by doing that, sometimesI give myself these like really impossible tasks, kind of impossible tests liketrying to tell your entire backstory in two and a half seconds. Not

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never ever was going tohappen, right? But I kind of have to try things. So here's the thing. Sohopefully, you'll forgive me number one. And secondly, more importantly, if youcan help me, and basically helped me by telling your backstory, in your ownwords. And also, if I could just add one more thing, if you wouldn't mindtalking to us about some of the major decisions that you've also made along theway. And then we'll see where you and I take the conversation from there. Sure.Yeah. How far do we want to go back on the backstory? It's really up to you,man. It's because it's all your story. All right, well, yeah, I want to do dowe have to try to do two and a half seconds? So no, no, I tried to do it in twoand a half seconds when I was doing the two or three things, but you can takeas much time as you want me. Oh, god. Okay, cool. Well, let's see, I grew up inBoston, Massachusetts, I was diagnosed learning disabled, hyperkinetic, which theydidn't have a name for ADHD back then. When I was eight years old, I wasdiagnosed that and put on Ritalin and had a really hard time in school. So Ihad this Gremlin in my head that was always telling me, You're stupid, andyou're never gonna amount to anything. And then it wasn't until late in highschool, my junior year, I was getting bullied by this kid in gym class. And hewas just punching me every day. And I decided to start lifting weights. Andthat was what turned my life around. I learned the discipline of weighttraining of setting goals and starting to see that I could reach those goals.And then it worked so well that I started to apply that to my educational goalsand learned about putting systems and structures in place. And that had to beget obsessed with personal growth and personal development and business growth.Went on to get my business degree, opened up a health club when I was 23. Andit just it started to build on this belief of wow, maybe I am not that stupid.You know, I didn't even graduate with my high school class, I had to go back tosummer school. So overcoming that inner Gremlin was a challenge. But it's youknow, when we overcome things, I think it makes us stronger and better. And Ifeel I'm stronger and better today because I have more discipline, and I'velearned structures and things.

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In 1995, I moved out of Caliout of Boston area, sold my health club and moved out to Northern California.And I met this amazing woman six months later named Kathy now now it's KathyFettke. And, and we I had started a chain of one on one fitness trainingcentres out there. But then I heard about this thing called coaching. And itwas new this is 1995 so coaching was new. But I saw this ad about do you liketo help people are you into personal growth Do you like to help people achieveand grow and learn and so I signed up to become a certified coach that led meto becoming elected I served on the board of a coaching organisation and thenwas elected president of that coaching organisation that led to the media itbecame the boat big buzzword you know, coaching was all over the place and

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and so I started to have themedia do stories on me and stories on

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My clients a TV, front pageof the San Francisco Chronicle, San Francisco Chronicle and all that led to abook deal with Simon and Schuster. And I was speaking all over the country ontop of my game. And then I noticed this freckle. I'm Ginger. I have a lot offreckles, but this one was a big one. So I went in and got I was diagnosed withmelanoma, which is the most life threatening form of skin cancer, which no realbig deal, but I had the surgeries to remove it. But then they did a test andthey noticed that there were masses on my liver. So after several tests in a fewmonths, I met with an oncologist and he said, It looks like the melanoma hasspread to your liver. And you have about six months to live.

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By then Kathy and I had a, wehad a 10 year old daughter, a three year old daughter, it rocked our world, a

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lot of tears, a lot ofdespair. And Kathy was a stay at home mom. And so she's like, I have to, Igotta find a way to make ends meet if rich dies. And so she had this small,like a little radio show more of a hobby that she would have guests on and talkabout coaching topics, she was also a certified coach. And so she decided Ihave to find a way to learn about finance in a way to to make an income. And soshe she shifted her focus to interviewing people who were successfulfinancially. And not to our surprise, right, most of those people had madetheir money than their wealth through real estate. So she got excited aboutthat she came home and said, I've got a solution. And she seeked out mentorswho taught her about real estate investing. In the meantime, the doctorsrealise it was a misdiagnosis, I had a PET scan, which is the most advancedscan for cancer. And it showed zero cancer on my liver. So it was a falsediagnosis. It was just a man angiomas or clusters of blood vessel that most ofus have somewhere in our body. But that was the desperation in the impetus forKathy to get out there and say, What am I going to do? And that's what led usto real estate investing. So we started to invest

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out of California, we went toDallas, Texas area and bought a bunch of investment properties. Kathy actuallyhad Robert Kiyosaki on her on her show, as it started to get bigger. And he wassaying no, sell your high priced California properties and invest in Texas, andhe saw the growth that was coming there. And so that's what we did. And thatled us to real estate investing. We had people asking how we did it listenersof Kathy's show, were saying how did you do it? And so we decided to form alittle group of investors. We thought it'd be a couple 100 people and todaythat group has grown to now over 64,000 members that we've helped createfinancial freedom through real estate.

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That's absolutely

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inspiring. Story number one,appreciate you sharing just the highlights of the story. And you know, a coupleof things. Of course, I want to talk about a number of different things, butmaybe going directly to the to the question from from the show, right as youyou kind of throw that in there. You said you were living in the in NorthernCalifornia, but Robert Kiyosaki mentioned to go purchase properties in Texas.And so yeah, it was that around 2000 If the timeline is right, is that sometimearound there? That was about 2003. Yeah, is my book came out in 2002. And I getthat diagnosis soon after that. So it was 2003 2004. Okay, well, well beyond orwell before the 2020 exodus from California to other places, right. So. Soyou're doing this? Well in advance. At the time, most people are saying, youknow, invest in your backyard, right? That's one of the things that I alwaysheard. Yeah, it wasn't, you know, be a landlord invest behind, you know,invest, right, where you can see the property go over, check it out every day.And you can make two 300 bucks a door? Yes. At the same time, you and Kathy didsomething that was very contrarian at the time. Right? Can you also help usunderstand what was it that gave you all the impetus at the time to say I'mgoing to invest in properties that are literally 1000s of miles away, becausemost people would think that that was never ever even possible often enough.Today, I'm doing it 10s of 1000s of miles away. It's somewhat acceptable, butyou were doing it 20 years ago, Talk Talk to us about them. You will you know,20 years ago, we had the internet. And before that we didn't so so many peoplewere caught in that old belief of I have to be able to go by and check theproperty, I have to inspect it, I have to do my due diligence on it. I have tomanage it myself. And you know, it was the old they call it the 30 Minute rollrule back then, you know, it's like, make sure the properties are within 30minutes of where you live so you can get there when needed, and unplug a toiletor whatever. We didn't like that idea. And so with the internet and realisingthat, you know, we did fly out to Dallas and we met with some real estatebrokers and they toured us around these properties and honestly, they were newbills. They were from Dr. Horton. They're $145,000

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dollars. And they wererenting for 15 to 1600 a month. So it was that hit that 1% rule. And werealised that anything we needed was with property management in place. Andwith them with the ability to send us, you know, photos or videos, instantly ofthe properties or send us any documents or connect with us. There wasn't anyneed to stay 30 minutes away. So it worked incredibly well. Yeah. So I lovethat you and I hope that the entire going long family that you heard what Richsaid that they got on an aeroplane and actually went there. So I'm sure itwasn't just directly the aeroplane, I'm sure you had conversations with people,you developed it as if you were developing a normal relationship. And when itmade the sense, the most sense for you to take the relationship to the nextlevel, ie meet people face to face, help them to understand that you wereserious about building relationships, as well as making purchases, you took thenext logical step. And so I just think sometimes when we, when we talk about ifwe don't hear it from from someone like yourself rich, we think well, you cando everything 100% long distance, and sometimes you do need to actually get inmeet with people, especially when you're building something of significance.Yeah. Did you want to add anything there? I just there's something about Yeah,that meeting people thing. There's something about also meeting the propertymanagers. I think that's a powerful once we'd go out and we meet with propertymanagers and say, you know, what are the typical rents around here? And whatare the challenges that you seem to encounter? And what are your tenants like?And what areas of the city or this area? Are? Would you recommend investing inthings like that? So feedback from a property manager is just as powerful fromthen the broker who's trying to sell you a property? Yeah. Could you maybe talkto us a little bit more about that? Because i this will be really great insightfor those individuals. Okay. Well, I thought the broker was the most importantperson to talk to, what do you what are you deciphering from the propertymanagers when you're speaking to them rich?

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Well, it's just one, it'sjust kind of this gut level, do I trust this person, you know, and you can getthat there's something about human beings, we we have this built in almost alie detector, and we can sense of who someone is. And you know, it's so beingface to face with someone. There's that there's that sense. So going out? Andjust asking those questions, first connecting with the person and saying, youknow, What's your philosophy on property management? What's your approach, whatmakes you different than other property managers, you can start to kind of feelthe person, it's like a job interview, you can kind of feel them out and belike, you know, what do they like, how do they operate? What are their corevalues? So starting with that, on the foundational thing, do I do I know thisperson? Do I trust this person? Do I like this person? And then going on moreof those technical questions, like I was saying, what areas of the city shouldI invest things like that. And this is fantastic. I appreciate you breakingthat down for us a bit more. And in going on family, this is one of the thingsthat Rich's also sharing with you in that example is there are differentmembers of the team that are that have different responsibilities. So hementioned, the the the broker, right on the sales side of things is there havea particular role, when Rich's talking about investing, that time with theproperty manager, that they are the individuals who are going to beoperationally responsible for the day to day of your investment. So it's verygood idea to get their perspective, as Rich said, make sure that that someoneor a team that you that you'd like that you're getting to know and that youtrust, because they are the ones who are going to be spending the most amountof time with your clients who are your residential tenants. And it is a very,very great recommendation to make sure that you spend time with the propertymanager before you start to invest more in a specific location. So yeah, andyou know, that's what we've done it real well, that that's that was ourpurpose. That's when people were saying, How did you do this? And we wereexplaining it. And we said, Well, why don't we set that up. And so that's whatwe started do is develop relationships with brokers and property teams that hadproperties available, and property managers around the country. And so that'swhat we do now as a group. And that's those those 64,000 people that we felt,that's how we help them, we go out we meet the property managers, we vet them,we were almost kind of like the Yelp because we keep an eye on them. So we haveright now we have 15 different property teams and brokers around the country,mostly in the southeast, and in the south. And we have gone out, we've done ourdue diligence on them. We've met with the property managers, and then a lot ofthese property teams and brokers we've worked with for over 10 years, some evenlonger, so we get to know their reputation. And if they mess up, we go to themand say, Hey, take care of this member, because or we won't be able to refer toyou anymore. So it's a really cool, it's a cool network. So can you maybeexpand a little bit more on the network? Because it sounds you know, ideal,like we hear rich, we have a lot of people who are high paid professionals. Wehave a lot of it sales executive. So Surprise, surprise, that's where I camefrom. I have a lot of people who are doctors, lawyers are busy and want to beable to do things and this sounds very interesting in terms of the network. Somaybe you could talk to us a little bit more about that person that of those 64

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or 1000, like, maybe talk tous about that person that you're really helping and finding that the network isadding the most value to them. So I mean, you just, you just nailed it. That isexactly it. So we started in the San Francisco Bay Area. No, now we live inMalibu, but we've only we've been here 12 years. But before that, we were inthe Bay Area for 15 years. And that's when we started real wealth. And so itwas a lot of Silicon Valley, you know,

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executives and busyprofessionals, and yeah, they don't have the time to do any of that stuff. Soit's gonna be a little bit more of a done for you type approach. And so thatthat's what that that that person, so many people come to us, I would callthem, what are called Henry's, I don't know if you've heard that one. But it'shigh earners, not rich yet. And they're, and that's the protagonist in my bookthat was investors is that making a good six figure income maxing out his 401K, but the having a lot of cash in the bank, but a lot of that is, you know,getting hit by inflation, that cash in the bank, and they're so busy that theyjust can't do it on their own. And then their money is not making money inthere. A lot of those a lot of our clients want to escape the volatility of thestock market, or the volatility Terry, volunteer of, of crypto. So, you know,that's, I think, a lot of people who just want to get into hard assets. Yeah.And this is that, well, you're definitely here in the right with the rightfamily, because we like hard assets here. So you're making that transition,because I did want to talk about real wealth and and then I know one of thethings that you mentioned you'd written about before, and I know recently, thatyou've had your new book released, and that it's the wise investor. And Ireally would love for you to tell us a bit more about the wise investor. I knowyou started talking to us a little bit about Henry now, but

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because I know the way thatit's written, it actually not only has taught has hard facts, but really tiesit to fables and in the storyline. So maybe tell us a little bit about the wiseinvestor? And I'm sure we'll be able to dig into some of the different elementsthere. Sure, absolutely. I mean, it ties so much into our business. It'sinterviewing so many of our members at real wealth over the years, on thepodcast and on our webinars. And we do these member investment investor panelsto interview you know, and ask them what worked and how did you get from whereyou were to where you are now, a lot of these stories, I was just inspired bythem. And that's what I wanted to weave into this book. And so I wrote it as aparable. Because a parable and a story has the ability to take information andmake it emotional, to actually elicit a change. And so many of us so manypeople we get, we spend more time with entertainment than education. But themost successful people put their focus on education and not just entertainment.There's that balance, you know, some entertainments fine, but so I justthought, well, if I can weave this into a compelling story, that is a pageturner, then you're getting the entertainment piece, but also communicatingthese really, really important lessons about investing about how wealthy peopleoperate, about everything from growing a business, to investing in real estate,and why. So that's a lot. So basically, the story follows the protagonist, hisname is Ryan Brooks. And he's this hard working family, man, he's got a coupleof kids, and he's got his wife. But he in he works so hard that he doesn't havetime for his kids for his wife or even his life. He's out of shape. He's just,he's just feeling like he's in the grind. And at the same time, a lot of hismoney's going into expenses that are liabilities, you know, they're not assets.And then he meets is a new friend and a new mentor, who shows him a new way tocreate financial stability and financial freedom. And this guy becomes wealthyin more ways than one. For sure. You know, rich cannot, can I just stop youthere? Because I want to go back because I think you and I know what you'retalking about when you say that they're placing their money in liabilities.

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But a lot of times, becauseyou're, you're so busy. Probably most of the people that are either watching usor more more than likely listening to us are in their car, and they're thinkingwhat's going on? And you know, they're here, they're intrigued. But what maybegive us a concrete example for someone who is

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still placing their capitaland things are placing their money and things that are expenses, and not reallyassets. Yeah, I mean, so the way the mentor explains it to Ryan, in the book tothe protagonist, he says that assets are anything that brings you income, orbetter health, or happiness or time. Anything that detracts from your income oryour happiness or your health or your time is a liability. So it's a littledifferent way than we usually here to look at assets versus liabilities. It'snot only financial, but when you start looking at things through thatperspective, you really start to look in your life and say, Wow, is this

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Personal liability in mylife? Is this is this boat, I'm thinking about buying, is it a liability? Is itgoing to? Is it going to add income? Or is it going to track, and you can startto kind of put it in those categories, it simplifies it. But that's that'sexactly it, you know, so often we are caught up, especially in America haveKeeping Up with the Joneses, and how we look and what what we post onInstagram, or Facebook or whatever. And it ends up being the expensive watchesthe expensive cars, the boat that you don't really need or don't really use,whatever that might be. And so many people are unaware. And they often don'thave even a spending plan or a budget. And they're so unaware of where alltheir money's going, that they don't realise that the saving to invest processcan actually be somewhat addictive in a positive way, though, it's like, youstart to really look at that. And so one of the assignments that theprotagonist gets into gear is to really look at how much he's spending. Andthen the challenge from the mentor is, I'm going to challenge you to reduce thatby 20%. And he's like, No way, there's no way I can reduce my expenses, mymonthly expenses by 20%. But he learns, and then that money that he's saving,he's able to save up enough to get started and really start to invest into hardassets. And it's amazing what happens when you actually write things down,begin to measure them, and then follow up on them. Right, yeah, it's, you know,it's like, people, when you hear a lot of times, well, I hope this happens. AndI hope that happens, well, probably hope is not a strategy, as long as I've wasin sales, sales leadership for 26 years, and that strategy never really workedfor me. But usually, when you put things down and you understand what works,what is the baseline what you need to do, at least to start moving, and then ofcourse correct and figure out that's gonna give you a much higher probabilityof being able to attain or achieve the goal that you're looking to achieve.

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Trusting that you're enjoyingtoday's conversation. And you know, if you're tired of getting crushed bytaxes, and you're looking for greater freedom, to be able to choose what youwant to do, when you want to do it, make sure that you go to first ncp.com,forward slash going long, and see how we can help you today. Let's get back tothe conversation.

27:10

One of the things that I alsowant to just highlight that you talked about, which, which I think isfantastic, is it's not just the financial assets, it's really, as youmentioned, it's health, it's looking at happiness, and also looking at time,

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specific specifically. Andthis is one of the things that I've recognised even more. So I mean, I've beenout of the corporate world now for six months. And, of course, I come from afamily. And we didn't talk about this before I come from a family, we very bluecollar family, both my parents worked two jobs, and neither one of them went tocollege, one didn't go to college when they were finished college. And sothere's a lot of focus, typically, and I was surrounded by a lot of really highpaid software salespeople on the financial aspect, right, what I've started torealise, rich, and I'd love to get your thoughts on this. And maybe there's notone that's more important than the other. But what I've understood now is theway that you invest your time, especially your time, because it is the onlyasset that is fixed for everybody. Whether you're Elon Musk, or you're theperson who's sleeping under a bridge, it's always the same. Yep, that typicallyhas the largest impact on the others. At least one of the things that it'sbecoming clear for me, I would love you know, with your experience in coachingand having a, you know, 65,000 plus people, what your thoughts are on that aswell.

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I mean, I'm passionate aboutthat, you know, being told I had six months to live really rocked me. And itreally had me realise that value of time, and getting the most out of everysingle day getting the most out of being the best version of myself the best Ican be. So I'm constantly looking at that. And yeah, the example of Yeah, see,it's almost like blending that that coaching background, and then the financialbackground, this stupid kid that thought he could never amount to anything.Following this process and realising that you can, you can get there by workingon yourself, when we get better, everything around us gets better. So that'sthe time piece. It's like investing that time into yourself and into yourfamily and creating that time and there's a way to create it, it's throughcreating passive income. And that comes from investing in these assets, that'sgoing to bring that passive income where you can get your level you can go fromthis negative cash flow in your life, then you can get to kind of cash flowneutral, then you become to cashflow positive, or all of a sudden yourinvestments are bringing in more money than your budget. And then you get tofinancial freedom where you get to that place where there's enough money comingin where you have freedom of time, and you can have more time with your family.But you have to carve it out in the beginning. You can't wait until you get tofinancial freedom place. I think it's vital to say like how am I living my lifenow? How am I spending my time and look and read

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Sit down, what are thosethings that are most important to you? And then take a look at how much time amI investing into each of these? And often you'll see this like, oh, wow, I saythat my family's important. But I'm spending a lot more time in the office andit works. And with my family, you know, I actually just wrote something onLinkedIn the other day, exactly that thing, because I actually went throughthat, you know, I said, I want to, you know, be the awesome dad, and I want todo all these kinds of things. And I have a very good mentor, very strong, andyou know, love me a lot and say, hey, look, let's do something, let's just sitdown, you say all these things are important. And you want to do this. Andlet's see kind of where, where your time is. And I started realising I didn'teven have time marked in my calendar to do things and focus with family, muchless, to have it and not do it. And then when I was aware of it once again,because it's about being aware, to say, Okay, well, as someone is coaching you,as someone is mentoring you through that, how do you get better, it's okay to,to be at a point where you're not even aware of it, you're not conscious of it.Okay? That's one thing. But once you are conscious of it, what is it thatyou're doing to actually move towards the goal, so that you can become thatbest version of yourself so that you can invest your time in the things thatmake the most important or the most impact for you for your family? So that'sit. That's it, it's carving out the time, it's, you know, it's actually, youknow, they talk about paying yourself first financially, right, I think we haveto pay our for self first with time. So it's just what you said, it's likeblocking it out, putting it on your calendar, what am I going to do this weekendwith my family? You know, putting it there blocking it out? When When is yourshutdown for work? You know, it's like this time of day, and it becomes almostlike your internal algorithm, right? It's like If This Then That. So if, if itgets to 5pm, then I shut things down. I go, I'm with my family.

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Rich for those people thatmay be that struggle through that. What have you seen that that can help them?

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You know, because it happensto a lot of busy people, Hey, I'm consistently I'm gonna shut down at five andI'm shutting down at 630 Every day. What would you say to that person? That'sjust having that internal struggle to do it,

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like the insert to actuallydo that? Well, I mean, there's two things. One is I think it's really powerfulto write your own eulogy. It's really powerful. Have you ever done that one,Billy, I have? Yeah, it's really powerful. Is it really because it's thatmomento Mori, right, that the stoics used to share, it's like realising that weare all going to die. And it could be today, it could be tomorrow, it could bein six months, it could be a lot longer, however. So what are you going to do?You know, it's like not just realising that. So when it's that writing, theeulogy, I think is really powerful. But beyond that, as far as that dailyimplementation, I think it is having a mentor or a coach, you know, being Ihave a coach that I talk to every Friday, and he helps me check in I actuallyhave this coaching sheet and I have on there that times that I want to spendwith my family that I will, it's a commitment, and then I'm checking in withhim on Friday, and I'm sending that form to him. And he's going to take a lookat it. And he's going to hold up the mirror and say, How are you living? Youknow, you said you were going to do this what what got in the way. So it has tobe that constant reflection. And if you're not doing the reflection foryourself, you need someone else to hold up the mirror and make you reflect, Ireally I really liked that. So the eulogy and having someone that's there tohold you accountable, to be able to do that. I know having children, that's oneof the things that helps me I have a constant reminder now, because my kids aregetting older. And it's just a matter of not that how many how old are they?But I think about it now how many summers do I have? No, right?

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Because it really, it reallyputs things into perspective. I just talking to a friend. And they helped me toalso do the same paradigm with visiting family and friends in the US becauseit's not about how much how many more years? Because really, how many moretimes are we going to see one another, of course you see

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on FaceTime or zoom orwhatever. But it is a very different How do you optimise every single moment thatyou have, especially when you're physically together? So

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one of the other things and Iknow we've maybe touched around it a little bit, but one of the things thatwent with the book, and we talked about, even with your network, real wealth,when you consider, like real wealth, I mean, that's what your whole, your,your, your, your whole network is based on and I know you touched on some ofthat in the book as well. But maybe you could talk to people to help usunderstand conceptually, what is real wealth?

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I mean, it's we're right onthe topic right here. It's why we call the company real wealth, because it'sbeyond just wealth. Well, real wealth to us is having both the money but alsothe freedom to live life on your own terms. So it's the ability to do what youwant, when you want with the people that you want to be with and to enjoy eachmoment. That's real wealth. So it's, we actually have a real

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Wealth assessment on ourwebsite. It's just simple. It's real wealth.com forward slash assessment, realsimple. And you can go in there. And there's 20 questions that have you reallytake a hard look, and you rate yourself of your satisfaction on one to five oneach question. And it's questions around, you know, do you have a financial advisorsin place to help you? Do you have good control over your finances and have anincome statement and a net worth statement, and a profit and loss statementalready at, you know, at your fingertips? And it also says, Do you have thetime to be able to spend with the people that you love and care about, and askyou questions about your health and fitness. So it's that whole encompassingholistic view on wealth, which we see as real wealth. And then by the time youcomplete the assessment, you get a total score. Most people who do it the firsttime come in around about 50, or 60.

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I bet your listeners who aremore, you know, on this path and making things happen will probably come inmore in the 70 or 80. But the goal is to be up in that, you know, as over 80,more in that 90 to 100 range. And so it kind of highlights things in your lifeto really look at it. Of course, coming from my coaching background, I lovetools that can help us structure and realise things and do assessments likethat. But you can say like, Okay, where am I lacking? What do I have to changein my life? To really experience real well, so I'm fully satisfied. Fantastic.So and that's once again, it's real wealth.com forward slash assessment. Rich,could you also remind me, I didn't ask you earlier the book because I know thatthere's also a website for the book, the wise investor. Yeah, it's just thewise investor. book.com. Yes, it's on Amazon. It's on all major booksellers.Right now. It's an on Kindle. It's an e book. Because of supply chain issues.As you know, what we're dealing with. And printing takes seven months now toprint a book. It's, it's crazy. So anyway, the hardcover comes out in Augustand along with the audiobook, okay, fantastic. And we'll include that in theshow notes. And you'll get a chance to talk about that, that as well as theend, but just it was it was at top of mind, so I just wanted to, to to do that.Um, so listen to the thing is, Richard, we're gonna have to get ready and getto the, to the going long, final three. And so and so the thing is, I guessjust one last question, before we get to the going long, final three is,sometimes this one thing can happen. And I just want to draw on your experiencefrom as a as a professional coaches well, but what happens when you get thosekind of like negative thoughts in your mind? And this a lot of times, people,maybe you're thinking, You know what, this all sounds great. But it's so easy,because everything that I'm doing right now is, is stock market and this stuff,I'm using stock market as an example. But it could be anything where you justbasically you want to move in a direction, but you keep having that negativeself talk. Yeah, when you see that kind of example, because I'm sure you see ita lot probably.

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What do you do to help thatperson that's experiencing that kind of negative self talk? No, that's a greatquestion. You know, I've coached everything from CEOs to homemakers, andattorneys to artists. And every single person I've ever coached, includingmyself, has this little voice in their head, that negative voice, like I saidearlier, mine was you're stupid, you're never gonna amount to anything, itstill gets me. It still comes in. And so that little voice, I like to call itthe Gremlin. There's an amazing book called taming your Gremlin that I read inmy coaching certification process. And the Gremlin is those whispers in yourmind that tell you you're not enough, you're going to fail. Look, this is goingto be just like 2008 don't invest. Now. Look, your your friend lost money inreal estate. So you know, it's a hold as negative voices. So how to handlethat, the best thing to do is notice it, that Gremlin is so powerful when it'sin the dark, because it's in our subconscious mind. So the process that I use,and I think is really powerful. And when I coach a client is just for that toslow down. You take a few really deep breaths, which actually affects your yourheart rate variability slows you down, it relaxes you, it has you moreconfident, more grounded. And then you just ask that little gremlin you'relike, Okay, Gremlin, what are you worried about? What do you need here? Whatare you saying? And you let it go. You let it you let it say what it wants tosay. And it's incredible. Your subconscious mind starts to bring up all thesethings. And then you just say, Okay, thanks. Thanks for communicating with me.Thank you. Thanks for letting us It sounds hokey, and weird. But, but it'samazing what happens, your subconscious mind starts giving you these answers.And then you can just say, Okay, I hear you, what do you need from me? What doyou need from me so I can move toward this. So I can go after this. So I cantake action. And that little gremlin? That little inner voice, which is reallyjust a protector, it's trying to protect us, it's trying to do its best job,but it's often over protects. A lot of times it will just say, well, I need youto figure this out. I need you to learn this. I need you to find a mentor. Ineed you to find someone else who's done this, whatever it might be. I need youto

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Do more due diligence.

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And then all of a sudden itstarts and then you're like, Okay, anything else, anything else, anything else,and it tells you these answers, and then you just then use that to moveforward. So it actually then it instead of trapping you and holding you anchoreddown, it actually facilitates and helps you move forward because it gives youanswers. So really powerful. Fantastic. So I love that and being able to talkto that Gremlin, draw the questions, be able to be aware of what's happeningand then be able to take specific steps and be able to move on so I appreciateyou to do that. I know you I knew we were going to knock that one out of thepark so and also helping a lot of people that myself including yourselfincluded, that have these negative negative talk, are they the Gremlins, as yousay that? Oh, man, I hear mine all the time all the time.

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But the process works. Yeah.Fantastic. Well, listen, so it's time for the going long, final three. And thething is rich. I never asked any of our special guests today. You're ourspecial guests that go along final three unless you tell me that you're ready.So are you ready? I'm ready. You were born ready, man? I knew. I knew you'regood to go. So here you go. So the very first of the going on final three is Ikind of I started with you over on that side of the pond on the Left Coast ofthe US like to bring it back to this side of the pond analysis is my adoptedhome side of the pond, I guess you would say it helped us understand rich. Whatis your favourite European city that you've either visited or still on yourbucket list to visit? Oh man. Well, it was it was Kitzbuhel Austria, but itjust changed less than a year ago. It's my Orca. I went there to visit mydaughter who is living in Barcelona and we we hiked Montserrat, we went to LaFamilia Sakurada, which is amazing. And then we went over to my Orca, and westayed at this five star hot springs place with a Michelin restaurant and thiswhat a beautiful island that beaches and so anyway, may Orca. Majorca isabsolutely fantastic. Living here in Barcelona, I used to spend about two tothree days a week there for about six years. So yeah, so we'll talk we'll talkabout that. It's a short 25 minute flight, as you all know, but But yeah, it's,it's a pretty nice, nice, nice place. Nice place. Very nice. So here we go. Sothe second of the going on final three, this really has a lot to do with thegood fortune that I've had in being able to meet a lot of very successfulpeople. And I consider you to be someone who is very successful impacting 1000sof 10s of 1000s of lives across the globe and queue. And one of the things thathappens rich and hopefully you agree like one of the things that happens withreally successful people they unlike most people whenever they try somethingthey put a plan together when they start to execute on the plan they geteverything right the first time which allows them to actually go much

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and

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not don't worry rich it'sjust a joke.

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Rituals really worried aboutme. He was like, No way You gotta sick it. No, it's not the jet like it's it'sit's this kind of a joke. It's an inside joke with me. And they go alongfamily. Of course. Of course, most people don't get things right the first timein especially successful people. The reality is rich, and hopefully you agreebecause this is serious, really successful people, they make like 20 to 50times more mistakes than anybody else. Yeah, absolutely trying lots of newthings. But something that is very serious. And something that I haverecognised. And this is no joke is that every time there is a relevant mistake,the most successful people without a doubt stop every single time

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they learn from the mistakeor the learning opportunity or however you want to call it.

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And then from that they putdifferent strategies, tactics and actions in place to minimise the probabilityof that exact same thing happening again. Yes. So what I'd like for you tothink about rich now it's not really the learning opportunity or the mistakethat you made. Well, what is the one lesson that you know that the going longfamily needs to hear today to minimise the probability of that same thinghappening?

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Oh, I'm very clear on thisone, because the mistake was Kathy and I were advising people to sell theirhigh priced California properties and 1031 into cash flowing properties. And wedid that somewhat. And also, it was like, hey, or take our advice, becausewe're not using it. We didn't we didn't follow it. So we held on to several ofour high priced California properties that were negative cashflow, and then2008 hit and it and it really, it really hurt us hit us hit us hard. And wealso had short term construction loans that came due and then Lehman Brotherscollapsed. And you know that everything loan lending shut down, we were like,oh, we'll just refinance these properties later, and we couldn't refinance. Andso that hit us really, really hard. So the big lesson on

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that I would love to sharewith your listeners is to make sure you that a property investment propertymakes sense from the day you buy it. When you do the math on it, do not buybased on appreciation, thinking it's going to happen, make sure at leastthere's a little bit of cash flow in there, make and make sure that you havethe reserves. So if you get hit hard, you can't refinance something, don't doshort term bridge loans, and especially in today's economic climate.

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So that that would be the bigone, make sure that you have the reserves, at least six months reserves. So ifif things go bad, if things go south, you can still control the properties thatyou own. And had we done that if we had the reserves, and we could have notgone negative so negative cash flow, we we would still own a lot more of thoseproperties today. And they would have appreciated they probably would havetripled by now in value. I appreciate your vulnerability, sharing that with usand also going on family you know, Brett today, Rich's sharing that with you.So that you understand when you're looking at purchasing that asset orinvesting in that asset that it makes sense from day one. And also that eitheryourself or if you're investing with other people that you have adequatereserves to minimise the probability of negative things happening in the in theunlikely event of downturns and things like that. So appreciate you sharingthat with this rich. We already talked about your book earlier, the wiseinvestor in this way. One of the things I'd love for you to do is share with usjust to help feed everyone's mind once again. What is one other book that youwould recommend to us today? One other book

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man It goes all over becausethere's anything it can be anything it doesn't it whatever you like is today'sthe thing to be talking about. This is not a shameless self promotion. But it'smy wife's book is called retire rich with rentals and it just right up thealley of you know what what you preach, retire rich with rentals, it's how tocreate ongoing cash flow, so you don't have to work forever. So it's, it's theperfect fit. It's Kathy's wisdom of the last 20 years investing, all wrapped upinto a book that's 20 bucks. It always amazes me how people put so much into abook, you know,

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so that we pay Yeah,fantastic. So

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retire rich with rentals,you'll be able to find that as well. We're gonna make it really easy everyonedon't worry don't you can keep running on the treadmill or doing whateveryou're doing, we're just gonna put a very easy link that you can click on sorich, I you know, these conversations just absolutely fly by I'm thinking aboutyou talking to us. Although it wasn't diagnosed at eight years old with yourADHD and in you were being bullied and that put you into the gym and got youstrong and you learn discipline, you learned about setting goals, you learnedabout different putting systems in place and structure. And you know, and thenin 1995, you take a flight from right coast to the Left Coast and you startyour life there and you get into the into the coaching aspect, you startrecognising how many more lives you can continue to impact as you were there inthe in the fitness space. And, you know, you and and Kathy found yourselves ata point where you had some real life situation. Fortunately, it was a mouthdiagnosis. But you looked at that moment in time. And you and Kathy had torealise like, what are the things that Kathy is going to be able to do in themoment that you are no longer here. And so what that allowed the two of you todo is really focus number one allow Kathy to say, okay, what are we going to doand so from there, not only did it have a positive impact on you and yourfamily, but it's now impacting 64,000 plus people and growing around the globethrough your network. And also, you've been able to put together your wisdom infables, and be able to talk to us through the wise investor. You continue tomake impact on lives. And I know that there's so many people, you've given thema couple chances already but that want to understand like what is the best wayto get in touch with the rich with the wealth real wealth network, and alsofind out more about your book. So help us understand where can we find out moreto get in touch with you and and your team? Awesome. Yeah, I'm happy to sharethat and I am going to label you the great summarizer

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summarise that whole story.

49:11

That's pretty awesome. I lovethat. So anyway, there's there's only one rich Fettke in the world. So if youjust type in rich Fettke Fett ke you can find me It's rich Fettke on Instagramand Facebook. And then as you said earlier to the book website if you want tolearn more about it is the wise investor book.com To learn more about it. Onething I didn't mention is Robert Kiyosaki wrote the foreword for it. Sohonoured honoured for that and it's Amazon. I'm now a rich dad, author, whichis pretty cool.

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And then and then our companywebsite is just real wealth.com Okay, fantastic. Well, like I said, Rich, Iwant to thank you very much from the bottom of my heart for deciding to investyour time with us here today. The going long podcast with me in the go alongfamily I really, really appreciate it

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Thank you. Thanks for havingme. It's a perfect a Listen, give me like 15 seconds, just want to wrap thingsup here with the Golang family and then we'll, we'll be out of here. So,

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listen, going on family, whatcan I say? I mean, rich really left it all here from the right coast to theLeft Coast. He's talking about the way that he's found his discipline, able toset goals and now not only just done for himself, also, for so many otherpeople around the globe for busy, high paid professionals. He's also talkedabout the way you can find out more he's giving you talk to talk to you aboutan assessment that you can take to you know, take him up on that. And moreimportantly, today, share today's conversation. Don't just do this by yourself,share it with other people have the conversation because that's going to helpyou to grow, become more knowledgeable and move from theory to practice. And sowhile you're doing that, I'm going to be preparing for the next conversation.So until then go out and make it a great day. And thank you very much

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trust did you enjoy today'sconversation and once again, today's conversation was sponsored by firstgeneration Capital Partners. If you're an accredited investor want to find outmore about how we're helping accredited investors to gain their personal freedomeven faster. Go to firstgencp.com forward slash going long.

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