Die With Zero: 3 Key Lessons Bill Perkins

0:00On this Labor Day, I wanted to open with some facts about a book of mine that I've read called a die with zero. Give you kind of the three creaky or critical lessons from that. Don't worry, we still have a bunch of economic news, real estate news to talk about. But given it is Labor Day, happy Labor Day, everyone, I hear some Labor Day facts, according to a quick search that frankly, I didn't know. First, the first recognized Labor Day celebration was done in New York City on September 5, 1882. Yes, the first celebration was in New York City, 1882. The first state to recognize Labor Day was actually Oregon in 1887. And then of course, it became a federal holiday when President Grover Cleveland signed legislation

1:02in 1894. So federal holiday started all the way back in 1894. All right, let's get into the title. The title of this particular video is die with zero, three key lessons. This book is written by Bill Perkins. Number one, for me, this was, I don't know, embarrassing to admit, but it was one of those what I call light bulb or aha moments. And that is your money has an expiration date. How many stories have we heard about people that work until retirement? They have all these plans and then they are gone within a year or two. So again, your money does have an expiration date, at least when you can use it or enjoy it. If you're planning to enjoy, for example, a Mediterranean cruise, which I have been lucky enough to do and will likely do again, you better be an able body person because

2:07it is not wheelchair friendly, not walker friendly, cobble streets, unbroken ground everywhere. And also, at least when we went really hot, not a lot of shade. So not something I would try to enjoy in my 70s or 80s. Number two, this one is really cool to think about. And actually, I think we all know it intuitively, but we, at least for me, I didn't put it in context until I read this from Bill. Experiences, earn interest too. Think about it as a money or experience dividend. Yes, you and I are very familiar with dividends and stocks, with cap rates and real estate, with interest on savings. But how about those stories you still tell from way back when? What if instead of waiting 10 years to go to Europe, you go next year? Then you have nine years of experience dividends.

3:12I'm thinking of Coach Nick, for example. He just spent two months in Europe taking his family and his kids on what must have been an amazing trip. Those kids, those teenagers will remember that trip likely forever. And Nick and his wife will obviously remember that forever. So again, experiences earn interest too. Money or experience dividends. And then this is the last one. This is when I hear from a lot of folks and then we'll get into the economic news. Someday, someday isn't a plan. I will do it someday. We will go there someday. I will do this or that someday. That is not a plan. So again, if you haven't read the book, would die with zero, I will put a link below. It'll be an Amazon link. If you click the link, I'll make a couple of pennies. You don't have to. You can go search for this yourself, but the link will be below. Again, I think it was a great book.

4:13Definitely a couple of aha moments for me. All right, let's shout out realtor.com with this little juicy tidbit. Medium, medium list price fell year on year in 36 of the largest 50 metros. Now again, don't forget that list price is not sold price. But again, realtor.com putting out a scary headline. Year on year, median list price down 36%. How about our boy Lance Lambert from Rezzy Club once again given us the data. Most active inventory since August of 2019. Where is inventory compared to pre pandemic? Let's go to let's go shrinking first. Where is inventory down? Now of course, Lance Lambert is a data geek. There's probably, I forget how big the spreadsheet was, probably 50 or 60 names.

5:14I just took the bottom five and the top five. If you want to read it, you can go to Rezzy Club or I follow Lance on X. Shrinking, where is inventory down? Fifth place, Virginia Beach. Inventory is down 43%. New York City, down 48%. Providence, Rhode Island, down 49. Chicago, wow, Chicago, down 63%. Anybody invest in Chicago? What the heck's going on there? And then of course, I probably would have guessed this one at this point because it seems to be the top of every inventory list, at least for shrinkage, is Hartford, Connecticut. I don't know, is that just like the New York crowd going to Hartford? Is that people leaving Massachusetts and going to Hartford? I don't know, but Connecticut is really seeing active inventory shrink. All right, now let's go to where inventory is growing, growing, booming, whatever. Number five, San Antonio, Texas, up 27%.

6:17Nashville, Tennessee, up 32%. Denver, Colorado, up 34%. And folks, I'm just rounding these numbers. So Lance, of course, goes out to the decimal, but you're going to get the point. Seattle, Washington, up 44%. And the number one city, big city, with the most growth in active inventory is Memphis, Tennessee. Yes, Memphis has the most inventory. Already folks, let's talk about our amazing event in January, again, in Vegas, 16th and 17th, if you haven't got your tickets, get them. I've been asked a bunch of questions because I don't do a lot of marketing and my event bright doesn't have a lot on it. It is what it is, I guess. But here's what I hope you get from that event. Number one, bring your questions. You're going to be able to ask all of your questions from not only the speakers because they are there, but also other audience members or attendees. Number two, you're going to introduce yourself and get around other wealth builders.

7:18One of the things that you will see in our community is we are very open and warm to people that want to do the work, get focused, be disciplined, and be good people. You're going to be around top a list kind of people that all want to see you succeed because you succeeding is not them failing. This is not a zero sum game. Number three, my big goal is to make sure you all leave inspired this game that we've all chose to build wealth is slow and takes a decade. So if I can give you a little jolt of electricity once a year, I see it as my duty to do that because maybe it makes the next six months a little easier to get through. Number four, build new memories back to Bill Perkins and his die with zero. Some day is not a plan, experiences or dividends, earns interest and dividends. So again, I'm trying to build those memories that you think about. Man, remember that time we went to Vegas and we went to that event and then we did this or that after hours, we met this or that person.

8:19Oh, let's look at the selfies. I'm trying to give you all of those moments. And then finally, take lots of notes and photos. So again, lots of stuff for you to do. And don't forget folks, if you want to have angels get their wings, there you go. Deon says every time you hit the like button, an angel gets its wings, shout out, Deon. Hope you enjoy Labor Day. Let's talk about the real estate market today. Logan Monster Xiaomi put out some data about active inventory and it grew or new listings. It's grew 68,412. Some people are saying we are back to 2010. Man, these doomers suck. Don't think these doomers are evil. Just so we know, we can kill them with facts. I'm done killing them with kindness. Now we just kill them with facts. Active inventory for the same week in 2010 did not grow twice as much.

9:19Did not grow three times. It did not grow four times as much. In fact, it grew six times. Active inventory 2010, 383,000. Yes, folks, 68,000 is not 383,000. No matter how much the doomers want to create smack. I read a very interesting statistic about San Francisco. This one had me scratch in my head. One hundred and 44, one four four 12 times 12, 144 homes in San Francisco in the last six months sold for one million over asking. I don't know about you, but San Francisco is back. The wealth, the AI trade is back. You have a hundred and 44 people dropping a million dollars over asking.

10:22That is wild. Already folks, I saw a couple of posts about Las Vegas, Nevada being back to 2008 crisis, crash. I don't know what these people are thinking. They are so desperate. They are now just lying to you. So again, this doomer says that Las Vegas real estate market is worse than 2008. They are actually saying this. It's worse than 2008. Again, let's hit some facts. In 2008, one out of every 106, basically 1% of Vegas Valley household got a foreclosure notice. I will say that again. In 2008, one in every 106, basically 1% of Las Vegas households got a foreclosure notice. Today, one in 2,500, that is 25x bigger for somebody to say on camera and on video that

11:382026 is the same or worse than 2008 is moreronic. Is a complete fabrication is a dishonest way of living. I don't understand. Some people are just rotten to the core. Let's see what else do we got? Oh, we got record high gas prices. Congratulations, record high gas prices across the country for Labor Day weekend. That's not a good thing. Inflation inflation inflation. UBS says buckle up. Get ready for a September rate hike. I've been reading some articles that I think are interesting about the strong September jobs number or August, I guess, job number, sorry, reported in September. And it appears and again, I want to go back and double check this, but my early research says this is true. Part of the reason that September or August, God, why do I keep saying September? This job's data was so good. Remember 152,000 and the experts were like, I don't know, 48 or something.

12:41I think 37, I forget whatever. Is the low higher, low fire summer? What does that mean? Well it means earlier in the summer, let's call it June, maybe May, they did not hire as many summer workers. So what does that mean for August? It means you don't fire as many workers, right? If you used to hire 100 and then you fired 80 and you kept 20, if that's the normal summer rhythm and then this summer, you hire 20, fire 18, the adjusted seasonality is going to be very, very different. So interesting, right? So again, I want to double check this. I want to go look at nominal numbers versus adjusted, but that could explain one of the reasons for a blow out August jobs number. Looks like Ray Dalio is going after Scott Bessent. Scott Bessent says the only way out of this $40 trillion is growth to which Ray Dalio

13:47says, that's what every broke country said before their currency collapsed. Oh joy, Ray Dalio talking about the US dollar again collapsing. Alrighty folks, that's what I got for the daily financial news. We'll be back tomorrow at 730 AM live. If you watch these videos on the channel, they actually become a video at 8 AM. That's because YouTube does not treat lives very well. Live lives for basically a day. Videos get a lot more views and shout out Graham Steph and he is right again. Simply by turning these live streams into videos, my channel has gotten twice. Two X the number of views, same content, just flipping a live stream to video channel that is very much like mine where everything is live. Do yourself a favor, convert those to a video, get a title, get a thumbnail and you will likely see more views. Sadly, they are the sponsor of the daily financial news.

14:51Again, take a look below with the link. You are a landlord and it is your job to get the best insurance at the bed. Of course, I'm not sure why my camera is blinking, but that's kind of weird. Anyways, maybe somebody telling me the internet is crashing at home. Folks, we'll talk to you tomorrow at 730 AM. Later.