If I Lost It All Today… Here’s the Truth No One Wants to Hear #realestateinvesting #realestate #kenmcelroy

We're talking about a subject that keeps most people terrified. I'll give you a bigger picture and pitch my game, my casual board game. The reason board games are great teaching tools is because, you know, when you go to school, you listen to some idiot up there telling you just in words, going in this, you're out there, you know, lecturers. But when you play a game, a game involves your four intelligences, mental, emotional, which is very powerful, physical, got to do something, and spiritual. So the trouble with school is you get some teacher up there who hasn't done anything, probably. You're teaching a subject they don't really practice. But when you play a board game like Cash Flow or Monopoly, you know, I learned everything playing Monopoly. Four greenhouses, 1031 tax deferred exchange used debt and all this stuff. Don't forget it. If I lost everything today, it wouldn't make any difference because money doesn't come from any place else but from outside. You just go out there and say, is that my money in your pocket? My rich dad had a couple of skills you have to have. One is real estate. I take real estate courses constantly. Number two is got to sell. So I went to work for Xerox instead of, you know, getting a job with IBM. Number three, you got to use debt. So that's what I practice. So you don't need money. You have the skill sets. How long would it take you to raise a million bucks? Well, that's why I'm not too worried about if I lose everything. I hope I don't. But if I do, you know, people invest in an idea, that everyone can make money in. So once you start to see those things, you can't unsee them. So for me, it would just be, oh shoot. I mean, it would probably be bigger than that. But I would just move on and immediately replicate what I'm doing now. Have you lost money? Oh, yeah, of course. You don't really learn a ton when you're making it. You really learn a lot when you lose it. When you lose money, that's when you learn the most. But that's the four intelligence, mental, emotional, physical, spiritual. So money follows management. If Kenny lost it all, I'd say, let's get back to work. Yeah, let's go. Right. Because I know he's got experience. I've seen his track record. But if some FNG, you know, if a new guy comes up to me, I don't know who that person is. So one of the reasons we're talking about seminars and things like this, we get to meet people who are doing the real thing. They're not textbook commandos teaching from a college podium. So you're looking for people with real-life experiences who've actually lost money. Well, you're getting screwed anyway. I mean, if you've got a job and you're paying taxes, you're saving money. You're getting hammered, screwed, tattooed. I mean, that's how stupid these people are. But they're more the mental, emotional, physical, spiritual parts of intelligences. The emotional part, the fear of losing, is why they're poor. Yeah, and you got to be careful of who you're getting your knowledge from. I mean, that's what YouTube is so great. Because, you know, in school you'll have a choice. You're going in there and most of the time that you're learning about a subject, basically just going through a book as a facilitator. But when you can actually learn from real people that are doing real things with whatever they're doing it in, whether it's gold or silver or oil and gas and water or timber, whatever it is, then those people are the people that you want to learn from. So that's who we're bringing to Limitless. We're bringing the real people that are doing real stuff in the real world and making real money based on whatever it is they're doing. Those are the people that are becoming the Limitless. Like in 1974, I was getting out of the Marine Corps. You know, I flew in Vietnam, six years as a pilot. And my father, poor dad, wanted me to become an airline pilot. So I'm up and done with it, finished. So to keep him happy, he said, why don't you get your MBA then? I said, okay. So I go to an MBA program at the University of Hawaii at night. I've seen it there in accounting class. I looked down on my paper after a while. It was all blurred because I was drooping on it. And this guy was so boring. And so I asked him a couple of questions. I said, well, how do I not pay my taxes? How do I use debt? He's just out of debt. He was emotional. He may be academically smart and he may know accounting textbooks, but not real life. So that was the end of my, that was the last time I went to school, this MBA program. And that accounting teacher couldn't ask me, answer me questions. How do I use debt to get rich? How do I not pay taxes? He had not a clue. He's what you call a preacher teacher. In a sense, Napoleon preaches to kids, but he can't do anything in real life. And I fell into this as a young man. I immediately, after college, wanted to go try to get a job like a lot of us. And I turned my money over to a wealth manager, like a lot of us do, because I didn't know how to invest it. And then I had some guy doing my taxes. What I realized is that the wealth manager was just a salesperson or an insurance company. And the person that I gave my taxes to was just somebody who processed the paperwork, which I could have done. But neither of them were actually trying to figure out how to grow my wealth. Not at all. All they were doing were basically commission salespeople. And so once I realized that you can actually make different choices on the way you invest, and you can find real tax people that are actually trying to legally walk you through the tax system the right way, then you don't have to necessarily make more. You actually just need to keep more legally as a result of using the tax system legally. So let me go back into exactly what Kenny is saying. 74 was the same year ERISA was passed. ERISA is Employer Income Security Act. The moment the government says it, you're going to lose your money. That's all it meant. ERISA became the 401k. I'm getting out of the Marine Corps. All these people are joining the, you know, like Charles Schwab and all those other companies, become financial planners. So I went to one of those meetings. I would say 60% were schoolteachers. And they're like my poor dad. I said, these schoolteachers are going to tell people about money. They've already got, you know, brake pads on their brains. They're going to tell people about money. This was May 2025. That was 1974. May 2025, it proves it because those financial planners, biggest liars in the world. It's a 60-40, 60% equities, 40% U.S. stock and bonds. Moody's last week downgraded U.S. bonds. And these financial planners were telling everybody, bonds are safe. There's no such thing as safe. You're either smart or you're stupid. But being smart is safer than being stupid. So these financial planners have been saying for years, 60-40, bonds are safe. The U.S. Treasuries and Moody's just downgraded our debt, which is why this is coming next, called the Big Print, because America can't pay its bills. It's $36 trillion in debt. The interest payment on our debt is greater than income from our taxes. America is bankrupt. And they're still going to tell you, put your money in bonds. And our bond market, let's say, is a thousand times bigger than our stock market. This is what's frightening to me. If the stock market crashes, it's called recession. The bond market crashes, it's called depression. And that's what I'm concerned about. So just last week, this is May 2025 again, just last week, Moody's downgraded U.S. debt. And these mental measures called financial planners are saying, oh, buy bonds because they're safe. That's the biggest lie. It's gold, silver, bitcoin. That's safe. And that's why there's a run going on right now, because people are moving away from currency or fiat or paper money. And they're moving into hard assets. And this is not just in the U.S. This is everywhere. This is why we're starting to see gold at an all-time high. This is why we're starting to see real estate stabilize and now be kind of a darling. If you take a look at where a lot of the money on Main Street is going, and even at Wall Street, it's actually going into real estate because it's their hard assets. Hard assets move with inflation. So that's where the money's headed. Rebecca McKinney is saying, talk about inflation. I'm attempting to build a house in South Carolina. I can't get a bid because of the tariffs, because the lumber generally comes out of Canada. And you know, Trump's trying to annex Canada and make them Americans. I think that's kind of funny, isn't it? But anyway, and so the Canadians aren't shipping us lumber. So I can't build a house because my builder is saying the price is going to go up. So that's how you know what's going on in the marketplace today. So just please remember, this gap between here and here, your biggest asset, it's also your biggest liability. Big question is, what did your mommy and daddy tell you about money? What did your school teacher tell you about money? What did your financial planner tell you about money? Well, maybe it's not correct. Ask yourself that question. Yeah, it's worth questioning. That's for sure. I would, well, if I was 22 years old, I'd want an experience. If I couldn't find a job, I'd work for free for somebody. Yeah, and I also think there's a huge opportunity for old guys like us that are kind of stuck on our ways with old practices, whereas the young folks are the ones, because they grew up with, you know, these things and they grew up with this internet. Social media. AI, chat GPT. Those are things that are coming at a fast pace that guys like us, unless we're open-minded, which most people our age are not open-minded. That is a huge opportunity for the young folks to swoop in and basically reduce their overhead by showing them ways that they can be more efficient, invest better, even take emails and phone calls and all that stuff through automation. And that's something that most old people are just not going to change. When you hit 30, 40, 50 years old, you're not changing a lot. So all you young guys out there, just look at this as a huge land-grabbing opportunity to help guys like us. And you can learn along the way. Like, you know, Cameron and Josh, you did a presentation today at The Collective. We're in Orlando, Florida. It's May 2025. Those are the dates. And you were talking about AI. And I sat there. So let's say there was 30 people in the room. I would say all 30 are excited about AI. Yeah. Because all 30 of the room are going to get richer because of AI. Correct. And so I ask the questions, but what about the people who don't know how to get rich? They're going to lose their jobs. Right. So as many people as AI makes richer, like Kenny and myself, it's going to make people lose their jobs, left and right. You don't need people. They can be replaced that fast. It's like every time I see a Waymo car drive by and I see this Uber driver falling asleep at night, I'm going, have you got the picture yet? This guy is busting his ass 14 hours. He's like, I'm sorry. I'm just trying to feed the kids and all this stuff. I mean, the other day, Robert, I met Robert for dinner and he took a Waymo and it was raining and we were in Phoenix. And he's like, the craziest thing happened. I go, what was that? He goes, it was raining and there's no windshield wiper. I'm like, there's no windshield wipers in a Waymo because there's nobody driving it and you don't need windshield wipers. So that's where things are headed. I met this young guy. I said, what do you do for a living? He says, I'm an entrepreneur. I said, what do you do for a living? He says, I'm an Uber driver. I said, you're not an entrepreneur. But in his mind, he's an entrepreneur because he's self-employed. But that's about all he knows. He doesn't know anything about debt, taxes, teamwork, business, the economy, nothing. But he's smart looking kid. There's a YouTube video of these two young, really beautiful women. How far do you go if you're traveling at 70 miles an hour? How far do you go in an hour? Just like years ago, the old guys, there was a guy named Jay Leno. He used to do something called jaywalking. So he'd go and interview the man on the street. He stops this really pretty young lady. He goes, let me ask you this. He says, how many stars on that flag up there? And they looked up there and the girl says, I don't know. You have to hold it still so I can count them. She didn't know there's 50 stars. I mean, that ain't that hard. But that's how us by Trump is firing everybody in the Department of Education. It's a criminal operation because all they're doing is stealing money, doing nothing. So the most important thing, I'm encouraging, Ken's encouraging, and we practice what we preach. Again, this comes in from Europe. I come in from Africa and we're still studying this book. From here, we'll go a real estate guy's cruise. We go to Infinite. But we don't go there to teach. We go there to learn. We are teaching there, but we're also there learning. We're sitting there listening to all the other speakers. As one of the great thing about conferences is you know what you know, but we will also in the other rooms taking notes. Yes, you can always get better. This guy Jim records. He was the attorney for LTCM, long-term capital management, and basically a long-term capital manager was a hedge fund and they nearly brought down the world economy. I was in Thailand in 1996 when LTCM collapsed. I think it's Connecticut based, but almost brought down Thailand. So I'm talking to Jim records. He was their attorney goes. Wow. So good thing is Wall Street bailed out a hedge fund then came the next crash which was 2008 and the Fed bailed out Wall Street. So records is this time asking said who is going to bail out the Fed? That's his question right now. That's what this is talking about right now. The big print because the Fed really can't do much but print more money and that's where we're going and we're Jim's coming to Limitless. He's going to be one of the premier speakers. I'm all excited by sitting down talking to her. We're going to do a panel with you and Jim and hopefully a couple other people that will mention later once we secure them as a speaker, but most importantly get to hang out the people who are now Seekers. This was Einstein said this truth belongs to the Seeker. You've got to keep seeking your truth. So that's why please come to these events and I'm excited about going it's always meets the greatest people. It's always stimulating. Yeah, it'll be a great weekend. It always is like today's talk on AI and then I met this guy from Lichtenstein and most people don't even know where Lichtenstein is but Lichtenstein is the Switzerland for Switzerland. It's where the rich hide their money. So I said, well, how much would it take me to hide my money? And look, you know, the average person isn't asking what's interest rate today? I want to find out what Lichtenstein is doing. But keep studying, keep learning.