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A bite sized discussion on timely financial news and investment topics, to help you maximize your net worth and wealth for the next generation with Justin Dyer and Mena Hanna of AWM Capital.
Justin Dyer: Hey everyone.
Welcome back to another
episode of a WM Insights.
Uh, we got a little remote set up here
today, so hopefully, uh, hopefully the
technical gods, uh, give us favor today.
But, uh, wanted to, to spend a little
bit of time speaking to the, the newly
minted professional athlete, right?
We just had the Major
League baseball draft.
It was the futures game, an All Star game.
Uh, a few days ago.
And so kind of taking a step back
and, and focusing on that audience, I
think the conversation will be really
interesting to, to anyone who's a
listener, uh, a frequent listener.
But, um, certainly just given the
time in the calendar, I wanted to
kind of speak to that, that newly
drafted professional athlete.
Right.
Well, first of all, congratulations.
You, uh, you have done something.
Very few individuals in the, in the
history of the world have done so
awesome, awesome job, but now, now
comes the, the real part, right?
Both real on the field
and with your wealth.
And that's what we're
gonna get into today.
So many people, hopefully
regular listeners, know, we
like to go be beyond the cliche.
We don't speak in, uh, uh, taglines
and, you know, gotchas and, and try
to hook you into some kind of silly.
Immediate financial narrative.
So we're going to take the same approach
with this conversation today and, and
really try to give some actual, tangible,
uh, practical guidelines for the newly
minted professional athlete and mean.
I'm gonna turn it over to you to
really kick, kick off the conversation.
Get us started.
Like what, what are, what's
point number one that we want to,
we wanna leave listeners with?
Mena Hanna: Yeah, I think, I
think the most important thing is
digesting really what it means to be
a professional athlete financially,
and how big of a blessing that is and
how fruitful that can actually be.
Uh, we were talking about Warren
Buffet on the last episode, and you
made a comment about how much money
he'd accumulated at a certain age.
Well, he was worth around
$1 million at age 30.
In today's dollars,
that's around 10 million.
So yeah, you can see inflation
playing its role right there
between uh, 1960 and, and now.
But $10 million of, of net assets is
where a lot of our clients find themselves
at, sometimes even prior to age 30.
So taking a step back and seeing that
this foundation and the level of wealth
that you're actually building right now.
Can really grow into something phenomenal.
Warren Buffet's worth $141
billion today with a b.
Um, now, yeah, decades of compounding
returns and making good decisions.
Not spending money on, you know, fast
cars and, and doing reckless things,
but being diligent with your money.
If you have a plan, if you actually,
you know, invest like a champion.
Diversify like a champion, you have.
The skillset of saving money, putting
money away, not spending too much.
You can really create something
that's that's multi-generational
and potentially permanent for
all future generations to come.
Justin Dyer: Yeah, 100%.
I mean, so much of what we hit on in the.
Podcast aligns with, with
exactly what you're saying.
So it's a little bit of a self-serving
comment there, but there's good
reason for, for me hitting on this.
So, so much of what we do is,
is steeped in data, right?
You hear me say that time and time again.
Again, I know I'm kind of repeating
myself, but it's, I repeat myself
because it's incredibly important and
there's this huge narrative noise machine
kind of consumerism culture that is.
Uh, that's really kind of trying
to set you up for, for failure.
Not necessarily intentionally, it's just
how, uh, the world in which we presently
live in is, is, is, uh, is arranged.
But if you were to follow a lot of that
noise, a lot of the financial press, a
lot of just the hype cycles that come
with investing, you're really going to.
Likely damage everything, you know,
the opportunity you just spelled
out, Mena So I think it's, it's a,
it's a great time to double down,
re revisit, but also just double
down on some of these basic tenants.
Not only do we want to diversify,
but we want to think about your
entire capital structure or, or
financial structure, human capital,
social capital, intellectual capital,
and then financial capital, right?
We're, we're driving all of these
different sources of capital.
To really optimize financial capital.
And then that's our job to take that, that
money, the, the financial side of it and,
and invest it in the most optimal way in
a, in a, uh, way that is truly focused on
the long term and, uh, to hopefully get
you to that multi generational wealth,
uh, stature over the very long term.
If you make the right moves today,
the the odds are very, very strong.
Given, given where most professional
athletes, most listeners are
starting, that you're gonna get there.
But you do still have to take ownership.
You still have to make the right, make,
make the right, or play the right game.
Let's call it, have the right game plan
in place, um, and, and really tune out
the noise as much as humanly possible.
Mena Hanna: Yeah, tune out the noise.
And also I'd say listen to what
you actually listen to yourself
in terms of building priorities
and, and really establishing what
you want to do with your money and
being very thoughtful on that end.
You know, impact matters.
Setting intention is so important,
so you might not have the goal of.
You know, having a hundred billion
dollars by the time that you're, you're
80, 90, you might want to gift most of
your money away or spend it on something
that really truly matters to you.
But establishing, setting that as a
priority, working with our team to
invest in a way that actually aligns
with that prior with those priorities is.
The only way that you can, you
can truly accomplish it, you know,
at, at age 30, uh, I'm pretty sure
Warren Buffett was very intentional
with what he wanted to do.
And it doesn't mean that you need
to, you know, figure everything out
right now, but you need to have some
form of direction that you want to
Justin Dyer: Oh yeah, it's a great point.
I mean, we always, we always
reference Brian Cain or, or often
reference Brian Cain on this
call, a good friend of the firm.
We actually were chatting with him
yesterday and, uh, when asked, you know,
what, what, what is one of the most
powerful, um, tools that you can, you can
employ from a mental performance game?
Um, and he said exactly
what you said, Mina, right?
Set your intention now.
Then you have to put it together
a, an action plan to actually
support and execute on that.
And that's certainly very, very
true when it comes to investing.
So, right, you're gonna hear from
us, money is a tool to accomplish
what is important to you.
Well, you need to define
what's important to you.
You need to set that intention.
It doesn't need to be set in stone.
It changes over time.
It certainly has for me, as I've grown
in life and, and started family and,
uh, as my kids have aged and all that
stuff, it, it ebbs and flows, but
directionally having direction and
then, uh, a plan in place to support
that direction, to support those
priorities, to support that impact
really at the end of the day is huge.
Especially as you're, as you're
coming out of the starting gate here.
Uh, it matters.
Um, it matters just as much as
it does, you know, 20 years down
the line, 30 years down the line.
So, great, great reminder
on all those fronts.
Um, if we could put together a couple
pillars for the, the, the recently
minted minted professional athlete, Mina.
Let's, let's throw out just
four simple, uh, four simple
reminders for, for listeners.
Mena Hanna: Yeah.
Um, I always started discipline because
that's one that, yeah, that's front
and front and center for me, but.
Being disciplined is
super, super important.
You are disciplined on the field.
That is one of the many reasons
that our clients are in the
positions that they're actually in.
You also need to be disciplined off the
field with your investment portfolio,
with the opportunities that come in,
people trying to sell you on the next
cryptocurrency, which we'll get into
a little bit on the, on the next call.
Um, but you need to be disciplined and.
You need to follow the plan
that you've set after figuring
out what your intention is.
Diversification essential.
It's absolutely desen essential.
Investing in public markets, investing
in private markets, investing
internationally also in real estate,
um, and, and also investing in yourself
a lot of the times.
Your, your health, your wellness.
You are your own most valuable asset, and
making sure that you invest in yourself
in implicit and explicit ways you invest
in recovery, but you also invest in a
team that helps you actually manage your
money so you can focus on what matters.
I'd say that's, that's super important and
that's a way where you can diversify your.
Physical capital, your human
capital, your social capital,
resilience, being resilient and
kind of ties into discipline, but
being able to weather those storms.
You know, we just went through one in
April, I think people forget because
it was really, really short-lived and
we are back at all time highs now.
And yeah, crypto, there's a
ton of speculation you see.
Bitcoin at an all time high, but
being resilient when things are not
going your way, um, and, and staying
on course is super, super important.
And then just wrapping it up, um, we,
we've touched on this a few times on
the call, but really establishing a
purpose and figuring out what your
legacy, what you want your legacy
to be is, is imperative and is
really the way that you actually.
Get starting and get moving in
the right direction on this.
How invested are you in your community?
What impact do you wanna
leave on your family?
What impact do you wanna
leave on future generations?
Yeah, the those are, I would say
those are the four main pillars of
everything that we just discussed there.
And investing in general as a
newly minted modern athlete.
Justin Dyer: Yeah, no, super helpful.
And uh, as we wrap, you know,
it, it's, uh, it probably goes
without saying, but Right.
You're, you're basically at,
at, in the first pitch of.
Uh, of the first game of a,
of a seven game series, right?
So this is very much a long, long-term
endeavor in, and one of the reasons
we're here and, and make this specific
podcast is to constantly remind
folks of, of the basics, right?
Bring it back to the
basics, bring it back to.
These core pillars, these core beliefs,
these core core practices that are
really backed by data to, to really
generate and sustain long-term wealth.
So again, hopefully this was helpful not
only to, to those newly, uh, newly minted
professional athletes, congrats again.
But also just a reminder
to everyone, right?
You can take so many of, uh, these ideas
that we've talked about today and apply
it to yourself wherever you are in the,
the wealth, uh, accumulation journey.
So, uh, with that, we will wrap and,
uh, and hope to see you next time.
Again, let us know if you have any
feedback on the, on the podcast or
topics you want us to cover, and
we will certainly address them.
But until then, own your wealth,
make an impact, and always be a pro.
Thanks for listening.