Q. In the news these last few weeks we hear about celebrities buying their kids into school. What do you think? How does this impact the rest of us?
A. This has been going on since colleges and universities have been in existence. The wealthy have always been able to go to University. It is the common people that haven’t. Nothing has really changed.
Second, parents and students in the real world feel that system is tilted towards the wealthy. So, why bother fighting the system which is slanted against them?
This reminds you that you should not be comparing yourself to the celebrity or the common person. Instead you should be determining what you want to accomplish and do that instead of being concerned about the experience of others (good/bad, rich/poor) at University.
Finally, a University education still, to this day, predicts a double lifetime income for a bachelors degree over a high school diploma, fair or not. Until this changes it is still worth having your children look into University. As much as they are not going to like it, it is still a reliable predictor of wealth.
*Entrepreneurs continue to have the highest average incomes and net worth, by far.
Q. Why is it so much harder to persuade people in 2019 than it was 20 years ago?
A. People’s persuasion skills have not kept up with the rapidly evolving way people now evaluate information.
1) Humans get a dopamine rush when they find information that validates their CURRENT beliefs. They don’t get a feel good reward when they discover the correct answers.
2) Instead of learning through experience or from experts people now learn much more through social media which is essentially a group of people collecting around other people whose ideas, philosophies, beliefs, politics, are identical to their own. These collectives dumb down the world rapidly. Instead of reading a book on a subject people read a poster on Facebook. The poster is almost always wrong and when they have a slice of truth it’s just a slice that doesn’t mean much going forward.
3) People errantly believe they can scroll in an article or book to the “main points” and get what they need from the main points. It doesn’t work in real life though. In order to understand the main points of anything you have to understand how the thinking process came to the points and how they might apply and when they are of most and least value. The story a teacher or trainer will tell is (hopefully) far more important than the fact itself. Why? Facts aren’t remembered. Stories are.
4) People are forced to defend current beliefs like no time in the past. Again, social media has created the opportunity of great divides in how people believe. Defending current beliefs is rarely rational but it feels good (See #1)
Q. I know that you talk a lot about buying gold…what are your thoughts on buying, investing, and holding silver in your portfolio?
A. So there are two ways that a person can hold silver. In your house or in your safety deposit box. To have $1,000 of silver is 70 ounces, which is almost 5 pounds. It takes a lot of silver to have a substantial investment. Everyone could have at least $5,000 (which is almost 25 pounds). Silver is something that if everything were to go wrong in your city, state, or country you will still be able to negotiate for what you need with silver. It’s much easier to do daily transitions with lower denominations of money than the likes of gold and definitely much easier than greenbacks if and when the stuff hits the fan..
The easiest way to invest in digital silver is with SLV (symbol). This an ETF that you can buy that is backed by silver. If everything goes wrong in the world though you will not be able to convert this into real money.
Whenever commodities are cheap, this is when you want to buy them. Today, they are cheap.
A person would do no harm to put 5% of their portfolio into silver.
Q. Buying gold, silver, platinum is all fine but isn’t it true that it has no return on investment, no dividends and doesn’t really go up in value?
A. For 95% of humans WEALTH is NOT going to happen because of dividends or growth. That requires stocks. Stocks are easy to trade, easy to sell, easy to cash out of from the brokerage. THIS IS THE KEY FACTOR. How EASY is it to convert your “investment” into cash. For 95% of people, they should learn to save by investing in things that take EFFORT to turn back into cash. People are impulsive AND lazy. The person who buys PHYSICAL gold, platinum or silver (easy to do) will not likely take that gold to the local gold dealer in the city and exchange it for cash. Meanwhile people investing in stocks online, can turn their money into cash in SECONDS.
Take advantage of human laziness and impulsiveness by saving in vehicles that are time consuming to convert to cash. Once you have $100,000 of metal, and a 401k, then head to brokerage firms to dabble in the markets that make casinos look tame…
Wealth is about ACCUMULATION, not RETURN.
Q. Is Disney bad for Star Wars?
A. Disney saved star wars from extinction. Disney has done nothing but good for star ways…save the possible exception of “SOLO.” “The Force Awakens” was excellent. “The Last Jedi” was excellent. “Rogue One,” again, excellent. Only “SOLO” was good and this was because of directorial challenges. This doesn’t reflect on Disney but rather the directors that worked on the first cut. The final product was actually pretty good. Not great but pretty good.
As a fan I am thrilled that Disney is running the show. I suspect that they will make a number of excellent movies to come in the future.
Q. Kevin, can you give me some research on why I might be intimidating to people so that I can read it and find out what I can do to be less intimidating or better, actually liked.
A. This is not something that requires written research. You can simply monitor your own behavior. Here are a few you can work on this week.
Facial scowls: Most people will be intimidated by a scowl regardless of age, height, creed or color. Sometimes a persons natural resting facial expression is one that exhibits disgust or anger when in reality the person is just fine.
If this is the case, you have to loosen your jaw and separate your teeth from each other. Look in the mirror and notice the difference between the totally relaxed face and the clenched face.
Proximity: Many people get too close to other people and they are unaware that they are too close. That intimidates almost everyone.
When tall people look down on average or shorter people they have to realize that they can be triggering childhood memories in the brain of the other person. Every abused child looked up at the person…not down, as they were getting abused. This is simple stimulus response. You’re paying the price because you are too close and too elevated in their space.
Unapproved/Unrequested Touching: Especially in cultures where it is considered inappropriate, can cause people not to know what to do next which can lead to fear and anxiety.
Instead of standing tall and straight next to someone of average height see if you can stand and lean into the wall a bit, and lower your height. This will make you less intimidating. Remember, don’t be a solider. That worked in war.
People who wear very expensive clothes/jewelry or dress in an extravagant fashion unnecessarily bring intimidation to those people around them. Your amazing $400k Maserati – having that car around you can easily cause anxiety in people close by for the simple reason of comparison.
Q. Kev, is it unreasonable that American’s have as much opulence as they do compared to the rest of the world? Is it justifiable that the United States “has” and most of the rest of the world does not “have?”
A. Extravagance is a choice. It’s not always wrong or right but a choice. – American wealth is currently important to the world. 25% of the world’s revenue comes from the U.S. We buy stuff. If we stop people who are poor in other countries go from eating to not eating. This is why we can’t have walls. Free markets and movement matter to life on this planet. – American’s on welfare live a much, much, much, much better quality of life than far more than 2/3 of the rest of the residents on this planet. For better or worse it’s all part of the same calculus of everyone’s quality of life on the planet. (Currently as the U.S. spends it improves the world in general, with plenty of exceptions.) – The U.S. population is largely ignorant of how the rest of the world lives. — Finally, having spent a lot of time in developing countries in the last few years I learned you don’t have to have an American budget to love, to care, to have compassion, to learn about what matters to those who have less. American’s are fine spending, our lesson is yet to be learned in understanding and listening…
Q. Should women lower their vocal register to gain more respect from people?
A. Lowering the vocal register, in specific contexts, is definitely a way to build respect with both men and women. Imagine someone giving financial advice to you with a high pitched nasal voice – you can be the smartest in the person in the world but if the packaging of the message is perceived to be be defective – the best information on the planet doesn’t get heard.
This is one of those things that isn’t reasonable or fair…it just is.
Q. Kevin, what’s the basic rule for buying a product from KevinHogan.com? You have so much stuff?!
A Start with foundation programs like “Science of Influence” (the 72 hour set is unparalleled for value anywhere on the planet), “Covert Hypnosis” so that you can understand why people do the things that they do. “The Comprehensive Body Language Course” program is so helpful because you able to learn peoples real “Language”.
After that the live programs can often include similar material to what might be in a book or CD program. The advantage of live is that you get to see real human interaction. I prefer live video vs. studio. Meanwhile, Influence boot camp is where everything that matters is debuted and discussed in depth.
Online courses like “Wealth Accumulation”, “Professional
Speakers”, and “Internet Marketing” are unique because you are not just getting information from Google which is not useful to anyone…instead you are getting information that is pertinent to you and your business.
Q. When are you are coming back to Europe to do an event?
A. My plan is to plan to come back in October for an event. I will see some of you in early Summer before that. As soon as dates are announced you will be the first to know.
Q. What do you think Europeans do better than Americans? What can Americans learn from your travels to Europe?
A. Middle and upper class Europeans eat healthier than Americans. They consume LOTS of vegetables which are dirt cheap. They live longer than Americans even though their health care system costs about 25% of the U.S. Europeans stretch their money farther because a lot of the things that we spend so much money on like Health Care or University are so much more affordable in Europe than it is for the U.S. Education is factored into their tax structure, which in northern Europe is very high, thus it costs very little to go to college. No one in Europe is wondering how to pay off their student loan.
The other thing is that art and context are very different in Europe from the States. You really do gain an appreciation for your surroundings in Europe. Obviously the U.S. has some of the most amazing places to visit or live on the planet. (Yellowstone, Grand Canyon, Alaska, Hawaii, The Rocky Mountains, Canyonlands, Tahoe immediately come to mind) But we don’t get the cool 1000 year old buildings, older architecture and so on.
Q. Who’s going to win the 2020 election?
A. As of today, President Trump is almost a shoe in to grab an election much to the chagrin of 55% of Americans. Unseating him would be easy but Democrats/Liberals shout out far too many things wrong with too many of his positions. The way you unseat a President is not on the number of things that you disagree with him on…it is with the ONE or TWO or THREE positions that your party disagrees with him on and hit those positions hard.
Q. Is President Trump good for the stock market?
A. Yes, just like President Obama before him was.