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The Rich Somers Report

The Greatest Transfer of Wealth in American History is Going Down | (Hosted by Gideon Spencer) E109

The Rich Somers Report

Rich Somers

Business, Entrepreneurship, Investing

5910 Ratings

🗓️ 14 November 2023

⏱️ 60 minutes

🧾️ Download transcript

Summary

Today, join Rich as he guests on The Hunt For Incredible Podcast hosted by Gideon Spencer, where they discuss how Rich got into the real estate investing space, why the 401k is a flawed system, the difference between small and big deals, masterminds, building podcasts, and Rich’s market forecast. They also analyze the biggest transfer of wealth in US history, boutique hotels, how Rich effectively builds his teams, the benefits of creating content for social media, creating authenti...

Transcript

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0:00.0

the definition of insanity is doing the same thing and expecting different results.

0:04.5

But it doesn't totally apply because if you're chopping down a tree, like yeah you do the same thing

0:09.1

over and over and over again and then you reach a threshold at which something breaks and then now you've

0:14.6

you succeeded like to your point a lot of people they're working towards

0:18.2

something and when they don't see results right away they say oh I must be doing

0:21.9

it wrong and they pivot, but really if you just

0:24.0

stuck with it long enough, you might reach that breaking point. A beautiful example that I heard

0:28.4

in atomic habits is, it's like if you have an ice cube in a room that's 28 degrees.

0:33.5

If that room goes up by one degree, nothing happens to the ice cube.

0:37.1

Goes up another degree, nothing happens to the ice cube.

0:39.7

And so it might look like nothing's changing, but once it hits 32 degrees,

0:43.9

now the ice cube starts melting.

0:45.7

Once you actually reach that threshold

0:47.4

and you break through it, that's when the magic happens.

0:49.9

That's when things really start moving for you

0:51.8

because you stuck with it.

0:53.2

Welcome to the Rich Drummers report where we talk real estate, business, and wealth

0:57.6

building all while keeping it real. No fluff, no BS. I hope that you enjoy the

1:02.0

show.

1:07.0

All right, so in today's show we have a very special guest.

1:10.0

We have Rich Summers.

1:12.0

Rich Summers within four years went from zero to 60 million dollars worth of assets under

...

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