I was at my mom's house singing out in my mom and so I was doing that at her kitchen table.

And they got to the section where it was asking me about 401k contributions.

And I remember asking my mom like, should I contribute?

And she was like, no, better to have cash in hand, don't contribute.

I'm Chris Hill and that's Justin Richmond.

Host of the brand new podcast started from the bottom.

He's also co-host of the popular music podcast Broken Record.

Ricky Mulvey caught up with Richmond to talk about the challenge of investing when money is scarce,

the rise of dynamic pricing in music and entertainment,

and the business rules that aren't taught in college.

Maybe an overly broad question, but growing up, what was your family and your relationship with money like?

Man, yeah, yeah.

Money felt scarce.

We weren't poor by any strategy.

We weren't, but it certainly money felt scarce and it felt like a thing to be respected.

There was a high premium put on looking as if you had money and not necessarily in like some gross keeping up with the Jones's kind of sense,

but sort of presenting yourself as sort of you can fit in with people who, you know,

the way I sort of thought about money for the longest time was, you know, that it was a scarce thing hard to get,

but was a thing to, but was certainly something to want to collect.

You know, it was like if I could somehow manage, you know, the other thing would be, you know, when you're a kid and you don't have a ton of money in your family,

you know, but you're still a kid, like you still want certain things, you see your friends behave in a certain way,

and I remember a common refrain in my household was, you know, you better make a lot of money if you grow up,

...