Welcome to The Good News with Angie Austin. Now, with The Good News, here’s Angie.
SPEAKER 06 :
Hello there. Angie Austin here with the good news, along with my friend, Dr. Cheryl Lentz, the academic entrepreneur who is an avid, voracious reader. And she just finished another book. We’re going to talk about old wealth, new wealth, true wealth, beyond dollars, the new currency of legacy by Nathan Barkacy and Sharon Lecter. Welcome back, Dr. Cheryl Lentz.
SPEAKER 05 :
Hi, hi, hi. Good to see you guys. This is wonderful. I’ll tell you, I cannot tell you how much I enjoyed this book. I just got back from the conference in San Diego. I’ve met both of the authors. The book is signed in my hand, I will have you know. And it was absolutely chillingly magical. And it is just like, wow. Wow.
SPEAKER 06 :
Okay. So again, so you go to this once a year, you go to this conference and you meet a ton of authors, you get the book signed, you hear them speak and tell us the name of the conference again.
SPEAKER 05 :
It’s called Secret Knock. It’s in San Diego. I think that was the 17th time that I was there. And I like it because it’s not a typical academic conference. These are taught by people who’ve been there. Sharon Lecter is a legend with regard to financial literacy. And she is the founder of Rich Dad, Poor Dad, the Robert Kiyosaki series. So you get access to these people. And you get access to meet them, to talk with them, to hear them from stage, to have lunch with them, to have coffee with them, to read their books authored by them. And I’ve read quite a few. Matter of fact, I think I’ve got all of Sharon’s books. The last one was Outwitting the Devil, which was just amazing. She’s a very strong religious aspect and spiritual as well. And so when I read this book, it’s got a strong spiritual component, a strong faith component in there, and it’s all taught through the idea of stories. Really, really, really well written and well published. The book is gorgeous in and of itself as well.
SPEAKER 06 :
I’m just going to read a little bit before you discuss some of the things that you really enjoyed about it in the description of the book, Old Wealth, New Wealth, True Wealth. This is about Nathan. At 16, nationally ranked cyclist Nathan Barkacy was training with Olympic Aspirations. When a devastating accident ended the future he had envisioned for himself, he woke up from his brush with death, and what followed was more than recovery. It was reinvention as he created a multimillion-dollar real estate portfolio by the age of 26. Guided by the mentorship of Sharon Lecter, the legendary co-author of Rich Dad, Poor Dad, and a global authority on financial literacy and success, the combined wisdom in this book reveals that true wealth is isn’t something you stumble into. It’s something you designed, and this will give you an actionable, inspirational blueprint for true wealth. I’m definitely going to read this one, and this would be great for my kids too, I think.
SPEAKER 05 :
Absolutely, because it’s not told from the perspective of a textbook or even a business book. This is a story, and it’s about three brothers and a legacy riddle that their father leaves behind, and I won’t reveal anything more than that, but I will read a couple of quotes.
SPEAKER 03 :
Is that true? Is it a true story? Yes.
SPEAKER 05 :
I think it is an interesting true aspects of the story. Okay. It does take place on Sharon’s ranch and she’s got a ranch out, out, out West. And this is a, I don’t know, having never been to the actual ranch, I’m pretty sure it’s very close. It’s called the cherry Creek ranch that’s out there. And so there’s a lot of, and I don’t know Nathan’s story well enough, but I do know that it’s easier to teach lessons and, If you have a story or a parable, and this one is a really good one. Again, 33 chapters, I think it is. It took me a little bit of time to read it, but I savored it. And I don’t typically savor books. I read them and write. I’m a gracious reader, but this is something that I would read a chapter or two and look at the lessons they offered. And this is something towards the end of the book they’re diving into. At the end of most chapters is what they call a mentor’s corner. Lessons to distill from the story you just read. And they will have quotes, particularly from Napoleon Hill, which, you know, I’m a big fan. And one of them is faith is what keeps you peddling with logic says you should quit. Faith is the only known antidote to failure. Without faith, action turns into anxiety. Mentorship turns into dependency. Financial literacy turns into fear. But with faith, all the other gears stay aligned. If faith doesn’t replace the work, it sanctifies it. It reminds you why you’re writing in the first place. I just think that is just like wow.
SPEAKER 06 :
Wow. Yeah. Okay. Okay. What else stood out to you in the book?
SPEAKER 05 :
I think it was the point of it was an interesting story about life, because they give you, through the three brothers, three different approaches to how you would pretend, how people might entertain life. The fast lane, the fast, you know, the pad, and the only going things because you want money and cars and things, and you’ve got one who’s a slow and steady. So it reminded me of the, remember the story in the Bible of the father who divides his home and gives the three boys or the three, yeah, it was the three boys at the time of here are the things you could do with it. And the story really mirrors that parable of Christ. It’s a, here are the options you could not, there are no true right answers or true wrong answers, but the idea is, do you keep it to yourself? Do you hide it under a mattress? Do you build it? Do you sow the seeds? Do you share it with the world and any combination thereof? And they’re trying to show the biblical foundation of faith, regardless of how you establish your faith to be. to show the being a good steward of humanity, being a good human and learning the lessons. So you’re just not going to hide it in your mattress. You’re going to share it with those and you’re going to build a legacy of service, which is the point, not in servitude, but in service to others. And it was just magical to be able to look at live stories as depicted in the book. And they lead you to believe, you know, I guess the brothers are probably in their mid thirties, I guess. to see the paths that many people have traveled so you can identify with at least one of those. And if not, you’ll identify with them, people that you know in your family, in your sphere of influence. So it made it very personable, very personal, very connected, and very instrumental of where you are in the process, knowing, and in my vernacular would be, well, the fat lady hasn’t sung yet, so what are you going to do about it? And it’s all about not just knowing but taking action.
SPEAKER 06 :
I love reading the reviews of some of these books, and this person says, and they loved reading it like you did. You savored it. It says, I love how they take financial literacy principles and wrap it into a story. Instead of writing a how-to book like an instruction manual, they put it into a story like you mentioned. I believe that kids and teens can enjoy the lessons taught in Old Wealth, New Wealth, True Wealth, especially if they come from communities where subjects covered are not talked about at home, at school, and just general hangout areas. What a lovely book. Okay, you know with our kids, we’ve talked about investing and money and being wise with your money on numerous occasions. And one thing I try to teach is about being – frugal or thrifty, but not cheap. And so they see me, my kids see me leave really good tips for the server. They see me invest money and not be cheap about their sports equipment and the shoes that they need for sports and joining expensive club teams and always leaving a tip for the maid when we stay in a hotel or an Airbnb or whatever it may be. And they see me being generous with charities and things that are important to us. However, they never see me go to Starbucks. Well, rarely. They don’t see me order drinks at dinner. I usually get water. They don’t see me generally order desserts at dinner. I generally, you know, just have ice cream at home or whatever. So they see me being thrifty and maybe conservative on myself with no facials, no massages. I do my own hair. I do my own nails. You know, I go to great clips. You know, like they see me save money. on those things, but they see me being generous to others. And our friend Jim Stovall said he makes money to give it away. They’ve given away so many scholarships. It’s mind-blowing.
SPEAKER 05 :
Well, and I think that was also an instructional technique in the book. It’s not just telling a story, but showing how to structure dinner conversation. Many of the conversations I had around the fire, for example, because this takes place on a working cowboy ranch, And they’re all sitting in front of the fire processing the lessons that they’ve learned and to teach you techniques for how to talk about money. Because sometimes it’s not the lack of talking about money. They just don’t know how. It’s not always a comfortable topic, particularly if you are in a difficult place. And so part of these stories are handling those questions. or taking on those difficult conversations and knowing, because there are some times when people in the book aren’t ready to talk about things yet. They have to get to a place where they have vocabulary to talk about it. They have skills to talk about. They have knowledge to talk about it. And it’s really about having those conversations by mentors through mentors at strategic times. And many of those times are around the dinner table or in front of the fireplace and not watching TV or talking about the latest, you know, designing housewives or whatever the Kardashian stuff is. I never get into it.
SPEAKER 06 :
Yeah, I don’t see you, Dr. Cheryl, watching reality TV.
SPEAKER 05 :
I don’t see you. No, it’s not my thing because I’m not about the sensationalism that comes out of the drama. I’m about the service of going, I don’t want the drama to begin with. And so when you have these adult conversational, these loving conversations, these caring conversations, I have to have that with my students. And some of them are very difficult because they’re not completing the milestones that they’re getting. They’re not getting to where they have even sometimes about money when they can’t afford to finish school or whatever. or to go forward, you know those are conversations that in previous generations, we don’t talk about health. I remember my grandmother’s generation, they whispered if somebody had cancer, right? You didn’t talk about those things. You didn’t talk about divorce. You didn’t talk about money. You didn’t talk about sex and politics and a few other taboo topics that need to be talked about because if you grew up like I did, not having skills to talk about those conversations, they became and for some still are a little bit awkward because they just don’t have practice in those skill sets.
SPEAKER 06 :
Now, in terms of what you learned from the book, what you took away, what are some of the most important takeaways that you would want other people to know about?
SPEAKER 05 :
Legacy. Legacy and mentorship. The idea is that you don’t have to have all the answers. Even if you are the leader, the boss, the head of the family, the mom, the dad, you don’t have to have all the answers. Look to those who have come before you. and inquire about the answers that they have found, the stories they can share. We call it experience by proxy. I don’t have all the answers, but I am connected to a wealth of people who might. Through their stories, I don’t ever go into a situation typically cold. I might not go into direct experience for me, but I have people that have helped me. For example, in my divorces, it was not an easy thing in this very competitive environment everybody who has the most toys wins at the end, very argumentative, very high drama, very high stress. I learned from women ahead of me that reduced that stress for me based on the horrible stories that they had. So they didn’t take mine away, but they reduced it and taught me some things that I will be forever grateful that made it easier on me. And that’s what I think legacy is about.
SPEAKER 06 :
And I know things have really changed for women in that we’re more in control of our finances and, you know, we have more of a grasp on that. I mean, definitely one of the things that I’m teaching my kids is to be self-sufficient financially, but to find someone hopefully who is equally yoked. and so that they find someone who also is into education and someone that is also interested in investing. Because I think one of the surefire ways to destroy a marriage is if you’re a saver and they’re a spender, or you’re working hard and earning the money and they’re just not as into their career or not as into providing for the family. I really have drilled that into my kids to find someone. Obviously, you may find someone that’s not the same education level. Maybe my kid marries a plumber. I’m fine with that as long as they both have similar ideas about the legacy that they’re going to leave. So, again, for everyone, we’ll get Dr. Cheryl’s website. And the book is Old Wealth, New Wealth, True Wealth, Beyond Dollars, The New Currency of Legacy by Nathan Barkacy and Sharon Lecter that she met at her Secret Knock Conference in San Diego. And your website, my friend?
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Centennials, tuned to Colorado’s mighty 670 KLTT.
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Well, if you were just joining us, this is Angie Austin with the good news. Well, every May, millions of Americans plan their big moves. And every year, thousands of victims fall to these scams, these moving scams. Many of my friends have very well-educated, successful, professional people. And as peak moving season approaches, the U.S. Department of Transportation’s Federal Motor Carrier Safety Amendment is renewing its push to get free practical resources into our hands before we sign a contract or before we hand over the money. Through its Protect Your Move campaign, FMCSA helps us understand our rights, helps us spot the red flags, and navigate every stage of an interstate move. Joining us is an expert in this area, Ryan Snyder, Director of Governmental and Legislative Affairs for the Federal Motor Safety Administration. Administration, or FMCSA. Welcome, Ryan. Hey, good morning, Angie. Glad to be with you. Oh, so let’s start with what your Protect Your Move campaign is and why the FMCSA is highlighting this during National Moving Month, because I want to get into some of these scams, because they are unbelievable. So let’s start with the campaign.
SPEAKER 04 :
Yes, ma’am. It is unbelievable. Unfortunately, it happens far too often. So here at FMCSA, Our primary mission is safety focused, but we also want to help Americans prepare for their move, especially when they’re moving their homes across state lines. And we look to catch any companies who are looking to scam them while doing so, which is why under leadership of President Trump, Transportation Secretary Sean Duffy and FMCSA Administrator Derek Bars, we’re increasing our efforts to crack down on moving scams. who are looking to extort Americans by either demanding additional fees than what they initially agreed upon, holding their homes hostage for more money, or simply not complying with federal safety standards. So we’re kicking off Operation Protect Your Move during National Moving Month to help Educate Americans on what to look out for this summer as we go into peak moving season.
SPEAKER 06 :
You know, some of my radio and TV friends, when they moved across country, they literally like their stuff was gone and they thought it was some scam where they were selling their items because they had paid some money in advance. And they started doing some research and they actually located a warehouse where a lot of other people’s goods were being stored until they could sell them or whatever. And it was kind of like an almost like mobstery kind of like movement. It wasn’t just like a couple of guys. It was this well-coordinated, huge.
SPEAKER 04 :
It’s organized, unfortunately, sometimes. There are some red flags that even the smartest and most educated folks can sometimes forget about. But some of these are common sense. Other things that maybe it’s not so much common sense and maybe more organized crimes are using more intricate techniques to help scam you out of your entire livelihood. It’s scary stuff.
SPEAKER 06 :
Yeah. And they’re like holding you hostage because they have all the contents of your home. But what are you going to do? It’s so expensive to replace and you need it to live your life. So let’s talk about, you know, it’s these scams spike now because so many people move during spring and summer. What are some of the biggest red flags that you think we should watch for when we’re hiring a moving company? And then I wanted to get to get into the steps we can take. to secure ourselves or protect ourselves before we sign any contract. So let’s start with the red flags.
SPEAKER 04 :
Yeah, absolutely. Some of the most common red flags that we hear about is moving companies will give a quote before even understanding what is being moved. These are common questions like, how many rooms are we looking to move? What’s the size of the house? Are there any stairs that we should be aware of? Common moving things that every mover should be asking folks. And if they’re not, it’s a pretty big red flag. Another one is moving companies saying, hey, we’re not going to give you a quote until we put all of your stuff on our truck. So until we have all of your stuff in our possession, we’re not going to tell you how much it costs. And we see it far too often. And even some less common things like not having local addresses. In your area, an example, Angie, my mom was moving across the country last summer, and she gave me the address and the website, and the website had an address for the moving company, but the address on Google led to a flower shop. So it’s even things like not having proper information on their website or even U.S. DOT information. So at FMCSA, we require every truck that crosses state lines to be registered with FMCSA. And they have a unique identifier number to call the USDOT number. And if moving companies aren’t willing to share what their USDOT number is with you before you’re taking a move and signing a contract, that’s a pretty big red flag because they should have that readily available.
SPEAKER 06 :
Oh, explain that number again. What is that number? I’ve never even heard of it.
SPEAKER 04 :
Yeah, so it’s called a U.S. DOT number, and carriers who cross state lines hauling goods for other folks are required by federal law to have U.S. DOT numbers. And part of that registration system with us here at the U.S. DOT, we also verify that they have insurance. that they’re properly insured to carry your stuff across state lines. So when your listeners are asking moving companies some basic questions about their practices, what their quotes are, they should also ask, hey, what’s your USDOT number? And they should readily have that available because on our website, protectyourmove.gov, you can actually go and look up that USDOT number to see if they are registered with FMCSA and see the number of complaints registered that they might have had publicly filed against them.
SPEAKER 06 :
Oh, that’s good, because, you know, we usually would look up on, like, Google, you know, and we look up, you know, the Google reviews, but a lot of those can be fakes, but what you’re talking about cannot be faked. Okay, so we went through a few of the red flags. Let’s talk about, and even your own mother, you know, called you and said, like, hey, is this legit? And you’re like, I don’t think so. So let’s talk about some of the moving scams that are the most common. And then I want you to walk us through like a typical scam scenario. So what are some of the most common ones, Ryan?
SPEAKER 04 :
Yeah, so some of the most common ones are, hey, it’s going to be this amount of money and you need to pay this deposit. But then once you get there, hey, it’s going to be more because you forgot things. Or, hey, we needed to hire an extra person. Okay, now that we got all your stuff on our truck, it’s actually going to be an additional $5,000, $10,000 because, you know, some bogus reason. And then by the time you get to your final destination, you’ve already gone through all this hassle. Angie, you probably, I’m sure you’ve moved before. You know how stressful moving is. By the time you get to your house, you just want to be done. And then they tack on an additional cost. So if the price keeps on increasing every step of the way, that’s a pretty big thing to look out for. You’re probably on the other side of a scam. Or, unfortunately, we see this happen time and time again. Hey, we’ve gotten all your stuff to the final destination. Yep, it’s still going to be the $10,000 that we initially agreed upon. But you know what? Until you pay us an additional $5,000, we’re not going to release your stuff to you. That’s what we call a hostage load, and that’s unfortunately another very common scam that we see in the industry.
SPEAKER 06 :
And with the hostage load, like you don’t even know where it is, so there’s no way for you to get your stuff back. It’s like when somebody hijacks like a – computer system for like a big hospital or something it’s like you’re so over the barrel that you feel like you have to pay or you’ll never see your stuff again and then you weigh like wow what would it cost to replace all this stuff and what will it cost you know to pay them to get my stuff And then I also hear about people’s stuff not being taken care of because maybe they’re not even like a really professional moving company. They’re a bunch of scam artists, so they’re making money off you already. So there’s no care really for your items.
SPEAKER 04 :
That’s right. That’s right. And every American is entitled to a list of key rights during the moving company. And one of those is a listed detailed list of inventory items. of all your belongings that also should note the condition before it is placed on the truck. So you should have a list of everything that you’re asking that moving company to move, as well as how well it is maintained before it gets placed on the truck, so that in the event that it’s not properly taken care of during the move, you will at least have that documentation. You’re also entitled to a bunch of other rights. Some information, official documents from the moving company. It’s a booklet called Your Rights and Your Responsibilities When You Move, which helps outline arbitration programs, complaint procedures, so that Americans understand the process before anything is signed. Also entitled to a written estimate. Sometimes this is a fixed price of, hey, this is how much it’s going to cost to move from Los Angeles to Denver. Or maybe it’s a non-binding to exceed. So here’s a price we’re never going to go over this cost amount. You’re entitled to that. You’re also entitled to a bill of lading, which includes pickup delivery, dates and times, how the moving company prices their terms. The inventory of items, which we’ve already discussed. They’re also entitled to timely service, liability coverage, and a right to file complaints. So if you do find yourself on the unfortunate side of a scam or a hostage situation, we have our National Consumer Complaint Database, which you can find on protectormove.gov. that can file a complaint against these companies with FMCSA. And we have some legal teams who can help work with attorney general’s offices and consumer protection offices to help bite you out of this situation that you might find yourself in.
SPEAKER 06 :
Wow. And that’s at protectyourmove.gov. All right. So, so many things we’re entitled to. And then what do you, okay, so we come up with the list, right? But do you also recommend taking pictures and videos? Like what else do you recommend we do to make sure that we get things back in the same condition or we can prove that they were in better condition when they left our house?
SPEAKER 04 :
Yeah, absolutely. Pictures are always helpful. Videos are always helpful. Doing due diligence, getting a few different quotes. If it sounds too good to be true, it likely is. So just do some research and protect your family.
SPEAKER 06 :
How can we verify that a mover is properly registered with FMCSA? And I know there’s brokers too, like companies that get the moving firm for you or whatever. So how do we verify that they’re registered with FMCSA? Okay.
SPEAKER 04 :
Yeah, so on Protect Your Move, other than the checklist, helpful videos, and red flags, we do have a database on protectyourmove.gov where you can put in the U.S. DOT number or even the company name to verify that they are registered with FMCSA. They’re registered with FMCSA. We at least can verify that they are a legitimate company. And as far as part of that database, you can also see the number of complaints as well. So it is an extremely helpful tool, and I recommend everybody, if you’re moving this summer or any time over the next year or near future, to visit protectyourmove.gov.
SPEAKER 06 :
So if right now someone’s getting like a sudden price increase or their belongings are being held hostage, is that where they go, protectyourmove.gov? What should they do?
SPEAKER 04 :
Yep, protectyourmove.gov, and then there will be a link on there for the National Consumer Complaint Database. And you can file a complaint there on the National Consumer Complaint Database, and someone from our team will help work things out.
SPEAKER 06 :
And then lastly, you want to just kind of review like some of the free tools and the resources on protectyourmove.gov because it sounds like we could go there for pretty much everything to get advice on who to use, to find out if it’s, you know, reviews, to, you know, make complaints, to try to get help, you know, to get our stuff back or, you know, if we’re getting, you know, ripped off. Can you talk about some of the free tools and resources there?
SPEAKER 04 :
Yeah, absolutely. So on protectormove.gov, there’s moving checklists, whether it’s a checklist that you need to, you should probably make sure that you complete while you move. Five steps to selecting a mover. Tips for a successful move. There’s also moving versus brokers. A lot of times folks will think they’re hiring a moving company, but they’re actually hiring a broker, which is a company that farms out the moving services to an actual carrier. So, some information on the differences there. But there’s also some tips on best practices, and how you file a complaint. So if you are at the other end of a scam, this is how you file a complaint, and this is what steps you need to do to ensure that you get your stuff back.
SPEAKER 06 :
Oh, thank you so much, Ryan. I didn’t know the majority of this information, so really appreciate your expertise. ProtectYourMove.gov. Thank you.
SPEAKER 04 :
Thank you, Angie. I appreciate the time, and be safe out there.
SPEAKER 01 :
Thank you. Thank you for listening to The Good News with Angie Austin on AM670 KLTT.
