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Charge Forward Podcast
The Charge Forward Podcast: Dedicated to those who choose to Charge Forward into the Storm when hit with challenges. This is what makes them different and has lead to their success. When in doubt.... Charge Forward!
Charge Forward Podcast
🎙️ Part 2: The Truth About Financial Confidence – With Eddie Knight Integrity. Alignment. Real Strategy.
🎙️ Part 2: The Truth About Financial Confidence – With Eddie Knight
Integrity. Alignment. Real Strategy.
In this powerful continuation of our conversation with Eddie Knight, financial advisor at 1847 Financial, we go deeper than rates and returns. Eddie and host Jim Cripps peel back the layers of personal finance to reveal what truly drives financial confidence—and it’s not a product, a rate of return, or a magic bullet.
Instead, it's about alignment, shared ownership, and a long-term strategy built on trust and adaptability.
🧠 In this episode, you'll learn:
✅ Why both spouses MUST be part of the financial conversation
✅ How shared planning transformed Eddie’s own marriage
✅ The “boating, not train track” mindset every investor should adopt
✅ Why understanding > fixing: most clients just want to be heard
✅ The real definition of a win-win advisor relationship
✅ The myth of the "silver bullet" and what to focus on instead
✅ How Eddie serves two key audiences—emerging professionals and pre-retirees—through adaptable, intentional planning
💬 “Most people don’t want you to fix their problems. They just want someone to understand.” – Eddie Knight
This is Part 2 of an eye-opening series that will change the way you think about money, marriage, and long-term financial success.
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It's just people that think that there's a magic bullet. If I do this one thing, financial success is guaranteed. I'm not working another 10 years. I'm wanting to retire soon.
Speaker 2:Well, I really do see what you do for people, very similar to what I do for for businesses, isn't that we're coaches, and? But there is a fine line I mean it's not a fine line, it's a hard line where I can advise you on the pitfalls, I can advise you on what to do next. I can, I can do all those things, but much like Nick Saban is not going to go out on the field and throw the ball or catch the ball, I don't do that for you. Like you tee up, you, you ask all the questions, you, you, you really prescribe much like a doctor, you prescribe a solution, but you can't sign their name. You't make them do it. You, you give them what you believe is is the right thing for them and their future, their family. It's up to them to sign their name, to check the box to, to make it happen yeah, I mean the action.
Speaker 1:uh, that old adage, you know, you can lead a horse to water. I mean, we can show them the biggest lake in the world, but it's up to them to take a drink. And we can back it up with empirical data and research and all these visuals and things of how money really works and how this decision is going to affect the future. But at the end of the day, I mean and you do have clients like that occasionally, I'm sure you've had business clients that you're coaching, I've had clients that I'm coaching at the end of the day they go. I just don't see the point of this and I'm like you know, I'm not here to browbeat you into submission and maybe we're not a good fit for each other.
Speaker 2:That's right.
Speaker 1:And when I learned that lesson, that was a major turning point of oh, I don't have to do business with everybody I meet with because they just may not be a good fit for me. That is such a freeing thing as an advisor that it frees me up to work with the people and gives me more time. I've got a friend who does a lot of coaching with people in the business that I'm in that you know. He says you know you have two jobs, you know number one is being in front of your ideal client and number two is figuring out how to get in front of your ideal client. And if you're spending time with people that your values don't match theirs and they're not coachable if you will, why do I want to take time away from somebody that does want what I'm bringing to the table? And it just changes the whole dynamic of your business to an abundance mindset. Really.
Speaker 2:It does, and so I have to give a big shout out to Colby Jubinville Dr Colby Jubinville for this one, and it's really the way I look at business these days is win-win or no deal 100% so this is either a win-win situation where and this is the way I like to describe it where the most selfish and the most selfless thing that I could possibly do is the same thing.
Speaker 2:That's where I love to operate, and if you're not in front of the right client if they are not it could be that they need you but they're not willing. They haven't had enough pain in their world in order to make that change. They're either not ready or they're not going to be a client because it's not win-win. At that point You're trying to convince them. Them and Dave Ramsey's analogy on that is those convinced against their will are of the same opinion still, and then they're not going to value your efforts or your product.
Speaker 1:So, yeah, yeah, At that point, if you're and that's where being in alignment as an advisor and that's what I would encourage anyone that's thinking of looking for an advisor to work with is find an advisor that lives in congruence with what they preach. There's a lot of advisors out there that they have a great system, they have a great process, but if you ask them to look under the hood of their own stuff, they're like, well, no, that's okay. I'm not saying I'm going to turn over my financial statements, but living the system that I preach to clients again is one of those things that it's a freeing thing, because when they say, well, what do you do in this situation? Well, in my particular situation, which is not yours, so it's not a blanket rule. There's no such thing as blanket rules in my world. I'm doing this and this, but that doesn't necessarily apply to you for these reasons, but the principle the economic principle that I'm basing that decision off of, I do live by it and that's what I'm asking you to do.
Speaker 2:Yep, yep, yeah, absolutely. I know that people can be successful doing it a different way, but when you're living what you're teaching, it just hits different. People know it. It's authentic. It's hard to put it into words what, what the difference is, but they feel it.
Speaker 1:It allows you to tell the story of why you do what you do a lot differently. It moves you from. I mean again, everybody pictures. What's his name? Ned from Groundhog Day, that's chasing him down.
Speaker 1:Hey, can I interest you in buying some life insurance? And he's just trying to sling something at him. It moves you from being that salesman to you're on the same side of the table. You're trying to help them achieve the same kind of confidence that you do in your future, because they're doing the same thing that you're doing. They're not asking you to do anything different. That story you can tell with a lot more confidence because you live it. Yeah, you know. You know.
Speaker 1:Hey, I get worried too when some stuff happens, but I know that I've got these things built into my world where I don't really sleep over it. I know that. You know I've got the as much failure proofing done as possible. Therefore, I can look for the opportunities, and that's what I want you to be able to do too, and that that that preaches so much differently than how you need to buy this because, hey, it's got a great rate of return and it'll do this for you and this for you. Well, what do you? Well, I don't really have that. If they spoke honestly and it's it's a different dynamic.
Speaker 2:Yeah, completely different. So, in that same breath, what is your avatar? What is, what is the perfect client to work with you? Somebody out there is listening right now and they like what you're, what you're saying, but maybe they are the right client, maybe they're not the right client.
Speaker 1:Sure, um, I've really got two I guess you say two segments that I work with. One of them is around my age, 35 to 45 years old, married kids, homeowner. They're typically somewhere in upper management or maybe even a business owner, and they're looking for that next thing. They're doing all the right things, they're reading the books, they may even listen to Dave Ramsey and stuff like that, but they're like there's, there's something that's just not connecting or they're always trying to stay on that. You know what's the, not the next best. They're not fad chasers, but they're. They're looking for that thing to just make them a little bit better, um, where they can have more confidence in what they're doing. Sure, you know, and the second piece of that is really which is really odd for somebody that's, you know, I'm 41. It's really odd for someone to jump all the way up to, like those near retirement ages. That's because people typically relate better to people that are in a very similar situation to them. But I do have quite a few clients that are nearing that retirement stage and they, you know, again, they've done everything by the book that they're supposed to do and now they're going. Okay. Here's this transition from working to not working.
Speaker 1:I was having a conversation with a gentleman just the other day and I said what made you call me? And his statement back to me was well, my guy is still stuck in accumulation world, I'm not working another 10 years, I'm wanting to retire soon. I'm wanting to retire soon. And it's like man, if the guy, if the advisory, other advisors would just slow down for a second and say what is he looking for? And if I'm not that guy, am I big enough to say this isn't my expertise? And but this guy is just like hey, you know, you're fine, you're doing great, you're saving good money, your investments are up, blah, blah, blah, blah. You know, giving him the I don't want to say the Heisman, but just giving him the quick answer to get him off the phone. And the guy's like no, I'm six or eight months out of retirement and I am concerned because of what's going on.
Speaker 2:He wants a deep dive.
Speaker 1:He wants a deep dive. He wants that communication, that relationship that you know. The thing that I've probably, I say, one of those lessons that just kind of sticks with you is most people they don't want you to fix all their problems. They just want you to listen and to know that somebody is understanding. And if there is an opportunity to help them and put them in a better position, great. But most people just want to talk it out with someone that you know maybe has a little more deeper understanding of what's going on, and for them to say hey, I get it, you're worried, it's okay, you know, keep doing what you're doing because you've done these things to put yourself in the right position.
Speaker 2:Yeah, and I see that too. Uh, I've got, I've got a good friend that's mid to late seventies and done a lot of things right, and I think it's one of those things where they're they're not worried that their their money's not going to last long enough anymore. And I got a question that I was not prepared for. He said what can you tell me about Bitcoin? And I said, well, I thought you were in safe, slow growth investments, et cetera. And he said, yep, got plenty of that. Now I'm looking, okay, you know. And so we we talked through, uh, some crypto opportunities. We talked through, uh, private equity. You know those, those types of things. Because his, his opinion is I've got enough in the standard investments. I've had it in there long enough. I'm not worried about it Not lasting. I'm looking for opportunities to to do the next thing, and I wasn't expecting that out of a of a of a mid seventies investor, but you know it was. It was definitely a spirited conversation.
Speaker 1:A hundred percent. And that's the thing of as an advisor you just gotta be willing to listen and and you know when you set the agenda that you might be bringing to the meeting aside, and just you know what's on your mind. And what are we trying to accomplish today? What do you hope I can do for you? Um, and like statements like that, somebody that does have things. It's. They're like well, that's great. I mean, I've got all the basics handled. What else is there? I mean, and it there the the.
Speaker 1:The cool thing is is there's more options than you can imagine out there, but you've got to weigh it against your value system and what you're trying to accomplish and your timelines and all these other things. And there are some do-it-yourselfers out there that do a great job of managing their stuff, but there's a lot of people that they don't have that confidence to step out there. And that's where finding an advisor that you can really connect with and that will slow down and listen to you, I mean. I've told clients I had a client one time say, well, what are you doing? I was like I'm taking detailed notes because I don't want to miss a thing. I haven't started recording meetings because I'm not sure about that. I want to at least have put in some effort, you know, but taking notes down of what their real concerns are.
Speaker 1:I love the discovery process and finding out what makes people tick. That is so much fun because I've never had two similar meetings before. I mean similar, yes, exact, never, not even close. Because when you start asking questions about what was money like before you were growing up, that whoa, and just in my process I'll do like an introductory hey, what are you looking for? That kind of call with one spouse of a couple. I will not have a second meeting. That is a hard line in my practice. Ooh, I love that.
Speaker 1:Because it goes back to something you said early on when we first started talking about being the middleman I don't want that spouse to have the pressure of being the middleman or middlewoman whatever. I don't want them to be stuck in the middle, having to answer questions that we may have talked about but didn't really do a deep dive. And then the other spouse that wasn't there is going well, did they answer this? Did they answer this? What did they say about this? That's unfair on my part. The second piece of that is I want that other spouse to have ownership in it, no matter if I've heard it once, I've heard it a hundred times. Oh well, she or he handles everything and I'm like that's not allowed in my world. If you want to work with me, both of you are going to be here, both of you are going to be engaged and I've had fun interactions with that.
Speaker 1:And when you get to that question what was money like for you growing up you see some interesting answers and you see some people come together. You see some people get a little I don't want to say cold towards each other, but again, it's part of that. As much as they're evaluating me being their guy, I am 100% going to do. I want the responsibility of helping these people achieve as much success as they can. And that because, yeah, if you talk to any advisor that's been around for a few minutes, they've got those clients who are like, man, I wish I'd never brought that. And that's not a derogatory or putting them down as they're not a good client, but it's just they don't match with that advisor and that's such an important piece.
Speaker 2:So you hit on a great point and I want to make sure we expand on that, because this is a topic that comes up in almost every single one of our podcasts it was not designed that way originally, but in just about every single one of them. So I asked this question. So we were talking about including both spouses and the conversation, and that is a hard line. Um, how important in your world has finding the right partner, finding the right spouse, been to your overall success and happiness?
Speaker 1:Ooh, I'm going to do my best not to get a little teary eyed. Um, my spouse I could not be where I'm at today without her support. Um, we've been fortunate and she's been able to turn into the stay-at-home mom. She now serves as my admin on my personal business. Just to kind of clarify, I have two jobs really. One is an advisor my own personal practice and I also do manage a group of 23 advisors.
Speaker 2:And that's there at 1847?
Speaker 1:1847 Financial yep. But I told somebody last night we met a new neighbor that moved in just down the street from us last night. We're standing there and I said, yeah, I said she's the implementer, I'm the pie-in-the-sky visionary. Oh my goodness, this would be cool if we could do this, whether it's something with a church group where we're at or something with business, and she's the nuts and bolts. This is how we're going to put this in motion.
Speaker 1:Um, we dabbled a couple of times with trying to bring her as my admin early on and it just it didn't match up. I was not in the right mindset. You know, neither one of us were Um, but from a professional standpoint I could not do what I do without her. She is the. When I get kicked in the teeth on some days, she's there to go it really wasn't that bad and to walk me through it. Um, and I do that for her some days when things go haywire, Um, but finding someone that is on the same page, that gives you that level of support, that unconditional. You know, man, your day was rough. Here's what I can do to try to make it better and give you something to look forward to at the end of the day. You know, it's such a freeing thing that allows me to focus on what I need to focus on. A freeing thing that allows me to focus on what I need to focus on. She's been at home with the kiddos since 2015. We were able to make that change and that takes such a load off from having to worry about who's taking care of my kids. It's not possible for everybody. I get it. But then from a personal standpoint, aside from the business, um, I fully integrated her into what we're doing as a family financially in 2020, towards the end of 2020.
Speaker 1:Um, the system that we operate in our firm operates off a financial model that really gives people visibility. So in an ideal world, you want to review that model once a year, twice a year, whatever your cadence is. I, as a practitioner, went to my managing principal and we actually kind of approached each other at the same time and said, hey, when's the last time my model was reviewed by someone other than myself? And I went sure, I'd be happy to sit down with you. And then I walked around. What did I just do? I just agreed to turn to open my books, to get um, as a friend of mine likes to say all the time to get financially undressed in front of my boss, who's a practitioner of the same system that I use, sure, and immediately went into like a small panic attack because it's like, oh gracious, what have I done? Oh, I don't know if I like this anymore. And I said, well, if I'm going to do this, I'm bringing, I'm bringing Belinda with me.
Speaker 2:Yeah.
Speaker 1:And I told her and she's like you know it's going to be, y'all are going to be talking to each other as financial, professional people and I'm just you know, I'm not a client I was like, yes, you are. I was like it's, and I need you to be on the same page. And she never disagreed with me, but she reluctantly agreed yes, I'll step on, so into 2020, we're all in Zoom world and she slides into the Zoom meeting right next to me and we walk through our model and as we hang up the call, she goes I'm so sorry, I went. What are you sorry for? She said, because I've left this all on your plate. I've trusted you, as I should, but I've thrown all this responsibility on you and that's not fair and I went.
Speaker 1:You know that right, there is exactly why I will not hold a second or a third or fourth meeting with just one of the spouses, because a lot of times that, oh, they handle everything. That is such an unfair thing to that other spouse to throw that responsibility on them, because if they're working a full-time job and they're making all those financial decisions, oh, they're the breadwinner, yada, yada, yada. Whatever. You know, all the excuses are. That is such a stressor, speaking from someone who's done it before- Sure.
Speaker 1:And, if anything, it has made us even. You know, Belinda and I are so much closer now and on the same page Like we. You know, it's such a unifying thing. I think I mentioned it one of the times we talked before. So many people throw that money. Oh, it's a bad, that's a bad thing. It's the love of money, that's the biblical way to put it, the love of money, the thing in our line of business if you're not, if I can't get spouses on the same page money is one of those areas that so many vices can find their way into. That can destroy a marriage Absolutely, and I've seen it happen with. I've seen, I've seen clients get right to the edge of they don't know how to manage money. I'm done and have to go hold. Whoa, I mean, I've had a meeting like that in my office before.
Speaker 2:This is a team sport.
Speaker 1:This is a team sport. I'm not. I will fire you as a client if you try to get rid of him and said hey, you need to go talk to a marriage counselor and maybe even help facilitate that connection, because at the end of the day, they're not going to be a good client for me if they don't match who I work with the best. Yeah, and that's the. I was told early on by a retired insurance guy from the American general AIG world and he said you know, sometimes and I'll phrase it how he phrased it he said sometimes you've got to be the insurance man, sometimes you've got to be the counselor, sometimes you've got to be the preacher, sometimes you've got to be all three at the same time. And the meetings that I've had where it got into all those different worlds are the most fun ones and that builds trust and relationships with people because they're like oh, he's not just trying to sell me something.
Speaker 2:Not transactional.
Speaker 1:It's not transactional. This is a contact sport and you're going to be in contact with me a lot.
Speaker 2:Yeah, absolutely no, and I think very similar to you, and I'm equally as lucky in that Emily and I are on the same page, just the same way you and Belinda are. And that doesn't mean that Emily has to know the nitty gritty on every single thing, cause it's not her thing. She, she, she's like I know you got it, nope, nope, we're. We're going to sit down, we're going to look at this and, um, I remember when she got fully on board and it it was. We were early in our marriage and trying to figure that out. And she was.
Speaker 2:She was working at a great medical firm and you know where everybody in the parking lot was driving Maseratis and you know, uh, you know her boss had a $65,000 BMW that she went to, and we're talking about 20 years ago, that she flew to Germany to see it come off the line and then they taught her how to drive it on the racetrack.
Speaker 2:That was her boss, and then it went up from there and my wife at the time was driving a 1998 Accord, so it was a high priority for her that we get a nicer car, and a friend of mine was trading in their car and she was going from a sports car to an SUV and they weren't going to give her much for her. I think it had like 28,000 miles on it. So she offered to sell it to me for exactly what the dealership was going to give her in trade, which was nothing. And I called Emily and she goes, but that would delay paying the house off and for me that was the ding, ding, ding, ding, ding. Oh my gosh, we were on the same page and it's just amazing how much more progress you make when you're on the same page with your spouse.
Speaker 1:A hundred percent. I mean it's, you know I attribute it to if you go all the way back. Yes, you know, the state of Tennessee does this great thing where they give you a little discount on your marriage license if you get premarital counseling. And I mean, and it started back that early that I mean it started before that. But you know, we took the time to go through and sit down and try to be as much on the same page. Yes, are you Well? No, are you ever going to be completely on the same page with everything? No, because we're all human beings, we're all imperfect and we all have the things that. You know the switches are a little different on everybody.
Speaker 2:And as guys, we like things with motors just I just it's still.
Speaker 1:but I will say that I've married someone that that has an appreciation for that growl just as much as I do Almost. I did good. I did good. I outkicked my coverage by a long shot.
Speaker 2:Oh, I think we both did. I think we're both, uh, which is probably why we've been in sales. Uh, you know, it could be. It could be. That's right. Um, you know, the other piece to that that I think we would be doing a disservice if we didn't acknowledge is the amount of stress that is removed from a situation, that is removed from a family, that is removed from raising kids, that is removed from a marriage, when you are on the same page and you're not outspending what you're earning. It just removes a lot of the things that people argue about what you're earning. It just removes a lot of the things that people argue about.
Speaker 1:It does. I mean it goes back to communication. I mean, the money itself is not really the problem, it's the fact that they're not communicating. If they're not communicating about money, there's a very high likelihood that there's other things they're not communicating about, or at least not communicating well about. I mean and again I mean it goes back to a biblical principle a house divided against itself cannot stand.
Speaker 1:That's right, you know, and you know. I feel blessed every day that I've got somebody. That is. Are we 100% lockstep every single day? No, but if our steps are off, it's by millimeters, not miles, Yep.
Speaker 2:Absolutely. Uh well, again, thank you for sharing that and a big shout out to Ms Belinda. Thank you for for keeping this guy straight and thank you to my wife for the same. Um, what do you see as a big misconception out there? That people just believe this myth, or they believe this untruth that you often have to break?
Speaker 1:Really it goes back to two things Chasing high rates of return, trying to time the market, that sort of thing. It may work a couple of times, but eventually you get bit. And how much you get bit depends on a lot of different factors. And people are like oh yeah, well, warren Buffett does this. Well, warren Buffett's got a little bit more money than myself and you and the state of Tennessee combined, maybe oh yeah, and the state of Tennessee combined maybe oh yeah, but you know it's so.
Speaker 1:Chasing rates of return and the second one kind of goes right with it is just people that think that there's a magic bullet. They think that there's a product out there, if you will, whether it's an investment or it's an insurance policy or whatever, that if I do this one thing, financial success is guaranteed. That just does not exist, unfortunately. If it did, I wouldn't be in the line of work that I'm in, and so would the thousands upon thousands of other individuals that are licensed to do the same thing that we do. There's no magic bullet out there, no matter how cool it looks. Nothing fixes it all.
Speaker 2:And there's no such thing as one size fits all when you're talking about a financial strategy.
Speaker 1:You know I use the analogy all the time of you know if you're going to build a, especially if it's my ideal client and they have children it's like if you're going to build a tree house, you know you can buy Makita. You can buy DeWalt. You can buy any number Milwaukee you can buy Makita, you can buy DeWalt. You can buy any number Milwaukee. You can buy any number of different brands of tools and you can buy your lumber from 30 different places and all the different parts.
Speaker 1:But it matters how you put it all together, as to how long it's going to stand and not fall down or risk your. Are you going to be going to the emergency room or not with your kid because you put it together wrong? I mean that's. There's financial tools for everything out there. Some of them are really great and some of them may have a little more flash to them than what's really there. Um, and if you're not in it every day and really looking out for your client's best interest, and in this business sometimes it can be hard to distinguish the flash from the legit stuff.
Speaker 2:Yeah, In line with your comment about the tree house, what are some principles or what are some things that you think are just paramount to someone that's really looking at their family tree and going? I'm here not just for myself and my wife, but for generational wealth.
Speaker 1:Sure. Again, it goes back to keeping things using products for what they were designed to do. Insurance can play a part in that. Certain types of accounts, when it comes to investing, can aid in that.
Speaker 1:One of the things that we've really, in our organization, we've really started trying to do is involving um, you know that legal perspective, because there's a lot of things and, trust me, I'm not a lawyer, I don't want to be, you know um, but there's trust work and things that can be done to preserve assets. So it's how do you put all those things together and make it the most, Because it doesn't necessarily mean spending more money than you can imagine Sometimes. It's about how you put the puzzle together to get it lined up and it will actually save you money, both from a tax perspective and a generational standpoint. But I mean, in our line of business, you look at the infamous two families that were very similar. You look at the Vanderbilts and the Rockefellers. Thank you for filling that blank in there. You look at those two families that are very similar but very different outcomes because of the way they tried to approach the situation.
Speaker 2:Well, I feel like, in order to do that properly, you have to take a step back, kind of zoom out from the situation, Not where I'm at today, not looking 20 years down the road, but look, look wider and go. How do we do this for the next hundred years, the next 500 years or whatever that looks like, and the landscape is going to change. But you have to. You basically have to put into your equation all the things that you know today and I think people are looking to. They're looking to check the box like oh, investments are taken care of, we're done. To check the box like oh, investments are taken care of, we're done. No, this is one of those things that evolves with tax codes, with legislation, with new products that come into the space. That's why that quarterly or at least once a year checkup with your advisor to make sure we're still aligned. Are we still in the interstate, cruising at 70 miles an hour, or have we had a flat tire? We just haven't pulled over yet.
Speaker 1:Yeah, and the other side of that you know from an advisor perspective is we have to be learning, really learned, especially in the last decade or so, is that?
Speaker 2:if you're not learning.
Speaker 1:you're becoming irrelevant so fast because products are changing, legislation is changing. I mean, you look at the retirement landscape with all this, you know secure act and the second and maybe even third and rendition of that. And what's this stuff? I hear about the Department of Labor getting involved and it's for most people. They hear the headlines on the news and it just goes right over the top of their head.
Speaker 1:But when you sit down with an advisor and you start looking at, okay, how you know, when you get ready to retire, whether it's five years, 10 years, 20 years from now, is it what's the potential for the landscape to look like?
Speaker 1:It's endless. How are we positioning ourselves to where, regardless of what happens, we can pivot? And again it goes back to that if you take the silver bullet approach and you have all your eggs in one basket, there's a lot of different ways that it could go sideways on you and it's stuff that you don't even have any control over. That's that's the part that you have to. You know there's a lot of people that employ a ton of different products because they it gives them a sense of control in their world and there are things you can do to control some pieces of it, but there's a lot of laws and taxes and economic changes and whatever you know. All those factors are 100% out of your control and the sooner you admit that and start building your financial world with that in mind so you can pivot and flex, the faster you can get towards being or feeling like you're on the right track and not always being reactionary to what's going on.
Speaker 2:Yeah Well, and I think that's important because you know, a lot of times the spouse that is taking lead on a situation, especially finances are typically the ones that want control. Like I want to be able to control this, I don't want to be out of control, and the reality is the best way to have control is to understand that you, you can't be in control and that you are, you're tasked with trying to figure out with your advisor on how you play this game, to be the most adaptable possible, so that as the market changes, as legislation changes, as those things that pop up that we can't predict from today's perspective, how do we adapt to those? How do we keep ourselves flexible?
Speaker 1:100%. How do we remain in as much control as we can within reason, while still using the right tools to move in the right direction?
Speaker 2:Yeah, I think of your boat in that regard. So I think about it driving a boat versus being on a train track. The train track is rigid, it's only going to go where the track goes, whereas the boat is a bit more fluid. In that, yeah, you can turn left and it's, it's going to turn, but it's not like you're on a rail and it's, it's exact. The wave is going to, you know, affect that a little bit. The current's going to affect that a little bit. The draft, from the fact that the motor turning you is in the back versus out front, oh, yeah, just go to any boat ramp.
Speaker 1:I mean, if you really want a good bit of entertainment, go to Faith Sanders after Memorial Day weekend and just take a lawn chair, camp chair, whatever, set up on the bank under the tree that's up there, take you a cooler full of some you know chilled refreshments and enjoy the show. And you know that is very true. I've been fortunate to be on the water for a little while. I'm not an expert boat driver, but I've started teaching my oldest a little bit. And you know, the first thing was you know, don't, don't wait till the last minute to term, because this does not turn in a straight line. You know, and it, it, you steer with the back end and it's going to drift. So you've got to look at where you're going and make course corrections to make sure. And and that there's so many analogies between that and the financial side, because if you try to aim straight and people do it all the time you aim straight at the dock and all of a sudden you know there's YouTube channels out there dedicated to people slamming into boat ramps because they don't know what they're doing From a financial standpoint. You know, they look at where they want to get to and they take one look at that little slider. If you've got a 401k through your employer. They look at that little slider there at the bottom that says you're saving this much money and if you get this much rate of return, this is how much money you'll have. And it's like do you read that disclaimer at the bottom? Because that disclaimer says basically that that calculator or that little slider doesn't mean anything because everything can turn sideways on you.
Speaker 1:You know, one of the things that we talk about a lot of times in our firm is you know, average rates, return really don't mean a whole lot. You know, if I told you that, you know I had an investment that I could get you involved with over the next four years that had a 25% average rate of return and I said nothing else there's a lot of people that would jump in and go man, I'm all over that. Oh yeah, but if my initial investment goes from $100,000 to $200,000, back to $100,000, you know, and then maybe even drops, so I could still have a positive average rate of return and lose money, you know. So you have to look at that. And if an advisor is only ever talking about average rates of return.
Speaker 1:It's like, you know, let's tell the whole story. Yeah, not just a snippet. You know let's really help whole story. Yeah, not just a snippet. You know let's, let's really help someone understand what really matters. Because, goodness knows, there's enough noise out there of, hey, this investment's great. There's all kinds of commercials with people, of, hey, you should invest with us. You know, and people look at whatever they show them If it's a great rate of, we've averaged, you know, a 12% rate of return over the last 30 years. You know, okay, that sounds good, but is it real? Yeah, um, and you've got to. You've got to dig into the weeds a little bit for that.
Speaker 2:Sure, Um, well, you, you, you. You talked a little bit there and I'm going to back up, cause you reminded me of um, and I'm going to back up because you reminded me of um.
Speaker 2:I remember distinctly, on my 12th birthday we went fishing. So it was me and my dad, it was my best friend and his dad and my uncle and a cousin. We go to Kentucky Lake, put in there at Paris, and we knew it was supposed to rain. But a significant storm comes up, so everybody's trying to get their boats out. And when I say it's a storm, it is a full blown, it is, it's really coming down and it's coming sideways. Everybody's trying to get their boats out, so everybody's getting drenched. While you know Everybody's trying to get their boats out, so everybody's getting drenched.
Speaker 2:While you know people are trying to get their boats on and my best friend's dad, he takes and he was, you know, been on the water a lot. It took him three or four tries to get on the trailer, pulls the trailer out, brand new, uh Triton, uh boat, um, and then I'm up next and you know dad motions, you know he's back the trailer and he motions. Does he need to jump in? And I was like, no, I got it. And first try, first try, even in that crazy wind, I nail, nail the trailer and boom, we're out. My, my cousin decides he's going to do it as well, well, since you did it, yeah, he's 14 or 15 at the time.
Speaker 2:After about 10 tries he gives up. His dad gets in Seven, eight, nine, ten tries later and I mean it was a tough situation. But I remember we get in the truck and my dad turns to me and I could tell he was just beaming with pride. He's like son, I am proud of the way that you executed that and I forget the exact words, but I mean it was definitely one of those moments where you, you know that your, your dad or your parents are proud of you. Uh, is there a moment in your life that sticks out that either one of your parents you just like comes to mind.
Speaker 1:You're like, oh my gosh, that was that was a good one.
Speaker 2:Oh, or maybe one with your kids where you're like oh, I committed that one to memory.
Speaker 1:Yeah, I mean there's, there's a few things that pop out. You know, my, my, my oldest, is involved with volleyball and there's been games that weren't going right. And you know, go in and do her best and I mean overcome, get people psyched up, and stuff like that. You know you love to see your kiddos step up and be a leader and help pick people back up. That's a trait that she might have inherited from her dad. I love to encourage people. I feed off that.
Speaker 1:But something recent my son was sitting around 4-H project coming up, got to demonstrate something, um, and I don't know what to do. I don't know what to do and I could. And he starts naming stuff that his friends are talking about and I'm like what, do you know how to do that? And he's like no, I don't know how to do that. And I was like what would you say if dad taught you how to do something real quick? I said that I think would fit, because this has to do with you, could make a stretch and bring it to 4-H. And he goes well, what is it? And I was like something you've already been asking me to do. I said and I'm sorry I haven't done it already I said I could teach you how to tie a palmar knot for fishing and he goes oh, that would be great, and a palomar knot for fishing. And he goes, oh, that would be great. And he's like, I think I could do that.
Speaker 1:And you know, struggle gets a little frustrated because everybody, if you've ever tried to tie any kind of fishing knot, you know your fingers all of a sudden get huge, like it's, like, you know, swelled up hot dogs, trying to grab a hold of that tiny little line. And all of a sudden, you know he gets it and he practices and he gets a little fast. The first time it probably took him five minutes to get it tied. Second time, a little faster, and he's like you can tell, he's like, oh, I'm in it now. And you know I didn't know that when he was going to school he had talked to his teacher, said I want to build a PowerPoint presentation on this. So he built this elaborate PowerPoint presentation.
Speaker 1:He figured out how to tie this knot, you know, he showed how not to tie it and, you know, walks home with, you know, a ribbon the other day and says, hey, I get to go do this at the county level now. So you know Ashland City, you know we get to go to 4-H meeting and we get to demonstrate how to tie a palomar knot. But his comment back is now, you know, I don't have to wait on you, dad, to tie the tie, the line. So it's like, ok, he's not only learning it and glad that he's winning something with it, but it's now, hey, when I'm on the boat with you, now I can do it and I don't have to.
Speaker 1:You know that kind of stuff right there where they figure stuff out. You know that kind of stuff right there where they figure stuff out. Those are the pride moments Stepping up in a leadership role, figuring out something that you try to teach them, and then they finally grab a hold of it. That's you know. And then I mean, I know my wife's going to watch this and be like, well, why didn't you bring up?
Speaker 1:Because if she was here, she would you know. She's a much better documenter of everything. She's always got the camera out and I'm thankful for it, because all those big achievements, um, but, uh, but yeah that's cool. They make you proud all the time.
Speaker 2:They do, they do. And I read a quote the other day and it went something to the nature of uh, as a dad, it is our job to teach people that we can't live without, to live without us, and I think that's. That's just the nuts and bolts of being a dad, like that's what we're here to do. We are here to prepare them to, to take care and teach the next generation and be better than us and all the things.
Speaker 1:A hundred percent. You know the, whether it's the. You know the simple lessons of just. You know taking care of your stuff. You know keeping your room clean. I mean, I forget what the speaker's name is. He wrote a book and one of the central themes in his book he's a retired military and it's all about. You know make your bed first thing in the morning. That is the way to start the day, to set the right tempo for you know be in control of your world and have a good mindset and take care of your stuff. And you know it's again going back to the boat. See, you started it with the boat.
Speaker 2:I did.
Speaker 1:But you know we get back to the boat ramp and when my son's with me, you know we get back to the boat ramp. And when my son's with me, you know he jumps out and he grabs a rag and the wipe down and he's cleaning it up. And I've heard the little one say, when she's been out with us a time or two before, and she's you know, my youngest is six now and she says Grady, why are you cleaning the boat? And he's like because we got to take care of it. And I'm like, right there, that's the lesson. I was like because of that, you might get to inherit this someday.
Speaker 2:That's right. That's right. I love it. Um, well, so now we've got a little bit of a fun fun section, ooh, and so everybody knows you know, if they've watched the podcast more than once I'm a bowler and so I like to ask people so if you were putting together a celebrity bowling challenge? The whole point of this was to raise money for charity. You get to pick anybody to be on your team throughout history they can be alive or otherwise who is on your bowling team?
Speaker 1:Hmm, well see, I didn't, I don't know how that I thought that we were talking about, because you mentioned that there will be a bowling question, a bowling team. Well see, I didn't, I don't know how that I thought that we were talking about, cause you mentioned that there will be a bowling question, a bowling team question, and I was thinking um personal, like friends, and there was one. There is one celebrity on it, but I was looking at it from a personal level. Um, the commentator again she's gotten mentioned a dozen times in this would be Valerie I mean can't go wrong with Valerie I mean if you've ever watched one of her nitty-gritty in Ashland City weather reports or whatever else.
Speaker 1:I mean, if you're not laughing at that, I mean come on now. Oh yeah, she plays it up great and does some great color commentary. You know, and I tend to side more. I like to have a good time, so if I'm doing something like that I want to have some entertainment.
Speaker 1:The one famous individual uh that I did meant or that I did want to mention is uh G-Man Gerald Swindle, the, the uh, uh Bassmaster Elite guy. And I was talking to Belinda and she goes why are you going to bring him up? I mean I know he's your hero. And I said he's big on mindset. I mean I've got a shirt or two that I bought from his website. It's like positive mental attitude. That's his big thing which speaks to me. But he, if you've ever it was probably a decade, maybe a little over a decade ago where he did a speech at the Bassmaster Classic and it was the funniest thing, one of the funniest things I've ever heard in my entire life, because he's from I think he's from Jasper, alabama, and he's just a big old redneck. He likes to have fun and he told just one of the most off-the-wall tall tales with visuals and all kinds, and I'm like what in the I mean was rolling by the end of it? I'm like I'm going to go fishing with that dude someday. I don't know how, but I'm going to figure out how to go fishing with him because it would be just I'd be in stitches the whole time Awesome.
Speaker 1:But you know the other individuals. I'll just since I went the more personal route. You know my dad from 30 years ago, cause he was a great bowler. Um, I remember going to the bowling alley with him when I was young. Um, and uh, I don't know if he's still I don't think he still bowls anymore, but he was the man back in the day. Um and then um, actually the two gentlemen that I credit a lot of my success to from a mentor standpoint. One of them is the guy that I have the pleasure of still going to work with every day uh, dwayne Lewis. Um, dwayne Lewis Jr. Um, just from a mindset, and he's hyper competitive. Um, but um, I mean I don't. We've bowled together before when we've went on some trips and stuff, and now you know we're, we're okay, okay, but uh, it'd be a good show.
Speaker 1:And then the other one is another mentor of mine, a gentleman that actually hired me at my first job out of college with that chemical company, sherman Brown, and he, I asked him what did you? Why in the world did I get picked? Because I'm the young fresh out of college dummy that doesn't know anything. And he told me. He said you know how to think. He said the other two guys we were interviewing had 20 and 30 years experience.
Speaker 1:He said they were set in their ways and they didn't know how to innovate and think. He said you're different. He said you actually can unpack a situation and try to put it back together. He said when you went to college. He said you just learned book knowledge. He said your teachers took the time to teach you how to think. And I went and at the time that statement just went. I was like, ah, he just blew me off. And the more I've thought about it I'm like wow, that is. I really appreciate that comment. Yeah, um, but I mean he's a. He's an athlete, he's a heck of a golfer and a big dude. He's a tall individual. I'm sure he could hurl a bowling ball all the way. He'd just be the guy that shot, puts it down there and knocks them down.
Speaker 2:That's right.
Speaker 1:But I don't know celebrities, I mean, I've got those people that I follow and watch.
Speaker 2:Most of them have something to do with fishing but there's just a lot of good people that have good mindsets. When it comes to fishing, yeah, I love it.
Speaker 1:Good deal, um, and then so next to the last question what's the most fun thing you've ever done? Oh, I've done a lot of fun stuff. Um man, that's a tough one. I think the some of the highlights have happened in more recent history. And then there's one that would be a couple years ago Actually two so most recent would be snorkeling. I got the chance to go to Hawaii last year and snorkel. I forget the name of the place now. It's the place that looks like a crescent moon, it's off the coast of Maui and just so much fun. It had been a minute since I'd snorkeled, so I went through the panic. Oh, my goodness, this is real. Like I'm in the water, I'm trying to breathe and it's like, okay, chill out. So that was fun. Zipl in Puerto Rico was fun. Um man, what else? Um, I went on a trip when I was in college with uh. I took it as a short course to Florida for biological research, so we caught and grilled.
Speaker 2:Some people call it spring break.
Speaker 1:Well, this was structured. It had college professors with us, you know. But we caught and grilled a few of them, iguanas, in a park outside of Miami Florida.
Speaker 2:Okay.
Speaker 1:They do taste like chicken. But we also went fossil digging and we did turtle research and we caught snakes and lizards. I tell people all the time I played crocodile hunter for two weeks and it was so much fun. That's cool. I got the chance to come face-to literally like within three inches of a small gator. But that whole trip. I look back on that with extremely fond memories. It was so much fun. I wish I would have done more of that kind of stuff, but it was a ton of fun. And then the other thing that sticks out in my mind is the one time I snuck off um in my mustang. I had when I was in high school and went to the local drag strip for a test and tune thing on sunday. Um, that was. That was fun.
Speaker 2:I do enjoy a quick vehicle okay, so give me a little bit of a rundown. So what your mustang are we talking about? Um?
Speaker 1:it was a 95 mustang gt white um red leather interior. It sounds obnoxious but it was man, I missed that car. It was so much fun and it the guy that actually owned it before me. We bought it used um. The guy that owned it before me was a student at um or an instructor at I forget the name of the uh, the mechanic school because of the. There was some receipts and stuff in there and there was some stuff that evidently had been left in the mailbox or mailbox in the glove box Car was. It wasn't wild but it was not stock. It probably was knocking somewhere around 400 just from the way that it would some of the stuff that it would the some of the stuff that it would do and it was a fun car.
Speaker 1:Um, ton of fun. Um, I miss that car all the time. Um, but it was a. It was a lot of fun.
Speaker 2:I love it, so I you'll like this one then. So four years ago I sold a car I can't replace. Oh, so this was a 1998 Lincoln market with the Cobra supercharger built by the guy at Ford that built the one that, uh, ran the whatever it was. That was the record for the salt flats. And so I actually bought the car, found out he built it that ran the whatever it was. That was the record at Salt Flats. And so I actually bought the car, found out he built it, called him, talked to him. He tried to buy the car back all kinds of things, but he had receipts. The previous owner had receipts in the glove box. It'd run 11.4. Wow, but it was not set. I would have kept it long-term but it only had 19,000 miles on it when 11, four, wow, and it was, but it was not set.
Speaker 1:I would have kept it long-term, but it only had 19,000 miles on it.
Speaker 2:when I sold it, it did not want to go up and down the highway. It was set up to drag. So if you, if you weren't, you know, foot close to the floor, it didn't like it and so it just wasn't very practical. Not that it had to be practical, but uh, it was. It was a fun car.
Speaker 1:Yep, yeah that. Uh, that that drag racing experience. I thought at one point it was going to end in tragedy because right after finishing my second run down the strip and and doing much better than my first run, cause that was my first ever experience doing that Um, I get out of the car and I'm high-fiving a few buddies that were down there and they're like yeah, it was a good run man.
Speaker 1:And I look across and I make eye contact with a gentleman that I went to church with and I went uh-oh, oh, and my buddy goes, what's wrong? And I was like that guy right there, I go to church with him. I will see him at five o'clock this evening and he comes walking around there in a few minutes and he goes hey you done, eddie and I was like, hello, sir, oh he goes, don't worry.
Speaker 1:He's like I'm not going to rat you out. He said he's a car guy. I'm glad you're doing it here and not on the street. And I was like thank you so much. And and my stepdad was like, do what? He didn't tell me that. And I'm like, hey, don't tar and feather him. I'm like I was being stupid, but at least I was being safe, being stupid within reason.
Speaker 2:Oh yeah, oh yeah.
Speaker 1:Well, you know, part of that's just being an adolescent, you know and I still ask my parents from time to time why in the world did you think it was a good idea to let me get that car? Why, why was that a good idea? So?
Speaker 2:yeah, I get it. That's fun. Last question, a bit more serious have you put much thought into how you want to be remembered?
Speaker 1:I the big word and I tell people this all the time. Um, that that asked me something similar. The big word in my world is integrity. Um, me personally, um, I was raised where a yes and a yes and a no is a no. Um, integrity takes time to build. In my line of work there's a lot of people with integrity, but the only ones you ever see on the news and get talked about are the ones that lose it and don't have it anymore. The thread runs deep. Your name means something. The song I proposed to my wife with was Dierks Bentley, my Last Name. I sang it to her. Well, I sang the last few lines of it when he says if you're wondering why I brought you here tonight, integrity and the power of a name means something.
Speaker 2:Words and that's something that words matter.
Speaker 1:I mean it. You know people say they don't. And. And in the world today, in society, it's hey, you know, don't judge me, don't. But there's so much about integrity and having that name, not that I'm somebody, but that when somebody needs to trust in me, they can take you to the bank especially the four people at home 1000%, and that's a lesson that we strive to teach every day. That's right.
Speaker 2:Well, Eddie, thank you so much for joining me in the studio today. It has been fantastic and I love just the conversation, how it unfolds.
Speaker 1:It has been a pleasure. I you know when, when you mentioned this to me, I was like oh, I was like who am I? I said that to Belinda at least 100 times in the last week and she goes be willing to talk about yourself and have confidence. You know, and I appreciate the friendship and relationship that we've got in the short time that we've known each other and absolutely love the chance to come on and spend a few minutes talking, flapping my gums I'm good at that.
Speaker 2:Yeah, Well, how does somebody out there right now that has been watching this program? They have figured out what you're about.
Speaker 1:Sure.
Speaker 2:They've heard our conversation and they're thinking that maybe they need an advisor. Maybe they've got one, Maybe they don't have the right one.
Speaker 1:Maybe they've got one, maybe they don't have the right one, maybe they don't know what they need. How do they work with you? Well, most of the people that I work with now get in contact with me through someone that I've already done business with. I mean, as I said, I manage a team of 23 advisors, so a good chunk of my time is taken up making sure that those guys have what they need for working with their clients and providing you know the solutions that they need. But when it comes to my personal practice, most individuals if not every single one that I work with at this point met me through somebody I was already doing business with.
Speaker 1:So it's a referral type world. You know, you send somebody to talk to me. I'm more than happy to to. You know cause, again, there's a relationship there, um, because I find that the people that I already work with, they know who I work well with and they're not going to send me somebody that's not a match. That makes my, that makes my life easier, because I'm not having to make a decision. Do I bring this guy on, do I not? It makes everybody's lives easier.
Speaker 2:Good deal. I love it. Well, team, you've heard it here on this episode of the Charge Forward podcast. Again, thank you to Mr Eddie Knight for coming on and spending some time with us dispelling some maybe mistruths or misconceptions in the financial and insurance world, as well as kind of painting the picture of what a good financial plan and having advisors looks like and a bit more about him and the integrity that that really is the cornerstone to his identity and how he teaches, leads his family, as well as his team and and many of us. So until next time, we're the charge for podcast. If you'd like to get in touch with Mr Eddie Knight, shoot me a message at chargeforwardsolutionscom. Forward slash podcast and we'll get you connected.
Speaker 2:Until next time, take care, team, is Jim Cripps here with the Charge Forward Podcast? I just want to tell you I love you, I appreciate you listening, I appreciate you for subscribing and sharing the Charge Forward podcast with people you know and you love, because that's what we're here for. We are here to share the amazing stories, the things that people have been through, the ways that they were able to improve their life, so that you can take little nuggets from theirs and help improve your story and be better tomorrow than you were today. I hope that this is the tool you needed at the right time and that you find value in the amazing guests that we bring each and every week. Thanks so much and don't forget new episodes drop every Thursday.