My Son Is Using Tennis Shoes As Investments
HTML-код
- Опубликовано: 4 дек 2021
- My Son Is Using Tennis Shoes As Investments
Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3hc6Pgt
Visit the Dave Ramsey store today for resources to help you take control of your money! goo.gl/gEv6Tj
The new Borrowed Future uncovers the dark side of the student loan industry and exposes how the system is built to work against you.
Watch Now: bit.ly/3j9FOLl
Did you miss the latest Ramsey Show episode? Don’t worry-we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: ruclips.net/user/TheRamseySh...
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
ruclips.net/user/TheRamseySh...
• The Ramsey Show (Full Episodes): ruclips.net/user/TheRamseySh...
• The Dr. John Delony Show: ruclips.net/user/JohnDelony?...
• The Rachel Cruze Show: ruclips.net/user/RachelCr...
• The Ken Coleman Show: ruclips.net/user/TheKenColem...
• The Christy Wright Show: ruclips.net/user/ChristyWrig...
• EntreLeadership: ruclips.net/user/entreleader...
Dave nailed it, she doesn't have a problem with her son's business, she has a problem with not being able to control her son anymore.
The devouring mother.
Well she is a woman.
@@djpuplex what does that have to do with her son’s problem?
Don’t say this, she’s trying not to control him + Dave agree with her about that he is putting much money to invest
@@khalid.6540 With limited sneakers you have to buy them as they are available. Not like a car where you find the color and model you want. When Nike releases new Jordan’s you have to buy them then, otherwise you don’t make the profit. It’s not like a different business where you keep low inventory because you can’t just order what you want when your supply gets low.
Let the son do this. He has figured out how to make money for himself without needing to work for someone else. He is not doing anything illegal. He's ahead of the curve.
IRS has joined the chat...
He's not "investing" in shoes, he's purchasing inventory for his business. Let him do his thing.
In cash no less!
Same thing. Inventory is an investment
I can tell she doesn't really understand her son that much if she's still calling them tennis shoes
Lolll
😂😂😂 couldn’t agree more
Then what are they?
@@webfreakz sneakers 👟
@@webfreakz kicks
Let it go, Mama Kathy. He's a 24yo, self-sufficient, and entrepreneurial adult.
On a practical level, a 20% commission is an executive-level margin. You will not find any 24yo in sales at a company making 20% on their contracts.
Treating him like a child won't make you relevant again to him. Start talking to him like an exec, like a professional. Make him a proposal that will help him improve his business.
Otherwise, you're only going to create an unnecessary divide between you.
Instead of beating up on her son she should be INCREDIBLY proud. Having a kid in his 20s today with the drive like it sounds like he does seems to be rare!
she isnt beating up on him she is trying to help him
@@jacob_1866she’s trying to change his whole life cause she doesn’t agree with it so she’s beating him up
It's not your problem lady. He's an adult let him live his life. He doesn't even live with you.
I like Dave's answer better.
She’s a mother, she wants the best for him.
She doesn’t understand the sneaker business so it’s hard for her to understand how well he’s doing. But that doesn’t negate the fact that he is her son and she will ALWAYS be concerned for his well being and wants to make sure he’s on the right path.
The son needs to stop telling his mom his business and live his own life. She needs to stop trying to control this grown man.
Hey, the young man is not just sitting around, spaced out on video games or whatever. He’s hustling. This sneaker thing may work out, may not, but take pride in his effort!!
He’s young enough to take a calculated risk, and if it fails, he can try something else; however, I agree with Dave’s advice regarding NOT opening a brick and mortar store. So glad that Dave and John praised this guy’s drive to create something “out of air”.
I made some money of shoes when I was 14-17 I think like 1000$ and got to wear cool shoes all the time but there is a time where u either in the game or out the game
The young man is smart.. the shoes have a limited drop for 250-300 and sell out within minutes resale spikes up hundreds over night
She is upset because he is making money hustling and not grinding his life away at a job he hates.
She’s mad he’s making more money
That and she can’t control him.
Yyeess
If he’s not doing what she wants he must be doing something wrong. That’s what she wants.
Facts
Wha kid saved up 100k doing is job and selling shoes? Dang, just let him do his thing - hes doing something right!
exactly and has enough to put 10k and could have afforded the rest of a 30 k car, most people his age aren't even working full time by that age.
But shes not in full control of him. She just can't handle that this world doesn't revolve around her
The way she kept on saying "tennis shoes" was driving me crazy! She's close to her son, she knows he's in the sneaker head business.
Right 🤣🤣😭
Sneaker is a northern\eastern term. People in 2/3rds of the country would never say that term.
You can buy shoes for $100-$250 and immediately sell them for $400-$1000.
It’s a quick turn around and has been growing for over a decade.
Why do people pay $400-$1000 then?
@@superblump87 Either those people can somehow manage to turn around again and sell them for a profit, or they have pride and internal peer pressure and use the shoes as some arbitrary and wrong status symbol. It is like how people who have expensive cars are generally in an expensive car's worth of debt and how there is more student loan debt in the United States than there is USD in existence.
@@superblump87 it’s because of the rarity of the shoe. Lots of companies like Nike, Jordan for example only release a certain amount of a certain shoe so once they are all gone from retail. The value goes up for re sellers
@@superblump87 because people are easily brainwashed to spend couple grand on a rubber shoe that they probably won’t wear and also this is America where capitalism including scalping is beloved
Fact! My friend is a sneaker head and sells them on the side. It’s a really good side hustle for him.
The mother has no say in the kids finances if he's on his own. Dave doesn't understand what she means by "inventory" either. Sneaker head inventory isn't like Walmart inventory. You need to buy the shoes when you see them to make the resale. He's not buying 1000 pairs of new balance and selling 20 dollar pairs lol. Probably has some shoes that are worth 5k+ a pair
I mean i don't like dave but he knows what inventory is. The son is the one suggesting brick and mortar which is a terrible mistake, even more so if every pair is over 5k.
Dave's right. It doesn't have to do with the size of the inventory, it has to do with how much her son paid for the inventory compared to how much he has in savings.
For instance, I would be skeptical if he has any insurance on those shoes, so if a fire breaks out or a flood breaks out and ruins the shoes, he's taken a massive blow to his business because he doesn't have the savings as a backup plan.
It's obvious that the mom just doesn't 'get it' when it comes to her son's business plan. But he is doing some things that are a stupid, risky and wasting money.
I wish she didn't call them tennis shoes 😕
My son makes more money than me at 23 and he won't take my advice. What should I do?
that doesn't mean the son is making all the right decisions. Dave Ramsey went bankruptcy in his 20's, who says you make more $$ makes you right abt every decision in life?
A physical store would almost certainly fail.
In this business I highly doubt it. I think if played right it can take his business to the next level.
@@DMoney505 he wouldn’t have enough inventory to fill in a store or secure shipments if he’s collecting rare shoes in his spare time and flipping them from home. He’d need to find an “in” with an executive of shoe stores to secure a contract to ensure the delivery.
My son makes more money than me and I'm embarrassed. How do I stop him?
Proper title.
lol
The Dad is really just a hater
😂 savage
This lady is describing her son being a capitalist?
Yes that’s dumb. He needs to work a corporate job for someone else and be miserable. And then buy a 200 dollar car and deliver pizzas on the side. I wouldn’t dare want my son to be successful and start his own business.
It seems lots of people make good money with this side hustle.
The sneaker business is very serious!. These people make some serious money on them. She just doesn't understand and wants to control her adult son.
He is running his business in a way that makes some sense honestly. Maybe a bit too much inventory but, he’s got plenty of time to take on risk at this age.
Casey the Spammer strikes again!
@@appleforever6664 yup! Casey the Spammer is back and working on a Sunday!
Sound like scalping hhhhmmm again...... Lol
I hate scalpers.
@@samY-de9dq - Casey the Spammer didn’t watch the entire video before making a comment.
Like some of the other comments have said, this mother is so out of Cahoots with her son business-you can tell that she has no idea what reselling limited edition sneakers are by the fact that she calls them tennis shoes. I do have to agree with Dave in him leveraging less of his money in sneakers and putting more into the bank/stocks.
Sneakers 🤣🤣🤣
This caller needs to get a life. She should stop micromanaging her son and instead nag her husband all the way to Divorce Court.
loll
Casey needs to watch the entire video! Such a spammer!
He sounds like he is doing things partially right. I just wouldn't have bought a new car is all. Good job overall
New money, It happens to everyone when you start doing good and your young. He could have bought a 100k car. At least he kept it somewhat practical!
New car is not the problem, the amount is not catastrophic for him if something goes wrong. It's the fact he wants to open a brick and mortar store that can put him in a much riskier situation than now.
"Tennis" shoes? Caller must be talking about athletic shoes. They're not called tennis shoes any more.
At least hes putting his sole into it !
He still has his business idea all laced up even with him mom treading all over him.
🤣🤣
Wow. So I’m 35. I’ve been selling shoes for years now. I’ve collected almost my whole life. My mom supports me when it’s in front of her family. In private it’s a totally different story. She knows the worth of my sneakers. she just doesn’t see the whole picture. Mothers don’t listen 😂. I do agree. Brick n Mortar is a no go. You need tons of foot traffic. He needs a website if he doesn’t have one. I’m working on mine
Sounds like the son is trying to get away from a controlling mom who doesn’t understand that selling rare and amazing sneakers can actually earn you some good money
She wouldn’t understand since she has never walked in her son’s shoes. I couldn’t help it!
Mom doesn’t get how to mind her business! I used to work at Nike Brand Jordan . He is making money 💰
And not in 100K debt!
@@alinatamashevich3354 troll 😈
I sell thrifted clothes on the side...If I had more room in my shared living situation I would go into the shoe business. All you need is time and an empty garage or closet and you can make six figures!
If he is not living with you and he is making money is no longer your problem.
If you saw a potentially blind man walking toward a cliff, then would you tell him?
@@jeremiahmeade710 except he's not blind and not walking towards a cliff
@@therealdakshina1051 Do you know him well?
@@jeremiahmeade710 No but what does that have to do with what I said. Kid's making bank, I say let him continue
Be proud of him and let him spread his wings and fly. It’s the people that run with their passion that are the most successful. Don’t stifle him just because you’re to afraid to do what he is doing.
Being someone who has sneakers myself, i have recently started selling some of my “tennis shoes” to pay things off. By Christmas, ill only owe on the house.
He’s an adult. Mind your business.
I myself sell shoes on the side making 10-18k a year as a hobby. Instead of of opening a brick and mortar, I’d buy a small warehouse and open and eBay store online and go full time into shoes. I would also start a RUclips channel to advertise my brand and make a name for my self in the shoe game such as Yeezy Busta or Blazendary.
Only issue is lack of diversification. If the shoe business has a small downturn for any reason he might get into a bad spot.
If he’s not asking for financial help from his parents, it’s not any of their business.
I’m there right now! I have a 21 year old and a 19 year old. Dave is right! I had to back off. I was sending them Ramsey videos and Ken Coleman videos to “help” and it was irritating them! So just back off a bit and encourage them when they want it. Way to go Mom, he’s a hardworking young man.
🤣 mom called for advise and Dave is going to send an entrepreneur book.
"I'm old school!"
*completely unable to comprehend the concept of "shoe store"
I love Dave’s response. We sell shoes. It’s a lucrative side hustle. Not my only income source but it’s nice “extra” money and who doesn’t love a little extra money in their pocket?! Just because you don’t understand it and you think it’s just crazy that people buy shoes for these prices, doesn’t mean it’s immediately WRONG. A business is a business. Everyone in my life tells us “wow I can’t believe people love shoes, not me, yadda” but what they don’t see is the fully funded Roth IRAs and being able to cash flow Christmas, vacations, etc. Just my 2c.
Casey the Spammer needs to watch the entire video before making comments!
Took the words out of my mouth. Just because she can't understand the business it's a "bad business" to her
Selling tennis shoes might be the most “dude bro” career of all time 🤣
Makes good money. And collectible Barbies.
The mother has no right to say do this and that w/ HIS money. I think he's already better at money than the mom anyways
When I was in commercial underwriting I wrote an account for a guy who sold sneakers. The guy was around 27 years old and he was making a killing. He had his shop where he kept his inventory and from the pictures I saw some of the rarest sneakers that were out there.
Uncle Dave is so wise 🤔
Finally Dave gives some good advice
Your son is right you keep in the bank emergency fund you don't make a dime by leaving money in a dead institution that bleeds its customers on mortgage or loan payments. Your son is smart good for him!!
In the sneaker resell business, the shoes are more investments than inventory. I would liquidate some for a safety fund.
Commend him for how he has saved, and how he has grown. I wouldn’t agree with him but I’m old. He has to learn for himself.
I would be so proud of this boy. I just had my son this year. I worry about work ethic. I would be happy about this ambition.
Would love to hear a follow-up on this
You can make bank selling shoes if you structure your finances correctly. There is no reason to put money in the bank if you are all about buying and selling. I’ve heard there are millionaires that are cash poor but asset rich
Wow! What's the problem Mom? He just needs a financial advisor who is not Mom.
He is making money and sounds like it's his passion. Good for him.
He is doing what all successful companies do. Money should be reinvested back into the company to grow it.
And no debt!
@@alinatamashevich3354 car payment 20k.
Sounds like he’s investing in famous sneakers, it’s a common thing nowadays for young people. They’re sneakers that can be worth THOUSANDS, not some simple tennis shoes. He’s a sneaker head. At least he’s not doing bad things, he’s trying to make money.
It is alright if he is seeing an exit. If he actually establishes a shop and make a business it is good. He might build a big business
My ex-colleague quit our 9-5 job and does this full time now. Not tennis shoes, but Jordan’s and other designer shoes
@@gmarie3053 I'm sure he's selling nice shoes too, Mom's just calling them tennis shoes lol.
@@safye4 Mom probably wears Keds.
You have to meet people where they are. If this is how he can learn finance/business then that’s a great start!
awesome video!!
Lol, lady, stop “telling him” he doesn’t want to hear it. He’s doing fine, and young enough to learn business lessons the hard way. More than likely, opening a brick and mortar store, will not give him anywhere near 20% return- but that’s his own lesson to learn.
He doesn’t live with you, mind your own business
This son is a great entrepreneur. These oldies don't understand risk in the 20s. Car payment? No ways Loan is 2-4% while he makes 20% in tennis shoes. He's a genious
America NEEDS 100 million more young men like Kathy's son. 😊 ❤
thanks for watchng. got something big to share, leave a msg right away
±𝚕𝟽𝟽𝟺𝟸𝟿𝟻𝟺𝟾𝟹𝟿
If she paused for a moment; she could perhaps grasp that his success is a reflection OF her - not a confrontation WITH her.
Lol tennis shoes? It’s sneakers!
Putting your money in a bank is the dumest thing you could do when interest rates are Zero and inflation is Twenty percent!
He's doing his own thing, and doing quite well at it. I would tell him to keep up the good work! I do have a concern, though. I know a ton of people with side hustles or business ventures similar to this one. And every single one of them is making bank. Not a single failure in the entire group! And that's not sustainable of course. When this boom ends, it's going to catch a lot of people by surprise and they will lose everything.
Good on him for finding a niche. Nothing wrong with running your own business.
This lady highly underestimates the sneaker head game calling them tennis shoes. You can make BANK by flipping Nikes and Jordans. I really don’t understand what the problem is here? This kid saved 120k and you have a problem with it? You clearly have raised a smart son, let him do what he is doing and I will pay him to do it for me too!!
Beautiful answer Dave. Your light is shining bright. Way to lead a mom and son to peace and harmony. It is clear you are Spirit led man of faith.
He's 23 and a grown man stop worrying about your son, it's your fault at this point. What is with these parents calling for grown kids?
My nephew has also made a lot of money selling sneakers.
The way she phrased that he has lived with her for two years but then moved out made it sound like she didn’t like that he was on his own. She comes across as a type a mother-in-law that no woman is good for her son
thanks for watchng. got something big to share, leave a msg right away
±𝚕𝟽𝟽𝟺𝟸𝟿𝟻𝟺𝟾𝟹𝟿
He's a sneaker head. It's not tennis shoes. He's selling sneakers. NIKE, Jordan's, LeBron's, NBA sneakers
I bet this mom is so mad Dave didn't agree with her, her silence spoke volumes, or maybe it was Dave hitting the mute button...
It’s like me buying loads of rare and vintage Apple computers, they’re all going to go up in value one day so I keep buying more when I get the chance. Sounds like a good business.
I think the Tennis Shoes must be "Gazelle Intense" 👟👟😂😂
Great story. I hope he does well. Just needs a few tweaks he will be fine. Cudos for not living at home.
Wow! Classic control-freak mother! Control-freak widowed mothers of sons are a hundred times worse, but that doesn't apply in this case since her husband is still living.
Maybe he wishes he wasn't.
😂
He doesn't trust the banks
The banks 🏦
Gives promissory notes 📝
He has a concept that is working I wish him all the best
Useful.
"We constantly have a battle with him". That's your problem right there 0:27. Stop battling with him.
"I'm old school"? Lady people have been buying and reselling high demand items since before your greatest grandfather was born. Lol
I don’t get the shoe thing, but I know it’s crazy popular. If that’s his profit, it’s obvious this kid has drive.
Mom should be proud, not worried.
I know these sneaker-head people, they're a special breed haha. But there's money in it, this guy is just playing too high-stakes. He's also risking getting robbed, if people know he keeps that much worth of inventory. Otherwise I'd say he should chase this as long as he can.
Instead of supporting her son she’s trying to keep him put. I would’ve motivate him even more.
To the son. Keep doing you. You clearly know what you are doing. I flip sneakers and other things as well on the side and average $10k/mo profit. At my highest this year, I probably had $400k in inventory. Just don’t overextend yourself and continue to work hard and grow your business. Congrats!
Those little laughs and how she responds mean she ain't gonna be letting go.....
He’s a businessman and will be way more successful than she ever could be. Dave is great for being average
Seems like most people don’t understand what’s happening here, he’s more than likely using an AI program to buy up limited sneakers so no one else can buy them at msrp, then reselling them for profit. Which causes people who actually want the shoes to pay 50% more. It’s a shady business and really gross ethically.
The sneaker business is huge. Alot of people, young people are making bank selling sneakers.
Agree with Dave. Kid seems to be a good businessman, but brick-and-mortar is bad idea.
Let's GO!!!!!!! This kid is a hustler!!!!
Kinda feel bad she was hoping Dave would save her and then he was like NOPE ! lol. hope she understood his point tho
Congratulate the boy
Jordans and dunks to da moon!
They're called SNEAKERS!!!!!!!
Right lol
Lol!!!! The majority of the US does not say sneakers. Sounds feminine and girly.
And the problem is what, lady? He's making good money on a side gig, has a decent job, independent. He's not a bum living at home, mooching off mom and dad and playing video games all day.
Chum-Lee's mother calling.