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By tomvollkommer
July 13, 2016

Wayne “Butch” Gilliam and Mike “Rooster” McConaughey of CNBC’s reality show West Texas Investors Club struck it rich with a combination of making sound, disciplined investments along with calculated gambles in the oil industry. They sat down to offer some money management advice that they best money management decisions that they have learned along the way. On their show, Gilliam and McConaughey listen to pitches from entrepreneurs hoping that the pair will invest in their business. One key element of their advice: Be careful about delegating management of your own money.

West Texas Investors Club airs Tuesday nights at 10 p.m. Eastern/Pacific time on CNBC.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

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