WEBVTT - Going Full CrossFit on Your Finances #590 0:00:00.120 --> 0:00:03.000 Welcome to How the Money. I'm Joel and I am Matt, 0:00:03.000 --> 0:00:06.640 and today we are discussing going full cross fit on 0:00:06.760 --> 0:00:28.680 your finances. That's right, Joel. We actually we're gonna have 0:00:28.720 --> 0:00:31.840 a confession to make. Recently, you and I we both 0:00:31.880 --> 0:00:35.000 have started working out a little bit there mon fashions, 0:00:35.080 --> 0:00:38.720 is that us? I don't remember that way? Remember shot 0:00:38.720 --> 0:00:42.560 in the Dark? U s h r H. I am 0:00:42.560 --> 0:00:45.280 oh Wendy my wife's genre music. I'm more in the 0:00:45.280 --> 0:00:48.040 blue grounds. But yes, I remember saying that in fifth 0:00:48.080 --> 0:00:49.800 grade or we have You and I. Neither of us 0:00:49.840 --> 0:00:53.199 are are yolked or anything like that. We're not like 0:00:53.520 --> 0:00:55.760 beast mode over here. But yes, we have been working 0:00:55.760 --> 0:00:58.040 out regularly, and we're both getting a little bit older, 0:00:58.120 --> 0:01:01.520 and with age comes maybe more of a focus on 0:01:01.760 --> 0:01:04.520 your health. It's not quite as easy as it used 0:01:04.520 --> 0:01:06.640 to be. And through the process of working and I 0:01:06.640 --> 0:01:08.560 think both of us have realized there are so many 0:01:08.600 --> 0:01:12.840 parallels between being healthy with your body, with your physical health, 0:01:12.920 --> 0:01:14.640 and being healthy when it comes to your finances with 0:01:14.680 --> 0:01:16.920 your money. And so we felt that we would be 0:01:16.959 --> 0:01:19.520 doing a disservice to you, our listener, if we didn't 0:01:19.520 --> 0:01:22.160 share some of these really with some of these true 0:01:22.200 --> 0:01:25.000 these some of these nuggets of wisdom that we think 0:01:25.560 --> 0:01:29.280 are applicable from the physical fitness world. Yeah, and you know, 0:01:29.280 --> 0:01:31.800 a lot of people wait to get their bodies in shape, 0:01:31.800 --> 0:01:34.200 tell you know, the middle of their lives, which is 0:01:34.400 --> 0:01:36.080 true for us, but a lot of people wait that 0:01:36.160 --> 0:01:37.840 long to get their money in order to and so 0:01:38.360 --> 0:01:39.959 getting started young. That is one of those things we're 0:01:39.959 --> 0:01:41.479 gonna talking about. But there are a lot of things 0:01:41.480 --> 0:01:43.000 just from the past few months. You and I've been 0:01:43.000 --> 0:01:45.520 really really getting this ramped up over the past few months, 0:01:45.520 --> 0:01:47.639 and we've learned some things and then we think applied 0:01:47.680 --> 0:01:49.760 to money. So we'll talk about that today. But before 0:01:49.760 --> 0:01:51.040 we get to that, Matt, I wanted to mention, I 0:01:51.040 --> 0:01:53.480 want to ask you whether or not I was frugal 0:01:53.520 --> 0:01:55.600 or cheap with a recent purchase. A recent date night 0:01:55.640 --> 0:01:57.360 I took my wife on. You know, we did not 0:01:57.360 --> 0:01:59.680 go to McDonald's. I know that's what you're thinking. No, 0:01:59.800 --> 0:02:01.720 but we we went to see a play at the 0:02:01.720 --> 0:02:05.680 Fox Theater downtown, which was which was lovely. But I 0:02:05.720 --> 0:02:09.800 bought the seats that were quote unquote limited view seats 0:02:10.120 --> 0:02:13.680 and so they were discounted another twenty bucks from the 0:02:13.760 --> 0:02:17.960 seats on either side, and here's so, yeah, we're in 0:02:17.960 --> 0:02:20.400 front of a post behind the post. No, that's the thing. 0:02:20.400 --> 0:02:22.359 I knew the theater well enough to know that. I 0:02:22.440 --> 0:02:24.480 don't know why they were calling them limited view seats 0:02:24.480 --> 0:02:26.800 like they there was no post. There was no We 0:02:26.800 --> 0:02:28.600 were off to the side a little bit. But interestingly enough, 0:02:28.639 --> 0:02:29.840 we were in the middle of this row and the 0:02:29.880 --> 0:02:32.679 seats to the left into the right of us, none 0:02:32.720 --> 0:02:35.600 of them were considered limited view. That's just the seats 0:02:35.600 --> 0:02:39.000 where we were. And I'm like, the deal nothing there 0:02:39.000 --> 0:02:41.000 were there were great seats. I was like, it's shocked. 0:02:41.040 --> 0:02:43.040 So you truly didn't have a limited view, truly not 0:02:43.080 --> 0:02:44.880 a limited you know the answer that was achieved that 0:02:44.880 --> 0:02:46.960 was totally frugal. But I was, I guess you run 0:02:47.040 --> 0:02:50.560 the risk of it being potentially cheap. I was because 0:02:50.560 --> 0:02:51.880 I've seen a few shows at the Fox and I 0:02:51.919 --> 0:02:54.200 was like, there's still post down there, Like, unless I'm 0:02:54.240 --> 0:02:59.040 crazy and completely mistaken, may like change the architecture right 0:02:59.040 --> 0:03:01.400 and a post in there. But they got got rid 0:03:01.400 --> 0:03:03.679 of a post balcony. There used to be a post 0:03:03.720 --> 0:03:06.760 there and maybe no longer. Well I remember one time going, 0:03:06.960 --> 0:03:08.560 um okay, now We got seats one time up in 0:03:08.560 --> 0:03:11.360 the balcony, and I sat behind the post in the 0:03:11.360 --> 0:03:14.320 balcony and it's it's not fun. I'm talking specifically. I 0:03:14.400 --> 0:03:16.840 call them like, uh like date night seats or whatever. 0:03:16.880 --> 0:03:19.240 But there's this there's a couple of particular rows where 0:03:19.360 --> 0:03:21.800 it's just two chairs, two seats where you're sitting by 0:03:21.840 --> 0:03:23.680 yourself and so you kind of feel like a v 0:03:23.760 --> 0:03:26.160 I P. Where you're not sitting with the throngs of folks. 0:03:26.520 --> 0:03:28.160 But I am glad though that I worked out for 0:03:28.200 --> 0:03:31.520 You even saw Chicago, That's right. I enjoyed it. I've 0:03:31.560 --> 0:03:33.760 never never seen Chicago me neither. That was my first 0:03:33.760 --> 0:03:35.960 time and never never saw it on TV. No, I 0:03:36.000 --> 0:03:38.760 never saw the movie or anything, which those aren't really 0:03:39.000 --> 0:03:40.560 that great either. I feel like some of the ones 0:03:40.600 --> 0:03:43.560 that they make for TV end up like Cats. How 0:03:43.680 --> 0:03:45.839 terrible was that thing? I saw it? I never saw 0:03:45.880 --> 0:03:48.040 it either, But I've really gotten into the pres for it. 0:03:48.120 --> 0:03:51.360 Are you know, like with the Taylor Swift and Judy Dench, 0:03:51.720 --> 0:03:54.360 It's like it was scary. It was like terrifying, and 0:03:54.400 --> 0:03:57.400 people are like, yeah, she was she was in the Cats, 0:03:57.720 --> 0:03:59.760 the movie, the one made for TV. Okay, No, I 0:03:59.760 --> 0:04:01.600 didn't it. Yeah, and I didn't even know what existed. 0:04:01.640 --> 0:04:05.160 I don't think. So that's how that's all. Horribly it faired. 0:04:05.200 --> 0:04:07.720 I'm trying to get more cultured, and part of that includes, 0:04:07.880 --> 0:04:10.760 you know, more art museums, more plays. So it was 0:04:10.800 --> 0:04:12.080 it was fun to get to do it, but you know, 0:04:12.120 --> 0:04:13.640 you want to do it on the cheap, and and 0:04:13.680 --> 0:04:15.960 if it if it meant an actual limited view sitting 0:04:16.000 --> 0:04:18.080 behind a post, no it would not have been worth 0:04:18.080 --> 0:04:21.080 a discount. But I guess I looked out and it 0:04:21.440 --> 0:04:22.920 was worth the dis kind of thing. Now, you know, 0:04:23.000 --> 0:04:27.960 you can always go after those. So I think I 0:04:28.000 --> 0:04:30.200 think our tickets were forty nine each, and so I 0:04:30.200 --> 0:04:31.760 think it was sixty nine for the people on either 0:04:31.800 --> 0:04:34.120 side of us. I didn't bring it up to them. 0:04:34.160 --> 0:04:36.839 I didn't want to rub it in. All right, let's 0:04:36.880 --> 0:04:38.479 move on it. Let's mention the beer we're having on 0:04:38.480 --> 0:04:41.280 this episode. This one is called october Fest. It's by 0:04:41.320 --> 0:04:43.840 Talisman Brewing. We had a beer by the same brewery 0:04:43.839 --> 0:04:46.120 on Monday's episode. We'll give our thoughts on this one 0:04:46.400 --> 0:04:48.360 at the end of the episode. That's right, But Matt, 0:04:48.440 --> 0:04:51.800 let's get into this one. We're going full CrossFit on 0:04:52.240 --> 0:04:54.800 people's finances today, We're going, I don't know, maybe, and 0:04:55.120 --> 0:04:57.040 you're doing the Richard Simmons workouts, right, is that sure? 0:04:57.080 --> 0:04:59.560 Into Well, so I am doing the CrossFit workout, and 0:04:59.600 --> 0:05:01.920 I'm gonna do my best to not make this like 0:05:02.080 --> 0:05:04.479 U P s A to try to get everyone to 0:05:04.520 --> 0:05:06.279 do across because the joke is always how do you 0:05:06.279 --> 0:05:08.440 know someone's in across it? Because they'll tell you immediately, 0:05:08.520 --> 0:05:10.880 they'll let you know. And that being said, I feel 0:05:10.880 --> 0:05:12.720 like it's uh, the fact that I haven't brought it 0:05:12.800 --> 0:05:14.400 up for the past two I've done it for like 0:05:14.400 --> 0:05:16.240 two or three months now. Yeah, even we've both been 0:05:16.279 --> 0:05:17.640 doing it for about two and a half months now. 0:05:17.680 --> 0:05:19.240 So that's why we're like, we don't want to get 0:05:19.279 --> 0:05:20.800 too far into it. We want to kind of like 0:05:21.040 --> 0:05:23.080 see the lessons as they're evolving, but we also want 0:05:23.080 --> 0:05:24.840 to be far enough into it. Were like immediately and 0:05:24.960 --> 0:05:27.240 we're both like, oh my gosh, there are some incredible 0:05:27.360 --> 0:05:30.719 lessons to be learned from exercising, from staying healthy. Yeah, well, 0:05:30.800 --> 0:05:33.000 it makes me think that like one unit, you just 0:05:33.040 --> 0:05:35.840 never know when inspiration is going to strike, and which 0:05:35.920 --> 0:05:39.520 kind of sounds like something a creative artist would say, right, 0:05:39.520 --> 0:05:41.760 and chain smoking artist would say, but it makes me 0:05:41.800 --> 0:05:44.479 think of a scene from the classic movie Back to 0:05:44.480 --> 0:05:48.360 the Future when Doc Brown he basically explains how does 0:05:48.400 --> 0:05:50.600 that he came up with the idea for the flex capacitor, 0:05:51.080 --> 0:05:53.240 And the reality is that no flex capacitor means no 0:05:53.360 --> 0:05:55.880 time machine. So this is like vitally important to time 0:05:55.880 --> 0:05:58.040 travel but also to the more than anything to the 0:05:58.040 --> 0:06:00.480 plot of the movie. But the way that he came 0:06:00.520 --> 0:06:02.600 about it was that he was standing on his toilet. 0:06:02.640 --> 0:06:05.359 Doc was standing on his toilet hanging a clock or 0:06:05.440 --> 0:06:07.840 something when he slips, hitting his head on the sink, 0:06:08.080 --> 0:06:09.800 and it was at that precise moment that he came 0:06:09.880 --> 0:06:13.080 up with the idea for the flux cost and doing 0:06:13.160 --> 0:06:17.039 something completely unrelated to his scientific pursuits, and that of 0:06:17.080 --> 0:06:19.800 course would alter his life and and also Marty McFly's 0:06:19.839 --> 0:06:22.039 life as well. If you've never seen the movie, well 0:06:22.279 --> 0:06:24.640 what are you doing with your life? But will link 0:06:24.680 --> 0:06:27.160 to a clip where this where where you get to 0:06:27.200 --> 0:06:29.040 see this in action. But it's a classic moment from 0:06:29.040 --> 0:06:32.120 a movie that embodies the idea that answers have a 0:06:32.160 --> 0:06:34.680 unique way of showing up when we least expect that, 0:06:35.080 --> 0:06:37.120 and we promised, by the way, this this podcast isn't 0:06:37.120 --> 0:06:39.680 going to start churning out fitness content. That's now we're 0:06:39.680 --> 0:06:42.599 going to do. But the correlations between fitness and finance 0:06:42.600 --> 0:06:45.000 are numerous. We felt like there are answers in this 0:06:45.080 --> 0:06:48.280 realm that apply to the realm that we typically talk 0:06:48.320 --> 0:06:49.880 about every single week. Matt and we just kind of 0:06:49.880 --> 0:06:52.120 felt like we had to share absolutely. Yeah, And by 0:06:52.120 --> 0:06:54.200 the way, Back to the Future, the original Back to 0:06:54.240 --> 0:06:56.560 the Future one such an amazing movie. Like I don't 0:06:56.560 --> 0:06:58.839 think there's any movie out there as a kid that 0:06:58.880 --> 0:07:02.120 I watch more than particular movies except for maybe like 0:07:02.160 --> 0:07:05.000 The Goonies, Like it was a toss up between one 0:07:05.040 --> 0:07:08.240 of those two films. Um, And so you might be wondering, like, 0:07:08.279 --> 0:07:10.080 how is it that Back to the Future has anything 0:07:10.120 --> 0:07:12.080 to do with personal finance? Well, you know, like in 0:07:12.120 --> 0:07:14.920 the same way that Genius came to to doc when 0:07:14.920 --> 0:07:16.960 het least expected it, we found that there are so 0:07:17.000 --> 0:07:19.360 many different money lessons that we both learned from working 0:07:19.360 --> 0:07:22.360 out from getting more fit. Who knew that there'd be 0:07:22.400 --> 0:07:27.040 so many of like additional benefits and externalities in the 0:07:27.120 --> 0:07:31.040 language of economists from exercising, But the fact is there 0:07:31.080 --> 0:07:33.720 are so many different ways that we learn. Some folks 0:07:33.720 --> 0:07:36.320 out there, they're able to sit down and devour a 0:07:36.320 --> 0:07:39.400 book in a single sitting, retain every bit of information 0:07:39.440 --> 0:07:41.360 that way. But then for others it might it might 0:07:41.400 --> 0:07:44.360 take them interacting with the ideas, right like, they might 0:07:44.400 --> 0:07:47.040 be more of the doer type. And so while we 0:07:47.080 --> 0:07:49.560 think this is going to be a valuable episode for 0:07:49.600 --> 0:07:53.040 everyone out there, it might be appreciated even more by 0:07:53.080 --> 0:07:55.880 the type of person who likes to get their sweat on, right, 0:07:55.880 --> 0:07:58.160 which it turns out, Joel, that's more of what you 0:07:58.200 --> 0:07:59.960 and I are doing these days. We're getting our sweat on, 0:08:00.000 --> 0:08:02.240 We're getting fit, trying to be that Richard Simmonds type 0:08:02.280 --> 0:08:04.320 for sure. And by the way, is there any more 0:08:04.920 --> 0:08:06.880 Is there any more identifiable person in the world of 0:08:06.920 --> 0:08:09.320 exercise and Richard Simmons is either him or Billy Blank. 0:08:09.400 --> 0:08:11.040 It's it's one of those two, right, It's got to 0:08:11.080 --> 0:08:12.600 be one of those two. I guess the tybo I 0:08:12.600 --> 0:08:14.400 couldn't name any I know there's a lot of like 0:08:14.480 --> 0:08:18.840 exercise Instagram gurus now, but influencers, nobody's gonna have the 0:08:18.840 --> 0:08:20.480 same reach of Richards. It's it's sort of I mean, 0:08:20.520 --> 0:08:22.600 that's the difference between media today and media back when 0:08:22.600 --> 0:08:24.560 we were kids, right, Like, you had the three four 0:08:24.600 --> 0:08:27.320 major networks, and whoever was on there, they got all 0:08:27.360 --> 0:08:29.720 the eyeballs. But that's not quite how it is today. 0:08:29.760 --> 0:08:31.440 And so even though there are a number of folks, 0:08:31.520 --> 0:08:33.719 we're still going to remember the classics, the O G 0:08:34.360 --> 0:08:36.400 fitness guys out there right right well, And I like 0:08:36.440 --> 0:08:38.320 how you said, like I think some people that people 0:08:38.360 --> 0:08:40.199 who work out might might get more from this episode. 0:08:40.200 --> 0:08:43.360 But hopefully some of our listeners who maybe haven't really 0:08:43.400 --> 0:08:45.160 gotten into working out yet, maybe they still have an 0:08:45.160 --> 0:08:47.520 impact on their desire to actually get out there and 0:08:47.640 --> 0:08:50.040 do some sweating themselves. And we've talked about on the 0:08:50.040 --> 0:08:53.400 show how time is even more important than money, Matt. 0:08:53.400 --> 0:08:55.720 Even though we talk about money, the most limited resources 0:08:55.760 --> 0:08:58.520 exactly cannot get any more of it, That's right, And 0:08:58.600 --> 0:09:02.480 you're realizing that and then living accordingly is crucial so 0:09:02.520 --> 0:09:04.720 that we aren't spending all of our waking hours trying 0:09:04.760 --> 0:09:07.640 to amass this one asset, right, and which is money, 0:09:07.840 --> 0:09:11.240 which is a tool that ultimately it provides diminishing returns, 0:09:11.320 --> 0:09:13.920 especially past a certain point. And the interesting thing is 0:09:13.960 --> 0:09:16.079 that if you're you're looking to increase your allotment of 0:09:16.120 --> 0:09:19.360 available time. The only thing that you can do is 0:09:19.400 --> 0:09:23.320 to exercise and to participate less risky behaviors. Yes, skydiving, yes, 0:09:23.400 --> 0:09:26.200 don't do right, Yes, things like that that will short 0:09:26.200 --> 0:09:27.920 in your life. So being being healthier and then he's 0:09:27.960 --> 0:09:30.720 not doing crazy stuff is certainly gonna help you live longer. 0:09:30.960 --> 0:09:32.920 But friend of the show, Nick ma Julie, who came 0:09:32.960 --> 0:09:34.480 on you know, I don't know a few months back, 0:09:34.480 --> 0:09:36.440 he wrote the book just Keep Buying Well. He wrote 0:09:36.440 --> 0:09:38.680 about this recently in his his blog, and he wrote 0:09:38.760 --> 0:09:41.080 back about the fact that health experts have shown that 0:09:41.160 --> 0:09:44.520 folks with proper cardiovascular fitness can add something like three 0:09:44.559 --> 0:09:47.400 to five years onto their lives, and not just that, 0:09:47.440 --> 0:09:50.679 but six to eight years of health span, which is 0:09:50.720 --> 0:09:53.199 basically the healthy life where you're physically capable of doing 0:09:53.240 --> 0:09:55.480 the things that you'd like to do, or you know, 0:09:55.520 --> 0:09:58.520 if you live quality years. Yeah, an unhealthy life you're 0:09:58.520 --> 0:10:00.560 going to you you might live on us is long, 0:10:00.840 --> 0:10:03.240 but you're gonna have more years where your body isn't 0:10:03.240 --> 0:10:05.480 able to line up with your mental capacity and you're 0:10:05.480 --> 0:10:07.679 not able to do things you actually like. And the 0:10:07.720 --> 0:10:10.280 best line from his piece, Matt was he he wrote, 0:10:10.320 --> 0:10:13.400 assuming you spent four hours a week exercising fifty weeks 0:10:13.400 --> 0:10:16.120 a year for fifty years, that would be ten thousand 0:10:16.160 --> 0:10:19.640 hours of lifetime exercise. That's barely over one year of time. 0:10:20.000 --> 0:10:23.120 But for that one year, you would likely get six 0:10:23.160 --> 0:10:25.840 to eight additional years of disability free health. And I 0:10:25.880 --> 0:10:28.800 think that's just an important thing to realize, Like what 0:10:28.840 --> 0:10:32.079 you're putting in to exercise, you're getting a whole lot 0:10:32.120 --> 0:10:34.640 more out on the back end. Well, and that's assuming 0:10:34.679 --> 0:10:37.800 that you're discounting the time that you're spending exercising as 0:10:37.840 --> 0:10:40.080 like you're basically just completely throwing it away, right, And 0:10:40.160 --> 0:10:43.200 I would argue that even even that time spent running 0:10:43.320 --> 0:10:46.000 or working out or rowing like you gotta you gotta 0:10:46.080 --> 0:10:48.319 rowing machine, Like that's time. Ay, well, that's time that 0:10:48.360 --> 0:10:51.320 you can spend like listening to an audiobook or podcast 0:10:51.440 --> 0:10:53.080 something like that. But if you, let's just say you're 0:10:53.080 --> 0:10:54.600 gonna go out for a run, you've got to be 0:10:54.640 --> 0:10:56.840 time that you're just completely unplugged right where where you're 0:10:57.559 --> 0:11:00.480 kind of reaping the mental health been of fits of 0:11:00.600 --> 0:11:04.040 just clearing your mind, the ability to process some thoughts. 0:11:04.200 --> 0:11:06.240 But for me, going into a gym it's been nice 0:11:06.280 --> 0:11:08.400 as well because there's there's community there, right, and so 0:11:08.440 --> 0:11:11.640 there's some friendships and contributing to a local business, like 0:11:11.679 --> 0:11:14.840 these are all things that also have intrinsic value. And 0:11:14.880 --> 0:11:17.000 so it's not like it's just you throwing away a 0:11:17.040 --> 0:11:19.079 full year, a full year of your life, do you 0:11:19.080 --> 0:11:23.079 guys like do chest bumplows? I don't know. Yeah, No, 0:11:23.320 --> 0:11:26.680 it's and we should mention by surprisingly like not Broie 0:11:26.720 --> 0:11:28.160 at all, which is like one of the great things 0:11:28.200 --> 0:11:30.240 about it. Well, you you're doing cross fit. I'm working 0:11:30.240 --> 0:11:32.480 at a home on mostly like a rowing machine and 0:11:32.520 --> 0:11:35.400 some free weights and then and then doing some additional biking, 0:11:35.480 --> 0:11:37.520 so like you can do it a lot of ways. 0:11:37.840 --> 0:11:40.680 My method is a little bit less expensive, but yours 0:11:40.960 --> 0:11:43.080 has a lot of other perks as well. So that's 0:11:43.080 --> 0:11:45.079 another thing. It's like different we can get into this lighter, 0:11:45.080 --> 0:11:46.920 but different strokes are different folks. It doesn't always have 0:11:46.920 --> 0:11:48.520 to look the same. Yeah. Well, and you kind of 0:11:48.559 --> 0:11:50.600 hinted at this at the beginning too, But the reality 0:11:50.760 --> 0:11:53.839 is like we haven't avoided exercise completely up until this point, right, 0:11:53.920 --> 0:11:56.520 Like we just haven't been super intentional about it. Like 0:11:56.520 --> 0:11:58.600 I would sign up for races occasionally, and that would 0:11:58.600 --> 0:12:02.800 spur me on to specifically run more often. But aside 0:12:02.800 --> 0:12:04.680 from that, there wasn't a whole lot that I was 0:12:05.040 --> 0:12:07.079 doing myself. And dude, you know, I don't think we're 0:12:07.080 --> 0:12:08.880 alone in the fact that we've waited this long to 0:12:09.000 --> 0:12:11.320 get started and to start thinking about our health. I 0:12:11.320 --> 0:12:13.520 think a lot of folks don't really get started thinking 0:12:13.559 --> 0:12:16.760 about this until they're, you know, as they're entering middle age. 0:12:16.800 --> 0:12:20.240 Perhaps we're in our like thirties and now you're gonna 0:12:20.240 --> 0:12:22.240 live forever and exactly, and you start to see some 0:12:22.280 --> 0:12:24.480 deterioration and you're like, wait a second, I actually need 0:12:24.520 --> 0:12:26.520 to be proactive exactly. Yeah, And it's you know, it's 0:12:26.520 --> 0:12:29.320 not that you can't make signific significant progress at this 0:12:29.360 --> 0:12:31.199 point in your life. It's just that I think it's 0:12:31.240 --> 0:12:33.760 more ideal to be doing at least something during those 0:12:33.800 --> 0:12:36.920 early years, whether you're talking about fitness or money, but 0:12:37.040 --> 0:12:39.319 they both have this in common. It's not ideal to 0:12:39.320 --> 0:12:42.600 wait until you're older, but it's still better late than never. 0:12:42.960 --> 0:12:45.400 I think what's really interesting about it as well is 0:12:45.520 --> 0:12:48.520 I almost feel like that money and like physical fitness, 0:12:48.720 --> 0:12:51.760 they are in an inverse relationship with each other. Because 0:12:51.800 --> 0:12:53.600 like you said, when you're younger, you don't really think 0:12:53.600 --> 0:12:57.000 about being fit. You're just fit typically like automatically, right, 0:12:57.000 --> 0:12:59.440 Like if you're just an average person, like think about 0:12:59.520 --> 0:13:01.800 kids nothing or maybe you're not like fit, but you're 0:13:01.800 --> 0:13:03.800 at least like if you're not not fit, you're you're 0:13:03.800 --> 0:13:06.280 fairly healthy exactly. And so I think when you're younger, 0:13:06.320 --> 0:13:08.520 you're thinking a little bit less about your fitness, maybe 0:13:08.559 --> 0:13:10.920 more about your money, because you typically don't have as 0:13:11.000 --> 0:13:13.160 much of your money. But then as you get older, 0:13:13.280 --> 0:13:15.920 assuming just maybe the average person, you tend to make 0:13:15.920 --> 0:13:17.840 more money, and because of that, you're able to invest 0:13:17.880 --> 0:13:20.320 that money. Uh, and that money is then able to 0:13:20.440 --> 0:13:22.840 work more for you on your behalf. And to a 0:13:22.840 --> 0:13:24.920 certain extent, I think it it does get a little 0:13:24.960 --> 0:13:27.840 bit easier with your personal finances as you get older. 0:13:28.080 --> 0:13:30.360 But again you see the inverse, and I think you 0:13:30.360 --> 0:13:32.160 you start to see your health decline a little bit. 0:13:32.160 --> 0:13:33.880 You can't move in the same way, you can't run 0:13:33.880 --> 0:13:36.600 as fast, you can't lift as much as you could 0:13:36.760 --> 0:13:38.800 when you're younger, And so I think that's just a 0:13:39.360 --> 0:13:41.120 it depends on what phase of life you're in, because 0:13:41.160 --> 0:13:44.319 I think these are all natural sort of outcomes. But regardless, 0:13:44.360 --> 0:13:46.360 what we're saying is that it is important to do 0:13:46.440 --> 0:13:49.480 something when you're younger, because it is important to basically 0:13:49.520 --> 0:13:52.080 like set forth some of these healthy habits that we 0:13:52.120 --> 0:13:55.240 think are going to pay dividends and both arenas of life. Yeah, so, 0:13:55.320 --> 0:13:57.320 whether you're talking about fitness or you're talking about money, 0:13:57.320 --> 0:14:00.439 getting started early is a really important thing. But it's 0:14:00.440 --> 0:14:02.880 also important to note that neither of these things is 0:14:02.960 --> 0:14:05.839 rocket science. And I think the more you try to 0:14:06.040 --> 0:14:09.040 overthink and create the perfect workout routine, let's say, Matt, 0:14:09.240 --> 0:14:11.600 the more likely you are to not do it at all, 0:14:11.600 --> 0:14:15.040 You're likely to just not follow through. Studies actually show 0:14:15.480 --> 0:14:17.560 that the time of day that you exercise can have 0:14:17.600 --> 0:14:20.360 an impact on fat burning and strength building. And apparently 0:14:20.760 --> 0:14:22.760 I read this, you're reading this in Men's Health. Now, 0:14:23.520 --> 0:14:25.760 this is actually an article from the Washington Post. But 0:14:26.320 --> 0:14:30.920 but building, right, that's where I spend most of my 0:14:30.960 --> 0:14:33.960 time now. But morning workouts achieve better results for women, 0:14:34.000 --> 0:14:38.040 and then evening workouts achieve more results for men. And 0:14:38.080 --> 0:14:40.080 I saw that, but I was like, I don't really care, 0:14:40.320 --> 0:14:42.480 And why don't I really care? Because I'm not trying 0:14:42.520 --> 0:14:45.480 to optimize to that extent. The better goal for me 0:14:45.680 --> 0:14:48.000 is just to work out consistently, to do something whenever 0:14:48.080 --> 0:14:49.920 I can make it happen. And so if I'm gonna 0:14:49.960 --> 0:14:52.440 get like one percent better results in the evening, am 0:14:52.440 --> 0:14:54.640 I going to try to like revolve my whole life 0:14:54.760 --> 0:14:57.320 around evening workouts even though it's inconvenient to the rest 0:14:57.320 --> 0:14:59.840 of my lifestyle and my family. No way, It's it's 0:15:00.080 --> 0:15:03.560 it's possible to optimize things too much. And we would 0:15:03.560 --> 0:15:04.880 say the same thing is true with your money. It's 0:15:04.880 --> 0:15:07.160 possible to do that with with your workout regiment. It's 0:15:07.160 --> 0:15:09.520 also possible to do that with your finances. You might 0:15:09.520 --> 0:15:12.720 be overthinking things and you're allowing perfect to be the 0:15:12.840 --> 0:15:16.400 enemy of good when instead you simply need to spend 0:15:16.600 --> 0:15:18.680 less than you make and invest the difference. Like it's 0:15:18.760 --> 0:15:21.200 it's not rocket science to get more fit. It's not 0:15:21.280 --> 0:15:23.400 rocket science to get better with your money. Yes, right, 0:15:23.480 --> 0:15:25.720 And that being said, I think it is okay if 0:15:25.800 --> 0:15:28.600 you have an interest in all the details and and 0:15:28.680 --> 0:15:32.320 all the technical specs, and if you start if you're 0:15:32.320 --> 0:15:34.920 diving into like macros and like when it comes to diet, 0:15:35.000 --> 0:15:37.400 like there's all these different elements. I think that is okay, 0:15:37.440 --> 0:15:42.080 as long as you are not keeping those additional complexities 0:15:42.160 --> 0:15:44.360 from keeping you from taking any action at all. Right, 0:15:44.400 --> 0:15:46.840 And that's just in particular true true for folks who 0:15:46.840 --> 0:15:49.080 are just getting started, because if you're just getting started 0:15:49.080 --> 0:15:50.640 with your money, or you're just getting started with a 0:15:50.640 --> 0:15:53.600 fitness regiment, the more you overcomplicated, the less likely you 0:15:53.640 --> 0:15:56.240 are to continue on, right, And so the easier we 0:15:56.320 --> 0:15:59.360 can make that transition, I think, the more likely we 0:15:59.400 --> 0:16:01.640 are to kind of at a routine going. And that's 0:16:02.600 --> 0:16:05.720 exactly yeah. Well that being said, another lesson I think 0:16:05.720 --> 0:16:10.080 that we can glean from physical fitness is accountability. That 0:16:10.160 --> 0:16:13.040 it can go a long way. Obviously, the purest form 0:16:13.240 --> 0:16:15.560 of accountability is the one that you have with yourself, 0:16:15.640 --> 0:16:18.160 you know, like it's a personal commitment that you refuse 0:16:18.200 --> 0:16:21.080 to violate. But it is also going to be powerful 0:16:21.120 --> 0:16:24.360 to say our goals out loud, right, maybe to tell 0:16:24.400 --> 0:16:27.200 your closest friends in your family about your goals, because 0:16:27.200 --> 0:16:29.920 that can help you to commit or even like like 0:16:30.000 --> 0:16:32.680 posting publicly on social media, like that can be a 0:16:33.160 --> 0:16:35.760 type of commitment device, because nobody likes to fail in 0:16:35.760 --> 0:16:37.840 front of hundreds of their closest friends. Yeah, like you 0:16:37.880 --> 0:16:41.360 don't necessarily need a workout partner, for instance, although that 0:16:41.440 --> 0:16:44.760 can provide real help as well. Uh. And so like 0:16:44.800 --> 0:16:47.280 I say this because like, yes, self discipline is great, 0:16:47.400 --> 0:16:49.480 but if you're like me, maybe you have a little 0:16:49.560 --> 0:16:51.920 less self discipline than you'd like. And in that case, 0:16:51.920 --> 0:16:56.239 accountability it can be a massively helpful substitute for willpower 0:16:56.280 --> 0:16:59.200 at times when you feel yours failing. Back in the spring, 0:16:59.240 --> 0:17:02.000 we had Erica hung on Taylor made budgets, and one 0:17:02.080 --> 0:17:05.239 of the biggest takeaways I had from that conversation with 0:17:05.240 --> 0:17:07.240 her like she like she's a money coach basically, And 0:17:07.440 --> 0:17:10.240 one of the questions we had for her was like, Okay, so, Joel, 0:17:10.280 --> 0:17:12.160 you and I were best friends. We to a certain extent, 0:17:12.200 --> 0:17:14.280 we hold each other accountable. So if you have somebody 0:17:14.280 --> 0:17:17.160 in your life who can be that accountability partner, well, 0:17:17.160 --> 0:17:19.320 what's the difference between that and and actually having like 0:17:19.520 --> 0:17:21.119 a money coach. And what she said was that, like, 0:17:21.160 --> 0:17:22.919 at the end of the day, she's not there to 0:17:22.920 --> 0:17:26.160 be their friend, She's there too for them to see results. 0:17:26.440 --> 0:17:28.439 And so this is an instance where we made the 0:17:28.440 --> 0:17:31.919 crossover from personal finances to physical fitness, and so for 0:17:31.960 --> 0:17:34.440 me it helped me to realize that for years I 0:17:34.520 --> 0:17:36.159 had been wanting to work out more. I wanted, I 0:17:36.160 --> 0:17:37.520 was wanting to get a little more healthy, but I 0:17:37.520 --> 0:17:40.000