1 00:00:00,080 --> 00:00:03,000 Speaker 1: Welcome to How the Money. I'm Joel, I'm Nott, and 2 00:00:03,000 --> 00:00:06,519 Speaker 1: today we're discussing investing in n f T S, whiskey, 3 00:00:06,559 --> 00:00:28,520 Speaker 1: and farmland. Is it sane or stupid? That's right, man. 4 00:00:28,680 --> 00:00:30,400 Speaker 1: We are going to talk about all of the different 5 00:00:30,400 --> 00:00:34,080 Speaker 1: alternative investments out there. There are a lot of options. 6 00:00:34,159 --> 00:00:36,239 Speaker 1: It seems like there's more every single day that kind 7 00:00:36,240 --> 00:00:38,000 Speaker 1: of come onto the scene. But we're gonna talk about 8 00:00:38,040 --> 00:00:41,120 Speaker 1: what we think about some specific ones. We're gonna discuss 9 00:00:41,320 --> 00:00:43,479 Speaker 1: why we think they're great on one hand, but on 10 00:00:43,479 --> 00:00:46,160 Speaker 1: the other hand, why we think they're awful. We're gonna 11 00:00:46,200 --> 00:00:48,000 Speaker 1: We're gonna get to all of that today. There's a 12 00:00:48,040 --> 00:00:49,960 Speaker 1: little bit of both during this episode this right, but 13 00:00:50,240 --> 00:00:52,479 Speaker 1: first thing, I wanted to share a quick story about 14 00:00:52,640 --> 00:00:55,800 Speaker 1: a charge that hit my credit card statement. I signed 15 00:00:55,840 --> 00:00:58,440 Speaker 1: up for a free trial of Foobu TV. This is 16 00:00:58,480 --> 00:01:01,200 Speaker 1: a few weeks ago, and it's always foo Boo Foo 17 00:01:01,280 --> 00:01:04,759 Speaker 1: Boo TV. They I don't know, not the clothing manufacturer, 18 00:01:04,959 --> 00:01:08,520 Speaker 1: not for US bias, but fooboo dot TV. I was 19 00:01:08,560 --> 00:01:10,920 Speaker 1: wanting to watch a soccer match a few weeks ago, 20 00:01:11,280 --> 00:01:13,320 Speaker 1: and so I thought, yeah, I'll take advantage of the 21 00:01:13,720 --> 00:01:16,560 Speaker 1: free trial week. I think is what was what it was, 22 00:01:17,400 --> 00:01:21,440 Speaker 1: and the unspeakable happened, which is I forgot to set 23 00:01:21,480 --> 00:01:24,680 Speaker 1: my stupid calendar reminder to cancel that thing. I was 24 00:01:24,760 --> 00:01:27,400 Speaker 1: so pissed because it's expensive food boo TV is I mean, 25 00:01:27,440 --> 00:01:30,360 Speaker 1: it was a seventy nine dollar charge, which is, you know, 26 00:01:30,520 --> 00:01:32,399 Speaker 1: I don't know with what tam button a live sports 27 00:01:32,400 --> 00:01:34,320 Speaker 1: which is one of the most expensive things when it 28 00:01:34,360 --> 00:01:37,320 Speaker 1: comes to streaming, exactly. And so I reached out to 29 00:01:37,319 --> 00:01:40,560 Speaker 1: Foobi because I noticed it immediately and went to cancel it. 30 00:01:40,680 --> 00:01:43,240 Speaker 1: And since I hadn't actually taken advantage of the next, 31 00:01:43,319 --> 00:01:45,960 Speaker 1: you know, four weeks worth of what they had to offer, 32 00:01:46,240 --> 00:01:49,000 Speaker 1: I thought they might waive it for me. Guess what 33 00:01:49,240 --> 00:01:52,640 Speaker 1: they did not, And I don't blame them because those 34 00:01:52,680 --> 00:01:54,920 Speaker 1: are the rules. However, I was not yet ready to 35 00:01:55,000 --> 00:01:59,160 Speaker 1: accept an eighty dollar lesson, and so I remember that 36 00:01:59,200 --> 00:02:01,040 Speaker 1: I had put it on a credit card. So I 37 00:02:01,040 --> 00:02:03,200 Speaker 1: actually reached out to my credit card I told them 38 00:02:03,240 --> 00:02:05,400 Speaker 1: exactly what had happened, right. I didn't lie to them. 39 00:02:05,440 --> 00:02:08,960 Speaker 1: I wasn't like, hey, somebody stole my credit card and 40 00:02:09,040 --> 00:02:11,720 Speaker 1: signed up for Fubu TV. I told him. I was like, hey, 41 00:02:11,840 --> 00:02:14,480 Speaker 1: I missed the window. To cancel uh, and they charged me, 42 00:02:15,000 --> 00:02:17,440 Speaker 1: is this something that YA would consider waving uh? And 43 00:02:17,480 --> 00:02:19,880 Speaker 1: so they gave me a temporary credit. A week later, 44 00:02:20,080 --> 00:02:23,120 Speaker 1: that temporary credit was made permanent. And so I wanted 45 00:02:23,160 --> 00:02:26,760 Speaker 1: to mention that because by all means I owed Fubu 46 00:02:26,919 --> 00:02:29,880 Speaker 1: TV that money. I'm not trying to short change them 47 00:02:29,919 --> 00:02:32,880 Speaker 1: by any means, because in the end, I didn't jump 48 00:02:32,919 --> 00:02:35,520 Speaker 1: through their hoops, I didn't cancel in time. But because 49 00:02:35,520 --> 00:02:37,119 Speaker 1: I'd used a credit card, and this is a card 50 00:02:37,160 --> 00:02:39,640 Speaker 1: that I've had for a while, I guess maybe they 51 00:02:39,639 --> 00:02:41,680 Speaker 1: looked at how long I've been with them. Maybe they 52 00:02:41,720 --> 00:02:44,440 Speaker 1: saw that I pay on time every single month, and 53 00:02:44,480 --> 00:02:46,280 Speaker 1: so that was a charge that they were willing to eat. 54 00:02:46,320 --> 00:02:48,519 Speaker 1: So I wanted to mention that because we talked about 55 00:02:48,560 --> 00:02:50,679 Speaker 1: credit cards, we talked about some of the different benefits 56 00:02:50,680 --> 00:02:53,600 Speaker 1: that you receive, but the ability to dispute a charge 57 00:02:53,600 --> 00:02:56,160 Speaker 1: and to have some of that protection offered to you 58 00:02:56,360 --> 00:02:57,960 Speaker 1: is something that we we we don't talk about much 59 00:02:57,960 --> 00:03:00,400 Speaker 1: here on the show, but it is something we wanted 60 00:03:00,400 --> 00:03:02,239 Speaker 1: to make sure that folks are aware of. That's right. Yeah, 61 00:03:02,280 --> 00:03:05,440 Speaker 1: you can't do the same thing with other methods of payment, 62 00:03:05,560 --> 00:03:08,840 Speaker 1: but a credit card offers you that ability, and yeah, 63 00:03:08,840 --> 00:03:11,359 Speaker 1: I think the best case scenario is setting the calendar 64 00:03:11,360 --> 00:03:15,200 Speaker 1: reminder and of course doing yourself. But I think, um, yeah, 65 00:03:15,840 --> 00:03:19,600 Speaker 1: especially since you're above board in requesting the chargeback, that 66 00:03:19,760 --> 00:03:21,880 Speaker 1: it worked out in your favor. And people need to 67 00:03:21,880 --> 00:03:24,120 Speaker 1: realize that if a if a business doesn't follow through 68 00:03:24,560 --> 00:03:26,480 Speaker 1: on what they say they're going to do, or if 69 00:03:26,520 --> 00:03:28,480 Speaker 1: a product never gets delivered to your house but you're 70 00:03:28,520 --> 00:03:32,080 Speaker 1: still charged for it and they won't answer, the company 71 00:03:32,120 --> 00:03:35,120 Speaker 1: won't respond to your phone calls or emails, you know, 72 00:03:35,160 --> 00:03:37,760 Speaker 1: requesting that charge back with your credit card company is 73 00:03:37,800 --> 00:03:39,480 Speaker 1: the way to do it. It's usually within what a 74 00:03:39,560 --> 00:03:41,920 Speaker 1: ninety day window after the charge occurs that you have 75 00:03:42,240 --> 00:03:46,080 Speaker 1: in order to make that chargeback request. And so yeah, 76 00:03:46,240 --> 00:03:48,600 Speaker 1: we would say that's one of the perks of spending 77 00:03:48,600 --> 00:03:50,560 Speaker 1: with a credit card is knowing that you have that ability. 78 00:03:50,600 --> 00:03:52,080 Speaker 1: That's right, and you don't want to be the boy 79 00:03:52,080 --> 00:03:54,360 Speaker 1: who cried wolf. Right If you do this too often, 80 00:03:54,520 --> 00:03:56,240 Speaker 1: I think there's gonna come a time when they're gonna 81 00:03:56,280 --> 00:03:58,560 Speaker 1: say no, like sorry, we're done doing this. We we 82 00:03:58,600 --> 00:04:00,480 Speaker 1: see the game that you're playing. But in my case, 83 00:04:00,600 --> 00:04:02,080 Speaker 1: I don't know if I have ever done that with 84 00:04:02,120 --> 00:04:04,880 Speaker 1: this specific credit cards, so just keep that in mind 85 00:04:04,920 --> 00:04:07,040 Speaker 1: as well. Yeah, it's like buying stuff on Amazon, holding 86 00:04:07,040 --> 00:04:10,600 Speaker 1: this stuff and being like they never Now that's aside 87 00:04:10,600 --> 00:04:14,720 Speaker 1: from the moral implications of you as an individual, you're 88 00:04:14,720 --> 00:04:17,320 Speaker 1: probably gonna get screwed financially as well. Exactly. Yeah, alright, 89 00:04:17,360 --> 00:04:19,320 Speaker 1: well let's let's move on, Matt that we're having a 90 00:04:19,320 --> 00:04:22,320 Speaker 1: beer of course on this episode, like we do every episode. 91 00:04:22,400 --> 00:04:25,360 Speaker 1: This one is called Imaginary Grace. It's by Monday Night Brewing, 92 00:04:25,720 --> 00:04:29,159 Speaker 1: and we were there for an event recently and Brian, 93 00:04:29,279 --> 00:04:31,840 Speaker 1: who is a bartender there and listens to the show, uh, 94 00:04:31,920 --> 00:04:34,480 Speaker 1: donated this beer. So big thanks to Brian. And this 95 00:04:34,520 --> 00:04:36,960 Speaker 1: is like a special beer, one that is hard to 96 00:04:37,000 --> 00:04:39,279 Speaker 1: come by, So big thanks to Brian for given this 97 00:04:39,279 --> 00:04:41,440 Speaker 1: one to us. Yes, looking forward to talking all about 98 00:04:41,480 --> 00:04:42,800 Speaker 1: this one. I'm gonna have a lot to say, I 99 00:04:42,839 --> 00:04:45,000 Speaker 1: think at the end of this episode, though we'll save 100 00:04:45,080 --> 00:04:48,280 Speaker 1: that for later because we want to launch into alternative investments. 101 00:04:48,360 --> 00:04:50,159 Speaker 1: Let's get to it. Let's talk about all these different 102 00:04:50,160 --> 00:04:52,800 Speaker 1: ways that you can invest. There's it feels like there's 103 00:04:52,960 --> 00:04:55,720 Speaker 1: a million different ways, and I don't know, maybe there 104 00:04:55,720 --> 00:04:58,360 Speaker 1: were we had lived in simpler times, thirty years ago 105 00:04:58,680 --> 00:05:02,680 Speaker 1: when your methods aren sting were um, far fewer, and 106 00:05:02,960 --> 00:05:05,160 Speaker 1: uh if it makes me think about like the South 107 00:05:05,160 --> 00:05:08,640 Speaker 1: Beach Diet, Paleo Whole thirty, going on a juice cleanse, 108 00:05:08,800 --> 00:05:12,480 Speaker 1: the Keto like that, there's all these like new yeah, 109 00:05:12,600 --> 00:05:15,280 Speaker 1: like and there have been for the last years, right that. 110 00:05:15,680 --> 00:05:18,360 Speaker 1: There's just always a new trend around the corner promising 111 00:05:18,400 --> 00:05:21,880 Speaker 1: something new to help you lose weight. And if you 112 00:05:21,920 --> 00:05:23,640 Speaker 1: wait just a few months, guess what, you don't like 113 00:05:23,680 --> 00:05:25,520 Speaker 1: the ones that are currently on the market, There's something 114 00:05:25,520 --> 00:05:28,040 Speaker 1: else coming around the bend. But you know, I don't 115 00:05:28,040 --> 00:05:30,240 Speaker 1: really know anything about nutrition. I don't know which one 116 00:05:30,240 --> 00:05:33,279 Speaker 1: of these diets, which ones work, and which ones don't. 117 00:05:34,120 --> 00:05:36,080 Speaker 1: Don't come to how the money for that kind of advice? 118 00:05:36,200 --> 00:05:38,600 Speaker 1: And there are other podcasts they're gonna help you out 119 00:05:38,600 --> 00:05:42,480 Speaker 1: in that realm until we start our diet podcast. Okay, well, um, 120 00:05:42,520 --> 00:05:44,560 Speaker 1: you might be hosting that one, fellow, what will never happen. 121 00:05:45,279 --> 00:05:47,400 Speaker 1: But I do know that a healthy, balanced diet is 122 00:05:47,400 --> 00:05:49,560 Speaker 1: what you should be striving after. I know some of 123 00:05:49,600 --> 00:05:52,039 Speaker 1: the basics to not be an idiot. I know that 124 00:05:52,240 --> 00:05:54,200 Speaker 1: you know, eating fast food every day isn't gonna be 125 00:05:54,240 --> 00:05:57,719 Speaker 1: good for me. But while there are some helpful elements 126 00:05:58,120 --> 00:06:00,800 Speaker 1: with each one of these different diets, if you take 127 00:06:00,839 --> 00:06:03,520 Speaker 1: any one of them to the extreme, it's likely going 128 00:06:03,560 --> 00:06:06,360 Speaker 1: to harm your body, just because, like the Paleo diet 129 00:06:06,640 --> 00:06:09,719 Speaker 1: pushes a whole lot of meat consumption. That shouldn't be 130 00:06:09,760 --> 00:06:13,159 Speaker 1: the only thing you consume unless somehow, some nutritionists or 131 00:06:13,160 --> 00:06:15,480 Speaker 1: doctor has told you specifically that's what's best for you. 132 00:06:16,040 --> 00:06:17,919 Speaker 1: But I gotta imagine that's not in the case for 133 00:06:17,960 --> 00:06:20,200 Speaker 1: many Or just because you heard about this new juice 134 00:06:20,200 --> 00:06:23,360 Speaker 1: cleans doesn't mean that you should only consume sweet juices 135 00:06:23,360 --> 00:06:28,040 Speaker 1: where you're subsisting on liquefied food only for weeks on end. 136 00:06:28,320 --> 00:06:30,400 Speaker 1: And that doesn't mean that juice is bad, neither is meats. 137 00:06:30,800 --> 00:06:33,000 Speaker 1: But when things are out of whack in your diets 138 00:06:33,000 --> 00:06:36,000 Speaker 1: and you're veering from one extreme to another, you're gonna 139 00:06:36,040 --> 00:06:38,640 Speaker 1: hurt your body. And Matt, I think the same can 140 00:06:38,680 --> 00:06:41,680 Speaker 1: be true when we're talking about investing. There's a lot 141 00:06:41,680 --> 00:06:45,000 Speaker 1: of parallels there, Yeah, totally. Man. For years, we've taken 142 00:06:45,160 --> 00:06:47,279 Speaker 1: a very balanced approach to our our money, and we 143 00:06:47,279 --> 00:06:49,400 Speaker 1: want you to find the right balance between earning money, 144 00:06:49,480 --> 00:06:52,760 Speaker 1: spending it, and investing it. For your future. And today 145 00:06:52,920 --> 00:06:55,520 Speaker 1: we're talking about the healthy balance that you can find 146 00:06:55,680 --> 00:06:59,440 Speaker 1: specifically within that last category, the investing category, because we've 147 00:06:59,480 --> 00:07:02,359 Speaker 1: seen a ray eyes of these alternative investments over the 148 00:07:02,360 --> 00:07:04,640 Speaker 1: past decade. In the last few years, have seen a 149 00:07:04,680 --> 00:07:09,039 Speaker 1: flurry of new platforms giving you new and exciting places 150 00:07:09,080 --> 00:07:11,920 Speaker 1: to invest your money. And like now you can literally 151 00:07:11,920 --> 00:07:14,320 Speaker 1: invest in farmland in the middle of the country, even 152 00:07:14,360 --> 00:07:17,119 Speaker 1: if you live in l A on the West coast. 153 00:07:17,480 --> 00:07:20,080 Speaker 1: You can invest in high priced works of art, even 154 00:07:20,120 --> 00:07:22,680 Speaker 1: if you've only got a few hundred bucks. But are 155 00:07:22,720 --> 00:07:24,840 Speaker 1: they a good way for you to invest your money 156 00:07:25,000 --> 00:07:28,000 Speaker 1: or are they just another fad that will lead you astray. 157 00:07:28,440 --> 00:07:30,920 Speaker 1: That's the big question that we're gonna tackle today. I 158 00:07:31,000 --> 00:07:33,440 Speaker 1: do think that we should all be investing in beat 159 00:07:33,480 --> 00:07:36,280 Speaker 1: farms in Pennsylvania, Uh, Dwight, True, you know, we just 160 00:07:36,280 --> 00:07:38,160 Speaker 1: want to make sure that that his his beat farm 161 00:07:38,200 --> 00:07:41,400 Speaker 1: is successful. Do you like beats? Not really, actually, dude, Okay, 162 00:07:41,440 --> 00:07:44,280 Speaker 1: we love beats. Golden beats. The traditional red ones beats 163 00:07:44,280 --> 00:07:46,320 Speaker 1: are underrated. They call them golden beats. Like there's some 164 00:07:46,360 --> 00:07:50,080 Speaker 1: beats that are instead of red, like they're golden. Okay, Yeah, 165 00:07:50,120 --> 00:07:53,000 Speaker 1: I didn't know that. Yeah, they're really good too. Maybe 166 00:07:53,040 --> 00:07:56,760 Speaker 1: I'll try that. Speaking of diet, the diet podcast, maybe 167 00:07:56,760 --> 00:07:58,960 Speaker 1: that's one that we can we can tackle. Diet should 168 00:07:58,960 --> 00:08:01,320 Speaker 1: incorporate some beats into my diet. Well, let's get into it. 169 00:08:01,400 --> 00:08:04,280 Speaker 1: Let's talk about alternative investments, and let's let's start with 170 00:08:04,400 --> 00:08:07,400 Speaker 1: kind of the pros, because it's not all downside. There's 171 00:08:07,440 --> 00:08:11,360 Speaker 1: some cool things about what's available to us now as investors. Uh, 172 00:08:11,400 --> 00:08:14,200 Speaker 1: some of the options that we have available that we 173 00:08:14,200 --> 00:08:16,360 Speaker 1: didn't used to have. We're happy to see some of 174 00:08:16,400 --> 00:08:20,360 Speaker 1: these new alternative investment platforms on the scene. They're getting 175 00:08:20,520 --> 00:08:24,000 Speaker 1: lots of attention. Uh, you're hearing lots of advertisements for 176 00:08:24,120 --> 00:08:26,720 Speaker 1: many of them, which is a far different cry get 177 00:08:26,720 --> 00:08:28,720 Speaker 1: trying to you know, advertisements to get us to invest 178 00:08:28,800 --> 00:08:31,440 Speaker 1: as opposed to just getting us to consume. And of 179 00:08:31,440 --> 00:08:34,600 Speaker 1: course we're into you investing your money. Um, if it 180 00:08:34,600 --> 00:08:36,559 Speaker 1: comes down to whether you're gonna buy a gadget or 181 00:08:36,920 --> 00:08:39,880 Speaker 1: put more of your money in one of these alternative investments, 182 00:08:39,960 --> 00:08:42,760 Speaker 1: we'd rather see you putting your money. They're right, So 183 00:08:42,840 --> 00:08:46,559 Speaker 1: these alternative investments could be alternatives to spending. And if 184 00:08:46,559 --> 00:08:49,679 Speaker 1: that's the case, if these alternative investment platforms get you 185 00:08:49,760 --> 00:08:53,400 Speaker 1: excited about investing in general, we would say that's a 186 00:08:53,400 --> 00:08:54,840 Speaker 1: good thing. Yeah, it's better for it to be spent 187 00:08:54,880 --> 00:08:57,000 Speaker 1: on your future than on a widget that's just going 188 00:08:57,040 --> 00:09:01,200 Speaker 1: to uh, not appreciating value. And another reason that we 189 00:09:01,200 --> 00:09:04,640 Speaker 1: can get behind these alternative investments is because we now 190 00:09:05,000 --> 00:09:08,000 Speaker 1: have the ability to invest in assets that were only 191 00:09:08,040 --> 00:09:11,000 Speaker 1: available to the super wealthy. You have to have a 192 00:09:11,080 --> 00:09:13,880 Speaker 1: lot of money to be an accredited investor, but the 193 00:09:14,000 --> 00:09:18,000 Speaker 1: rise of these different platforms is making that less important. 194 00:09:18,400 --> 00:09:22,480 Speaker 1: Investments that were only available to the elite the one 195 00:09:22,520 --> 00:09:25,920 Speaker 1: percent are now open to the masses, and it's easier 196 00:09:25,920 --> 00:09:27,880 Speaker 1: than ever before. As well, some of the platforms that 197 00:09:27,880 --> 00:09:30,400 Speaker 1: will discuss today, they allow you to begin in investing 198 00:09:30,400 --> 00:09:34,040 Speaker 1: with only one dollar, and it's difficult to be able 199 00:09:34,080 --> 00:09:36,160 Speaker 1: to do anything for one dollar today. You can't even 200 00:09:36,160 --> 00:09:38,600 Speaker 1: get stuff of the dollar store anymore, for literally that 201 00:09:38,760 --> 00:09:41,160 Speaker 1: is true. But the fact that we can, you know, 202 00:09:41,280 --> 00:09:45,880 Speaker 1: get investing with literal change in our pocket, that is amazing. Yeah, 203 00:09:46,080 --> 00:09:49,839 Speaker 1: I agree. So accessibility to things that otherwise we're off 204 00:09:49,840 --> 00:09:52,680 Speaker 1: the table for you before is one of the pros 205 00:09:52,720 --> 00:09:55,680 Speaker 1: of these alternative investment platforms. Another thing is that they're 206 00:09:55,720 --> 00:09:59,200 Speaker 1: they're popular because they are so accessible, these platforms have 207 00:09:59,320 --> 00:10:03,040 Speaker 1: become kind of zeitgeiste there. They're a lot more people 208 00:10:03,080 --> 00:10:06,560 Speaker 1: are have become interested in investing and interested in the 209 00:10:06,600 --> 00:10:09,199 Speaker 1: different paths that investing can take you down. I mean, 210 00:10:09,240 --> 00:10:11,439 Speaker 1: have you ever seen so many meme stocks or art 211 00:10:11,480 --> 00:10:15,880 Speaker 1: investing sites in the news? Yeah, it's a relatively new occurrency, 212 00:10:15,920 --> 00:10:18,560 Speaker 1: like we're at all time live, specifically this past year, yes, 213 00:10:18,840 --> 00:10:21,840 Speaker 1: and so Yeah. Partially because the media is focusing on 214 00:10:21,920 --> 00:10:24,319 Speaker 1: investing more and more today, it's easier to get the 215 00:10:24,360 --> 00:10:28,600 Speaker 1: word out about these alternative investment sites. And because they're popular, 216 00:10:28,679 --> 00:10:31,560 Speaker 1: they're also it's also incredibly easy to get started. The 217 00:10:31,600 --> 00:10:34,560 Speaker 1: same marketers and user interface designers who have made it 218 00:10:34,880 --> 00:10:38,040 Speaker 1: easier than ever to buy stuff have focused their efforts 219 00:10:38,160 --> 00:10:43,400 Speaker 1: on new clients investing platforms and attracting those investors to them. Right. So, 220 00:10:43,520 --> 00:10:46,640 Speaker 1: today there are well over twenty million users on the 221 00:10:46,720 --> 00:10:49,000 Speaker 1: robin hood app alone, and a huge part of the 222 00:10:49,040 --> 00:10:53,040 Speaker 1: reason for robin Hood's success is because of the design 223 00:10:53,120 --> 00:10:55,680 Speaker 1: elements like how easy it has been to get started 224 00:10:55,720 --> 00:10:57,600 Speaker 1: and how easy it is to use or funneling you 225 00:10:57,640 --> 00:11:00,000 Speaker 1: to put your money with robin Hood to quote unquote 226 00:11:00,080 --> 00:11:03,640 Speaker 1: invested exactly, And there are hundreds of thousands of investors 227 00:11:03,640 --> 00:11:06,800 Speaker 1: on many of these other alternative investing platforms that we're 228 00:11:06,800 --> 00:11:09,640 Speaker 1: going to discuss today. And since investing is cool right now, 229 00:11:09,800 --> 00:11:12,559 Speaker 1: we're just seeing a huge rise, a surge in how 230 00:11:12,600 --> 00:11:15,439 Speaker 1: many people are attracted to these different methods, these different 231 00:11:15,480 --> 00:11:17,800 Speaker 1: ways of investing their money. That's right. So let's talk 232 00:11:17,840 --> 00:11:20,760 Speaker 1: about another pro on the side of alternative investments. Let's 233 00:11:20,760 --> 00:11:23,480 Speaker 1: talk about diversification, because you know, one of the reasons 234 00:11:23,480 --> 00:11:25,760 Speaker 1: that we're such fans of index funds, it's because of 235 00:11:25,800 --> 00:11:28,640 Speaker 1: the diversity that they bring to your portfolio. Like one 236 00:11:29,000 --> 00:11:32,320 Speaker 1: SMP five fund is going to have around yeah, yeah, 237 00:11:32,440 --> 00:11:37,240 Speaker 1: you guessed it, five hundred stocks within it. A total 238 00:11:37,320 --> 00:11:40,320 Speaker 1: stock market fund is going to have around four thousand 239 00:11:40,880 --> 00:11:42,839 Speaker 1: h You're still not going to get any exposure though, 240 00:11:42,960 --> 00:11:47,199 Speaker 1: to a painting by Picasso. Your portfolio won't directly reflect 241 00:11:47,200 --> 00:11:50,520 Speaker 1: the demand in high prices of a rare bottle of 242 00:11:50,559 --> 00:11:54,080 Speaker 1: the best French wine. But these platforms provide you exposure 243 00:11:54,120 --> 00:11:57,040 Speaker 1: to all sorts of different investments that will diversify your 244 00:11:57,080 --> 00:12:00,240 Speaker 1: portfolio beyond the ho hum total stock market index funds 245 00:12:00,240 --> 00:12:03,000 Speaker 1: out there, right, yeah, And and one other pro kind 246 00:12:03,000 --> 00:12:06,880 Speaker 1: of like sub note to the diversification thing is that 247 00:12:07,000 --> 00:12:10,280 Speaker 1: some of these assets are uncorrelated from the stock market, 248 00:12:10,520 --> 00:12:13,800 Speaker 1: and so yeah, they provide this way to smooth out 249 00:12:13,800 --> 00:12:19,160 Speaker 1: the overall volatility of your portfolio, right, Like, depending on 250 00:12:19,200 --> 00:12:21,000 Speaker 1: your appetite for the ups and downs of the market, 251 00:12:21,000 --> 00:12:23,360 Speaker 1: this might be a huge selling point and a reason 252 00:12:23,440 --> 00:12:26,560 Speaker 1: to consider some of these alternative investments. You know, art 253 00:12:26,559 --> 00:12:31,120 Speaker 1: prices don't necessarily reflect what the SMP five is is doing. 254 00:12:31,440 --> 00:12:33,800 Speaker 1: Same with real estate, like, there are and there are 255 00:12:33,800 --> 00:12:35,719 Speaker 1: many different ways to invest in real estate, which we'll 256 00:12:35,720 --> 00:12:38,160 Speaker 1: get to as well in this episode, some of which 257 00:12:38,400 --> 00:12:41,680 Speaker 1: are more correlated with the stock market and others which 258 00:12:42,040 --> 00:12:44,800 Speaker 1: are not. They diverge in a meaningful way, and that 259 00:12:44,840 --> 00:12:48,040 Speaker 1: means that these alternative investment platforms can provide a helpful 260 00:12:48,040 --> 00:12:50,480 Speaker 1: hedge for you as an investor. That's right. So we're 261 00:12:50,480 --> 00:12:53,640 Speaker 1: gonna talk about some of the specific alternative investment platforms 262 00:12:53,640 --> 00:12:55,520 Speaker 1: that are out there. We're gonna talk about how you 263 00:12:55,559 --> 00:12:58,720 Speaker 1: should think about these alternative investments within your portfolio. Will 264 00:12:58,760 --> 00:13:09,360 Speaker 1: get to all of that right after a break. All right, 265 00:13:09,440 --> 00:13:13,000 Speaker 1: let's keep going. Let's talk about investing in different ways. 266 00:13:13,120 --> 00:13:16,840 Speaker 1: We're going to talk about investing in wine art, mean stocks, 267 00:13:16,880 --> 00:13:18,960 Speaker 1: all the above. We're kind of kind of get into 268 00:13:19,280 --> 00:13:21,520 Speaker 1: the different platforms that allow you to do that, how 269 00:13:21,559 --> 00:13:23,880 Speaker 1: they work, what the fees are, that kind of stuff. 270 00:13:23,920 --> 00:13:26,120 Speaker 1: But first we just kind of cover the positive sides 271 00:13:26,720 --> 00:13:29,960 Speaker 1: of you of in putting your money in alternative investments, 272 00:13:30,120 --> 00:13:33,120 Speaker 1: and let's talk about the downsides the cons of investing 273 00:13:33,120 --> 00:13:36,679 Speaker 1: your money with one of these platforms too, because if 274 00:13:36,720 --> 00:13:39,360 Speaker 1: you had only stopped listening after the first segment, you 275 00:13:39,480 --> 00:13:42,880 Speaker 1: might think that we're in on alternative investments and we 276 00:13:42,920 --> 00:13:44,880 Speaker 1: think that you should be putting more and more of 277 00:13:44,920 --> 00:13:48,280 Speaker 1: your money there. Well, we're not. There's there's a number 278 00:13:48,280 --> 00:13:50,880 Speaker 1: of reasons for that. And one of the first things 279 00:13:50,880 --> 00:13:53,760 Speaker 1: we want to mention on that front is decision fatigue. 280 00:13:54,040 --> 00:13:58,920 Speaker 1: There's so many options available, and there's countless new platforms 281 00:13:59,160 --> 00:14:01,800 Speaker 1: that are live. It seems like like n f T S, 282 00:14:01,920 --> 00:14:04,480 Speaker 1: we're not something on almost anybody's radar two years ago, 283 00:14:04,960 --> 00:14:07,360 Speaker 1: and now more and more investors are thinking like, well, 284 00:14:07,360 --> 00:14:10,040 Speaker 1: which which digital art should I be buying and and 285 00:14:10,080 --> 00:14:12,160 Speaker 1: how many how much exposure do I need to that 286 00:14:12,200 --> 00:14:14,160 Speaker 1: asset class. I forget that I'm just gonna put my 287 00:14:14,200 --> 00:14:18,800 Speaker 1: money in a tungusten cube. Hey, it's physical, it's tangible, 288 00:14:18,880 --> 00:14:21,360 Speaker 1: and it weighs a lot at least, it's real, very heavy. Uh, 289 00:14:21,360 --> 00:14:23,000 Speaker 1: And so yeah, those are the kind of things though 290 00:14:23,120 --> 00:14:26,440 Speaker 1: that decision fatigue can overwhelm us and we might not 291 00:14:26,480 --> 00:14:29,040 Speaker 1: take any action at all because it's like, when there's 292 00:14:29,080 --> 00:14:32,600 Speaker 1: so many decisions open to us and we're not sure 293 00:14:32,600 --> 00:14:35,520 Speaker 1: whether we should be investing in art, wine, digital art, 294 00:14:35,920 --> 00:14:38,760 Speaker 1: or all the above, sometimes we just take the d 295 00:14:38,920 --> 00:14:41,720 Speaker 1: none of the above approach, and that's certainly not best 296 00:14:41,800 --> 00:14:44,320 Speaker 1: for our investments in our long term growth of our 297 00:14:44,320 --> 00:14:47,560 Speaker 1: money exactly. Yeah, because who has time to research every 298 00:14:47,560 --> 00:14:50,360 Speaker 1: single one of these new platforms that's you know, that's 299 00:14:50,440 --> 00:14:52,240 Speaker 1: new on the scene. You and I doel like we'll 300 00:14:52,240 --> 00:14:55,240 Speaker 1: probably check them out because it's well, it's partly our job, 301 00:14:55,440 --> 00:14:57,320 Speaker 1: but we're also into this kind of stuff. But most 302 00:14:57,320 --> 00:14:59,920 Speaker 1: people aren't going to research every one of these platforms. 303 00:15:00,240 --> 00:15:03,080 Speaker 1: But instead, when a typical investor dumps, say another five 304 00:15:03,120 --> 00:15:05,080 Speaker 1: hundred bucks into the smp F I fundered into the 305 00:15:05,120 --> 00:15:08,960 Speaker 1: roth IRA, like, they can spend literally zero time uh 306 00:15:09,040 --> 00:15:11,560 Speaker 1: dollar cost. Averaging into the stock market as a whole 307 00:15:12,040 --> 00:15:14,960 Speaker 1: is simple. Uh. You can just set it and forget it. 308 00:15:15,080 --> 00:15:16,800 Speaker 1: That is not the case typically when it comes to 309 00:15:16,800 --> 00:15:19,600 Speaker 1: these alternative investments, because they need to be researched, they 310 00:15:19,640 --> 00:15:21,480 Speaker 1: need to be considered, you need to figure out how 311 00:15:21,480 --> 00:15:24,160 Speaker 1: they're going to play into your overall portfolio. And then 312 00:15:24,200 --> 00:15:26,640 Speaker 1: after that, that's another password, that's another account that you're 313 00:15:26,640 --> 00:15:29,120 Speaker 1: gonna have to manage. And if that's something that you 314 00:15:29,160 --> 00:15:32,320 Speaker 1: get excited about, well then that's awesome, that's great, that's 315 00:15:32,360 --> 00:15:35,120 Speaker 1: something you can nerd out on. However, if that's not 316 00:15:35,160 --> 00:15:37,080 Speaker 1: what you're looking for, then this is definitely going to 317 00:15:37,120 --> 00:15:39,760 Speaker 1: be a downside exactly. Yeah, that the time it takes 318 00:15:39,960 --> 00:15:42,080 Speaker 1: in order to figure out which one of these is 319 00:15:42,160 --> 00:15:45,400 Speaker 1: right for you can be extensive, um in order to 320 00:15:45,400 --> 00:15:47,720 Speaker 1: make sure that you're making the right move for your 321 00:15:47,720 --> 00:15:50,200 Speaker 1: money and based on your risk profile and then man 322 00:15:50,240 --> 00:15:53,480 Speaker 1: another con another downside is is that these alternative investments 323 00:15:53,480 --> 00:15:55,960 Speaker 1: are just they're more complicated, and you and I we 324 00:15:56,040 --> 00:15:59,360 Speaker 1: prefer investments that are easy to understand, uh and and 325 00:15:59,440 --> 00:16:00,760 Speaker 1: you know, we kind of have a rule that if 326 00:16:00,760 --> 00:16:03,160 Speaker 1: you can't explain in investment so that an eight year 327 00:16:03,160 --> 00:16:05,320 Speaker 1: old can understand it, you shouldn't be investing in it. 328 00:16:05,560 --> 00:16:09,000 Speaker 1: And some of these alternative investments are are pretty straightforward, 329 00:16:09,040 --> 00:16:11,160 Speaker 1: like you're buying a bottle of wine and it's being 330 00:16:11,160 --> 00:16:13,440 Speaker 1: stored somewhere and it's supposed to go up in value, 331 00:16:13,440 --> 00:16:15,720 Speaker 1: and it's easy to explain that to an eight year old. 332 00:16:16,080 --> 00:16:18,280 Speaker 1: That still doesn't mean that's where you should put your dollars. 333 00:16:18,400 --> 00:16:20,520 Speaker 1: But there are others that are more complex, that are 334 00:16:20,560 --> 00:16:23,280 Speaker 1: more difficult to understand, and so we would say it's 335 00:16:23,320 --> 00:16:26,040 Speaker 1: really important to take the time to develop a thorough 336 00:16:26,120 --> 00:16:30,600 Speaker 1: understanding before you start putting your investment dollars in any 337 00:16:30,640 --> 00:16:33,480 Speaker 1: of these accounts on any of these platforms. Investing in 338 00:16:33,640 --> 00:16:37,080 Speaker 1: farmland in Idaho when you're not sure what they grow, 339 00:16:37,280 --> 00:16:39,640 Speaker 1: or what the likely returns are going to be, or 340 00:16:39,640 --> 00:16:42,440 Speaker 1: what the exit strategy is for that as an investment, 341 00:16:42,640 --> 00:16:45,960 Speaker 1: those higher levels of complication are certainly a downside for 342 00:16:46,120 --> 00:16:50,840 Speaker 1: most armchair investors, and oftentimes when there's more complexity Joel, 343 00:16:50,880 --> 00:16:54,320 Speaker 1: that leads to more stress. Uh. And so if too 344 00:16:54,400 --> 00:16:58,160 Speaker 1: much of your portfolio is allocated investments that might see 345 00:16:58,200 --> 00:17:01,400 Speaker 1: some outsize returns, well, that lack of certainty is likely 346 00:17:01,400 --> 00:17:03,480 Speaker 1: going to lead to worse sleep at night. I don't 347 00:17:03,480 --> 00:17:06,080 Speaker 1: know about you. I like my sleep too. And if 348 00:17:06,080 --> 00:17:08,840 Speaker 1: you've got too much writing on alternative investments, you might 349 00:17:08,920 --> 00:17:12,000 Speaker 1: find yourself more stressed out within these investments are typically 350 00:17:12,000 --> 00:17:14,840 Speaker 1: going to be higher risk and higher reward. And you 351 00:17:14,840 --> 00:17:17,399 Speaker 1: know that higher reward part sounds pretty good, but if 352 00:17:17,440 --> 00:17:20,440 Speaker 1: you don't know what you're doing, how you're going about 353 00:17:20,480 --> 00:17:23,320 Speaker 1: your investments, the risks here are real. Uh. There is 354 00:17:23,320 --> 00:17:25,800 Speaker 1: a potential for higher upsides when investing in some of 355 00:17:25,800 --> 00:17:28,679 Speaker 1: these alternatives, but you might also lose all of your 356 00:17:28,720 --> 00:17:31,440 Speaker 1: capital by choosing the wrong one. I'm thinking of squid coin, 357 00:17:31,520 --> 00:17:33,639 Speaker 1: where a lot of folks lost a lot of money 358 00:17:33,800 --> 00:17:37,840 Speaker 1: after that cryptocurrency was you know, got pumped and dumped. Yeah, 359 00:17:37,840 --> 00:17:39,960 Speaker 1: you've got dollar signs in your eyes because you're like 360 00:17:40,080 --> 00:17:43,080 Speaker 1: higher rewards, but yeah, there is that higher risk at 361 00:17:43,080 --> 00:17:45,400 Speaker 1: the same time, and if you fall on the wrong 362 00:17:45,400 --> 00:17:48,600 Speaker 1: side of the risk equation, you're probably gonna be pumped out. 363 00:17:48,640 --> 00:17:50,280 Speaker 1: It's gonna be hard to see your money go down 364 00:17:50,280 --> 00:17:52,760 Speaker 1: the drain like that, and another way your money goes 365 00:17:52,880 --> 00:17:54,880 Speaker 1: down the drain. I'm just well, before you start, I'm 366 00:17:54,920 --> 00:17:58,840 Speaker 1: just thinking of like the different uh alternative crypto coins 367 00:17:58,880 --> 00:18:01,280 Speaker 1: that could be made, and so they made like squid coin, 368 00:18:01,359 --> 00:18:04,399 Speaker 1: what if like what about like real Housewives coin, and 369 00:18:04,440 --> 00:18:07,440 Speaker 1: there's there's like a There's coin. Yeah, there's so many 370 00:18:07,440 --> 00:18:10,560 Speaker 1: different coins out there that are being made on an 371 00:18:10,560 --> 00:18:13,280 Speaker 1: almost daily basis. You could put a little bit of 372 00:18:13,320 --> 00:18:15,080 Speaker 1: money in every single one hoping that one goes to 373 00:18:15,119 --> 00:18:18,160 Speaker 1: the moon, but you're gonna lose on nine plus percent 374 00:18:18,160 --> 00:18:20,800 Speaker 1: of them, and so it's yeah, it's a tough space 375 00:18:21,200 --> 00:18:23,640 Speaker 1: to be your your speculator at that point an investor, 376 00:18:23,760 --> 00:18:25,479 Speaker 1: and that the other way that we lose money is 377 00:18:25,520 --> 00:18:28,399 Speaker 1: to fees. You and I, we we hate fees. We 378 00:18:28,400 --> 00:18:30,640 Speaker 1: think fees are the worst and these yeah, for two 379 00:18:30,640 --> 00:18:33,600 Speaker 1: frugal dudes who like this is honestly one of the 380 00:18:33,600 --> 00:18:35,280 Speaker 1: toughest pills of swallow when it comes to some of 381 00:18:35,320 --> 00:18:38,400 Speaker 1: these alternative investments is because of the costs associated with them. 382 00:18:38,440 --> 00:18:42,320 Speaker 1: That's right, that's right. And it's not that fees aren't 383 00:18:42,359 --> 00:18:45,000 Speaker 1: necessary in some aspects of life, like it's hard to 384 00:18:45,000 --> 00:18:48,560 Speaker 1: avoid or impossible to avoid fees completely. And it's not 385 00:18:48,600 --> 00:18:51,000 Speaker 1: that we don't think that these companies should get paid 386 00:18:51,040 --> 00:18:53,840 Speaker 1: because the nature of some of these alternative investments, but 387 00:18:53,960 --> 00:18:58,280 Speaker 1: there's understandably more overhead, right, like be aware because the 388 00:18:58,320 --> 00:19:01,560 Speaker 1: fees that each platform charges, like like fund rise. It's 389 00:19:01,640 --> 00:19:05,679 Speaker 1: understandable that they have essentially a one percent fee because 390 00:19:05,760 --> 00:19:09,200 Speaker 1: they're buying physical real estate, they're putting improvements in the properties. 391 00:19:09,240 --> 00:19:11,840 Speaker 1: If there were no fees, then how are they going 392 00:19:11,880 --> 00:19:14,240 Speaker 1: to make any money? But those fees are an important 393 00:19:14,240 --> 00:19:16,280 Speaker 1: part of the equation when it comes to whether or 394 00:19:16,359 --> 00:19:18,080 Speaker 1: not you should be investing there, if you should be 395 00:19:18,080 --> 00:19:20,679 Speaker 1: putting any money at all in that direction totally, And 396 00:19:20,720 --> 00:19:22,920 Speaker 1: I didn't even be willing to take an approach where 397 00:19:23,600 --> 00:19:25,440 Speaker 1: like where I would say, Okay, you can charge whatever 398 00:19:25,440 --> 00:19:26,920 Speaker 1: you want, Like I don't even care if the fees 399 00:19:26,960 --> 00:19:29,640 Speaker 1: are justifiable or not. But the fact is you as 400 00:19:29,640 --> 00:19:32,520 Speaker 1: an investor, you have to weigh those fees against the 401 00:19:33,000 --> 00:19:36,080 Speaker 1: you know, the return that not that you're promised, but 402 00:19:36,200 --> 00:19:38,119 Speaker 1: that you think might happen, right, Because like that's the 403 00:19:38,160 --> 00:19:40,840 Speaker 1: difference here, is that these fees are guaranteed. No matter what, 404 00:19:40,920 --> 00:19:43,680 Speaker 1: You're gonna be charged these fees, and you're hoping that 405 00:19:43,800 --> 00:19:46,119 Speaker 1: the outside return that you're gonna get on these investments 406 00:19:46,440 --> 00:19:48,399 Speaker 1: would be able to make up those fees, but you 407 00:19:48,440 --> 00:19:50,720 Speaker 1: don't know if that's actually going to happen. That's why, 408 00:19:50,920 --> 00:19:54,560 Speaker 1: for again, for a couple of dudes who are borderline sheep. 409 00:19:54,960 --> 00:19:57,680 Speaker 1: It is difficult to stomach some of these different fees 410 00:19:57,720 --> 00:20:00,560 Speaker 1: that are associated with these different alternative investment yeah, when 411 00:20:00,560 --> 00:20:04,520 Speaker 1: they can be avoided through investing in more traditional ways 412 00:20:04,560 --> 00:20:06,880 Speaker 1: to exactly Yeah, And you know, one of the other 413 00:20:06,920 --> 00:20:09,800 Speaker 1: downsides to alternative investments is the fact that your money 414 00:20:09,960 --> 00:20:12,760 Speaker 1: could be locked up for a while. So, for example, 415 00:20:12,760 --> 00:20:15,439 Speaker 1: with fund Rise real estate investing platform, it could be 416 00:20:15,520 --> 00:20:17,600 Speaker 1: years before you get your money back, and you would 417 00:20:17,600 --> 00:20:20,240 Speaker 1: have to pay some additional fees if you want your 418 00:20:20,240 --> 00:20:22,560 Speaker 1: money back earlier. And so you want to make sure 419 00:20:22,600 --> 00:20:24,480 Speaker 1: that you know how long your money is gonna be 420 00:20:24,480 --> 00:20:26,920 Speaker 1: locked up before you start investing. It's worth pointing out 421 00:20:26,920 --> 00:20:30,760 Speaker 1: that this is maybe a con towards alternative investments that's 422 00:20:30,800 --> 00:20:34,120 Speaker 1: not necessarily unique to some of these alts. Like I'm 423 00:20:34,119 --> 00:20:37,320 Speaker 1: thinking about I bonds. I recently purchased those, uh, and 424 00:20:37,440 --> 00:20:38,960 Speaker 1: that is money that I will not be able to 425 00:20:38,960 --> 00:20:41,360 Speaker 1: touch for a year. There's no fee I can pay 426 00:20:41,359 --> 00:20:43,280 Speaker 1: to get that money out earlier. It is there for 427 00:20:43,480 --> 00:20:45,840 Speaker 1: a year I can't touch it, and then beyond that 428 00:20:46,480 --> 00:20:48,960 Speaker 1: you can have access to that money. But again there 429 00:20:49,040 --> 00:20:52,440 Speaker 1: is technically a small fee associated with getting that money's right, 430 00:20:52,480 --> 00:20:54,760 Speaker 1: and and you know, we also someone might say, Man 431 00:20:54,760 --> 00:20:56,280 Speaker 1: and Joel, what are you talking about? You tell everyone 432 00:20:56,320 --> 00:20:57,920 Speaker 1: to put money in their four own k and you 433 00:20:58,000 --> 00:21:01,399 Speaker 1: can't touch that until your bay slee sixty and you're 434 00:21:01,440 --> 00:21:04,640 Speaker 1: reaching retirement age. And it's true. But the difference there 435 00:21:04,640 --> 00:21:07,280 Speaker 1: is that there's a special tax advantage we're putting money 436 00:21:07,320 --> 00:21:09,560 Speaker 1: in that account, and these are after tax dollars you're 437 00:21:09,600 --> 00:21:14,159 Speaker 1: putting into these alternative investments, and so there's there's a 438 00:21:14,160 --> 00:21:17,280 Speaker 1: different calculation that you have to take into accounts when 439 00:21:17,320 --> 00:21:19,520 Speaker 1: you're deciding which one of them is better for your money. 440 00:21:19,760 --> 00:21:22,840 Speaker 1: And for us, we say tax advantaged accounts when hands 441 00:21:22,840 --> 00:21:26,359 Speaker 1: down every time, it really alternative investments. The only reason 442 00:21:26,400 --> 00:21:29,280 Speaker 1: to consider them is if you're already kicking butt in 443 00:21:29,280 --> 00:21:31,640 Speaker 1: in those accounts. You're you're maxing out your aw th ira, 444 00:21:31,720 --> 00:21:33,280 Speaker 1: you're putting a lot of money into your fun k. 445 00:21:33,640 --> 00:21:36,000 Speaker 1: These alternative ones, which we're gonna talk about right now, 446 00:21:36,280 --> 00:21:39,800 Speaker 1: should really only be considered by investors who are doing 447 00:21:39,840 --> 00:21:42,520 Speaker 1: well in in those tax advantaged accounts. First totally, So 448 00:21:42,560 --> 00:21:44,920 Speaker 1: let's talk about cryptocurrencies. We've already touched on them a 449 00:21:44,920 --> 00:21:47,480 Speaker 1: little bit here, but they definitely feel like the alternative 450 00:21:47,480 --> 00:21:50,199 Speaker 1: investment of the moment. We actually gave our thoughts on 451 00:21:50,280 --> 00:21:54,399 Speaker 1: crypto generally speaking and bitcoins specifically in an ask how 452 00:21:54,440 --> 00:21:57,600 Speaker 1: the Money a few months ago. But the dynamics around 453 00:21:57,680 --> 00:22:02,320 Speaker 1: cryptocurrencies has just changed in recent years. We're seeing more 454 00:22:02,359 --> 00:22:06,200 Speaker 1: and more faith in the main big cryptocurrencies out there 455 00:22:06,240 --> 00:22:10,879 Speaker 1: like Bitcoin and ethereum, as well as more use case scenarios. Actually, 456 00:22:10,920 --> 00:22:13,639 Speaker 1: the incoming governor of New York he's been tweeting, tweeting 457 00:22:13,680 --> 00:22:16,919 Speaker 1: about collecting his pay in bitcoin for the first few 458 00:22:17,040 --> 00:22:20,280 Speaker 1: months of his term. Uh. And so cryptocurrencies in this 459 00:22:20,320 --> 00:22:23,199 Speaker 1: way has gone mainstream. A lot of big institutional banks, 460 00:22:23,320 --> 00:22:26,520 Speaker 1: they're pouring a lot of money into cryptocurrencies. But does 461 00:22:26,520 --> 00:22:28,000 Speaker 1: this mean that you should be putting most of your 462 00:22:28,000 --> 00:22:31,720 Speaker 1: money that you're investing for your retirements into crypto? No way, 463 00:22:31,760 --> 00:22:34,320 Speaker 1: We don't. Yeah, we definitely wouldn't recommend that you do that. 464 00:22:34,680 --> 00:22:37,359 Speaker 1: It's not stupid to have a little skin in the 465 00:22:37,359 --> 00:22:39,119 Speaker 1: game if you're so inclined, But this is not one 466 00:22:39,160 --> 00:22:41,200 Speaker 1: of those areas where you want to go all in. Yeah, 467 00:22:41,240 --> 00:22:43,760 Speaker 1: a little bit of crypto exposure if you have all 468 00:22:43,760 --> 00:22:47,040 Speaker 1: your other basis covered, it's not a terrible idea do 469 00:22:47,119 --> 00:22:50,080 Speaker 1: But let's talk about the other crowdsource investing platforms, what 470 00:22:50,119 --> 00:22:52,320 Speaker 1: they do, what you need to know, and we're just 471 00:22:52,359 --> 00:22:54,920 Speaker 1: gonna cover like four or five of the most popular ones, 472 00:22:55,119 --> 00:22:57,440 Speaker 1: the ones you've probably heard of, the ones that are 473 00:22:57,520 --> 00:23:02,200 Speaker 1: the most unique. And let's start with investing in wine. Wine. Yeah, 474 00:23:02,240 --> 00:23:05,120 Speaker 1: you know, we would prefer obviously a craft beer investing platform, 475 00:23:05,200 --> 00:23:07,560 Speaker 1: but uh um, no one's made it yet that we 476 00:23:07,600 --> 00:23:09,679 Speaker 1: know of. Instead of Vino Vests. We could call it 477 00:23:09,760 --> 00:23:13,760 Speaker 1: like craft bureau Fest. What would you call it? Yeah, 478 00:23:13,760 --> 00:23:15,440 Speaker 1: I don't know. We have to find find a creative name. 479 00:23:15,480 --> 00:23:18,560 Speaker 1: But the problem I guess with craft beer is beer. 480 00:23:18,920 --> 00:23:21,560 Speaker 1: Uh you know, some beers like the one we're drinking today, 481 00:23:21,600 --> 00:23:25,320 Speaker 1: actually would age fine four years and years wine most 482 00:23:25,359 --> 00:23:28,120 Speaker 1: wines age well unlike most craft beer stuff. And so 483 00:23:28,520 --> 00:23:30,679 Speaker 1: Vino vest is this platform that's letting you invest in 484 00:23:30,720 --> 00:23:33,280 Speaker 1: actual bottles of wine. And they say on their website 485 00:23:33,320 --> 00:23:35,480 Speaker 1: that wine has been a better investment than the SNP 486 00:23:35,520 --> 00:23:38,320 Speaker 1: five hundered over the past couple of decades. But are 487 00:23:38,320 --> 00:23:42,360 Speaker 1: you guaranteed superior returns? No, you're not, and you'll need 488 00:23:42,400 --> 00:23:44,919 Speaker 1: to have a minimum one thousand dollars to invest in 489 00:23:45,000 --> 00:23:47,439 Speaker 1: order to sign up. And get started. And then what 490 00:23:47,520 --> 00:23:51,000 Speaker 1: are the annual fees on that investment? Almost three percent. 491 00:23:51,520 --> 00:23:53,719 Speaker 1: They're taking pretty steep, that big of a cut, and 492 00:23:53,720 --> 00:23:56,359 Speaker 1: that's because that wine you've invested is stored in a 493 00:23:56,400 --> 00:24:00,280 Speaker 1: temperature controlled setting and so that's why they have to 494 00:24:00,359 --> 00:24:02,600 Speaker 1: charge you that kind of money. And then Vino vest 495 00:24:02,680 --> 00:24:05,359 Speaker 1: has created another website recently where you can invest in 496 00:24:05,480 --> 00:24:08,720 Speaker 1: rare whiskey too, and so like, could you could that? Yeah, 497 00:24:08,720 --> 00:24:10,840 Speaker 1: I'm definitely that more than I am the wine thing. 498 00:24:11,160 --> 00:24:13,679 Speaker 1: But could you make money investing in rare wines are 499 00:24:13,760 --> 00:24:17,080 Speaker 1: rare whiskeys, Yes, you certainly can. But when you look 500 00:24:17,080 --> 00:24:19,480 Speaker 1: at that fee structure and when you look at that 501 00:24:19,560 --> 00:24:22,639 Speaker 1: minimum to get to get started, um, you have to 502 00:24:22,640 --> 00:24:24,760 Speaker 1: be I would say, a wine lever or a whiskey lever, 503 00:24:25,080 --> 00:24:28,239 Speaker 1: and you have to be okay, main higher fees just 504 00:24:28,280 --> 00:24:30,720 Speaker 1: to invest in something that you enjoy. This isn't something 505 00:24:30,720 --> 00:24:34,520 Speaker 1: we would point beginner or just novice investors towards. Are 506 00:24:34,520 --> 00:24:36,800 Speaker 1: really most people towards. Yeah, well, if you think the 507 00:24:36,800 --> 00:24:38,520 Speaker 1: fees are high on that, dude, just hold on your hat. 508 00:24:39,400 --> 00:24:42,800 Speaker 1: We're about the launch into the art world, because you know, 509 00:24:42,840 --> 00:24:46,400 Speaker 1: both physical and digital art are incredibly hot right now. 510 00:24:46,480 --> 00:24:49,040 Speaker 1: They are both pretty big in the alternative investing space. 511 00:24:49,200 --> 00:24:51,439 Speaker 1: The Law Street Journal they they recently reported about how 512 00:24:51,560 --> 00:24:54,920 Speaker 1: much money rich investors are pouring into physical art purchases 513 00:24:54,960 --> 00:24:57,640 Speaker 1: these days, just just a weeker or two ago. Uh, 514 00:24:57,640 --> 00:25:00,280 Speaker 1: it is a lot, and folks are just me the 515 00:25:00,560 --> 00:25:02,640 Speaker 1: like we've seen with a lot of prices these days, 516 00:25:03,040 --> 00:25:05,840 Speaker 1: the prices are through the roof, both like Christie's and 517 00:25:05,840 --> 00:25:08,800 Speaker 1: Southern pieces. They're seeing people pay like sixteen times more 518 00:25:09,200 --> 00:25:12,000 Speaker 1: than what they would expect a piece to typically pull. 519 00:25:12,160 --> 00:25:14,160 Speaker 1: But you know, when it comes to us normal people 520 00:25:14,800 --> 00:25:18,399 Speaker 1: investing in physical artwork, Masterworks is the platform making it 521 00:25:18,440 --> 00:25:21,199 Speaker 1: possible for you to invest in physical art pieces that 522 00:25:21,240 --> 00:25:23,879 Speaker 1: you would never have been able to before, right, like 523 00:25:23,960 --> 00:25:26,920 Speaker 1: from Andy Warhol to like like Keith Herring pieces. It's 524 00:25:26,920 --> 00:25:28,760 Speaker 1: one of my favorites personally, you you like him a 525 00:25:28,760 --> 00:25:31,120 Speaker 1: lot on But in the realm of digital art, opency 526 00:25:31,280 --> 00:25:33,560 Speaker 1: is probably the biggest player in the n f T world, 527 00:25:34,000 --> 00:25:36,840 Speaker 1: which stands for non fungible token. We've talked about that 528 00:25:36,960 --> 00:25:38,960 Speaker 1: here on the show multiple times, but n f T 529 00:25:39,040 --> 00:25:41,960 Speaker 1: sales have surpassed three point five billion dollars so far 530 00:25:42,000 --> 00:25:44,760 Speaker 1: this year. But that being said, should you jump in 531 00:25:45,080 --> 00:25:47,359 Speaker 1: because you know, n f T s are obviously super hot, 532 00:25:47,520 --> 00:25:49,480 Speaker 1: and some folks have made a lot of money, but 533 00:25:49,560 --> 00:25:52,400 Speaker 1: others have lost a lot of money. So it's hard 534 00:25:52,440 --> 00:25:54,600 Speaker 1: to know what is going to happen in the n 535 00:25:54,640 --> 00:25:57,840 Speaker 1: f T space because it's still very much the wild 536 00:25:57,840 --> 00:26:01,240 Speaker 1: West physical art you know from now an artists specifically 537 00:26:01,240 --> 00:26:04,040 Speaker 1: are unlikely to have the same level of risk and reward. 538 00:26:04,320 --> 00:26:06,040 Speaker 1: But even still, there is a lot at play when 539 00:26:06,040 --> 00:26:08,280 Speaker 1: it comes to the different tastes and what people are 540 00:26:08,320 --> 00:26:11,080 Speaker 1: willing to buy these days or I'm specifically in the future. 541 00:26:11,680 --> 00:26:13,960 Speaker 1: But here's when you know, I mentioned the fees, dude, 542 00:26:14,480 --> 00:26:17,880 Speaker 1: The fees with masterworks are insane. So one point five 543 00:26:17,880 --> 00:26:20,800 Speaker 1: percent annually, which you know, you're like, okay, that doesn't 544 00:26:20,800 --> 00:26:23,040 Speaker 1: sound too bad. It's actually better than vin no vest. 545 00:26:23,680 --> 00:26:27,160 Speaker 1: But then they take twenty cut on the profit after 546 00:26:27,280 --> 00:26:30,240 Speaker 1: a piece cells That is crazy. That's like an entire 547 00:26:30,480 --> 00:26:34,639 Speaker 1: like separate government that is taxing you on on your profit. Uh. Like, 548 00:26:34,720 --> 00:26:37,119 Speaker 1: I hate the idea of paying you know, six percent 549 00:26:37,200 --> 00:26:39,119 Speaker 1: to a realtor if if you're going to sell a property, 550 00:26:39,160 --> 00:26:41,840 Speaker 1: but twenty percent, man, that is mind blowing. For that 551 00:26:41,880 --> 00:26:44,879 Speaker 1: reason alone, I would have a very difficult time in uh, 552 00:26:44,920 --> 00:26:48,240 Speaker 1: investing in art within masterworks, I get the emotional poll 553 00:26:48,400 --> 00:26:50,120 Speaker 1: because when I go there and I see those Keith 554 00:26:50,119 --> 00:26:51,680 Speaker 1: Herrying pieces and I'm like, I can own a piece 555 00:26:51,680 --> 00:26:54,320 Speaker 1: of that. How cool is that it does? It stirs 556 00:26:54,359 --> 00:26:57,280 Speaker 1: the soul, like like you feel it in a way 557 00:26:57,320 --> 00:27:02,280 Speaker 1: that you don't with Voight. It's exactly my favorite. Almost 558 00:27:02,280 --> 00:27:05,040 Speaker 1: no emotional attention to that investment, and so other The 559 00:27:05,119 --> 00:27:07,399 Speaker 1: more I own you, uh, the more I do get 560 00:27:07,440 --> 00:27:09,800 Speaker 1: attached to it. I like it. Something about it speaks 561 00:27:09,840 --> 00:27:11,960 Speaker 1: to me. It's like your kid brother or something. Well, yeah, 562 00:27:11,960 --> 00:27:14,919 Speaker 1: and I get that. But I agree that the fees, 563 00:27:15,040 --> 00:27:17,359 Speaker 1: like we mentioned earlier, are definitely one of the biggest 564 00:27:17,359 --> 00:27:22,240 Speaker 1: attractions from investing in some of these alternative spaces. And 565 00:27:22,920 --> 00:27:25,119 Speaker 1: I love what some of these platforms are doing. I 566 00:27:25,160 --> 00:27:27,199 Speaker 1: think it's I think it's cool. And I think if 567 00:27:27,240 --> 00:27:29,439 Speaker 1: you love wine or you love art and you have 568 00:27:29,640 --> 00:27:31,760 Speaker 1: been a great investor for a long period of time 569 00:27:31,760 --> 00:27:34,439 Speaker 1: doing the boring stuff that we typically recommend that we 570 00:27:34,480 --> 00:27:37,040 Speaker 1: think is the first place you should turn, then you 571 00:27:37,080 --> 00:27:39,400 Speaker 1: know you can dabble as long as you understand kind 572 00:27:39,400 --> 00:27:43,359 Speaker 1: of what's happening behind the scenes with these alternative investment platforms. 573 00:27:43,560 --> 00:27:45,679 Speaker 1: But you're right like that that is something you need 574 00:27:45,720 --> 00:27:47,840 Speaker 1: to be aware of on the front end. But we've 575 00:27:47,880 --> 00:27:50,159 Speaker 1: got more we want to get to, including there's a 576 00:27:50,160 --> 00:27:52,520 Speaker 1: lot in the real estate space that you can take 577 00:27:52,600 --> 00:27:55,280 Speaker 1: part in, UH, thanks to the Internet these days, and 578 00:27:55,280 --> 00:27:58,520 Speaker 1: thanks to these alternative investing platforms. We'll talk about those, 579 00:27:58,640 --> 00:28:01,440 Speaker 1: and then we'll give some of our thoughts on how 580 00:28:01,480 --> 00:28:03,600 Speaker 1: you determine whether or not these are right for you. 581 00:28:03,640 --> 00:28:14,440 Speaker 1: We'll get to that right after this. We're back. We're 582 00:28:14,440 --> 00:28:18,840 Speaker 1: still talking about alternative investing platforms, and Joe, let's keep moving. 583 00:28:19,040 --> 00:28:21,639 Speaker 1: We've talked a lot about investing in real estate, and 584 00:28:21,680 --> 00:28:24,399 Speaker 1: specifically we've talked about investing in local real estate that 585 00:28:25,080 --> 00:28:27,679 Speaker 1: long term, mom and pop buy and hold and hold. 586 00:28:27,960 --> 00:28:30,000 Speaker 1: There's a lot more in your control when you when 587 00:28:30,000 --> 00:28:32,440 Speaker 1: you buy and hold, so you can increase the upside 588 00:28:32,440 --> 00:28:34,880 Speaker 1: of any investment that you make in local real estate. 589 00:28:34,920 --> 00:28:36,560 Speaker 1: It's one of the reasons that we are such big 590 00:28:36,560 --> 00:28:39,000 Speaker 1: fans of it. UH. And you know, I don't necessarily 591 00:28:39,000 --> 00:28:41,440 Speaker 1: think of owning physical real estate that you manage as 592 00:28:41,480 --> 00:28:44,600 Speaker 1: an alternative investment, but there are ways to invest in 593 00:28:44,640 --> 00:28:47,280 Speaker 1: real estate that look a little bit different One of 594 00:28:47,320 --> 00:28:50,520 Speaker 1: these alternative ways is to pursue real estate investing via 595 00:28:50,880 --> 00:28:53,360 Speaker 1: syndication deals UH and that's where you give money to 596 00:28:53,400 --> 00:28:57,959 Speaker 1: a sponsor who's also UH an investor doing bigger deals like, 597 00:28:58,040 --> 00:29:00,880 Speaker 1: for instance, buying UH an apartment complex that they're gonna 598 00:29:01,000 --> 00:29:03,840 Speaker 1: maybe rehab increase the value of while while they're collecting 599 00:29:03,840 --> 00:29:06,760 Speaker 1: more in rent UH and then eventually sell. There's still 600 00:29:06,800 --> 00:29:08,959 Speaker 1: a lot of due diligence required to find the right 601 00:29:08,960 --> 00:29:12,760 Speaker 1: partnerships to find the best syndication deals, but the annoyances 602 00:29:12,920 --> 00:29:15,880 Speaker 1: of the day to day management go away under this model, 603 00:29:16,160 --> 00:29:19,040 Speaker 1: and it's definitely something that we would recommend you check 604 00:29:19,080 --> 00:29:21,960 Speaker 1: out if you're interested in some of these alternative options. 605 00:29:22,000 --> 00:29:25,880 Speaker 1: That's right, These are definitely harder to come by or UH. 606 00:29:26,440 --> 00:29:29,080 Speaker 1: It's there's not some fancy platform that makes it easy 607 00:29:29,120 --> 00:29:32,360 Speaker 1: for you to invest in syndication deals. For the most part, 608 00:29:32,600 --> 00:29:35,160 Speaker 1: there are a lot of individual investors with their own 609 00:29:35,280 --> 00:29:38,760 Speaker 1: companies that you can partake in kind of what they're doing, 610 00:29:38,920 --> 00:29:41,760 Speaker 1: and you can be a part of funding those investments. UH. 611 00:29:41,760 --> 00:29:44,840 Speaker 1: And there's a again high risk, high reward there. But 612 00:29:44,880 --> 00:29:47,080 Speaker 1: if you're talking about how to participate in one of 613 00:29:47,080 --> 00:29:51,680 Speaker 1: these syndication style deals on one of these alternative investing platforms. 614 00:29:51,800 --> 00:29:56,280 Speaker 1: Will Fundise is the main platform that that you'd want 615 00:29:56,280 --> 00:29:59,520 Speaker 1: to consider, right, Matt and I, we've always suggested publicly 616 00:29:59,600 --> 00:30:03,800 Speaker 1: trade rates, which are real estate investment trusts, and we've 617 00:30:03,840 --> 00:30:06,520 Speaker 1: basically been proponents of those because there are lower costs 618 00:30:06,560 --> 00:30:09,440 Speaker 1: involved if you put your money there, and basically your 619 00:30:09,440 --> 00:30:12,000 Speaker 1: money is then going to fund a lot of companies 620 00:30:12,000 --> 00:30:15,440 Speaker 1: who are investing in potentially thousands of different real estate 621 00:30:15,520 --> 00:30:18,600 Speaker 1: ventures across the country. And so that's why we say 622 00:30:18,640 --> 00:30:21,560 Speaker 1: it's it's it's highly diversified, the costs are lower, and 623 00:30:21,680 --> 00:30:23,480 Speaker 1: you can get in and out whenever you want. But 624 00:30:23,680 --> 00:30:27,800 Speaker 1: Fundrise is definitely one of the best alternative investment offerings 625 00:30:27,840 --> 00:30:30,280 Speaker 1: when it comes to to real estate offering. We would 626 00:30:30,280 --> 00:30:33,600 Speaker 1: say reasonable fees in the one percent range and you 627 00:30:33,640 --> 00:30:36,200 Speaker 1: can get started with just ten bucks, which is rare 628 00:30:36,400 --> 00:30:39,040 Speaker 1: in the alternative investing space. Usually the cost to get 629 00:30:39,080 --> 00:30:42,480 Speaker 1: going is a little bit higher. Um. But here's the thing. 630 00:30:42,520 --> 00:30:46,200 Speaker 1: Any of these syndication style investments are also a liquid 631 00:30:46,320 --> 00:30:49,600 Speaker 1: unlike publicly treated rates, and so your money is locked 632 00:30:49,680 --> 00:30:53,400 Speaker 1: up for a while for years typically, and that makes 633 00:30:53,440 --> 00:30:57,480 Speaker 1: sense because you're investing in a specific physical real estate project. 634 00:30:57,720 --> 00:31:00,000 Speaker 1: You can't just get in and out willy nilly, uh. 635 00:31:00,000 --> 00:31:01,320 Speaker 1: But you have to be okay with that. You have 636 00:31:01,360 --> 00:31:04,400 Speaker 1: to understand what you're getting into. And so while publicly 637 00:31:04,440 --> 00:31:06,880 Speaker 1: traded reats we think are a great idea for people 638 00:31:06,920 --> 00:31:09,160 Speaker 1: who want some real estate exposure and don't want to 639 00:31:09,200 --> 00:31:12,320 Speaker 1: become a mom and pop lanelord in their neighborhood. So, 640 00:31:12,360 --> 00:31:14,960 Speaker 1: if you want, you know, some real estate exposure, those 641 00:31:14,960 --> 00:31:17,120 Speaker 1: publicly traded reads are a good place to start. And 642 00:31:17,120 --> 00:31:19,320 Speaker 1: if you don't want to become a mom and pop 643 00:31:19,440 --> 00:31:21,959 Speaker 1: landlord where you live in your neighborhood, if you're like 644 00:31:22,200 --> 00:31:24,080 Speaker 1: that takes too much money or I'm just not interested 645 00:31:24,120 --> 00:31:26,960 Speaker 1: because basically a part time job, which it is, you know, 646 00:31:26,960 --> 00:31:29,960 Speaker 1: we would say fund Rise is a place worth looking towards. 647 00:31:30,200 --> 00:31:31,560 Speaker 1: It's kind of fun to be able to see the 648 00:31:31,600 --> 00:31:33,640 Speaker 1: actual project where your money is going and to be 649 00:31:33,680 --> 00:31:35,160 Speaker 1: able to dissect it in that way. I think you 650 00:31:35,160 --> 00:31:37,760 Speaker 1: can actually learn a lot as an investor going putting 651 00:31:37,760 --> 00:31:40,320 Speaker 1: some of your money with a company like Fundrise towards 652 00:31:40,320 --> 00:31:43,320 Speaker 1: a specific project. It's it's gonna have higher fees, your 653 00:31:43,320 --> 00:31:45,280 Speaker 1: money is gonna be locked up, but it has some 654 00:31:45,360 --> 00:31:47,280 Speaker 1: other positives at the same time. Yeah, well, I mean, 655 00:31:47,280 --> 00:31:48,920 Speaker 1: and one of the reasons too that we're that we're 656 00:31:48,960 --> 00:31:51,760 Speaker 1: so bullish on some of these alternatives to mom and 657 00:31:51,760 --> 00:31:54,480 Speaker 1: pop real estate investing is the fact that the fundamentals 658 00:31:54,480 --> 00:31:56,400 Speaker 1: are the same, right. It's it's not like this there's 659 00:31:56,440 --> 00:31:58,720 Speaker 1: a new model where like with n f T s 660 00:31:58,800 --> 00:32:01,520 Speaker 1: or like meme stocks that are just purely based on speculation. 661 00:32:01,840 --> 00:32:04,760 Speaker 1: The fundamentals of these different forms of real estate are 662 00:32:04,760 --> 00:32:07,560 Speaker 1: the same. Where you know, you've got folks who are 663 00:32:07,600 --> 00:32:09,680 Speaker 1: looking for a place to live, and they will pay 664 00:32:09,720 --> 00:32:11,960 Speaker 1: a lot of money to rent this apartment or to 665 00:32:12,000 --> 00:32:14,280 Speaker 1: rent this house, and so the fundamentals have stayed the same. 666 00:32:14,320 --> 00:32:16,360 Speaker 1: But what's different is the fact that the execution of 667 00:32:16,400 --> 00:32:19,960 Speaker 1: those fundamentals have changed. Uh, it's become more convenient. There 668 00:32:20,000 --> 00:32:23,600 Speaker 1: are ways to streamline inefficiencies and management in other ways 669 00:32:23,680 --> 00:32:26,200 Speaker 1: to maximize the amount of profit that the investors are 670 00:32:26,240 --> 00:32:29,640 Speaker 1: able to receive in the crowdsource the funding across hundreds 671 00:32:29,720 --> 00:32:31,880 Speaker 1: or thousands of people for one project, as opposed to 672 00:32:31,920 --> 00:32:35,200 Speaker 1: going with a small handful of investors or with a bank. 673 00:32:35,280 --> 00:32:37,480 Speaker 1: And that's kind of how fund rise has been able 674 00:32:37,520 --> 00:32:40,680 Speaker 1: to change the game exactly. Yeah, So let's another type 675 00:32:40,680 --> 00:32:44,000 Speaker 1: of real estategill farms, because you can also invest in 676 00:32:44,360 --> 00:32:47,000 Speaker 1: farm land right now. And the cool thing about investing 677 00:32:47,040 --> 00:32:50,280 Speaker 1: in farms is that it is historically a less volatile 678 00:32:50,280 --> 00:32:54,640 Speaker 1: asset that still provides solid returns. And acre Trader that's 679 00:32:54,640 --> 00:32:58,640 Speaker 1: a platform that brings farmland investing to the masses. The 680 00:32:58,720 --> 00:33:01,320 Speaker 1: fees are similar to what fund Rise charges, and so 681 00:33:01,400 --> 00:33:04,520 Speaker 1: this basically opens up another avenue for real estate investing 682 00:33:04,600 --> 00:33:07,800 Speaker 1: for you. But with some of these alternatives, like acre Trader, 683 00:33:08,120 --> 00:33:11,200 Speaker 1: they require you to be an accredited investor, and so 684 00:33:11,280 --> 00:33:13,280 Speaker 1: that means that you'll need to have a net worth 685 00:33:13,440 --> 00:33:16,520 Speaker 1: of at least over a million dollars, not including equity 686 00:33:16,520 --> 00:33:19,360 Speaker 1: in your primary residence, or you need to have an 687 00:33:19,360 --> 00:33:23,400 Speaker 1: annual income of at least three thousand dollars. Another downside 688 00:33:23,440 --> 00:33:26,120 Speaker 1: acre Trader UH, they've got a minimum investment of ten 689 00:33:26,160 --> 00:33:29,880 Speaker 1: thousand dollars, and so unlike UH investing in the crypto 690 00:33:30,120 --> 00:33:34,440 Speaker 1: via robin Hood, there are table there are some higher hurdles, 691 00:33:34,440 --> 00:33:37,560 Speaker 1: and so this this makes acre Trader specifically maybe less attractive, 692 00:33:37,680 --> 00:33:41,480 Speaker 1: less accessible UH to the masses, but even still it's 693 00:33:41,600 --> 00:33:44,400 Speaker 1: more accessible than it used to be to where you 694 00:33:44,440 --> 00:33:46,680 Speaker 1: had to know somebody who was gonna go buy some 695 00:33:46,720 --> 00:33:48,240 Speaker 1: farms or something like that. I don't even know what 696 00:33:48,280 --> 00:33:50,600 Speaker 1: that would look like. Never never had that pitch before. 697 00:33:50,680 --> 00:33:52,800 Speaker 1: So you've never been to the steak dinner where they 698 00:33:52,800 --> 00:33:54,640 Speaker 1: sit you down and you know, in the middle of 699 00:33:54,640 --> 00:33:56,200 Speaker 1: the pitch they're like, so the steaks you're eating right 700 00:33:56,240 --> 00:33:58,719 Speaker 1: now come from the farms that you could be an 701 00:33:58,720 --> 00:34:01,520 Speaker 1: investor you're gonna invest than Those are some good rebias, 702 00:34:01,680 --> 00:34:04,720 Speaker 1: right But in this way, acre trigger has made it 703 00:34:04,760 --> 00:34:07,360 Speaker 1: slightly more accessible for some folks out there who have 704 00:34:07,520 --> 00:34:09,960 Speaker 1: a bit more money to invest. We wanted to quickly 705 00:34:10,040 --> 00:34:13,880 Speaker 1: mention peer to peer lending. This is another alternative investment, 706 00:34:13,880 --> 00:34:16,640 Speaker 1: although it's kind of loot losing steam. Lending Club and 707 00:34:16,640 --> 00:34:19,040 Speaker 1: Prosper there two of the the o G companies here, 708 00:34:19,520 --> 00:34:23,680 Speaker 1: and while lending Club is no longer taking on individual investors, 709 00:34:23,800 --> 00:34:25,879 Speaker 1: Prosper they still are, but they don't have that many 710 00:34:26,000 --> 00:34:29,000 Speaker 1: loans available for you to fund from looking around on 711 00:34:29,000 --> 00:34:31,160 Speaker 1: their website a little bit. But this is something I 712 00:34:31,160 --> 00:34:33,920 Speaker 1: actually invested in Lending Club. I mean back in the 713 00:34:34,000 --> 00:34:38,120 Speaker 1: day they I mean they didn't promise super higher returns, 714 00:34:38,120 --> 00:34:40,360 Speaker 1: but they were paying out higher returns and I invested 715 00:34:40,360 --> 00:34:42,919 Speaker 1: a few grand and I actually logged on before we 716 00:34:43,040 --> 00:34:45,120 Speaker 1: hit record on this episode because I wanted to see, like, 717 00:34:45,200 --> 00:34:48,560 Speaker 1: because I can't remember like overall, what's like how did 718 00:34:48,600 --> 00:34:51,400 Speaker 1: I fare? And when you go to your holdings, you 719 00:34:51,440 --> 00:34:53,319 Speaker 1: know all that your holdings over over the course of time. 720 00:34:53,360 --> 00:34:55,560 Speaker 1: At the top, it's got like this nice big number 721 00:34:55,600 --> 00:34:58,759 Speaker 1: where it says you're weighted average rate and mine was 722 00:34:58,840 --> 00:35:00,879 Speaker 1: a little over twenty perc it and I thought, well, 723 00:35:00,880 --> 00:35:02,680 Speaker 1: I crushed it. Wait a minute, like, I don't remember 724 00:35:02,680 --> 00:35:05,280 Speaker 1: it being that great. I feel like I left lending 725 00:35:05,280 --> 00:35:07,160 Speaker 1: club with a bad taste in my mouth and I 726 00:35:07,239 --> 00:35:10,120 Speaker 1: looked lower down and I you know, that make it confusing, 727 00:35:10,160 --> 00:35:13,839 Speaker 1: perhaps on purpose, on purpose, but that that that number 728 00:35:13,880 --> 00:35:16,719 Speaker 1: doesn't include the loans that were charged off, which in 729 00:35:16,760 --> 00:35:19,160 Speaker 1: my case there was over seven hundred dollars worth of 730 00:35:19,360 --> 00:35:22,840 Speaker 1: principle that I loaned out that was never repaid, and 731 00:35:22,880 --> 00:35:25,280 Speaker 1: so when you take that into account, I actually earned 732 00:35:25,520 --> 00:35:29,440 Speaker 1: negative one percent, which totally sucks. That's lame. That is 733 00:35:29,480 --> 00:35:31,000 Speaker 1: not what you want to see. And that's the big 734 00:35:31,040 --> 00:35:35,080 Speaker 1: reason why these Pacific platforms are for the most part defunct. Yeah, yeah, 735 00:35:35,200 --> 00:35:37,600 Speaker 1: And I think those headline numbers they look really sexy 736 00:35:37,719 --> 00:35:41,040 Speaker 1: on the homepage of all of these alternative investment sites, 737 00:35:41,120 --> 00:35:43,719 Speaker 1: and you're like, all right, like I'm gonna I see 738 00:35:43,760 --> 00:35:45,279 Speaker 1: the charts and it looks like I'm gonna earn way 739 00:35:45,360 --> 00:35:48,279 Speaker 1: more and that might be the average or there's all 740 00:35:48,320 --> 00:35:50,440 Speaker 1: sorts of things you need to take into account. Matt. 741 00:35:51,000 --> 00:35:54,319 Speaker 1: You saw you have to look at the specific language, right, 742 00:35:54,360 --> 00:35:58,000 Speaker 1: because you saw weighted average returns and it's like that 743 00:35:58,120 --> 00:36:01,520 Speaker 1: is a big difference. Then overall returns. It's like, hey, 744 00:36:01,600 --> 00:36:04,279 Speaker 1: on the people who did pay you back, this is 745 00:36:04,320 --> 00:36:06,120 Speaker 1: what you earned. And you're like, that's almost like a 746 00:36:06,160 --> 00:36:08,840 Speaker 1: worthless statistic that it really is. They're just trying to 747 00:36:09,080 --> 00:36:10,719 Speaker 1: pad the numbers make you feel good about it. But 748 00:36:10,760 --> 00:36:12,400 Speaker 1: I know, I mean, there's a reason I got out 749 00:36:12,440 --> 00:36:14,120 Speaker 1: of it years ago because I knew that, like, you know, 750 00:36:14,200 --> 00:36:17,200 Speaker 1: this really isn't panning out anymore. But yeah, negative one percent. 751 00:36:17,440 --> 00:36:18,920 Speaker 1: And this all goes to show too that some of 752 00:36:18,960 --> 00:36:21,520 Speaker 1: these different platforms they come and they go, they're not 753 00:36:21,560 --> 00:36:24,760 Speaker 1: tried and true, they're not tested necessarily, and so proceed 754 00:36:24,840 --> 00:36:28,359 Speaker 1: with caution. Yes, exactly. So let's talk about how you 755 00:36:28,480 --> 00:36:31,480 Speaker 1: decide whether or not these alternative investments are right for you. 756 00:36:31,480 --> 00:36:34,120 Speaker 1: We've covered a few of the more interesting one, the ones, 757 00:36:34,160 --> 00:36:37,120 Speaker 1: the more popular ones, and we would say the key 758 00:36:37,360 --> 00:36:38,799 Speaker 1: is going back to what I said at the very 759 00:36:38,800 --> 00:36:41,000 Speaker 1: beginning to talk about all those dining fads. The key 760 00:36:41,080 --> 00:36:45,000 Speaker 1: to investing in alternative investments well is to have a 761 00:36:45,000 --> 00:36:49,040 Speaker 1: healthy diet. Let's drive home the food analogy. I'm gonna 762 00:36:49,040 --> 00:36:50,839 Speaker 1: go all the way with this one, and so in 763 00:36:50,880 --> 00:36:53,720 Speaker 1: the same way that there are fundamental principles that govern 764 00:36:53,800 --> 00:36:56,239 Speaker 1: what we should eat. Right, we need vegetables, we need 765 00:36:56,320 --> 00:36:59,120 Speaker 1: protein in our lives. Of course fruit is an important 766 00:36:59,120 --> 00:37:01,520 Speaker 1: component as well. They got those those natural vitamins that 767 00:37:01,680 --> 00:37:04,680 Speaker 1: we all need. And uh, delicious apple a day keeps 768 00:37:04,680 --> 00:37:06,600 Speaker 1: a doctor away, That's why I hear. But being a 769 00:37:06,600 --> 00:37:11,080 Speaker 1: well rounded investor means prioritizing the most important elements of 770 00:37:11,120 --> 00:37:15,160 Speaker 1: a healthy portfolio first, not going straight to the dessert, 771 00:37:15,239 --> 00:37:18,080 Speaker 1: because if you fill up on cake, you might find 772 00:37:18,560 --> 00:37:20,840 Speaker 1: that you're unhealthy at the end of the day. And 773 00:37:20,880 --> 00:37:22,480 Speaker 1: we want you to be a healthy investor. So these 774 00:37:22,520 --> 00:37:25,640 Speaker 1: alternative investments can make sense if you put them in 775 00:37:25,719 --> 00:37:28,360 Speaker 1: the right place. That's right, And of course this means 776 00:37:28,360 --> 00:37:31,520 Speaker 1: starting out first by investing in the right vehicles. We're 777 00:37:31,560 --> 00:37:34,440 Speaker 1: talking about those tax advantage accounts first, and so your 778 00:37:34,520 --> 00:37:37,640 Speaker 1: workplace retirement account, your own i RA, or maybe your 779 00:37:37,640 --> 00:37:39,600 Speaker 1: solo four O one K if you're an entrepreneur or 780 00:37:39,640 --> 00:37:44,399 Speaker 1: a freelancer. But these alternatives shouldn't be taking precedence over 781 00:37:44,480 --> 00:37:47,560 Speaker 1: the traditional. And you know, we'll be honest here the 782 00:37:47,680 --> 00:37:50,680 Speaker 1: somewhat you know, boring investment vehicles that have been around 783 00:37:50,719 --> 00:37:53,680 Speaker 1: for decades. And I will say they are boring because 784 00:37:53,920 --> 00:37:56,239 Speaker 1: like the four O one K, Like what's sexy about that? 785 00:37:56,320 --> 00:37:58,720 Speaker 1: It's it's literally named after the I R S code, 786 00:37:59,000 --> 00:38:02,280 Speaker 1: Like the line where that that allows for this provision 787 00:38:02,400 --> 00:38:05,239 Speaker 1: veno vest is so much more adorable, it's true. Or 788 00:38:05,280 --> 00:38:08,120 Speaker 1: masterworks sounds so much better they've got They've done a 789 00:38:08,160 --> 00:38:10,319 Speaker 1: much better job with their branding. Like it makes me 790 00:38:10,560 --> 00:38:12,960 Speaker 1: like the roth Ira it was named after a senator 791 00:38:13,600 --> 00:38:17,560 Speaker 1: from Delaware, Like that's why it's called the roth iras 792 00:38:17,560 --> 00:38:21,719 Speaker 1: the dude's last name. Uh. These are not sexy investing vehicles, 793 00:38:21,760 --> 00:38:23,520 Speaker 1: but they are tops when it comes to what you 794 00:38:23,520 --> 00:38:26,480 Speaker 1: should be focusing on. First. To continue the food analogy, 795 00:38:26,840 --> 00:38:29,959 Speaker 1: I feel that the right vehicles are easily the meat 796 00:38:30,280 --> 00:38:33,120 Speaker 1: your vegetarian. It's the beyond meat, right, So it doesn't 797 00:38:33,120 --> 00:38:35,320 Speaker 1: doesn't necessarily have to be from an animal or the 798 00:38:35,400 --> 00:38:38,799 Speaker 1: kale whatever, And so yeah, that's that's the first thing, 799 00:38:38,960 --> 00:38:40,719 Speaker 1: making sure you're in the right vehicles, and then next 800 00:38:40,800 --> 00:38:43,680 Speaker 1: up is the actual investments that you're making inside of 801 00:38:43,719 --> 00:38:47,120 Speaker 1: these accounts. If those tax advantaged vehicles are the meat, 802 00:38:47,360 --> 00:38:49,759 Speaker 1: then the low cost index funds are the veggies that 803 00:38:49,800 --> 00:38:53,160 Speaker 1: are all the leafy greens. So well, so well with that, right, Uh, 804 00:38:53,280 --> 00:38:55,560 Speaker 1: maybe the Brussels sprouts. They come out of the oven 805 00:38:55,640 --> 00:38:58,040 Speaker 1: nice and crispy, and we would say, don't move on 806 00:38:58,120 --> 00:39:00,719 Speaker 1: to the less healthy stuff, and you're knocking to get 807 00:39:00,719 --> 00:39:03,240 Speaker 1: out of the park. In these two areas, like popular 808 00:39:03,320 --> 00:39:08,560 Speaker 1: alternative investments, they're very accessible and they're incredibly diversified. So 809 00:39:08,880 --> 00:39:11,640 Speaker 1: if you're getting those two things right, the right vehicles 810 00:39:11,680 --> 00:39:14,520 Speaker 1: and the actual the best investments inside of those vehicles, 811 00:39:14,520 --> 00:39:17,520 Speaker 1: which are broadly diversified low cost index funds, then we 812 00:39:17,560 --> 00:39:19,879 Speaker 1: would say, yeah, maybe then you can move on. Yeah, 813 00:39:19,920 --> 00:39:22,120 Speaker 1: do you really need exposure to the French wine market 814 00:39:22,160 --> 00:39:25,359 Speaker 1: within your your investment Portfelio, It's it's nice that that's 815 00:39:25,400 --> 00:39:28,719 Speaker 1: something that you didn't have before, but we might make 816 00:39:28,719 --> 00:39:32,480 Speaker 1: the argument that you could invest in it but definitely 817 00:39:32,520 --> 00:39:34,400 Speaker 1: you want to do it sparingly. It does make for 818 00:39:34,480 --> 00:39:36,759 Speaker 1: good like party conversation, I guess, but it's not necessarily 819 00:39:36,880 --> 00:39:38,880 Speaker 1: the best way to for you to go about wealth building. Well, 820 00:39:38,920 --> 00:39:40,440 Speaker 1: so the best way to think about it, Continuing the 821 00:39:40,440 --> 00:39:42,680 Speaker 1: food analogy is that some of these alternative on all 822 00:39:42,680 --> 00:39:45,120 Speaker 1: the way with it should be like that starchy side 823 00:39:45,120 --> 00:39:48,440 Speaker 1: a right, like the mac and cheese. Because our rule 824 00:39:48,480 --> 00:39:50,480 Speaker 1: of thumb is that you should only have about five 825 00:39:50,520 --> 00:39:53,680 Speaker 1: percent of your investment dollars within these alternatives. And at 826 00:39:53,680 --> 00:39:55,439 Speaker 1: the end of the day, we don't really care which 827 00:39:55,520 --> 00:39:57,919 Speaker 1: route you go to go down, to be honest, because 828 00:39:57,960 --> 00:40:00,760 Speaker 1: if you're investing in art, whether you're invest in digital 829 00:40:00,840 --> 00:40:03,520 Speaker 1: or physical, or if you're investing in whiskey or farmland, 830 00:40:03,719 --> 00:40:06,920 Speaker 1: as long as you're keeping those investments confined to a 831 00:40:06,920 --> 00:40:09,759 Speaker 1: small percentage of your overall portfolio, we're going to be 832 00:40:09,800 --> 00:40:12,160 Speaker 1: happy about that. And for all the reasons, all the 833 00:40:12,200 --> 00:40:14,759 Speaker 1: cons that we listed out, uh, we feel that you 834 00:40:14,760 --> 00:40:17,919 Speaker 1: should limit your exposure there. I mean, just the risk 835 00:40:17,960 --> 00:40:22,000 Speaker 1: and the volatility associated with these alternatives. For instance, your cryptode, 836 00:40:22,239 --> 00:40:25,120 Speaker 1: it might be worth a lot today and very little tomorrow, 837 00:40:25,480 --> 00:40:27,239 Speaker 1: is like dipping your toe in with money that you 838 00:40:27,280 --> 00:40:30,440 Speaker 1: can afford to lose is what we would recommend. If 839 00:40:30,440 --> 00:40:32,920 Speaker 1: you're in money geared number seven, you can take on 840 00:40:33,120 --> 00:40:35,080 Speaker 1: more risk if that's the direction that you want to 841 00:40:35,120 --> 00:40:37,600 Speaker 1: go in, but for most folks, we would recommend keeping 842 00:40:37,680 --> 00:40:41,279 Speaker 1: your exposure to these alternatives incredibly low. Yeah, that's right. Yeah, 843 00:40:41,320 --> 00:40:43,399 Speaker 1: if you've got money to blow because you have been 844 00:40:43,440 --> 00:40:46,600 Speaker 1: so successful with your boring investing, then you can maybe 845 00:40:46,640 --> 00:40:49,799 Speaker 1: up that beyond five percent of your overall investments, but 846 00:40:49,880 --> 00:40:52,000 Speaker 1: only if you're kind of in that space where where 847 00:40:52,000 --> 00:40:56,040 Speaker 1: you've basically reached financial independence, and so most people should 848 00:40:56,160 --> 00:40:58,879 Speaker 1: keep it to a minimum. And inside of that, yeah, like, 849 00:40:58,880 --> 00:41:00,560 Speaker 1: like you said, Matt, whichever out you want to go, 850 00:41:00,600 --> 00:41:02,920 Speaker 1: whatever floats your boat, whatever you're kind of interested in, 851 00:41:03,320 --> 00:41:05,920 Speaker 1: go for that um and and then continuing the analogy, 852 00:41:06,000 --> 00:41:08,319 Speaker 1: dessert would be something along the lines of throwing a 853 00:41:08,360 --> 00:41:12,480 Speaker 1: hunter bucks into a completely unproven alt coin or buying 854 00:41:12,880 --> 00:41:15,040 Speaker 1: just a super cheap n f T or you're like, 855 00:41:15,160 --> 00:41:17,040 Speaker 1: let's see what happens here, or even like a meme stock. 856 00:41:17,080 --> 00:41:19,080 Speaker 1: We didn't even talk about those during this episode because 857 00:41:19,080 --> 00:41:20,799 Speaker 1: that's I mean, that's a tradition. It's a stock, Like 858 00:41:20,800 --> 00:41:24,000 Speaker 1: there's nothing alternative about that, but mean stocks specifically. I 859 00:41:24,000 --> 00:41:26,120 Speaker 1: mean that's it's pure speculation if you're gonna, you know, 860 00:41:26,200 --> 00:41:28,640 Speaker 1: jump in on a m C. Yeah, and speculation, we 861 00:41:28,640 --> 00:41:30,719 Speaker 1: would say, is the dessert here. It's one of those 862 00:41:30,760 --> 00:41:33,520 Speaker 1: things where a little goes a long way and you 863 00:41:33,520 --> 00:41:36,000 Speaker 1: should really keep it to a minimum. That's not even 864 00:41:36,040 --> 00:41:37,840 Speaker 1: really included in that five percent. That's something that you 865 00:41:37,920 --> 00:41:40,279 Speaker 1: just kind of want to like avoid for the most part. 866 00:41:40,520 --> 00:41:44,160 Speaker 1: And yeah, these alternative investments are are really only something 867 00:41:44,160 --> 00:41:46,480 Speaker 1: you should be considering if you're eating your meat and 868 00:41:46,560 --> 00:41:48,880 Speaker 1: veggies on the rag, like you're you're doing that boring 869 00:41:48,920 --> 00:41:53,680 Speaker 1: investing every two weeks with with those automatic deductions from 870 00:41:53,680 --> 00:41:56,040 Speaker 1: your paycheck. Don't skip the main course and get that 871 00:41:56,080 --> 00:41:59,439 Speaker 1: plate full of mashed potatoes, uh like. Because investing is great. 872 00:41:59,440 --> 00:42:02,520 Speaker 1: It's gonna help you build wealth over time if you 873 00:42:02,640 --> 00:42:04,960 Speaker 1: take the slow and steady route. But if you instead 874 00:42:05,000 --> 00:42:08,440 Speaker 1: opt for the more spectacular, the more dazzling route, the 875 00:42:08,520 --> 00:42:11,520 Speaker 1: chances of getting burned and losing money they go up. 876 00:42:11,719 --> 00:42:14,200 Speaker 1: The chances of getting eaten alive by fees and seeing 877 00:42:14,200 --> 00:42:17,840 Speaker 1: inferior returns that goes up to and so those small 878 00:42:17,920 --> 00:42:22,359 Speaker 1: bets in these alternative investing spaces. They could potentially help 879 00:42:22,440 --> 00:42:24,680 Speaker 1: increase your rate of return, they could provide a little 880 00:42:24,680 --> 00:42:26,960 Speaker 1: bit of fun when it comes to investing, but they 881 00:42:26,960 --> 00:42:28,959 Speaker 1: can also take up too much of your brain space, 882 00:42:29,000 --> 00:42:31,759 Speaker 1: and they can potentially distract you from what's important. So 883 00:42:32,000 --> 00:42:35,400 Speaker 1: hopefully you can take this well rounded view of alternative 884 00:42:35,480 --> 00:42:38,520 Speaker 1: investments into how you move forward. These are some cool 885 00:42:38,560 --> 00:42:40,799 Speaker 1: websites and it's neat to see what they're up to. 886 00:42:41,239 --> 00:42:44,760 Speaker 1: But for most people, a very very small amount goes 887 00:42:44,840 --> 00:42:47,760 Speaker 1: a long way, that's right, And a very small amount 888 00:42:47,800 --> 00:42:50,239 Speaker 1: of this beer, I would say went a long way. 889 00:42:50,520 --> 00:42:52,399 Speaker 1: That being said, I wish we would have had more. Dude, 890 00:42:52,400 --> 00:42:55,360 Speaker 1: this beer was so stinking good. Again, this one was 891 00:42:55,400 --> 00:42:58,760 Speaker 1: called Imaginary Grace. This is by Monday Night Brewing, donated 892 00:42:58,760 --> 00:43:01,360 Speaker 1: to the show by Brian. Thank you so much. We 893 00:43:01,400 --> 00:43:04,359 Speaker 1: appreciate you. But Joel, what were your thoughts on this one? 894 00:43:04,440 --> 00:43:06,399 Speaker 1: So this one brought me back with the first sip 895 00:43:06,640 --> 00:43:10,160 Speaker 1: immediately to Belgium because Emily and I when we went, 896 00:43:10,239 --> 00:43:12,600 Speaker 1: we were literally in Brussels for two days. We went 897 00:43:12,600 --> 00:43:16,360 Speaker 1: to Cantion both days. Jealous, I've got to make it 898 00:43:16,400 --> 00:43:20,879 Speaker 1: over there, take that money trip. It's I mean, it's 899 00:43:20,880 --> 00:43:22,399 Speaker 1: free right. I don't think you can say it out 900 00:43:22,400 --> 00:43:25,799 Speaker 1: loud on the podcast, but so yeah, it really brought 901 00:43:25,800 --> 00:43:28,279 Speaker 1: me back there. There was just delightful days with my 902 00:43:28,320 --> 00:43:31,919 Speaker 1: wife and the beers were incredible, and this beer had 903 00:43:32,000 --> 00:43:35,000 Speaker 1: so much of those vibes happening, like this is just 904 00:43:35,000 --> 00:43:37,759 Speaker 1: one of my favorite beer styles and it's a little funky, 905 00:43:37,880 --> 00:43:40,759 Speaker 1: somewhat sour, had that dry finish and so yeah, big 906 00:43:40,760 --> 00:43:42,680 Speaker 1: thanks to Brian for sharing this one with us because 907 00:43:43,000 --> 00:43:46,040 Speaker 1: it was a delight to drink. And they made this 908 00:43:46,160 --> 00:43:49,799 Speaker 1: beer using that traditional Belgian method and it came through. Man, 909 00:43:49,960 --> 00:43:52,280 Speaker 1: they're doing a great job like this. This is definitely 910 00:43:52,320 --> 00:43:54,680 Speaker 1: in the league of some of those great Belgian beers 911 00:43:54,680 --> 00:43:57,080 Speaker 1: I've had. Yeah, well, so how they make them specifically 912 00:43:57,120 --> 00:43:59,600 Speaker 1: over there in Belgium, I mean they leave it's an 913 00:43:59,600 --> 00:44:02,640 Speaker 1: open container, and it's and it's naturally fermented by the 914 00:44:02,719 --> 00:44:05,160 Speaker 1: yeasts in the air, and that's exactly how they made 915 00:44:05,200 --> 00:44:07,360 Speaker 1: this one. It's spontaneously from me to say open container. 916 00:44:07,440 --> 00:44:10,560 Speaker 1: These are basically they're the size of like an enormous room, 917 00:44:10,719 --> 00:44:13,640 Speaker 1: like imagine a Greek bath, but filled with beer exactly 918 00:44:14,280 --> 00:44:18,160 Speaker 1: and maybe yeah, certainly more high higgiena Acre certainly cleaner. 919 00:44:18,360 --> 00:44:20,160 Speaker 1: And so Monday night they've got what they call their 920 00:44:20,280 --> 00:44:22,919 Speaker 1: it's a it's a cool ship, what they've which they've 921 00:44:22,960 --> 00:44:26,040 Speaker 1: affectionately called the crunk Ship. But it's this you know, 922 00:44:26,160 --> 00:44:29,880 Speaker 1: stainless steel giant vat that's like a giant bath essentially, 923 00:44:30,320 --> 00:44:32,399 Speaker 1: and when it's cold enough, they only do I think 924 00:44:32,480 --> 00:44:34,000 Speaker 1: that you can only do it when it's cold enough 925 00:44:34,040 --> 00:44:37,319 Speaker 1: here or specifically where we drop below freezing in order 926 00:44:37,320 --> 00:44:39,239 Speaker 1: to yea the right east, because if it's if it's 927 00:44:39,280 --> 00:44:41,160 Speaker 1: too warm, I think there's like too many yeasts and 928 00:44:41,200 --> 00:44:43,600 Speaker 1: it gets funky. I think it gets too if it 929 00:44:43,600 --> 00:44:46,359 Speaker 1: gets funky, too funky, too fast, uh, and you kind 930 00:44:46,360 --> 00:44:49,120 Speaker 1: of have to isolate it with, you know, below certain temperatures. 931 00:44:49,280 --> 00:44:51,319 Speaker 1: They did that three different times, so they have three 932 00:44:51,320 --> 00:44:54,520 Speaker 1: different years of this beer that are blended together in 933 00:44:54,600 --> 00:44:57,400 Speaker 1: order to make this specific beer imaginary grace and everything 934 00:44:57,400 --> 00:45:00,000 Speaker 1: you said, dude was on point. It was sour, funky, 935 00:45:00,360 --> 00:45:02,719 Speaker 1: but it wasn't too acidic. Sometimes with American sours they 936 00:45:02,760 --> 00:45:05,719 Speaker 1: can get crazy acidic and really aggressive, but this one 937 00:45:05,840 --> 00:45:09,000 Speaker 1: was just like chill and like laid back, like you're 938 00:45:09,080 --> 00:45:10,640 Speaker 1: hanging out in Europe, you know. So it's like it's 939 00:45:10,680 --> 00:45:13,480 Speaker 1: got more of the European lifestyle you know, going on 940 00:45:13,560 --> 00:45:16,160 Speaker 1: within this bottle. But this was a fantastic beer and 941 00:45:16,200 --> 00:45:17,680 Speaker 1: I'm glad that you don't got to share this one 942 00:45:17,680 --> 00:45:19,560 Speaker 1: on the show. Me too, Me too, man. Yeah, thanks 943 00:45:19,560 --> 00:45:22,600 Speaker 1: again to Brian for donating this one. We appreciate it. 944 00:45:22,600 --> 00:45:25,200 Speaker 1: It was yeah, fun little trip down memory lane drinking 945 00:45:25,200 --> 00:45:27,319 Speaker 1: this delicious beer. But that's gonna do it, Matt for 946 00:45:27,440 --> 00:45:29,320 Speaker 1: for this episode. For folks who want the show notes 947 00:45:29,480 --> 00:45:31,200 Speaker 1: for the episode, you can find them up on our 948 00:45:31,200 --> 00:45:33,640 Speaker 1: website at how to money dot com. That's right, And 949 00:45:33,680 --> 00:45:35,880 Speaker 1: if you haven't left us a review yet over at 950 00:45:35,880 --> 00:45:39,520 Speaker 1: Apple Podcasts or wherever you listen, we would really appreciate that. 951 00:45:39,960 --> 00:45:42,080 Speaker 1: We would love it if you left us a solid 952 00:45:42,080 --> 00:45:44,640 Speaker 1: review and shared how maybe you've taken some of the 953 00:45:44,680 --> 00:45:46,799 Speaker 1: knowledge that you've learned from the show to better your 954 00:45:46,840 --> 00:45:50,000 Speaker 1: financial self. That would help others to find the show. 955 00:45:50,400 --> 00:45:53,040 Speaker 1: And a big thank you in advance. Joel. That's gonna 956 00:45:53,080 --> 00:45:55,200 Speaker 1: be it for this episode, buddy. Until next time, Best 957 00:45:55,200 --> 00:46:05,440 Speaker 1: Friends Out, Best Friends Out. M