Speaker 1: Welcome to How the Money. I'm Joel and I am Matt,
Speaker 1: and today we're discussing why ownership is the key to
Speaker 1: wealth building. Joel, this actually kind of takes me back
Speaker 1: to my skating rink days, where if you showed up
Speaker 1: with your own skates, your own quads, or even better,
Speaker 1: if you showed up with your own inline skates, you
Speaker 1: were super cool. So we're not talking about ownership whether
Speaker 1: you show up with your own skates or do you
Speaker 1: rent the uh the skates that are already there, the
Speaker 1: nasty brown ones. But we're talking about what we do
Speaker 1: with our money when it comes to investing, primarily. But
Speaker 1: we're dedicating an entire episode to changing the way you
Speaker 1: think about how you spend your money, what we spend
Speaker 1: our money on, and we're gonna gonna essentially, we're gonna
Speaker 1: trying to introduce you to this paradigm shift that we
Speaker 1: hope changes the way that you view all of your
Speaker 1: expenses moving forward. Those roller skating days, man, those are
Speaker 1: your salad days too. It's only been down hills, is them?
Speaker 1: So wait, when you say salad days, I always hear saladays,
Speaker 1: and like I always think like young and immature, not
Speaker 1: they're not like the golden days, right, Like is that
Speaker 1: how that's how you think your best years? Best years?
Speaker 1: I always hear saladays, and I think like you're green
Speaker 1: and your immature, like like you've got a lot of
Speaker 1: years of growth ahead of you. Okay, all right, that
Speaker 1: makes sense makes I don't know. I think you can
Speaker 1: use it the way you're using it as well, kind
Speaker 1: of like the pinnacle like, oh, the good old days. Well,
Speaker 1: I'm pretty sure that was for you, right, just like
Speaker 1: taking your inline skates out there on the on the roll.
Speaker 1: So I didn't have I no, no, you cann I
Speaker 1: was like I didn't even splurge on the speed skates.
Speaker 1: You know, you could like upgrade and get the instead
Speaker 1: of the brown crappy leather skates, you could upgrade and
Speaker 1: get the black ones, and those had I don't know,
Speaker 1: like wheels, extra fast ball bearings and so those jokers
Speaker 1: would haul Like for real, I didn't need that, man,
Speaker 1: I just throw those standard skates on my feet and
Speaker 1: I'll just like keeps getting until I had, you know,
Speaker 1: like twenty blisters on each foot, on each foot always.
Speaker 1: I had so many blisters from skating on a on
Speaker 1: a Friday after school. Yeah, well before we get into
Speaker 1: talking about my ownership is such an important concept, and
Speaker 1: I agree, man, it is paradigm shifting. I just wanted
Speaker 1: to quickly mention my sister and brother in law they
Speaker 1: just bought a scooter to zip around town. They actually did.
Speaker 1: Yeah you're talking about they that they were considering it,
Speaker 1: and I feel like, scooter, you have to actually define it. Now.
Speaker 1: There's so many different variations of scooters, like a not
Speaker 1: a bird scooter, No, not one of those, not one
Speaker 1: of those, but one of the the ones you actually
Speaker 1: sit on, Like they can get two people on their scooter. Uh,
Speaker 1: and it's like dumb and dumbers say exactly exactly. So
Speaker 1: it's gas powered and it's I think. And I just
Speaker 1: wanted to mention that this was something that they've gone
Speaker 1: down to becoming a one car family. But they were like,
Speaker 1: you know what, we kind of feel the need for
Speaker 1: some other mode of transportation that isn't a bike, because
Speaker 1: I know they should. I mean, they've got bikecause I
Speaker 1: see him rinning around the neighborhood. Actually they lived nest
Speaker 1: to us, but they wanted something else. And I will
Speaker 1: say that a scooter like that is a perfect in
Speaker 1: between vehicle for a lot of people. And one of
Speaker 1: the great things about these scooters one they're not very expensive. Yeah,
Speaker 1: they're not very expensive to maintain either, if you get
Speaker 1: the right one, by the way, because you can get
Speaker 1: some really crummy ones. You can cheap out buying a scooter,
Speaker 1: and oftentimes those don't last long at all. But yeah,
Speaker 1: they opted for something decent, and so I just wanted
Speaker 1: to mention that sometimes, you know, one of these nicer scooters,
Speaker 1: it doesn't cost a whole lot of money. Uh, and
Speaker 1: it's really not that expensive to ruy to maintain, and
Speaker 1: it could be a better decision than having a second
Speaker 1: car or you know, even a third car in the
Speaker 1: case of some families. This might help you get some
Speaker 1: of those trips in without needing to hop in the car.
Speaker 1: I'm just gonna wait on the day that Evan pulls
Speaker 1: up in front of our house and just calls over.
Speaker 1: He's like, I get seventy miles per gallon on this hog.
Speaker 1: There are actually two guys who have you have you
Speaker 1: seen this story going around internet. There's these two guys
Speaker 1: who did that trip, the dumb dumb, dum dumber trip
Speaker 1: you know, up through Colorado, or what ever, like to aspens. Yeah,
Speaker 1: that happened, uh, I guess a couple of months ago.
Speaker 1: But maybe we'll link to it in the show notes.
Speaker 1: Okas pretty funny. I want to read that they like
Speaker 1: dressed up like him as well in the two tuxedoses,
Speaker 1: don't orange in the like they had on like I
Speaker 1: feel like a member's only style jacket. Can you think
Speaker 1: you know what I'm talking about? Yeah? Um, yeah, it's
Speaker 1: been a while since I seen it, but still a classic.
Speaker 1: It's still burned into my memory of how fantastic it was. Yeah,
Speaker 1: for classic. Alright, Matt, let's move on. Let's mention the
Speaker 1: beer that we're having on the show today. This one
Speaker 1: is called Money Blend by American soul Lara and this
Speaker 1: is a perfect name money for beer, exactly said to
Speaker 1: us by a listener, by the way, that's right, Yeah,
Speaker 1: listener James sent this one away. So James, big thanks
Speaker 1: to you. Looking forward to having this one, and we'll
Speaker 1: give our thoughts on this beer at the end of
Speaker 1: the episode. You know what a perfect beer for how
Speaker 1: the money? All right, Well, let's move on, Matt. Let's
Speaker 1: talk about why ownership is the key to wealth building
Speaker 1: and We put the in all caps because we believe
Speaker 1: ownership is this crucial, essential building block of being able
Speaker 1: to grow your money the time. It's often overlooked as well,
Speaker 1: because there are other practices that people tend to employ
Speaker 1: when they're looking to, you know, save up some more money. Right,
Speaker 1: investing doesn't come as natural to us as some other practices. Yeah,
Speaker 1: and I still I still remember, you know, becoming a
Speaker 1: dad for the first time, Matt. Uh, it was like
Speaker 1: this immediate game changer for me somehow in one moment,
Speaker 1: by just by holding my brand new baby girl, I
Speaker 1: was able to quickly see so many of the ways
Speaker 1: in which my life was kind of currently revolving all
Speaker 1: around me. And like, even even though I've been married
Speaker 1: for a few years and I've been able to see
Speaker 1: some of those aspects, you know, during during those first
Speaker 1: years of marriage, becoming a dad really cemented that for me.
Speaker 1: And it was like a game changer in you know,
Speaker 1: what it looks like to serve other people and actually
Speaker 1: to shed some of that selfishness that I would really
Speaker 1: come accustomed to. Uh. And Yeah, it also helped me
Speaker 1: see my parents in a new light instantaneously too, Like
Speaker 1: I was able to see maybe their parenting mistakes differently
Speaker 1: as I started to make similar mistakes in parenting myself.
Speaker 1: And yeah, we don't really get many paradigm shifting experiences
Speaker 1: in our lives, right where just in an instant we
Speaker 1: see everything with clarity, but you can look differently because
Speaker 1: I was there, you know, Kate, and I shoot up
Speaker 1: the next day glow about me or something of that
Speaker 1: is that. I think it was just the adrenaline for
Speaker 1: from having labored with Emi, labor for hours whatever, almost
Speaker 1: a day, right, but those are the salad days. No,
Speaker 1: those are the salad days. But yeah, I think you
Speaker 1: and I we believe that understanding the necessity of ownership
Speaker 1: and the long term benefits that ownership provides can provide
Speaker 1: like a similar epiphany for people that are producing financial independence,
Speaker 1: just thinking about the way we invest and realizing the
Speaker 1: power of ownership is really powerful. Yeah. Absolutely, I mean
Speaker 1: to put it bluntly, you know, if you want to
Speaker 1: stay poor, well don't own anything, right, And I don't know,
Speaker 1: maybe that's kind of harsh, but it's true because in
Speaker 1: our consumer driven society, we actually are encouraged to buy things.
Speaker 1: It's just that we're god on to purchase the wrong things. Uh,
Speaker 1: And it's exactly that we're pushed to buy stuff that
Speaker 1: quickly loses its value instead of directing our money and
Speaker 1: ownership of different assets that will grow our wealth. And
Speaker 1: there's what we see around us in media and advertisements
Speaker 1: and the general keeping up with the joneses vibe that
Speaker 1: we feel because of social media and peer pressure. This
Speaker 1: all directs us to pursue the wrong things, buying more stuff.
Speaker 1: But oftentimes, man that pursuit leaves us wanting more, and
Speaker 1: it keeps us from the more important work of becoming owners.
Speaker 1: And specifically we're talking here about owners of things that
Speaker 1: gain value. That is what will provide the real financial
Speaker 1: freedom in our lives. Yeah. Yeah, it's really important to
Speaker 1: own the right things, right, Like some some places that
Speaker 1: we put our money will cause our net worth to
Speaker 1: go up over time, while other places that we put
Speaker 1: our money, we'll cause it to go down. You know,
Speaker 1: Obviously we need to consume some things, right, Like we
Speaker 1: can't put of our resources towards ownership or we'd starve.
Speaker 1: Compare that grocery budget down from to zero, yeah, exactly,
Speaker 1: And let's just dumpster dive for dinner every night probably, Yeah,
Speaker 1: it's probably not going to be a fund, you know,
Speaker 1: I'm gonna be able to do that for long. But
Speaker 1: knowing the difference between purchase in an investment is crucial,
Speaker 1: and that that might sound stupid. You might say, I
Speaker 1: know what that is, like that that's a simple distinction
Speaker 1: and you don't have to spell it out for me.
Speaker 1: But Matt, I've just heard so many folks refer to
Speaker 1: consumer purchases as an investment. Um and maybe it's just
Speaker 1: petty on my part, but owners, I think, think differently,
Speaker 1: and just that mindset shift is powerful. Developing an owner
Speaker 1: mindset means that you're prioritizing, uh, the long term, and
Speaker 1: I think it's a really exciting concept for people to
Speaker 1: grasp onto two as they're striving towards financial independence. Yeah,
Speaker 1: and you know, as we're talking about buying the right stuff,
Speaker 1: Like we were joking about how a bike could or
Speaker 1: couldn't be an investment, but obviously really it's not, and
Speaker 1: it's it's still one of the best consumer purchases you
Speaker 1: can make, but it's not an investment exactly. Yeah. Yeah,
Speaker 1: I mean, so for the sake of the show, you know,
Speaker 1: we define an investment as money that you put towards
Speaker 1: something that we expect to steadily increase in value over
Speaker 1: a number of years. And yeah, you know, as much
Speaker 1: as we love our bikes, were not expecting them to
Speaker 1: inherently gain and value. You can't expect to sell your
Speaker 1: bike three years from now out of profit. Now, you know,
Speaker 1: there might be tremendous value, tremendous enjoyment that we receive
Speaker 1: from our bikes, but the object itself, uh, isn't going
Speaker 1: to increase in value. And similarly, you might hear someone
Speaker 1: say that new clothes for work, like that's that's that's
Speaker 1: also an investment. I need to do this in order
Speaker 1: to get ahead, to get that promotion. Nope, you don't.
Speaker 1: That is not how it works. Like you won't be
Speaker 1: able to yourself. Yeah, Uh, those value that the value
Speaker 1: of those clothes is not going to be higher in
Speaker 1: a few years. Uh, you're not gonna gain more money
Speaker 1: from selling those clothes and in three to five, ten
Speaker 1: years whatever than the money that you pay for them
Speaker 1: right now. Uh. You certainly will look nice and you
Speaker 1: look professional, but it is not an investment. So that's
Speaker 1: one of the big differences between purchases that bring you
Speaker 1: value compared to actual investments, and we're talking about investments
Speaker 1: and owning those today on the show. Yeah, so so
Speaker 1: let's let's talk about the continuum of ownership, Matt, because
Speaker 1: sometimes saving money can accidentally become the top goal in
Speaker 1: somebody's life. And I think some of our listeners maybe
Speaker 1: fall into that camp where right now they are in
Speaker 1: the phase where they just have to start saving. And
Speaker 1: you gotta start somewhere, right You've gotta be able to
Speaker 1: cut down your expenses, uh increase the gap so that
Speaker 1: you can and are able to save more of your
Speaker 1: money over time. And that is the first thing that
Speaker 1: you should be doing, by the way, is that is
Speaker 1: making sure that you're saving money so that that money
Speaker 1: is available as an emergency fund in a savings or
Speaker 1: a checking account. But some people, some of our listeners
Speaker 1: might be so risk averse that they stay in that
Speaker 1: space and they don't make the leap to ownership. And
Speaker 1: so you might be of the mindset that, well, I'm
Speaker 1: not spending all my money anymore, I'm saving some and
Speaker 1: you might be super proud of yourself, and like we said,
Speaker 1: that's the first step. That's great, it's a start, but
Speaker 1: saving money is really just the absence of spending. It's
Speaker 1: it's obviously a crucial thing that needs to be mastered
Speaker 1: in the area of personal finance. But just doing that
Speaker 1: doesn't mean that you're on the all important path to ownership.
Speaker 1: And yeah, sure, sure you've got more cash on hand now,
Speaker 1: but what are you actually doing with that money? Becoming
Speaker 1: an owner means thinking beyond just the realm of budgeting
Speaker 1: and frugality. Matt, I think reality is a skill. It's
Speaker 1: a good skill. It's an important scale. I think if
Speaker 1: we leave our personal financial knowledge there in the camp
Speaker 1: of frugality, though, we're missing out on a whole other section,
Speaker 1: probably the most important section growing our wealth, becoming owners. Yeah. Absolutely, again,
Speaker 1: it kind of makes me takes me back to the
Speaker 1: seven money gears what we talked about here in the show.
Speaker 1: But imagine, and I know this is hard because most
Speaker 1: folks don't have stick shifts, but imagine you've got a
Speaker 1: stick shift and you're in that first gear and that
Speaker 1: gets you off the line and you're going But I mean,
Speaker 1: what are you gonna talk about at like ten miles
Speaker 1: per hour? I mean, you can't go fast in first
Speaker 1: gear without completely blowing up your engine. Right, You're gonna
Speaker 1: just destroy it. But that's in a way, that's what
Speaker 1: we're talking about here. When it comes to your money,
Speaker 1: You're going to limit yourself if all you're doing is
Speaker 1: just saving your money. Like sure, you'll have maybe a
Speaker 1: massive emergency fund that you have a lot of liquid
Speaker 1: funds in the bank, but that is not the goal.
Speaker 1: We want you to gain speed, and that's why you
Speaker 1: have to shift to the other gears where you are
Speaker 1: going to be investing your money. And man, there's another
Speaker 1: problem too when you have all this money just sitting there,
Speaker 1: maybe in your savings or your checking account, because you know,
Speaker 1: in those moments or phases of life where maybe you
Speaker 1: have your head in the right place, you know you're
Speaker 1: not spending and instead you're funneling that money into your
Speaker 1: savings account. Uh, there's gonna be times in your life
Speaker 1: where that's going to be easier to do than other times. Right, Like,
Speaker 1: maybe you just got a new job, you've got a
Speaker 1: higher salary, you're busy with work, so maybe you're not
Speaker 1: spending much money at all. That is a great first step,
Speaker 1: but then they're gonna be times where you you might
Speaker 1: feel a little bored, right, and you look and see
Speaker 1: all this extra accessible cash just sitting there in your
Speaker 1: bank account, and you're gonna be tempted to spend it.
Speaker 1: You know, why not get a new car? You earned
Speaker 1: all that money. Maybe it's time to splurage on a
Speaker 1: on a peloton they seemed pretty cool, even though you
Speaker 1: can't run on them without paying run although maybe they've
Speaker 1: updated that that software problem by now. But essentially, like
Speaker 1: this is almost like an argument against savings. We want
Speaker 1: you to have enough savings in the bank that's liquid,
Speaker 1: that acts as a cushion for you. But beyond that,
Speaker 1: we do not want you to have that money just
Speaker 1: sitting there that's accessible. We want you to invest that money.
Speaker 1: Having too much savings it almost burns a hole in
Speaker 1: your pocket, you know, and you and having some of
Speaker 1: that money in investments owning things kind of ties that
Speaker 1: money up in a positive way, like it's building your
Speaker 1: net worth, but it's also not readily accessible for you
Speaker 1: to spend, and that's a good thing. So yeah, going
Speaker 1: going back to the idea of the continuum of ownership.
Speaker 1: When you buy items, even purchases that bring you a
Speaker 1: lot of joy and value, those objects drop in value
Speaker 1: right over time. Uh. Some more quickly than others, like
Speaker 1: buying a new car. Uh, the initial depreciation hit is rapid, right,
Speaker 1: and over the first three or four years, your car
Speaker 1: is going to go down in value by on average,
Speaker 1: And so yeah, that means that your net worth is
Speaker 1: decreasing at the same time, think about a chart that
Speaker 1: maybe looks the opposite of the way the SP five
Speaker 1: has looked over the over the last ten years. And
Speaker 1: that's what you're doing when you're buying consumer goods that
Speaker 1: rapidly depreciate. And then yeah, when you're sitting on your
Speaker 1: money as cash, you flatlined. Right, your line isn't going down,
Speaker 1: but it's also not going up. It's just not doing
Speaker 1: much of anything. But when you invest your money and
Speaker 1: you own the right assets, the line on that chart,
Speaker 1: it's gonna grow, it's gonna go up into the right
Speaker 1: and that is the key to wealth building. Ownership is
Speaker 1: how you get their. Ownership is how you build wealth.
Speaker 1: And so, Matt, there are three main ways to become
Speaker 1: an owner in this country. We'll talk about them from
Speaker 1: easiest to hardest, and let's kind of discuss maybe how
Speaker 1: our listeners should go about the process of becoming an owner.
Speaker 1: Let's get to that right after this break. All right,
Speaker 1: we're back and we are talking about the key to
Speaker 1: wealth building and Jil, let's talk about some of the
Speaker 1: most effective ways to pursue ownership. Uh, and investing in
Speaker 1: the market is by far the easiest path to ownership.
Speaker 1: I love easy paths, Matt gonna li who doesn't. I
Speaker 1: don't want to climb everest. If you've got me like
Speaker 1: an easy little hike, I'm in the little nice hike
Speaker 1: path around the lake like that sounds more attainable. But
Speaker 1: even probably not too much elevation change as easy as
Speaker 1: it is, here's the problem. Nearly fifty percent of Americans
Speaker 1: have almost zero exposure to the stock market. This is
Speaker 1: according to Gallop, and that's a real problem. Man. That
Speaker 1: means that essentially half of Americans aren't building wealth. And
Speaker 1: what is basically the simplest way to do it buying
Speaker 1: index funds that allow you to share in the gains
Speaker 1: of some of the biggest businesses and industries in our country.
Speaker 1: Uh and even in the entire world. There are, of course,
Speaker 1: many reasons that like so many folks aren't investing. I
Speaker 1: think a lack of financial literacy is is one. And
Speaker 1: you know, truly not having enough money to be investing
Speaker 1: is another. Real wages adjusted for inflation, actually haven't kept
Speaker 1: up with the rising costs, which has squeezed the budgets
Speaker 1: of many Americans. But we also know that there is
Speaker 1: a big swath of that fifty who could be investing
Speaker 1: in pursuing ownership, but they've actually decided to put it
Speaker 1: on the back Learner, they don't feel that it's important.
Speaker 1: And if that's you, we wouldn't convince you to do
Speaker 1: something different with your money today. Starting sooner as opposed
Speaker 1: to later is important, and I think there are a
Speaker 1: lot of people if you talk to him now, they
Speaker 1: would say, I wish I'd started earlier because of the
Speaker 1: compounding returns that you're going to experience the longer you
Speaker 1: stay invested. So let's talk about that time frame. Maat Like,
Speaker 1: when you invest with an ownership mentality, you are buying
Speaker 1: for the long haul. There's a difference between owning and speculating,
Speaker 1: and I think a lot of what we've seen recently
Speaker 1: is more of the speculating Friday right, short term ownership
Speaker 1: isn't really ownership at all, And that's just not what
Speaker 1: we're talking about. That's not what you and I are
Speaker 1: all about. So, yeah, could you make a quick buck
Speaker 1: from buying Meme stocks or from some quick investments in crypto, Yeah,
Speaker 1: it's possible, right, But but owners are less focused on
Speaker 1: getting rich quick by trying to time the market because
Speaker 1: that path is fraught with pitfalls, and uh, yeah, you
Speaker 1: could potentially lose a lot in a short amount of time.
Speaker 1: Real owners by meaningful assets that they planned to hold
Speaker 1: for years and years and preferably for multiple decades. So yeah,
Speaker 1: when it comes to being an owner, Matt and I say,
Speaker 1: it's really really important to be in it for the
Speaker 1: long haul, to be buying share in companies basically all
Speaker 1: the companies ideally and holding them for the long haul. Yeah,
Speaker 1: And like you said, we've seen a pretty dramatic uptick
Speaker 1: in that speculative type of investing over the last few years,
Speaker 1: especially over the last maybe eighteen months. I think that
Speaker 1: that rise in investing has a lot to do with
Speaker 1: the ability for folks to be able to trade, buy
Speaker 1: and sell stocks on their phones, right with different apps
Speaker 1: like robin Hood. There's pros and cons, but at the
Speaker 1: same time, it makes it too accessible if you can
Speaker 1: just sit there, pull out your phone, while you're waiting
Speaker 1: on the light to turn green or something like that,
Speaker 1: and all of a sudden, you've like, you know, sold
Speaker 1: some stocks just because you had a feeling in your gut,
Speaker 1: just because somebody texted you was just like hey, by this.
Speaker 1: It's like, that's just what you ate this morning. That's
Speaker 1: not a good reason to trade. Yeah, but again, this
Speaker 1: is basically short term trading of assets, where you're hoping
Speaker 1: to make a quick buck, and that is not our style.
Speaker 1: A long time ago, back in the nineties. Uh, there's
Speaker 1: this quote by Warren Buffett, and he said that if
Speaker 1: you aren't willing to own a stock for ten years,
Speaker 1: don't even think about owning it for ten minutes. I
Speaker 1: love that the best investors have been able to view
Speaker 1: their their their investments as buying a piece of a business,
Speaker 1: not just buying a piece of paper, not just buying
Speaker 1: a number on the screen, not just buying a feeling,
Speaker 1: which oftentimes is what's happening with these day traders now.
Speaker 1: And so that subtle shift in thinking is important. And uh,
Speaker 1: it'll it'll feel your likelihood of you know, taking the
Speaker 1: long term approach, and that's what we want folks to do. Yeah,
Speaker 1: I agree, man. I think if all you see is
Speaker 1: numbers on a screen and you don't see the underlying
Speaker 1: thing that you own, the asset that you have just purchased,
Speaker 1: then you're just not going to think about it properly.
Speaker 1: So let's give a couple of examples maybe of how
Speaker 1: this plays out, of how becoming an owner would make
Speaker 1: you rich, whereas instead consuming that money would do the opposite.
Speaker 1: For instance, if you were to have bought Tesla stock
Speaker 1: instead of buying an actual Tesla when they put out
Speaker 1: the first model, as when when that came on the market,
Speaker 1: you would be a multimillionaire, right Uh. Buying that fancy
Speaker 1: new electric vehicle nine years ago would have set you
Speaker 1: back seventy seven thod dollars. It's a lot of money.
Speaker 1: It's a lot of money. But if instead you had
Speaker 1: invested that money, if you had seventy seven thousand dollars
Speaker 1: randomly on hand, and you had decided to instead of
Speaker 1: opting for the car, decided to purchase Tesla stock, you'd
Speaker 1: be sitting on over eleven thousand shares of Tesla stock,
Speaker 1: which is worth now well over ten million dollars. And
Speaker 1: that's the power of ownership. I feel like that helps
Speaker 1: drive the point home, right, that this money can go
Speaker 1: towards buying things, or it can go towards building your wealth.
Speaker 1: And by owning shares in an actual company like Tesla
Speaker 1: that has done so incredibly well, that's obviously kind of
Speaker 1: an outlier. But still even if you just put that money,
Speaker 1: that's seventy seven thousand dollars in the SMB five hundred,
Speaker 1: that would be worth a whole heck of a lot
Speaker 1: more money today too. Yeah, and it's not that that
Speaker 1: models is worth nothing today, but it's not worth ten
Speaker 1: million dollars. I'll tell you that on a on a
Speaker 1: slightly smaller scale, or at least a you know, smaller
Speaker 1: numbers here, if you had purchased Apple stock back instead
Speaker 1: of buying the first generation iPhone, that five dollars would
Speaker 1: have actually turned into fifteen thousand dollars, which is that's
Speaker 1: a pretty nice gain right over the years. Not nearly
Speaker 1: as impressive as Tesla, but but yeah, what do you
Speaker 1: think about it? Though a lot of people could invest
Speaker 1: five hundred bucks, but what he's got seventy seven exactly,
Speaker 1: And the yeah, Tesla example, that's more like can I
Speaker 1: cherry pick a nups? But let's ratch it up a
Speaker 1: little bit. If you put four hundred dollars into apple
Speaker 1: Stock instead of buying the first generation of the iPod,
Speaker 1: you'd have over a hundred and fifty thousand dollars right now.
Speaker 1: But that click wheel was pretty cool, so you know,
Speaker 1: the first ones didn't have to click, they didn't have
Speaker 1: the most I got the click wheel that was like
Speaker 1: a worse pop party had like the four touch screen
Speaker 1: kind of buttons at the top before they moved to
Speaker 1: the quick. Well, then you're definitely investing. That one sucks,
Speaker 1: But you don't even want to know what the numbers are.
Speaker 1: If you had invested in apple Stock instead of buying
Speaker 1: the original Macintosh back in the mid eighties, back in
Speaker 1: eighty four, but we're gonna tell you anyway, because it's
Speaker 1: just incredible, you would have over twenty eight million dollars.
Speaker 1: I feel like sending that one to my dad because
Speaker 1: I know that they had purchased one of those first
Speaker 1: McIntosh is back in the day, and uh, I don't
Speaker 1: know if this would make him just depressed or if
Speaker 1: you'd be like, no, that was a good decision, Like
Speaker 1: we still needed to have learned how to you know,
Speaker 1: do personal computing back in the day. You learned a
Speaker 1: lot as a little tiny kid. See if you say
Speaker 1: I did. But if you sent me that email and
Speaker 1: I had done that, I would have been like, I've
Speaker 1: made a huge mistake. I'd be able to admit it, right, Like,
Speaker 1: because right, I mean, that just goes to show the
Speaker 1: power of ownership. Right. So, Yeah, when you look at
Speaker 1: the difference between consumption and investing, it can be really
Speaker 1: really stark. And these are obviously examples from some of
Speaker 1: the most highly valued companies in the world. Right. But
Speaker 1: like I said, even if we opted instead to give
Speaker 1: the numbers of what you would have earned in the
Speaker 1: total stock market, right, you would still have seen just
Speaker 1: a ridiculous amount of growth on that four hundred or
Speaker 1: five hundred dollars that you would have used to buy
Speaker 1: something that Apple created and instead invested in the stock
Speaker 1: market as a whole. But I just love seeing those
Speaker 1: numbers and the disparity map between the autem that you
Speaker 1: get when you make a purchase and then what happens
Speaker 1: with your money when you choose the path of ownership instead.
Speaker 1: It's really astounding, and for me, it drives the point home,
Speaker 1: just makes me want to be even more conscious of
Speaker 1: my spending so that I can prioritize ownership even more.
Speaker 1: And you're gonna put your money towards things that appreciate,
Speaker 1: not things that depreciate. And so that's yeah, we're talking
Speaker 1: about investing, you know, ownership and investing again, it's the
Speaker 1: simplest path to doing that. Real estate that's another vehicle
Speaker 1: where ownership makes a whole lot of sense. And uh,
Speaker 1: you know, we'll talk about real estate investing in just
Speaker 1: a second, but just even owning a home to live in,
Speaker 1: if your ownership cycle is long enough, can also help
Speaker 1: you to build wealth over the years. The largest asset
Speaker 1: honestly held by the typical American family is in fact
Speaker 1: their home. And of course we want how to Money
Speaker 1: listeners to consider even going beyond just single family home ownership. Uh,
Speaker 1: it's definitely a traditional path that works, although it's certainly
Speaker 1: not the highest performing path, right, but even still, it's
Speaker 1: worth mentioning that buying a home and owning it for
Speaker 1: decades is still a solid ownership move and the one
Speaker 1: that Americans seem to to feel the most comfortable pursuing. Yeah,
Speaker 1: for sure, and a lot of people are just naturally
Speaker 1: going to gravitate towards that type of ownership over time. Right,
Speaker 1: Just that's a desire of a lot of people is
Speaker 1: to buy a home be planted somewhere. We totally get that.
Speaker 1: Even though it's not always the best investment, sometimes it's
Speaker 1: a good purchase for other reasons, and oftentimes it does
Speaker 1: over time work out to be a decent investment. But
Speaker 1: there there is a big difference between purchasing a home
Speaker 1: for you to just live in and then buying a
Speaker 1: home as an investment property. Right. The former can be
Speaker 1: this slow, methodical wealth builder, But it turns out that
Speaker 1: the way people analyze a home that they want to
Speaker 1: live in is often completely different than the way they
Speaker 1: run the numbers on a home that they're buying to
Speaker 1: generate a return. Right When when I bought my house,
Speaker 1: When most people buy a home to live in, they're
Speaker 1: not thinking about the potential return if they were to
Speaker 1: rent that out instead. And so, yeah, we are fans
Speaker 1: of people thinking about their primary home purchase a little
Speaker 1: more like it were, you know, a traditional investment property.
Speaker 1: But there's more that goes into it than that, Right,
Speaker 1: And we're actually hoping to release an in depth episode
Speaker 1: about real estate investing soon, but it really is one
Speaker 1: of our favorite ways to build wealth through ownership. Right,
Speaker 1: if you're savvy, you can buy a home that makes
Speaker 1: you money when you buy it, that makes you money
Speaker 1: every single month as you're getting paid rent by your tenants,
Speaker 1: and it makes you money as it appreciates over time.
Speaker 1: Hopefully it saves you on taxes too. Reallyses like the trifecta, right.
Speaker 1: Owning a real estate investment property is I think one
Speaker 1: of the best ways, in a decently accessible way for
Speaker 1: people to become owners. And I think it can be
Speaker 1: even more fulfilling to a degree, Matt. You know we
Speaker 1: just you just talked about owning a sliver of a
Speaker 1: company as opposed to owning a piece of paper or
Speaker 1: owning a feeling, and when you own an actual property,
Speaker 1: it's a lot more tangible to Yeah. That being said,
Speaker 1: home ownership isn't for everyone, though, right Like so, first
Speaker 1: of all, it typically takes a lot of money on
Speaker 1: hand in order to buy a property. Saving up for
Speaker 1: a solid down payment ideally is no joke. That takes
Speaker 1: some time. Yeah, not to mention the additional costs that
Speaker 1: typically come along for the ride when you own a home.
Speaker 1: So Yeah, don't listen to us talking about saying the
Speaker 1: family homes and immediately think that we hate renting. Sometimes
Speaker 1: it makes a lot of sensor folks, because aside from
Speaker 1: the additional costs of purchasing and owning a home, just
Speaker 1: the lifestyle that renting provides you might be more of
Speaker 1: what you're looking for in your life. When you own
Speaker 1: your own place, there are a slew of additional responsibilities.
Speaker 1: Like I wouldn't go as far to say that it's
Speaker 1: a part time job, but it definitely takes more time
Speaker 1: than investing in the stock market. Angel. This makes me
Speaker 1: think back to like, so that'st out earlier about half
Speaker 1: of Americans are invested in the stock market. So obviously
Speaker 1: that means half of Americans have a zero exposure, right, Well,
Speaker 1: sixty percent of Americans own their home, right And so
Speaker 1: when you think through all the hurdles and all the
Speaker 1: difficulties involved with purchasing home, it makes you wonder how
Speaker 1: in the world are there more people who own a
Speaker 1: property or who have a mortgage on a property then
Speaker 1: there are who are invested in the stock market. It
Speaker 1: is so easy to invest in the stock market to
Speaker 1: get a retirement account, going that It just makes you
Speaker 1: wonder why there are not more folks invested in the
Speaker 1: stock market. It's it's just the easier way to achieve wealth,
Speaker 1: right owning you know, little slivers of different companies at
Speaker 1: and extremely low cost are virtually free with fidelities, you know,
Speaker 1: zero expense funds. And you kind of touched on how
Speaker 1: there's like something else that comes along with real estate.
Speaker 1: How it's like, Okay, this is my home, this is
Speaker 1: my property that I that I fully own. I've gotta
Speaker 1: think that that's a huge part of it. Right, Like folks,
Speaker 1: I think your own it's tangibly like it's something that
Speaker 1: you can see, Uh, it's something you can touch. And
Speaker 1: for a lot of folks it's something that they're living in,
Speaker 1: and so it to them, I think it just feels
Speaker 1: more real. But the stock market is a real thing,
Speaker 1: even though it's just numbers. For most people on their
Speaker 1: phone or you know, on a read out on their
Speaker 1: on their computer screens are numbers you can eventually cash
Speaker 1: out and spend. It's like that is real money, and
Speaker 1: there's I don't know that We've got to find a
Speaker 1: way to convince more Americans to start investing in the
Speaker 1: stock market, especially to when you look at the return
Speaker 1: on your investment over the past several decades, right from
Speaker 1: the sixties and seventies, uh, the market, the stock market
Speaker 1: has returned numbers much much higher than single family homes.
Speaker 1: And so again we're not saying that you can't grow
Speaker 1: your wealth via a single family home, via your house,
Speaker 1: but the stock market is going to be so much
Speaker 1: more effective and it's going to require so much less
Speaker 1: hassle and time and energy. When you're looking at the numbers,
Speaker 1: it just blows my mind that there are more folks
Speaker 1: who own a home compared to the number of folks
Speaker 1: who are invested in the stock market. Yeah, if we're
Speaker 1: talking about the difficulty level of pursuing investing in the
Speaker 1: stock market versus pursuing investing in real estate, it's so
Speaker 1: much easier to start investing in the market. And really,
Speaker 1: you can kind of put it on autopilot. Do dollar
Speaker 1: cost averaging every single month, Toss twenty fifty bucks a
Speaker 1: month into a roth Ira through you can have. It's
Speaker 1: a it's a no brainer premi your account like it's
Speaker 1: so simple, Yet a whole lot of people just aren't
Speaker 1: taking advantage of it. And even when you can get
Speaker 1: started with very little money, which is so much more
Speaker 1: difficult in the housing market, right, yeah, Yeah. We've got
Speaker 1: a friend of ours who has been teaching a piano lessons,
Speaker 1: like she's accomplished pianist, and she teaches some other kids
Speaker 1: as well. But it makes me think of like some
Speaker 1: of some of the simple songs you could play on
Speaker 1: the piano, and it's almost as if Americans are sitting
Speaker 1: down to the piano for the first time and they're saying,
Speaker 1: all right, I'm gonna learn how to play what is
Speaker 1: it for? At lease? You know, like yeah, yeah, which
Speaker 1: is kind of a classic, but it's also kind of
Speaker 1: a complicated song, more difficult than chopsticks. Yeah, way more.
Speaker 1: And I was thinking hot cross buns, but like investing
Speaker 1: in the stock market is the hot cross buns, and
Speaker 1: only half of Americans are doing it. There are more
Speaker 1: folks jumping straight to the more complicated endeavor when it's
Speaker 1: a lot easier, and you know, well, I guess the
Speaker 1: metaphor breaks down, but it would be a lot easier,
Speaker 1: and it would be much much more gratifying to play chopsticks.
Speaker 1: And granted, like you said, people buy a house because
Speaker 1: it provides other benefits like a place who live. And
Speaker 1: that's understandable, right if you if you want to plant
Speaker 1: your roots, there are additional benefits. But you know, we're
Speaker 1: we're in favor of an all all the above approach
Speaker 1: to ownership, but that there is another path ownership that
Speaker 1: we haven't talked about yet that's more difficult than investing
Speaker 1: in the stock market, but it can also provide higher returns.
Speaker 1: Let's talk about starting your own business. Let's do it.
Speaker 1: We talked about this recently with Rachel Richards. There is
Speaker 1: a huge difference between working as an employee for someone
Speaker 1: and owning your own business. And uh, there's a lot
Speaker 1: of routes that you can take to starting your own thing.
Speaker 1: You know, it doesn't have to kind of be this
Speaker 1: all or nothing approach. You can and I think most
Speaker 1: people do start a business when they've got steady income
Speaker 1: coming from somewhere else. You can start it off as
Speaker 1: the side hustle, and then over time you kind of
Speaker 1: kind of rotate that dial and start cranking up the
Speaker 1: income on that side hustle, and pretty soon it becomes
Speaker 1: your main gig. But not only can you increase your
Speaker 1: income by owning your own business, but that business over
Speaker 1: time becomes worth something if you're able to sell it again.
Speaker 1: You're able to sell it because you own that business.
Speaker 1: And we're talking about ownership right now. Uh. And the
Speaker 1: other thing too, You can even start a business for
Speaker 1: little or no money. We talked about that in episode
Speaker 1: to forty seven with Alan Donagan. Just some different ways
Speaker 1: to start your own business without taking on boatloads of debt. Yeah, Matt,
Speaker 1: my wife's best friend, her dad had a cleaning business,
Speaker 1: and he would go over and clean the houses himself.
Speaker 1: But what he had built up was this book of business,
Speaker 1: was all these people that used him over the years,
Speaker 1: and so what he was able to do when he
Speaker 1: reached retirement was to sell this business. He didn't have
Speaker 1: to clean houses anymore. But it wasn't just the fact
Speaker 1: that he got paid money for the houses that he cleaned,
Speaker 1: but it was that the business he had built up
Speaker 1: was worth something to someone else. And that is ownership, right,
Speaker 1: That is that is a wonderful thing. And yeah, Matt,
Speaker 1: we also have friends in the personal finance space who
Speaker 1: started their own sites years ago in an effort to
Speaker 1: document maybe like a debt payoff journey, and some of
Speaker 1: them ended up writing such great content consistently that their
Speaker 1: site started to make legitimate money, and you know, for
Speaker 1: many of them, it turned from a side hustle into
Speaker 1: a full time gig. But yeah, so not only is
Speaker 1: it awesome from that standpoint, but over time their sites
Speaker 1: increased in value and a few have had bigger companies
Speaker 1: approached them along the way, and some of them have
Speaker 1: been paid a pretty large chunk of change in order
Speaker 1: to purchase that business, like six figures or seven figures.
Speaker 1: So yeah, owning that site and building it are the
Speaker 1: keys to that happy ending. They could have written for
Speaker 1: another publication, but they risked their time to create their
Speaker 1: own thing to become an owner, and it paid off
Speaker 1: in the end. Ownership when it comes to small businesses,
Speaker 1: can provide the most potential r o I compared to
Speaker 1: really any other form of ownership totally. And all that
Speaker 1: to say that, right, if you're gonna start blogging or
Speaker 1: you're gonna start a site, that there's there's not a
Speaker 1: guarantee that you're going to be able to have this
Speaker 1: this massive payday, right And none of those people made
Speaker 1: huge chunks of money because they didn't do much work
Speaker 1: and it was pretty chill. It's like they poured a
Speaker 1: lot into it, and they poured a lot into it
Speaker 1: over a number of years. Right, It's took a long time.
Speaker 1: And you know, to be an owner means that you're
Speaker 1: going to have to sacrifice, like you you sacrifice money,
Speaker 1: your capital, your time, and you know some of the
Speaker 1: things that your dollars could be buying you and the
Speaker 1: here now, and so as we're making smart money moves,
Speaker 1: it's almost as if we're in this purgatory waiting period
Speaker 1: right before we're able to realize it of the benefits
Speaker 1: from the steps that we've taken now towards ownership. This
Speaker 1: is you know, one of the reasons that we are
Speaker 1: such fans of investing in real estate because it's almost
Speaker 1: like this hybrid model that it does cash flow today,
Speaker 1: but it also appreciates for tomorrow. Do you have that
Speaker 1: dual benefit, And that's one of the reasons why we're
Speaker 1: big fans of real estate. But obviously when it comes
Speaker 1: to investing in the stock market, though, like if you're
Speaker 1: investing in pumping money into a retirement account, but yeah,
Speaker 1: I mean you're looking at decades, like multiple decades potentially
Speaker 1: before you're likely going to be able to see that
Speaker 1: that payout before you're going to realize any of those
Speaker 1: benefits from the sacrifices that you're making today. But you
Speaker 1: are becoming an owner and shifting into that mindset and
Speaker 1: knowing that that's what you're doing. Not just that you're
Speaker 1: setting aside of money for your future, but you are
Speaker 1: an owner of business, of many different businesses in all
Speaker 1: likelihood and and I think that mindset shift is important, Matt.
Speaker 1: And I think what you said about sacrifice is key, right.
Speaker 1: It does take sacrifice, It takes uh, it takes long
Speaker 1: term thinking in order to become an owner. And yeah,
Speaker 1: let's talk about risk verse reward two when you decide
Speaker 1: to become an owner, because the length of time that
Speaker 1: you plan to own something has a massive impact on
Speaker 1: whether or not you're gonna be able to make money right,
Speaker 1: the shorter timeline that you attempt. We talked about this
Speaker 1: when it comes to investing, the higher risk that you're
Speaker 1: gonna face. We're all about owning and building quality assets
Speaker 1: for decades because yeah, there's just this risk in all
Speaker 1: of the ownership categories that we mentioned. As an investor,
Speaker 1: you can see the market dip for a period of time.
Speaker 1: You know, if you put money in today, five years
Speaker 1: from now, it's unlikely, but you could have less money
Speaker 1: than you started with. And as a real estate owner,
Speaker 1: you can see the value of that property decline or
Speaker 1: you could endure a time where you're not making any money.
Speaker 1: Right because vacancy, tenant problems are potential risks as an owner,
Speaker 1: and every owner, anybody who has been an owner, they
Speaker 1: know that right that there can be some really hard
Speaker 1: financial and emotional times. There are risks, but they're manageable risks,
Speaker 1: and the reward at the other end of deciding to
Speaker 1: opt for ownership, those rewards are potentially huge. And you know,
Speaker 1: ownership it's not all rainbows and butter flies in unicorns always.
Speaker 1: Although three of my favorite things. When you're the owner,
Speaker 1: you're you're gonna have more responsibility, even kind of going
Speaker 1: back to to owning your own home, right, you often
Speaker 1: have some hard decisions to make. Not owning a home
Speaker 1: means that you can call your landlord for any maintenance
Speaker 1: request to pop up. You don't have to fix the
Speaker 1: leaky fasce at yourself. You don't have to replace the
Speaker 1: broken water heater, and you're like, godge that bullet, and
Speaker 1: that's one of the benefits, right, but you also don't
Speaker 1: get to realize the wealth building upside that your landlord
Speaker 1: is experiencing. Even when it comes to owning stocks in
Speaker 1: an index fund, there are going to be bear markets
Speaker 1: and you're gonna see your portfolio decline some which could
Speaker 1: lead to some tense shoulders. It doesn't have to uh
Speaker 1: if you know that that's your your your tendency to
Speaker 1: get stressed out, find ways to ignore the news, find
Speaker 1: ways to uh turn off that flow of information that's
Speaker 1: going to cause you to stress out. But at the
Speaker 1: same time you're gonna need to remind yourself that this
Speaker 1: is all a part of being an owner. We feel
Speaker 1: that the financial benefit is going to be well worth
Speaker 1: any small amount of stress that is most likely manageable. Yeah.
Speaker 1: One of the things you said at the beginning of
Speaker 1: the episode, you said, if you want to stay forward,
Speaker 1: don't own anything. And I think that's true, and I
Speaker 1: think it is Uh. You might be able to be secure,
Speaker 1: but you're never going to be able to build wealth
Speaker 1: if you don't ever choose to become an owner, if
Speaker 1: you only choose to be a frugalites and a saver.
Speaker 1: And we're all about frugality, and we're all about saving money,
Speaker 1: but ownership is the next step because wealth flows to
Speaker 1: owners and at how the money. You know, we're all
Speaker 1: about building that wealth slowly but surely over time. Spending
Speaker 1: less is really really important to growing the gap and
Speaker 1: being able to save more of your money. That's an
Speaker 1: important first step. Of course, you don't get rich by
Speaker 1: paying interest to the credit card companies every single month,
Speaker 1: but you also don't grow wealth by keeping your money
Speaker 1: into savings account either. So becoming an owner is the
Speaker 1: next logical step, and it's the most important step to take,
Speaker 1: and it's a step that none of us can afford
Speaker 1: not to take. Yeah, and so if you're listening and
Speaker 1: you're already investing your money, congrats, because that means you
Speaker 1: are an owner of something. We're not sure what you
Speaker 1: should pack yourself on the back, because, like I think, Matt,
Speaker 1: part of what we're talking about here is not just
Speaker 1: encouraging people to become owners, because there are some of
Speaker 1: our listeners who haven't taken that step yet and we're saying, yeah,
Speaker 1: it's time, but also for the folks that have started
Speaker 1: doing some of these positive steps, thinking of yourself as
Speaker 1: an owner is important that you are doing the right thing,
Speaker 1: but at the same time, it's worth considering how you
Speaker 1: can pursue other paths of ownership in your life. And
Speaker 1: as as someone who is already on the path to
Speaker 1: to financial independence, if you own something well, having that
Speaker 1: ownership mindset can propel you to to to reach even
Speaker 1: bigger financial and bigger wealth building goals because when you
Speaker 1: can you know, see yourself as an owner and you
Speaker 1: realize the financial benefits that it creates, it's just one
Speaker 1: of those things that you can't unsee. It's really is
Speaker 1: paradigm shifting. It's a game changer for the way that
Speaker 1: you view and handle money moving forward. And it's not
Speaker 1: we're not trying to add undue stress in your life,
Speaker 1: right Like, if it's time to go to the grocery
Speaker 1: store and buy some groceries, all right, that's something that
Speaker 1: you have to do. But at the same time, realize that,
Speaker 1: I don't know, maybe some other purchases that are more optionalous,
Speaker 1: a little more frivolous, or there there's something that could
Speaker 1: provide you maybe some value now or maybe it's just fun.
Speaker 1: Realize that you're doing that at an expense to your
Speaker 1: future self. We don't want all of your spending now
Speaker 1: to hamstring your future self. Even though it's so difficult
Speaker 1: for us to picture ourselves in the future, realize that
Speaker 1: what you're doing today is going to affect tomorrow's bottom line. Yeah,
Speaker 1: so if you're not there yet, we encourage you to,
Speaker 1: you know, look at your finances and see have I
Speaker 1: saved enough in order to start pursuing ownership or do
Speaker 1: I need to start saving more so I can get
Speaker 1: there more quickly. And if you've already started investing, then
Speaker 1: think of yourself as an owner and doing that I
Speaker 1: think will help you take your pursuits more seriously. It's
Speaker 1: a game changer for how you think about where your
Speaker 1: money is going. But that's enough talk about ownership map.
Speaker 1: Because you know, every once in a while, people do
Speaker 1: need to buy their groceries. They do need to buy
Speaker 1: their delicious craft beer. Let's talk about the beer that
Speaker 1: that we had on today's episode. This one is called
Speaker 1: money Blend. It's by American Solera. It's an oak aged
Speaker 1: farmhouse sale. What's your take on this beer, man, Yeah,
Speaker 1: this is money Blend Bash number two. And you know
Speaker 1: it says it's aged in oak tanks. But we know
Speaker 1: what they mean. They're talking about oak footers, and so
Speaker 1: basically they look like like everyone is seeing pictures of
Speaker 1: wine barrels kind of stacked on their sides, or even
Speaker 1: barrels of whiskey. Uh. You know, I don't know if
Speaker 1: you've ever been on like the Bourbon Trail, but not yet,
Speaker 1: sadly I haven't. Dude, we need to do a how
Speaker 1: to money trip. Maybe take the wives up there as well.
Speaker 1: I'd be a lot of fun. But imagine one of
Speaker 1: those barrels not turned on its side, but like standing
Speaker 1: on its end. But then like, I don't know, ten
Speaker 1: times bigger, that's what it is. And yeah, this is
Speaker 1: a farmhouse style aged and one of those giant oak
Speaker 1: footers or tanks. And man, this was a delicious farmhouse beers.
Speaker 1: So it had a little bit of kind of like
Speaker 1: that farmhouse funk going on. It also had a nice
Speaker 1: touch of acidity. Uh. But before we even started recording,
Speaker 1: you and I both we ad made a comment and
Speaker 1: there is undoubtedly a flavor profile of honey going on
Speaker 1: with this beer, right, A little bit of that honey sweetness,
Speaker 1: I agree. And it was also like I would say,
Speaker 1: deliciously mellow, like oh yeah, and then he does that.
Speaker 1: It almost has like this mead light quality where it
Speaker 1: just makes you want to just relax and the beer
Speaker 1: interacts with you a little bit. It does something similar
Speaker 1: in just giving it kind of like a chill rustic
Speaker 1: but also like a buttoned up vibe, like I don't know,
Speaker 1: it's just the beer. Chill rustic, buttoned up. It's like, uh,
Speaker 1: country fancy exactly, that's what it's. I mean, that's a
Speaker 1: perfect way to describe this here, country fancy. So instead
Speaker 1: of calling the farmhouse sales, it's like, oh, that's a
Speaker 1: nice country fancy farmhouse fancy exactly. That's what I say
Speaker 1: about this beer. So yeah, big things to James for
Speaker 1: sending this one in our way. Seriously, the naming convention
Speaker 1: was perfect for this beer. Batch number two. Yeah it
Speaker 1: was delicious, So yeah, we appreciate you sending us one
Speaker 1: of the best local beers where you live. Yes, really taste,
Speaker 1: Thank you, James, And honestly, this is just perfect up
Speaker 1: our alley. So great job picking one specifically for Joel
Speaker 1: and I no doubt. All right, well that's gonna do
Speaker 1: it for today's episode for folks at want the show
Speaker 1: Notes and links to anything that we mentioned on today's episode.
Speaker 1: You could find those up on our website at how
Speaker 1: to money dot com. That's right, And if you've been
Speaker 1: listening to the show for a while but maybe you
Speaker 1: have not left us a review, we would be incredibly
Speaker 1: grateful if you were to head over to Apple Podcasts
Speaker 1: or wherever it is that you listen to your shows
Speaker 1: and leave us a nice five star review. And so
Speaker 1: many folks have been doing this, and specifically they've been
Speaker 1: writing in how the show has helped them to either
Speaker 1: find more money or save more money, or earn more
Speaker 1: money and hopefully, after this episode, invest more of their money.
Speaker 1: And so we would love it if you did something similar,
Speaker 1: and that just helps folks out there to know what
Speaker 1: they're getting into. And that way, if they're like, oh, yeah,
Speaker 1: I don't want to do any of those things with
Speaker 1: my money, they can I guess they can skip the show.
Speaker 1: But we all know that there are a lot of
Speaker 1: folks out there who need this advice. So thanks in
Speaker 1: advance for that. Joel is at it. That's it man, alright, man,
Speaker 1: So until next time, Best Friends Out, Best Friends Out.
Speaker 1: M