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Speaker 1: Welcome to Hod of Money. I'm Joel and I am Matt.

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Speaker 1: Today we're talking about the understated power of stealth wealth.

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Speaker 2: We're talking about that stealthy, stealthy wealth, which reminds me

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Speaker 2: did you ever watch Mister Deeds? This is an Adam

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Speaker 2: Sandler movie back in the nineties.

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Speaker 1: Long time ago.

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Speaker 2: It's for a long time. Do you re ever the

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Speaker 2: servant I forget his name, but I am John Turturro was, Yeah,

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Speaker 2: I am very very sneaky, sir. That's what I think

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Speaker 2: of that I hear stealth wealth. I think of that

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Speaker 2: sneaky wealth, that wealth that sneaks up on you, that

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Speaker 2: folks aren't even aware of.

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Speaker 1: You know what? It makes me think of the like

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Speaker 1: stealth Bomber back in the day, remember when that came out.

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Speaker 2: Also as a kid was huge in the nineties.

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Speaker 1: I was like, that's the coolest thing I've ever seen

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Speaker 1: in my life.

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Speaker 2: How does that thing actually fly?

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Speaker 1: And it's so stealthy? How does it do what it's

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Speaker 1: supposed to do? But yeah, that's kind of what we're

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Speaker 1: gonna talk about. Well, when it comes to money, we

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Speaker 1: want you to be sneaky, We want you to be stealthy.

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Speaker 1: And like there's a whole lot of reasons for it,

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Speaker 1: Like what is stealth wealth. We'll discuss that in this episode,

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Speaker 1: but also kind of like, how do you head in

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Speaker 1: this direction to that's right?

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Speaker 2: Man? So, okay, I've got a question for you. I

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Speaker 2: was faced with a conundrum the other night. So lately

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Speaker 2: I've been kind of going down the path of thinking

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Speaker 2: three different purchases I make within the framework of buying

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Speaker 2: quality over quantity. Right, this is something we talked about

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Speaker 2: in episode six twenty six.

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Speaker 1: We've talked about this so decent amount recently.

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Speaker 2: Yeah, but lately I've kind of been exploring this is

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Speaker 2: gonna sound kind of silly, but nicer shirts, specifically Marino

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Speaker 2: woolves shirts. Okay, And basically, so the reason I've been

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Speaker 2: looking into this We're getting ready for our Scotland trip

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Speaker 2: our You and I and our wives are all going

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Speaker 2: to Scotland, and I've learned that Marino wool is like

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Speaker 2: the fabric of choice for travelers. Maybe a lot of

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Speaker 2: other people already know this, but I did not know this.

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Speaker 2: It was nice and soft, right, Well, it's soft, but

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Speaker 2: it's also it's great from like a temperature regulation standing point.

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Speaker 2: But specifically it is. It doesn't get stinky, like I

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Speaker 2: don't know, it's like it's magic. Your fellow travelers will

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Speaker 2: appreciate this man absolutely, And I got one, and I

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Speaker 2: actually put it to the test a couple of weeks ago.

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Speaker 2: I don't don't know if you remembered, but I wore

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Speaker 2: the same T shirt for I remember for weeks you

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Speaker 2: told me for a week straight and I was making

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Speaker 2: you sniff the shirt because I was like, dude, you

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Speaker 2: can't smell anything on.

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Speaker 1: This game up here and had money HQ.

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Speaker 2: Sometimes I even I wore it like on a run,

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Speaker 2: even like in the middle of that period of time,

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Speaker 2: and even still by the end of seven days it

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Speaker 2: was not stinky. Anyway. I'll have to say that Marino

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Speaker 2: Wool shirts are really freaking expensive, though, and so that's

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Speaker 2: the predicament I'm in. I'd love to maybe get a

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Speaker 2: couple more, or maybe even just one more, but they're like,

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Speaker 2: like from the better companies out there, You're talking like

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Speaker 2: seventy or eighty bucks for a single shirt. So I

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Speaker 2: hopped on eBay and I was looking around and I

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Speaker 2: came across this retailer that I guarantee nobody ever heard of. Honestly,

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Speaker 2: I think there's like a direct from Asia kind of

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Speaker 2: company where like stuff's getting shipped directly to this warehouse

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Speaker 2: out in California. But the prices were incredible. I'm talking

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Speaker 2: like thirty dollars for Marina wool shirt, which is a

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Speaker 2: screaming deal compared to like eighty bucks. But the reviews

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Speaker 2: were a little iffy on it, and I wasn't totally

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Speaker 2: sure if it would if it would pan up. But

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Speaker 2: what would you have done in this situation? Because on

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Speaker 2: one handles torn because I was like, oh, this is

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Speaker 2: the absolute Lewest price I've ever seen on a Marina

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Speaker 2: wool shirt. But I also didn't want to get stuck

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Speaker 2: with something that I wasn't going to love.

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Speaker 1: Okay, what's the return policy? I guess that'd be my

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Speaker 1: next question.

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Speaker 2: Great question. They had a return policy, but you had

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Speaker 2: to pay for shipping. So that's what makes it tough. Right,

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Speaker 2: If it free returns, no brainer, get it, try it out.

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Speaker 2: If you didn't like it, sent it back. And if

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Speaker 2: they didn't have a return policy, that was also a

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Speaker 2: no brainer. I wouldn't do it at all. Yeah, but

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Speaker 2: this falls like right on the fence, and that's that's

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Speaker 2: where we like to live, right, we like to live

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Speaker 2: in that in between zone.

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Speaker 1: Well, every once in a while, as someone who's trying

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Speaker 1: to be frugal, you do get burned and you do

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Speaker 1: your best, and so I think burned. This is one

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Speaker 1: of those though, where if it's that much more of

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Speaker 1: a deal, and if there are enough reviews to substantiate

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Speaker 1: the quality of the items, say sell, then I would

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Speaker 1: be like, I'll give it a shot. Worst thing that happens,

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Speaker 1: I'm out six bucks. But best thing it happens, I

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Speaker 1: say fifty bucks on the shirt I'm not going to get.

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Speaker 1: So that's how I would think of it.

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Speaker 2: Well, the reviews talked about how the had like a

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Speaker 2: weird sizing and the fit was kind of odd. So

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Speaker 2: ultimately I decided not to do it, and instead I

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Speaker 2: was like, all right, maybe I'll just watch out for

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Speaker 2: some like bigger sales from some of the nicer companies, or.

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Speaker 1: Maybe yeah, you can wait and look around and see

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Speaker 1: if there's something in between set of the eighty dollars

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Speaker 1: shirts or something that's like forty hours fifty O don't.

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Speaker 2: Yeah that's true. Yeah, Like, so I got an icebreaker

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Speaker 2: shirt that's like one of the better companies or whatever.

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Speaker 2: But ARII co Op they make really good one hundred

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Speaker 2: percent ma Rena wool shirts and they go on sale

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Speaker 2: as well, evidently, like in the forties or fifty dollars range.

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Speaker 1: Sometimes my sister in law works at already I, so

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Speaker 1: I can maybe ask her about I didn't know that, yeah,

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Speaker 1: which I don't know recently it was recently. I think

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Speaker 1: she got that job. So oh, Man, Yeah, I don't know.

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Speaker 1: I don't know if I can get to.

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Speaker 2: This, send those digits over I'm her.

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Speaker 1: Yeah, she'll hate you pretty soon, pretty soon, But yeah,

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Speaker 1: I don't know.

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Speaker 2: Good luck with your thanks. Man continued, curious to get

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Speaker 2: your thoughts on that.

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Speaker 1: But yeah, those are always tough decisions. It's trying to

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Speaker 1: be an informed consumer buying the right things at the

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Speaker 1: right price. It's not always easy. But yeah, well, let's

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Speaker 1: talk about stealth wealth here, Matten. But first let's mention

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Speaker 1: the beer that we're having on this episode. This one

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Speaker 1: is called Traditional Copper. It's an alt beer and it's

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Speaker 1: by the old Mecklenburg Brewery. Your father in law gave

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Speaker 1: us this beer to have on the show, right, So

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Speaker 1: that's right, thanks, Greg. I think this is it's called

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Speaker 1: copper and it's a traditional alt beer. Oh okay, so

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Speaker 1: I think copper is the name of it. Now it's

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Speaker 1: hard to tell the way on the label, but.

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Speaker 2: Yeah, looking forward to enjoying this one. We'll share our

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Speaker 2: thoughts on it at the end of the episode, for sure.

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Speaker 1: But for now, let's get onto Stealth, Wealth and Matt.

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Speaker 1: This made me think about Clark Kent, who has a

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Speaker 1: nerdy newspaper job.

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Speaker 2: He's a sneaky, sneaky guy.

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Speaker 1: He's got the thick glasses. Certainly doesn't look cool in

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Speaker 1: the traditional sense of the word. And I don't know

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Speaker 1: if people still use the term square, but if they do,

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Speaker 1: that's what they call Clark Kent, right, And like, that's

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Speaker 1: what he is. But when you pull back the white

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Speaker 1: button up on that dude, he's a beast, right, he

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Speaker 1: becomes Superman, and kids all over the world and lots

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Speaker 1: of adults are obsessed with that dude because he can fly,

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Speaker 1: he can kick basically anyone's butt. There's only one thing

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Speaker 1: that can stop him, and it's this green, shiny rock, right,

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Speaker 1: and he's saving the world from evil villains on a

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Speaker 1: regular basis. But Clark Kent doesn't need everyone to know

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Speaker 1: what he's capable of. Like, he doesn't mind people thinking

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Speaker 1: that he's a complete nerd, boring old reporter, right, he

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Speaker 1: doesn't mind that being the general conception of him. And

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Speaker 1: so I think when you don't feel the need to

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Speaker 1: signal to others what you're capable of, there's a whole

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Speaker 1: lot of power in that from an individual standpoint. And

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Speaker 1: when we're talking about overall financial wellbeing, So that's what

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Speaker 1: we're talking about today. We want you to be the

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Speaker 1: financial version of Clark Kent, to have some superman underneath

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Speaker 1: the clothes, but they not be like showing it off

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Speaker 1: to everybody all the time.

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Speaker 2: Man. Yeah, And the fact is those outward signals are

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Speaker 2: oftentimes more of a distraction than anything else, right, Like,

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Speaker 2: they can oftentimes actually prevent you from being able to

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Speaker 2: sustain that lifestyle. You might be able to achieve it momentarily,

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Speaker 2: but sustaining it is a whole other question. And you know,

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Speaker 2: one of the problems that we're addressing today, Like everybody

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Speaker 2: out there, for the most part, wants to be wealthy,

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Speaker 2: but they don't want to be like quote unquote that guy, right,

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Speaker 2: Like they don't want to be the jerk and the

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Speaker 2: audie that cuts you off, like on the way to work.

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Speaker 2: They don't want to be the folks on social media

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Speaker 2: living it up at the club. They want to be wealthier,

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Speaker 2: but they don't want to like essentially lose their soul

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Speaker 2: in the process. And the term stealth wealth is a

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Speaker 2: helpful way to think about what's worth striving for, right, Like,

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Speaker 2: this is the solution to finding that balance between being

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Speaker 2: wealthy but being a decent human being. So today we're

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Speaker 2: going to talk about why stealth wealth is such a

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Speaker 2: great goal to aim for and you know what it

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Speaker 2: looks like to actually achieve it.

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Speaker 1: Yeah, so let's talk about what it is. Let's to

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Speaker 1: find terms a little bit here, and you and I

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Speaker 1: were talking about this before we started. It's kind of

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Speaker 1: a hard word or term to define, Like it's not

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Speaker 1: financial independence, but if you're going the stealth wealth route,

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Speaker 1: it's going to get you to financial independence. So it's

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Speaker 1: kind of a way of living as you're kind of

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Speaker 1: looking to achieve more and more financial independence in your life.

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Speaker 1: And it's a way of living that we think makes

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Speaker 1: a lot of sense, and it actually has its roots

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Speaker 1: back in the book The Millionaire next Door Thomas Stanley

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Speaker 1: wrote this classic back in nineteen ninety six, I believe,

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Speaker 1: and it was a study of millionaires and it came

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Speaker 1: to some striking findings, right that most of us don't

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Speaker 1: assume when we think about wealth accumulation. It showed really

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Speaker 1: that millionaires are disproportionately clustered in middle class and blue

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Speaker 1: collar neighborhoods, not in the most affluent neighborhoods, which is

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Speaker 1: kind of counterintuitive to how most of us think about

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Speaker 1: the wealthy among us. We assume that they're living in

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Speaker 1: the McMansions, but no, not necessarily. They're more likely to

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Speaker 1: devote their money towards saving and investing than buying luxury goods.

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Speaker 1: Makes me think about recently we talked on the show

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Speaker 1: and we had an Instagram post about Prada selling paper clips,

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Speaker 1: And you can get a four hundred ninety five dollars

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Speaker 1: paper clip from Prada, or you can get like a

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Speaker 1: Gucci dog bowl, a Gucci dog bowl that was almost

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Speaker 1: two thousand dollars, and you can show off your wealth

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Speaker 1: like that, you can flaunt it. You can buy they.

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Speaker 2: Should call that thing the Pucci.

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Speaker 1: Yeah, and you're getting poached when you buy that.

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Speaker 2: Bowl, poached by the Gucci, Poochy.

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Speaker 1: It's pretty ridiculous that those are the kind of things though,

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Speaker 1: that people often the wealthiest people are not buying those goods.

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Speaker 1: They're not buying the luxury paper clips, which I did

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Speaker 1: not even know is a thing, honestly shocked to see that.

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Speaker 1: But they're also not buying luxury cars either, Like these

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Speaker 1: millionaires are driving Mazda's not Mercedes. They care more about

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Speaker 1: having wealth than flaunting it. And that's just that's like

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Speaker 1: the most important thing to know about people who are

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Speaker 1: pursuing stealth wealth. It's it's the people who actually want

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Speaker 1: to be wealthy. They want to have the money backing

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Speaker 1: up a lifestyle that doesn't necessarily look ostentatious or showy.

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Speaker 2: Yeah, I mean, the truth is that it's just hard

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Speaker 2: to see how much well someone has in their everyday life.

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Speaker 2: It truly is something that is kind of secret. It's

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Speaker 2: easy to see what folks around you are spending, whether

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Speaker 2: that beyond vacations or clothes, fancy cars, nice homes, big houses,

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Speaker 2: that kind of thing. It's just hard to see though,

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Speaker 2: what they're saving and what they're investing in, how much

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Speaker 2: to what extent that they're doing that.

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Speaker 1: It's not worn on the sleeve nearly to the same

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Speaker 1: degree as the stuff that we buy.

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Speaker 2: Yeah, so stealth wealth practitioners approach their lives in a

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Speaker 2: countercultural way. And I feel like in this way it

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Speaker 2: can kind of it can pay, perhaps to be a

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Speaker 2: little hardheaded and not care what other people think. But

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Speaker 2: it makes me think of this quote, and this is

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Speaker 2: from Edwin Way Teal, and it goes, reduce the complexity

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Speaker 2: of life by eliminating the needless wants of life and

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Speaker 2: the labors of life reduce themselves. I love that, man,

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Speaker 2: I think it. Oftentimes folks might think, well, I don't

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Speaker 2: want to be a minimalist, and you can read that

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Speaker 2: quote and think, well, this is a this is a

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Speaker 2: quote in favor of minimalism. But I don't think that's

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Speaker 2: the case. I don't. You don't have to go that extreme.

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Speaker 2: It doesn't have to be black or white. You can

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Speaker 2: instead choose a life of intentionality in all areas, including

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Speaker 2: you're spending.

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Speaker 1: Even when it comes to those marino wool shirts that

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Speaker 1: you want, right, you can still you can still, like

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Speaker 1: I think, intelligently shop look for and buy new things.

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Speaker 1: And some of our friends would beg to differ or

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Speaker 1: would live life a little differently like our friend Katie

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Speaker 1: Wolk Stanley.

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Speaker 2: But she would probably most definitely find her Marina wool

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Speaker 2: shirts at the Goodwill, right.

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Speaker 1: Which more power to her. That's why we wanted to

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Speaker 1: talk to her.

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Speaker 2: I hadn't done that yet, but to go you need

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Speaker 2: to go looking.

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Speaker 1: But she's inspirational in that regard, I think.

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Speaker 2: But here's the thing that when you get yourself a

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Speaker 2: Marina Wool's Churchill, you're never getting rid of to go.

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Speaker 1: To love it that much, right, so maybe there's none

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Speaker 1: to be had.

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Speaker 2: I'm trying. I'm trying to convert people on the used market.

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Speaker 1: But I think that's that's what makes her so inspiring

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Speaker 1: is that she lives her life with a really particular

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Speaker 1: bents and it's pretty extreme given kind of today's modern

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Speaker 1: standards and how consumeristic we tend to be. But I

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Speaker 1: think there's a lot to love in the way that

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Speaker 1: she does this. But I think you're right, like reducing

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Speaker 1: the complexity, eliminating the needless wants of life, that doesn't

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Speaker 1: necessarily have to mean buying into hook line at Sinker,

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Speaker 1: the non consumer advocate mentality, or you know, buying into

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Speaker 1: a full on minimalist lifestyle, not that we're against those.

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Speaker 1: More power to you if that's what you want to do,

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Speaker 1: but we don't necessarily partake to that degree. But you

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Speaker 1: might be thinking, what's the point of being wealthy without

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Speaker 1: being able to buy the things and the experiences that

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Speaker 1: having more money affords. That's a good question, because you

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Speaker 1: might be saying, my goal of saving and investing more

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Speaker 1: is so that I can buy that beach house or

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Speaker 1: for that fancy rolex. And we're not here to tell

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Speaker 1: you what you should spend your money on. We're not

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Speaker 1: here to tell you that you need to join the

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Speaker 1: minimalist movements. And if you're into fancy watches or something

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Speaker 1: like that, that's fine with us. And if you buy the

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Speaker 1: right one, actually they might even go up in value

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Speaker 1: over time. But that's beside the point. But like the

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Speaker 1: millionaire next door taught us, the problem is if you're

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Speaker 1: spending tomorrow's cash today, that's where the root of the

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Speaker 1: problem exists. And it's really hard to out earn your

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Speaker 1: spending if you're spending is insatiable. And so yeah, stealth

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Speaker 1: wealth is basically buying into the notion that actually being rich.

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Speaker 1: Trump's public displays of wealth. Makes think of an article

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Speaker 1: I wrote I don't know a year or so ago

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Speaker 1: on our website Matt about buying a new car and

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Speaker 1: how it's not that we're one hundred percent against owning

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Speaker 1: a new car in any way, form or fashion, that

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Speaker 1: nobody should ever do it, but I outlined a few

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Speaker 1: circumstances when it makes sense, and it's just that most

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Speaker 1: people don't meet those parameters, and a lot of people

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Speaker 1: end up buying a new car when they can't actually

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Speaker 1: afford it, and they stretch out payments and they really

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Speaker 1: hamstring their overall financial progress because they're opting to buy

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Speaker 1: something that makes them look better to the world or

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Speaker 1: around them from a consumer suc standpoint, from a possession standpoint,

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Speaker 1: and really what they're doing is hurting their own ability

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Speaker 1: to achieve stealth wealth and really reach financial independence.

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Speaker 2: That's right. Yeah, So let's talk about how this fits

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Speaker 2: with some recent studies that show that more money, how

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Speaker 2: it actually equals greater levels of happiness. There's some old

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Speaker 2: research out there that we've even referenced here on the

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Speaker 2: show before. We've had guests on the show before, and

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Speaker 2: they've written books. The large portions of the books were

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Speaker 2: even kind of based on this fact that happiness kind

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Speaker 2: of plateaued after reaching around seventy five thousand dollars a

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Speaker 2: year in salary. In reality, that's probably closer to one

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Speaker 2: hundred thousand dollars now given inflation. But new research by

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Speaker 2: the same folks show with more comprehensive study, is showing

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Speaker 2: that happiness levels actually continue to climb even in high

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Speaker 2: ranges of income, all the way up to like over

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Speaker 2: two hundred thousand dollars. Although this isn't the case for everyone.

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Speaker 2: There's still this unhappy minority of that group whose happiness

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Speaker 2: diminished as their income rowse. But the relationship between money

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Speaker 2: and happiness is not easy to figure out. But my

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Speaker 2: guess is that the happiest people of all are likely

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Speaker 2: the ones out there who are living the stealth wealth lifestyle.

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Speaker 2: It's the folks who end up making a high income, yes,

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Speaker 2: but they don't necessarily live like it. They're not living,

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Speaker 2: you know, they're not showing, they're not displaying their wealth

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Speaker 2: on their sleeve. Times. It's because they have asked these

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Speaker 2: harder questions. They and we're going to get all this right,

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Speaker 2: but like they are questioning the things that culture is

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Speaker 2: telling them is going to make them happy and instead

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Speaker 2: are out there blazing their own path.

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Speaker 1: Yeah, all right, let me share another quote here, because

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Speaker 1: you shared a good one with This was a touch longer,

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Speaker 1: but I swear I told my wife when I read it,

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Speaker 1: this one just like slapped me sideways. I was like,

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Speaker 1: this is just this is brilliant. And it's become one

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Speaker 1: of my favorite money quotes. And here's how. It's from

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Speaker 1: the book called The Quest of the Simple Life by

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Speaker 1: William Dawson. He says, the thing that is least perceived

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Speaker 1: about wealth is that all pleasure in money ends at

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Speaker 1: the point where economy becomes unnecessary. The man who can

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Speaker 1: buy anything he covets values nothing that he buys. There

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Speaker 1: is subtle pleasure in the extravagance that contests with prudence,

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Speaker 1: in the anxious debates which we hold with ourselves, whether

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Speaker 1: we can or cannot afford a certain thing, in our

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Speaker 1: attempts to justify our wisdom, in the risk and recklessness

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Speaker 1: of our operations, in the long deferred and final joy

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Speaker 1: of our possession. But this is a kind of pleasure

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Speaker 1: which the man of boundless means never knows. And I

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Speaker 1: think even if you had you're you're kind of referring

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Speaker 1: to that happiness study and how the people who make

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Speaker 1: more money, well, they're probably happier if they're living that stealthy,

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Speaker 1: wealthy lifestyle. I think it's probably because you're fighting back

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Speaker 1: against some of that consumerism. And if you give into

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Speaker 1: all your wants and desires and you buy all of

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Speaker 1: the things that you can possibly afford, you end up

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Speaker 1: finding that there's not as much joy and the end

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Speaker 1: of that spending's pretty as you hoped.

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Speaker 2: I think I think it shows that just having an

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Speaker 2: unlimited amount of funds isn't going to make you any happier,

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Speaker 2: right like, Like honestly, hearing that, it makes me think

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Speaker 2: of we're doing a lot of nineties nostalgia, mister Deed's

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Speaker 2: the Stealth Bomber. It also makes me think of so

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Speaker 2: playing Nintendo. I remember going to the grocery store and

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Speaker 2: there is this magazine that you could get and I'm

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Speaker 2: pretty sure it was called Nintendo Power. Uh, And the

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Speaker 2: reason you got Nintendo Power was to look up the

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Speaker 2: cheat code. Yeah, because you could, you know, flip to

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Speaker 2: whatever game that they're highlighting, look up the movement to

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Speaker 2: do on the you know, on the keypad. Before, like

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Speaker 2: once it was in the like the start screen or whatever,

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Speaker 2: and it would give if you ninety nine lives or

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Speaker 2: something like that, right, or it would give like it

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Speaker 2: would put you in god mode to where you just

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Speaker 2: couldn't die, and which makes it really fun for a

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Speaker 2: second for a second, but it just sucks all the

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Speaker 2: joy out of it. And I think that's what this

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Speaker 2: quote is saying, like that the fun is built into

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Speaker 2: the struggle, and when you remove that struggle, there's kind

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Speaker 2: of no joy left to be had. And essentially that's

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Speaker 2: what we're doing today, Like we're pointing out the fact

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Speaker 2: that by adding some barriers, some constraints, or some guardrails

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Speaker 2: like that in and of itself is sort of where

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Speaker 2: the like I guess, the joy comes from when it

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Speaker 2: comes to the how it is that we appreciate the

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Speaker 2: things that we purchase.

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Speaker 1: I think everything you buy when you take this mentality

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Speaker 1: means more than if you are spending willy nilly. And

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Speaker 1: not only that, but it adds more kind of mental

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Speaker 1: freedom because you're not nearly as worried about your money either,

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Speaker 1: because you've kind of put yourself on a path to

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Speaker 1: where something out of your control impacts you negatively, whether

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Speaker 1: it's a job loss or whether it's a market downturn

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Speaker 1: something like that, where that just doesn't affect you in

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Speaker 1: nearly the same way because you've insulated yourself in so

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Speaker 1: many ways from some of those the harshest things that

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Speaker 1: can happen. And people who are not taking the stealth

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Speaker 1: wealth approach often find themselves like a small boat out

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Speaker 1: at sea, tossed to and fro by the big waves.

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Speaker 1: But yeah, we're less likely to be tossed to and

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Speaker 1: fro if we're taking that stealth wealth mindset and so totally, Yeah,

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Speaker 1: who should be taking this? What are the pros of

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Speaker 1: stealth wealth? And then how do you actually go about

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Speaker 1: achieving it? What do you need to implement in your

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Speaker 1: life to make sure that it becomes a reality for you.

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Speaker 1: We'll talk all about that and more right after this.

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Speaker 2: All right, man, let's get back to talking about stealth wealth,

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Speaker 2: and we're gonna talk about I guess some of the

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Speaker 2: reasons you should consider stealth wealth. But first let's quickly

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Speaker 2: mention who should be considering taking more of a stealth

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Speaker 2: wealth approach with their money, because many folks who could

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Speaker 2: be striving in this direction are oftentimes just finding themselves

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Speaker 2: living paycheck to paycheck. Here's a startling statistic for folks.

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Speaker 2: Fifty one percent of people who earn more than one

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Speaker 2: hundred thousand dollars a year are living paycheck to paycheck.

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Speaker 2: And there's a lot of excuses out there, like sure inflation,

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Speaker 2: it's been a beast recently. But while folks who are

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Speaker 2: living the stealth wealth lifestyle, they might not have quite

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Speaker 2: as high of a savings rate this year, they're still

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Speaker 2: prioritizing their savings. They're still making it a point to

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Speaker 2: invest their money even while everything around them is getting

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Speaker 2: more expensive. And so I think the stat just demonstrates

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Speaker 2: that it's not always a lack of income that's preventing

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Speaker 2: people from pursuing stealth wealth in their own lives. And

432
00:19:38,119 --> 00:19:41,640
Speaker 2: it's just an argument basically that more folks could benefit

433
00:19:41,720 --> 00:19:45,000
Speaker 2: from trying to implement some of these stealth wealth principles

434
00:19:45,200 --> 00:19:46,440
Speaker 2: within their own lives.

435
00:19:46,280 --> 00:19:49,520
Speaker 1: It's not that some people in certain income ranges, in

436
00:19:49,560 --> 00:19:51,520
Speaker 1: certain stages of their career aren't going to find it

437
00:19:51,520 --> 00:19:54,639
Speaker 1: more difficult to save, but I think that stat shows

438
00:19:54,640 --> 00:19:56,240
Speaker 1: that there are a lot of people who could be

439
00:19:56,240 --> 00:19:58,720
Speaker 1: taking this approach and they're not right and then there's

440
00:19:58,720 --> 00:19:59,360
Speaker 1: lot of folks.

441
00:19:59,119 --> 00:20:00,800
Speaker 2: Who could benefit from it. A lot of folks I

442
00:20:00,840 --> 00:20:03,480
Speaker 2: think need to reassess their spending because lost oftentimes the

443
00:20:03,480 --> 00:20:05,920
Speaker 2: reason you are living paycheck to paycheck is because you're

444
00:20:06,040 --> 00:20:07,200
Speaker 2: you know, I think you're spending your money or some

445
00:20:07,280 --> 00:20:07,720
Speaker 2: dumb stuff.

446
00:20:07,800 --> 00:20:09,120
Speaker 1: Yeah, and it's easy to blame it on the price

447
00:20:09,160 --> 00:20:12,320
Speaker 1: of eggs, but there are other things that we're doing

448
00:20:12,760 --> 00:20:15,000
Speaker 1: to sabotage our own finances. So again, yeah, I think

449
00:20:15,040 --> 00:20:18,240
Speaker 1: there are some things right now conspiring against us. And

450
00:20:18,800 --> 00:20:21,480
Speaker 1: pay rates aren't quite keeping up with the rate of inflation,

451
00:20:21,800 --> 00:20:24,280
Speaker 1: and those things, yeah, are worth documenting. But it doesn't mean,

452
00:20:24,359 --> 00:20:26,320
Speaker 1: especially when you're talking about people in the six figure

453
00:20:26,600 --> 00:20:29,479
Speaker 1: salary range, that those people that there's nothing they can

454
00:20:29,560 --> 00:20:32,240
Speaker 1: do right to kind of proceed more in the stealth

455
00:20:32,240 --> 00:20:34,240
Speaker 1: wealth direction. So let's talk to you about what you

456
00:20:34,320 --> 00:20:36,879
Speaker 1: gain when you take the stealth wealth mindset, when you

457
00:20:36,880 --> 00:20:39,720
Speaker 1: take that approach to your finances, because you might think

458
00:20:39,800 --> 00:20:42,680
Speaker 1: that we're harping a bit much on the deprivation front,

459
00:20:42,920 --> 00:20:46,639
Speaker 1: and ultimately we're working towards a sense of financial freedom.

460
00:20:46,680 --> 00:20:49,480
Speaker 1: That's our goal for ourselves, that's our goal for you,

461
00:20:49,840 --> 00:20:52,719
Speaker 1: and keeping up with the Jones has become so cliche

462
00:20:52,760 --> 00:20:55,040
Speaker 1: at this point. I hesitate to bring it up, Matt

463
00:20:55,240 --> 00:20:58,040
Speaker 1: for that very reason because people are like, Okay, heard it,

464
00:20:58,200 --> 00:21:00,560
Speaker 1: bull ring. But there's just a reason that the phrase

465
00:21:00,640 --> 00:21:04,280
Speaker 1: gets referenced so often in the personal finance space, Like

466
00:21:04,359 --> 00:21:07,080
Speaker 1: the ability to not care what other people think of

467
00:21:07,119 --> 00:21:09,359
Speaker 1: you is going to give you a massive advantage when

468
00:21:09,359 --> 00:21:11,639
Speaker 1: it comes to getting ahead and meeting your financial goals.

469
00:21:11,920 --> 00:21:14,960
Speaker 1: That just has to be mentioned, and it has to

470
00:21:14,960 --> 00:21:17,320
Speaker 1: be discussed if you want to live a stealth wealth mindset,

471
00:21:17,320 --> 00:21:19,199
Speaker 1: if you kind of want to take that approach. I

472
00:21:19,200 --> 00:21:22,440
Speaker 1: think the more beholden we are to what others think

473
00:21:22,480 --> 00:21:24,359
Speaker 1: of us, the more we aim to fit in, the

474
00:21:24,400 --> 00:21:26,320
Speaker 1: more likely we are to live in a way that

475
00:21:26,359 --> 00:21:29,720
Speaker 1: doesn't satisfy us on an individual level. We're trying to

476
00:21:29,720 --> 00:21:32,840
Speaker 1: impress other people, And the more likely we are to

477
00:21:32,840 --> 00:21:36,320
Speaker 1: make purchases then for what we think they signal to others,

478
00:21:36,440 --> 00:21:41,119
Speaker 1: rather than buying things and experiences that maximize our own joy.

479
00:21:41,440 --> 00:21:43,240
Speaker 1: That is a massive problem. I think it's part of

480
00:21:43,240 --> 00:21:45,840
Speaker 1: the root of why so many people don't adopt the

481
00:21:45,880 --> 00:21:49,160
Speaker 1: stealth wealth approach their living life in so many ways

482
00:21:49,160 --> 00:21:50,280
Speaker 1: on other people's terms.

483
00:21:50,440 --> 00:21:52,479
Speaker 2: That's true. Yeah, so I don't think there's any way

484
00:21:52,520 --> 00:21:55,760
Speaker 2: that we're going to get through talking through explaining talking

485
00:21:55,800 --> 00:22:00,840
Speaker 2: about stealth wealth without mentioning the proverbial. Jones's definitely true.

486
00:22:01,160 --> 00:22:02,920
Speaker 2: But I wanted to point out, man, I think it's

487
00:22:02,960 --> 00:22:04,880
Speaker 2: easier so than done because of the fact that we're

488
00:22:04,880 --> 00:22:07,359
Speaker 2: social animals. I think it can be difficult to say, like,

489
00:22:07,440 --> 00:22:09,640
Speaker 2: I don't care what so and so thinks, I don't

490
00:22:09,640 --> 00:22:13,120
Speaker 2: care what you think and so, depending on you as

491
00:22:13,160 --> 00:22:16,399
Speaker 2: an individual, your psychological makeup, whether you tend to be

492
00:22:16,400 --> 00:22:20,720
Speaker 2: more agreeable or disagreeable, you might be more innately inclined

493
00:22:20,920 --> 00:22:22,359
Speaker 2: to rebel against the status quo.

494
00:22:22,480 --> 00:22:25,000
Speaker 1: So just from a psychological makeup standpoint, I would say

495
00:22:25,040 --> 00:22:27,639
Speaker 1: I fall into the more agreeable of that category, and

496
00:22:27,640 --> 00:22:31,080
Speaker 1: you fall into more disagreeable. And I love disagreeable. And

497
00:22:31,119 --> 00:22:32,719
Speaker 1: it's not because you're a jerk or anything like that.

498
00:22:33,240 --> 00:22:36,639
Speaker 1: Just I can be not really done now most of

499
00:22:36,640 --> 00:22:38,359
Speaker 1: the time now, but I think I appreciate it. It's

500
00:22:38,359 --> 00:22:42,400
Speaker 1: one of those things that allows you, just innately, from

501
00:22:42,440 --> 00:22:45,440
Speaker 1: a human perspective, you're less inclined to bow to social

502
00:22:45,480 --> 00:22:47,960
Speaker 1: pressure and you are more likely to march your own

503
00:22:48,240 --> 00:22:51,159
Speaker 1: drummer and for me, it's taken more intentionality to kind

504
00:22:51,160 --> 00:22:54,120
Speaker 1: of push back against that mentality because like, I am

505
00:22:54,119 --> 00:22:56,760
Speaker 1: more agreeable, Like that is kind of my tendency, and

506
00:22:57,040 --> 00:23:00,879
Speaker 1: it's not innate for me to buck all of the

507
00:23:00,920 --> 00:23:04,280
Speaker 1: modern trends and completely going alone and living my own life.

508
00:23:04,280 --> 00:23:06,960
Speaker 2: Well, before the break, I kind of mentioned being like hardheaded,

509
00:23:07,000 --> 00:23:08,800
Speaker 2: and I think that's how my parents would have described

510
00:23:08,840 --> 00:23:13,320
Speaker 2: me as a kid. But like I'll say, our attempts

511
00:23:13,400 --> 00:23:15,440
Speaker 2: to keep up with the folks around us like that

512
00:23:15,600 --> 00:23:18,760
Speaker 2: often precludes us from amassing a decent chunk of wealth, right,

513
00:23:19,119 --> 00:23:21,439
Speaker 2: and that money, that wealth is going to be able

514
00:23:21,480 --> 00:23:24,040
Speaker 2: to then afford us more life changing options. So it

515
00:23:24,080 --> 00:23:27,040
Speaker 2: truly does have a cost. And it's one thing to

516
00:23:27,080 --> 00:23:29,800
Speaker 2: be aware that this is something that I think, to

517
00:23:29,800 --> 00:23:31,239
Speaker 2: a certain extent, that we all need to work on.

518
00:23:31,480 --> 00:23:32,880
Speaker 2: But I think it can be so helpful to see

519
00:23:32,880 --> 00:23:35,560
Speaker 2: the cost of that. And I think a big part

520
00:23:35,560 --> 00:23:38,040
Speaker 2: of the reason that so many folks, even ones out

521
00:23:38,040 --> 00:23:40,679
Speaker 2: there with solid incomes, failed to get this point is

522
00:23:40,720 --> 00:23:43,200
Speaker 2: because it's just so dang easy to spend your money

523
00:23:43,320 --> 00:23:45,840
Speaker 2: like everyone else's spending their money around us.

524
00:23:45,880 --> 00:23:47,720
Speaker 1: Mm hmm, all right. It makes me think of a

525
00:23:47,840 --> 00:23:49,960
Speaker 1: river and I think of.

526
00:23:49,920 --> 00:23:51,359
Speaker 2: I can see it in my mind, well.

527
00:23:51,240 --> 00:23:54,720
Speaker 1: Like everything is pushing on us to kind of be

528
00:23:54,840 --> 00:23:58,480
Speaker 1: these people who spend willy nilly, who Our whole economy

529
00:23:58,560 --> 00:24:02,520
Speaker 1: is based around consumer in so many ways, right, So

530
00:24:02,520 --> 00:24:05,560
Speaker 1: many people's jobs are based around selling products to one another,

531
00:24:05,840 --> 00:24:08,600
Speaker 1: and some of that is good and some of times bad.

532
00:24:08,680 --> 00:24:08,840
Speaker 2: Right.

533
00:24:09,600 --> 00:24:12,080
Speaker 1: But it's this river that's flowing in one direction, and

534
00:24:12,160 --> 00:24:14,919
Speaker 1: it's it's trying to funnel us all down in that

535
00:24:14,960 --> 00:24:17,480
Speaker 1: same direction. I think of kind of stealth wealth as

536
00:24:18,040 --> 00:24:21,440
Speaker 1: a beaver building a dam to say, not today, I'm

537
00:24:21,440 --> 00:24:24,439
Speaker 1: gonna block at least a meaningful path. I'm gonna put

538
00:24:24,440 --> 00:24:25,520
Speaker 1: a meaningful path in this way.

539
00:24:25,600 --> 00:24:27,600
Speaker 2: The river will still flow, but it's gonna look a

540
00:24:27,600 --> 00:24:29,360
Speaker 2: lot different than you want it to look, at least

541
00:24:29,359 --> 00:24:31,400
Speaker 2: where I'm at, at least where I'm hanging exactly. So.

542
00:24:31,480 --> 00:24:33,520
Speaker 1: I don't know if that's a great analogy, but it's something, right,

543
00:24:33,560 --> 00:24:37,200
Speaker 1: and it's it's you taking a proactive measure to even

544
00:24:37,320 --> 00:24:39,320
Speaker 1: in the midst of forces that are out of your

545
00:24:39,320 --> 00:24:41,040
Speaker 1: control trying to push you in a certain direction.

546
00:24:41,119 --> 00:24:42,840
Speaker 2: Well, I think no, I think it's a great analogy

547
00:24:42,840 --> 00:24:45,720
Speaker 2: because at points it demonstrates that the forces never stop,

548
00:24:45,760 --> 00:24:48,080
Speaker 2: and I don't think they truly ever will. Like that

549
00:24:48,240 --> 00:24:50,919
Speaker 2: is just the culture and society. That is how the

550
00:24:51,160 --> 00:24:55,000
Speaker 2: economic capitalist engine runs in our country. It will always

551
00:24:55,000 --> 00:24:56,920
Speaker 2: be present. But what are the things, what are the

552
00:24:56,920 --> 00:24:59,320
Speaker 2: steps that we're taking in order to you know, like

553
00:24:59,359 --> 00:25:01,920
Speaker 2: you said, fight that in our own little personal section

554
00:25:02,000 --> 00:25:02,359
Speaker 2: of the river.

555
00:25:02,560 --> 00:25:04,720
Speaker 1: Yeah, I think something else that if we adopt the

556
00:25:04,960 --> 00:25:07,199
Speaker 1: stealth wealth approach, that it's going to get us. It's

557
00:25:07,200 --> 00:25:09,359
Speaker 1: going to get usless stress in our lives because and

558
00:25:09,359 --> 00:25:12,480
Speaker 1: folks who opt for stealth wealth, they're keeping their money

559
00:25:12,480 --> 00:25:15,480
Speaker 1: in banks or better yet, their favorite low cost brokerage firms,

560
00:25:15,520 --> 00:25:17,879
Speaker 1: And that's because they value the freedom that money in

561
00:25:17,920 --> 00:25:20,160
Speaker 1: the bank could buy them. And we talked about the

562
00:25:20,240 --> 00:25:22,520
Speaker 1: importance of peace out money before on the show and

563
00:25:22,520 --> 00:25:24,720
Speaker 1: how it puts you in a position of strength. But

564
00:25:25,280 --> 00:25:27,440
Speaker 1: not only does stealth wealth get you closer to becoming

565
00:25:27,480 --> 00:25:31,360
Speaker 1: financially independent, it's also reducing kind of the pain points

566
00:25:31,520 --> 00:25:33,320
Speaker 1: and levels of stress in your life on a day

567
00:25:33,359 --> 00:25:36,640
Speaker 1: to day basis, which is like incredibly meaningful. We've talked

568
00:25:36,640 --> 00:25:38,679
Speaker 1: in the past, Matt about how debt can make you dumber,

569
00:25:39,080 --> 00:25:41,359
Speaker 1: literally lopping off something like ten to twelve points from

570
00:25:41,400 --> 00:25:44,240
Speaker 1: your IQ. Some of the studies have shown and I

571
00:25:44,280 --> 00:25:47,560
Speaker 1: haven't seen any studies on stealth wealth, but my guess

572
00:25:47,600 --> 00:25:49,520
Speaker 1: is that folks who fall into that stealth wealth camp

573
00:25:49,680 --> 00:25:51,840
Speaker 1: would get a bit of an IQ boost. Right, So

574
00:25:51,880 --> 00:25:54,680
Speaker 1: instead of just leveling up ten points because they don't

575
00:25:54,680 --> 00:25:57,119
Speaker 1: have any debt, well what if they have like a

576
00:25:57,160 --> 00:26:02,200
Speaker 1: meaningful amount of financial margin and they're working towards financial independence.

577
00:26:02,240 --> 00:26:04,480
Speaker 1: I'm guessing that they almost get like five points on

578
00:26:04,520 --> 00:26:06,639
Speaker 1: the upside or something like that. And it's not that

579
00:26:06,720 --> 00:26:09,919
Speaker 1: having more money literally makes you smarter necessarily, but the

580
00:26:09,960 --> 00:26:12,120
Speaker 1: mental freedom that it affords you, the lack of having

581
00:26:12,119 --> 00:26:14,760
Speaker 1: to focus on money so intently day in and day out,

582
00:26:14,960 --> 00:26:16,640
Speaker 1: can be like a weight lifted off your shoulders.

583
00:26:16,640 --> 00:26:19,000
Speaker 2: I think I totally agree. Man. Yeah, So, you know,

584
00:26:19,040 --> 00:26:22,720
Speaker 2: the best reasons, the most important pros or advantages to

585
00:26:23,200 --> 00:26:25,720
Speaker 2: implementing stealth wealth in your life are going to be

586
00:26:25,720 --> 00:26:28,439
Speaker 2: mostly personal and internal. It's mostly going to be like

587
00:26:28,520 --> 00:26:31,360
Speaker 2: you as that beaver on that little part of the roper.

588
00:26:31,720 --> 00:26:34,240
Speaker 2: But there are some external reasons that are worth mentioning.

589
00:26:34,480 --> 00:26:36,240
Speaker 2: And these are some ways that we think having stealth

590
00:26:36,280 --> 00:26:40,119
Speaker 2: wealth will improve your relationships. And I think this is

591
00:26:40,080 --> 00:26:42,520
Speaker 2: gonna be a weird point to make. I'm used to

592
00:26:42,560 --> 00:26:46,320
Speaker 2: it for me, but because you don't look rich, I

593
00:26:46,320 --> 00:26:48,560
Speaker 2: think oftentimes what that's going to mean is that people

594
00:26:48,640 --> 00:26:51,639
Speaker 2: will then not ask you for money. Now bear with

595
00:26:51,640 --> 00:26:53,920
Speaker 2: me for a second, right, It's kind of like having

596
00:26:54,160 --> 00:26:56,800
Speaker 2: like a pickup truck. If you've got one, folks are

597
00:26:56,800 --> 00:26:59,440
Speaker 2: going to ask to borrow the truck. Like I feel like,

598
00:26:59,480 --> 00:27:00,000
Speaker 2: it's inevitab.

599
00:27:00,119 --> 00:27:02,520
Speaker 1: I've heard it from every friend that I have who

600
00:27:02,520 --> 00:27:03,120
Speaker 1: owns a truck.

601
00:27:03,119 --> 00:27:03,600
Speaker 2: They're like it.

602
00:27:03,520 --> 00:27:05,560
Speaker 1: It happens when my friends are moving, they always ask

603
00:27:05,600 --> 00:27:07,640
Speaker 1: to borrow it. And so basically, the more you show

604
00:27:07,640 --> 00:27:10,200
Speaker 1: off your your treasure trove of wealth to the world,

605
00:27:10,280 --> 00:27:12,560
Speaker 1: the more you're going to get hit up for a

606
00:27:12,600 --> 00:27:15,560
Speaker 1: loan or for donations. I just think that there can

607
00:27:15,640 --> 00:27:19,560
Speaker 1: be an awkwardness that comes to relationships and conversations when

608
00:27:19,600 --> 00:27:23,640
Speaker 1: there is a large sum of money that's not at stake,

609
00:27:23,680 --> 00:27:25,399
Speaker 1: but when they know that there's a large amount of

610
00:27:25,440 --> 00:27:28,560
Speaker 1: wealth involved, it can be I think tough to sometimes

611
00:27:28,640 --> 00:27:32,040
Speaker 1: know the motives of individuals. Like, for instance, imagine you

612
00:27:32,040 --> 00:27:35,080
Speaker 1: got a friend and you know that, oh man, you

613
00:27:35,119 --> 00:27:37,720
Speaker 1: just sold that tech company you started ten years ago,

614
00:27:37,760 --> 00:27:39,679
Speaker 1: and you just you sold that thing for fifteen million.

615
00:27:40,280 --> 00:27:42,680
Speaker 1: It changes things a little bit. So not only if

616
00:27:42,680 --> 00:27:45,600
Speaker 1: we're on this same vacation schedule anymore, man, because you

617
00:27:45,640 --> 00:27:47,720
Speaker 1: might be going to fancier places than I can afford it.

618
00:27:47,720 --> 00:27:49,840
Speaker 2: And so, like, I guess I'm putting myself in the

619
00:27:50,320 --> 00:27:52,720
Speaker 2: camp of like, I don't know how I would respond, Like,

620
00:27:52,760 --> 00:27:55,040
Speaker 2: it would be difficult to even know my own motives,

621
00:27:55,080 --> 00:27:57,320
Speaker 2: right because I might say, well, no, like I like

622
00:27:57,359 --> 00:28:00,040
Speaker 2: her because she's she's really cool, or she's funny, but

623
00:28:00,040 --> 00:28:02,560
Speaker 2: also you just found out she's worth four million, or

624
00:28:02,600 --> 00:28:04,520
Speaker 2: it's like, oh, I like that guy because we've got

625
00:28:04,520 --> 00:28:06,840
Speaker 2: a lot in common. We're gonna be buddies. It can

626
00:28:06,880 --> 00:28:09,879
Speaker 2: be difficult to know your own motives, I think to

627
00:28:10,240 --> 00:28:12,040
Speaker 2: a certain extent. And so I don't know. I just

628
00:28:12,040 --> 00:28:15,480
Speaker 2: wanted to bring that up because I think by living

629
00:28:15,520 --> 00:28:19,760
Speaker 2: more of that stealth wealth lifestyle, when you form relationships,

630
00:28:19,960 --> 00:28:22,320
Speaker 2: hopefully they're based on just like a shared interest as

631
00:28:22,359 --> 00:28:24,919
Speaker 2: opposed to the fact that you've got some money and.

632
00:28:24,960 --> 00:28:26,560
Speaker 1: They're hoping you're going to be the one who buys

633
00:28:26,640 --> 00:28:27,160
Speaker 1: lunch and dinner.

634
00:28:27,240 --> 00:28:30,080
Speaker 2: Yeah. Yeah, I just think it can keep relationships honest

635
00:28:30,320 --> 00:28:33,560
Speaker 2: both ways, regardless of which end of that conversation you're.

636
00:28:33,440 --> 00:28:35,080
Speaker 1: On completely agree. And I don't know if that's like

637
00:28:35,160 --> 00:28:37,439
Speaker 1: a pessimistic view of human nature. I think it's just

638
00:28:37,440 --> 00:28:38,880
Speaker 1: more of like a realistic one.

639
00:28:39,240 --> 00:28:39,640
Speaker 2: I think it's real.

640
00:28:40,040 --> 00:28:41,280
Speaker 1: It's hard for us to know how we're going to

641
00:28:41,320 --> 00:28:44,160
Speaker 1: react to other people when kind of circumstances change.

642
00:28:44,200 --> 00:28:45,400
Speaker 2: And it makes me I think there's.

643
00:28:45,240 --> 00:28:48,760
Speaker 1: More power in driving the Honda but being able to

644
00:28:48,800 --> 00:28:50,360
Speaker 1: afford the Ribbean than there is in.

645
00:28:50,320 --> 00:28:51,080
Speaker 2: Buying the Ribbean.

646
00:28:51,320 --> 00:28:54,360
Speaker 1: Right, And that's being said as someone who really would

647
00:28:54,440 --> 00:28:57,160
Speaker 1: like some day to own a Rision, but maybe when

648
00:28:57,520 --> 00:29:00,360
Speaker 1: it's older and more normalized and people aren't like talking

649
00:29:00,400 --> 00:29:03,760
Speaker 1: at my eighty five thousand dollars truck. Right, But just

650
00:29:03,800 --> 00:29:06,239
Speaker 1: think if you're the kind of person who has the

651
00:29:06,240 --> 00:29:08,800
Speaker 1: financial means to do that, but you put it off

652
00:29:08,840 --> 00:29:12,480
Speaker 1: and you retain that financial power instead of like putting

653
00:29:12,480 --> 00:29:14,440
Speaker 1: it into play in this world and losing it because

654
00:29:14,480 --> 00:29:16,560
Speaker 1: you now own an item that's quickly depreciating.

655
00:29:16,640 --> 00:29:18,600
Speaker 2: Yeah, and it's less likely going to have an impact

656
00:29:18,640 --> 00:29:20,320
Speaker 2: on your relationships as well, where it's just like, hey,

657
00:29:20,320 --> 00:29:22,120
Speaker 2: you want to go for a ride, and my new

658
00:29:23,440 --> 00:29:24,720
Speaker 2: what's it called? What's the suv?

659
00:29:24,960 --> 00:29:26,840
Speaker 1: Rivian, Oh, I feel the R one s Maybe that's

660
00:29:26,840 --> 00:29:27,080
Speaker 1: the one.

661
00:29:27,080 --> 00:29:27,320
Speaker 2: I like.

662
00:29:27,320 --> 00:29:30,880
Speaker 1: They're beautiful, they're awesome, and like when I can get

663
00:29:30,880 --> 00:29:33,080
Speaker 1: one six years old, like hopefully I will. Well, And

664
00:29:33,160 --> 00:29:35,360
Speaker 1: let's clarify to what we're talking about, because it's not

665
00:29:35,400 --> 00:29:37,520
Speaker 1: to say that folks are looking to come over to

666
00:29:37,600 --> 00:29:39,680
Speaker 1: your house and intentionally slip so they can sue you, right,

667
00:29:39,680 --> 00:29:42,000
Speaker 1: because hey, you just sold that tech company for fifteen mil.

668
00:29:42,400 --> 00:29:45,440
Speaker 2: Let me like, hopefully folks aren't targeting you to that degree.

669
00:29:45,520 --> 00:29:48,400
Speaker 1: Let me break my tailbone, like test the limits and

670
00:29:48,640 --> 00:29:51,280
Speaker 1: make you hire legal legal help or something like that.

671
00:29:51,440 --> 00:29:53,280
Speaker 1: But look at what happens when people win the lottery.

672
00:29:53,320 --> 00:29:57,360
Speaker 1: I mean this is well documented. Friends, relatives like they

673
00:29:57,360 --> 00:29:59,880
Speaker 1: can't help, but look at you differently, and vice versa.

674
00:30:00,120 --> 00:30:01,920
Speaker 1: I think you look at them differently. You're like, are

675
00:30:01,960 --> 00:30:03,719
Speaker 1: they gonna come hit me up for money now that

676
00:30:03,760 --> 00:30:07,000
Speaker 1: I'm loaded? Probably right, a lot of them do. And

677
00:30:07,320 --> 00:30:09,520
Speaker 1: and what happens to most of the people who end

678
00:30:09,600 --> 00:30:12,320
Speaker 1: up winning the lottery, Well, stat show that seventy percent

679
00:30:12,400 --> 00:30:14,200
Speaker 1: end up bankrupt within in just a few years time.

680
00:30:14,400 --> 00:30:17,680
Speaker 1: And so stealth wealth prevents those cousins you didn't even

681
00:30:17,720 --> 00:30:19,440
Speaker 1: know you had from coming out of the woodwork to

682
00:30:19,440 --> 00:30:21,280
Speaker 1: ask for money. I think we can learn a lot

683
00:30:21,320 --> 00:30:24,360
Speaker 1: from watching lottery winners how they handle their winnings and

684
00:30:24,400 --> 00:30:27,320
Speaker 1: how so much of it is on display for other

685
00:30:27,320 --> 00:30:30,000
Speaker 1: people to see, and how a lot of them when

686
00:30:30,000 --> 00:30:33,239
Speaker 1: they're interviewed, like here's down the road, they wish that

687
00:30:33,600 --> 00:30:36,320
Speaker 1: they never won, Like it doesn't it doesn't do as

688
00:30:36,400 --> 00:30:39,400
Speaker 1: much good in their lives as it doesn't counterbalance all

689
00:30:39,440 --> 00:30:40,160
Speaker 1: the harm that happens.

690
00:30:40,280 --> 00:30:42,360
Speaker 2: Yeah, and you know, as we're talking about folks hitting

691
00:30:42,360 --> 00:30:44,320
Speaker 2: you up for money, it's not that we're against giving

692
00:30:44,320 --> 00:30:46,560
Speaker 2: money away, right, Like this is a very important point

693
00:30:46,640 --> 00:30:49,080
Speaker 2: to make, Like we are all forgiving to causes that

694
00:30:49,160 --> 00:30:52,040
Speaker 2: you care about. It's not all about patting your investments

695
00:30:52,040 --> 00:30:54,480
Speaker 2: and you know, never enjoying the fruits of your labor.

696
00:30:55,000 --> 00:30:57,600
Speaker 2: But because of your mindset, like you just don't feel

697
00:30:57,600 --> 00:31:01,040
Speaker 2: the need to necessarily publish it to the wide world either.

698
00:31:01,760 --> 00:31:03,480
Speaker 2: It's pretty cool to be able to get to the

699
00:31:03,480 --> 00:31:05,520
Speaker 2: point in your life where you can meet the needs

700
00:31:05,520 --> 00:31:08,640
Speaker 2: in your community, where you can funnel some meaningful amounts

701
00:31:08,640 --> 00:31:11,120
Speaker 2: of money towards different nonprofits that you want to support.

702
00:31:11,440 --> 00:31:14,440
Speaker 2: And so stealth wealth need not and it probably shouldn't

703
00:31:14,480 --> 00:31:19,000
Speaker 2: be a completely self serving endeavor and actually a tool

704
00:31:19,400 --> 00:31:21,600
Speaker 2: an account out there to help you to give more

705
00:31:21,640 --> 00:31:26,200
Speaker 2: strategically is a donor advised fund. We've talked about bullish

706
00:31:26,200 --> 00:31:28,000
Speaker 2: on them, I love them here on the show before,

707
00:31:28,040 --> 00:31:29,640
Speaker 2: but they're just a great way to grow your money

708
00:31:29,840 --> 00:31:31,760
Speaker 2: so that you can you can give even more money

709
00:31:31,760 --> 00:31:35,120
Speaker 2: down the road while maximizing the tax benefits of those

710
00:31:35,160 --> 00:31:37,560
Speaker 2: gifts in the in the here and now. Daffy in

711
00:31:37,560 --> 00:31:41,520
Speaker 2: particular doesn't sound legit. It sounds like it sounds like

712
00:31:41,640 --> 00:31:45,320
Speaker 2: it's some Disney well you know what, like made up

713
00:31:45,400 --> 00:31:48,120
Speaker 2: kind of thing. But daffy dot org it's a great

714
00:31:48,120 --> 00:31:49,719
Speaker 2: site that we would recommend for you to check out.

715
00:31:49,800 --> 00:31:51,000
Speaker 1: Yeah, we'll link to it in the show notes. But

716
00:31:51,040 --> 00:31:53,719
Speaker 1: it's one of those. Yeah, it's great because even like

717
00:31:53,720 --> 00:31:56,959
Speaker 1: we talk about where to invest, Pangarden Fidelity are like

718
00:31:57,200 --> 00:31:59,680
Speaker 1: two of our favorites. There's a bunch of low cost providers.

719
00:31:59,680 --> 00:32:01,960
Speaker 1: There's ones we recommend when it comes to investing, but

720
00:32:02,080 --> 00:32:05,520
Speaker 1: even those guys are pretty expensive on the donor advised

721
00:32:05,560 --> 00:32:09,720
Speaker 1: fund front. And Daffy is a nonprofit that is basically

722
00:32:09,800 --> 00:32:13,480
Speaker 1: eliminating fees almost altogether. They charge a three dollars a

723
00:32:13,480 --> 00:32:16,320
Speaker 1: month fee, which is so much less than what the

724
00:32:16,760 --> 00:32:19,440
Speaker 1: big even low cost brokerage firms are charging. So if

725
00:32:19,480 --> 00:32:22,440
Speaker 1: you're interested in learning more, it's a really great service

726
00:32:22,600 --> 00:32:25,200
Speaker 1: and love what they're doing, and it makes it it

727
00:32:25,240 --> 00:32:27,520
Speaker 1: makes it easier to grow the money that you're trying

728
00:32:27,520 --> 00:32:29,440
Speaker 1: to give away to which if you're into the stealth

729
00:32:29,480 --> 00:32:31,960
Speaker 1: wealth lifestyle, you probably won't be into it. But Matt,

730
00:32:32,000 --> 00:32:34,600
Speaker 1: we've got more to talk about on the topic of

731
00:32:34,760 --> 00:32:38,360
Speaker 1: stealth wealth, including like a bunch of thoughts for how

732
00:32:38,400 --> 00:32:41,280
Speaker 1: you actually get there. Hopefully we've sold people, Hey, there's

733
00:32:41,280 --> 00:32:43,520
Speaker 1: a lot of pros to living the stealth wealth lifestyle,

734
00:32:43,560 --> 00:32:45,800
Speaker 1: but then how do you actually make it happen. We'll

735
00:32:45,800 --> 00:32:47,480
Speaker 1: talk about that in just a second.

736
00:32:56,800 --> 00:32:58,640
Speaker 2: All right, man, it is time for that rebber to

737
00:32:58,680 --> 00:33:01,480
Speaker 2: meet the road. Let's talk now about how you can

738
00:33:01,680 --> 00:33:05,600
Speaker 2: implement these different tenets of stealth wealth into your own life.

739
00:33:05,720 --> 00:33:09,240
Speaker 1: Maybe think about peeling out in my ribbian someday I don't.

740
00:33:09,440 --> 00:33:11,880
Speaker 2: I'm sure that there's technology that causes you to not

741
00:33:12,040 --> 00:33:14,680
Speaker 2: peel out because they want you to have maximum traction,

742
00:33:14,840 --> 00:33:17,960
Speaker 2: how fancy they are. But so this makes me think

743
00:33:18,000 --> 00:33:21,160
Speaker 2: of clinical psychology and in therapy they call it doing

744
00:33:21,280 --> 00:33:24,960
Speaker 2: the work, and it's also important to do some introspection

745
00:33:25,240 --> 00:33:28,440
Speaker 2: with your personal finances as well. We want you to

746
00:33:28,480 --> 00:33:31,840
Speaker 2: spend some time identifying the things that matter to you,

747
00:33:32,000 --> 00:33:33,800
Speaker 2: right like these are the different areas of spending that

748
00:33:33,840 --> 00:33:36,480
Speaker 2: are just specifically going to move the needle the most

749
00:33:36,560 --> 00:33:39,280
Speaker 2: in your life. And I'll mention that self knowledge of

750
00:33:39,320 --> 00:33:42,600
Speaker 2: this variety. It doesn't just jump into your lap, right,

751
00:33:42,600 --> 00:33:45,240
Speaker 2: It doesn't come about overnight, And so if you want

752
00:33:45,280 --> 00:33:46,840
Speaker 2: to live a stealth wealth kind of life, you're going

753
00:33:46,880 --> 00:33:48,760
Speaker 2: to need to make some changes in the first step

754
00:33:48,800 --> 00:33:52,320
Speaker 2: is to do some digging and some dissecting about your

755
00:33:52,400 --> 00:33:54,880
Speaker 2: current relationship with money and how it is that you

756
00:33:54,920 --> 00:33:57,280
Speaker 2: spend or maybe even don't spend your money. But if

757
00:33:57,320 --> 00:33:59,600
Speaker 2: you want some help on that front, well, we've created

758
00:33:59,680 --> 00:34:03,080
Speaker 2: an Emission Statement Guide as a PDF. We'll make sure

759
00:34:03,120 --> 00:34:04,600
Speaker 2: to link to that in the show notes, but that

760
00:34:04,680 --> 00:34:08,000
Speaker 2: will help to guide you through some of these deeper

761
00:34:08,520 --> 00:34:11,600
Speaker 2: questions about money. It's a fantastic workshoot to go through

762
00:34:11,680 --> 00:34:14,719
Speaker 2: with a partner or a significant other, but it'll help

763
00:34:14,760 --> 00:34:17,560
Speaker 2: you to decipher whether your money goals and the reality

764
00:34:17,600 --> 00:34:21,120
Speaker 2: of how you're actually spending your money are truly in sync.

765
00:34:21,480 --> 00:34:23,720
Speaker 1: Because in a lot of times, this is the truth

766
00:34:23,800 --> 00:34:26,759
Speaker 1: for all humans everywhere, in all times. I think, the

767
00:34:27,120 --> 00:34:29,080
Speaker 1: goals that we have for ourselves or the reality we

768
00:34:29,120 --> 00:34:32,680
Speaker 1: want to live into, like we fall short all the time, right,

769
00:34:32,920 --> 00:34:35,080
Speaker 1: and how in so many ways even and just in

770
00:34:35,440 --> 00:34:37,840
Speaker 1: the ways we want to treat each other, the amount

771
00:34:37,880 --> 00:34:40,560
Speaker 1: of money we want to give away, we are constantly

772
00:34:40,600 --> 00:34:42,799
Speaker 1: falling short of even our own goals, and so it's

773
00:34:42,880 --> 00:34:46,920
Speaker 1: important to kind of see the gap between money goals

774
00:34:46,960 --> 00:34:50,560
Speaker 1: and the reality that's playing out. So then without that knowledge,

775
00:34:50,600 --> 00:34:52,480
Speaker 1: it's really hard to close the gap and make changes.

776
00:34:52,719 --> 00:34:55,160
Speaker 1: And part of this is defining the why behind your money,

777
00:34:55,280 --> 00:34:57,759
Speaker 1: like what brings you joy, right, and what's best for

778
00:34:58,080 --> 00:35:01,680
Speaker 1: your family? These are really individual questions or questions to

779
00:35:01,680 --> 00:35:03,760
Speaker 1: be asked within a really small community like a family,

780
00:35:04,280 --> 00:35:07,919
Speaker 1: because the answers are going to vary dramatically for different family.

781
00:35:07,960 --> 00:35:09,920
Speaker 1: Some families might be saying we're trying to achieve that

782
00:35:09,920 --> 00:35:12,520
Speaker 1: digital nomad lifestyle, and other families are like, I want

783
00:35:12,560 --> 00:35:14,640
Speaker 1: the corner office, I'm moving up in my career, and

784
00:35:14,960 --> 00:35:17,080
Speaker 1: to each their own. Really on that front, we don't

785
00:35:17,160 --> 00:35:19,520
Speaker 1: want to tell you how to live in that regard

786
00:35:19,760 --> 00:35:21,760
Speaker 1: but asking those questions is going to help you figure

787
00:35:21,760 --> 00:35:23,640
Speaker 1: out how you want to live. And then you know

788
00:35:23,840 --> 00:35:27,320
Speaker 1: what will achieve more financial freedom and becoming legitimately wealthy

789
00:35:27,400 --> 00:35:30,560
Speaker 1: in that stealthy manner. What will that allow you to

790
00:35:30,640 --> 00:35:33,239
Speaker 1: achieve that you'd otherwise have to forego? Those are good

791
00:35:33,320 --> 00:35:35,480
Speaker 1: questions to ask, and then the truth is the world

792
00:35:35,560 --> 00:35:37,040
Speaker 1: is your oyster, but we often get stuck in a

793
00:35:37,120 --> 00:35:40,360
Speaker 1: rut living life in a way that it's reflecting societal

794
00:35:40,480 --> 00:35:42,799
Speaker 1: values rather than our own individual ones. It's that river

795
00:35:42,880 --> 00:35:46,000
Speaker 1: I was talking about, and we get swept along. We

796
00:35:46,080 --> 00:35:48,560
Speaker 1: flowed along it instead of like being the beaver. And

797
00:35:48,560 --> 00:35:51,680
Speaker 1: that's why we like the craft beer equivalent approach because

798
00:35:51,760 --> 00:35:54,160
Speaker 1: instead of spending money willy nilly on things that catch

799
00:35:54,160 --> 00:35:56,560
Speaker 1: your eye in the moment, funnel those dollars towards the

800
00:35:56,640 --> 00:36:00,000
Speaker 1: few things that have an outsized impact on your specific happiness.

801
00:36:00,400 --> 00:36:02,239
Speaker 1: Matt I have always said since the beginning of this

802
00:36:02,239 --> 00:36:05,279
Speaker 1: podcast that folk art is one of those things that

803
00:36:05,360 --> 00:36:07,040
Speaker 1: I spend money on and a lot of people are like, huh,

804
00:36:07,080 --> 00:36:11,640
Speaker 1: what's that and it's basically untrained artists. I love this stuff.

805
00:36:11,680 --> 00:36:14,959
Speaker 1: It's actually not terribly expensive, but it's something that Emily

806
00:36:15,000 --> 00:36:18,080
Speaker 1: and I funnel meaningful amounts of money towards every single year,

807
00:36:18,360 --> 00:36:20,520
Speaker 1: and I don't know any single other person that would

808
00:36:20,560 --> 00:36:22,640
Speaker 1: put folk art on their craft beer equivalent. It really

809
00:36:22,680 --> 00:36:26,040
Speaker 1: means a lot to us and our family, and those

810
00:36:26,080 --> 00:36:27,560
Speaker 1: are the kind of things that you have to think through,

811
00:36:27,600 --> 00:36:30,080
Speaker 1: like pick a few things. What did those craft beer

812
00:36:30,080 --> 00:36:32,479
Speaker 1: equivalents in your life have A few They might change

813
00:36:32,480 --> 00:36:34,600
Speaker 1: over the years too. For a while, for us it

814
00:36:34,640 --> 00:36:36,640
Speaker 1: was international travel and we dialed it back and it

815
00:36:36,760 --> 00:36:39,560
Speaker 1: was actually going out to more local restaurants for a minute.

816
00:36:39,560 --> 00:36:44,120
Speaker 1: But I think it's super personal, but it's important to

817
00:36:44,120 --> 00:36:46,920
Speaker 1: figure out so that it almost makes you more excited

818
00:36:46,960 --> 00:36:49,000
Speaker 1: to dial back spending in some of the other ways

819
00:36:49,000 --> 00:36:51,160
Speaker 1: that aren't moving the needle and funnel more money towards

820
00:36:51,160 --> 00:36:52,240
Speaker 1: the things you say you value.

821
00:36:52,360 --> 00:36:54,480
Speaker 2: I think that's something that matures over time too, or

822
00:36:54,520 --> 00:36:56,600
Speaker 2: something that you can discover, because like so, I think

823
00:36:56,640 --> 00:36:58,480
Speaker 2: I'm realizing for Kate and I that one of our

824
00:36:58,520 --> 00:37:03,120
Speaker 2: craft beer equivalents is spending money on dirt. Like literally,

825
00:37:03,920 --> 00:37:06,000
Speaker 2: that's the weirdest thing you said in a while. Yeah, yeah, yeah,

826
00:37:06,080 --> 00:37:08,239
Speaker 2: And so I'm talking about landscaping. I've mentioned this on

827
00:37:08,280 --> 00:37:10,880
Speaker 2: the show I guess maybe recently literally paying for dirt,

828
00:37:10,960 --> 00:37:14,640
Speaker 2: building up some beds, learning about different plants, and buying

829
00:37:14,680 --> 00:37:17,120
Speaker 2: those plants that we're gonna like plants, bushes, fruit trees,

830
00:37:17,160 --> 00:37:19,640
Speaker 2: all of these different things, all in an effort to

831
00:37:19,680 --> 00:37:23,200
Speaker 2: bring nature closer to us at home, to where we live.

832
00:37:23,600 --> 00:37:25,560
Speaker 2: And what's funny is that I don't think I would

833
00:37:25,560 --> 00:37:27,960
Speaker 2: have ever have said that was a craft beer equivalent.

834
00:37:27,960 --> 00:37:30,879
Speaker 2: But when I look back on our life specifically at

835
00:37:30,920 --> 00:37:33,040
Speaker 2: like previous homes that we've owned, we've always done this,

836
00:37:33,640 --> 00:37:35,399
Speaker 2: and I think at the time I may have thought, well,

837
00:37:35,480 --> 00:37:38,960
Speaker 2: from from a resale standpoint or once this becomes a rental,

838
00:37:38,960 --> 00:37:40,600
Speaker 2: this will be it'll be great to have this hedge

839
00:37:40,600 --> 00:37:42,560
Speaker 2: here to you know, not see the you know, the

840
00:37:42,600 --> 00:37:45,040
Speaker 2: neighbor's chain link, fans like all of these different things

841
00:37:45,040 --> 00:37:47,399
Speaker 2: that yes, I definitely was thinking, but at the time

842
00:37:47,400 --> 00:37:49,279
Speaker 2: we were doing it because we loved it. We just

843
00:37:49,320 --> 00:37:50,359
Speaker 2: truly enjoyed it.

844
00:37:51,000 --> 00:37:52,959
Speaker 1: And so I don't know, literally a country song about

845
00:37:52,960 --> 00:37:55,200
Speaker 1: buying dirt, by the way, is there I have to

846
00:37:55,200 --> 00:37:57,319
Speaker 1: play for you something not that I'm into. I don't

847
00:37:57,320 --> 00:37:59,799
Speaker 1: really like traditional but my my son does. And so

848
00:38:00,000 --> 00:38:01,600
Speaker 1: the places on a lot I.

849
00:38:01,560 --> 00:38:03,560
Speaker 2: Guess I'll mention this because we've spent a lot of

850
00:38:03,560 --> 00:38:06,640
Speaker 2: money on that, And it's on one hand, it might

851
00:38:06,680 --> 00:38:09,719
Speaker 2: be easy to feel guilty for literally spending thousands and

852
00:38:09,760 --> 00:38:12,200
Speaker 2: thousands of dollars that we did recently on dirt, But

853
00:38:12,280 --> 00:38:13,880
Speaker 2: on the other hand, I know that this is something

854
00:38:13,920 --> 00:38:16,279
Speaker 2: that we truly enjoy and that truly matters to us,

855
00:38:16,320 --> 00:38:18,920
Speaker 2: and so and again, having seen it throughout history that

856
00:38:18,960 --> 00:38:21,400
Speaker 2: this is something that has always brought us joy, it

857
00:38:21,400 --> 00:38:23,879
Speaker 2: helps me to know that we're certainly spending our money

858
00:38:23,920 --> 00:38:26,200
Speaker 2: in a meaningful way that moves the needle for us.

859
00:38:26,239 --> 00:38:28,200
Speaker 1: You just made it really easy for me to know

860
00:38:28,200 --> 00:38:29,640
Speaker 1: what to get you for your birthday and Christmas.

861
00:38:29,680 --> 00:38:33,240
Speaker 2: Now it's here you go, Buddy, Schert, fuck so heavy?

862
00:38:33,719 --> 00:38:35,640
Speaker 1: Why are there worms crawling out of it? But uh

863
00:38:35,760 --> 00:38:37,160
Speaker 1: got your favorite so far.

864
00:38:37,200 --> 00:38:39,440
Speaker 2: We're kind of talking about like mental work, But I

865
00:38:39,440 --> 00:38:42,319
Speaker 2: will say we're not psychologists, we're not even close. But

866
00:38:42,520 --> 00:38:45,120
Speaker 2: just money and psychology and how we think about things

867
00:38:45,160 --> 00:38:48,120
Speaker 2: they're so intertwined, is not even funny. How can we

868
00:38:48,400 --> 00:38:51,360
Speaker 2: truly expect to change the narrative that we tell that

869
00:38:51,360 --> 00:38:53,360
Speaker 2: we speak to ourselves when it comes to how we

870
00:38:53,400 --> 00:38:55,640
Speaker 2: handle the nuts and the bolts of our finances if

871
00:38:55,680 --> 00:38:57,719
Speaker 2: we're not doing some of this deeper work. And so

872
00:38:57,840 --> 00:39:00,359
Speaker 2: we just wanted to highlight that this is important. Don't

873
00:39:00,400 --> 00:39:03,120
Speaker 2: skip the step essentially, is what I'm saying here. But

874
00:39:03,200 --> 00:39:05,440
Speaker 2: you know, now that we've offered you our best Carl

875
00:39:05,480 --> 00:39:09,360
Speaker 2: Young or Brene Brown impersonation, I think it's important to

876
00:39:09,480 --> 00:39:11,480
Speaker 2: maybe get to some of the more practical ways to

877
00:39:11,520 --> 00:39:14,160
Speaker 2: make sure that you are able to achieve some of

878
00:39:14,160 --> 00:39:15,280
Speaker 2: that stealth wealth status.

879
00:39:15,280 --> 00:39:16,799
Speaker 1: All right, So we've got just a few things here

880
00:39:16,840 --> 00:39:19,560
Speaker 1: that we want to run through, and I think if

881
00:39:19,600 --> 00:39:22,239
Speaker 1: you take this tactic with each of these things we're

882
00:39:22,239 --> 00:39:25,080
Speaker 1: going to discuss, you will be pushing yourself more into

883
00:39:25,080 --> 00:39:27,520
Speaker 1: that stealth wealth mindset and way of living, which is

884
00:39:27,520 --> 00:39:29,920
Speaker 1: going to impact your overall ability to build wealth.

885
00:39:30,120 --> 00:39:31,040
Speaker 2: But doing it in.

886
00:39:31,080 --> 00:39:33,640
Speaker 1: A better way. That's countercultural, we would say. And so

887
00:39:34,040 --> 00:39:36,479
Speaker 1: the first thing is to keep your biggest expenses in check.

888
00:39:37,040 --> 00:39:38,560
Speaker 1: I mean, if you want to be wealthy but not

889
00:39:38,680 --> 00:39:41,080
Speaker 1: have other people know it, drive an older car, and

890
00:39:41,280 --> 00:39:43,880
Speaker 1: don't allocate too much of your income towards living in

891
00:39:43,920 --> 00:39:47,479
Speaker 1: a fancy house. It's really not rocket science. But again,

892
00:39:47,520 --> 00:39:49,319
Speaker 1: everything in our culture is pushing us towards doing the

893
00:39:49,360 --> 00:39:52,359
Speaker 1: exact opposite. Your bank tells you, hey, based on your

894
00:39:52,360 --> 00:39:54,560
Speaker 1: income and good credit, you can afford a six hundred

895
00:39:54,560 --> 00:39:58,719
Speaker 1: thousand dollars house, and that sounds enticing, and you start

896
00:39:58,760 --> 00:40:01,759
Speaker 1: looking at the zill listings and you're like, man, just

897
00:40:01,800 --> 00:40:04,000
Speaker 1: think about what six hundred k could buy me, because

898
00:40:04,040 --> 00:40:05,640
Speaker 1: I thought for a second we were going to be

899
00:40:05,640 --> 00:40:09,120
Speaker 1: stuck with five hundred thousand dollars limit. And boy, now

900
00:40:09,120 --> 00:40:10,600
Speaker 1: it's exciting to think that we can get more square

901
00:40:10,640 --> 00:40:14,759
Speaker 1: footage and nicer features. Makes you feel awesome. But you

902
00:40:14,840 --> 00:40:17,440
Speaker 1: might say, we're even upgrading neighborhoods. We didn't think we

903
00:40:17,440 --> 00:40:18,560
Speaker 1: were going to be able to live on this side

904
00:40:18,560 --> 00:40:21,000
Speaker 1: of town, but now we can. But the truth is,

905
00:40:21,080 --> 00:40:22,879
Speaker 1: like what we were talking about with millionaire next door,

906
00:40:23,239 --> 00:40:26,919
Speaker 1: that so many of those millionaires opt to live in neighborhoods.

907
00:40:27,160 --> 00:40:29,200
Speaker 1: They could afford something nicer, but they choose not to,

908
00:40:29,400 --> 00:40:31,399
Speaker 1: And so opting to buy a four hundred thousand dollars

909
00:40:31,440 --> 00:40:35,040
Speaker 1: house instead of the six hundred thousand dollars one massively

910
00:40:35,040 --> 00:40:38,000
Speaker 1: increases your financial options, and instead of being house poor,

911
00:40:38,040 --> 00:40:41,200
Speaker 1: you've got extra cash for saving and investing and maybe

912
00:40:41,200 --> 00:40:43,080
Speaker 1: even that big trip that you want to take, and

913
00:40:43,120 --> 00:40:45,800
Speaker 1: so you can buy your freedom so much more easily

914
00:40:46,080 --> 00:40:49,680
Speaker 1: by making just one or two higher magnitude decisions. And

915
00:40:49,719 --> 00:40:51,640
Speaker 1: when you get those big things right, you don't have

916
00:40:51,680 --> 00:40:53,840
Speaker 1: to sweat the small stuff to nearly the same degree.

917
00:40:53,880 --> 00:40:56,440
Speaker 1: The coffee, the way you get out at your favorite

918
00:40:56,520 --> 00:40:58,719
Speaker 1: local cafe. It's not putting you over the edge. You

919
00:40:58,719 --> 00:41:01,600
Speaker 1: can buy your five dollars latte a week with absolutely

920
00:41:01,600 --> 00:41:04,160
Speaker 1: no remorse because you have kept that massive expense in check.

921
00:41:04,200 --> 00:41:07,359
Speaker 1: Instead of signing yourself up for a thirty five hundred

922
00:41:07,360 --> 00:41:10,040
Speaker 1: dollars mortgage, you kept it in check at twenty five hundred,

923
00:41:10,040 --> 00:41:11,320
Speaker 1: which you can easily afford.

924
00:41:11,480 --> 00:41:12,439
Speaker 2: And it just gives you.

925
00:41:12,440 --> 00:41:14,960
Speaker 1: A whole lot more options. And you're kind of you're

926
00:41:15,000 --> 00:41:17,000
Speaker 1: living in a stealthy way where you're not showing it

927
00:41:17,000 --> 00:41:17,439
Speaker 1: off either.

928
00:41:17,600 --> 00:41:20,000
Speaker 2: That's right. And next, we would recommend for folks to

929
00:41:20,120 --> 00:41:22,640
Speaker 2: rain in their lifestyle of creep. And this is different

930
00:41:22,640 --> 00:41:24,399
Speaker 2: than what you just talked about, Joe, because you're talking

931
00:41:24,480 --> 00:41:28,799
Speaker 2: about you're focusing on the larger line item expenses. But

932
00:41:28,960 --> 00:41:33,040
Speaker 2: when your income increases, don't let your expenses go up commensurately.

933
00:41:33,320 --> 00:41:36,480
Speaker 2: Just across the board, stealth wealth is not achieved overnight.

934
00:41:36,520 --> 00:41:38,399
Speaker 2: It's going to take persistent action. It's going to take

935
00:41:38,400 --> 00:41:41,480
Speaker 2: intentionality both on the savings but then also on the

936
00:41:41,520 --> 00:41:44,520
Speaker 2: spending side of the ledger as well. Sure, we want

937
00:41:44,520 --> 00:41:47,359
Speaker 2: you to negotiate a sweet raise or switch jobs if

938
00:41:47,400 --> 00:41:49,040
Speaker 2: you need to in order to make more money and

939
00:41:49,120 --> 00:41:51,239
Speaker 2: maybe get some better benefits. And it's not like that

940
00:41:51,239 --> 00:41:54,279
Speaker 2: those are easy steps. But when more money starts flowing in,

941
00:41:54,320 --> 00:41:56,840
Speaker 2: make sure that you use that as fuel for the

942
00:41:56,840 --> 00:41:59,839
Speaker 2: stealth wealth fire, not as an excuse to just ramp

943
00:41:59,920 --> 00:42:03,280
Speaker 2: up up your mindless spending. And this is especially difficult

944
00:42:03,280 --> 00:42:05,960
Speaker 2: because we just live on social media. The stats show

945
00:42:06,000 --> 00:42:08,239
Speaker 2: now that the average person spends two and a half

946
00:42:08,280 --> 00:42:13,080
Speaker 2: hours on the different social media apps right like TikTok, Instagram, Facebook.

947
00:42:13,360 --> 00:42:15,640
Speaker 2: It is so easy to see what our friends are buying,

948
00:42:15,680 --> 00:42:18,440
Speaker 2: what they're spending their money on, and on top of that,

949
00:42:18,440 --> 00:42:22,080
Speaker 2: we're getting served some pretty enticing highly targeted.

950
00:42:21,600 --> 00:42:25,239
Speaker 1: Ads can double wammy, Yes, yes, push everything down that

951
00:42:25,320 --> 00:42:26,600
Speaker 1: river again further and faster.

952
00:42:26,680 --> 00:42:28,600
Speaker 2: There are very few things except for the how to

953
00:42:28,640 --> 00:42:31,600
Speaker 2: Money pod account and the how to Money Facebook group,

954
00:42:31,600 --> 00:42:33,560
Speaker 2: but there are very few things that are pointing us

955
00:42:33,560 --> 00:42:37,759
Speaker 2: in the direction of spending less money the algorithm. It

956
00:42:37,800 --> 00:42:39,480
Speaker 2: is going to win sometimes, but just don't let it

957
00:42:39,520 --> 00:42:40,359
Speaker 2: have the final say.

958
00:42:40,400 --> 00:42:43,160
Speaker 1: And the more you kind of opt out of consuming

959
00:42:43,239 --> 00:42:45,160
Speaker 1: that stuff, I think there's some power in that too.

960
00:42:45,440 --> 00:42:47,399
Speaker 1: And it makes me think too that the next thing

961
00:42:47,600 --> 00:42:49,759
Speaker 1: that if you want to achieve stealth wealth you need

962
00:42:49,800 --> 00:42:51,479
Speaker 1: to do is to hang out with folks who share

963
00:42:51,520 --> 00:42:54,800
Speaker 1: your values. And it's not that you want to exclusively

964
00:42:54,960 --> 00:42:58,279
Speaker 1: hang out with dirt cheap people, right, frugal folks and

965
00:42:58,560 --> 00:43:01,359
Speaker 1: ditch your current friends whole new set of friends because hey,

966
00:43:01,520 --> 00:43:04,080
Speaker 1: you guys spend too much money. I got to hang

967
00:43:04,080 --> 00:43:05,879
Speaker 1: out with the Matt and Joeles of this world, who

968
00:43:06,040 --> 00:43:06,719
Speaker 1: are you know.

969
00:43:06,800 --> 00:43:07,600
Speaker 2: Willing wrong with that?

970
00:43:07,719 --> 00:43:07,879
Speaker 1: Right?

971
00:43:07,880 --> 00:43:10,480
Speaker 2: Who loved dirt and crappy art. Right.

972
00:43:10,760 --> 00:43:14,600
Speaker 1: But the more you run in circles, both online and

973
00:43:14,760 --> 00:43:17,400
Speaker 1: in real life, who share your commitment to the stealth

974
00:43:17,440 --> 00:43:21,120
Speaker 1: wealth mindset and not showing off in ever growing abundance

975
00:43:21,160 --> 00:43:23,959
Speaker 1: of possessions, the more you'll feel comfortable doing the same.

976
00:43:24,239 --> 00:43:26,080
Speaker 1: It's just so easy for us humans to want to

977
00:43:26,120 --> 00:43:29,160
Speaker 1: mimic each other, and so yeah, change the herd that's

978
00:43:29,200 --> 00:43:32,960
Speaker 1: influencing you the most acutely. And now the herd mentality

979
00:43:33,040 --> 00:43:35,120
Speaker 1: is a good thing. It's helping funnel you in the

980
00:43:35,200 --> 00:43:37,520
Speaker 1: right direction. And one simple thing to do is to

981
00:43:37,640 --> 00:43:39,520
Speaker 1: join like the how to Money Facebook group got ten

982
00:43:39,560 --> 00:43:42,120
Speaker 1: thousand people there. They're helping each other out, asking good

983
00:43:42,160 --> 00:43:46,200
Speaker 1: questions and offering good financial advice. The non consumer Facebook

984
00:43:46,200 --> 00:43:48,920
Speaker 1: page we just had Katie on, We just talked about her, like,

985
00:43:49,120 --> 00:43:51,480
Speaker 1: join those kinds of groups. Those are the kind of

986
00:43:51,480 --> 00:43:55,800
Speaker 1: people who are trying to live this frugal, stealth wealth life.

987
00:43:55,840 --> 00:43:58,040
Speaker 1: They've got that mindset going on, and that's going to,

988
00:43:58,120 --> 00:44:00,560
Speaker 1: I think, propel you. You're gonna be surrounded by a

989
00:44:00,640 --> 00:44:03,520
Speaker 1: horde of people trying to do the same thing, and

990
00:44:03,560 --> 00:44:04,840
Speaker 1: there's a lot of power in that.

991
00:44:04,840 --> 00:44:07,239
Speaker 2: That's right. Yeah, And stealth wealth also doesn't mean that

992
00:44:07,320 --> 00:44:10,120
Speaker 2: you avoid talking about money, though, because I feel like

993
00:44:10,160 --> 00:44:14,239
Speaker 2: so far we've sort of downplayed the like the significance

994
00:44:14,280 --> 00:44:16,680
Speaker 2: of money. We're all about opening the lines of communication

995
00:44:16,920 --> 00:44:20,520
Speaker 2: and having productive money conversations with our friends and family.

996
00:44:21,120 --> 00:44:22,680
Speaker 2: But there's you know, there's no need to reveal your

997
00:44:22,680 --> 00:44:26,680
Speaker 2: four one K balance, bragging about a super high income

998
00:44:26,960 --> 00:44:29,200
Speaker 2: or your investment balance like that. That kind of takes

999
00:44:29,239 --> 00:44:32,360
Speaker 2: you out actually of that stealth wealth mindset. But you

1000
00:44:32,400 --> 00:44:34,759
Speaker 2: can for sure talk about frugality, you can talk about

1001
00:44:34,760 --> 00:44:37,880
Speaker 2: investing and the money moves that have helped you create

1002
00:44:38,160 --> 00:44:40,960
Speaker 2: some more breathing room, and you talk about how these

1003
00:44:41,120 --> 00:44:44,799
Speaker 2: changes have you know, massively positively impact your life. How

1004
00:44:44,800 --> 00:44:47,200
Speaker 2: the money listeners are just the kinds of folks out

1005
00:44:47,239 --> 00:44:50,360
Speaker 2: there who should be bringing that conversation to your friends

1006
00:44:50,360 --> 00:44:53,879
Speaker 2: and your family and to your neighbors in an accessible way.

1007
00:44:54,000 --> 00:44:56,520
Speaker 2: Just like That's truly our goal here on the show

1008
00:44:56,560 --> 00:44:59,360
Speaker 2: is to make these money conversations accessible. We want it

1009
00:44:59,400 --> 00:45:01,880
Speaker 2: to be a casual way that you learn about the

1010
00:45:02,400 --> 00:45:04,800
Speaker 2: smart money moves that you should be making, and hopefully

1011
00:45:04,840 --> 00:45:07,160
Speaker 2: that's something that you can do with those around you

1012
00:45:07,200 --> 00:45:07,520
Speaker 2: as well.

1013
00:45:07,600 --> 00:45:09,600
Speaker 1: Yeah, I think it's important to mention too. We've talked

1014
00:45:09,600 --> 00:45:11,480
Speaker 1: a lot about the stealthy part of it, but wealth,

1015
00:45:11,680 --> 00:45:13,719
Speaker 1: the wealth part of it's important too. We want you

1016
00:45:13,760 --> 00:45:16,759
Speaker 1: saving and investing. We want you funneling more dollars as

1017
00:45:16,760 --> 00:45:19,520
Speaker 1: you live this lifestyle into those investment accounts. We want

1018
00:45:19,560 --> 00:45:23,319
Speaker 1: you to be growing wealth for your future. We want

1019
00:45:23,360 --> 00:45:26,400
Speaker 1: you to be taking part of compounding returns inside your

1020
00:45:26,440 --> 00:45:29,440
Speaker 1: four one K, inside your IRA, investing in real estate, right,

1021
00:45:29,520 --> 00:45:32,080
Speaker 1: if that's your jam. Building wealth is great, but being

1022
00:45:32,120 --> 00:45:34,799
Speaker 1: invisibly wealthy, right, opting for the goal of stealth wealth

1023
00:45:34,880 --> 00:45:37,080
Speaker 1: that comes with a lot of power, so you avoid

1024
00:45:37,120 --> 00:45:39,560
Speaker 1: the trappings that many folks fall into, but you get

1025
00:45:39,560 --> 00:45:42,320
Speaker 1: to live life fully on your own terms. And stealth

1026
00:45:42,360 --> 00:45:46,160
Speaker 1: wealth it leans into a different definition of success and

1027
00:45:46,200 --> 00:45:48,719
Speaker 1: it largely casts aside the current cultural view of it.

1028
00:45:48,800 --> 00:45:52,319
Speaker 1: So the definition of success that we often hear from

1029
00:45:52,360 --> 00:45:55,560
Speaker 1: the people around us is more money in the bank account.

1030
00:45:55,520 --> 00:45:59,920
Speaker 1: It's not necessarily more flexibility, right, And that doesn't have

1031
00:46:00,120 --> 00:46:01,480
Speaker 1: to be the case for you. That doesn't have to

1032
00:46:01,520 --> 00:46:03,600
Speaker 1: be your definition of success, and in fact, we think

1033
00:46:03,640 --> 00:46:06,000
Speaker 1: that's not a great definition of success. It makes me

1034
00:46:06,000 --> 00:46:08,799
Speaker 1: think of a tweet I saw recently Matt from Kevin

1035
00:46:08,840 --> 00:46:11,880
Speaker 1: O'Leary who hosts Shark Tank, one of the hosts on

1036
00:46:11,960 --> 00:46:15,080
Speaker 1: Shark Tank, and he basically was that was his definition,

1037
00:46:15,280 --> 00:46:17,040
Speaker 1: was like, it doesn't matter if you spend less time

1038
00:46:17,040 --> 00:46:18,600
Speaker 1: with your family and friends, if your mom hates you,

1039
00:46:18,600 --> 00:46:21,200
Speaker 1: that kind of thing, but as long as you have

1040
00:46:21,280 --> 00:46:23,400
Speaker 1: more money in the bank and then you are a success.

1041
00:46:23,440 --> 00:46:27,600
Speaker 1: And I just can't disagree more with his definition. And

1042
00:46:27,680 --> 00:46:30,399
Speaker 1: so this stealth wealth mindset is kind of a flat

1043
00:46:30,440 --> 00:46:32,680
Speaker 1: out rejection of that kind of way of thinking, and

1044
00:46:32,719 --> 00:46:34,360
Speaker 1: we think that this is a path that's available to

1045
00:46:34,400 --> 00:46:37,400
Speaker 1: folks of all sorts, of different professions and different income levels.

1046
00:46:37,600 --> 00:46:39,359
Speaker 1: But stealth wealth is something that I think we can

1047
00:46:39,400 --> 00:46:41,800
Speaker 1: all embrace, at least to a certain extent in our lives.

1048
00:46:41,960 --> 00:46:44,000
Speaker 2: Yeah, I really like how you broke it down to

1049
00:46:44,080 --> 00:46:46,239
Speaker 2: like the stealth there's like the stealth side and there's

1050
00:46:46,280 --> 00:46:48,759
Speaker 2: the wealth side. And the stealth side is honestly, it's

1051
00:46:48,760 --> 00:46:51,200
Speaker 2: about frugality and it's another way to think about it.

1052
00:46:51,400 --> 00:46:53,560
Speaker 2: And so what I love about that is, like you said,

1053
00:46:53,600 --> 00:46:56,440
Speaker 2: it's incredibly accessible. It's something that you can start to

1054
00:46:56,480 --> 00:46:59,600
Speaker 2: implement today, like literally, to try to earn more money.

1055
00:46:59,640 --> 00:47:02,360
Speaker 2: That takes time. It takes working hard at work. I

1056
00:47:02,400 --> 00:47:03,920
Speaker 2: mean hopefully you already are working hard at work, but

1057
00:47:04,160 --> 00:47:06,880
Speaker 2: it takes documenting your progress, and it takes taking on

1058
00:47:06,960 --> 00:47:09,640
Speaker 2: new projects. It's it's this thing that you have to

1059
00:47:09,640 --> 00:47:12,680
Speaker 2: build upon, where as expenses, like that's literally something you

1060
00:47:12,719 --> 00:47:14,640
Speaker 2: could do today on the way home from work, or

1061
00:47:14,760 --> 00:47:16,919
Speaker 2: actually not do on the way home from work, because

1062
00:47:16,920 --> 00:47:20,040
Speaker 2: it takes in action to be able to not spend money.

1063
00:47:20,080 --> 00:47:22,120
Speaker 2: A lot of times it means not stopping at the

1064
00:47:22,800 --> 00:47:24,840
Speaker 2: gas station and buying the coke or whatever it is

1065
00:47:24,840 --> 00:47:27,320
Speaker 2: that you typically that maybe you like to do on Wednesdays.

1066
00:47:27,360 --> 00:47:30,719
Speaker 2: I don't know, but yeah, man, let's shift gears. Let's

1067
00:47:30,719 --> 00:47:33,040
Speaker 2: get back to the beer that you and I enjoyed

1068
00:47:33,120 --> 00:47:36,959
Speaker 2: during this episode. This was a copper, a traditional alt

1069
00:47:36,960 --> 00:47:41,319
Speaker 2: beer by the old Mecklenburg Brewery. These guys are out

1070
00:47:41,360 --> 00:47:44,319
Speaker 2: of Charlotte says on the back here it's that's Charlotte, right,

1071
00:47:44,320 --> 00:47:47,920
Speaker 2: celt Yeah, the airport, think so, yeah, celt born and brewed.

1072
00:47:48,200 --> 00:47:49,799
Speaker 2: But yeah, what were your thoughts well on this one.

1073
00:47:49,840 --> 00:47:51,960
Speaker 1: That's a good little town, by the way, Charlotte says

1074
00:47:52,000 --> 00:47:53,600
Speaker 1: over here on the side, Ye, kind of like Atlanta, Junior.

1075
00:47:53,640 --> 00:47:55,760
Speaker 2: I think that's how I think of it. Mecklenburg County.

1076
00:47:55,800 --> 00:47:56,920
Speaker 2: Oh that's a specific county.

1077
00:47:57,040 --> 00:47:59,960
Speaker 1: Sorry, sorry Charlotte listeners, if that's not a fair characters,

1078
00:48:00,760 --> 00:48:02,279
Speaker 1: and if you feel judged by that, No, it is

1079
00:48:02,280 --> 00:48:02,759
Speaker 1: a great place.

1080
00:48:02,800 --> 00:48:03,279
Speaker 2: It is is.

1081
00:48:03,280 --> 00:48:06,319
Speaker 1: But if you're into banking, through a lot of banking

1082
00:48:06,680 --> 00:48:09,120
Speaker 1: there in Jacksonville, Florida to another place and Texas getting

1083
00:48:09,120 --> 00:48:12,600
Speaker 1: more bankers. But yeah, this was a classic multi brown

1084
00:48:12,800 --> 00:48:15,120
Speaker 1: ish ale is how I think about it. It's not

1085
00:48:15,200 --> 00:48:17,319
Speaker 1: my preferred style, but it takes me back to kind

1086
00:48:17,360 --> 00:48:19,000
Speaker 1: of the early days of craft beer. This is the

1087
00:48:19,080 --> 00:48:21,040
Speaker 1: kind of beer I was all about. I was all

1088
00:48:21,040 --> 00:48:24,319
Speaker 1: into kind of the malty browns, and I just don't

1089
00:48:24,360 --> 00:48:27,640
Speaker 1: drink them nearly as much any dark European pilsners. Yeah, yeah, yeah,

1090
00:48:27,680 --> 00:48:29,480
Speaker 1: so it brings me back to like twenty five year

1091
00:48:29,520 --> 00:48:32,959
Speaker 1: old Joel and now I'm thirty nine and my tastes

1092
00:48:33,000 --> 00:48:36,239
Speaker 1: have evolved. But yeah, so this isn't necessarily like top

1093
00:48:36,280 --> 00:48:38,640
Speaker 1: ten or anything for me, but I'd say it's solid,

1094
00:48:38,760 --> 00:48:40,719
Speaker 1: and yeah, it makes it makes make me reminisce a.

1095
00:48:40,719 --> 00:48:43,399
Speaker 2: Little say, doesn't go in any top you know, best

1096
00:48:43,440 --> 00:48:46,480
Speaker 2: beers I've ever had list, but definitely enjoyable. And I

1097
00:48:46,480 --> 00:48:49,400
Speaker 2: would also characterize it as bready, like it kind of

1098
00:48:49,440 --> 00:48:52,239
Speaker 2: has that bready, whole wheat loaf of bread kind of

1099
00:48:52,280 --> 00:48:55,120
Speaker 2: flavor going on with it. I can't remember how my

1100
00:48:55,160 --> 00:48:57,200
Speaker 2: father in law or where he picked us up, but

1101
00:48:57,239 --> 00:48:59,200
Speaker 2: I think maybe he was up there actually in Charlotte

1102
00:48:59,200 --> 00:49:02,200
Speaker 2: and picked up six pack of this beer. But I

1103
00:49:02,239 --> 00:49:05,160
Speaker 2: wanted to point out too that it had the most

1104
00:49:05,200 --> 00:49:07,359
Speaker 2: unique way of opening the beer. Oh yeah, you didn't

1105
00:49:07,360 --> 00:49:09,359
Speaker 2: see him as into it. I actually liked it, so

1106
00:49:09,440 --> 00:49:12,080
Speaker 2: it was like a metallic It's a bottle of beer,

1107
00:49:12,120 --> 00:49:14,560
Speaker 2: and it's got the traditional metal cap, but it had

1108
00:49:14,560 --> 00:49:17,160
Speaker 2: like a pole tab attached to the cap that when

1109
00:49:17,200 --> 00:49:19,800
Speaker 2: you pulled, broke the cap off. I don't know, I

1110
00:49:19,880 --> 00:49:21,200
Speaker 2: kind of liked it. It made it so that you

1111
00:49:21,200 --> 00:49:23,239
Speaker 2: can open a bottle of beer like a sealed not

1112
00:49:23,280 --> 00:49:26,319
Speaker 2: a twist top, but an actual pop top bottle of beer.

1113
00:49:26,360 --> 00:49:27,200
Speaker 1: Made it easy.

1114
00:49:26,960 --> 00:49:30,000
Speaker 2: Without an opener, which I've literally never seen it before.

1115
00:49:30,000 --> 00:49:32,080
Speaker 2: It took. It was kind of odd, but it first cute.

1116
00:49:32,120 --> 00:49:34,160
Speaker 2: It's cute, but I like it. I'm all about it.

1117
00:49:34,280 --> 00:49:36,759
Speaker 1: Well, big thanks to Greg for donating this one of

1118
00:49:36,840 --> 00:49:38,960
Speaker 1: the show. He's a good father in law Matt, So.

1119
00:49:39,040 --> 00:49:41,400
Speaker 2: Yeah, donating beer to the show, it's not to like about.

1120
00:49:41,160 --> 00:49:43,400
Speaker 1: It scores and points with me for sure, So all right,

1121
00:49:43,440 --> 00:49:44,919
Speaker 1: that's going to do it for this episode. For folks

1122
00:49:44,920 --> 00:49:46,840
Speaker 1: who want the show notes links to some of the

1123
00:49:46,880 --> 00:49:49,120
Speaker 1: resources that we mentioned on the show today, you can

1124
00:49:49,160 --> 00:49:51,600
Speaker 1: find those up on our site at howtomoney dot com.

1125
00:49:51,640 --> 00:49:54,319
Speaker 2: That's right, And if you enjoyed this episode and have

1126
00:49:54,480 --> 00:49:57,279
Speaker 2: not yet left us a review over at Apple Podcasts

1127
00:49:57,440 --> 00:50:00,719
Speaker 2: or Spotify wherever you listen to your podcas, we would

1128
00:50:00,719 --> 00:50:03,600
Speaker 2: greatly appreciate for you to do that. That's just one

1129
00:50:04,280 --> 00:50:06,080
Speaker 2: I was going to say, one small way that you

1130
00:50:06,080 --> 00:50:07,520
Speaker 2: can help get the word out, but it really does

1131
00:50:07,640 --> 00:50:11,000
Speaker 2: have a big impact on the searchability of our podcast.

1132
00:50:11,160 --> 00:50:13,400
Speaker 2: So leave us a solid one over there and a

1133
00:50:13,440 --> 00:50:15,960
Speaker 2: big thank you in advance. Joel is going to be

1134
00:50:16,000 --> 00:50:18,680
Speaker 2: it for this episode, Buddy. Until next time, Best Friends Out,

1135
00:50:18,719 --> 00:50:19,920
Speaker 2: Best Friends Out,