Speaker 1: Welcome to how to Money. I'm Joel and I'm Matt
Speaker 1: and today or discussing frontloading the sacrifice with money pro
Speaker 1: doc G. Yeah, joe us right, we've got doc G on.
Speaker 1: He is involved in the financial independence community. He's a
Speaker 1: co host of a podcast as well, so I'm looking
Speaker 1: forward to hearing what he has to say about five. Yeah,
Speaker 1: it's independence. And if people are wondering why he's called
Speaker 1: doc G, well, there are a lot of people that
Speaker 1: blog and do podcasts in that community that have day
Speaker 1: jobs and they don't really want to let everyone know
Speaker 1: that they're a part of the fire community, which is
Speaker 1: financial independent, retire early, and so dc G it goes
Speaker 1: kind of under that anonymous name so that his employer
Speaker 1: doesn't find out that's who he is. Yeah. You know,
Speaker 1: the first time I realized that, when I came across
Speaker 1: a bunch of those folks, I thought it was the
Speaker 1: weirdest thing ever, because there's they post pictures of themselves
Speaker 1: and put like a sticker over their face that sort
Speaker 1: of thing as well, like no social media at all.
Speaker 1: But uh, you know, it does make sense. You don't
Speaker 1: want to jeopardize your job, and when it comes to
Speaker 1: how much money you have, you don't necessarily want all
Speaker 1: that information out there because a lot of those folks
Speaker 1: lay it all out there like they lay a bear,
Speaker 1: and you can look at their budgets, how much they're spending,
Speaker 1: how much they're earning, and there's a lot of privacy
Speaker 1: that you're giving up when you're doing that. So I
Speaker 1: can get behind that now, but initially it totally through me.
Speaker 1: But uh, what you got for us today? Yes, So
Speaker 1: I'm excited about this episode. I feel like there's a
Speaker 1: lot of takeaway for folks as they kind of start
Speaker 1: to think about saving and investing. But before we get
Speaker 1: to that, Matt, I wanted to mention two different frugal
Speaker 1: versus cheaps. Yeah, let's get back to that, Fermitt. We
Speaker 1: haven't done a frugal versus cheap. I saw that note
Speaker 1: on there. I was hoping you'd have one. Yeah. So
Speaker 1: MLS soccer is back and I'm super excited. I know
Speaker 1: you are too. We root for our local team in Atlanta,
Speaker 1: Atlanta United, and I have two frugal versus cheps. I
Speaker 1: wanted to share. One was is it frugal or cheap?
Speaker 1: That I a couple of years ago, right when Atlanta
Speaker 1: United first launched. I bought a jersey from China. I
Speaker 1: know you're gonna say that, because it was much much
Speaker 1: cheaper than buying one from like Adidas or the Team
Speaker 1: Store or something like that. So I ended up getting
Speaker 1: a jersey I think like twenty bucks shipped to my door.
Speaker 1: That is cheap, that is inexpensive, That is very affordable.
Speaker 1: But then when I put it on, all my friends
Speaker 1: noticed instantaneously that it wasn't the real thing because it
Speaker 1: was this completely different shade of bread, and like the
Speaker 1: emblem and stuff like that started to fade super quickly,
Speaker 1: just wear completely off the jersey, and I just stopped
Speaker 1: wearing it because honestly, it just looked ratchet. So was
Speaker 1: that frugal or cheap? I mean from the get go,
Speaker 1: I I noticed as well. And you can always spot
Speaker 1: the folks who had on the Chinese jerseys because they
Speaker 1: were a brighter red. And I remember Pat specifically, our
Speaker 1: buddy Pat. He would he would point him out. He'd
Speaker 1: be like Chinese jersey, Chinese jersey because he hated him.
Speaker 1: So the fact that you had to get another one,
Speaker 1: or you didn't have to, but you chose to get
Speaker 1: a new one you know, I asked for one for
Speaker 1: my birthday because they completely fell on my face when
Speaker 1: they came to buying that one. So i'll that's a
Speaker 1: frugal fail. That was that was me cheap and out
Speaker 1: being cheap, and I lost out on that one. So
Speaker 1: I tried to go for the knockoff. It didn't work.
Speaker 1: It ended up just kind of sitting in the back
Speaker 1: of my dor because I felt too ashamed to wear it. Man,
Speaker 1: I gotta be honest. You can wear it cutting the
Speaker 1: grass or something though, Right, that's a good point. Yeah,
Speaker 1: all right, I got one more for you, So frugal
Speaker 1: or cheap I doubleheader. I took my my oldest daughter
Speaker 1: to a game the other night and it was super fun.
Speaker 1: It was we just had the best time, just her
Speaker 1: and I hitting up a soccer game. And if it's
Speaker 1: a late night game and you park at one of
Speaker 1: the meters that's like a third of a mile away,
Speaker 1: you don't have to pay to park, and so it's
Speaker 1: pretty sweet because when you get close into the stadium,
Speaker 1: people are, you know, lots of times we're riding bikes
Speaker 1: and I probably should have ridden bikes that night, but
Speaker 1: I didn't, and we drove and so I parked at
Speaker 1: one of the meters and and didn't pay. But but
Speaker 1: then we had like this really long walk ahead of
Speaker 1: us to the stadium. So is that frugal or cheap
Speaker 1: that I'm that I'm parking further away at getting free parking,
Speaker 1: but taking that long walk to the stadium. I think, Okay, Well,
Speaker 1: first of all, I think you should have ridden your bikes. Yeah, yeah,
Speaker 1: that's what I would have That's what i'd say. First. Uh, yeah,
Speaker 1: I think that's fairly frugal. I think you know, what
Speaker 1: you're teaching your daughter is that just because you can
Speaker 1: part closer, like we're not necessarily going to do that,
Speaker 1: And as long as you're not walking through maybe a
Speaker 1: sketchy part of town or you know, like a dodgy area. Personally,
Speaker 1: I would do that. I think that's totally frugal. And
Speaker 1: there might be sometimes when you might want to splurge
Speaker 1: and maybe pay for parking, But with a bike, you
Speaker 1: get to pull up and you get free bike valley parking.
Speaker 1: So that's the best. Man, you're right across from the stadium,
Speaker 1: That is the best. And I try to do that
Speaker 1: as often as possible. That is a blast and here's
Speaker 1: the Here's the other thing though, when you park further
Speaker 1: way that I actually like. So when you park really
Speaker 1: close and you're trying to leave the stadium, you're in
Speaker 1: this nasty traffic jam because everyone close ends trying to
Speaker 1: go in the same direction at the same time and
Speaker 1: get out of these parking lots. There's one way out,
Speaker 1: and so those parking lots are jam packed and it's
Speaker 1: tough to get out and takes forever. So parking further away,
Speaker 1: I'm walking faster than the traffics going, so I actually
Speaker 1: break free. Yeah, so I actually think like, not only
Speaker 1: am I saving money getting a nice little fun walk
Speaker 1: in with my daughter, but then at the same time,
Speaker 1: I'm out of there much quicker because I'm not like
Speaker 1: sitting in that parking lot traffic. Plus they're small enough
Speaker 1: now where we can throw them up on our shoulders
Speaker 1: and we can kind of pick up the pace a
Speaker 1: little bit if we need to. So yeah, no doubt.
Speaker 1: All right, Joel, let's talk about the beer that we're
Speaker 1: gonna have on this episode. We have a bunch of
Speaker 1: beers from Spindle Tap Brewery. The brewery reached out to
Speaker 1: us directly, and yeah, it's been a minute since we've
Speaker 1: had an actual brewery sent us some beer, So I'm
Speaker 1: excited to have a few of theirs on the show. Yeah.
Speaker 1: This man, Leo, who works for Spindle Tap. He listens
Speaker 1: to the show and just super cool. He reached out
Speaker 1: via Twitter and said, man, I love the show. I
Speaker 1: worked for spindele Tap and offered to send us not
Speaker 1: only beer, maybe sent us some really cool T shirts too,
Speaker 1: So yeah, some mad props. Yeah me too, I'm loving mind. Yeah,
Speaker 1: so that's super kind. And and Spindle Tap, I gotta
Speaker 1: say I went to their website after Leo reached out,
Speaker 1: and I just scrolled through their list of beers and
Speaker 1: they make just I p A after I p A
Speaker 1: after I p A, and they all like my mouth
Speaker 1: was watering. They just all sound delicious. So I'm really
Speaker 1: excited to try this one tonight. Yeah, so this is
Speaker 1: aggressive additions. I p A, Joel, You're going for it already,
Speaker 1: initial thoughts quickly, I'll say, this one's right up my alley,
Speaker 1: and Spindle Tap just through like two SIPs, worked its
Speaker 1: way directly into my heart. So I'm looking forward to,
Speaker 1: you know, sharing more of our thoughts about this beer
Speaker 1: at the end. Of the episode. Oh my, this one
Speaker 1: is good man. I'm looking forward to not only talking
Speaker 1: about it, but drinking it on this episode. All right, Matt,
Speaker 1: onto the topic at hand. We're talking about frontloading the sacrifice.
Speaker 1: And like I said, we brought money pro doct g
Speaker 1: on to kind of give us five minutes of distilled wisdom.
Speaker 1: This is a topic that is near and dear to
Speaker 1: his heart, and it is so important to him because
Speaker 1: he realizes that most people don't understand that just a
Speaker 1: little more effort upfront can mean a much smoother ride
Speaker 1: in the future. We're gonna talk about saving and investing,
Speaker 1: but just other ways of frontloading your sacrifice can have compounding,
Speaker 1: massive effects for you on the back end. It's such
Speaker 1: an important topic to essentially help people understand that today
Speaker 1: is the day you need to get started, not next week,
Speaker 1: not next month, but like today, because once you start
Speaker 1: moving in a direction, the dominoes just kind of begin
Speaker 1: to fall for you and and it all gets a
Speaker 1: little bit easier over time. So and I think doct
Speaker 1: does a really good job in this five minute segment
Speaker 1: of presenting that well edual. And something worth mentioning as
Speaker 1: well is that doc G's advice. It comes from the
Speaker 1: standpoint of someone who is financially independent. He himself is
Speaker 1: financially independent. He's partially retired, which I love, and we
Speaker 1: can talk more about that later. How he's sort of
Speaker 1: testing out the waters of retirement. But financial independence, we've
Speaker 1: talked about this before, but quickly, it's essentially when you
Speaker 1: have enough assets or money invest in that you no
Speaker 1: longer have to work to earn money because your money
Speaker 1: itself is earning that money. And also, there's just different
Speaker 1: degrees of financial independence as far as folks that are
Speaker 1: willing to give up different amounts of things, different sacrifice
Speaker 1: that they're willing to make in order to achieve that
Speaker 1: sooner versus later. But for all of them, like that's
Speaker 1: their goal. Their goal is to basically break free of
Speaker 1: the chains of having to to work in order to
Speaker 1: pay their their monthly bills. And so it's worth mentioning
Speaker 1: that because I think to a lot of folks his
Speaker 1: approach might sound a bit extreme, but at the same time,
Speaker 1: the advice that he is giving is widely applicable regardless
Speaker 1: of how soon you actually want to retire. All right, Matt,
Speaker 1: So without further ado, let's get into doc gees Money
Speaker 1: Pro segment. Just a quick reminder. Every time we bring
Speaker 1: a money pro on the show, they send us five
Speaker 1: minutes of distilled wisdom about this particular topic. So so
Speaker 1: here are doctees finest thoughts on the topic of the day,
Speaker 1: Frontloading the Sacrifice. Hey guys, thanks for inviting me on
Speaker 1: to speak about one of my favorite topics, frontloading the sacrifice.
Speaker 1: Getting to financial independence requires hard work, planning, and missed opportunities.
Speaker 1: This is part of the process. While some have found
Speaker 1: a way to climb the mountain while also enjoying the
Speaker 1: beauty of the local terrain, the great majority of us
Speaker 1: have an end in mind. We tend to track that
Speaker 1: end with laser like focus. Whether it be early retirement
Speaker 1: or a particular net worth. We're willing to put in
Speaker 1: the extra hours, lose sleep, or work weekends to make
Speaker 1: it happen down the road. We all, in one way
Speaker 1: or another, past the marshmallow test. Thus, especially if you're
Speaker 1: a young person, I have one key piece of it
Speaker 1: ice front load the sacrifice. The concept. It's straightforward. The
Speaker 1: harder you work as a young person, the less you
Speaker 1: will have to as you get older. Want to retire
Speaker 1: at forty, how about thirty five. There's no way to
Speaker 1: achieve such mighty aspirations unless you pay your dues, so
Speaker 1: do yourself a favor. Pay those dues early. The worst
Speaker 1: mistake you can make is a failure to launch. Think
Speaker 1: about it. What requires the most energy during a typical
Speaker 1: trans atlantic flight. You'd be correct if you guess take off.
Speaker 1: Once the plane is up in the air and on
Speaker 1: its trajectory, fuel needs decreased drastically. If you can just
Speaker 1: make it past the original hump, you can expect smooth
Speaker 1: flying for the duration. Your financial timeline is no different.
Speaker 1: The fuel you create and burn early in your journey
Speaker 1: will often propel you even faster the rest of the way.
Speaker 1: This is particularly important in your early twenties. Leaving college,
Speaker 1: you may face a mountain of debt. Whether you demolish
Speaker 1: that mountain or build it up even higher will have
Speaker 1: profound consequences on your financial well being, although they may
Speaker 1: seem self evident. Let's look at a few reasons. Front
Speaker 1: loading the sacrifice is so important. You all know about
Speaker 1: the magic of compounding, if not, for God's sake, google it.
Speaker 1: The idea is simple. Start with a little money in
Speaker 1: vast watch the trick over turns turn into an avalanche,
Speaker 1: and then retire. It goes without saying that earlier you
Speaker 1: start compounding, the faster your net worth will grow. As
Speaker 1: a resident physician, I moonlighted at my local hospital. The
Speaker 1: extra profits originally went into a down payment on a
Speaker 1: house and then later into investments. Can you imagine what
Speaker 1: that ten thousand dollars I made in residency is worth?
Speaker 1: If not, find yourself a compound calculator. It's not just
Speaker 1: the compounding gains, but also the compounding losses. That's right.
Speaker 1: Credit costs money, So if you have a huge educational
Speaker 1: or car loans, you're sapping your jet fuel. Every month
Speaker 1: you're paying interest. That interest will erode your wealth and
Speaker 1: happy your path to financial freedom. My wife, for example,
Speaker 1: had fifteen thousand dollars of educational debt when she finished college.
Speaker 1: We both put in extra hours at work in those
Speaker 1: early years to pay it off fairly quickly. By becoming
Speaker 1: a free of debt, we are able to maximize retirement
Speaker 1: savings and start a taxable brokerage account before becoming parents.
Speaker 1: It's also easy to forget that experience compounds. These skills
Speaker 1: you learn and the education you receive when you are young,
Speaker 1: can serve as you mature in your professional career. You
Speaker 1: know what other advantage that most have upon leaving college
Speaker 1: no children. You don't have children, or possibly a mortgage
Speaker 1: or other responsibilities that weigh you down. You are free
Speaker 1: to aggressively pursue a career, business opportunity, or side hustle.
Speaker 1: As you get older, have children, and settle into suburbia,
Speaker 1: your time becomes parse between unyielding mistresses screaming for your attention.
Speaker 1: The young also have an abundance of something else that
Speaker 1: we old timers are sadly lacking energy. As a young physician,
Speaker 1: I could work thirty six hours in a row without
Speaker 1: getting a wink of sleep. Now it takes me weeks
Speaker 1: to recover from such activities. In summary, the money you
Speaker 1: make as a young person will be the jet fuel
Speaker 1: for your transatlantic flight. It will propel you through the
Speaker 1: stratosphere and prepare the way for coasting at a comfortable altitude.
Speaker 1: The young have large reserves of energy, a few responsibilities,
Speaker 1: and the ever important time horizon to take advantage of
Speaker 1: the magic of compounding front load to sacrifice. You won't
Speaker 1: regret it. And one last note, don't fall victim to
Speaker 1: the you only live one syndrome. Yolo is a no no.
Speaker 1: Yolo is a no no, because you don't only live once.
Speaker 1: I would argue that in the typical eighties some years
Speaker 1: of existence, people experience many new beginnings. There are new
Speaker 1: days and new decades, new careers and new relationships. Change
Speaker 1: is so constant that we are continuously beginning or ending
Speaker 1: a new stage of life. When you make economic decisions
Speaker 1: based on the idea that once the moment is past,
Speaker 1: it will never come back again, you spend based on
Speaker 1: fear and short lived hedonism in actuality, especially when you're young,
Speaker 1: every new stage in life will feel like a fresh start.
Speaker 1: Although wisdom accruise, new beginnings abound. You know what happens
Speaker 1: when people spend like you only live once when they
Speaker 1: are young, they end up facing the multitude of new
Speaker 1: life stages, poor and unprepared to fully enjoy what life
Speaker 1: has to offer down the road. Think of all the
Speaker 1: joy as a new parent or a newly retired person
Speaker 1: can experience when they have enough economic fuel to propel
Speaker 1: them in their journey. Don't erase the wondrous effect of compounding.
Speaker 1: There you have it frontload to sacrifice and you don't
Speaker 1: only live once words to live by. It almost sounds
Speaker 1: like reincarnation a little bit mad, right? Is that? Is
Speaker 1: that what doctors going for? Yeah, that was awesome stuff
Speaker 1: from Doc g and I'm looking forward to unpacking that
Speaker 1: with you man right after this break. Alright, Matt, we're
Speaker 1: back and Yeah, that was some really good stuff from
Speaker 1: from Doc. And really a lot of what Doc is
Speaker 1: saying is that if you want to achieve what's called
Speaker 1: financial independence that you kind of defined a little bit
Speaker 1: earlier and we talked about in a much earlier episode.
Speaker 1: Is financial independence a good goal to have? Well, it's
Speaker 1: going to require a lot of hard work planning and
Speaker 1: missing out on some opportunities that you're probably interested in. Yeah,
Speaker 1: you know, honestly, for me, missing out on those opportunities,
Speaker 1: whether they be experiences like events or even sometimes like stuff,
Speaker 1: that to me is the hardest because I can work hard,
Speaker 1: and I think a lot of folks feel that they're
Speaker 1: not afraid of hard work. You can even plan some
Speaker 1: but behaving and not overspending after you've done that hard work.
Speaker 1: For me, that, honestly, I find that to be the
Speaker 1: toughest challenge when it comes to my personal finances. You
Speaker 1: work hard and and you feel that you've earned the
Speaker 1: stuff that you're going to purchase. I guess a little reward.
Speaker 1: We've talked about that recently. You hear the motto work hard,
Speaker 1: play hard, But like that's the problem. A lot of
Speaker 1: times that's when your finances can totally get out of
Speaker 1: whack and you're not really getting ahead even though you're
Speaker 1: working really hard and you're earning an incredible wage because
Speaker 1: you're spending all of your money. Yeah, you have that
Speaker 1: kind of treat yourself mentality. Well, you utterly deserve the
Speaker 1: things that you're buying. You deserve a bigger house, you
Speaker 1: deserve a new car because you worked really hard, exactly,
Speaker 1: and and and so I completely understand that mentality. But
Speaker 1: that's the mentality we have to get away from. And
Speaker 1: so you and I'm at though on this show, we
Speaker 1: have talked about many, many times throughout all the episodes
Speaker 1: we've created that we are into living a rich life
Speaker 1: now on less money. And so I do need to
Speaker 1: stress that utter deprivation is not what we're all about.
Speaker 1: But ultimately there is a strong need to hone in
Speaker 1: and focus on the things that actually matter. If financial
Speaker 1: independence is something that you want to achieve. And so ultimately,
Speaker 1: people that are able to achieve a certain amount of
Speaker 1: financial independence in their lives or that ultimate goal of
Speaker 1: real financial independence, they're able to stay focused along the way.
Speaker 1: So the goal might truly be retiring early. And documenttioned
Speaker 1: some lofty numbers of retiring like thirty five or forty
Speaker 1: And I gotta be honest, for almost everybody listening, I
Speaker 1: know that's a really really hard number to hear. Even that's, uh,
Speaker 1: that seems impossible. But for but for some people listening
Speaker 1: who are We got an email Matt the other day
Speaker 1: from a fourteen year old and for him, that's totally
Speaker 1: that's that is totally possible. For most people, that's gonna
Speaker 1: be really really hard to do, and especially because we
Speaker 1: have a lot of listeners who are in their thirties
Speaker 1: and forties and fifties, and so for those people, that
Speaker 1: opportunity has passed. But at the same time, there's the
Speaker 1: ability to right now, whatever age you are, wherever you're
Speaker 1: at in life, to start front loading the sacrifice now.
Speaker 1: So it's not about going back and doing it over
Speaker 1: because obviously that's impossible. What it is about is creating
Speaker 1: a focus to change the trajectory of your future. Now, yeah, man,
Speaker 1: keeping that that laser like focus like you mentioned is
Speaker 1: so key. And can you mentioned the marshmallow tests? Have
Speaker 1: you heard that? I have? Yeah, I read up on
Speaker 1: the marshmallow test just based on what he said, So
Speaker 1: I thought it was I thought it was fascinating. Do
Speaker 1: you want to explain it? Yeah, it's it's kind of
Speaker 1: a classic if you haven't heard about it. It's the
Speaker 1: Stanford experiment on delayed gratification basically, and Stanford did the
Speaker 1: best like psychological experiments on people prison was it the
Speaker 1: Stanford prison experiment? They do all these sort of messed
Speaker 1: up studies and that like that's borderline unethical and maybe
Speaker 1: completely exactly because this one maybe borderline unethical. But they
Speaker 1: had kids sitting in a room, uh, and they're told
Speaker 1: that here's a marshmallow. We're gonna leave. If you don't
Speaker 1: eat the marshmallow. When I come back, you get two marshmallows.
Speaker 1: And so yeah, it was a test of delayed gratification.
Speaker 1: And what they found where that the children who were
Speaker 1: able to say no and through discipline, were able to
Speaker 1: control themselves ultimately in the long term, we're able to
Speaker 1: achieve more in life, and so Dag is essentially saying
Speaker 1: that in the same way, like this is the experiment
Speaker 1: that we're exposed to every day when it comes to
Speaker 1: our purchases and expenses. If we can say no to
Speaker 1: the things right now of consumption, at some point down
Speaker 1: the road, when you're financially independent, hopefully you're gonna have
Speaker 1: a lot more choices and you're gonna have a lot
Speaker 1: more options presented to you. Yeah, and Matt, we did
Speaker 1: an episode back in the day about peace out Money,
Speaker 1: and that is kind of like one of those stepping
Speaker 1: stones on the way to financial independence, And so we
Speaker 1: said that even though financial independence is this incredibly lofty
Speaker 1: goal and it takes quite a while to achieve, right,
Speaker 1: you're not going to be there probably in three years.
Speaker 1: It's gonna take decades to to hit that goal of
Speaker 1: financial independence. But even along the way, you're gonna hit
Speaker 1: these stepping stones and something like peace out money, which
Speaker 1: gives you kind of enough of a cushion in order
Speaker 1: to say, you know what, I want to move on
Speaker 1: to another job, or I even want to take a
Speaker 1: job that pays less money because it's something I'm more
Speaker 1: interested in doing, and I think I'm gonna be able
Speaker 1: to stick to it for a longer period. So I
Speaker 1: just want to stress too that it's not necessarily all
Speaker 1: about achieving this ultimate end goal that that might be
Speaker 1: decades down the road, but there are these steps in
Speaker 1: between that you're gonna hit that are going to provide
Speaker 1: you no matter where you're at. Maybe it's just building
Speaker 1: up that emergency fund and having laser like focused and
Speaker 1: you've got a frontload of the sacrifice right now in
Speaker 1: order to get there, or you're ready to get to
Speaker 1: that piece out money place so that you can look
Speaker 1: for another job. Either way, it's gonna take passing that
Speaker 1: marshmallow test and and not eating the marshmallows put in
Speaker 1: front of you, and putting that marshmallow in like a
Speaker 1: low cost index fund through van or something like that. Right,
Speaker 1: So that's that marshmallow sun exactly, so it can multiply
Speaker 1: into more and more marshmallows. But yeah, I feel like
Speaker 1: that is a good way for us to see it
Speaker 1: is is that it is easy to just kind of
Speaker 1: eat the marshmallow. It's easy to satisfy our sweet tooth,
Speaker 1: and it's easy to buy something based on a perceived
Speaker 1: need and it just takes more work to maintain that
Speaker 1: focus that's required in order to kind of achieve that
Speaker 1: ultimate goal. Joel. And something else is I wanted to
Speaker 1: mission how delay gratification isn't something that you're just born with,
Speaker 1: like some people might have that sort of natural disposition,
Speaker 1: it's kind of ingrained in them. That's also something that
Speaker 1: you can cultivate. It's like a muscle that you can flex.
Speaker 1: Is build it up through decisions and through discipline and
Speaker 1: just practicing it. And the studies proved that as well.
Speaker 1: There's been lots of other marshmallow experiments since the original
Speaker 1: Stanford one and where they did different experiments leading up
Speaker 1: to the final test of you know, what will you
Speaker 1: do with marshmallow? And it involved lots of different things,
Speaker 1: but like rewarding the kids when they did perform what
Speaker 1: they're supposed to do versus some of the kids who
Speaker 1: weren't rewarded, you know when they said they were so
Speaker 1: basically like the promise, Like was that promise fulfilled? It's
Speaker 1: just crazy interesting to see how that impacts how we
Speaker 1: view things. Yeah, if we get a quick positive response,
Speaker 1: Matt to the change that we make, I feel like
Speaker 1: that actually enhances our ability to kind of continue on.
Speaker 1: That's right, yeah, exactly, And so for a lot of
Speaker 1: people that long term thought of investing. Most of us
Speaker 1: just can't think in that twenty or thirty or forty
Speaker 1: years sort of time period and it just doesn't seem
Speaker 1: like we're ever going to get so why would we
Speaker 1: prioritize it? Right, It's like, well, why am I? We're
Speaker 1: taxing my six sixty year old self over my thirty
Speaker 1: year old self, and that positive feedback just isn't gonna
Speaker 1: happen immediately. It takes a while to feel like you've
Speaker 1: built up some breathing room and to feel like you're
Speaker 1: actually on your way to meeting your goal. So it's
Speaker 1: not like you open up a roth Ira or start
Speaker 1: investing in your four oh one K and then three
Speaker 1: weeks later you get that positive who I'm doing it?
Speaker 1: It takes quite a while, and so, well, that's why
Speaker 1: it's so hard, right, Like, that's why investing is so hard,
Speaker 1: and why I think a lot of times people get
Speaker 1: burned because they invest and they hear that they're supposed
Speaker 1: to invest for the long term, but then the market
Speaker 1: dips a little bit. What is the instant feedback that
Speaker 1: they're receiving. It's that I'm losing money and because of that,
Speaker 1: they don't want to invest and they freak out pull
Speaker 1: their money out, or they stop investing altogether. Yeah, I
Speaker 1: think that is why it's so hard and why it's
Speaker 1: so important to keep that long term goal in mind
Speaker 1: on the horizon and have that be the focus regardless
Speaker 1: of what's happening right now. And I think that's why
Speaker 1: Doc g made reference to an airplane, right, and that
Speaker 1: that failure to launch it is the hardest part, is
Speaker 1: the most energy consuming part of an airline flight is
Speaker 1: just that takeoff and and imagine, right, you have to
Speaker 1: lift this giant metal tube into the sky with hundreds
Speaker 1: of people on it, and in order to kind of
Speaker 1: get that lift, Like, do you know how much Jeff
Speaker 1: fuel you're burning? I mean a lot, I guess, right,
Speaker 1: And yeah, I don't know the specifics. Yeah, I'm not
Speaker 1: an engineer, Like I don't know any of that stuff,
Speaker 1: but I gotta imagine that the amount of fuel just
Speaker 1: to kind of get off the starting line there and
Speaker 1: to get this massive aircraft into the air is so
Speaker 1: much more than an aircraft. That's kind of already in motion, right,
Speaker 1: already in flight, flying through the air at thirty feet.
Speaker 1: So just know too that that is the hardest part.
Speaker 1: And so if you have been wary of starting because
Speaker 1: it is a big lift, we've tried in previous episodes
Speaker 1: to help people see how easy it can be. But
Speaker 1: we realized that even though it's an easy button to click,
Speaker 1: it's a harder thing to move in your mind, to
Speaker 1: move that boulder of saying you know what, I can
Speaker 1: do this, and I need to do this, and this
Speaker 1: is actually gonna be beneficial for me. I think having
Speaker 1: that illustration of of an airline in your head, it's
Speaker 1: like boom, I need to get my wheels down, I
Speaker 1: need to get moved away from the gate, and I
Speaker 1: need to start going. Let's go ahead and dive now
Speaker 1: into the reasons that front loading the sacrifice is so important.
Speaker 1: Dot G touched on several of these. He kind of
Speaker 1: said that there's maybe self evident, but we like to
Speaker 1: pick things apart, so let's dive into it. So the
Speaker 1: first thing he mentioned was compounding interest. We touched on
Speaker 1: this before, but we all know that the earlier you
Speaker 1: get investing, the better, like the money you have invested
Speaker 1: earns money, and then that additional money that you didn't
Speaker 1: deposit and that you didn't save that earns money, and
Speaker 1: then it continues to roll over on itself. That's compounding interest. Yeah,
Speaker 1: it's pretty magical, right. Yeah, And so an example we've
Speaker 1: given before is imagine that you're saving dollars a year.
Speaker 1: Depending on your situation, like that might be a lot
Speaker 1: of money, but let's just say you're doing it. You're
Speaker 1: doing that every year from the age of twenty five
Speaker 1: to forty five. So that total of twenty years, you've
Speaker 1: invested a total of forty eight thousand dollars. But then
Speaker 1: imagine that you stop like completely, and then you let
Speaker 1: it grow for the next twenty years, from forty five
Speaker 1: to sixty five. At the age of sixty five, there's
Speaker 1: a good chance you're gonna have over one million dollars.
Speaker 1: Let me say that again. You've only invested forty eight
Speaker 1: thousand dollars and over time you've been able to convert
Speaker 1: that to over one million dollars. That is the power
Speaker 1: of compounding interest. Yeah, Matt, Compounding interest is a beautiful thing,
Speaker 1: But compounding losses are kind of the exact opposite, right,
Speaker 1: And so payments on loans that you have and interest
Speaker 1: on credit card debt also cost you in a major way.
Speaker 1: We just talked about student loans, and federal student loans
Speaker 1: don't work on a compounding interest level, but private student
Speaker 1: loans typically do. And so the longer you have debt
Speaker 1: out there, the more it's gonna grow and hurt you.
Speaker 1: So that's why do you mentioned prioritizing debt payoff, And
Speaker 1: I think debt payoff is a crucial part of the equation.
Speaker 1: In order to reach financial independence, you need to not
Speaker 1: only do your best to frontload your investments as much
Speaker 1: as possible, but you also need to do your best
Speaker 1: at frontloading your cash towards debt payoff and especially paying
Speaker 1: off those super high interest rate debts as quickly as possible.
Speaker 1: That's right. And we've talked about real estate plenty of times,
Speaker 1: and real estates a great investment in a lot of times.
Speaker 1: You and I we both have mortgages on multiple investment properties.
Speaker 1: That's an example of good debt as we would define it.
Speaker 1: But it's like debt because of an investment now that's
Speaker 1: making money exactly, not debt because of lifestyle and lifestyle
Speaker 1: and consumption and those are the times that you need
Speaker 1: to be especially wary. Uh, anytime you're financing lifestyle specifically,
Speaker 1: we realize some of those things, like student loans not
Speaker 1: really in that lifestyle equation, but it is. Its student
Speaker 1: loans are kind of like in the gray area. Yeah,
Speaker 1: it's it's it's just one of a weird thing. And
Speaker 1: we had a couple episodes on that recently. If you
Speaker 1: need help with your student loans, go back and check
Speaker 1: those out. But to break you down, I feel like
Speaker 1: the more that you can put into investments early on
Speaker 1: and into paying off those higher interest rate debts, I mean,
Speaker 1: the earlier the better. The sooner the better. Kicking debts
Speaker 1: to the curb earlier and not having them linger in
Speaker 1: your life, I mean that's just gonna have massive impacts
Speaker 1: for you further on down the road. Yeah, and something
Speaker 1: else Doc G mentioned is how not only does your
Speaker 1: interest compound and your losses compound, but your experience compounds
Speaker 1: as well. And he said that when you can take
Speaker 1: the education and the skills with you you mature professionally
Speaker 1: in your career, these are skills that are gonna serve
Speaker 1: you and your personal finances for the rest of your life.
Speaker 1: One of the things I realized, man, is that it's
Speaker 1: not just the head knowledge that you can but also
Speaker 1: that experience, the habits that you form now will make
Speaker 1: it easier in the future. I know, for me, I'm
Speaker 1: kind of a creature of habit, and I know that
Speaker 1: if I didn't have the best money handling habits starting
Speaker 1: at a young age, I think it would be really
Speaker 1: really hard for me to flip the switch and all
Speaker 1: of a sudden say cool, now I'm gonna start investing
Speaker 1: ten percent of every check I make and I'm gonna
Speaker 1: slash all my spending in half because I'm gonna become
Speaker 1: financially independent. That's just not how I work. For me.
Speaker 1: Once I do something for a long time, it's it's
Speaker 1: really hard for me to break out of that. And
Speaker 1: so I think that applies here as well. Like when
Speaker 1: you have that experience, when you have those habits formed
Speaker 1: from an early age, those are literal skills you can
Speaker 1: take with you and you can continue on that path.
Speaker 1: And the fact is it's going to be easier for
Speaker 1: you as you get older, as you make advances in
Speaker 1: your career, as you start earning more money that you're
Speaker 1: doing smart and awesome things with your money. Yeah, man,
Speaker 1: I think when we're talking about experience or skills, the
Speaker 1: earlier in our lives that we start to implement those
Speaker 1: things the better. And so let's say you're a school teacher,
Speaker 1: taking a certification to teach gifted courses or maybe getting
Speaker 1: your master's degree a little it earlier. It's going to
Speaker 1: lead to a much higher rate to pay earlier on,
Speaker 1: and you're gonna be getting paid more throughout the years.
Speaker 1: And not only are you gonna be getting paid more
Speaker 1: for a lot of teachers, you're going to ultimately that's
Speaker 1: going to results in a higher pension in retirement. Right.
Speaker 1: And so by getting that skill earlier on in your career,
Speaker 1: it's just gonna have these like ripple effects that last
Speaker 1: for quite a while. And if we're talking about just
Speaker 1: gaining a skill, let's take the skill of reading. For example.
Speaker 1: I think I read a stat at one point, Matt,
Speaker 1: most Americans don't read one whole book for their entirety
Speaker 1: of their life once they graduate from high school. That
Speaker 1: it's it's just kind of crazy, that yeah, crazy. I
Speaker 1: want to say, it's like eighty or of Americans don't
Speaker 1: ever read a whole book. In its entirety, it's kind
Speaker 1: of crazy. So if you can develop just a skill
Speaker 1: of reading five six eight books a year something like that,
Speaker 1: you know, start light. But find a skill in your
Speaker 1: life that's gonna help you build a knowledge base, maybe
Speaker 1: a skill that's going to help you in your career
Speaker 1: in the earlier that you can do that those skills
Speaker 1: that you can build on kind of earlier in your
Speaker 1: life to help turn you in to a lifelong learner,
Speaker 1: and potential skills that will help you in your day
Speaker 1: job now make you more well rounded, make you more
Speaker 1: likely to get a promotion. That sort of experience, that
Speaker 1: skill set compounds on itself. Hopefully it leads to you
Speaker 1: being kind of more well rounded as a person, but
Speaker 1: also it can lead to higher earnings, and just earning
Speaker 1: a little bit more can make all the difference sometimes
Speaker 1: and trying to reach your goal like five and so
Speaker 1: all these things that doctors mentioning are things that you
Speaker 1: can do at any age, whether you're fresh out of
Speaker 1: school or if you're older in your forties and fifties.
Speaker 1: You want to invest now, you want to cut that
Speaker 1: unnecessary spending. But again, like you said, Jell, the sooner
Speaker 1: you get started the better. Yeah, Matt, there was a
Speaker 1: Chinese proverb that I read that says that the best
Speaker 1: time to plan a tree was twenty years ago, and
Speaker 1: the second best time to plan a tree is today,
Speaker 1: and so you can't go back. It's a proverb or
Speaker 1: a fortune cookie. I don't know, mind doing both, but
Speaker 1: I mean, I just think that's so profound, right, And
Speaker 1: when you're thinking it's so easy that like, let's say
Speaker 1: you're listening to this podcast and you are in your
Speaker 1: forties or fifties and you're thinking, I totally screwed up
Speaker 1: and I can't do it at I think you have
Speaker 1: to kind of take that to heart. You have to
Speaker 1: realize that you can't go back in time. You can't
Speaker 1: fix mistakes who are made in the past. But what
Speaker 1: you can do is you can plant that seed today
Speaker 1: and you can get the ball rolling, you can get
Speaker 1: your plane in the air, and you can start frontloading.
Speaker 1: The sacrifice. Whatever that means for you today is what
Speaker 1: you need to do. Yeah, Jule, I completely agree with that.
Speaker 1: And then so after the break, we're gonna talk about
Speaker 1: some tips, specifically if you're younger. We're also going to
Speaker 1: talk about our thoughts on yellow all right, Matt, this
Speaker 1: part of the show is for the youngsters out there,
Speaker 1: like that fourteen year old we mentioned that rode into us. Uh,
Speaker 1: And if you don't have any kids, it's time to
Speaker 1: aggressively get after it. You have fewer responsibilities in general
Speaker 1: pre kids, and you know what, maybe you don't want
Speaker 1: kids at all, that's totally cool. But if you do
Speaker 1: want kids and you don't have any yet, if you're
Speaker 1: single or a young married couple, whatever it is, you
Speaker 1: don't think you have as much time as you do.
Speaker 1: But in reality, pre kid life is going to be
Speaker 1: the most time, the most spare time that you have
Speaker 1: to be able to invest in learning that skill right
Speaker 1: that we just mentioned, or gaining some experience moving up
Speaker 1: the ladder in your job, and even just upping the
Speaker 1: percentage of your paycheck that comes out into your or
Speaker 1: four oh one k or yeah. Man, when when you're young,
Speaker 1: like now is the time because you have time. And
Speaker 1: that's not to say that what you're working on right
Speaker 1: now when you're younger isn't important, but the fact is
Speaker 1: is life just gets busier if you add kids to
Speaker 1: the equation, or if you add additional responsibilities, there's just
Speaker 1: less time to put towards financial independence or whatever your
Speaker 1: goals might be. And Joel, I know when I was
Speaker 1: in my twenties, I thought that this is probably as
Speaker 1: busy as my life is going to get. But the
Speaker 1: fact is, like when you add kids to the mix,
Speaker 1: when you add additional responsibilities, life does just get busier.
Speaker 1: And even if you're not going to have kids, you
Speaker 1: have parents that are getting older, you have different family obligations.
Speaker 1: There's things in your community, schools and organizations that you
Speaker 1: believe in that your volunteering, and that's okay, and like
Speaker 1: that's great honestly, because you're aligning yourself with things that
Speaker 1: you believe in and doing things in a way that
Speaker 1: you feel will help you to live a better life.
Speaker 1: All I'm saying, though, is that you're gonna have less
Speaker 1: time to do that hard work, and it's much easier
Speaker 1: to do that hard work when you're younger. Essentially, you're
Speaker 1: kind of laying this foundation, right, and if you put
Speaker 1: together a really solid foundation for a house, it just
Speaker 1: becomes so much easier to build the house. And if
Speaker 1: you put together kind of a crummy, haphazard, uh not
Speaker 1: well planned out foundation, the house is going to be misshapen.
Speaker 1: It's gonna be much harder to build the house. The
Speaker 1: angles are gonna be off, it's just gonna be difficult
Speaker 1: to produce. So at the same time, for for young
Speaker 1: people building this foundation for the rest of their lives,
Speaker 1: it's really important to kind of get started in building
Speaker 1: those skills, the experiences, and starting to actually put money
Speaker 1: aside for the future. Now that is front loading the sacrifice.
Speaker 1: The other thing, Matt, is that you have more energy
Speaker 1: at a young age, and so you know, we're in
Speaker 1: our mid thirties, our energy is a little more SAPs
Speaker 1: kind of by the other things that we have going on.
Speaker 1: I just look back to my early twenties and the
Speaker 1: the amount of energy that I had to tackle the
Speaker 1: things before me, I was totally willing to work weekends, nights,
Speaker 1: whatever it was. Now I just don't have that willingness
Speaker 1: and I don't have the energy to to make that happen.
Speaker 1: And so if you are younger, just realize that your
Speaker 1: energy level isn't going to stay the same for forever.
Speaker 1: I'm not saying that like we're old dudes and we're
Speaker 1: tapped out that, but but there is an element to
Speaker 1: which we just don't have as much energy to produce
Speaker 1: as much as we did earlier on. And that's another
Speaker 1: checkbox in in favor of kind of frontloading some of
Speaker 1: that sacrifice in order to kind of reap some of
Speaker 1: those benefits down the road. Edull, you know what you mentioned.
Speaker 1: You mentioned willingness to do that work, and honestly, I
Speaker 1: feel like for me it's more of the willingness versus
Speaker 1: the actual physical energy. Like, honestly, right now, I feel
Speaker 1: like I'm in better shape than I was in my twenties.
Speaker 1: Like I I really do think I might have more energy,
Speaker 1: like my body hurts a little more, like I have
Speaker 1: to stretch more because of getting older. But for me,
Speaker 1: it's a mental energy. I don't have the same bandwidth
Speaker 1: that I had when I was in my twenties. Again,
Speaker 1: because of these additional responsibilities. There's things that I'm required
Speaker 1: to think about, like my family and my kids, and
Speaker 1: that I love to think about. It's not like it's
Speaker 1: just a requirement, but there are things that take energy,
Speaker 1: and for me, I guess yeah, maybe it's just more
Speaker 1: that mental energy. So that's all great advice for when
Speaker 1: you're younger to aggressively get after before you have kids.
Speaker 1: To not underestimate the fact that your energy is going
Speaker 1: to lessen over time and that you're just not going
Speaker 1: to have as much time to dedicate to building that
Speaker 1: foundation as you grow older. But what does this mean
Speaker 1: if you already have kids or meaningful responsibilities in your life?
Speaker 1: And I love what doc G said. He said, yolo
Speaker 1: is a no no, and that's because you want to
Speaker 1: be able to face new stages of life prepared and
Speaker 1: able to enjoy them. Well, j yeah, I think that's
Speaker 1: the Like, that's the key question here is like what
Speaker 1: does this mean for you if you do already have kids?
Speaker 1: Another stuff going on personally, Like I have a family
Speaker 1: with young kids, and I'm already at that stage of life.
Speaker 1: And while I have made some smart financial decisions in
Speaker 1: my life, I'm not financially independent. My plan is to
Speaker 1: continue to be smart with my money now, but my
Speaker 1: goal isn't to go at it with everything I've got,
Speaker 1: Like I'm not trying to achieve financial independence. Uh, not
Speaker 1: trying to achieve retirement at a super young age. And
Speaker 1: I think, especially when you have kids, like you have
Speaker 1: to take that balanced approach. I know doc G, he
Speaker 1: has kids, and I think he would say the same
Speaker 1: thing like once you have kids on the scene, once
Speaker 1: you have these additional responsibilities, you still can work towards
Speaker 1: your goals. You can still work towards financial independence or
Speaker 1: to travel more or whatever it is that you're going after.
Speaker 1: It's just a lot harder and it's gonna take a
Speaker 1: little bit longer, but it's still totally doable. Like even
Speaker 1: you and I doing this podcast, like, this is something
Speaker 1: we enjoy. We're both we have lots of responsibilities, but
Speaker 1: this is something that we love to do, and it's
Speaker 1: totally worth it for us to put forth the effort
Speaker 1: and try to create something that we love. Yeah, Matt,
Speaker 1: And what I think d G was getting at Matt
Speaker 1: with the with the yolo comment, I think I may
Speaker 1: think obviously, if you look at looking up the hashtag
Speaker 1: on Instagram, you probably see a lot of people doing
Speaker 1: some crazy stuff with their money, blowing it in all
Speaker 1: sorts of different ways, completely sacrificing the future for the present.
Speaker 1: And that can be a mistake, especially that one makes
Speaker 1: in their youth. And so I think if you're listening
Speaker 1: to this podcast and you're young, first off, kudos to you,
Speaker 1: because that's rare. You're in you're you're in rare territory,
Speaker 1: just listening to a podcast giving financial advice and realizing
Speaker 1: the fact that a little bit of pushing that marshmallow
Speaker 1: down the road, not buying into the yellow mentality and
Speaker 1: stacking up possessions and expensive experiences today because you only
Speaker 1: live once. Realizing that, like Doc g said, every new
Speaker 1: stage of life is going to bring new and interesting
Speaker 1: things and exciting things along the way with it. I
Speaker 1: think that just makes the idea of delayed gratification that
Speaker 1: much easier. Yeah, the yellow hashtag, I feel like it
Speaker 1: definitely involves a lot more bullying, a lot more shiny
Speaker 1: and fancy cocktails, maybe going to like the fire Festival
Speaker 1: or something like that. But I mean, at the same time, though,
Speaker 1: like even when it comes to parenting, I think you
Speaker 1: can overdo it when it comes to if you kind
Speaker 1: of go into it with more of that yellow mindset. Right,
Speaker 1: And I'm not at all advocating that you're broke by
Speaker 1: the time your kids go off to college. All right,
Speaker 1: we have the best eighteen years of our lives, but
Speaker 1: now we're broke and we don't have any money save
Speaker 1: towards retirement at all. You can overdo it whether you're
Speaker 1: living that young twenties single lifestyle or even as a parent.
Speaker 1: I think there's a lot of different ways that you
Speaker 1: can overspend and have yellow as that excuse. Yeah, man,
Speaker 1: I feel like on the note of parenting too, once,
Speaker 1: once you kind of enter that phase of life, you
Speaker 1: are willing to kind of step back in the amount
Speaker 1: of work that you're willing to take on. You're willing
Speaker 1: to make sacrifices in order to enjoy time with your kids,
Speaker 1: with your family. That doesn't always have to, like you said,
Speaker 1: mean just a lot of expense. It doesn't have to
Speaker 1: mean spending a lot of money. And so there's a
Speaker 1: way to pursue the things in life that are meaningful,
Speaker 1: like relationships, community, family, in a way that allows you
Speaker 1: to still prioritize saving and investing. The most important things
Speaker 1: in life usually don't cost much money. Usually what it
Speaker 1: means is working a little bit less and being a
Speaker 1: little more intentional. And I think that's okay, right, that's okay,
Speaker 1: But that yolo lifestyle is just kind of antithetical to
Speaker 1: what we're trying to achieve, and it's definitely gonna prevent
Speaker 1: you from achieving some of those ultimate goals that you
Speaker 1: do want to achieve. So we're gonna talk about our
Speaker 1: thoughts on this beer, but man, let's first talk about
Speaker 1: our final thoughts from this episode. And Doc g He
Speaker 1: says that money that you make as a young person,
Speaker 1: it's going to be that fuel for your flight, that
Speaker 1: jet fuel. However, keep in mind that this doesn't mean
Speaker 1: that you have to make all your money early in
Speaker 1: your career, Like you don't have to make tons of
Speaker 1: money like this isn't the money that you'll be retiring on.
Speaker 1: The majority of the money that you were hier on
Speaker 1: is going to be the fruit of the money that
Speaker 1: you're investing now. It's going to be essentially like the
Speaker 1: grand grand grandchildren money of the money that you're investing now.
Speaker 1: And so I don't want people to hear this and
Speaker 1: think like jet fuel, Oh I've got a stock up,
Speaker 1: like this is the only chance I have to actually
Speaker 1: save any money. What you do need to make sure
Speaker 1: that you're doing now is taking that money that you
Speaker 1: are earning and get that ball rolling by investing it. Yeah,
Speaker 1: you gotta get started at least, right. That can be
Speaker 1: the hardest part, and it's also really important to use
Speaker 1: kind of frugality to help you. It's not necessary to
Speaker 1: have a huge income in order to get started, and Matt,
Speaker 1: a big income also isn't necessary in order to kind
Speaker 1: of reach some of these goals. They're countless examples of
Speaker 1: people striving after financial independence that make reasonable salaries, and
Speaker 1: someone earning a reasonable salary can use the tenants of
Speaker 1: frugality in order to kind of help them on their path,
Speaker 1: essentially growing that gap between what you earn and what
Speaker 1: goes out and then investing the rest right, and then
Speaker 1: you start that compound interest train going, and you're also
Speaker 1: kind of cutting out those unnecessary exp is you're not
Speaker 1: accruing debt and paying interest for lifestyle purchases. And in
Speaker 1: the same way that compounding interest is a massive benefit
Speaker 1: to you over the decades, well, compounding losses paying high
Speaker 1: interest rates for debt that you accrue for lifestyle purchases,
Speaker 1: that's going to have the opposite effect. But I think
Speaker 1: the most beautiful thing about this topic is that you
Speaker 1: can start frontloading the sacrifice now, no matter what age
Speaker 1: you are, if you're eighteen or if you're fifty two,
Speaker 1: you can start frontloading the sacrifice now. Start by identifying
Speaker 1: that goal keep on it with laser like focus, and
Speaker 1: that little bit of extra effort now is going to
Speaker 1: be mean a much smoother ride for you in the future. Awesome, Joe.
Speaker 1: Let's go ahead and take it now back to the beer.
Speaker 1: Huge things again to Leo out with Spindle Tap Brewery
Speaker 1: for sending us a bunch of beers. We're drinking aggressive
Speaker 1: additions I p A. And I'll kick this one off, man,
Speaker 1: I really really like this beer. This is fantastic. This
Speaker 1: was a hazy, hoppy I p A. And specifically some
Speaker 1: of the flavors I picked up on it were a
Speaker 1: funky blue cheese like hot flavor. And I've gotten confirmation
Speaker 1: from other guys that are into beer that they taste
Speaker 1: the same sort of profile, you know I'm talking about.
Speaker 1: I do. I kind of love like an I p
Speaker 1: A that's like hoppy, so happy that it's got that
Speaker 1: funk level addition the aftertaste that goes on your tongue.
Speaker 1: It's so nice. Yeah, yeah, it's so blue cheese is
Speaker 1: the best way to describe it. Where it's like the sharpness,
Speaker 1: which sounds weird. Yeah, it sounds really weird to say.
Speaker 1: I think most people listening who haven't tasted a beer
Speaker 1: like that. They're gonna say, that's weird. Why do those
Speaker 1: guys drink beers like that? That sounds disgusting. Why you're
Speaker 1: drinking blue cheese? But yeah, it's not quite so that
Speaker 1: funk level. But it's just this just enough sharpness that
Speaker 1: you get with a dry blue cheese. Like that kind
Speaker 1: of weird description, but a very delicious beer. Joel, your thoughts,
Speaker 1: I don't have any like fancy descriptors or anything like
Speaker 1: that mad for this one. I just thought it was really,
Speaker 1: really good, so I thoroughly enjoyed it. I would drink
Speaker 1: aggressive editions this beer probably every day of the week.
Speaker 1: It was like solid, Yeah, the new definition of a
Speaker 1: good beer. Yeah, this beer right here exactly. Yeah. So
Speaker 1: big thanks to to Leo from Spindle Tap Brewery sending
Speaker 1: this out to us man. We really appreciate it. Thanks Leo,
Speaker 1: and so Joel. That's gonna be it for this episode.
Speaker 1: Thanks everyone so much for listening. We really appreciate it.
Speaker 1: We'll have some show notes up on the website at
Speaker 1: how some money dot com, and we'll throw some links
Speaker 1: up there as well. If you want to check out
Speaker 1: some more stuff by Doc G and a quick reminder
Speaker 1: of the doc. G co hosts a podcast called What's
Speaker 1: Up Next, and it's a roundtable discussion of topics related
Speaker 1: to financial independence. And he does a really good job
Speaker 1: leading the conversation, having on interesting voices. So I thoroughly
Speaker 1: enjoy his podcast, and I think if you care about money,
Speaker 1: it's worth checking out for sure. And we'll put a
Speaker 1: link to that in the show notes as well. And
Speaker 1: if you like this episode and he found it helpful,
Speaker 1: we would appreciate your review on Apple Podcasts, and don't
Speaker 1: forget to hit the subscribe button. Why you're there, And
Speaker 1: if you think Matt and I have room for improvement,
Speaker 1: head on over to how the Money dot com slash
Speaker 1: do better. We love your feedback there as well, all right, Joel,
Speaker 1: So until next time, Best friends out, Best Friends Out,
Speaker 1: M M.