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Speaker 1: Welcome to How to Money. I'm Joel and I'm Matt,

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Speaker 1: and today we're discussing but isn't stock investing risky? Joel.

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Speaker 1: Short answer is no, it is not risky. So you

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Speaker 1: can go ahead and turn off the podcast. Done, all right,

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Speaker 1: that was easy. No, we are going to talk about

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Speaker 1: stock investing. We're gonna talk about how, in fact it

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Speaker 1: really isn't risky, and how the way we perceive risks

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Speaker 1: has a lot to do with our behavior and the

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Speaker 1: steps we take when it comes to investing, in particular

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Speaker 1: with retirement. So, yeah, looking forward to get into that, buddy. Yeah,

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Speaker 1: I feel like this is a subject I've been excited

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Speaker 1: to discuss for a while because risk is one of

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Speaker 1: those things that is in the eye of the beholder

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Speaker 1: to a certain extent, and so we're gonna clear up

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Speaker 1: a lot of misconceptions today, I think when it comes

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Speaker 1: to the idea of stock investing in its associated risks.

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Speaker 1: But real quick, Matt, I to kind of jump back

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Speaker 1: to something we talked about a long time ago in

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Speaker 1: the show. Do you even remember what episode that was

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Speaker 1: that we mentioned that to begin with? I completely don't.

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Speaker 1: It was early on. It was early on. I don't know.

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Speaker 1: I want to say episode like ten, twelve, fourteen somewhere

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Speaker 1: in there, but we haven't even said it yet. Secret Hopper,

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Speaker 1: that's what we're talking about yet. You and I we

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Speaker 1: got free beers the other night by signing up for

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Speaker 1: Secret Hopper. You can guess secret shopping for beer, right

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Speaker 1: for like Secret Shopper, but Hopper exactly, and so very clever,

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Speaker 1: very clever and so yeah. I randomly found out about

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Speaker 1: Secret Hopper online and we mentioned it on an older

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Speaker 1: show and since then, Secret Hopper actually launched in Atlanta

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Speaker 1: and we decided to to check it out to be

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Speaker 1: a mystery shopper at a brewery, and we got our

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Speaker 1: beers paid for by filling out a survey on the

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Speaker 1: back end after we had beers. And it was a

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Speaker 1: really fun experience, not just to get free beer, but

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Speaker 1: to kind of actually think about our brewery visit in

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Speaker 1: a way where we had to think through all those questions.

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Speaker 1: I really enjoyed kind of thinking about the experience like

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Speaker 1: that and documenting it. Yeah, one of the questions that

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Speaker 1: stood out to me was what smell did you notice

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Speaker 1: when you entered the brewery? Which, yeah, this is something

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Speaker 1: that I'm never going to tell somebody that works there, hey,

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Speaker 1: you know what it smells like here? But it's something

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Speaker 1: I always think, because you know how I am when

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Speaker 1: it comes to smell, I always think of weird things.

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Speaker 1: You have a ridiculous nose. I think people that have

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Speaker 1: listened for a while know that at this point. But yeah,

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Speaker 1: that I'll love that question, and that was my favorite

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Speaker 1: question to answer. But yeah, secret Hopper is super cool.

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Speaker 1: Be sure to check it out. You can become a

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Speaker 1: secret Hopper yourself and get paid twenty bucks for drinking beer,

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Speaker 1: something you might already be doing at a brewery. But then, also,

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Speaker 1: like you said, you will to provide feedback for maybe

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Speaker 1: a brewery that you love, ways to make that brewery

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Speaker 1: better is super cool. But then on top of that, Angel,

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Speaker 1: the guy that started it, How cool is it that

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Speaker 1: he was able to combine consulting with craft beer like

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Speaker 1: something that he already is into, with something he already

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Speaker 1: knows something about, and yeah, finding a way to create

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Speaker 1: that side hustle and who knows, hopefully he can go

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Speaker 1: full time with it someday, make it, make it totally legit. Yeah,

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Speaker 1: I feel like he just totally conquered a sweet side hustle.

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Speaker 1: It did something he was passionate about and it has

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Speaker 1: really built an interesting and fun business out of it.

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Speaker 1: I believe. He said there in over two breweries, maybe

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Speaker 1: in like two and or fifty breweries at this point,

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Speaker 1: which is really cool. Yeah, you can go to a

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Speaker 1: Secret Hopper dot com. That's his website, and you can

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Speaker 1: sign up and see if there's a brewery in your

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Speaker 1: area where you can sign up. Apparently, he said the

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Speaker 1: most brewis they have is in Columbus, Ohio. So if

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Speaker 1: you live in Columbus in particular, you're definitely gonna find

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Speaker 1: one or more that you can visit as a as

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Speaker 1: a secret hopper. But if you like us, like saving money,

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Speaker 1: and like drinking beer, it's like the perfect bearing Yeah, Joel,

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Speaker 1: and not just any beer. We're talking about delicious craft beer,

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Speaker 1: just like our buddy Pat from here in Atlanta, brought

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Speaker 1: to us from Jupiter, Florida. You would introduced this beer. Yeah.

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Speaker 1: So Pat's been a good buddy for a long time.

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Speaker 1: He also has just a fascinating job. He builds furniture.

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Speaker 1: He does buildouts around town for a lot of bars, restaurants,

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Speaker 1: and breweries, and he also loves beer. Just as much

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Speaker 1: as we do. And Pat nicely enough brought back some

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Speaker 1: beer from Florida. This is Center of the Sun and

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Speaker 1: it's a collaboration beer by Civil Society and Equilibrium Brewing,

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Speaker 1: and this is a double I P. A. Dude, we

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Speaker 1: cracked open this crowler and the scent of fresh oranges

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Speaker 1: just flooded the room. I can't wait to dig into this.

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Speaker 1: Actually just did dig into this. And yeah, man, you's

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Speaker 1: mentioned oranges. I think it's awesome that we've had multiple

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Speaker 1: beers now from Florida where their I p. A Is

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Speaker 1: have a ton of citrus going on. And so yeah,

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Speaker 1: looking forward to talking about this more at the end

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Speaker 1: of the episode. So Joel the topic of hen you

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Speaker 1: wanna go ahead and kick it off. Yeah, Matt, let's

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Speaker 1: get into it. We're talking about the riskiness of investing

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Speaker 1: in stocks, and a lot of people refuse they don't

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Speaker 1: invest in the stock market because of a perceived risk

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Speaker 1: that's inherent in investing in stocks. Right. They think of

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Speaker 1: it as similar to going to Vegas and putting money

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Speaker 1: on the roulette table or playing blackjack the slots, Right,

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Speaker 1: they're very different things. That will outline that in today's

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Speaker 1: episodes a lot of people recount the Great Depression or

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Speaker 1: the Great Recession, the recent Great recession, and millennials have

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Speaker 1: been averse in particular to investing in stocks based on

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Speaker 1: what they saw happen at the end of the last decade, Right,

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Speaker 1: and they decided that their money is better off left

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Speaker 1: in their nice, safe savings account. That's what we want

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Speaker 1: to combat, right, We want to combat that kind of

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Speaker 1: thinking that the stock market is gambling, that it's incredibly risky,

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Speaker 1: and that you should play it safe and be on

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Speaker 1: the sidelines. We don't feel that way, and I feel

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Speaker 1: like it's really helpful to have a discussion about risk

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Speaker 1: in general and what the risks are of not investing

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Speaker 1: in the stock market. At the same time, Yeah, and

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Speaker 1: you just mentioned savings accounts, and I think it's worth

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Speaker 1: mentioning as well. Like, we have seen an increase in

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Speaker 1: the rates that you can get by putting your money

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Speaker 1: in savings accounts, but even still it is not enough

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Speaker 1: to specifically be inflation. A lot of times you hear that,

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Speaker 1: oh slow and stead he wins the race. I'm just

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Speaker 1: gonna keep you know, keep my head down. I'm gonna

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Speaker 1: put my money over here. And if you if I

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Speaker 1: just keep doing that over time, I'm gonna end up okay.

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Speaker 1: But when it comes to your money, specifically in a

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Speaker 1: savings account, that is not the case. Like your money

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Speaker 1: essentially sits in there and rots, right, it degrades the

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Speaker 1: buying power that that money has decreases over time, and

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Speaker 1: it's again it's all due to inflation, which is I mean,

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Speaker 1: that's it's the enemy of cash, right, completely, Yeah, it

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Speaker 1: totally is. And so there is certainly a place for

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Speaker 1: savings accounts, right. That's a great place to stash your

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Speaker 1: emergency fund, as we've talked about, and it's great to

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Speaker 1: sign up for our savings account that's high yield, right,

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Speaker 1: compared to savings accounts from the major banks that offer

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Speaker 1: you very very little in return. But there's also a

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Speaker 1: major place for your money to be invested in stocks,

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Speaker 1: and it's really really important that you invest a decent

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Speaker 1: chunk continually through the months, through the years in order

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Speaker 1: to grow your wealth and beat the harmful effects of

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Speaker 1: inflation and so real quickly, we're not talking about single

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Speaker 1: stock investing. Matt and I are huge fans of broadly

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Speaker 1: diversified index funds. The last thing we want for you

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Speaker 1: to do is to speculate and to put a ton

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Speaker 1: of your money invested with one single company, or with

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Speaker 1: even just a few single companies. Right. That's not the

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Speaker 1: same as gambling, like we mentioned earlier, but it is

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Speaker 1: much much riskier than investing in broad market index funds.

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Speaker 1: And so that's one caveat that we wanted to get

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Speaker 1: out of the way earlier. When we're talking about investing

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Speaker 1: in the stock market, we're not saying putting all your

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Speaker 1: money in Tesla stock. We're saying put it in the

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Speaker 1: total stock market as a whole. And that is what

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Speaker 1: is perceived as were key by lots of folks, and

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Speaker 1: Matt and I are here to say, you know what,

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Speaker 1: it's really not all that risky. And Joel, one of

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Speaker 1: the other things too, regarding a risk specific to investing

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Speaker 1: in the stock market, is that it comes down to

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Speaker 1: your personal money goals, right, Like you mentioned a second ago,

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Speaker 1: saving money and putting it aside, and the savings account

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Speaker 1: the reason you would want to do that, Like you said,

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Speaker 1: if you had a short term savings goal, say you're

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Speaker 1: saving up some cash to buy a new car, that's

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Speaker 1: something you're gonna spend in the next couple of years.

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Speaker 1: Maybe in that case, Yeah, investing in the stock market

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Speaker 1: would be risky, and so you have to take the

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Speaker 1: context into account. You need to take into account the liquidity,

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Speaker 1: like how quickly do you want to be able to

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Speaker 1: access that money, because that does change your view of risk,

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Speaker 1: and that does change the amount of money that you

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Speaker 1: would want to put aside long term in the stock market.

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Speaker 1: So making sure you identify your goals. And for the

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Speaker 1: rest of this episode, for the most part, we're gonna

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Speaker 1: be talking about retirement investing. We're gonna be looking at

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Speaker 1: the long term. We're taking more of a long view

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Speaker 1: of money and investing in the stock market. Yeah, that

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Speaker 1: timeline is crucial to whether stock investing is risky or not. Right, So,

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Speaker 1: if you your money in thirty days, it's incredibly risky

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Speaker 1: to invest in the stock market. But if we're talking ten,

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Speaker 1: twenty or thirty years, the level of risk is incredibly low.

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Speaker 1: But the key is that avoiding risk altogether actually opens

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Speaker 1: you up to a whole another world of risk that

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Speaker 1: you didn't even know existed. So we'll talk about those

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Speaker 1: risks and the many perceived risks that people often have

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Speaker 1: when it comes to stock investing. Right, after the break,

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Speaker 1: all right, Joe, See before the break, you mentioned perceived

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Speaker 1: risks versus like the real risks. And I'm almost adverse

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Speaker 1: to saying perceived risks because it is only perception, right,

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Speaker 1: And to me though, it's almost less a risk that

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Speaker 1: you perceive, and it's almost like discomfort the way that

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Speaker 1: I was wrapping my head around this earlier. I was

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Speaker 1: thinking about it and it made me think of working out.

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Speaker 1: And so you work out, and you get sore and

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Speaker 1: your body is aching, and for the moment it kind

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Speaker 1: of sucks, right, but you know that you're growing, like

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Speaker 1: your muscles are getting bigger, you're getting stronger, and you

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Speaker 1: know like for the most part it's better for you.

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Speaker 1: And you run the risk of short term pain or injury,

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Speaker 1: even that might set you back slightly, but in the

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Speaker 1: long term, you know that it's good for your body, especially,

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Speaker 1: you know, like it's good for your heart. Right. However,

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Speaker 1: what if you don't work out at all, you run

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Speaker 1: the risk, like the true risk of truly turning into Joel.

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Speaker 1: I know you don't work out, but you're pretty healthy man,

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Speaker 1: You've had that bike. But when you don't work out, though,

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Speaker 1: you run the risk of your body getting weaker, you

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Speaker 1: run the risk of your health deteriorating over the long term,

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Speaker 1: and like heart disease and kind of all that stuff, right,

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Speaker 1: And so I'm equating like the current discomfort that you

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Speaker 1: might experience from working out, or even the current discomfort

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Speaker 1: of a small injury that you might have now, is

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Speaker 1: well worth the long term reward of knowing that, Man,

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Speaker 1: I'm taking care of my body, I'm healthy, I'm going

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Speaker 1: to be stronger in my old age. It's really easy

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Speaker 1: for me to see that. In regards to investing in

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Speaker 1: the stock market, right like you have these short term blips,

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Speaker 1: do you have these ups and downs in the market,

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Speaker 1: and it might set you back a little bit right now,

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Speaker 1: in the here and now, But in the long term,

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Speaker 1: you know that if you aren't actually doing something with

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Speaker 1: your money, you know, if you're not putting it to work,

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Speaker 1: you're not going to be able to grow that money,

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Speaker 1: and eventually it's just going to continue to decrease and

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Speaker 1: it's purchasing power and its actual value. I feel like

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Speaker 1: we can come up with lots of excuses for not

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Speaker 1: doing what's good for us when the data kind of

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Speaker 1: is in and we know what makes us healthy as humans,

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Speaker 1: we can choose at our own risk to say no,

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Speaker 1: I'm better off sitting on the couch watching Netflix and

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Speaker 1: avoiding the short term pain of working out. Right, not

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Speaker 1: only I don't think because I could experience some discomfort,

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Speaker 1: but it's like I could I could hurt something in

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Speaker 1: my body while I'm working out. That happens, right, people.

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Speaker 1: People get hurt sometimes while working out. But the bigger

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Speaker 1: risk is over the long term, your body deteriorating. And

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Speaker 1: it's the same thing with your money. The greatest risk

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Speaker 1: over the long term is your money deteriorating. And that's because,

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Speaker 1: like you mentioned earlier, the risk of inflation. Inflation is

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Speaker 1: this thing that will slowly eat your money and make

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Speaker 1: it completely worthless. And the only way to combat inflation

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Speaker 1: is to be investing your money, saving your money. You're

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Speaker 1: trying to get somewhere close to keeping up with inflation.

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Speaker 1: We have to take quote unquote risk with our money

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Speaker 1: in order to win in the end. And Warren Buffett

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Speaker 1: has this great quote. He says, risk comes from not

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Speaker 1: knowing what you're doing. And so we want to kind

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Speaker 1: of help you understand a little bit about risk and

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Speaker 1: how you can know what you're doing feel comfortable doing it,

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Speaker 1: see where the real risk lies, and then see what

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Speaker 1: actions you need to take based on the actual risks

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Speaker 1: that exist. So let's go ahead now and jump into

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Speaker 1: perceived risks that folks tend to be afraid of versus

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Speaker 1: like the real risk that's actually present. So the first one.

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Speaker 1: Oftentimes you hear of folks being afraid of losing all

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Speaker 1: of their money. And historically, you know, this is impossible.

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Speaker 1: And I say historically because up until now, the stock

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Speaker 1: market has always gone up over the long term. So

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Speaker 1: historically it is impossible to lose all your money with

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Speaker 1: a buy and hold approach, with a diversified portfolio. And

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Speaker 1: so since its inception, the stock market has averaged ten percent.

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Speaker 1: And you're not gonna lose your money if you're making

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Speaker 1: ten percent, you know, if you purchase and then you

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Speaker 1: hold it and you don't sell at the wrong time. Yeah,

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Speaker 1: the real risk is not losing all your money. The

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Speaker 1: real risk is not investing at all. Avoiding risk in

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Speaker 1: this capacity is the riskiest move that you can make.

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Speaker 1: Like we said, you'll slowly erode the value of your

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Speaker 1: money inflation. Is the actual risk not investing in the

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Speaker 1: stock market. Yeah, Joel in second to not investing at all,

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Speaker 1: is waiting too late to start investing. And so you know,

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Speaker 1: compounding interest is incredibly powerful. So joel a quick example.

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Speaker 1: So based on historical returns, you know, if someone were

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Speaker 1: to invests a year from the ages of twenty five

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Speaker 1: to forty five, right, twenty years, they've put in a

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Speaker 1: total of forty thou dollars, but then they stop investing

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Speaker 1: all together. But then they allow that money to compound.

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Speaker 1: Twenty years later, by the age of sixty five, they

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Speaker 1: would have over one million dollars. And that's amazing to

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Speaker 1: be able to convert forty dollars to one million dollars

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Speaker 1: by not doing anything, by letting it sit. And what's

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Speaker 1: key here though, is starting early. Right in this example,

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Speaker 1: this person started investing at the age of twenty five.

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Speaker 1: I wasn't investing like that at the age of five.

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Speaker 1: I think maybe you were because you were a lot

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Speaker 1: smarter than I was. But hey, when sudden you lose them,

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Speaker 1: you're a smarter pants. The next perceived risk that that

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Speaker 1: we want to talk about, Matt is choosing the right stock.

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Speaker 1: A lot of people think that they have to do

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Speaker 1: tons of research on a company, have special knowledge of

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Speaker 1: that particular company. But with widely diversified index funds, you

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Speaker 1: don't have to be a good stock picker. You pick

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Speaker 1: them all. I feel like that's actually a really big

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Speaker 1: reason that people avoid the stock market, because they think

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Speaker 1: they need to know which company is going to beat

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Speaker 1: all the other companies? Is Amazon going to continue on

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Speaker 1: the same trajectory apples down? Should I be worried? Do

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Speaker 1: I need to invest in companies that I know? And

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Speaker 1: you know what? None of those things are the case.

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Speaker 1: You don't really have to know that much. You just

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Speaker 1: have to know the trajectory of American companies as a

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Speaker 1: whole and feel comfortable that our country does a great

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Speaker 1: job stimulating a free and open marketplace where goods and

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Speaker 1: services can be traded freely, and so there's no need

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Speaker 1: to choose the right stock. The only thing you need

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Speaker 1: to be concerned about buying is those pieces of American

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Speaker 1: industry as a whole. Chedue And you just said this

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Speaker 1: very quickly, but you said pick them all, like you

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Speaker 1: get to have them all. That's exactly right, though. Like

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Speaker 1: an index fund, which is what we're recommending here, is

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Speaker 1: made up of all the stocks. The ones we love

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Speaker 1: are the total market funds, and these are made up

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Speaker 1: of hundreds and even thousands of stocks, And so the

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Speaker 1: real risk that you run is not knowing what specific

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Speaker 1: company to buy. It's that you go all in in

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Speaker 1: one specific stock and that you are not diversified. So

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Speaker 1: in this case, diversification is your friend, and focusing in

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Speaker 1: on single companies or individual stocks. You don't have to

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Speaker 1: be the next warm buffet. You don't have to be

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Speaker 1: Charlie Monger. You don't need to feel the pressure to

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Speaker 1: spend all this time researching and being the next prodigy. Instead,

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Speaker 1: investing in the stock market can be as easy as

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Speaker 1: choosing a single index fund. Yeah, Matt, I'll confess I've

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Speaker 1: never read a company earning report. I haven't either. And

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Speaker 1: when it comes to like real estate investing, right, we

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Speaker 1: do a lot of research, We do a lot of

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Speaker 1: street to street, we do a lot of driving around.

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Speaker 1: We know the market. But when it comes to the

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Speaker 1: stock market, ignorance is bliss to me. I will plainly

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Speaker 1: take broadly diversified and low cost over stock picking because

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Speaker 1: I just don't have the time or the desire to

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Speaker 1: read earnings reports, to do the research on individual companies

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Speaker 1: to find out which ones I think are gonna win

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Speaker 1: in the long run. And I think for most of us,

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Speaker 1: with day jobs, family, kids, friends, neighborhood whatever, there's all

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Speaker 1: these things going on. Most of us just aren't going

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Speaker 1: to read earnings reports. We're not going to do the

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Speaker 1: research to find out which company is gonna win when

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Speaker 1: it comes to self driving cars and try to go

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Speaker 1: all in on that, right like which industry is the

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Speaker 1: next one to blow up? God bless you. If that's

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Speaker 1: something you're interested in, that's just not something that Matt

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Speaker 1: and I care about, And so we just want to

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Speaker 1: encourage you that choosing the right stock is not important

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Speaker 1: at all, and that in fact, trying to pick the

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Speaker 1: right stock is a much riskier proposition and another perceived

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Speaker 1: risk that a lot of folks fear are the ups

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Speaker 1: and downs of the stock market. And you know, it's

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Speaker 1: true that stocks they are very risky on a short timeline.

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Speaker 1: That's why we talked about how if you're looking to

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Speaker 1: pull your funds out in the next thirty days or

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Speaker 1: the next several months or even a year, you do

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Speaker 1: not want to put your money in the stock market.

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Speaker 1: You know, when you're in it for the long haul,

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Speaker 1: those short term rises and falls, they don't matter. If anything,

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Speaker 1: you should see those and think that's not something I

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Speaker 1: have to worry about, because again, our sites are set

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Speaker 1: on the long term, and again what we mean by

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Speaker 1: that is at least five years, but preferably ten, twenty,

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Speaker 1: or even thirty years down the road. Yeah. So the

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Speaker 1: real risk do you in this scenario is not the

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Speaker 1: ups and downs of the market. It is your emotions.

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Speaker 1: It's emotionally reacting to these ups and downs, selling at

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Speaker 1: the wrong time, or even thinking that you can time

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Speaker 1: the stock market. Even with the stock market being at

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Speaker 1: all time highs recently, I've had so many questions come

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Speaker 1: my way that say, should I be selling a certain

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Speaker 1: amount of my stock index funds and converting my money

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Speaker 1: into cash? And just for me, I'm not comfortable doing that.

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Speaker 1: I don't think I can time the market. The real

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Speaker 1: risk is me emotionally reacting based on artificial knowledge that

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Speaker 1: I don't actually have. And so my goal is to

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Speaker 1: stay the course for thirty forty years. It's not to

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Speaker 1: time the market in any way former fashion um, And

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Speaker 1: so just remember, check your emotions at the door, and

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Speaker 1: that's how you're going to avoid one of the most

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Speaker 1: prominent risks that investors face in forty years. You're not

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Speaker 1: gonna set your money for that long. You must think

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Speaker 1: you're gonna live to be like a hundred. I'm gonna

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Speaker 1: be like Methusela age dude, because you're already six years

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Speaker 1: old now though, Hey, well my grandpa really passed away.

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Speaker 1: He lived in ninety seven, and so I don't know, man,

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Speaker 1: like with the jeans, dude, I know, right, So with

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Speaker 1: longevity these days at medicine technology, yeah, completely, living to

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Speaker 1: a hundred is not outside of the realm of even normalcy,

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Speaker 1: much less possibility, right, And so thinking about the long

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Speaker 1: long haul, I'm thinking on a thirty to forty year timeline.

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Speaker 1: I don't know exactly when I'll be tapping those retirement funds,

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Speaker 1: but the biggest thing I want to avoid is emotionally

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Speaker 1: getting in and getting out of the stock market at

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Speaker 1: times that are often going to be the most inopportune.

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Speaker 1: You know, yeah, man, I totally hear you. And another

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Speaker 1: sort of misconception, you know, this is less of a

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Speaker 1: sort of perceived risk, but a misconception about investing in

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Speaker 1: the stock market is that it takes just a ton

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Speaker 1: of money to kind of get started feeling like you

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Speaker 1: have to have all these funds set aside to even

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Speaker 1: make your first purchase or your first I don't know.

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Speaker 1: How do you place an order to to buy a

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Speaker 1: fund or a share of a stock? Do I have

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Speaker 1: to have ten thousand dollars sage up first? I don't know.

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Speaker 1: And the fact is that is just not true. You

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Speaker 1: no longer have to have tons of money set aside

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Speaker 1: to get in the game, specifically with Fidelity and m one.

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Speaker 1: We mentioned them on the micro Investing app episode, but

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Speaker 1: they do not require a minimum investment at all. You

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Speaker 1: mentioned Vegas earlier, and sort of in that analogy, you

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Speaker 1: get to show up at the table, you get to

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Speaker 1: pull up a seat and get to see what's going on,

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Speaker 1: and you get those free drinks on the house, right,

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Speaker 1: that's right. Well, not from personal experience. Have you been

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Speaker 1: to Vegas. I've never been to Vegas, but my mother

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Speaker 1: in law actually it's thirty minutes from Tunica, so I

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Speaker 1: might have played a little blackack there every once in

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Speaker 1: a while. That's like Vegas if you live close to

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Speaker 1: the Mississippi, right exactly, exactly, much more depressing. Vegas and

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Speaker 1: one of our favorites Matt Vanguard, it does take a

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Speaker 1: minimum of a thousand dollars to open account. So that's

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Speaker 1: why we love Vanguard, we love in one and Fidelity.

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Speaker 1: They're all great low cost options for your investing. But

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Speaker 1: the old adage that it takes money to make money

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Speaker 1: to a certain extent is still true, right, But but

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Speaker 1: it doesn't take a lot of money to actually start investing.

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Speaker 1: You can get started today with ten dollars. That's kind

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Speaker 1: of what's cool about the democratization of investing that's happened.

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Speaker 1: It really doesn't take that much money to get in

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Speaker 1: the game. Like you said, Yeah, so that's not the

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Speaker 1: risk that need to be worried about. The real risk

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Speaker 1: is paying too much of your money while you're investing

429
00:19:03,720 --> 00:19:06,080
Speaker 1: in these different funds and e t f s and

430
00:19:06,240 --> 00:19:09,800
Speaker 1: fees we've mentioned previously on shows. VT s a x

431
00:19:10,040 --> 00:19:13,160
Speaker 1: or as people like to affectionally call it. VT SACKS

432
00:19:13,280 --> 00:19:16,560
Speaker 1: has a point zero four percent expense ratio point zero

433
00:19:16,560 --> 00:19:19,800
Speaker 1: four percent. That is almost nothing, but it doesn't be

434
00:19:20,080 --> 00:19:23,119
Speaker 1: actually nothing. And I was researching some and Fidelity they

435
00:19:23,160 --> 00:19:27,440
Speaker 1: recently launched their completely free funds with zero cost and

436
00:19:27,640 --> 00:19:32,080
Speaker 1: their total market fund equivalent is FZ Rocks r o X,

437
00:19:32,240 --> 00:19:36,280
Speaker 1: which is totally awesome and bad a because it rocks. Yeah,

438
00:19:36,280 --> 00:19:38,520
Speaker 1: it really does. And I just think that's fantastic that

439
00:19:38,560 --> 00:19:42,119
Speaker 1: Fidelity has recently launched this entire portfolio, this entire line

440
00:19:42,400 --> 00:19:45,960
Speaker 1: of these different funds that literally have zero expenses associated

441
00:19:46,000 --> 00:19:47,800
Speaker 1: with them. Yeah. So the big risk, Matt, is not

442
00:19:47,840 --> 00:19:48,920
Speaker 1: that you have to bring a lot of money to

443
00:19:48,960 --> 00:19:51,160
Speaker 1: the table. The big risk is paying too much in fees.

444
00:19:51,359 --> 00:19:53,080
Speaker 1: And that could be advisory fees that could be a

445
00:19:53,119 --> 00:19:56,600
Speaker 1: percentage of your portfolio, or even just an annual fee

446
00:19:56,640 --> 00:19:59,240
Speaker 1: that you pay an advisor. You know. That's where I was. Actually,

447
00:19:59,280 --> 00:20:02,399
Speaker 1: like ten years ago, I had a super fancy mutual

448
00:20:02,440 --> 00:20:04,399
Speaker 1: fund because a friend of mine recommended it to me.

449
00:20:04,760 --> 00:20:06,840
Speaker 1: And dude, no joke, I want to say. It had

450
00:20:06,880 --> 00:20:09,840
Speaker 1: like a one point annual fee that you throw that

451
00:20:09,880 --> 00:20:12,439
Speaker 1: already on top of inflation, and man, like, that's a

452
00:20:12,440 --> 00:20:14,919
Speaker 1: lot to overcome. Yeah, it eats into the returns. So

453
00:20:14,960 --> 00:20:17,080
Speaker 1: the real risk is is the fees that you pay

454
00:20:17,080 --> 00:20:18,720
Speaker 1: over time, and that could be to an advisor, that

455
00:20:18,720 --> 00:20:21,280
Speaker 1: could be the individual fund fees. There's so many ways

456
00:20:21,280 --> 00:20:23,200
Speaker 1: that you can get feed in the world of investing,

457
00:20:23,400 --> 00:20:25,040
Speaker 1: and that's what you want to avoid and that's why

458
00:20:25,119 --> 00:20:27,600
Speaker 1: Matt and I are fans of Vanguard, fans of Fidelity,

459
00:20:27,880 --> 00:20:30,240
Speaker 1: fans of in one, because that's where you're gonna get

460
00:20:30,280 --> 00:20:33,439
Speaker 1: the smallest fees and access to some of the best funds,

461
00:20:33,600 --> 00:20:35,320
Speaker 1: and it doesn't take a whole lot of money in

462
00:20:35,400 --> 00:20:37,600
Speaker 1: order to get started. Okay, Joe, Now that we have

463
00:20:37,600 --> 00:20:40,760
Speaker 1: identified how investing in the stock market is not actually risky,

464
00:20:41,040 --> 00:20:43,119
Speaker 1: right after the break, we're gonna dive into how easy

465
00:20:43,400 --> 00:20:55,439
Speaker 1: it is to actually invest in the stock market. All right, man,

466
00:20:55,440 --> 00:20:57,840
Speaker 1: In a second, we're gonna talk about when risk rears

467
00:20:57,840 --> 00:21:00,560
Speaker 1: its ugly head, like how we stay the course one investing.

468
00:21:00,640 --> 00:21:02,280
Speaker 1: But first let's talk about how easy it is to

469
00:21:02,320 --> 00:21:05,080
Speaker 1: invest in the stock market. Good news, It's really easy. Yeah,

470
00:21:05,160 --> 00:21:07,320
Speaker 1: let's talk about the actual mechanics of it. And so

471
00:21:07,400 --> 00:21:08,960
Speaker 1: know that if you have a four O one K

472
00:21:09,240 --> 00:21:11,600
Speaker 1: or a Roth four O one K at work, purchasing

473
00:21:11,640 --> 00:21:15,199
Speaker 1: funds and ets within that vehicle, within those accounts is

474
00:21:15,240 --> 00:21:17,400
Speaker 1: actually investing in the stock market, and that is the

475
00:21:17,440 --> 00:21:19,879
Speaker 1: easiest way to get started investing in the stock market.

476
00:21:19,920 --> 00:21:21,919
Speaker 1: You want to make sure that you're doing this first,

477
00:21:22,400 --> 00:21:25,000
Speaker 1: especially if you have an employer match that's free money

478
00:21:25,000 --> 00:21:28,359
Speaker 1: and essentially a return on your investment, So make sure

479
00:21:28,359 --> 00:21:30,720
Speaker 1: you're doing that first. So if you have not taken

480
00:21:30,720 --> 00:21:33,000
Speaker 1: advantage of that benefit, you know, and it really is

481
00:21:33,000 --> 00:21:35,680
Speaker 1: a benefitial like that is something that your employer offers

482
00:21:35,800 --> 00:21:38,680
Speaker 1: you as an employee, make sure you take advantage of that.

483
00:21:38,720 --> 00:21:40,399
Speaker 1: It's already in place. All you have to do is

484
00:21:40,480 --> 00:21:42,760
Speaker 1: talk to HR or whoever it is that you talk

485
00:21:42,800 --> 00:21:44,840
Speaker 1: to about your benefits and make sure you get that

486
00:21:44,880 --> 00:21:46,880
Speaker 1: thing activated. Yeah, you might not even have to talk

487
00:21:46,920 --> 00:21:49,199
Speaker 1: to anyone, just like click the button and up your

488
00:21:49,200 --> 00:21:51,880
Speaker 1: percentage right that that you're putting into your retirement account.

489
00:21:51,920 --> 00:21:53,960
Speaker 1: So that's hitting the easy button right there. That's a

490
00:21:54,000 --> 00:21:55,879
Speaker 1: good way to go. Another way to do it is

491
00:21:55,920 --> 00:21:57,760
Speaker 1: to open up your own i RA A that's an

492
00:21:57,800 --> 00:22:00,760
Speaker 1: individual retirement account. Matt and I really like the ROTH

493
00:22:00,880 --> 00:22:02,840
Speaker 1: version of that for a lot of reasons that we're

494
00:22:02,840 --> 00:22:05,280
Speaker 1: gonna get into on a future episode. But with an

495
00:22:05,280 --> 00:22:08,600
Speaker 1: online brokerage account like Vanguard, Fidelity or in one their

496
00:22:08,680 --> 00:22:11,480
Speaker 1: low cost which means your money is stays working for you,

497
00:22:11,760 --> 00:22:14,600
Speaker 1: it'll it'll take you ten maybe fifteen minutes to open

498
00:22:14,680 --> 00:22:16,920
Speaker 1: up an IRA and to transfer money from your bank

499
00:22:16,960 --> 00:22:21,080
Speaker 1: account and start investing. Tonight if you haven't started and

500
00:22:21,440 --> 00:22:23,600
Speaker 1: risk was the thing keeping you back, Oh man, the

501
00:22:23,640 --> 00:22:25,960
Speaker 1: stock markets risky. I don't think I want to do that. Well,

502
00:22:26,080 --> 00:22:29,080
Speaker 1: opening up an IRA on your own is easy. Well,

503
00:22:29,119 --> 00:22:31,960
Speaker 1: hopefully we've kind of helped you think through the idea

504
00:22:32,000 --> 00:22:33,919
Speaker 1: of risk just a little bit and the fact that

505
00:22:34,000 --> 00:22:36,600
Speaker 1: investing in the stock market isn't nearly as risky as

506
00:22:36,640 --> 00:22:39,520
Speaker 1: you thought it was, and opening up in IRA is

507
00:22:39,560 --> 00:22:41,840
Speaker 1: just kind of a great way to begin. So once

508
00:22:41,880 --> 00:22:43,720
Speaker 1: you've opened up that work sponsored for oh one K

509
00:22:44,080 --> 00:22:47,400
Speaker 1: or that individual retirement account, that IRA, the next thing

510
00:22:47,400 --> 00:22:49,000
Speaker 1: that you want to do is make sure that you're

511
00:22:49,000 --> 00:22:50,840
Speaker 1: actually purchasing the funds or the e t f s,

512
00:22:51,119 --> 00:22:53,880
Speaker 1: because that's where the actual investing in the stock market happens.

513
00:22:53,920 --> 00:22:56,639
Speaker 1: A lot of times in your different retirement accounts, you

514
00:22:56,760 --> 00:22:58,879
Speaker 1: have the sort of default option of that money getting

515
00:22:58,880 --> 00:23:02,000
Speaker 1: swept into a money market account, and you are not

516
00:23:02,080 --> 00:23:04,840
Speaker 1: earning stock market money by allowing your money to just

517
00:23:04,880 --> 00:23:06,919
Speaker 1: sit there. Sometimes it just sits there in cash, it

518
00:23:06,920 --> 00:23:09,239
Speaker 1: doesn't even earn anything. So what you need to make

519
00:23:09,240 --> 00:23:12,359
Speaker 1: sure that you are actually doing is truly investing in

520
00:23:12,359 --> 00:23:14,000
Speaker 1: the stock market. You want to look at those low

521
00:23:14,040 --> 00:23:16,479
Speaker 1: cost index funds. Yeah, Matt, I met way too many

522
00:23:16,560 --> 00:23:18,680
Speaker 1: people that thought that they were invested in the stock

523
00:23:18,680 --> 00:23:20,600
Speaker 1: market because they had a four oh one K through

524
00:23:20,600 --> 00:23:22,840
Speaker 1: their work or they'd opened up an IRA. They took

525
00:23:22,840 --> 00:23:25,320
Speaker 1: good advice, right, and they opened up the account and

526
00:23:25,359 --> 00:23:27,440
Speaker 1: they put their money in. But what they didn't do

527
00:23:27,640 --> 00:23:30,440
Speaker 1: was choose the right allocation. They didn't choose any allocation,

528
00:23:30,560 --> 00:23:32,560
Speaker 1: and they kept it in cash or in a money

529
00:23:32,600 --> 00:23:35,920
Speaker 1: market account, whether from a lack of knowledge or perceived

530
00:23:36,000 --> 00:23:38,480
Speaker 1: risk of investing in stocks. And so, yeah, if you

531
00:23:38,520 --> 00:23:39,800
Speaker 1: do have an account, if you do have a four

532
00:23:39,800 --> 00:23:41,119
Speaker 1: o one K, you haven't taken a look at what

533
00:23:41,160 --> 00:23:43,760
Speaker 1: it's invested in in a long time. You have an IRA,

534
00:23:44,040 --> 00:23:46,600
Speaker 1: and you just have no idea where your funds are

535
00:23:46,720 --> 00:23:49,359
Speaker 1: inside of that IRA. It's really important to go take

536
00:23:49,400 --> 00:23:52,240
Speaker 1: a look, like really soon and make sure that your

537
00:23:52,280 --> 00:23:55,520
Speaker 1: money isn't just sitting there idly by, but that it's invested,

538
00:23:55,800 --> 00:23:59,080
Speaker 1: like we said, low cost, well diversified funds for the

539
00:23:59,119 --> 00:24:01,320
Speaker 1: long haul. Because is even if you have money in

540
00:24:01,359 --> 00:24:04,359
Speaker 1: one of these great investment vehicles, if it's essentially sitting

541
00:24:04,400 --> 00:24:07,160
Speaker 1: on the sidelines right in the cash type choice, then

542
00:24:07,160 --> 00:24:10,760
Speaker 1: you're running the risk of your money, not outpacing inflation chedule.

543
00:24:10,800 --> 00:24:12,760
Speaker 1: And once you've purchased those funds, once you've made those

544
00:24:12,840 --> 00:24:15,719
Speaker 1: orders online, like that is it? Like, congratulations, you are

545
00:24:15,760 --> 00:24:18,600
Speaker 1: now invested in the stock market. Like it was a

546
00:24:18,640 --> 00:24:20,200
Speaker 1: lot easier than you thought, wasn't it. Yeah, Like a

547
00:24:20,240 --> 00:24:22,080
Speaker 1: lot of times people think it's it's so complicated, or

548
00:24:22,119 --> 00:24:23,840
Speaker 1: they have to make phone calls or there's some sort

549
00:24:23,840 --> 00:24:25,840
Speaker 1: of special thing that shows up in the mail to

550
00:24:25,920 --> 00:24:27,600
Speaker 1: tell them that, like you are now invested in the

551
00:24:27,600 --> 00:24:29,680
Speaker 1: stock market, Like, no, that's not the case, Like it's

552
00:24:29,720 --> 00:24:32,040
Speaker 1: easy as that. It's just rinse and repeat, Like those

553
00:24:32,080 --> 00:24:34,160
Speaker 1: are the steps that we have to take over and over. Yeah,

554
00:24:34,240 --> 00:24:36,800
Speaker 1: if you have used an app like Venmo, you know

555
00:24:36,800 --> 00:24:39,160
Speaker 1: how to invest in the stock market. Like seriously, if

556
00:24:39,160 --> 00:24:41,240
Speaker 1: you can transfer money to a friend, you can place

557
00:24:41,280 --> 00:24:44,080
Speaker 1: in order for a low cost index fund, Like that's

558
00:24:44,119 --> 00:24:47,200
Speaker 1: how easy it is. So just know that it's simple. Okay,

559
00:24:47,200 --> 00:24:48,879
Speaker 1: So you're investing in the stock market now, and then

560
00:24:48,880 --> 00:24:50,439
Speaker 1: the question comes up, how do I keep it up?

561
00:24:50,440 --> 00:24:52,800
Speaker 1: Like how can you stay the course when the perceived

562
00:24:52,880 --> 00:24:55,719
Speaker 1: risks make themselves known? And the answer is to not

563
00:24:55,840 --> 00:24:58,280
Speaker 1: look at your retirement account statements you want to make

564
00:24:58,320 --> 00:25:01,479
Speaker 1: sure you are staying in the course the economy, the market,

565
00:25:01,560 --> 00:25:05,119
Speaker 1: it will have huge bumps and there will be massive corrections.

566
00:25:05,320 --> 00:25:07,560
Speaker 1: You want to make sure that you're not changing your plan,

567
00:25:07,800 --> 00:25:09,199
Speaker 1: and you want to make sure that you're just not

568
00:25:09,280 --> 00:25:12,720
Speaker 1: reacting to those financial news headlines. Yes, so start now

569
00:25:12,800 --> 00:25:14,919
Speaker 1: if you haven't already, and plan to invest for the

570
00:25:14,920 --> 00:25:17,080
Speaker 1: long term. We're talking more than five years. And like

571
00:25:17,160 --> 00:25:19,560
Speaker 1: Matt said, don't pay attention to the financial news. And

572
00:25:19,600 --> 00:25:21,639
Speaker 1: at the same time, don't even pay attention to your

573
00:25:21,680 --> 00:25:24,960
Speaker 1: account balance, because the more you look at the day

574
00:25:24,960 --> 00:25:29,200
Speaker 1: to day on something that is invested for decades to come,

575
00:25:29,480 --> 00:25:33,200
Speaker 1: the more likely you are to assume that your investments

576
00:25:33,200 --> 00:25:35,600
Speaker 1: are riskier than they actually are. Because if you look

577
00:25:35,640 --> 00:25:38,280
Speaker 1: on a day to day basis, investing in stocks, like

578
00:25:38,320 --> 00:25:40,359
Speaker 1: we said, looks risky, but when you're thinking about it

579
00:25:40,400 --> 00:25:43,400
Speaker 1: in the long term, there's very very little risk associated

580
00:25:43,400 --> 00:25:45,600
Speaker 1: with investing in the stock market. So don't even pay

581
00:25:45,640 --> 00:25:48,720
Speaker 1: attention to your statements. That is your ticket to building

582
00:25:48,800 --> 00:25:50,840
Speaker 1: long term wealth. All right, Joe, let's go ahead and

583
00:25:50,880 --> 00:25:53,800
Speaker 1: get back now to that beer. This episode, we are

584
00:25:53,880 --> 00:25:57,280
Speaker 1: drinking Center of the Sun, which is a collaboration between

585
00:25:57,359 --> 00:26:00,720
Speaker 1: civil society in equilibrium. Which have you ever had an

586
00:26:00,760 --> 00:26:03,240
Speaker 1: equilibrium before? I don't think so. I don't think I

587
00:26:03,240 --> 00:26:05,119
Speaker 1: have either. You know what I like about collaboration beers.

588
00:26:05,400 --> 00:26:08,000
Speaker 1: It's like drinking two beers at once. I know, like

589
00:26:08,040 --> 00:26:10,600
Speaker 1: he takes two different breweris what they're a little bit

590
00:26:10,600 --> 00:26:13,000
Speaker 1: of characteristics maybe from both, is what I hope I guess.

591
00:26:13,119 --> 00:26:16,199
Speaker 1: But yeah, this this beer is fantastic. It's super orangey,

592
00:26:16,320 --> 00:26:18,080
Speaker 1: like we both talked about. We could smell it, but

593
00:26:18,119 --> 00:26:20,280
Speaker 1: it's kind of got like that pithy bitterness mixed in

594
00:26:20,320 --> 00:26:22,960
Speaker 1: with that sort of fruit sweetness and it just ends

595
00:26:23,000 --> 00:26:25,800
Speaker 1: up being a super smooth, well balanced I p A.

596
00:26:26,240 --> 00:26:28,320
Speaker 1: This kind of I p A is quickly becoming just

597
00:26:28,400 --> 00:26:30,600
Speaker 1: my go to type of IPA that I want to

598
00:26:30,680 --> 00:26:33,119
Speaker 1: drink all the time. Anytime you involved that citrus and

599
00:26:33,160 --> 00:26:36,560
Speaker 1: that hazy color and the glass, I can't get enough

600
00:26:36,560 --> 00:26:38,800
Speaker 1: of that. This beer to Meat really tasted kind of

601
00:26:38,840 --> 00:26:41,399
Speaker 1: like slightly unripe oranges, And I mean that in the

602
00:26:41,400 --> 00:26:43,879
Speaker 1: best way possible, especially for a beer coming out of

603
00:26:43,880 --> 00:26:46,399
Speaker 1: the state of Florida to taste like oranges. Is kind

604
00:26:46,400 --> 00:26:48,160
Speaker 1: of where it's at, sort of like you're driving down

605
00:26:48,440 --> 00:26:50,720
Speaker 1: was and you can see the orange trees off on

606
00:26:50,760 --> 00:26:52,960
Speaker 1: the side and you're driving down in Miami Exactly. I

607
00:26:52,960 --> 00:26:54,959
Speaker 1: can like picture picture in my head right while I'm

608
00:26:54,960 --> 00:26:57,080
Speaker 1: sipping on this beer. So big thanks to our friend

609
00:26:57,080 --> 00:26:58,960
Speaker 1: Pat for bringing this beer up for us. He runs

610
00:26:59,240 --> 00:27:02,320
Speaker 1: a sweet would working shop called Baton Union where we

611
00:27:02,359 --> 00:27:04,560
Speaker 1: live here in Atlanta. Yeah, chances are if you've been

612
00:27:04,560 --> 00:27:06,879
Speaker 1: to a restaurant in Atlanta, you've sat on some of

613
00:27:06,920 --> 00:27:10,199
Speaker 1: their work because they do restaurant buildouts in all of

614
00:27:10,240 --> 00:27:15,480
Speaker 1: the awesome restaurants and bars. Yeah, and this beer was delicious.

615
00:27:15,720 --> 00:27:18,320
Speaker 1: So we're lucky to have friends like Pat right. Yeah,

616
00:27:18,320 --> 00:27:21,040
Speaker 1: and special mad props to Pat for getting this to

617
00:27:21,080 --> 00:27:23,520
Speaker 1: a super fresh. He was down in Florida yesterday. I

618
00:27:23,560 --> 00:27:25,040
Speaker 1: don't know if we said that that at the beginning

619
00:27:25,080 --> 00:27:27,400
Speaker 1: of the episode, but he was down there doing an install.

620
00:27:27,920 --> 00:27:29,879
Speaker 1: He was there at the brewery, got this in the crowler,

621
00:27:29,960 --> 00:27:31,960
Speaker 1: brought it back, and we're drinking it the next day,

622
00:27:32,119 --> 00:27:34,159
Speaker 1: And so I think there's something extra special about it

623
00:27:34,160 --> 00:27:37,120
Speaker 1: tasting extra fresh. Fresh I p A s are where

624
00:27:37,280 --> 00:27:39,040
Speaker 1: that you definitely don't want to let your I p

625
00:27:39,200 --> 00:27:40,920
Speaker 1: A sit for too long. They started to taste like

626
00:27:40,920 --> 00:27:43,359
Speaker 1: trash after a while, so that this one super fresh

627
00:27:43,680 --> 00:27:45,119
Speaker 1: and and I think it's part of the reason it

628
00:27:45,160 --> 00:27:47,640
Speaker 1: tastes so dang good. But enough about beer, Matt, Let's

629
00:27:47,640 --> 00:27:50,200
Speaker 1: get to our final thoughts on the riskiness of stock

630
00:27:50,240 --> 00:27:52,359
Speaker 1: investing all r Joel. In the last part of the

631
00:27:52,359 --> 00:27:54,800
Speaker 1: episode here we talked about having a plan. We talked

632
00:27:54,800 --> 00:27:58,080
Speaker 1: about our approach to retirement investing. But having an investing

633
00:27:58,119 --> 00:28:01,520
Speaker 1: plan doesn't mean that you've eliminated risk. Since the market

634
00:28:01,520 --> 00:28:05,680
Speaker 1: and life is just unpredictable, it's impossible to fully eliminate risk.

635
00:28:05,800 --> 00:28:08,640
Speaker 1: But by having a plan, we can help manage risk

636
00:28:08,800 --> 00:28:11,680
Speaker 1: and our own emotional reactions to the market. Yeah, Matt,

637
00:28:11,760 --> 00:28:15,080
Speaker 1: you could stay indoors to avoid exposure to potential accidents

638
00:28:15,200 --> 00:28:17,840
Speaker 1: or the damaging rays of the sun. You could avoid

639
00:28:17,880 --> 00:28:19,919
Speaker 1: getting behind the wheel of a car because you're nervous

640
00:28:19,960 --> 00:28:22,480
Speaker 1: about getting in an accident, right, And in the same way,

641
00:28:22,640 --> 00:28:25,959
Speaker 1: you can avoid stock investing because of the potential massive

642
00:28:25,960 --> 00:28:29,480
Speaker 1: declines in a day or a month long period. Either way,

643
00:28:29,720 --> 00:28:34,399
Speaker 1: you'll be worse off for prioritizing risk avoidance over taking thoughtful, intentional,

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00:28:34,720 --> 00:28:38,600
Speaker 1: purposeful risks, because truly you're risking so much more if

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00:28:38,640 --> 00:28:41,200
Speaker 1: you decide to play it safe, stay on the sidelines

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00:28:41,280 --> 00:28:43,520
Speaker 1: when it comes to living your life or putting your

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00:28:43,560 --> 00:28:45,880
Speaker 1: money in the stock market. If you avoid working out

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00:28:45,880 --> 00:28:49,480
Speaker 1: because of perceived risk, atrophy, atrophy is your greatest enemy.

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00:28:49,560 --> 00:28:51,640
Speaker 1: And if you keep your money in a savings account

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00:28:51,760 --> 00:28:54,880
Speaker 1: or even in cash on your mattress, which is worse right,

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00:28:55,280 --> 00:28:57,960
Speaker 1: that's a bigger risk than investing in the overall stock

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00:28:58,000 --> 00:29:01,480
Speaker 1: market because of the role in inflation place in eating

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00:29:01,520 --> 00:29:04,240
Speaker 1: away at your money over time. So Matt and I

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00:29:04,280 --> 00:29:07,640
Speaker 1: are not suggesting that you take unnecessary risks. The simple

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00:29:07,640 --> 00:29:10,840
Speaker 1: path is best. It has risks, but they're known risks,

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00:29:11,160 --> 00:29:13,440
Speaker 1: and so you can invest for the long term with

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00:29:13,520 --> 00:29:17,760
Speaker 1: confidence knowing that the supreme risk it's in action. That's right, buddy,

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00:29:17,800 --> 00:29:19,560
Speaker 1: and I think that's gonna be it for this episode.

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00:29:19,640 --> 00:29:22,080
Speaker 1: So everyone, thank you so much for listening. We really

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00:29:22,120 --> 00:29:24,400
Speaker 1: appreciate you. You can check out some show notes on

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00:29:24,400 --> 00:29:27,680
Speaker 1: our website ats how It's money dot com. Yeah, and

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00:29:27,720 --> 00:29:30,120
Speaker 1: if you have enjoyed the show, if you found the

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00:29:30,160 --> 00:29:32,800
Speaker 1: advice helpful, we would appreciate it. If you would consider

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00:29:32,920 --> 00:29:35,800
Speaker 1: leaving a review on Apple Podcasts and consider hitting the

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00:29:35,880 --> 00:29:38,600
Speaker 1: subscribe button while you're there too, And if you feel

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00:29:38,640 --> 00:29:40,200
Speaker 1: like Matt and I can do a better job. We

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00:29:40,240 --> 00:29:42,400
Speaker 1: would love to hear your feedback as well. You can

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00:29:42,440 --> 00:29:44,760
Speaker 1: send us a message by going to how to money

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00:29:44,800 --> 00:29:47,760
Speaker 1: dot com slash do better. That's right, man, So until

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00:29:47,840 --> 00:30:01,479
Speaker 1: next time, best friends out, Best friends out, bo