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So if a guy on the street asked you, "What does it take to be a King?” How would you answer? Morgan digs into this topic with depth and true consideration for the masculine soul. If you loved Wild at Heart, you will love "Becoming a King." Morgan Snyder is a grateful husband of over 20 years and a proud father of a wildly creative and witty daughter and a joyful and passionate son. He serves as a strategist, entrepreneur, teacher, writer, and speaker. His passion is to both be shaped by and shape the men and women who are shaping the kingdom of God. In 2010, he established BecomeGoodSoil, a fellowship of leaders whose global reach offers guidance for the narrow road of becoming the kind of person to whom God can confidently entrust the care of his kingdom. Morgan serves on the executive leadership team at Wild at Heart and has contended for the wholeheartedness of men and women alongside John and Stasi Eldredge for more than two decades. He has led over a decade of Become Good Soil Intensives and sold out Wild at Heart men’s events across the United States, United Kingdom, South Africa, and Australia. (www.becomegoodsoil.com) You can connect with Morgan @ https://www.becomegoodsoil.com/ You can purchase the book “Becoming a King" To hear Morgan’s podcast: https://www.becomegoodsoil.com/podcasts/ The biggest "thank you" you could give to the A New Kind of Man team is to share this episode with others on social media, and face and face. If this show has been helpful or insightful, please subscribe and leave a rating and review in iTunes. The biggest "thank you" you could give to the A New Kind of Man team is to share this episode with others on social media, and face and face. If this show has been helpful or insightful, please subscribe and leave a rating and review in iTunes. To get further connected within the New Kind of Man Community, here are some options: Follow “A New Kind of Man” on Facebook, Twitter, LinkedIn and Instagram. Share it with friends on your social media feeds. Join our private, men’s Facebook group, "New Man Crew.” This group of men is committed to changing the world beginning with themselves, their relationships, their communities, and the world! Big vision, we know. It starts with us. Go to www.beanewman.com to join the tribe or sign up for some coaching. Subscribe the to New Kind of Man Podcast on Youtube. Email Chad to get some personal coaching, chad@beanewman.com. A special thank you to Joseph McDade on allowing us to use his music: Follow his work here: https://www.instagram.com/josephmcdademusic/

After 49 Episodes, Mike and Larry get the chance to describe the F.I.R.E. movement and what it means to be financially independent.  They help you figure out your why of F.I. This is a must listen episode. Show transcription: Episode 29 Financial Independence, Retire Early.mp3   [00:00:00] Welcome to the Real Estate Marathon podcast. Your Guide in the Race to Financial Freedom. The Real Estate Investing and Sound Financial Practices. This podcast is for anyone interested in learning more about real estate, investing, personal finances and a new take on traditional retirement. Now here are your host, Larry B0 and Mike Moe.    [00:00:24] What's going on, everybody? Welcome to the Real Estate Marathon podcast. Your guide on the race to financial freedom through real estate investing in sound financial practices. My name is Mike Bell, one of the hosts of the show joined today, as always, Mr. Fisher.    [00:00:39] I'm doing well, Mike. I'm doing very well tonight.    [00:00:41] I know that you're extremely excited because this is an episode that you've been looking forward to for about forty nine episodes, I would think.    [00:00:50] Yes, I am super pumped for this episode. So what are we going to be talking about today, Mike? Well, man, after 50 plus episodes or so, we are finally going to dove deep into the financial independence. What is it? What does it mean? How do you get there? You know, when we started this, you know, we talked about, you know, obviously the name is a real estate marathon podcast for a reason. But when we started this, we talked a lot about, you know, having this be a really good blend of real estate investing and personal finance topics. You know, I think we've we've done a decent job, you know, going over the credit scores, going over a lot of that, you know, setting that strong financials, you know, foundation that we talk about and we delve deep into, you know, a handful of topics around real estate. And now after like I said, after almost 50 plus episodes, we're going to dove deep into financial independence.    [00:01:43] What it means, you know, we're doing five, one on one. So finding independence is one of the posts you put earlier in the podcast on social media was your Wi-Fi.    Larry [00:01:54] Yeah, I like that. And everybody has to have a reason for why they want financial independence. And once you discover that reason, it gives you the motivation to pursue it actively.    Larry [00:02:04] And that's what we're here to do. We're going to define it. And really deep dove into it. So I am surprised you can even sleep last night. We absolutely did.    [00:02:14] I'm omgpop man, and I'm glad we're finally getting around to this. You know, and it's it's a subject that we've we've touched on or it's a term, I should say, that we've used in a ton of episodes.    [00:02:23] So I'm glad we're finally getting to it being given it's a given it the justice it deserves. You really kind of dove deep. So we're going to you know, we're we're going to cover the definition. Obviously, we're in a covered the history of, you know, fights. The basic principle is how did she do it and resources to us to explore more and dove deeper on your own. So it's it's going to be a good episode. And I'm fun. And it's the first time that you and I have gotten to a riff. You're on our own. You know, we've had a ton of interviews, last handful of episodes.    [00:02:50] We haven't that. We've had a solo Soad an hour. It's just us on a topic. So be good to get back to that as well.    [00:02:56] Yeah. Yeah, I enjoy that a lot because I think we we offer a lot of good information, a lot of good material to the listeners and it's great to have the interviewers.    [00:03:06] But one of the things I enjoy hearing the most is my own voice and they have not heard enough of it lately.    [00:03:14] I like hear my own joke. So we'll see if I can throw a few of those in here.    [00:03:17] Oh, yeah, yeah. I loved some bad jokes myself. So. Yes, well, you want to start with the warm up so we can get Guiteau limber and loose ready to run this marathon.    [00:03:27] Let's do it, man. And this is going to be a marathon. It's going to be a get up. So here it is.    [00:03:31] It is. We're talking about the fire movement and fire stands for financial independence.    [00:03:36] Retire early. And the fight the fire movement is essentially the goal of planning for financial independence. So you have the option to retire early or at any time you would like to.    [00:03:48] Yeah. Yeah. It sits exactly what we're talking about today. And, you know, some people get to it kind of thrown off by the R E on that term, you know.    [00:03:58] So people some people like just the they don't like to retire early. Sometimes they retire term gives kind of a negative connotation or you're just gonna be, you know, sitting on the beach and sipping mai tais, which isn't necessarily the case for most people who reach financial independence. But either way, it's exactly, exactly what we're talking about today.    [00:04:18] And I've been known to take some liberties with the army of fire. You know, it could be a financial independence. Retiring is excellent. You know, any any of that kind of thing. Real estate. You know, I take liberties. What it actually does mean the retire early.    [00:04:33] So you know what? Where do you want to start? You know, we're we get really deep dove into it. You want to cover some of the history. Maybe the basic principles of it.    [00:04:43] Well, you know, so let's just expand a little bit more on on fire. So there's a couple of different terms that it can be referred to on a pretty regular basis.    [00:04:51] So fire is probably one of the most common ones which you already defined as that financial independence. Retire early fi or F5, financial independence, financial freedom, the hundred percenters, which is basically means 100 percent of your expenses is covered by passive income. But essentially all these things mean that saying that all mean that you can hundred ten, 11 percent cover your living expenses is with the income that is coming in off your passive portfolio, a passive investments, whatever. Maybe whether it's real estate, whether it's stocks, bonds, whatever your investments is. They all mean the same thing that you made such a cover, your living expenses and your main expenses for life.    [00:05:33] And I'm actually in this position right now with my passive income portfolio, with being able to cover all my expenses.    [00:05:41] I could retire right now and and not lose any ground in my financial livelihood. I guess you could say and this is very freeing. It gives you options. And that's one of the things that people seek is freedom, freedom, freedom. And the FI gives you that freedom. And when we actually in the last few episodes, we've been talking a lot about the financial retirement number, and the number is in an age which we defined in one of the last episodes. It's just a number of how much how many dollars you need to have monthly coming in. So you don't have to work that eight to five or nine to five full time grind the rat race, if you will.    [00:06:24] Yeah. And there you're probably the prime example of why that already doesn't necessarily always apply. So you got that fi- and it's almost like financial independence work optional.    [00:06:33] You're still working. But tomorrow you don't have to. Like that's kind of the options that this gives you. You know, it's kind of like I said, I think a handful of times on this, you know, this this show, I got a you know, a nine-to-five today that they currently enjoy. And I get to do some on energy. And, you know, I'm not one of those people that hates their job day in and day out. Right. But, you know, in five years, I don't know what's going to happen in five years. I think I use this exact term before, you know, my boss could come to me tomorrow and say, you're scrubbing toilets for the next week. You know, obviously in I.T. this could happen, but they could. And I you know, not being at financial independence, what do I do? I guess Guptill is right because I'm dependent on that paycheck right now. So financial independence work optional. You don't have to retire. You don't have to stop working. You don't have to go sit on the beach. But it gives you options. You know, I'm talking to one of these young guys at one of these investment events. The handful of months ago. And he kind of said the same thing is like, I love my job. So why do I care about financial independence?    [00:07:34] Don't care about, you know, that whole movement. It's like, man, things change real quick. And, you know, I think we're in a position right now currently in our current situation that we got going on here, mid 20s, Tony, where a lot of people would be better off. Have they had some, you know, passive income coming in?    [00:07:51] Yeah. Yeah. And you bring up a good point where we are with my my financial independence is it is work optional. And part of the reason, you know, people are saying, why?    [00:08:02] Why should I care about financial independence? I enjoy my 9 to 5. Well, financial independence. What that allows you to do it. It allows you to build wealth twice as fast, because if you've got dual income, you've got the the portfolio income, which is equal to or higher than what your regular paycheck is. And then you got that weekly paycheck coming in. You can actually get to, well, wealthy. You're rich even faster if you take that money and use it is as in investments or however you choose to use it. We choose real estate. But if you have that financial independence. No. On top of your regular income, that's just it's brings a lot of a lot of wealth to bear at your situation.    [00:08:49] So, yeah, it it's it's just a numbers game and it's just taken the numbers and extrapolating. I know, you know, I used to always hear, you know, one of the best things to do was, you know, you know, if you're married, you get two incomes. You should save 100 percent of one person's income and just live off the other one.    [00:09:04] Well, in essence, if you are five or if you build up a portfolio of, you know, whether it be rentals or whether it be stocks or bonds, that provides you enough pass, it could provide, you know, passive income to live on. Well, essentially, you have two incomes. You're just one hundred cent investing one and then you're living off the other. So it's almost doing the same thing, but better because you're building this investment portfolio.    [00:09:26] Yeah. Yeah. And like you said, if if my boss came to me today and said you've got a you've got to clean those toilets, I have the option of saying I really decided I didn't want to do that today.    [00:09:37] Yeah, that's. We'll get to that in the basic principles of fi. That's what we like to lovingly referred to as F-U money.    [00:09:44] F-U money, the toilet principle. And I'm still reeling over you quoting your own term, that thewall Wauchula theWall Financial. Linda Pence's financial independence work optional.    [00:09:56] I like Eminem. Yeah. His trademark that themwho coined to fuel this is a new thewall movement. There's some other other variations of FYE that I want to touch on real quick.    [00:10:08] And that's fact fire and lehne fire. And essentially these are just the, you know, lean fire is you have enough passive income coming in to cover your basic basic basic living expenses. So you can eat. You can. You could. Your mortgage, but you're not living the life you want to. It's not like you're going oh, it's not like you're traveling. You're not living the life even that you're living. Right now, you would have to make some significant cutbacks. But you wouldn't make it right. So that's lean fire. That fire is kind of the opposite. That where it's, you know, you have more than enough to do it. You know, I wouldn't say extravagantly, but you can travel. You can, you know, live above your means that you're even doing now. I'm completely on your passive income. So I moved in last year living large. Right. So I thought fire.    [00:10:53] Fire. I like it. That's that's the way to be. Get enough of that passive income. And there's not really much you you don't necessarily have to live large way. You could if the if the mood struck you.    [00:11:05] Yeah. Exactly. There's a kid. You can take trips or travel or you know, do whatever you wherever you may be. But you're not you're not living like pinching pennies.    [00:11:14] Right.    [00:11:14] So these are as you see with the pictures of the Lamborghinis and the private jets out there, they're definitely fat firing that straight away.    [00:11:21] And it's straight wealth, man. That's that's wealthy for sure. But yeah.    [00:11:26] So we actually move on or you want to dove in and anything else on those, you know, the FatFighters, when I think I think a lot of people are trying to get to the lean fire is when you first achieve financial independence, you have lean fire.    [00:11:40] You don't necessarily have to retire. But you can. And just get by. But like you said, that fat fires, what dual income that I'm working towards right now is.    [00:11:50] Yeah. Yes. But I'll give you a I guess I'll give you an example right now. So, you know, if you're somebody who on a regular day to day basis is living off about, say, let's say six grand a month and you take a look at all your expenses and you realize you can cut out, you know, you can cut your grocery bill, you cut gas down if you know, if you had to.    [00:12:08] And then you could you could live at, say, forty two hundred bucks a month. Your lean fire would be forty two hundred bucks a month. I mean, you could live. You could pay your bills. You wouldn't be you know, you wouldn't be going hungry, yoga, losing your house or going bankrupt.    [00:12:20] So it's very nice in that same example. You know, let's say 10 grand a month. Is that advice? You know, it's well, but beyond that, you know, that six grand that you're accustomed to, you can splurge a little bit on travel alert. You know, what have you per month and you're good to go there.    [00:12:37] And the fat fire, my goal, just so everybody knows, is that taken that month or two off and just just traveling for an entire couple months, you know, that's serious.    [00:12:47] Well, my hope is that fires.    [00:12:50] But we got to go. We've got to get a handful of these people. Oh, there's so many people that take these many retirements that I've listened to where, you know, that worked for three or five years.    [00:12:59] And they'll take six months out because they can because it built this this this machine. And that is their portfolio that can that can, you know, sustain them for more than six months.    [00:13:11] But they'll just do that as a mini retirement so they don't wait until they're, you know, fifty or fifty five years old. And you only need to wait till you're fully, you know, that fire. You can just do it. If you have a if you union fire and you have a little bit of an essay that you're comfortable with it, you take them in your retirement and MBNA.    [00:13:27] Yeah. And one of the terms and I think it was Jack Bosch on his episode said, was that forever cash? You know, it's an excellent concept. I love that forever cash flow out, you know. So you want to jump into the history and file. But where did the word that term get coined?    [00:13:45] Yeah. And we weren't willing to spend too much time here, man. But it did start better. It is known to have started right around in the mid 80s by a couple, Vicki, Robin and Joe Domínguez. They wrote a book.    [00:13:57] They wrote a book, not a bike, pirates' and bikes, but they wrote a book called Your Money Your Life. And the core concepts of this book is that most people go through life unknowingly trading their time for money. So essentially, you guys, everybody, most of the people here, they show up at a job every day and you spend eight, nine, 10 hours at that job and you're essentially trading now or you realize for certain things in your life. Basically, it's a trade off, right?    [00:14:24] Yeah. Yeah. And that's I mean, a lot of people when they and this is how I run my finances, you actually think to yourself when when you're looking to splurge on something or you're trying to decide whether something is in need or want.    [00:14:38] I generally calculate how much time I would have to spend to make the money to pay for that.    [00:14:45] So which is it? That's a great thing to do, man, because when you look at it like that, when you kind of put that that on its head as far as well that 400 at our and that's easy.    [00:14:54] I can I can handle that. I can make those payments. But when you kind of put that on its head and say, well, how many hours your life are you trading for that hour payment, well, then it kind of becomes real. There's a little bit more personal. And I wrote an example here and see if I can get it straight. This is a week or so ago. But so if you think about that 400 car payment, which is not I mean, that's pretty average for people these days, I'd say maybe that's even a little bit on the low end. But 400 bucks a month is your car. If been making bread around the national average of $50000 a year, you know, after taxes, you always gotta come. You know, factory taxes, because when you think about it, you make 50 grand a year. Sure. But you are paying in taxes and all that money. And then when you are buying something like this car, you're also paying taxes on it. So how much you truly walking away with? So let's say after taxes, you are going to forty three hundred bucks a year. So a 40 hour work week say that you work out of 40 hour work week, you're averaging 20 bucks an hour or twenty dollars and 70 cents an hour you're walking away with. It would take you 19 hours. Nineteen point three hours a month to trade for that car. So essentially, you think you work Monday, Tuesday and half of Wednesday and the first week of every month. That is your time that you traded for that car. And when you think about it like that, especially when you start thinking about, you know, this mortgage payment of two, three, four, five thousand dollars a month, you're trading how many hours or weeks or days year your life for that essentially every month. And when it adds up, you want to make sure that you're trading your time for things that actually mattered and helps put things in perspective a little bit.    [00:16:29] It does. It does. In one of the things I kind of throw a little bit of a subjective part of that as well. You know, I look at it like, do I buy a car that gives me nineteen point three, two hours worth of enjoyment for that?    [00:16:43] Because it's it's a input output kind of thing. So I'm putting my nineteen point three, two hours. But if I get 50 hours worth of enjoyment on my will, say like a Corbat or whatever I decided to buy, it becomes worth it. But if if you're buying, you know, I don't know what kind of little tiny, you know, card doesn't go very fast and you get maybe an hour and a half of enjoyment. And it's just for getting you back and forth to work. Then, you know, it might not be a tradeoff, but you definitely do need a car.    [00:17:16] So, yeah. But so you bring up a good point that in the whole I think the whole reasoning behind looking at it like this is it's looking at what am I spending money on? And does it truly bring value to be it like I am not a frugal person. So that's why I went at a time when we talk about budgeting, when we talk about debt. Like I see those cars. I'm like, yeah, I want that. So, like, I have to look at that and say, does that. Is that worth trading my time for it? And some of it does splurging on those nice things. It's worth it to me. And some of it isn't. And that's that's why looking at it and taking a true look at your expenses and you're spending. I was able to cut a bunch of expenses just by, you know, in hindsight thinking of how much value I got out of those expenses and shift those into the things that I actually got value. I think that's the power I find that really makes you look at where's your money going and does it align with your values and what you find beneficial and you like you enjoy, you know, getting time and spending time on those things that you spend your money on.    [00:18:17] And I think this is a good time for the credit score. KING To jump on a different side note, you know that that example you had would cost you nineteen point three, two hours a month.    [00:18:28] Imagine if you had like a four hundred credit score that could number could easily jump to 30 hours or 30 hours a month and you're paying more for your credit. So, you know, the higher your credit score, the lower the amount of hours that you have to cover purchases. So, yeah.    [00:18:46] And you know what I like about the credit score. And you know that I don't like the credit score very much. But I do like the credit score.    [00:18:52] The fact that you can you can maintain and you can you can get a good credit score without spending a lot of money. Like I always feel people and you know, you've heard my complaints about the credit score that I don't think it's a very good indication of how financial savvy you charge because you're able to borrow a bunch of money and pay it back. And that doesn't mean you're good with your money, but you can do it without spending money. And you can you can build that up without going and racking it into debt. Like like we talked about, you can get a credit card and you can put your you know, if you're smart about it, you can just put your next year and your money that you would have spent anyways on that card to get those points into build up that credit and not go into more debt than you weren't expecting to. Yeah.    [00:19:35] And that's definitely another benefit. So but it looks like you have listed a few few different resources to help people deal with FI. I mean, the first one you've got listed here is the Mr. Money Mustache Blog 2011 net. Yeah. Yeah.    [00:19:51] So we went we went a little off track of the history. You know, it started with Vicki Robin and Joe Dominguez with that book, Your Money, Your Life. And then it really exploded. 2011/2012 with with the blog that you you mentioned, Mr. Money Mustache. It's a lot of people's kind of first foray into, you know, financial independence or what it might actually mean to, you know, go this unconventional route and be able to retire early. So there's an article that was one of his most famous one that's called The Shockingly Simple Math Behind Early Retirement, which we linked to here and we can link to in the show notes. It breaks down in a unbelievably easy way to understand how you can retire at 30, at 35, at 40 if you truly want to. It kind of breaks down that it is just a numbers game and makes it super easy for people to comprehend.    [00:20:45] Retirement just. Well, math problem. And yeah, you know, math and realize it tells you exactly what you need how to get there.    [00:20:53] And once you get there, the numbers work out. It's it's glorious. People lie.    [00:20:58] Numbers don't lie.    [00:21:01] That's how it goes. So, yeah.    [00:21:03] If you guys haven't heard Mr. Money Mustache, you know, he bragged he was one of the really the pioneers of bringing, you know, the financial independence, financial freedom fighter or whatever the heck you want to call it to a little bit more of a mainstream with his blog. And then there's a handful of other ones that choose F choose F, I guess, which is phenomenal podcasts. They also got a book I A Blueprint to Financial Independence. Remember correctly. And then the bigger pockets, money, podcasts. All of these are really the core players in the financial independence education sector. I would say, you know, out there and have done a ton of bringing all these principles and these concepts to the mainstream.    [00:21:44] Yeah. And the nice thing about all these blogs and podcasts is they basically put a put a term and a face on what I was already doing.    [00:21:54] It took me 15 years to get to the point where I was financially secure and and had my credit score and everything fixed. And I started listening to these guys. I'm like, you know, why are you do that? And I didn't realize there was a rule to cover it.    [00:22:08] This is what, you know, you'll be even before where obviously this guy really popular in 2011, 2012 started to take off. You know, obviously there are people doing it and practicing this. But I think what you know, what that goes to say is there are still ways that you can even improve even further. There's not a lot of these are just minor, minor tweaks that over the long run really, really, really make a difference to these different like tax strategies that these different savings tactics and things like air investment strategies that really they seem I knew in the in the in the real time here, but, you know, expand that over a five or seven or eight year investing term. And the numbers show how much of a difference this can make. And it is really tactical ways about going about your finances.    [00:22:59] And once you start getting getting a handle on everything, it generally falls into place. You have to you have to get this stuff set the the basics before you can run, you know, when and where you can run.    [00:23:12] Yeah, 100 percent.    [00:23:13] And there is there's almost these different levels of as you kind of dove down into the financial independence rabbit hole, there's these different levels of, I guess, educate educators and a levels of education. So if you think about, you know, Dave Ramsey is one that I know a lot of people mention in is a is one that I started out with. You know, I started out listening to it. You know, it kind of led me to the next one, the next one to the next one. And Dave Ramsey, you'll see a lot of people in the financial independence community, starting with Dave Ramsey. He's got super good principles. He teaches a lot of the basic money concepts. But when you look at it, some of it is just too black-And-White. Like he's got this like, you know, you hate debt. Right. Like, he just absolutely can can't stand debt and says you shouldn't buy real estate unless unless you can buy a cash, which I mean, and leverage is one of the amazing tools of real estate and amazing tools and investments if done right. So I think you'll find people start with like the Dave Ramsey or some of the other basics and then graduate once they learn those. They kind of. They graduate to some other concepts of different educators and the financial independence world.    [00:24:25] Now, I see Dave Ramsey as being the person that gives you a healthy respect for the power that the negative aspects of debt. And then once you learn to have a healthy respect for debt and you use it wisely, then a debt can be a huge tool in your tool belt.    [00:24:41] Yeah. And let's be honest, like you think about like you listen to the Dave Ramsey podcast and you listen to the people that call in. You know, he's got these millionaires that call in and it'll work.    [00:24:51] If you want to. And believe me, I was on this train at first. You know, when I when I started listening to this and when I started getting into this movement, you know, worked twenty five years and spend your super frugal and don't spend a lot of money and save as much as you can into mutual funds. And in twenty five years, you'll be a millionaire.    [00:25:09] That will work. One hundred percent that will work. The problem is, I don't want to do it in twenty five years. I don't want to do it in like five years. So there are others tactics and other strategies for it. You know, those goals. So it all comes back to that. So it's a it's a good start. But then I think people kind of graduate from there.    [00:25:27] Yeah. Twenty five years is a very long time to get to be a millionaire. Bye bye. Yeah. Scrimping and saving pennies and things.    [00:25:35] Yeah. And it's like I don't want to pinch pennies or twenty five years.    [00:25:38] I just want to do the same page with that, Mike. You know, it's a lot of things I don't want to work for sixty five years. For ten years of fun before. That it has a way.    [00:25:48] So that's why we're here trying to help as many people as we can to get that. Get the heck. Yeah. 25 year millionaire do it.    [00:25:56] I mean, there's studies. I mean, obviously. So a lot of the financial independence blogs, podcasts, things like that. It all depends on your savings rate, which we'll talk about in a little bit here. But there are case studies, people doing it in two or three years as case studies of people doing it in nine or 10 years. I think on average, people can get to this five point anywhere from five to 10 years, depending on how much you make, depending on your savings rate and really depending on how crazy are about it. You know, some people don't mind being super, super frugal and cutting back down to the bare bone and saving, you know, 60 percent, 70 percent or 80 percent of income. Other people, you know, totally cool will do 20, 30 percent and just add a couple years under, you know, the time it take you to get there. And either approach is fine. It's just kind of what fits you type thing.    [00:26:43] I tell everybody, you took me forty nine years to get to financial independence. It was forty seven years of trial and error. And I wasn't doing that correctly.    [00:26:53] Yeah.    [00:26:53] And so if you can take that and if you can use some of that education that's out there, you know, just so much education out there, you might go to cut down that learning curve more.    [00:27:04] Yeah. I'm hoping to condense my forty seven years of trial and error and help these folks in in listening to the podcast do it in a couple years, so.    [00:27:12] Oh, my gosh. Yeah. Man, you. Yeah. I can't even tell you how many resources are out there, podcasts and books. And, you know, obviously that's that can be an issue, too, because it's almost overwhelming how much stuff is out there.    [00:27:25] And it's just it's like it's just like the health industry and some of the stuff contradict each other. Some of the you know, this this guru says X and Scooter says Y. And there's really no easy way to navigate that other than you've got a headache. Go out there and explore and take what works for you and discard the rest and keep keep going and figure out what works for you.    [00:27:45] So, you know, and you guys are all listening to my favorite podcast resource. So keep that up with that.    [00:27:54] The real estate marathon is my favorite resource. That's right. It's a dad joke. So a lot of people miss him.    [00:28:05] So you can jump into the basic five principles and rules of thumb.    [00:28:09] Yeah. Let's do it.    [00:28:10] So the 4 percent rule, the 4 percent rule is essentially you need a hammer. So essentially you 4 percent of your nest egg you can live on essentially forever. So if you have a million dollars, you take out 4 percent of that. That's what, $40000. Right. So you could essentially take out four percent of that million dollars. And there is a 97 percent chance, likelihood that that principle will last or that that nest egg will last forever. It's based on what the called the Trinity studies, which is this massive study of basically of what you can take out and with based on the returns in the whole other factors, the likelihood of it lasting forever, essentially. You never having it touch that principle. So based on that, the four percent rule, it's kind of been this rule of thumb being, you know, once you reach that's that 4 percent rule, you're essentially for. So my expenses are $40000 a year or, you know, adjusted for taxes. Then you're a little over a million dollars nest egg. If I'm doing stocks or bonds or whatever that it's that stock portfolio, then that would be your number.    [00:29:22] Yeah. And as everybody knows, it's one of the one of the fears of people that they're they're going to outlive their money. And that's not a good retirement. If you end up having enough money to cover five years and you live, you know, twenty five years of retirement, you're you're broke in five years. Then what do you do?    [00:29:40] Yeah. Right. Yep. The other way to do it is just take your expenses that you need. So if you need $40000 a year to live. Times it by twenty five. It's the same thing, but it's just like anything. It's a rule of thumb. So it does not. You know, there are there are more conservative folks out there who might who would say it's probably more like three and a half percent and would also say that it largely depends on what happens in the market. The first handful of years, if you were Tirina, because you you know, if you're a tired day one and you start drying on your portfolio in the market immediately takes a dove, say 20 percent, I don't know. Like it just didn't stop 25 percent, then that way you can't take that 4 percent off that original balance. You have to then adjust for what the principle is. Sorry. What's your your total portfolio is and take 4 percent off that new. Right. Right. So in sequence return risk essentially is what they refer to. That is what it is a good rule of thumb, at least while you're traveling on the road to fi and as you're trying to. The goal to shoot for is that 4 percent rule.    [00:30:49] Yep, yep. And then the next thing you've got there is the savings rate. Now, that's the amount of savings that you need to retire. Financial independence, is that what that means?    [00:31:00] No, it's it's essentially. What percentage of your income are you saving today? So if you're making said one hundred thousand dollars a year and you're saving ten thousand dollars a year, whether it be to invest in stocks or to invest in real estate, you know, your savings rate is 10 percent.    [00:31:17] We've talked on the show a few times where we think, you know, in normal in a society, you hear about somebody saving 10 percent of their income and they get that boy.    [00:31:26] And everybody is super pumped in the firewall world. You know, it's more like 40 or 50 percent. It is usually the average. People are saving upwards of 40, 50, 60, sometimes 70, 80 percent of their income just in investing that tire on it that they're saving and then just living on that 10 or 20 or 30 percent of their income. You know, that's a little bit extreme depending on how much money you make. But I think 50 percent is kind of that that nice balance, at least in my my perspective.    [00:31:55] To get to from a savings rate on the savings rate, like you said, if you can save 50 percent.    [00:32:00] That's where for me personally with the portfolio, that's where my portfolio comes in because I make as much in my portfolios as my wife and I do working full time. So we we live off of our full time income and then basically save 50 percent of our income, which is the portfolio income. We put that right in the savings. So that's going to help effectively get us to being millionaire status a lot sooner.    [00:32:25] So you're essentially saving a 100 percent and you're able to 100 percent of your working income. You were able to save because of that, because of that rental income that you had coming in.    [00:32:36] Yeah. And then once we get to a level where we can invest even more into another expanding their portfolio, another duplex or try to flekser multifamily, then that just keeps increasing the amount. So at some point we're going to be saving 200 percent of our of our income.    [00:32:54] Yeah. Yeah, exactly. And definitely powerful, powerful, powerful thing.    [00:32:59] Now, what's this next item on their mind? Inefficiencies in taxes, spending and investments wasn't necessarily like a rule of thumb.    [00:33:07] This is more of a kind of a general guiding principle.    [00:33:10] You know, when you get into it, like I said with earlier, with the Dave Ramsey is the world has got really super good basic basic financial literacy. Right. That's the foundation. And then financial the five principles, the fire principles typically are a level up from that.    [00:33:29] And they they a lot of times all kinds of shit like that on those minor, minor efficiency's that really make a big difference in the end. A lot of my around taxes.    [00:33:39] So how can you max out your tax tax deferred savings, things like your phone fallen case, things like HSA or MAX, maximize tax benefits, do things like real estate.    [00:33:51] And then on the I guess on the withdrawal, you know, maximizing your tax burden by doing things like Rothenberg's and Ladders. You make it backdoor Roth contributions and things like that.    [00:34:03] Now, these are kind of more advanced financial principles that you can look into and get details on, but it really comes down to expanding or making those those improvements on the margins. So, you know, you got your basics and then fight typically goes above and beyond. And it makes those minor adjustments, like you said, seem minor, but make a huge difference in the this category.    [00:34:28] Here is it reminds me of the saying that somebody I heard a long time ago and I don't remember where I heard it's from.    [00:34:34] Are we going to I'm probably gonna busher. It might have been Robert Kiyosaki and rich dad. Poor dad. But he said it's not about how much money you make, it's about how much money you keep. Yeah, and that actually plays right into the efficiency's in tax. And his taxes and spending because you you actually if you can reduce your spending and reduce your tax burden, you're going to be able to keep more of your money regardless of how much money you make. You can use that to get to be millionaire status or even, you know, even if you're just shooting for fi doesn't necessarily have to be millionaire status. But you know that personally is what I'm shooting for.    [00:35:08] Yeah. I mean, when you eat it makes it so, so worth it to dove into this and figure out how you can how you can truly make get the most bang for your buck. You know, somebody wants that. And again, it's kind of the same thing you just said as a quote there somewhere. I can't remember who said as I apologize, I'm not giving credit.    [00:35:25] But there's one line in the tax code that says you have to pay taxes on all your income. And then there's like thirty thousand lines in the tax code that gives you loopholes to not pay taxes on your income. So, you know, you say what you will about the wealth, the avoiding taxes, but they use the tax code to their benefit.    [00:35:43] You know, if you could do the same. Should so figure out where you can save or where you can reduce your tax burden. Get yourself educated so you can you can get your goals a lot faster and keep more of your money that you make.    [00:35:57] Yeah. Yeah, that's and that's actually a very powerful thing. Thirty thousand versus 1. So. Yeah, and how but when.    [00:36:03] And that's only one thing that says you got to pay out pay taxes.    [00:36:07] Every other line in the tax code is loopholes on how to not pay taxes. So why the heck once you take advantage of that as a real estate man, as you and I know the tax the tax benefits from owning real estate. Q Huge, huge. You know, there's there's doctors and lawyers who dumped some money into real estate, you know, not even caring about the performance just because it can completely simply wipe out a lot of their tax liability and all the income limit.    [00:36:33] So, yeah. And if you it's hard to tax season, you're now investing in real estate, right?    [00:36:40] Yeah. I don't look forward to tax season because of the paperwork, but I do. I'm with you.    [00:36:44] I'm a numbers guy. I'll sit there all day and add my wealth.    [00:36:48] That's probably a whole another whole topic around. Don't wait until last minute to do your tax paperwork, your expenses for your business and stuff like like I sometimes might have said that 48 hour I called the 48 hour tax marathon that you don't really know of.    [00:37:05] All right. Now, I'm curious, this one I I've heard the term before, but I've never really delved too far into it. What exactly are you meaning by stealth wealth, stealth wealth, mail.    [00:37:16] This is a millionaire next door and this is it. This is those people who can essentially buy your Tesla with cash if they wanted to. But don't they choose? Not that they choose to drive a five or six year old Camry or Kearl or whatever, you know, whatever your car choices. But the point is, is that they could spend a ton of money. And they're very, very wealthy, but they don't because they spend money on what they value and because they they've been able to get their wealth by not spending things on flashy things that don't make sense. So the stealth wealth community is one that that is they're they're interesting bunch, but essentially they're bunch of millionaires. You don't look like millionaires. They look like your average person who looks like your average working class person.    [00:38:00] So these are the folks that you see every now and then.    [00:38:03] You read an article about it where people say they were surprised that they were able to leave a 10 million dollar endowment fund to their college. Right. You know, they passed away. They left all this money and everybody's like they were just normal people. They cut coupons and they did, you know, they did whatever they had to do. And nobody knew that they were millionaires.    [00:38:22] Yeah. Yep, exactly. And I got to I mean, I got a I won't say I'm might with this camp, like I completely understand and respect the selfless community in a. Who's the guy who is a millionaire next door. Can't remember the name of that book. Yeah. Cameron. It's because I'm. I know I like my Teslas. I like my flashy stuff. But no, it's it's totally it's definitely a movement out there in a community out there that is very proud of what they do and the more power to them.    [00:38:53] And I clearly like my camper and my Corvette that I'm looking to try and have fun. Let me buy.    [00:39:00] Yeah, but it's the spending money on what makes it what makes you happy. It will make sense for you.    [00:39:05] Yeah. Well, and I was telling somebody that I'm trying to talk my way for.    [00:39:09] No, let me get a Corvette. Nice. We were playing a chess game of this, trying to get this Corvette out of the dealership and you'd be surprised if you start beating your wife in a chess game of getting the Corvette dealership, how quickly it turns into hardball playing hardball.    [00:39:25] So it was a firm. No, after that. So what you got to do, man, you just need to buy a pickup, one more property and half your tenants pay for your Corvette. One of the that thing and like five, six, seven hundred bucks a month, all you gotta do is find a couple of properties, a cash flow that ammo and go right there.    [00:39:42] I actually already I already started with that argument, had the properties all picked out and everything so nice to the network. But that's that my friend is is that is a principle.    [00:39:55] It wasn't a key Sakhi thing was that we're okay. So essentially have your your assets paid for your liabilities. Huge. Huge. Basic principle of investing. Right. So if you base if you want that Corvette, don't go work your 9 to 5 and use your your after tax dollars to buy that Corvette. And B car poor essentially. Right. Go buy an asset that pays you that amount of money and then that funds your fund, that buys your Corvette. You know what happens when that Corvette is paid off in five years? Your assets still paying you money and you still have that.    [00:40:33] So you go from having a Corvette bought for you to get in the race. Exactly. Or something else. Gomez, I got something else in mind. Let's say your assets paid for your liabilities when I had never. Have a lack of imagination. So I think of it. You. And the next term, they're the next principal, the F-U money. It's my fast favorite f you money, financial university money.    [00:41:00] That's why they say using your son. No, we won't. Because we we check that little box that says we're, you know, a clean, family friendly episode for our right as listeners. We want one explain this one too much and do so. But this is kind of the point before Lehne Fi that you have if enough money where if that boss comes in and says, look, you scrubbing toilets for the next six months because a sorry, that doesn't work for me. What a it changes the game. It changes the perspective that you can.    [00:41:28] You're in a position of power.    [00:41:29] You know, there's so many people who have written about this and about how they've enabled to, you know, after they got into this step, may have had the courage to go negotiate with their employer for a better work life balance or for more money for a better position, because just worried about where the employer says yesterday. Because you have that money that you can say, well, you know, that doesn't work for me. I respectfully decline and see you later because you have that money, whether it's six to eight to nine months expenses or, you know, the exact dollar amount is all personal. But it's whatever that that amount of money that you feel comfortable living off of for space with, you don't have a job.    [00:42:07] Yeah. I call this the forget your money because you get you and your money. Because when I leave work, I'm going to forget all about you because I can afford to live a mile.    [00:42:18] This is the type of money in the situations that we are in right now.    [00:42:22] Like I said, we're recording this March, April 20, when you get this little thing called COBRA 19 going on right now. And it's causing a lot of anxiety with people like we've talked about before, a lot of people don't have that for on their books that that stat that they say, you know, most Americans can't take a $400 expense without diving into credit or, you know, dip in it, you know, borrowing the money. What happens right now when hundreds and hundreds of millions of people are getting laid off from their job are now uncertain? You know, this isn't necessarily the F you money, but that same type of money that concept comes in where, you know, if you lose your job, can you survive for six, eight months with expenses? You have that rainy day fund built up. And I think, you know, I hope, you know, people who don't use this as an opportunity to realize how important it is and how much much stress that could take off. Yeah.    [00:43:16] Yeah. And it's times like this when I'm I'm glad we're able to save one hundred percent of our income through the portfolio, because that's just. Money will fall back on. So I can sit here and talk to you with the podcast without worrying. Yeah.    [00:43:32] Yeah. It's. That's that's a rare situation to be in.    [00:43:36] And I found I think it's a it's it's a good one man and I think this hopefully will well implore people to start looking at their finances and start looking at some alternative options, you know, saving the 10 percent. We'll get you there in 30 years, probably.    [00:43:52] But, you know, you really got to make some more aggressive moves in order to to get there any sooner. Really? To to put yourself in a better spot.    [00:44:01] Yeah. Well, next is the burning question that I have for you, Mike. How do you cheat, achieve my financial independence? How do you go about doing that?    [00:44:10] Well, this is kind of a loaded question, because it's it's it's a little tongue in cheek because it's kind of like, how do you be successful? There's a, I don't know, a million different ways that you could you could chuck an answer out for that. There's probably gonna be new ways invented every day and height, yet there is kind of the same thing as five, but the basics of fi are the same, which I think we've covered a couple times on this on this show in various episodes. Here's what you spend, you know, whatever you spend, and then here's what you make, whatever you makes it take, whatever you make, minus what you spend. And the point is, Tate, that needs to be as big as a number as possible and wisely invest the difference. So if I make $5000 a month and I spend $3000 a month, I get two thousand dollars surplus that I can invest in wisely with over a long period of time. The point is, the fastest way to achieve high is widening that gap, lowering those expenses, increasing that income, whichever you want to focus on, both want to focus on one either way, widening that gap and then wisely investing that difference over time consistently. So maybe you get A's and you go up to seven grand a month and maybe cut your expenses back a little bit more. But on twenty five months, it's just widening that gap and being smart with the difference.    [00:45:31] Yeah. And it's it's not rocket science. It's just a math problem. Yeah. You want to get there? The solution would be the biggest number you can and it's a subtraction problem.    [00:45:41] So you want the left side of it to be as big as possible. And the. Right side of it to be as little as possible.    [00:45:47] Yeah. And you know, it's comes down to it's not not sexy. There's a thousand different ways to do it. I mean, you could literally do that and just throw it in stocks that, you know, index funds, whatever you may.    [00:45:57] And you'll get there, you know, in the past. And the more you save the bad, you'll get there. You could put it in real estate and you can, in some people's opinion, get there faster. Like like what we think. But it's just making that that gap as big as possible and then investing in that that the difference. Wisely and then taking advantage of the margins or taking advantage of your tax.    [00:46:18] You're you're more strategic tax. Either ways to go about reducing your tax burden in reducing your fees on your at your best friend strategy and things like that. It's a bunch of different ways that you can you can kind of optimize at the margins, as I say, with with some of those more those higher rate, not higher those more advanced strategies.    [00:46:43] Yeah. Your your tax strategy planning is something that you really need to look at probably before you need it.    [00:46:53] I mean, you should start planning way early because if you get to tax season and you think to yourself, I could've used another three or four, ten thousand dollars and deductions all, it's too late at that point because every first or last years when you should have been planning that unless you're a corporation, then you may have may go a different calendar year.    [00:47:14] But for the most part, for you privately, the thirty first of December is the last time we get a chance to do it short of maybe investing in an I.R.A. and that's a..    [00:47:24] And even if you do it, it you know, even if you do it at the very end of the year, there's so much there's not as much as you can do.    [00:47:30] You want it like going to you with a really good tax strategists who will say, you know, throughout the year hear the different things, they should do it. Here's the investments you should do to reduce your tax burden. I guess taxes, I think there's a really daunting, early, intimidated people. And I know that I felt that same way when I started looking into it. But really, it's really amazing how you can use some of these strategies to reduce the taxes that you pay to you in the end.    [00:47:56] In the end of this, you know, especially some of these tax advantaged accounts that you can invest through. It's just it's really remarkable once you start diving into it.    [00:48:05] So as it is and I know investors that use their their portfolios to pay for every aspect of their life and a lot of it legally can be written off. You know, it's just the tax the tax advantages, real estate are just limitless.    [00:48:24] Yeah.    [00:48:24] And even if, you know, in real estate, you still want to be smart about your taxes and you still want to figure out, you know, what can you invest in that reduces your taxable income? What are different ways that you reduce your taxable income? So you're you're keeping most your money now.    [00:48:39] Now, if I want to learn more than then, just as a podcast, what do you think we should do? I notice you got a list of some books here.    [00:48:48] Do it. Yeah. And there is no shortage of them. And I I didn't even know.    [00:48:52] I almost didn't want to make the list because I mean, you're inevitably going to leave some of the big hitters and the key ones off. But I think it give us it makes sense to to the people at least some place to start if they want to dig in more. So, I mean, we've got a bunch on the list now. We've got Rich Dad poured out of it by Robert Kiyosaki, which I think is I mean, bar none. It is one of the biggest ones that always gets brought up. When you talk to people about, you know, what changed your mind would change your life, your financial trajectory.    [00:49:21] And a lot of people refer back to the rich dad for that book from Robert Kiyosaki.    [00:49:25] And that changed my life when I read it, because it makes you look at a different way, your finances. What exactly an asset is.    [00:49:34] He's defines assets a lot differently than we've been taught through school and through our parents. And it's definitely worth a read. And I've noticed like I bought twenty five thirty copies of Rich and Poor that they were they were on sale going on and I'll hand it out to people one. And the funny thing is I say it either resonates with you and you go and buy every one of his books and read read voraciously or you just don't get. You just don't like it or doesn't. Does that strike a chord with you? So, I mean, it's it's 50 50. You know, you can either be something that's going to change your life or you just go, what's the what's the all the hype about?    [00:50:13] And I think more often than not, people are all right. It's definitely on the former of those two because it's time and, you know, it's time tested. It's one of the most popular personal finance books ever written. When was it written? Early 90s. Maybe it's been off for lying is a long time and it's always been at the top of the list for personal finance. So it's definitely a time tested bestseller for sure. And then, you know, I'm going to skip around a little bit. Maybe a little maybe a little bit of a out there statement, but I think the rich and poor that of our generation is the book by Scott Trenchcoats set for your set for life.    [00:50:55] And this is one tenth of what you mentioned on buying 30 copies and given it out. I think this people need to buy these for any graduating senior from high school. Anybody graduate college? Any any young adult could benefit massively by the principles that are taught in this book. Set for life by a trash.    [00:51:17] Yeah, yeah, definitely. You know, your money or your life. Vicki, Robin and Joe, you you basically touched on that and started the fire more.    [00:51:26] My back in the 90s are back in the 80s, actually. So that was that was pre, you know, the kind of computer stuff we got going on now. Pre technology, man. No, everybody checks and everything back then.    [00:51:41] Yeah. Back in the ghetto there's the good old days.    [00:51:43] The good old days. You know we were riding around in horse and buggy easier, you know, the wagon trains.    [00:51:51] But you know and J.L. Collins with the simple path to wealth. And one of my personal favorites is The Honeybee by Jake Stand's Piano and Geno Barbaro. We yeah. Podcast episode with those guys on that. And it just touched on basically how to create the multiple streams of income, which is so powerful in the world today.    [00:52:13] Yeah. You know, I love this one because it breaks down these principles in such the easy way, easy to understand way. So it's that's the honeybee. Baiji extends the unknown. You know, Barbara, we didn't like you said, we didn't interview with a handful of episodes back. Memorable what episode number that was. Twenty, twenty, episode 20. About creating multiple streams of income. Yeah. Easy, easy. Read another one that should definitely be handed out set to anybody who is interested in learning more about this. Definitely be a life changer. So yeah.    [00:52:45] And then we've got some some blogs and some podcasts.    [00:52:49] Yeah. Yeah. We'll just run down the list is what is we're getting kind along here. But from a podcast perspective, you know, choose f I mean those guys do a phenomenal job of going over.    [00:53:00] I mean they're on a couple hundred episodes now, but you can go back all the way to the beginnings and listen to a lot of the basics around financial independence and kind of follow along with their journey. Mad faintest. This guy is, if you like, numbers. This is the dude to talk to. Here he writes some of these articles. It's a little bit harder to follow. I would say. But it is numbers, numbers, numbers. He is a guy who's reading these thirty thousand lines, the tax code, figuring out how to best take advantage of it. And it gives these case studies of how he's done a lot of the things he's talked about. So Mad Scientist is a good podcast and blog to talk about as well. Bigger pockets, money, I guess, is another good one. And then Dave Ramsey, MINIFY podcast. It's got a lot of really, really good basic financial literacy.    [00:53:47] Yeah. You know, I started reading the tax code, too. I think I'm on line five or seven, something like that. You get a little bit of it. Yeah. Well we take it in fits and spurts. So they go on the blogs. Mr. Money Mustache.    [00:54:05] I follow his blog, The Financial Samurai. Those. Yeah. Yeah. That's a great one. I love that one. And the physician on fire. That's. Yup. You know, they're all great blogs. They give you a ton of information. So you should check those out.    [00:54:20] And this is just a starting point. Like I said, it was I was debating on whether or not we'd make a list here because, you know, this so many people in the space right now.    [00:54:27] So many people in this area that inevitably leave some of the really, really good ones out. But, you know, you're linked to you jump from one to the other to the other to the other other end by timing. I mean, we are one that you've never heard of before. But Scott, you know, they all got good information out there now.    [00:54:45] Yeah. And the last thing we got there is our Wi-Fi. Mike, that's what motivates you and I.    [00:54:53] Yeah. I think this is important.    [00:54:55] Not necessarily that anybody cares about our Wi-Fi, but it's important to have Wi-Fi in it. It's kind of fun to say, but like, why do you want financial independence? Why do you want freedom? What do you do in it for a nine? If you if you have that, then these some of these concepts, these things that you had to sacrifice, because let's be honest, it be a lot easier. Just go rack up credit card debt and go, you know, go, you know, live the life you want. Go travel and go party and buy the fancy cars when you can't afford it versus waiting, you know, a handful years till you can. But see, if you're making similar sacrifices now, it's it's easier to do so if you have a Y.    [00:55:38] Yeah. Yeah. And like you said, there are options and freedom. That's one of the big ones.    [00:55:44] Seems to be a running theme options, man. It's literally all about options, like when his options ever been a bad thing.    [00:55:52] Never. Never.    [00:55:53] You know, it's, you know, no idea what's what's going to happen in five to seven or eight years or even two years. So like you options and you can kind of control more of it.    [00:56:04] I do know one instance where option too many options are a bad thing. Let's hear it. Starbucks. I mean, I love Starbucks, but come on. You know that. Let's go back to decaf and regular.    [00:56:17] No, man, I like my fancy coffee mcare. But coffee, though, you know, being from Minnesota. That's kind of my my my thing there. But you know, Amanda. Yeah. We posted a while back on Instagram.    [00:56:30] And we're like, what's your Wi-Fi? And, you know, I originally because it was what I was doing at the time, as you know, because books and a/c and the deck was, you know, shouldn't just be for Saturday ability to do that. You know, any day that week. Right. Is we want to spend more time with you. You know, the people in you know, the things that you love to do. So, yeah, you know, I never was.    [00:56:52] Well, I mean, that's that short of doing the call to action. You know, I got the cool down.    [00:56:58] You want to do kind of a quick recap and I do.    [00:57:03] Let's see if we can if we can recap this. We covered a lot. I think we're we're a little over an hour, you know, some outlets yourself.    [00:57:09] Arsalan, final good byes today. I literally cannot wrap it up with my options. Options are good.    [00:57:21] Let's call that action that way. Issue we get the Wi-Fi like figure out what's your Wi-Fi has made sure that.    [00:57:26] Yeah, it's well understood and well documented. Why you're traveling down this path. That is a little bit unconventional. It might might be a little bit more difficult in your in your daily life than your average life.    [00:57:41] And I think you should write it down and put it like on your bathroom mirror or some place you're gonna see it every single day. And remind yourself what you're working so hard.    [00:57:48] George, techie Asian apps to keep that front center. Now, so while that's everything I got, all I got in my moments, I wrap her up. Thank you, guys. We've seen another episode of the Real Estate Marathon podcast and we'll see you next time. Take care, guys.    [00:58:07] Thanks for listening to the Real Estate Marathon podcast. If you found value in any of the content from this show, consider supporting us in the following ways. Subscribe to the Real Estate Marathon podcast. Leave a rating and review. 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