Even Smart People Make These Massive Money Mistakes

[00:02] with money. Some of the biggest financial mistakes we see are made by very intelligent people, like doctors, engineers, lawyers, and even tech executives. >> Hey Brian, I am so excited because today

[00:14] we're going to break down five money mistakes that smart people make and we're going to break down the reasons why even very intelligent people tend to >> So, I'm Brian, he's Bo, and we're financial advisors here to help you

[00:27] that >> let's dive right in.

[00:39] more intelligent you are, the better you ought to be making financial decisions, but often times that's not the case. That's not what we see on a day-in and day-out basis. >> Well, I think it's it's because

[00:52] intelligence, knowledge, they're only parts of the equation. A lot of this is, all the behavioral stuff and all the traps that we as humans fall into. >> So, what we want to do is put together a list of mistakes that we've seen people

[01:06] make, even highly intelligent, well-intentioned people, so that maybe you won't fall into some of these same mistakes. And the first one, Brian, I think this is one uh that often intelligent people fall into and this

[01:19] is, you know, some people grow out of this as they age, but some people actually never grow out of this. And that very first mistake is overconfidence in investing. It's this idea that I have more control over the

[01:33] I really have. >> Yeah, it's not uncommon that if you intelligence has gotten you ahead of the curve, so you think that applies to the

[01:45] wonderful world of personal finance. So, you think that you're perfect with picking winning stocks, but the reality is is that you know, what goes up doesn't mean it's always going up. It doesn't mean just because you picked one

[01:58] winning company that you found the secret sauce to getting ahead. It is just one of those things where we have found out that people who even if you do pick the perfect stock, you're going to fall into the trap of you probably sell

[02:10] when it goes up 200, 300%. You're not going to be there when it's up 20,000%. You know, when you hit the next Apple or you hit the next Tesla or Nvidia, you're

[02:22] going to take your winnings and then you're going to be really sad when it you got off the train too soon. >> Or maybe you're that smart person says, stocks, of course not. Who Who could possibly do that?" What I can do is I

[02:35] can recognize the economic cycles. I can see when the boom is coming, I can see when the bust is coming. I actually have the ability to time the market. So, I'm going to try to time my moves into equities and out of equities so that I

[02:48] the downside. >> Yeah, and by the way, we wanted to kind there's cuz there's all kind of data out there and we figured we'd compile this for you. If you're actually timing the market versus being in the market, look

[03:01] at what happens if you just stayed in the market. The period we're looking at here is from 1988 all the way through 2023. stayed in the market, your investment, and it's $10,000 investment, would be

[03:14] worth close to $420,000. >> That's unbelievable. 10,000 turning into >> But listen to this. If you just miss By the way, I always like to give the the way, I always like to give the context. This is going to be over 12,775

[03:29] >> But if you just miss five days, all of a sudden that $417,995 turns into $264,000. If you miss the best 10 days, all of a

[03:41] sudden that $417,000 turns into $191,000. If you miss the best 30 days, only a month, all of a sudden it's dropped down to $71,000, and if you miss the best 50 days, that's

[03:56] little less than $32,000. Did you hear how we gutted this thing? That we took out 92% of the gain just by missing 50 of the days. these days, odds are if you're trying to time it, you're probably going to miss

[04:11] some of them cuz equity markets recover in a V shape. So, if you're trying to do this, we believe that it's a losing proposition. Another losing proposition that very intelligent people fall into is making very speculative bets. Maybe

[04:25] options trading or advanced strategies, or maybe you're now with the new technology looking at prediction markets or sports betting. We're here to tell you that's not the way to actually build wealth. If you don't believe us, look at

[04:40] American Gaming Association that in 2024, for every $100 that was bet on the sports book, the average expected loss was $9. Meaning

[04:52] right out of the gate, you put $100 at risk, you're expecting to lose $9 of that. If the house has the edge, you are not going to win. >> think about it in terms of that 9% of your over 9% is the expected loss.

[05:09] That's the haircut you're going to take just according to the American Gaming Association. Guys, think of how much we run a show where we tell you why we love index funds over managed investors is because if you can

[05:22] pay pennies for the management versus paying 1 and 1/2% or 1% for the active management fund, if we told you that we have a better system that helps you avoid taking a 9% haircut, you wouldn't get near it. But yet, here's the

[05:37] overconfidence of the typical sports better is that they think that they have a better way to make money even though the system is counting on them to lose. prevent yourself from falling into this? Well, at the very onset, you ought to

[05:51] There's nothing wrong with being intelligent. There's nothing wrong with being a higher IQ, but that doesn't mean that you're an oracle. It doesn't mean that you can accurately predict the future. And if you are just a retail

[06:05] normal investor, you should find solace in the fact that over the last 15 years, in the fact that over the last 15 years, according to SPIVA, 90% of active US large cap managers underperformed the S&P 500. People who do this for a living

[06:20] were unable to go out and beat the market. So, if you can't have confidence in the professionals, you should recognize you likely have a limit to your ability to go out there and outperform any stated or given

[06:33] >> I mean, full stop. Y'all Did y'all hear that? I think it's worth repeating that professional investors who are paid handsomely to manage money, 90% of them underperformed over the long term just buying the S&P 500. So, this

[06:49] is why we like to draw attention to cuz this is something you'll get ahead of if you just invest the boring way. This is what we're always telling people. Always be buying. If you just understand index investing can be your friend. Consistent

[07:03] behavior doing it early and often is going to get you ahead. You do not have >> So, Brian, mistake number one was overconfidence. I know what to do. I Mistake number two is sort of the flip side of that coin. This is analysis

[07:17] paralysis. This is I know all of the variables. I know all the different options, but I can't decide which direction to go. Do I go left or do I go >> Well, and this one plays out several different ways. A lot of really smart

[07:30] research something. They're going to be comparing their options. They're going to be trying to time. And we've seen this timing. Even very smart people, how many times have we had people tell us, "Hey, when the stock market started

[07:42] "Hey, when the stock market started going down in 2008 or 2022, you know, look back and go, 'Yeah, that was a rough time to invest.'" We have a lot of people who say, "I got out. I was the smart one." The problem is is that even

[07:56] when you're smart, you have to hit it twice. The second one is when you get analysis paralysis from people who did they wanted to feel better about not

[08:08] being there to lose the money, and they just can't figure out how to get back in there. So, the the delay can actually gut their performance in the long run. gut their performance in the long run. >> of the matter is delayed investing leads

[08:20] to mistiming the market, and mistiming the market has a huge cost. And if you don't believe us, let's set up a case study for you. Let's take two investors, Average Allen and Manny the Mutant. They're both going to start with a $0

[08:32] invest, and they're both going to save just enough to max out their Roth IRAs. month. Allen delays investing, and he says, 35 years old, and I'm going to do that over the course of 30 years." And we're

[08:48] going to assume that Allen can earn 8% annualized rate of return. Manny, on the other hand, is going to invest the exact same amount, $625 a month, maxing out a Roth. He's going to start at age 25 though. So, 10 years

[09:01] earlier than Allen, and he's also going to do it for just 30 years. So, Manny is only going to save and invest up until age 55, and we're going to assume that he, too, earns an 8% annualized rate of return. So, if you think about that,

[09:15] Brian, that's what? $625 a month over 12 months a year over 30 >> It's going to be a little over 220 It's right at $225,000. A little over $200,000. >> So, Allen invests $225,000.

[09:29] By the time he gets to age 65, saving and investing from 35 to 65, he's turned his $225,000 into $931,000. awesome. But when you look at Manny, who did not

[09:44] delay, who did not procrastinate investing the same amount of money over the same number of months, Manny actually ends up by age 65 with

[09:56] Manny actually ends up by age 65 with over $2 million in his portfolio. can, you know, really think about the visual here because now that you see the result, we have one that has over $2 million versus one that's getting close

[10:10] to having their first million dollars. They have the exact same amount of money in this, $225,000 each. They even have the same period that they were on the planet. The difference is is the 10 years. For for

[10:22] average Alan, he wanted to YOLO. I know nobody says that since 2014 or whatever year Drake came out with the song, but it's still a lot of people out there telling you in the world, don't go ahead and enjoy your life in your 20s. Go live

[10:36] invest later when you get in your 30s and 40s. Meanwhile, Manny the Mutant, he took the last 10 years off. You know, he took his foot off the accelerator essentially. So, you get the choice of when you get to use the money and the

[10:52] power of your time. And this is why when we show up the slide of the power of starting early, realize, this is back to my Morrow was sitting in that high school classroom that everyone of us if we save

[11:05] $100 a month, we'd be a millionaire. Well, he was pretty close because for a 20-year-old, they only have to save $95 a month to reach millionaire status by the time they retire. For a 30-year-old, they have to save $340

[11:19] a month. Only because they delayed. So, it's four times harder than for the 20-year-old. If you think about somebody who delays until they're 40, now instead of saving $95 a month like the 20-year-old, they have to save $1,052

[11:32] a month. It is ten times harder. So, don't let somebody tell you, "Hey, sleep on today." We just want you to start doing something. I don't care if it's something because it will change your life.

[11:46] >> can do it right, you can do it live, but if you do it wrong, you got to do it long. And if you don't believe us, go out to moneyguy.com/resources. Check out our wealth multiplier tool that shows you, based on your age, where

[11:59] you are right now today, what can your dollars turn into? If you are young, if you have time on your side, it does not take a lot. So, what do you do? How do you think through avoiding analysis paralysis? We've already beat this down.

[12:15] Just do something. It might be ten dollars, twenty dollars, one percent, two percent, three percent. If you can just do a small amount, that small >> than Let's put actually some numbers to this. We have a If you just go to

[12:28] cuz we're trying to load you up with all kind of free tools to get you motivated. This is one you can print out and even put it on the fridge, put it next to morning, but literally, what can one

[12:41] percent more do for you? It will change your life. You do this early enough, it might give you ten per- close to ten percent more in retirement just by giving one percent. Your entire journey gets so much easier. Get to work.

[12:55] >> Another thing that you can do to avoid Ask the question, okay, what do I do? How do I do? What do I And really uh paralyzing yourself, is keep it simple. Recognize that for all investors, but certainly for early investors, low-cost,

[13:10] tax-efficient index funds are a great solution. If you're somebody out there trying to figure out what to buy, buy a low-cost index fund. And even better, if you If all you know is, okay, I'm I'm 20 years old and I want to retire in 45

[13:25] years, I'm 65, target retirement index funds are a great solution. You only have to answer two questions. How much can I save and when do I think I'll need the money? And the actual investment will do the hard work for you. So, you

[13:38] don't have to analyze anything. You just put your money to work and let it grow >> big thing cuz I know on the slide it just says target date funds. Remember, we are big fans of index target retirement funds because they harness

[13:51] all the power of index funds with the low cost tax efficiency, but it's just now they add the asset allocation and the glide path to take your aggressive get older. >> All right, bro. We're talking about

[14:05] mistakes that highly intelligent or smart people make. And this one I think is interesting. Mistake number three is ignoring the boring basics. And I think that smart people, intelligent people, people with a higher IQ,

[14:19] people with a higher IQ, they either they either forget or they choose not to remember or they get bored with the idea of I just have to do something very, very simple for a very, very long time. And if I can do

[14:31] something very simple for very long time, odds are it's going to work out got a high octane brain, you you want to flex this thing. You want to show off that your brain processes better than others and you find out that the secret

[14:46] to this is just being consistent and buying something as simple as an index that because you're like, well, but I don't I don't want to be like everybody else. But can can I go ahead and tell you you don't have to hunt for the

[14:59] complexity is because the part the magic sauce is is that even though it's that simple, it doesn't mean it's easy because nobody actually does it, guys. brain take you in a bad direction is because

[15:14] just set it forget it and doing the easy behavior, the consistency is the thing that most people skip out on. >> Yeah, and so what do they end up doing start to chasing advanced strategies like man,

[15:27] to I'm going to watch the charts and I'm going to be a technical analyst. I'm right time to buy and when's the right time to sell? Or maybe I'm so smart I recognize okay, I can buy a position, I can go sell covered calls or I can go

[15:42] buy protective puts to keep me where I need to be. Or maybe it's not even the want to the stock market. I'm going to go start investing in real estate. I'm going to go figure out how to leverage my money, use a small amount of money,

[15:56] buy a big asset. I'm going to do that, but I do it prematurely before I have a sound financial foundation in place. If you're doing those things first before you get a solid financial foundation, before you do the simple boring stuff,

[16:13] I'd argue that you're losing the plot. >> also here's the thing that I hate about the system. Every one of these things, whether it's day trading, options, or somebody who's out there who's pumping and selling systems that supposedly

[16:26] their way is going to put you ahead. Now, the reality is most of these people selling you the system. If their system really was that good, they would actually use that arbitrage to build that Warren Buffett type success. They

[16:40] more profitable to make you the product than it is to actually use their money and grow the system. That ought to be your first red flag. But what I don't like is that it distracts you from your most powerful resource, which is your

[16:53] component of time and doing the basic behavior. And if you do these type of activities, you're going to skip the most powerful thing, which is you try to bypass the sacrifice or the discipline that actually creates your fundamental

[17:09] >> Yeah, we recognize and maybe it's that highly intelligent people get bored or maybe it's just they're looking for a shortcut. They want to find the easy button. They want to do the thing really fast and have it now and I'm smart

[17:22] If you fall in that trap, you are forgetting that there are generally three ingredients to wealth creation. They're all required. You have to have live on less than I make, I'm going to put my money to work, and I'm going to

[17:34] do the simple, boring, mundane stuff that's a high probability success. I'm creating margin or money. I'm going to do that over a specific period of time, likely not a short period of time, and if I can do that, I'm going to end up in

[17:50] a better place. But I think smart people, intelligent people, try to talk themselves out of that. Well, that's that must be for everyone else. I don't fast way. I'm going to do it the shortcut way. And what you end up doing

[18:03] >> And and and that's why, look, I know we There really is a better way to do money. You got to follow the Foo. I know, look, in the beginning, you're going to be like, "Steps one and four of

[18:16] covered or building the emergency reserves, that feels boring. It feels doing." But this is going to be what protects you from desperate decisions when bad things happen in life, because that stuff does happen. I also see

[18:31] people who get caught up in levered type strategies where even doing crazy thing with credit cards, doing zero balance transfers. Don't fall into those traps just because you think you're better than everybody else with money. There

[18:45] really is follow what to do with your next dollar with our financial order of operations. Yes, in the beginning it might feel slow, but if you stack these deliberate behaviors on top of each other, it's going to start growing

[18:57] kicks in. >> And if you would like your very own operations, go to moneyguy.com/resources, and laminate it yourself. It's not actually laminated when you go get it,

[19:12] but you can do that. You can have your very own copy and it will guide you through exactly what to do with your next dollar. And as you're doing that, of operations, as you're making the steps you're supposed to make, that will

[19:26] likely help prevent you from mistake number four, which we see all the time with well with highly intelligent smart people, is lifestyle inflation. >> Yeah, this is one. I mean, you can we could label this

[19:39] goal post cuz it's not uncommon you start making good money and what made you happy in the past you you start looking at your house and be like, "Hey, I could probably afford a nicer house." Or you look at the car that's in your

[19:53] "You know, if I wanted people to really see what I've kind of success I've had with my high income, I could drive a nicer car." But just because you can doesn't mean you always should. It's because there's a lot of people and if

[20:08] you want to don't fall into this trap. According to Goldman Sachs, according to According to Goldman Sachs, according to a report, 40% of those making over what I think a lot of us would consider rich, but 40% of those people in rich

[20:23] income high income situations are still living paycheck to paycheck. I remember >> Mhm. >> and they talked about somebody who makes a million dollars and how quickly it goes away and they described between the

[20:36] daycare, the Ferrari, and all the the exotic luxury car and the condo. Guys, you can be in control of where every dollar goes. Figure out very early what makes you happy. Don't let the

[20:50] consumption society we live in distract you from living your best life. with having a nicer car. There's nothing wrong with having a nicer home, with going on nicer vacations. But when you do that at the detriment or

[21:04] to sacrifice your future self, that's when you get into problems cuz a lot of incomes, they'll say something like, "Okay, well, if I make this much money, should be able to afford anything." And even worse than that, I think that a lot

[21:18] of times, wherever we are in our socio-economic status, we always want to "Okay, well, I know that I'm right here, but look at that person. Look at what neighborhood they live in. Look at their house. Look at their vacations." If you

[21:33] people, it's going to be very, very difficult for you to find peace and contentment where you are. It's exactly what Brian said. Figure out what are those things that you love. What are the things that you value, and move towards

[21:46] those things, not towards buying things that you don't need to impress people whose opinions do not matter. >> And then I want to caution you to justifying your lifestyle creep. You have that big brain on your on your

[21:59] shoulders, and because it's high high-powered, you're you're smart with coming up with justifications for things. How often have we heard people >> Oh, yeah, yeah. It's not lifestyle creep. I'm just I'm a car guy.

[22:11] >> Hey, but you know, I value experiences. Like, we all value experiences, but you know, and or how about this house is probably just it's a holder of value. It's a better investment. There are all kind of things that I see people do to

[22:25] justify the decision they're making. Don't fall into the mental trap of just because your brain has come up with some good excuses. Understand what the why is. What's the powerful tool of money doing for you and your future self?

[22:40] Don't get distracted just because this high-octane thing, the voice in your head, told you a little fib. >> Again, there's nothing wrong with your >> Again, there's nothing wrong with your lifestyle increasing. Nicer house, nicer

[22:52] vacation, nicer car, nicer clothes. Whatever that thing is, that's okay, so you're supposed to do. And so, what are some ways that you can avoid the bad type of lifestyle creep? Well, one thing is as your income increases, as your

[23:09] paycheck gets bigger, make sure your savings rate follow suit. Far too often we'll see someone who will say, "Okay, I started saving started maxing out my Roth IRA and I'm so excited I did $7,500 and then the income goes up and they

[23:22] they oh, I maxed out the thing I never went up. Make sure that the more money you make, the more money you save, the more that you're putting away because the more money you make and the higher your lifestyle becomes, the higher the

[23:36] lifestyle later in life. So, you want to make sure you're saving accordingly for big brain probably creates a lot of justification or distractions, I like a good system. And that's why we we always talk about like the 60/40 rule of when

[23:51] you get a pay raise, how about let 60% go towards additional savings and investments and 40% goes towards lifestyle. That way it's a win-win because you're getting more and more money in your army of dollar bills, but

[24:05] you're also letting the healthy side of lifestyle creep kind of come in because you are increasing and taking the reward for where you are in life. You just not living a fake life. Remember, it's better to reap be rich than to just look

[24:20] >> And then another thing that you can do is aim for a 25% savings rate. If you can save 25% of your gross income for your future self, for financial independence, you get to spend freely. You get to not have any guilt around the

[24:35] nicer car, nicer house, nicer vacation because you're doing that thing that of people never get there. I think the average savings rate right now, Brian, is somewhere around like 14.7% and I think like almost 5% of that made

[24:49] up of the employer match. The average American isn't saving 25%. I think it's because they don't recognize just how valuable 25% can be. up, I would encourage you, look, we know that the typical American did not start

[25:03] saving and investing until they were past 30 years of age. And if you go to our website, moneyguy.com/resources, we actually have a great deliverable that'll tell you exactly, based upon when you want to retire, what your

[25:15] current at age is, you do the cross cross-reference on those two numbers on this chart, and you'll see for a 30-year-old, it's right around 25%. >> But for you guys who are younger, say you listen to this and you're 26 years

[25:27] of age, please go to our website and you're going to find out, hey, you don't have to be at 25% yet. You might be able to save at a number lower than that. If you're a person who's listening to this and you're 33 years of age, you're going

[25:40] to find out you need to save a little bit more than 25%. Don't guess on this. moneyguy.com/resources, and see specifically what your number is so you can act accordingly. >> And then don't fall into the trap of

[25:53] trying to save after you've spent the whole month. Do it the other way. Save first and then spend. If you can set up automatic contributions, automatic Roth contributions, automatic taxable account contributions, you will have that dollar

[26:10] going where it's supposed to go before you ever even see it. And if you can do that, it limits your ability to screw it getting those dollars working for you. So, the more you can automate your

[26:23] savings, the more you can automate your system, the higher your likelihood of success will be moving forward. >> Now, if I was good with this content creation thing, I would have probably started the show saying, we saved number

[26:35] >> Okay. >> We should have said that. I should have kept more retention. >> Editing team, cut that at the beginning >> it right now is that mistake number five is

[26:47] optimizing the small stuff. Another way to say this is majoring in the minors. >> Yeah, smart people are so inclined to spend tons of mental energy and mental

[26:59] calories on realistically what are likely low impact decisions. Oh, because can spin my wheels, because I can write this formula, I'm going to do that and

[27:11] it's going to allow me to optimize. Not having the ability to zoom out and recognize, oh wow, maybe this thing that I can figure out is it actually worth me trying to spend the time figuring out? >> it's probably the overconfidence of

[27:25] I don't do anything that's wasteful. Let me give you some examples so you'll kind of see if you resemble this. All of these financial mutants or quasi foolish type financial mutants that are going out there and chasing these the

[27:40] the smallest of small credit card reward differences. I mean, is there really that big of a difference between getting 2 and 1/2% versus 3%? Or is there a big enough difference with chasing the 0% transfers that you can get the money?

[27:54] credit card rewards. >> How about savings account yields? Oh, okay, right right now my savings account's paying 3.5, but if I open up this new one and I move all my money over, I get 3.55.

[28:06] Is that really optimizing? Are you really moving yourself into a better position or might that time be better spent figuring, okay, how can I increase increase my skill set? How can I increase my shovel? How can I save more

[28:20] money instead of figuring out these small nibbling around the edges things >> let's talk about how we avoid it. And then I'm going to bring this back to you might resemble this and be like, I knew these guys weren't good with money.

[28:33] going to tell you, no, we believe in maximizing all of these things, but we set up the simple way to do it to get the maximum impact. But the first thing the maximum impact. But the first thing you can do to avoid this is to focus on

[28:46] the high impact areas of your life. We're talking about, guys, focus on how big your shovel is. What did you major in in college? What's your income coming in? What's your savings and investment rate? That's going to be really a driver

[28:58] of a lot of your success. And then all those big consumption decisions, Bo. The house you live in, the cars you drive, how you structured your debt, the insurances going to keep you from making

[29:10] desperate decisions cuz you got it covered. And then of course, I wouldn't attention to how you're structuring your life and the taxes you're paying. to avoid this is you have to do a

[29:23] personal internal audit to figure out what is your time worth. Yes, you might be able to spend 35 minutes finding the perfect coupon code to get the free shipping plus the 10% off. But if what

[29:36] that's doing is saving you $9, was that $9 money well spent or could you have used that time somewhere else? If you don't have a full understanding of what your time is worth, you're likely going

[29:50] to make inefficient, ineffective, and suboptimal decisions with how you use >> This next one kind of hurt because I fell into this trap earlier in my career and in my entrepreneurial life is be beware of productive procrastination.

[30:04] busy doing nothing. Um I've shared with you guys many times when I first started my first company, I had the most pristine financial statements. I was so proud as a CPA that I was just going into my bookkeeping

[30:18] program and making sure everything was accounted for perfectly and reconciled. should have been going out there and getting more business. Sure. I should this. Maybe you're not an entrepreneur. Maybe it's You think about, hey, do I

[30:31] talked to my employer about what my career path is going to be? Don't let these little distractions keep you from having the big picture things and create your success. >> What I love about these five mistakes

[30:46] are these five mistakes that highly intelligent, very sophisticated people make. And what's interesting is even those people make these mistakes. But when it comes to building wealth, what we found both in our experience as well

[30:59] as with the clients with whom we work is that you don't have to be a genius. You have to be a prodigy. You don't have to do anything remarkably unique or special in order to build wealth. Building wealth is available to everyone if you

[31:15] can follow the simple rules and not fall into these traps. If you don't believe us, every year we do an annual survey of our clients and say, "Hey, how did you go about building your wealth? How did you go What was the thing that you did

[31:28] to become wealthy? Were you Did you sell some business or do you have some like unique skill set like you're an artist or a musician or maybe you just climbed the corporate ladder? 76% of our clients, three out of four

[31:42] That's not the thing that I did. Here's what I did. I saved and I invested. And I saved and I invested. And I saved and I invested. It was not about outsmarting the market, outsmarting the system, outsmarting anything. It was about

[31:56] following tried and true principles to build wealth the slow and steady way." >> Yeah, I mean that is It really is that consistent behaviors. And sometimes, you know, you you see this in spiritual studies and other things. Sometimes

[32:10] the hardest times. >> Mhm. >> Because you're you're given so much that you get distracted, you fall into mental traps, you have all kind of things out there. Guys, we're we're here to tell

[32:22] you we've walked the walk. We've helped a gazillion people work through how do you live your best life? Cuz really there tool Money is nothing more than a tool. And if you haven't figured out where the happiness, where fulfillment

[32:36] actually lies or how you get the most out of the time we're on this planet, that's exactly what we do. That's why we believe in the Abundance Cycle is we literally there is not been a better time to be on the planet because

[32:50] education is available to you. We are giving this stuff literally away. We created a content channel in 2006 that our whole purpose was to have hearts of educators to give it away to you to live your best life. Simple apply

[33:05] this, grow, create your wealth. But when you reach the level of success that your simple life has become complex, we're going to leave the porch light on the country. I think it's just Vermont. >> Mhm. That's the only one we're missing.

[33:18] >> So we're in all 49 states. We'd love to be in Vermont as well, but we'd love for life resembles it it's gotten complicated, reach out to us. moneyguy.com/becomeaclient. Like I said, we'll leave the porch light

[33:31] on. I'm your host Brian joined by Mr. Bo, MoneyGuy team. Bo, MoneyGuy team. Out.