Episode #103 - How to GET RICH QUICKER!

Today hosts Braden Cheek, Brian Duck and Joel Thompson discuss the practical steps that beginning investors can take to increase their revenue and get involved in their first deal!

All right. What is up and welcome back. And today we have an awesome show because it's something, you know, it's, it's common, right? And, and the show topic is, is super simple. We planned it uh really far in advance and it's, it's called How To Get Rich Quick. So this it seems crazy. But how do, how do you get Rich Quick? Yeah, and the the thing is we all talked and the, the answer is you can't, you can't get rich quick. Nope. Nope. Thanks guys. That's it. But anyway, obviously you can get rich. We have a show but before we get into the show lots happening, right? We had another massive bank failure. They've been bailed out downward pressure on the treasuries, right? Because people are, are scared of cash, they're they're scared, you know, they wanted to get into something real cash just disappears from banks these days. They're of banks, they're not scared of cash. Sure. Scared of banks. But where else do you put your cash? Nobody likes to keep, I mean, when you're talking about large amounts of cash, if you're not keeping it a bank, where do you put it you have to buy an asset, right. So that's putting downward treasury on or downward pressure.

I can't even talk guys that's putting downward pressure on the treasuries. So if you can find a lender who's doing a loan on a swap over a treasury and set of prime, obviously, that's gonna be way more in your favor right now. So go out and find those lenders that are doing it. We've worked with several that have done that. Um It's working in our, our benefit right now. We also had another rate increase. Uh We don't have to beat that to death. I know we've been talking about it forever. But another quarter point hike on uh the Federal Reserve or, or prime. So we'll see how that pans out and now we can, we can kind of get into the show. Well, real quick. Another point is we still have opportunities for investors to get in on our Princeton deal development. And then we also uh stay tuned. We've got a couple of others launching too uh here in the, in the near future. Yeah, guys, very, very full pipeline. As you know, the the opportunities and the deals are exclusive to the investor list. It, it sounds fancy exclusive, but really all you have to do is sign up on our website. So the criterion fund dot com, you can hit a button that says join our investor list and then boom, you'll get all the emails like Joel said, we're finishing up um uh six pad site development in Princeton and we have a very full pipeline.

So as soon as this one uh fills up and closes out, we'll launch the next one and we have one more after that um already done, which is is kind of weird. We, we normally don't like just backfill the pipeline with fully done stuff. Usually not that quick. Are we? Yeah, moving and shaking. Andy's Andy's a mover and a shaker, that's for sure. Anyway, so, topic for today. Yeah. Awesome topic, right. So, the biggest thing we want to talk about and that's why we did this spoof in the beginning is, is there's really no way to get rich quick, right? If you're gonna do it, right. And you're gonna do it, you know, outside of, like becoming a crypto millionaire. Yeah. It, it's a long process. Right? And, and most people are starting out with, uh, you know, most people start with nothing. Yeah, nothing. The, the biggest lump sum is like a tax return or, or, you know, a COVID money or, or, you know, something like that. And that's a great example. How many people are waiting for their tax return? They, they want that $2000 tax return so they can spend it. Well, so we were talking and I, uh, I assume most people watch the podcast, uh, because of Brian's good looks, but also because they want to earn more money and we're helping people do it through, through commercial real estate.

But I think the majority of people that listen to the podcast, they don't have the money to invest with us even at the $25,000 minimum. Yeah. Sure. Not 100,000. And so we just thought it'd be cool to, to talk about guys. What if we were giving advice on how to get rich quick or quicker? What would we tell people? What are some, some bedrock money ideas that we would say? Look, this is the advice we would give you to get you from point. A maybe not having anything to invest to putting $100,000 a deal with us. How do we get you there? And that's what we, we came up with this list. I don't know if you like it but we're gonna hit, hit you with it. Hit him. All right, Brian, first one, the first one is to spend less than you make. Seems seems pretty obvious, right? And I'm gonna add to it. Spend dramatically less than you make. I'm gonna add to it again. Eat shit. And which, which means not, don't die. Yeah, but like ramen noodles, five minute rice. We like we're talking about driving a Honda like I, I, I drove a Honda Accord for years. There's nothing wrong driving a Honda Accord.

I, I tried to buy a new Honda Accord but they didn't make a New B six. Anyway, enough about Hondas, you need to act like you're making no money and live on no money. So you earn more than you're spending. I'm gonna say it again. You have to earn more than you spend by spending less than you earn and dramatically. So guys, so what you're gonna try to do is let yourself off the hook and say, well, I'm, I'm saving 5 10% of my, my income. Well, ok, that's great. But we're challenging you to do even more. 2030% of your income. And most people, they just don't want to give up their lifestyle uh in order to set themselves up uh for future gain on, on saving and spending less. I think a lot of people have a mindset. A lot of people don't, they just spend everything. They got. Some other people say, well, I'm maxing out or I'm contributing to my 401k or my R Ira and then that gets me set up for retirement and I'll spend everything else. Right. And that, that won't do it either. Here's a thought experiment for you is most people don't save enough, uh or they don't spend uh less than they make because they just assume that they're gonna work forever.

Ok. But what if I told you that you cannot work a day after the age of 35 everything you save until your 35th birthday, you have to live on for the rest of your life, then what would you do? People would behave very differently, very differently. And that's what we're trying to get you guys to understand uh and implement in your lives right now is let's put plan together for you to quit work. And we, and in order to do that, you've got to get totally serious about uh frugality. Uh not for frugality's sake. But in order to have the lifestyle that you want down the road and in, including that you have to stop buying liabilities, stop buying stuff that you don't need and definitely never buy a liability, uh, on payment plan or on a credit card or, uh, or on a loan. You know, that, that, to me we're gonna talk about compounding interest here in a second and how that is the eighth wonder of the world and how powerful it is. But it is powerful in the other direction. If you're, you're paying interest on money you don't have in order to have a thing that you don't even want.

It decreases in value. Yeah, that's going down in value or maybe worthless as soon as you buy it. Yeah. So liability, right is something that does not pay you. It doesn't pay you and nine times out of 10 it's going down in value, right? Like that, that's a liability. It's not paying you. So you, you bought this thing and it doesn't give you any more money in return. The money machine is broke. You, you put the money in and it just doesn't give any money out. And every now and then it may suck some more money back into this, this thing. And it gets to the point where most people end up having so many liabilities that you see that run into the tiniest financial problem. And then they're, they're like hacking off an arm, you know, selling this thing and, and losing all kinds of money because it, it dropped in value. And you're only realizing that loss when you sell it, when you have to, then you have to realize that loss which sucks. And the liabilities can be, uh, pretty much anything on a payment plan. It can be cars, it can be your, even your house. Uh, it can be a liability because it, it, it costs you money every month to live there. It can be student debt. Uh, you know, it can be credit card debt, anything that's sucking money out of you every month or that you paid and is worthless.

So we want to stay away from all that. So hold on. So it's, it's kind of an order, right? So we're, we're, we're not spending everything we make to have some left over and we're not buying liability. So if you have liabilities with that extra money, you're saving from step one, we're gonna pay off and get rid of those liabilities right now. We're just, we're just gonna do it if you're serious. If you're, if you're tired, if you want it bad enough, you're gonna spend less money and you're gonna get rid of those liabilities. So it stops sucking up additional cash and we're gonna start looking for those opportunities where it's gonna give us cash back. So that's, that's next. But you gotta get rid of the liabilities first. You can't proceed until you go to this step. Ok. Next one. And it's controversial. Uh But I'm gonna say it saving uh makes you poor and you're like, well, Joel, you just told me to spend less than I make or to save money. I agree. Uh We did. And so when you are saving money, if you put that money in an account, uh and you leave it there for five years or 10 years, is that money worth more or less than when you put it in? Yeah, let's talk about when like Brian graduated college.

If his parents gave him a $5000 like congrats, son, graduating college, you $5000 you go, you go start your life and he gives him a little slap in the ass and sends him on his way, right? If you put that $5000 in a savings account back then he probably could have bought, you know, a, a car or a down payment on a car, you know, that would, that would, that would have gone a long way. Now, you might have been able to buy a house back back then I could have bought a house. Ok. Boom. So today what did $5000 get you? That gets you like a nice, it's a nice fridge. That's a nice washer and dryer combo. You're not driving shit with 5000. If I just stuck that 5000 away and still had, you know, maybe $5000 in there. I couldn't buy anything. So the house back then. Seriously. Or, yeah, washer and dryer now. So let's, let's flip that on its head, right. We took that same $5000 right. Smack in the ass. Sent you on your way. Good luck, son. And you invested it in like Walmart Stock or, or pick any stock, right? Like I'm not gonna say the major ones pick any, anything that's still around today. If you invested in it back then $5000 that would be so much money.

I imagine the compounding if it was making even 15% a year, that 5015% a year, it, I don't know what it'd be a couple million probably. Yeah. And so the whole point of the exercise is to get you to understand that saving isn't, isn't the end all you can save the money. But here's how saving goes for most people is. They, they spend less than they make and they put this in a savings account and that money is over there. And it builds up and their eyes get really big and they're like, man, 5000. So I'm sitting over there, man, 10,000, sitting over there and they start planning the vacation. They start saying, man, I, I need a new car. I love that new patty, you know. And so they immediately begin to think of how to spend the savings. I love the, that, that's a problem. All right. And another thing that happens is if it's sitting in a savings account, what happens is life will happen and you'll, your car will break down or, you know, you'll, you'll need the money for something and you'll, you'll use it as an excuse to get to the savings. So not only is the savings account, the money is going down in value, but it's there available for you to blow it on something that you shouldn't be spending it on. And so that's why, that, that, that's one of the reasons why we say saving makes you poor is you got to do more with the money.

Uh, and, uh, one of the reason why saving makes you poor is the, the mentality of saving, uh, can get you trapped up in, in trying to save pennies and, and you're, you're, you're not working on focusing on making dollars. And so if you're clipping coupons for hours a day or hours a week to save $5.10 dollars, $15. Yes, you're saving and you can feel good about that. That's not gonna move the needle here. We need you to spend your time more wisely. Uh, you know, we'll talk about it but financial education, focusing on learning about asset classes and things like that. Not a clipping coupons. So several things about saving that we don't like the, the biggest thing with saving that I hate is people think there's like a, a period at the end of it. Right. Like it's savings. That's it. Like, what do you do after that? Was, was kind of my like, what do you do after you save it? You know, do we just, like, save up millions of dollars in cash? And then when we retire and stop earning money, we just take that millions and we just spend a little bit every month until we're out of money and then we have $0 of course not. Right. People think savings is ok.

I'm gonna save like Joel said, and for that vacation or I'm gonna save and then I'm gonna use that for the car. I'm gonna, they don't have a, a mindset of investing it. Right. Right. So what, yeah, what do we do with it after it's saved? We allocate it to investments, right. We invest it. So we're, it's like spending it. It's familiar, it sounds familiar. You can do it like spinning, it feels the same, it kind of gives you the same euphoria, but instead of it disappearing immediately. It actually goes into this investment vehicle and earns more money. It grows, it goes to work for you. And so that brings us to the next point and it's time is money and what we mean by that is you have to take, uh, I don't know what I wanna say about compounding interest. Go somebody to help me. Yeah. So time is money, right? If you, it's, it's not about saving dollars, it's about getting dollars in the market and letting compounding interest do its thing. So you have to have time for compounding interest to do its thing. You have to have 2030 years paying, you know, 5 10 $50,000 a year. So a big key to getting rich is, is starting early because everybody has about the same amount of life and compounding interest really starts working uh 2030 years into the game.

And so what most people do is they don't focus on investing until their thirties or forties or fifties. I mean, if you're, if you're 30 or 35 you haven't started saving uh sorry, saving, investing your savings into, you know, assets, then you are behind the eight ball and you've cost yourself so many millions of dollars down the line. Uh If you can get going in your early twenties, man, you give it so much time to work. And so that's why we have to begin get you in a mindset of time is money but, uh, not just time is, money is compounding interest is a powerful tool and if you have enough time it will get you anywhere you wanna go. You know, I would like to do that example that I gave $5000 you know, 40 years ago at 15%. If I'd invested at 15% which, you know, real estate can do. Walmart Stock probably is done. I'd like to see what that number is. I, I, I guarantee it's over two million bucks. So I use that example, but it's actually a true story. My grandfather, his dad gave him $5000 in, in Walmart Stock or something when he died, you know, and he just, he never took anything out of it and he always sets the dividends up on reinvestment and that $5000 from the time his dad died to the time he died, turned into like $200,000 5002 100 just reinvesting the dividends and keeping it in the market 20 years in a, in a growing relatively large cap company.

I mean, I don't know what Walmart was back then, but it, I mean, it was, it was big enough to, to be public and buy shares. I wonder how many of our listeners know the rule of 72. I don't even know the rule of 72. Then you get, you get educated today. So the rule of 72 is talking about your $5000. Wait, wait, wait. Does Brian know about this rule of 72 over here? I've heard Joel mention it before we got? Nobody knows it. All right. Rule of 72 is seven years to double your money. You divide divide 72 by the rate of annual rate of return. And that tells you how quick your money doubles. Yeah, I knew that. So if, let's say that you're 72 you divide by, pick a number, uh, you know, where we get 20% and, and so 20% has us doubling our money every 3.5 years. Divide 72 by 20. Let's say you divide 72 by 6%. Uh, you can do that math, whereas can't you, Brian 72 divided by six is about 12 point about 12, it's about 12, uh, 12. So if you're only getting 6% return on your money, then it's gonna take 12 years to double it.

Ok. But if you get 12% it doubles in six years and you get 24% doubles in three. And so that's an easy way to, to kind of get a handle on. Hey, I know I can get 12% of my money. Uh, so I know it'll double every six years. And so, you know, each time I, I save $5 at Starbucks or I don't eat out and I save $30 on a, on a, a meal at a restaurant. Ok. I can just start doubling that every six years and I can see what it's worth when I'm, when I'm retirement age for everyone out there. Because there's just so many people that are saying, man, how do you find something that earns 12%? That's so much money. Or you guys say you earn 20 nobody gets 20% on their money. We, we've actively deployed over $22 million through criterion and all of that is earning more than 20% on its money. Yeah, definitely. Ok, we got, we're gonna keep it short. We gotta keep going here. The next one in order to get rich uh quick is you have to work uh daily on your financial education.

Ok. Mo you know, when I graduated college, we were living in a one bedroom apartment, 600 square feet small cheap and I didn't really know what to do. Uh And it wasn't until I came across books and C DS that, that lit my mind on fire and opened a whole world lit you up. Yeah. Lit me up about money investing, compounding interest, you know, profit and loss returns, risk, all these things and it lit up just thinking about it and, and so I changed my thinking, I may have been thinking about, you know, working out an ultimate frisbee and, and in my day job and now all of a sudden I'm thinking about what rich people think about because, you know, your financial education, you have to understand what, how, what, what does the P N look like and what are good rates of return and what are the asset classes that I might be able to invest in? You know, what are stocks versus bonds? You know, a lot of people, they're like, I don't really wanna, I don't wanna think, I don't like money. I don't like those kind of things. I wanna think about high frequency. Uh And so that's fine. Hopefully your spouse uh is, is, is doing that.

But if you don't have anybody in your household that makes money high priority, then you're not gonna have a lot of it. Yeah. So that, that's a great example, right? Like I, I think in your particular relationship you're, you're not paying all the bills, right? That is that too much information? I mean, that's really uh my, my household, my wife Becca, she pay, she handles the household bills for me. Yeah. Yeah. So it doesn't have to be you, right? Like we're a lot of us are business owners, a lot of us are entrepreneurs or, or what have you, you realize very fast when you're an entrepreneur that you have to do everything and you have to wear all these hats and most of them you suck at and you don't want to do, most people don't want to pay their bills, but you've got to have someone in your life. That makes it their mission because just like we started this episode, if you don't want it, you're not gonna go, like, spending less money is uncomfortable investing all the money you just made is uncomfortable. All this stuff is not easy and it's, it's very uncomfortable to do. But we're saying the math plays out on paper. It, it is, it's uncomfortable and until it isn't, and we've talked about this before, Brian, at the, the jobs that we've worked at together at companies is a lot of people spend a lot of time being good at certain things and, and they, they'll, you'll be good at whatever you focus on.

Uh but money has to be one of those things if you want to have a lot of money, if you wanna make, you know, less money mistakes, if you want to earn higher rates of return on your money, if you want to have more freedom from your money, you have to make that a priority. But most people don't. They say I wanna be a good engineer. I wanna be a good teacher. I wanna be a good salesman. And so that money is not what I wanna focus on. Ok. There's gonna be a price to pay for that. And what we're saying is you need to actively spend time every day working on your financial education, reading books, listening to mentors, getting ideas. And 11 thing you brought up Brayden is you have to change, you might have to change your circle of influence on some level. If you're not hanging out with anybody that, that, you know, is an entrepreneur, a business owner or wealthy, uh, then you're gonna be limited because you don't, you won't know what you don't know. But hanging around people that want, that are where you wanna go or at least further in the direction that you want to go. They're gonna spark ideas, they're gonna talk about investments, they're gonna increase your financial education just by being around them. Yeah. And it doesn't really take a lot of time. It's, it's mostly a mindset like it's ok to be a good engineer or a good teacher for sure.

But at lunch or, or a couple of hours after work then get some of this financial education. Right? And if you're thinking about it then then it's most likely gonna happen. You're not, like you said, if you're not, it's not, it's definitely not gonna happen. Join an investment club in your city, join a real estate club, get, get involved with uh our business owners group, you know, so something that gets you around people that are talking about uh early retirement companies, investments, uh because you're just gonna absorb so much knowledge and, and that's got to be a key, I think uh in order to get rich quick, so to speak. Yeah, you made a good point that, that it's uncomfortable. Think about how many of our investors when they first invest with us, they think, oh, it's risky. And I'm uncomfortable and they ask lots of questions after about the first deal or two. They don't ask any more questions basically. Right. They get comfortable with it. Uh, we've educated them on how to look at some of the financial information we send them on our deals and, and now they're comfortable and it, they don't feel like it's as risky or, or they're not as uncomfortable. It just gets easier. Yeah, I, I think it's, I think it's that way with everything. Um And, and you've just got to get comfortable being uncomfortable.

And to Joel's point about mentors, mentors are a must. I don't think it's an optional add on. I, I think you have to have somewhere that's achieved where you wanna go because you're gonna run into a million roadblocks and you're gonna try to get distracted and pushed off your path and you're gonna need somebody who's been there to say, hey, man, calm down. This is the end of the world, been there. We've done this before. Just keep your head down, keep focused. We'll get there and again, people are scared of asking people questions. We, we get people that email us all the time and ask questions and I'm, I'm more than happy to respond to me, take me a week, 10 days, but I'm more than happy to respond and, and tell you everything I know because generally speaking, when you're complimenting somebody and asking questions about them, which is how you should be approaching this scenario. Hey, man, I saw you're into so and so or I saw you develop this building. It's absolutely gorgeous. Would love to know how you did that. Is there any way I can take you out for a beer or lunch or coffee or something? Nine times out of 10? They're gonna say, yeah, even, even if it's a month out and then just ask great questions. We, we get asked out by banks and, and title companies and, and insurance and just everything soliciting their services.

It's, it's normal. Hey, how are, how did you get into that? It's awesome. I would love to learn more. How can I be a part? Ask that question. So now you're, you're spending less uh dramatically less than you make and you are not just saving because saving makes you poor. As you're getting that ready to invest. Then we, you understand the power of compounding interest and you're setting up a plan and maybe to quit work early and then you are also spending time uh finding uh mentors and financially educating yourself. So now we're ready for the, the next step. We have two more and this one is uh the rich buy assets and you know, when I do a lot of searches, um I watch a lot of youtube videos when I'm kind of have down time and the theme that keeps coming up when I type in stuff about money or wealthy or whatever is, is the rich buy assets. I find it funny that you're in your position in life and you still have down time on youtube and you're typing in money and how to get rich. And hey, I, I wanna learn, there's, there's still, there's still plenty out there for me, to me to learn to get rich how to have more money than babe.

What's, what's drop shipping? Well, ok, so, uh that's something that, that I did not know even existed really as a kid is ok. You mean there's a golden goose out there that once you buy it, it just, it, it just throws money into your pocket every month, every year and, and, and it gets bigger every year and has more lays more. I, I just didn't know that you could just go buy a money generating machine. I didn't plan a money tree, uh, plan a money tree. Those that, that was just so foreign to me. The only thing I thought is, well, you work, you get a job, hard, work equals more money and work longer equals more money. Work harder equals more money. Uh, uh, did your parents own assets or did they work, they work jobs? They work jobs. Mine worked jobs too and I, I went and got a job because it was familiar too. So let's break that familiar up and go talk to anybody who you're like, man, you know, they just really seem like they have something cool going on. I wonder how they did it. I guarantee they own a ton of assets. Just guaranteed.

Watch Shark Tank. Everybody's seeing Shark Tank. What are they doing? They're buying an asset. They're buying a company, something that's tangible. It's typically got assets in there and it produces excess cash flow to the benefit of the owner. It makes the owner money. That's an asset. It, it's just so important and most people, once again, they plan on working their entire life. And so they're not thinking in terms uh of buying assets, but buying assets allows you to make money while you sleep every day, every month, every year, my net worth is going up and I'm not having to do anything for it. I mean, if I just didn't do a thing for the rest of my life, I would get richer tomorrow and I would get richer five years from now and I would get richer 10 years from now because I have assets that are growing in value and putting money in my pocket. And so your whole goal in order to get rich in this life is, is to convert earned income into buying assets into passive income, quit your job, make more money. Uh And so that's what we're encouraging you to do is to get, get your, your mindset is, how do I, how do I save up some money for my, my job and, and invest that into assets that make me money while I sleep?

That, that's literally, I mean, probably 90% of people that are ultra wealthy. That's what they do. You know why ultra wealthy people don't pay taxes. I mean, I, I know, you know why, but it's because they don't have income, they don't have taxable income. They just own shit and it pays them. Yeah. And assets were as some assets do, uh, shed income. That's, that's taxable. But then they, they use the depreciation of that asset in order to offset that income. Ok. Go ahead. No, I was, I was just gonna, I, that kind of brought us to our, our last point, last point which is, you've done all these things is that, is that it, is there anything you should be doing to, to monitor what's going on to check in? So I think it's really important to the last point we have here is begin to track your net worth. And so if you're listening, are you tracking your net worth, if I ask you, hey, what's your net worth? What would you say? What would they say? Uh, I don't know. You have no idea. Well, then we got to find out and it's, it's a weird thing with the brain is if we don't, it's almost like I don't really wanna know, you know, I, I don't wanna know what my net worth is.

I don't want to put all my liabilities down because then I'm faced with what I'm purchasing that isn't helping me. But I don't want to put my credit card and my student loans and my, you know, my, all my payments down and I'm, oh man, I'm, I'm broke. Right. But tracking your net worth it, it will put it into your subconscious and it gives you a target. And the powerful thing is once you have that number, whatever it is, you can go to work, your subconscious will go to work on. I I if you have a negative net worth getting it a zero and then once you're at zero, you can grow it. OK, I'm gonna grow my net worth this month by not doing X by not eating out by not buying a pair of shoes by not, you know, whatever. Uh And so then the next month it grows and the next month it grows and you'll get more excited because you can see it growing because you're tracking it. Or if, if the opposite happens, if it goes down, then you know, I've, I've got to make some more changes. Now. It could go down temporarily because the stock market goes down or something like that. But, but it could actually go down and, and if it is, you know, you gotta, you know, you have to make some changes. I love it on the upside and the downside. And like I said, when you start out, it's discouraging.

But once you put it on paper and you kind of sulk for a few days, you realize like, OK, f this Excel Sheet, I'm not, I'm not as rich as that piece of paper says I am even though you are ok, but that's the secret between me and you, I won't tell anybody. You figure that out on the upside too. Like you get all these assets, you start doing deals, you, you know, you're moving and shaking, you're figuring out and you're like, oh babe, I think, I think we're millionaires like we're not millionaires. What are you? What are you talking about? No, it really doesn't matter, right? Like it's all about the cash flow. And I, I think that's a great way to end this because like I, like I said earlier, it's not about getting to retirement and having saved millions of dollars and then just slowly spend millions of dollars, we're trying to get to retirement, having invested millions of dollars, never spend that and then live off of the cash flow. It's like it's all about the cash flow. You can, you can be worth a billion dollars and if you don't have any cash flow and you don't have a way to get, you know, any sort of cash flow that's, that's not gonna work. So like on the negative side and the upside it's nice to look at it.

Keeps you on track. You have to measure it, it, it tells you if you're doing the right things and rewards you. But at the end of the day, assets are ill liquid. So it's not like this stuff is just showing up on your Bank of America app or, or wherever you bank. Then that's why it's important to track it too because once you start doing deals, you need to be able to scale that and you need to be able to track it. And if you die, you need to be able to will it and put it in a state and everything like that. You've, you've got to monitor it that and we've talked about goal setting a million times before to achieve a goal. You've got to write down a tangible number. You've got to write down tangible benchmarks if you want to be a millionaire. And that's, I'm just picking that arbitrarily out of there. A lot of people have that goal of I want to be a millionaire. How are you gonna do that? Unless you figure out what a million dollar uh net worth uh personal financial statement looks like. And for people who want to do it, it's really easy down. Just Google per personal financial statement and a bunch of templates and spreadsheets will come up, you just kind of fill in the blanks and it'll kind of add it and subtract it all up for you, come down with the net worth, you know, I, I'll throw this out there.

Obviously, I wouldn't be able to accommodate everybody. But if there's somebody out there that says, hey, I want, I want a financial checkup and I want, I want Joel to evaluate where I'm at, I'll do that. But the first thing I'm gonna do is force you to fill out a personal financial statement and we're gonna go through every expense you have and every asset you have and every liability you have. And we're gonna put it all down on paper and we're gonna look at it together and, and we're gonna talk about it because otherwise you don't, you don't know where you are. And I, I was watching this, how to, how to have your Rich Life show on youtube on, uh, Netflix. And, and he, he goes into that when you're not, you tubing about money and net worth, you're on Netflix about figuring out how to get rich. Well, it was interesting because he goes to average couples and, uh, he, he starts, they, they, he just analyzes their bank statements. He looks at where their money's going, he looks at what they earn and then he sits them down and most of them don't even know where their money's going. They don't even, they don't even realize they're spending more than they make because it's like, I don't really want to think about it or, hey, Well, I grew up poor and so whenever I get money in my bank account, I want them, I just, I just buy it right.

And, and so he helps them work through some of these things that are holding them back. But anyway, uh if you're doing all these things finally track that net worth and watch how your excitement grows and that excitement will motivate you to do more and then your net worth will grow and it'll keep, it'll, it'll keep going. The cycle will keep going. Brian, your signature line. Thanks guys. We done. All right. We'll see you next week. Thanks.