Don’t Fall For These Market Trends with Austin Hankwitz

13:25Bo Hanson:But I just don't want people to feel pressure that they have to get into some of this stuff where that's probably not where you start the journey. You start the journey with the boring, tried and true, don't put pressure on yourself that doesn't need to exist. And then as you get deeper, definitely if you find a passion for it, go for it. Look for the permanent portfolio type investments. But I love you. You're very transparent on that, and I appreciate you being so open with us.

13:50Austin Hankwitz:Yeah, no, absolutely. And you mentioned the hobby aspect of it, too. It's so funny. I don't think people have the time to do all of the research that they should do before owning a single stock, right? Or should do before they go own some sort of thematic ETF or a precious metal or something. And honestly, I don't think people want to go do without research, right? So it's like at the end of the day, just go buy the index funds, go buy the booze of the world. And yeah, Dow Jones, Industrial Average, all that stuff. Just go ride the wave.

14:21Brian Preston:Well, I think what ends up happening is people, they think, okay, I'm going to do this thing. I'm going to go buy the stock that I'm interested in, or I want to start playing in one of these little. But then what ends up happening is it begins to captivate your attention, right? Like even though you have 95 % of your stuff over here doing this boring old stuff, you're paying attention to this 3%, 5 % thing. So one thing that we have to do as investors is figure out, okay, when it comes to like things going on in the financial world, how do we discern between the things that are like actually newsworthy that we should be paying attention to?

14:52Brian Preston:And what's the noise? What are the distractions? What are the things that we should not? Because I know that I see, especially young people who get it out of order, like exactly what Brian said, they will focus on that three to 5 % and allow that to affect their decision making, rather than ignoring it and kind of saying, you know what, doesn't matter what's happening this day, this week, this month, this quarter, I'm going to be okay. Would you agree that that's what happens when young people start on that path too early?

15:23Austin Hankwitz:Yes, I would agree. I think that a good analogy to think about when it comes to investing, if it's in the stock market in general or a single stock, whatever's going on, is comparing the stock market sort of to a pendulum. It's always way overexcited, everything's crazy, or it's doom and despair. It's never just in the middle, right? A pendulum swings back and forth, back and forth. And I think to your point of, is it noise? Is it crazy? Or is it newsworthy? Where are we at? Like just all the emotion, right? Because it's money. Money is emotional. Money is a very emotional thing. And no, I totally agree.

15:57Austin Hankwitz:I think a lot of people make the mistake of being in that pendulum cycle. Oh my gosh, wait. So Amazon spending 200 billion next year, Is that good or is it bad? Wall Street thinks it's bad, but they also have just back and forth, news, back and forth. It's crazy. Where if you kind of just take a beat here, take a step back, look at it and say, well, we know over a long period of time, the S &P goes up, call it 8.5 % adjusted for inflation. You can say whatever about the other indices. I don't know what their specific performances are with the NASDAQ or the Dow Jones, but I'm sure it's up until the right over a long period of time, right?

16:30Austin Hankwitz:So it's just, it's important to discern the difference.

16:33Brian Preston:Well, so I think one of the things that we were talking about, and I think, was this Rebe's idea? Did Rebe come up with this? I can't take all the credit now. It was team. This was a team idea. Y 'all came up with an idea of a fun little exercise we can walk through to see how good we are at discerning. Yes, we are going to get to the Q &A soon, so get your questions in the chat. But first, we're going to play a little game. It's called News or Noise. So we were just discussing, we see financial headlines all the time. Some of them could be positive, but let's be honest, a lot of them are doom and gloom, right?

17:04Brian Preston:A little scary, a little confusing maybe. So we are all about cutting through the noise. So we are going to play a game where I will read a real financial headline of the very recent past. And you guys will tell me, is it news, which you have a paddle that you can hold a thumbs up. You should pay attention to this for some reason. Or is it just noise? We don't need to worry too much about that in our personal financial lives.

17:29Bo Hanson:Any ability, because I don't like, you know, I like to talk.

17:32Brian Preston:Oh, yes.

17:32Bo Hanson:So is there any editorial feature involved in this?

17:35Brian Preston:You get to say why. I would challenge you to keep it to like 20-ish seconds. Cool. That's our challenge.

17:41Bo Hanson:Okay, 20 seconds. All right. I feel like there's always this new, this is a new trend where they put me especially. They're putting you in a box. They're taking away my filibuster options.

17:50Brian Preston:All right, let's dive into the first headline. It says, OpenAI is unsatisfied with some NVIDIA chips and looking for alternatives, sources say. Is this news or noise?

18:07Bo Hanson:Everybody says it's noise.

18:09Brian Preston:Why do you think it's noise?

18:10Bo Hanson:Well, I mean, unless, you know, like I said, I have dear friends that they're all crazy and they've jumped into the NVIDIA trend. But I don't personally own that. So that's noise to me because I'm more of buying the market, being part of the market instead of trying to beat the market.

18:27Austin Hankwitz:I think it's noise because at the end of the day, AI is here to stay, right? OpenAI is going to be here. But it doesn't matter whose chips they use or whatever, as long as they're making, I mean, a billion people around the world every week use ChatGPT, right? So it doesn't really matter whose chips are used as long as they have good customers and good products.

18:48Brian Preston:Yeah, I would say the exact same thing. For me, something that's newsworthy means there's an action or a takeaway I should have from that. When I hear that, there's no action for me. I'm not involved with how OpenAI makes their decisions. So I'm going to let them make their decisions and then I'll just get to participate in the broad market. All right, here's a headline. It says, this tech stock just crashed to a 52-week low. Should you buy the dip? Is it news or noise? everyone says noise again. All right. Why do you think it's noise?

19:20Bo Hanson:Here's what's interesting to me. If that would have been the S &P 500 is at a 52-week low, because that would be more of a market-type experience. I have a whole protocol when we hit bear market status to how I think about and I get myself as a financial mutant excited. But individual tech stock, that's more of a headline to get me to get my eyeballs than it is for action.

19:44Austin Hankwitz:Yes, that's exactly. It's an eyeball. It's a click. It's come look at this. It's trading at low. Do you buy the dip? Yeah.

19:51Brian Preston:Should you buy the dip or should you always be buying?

19:53Austin Hankwitz:Well, they never tell you the tech company either.

19:55Brian Preston:She said, should you buy the dip or should you always be buying? I like always buying. You can use that. Yeah. That was free. Okay. It's just fun. Well, I'm glad. We have a lot of fun on these. Okay. Next headline is Dow ends over 500 points up. S &P 500 finishes just shy of a new record after strong January manufacturing data. This one's about the S &P. What do you think? News or noise? All right, let's go. We got a little split here. So let's let Austin go first. Austin says news. Why do you think it's news, Austin?

20:31Austin Hankwitz:I think it's news because at the end of the day, if the S &P and the Dow Jones are trading at or near all-time highs, that means that the underlying, because the economy and the stock market are not the same thing. And I think we all know that. But good news about the economy tends to drive the stock market. And I think it's a newsworthy headline to know that the economy is trending in the right direction. Therefore, the stock market seems to be trending in the right direction from this headline. So I think this is something I would click on and I'd read more about. I want to know the January manufacturing data.

21:04Austin Hankwitz:I'd want to, okay, cool. This sounds good. I'd actually click on this story. All right, Beau?

21:08Brian Preston:I think it's Nick Murray who said, man, if you think that the stock market is high today, wait till you see it 10 years from now. And so I think the market, if it truly is a yo-yo that's going up and down as you go up a mountain, we're always going to be hitting all-time highs. So for me, there's nothing actionable in there.

21:25Bo Hanson:Yeah, if you look at the data of bull markets, how long they run versus how short bear markets are, there is a progression where we keep going higher and higher. Nobody knows. Now, look, it's important for you to have an allocation that's good before, during, and after that reflects your goals and your mix of what you can handle from a risk perspective. Since I'm already assuming, since you're a financial mutant, you've checked the box on that, there's nothing actionable I can do from all-time highs. Whereas it's the inverse of what I said. When we hit 20 % down, that's a bear market. There is something I can do and think like a contrarian on that.

22:06Bo Hanson:But all-time highs, because markets run for years, there's nothing for me to do. I don't think I kept up to the 20 seconds.

22:13Brian Preston:That's all right. That was a good discussion. Good discussion. When you want your spring break to feel like and your kid's pool day to feel like and your hotel bed to feel like ooh, and room service to feel like because at Hilton, hospitality feels like Your cabana's ready. Would you like fresh towels? It matters where you stay. Book now at Hilton.com. Hilton, for this day. kayak gets my flight hotel and rental car right so i can tune out travel advice that's just

22:52Austin Hankwitz:plain wrong bro sky coin way better than points never fly during a scorpio full moon just tell the manager you'll sue instant room upgrade stop taking bad travel advice start comparing

23:06Brian Preston:hundreds of sites with kayak and get your trip right bad advice you talking to me kayak got that

23:13Austin Hankwitz:right.

23:17Brian Preston:Next one says, Amazon's latest layoffs add fuel to the white-collar recession. What do you think? News or noise? Bo says news. Brian says news. Austin says news. Oh, man. I thought I was going to be contrarian.

23:29Bo Hanson:I thought we were all going to be contrarian.

23:31Brian Preston:I literally picked that one because I thought I had a good angle. I'll let y 'all go first

23:33Bo Hanson:to get on this one because to see, I bet y 'all say the same thing. Go ahead.

23:36Austin Hankwitz:I am a firm believer and we just saw this with like open claw over the last couple weeks. Maybe you guys have seen that or not, but like agentic, AI, robotics, like embodied AI is what it's called, right? This is coming for a lot of white-collar and blue-collar jobs. And I think between Amazon laying off 30 ,000 or 40 ,000 employees since, call it, over the last six months, and then we've said the Dow Inc, they laid off, call it 10 ,000, 20 ,000 employees as well. I think this is newsworthy. I think people need to be paying attention. Now, is there an action to take? I don't know. I'm not telling people to take that action.

24:10Austin Hankwitz:I think there is. And if that's like that specific, I can't wait to hear. But I think like this is something more people should be paying attention to.

24:16Brian Preston:What do you say? The action is,

24:18Bo Hanson:is that when I read a headline like this, is this could be for you to internalize and ask yourself, do I have my own emergency reserves? Am I okay if this thing goes sideways? Because look, when it rains, it pours. When I wrote Millionaire Mission, I shared that and we changed the analogy and I give Daniel a lot of credit when Reby and Daniel and I were brainstorming and we came up with rains at pours, is because I always try to create this visual where all the bad actors, meaning that the market gets its teeth kicked in, you go unemployed. It's like all bad news hangs out together and smokes cigarettes together.

24:55Bo Hanson:So it's one of those things where you just need to know all these things are likely going to happen at once. So it's a good wake-up call for you to internalize that and say, hey, what's going on in my house so I can tend to my own garden so I don't get caught in a bad situation.

25:09Brian Preston:The only thing I'll add is I agree. I don't think it's newsworthy for the investment part. I think it's more newsworthy for my vocation. Am I in a place where I need to be thinking about what my future career looks like, what my future opportunities look like? I don't want to ignore that this thing is happening if it could potentially touch my world. Yeah, that's good stuff. All right, we got a couple more before we head to Q &A.

25:30Bo Hanson:I thought I was contrary on that one too.

25:33Brian Preston:Well, that was fun conversation anyway. Next is erratic behavior of Bitcoin, silver, and memory stocks threatens to unnerve the bull market. Whoa. Okay, we got some more disagreement. Austin and Brian say it's noise. Beau, you say it's news. Here's why I say that's news. I think that these things are so hot and people are so excited about the cryptos or the bullion or whatever the thing may be. whenever there are headlines that show realistically how risky they can be, how much I can, I want people to take note of that and recognize, oh, maybe this is not somewhere where I should allocate my dollars.

26:14Brian Preston:Maybe this is not something I should be playing with because just because it's gone up and to the right for a long, long, long, long time, and just because there was a thousand percent rate of return over this small fragment of time does not mean that that will persist into the future. So I think it's news because it should be a deterrent from people jumping on the bandwagon at the wrong time for the wrong reasons.

26:35Austin Hankwitz:So don't do it with eating money.

26:36Brian Preston:Don't do it with eating money.

26:38Austin Hankwitz:I think that's totally fair. If we think about like, you know, market cycles and business cycles and things like that, I could be wrong here, but how I understand it is when you have these high beta risk on asset classes, like a Bitcoin or a memory stock, once they start to experience those climax tops and start to come down, like, sure, maybe that could be a newsworthy takeaway of like, wow, where could we be in the market cycle or, you know, what's ever going on there? But to me, it's just keep going. Clicks. Yeah.

27:07Brian Preston:That's great. Well, that was fun. I like that we had a little bit of... Oh, come on! I want more of those. That was great. Well, I want to answer some people's questions. Are you okay with that? Oh, okay. So excited for that one. No, I do have some questions queued up for the guys to answer. Also, due to Bo and Brian's personal requests. We will be doing a rapid fire segment towards the end of this episode. So if you would like, if you have a question and are watching live and would like it to be answered rapid fire style, go ahead and just write RF at the beginning of your question in the live chat and we will add that to the queue for the rapid fire round.

27:43Bo Hanson:And kooky wise on what gives this makes it unique is that we're still going to keep this at 60 seconds.

27:50Brian Preston:Yes.

27:50Bo Hanson:So we're all math minded people. 60 divided by three? Shoo.

27:56Brian Preston:20 seconds. Oh, man. You guys will have to work together.

27:58Bo Hanson:You saw I failed at it on the first attempt. Let's see what we do on take two. All right. We're going to start it off. 60 divided by three is 40, 10, and 10.

28:05Brian Preston:You can take a little more time. Come on now.

28:08Bo Hanson:I feel, oh, I feel, did you see I got attacked? There was a mugging that just occurred.

28:12Brian Preston:I didn't say you were the 40. I didn't say that. Oh, come on. Nobody assumed that. Can neither confirm nor deny. Okay. Let's go on to Jake's question. This is not rapid fire. He says, hey, money guy, I'm 24 with no debt. I'm making$130K a year with a$25K emergency fund and$70K invested. That's$50K in tax brokerage and$20K in Roth. I'm wondering if it's okay to move into an apartment that would take 40 % of my income. You may want to recap your home buying rules guidelines say your housing expenses really shouldn't go beyond 25 % of your gross income.

28:53Bo Hanson:Do y 'all want the old man to answer or do y 'all want to go jump in first?

28:56Brian Preston:I think I'd like to hear the old man answer. Old man first.

28:58Bo Hanson:So first of all, Jake, congratulations. You're doing so well. I see so many great, I mean, you're bearing fruit. So the vine is doing a lot of good things right now. But I wonder if you're paying, if this is 40 % of your income, you're trying to live alone in this swanky place, go get a roommate. I mean, what happened to us all having roommates until we go get married? And so that's me. I had six roommates in college. I mean, I love the more, the merrier. I mean, that's what Bo and I joke. I was joking with Bo cause he is, I think if we were the same age, we would have ended up being, we were roommates for a little bit.

29:34Bo Hanson:We were roommates. When you and your wife were moving up here to Tennessee, y 'all lived with my wife and my family, old big spoon Bo here. But it's, I definitely think that there's, you're doing so much right. I hate to derail that because you're in that stacking stage of letting your, army of dollar bills grow, go get a roommate and all these dreams. Now you're 20 % of your income. And that seems completely reasonable. Yeah, I completely agree.

29:58Austin Hankwitz:I think the most interesting sort of observation about this is I appreciate how Jake is going to focus on renting versus like, I'm going to go buy a house. I'm going to go put all this money because like, I'm pretty sure the stats right now is to show it is cheaper to rent. In a lot of places it is.

30:15Brian Preston:Yeah. Yeah.

30:15Austin Hankwitz:Then it is to go buy a house with a massive down payment and figure out, you know, what has to go into that. So Jake, I love your situation. You're absolutely crushing it for 24 years old, 130 ,000 a year. You've got the emergency fund. That's incredible. Would love to see to their point that 40 % turned to 20 or 25 or somewhere in that range. If it's a roommate, if it's just a different apartment, you don't need, you're 24, dude. What are you living at the Ritz for? That's what I should have said. I like that analogy.

30:39Brian Preston:That's where I was going is, is why, because apartment is just renting. It's a short term, uh, short term obligation. situation, why are you picking a place that's 40 %? What's your current rent? What are you paying right now? We have said before that when it comes to buying a home, we do not love it, but we recognize that in some situations, 25 % may not be realistic, get on the home ownership side of things. And maybe you're early in your career, you have a high income trajectory. And so for the moment, you might have to be at 28 % or 30%, but you know, you're going to get married or you know that you're going to have an increase in pay or whatever, that's different than, hey, you know what?

31:16Brian Preston:Right now I can voluntarily and volitionally just go pay 40 % of my income in rent. I think that's likely an unforced error in this case that could be avoided.

31:27Bo Hanson:Go and watch Roadhouse with Patrick Swayze. Not the new updated one that Amazon Prime came out with like a year and a half ago. Go watch the original Roadhouse with Patrick Swayze. Cut out, see if you can find it on TBS because it'll cut out the nudity and all the cussing because that version is probably more appropriate for this show. But I want you to note that Patrick Swayze essentially lives in a barn on some land, and it's very modest, and still he was the coolest cat in town, and that's what you ought to go with. You don't have to have the Ritz-Carlton place.

32:01Brian Preston:I just think it's hilarious. Roadhouse at this point has got to be, what, 40-year-old movie?

32:05Bo Hanson:I'm old. I don't care. But I feel like I am educating the masses here of the younger generation because they're going to go watch that and be like, I watched that one with Jake Gyllenhaal or whatever. Not the same movie. Not the same thing. Conor McGregor. Not the same movie. Not the same thing.

32:19Austin Hankwitz:No, just to reiterate though, I think it's so important and I really want to hammer this home. As someone who was 24 that was making$65 ,000, $70 ,000 a year in my job thinking I had made it and I'm going to go buy this cool car. I'm going to go do this thing at the expense of maxing out my Roth IRA, at the expense of having a fully funded emergency fund. I promise you, you're 24 no one cares where you live no one cares about your apartment like just if you can get over that ego the faster you can get over the younger you are like you are going to set yourself up for financial success you can still get

32:48Bo Hanson:a significant other living in the roadhouse barn I promise that is going to happen yes yes

32:55Brian Preston:no that's good stuff alright let's move on Jake didn't even know all the life advice he was going to get right there he didn't even know what was coming his way honestly I was hoping that you guys would have some good guidance that is

33:05Bo Hanson:somebody in the comments can tell us is there a way to watch these classic movies without all the other stuff too, though, because I'm sure there's in Create Technology is probably, because Bo and I had TBS. Uh-huh. You know, if you grew up in Atlanta, you had the Superstation that Ted Turner set up.

33:18Brian Preston:Brian and Bo have a problem that they sometimes remember seeing movies on TV and didn't realize all of the content that was cut out of them. Go watch Love Actually. have this problem.

33:28Bo Hanson:Holy cow, that one will make you blush. If you watch that with the family after you watch it on TBS, it's a different storyline.

33:36Brian Preston:It's honestly delightful to see you realize things like this. Okay. We do have another question queued up. If you want to do rapid fire questions, be sure to get those in. Just put RF in front of your question. This next question is called Kelvin 4659. It says, I was looking at your slide for what qualifies as high interest debt. I noticed that a mortgage was not on the list. What are your thoughts? And just to recap, if you're familiar with the FU or the Financial Order of Operations, Step three is to knock out that high-interest debt. So what do you think Kelvin needs to know? Do we have that slide that the content team can throw up there?

34:13Bo Hanson:Oh, we do. What counts as high-interest debt? So Austin, this is what Kelvin is referring to.

34:19Austin Hankwitz:This is a really interesting framework. I appreciate it when people create frameworks and rules like this. And you guys, this is really thoughtful.

34:25Bo Hanson:Yeah. Well, but it's even controversial inside of the Money Guy show. But we'll save that for another day.

34:32Brian Preston:So Kelvin's ultimate question is, hey, I notice you say, okay, student loans, If I have that, some interest is high, some interest is low. Credit cards is always going to be high interest. Auto loans, some interest is high, some interest is low. But mortgages were not on the list. And we got this question a lot a number of years ago when mortgage rates were like 7%, 7.5%. People would ask, hey, is this now step three? If I just bought a house, should I be funneling all my funds there? And we kind of said no. We do take this position and this stance that mortgages are likely, at least not in our current era, current stage, high interest debt.

35:08Brian Preston:Why do we say that, Brian?

35:10Bo Hanson:Because you can refinance. And that's the thing is that there's so many things you ought to be doing with your money in the beginning that it was more of an allocation of resources. And that's what, look, I think it's still noble. I think that Austin was spot on, though, is that you do need to be very aware, whatever community you look at, is it better to rent versus own? Because there's still a lot of people out there who have mortgages pre-2020, where their interest rates are sub 4%. Their purchase price was a half to, we're getting to the point where 40 % of what the market value of things are.

35:44Bo Hanson:So that's why those people who own those houses from that period can have a rent well below where market is if you had to buy it and you'd be a-okay. Whereas I don't force it, but I do think that if you're in a house, it's okay if that mortgage is 7 % for a moment in time. My first house was six and three quarters. And I was able to refinance down. And I still think there's going to be an opportunity for that in the future. I really do. I'm an optimist towards interest rates coming down.

36:14Austin Hankwitz:I am too. And I think, I just saw that slide for a second, but something I noticed was it was broken down by the specific thing that was financed. And I think there's something to be had. Oh, perfect. It's back on screen. I think there's something to be had here about differentiating between a depreciating asset that's financed and an appreciating asset that's financed. Obviously, you know, the mortgage isn't mentioned here, but that's an appreciating asset in most normal times. Car loans are the opposite. Student loans, I guess, are kind of in the middle because it's your education, your career, things like that.

36:44Austin Hankwitz:Credit cards are never good to have. I always kind of thought about this too. It's like, what's that perfect rule? There's no perfect rule as it relates to what is high interest debt. But my framework in my mind is like, okay, where's the federal funds rate? Right now, three and a half to 4%. Maybe you add 4 % on top of that, call it seven and a half to eight. If it's above that, let's get it off. Let's pay this off. Where if you're sort of in that, you know, if you have student loans that are around the five or 6 % range, you're like, okay, well, maybe this is something we can talk through or, you know, prioritize.

37:11Austin Hankwitz:You mentioned resourcefulness there and using your different resources in a separate fashion. But yeah, I think if it's above 7, 8, 9, I don't care what it is. Pay it off, man. You don't need double-digit interest rate debt.

37:23Bo Hanson:But you do. And look, I hate to put you on the spot, Austin, but if you have a 7.5 % or 8%, let's just say it's 8 % mortgage, or like you did a piggyback loan and you have your second mortgage is 8, 8.5%, would you pay that down before you funded your Roth IRA? No. No, I'd fund that. Rules, that's what we've had a lot. of internal disguise. I think you were saying only on depreciable assets.

37:45Brian Preston:If it's an appreciable asset, you were saying it probably doesn't apply, but on depreciable, it does. I do think one thing that's really interesting that I've started paying a little bit of attention to, and now we have to rewind almost 10 years before this was a thing, but we used to do these analysis for folks when they would go to buy their home. We would look at a 30-year mortgage versus a 15-year mortgage. At that time, there were some compelling circumstances where, okay, if I go get a 30-year mortgage at 6.5%, but I do a 15-year mortgage at 5 % or 4.5%, then that might be a compelling trade-off if the rates are that much more attractive, depending on where you are in your financial journey and what your age is.

38:26Brian Preston:I do think if rates kind of persist where they are now, we may begin to see more of a spread between 30 years and 15 years. What happened over the last decade is they converged so close that there just wasn't a really compelling reason to look at 15-year mortgages, I think if we stay at this level, we're going to start to see more spread there, likely. So it's something to pay attention to. But again, I still love 30-year mortgages. They give you a lot of flexibility, especially if this is your first time home purchase early on in your financial journey. But if you are buying that second home, upgrading, trading up, I don't think it's crazy if the rate differential is there.

39:02Bo Hanson:And don't sleep on the fact, go through our checklist, go to moneyguy.com slash resources, because you also need to make sure you go through the other elements. We're talking about the component of interest rates and financing terms, but how long you're going to stay in the house. There's a lot of elements and we give you the checklist of all the things you need to be considering.

39:19Austin Hankwitz:Yeah. I mean, we hear this phrase all the time, personal finance is personal. And you are the only person that can make those decisions for yourself. And it's our job to give them the tools and resources and educate them. But at the end of the day, they're the ones that have to make those decisions. Love it.

39:33Brian Preston:All right. Next question is from Brandon H. It says, Hi, team. Should I take out a 25K loan at 2.99 % interest rate for investing in a long-term brokerage account? I'm 29 on step seven or eight of the FU 95K salary trying to build a house in two to three years. Is this a good idea? Where are you getting a$25 ,000 loan at 3 %?

39:59Austin Hankwitz:First off, that's interesting.

40:01Brian Preston:Yeah, what? But here's the thing.

40:04Bo Hanson:I would also, he left off, how long is it locked in at that 2.99? And then I'm always a little leery, especially when I find out somebody is making close to 100 grand. I think there is more benefit and dividends to figuring out how you get your savings rate to 20, 25 % as fast as possible so you can make it automatic for the people, always be buying. I don't like gimmicks like this because usually this is the same Same thing as on our previous question where it was talking about credit cards because financial mutants, we all think we're so smart. We say, but the credit card companies offer me 0 % on my credit cards right now.

40:44Bo Hanson:And I'm like, yeah, and I said it earlier and I'll say it again. The dope man gives you that first hit for free because they're trying to get you hooked. And then they're hoping that you fall off into the ditch and you have an addiction and you're doing it all wrong. It's the same way with debt. And I always worry that these introductory offers, the same way you go fill your house full of furniture and they won't even make you pay interest for five years, according to the commercials. But then if you go read the fine print, you find out if you have any hiccup, they're waiting there like the Grim Reaper to just take you down.

41:16Bo Hanson:So I would rather you focus on the positive behavior that doesn't require debt than trying to count on some introductory offer and leveraging up right off the get go. I always leverage when I get into residential rental property and things like that. That's more of a step eight of the financial order of operations than somebody who's 29 years old trying to leverage to get an arbitrage built.

41:39Austin Hankwitz:And I think to add on top of that, Brandon, something, and again, maybe you are insanely disciplined and this is not going to take place in your situation. but if I was a betting man, I would bet if you were to go borrow this$25 ,000 at a 3 % interest rate, you might get a little weird about how this money is invested. You're going to see it go up and down. Oh my gosh, no. Wait, so, you know, oh my gosh, how much, what's my payment? It's down a little bit, so I'm losing money. Should I pay it back? Do I sell it early? Like, I think that you're going to get really emotional, even if you did this.

42:12Austin Hankwitz:So, in my, don't do this, dude. Literally, go find, to your point, Brian, that 20 % to 25 % in your budget. Go invest that. Do everything you're supposed to do. Wealth is not built at this early stage on debt. It's built on discipline.

42:28Brian Preston:My question is why? Here's some things I know about you, Brandon. You make$95 ,000 a year. You're 29 years old, and you've already said that you're in step seven or eight, which tells me you're saving 25 % for your future. Why lever that up? Why take on more risk than absolutely necessary? I was trying to think of an analogy and I came up with a dumb one that doesn't work real well, but I'm gonna say it because I can. If I don't put my seatbelt on when I get in my car, technically I can get to my destination faster. I don't have to worry about buckling, I don't have to take it off, but is the marginal increase in speed at which I will arrive at my destination by not doing that worth the risk that I'm gonna take on?

43:10Brian Preston:Yeah. Absolutely not. We're talking about small sums. If you are already saving and already doing the thing that you want to do, you're basically, you're not exactly rounding third almost home, but man, you are far along in the base path. At this point, why do you want to start showboating and adding risk unnecessarily that could likely, more than likely, derail your plan unnecessarily?

43:37Bo Hanson:So what I love about doing a live show is that we have, and Brandon's out in the audience and gave us more context. This is a loan for military officers. So thank you for your service. Thank you. I still, I don't think it's necessary. You know, this is one of those things where it intrigues you, the financial mutant inside of you. But this isn't where your wealth is necessarily. This isn't the foundation block for it. It's really, it's exactly what Austin said. It's the discipline of setting up those automatic for the people type behaviors that is going to take you to the next level. Because that's the other thing.

44:14Bo Hanson:As a military officer, I don't know what you have going on in your house. You didn't say you had kids. I don't think they had kids. They weren't trying to do other things. So you probably already have your own arbitrage situation is that your housing is subsidized and other things. I bet you can get to 20%, 25 % even that much easier.

44:32Brian Preston:He said he's in step seven and eight. He said he's already there.

44:34Bo Hanson:So that's why I think this is something that you look back, you go, just because you can doesn't mean you should. There's a lot of things for Financial Mutants that you learn that. It reminds me of the Siren song, Go Do This, because it's not really going to make your life any better.

44:54Brian Preston:No, that's great. Thank you for all the questions. We love hearing what's on your mind, so keep them coming. And right now we are going to keep them coming, but even faster. It is time for our It Does Not Depend Rapid Fire segment. So the rules of this segment are all three of you combined have 60 seconds to answer the question, and you cannot use the words It Depends. So that's one of the rules, Austin, because they struggle with that. They like to say It Depends.

45:21Bo Hanson:So personal finance ain't personal on this one. Okay, here we go. It's absolute.

45:25Brian Preston:Their consolation prize is that at the end of the rapid fire, we will have our, maybe it does depend segment, where you can air any grievances or add to what you didn't get to say during rapid fire, if you so please.

45:38Bo Hanson:I'm so excited. Do we have like the non-rights? Because we can't play Eye of the Tiger. Never mind, keep going. Just visualize. You can hum it. We probably don't have the rights.

45:51Brian Preston:You want a soundtrack.

45:53Bo Hanson:Dun, dun, dun. That probably doesn't get us in any trouble. We're not getting sued for that. We don't get sued for that. Now we're ready. Let's do this thing.

45:59Brian Preston:You can sing as much as you want, for the record.

46:01Bo Hanson:Look, you don't want to mess. I learned at an early age, Crosby, Stills, and Ashing Young, you don't use music on your podcast. They get you. They get you.

46:11Brian Preston:All right, here we go. First rapid-fire question. Why can't Roth funds be used as an emergency fund?

46:20Austin Hankwitz:Because they're for retirement. Yep.

46:26Austin Hankwitz:Technically, they can. But you shouldn't. Because you already have an emergency fund. The point of the emergency fund is to ensure that you are, one, not swiping your credit card, and two, not cashing out money that's already invested for you in your retirement accounts. So, no, you already have an emergency fund. You're good. You don't need to go cash out your Roth IRA principal. Yeah, whatever. It's like, pull it out without penalties. I get that. But at the end of the day, you already have an emergency fund for this. I feel like we did this like the Dapper Dance. I mean, you guys crushed it.

46:55Austin Hankwitz:Because we didn't take our times.

46:56Bo Hanson:It's just like one of us played the bass. One of us was the alto. And we're like, no, this is how we did it.

47:02Brian Preston:Is that a acapella group? Yeah, Disney.

47:04Bo Hanson:If you're on Main Street in Magic Kingdom, you'll see the Dapper Dans. Have you ever done the Drink Around the World at Epcot? I just did that last year.

47:12Austin Hankwitz:It was a lot of fun.

47:13Brian Preston:I have not done Drink Around the World. Not all at once. I've not all at once.

47:19Bo Hanson:But I've been in Epcot enough that I see the people wearing the shirt that on display are letting us know, hey, be careful of us because we're drinking around the world. Love it.

47:29Austin Hankwitz:For the record, I was not wearing one of those shirts.

47:31Bo Hanson:You should have. If I was going to do it, I need a shirt.

47:34Brian Preston:No, I have heard a lot of people say that.

47:35Austin Hankwitz:Where's like a construction vest?

47:36Bo Hanson:Hey, when we do our money guy takeover of Disney, we'll all have some shirts.

47:42Brian Preston:Good to know. This is explicitly turning into not rapid.

47:46Bo Hanson:No, no, here's the thing. If I did it, though, we would all like, we would do half drinks. You share drinks. Everybody pairs up to a buddy. Yeah, that's what my fiance and I did. See? Look at that. See, that's the responsible way to do it. That's how you get through it. If you don't do it that way, you're doomed. That's the responsible way to do it.

48:00Brian Preston:Love it.

48:01Bo Hanson:That way you can cap it off with Guardians of the Galaxy at the end of the night.

48:05Brian Preston:All right, want to get back to some rapid fire? Next one is, with an eight-year age gap, 26 and 34, what ages do you use planning for retirement?

48:18Austin Hankwitz:Wait, do you use planning for retirement?

48:20Brian Preston:Oh, man. All right, so... He almost said it.

48:25Austin Hankwitz:The easy answer is the oldest person's. Okay. Oh, I understand the question now. Yeah, no, that makes a lot of sense.

48:32Bo Hanson:That makes a lot of sense. Because that's going to be the most conservative answer because it makes time happen faster. So that's going to be the easy answer is base it off the old person.

48:39Brian Preston:And they're specifically asking what number to use for retirement, not how to calculate, like, any of the formulas, like where they are, average accumulator, any of that kind of stuff.

48:48Bo Hanson:We can come back to the It Depends section and I have a lot more feedback, but I can give you the oldest person if you need an on-the-cuff answer.

48:55Brian Preston:It's not abundantly clear, Beau. They were asking about retirement. Read me the question one more time. With an eight-year age gap, 26 and 34, what ages do you use for planning for retirement?

49:05Bo Hanson:Oh, yeah.

49:05Brian Preston:So I think it kind of encompasses a lot.

49:07Bo Hanson:It's really more of the person's age than what's the date of the actual retirement. That's right.

49:12Brian Preston:Hey, we want to retire in 30 years. Great. Look at that. 60 seconds is too long. You guys better not there. We're going to spin up a lot of challenges on this, I think, in the future. Next question says, what age or amount of money should you have before consulting a financial advisor? Follow up, how do you find a good financial advisor?

49:36Bo Hanson:I'm not going to step on any toes. Greater than$500 ,000 and you go to moneyguy.com and go to work with us.

49:45Brian Preston:Yep, I love all those things. The only thing I'll add to that slightly is it depends on what kind of services you're - You just said it. You just said it. Let me jump in then.

49:54Austin Hankwitz:Here are my quick thoughts. I think a lot of people make the mistake of thinking they need$10 ,000,$50 ,000,$100 ,000 to get started with investing. You don't. You can start with$10. You can start with maxing out your Roth IRA, contributing to your employer's 401k, right? Things of that nature. But I think when it comes to a financial advisor, in my humble opinion, the biggest, beyond just them helping you with strategy, help they can provide is the emotional sort of support that comes with investing in the stock market, which goes up, down, left, right, and in circles over a long period of time.

50:26Austin Hankwitz:They're going to keep you in the markets for longer.

50:28Bo Hanson:Look, I've tried to keep this as simple as possible. While your life is simple, come to us. When your life gets complicated, it will with success. Then you know you've graduated.

50:37Brian Preston:I gave you three extra seconds. You're welcome. We'll come back to that one. I have failed every time we've done rapid fire. Every single time we've done it, I have screwed it up.

50:45Bo Hanson:You know how good we would be if we did that shot caller thing. It would have been so good. And maybe even give me the button.

50:52Brian Preston:Do not give him the shot caller button. No, if we do that, I get the button.

50:57Austin Hankwitz:Every time you get a new subscriber, it just kind of gives you a little. Oh, man. Everyone's going to just.

51:01Brian Preston:All right. Let's do a few more rapid fire before we have our, you know, discussion time at the end. What age or amount of money should you have? Oh, I just read that one. Shoot. All right. I'd like to take this one. You don't get another chance. Morning. Currently in step five of Foo, when trying to build wealth with a spouse, is there a way to combine accounts to optimize compound interest? What's the ideal for a couple to do?

51:34Austin Hankwitz:Go ahead.

51:35Brian Preston:Compound interest will say the same whether your accounts are together or not together. That's where the mathematics work. If you have two$100 ,000 accounts or one$200 ,000 accounts, the math is the same. Now, what's the optimal strategy?

51:51Bo Hanson:No, no, you definitely use the financial order of operations. Because one spouse might have a just kicking 401k that allows you to maximize step six in a really good way. So you load that up. Both of you probably want to have Roth IRAs, but you have to make sure you have the right account structure. That's why the financial order of operations is the all-terrain vehicle to get you there.

52:17Austin Hankwitz:100%. Yeah, I think just as someone who's getting married in May of 2027, I can't wait to combine. Thank you so much. Can't wait to combine my finances with my spouse, and it's going to be awesome. That is how people build wealth.

52:32Bo Hanson:Can I ask Austin a question? This is a trend.

52:35Brian Preston:He has 60 seconds to answer.

52:37Bo Hanson:This is a trend. and it doesn't have to be, but I've noticed all my friends who are getting, because I have a lot of friends who have adult children getting married now. When I dropped the ring, when I did the ring with my wife, it set a clock for six months. But I noticed all marriages now are over a year. Now, I've heard this weekend from a dear friend, like the venues are booked even for over a year now. So is that what's going on? I'm just curious why trends are, I'm just an old school guy.

53:06Austin Hankwitz:No, it's funny. I don't mean to get weird, but yeah, so I got engaged June 4, 2025. My dad died July of 25. And so it was pause on all wedding planning. I get that. And then in October of 2025, it was let's go now think about the wedding. And the only types of venues that were available were ones we just really didn't want. Or they were available on 9-11 of this year, which is a Saturday, or Halloween. I didn't want to get married on either of those days.

53:37Brian Preston:Do you see what a growth opportunity it is to go open up a wedding venue?

53:43Austin Hankwitz:It really is. Because that's what I've heard the same thing from dear friends. And so then I flipped it forward to spring of 27, May 8 is when we're going to get married. And it was like the last day at this venue. It was that or it was Juneteenth. Like some of these venues are really, really in high demand. Yeah.

54:01Brian Preston:You were only engaged for six months.

54:02Austin Hankwitz:Yeah.

54:03Brian Preston:I was a year. We were almost a year to the day. How long were you engaged for? Oh, I was short. We were like four. four or five months. I'm weird. None of my friends were like that. I'm here for a young body. None of my friends were like that. I was like, what are we waiting for? I thought like one year was like the thing. One year's pretty common. Yeah, in my circles anyway. I don't know for what it's worth.

54:21Bo Hanson:Thank y 'all for going on that sidebar. I blew up. No, thanks for sharing, Austin. I know, not financial.

54:25Brian Preston:Just talking. I guess weddings are financial. We could go into that too. Weddings are very financial. Yes, aren't they? The venue situation is very financial. There's a whole industry

54:34Bo Hanson:that makes money off of those emotions.

54:36Brian Preston:Yes.

54:37Bo Hanson:Oh, goodness.

54:38Brian Preston:Yeah. No, when you're only engaged for four or five months, the venue is very limited, which I didn't totally mind, to be honest. I was just like, whatever is available.

54:46Bo Hanson:I'm from South Atlanta. Let me tell you, those venues, they make it happen. Plenty of venues. That was much demand.

54:54Brian Preston:Let's do a few more rapid fires before we close this out. It says, I'm at Foo Step 5 completed working towards Step 6. Foo Step 5 completed, working towards Step 6, but the car payment is$935 at 4.74 APR and that I didn't use the 23.8 rule to buy. Should I start paying this thing off or consider it low interest at age 31? Thank goodness.

55:24Bo Hanson:I know. Usually we get stuff on there, but I know.

55:27Austin Hankwitz:I would really want to know how much you still owe on this car. obviously Foo, go check that out. Make sure you follow everything they share with Foo. I think it's an incredible roadmap. But at the end of the day, if you're going to have a ton of money you owe, I think on this car, and you already have that sitting in cash and maybe like a bridge account, a taxable brokerage account, something of that nature, and you can say, hey, I'm not gonna, I'm gonna go free up$1 ,000 a month by paying this off a little bit early. I'm here for that.

55:55Brian Preston:I would do the math to recalculate. what would it take to get this inside of 23.8? So based on the interest rate, I think you said 4.75%, based on$935 a month payment, if based on when I bought it, if I wanted to get it inside of the 23.8 structure, what would the mathematics for that look like?

56:15Bo Hanson:I was going to say get it back within 23.8, go back and do the exercise. But what I loved there was Bo's Micro Machines voice. I mean, did you hear how he sped it up? I was like, man, oh man, Man, if you're running that at double speed, it's cooking. The chipmunks.

56:31Brian Preston:All right, let's do one more. This is a fun one. Favorite finance books in addition to Millionaire Mission? Because that is our favorite.

56:38Austin Hankwitz:There we go. Let's go. You go first. Sure. I will say 100 Baggers by Christopher Mayer is a great book. I really like The Little Book of Common Sense Investing by John C. Bogle. And I also enjoy Millionaire Next Door. You go.

56:58Bo Hanson:Well, I mean, everybody knows mine because I always say the two books that shaped me initially were Wealthy Barber and The Millionaire Next Door. And that's why I love what I did with Millionaire Mission is because I felt like I kind of paid respect to both of those powerful books because I gave you not a narrative form like Wealthy Barber, but I definitely walked you through my life story and how I've kind of came across Financial Order of Operations. But then I put in the analytics of The Millionaire Next Door.

57:28Brian Preston:Millionaire Mission, How to Win Friends and Influence People. I'm trying to say what I haven't been said. Oh, that's a good one, too. Even though it doesn't seem like it's a financial book, it absolutely will impact your financial life if you take what that book says to heart. Love it.

57:40Austin Hankwitz:Great time. Look at that.

57:40Brian Preston:I know. I didn't think I left you much time.

57:42Bo Hanson:I only left you in like 16, 17 seconds. You didn't, yeah. So well done.

57:45Brian Preston:All right. We have now come to the end of our It Does Not Depend rapid fire segment. So let's go back. I took notes now. You almost said it depends a couple times, Bo. So what do you want to set the record straight on? Well, let's go in order. first, anything to add to the age to retire? There's a 26-year-old, 34-year-old. How do I decide on retirement age? Austin, you said you had some stuff you want to add to that. I did.

58:04Austin Hankwitz:I just wanted to add real quick. I appreciate them doing this breakdown of trying to figure out whose sort of path and all that fun stuff. But I also think a fun exercise would be trying to figure out, we all know what the 4 % rule is. I think a fun exercise would be trying to figure out your freedom number and by how quickly you can achieve that. So maybe there's a world where you can retire at 48 or 52 or 56 before you tap into these retirement accounts. And so just taking the time there to say, okay, how much wealth can we build in a 10, 15, 20, 25-year period of time here? What does the 4 % rule look like in this?

58:38Austin Hankwitz:Do we have it in the right accounts where we can touch this penalty-free? I think thinking about it holistically, not just having an age here, age here, and who should we kind of think about is a great way to approach it. And also, if you guys are married, it's like everyone's money. So it's not like, oh, this person has money in this account. I mean, it's... Think about it as a unit.

58:57Bo Hanson:When I'm doing financial planning, one of my favorite things that I like that we do for clients is that you'll see a key dates page when you're doing retirement planning. And we'll have, you know, for both spouses, we'll have dates of access. But we'll also have the dates that they each plan on retiring. And you can kind of start very quickly seeing where the intersection points are with Social Security, with 59.5, 55 if they're part of a 401k. That's what I love about doing a plan is because you kind of start seeing all the movable pieces and you make a dream into an actual actionable plan.

59:38Brian Preston:I've got nothing to add to those, so those are great. The next question though was, and I got some thoughts on this one. I know you do. When should I hire a financial advisor and how do I find one? I was like, this is my question. What I was going to say is it depends on what you're looking for because not all financial advisors are created equal and not all services they provide are the same. Are you looking for something that's like a one-time transactional thing? Are you looking for just investment management? Are you looking for like a more total view of your financial life to make sure all the pieces fit together?

1:00:09Brian Preston:Because at different pieces, parts, and stages of your financial journey, you might be looking for one of those things. So first you need to define what am I looking for? And then you can decide, okay, well, based on what I'm looking for, I'm at the stage where that makes sense. I love what Brian said. If you're someone who's looking for like a holistic look at your entire financial picture, understand all the parts and pieces of your life fit together. We usually see that start to make sense once someone has$500 ,000,$600 ,000 of investable assets and some complexity in their life where they're like, man, I just don't know the things that I don't know.

1:00:44Brian Preston:Now, there are other people earlier on in the journey, and our opinion is there's tons of free resources and blogs and podcasts and all kinds of things out there that are amazing resources you can do it yourself. But some people want something slightly more than do it yourself. And there are solutions out there available that bridge that gap between, okay, I'm going to do it myself and, okay, I'm ready for the full, holistic view of my life. And so you have to figure out where you are and what you're looking for. In terms of how to find that, we have a great resource on the website. If you go to moneyguide.com slash resources, it's eight questions to ask your financial advisor.

1:01:21Brian Preston:No matter what type of advisor you're thinking about, you should ask them these questions. Hey, how do you get paid? What are your conflicts of interest? How do I know you know what you're talking about? because you want to make sure once you've defined what it is you're looking for, that the person on the other side of the table has set it to deliver that thing that you're looking for. And so it's a free resource. Go out there, check that out and use that as sort of like an interview guide as you're having these conversations.

1:01:45Austin Hankwitz:I absolutely love that because to your point, unfortunately, there are financial advisors out there that are predatory if it's with their fees or maybe they're not fiduciaries. Like a lot, they get paid on the backend by different types of funds that they recommend, right? There's a lot of little things that people don't understand as it relates to how some of these financial advisors get compensated and why they're wanting to put you in specific products. But I could not agree more. And I think it's really interesting. I want to get you all's perspective on this as you all are doing this. We've seen companies that are offering, you mentioned the transactional stuff, right?

1:02:17Austin Hankwitz:For$250 an hour, a fiduciary will sit down with you and sort of go through the motions. Or I think, you know, I'm not going to name the name of the company because they're not sponsoring. But there's companies out there that will, hi, give us$3 ,000. We'll give you a whole financial picture, things like that. So how is that? Is this a new trend you guys are seeing? Because you guys have been in this space a lot longer than I have.

1:02:38Bo Hanson:Look, there's been disruptors. And this is kind of the same thing with what's going on with AI right now, too. First, it was the hourly advisors are going to replace you. And then it was the robo-advisors are going to replace you. Now everybody talks about AI. At the end of the day, for me, it comes down to the execution of the planning. because it's easy to create a somewhat coherent plan. It's another thing to actually turn a plan into the execution of something that creates meaningful change in people's life. And I was having a conversation with another advisor yesterday. Reby was on that call with me too, and we were talking about it.

1:03:13Bo Hanson:He was like, yeah, it's the same thing. That's because we were kind of talking about trends that are going on. He's like, I had a wire transfer that, you know, it was like 10 calls to make sure this wasn't a crooked transaction. And I think about how we have to massage the paperwork for so many of our clients on how you do key transactions when you're consolidating health savings accounts and when you're doing Roth conversions, when you're actually reviewing the tax returns for clients before they hit the file list. Because you might know, you, the advisor, might know more about the investment transactions or the interaction of all the investment income with IRMA or Social Security than even the tax preparer does.

1:03:50Bo Hanson:So all those things kind of come into play. So it's back to the execution. Now, maybe we get to the point, but I get excited. I even have an optimist. I'm just a natural optimist that I think even if this thing can do execution down the road, I think that just means that now we can service more people. Because right now, my restrictions as a financial advisor, that's one everybody picks on, especially us who choose the relationship side of things through AUM. I would say you have to realize we really do adhere to the Dunbar principle that humans just can only handle so many relationships well, and I can only work with so many people.

1:04:25Bo Hanson:In my time, we have more people that want to work with us than we can actually do, so we have to put governors on how we structure that. So I get excited from the technology standpoint. If something allowed us to actually reach more people, yeah, maybe that compresses the cost to some degree, which even opens it up from a cost. If it's supply, demand, and the pricing, of the flexibility of all that, the malleability of all that stuff. I get excited that we're not even seeing what could be. We're all thinking about the destruction when I see that there potentially could be access to more people.

1:05:00Bo Hanson:Because my goal always has been with this show is to be an educator and see if we can get more people making better decisions. So I get excited. That's why we can just give it away. I remember, y 'all, I've been doing this so long that you should know that when I first started going to conferences, it's probably 2009, 2010, and I'd go at these conferences and other financial advisors be like, you're just giving it away. Aren't you scared that that's hurting you for giving it away? Radical transparency. Yeah. And I'm like, no. I was like, because I think that the education is so powerful. And I know that the complexity is going to be there in what we're sharing.

1:05:38Bo Hanson:So I've never been burned by being super generous and having this optimist mindset. And I think that we'll be okay. And plus the sense of community. You guys know every, you come here every Tuesday because you know that financial mutants are different. And we're leaning into how we can expand that community element even more because we want you guys to be able to connect. We want you to be able to connect with us. And that's something that no machine is ever going to be able to replace is how do we all get together and fill that human element that makes it so special. Love that.

1:06:12Brian Preston:Love it. No, I do. This has been really awesome. Thank you so much for joining us every Tuesday at 10 a.m. Central. We'll be back next Tuesday. And until then, make sure you check out moneyguy.com because we have tons of free resources, calculators, and articles all going deeper on things that we discussed today and more. So moneyguy.com. Austin, thanks for being with us today.

1:06:34Bo Hanson:If anybody wants to know about your stuff, Lay it out there.

1:06:38Brian Preston:Where can they find you?

1:06:39Austin Hankwitz:Every Monday, Thursday, and Friday, we're publishing new episodes of the Rich Habits podcast on Spotify, on YouTube, on Apple. Go check out the Rich Habits Network, a place for our biggest fans to have extra coursework, participate in weekly live streams that my co-hosts and I have. Go check out gritcap.io, which is the URL of my newsletter called Rate of Return. And just check out Austin Hankwitz on the internet. Guys, we have a blast. I think you can see.

1:07:06Bo Hanson:Thanks, everyone. So fun. Yeah, this is great. Can't wait to do it again. This is a lot of fun. I'm your host, Brian, joined by Bo and Austin Reby, the rest of the content team. Money Guy, out.

1:07:19Brian Preston:The Money Guy Show is hosted by Brian Preston and Bo Hanson. Brian and Bo are partners with Abound Wealth Management. Abound Wealth Management is a registered investment advisory firm regulated by the Securities and Exchange Commission in accordance and compliance with the securities laws and regulations. A Bound Wealth Management does not render or offer to render personalized investment or tax advice through The Money Guy Show. The information provided is for informational purposes only, may not be suitable for all investors, and does not constitute financial, tax, investment, or legal advice.

1:07:48Brian Preston:All investments involve a degree of risk, including the risk of loss.