56 Minutes of Money Wisdom for High-Earning Couples

24:37Which is the thing you talk about. But by the way, you were giving me credit for these meetings. They still occasionally end in fighting. They don't always end well, which is like, we are on the same page to discuss it, but we are not always on the same page of our wants. Sometimes there's decisions where there's a winner and there's a loser. And so it's like, how can we both win in one of these situations? but it definitely becomes like a who's the money person. And it's like, not just like who's earning it, but who's driving. I guess it's frustrating to have, if I'm the one driving all the time, I'm like, I want you to care about this as much as I care about this.

25:16Sam, I'm with you. Okay, listen. So in most relationships, there is one money person. And this is a huge mistake. Again, most of us think of it as something that's just divided, like every couple does. We all divide tasks just on time, intuition, et cetera, or just habit. But money, when I got together with my wife, of course, it would have been natural for me to be the money person. This is what I do for a living. I think about it every day. And I very early on realized that would be a horrible mistake. And I told Cassandra, I said, we're going to do this together. I'll tell you why. Number one, one day I'm going to get hit by a bus.

25:57Some shithead from Goldman Sachs Wealth Management is going to call her. Oh, we'd love to help you be a steward of your portfolio. Fuck you, wealth management industry. So she knows exactly about expense ratios and fees. Otherwise, I'd be looking up from hell saying, what's about to happen right now with this conversation? But I know she's an amazing manager of money. Then I wanted us to have a second set of eyes. No matter how good you are at money, it's always better to have another person make decisions together. And third is just way more fun. Way more fun to be doing this together. Where do you want to go next year?

26:37Who do you want to be generous with? All those things. So it's a huge mistake to be the money person in a relationship or let your partner. And that is becoming bigger and bigger because a lot of men die early leaving in heterosexual relationships, they leave their wife often defenseless. The wife doesn't even know where the money is, much less how much, much less what to do with it. Bad, bad situation. So that is a big no-do. Dude, I was telling Sarah the other day, ever since we had a kid, I had this weird dream. It sounds weird to even say it, but I had this dream that she dies and like three weeks after her death, I'm like, I don't even, so the way out my household works is I focus on making the money.

27:19And she is in charge of tracking and spending it. So paying rent or mortgages and things like that. And when she died in my dream, I'm like, who do I pay this rent to? Or do you know what I mean? I was like, I literally don't know what health insurance provider we have and how they get their money versus how... Or who's our dentist? You know what I mean? I didn't even know certain things like that. And it honestly freaked me out. And I couldn't imagine being on the other side of that, of like, how do we earn? Exactly. I mean, it's kind of funny when you say it, but it's not funny if you're the person who doesn't know where the money comes from or how are things supposed to be paid.

28:00And it's actually terrifying and very, very bad situation to be. So, all right, let me talk about the monthly money meeting and how to do it. It's quick. It's 60 minutes. So you're kind of moving through these things. I have six quick, seven quick steps. It's very easy. All right. First off, appreciation. kind of unexpected always start off with something you appreciate about your partner look at sam's face right now sam's go what the fuck is this woo woo weirdo talking about move to lma about appreciation where's the crystals i laugh because we do that uh and it's definitely still uncomfortable oh yeah okay fine damn impressed like i think you told me about it like i've been doing we've been doing these for years but i like i'll like you or someone else like share something and i'm like, I'm going to add that.

28:47Yeah, I'm thankful. I'm so, I appreciate that whenever we travel as a family, you always make sure we get to the airport at the right time. Simple. I mean, you cannot say enough nice things. All right. So that's number one. Number two is partner one updates, quick things. Usually each partner will own one part of the financial system. It could be they own how much you spent on groceries last month, or it could be making sure that this account flows to that and changing things. Just a quick update. If something has not gone right, like, hey, we agreed that we're going to spend 700 on groceries last month.

29:20I actually wasn't able to hit that. It was 850. Here's what I'm doing about it next month, right? They own it. They get ahead of it. They talk about what they're doing as a plan. Shine a light on it. Don't let it fester. Partner two does the same thing. Three, then you're doing joint updates. So are there any things we need to talk about together? Hey, what's up with your 401k? Are you having the correct match? That kind of thing. Five, review our numbers. So like, are there any critical numbers? I actually don't look at many numbers on a monthly basis because we plan it on an annual basis and we look at it on a six month quick check-in because that gives us time to adapt if we need to.

30:01But I'm not trying to look at the freaking price of noodles in February. I don't want to talk about that. Six open issues, anything open, and then seven, wrap it up. Always end with, I love you, I appreciate you. Give each other a hug. Start to align money with feeling good. And it might feel cheesy at first. You do it four, five, 10 times, you're gonna actually start to feel it. You tweeted out this thing, or I think it was from the book that you shared, but it had percentages for, it had like benchmark numbers of like, save this percent, invest this percent, spend this amount on guilt-free things.

30:42Can you do those same percentages, but for a couple that earns 300 or let's, we're actually going to round up for math,$500 ,000 a year. Okay. I'll give you the standard numbers first quickly. And then let's talk about how things change if you earn more. So there are four key numbers you need to know in your financial infrastructure. I love it. Just four. You don't need to track the price of pickles. The first is fixed costs. That's rent, mortgage, groceries, debt, auto. That's 50 to 60 % of take-home pay. Next up is investing. That's 5 to 10 % of take-home pay. Of course, that's where real wealth is created, so I would prefer the higher the better.

31:20Next is saving. This is an emergency fund, saving for a down payment, even saving for a kid's activity or a vacation, 5 to 10%. And finally, my favorite one of all, guilt-free spending. this is eating out, travel, buying around to drinks, whatever, 20 to 35%. So for me, the beautiful part is if you can fit it in like Tetris, fantastic. You can buy whatever you want as long as you're hitting these key numbers. It's very freeing. Now, when I look at couples or individuals who make a lot of money, 500K as an example, there's a couple of things that are common. The first is their fixed cost number tends to go lower because their income is higher.

32:02So instead of 60%, or in some cases people have 60, 70, 80%, their number is like 50%. It's on the lower end of that range. Once in a while, depending on where they live, it can even be lower than that. Their investing is typically higher. People who are making that kind of money, typically not always, but typically tend to be a little savvier with investing. And because the price of bread is basically the same, like, yeah, you might spend double the price on bread, but you're not going to spend 50 times more on bread. Therefore, you have more money left over. Typically, that goes into investing.

32:38Some of them save aggressively. So, sorry, for investing, they might have 15 % of take-home pay. If they're in the fire community or they're very aggressive, they might go 20, 25 % of net pay. I like to see that number around 20 % as your income gets up because when you have that kind of money, take it, make it work for you. The earlier you can do that, you can really let it ride and grow. Savings, 5 % to 10%. Sometimes they go a little bit higher. You know what I often find with guilt-free spending, they can certainly be spending at the higher end of that. 35 % of 500k is a lot of money or 35 % of the take home.

33:16Oh, these are all post-tax. Correct. Post-tax. sometimes I will see people who are investing like crazy they're doing 40 percent or 30 percent of take-home pay and I'm like there's a lot of money your savings is really high and then I get down to the bottom of the conscious spending plan and they're spending like eight percent on guilt-free spending and I'm like what do you guys do for fun and they're like they always say the same thing well you know we like to go we go to the park we actually have money set aside and then I go like this. Do you actually spend it? And then they both look down because they wait till the end of the year.

33:53They don't spend their money. And then you know what they do with the money that's left over from guilt-free spending? They sweep it right into their investing. And they go, we're so good. We don't spend money. We invest it. That's a big mistake. You need to learn the skill of earning money. You need to learn the skill of managing money. But you also need to learn the skill of spending money meaningfully. So if you're making 500K, you should be learning how to spend that on the things that are meaningful to you. How do you get someone who's a worrier to start spending? It's very difficult. Let me tell you why it's so hard.

34:24I frequently have multimillionaires who come on my show and sometimes one or both of them is like, we want to learn how to spend more. And people listening are like, what kind of freaks don't know how to spend money? That doesn't make any sense. I'm one of them. Yes, it's a very common affliction. And it is an affliction because there are a lot of reasons for it. often people grew up financially insecure, family only said we can't afford it. The only way they've related to money is scarcity. But when the numbers change, they change faster than the psychology changes. The problem is that you can get to a point where you have more than enough, but you're unable to actually spend.

35:04And I see several things happening. One, I see people who realize at a certain point, like this isn't, something's wrong. We have these numbers on a spreadsheet, but it doesn't feel real. I went through this where it was like as an entrepreneur who sold. So my business, I sold it and made, I had a windfall. Leading up to that, it was like, I think I ran the company for four years. But something like the first three years, well, the first two years, I paid myself roughly$24 ,000 a year, which was so stupid. People should not do that because my business was doing fine. I could have paid myself more.

35:41And so the third year was more, but it was like$100 ,000 a year, which in San Francisco is not like crazy amounts of money. So there was like a long period of like, not a lot, not a lot, not a lot, a lot. And then it took like another three years to acclimate to the reality. I love that reality. It's pretty unusual. Most people don't get the windfall like you did, but it may as well be the same thing. because they look at the numbers and they're still feeling the way they felt when they were seven years old, sitting around the dining table and their mom or dad said, how dare you ask for that? We can't afford that.

36:18And so I know you've been on a journey to spend more money. It's awesome to see. You're talking about menswear now, talking about taking your family, traveling. Like that's not easy. That is really not easy. What I find is the ultimate thing that happens with folks is they start to ask for help. And they look around and they make two mistakes. One is they ask for help among a bunch of other frugal people. So I see this in the FIRE community every day. Hey, everybody, I realize I've crossed my FIRE number, but I can't seem to know, like, I can't seem to bring myself to spend money. And then within three comments, people are like, you don't actually need to spend money.

36:59It's actually better to save. You should save it because who knows what healthcare is going to cost in 2065. I'm like, you're asking a bunch of frugalistas how to spend money. You're asking the wrong community. Well, it's like asking me how to go camping. Don't ask me, I have no idea. Okay, that's the first. Second is they come around and they start to actually try something. Maybe they eat out at a restaurant, whatever. And the first time they do it, it's not particularly great. Maybe they picked a bad restaurant. Maybe they don't have the palate for it. Maybe they hired somebody to come clean their apartment or house and they don't like how the person folds their clothes.

37:31Okay, that happens. So then they go, ha, this shit doesn't work. I actually, I'm a good person because I don't spend money. I don't need to do all this frivolous stuff that other people do. So they've created this self-contained tautology, which ensures that they're never going to change. There's a much better way to do it. It's to build the skills now. It's to start spending on little things, discover what you like, what you don't, become clear with your money dials, enjoy it, do it with a partner. and over time you learn that spending money as a skill is often as important as earning and managing it too.

38:06And I think that the important thing is figuring out what makes you happy. Because there's been times where I'll talk to you or me to you and we force what makes us joyful onto the other person. For example, you like fancy hotels and you're like, You should go stay at this hotel. That's just not... It's not your thing. I'm kind of... This is a fake story a little bit because you don't do this too much or maybe even ever. But it's like, go stay at this fancy hotel. You're going to love it. It's like, that's not my... I don't get joy out of that. But what I love is services. Monthly services. So for you, for example, you don't own a house because you're like, I just don't get joy from that.

38:50And I don't know what your apartment looks like there. But for all I know, it could be just a very, very modest apartment because you get joy spending elsewhere. And I think that that's a really challenging thing for people to get over. Because for example, they'll say... Here's a really easy one. They'll say, buy a home. It's a great investment. And I'll say, well, it's typically not a great investment. Or that's not the reason to buy it. And they'll be like, well, you're going to throw away money on rent. And I'm like, well, you're not throwing money away. I'm acquiring a service and it makes me happy.

39:22and I'm also like buying, I'm like, my money is now in the index fund that's growing. So like, that's a good investment. And they'll be like, so you shouldn't buy a home? And it's like, well, no, no, definitely buy a house. Just like I bought a steak last night. I bought this steak last night because it brought me joy. And if like owning your home makes you happy. And by the way, it oftentimes could be a good store of value, but like, which is a, which is just a cherry on top, But do it because you work and this makes you happy. And that's a good reason to do it. It's hard for people to understand just doing something because it brings you joy.

39:59And I've been there too. Yes, I love what you're saying. And I love watching you on Twitter because you're one of the only people who actually understands buying a primary residence is sometimes but often not a great investment. Here's what I think. I think that people use the word investing way too much. Like I have a personal trainer. That's not an investment. That's a luxury. If I were to buy a house today, that would not be an investment. That would be the most expensive luxury I have ever bought. I will lose millions one day when I buy a house. I guarantee it. I'm going to lose millions and I'm going to do it with a big smile.

40:42And you're going to be ridiculed on the internet because people know you as the guy who has, they say, but Ramit, you said never buy a home. Well, illiterate people who don't actually read what I've said. I never said don't buy a house. I said, run the numbers, then consider the non-financial. But yes, you're right. There's gonna be a big problem when I buy a house. Anyway, we use the word investing a lot to justify purchases. Like I've had people who literally said buying a mattress, a$2 ,000 mattress is an investment. That's not an investment. That's a luxury. So, and when I asked him, this got me very obsessed.

41:19How do you know if you can afford it? And do you know what people said to me? They were like, your back is the most important investment you can make. I was like, hey, when I ask a question about affordability, your answer better have a number in it. Affordability is a number, not a feeling. And what I've realized is so many of us use investment to justify purchases. But what's the approved answer to that? So my answer for an investment, I narrowly define it as something that can provide a financial return. Simple. Otherwise, here I am justifying a$3 ,000 a night hotel. Oh, their air conditioning is triple filter.

41:57Therefore, the hair on my arm doesn't stand up. Therefore, I can write a new book that makes me$100 ,000. It's BS. Same for the face cream I use. It's not an investment. It's okay to say, I like this and I'm going to buy it because I like it. That's totally fine. Now, the affordability question becomes more complicated. You have to know your numbers and you have to have your percentages dialed in. But affordability is a financial question. It is not about feelings. And for the optimizers listening, I will say, sometimes when you're talking to a partner who's not an optimizer, they wanna talk about feelings.

42:33And in the book, I emphasize how important feelings are. You've got to meet your partner where they are. You can't just talk about numbers alone. but sometimes you need to actually engage with the numbers. Feelings are good. You should spend a lot of time on them. But at a certain point, you're running a business, the business of a household, and you need to look at the numbers.

43:12e-commerce company. It's super important for us to be able to easily wire transfer, pay all our different vendors and suppliers all around the world. And the old way with our more traditional bank that shall now be named, I try it online. It would say no, it would freeze my account. Then I'd have to go in, book an appointment, speak to a specialist who would try to upsell me on something I didn't need. And then finally, after 30 minutes there, then they charge me 50 bucks for the pleasure of that terrible interaction. And now with Mercury, I just go online, push two buttons, and I'm done. It's such a seamless experience.

43:40It's very intuitive. Everything's took all the things any company would need for their financial tech and they made it super easy to use and put it into one platform. So highly, highly recommend it. If you're not using Mercury, I question your judgment. So that's it. You've heard on my first million. For more information, check out mercury.com. Mercury is a financial technology company, not a bank. Check show notes for details.

44:04How do you get over disagreements? Like if you or your wife is complaining to each other. The most common reason for these disagreements is there is no shared vision of a rich life. It's literally one episode after another of nitpicking. And the perfect example I have is a person who wrote me on Instagram DM and said, can you convince my husband to stop buying iced tea every day? I said, okay, how much does it cost? She goes, it's$5 every single day. We can make it at home. I said, okay, interesting. Hey, out of curiosity, what's your household income? And she became very cagey, but I gently asked her to share it.

44:41She lives in New York, she and her husband. You want to guess what they make? I don't know, what? $200 ,000 a year? $600 ,000 a year. So what you could see is that it's really not about the$5. To him, it was like, hey, we work hard. This is just a little treat that I enjoy every day. It's great. To her, it was values based on how she was raised and why would you spend money outside. A couple of thoughts when couples have disagreements, whatever the scale. The first is I always ask them, what is your rich life? Couples don't know. They never talked about it. They've only talked about why did you spend that much on a drink?

45:17So what do we want in our life? What's important to us? Do we want to travel? Do we want to send our kids to this activity? Get into all of that, which I go into detail on. The next is to have your accounts set up so that you don't have to have$3 conversations. Sam, you said that the audience we're talking about today makes 200 or so plus K per year. You should not be talking about$3 purchases if you're making$200 ,000 a year. If you are talking about$3 purchases, you have misaligned your money systems and you probably don't have a rich life. So the way that you set up your accounts to be united in a marriage, I highly recommend all the money goes into a joint account.

46:04And from there, you each have some of the money flow to a separate individual account, a no questions asked account, which both of you know about, but each of you only has access to your own. And if that person wants to buy the$5 lemonade or the$20 tip, it's totally up to them. That's their money, no questions asked. That is how you unify your financial relationship and also give each other a little bit of flexibility. Yeah, I did that this year. I have my own account. How did it change things? You know, I think that even though you called me an optimizer, I'm more of a worrier. And I definitely feel guilt oftentimes buying things if they're above a certain amount, maybe in the thousands of dollars range.

46:54And so I put$20 ,000 into an account because I was like, I'm somewhat newly into clothing. And I got interested in the craftsmanship. And a lot of this Japanese shit that I love, it's pretty expensive. It's like$600 for a button-up shirt, but I'm just deeply fascinated by what I'm reading, and I just want to feel and touch it, and it's interesting to me. But I would feel a sense of guilt around it. So I was like, look, I've allocated$20 ,000. I could spend this guilt-free, and so I will spend it. I still feel guilt, but it's definitely less guilt. But now at least I know that I used to feel a little sense of I'm disappointing Sarah because even though she's like on board with it i'm like i'm taking money away from from the shit that she could use for something else and i was like and i'm also like i'm embarrassed to spend six hundred dollars on like a shirt and i don't want her to know it came from all these just being raised poor uh shit that like you know it it never goes away you just like it's just like any other like daddy issues anyone ever ever has it never goes away you just try to manage it.

48:05Yeah. I like what you said about, I used to feel that I was taking away from her. Yeah. And what I see in the way you talk about it and how curious you are, because we text about this stuff a lot, is it feels to me now you are actually adding to your own curiosity. Of course, your family finances should be dialed in. Of course, you should have all your ratios working and your money flowing, of course. But we should remember that two partners have got to be intellectually, financially fulfilled. It makes them better partners. And as long as you're managing your joint money, you should be spending on your own.

48:44One of the worst things I see, this happens a lot with men, is men become shells of who they used to be. So you talk to a guy in their 20s, they have all these hobbies and interests. You talk to them by their 50s, and I go, what do you like to spend money on? They go, whatever my wife does. I go, we're not doing that here. Answer my question. What do you like to spend money on? And a lot of times they've lost all hobbies. I see that in myself. I have to fight to try to find some new hobbies because if it were just up to me, I would simply shrink myself. And so this happens to a lot of people, but especially men.

49:21And I want to encourage us to try to fight against that. When I was up and coming in my entrepreneurial journey, I used to make fun of self-development people. Would you fall in that category? And so do I. I'm going to stop playing right now. Well, no, but I wouldn't make fun of you. But just the idea of people would be like, I'm hiring an executive coach or I'm hiring a coach. I'm like, what? Man up. What are you doing? And then I started hiring a fitness coach and then a nutritionist. And by the way, a fitness coach could be as cheap as$50 or$100 a month with Future or one of these things. But basically, just someone to answer questions and then also just tell me what to do.

50:04And I started doing that for so many different things. It starts with fitness because that's the easiest application. But then you're like, we actually hired a home organization expert to come in and teach us. And I'm like, dude, this is so much better way of learning to read a book and also the book, YouTube, whatever, all that stuff to get the general knowledge. but then have an expert come in and pay them money. It could be a small sum. Like you could do a lot of this shit for a hundred bucks, like a cooking class or something like really simple on Groupon if you really wanted to, but like simple coaches to come in to teach you.

50:36But then the best situation is like some type of ongoing like class. Do you know what I mean? It's like the greatest way to learn. I love that you said that. I also love that you said, I used to say man up because just think about what's embedded in that phrase, right? That suffering is masculine and that if something is hard, it is therefore more valuable. I think there's some truth to some of that, but I also think that - Yeah, yeah, like there's great grits real. Yeah, I agree. And I think that sometimes we make things too easy for ourselves and there is value in a challenge. But I also think that there's no prize given for living a smaller life than you have to.

51:17So I really want to inspire people to think about the things that you are interested in. there's probably somebody who can help you enjoy it more. I talked to a guy in the FIRE community and he was like, I just don't really like to spend money. Like, I'm good. So I asked him, like, what do you like? And he gave me these generic answers. So I probe. I really like to ask, tell me more. He goes, I love coffee. And he goes, I buy these beans, okay? And he's like, that was the limit of what he thought he could do. I said, hey, what if you hired a barista to come to your house and teach you how to make your coffee in even better?

51:48It never occurred to him. And I love that he was receptive him. He later went on to do that. Imagine that. That's a hundred bucks, 200 bucks. Incredible. I had a book that I read about posture. I was like, I don't understand these freaking diagrams. How am I supposed, I don't get it. So I hired them to come to my apartment and teach me how to improve my posture. That posture coach was transformative for me. Did it work? That worked? Dude, it changed my life. When we think about posture, I had something that was going on. Like It became uncomfortable on my back. And I'm like, this is weird. I'm like a young guy.

52:24Why? And I finally, going from problem orientation to solution orientation is like a major shift. We can complain about stuff all day long, but there's a certain point where some people go, I want to fix. I found her. She came to my house. The first thing that happened when I opened the door, she looked at me and she was like shocked. But she's like, what? And I was like, hey, why are you looking at me like that? And she said something to the equivalent of her average client is like 75 years old. And I was in my late 30s at the time. And I said, look, I've got a little weird thing, but really this is preventive.

52:59I want to learn how to be better at this before I have problems. And that is the dream of any coach, is for somebody to come to you before they have major problems proactively. We worked together, I think, six or nine times. She taught me posture is not just about putting your shoulders back. It starts from your feet and your knees and your glutes, the way I walk. She videotaped me walking and changed that. And the pain, there's no pain there. But more importantly, I can understand how the body works a little bit better than I used to. To the last question I want to wrap up. This is funny that you put this on this doc that we had.

53:34But someone messaged me. He's a good friend of mine. And I love him to death. So I'm making fun of him. But I love him. He was like, I want to come in and talk about credit card hacks. and I was like uh you know like ways that you could save like get like five percent cash back and shit like that and I'm like I get why you you like that and like sometimes that's always fun to geek out on like cool puzzles and whatever but like that's not needle moving to me or to a lot of people like I don't give a shit about like you know two percent cash back because that means I gotta have like 10 credit cards and that's like fucking complicated and it's like just to make a thousand dollars it's like i'm gonna spend like 10 hours on this i'm probably gonna forget to pay like it just this is a fucking nightmare and um you have on here you're like fight for simplicity the more successful you get the more you have to fight for simplicity i have found that to be true and this is definitely a champagne problem but i was like some things get as you get a little make a little bit more money like you start thinking like well everyone else has a wealth advisor or Or everyone else is doing this.

54:38Or everyone else is investing in PE. Should we do these things? Should we do that? And what's funny is maybe there's some other level. I'm sure there is when you're worth hundreds or billions of dollars where it's like, yeah, you actually do need to be a little complicated. But for the most part, for most everyone listening, simplicity is the answer, I think. Is that right? I think so. I understand why when you're up and coming and young, It's fun to do credit card hacking. I get it. And it's fun to just learn new skills. I get that. But I have found that it's very difficult to turn off the grind mindset and to become much more calm and run things like a CEO, not a hustler.

55:23I find this is true a lot with personal finance people. I know people who are worth a lot of money and they still do credit card hacks. And if we look at how much they make, it's a negligible amount. Like I do it because I cannot turn the page on what got me here. And I don't realize that what got me here won't get me to the next level. So part of fighting for simplicity is that as you advance up, whether it be financially, relationally, et cetera, there are things that you simply cannot afford to do anymore. So I would not afford to be able to open up 10 new credit cards to save a total of$1 ,800 per year.

56:07That does not compute for what I'm trying to save and invest in my time. So that's very important to know. As you advance, you've probably got to stop doing certain things that got you here and think about what is the new chapter of my life. You're the man. Thank you for doing this. Thanks, Sam. Always a pleasure, man. When's the book officially out? The book is officially out January 1st. Oh, sick. All right. Two or three days. Thank you for doing this. You're the man. We appreciate you. I feel like I can rule the world. I know I could be what I want to. I put my all in it like no days off. On the road, let's travel, never looking back.

57:05Hey, let's take a quick break because there's a quote that I love I want to read you. It's that we shape our tools and thereafter they shape us. And as an entrepreneur, if you're using a bank that was built in the 90s, you're operating like you're in the 90s. And trust me, I've been there. Clunky portals, random holds on your money,$50 wire fees, and then being told, please visit your local branch. Well, that's why I switched to a different type of banking solution, Mercury. It turns your financial chores into a smooth workflow. You can do wires, invoices, cards, reimbursements, two clicks, and I'm done.

57:35If you're already using Mercury, respect. If you're still using one of the old big banks, I got questions for you. So go visit Mercury.com and give it a test drive. Mercury is a financial technology company, not a bank. Banking services are provided through Choice Financial Group, Column 8, and Evolve Bank & Trust members, FDIC.