Q&A: $18 MILLION Settlement, Afraid of AI & Paying for Weddings

25:47Of course, we'd love to see you save and invest this money. But I also lean toward like, I'm very much looking forward to like my wedding day being the coolest best day of my life and making lifelong memories with countless people that I love. And I think that's also really important to me. And so I'm spending money on that. And I'm like, I'm being intentional. I think that's like the term here to use. But if our anonymous listener here is saying they want to be as intentional as possible. And their intentionality is we want to spend a ton on our wedding despite only making$90 ,000 a year pre-tax.

26:22That's your decision. That's your choice, of course. But Robert and I think that that's on the high side. And we would encourage you if you can, that's just for the venue too. But we would encourage you to earn more money, right? Instead of finding, because you've already locked into this venue, you probably already signed a contract, they're going to charge your credit card, like breakup fees with venues are expensive, How do we now make our anonymous listener as a couple here and their spouse, how do they now earn maybe this$16 ,800 more a year? How do you go earn$1 ,000 more a month to our anonymous listeners so you can pay for this wedding between now and October, 2028, without having to sacrifice the ability to save and invest into the stock market and your emergency fund and your Roth IRA and your 401k?

27:09I mean, you're in law enforcement, so you've got the pension, right? Like there's a lot of cool things going on here behind the scenes that I don't want you to miss out on. And to do so, how do we go earn the difference? Yeah, the only thing I'll add to this, and it's not to be a Debbie Downer of any of you that just got engaged, you're considering getting married, is there is a lot of pressure when buying diamond rings to get engaged and get married. There is a lot of pressure of what the level of your wedding should be, because everyone is going to see, everything's going to be on the internet.

27:39You want to impress all of your, you know, friends from afar and all of that. But at the end of the day, you have to remember one thing. It's one day of your life. You want it to be magical. Yes, but you don't want to pay for it for years to come. So many people, they go in over their head. Austin, you're a different example because you can afford to spend what you're going to spend. Whereas a lot of people, they're borrowing money. They're putting it on credit cards or whatever they're doing to be able to pay for this extravagance for other people rather than themselves. So I just want to make sure everyone understands, do a wedding that works within you and your family's budget.

28:17And don't worry about what other people think, because at the end of the day, they're broke and they're probably putting a lot of their wedding expenses on credit cards and other types of debt. I want to make sure none of you do that. I could not agree more. The sooner you stop caring about what other people think about you, your money, your situation, the better off you are going to be. 100%. And to our anonymous listener here that's getting married in October of 2028, maybe you all want to just, you are so excited about this and this is your, like, this is your Super Bowl, which is how we're treating it.

28:51My fiance and I, like, we want a wedding that's, like, memorable and, like, we're so excited about it. This is our Super Bowl. And so maybe that's it for them here also listening October, 2028, which is fine. But the advice that I want to double down on, I'm sure Robert would agree with is like, if you're going to go spend this$37 ,800 between now and October, 2028, let's go figure out how to make it right. Let's go figure out where it doesn't take from your contributions to your retirement accounts. It doesn't take from your saving and investing. Like what's that side hustle? How much Uber can you drive?

29:23How much DoorDash can you deliver? How much pizzas can you like? What skills do you have? What can you do to make$1 ,000 a month between you and your fiance here, both of you here 500 bucks a month, what can you do? So each of you can make$500 a month between now and October 2028, and pay for this wedding with side hustles, and an extra income versus taking it from retirement contributions, or running up a credit card or doing something that's going to negatively impact you and your future. Now, Now, Robert, before we jump to our next question, got to give a shout out to public.com, the investing platform for those who take it as seriously as we do here on the Rich Habits podcast.

30:02And you can see from our last answer, we take investing so, so seriously. On public, you can build a multi-asset portfolio of stocks, bonds, options, cryptocurrency, and now generated assets, which allow you to turn any idea, any idea you might come up with or see on the Internet, into an investable index using AI. And it all starts with your prompt. From renewable energy companies with high free cash flow to semiconductor suppliers growing revenue over 20 % year over year. You can literally type any prompt and put the AI to work. It screens thousands of stocks, builds a one-of-a-kind index, and even lets you backtest it against the S &P 500, all with just a few clicks.

30:42You can think of generated assets like ETFs, but with infinite possibilities. They're completely customizable. They're based on your thesis, not someone else's. So go to public.com slash rich habits and transfer your portfolio today. That's public.com slash rich habits. Paid for by public investing. Full disclosure in the podcast description. All right, Robert. So our next question comes from Michael B. Michael B says, hey, guys, just started listening to the podcast, and it has opened my eyes to questions that I didn't even realize that I should be asking. I thought I was doing the right thing by just investing, but now I'm questioning if my money is going to the right places.

31:18So please let me know your thoughts. I'm 36, married with two children. I have$25 ,000 in a Roth IRA that I invest$300 a month toward. I also have a 401k through an employer with an employer match. I currently have$18 ,000 in that 401k. I also recently opened up a joint investment account for my kids that I'll contribute$200 a month toward instead of a$529 plan to provide some more flexibility. Aside from just increasing my contributions across the board, the two main questions are if my investments are in the correct places and if my recent move to Northwestern Mutual was a good choice. Uh-oh, here we go.

31:58I just transferred my Roth over to Northwestern Mutual and it's now invested into American Fund's 2060 Target Date Fund A with a 72 basis point expense ratio. My 401k is 27 % in TD Bank Institutional Money Market and 73 % into Vanguard Target Retirement 2050 Fund should these funds be redirected to other places. Secondly, I thought I was doing the right thing by working with a financial advisor and I appreciate the life insurance and overall financial insight, but I'm wondering if I'd be better off with my investments being through public.com or some other platform where I can invest with less fees and more autonomy.

32:39I know I've left you with a lot of my overall financial picture, but those are my two questions at this time and I'd really appreciate some knowledge that you guys could share on my situation. Thank you so much, Michael. Robert, I'll let you start and I'll bring us home. Michael, Michael, Michael. I wish this question was, I'm considering moving all of my funds to these Northwestern Mutual new account under this advisory, but you already did it. So here's my takeaway. Northwestern Mutual is very insurance first, investment later, and they do push a lot of mutual and target date funds. I don't like them.

33:19I think they underperform the market dramatically. I think that they leave too much money on the table, especially when someone is younger like yourself at 36 years old. So for me, I think all of this is going to cost you tens of thousands, if not hundreds of thousands of dollars over the next 20 years of your investment horizon if you don't make the change back. Now, I'm not saying financial advisors are bad. My family owns a fiduciary firm and we crush it for our clients. But the difference is this is a set it and forget it. So these Northwestern mutual agents can be on the golf course by 3.30 every day, sipping their whiskeys because they just want to make it easy and collect their fees.

34:01I personally do not like target date funds because they don't adjust for wars and COVID and changes in your lifestyle. It's a set it and forget it. And it's more of a, we don't want to lose your money because we want to collect our fees. not we want to make you the most money with your money over the next 20, 30 years. So for me, Michael, I would really look at unwinding this. You can do it on your own, especially with all the tools we have now. Once you get over a million dollars in net worth, then maybe consider going to a fiduciary company that's going to really do all the right things and help you make the most money because they win if you win.

34:39But this is not the strategy. And I appreciate you bringing this to us. I wish it would have been preemptively, but that's okay because you can always make the changes that you need to make to feel better and really get where you want to get financially for your wife and kids. I think that's great. I just get pissed off because I know and agree that, you know, our friend here, they said, I thought working with a financial advisor was doing the right thing. Financial advisors aren't bad. This isn't a show to bash financial advisors. But this is a show to bash some products that unfortunately a lot of financial advisors sell to their clients because that's how they make the most commission.

35:25That's how they make the most money. And when you look at something like a target date fund, first off, gross, but second off, with an expense ratio of 72 basis points, at that 72 basis points in that Roth IRA, that's going to cost you well over$100 ,000, maybe$200 ,000 over the next 30 years of investing, depending on how much you invest, max it out, performance, stuff like that. But that's$150 ,000, let's say, that you've paid to someone to underperform the markets in a target date fund. It makes so much more sense to me, Michael, for you to take this Roth IRA back, for you to roll it over into public.com, contribute up to the$300 or$600 a month.

36:13$625, I think, is the max that you could do to annualize it at$7 ,500 a month. But if you can only afford$300, I guess that's okay. I would much rather see you have autonomy. You're smart enough to do this yourself. You can choose the funds. They're VOO, DIA, QQQ, VXUS, right? That's the S &P 500, the NASDAQ, the Dow Jones, and the international stock market. You've got those four funds in your Roth IRA. You're doing 99 % of what any other financial advisor could do for you. Sure, there's some financial advisors that are like, oh, I'll buy these strategies. We'll do these crazy things and like whatever, like cool, go, have fun.

36:52But 99 % of people need just a couple funds that track US capitalism that's going to compound over the next 20, 30, 40 years into their retirement. And that's what you have to do here. The thing that makes me so mad, Robert, is this 401k, 27 % in a money market? Why at the ripe age of 36 years old, do you have essentially a third of your 401k sitting in cash? What? So that's what we're trying to help you understand here is you're young, you have 30 more years of investing, 30 years. Go take all of your money, put it in the S &P 500, the NASDAQ, the Dow Jones, and some international stuff and forget about it.

37:31That's all you got to do. It's going to cost you maybe three to seven or nine basis points, depending on the funds that you end up buying here. They're very, very cheap ones like SPYM. I think it's two basis points. QQQM is a really cheap one. VXUS, I feel like is relatively cheap, but you're going to save so much money in fees by just doing that, not to mention the AUM fees that these people are going to charge you on top of the expense ratios of the expensive funds they're putting you in. I mean, you're probably going to save one and a half to 2 % all in here, annualized, depending on what funds you choose and what they're charging you and stuff.

38:09So move your money out of there. You can do this. You're smart enough. You're capable enough. You can learn the plan. You can execute the plan. You can do this, Michael. And I want to add one more example, Austin, because it really burns me up when I look at this. The average target date fund for that year, 2060 underperforms the S &P 500 over the last 10 years by 4%. 4%. So for anyone listening, that's getting told to get into a target date fund and you're younger, look at it this way. For 20 years at 4%, that's 80 % of returns you're leaving on the table through this target date fund on top of the additional fees that Austin talked about, the AUM fees that are going to be on top of these high expense ratios.

38:57So keep that in mind. This isn't a what are the fees right now today. It's what is it costing you over the next 10, 20, 30 years of your investing lifetime in these underperforming assets. I just looked it up to 9 % in bonds. Why in the world, if someone's going to retire in 34 years from now, that they need 9 % of their portfolio in bonds. What risk are you trying to offset knowing that you don't need this money for 34 years? Like what, like that's, don't even get me started, Robert. We got to answer the next question here. That's right. We got Brian. Brian, Brian coming up here. Hello, Robert and Austin.

39:40I'm a new listener, 43 years old. My wife is 42. I don't really have any investments to speak of. My wife has around 50 ,000 in a retirement account, but it's not currently invested. We have$35 ,000 in credit card debt. We owe$375 ,000 on our home with no emergency fund to speak of either. I'm a disabled veteran receiving VA disability and social security. My annual income is$95 ,000 a year net after taxes and my wife's income is$102 ,000 a year gross. We have three college-age kids and three kids in high school. Recently, I was awarded a settlement from the United States Victims of State Sponsored Terrorism Fund.

40:17The award after lawyer fees is $8.6 million. My wife and kids are going to receive similar judgments next year. We anticipate that my wife's award will be around$4 million after lawyers' fees in each child will get between$1 and$2 million. My wife and kids' award numbers are just estimates. This is paid out annually in the first quarter of every year. The payments are between 0%, which is very rare, and 5%. The award money is not taxable. I'll break down the math for my award only since these are the true numbers we have now. And then Brian goes on to break down 0 % up to 5 % of that 8 million plus reward money there and kind of what those numbers are.

40:55I could receive any of these amounts every single year. My wife would receive the same percentages based on her award amount as well starting in 2028. The kids will receive the same based on their award amount. Our question is, given our situation described above, what would you do with the money we will receive each year from the settlement? Thank you so much for your input. I love your show and I'm excited to hear your advice. Thanks, Brian. Robert, kick this one off for us. Yeah, this is a tough one because even though these are massive numbers, they're going to be broken down in installments over years.

41:25And so where it gets tricky in this instance, when people see a much smaller number, so if we pick like the middle of the road, 3%, Brian would get$258 ,000 in that year. So then that smaller number, even though that's a really nice number and it's a lump sum, a lot of times people will squander it because they're thinking, oh, I got 258 grand. I'm going to go buy a$150 ,000 boat. Then next year, they're like, we got 258 grand that year. I'm going to go upgrade the cars. And you continually blow that money, kind of like what we see, I think, with athletes and rappers and people get these lump sums when they get these signing bonuses.

42:01So the way I would look at this, I would first and foremost, because Brian and company are 43 and 42 years old, I would take the first three years of payments and try to invest every single bit of it or close to it. they can reward themselves, upgrade the bathroom, do whatever they want to do. But I would try to invest a high percentage of it in the first three or four years to get it compounding and get them to that multimillionaire status and net worth. Because then that way later on, as the payments are still coming in till we get to these lofty numbers, then they can play around a little bit because they've already built a massive base to make sure that they never blow through this money Where to invest it?

42:45With this much money, I would probably see a really good shop around for a good advisor to get their opinions. Make sure they're a fiduciary so you're not getting put in these target date funds and you're not getting charged all of these commissions. Or do a lot of research on your own and keep a high percentage of this invested and get yourself diversified. Make sure you've got, you know, some dividend funds through NEOS. We love that. Some income earning funds. Make sure you have all the bases covered in the traditional funds like VOO, QQQM, AIQ, some of those. And really get yourself diversified in that first three, four, five years to make sure that this money is generational and is around for all the kids.

43:28And even then, I would also look at for the children that are above 18 years old, I'd get their Roth IRA maxed out year one. And I would do that every single year for them until they get all of their money. Because you mentioned there were different estimates for them. But just get diversified, get protected, and be bulletproof first before you go out and start spending it like it's never going to run out. That's a wonderful breakdown, Robert. I'm going to be a little bit meaner. Brian, you guys are taking home$15 ,000 a month. Taking home$15 ,000 a month and you have no money. You're$35 ,000 in credit card debt despite$15 ,000 a month hitting your checking account every single month.

44:08I think that you all have a spending problem. I think you all do not have a budget. I think for the last 43 years, you guys have just kind of been flying by the seat of your pants and this looks cool. We're going to buy it very emotional with your money. That's how you end up in$35 ,000 of credit card debt taking home$15 ,000 a month. So here's what has to be true for this money to be a blessing and a generational, you know, transformational opportunity for your family. One, you all need to actually sit down and get right with your money. You need to have a budget. You need to say, my name is Brian.

44:44This is my wife. We take home this$15 ,000 a month and we know where every single penny is going. We know how much we spend on, because again, you have six kids. I get it. I'm not trying to say that, you know, 15 ,000, like, what I am saying is like, you guys have$35 ,000 of credit card debt and you take home 15 ,000 a month, despite having six children, three of which are out of the house, by the way, but despite having six children, like, there should be no world where you have no retirement, no emergency fund, and your$35 ,000 in credit card debt, if you were prudent and intentional with your money.

45:24And that's okay that you've done this, like you're 43, like this big opportunities. And you can turn your life around at any point, even without this money. But you have to make the decision today. We are going to be intentional and prudent and smart and responsible with the money we do have. Because if you're not responsible with the money you do have right now, more money is not going to solve your problems. It's going to make them worse. Money is a magnifying glass. And if you are irresponsible with your spending, you are irresponsible with how you approach, you know, whatever, like money is only going to make that worse.

46:02That's why, you know, you've seen people that come into a lot of money, they either squander it to Robert's point or they become jerks. And they're just like, because like money is a magnifying glass. And right now, your situation, I don't want to magnify that. I don't want more debt. I don't want no money. I want you all to be very, very prosperous. And so here's the step-by-step I would do. Brian and your wife, you both need to sit down and need to say, okay, for the last however many years, we've been spending like there's no tomorrow. Despite$15 ,000 a month coming in every month, we've been doing whatever that's ended up here at this$35 ,000.

46:40Let's now sit down and go look at the last three months of bank statements, credit card statements, debit card statements, everything that has left this household. Don't beat yourself up over it, but understand it. Why are we spending so much on this? Where did this money go here? Was this truly an emergency that we had to swipe the credit card for or was it a want? Did we really need to spend this? Did we have to go on this vacation or whatever it might be, but like understand where the money went. That's like step one. Step two is to now build a plan that has this$15 ,000 a month, 100 % fully covering every single monthly expense and investing into the future.

47:20Because if you can live off of$15 ,000 a month at 42 and 43 years old with these children, this new money, the$258 ,000,$400 ,000,$100 ,000, whatever it is, like that Robert had mentioned, this new money is going to be the biggest blessing ever. you're going to be able to invest a ton make a lot of change in your community you're going to be able to you know set your family up for generations to come like which is great and i'm sure you deserve this money i'm not questioning that at all but what i am trying to really emphasize here is if you do not have your house in order before the money comes in this new money is only going to make your house messier your spending is only going to get messier and you know robert and i talk about this all the time is like and i know we had this conversation maybe a month ago inside the Rich Habits Network.

48:04As people get more money, they feel like they can get kind of wishy-washy with their spending. And like, we'll figure it out. We'll make the money off in the back end. Like it'll wash out. Everything's fine. Like more money's coming in the future. But the most successful, the wealthiest people that I've ever met are so specific with their spending. They understand every dollar. They renegotiate their insurances every two years. They shop different wireless bills like Wi-Fi. They're being as prudent with their money as humanly possible. And Brian and your wife, you both need to be very, very, you need to get your house in order with your budget, your spending.

48:42You have to understand all this before the money comes in, because I'm so afraid that once that money starts hitting your checking account, you're going to say, whoa, look at this Paragon boat we could buy. Whoa, we could upgrade the mortgage here. Let's go buy a bigger house. We could go buy this vacation house or this thing is that, that thing is that, that technically maybe you could afford it. But what happens when the next 0 % gets paid out? I know you said 0 % is a very seldom outcome. The payments are always between kind of that 1 % and 5%, but maybe it's a 0 % one year. And now you have to go backwards because you were counting on the income.

49:18You were counting your eggs before they hatched. And that's a problem that a lot of people have when they come into money, especially when it's an athlete and you got like this annual income or, oh yeah, I can always play that next football game to offset the debt I already spent, right? Just don't spend money before you have it and get your house in order before all this new money starts coming in or it's going to be a very messy situation for you. And I'm going to end with one fact. Over 75 % of lottery winners in America blow through the money and go broke within five years, over 75%. So take that with you.

49:51Our final question comes from Levi J. Levi says, my name's Levi and I have a question for your podcast and I think many people in their 20s could benefit from your response. I'm currently 23 years old, making$140 ,000 a year doing marketing and recruiting for a healthcare company. I am fairly unhappy in my job and I've been interested in buying a business, not a startup. Since I started working here three years ago, I've been maxing out my Roth IRA, investing 3 % to my company's matched 401k, then putting the rest of my saved income into index funds and ETFs. With the rest of my saved income each month, I'm struggling to decide if I should start saving to buy a house so I can stop throwing$2 ,000 a month away to rent, or if I should start looking for SBA loans to buy a business.

50:37Looking forward to your response. I love the show. Robert, what would you say to Levi? I would say, Levi, you're doing a great job. You're 23 years old. You're up and running. You're thinking all the right thoughts. But here's two things I want to correct in this, and then we can break it down. Number one, I don't like the statement I'm throwing away two grand a month in rent because on average right now in America, it is much cheaper to rent than it is to buy a home. Now, I love real estate. Everyone knows that. I think everyone should own property. But in this instance, I would rather you see you get your base built first, suck it up a little bit.

51:11You say you are fairly unhappy in your job. Well, guess what? You're crushing it in your job. I would keep that job for two, three years, at least get yourself to 26, 27 years old, get that base built of a hundred thousand dollars. We talk about saved and invested in those same funds you already own because then you've got your base built. Then before I go buy the dream home or the small business, I would house hack. Let's call it 26 years old, 27 years old. I would go out and use the Fannie Mae 5 % down mortgage. So that way you keep all that money rocking and rolling. I would buy a duplex, triplex, or a quadplex.

51:48I would live in that for a couple of years, be rent-free so you're not throwing away any money. You're building equity in this property. Then after that, use the income from that to buy the dream home down the road, let's say at 30 years old, 28 years old. That's the playbook of how I would do it. I wouldn't go buy a business yet because the problem is you don't have enough money put away right now. And if you buy that business and it doesn't work out and you go all in on that business, then you're back at zero at 24 years old or 25 years old. We don't want to see that. So get the base built, house hack with the duplex, then buy the dream home, then buy the business once you have more money set aside.

52:27Because every single person that tries to buy a business early on rather than create a business, they end up usually setting themselves back two, three years because most small businesses fail. And that said to Levi, I understand you're 23, fairly unhappy, but you're making great money here, you know, 140 ,000 a year to Robert's point, let's grind. You're in your twenties. I mean, let's, let's go on that, that half decade, five year grind. I think that's a dream that every, every person in their twenties has is to make six figures at such a young age. Let's go work for five more years, put his way as much money as humanly possible.

53:02Now you're 27, 28, 29 years old, you've got hundreds of thousands of dollars saved across your Roth IRA, your 401k, and your bridge account. And now you can say, okay, I'm 28 or I'm 29 years old. I was fairly unhappy doing this marketing and recruiting stuff. What do I enjoy? Because I've already got this nice nest egg that's going to compound for me because I sacrificed for that three, four, five years. And now that I've sacrificed, I've got this wonderful nest egg. Do I want to go work in engineering? Do I want to go work in, I don't know, something else, right? But like whatever your thing is, you can still do that.

53:37You're still so very young. But to give yourself the most optionality, money gives us optionality, Robert. Money, that's really the only thing it does. It gives us the option to choose what outcome we want. And so if Levi here has a ton of money over here on the side in his retirement accounts and his bridge account, he now has the option at 28 or 29 years old to earn$82 ,000 a year, but is extremely happy versus the$140 ,000, probably by the end of that,$150 ,000 or$60 ,000 because he's going to get promoted. He's a smart guy. Now, he has the option to earn less money, but be very happy because that difference is already saved and invested over in his nest egg and his retirement account.

54:18So that's my advice I'd give to you, Levi. I completely agree with Robert as it relates to the rent stuff. I don't know if you checked mortgage rates recently, my guy, but they're pretty high. As someone building a house right now, and I'm going through that process myself, holy smokes. I promise you, renting at$2 ,000 a month is not throwing money away. When your mortgage for any house, I'm sure, around you,$400 ,000,$500 ,000 is the median pretty much nationwide. That mortgage is$3 ,200, $3 ,500,$3 ,800, not including HOA, insurance, property taxes, you name it. It's disgusting, and it's a lot of money.

54:55So just hang out with the rent, do that thing. And then if you want to do some house hacking, some duplex, triplex, quadplex action in the future, that's how I would approach real estate. But let's first get a nice big nest egg saved, giving yourself the option to do a better job that aligns with your interests and your goals and your career, making a little bit less money, if that's the case. But to do that, let's get through the next three, four, five years. Yeah, I did this exact playbook at 23 years old. I was working doing F &I finance and insurance for a car dealership. I took a demotion at 23 years old back to being a car salesman because I wanted the freedom to be able to take over a family business that I was buying out of probate.

55:37So I worked both of those jobs simultaneously, full time, nights and weekends, everything. And then at 24, I bought the quadplex, the four unit, moved into it, renovated it, owned it for like 20 years. So I live this exact playbook and it worked out great. Get the base built, get the duplex, house hack, then buy the business. Two things before you go. Shuriance.com slash rich habits to go find your term life insurance policy. If you're listening to this episode, like many of you who are asking questions here, like our friend Brian, who has a wife and a bunch of children. Brian, if you do not have term life insurance, go find it on shurience.com slash rich habits.

56:22There's going to be a link in the show notes below. The goal of term life insurance for anyone listening is if you die, this amount of money, 10, 15 times your annual income is about the size you need. This amount of money will be given to your spouse. Your spouse then puts that in the market and it replaces your annual income. And so that is how you can protect your family and say something. I've got term life insurance. Robert's got term life insurance. You need term life insurance if someone in your life depends on you for your income. The second thing to call out is the Rich Habits Network.

56:54If you've not yet joined the Rich Habits Network, what are you waiting on? Robert, we surpassed last week 1 ,000 members inside of the Rich Habits Network. We are now 1 ,011 or something like that. It's unbelievable how many people have joined us inside the Rich Tabits Network. And for good reason, we've got eight hours of video coursework. Robert and I are hosting two hour live streams every Tuesday night. We have office hours for another hour on Friday where you just kick it with us and we just chat and talk about whatever's going on. We're also investing into pre IPO companies. We're actually investing right now into a BCI company, which is a brain computer interface.

57:36Think like Neuralink with Elon Musk's Neuralink. It's a competitor to Neuralink. So we're investing in that company right now. We're so excited. It's our third time investing in this company inside the Rich Habits Network. So if you've not yet joined, what are you waiting on? There's a thousand other listeners now inside the Rich Habits Network. Go join them. Yeah, I just had a DM from someone that newly joined and they said that they've been watching the podcast for years. They've been watching what's going on in the Rich Habits Network for two years and they finally jumped in and got in and were so excited.

58:07I'm I'm like, why did you wait two years? They're like, I don't know. I just didn't know if it was for me. I'm like, the network is for anyone that loves this podcast and wants to learn more and advance your knowledge and your opportunities. I mean, the seven-day free trial should be the answer for everyone listening to try it because there's zero out of pocket. If you want to come in and kick the tires and see that it's as awesome as we say it is, that's what you should do because you can always leave if you don't find the value that we think you're going to find. So I'm so excited about it. We're across that magical threshold of a thousand members, which is really, really cool for us.

58:44So make sure you check it out. Thanks, everyone, for tuning in. And we'll see you tomorrow for our episode of the Rich Habits Radar.

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