How to Spot a Fee That's Robbing You, Insure Your Kids' Future, and Retire Two Decades Early (Money Q&A)

24:01You can ensure that your daughter has access to it as well. And you can update your wills, your life insurance beneficiaries. You can update, you know, all of those different things towards the trust. So the trust is the owner. For example, for my kids, which is a very different trust, but for my kids, we have a trust in place that allows my kids to get our assets, and our money if anything were to ever happen to us. And I have it set up in a way where you can customize it, where each kid is going to get a certain amount of money at a certain age. It's going to be 33 % at a certain age, 33 % at another age, and 33 % at a third age.

24:35And you can customize these in any different way that you want to. And so the beneficiary of all of my accounts is actually the trust. It is not my kids anymore. It is the trust that we have in place. And so then you have the ability to have this. And so you can think about it as a middle person. The trust is the middle person between your assets and your son so they're not designated directly to him. But also just making sure that you have like if there's grandparents in play or if there's other folks in play who you feel as though could give money to your son, make sure they understand this concept as well, because any person who names your son directly in their will can accidentally just disqualify him.

25:10And so it's really important that everyone gets their dollars pointed at this trust. So if you are have other people who like maybe a distant grandparent or an uncle or an aunt who want to give money to your son as well, they need to point those dollars at this trust. So everything is kind of going towards this trust is the key. Now, one thing you can do is you can add an ABLE account for everyday expenses and accessible savings, things like that. So for anybody who doesn't know what an ABLE account is, this is a tax advantage account that your son can own where the balance does not count against SSI up to a hundred thousand dollars.

25:45So you or he can contribute up to$20 ,000 per year inside of this account. And this is ideal if there is money that he needs for day-to-day care or if there's money that he needs to access. It gives him some independence in managing his own funds. And you have the ability to be able to get some tax benefits. You have the ability to be able to kind of ensure that he gets his needs met with an ABLE account. And I'm sure you've potentially used this before. Another thing I would do is prepare what is called a letter of intent. A letter of intent isn't a legal document, but it may be one of the most important things that you create because it is a letter of intent is where you write everything down, everything that you would want a future caregiver to know, his routines, his medical history, his likes and dislikes, the things that soothe him and give all this information as much as possible because this document is gonna outlive you.

26:34And having this in place is really important and you can have it to where any future caregiver can get this letter of intent in this document. I think it's really important to have. Also thinking about your daughter as well, planning your daughter's role thoughtfully. I know you want to make sure that you are taking care of both of them. And so I would probably plan your daughter's inheritance separately and then decide if you want her to be a trustee on your son's trust or who you want to be a trustee on your son's trust and kind of do it in that way. But in reality, this is a complicated, a much more complicated situation that you really have to plan for.

27:04And so I would plainly tell you to bring in a professional here and find an attorney who specializes specifically in special needs planning or even in elder law, not just a general estate attorney. I wouldn't just find a general estate attorney because the rules are very, very complicated. And so we want to make sure that we find someone who can help us through this. So you're not in the dark because you want the best care for your son and you want to make sure your daughter is also taken care of. And so because of these two things, I would say that a professional is the most important thing that you can do.

27:36And it is money well spent big time. I mean, this is big time money well spent. And if you feel as though you're in the dark, they can help you and walk you through that situation. So definitely find an attorney. Try to find the best one you can in your area or your state because it's really, really important so that you're not in the dark. But I appreciate you sending in this question. If I can help in any way, shape or form, please let me know. This is something that you really want to sit down and talk to someone. So I want to talk about a scam text that I have been getting as of late. And this is going to be our scam for the week that we will talk about, a financial scam of the week that I have been getting as of late that I think is pretty interesting.

28:12And this is one that's probably been coming to a lot of you as well. And I have it on my phone, so I'm going to read it here, but it says, Dear Amazon customer. So if you're an Amazon customer out there, we are writing about a product from your June, 2026 order. Following inspection, this product falls short of quality benchmark and has been recalled for your safety. Please stop using the affected item pending review and to review the recall details, request a refund. Please open the page below. So sorry for the inconvenience. We are dedicated to the strong product safety standards. And so it gives a link to click on down there.

28:42And so I investigated this a little bit and I said, this looks a little fishy. This is something that I want to make sure I understand what the product was to ensure it wasn't like a food item or something along those lines. And so you open it up and it wants you to log into your Amazon account. But then I looked at the URL and I looked at it pretty quickly and it said it was a URL that looked like Amazon, just like it, but it wasn't Amazon. And so what's happening here is that these scammers are getting your login information. Then they're going to Amazon, logging in and stealing your credit card information that has been stored inside of Amazon or trying to, or ordering things or whatever else they can do.

29:19And so they're trying to get as much information as possible out of you. And so this is one of those things that I just want you to watch out for. This is the scam of the week. And we talk about a lot of these over time. And so it's really important to have that financial protection plan in place. As AI keeps advancing, it is one of the most important things. Now, one of my favorite ways to protect your finances online is a service called Delete Me. So if you haven't heard of Delete Me before, what they do is they go to data brokers and they remove your personal information. So if you Google your name, if you Google your address, if you Google your phone number and put it in quotations, you're going to see your information pop up on a ton of different websites.

29:58These are data brokers, and these data brokers can sell your information to anybody out there. And in fact, many times, if a financial scammer out there gets a piece of your information, like your address or your name, they can try to find the rest of the information to put the puzzle together so they can open things like student loans in your name, or so they can open things like credit cards in your name. I know because I had my identity stolen, which is why I'm so passionate about this. and so if you go to joindeliteme.com slash PFP20, you get 20 % off Delete Me. But they gave me these reports that shows me how many hours they have saved me and it's been hundreds and hundreds of hours every single year because it takes a lot of time to get your information removed from those websites and a lot of hoops that you have to jump through.

30:39But they do it all for you. So again, go to joindeliteme.com slash PFP20. They have been a longtime sponsor of this podcast and a sponsor that I absolutely love and have been using for years and years. All right, the next question is from Gayathri. So hi, Andrew. Currently, I am wondering, is term insurance worth it and how much to take and until what age should I take it? I am a 43-year-old female and I have no health issues. So thank you so much for the kind note. And this is gonna be something where I'm gonna explain step-by-step right now how to think about term insurance. So I have my term life insurance through Policy Genius.

31:14Policy Genius has been a long time partner of this show as well. And I have used them for a long time. But you wanna start with the only question that matters for most people. Does anyone depend on you financially? Okay? Because if someone depends on your income, whether it is a spouse, whether it is a child, whether it is an aging parent, whether it is a business partner, those are the situations where you would likely want to have life insurance. For most people, you don't want to get whole life insurance. You don't want to get all these different expensive life insurance plans. Instead, you want to look into something like term life insurance.

31:49The way that it works is that it's going to cover you for a specific time period. So let's say, for example, you're 43 years old and you want to have term life insurance all the way up until the age of 60. Well, if you're looking at that, that means that term life insurance is going to cover you for the next 17 years. The thought process is that if you get term life insurance, it's going to be so inexpensive. Like, for example, mine's 30 bucks a month for about a million dollars worth of coverage. And so when I look at this, I'm saying to myself, okay, well, I've got this timeframe where I got this life insurance policy when my son was born at the age of 30.

32:21And I am going to have it all the way to the age of 60. By the time I turn age 60, my portfolio is going to be large enough that nobody is going to need life insurance anymore because my portfolio can cover everyone's living costs and we're living off of it and all those different things. And so most people say, hey, why don't you get term life insurance? It's cheap. And then invest the difference. And that's going to help you accelerate your portfolio and grow your portfolio over time. And so if you feel as though, someone is depending on your income, then you got to figure out how much coverage do I take out?

32:50Because if you were, if something were to happen to you during that timeframe, you want to make sure that your kids are covered or your family members are covered. And so they aren't going through really hard financial struggles. And typically my rule of thumb is anywhere from eight to 12 X, what's your one year income is. So you can take the number that you make every single year. Let's say it's a hundred thousand dollars per year, multiply that by 12 and you want$1.2 million worth of coverage. And you can do this on each family member. So if you want life insurance and then your spouse wants life insurance, you each can do your individual policy and multiply that number by each individual person.

33:25That way you have enough coverage on hand. So 10 is like right in the middle. That's the range that you can look at. 12 is if you want to be a little more conservative and just make sure you have enough. Term life insurance is cheap enough that if you're young, going to 12 is great. But if you feel as though the cost is too high to go to 12, you can always go to 10 and be okay there. So for most people, this lands anywhere from 500 ,000 to a million dollars in play that can help with this scenario. Let's say, for example, you have a 12 year old and you're 43 years old. Well, if you have a 12 year old and you're 43 years old, they really only need about a decade or so of coverage.

33:57And so if you say, okay,$500 ,000, that's going to help cover living expenses. That's going to help cover, you know, college, all those different things, then maybe that's enough. But if you feel as though you need more than that would be the way to think about it. So 10 to 12 times your income is the key here. And I think the length of time is really important as well. So for most people, you do it all the way up until you feel as though your portfolio can cover everything else. So when you map this out, a lot of times people will do it up to the age of 60 or 65, because that's when they plan on retiring.

34:27Then they don't have to really worry about it anymore, because then they know they have enough portfolio value there to be able to hand it down to their kids or their family members if they need it. And typically, your kids are out of the house or they are old enough by them. So those are the two things is looking at when the people who depend on you won't need it anymore. And so if they're going to be an adult, or if they, if your portfolio is just going to be large enough that it can be handed down to them and you don't have to worry, then those are the two scenarios where you can think about it.

34:50Now, if you have a really large portfolio now that you also probably don't need it, unless you just want to have it on hand to be safe, because that large portfolio can help take care of them as well. So those are just some of the scenarios and some of the things to think through as you go through this And independent brokers are the best place to look for these. You know, Policy Genius is where I did mine. They made it super simple and they're super cheap. So that's why I like them. But if anybody depends on your income, you definitely want to look into this and you want to make sure that you were doing 10 to 12 times your income.

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37:52It's kind of amazing how much can change in just a single year. Every summer, the kids are a little bigger, a little more independent, and life looks a little different than it did the year before. And it reminds me that while we can't predict the future, we can prepare for it. That's one of the reasons I like PolicyGenius. See, PolicyGenius isn't an insurance company. They're an online marketplace that lets you compare life insurance quotes from some of America's top insurers side-by-side for free. And their licensed team helps you compare coverage, prices, and terms, answers your questions, and even handles the paperwork so you can get the right policy without the hassle.

38:31For me, having life insurance isn't about expecting something to happen. It's about knowing my family is protected so I can actually enjoy these moments together instead of worrying about what comes next. And with PolicyGenius, you can find 20-year life insurance policies starting at just$276 a year for$1 million of coverage. Head to PolicyGenius.com to compare life insurance quotes from top companies and see how much you can save. That's PolicyGenius.com. thinking about refreshing the carpet in your home now's the time to do it for a limited time at the home depot get 10 off installed carpet projects on trusted brands like life proof life proof with pet proof technology home decorators collection and traffic master plus with installation starting at just 49 cents per square foot upgrading your space is more affordable than ever at the home depot offer valid september 24th 2026 through october 4th 2026 exclusions apply for licenses see homedepot.com slash license numbers All right, the next question is from Andrew.

39:33Andrew, I love your name. All right, so I found your podcast in 2025, so I'm still trying to catch up to all your unreleased episodes. I have 135 left till I'm caught up to the new releases when they drop. I signed up for your Master Money email list for your book selection. I'm an avid reader, so after seeing a book recommendation, I'm trying to either read it or print it or listen to it in my library app. I am immensely grateful for both your podcast and reading list. please keep both up. Well, thank you so much for sending that message. I truly, truly appreciate it. That is absolutely amazing.

40:05I finished my doctorate in systems engineering while working full time and at the time had an immediate family member pass away in 2024, for which I am working to pay off estate taxes and max out investments. I should have the estate taxes paid off by the end of 2026 and only have a mortgage left that is about 3.375 % interest. I am investing 30 % of my paycheck into a brokerage account, investing 17 % into a Roth 401k, holy cow, and received a 9 % match at work, and I saved 23 % of my paycheck into a high-yield savings account. In my personal brokerage account, I enjoy investing in ETFs and stocks I dig into.

40:42In my Roth, I am mostly large cap but diversified across medium, small, and international. I am 34 and I plan on retiring at 44 to 45. With that information, if you were in my shoes, where would you recommend I look for the next steps to becoming financially independent? Based on those numbers, do you see any place that I overlooked? Andrew, first of all, this is one of the most impressive setups I have ever seen in terms of people sending this in. You are absolutely crushing it so far. And the amount of money that you are investing right now, it's getting close to a 70 % savings rate. With a 70 % savings rate, you can retire really quickly.

41:18you are on track to being able to retire in those the early 40s there by far if you continue to do this and i think this is really really powerful because you're putting 30 into a taxable brokerage i'm reading this back now 17 percent of your raw 401k and the nine percent match on top which is the massive bonus there awesome stuff and 23 percent to a high yield savings account so right now the first thing i would see is a 23 percent to a high yield savings account uh if you feel as though that cash is making you comfortable and you feel that that's a good spot to put it, that's completely fine.

41:49But if you are trying to get to that six month emergency fund and beyond, and maybe you just want to have enough cash on hand because you're retiring early, just in case anything were to ever happen, that makes sense as well. But once you get to that six to 12 months range, then you want to think about your SWAN number. So your sleep well at night number, anything above that six to 12 months range needs to either, you know, benefit you in a way where it helps you sleep well at night, so you don't have to worry about it. And or it's probably too much cash to put in a high yield savings account for my specific thought.

42:18But if you are still working towards that number and that's why you're putting that amount in there, so that's the first place I would look is try to decide, okay, well, would I rather invest more of these dollars into my taxable brokerage account or something like that? So these dollars can continue to grow over time. That would be the optimal place to put it after you fully fund that emergency fund, unless you are looking at getting some extra years of cash in case there's down years so you can pull from those cash and make sure that you are you're defeating sequence of returns risk things like that so that's the first place i would look secondly i would stress test the the bridge to age 59 and a half so i would think through okay what is the single most important concept at retiring at 44 well a lot of high earners get surprised because most of your money is in your roth 401k or things like that so what is your plan to actually access some of this money if you do need it?

43:09There's a bunch of different things that you could do. And we've done an entire episode on this that you can check out where we dive deep into all the ways that you can access your money if you retire early. But there are things like you could do a Roth conversion ladder. There is the 72T. There is a set payments that you can set up. There's a lot of different things that you can do. So you want to map out the years as to what you're going to do from age 44 all the way up till age 59 and a half when you can actually access some of those funds. And maybe that's what the taxable brokerage is for.

43:37And if you are trying to use the taxable brokerage to bridge that gap, I would probably take a portion of that cash once it's done. And I would put that cash savings in the taxable brokerage that you can utilize that as well. Next. I like that you're going all in on a Roth. I think a Roth, even for high earners can be a great spot to put money. Um, and Roth is absolutely fantastic, but have someone run the numbers for your tax situation. See if you want to put it into a traditional. You could do something like that as well if you wanted to, but the Roth does allow you to pull contributions out and it does give you some great benefits there.

44:08And I think there are a couple other accounts you could look into. If you have a high-doubtable health plan, you can look at an HSA and see if those triple tax benefits can help you. Because if you save those receipts while you have that HSA, you can access those funds early. So if you're healthy and you feel as though you can utilize an HSA, that's going to help you in early retirement as well. And I think that is a really good place to look at this for that triple tax advantage. And then also look at the mega backdoor Roth, because it seems as though you're a high earner. If your company does allow for after-tax contributions, the mega backdoor Roth could be something that you look deeper into to get even more money into your Roth if you wanted to go that route.

44:41So I love that for many other things. One big thing to note, this is a huge one for a lot of people, is planning for health insurance. And so starting now by planning for health insurance can be really, really important because health insurance is pretty expensive. And as you get to the point in time where you're trying to cover health insurance from age 44 to age 59 and a half, that's about 16 years plus the five years they're getting in Medicare. So you could be looking at about 21 years before you get to Medicare age. And so figuring out, okay, how is health insurance going to work for me until I get to Medicare age is something a lot of people get caught off guard.

45:17Like right now, I pay$2 ,200 per month in health insurance in Florida. Every state's gonna be different. Some states you can get it for cheaper. I have a family plan, so I have five people on my plan, but that's how much I pay right now. And so you wanna make sure that you're also considering that as you start to progress through a lot of these different things. So just making sure you have your health insurance planned out as you do this. And then concentration risk. I love that you're looking at individual stocks and index funds and ETFs. And I think that's perfect because those are really well diversified and just making sure you have a diversified portfolio.

45:47It sounds like you do is wonderful and keeping the mortgage on hand. I mean that mortgage interest rate is really really low So I would not pay that off anytime soon unless you really want to Um, if you have enough cash on hand to be in the position to do it If you felt like it that's another great position to be in but in reality You haven't overlooked anything major, which is rare and I think that is a uh, I commend you for that Let's get to put this clap up for you I'm gonna clap it up for you because I think that is absolutely incredible what you are currently doing and the way that you are working through this is absolutely powerful.

46:18What I would do is pressure test your plan. I would pressure test, okay, what would happen in different scenarios if the market dropped? That's one thing I would do. I would pressure test just the health insurance to make sure that you have that coverage in play. I would make sure that you are capturing any additional ways to invest those dollars because you're saving so much. You could do the mega backdoor Roth of the HSA. That's incredible too. And also just make sure you're enjoying life a little bit. Make sure you are having a little fun and doing the things that you wanna do. It sounds like financial freedom is your number one goal, which I love that.

46:48And I think that's absolutely fantastic. And if you do all of those things, you're not just on track. You are miles ahead. You're in the top 1 % of people who are managing their finances. And I think that is absolutely incredible. So really good job. I would love to see how much progress you make going forward, too. So keep me updated. I love this kind of stuff. All right. The last question for today is from Jerry. So Jerry says, hey, good morning, Andrew. I recently found your podcast on Spotify, and I've been deep diving into my financial future. I'm 35 years old and been in the electrical trade for 13 years.

47:21Awesome trade. And recently got a new job working for an international paper as an E &I tech, so electrical instrumentation. We are union, and this comes with some new benefits that I'm not accustomed to. First, they do offer a 3 % company match, and I am 100 % going to get, but they also have a pension plan. All right, that's amazing. I'm making$45.46 per hour, topped out in my trade, and we have unlimited overtime potential. My son is a senior in high school this year and plans to take part in my company's FAME program. They pay him to go to school for two days a week, and he works at the mill for three days.

47:56It's a two-year program, and once he graduates, he'll be shy of 100K by the time he's 20. Awesome stuff. I made a lot of poor financial decisions in the past, and I'm just now starting to invest in my future. I'm wanting to guide my son in the right direction from start so he doesn't have to make the mistake I made and will be set up at a young age. I'd like some tips on how to guide him in the right way and also thinking about my newborn son's future as well. I came from nothing and my goal is to build generational wealth for my boys and financial freedom for my wife and myself. Thanks so much for taking the time to read this.

48:27I'd appreciate any advice. Well, first of all, this is why this podcast exists is for people who are trying to figure out their financial future and trying to figure out what to do next. So Jerry, awesome stuff. I am so proud of you for even, you know, getting this far and figuring all this stuff out. Now, here's the cool thing about this is absolutely get that match. And that pension is going to be a huge, huge deal. And I would say you've already done the hardest part. You've come from nothing. You figured it out. And now you want to change this and change your family's financial future. And this is one of the most powerful things that people can do for their families is you can change the trajectory of your family by doing a couple different things.

49:06One is I would lock in the foundation first. I would figure out, okay, what order do I need to think about this? Well, first, let's make sure we get the emergency fund in place. So one month of expenses is what we want to start with. The one, three, six method, one month of expenses is in place. Then we want to make sure we have all high interest debt paid off. So anything between that six to 7 % interest rate needs to be paid off. Then get to three months of expenses in the emergency fund in cash while getting the 401k match. Then once you're at three months expenses, we're going to start to invest.

49:37We're going to start to invest those dollars, you know, aggressively. We're half's going towards the emergency fund, half's going towards investments. Once you get the six months of expenses in your emergency fund, then you have the ability to be able to invest all of those extra dollars towards your investments, okay? That's how we start this off. Number two, understand that your pension, if it's guaranteed, this is going to be something that you will be able to utilize like a paycheck. A pension is a huge and increasingly rare benefit. This is one of those benefits that really doesn't come around much often.

50:07And I'm sure for most people, these are gonna go away fully at some point in time unless something changes. So don't fully count on your pension money until it's vested, one. But once it's guaranteed and it's vested, then you can utilize this as part of your financial plan. Meaning that if you need$100 ,000 per year by the time you retire, and your pension is gonna cover$60 ,000 of that, then you only need to cover the rest. the$40 ,000 per year in order to be able to retire, plus Social Security and all the other fun things that come into play. So if your pension is covering, let's say,$60 ,000 and you need to cover$40 ,000, that means you would need about a million bucks invested in order to be able to retire because you could draw it on 4 % per year, roughly.

50:45And so that's going to start off to kind of think through how to utilize your pension in a way that makes sense. When you start to invest, I would look at opening a Roth IRA for your family and then contributing to that 401k, Making sure you continue to get that match and then contributing to the 401k after is really important. For 2026, you could put$7 ,500 per year in the Roth and then start to contribute to that 401k. And even a taxable brokerage, if you have more money left over after that, if you get a bunch of overtime or whatever else, I think that's wonderful. And then be cautious about lifestyle creep because as your income increases, you want to make sure your lifestyle stays the same.

51:19That way, you could take those extra dollars and put it towards your financial freedom so you don't make the same financial mistakes that you say you may have made in the past. Now let's talk about teaching your son about finances because what he is doing already, I love that you guys are doing that program. I think that's absolutely incredible. And one of the things that he can do is he can open up, since he's making money now, he can open up a Roth IRA. And so this is going to be a really, really powerful opportunity because most people never get it. And a Roth IRA grows tax-free long-term. And when you're young, putting money in a Roth IRA means you have more time for this money to grow.

51:52And the growth of that money is going to be the majority by far. He's not going to ever have to pay a diamond taxes on the growth of that money. And so because of this, this could be a really, really powerful account for him over the course of the next 45 years. Let me give an example. Why? Because if you open a Roth IRA, I'm pulling up an investment calculator right now. So let's say you put in that$7 ,500 per year over the course of 45 years at a 10 % rate of return. He would have$5 ,391 ,786 in this account. and the amount of that that would never have to pay a diamond tax meaning the growth of that money is just over five million dollars so five million fifty four thousand dollars that is a massive benefit because he has so much time for this money to compound and because he has so much time for this to work for him and so because of this the Roth IRA is really powerful for young people who have time and time for their money to grow and then secondly I would teach him the behaviors before dollar amounts.

52:48So teach him and lead by example because kids watch your example, especially when they're his age. Lead by example. So at his age, habits matter more than numbers for anything. So teaching pay yourself first. Every single time you get paid, a portion of your paycheck is going to go towards your Roth IRA or whatever other investment accounts you want to go towards. So a minimum of 20 % is always the key. But if you can get him to save 50 % now and kind of get in the habit of that, boy, oh boy, he could retire in his 40s pretty quickly if he wants to do something like that. So avoiding debt is the second thing and kind of showing and teaching about debt and why it is important to avoid debt at all costs.

53:25If he wants to buy a truck or if he wants to buy something that is really, really of interest to him, making sure that he pays cash for stuff like that can be important to establish some of those boundaries. Because a classic mistake for folks in the trades is, you know, making good money and then all of a sudden they go out and buy a$60 ,000 truck. No, you want to avoid that at all costs and want to be something where, you know, you him buying side-by-sides or whatever else that he would want to go out and buy and be able to you know go and finance it because many people go out and finance that i think that's really really important for your newborn what i would say is there's a lot of things that you can do if your newborn was born over the course of the last couple of years the trump account gets that one free thousand dollars make sure you do that for sure and then a 529 plan helps save for college that's another thing you could do uh and then using like a taxable brokerage account or a trump account if you want to save for them for long-term future stuff is great.

54:16I'm not a big UTMA or UGMA person because of the restrictions, but I am a huge custodial Roth once you have earned income, but you got to have earned income before you open a custodial Roth IRA. That's the rules behind that. But being the model, the role model for all of your children, that's the big key. And then talking about money. I like to frequently have conversations about money and how it works. Again, you're going to notice that your kids are going to have different personalities when it comes to money. I have one kid who he saves every single penny. My other son spends every dollar he gets immediately when he gets it.

54:48And my daughter's too young to know yet, but we'll see how she is. And so I have to teach them very differently. And the lessons are very different for each and every single person based on their personality and kind of how they operate when it comes to money. So I would ensure that you are teaching them and leading by example in that way as well. So the bottom line is getting the full match, understanding your pension, getting that emergency fund built up and making sure you have all of this stuff in line is really, really important. And time will do the heavy lifting for your kids, which is great.

55:18And you can kind of get a bunch of different things set up and build something really serious here. You've got so much time for this money to compound still. You're still very young and I think there's a lot of cool things that you could do. So your past mistakes, don't beat yourself up about those. This is the time is now and you can do some really great stuff with this if you set it up right. So you can build that generational wealth for you and your family, which I am so excited for you to do. Listen, thank you guys so much for listening to this episode of the Personal Finance Podcast. If you have questions, again, make sure you reach out.

55:45And if you want direct help from me, inside Master Money Academy, I am answering messages every single day. We are doing weekly live coaching calls every single week, working through people's finances. And we are doing monthly masterclasses, going through a specific topic and teaching you about a bunch of different things. Plus, we have a six-month system now inside Master Money Academy, where if you follow the steps every single week, I tell you exactly what to do to transform your finances over the course of the next six months. You will transform your finances in the next six months by joining Master Money Academy.

56:17There's a couple of things that I want you to be able to do. One is you got to be 100 % committed. You have to be willing to at least invest about an hour or so per week in learning about your finances. Two, you have to be willing to do the work and put the time in and the energy in. This is not something that for people who are just going to be willy-nilly and not do it. You have to be willing to do it. And three, you have to be willing to actually want to build wealth. If you want to build wealth and you want to change your financial life forever, I would love to invite you to join Master Money Academy because I promise you it'll transform your life.

56:47And I'm personally every single day in there helping people. And I answer every single question every single day inside Master Money Academy. So I'm really, really excited for that. So if you are in debt, if you are someone who is investing, but you're just kind of investing in random accounts. You don't really know what you're doing. If you're someone out there who is trying to build wealth and generational wealth for you and your family, I'm helping families every single day inside of Master Money Academy. The link is down below in the show notes. So please check out that link down below if you have not done so already.

57:17And there's a seven-day free trial. Go check it out. We have all of our courses in there. Take some of our courses, come to a live one-on-one coaching call, ask some questions, and I will directly answer you and ask some questions in the community. And I will personally answer each and every single one of you. And if it's not for you, nothing wrong with that whatsoever. But would love to see you inside Master Money Academy and can't wait to meet you inside. So please join down below. And thank you so much for listening to this episode. We will see you on the next episode. Push your limits, train with precision, see the results.

57:49At Equinox, that's high performance loving. Everything you need to lock in and unlock your potential at Equinox. Start today at equinox.com.