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Episode 34: Life is Long - The Market
128 Plays6 years ago
A solid footing is the best place to be when you decide what your next step should be. That’s our approach to wealth advice. We want to put clients in a position where their financial basics are covered and they have cash on hand to take advantage of opportunities as they arise.
In our most recent episode of the Uncommon Life Project podcast, we take a closer look at how to create a financial safety net that ultimately gives you the ability to take some risks when others may not be able to.
A good financial plan will help you strategically invest in yourself, so your basic needs are covered and then you can make informed decisions about investing in ways that align with who you are. We think your unique abilities and what God has put you on the earth to do is your long position in the market. That’s what we mean when we say your life is long – the market.
what you will learn in this episode:- How to de-risk your risk
- Why low-cost index funds are not the only game in town
- How to think of banking as a process rather than a product
- The benefits of indexed annuities
- Ways to mitigate risk so you can pursue the life you want
- What real diversification looks like
- How to create multiple income streams from one common interest
Recommended
Transcript
Defining the Uncommon Life
00:00:02
Speaker
Everyone dreams about living an uncommon life, but how we define that dream is very different for each of us. And for most, it's a lifelong pursuit.
Podcast Introduction
00:00:11
Speaker
Welcome to the Uncommon Life Project podcast. We're going to introduce you to people who are living that life or enjoying the journey to get there. We're going to also give you some tools, tricks, and tips for starting or accelerating your own efforts to live an uncommon life, a life worth celebrating and savoring.
00:00:29
Speaker
Please welcome your hosts, Brian Dewhurst and Philip Ramsey.
Meet the Hosts
00:00:34
Speaker
Hello, everybody. This is Philip Ramsey, your Uncommon Life host with the one and only Brian Dewhurst.
00:00:42
Speaker
Delayed Brian Dewhurst. Delayed. Welcome to the show. Let's go with Joyce. Have we... We're going with Joyce. I don't think... Thank you, Joyce. Thank you so much, Joyce, for that beautiful intro. I'm entering this podcast. Yes. Which is different for me because normally you do it, but I'm going to give it a shot. We've got to practice, right? Yup.
Warren Buffett's Financial Insights
00:01:02
Speaker
So, this episode is called, Your Whole Life is Long the Market in air quotes. We'll actually quote them on the show, but for the point of the podcast, it's air quotes. So, the market is in air quotes. And so, what this is... This is actually a thing that I... Kind of an idea I've wanted to talk about for a long time, so I'm glad we're doing it in season 2 and not like season 10.
00:01:25
Speaker
But this is kind of framed out of two different things. So I grew up in Omaha, where Warren Buffett obviously is very popular, going to the Berkshire Hathaway shareholders meetings. I used to get passes all the time because my mom's firm in Omaha, you could just get them. It was easy.
00:01:43
Speaker
And so one of the things obviously that Buffett has been renowned for is his ability to get good deals and buy different companies and different businesses and stocks in the downturn. His quote is, Be greedy when everybody's fearful and fearful when everybody's greedy. You got to buy when there's blood on the streets, that type of stuff. And in order to do that, you need to have cash and you need to sell at the top.
00:02:14
Speaker
And then two, is just going through two major stock market collapses in the last 20 years with the tech wreck in 99 to 03. And then obviously the financial, the Great Recession, I guess, is what we're calling it from 07 to 09.
00:02:35
Speaker
And in that, seeing how everything basically collapsed, jobs were lost, the stock market collapsed, the bond market went down into a year. And I think for a lot of people that we meet with, they think they're diversified because they have a good job, they have a 401k, and they have health insurance.
00:03:00
Speaker
That's like not true diversification. What we would say is true diversification is like you own real estate that produces cashflow or rent, like a rental. You own a business. You have maybe investments in the market. You have multiple streams of income. Maybe your spouse has a good job with benefits and you've got very little debt to no debt and money's coming in multiple ways. That's more true diversification.
Entrepreneurial Risk Management
00:03:29
Speaker
And so in that, I think that's kind of the genesis for this show is like, how do you as an entrepreneur mitigate your risks and the risk that you take? Because there is risk in business. Absolutely. There's risk in the stock market and they're heavily correlated. And then how do you have cash on hand to be aggressive when things are falling apart?
Market Trends and Stability
00:03:54
Speaker
And I think the timing of the show is actually really good because we're kind of... The market's been a little unstable here the last few months. And we're kind of at this... The market's been up pretty much straight up since March of 09 and it's early 2019. So basically 10 years in a row, the market's gone up.
00:04:16
Speaker
We're shooting this actually right at the end of 2018, so we'll see where the market ends up. But it's basically been up almost 10 straight years or 9 straight years. So let's talk about this.
Investing vs. Business Struggles
00:04:28
Speaker
Here's what I wish could have happened. We had a client in our office.
00:04:34
Speaker
And we were talking about everything. And Brian basically... This client brings up Tony Robbins' book, Money, Master of the Game, and this client starts talking about it. And Brian basically is like,
00:04:50
Speaker
Let me just tell you something and just goes into this. He launches into this thing and it was like, could I just have recorded that because it was brilliant. Let's kind of go through that because what he was saying is why not just buy low-cost index funds and just be long the market. And this is when Brian kind of started formulating his thought and I wish we would have recorded. But this is what we're going to try to do in this time is kind of rehash some of those thoughts in this podcast.
00:05:16
Speaker
Sure. So let's take it twofold. So he basically had taken the profits from his main business and invested in other businesses and those businesses failed or are struggling.
Emotional Finance and Discipline
00:05:32
Speaker
And he hasn't had the return. And if he was like, if I would have just plowed those profits into like low cost index funds, I would have millions of dollars. And totally, I was like, yeah, you would.
00:05:44
Speaker
potentially. And I think when you look at behavioral finance, which is like, you know, the emotion of how we act with our money, you know, would you have been able to sit on large sums of money just there being kind of a business junkie and an entrepreneur and not leverage that money? I don't know that you would have done that. You know, you didn't do that. And so with that, though, it's kind of the genesis of this thing is like your whole life is long the market.
00:06:14
Speaker
And as an entrepreneur, you have to be able to sit on cash.
00:06:20
Speaker
It's very hard to do and that's why I think our uncommon banking strategy with leveraging cash value life insurance is such a huge part of what we do, especially for entrepreneurs because to have the discipline and ability to buy things when nobody else can stomach it like Warren Buffett has.
Strategic Diversification
00:06:39
Speaker
Well, the thing that nobody talks about with Warren Buffett is that he's like this faint investor and all this.
00:06:44
Speaker
They literally have, Berkshire Hathaway literally has interest in over 750 companies. He's getting cash flow from 750 different companies. That's diversification, right? And not only that, his main companies that produce the lion's share of the cash are insurance companies and reinsurance companies, which are very economically stable.
00:07:09
Speaker
And so he has a war chest of cash being generated every year. Now the new person I think that's in vogue that we talk about that has that similar potential is Jeff Bezos, right? With just Amazon. We're all buying stuff. He's trying to get us to buy our toilet paper from Amazon now and ship it to our house every two weeks. We don't have to leave the house.
00:07:31
Speaker
He's getting so much recurring revenue, he's just plowing it into other things. That gives them the ability to leverage assets and to make these strategic purchases when nobody else
00:07:45
Speaker
can do it because they have strong core businesses. And the last thing I'd say is just that like Warren Buffett can take gains, right? Like he sold things. That's not as well publicized either is that he does sell things like at the tops of markets, he will sell companies, he will sell stocks, and he will add to his cash position ahead of downturns. And I think a lot of times that's missed as well. And so I think that's a big
De-risking Ventures and Cash Flow
00:08:14
Speaker
part.
00:08:14
Speaker
So, it was funny because this client that was sitting in her office was really advocating for this book of Tony Robbins, which is Money Master the Game. And in that, it's this whole strategy of just buy low-cost ETFs and let that money ride it out. And he was basically saying what Brian was saying just to bring this full circle of, I wish I would have done that. And what I would say is Tony Robbins didn't even do that.
00:08:36
Speaker
Does that make sense? He invested in other businesses which ended up failing and realized like, I should have just bought low-cost ETFs. But instead of doing that, he just invested in himself and now he makes money every which way until Sunday and then writes a book about putting your money in low-cost ETFs. But he has multiple
00:08:57
Speaker
I would say multiple residual incomes that Tony Robbins has. And in that, yeah, in that, then he says, well, then I'm going to start investing in some, you know, low cost ETFs. I'm going to write a book about it and then also get royalties from the book. And then our client was sitting here is like, why don't I just do that? Well, the reason why you don't do that is because you're not passionate about that. What Brian and I are advocating is running businesses are it is risky. Very risky. But there's ways to de-risk that risk.
00:09:26
Speaker
And if there's a way to D, I would say, I don't know if D risk is the word, but there's ways to work around the risk as well as organize your cash flow in a personal level.
00:09:39
Speaker
Maybe that you won't need all that money month to month, but then it makes running a business or stepping your toe into a business not as scary or risky. So that's what we're advocating in this podcast is we've got to think about multiple streams of income.
00:09:57
Speaker
Then that's basically it. When you do that and you start thinking about personally, about your monthly, we call it a nut or expenses and try to keep that as low as possible and you try to do that and focus on that, that's when you can then take a step out and do even more riskier stuff.
Exploring Income Streams
00:10:15
Speaker
But the people, I'd say, and even advisors always about diversify and
00:10:20
Speaker
Are you diversified in your mutual funds and all this stuff? And not really helping you on the month-to-month or helping you on the residual basis of getting cash flow reorganized around your cash flow and your person, but just telling you no, just start putting in other facets of life.
00:10:37
Speaker
in line with what your goals and dreams are. You've heard us talk about this all the time. So, what we're advocating is to first, personally, figure out what you have to do to then take your risk a little bit further later or I would say more risky later to run a business. There's twofold in this and that's why whenever we sit down with our clients, we really try to figure out where are they at in this continuum. Do they already have a business? Do they already have a rental property? Do they want to try to get a rental property?
00:11:07
Speaker
You can talk whenever you want. But I can get on a soapbox of this because it's not like we're trying to tell people to start a business right away. That's the last thing we'll tell you to do. And some people aren't cut out for it. Absolutely. But what we would say is everyone should have multiple streams of income which de-risks them to then put their money in the market. That's what we would say. Yeah. And I think we talked about this prior to turning on the recorder.
00:11:34
Speaker
We had a client we met and they had 600,000 in cash and they owned a farm for 40 years.
Low Interest Rates and Risk
00:11:45
Speaker
His investment strategy was basically try to eke out a profit farming, put it in the bank and he got 5-6% in CDs over a 40-50 year period.
00:11:58
Speaker
And that's how the 600,000 came to be. And then they paid off all their debt and their farmland was free and clear and very successful. And so in that, I think what's changed in this paradigm as well with this super low interest rate environment is we are being teased into taking more risk. Saving is a lost art because you don't get paid for it. Before in the bank, I remember in 1999 when I first opened my first brokerage account at my mom's firm,
00:12:28
Speaker
I think I've said this before. My interest rate on my money market was 5.5%. Could you imagine if you were getting that on your cash at the bank right now? And I know Wells Fargo is paying me nothing right now. Get it together, Wells. Give me 1%.
00:12:44
Speaker
But they got the best mobile app.
Benefits of Indexed Annuities
00:12:47
Speaker
But that, to me, is why our uncommon banking strategy is so powerful. It is because it's guaranteed. It's liquid. It gives you the death benefit you want to protect your business and your family. It is tax-deferred. And we can customize the size of it to fit your situation. It's easy to tailor.
00:13:08
Speaker
And so the other side of that is this gentleman we're kinda talking to and frustrated he kinda brought up index annuities versus index funds. And I think John Bogle is the CEO or founder of Vanguard and they're now kind of like
00:13:24
Speaker
the lead dog in this whole low cost ETF. And it's why I feel like Philip and I are looking to always be reducing the fees on our managed money side because we know that's where everything's headed. Totally. And we're trying to get in front of that and I don't want to die on that hill. And so anyways, but my point is, we are advocates of indexed annuities and basically what it is is it gives you kind of indexed upside to general indexes. I think
00:13:53
Speaker
You're not invested in the stock market. They buy option contracts that give you leverage to the upside of the market and then they lock in at different points. Some are 1-year, some are 2-year, some are 3-year. We just got told there's now a 5-year lock where you don't get a return for 5 years. I was like, not too interested in that.
00:14:12
Speaker
So, they're all not equal and there's all these different indexes and so it's very complex. But at the end of the day, they work like CDs in the sense that your principal is guaranteed and that instead of being tied to interest rates, it's tied to index returns on this stock market type stuff.
00:14:31
Speaker
And we've had a lot of success with them and we like them because it kind of takes the emotion out of the stock market, but it still gives you a good chunk of the upside of the market, which is what you want, especially as you age. You want to be able to get double digit returns. You just don't want double digit losses.
00:14:48
Speaker
and indexed annuities if positioned right and, you know, again, they're not all created equal. So, you know, we do a lot of due diligence on those and the ones that we use and advocate for, but, you know, they're designed to do that. And what I'm saying is, as a business owner, what I said to this gentleman was, if you with our uncommon banking strategy and with indexed annuities, if you could have a principal protection underneath a large portion of your money,
00:15:18
Speaker
And then you have the value in the upside of your business. I think you're a lot better off than just blindly investing in the stock market. And sure, at times, it will be great. The stock market will be at an all-time high. But when it goes down, your business is going to be correlated potentially to it going down, depending on the growth and trajectory of your company. And so that's really where I think good financial planning and having
00:15:45
Speaker
Having other people looking at the different facets of your business, the different facets of your overall financial plan and how you pull wealth outside of the business and how you reinvest that is critical.
Focus on Core Strengths
00:15:58
Speaker
The other point that I would make, and this has been true of myself, is
00:16:02
Speaker
Before, I would say we had a business, but we didn't have a brand. I think now with uncommon wealth, I'm more excited than I've ever been about our brand. And it allows us to pivot in different ways and leverage our expertise, leverage our knowledge, leverage our network in a positive way. To bring true value of different things to the market.
00:16:28
Speaker
And so what we see a lot too is people have a successful business and they too quickly diversify outside of that business and they diffuse their capital, they diffuse their bandwidth and their mind and focus and it detracts from your ability to build wealth. You think it's actually increasing your ability to build wealth, but it's not.
00:16:52
Speaker
and the people that stay focused on one thing in one brand and systematize those things and stay within that sweet spot.
00:17:03
Speaker
That's where the real traction and gold is in our opinion and what we've seen with successful people. And so that's what we're trying to say to people as well is like, if you have a successful business, would it be easier to generate another stream of income that's synergistic to what you're doing versus going and starting something completely different that you've never done before and then run those two things in tandem?
Bezos and Brand Leverage
00:17:30
Speaker
Well, obviously, keeping within the same brand and doing something that's synergistic to your main focus is going to be way more profitable and way more sustainable and less risk than going out and starting a totally different business that you've never done before.
00:17:47
Speaker
It's just not successful and you see that with Amazon. It was interesting. I was reading a book and he was talking about Jeff Bezos and kind of some of the different things that he did growing up and kind of more so focused on how his mom handles him as a child because he was obviously different and acted different than most people and she embraced that as opposed to rejected that. And so there's a lot of credit being given to his mom.
00:18:15
Speaker
And, you know, we all have as entrepreneurs, I'm sure this will maybe resonate with multiple people, but I think I own like 15 different URLs right on like GoDaddy. And we meet with a lot of people and there's a lot of people that have their 15, right? But Jeff Bezos owns www.relentless.com. And so I really encourage you guys to like go out there and just look at www.relentless.com.
00:18:41
Speaker
And my point will be made when you look at that website. What Jeff has been able to do with Amazon and the different things that he's able to bolt onto that brand, it's just so much more synergistic than if he was going to go launch now Whole Foods. They bought Whole Foods. He's leveraging that across the Amazon platform.
00:19:01
Speaker
from shipping and all that versus if he was just gonna go out and like, I'm gonna start a grocery store from scratch and it's a totally different business and I'm not gonna bring them together. Yeah. He's stayed focused for so long that now he can diversify and it's gonna be successful because it has one focus that is cash flowing for him.
Security Through Annuities
00:19:20
Speaker
And I want to step back because I think sometimes when anybody
00:19:24
Speaker
Um, including myself, here's any advisor talk about annuities. They're like, you know, anyway, Brian did say that not all annuities are created equal. And we like those indexed annuities because it's a guaranteed of principle. There's a lot of variable universal or variable annuities that are not principle guaranteed and they have high fees.
00:19:50
Speaker
What we like to do is buy these index annuities straight for capital appreciation and the guarantees. We don't really buy them for income. It's not like we won't, but we just don't feel like there's a need for most of the time. We like it for the lower fees and the principal guaranteed.
00:20:10
Speaker
And then we'd like life insurance because there are guarantees in those. We like to try to guarantee as much as we can. So when we do step out and have our clients start businesses, we know that that side of the ledger is shored up and that thing isn't going to go down.
Managing Investment Risk
00:20:28
Speaker
Because the last thing you need is to try to take a step out in business and the risk that that takes and then the market takes a hit and all your money goes down. Like that seems like a double edge, double whammy almost.
00:20:40
Speaker
It is. And we understand that. So what we like to do is try to shore up one side of the ledger with guarantees and so we know exactly what's going to happen. And as advisors, that's like the best way to plan is with guarantees.
00:20:55
Speaker
People can argue that, but I would say the way that we practice and the things that we really get passionate about are not guaranteed. And so what we've tried to do is try to guarantee one side of the ledger, like I said before, and then we try to let you step out and really try to find your passion on the other side by de-risking as much of the one side as we can.
00:21:16
Speaker
Yeah, and I think to the last comment I'd make, you know, index annuities aren't for everybody and nothing is, right? We're all different. But the nice thing about index annuities are they lock in your gains. It takes the emotion out of it. It's kind of like deal or no deal, you know?
00:21:31
Speaker
You watch people's greed build and especially we're in that right now with the market near all-time highs and now it's getting a little shaky. It's just like, well, I want to lock that in. These things offer that ability to lock in gains unemotionally. That's nice. When it happens, people are like, oh my gosh, this is amazing. I wish I could have been in these longer.
00:21:56
Speaker
When you look at over the last 20 years, most people losing half their money in the stock market twice, I think these things make a lot of sense. And when you look at the systemic risk in our economy from the 25 trillion that's been printed over the last 10 years by all these different governments and the inflation that we're going to see and the erosion of the principal value of our dollar,
00:22:22
Speaker
And the fluctuations we're going to see in the stock market because of that and the easy money as these interest rates go up, they're kind of a nice complement to an overall plan.
Securing Financial Independence
00:22:34
Speaker
And so, yeah, I guess I'll leave it at that.
00:22:37
Speaker
No, it's good. So your whole life is long the market. It really is. And when you're taking and advising people to really chase after your passions, you really got to be careful with the way that you advise their current money. And we would call that the barbell approach where we try to shore up your day-to-day cash flow as much as we can because the next thing that we're going to do, there is some risk involved and we try to litigate risk as much as possible.
00:23:03
Speaker
When we start talking like that to our clients, man, the sense of ease and excitement and safety they feel of two advisors that really care about them, it seems to go up drastically. Because we do have an uncommon story and we feel like all of our clients are uncommon and they're going after this uncommon life, hence the reason for the podcast. And we love being on that journey with them.
00:23:25
Speaker
And I think a big part of what we do too is just giving people
Offering Diverse Financial Options
00:23:30
Speaker
options. And I think you go to the bank, you don't have many options right now because they're just not paying you for the time that you need to tie up your money like they used to. I mean, they used to, you know, in the 50s, 60s, 70s, 80s, I mean, you could get 7, 8, 9% on a CD.
00:23:45
Speaker
Well, shoot, you're going to leave your money there. But now at 1% or 2%, you're losing money. And you tie it up for three to five years, you're not going to do that. And then you go into the stock market and it's like, oh, I'm down 15%. That doesn't feel good. And so that's really where we feel like we can bring a lot of value is helping people understand banking more of a process instead of a product with our uncommon banking approach. And then obviously understand the stock market.
00:24:11
Speaker
can help people invest in that. But we also understand insurance. And so, knitting those three together with business risk as you age and as you pay tax and as you take risk is really powerful. And just letting you know the options available to you so that you can make an informed choice. I think one of the things, Phil, that you also say to people that I think is really
00:24:32
Speaker
Really, I can't think of the word, but it's just important for people to hear. People are actually pretty intelligent. Totally. And if you just present them the options and the pros and the cons, they're nine times out of ten going to make a really good decision based on themselves. And they're not going to second guess it. They're not going to think twice.
00:24:53
Speaker
I think it's our job just to paint a picture of what are these different options and how could some of these things fit together differently so that you have less risk and you can pursue the life that you want. I've always said that I'm just the world's worst salesman. All I do is give people options and so do you, Brian. We're just not very good salesmen. But we do like to give people options and we do like to ask them, hey, do you want us to help you get there? What do you want our next steps to be? But you're exactly right. People love options.
00:25:23
Speaker
And then they love to make decisions and they usually make great decisions. And I think the last thing and I don't know how we're doing on time but the last thing I would say too is I think a lot of times what we're doing is just giving people new ideas and I'm excited about another duo cast we're going to do. We're still trying to figure out the name of it.
00:25:46
Speaker
You know, giving people ideas is one of our favorite things just because we see a lot and we're exposed to a lot. And not ideas in terms of just investments, but maybe different ideas on how to monetize what they already have in a different way. You know, I think our school system is doing a poor job of helping people monetize their passion. And I think at the end of the day, a big portion of what we're doing and a big reason
00:26:16
Speaker
We interview the people that we are on the podcast is because they figured out how to tap into what makes them unique or uncommon. They've also figured out how to monetize it and scale it in a way that's attractive and brings value and is just different and unique. I think at a core, that's what we want to help people with is not only can you do what you're passionate about, but you can make money from it and probably enough money
00:26:45
Speaker
commiserate with what you're doing now. And it's interesting to me because we have such amazing clients and people that are like super hardworking, super successful, diligent, and a lot of them are doing it for other companies. And then when you flip the script, because a lot of these people have ideas that they want to do or they've kind of thought about owning their own business. But for some reason, it's like a whole different thing. And the question I think we always ask them is like,
00:27:14
Speaker
Have you ever done something that you didn't feel successful in? And a lot of times in the sense of like providing an income, right? Like most of the time, the answer is no. Like, yeah, I've always just worked hard and you figure it out and God provides and the ends meet. And it's like, why would you think that would be any different if you owned your own business and you were doing what you're truly passionate about? Just for yourself. It'd be tenfold. You'd be that much more passionate.
00:27:41
Speaker
Yeah, it's just so interesting. You're working so hard for this company and you're not even totally into it. You kind of want to do something else and you're making whatever you're making. 50, 60, 70, 80, 100,000 plus.
00:27:58
Speaker
Why would you not think you couldn't make that doing your own thing and doing what you're passionate about? And then again, that's as part of a financial plan is pairing all these other decisions on how to support taking a risk like that if that's what you and your wife or you decide to do.
00:28:14
Speaker
Yes. I had somebody come up to me like, do you have a lot of business owners as clients? No, businesses as clients. And I was like, no, we have a lot of individuals that own businesses. Because individuals run businesses. Businesses just don't run themselves. And what these business owners are finding is that we're really good at running a business
00:28:36
Speaker
But I don't know how in the world that fits into my personal plan. And what I really want to have as advisors is to help me with my personal plan as well as my business. And how do they intercede or what word do you always use? It starts with a C. I don't know. You always say it. It's amazing.
00:28:55
Speaker
When two rivers come together, convergence. Oh, yes. Thank you, everyone. I worked through that. Yeah, I did. Here's what I would say, too. You said something about we love to give people ideas of things that they already have that they never really even thought about in the first place. And I'll give you my personal example.
00:29:12
Speaker
I went to Airbnb. We've been advising some of our clients to get into rentals and try the Airbnb route. But when I got on Airbnb, I was looking through houses and there was one house on the market and I was like, I wonder what the availability is of this house. And it was available one week out of the year. That's what it was. And I guarantee... That's a strong word.
00:29:35
Speaker
almost can guarantee you that that family was going on vacation that one week and opened up their personal house because they were already paying the mortgage. What if no one rents it out?
00:29:48
Speaker
Who cares? They are going to pay the mortgage. Yes. So what's the risk in that? So in my personal story, we're going to try to Airbnb our own personal house and see what that does. And if it works, it works. If it doesn't, it doesn't. We don't really have a lot of skin in the game.
00:30:06
Speaker
Again, there's some risk in there, there's some investment, but something that we're okay with that risk. And so, we love to give people solutions and even outside of perspective solutions that really seem to energize our clients and that's a fun thing. So, we are about five minutes over. I'm so sorry. That's my fault.
00:30:26
Speaker
But I love this conversation and I love this because we all are really long the market. And so why don't we take that risk for ourselves? That's what we want, right? So anyway, thanks for listening. Brian, any closing thoughts? No, just if this resonated with you or yeah, whatever. We're here to talk. You can, you know, do our 15 minute free call with Philip and I at uncommonwealth.com. Schedule us.
00:30:51
Speaker
And we're here. We love talking about this stuff and we know that this resonates because we get these all the time now. People are like, we're just running into a lot of people that want to do this stuff outside of the stock market. I have enough money in the stock market. We're not belittling that. It's definitely a piece of the overall pie.
00:31:13
Speaker
But if you want tangible action will help watching a rental property or business or you just need another idea we ran into a guy the other day that's getting laid off and he's just like i just love business. I've always thought about owning my own business i just don't have an idea.
00:31:29
Speaker
And that's where I'm excited to push into some content on franchises because I think that's, you know, franchises are a great thing for people like him that he'd be a really good business owner. But he might not have that idea of like, I want to start this business. And so anyways, long story short, we're here and we want to talk through your personal situation and see if we can be of value. So thank you so much for listening. Absolutely. You've been listening to the Uncommon Life Project. Thanks.
00:32:00
Speaker
That's all for this episode of The Uncommon Life Project, brought to you by Uncommon Wealth Partners. Be sure to visit uncommonwealth.com to learn more about our services. Don't miss an episode as we introduce you to inspiring people who are actively pursuing an uncommon life.