Rich Habits Podcast - 36: Investing the Rich Habits Way

Episode Date: October 30, 2023

In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz share their playbook for investing toward retirement. Specifically, they walk you through how to calculate a proper monthly budget, where to find extra funds, and exactly how to invest the money. You've heard of a ton of different investing "playbooks." Let this one serve as the definitive truth. ---Be sure to check out Public's new ⁠⁠⁠High Yield Cash Account paying 5.1% APY.⁠⁠⁠ This is higher than anything else on the market and is FDIC insured up to $5M. ---Earn 5.1% APY using a Public HYCA, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠click here!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Opt-in and share your email, ⁠⁠⁠⁠⁠⁠click here!⁠⁠⁠⁠⁠⁠Learn more about our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠4-module video course!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Download our FREE Budget Template, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠click here!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠To learn more about Robert: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://stan.store/RobertJCroak⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠To learn more about Austin: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://stan.store/austinhankwitz⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Contact: [e-mail] ---Hankwitz Group LLC has an existing business relationship with NEOS Investment Management LLC. The opinions expressed are those of the author, and the author owns several NEOS ETFs.

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Robert is a seasoned entrepreneur in his 50s with more than 200 million in company exits under his belt and I'm an entrepreneur in my late 20s with a background in finance and economics. Since quitting my full-time job in corporate finance a few years ago, I've built a seven-figure media business and actively advise some of the most well-known fintech companies around the world. As the show name might suggest, every episode we talk about rich habits as they relate to business, finance, and mindset. However, we try and bring you two unique perspectives. One from an industry veteran, which is Robert and the other myself, someone who's still in the process of building wealth and figuring it all out. Robert, what are we going to be talking about in today's episode?

In today's episode of the Rich Habits podcast, we're going to be sharing our three simple steps to investing the right way. Let me say that again, the right way. not the way your Uncle Bob told you, not the way Dave Ramsey might suggest, but the rich habits way. By the end of this episode, you'll learn how to create a budget, find extra money inside of it, and stick to it each month. You'll learn how to calculate your total expense to income ratio, a more detailed way to understand your debt to income ratio, and more importantly learn to calculate exactly how much you can invest every single month. And to give you all some added color and even some inspiration here, $250 per month invested toward the S&P 500, right,

the 500 largest and most profitable companies in the United States from age 35 to 65, right? So about 30 years throughout your life is $500,000. That's after you take into account inflation. Now, this stuff is attainable, and we're going to teach you how to do it. We're going to walk you through every single step in today's episode. So, Robert, take us off with step number one. Step number one, create a budget, and we're also going to help you find ways to squeeze out more money to invest with. Make sure you do a complete and total budget when you're correctly estimating and including the variables that come with discretionary spending.

Think Starbucks, think Target, etc. Any of those discretionary spending numbers. Also, keep an eye on those pesky subscriptions. I just had to cancel one of my Peacock premium subscriptions the other week because I realized that I had two of them. This stuff happens, so you need to identify them and take care of them right away. And also always ask yourself, do you really need nine different streaming services? Yeah, create that budget, right? There's actually a budget template in the show notes below. We like to encourage our listeners to go check out, download, and play around with. At the end of the day, building a budget simple, the hard part is being true to yourself and being honest with yourself saying, wait a second, am I really spending this much money? Is this a habit?

or is that a one-time thing? Create that budget, understand all the money coming in and all the money going out. Now, my little pro tip here for the budget, and this is something I was actually able to recently accomplish, like literally two weeks ago, shop around for new insurances. I was with farmers for the longest time, both my house and my auto insurance was with farmers. Combined, I was paying around $400 a month, $375 to $400 a month. And not only did they try and hike prices on me again this year, but after doing some research,

realize that I was paying way more than I should. So I switched to Allstate. Shout out to my boy Dallas, my Allstate agent Dallas, who mailed me, funny enough, a estimate for my house premium that got me thinking, wait, can I switch? So Dallas got me switched now to Allstate. I'm now saving over $200 per month for the exact same coverage, right? This is $200 a month that just incredibly magically appeared in my budget because I did one small thing and I switched. This for you might not be insurance. Maybe it is insurance, right? Maybe it's auto insurance. or house insurance, but for my dad, for example, he switched from Verizon to visible wireless. Now, he's saving about $120 a month on his cell phone bill, right? So there's a bunch of little

ways that you guys can think about finding $20, $50, $200 per month extra in your budget. And remember, this money is not just to be found and spent on your new Abercrombie and Fitch jeans. This money is to be found and invested into the S&P 500, which again, back to our example, half a million over 30 years, which we're going to get into here in a little bit. But create that budget. Find those little bits and pieces that can help you invest more and more every month and don't be afraid to get creative. Yes, I love this takeaway, and it really makes me think about something that I preach to the mountaintops all the time to business owners. When times get tough and you own a business, you can't always increase your sales or increase your income. It's not that simple, but you can look from within and find cost savings that way.

I remember one time this was back during the SillyBans era. I had leaned on a box one day talking to someone, and the box where the silly bands was in was very squishy. So I brought the UPS agents in my representatives, and I said, I have a question. And I showed them, I pushed down on the silly bands, and I pushed over on the silly bands with a tape measure. And by simply lowering the height of the box by two inches

and making the box one inch narrower, I was able to save $42,000 a week in shipping that no one had picked up on because we took a standard size box that it looked like it fit great. But it was simply switching that box size that saved me all that money. So never, never sleep on looking from within and finding those ways to save those 20, 50 or $100 or even more by looking at your expenses and finding ways to save money on them.

Robert, if you have any idea on how I could save $2 million on shipping expenses myself, I would very much appreciate that. There you go. I love it. So what's step number two now? Step number two, calculate your total expense to income ratio. Many of you have probably never heard of this term. And basically, it's a more advanced calculation of what you truly have left over at the end of the month

compared to simply calculating your debt to income ratio. I've used this version for years because it gives people a more realistic understanding of their net amount each month, allowing them to know more where they stand and be able to automate. their investments. The textbook definition of debt to income ratio is how much of your total income each month is being paid out the lenders to service your debt. For example, if you make $5,000 per month and you pay out $2,500 per month to your mortgage lender, your car lender, your textbook debt to income ratio would be 50%. However, using the total expense to income ratio, this just takes it one step further, giving you a deeper understanding of what's

left over every single month. Here's what to do. Now that you've created a detailed and accurate budget, you need to add together the total amount of all expenses, anything that's causing money to leave your bank account every single month. Now divide that by your take home pay. If your total expense to income ratio is 85% or less, you are golden and on your way. Yes. So the total expense ratio to Robert's point is sort of this reiteration of the debt to income ratio, if you've bought a house or you've, you know, bought a car or just had money lent to you in general, you've likely heard the term debt to income ratio. I think a lot of lenders like to see it below that 35, 36% range, leaving some room for more discretionary spending, right? We want to include not only

that debt to income ratio, but also the discretionary spending. We want to know exactly as a percent of how much money enters your bank account per month is leaving your bank account each month for things like not just your mortgage and your insurances and all the other debts that you might have, but also the restaurants, the eating out, those Abercrombie and Fitch jeans, right? We want to know everything that's being spent. And if your total expense to income ratio is close to like maybe 95, 100%, even 90%, right? That 90, 95, 100, you're not in a bad spot. You just now need to figure out how you can begin to cut back on spending

to allow yourself to invest that 15% each month that Robert and I think is that perfect golden number. Now that, again, might be the insurance thing. It might be the switching the cell phone bill. That might be maybe even increasing your income a little bit there, right? There's different ways we can think about this. But if you're in the 90, 95, 100% range, you're doing pretty good, right? That's where a lot of people find themselves. However, if your total expense to income ratio is above 100% each month, you are perpetually going into debt on a monthly basis and you have a crisis on your hands. You need to figure out what's going on and find a solution immediately. If you are spending every single month more than what you are making, you are going further and further into high

interest credit card debt, assuming that is how you're actually getting access to this extra money to spend. And at an interest rate of 30% is unacceptable. That is how you perpetually stay broke and perpetually never make it to millionaire status, right? That is just not what we want to be doing. So with that being said, right, come back to the build your budget, be honest with yourself, look in the mirror, really say, am I spending the right amount of money? Do I need to eat out? Do I need to buy this? Do I need to buy that? Understand your budget. Figure out how much of the budget is being spent on total expenses each month with the total expense to income ratio. And if it's 85% or less, you're good. Go take a victory lap. Pat yourself on the back. If it's 90, 95, even 100%, that's not a bad spot

to be in. We want to get closer to that 85. So maybe that might be some side hustles to implement. Maybe it's switching auto insurance or cell phone carriers. But if you're over that 100%, you're, You need to figure out why and you need to fix it immediately. I love it. Let's go into number three. Calculate how much to invest each month. You figured out the budget. You now know how much you're consistently spending on a monthly basis with your total expense

to income ratio. Time to get to the good part. Automating your investments. This is so, so critical because so many people don't automate their investments. You've got the 15% figured out. You know how much you have to invest with each month. But if you don't automate it, guess what? You're going to let lifestyle creep jump in.

You're going to spend some of it one month. You might skip a couple months. And guess what? That is a recipe for disaster. We want you to automate this. So if you've got that 500 or that 400 or that $900, automate it and know where it's going before it ever hits your account. So assuming you're not crippled by high interest consumer debt,

and you've paid all that off already, then you know where you stand to get started in investing, what to buy and how to get this train moving so you can make your way to financial freedom. So let's talk about investing, right? How much, where to do it, what to buy, and when to sell. For example, because we love to give them examples, they're easy to understand and they might actually be you. So for example, let's say someone listening right now has a household income of $6,000 per month, right? $6,000 per month is entering their households, bank accounts every single month and their total expense to income ratio is that perfect 85%. That means that every single

month, this household has $900 left over to invest $10,800 per year. Robert and I have talked about sort of this order of operations for investing, but just to catch everyone up, here's how we like to plan out the priorities. Priority number one is to get the match from your employer's 401k, right? This is the first and most important investment to make. Because it's free money. Then, once you've got that free money, let's max out the Roth individual retirement account because it's tax-advantaged money. And then once you've done that and you still have money left over, let's now go back to investing and to the 401k only if you have autonomy over those investments, assuming you're able to pick the specific ETFs and mutual funds and you're not just being

funneled into some target date fund, right? Assuming you do not have autonomy, that's okay. We're going to go to public.com and open an online brokerage account through them. it's time to do some math. Let's say your match at work is that normal 3% right everyone gets a 3% match on their 401k. So if you're taking home $6,000 per month for your household, that means you're doing about a $90,000 per year salary pre-tax. So that's where that 3% comes in with that 90K, right? So the 3% is of 90,000, not that 6,000 after tax. So you're now getting $2,700 per year in free money from your 401k match after you yourself contribute $2,000. $1,700 per year. That leaves us now with $8,100 on an annualized basis to invest with.

$900 a month, $10,800 a year. We now have $8,100 left. We all know the Roth IRA. We can max that out at $6,500, which leaves us now $1,600 to invest. Assuming your 401k doesn't offer autonomy on picking our specific investments, right? We're going to go down to the link in the show notes and download public.com and we're going to purchase VGT, V-O-O-O, and M-O-A-T. These three index funds are incredible. You can buy 33%, 33%, 33% waiting and all of them if you'd like. It's however you really want to chop it up, but that's the plan. I love it. If you haven't yet opened up a Roth IRA, you can do that on Betterment, wealth front. You hear me talk about Charles Schwab all the time, that's Schwab.com. They're all straightforward platforms. And everyone,

should be buying the index funds we mentioned. Like Austin alluded to, V-O-O-V-G-T, V-T-I, Mote, and QQQQ are at the top of our list. If you want to get a little more aggressive, I love AIQ. It's really strong in global markets in the artificial intelligence market, so I love that one. A good mix of these in anyone's retirement account is going to do wonders and you just let compound interest do its job. I know we might be a little overwhelming listening to all the math and all these names and they might what are these acronyms what are these i don't know what this means you got this we promise we listen to the episode take some notes it's super simple right we're creating the budget we're figuring out how much money is leaving our bank accounts every month so we know how much we have left to invest we want to have 15% every month to invest

in this example that's nine hundred dollars we're going to get that match from the 401k we're going to max out that roth IRA and then we're going to go to public dot com and we're going to buy some incredible index funds that Robert and I both love. It's that simple. Now you do that. Now we're talking about $900 per month. If this is you and you have a household income of $6,000 and you are able to invest $900 per month and you do that from let's call it $35 to 65, you're going to have $2 million in your retirement account after inflation. That's after inflation. That's after all the craziness, right? Two million dollars in retirement. That'd be nice. It's so simple, guys. It's so simple. We can do this. This is the three simple step playbook on how to invest the right way, the rich habits way.

I love it. I have goosebumps right now because the main understanding of an episode like this in all of our episodes of the rich habits podcast is really understanding that if you take notes, you take action and you be consistent, you will inevitably become wealthy. I promise you. Wealth is inevitable. Success is inevitable. Consistency, discipline, focus. You consistently do these things. You focus on this. It will come. We promise. Now with that being said, Robert, let's introduce today's episode sponsor. Sounds amazing. You have the highs, the lows, the soaring spirits, and the gut punches. The stock market's volatility has been a good reminder of why we always diversify our portfolios. New data from UBS shows private assets like finance. art can be especially valuable when looking for low correlation as they have historically moved independent of the stock market. Bloomberg reported as equities cratered in 2022, art prices increased along with the highest total sales ever for major auction houses. Now, the art market has actually passed its pre-pendemic level. But how can we take advantage of this, Robert? Yeah, so tens of thousands of everyday investors are already using today's sponsor, Masterworks, where you can invest without needing millions or even an art degree.

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you can skip their wait list by using the link in the show notes below or by visiting masterworks. dot art forward slash rich habits that's masterworks dot a rt art right masterworks dot art forward slash rich habits and to read important disclosures visit masterworks.com forward slash cd love it let's go our favorite part of the podcast and it seems you all love it as well we're going to get into the q and a austin take us away on the first question so our first question comes from trevor h trevor hit us up in the dms on instagram and he said Listen, guys, I'm 20 years old. I live with my parents. I want to get married in a few years, but I'm still in college.

I'm only making about $2,000 per month. And I'm actually eager to start house hacking. I'm not sure, however, where to start or even how to lay out a decent timeline or a plan to follow. What do I do? What's the playbook? So I'm going to take a stab at this one. I think Robert's going to kind of rally behind me here. If I were you, as the 27-year-old, I'm kind of closer to your age here.

I recently went through this myself. I would forget about all of this and graduate and go find a job. right your income is your biggest wealth building tool so if you're only making $2,000 a month right now that's not on needle mover you're not going to be able to buy anything with $2,000 a month so focus on your grades get your degree and go find that job go get the internship this summer whatever you got to do but find that job paying 50 60 70 80,000 dollars per year I don't know what you're studying but go get a job now that you have a job and you're probably 22 to 23 years old make sure you're completely out of high interest debt maybe even pay off those student

loans if you have any leftover. I think you mentioned in your note though that you do have a scholarship, which congrats on. It's also a really, really big priority to build an emergency fund. I want you to think $10,000 to $15,000. Something is always going wrong with my house and I bought it pretty new. So you're definitely going to want one of those. So next, have that emergency fund, 10 to 15K. Now you've done all that, right? You got the job. You paid off the debt. You are making money. You're have the emergency fund. You're ready to rock and roll. Time to think about house hacking. So Robert, I want you to jump in here. share with Trevor exactly what house hacking is for the audience that might not know, and then talk about the new Fannie Mae lending opportunity.

You all hear me talk constantly that buying a single family home is your first property and your first investment in real estate is a horrible idea. So in this instance for Trevor, I love the fact that we can look at him house hacking. And what that means is right now you go and you buy a duplex, a triplex or a quadplex, which is four doors. And you would live in one of those units for one year. rent out the others, it would make your overall living expenses much less. You still have the right off of the depreciation of the property,

plus you have the capital appreciation in your benefit as well. And now here's the pro tip. As of November 18th, Fannie Mae just released a new program for first-time investors, and it's called the 5% mortgage. And what that means is you can buy up to a million dollars, up to four doors for $5.5. So if you do simple math, not saying that Trevor would go out and buy a million dollar property right out of the gate, but let's use that as simple math. Assuming your payment's going to be $8,600 a month on that million dollar property, and you rent out those other three units for, let's say, $2,200 a month.

They're all two-bedroom units, let's assume. Then all of a sudden, you only have a $2,000 payment for yourself to cover on a million-dollar property. This is an amazing investment opportunity for anyone that's looking to get into real estate because it's lower criteria to qualify than the FHA 3% or the 3.5% loan. But it's still so great because you can do up to four doors and up to $1 million. I absolutely love this strategy. And just to add some additional color, I was talking with my friend John Erringman at Johnny Finance on TikTok and Instagram.

He's awesome. You guys definitely go check him out. But he's house hacks, right? He's 27, 28. I think the first property he bought with his girlfriend at the time. Now, his fiance was around the $350, $400,000 range. It was a duplex. Bought that right out of college with her.

They house hacked that together. They've since moved out of that. And that's now a standalone unit, right? So now they've got two sort of people renting that out that he's cash flowing. And they went and bought another duplex now just the other month. They put 15% down because it was before this Fannie Mae stuff happened. I'm assuming they would have only put down five. if they could have, but they had to put down 15 because of other lending requirements. But now they're

living in one unit and they now have three different units that they are renting out and earning cash flow from, right? That's the goal. So Trevor, as we talk about house hacking, right, the goal is not to just live in a duplex the rest of your life. You want to live in the duplex, house hack it, maybe refinance it when the interest rates come down in a couple years so the actual payment you pay every month is lower. But once you've done that now, it's time to move out and maybe buy that second duplex or maybe that triplex, live in one unit, rent the other units out. And then And you say, wait, let's say I've got a duplex and a triplex. Now I have five units.

And then it's time to go buy that single family home and use the cash flow from those five units to pay your freaking mortgage, man. Like that is how people are able to invest in real estate, leverage these awesome tools like the 5% down callout that Robert had about Fannie Mae and set themselves up for long term success in real estate. Now, our next question comes from Caterina D. This one's pretty straightforward. She asks, is it a good idea to invest toward my company 401k if I don't have a match? Generally speaking, I would say no, right? If you think back to the kind of financial orders of operations, as we called it before with investing toward retirement, the first one to prioritize was that 3% match, assuming you have

that match with your 401k. If you don't, I would skip to number two, which is that Roth IRA. If you don't have a match, there's no extra free money to get excited about. So it's like you're just investing anyway. And we all know a 401K is not as flexible and it's not as accessible and easy to maneuver as a Roth IRA can be as it relates to buying and selling in real time if you want. So if I were you and your company doesn't have a 401k match, I would skip that all together and I would jump right to the Roth IRA. I would buy the VOOs, the VGTs, the VTIs, the MOATs, the QQQs, all the index funds we talk about in every single episode. I'd max that out every year and I'd rock and roll that way.

Robert, what's your take? Yeah, I couldn't agree further. It's just really 401Ks generally underperform the market because you have limited amounts of items that you can invest in and you don't have autonomy and total control of the 401K. So if there's no match for me, it's a big no. I wouldn't put any into it. I'd go right to the Roth IRA, start loading that up and really control your destiny because 401Ks just are not a good retirement strategy. They're great if you can get an employer match. but without that, I would just pass.

You just said something that stood out to me, right? Control your destiny. A lot of people think, oh, I'm investing to my 401k at work. I'm going to have a nice retirement waiting for me at the end of the rainbow. Or I got this all figured out. You know, I'm good to go. No, that is not the game plan. You want to control your destiny.

So even if you have a 401k right now, Robert, I talk about this all the time. Go download those statements. Go figure out what your 401k has performed over the last two, three, five, 10 years. Or maybe you just started. Is it this year, is it outperformed or underperforming the S&P 500, right? If it's outperformed, then congrats. They put you in some good stuff here, and you guys are rocking and rolling. But likely, 90% of you listening are underperforming the S&P 500.

Control your destiny. If you can change at all what those specific investments are, do that. And if you can't, get the free money and get out. Yeah, I just spoke with a co-capital client yesterday, and over the last 10 years, her 401K has collectively over 10 years, return 5.6%. You could fall asleep and put all your money in VO and 10x your return from that amount. So just everyone realize a 401k is not a great investment strategy. You want to get the free money and the rest you want to go to the Roth IRA and other investment vehicles.

Yeah, and just so we're on the same page and why that just blew my mind, the S&P 500 is up 140% versus this person's 5%. over the last 10 years, right? So huge difference. Do you want to two and a half extra money or do you want your money to grow by 5%? Right? This is why it's so important to know what you're invested into and to have control of your destiny. Now, our last question comes from Eduardo P. Eduardo says, I'm in my mid-40s and I'm just getting started. I should have between five and $10,000 ready to go to work for me by the end of the year. Assuming I'm starting from scratch, Robert, what should I do? Well, we just briefed really all of what you should do in the last question. For me, it's always pretty simple.

Get it all figured out. So let's assume you have that 10K and you have no investments, no high interest debt, no bad debt anywhere and you're starting clean with 10K. I would right away go get my individual brokerage account set up in my Roth IRA. I would probably put 3,000, of the 10,000 into a mixed bag of the ETFs and index funds we talk about. I would also then probably go and get a public.com account. There's a link in the show notes. I would get some money into Bitcoin and Treasury bills.

Treasury bills are a great place to put money right now in these uncertain markets. And then I would also probably take a portion of that $10,000 and I would get some money into Fundrise.com, into the Innovation Fund and the real estate, maybe $1,000 each. Then I would open an Acorn's account, set my roundups, maybe deposit $1,000 in there, and then you'd be really well covered and diversified. right out of the gate. Yeah, I love that. I think I'm going to even go a little bit more aggressive with

the Roth IRA, try and max that out, right, at about $6,500 per year. That'll leave you about $3,500. You could also do, you know, with that $3,000,000, do $1,000 into Bitcoin with the public.com, $1,000 to treasuries, $1,000 to fundraise, $500, and go into acorns. And you're doing the roundups now with the acorns. So that $500 is soon going to be $1,000, $2,000,000, thousand as you continually spend and round up your money i love it i mean here's the deal right it's a lot simple than people might think that's all we're trying to get to create the budget figure out how much you're spending understand what you're investing understand what you're not investing and once you figured those things out by just listening to this episode again and again and writing and taking those

notes you just have to practice it right we give you the playbook you just have to have the discipline to actually do it you can't say you're doing it the rich habits way if you're not actually doing it the rich habits way, right? We want everyone to succeed with money. It's a lot simpler than you might think. It might seem intimidating, but that's why you listen to the rich habits podcast. We want to break things down for you, bite-sized pieces in a very approachable way, no matter where you are in your wealth-building journey or where you are in your unique situation. And if you have any questions about that, remember, Eduardo O.P., Katerina D. and Trevor H. all asked us questions on the Rich Habits podcast Instagram account. That's where we found these.

If you have a question along the way, ask us on Instagram, send us an email. at Rich Habitspodcast at gmail.com. I will get back to you. Give me some time, but I will get back to you. We get a lot of emails. Or join the Discord group in the show notes below and join, I think it's now 300 other like-minded individuals who are trying to build wealth and, you know, prepare for the future. That's what we're doing for this podcast.

We're so passionate about it. We're so grateful and excited you all come around every single week to listen to us. I think we're now just to clip 70,000 weekly listeners, Robert. It is absolutely unbelievable. Wow. Thank you so much from the bottom of our hearts. We truly appreciate each and every one. of you for joining us week in and week out on this journey as we build this community, this podcast,

our TikToks, our Instagram, our Discord. We just love it and we're so excited for the future and appreciate each and every one of you. Oh, and stay tuned on the covered call option webinar. Don't worry, we're still working on that. I actually made $770 this morning selling call options, covered call options on my Tesla position. So I can't wait to share exactly how I did that in about five minutes this morning coming soon. That being said, everyone, Have a great start to your week.