Rich Habits Podcast - 63: These 3 Mindset Shifts Will Make You a Millionaire

Episode Date: May 6, 2024

In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz talk about the three most important mindset shifts everyone must make to become a millionaire. ---Discover Yahoo Finance's redesigned website and sync your existing brokerage accounts, click here!---Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks: https://www.masterworks.art/richhabitsPurchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more.See important Masterworks disclosures: https://www.masterworks.com/cd---Save your seat at our FREE webinar all about Direct Indexing, ⁠⁠click here!⁠---⭐ Download our FREE Budgeting Template – ⁠click here⁠⭐ Earn 5.1% on your savings with a High-Yield Cash Account – ⁠click here⁠⭐ Trade stocks, options, music royalties and crypto on Public – ⁠click here⁠⭐ Automatically buy stock where you shop with Grifin – ⁠click here⁠⭐ Protect your family with term life insurance from Suriance – ⁠click here⁠⭐ Use code “Spotify” for 15% off our 4-module video course – ⁠click here⁠⭐ Optimize your portfolio with Seeking Alpha – ⁠click here⁠---👤 Explore everything Austin does – ⁠click here⁠👤 Explore everything Robert does – ⁠click here⁠❓ Ask us questions for our Q&A episodes – @richhabitspodcast on Instagram📬 Inquire about working together – [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.

Hey everyone and welcome back to the Rich Habits podcast, a top 10 business podcast on Spotify. My name is Austin Hankwitz and I'm joined by my co-host Robert Croke. Robert is a seasoned entrepreneur in his 50s with lifetime revenues of more than $300 million, 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 I 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. So Robert, what are we going to be talking about in today's episode? In this episode of the Rich Habits podcast, we're going to break down the three most important mindset hurdles you need to understand and be able to over. overcome on your journey to building wealth. Both Austin and myself struggle with these mindset hurdles early on, and we can imagine some of you listening right now might be struggling as well. So the month of May is mental health awareness month. So we want to lean into this as we believe it is one of the biggest and most important topics in modern society and to becoming wealthy. I completely

agree, Robert. Mindset as it relates to building wealth is not only the most important. part, but if you don't do it correctly, it can even move you backwards. You can go net negative because you have the wrong mindset going into this. And we're going to be talking about three specific hurdles that I struggled with. I definitely had a lot of time over the last couple of years to reflect upon this. And so I'm eager to share my thoughts. But Robert, why don't you kick us off with the first hurdle that a lot of people struggle with early on when they're trying to build wealth? Yes, this is a very important one to start and that is FOMO. We've all heard it, fear of missing out. And I think it's just very, very critical, especially in your younger years because so many people get caught up in all of it

with their friends. It really is troubling when you can't decipher between should I or shouldn't I when you're trying to build wealth, but you're not quite there yet. So I think FOMO is very important for everyone to understand. You know, how do you define FOMO? I look at it. It's like that last minute trip with friends where they hit you up on a Thursday and say, yo, we're going to Vegas this weekend to party it up or party it up or Nashville or wherever they're going to go and you can't afford it, but you go ahead and swipe the credit card anyway, you go hit up all the restaurants and the bars and you're spending all this money and it goes for any age group. We've all been in that situation where this distant friend that we barely talk to anymore invites us to their wedding and boom, two, three thousand

later, we go to this wedding, even though they're not really a close friend anymore, we barely stay in touch, or we didn't have the real conversation and say, hey, I would love to join you in your amazing day, but I just really can't afford it. There's a term out right now that's really cool that I think is trending called loud budgeting. We've all heard it before. And I think this really comes into play when it comes to FOMO because you need to be able to have these honest conversations, not only with yourself and your partner, but also your friends. Hey, Billy, hey, Mary. I would love to join you on your special day, but it's just not in my budget right now.

I appreciate it, and I'll see you when you get back. So these are things that are very, very important when it comes to FOMO. And for people to understand that it's a natural reaction because you don't want to be left out, but it's important for you to be able to decipher the difference so you're not continually kicking the can down the road when it comes to your financial journey. You know, Robert, I turned 28 years old in a couple days. And as I think about my life when I was 22, 23, 24, 25, 26, I had a lot of FOMO. You know, I was the guy in the beginning who got the job. I felt great about it. And I definitely overspent a little bit than I realized, wait a second,

I'm never going to become financially free if I still go hang out with my buddies every weekend, or we go on the trip that I can't afford, or I, you know, go out to dinner this night, I go get drinks. It just wasn't in my budget. And so when I began to take a step back after, you know, I did that for the first six months to a year post college, I took that step back and I was like, listen, guys, this is not part of my plan. You guys go have fun, but it's a sense of maturity, right? It's a sense of overcoming the mindset hurdle of, man, all my friends are doing this. They want me to come do this too. I really want to go. But I am mature enough to understand that it's not in my cards, right? I need to make sure that I'm sticking to a plan that I'm

I agree upon and a plan that I am working toward and trending higher within. So I'm really excited about that. Now, that's one side of FOMO, Robert. And I think a lot of people could relate to that. But the other side of FOMO that I also fell victim to, and I'm sure people have here as well, which is the investment side of FOMO. People invest into like the craziest penny stocks that they see on Twitter or the craziest crypto coin that they just found because their buddy on, you know, whatever website told

them to buy it where they see it's up 200% overnight. and they go all in on it and they lose money because they bought the top, right? So FOMO, Robert, is not just sort of feeling like you're missing out with experiences, but you can also have FOMO with investing. And it takes patience and just the realization that you can't make every trade, right? You can't make every investment perfect. You can't time the market. And only after, only after you realize that you cannot perfectly time the market,

because you're not expected to, by the way. No one expects you to make all the perfect trades along the way. I certainly haven't. I've lost so much money, as is Robert, and everyone else listening right now probably has too. But no one expects you to do that. And only until you realize that that that is not your identity, you are a long-term investor, that that fear of missing out on the next crypto coin, the next stock idea, the next IPO, the next this, the next that with your money, only after you realize that that is a pipe dream will you begin to overcome. this feeling of FOMO. And for me, it took years, Robert. It took me years to realize that I'm not this perfect trader investor. I'm instead a long-term dollar cost average type of guy. The key for

everyone in this FOMO part relative to investing is to understand. Have a thesis. Stick to the plan. And don't look in the rearview mirror because you're never going to time it perfectly. It's all about incremental gains over a long period of time. That is the best way to keep your mind at ease because of the fact that not even us, me or Austin, can time things perfectly. That's why you have to look at it from a long-term perspective. So we want people to understand that are listening right now that FOMO can stretch to all different types of your life, not just with your relationships or trips or friends or whatever, but also with investing, also with real estate, also with everything in between.

So understanding and getting over the FOMO hurdle is incredibly important. Indeed. So that brings us to number two, delayed gratification. And this one is equally as important because it comes into play at all ages. You see your friends buying the new BMW and the Mercedes or the new jet ski. You get caught up in the emotion of it. Well, guess what? Most of them are broke and you don't want to be that person. And that's why delayed gratification is so, so important in your wealth building journey.

You just have to do the math and you have to understand and not forget why you're on this journey and what your goals are. because if you can implement delayed gratification along the way, you will be so much further along. We always talk about having compound interest come into play. Well, guess what? People that don't utilize delayed gratification, their lifestyle creeps and creeps and creeps and creeps and then one day they wake up in their 40 or 50,

and they have very little to show for it because they have filled their adult years in buying depreciating assets. So that's why delayed gratification is so, so incredibly important. And Robert, let's be clear, we're not telling people not to have nice things. We're not telling you that you shouldn't be able to go buy a new car or shouldn't be able to go buy a jet ski or go on that vacation. What we're saying is that you should do it methodically. You should not make these purchases out of emotion, but instead because they are fitting inside of your long-term financial goals and your long-term financial journey.

If you can afford to go buy a jet ski without paying a 17% interest rate on that monthly payment, have fun this summer. Go buy the jet ski. The only way you can get a jet ski is to go up to a 17% interest rate to do it. That is not delayed gratification. That's fear missing out. And that's going to hold you back on your financial journey, right? Children do things that feel good. Adults devise a plan and they stick to it.

And as it relates to devising that plan, Robert said it best, do the math. To remind yourself, right, this is something I have to do a lot, Robert, is I have to remind myself, Austin, why don't I not just go spend $10,000 on a cool, crazy vacation? Why don't I not just go spend $10,000 buying something I've always had my eye on? Oh, yeah, that's because my plan is to retire a millionaire. My plan is to earn passive income through dividend stocks and real estate. And so even once a month, once a quarter, I go back and I look at, okay, how much have I actually accomplished toward this plan?

What is this plan now shaping to become in the future for me? And by sitting down once a month, once every three months and seeing that progress, Robert, I'm able to inch closer and closer from a mindset perspective of realizing, remembering, and feeling good about the actions I've taken. This comes into play almost every weekend. Every single weekend during the summer, we all have somewhere we could be. There's always a festival. There's always a wedding. There's always friends that are going to the lakehouse inviting you.

And if you don't put some sort of plan and play, you will fall victim to that. And every single weekend, you'll be going and spending all of that money and all of that time. away from your long-term dreams. That's why it's so important to have a plan and be able to say no when the time comes. Now, Robert, speaking of delayed gratification, I want to introduce a really cool company that I've been a user of now since college to our listeners.

This episode of the Rich Habits podcast is brought to you by Yahoo Finance. Robert, did you know that Yahoo! Facebook's website, Yahoo!finance.com just went through a redesign, and it looks incredible. So here's why I've been a user of Yahoo! Yahoofinance.com literally since college, their portfolio management tool. Yahoo Finance makes it

incredibly simple to securely log in to your existing brokerage accounts, allowing them to instantly pull your transaction data. Now, they present this data to you in such an intuitive way. I'm looking at my total investment portfolio right now and it's broken out by brokerage account and asset class. For example, I can easily see that 17% of my stock investments are in the technology sector and 12% are in consumer cyclicals. Now if I want, I can even click into that information to see what those holdings are as well as what recent news might be impacting their prices. Yahoo finance, their tools, their platform, the redesign, I could not be more excited about it. Yeah, I've used it for years and this new redesign is just incredible and it's just a great resource

for every listener that should be taking it seriously if you're trying to level up your portfolio management in 2020. I use Yahoo Finance when I'm researching new stock ideas, and their website just really offers key financial data across all the income statements, balance sheets, and cash flow statements. And we don't have to get too nerdy about it, but if you're into trading options, they have a simple breakdown of every stock's option chain. So what's my favorite stock research tool? Their holders tab. Please everyone take a note on this. I think it's so, so important to be able to kind of bookmark those important ones that you like. I can see what investment firms,

and hedge funds own and how much of what stocks allowing me to follow the big whales when needed. Be sure to check out Yahoofinance.com. Not only is their new website awesome, but their portfolio management tool is top notch. Everyone should connect their brokerage accounts to this tool and unlock the insights you need to stay on top of the markets. All of this is free, but you can also sign up for their bronze account for only $8 a month, and I think it's the best deal out there. Again, that's yahoofinance.com. Robert, I couldn't agree more. I've been the user of Yahoo Finance again since college here, and it's been my number

one bookmark. And the reason being is they show you what's trending, what's being talked about. They've got a great news section. They've got all the information video. I mean, they have their own video YouTube channel that's built into the website. It's so useful. So again, if you've not checked out Yahoofinance.com, they just did this awesome redesign. We're super proud to have them as a sponsor of the Rich Habits podcast, and you should

absolutely go check them out. We'll have Yahoofinance.com linked in the description below or just type in yahoofinance.com on your search bar. Now, Robert, walk us through the third important mindset hurdle people need to overcome as it relates to building wealth throughout their lives. Yes, this one is a toughie because I have to deal with it on a daily basis many, many times over because so many people struggled with us. And that is staying calm when the markets are not. I'm going to say it twice. learning how to stay calm when the markets are not. You all have to get ready for this one because Q2 and Q3 are likely going to be rocky.

And no knee-jerk reactions because you have to remember when in doubt zoom out. We talk about this each and every day on every episode, on every live. When there is a correction, you have to learn to zoom out because so many people, soon as they see bad news, they sell. Then it goes right back up. As soon as they see a retraction in the market, they sell. then the market goes back up. Now, we're not saying the markets are always going to go up and to the right.

There's always going to be pullbacks. There's always going to be corrections. And it usually is short-lived. And so I think this is so, so critical for everyone listening. You all know who you are to relax. Stop having these knee-jerk reactions immediately to news cycles. You're going to hear it from us long before it's too late in our lives, in our private communities on the podcast, if we think we're going to go into recession.

or a long-term drawdown. We're going to be talking about that. These short-term corrections should not be affecting your day-to-day life if you did this in a way without the knee-jerk reactions and without the emotion. It's just so important to understand the difference. In a really easy way, Robert, that our listeners can continue to stay calm when the markets are not is to have a systematic rules-based approach to investing. This is what I do.

It's very simple. I know exactly how much I want to invest every single month. I know it down to the dollar. So if you're listening right now, figure out that amount for you. Is it 15% of your take home pay? Is it 20, 25%? You know, what is that number to you? Figure out that number and then just let it go.

Auto invest. It's just automatic. Make it a system. Because when it's systemized and when you have no control over when it comes out, what it does, you just close your eyes and you just let it go, you don't have to worry about, oh man, wait, wait a second, the market's red. Do I buy? Do I sell? Oh, the market's green. What do I do? It's going up. It's going in circles. I just don't know anymore. It doesn't matter. Auto invest is your best friend. Have that system in place. Understand what that

rule is and stick to the rule. Yeah, just as a quick reference that I pulled up just so we can all think about it for a moment. I've been talking about Navidia stock for a long time. And if you look at right around May of 2021. So three years ago today, Navidia stock was around $135. It's at $872 right now and still going up. So that's why we always tell everyone, please, please, zoom out. Because when you look at these short-term stocks and these short corrections and the information that's in front of you day-to-day, you're losing track of what's important. And that is having a long-term thesis for your investments. Just keep that in mind that Navidia alone has done more than 4x in three years, and so many of you probably sold it when it was down 70% during COVID,

whereas you should have been adding to your positions if you believed in AI in that company. It was Jeff Bezos that had this quote. It's right after the dot-com bubble burst, Amazon stock was down 80, 90%. And he goes over and he looks, he's like, wait, our stock's down 90%, but everyone's still here. We're all still showing up for work. We're selling more goods than we ever have. our profits are through the roof, but our stock's down 90%, right? The stock price does not equal

the productivity of the company. So when you see stock prices go up or down or left and right or in circles on a daily basis, how doesn't matter? You wait for the next three months and then when you hear in that earnings call when the CEO or CFO says, yeah, things are going great. Like Microsoft, Amy Hood, their CFO was talking about their Azure growth is up 31% year every year. Unbelievable, right? And so that's the type of stuff we're trying to encourage you to stick out to, right? You are owning equity in a company. And so I'm going to own the stock in perpetuity as an investor, not a knee-jerk reaction trader. I love it. This episode is just incredible. I really enjoy digging into the mindset side of building wealth because so many people don't realize how

important it is to get their mindset right and understand how to do this correctly. And like you said, systematically, I just love it. That being said, Robert, let's jump into this week's episode's question and answer segment. Our first question comes from Nick A. Nick says, hey guys, I love the podcast. I've been listening for over a year now. Something I've never heard y'all talk about, though, is overtime. I can make an extra $2,000 a month if I work overtime at my job. Should I consider doing this, or should I go find a side hustle instead? Short answer, Nick, go get the overtime. The thing that people forget about with side hustles is there's a lot of upfront work to, I might make a little bit of money after time, right? For me, for example, I had to go when I was doing the cleaning the car headlights

side hustle in college. I would have to go buy the car headlights. I'd have to go advertise. I'd have to go knock on doors. I have to go, you know, do these things to tell people that I'm doing the side hustle, a lot of upfront work, and I'm not getting paid for until someone actually pays me to do that job. Nick, you have a very clear path to you work and you get paid a lot of money. So Nick, if I were you, I would work the extra hours. I'd make the other $2,000. And I know in that same message you talked about using this money to pay off your student loans faster. I would do that. I'd put all the money to paying off those high interest student loans. I'd get it behind you and I'd start building wealth when you're ready. Okay, I'm going to put a different wrinkle in this, Nick. Love the question. I think the

overtime is fantastic, but if you have a side hustle in mind that you think you could prevail at and do really well with, here's another way to look at it. If you started that side hustle and you memorialized it with an LLC and you set it all up as a company, then what you could do, that you can't do with your W-2 income or your overtime income is you can utilize write-offs against your ordinary income from your W-2 employment. So that is one other way to look at this. I love the simplicity of just adding the overtime and getting the cash right away. But at some point, if you do have a side hustle in mind that you think you can really do well

with, I would look at that and memorialize it into a real company once you start making money because then you can write off against that ordinary income and save your some money on taxes. That's just my opinion of another way to look at it. I think that's a great perspective, Robert. I actually didn't even think about that, which is cool because that's why we co-host the podcast together. Now, Robert, before we jump into the second question, I just want to take a moment to talk about market volatility because I don't think this market volatility like the volatility we're seeing today is going to go anywhere. But investors can still diversify a portion of their overall portfolios with historically risk-reducing assets like contemporary art. And you won't find a

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I'm super excited about the 30, 40, 50% returns they've seen over that same time period, completely uncorrelated to the stock market. So all the volatility that we've been talking about and sort of that emotion that comes with market volatility MasterRex could definitely help you keep calm and carry on. So with that being said, our next question comes from Jessica G. Jessica says, what are some platforms to invest in gold? Good question, Jessica. Robert, explain one, what gold is from an investment perspective. Two, why the price of gold has been increasing so much over the last six to nine months. And three, if you have any specific platforms or ways that you've invested into gold in the past.

So we always talk about diversifying into other asset classes besides the stock market or crypto. And I think precious metals is just one of the most known asset classes for diversification. And so I think that's why gold should be held by everyone as a portion of their portfolios. It's a good store of value. People, you know, like it. It's shining. It's fun. And it's a good parlor trick to say that you own it.

There are a lot of great ways you can invest in precious metals. It can be physical. It can be through an ETF like GLD. But you can also use platforms to buy physical gold. I like J.M. Bullion. I like Monix. They're very good. And then also APM EX.

I had to look up because I've only noted as the letter. but American precious metals exchange is another one that I use. These are all really good. And I just believe that everyone should have a hedge in cryptocurrency in gold as we diversify our portfolios. And that's why I do hold a portion of my portfolios in precious metals like gold. And to answer your question, I think the big reason gold is hitting these all-time highs is just because inflation.

With inflation accelerating, I just feel that people are moving more and more of their money into these hedges, investments like gold. And I think that's one of the big reasons we're seeing these new all-time highs recently. So good time to be a gold owner. And, you know, I always feel it's good to own a portion of it in your portfolios. I agree, right? I think, you know, it's called it one to three, one to five percent, you know, in someone's portfolio should definitely be in gold. Or gold and silver, things like that. But I wouldn't want people, you know, I don't invest in commodities, Robert, in a serious way. I don't have wheat futures. I don't have oil futures. Like, I'm just, you know, their commodities are very speculative. And so gold's the same thing. Gold is a very speculative asset. And it goes up in price

because people buy it. It doesn't go up in price because it pays a dividend. It doesn't go up in price because the CEO of gold announced earnings or things like that, right? It's a commodity. It's metal. And so as you think about diversifying your portfolio, I totally agree. One, three, maybe five percent of someone's portfolio should be in gold. I think it's a cool thing to own. And, And historically, it's, you know, it's underperform the S&P. It's not something that is going to outperform, but to your point, during times of high inflation and, you know, economic turmoil, gold tends to rise. So from that perspective, I think that's a great idea. But I don't want people to get the idea that investing in gold is the same as investing in the S&P 500 or the same as investing even into Bitcoin, right?

Because, again, gold's not going to pay you a dividend. Gold doesn't have profits to share. gold doesn't do share buybacks. Gold doesn't, you know, do these things because it's a commodity. It's a shiny metal. And that shiny metal goes up in value when things happen that are unfavorable to the economy. And so that's what we've seen recently. But to answer your question, Jessica, I agree GLD is a cool ETF to own if you're looking to just add it to your portfolio and your brokerage account. You don't want to actually own physical gold. Robert called out GLD as an ETF and I totally agree on that one. Now, Robert, our last question comes from Stetson S. Stetson says, hey guys, I recently found the podcast and I absolutely love it. I'm 26 years old, engaged, and I own a single family home. We bought it one year ago for $375,000 and now it's worth $420,000. We have a 7% interest rate and our monthly mortgage payment is $3,000. We're doing every side hustle in the book to try and earn extra money to cover this payment, but it's becoming increasingly harder. Do you have any other ideas on how to offset this payment every month? Oh, Stet's.

It seems to me like you probably shouldn't have bought the house, my guy. $3,000 a month is really expensive, especially, you know, you're 26, you're engaged, you're not really married yet. You probably haven't combined finances. Maybe you have, I don't know. But man, like my payment, like I'm 28 later this week and my monthly payment on my mortgage is like $2,400 at a 6.6% interest rate. And that was borrowing like $320,000, $330,000 to do so. So definitely the same boat as you there. If I were used Stetson, it doesn't sound like this house has been a blessing in your life. It sounds like this house is a curse. It sounds like this house is inhibiting you and your wife, soon-to-be wife, from building wealth. You know, a lot of people make the mistake in thinking that, oh my gosh, renting is throwing money away,

renting is the worst thing, renting is this, renting is that. Don't get me wrong. I don't think people should rent their whole lives and rent into retirement, but renting through a season of your life as you're trying to build your base or pay off high interest debt or, you know, expand your wealth building capabilities is a great idea, especially if you're staring a $3,000 month payment in the face. Stetson, I know this might sound hard to hear, but I would probably sell the house while you still have equity in the house. I would then take those profits and use that to either pay off any high interest debt, maybe, you know, put some aside for the wedding, but really put that money to work, invest it, the ways we talk about.

out in the index funds. And I was doing some research, Robert. Stetson said he lived in Las Vegas and the DME sent us. Las Vegas, the average rent is $1,500 and the most expensive is $2,200 for that one bedroom apartment. Obviously, you could get more than that. It'll probably be more expensive, but I don't know if it's going to be more expensive than $3,000 a month. So maybe renting is something you all should consider. The numbers look like they're going to be in your favor. Yeah, I always look at it that too many people live in existence of being house broke. And if you're already saying the words that it's a struggle to cover the payment, that's a bad sign, especially at your age. I would say ditch the house, rent something for two or three years, sock away as much money as you can towards your

future, because then you have compound interest on your side and you can let that money grow. Then maybe look at house hacking when you get back into the market. You guys are still young. Say you're 28, 29 years old, buy a duplex, buy a quadplex, let the tenants pay your mortgage. That way you can continue on your path to building wealth. Because at the end of the day, if you have too much house and you're not putting away money and you're actually struggling to make the payment, that's a recipe for disaster and waking up one day and being 40 years old and having nothing to show for it. You know, median days on the market right now, too, in Las Vegas, according to Redfin, is down 21 days a year over year, which is good. That means that houses are selling faster. Yeah,

median sales price right now for a house in Las Vegas is $425,000 up about 6%. Yeah, man, if I were you, I would totally take advantage of this. Like, you are getting an opportunity to get out of a bad situation. I would sell the house for whatever you could get for it that is reasonable. Take the profits, pay off high interest debt, invest some, put some aside for a wedding perhaps, and rent for maybe two to four years. You're only 26 years old. Rent for a little bit. And while you're renting, use that as an opportunity to build your base, right? This is a season of your life that you are focused on doing one thing, getting as much money invested in the markets as possible. Stetson, imagine this. You're 30 years old. So let's fast forward four or five years. You've been renting. You've been stocking away money.

You've been doing everything you can. You took the profits from this sale of the house and you put it in the stock market. You're 30 years old now with $100,000 invested. And now you're in a position where you can go buy a house. That $100,000, if you don't touch it, until your 67 is going to be worth $4 million. That's what we're trying to push you toward. We're trying to get you in a position where building wealth is inevitable for you. And right now, when you're struggling to make your mortgage payment and you're doing all the side hustles just to get by, building wealth is a struggle.

We want it to be inevitable. Yeah. It's just so important for people to understand the goal isn't to own things. The goal is to own your time. At the end of the day, that is the most important thing. I couldn't have said it better myself, Robert. Everyone do not forget this Wednesday, May 8, at 4 p.m. Eastern Time. We will be talking about direct indexing. Through a free webinar, all of you are able to come in, reserve your seat for, and attend again completely for free. It'll be about an hour to an hour and a half, and it's going to be a blast. Direct indexing, it's something so important. No one's talking about it. And you are going to walk away from this, like, mind-blown. Just absolutely mind-blown. blown as to how awesome this strategy can be, not only for building wealth, talking to you, Stetson,

but also for making sure that the money you've earned in the markets, more of that stays in your pocket after taxes. Yes, thank you all each and every week for joining us on this incredible journey of Austin and I, just building, building, building, and sharing it all with each and every one of you to help you reach financial freedom as soon as possible, but also learn the mindset shifts you may need, how to build your business better, how to do marketing. We try to cover it all to help all of you achieve financial freedom as soon as possible, and we couldn't be more proud of what we're doing, but also so happy to share it all with you each and every week.

We're incredibly grateful. Over 60,000 of you come back every single week to listen to the Rich Habits podcast. We promise not to let you down. Thanks, everyone, and have a great start to your week.