Trading Secrets - 8: CLASS IN SESSION! Live Q&A with our listeners!

Episode Date: July 5, 2021

Link to Join Restart All Access *When you join Restart All Access we will send you a link for a $60 deposit for your new Fintron Invest Account. Host: Jason Tartick  Voice of Viewer: David Arduin�� Executive Producer: Evan Sahr  *Jason Tartick and David Arduin are not registered financial advisors. They are providing their opinions only and not fiduciary services or financial advising. Produced by Dear Media.

The following podcast is a Dear Media production. Welcome back to another episode of Trading Secrets. We are rolling. We are rolling on a rolling and we're rolling because of you guys. Thank you so much for tuning in. Week in and week out, we just cracked about $250,000. downloads in a month and a half, gearing our way towards 300,000.

And what was really cool is the first week, we actually hit number one in the business charts. So thank you. And that's what this episode is about. It's about you guys. We have learned that we've had some cool celebrities on, sharks from the Shark Tank, influencers, and you guys still want to hear

from people like that, but you also want to hear everyday issues that people are experiencing and the questions they have. So we're actually going to have Girl with No Job on today. We've postponed that one. And what we're doing is a live Q&A. We're asking you guys to come to us with the questions you have. And in this episode, we touch on everything. Career changes, debt, student debt, investing 101, inflation, all the good stuff. And we have questions from 101, from as sophisticated as we

actually have a former Wall Street executive who asked a question. So I'm curious to know what you guys think of this episode. Hopefully there's some really solid takeaways for each and every one of you. And also one thing you're going to hear a lot in this podcast is the word restart. So I'll quickly tell you, I started a consulting agency called restart in March of 2020. Now, where most of our content is is on our Instagram, which is restart underscore reset, and that's free. We had zero followers before March and now have over 100,000. The whole premise of restart is to rewire the way we think about our careers and personal finance. And I started it because the market was crashing in March of 2020. And the S&P 500 and the Dow Jones were on every headline. So I quickly pulled my

audience in a brief paragraph or two. Could you tell me what the S&P 500 is and what the Dow Jones is? And of that survey, 91% answered honestly that they couldn't. And so that's where I figured there is a huge gap in what we're taught, but what we really have to know every day. And restart was born. And Trading Secrets is just one of the many things under restart that we do. So if you're looking for a Instagram, that is our Instagram.

The Home of Trading Secrets is Restart underscore Reset. And these people who bring up Restart are actually part of our networking group, which has been in place for about over a year. So that networking group was $25 this month, right now, we have knocked it down to $9. And in the recap, I'll tell you all about it. But if you're interested in joining, just shoot me an email, restart at jason tardick.com.

We're doing a free trading simulation in July, which if you join, you'll get an entry to, and we have $1,250 to give away. We give you access to come in live to our podcast on Zoom, on mute, and then ask any questions after. We have a Facebook group, a text line. We have a ton of things with the All Access membership. but I don't want to bear you with that.

If you're interested, just wait to the recap. We'll touch on it. And for now, enjoy this episode. Hopefully you take something away. And please continue to give us the feedback that you're giving us because we will adjust. Maybe we'll do this once a month every month or maybe we'll scrap it based on what you think. So that being said, we don't have one guest today, not two, not three or four. We have many.

And they are, our viewers, coming in hot with any question and every question. So let's ring in the bell with the viewers of Trading Secrets, our first live Q&A. Hi, my name is Angelina Shrinner. I'm from Philadelphia, Pennsylvania. And I'm a background actor. Wait. Wow. Did you say like background actor?

that's like that's the only thing I do right now can you tell me the craziest gig you ever had hmm well I worked on a show called dispatches from elsewhere I don't know if you've heard of that it was with Jason Siegel okay and just like I think just the set and the storyline of that was very weird so like we were working with mimes and dancers and Bigfoot and just like the crazy characters that were all walking around was really cool so that's probably the weirdest one but a lot of fun. My sister was a background actor on Happy Gilmore, which is kind of...

Wait, what? Why did I know that? I don't know. I have a dumb question, and if you don't feel comfortable like telling me this, it's fine, but I've always been curious. Like, when you're like,

I just think about different scenes where it was like all these people. How do you afford all those people? How do you have background actors get paid? I'll tell you what. Like, I ask myself that question whenever I am on set because I have been on set

where, you know, there's only four background actors, but I've also been on set where there's literally 300 of us filling a basketball. And it gets a little complicated because there's non-union and union. Luckily, I'm union. So that's SAG, right? SAG, yep, SAG-A-A-A-A-A-A-A-A-A-R. So they require a certain amount of SAG actors to be on each set. So those people are getting paid a little bit more.

But once they fulfilled that requirement, they have non-Unions, so they get paid a little bit less. However, they're not getting paid nothing. Gotcha. And they're long days, too. so you're paid hourly and like the shortest day I've ever worked honestly like recently was 14 hours shortest 14 hours I'm not done for in the 20 to $40 hour range over under or right there um okay I'll give you an example I worked on one project where I worked for four days and I got paid like $2,100. Wow background and so do most people work their way from background acting

to actual acting. Is that like a normal progression? Yeah. I don't mean actual acting. I mean like a main role type thing. No, no, no, yeah. Like, principal. Yeah. Some people do. Principal. Didn't know that. I am kind of, I just love really being on like a set. Like I know that that's what makes me happiest. And whether that's like in front of the camera as background or behind the camera,

which is something I'm trying to work towards. I just want to be on set. So I think I think background's a good way just to learn how sets work and everything because you're dealing with principal actors and you're dealing with the PAs who are running the show and the directors and everything. So you kind of get to see, like, how lighting works and how camera works and all of that. So it's a good way to get to know people for sure. Now, here's the Q&A, and we're asking you all the questions. I was just going to say, okay, we've learned enough.

I love talking about it. So what's your question for Jason? Okay. So related to that, recently this year, I left my full-time job to sort of dive head first into background and to make my career in film and TV, basically, because this is going to sound a little silly. But the last time I wrapped filming and I didn't have a date scheduled, I started crying because I love it so much. And I just know, like, that's where I need to be. But because I'm spending so much time doing that, I'm having a hard time figuring out how to manage finances

in between this career move. And like, do I tap into my 401k? I know that's a really bad idea. but not having an idea of exactly when the next paycheck is coming in or it's kind of like that feast or famine situation and I don't really know where to focus and it's just scary. So I was wondering if you had any advice for somebody who's in between careers and how to manage your finances. Amazing. Well, first of all, the career sounds so great and congratulations on pursuing your passion.

I now want to go be a background actor today. Try it. It's fun. But I'm curious, do you know, if I asked you right now, now? Could you tell me an idea of what your, and if the answer is no, that's fine. It's a takeaway. Do you know what your fixed expenses are on a monthly basis? I don't actually, but that's probably where I should start. Yeah. And do you know what you're, I assume you probably don't have an idea or maybe you do your variable expenses, like what changes like how they are a monthly basis? Okay. All right. So that's why I ask it. And I would tell you, 99% of people that if I ask that question,

they would say no. And that's okay. There's nothing wrong with that. But that is definitely this starts. So what happens, let me tell you, like a big company, right? When a big company wants to buy another company, what they're doing is they're just looking at historical performance to project what the future will be to see if like it makes sense and they can afford it. On a much smaller scale, that's exactly what you have to do, right? You have to look at what has been your historical spending on a fixed and variable basis. Fixed expenses are expenses that are kind of set in stone and you can't change them at this point. Rent would be one of those. Variable expenses would be going out for drinks or buying clothing, stuff like that. Have an idea of what those fixed and variable

expenses are on a month-to-month basis. Then say to yourself, how badly do I really want to pursue that job? Because if I want it bad enough, what can I do to give on some of these variable and fixed expenses? And how can I bring this number down? So you'll want to lean that number down. And then once you have that number, you'll want to make sure that hopefully you've saved up at least enough money to get you in a three to six month window. That's like usually at the bare minimum what you'd want to do. I personally would recommend

not borrowing against your 401K to do that because I don't want to create any type of debt issues. I want to put you in a position or you'd be in a position where you feel like you have some type of financial well-being while you're pursuing what you want to do so that the stress of finances aren't bringing or deterring you from what you're trying to achieve

with your career, which is moving from background to active, and up the ladder. So really get those numbers right and then plan accordingly based on what those expenses are. Okay. That makes sense. Yeah, I guess starting with what I need to pay every month and having an idea of that number

would be a good place. Work backwards. You have to. And you'll feel a lot better about when you do make a purchase, like if it makes sense, if it fits in your whole like balance sheet and all that stuff. Yeah. Yeah.

I think I've been afraid to look at those. Yeah. I've been afraid to look at those numbers. Exactly. The first thing is just acknowledging it. And then it's like now it's a psychology game. Like I want to pursue this so bad that I'm not going to get the Starbucks. I'm going to make my own coffee. And it will change every aspect of your life. And then you'll be totally ready to launch and go to the next thing, which is exciting. Awesome. Thank you so much. Thank you so much. And sorry for asking you so many questions before. No, ask away. I love it. I love it. Thank you. Thank you. Thank you so much. Take care. I'm Nicole. I'm from Buffalo, New York, and I'm an attorney. Let's go.

I love that, a Buffaloan. Nicole, what law firm do you work for? I actually work for a real estate development company. Okay, cool. And then what, okay, so is that the type of law work you're in then? Yeah, so I do a lot of in-house counsel, contracts, leases, lease any kind of negotiation that the firm has to, or the company has to do. That's kind of my role.

I also consult for construction, so I am on construction sites almost every day, and it's awesome. I love it. I'm construction site, just ripping up contracts and negotiating like a badass buffalo in wood. Right. You know, someone's got to be the pit bull, right? I love it. All right. So what's your question today? Yeah. All right. So literally this week, I started investing. Like three days ago, yes. It's about time. Round of applause. Let's give a breath. Thank you. Thank you. Thank you. It was something that I've been meaning to do for a while. And then honestly, I think watching your restart page, I'm like, all right, I'm going to dive in.

I'm going to do it. So I got into it. And, you know, I put in a little bit of money because I'm just not, you know, I'm not super confident yet. But it's so far so good. But I guess my question is, is I know looking at any type of security, looking at any company, it's a total picture thing. But if I had to just understand a couple things, whether it's market cap, PE ratio, or something else, what would you say is, you know, for a beginner, what should I be looking at when I'm looking at a company?

You know, again, I know there's some really great long-term investments, but for companies I'm not familiar with, what do you advise I look at? Yeah, I love the question because David's like ready to say, Dave, what do you guys say? David's like jumping the gun on this and I'm like, tell me more, David, what do you got? No, this is one, this is one where she starts saying things. I'm like, okay, I'm just going to sit back in my seat.

Like, I'm, this is all you. I'm out of time. You taking a pause here? I'm taking a pause here. Okay. So I think the, I love the question because it's pointed, right? Some people have asked like, oh, what do you analyze? What your due diligence look like? And we could, I could do a whole podcast on what due diligence looks like. I think to your question, you talked about market cap, which is a big one. I think the size of the company is the number one most important thing. If you know nothing

about a company, the size of the company will dictate its volatility, right? So a penny stock, five dollars share under, it's going to be extremely volatile. Small cap is going to be 300 million to billion in total market cap. Mid-cap's going to be the two to $10 billion range. Large cap will be $10 billion plus. Now, while obviously we see companies like Tesla and Apple have volatility, those large caps are going to have less volatility than the small one. So the size of the company is everything. You can't analyze any. You talk about PE ratio, price earnings ratio. You can't analyze any of that unless you understand the size of the company. Here's why. Let's look at a company like Amazon, who I don't have it in front of me, but Amazon's P.E. ratio. And let me first explain

to anyone out there what a P.E. ratio is. Thank you. I appreciate that. It's the price to earnings ratio. So, David, tell me if this makes sense when I explain it. But P.E. ratio will say, what is the price of this share as a result of what the earnings per share of the company is, right? So how much am I paying for this company for a dollar amount per share based on what earnings are? So it gives you an idea of value, right? So if you have this high price equity ratio, what they're saying is that you're paying a high price for the earnings of the company.

But let me give an example where this doesn't work if you're only looking at PE ratio. Amazon. Amazon's PE ratio is off the charts. All right, so Amazon's trading at $3,500 per share and the PE ratio is 66. So that tells you that the price of the share based on the earnings is off.

So in the typical PE 101 spectrum, it would tell you you're not getting great value because you're paying a high share price because it's $3,500 per share with a low earnings. But when you look a step deeper into it, Amazon's whole strategy is doing everything at almost no earnings, right? They're trying to take like pretty much monopoly over the market. They're operating on such thin margins that their competition is slowly going on a business. And that's part of their strategy as they grow. So that's why something like P.E. isn't always useful. And that's why we could do a whole podcast on specific ratios. But I think it's really important to understand the size of the company. You want to pay attention to their earnings release. You really want to understand what their earnings per share are, but also listening to the calls. What's management saying? What's their trends look like? And most importantly, for anyone that I'm saying this stuff, they're a little confused. Like, I don't even know where you're going. Where do I start? The biggest thing is understanding asset classes. So you just, you just just asked a great question about stocks, but there are so many different assets you can invest in.

You can invest in commodities. You can invest in stocks. You can invest in ETFs. You can invest in crypto. You can invest in bonds, savings accounts. Like, we can keep going. The most important thing is that you understand what asset classes are out there. And then the volatility of that asset class, the size of that asset class. And most importantly, how you're going to allocate those assets on a weighted average based on your portfolio size. So if you tell me you've got 100,000, you're ready to invest, you better have a damn good strategy of how you're going to weight that, what a dollar amount is going to go into what assets and why.

Awesome. Thank you. That was more than I expected. I love that. David, did that make sense, though? No, it totally makes sense. It does. And I think, you know, kind of going high level, looking at the size, I think that's just something that somebody can grasp that idea of, okay, what is the size of the company, what is the volatility, you know, keeping up with the news and knowing what's going on with that company just totally

makes sense. So I really appreciate that. Okay. And then the two basic metrics are like revenue and net income, right? So understanding what is the revenue and what the net income is and why. All right. Nicole, anything else? No, I mean, I'm just going to ask, you know, you're the curious Canadian. You're the co-host. I was just wondering, did you have to negotiate anything with Jason to not only get this? I don't know if you get paid for this, but to get into this position. Did you have to do any kind of negotiating? If you did, what was your strategy? Are you asking me if he's paying me to be on here? Yeah, exactly.

Right? Because you would think so. I was thinking it should be. No, really good. No, real quick. Like any good friend, he just told us he had this podcast. I asked what it was about. And there's my Canadian.

About. I was just about it. And I just kept, he's told me what the purpose was. And I kept sending him articles and articles like, I think this would be really cool. Like, I would love to learn about this. And he was like, you know what? You're really involved in this type of things. Like, you're very into.

like pop culture and current media events. And he's like, do you want to do some research and stuff and help me with pre-production? And I said yes. And then once we started thinking about the structure, he was like, you know what? I think that you would really relate to some people. And hopefully I am. And there we go. That's how it worked. But negotiation-wise, negotiation-wise, he kind of negotiated, he said, if this goes, we'll do this for the first six months. And if it goes well, then we will renegotiate after the first six months. So talk to me in five months. I'll give you a call. I think the other takeaway too is like David took self-initiative

like I didn't you know David was like I want to be involved and here's what I could do and here's how I could do it and I said well we're going to do a podcast what can you do and he's like I could do pre-production I'll do all the notes he did all the notes and then he had a couple thoughts and they were funny I was like why don't we do recaps

and so without his initiative this wouldn't happen so anybody out there that wants something put the plan together put a strategy together and like go pitch the hell out of it what's the worst people say no or re-revaluate the plan totally awesome Thanks, guys. Thank you so much.

So nice to meet you. Oh, bills. Oh, bills, baby. Thanks for coming on, Nicole. Thank you. Take care. Take care. Hi, guys.

My name is Jennifer. I'm in Orlando, Florida, and I'm a speech language pathologist. Very nice. Speech path. My question is, I guess for the last two years, I've been really hyper-focused on paying down my debts, and I'm proud that I've made a big chunk of that go away now. But I realized I really just have a small emergency fund for rent, and I'm kind of looking at, you own my money and I'm trying to figure out where to put my paycheck next. Should I focus on

saving for a house or investing, kind of what I should focus on or if I should just finish the debt off. Amazing. So let me ask you this question. From a debt perspective, what did your debt look like? And then you said you've paid it off. So where is it at today? So I had over $100,000. Wow. Because I had my bachelor's, my master's, and an unexpected car payment because I had, I overworked my car as well as myself, but I've paid more than 60% of it off. Wow. Good for you. 60 grand off.

Congratulations. That's amazing. That's impressive. Hyperfocus. You were right. You were hyperfocused. That is killer. So then I want to ask you about how you paid it off.

Before I do, I want to ask you about your credit. How has your credit score been affected, given the fact you had $100,000 in that? Okay. So it actually, I've talked to you about this before, Jason. My score would go down every time I paid off a student loan. but then eventually it would kind of go back up. But because I did individual loans per semester, I had like 19 lines of credit. So as I'm closing them off, they're like, well, you don't have enough. So I opened a credit card. I have two credit cards now, which I don't even let the balance

hit the thing. I just pay it off right away. Good. Good. Love it. Yeah. And then what was the other thing? No, so I think that that's a good question about your credit score. So your credit score was severely impacted then by the debt. And has it improved at this point, would you say? Yeah. I think it's in the good range. it keeps dropping every time I pay one, but then going back up. So I'm hoping it just stays. Yeah. So I think that's actually a good conversation for you and probably anyone that's listening. Most people ask how, like what determines my credit score? Like why is it moving in the way it's moving? The first thing, the number one thing with credit score, 35% of it has to do with your payment history. So are you paying on time? And then people say, well, what if I'm paying the minimum, am I paying the

minimum? Don't pay the minimum because you're going to get crushed with interest. But yes, if you pay the minimum, as long as you're paying on time, you're good. So make sure. sure that you have like some type of automated payment. The second one is when you alluded to Jennifer, it's amounts owed. What credit card companies want to see? And that's 30%. 30% of your credit score is determined by amounts owed. What credit card company or what the FICO score and what these companies that create your credit score want to see is they want to know that you have available credit, but you're not using it. Right. So if I have three credit cards that have $20,000 limits on them, and I'm not using it, it's seeing that I have $60,000 of credit, of line usage, I'm not touching.

What does that tell them? It tells them that, like, there's some responsibility there. Like, I recognize that I have it, but I don't use it. I use it properly. And that will increase your credit. The other thing is your credit mix. So 10% is your credit mixed. Do you have student loans? Do you have an auto loan? Do you have a mortgage? Or is it just credit cards? That's 10%. Next 10% of what everyone talks about, like when you get new credit inquiries. So like applying for new credit. It does impact your score. It will crush your score, no, but it impacts it. And then the last 15% is the length of your credit history. So how long you've had this stuff? So the big one for you there is really the amount owed given the line usage that's out there. So that's a big one to know

kind of going into this. But then I wanted to ask you, how did you actually pay that $100,000 down to get $60,000 off? What was your strategy there? So right out of grad school, I actually had two jobs. So I was working Monday through Friday to school, weekends, PRN rate at a hospital. So it was a little bit higher since I didn't have insurance through them. And I just, I worked a lot like sometimes 26 days in a row, which I wouldn't recommend for people. But it, I didn't get burnt out because it was such different environments. But I'm like weird. Every Friday, I look at all my bank accounts. Some of my friends say that gives them anxiety. They don't want to look. I have to look. I pay off, you know, like I said, credit card goes first. Then I make a huge payment to the loan. And I really,

don't give myself much other than my rent and stuff left. Obviously, emergency money, but all towards my bills. Good for you. I'm going to say good for you. I've been in that situation before where I was hyper-focused and I paid 93 months of student loans off in 10 months, but I was in a very unique situation. But I know that feeling and future Jennifer is going to thank her and Jennifer for being OCD and Jennifer's friends are going to be jealous of future Jennifer where you're like, yeah, I had to add 100K. It's gone. And now all that money that I was used to like pinching. I'm actually being able to understand and really get into your savings or your investments or buy a new outfit or get the steak instead of the chicken at a restaurant. That was my

life for so long. And all I got to say is like it's a person, for me it's a person. It sounds like you're hyperfocused. I think what you're doing is great. Just keep doing that. And sooner or later, you're going to be so thankful that you're in the position you are. Yeah. And the first thing to anybody out there that's having any type of financial struggle is addressing it head on. It's uncomfortable. It's not easy. It's not fun to look at your bank accounts when they're not in a good position or your debt when it's so high. But there's nothing you can do until you actually address and get comfortable with the fact like majority of people are in the same position. They're right there with you. So now that you have the debt that you have, what type of debt do you have going on?

So the remaining, I'm almost done with my car. I got that seven months ago. So I started paying that Because I talked to you about this too, Jason, with the loan interest for student loans being paused. I was still paying huge amounts, but I realized, okay, the car has more interest. So I started going to that. So that's almost done. I have like less than $3,000 on the car left. I have one more grad school loan, and that was the big chunk of it. And then I think undergrad was about $25K, so and much smaller interest rates.

So it's mainly just undergrad after these next few months. It'll just be my undergrad loans. Okay, good stuff. And so some of the stuff we talk about that maybe people that don't know is we have a business networking group and we talk a lot about making sure that you're paying your highest interest rate debt down first. There's a lot of people out there that will say pay your smallest amount owed first. The reason those people say that Dave Ramsey's a big one of those guys is that he wants you to create the momentum and the behavior to like feel good about that, which I get.

But in my head, I'm like, let's get over that feel good thing and let's just pay down what's most expensive because that'll feel better. you're down to 40K from 100K you're paid it off you feel like you have a good hold on how you're paying it you're not letting your credit card debt roll over which is a huge mistake for anyone out there what question do you have in regards to where you are now and thank you for sharing where you've been because i think a lot of people will just listen to that the last five seven minutes and they will have taken something that they could apply to their situation yeah of course um so i guess now like he said i've been hyperfocused i do still want to put big payments because like you said it makes me feel better, even if though it's a bigger amount or bigger loan, it makes me feel better

to put the payment towards that than the smaller one. So that I'm still going to do, but I'm definitely cutting back on the student loan payments. And I want to know, like, where to put my money next. Should I open like a Roth IRA? Should I look more? You know, spreading it out evenly across the board. My emergency fund is just like I said for rent. I really was just focused on debt. So what would you do next? The first one that is the most important that I will tell you to do before you even start building that cash fund is if your company offers any kind of, any type of benefits. So sometimes they have discounted stock. Sometimes they have a match. Take advantage of the match. It's 100% return. Most places will offer discounted stock at like 10 to 20% reduction.

That's an instant 10 to 20% return that you're going to get. And then once you feel as though you have built up that cash position, then there's a whole discussion about the investment strategy. And you have to have an investment strategy that aligns with what your risk tolerance is. And then you have to build a portfolio and understand how often you're going to invest and when you're going to invest, given the portfolio you build. And the last thing I'll pause with and see if you or David have any questions is through the FinTron app in the budgeting tool. You can actually align how much you want to save on a monthly basis, contribute it towards your investment account. And then they can actually help you with how you invest it if you don't feel comfortable. And their style is all based on the risk tolerance that you have.

And then when it's all of sudden done, you've paid up all your debt, you play Drake. started from the bottom now we're here and like you just like go really good about your life because it'd be in a great spot so you're doing amazing thank you thank you and are you still a speech pathologist yeah yeah i just actually dropped down from both jobs i wasn't really a fan of the full time and now i'm full time at my hospital so i just and i have benefits with them and all that too so and the beautiful thing is you'll get great benefits and with your career trajectory you're going to keep making more and more as you put in time. So I'll end with this tip. A Roth would be a great idea because the whole idea with the Roth is that your tax today and then your money is instantly working for yourself.

The idea is your tax bracket today will be less than it is in 10 years from now. Think about where you'll be in 10 years from now, how much more you'll be making. Your tax bracket will be higher. So the idea is like get tax now because the tax bracket is going to be less than the payment you'll have to pay in 10 years, 20 years, 30 years, towards your retirement because your income will be freaking 10x at least. All right. Thanks for your time. If you do have any questions, just throw them in the Facebook group. Bye, guys. All right, see you. Shana Stiver, Des Moines, Iowa, Copywriter. So as you might remember, I launched a copywriting

business this year. So I help businesses and entrepreneurs attract their ideal customer by getting clear on messaging strategy. And it's going really well. I have one retainer client and two more that requested proposals for a 12-month retainers. And rather than remain comfortable in my day job and the false security that the monthly salary brings, I've made the intention of leaving my full-time job in October and going all in on the business. So I'm wondering what advice you might have sort of the, here's what I wish I would have known when you went through this. Yeah. First of all, congratulations. It's awesome to see that you're doing that. I think the first thing I would tell you is one, just having an emergency cash fund.

So make sure that that timeline that you're building for October is really for like a calculated purpose. Like have money ready to go just in case of a rainy day. The second thing, I wish someone had told me is you think when you're not working for someone, it's going to get easier. It gets a hundred times harder when you're your own boss because the clock doesn't stop. Every minute you're not working, it's a choice you're making. with your time and that time is taking away from like what you have to do to like get where you want to get. So it's going to take a lot of effort and time. And I think the other thing is there's so much administrative burden. Just thinking about like tax prep and legal, having everything

legally set up in your website, all the administrative operational stuff that you can do now before you actually hit go and leave so that you can go to strictly revenue producing activity. the minute that you say go is going to behoove you. How much more fulfilling, Jay, so she can kind of take this with her, was your life when you switch from being someone's employer to your own boss in terms of, yes, it's a lot more work, yes, the paperwork, yes, the administration work. Getting up to going to bed, how much more fulfilled and motivated are you in your life? It's such a good question because it's changed everything.

Like I had the Sunday scary, so nervous going to work. I was having panic issues. Like my life has changed drastically. and when I'm working, I'm working 10 times harder, but I love it. I love every second of it. I can't wait for the next thing. And making 10 times more. And making a lot more. Yeah. So the other thing, Shawna, too, is I would say make sure that you know when to outsource. Like if you have a job that you can't do, outsource it. If your time's being constraint because of emails and busy work, outsource it. No one to outsource. Sean, I loved what you said too about the false census

security and monthly paycheck gets you because that's like the opposite of like everyone's like, no, that is the true sense of security. So from my very rookie 101 opinion, I think you're ready for this move big time. I think your mindset's right in the right place. Yeah, I actually have had like three times where I've heard that same sentiment. And I was like, it's not a coincidence. It's, I'm headed on the right track. And I know if I put all of my energy into scattered energy, which is what it is right now, I put all of that energy into building the business. I think like I can grow it even more fast. Here's the other thing I'll ask you, too, is your current job. Suppose in a year from now you fall on your face and your business sucks and you're not

making a petty. Could you go back into your current job? Yes. Or I could get it the same job. Yeah. That's, exactly what I said when I was thinking about going on the bachelor at. I'm just like, I could go be a banker any day, anytime, any city. When can I go do something like this? When can I take a shot? You could go back and I bet you you would have more confidence in leveraging your negotiation to actually make more or We're moving laterally to a new company and demanding more from your past experiences plus the experiences you had in the last year. So I like the chance. Yes. You're just going to build your skill set. You're going to build your brand. The other thing, too, is nothing gets your grinding like when you're backed up against the wall. And when it's just you, that the amount of things

you're going to do to succeed are going to be amazing. And when you do, it's going to be an awesome celebration. And while you're on this podcast and you got people listening to you, why don't you quickly tell people where they could probably find you if they're interested in your services? Yeah, it's ampersand copy and content. So ampersand copy and content.com. All right, Shana, let's go. We hope that you kick ass. Actually, we know you're going to kick ass.

And we can't wait to hear your success story in a year from now. Thank you guys very much. Thanks for your time, Shana. Lauren, I live in Huntington Beach, California, and my occupation is a wellness specialist. Love it. Huntington Beach. That's a good place. You say Huntington Beach.

I like already feel wellness is happening in my body. body right now. Yes. I moved here from Iowa, so it's much healthier. I agree. What's your question for Jason and I today? So as someone with David's salary, I make the exact same that you do as we've talked on the podcast. Soul sister. Yes. I'm curious as to how I should be allocating, like, separating my finances into certain categories and how much percent I should be allocating to those categories with each paycheck, such as like savings, investing, expenses, you know, health and wellness, groceries, how far do you split it down? And what percent should be going to each? That's David, you know what? It's a great question. And I have a thousand answers before

I get into it, though. You got to, I mean, that's your soul sister. Talk to your strategy. I'll give you my girl right here. So it can be a little overwhelming Huntington Beach. I can't imagine is that affordable of a place to live. I'm like the most. normal person ever with like zero Excel skills or anything. So I literally use my notes app and my phone so embarrassing. Like if I lost my notes app, I'd be dead. And I and I and it started with every purchase I would use week to week. I would put it in my phone and I would say what it was for. And then every week I would take that and I would put it in like a bottom section. It was like food. It was like social and it was like health and wellness, rent car, everything. And I would literally do it every week. So every week

would change. And over like a, I used like a month to get like averages of everything. And so I knew exactly like what my expenses were like fixed and variable expenses. And I would know every week like if I spend more than $291 on my variable expenses this week, I'm costing myself more to live than I am like money that I'm making for my job. And like that wasn't okay. So like I would go into every week on Monday being like, it's going to be a hundred dollar week, $120 week. And I could spend it on drinks or going out to eat. But that was just my. thing that I did. I'm sure Jason is now going to come in with like the proper way to do it for adults. So take it away, Jason. No, I think I first of all, David, I think the first good thing

about that is like maybe it's not the most efficient way of doing it out there, but it's, it's a process. Like, it's something that you have worked on and that you're doing. And I think first and foremost, like, just have that. So before I get into kind of my advice is, do you have anything at this point that you're actually using, Lauren? Not in particular. I'm a member of restart, which I love being a part of this group. And I have tried in the past to just write down, like, different subscriptions I'm a part of, what it costs me for like gas and insurance. I do live at home now, but would like to get out. So I want to factor in, you know, cost of rent, utilities, things like that. And it is expensive, like you said, David, in California. It's not

cheap to live here. So I do want to get better about my finances so that I can get my own place and, you know, feel like I can step out on my own. Awesome. Good for you. And that's so great that you're not like forcing yourself to be in an apartment or housing when you're not in a position to pay for it. So good for you. It's a good chance to like save up. So I think, you know, you touched on a lot of things. So I think the first thing that you should know is with the restart membership, we have a toolkit. But what we just did actually in the toolkit is we have budgeting guidelines and a whole budgeting tool that we hand it over to Finchron. It's the app that I've ownership in. And they just came out. with the new budgeting tool through their app.

And so the app is free. So you should check that out. And because what they do essentially is they help you identify what your costs are and then what your free cash flow is given your costs. And then how much of that you can budget to actually invest in. So that's a good practice. But that budgeting guideline that's in the Finchron app

is all based on the research we did through the Credit Counseling Society. So these are like mandates that they have, that they suggest. What they should say is that you should look at your expenses as a percentage of your income. And they have guidelines as to what those percentages should be. Now, again, it's not a one-size-fit-all. Nothing is with finance, but there are some, like, high-level rules you should look at. And so the idea is to be right around these percentages. And they say that, like, if you're within zero to three and a half percent of what these percentages are for spending,

you're doing it good. And I'll label some of what they are. So they're saying in general, housing should be 35% of your income. And if you're within 3.5% of that, you're doing it good. Now that includes like everything, kind of like your maintenance, utilities, mortgage, home insurance, etc. So that's 35%. They say that transportation should be in the 15 to 20%. They say food should be in the 10 to 20%. Your debt payment should be in the 5 to 15%. Personal, discretionary, 5 to 10%, and they have savings 5 to 10% and then some small other bills. So those are like the standard credit counseling society models. And I think the big thing is check out the Finchron app, see what you're spending as it relates to a percentage of what you're earning. And then you'll be able to see where

you have to make adjustments. It's like a report card for your spending. Awesome. Thank you. I just downloaded that actually. I haven't gotten too far into it yet, but I will definitely check it out. Amazing. Yeah, that's so good. And if you could just understand, because everyone's going to have different, like maybe David's spending too much in rent, but you're spending too much in food. So to just understand what you're spending as a percentage of what you're earning will help you identify kind of where to make adjustments. Write everything down.

Like for at least like say, okay, to the end of, like write everything down. Don't let a thing go. And then you'll see like maybe some things that you write down are like pop up expenses that are like, oh my God, I didn't budget for my tire blowing out of my car. But then you look back on it on like a three month cycle. I need to slush fund for pop-up expenses. I can't just live to the dollar every day. So just write everything down.

I think that's so important. And then use the technology, not the notes app, but the Finchranet. There you go. Thank you. I appreciate the advice. Awesome. We can do it. We can survive out here.

Let's go. Let's go. Soul sister, soul brother. I love it. Lauren, make it work. Thanks, Lauren. Thank you, guys. I'm Laura Krasiba from Calgary, Alberta, Canada.

and I'm currently a CPA up here. Wow, we got another. Fun fact, that was born in Calgary. Wait, I didn't even know that. Yeah. I thought you were born in Vancouver or Sunshine Coast. Born in Calgary, moved to British Columbia when I was six, got lost to the counterfeit stampede.

And I was three, not a big deal. All right. Terrifying experience. Somehow I strong myself with Canadians nonstop. And here we go, I'm outnumbered yet again. Laura, what's your question? As I said, I'm a CPA during the day. and I kind of want to start a side hustle.

So I'm in the middle of taking a nutrition coaching course right now. And I'm just not really sure even how to begin to start a side hustle with that. So I don't know if I should start now while I'm in the course or like wait until after. So I love it. Oh, David's got the finger up. This is the first question David said, Jason, move over to the side. I got this. You got this.

I'm passionate about this because I'm a hockey coach, very stereotypical Canadian way to go, David. But I also am very into health and fitness, and I do, I have a side business. So I have like a health coaching business. And my advice is how do you start and should you wait? Start now while you're going to school because and getting your certification for it. Because what you're going to learn with an actual client is going to trump, just like it always does what you learn in the classroom or a textbook or an online course.

And all you need is one person and let them do it for free. have your services, someone who needs help, and they're going to be your guinea pig, and you're going to learn from them, and you're going to take those experiences, it's going to make it better for your next client, your next client, and eventually you're going to have more confidence, you're going to charge more, you're going to see results, you're going to have more track record, more feedback, more references, more testimonials, all that stuff. So my advice is you're doing the right thing by taking a certification. Don't wait, just start it and find someone who's willing to kind of like, yeah, be in it with you.

Some things I've heard in nutrition is that there's actually a lot of like performance anxiety with managing a course or managing a class and like being up there and motivating people inspiring someone and so I would say get ahead of some of those early challenges and even if you can just shadow someone for free do that now while you're training because those are the things like right now

if you have all your certifications if you have your bank account set up and you have your licenses and your everything going what is going to be some of the first hurdles and how do you overcome those now as opposed to then I think is the question okay cool and then I and then I also think too Like if you believe in the work that you do, if you can actually as a health coach, like change someone's health, which is the most valuable thing in the world, can't be afraid to charge for it.

And then starting a new business and a side hustle is like that weird feeling where like you're passionate about it, but you're scared to ask money for it. If you believe in yourself and you believe the value that you're giving someone, you have to charge money for it because it's going to end up taking just as much time as your CPA, hopefully not in busy season and regular season. But it's going to end up taking a lot of your time because you're passionate about it and you're changing people's lives. So that's really important. I love that. And the last thought I have is realize that within this nutritional and training space, there are a lot more jobs than just one. And so if you do get the license and you realize I'm not this big like, go get them, guys, come on, let's do it. One huge way to make money in sports nutrition is supplements. So maybe you start hanging out at the right gyms and you're

working with the trainers and you can private label your own supplement and sell it through the trainers. You can make a ton of money in the supplement game. Yeah. I'm a supplement ambassador that I get my clients to use that product. You're an ambassador? You're learning so much. Can you give me a little swipe up? A little swipe up. I'll swipe up. I'll say it. Come on. I'll swipe up. There you know. Good. Good total.

No, but so I double down on that. And just, you know, do something that, that, again, it's a side hustle. It has to be something you're passionate about. So I think you're heading in the right direction. Don't worry so much about certifications and and spending too much time creating your side hustle out of, like, academia. Like side hustle is supposed to be passion and just getting out there and helping people. I love it. Perfect. Laura, let us know when we can jump in a class.

We're in. Yeah. Okay. Sounds good. All right. Thanks for coming. Thanks. Bye.

So my name's Alicia Paneer. I'm from Sun Prairie, Wisconsin. And my occupation actually just changed to marketing strategists with Podcast Nation. Wow. Podcast Nation. I know who they are. Yes, you do. Wow.

So you're working for, so podcast nation for anyone listening is a network that is owned partially by Caitlin's manager, Cleo. So that's good for you. Oh, let's go. Thank you. I owe a huge part to that to restart group. So thank you to the restart group. Love to hear that.

That's awesome. All right, Alicia, congratulations on that. What is your question? So with that change, I actually have worked in a government job for the last three years. And before that, I've worked in jobs that have not been a 1099 employee. But this one, since it's Canadian-based, they hired me as a contractor. And I have no idea where to begin as far as budgeting for the end of the year taxes. Like, how much should I be saving? What should I expect to be taken out at the end of the year? That kind of thing. So I was hoping to

get some tips from you guys about my budgeting and finances. That is such a good question. And so I'll preface this with the fact I'm not a CPA, but I am in 1099 work. So the beautiful thing about being a contractor is that anything associated within the constrictions of the law with the expense of your job, you can write off accordingly. So you'll be able to deduct your actual income from a gross perspective because it's 1099 income. So one of the first things you'll want to do if you haven't done already is set up an LLC. Have you set up an LLC for this income to flow? No, I have not. Alicia Paneer Enterprises has a nice ring to it.

Oh, I like that. Yeah, because you do need a name for this LLC. So the first thing you'll do, oh, look at David's feeling all good about himself with the enterprise. All right. Got on the back. So two ways to do that, Alicia. The first way is to work with an attorney that you might know through a referral network. The second way that anyone can do it at a pretty affordable price is go to legalzoom.com.

No, I don't have a sponsorship with them. Wish I did. But I have formed and now I'll see through legal Zoom. The third way is, Alicia, give me a direct message. I have an attorney that could help you out. But you got to create an LLC. All that will reduce your liability risk too. And then you'll want to work with an accountant to make sure that you're doing it all properly. But it's a good thing because you'll be able to definitely utilize expense strategies to reduce your overall income and your overall tax burden. Awesome. That's super helpful. I was also told there's a rule of thumb to save like 20% of your income per month towards the end of the year. Do you know anything about about that? Correct. So yeah, and I forgot about that part of the question. It's a good

point. So here's the deal is that obviously when that money comes to you, it's not taxed. But what happens is the company will send 1099. So the government will be able to see how much they paid you. That's how they do checks and balances. And you'll be responsible to pay taxes on that amount minus any deductions. And so the tough part about that is all the money sitting there where before a service like ADP would have taken it from you. So managing that tax liability is imperative. And this is where guys can get in guys and girls, or we've seen some headlines of, I could think of some Jersey Shore folks who had huge tax liabilities and never put that aside. I'm extremely conservative, extremely conservative. And I put 40% away just so I don't have a headache.

Just so I budget accordingly. That is extremely. extremely conservative. So I would say if you're trying to be a little less conservative in the 20 to 30 percent range makes sense. But instantly, that money hits, create a different account, transfer it over, done deal. Congrats on the new job, though, Alicia. Yes. Thank you. Just the motivation that I got from sitting through all of the Zoom meetings in the beginning of the year, it really like built my confidence up. So I just really thank Jason and his team because I would not be in this dream job position without them. Oh, I love that, Alicia. Thank you so much.

much. We appreciate it. We're so happy for you. And just know, July 6th, we have a trading simulation coming out where we got $1,1,215 for all access members. And the best traders are going to get some of that. So you'll have to participate in that. I will do that. Alicia Paneer Enterprises, just just think about it. Talk that one way. Nice little touch. Nice little thing of Ruski there. Thank you. Thank you so much, Lisa. Thanks, guys. My name's Melissa. I'm from Cincinnati, Ohio. and my occupation is lending, auto lending specifically. Nice, lender. All right.

So I was in lending for a good portion of my career, so I'm very familiar with it. But fire away with your question. Let's hear it. Yeah, so I'm kind of stuck career-wise. I don't know where to move from where I'm at now. I don't want to be in lending for the rest of my life. And my degree is in marketing. so I don't know where to go, how to correlate my lending experience into marketing

and where I want to head in that direction. If I want to head in that direction or something else, I'm kind of lost in what I want to do. All right. That's fair. I mean, most people are totally lost on what they want to do. And I experience that to the nth degree. But I think what you have to do is one of the first things you have to do is really understand

why, you know, in general, people want to change their careers. And there's a lot of reasons why. But if I had to just keep it high-level summary, I'm going to ask you a question. Do you want to change your career because you want better pay? Do you want to change it because it is a job that is creating a ton of stress? Is it because you're not passionate? Is it work-life balance? Or is it just the ability to not be able to accelerate in the way you would like?

Of all those, what would you say are the big ones that kind of hit the nail on the head? passion and moving on up. Okay. And do you, so the tough thing with that is those are actually two different solutions because the moving not, the moving up, my question for you is if in five years from now, you're at the same company. And what's your title today? I'm a credit analyst. Okay. So credit analyst. And so whatever your title is, let's say in five years, you're now a vice president of, no, we're not going to start a five years.

We're not going to say vice president. We're going to say you're a senior manager of the credit department. You have five credit analysts that report up to you. And whatever you're making, you now make 35 grand more a year. Are you still in the same position you're in now or not? Yes. I would actually hate to be in a management position with what I do. Okay.

So when you tell me a career acceleration, I feel like we're missing. If we accelerate your career within this company, within the department you're in, are you satisfied? well next move up and my department is management and you don't want to go to management no so acceleration isn't the issue well sounds like a value it sounds like you want to feel valued a little more so if you had to rank that to acceleration or passion which is the biggest issue passion okay so that that's kind of what the drill down and i know that was like a little stern and like like oh i feel like that was uncomfortable but i think that unfortunately is like exactly what anybody out there and that's why i was kind of like coming in with a struck tone with it is because anyone out there, you have to drill down with

yourself. You have to say, like, what is it? Like, if I put, if I'm 10 years from now, same company, VP, double my salary, am I happy? If the answer is no, then clearly acceleration's not the issue. If it's passion, let's talk about it. So it's clearly passion. The good thing about that is you can continue to stay in your job and you have so many hours in a week that you can identify what your passion would be. So it's not going to create too much of a financial struggle. What I would tell you is spend the time outside your work to identify what are the areas you're passionate about. You know, when you go, if you could play on the perfect weekend, what is the perfect weekend? Who is it with? What are those things involved? Is it going to a baseball game?

Is it traveling? Is it going to the mall? Is it shopping? Amongst all those passions are literally thousands and thousands and thousands of jobs. And to be able to secure a job in one of your passions is very, very easily done, especially when you're just trying to learn and you're willing to do stuff on the side. I have a friend who's big into finance. He has huge into food. He just said one day,

I'm going to go work for, it's one of the top restaurants in the world, actually out of Chicago, and he asked if he could have a dishwasher job. Needless to say, they gave him a job, and at nights, now he's working in an area that he loves. So he's learning the trade to see what's next. So I think that's part of it.

I'll say, too, when it, when it, I know it can be daunting because you said at the start, I don't know how to kind of take my skills and experience from lending into a new job that is different than lending because it's something that I'm really passionate about. My advice would be is don't worry so much about the tangible skills. Worry about your network. Worry about all these people, the resources that you have that you've met through this job and through your personal life and see how those relationships can also put you in a position to pursue something that you are passionate about because that's the really the real value that you've been putting

into this job. And this is like two people on two shoulders because he's got a good point there. Don't look at the tangible skill set. Look at the network. I'll also tell you on the other shoulder, knock it on Melissa's right shoulder, look at the skill set that you've developed within this job that doesn't relate

directly to what the title is. So if you're a credit analyst, there's a lot of competencies that you have within this job that can be done in other sectors or other jobs that aren't the direct definition of auto lending. analyst. So transferable skill sets are huge. Okay. Yeah, that's the thing is I feel like auto lending is such a specific job that it's hard for me to try to figure out how to get out

of it and where do I go. What's your dream job? That's the issue too. I don't know. Do some self-reflecting as to like what really excites you. And I'm telling you within those industries, there are going to be a ton of openings and transferable use of your degree and the skill set you've acquired. Okay. Thank you. Melissa, thank you for your time. Good to see you. Thank you. All right. Hi, I'm Shahar. Shahar Golan. I'm based here in Orlando, Florida. I'm a startup CEO entrepreneur. Awesome. Shahar, how's it going? Good, Jason. Great to connect and catch up with you. Yeah, good to see you again. Good to see you again. Fire away. Thank you for being here. The beauty is I also want to give a little background here. Shahar is in our business networking group,

and I know that his resume is stacked, so I might even turn whatever question he has on him also get his advice. A former Wall Street banker and entrepreneur, the guy's a stud, and a power couple. Your wife is a doctor. ER doctor, yes. ER doctor.

Medicine here at Daytona, the hospital of Daytona Beach. And I'll just be on the side here, eating popcorn, listening. I'll just say that I chose wisely. She's smarter than me, so I guess I chose wisely. I love that. I love that. Take it away, Shakira.

What's your question? Yeah, so I guess I'll be honest, Jason, I'd love to get your opinion, obviously, with your financial background is I know a big thing in the news you hear about is inflation, you know, 5% just this month alone versus, you know, I think it was last month. You know, we have this huge asset appreciation in stock, you know, stock market in housing. What's your strategy for hedging against, you know, you're hedging against these items? Like, I feel like everyone says that the markets do for a crash. what would be your financial strategy that you hear about it a lot in the news?

You know, inflation, you know, stock market record high, it's obviously unsustainable. What would be your best strategy for what we can do to practically prepare for what's going to come next? Absolutely. That's such a good question and something that's so relevant. And so I want to back up for anyone that's hearing this question saying like, okay, what exactly does that mean? Essentially what happens is there is an annual rate of inflation in the United States. and that is a pretty much a reflection on how our value of the U.S. dollar is impacted on things that we're spending, right? So as inflation goes up, so will the price of our gas and maybe our bread and our milk. And so therefore, the dollar is losing its value as inflation increases.

Now, one thing that's interesting is with anything related to inflation, and I'm sure you know that Shahar is that since 2010, we really haven't seen inflation in the need. United States. I think the lowest amount of inflation we've seen on an annual basis is close to zero. I think at one point it was like 0.1. The highest we've seen the last 10 years, and again, correct me of them wrong, is in the 3% range. So it's something that none of us have seen in 10, 11 years. But it's so important that we're protecting ourselves and a dollar against inflation of what could come. Like 5% is a very real thing. What does that mean for anyone 101 back there? your dollar is becoming less valuable by the minute at a faster rate today than it has in the last

11 years. So what that means is that you have to find alternative investments and alternative options that could help you give in inflation. That's exactly the background behind Chahar's questions. Now, a lot of things that you can do or that I'm looking into, and I'll rattle off a few and then, Shaharad, I'm curious your opinion and maybe some things you're doing. But one, commodities, right? Commodities are a way that you can hedge yourself against the market. When someone says, commodities, what are you talking about? You can look at gold. You could look at silver. There's different commodities out there that you can use to hedge against the market and inflation. Another one now, very relevant one, is crypto. I mean, you can look at crypto. That's

currencies, alt coins, and see, you know, those are ways of managing. I think that also alludes to the whole idea of a balanced portfolio. If you balance your portfolio accordingly with different commodities or bonds, it's also a strategy to hedge against inflation. Some alternative investments you could look at to is real estate, right? So passive income that could be paying your note down so that you're actually building equity in an asset. If you say that the cost of owning a house or a residential or commercial property is too much for your given portfolio, you can invest in something like a reed, right? A read is a publicly, you can go for a public or private read, But public reits, you can find on most trading apps.

And it's a real estate investment trust. And it gives you the opportunity to essentially invest in a company that does this professionally based on certain parameters of whatever that rate may be. What do you think? And what do you got, Shahar? I know you're well first in this world. So the balance that I guess I try to kind of question is, you know, we all probably reasonably expect there to be another crash.

would you hold on to your cash and wait for the opportunity in the dip, or would you kind of, let's just say, do crypto or something right now and say, you know, maybe kind of ride the wave. Like, if you think about it 10 years ago, or I guess now almost 13 years ago in the 2008 crash, whoever had cash and was in a strong venture position could really take advantage of a lot of, you know, real estate deals and things in the market or stock deals

that other people were scrambling at that time that weren't really financially kind of strong and ready for that. So that's why I'm kind of torn away. what you would do even from, you know, would you say, you know, bulk up now a defensive position or would you say kind of take a more offensive position and be proactive? I mean, so personally, I could tell you. So again, I'm not an advisor, but I right now in my portfolio, and some people who might call me crazy, I'm sitting in the 20 to 25 percent range of cash for just that purpose. I don't think we'll see a pullback like 2008, but what we are seeing, a lot of people

are levering up aggressively right now. And if there is pullback, a lot of that, leverage as we're seeing is getting called. And so people could be in tight positions when it comes to being able to get any type of leverage. And so if I'm sitting on the sideline with a decent cash position, in a perspective where credit might get tighter, I think it gives a ton of opportunity for both real estate investing, crypto investing. I mean, we obviously look at Bitcoin. Being able to get back in on the dips is pretty interesting. And you just have so much more power in the market. I mean, I'll never forget when Warren Buffett was sitting on the cash he was in 2008 and bought Bank of America at like $5 a share and look where that is today.

But I do think a preferred shares, I think too, yeah. Exactly. Exactly. And you look where that is today. I think timing the market is close to impossible. But I do think if you are someone who thinks that inflation will pull the market back, having a certain amount of cash on the sideline to get ready for that would make sense. Is that something you're doing?

It's interesting, you know, it's, we're kind of contemplating what to do, but it's interesting that you're saying you keep 25% of your, let's just say, like, you know, savings, cash savings invested in just cash rather than deployed out into like stocks or crypto or other kind of alternative assets. So it's actually very interesting. Like I kind of like me and my wife kind of discussed between us, like we have some investments in real estate, but like what should we be doing now? You know, like I just saw an article that, you know, 10 years ago, I think it was 11 years ago, right when prices had peaked 5% inflation, the market crashed in like the months, the six months thereafter. So like, I was like, man, we just had the same kind of metric in the

graph where we hit 5% inflation, you know, month over month. And are we due for something like six months from now when we're like, wow, whoever has that cash on the side can really then take advantage when things dip and kind of then sees a great opportunity that they wouldn't have if they're scrambling because they overstress themselves now. Exactly. And I could tell you, that move for my cash position was done in the last six. months or so. So having the 20, 25% in cash is not something standard. I do, but I think when we're seeing everything trade at all-time highs, we're seeing consumer price index, which is exactly what is talking about the price of goods raising at all-time highs month over month since 13 years ago.

And there's just a lot of, without getting too far in the weeds, there's a lot of analytics that are pointing to something happening. What that will be, no one knows. If we all knew we would be making the move. I'm just more, you know, in these type of situations, when I've seen the gains I have, I'm okay with taking a couple wins, putting some cash on the sideline, getting prepared for what's tomorrow. Well, thank you so much for holding it on. It was so, so good to speak with you. And yeah, thanks again, man. Ding, ding, ding, ding. Welcome back to another closing bell off what I will call a different episode, but one we might repeat. The live key. Q and A with all the listeners.

So what do we have to do in the recap? We got to bring in the voice of the listeners, the voice of the viewer, David Ardoin to give me his feedback on our first shot, our first try on the live Q&A. So David, that was a new one. That was different. It was also a whole hell of a lot of fun. What did you think? Yeah, I'm going to echo what you said.

I think it was a ton of fun. I think, you know, in the shoes of the voice of the viewer, what I would want out of episodes like this is to really feel. good about giving our listeners at home some tangible advice, some tangible takeaways. It's super fun to sit in the seat and, you know, listen to Kevin O'Leary and listen to some of these stars that we've had and listen to some of these really influential people. But it was also really rewarding to not only hear the questions that people had that we've been through that people at home are going through, but also hear how like prepared people are and how proactive people are

and how people are really taking like their finances and their life and their debt into their own hands. And it really was like an aha moment for me just being like, okay, this is more than just a podcast. Let's just get names on here and just trying to show off like what we're doing. It was like, okay, this feels right. Like this feels right. And I hope, hope, hope that people at home also felt that and kind of, you know, felt like they were in a conversation that we were having with our on-air guests. So that was kind of my long takeaway from that. What did you think?

How'd you think it went? No, I think that's a really good takeaway. To me, it was like a lot more depth, like when you're talking about the whole celebrity fact. We're talking to the people that are listening every day. And that what I was interesting is the wide spectrum of things that came up. I mean, everything from Angelina, right, who is a back, is like a backstage actor.

What is it? A background. A background actor. And then like hearing, like her trying to transition to something she wants to do. So obviously, like career changes to someone like Shahar, who is an entrepreneur, a former Wall Street executive, come on and shoot the shit in depth about inflation and how we should adjust accordingly. That's why I kept putting it back on him, too, because I know how well versed he is. So my question to you, David, is like, when we do this, and I'm curious what the people

out there say, do you think we should have like specific, I guess themes? Like, should it just be, okay, let's talk only about debt? Or do you kind of like the all over the place type? Q and A. I'll say two things. One, I really like all over the place. I think what we saw sometimes is some people had the same questions. So they get the same answers. Like we're not trying to reinvent the wheel here. If you ask about, you know, how do I, you know, pay off my student loans? You're going to get a similar answer. So if we had a student loan themed episode, you'd get some of the same answers. I liked that it was all over the place. I think it was more exciting for us. And I said in the episode, and I'll say it again, when it's all over the place and you yourself have less time to kind of think and

research but you still give such like impactful advice like again not to pump your tires but you are you it was it was also like shocking to me how educated and smart you are and well versed you are about all these things um it was it was truly just fun to be a part of so i think moving forward if we're doing this again i think kind of like at the end day whatever's on people's minds let's let's try and be that outlet for them yeah no likewise okay i like it and likewise i love that you're you had such great advice too i love the one with the trainer question you just like burgeoning I'll take this one. But we would also, you know, we'll throw these ideas around. We want to hear actually from you guys. You tell us, do we do themed Q&A? Do we continue to do Q&A? Or do we keep it

the way that it is? The other thing I'll say is if we do themed Q&A, it would also be cool if we even had like another very specific expert. So we had like me, David, and maybe one specific expert if we had a theme. But listen, the whole reason we're doing this podcast, we say it over and over is for you guys. So let us know in the comments what you think. But yeah, that was, was a whole hell of a lot of fun. I think what's so interesting and, you know, this is two buddies doing a podcast and we're trying to give like some really good takeaways at home. What's really interesting and what as the voice of the viewer, I want people at home to really understand is like, it is so hard to decide what episode we do every week. Like we're only five, six episodes in.

We have a bunch of episodes recorded with some really like influential people. Ryan Sirhant and Girl With No Job and Anthony Popliano and a lot of these people that we've referenced, we want our listeners to know that we value them just as much as we value a famous celebrity taking their time to be on our podcast. And that is why we're doing the Q&A because we see the questions on the podcast reviews. We see questions in our DMs. We see questions on the comments that Jay posts on his Instagram about new episodes. And we are listening.

And the only way, if you guys like these episodes, that we can continue to do them on a, you know, once a month basis, et cetera, is by keep your questions coming, keep the feedback coming. We are a podcast for the people. I am the voice of the viewer. So let's just keep flooding those, you know, those communication lines so we can make this keep happening if it's, if you find a valuable. Absolutely. We also have someone that is on top of all the comments, the DMs now, and the reviews. So if you put your reviews on Apple, give us five stars and put your Instagram. handle, we have someone on our team that is dedicated to listen to that feedback and bring it to us. Another thing as interesting is you could tell David's tones a little different here. When we recorded that podcast, I was like a little jealous day because David had a killer buzz going and I was actually detoxing from the weekend. So I was Sally sober over here. And David was fired up buzzing. So next time I might have to join you and have a few drinks. It was fun. Like at the end of the day, it was fun. And that's why I'm so appreciative to be a part

of this. Now, I think some of our viewers probably would want to maybe get in on the action, get an opportunity to kind of be on, be on live on the pod and do the Zoom with us and see our faces and get reactions and do all that stuff. I want you to tell the people at home how, how if they want to be on the pod, get on the pod, live Q&A, how is that a realistic possibility? For sure. So one of the things I talked a little bit about in the intro is the all access group and also the restart underscore reset page. So Trading Secrets is just another item under the restart, underscore reset company. And so that company I built over a year ago, and the whole idea is to rewire career

acceleration and personal finance. And it's also the home of the Trading Secrets, Instagram. But under that, almost a year ago, we created a business networking group there. And that business networking group has grown. Almost a thousand people have joined to date. And it's $25 a month. And you get a whole lot of stuff. but we're changing it all, and we're changing it all this month, and this is the first week,

July 6th. It is still the all-access networking group. And every single person that asked a question came from that all-access group. I offered that to them first because they get exclusive content. Now, it's only $9 a month moving forward. Additionally, if you do join the all-access networking group now and you join Finchron, we're going to give you $60 in cash. The other cool thing is obviously finance is important, so we're doing a trading

simulation in the month of July where it's free to enter, you get $100,000 in chips and whoever does the best from a performance trading perspective throughout the month, we have $1,250 to give away. So I was going to say $12.50, but I want to emphasize that. So that's all the stuff we got going. Then you might ask like, what actually is it? Well, there's a private Facebook group. There's a text line. If you have any finance or career questions, we answer within 48 hours. You can come live on every podcast we have. You can sit, come, listen on mute and ask questions at the end. Also, when we do the Q&As, you will be the first people that we pick from.

On that Instagram, we have a daily roundup, which will have anywhere from like 7 to 15 slides of things that you must know going into that day. We have a newsletter that comes out every Monday morning that you get to all this stuff. And I call it the shit you got to know going into your week. We have a monthly Q&A classroom session. And we have key events throughout the year that really. helps with business networking. So it's an all-axis event, nine bucks a month, networking, and exclusive content. People, all of that for $9 a month. I'm in my head thinking how I've wasted

$9 a month already, or $9 a day already on useless stuff when I could be filling my brain with that. I'm getting a double pump mocha chaka chai people a lot of day, hold the mill because I feel like I'm healthy today. The cool thing, dude, David, is like people actually have met each other and they're like doing business with one another in this group. So it already exist was 25 coming down to 9 you might ask like how do I get involved shoot us an email restart at jason tardick.com we'll get you all the details and you could be in the all access content networking group for trading secrets before we wrap this up people at home if you're listening let us know let us know if you like this or if you don't and if you don't like it we'll just keep

rolling on the celebrities and if you do like it we'd love to get people involved it's a holistic experience for us to be able to come on here and hopefully give people at home take away relatable advice to just help you and put you in a better position in life. So that's the last thing that I'm saying today. And you know what I like about you, David? This new fade, you got that one. Yeah, it's a little, yeah, it's tight fit. Big wedding coming out. Shout out Ben Rosen, big wedding coming up. Ben Rosen, here we go. All right, guys, thank you so much for joining us another episode of Trading Secrets. This was a little bit of a different one. So we really need your feedback. We rely on your feedback. We are here to listen and we are here to implement.

Hopefully this was another episode that you couldn't afford to miss. And let me tell you, next Monday is a step up. Get ready because we have some serious training secrets being released as we are back in action with the reality TV series and a reality TV show that might have just premiered on one of the big networks. I said I was going to stop talking, but this episode is electric if I had to say. And I think it was the first episode that we ever recorded and it came right out of the gates hot and it is electric. Oh my God. You take comedy, put finance and career detours all in one. That's what you got. And we'll be back next Monday. Another episode of Trading Secrets. One, you can't afford to miss.

Making that money and money, living that dream. Making that money, money, money, pay on me. Making that money and money, living that dream.