How to Invest in ETFs & Index Fund to Create Wealth

We're going to dive into the world of index funds, ETFs, and mutual funds. 

Are they worth investing in? Or should we stick to picking individual stocks? 

It's a question I've heard a lot, and I think it's time we really examine the pros and cons of each approach.

Throughout this episode, I'll walk you through the basics of index funds and ETFs, and explain their advantages and disadvantages compared to individual stocks. I'll also share some tips for choosing the right index fund or ETF based on your investment goals and risk tolerance.

As someone who's always been passionate about personal finance, I know how important it is to educate yourself and take control of your investments. By understanding these investment options, you can make informed decisions that will help you work towards building wealth and securing your financial future.

So, join me on this journey towards financial success, and let's learn how to invest in ETFs and index funds to create wealth!

IN TODAY’S EPISODE, I DISCUSS: 

• The importance of diversification in investing
• Understanding the concept of mutual funds and how they differ from index funds/ETFs
• How to choose the right index fund/ETF for your investment goals

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If you liked this episode, you'll love these ones:

• My Favorite Investing Accounts (And How to Maximize Your Returns)
• How the Top 1% Earners Accelerate Their Wealth (It's Not By Getting a Raise)
• How a CFO Can Transform Your Profits & Wealth with Michael King
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Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/

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Transcript

Mel Abraham  00:00
What is all this talk about investing in ETFs? index funds me? Should we be doing it? It doesn't make sense. What the heck is it? Well, in this episode of the absolute Entrepreneur Show, I'm gonna break it all down for you. We're going to talk about gambling. We're gonna talk about trading. And we're going to talk about investing. And we're going to talk about ETFs, and index funds. Welcome to this episode, the affluent entrepreneurs show. Let's do this. This is the Affluent Entrepreneur Show for entrepreneurs that want to operate at a high level and achieve financial liberation. I'm your host, Mel Abraham, and I'll be sharing with you what it takes to create success beyond wealth. So you can have a richer, more fulfilling lifestyle. In this show, you'll learn how business and money intersect. So you can scale your business, scale your money, and scale your life, while creating a deeper impact and living with complete freedom. Because that's what it really means to be an absolute entrepreneur. Welcome to this episode, the affluent entrepreneur show this one, we're gonna dig into the idea of index funds ETFs mutual funds, what are they? How do you look at them? Should we be investing them? Or me? Should we pick individual stocks? What are we doing? So here's, here's the thing. The idea of index investing is something that came from a gentleman named jumbo fact he was kind of the godfather of creating index funds. He was kind of he was he was the spearheading of a vanguard and all this stuff. And it's this question of is passive investing versus active investing better, which one's better. And statistics have shown that many times active investing, which is investing where we're trying to time, the ins and the outs of the market, on long term basis. The active traders, active investors, the actively managed portfolios over the long term do not outpace the market, that when you go to these professionally managed funds, they don't outpace the market. And so if they can't outpace the market in the long term, why not just invest in the market itself? Why not just invest in the index and say, let me just go along for the ride with the market, the market is return anywhere between eight to 12%. In the long term, the market typically goes up eight out of 1010 years, so, so why not just do that. And so we're going to talk about that in this episode. But before we do that, I need a little cya. Again, I'm gonna talk about index funds and everything. I'm going to talk about some of the funds that you could look at, but I want to be really clear, none of it. None of it is specific investment advice for you. I'm not telling you to go buy a fund. I'm not telling you to go buy an index or an ETF. I'm simply talking about them in generalities. So you can look at them, this whole show is about it is an informational show. It's an educational show for you, because you're not my client, I can't, I can't give you specific advice. But it's to allow you to equip yourself to do more research to give more advice to make sure that you have the proper context without bias of when someone trying to sell you an insurance policy and investment or something where they're getting a commission. So let's just be clear. None of this is specific investment, bison, I'm not telling you to buy a thing, but I am telling you to understand some of these things so you can make informed decisions down the road. Alright, so first things first, we're going to talk about this idea of gambling, versus investing versus trading because they're different. Now let's just deal with gambling right from the get go. Gambling, we don't do gambling is things like Gamestop All right, I don't know if you listen to that. Or if you watch that whole Gamestop kind of trajectory. Gamestop went from like 20 bucks a share, all the way up to almost 400 bucks a share. A lot of people made a whole lot of money. And then it came crashing down. And a lot of people lost a whole lot of money. There was no basis for it other than people talking about it. There was no basis for it other than a Reddit string that kept saying we're gonna hate we're gonna vinyl, vinyl, vinyl vinyl, they were trying to get at what we call the the short squeeze and everything. And I'm not going to go into that. But the point being is that there was no there was no analysis, there was no logic, there was nothing around it other than gambling. And if you want to do it, that's fine. I have actually speculative investments was a very narrow, narrow sliver. And I understand that they could go to zero. Now would I be happy now. But would I be devastated? Absolutely not. Okay, and so, but people got into Gamestop thinking this was, this was their ticket to the promised land. And then when it came crashing down, they lost everything. They just got hammered. That's gambling. Because there was no system. There was no process. There was nothing. It was pure emotion. It was pure adrenaline. And and it was, it was pure this talk this almost like a pump and dump. I'm sorry. All right. So if you choose to do it, I that's on you. But I wouldn't put my retirement and I certainly wouldn't bet the farm on. All right. And everything. So well, we talk about is really playing long term, I want to talk about investing for the long term, I want to talk about what it is to build sustainable permanent wealth, I want to talk about what it is to give you financial freedom to build a machine that at its core, will take care of you, your family and the generations beyond when it's done correctly. That's the objective. And so I want to break down the the difference between investing and trading, because I do both. But they're not the same thing. Not only are they not the same thing, they need a different mindset, they can never toolset, they need a different attitude, they need a different approach. I don't do it in the same accounts. And in they can't, they can't mix. You can do them. But they can't mix. But I want to I want us to to understand the difference first and then we'll talk about index and ETs. In a moment, sleuth, let's jump to my iPad. And those of you that might be listening, I'll make sure that you get the graphic will hook it up in the show notes or go to my YouTube channel, check it out. All right, watch the video or go to the webpage to make it happen to so Alright, so let's jump to the iPad. We're going to talk about the idea of trading versus investing. The first thing to understand is trading. Trading is a job, it's going to require you to sit in front of your computer and watch what the stock is doing to decide do you hit the trigger to buy? Or do you hit the trigger to sell whatever you do? It is a job. Okay, investing is a long term, buy and hold. They're very different. In a they come at it differently. So we're going to look at it from a lot of different levels as to why they're different. And so you can get a perspective, the first thing that I want us to understand is let's just look at what is it? Okay, what is it trading is buying and selling based on price movements, we're watching what the price of the stock is doing? Is it going up? There's a lot of time they're doing candlesticks and things like that. So we're buying and selling based on charts, and price movements. Whereas in investing, it's a buy and hold based on stock value. We're looking at the company, the fundamentals of the company, we're looking at their earnings per share, we're looking at their growth, we're looking at their business model, we're looking at their revenue model, looking at the outs, I'll look at it as a long term strategy that comes into play soaks. One is based on on short price movements. The other is based on long term vision for the company. The second aspect is what's the timeline? How long? How long are we into these things? Trading is short term quick entry quick as exit. It could be minutes that you're in. It could be hours, or it could be days. But it is short term quick trades. That's why you have to sit at your computer stare and say all out. Okay. Whereas the timeline on vesting is long term. It's minimum five years, but I think it's 10 years and beyond 10 years and beyond you if you've heard me talk about the wealth flatline. We need to eat up that well flatline. That is time that eats up that wealth flatline. And so it's it's a distant the exit is way distant from the from the entry. In other words we get in today, and we're sitting on a prolonged term. Okay. And and so they're very different timelines, which means that they're very different tactics and strategies that would that work. The third thing I want to look at is how are these viewed from a tax standpoint? And so, since the trading is short term, taxes are going to be taxed at the highest ordinary tax rates. Okay. Basically, you're in and out. So the way the tax law works, at least in the US, is in order to get tax favorable tax, treatment, capital gains rates, then you have to hold something for more than a year. As long as you hold it more than a year. You get paid. favorable capital gains rates. And in fact, depending on the rest of your income, you could actually sell something for a gain and pays zero and tax if your income is lower, but the maximum you pay not including state, okay? The maximum you're ever gonna pay. If you hold a stock over over 10 years, at least under the current law is 20%. Not including state. But on the ordinary side, you could be paying double that in, in taxes, because because they're all short term, and you don't get the Babybel treatment of capital gains. Okay? So that's another difference. The other differences is, we look at riskiness. The risk in trading is high due to the speed and the short term in nature, in other words that you trying to get in and out and you're trying to take little pieces to get get enough profits. And if you miss it, you may be out of luck, okay? Whereas where is the the long term investing, the risk is lower, because it's long term. So it may have some variability, the short term volatility, but it doesn't mean that I'm gonna jump out. Now. If things shift, then I may jump jump out, but it's a conscious choice. Here's the other thing to think about when it comes to your investing. One of the things that that I do with any investments, real estate, stocks, bonds, whatever it is, the question I asked myself, before I get in, is, how am I going to get out? What is the trigger? What is the reason what is going to get me out of this. And the reason we do this is, and you should be doing this, whether you're trading or investing is that if we know our exit, before we make the enter, we won't allow our emotions. To play games with us. If we get into an investment, it's going the wrong way. Well, now we justify where you're rationalizing. And we make excuses for not playing our game plan. So we always plan, the exit. And the entrance, we don't just go into something without knowing how we're going to get out of it. And so when we know that it makes it easier. So for instance, there's when it comes to trading, especially or even investing you can do it, there's something called stop losses, where what you basically can do is set a stop loss that says, If I buy a stock for $100, but it drops to $90. automatically get me out. So it's a safety cushion. It's a safety net, that protects you if the stock goes against you, and you happen to not be watching it, and everything. So you want to you want to understand those and have those in place when it makes sense. But there's ways to do that. The key though, is this. If you're going into an investment or going into a trade without knowing what the exit from the trade or the investment is, you're playing a game that's going to get you in trouble, because you're going to allow your emotions get in when your emotions get involved in your financial decisions, those financial decisions are typically not good. All right. So we define the exit before we before we get into it. Number five is what kind of securities can you do in trading the only securities you can do as stocks and options, quick entry quick exit stocks and options. Okay, whereas on the investing side, you have access to all kinds of things stocks, bonds, ETFs, mutual funds, nodes, trust deeds, all kinds of, of investing, things that you can do long term alternatives. But we can't trade those. We can invest in those. They're long term, then, what's the intention? The intention of a trader is to create ongoing profits from entry and exits, I'm just going to go in and out in and out in and out, make a little money, little money, stack it up to make a lot of money. Okay. Now you see where the job comes in. The intent with long term investing is capital appreciation, the stock price is going to go up, we're going to get dividends out or they're going to reinvest the dividends, but we're going to it we're going to create an increasing value in in our investments. So So the intent is for capital appreciation and growth and or dividends. Whereas the other one is transactional trading is transactional to get low profits from the entries and exits. What are the tools Okay? Tools meaning that how they look at things with trade errs, typically they do something called Tech technical analysis. In other words, what they're doing is, remember I said up here, that they're basing it on price movements, they're looking at the charts. They're looking at what the price is doing. They're looking at moving averages, they're looking at other statistics on the chart, they're basically playing the charts, the charts can be looked at as investors emotions graphed, all right, and depending on what's going on, they'll make the decision based on what the chart is telling him. That's called technical analysis. The tools that are primarily used for investing called fundamental analysis, that is, we're going to look at their balance sheets, we're going to look at their profit or loss, we're gonna look at their financial statements, we're going to see what's kind of in earnings per share. Our we're going to look at their ratios, we're going to see what their growth patterns are, we're going to read the footnotes, we're going to do all the the more fundamental look and say, we're going to understand this business and say, what's the outlook? Different tools? Now? Can they mix? Absolutely. But the primary tool for a trader is technical analysis, the primary tool for an investor is fundamental analysis. Then last thing is this, what's the strategy, the strategy for a trader is to buy low, sell high or sell short and Buy and buy low. Okay, so in other words, sell high and, and, and buy so. So they're basically transacting trying to just get in and get out the strategy for investors to buy and hold for company growth. These are the differences. Now, here's where the challenge comes in, is if we're not careful, if we're not careful, we we start to buy into individual stocks. Now, if you've been with me for any length of time, you know that I'm not a proponent at the very beginning of people buying into individual stocks. And the reason for it is I think it takes on too much risk. Let's just look at Facebook for a moment. Facebook, at one point was approaching $400 a share. They announced their earnings, they didn't hit their earnings, they said that their membership. And subscribers have tapered off there, we're looking at the possibility of pulling out of the EU because of privacy concerns. And their stock price in a moment, literally dropped 100 points 100 bucks, and it went in went out and then it kept going down. And it dropped, it dropped by 50% more than 50% of its value. Now if that was everything you owned, you're you're feeling a whole lot of pain when you lose half the value or more. Okay. And so one of the one of the risks to investing in a single company, is if something happens with that company, you could take a huge, huge loss. This is why investing in ETFs. And index funds become so important, especially when you first start out now do I have individual stock investments? Absolutely, I do. But it's not where I started. I started with index funds and ETFs. And the majority of my investing is in index funds and ETFs. And and let me explain what they are and why they're so important. So let's jump back to the iPad. Here's what's going to happen, let's say that you want to invest into a bunch of individual stocks, because that's an option. Okay? And those individual stocks, you know, could be here, I've got Exxon, I got Microsoft, I got Apple, I've got Boeing, Walmart, Disney, Coca Cola, Amazon Tesla. So there, there's effectively nine stocks here. And if I wanted to buy all of them, I could if I had the cash, the problem is, is I don't have the cash to do because a lot of these stocks are a couple $100 a share. So what am I going to do, if I have 1000 bucks, I'm gonna buy one share of each. It is doesn't really give me a lot of, you know, versatility and diversity and and what we do. Now, here's the other side of it is that, that not only will it cost me more to try and build a portfolio, but if I don't have that and say I just buy one, let's say I buy Disney, because that's all I had the money for, and Disney decides to tank. It's a problem. So individual stock investing at the beginning, requires more money and takes on more risk. The difference with using a fund or an ETF and index is this that, that when you do this, what happens is you're in besting in the in a bucket. And that bucket will then go out and buy a bunch of stocks. So they may buy the, the Exxon and the Mobil and the Disney and the apple and the Tesla and all that. And they have it in a bucket. And they buy 1000s of shares, because they have 1000s of veteran investors that are investing in the bucket. So when you buy an interest in an ETF or an index or mutual fund, you're actually buying a piece of all of those things. Now watch what happens. Let's go back to the Facebook example. If you only own Facebook, when it was close to 400, and tanked, you get hurt really badly. But if you owned a fund, an ETF or an index, that happened to have a piece of it being Facebook, if Facebook was only 3%, of what the fund owned, yes, Facebook would still drop the 50%. But the fund won't drop as much. In other words, the diversification that you got by having it, having it all in that bucket makes it safer for you. Okay, so it takes less money to get access to more stocks. And it's less risky because of the diversification. So think about it this way. Every morning, I, I make a shake. And one of the things that I do when I shake is I put a whole lemon in, in my shake every morning, okay. And so what happens is that, I will inevitably go get a bag of lemons, I mean, I literally go to Costco, your bag of lemons, and we put it in basket. And every morning, I take it take a eliminate it. And inevitably, if I don't get through the lemons quickly enough, one of them starts to get moldy and goes bad. Now, if I take that lemon, that's moldy, and I toss it out and they clean the other lemons, I can still use the other lemons and they're fine. That's what a fund allows us to do is that if one stock goes bad, the fund still has all the other stocks to prop it up into continue to to grow it for instance, you invest in a fund that is the s&p 500. Those are the 500 top stocks for the s&p. If one goes bad to go bad five go bad, you still got 495 others that are doing well. This is a reason that I think that we need to think it through and say how do we do the things that we want to do to try and reduce our risk and increase our probability of long term investing success, because remember, the objective is to sit back and say, I want to build a machine, a money machine, that's going to be able to continually throw off cash flow so I can can pay my bills or grow the machine bigger or both. So with that, what's the difference between an ETF and an index fund, and then I want to walk you through the steps to make the investment. So when we talk about what's the difference between an index fund and an ETF, it's this. Both are similar in the sense that they offer diversification. Both will offer low cost. And this is important. If we talk about a mutual fund. Typically mutual funds are actively managed mutual funds. And because they're actively managed, they need managers on board, they need analysts on board. And they're going to have much more expenses, which that's going to eat into your return. So you can get you can get at it by using an index fund or ETF, which are passive investments. They're not actively managed. They're just following if they're gonna invest in the s&p 500. They got the following stocks. That's it. That's it. There isn't a lot of choice and decision there for someone to manage. Is it part of the s&p 500? If it is great if it isn't, no sweat? So they both offer diversification they both offer low cost. They both typically offer long, long term, strong long term returns. If you look at the stock market over the long term, eight add 10 years it goes up. On average, the markets returning eight to 12%. Now are there down years certainly there. Okay. We had a down year just just in 2022 2022. We got hit 20% down. Okay. So is there volatility? Yes, we'll be ETFs and index funds get hit with it? Yes, because they're following the market. But long term, they will continue to grow. Okay. Here's where the differences. If I'm investing in an index fund, they trade like a mutual fund. So let's say I want to buy an index fund, the way they trade is that I say that I want to buy and say I'm gonna buy Put the buy in, in the morning. I don't get the purchase until after the market closes. So we, we put the buy or sell order and he doesn't matter which one it is. And it doesn't execute until after the market closes. So it we don't really know where we get in or out at until the market closes. An ETF is more like a stock. If I buy want to buy a stock, I put the order in, and in moments, it's executed, and I own it. If I want to sell it, I put the order in in moments it sold. An ETF is like a stock. So if I want to know specifically, what I'm buying, and at what price I'm buying it at, I use an ETF because it will execute during the day just like a stock that doesn't wait till the end of the day. The other difference is that some of these index funds and ETFs have minimums. But generally the ETFs have lower minimums, some of the index funds might require a minimum investment of $5,000 $1,000. Depends on what they are. So ETFs have lower minimums, that gives you a little easier access. And generally speaking, ETFs are more tax efficient. In other words, they're not going to trigger a tax, because they're not doing a lot of transactions in the process. And you know, you don't get a tax. So, but they're very, very similar. Like I said, built low cost, you get the diversification, and you have the opportunity to to have a basket of stocks in a portfolio that's diverse. But this is where I tell people, when you're first starting out, I want you to start out with index funds and ETFs or make it as easy as possible. I want you to look at after trying to figure out which individual stock is the right stock, how many stocks you're going to own, which one how many shares of each stock, there's too much friction there. And there's too much risk there if you aren't trained in stock picking. And that's not an easy thing to do. So I will tell people, especially starting out, start with index funds, start with ETFs start with with a basket of stocks and what that looks like. So how do you do this? And what does this look like? So let me take you through eight steps. And the first step is this. You're going to need to open an account, you're going to need to open a brokerage account, it's going to be at Fidelity, it's going to be at TD Ameritrade is going to be at Schwab, it's going to be at Vanguard, some discount broker that doesn't charge a whole boatload of fees. Okay. They're all pretty similar. You might look at and see what's their customer service, like what's their, their app like and that type of thing. I'm not a fan of things like I'm going to be straight, I'm not a fan of, of things like Robinhood, anything that gamifies Investing is, what they're doing is they're stirring up emotions investing when your emotions go up, your your financial intellect goes down and you make bad decisions. So I don't I don't subscribe to any of those types of apps. They're a game of fIying you doing transactions to what they're promoting you to do is to turn your account and do transactions over and over again. They're stirring emotions, I want you to make the sound logical, analyzed financial choices for the long term. Okay, so open up a brokerage account, step number one, step number two, know your objective. What are you trying to accomplish? What are we what are we doing is this short term is this long term? If it's if it's short term money, I wouldn't put it in the market short term meaning five years or less. If you need the money in five years, and you need it to be at a certain level, uh, put it in a high yield cash account, at least you know that it's insured, and you know that you're getting a set return. Could you could you make more in the market? Yes, if it went if it went way up. But what happens if the market decides to decline? What happens if we we hit a recession? What happens if the Fed speaks in the think tanks? And right when you need the money, it's not there anymore. So know your objective going in? Okay. Number three, decide on the mix. Decide on the mix. What, what do you need, because when we talk about the mix, you could buy domestic stocks, I can buy just the s&p 500. I can buy tech stock fund. I could buy international funds. I could buy a sector I can buy a real estate sector or banking sector. You got to decide on the mix and the way you decide on the mix and we're not talking about here is your risk profile. and your capacity to expect to accept risk. The reality is is that that every one is different. The reality is that we should be investing based upon our circumstances. That's why when I hear commentators say, just invest a percent the same percentage no matter what your age or stage of life is a no, no, no, we don't do that. Because it matters about your age, your stage of life, it matters where your what how much in assets you have, it matters. To understand that risk, it's not the same for everyone. And so, it's important for you to decide what kind of mix you want before you start to pick the funds that you're trying to buy. So you can pick the funds that you want to buy. And it can be any like if you're going to do a, a, s&p 500, or total stock market fund, you could go to Vanguards VTS, AX, let me be clear, I'm not recommending it. I'm not not recommending I'm just saying it is a way to invest in the total stock market as total stock market funds. Schwab has a similar one, SW TSX is the ticker symbol I shares is an AI WV Wilshire 5000 is a WFi VX, you have all kinds of different ways to get access to a bucket of stocks. But you got to decide which ones you want to go through, and why you want that mix. So now you decide the mix. You pick the index funds, and the number five, you buy the shares, you literally go into that you buy, you got to put money in the account. So you got to have cash in that brokerage account when you open it, and then you buy the shares, you say I'm gonna buy, you know, 40 units, or 40 shares of BTSA X, and I'm going to buy 30 of this and 20 of that, you buy the shares. Number six, it keep by we do dollar cost averaging, where were we are buying no matter what the markets doing, we are buying on a monthly basis on a regular basis, the market dips tremendously. We we double in on our buying. So the point is that I want you to stay in the game of buying because when that market ramps up, remember eight to 10 years it goes up, if it's going up in 10 years, I want to be there when this puppy decides to fly. All right. And when it does, that's when you when you start to really build the wealth and make the money back. So it's important for you to to look at that then number seven, track your progress over the long term. track the progress in other words, you don't set it and forget it. Remember, my perspective is that there is no such thing as passive income. Okay, your your relationship with your income with your money and your wealth is just that it is a relationship. And if we take a passive approach to the relationship, just like any other relationship, it will wither and die. I've been married to my beautiful bride for 12 years this year. But if I took a passive approach to our relationship, we'd have never made a bike past 12 chase down with her. All right. And same thing with your money. So I want you to track it, I want you to check the pulse, I want you to make sure that it's doing what you want it to do, and see if there's any adjustments to do. And then the last, the last piece of this is always always keep a long term view. Remember, this is the long game we're playing. This isn't trading, it's certainly not gambling, it is wealth creation. And what we're trying to do is build this long term machine that will grow over time so we can generate the cash flow to live off of down the road. This is what gave me the flexibility to shut down my businesses when I got diagnosed with cancer, to take the cash out of the cash flow coming from the investments to allow us to live without selling things without eroding things without decline. In fact, our net worth went up in the middle of that maybe you didn't go up as fast as it would have if I kept on working, but it still went up. In other words, the machine was large enough that it was generating enough income for me and my wife, and are live to continue in the way it was while I was focusing on my healing and still grow the machine bigger. And then when I came back to it after the cancer, we put the money back into the machine and let it keep growing. But we didn't sell things. We didn't decline. We didn't lose things. We didn't do any of that. Now that takes time. That takes discipline, and that takes a process. But that's why we're here. That's why we do what we do with the affluence blueprint and the wealth priority ladder and some of the things that we teach, and we talked about. So, I hope this gave you a little more Perspective Perspective of ETFs. And index funds, what they are, how to look at them, what you need to do get invested in, when you're first starting out, this is the game I want you to play. And really start getting in the game getting used to looking at these things, getting used to understanding that's and, and be part of it, because until you get on the field of wealth creation, okay? Well, creation is not a spectator sport, you got to be on the field, you got to be running. You got to be working, and you got to be working it, I got news for you. The reality is this. When you have the proper process, you simply need to work the process for the process to work, but too often we don't want the process. So I hope this helps. I hope this gives you a perspective. And I'm going to do another episode and another show episode specifically on a on a specific type of index fund called the target index, fund, target date Index Fund, which we'll talk to Lehman's simplified even more. So watch for that coming out. And we'll make sure that that you you know about it. So in the meantime, if you have questions, if you have thoughts, or you have something you need help with reach out, I'd love to hear from you. Okay, you can go to ask Mel now.com You can leave me a note, you can leave me a message. You can leave me a voicemail. You could leave me those. I'll answer your questions on the show because we do q&a shows and in fraud. In some cases I might reach out to and say would you be willing to come on the show and let's have a conversation. Let me coach you, let me help you. And do that because that's what what this is all about. I want you to feel safe and have a place where you can come and have a conversation without the bias of someone trying to sell you an investment sell you insurance policy or, or anything like that. But simply because I want you to live into your birthright, which to me is financial freedom. All right. I hope you got something out of this, and I look forward to seeing you on the road until we get a chance to see each other. Talk to each other or on another episode. Always, always strive to live a life that outlives you. Cheers. Thank you for listening to the affluent entrepreneur show with me your host Mel Abraham. If you want to achieve financial liberation to create an affluent lifestyle, join me in the affluent entrepreneur Facebook group now by going to melabrahm.com/group and I'll see you there.