Friday Live with Lynn Kitchen "Let's Talk Money" Season 2 Episode #104

Watch now and enjoy this episode of Lynn’s live weekly podcast “Let’s Talk Money” learn, laugh, ask questions, find out about financial clinics, and more

In this Episode, Lynn Highlights What the Best Income Generating Investments are.

Details: https://lynnekitchen.com/friday-live-with-lynn-kitchen-lets-talk-money-season-2-episode-104/

She covers so much, you really want to watch or listen to this episode.

Whether you are planning on building a retirement income or simply looking to supplement your income, you may want to consider investing in one of the following income-generating investments. These investments are proven to generate significant returns.

Dividend stocks

Investing in dividend stocks can be a good way to add extra income to your investment portfolio. They offer a great way to supplement income during recessions or during times of high inflation. It is important to consider companies with a track record of regular dividend hikes. 

The best dividend stocks are ones that have been increasing their dividends for decades.

Bonds

Historically, bonds have been a great way to earn income. They offer a reliable, steady income, and they can be a good hedge against volatility in the stock market.

Bonds can also have a risk of default. However, if you invest in high-quality bonds, the risk of default is lessened.

 Bonds are also an effective way to diversify your portfolio. They allow you to buy and sell bonds on a daily basis, and you can invest in additional bonds at any time. 

REITs

REITs are a great option if you’re interested in investing in real estate for passive income or want to diversify your portfolio. These types of investments are tax-advantaged and have above-average dividend yields. They are also relatively inexpensive to buy, making them a good choice for income investors.

Annuities

Despite all the buzz, annuities are not necessarily the best investment for every investor. Several factors will influence your decision. Your age, risk tolerance and personal investment goals will play a role.

 Annuities can provide an attractive addition to a balanced investment portfolio. They provide a guaranteed lifetime income, tax deferral and a death benefit. But there are trade-offs, as well.

link to the blog: https://lynnekitchen.com/10-best-investments/

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Transcript

Unknown: 0:13

Hi everybody, I've got my favorite song ready to rock and roll here this is Let's talk money. We are here every Friday afternoon at 3pm, Eastern 12. Noon, Pacific Time. And all points in between. And I want to welcome you to today is a special Friday TGIF. Friday. Let's talk about some money. How have you been? How have you all been this week? Have you had a good week? How are you? How are you? Did you have a good week? Did you make a lot of money? Did you create some value? How were your sales this week? How were your profits this week? How was your income this week? How were your capital gains this week? How were your bond yields doing this week? How was your money? How are you? And how is your money? So let's talk some money. I'm so excited to be with you a little bit today to just talk about money. This is a place where you can bring all of your money questions, all of the questions that you've been dying to ask, not dying, living living to ask. And you're in the right place. Because my background has been 34 years in the investment advisory business was my first career. And I am so excited to come full circle to now bring to you an opportunity to ask me questions because I'm here to support women. I'm here to now empower women all over the world to create more wealth in their lives. How many people would be in favor of more wealth? Yes, yes. Yes. Put $1 sign in the chat. Please, if that would be you and welcome to Let's talk money. Let's talk money is here every Friday at 3pm. Eastern. And also if you are here on the replay, I want to welcome you especially put a big R for me so that I know that you're tuning in on the replay. And I am just really excited. Because today is almost Valentine's almost Valentine's we are moving into halfway through the month of February 2023. We've had an amazing first part of this year, it's gone so fast. I don't know about you, but don't you think it's gone so fast. And even February has taken off so quickly. It's always like you're just a blink. Well, this week, we've had a lot of progress in the stock market. You know, we have really comeback in the stock market from the beginning January 1 Till now, the stock market has risen something like 15% Since January 1. So that certainly is a boon. Almost like the old Santa Claus Rally that we thought we were going to have near December of 2022. We're having it now. We're having it now. And so those of you who were invested in a lot of the leading stocks this time last year, which went through a big decline are now starting to probably cheer yay, yay, yay, because your your portfolios are looking better. You're we're making some progress. And probably in general, we are feeling better. And all of the indicators say so all of the investment indicators that I watch say that people are in a better mood, because the you know, rising boats and the rising tide of economic wealth in the country, because a 15% Gain on this is in the Dow Jones Industrial Average and Standard and Poor's 500 means that things are working out pretty well. Even though we've had some counter influences this week. How many of you are watching the news that the Federal Reserve just raised interest rates another bump up as well as many of the the companies tech companies that we are familiar with? are laying off quite a bit of a few people. And that's unfortunate. However, I do know that That looks like it's, you know, mostly in the tech sector. Hopefully it won't spill over to some of the other sectors. But you know, that's also disconcerting, especially if it if it influences your household. And we hope that it doesn't. We hope that you were all fully employed. And that was one of the interesting things of the last employment report, just one week ago today was that the unemployment is at an all time low. In other words, America is back to work. After the pandemic, we are back to work, we may not be in the offices, going to offices, but Americans are back to work, we are earning income. And this is a good thing. So I just want to shout out the Hi. Hi. And I'm glad you're here. Thanks for joining us. And where are you calling in from happy to see you and anyone else who's watching, I invite you to put your name in the chat. Let me know you're here. Let me say hello to you. Let me ask you where you're calling in from that would be fun. And this is an opportunity just to ask questions, since I am here to empower women, to increase the knowledge base that you have, so that you can make better financial decisions in for the rest of your life. Starting today, starting today. Well, let's see. Any any questions for me? Because if you don't have any questions, I've got some good topics that I that I'm going to just jump into. But let me just give you a another invitation. If you have any questions for me today, this is your day. This is your time, let's talk money. And we can or just a topic that you would like to talk about, I'm here for it. I'm here for it, just put it in the chat. Now some of you might be viewing this and unable to put it in the chat. But those of you who have the chat in both Facebook and LinkedIn, I invite you to do so. So today, I'll be watching. I'll be watching. So say hello to me put some questions in the chat or a topic that you would like. And if you don't have a topic today, I invite you to just DM me at any time direct message me. And let me know that you have a topic that you want me to talk about. And I'll make that the topic of discussion. So Lisa is here with us. Hi, Lisa, I'm so happy that you're here because I know that you are coming in a long distance and probably staying up late because thank you for your text, you told me that you would be here. Lisa is here from the island of Crete, the island of Crete in the Mediterranean? And Lisa says, Well, I don't have any questions, but I'm super tired, you must be in the middle of the night. So you will gladly relax. And let's listen. Oh, thank you so much, Lisa, I want to acknowledge Lisa for tuning in all the way from Crete, in the middle of the night in the middle of the Mediterranean. And we so we acknowledge you, you know, people are around the world are very interested in what it's going to take to get wealthy and what it's going to take to stay wealthy. And really that was my entire profession was to advise people on how to create wealth in their life. So for 34 years, really, I have had the background of being in professional investment advisor. I was one of the first women to start my own investment firm, a broker dealership in on the west coast of flow of California. Back in the early days, when actually women weren't really allowed to be a stockbroker during the 1970s and certainly not an investment advisor. So I was one of the early group of women who were, you know, moving forward, and we were, you know, we really made I think, a major impact. Now, when you look at our industry, it's mostly it is mostly women. I have to say, I'm so proud of women who have moved into the spotlight. Yes, there are still many, many men in the management positions. But women are taking those positions now and we're doing amazing LEE Well, so 34 years in the investment business, managing money and portfolio for for professional people for doctors, lawyers, couples, high wealth, individuals as well as corporations, nonprofits give me that gate gave me quite a bit of background on as well as managing the investment advisor, companies, as a president and CEO of those investment advisory companies, I helped build those companies up, sold two of them. And now after about 10 years of retirement and doing other things in my life, I'm back, I'm here for you now, I'm here for you. I'm here to offer you my knowledge and expertise. Because I think that I probably have gained more knowledge than, you know, most women, unfortunately, have just don't have a chance to learn very much about financial education. Where would you go for for financial education, we know that there's an awful lot of places that you can go online, far more than there used to be? My goodness. So I started before they were even computers. And I was teaching investment courses to adults for over 15 years at the Pacific School of Finance, before there were computers. But now that there's computers, oh, my gosh, there's so many places that you can go online to find wonderful financial education information. And I also know that it's not that easy, is it? How many of you here have tried to go online, maybe on a brokerage platform or on the NASDAQ platform? Or even I think the Standard and Poor's 500 has an educational platform? How many of you have tried to go on online and get answers to questions like, What is the P E? What is the P E ratio? Or how can I find the best bond to invest in or or or so many questions that I think women have that it's difficult to find answers to unless, you know, Lisa says I've tried and got completely confused. Right? It's a confusing world out there. And not only that, the answers, I find that the answers on many of those sites are not really thorough. They don't give a full understanding, they might give a few sentences of what a definition of a PE ratio is, or price earnings ratio, but they don't really explain what it means and how you're supposed to utilize that it's a tool. It's a tool that we have so many financial tools that are helpful to any investor, or anybody who's saving money, so that they can eventually invest it. Right? But how do we learn about these things? There are very, very few places that we can actually go to not only learn, but ask questions, because as we know, the computer doesn't answer back. It doesn't. It's, it's like, okay, I want an answer to this question. It'll give me a one dimensional answer. But then how do I ask more in depth questions from there? Well, that's why you're in the right place, because I am beginning a financial clinic for women, just for this purpose, to help empower women to come ask questions, to learn about financial education, to learn about how to save your money, to learn about how to invest your money, to learn how to grow your money, to learn how to how to how to how to make investment decisions, that is really going to serve you. And once you learn this, you can begin to apply it to your own life, no matter what age you are, no matter what age and the good thing about learning about financial education, savings, investing, and creating wealth is that you will learn know it for a lifetime. In other words, it doesn't go away. But where is it that we get a chance to learn these things? Good grief, we don't have it in schools are very, very few schools have financial education courses now. And even those of us who are out of school by many years, we never picked it up. We never really learned it. Most of our parents didn't really teach that to us or hand down to us, especially women. I think some of the skill sets that that perhaps our parents used to create their wealth. Well, wealth is an art multi generational asset, you know, many of your parents may have done quite well and given you an inheritance, or are about ready to because this year begins a new decade or two of the largest amount of inheritance in inheritance, capital that will be handed down from one generation to the next. The statistics are enormous. So those of you who are in line to receive some inheritance, this is a great time to learn about how to manage your money so that when you receive that inheritance, you will know what to do with it. So how do you learn how to manage money? How many of you have ever really had a place that you could go to learn how to manage money? Anybody here? Have you really had a place that you could go to learn this basic skills of money management? Anybody? If you have Boy, that's, that's like, not me. Lisa says, Alyssa is here. Hi, Alyssa. So happy to have you here. Alyssa. Tell tell us where you're from Alyssa, I believe you're calling in from Denver, Colorado. Am I right? Am I right, Elissa? Okay? Yep. So it's really been difficult to find, I think for women, places that you have confident. Alyssa says, nope, I've never really had a place to go and learn only books. Okay. And how many books? Are you interested? Have you read about money management? Let me ask you that question. How many books have you read about money management? Certainly, there is a huge amount of books out there that are available. You can get books on Amazon that have been written by the greatest of the greats like Warren Buffett, and so many other great investors that we've had over the generations, and you can learn from them. But how do you actually apply that to your own life is what is really important. And that's why I think that Let's talk money fills a void. And for women, we need to talk about the money that we want to earn, we need to talk about how can we learn better money management skills, we want to talk about what are the money issues that are bothering us. Statistics show that most divorces happen because of money issues. And so in a marriage, you know that a woman is only 50% of the deal 50% of the relationship. And so, you know, the husband is the other 50% the communication is key between people on money issues, managing money inside a marriage is a two way street. And it is something that it takes a lot of skill, not only communication skill, but some knowledge. And unfortunately, I think over the decades and decades and decades, women have been relegated to that place called ignorance that, you know, no, the man is in charge. I was just talking with a friend of mine the other day, who's probably my age in, you know, just turning 70. And she said most of her friends still rely upon their husbands to do 100% of the investment decisions in their household. And I thought that's interesting. Now, if you're in your 60s, is that the case? Now, if any of you are in your 50s and married, I guess I'm talking to the married ladies right now. Is that the case? If you're in your 40s right now, is that the case and married? Okay. I have learned that some of the younger generations have shifted their mindset. And now it's much more of a interesting conglomeration of two people making decisions. But I still think it's rather rare that women inside a marriage actually are the decision makers when it comes to money and investments and all kinds of decision making as it relates to budgets and so forth. I think women have had great skills in budgeting household budgets. Yes, we have, but have we really moved into that realm of learning? How to take our hard earned money. And you work hard for your money, right? How to take your hard earned money and really make that money work for you? How to take that hard earned money and really make that money work for you? At what age do you begin to learn that? Is it in your 20s? When do you learn it? In your 30s? When do you learn it? In your 40s? When do you learn it? In your 50s? When do you learn it? 60s 70s 80s When have you learned it? 20s 30s 40s. Okay, let me put it another way. When do you want to learn it? Now, right? How many of you in your 20s Want to learn how to not only earn but make your money work better for you? How many people in your 30s Want to learn not only how to earn more, but to make your hard earned money work for you? How many of you in your 40s in your 50s, in your 60s, in your 70s in your 80s not only want to learn how to earn more, but want to make your hard earned money work better for you. I'm talking about working better for you. When you invest in, save it and invest it and really help understand what it is that creates wealth over time. Wouldn't you love to know that? Now you're saying I agree with you, Alyssa. Lisa says now now's the time, now's the time put now in the chat I agree with you put now in the chat now is the time, it doesn't matter what age you are. It doesn't matter. And you have more time than you think you do. Now is the time to learn how to earn more and how to make your money or earn more for you all your hard earned money. And you have more time than you think. So today, I just kind of wanted to cover a couple of topics. Alyssa, I want my money to work for me. Absolutely. Now's the time. So how do we make money, our money work for us? I think that to answer that question. We want to have a great deal of respect for ourselves on how really hard we do work for our money. I mean, we this, this is love this song work hard for your money. We want to respect ourselves as women and really value ourselves more greatly, that we do work hard for the money that we earn. I don't care what profession that you are in. I was this this Wednesday, getting my hair fixed. And this beautiful young woman at a bit about age 35 had her own a salon, you know, that's quite an accomplishment. At the age of 35. She had her own hair salon. I had a conversation with her and I said what are you doing with your hard earned money to invest it for yourself? And she looked at me like I was talking a foreign language. She said what what do you mean investing for myself? I said, Well, what are you doing with the money that you earn from this agency from this salon? How are you helping your money work for you? When you pay yourself? And these she kind of looked at me with a an unfortunate glance saying, Well, I don't really know how I'm making helping my money work for me. I never really thought of it. And I said Well, it's time for you to learn. would you love to learn? And she said yes, yes. So I told her about the financial clinic and she said sign me up sign me up so I you know, I actually shared with her, my my website in as a matter of fact, I might as well share that with you all here right now. I'm just going to put it right below my name, Lynn e kitchen.com. You can go there and learn all about the new financial clinic that I have for women. It's it's just fantastic. We have different levels beginners, intermediate, and advanced. It's a place where you can come to learn all of the basic financial principles to to decision making learning how to pay yourself first. So I was talking with her. And I was saying well, you know one of the first things you do with your hard earned money is you pay yourself well first. She said Yeah, but I have all these expenses all these expenses, all these expenses. I said I know. But you have a, you need a discipline to make sure that some of your hard earned money pays you first. And then the first thing you do with those with those monies, is you invest in your retirement account. I said, Do you have an IRA account? She said, what is that? Well, it's an individual retirement account. So it really opened my eyes to the fact that, you know, where do women learn about how to take care of themselves. It's really not taught. Maybe you sit with your accountant or your CPA at the end of the year, and maybe you get some good advice. And usually, that's where it stops. But if you can learn, what do I do with my money inside of my retirement account, that would be great, wouldn't it? So inside of a retirement account, or if it's just in your savings, when you're starting to save, what I am suggesting is that you learn more about income, how to create additional income for yourself. So I did put a wrote a blog. And you can go again to my website, and there's a blog that I wrote on the 10 best ways to invest in income producing investments. And I invite you to go there and take, you know, take a moment to just read that. And it includes there's several different categories of investments on what what investments that you can make, when you're just starting out as a 20 year old, 30 year old, 40 year old, doesn't matter really what age but especially young, younger, you're going to want to invest in growth companies as much as possible. Why? Because you're young, you have all the time in front of you to allow your money to grow for you, to grow for you. So you want growth investments. And you also want some income. As you're beginning to create some savings you want, first of all, to have those savings safe for you. Having, you know, a portion of that savings should be there in case there's an emergency, right. But you can take a portion of that savings and invested in income producing bonds, or what I'm going to share with you is probably the safest AAA government guaranteed bonds that are available to you called I bonds. These are savings bonds that are issued by the United States government. I think we talked about it a little bit last week, that this is the very best vehicle, even if you're if you're investing $25 a month for yourself. So I was suggesting to this salon owner, do you think that you can put aside $50 a month for yourself? And she looked at me she said sure I can do that $50 a month, that's like a couple of, you know, dinners out, I can put aside $50 a month for myself. And I said, Okay, I want you to go to Treasury direct.com online. And I want you to look at what's called an AI savings bond at the letter i because it's paying 6.87% Right now, and you can buy it in like it $50 A purchase a transaction, just $50 a month. And of course you can buy $10,000 at a time as well. But I'm just talking about how you can begin if you're younger, and you want to begin putting your hard earned money to work for you. Begin by doing something every month and putting it into a safe place where you're getting the maximum amount of income. And right now, because interest rates have gone up a little bit because we're in an inflationary economy, you can get 6.87% on a triple A, which means the lowest risk, you're taking the lowest risk. It's actually even safer than a bank. You could put money in CDs, that's called certificate of deposits inside your bank. But those are actually not as safe as a government issued savings bond, which is triple A. There are no banks that have triple A ratings. And to get 6.8% You're not going to find a bank that will issue you a certificate of certificate of deposit for that amount either. So the government is really incentivizing all of us. Now the only caveat there is that you need to make sure that you can keep that money invested in that bond for at least one year, that is a caveat. Okay, you must hear me. And just just so you know, I'm not here to recommend any investments. But I am here to educate you on what you can do to help your money grow for you, so that you can have your money work for you. And that's the place to begin. Most people don't realize that there are savings spots that you can begin $50 And then maybe you can escalate to $100. After that, go for $300 a month, then go to $500 a month, this is the way you build for yourself a nice nest egg. And then once you get a pretty good investing nest egg, you can begin to take larger risks with that, that's when you can move into the different categories of income generating investments that will ensue, that will generate income for you, that you don't have to work for, you just have to invest for it. You don't have to work for it, you don't you just have to invest for it. Now there's a little bit of work in learning how to invest for it. And that's where I come in. I'm here to empower you to learn more about how you can invest in yourself so that you can earn a wealth creation portfolio, and read not only retire well. But over the years, you can have a great life. And you might even have enough to hand over to the next generation of yours. That's called generational wealth creation. And that is beginning with the basics. I don't care where are you on are in the lifecycle of your life? Wouldn't it be great to become better at managing your money so that you can take your hard earned money, invest it wisely and create long term wealth? How many people are up for that? Put it put a why or a yes. Or an I'm up for that in the chat if you're up for that. Any questions that you have for me right now? Any questions? Yay. Lisa says yay. Yes, Alyssa says, I'm going to be 64 this year Happy Birthday, Alyssa. You know, 64 is a gorgeous age. This is your right at the sweet spot of retirement. And of course, the average person retires in the United States somewhere between 60 to I think in 65 is the average now is 6566. Many of us are actually working longer. You can I am right now. And I'm enjoying it, I'm enjoying it. And these these times where we have more wisdom. These are the times where our earning years can be just as high as ever. Our earning years can be just as high but our wisdom years are coming into their peak. This is the time where you can learn how to invest for yourself. So that the next 30 years of your life, yes, you heard me right 30 years of your life could be the very best yet. Why? Because we're living longer ladies, right? We're living longer. We've got to learn how to make sure that we can get our money's working for us so that as we live longer lives, we can have the benefits. How many of you have dreams in your heart, that are going to require some investing? How many of you have impact that you want to make in this world? And that you would love to have some money behind you so that you can craft and create the impact that you want to have in on this world? Yeah, I do. I do. But the interesting thing is, where do we go to learn these ideas? Where do we go to learn how how to create income? Well, as I mentioned, we can go safety first finding the triple A government savings bonds, but then you can learn how to create what I call a bond ladder very easy. A bond ladder is a group of bonds that will will produce income for you over time, like a ladder. You have a lot of money coming due at certain periods of time. Because bonds are a vehicle where you are actually loaning your money to an organization like a bank or a corporation or even the government you're loaning your money to them for or the return that you get is an interest payment, an interest payment. So that interest payment comes you, you invest in the bond market in certain different bonds that come due at certain maturity dates. So you could have a one year bond, could even have a three month bond, six month bond, nine month bond, 12 month bond, you can have a one year bond, a two year bond, a five year bond, 10, year bond 30 year bond, these kinds of bonds, you can craft a bond ladder for your investments. So that each one as you move out in time you actually receive higher income, because you're taking a higher risk with that money, you're loaning your money to somebody for a longer period of time. So you obviously, earn more interest back because you're giving your money to that organization to use as as they see fit, and they are promising a bond, a bond is really a promise, I will loan you some money, you pay me back in a certain period of time with interest. So right now, the interest for the triple A eye bonds that you're going to be loaning to the government, and I just mentioned is 6.8%. That's triple A, because the United States government you can trust more than anybody else to pay you back. Why? Because we, we know that they are relying on the full credit of the United States, taxing authorities, they they have plenty and then the government has plenty of money, they're going to pay you back your principal amount, with no risk 100% guaranteed that you'll get paid back. That's not so true with banks, it's not so true with corporations, although there is they do pay back, but you have certain risk parameters. So in the financial clinic, I've moved into helping you understand what is a bond ladder, what are bonds? How can I earn income as when I invest in stocks? Can are there stocks that have interest income that come back to me? Yes, that interest income is called a dividend. So you can receive dividends coming back to you when you invest in a corporation in in, in the stock market. And then there are different levels of those investments. There are, as you know, on the stock market, all of these different companies that you can invest in, some of which pay very high dividends back to you. There are certain industry groups that are known to pay higher dividends than other companies, those industry groups, just to let you know, a few would be utility companies. Another one would be energy companies like Exxon Mobil, Chevron, those kinds of energy companies, they pay large dividend income back to the investor. Why is that great is that while you're investing in a company, as they're growing, they're paying you a percentage of their earnings back into your pocket, almost as an incentive to keep you invested. So you're receiving income as you're waiting for your investment to grow over time. That's called dividend investing stocks. And then there's a third category called preferred. A preferred stock is actually a hybrid between a bond and a stock or equity investment. A bond being that you're you're loaning money, and you're receiving back interest for your loan. An investment in an equity is that you are actually investing in a company like this in the stock market, you're investing into that company, and they're, they're paying you a dividend income as an incentive. And almost as a thank you to keep you invested. But then there's a hybrid area right in between, it's called a preferred stock. And that's kind of interesting, because you can receive in interest income from a preferred company, just like a bond. And it actually has a due date, just like a bond it comes it matures so that you get your money back after a certain due date. But it also trades on the stock market, just like a stock. And over time, it gives you an incentive to purchase some of the stock at a discounted value is kind of a wonderful and exciting. Hybrid. And it's a specialty area. Well there's so many other different parts of the economy that it actually pays you income back. One of the investment, interest industries that are highly known for their high interest rate returns for income is called our EITS. Real Estate Investment Trust, that is a special slice of the American economy. That is really all about the, in the commercial real estate. And also, the residential real estate is all about the companies that gather money, and invest in real estate. Those companies that invest in real estate, you can invest in their company, and they will pay you high interest rates right now, I think they're probably paying out about six, six to six and a half percent. And then there are many, many other ways that you can learn to earn income for your investment portfolios, I can talk on and on for hours, give me a topic of any one of those. And I can talk for hours on any one of those topics. And I'm just giving you a little slice of how I teach so that you can get a flavor of what it would be like to come work with me because in the financial clinic for women, we're going to take each one of these one at a time, and really teach you what is a bond, what is a stock? What is a preferred? How do I invest over time? How do I create a bond ladder? How do I have my monies, my savings, be able to work for me? When I'm only 30 years old? What can I do to get started, when I'm only 40 years old, and I have my own salon? What should I do to really maximize my retirement account? What can I do now, that will help me take my hard earned money and make it work for me. And that's what Let's talk money and money talks for women is all about the financial clinic for women is all about. So I want to invite you to a special occasion that's coming up next week. It is or I'm sorry, it's the week after next February 20. Through the 25th. I am having a free workshop. It's called five days to financial freedom. A free workshop is one hour a day for five days, we'll be sending you an email, if you go to my website and make sure that you're signed up to the newsletter, we will send you emails, we'll announce it right here, come back here. And it's free. It's one hour a day for five days, it's five days to financial freedom. I'm going to be doing five days of teaching, you're going to really learn a lot. Most people say they've learned more than in five days than they have have learned in classes or in decades or I mean, where do you learn how, how to learn about investments and how to manage your money. I'm inviting you back at all times. Let's just check the chat. We'll see such valuable information. Thank you. And I'm glad you're enjoying it. Did everybody get? Oh, here's a question. Alyssa says how much do you need to start an IRA? That's a great question. I think that you don't need much most brokerage accounts that you that you can open an IRA account in most brokerage accounts. They may have a minimum or they may not. You know, we used to have minimums in in our brokerage accounts, like $500. But guess what, there are online companies now. I'm thinking of some Robin Hood, for example, Robin Hood is an online trading company that I don't think that you know, I think you can have just about any amount that you want even$50 Let let me get back to you on that. But what I do know is that you can start with very small amounts. An IRA account is just the name of a type of brokerage account, that you open up you all the paperwork, you open up a retirement account in a brokerage and it can be online brokerage account, and you can begin to deposit your money strategically monthly, weekly, even daily. And there used to be minimums. I really don't think there are minimums anymore except the cost of actually opening the paperwork at some point. Some I think banks by the way, banks, you can open an account for have an IRA account and their minimum deposit. I would be surprised if it's over$50. So, the point being for very little, you can begin with an IRA account. I'd like you to begin today, if you have more questions, DM me, and I'll get you the specific answers for your case. How does that sound Alyssa, DM me and I'll be sure to to help you out with that if you're interested. All right, great. Thanks. She'll check it out. All right, everyone. Well, it's been a pleasure here today. I'm just wanting to thank you for being here. Tell your friends about it. You're in invite you back every Friday. This is like a TGIF or we just take the afternoon on Friday. We think about how we have accomplished this week. And what we want to do next week and how we want to create wealth in our life one week at a time. And I just want to thank you for being here with me at Let's talk money for women. And I'll see you next time. Same time, same station. Invite your girlfriend's and let's have some fun. Thanks, everyone. Bye for now.