{"version":"1.0.0","segments":[{"speaker":"Unknown","startTime":7.8,"endTime":12.0,"body":"Music, welcome to the"},{"speaker":"Unknown","startTime":7.8,"endTime":12.0,"body":"real advisor podcast, T, R, A,"},{"speaker":"Unknown","startTime":12.0,"endTime":15.78,"body":"P, trap. Please follow us and"},{"speaker":"Unknown","startTime":12.0,"endTime":15.78,"body":"join in the conversation on"},{"speaker":"Unknown","startTime":15.78,"endTime":19.98,"body":"Twitter at advisor podcast,"},{"speaker":"Unknown","startTime":15.78,"endTime":19.98,"body":"where you can suggest ideas and"},{"speaker":"Unknown","startTime":19.98,"endTime":23.54,"body":"themes you'd like the trap team"},{"speaker":"Unknown","startTime":19.98,"endTime":23.54,"body":"to discuss. Also remember to"},{"speaker":"Unknown","startTime":23.54,"endTime":26.78,"body":"like and subscribe to our"},{"speaker":"Unknown","startTime":23.54,"endTime":26.78,"body":"YouTube channel and leave a six"},{"speaker":"Unknown","startTime":26.78,"endTime":30.32,"body":"out of five star review on"},{"speaker":"Unknown","startTime":26.78,"endTime":30.32,"body":"iTunes. Doing all this really,"},{"speaker":"Unknown","startTime":30.32,"endTime":33.98,"body":"really helps us, which means we"},{"speaker":"Unknown","startTime":30.32,"endTime":33.98,"body":"can do more to help you. Now,"},{"speaker":"Unknown","startTime":33.98,"endTime":37.22,"body":"let's head over to the studio"},{"speaker":"Unknown","startTime":33.98,"endTime":37.22,"body":"for the latest pile of trap"},{"speaker":"Unknown","startTime":37.22,"endTime":42.46,"body":"swing. Low. Sweet"},{"speaker":"Nick Lincoln","startTime":43.72,"endTime":46.18,"body":"yes indeed, dear"},{"speaker":"Nick Lincoln","startTime":43.72,"endTime":46.18,"body":"trap is welcome back to what"},{"speaker":"Nick Lincoln","startTime":46.18,"endTime":50.56,"body":"many people are calling episode"},{"speaker":"Nick Lincoln","startTime":46.18,"endTime":50.56,"body":"64 of the award winning real"},{"speaker":"Nick Lincoln","startTime":50.56,"endTime":54.94,"body":"advisor podcast, T, R, A, P,"},{"speaker":"Nick Lincoln","startTime":50.56,"endTime":54.94,"body":"Trapp. My name is apparently"},{"speaker":"Nick Lincoln","startTime":54.94,"endTime":58.3,"body":"lick nincom, and joining me as"},{"speaker":"Nick Lincoln","startTime":54.94,"endTime":58.3,"body":"ever in the studio of doom are"},{"speaker":"Nick Lincoln","startTime":58.3,"endTime":61.62,"body":"the three other Horsemen of the"},{"speaker":"Nick Lincoln","startTime":58.3,"endTime":61.62,"body":"Apocalypse, Alan the"},{"speaker":"Nick Lincoln","startTime":61.62,"endTime":67.02,"body":"storyteller, Smith, Carl de la"},{"speaker":"Nick Lincoln","startTime":61.62,"endTime":67.02,"body":"voce, the voice widget, who's"},{"speaker":"Nick Lincoln","startTime":67.02,"endTime":72.72,"body":"won some rugby game? 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What a game on"},{"speaker":"Andy Hart","startTime":86.3,"endTime":89.36,"body":"Saturday, close game between"},{"speaker":"Andy Hart","startTime":86.3,"endTime":89.36,"body":"England and France. We Pimply."},{"speaker":"Andy Hart","startTime":89.36,"endTime":92.72,"body":"And finally, when I win,"},{"speaker":"Andy Hart","startTime":89.36,"endTime":92.72,"body":"finally, know what it feels like"},{"speaker":"Andy Hart","startTime":92.72,"endTime":96.14,"body":"to win a game by one point on"},{"speaker":"Andy Hart","startTime":92.72,"endTime":96.14,"body":"the on the winning team. And"},{"speaker":"Andy Hart","startTime":96.14,"endTime":99.26,"body":"then Ireland smash Scotland on"},{"speaker":"Andy Hart","startTime":96.14,"endTime":99.26,"body":"Sunday. So how did that go?"},{"speaker":"Andy Hart","startTime":99.32,"endTime":99.8,"body":"Cole,"},{"speaker":"Unknown","startTime":100.58,"endTime":103.6,"body":"yeah, that's exactly"},{"speaker":"Unknown","startTime":100.58,"endTime":103.6,"body":"how it went again. They smashed"},{"speaker":"Unknown","startTime":103.78,"endTime":104.38,"body":"it 11"},{"speaker":"Unknown","startTime":104.38,"endTime":106.78,"body":"now, 11 in a row. I don't know"},{"speaker":"Carl Widger","startTime":108.16,"endTime":110.8,"body":"how most only lost"},{"speaker":"Carl Widger","startTime":108.16,"endTime":110.8,"body":"four times in 25 years to"},{"speaker":"Carl Widger","startTime":110.8,"endTime":114.22,"body":"Scotland. Seems bizarre. Anyway."},{"speaker":"Carl Widger","startTime":110.8,"endTime":114.22,"body":"Delighted for England getting"},{"speaker":"Carl Widger","startTime":114.46,"endTime":118.3,"body":"win on the board because it was"},{"speaker":"Carl Widger","startTime":114.46,"endTime":118.3,"body":"looking like zero from two"},{"speaker":"Carl Widger","startTime":118.36,"endTime":121.98,"body":"again. But yeah, well done."},{"speaker":"Carl Widger","startTime":118.36,"endTime":121.98,"body":"Congrats to England. Really"},{"speaker":"Carl Widger","startTime":122.04,"endTime":122.94,"body":"delighted for you guys."},{"speaker":"Andy Hart","startTime":123.06,"endTime":125.52,"body":"I think Alan's muted"},{"speaker":"Andy Hart","startTime":123.06,"endTime":125.52,"body":"intentionally. He doesn't want"},{"speaker":"Andy Hart","startTime":125.58,"endTime":127.8,"body":"to speak during this rugby"},{"speaker":"Andy Hart","startTime":125.58,"endTime":127.8,"body":"segment. That's fine. 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There's no way it was you"},{"speaker":"Nick Lincoln","startTime":186.72,"endTime":189.36,"body":"gotta assume I've done my intro,"},{"speaker":"Nick Lincoln","startTime":186.72,"endTime":189.36,"body":"which means it's your time for"},{"speaker":"Nick Lincoln","startTime":189.36,"endTime":190.26,"body":"the reviews. I"},{"speaker":"Unknown","startTime":190.26,"endTime":191.7,"body":"wasn't going to mention"},{"speaker":"Unknown","startTime":190.26,"endTime":191.7,"body":"anything."},{"speaker":"Andy Hart","startTime":193.199,"endTime":196.139,"body":"Okay, the reviews."},{"speaker":"Andy Hart","startTime":193.199,"endTime":196.139,"body":"Two reviews today. The first one"},{"speaker":"Andy Hart","startTime":196.139,"endTime":200.659,"body":"is from Chris pedals. Five stars"},{"speaker":"Andy Hart","startTime":196.139,"endTime":200.659,"body":"best podcast in the business. I"},{"speaker":"Andy Hart","startTime":200.659,"endTime":204.199,"body":"recommend this podcast to every"},{"speaker":"Andy Hart","startTime":200.659,"endTime":204.199,"body":"advisor I meet for experienced,"},{"speaker":"Andy Hart","startTime":204.199,"endTime":208.639,"body":"well and successful"},{"speaker":"Andy Hart","startTime":204.199,"endTime":208.639,"body":"professionals, sharing their"},{"speaker":"Andy Hart","startTime":208.639,"endTime":211.939,"body":"experiences with what works and"},{"speaker":"Andy Hart","startTime":208.639,"endTime":211.939,"body":"doesn't in this great profession"},{"speaker":"Andy Hart","startTime":211.939,"endTime":215.359,"body":"of ours. It's also it also has"},{"speaker":"Andy Hart","startTime":211.939,"endTime":215.359,"body":"entertainment value in the"},{"speaker":"Andy Hart","startTime":215.359,"endTime":219.919,"body":"frequent banter and tall tales"},{"speaker":"Andy Hart","startTime":215.359,"endTime":219.919,"body":"from Mr. Smith. Final review,"},{"speaker":"Andy Hart","startTime":220.219,"endTime":223.779,"body":"Matt the Lancer, five stars,"},{"speaker":"Andy Hart","startTime":220.219,"endTime":223.779,"body":"entirely sensible and yet"},{"speaker":"Andy Hart","startTime":223.779,"endTime":227.799,"body":"completely nuts and precise at"},{"speaker":"Andy Hart","startTime":223.779,"endTime":227.799,"body":"the same time, trap has to be"},{"speaker":"Andy Hart","startTime":227.799,"endTime":230.679,"body":"the go to podcast for the next"},{"speaker":"Andy Hart","startTime":227.799,"endTime":230.679,"body":"generation, or agile members of"},{"speaker":"Andy Hart","startTime":230.679,"endTime":233.559,"body":"the current generation of"},{"speaker":"Andy Hart","startTime":230.679,"endTime":233.559,"body":"quality financial advisors. The"},{"speaker":"Andy Hart","startTime":233.559,"endTime":237.579,"body":"TRAPPIST, unrelenting focus on"},{"speaker":"Andy Hart","startTime":233.559,"endTime":237.579,"body":"financial planning leads elegant"},{"speaker":"Andy Hart","startTime":237.579,"endTime":241.319,"body":"simplicity, simple, equity"},{"speaker":"Andy Hart","startTime":237.579,"endTime":241.319,"body":"focused, local straight talking"},{"speaker":"Andy Hart","startTime":241.319,"endTime":244.019,"body":"financial advice is spot on,"},{"speaker":"Andy Hart","startTime":241.319,"endTime":244.019,"body":"loads and each episode to take"},{"speaker":"Andy Hart","startTime":244.019,"endTime":246.359,"body":"away and actually use in your"},{"speaker":"Andy Hart","startTime":244.019,"endTime":246.359,"body":"day to day business."},{"speaker":"Andy Hart","startTime":246.539,"endTime":250.439,"body":"Incidentally, there's a fair"},{"speaker":"Andy Hart","startTime":246.539,"endTime":250.439,"body":"number of the switched on SJP"},{"speaker":"Andy Hart","startTime":250.439,"endTime":255.059,"body":"partners, often who use SJP"},{"speaker":"Andy Hart","startTime":250.439,"endTime":255.059,"body":"passive range and price"},{"speaker":"Andy Hart","startTime":255.059,"endTime":259.079,"body":"extremely keenly for their"},{"speaker":"Andy Hart","startTime":255.059,"endTime":259.079,"body":"precious clients who sign up to"},{"speaker":"Andy Hart","startTime":259.079,"endTime":262.459,"body":"the trap ethos, keep up the good"},{"speaker":"Andy Hart","startTime":259.079,"endTime":262.459,"body":"work. Back to you. Nicholas,"},{"speaker":"Nick Lincoln","startTime":262.46,"endTime":264.08,"body":"very good. Thank"},{"speaker":"Nick Lincoln","startTime":262.46,"endTime":264.08,"body":"you, Andrew and thank you"},{"speaker":"Nick Lincoln","startTime":264.08,"endTime":266.3,"body":"TRAPPIST for those lovely"},{"speaker":"Nick Lincoln","startTime":264.08,"endTime":266.3,"body":"reviews. They really do give us"},{"speaker":"Nick Lincoln","startTime":266.3,"endTime":269.3,"body":"a shot in the arm. So keep on"},{"speaker":"Nick Lincoln","startTime":266.3,"endTime":269.3,"body":"sending them in. Six out of five"},{"speaker":"Nick Lincoln","startTime":269.3,"endTime":273.62,"body":"stars is a minimum. Okie dokie,"},{"speaker":"Nick Lincoln","startTime":269.3,"endTime":273.62,"body":"let's put a timestamp on episode"},{"speaker":"Nick Lincoln","startTime":274.22,"endTime":278.36,"body":"64 with some topical tit bits,"},{"speaker":"Nick Lincoln","startTime":274.22,"endTime":278.36,"body":"and we're going to kick off with"},{"speaker":"Nick Lincoln","startTime":279.08,"endTime":280.6,"body":"Ultra life strategy,"},{"speaker":"Andy Hart","startTime":281.56,"endTime":284.92,"body":"Vanguard life"},{"speaker":"Andy Hart","startTime":281.56,"endTime":284.92,"body":"strategy. These are a wonderful"},{"speaker":"Andy Hart","startTime":284.92,"endTime":290.62,"body":"fund range that sort of"},{"speaker":"Andy Hart","startTime":284.92,"endTime":290.62,"body":"pioneered the ONE FUND solution."},{"speaker":"Andy Hart","startTime":290.62,"endTime":293.68,"body":"It could be argued that various"},{"speaker":"Andy Hart","startTime":290.62,"endTime":293.68,"body":"different companies did this,"},{"speaker":"Andy Hart","startTime":293.68,"endTime":297.34,"body":"but the Vanguard life strategy"},{"speaker":"Andy Hart","startTime":293.68,"endTime":297.34,"body":"range of funds are an enormously"},{"speaker":"Andy Hart","startTime":297.34,"endTime":300.9,"body":"successful range of funds. Very"},{"speaker":"Andy Hart","startTime":297.34,"endTime":300.9,"body":"simple. Statistically, there's"},{"speaker":"Andy Hart","startTime":300.9,"endTime":305.16,"body":"the Vanguard life strategy,"},{"speaker":"Andy Hart","startTime":300.9,"endTime":305.16,"body":"2040, 6080, 100 and that denotes"},{"speaker":"Andy Hart","startTime":305.46,"endTime":310.8,"body":"the representation in what I"},{"speaker":"Andy Hart","startTime":305.46,"endTime":310.8,"body":"call low risk assets. 100% is"},{"speaker":"Andy Hart","startTime":310.92,"endTime":313.98,"body":"100% in low risk assets being"},{"speaker":"Andy Hart","startTime":310.92,"endTime":313.98,"body":"global equities. Anyway, these"},{"speaker":"Andy Hart","startTime":313.98,"endTime":316.38,"body":"funds have done fantastically"},{"speaker":"Andy Hart","startTime":313.98,"endTime":316.38,"body":"well, and they came out with"},{"speaker":"Andy Hart","startTime":316.38,"endTime":319.92,"body":"their sort of long term annual"},{"speaker":"Andy Hart","startTime":316.38,"endTime":319.92,"body":"figures recently. Now it makes"},{"speaker":"Andy Hart","startTime":319.92,"endTime":322.22,"body":"some quite interesting reading."},{"speaker":"Andy Hart","startTime":319.92,"endTime":322.22,"body":"I'll just highlight a couple of"},{"speaker":"Andy Hart","startTime":322.22,"endTime":326.06,"body":"things. The annualized return"},{"speaker":"Andy Hart","startTime":322.22,"endTime":326.06,"body":"from the low risk portfolio,"},{"speaker":"Andy Hart","startTime":326.06,"endTime":330.08,"body":"which is 100% global equities in"},{"speaker":"Andy Hart","startTime":326.06,"endTime":330.08,"body":"my world, has done 10.3% since"},{"speaker":"Andy Hart","startTime":330.08,"endTime":333.5,"body":"it started. Superb numbers. The"},{"speaker":"Andy Hart","startTime":330.08,"endTime":333.5,"body":"high risk portfolio, which is"},{"speaker":"Andy Hart","startTime":333.5,"endTime":337.22,"body":"20% in global equities in my"},{"speaker":"Andy Hart","startTime":333.5,"endTime":337.22,"body":"world, has done 3.79 and"},{"speaker":"Andy Hart","startTime":337.22,"endTime":340.3,"body":"obviously there's a divergence"},{"speaker":"Andy Hart","startTime":337.22,"endTime":340.3,"body":"between the split here, the"},{"speaker":"Andy Hart","startTime":340.3,"endTime":343.0,"body":"total returns have done exactly"},{"speaker":"Andy Hart","startTime":340.3,"endTime":343.0,"body":"what they said they were going"},{"speaker":"Andy Hart","startTime":343.0,"endTime":345.7,"body":"to do. Some advisors in the UK"},{"speaker":"Andy Hart","startTime":343.0,"endTime":345.7,"body":"have got a bit of a problem with"},{"speaker":"Andy Hart","startTime":345.7,"endTime":348.04,"body":"it, because they've got a bit"},{"speaker":"Andy Hart","startTime":345.7,"endTime":348.04,"body":"more of a UK slant to them. I"},{"speaker":"Andy Hart","startTime":348.04,"endTime":351.7,"body":"think the 100% equity portfolio"},{"speaker":"Andy Hart","startTime":348.04,"endTime":351.7,"body":"is 15% UK, and it should be"},{"speaker":"Andy Hart","startTime":351.7,"endTime":355.3,"body":"four, but this is splitting of"},{"speaker":"Andy Hart","startTime":351.7,"endTime":355.3,"body":"hairs. If you're going to say to"},{"speaker":"Andy Hart","startTime":355.3,"endTime":358.3,"body":"someone, you're not interested"},{"speaker":"Andy Hart","startTime":355.3,"endTime":358.3,"body":"in investing, you want to get a"},{"speaker":"Andy Hart","startTime":358.3,"endTime":361.74,"body":"good return long term, you can't"},{"speaker":"Andy Hart","startTime":358.3,"endTime":361.74,"body":"be asked to faff around and, you"},{"speaker":"Andy Hart","startTime":361.74,"endTime":364.56,"body":"know, move companies when some"},{"speaker":"Andy Hart","startTime":361.74,"endTime":364.56,"body":"die, some fly. You know, it's an"},{"speaker":"Andy Hart","startTime":364.56,"endTime":367.92,"body":"invest and forget, set it up"},{"speaker":"Andy Hart","startTime":364.56,"endTime":367.92,"body":"once, and you're good to go. A"},{"speaker":"Andy Hart","startTime":367.92,"endTime":371.52,"body":"huge fan of these, this fund"},{"speaker":"Andy Hart","startTime":367.92,"endTime":371.52,"body":"range, and I think they've"},{"speaker":"Andy Hart","startTime":371.52,"endTime":374.76,"body":"actually weirdly rebranded"},{"speaker":"Andy Hart","startTime":371.52,"endTime":374.76,"body":"themselves as an MPS, which is"},{"speaker":"Andy Hart","startTime":374.76,"endTime":376.86,"body":"obviously the flavor of the"},{"speaker":"Andy Hart","startTime":374.76,"endTime":376.86,"body":"month in the UK, managed"},{"speaker":"Andy Hart","startTime":376.86,"endTime":381.44,"body":"portfolio service that they"},{"speaker":"Andy Hart","startTime":376.86,"endTime":381.44,"body":"could be argued, they do"},{"speaker":"Andy Hart","startTime":381.44,"endTime":384.38,"body":"everything that an NPS does, or"},{"speaker":"Andy Hart","startTime":381.44,"endTime":384.38,"body":"not anywhere near as much as"},{"speaker":"Andy Hart","startTime":384.38,"endTime":386.78,"body":"what an NPS does. 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It's"},{"speaker":"Andy Hart","startTime":402.76,"endTime":404.02,"body":"just, it's rebranding,"},{"speaker":"Alan Smith","startTime":404.02,"endTime":405.1,"body":"isn't it that"},{"speaker":"Andy Hart","startTime":405.22,"endTime":409.84,"body":"you see, yeah. So"},{"speaker":"Andy Hart","startTime":405.22,"endTime":409.84,"body":"there's a lot of disguised MPs"},{"speaker":"Andy Hart","startTime":409.84,"endTime":412.66,"body":"is, and there's a lot of, let's"},{"speaker":"Andy Hart","startTime":409.84,"endTime":412.66,"body":"get onto the bandwagon. So,"},{"speaker":"Andy Hart","startTime":412.66,"endTime":414.76,"body":"yeah, it's quite interesting"},{"speaker":"Andy Hart","startTime":412.66,"endTime":414.76,"body":"reading the"},{"speaker":"Carl Widger","startTime":414.88,"endTime":418.72,"body":"Yeah, you can see"},{"speaker":"Carl Widger","startTime":414.88,"endTime":418.72,"body":"it is. They're brilliant funds"},{"speaker":"Carl Widger","startTime":418.72,"endTime":422.7,"body":"and a brilliant fund range. You"},{"speaker":"Carl Widger","startTime":418.72,"endTime":422.7,"body":"can see why they would kind of"},{"speaker":"Carl Widger","startTime":422.7,"endTime":427.38,"body":"rebrand just to so people don't"},{"speaker":"Carl Widger","startTime":422.7,"endTime":427.38,"body":"kind of misallocate where they"},{"speaker":"Carl Widger","startTime":427.38,"endTime":430.5,"body":"should kind of sit in the in,"},{"speaker":"Carl Widger","startTime":427.38,"endTime":430.5,"body":"you know, the whole fun range"},{"speaker":"Carl Widger","startTime":430.5,"endTime":432.36,"body":"thing. So, yeah, I think,"},{"speaker":"Andy Hart","startTime":433.56,"endTime":436.38,"body":"yeah, good point."},{"speaker":"Andy Hart","startTime":433.56,"endTime":436.38,"body":"Carl, you mean someone says you"},{"speaker":"Andy Hart","startTime":436.38,"endTime":439.08,"body":"need to get, you need to invest"},{"speaker":"Andy Hart","startTime":436.38,"endTime":439.08,"body":"in the NPS and Vanguard. Don't"},{"speaker":"Andy Hart","startTime":439.08,"endTime":442.28,"body":"want to get sort of overlooked,"},{"speaker":"Andy Hart","startTime":439.08,"endTime":442.28,"body":"or something exactly yeah, and"},{"speaker":"Andy Hart","startTime":442.28,"endTime":445.88,"body":"yeah, the the if your boys have"},{"speaker":"Andy Hart","startTime":442.28,"endTime":445.88,"body":"gone through the PDF, very"},{"speaker":"Andy Hart","startTime":445.88,"endTime":450.32,"body":"interesting. So the worst"},{"speaker":"Andy Hart","startTime":445.88,"endTime":450.32,"body":"calendar year out of any of the"},{"speaker":"Andy Hart","startTime":450.32,"endTime":456.44,"body":"Vanguard life strategy funds was"},{"speaker":"Andy Hart","startTime":450.32,"endTime":456.44,"body":"the year of 2022 and it was, in"},{"speaker":"Andy Hart","startTime":456.44,"endTime":459.62,"body":"their world, the lowest risk"},{"speaker":"Andy Hart","startTime":456.44,"endTime":459.62,"body":"portfolio. Now in my world, the"},{"speaker":"Andy Hart","startTime":459.62,"endTime":465.7,"body":"highest risk. It did keep it"},{"speaker":"Andy Hart","startTime":459.62,"endTime":465.7,"body":"simple, minus 16% the worst year"},{"speaker":"Andy Hart","startTime":465.94,"endTime":469.42,"body":"the 100% global the worst"},{"speaker":"Andy Hart","startTime":465.94,"endTime":469.42,"body":"calendar year, not from high"},{"speaker":"Andy Hart","startTime":469.42,"endTime":471.94,"body":"point to a low point peak to"},{"speaker":"Andy Hart","startTime":469.42,"endTime":471.94,"body":"drop. The worst calendar year"},{"speaker":"Andy Hart","startTime":471.94,"endTime":476.26,"body":"the 100% global equity portfolio"},{"speaker":"Andy Hart","startTime":471.94,"endTime":476.26,"body":"had was minus six. Again, it's a"},{"speaker":"Andy Hart","startTime":476.26,"endTime":479.32,"body":"travesty that people have been"},{"speaker":"Andy Hart","startTime":476.26,"endTime":479.32,"body":"sold this high risk, low risk,"},{"speaker":"Andy Hart","startTime":479.98,"endTime":483.72,"body":"Bs and the returns of night and"},{"speaker":"Andy Hart","startTime":479.98,"endTime":483.72,"body":"day. Had you invested in the"},{"speaker":"Andy Hart","startTime":483.72,"endTime":486.72,"body":"vanguard life strategy, 20 on"},{"speaker":"Andy Hart","startTime":483.72,"endTime":486.72,"body":"launch, compared to the Vanguard"},{"speaker":"Andy Hart","startTime":486.72,"endTime":489.48,"body":"life strategy 100 on launch,"},{"speaker":"Andy Hart","startTime":486.72,"endTime":489.48,"body":"your money would be six times"},{"speaker":"Andy Hart","startTime":489.48,"endTime":493.92,"body":"the size. Wow. This is insane."},{"speaker":"Andy Hart","startTime":489.48,"endTime":493.92,"body":"But they filled in a mumbo jumbo"},{"speaker":"Andy Hart","startTime":493.92,"endTime":496.26,"body":"questionnaire. They got put in"},{"speaker":"Andy Hart","startTime":493.92,"endTime":496.26,"body":"the wrong portfolio. They had a"},{"speaker":"Andy Hart","startTime":496.26,"endTime":498.54,"body":"bit of gray hair. They can't go"},{"speaker":"Andy Hart","startTime":496.26,"endTime":498.54,"body":"new global equities. You know,"},{"speaker":"Andy Hart","startTime":498.54,"endTime":500.16,"body":"all the usual stuff we bang on"},{"speaker":"Andy Hart","startTime":498.54,"endTime":500.16,"body":"about. So"},{"speaker":"Carl Widger","startTime":500.16,"endTime":503.24,"body":"I didn't. I didn't"},{"speaker":"Carl Widger","startTime":500.16,"endTime":503.24,"body":"even see the show notes. Andy,"},{"speaker":"Carl Widger","startTime":503.24,"endTime":506.48,"body":"so I didn't. Are all those"},{"speaker":"Carl Widger","startTime":503.24,"endTime":506.48,"body":"numbers in that PDF, detailed"},{"speaker":"Carl Widger","startTime":506.96,"endTime":509.24,"body":"PDF. It's really for everybody."},{"speaker":"Carl Widger","startTime":506.96,"endTime":509.24,"body":"That's like,"},{"speaker":"Nick Lincoln","startTime":509.24,"endTime":510.62,"body":"when did, when did"},{"speaker":"Nick Lincoln","startTime":509.24,"endTime":510.62,"body":"the when did the"},{"speaker":"Andy Hart","startTime":510.62,"endTime":515.9,"body":"fund range launch?"},{"speaker":"Andy Hart","startTime":510.62,"endTime":515.9,"body":"The fund range launched 23rd of"},{"speaker":"Andy Hart","startTime":515.9,"endTime":519.2,"body":"June, 2011 This is decent. Okay,"},{"speaker":"Andy Hart","startTime":515.9,"endTime":519.2,"body":"so"},{"speaker":"Nick Lincoln","startTime":519.2,"endTime":520.96,"body":"they haven't had"},{"speaker":"Nick Lincoln","startTime":519.2,"endTime":520.96,"body":"a, we haven't they haven't. We"},{"speaker":"Nick Lincoln","startTime":520.96,"endTime":523.78,"body":"haven't had a prolonged bear"},{"speaker":"Nick Lincoln","startTime":520.96,"endTime":523.78,"body":"market in that time in equities."},{"speaker":"Nick Lincoln","startTime":523.78,"endTime":526.6,"body":"That skews the figures and also"},{"speaker":"Nick Lincoln","startTime":523.78,"endTime":526.6,"body":"bang a reason i The Bank of life"},{"speaker":"Nick Lincoln","startTime":526.6,"endTime":529.06,"body":"strategy gives me slightly"},{"speaker":"Nick Lincoln","startTime":526.6,"endTime":529.06,"body":"Willies, is they invest in long,"},{"speaker":"Nick Lincoln","startTime":529.06,"endTime":531.58,"body":"dated guilt, which are a waste"},{"speaker":"Nick Lincoln","startTime":529.06,"endTime":531.58,"body":"of time, which will be, we're"},{"speaker":"Nick Lincoln","startTime":531.58,"endTime":531.82,"body":"not,"},{"speaker":"Unknown","startTime":531.82,"endTime":535.9,"body":"not in 100% global"},{"speaker":"Unknown","startTime":531.82,"endTime":535.9,"body":"equity portfolio, 20% equity."},{"speaker":"Nick Lincoln","startTime":536.08,"endTime":537.82,"body":"That's why it was"},{"speaker":"Nick Lincoln","startTime":536.08,"endTime":537.82,"body":"down 16%"},{"speaker":"Unknown","startTime":538.96,"endTime":540.3,"body":"but yeah, look,"},{"speaker":"Andy Hart","startTime":540.3,"endTime":543.78,"body":"he it's not perfect."},{"speaker":"Andy Hart","startTime":540.3,"endTime":543.78,"body":"I have you showed me the"},{"speaker":"Andy Hart","startTime":543.78,"endTime":546.36,"body":"portfolio boots, my portfolio,"},{"speaker":"Andy Hart","startTime":543.78,"endTime":546.36,"body":"I'll show you portfolio boots"},{"speaker":"Andy Hart","startTime":546.36,"endTime":548.7,"body":"both and by nightfall. You know,"},{"speaker":"Andy Hart","startTime":546.36,"endTime":548.7,"body":"it's always the case like this"},{"speaker":"Andy Hart","startTime":548.7,"endTime":551.82,"body":"one beats that one that was beat"},{"speaker":"Andy Hart","startTime":548.7,"endTime":551.82,"body":"this one. You know, I I've"},{"speaker":"Alan Smith","startTime":551.88,"endTime":555.24,"body":"often recommended,"},{"speaker":"Alan Smith","startTime":551.88,"endTime":555.24,"body":"on, on or suggested, you know,"},{"speaker":"Alan Smith","startTime":555.3,"endTime":558.48,"body":"your friends, family, relatives"},{"speaker":"Alan Smith","startTime":555.3,"endTime":558.48,"body":"who are regulated, aren't you"},{"speaker":"Alan Smith","startTime":558.48,"endTime":562.64,"body":"Alan who say, I said, Go and"},{"speaker":"Alan Smith","startTime":558.48,"endTime":562.64,"body":"have a look. I've got 300 pound"},{"speaker":"Alan Smith","startTime":562.64,"endTime":565.46,"body":"a month to save for something."},{"speaker":"Alan Smith","startTime":562.64,"endTime":565.46,"body":"What should I do? I said just go"},{"speaker":"Alan Smith","startTime":565.46,"endTime":568.34,"body":"and check out. Because, you know"},{"speaker":"Alan Smith","startTime":565.46,"endTime":568.34,"body":"the D to C model, you can click"},{"speaker":"Alan Smith","startTime":568.34,"endTime":570.74,"body":"through this. But of course, it"},{"speaker":"Alan Smith","startTime":568.34,"endTime":570.74,"body":"does have a natural risk"},{"speaker":"Alan Smith","startTime":570.74,"endTime":573.68,"body":"profiling tool at the front end"},{"speaker":"Alan Smith","startTime":570.74,"endTime":573.68,"body":"of it, which they, I guess they"},{"speaker":"Alan Smith","startTime":573.68,"endTime":577.28,"body":"have to do, and it will direct"},{"speaker":"Alan Smith","startTime":573.68,"endTime":577.28,"body":"people towards there and really"},{"speaker":"Alan Smith","startTime":577.28,"endTime":581.08,"body":"how you framed this and at the"},{"speaker":"Alan Smith","startTime":577.28,"endTime":581.08,"body":"beginning, and often say that as"},{"speaker":"Alan Smith","startTime":581.08,"endTime":584.38,"body":"well. It's not high risk"},{"speaker":"Alan Smith","startTime":581.08,"endTime":584.38,"body":"portfolio low risk portfolios."},{"speaker":"Alan Smith","startTime":584.38,"endTime":587.56,"body":"Do you want a high return"},{"speaker":"Alan Smith","startTime":584.38,"endTime":587.56,"body":"portfolio or a low return"},{"speaker":"Alan Smith","startTime":587.56,"endTime":590.56,"body":"portfolio? Which one do you"},{"speaker":"Alan Smith","startTime":587.56,"endTime":590.56,"body":"prefer? Naturally, everyone"},{"speaker":"Alan Smith","startTime":590.56,"endTime":593.2,"body":"says, I'd like the high return"},{"speaker":"Alan Smith","startTime":590.56,"endTime":593.2,"body":"portfolio. And then you might"},{"speaker":"Alan Smith","startTime":593.2,"endTime":596.26,"body":"have to caveat it by saying,"},{"speaker":"Alan Smith","startTime":593.2,"endTime":596.26,"body":"okay, we can deliver that."},{"speaker":"Alan Smith","startTime":596.26,"endTime":599.02,"body":"However. Just be aware that it"},{"speaker":"Alan Smith","startTime":596.26,"endTime":599.02,"body":"is a bit more volatile. It does"},{"speaker":"Alan Smith","startTime":599.02,"endTime":601.44,"body":"tend to go up in. Down a bit"},{"speaker":"Alan Smith","startTime":599.02,"endTime":601.44,"body":"more than the others. Is that"},{"speaker":"Alan Smith","startTime":601.44,"endTime":603.96,"body":"okay with you because you're"},{"speaker":"Alan Smith","startTime":601.44,"endTime":603.96,"body":"investing for the next 30 years?"},{"speaker":"Alan Smith","startTime":604.02,"endTime":607.26,"body":"Yes or No, framing is framing is"},{"speaker":"Alan Smith","startTime":604.02,"endTime":607.26,"body":"really important than this."},{"speaker":"Alan Smith","startTime":607.26,"endTime":609.9,"body":"Unfortunately, it's framed in"},{"speaker":"Alan Smith","startTime":607.26,"endTime":609.9,"body":"the wrong way, because you plug"},{"speaker":"Alan Smith","startTime":609.9,"endTime":612.78,"body":"yourself into that, you put your"},{"speaker":"Alan Smith","startTime":609.9,"endTime":612.78,"body":"details in, you get risk"},{"speaker":"Alan Smith","startTime":612.78,"endTime":616.02,"body":"profiles that says, yeah, it's"},{"speaker":"Alan Smith","startTime":612.78,"endTime":616.02,"body":"focused on volatility. You say,"},{"speaker":"Alan Smith","startTime":616.02,"endTime":619.14,"body":"I don't want that. I don't like"},{"speaker":"Alan Smith","startTime":616.02,"endTime":619.14,"body":"that. So you end up getting"},{"speaker":"Alan Smith","startTime":619.8,"endTime":625.64,"body":"shoveled into the 60 or 30 or 20"},{"speaker":"Alan Smith","startTime":619.8,"endTime":625.64,"body":"or whatever. The numbers are"},{"speaker":"Alan Smith","startTime":625.64,"endTime":629.42,"body":"interesting, six times, six"},{"speaker":"Alan Smith","startTime":625.64,"endTime":629.42,"body":"times return in a short period."},{"speaker":"Nick Lincoln","startTime":629.48,"endTime":631.64,"body":"No bear market, no"},{"speaker":"Nick Lincoln","startTime":629.48,"endTime":631.64,"body":"bear market in that time. Let's"},{"speaker":"Nick Lincoln","startTime":631.64,"endTime":634.46,"body":"just keep this realistic, right?"},{"speaker":"Nick Lincoln","startTime":631.64,"endTime":634.46,"body":"We'll see. We'll see how people"},{"speaker":"Nick Lincoln","startTime":634.46,"endTime":637.76,"body":"stick in that 100% fun when"},{"speaker":"Nick Lincoln","startTime":634.46,"endTime":637.76,"body":"there's a proper prolonged bear"},{"speaker":"Nick Lincoln","startTime":637.76,"endTime":639.56,"body":"market, which these funds have"},{"speaker":"Nick Lincoln","startTime":637.76,"endTime":639.56,"body":"not had."},{"speaker":"Unknown","startTime":639.86,"endTime":642.04,"body":"Have you know, I do"},{"speaker":"Unknown","startTime":639.86,"endTime":642.04,"body":"medication this"},{"speaker":"Nick Lincoln","startTime":643.66,"endTime":645.88,"body":"morning. I've not"},{"speaker":"Nick Lincoln","startTime":643.66,"endTime":645.88,"body":"yet spoken over anybody yet."},{"speaker":"Nick Lincoln","startTime":645.88,"endTime":650.68,"body":"Andy, I'll leave that to you."},{"speaker":"Nick Lincoln","startTime":645.88,"endTime":650.68,"body":"Carl, do you have Irish versions"},{"speaker":"Nick Lincoln","startTime":650.68,"endTime":652.0,"body":"of these funds? Yeah,"},{"speaker":"Carl Widger","startTime":653.32,"endTime":660.12,"body":"look just under on"},{"speaker":"Carl Widger","startTime":653.32,"endTime":660.12,"body":"the on the bond portion of the"},{"speaker":"Carl Widger","startTime":660.12,"endTime":663.78,"body":"portfolios, as you know, I like"},{"speaker":"Carl Widger","startTime":660.12,"endTime":663.78,"body":"them, and I'm okay with long"},{"speaker":"Carl Widger","startTime":663.96,"endTime":669.3,"body":"duration bonds being in a part"},{"speaker":"Carl Widger","startTime":663.96,"endTime":669.3,"body":"of the portfolio, because you're"},{"speaker":"Carl Widger","startTime":669.3,"endTime":673.62,"body":"right. Nick, there hasn't been"},{"speaker":"Carl Widger","startTime":669.3,"endTime":673.62,"body":"any serious market correction."},{"speaker":"Carl Widger","startTime":673.62,"endTime":678.24,"body":"And when that does come, the"},{"speaker":"Carl Widger","startTime":673.62,"endTime":678.24,"body":"bond portfolio should, and I"},{"speaker":"Carl Widger","startTime":678.24,"endTime":683.3,"body":"would say, will smooth it out."},{"speaker":"Carl Widger","startTime":678.24,"endTime":683.3,"body":"And I'm all about keeping"},{"speaker":"Carl Widger","startTime":683.3,"endTime":687.92,"body":"investors invested in what we"},{"speaker":"Carl Widger","startTime":683.3,"endTime":687.92,"body":"recommend in the long term, and"},{"speaker":"Carl Widger","startTime":687.92,"endTime":691.88,"body":"I think that will help. So"},{"speaker":"Carl Widger","startTime":687.92,"endTime":691.88,"body":"there's also an argument, of"},{"speaker":"Carl Widger","startTime":691.88,"endTime":696.56,"body":"course, if 2022 was one of the"},{"speaker":"Carl Widger","startTime":691.88,"endTime":696.56,"body":"worst years ever, well then"},{"speaker":"Carl Widger","startTime":696.86,"endTime":700.22,"body":"there should be a little bit of"},{"speaker":"Carl Widger","startTime":696.86,"endTime":700.22,"body":"an uptick in the performance of"},{"speaker":"Carl Widger","startTime":700.22,"endTime":704.32,"body":"that bond portfolio as part of"},{"speaker":"Carl Widger","startTime":700.22,"endTime":704.32,"body":"those funds. So yeah, I think"},{"speaker":"Carl Widger","startTime":704.8,"endTime":707.44,"body":"really, really good. And I think"},{"speaker":"Carl Widger","startTime":704.8,"endTime":707.44,"body":"there's arguments for and"},{"speaker":"Carl Widger","startTime":707.44,"endTime":711.16,"body":"against, but I think the point"},{"speaker":"Carl Widger","startTime":707.44,"endTime":711.16,"body":"here is, really, if we're going"},{"speaker":"Carl Widger","startTime":711.16,"endTime":714.34,"body":"to recommend stuff to clients,"},{"speaker":"Carl Widger","startTime":711.16,"endTime":714.34,"body":"it's what can we keep our"},{"speaker":"Carl Widger","startTime":714.34,"endTime":718.36,"body":"clients invested in? Is probably"},{"speaker":"Carl Widger","startTime":714.34,"endTime":718.36,"body":"more important than actually the"},{"speaker":"Carl Widger","startTime":718.42,"endTime":722.88,"body":"specifics, as long as we are"},{"speaker":"Carl Widger","startTime":718.42,"endTime":722.88,"body":"predominantly invested in"},{"speaker":"Carl Widger","startTime":722.88,"endTime":723.78,"body":"equities. Yeah."},{"speaker":"Andy Hart","startTime":723.78,"endTime":725.88,"body":"Well, thank you,"},{"speaker":"Andy Hart","startTime":723.78,"endTime":725.88,"body":"yeah. I mean, final points on"},{"speaker":"Andy Hart","startTime":725.88,"endTime":728.16,"body":"this, I mean, they're not"},{"speaker":"Andy Hart","startTime":725.88,"endTime":728.16,"body":"perfect, but they're pretty"},{"speaker":"Andy Hart","startTime":728.16,"endTime":731.28,"body":"close, too. And also, they've"},{"speaker":"Andy Hart","startTime":728.16,"endTime":731.28,"body":"been reducing their fees ever"},{"speaker":"Andy Hart","startTime":731.28,"endTime":734.16,"body":"since they've launched. So"},{"speaker":"Andy Hart","startTime":731.28,"endTime":734.16,"body":"again, that's part of the"},{"speaker":"Andy Hart","startTime":734.16,"endTime":735.66,"body":"Vanguard ethos. So I"},{"speaker":"Carl Widger","startTime":735.66,"endTime":741.2,"body":"think they're doing"},{"speaker":"Carl Widger","startTime":735.66,"endTime":741.2,"body":"that again right now, but you're"},{"speaker":"Carl Widger","startTime":741.2,"endTime":745.1,"body":"right. Andy, that is the exact"},{"speaker":"Carl Widger","startTime":741.2,"endTime":745.1,"body":"point anybody shouting to Norman"},{"speaker":"Carl Widger","startTime":745.1,"endTime":748.28,"body":"about, I have the best and the"},{"speaker":"Carl Widger","startTime":745.1,"endTime":748.28,"body":"perfect investment. It does not"},{"speaker":"Carl Widger","startTime":748.28,"endTime":751.1,"body":"exist. Does not exist. Okay,"},{"speaker":"Nick Lincoln","startTime":751.28,"endTime":753.86,"body":"okay, thank you."},{"speaker":"Nick Lincoln","startTime":751.28,"endTime":753.86,"body":"Right? 12 minutes in, and we've"},{"speaker":"Nick Lincoln","startTime":753.86,"endTime":756.5,"body":"done one typical tidbit. Smithy,"},{"speaker":"Nick Lincoln","startTime":753.86,"endTime":756.5,"body":"this is, well, the guy was"},{"speaker":"Nick Lincoln","startTime":756.5,"endTime":758.96,"body":"talking tripe, tell us about"},{"speaker":"Nick Lincoln","startTime":756.5,"endTime":758.96,"body":"what the guy was talking about."},{"speaker":"Nick Lincoln","startTime":758.96,"endTime":759.5,"body":"Well,"},{"speaker":"Alan Smith","startTime":759.5,"endTime":763.48,"body":"the the origin of"},{"speaker":"Alan Smith","startTime":759.5,"endTime":763.48,"body":"this is I was contacted by a"},{"speaker":"Alan Smith","startTime":763.48,"endTime":767.56,"body":"TRAPPIST, an avid fan and"},{"speaker":"Alan Smith","startTime":763.48,"endTime":767.56,"body":"listener called Steve Newton. I"},{"speaker":"Alan Smith","startTime":767.56,"endTime":770.92,"body":"have his permission to share his"},{"speaker":"Alan Smith","startTime":767.56,"endTime":770.92,"body":"information. He's very keen to"},{"speaker":"Alan Smith","startTime":770.92,"endTime":775.0,"body":"be part of this expose a if you"},{"speaker":"Alan Smith","startTime":770.92,"endTime":775.0,"body":"like. Interestingly, Steve is"},{"speaker":"Alan Smith","startTime":775.0,"endTime":778.36,"body":"not a member of our wonderful"},{"speaker":"Alan Smith","startTime":775.0,"endTime":778.36,"body":"profession, but he's an avid"},{"speaker":"Alan Smith","startTime":778.36,"endTime":781.86,"body":"listener. He works in a"},{"speaker":"Alan Smith","startTime":778.36,"endTime":781.86,"body":"different industry, but he likes"},{"speaker":"Alan Smith","startTime":781.86,"endTime":784.92,"body":"trap, and he tunes into it, and"},{"speaker":"Alan Smith","startTime":781.86,"endTime":784.92,"body":"he listens and watches other"},{"speaker":"Alan Smith","startTime":784.92,"endTime":789.12,"body":"personal finance podcasts, one"},{"speaker":"Alan Smith","startTime":784.92,"endTime":789.12,"body":"of which is something which I"},{"speaker":"Alan Smith","startTime":789.12,"endTime":792.72,"body":"hadn't come across before,"},{"speaker":"Alan Smith","startTime":789.12,"endTime":792.72,"body":"Damian Jordan, who apparently is"},{"speaker":"Alan Smith","startTime":792.78,"endTime":797.76,"body":"a pretty good personal finance"},{"speaker":"Alan Smith","startTime":792.78,"endTime":797.76,"body":"YouTuber, and and Steve was keen"},{"speaker":"Alan Smith","startTime":797.76,"endTime":800.84,"body":"to sort of have our take On"},{"speaker":"Alan Smith","startTime":797.76,"endTime":800.84,"body":"this, and actually specifically"},{"speaker":"Alan Smith","startTime":800.84,"endTime":805.7,"body":"said, Nick's take on this,"},{"speaker":"Alan Smith","startTime":800.84,"endTime":805.7,"body":"because Damian Jordan recently"},{"speaker":"Alan Smith","startTime":805.7,"endTime":808.7,"body":"on his YouTube podcast"},{"speaker":"Alan Smith","startTime":805.7,"endTime":808.7,"body":"interviewed a gentleman by the"},{"speaker":"Alan Smith","startTime":808.7,"endTime":813.26,"body":"name of Paul Todd, who's the"},{"speaker":"Alan Smith","startTime":808.7,"endTime":813.26,"body":"head of nest pensions and nest"},{"speaker":"Alan Smith","startTime":813.26,"endTime":816.14,"body":"card. You might not know this,"},{"speaker":"Alan Smith","startTime":813.26,"endTime":816.14,"body":"but our big auto enrollment"},{"speaker":"Alan Smith","startTime":816.68,"endTime":820.66,"body":"schemes across the UK nest are"},{"speaker":"Alan Smith","startTime":816.68,"endTime":820.66,"body":"one of the biggest providers of"},{"speaker":"Alan Smith","startTime":820.72,"endTime":823.9,"body":"auto enrollment, and they"},{"speaker":"Alan Smith","startTime":820.72,"endTime":823.9,"body":"currently are responsible for"},{"speaker":"Alan Smith","startTime":823.9,"endTime":828.88,"body":"managing 45 billion pounds"},{"speaker":"Alan Smith","startTime":823.9,"endTime":828.88,"body":"sterling. Well, they've got up"},{"speaker":"Alan Smith","startTime":828.88,"endTime":831.94,"body":"to, wow, yeah, of sort of"},{"speaker":"Alan Smith","startTime":828.88,"endTime":831.94,"body":"pensions, people that people are"},{"speaker":"Alan Smith","startTime":831.94,"endTime":835.18,"body":"kicking generally, people who"},{"speaker":"Alan Smith","startTime":831.94,"endTime":835.18,"body":"are in work, workplace pension"},{"speaker":"Alan Smith","startTime":835.18,"endTime":838.36,"body":"schemes accumulating for the"},{"speaker":"Alan Smith","startTime":835.18,"endTime":838.36,"body":"longest. It's the default"},{"speaker":"Alan Smith","startTime":838.36,"endTime":838.72,"body":"kicking"},{"speaker":"Carl Widger","startTime":838.84,"endTime":841.74,"body":"in here, in later"},{"speaker":"Carl Widger","startTime":838.84,"endTime":841.74,"body":"on this area. So okay, so Paul"},{"speaker":"Carl Widger","startTime":841.74,"endTime":843.18,"body":"Todd is obviously a person"},{"speaker":"Alan Smith","startTime":843.18,"endTime":845.88,"body":"of influence at this"},{"speaker":"Alan Smith","startTime":843.18,"endTime":845.88,"body":"company. Apparently, on this"},{"speaker":"Alan Smith","startTime":845.88,"endTime":850.98,"body":"interview, was saying that the"},{"speaker":"Alan Smith","startTime":845.88,"endTime":850.98,"body":"best returns are available"},{"speaker":"Alan Smith","startTime":850.98,"endTime":854.04,"body":"through private equity"},{"speaker":"Alan Smith","startTime":850.98,"endTime":854.04,"body":"investing, and illiquid"},{"speaker":"Alan Smith","startTime":854.04,"endTime":858.42,"body":"investments will do better than"},{"speaker":"Alan Smith","startTime":854.04,"endTime":858.42,"body":"investing in equity index funds"},{"speaker":"Alan Smith","startTime":858.42,"endTime":862.94,"body":"over the long term. Bear in mind"},{"speaker":"Alan Smith","startTime":858.42,"endTime":862.94,"body":"his again responsibility and"},{"speaker":"Alan Smith","startTime":862.94,"endTime":866.6,"body":"position of influence over 45"},{"speaker":"Alan Smith","startTime":862.94,"endTime":866.6,"body":"billion of long term pension"},{"speaker":"Alan Smith","startTime":866.6,"endTime":871.1,"body":"holder savings money. I thought"},{"speaker":"Alan Smith","startTime":866.6,"endTime":871.1,"body":"that was interesting. I thought"},{"speaker":"Alan Smith","startTime":871.1,"endTime":874.94,"body":"arguably, I mean, what my"},{"speaker":"Alan Smith","startTime":871.1,"endTime":874.94,"body":"immediate take record is, what?"},{"speaker":"Alan Smith","startTime":875.48,"endTime":880.1,"body":"What part of the last 50 years"},{"speaker":"Alan Smith","startTime":875.48,"endTime":880.1,"body":"of academic research and just"},{"speaker":"Alan Smith","startTime":880.16,"endTime":884.86,"body":"independent research evidence,"},{"speaker":"Alan Smith","startTime":880.16,"endTime":884.86,"body":"report, any number of things has"},{"speaker":"Alan Smith","startTime":884.86,"endTime":888.58,"body":"he missed throughout this?"},{"speaker":"Alan Smith","startTime":884.86,"endTime":888.58,"body":"Because there is little or no"},{"speaker":"Alan Smith","startTime":888.58,"endTime":892.96,"body":"evidence that supports his view"},{"speaker":"Alan Smith","startTime":888.58,"endTime":892.96,"body":"that investing for retail"},{"speaker":"Alan Smith","startTime":892.96,"endTime":896.26,"body":"punters, people saving 300 pound"},{"speaker":"Alan Smith","startTime":892.96,"endTime":896.26,"body":"a month for the next 3040,"},{"speaker":"Alan Smith","startTime":896.68,"endTime":900.18,"body":"years, that investing illiquid"},{"speaker":"Alan Smith","startTime":896.68,"endTime":900.18,"body":"assets and private equity. Would"},{"speaker":"Alan Smith","startTime":900.18,"endTime":903.72,"body":"be the most more appropriate"},{"speaker":"Alan Smith","startTime":900.18,"endTime":903.72,"body":"strategy. So arguably, yeah, I"},{"speaker":"Alan Smith","startTime":903.72,"endTime":907.5,"body":"don't know this gentleman, but a"},{"speaker":"Alan Smith","startTime":903.72,"endTime":907.5,"body":"pretty reckless statement, I"},{"speaker":"Alan Smith","startTime":907.5,"endTime":910.02,"body":"would have thought, What do you"},{"speaker":"Alan Smith","startTime":907.5,"endTime":910.02,"body":"think? Nick Lincoln, Nick"},{"speaker":"Alan Smith","startTime":910.02,"endTime":912.72,"body":"Lincoln, what are your thoughts?"},{"speaker":"Alan Smith","startTime":910.02,"endTime":912.72,"body":"Because Steve wants to hear,"},{"speaker":"Alan Smith","startTime":912.78,"endTime":913.14,"body":"Steve"},{"speaker":"Nick Lincoln","startTime":913.2,"endTime":915.12,"body":"wants to hear,"},{"speaker":"Nick Lincoln","startTime":913.2,"endTime":915.12,"body":"what Nick Lincoln thinks about"},{"speaker":"Nick Lincoln","startTime":915.12,"endTime":918.12,"body":"this arrest. I listened to it,"},{"speaker":"Nick Lincoln","startTime":915.12,"endTime":918.12,"body":"and I did. I think the guy was,"},{"speaker":"Nick Lincoln","startTime":918.12,"endTime":920.84,"body":"I think it was a bad thing to"},{"speaker":"Nick Lincoln","startTime":918.12,"endTime":920.84,"body":"say. There's definitely a push"},{"speaker":"Nick Lincoln","startTime":920.84,"endTime":923.36,"body":"for private equity. It's been"},{"speaker":"Nick Lincoln","startTime":920.84,"endTime":923.36,"body":"the thing du jour, hasn't it?"},{"speaker":"Nick Lincoln","startTime":923.36,"endTime":926.0,"body":"All the trade press. It comes in"},{"speaker":"Nick Lincoln","startTime":923.36,"endTime":926.0,"body":"the first few months, the last"},{"speaker":"Nick Lincoln","startTime":926.0,"endTime":928.4,"body":"few months of last during the"},{"speaker":"Nick Lincoln","startTime":926.0,"endTime":928.4,"body":"first couple months of this"},{"speaker":"Nick Lincoln","startTime":928.4,"endTime":931.04,"body":"year, it's been various articles"},{"speaker":"Nick Lincoln","startTime":928.4,"endTime":931.04,"body":"about private equity. There's"},{"speaker":"Nick Lincoln","startTime":931.04,"endTime":933.68,"body":"obviously a groundswell trying"},{"speaker":"Nick Lincoln","startTime":931.04,"endTime":933.68,"body":"to get money into it. Maybe it's"},{"speaker":"Nick Lincoln","startTime":933.68,"endTime":936.44,"body":"because the UK listed stock"},{"speaker":"Nick Lincoln","startTime":933.68,"endTime":936.44,"body":"market is just becoming less and"},{"speaker":"Nick Lincoln","startTime":936.44,"endTime":938.84,"body":"less. I don't know. I think,"},{"speaker":"Nick Lincoln","startTime":936.44,"endTime":938.84,"body":"yeah, not, not nonsense,"},{"speaker":"Nick Lincoln","startTime":938.84,"endTime":942.4,"body":"nonsense. Just, just, this has"},{"speaker":"Nick Lincoln","startTime":938.84,"endTime":942.4,"body":"got to be a plain vanilla, plain"},{"speaker":"Nick Lincoln","startTime":942.4,"endTime":945.34,"body":"nest. Got to be a plain vanilla,"},{"speaker":"Nick Lincoln","startTime":942.4,"endTime":945.34,"body":"highly liquid, highly"},{"speaker":"Nick Lincoln","startTime":945.34,"endTime":948.34,"body":"transparent place. It's bad"},{"speaker":"Nick Lincoln","startTime":945.34,"endTime":948.34,"body":"enough. You're, you know, you"},{"speaker":"Nick Lincoln","startTime":948.34,"endTime":950.92,"body":"these people invest in the nest,"},{"speaker":"Nick Lincoln","startTime":948.34,"endTime":950.92,"body":"are going to have no interest in"},{"speaker":"Nick Lincoln","startTime":950.92,"endTime":953.14,"body":"pensions. By and large. I know"},{"speaker":"Nick Lincoln","startTime":950.92,"endTime":953.14,"body":"that's a sweeping state, but"},{"speaker":"Nick Lincoln","startTime":953.14,"endTime":955.42,"body":"they really are not going to"},{"speaker":"Nick Lincoln","startTime":953.14,"endTime":955.42,"body":"have an interest in pensions."},{"speaker":"Nick Lincoln","startTime":955.42,"endTime":958.0,"body":"The last thing you want to do is"},{"speaker":"Nick Lincoln","startTime":955.42,"endTime":958.0,"body":"put them into something where it"},{"speaker":"Nick Lincoln","startTime":958.0,"endTime":960.6,"body":"could go theoretically, very"},{"speaker":"Nick Lincoln","startTime":958.0,"endTime":960.6,"body":"wrong, illiquid. I just don't"},{"speaker":"Nick Lincoln","startTime":960.6,"endTime":963.36,"body":"just have a, I think this has"},{"speaker":"Nick Lincoln","startTime":960.6,"endTime":963.36,"body":"got one global equity fund,"},{"speaker":"Nick Lincoln","startTime":963.36,"endTime":966.84,"body":"which is a Sharia compliant"},{"speaker":"Nick Lincoln","startTime":963.36,"endTime":966.84,"body":"fund, you know, that's, that's,"},{"speaker":"Nick Lincoln","startTime":966.84,"endTime":969.6,"body":"that's where they should be"},{"speaker":"Nick Lincoln","startTime":966.84,"endTime":969.6,"body":"putting the money. I just, yeah,"},{"speaker":"Nick Lincoln","startTime":969.6,"endTime":971.82,"body":"garbage, garbage, Mr. Newton, is"},{"speaker":"Nick Lincoln","startTime":969.6,"endTime":971.82,"body":"my opinion."},{"speaker":"Carl Widger","startTime":973.02,"endTime":975.12,"body":"There we go. Did"},{"speaker":"Carl Widger","startTime":973.02,"endTime":975.12,"body":"the interviewer push back Alan,"},{"speaker":"Carl Widger","startTime":975.12,"endTime":978.0,"body":"or did he I didn't listen"},{"speaker":"Alan Smith","startTime":978.0,"endTime":981.08,"body":"to it. According to"},{"speaker":"Alan Smith","startTime":978.0,"endTime":981.08,"body":"Steve, he said he came across"},{"speaker":"Alan Smith","startTime":981.08,"endTime":983.54,"body":"like he was biting his tongue,"},{"speaker":"Alan Smith","startTime":981.08,"endTime":983.54,"body":"you know, he just, he wanted to"},{"speaker":"Alan Smith","startTime":983.54,"endTime":986.12,"body":"push back, but he allowed the"},{"speaker":"Alan Smith","startTime":983.54,"endTime":986.12,"body":"guy to continue. What were you"},{"speaker":"Alan Smith","startTime":986.12,"endTime":986.78,"body":"quite good about"},{"speaker":"Nick Lincoln","startTime":986.78,"endTime":988.52,"body":"making money?"},{"speaker":"Nick Lincoln","startTime":986.78,"endTime":988.52,"body":"Podcast, the two young chaps"},{"speaker":"Nick Lincoln","startTime":988.52,"endTime":990.26,"body":"have run it. They're quite good."},{"speaker":"Nick Lincoln","startTime":988.52,"endTime":990.26,"body":"Actually, they're quite"},{"speaker":"Nick Lincoln","startTime":990.26,"endTime":993.14,"body":"disagreeable. They don't I"},{"speaker":"Nick Lincoln","startTime":990.26,"endTime":993.14,"body":"listen to it. There was other"},{"speaker":"Nick Lincoln","startTime":993.2,"endTime":995.54,"body":"things they pushed back on him"},{"speaker":"Nick Lincoln","startTime":993.2,"endTime":995.54,"body":"about, about how the cost too"},{"speaker":"Nick Lincoln","startTime":995.54,"endTime":998.24,"body":"high, because nest does levy an"},{"speaker":"Nick Lincoln","startTime":995.54,"endTime":998.24,"body":"initial charge on contributions"},{"speaker":"Nick Lincoln","startTime":998.24,"endTime":1000.52,"body":"and so forth. They were quite"},{"speaker":"Nick Lincoln","startTime":998.24,"endTime":1000.52,"body":"aggressive about that, and quite"},{"speaker":"Nick Lincoln","startTime":1000.52,"endTime":1003.48,"body":"aggressive about one point, 1.8"},{"speaker":"Nick Lincoln","startTime":1000.52,"endTime":1003.48,"body":"or something, one point, yeah,"},{"speaker":"Nick Lincoln","startTime":1003.66,"endTime":1006.3,"body":"but they didn't, as I recall,"},{"speaker":"Nick Lincoln","startTime":1003.66,"endTime":1006.3,"body":"push back on the private equity"},{"speaker":"Nick Lincoln","startTime":1006.3,"endTime":1009.06,"body":"thing, which, which perhaps they"},{"speaker":"Nick Lincoln","startTime":1006.3,"endTime":1009.06,"body":"could have done. That's a good"},{"speaker":"Nick Lincoln","startTime":1009.06,"endTime":1010.02,"body":"podcast. Travis to"},{"speaker":"Andy Hart","startTime":1010.32,"endTime":1014.1,"body":"next, don't allocate"},{"speaker":"Andy Hart","startTime":1010.32,"endTime":1014.1,"body":"any money to private equity."},{"speaker":"Andy Hart","startTime":1014.1,"endTime":1016.74,"body":"They don't current, they don't"},{"speaker":"Andy Hart","startTime":1014.1,"endTime":1016.74,"body":"currently allocate any there for"},{"speaker":"Andy Hart","startTime":1016.74,"endTime":1019.92,"body":"45 billion to private equity,"},{"speaker":"Andy Hart","startTime":1016.74,"endTime":1019.92,"body":"though, that wasn't clear. Okay,"},{"speaker":"Andy Hart","startTime":1019.92,"endTime":1020.88,"body":"no, then"},{"speaker":"Nick Lincoln","startTime":1020.88,"endTime":1022.34,"body":"no, no, they're"},{"speaker":"Nick Lincoln","startTime":1020.88,"endTime":1022.34,"body":"thinking about it. That's right,"},{"speaker":"Nick Lincoln","startTime":1022.34,"endTime":1024.32,"body":"that's right. Okay, fine. No,"},{"speaker":"Nick Lincoln","startTime":1022.34,"endTime":1024.32,"body":"no, it's definitely. They're"},{"speaker":"Nick Lincoln","startTime":1024.32,"endTime":1026.48,"body":"not. They're not doing not doing"},{"speaker":"Nick Lincoln","startTime":1024.32,"endTime":1026.48,"body":"it, but they are think about,"},{"speaker":"Nick Lincoln","startTime":1026.48,"endTime":1029.12,"body":"okay, well, on a similar vein,"},{"speaker":"Nick Lincoln","startTime":1026.48,"endTime":1029.12,"body":"maybe move on to the third topic"},{"speaker":"Nick Lincoln","startTime":1029.12,"endTime":1031.94,"body":"or two bit, because this is"},{"speaker":"Nick Lincoln","startTime":1029.12,"endTime":1031.94,"body":"another company saying no to a"},{"speaker":"Nick Lincoln","startTime":1031.94,"endTime":1035.36,"body":"very in trend. It's not an asset"},{"speaker":"Nick Lincoln","startTime":1031.94,"endTime":1035.36,"body":"class, it's a currency. But"},{"speaker":"Nick Lincoln","startTime":1035.36,"endTime":1037.88,"body":"basically, the head of Van No."},{"speaker":"Nick Lincoln","startTime":1035.36,"endTime":1037.88,"body":"So not the head of Vanguard, but"},{"speaker":"Nick Lincoln","startTime":1037.88,"endTime":1040.1,"body":"a high up person at Vanguard."},{"speaker":"Nick Lincoln","startTime":1037.88,"endTime":1040.1,"body":"Now, this person's name is"},{"speaker":"Nick Lincoln","startTime":1040.1,"endTime":1043.6,"body":"Janelle Jackson, not Janet"},{"speaker":"Nick Lincoln","startTime":1040.1,"endTime":1043.6,"body":"Jackson, but Janelle j, A, N, E,"},{"speaker":"Nick Lincoln","startTime":1043.6,"endTime":1046.84,"body":"L, I'm not sure if that's a lady"},{"speaker":"Nick Lincoln","startTime":1043.6,"endTime":1046.84,"body":"or a man. I guess it's a female."},{"speaker":"Nick Lincoln","startTime":1047.08,"endTime":1049.78,"body":"This lady Janelle Jackson. She's"},{"speaker":"Nick Lincoln","startTime":1047.08,"endTime":1049.78,"body":"Global Head of ETF capital"},{"speaker":"Nick Lincoln","startTime":1049.78,"endTime":1054.64,"body":"markets and broker and index"},{"speaker":"Nick Lincoln","startTime":1049.78,"endTime":1054.64,"body":"relations@vanguard.com and in"},{"speaker":"Nick Lincoln","startTime":1054.64,"endTime":1057.76,"body":"this long Vanguard article on"},{"speaker":"Nick Lincoln","startTime":1054.64,"endTime":1057.76,"body":"the Vanguard corporate website,"},{"speaker":"Nick Lincoln","startTime":1057.76,"endTime":1061.62,"body":"they basically say we are not"},{"speaker":"Nick Lincoln","startTime":1057.76,"endTime":1061.62,"body":"doing bit Bitcoin or crypto."},{"speaker":"Nick Lincoln","startTime":1061.62,"endTime":1064.08,"body":"It's quite a long article, but"},{"speaker":"Nick Lincoln","startTime":1061.62,"endTime":1064.08,"body":"there's one, one line from the"},{"speaker":"Nick Lincoln","startTime":1064.08,"endTime":1066.48,"body":"article, which, which resonated"},{"speaker":"Nick Lincoln","startTime":1064.08,"endTime":1066.48,"body":"with me. I know you obviously,"},{"speaker":"Nick Lincoln","startTime":1066.48,"endTime":1068.88,"body":"you know, you read stuff that"},{"speaker":"Nick Lincoln","startTime":1066.48,"endTime":1068.88,"body":"validates your own opinions a"},{"speaker":"Nick Lincoln","startTime":1068.88,"endTime":1072.24,"body":"lot of the time. But quote, in"},{"speaker":"Nick Lincoln","startTime":1068.88,"endTime":1072.24,"body":"Vanguard's view, crypto is more"},{"speaker":"Nick Lincoln","startTime":1072.24,"endTime":1076.92,"body":"of a speculation than an"},{"speaker":"Nick Lincoln","startTime":1072.24,"endTime":1076.92,"body":"investment. End quote, you know,"},{"speaker":"Nick Lincoln","startTime":1076.92,"endTime":1080.22,"body":"which? Which coming from a brand"},{"speaker":"Nick Lincoln","startTime":1076.92,"endTime":1080.22,"body":"as powerful and as and as"},{"speaker":"Nick Lincoln","startTime":1080.76,"endTime":1083.9,"body":"dominating as Vanguard"},{"speaker":"Nick Lincoln","startTime":1080.76,"endTime":1083.9,"body":"historically has been certainly,"},{"speaker":"Nick Lincoln","startTime":1083.9,"endTime":1087.08,"body":"I think that's quite a from my"},{"speaker":"Nick Lincoln","startTime":1083.9,"endTime":1087.08,"body":"point of view, a refreshing, a"},{"speaker":"Nick Lincoln","startTime":1087.08,"endTime":1089.54,"body":"refreshing starts to take them,"},{"speaker":"Nick Lincoln","startTime":1087.08,"endTime":1089.54,"body":"to be that honest about it,"},{"speaker":"Nick Lincoln","startTime":1089.66,"endTime":1092.0,"body":"because obviously they're going"},{"speaker":"Nick Lincoln","startTime":1089.66,"endTime":1092.0,"body":"to miss out on a big bit of"},{"speaker":"Nick Lincoln","startTime":1092.0,"endTime":1095.48,"body":"that, that ETF Bitcoin. Slice"},{"speaker":"Nick Lincoln","startTime":1092.0,"endTime":1095.48,"body":"any thoughts about that?"},{"speaker":"Carl Widger","startTime":1097.52,"endTime":1100.6,"body":"No, I might just"},{"speaker":"Carl Widger","startTime":1097.52,"endTime":1100.6,"body":"kind of slide into the next"},{"speaker":"Carl Widger","startTime":1100.6,"endTime":1104.56,"body":"part, the next up until, because"},{"speaker":"Carl Widger","startTime":1100.6,"endTime":1104.56,"body":"they're connected. Nick, I will"},{"speaker":"Alan Smith","startTime":1104.62,"endTime":1108.64,"body":"let me then just"},{"speaker":"Alan Smith","startTime":1104.62,"endTime":1108.64,"body":"Yeah, so that that that's fine."},{"speaker":"Alan Smith","startTime":1108.64,"endTime":1112.72,"body":"That's a, kind of, almost a an"},{"speaker":"Alan Smith","startTime":1108.64,"endTime":1112.72,"body":"ethical or a moral stance that"},{"speaker":"Alan Smith","startTime":1112.72,"endTime":1115.78,"body":"they and vanguard of all you"},{"speaker":"Alan Smith","startTime":1112.72,"endTime":1115.78,"body":"know, they remain a mutual"},{"speaker":"Alan Smith","startTime":1115.78,"endTime":1120.06,"body":"company. They're kind of for the"},{"speaker":"Alan Smith","startTime":1115.78,"endTime":1120.06,"body":"they're far less, I would say, a"},{"speaker":"Alan Smith","startTime":1120.06,"endTime":1123.9,"body":"commercially aggressive beast"},{"speaker":"Alan Smith","startTime":1120.06,"endTime":1123.9,"body":"than the bigger fund manager in"},{"speaker":"Alan Smith","startTime":1123.9,"endTime":1128.28,"body":"the world called BlackRock, who"},{"speaker":"Alan Smith","startTime":1123.9,"endTime":1128.28,"body":"are all in on Bitcoin and"},{"speaker":"Alan Smith","startTime":1128.28,"endTime":1129.12,"body":"Bitcoin ETFs,"},{"speaker":"Alan Smith","startTime":1137.58,"endTime":1141.8,"body":"who've clearly taken a different"},{"speaker":"Alan Smith","startTime":1137.58,"endTime":1141.8,"body":"stance and seem to understand"},{"speaker":"Alan Smith","startTime":1141.8,"endTime":1145.64,"body":"more of the the underlying"},{"speaker":"Alan Smith","startTime":1141.8,"endTime":1145.64,"body":"issue. But Blackrock always, in"},{"speaker":"Alan Smith","startTime":1145.64,"endTime":1149.36,"body":"my opinion, are they've got an"},{"speaker":"Alan Smith","startTime":1145.64,"endTime":1149.36,"body":"eye for the main chance."},{"speaker":"Alan Smith","startTime":1149.36,"endTime":1152.66,"body":"BlackRock jumped on the ESG"},{"speaker":"Alan Smith","startTime":1149.36,"endTime":1152.66,"body":"bandwagon in a big way. And I've"},{"speaker":"Alan Smith","startTime":1152.66,"endTime":1154.88,"body":"noticed they've jumped off it."},{"speaker":"Alan Smith","startTime":1152.66,"endTime":1154.88,"body":"They're all jumping off it"},{"speaker":"Alan Smith","startTime":1154.88,"endTime":1158.72,"body":"recently, and they are all in"},{"speaker":"Alan Smith","startTime":1154.88,"endTime":1158.72,"body":"now. They've got a replacement"},{"speaker":"Alan Smith","startTime":1158.72,"endTime":1162.64,"body":"one called Bitcoin. I would just"},{"speaker":"Alan Smith","startTime":1158.72,"endTime":1162.64,"body":"say one thing. I mean, probably"},{"speaker":"Alan Smith","startTime":1162.64,"endTime":1165.82,"body":"we'll come back to this later on"},{"speaker":"Alan Smith","startTime":1162.64,"endTime":1165.82,"body":"in the show, and as we go, I"},{"speaker":"Alan Smith","startTime":1166.3,"endTime":1169.66,"body":"would say there is a there is a"},{"speaker":"Alan Smith","startTime":1166.3,"endTime":1169.66,"body":"difference between Bitcoin and"},{"speaker":"Alan Smith","startTime":1169.66,"endTime":1173.44,"body":"crypto. Bitcoin would not see"},{"speaker":"Alan Smith","startTime":1169.66,"endTime":1173.44,"body":"itself as a subsidiary part of"},{"speaker":"Alan Smith","startTime":1173.44,"endTime":1176.8,"body":"crypto. Crypto and all these"},{"speaker":"Alan Smith","startTime":1173.44,"endTime":1176.8,"body":"crazy tokens and coins and Trump"},{"speaker":"Alan Smith","startTime":1176.8,"endTime":1180.42,"body":"mean coins and stuff is a"},{"speaker":"Alan Smith","startTime":1176.8,"endTime":1180.42,"body":"different animal, but Vanguard"},{"speaker":"Alan Smith","startTime":1180.42,"endTime":1182.88,"body":"are perfectly tied to their"},{"speaker":"Alan Smith","startTime":1180.42,"endTime":1182.88,"body":"opinion, and that's fine, and"},{"speaker":"Alan Smith","startTime":1182.88,"endTime":1185.4,"body":"they would. They certainly would"},{"speaker":"Alan Smith","startTime":1182.88,"endTime":1185.4,"body":"have lost out significant future"},{"speaker":"Alan Smith","startTime":1185.4,"endTime":1188.88,"body":"revenue by avoiding that asset"},{"speaker":"Alan Smith","startTime":1185.4,"endTime":1188.88,"body":"class. But yes,"},{"speaker":"Carl Widger","startTime":1190.5,"endTime":1193.86,"body":"an interesting"},{"speaker":"Carl Widger","startTime":1190.5,"endTime":1193.86,"body":"quote from Larry Fink of"},{"speaker":"Carl Widger","startTime":1193.86,"endTime":1198.6,"body":"Blackrock, he previously"},{"speaker":"Carl Widger","startTime":1193.86,"endTime":1198.6,"body":"referred to Bitcoin as an index"},{"speaker":"Carl Widger","startTime":1198.66,"endTime":1202.7,"body":"of money laundering. Like today."},{"speaker":"Carl Widger","startTime":1198.66,"endTime":1202.7,"body":"He sees it as a legitimate"},{"speaker":"Carl Widger","startTime":1202.7,"endTime":1204.02,"body":"financial instrument."},{"speaker":"Andy Hart","startTime":1207.02,"endTime":1210.14,"body":"Yeah, there you go."},{"speaker":"Andy Hart","startTime":1207.02,"endTime":1210.14,"body":"To be fair, you can change your"},{"speaker":"Andy Hart","startTime":1210.14,"endTime":1211.64,"body":"mind, which is, you"},{"speaker":"Carl Widger","startTime":1211.64,"endTime":1213.38,"body":"can change your"},{"speaker":"Carl Widger","startTime":1211.64,"endTime":1213.38,"body":"mind, but you can't change,"},{"speaker":"Carl Widger","startTime":1213.5,"endTime":1217.58,"body":"can't change your values. And"},{"speaker":"Carl Widger","startTime":1213.5,"endTime":1217.58,"body":"this is one of the greed things"},{"speaker":"Carl Widger","startTime":1217.58,"endTime":1219.62,"body":"that is really speaking into."},{"speaker":"Andy Hart","startTime":1220.1,"endTime":1222.28,"body":"I'd say he's changed"},{"speaker":"Andy Hart","startTime":1220.1,"endTime":1222.28,"body":"his mind. There not his values."},{"speaker":"Andy Hart","startTime":1222.52,"endTime":1223.78,"body":"I don't know. Does"},{"speaker":"Carl Widger","startTime":1223.78,"endTime":1225.82,"body":"that man have any"},{"speaker":"Carl Widger","startTime":1223.78,"endTime":1225.82,"body":"values? But anyway, there goes"},{"speaker":"Nick Lincoln","startTime":1227.38,"endTime":1229.48,"body":"the sponsorship"},{"speaker":"Nick Lincoln","startTime":1227.38,"endTime":1229.48,"body":"for BlackRock. Yeah,"},{"speaker":"Alan Smith","startTime":1230.08,"endTime":1233.38,"body":"inbound from legal"},{"speaker":"Alan Smith","startTime":1230.08,"endTime":1233.38,"body":"letters. Yeah,"},{"speaker":"Carl Widger","startTime":1233.38,"endTime":1236.56,"body":"no, I guys, this"},{"speaker":"Carl Widger","startTime":1233.38,"endTime":1236.56,"body":"whole cryptocurrency thing has"},{"speaker":"Carl Widger","startTime":1236.56,"endTime":1239.5,"body":"gone bananas. And if people"},{"speaker":"Carl Widger","startTime":1236.56,"endTime":1239.5,"body":"can't see that, this is the"},{"speaker":"Carl Widger","startTime":1239.5,"endTime":1241.32,"body":"greatest bubble of all time."},{"speaker":"Nick Lincoln","startTime":1241.92,"endTime":1245.28,"body":"Totally with you,"},{"speaker":"Nick Lincoln","startTime":1241.92,"endTime":1245.28,"body":"totally, right?"},{"speaker":"Carl Widger","startTime":1245.28,"endTime":1247.8,"body":"So I've shared two"},{"speaker":"Carl Widger","startTime":1245.28,"endTime":1247.8,"body":"things that will be in the show"},{"speaker":"Carl Widger","startTime":1247.8,"endTime":1249.84,"body":"notes. First of all, is"},{"speaker":"Carl Widger","startTime":1247.8,"endTime":1249.84,"body":"something that came across my"},{"speaker":"Carl Widger","startTime":1249.84,"endTime":1253.56,"body":"LinkedIn feed from Coinbase"},{"speaker":"Carl Widger","startTime":1249.84,"endTime":1253.56,"body":"asset management, and I'm gonna"},{"speaker":"Carl Widger","startTime":1253.56,"endTime":1256.38,"body":"read a couple of things now, so"},{"speaker":"Carl Widger","startTime":1253.56,"endTime":1256.38,"body":"just forgive me, right? So they"},{"speaker":"Carl Widger","startTime":1256.38,"endTime":1261.26,"body":"all goggles have to go on for"},{"speaker":"Carl Widger","startTime":1256.38,"endTime":1261.26,"body":"this Coinbase on their LinkedIn"},{"speaker":"Carl Widger","startTime":1261.26,"endTime":1265.64,"body":"post, we believe the future of"},{"speaker":"Carl Widger","startTime":1261.26,"endTime":1265.64,"body":"finance is on chain. Maximum"},{"speaker":"Carl Widger","startTime":1265.64,"endTime":1269.18,"body":"efficiencies will happen with"},{"speaker":"Carl Widger","startTime":1265.64,"endTime":1269.18,"body":"technological adoption when"},{"speaker":"Carl Widger","startTime":1269.18,"endTime":1273.32,"body":"assets are natively digital and"},{"speaker":"Carl Widger","startTime":1269.18,"endTime":1273.32,"body":"create and credit lives on"},{"speaker":"Carl Widger","startTime":1273.32,"endTime":1276.98,"body":"chain. The opportunity to work"},{"speaker":"Carl Widger","startTime":1273.32,"endTime":1276.98,"body":"with Apollo Global Management"},{"speaker":"Carl Widger","startTime":1276.98,"endTime":1280.66,"body":"Inc, and securitize and invest"},{"speaker":"Carl Widger","startTime":1276.98,"endTime":1280.66,"body":"in their tokenized fund is an"},{"speaker":"Carl Widger","startTime":1280.66,"endTime":1285.28,"body":"exciting leap forward. Okay, I"},{"speaker":"Carl Widger","startTime":1280.66,"endTime":1285.28,"body":"have no idea what that meant."},{"speaker":"Carl Widger","startTime":1285.76,"endTime":1289.6,"body":"And then I absolutely none at"},{"speaker":"Carl Widger","startTime":1285.76,"endTime":1289.6,"body":"all. And like, nobody should"},{"speaker":"Carl Widger","startTime":1289.6,"endTime":1292.36,"body":"know what that means, because"},{"speaker":"Carl Widger","startTime":1289.6,"endTime":1292.36,"body":"that makes no bloody sense"},{"speaker":"Carl Widger","startTime":1292.36,"endTime":1298.0,"body":"whatsoever. Word challenge. And"},{"speaker":"Carl Widger","startTime":1292.36,"endTime":1298.0,"body":"then there's, there's a podcast"},{"speaker":"Carl Widger","startTime":1298.84,"endTime":1307.02,"body":"from two folks who interviewed"},{"speaker":"Carl Widger","startTime":1298.84,"endTime":1307.02,"body":"Eugene Fama. Now, this is about"},{"speaker":"Carl Widger","startTime":1307.02,"endTime":1311.1,"body":"cryptocurrency, and Eugene Fama"},{"speaker":"Carl Widger","startTime":1307.02,"endTime":1311.1,"body":"widely considered the father of"},{"speaker":"Carl Widger","startTime":1311.1,"endTime":1314.76,"body":"modern finance, as we would know"},{"speaker":"Carl Widger","startTime":1311.1,"endTime":1314.76,"body":"because he's involved with"},{"speaker":"Carl Widger","startTime":1314.76,"endTime":1319.62,"body":"dimensional predicts Bitcoin"},{"speaker":"Carl Widger","startTime":1314.76,"endTime":1319.62,"body":"will go to zero within 10 years."},{"speaker":"Carl Widger","startTime":1319.86,"endTime":1322.58,"body":"Now, I will say that"},{"speaker":"Unknown","startTime":1323.18,"endTime":1327.56,"body":"prediction. I think"},{"speaker":"Unknown","startTime":1323.18,"endTime":1327.56,"body":"that. But what do I know?"},{"speaker":"Carl Widger","startTime":1328.94,"endTime":1333.92,"body":"Maybe he could put"},{"speaker":"Carl Widger","startTime":1328.94,"endTime":1333.92,"body":"across his views a little more"},{"speaker":"Carl Widger","startTime":1333.92,"endTime":1338.6,"body":"humbly in the podcast, right? So"},{"speaker":"Carl Widger","startTime":1333.92,"endTime":1338.6,"body":"I will say that. But if you"},{"speaker":"Carl Widger","startTime":1338.6,"endTime":1342.4,"body":"actually go on to this podcast,"},{"speaker":"Carl Widger","startTime":1338.6,"endTime":1342.4,"body":"link in the show notes and read"},{"speaker":"Carl Widger","startTime":1342.46,"endTime":1347.44,"body":"the summary of the actual"},{"speaker":"Carl Widger","startTime":1342.46,"endTime":1347.44,"body":"podcast. There's some absolute"},{"speaker":"Carl Widger","startTime":1347.44,"endTime":1351.04,"body":"gold in there. Legendary"},{"speaker":"Carl Widger","startTime":1347.44,"endTime":1351.04,"body":"investor Ray Dalio called crypto"},{"speaker":"Carl Widger","startTime":1351.1,"endTime":1354.58,"body":"a bubble a decade ago now. He"},{"speaker":"Carl Widger","startTime":1351.1,"endTime":1354.58,"body":"calls us one hell of an"},{"speaker":"Carl Widger","startTime":1354.58,"endTime":1355.06,"body":"invention."},{"speaker":"Nick Lincoln","startTime":1355.24,"endTime":1357.76,"body":"He's another one."},{"speaker":"Nick Lincoln","startTime":1355.24,"endTime":1357.76,"body":"He's another I read"},{"speaker":"Carl Widger","startTime":1357.76,"endTime":1362.64,"body":"the Larry fail to"},{"speaker":"Carl Widger","startTime":1357.76,"endTime":1362.64,"body":"change and less than 36 hours"},{"speaker":"Carl Widger","startTime":1362.64,"endTime":1365.1,"body":"after launching his own"},{"speaker":"Carl Widger","startTime":1362.64,"endTime":1365.1,"body":"cryptocurrency, before his"},{"speaker":"Carl Widger","startTime":1365.1,"endTime":1369.42,"body":"second inauguration, President"},{"speaker":"Carl Widger","startTime":1365.1,"endTime":1369.42,"body":"Trump appeared to have made more"},{"speaker":"Carl Widger","startTime":1369.42,"endTime":1376.14,"body":"than 50 billion on paper for"},{"speaker":"Carl Widger","startTime":1369.42,"endTime":1376.14,"body":"himself and his companies during"},{"speaker":"Carl Widger","startTime":1376.14,"endTime":1379.8,"body":"his first term, Trump called"},{"speaker":"Carl Widger","startTime":1376.14,"endTime":1379.8,"body":"crypto not money whose value is"},{"speaker":"Carl Widger","startTime":1379.8,"endTime":1385.7,"body":"highly volatile and based on"},{"speaker":"Carl Widger","startTime":1379.8,"endTime":1385.7,"body":"thin air. So I just think that"},{"speaker":"Carl Widger","startTime":1385.76,"endTime":1390.2,"body":"there's so many people getting"},{"speaker":"Carl Widger","startTime":1385.76,"endTime":1390.2,"body":"absolutely and utterly carried"},{"speaker":"Carl Widger","startTime":1390.2,"endTime":1393.44,"body":"away with this thing. I'm not"},{"speaker":"Carl Widger","startTime":1390.2,"endTime":1393.44,"body":"sure it'll go to zero. I think"},{"speaker":"Carl Widger","startTime":1393.44,"endTime":1399.08,"body":"that's probably too harsh of a"},{"speaker":"Carl Widger","startTime":1393.44,"endTime":1399.08,"body":"prediction, but I think the more"},{"speaker":"Carl Widger","startTime":1399.08,"endTime":1403.96,"body":"and more I read about this stuff"},{"speaker":"Carl Widger","startTime":1399.08,"endTime":1403.96,"body":"the more and more, the first"},{"speaker":"Carl Widger","startTime":1403.96,"endTime":1407.32,"body":"quote I read out like I haven't"},{"speaker":"Carl Widger","startTime":1403.96,"endTime":1407.32,"body":"a clue what's happening here. I"},{"speaker":"Carl Widger","startTime":1407.32,"endTime":1410.02,"body":"just don't have a clue what's"},{"speaker":"Carl Widger","startTime":1407.32,"endTime":1410.02,"body":"happening here. But you talk to"},{"speaker":"Carl Widger","startTime":1410.02,"endTime":1413.2,"body":"me about Vanguard life"},{"speaker":"Carl Widger","startTime":1410.02,"endTime":1413.2,"body":"strategies, and all day long, I"},{"speaker":"Carl Widger","startTime":1413.68,"endTime":1417.52,"body":"can understand it, I can"},{"speaker":"Carl Widger","startTime":1413.68,"endTime":1417.52,"body":"recommend it, and I am confident"},{"speaker":"Carl Widger","startTime":1417.52,"endTime":1420.36,"body":"that my clients will make money"},{"speaker":"Carl Widger","startTime":1417.52,"endTime":1420.36,"body":"out of it in the long term."},{"speaker":"Carl Widger","startTime":1420.66,"endTime":1424.2,"body":"There's no possibility that you"},{"speaker":"Carl Widger","startTime":1420.66,"endTime":1424.2,"body":"can lose all of your money by"},{"speaker":"Carl Widger","startTime":1424.2,"endTime":1428.16,"body":"investing in Vanguard life"},{"speaker":"Carl Widger","startTime":1424.2,"endTime":1428.16,"body":"strategies or something similar"},{"speaker":"Carl Widger","startTime":1428.52,"endTime":1432.12,"body":"with cryptocurrency. You see the"},{"speaker":"Carl Widger","startTime":1428.52,"endTime":1432.12,"body":"volatility every single day. At"},{"speaker":"Carl Widger","startTime":1432.12,"endTime":1435.54,"body":"the moment, it is absolutely"},{"speaker":"Carl Widger","startTime":1432.12,"endTime":1435.54,"body":"crazy. What Trump did was an"},{"speaker":"Carl Widger","startTime":1435.6,"endTime":1440.58,"body":"absolute disgrace. What they're"},{"speaker":"Carl Widger","startTime":1435.6,"endTime":1440.58,"body":"all doing is absolutely"},{"speaker":"Carl Widger","startTime":1440.76,"endTime":1441.56,"body":"disgraceful."},{"speaker":"Alan Smith","startTime":1441.68,"endTime":1446.06,"body":"TDs, you should get"},{"speaker":"Alan Smith","startTime":1441.68,"endTime":1446.06,"body":"off the fence. Carl, really see"},{"speaker":"Alan Smith","startTime":1446.06,"endTime":1446.84,"body":"capital, isn't"},{"speaker":"Nick Lincoln","startTime":1446.84,"endTime":1449.06,"body":"it's the name of"},{"speaker":"Nick Lincoln","startTime":1446.84,"endTime":1449.06,"body":"the podcast, isn't it? Yeah,"},{"speaker":"Unknown","startTime":1450.2,"endTime":1450.98,"body":"I'm going to"},{"speaker":"Alan Smith","startTime":1452.24,"endTime":1455.3,"body":"mention this later"},{"speaker":"Alan Smith","startTime":1452.24,"endTime":1455.3,"body":"on in this podcast. This, this"},{"speaker":"Alan Smith","startTime":1455.3,"endTime":1457.76,"body":"is going to be a little bit of a"},{"speaker":"Alan Smith","startTime":1455.3,"endTime":1457.76,"body":"recurring theme, and it will"},{"speaker":"Alan Smith","startTime":1457.76,"endTime":1460.6,"body":"come out. And I would just"},{"speaker":"Alan Smith","startTime":1457.76,"endTime":1460.6,"body":"repeat that thing. Don't"},{"speaker":"Alan Smith","startTime":1460.6,"endTime":1464.74,"body":"conflate Bitcoin with Trump"},{"speaker":"Alan Smith","startTime":1460.6,"endTime":1464.74,"body":"coins and meme coins and shit"},{"speaker":"Alan Smith","startTime":1464.74,"endTime":1469.0,"body":"tokens and all that stuff. It is"},{"speaker":"Alan Smith","startTime":1464.74,"endTime":1469.0,"body":"a different technology. No. And"},{"speaker":"Alan Smith","startTime":1469.36,"endTime":1474.76,"body":"so I we just need to understand."},{"speaker":"Alan Smith","startTime":1469.36,"endTime":1474.76,"body":"Is the key thing right now. I"},{"speaker":"Alan Smith","startTime":1474.76,"endTime":1478.48,"body":"enter this whole thing from a"},{"speaker":"Alan Smith","startTime":1474.76,"endTime":1478.48,"body":"spirit of curiosity to say, Hmm,"},{"speaker":"Alan Smith","startTime":1478.84,"endTime":1483.48,"body":"what does this mean? What is the"},{"speaker":"Alan Smith","startTime":1478.84,"endTime":1483.48,"body":"whole framework that exists? And"},{"speaker":"Alan Smith","startTime":1483.48,"endTime":1487.86,"body":"you and you could say that the"},{"speaker":"Alan Smith","startTime":1483.48,"endTime":1487.86,"body":"exactly the same thing. It's all"},{"speaker":"Alan Smith","startTime":1487.86,"endTime":1492.42,"body":"built on nothing, the British"},{"speaker":"Alan Smith","startTime":1487.86,"endTime":1492.42,"body":"pound, the euro, the dollar."},{"speaker":"Alan Smith","startTime":1492.54,"endTime":1496.86,"body":"What's that? What's that built"},{"speaker":"Alan Smith","startTime":1492.54,"endTime":1496.86,"body":"upon? There is an endless supply"},{"speaker":"Alan Smith","startTime":1496.92,"endTime":1501.62,"body":"trust and governments and, you"},{"speaker":"Alan Smith","startTime":1496.92,"endTime":1501.62,"body":"know, whatever. It's just you"},{"speaker":"Alan Smith","startTime":1501.62,"endTime":1504.08,"body":"could, you could level the same"},{"speaker":"Alan Smith","startTime":1501.62,"endTime":1504.08,"body":"thing about a lot of all"},{"speaker":"Alan Smith","startTime":1504.08,"endTime":1505.46,"body":"currencies, all Central."},{"speaker":"Carl Widger","startTime":1505.46,"endTime":1508.7,"body":"I like what you"},{"speaker":"Carl Widger","startTime":1505.46,"endTime":1508.7,"body":"said there Alan. I do and and"},{"speaker":"Carl Widger","startTime":1508.7,"endTime":1513.44,"body":"it's very, very valid. My issue"},{"speaker":"Carl Widger","startTime":1508.7,"endTime":1513.44,"body":"here is that they're all they"},{"speaker":"Carl Widger","startTime":1513.44,"endTime":1516.92,"body":"are being conflated, and people"},{"speaker":"Carl Widger","startTime":1513.44,"endTime":1516.92,"body":"are investing in things that"},{"speaker":"Carl Widger","startTime":1516.92,"endTime":1519.86,"body":"they do not understand because"},{"speaker":"Carl Widger","startTime":1516.92,"endTime":1519.86,"body":"they think they're investing in"},{"speaker":"Carl Widger","startTime":1520.22,"endTime":1525.04,"body":"Bitcoin, for example, or"},{"speaker":"Carl Widger","startTime":1520.22,"endTime":1525.04,"body":"Ethereum, and they're not, and"},{"speaker":"Carl Widger","startTime":1525.1,"endTime":1530.5,"body":"there's, you know, like, so if a"},{"speaker":"Carl Widger","startTime":1525.1,"endTime":1530.5,"body":"client reads out that thing to"},{"speaker":"Carl Widger","startTime":1530.5,"endTime":1533.26,"body":"you, you're kind of going, I"},{"speaker":"Carl Widger","startTime":1530.5,"endTime":1533.26,"body":"don't really understand that."},{"speaker":"Carl Widger","startTime":1533.26,"endTime":1536.68,"body":"That just please, please,"},{"speaker":"Carl Widger","startTime":1533.26,"endTime":1536.68,"body":"everybody, please, every single"},{"speaker":"Carl Widger","startTime":1536.68,"endTime":1539.5,"body":"financial planner out there,"},{"speaker":"Carl Widger","startTime":1536.68,"endTime":1539.5,"body":"just say to your clients having"},{"speaker":"Carl Widger","startTime":1539.5,"endTime":1541.86,"body":"a clue what that means, that's"},{"speaker":"Carl Widger","startTime":1539.5,"endTime":1541.86,"body":"actually a load of old shit,"},{"speaker":"Carl Widger","startTime":1541.86,"endTime":1546.12,"body":"because that makes no that makes"},{"speaker":"Carl Widger","startTime":1541.86,"endTime":1546.12,"body":"no sense whatsoever. But have"},{"speaker":"Carl Widger","startTime":1546.12,"endTime":1549.18,"body":"the balls to say it. Don't"},{"speaker":"Carl Widger","startTime":1546.12,"endTime":1549.18,"body":"pretend that you know what this"},{"speaker":"Carl Widger","startTime":1549.18,"endTime":1550.68,"body":"crap means when you don't say,"},{"speaker":"Nick Lincoln","startTime":1550.68,"endTime":1552.06,"body":"Yeah, saying I"},{"speaker":"Nick Lincoln","startTime":1550.68,"endTime":1552.06,"body":"don't understand is a"},{"speaker":"Nick Lincoln","startTime":1552.06,"endTime":1554.82,"body":"superpower. Just just having the"},{"speaker":"Nick Lincoln","startTime":1552.06,"endTime":1554.82,"body":"ability to say that and not try"},{"speaker":"Nick Lincoln","startTime":1554.82,"endTime":1557.4,"body":"and be the expert, yeah, don't"},{"speaker":"Nick Lincoln","startTime":1554.82,"endTime":1557.4,"body":"lose face. I don't think you"},{"speaker":"Nick Lincoln","startTime":1557.4,"endTime":1560.04,"body":"lose face if you say to someone"},{"speaker":"Nick Lincoln","startTime":1557.4,"endTime":1560.04,"body":"I don't understand it next. No"},{"speaker":"Nick Lincoln","startTime":1560.04,"endTime":1564.38,"body":"idea. No idea. Okay, right."},{"speaker":"Nick Lincoln","startTime":1560.04,"endTime":1564.38,"body":"Thanks. Thanks voice for that."},{"speaker":"Nick Lincoln","startTime":1564.38,"endTime":1568.34,"body":"So next one is me. So I think"},{"speaker":"Nick Lincoln","startTime":1564.38,"endTime":1568.34,"body":"it's me as it is me. So this"},{"speaker":"Nick Lincoln","startTime":1568.34,"endTime":1571.16,"body":"might be just dying legacy media"},{"speaker":"Nick Lincoln","startTime":1568.34,"endTime":1571.16,"body":"floating stuff out to get the"},{"speaker":"Nick Lincoln","startTime":1571.16,"endTime":1574.76,"body":"clicks. But there is up, there"},{"speaker":"Nick Lincoln","startTime":1571.16,"endTime":1574.76,"body":"is apparently there's some idea"},{"speaker":"Nick Lincoln","startTime":1574.76,"endTime":1580.84,"body":"gathering, gathering steam that"},{"speaker":"Nick Lincoln","startTime":1574.76,"endTime":1580.84,"body":"momentum UK cash ISIS are seen"},{"speaker":"Nick Lincoln","startTime":1580.84,"endTime":1583.72,"body":"by some in the wealth management"},{"speaker":"Nick Lincoln","startTime":1580.84,"endTime":1583.72,"body":"area, fund managers and so"},{"speaker":"Nick Lincoln","startTime":1583.72,"endTime":1586.84,"body":"forth, as being sort of holding"},{"speaker":"Nick Lincoln","startTime":1583.72,"endTime":1586.84,"body":"back the UK stock market, and we"},{"speaker":"Nick Lincoln","startTime":1586.84,"endTime":1589.72,"body":"should scrap cash is to get"},{"speaker":"Nick Lincoln","startTime":1586.84,"endTime":1589.72,"body":"people invest in that cash in"},{"speaker":"Nick Lincoln","startTime":1589.72,"endTime":1593.38,"body":"the UK stock market. Seems to"},{"speaker":"Nick Lincoln","startTime":1589.72,"endTime":1593.38,"body":"me, it's slightly insane. This"},{"speaker":"Nick Lincoln","startTime":1593.38,"endTime":1596.56,"body":"is also a classic example of the"},{"speaker":"Nick Lincoln","startTime":1593.38,"endTime":1596.56,"body":"problem we have in the UK and"},{"speaker":"Nick Lincoln","startTime":1596.56,"endTime":1599.44,"body":"the West. But I think really in"},{"speaker":"Nick Lincoln","startTime":1596.56,"endTime":1599.44,"body":"the UK more than anywhere. And"},{"speaker":"Nick Lincoln","startTime":1599.44,"endTime":1602.52,"body":"Douglas Murray has spoken about"},{"speaker":"Nick Lincoln","startTime":1599.44,"endTime":1602.52,"body":"this. It's our focus on second"},{"speaker":"Nick Lincoln","startTime":1602.52,"endTime":1606.48,"body":"order problems. Now, the sort of"},{"speaker":"Nick Lincoln","startTime":1602.52,"endTime":1606.48,"body":"reward example at the minute is"},{"speaker":"Nick Lincoln","startTime":1606.48,"endTime":1609.96,"body":"we have these industrial R, A,"},{"speaker":"Nick Lincoln","startTime":1606.48,"endTime":1609.96,"body":"P, E, G gangs in the north of"},{"speaker":"Nick Lincoln","startTime":1609.96,"endTime":1612.96,"body":"England. But that's not the"},{"speaker":"Nick Lincoln","startTime":1609.96,"endTime":1612.96,"body":"problem. The problem is Elon"},{"speaker":"Nick Lincoln","startTime":1612.96,"endTime":1616.02,"body":"Musk has spoken about it. And so"},{"speaker":"Nick Lincoln","startTime":1612.96,"endTime":1616.02,"body":"everything focused on Elon Musk"},{"speaker":"Nick Lincoln","startTime":1616.02,"endTime":1618.72,"body":"are not the big issue. The big"},{"speaker":"Nick Lincoln","startTime":1616.02,"endTime":1618.72,"body":"issue with our stock market"},{"speaker":"Nick Lincoln","startTime":1618.72,"endTime":1622.1,"body":"being now less than 4% of world"},{"speaker":"Nick Lincoln","startTime":1618.72,"endTime":1622.1,"body":"capitalization. It's not because"},{"speaker":"Nick Lincoln","startTime":1622.1,"endTime":1625.28,"body":"Mrs. Miggins has got 16,000"},{"speaker":"Nick Lincoln","startTime":1622.1,"endTime":1625.28,"body":"pounds in a cash ISA. It's"},{"speaker":"Nick Lincoln","startTime":1625.64,"endTime":1628.64,"body":"because we're over regulated"},{"speaker":"Nick Lincoln","startTime":1625.64,"endTime":1628.64,"body":"companies do not want to list"},{"speaker":"Nick Lincoln","startTime":1628.64,"endTime":1630.74,"body":"here for the hassle, or they are"},{"speaker":"Nick Lincoln","startTime":1628.64,"endTime":1630.74,"body":"de listing because there's too"},{"speaker":"Nick Lincoln","startTime":1630.74,"endTime":1633.56,"body":"much hassle. There's an anti"},{"speaker":"Nick Lincoln","startTime":1630.74,"endTime":1633.56,"body":"corporate, anti capitalist"},{"speaker":"Nick Lincoln","startTime":1633.56,"endTime":1636.68,"body":"mindset. We're tax de buggery."},{"speaker":"Nick Lincoln","startTime":1633.56,"endTime":1636.68,"body":"Why would you list here? But no,"},{"speaker":"Nick Lincoln","startTime":1636.68,"endTime":1639.44,"body":"the problem, apparently, is"},{"speaker":"Nick Lincoln","startTime":1636.68,"endTime":1639.44,"body":"because Mrs. Miggins has got her"},{"speaker":"Nick Lincoln","startTime":1639.44,"endTime":1641.92,"body":"money in cash ISIS, and to say"},{"speaker":"Nick Lincoln","startTime":1639.44,"endTime":1641.92,"body":"that we're going to get rid of"},{"speaker":"Nick Lincoln","startTime":1641.92,"endTime":1644.14,"body":"cash ISIS, and she's going to"},{"speaker":"Nick Lincoln","startTime":1641.92,"endTime":1644.14,"body":"put her money into"},{"speaker":"Nick Lincoln","startTime":1644.14,"endTime":1646.54,"body":"GlaxoSmithKline, and we're"},{"speaker":"Nick Lincoln","startTime":1644.14,"endTime":1646.54,"body":"somehow going to recover, you"},{"speaker":"Nick Lincoln","startTime":1646.54,"endTime":1649.06,"body":"can stop It's so insane. All"},{"speaker":"Nick Lincoln","startTime":1646.54,"endTime":1649.06,"body":"Mrs. Biggins will do is put her"},{"speaker":"Nick Lincoln","startTime":1649.06,"endTime":1651.52,"body":"money in cash still, but leave"},{"speaker":"Nick Lincoln","startTime":1649.06,"endTime":1651.52,"body":"it in a taxable account. So I'm"},{"speaker":"Nick Lincoln","startTime":1651.52,"endTime":1654.76,"body":"not sure this is, this is just"},{"speaker":"Nick Lincoln","startTime":1651.52,"endTime":1654.76,"body":"them floating a boat here. I"},{"speaker":"Nick Lincoln","startTime":1654.76,"endTime":1657.76,"body":"really hope not. Yes, there is"},{"speaker":"Nick Lincoln","startTime":1654.76,"endTime":1657.76,"body":"loads of money in cash ISIS. And"},{"speaker":"Nick Lincoln","startTime":1657.76,"endTime":1660.04,"body":"for a lot of people, that's"},{"speaker":"Nick Lincoln","startTime":1657.76,"endTime":1660.04,"body":"probably not wise, but for a lot"},{"speaker":"Nick Lincoln","startTime":1660.04,"endTime":1663.12,"body":"of people, that's probably all"},{"speaker":"Nick Lincoln","startTime":1660.04,"endTime":1663.12,"body":"they've got, and to sort of"},{"speaker":"Nick Lincoln","startTime":1663.12,"endTime":1665.58,"body":"corral them into saving, let's"},{"speaker":"Nick Lincoln","startTime":1663.12,"endTime":1665.58,"body":"save the UK stock market by"},{"speaker":"Nick Lincoln","startTime":1665.58,"endTime":1668.7,"body":"slashing regulation and taxes,"},{"speaker":"Nick Lincoln","startTime":1665.58,"endTime":1668.7,"body":"not by getting Mrs. Miggins to"},{"speaker":"Nick Lincoln","startTime":1668.7,"endTime":1671.28,"body":"put her bloody pot into the"},{"speaker":"Nick Lincoln","startTime":1668.7,"endTime":1671.28,"body":"market. There you go. There's a"},{"speaker":"Nick Lincoln","startTime":1671.28,"endTime":1671.64,"body":"rash. You"},{"speaker":"Alan Smith","startTime":1671.64,"endTime":1672.72,"body":"give yourself very"},{"speaker":"Alan Smith","startTime":1671.64,"endTime":1672.72,"body":"good,"},{"speaker":"Unknown","startTime":1672.84,"endTime":1679.14,"body":"very good. You can give"},{"speaker":"Unknown","startTime":1672.84,"endTime":1679.14,"body":"yourself around spot on. You"},{"speaker":"Alan Smith","startTime":1680.88,"endTime":1683.54,"body":"create an"},{"speaker":"Alan Smith","startTime":1680.88,"endTime":1683.54,"body":"environment which is pro"},{"speaker":"Alan Smith","startTime":1683.54,"endTime":1687.08,"body":"business and encourages people"},{"speaker":"Alan Smith","startTime":1683.54,"endTime":1687.08,"body":"to set up business, to grow"},{"speaker":"Alan Smith","startTime":1687.08,"endTime":1690.08,"body":"companies, to list them, float"},{"speaker":"Alan Smith","startTime":1687.08,"endTime":1690.08,"body":"them. You don't need to dick"},{"speaker":"Alan Smith","startTime":1690.08,"endTime":1693.56,"body":"around with ice allowance and"},{"speaker":"Alan Smith","startTime":1690.08,"endTime":1693.56,"body":"stuff. The world will flock to"},{"speaker":"Alan Smith","startTime":1693.56,"endTime":1694.22,"body":"your just,"},{"speaker":"Andy Hart","startTime":1694.22,"endTime":1697.4,"body":"just, just, yeah."},{"speaker":"Andy Hart","startTime":1694.22,"endTime":1697.4,"body":"Sorry, go on. That's it. Yeah."},{"speaker":"Andy Hart","startTime":1698.06,"endTime":1702.1,"body":"The Times also picked up on"},{"speaker":"Andy Hart","startTime":1698.06,"endTime":1702.1,"body":"this. So last year, 41 billion"},{"speaker":"Andy Hart","startTime":1702.1,"endTime":1705.94,"body":"went into cash ISIS, versus 28"},{"speaker":"Andy Hart","startTime":1702.1,"endTime":1705.94,"body":"billion into stocks and shares."},{"speaker":"Andy Hart","startTime":1705.94,"endTime":1710.2,"body":"Ices. I'm a massive fan of"},{"speaker":"Andy Hart","startTime":1705.94,"endTime":1710.2,"body":"incentives drive behavior. So if"},{"speaker":"Andy Hart","startTime":1710.2,"endTime":1713.92,"body":"they did put the ICER allowance"},{"speaker":"Andy Hart","startTime":1710.2,"endTime":1713.92,"body":"down to 5000 on cash and 25,000"},{"speaker":"Andy Hart","startTime":1714.46,"endTime":1718.18,"body":"on investments, we would see a"},{"speaker":"Andy Hart","startTime":1714.46,"endTime":1718.18,"body":"sea change. And I'm not saying"},{"speaker":"Andy Hart","startTime":1718.18,"endTime":1722.16,"body":"it's just because they're all"},{"speaker":"Andy Hart","startTime":1718.18,"endTime":1722.16,"body":"direct that money to the UK"},{"speaker":"Andy Hart","startTime":1722.16,"endTime":1726.0,"body":"stock market, but it will"},{"speaker":"Andy Hart","startTime":1722.16,"endTime":1726.0,"body":"certainly promote a saving and"},{"speaker":"Andy Hart","startTime":1726.0,"endTime":1730.14,"body":"investing culture and behavior."},{"speaker":"Andy Hart","startTime":1726.0,"endTime":1730.14,"body":"So I'm, I'm a fan of them"},{"speaker":"Andy Hart","startTime":1730.5,"endTime":1733.32,"body":"editing the numbers and"},{"speaker":"Andy Hart","startTime":1730.5,"endTime":1733.32,"body":"balancing it between each other,"},{"speaker":"Andy Hart","startTime":1733.32,"endTime":1735.96,"body":"as in, reducing the cash is a"},{"speaker":"Andy Hart","startTime":1733.32,"endTime":1735.96,"body":"limit and increasing the"},{"speaker":"Andy Hart","startTime":1735.96,"endTime":1738.9,"body":"investment investing, investing"},{"speaker":"Andy Hart","startTime":1735.96,"endTime":1738.9,"body":"isa limit. So I think that's"},{"speaker":"Andy Hart","startTime":1738.9,"endTime":1741.2,"body":"that, that's, that's, that's,"},{"speaker":"Andy Hart","startTime":1738.9,"endTime":1741.2,"body":"that's that's good news from the"},{"speaker":"Andy Hart","startTime":1741.2,"endTime":1743.84,"body":"government. But who knows what's"},{"speaker":"Andy Hart","startTime":1741.2,"endTime":1743.84,"body":"going to happen? Hockey."},{"speaker":"Nick Lincoln","startTime":1743.84,"endTime":1746.3,"body":"Docky, right?"},{"speaker":"Nick Lincoln","startTime":1743.84,"endTime":1746.3,"body":"Conscious of time and the fact"},{"speaker":"Nick Lincoln","startTime":1746.3,"endTime":1748.7,"body":"that we, we've got a guest"},{"speaker":"Nick Lincoln","startTime":1746.3,"endTime":1748.7,"body":"coming on this episode, Episode"},{"speaker":"Nick Lincoln","startTime":1748.7,"endTime":1753.02,"body":"64 of the real advisor podcast."},{"speaker":"Nick Lincoln","startTime":1748.7,"endTime":1753.02,"body":"So this is both, both the story"},{"speaker":"Nick Lincoln","startTime":1753.02,"endTime":1755.42,"body":"channel and Ultra. You're both"},{"speaker":"Nick Lincoln","startTime":1753.02,"endTime":1755.42,"body":"gonna have a stab at this one"},{"speaker":"Nick Lincoln","startTime":1755.42,"endTime":1757.88,"body":"looks like according to the"},{"speaker":"Nick Lincoln","startTime":1755.42,"endTime":1757.88,"body":"agenda, Aberdeen, selling its"},{"speaker":"Nick Lincoln","startTime":1757.88,"endTime":1758.9,"body":"financial planning arm."},{"speaker":"Unknown","startTime":1760.04,"endTime":1762.4,"body":"Allen, you get a bit"},{"speaker":"Unknown","startTime":1760.04,"endTime":1762.4,"body":"confused? Did you not pick up on"},{"speaker":"Unknown","startTime":1762.58,"endTime":1762.76,"body":"that?"},{"speaker":"Alan Smith","startTime":1762.76,"endTime":1766.0,"body":"Mate? No, I saw it."},{"speaker":"Alan Smith","startTime":1762.76,"endTime":1766.0,"body":"Okay, I saw that. You put it up"},{"speaker":"Alan Smith","startTime":1766.0,"endTime":1767.2,"body":"on the list, but he's"},{"speaker":"Unknown","startTime":1767.2,"endTime":1769.24,"body":"had a busy weekend for"},{"speaker":"Unknown","startTime":1767.2,"endTime":1769.24,"body":"you, but he's a bit of a"},{"speaker":"Unknown","startTime":1769.24,"endTime":1772.24,"body":"celebration. We're not going to"},{"speaker":"Unknown","startTime":1769.24,"endTime":1772.24,"body":"talk about it. Talk about it."},{"speaker":"Unknown","startTime":1772.36,"endTime":1773.32,"body":"What do you think about"},{"speaker":"Alan Smith","startTime":1773.32,"endTime":1774.7,"body":"this? What do you"},{"speaker":"Andy Hart","startTime":1774.7,"endTime":1776.62,"body":"think about this?"},{"speaker":"Andy Hart","startTime":1774.7,"endTime":1776.62,"body":"Enough talking about me. Let's"},{"speaker":"Andy Hart","startTime":1776.62,"endTime":1779.62,"body":"talk about you. What do you"},{"speaker":"Andy Hart","startTime":1776.62,"endTime":1779.62,"body":"think about me? Okay, so"},{"speaker":"Andy Hart","startTime":1779.62,"endTime":1783.0,"body":"Aberdeen, the old standard life"},{"speaker":"Andy Hart","startTime":1779.62,"endTime":1783.0,"body":"have put up for sale. They"},{"speaker":"Andy Hart","startTime":1783.0,"endTime":1787.14,"body":"previously, I don't know if"},{"speaker":"Andy Hart","startTime":1783.0,"endTime":1787.14,"body":"they, they bought a few"},{"speaker":"Andy Hart","startTime":1787.14,"endTime":1791.46,"body":"companies and amalgamated it,"},{"speaker":"Andy Hart","startTime":1787.14,"endTime":1791.46,"body":"and it was called 1825, that was"},{"speaker":"Andy Hart","startTime":1791.46,"endTime":1795.36,"body":"when Standard Life was founded."},{"speaker":"Andy Hart","startTime":1791.46,"endTime":1795.36,"body":"As you very well know, Alan day"},{"speaker":"Andy Hart","startTime":1795.36,"endTime":1801.14,"body":"one, and then day one is there a"},{"speaker":"Andy Hart","startTime":1795.36,"endTime":1801.14,"body":"big. He's at a big celebration"},{"speaker":"Andy Hart","startTime":1801.14,"endTime":1806.24,"body":"this weekend, Jesus Christ. And"},{"speaker":"Andy Hart","startTime":1801.14,"endTime":1806.24,"body":"then they rebranded it to"},{"speaker":"Andy Hart","startTime":1806.24,"endTime":1808.94,"body":"Aberdeen, financial planning"},{"speaker":"Andy Hart","startTime":1806.24,"endTime":1808.94,"body":"type thing. Last year, they lost"},{"speaker":"Andy Hart","startTime":1808.94,"endTime":1815.12,"body":"34 million Aberdeen is one of"},{"speaker":"Andy Hart","startTime":1808.94,"endTime":1815.12,"body":"the dying brands in our space,"},{"speaker":"Andy Hart","startTime":1815.12,"endTime":1818.18,"body":"because they're predominantly"},{"speaker":"Andy Hart","startTime":1815.12,"endTime":1818.18,"body":"make their money through active"},{"speaker":"Unknown","startTime":1818.78,"endTime":1820.78,"body":"charging. Where does"},{"speaker":"Unknown","startTime":1818.78,"endTime":1820.78,"body":"Phoenix come into all of this."},{"speaker":"Unknown","startTime":1821.44,"endTime":1822.46,"body":"That's a whole other"},{"speaker":"Alan Smith","startTime":1823.6,"endTime":1826.24,"body":"run. Standard Life,"},{"speaker":"Alan Smith","startTime":1823.6,"endTime":1826.24,"body":"sold life and pension book. Is"},{"speaker":"Alan Smith","startTime":1826.24,"endTime":1829.36,"body":"that right? Alan, I think, yes,"},{"speaker":"Alan Smith","startTime":1826.24,"endTime":1829.36,"body":"yeah, Phoenix, apparently"},{"speaker":"Alan Smith","startTime":1829.36,"endTime":1832.06,"body":"Phoenix have bought loads of"},{"speaker":"Alan Smith","startTime":1829.36,"endTime":1832.06,"body":"brand names standard life."},{"speaker":"Alan Smith","startTime":1832.06,"endTime":1834.1,"body":"That's what was really"},{"speaker":"Alan Smith","startTime":1832.06,"endTime":1834.1,"body":"confusing, because I you know,"},{"speaker":"Alan Smith","startTime":1834.1,"endTime":1838.12,"body":"the rebranded to Aberdeen, you"},{"speaker":"Alan Smith","startTime":1834.1,"endTime":1838.12,"body":"know, too much sort of Merryman"},{"speaker":"Alan Smith","startTime":1838.12,"endTime":1842.98,"body":"and mirth, because they dropped"},{"speaker":"Alan Smith","startTime":1838.12,"endTime":1842.98,"body":"the vowels. You know, stupid."},{"speaker":"Alan Smith","startTime":1843.0,"endTime":1845.94,"body":"Goals, about paid about 50"},{"speaker":"Alan Smith","startTime":1843.0,"endTime":1845.94,"body":"million pounds or some agency to"},{"speaker":"Alan Smith","startTime":1846.0,"endTime":1848.46,"body":"do this. And it was, it was met"},{"speaker":"Alan Smith","startTime":1846.0,"endTime":1848.46,"body":"with"},{"speaker":"Carl Widger","startTime":1849.54,"endTime":1855.06,"body":"standards by"},{"speaker":"Carl Widger","startTime":1849.54,"endTime":1855.06,"body":"Phoenix, yeah. So they saw"},{"speaker":"Carl Widger","startTime":1855.06,"endTime":1856.68,"body":"Aberdeen, no, no,"},{"speaker":"Alan Smith","startTime":1856.68,"endTime":1859.68,"body":"it's not as Phoenix,"},{"speaker":"Alan Smith","startTime":1856.68,"endTime":1859.68,"body":"basically. And all of a sudden,"},{"speaker":"Alan Smith","startTime":1859.68,"endTime":1862.88,"body":"nice posters or bus stops and"},{"speaker":"Alan Smith","startTime":1859.68,"endTime":1862.88,"body":"stuff, saying, Get your standard"},{"speaker":"Alan Smith","startTime":1862.88,"endTime":1865.34,"body":"life pension here. I thought,"},{"speaker":"Alan Smith","startTime":1862.88,"endTime":1865.34,"body":"hang on a minute. But it's a"},{"speaker":"Alan Smith","startTime":1865.34,"endTime":1869.0,"body":"different company who's because,"},{"speaker":"Alan Smith","startTime":1865.34,"endTime":1869.0,"body":"guess what? Actually, despite"},{"speaker":"Alan Smith","startTime":1869.0,"endTime":1872.18,"body":"everything, the standard life,"},{"speaker":"Alan Smith","startTime":1869.0,"endTime":1872.18,"body":"original brand from 1825 was"},{"speaker":"Alan Smith","startTime":1872.18,"endTime":1874.46,"body":"worth something. You know, it"},{"speaker":"Alan Smith","startTime":1872.18,"endTime":1874.46,"body":"was a listed business. It had a"},{"speaker":"Alan Smith","startTime":1874.46,"endTime":1877.34,"body":"couple of centuries of history."},{"speaker":"Alan Smith","startTime":1874.46,"endTime":1877.34,"body":"So you thought they were just,"},{"speaker":"Alan Smith","startTime":1877.34,"endTime":1879.56,"body":"you worked there, but no, they"},{"speaker":"Alan Smith","startTime":1877.34,"endTime":1879.56,"body":"didn't just drop it, like some"},{"speaker":"Alan Smith","startTime":1879.56,"endTime":1883.78,"body":"companies do. They sold it so"},{"speaker":"Alan Smith","startTime":1879.56,"endTime":1883.78,"body":"that? Well, I mean, that's sort"},{"speaker":"Alan Smith","startTime":1883.84,"endTime":1884.08,"body":"of it"},{"speaker":"Nick Lincoln","startTime":1884.2,"endTime":1887.02,"body":"was a very easy"},{"speaker":"Nick Lincoln","startTime":1884.2,"endTime":1887.02,"body":"brand for broker consultants to"},{"speaker":"Nick Lincoln","startTime":1887.02,"endTime":1894.22,"body":"flog their wares to, ifas wasn't"},{"speaker":"Nick Lincoln","startTime":1887.02,"endTime":1894.22,"body":"it once anyone could do it,"},{"speaker":"Nick Lincoln","startTime":1894.4,"endTime":1906.6,"body":"whoa. I can't see my wheelbarrow"},{"speaker":"Nick Lincoln","startTime":1894.4,"endTime":1906.6,"body":"with props signed by the week"},{"speaker":"Unknown","startTime":1907.02,"endTime":1907.32,"body":"Willie,"},{"speaker":"Nick Lincoln","startTime":1910.02,"endTime":1912.48,"body":"I was 21 and the"},{"speaker":"Nick Lincoln","startTime":1910.02,"endTime":1912.48,"body":"rest."},{"speaker":"Alan Smith","startTime":1918.18,"endTime":1922.04,"body":"Glory Days. Glory"},{"speaker":"Alan Smith","startTime":1918.18,"endTime":1922.04,"body":"Days Come on, gold plated"},{"speaker":"Alan Smith","startTime":1922.04,"endTime":1924.26,"body":"wheelbarrow walking up and down"},{"speaker":"Alan Smith","startTime":1922.04,"endTime":1924.26,"body":"the street. I think,"},{"speaker":"Nick Lincoln","startTime":1924.26,"endTime":1926.0,"body":"I think the"},{"speaker":"Nick Lincoln","startTime":1924.26,"endTime":1926.0,"body":"biggest, just to try and corral"},{"speaker":"Nick Lincoln","startTime":1926.0,"endTime":1928.46,"body":"this slightly back on, I think"},{"speaker":"Nick Lincoln","startTime":1926.0,"endTime":1928.46,"body":"the biggest story is yet again,"},{"speaker":"Nick Lincoln","startTime":1928.46,"endTime":1930.44,"body":"yet again. We're seeing this"},{"speaker":"Nick Lincoln","startTime":1928.46,"endTime":1930.44,"body":"thing with these, these firms"},{"speaker":"Nick Lincoln","startTime":1930.44,"endTime":1934.1,"body":"with big pockets buy financial"},{"speaker":"Nick Lincoln","startTime":1930.44,"endTime":1934.1,"body":"advice businesses thinking they"},{"speaker":"Nick Lincoln","startTime":1934.1,"endTime":1936.62,"body":"can somehow make money out of"},{"speaker":"Nick Lincoln","startTime":1934.1,"endTime":1936.62,"body":"them, and then three or four"},{"speaker":"Nick Lincoln","startTime":1936.62,"endTime":1940.36,"body":"years later on, they divest"},{"speaker":"Nick Lincoln","startTime":1936.62,"endTime":1940.36,"body":"them, a huge loss. Repeat. I"},{"speaker":"Nick Lincoln","startTime":1940.36,"endTime":1944.38,"body":"mean, you know, people who"},{"speaker":"Nick Lincoln","startTime":1940.36,"endTime":1944.38,"body":"climbs and this, this, we"},{"speaker":"Nick Lincoln","startTime":1944.38,"endTime":1945.34,"body":"should, we should buy"},{"speaker":"Unknown","startTime":1945.34,"endTime":1946.78,"body":"it and call it trap"},{"speaker":"Andy Hart","startTime":1947.5,"endTime":1950.92,"body":"for planning. I mean,"},{"speaker":"Andy Hart","startTime":1947.5,"endTime":1950.92,"body":"with the better job at it than"},{"speaker":"Andy Hart","startTime":1950.92,"endTime":1953.56,"body":"most of these people that you"},{"speaker":"Andy Hart","startTime":1950.92,"endTime":1953.56,"body":"know, these, these, these"},{"speaker":"Andy Hart","startTime":1953.56,"endTime":1956.86,"body":"lifetime corporate warriors that"},{"speaker":"Andy Hart","startTime":1953.56,"endTime":1956.86,"body":"take over companies because"},{"speaker":"Andy Hart","startTime":1956.86,"endTime":1958.6,"body":"they, you know, worked out on a"},{"speaker":"Andy Hart","startTime":1956.86,"endTime":1958.6,"body":"spreadsheet. Well,"},{"speaker":"Alan Smith","startTime":1958.6,"endTime":1960.66,"body":"this is a lot"},{"speaker":"Alan Smith","startTime":1958.6,"endTime":1960.66,"body":"different. This is the reality"},{"speaker":"Alan Smith","startTime":1960.66,"endTime":1964.2,"body":"and having, as Nick's just"},{"speaker":"Alan Smith","startTime":1960.66,"endTime":1964.2,"body":"reminded me through that"},{"speaker":"Alan Smith","startTime":1964.2,"endTime":1967.98,"body":"wonderful jingle, I've lived"},{"speaker":"Alan Smith","startTime":1964.2,"endTime":1967.98,"body":"both sides of it. I've lived in"},{"speaker":"Alan Smith","startTime":1967.98,"endTime":1971.88,"body":"there 14 years at that big"},{"speaker":"Alan Smith","startTime":1967.98,"endTime":1971.88,"body":"corporate bemoth. And quite"},{"speaker":"Alan Smith","startTime":1971.88,"endTime":1974.82,"body":"interesting, because when I"},{"speaker":"Alan Smith","startTime":1971.88,"endTime":1974.82,"body":"became an IFA, in my mind, I"},{"speaker":"Alan Smith","startTime":1974.82,"endTime":1977.7,"body":"thought it must be, I used to,"},{"speaker":"Alan Smith","startTime":1974.82,"endTime":1977.7,"body":"you know, call an IFA. So really"},{"speaker":"Alan Smith","startTime":1977.7,"endTime":1980.24,"body":"easy. All they do, you know,"},{"speaker":"Alan Smith","startTime":1977.7,"endTime":1980.24,"body":"they go play golf, they meet a"},{"speaker":"Alan Smith","startTime":1980.24,"endTime":1983.3,"body":"few punters, they flog a few"},{"speaker":"Alan Smith","startTime":1980.24,"endTime":1983.3,"body":"pensions. How it's not it's not"},{"speaker":"Alan Smith","startTime":1983.3,"endTime":1986.72,"body":"difficult. And I think that's"},{"speaker":"Alan Smith","startTime":1983.3,"endTime":1986.72,"body":"there's a degree of the mindset"},{"speaker":"Alan Smith","startTime":1986.72,"endTime":1989.84,"body":"that exists in corporate life"},{"speaker":"Alan Smith","startTime":1986.72,"endTime":1989.84,"body":"that, you know, they've got all"},{"speaker":"Alan Smith","startTime":1989.84,"endTime":1992.54,"body":"the systems and structures and"},{"speaker":"Alan Smith","startTime":1989.84,"endTime":1992.54,"body":"processes, and they go, Well, we"},{"speaker":"Alan Smith","startTime":1992.54,"endTime":1995.96,"body":"can just all we need now is to"},{"speaker":"Alan Smith","startTime":1992.54,"endTime":1995.96,"body":"take control of distribution, as"},{"speaker":"Alan Smith","startTime":1995.96,"endTime":1998.06,"body":"they call it. And that's a whole"},{"speaker":"Alan Smith","startTime":1995.96,"endTime":1998.06,"body":"other story. I hate how they"},{"speaker":"Alan Smith","startTime":1998.06,"endTime":2000.36,"body":"call it distribution, because"},{"speaker":"Alan Smith","startTime":1998.06,"endTime":2000.36,"body":"it'll be a lot more than"},{"speaker":"Alan Smith","startTime":2000.36,"endTime":2003.18,"body":"distribute, but that's the idea,"},{"speaker":"Alan Smith","startTime":2000.36,"endTime":2003.18,"body":"you see. So they do it, and"},{"speaker":"Alan Smith","startTime":2003.18,"endTime":2006.24,"body":"it's, you know, it's a well,"},{"speaker":"Alan Smith","startTime":2003.18,"endTime":2006.24,"body":"well trodden path. This happened"},{"speaker":"Alan Smith","startTime":2006.24,"endTime":2009.12,"body":"so many times they buy up"},{"speaker":"Alan Smith","startTime":2006.24,"endTime":2009.12,"body":"distribution. You spend a"},{"speaker":"Alan Smith","startTime":2009.12,"endTime":2012.84,"body":"fortune, the overpay for"},{"speaker":"Alan Smith","startTime":2009.12,"endTime":2012.84,"body":"companies, and they work out."},{"speaker":"Alan Smith","startTime":2012.84,"endTime":2015.72,"body":"There's a lot more to it."},{"speaker":"Alan Smith","startTime":2012.84,"endTime":2015.72,"body":"There's a culture that exists in"},{"speaker":"Alan Smith","startTime":2015.72,"endTime":2019.44,"body":"the planning community. There"},{"speaker":"Alan Smith","startTime":2015.72,"endTime":2019.44,"body":"is, as Nick often says, there's"},{"speaker":"Alan Smith","startTime":2019.44,"endTime":2023.36,"body":"an art about it's not, it's not"},{"speaker":"Alan Smith","startTime":2019.44,"endTime":2023.36,"body":"just spreadsheets and P and l's"},{"speaker":"Alan Smith","startTime":2023.36,"endTime":2026.36,"body":"and profitability that corporate"},{"speaker":"Alan Smith","startTime":2023.36,"endTime":2026.36,"body":"life revolves around. That's"},{"speaker":"Alan Smith","startTime":2026.36,"endTime":2029.66,"body":"just the nature of particularly"},{"speaker":"Alan Smith","startTime":2026.36,"endTime":2029.66,"body":"big listed companies. And it's"},{"speaker":"Alan Smith","startTime":2029.66,"endTime":2033.02,"body":"inevitably, it's very, very,"},{"speaker":"Alan Smith","startTime":2029.66,"endTime":2033.02,"body":"very, very difficult to maintain"},{"speaker":"Alan Smith","startTime":2033.02,"endTime":2035.9,"body":"that, that independent,"},{"speaker":"Alan Smith","startTime":2033.02,"endTime":2035.9,"body":"creative, entrepreneurial"},{"speaker":"Alan Smith","startTime":2035.9,"endTime":2039.26,"body":"culture that exists in planning"},{"speaker":"Alan Smith","startTime":2035.9,"endTime":2039.26,"body":"businesses whilst you're owned"},{"speaker":"Alan Smith","startTime":2039.26,"endTime":2043.78,"body":"by a huge company. And yes,"},{"speaker":"Alan Smith","startTime":2039.26,"endTime":2043.78,"body":"they're putting up for sale."},{"speaker":"Alan Smith","startTime":2043.84,"endTime":2046.66,"body":"They'll sell it, no doubt, at a"},{"speaker":"Alan Smith","startTime":2043.84,"endTime":2046.66,"body":"significant loss. Yes,"},{"speaker":"Andy Hart","startTime":2049.0,"endTime":2052.24,"body":"just on that. Alan,"},{"speaker":"Andy Hart","startTime":2049.0,"endTime":2052.24,"body":"what is this worth and who wants"},{"speaker":"Andy Hart","startTime":2052.24,"endTime":2055.12,"body":"to buy it? You know, all the"},{"speaker":"Andy Hart","startTime":2052.24,"endTime":2055.12,"body":"advisors gonna leave, all the"},{"speaker":"Andy Hart","startTime":2055.12,"endTime":2059.92,"body":"staff are gonna leave. It's"},{"speaker":"Andy Hart","startTime":2055.12,"endTime":2059.92,"body":"losing 34 million a year. The"},{"speaker":"Andy Hart","startTime":2059.92,"endTime":2061.32,"body":"other thing that's quite"},{"speaker":"Andy Hart","startTime":2059.92,"endTime":2061.32,"body":"interesting."},{"speaker":"Alan Smith","startTime":2062.34,"endTime":2066.12,"body":"How exactly was it"},{"speaker":"Alan Smith","startTime":2062.34,"endTime":2066.12,"body":"losing 34 million on 26 million"},{"speaker":"Alan Smith","startTime":2066.12,"endTime":2068.28,"body":"turnover or so, I don't know."},{"speaker":"Alan Smith","startTime":2066.12,"endTime":2068.28,"body":"Again, it's"},{"speaker":"Carl Widger","startTime":2070.019,"endTime":2073.379,"body":"to be exceptional"},{"speaker":"Carl Widger","startTime":2070.019,"endTime":2073.379,"body":"items. Guys, that's, yeah,"},{"speaker":"Andy Hart","startTime":2074.579,"endTime":2078.359,"body":"I know. Carl, yeah,"},{"speaker":"Andy Hart","startTime":2074.579,"endTime":2078.359,"body":"right, yeah, accounting,"},{"speaker":"Andy Hart","startTime":2078.359,"endTime":2081.439,"body":"trickeries and stuff. The other"},{"speaker":"Andy Hart","startTime":2078.359,"endTime":2081.439,"body":"thing that is definitely not"},{"speaker":"Andy Hart","startTime":2081.439,"endTime":2086.539,"body":"going to be the case. They've"},{"speaker":"Andy Hart","startTime":2081.439,"endTime":2086.539,"body":"only earmarked 299,000 pounds"},{"speaker":"Andy Hart","startTime":2087.079,"endTime":2089.539,"body":"provisions for clients where"},{"speaker":"Andy Hart","startTime":2087.079,"endTime":2089.539,"body":"they didn't receive their"},{"speaker":"Andy Hart","startTime":2089.539,"endTime":2092.599,"body":"contracted services. This is"},{"speaker":"Andy Hart","startTime":2089.539,"endTime":2092.599,"body":"missing annual planning"},{"speaker":"Andy Hart","startTime":2092.599,"endTime":2096.319,"body":"meetings. Good luck with that"},{"speaker":"Andy Hart","startTime":2092.599,"endTime":2096.319,"body":"total. Bs, barely 300 grand."},{"speaker":"Andy Hart","startTime":2096.319,"endTime":2100.539,"body":"Very much. Earmarked. So"},{"speaker":"Andy Hart","startTime":2096.319,"endTime":2100.539,"body":"dangerous pace. Are going to"},{"speaker":"Andy Hart","startTime":2100.539,"endTime":2103.659,"body":"make a guess. They're better"},{"speaker":"Andy Hart","startTime":2100.539,"endTime":2103.659,"body":"organized than this, than these"},{"speaker":"Andy Hart","startTime":2103.659,"endTime":2107.919,"body":"jokers. They fear, they fear"},{"speaker":"Andy Hart","startTime":2103.659,"endTime":2107.919,"body":"mark 462 million. I know the"},{"speaker":"Andy Hart","startTime":2107.919,"endTime":2110.919,"body":"numbers are bigger. They've"},{"speaker":"Andy Hart","startTime":2107.919,"endTime":2110.919,"body":"earmarked 300 grand. That will"},{"speaker":"Andy Hart","startTime":2110.919,"endTime":2114.939,"body":"be one client. Are these people"},{"speaker":"Andy Hart","startTime":2110.919,"endTime":2114.939,"body":"insane? There's one client that"},{"speaker":"Andy Hart","startTime":2114.939,"endTime":2118.119,"body":"they've not seen for nine years."},{"speaker":"Andy Hart","startTime":2114.939,"endTime":2118.119,"body":"They've had 3 million invested."},{"speaker":"Andy Hart","startTime":2118.299,"endTime":2120.779,"body":"All of that money is coming"},{"speaker":"Andy Hart","startTime":2118.299,"endTime":2120.779,"body":"back. Oh no. We earmarked 300"},{"speaker":"Andy Hart","startTime":2121.079,"endTime":2124.079,"body":"grand. It's, this is an"},{"speaker":"Andy Hart","startTime":2121.079,"endTime":2124.079,"body":"absolute."},{"speaker":"Unknown","startTime":2126.42,"endTime":2129.12,"body":"We withdraw the offer."},{"speaker":"Unknown","startTime":2126.42,"endTime":2129.12,"body":"Like most of our ideas,"},{"speaker":"Andy Hart","startTime":2131.82,"endTime":2135.36,"body":"not quite so good."},{"speaker":"Andy Hart","startTime":2131.82,"endTime":2135.36,"body":"This is not an asset. This is an"},{"speaker":"Andy Hart","startTime":2135.36,"endTime":2138.96,"body":"insane liability. So who on"},{"speaker":"Andy Hart","startTime":2135.36,"endTime":2138.96,"body":"earth will buy this? Someone"},{"speaker":"Andy Hart","startTime":2138.96,"endTime":2140.7,"body":"will rock up anyway. Okay, I'm"},{"speaker":"Andy Hart","startTime":2138.96,"endTime":2140.7,"body":"just"},{"speaker":"Nick Lincoln","startTime":2141.119,"endTime":2143.119,"body":"conscious of time."},{"speaker":"Nick Lincoln","startTime":2141.119,"endTime":2143.119,"body":"Guys, thanks for this really,"},{"speaker":"Nick Lincoln","startTime":2143.119,"endTime":2147.259,"body":"really good Heinz episode so"},{"speaker":"Nick Lincoln","startTime":2143.119,"endTime":2147.259,"body":"far. Thank you. Voice, Dan"},{"speaker":"Nick Lincoln","startTime":2147.259,"endTime":2148.159,"body":"haylet, friend of the"},{"speaker":"Carl Widger","startTime":2148.16,"endTime":2151.76,"body":"show, yeah, I"},{"speaker":"Carl Widger","startTime":2148.16,"endTime":2151.76,"body":"mentioned that I did a kind of"},{"speaker":"Carl Widger","startTime":2151.76,"endTime":2155.24,"body":"client interview story the last"},{"speaker":"Carl Widger","startTime":2151.76,"endTime":2155.24,"body":"time, and it's gone down really,"},{"speaker":"Carl Widger","startTime":2155.24,"endTime":2158.42,"body":"really well. And I actually did"},{"speaker":"Carl Widger","startTime":2155.24,"endTime":2158.42,"body":"another one, and it's gonna be"},{"speaker":"Carl Widger","startTime":2158.42,"endTime":2162.1,"body":"really good. But Dan Hale"},{"speaker":"Carl Widger","startTime":2158.42,"endTime":2162.1,"body":"interviewed a client of his on"},{"speaker":"Carl Widger","startTime":2162.1,"endTime":2166.18,"body":"his podcast, and I can't"},{"speaker":"Carl Widger","startTime":2162.1,"endTime":2166.18,"body":"remember, I'm sorry, what's the"},{"speaker":"Carl Widger","startTime":2166.18,"endTime":2169.18,"body":"name of the podcast? Again, no"},{"speaker":"Unknown","startTime":2169.899,"endTime":2172.299,"body":"money. Human versus"},{"speaker":"Unknown","startTime":2169.899,"endTime":2172.299,"body":"sorry. I mean the next thing,"},{"speaker":"Nick Lincoln","startTime":2172.3,"endTime":2173.68,"body":"sorry, yeah, yeah,"},{"speaker":"Andy Hart","startTime":2173.739,"endTime":2176.739,"body":"the humans versus"},{"speaker":"Andy Hart","startTime":2173.739,"endTime":2176.739,"body":"retirement, yeah. And"},{"speaker":"Carl Widger","startTime":2176.739,"endTime":2178.839,"body":"it's brilliant. And"},{"speaker":"Carl Widger","startTime":2176.739,"endTime":2178.839,"body":"his client actually was in the"},{"speaker":"Carl Widger","startTime":2178.839,"endTime":2183.239,"body":"financial services industry, and"},{"speaker":"Carl Widger","startTime":2178.839,"endTime":2183.239,"body":"I think kind of investment"},{"speaker":"Carl Widger","startTime":2183.239,"endTime":2187.199,"body":"management, but still employed"},{"speaker":"Carl Widger","startTime":2183.239,"endTime":2187.199,"body":"Dan and they have a chat about"},{"speaker":"Carl Widger","startTime":2187.199,"endTime":2190.619,"body":"the kind of year long process"},{"speaker":"Carl Widger","startTime":2187.199,"endTime":2190.619,"body":"that he went through. Really"},{"speaker":"Carl Widger","startTime":2190.619,"endTime":2195.419,"body":"brilliant interview. I highly"},{"speaker":"Carl Widger","startTime":2190.619,"endTime":2195.419,"body":"recommend us Sure. You know what"},{"speaker":"Carl Widger","startTime":2195.419,"endTime":2197.999,"body":"I think. I think everyone should"},{"speaker":"Carl Widger","startTime":2195.419,"endTime":2197.999,"body":"be doing this for all of their"},{"speaker":"Carl Widger","startTime":2197.999,"endTime":2200.359,"body":"clients. If you're financial"},{"speaker":"Carl Widger","startTime":2197.999,"endTime":2200.359,"body":"planner, there are loads of"},{"speaker":"Carl Widger","startTime":2200.359,"endTime":2203.179,"body":"clients who love what you've"},{"speaker":"Carl Widger","startTime":2200.359,"endTime":2203.179,"body":"done for them and tell the"},{"speaker":"Carl Widger","startTime":2203.179,"endTime":2207.259,"body":"stories. But this particular guy"},{"speaker":"Carl Widger","startTime":2203.179,"endTime":2207.259,"body":"was very eloquent in how he"},{"speaker":"Carl Widger","startTime":2207.259,"endTime":2210.319,"body":"described where he was and the,"},{"speaker":"Carl Widger","startTime":2207.259,"endTime":2210.319,"body":"I suppose, the process that"},{"speaker":"Carl Widger","startTime":2210.319,"endTime":2213.619,"body":"himself and Dan went through"},{"speaker":"Carl Widger","startTime":2210.319,"endTime":2213.619,"body":"really, really good, great"},{"speaker":"Carl Widger","startTime":2213.619,"endTime":2217.999,"body":"client story. Tune in to Dan's"},{"speaker":"Carl Widger","startTime":2213.619,"endTime":2217.999,"body":"podcast. It's brilliant. Okay,"},{"speaker":"Nick Lincoln","startTime":2218.0,"endTime":2220.1,"body":"great stuff. Thank"},{"speaker":"Nick Lincoln","startTime":2218.0,"endTime":2220.1,"body":"you. So right? The next point"},{"speaker":"Nick Lincoln","startTime":2220.1,"endTime":2223.24,"body":"was, was the one I that's what I"},{"speaker":"Nick Lincoln","startTime":2220.1,"endTime":2223.24,"body":"misread. My one is a wealth of"},{"speaker":"Nick Lincoln","startTime":2223.3,"endTime":2228.76,"body":"common sense by Ben Carlson,"},{"speaker":"Nick Lincoln","startTime":2223.3,"endTime":2228.76,"body":"who's a US financial, money"},{"speaker":"Nick Lincoln","startTime":2228.82,"endTime":2232.72,"body":"blogger kind of guy. And he just"},{"speaker":"Nick Lincoln","startTime":2228.82,"endTime":2232.72,"body":"writes, he's very nice essays,"},{"speaker":"Nick Lincoln","startTime":2232.72,"endTime":2235.36,"body":"very good quality. He's one of"},{"speaker":"Nick Lincoln","startTime":2232.72,"endTime":2235.36,"body":"the better ones. Thank him. And"},{"speaker":"Nick Lincoln","startTime":2235.36,"endTime":2238.24,"body":"Jason Schweiger, the two"},{"speaker":"Nick Lincoln","startTime":2235.36,"endTime":2238.24,"body":"American authors I like the"},{"speaker":"Nick Lincoln","startTime":2238.24,"endTime":2240.64,"body":"most. And he's just put out an"},{"speaker":"Nick Lincoln","startTime":2238.24,"endTime":2240.64,"body":"essay called the perfect level"},{"speaker":"Nick Lincoln","startTime":2240.64,"endTime":2243.48,"body":"of wealth. And it's not this"},{"speaker":"Nick Lincoln","startTime":2240.64,"endTime":2243.48,"body":"bigger subject. I think we all,"},{"speaker":"Nick Lincoln","startTime":2243.48,"endTime":2245.7,"body":"you know, we're all aging."},{"speaker":"Nick Lincoln","startTime":2243.48,"endTime":2245.7,"body":"Obviously, our clients are"},{"speaker":"Nick Lincoln","startTime":2245.7,"endTime":2248.04,"body":"aging. They're coming to that"},{"speaker":"Nick Lincoln","startTime":2245.7,"endTime":2248.04,"body":"word zone. You might want to"},{"speaker":"Nick Lincoln","startTime":2248.04,"endTime":2250.38,"body":"call it retirement. You might"},{"speaker":"Nick Lincoln","startTime":2248.04,"endTime":2250.38,"body":"want to call it financial"},{"speaker":"Nick Lincoln","startTime":2250.44,"endTime":2253.5,"body":"independence. But the bigger"},{"speaker":"Nick Lincoln","startTime":2250.44,"endTime":2253.5,"body":"question, the question that's"},{"speaker":"Nick Lincoln","startTime":2253.5,"endTime":2256.62,"body":"becoming bigger and bigger and"},{"speaker":"Nick Lincoln","startTime":2253.5,"endTime":2256.62,"body":"bigger, third act is, what are"},{"speaker":"Nick Lincoln","startTime":2256.62,"endTime":2259.8,"body":"you not What are you retiring"},{"speaker":"Nick Lincoln","startTime":2256.62,"endTime":2259.8,"body":"from? But what are you retiring"},{"speaker":"Nick Lincoln","startTime":2259.8,"endTime":2262.1,"body":"to? Yeah, the third act. And"},{"speaker":"Nick Lincoln","startTime":2259.8,"endTime":2262.1,"body":"this essay is about that, and"},{"speaker":"Nick Lincoln","startTime":2262.34,"endTime":2265.28,"body":"about how, you know, people who"},{"speaker":"Nick Lincoln","startTime":2262.34,"endTime":2265.28,"body":"do retire with oodles of money"},{"speaker":"Nick Lincoln","startTime":2265.88,"endTime":2270.26,"body":"just aren't happy. So the"},{"speaker":"Nick Lincoln","startTime":2265.88,"endTime":2270.26,"body":"founder of Mvmt movement, I"},{"speaker":"Nick Lincoln","startTime":2270.26,"endTime":2272.66,"body":"believe that's short for their"},{"speaker":"Nick Lincoln","startTime":2270.26,"endTime":2272.66,"body":"sell. You know, sunglasses,"},{"speaker":"Nick Lincoln","startTime":2272.66,"endTime":2276.02,"body":"another shot like that. He sold"},{"speaker":"Nick Lincoln","startTime":2272.66,"endTime":2276.02,"body":"his company for $100 million at"},{"speaker":"Nick Lincoln","startTime":2276.02,"endTime":2279.98,"body":"the age of 27 this guy says,"},{"speaker":"Nick Lincoln","startTime":2276.02,"endTime":2279.98,"body":"fast forward to now. I've been"},{"speaker":"Nick Lincoln","startTime":2279.98,"endTime":2283.78,"body":"separated from the company for"},{"speaker":"Nick Lincoln","startTime":2279.98,"endTime":2283.78,"body":"two years. I'm 31 single and"},{"speaker":"Nick Lincoln","startTime":2283.78,"endTime":2287.02,"body":"never have to work again. I've"},{"speaker":"Nick Lincoln","startTime":2283.78,"endTime":2287.02,"body":"also been lonely than ever and"},{"speaker":"Nick Lincoln","startTime":2287.02,"endTime":2290.86,"body":"deeply depressed. And it's this"},{"speaker":"Nick Lincoln","startTime":2287.02,"endTime":2290.86,"body":"fact that you and I'm not going"},{"speaker":"Nick Lincoln","startTime":2290.86,"endTime":2295.12,"body":"to read it because a long quote,"},{"speaker":"Nick Lincoln","startTime":2290.86,"endTime":2295.12,"body":"but basically the sub thread of"},{"speaker":"Nick Lincoln","startTime":2295.18,"endTime":2298.42,"body":"this article, the underlying"},{"speaker":"Nick Lincoln","startTime":2295.18,"endTime":2298.42,"body":"thing is we have to have"},{"speaker":"Nick Lincoln","startTime":2298.42,"endTime":2302.1,"body":"purpose, and we don't understand"},{"speaker":"Nick Lincoln","startTime":2298.42,"endTime":2302.1,"body":"quite how work gives us a real"},{"speaker":"Nick Lincoln","startTime":2302.1,"endTime":2305.52,"body":"sense of purpose. And there's"},{"speaker":"Nick Lincoln","startTime":2302.1,"endTime":2305.52,"body":"one other guy in here, if I"},{"speaker":"Nick Lincoln","startTime":2305.52,"endTime":2308.34,"body":"could say the guy who made even"},{"speaker":"Nick Lincoln","startTime":2305.52,"endTime":2308.34,"body":"more money than that, he's a guy"},{"speaker":"Nick Lincoln","startTime":2308.34,"endTime":2313.62,"body":"who sold his company for $975"},{"speaker":"Nick Lincoln","startTime":2308.34,"endTime":2313.62,"body":"million and he's saying that"},{"speaker":"Nick Lincoln","startTime":2314.22,"endTime":2316.5,"body":"I've infinite freedom. I don't"},{"speaker":"Nick Lincoln","startTime":2314.22,"endTime":2316.5,"body":"know what to do with it, and"},{"speaker":"Nick Lincoln","startTime":2316.5,"endTime":2319.14,"body":"honestly, I'm not the most"},{"speaker":"Nick Lincoln","startTime":2316.5,"endTime":2319.14,"body":"optimistic about life. And then"},{"speaker":"Nick Lincoln","startTime":2319.14,"endTime":2322.46,"body":"Ben Carson closes off bit of a"},{"speaker":"Nick Lincoln","startTime":2319.14,"endTime":2322.46,"body":"bit of a reaches. But he says, I"},{"speaker":"Nick Lincoln","startTime":2322.46,"endTime":2324.86,"body":"may be generalizing here, but"},{"speaker":"Nick Lincoln","startTime":2322.46,"endTime":2324.86,"body":"the sweet spot for being rich"},{"speaker":"Nick Lincoln","startTime":2324.86,"endTime":2327.74,"body":"but not feeling overwhelmed by"},{"speaker":"Nick Lincoln","startTime":2324.86,"endTime":2327.74,"body":"the pressure of the wealth is"},{"speaker":"Nick Lincoln","startTime":2327.74,"endTime":2331.64,"body":"somewhere in the seven to ten"},{"speaker":"Nick Lincoln","startTime":2327.74,"endTime":2331.64,"body":"million range, which, you know,"},{"speaker":"Nick Lincoln","startTime":2331.64,"endTime":2333.86,"body":"so people that probably have got"},{"speaker":"Nick Lincoln","startTime":2331.64,"endTime":2333.86,"body":"enough maybe don't know, but"},{"speaker":"Nick Lincoln","startTime":2333.86,"endTime":2336.08,"body":"just get just interesting. You"},{"speaker":"Nick Lincoln","startTime":2333.86,"endTime":2336.08,"body":"know, Money does not buy"},{"speaker":"Nick Lincoln","startTime":2336.08,"endTime":2338.84,"body":"happiness. It buys you choices,"},{"speaker":"Nick Lincoln","startTime":2336.08,"endTime":2338.84,"body":"but for a lot of people, it's"},{"speaker":"Nick Lincoln","startTime":2338.96,"endTime":2341.92,"body":"been driven people who build"},{"speaker":"Nick Lincoln","startTime":2338.96,"endTime":2341.92,"body":"really good companies that sell"},{"speaker":"Nick Lincoln","startTime":2341.92,"endTime":2345.04,"body":"lots of money. They are, as I"},{"speaker":"Nick Lincoln","startTime":2341.92,"endTime":2345.04,"body":"just said, they are driven,"},{"speaker":"Nick Lincoln","startTime":2345.1,"endTime":2348.04,"body":"right? They are going to be like"},{"speaker":"Nick Lincoln","startTime":2345.1,"endTime":2348.04,"body":"restless souls. So it's not all"},{"speaker":"Nick Lincoln","startTime":2348.04,"endTime":2350.5,"body":"just about the money. And that's"},{"speaker":"Nick Lincoln","startTime":2348.04,"endTime":2350.5,"body":"that's something that we need to"},{"speaker":"Nick Lincoln","startTime":2350.5,"endTime":2352.78,"body":"incorporate, I think, in when"},{"speaker":"Nick Lincoln","startTime":2350.5,"endTime":2352.78,"body":"we're talking with clients who"},{"speaker":"Nick Lincoln","startTime":2352.78,"endTime":2354.7,"body":"are selling their businesses,"},{"speaker":"Nick Lincoln","startTime":2352.78,"endTime":2354.7,"body":"you know, it's not just, oh,"},{"speaker":"Nick Lincoln","startTime":2354.7,"endTime":2356.68,"body":"well done. You sold your"},{"speaker":"Nick Lincoln","startTime":2354.7,"endTime":2356.68,"body":"business and we've done your"},{"speaker":"Nick Lincoln","startTime":2356.68,"endTime":2359.08,"body":"financial plan. You've got"},{"speaker":"Nick Lincoln","startTime":2356.68,"endTime":2359.08,"body":"enough, right? Those 70 hours"},{"speaker":"Nick Lincoln","startTime":2359.08,"endTime":2361.32,"body":"you are flogging to the business"},{"speaker":"Nick Lincoln","startTime":2359.08,"endTime":2361.32,"body":"for the business for the last 10"},{"speaker":"Nick Lincoln","startTime":2361.32,"endTime":2363.48,"body":"What are you going to do? What"},{"speaker":"Nick Lincoln","startTime":2361.32,"endTime":2363.48,"body":"you're going to do? Think about"},{"speaker":"Unknown","startTime":2363.48,"endTime":2364.2,"body":"it for your time. Yeah,"},{"speaker":"Alan Smith","startTime":2364.559,"endTime":2368.339,"body":"this is just a a"},{"speaker":"Alan Smith","startTime":2364.559,"endTime":2368.339,"body":"constant recurring theme on my"},{"speaker":"Alan Smith","startTime":2368.339,"endTime":2372.299,"body":"other award winning podcast, the"},{"speaker":"Alan Smith","startTime":2368.339,"endTime":2372.299,"body":"bulletproof entrepreneur. And"},{"speaker":"Alan Smith","startTime":2372.839,"endTime":2375.539,"body":"honestly, one of the reasons I"},{"speaker":"Alan Smith","startTime":2372.839,"endTime":2375.539,"body":"started that is because I used"},{"speaker":"Alan Smith","startTime":2375.539,"endTime":2378.059,"body":"to have these con i still do"},{"speaker":"Alan Smith","startTime":2375.539,"endTime":2378.059,"body":"have these conversations with"},{"speaker":"Alan Smith","startTime":2378.059,"endTime":2380.219,"body":"those business owners to sell"},{"speaker":"Alan Smith","startTime":2378.059,"endTime":2380.219,"body":"and exit, and they become"},{"speaker":"Alan Smith","startTime":2380.219,"endTime":2383.719,"body":"clients of ours. And you go"},{"speaker":"Alan Smith","startTime":2380.219,"endTime":2383.719,"body":"through that, and there's, you"},{"speaker":"Alan Smith","startTime":2383.719,"endTime":2386.659,"body":"know, quite just almost"},{"speaker":"Alan Smith","startTime":2383.719,"endTime":2386.659,"body":"surprising. But then, on"},{"speaker":"Alan Smith","startTime":2386.659,"endTime":2390.199,"body":"reflection, not surprising, real"},{"speaker":"Alan Smith","startTime":2386.659,"endTime":2390.199,"body":"life stories. The one that I"},{"speaker":"Alan Smith","startTime":2390.199,"endTime":2395.359,"body":"always remember this guy, Mike"},{"speaker":"Alan Smith","startTime":2390.199,"endTime":2395.359,"body":"Ames, who saw sold a recruitment"},{"speaker":"Alan Smith","startTime":2395.359,"endTime":2398.179,"body":"business, and his public"},{"speaker":"Alan Smith","startTime":2395.359,"endTime":2398.179,"body":"information is sold for 26"},{"speaker":"Alan Smith","startTime":2398.419,"endTime":2401.559,"body":"million. So he's above he's not."},{"speaker":"Alan Smith","startTime":2398.419,"endTime":2401.559,"body":"The hundreds of millions, but 26"},{"speaker":"Alan Smith","startTime":2401.859,"endTime":2405.819,"body":"million is enough for most"},{"speaker":"Alan Smith","startTime":2401.859,"endTime":2405.819,"body":"people. And he very candidly,"},{"speaker":"Alan Smith","startTime":2405.819,"endTime":2410.739,"body":"went through his experience, and"},{"speaker":"Alan Smith","startTime":2405.819,"endTime":2410.739,"body":"he said I had to have therapy. I"},{"speaker":"Alan Smith","startTime":2410.739,"endTime":2413.499,"body":"said I couldn't get out of bed"},{"speaker":"Alan Smith","startTime":2410.739,"endTime":2413.499,"body":"in the morning. I literally no"},{"speaker":"Alan Smith","startTime":2413.499,"endTime":2417.759,"body":"purpose. And the kind of the"},{"speaker":"Alan Smith","startTime":2413.499,"endTime":2417.759,"body":"challenge, even more challenging"},{"speaker":"Alan Smith","startTime":2417.759,"endTime":2420.459,"body":"thing is no one's get any"},{"speaker":"Alan Smith","startTime":2417.759,"endTime":2420.459,"body":"sympathy for you, because"},{"speaker":"Alan Smith","startTime":2420.879,"endTime":2423.719,"body":"everyone around you says, What"},{"speaker":"Alan Smith","startTime":2420.879,"endTime":2423.719,"body":"the hell have you got it? I wish"},{"speaker":"Alan Smith","startTime":2423.719,"endTime":2425.819,"body":"I had your problems. You got 26"},{"speaker":"Alan Smith","startTime":2423.719,"endTime":2425.819,"body":"million."},{"speaker":"Nick Lincoln","startTime":2425.82,"endTime":2427.62,"body":"Sorry, sorry,"},{"speaker":"Nick Lincoln","startTime":2425.82,"endTime":2427.62,"body":"ultra Do you have our guest"},{"speaker":"Nick Lincoln","startTime":2427.62,"endTime":2429.84,"body":"mobile number? Because he's"},{"speaker":"Nick Lincoln","startTime":2427.62,"endTime":2429.84,"body":"waiting in the lobby. If you do,"},{"speaker":"Nick Lincoln","startTime":2429.84,"endTime":2432.18,"body":"do you want to send a message?"},{"speaker":"Nick Lincoln","startTime":2429.84,"endTime":2432.18,"body":"Just say we'll be like, four"},{"speaker":"Nick Lincoln","startTime":2432.18,"endTime":2436.68,"body":"minutes or five minutes, please."},{"speaker":"Nick Lincoln","startTime":2432.18,"endTime":2436.68,"body":"Thanks. Yeah. Okay, yeah,"},{"speaker":"Alan Smith","startTime":2436.74,"endTime":2438.54,"body":"it's a good I"},{"speaker":"Alan Smith","startTime":2436.74,"endTime":2438.54,"body":"haven't read that article. I"},{"speaker":"Alan Smith","startTime":2438.54,"endTime":2439.44,"body":"shall certainly"},{"speaker":"Nick Lincoln","startTime":2440.22,"endTime":2443.48,"body":"just subscribe to"},{"speaker":"Nick Lincoln","startTime":2440.22,"endTime":2443.48,"body":"Ben Carson's a wealth of common"},{"speaker":"Nick Lincoln","startTime":2443.48,"endTime":2446.48,"body":"sense, and it'll just landed."},{"speaker":"Nick Lincoln","startTime":2443.48,"endTime":2446.48,"body":"Yeah, it's very good, isn't he?"},{"speaker":"Nick Lincoln","startTime":2446.6,"endTime":2448.76,"body":"That's one of those good he just"},{"speaker":"Unknown","startTime":2449.12,"endTime":2450.62,"body":"knows how to write"},{"speaker":"Nick Lincoln","startTime":2451.76,"endTime":2455.6,"body":"as smithy harvest"},{"speaker":"Nick Lincoln","startTime":2451.76,"endTime":2455.6,"body":"down, Mark Stone home."},{"speaker":"Alan Smith","startTime":2488.759,"endTime":2491.719,"body":"Yeah. I mean, this"},{"speaker":"Alan Smith","startTime":2488.759,"endTime":2491.719,"body":"is, this is one that it comes up"},{"speaker":"Alan Smith","startTime":2491.719,"endTime":2495.019,"body":"in a regular basis. I just saw"},{"speaker":"Alan Smith","startTime":2491.719,"endTime":2495.019,"body":"it again. Another article. You"},{"speaker":"Alan Smith","startTime":2495.019,"endTime":2499.159,"body":"know, these, these situations"},{"speaker":"Alan Smith","startTime":2495.019,"endTime":2499.159,"body":"where fund groups, fund managers"},{"speaker":"Alan Smith","startTime":2499.159,"endTime":2504.199,"body":"and platforms, are effectively"},{"speaker":"Alan Smith","startTime":2499.159,"endTime":2504.199,"body":"expected to, what I call mark"},{"speaker":"Alan Smith","startTime":2504.199,"endTime":2507.319,"body":"their own homework. They've got"},{"speaker":"Alan Smith","startTime":2504.199,"endTime":2507.319,"body":"to do a value assessment, yeah,"},{"speaker":"Alan Smith","startTime":2507.319,"endTime":2512.079,"body":"and write up. And it's just, I"},{"speaker":"Alan Smith","startTime":2507.319,"endTime":2512.079,"body":"mean, I mean, you could name"},{"speaker":"Alan Smith","startTime":2512.079,"endTime":2515.139,"body":"any, any of these companies. The"},{"speaker":"Alan Smith","startTime":2512.079,"endTime":2515.139,"body":"one that came up, it was on"},{"speaker":"Alan Smith","startTime":2515.139,"endTime":2518.739,"body":"trust, net article, Hargreaves,"},{"speaker":"Alan Smith","startTime":2515.139,"endTime":2518.739,"body":"Lansdown, and it just goes"},{"speaker":"Alan Smith","startTime":2518.739,"endTime":2522.519,"body":"through, and they, you know,"},{"speaker":"Alan Smith","startTime":2518.739,"endTime":2522.519,"body":"they're asked to look at it and"},{"speaker":"Alan Smith","startTime":2522.519,"endTime":2525.519,"body":"guess what, on all these various"},{"speaker":"Alan Smith","startTime":2522.519,"endTime":2525.519,"body":"metrics, investment performance,"},{"speaker":"Alan Smith","startTime":2525.519,"endTime":2528.399,"body":"against the benchmark costs,"},{"speaker":"Alan Smith","startTime":2525.519,"endTime":2528.399,"body":"against market averages, and a"},{"speaker":"Alan Smith","startTime":2528.399,"endTime":2530.939,"body":"bunch of other things. And they"},{"speaker":"Alan Smith","startTime":2528.399,"endTime":2530.939,"body":"mark their homework, and they've"},{"speaker":"Alan Smith","startTime":2530.939,"endTime":2534.479,"body":"come up with a big, long list."},{"speaker":"Alan Smith","startTime":2530.939,"endTime":2534.479,"body":"Not one of the funds listed gets"},{"speaker":"Alan Smith","startTime":2534.479,"endTime":2538.919,"body":"a green light, sort of the green"},{"speaker":"Alan Smith","startTime":2534.479,"endTime":2538.919,"body":"amber and red. And their list of"},{"speaker":"Alan Smith","startTime":2538.919,"endTime":2541.5589999999997,"body":"funds have got, you know, quite"},{"speaker":"Alan Smith","startTime":2538.919,"endTime":2541.5589999999997,"body":"a few reds, quite a lot of"},{"speaker":"Alan Smith","startTime":2541.5589999999997,"endTime":2544.619,"body":"ambers, quite a few, you know, a"},{"speaker":"Alan Smith","startTime":2541.5589999999997,"endTime":2544.619,"body":"few greens. Not one fund was"},{"speaker":"Alan Smith","startTime":2544.619,"endTime":2547.319,"body":"available to tick all the"},{"speaker":"Alan Smith","startTime":2544.619,"endTime":2547.319,"body":"particular boxes. And then the"},{"speaker":"Alan Smith","startTime":2547.319,"endTime":2550.019,"body":"inevitably, there's a there's a"},{"speaker":"Alan Smith","startTime":2547.319,"endTime":2550.019,"body":"commentary that comes with it."},{"speaker":"Alan Smith","startTime":2550.019,"endTime":2552.619,"body":"And they come back and they say,"},{"speaker":"Alan Smith","startTime":2550.019,"endTime":2552.619,"body":"along the lines of, well, going"},{"speaker":"Alan Smith","startTime":2552.619,"endTime":2555.619,"body":"forward, we're going to, you"},{"speaker":"Alan Smith","startTime":2552.619,"endTime":2555.619,"body":"know, readjust the portfolio,"},{"speaker":"Alan Smith","startTime":2555.679,"endTime":2560.5389999999998,"body":"hire a new portfolio, managers,"},{"speaker":"Alan Smith","startTime":2555.679,"endTime":2560.5389999999998,"body":"whatever. And I just think, what"},{"speaker":"Alan Smith","startTime":2560.5389999999998,"endTime":2562.939,"body":"is the point of these things? It"},{"speaker":"Alan Smith","startTime":2560.5389999999998,"endTime":2562.939,"body":"doesn't seem to be any"},{"speaker":"Alan Smith","startTime":2562.939,"endTime":2565.459,"body":"consequence. You're like, you"},{"speaker":"Alan Smith","startTime":2562.939,"endTime":2565.459,"body":"mark your own homework, and even"},{"speaker":"Alan Smith","startTime":2565.459,"endTime":2567.979,"body":"under pressure, you say, Yes, we"},{"speaker":"Alan Smith","startTime":2565.459,"endTime":2567.979,"body":"know that it's really bad and"},{"speaker":"Alan Smith","startTime":2568.339,"endTime":2571.359,"body":"it's underperformed and it's"},{"speaker":"Alan Smith","startTime":2568.339,"endTime":2571.359,"body":"expensive. But going forward,"},{"speaker":"Alan Smith","startTime":2571.359,"endTime":2574.0589999999997,"body":"we're going to do this, that and"},{"speaker":"Alan Smith","startTime":2571.359,"endTime":2574.0589999999997,"body":"the other. So don't worry. Back"},{"speaker":"Alan Smith","startTime":2574.0589999999997,"endTime":2576.939,"body":"to work. Nothing really happens"},{"speaker":"Alan Smith","startTime":2574.0589999999997,"endTime":2576.939,"body":"about it. It's a bit of a waste"},{"speaker":"Alan Smith","startTime":2576.939,"endTime":2577.599,"body":"of time. You"},{"speaker":"Andy Hart","startTime":2577.6,"endTime":2579.4,"body":"want it to come out"},{"speaker":"Andy Hart","startTime":2577.6,"endTime":2579.4,"body":"on page 48"},{"speaker":"Nick Lincoln","startTime":2580.54,"endTime":2583.7799999999997,"body":"Nick, do you think"},{"speaker":"Nick Lincoln","startTime":2580.54,"endTime":2583.7799999999997,"body":"the US wealth managers and us"},{"speaker":"Nick Lincoln","startTime":2583.7799999999997,"endTime":2586.06,"body":"fund groups have to go through"},{"speaker":"Nick Lincoln","startTime":2583.7799999999997,"endTime":2586.06,"body":"this nonsense? Here's another"},{"speaker":"Nick Lincoln","startTime":2586.06,"endTime":2589.06,"body":"example of why companies. Why"},{"speaker":"Nick Lincoln","startTime":2586.06,"endTime":2589.06,"body":"bother? Exactly? Why bother?"},{"speaker":"Nick Lincoln","startTime":2589.18,"endTime":2592.68,"body":"Kind of the market. The market"},{"speaker":"Nick Lincoln","startTime":2589.18,"endTime":2592.68,"body":"should tell you, if it really is"},{"speaker":"Nick Lincoln","startTime":2592.68,"endTime":2595.2,"body":"crap you're after, the"},{"speaker":"Nick Lincoln","startTime":2592.68,"endTime":2595.2,"body":"likelihood is less people are"},{"speaker":"Nick Lincoln","startTime":2595.2,"endTime":2596.52,"body":"going to invest in it."},{"speaker":"Andy Hart","startTime":2596.64,"endTime":2598.62,"body":"The irony with HL,"},{"speaker":"Andy Hart","startTime":2596.64,"endTime":2598.62,"body":"they've having to produce all"},{"speaker":"Andy Hart","startTime":2598.62,"endTime":2601.14,"body":"this crap that we think is a"},{"speaker":"Andy Hart","startTime":2598.62,"endTime":2601.14,"body":"load of a load of BS, but their"},{"speaker":"Andy Hart","startTime":2601.14,"endTime":2603.84,"body":"company is amazing. It's getting"},{"speaker":"Andy Hart","startTime":2601.14,"endTime":2603.84,"body":"bought and taken off the US"},{"speaker":"Andy Hart","startTime":2603.84,"endTime":2606.3,"body":"stock market, the UK stock"},{"speaker":"Andy Hart","startTime":2603.84,"endTime":2606.3,"body":"market, sorry, one of the most"},{"speaker":"Andy Hart","startTime":2606.3,"endTime":2609.0,"body":"profitable for 200 companies,"},{"speaker":"Andy Hart","startTime":2606.3,"endTime":2609.0,"body":"and they're getting taken off"},{"speaker":"Andy Hart","startTime":2609.0,"endTime":2611.4,"body":"the stock market. So again, all"},{"speaker":"Andy Hart","startTime":2609.0,"endTime":2611.4,"body":"the good companies are leaving,"},{"speaker":"Andy Hart","startTime":2611.4,"endTime":2613.22,"body":"yeah, out great value. First"},{"speaker":"Andy Hart","startTime":2611.4,"endTime":2613.22,"body":"Order. Problems, but"},{"speaker":"Nick Lincoln","startTime":2613.22,"endTime":2615.2,"body":"let's get Mrs."},{"speaker":"Nick Lincoln","startTime":2613.22,"endTime":2615.2,"body":"Megan's cash out so she can"},{"speaker":"Nick Lincoln","startTime":2615.2,"endTime":2618.2599999999998,"body":"bring back Hargreaves lands down"},{"speaker":"Nick Lincoln","startTime":2615.2,"endTime":2618.2599999999998,"body":"to the footsie. 100 good stuff."},{"speaker":"Unknown","startTime":2618.86,"endTime":2620.66,"body":"A good slavery policy"},{"speaker":"Unknown","startTime":2618.86,"endTime":2620.66,"body":"as well. I"},{"speaker":"Unknown","startTime":2622.099,"endTime":2626.239,"body":"believe they have a fantastic"},{"speaker":"Unknown","startTime":2622.099,"endTime":2626.239,"body":"Yeah, you know,"},{"speaker":"Nick Lincoln","startTime":2626.36,"endTime":2629.54,"body":"statues of Peter,"},{"speaker":"Nick Lincoln","startTime":2626.36,"endTime":2629.54,"body":"Peter Hargreaves into the into"},{"speaker":"Nick Lincoln","startTime":2629.54,"endTime":2635.86,"body":"the river. And I other guy,"},{"speaker":"Nick Lincoln","startTime":2629.54,"endTime":2635.86,"body":"right. Watch Robin Powell,"},{"speaker":"Nick Lincoln","startTime":2635.86,"endTime":2636.82,"body":"active fund managers."},{"speaker":"Carl Widger","startTime":2637.12,"endTime":2639.88,"body":"Yeah, did an"},{"speaker":"Carl Widger","startTime":2637.12,"endTime":2639.88,"body":"interview the evidence based"},{"speaker":"Carl Widger","startTime":2639.88,"endTime":2644.56,"body":"investor I posted on LinkedIn,"},{"speaker":"Carl Widger","startTime":2639.88,"endTime":2644.56,"body":"where do active fund managers"},{"speaker":"Carl Widger","startTime":2644.68,"endTime":2649.72,"body":"invest their own money? Yeah,"},{"speaker":"Carl Widger","startTime":2644.68,"endTime":2649.72,"body":"everyone should watch it. It's a"},{"speaker":"Carl Widger","startTime":2649.72,"endTime":2654.48,"body":"nice, short video, and you'll"},{"speaker":"Carl Widger","startTime":2649.72,"endTime":2654.48,"body":"not be surprised to hear that"},{"speaker":"Carl Widger","startTime":2654.48,"endTime":2658.5,"body":"they don't invest it in in this"},{"speaker":"Carl Widger","startTime":2654.48,"endTime":2658.5,"body":"particular study, they found"},{"speaker":"Carl Widger","startTime":2658.5,"endTime":2661.74,"body":"that the active fund managers"},{"speaker":"Carl Widger","startTime":2658.5,"endTime":2661.74,"body":"didn't invest the money, their"},{"speaker":"Carl Widger","startTime":2661.74,"endTime":2665.46,"body":"own money, in their own funds."},{"speaker":"Carl Widger","startTime":2661.74,"endTime":2665.46,"body":"It was pointed out to me by a"},{"speaker":"Carl Widger","startTime":2665.46,"endTime":2669.0,"body":"few people on LinkedIn that, Oh"},{"speaker":"Carl Widger","startTime":2665.46,"endTime":2669.0,"body":"well, I know some active"},{"speaker":"Carl Widger","startTime":2669.0,"endTime":2672.38,"body":"managers who invest in their own"},{"speaker":"Carl Widger","startTime":2669.0,"endTime":2672.38,"body":"funds. So yeah, I was going to"},{"speaker":"Carl Widger","startTime":2672.38,"endTime":2674.84,"body":"reply. And then I went, Okay,"},{"speaker":"Carl Widger","startTime":2672.38,"endTime":2674.84,"body":"life's too short."},{"speaker":"Nick Lincoln","startTime":2675.14,"endTime":2680.12,"body":"Life, okay, um,"},{"speaker":"Nick Lincoln","startTime":2675.14,"endTime":2680.12,"body":"okay. Case are with that last"},{"speaker":"Nick Lincoln","startTime":2680.12,"endTime":2682.94,"body":"point. So 44 minutes in, and"},{"speaker":"Nick Lincoln","startTime":2680.12,"endTime":2682.94,"body":"we've got a guest, dear"},{"speaker":"Nick Lincoln","startTime":2682.94,"endTime":2685.88,"body":"Trappist. We have another guest"},{"speaker":"Nick Lincoln","startTime":2682.94,"endTime":2685.88,"body":"on The Real advisor podcast."},{"speaker":"Nick Lincoln","startTime":2686.24,"endTime":2690.14,"body":"This guy is a chap called um"},{"speaker":"Nick Lincoln","startTime":2686.24,"endTime":2690.14,"body":"Barney whiter. He's also known"},{"speaker":"Nick Lincoln","startTime":2690.14,"endTime":2692.36,"body":"as the escape artist. And then"},{"speaker":"Nick Lincoln","startTime":2690.14,"endTime":2692.36,"body":"we're moving on to the meat"},{"speaker":"Nick Lincoln","startTime":2692.36,"endTime":2695.32,"body":"potatoes. And potatoes. Now we"},{"speaker":"Nick Lincoln","startTime":2692.36,"endTime":2695.32,"body":"covered the fire movement, fire"},{"speaker":"Nick Lincoln","startTime":2695.32,"endTime":2699.2799999999997,"body":"financial independence. Retire"},{"speaker":"Nick Lincoln","startTime":2695.32,"endTime":2699.2799999999997,"body":"early in Episode 30. We gave it"},{"speaker":"Nick Lincoln","startTime":2699.2799999999997,"endTime":2701.74,"body":"a bit of a good going over. And"},{"speaker":"Nick Lincoln","startTime":2699.2799999999997,"endTime":2701.74,"body":"now we got one of the people"},{"speaker":"Nick Lincoln","startTime":2701.74,"endTime":2704.38,"body":"who's very much involved in it"},{"speaker":"Nick Lincoln","startTime":2701.74,"endTime":2704.38,"body":"and very much respected in it,"},{"speaker":"Nick Lincoln","startTime":2704.38,"endTime":2707.02,"body":"and I'm gonna let him into the"},{"speaker":"Nick Lincoln","startTime":2704.38,"endTime":2707.02,"body":"room now, hopefully the software"},{"speaker":"Nick Lincoln","startTime":2707.02,"endTime":2711.36,"body":"doesn't crash, so we're gonna"},{"speaker":"Nick Lincoln","startTime":2707.02,"endTime":2711.36,"body":"let in. Barney whiter,"},{"speaker":"Unknown","startTime":2714.0,"endTime":2715.92,"body":"hey, there's somebody"},{"speaker":"Unknown","startTime":2714.0,"endTime":2715.92,"body":"at the door."},{"speaker":"Barney Whiter","startTime":2722.279,"endTime":2723.5389999999998,"body":"Not guilty, not"},{"speaker":"Barney Whiter","startTime":2722.279,"endTime":2723.5389999999998,"body":"guilty."},{"speaker":"Nick Lincoln","startTime":2723.54,"endTime":2724.62,"body":"Mr. White, or"},{"speaker":"Nick Lincoln","startTime":2723.54,"endTime":2724.62,"body":"Hello,"},{"speaker":"Barney Whiter","startTime":2725.639,"endTime":2728.819,"body":"oh my goodness."},{"speaker":"Barney Whiter","startTime":2725.639,"endTime":2728.819,"body":"What sort of operation you"},{"speaker":"Barney Whiter","startTime":2728.819,"endTime":2732.499,"body":"running here? My broad. Band"},{"speaker":"Barney Whiter","startTime":2728.819,"endTime":2732.499,"body":"settings block porn, and they"},{"speaker":"Barney Whiter","startTime":2732.499,"endTime":2733.579,"body":"block Riverside,"},{"speaker":"Nick Lincoln","startTime":2734.84,"endTime":2737.12,"body":"yeah, we have a"},{"speaker":"Nick Lincoln","startTime":2734.84,"endTime":2737.12,"body":"separate car that involves, that"},{"speaker":"Nick Lincoln","startTime":2737.12,"endTime":2739.7599999999998,"body":"involves pornography. You"},{"speaker":"Nick Lincoln","startTime":2737.12,"endTime":2739.7599999999998,"body":"managed to make it in. You"},{"speaker":"Nick Lincoln","startTime":2742.46,"endTime":2747.2599999999998,"body":"managed to make it in. Barney,"},{"speaker":"Nick Lincoln","startTime":2742.46,"endTime":2747.2599999999998,"body":"thank you very much. Andy, do"},{"speaker":"Nick Lincoln","startTime":2747.2599999999998,"endTime":2750.16,"body":"you want to give the TRAPPIST a"},{"speaker":"Nick Lincoln","startTime":2747.2599999999998,"endTime":2750.16,"body":"little bit of an overview of the"},{"speaker":"Nick Lincoln","startTime":2750.16,"endTime":2751.42,"body":"escape artist, I"},{"speaker":"Andy Hart","startTime":2751.42,"endTime":2754.12,"body":"will Barney, your"},{"speaker":"Andy Hart","startTime":2751.42,"endTime":2754.12,"body":"volume is a little bit loud and"},{"speaker":"Andy Hart","startTime":2754.12,"endTime":2756.58,"body":"your headphones maybe turn it"},{"speaker":"Andy Hart","startTime":2754.12,"endTime":2756.58,"body":"down a little bit. It's coming"},{"speaker":"Andy Hart","startTime":2756.58,"endTime":2759.88,"body":"back through your mic. I give a"},{"speaker":"Andy Hart","startTime":2756.58,"endTime":2759.88,"body":"little telling off before I"},{"speaker":"Andy Hart","startTime":2761.02,"endTime":2764.92,"body":"introduce him. Barney's bunny is"},{"speaker":"Andy Hart","startTime":2761.02,"endTime":2764.92,"body":"a close personal friend of mine."},{"speaker":"Nick Lincoln","startTime":2765.46,"endTime":2766.12,"body":"Oh, God,"},{"speaker":"Andy Hart","startTime":2769.0,"endTime":2774.84,"body":"Nicholas. He's"},{"speaker":"Andy Hart","startTime":2769.0,"endTime":2774.84,"body":"appeared on my my other podcast,"},{"speaker":"Andy Hart","startTime":2774.84,"endTime":2777.12,"body":"Maven money. He's coming a"},{"speaker":"Andy Hart","startTime":2774.84,"endTime":2777.12,"body":"couple of times. He's a"},{"speaker":"Andy Hart","startTime":2777.12,"endTime":2782.2799999999997,"body":"financial coach, non regulated"},{"speaker":"Andy Hart","startTime":2777.12,"endTime":2782.2799999999997,"body":"to end consumers. He writes a"},{"speaker":"Andy Hart","startTime":2782.2799999999997,"endTime":2788.1,"body":"lot. He's very outspoken in the"},{"speaker":"Andy Hart","startTime":2782.2799999999997,"endTime":2788.1,"body":"financial independence retire,"},{"speaker":"Andy Hart","startTime":2788.16,"endTime":2792.62,"body":"early movement, however you want"},{"speaker":"Andy Hart","startTime":2788.16,"endTime":2792.62,"body":"to slice and dice it, and I"},{"speaker":"Andy Hart","startTime":2792.62,"endTime":2796.88,"body":"thought we'd get him on to have"},{"speaker":"Andy Hart","startTime":2792.62,"endTime":2796.88,"body":"a chat with him today. Are you"},{"speaker":"Andy Hart","startTime":2796.88,"endTime":2798.92,"body":"ready to go? My friend?"},{"speaker":"Barney Whiter","startTime":2799.7599999999998,"endTime":2802.04,"body":"I am. I've just"},{"speaker":"Barney Whiter","startTime":2799.7599999999998,"endTime":2802.04,"body":"turned myself down a little bit."},{"speaker":"Barney Whiter","startTime":2802.04,"endTime":2803.12,"body":"Does that make a difference?"},{"speaker":"Andy Hart","startTime":2803.179,"endTime":2806.719,"body":"I think that sounds a"},{"speaker":"Andy Hart","startTime":2803.179,"endTime":2806.719,"body":"bit better. Yes, my, my, my"},{"speaker":"Andy Hart","startTime":2806.719,"endTime":2810.579,"body":"audio is now not coming out of"},{"speaker":"Andy Hart","startTime":2806.719,"endTime":2810.579,"body":"your headphones. So all good. So"},{"speaker":"Andy Hart","startTime":2810.579,"endTime":2812.199,"body":"welcome to the show, my friend."},{"speaker":"Andy Hart","startTime":2810.579,"endTime":2812.199,"body":"How are"},{"speaker":"Barney Whiter","startTime":2812.2,"endTime":2814.06,"body":"you? I am very"},{"speaker":"Barney Whiter","startTime":2812.2,"endTime":2814.06,"body":"well indeed."},{"speaker":"Andy Hart","startTime":2815.259,"endTime":2818.139,"body":"Good, good. Where are"},{"speaker":"Andy Hart","startTime":2815.259,"endTime":2818.139,"body":"you speaking to us from today,"},{"speaker":"Barney Whiter","startTime":2818.379,"endTime":2821.439,"body":"from downtown"},{"speaker":"Barney Whiter","startTime":2818.379,"endTime":2821.439,"body":"Farnham, the center of the known"},{"speaker":"Barney Whiter","startTime":2821.439,"endTime":2822.219,"body":"universe."},{"speaker":"Nick Lincoln","startTime":2823.779,"endTime":2825.819,"body":"Superb. That's"},{"speaker":"Nick Lincoln","startTime":2823.779,"endTime":2825.819,"body":"that Hampshire."},{"speaker":"Barney Whiter","startTime":2826.54,"endTime":2828.94,"body":"Hampshire, Surrey"},{"speaker":"Barney Whiter","startTime":2826.54,"endTime":2828.94,"body":"border says, Actually, I'm"},{"speaker":"Barney Whiter","startTime":2828.94,"endTime":2831.6,"body":"actually in Surrey, but it's,"},{"speaker":"Barney Whiter","startTime":2828.94,"endTime":2831.6,"body":"it's close to Hampshire."},{"speaker":"Barney Whiter","startTime":2831.9,"endTime":2832.62,"body":"Hampshire"},{"speaker":"Nick Lincoln","startTime":2832.62,"endTime":2836.1,"body":"is older than, I"},{"speaker":"Nick Lincoln","startTime":2832.62,"endTime":2836.1,"body":"think it's the one of the oldest"},{"speaker":"Nick Lincoln","startTime":2836.1,"endTime":2839.04,"body":"counties, and it's older than"},{"speaker":"Nick Lincoln","startTime":2836.1,"endTime":2839.04,"body":"most of the European countries."},{"speaker":"Nick Lincoln","startTime":2839.4,"endTime":2840.18,"body":"Yeah, that Barney"},{"speaker":"Barney Whiter","startTime":2840.18,"endTime":2845.16,"body":"Winchester is."},{"speaker":"Barney Whiter","startTime":2840.18,"endTime":2845.16,"body":"And, yeah, Winchester is like an"},{"speaker":"Barney Whiter","startTime":2845.22,"endTime":2851.18,"body":"ancient seat of, like, Anglo"},{"speaker":"Barney Whiter","startTime":2845.22,"endTime":2851.18,"body":"Saxon, uh, kings. So I'm trying"},{"speaker":"Barney Whiter","startTime":2851.18,"endTime":2852.98,"body":"to, like, tap into that"},{"speaker":"Barney Whiter","startTime":2851.18,"endTime":2852.98,"body":"tradition,"},{"speaker":"Alan Smith","startTime":2855.679,"endTime":2859.459,"body":"right? Very nice."},{"speaker":"Alan Smith","startTime":2855.679,"endTime":2859.459,"body":"Okay, going, well, so we are,"},{"speaker":"Andy Hart","startTime":2860.12,"endTime":2864.14,"body":"we're going, we'll,"},{"speaker":"Andy Hart","startTime":2860.12,"endTime":2864.14,"body":"we'll get back into the nitty"},{"speaker":"Andy Hart","startTime":2864.14,"endTime":2867.5,"body":"gritty subject of personal"},{"speaker":"Andy Hart","startTime":2864.14,"endTime":2867.5,"body":"finance. So, yeah. So what is"},{"speaker":"Andy Hart","startTime":2867.5,"endTime":2870.7599999999998,"body":"what inspired you to pursue the"},{"speaker":"Andy Hart","startTime":2867.5,"endTime":2870.7599999999998,"body":"fire movement? You know, what"},{"speaker":"Andy Hart","startTime":2870.7599999999998,"endTime":2873.52,"body":"were the biggest challenges you"},{"speaker":"Andy Hart","startTime":2870.7599999999998,"endTime":2873.52,"body":"felt along the way? We'll start"},{"speaker":"Andy Hart","startTime":2873.52,"endTime":2873.88,"body":"with that"},{"speaker":"Barney Whiter","startTime":2874.779,"endTime":2877.959,"body":"one, yeah, well,"},{"speaker":"Barney Whiter","startTime":2874.779,"endTime":2877.959,"body":"I didn't follow the fire"},{"speaker":"Barney Whiter","startTime":2877.959,"endTime":2882.939,"body":"movement, because when I"},{"speaker":"Barney Whiter","startTime":2877.959,"endTime":2882.939,"body":"started, I didn't know any"},{"speaker":"Barney Whiter","startTime":2882.999,"endTime":2887.619,"body":"anything about that. So, I mean,"},{"speaker":"Barney Whiter","startTime":2882.999,"endTime":2887.619,"body":"I got on this. How did I get on"},{"speaker":"Barney Whiter","startTime":2887.619,"endTime":2892.619,"body":"that, on that particular path?"},{"speaker":"Barney Whiter","startTime":2887.619,"endTime":2892.619,"body":"Well, you know, my parents got"},{"speaker":"Barney Whiter","startTime":2892.619,"endTime":2897.239,"body":"into some financial, a little"},{"speaker":"Barney Whiter","startTime":2892.619,"endTime":2897.239,"body":"financial scrape back in the"},{"speaker":"Barney Whiter","startTime":2897.239,"endTime":2902.219,"body":"day. So in 1981 when I was 11,"},{"speaker":"Barney Whiter","startTime":2897.239,"endTime":2902.219,"body":"my parents bought the biggest"},{"speaker":"Barney Whiter","startTime":2902.219,"endTime":2905.879,"body":"house that they could afford,"},{"speaker":"Barney Whiter","startTime":2902.219,"endTime":2905.879,"body":"borrowed as much money as they"},{"speaker":"Barney Whiter","startTime":2905.879,"endTime":2910.379,"body":"could, and that year, that same"},{"speaker":"Barney Whiter","startTime":2905.879,"endTime":2910.379,"body":"year, interest rates went to 17%"},{"speaker":"Barney Whiter","startTime":2910.739,"endTime":2915.319,"body":"and they were a little bit"},{"speaker":"Barney Whiter","startTime":2910.739,"endTime":2915.319,"body":"screwed. And so my dad had to,"},{"speaker":"Barney Whiter","startTime":2915.319,"endTime":2919.999,"body":"like, stop buying beer and brew"},{"speaker":"Barney Whiter","startTime":2915.319,"endTime":2919.999,"body":"his own awful, evil, home brew,"},{"speaker":"Barney Whiter","startTime":2920.599,"endTime":2924.859,"body":"cancel the newspaper. Didn't go"},{"speaker":"Barney Whiter","startTime":2920.599,"endTime":2924.859,"body":"on holiday that year. So my"},{"speaker":"Barney Whiter","startTime":2924.859,"endTime":2927.799,"body":"takeaway from that, you know, it"},{"speaker":"Barney Whiter","startTime":2924.859,"endTime":2927.799,"body":"was fine, you know, we didn't"},{"speaker":"Barney Whiter","startTime":2927.859,"endTime":2931.119,"body":"know. No one died, no one we"},{"speaker":"Barney Whiter","startTime":2927.859,"endTime":2931.119,"body":"didn't, we didn't get made"},{"speaker":"Barney Whiter","startTime":2931.119,"endTime":2935.199,"body":"homeless, but I took from that"},{"speaker":"Barney Whiter","startTime":2931.119,"endTime":2935.199,"body":"little episode that it was kind"},{"speaker":"Barney Whiter","startTime":2935.199,"endTime":2938.5589999999997,"body":"of a bad thing to, like, be in"},{"speaker":"Barney Whiter","startTime":2935.199,"endTime":2938.5589999999997,"body":"debt. It was bad thing if the"},{"speaker":"Barney Whiter","startTime":2938.5589999999997,"endTime":2942.699,"body":"bank can take your house away,"},{"speaker":"Barney Whiter","startTime":2938.5589999999997,"endTime":2942.699,"body":"and it was kind of good if you"},{"speaker":"Barney Whiter","startTime":2988.779,"endTime":2992.319,"body":"could get yourself mortgage"},{"speaker":"Barney Whiter","startTime":2988.779,"endTime":2992.319,"body":"free. And so, like, from that"},{"speaker":"Barney Whiter","startTime":2992.319,"endTime":2996.419,"body":"point onwards, I made a series"},{"speaker":"Barney Whiter","startTime":2992.319,"endTime":2996.419,"body":"of decisions that kind of took"},{"speaker":"Barney Whiter","startTime":2996.419,"endTime":2999.5989999999997,"body":"me in that direction. So I kind"},{"speaker":"Barney Whiter","startTime":2996.419,"endTime":2999.5989999999997,"body":"of followed the money. I"},{"speaker":"Barney Whiter","startTime":2999.5989999999997,"endTime":3004.339,"body":"followed the money, as a lot of"},{"speaker":"Barney Whiter","startTime":2999.5989999999997,"endTime":3004.339,"body":"people did in the 80s and 90s."},{"speaker":"Barney Whiter","startTime":3004.6389999999997,"endTime":3007.939,"body":"So, you know, I chose to do"},{"speaker":"Barney Whiter","startTime":3004.6389999999997,"endTime":3007.939,"body":"economics at uni, and then I"},{"speaker":"Barney Whiter","startTime":3008.239,"endTime":3010.699,"body":"trained as a chartered"},{"speaker":"Barney Whiter","startTime":3008.239,"endTime":3010.699,"body":"accountant, and then I went and"},{"speaker":"Barney Whiter","startTime":3010.699,"endTime":3013.339,"body":"worked in corporate finance. I"},{"speaker":"Barney Whiter","startTime":3010.699,"endTime":3013.339,"body":"followed the money."},{"speaker":"Nick Lincoln","startTime":3015.62,"endTime":3019.6,"body":"Nice. Okay, yeah,"},{"speaker":"Nick Lincoln","startTime":3015.62,"endTime":3019.6,"body":"I looked at you. I looked at"},{"speaker":"Nick Lincoln","startTime":3019.6,"endTime":3022.0,"body":"your website. Barney, really"},{"speaker":"Nick Lincoln","startTime":3019.6,"endTime":3022.0,"body":"nice. Loads of things on there."},{"speaker":"Nick Lincoln","startTime":3022.54,"endTime":3025.3599999999997,"body":"You've got a, if I'm wrong on"},{"speaker":"Nick Lincoln","startTime":3022.54,"endTime":3025.3599999999997,"body":"this, by the way, shoot me down."},{"speaker":"Nick Lincoln","startTime":3025.3599999999997,"endTime":3028.42,"body":"But you've, you've got a you've"},{"speaker":"Nick Lincoln","startTime":3025.3599999999997,"endTime":3028.42,"body":"got a family, yep, okay, because"},{"speaker":"Nick Lincoln","startTime":3028.42,"endTime":3030.7,"body":"one of the things I often think"},{"speaker":"Nick Lincoln","startTime":3028.42,"endTime":3030.7,"body":"about, and it's just me,"},{"speaker":"Nick Lincoln","startTime":3030.7,"endTime":3033.22,"body":"probably because I'm just the"},{"speaker":"Nick Lincoln","startTime":3030.7,"endTime":3033.22,"body":"fire movement, and I know you're"},{"speaker":"Nick Lincoln","startTime":3033.22,"endTime":3035.68,"body":"saying you weren't originally"},{"speaker":"Nick Lincoln","startTime":3033.22,"endTime":3035.68,"body":"inspired by it, but I think"},{"speaker":"Nick Lincoln","startTime":3035.68,"endTime":3038.2799999999997,"body":"you're certainly looked up to"},{"speaker":"Nick Lincoln","startTime":3035.68,"endTime":3038.2799999999997,"body":"within the fire movement, a lot"},{"speaker":"Nick Lincoln","startTime":3038.2799999999997,"endTime":3041.64,"body":"of it seems to be delaying"},{"speaker":"Nick Lincoln","startTime":3038.2799999999997,"endTime":3041.64,"body":"gratification. Now, for for for"},{"speaker":"Nick Lincoln","startTime":3041.64,"endTime":3044.52,"body":"this idea of saving enough that"},{"speaker":"Nick Lincoln","startTime":3041.64,"endTime":3044.52,"body":"you can walk away from work,"},{"speaker":"Nick Lincoln","startTime":3044.8199999999997,"endTime":3049.5,"body":"paid work earlier. Yeah, you"},{"speaker":"Nick Lincoln","startTime":3044.8199999999997,"endTime":3049.5,"body":"seem to have pulled it off. You"},{"speaker":"Nick Lincoln","startTime":3049.5,"endTime":3052.62,"body":"seem to have balanced it. But"},{"speaker":"Nick Lincoln","startTime":3049.5,"endTime":3052.62,"body":"how did you manage that? Okay,"},{"speaker":"Nick Lincoln","startTime":3052.62,"endTime":3055.02,"body":"it's always the easier if you're"},{"speaker":"Nick Lincoln","startTime":3052.62,"endTime":3055.02,"body":"living in your mum's basement,"},{"speaker":"Nick Lincoln","startTime":3055.02,"endTime":3057.2599999999998,"body":"you don't have children, and"},{"speaker":"Nick Lincoln","startTime":3055.02,"endTime":3057.2599999999998,"body":"you're shoveling all your money"},{"speaker":"Nick Lincoln","startTime":3057.2599999999998,"endTime":3060.3199999999997,"body":"into a pension pot of you know,"},{"speaker":"Nick Lincoln","startTime":3057.2599999999998,"endTime":3060.3199999999997,"body":"50% of earnings, or whatever"},{"speaker":"Nick Lincoln","startTime":3060.3199999999997,"endTime":3063.44,"body":"your rule of thumb is, how did"},{"speaker":"Nick Lincoln","startTime":3060.3199999999997,"endTime":3063.44,"body":"you how did you pull it off?"},{"speaker":"Barney Whiter","startTime":3065.0,"endTime":3068.7799999999997,"body":"With some"},{"speaker":"Barney Whiter","startTime":3065.0,"endTime":3068.7799999999997,"body":"difficulty, with some pain, with"},{"speaker":"Barney Whiter","startTime":3068.7799999999997,"endTime":3072.74,"body":"some difficulty, with some"},{"speaker":"Barney Whiter","startTime":3068.7799999999997,"endTime":3072.74,"body":"regrets, with some grief along"},{"speaker":"Barney Whiter","startTime":3072.74,"endTime":3077.08,"body":"the way, with some burnout along"},{"speaker":"Barney Whiter","startTime":3072.74,"endTime":3077.08,"body":"the way. I. And so, yeah, no"},{"speaker":"Barney Whiter","startTime":3077.14,"endTime":3081.22,"body":"one, no one said it was going to"},{"speaker":"Barney Whiter","startTime":3077.14,"endTime":3081.22,"body":"be easy, right? But I, you know,"},{"speaker":"Barney Whiter","startTime":3081.22,"endTime":3089.92,"body":"I, I had three kids, and so, you"},{"speaker":"Barney Whiter","startTime":3081.22,"endTime":3089.92,"body":"know that, in itself, is a big"},{"speaker":"Barney Whiter","startTime":3089.98,"endTime":3095.68,"body":"challenge. And you know, I"},{"speaker":"Barney Whiter","startTime":3089.98,"endTime":3095.68,"body":"wanted to have the best of both"},{"speaker":"Barney Whiter","startTime":3095.68,"endTime":3099.72,"body":"worlds. I wanted to have a sort"},{"speaker":"Barney Whiter","startTime":3095.68,"endTime":3099.72,"body":"of nice middle class lifestyle,"},{"speaker":"Barney Whiter","startTime":3099.7799999999997,"endTime":3104.52,"body":"and I wanted to achieve"},{"speaker":"Barney Whiter","startTime":3099.7799999999997,"endTime":3104.52,"body":"financial freedom the way I kind"},{"speaker":"Barney Whiter","startTime":3104.52,"endTime":3109.8599999999997,"body":"of had, the way I had to square"},{"speaker":"Barney Whiter","startTime":3104.52,"endTime":3109.8599999999997,"body":"that circle was by earning more,"},{"speaker":"Barney Whiter","startTime":3110.94,"endTime":3114.18,"body":"as earning, you know, much more"},{"speaker":"Barney Whiter","startTime":3110.94,"endTime":3114.18,"body":"than, like, an average salary"},{"speaker":"Barney Whiter","startTime":3114.7799999999997,"endTime":3120.56,"body":"and but, but so I was kind of in"},{"speaker":"Barney Whiter","startTime":3114.7799999999997,"endTime":3120.56,"body":"a profession, in a world in a"},{"speaker":"Barney Whiter","startTime":3120.56,"endTime":3123.44,"body":"sort of like middle class"},{"speaker":"Barney Whiter","startTime":3120.56,"endTime":3123.44,"body":"bubble, where people were people"},{"speaker":"Barney Whiter","startTime":3123.44,"endTime":3127.58,"body":"were making a lot more than"},{"speaker":"Barney Whiter","startTime":3123.44,"endTime":3127.58,"body":"normal average income, but I"},{"speaker":"Barney Whiter","startTime":3127.58,"endTime":3133.4,"body":"didn't let my lifestyle inflate"},{"speaker":"Barney Whiter","startTime":3127.58,"endTime":3133.4,"body":"up like a lot of those people"},{"speaker":"Barney Whiter","startTime":3133.46,"endTime":3138.16,"body":"did. So I was kind of earning"},{"speaker":"Barney Whiter","startTime":3133.46,"endTime":3138.16,"body":"high and spending low and"},{"speaker":"Barney Whiter","startTime":3138.16,"endTime":3139.54,"body":"investing the difference."},{"speaker":"Alan Smith","startTime":3140.62,"endTime":3144.22,"body":"Barney, can it? Can"},{"speaker":"Alan Smith","startTime":3140.62,"endTime":3144.22,"body":"I ask you for for the for our"},{"speaker":"Alan Smith","startTime":3144.22,"endTime":3147.4,"body":"audience who aren't familiar"},{"speaker":"Alan Smith","startTime":3144.22,"endTime":3147.4,"body":"with your work? What if you"},{"speaker":"Alan Smith","startTime":3147.4,"endTime":3150.2799999999997,"body":"could summarize what are the"},{"speaker":"Alan Smith","startTime":3147.4,"endTime":3150.2799999999997,"body":"kind of key principles, whether"},{"speaker":"Alan Smith","startTime":3150.2799999999997,"endTime":3154.12,"body":"you call it fire or just your"},{"speaker":"Alan Smith","startTime":3150.2799999999997,"endTime":3154.12,"body":"version of this kind of way you"},{"speaker":"Alan Smith","startTime":3154.12,"endTime":3157.62,"body":"operate? Yeah, what are the few"},{"speaker":"Alan Smith","startTime":3154.12,"endTime":3157.62,"body":"things you would advocate and"},{"speaker":"Alan Smith","startTime":3157.62,"endTime":3159.8399999999997,"body":"you would obviously be writing"},{"speaker":"Alan Smith","startTime":3157.62,"endTime":3159.8399999999997,"body":"and talking about,"},{"speaker":"Barney Whiter","startTime":3159.899,"endTime":3162.5389999999998,"body":"yeah, the four"},{"speaker":"Barney Whiter","startTime":3159.899,"endTime":3162.5389999999998,"body":"principles, the four pillars of"},{"speaker":"Barney Whiter","startTime":3162.5389999999998,"endTime":3167.459,"body":"financial independence are, one,"},{"speaker":"Barney Whiter","startTime":3162.5389999999998,"endTime":3167.459,"body":"earn more. Two, spend less."},{"speaker":"Barney Whiter","startTime":3167.459,"endTime":3173.339,"body":"Three, invest the difference"},{"speaker":"Barney Whiter","startTime":3167.459,"endTime":3173.339,"body":"wisely. And four, know how much"},{"speaker":"Barney Whiter","startTime":3173.339,"endTime":3173.939,"body":"is enough."},{"speaker":"Alan Smith","startTime":3175.92,"endTime":3179.8399999999997,"body":"Okay, and so that"},{"speaker":"Alan Smith","startTime":3175.92,"endTime":3179.8399999999997,"body":"sounds, you know, absolutely,"},{"speaker":"Alan Smith","startTime":3179.8399999999997,"endTime":3182.7799999999997,"body":"perfectly rational and sensible."},{"speaker":"Alan Smith","startTime":3179.8399999999997,"endTime":3182.7799999999997,"body":"And it's probably something that"},{"speaker":"Alan Smith","startTime":3182.7799999999997,"endTime":3188.12,"body":"the four of us and many others"},{"speaker":"Alan Smith","startTime":3182.7799999999997,"endTime":3188.12,"body":"would 100% advocate for. Why is"},{"speaker":"Alan Smith","startTime":3188.12,"endTime":3190.8199999999997,"body":"this considered to be different"},{"speaker":"Alan Smith","startTime":3188.12,"endTime":3190.8199999999997,"body":"to mainstream financial"},{"speaker":"Alan Smith","startTime":3190.8199999999997,"endTime":3193.1,"body":"planning, which is what you"},{"speaker":"Alan Smith","startTime":3190.8199999999997,"endTime":3193.1,"body":"know, that's, it's about"},{"speaker":"Alan Smith","startTime":3193.1,"endTime":3196.16,"body":"accumulating, saving, working"},{"speaker":"Alan Smith","startTime":3193.1,"endTime":3196.16,"body":"out how much is enough and"},{"speaker":"Alan Smith","startTime":3196.16,"endTime":3199.72,"body":"normally, and optimizing for,"},{"speaker":"Alan Smith","startTime":3196.16,"endTime":3199.72,"body":"you know, investing, tax"},{"speaker":"Alan Smith","startTime":3199.72,"endTime":3202.48,"body":"planning, yeah, all those"},{"speaker":"Alan Smith","startTime":3199.72,"endTime":3202.48,"body":"things. Well, I don't know"},{"speaker":"Alan Smith","startTime":3202.48,"endTime":3204.46,"body":"you're not saying you're"},{"speaker":"Alan Smith","startTime":3202.48,"endTime":3204.46,"body":"necessarily the kind of the"},{"speaker":"Alan Smith","startTime":3204.46,"endTime":3207.52,"body":"poster boy for fire, but there's"},{"speaker":"Alan Smith","startTime":3204.46,"endTime":3207.52,"body":"a community who kind of adopt"},{"speaker":"Alan Smith","startTime":3207.52,"endTime":3211.0,"body":"these, these things, yeah, tell"},{"speaker":"Alan Smith","startTime":3207.52,"endTime":3211.0,"body":"me. Tell me what's I'm"},{"speaker":"Alan Smith","startTime":3211.0,"endTime":3213.46,"body":"struggling to find out. What's"},{"speaker":"Alan Smith","startTime":3211.0,"endTime":3213.46,"body":"the difference between what is"},{"speaker":"Alan Smith","startTime":3213.46,"endTime":3215.7999999999997,"body":"just core, sensible financial"},{"speaker":"Alan Smith","startTime":3213.46,"endTime":3215.7999999999997,"body":"planning."},{"speaker":"Barney Whiter","startTime":3217.12,"endTime":3220.7999999999997,"body":"I think it's the"},{"speaker":"Barney Whiter","startTime":3217.12,"endTime":3220.7999999999997,"body":"lengths that people are prepared"},{"speaker":"Barney Whiter","startTime":3220.7999999999997,"endTime":3224.46,"body":"to go to. So Right? It's how"},{"speaker":"Barney Whiter","startTime":3220.7999999999997,"endTime":3224.46,"body":"extreme Are you willing to go?"},{"speaker":"Barney Whiter","startTime":3224.46,"endTime":3227.4,"body":"And I was willing to go extreme."},{"speaker":"Barney Whiter","startTime":3224.46,"endTime":3227.4,"body":"Okay,"},{"speaker":"Alan Smith","startTime":3228.18,"endTime":3231.12,"body":"so, so give us an"},{"speaker":"Alan Smith","startTime":3228.18,"endTime":3231.12,"body":"example of what you did or what"},{"speaker":"Alan Smith","startTime":3231.12,"endTime":3232.02,"body":"you sacrificed."},{"speaker":"Barney Whiter","startTime":3233.04,"endTime":3236.66,"body":"So I mean, in my,"},{"speaker":"Barney Whiter","startTime":3233.04,"endTime":3236.66,"body":"in my, in terms of my the job"},{"speaker":"Barney Whiter","startTime":3236.66,"endTime":3241.1,"body":"that I was doing, you know, I"},{"speaker":"Barney Whiter","startTime":3236.66,"endTime":3241.1,"body":"was a partner of a big firm in"},{"speaker":"Barney Whiter","startTime":3241.1,"endTime":3245.96,"body":"London, and so I'm, you know,"},{"speaker":"Barney Whiter","startTime":3241.1,"endTime":3245.96,"body":"I'm, I'm working, God knows how"},{"speaker":"Barney Whiter","startTime":3245.96,"endTime":3249.68,"body":"many hours a week in like,"},{"speaker":"Barney Whiter","startTime":3245.96,"endTime":3249.68,"body":"mergers and acquisitions advice,"},{"speaker":"Barney Whiter","startTime":3249.68,"endTime":3253.7599999999998,"body":"you know. So I'm, I'm working 80"},{"speaker":"Barney Whiter","startTime":3249.68,"endTime":3253.7599999999998,"body":"hours a week. I'm, you know,"},{"speaker":"Barney Whiter","startTime":3253.8199999999997,"endTime":3258.4,"body":"traveling. I'm staying in hotel"},{"speaker":"Barney Whiter","startTime":3253.8199999999997,"endTime":3258.4,"body":"rooms, you know, not seeing the"},{"speaker":"Barney Whiter","startTime":3258.4,"endTime":3262.3599999999997,"body":"family for quite a lot of the"},{"speaker":"Barney Whiter","startTime":3258.4,"endTime":3262.3599999999997,"body":"time. So I'm, you know, I'm, I'm"},{"speaker":"Barney Whiter","startTime":3262.42,"endTime":3267.22,"body":"earning at, you know, I'm making"},{"speaker":"Barney Whiter","startTime":3262.42,"endTime":3267.22,"body":"those sort of extreme career"},{"speaker":"Barney Whiter","startTime":3267.22,"endTime":3271.54,"body":"decisions. I'm operating in a"},{"speaker":"Barney Whiter","startTime":3267.22,"endTime":3271.54,"body":"sort of an extreme career world,"},{"speaker":"Barney Whiter","startTime":3271.54,"endTime":3275.7999999999997,"body":"and at the same time, then when"},{"speaker":"Barney Whiter","startTime":3271.54,"endTime":3275.7999999999997,"body":"I'm, then when, then when I'm at"},{"speaker":"Barney Whiter","startTime":3275.7999999999997,"endTime":3280.3199999999997,"body":"home at the weekend with, you"},{"speaker":"Barney Whiter","startTime":3275.7999999999997,"endTime":3280.3199999999997,"body":"know, we're going for a walk,"},{"speaker":"Barney Whiter","startTime":3280.3199999999997,"endTime":3284.3399999999997,"body":"you know, we're not going to"},{"speaker":"Barney Whiter","startTime":3280.3199999999997,"endTime":3284.3399999999997,"body":"Alton Towers like we're going"},{"speaker":"Barney Whiter","startTime":3284.3399999999997,"endTime":3287.22,"body":"for a walk in the park and we're"},{"speaker":"Barney Whiter","startTime":3284.3399999999997,"endTime":3287.22,"body":"going for a walk in the woods,"},{"speaker":"Barney Whiter","startTime":3287.22,"endTime":3291.06,"body":"and we're kind of keeping it"},{"speaker":"Barney Whiter","startTime":3287.22,"endTime":3291.06,"body":"natural and wholesome and low"},{"speaker":"Barney Whiter","startTime":3291.06,"endTime":3295.8599999999997,"body":"cost and non consumerist. And"},{"speaker":"Barney Whiter","startTime":3291.06,"endTime":3295.8599999999997,"body":"so, you know, I'm, I don't, I"},{"speaker":"Barney Whiter","startTime":3295.8599999999997,"endTime":3300.74,"body":"mean, I've never, I've never"},{"speaker":"Barney Whiter","startTime":3295.8599999999997,"endTime":3300.74,"body":"paid for, like, a business"},{"speaker":"Barney Whiter","startTime":3300.74,"endTime":3303.56,"body":"great, a business class flight"},{"speaker":"Barney Whiter","startTime":3300.74,"endTime":3303.56,"body":"my life. You know, they don't"},{"speaker":"Barney Whiter","startTime":3303.56,"endTime":3308.42,"body":"intend to. It's just these,"},{"speaker":"Barney Whiter","startTime":3303.56,"endTime":3308.42,"body":"these things that people end up"},{"speaker":"Barney Whiter","startTime":3308.72,"endTime":3314.66,"body":"inflating their their budget to"},{"speaker":"Barney Whiter","startTime":3308.72,"endTime":3314.66,"body":"be able to spend on. Just never"},{"speaker":"Barney Whiter","startTime":3314.66,"endTime":3319.06,"body":"really appealed to me that much"},{"speaker":"Barney Whiter","startTime":3314.66,"endTime":3319.06,"body":"in the first place, and I was"},{"speaker":"Barney Whiter","startTime":3319.06,"endTime":3324.16,"body":"able to kind of negotiate that"},{"speaker":"Barney Whiter","startTime":3319.06,"endTime":3324.16,"body":"with my wife and bring the"},{"speaker":"Barney Whiter","startTime":3324.16,"endTime":3328.8399999999997,"body":"children up in a way that"},{"speaker":"Barney Whiter","startTime":3324.16,"endTime":3328.8399999999997,"body":"avoided, you know, lifestyle"},{"speaker":"Barney Whiter","startTime":3328.8399999999997,"endTime":3331.66,"body":"inflation. So, you know, a"},{"speaker":"Barney Whiter","startTime":3328.8399999999997,"endTime":3331.66,"body":"classic example of that. A lot"},{"speaker":"Barney Whiter","startTime":3331.66,"endTime":3334.96,"body":"of people who were in the job"},{"speaker":"Barney Whiter","startTime":3331.66,"endTime":3334.96,"body":"that I was in would have sent"},{"speaker":"Barney Whiter","startTime":3335.3199999999997,"endTime":3339.7799999999997,"body":"their three kids to private"},{"speaker":"Barney Whiter","startTime":3335.3199999999997,"endTime":3339.7799999999997,"body":"school. And once you're on that"},{"speaker":"Barney Whiter","startTime":3339.7799999999997,"endTime":3343.98,"body":"particular escalator, you're"},{"speaker":"Barney Whiter","startTime":3339.7799999999997,"endTime":3343.98,"body":"making it very, very, very, very"},{"speaker":"Barney Whiter","startTime":3343.98,"endTime":3349.08,"body":"difficult. Unless you're the"},{"speaker":"Barney Whiter","startTime":3343.98,"endTime":3349.08,"body":"sort of guy that that, unless"},{"speaker":"Barney Whiter","startTime":3349.08,"endTime":3352.38,"body":"you're a sort of an entrepreneur"},{"speaker":"Barney Whiter","startTime":3349.08,"endTime":3352.38,"body":"who sold a business, it's it's"},{"speaker":"Barney Whiter","startTime":3352.38,"endTime":3356.24,"body":"really, really hard to put three"},{"speaker":"Barney Whiter","startTime":3352.38,"endTime":3356.24,"body":"kids through private school all"},{"speaker":"Barney Whiter","startTime":3356.24,"endTime":3361.94,"body":"the way and then University, and"},{"speaker":"Barney Whiter","startTime":3356.24,"endTime":3361.94,"body":"so I, you know, I mean, I could"},{"speaker":"Barney Whiter","startTime":3361.94,"endTime":3364.04,"body":"have done that, but if I had"},{"speaker":"Barney Whiter","startTime":3361.94,"endTime":3364.04,"body":"done that, I would have been"},{"speaker":"Barney Whiter","startTime":3364.04,"endTime":3367.52,"body":"locking myself into that world"},{"speaker":"Barney Whiter","startTime":3364.04,"endTime":3367.52,"body":"essentially forever, and I'd"},{"speaker":"Barney Whiter","startTime":3367.52,"endTime":3371.48,"body":"probably now be, you know,"},{"speaker":"Barney Whiter","startTime":3367.52,"endTime":3371.48,"body":"dropped dead of a heart tank and"},{"speaker":"Barney Whiter","startTime":3371.7799999999997,"endTime":3373.46,"body":"or an or be an alcoholic, or"},{"speaker":"Alan Smith","startTime":3374.66,"endTime":3378.8199999999997,"body":"both, or both, um."},{"speaker":"Alan Smith","startTime":3374.66,"endTime":3378.8199999999997,"body":"So in summary, and that's kind"},{"speaker":"Alan Smith","startTime":3378.8199999999997,"endTime":3382.42,"body":"of a dead that's really helpful,"},{"speaker":"Alan Smith","startTime":3378.8199999999997,"endTime":3382.42,"body":"because that clarifies it for"},{"speaker":"Alan Smith","startTime":3382.42,"endTime":3386.14,"body":"me, you, you have just"},{"speaker":"Alan Smith","startTime":3382.42,"endTime":3386.14,"body":"intentional is that is the word,"},{"speaker":"Alan Smith","startTime":3386.14,"endTime":3389.14,"body":"I would say from it, from a very"},{"speaker":"Alan Smith","startTime":3386.14,"endTime":3389.14,"body":"early stage, you knew, like the"},{"speaker":"Alan Smith","startTime":3389.14,"endTime":3394.18,"body":"next 510, 1520, years, to"},{"speaker":"Alan Smith","startTime":3389.14,"endTime":3394.18,"body":"optimize to achieve this. And it"},{"speaker":"Alan Smith","startTime":3394.18,"endTime":3397.2,"body":"was that what you were aiming"},{"speaker":"Alan Smith","startTime":3394.18,"endTime":3397.2,"body":"for this thing called financial"},{"speaker":"Alan Smith","startTime":3397.2,"endTime":3399.8399999999997,"body":"independence, which means you"},{"speaker":"Alan Smith","startTime":3397.2,"endTime":3399.8399999999997,"body":"didn't have to do anything, you"},{"speaker":"Alan Smith","startTime":3399.8399999999997,"endTime":3401.7599999999998,"body":"didn't have to work into"},{"speaker":"Alan Smith","startTime":3399.8399999999997,"endTime":3401.7599999999998,"body":"anything. You'd sufficient"},{"speaker":"Alan Smith","startTime":3401.7599999999998,"endTime":3405.6,"body":"resources that throw off enough"},{"speaker":"Alan Smith","startTime":3401.7599999999998,"endTime":3405.6,"body":"income to satisfy your lifestyle"},{"speaker":"Alan Smith","startTime":3405.6,"endTime":3408.96,"body":"expectations. But you decided to"},{"speaker":"Alan Smith","startTime":3405.6,"endTime":3408.96,"body":"do that you were very conscious,"},{"speaker":"Alan Smith","startTime":3408.96,"endTime":3411.9,"body":"which most people aren't. I have"},{"speaker":"Alan Smith","startTime":3408.96,"endTime":3411.9,"body":"to say about lifestyle creep,"},{"speaker":"Nick Lincoln","startTime":3412.38,"endTime":3414.3599999999997,"body":"well, not just,"},{"speaker":"Nick Lincoln","startTime":3412.38,"endTime":3414.3599999999997,"body":"not just that. Can I just tackle"},{"speaker":"Nick Lincoln","startTime":3414.3599999999997,"endTime":3417.06,"body":"that? Obviously you're you've"},{"speaker":"Nick Lincoln","startTime":3414.3599999999997,"endTime":3417.06,"body":"got a singular mindset. And"},{"speaker":"Nick Lincoln","startTime":3417.06,"endTime":3419.42,"body":"people who do, do do do what"},{"speaker":"Nick Lincoln","startTime":3417.06,"endTime":3419.42,"body":"you've done or doing what you"},{"speaker":"Nick Lincoln","startTime":3419.42,"endTime":3422.72,"body":"did, strong willed, singular"},{"speaker":"Nick Lincoln","startTime":3419.42,"endTime":3422.72,"body":"mindset. But you've also got to"},{"speaker":"Nick Lincoln","startTime":3422.72,"endTime":3425.9,"body":"find a partner who, who's on"},{"speaker":"Nick Lincoln","startTime":3422.72,"endTime":3425.9,"body":"this journey with you and did"},{"speaker":"Nick Lincoln","startTime":3426.2599999999998,"endTime":3428.96,"body":"with a did that ever lead to"},{"speaker":"Nick Lincoln","startTime":3426.2599999999998,"endTime":3428.96,"body":"tensions in terms of, you know,"},{"speaker":"Nick Lincoln","startTime":3431.12,"endTime":3434.66,"body":"you know, it takes two people to"},{"speaker":"Nick Lincoln","startTime":3431.12,"endTime":3434.66,"body":"to plow this furrow?"},{"speaker":"Barney Whiter","startTime":3434.96,"endTime":3437.74,"body":"Yeah, yeah. So,"},{"speaker":"Barney Whiter","startTime":3434.96,"endTime":3437.74,"body":"so that my constant challenge"},{"speaker":"Barney Whiter","startTime":3437.74,"endTime":3440.98,"body":"from my wife is like, what is"},{"speaker":"Barney Whiter","startTime":3437.74,"endTime":3440.98,"body":"the point of all this? Forget"},{"speaker":"Barney Whiter","startTime":3441.04,"endTime":3444.04,"body":"this. What is the point of the"},{"speaker":"Barney Whiter","startTime":3441.04,"endTime":3444.04,"body":"sacrifice? What is the point of"},{"speaker":"Barney Whiter","startTime":3444.04,"endTime":3449.7999999999997,"body":"galaty? We can afford it? Why?"},{"speaker":"Barney Whiter","startTime":3444.04,"endTime":3449.7999999999997,"body":"Why can't we spend it so and so"},{"speaker":"Barney Whiter","startTime":3449.7999999999997,"endTime":3453.58,"body":"I can't. I lost count of how"},{"speaker":"Barney Whiter","startTime":3449.7999999999997,"endTime":3453.58,"body":"many conversations like that we"},{"speaker":"Barney Whiter","startTime":3453.58,"endTime":3458.88,"body":"had. What I was trying to"},{"speaker":"Barney Whiter","startTime":3453.58,"endTime":3458.88,"body":"explain to her is that the job"},{"speaker":"Barney Whiter","startTime":3458.88,"endTime":3463.8599999999997,"body":"that I was doing was like a"},{"speaker":"Barney Whiter","startTime":3458.88,"endTime":3463.8599999999997,"body":"sprint, and I just couldn't see"},{"speaker":"Barney Whiter","startTime":3463.8599999999997,"endTime":3468.12,"body":"myself lasting at that until I'm"},{"speaker":"Barney Whiter","startTime":3463.8599999999997,"endTime":3468.12,"body":"I was 67 I was going to keel"},{"speaker":"Barney Whiter","startTime":3468.12,"endTime":3472.44,"body":"over before that point. And so,"},{"speaker":"Barney Whiter","startTime":3468.12,"endTime":3472.44,"body":"because I was operating in an"},{"speaker":"Barney Whiter","startTime":3472.44,"endTime":3475.7999999999997,"body":"extreme environment, I knew that"},{"speaker":"Barney Whiter","startTime":3472.44,"endTime":3475.7999999999997,"body":"I just I knew it just couldn't"},{"speaker":"Barney Whiter","startTime":3475.7999999999997,"endTime":3480.2599999999998,"body":"run on forever. And when you"},{"speaker":"Barney Whiter","startTime":3475.7999999999997,"endTime":3480.2599999999998,"body":"were, you know, and also I"},{"speaker":"Barney Whiter","startTime":3480.2599999999998,"endTime":3482.96,"body":"looked around me and I was"},{"speaker":"Barney Whiter","startTime":3480.2599999999998,"endTime":3482.96,"body":"looking at my career change"},{"speaker":"Barney Whiter","startTime":3482.96,"endTime":3486.98,"body":"options. And, you know, in some"},{"speaker":"Barney Whiter","startTime":3482.96,"endTime":3486.98,"body":"ways it wasn't, it just wasn't"},{"speaker":"Barney Whiter","startTime":3486.98,"endTime":3490.46,"body":"that easy for me to see a way to"},{"speaker":"Barney Whiter","startTime":3486.98,"endTime":3490.46,"body":"drop down into a sort of middle"},{"speaker":"Barney Whiter","startTime":3490.46,"endTime":3494.6,"body":"ground. And I could see that I"},{"speaker":"Barney Whiter","startTime":3490.46,"endTime":3494.6,"body":"could go and work at McDonald's"},{"speaker":"Barney Whiter","startTime":3494.6,"endTime":3498.52,"body":"or be a barman or something, but"},{"speaker":"Barney Whiter","startTime":3494.6,"endTime":3498.52,"body":"I couldn't quite see a route to"},{"speaker":"Barney Whiter","startTime":3498.52,"endTime":3500.68,"body":"a sort of middle ground,"},{"speaker":"Barney Whiter","startTime":3498.52,"endTime":3500.68,"body":"sensible"},{"speaker":"Unknown","startTime":3502.6,"endTime":3504.7599999999998,"body":"career, alternative,"},{"speaker":"Unknown","startTime":3502.6,"endTime":3504.7599999999998,"body":"alternative."},{"speaker":"Barney Whiter","startTime":3504.8199999999997,"endTime":3510.16,"body":"And so my mindset"},{"speaker":"Barney Whiter","startTime":3504.8199999999997,"endTime":3510.16,"body":"was, whilst I'm in this"},{"speaker":"Barney Whiter","startTime":3510.52,"endTime":3514.18,"body":"situation, I've been given a"},{"speaker":"Barney Whiter","startTime":3510.52,"endTime":3514.18,"body":"gift. I've been given the gift"},{"speaker":"Barney Whiter","startTime":3514.18,"endTime":3518.94,"body":"of high income. It won't last"},{"speaker":"Barney Whiter","startTime":3514.18,"endTime":3518.94,"body":"forever. Let's fix the roof"},{"speaker":"Barney Whiter","startTime":3518.94,"endTime":3522.18,"body":"while the sun is shining. Let's"},{"speaker":"Barney Whiter","startTime":3518.94,"endTime":3522.18,"body":"stash as much as I can. Let's"},{"speaker":"Barney Whiter","startTime":3522.18,"endTime":3525.9,"body":"build originally, I just thought"},{"speaker":"Barney Whiter","startTime":3522.18,"endTime":3525.9,"body":"of it as like getting clearing"},{"speaker":"Barney Whiter","startTime":3525.9,"endTime":3528.48,"body":"the mortgage. Once I've cleared"},{"speaker":"Barney Whiter","startTime":3525.9,"endTime":3528.48,"body":"the mortgage, I was like, Okay,"},{"speaker":"Barney Whiter","startTime":3528.48,"endTime":3535.2,"body":"let's build a redundancy slash"},{"speaker":"Barney Whiter","startTime":3528.48,"endTime":3535.2,"body":"retraining fund. But I just"},{"speaker":"Barney Whiter","startTime":3535.2,"endTime":3538.16,"body":"pushed through until the point"},{"speaker":"Barney Whiter","startTime":3535.2,"endTime":3538.16,"body":"where I was 43 and I'm like, Do"},{"speaker":"Barney Whiter","startTime":3538.16,"endTime":3541.7,"body":"you know what I've done? It? I"},{"speaker":"Barney Whiter","startTime":3538.16,"endTime":3541.7,"body":"can quit. Brilliant"},{"speaker":"Nick Lincoln","startTime":3542.0589999999997,"endTime":3543.919,"body":"Carl, she bring"},{"speaker":"Nick Lincoln","startTime":3542.0589999999997,"endTime":3543.919,"body":"you into the conversation, my"},{"speaker":"Nick Lincoln","startTime":3543.919,"endTime":3544.459,"body":"friend, yeah,"},{"speaker":"Carl Widger","startTime":3544.519,"endTime":3547.459,"body":"everyone is taking"},{"speaker":"Carl Widger","startTime":3544.519,"endTime":3547.459,"body":"a big goal of air now, Barney,"},{"speaker":"Carl Widger","startTime":3547.459,"endTime":3550.819,"body":"because I suppose I've been the"},{"speaker":"Carl Widger","startTime":3547.459,"endTime":3550.819,"body":"one that's been a little bit, I"},{"speaker":"Carl Widger","startTime":3552.0789999999997,"endTime":3554.719,"body":"won't say, critical of the fire"},{"speaker":"Carl Widger","startTime":3552.0789999999997,"endTime":3554.719,"body":"movement, but I've questioned it"},{"speaker":"Carl Widger","startTime":3554.779,"endTime":3557.199,"body":"a little bit, right? And"},{"speaker":"Carl Widger","startTime":3554.779,"endTime":3557.199,"body":"obviously, as financial"},{"speaker":"Carl Widger","startTime":3557.199,"endTime":3560.799,"body":"planners, the the fi bit, I get"},{"speaker":"Carl Widger","startTime":3557.199,"endTime":3560.799,"body":"the financial independence"},{"speaker":"Carl Widger","startTime":3560.799,"endTime":3563.379,"body":"because we're trying to get"},{"speaker":"Carl Widger","startTime":3560.799,"endTime":3563.379,"body":"people to financial independence"},{"speaker":"Carl Widger","startTime":3563.799,"endTime":3567.999,"body":"and as quickly as possible to"},{"speaker":"Carl Widger","startTime":3563.799,"endTime":3567.999,"body":"give them kind of those options."},{"speaker":"Carl Widger","startTime":3567.999,"endTime":3572.379,"body":"It's the retire early piece is"},{"speaker":"Carl Widger","startTime":3567.999,"endTime":3572.379,"body":"the is the bit that I'm a little"},{"speaker":"Carl Widger","startTime":3572.379,"endTime":3575.6189999999997,"body":"bit conflicted with having said"},{"speaker":"Carl Widger","startTime":3572.379,"endTime":3575.6189999999997,"body":"that, I have, I've, I've"},{"speaker":"Carl Widger","startTime":3575.6189999999997,"endTime":3578.459,"body":"listened to a number of your"},{"speaker":"Carl Widger","startTime":3575.6189999999997,"endTime":3578.459,"body":"podcasts in the last while, and"},{"speaker":"Carl Widger","startTime":3578.459,"endTime":3582.299,"body":"you seem, you seem very balanced"},{"speaker":"Carl Widger","startTime":3578.459,"endTime":3582.299,"body":"in it. But I have a couple of"},{"speaker":"Carl Widger","startTime":3582.299,"endTime":3585.779,"body":"questions, and I suppose one of"},{"speaker":"Carl Widger","startTime":3582.299,"endTime":3585.779,"body":"them is, you did speak about,"},{"speaker":"Carl Widger","startTime":3585.779,"endTime":3588.1189999999997,"body":"and you've mentioned it just"},{"speaker":"Carl Widger","startTime":3585.779,"endTime":3588.1189999999997,"body":"you're here today as well, about"},{"speaker":"Carl Widger","startTime":3588.1189999999997,"endTime":3591.659,"body":"kind of burnout, and you nearly,"},{"speaker":"Carl Widger","startTime":3588.1189999999997,"endTime":3591.659,"body":"you know, you got kind of"},{"speaker":"Carl Widger","startTime":3591.659,"endTime":3595.019,"body":"unhealthy, didn't you? And you"},{"speaker":"Carl Widger","startTime":3591.659,"endTime":3595.019,"body":"got yourself in a bit of bother,"},{"speaker":"Carl Widger","startTime":3595.379,"endTime":3600.739,"body":"like, is there is are there"},{"speaker":"Carl Widger","startTime":3595.379,"endTime":3600.739,"body":"sacrifices you think that you"},{"speaker":"Carl Widger","startTime":3600.739,"endTime":3604.519,"body":"went a little bit too far on,"},{"speaker":"Carl Widger","startTime":3600.739,"endTime":3604.519,"body":"and are there? Are there"},{"speaker":"Carl Widger","startTime":3604.519,"endTime":3607.399,"body":"regrets? Are there things that"},{"speaker":"Carl Widger","startTime":3604.519,"endTime":3607.399,"body":"you might have done a little bit"},{"speaker":"Carl Widger","startTime":3607.399,"endTime":3608.899,"body":"differently if you had your time"},{"speaker":"Carl Widger","startTime":3607.399,"endTime":3608.899,"body":"back,"},{"speaker":"Barney Whiter","startTime":3611.0,"endTime":3616.9,"body":"for sure, for"},{"speaker":"Barney Whiter","startTime":3611.0,"endTime":3616.9,"body":"sure. So, I mean, I think"},{"speaker":"Barney Whiter","startTime":3616.96,"endTime":3621.16,"body":"essentially, we're all"},{"speaker":"Barney Whiter","startTime":3616.96,"endTime":3621.16,"body":"converging upon the truth, like"},{"speaker":"Barney Whiter","startTime":3621.16,"endTime":3623.92,"body":"from different directions. So"},{"speaker":"Barney Whiter","startTime":3621.16,"endTime":3623.92,"body":"financial planners, financial"},{"speaker":"Barney Whiter","startTime":3623.92,"endTime":3628.2999999999997,"body":"advisors, people in the fire"},{"speaker":"Barney Whiter","startTime":3623.92,"endTime":3628.2999999999997,"body":"world, I agree with, we're"},{"speaker":"Barney Whiter","startTime":3628.2999999999997,"endTime":3632.74,"body":"trying to get to the truth."},{"speaker":"Barney Whiter","startTime":3628.2999999999997,"endTime":3632.74,"body":"We're trying to get to what"},{"speaker":"Barney Whiter","startTime":3632.74,"endTime":3639.72,"body":"makes sense, what is objectively"},{"speaker":"Barney Whiter","startTime":3632.74,"endTime":3639.72,"body":"real. And, you know, we're"},{"speaker":"Barney Whiter","startTime":3639.72,"endTime":3645.54,"body":"learning as we go. And so I quit"},{"speaker":"Barney Whiter","startTime":3639.72,"endTime":3645.54,"body":"at age 43 quit my job had no you"},{"speaker":"Barney Whiter","startTime":3645.54,"endTime":3647.94,"body":"know, and I didn't know what to"},{"speaker":"Barney Whiter","startTime":3645.54,"endTime":3647.94,"body":"call that. I mean, I've never"},{"speaker":"Barney Whiter","startTime":3647.94,"endTime":3652.02,"body":"called myself retired. I don't"},{"speaker":"Barney Whiter","startTime":3647.94,"endTime":3652.02,"body":"like the word retired. I don't"},{"speaker":"Barney Whiter","startTime":3652.02,"endTime":3658.88,"body":"like the sort of associations it"},{"speaker":"Barney Whiter","startTime":3652.02,"endTime":3658.88,"body":"has, but, but, but I quit, and I"},{"speaker":"Barney Whiter","startTime":3658.88,"endTime":3662.96,"body":"had to just figure out a new"},{"speaker":"Barney Whiter","startTime":3658.88,"endTime":3662.96,"body":"life, and that is pretty"},{"speaker":"Barney Whiter","startTime":3662.96,"endTime":3666.68,"body":"disorientating us, actually. So"},{"speaker":"Barney Whiter","startTime":3662.96,"endTime":3666.68,"body":"this is why don't, this is why"},{"speaker":"Barney Whiter","startTime":3666.68,"endTime":3671.3599999999997,"body":"don't sort of push it onto other"},{"speaker":"Barney Whiter","startTime":3666.68,"endTime":3671.3599999999997,"body":"people. It's quite"},{"speaker":"Barney Whiter","startTime":3671.3599999999997,"endTime":3675.8599999999997,"body":"disorientating to go, as I did,"},{"speaker":"Barney Whiter","startTime":3671.3599999999997,"endTime":3675.8599999999997,"body":"from like very structured life,"},{"speaker":"Barney Whiter","startTime":3675.8599999999997,"endTime":3678.22,"body":"where. I've got to work 80 hours"},{"speaker":"Barney Whiter","startTime":3675.8599999999997,"endTime":3678.22,"body":"a week. I've got this many"},{"speaker":"Barney Whiter","startTime":3678.22,"endTime":3684.64,"body":"meetings to do. I've got to do,"},{"speaker":"Barney Whiter","startTime":3678.22,"endTime":3684.64,"body":"go fly here, fly there, keep the"},{"speaker":"Barney Whiter","startTime":3684.64,"endTime":3688.12,"body":"show on the road. To go from"},{"speaker":"Barney Whiter","startTime":3684.64,"endTime":3688.12,"body":"that to nothing like a clear"},{"speaker":"Barney Whiter","startTime":3688.12,"endTime":3692.74,"body":"diary. You lose your anchor, you"},{"speaker":"Barney Whiter","startTime":3688.12,"endTime":3692.74,"body":"lose you can lose your identity."},{"speaker":"Barney Whiter","startTime":3693.22,"endTime":3695.92,"body":"Yeah, you can lose your"},{"speaker":"Barney Whiter","startTime":3693.22,"endTime":3695.92,"body":"structure. You can lose the sort"},{"speaker":"Barney Whiter","startTime":3695.92,"endTime":3701.3399999999997,"body":"of social, your social peers."},{"speaker":"Barney Whiter","startTime":3695.92,"endTime":3701.3399999999997,"body":"You're the people you work with."},{"speaker":"Barney Whiter","startTime":3701.88,"endTime":3706.92,"body":"And that's like being cut loose"},{"speaker":"Barney Whiter","startTime":3701.88,"endTime":3706.92,"body":"on the ocean in some ways. And"},{"speaker":"Barney Whiter","startTime":3706.92,"endTime":3710.46,"body":"so I did that, and I had to kind"},{"speaker":"Barney Whiter","startTime":3706.92,"endTime":3710.46,"body":"of figure out and, like,"},{"speaker":"Barney Whiter","startTime":3710.46,"endTime":3715.44,"body":"reinvent myself and create a new"},{"speaker":"Barney Whiter","startTime":3710.46,"endTime":3715.44,"body":"life. But that's not very"},{"speaker":"Barney Whiter","startTime":3715.44,"endTime":3715.98,"body":"sensible"},{"speaker":"Unknown","startTime":3715.98,"endTime":3719.42,"body":"way to approach it,"},{"speaker":"Unknown","startTime":3715.98,"endTime":3719.42,"body":"yeah."},{"speaker":"Barney Whiter","startTime":3720.14,"endTime":3722.2999999999997,"body":"And so if I"},{"speaker":"Barney Whiter","startTime":3720.14,"endTime":3722.2999999999997,"body":"wanted to exaggerate for effect,"},{"speaker":"Barney Whiter","startTime":3722.3599999999997,"endTime":3727.64,"body":"I would say early retirement is"},{"speaker":"Barney Whiter","startTime":3722.3599999999997,"endTime":3727.64,"body":"death. Because essentially, if"},{"speaker":"Barney Whiter","startTime":3727.64,"endTime":3732.2599999999998,"body":"you just, you know, lose your"},{"speaker":"Barney Whiter","startTime":3727.64,"endTime":3732.2599999999998,"body":"mission, lose your purpose, cut"},{"speaker":"Barney Whiter","startTime":3732.2599999999998,"endTime":3737.2599999999998,"body":"yourself loose and just like, go"},{"speaker":"Barney Whiter","startTime":3732.2599999999998,"endTime":3737.2599999999998,"body":"to the beach and wait to die."},{"speaker":"Barney Whiter","startTime":3737.44,"endTime":3741.7,"body":"That's like, okay, that's"},{"speaker":"Barney Whiter","startTime":3737.44,"endTime":3741.7,"body":"probably not a great idea for"},{"speaker":"Barney Whiter","startTime":3741.7,"endTime":3741.94,"body":"most"},{"speaker":"Carl Widger","startTime":3741.94,"endTime":3745.18,"body":"people. Yeah, and"},{"speaker":"Carl Widger","startTime":3741.94,"endTime":3745.18,"body":"this is one of the difficulties"},{"speaker":"Carl Widger","startTime":3745.18,"endTime":3747.64,"body":"that I have had. And I love"},{"speaker":"Carl Widger","startTime":3745.18,"endTime":3747.64,"body":"hearing you saying this,"},{"speaker":"Carl Widger","startTime":3747.64,"endTime":3756.7,"body":"because, look, there's in our"},{"speaker":"Carl Widger","startTime":3747.64,"endTime":3756.7,"body":"world, there are extremists, and"},{"speaker":"Carl Widger","startTime":3758.02,"endTime":3761.58,"body":"in your world there are"},{"speaker":"Carl Widger","startTime":3758.02,"endTime":3761.58,"body":"extremists, and I love that you,"},{"speaker":"Carl Widger","startTime":3761.58,"endTime":3764.8199999999997,"body":"you, you make the point that"},{"speaker":"Carl Widger","startTime":3761.58,"endTime":3764.8199999999997,"body":"we're all kind of coming to the"},{"speaker":"Carl Widger","startTime":3764.8199999999997,"endTime":3768.06,"body":"truth together, and we'll kind"},{"speaker":"Carl Widger","startTime":3764.8199999999997,"endTime":3768.06,"body":"of meet in the middle somewhere."},{"speaker":"Carl Widger","startTime":3768.06,"endTime":3771.96,"body":"Because I think everything that"},{"speaker":"Carl Widger","startTime":3768.06,"endTime":3771.96,"body":"I've listened to Barney and the"},{"speaker":"Carl Widger","startTime":3771.96,"endTime":3774.72,"body":"few couple of podcasts I've"},{"speaker":"Carl Widger","startTime":3771.96,"endTime":3774.72,"body":"listened to you in advance of"},{"speaker":"Carl Widger","startTime":3774.72,"endTime":3779.06,"body":"coming on today, I'd say, yeah,"},{"speaker":"Carl Widger","startTime":3774.72,"endTime":3779.06,"body":"I totally agree with Barney,"},{"speaker":"Carl Widger","startTime":3779.06,"endTime":3783.62,"body":"because you've never spoken"},{"speaker":"Carl Widger","startTime":3779.06,"endTime":3783.62,"body":"about, I'm just retiring to the"},{"speaker":"Carl Widger","startTime":3783.62,"endTime":3786.7999999999997,"body":"beach, and that's it, you know."},{"speaker":"Carl Widger","startTime":3783.62,"endTime":3786.7999999999997,"body":"And I suppose my thing always"},{"speaker":"Carl Widger","startTime":3786.7999999999997,"endTime":3791.0,"body":"is, you need a purpose. And"},{"speaker":"Carl Widger","startTime":3786.7999999999997,"endTime":3791.0,"body":"this, I hate that word retire as"},{"speaker":"Carl Widger","startTime":3791.0,"endTime":3794.3599999999997,"body":"well. And I I'm trying to coin"},{"speaker":"Carl Widger","startTime":3791.0,"endTime":3794.3599999999997,"body":"that this phrase, or get"},{"speaker":"Carl Widger","startTime":3794.3599999999997,"endTime":3798.52,"body":"everyone to coin this race third"},{"speaker":"Carl Widger","startTime":3794.3599999999997,"endTime":3798.52,"body":"act. And you know, what does it"},{"speaker":"Carl Widger","startTime":3798.52,"endTime":3802.72,"body":"mean? What, what does getting up"},{"speaker":"Carl Widger","startTime":3798.52,"endTime":3802.72,"body":"in the morning mean? What does"},{"speaker":"Carl Widger","startTime":3802.72,"endTime":3806.08,"body":"it look like? And what's the"},{"speaker":"Carl Widger","startTime":3802.72,"endTime":3806.08,"body":"purpose of that day, that week,"},{"speaker":"Carl Widger","startTime":3806.08,"endTime":3810.88,"body":"that year? And especially as I"},{"speaker":"Carl Widger","startTime":3806.08,"endTime":3810.88,"body":"think, you know, we're all going"},{"speaker":"Carl Widger","startTime":3810.88,"endTime":3814.42,"body":"to live longer, aren't we? And"},{"speaker":"Carl Widger","startTime":3810.88,"endTime":3814.42,"body":"with the, you know, AI is going"},{"speaker":"Carl Widger","startTime":3814.42,"endTime":3817.38,"body":"to help all of that, and the 100"},{"speaker":"Carl Widger","startTime":3814.42,"endTime":3817.38,"body":"year life and all of that kind"},{"speaker":"Carl Widger","startTime":3817.38,"endTime":3821.7,"body":"of stuff. So, you know, trying"},{"speaker":"Carl Widger","startTime":3817.38,"endTime":3821.7,"body":"to match money to live for just"},{"speaker":"Carl Widger","startTime":3821.7,"endTime":3826.74,"body":"a very particular till age 81 is"},{"speaker":"Carl Widger","startTime":3821.7,"endTime":3826.74,"body":"probably, you know, that's a bit"},{"speaker":"Carl Widger","startTime":3826.74,"endTime":3833.58,"body":"of a risk as well. So I think,"},{"speaker":"Carl Widger","startTime":3826.74,"endTime":3833.58,"body":"you know, going going forward,"},{"speaker":"Carl Widger","startTime":3835.38,"endTime":3838.04,"body":"matching the values of what"},{"speaker":"Carl Widger","startTime":3835.38,"endTime":3838.04,"body":"you're saying and what we're"},{"speaker":"Carl Widger","startTime":3838.04,"endTime":3840.7999999999997,"body":"saying. I think that's, that's"},{"speaker":"Carl Widger","startTime":3838.04,"endTime":3840.7999999999997,"body":"kind of the sweet spot. But, you"},{"speaker":"Carl Widger","startTime":3840.7999999999997,"endTime":3845.2999999999997,"body":"know, yeah, I Andy, I'll bring"},{"speaker":"Carl Widger","startTime":3840.7999999999997,"endTime":3845.2999999999997,"body":"you in here, because I'm"},{"speaker":"Carl Widger","startTime":3845.3599999999997,"endTime":3848.96,"body":"thinking we're all actually on"},{"speaker":"Carl Widger","startTime":3845.3599999999997,"endTime":3848.96,"body":"the same page here, just"},{"speaker":"Andy Hart","startTime":3848.959,"endTime":3851.1189999999997,"body":"in your experience."},{"speaker":"Andy Hart","startTime":3848.959,"endTime":3851.1189999999997,"body":"Bonnie, how many people that"},{"speaker":"Andy Hart","startTime":3851.1189999999997,"endTime":3855.259,"body":"have sort of lived the fire"},{"speaker":"Andy Hart","startTime":3851.1189999999997,"endTime":3855.259,"body":"life, have retired with no"},{"speaker":"Andy Hart","startTime":3855.259,"endTime":3858.759,"body":"purpose and have been very"},{"speaker":"Andy Hart","startTime":3855.259,"endTime":3858.759,"body":"unproductive in society. Is that"},{"speaker":"Andy Hart","startTime":3858.879,"endTime":3860.379,"body":"common? Is that rare? Is that"},{"speaker":"Barney Whiter","startTime":3861.04,"endTime":3864.4,"body":"everyone goes"},{"speaker":"Barney Whiter","startTime":3861.04,"endTime":3864.4,"body":"back to work? Everyone goes back"},{"speaker":"Barney Whiter","startTime":3864.4,"endTime":3865.18,"body":"to wow."},{"speaker":"Andy Hart","startTime":3865.239,"endTime":3867.459,"body":"Okay, so they they"},{"speaker":"Andy Hart","startTime":3865.239,"endTime":3867.459,"body":"try it for unretirement. We call"},{"speaker":"Andy Hart","startTime":3867.459,"endTime":3870.459,"body":"it unretirement. The unretire"},{"speaker":"Andy Hart","startTime":3867.459,"endTime":3870.459,"body":"movement is quite big. The fire"},{"speaker":"Andy Hart","startTime":3870.459,"endTime":3872.439,"body":"movement is bigger. The"},{"speaker":"Andy Hart","startTime":3870.459,"endTime":3872.439,"body":"unreturned breaking news"},{"speaker":"Alan Smith","startTime":3874.179,"endTime":3877.0789999999997,"body":"part has been, uh,"},{"speaker":"Alan Smith","startTime":3874.179,"endTime":3877.0789999999997,"body":"back to work."},{"speaker":"Nick Lincoln","startTime":3877.14,"endTime":3879.6,"body":"So before you join"},{"speaker":"Nick Lincoln","startTime":3877.14,"endTime":3879.6,"body":"the show Barney, we were just"},{"speaker":"Nick Lincoln","startTime":3879.66,"endTime":3882.7799999999997,"body":"discussing one US journalist"},{"speaker":"Nick Lincoln","startTime":3879.66,"endTime":3882.7799999999997,"body":"called Ben Carlson, who writes"},{"speaker":"Nick Lincoln","startTime":3882.7799999999997,"endTime":3885.2999999999997,"body":"these blogs, very good. And he"},{"speaker":"Nick Lincoln","startTime":3882.7799999999997,"endTime":3885.2999999999997,"body":"was just about how money is not"},{"speaker":"Nick Lincoln","startTime":3885.2999999999997,"endTime":3887.3399999999997,"body":"everything. And these, these"},{"speaker":"Nick Lincoln","startTime":3885.2999999999997,"endTime":3887.3399999999997,"body":"multi millionaires in the"},{"speaker":"Nick Lincoln","startTime":3887.3399999999997,"endTime":3889.14,"body":"States, they just feel"},{"speaker":"Nick Lincoln","startTime":3887.3399999999997,"endTime":3889.14,"body":"depressed. They're worthless."},{"speaker":"Nick Lincoln","startTime":3889.14,"endTime":3891.18,"body":"They've lost their sense of"},{"speaker":"Nick Lincoln","startTime":3889.14,"endTime":3891.18,"body":"value, their sense of place,"},{"speaker":"Nick Lincoln","startTime":3891.18,"endTime":3893.22,"body":"because they haven't got that"},{"speaker":"Nick Lincoln","startTime":3891.18,"endTime":3893.22,"body":"thing. They've got them out of"},{"speaker":"Nick Lincoln","startTime":3893.22,"endTime":3895.68,"body":"bed. So it's not just about the"},{"speaker":"Nick Lincoln","startTime":3893.22,"endTime":3895.68,"body":"money, isn't it? It's about what"},{"speaker":"Nick Lincoln","startTime":3895.68,"endTime":3897.92,"body":"are you retired NOT WHAT ARE YOU"},{"speaker":"Nick Lincoln","startTime":3895.68,"endTime":3897.92,"body":"retiring from? What are you"},{"speaker":"Nick Lincoln","startTime":3897.92,"endTime":3900.56,"body":"retiring to? And is a horrible"},{"speaker":"Nick Lincoln","startTime":3897.92,"endTime":3900.56,"body":"word, retirement. We try not to"},{"speaker":"Nick Lincoln","startTime":3900.56,"endTime":3902.96,"body":"use it. You know, financial"},{"speaker":"Nick Lincoln","startTime":3900.56,"endTime":3902.96,"body":"independence, whatever you want"},{"speaker":"Nick Lincoln","startTime":3902.96,"endTime":3904.04,"body":"to call it. It's a big it's a"},{"speaker":"Andy Hart","startTime":3904.04,"endTime":3906.14,"body":"big thing. Moving on"},{"speaker":"Andy Hart","startTime":3904.04,"endTime":3906.14,"body":"to the next topic. And I want"},{"speaker":"Andy Hart","startTime":3906.14,"endTime":3908.48,"body":"you to be as honest as you can"},{"speaker":"Andy Hart","startTime":3906.14,"endTime":3908.48,"body":"here, Barney, and I know you"},{"speaker":"Andy Hart","startTime":3908.48,"endTime":3912.14,"body":"will be you've got your own"},{"speaker":"Andy Hart","startTime":3908.48,"endTime":3912.14,"body":"thoughts on the financial advice"},{"speaker":"Andy Hart","startTime":3912.14,"endTime":3917.2,"body":"profession, because you see how"},{"speaker":"Andy Hart","startTime":3912.14,"endTime":3917.2,"body":"we work from the inside from the"},{"speaker":"Andy Hart","startTime":3917.2,"endTime":3920.7999999999997,"body":"clients that you work with. You"},{"speaker":"Andy Hart","startTime":3917.2,"endTime":3920.7999999999997,"body":"know a lot of them. So yeah,"},{"speaker":"Andy Hart","startTime":3920.8599999999997,"endTime":3925.24,"body":"what's your thoughts on the"},{"speaker":"Andy Hart","startTime":3920.8599999999997,"endTime":3925.24,"body":"financial advice, financial"},{"speaker":"Andy Hart","startTime":3925.24,"endTime":3926.74,"body":"planning profession? Be careful"},{"speaker":"Nick Lincoln","startTime":3926.739,"endTime":3928.5389999999998,"body":"with your answers."},{"speaker":"Nick Lincoln","startTime":3926.739,"endTime":3928.5389999999998,"body":"Barney, we like you, but be"},{"speaker":"Nick Lincoln","startTime":3928.5389999999998,"endTime":3928.899,"body":"careful."},{"speaker":"Unknown","startTime":3931.06,"endTime":3932.92,"body":"Be as honest as you can"},{"speaker":"Unknown","startTime":3931.06,"endTime":3932.92,"body":"be. Go for it."},{"speaker":"Barney Whiter","startTime":3934.179,"endTime":3938.879,"body":"So I'm in my"},{"speaker":"Barney Whiter","startTime":3934.179,"endTime":3938.879,"body":"notice period, back in whatever"},{"speaker":"Barney Whiter","startTime":3938.879,"endTime":3944.999,"body":"it was, 2013 2014 and I'm kind"},{"speaker":"Barney Whiter","startTime":3938.879,"endTime":3944.999,"body":"of like looking for something,"},{"speaker":"Barney Whiter","startTime":3945.0589999999997,"endTime":3950.5789999999997,"body":"what's next? Okay? And so as"},{"speaker":"Barney Whiter","startTime":3945.0589999999997,"endTime":3950.5789999999997,"body":"part of that, I toddle along to"},{"speaker":"Barney Whiter","startTime":3950.5789999999997,"endTime":3957.259,"body":"meet the nice people at Saint"},{"speaker":"Barney Whiter","startTime":3950.5789999999997,"endTime":3957.259,"body":"James place. So I taught you"},{"speaker":"Barney Whiter","startTime":3957.259,"endTime":3962.779,"body":"underestimate the power of the"},{"speaker":"Barney Whiter","startTime":3957.259,"endTime":3962.779,"body":"dark side. Here we go. So I go"},{"speaker":"Barney Whiter","startTime":3962.779,"endTime":3966.499,"body":"and talk to the nice people at"},{"speaker":"Barney Whiter","startTime":3962.779,"endTime":3966.499,"body":"St James place, and we talk,"},{"speaker":"Barney Whiter","startTime":3966.5589999999997,"endTime":3969.799,"body":"they have this thing called the"},{"speaker":"Barney Whiter","startTime":3966.5589999999997,"endTime":3969.799,"body":"academy where basically they"},{"speaker":"Barney Whiter","startTime":3969.799,"endTime":3975.379,"body":"train you and they train in"},{"speaker":"Barney Whiter","startTime":3969.799,"endTime":3975.379,"body":"quotes. Still do air quotes, and"},{"speaker":"Barney Whiter","startTime":3975.859,"endTime":3979.899,"body":"the. They essentially, they set"},{"speaker":"Barney Whiter","startTime":3975.859,"endTime":3979.899,"body":"you up as like a self employed"},{"speaker":"Barney Whiter","startTime":3979.899,"endTime":3983.979,"body":"salesman for their for their"},{"speaker":"Barney Whiter","startTime":3979.899,"endTime":3983.979,"body":"products. And they told me at"},{"speaker":"Barney Whiter","startTime":3983.979,"endTime":3988.959,"body":"that time that the average St"},{"speaker":"Barney Whiter","startTime":3983.979,"endTime":3988.959,"body":"James place client was charged,"},{"speaker":"Barney Whiter","startTime":3989.0789999999997,"endTime":3996.779,"body":"was being charged 2.4% 240 basis"},{"speaker":"Barney Whiter","startTime":3989.0789999999997,"endTime":3996.779,"body":"points per annum, to for the"},{"speaker":"Barney Whiter","startTime":3996.779,"endTime":4000.799,"body":"pleasure of their their"},{"speaker":"Barney Whiter","startTime":3996.779,"endTime":4000.799,"body":"services. And I just like, are"},{"speaker":"Barney Whiter","startTime":4000.799,"endTime":4009.019,"body":"you joking? Are you joking me?"},{"speaker":"Barney Whiter","startTime":4000.799,"endTime":4009.019,"body":"And and I saw what those guys"},{"speaker":"Barney Whiter","startTime":4009.019,"endTime":4013.939,"body":"had optimized for, you know,"},{"speaker":"Barney Whiter","startTime":4009.019,"endTime":4013.939,"body":"they were taking I saw the other"},{"speaker":"Barney Whiter","startTime":4013.939,"endTime":4018.819,"body":"people that were applying for"},{"speaker":"Barney Whiter","startTime":4013.939,"endTime":4018.819,"body":"the process. And there were the"},{"speaker":"Barney Whiter","startTime":4018.819,"endTime":4022.899,"body":"ladies were very attractive, and"},{"speaker":"Barney Whiter","startTime":4018.819,"endTime":4022.899,"body":"the guys were very, sort of"},{"speaker":"Barney Whiter","startTime":4022.899,"endTime":4027.459,"body":"sensible looking. And we were"},{"speaker":"Barney Whiter","startTime":4022.899,"endTime":4027.459,"body":"kind of being team. There was"},{"speaker":"Barney Whiter","startTime":4027.459,"endTime":4031.239,"body":"you, and then there was me, and"},{"speaker":"Barney Whiter","startTime":4027.459,"endTime":4031.239,"body":"we were teed up to be actors,"},{"speaker":"Barney Whiter","startTime":4031.239,"endTime":4035.979,"body":"kind of pretending to be"},{"speaker":"Barney Whiter","startTime":4031.239,"endTime":4035.979,"body":"financial advisors. And I'm"},{"speaker":"Barney Whiter","startTime":4035.979,"endTime":4044.0989999999997,"body":"like, This is bullshit, and what"},{"speaker":"Barney Whiter","startTime":4035.979,"endTime":4044.0989999999997,"body":"it but it's but they have"},{"speaker":"Barney Whiter","startTime":4044.0989999999997,"endTime":4047.279,"body":"optimized for marketing so they"},{"speaker":"Barney Whiter","startTime":4044.0989999999997,"endTime":4047.279,"body":"understood marketing better than"},{"speaker":"Barney Whiter","startTime":4047.279,"endTime":4051.239,"body":"any people that I've ever, ever"},{"speaker":"Barney Whiter","startTime":4047.279,"endTime":4051.239,"body":"spoken to, without a doubt. So"},{"speaker":"Barney Whiter","startTime":4051.239,"endTime":4054.479,"body":"they were, they were not done"},{"speaker":"Barney Whiter","startTime":4051.239,"endTime":4054.479,"body":"people at all and very, very"},{"speaker":"Barney Whiter","startTime":4054.479,"endTime":4059.359,"body":"smart people doing things that"},{"speaker":"Barney Whiter","startTime":4054.479,"endTime":4059.359,"body":"were in totally legal with the"},{"speaker":"Barney Whiter","startTime":4059.359,"endTime":4063.019,"body":"with the blessing of the"},{"speaker":"Barney Whiter","startTime":4059.359,"endTime":4063.019,"body":"regulator. I just thought, This"},{"speaker":"Barney Whiter","startTime":4063.019,"endTime":4067.819,"body":"is crazy. This this cannot last."},{"speaker":"Barney Whiter","startTime":4063.019,"endTime":4067.819,"body":"So I kind of expected that"},{"speaker":"Barney Whiter","startTime":4067.819,"endTime":4073.279,"body":"business to struggle, and I've"},{"speaker":"Barney Whiter","startTime":4067.819,"endTime":4073.279,"body":"been amazed at how long it's run"},{"speaker":"Barney Whiter","startTime":4073.279,"endTime":4076.959,"body":"for. Obviously, the times and"},{"speaker":"Barney Whiter","startTime":4073.279,"endTime":4076.959,"body":"the Sunday Times and now got"},{"speaker":"Barney Whiter","startTime":4076.959,"endTime":4080.1389999999997,"body":"their their teeth into their"},{"speaker":"Barney Whiter","startTime":4076.959,"endTime":4080.1389999999997,"body":"leg, but I was amazed at how"},{"speaker":"Barney Whiter","startTime":4080.1389999999997,"endTime":4085.5989999999997,"body":"long that run, so I just came to"},{"speaker":"Barney Whiter","startTime":4080.1389999999997,"endTime":4085.5989999999997,"body":"the conclusion that there was,"},{"speaker":"Barney Whiter","startTime":4085.659,"endTime":4089.439,"body":"shall we say, room for"},{"speaker":"Barney Whiter","startTime":4085.659,"endTime":4089.439,"body":"improvement in the sort of mass"},{"speaker":"Barney Whiter","startTime":4089.439,"endTime":4093.159,"body":"market of financial advice and"},{"speaker":"Barney Whiter","startTime":4089.439,"endTime":4093.159,"body":"wealth management."},{"speaker":"Andy Hart","startTime":4095.08,"endTime":4097.8,"body":"So what do you think"},{"speaker":"Andy Hart","startTime":4095.08,"endTime":4097.8,"body":"about financial advisors."},{"speaker":"Andy Hart","startTime":4097.86,"endTime":4101.88,"body":"Financial Advisors, from a wider"},{"speaker":"Andy Hart","startTime":4097.86,"endTime":4101.88,"body":"sense, rather than just SJP in"},{"speaker":"Andy Hart","startTime":4101.88,"endTime":4104.46,"body":"isolation, do not come across"},{"speaker":"Andy Hart","startTime":4101.88,"endTime":4104.46,"body":"the work that we do in the"},{"speaker":"Andy Hart","startTime":4104.46,"endTime":4106.26,"body":"coaching that you do with your"},{"speaker":"Andy Hart","startTime":4104.46,"endTime":4106.26,"body":"clients or"},{"speaker":"Barney Whiter","startTime":4107.88,"endTime":4109.9800000000005,"body":"so. So"},{"speaker":"Barney Whiter","startTime":4107.88,"endTime":4109.9800000000005,"body":"essentially, the way I see it is"},{"speaker":"Barney Whiter","startTime":4109.9800000000005,"endTime":4114.84,"body":"that it's like, everyone has to,"},{"speaker":"Barney Whiter","startTime":4109.9800000000005,"endTime":4114.84,"body":"like, figure out money. Like,"},{"speaker":"Barney Whiter","startTime":4114.84,"endTime":4117.74,"body":"money is like oxygen. You don't"},{"speaker":"Barney Whiter","startTime":4114.84,"endTime":4117.74,"body":"have a choice whether to deal"},{"speaker":"Barney Whiter","startTime":4117.74,"endTime":4121.9400000000005,"body":"with it or not. So there's, you"},{"speaker":"Barney Whiter","startTime":4117.74,"endTime":4121.9400000000005,"body":"know, however many people, 60,"},{"speaker":"Barney Whiter","startTime":4121.9400000000005,"endTime":4125.84,"body":"70 million people in the UK,"},{"speaker":"Barney Whiter","startTime":4121.9400000000005,"endTime":4125.84,"body":"everyone has to, like, figure"},{"speaker":"Barney Whiter","startTime":4125.84,"endTime":4130.52,"body":"out money. And it's something of"},{"speaker":"Barney Whiter","startTime":4125.84,"endTime":4130.52,"body":"a hostile environment in the"},{"speaker":"Barney Whiter","startTime":4130.52,"endTime":4134.78,"body":"sense that we're, we're plonked"},{"speaker":"Barney Whiter","startTime":4130.52,"endTime":4134.78,"body":"into this world that has been"},{"speaker":"Barney Whiter","startTime":4134.96,"endTime":4140.08,"body":"optimized for marketing"},{"speaker":"Barney Whiter","startTime":4134.96,"endTime":4140.08,"body":"purposes. So, you know, if you,"},{"speaker":"Barney Whiter","startTime":4140.08,"endTime":4143.08,"body":"if you just live in London, and"},{"speaker":"Barney Whiter","startTime":4140.08,"endTime":4143.08,"body":"you go from the tube to your"},{"speaker":"Barney Whiter","startTime":4143.08,"endTime":4147.64,"body":"office, you've passed 100"},{"speaker":"Barney Whiter","startTime":4143.08,"endTime":4147.64,"body":"adverts on the way. You've"},{"speaker":"Barney Whiter","startTime":4147.64,"endTime":4152.02,"body":"passed, you know, 100 shop"},{"speaker":"Barney Whiter","startTime":4147.64,"endTime":4152.02,"body":"fronts, you've passed 100"},{"speaker":"Barney Whiter","startTime":4152.4400000000005,"endTime":4157.2,"body":"opportunities to let the money"},{"speaker":"Barney Whiter","startTime":4152.4400000000005,"endTime":4157.2,"body":"leak out of your life. And so"},{"speaker":"Barney Whiter","startTime":4157.68,"endTime":4162.24,"body":"like, everyone has to, like,"},{"speaker":"Barney Whiter","startTime":4157.68,"endTime":4162.24,"body":"figure out the money game. And"},{"speaker":"Barney Whiter","startTime":4162.24,"endTime":4165.72,"body":"everyone has to decide, well,"},{"speaker":"Barney Whiter","startTime":4162.24,"endTime":4165.72,"body":"can I do this on my own, or do I"},{"speaker":"Barney Whiter","startTime":4165.72,"endTime":4171.9000000000005,"body":"need help? And if you need, you"},{"speaker":"Barney Whiter","startTime":4165.72,"endTime":4171.9000000000005,"body":"know if, and I think, like Andy,"},{"speaker":"Barney Whiter","startTime":4171.9000000000005,"endTime":4175.98,"body":"you've put this very well, like"},{"speaker":"Barney Whiter","startTime":4171.9000000000005,"endTime":4175.98,"body":"you, what you you're you guys"},{"speaker":"Barney Whiter","startTime":4175.98,"endTime":4179.5999999999995,"body":"have the offer. You have the"},{"speaker":"Barney Whiter","startTime":4175.98,"endTime":4179.5999999999995,"body":"regulatory ability to say to"},{"speaker":"Barney Whiter","startTime":4179.5999999999995,"endTime":4183.98,"body":"people, we can do anything. We"},{"speaker":"Barney Whiter","startTime":4179.5999999999995,"endTime":4183.98,"body":"can do anything for you. So you"},{"speaker":"Barney Whiter","startTime":4183.98,"endTime":4186.8,"body":"know you could, you could just"},{"speaker":"Barney Whiter","startTime":4183.98,"endTime":4186.8,"body":"focus on running your business."},{"speaker":"Barney Whiter","startTime":4186.86,"endTime":4191.12,"body":"I'll focus on running your"},{"speaker":"Barney Whiter","startTime":4186.86,"endTime":4191.12,"body":"portfolio. I will think about"},{"speaker":"Barney Whiter","startTime":4191.12,"endTime":4195.26,"body":"your insurance needs. I'll, I'll"},{"speaker":"Barney Whiter","startTime":4191.12,"endTime":4195.26,"body":"just, you can just outsource it"},{"speaker":"Barney Whiter","startTime":4195.26,"endTime":4200.38,"body":"all to me, and so you guys can"},{"speaker":"Barney Whiter","startTime":4195.26,"endTime":4200.38,"body":"do that, and I don't do that,"},{"speaker":"Barney Whiter","startTime":4200.38,"endTime":4203.5,"body":"and I can't do that, and I don't"},{"speaker":"Barney Whiter","startTime":4200.38,"endTime":4203.5,"body":"want to do that. My point is"},{"speaker":"Barney Whiter","startTime":4203.5,"endTime":4207.04,"body":"it's an it's a huge, huge"},{"speaker":"Barney Whiter","startTime":4203.5,"endTime":4207.04,"body":"market, and it kind of makes"},{"speaker":"Barney Whiter","startTime":4207.04,"endTime":4211.18,"body":"sense, if you believe in"},{"speaker":"Barney Whiter","startTime":4207.04,"endTime":4211.18,"body":"capitalism and choice and"},{"speaker":"Barney Whiter","startTime":4211.18,"endTime":4215.5,"body":"freedom. It makes sense for the"},{"speaker":"Barney Whiter","startTime":4211.18,"endTime":4215.5,"body":"consumer to have different"},{"speaker":"Barney Whiter","startTime":4216.5199999999995,"endTime":4217.5599999999995,"body":"options available"},{"speaker":"Carl Widger","startTime":4217.559,"endTime":4221.039,"body":"to and what does"},{"speaker":"Carl Widger","startTime":4217.559,"endTime":4221.039,"body":"the escape artist do then,"},{"speaker":"Carl Widger","startTime":4221.039,"endTime":4223.8589999999995,"body":"Barney, is it. Did you do kind"},{"speaker":"Carl Widger","startTime":4221.039,"endTime":4223.8589999999995,"body":"of one on one coaching with"},{"speaker":"Carl Widger","startTime":4223.8589999999995,"endTime":4227.219,"body":"people who want to try and get"},{"speaker":"Carl Widger","startTime":4223.8589999999995,"endTime":4227.219,"body":"to this financial independence"},{"speaker":"Carl Widger","startTime":4227.219,"endTime":4228.239,"body":"as quickly as possible?"},{"speaker":"Barney Whiter","startTime":4228.299,"endTime":4230.699,"body":"Yes, yes, I do,"},{"speaker":"Barney Whiter","startTime":4228.299,"endTime":4230.699,"body":"okay, but, but what I what I"},{"speaker":"Barney Whiter","startTime":4230.699,"endTime":4234.3589999999995,"body":"figured out pretty quickly, is"},{"speaker":"Barney Whiter","startTime":4230.699,"endTime":4234.3589999999995,"body":"that all the people I was"},{"speaker":"Barney Whiter","startTime":4234.3589999999995,"endTime":4237.199,"body":"talking to, they kind of already"},{"speaker":"Barney Whiter","startTime":4234.3589999999995,"endTime":4237.199,"body":"got the money thing sorted."},{"speaker":"Barney Whiter","startTime":4237.739,"endTime":4241.759,"body":"Okay, so the to the my average"},{"speaker":"Barney Whiter","startTime":4237.739,"endTime":4241.759,"body":"coaching client, I am talking to"},{"speaker":"Barney Whiter","startTime":4241.759,"endTime":4247.879,"body":"them about a mixture of things,"},{"speaker":"Barney Whiter","startTime":4241.759,"endTime":4247.879,"body":"which is largely career, career"},{"speaker":"Barney Whiter","startTime":4247.879,"endTime":4253.759,"body":"change, health burnout, like"},{"speaker":"Barney Whiter","startTime":4247.879,"endTime":4253.759,"body":"life decisions, moving country."},{"speaker":"Barney Whiter","startTime":4253.999,"endTime":4257.559,"body":"And they also, and they also"},{"speaker":"Barney Whiter","startTime":4253.999,"endTime":4257.559,"body":"want to talk about, you know,"},{"speaker":"Barney Whiter","startTime":4257.559,"endTime":4261.579,"body":"what they're investing their"},{"speaker":"Barney Whiter","startTime":4257.559,"endTime":4261.579,"body":"money in, but they don't want me"},{"speaker":"Barney Whiter","startTime":4261.579,"endTime":4262.839,"body":"to tell them what to do."},{"speaker":"Carl Widger","startTime":4263.379,"endTime":4265.659,"body":"Okay? And"},{"speaker":"Carl Widger","startTime":4263.379,"endTime":4265.659,"body":"typically, what, what does that"},{"speaker":"Carl Widger","startTime":4265.659,"endTime":4269.559,"body":"look like? Do you like engage"},{"speaker":"Carl Widger","startTime":4265.659,"endTime":4269.559,"body":"with them over a period of, kind"},{"speaker":"Carl Widger","startTime":4269.559,"endTime":4273.2789999999995,"body":"of 12 months or or is that"},{"speaker":"Carl Widger","startTime":4269.559,"endTime":4273.2789999999995,"body":"entirely up to the client? Or"},{"speaker":"Carl Widger","startTime":4273.2789999999995,"endTime":4274.959,"body":"how does that work? Yeah,"},{"speaker":"Barney Whiter","startTime":4274.96,"endTime":4278.22,"body":"so that's. It's,"},{"speaker":"Barney Whiter","startTime":4274.96,"endTime":4278.22,"body":"it's up to the client. But, I"},{"speaker":"Barney Whiter","startTime":4278.22,"endTime":4284.46,"body":"mean, yeah, but what I what I"},{"speaker":"Barney Whiter","startTime":4278.22,"endTime":4284.46,"body":"realized, is that if, if someone"},{"speaker":"Barney Whiter","startTime":4284.46,"endTime":4287.34,"body":"is, let's say some, someone"},{"speaker":"Barney Whiter","startTime":4284.46,"endTime":4287.34,"body":"might come to me and they're,"},{"speaker":"Barney Whiter","startTime":4287.4,"endTime":4289.74,"body":"you know, they're burnt out."},{"speaker":"Barney Whiter","startTime":4287.4,"endTime":4289.74,"body":"They're trapped in a job that"},{"speaker":"Barney Whiter","startTime":4289.74,"endTime":4294.0599999999995,"body":"they that is kind of burning"},{"speaker":"Barney Whiter","startTime":4289.74,"endTime":4294.0599999999995,"body":"them out or running them down,"},{"speaker":"Barney Whiter","startTime":4294.72,"endTime":4299.48,"body":"and like, there's no immediate"},{"speaker":"Barney Whiter","startTime":4294.72,"endTime":4299.48,"body":"exit from that, like, that's a"},{"speaker":"Barney Whiter","startTime":4299.48,"endTime":4304.88,"body":"period of time and a period of"},{"speaker":"Barney Whiter","startTime":4299.48,"endTime":4304.88,"body":"work that needs to be done, and"},{"speaker":"Barney Whiter","startTime":4304.88,"endTime":4309.32,"body":"that might include some health"},{"speaker":"Barney Whiter","startTime":4304.88,"endTime":4309.32,"body":"changes, that might include some"},{"speaker":"Barney Whiter","startTime":4310.5199999999995,"endTime":4314.78,"body":"some research that might include"},{"speaker":"Barney Whiter","startTime":4310.5199999999995,"endTime":4314.78,"body":"need some like, brainstorming"},{"speaker":"Barney Whiter","startTime":4314.78,"endTime":4318.94,"body":"about what else that person can"},{"speaker":"Barney Whiter","startTime":4314.78,"endTime":4318.94,"body":"do that might require some like"},{"speaker":"Barney Whiter","startTime":4318.94,"endTime":4322.66,"body":"looking at, you know, their"},{"speaker":"Barney Whiter","startTime":4318.94,"endTime":4322.66,"body":"their financial setup,"},{"speaker":"Carl Widger","startTime":4323.74,"endTime":4327.64,"body":"yeah, so that's"},{"speaker":"Carl Widger","startTime":4323.74,"endTime":4327.64,"body":"more holistic, so than just fi,"},{"speaker":"Carl Widger","startTime":4327.64,"endTime":4332.5,"body":"yeah, yeah, okay, and just from"},{"speaker":"Carl Widger","startTime":4327.64,"endTime":4332.5,"body":"a from a financial planner,"},{"speaker":"Carl Widger","startTime":4332.5,"endTime":4335.62,"body":"financial advisor point of view."},{"speaker":"Carl Widger","startTime":4332.5,"endTime":4335.62,"body":"Is there a big demand for this"},{"speaker":"Carl Widger","startTime":4335.62,"endTime":4336.9,"body":"service? No,"},{"speaker":"Barney Whiter","startTime":4336.9,"endTime":4339.0,"body":"no, not really,"},{"speaker":"Barney Whiter","startTime":4336.9,"endTime":4339.0,"body":"no. It's a terrible business"},{"speaker":"Barney Whiter","startTime":4339.0,"endTime":4339.36,"body":"model."},{"speaker":"Unknown","startTime":4343.439,"endTime":4344.579,"body":"He used to"},{"speaker":"Alan Smith","startTime":4348.78,"endTime":4349.92,"body":"go back to work"},{"speaker":"Alan Smith","startTime":4348.78,"endTime":4349.92,"body":"again soon."},{"speaker":"Barney Whiter","startTime":4351.84,"endTime":4353.76,"body":"No, I would have"},{"speaker":"Barney Whiter","startTime":4351.84,"endTime":4353.76,"body":"been. I remember, I went to see"},{"speaker":"Barney Whiter","startTime":4353.76,"endTime":4356.34,"body":"the St James place, and they"},{"speaker":"Barney Whiter","startTime":4353.76,"endTime":4356.34,"body":"said, like, Oh, our average"},{"speaker":"Barney Whiter","startTime":4356.7,"endTime":4360.32,"body":"person, they spend like, two or"},{"speaker":"Barney Whiter","startTime":4356.7,"endTime":4360.32,"body":"three months in Barbados or"},{"speaker":"Barney Whiter","startTime":4360.32,"endTime":4363.44,"body":"skiing in Chamonix or whatever,"},{"speaker":"Barney Whiter","startTime":4360.32,"endTime":4363.44,"body":"and I'm like, oh, that sounds"},{"speaker":"Barney Whiter","startTime":4363.44,"endTime":4369.62,"body":"good. Yeah, 2.4% a year. Yeah?"},{"speaker":"Barney Whiter","startTime":4363.44,"endTime":4369.62,"body":"Why that's a better business"},{"speaker":"Barney Whiter","startTime":4369.62,"endTime":4372.74,"body":"model? Yeah, so mine's a"},{"speaker":"Barney Whiter","startTime":4369.62,"endTime":4372.74,"body":"terrible business model. Mine's"},{"speaker":"Alan Smith","startTime":4375.62,"endTime":4379.54,"body":"awful. Yeah?"},{"speaker":"Alan Smith","startTime":4375.62,"endTime":4379.54,"body":"Interesting. Bonnie, can I just"},{"speaker":"Alan Smith","startTime":4379.54,"endTime":4382.48,"body":"ask you something specific? You"},{"speaker":"Alan Smith","startTime":4379.54,"endTime":4382.48,"body":"said there that the people come"},{"speaker":"Alan Smith","startTime":4382.48,"endTime":4384.46,"body":"to you and they're off, they've"},{"speaker":"Alan Smith","startTime":4382.48,"endTime":4384.46,"body":"kind of got the money thing"},{"speaker":"Alan Smith","startTime":4384.46,"endTime":4387.46,"body":"worked out in many ways. But"},{"speaker":"Alan Smith","startTime":4384.46,"endTime":4387.46,"body":"just just to clarify, and what"},{"speaker":"Alan Smith","startTime":4387.46,"endTime":4391.54,"body":"strikes me is you're all about"},{"speaker":"Alan Smith","startTime":4387.46,"endTime":4391.54,"body":"optimizing in every way and"},{"speaker":"Alan Smith","startTime":4391.54,"endTime":4394.96,"body":"avoiding leakage, if we call it"},{"speaker":"Alan Smith","startTime":4391.54,"endTime":4394.96,"body":"in terms of just costs and"},{"speaker":"Alan Smith","startTime":4394.96,"endTime":4399.0,"body":"lifestyle. All that 100,000 does"},{"speaker":"Alan Smith","startTime":4394.96,"endTime":4399.0,"body":"that? I mean, I'm not trying to"},{"speaker":"Alan Smith","startTime":4399.0,"endTime":4402.5999999999995,"body":"feed you the answer, but"},{"speaker":"Alan Smith","startTime":4399.0,"endTime":4402.5999999999995,"body":"ultimately, where does that lead"},{"speaker":"Alan Smith","startTime":4402.5999999999995,"endTime":4407.16,"body":"you to deploy your investable"},{"speaker":"Alan Smith","startTime":4402.5999999999995,"endTime":4407.16,"body":"capital? What sort of funds,"},{"speaker":"Alan Smith","startTime":4407.16,"endTime":4411.3,"body":"investments structures, Where"},{"speaker":"Alan Smith","startTime":4407.16,"endTime":4411.3,"body":"does money end up in your life"},{"speaker":"Alan Smith","startTime":4411.3,"endTime":4412.86,"body":"on the likes the lives of your"},{"speaker":"Alan Smith","startTime":4411.3,"endTime":4412.86,"body":"clients?"},{"speaker":"Barney Whiter","startTime":4413.339,"endTime":4416.299,"body":"So for me, I've"},{"speaker":"Barney Whiter","startTime":4413.339,"endTime":4416.299,"body":"just got a very simple, like"},{"speaker":"Barney Whiter","startTime":4416.299,"endTime":4421.039,"body":"asset allocation, like framework"},{"speaker":"Barney Whiter","startTime":4416.299,"endTime":4421.039,"body":"in my head, which is, it can"},{"speaker":"Barney Whiter","startTime":4421.039,"endTime":4425.839,"body":"just be as simple as you have an"},{"speaker":"Barney Whiter","startTime":4421.039,"endTime":4425.839,"body":"emergency fund, you own a house,"},{"speaker":"Barney Whiter","startTime":4426.019,"endTime":4429.799,"body":"I mean, ideally without a"},{"speaker":"Barney Whiter","startTime":4426.019,"endTime":4429.799,"body":"mortgage, and then everything"},{"speaker":"Barney Whiter","startTime":4429.799,"endTime":4435.619,"body":"else just goes into, like,"},{"speaker":"Barney Whiter","startTime":4429.799,"endTime":4435.619,"body":"Vanguard global equities, ETF"},{"speaker":"Barney Whiter","startTime":4436.399,"endTime":4440.559,"body":"and so like that. I'm not saying"},{"speaker":"Barney Whiter","startTime":4436.399,"endTime":4440.559,"body":"everyone else should do that."},{"speaker":"Barney Whiter","startTime":4440.559,"endTime":4443.139,"body":"I'm not saying else everyone"},{"speaker":"Barney Whiter","startTime":4440.559,"endTime":4443.139,"body":"else has to do that, but it"},{"speaker":"Barney Whiter","startTime":4443.379,"endTime":4446.499,"body":"should. It can be made because"},{"speaker":"Barney Whiter","startTime":4443.379,"endTime":4446.499,"body":"it'd be right if he said that."},{"speaker":"Barney Whiter","startTime":4446.559,"endTime":4448.059,"body":"It can be made that simple,"},{"speaker":"Alan Smith","startTime":4448.3589999999995,"endTime":4451.659,"body":"yeah, yeah. What"},{"speaker":"Alan Smith","startTime":4448.3589999999995,"endTime":4451.659,"body":"really strikes me is that you"},{"speaker":"Alan Smith","startTime":4451.659,"endTime":4455.019,"body":"are you effectively, you're kind"},{"speaker":"Alan Smith","startTime":4451.659,"endTime":4455.019,"body":"of an industry outsider, but"},{"speaker":"Alan Smith","startTime":4455.019,"endTime":4457.619,"body":"you've had a very close and"},{"speaker":"Alan Smith","startTime":4455.019,"endTime":4457.619,"body":"continue to have a very close"},{"speaker":"Alan Smith","startTime":4457.619,"endTime":4460.799,"body":"look at the inside of the"},{"speaker":"Alan Smith","startTime":4457.619,"endTime":4460.799,"body":"industry. And it's a constant"},{"speaker":"Alan Smith","startTime":4460.799,"endTime":4464.579,"body":"theme that we talk about, and"},{"speaker":"Alan Smith","startTime":4460.799,"endTime":4464.579,"body":"you know, again, the advertising"},{"speaker":"Alan Smith","startTime":4464.579,"endTime":4467.459,"body":"you talk about, the promotions"},{"speaker":"Alan Smith","startTime":4464.579,"endTime":4467.459,"body":"everywhere, the this is an"},{"speaker":"Alan Smith","startTime":4467.459,"endTime":4470.399,"body":"industry that loves to"},{"speaker":"Alan Smith","startTime":4467.459,"endTime":4470.399,"body":"complicate things and make"},{"speaker":"Alan Smith","startTime":4470.399,"endTime":4474.059,"body":"things sound much more"},{"speaker":"Alan Smith","startTime":4470.399,"endTime":4474.059,"body":"confusing, because you Mr. Mr."},{"speaker":"Alan Smith","startTime":4474.419,"endTime":4477.259,"body":"You know, punter investor, you"},{"speaker":"Alan Smith","startTime":4474.419,"endTime":4477.259,"body":"don't understand this stuff."},{"speaker":"Alan Smith","startTime":4477.259,"endTime":4480.079,"body":"Leave it to us. Leave the"},{"speaker":"Alan Smith","startTime":4477.259,"endTime":4480.079,"body":"preference. But if you were to"},{"speaker":"Alan Smith","startTime":4480.079,"endTime":4483.439,"body":"just remove all that first"},{"speaker":"Alan Smith","startTime":4480.079,"endTime":4483.439,"body":"principles thinking, distill it"},{"speaker":"Alan Smith","startTime":4483.439,"endTime":4485.959,"body":"all down. So just what are we"},{"speaker":"Alan Smith","startTime":4483.439,"endTime":4485.959,"body":"trying to achieve here? Which is"},{"speaker":"Alan Smith","startTime":4486.019,"endTime":4489.139,"body":"we all as as we've all agreed,"},{"speaker":"Alan Smith","startTime":4486.019,"endTime":4489.139,"body":"financial independence is a good"},{"speaker":"Alan Smith","startTime":4489.139,"endTime":4493.159,"body":"thing. It creates freedom,"},{"speaker":"Alan Smith","startTime":4489.139,"endTime":4493.159,"body":"opportunity and peace of mind,"},{"speaker":"Alan Smith","startTime":4493.159,"endTime":4495.679,"body":"all those good things. So how do"},{"speaker":"Alan Smith","startTime":4493.159,"endTime":4495.679,"body":"you what's the best way? So what"},{"speaker":"Alan Smith","startTime":4495.679,"endTime":4498.639,"body":"you realize, what we've all come"},{"speaker":"Alan Smith","startTime":4495.679,"endTime":4498.639,"body":"to conclusion, and we're all on"},{"speaker":"Alan Smith","startTime":4498.639,"endTime":4501.159,"body":"the same page. It is those"},{"speaker":"Alan Smith","startTime":4498.639,"endTime":4501.159,"body":"things. It's trying to, you"},{"speaker":"Alan Smith","startTime":4501.159,"endTime":4505.299,"body":"know, remove or reduce debt, you"},{"speaker":"Alan Smith","startTime":4501.159,"endTime":4505.299,"body":"know, own your house, have cash"},{"speaker":"Alan Smith","startTime":4505.299,"endTime":4509.139,"body":"on hand, and then invest the"},{"speaker":"Alan Smith","startTime":4505.299,"endTime":4509.139,"body":"long term using, you know, the"},{"speaker":"Alan Smith","startTime":4509.139,"endTime":4513.699,"body":"lowest cost means of engaging"},{"speaker":"Alan Smith","startTime":4509.139,"endTime":4513.699,"body":"with that. Let me throw a little"},{"speaker":"Alan Smith","startTime":4513.699,"endTime":4517.619,"body":"curve ball at you on that, on"},{"speaker":"Alan Smith","startTime":4513.699,"endTime":4517.619,"body":"the same, broadly, same subject."},{"speaker":"Alan Smith","startTime":4517.619,"endTime":4520.079,"body":"But it's, it's come up a couple"},{"speaker":"Alan Smith","startTime":4517.619,"endTime":4520.079,"body":"of times on this podcast. It"},{"speaker":"Alan Smith","startTime":4520.079,"endTime":4522.899,"body":"will again. What are your"},{"speaker":"Alan Smith","startTime":4520.079,"endTime":4522.899,"body":"thoughts on Bitcoin?"},{"speaker":"Barney Whiter","startTime":4524.64,"endTime":4530.76,"body":"Yes, so I was,"},{"speaker":"Barney Whiter","startTime":4524.64,"endTime":4530.76,"body":"like crypto Bitcoin skeptic for"},{"speaker":"Barney Whiter","startTime":4530.82,"endTime":4536.78,"body":"years and years and years, and I"},{"speaker":"Barney Whiter","startTime":4530.82,"endTime":4536.78,"body":"only got into, I only basically"},{"speaker":"Barney Whiter","startTime":4536.78,"endTime":4542.66,"body":"flipped in 2021 so 2021 I"},{"speaker":"Barney Whiter","startTime":4536.78,"endTime":4542.66,"body":"thought I bought my first 100"},{"speaker":"Barney Whiter","startTime":4542.66,"endTime":4546.92,"body":"pounds worth of bitcoin, and I"},{"speaker":"Barney Whiter","startTime":4542.66,"endTime":4546.92,"body":"went down the crypto rabbit"},{"speaker":"Barney Whiter","startTime":4546.92,"endTime":4551.5999999999995,"body":"hole, and I, I've been, you"},{"speaker":"Barney Whiter","startTime":4546.92,"endTime":4551.5999999999995,"body":"know, pretty obsessed with it"},{"speaker":"Barney Whiter","startTime":4551.66,"endTime":4556.66,"body":"ever since. So, like, I've not,"},{"speaker":"Barney Whiter","startTime":4551.66,"endTime":4556.66,"body":"I, you know, I'm not again. I'm"},{"speaker":"Barney Whiter","startTime":4556.66,"endTime":4559.24,"body":"not pushing it on other people,"},{"speaker":"Barney Whiter","startTime":4556.66,"endTime":4559.24,"body":"blah, blah, blah, blah, blah,"},{"speaker":"Barney Whiter","startTime":4559.66,"endTime":4565.66,"body":"but it is going to but"},{"speaker":"Barney Whiter","startTime":4559.66,"endTime":4565.66,"body":"essentially, this is like a huge"},{"speaker":"Barney Whiter","startTime":4565.66,"endTime":4571.18,"body":"historical like moment. It's a"},{"speaker":"Barney Whiter","startTime":4565.66,"endTime":4571.18,"body":"huge historical change. What"},{"speaker":"Barney Whiter","startTime":4571.24,"endTime":4577.44,"body":"Bitcoin represents is the"},{"speaker":"Barney Whiter","startTime":4571.24,"endTime":4577.44,"body":"separation of. Money and state,"},{"speaker":"Barney Whiter","startTime":4577.8,"endTime":4583.08,"body":"yeah, and, you know, just like,"},{"speaker":"Barney Whiter","startTime":4577.8,"endTime":4583.08,"body":"you know, back in the like"},{"speaker":"Barney Whiter","startTime":4583.08,"endTime":4585.9,"body":"reformation, you had this sort"},{"speaker":"Barney Whiter","startTime":4583.08,"endTime":4585.9,"body":"of, this idea of the separation"},{"speaker":"Barney Whiter","startTime":4585.9,"endTime":4589.2,"body":"of church and state, like this"},{"speaker":"Barney Whiter","startTime":4585.9,"endTime":4589.2,"body":"is kind of a similar moment in a"},{"speaker":"Barney Whiter","startTime":4589.2,"endTime":4593.28,"body":"similarly big thing in history,"},{"speaker":"Barney Whiter","startTime":4589.2,"endTime":4593.28,"body":"that the the separation of money"},{"speaker":"Barney Whiter","startTime":4593.28,"endTime":4598.4,"body":"and state, and so the the idea"},{"speaker":"Barney Whiter","startTime":4593.28,"endTime":4598.4,"body":"that you can have a store of"},{"speaker":"Barney Whiter","startTime":4598.4,"endTime":4607.82,"body":"value that cannot be arbitrarily"},{"speaker":"Barney Whiter","startTime":4598.4,"endTime":4607.82,"body":"inflated, debased, confiscated"},{"speaker":"Barney Whiter","startTime":4609.08,"endTime":4614.3,"body":"from you by a powerful"},{"speaker":"Barney Whiter","startTime":4609.08,"endTime":4614.3,"body":"government is a game changer."},{"speaker":"Alan Smith","startTime":4616.28,"endTime":4618.34,"body":"Interesting, that's"},{"speaker":"Alan Smith","startTime":4616.28,"endTime":4618.34,"body":"a good answer. That's, that's a"},{"speaker":"Alan Smith","startTime":4618.34,"endTime":4620.68,"body":"considered answer. Thought you'd"},{"speaker":"Alan Smith","startTime":4618.34,"endTime":4620.68,"body":"might, might say that. And yes,"},{"speaker":"Alan Smith","startTime":4620.68,"endTime":4623.2,"body":"it's a subject we'll come back"},{"speaker":"Alan Smith","startTime":4620.68,"endTime":4623.2,"body":"to. It was very interesting to"},{"speaker":"Alan Smith","startTime":4623.2,"endTime":4627.7,"body":"get your take on it as you are."},{"speaker":"Alan Smith","startTime":4623.2,"endTime":4627.7,"body":"You're not sort of conflicted by"},{"speaker":"Alan Smith","startTime":4627.7,"endTime":4630.34,"body":"this industry that we're, that"},{"speaker":"Alan Smith","startTime":4627.7,"endTime":4630.34,"body":"we're in, and the regulated"},{"speaker":"Alan Smith","startTime":4630.34,"endTime":4633.5199999999995,"body":"industry who's got a particular"},{"speaker":"Alan Smith","startTime":4630.34,"endTime":4633.5199999999995,"body":"mindset. You're just coming at"},{"speaker":"Alan Smith","startTime":4633.5199999999995,"endTime":4636.82,"body":"this from a, you know, from an"},{"speaker":"Alan Smith","startTime":4633.5199999999995,"endTime":4636.82,"body":"open mind, I suppose. What does"},{"speaker":"Alan Smith","startTime":4636.82,"endTime":4639.0599999999995,"body":"this mean? What is it? And"},{"speaker":"Alan Smith","startTime":4636.82,"endTime":4639.0599999999995,"body":"you've obviously done the work"},{"speaker":"Alan Smith","startTime":4639.0599999999995,"endTime":4641.82,"body":"to understand it more. So it's,"},{"speaker":"Alan Smith","startTime":4639.0599999999995,"endTime":4641.82,"body":"it's interesting that that"},{"speaker":"Alan Smith","startTime":4641.82,"endTime":4643.5,"body":"that's, that's your view. Nick,"},{"speaker":"Nick Lincoln","startTime":4643.74,"endTime":4645.42,"body":"we've, I'm"},{"speaker":"Nick Lincoln","startTime":4643.74,"endTime":4645.42,"body":"conscious that we've taken,"},{"speaker":"Nick Lincoln","startTime":4645.42,"endTime":4647.7,"body":"we've taken quite a bit of"},{"speaker":"Nick Lincoln","startTime":4645.42,"endTime":4647.7,"body":"Barney's time, and he's actually"},{"speaker":"Nick Lincoln","startTime":4647.7,"endTime":4650.46,"body":"in the office now working on"},{"speaker":"Nick Lincoln","startTime":4647.7,"endTime":4650.46,"body":"another m and a deal. He's only"},{"speaker":"Nick Lincoln","startTime":4650.46,"endTime":4654.0,"body":"with us because he got an"},{"speaker":"Nick Lincoln","startTime":4650.46,"endTime":4654.0,"body":"extended tea break from the"},{"speaker":"Nick Lincoln","startTime":4654.0,"endTime":4658.04,"body":"boss. Barney. Barney, Barney,"},{"speaker":"Nick Lincoln","startTime":4654.0,"endTime":4658.04,"body":"thank you so much for that,"},{"speaker":"Nick Lincoln","startTime":4658.04,"endTime":4660.32,"body":"fella. Do you want to hang"},{"speaker":"Nick Lincoln","startTime":4658.04,"endTime":4660.32,"body":"around for we What about another"},{"speaker":"Nick Lincoln","startTime":4660.32,"endTime":4662.5999999999995,"body":"20 minutes of the show to go?"},{"speaker":"Nick Lincoln","startTime":4660.32,"endTime":4662.5999999999995,"body":"Some more segments. You're"},{"speaker":"Nick Lincoln","startTime":4662.5999999999995,"endTime":4664.22,"body":"welcome to hang around and"},{"speaker":"Nick Lincoln","startTime":4662.5999999999995,"endTime":4664.22,"body":"contribute."},{"speaker":"Andy Hart","startTime":4664.46,"endTime":4667.04,"body":"If you'd like to hang"},{"speaker":"Andy Hart","startTime":4664.46,"endTime":4667.04,"body":"around for us, rambling, or you"},{"speaker":"Andy Hart","startTime":4667.04,"endTime":4667.58,"body":"can jump off."},{"speaker":"Barney Whiter","startTime":4667.7,"endTime":4669.86,"body":"Tell me what to"},{"speaker":"Barney Whiter","startTime":4667.7,"endTime":4669.86,"body":"do. I'll stay or go to"},{"speaker":"Nick Lincoln","startTime":4669.86,"endTime":4671.66,"body":"you stay or go. I"},{"speaker":"Nick Lincoln","startTime":4669.86,"endTime":4671.66,"body":"think you could add some value"},{"speaker":"Nick Lincoln","startTime":4671.66,"endTime":4674.3,"body":"just Barney's website is the"},{"speaker":"Nick Lincoln","startTime":4671.66,"endTime":4674.3,"body":"Escape artist.me. And there'll"},{"speaker":"Nick Lincoln","startTime":4674.3,"endTime":4676.64,"body":"be a link to it in the so called"},{"speaker":"Nick Lincoln","startTime":4674.3,"endTime":4676.64,"body":"show notes. But I think we do"},{"speaker":"Nick Lincoln","startTime":4676.64,"endTime":4679.84,"body":"need to move on to the next part"},{"speaker":"Nick Lincoln","startTime":4676.64,"endTime":4679.84,"body":"of trap episode 64 because we're"},{"speaker":"Nick Lincoln","startTime":4679.84,"endTime":4685.12,"body":"at Christ 76 minutes in, and"},{"speaker":"Nick Lincoln","startTime":4679.84,"endTime":4685.12,"body":"it's time for listen TRAPPIST"},{"speaker":"Nick Lincoln","startTime":4685.12,"endTime":4687.34,"body":"questions. And I know that"},{"speaker":"Nick Lincoln","startTime":4685.12,"endTime":4687.34,"body":"because I can see at the front"},{"speaker":"Nick Lincoln","startTime":4687.34,"endTime":4690.0999999999995,"body":"doorbell the postie is dragging"},{"speaker":"Nick Lincoln","startTime":4687.34,"endTime":4690.0999999999995,"body":"the bulging sack of TRAPPIST"},{"speaker":"Nick Lincoln","startTime":4690.0999999999995,"endTime":4692.74,"body":"questions up the drive. And we"},{"speaker":"Nick Lincoln","startTime":4690.0999999999995,"endTime":4692.74,"body":"will answer some more questions"},{"speaker":"Nick Lincoln","startTime":4692.74,"endTime":4696.22,"body":"if you want to submit a question"},{"speaker":"Nick Lincoln","startTime":4692.74,"endTime":4696.22,"body":"to us, do it on the pinned link"},{"speaker":"Nick Lincoln","startTime":4696.22,"endTime":4699.54,"body":"in the tweet on x, or the X on"},{"speaker":"Nick Lincoln","startTime":4696.22,"endTime":4699.54,"body":"the tweet, or whatever, and we"},{"speaker":"Nick Lincoln","startTime":4699.54,"endTime":4701.82,"body":"will get around to them. These"},{"speaker":"Nick Lincoln","startTime":4699.54,"endTime":4701.82,"body":"are questions from August last"},{"speaker":"Nick Lincoln","startTime":4701.82,"endTime":4705.0599999999995,"body":"year, and the first question, I"},{"speaker":"Nick Lincoln","startTime":4701.82,"endTime":4705.0599999999995,"body":"think, is from someone. Let me"},{"speaker":"Nick Lincoln","startTime":4705.0599999999995,"endTime":4710.22,"body":"open this one up. This envelope"},{"speaker":"Nick Lincoln","startTime":4705.0599999999995,"endTime":4710.22,"body":"is from Patrick s who says it's"},{"speaker":"Nick Lincoln","startTime":4710.22,"endTime":4713.4,"body":"on Twitter as at Patrick, I"},{"speaker":"Nick Lincoln","startTime":4710.22,"endTime":4713.4,"body":"checked that, Patrick, that's"},{"speaker":"Nick Lincoln","startTime":4713.4,"endTime":4715.74,"body":"not true. You're not on Twitter."},{"speaker":"Nick Lincoln","startTime":4713.4,"endTime":4715.74,"body":"At Patrick is someone called"},{"speaker":"Nick Lincoln","startTime":4715.74,"endTime":4718.76,"body":"Patrick to leave, who lives in"},{"speaker":"Nick Lincoln","startTime":4715.74,"endTime":4718.76,"body":"Amsterdam and is a host of"},{"speaker":"Nick Lincoln","startTime":4718.76,"endTime":4722.36,"body":"shows, that's not you. It's a"},{"speaker":"Nick Lincoln","startTime":4718.76,"endTime":4722.36,"body":"nice try. Anyway. His question"},{"speaker":"Nick Lincoln","startTime":4722.36,"endTime":4725.0599999999995,"body":"is, this, this, again, deep"},{"speaker":"Nick Lincoln","startTime":4722.36,"endTime":4725.0599999999995,"body":"breath and Barney, if you can"},{"speaker":"Nick Lincoln","startTime":4725.0599999999995,"endTime":4727.16,"body":"contribute to this, that's"},{"speaker":"Nick Lincoln","startTime":4725.0599999999995,"endTime":4727.16,"body":"great. If you can't, that's"},{"speaker":"Nick Lincoln","startTime":4727.34,"endTime":4730.64,"body":"that's fine as well. High trap"},{"speaker":"Nick Lincoln","startTime":4727.34,"endTime":4730.64,"body":"pack, at the outset of your"},{"speaker":"Nick Lincoln","startTime":4730.64,"endTime":4733.34,"body":"career, how would you recommend"},{"speaker":"Nick Lincoln","startTime":4730.64,"endTime":4733.34,"body":"navigating, joining a financial"},{"speaker":"Nick Lincoln","startTime":4733.34,"endTime":4736.34,"body":"planning firm for the first"},{"speaker":"Nick Lincoln","startTime":4733.34,"endTime":4736.34,"body":"time, building your client bank"},{"speaker":"Nick Lincoln","startTime":4736.34,"endTime":4738.76,"body":"at that firm, and then"},{"speaker":"Nick Lincoln","startTime":4736.34,"endTime":4738.76,"body":"subsequently leaving it to set"},{"speaker":"Nick Lincoln","startTime":4738.76,"endTime":4741.76,"body":"up your own or going to a"},{"speaker":"Nick Lincoln","startTime":4738.76,"endTime":4741.76,"body":"smaller outfit where you may"},{"speaker":"Nick Lincoln","startTime":4741.76,"endTime":4744.7,"body":"have an ownership stake."},{"speaker":"Nick Lincoln","startTime":4741.76,"endTime":4744.7,"body":"Intention would be to begin with"},{"speaker":"Nick Lincoln","startTime":4744.7,"endTime":4748.18,"body":"the end in mind, which we like,"},{"speaker":"Nick Lincoln","startTime":4744.7,"endTime":4748.18,"body":"but undertaking this would"},{"speaker":"Nick Lincoln","startTime":4748.18,"endTime":4752.26,"body":"create challenges, ie, SJP"},{"speaker":"Nick Lincoln","startTime":4748.18,"endTime":4752.26,"body":"advisor, and then joining an IFA"},{"speaker":"Nick Lincoln","startTime":4752.62,"endTime":4755.38,"body":"challenges with non competes,"},{"speaker":"Nick Lincoln","startTime":4752.62,"endTime":4755.38,"body":"exit, charges, etc. This will"},{"speaker":"Nick Lincoln","startTime":4755.38,"endTime":4758.22,"body":"create poor cart experience and"},{"speaker":"Nick Lincoln","startTime":4755.38,"endTime":4758.22,"body":"may not even be possible."},{"speaker":"Nick Lincoln","startTime":4758.22,"endTime":4761.04,"body":"Interested to hear all of your"},{"speaker":"Nick Lincoln","startTime":4758.22,"endTime":4761.04,"body":"thoughts, given you have all"},{"speaker":"Nick Lincoln","startTime":4761.04,"endTime":4764.0999999999995,"body":"done this at some stage. Thanks,"},{"speaker":"Nick Lincoln","startTime":4761.04,"endTime":4764.0999999999995,"body":"right? Hopefully, guys, you've"},{"speaker":"Nick Lincoln","startTime":4764.0999999999995,"endTime":4766.68,"body":"had a chance to look at pat you"},{"speaker":"Nick Lincoln","startTime":4764.0999999999995,"endTime":4766.68,"body":"haven't, finally, but the rest"},{"speaker":"Nick Lincoln","startTime":4766.68,"endTime":4768.66,"body":"of us had a chance to look at"},{"speaker":"Nick Lincoln","startTime":4766.68,"endTime":4768.66,"body":"Patrick's question."},{"speaker":"Andy Hart","startTime":4768.66,"endTime":4772.98,"body":"Any quick thoughts?"},{"speaker":"Andy Hart","startTime":4768.66,"endTime":4772.98,"body":"Well, this is a question of my"},{"speaker":"Andy Hart","startTime":4772.98,"endTime":4776.18,"body":"first job in a financial"},{"speaker":"Andy Hart","startTime":4772.98,"endTime":4776.18,"body":"planning type firm, question, I"},{"speaker":"Andy Hart","startTime":4776.18,"endTime":4781.28,"body":"believe. I mean, he's massively"},{"speaker":"Andy Hart","startTime":4776.18,"endTime":4781.28,"body":"thinking ahead here, which is"},{"speaker":"Andy Hart","startTime":4781.28,"endTime":4785.9,"body":"commendable. I would just say,"},{"speaker":"Andy Hart","startTime":4781.28,"endTime":4785.9,"body":"get stuck in you just got to get"},{"speaker":"Andy Hart","startTime":4785.9,"endTime":4789.26,"body":"a job. The traditional route is"},{"speaker":"Andy Hart","startTime":4785.9,"endTime":4789.26,"body":"administration, power planning,"},{"speaker":"Andy Hart","startTime":4789.26,"endTime":4793.5199999999995,"body":"then advising. I recommend going"},{"speaker":"Andy Hart","startTime":4789.26,"endTime":4793.5199999999995,"body":"to work for, you know, not a"},{"speaker":"Andy Hart","startTime":4793.5199999999995,"endTime":4795.98,"body":"very good firm, the firm that's"},{"speaker":"Andy Hart","startTime":4793.5199999999995,"endTime":4795.98,"body":"got a lot of wheels that spin,"},{"speaker":"Andy Hart","startTime":4795.98,"endTime":4798.5,"body":"and you can get involved in"},{"speaker":"Andy Hart","startTime":4795.98,"endTime":4798.5,"body":"various different areas of the"},{"speaker":"Andy Hart","startTime":4798.5,"endTime":4800.62,"body":"firm. If you go of the firm. If"},{"speaker":"Andy Hart","startTime":4798.5,"endTime":4800.62,"body":"you go to well oiled machine,"},{"speaker":"Andy Hart","startTime":4800.62,"endTime":4803.44,"body":"you don't realize how good it"},{"speaker":"Andy Hart","startTime":4800.62,"endTime":4803.44,"body":"is, and then you can't learn"},{"speaker":"Andy Hart","startTime":4803.44,"endTime":4807.76,"body":"from all the different parts of"},{"speaker":"Andy Hart","startTime":4803.44,"endTime":4807.76,"body":"it. So get a job anywhere. I"},{"speaker":"Andy Hart","startTime":4807.76,"endTime":4811.12,"body":"wouldn't overthink client, bank"},{"speaker":"Andy Hart","startTime":4807.76,"endTime":4811.12,"body":"and non compete agreements. This"},{"speaker":"Andy Hart","startTime":4811.12,"endTime":4812.44,"body":"sounds insane. Well,"},{"speaker":"Alan Smith","startTime":4812.44,"endTime":4816.66,"body":"I I would counter"},{"speaker":"Alan Smith","startTime":4812.44,"endTime":4816.66,"body":"that he's obviously is thinking"},{"speaker":"Alan Smith","startTime":4816.66,"endTime":4819.18,"body":"about, look, he wants to be a"},{"speaker":"Alan Smith","startTime":4816.66,"endTime":4819.18,"body":"financial planner. He wants to"},{"speaker":"Alan Smith","startTime":4819.18,"endTime":4822.18,"body":"have some sort of ownership of a"},{"speaker":"Alan Smith","startTime":4819.18,"endTime":4822.18,"body":"financial planning business. So"},{"speaker":"Alan Smith","startTime":4822.42,"endTime":4825.5999999999995,"body":"he's looking to navigate the it"},{"speaker":"Alan Smith","startTime":4822.42,"endTime":4825.5999999999995,"body":"sounds like his early stage"},{"speaker":"Alan Smith","startTime":4825.5999999999995,"endTime":4829.5,"body":"career. And interesting on in"},{"speaker":"Alan Smith","startTime":4825.5999999999995,"endTime":4829.5,"body":"Bob garney's had some"},{"speaker":"Alan Smith","startTime":4829.8,"endTime":4832.14,"body":"experience, by the sounds of"},{"speaker":"Alan Smith","startTime":4829.8,"endTime":4832.14,"body":"things on this. That's, you"},{"speaker":"Alan Smith","startTime":4832.14,"endTime":4835.14,"body":"know, people do talk about the"},{"speaker":"Alan Smith","startTime":4832.14,"endTime":4835.14,"body":"academy. St James's place is"},{"speaker":"Alan Smith","startTime":4835.14,"endTime":4840.08,"body":"one. There's, there's several"},{"speaker":"Alan Smith","startTime":4835.14,"endTime":4840.08,"body":"others out there. And there's no"},{"speaker":"Alan Smith","startTime":4840.08,"endTime":4842.66,"body":"question, if you're from a"},{"speaker":"Alan Smith","startTime":4840.08,"endTime":4842.66,"body":"standing start, you do get"},{"speaker":"Alan Smith","startTime":4842.66,"endTime":4846.68,"body":"infrastructure marketing, any"},{"speaker":"Alan Smith","startTime":4842.66,"endTime":4846.68,"body":"number of other things. But if"},{"speaker":"Alan Smith","startTime":4846.68,"endTime":4848.9,"body":"you're doing that as a stepping"},{"speaker":"Alan Smith","startTime":4846.68,"endTime":4848.9,"body":"stone, you say, I'm going to do"},{"speaker":"Alan Smith","startTime":4848.9,"endTime":4851.66,"body":"this for two years and exit and"},{"speaker":"Alan Smith","startTime":4848.9,"endTime":4851.66,"body":"start my own IFA firm and take"},{"speaker":"Alan Smith","startTime":4851.66,"endTime":4856.9,"body":"my clients, well, it wouldn't be"},{"speaker":"Alan Smith","startTime":4851.66,"endTime":4856.9,"body":"SJP first rodeo. This is the"},{"speaker":"Alan Smith","startTime":4856.9,"endTime":4859.78,"body":"first thing they are pretty well"},{"speaker":"Alan Smith","startTime":4856.9,"endTime":4859.78,"body":"buttoned up for, you know,"},{"speaker":"Alan Smith","startTime":4859.84,"endTime":4863.92,"body":"exiting, no, within the"},{"speaker":"Alan Smith","startTime":4859.84,"endTime":4863.92,"body":"contracts that the clients"},{"speaker":"Alan Smith","startTime":4864.22,"endTime":4866.68,"body":"currently buy with exit, charges"},{"speaker":"Alan Smith","startTime":4864.22,"endTime":4866.68,"body":"and penalties, what have you"},{"speaker":"Alan Smith","startTime":4866.68,"endTime":4870.0999999999995,"body":"very often, but also with your"},{"speaker":"Alan Smith","startTime":4866.68,"endTime":4870.0999999999995,"body":"contractual obligations that"},{"speaker":"Alan Smith","startTime":4870.0999999999995,"endTime":4872.44,"body":"you've got. So I don't think"},{"speaker":"Alan Smith","startTime":4870.0999999999995,"endTime":4872.44,"body":"it'd be very easy if you, if"},{"speaker":"Alan Smith","startTime":4872.44,"endTime":4875.2,"body":"you, if your end ambition was to"},{"speaker":"Alan Smith","startTime":4872.44,"endTime":4875.2,"body":"run your own independent firm,"},{"speaker":"Alan Smith","startTime":4875.2,"endTime":4878.28,"body":"that probably would. Be the best"},{"speaker":"Alan Smith","startTime":4875.2,"endTime":4878.28,"body":"route to go Barney did it was I"},{"speaker":"Alan Smith","startTime":4878.28,"endTime":4881.64,"body":"ever talked about Barney when"},{"speaker":"Alan Smith","startTime":4878.28,"endTime":4881.64,"body":"you were looking at the SJP"},{"speaker":"Alan Smith","startTime":4881.64,"endTime":4882.12,"body":"Academy?"},{"speaker":"Barney Whiter","startTime":4882.36,"endTime":4884.4,"body":"Well, they no,"},{"speaker":"Barney Whiter","startTime":4882.36,"endTime":4884.4,"body":"they didn't want to talk about"},{"speaker":"Barney Whiter","startTime":4885.84,"endTime":4886.0199999999995,"body":"that."},{"speaker":"Alan Smith","startTime":4890.16,"endTime":4893.16,"body":"Probably worked out."},{"speaker":"Alan Smith","startTime":4890.16,"endTime":4893.16,"body":"It wasn't going to be what I"},{"speaker":"Alan Smith","startTime":4893.16,"endTime":4897.62,"body":"would say. Again, as a founder"},{"speaker":"Alan Smith","startTime":4893.16,"endTime":4897.62,"body":"of a business with advisors."},{"speaker":"Alan Smith","startTime":4899.3,"endTime":4901.88,"body":"This thing about starting and"},{"speaker":"Alan Smith","startTime":4899.3,"endTime":4901.88,"body":"effectively leveraging all the"},{"speaker":"Alan Smith","startTime":4901.88,"endTime":4904.34,"body":"resources that the advice firm"},{"speaker":"Alan Smith","startTime":4901.88,"endTime":4904.34,"body":"is going to give you, then to go"},{"speaker":"Alan Smith","startTime":4904.34,"endTime":4907.04,"body":"and set up on your own and take"},{"speaker":"Alan Smith","startTime":4904.34,"endTime":4907.04,"body":"all the clients that wouldn't be"},{"speaker":"Alan Smith","startTime":4907.04,"endTime":4910.64,"body":"a great thing necessarily to do"},{"speaker":"Alan Smith","startTime":4907.04,"endTime":4910.64,"body":"or to become known for. There"},{"speaker":"Alan Smith","startTime":4910.64,"endTime":4913.28,"body":"are firms that will offer self"},{"speaker":"Alan Smith","startTime":4910.64,"endTime":4913.28,"body":"employed contracts. So you will"},{"speaker":"Alan Smith","startTime":4913.28,"endTime":4916.54,"body":"get an infrastructure, you get"},{"speaker":"Alan Smith","startTime":4913.28,"endTime":4916.54,"body":"sort of some admin and stuff,"},{"speaker":"Alan Smith","startTime":4916.54,"endTime":4919.18,"body":"and you'll pay for it along the"},{"speaker":"Alan Smith","startTime":4916.54,"endTime":4919.18,"body":"way. And ultimately, the clients"},{"speaker":"Alan Smith","startTime":4919.18,"endTime":4921.76,"body":"are yours. You'll grow them"},{"speaker":"Alan Smith","startTime":4919.18,"endTime":4921.76,"body":"yourself. If you wanted to leave"},{"speaker":"Alan Smith","startTime":4922.18,"endTime":4925.3,"body":"and set up your own show, you"},{"speaker":"Alan Smith","startTime":4922.18,"endTime":4925.3,"body":"could do so. So just be careful"},{"speaker":"Alan Smith","startTime":4925.3,"endTime":4928.42,"body":"about navigating the contractual"},{"speaker":"Alan Smith","startTime":4925.3,"endTime":4928.42,"body":"obligations and expectations,"},{"speaker":"Alan Smith","startTime":4928.42,"endTime":4932.08,"body":"and you don't want to be someone"},{"speaker":"Alan Smith","startTime":4928.42,"endTime":4932.08,"body":"that's known as jumps about from"},{"speaker":"Alan Smith","startTime":4932.08,"endTime":4934.48,"body":"one company to the other, tries"},{"speaker":"Alan Smith","startTime":4932.08,"endTime":4934.48,"body":"to take clients with them"},{"speaker":"Alan Smith","startTime":4934.48,"endTime":4936.0999999999995,"body":"wherever they go. I know you"},{"speaker":"Alan Smith","startTime":4934.48,"endTime":4936.0999999999995,"body":"boys have got"},{"speaker":"Andy Hart","startTime":4936.2789999999995,"endTime":4939.539,"body":"Nick as as a fellow"},{"speaker":"Andy Hart","startTime":4936.2789999999995,"endTime":4939.539,"body":"overthinker, I think this guy's"},{"speaker":"Andy Hart","startTime":4939.539,"endTime":4942.659,"body":"Well, overthinking it. I think"},{"speaker":"Andy Hart","startTime":4939.539,"endTime":4942.659,"body":"he just needs to get involved."},{"speaker":"Andy Hart","startTime":4942.659,"endTime":4945.7789999999995,"body":"He's at the beginning of his"},{"speaker":"Andy Hart","startTime":4942.659,"endTime":4945.7789999999995,"body":"apprenticeship stage. When you"},{"speaker":"Andy Hart","startTime":4945.7789999999995,"endTime":4948.179,"body":"start moving from the"},{"speaker":"Andy Hart","startTime":4945.7789999999995,"endTime":4948.179,"body":"apprenticeship stage to mastery,"},{"speaker":"Andy Hart","startTime":4948.179,"endTime":4950.159,"body":"then that's when you need to"},{"speaker":"Andy Hart","startTime":4948.179,"endTime":4950.159,"body":"worry about these sort of"},{"speaker":"Andy Hart","startTime":4950.159,"endTime":4952.619,"body":"things. Just get involved. He"},{"speaker":"Andy Hart","startTime":4950.159,"endTime":4952.619,"body":"could be doing this for 10"},{"speaker":"Andy Hart","startTime":4952.619,"endTime":4956.099,"body":"years, just, you know, hitting"},{"speaker":"Andy Hart","startTime":4952.619,"endTime":4956.099,"body":"the streets, hitting the phone"},{"speaker":"Andy Hart","startTime":4956.099,"endTime":4958.639,"body":"calls, having client meeting,"},{"speaker":"Andy Hart","startTime":4956.099,"endTime":4958.639,"body":"making the mistakes and make"},{"speaker":"Andy Hart","startTime":4958.639,"endTime":4961.519,"body":"mistakes in someone else's time"},{"speaker":"Andy Hart","startTime":4958.639,"endTime":4961.519,"body":"and money, obviously you want to"},{"speaker":"Andy Hart","startTime":4961.519,"endTime":4963.799,"body":"add a lot of value, because"},{"speaker":"Andy Hart","startTime":4961.519,"endTime":4963.799,"body":"that's how the world works. I"},{"speaker":"Andy Hart","startTime":4963.799,"endTime":4966.799,"body":"think he's overthinking this"},{"speaker":"Andy Hart","startTime":4963.799,"endTime":4966.799,"body":"potentially. And I never thought"},{"speaker":"Nick Lincoln","startTime":4966.8,"endTime":4968.42,"body":"of you as an over"},{"speaker":"Nick Lincoln","startTime":4966.8,"endTime":4968.42,"body":"thinker mate. You are. You don't"},{"speaker":"Nick Lincoln","startTime":4968.42,"endTime":4970.4,"body":"strike me as someone who"},{"speaker":"Nick Lincoln","startTime":4968.42,"endTime":4970.4,"body":"suffers. No, no. I don't mean"},{"speaker":"Nick Lincoln","startTime":4970.4,"endTime":4972.92,"body":"the derogatory for once, I mean"},{"speaker":"Nick Lincoln","startTime":4970.4,"endTime":4972.92,"body":"you strike me someone who"},{"speaker":"Nick Lincoln","startTime":4972.92,"endTime":4975.5,"body":"doesn't vacillate and think this"},{"speaker":"Nick Lincoln","startTime":4972.92,"endTime":4975.5,"body":"is what I want to do. So why do"},{"speaker":"Nick Lincoln","startTime":4975.5,"endTime":4978.76,"body":"you think that's a massive"},{"speaker":"Nick Lincoln","startTime":4975.5,"endTime":4978.76,"body":"overthinker. You don't, yeah, he"},{"speaker":"Nick Lincoln","startTime":4978.76,"endTime":4982.78,"body":"wouldn't just to close on this."},{"speaker":"Nick Lincoln","startTime":4978.76,"endTime":4982.78,"body":"We actually know an SJP advisor"},{"speaker":"Nick Lincoln","startTime":4982.78,"endTime":4986.08,"body":"who has just joined an IFA so it"},{"speaker":"Nick Lincoln","startTime":4982.78,"endTime":4986.08,"body":"can, it can be done. And shout"},{"speaker":"Nick Lincoln","startTime":4986.08,"endTime":4989.14,"body":"out. They're both trap fans."},{"speaker":"Nick Lincoln","startTime":4986.08,"endTime":4989.14,"body":"Shout out to Graham and and"},{"speaker":"Nick Lincoln","startTime":4989.14,"endTime":4992.68,"body":"Julian. So you can't, you can do"},{"speaker":"Nick Lincoln","startTime":4989.14,"endTime":4992.68,"body":"that. It's not as easy as it"},{"speaker":"Nick Lincoln","startTime":4992.68,"endTime":4995.38,"body":"maybe should be. And we'll leave"},{"speaker":"Nick Lincoln","startTime":4992.68,"endTime":4995.38,"body":"it at that. Okay, I'm conscious"},{"speaker":"Nick Lincoln","startTime":4995.38,"endTime":4996.46,"body":"we're now 85"},{"speaker":"Alan Smith","startTime":4996.88,"endTime":5000.62,"body":"minutes. Yeah, Ollie"},{"speaker":"Alan Smith","startTime":4996.88,"endTime":5000.62,"body":"has just joined us from SJP. It"},{"speaker":"Alan Smith","startTime":5000.62,"endTime":5002.24,"body":"does happen"},{"speaker":"Nick Lincoln","startTime":5002.5999999999995,"endTime":5006.0199999999995,"body":"and, and, yes, the"},{"speaker":"Nick Lincoln","startTime":5002.5999999999995,"endTime":5006.0199999999995,"body":"Academy, the training, it is"},{"speaker":"Nick Lincoln","startTime":5006.0199999999995,"endTime":5008.5999999999995,"body":"sales orientated, but they also"},{"speaker":"Nick Lincoln","startTime":5006.0199999999995,"endTime":5008.5999999999995,"body":"do other stuff as well. It's"},{"speaker":"Nick Lincoln","startTime":5008.5999999999995,"endTime":5011.3,"body":"supposed to be very high quality"},{"speaker":"Nick Lincoln","startTime":5008.5999999999995,"endTime":5011.3,"body":"in terms of business planning"},{"speaker":"Nick Lincoln","startTime":5011.3,"endTime":5013.7,"body":"and and that kind of thing. So"},{"speaker":"Nick Lincoln","startTime":5011.3,"endTime":5013.7,"body":"just,"},{"speaker":"Carl Widger","startTime":5013.7,"endTime":5019.24,"body":"just my, just very"},{"speaker":"Carl Widger","startTime":5013.7,"endTime":5019.24,"body":"quick point that the guy here,"},{"speaker":"Carl Widger","startTime":5019.24,"endTime":5021.76,"body":"and his point is, right, he's at"},{"speaker":"Carl Widger","startTime":5019.24,"endTime":5021.76,"body":"the very start, just get your"},{"speaker":"Carl Widger","startTime":5021.76,"endTime":5026.14,"body":"head down and start working. And"},{"speaker":"Carl Widger","startTime":5021.76,"endTime":5026.14,"body":"work really, really hard. But I"},{"speaker":"Carl Widger","startTime":5026.26,"endTime":5028.9,"body":"think the clients aren't being"},{"speaker":"Carl Widger","startTime":5026.26,"endTime":5028.9,"body":"really thought about here. I"},{"speaker":"Carl Widger","startTime":5028.9,"endTime":5032.08,"body":"know there's a there's a there's"},{"speaker":"Carl Widger","startTime":5028.9,"endTime":5032.08,"body":"a one common old, you know, sub"},{"speaker":"Carl Widger","startTime":5032.08,"endTime":5035.2,"body":"optimal outcomes for clients, or"},{"speaker":"Carl Widger","startTime":5032.08,"endTime":5035.2,"body":"something like that. The clients"},{"speaker":"Carl Widger","startTime":5035.2,"endTime":5038.76,"body":"need to be thought about first"},{"speaker":"Carl Widger","startTime":5035.2,"endTime":5038.76,"body":"and foremost, and that has to be"},{"speaker":"Carl Widger","startTime":5038.76,"endTime":5041.88,"body":"your main priority. And if you"},{"speaker":"Carl Widger","startTime":5038.76,"endTime":5041.88,"body":"do great work for clients, no"},{"speaker":"Carl Widger","startTime":5041.88,"endTime":5043.86,"body":"matter who you're working for,"},{"speaker":"Carl Widger","startTime":5041.88,"endTime":5043.86,"body":"whether you're working for"},{"speaker":"Carl Widger","startTime":5043.86,"endTime":5047.34,"body":"somebody else or for yourself,"},{"speaker":"Carl Widger","startTime":5043.86,"endTime":5047.34,"body":"you're you will have no problem"},{"speaker":"Carl Widger","startTime":5047.34,"endTime":5053.04,"body":"in your career. But I think"},{"speaker":"Carl Widger","startTime":5047.34,"endTime":5053.04,"body":"trying to plot a course very"},{"speaker":"Carl Widger","startTime":5053.04,"endTime":5056.78,"body":"early in your career, before"},{"speaker":"Carl Widger","startTime":5053.04,"endTime":5056.78,"body":"you've done the hard work. Yeah,"},{"speaker":"Carl Widger","startTime":5057.0199999999995,"endTime":5060.68,"body":"too early, my friend, yeah,"},{"speaker":"Carl Widger","startTime":5057.0199999999995,"endTime":5060.68,"body":"sorry. Probably become really"},{"speaker":"Carl Widger","startTime":5060.68,"endTime":5061.22,"body":"valuable"},{"speaker":"Alan Smith","startTime":5061.22,"endTime":5063.0199999999995,"body":"to your clients,"},{"speaker":"Alan Smith","startTime":5061.22,"endTime":5063.0199999999995,"body":"your"},{"speaker":"Andy Hart","startTime":5063.019,"endTime":5064.879,"body":"employer. Everyone"},{"speaker":"Andy Hart","startTime":5063.019,"endTime":5064.879,"body":"knows what the just offer is"},{"speaker":"Andy Hart","startTime":5064.879,"endTime":5066.979,"body":"going to be like in 510, years"},{"speaker":"Andy Hart","startTime":5064.879,"endTime":5066.979,"body":"time."},{"speaker":"Nick Lincoln","startTime":5066.979,"endTime":5069.019,"body":"Exactly. Can you"},{"speaker":"Nick Lincoln","startTime":5066.979,"endTime":5069.019,"body":"tell them to hurry up? Because"},{"speaker":"Nick Lincoln","startTime":5069.019,"endTime":5075.259,"body":"they'll listen to you. They"},{"speaker":"Nick Lincoln","startTime":5069.019,"endTime":5075.259,"body":"don't listen to me. Let's move"},{"speaker":"Nick Lincoln","startTime":5075.259,"endTime":5078.519,"body":"on 83 minutes, shoot me. Let's"},{"speaker":"Nick Lincoln","startTime":5075.259,"endTime":5078.519,"body":"move on to the final part of the"},{"speaker":"Nick Lincoln","startTime":5078.519,"endTime":5080.139,"body":"show. This is the so called"},{"speaker":"Nick Lincoln","startTime":5078.519,"endTime":5080.139,"body":"culture corner."},{"speaker":"Unknown","startTime":5085.66,"endTime":5088.78,"body":"Oh, shit, no, it's"},{"speaker":"Unknown","startTime":5085.66,"endTime":5088.78,"body":"another question. Nick, now we"},{"speaker":"Unknown","startTime":5088.78,"endTime":5090.28,"body":"did another question. You cut"},{"speaker":"Unknown","startTime":5088.78,"endTime":5090.28,"body":"it. No,"},{"speaker":"Alan Smith","startTime":5090.2789999999995,"endTime":5092.439,"body":"you dropped it. All"},{"speaker":"Alan Smith","startTime":5090.2789999999995,"endTime":5092.439,"body":"right, yeah, it's gone on too"},{"speaker":"Alan Smith","startTime":5092.439,"endTime":5092.8589999999995,"body":"long. Okay."},{"speaker":"Carl Widger","startTime":5095.019,"endTime":5097.499,"body":"Yeah. There's a"},{"speaker":"Carl Widger","startTime":5095.019,"endTime":5097.499,"body":"David Mac Williams podcast that"},{"speaker":"Carl Widger","startTime":5097.499,"endTime":5103.439,"body":"everyone should tune into. And"},{"speaker":"Carl Widger","startTime":5097.499,"endTime":5103.439,"body":"this one was about the deep seek"},{"speaker":"Carl Widger","startTime":5103.499,"endTime":5107.999,"body":"story. And it was, I just loved"},{"speaker":"Carl Widger","startTime":5103.499,"endTime":5107.999,"body":"the way it's kind of two Irish"},{"speaker":"Carl Widger","startTime":5107.999,"endTime":5111.179,"body":"guys. David MacWilliams is a"},{"speaker":"Carl Widger","startTime":5107.999,"endTime":5111.179,"body":"pretty famous economist here."},{"speaker":"Carl Widger","startTime":5111.179,"endTime":5113.999,"body":"He's very entertaining as well"},{"speaker":"Carl Widger","startTime":5111.179,"endTime":5113.999,"body":"as very well read and a very"},{"speaker":"Carl Widger","startTime":5113.999,"endTime":5118.219,"body":"clever guy. But I just love this"},{"speaker":"Carl Widger","startTime":5113.999,"endTime":5118.219,"body":"was a real typical Irish type"},{"speaker":"Carl Widger","startTime":5118.219,"endTime":5121.159,"body":"podcast, because they were,"},{"speaker":"Carl Widger","startTime":5118.219,"endTime":5121.159,"body":"like, totally and utterly. They"},{"speaker":"Carl Widger","startTime":5121.159,"endTime":5126.199,"body":"were just celebrating and"},{"speaker":"Carl Widger","startTime":5121.159,"endTime":5126.199,"body":"giggling about, you know, these"},{"speaker":"Carl Widger","startTime":5126.199,"endTime":5129.379,"body":"guys coming in and doing, you"},{"speaker":"Carl Widger","startTime":5126.199,"endTime":5129.379,"body":"know, the same stuff as all the"},{"speaker":"Carl Widger","startTime":5129.379,"endTime":5134.839,"body":"other AI merchants doing it, but"},{"speaker":"Carl Widger","startTime":5129.379,"endTime":5134.839,"body":"at a 10th of the cost, and kind"},{"speaker":"Carl Widger","startTime":5134.839,"endTime":5137.619,"body":"of celebrating the underdog and"},{"speaker":"Carl Widger","startTime":5134.839,"endTime":5137.619,"body":"that kind of stuff. But they do"},{"speaker":"Carl Widger","startTime":5137.619,"endTime":5143.019,"body":"bring in a an American Born"},{"speaker":"Carl Widger","startTime":5137.619,"endTime":5143.019,"body":"Chinese lady, and she gives some"},{"speaker":"Carl Widger","startTime":5143.019,"endTime":5147.219,"body":"really good insights about it as"},{"speaker":"Carl Widger","startTime":5143.019,"endTime":5147.219,"body":"well. But the podcast in general"},{"speaker":"Carl Widger","startTime":5147.219,"endTime":5152.139,"body":"is really well worth, well worth"},{"speaker":"Carl Widger","startTime":5147.219,"endTime":5152.139,"body":"listening to the David"},{"speaker":"Carl Widger","startTime":5152.139,"endTime":5153.399,"body":"McWilliams podcast."},{"speaker":"Andy Hart","startTime":5153.94,"endTime":5158.22,"body":"Great start. Go on,"},{"speaker":"Andy Hart","startTime":5153.94,"endTime":5158.22,"body":"Nick. Go on. I don't I don't"},{"speaker":"Andy Hart","startTime":5158.22,"endTime":5161.16,"body":"know if other people on the call"},{"speaker":"Andy Hart","startTime":5158.22,"endTime":5161.16,"body":"now, but so, so obviously, deep"},{"speaker":"Andy Hart","startTime":5161.16,"endTime":5163.98,"body":"seek have done what, let's keep"},{"speaker":"Andy Hart","startTime":5161.16,"endTime":5163.98,"body":"it simple. Open. Ai have done"},{"speaker":"Andy Hart","startTime":5163.98,"endTime":5168.78,"body":"for a 20th at price, keep it"},{"speaker":"Andy Hart","startTime":5163.98,"endTime":5168.78,"body":"simple. But so open, aI have"},{"speaker":"Andy Hart","startTime":5168.78,"endTime":5171.48,"body":"scraped data from all over the"},{"speaker":"Andy Hart","startTime":5168.78,"endTime":5171.48,"body":"internet. It comes under this"},{"speaker":"Andy Hart","startTime":5171.48,"endTime":5174.42,"body":"Fair Use policy, and I don't"},{"speaker":"Andy Hart","startTime":5171.48,"endTime":5174.42,"body":"know well enough, this is Fair"},{"speaker":"Andy Hart","startTime":5174.42,"endTime":5178.5199999999995,"body":"Use policy. And then deep."},{"speaker":"Andy Hart","startTime":5174.42,"endTime":5178.5199999999995,"body":"Seekers basically just stolen a"},{"speaker":"Andy Hart","startTime":5178.5199999999995,"endTime":5181.34,"body":"massive chunk of what open aI"},{"speaker":"Andy Hart","startTime":5178.5199999999995,"endTime":5181.34,"body":"have done, and they've got a"},{"speaker":"Andy Hart","startTime":5181.34,"endTime":5183.86,"body":"problem with this now. And that"},{"speaker":"Andy Hart","startTime":5181.34,"endTime":5183.86,"body":"deep seat was saying, well,"},{"speaker":"Andy Hart","startTime":5183.86,"endTime":5186.14,"body":"you're stealing all other"},{"speaker":"Andy Hart","startTime":5183.86,"endTime":5186.14,"body":"people's information under the"},{"speaker":"Andy Hart","startTime":5186.14,"endTime":5188.96,"body":"Fair Use policy, yeah, we'll"},{"speaker":"Andy Hart","startTime":5186.14,"endTime":5188.96,"body":"just let you do it. It's still"},{"speaker":"Andy Hart","startTime":5188.96,"endTime":5191.5999999999995,"body":"yours. And they're like, no, but"},{"speaker":"Andy Hart","startTime":5188.96,"endTime":5191.5999999999995,"body":"we've got a problem with that."},{"speaker":"Andy Hart","startTime":5191.5999999999995,"endTime":5194.24,"body":"No, but you're seeing the sort"},{"speaker":"Andy Hart","startTime":5191.5999999999995,"endTime":5194.24,"body":"of merry go round. You"},{"speaker":"Carl Widger","startTime":5194.24,"endTime":5195.98,"body":"should listen to"},{"speaker":"Carl Widger","startTime":5194.24,"endTime":5195.98,"body":"the podcast. Andy, you'd love"},{"speaker":"Carl Widger","startTime":5195.98,"endTime":5198.34,"body":"it, because they do, they do say"},{"speaker":"Carl Widger","startTime":5195.98,"endTime":5198.34,"body":"that, you know, gone, you know"},{"speaker":"Carl Widger","startTime":5198.34,"endTime":5201.7,"body":"someone giving out about Robin."},{"speaker":"Carl Widger","startTime":5198.34,"endTime":5201.7,"body":"Everyone else is Robin. Everyone"},{"speaker":"Andy Hart","startTime":5202.24,"endTime":5204.28,"body":"else Robin. And then,"},{"speaker":"Andy Hart","startTime":5202.24,"endTime":5204.28,"body":"and we're gonna rob you at the"},{"speaker":"Andy Hart","startTime":5204.28,"endTime":5207.16,"body":"end. And yes, it's quite"},{"speaker":"Andy Hart","startTime":5204.28,"endTime":5207.16,"body":"interesting. So this Fair Use"},{"speaker":"Andy Hart","startTime":5207.16,"endTime":5210.04,"body":"policy, again, it's like built"},{"speaker":"Andy Hart","startTime":5207.16,"endTime":5210.04,"body":"into websites and built into a"},{"speaker":"Andy Hart","startTime":5210.04,"endTime":5213.46,"body":"lot of media companies. I don't"},{"speaker":"Andy Hart","startTime":5210.04,"endTime":5213.46,"body":"want it, I don't know well"},{"speaker":"Andy Hart","startTime":5213.46,"endTime":5215.44,"body":"enough, but it's interesting,"},{"speaker":"Andy Hart","startTime":5213.46,"endTime":5215.44,"body":"but it's funny."},{"speaker":"Barney Whiter","startTime":5215.44,"endTime":5218.82,"body":"It's gonna be"},{"speaker":"Barney Whiter","startTime":5215.44,"endTime":5218.82,"body":"litigated to hell and back in"},{"speaker":"Barney Whiter","startTime":5218.82,"endTime":5221.28,"body":"the US so, so essentially, you"},{"speaker":"Barney Whiter","startTime":5218.82,"endTime":5221.28,"body":"mean"},{"speaker":"Andy Hart","startTime":5221.2789999999995,"endTime":5223.139,"body":"those companies going"},{"speaker":"Andy Hart","startTime":5221.2789999999995,"endTime":5223.139,"body":"off the deep sea called, Who"},{"speaker":"Andy Hart","startTime":5223.139,"endTime":5224.8189999999995,"body":"knows if you're,"},{"speaker":"Barney Whiter","startTime":5224.88,"endTime":5228.36,"body":"if you're the New"},{"speaker":"Barney Whiter","startTime":5224.88,"endTime":5228.36,"body":"York Times and The FT, you're"},{"speaker":"Barney Whiter","startTime":5228.42,"endTime":5232.26,"body":"pissed off that all of these AI"},{"speaker":"Barney Whiter","startTime":5228.42,"endTime":5232.26,"body":"models have just scraped your"},{"speaker":"Barney Whiter","startTime":5232.26,"endTime":5235.74,"body":"whole data set and they've not"},{"speaker":"Barney Whiter","startTime":5232.26,"endTime":5235.74,"body":"given you a penny. So you're"},{"speaker":"Barney Whiter","startTime":5235.74,"endTime":5238.76,"body":"going to court. Right?"},{"speaker":"Alan Smith","startTime":5239.78,"endTime":5242.78,"body":"And there are"},{"speaker":"Alan Smith","startTime":5239.78,"endTime":5242.78,"body":"agreements coming into place as"},{"speaker":"Alan Smith","startTime":5242.78,"endTime":5246.2,"body":"well, whether again, to pay for"},{"speaker":"Alan Smith","startTime":5242.78,"endTime":5246.2,"body":"it. I mean, open, AI just steal"},{"speaker":"Alan Smith","startTime":5246.2,"endTime":5246.8,"body":"all the music,"},{"speaker":"Andy Hart","startTime":5246.8589999999995,"endTime":5249.439,"body":"and then we'll come"},{"speaker":"Andy Hart","startTime":5246.8589999999995,"endTime":5249.439,"body":"to an agreement five years"},{"speaker":"Andy Hart","startTime":5249.439,"endTime":5252.079,"body":"later, type thing. Yeah, it will"},{"speaker":"Andy Hart","startTime":5249.439,"endTime":5252.079,"body":"get worked out."},{"speaker":"Nick Lincoln","startTime":5253.16,"endTime":5254.78,"body":"Okay, next one,"},{"speaker":"Nick Lincoln","startTime":5253.16,"endTime":5254.78,"body":"please, gents,"},{"speaker":"Alan Smith","startTime":5255.92,"endTime":5258.46,"body":"I would encourage"},{"speaker":"Alan Smith","startTime":5255.92,"endTime":5258.46,"body":"everyone who listens to this"},{"speaker":"Alan Smith","startTime":5258.46,"endTime":5263.0199999999995,"body":"podcast to watch a 30 minute"},{"speaker":"Alan Smith","startTime":5258.46,"endTime":5263.0199999999995,"body":"video. It's on YouTube. It's on"},{"speaker":"Alan Smith","startTime":5263.0199999999995,"endTime":5266.0199999999995,"body":"a few other places, and it's"},{"speaker":"Alan Smith","startTime":5263.0199999999995,"endTime":5266.0199999999995,"body":"called, What's the problem?"},{"speaker":"Alan Smith","startTime":5266.0199999999995,"endTime":5268.24,"body":"Barney, I don't know if you've"},{"speaker":"Alan Smith","startTime":5266.0199999999995,"endTime":5268.24,"body":"seen this, what's the problem"},{"speaker":"Alan Smith","startTime":5268.24,"endTime":5272.0199999999995,"body":"created by a guy called Joe"},{"speaker":"Alan Smith","startTime":5268.24,"endTime":5272.0199999999995,"body":"Brian. And I just had Joe Brian"},{"speaker":"Alan Smith","startTime":5272.0199999999995,"endTime":5274.84,"body":"on my podcast, bulletproof"},{"speaker":"Alan Smith","startTime":5272.0199999999995,"endTime":5274.84,"body":"entrepreneur. He is a very"},{"speaker":"Alan Smith","startTime":5274.84,"endTime":5280.08,"body":"smart, humble guy. He is Oxford"},{"speaker":"Alan Smith","startTime":5274.84,"endTime":5280.08,"body":"graduate. He was a Goldman Sachs"},{"speaker":"Alan Smith","startTime":5280.08,"endTime":5282.5999999999995,"body":"for 10 years. He was an"},{"speaker":"Alan Smith","startTime":5280.08,"endTime":5282.5999999999995,"body":"entrepreneur, created a"},{"speaker":"Alan Smith","startTime":5282.5999999999995,"endTime":5287.46,"body":"business, sold it for a lot of"},{"speaker":"Alan Smith","startTime":5282.5999999999995,"endTime":5287.46,"body":"money, and went down a rabbit"},{"speaker":"Alan Smith","startTime":5287.46,"endTime":5289.98,"body":"hole of identifying this, as"},{"speaker":"Alan Smith","startTime":5287.46,"endTime":5289.98,"body":"Barney was talking about a"},{"speaker":"Alan Smith","startTime":5289.98,"endTime":5293.94,"body":"moment ago. The fundamental"},{"speaker":"Alan Smith","startTime":5289.98,"endTime":5293.94,"body":"problem that is wrong with the"},{"speaker":"Alan Smith","startTime":5293.94,"endTime":5298.5199999999995,"body":"money system, the economy, and"},{"speaker":"Alan Smith","startTime":5293.94,"endTime":5298.5199999999995,"body":"regardless of whatever you think"},{"speaker":"Alan Smith","startTime":5298.5199999999995,"endTime":5301.46,"body":"about it, it is in the way it's"},{"speaker":"Alan Smith","startTime":5298.5199999999995,"endTime":5301.46,"body":"delivered a very professional,"},{"speaker":"Alan Smith","startTime":5302.3,"endTime":5306.14,"body":"easy to understand video, and"},{"speaker":"Alan Smith","startTime":5302.3,"endTime":5306.14,"body":"it's worth anyone investing 30"},{"speaker":"Alan Smith","startTime":5306.14,"endTime":5308.96,"body":"minutes of your time to watch,"},{"speaker":"Alan Smith","startTime":5306.14,"endTime":5308.96,"body":"listen and understand, because"},{"speaker":"Alan Smith","startTime":5308.96,"endTime":5311.54,"body":"it does have an impact on our"},{"speaker":"Alan Smith","startTime":5308.96,"endTime":5311.54,"body":"lives and the lives of our"},{"speaker":"Alan Smith","startTime":5311.54,"endTime":5315.14,"body":"clients. Go and watch it, link"},{"speaker":"Alan Smith","startTime":5311.54,"endTime":5315.14,"body":"in the show notes."},{"speaker":"Nick Lincoln","startTime":5315.74,"endTime":5318.04,"body":"Okay, cool. Me,"},{"speaker":"Nick Lincoln","startTime":5315.74,"endTime":5318.04,"body":"new podcast I've discovered."},{"speaker":"Nick Lincoln","startTime":5318.04,"endTime":5320.8,"body":"It's been around forever. It's"},{"speaker":"Nick Lincoln","startTime":5318.04,"endTime":5320.8,"body":"about 700 episodes, and they"},{"speaker":"Nick Lincoln","startTime":5320.8,"endTime":5322.96,"body":"knock one out every three or"},{"speaker":"Nick Lincoln","startTime":5320.8,"endTime":5322.96,"body":"four days, and they're quite the"},{"speaker":"Nick Lincoln","startTime":5322.96,"endTime":5325.66,"body":"long form podcast. But the"},{"speaker":"Nick Lincoln","startTime":5322.96,"endTime":5325.66,"body":"series is called, we study"},{"speaker":"Nick Lincoln","startTime":5325.66,"endTime":5328.18,"body":"billionaires. The latest episode"},{"speaker":"Nick Lincoln","startTime":5325.66,"endTime":5328.18,"body":"is a two and a half hour"},{"speaker":"Nick Lincoln","startTime":5328.18,"endTime":5332.98,"body":"interview with your friend Andy"},{"speaker":"Nick Lincoln","startTime":5328.18,"endTime":5332.98,"body":"and your friend Terry Smith. But"},{"speaker":"Nick Lincoln","startTime":5332.98,"endTime":5336.0999999999995,"body":"he really goes childhood and"},{"speaker":"Nick Lincoln","startTime":5332.98,"endTime":5336.0999999999995,"body":"everything, and he's, you know,"},{"speaker":"Nick Lincoln","startTime":5336.0999999999995,"endTime":5338.7,"body":"he's you know, we he's an active"},{"speaker":"Nick Lincoln","startTime":5336.0999999999995,"endTime":5338.7,"body":"fund manager. Obviously, I'm"},{"speaker":"Nick Lincoln","startTime":5338.7,"endTime":5340.92,"body":"sure Barney, you've heard of"},{"speaker":"Nick Lincoln","startTime":5338.7,"endTime":5340.92,"body":"Terry Smith as well. He's"},{"speaker":"Nick Lincoln","startTime":5340.92,"endTime":5343.26,"body":"probably the UK's most high"},{"speaker":"Nick Lincoln","startTime":5340.92,"endTime":5343.26,"body":"profile fan manager at the"},{"speaker":"Nick Lincoln","startTime":5343.26,"endTime":5345.78,"body":"moment. But regardless of what"},{"speaker":"Nick Lincoln","startTime":5343.26,"endTime":5345.78,"body":"you think about active fund"},{"speaker":"Nick Lincoln","startTime":5345.78,"endTime":5347.94,"body":"management, he is an"},{"speaker":"Nick Lincoln","startTime":5345.78,"endTime":5347.94,"body":"entertaining and entertaining"},{"speaker":"Nick Lincoln","startTime":5348.12,"endTime":5350.7,"body":"Listen, so two and a half hours."},{"speaker":"Nick Lincoln","startTime":5348.12,"endTime":5350.7,"body":"Nick, well, the show is two"},{"speaker":"Nick Lincoln","startTime":5350.7,"endTime":5353.82,"body":"hours. 25 I mean, it just"},{"speaker":"Nick Lincoln","startTime":5350.7,"endTime":5353.82,"body":"started the show. Great. Yeah."},{"speaker":"Nick Lincoln","startTime":5353.82,"endTime":5356.34,"body":"So there we go. So there's me"},{"speaker":"Nick Lincoln","startTime":5353.82,"endTime":5356.34,"body":"and Barney, by the way, if"},{"speaker":"Nick Lincoln","startTime":5356.4,"endTime":5358.94,"body":"you've got, if you've got any,"},{"speaker":"Nick Lincoln","startTime":5356.4,"endTime":5358.94,"body":"if you've got one resource to"},{"speaker":"Nick Lincoln","startTime":5358.94,"endTime":5361.28,"body":"give to the TRAPPIST that you"},{"speaker":"Nick Lincoln","startTime":5358.94,"endTime":5361.28,"body":"would recommend, maybe I'll come"},{"speaker":"Nick Lincoln","startTime":5361.28,"endTime":5364.22,"body":"to you last just to put you on"},{"speaker":"Nick Lincoln","startTime":5361.28,"endTime":5364.22,"body":"the spot, just I've got one."},{"speaker":"Nick Lincoln","startTime":5364.22,"endTime":5368.12,"body":"Okay, cool. Um, right. Mister"},{"speaker":"Nick Lincoln","startTime":5364.22,"endTime":5368.12,"body":"Hart. Nava, I'm gone. Sorry. Can"},{"speaker":"Nick Lincoln","startTime":5368.96,"endTime":5371.18,"body":"you not pronounce it? Nick,"},{"speaker":"Nick Lincoln","startTime":5368.96,"endTime":5371.18,"body":"well, naval Ravi, can, but you"},{"speaker":"Nick Lincoln","startTime":5371.18,"endTime":5373.4,"body":"don't like it when I start"},{"speaker":"Nick Lincoln","startTime":5371.18,"endTime":5373.4,"body":"announcing the culture corners,"},{"speaker":"Nick Lincoln","startTime":5373.4,"endTime":5375.0199999999995,"body":"it's gotta be silence. So I'm"},{"speaker":"Nick Lincoln","startTime":5373.4,"endTime":5375.0199999999995,"body":"trying to be"},{"speaker":"Andy Hart","startTime":5375.439,"endTime":5378.579,"body":"silent. Okay, so mine"},{"speaker":"Andy Hart","startTime":5375.439,"endTime":5378.579,"body":"is a podcast. I watch a YouTube"},{"speaker":"Andy Hart","startTime":5378.579,"endTime":5381.759,"body":"podcast channels, naval"},{"speaker":"Andy Hart","startTime":5378.579,"endTime":5381.759,"body":"Ravikant, who is a very deep,"},{"speaker":"Andy Hart","startTime":5381.759,"endTime":5385.899,"body":"wise thinker, is on the Ranveer"},{"speaker":"Andy Hart","startTime":5381.759,"endTime":5385.899,"body":"show, which I believe is on the"},{"speaker":"Andy Hart","startTime":5385.899,"endTime":5389.079,"body":"biggest shows in India. Only"},{"speaker":"Andy Hart","startTime":5385.899,"endTime":5389.079,"body":"from listening to this latest"},{"speaker":"Andy Hart","startTime":5389.379,"endTime":5393.579,"body":"one, lessons on growth, life,"},{"speaker":"Andy Hart","startTime":5389.379,"endTime":5393.579,"body":"spirituality, love, family and"},{"speaker":"Andy Hart","startTime":5393.579,"endTime":5396.479,"body":"more, if you're a fan of naval"},{"speaker":"Andy Hart","startTime":5393.579,"endTime":5396.479,"body":"Ravikant, who's come out with"},{"speaker":"Andy Hart","startTime":5396.899,"endTime":5400.559,"body":"the laws of wealth. He's been on"},{"speaker":"Andy Hart","startTime":5396.899,"endTime":5400.559,"body":"the Tim buries podcast, which is"},{"speaker":"Andy Hart","startTime":5400.559,"endTime":5404.159,"body":"the most downloaded Tim Ferriss"},{"speaker":"Andy Hart","startTime":5400.559,"endTime":5404.159,"body":"podcast. He's way too deep"},{"speaker":"Andy Hart","startTime":5404.159,"endTime":5406.499,"body":"thinking for you boys. I'm sure"},{"speaker":"Andy Hart","startTime":5404.159,"endTime":5406.499,"body":"Barney's listening to it, but"},{"speaker":"Andy Hart","startTime":5406.559,"endTime":5408.659,"body":"that's my culture corner. Over"},{"speaker":"Andy Hart","startTime":5406.559,"endTime":5408.659,"body":"to you, Barney."},{"speaker":"Barney Whiter","startTime":5410.519,"endTime":5414.419,"body":"So yeah, my"},{"speaker":"Barney Whiter","startTime":5410.519,"endTime":5414.419,"body":"greatest claim to fame is naval"},{"speaker":"Barney Whiter","startTime":5414.419,"endTime":5416.339,"body":"Ravikant answered me on Twitter."},{"speaker":"Unknown","startTime":5418.559,"endTime":5419.899,"body":"Hey, he's a fan."},{"speaker":"Barney Whiter","startTime":5421.04,"endTime":5423.5,"body":"So my, my, my"},{"speaker":"Barney Whiter","startTime":5421.04,"endTime":5423.5,"body":"suggestion, if you want to"},{"speaker":"Barney Whiter","startTime":5423.5,"endTime":5428.12,"body":"understand what's coming in the"},{"speaker":"Barney Whiter","startTime":5423.5,"endTime":5428.12,"body":"US and what the new regime"},{"speaker":"Barney Whiter","startTime":5428.54,"endTime":5435.44,"body":"holds, watch the LEX Fridman"},{"speaker":"Barney Whiter","startTime":5428.54,"endTime":5435.44,"body":"interview of Mark Andreessen."},{"speaker":"Barney Whiter","startTime":5436.28,"endTime":5442.66,"body":"That was, I think it was 10 days"},{"speaker":"Barney Whiter","startTime":5436.28,"endTime":5442.66,"body":"ago, and Mark Andreessen is"},{"speaker":"Barney Whiter","startTime":5442.66,"endTime":5450.28,"body":"essentially the guy who has been"},{"speaker":"Barney Whiter","startTime":5442.66,"endTime":5450.28,"body":"coordinating the Silicon Valley"},{"speaker":"Barney Whiter","startTime":5450.34,"endTime":5455.74,"body":"assistance to Trump and so. And"},{"speaker":"Barney Whiter","startTime":5450.34,"endTime":5455.74,"body":"Mark Andreessen is plugged in"},{"speaker":"Barney Whiter","startTime":5455.74,"endTime":5459.42,"body":"with David Sacks, the new AI and"},{"speaker":"Barney Whiter","startTime":5455.74,"endTime":5459.42,"body":"cryptos are, he's plugged in"},{"speaker":"Barney Whiter","startTime":5459.42,"endTime":5463.92,"body":"with Elon Musk, and he's kind of"},{"speaker":"Barney Whiter","startTime":5459.42,"endTime":5463.92,"body":"like, he's the sort of, in some"},{"speaker":"Barney Whiter","startTime":5463.92,"endTime":5467.22,"body":"ways, he's the sort of less"},{"speaker":"Barney Whiter","startTime":5463.92,"endTime":5467.22,"body":"visible power behind the throne."},{"speaker":"Nick Lincoln","startTime":5469.2,"endTime":5472.68,"body":"Do you listen to"},{"speaker":"Nick Lincoln","startTime":5469.2,"endTime":5472.68,"body":"people? Yes, yeah, yeah,"},{"speaker":"Alan Smith","startTime":5473.939,"endTime":5477.259,"body":"yeah. I, I've i."},{"speaker":"Alan Smith","startTime":5473.939,"endTime":5477.259,"body":"What I've watched that woman,"},{"speaker":"Alan Smith","startTime":5477.259,"endTime":5481.879,"body":"the LEX Fridman Andreessen. My"},{"speaker":"Alan Smith","startTime":5477.259,"endTime":5481.879,"body":"god, he's He talks so quickly,"},{"speaker":"Alan Smith","startTime":5482.239,"endTime":5484.699,"body":"and yet the podcast is still"},{"speaker":"Alan Smith","startTime":5482.239,"endTime":5484.699,"body":"about three and a half hours"},{"speaker":"Nick Lincoln","startTime":5484.94,"endTime":5486.08,"body":"long talk. So"},{"speaker":"Nick Lincoln","startTime":5484.94,"endTime":5486.08,"body":"slowly."},{"speaker":"Andy Hart","startTime":5488.059,"endTime":5491.419,"body":"Yeah, that's exactly"},{"speaker":"Andy Hart","startTime":5488.059,"endTime":5491.419,"body":"right. One at 2x speed and one"},{"speaker":"Andy Hart","startTime":5491.419,"endTime":5495.499,"body":"at 05, at 1.5 you're buggered."},{"speaker":"Andy Hart","startTime":5491.419,"endTime":5495.499,"body":"This one normal. This one's"},{"speaker":"Andy Hart","startTime":5495.499,"endTime":5495.979,"body":"like, yeah,"},{"speaker":"Alan Smith","startTime":5495.98,"endTime":5497.08,"body":"it's, it's good."},{"speaker":"Nick Lincoln","startTime":5498.22,"endTime":5500.38,"body":"All right, okay,"},{"speaker":"Nick Lincoln","startTime":5498.22,"endTime":5500.38,"body":"all right. Are we there? Super"},{"speaker":"Nick Lincoln","startTime":5500.44,"endTime":5502.78,"body":"Are we there? Barney, thanks"},{"speaker":"Nick Lincoln","startTime":5500.44,"endTime":5502.78,"body":"very much, my friend, for coming"},{"speaker":"Nick Lincoln","startTime":5502.78,"endTime":5503.2,"body":"on the"},{"speaker":"Unknown","startTime":5503.2,"endTime":5505.24,"body":"show. Thank you guys."},{"speaker":"Unknown","startTime":5503.2,"endTime":5505.24,"body":"Thank you, Barney, that was"},{"speaker":"Unknown","startTime":5505.24,"endTime":5506.62,"body":"brilliant escape artist"},{"speaker":"Nick Lincoln","startTime":5507.22,"endTime":5509.44,"body":"got me. There you"},{"speaker":"Nick Lincoln","startTime":5507.22,"endTime":5509.44,"body":"go, dear TRAPPIST, Episode 64"},{"speaker":"Nick Lincoln","startTime":5509.62,"endTime":5512.44,"body":"comes to a close, and another"},{"speaker":"Nick Lincoln","startTime":5509.62,"endTime":5512.44,"body":"part of trap slides down the U"},{"speaker":"Nick Lincoln","startTime":5512.44,"endTime":5515.44,"body":"bend of Father Time. Thank you"},{"speaker":"Nick Lincoln","startTime":5512.44,"endTime":5515.44,"body":"for your precious time. Do leave"},{"speaker":"Nick Lincoln","startTime":5515.44,"endTime":5517.86,"body":"a review. Barney, leave a"},{"speaker":"Nick Lincoln","startTime":5515.44,"endTime":5517.86,"body":"review. Okay, six out of five"},{"speaker":"Nick Lincoln","startTime":5517.86,"endTime":5520.62,"body":"stars on iTunes is mandatory,"},{"speaker":"Nick Lincoln","startTime":5517.86,"endTime":5520.62,"body":"but until the next time, dear"},{"speaker":"Nick Lincoln","startTime":5520.62,"endTime":5523.38,"body":"TRAPPIST, take care out there"},{"speaker":"Nick Lincoln","startTime":5520.62,"endTime":5523.38,"body":"and we will see you on the other"},{"speaker":"Nick Lincoln","startTime":5523.38,"endTime":5525.54,"body":"side. Goodbye. Bye,"},{"speaker":"Unknown","startTime":5526.62,"endTime":5527.4,"body":"bye."},{"speaker":"Nick Lincoln","startTime":5528.599,"endTime":5529.919,"body":"Music's not"},{"speaker":"Nick Lincoln","startTime":5528.599,"endTime":5529.919,"body":"starting."},{"speaker":"Unknown","startTime":5530.939,"endTime":5534.719,"body":"Come on, absolute"},{"speaker":"Unknown","startTime":5530.939,"endTime":5534.719,"body":"shambles. Here we go. You."}]}