{"version":"1.0.0","segments":[{"speaker":"Stanley Leong","startTime":0.12,"endTime":1.62,"body":"So when I'm at a"},{"speaker":"Stanley Leong","startTime":0.12,"endTime":1.62,"body":"party and I want to talk to"},{"speaker":"Stanley Leong","startTime":1.71,"endTime":4.62,"body":"someone about what I do, there's"},{"speaker":"Stanley Leong","startTime":1.71,"endTime":4.62,"body":"there's a very very tiny"},{"speaker":"Stanley Leong","startTime":4.92,"endTime":7.32,"body":"percentage of the population"},{"speaker":"Stanley Leong","startTime":4.92,"endTime":7.32,"body":"that can that can talk with me."},{"speaker":"Stanley Leong","startTime":7.83,"endTime":10.23,"body":"Whereas when I when I when I got"},{"speaker":"Stanley Leong","startTime":7.83,"endTime":10.23,"body":"into finance, now all of a"},{"speaker":"Stanley Leong","startTime":10.32,"endTime":12.33,"body":"sudden this is something that"},{"speaker":"Stanley Leong","startTime":10.32,"endTime":12.33,"body":"everyone deals with, right? So."},{"speaker":"Aaron Moncur","startTime":25.76,"endTime":28.43,"body":"Hello and welcome"},{"speaker":"Aaron Moncur","startTime":25.76,"endTime":28.43,"body":"to another exciting episode of"},{"speaker":"Aaron Moncur","startTime":28.64,"endTime":32.9,"body":"the Being an Engineer podcast."},{"speaker":"Aaron Moncur","startTime":28.64,"endTime":32.9,"body":"Today we have with us Stanley"},{"speaker":"Aaron Moncur","startTime":33.17,"endTime":37.43,"body":"Leong, a former electrical"},{"speaker":"Aaron Moncur","startTime":33.17,"endTime":37.43,"body":"engineer turned private wealth"},{"speaker":"Aaron Moncur","startTime":37.52,"endTime":42.31,"body":"advisor, best-selling author,"},{"speaker":"Aaron Moncur","startTime":37.52,"endTime":42.31,"body":"and financial advisor practice"},{"speaker":"Aaron Moncur","startTime":42.43,"endTime":46.42,"body":"consultant. After earning his"},{"speaker":"Aaron Moncur","startTime":42.43,"endTime":46.42,"body":"bachelor's and master's in"},{"speaker":"Aaron Moncur","startTime":46.54,"endTime":49.3,"body":"electrical engineering from"},{"speaker":"Aaron Moncur","startTime":46.54,"endTime":49.3,"body":"Cornell, and working as an"},{"speaker":"Aaron Moncur","startTime":49.42,"endTime":53.38,"body":"engineer at IBM and agilent,"},{"speaker":"Aaron Moncur","startTime":49.42,"endTime":53.38,"body":"Stanley transitioned into wealth"},{"speaker":"Aaron Moncur","startTime":53.53,"endTime":56.68,"body":"management, where he now focuses"},{"speaker":"Aaron Moncur","startTime":53.53,"endTime":56.68,"body":"on helping engineers,"},{"speaker":"Aaron Moncur","startTime":56.92,"endTime":60.42,"body":"executives, and high-tech"},{"speaker":"Aaron Moncur","startTime":56.92,"endTime":60.42,"body":"professionals think more"},{"speaker":"Aaron Moncur","startTime":60.51,"endTime":63.78,"body":"strategically about money, risk,"},{"speaker":"Aaron Moncur","startTime":60.51,"endTime":63.78,"body":"equity, compensation,"},{"speaker":"Aaron Moncur","startTime":63.87,"endTime":67.17,"body":"retirement, and long-term"},{"speaker":"Aaron Moncur","startTime":63.87,"endTime":67.17,"body":"financial decision making. He's"},{"speaker":"Aaron Moncur","startTime":67.17,"endTime":70.95,"body":"the author of Engineering Your"},{"speaker":"Aaron Moncur","startTime":67.17,"endTime":70.95,"body":"Finances and brings a uniquely"},{"speaker":"Aaron Moncur","startTime":71.19,"endTime":74.4,"body":"analytical systems thinking"},{"speaker":"Aaron Moncur","startTime":71.19,"endTime":74.4,"body":"approach to personal finance."},{"speaker":"Aaron Moncur","startTime":75.27,"endTime":76.65,"body":"Welcome to the show, Stanley."},{"speaker":"Stanley Leong","startTime":77.28,"endTime":78.6,"body":"Great, thank you,"},{"speaker":"Stanley Leong","startTime":77.28,"endTime":78.6,"body":"Aaron. Thank you for having me."},{"speaker":"Aaron Moncur","startTime":79.74,"endTime":81.92,"body":"So we were talking"},{"speaker":"Aaron Moncur","startTime":79.74,"endTime":81.92,"body":"about this a little bit before"},{"speaker":"Aaron Moncur","startTime":82.01,"endTime":85.91,"body":"we we hit the record button, but"},{"speaker":"Aaron Moncur","startTime":82.01,"endTime":85.91,"body":"I've been I've been excited for"},{"speaker":"Aaron Moncur","startTime":85.94,"endTime":91.28,"body":"this episode because I have done"},{"speaker":"Aaron Moncur","startTime":85.94,"endTime":91.28,"body":"now I think over 350 of these"},{"speaker":"Aaron Moncur","startTime":91.43,"endTime":94.07,"body":"being an engineer podcast"},{"speaker":"Aaron Moncur","startTime":91.43,"endTime":94.07,"body":"interviews, and they've been"},{"speaker":"Aaron Moncur","startTime":94.22,"endTime":97.07,"body":"wonderful. I've gotten to know"},{"speaker":"Aaron Moncur","startTime":94.22,"endTime":97.07,"body":"so many exciting people, and I"},{"speaker":"Aaron Moncur","startTime":97.19,"endTime":102.97,"body":"personally have learned so so"},{"speaker":"Aaron Moncur","startTime":97.19,"endTime":102.97,"body":"much. Nevertheless, if I'm being"},{"speaker":"Aaron Moncur","startTime":103.09,"endTime":106.6,"body":"perfectly honest, I would like"},{"speaker":"Aaron Moncur","startTime":103.09,"endTime":106.6,"body":"to start introducing some"},{"speaker":"Aaron Moncur","startTime":106.69,"endTime":109.9,"body":"different topics. Right, same"},{"speaker":"Aaron Moncur","startTime":106.69,"endTime":109.9,"body":"old thing every time."},{"speaker":"Aaron Moncur","startTime":110.35,"endTime":113.47,"body":"Engineering is great; I love it."},{"speaker":"Aaron Moncur","startTime":110.35,"endTime":113.47,"body":"Obviously, it would also be"},{"speaker":"Aaron Moncur","startTime":113.59,"endTime":117.4,"body":"interesting to start introducing"},{"speaker":"Aaron Moncur","startTime":113.59,"endTime":117.4,"body":"some new topics. So, when when"},{"speaker":"Aaron Moncur","startTime":117.43,"endTime":121.38,"body":"your name came across my desk"},{"speaker":"Aaron Moncur","startTime":117.43,"endTime":121.38,"body":"and the wealth advisement that"},{"speaker":"Aaron Moncur","startTime":121.47,"endTime":123.51,"body":"that you do, and you have an"},{"speaker":"Aaron Moncur","startTime":121.47,"endTime":123.51,"body":"engineering background. I"},{"speaker":"Aaron Moncur","startTime":123.54,"endTime":126.42,"body":"thought, oh, this is perfect."},{"speaker":"Aaron Moncur","startTime":123.54,"endTime":126.42,"body":"This would be a great kind of"},{"speaker":"Aaron Moncur","startTime":126.54,"endTime":130.59,"body":"segue into to testing out some"},{"speaker":"Aaron Moncur","startTime":126.54,"endTime":130.59,"body":"new types of content that"},{"speaker":"Aaron Moncur","startTime":130.77,"endTime":134.49,"body":"engineers, I hope, will still"},{"speaker":"Aaron Moncur","startTime":130.77,"endTime":134.49,"body":"find very interesting and"},{"speaker":"Aaron Moncur","startTime":134.55,"endTime":138.09,"body":"relevant and useful, but"},{"speaker":"Aaron Moncur","startTime":134.55,"endTime":138.09,"body":"deviates a little bit from the"},{"speaker":"Aaron Moncur","startTime":138.12,"endTime":143.09,"body":"typical, you know, very strictly"},{"speaker":"Aaron Moncur","startTime":138.12,"endTime":143.09,"body":"engineering focused content that"},{"speaker":"Aaron Moncur","startTime":143.51,"endTime":146.42,"body":"that we've been producing for"},{"speaker":"Aaron Moncur","startTime":143.51,"endTime":146.42,"body":"the last seven years. So great!"},{"speaker":"Aaron Moncur","startTime":146.69,"endTime":150.83,"body":"Here we are, Day of We get to"},{"speaker":"Aaron Moncur","startTime":146.69,"endTime":150.83,"body":"jump into this new topic that I"},{"speaker":"Aaron Moncur","startTime":150.92,"endTime":153.71,"body":"think everyone is going to be"},{"speaker":"Aaron Moncur","startTime":150.92,"endTime":153.71,"body":"interested in. I mean, you know,"},{"speaker":"Aaron Moncur","startTime":154.13,"endTime":157.64,"body":"who doesn't want more money,"},{"speaker":"Aaron Moncur","startTime":154.13,"endTime":157.64,"body":"right? Who doesn't want to plan"},{"speaker":"Aaron Moncur","startTime":157.7,"endTime":160.15,"body":"a little bit better with their"},{"speaker":"Aaron Moncur","startTime":157.7,"endTime":160.15,"body":"personal finances for the"},{"speaker":"Aaron Moncur","startTime":160.24,"endTime":163.99,"body":"future, and and I think that's"},{"speaker":"Aaron Moncur","startTime":160.24,"endTime":163.99,"body":"what you're going to help us"},{"speaker":"Aaron Moncur","startTime":164.05,"endTime":165.1,"body":"with today. Am I right?"},{"speaker":"Stanley Leong","startTime":165.88,"endTime":167.56,"body":"Absolutely. Yeah,"},{"speaker":"Stanley Leong","startTime":165.88,"endTime":167.56,"body":"I'm looking forward to it. And"},{"speaker":"Stanley Leong","startTime":167.77,"endTime":170.08,"body":"it's funny you bring that up. It"},{"speaker":"Stanley Leong","startTime":167.77,"endTime":170.08,"body":"it is one thing I found very"},{"speaker":"Stanley Leong","startTime":170.17,"endTime":173.02,"body":"different from the engineering"},{"speaker":"Stanley Leong","startTime":170.17,"endTime":173.02,"body":"world to the finance world. Is"},{"speaker":"Stanley Leong","startTime":173.02,"endTime":178.45,"body":"as an engineer, I I I worked on"},{"speaker":"Stanley Leong","startTime":173.02,"endTime":178.45,"body":"a very specific you know part of"},{"speaker":"Stanley Leong","startTime":178.48,"endTime":181.86,"body":"a computer chip that you know"},{"speaker":"Stanley Leong","startTime":178.48,"endTime":181.86,"body":"most people wouldn't even know"},{"speaker":"Stanley Leong","startTime":181.95,"endTime":185.07,"body":"what that was unless they worked"},{"speaker":"Stanley Leong","startTime":181.95,"endTime":185.07,"body":"in the industry. So when I'm at"},{"speaker":"Stanley Leong","startTime":185.07,"endTime":187.47,"body":"a party and I want to talk to"},{"speaker":"Stanley Leong","startTime":185.07,"endTime":187.47,"body":"someone about what I do, there's"},{"speaker":"Stanley Leong","startTime":187.71,"endTime":190.35,"body":"there's a very very tiny"},{"speaker":"Stanley Leong","startTime":187.71,"endTime":190.35,"body":"percentage of the population"},{"speaker":"Stanley Leong","startTime":190.38,"endTime":193.53,"body":"that can that can talk with me."},{"speaker":"Stanley Leong","startTime":190.38,"endTime":193.53,"body":"Whereas when I when I when I got"},{"speaker":"Stanley Leong","startTime":193.53,"endTime":195.51,"body":"into finance, now all of a"},{"speaker":"Stanley Leong","startTime":193.53,"endTime":195.51,"body":"sudden this is something that"},{"speaker":"Stanley Leong","startTime":195.63,"endTime":198.09,"body":"everyone deals with, right? So"},{"speaker":"Stanley Leong","startTime":195.63,"endTime":198.09,"body":"so it's a very different thing"},{"speaker":"Stanley Leong","startTime":198.18,"endTime":198.75,"body":"just from that. Yeah,"},{"speaker":"Aaron Moncur","startTime":199.44,"endTime":201.77,"body":"that's right. You"},{"speaker":"Aaron Moncur","startTime":199.44,"endTime":201.77,"body":"know, running a business. I"},{"speaker":"Aaron Moncur","startTime":201.86,"endTime":205.01,"body":"mean, the podcast is not my"},{"speaker":"Aaron Moncur","startTime":201.86,"endTime":205.01,"body":"business. It's it's a part of"},{"speaker":"Aaron Moncur","startTime":205.01,"endTime":207.71,"body":"the business. the The real"},{"speaker":"Aaron Moncur","startTime":205.01,"endTime":207.71,"body":"business is engineering"},{"speaker":"Aaron Moncur","startTime":207.77,"endTime":210.35,"body":"services. We build automated"},{"speaker":"Aaron Moncur","startTime":207.77,"endTime":210.35,"body":"equipment, machine design,"},{"speaker":"Aaron Moncur","startTime":210.47,"endTime":215.9,"body":"fixtures, tooling, all that, all"},{"speaker":"Aaron Moncur","startTime":210.47,"endTime":215.9,"body":"those things. And 17 years now,"},{"speaker":"Aaron Moncur","startTime":216.08,"endTime":219.38,"body":"we've been in business, and"},{"speaker":"Aaron Moncur","startTime":216.08,"endTime":219.38,"body":"obviously, I think a lot about"},{"speaker":"Aaron Moncur","startTime":219.59,"endTime":223.93,"body":"the finances of of the business,"},{"speaker":"Aaron Moncur","startTime":219.59,"endTime":223.93,"body":"and I've I've had a chance to"},{"speaker":"Aaron Moncur","startTime":224.02,"endTime":228.4,"body":"think very deeply about this"},{"speaker":"Aaron Moncur","startTime":224.02,"endTime":228.4,"body":"over the years, and it it might"},{"speaker":"Aaron Moncur","startTime":228.55,"endTime":232.81,"body":"seem you know hindsight is 2020"},{"speaker":"Aaron Moncur","startTime":228.55,"endTime":232.81,"body":"I guess, but I've come to this"},{"speaker":"Aaron Moncur","startTime":234.13,"endTime":238.24,"body":"epiphany or or realization, and"},{"speaker":"Aaron Moncur","startTime":234.13,"endTime":238.24,"body":"probably 98% of the people out"},{"speaker":"Aaron Moncur","startTime":238.3,"endTime":241.05,"body":"there who are all much smarter"},{"speaker":"Aaron Moncur","startTime":238.3,"endTime":241.05,"body":"than me, including yourself,"},{"speaker":"Aaron Moncur","startTime":241.11,"endTime":244.11,"body":"Stanley, are going to be like,"},{"speaker":"Aaron Moncur","startTime":241.11,"endTime":244.11,"body":"yeah, duh. Of course, that's the"},{"speaker":"Aaron Moncur","startTime":244.2,"endTime":247.14,"body":"case. But this realization that"},{"speaker":"Aaron Moncur","startTime":244.2,"endTime":247.14,"body":"took me many years to come to"},{"speaker":"Aaron Moncur","startTime":247.65,"endTime":254.1,"body":"was that the closer you are to"},{"speaker":"Aaron Moncur","startTime":247.65,"endTime":254.1,"body":"the closer you you are directly"},{"speaker":"Aaron Moncur","startTime":254.22,"endTime":258.3,"body":"to the revenue, the more you can"},{"speaker":"Aaron Moncur","startTime":254.22,"endTime":258.3,"body":"charge for your your product or"},{"speaker":"Aaron Moncur","startTime":258.39,"endTime":261.44,"body":"service. And so we're"},{"speaker":"Aaron Moncur","startTime":258.39,"endTime":261.44,"body":"engineering services. We build"},{"speaker":"Aaron Moncur","startTime":261.44,"endTime":265.79,"body":"these machines that then"},{"speaker":"Aaron Moncur","startTime":261.44,"endTime":265.79,"body":"manufacture a a widget that then"},{"speaker":"Aaron Moncur","startTime":265.82,"endTime":269.63,"body":"the company sells for revenue."},{"speaker":"Aaron Moncur","startTime":265.82,"endTime":269.63,"body":"So we're at best one step"},{"speaker":"Aaron Moncur","startTime":269.96,"endTime":273.5,"body":"removed from the widget that"},{"speaker":"Aaron Moncur","startTime":269.96,"endTime":273.5,"body":"actually brings the revenue in."},{"speaker":"Aaron Moncur","startTime":273.77,"endTime":276.59,"body":"Which means that in our"},{"speaker":"Aaron Moncur","startTime":273.77,"endTime":276.59,"body":"customers, you know, budgets,"},{"speaker":"Aaron Moncur","startTime":276.68,"endTime":278.96,"body":"we're just we're we're an"},{"speaker":"Aaron Moncur","startTime":276.68,"endTime":278.96,"body":"expense. We're a line item"},{"speaker":"Aaron Moncur","startTime":279.05,"endTime":282.49,"body":"expense that they want to"},{"speaker":"Aaron Moncur","startTime":279.05,"endTime":282.49,"body":"minimize, and you know, as a"},{"speaker":"Aaron Moncur","startTime":282.55,"endTime":286.75,"body":"result, sometimes we do okay,"},{"speaker":"Aaron Moncur","startTime":282.55,"endTime":286.75,"body":"and sometimes we don't. But if"},{"speaker":"Aaron Moncur","startTime":286.81,"endTime":289.54,"body":"if we can, if we can, this is"},{"speaker":"Aaron Moncur","startTime":286.81,"endTime":289.54,"body":"something we're working on"},{"speaker":"Aaron Moncur","startTime":289.69,"endTime":294.31,"body":"internally. If we can sell our"},{"speaker":"Aaron Moncur","startTime":289.69,"endTime":294.31,"body":"own product, then we're no"},{"speaker":"Aaron Moncur","startTime":294.4,"endTime":297.82,"body":"longer one step removed. We're"},{"speaker":"Aaron Moncur","startTime":294.4,"endTime":297.82,"body":"we're directly associated with"},{"speaker":"Aaron Moncur","startTime":297.91,"endTime":304.17,"body":"that revenue generating and."},{"speaker":"Aaron Moncur","startTime":297.91,"endTime":304.17,"body":"Anyway, all that is to say that"},{"speaker":"Aaron Moncur","startTime":304.68,"endTime":308.52,"body":"I think that money and wealth"},{"speaker":"Aaron Moncur","startTime":304.68,"endTime":308.52,"body":"are very interesting topics, and"},{"speaker":"Aaron Moncur","startTime":308.58,"endTime":310.83,"body":"I'm I'm very eager to talk with"},{"speaker":"Aaron Moncur","startTime":308.58,"endTime":310.83,"body":"you today."},{"speaker":"Stanley Leong","startTime":311.4,"endTime":313.14,"body":"Yeah, absolutely."},{"speaker":"Stanley Leong","startTime":311.4,"endTime":313.14,"body":"I'm looking forward to it."},{"speaker":"Aaron Moncur","startTime":313.41,"endTime":315.48,"body":"Well, tell us a"},{"speaker":"Aaron Moncur","startTime":313.41,"endTime":315.48,"body":"little bit about your"},{"speaker":"Aaron Moncur","startTime":315.57,"endTime":317.85,"body":"background. So you were an"},{"speaker":"Aaron Moncur","startTime":315.57,"endTime":317.85,"body":"electrical engineer. You still,"},{"speaker":"Aaron Moncur","startTime":318.12,"endTime":320.84,"body":"I mean, once an electrical"},{"speaker":"Aaron Moncur","startTime":318.12,"endTime":320.84,"body":"engineer, always an electrical"},{"speaker":"Aaron Moncur","startTime":320.99,"endTime":324.83,"body":"engineer, but how did you make"},{"speaker":"Aaron Moncur","startTime":320.99,"endTime":324.83,"body":"this transition into wealth"},{"speaker":"Aaron Moncur","startTime":324.98,"endTime":325.43,"body":"advising?"},{"speaker":"Stanley Leong","startTime":326.18,"endTime":328.82,"body":"Yeah, so I got my"},{"speaker":"Stanley Leong","startTime":326.18,"endTime":328.82,"body":"engineering degree in the late"},{"speaker":"Stanley Leong","startTime":329.12,"endTime":332.18,"body":"'90s, and so it was you know the"},{"speaker":"Stanley Leong","startTime":329.12,"endTime":332.18,"body":"peak of the tech bubble, and I"},{"speaker":"Stanley Leong","startTime":332.3,"endTime":334.76,"body":"was in New York, you know,"},{"speaker":"Stanley Leong","startTime":332.3,"endTime":334.76,"body":"worked for IBM at the time, and"},{"speaker":"Stanley Leong","startTime":335.21,"endTime":338.09,"body":"everyone said if you were I did"},{"speaker":"Stanley Leong","startTime":335.21,"endTime":338.09,"body":"I did hardware design, I"},{"speaker":"Stanley Leong","startTime":338.15,"endTime":340.81,"body":"designed computer chips, and so"},{"speaker":"Stanley Leong","startTime":338.15,"endTime":340.81,"body":"everyone said if you were in"},{"speaker":"Stanley Leong","startTime":340.84,"endTime":344.23,"body":"Harvard design, you had to be in"},{"speaker":"Stanley Leong","startTime":340.84,"endTime":344.23,"body":"Silicon Valley, and so I pick"},{"speaker":"Stanley Leong","startTime":344.35,"endTime":348.04,"body":"up. You know, I was in my early"},{"speaker":"Stanley Leong","startTime":344.35,"endTime":348.04,"body":"20s. You know, pick up and and"},{"speaker":"Stanley Leong","startTime":348.34,"endTime":352.3,"body":"went to California. That's when"},{"speaker":"Stanley Leong","startTime":348.34,"endTime":352.3,"body":"I started working for Agilent"},{"speaker":"Stanley Leong","startTime":352.3,"endTime":357.58,"body":"Technologies in 2000 and then"},{"speaker":"Stanley Leong","startTime":352.3,"endTime":357.58,"body":"2002 I bought my first house in"},{"speaker":"Stanley Leong","startTime":357.7,"endTime":361.62,"body":"California, and I moved in on a"},{"speaker":"Stanley Leong","startTime":357.7,"endTime":361.62,"body":"Saturday, Sunday, sitting in my"},{"speaker":"Stanley Leong","startTime":361.86,"endTime":363.99,"body":"living room, just kind of"},{"speaker":"Stanley Leong","startTime":361.86,"endTime":363.99,"body":"patting myself on the back, how"},{"speaker":"Stanley Leong","startTime":364.47,"endTime":367.71,"body":"proud I was of buying my first"},{"speaker":"Stanley Leong","startTime":364.47,"endTime":367.71,"body":"house. Monday, I went to work"},{"speaker":"Stanley Leong","startTime":367.89,"endTime":370.47,"body":"and then got laid off, and so I"},{"speaker":"Stanley Leong","startTime":367.89,"endTime":370.47,"body":"was"},{"speaker":"Aaron Moncur","startTime":370.65,"endTime":371.73,"body":"no, yeah,"},{"speaker":"Stanley Leong","startTime":372.12,"endTime":374.25,"body":"yeah. Two days"},{"speaker":"Stanley Leong","startTime":372.12,"endTime":374.25,"body":"after I'd moved into my new"},{"speaker":"Stanley Leong","startTime":374.37,"endTime":375.18,"body":"house, and so kidding,"},{"speaker":"Aaron Moncur","startTime":375.87,"endTime":376.29,"body":"yeah. So"},{"speaker":"Stanley Leong","startTime":376.68,"endTime":378.99,"body":"a financially"},{"speaker":"Stanley Leong","startTime":376.68,"endTime":378.99,"body":"stressful, yeah, yeah,"},{"speaker":"Stanley Leong","startTime":379.41,"endTime":382.07,"body":"financially stressful time for"},{"speaker":"Stanley Leong","startTime":379.41,"endTime":382.07,"body":"me, of course, at the time, and"},{"speaker":"Stanley Leong","startTime":382.94,"endTime":386.42,"body":"and I didn't know what to do. Of"},{"speaker":"Stanley Leong","startTime":382.94,"endTime":386.42,"body":"course, I do. I do I just cash"},{"speaker":"Stanley Leong","startTime":386.51,"endTime":389.75,"body":"out my 401k to pay my mortgage,"},{"speaker":"Stanley Leong","startTime":386.51,"endTime":389.75,"body":"or do I sell the house I just"},{"speaker":"Stanley Leong","startTime":389.78,"endTime":393.23,"body":"bought? And I think the most"},{"speaker":"Stanley Leong","startTime":389.78,"endTime":393.23,"body":"frustrating thing was really"},{"speaker":"Stanley Leong","startTime":393.32,"endTime":396.26,"body":"that I didn't have anyone to go"},{"speaker":"Stanley Leong","startTime":393.32,"endTime":396.26,"body":"to for help. So I'd ask my my"},{"speaker":"Stanley Leong","startTime":396.41,"endTime":398.96,"body":"parents; they said one thing, my"},{"speaker":"Stanley Leong","startTime":396.41,"endTime":398.96,"body":"colleagues said another, my"},{"speaker":"Stanley Leong","startTime":399.02,"endTime":402.73,"body":"friends said something else, and"},{"speaker":"Stanley Leong","startTime":399.02,"endTime":402.73,"body":"so just really frustrated,"},{"speaker":"Stanley Leong","startTime":402.82,"endTime":406.42,"body":"didn't know what to do. As I was"},{"speaker":"Stanley Leong","startTime":402.82,"endTime":406.42,"body":"looking for for new engineering"},{"speaker":"Stanley Leong","startTime":406.48,"endTime":409.93,"body":"jobs at the time, I came across"},{"speaker":"Stanley Leong","startTime":406.48,"endTime":409.93,"body":"an ad for a financial advisor"},{"speaker":"Stanley Leong","startTime":410.02,"endTime":414.19,"body":"position at a large financial"},{"speaker":"Stanley Leong","startTime":410.02,"endTime":414.19,"body":"firm, and I thought, well, that"},{"speaker":"Stanley Leong","startTime":414.25,"endTime":416.44,"body":"might be interesting to do. You"},{"speaker":"Stanley Leong","startTime":414.25,"endTime":416.44,"body":"know, not only would I get to"},{"speaker":"Stanley Leong","startTime":416.5,"endTime":419.02,"body":"learn what to do for my own"},{"speaker":"Stanley Leong","startTime":416.5,"endTime":419.02,"body":"situation, but then I could also"},{"speaker":"Stanley Leong","startTime":419.02,"endTime":421.38,"body":"help other people that were in"},{"speaker":"Stanley Leong","startTime":419.02,"endTime":421.38,"body":"similar situations, you know."},{"speaker":"Stanley Leong","startTime":421.41,"endTime":424.17,"body":"This was 2002. Now the tech"},{"speaker":"Stanley Leong","startTime":421.41,"endTime":424.17,"body":"bubble would just burst. Lots of"},{"speaker":"Stanley Leong","startTime":424.23,"endTime":427.44,"body":"engineers are now getting laid"},{"speaker":"Stanley Leong","startTime":424.23,"endTime":427.44,"body":"off, and so with the"},{"speaker":"Stanley Leong","startTime":427.5,"endTime":429.87,"body":"encouragement of my girlfriend"},{"speaker":"Stanley Leong","startTime":427.5,"endTime":429.87,"body":"at the time, who is my wife now,"},{"speaker":"Stanley Leong","startTime":431.04,"endTime":433.89,"body":"I went in for the interview."},{"speaker":"Stanley Leong","startTime":431.04,"endTime":433.89,"body":"Somehow got through a couple"},{"speaker":"Stanley Leong","startTime":433.95,"endTime":437.22,"body":"other interviews and and got the"},{"speaker":"Stanley Leong","startTime":433.95,"endTime":437.22,"body":"offer. And I still remember"},{"speaker":"Stanley Leong","startTime":437.28,"endTime":440.1,"body":"driving home from that offer,"},{"speaker":"Stanley Leong","startTime":437.28,"endTime":440.1,"body":"just thinking, \"Oh, financial"},{"speaker":"Stanley Leong","startTime":440.1,"endTime":443.24,"body":"advisor. You know, how hard"},{"speaker":"Stanley Leong","startTime":440.1,"endTime":443.24,"body":"could that be? And then the next"},{"speaker":"Stanley Leong","startTime":443.3,"endTime":447.14,"body":"three years of my life were the"},{"speaker":"Stanley Leong","startTime":443.3,"endTime":447.14,"body":"most miserable, miserable years."},{"speaker":"Stanley Leong","startTime":447.65,"endTime":451.19,"body":"No, yeah, mainly. Well, you're"},{"speaker":"Stanley Leong","startTime":447.65,"endTime":451.19,"body":"starting your own business, so"},{"speaker":"Stanley Leong","startTime":451.37,"endTime":453.92,"body":"it's all the difficulties of you"},{"speaker":"Stanley Leong","startTime":451.37,"endTime":453.92,"body":"know starting things up. It was"},{"speaker":"Stanley Leong","startTime":454.07,"endTime":456.47,"body":"it was 100% commission, so"},{"speaker":"Stanley Leong","startTime":454.07,"endTime":456.47,"body":"you're really not getting paid"},{"speaker":"Stanley Leong","startTime":456.53,"endTime":460.39,"body":"much because I didn't have a"},{"speaker":"Stanley Leong","startTime":456.53,"endTime":460.39,"body":"client base at the time. It was"},{"speaker":"Stanley Leong","startTime":460.87,"endTime":465.04,"body":"you know working 60-hour weeks"},{"speaker":"Stanley Leong","startTime":460.87,"endTime":465.04,"body":"and just lots of pressure. The"},{"speaker":"Stanley Leong","startTime":465.22,"endTime":467.89,"body":"main thing, though, I think in"},{"speaker":"Stanley Leong","startTime":465.22,"endTime":467.89,"body":"hindsight, the thing that really"},{"speaker":"Stanley Leong","startTime":468.04,"endTime":470.17,"body":"stressed me out was back then we"},{"speaker":"Stanley Leong","startTime":468.04,"endTime":470.17,"body":"got all of our clients through"},{"speaker":"Stanley Leong","startTime":470.26,"endTime":474.1,"body":"cold calling, and that that's as"},{"speaker":"Stanley Leong","startTime":470.26,"endTime":474.1,"body":"an engineer I didn't know what"},{"speaker":"Stanley Leong","startTime":474.13,"endTime":476.05,"body":"cold calling really was. I"},{"speaker":"Stanley Leong","startTime":474.13,"endTime":476.05,"body":"thought you just read a script."},{"speaker":"Stanley Leong","startTime":476.05,"endTime":480.69,"body":"How hard could it be? And and I"},{"speaker":"Stanley Leong","startTime":476.05,"endTime":480.69,"body":"was just miserable. It's so"},{"speaker":"Aaron Moncur","startTime":480.81,"endTime":481.59,"body":"hard, isn't it?"},{"speaker":"Stanley Leong","startTime":481.83,"endTime":484.56,"body":"Yeah, I've, I've"},{"speaker":"Stanley Leong","startTime":481.83,"endTime":484.56,"body":"in my whole in my whole life,"},{"speaker":"Stanley Leong","startTime":484.68,"endTime":487.71,"body":"I'd never have to had to face"},{"speaker":"Stanley Leong","startTime":484.68,"endTime":487.71,"body":"rejection like that, you know,"},{"speaker":"Stanley Leong","startTime":487.89,"endTime":493.35,"body":"day in, day out, all the time."},{"speaker":"Stanley Leong","startTime":487.89,"endTime":493.35,"body":"It was that that I'm had I known"},{"speaker":"Stanley Leong","startTime":493.47,"endTime":496.2,"body":"what I was willing through, I,"},{"speaker":"Stanley Leong","startTime":493.47,"endTime":496.2,"body":"I, I don't think I would have"},{"speaker":"Stanley Leong","startTime":497.4,"endTime":499.35,"body":"done it. Wow, I said so. I'm"},{"speaker":"Stanley Leong","startTime":497.4,"endTime":499.35,"body":"glad I. My wife,"},{"speaker":"Aaron Moncur","startTime":500.49,"endTime":502.88,"body":"my wife worked in"},{"speaker":"Aaron Moncur","startTime":500.49,"endTime":502.88,"body":"a call center for just a few"},{"speaker":"Aaron Moncur","startTime":502.94,"endTime":506.42,"body":"weeks back in college, and she"},{"speaker":"Aaron Moncur","startTime":502.94,"endTime":506.42,"body":"recently reminded me of this"},{"speaker":"Aaron Moncur","startTime":506.51,"endTime":510.74,"body":"story we were talking about cold"},{"speaker":"Aaron Moncur","startTime":506.51,"endTime":510.74,"body":"calling for some reason. And she"},{"speaker":"Aaron Moncur","startTime":510.77,"endTime":513.86,"body":"she reminded me that when she"},{"speaker":"Aaron Moncur","startTime":510.77,"endTime":513.86,"body":"was working in this call center,"},{"speaker":"Aaron Moncur","startTime":514.16,"endTime":517.67,"body":"same thing you said, right? Just"},{"speaker":"Aaron Moncur","startTime":514.16,"endTime":517.67,"body":"rejection, rejection, rejection."},{"speaker":"Aaron Moncur","startTime":517.82,"endTime":520.84,"body":"It's just constant, right? And"},{"speaker":"Aaron Moncur","startTime":517.82,"endTime":520.84,"body":"some people can be kind of mean,"},{"speaker":"Aaron Moncur","startTime":520.87,"endTime":523.27,"body":"which you know I get. You're"},{"speaker":"Aaron Moncur","startTime":520.87,"endTime":523.27,"body":"you're kind of bothering them,"},{"speaker":"Aaron Moncur","startTime":523.54,"endTime":527.26,"body":"whatever. Anyway, she she"},{"speaker":"Aaron Moncur","startTime":523.54,"endTime":527.26,"body":"started getting like seriously"},{"speaker":"Aaron Moncur","startTime":527.38,"endTime":530.2,"body":"depressed, and she had to quit"},{"speaker":"Aaron Moncur","startTime":527.38,"endTime":530.2,"body":"because it was just so"},{"speaker":"Aaron Moncur","startTime":530.41,"endTime":535.18,"body":"depressing taking all these"},{"speaker":"Aaron Moncur","startTime":530.41,"endTime":535.18,"body":"sometimes hurtful comments and"},{"speaker":"Aaron Moncur","startTime":535.21,"endTime":539.74,"body":"just rejection. So yeah, yeah,"},{"speaker":"Aaron Moncur","startTime":535.21,"endTime":539.74,"body":"that's a a rough job. Yeah,"},{"speaker":"Stanley Leong","startTime":540.01,"endTime":541.5,"body":"yeah. They"},{"speaker":"Stanley Leong","startTime":540.01,"endTime":541.5,"body":"actually have a colleague, but"},{"speaker":"Stanley Leong","startTime":541.53,"endTime":544.92,"body":"that when when I was doing that,"},{"speaker":"Stanley Leong","startTime":541.53,"endTime":544.92,"body":"he actually had to quit his. He"},{"speaker":"Stanley Leong","startTime":545.07,"endTime":548.34,"body":"started getting like pre"},{"speaker":"Stanley Leong","startTime":545.07,"endTime":548.34,"body":"diabetic, and because of the"},{"speaker":"Stanley Leong","startTime":548.37,"endTime":551.7,"body":"stress, I think I think it was"},{"speaker":"Stanley Leong","startTime":548.37,"endTime":551.7,"body":"diabetic, and and the doctor"},{"speaker":"Stanley Leong","startTime":551.79,"endTime":554.58,"body":"basically said you can't, you"},{"speaker":"Stanley Leong","startTime":551.79,"endTime":554.58,"body":"have to quit this job. And as"},{"speaker":"Stanley Leong","startTime":554.64,"endTime":558.6,"body":"soon as he quit, he got healthy"},{"speaker":"Stanley Leong","startTime":554.64,"endTime":558.6,"body":"again. So so yeah, it was it was"},{"speaker":"Stanley Leong","startTime":558.66,"endTime":562.58,"body":"a lot of pressure. It was tough."},{"speaker":"Stanley Leong","startTime":558.66,"endTime":562.58,"body":"I I and it actually started"},{"speaker":"Stanley Leong","startTime":562.61,"endTime":566.84,"body":"affecting my health as well,"},{"speaker":"Stanley Leong","startTime":562.61,"endTime":566.84,"body":"even my relationship. My wife at"},{"speaker":"Stanley Leong","startTime":566.96,"endTime":569.81,"body":"some point was actually starting"},{"speaker":"Stanley Leong","startTime":566.96,"endTime":569.81,"body":"to give my resume out behind my"},{"speaker":"Stanley Leong","startTime":569.93,"endTime":572.51,"body":"back to her engineer friends,"},{"speaker":"Stanley Leong","startTime":569.93,"endTime":572.51,"body":"hoping I'd go back to engineer"},{"speaker":"Stanley Leong","startTime":572.72,"endTime":577.28,"body":"because because I was making her"},{"speaker":"Stanley Leong","startTime":572.72,"endTime":577.28,"body":"miserable. And so, but how"},{"speaker":"Aaron Moncur","startTime":577.34,"endTime":579.71,"body":"did you get past"},{"speaker":"Aaron Moncur","startTime":577.34,"endTime":579.71,"body":"that? You said a few years. It"},{"speaker":"Aaron Moncur","startTime":579.71,"endTime":583.0,"body":"was really really tough. How was"},{"speaker":"Aaron Moncur","startTime":579.71,"endTime":583.0,"body":"it? Just time and getting used"},{"speaker":"Aaron Moncur","startTime":583.03,"endTime":585.43,"body":"to it, or was there like a"},{"speaker":"Aaron Moncur","startTime":583.03,"endTime":585.43,"body":"trigger that changed things? A"},{"speaker":"Stanley Leong","startTime":585.82,"endTime":588.28,"body":"couple things."},{"speaker":"Stanley Leong","startTime":585.82,"endTime":588.28,"body":"Yeah, one was just persistence."},{"speaker":"Stanley Leong","startTime":588.91,"endTime":591.31,"body":"As as with a lot of things, you"},{"speaker":"Stanley Leong","startTime":588.91,"endTime":591.31,"body":"just got to keep grinding away."},{"speaker":"Stanley Leong","startTime":591.43,"endTime":593.62,"body":"As you start building up a"},{"speaker":"Stanley Leong","startTime":591.43,"endTime":593.62,"body":"client base, you don't have to"},{"speaker":"Stanley Leong","startTime":593.68,"endTime":597.82,"body":"cold call as much. I also"},{"speaker":"Stanley Leong","startTime":593.68,"endTime":597.82,"body":"proactively looked at just"},{"speaker":"Stanley Leong","startTime":598.09,"endTime":600.18,"body":"because I hated cold calling so"},{"speaker":"Stanley Leong","startTime":598.09,"endTime":600.18,"body":"much. Looked at although. Ways"},{"speaker":"Stanley Leong","startTime":600.18,"endTime":603.33,"body":"to get clients, and and so I was"},{"speaker":"Stanley Leong","startTime":600.18,"endTime":603.33,"body":"starting to do things like lunch"},{"speaker":"Stanley Leong","startTime":603.39,"endTime":606.39,"body":"and learns, and and little"},{"speaker":"Stanley Leong","startTime":603.39,"endTime":606.39,"body":"presentations and things. So I"},{"speaker":"Stanley Leong","startTime":606.39,"endTime":609.48,"body":"was starting to I branched out"},{"speaker":"Stanley Leong","startTime":606.39,"endTime":609.48,"body":"to other ways of getting clients"},{"speaker":"Stanley Leong","startTime":610.83,"endTime":615.09,"body":"earlier than most others. Just I"},{"speaker":"Stanley Leong","startTime":610.83,"endTime":615.09,"body":"hated that cold calling, but I"},{"speaker":"Stanley Leong","startTime":615.15,"endTime":618.36,"body":"think the big thing too in 2006"},{"speaker":"Stanley Leong","startTime":615.15,"endTime":618.36,"body":"I actually went independent and"},{"speaker":"Stanley Leong","startTime":618.57,"endTime":620.87,"body":"became an independent franchise"},{"speaker":"Stanley Leong","startTime":618.57,"endTime":620.87,"body":"owner of a large financial firm,"},{"speaker":"Stanley Leong","startTime":620.87,"endTime":624.23,"body":"which is where I am now, and and"},{"speaker":"Stanley Leong","startTime":620.87,"endTime":624.23,"body":"then things got started getting"},{"speaker":"Stanley Leong","startTime":624.29,"endTime":627.56,"body":"better there. I I started, you"},{"speaker":"Stanley Leong","startTime":624.29,"endTime":627.56,"body":"know, that was after three"},{"speaker":"Stanley Leong","startTime":627.62,"endTime":631.46,"body":"years, so I started getting my"},{"speaker":"Stanley Leong","startTime":627.62,"endTime":631.46,"body":"client base under me. I started"},{"speaker":"Stanley Leong","startTime":632.24,"endTime":634.01,"body":"just kind of getting my feet"},{"speaker":"Stanley Leong","startTime":632.24,"endTime":634.01,"body":"under me as well, and"},{"speaker":"Stanley Leong","startTime":634.25,"endTime":637.31,"body":"understanding the business and"},{"speaker":"Stanley Leong","startTime":634.25,"endTime":637.31,"body":"how to run things. And and then"},{"speaker":"Stanley Leong","startTime":637.37,"endTime":639.83,"body":"fast forward to today. Now now,"},{"speaker":"Stanley Leong","startTime":637.37,"endTime":639.83,"body":"of course, it's wonderful. Now I"},{"speaker":"Stanley Leong","startTime":639.92,"endTime":643.0,"body":"love it. I I can't imagine doing"},{"speaker":"Stanley Leong","startTime":639.92,"endTime":643.0,"body":"anything else. I actually I I"},{"speaker":"Stanley Leong","startTime":643.12,"endTime":645.37,"body":"have to pinch myself sometimes."},{"speaker":"Stanley Leong","startTime":643.12,"endTime":645.37,"body":"I just I'm so blessed to be"},{"speaker":"Stanley Leong","startTime":645.52,"endTime":649.21,"body":"where I am. I I look forward to"},{"speaker":"Stanley Leong","startTime":645.52,"endTime":649.21,"body":"going to work. I look forward to"},{"speaker":"Stanley Leong","startTime":649.3,"endTime":652.09,"body":"seeing my clients. It's"},{"speaker":"Stanley Leong","startTime":649.3,"endTime":652.09,"body":"emotionally gratifying. I get to"},{"speaker":"Stanley Leong","startTime":652.12,"endTime":654.34,"body":"help people reach their"},{"speaker":"Stanley Leong","startTime":652.12,"endTime":654.34,"body":"financial goals in retirement."},{"speaker":"Stanley Leong","startTime":655.15,"endTime":656.86,"body":"You know, I become a"},{"speaker":"Stanley Leong","startTime":655.15,"endTime":656.86,"body":"best-selling author now. I'm a"},{"speaker":"Stanley Leong","startTime":656.92,"endTime":660.03,"body":"go-to advisor for tech"},{"speaker":"Stanley Leong","startTime":656.92,"endTime":660.03,"body":"professionals. So it's just I"},{"speaker":"Stanley Leong","startTime":660.24,"endTime":664.23,"body":"can't believe I'm. I am where I"},{"speaker":"Stanley Leong","startTime":660.24,"endTime":664.23,"body":"am now. It's just wonderful. And"},{"speaker":"Stanley Leong","startTime":664.29,"endTime":666.15,"body":"so, in hindsight, you know,"},{"speaker":"Stanley Leong","startTime":664.29,"endTime":666.15,"body":"getting laid off was the best"},{"speaker":"Stanley Leong","startTime":666.15,"endTime":668.01,"body":"thing that could have happened"},{"speaker":"Stanley Leong","startTime":666.15,"endTime":668.01,"body":"to me. But of course, it didn't"},{"speaker":"Stanley Leong","startTime":668.01,"endTime":668.82,"body":"feel like it at the time."},{"speaker":"Aaron Moncur","startTime":669.96,"endTime":674.49,"body":"I intimately"},{"speaker":"Aaron Moncur","startTime":669.96,"endTime":674.49,"body":"understand that statement. I had"},{"speaker":"Aaron Moncur","startTime":674.52,"endTime":678.3,"body":"a very similar experience"},{"speaker":"Aaron Moncur","startTime":674.52,"endTime":678.3,"body":"getting well, a little bit. I"},{"speaker":"Aaron Moncur","startTime":678.36,"endTime":681.42,"body":"mean, I I had worked there for"},{"speaker":"Aaron Moncur","startTime":678.36,"endTime":681.42,"body":"more than two days. Yeah, that"},{"speaker":"Aaron Moncur","startTime":681.48,"endTime":685.19,"body":"was good. But yeah, after a few"},{"speaker":"Aaron Moncur","startTime":681.48,"endTime":685.19,"body":"years, I got I got laid off from"},{"speaker":"Aaron Moncur","startTime":685.28,"endTime":688.37,"body":"where my first engineering job,"},{"speaker":"Aaron Moncur","startTime":685.28,"endTime":688.37,"body":"and we had just bought a house,"},{"speaker":"Aaron Moncur","startTime":688.43,"endTime":691.79,"body":"and we had a mortgage, and we"},{"speaker":"Aaron Moncur","startTime":688.43,"endTime":691.79,"body":"got a new baby, right? So I"},{"speaker":"Aaron Moncur","startTime":691.97,"endTime":697.52,"body":"spiraled into to crisis mode."},{"speaker":"Aaron Moncur","startTime":691.97,"endTime":697.52,"body":"But just like you said, I went"},{"speaker":"Aaron Moncur","startTime":697.55,"endTime":700.3,"body":"through a few years of like this"},{"speaker":"Aaron Moncur","startTime":697.55,"endTime":700.3,"body":"is really hard starting a new"},{"speaker":"Aaron Moncur","startTime":700.42,"endTime":704.5,"body":"business, figuring out all that"},{"speaker":"Aaron Moncur","startTime":700.42,"endTime":704.5,"body":"stuff, and now, wow! I look"},{"speaker":"Aaron Moncur","startTime":704.59,"endTime":707.59,"body":"back, and what a great blessing"},{"speaker":"Aaron Moncur","startTime":704.59,"endTime":707.59,"body":"that was! One of the best things"},{"speaker":"Aaron Moncur","startTime":707.68,"endTime":712.57,"body":"that has ever happened to me."},{"speaker":"Aaron Moncur","startTime":707.68,"endTime":712.57,"body":"So, you probably don't use your"},{"speaker":"Aaron Moncur","startTime":713.41,"endTime":715.93,"body":"engineering skill set on a"},{"speaker":"Aaron Moncur","startTime":713.41,"endTime":715.93,"body":"day-to-day basis for"},{"speaker":"engineering, but I'm curious","startTime":716.14,"endTime":719.26,"body":"how has that engineering"},{"speaker":"engineering, but I'm curious","startTime":719.5,"endTime":726.27,"body":"background supported or or"},{"speaker":"engineering, but I'm curious","startTime":719.5,"endTime":726.27,"body":"informed the financial the"},{"speaker":"engineering, but I'm curious","startTime":726.45,"endTime":727.71,"body":"wealth management work that you"},{"speaker":"engineering, but I'm curious","startTime":726.45,"endTime":727.71,"body":"do."},{"speaker":"Stanley Leong","startTime":728.43,"endTime":732.03,"body":"Yeah, yeah, a"},{"speaker":"Stanley Leong","startTime":728.43,"endTime":732.03,"body":"couple ways. One, my certainly"},{"speaker":"Stanley Leong","startTime":732.06,"endTime":735.9,"body":"my approach to personal finance"},{"speaker":"Stanley Leong","startTime":732.06,"endTime":735.9,"body":"is very analytical and I guess"},{"speaker":"Stanley Leong","startTime":736.08,"endTime":740.19,"body":"engineering like. In in the"},{"speaker":"Stanley Leong","startTime":736.08,"endTime":740.19,"body":"book, for instance, I break up"},{"speaker":"Stanley Leong","startTime":741.21,"endTime":744.08,"body":"personal finance into seven key"},{"speaker":"Stanley Leong","startTime":741.21,"endTime":744.08,"body":"areas, and each chapter is"},{"speaker":"Stanley Leong","startTime":744.08,"endTime":748.16,"body":"essentially one of those areas."},{"speaker":"Stanley Leong","startTime":744.08,"endTime":748.16,"body":"And so I I kind of visualize it"},{"speaker":"Stanley Leong","startTime":748.22,"endTime":750.47,"body":"as like you're trying to fix a"},{"speaker":"Stanley Leong","startTime":748.22,"endTime":750.47,"body":"machine, so you have to take it"},{"speaker":"Stanley Leong","startTime":750.47,"endTime":752.78,"body":"apart, you have to look at each"},{"speaker":"Stanley Leong","startTime":750.47,"endTime":752.78,"body":"part, make sure each part's"},{"speaker":"Stanley Leong","startTime":752.87,"endTime":754.88,"body":"working correctly, fix"},{"speaker":"Stanley Leong","startTime":752.87,"endTime":754.88,"body":"everything up, and then you have"},{"speaker":"Stanley Leong","startTime":754.91,"endTime":757.34,"body":"to put it back together and make"},{"speaker":"Stanley Leong","startTime":754.91,"endTime":757.34,"body":"sure it's working. And so it's"},{"speaker":"Stanley Leong","startTime":757.37,"endTime":760.57,"body":"kind of a similar approach where"},{"speaker":"Stanley Leong","startTime":757.37,"endTime":760.57,"body":"I kind of break up finance into"},{"speaker":"Stanley Leong","startTime":760.63,"endTime":763.51,"body":"those seven key areas. We, you"},{"speaker":"Stanley Leong","startTime":760.63,"endTime":763.51,"body":"know, you want to address each"},{"speaker":"Stanley Leong","startTime":763.6,"endTime":767.44,"body":"of those areas, and then at the"},{"speaker":"Stanley Leong","startTime":763.6,"endTime":767.44,"body":"same time, you you want to"},{"speaker":"Stanley Leong","startTime":767.68,"endTime":769.24,"body":"understand that even though"},{"speaker":"Stanley Leong","startTime":767.68,"endTime":769.24,"body":"you're looking at them in"},{"speaker":"Stanley Leong","startTime":769.33,"endTime":772.24,"body":"isolation, they all do work"},{"speaker":"Stanley Leong","startTime":769.33,"endTime":772.24,"body":"together, sort of like years in"},{"speaker":"Stanley Leong","startTime":772.27,"endTime":775.18,"body":"a machine. And so, when you put"},{"speaker":"Stanley Leong","startTime":772.27,"endTime":775.18,"body":"it back together, you have to"},{"speaker":"Stanley Leong","startTime":775.18,"endTime":779.32,"body":"understand how one thing affects"},{"speaker":"Stanley Leong","startTime":775.18,"endTime":779.32,"body":"another. And so, yeah. So the I"},{"speaker":"Stanley Leong","startTime":779.38,"endTime":781.95,"body":"think the approach is very"},{"speaker":"Stanley Leong","startTime":779.38,"endTime":781.95,"body":"engineer like, and I think"},{"speaker":"Stanley Leong","startTime":781.95,"endTime":784.92,"body":"that's why I tend to attract"},{"speaker":"Stanley Leong","startTime":781.95,"endTime":784.92,"body":"more analytic engineer clients"},{"speaker":"Stanley Leong","startTime":784.95,"endTime":788.67,"body":"because they like that approach,"},{"speaker":"Stanley Leong","startTime":784.95,"endTime":788.67,"body":"just because they're used to it."},{"speaker":"Stanley Leong","startTime":788.7,"endTime":794.82,"body":"I would say the other big thing"},{"speaker":"Stanley Leong","startTime":788.7,"endTime":794.82,"body":"about my engineering background"},{"speaker":"Stanley Leong","startTime":794.82,"endTime":798.72,"body":"is it actually helps almost more"},{"speaker":"Stanley Leong","startTime":794.82,"endTime":798.72,"body":"so run my business through the"},{"speaker":"Stanley Leong","startTime":799.38,"endTime":802.73,"body":"processes I have in place and"},{"speaker":"Stanley Leong","startTime":799.38,"endTime":802.73,"body":"systems. I have a pretty lean"},{"speaker":"Stanley Leong","startTime":802.88,"endTime":806.27,"body":"practice, what we call in our"},{"speaker":"Stanley Leong","startTime":802.88,"endTime":806.27,"body":"industry. So I manage about 250"},{"speaker":"Stanley Leong","startTime":806.81,"endTime":810.65,"body":"million in in assets, and most"},{"speaker":"Stanley Leong","startTime":806.81,"endTime":810.65,"body":"firms, most practices that"},{"speaker":"Stanley Leong","startTime":810.74,"endTime":815.03,"body":"manage that amount usually have"},{"speaker":"Stanley Leong","startTime":810.74,"endTime":815.03,"body":"maybe four to seven employees. I"},{"speaker":"Stanley Leong","startTime":815.21,"endTime":818.78,"body":"only have two. I have another"},{"speaker":"Stanley Leong","startTime":815.21,"endTime":818.78,"body":"advisor and then a non-licensed"},{"speaker":"Stanley Leong","startTime":818.78,"endTime":822.7,"body":"staff, and and and we're working"},{"speaker":"Stanley Leong","startTime":818.78,"endTime":822.7,"body":"regular hours. We're not working"},{"speaker":"Stanley Leong","startTime":822.7,"endTime":825.28,"body":"nights and weekends or anything."},{"speaker":"Stanley Leong","startTime":822.7,"endTime":825.28,"body":"It's it's all it's all great. So"},{"speaker":"Stanley Leong","startTime":825.46,"endTime":828.28,"body":"my practice runs very"},{"speaker":"Stanley Leong","startTime":825.46,"endTime":828.28,"body":"efficiently, essentially, and"},{"speaker":"Stanley Leong","startTime":828.43,"endTime":832.48,"body":"it's very process and systems"},{"speaker":"Stanley Leong","startTime":828.43,"endTime":832.48,"body":"oriented, very consistent. And I"},{"speaker":"Stanley Leong","startTime":832.6,"endTime":835.06,"body":"think that basically comes from"},{"speaker":"Stanley Leong","startTime":832.6,"endTime":835.06,"body":"from my engineering background."},{"speaker":"Stanley Leong","startTime":835.09,"endTime":839.02,"body":"And my wife, who also was an"},{"speaker":"Stanley Leong","startTime":835.09,"endTime":839.02,"body":"engineer, she used to be a"},{"speaker":"Stanley Leong","startTime":839.08,"endTime":841.59,"body":"process engineer, and so I think"},{"speaker":"Stanley Leong","startTime":839.08,"endTime":841.59,"body":"that that probably has some"},{"speaker":"Stanley Leong","startTime":841.68,"endTime":842.49,"body":"influence on me as well."},{"speaker":"Aaron Moncur","startTime":843.54,"endTime":847.08,"body":"Yeah, absolutely."},{"speaker":"Aaron Moncur","startTime":843.54,"endTime":847.08,"body":"I think that engineers make some"},{"speaker":"Aaron Moncur","startTime":847.14,"endTime":850.89,"body":"of the best business owners"},{"speaker":"Aaron Moncur","startTime":847.14,"endTime":850.89,"body":"because we're very logical and"},{"speaker":"Aaron Moncur","startTime":850.92,"endTime":854.01,"body":"we're process oriented, and"},{"speaker":"Aaron Moncur","startTime":850.92,"endTime":854.01,"body":"those are very important things"},{"speaker":"Aaron Moncur","startTime":854.07,"endTime":857.31,"body":"when running a business. I know"},{"speaker":"Aaron Moncur","startTime":854.07,"endTime":857.31,"body":"it's it's been that that way for"},{"speaker":"Aaron Moncur","startTime":857.34,"endTime":861.71,"body":"me for sure. Yeah. So you you"},{"speaker":"Aaron Moncur","startTime":857.34,"endTime":861.71,"body":"talked about these seven areas"},{"speaker":"Aaron Moncur","startTime":861.8,"endTime":865.4,"body":"of focus in finance that you"},{"speaker":"Aaron Moncur","startTime":861.8,"endTime":865.4,"body":"wrote about in your book. What"},{"speaker":"Aaron Moncur","startTime":865.64,"endTime":867.11,"body":"are some of those areas?"},{"speaker":"Stanley Leong","startTime":867.83,"endTime":870.08,"body":"Yeah. So those"},{"speaker":"Stanley Leong","startTime":867.83,"endTime":870.08,"body":"areas are: the first is just"},{"speaker":"Stanley Leong","startTime":870.11,"endTime":873.65,"body":"evaluating your current"},{"speaker":"Stanley Leong","startTime":870.11,"endTime":873.65,"body":"financial position. The second"},{"speaker":"Stanley Leong","startTime":873.65,"endTime":877.46,"body":"is investment management. Third"},{"speaker":"Stanley Leong","startTime":873.65,"endTime":877.46,"body":"is protection planning. So"},{"speaker":"Stanley Leong","startTime":877.46,"endTime":879.74,"body":"that's looking at your insurance"},{"speaker":"Stanley Leong","startTime":877.46,"endTime":879.74,"body":"coverages, life insurance,"},{"speaker":"Stanley Leong","startTime":880.61,"endTime":883.18,"body":"disability, long-term care, home"},{"speaker":"Stanley Leong","startTime":880.61,"endTime":883.18,"body":"health, auto, umbrella, so"},{"speaker":"Stanley Leong","startTime":883.27,"endTime":887.62,"body":"forth. Fourth is workplace"},{"speaker":"Stanley Leong","startTime":883.27,"endTime":887.62,"body":"benefits, so evaluating how your"},{"speaker":"Stanley Leong","startTime":887.65,"endTime":893.02,"body":"work, how to use your workplace"},{"speaker":"Stanley Leong","startTime":887.65,"endTime":893.02,"body":"benefits efficiently. Fifth is"},{"speaker":"Stanley Leong","startTime":893.17,"endTime":895.87,"body":"tax planning. Sixth is"},{"speaker":"Stanley Leong","startTime":893.17,"endTime":895.87,"body":"retirement planning, and seventh"},{"speaker":"Stanley Leong","startTime":895.9,"endTime":898.78,"body":"is estate planning. And so those"},{"speaker":"Stanley Leong","startTime":895.9,"endTime":898.78,"body":"are the the seven key areas."},{"speaker":"Aaron Moncur","startTime":939.23,"endTime":941.99,"body":"Okay, so you work"},{"speaker":"Aaron Moncur","startTime":939.23,"endTime":941.99,"body":"a lot with engineers and"},{"speaker":"Aaron Moncur","startTime":942.05,"endTime":946.0999999999999,"body":"technical professionals. Are"},{"speaker":"Aaron Moncur","startTime":942.05,"endTime":946.0999999999999,"body":"there any mindsets that you've"},{"speaker":"Aaron Moncur","startTime":946.3399999999999,"endTime":950.5699999999999,"body":"observed in in engineers, these"},{"speaker":"Aaron Moncur","startTime":946.3399999999999,"endTime":950.5699999999999,"body":"technical people that that tend"},{"speaker":"Aaron Moncur","startTime":950.6300000000001,"endTime":953.75,"body":"to hold them back? Like, is"},{"speaker":"Aaron Moncur","startTime":950.6300000000001,"endTime":953.75,"body":"there any coaching that you you"},{"speaker":"Aaron Moncur","startTime":953.8399999999999,"endTime":956.6600000000001,"body":"find is necessary and and you do"},{"speaker":"Aaron Moncur","startTime":953.8399999999999,"endTime":956.6600000000001,"body":"for your clients?"},{"speaker":"Stanley Leong","startTime":957.23,"endTime":960.19,"body":"Yeah, absolutely."},{"speaker":"Stanley Leong","startTime":957.23,"endTime":960.19,"body":"So I'd say one on the positive"},{"speaker":"Stanley Leong","startTime":960.28,"endTime":963.6099999999999,"body":"side, engineers and tech"},{"speaker":"Stanley Leong","startTime":960.28,"endTime":963.6099999999999,"body":"professionals-they tend to be"},{"speaker":"Stanley Leong","startTime":963.79,"endTime":967.3599999999999,"body":"pretty good savers, especially"},{"speaker":"Stanley Leong","startTime":963.79,"endTime":967.3599999999999,"body":"high-income earners. I rarely"},{"speaker":"Stanley Leong","startTime":967.45,"endTime":970.96,"body":"come across a high-income tech"},{"speaker":"Stanley Leong","startTime":967.45,"endTime":970.96,"body":"professional that doesn't save a"},{"speaker":"Stanley Leong","startTime":970.99,"endTime":972.73,"body":"lot of money, which is great."},{"speaker":"Stanley Leong","startTime":970.99,"endTime":972.73,"body":"You know, from a financial"},{"speaker":"Stanley Leong","startTime":972.73,"endTime":974.47,"body":"planning standpoint, that's"},{"speaker":"Stanley Leong","startTime":972.73,"endTime":974.47,"body":"that's wonderful. We love seeing"},{"speaker":"Stanley Leong","startTime":974.5,"endTime":977.1400000000001,"body":"that, and that's not true in a"},{"speaker":"Stanley Leong","startTime":974.5,"endTime":977.1400000000001,"body":"lot of other industries. Right?"},{"speaker":"Stanley Leong","startTime":977.1700000000001,"endTime":979.8599999999999,"body":"I also have clients that are"},{"speaker":"Stanley Leong","startTime":977.1700000000001,"endTime":979.8599999999999,"body":"doctors, attorneys, business"},{"speaker":"Stanley Leong","startTime":979.98,"endTime":982.98,"body":"owners that are that make a ton"},{"speaker":"Stanley Leong","startTime":979.98,"endTime":982.98,"body":"of money, but they also spend a"},{"speaker":"Stanley Leong","startTime":983.01,"endTime":985.2,"body":"ton of money, and then"},{"speaker":"Stanley Leong","startTime":983.01,"endTime":985.2,"body":"constantly have to twist their"},{"speaker":"Stanley Leong","startTime":985.29,"endTime":987.54,"body":"arm just to get them to save a"},{"speaker":"Stanley Leong","startTime":985.29,"endTime":987.54,"body":"little more. But I rarely have"},{"speaker":"Stanley Leong","startTime":987.5999999999999,"endTime":990.27,"body":"that issue with engineers. So,"},{"speaker":"Stanley Leong","startTime":987.5999999999999,"endTime":990.27,"body":"so that that's a great great"},{"speaker":"Stanley Leong","startTime":990.3299999999999,"endTime":995.6700000000001,"body":"mindset to have. The one thing I"},{"speaker":"Stanley Leong","startTime":990.3299999999999,"endTime":995.6700000000001,"body":"do find generally with"},{"speaker":"Stanley Leong","startTime":995.76,"endTime":998.8800000000001,"body":"engineers, they do tend to be a"},{"speaker":"Stanley Leong","startTime":995.76,"endTime":998.8800000000001,"body":"little more aggressive with"},{"speaker":"Stanley Leong","startTime":998.9100000000001,"endTime":1001.1199999999999,"body":"their investments. Now,"},{"speaker":"Stanley Leong","startTime":998.9100000000001,"endTime":1001.1199999999999,"body":"sometimes that's intentional,"},{"speaker":"Stanley Leong","startTime":1001.1500000000001,"endTime":1005.1099999999999,"body":"but oftentimes it's not. A lot"},{"speaker":"Stanley Leong","startTime":1001.1500000000001,"endTime":1005.1099999999999,"body":"of times, tech professionals"},{"speaker":"Stanley Leong","startTime":1005.23,"endTime":1008.1099999999999,"body":"don't really understand how much"},{"speaker":"Stanley Leong","startTime":1005.23,"endTime":1008.1099999999999,"body":"risk is in their portfolio until"},{"speaker":"Stanley Leong","startTime":1008.1700000000001,"endTime":1011.3800000000001,"body":"I point it out to them, and"},{"speaker":"Stanley Leong","startTime":1008.1700000000001,"endTime":1011.3800000000001,"body":"oftentimes this takes the form"},{"speaker":"Stanley Leong","startTime":1011.47,"endTime":1016.0,"body":"of individual stock, employer"},{"speaker":"Stanley Leong","startTime":1011.47,"endTime":1016.0,"body":"stock, most of the time. So if"},{"speaker":"Stanley Leong","startTime":1016.0899999999999,"endTime":1019.1800000000001,"body":"it's a if it's a self employed"},{"speaker":"Stanley Leong","startTime":1016.0899999999999,"endTime":1019.1800000000001,"body":"person or a person that works at"},{"speaker":"Stanley Leong","startTime":1019.24,"endTime":1021.69,"body":"a at a at a startup type of"},{"speaker":"Stanley Leong","startTime":1019.24,"endTime":1021.69,"body":"thing, it's it's sort of the"},{"speaker":"Stanley Leong","startTime":1021.81,"endTime":1024.72,"body":"stock and the options that they"},{"speaker":"Stanley Leong","startTime":1021.81,"endTime":1024.72,"body":"have at startup. Or if it's an"},{"speaker":"Stanley Leong","startTime":1024.78,"endTime":1026.91,"body":"engineer that works at a big"},{"speaker":"Stanley Leong","startTime":1024.78,"endTime":1026.91,"body":"company like Google or Apple,"},{"speaker":"Stanley Leong","startTime":1027.84,"endTime":1029.91,"body":"then they have all these"},{"speaker":"Stanley Leong","startTime":1027.84,"endTime":1029.91,"body":"different ways they get paid"},{"speaker":"Stanley Leong","startTime":1029.97,"endTime":1033.09,"body":"through stock, restricted stock"},{"speaker":"Stanley Leong","startTime":1029.97,"endTime":1033.09,"body":"units, and and stock purchase"},{"speaker":"Stanley Leong","startTime":1033.15,"endTime":1036.96,"body":"plans, and and and they end up"},{"speaker":"Stanley Leong","startTime":1033.15,"endTime":1036.96,"body":"accumulating a bunch of stock"},{"speaker":"Stanley Leong","startTime":1037.02,"endTime":1040.31,"body":"and not realizing how risky that"},{"speaker":"Stanley Leong","startTime":1037.02,"endTime":1040.31,"body":"is, especially as they get close"},{"speaker":"Stanley Leong","startTime":1040.34,"endTime":1043.82,"body":"to retirement, and then the"},{"speaker":"Stanley Leong","startTime":1040.34,"endTime":1043.82,"body":"other, probably the big one,"},{"speaker":"Stanley Leong","startTime":1043.88,"endTime":1049.61,"body":"just sort of as a more general"},{"speaker":"Stanley Leong","startTime":1043.88,"endTime":1049.61,"body":"thing. Most when when I tell"},{"speaker":"Stanley Leong","startTime":1049.67,"endTime":1052.34,"body":"people I work with engineers,"},{"speaker":"Stanley Leong","startTime":1049.67,"endTime":1052.34,"body":"most people think that engineers"},{"speaker":"Stanley Leong","startTime":1052.4,"endTime":1055.1,"body":"and analytical folks, because"},{"speaker":"Stanley Leong","startTime":1052.4,"endTime":1055.1,"body":"they're so logical, they tend to"},{"speaker":"Stanley Leong","startTime":1055.13,"endTime":1057.41,"body":"make very logical decisions and"},{"speaker":"Stanley Leong","startTime":1055.13,"endTime":1057.41,"body":"they don't make emotional"},{"speaker":"Stanley Leong","startTime":1057.44,"endTime":1060.88,"body":"decisions. And I've actually"},{"speaker":"Stanley Leong","startTime":1057.44,"endTime":1060.88,"body":"found the opposite is true. The"},{"speaker":"Stanley Leong","startTime":1061.06,"endTime":1064.21,"body":"more analytic they are, the more"},{"speaker":"Stanley Leong","startTime":1061.06,"endTime":1064.21,"body":"emotional decisions they make."},{"speaker":"Stanley Leong","startTime":1065.4099999999999,"endTime":1069.01,"body":"True, so it's a"},{"speaker":"Stanley Leong","startTime":1065.4099999999999,"endTime":1069.01,"body":"counterintuitive, and the reason"},{"speaker":"Stanley Leong","startTime":1070.33,"endTime":1072.3999999999999,"body":"is one of the things we learned"},{"speaker":"Stanley Leong","startTime":1070.33,"endTime":1072.3999999999999,"body":"early on in Mike in the"},{"speaker":"Stanley Leong","startTime":1072.52,"endTime":1075.49,"body":"financial career is people"},{"speaker":"Stanley Leong","startTime":1072.52,"endTime":1075.49,"body":"generally make decisions with"},{"speaker":"Stanley Leong","startTime":1075.55,"endTime":1078.6699999999998,"body":"their emotions, and then they"},{"speaker":"Stanley Leong","startTime":1075.55,"endTime":1078.6699999999998,"body":"rationalize it with logic. And"},{"speaker":"Stanley Leong","startTime":1078.79,"endTime":1081.78,"body":"engineers are so good at"},{"speaker":"Stanley Leong","startTime":1078.79,"endTime":1081.78,"body":"rationalizing that they can"},{"speaker":"Stanley Leong","startTime":1081.84,"endTime":1084.12,"body":"convince themselves that they're"},{"speaker":"Stanley Leong","startTime":1081.84,"endTime":1084.12,"body":"really making the right"},{"speaker":"Stanley Leong","startTime":1084.1499999999999,"endTime":1086.4299999999998,"body":"decision, even though behind the"},{"speaker":"Stanley Leong","startTime":1084.1499999999999,"endTime":1086.4299999999998,"body":"scenes it's really an emotional"},{"speaker":"Stanley Leong","startTime":1086.76,"endTime":1091.4099999999999,"body":"one. And so I do spend a lot of"},{"speaker":"Stanley Leong","startTime":1086.76,"endTime":1091.4099999999999,"body":"time just trying to coach coach"},{"speaker":"Stanley Leong","startTime":1091.56,"endTime":1095.04,"body":"my engineer clients to try to"},{"speaker":"Stanley Leong","startTime":1091.56,"endTime":1095.04,"body":"get them off the emotional"},{"speaker":"Stanley Leong","startTime":1095.07,"endTime":1097.74,"body":"decisions and and really do"},{"speaker":"Stanley Leong","startTime":1095.07,"endTime":1097.74,"body":"what's rational, logical. So"},{"speaker":"Stanley Leong","startTime":1098.76,"endTime":1100.6399999999999,"body":"that that's that's a big one I"},{"speaker":"Stanley Leong","startTime":1098.76,"endTime":1100.6399999999999,"body":"had to deal with a lot."},{"speaker":"Aaron Moncur","startTime":1101.72,"endTime":1104.57,"body":"Well, hopefully,"},{"speaker":"Aaron Moncur","startTime":1101.72,"endTime":1104.57,"body":"people listening to this have"},{"speaker":"Aaron Moncur","startTime":1104.81,"endTime":1107.48,"body":"some kind of advisor that they"},{"speaker":"Aaron Moncur","startTime":1104.81,"endTime":1107.48,"body":"can work with, or maybe they"},{"speaker":"Aaron Moncur","startTime":1107.51,"endTime":1110.33,"body":"want to reach out to you and and"},{"speaker":"Aaron Moncur","startTime":1107.51,"endTime":1110.33,"body":"work with you. And by the way,"},{"speaker":"Aaron Moncur","startTime":1110.81,"endTime":1113.54,"body":"Stanley didn't pay any anything"},{"speaker":"Aaron Moncur","startTime":1110.81,"endTime":1113.54,"body":"to be on this. This is not a"},{"speaker":"Aaron Moncur","startTime":1113.6,"endTime":1116.1499999999999,"body":"sponsored episode. He's I just"},{"speaker":"Aaron Moncur","startTime":1113.6,"endTime":1116.1499999999999,"body":"thought it would be interesting"},{"speaker":"Aaron Moncur","startTime":1116.27,"endTime":1120.61,"body":"content, so I'm not being paid"},{"speaker":"Aaron Moncur","startTime":1116.27,"endTime":1120.61,"body":"to say this. But if they don't,"},{"speaker":"Aaron Moncur","startTime":1121.12,"endTime":1123.79,"body":"and and you you mentioned how a"},{"speaker":"Aaron Moncur","startTime":1121.12,"endTime":1123.79,"body":"lot of us engineers don't"},{"speaker":"Aaron Moncur","startTime":1123.94,"endTime":1126.6399999999999,"body":"realize that we are"},{"speaker":"Aaron Moncur","startTime":1123.94,"endTime":1126.6399999999999,"body":"rationalizing or or making"},{"speaker":"Aaron Moncur","startTime":1127.03,"endTime":1130.72,"body":"emotion based decisions, how can"},{"speaker":"Aaron Moncur","startTime":1127.03,"endTime":1130.72,"body":"we catch ourselves? How can you"},{"speaker":"Aaron Moncur","startTime":1130.72,"endTime":1133.51,"body":"know if if we're blind to it?"},{"speaker":"Aaron Moncur","startTime":1130.72,"endTime":1133.51,"body":"What are some ways that we can"},{"speaker":"Aaron Moncur","startTime":1134.8,"endTime":1139.47,"body":"maybe more more deeply evaluate"},{"speaker":"Aaron Moncur","startTime":1134.8,"endTime":1139.47,"body":"some of these choices and and"},{"speaker":"Aaron Moncur","startTime":1139.77,"endTime":1142.77,"body":"figure out. Oh yeah, I am making"},{"speaker":"Aaron Moncur","startTime":1139.77,"endTime":1142.77,"body":"an emotion based decision, not a"},{"speaker":"Aaron Moncur","startTime":1142.86,"endTime":1143.82,"body":"logic based decision."},{"speaker":"Stanley Leong","startTime":1144.45,"endTime":1147.1799999999998,"body":"Yeah, yeah, it it"},{"speaker":"Stanley Leong","startTime":1144.45,"endTime":1147.1799999999998,"body":"is tough. I say the first is"},{"speaker":"Stanley Leong","startTime":1147.24,"endTime":1150.3,"body":"just awareness, just"},{"speaker":"Stanley Leong","startTime":1147.24,"endTime":1150.3,"body":"understanding that we all have"},{"speaker":"Stanley Leong","startTime":1150.3899999999999,"endTime":1153.3,"body":"human biases, we all have"},{"speaker":"Stanley Leong","startTime":1150.3899999999999,"endTime":1153.3,"body":"emotions, and no matter how"},{"speaker":"Stanley Leong","startTime":1153.45,"endTime":1156.1799999999998,"body":"analytic you are, we all we all"},{"speaker":"Stanley Leong","startTime":1153.45,"endTime":1156.1799999999998,"body":"make emotional decisions. I do"},{"speaker":"Stanley Leong","startTime":1156.27,"endTime":1161.57,"body":"as well. I'm I'm human as well."},{"speaker":"Stanley Leong","startTime":1156.27,"endTime":1161.57,"body":"So just awareness is is I I"},{"speaker":"Stanley Leong","startTime":1161.75,"endTime":1166.94,"body":"think of a movie the usual"},{"speaker":"Stanley Leong","startTime":1161.75,"endTime":1166.94,"body":"suspects movie one of my"},{"speaker":"Stanley Leong","startTime":1167.03,"endTime":1170.4199999999998,"body":"favorites when I was younger I"},{"speaker":"Stanley Leong","startTime":1167.03,"endTime":1170.4199999999998,"body":"remember the the one quote he"},{"speaker":"Stanley Leong","startTime":1170.6,"endTime":1182.59,"body":"said now it's now it's now I'm"},{"speaker":"Stanley Leong","startTime":1170.6,"endTime":1182.59,"body":"losing it I'll. it'll come to"},{"speaker":"Stanley Leong","startTime":1182.62,"endTime":1185.8899999999999,"body":"me. The point is, you have to be"},{"speaker":"Stanley Leong","startTime":1182.62,"endTime":1185.8899999999999,"body":"aware. Oh, the that's I got it."},{"speaker":"Stanley Leong","startTime":1185.8899999999999,"endTime":1188.1399999999999,"body":"The greatest trick the devil"},{"speaker":"Stanley Leong","startTime":1185.8899999999999,"endTime":1188.1399999999999,"body":"ever played was to convince the"},{"speaker":"Stanley Leong","startTime":1188.26,"endTime":1190.96,"body":"world that he doesn't exist,"},{"speaker":"Stanley Leong","startTime":1188.26,"endTime":1190.96,"body":"right? So that that's that's"},{"speaker":"Stanley Leong","startTime":1191.29,"endTime":1194.3799999999999,"body":"that's emotions, right? If you"},{"speaker":"Stanley Leong","startTime":1191.29,"endTime":1194.3799999999999,"body":"don't, if you're convinced that"},{"speaker":"Stanley Leong","startTime":1194.5,"endTime":1196.75,"body":"you don't make emotional"},{"speaker":"Stanley Leong","startTime":1194.5,"endTime":1196.75,"body":"decisions, then you are the one"},{"speaker":"Stanley Leong","startTime":1196.75,"endTime":1199.23,"body":"that's most susceptible to"},{"speaker":"Stanley Leong","startTime":1196.75,"endTime":1199.23,"body":"making them. And so, first is"},{"speaker":"Stanley Leong","startTime":1199.29,"endTime":1202.02,"body":"just pure awareness, being aware"},{"speaker":"Stanley Leong","startTime":1199.29,"endTime":1202.02,"body":"that that you make those"},{"speaker":"Stanley Leong","startTime":1202.05,"endTime":1207.1799999999998,"body":"decisions. I go through a couple"},{"speaker":"Stanley Leong","startTime":1202.05,"endTime":1207.1799999999998,"body":"that I see the or rationale or"},{"speaker":"Stanley Leong","startTime":1207.24,"endTime":1211.32,"body":"biases that I see often with"},{"speaker":"Stanley Leong","startTime":1207.24,"endTime":1211.32,"body":"engineers. The first one, and"},{"speaker":"Stanley Leong","startTime":1211.32,"endTime":1213.8999999999999,"body":"this is not just engineers; is"},{"speaker":"Stanley Leong","startTime":1211.32,"endTime":1213.8999999999999,"body":"with everyone. A confirmation"},{"speaker":"Stanley Leong","startTime":1213.96,"endTime":1217.9199999999998,"body":"bias is probably the most common"},{"speaker":"Stanley Leong","startTime":1213.96,"endTime":1217.9199999999998,"body":"one that I see. If only it might"},{"speaker":"Stanley Leong","startTime":1217.95,"endTime":1221.1799999999998,"body":"just be the most noticeable. And"},{"speaker":"Stanley Leong","startTime":1217.95,"endTime":1221.1799999999998,"body":"confirmation bias is simply, you"},{"speaker":"Stanley Leong","startTime":1221.1799999999998,"endTime":1224.8999999999999,"body":"know, you you have a belief, and"},{"speaker":"Stanley Leong","startTime":1221.1799999999998,"endTime":1224.8999999999999,"body":"when you see something that"},{"speaker":"Stanley Leong","startTime":1224.9299999999998,"endTime":1227.6599999999999,"body":"supports your belief, you know,"},{"speaker":"Stanley Leong","startTime":1224.9299999999998,"endTime":1227.6599999999999,"body":"you remember it, and you see,"},{"speaker":"Stanley Leong","startTime":1227.81,"endTime":1230.1499999999999,"body":"see, I was right. When you see"},{"speaker":"Stanley Leong","startTime":1227.81,"endTime":1230.1499999999999,"body":"something that doesn't support"},{"speaker":"Stanley Leong","startTime":1230.1799999999998,"endTime":1233.6,"body":"your belief, you tend to ignore"},{"speaker":"Stanley Leong","startTime":1230.1799999999998,"endTime":1233.6,"body":"it or forget about it. And so"},{"speaker":"Stanley Leong","startTime":1233.72,"endTime":1238.22,"body":"that that one is is we all have"},{"speaker":"Stanley Leong","startTime":1233.72,"endTime":1238.22,"body":"that. And but if you're aware"},{"speaker":"Stanley Leong","startTime":1238.34,"endTime":1242.62,"body":"you have that. You can be a"},{"speaker":"Stanley Leong","startTime":1238.34,"endTime":1242.62,"body":"little more cognizant of it, and"},{"speaker":"Stanley Leong","startTime":1242.74,"endTime":1246.19,"body":"and the way the way I personally"},{"speaker":"Stanley Leong","startTime":1242.74,"endTime":1246.19,"body":"like to fight that is I'm always"},{"speaker":"Stanley Leong","startTime":1246.37,"endTime":1248.6499999999999,"body":"looking for things that go"},{"speaker":"Stanley Leong","startTime":1246.37,"endTime":1248.6499999999999,"body":"against what I believe. If"},{"speaker":"Stanley Leong","startTime":1248.71,"endTime":1251.74,"body":"you're constantly searching for"},{"speaker":"Stanley Leong","startTime":1248.71,"endTime":1251.74,"body":"the opposite thing, then that"},{"speaker":"Stanley Leong","startTime":1251.77,"endTime":1255.6699999999998,"body":"helps offset that confirmation"},{"speaker":"Stanley Leong","startTime":1251.77,"endTime":1255.6699999999998,"body":"bias. The another one that I"},{"speaker":"Stanley Leong","startTime":1255.79,"endTime":1259.29,"body":"often see is they call the"},{"speaker":"Stanley Leong","startTime":1255.79,"endTime":1259.29,"body":"disposition effect, and this is"},{"speaker":"Stanley Leong","startTime":1259.29,"endTime":1264.27,"body":"essentially just the the the"},{"speaker":"Stanley Leong","startTime":1259.29,"endTime":1264.27,"body":"tendency to want to hold on to"},{"speaker":"Stanley Leong","startTime":1264.36,"endTime":1267.0,"body":"things that have gone down, and"},{"speaker":"Stanley Leong","startTime":1264.36,"endTime":1267.0,"body":"we'd rather sell things that"},{"speaker":"Stanley Leong","startTime":1267.0,"endTime":1270.27,"body":"have gone up. And so, great"},{"speaker":"Stanley Leong","startTime":1267.0,"endTime":1270.27,"body":"example is if if you and I had a"},{"speaker":"Stanley Leong","startTime":1270.33,"endTime":1272.37,"body":"house, the exact same house, we"},{"speaker":"Stanley Leong","startTime":1270.33,"endTime":1272.37,"body":"live right next to each other."},{"speaker":"Stanley Leong","startTime":1272.4299999999998,"endTime":1275.58,"body":"It's exact same house, same"},{"speaker":"Stanley Leong","startTime":1272.4299999999998,"endTime":1275.58,"body":"color, everything. And someone"},{"speaker":"Stanley Leong","startTime":1275.6399999999999,"endTime":1278.28,"body":"comes by and says they'll pay a"},{"speaker":"Stanley Leong","startTime":1275.6399999999999,"endTime":1278.28,"body":"million dollars for this house"},{"speaker":"Stanley Leong","startTime":1278.46,"endTime":1281.27,"body":"for either one of our houses."},{"speaker":"Stanley Leong","startTime":1278.46,"endTime":1281.27,"body":"Now, let's say I bought it years"},{"speaker":"Stanley Leong","startTime":1281.33,"endTime":1285.8899999999999,"body":"ago for 500,000 You bought it"},{"speaker":"Stanley Leong","startTime":1281.33,"endTime":1285.8899999999999,"body":"recently for 1.1 million. And"},{"speaker":"Stanley Leong","startTime":1285.98,"endTime":1289.55,"body":"so, if I sell it, I make 500,000"},{"speaker":"Stanley Leong","startTime":1285.98,"endTime":1289.55,"body":"If you sell it, you lose 100,000"},{"speaker":"Stanley Leong","startTime":1290.33,"endTime":1293.09,"body":"Right. So, which one of us is"},{"speaker":"Stanley Leong","startTime":1290.33,"endTime":1293.09,"body":"more likely to sell? I am"},{"speaker":"Stanley Leong","startTime":1293.1799999999998,"endTime":1295.4299999999998,"body":"because you know I made money on"},{"speaker":"Stanley Leong","startTime":1293.1799999999998,"endTime":1295.4299999999998,"body":"it. You you kind of don't want"},{"speaker":"Stanley Leong","startTime":1295.4299999999998,"endTime":1298.49,"body":"to because because you're going"},{"speaker":"Stanley Leong","startTime":1295.4299999999998,"endTime":1298.49,"body":"to lose money. But in in"},{"speaker":"Stanley Leong","startTime":1298.58,"endTime":1301.12,"body":"reality, from a rational"},{"speaker":"Stanley Leong","startTime":1298.58,"endTime":1301.12,"body":"standpoint, it shouldn't matter"},{"speaker":"Stanley Leong","startTime":1301.24,"endTime":1303.79,"body":"what you bought it at, right?"},{"speaker":"Stanley Leong","startTime":1301.24,"endTime":1303.79,"body":"The fact of the matter is, right"},{"speaker":"Stanley Leong","startTime":1303.82,"endTime":1306.1299999999999,"body":"now it's worth a million. That's"},{"speaker":"Stanley Leong","startTime":1303.82,"endTime":1306.1299999999999,"body":"what it's worth. That's what the"},{"speaker":"Stanley Leong","startTime":1306.19,"endTime":1310.57,"body":"person's willing to pay. It"},{"speaker":"Stanley Leong","startTime":1306.19,"endTime":1310.57,"body":"doesn't matter who, what price"},{"speaker":"Stanley Leong","startTime":1310.6599999999999,"endTime":1312.7,"body":"you bought it at, when you"},{"speaker":"Stanley Leong","startTime":1310.6599999999999,"endTime":1312.7,"body":"bought it, or so forth. That's"},{"speaker":"Stanley Leong","startTime":1312.76,"endTime":1315.97,"body":"just what it's worth now. And"},{"speaker":"Stanley Leong","startTime":1312.76,"endTime":1315.97,"body":"so, and of course, this comes"},{"speaker":"Stanley Leong","startTime":1316.03,"endTime":1318.07,"body":"into play with stocks. You know,"},{"speaker":"Stanley Leong","startTime":1316.03,"endTime":1318.07,"body":"people don't want to sell their"},{"speaker":"Stanley Leong","startTime":1318.1299999999999,"endTime":1321.09,"body":"stocks when it's down. I like to"},{"speaker":"Stanley Leong","startTime":1318.1299999999999,"endTime":1321.09,"body":"tell people the stock doesn't"},{"speaker":"Stanley Leong","startTime":1321.24,"endTime":1324.75,"body":"care what you bought it at. It's"},{"speaker":"Stanley Leong","startTime":1321.24,"endTime":1324.75,"body":"not going to go up or down in"},{"speaker":"Stanley Leong","startTime":1324.75,"endTime":1327.51,"body":"the future simply because you"},{"speaker":"Stanley Leong","startTime":1324.75,"endTime":1327.51,"body":"decided to buy it at a at some"},{"speaker":"Stanley Leong","startTime":1327.57,"endTime":1330.78,"body":"point in the past. And so, what"},{"speaker":"Stanley Leong","startTime":1327.57,"endTime":1330.78,"body":"matters is what you think will"},{"speaker":"Stanley Leong","startTime":1330.81,"endTime":1334.05,"body":"happen moving forward with that"},{"speaker":"Stanley Leong","startTime":1330.81,"endTime":1334.05,"body":"stock. But what you bought it at"},{"speaker":"Stanley Leong","startTime":1334.1399999999999,"endTime":1336.6,"body":"should have no consideration as"},{"speaker":"Stanley Leong","startTime":1334.1399999999999,"endTime":1336.6,"body":"to whether you buy or sell it."},{"speaker":"Stanley Leong","startTime":1336.6299999999999,"endTime":1340.4299999999998,"body":"So that's that's the disposition"},{"speaker":"Stanley Leong","startTime":1336.6299999999999,"endTime":1340.4299999999998,"body":"effect, and that often causes"},{"speaker":"Stanley Leong","startTime":1340.49,"endTime":1344.48,"body":"people to not let go of bad"},{"speaker":"Stanley Leong","startTime":1340.49,"endTime":1344.48,"body":"investments as they're going"},{"speaker":"Stanley Leong","startTime":1344.51,"endTime":1346.4299999999998,"body":"down because they don't want to"},{"speaker":"Stanley Leong","startTime":1344.51,"endTime":1346.4299999999998,"body":"sell it when it's at a loss."},{"speaker":"Stanley Leong","startTime":1347.33,"endTime":1348.56,"body":"Yeah, yeah. Is that"},{"speaker":"Aaron Moncur","startTime":1348.6499999999999,"endTime":1352.94,"body":"related to the the"},{"speaker":"Aaron Moncur","startTime":1348.6499999999999,"endTime":1352.94,"body":"sunken cost fallacy? Yes. Where"},{"speaker":"Aaron Moncur","startTime":1352.94,"endTime":1354.2,"body":"you put this money into"},{"speaker":"Stanley Leong","startTime":1354.5,"endTime":1356.3899999999999,"body":"the? It's it's"},{"speaker":"Stanley Leong","startTime":1354.5,"endTime":1356.3899999999999,"body":"probably yeah. I'm sure there's"},{"speaker":"Stanley Leong","startTime":1356.45,"endTime":1358.85,"body":"correlation or there's I'm sure"},{"speaker":"Stanley Leong","startTime":1356.45,"endTime":1358.85,"body":"there's overlap. There a lot of"},{"speaker":"Stanley Leong","startTime":1358.85,"endTime":1361.06,"body":"these biases kind of have"},{"speaker":"Stanley Leong","startTime":1358.85,"endTime":1361.06,"body":"overlap with other things, so"},{"speaker":"Stanley Leong","startTime":1361.1499999999999,"endTime":1364.24,"body":"yeah, sunken sunk in cost"},{"speaker":"Stanley Leong","startTime":1361.1499999999999,"endTime":1364.24,"body":"fallacies. It sounds sounds"},{"speaker":"Stanley Leong","startTime":1364.24,"endTime":1366.1,"body":"pretty much the same. It's the"},{"speaker":"Stanley Leong","startTime":1364.24,"endTime":1366.1,"body":"same idea. Yep."},{"speaker":"Aaron Moncur","startTime":1366.79,"endTime":1367.6599999999999,"body":"Okay. Yeah. Yeah."},{"speaker":"Stanley Leong","startTime":1367.84,"endTime":1369.76,"body":"Yeah. Just kind"},{"speaker":"Stanley Leong","startTime":1367.84,"endTime":1369.76,"body":"of chasing bad money with"},{"speaker":"Stanley Leong","startTime":1370.33,"endTime":1373.36,"body":"chasing good money with bad or"},{"speaker":"Stanley Leong","startTime":1370.33,"endTime":1373.36,"body":"whatever they say. And then"},{"speaker":"Stanley Leong","startTime":1373.4199999999998,"endTime":1377.23,"body":"another one is the third one. I"},{"speaker":"Stanley Leong","startTime":1373.4199999999998,"endTime":1377.23,"body":"think is regret aversion. I do"},{"speaker":"Stanley Leong","startTime":1377.35,"endTime":1382.29,"body":"face this a lot, and this is"},{"speaker":"Stanley Leong","startTime":1377.35,"endTime":1382.29,"body":"just the the. the the the fact"},{"speaker":"Stanley Leong","startTime":1382.29,"endTime":1386.82,"body":"that making a decision and then"},{"speaker":"Stanley Leong","startTime":1382.29,"endTime":1386.82,"body":"having that be a mistake is more"},{"speaker":"Stanley Leong","startTime":1386.9099999999999,"endTime":1390.09,"body":"painful than not not making a"},{"speaker":"Stanley Leong","startTime":1386.9099999999999,"endTime":1390.09,"body":"decision and having that be a"},{"speaker":"Stanley Leong","startTime":1390.12,"endTime":1393.45,"body":"mistake. And so, kind of same"},{"speaker":"Stanley Leong","startTime":1390.12,"endTime":1393.45,"body":"idea. We would rather hold on."},{"speaker":"Stanley Leong","startTime":1393.69,"endTime":1396.87,"body":"You know, if if we have a stock"},{"speaker":"Stanley Leong","startTime":1393.69,"endTime":1396.87,"body":"that we know we should sell, and"},{"speaker":"Stanley Leong","startTime":1396.87,"endTime":1399.62,"body":"I see that a lot of my clients"},{"speaker":"Stanley Leong","startTime":1396.87,"endTime":1399.62,"body":"will be, I know I should sell"},{"speaker":"Stanley Leong","startTime":1399.71,"endTime":1402.11,"body":"the stock, but I just can't get"},{"speaker":"Stanley Leong","startTime":1399.71,"endTime":1402.11,"body":"myself to do it because they"},{"speaker":"Stanley Leong","startTime":1402.26,"endTime":1404.21,"body":"know as soon as they sell the"},{"speaker":"Stanley Leong","startTime":1402.26,"endTime":1404.21,"body":"stock, the price is going to go"},{"speaker":"Stanley Leong","startTime":1404.33,"endTime":1405.5,"body":"up, right? And and"},{"speaker":"Aaron Moncur","startTime":1406.52,"endTime":1407.27,"body":"right, but they"},{"speaker":"Stanley Leong","startTime":1407.45,"endTime":1409.7,"body":"so they would"},{"speaker":"Stanley Leong","startTime":1407.45,"endTime":1409.7,"body":"rather not sell the stock, even"},{"speaker":"Stanley Leong","startTime":1409.7,"endTime":1412.01,"body":"if the stock, if they hold onto"},{"speaker":"Stanley Leong","startTime":1409.7,"endTime":1412.01,"body":"the stock and it goes down,"},{"speaker":"Stanley Leong","startTime":1412.37,"endTime":1415.07,"body":"that's less painful than selling"},{"speaker":"Stanley Leong","startTime":1412.37,"endTime":1415.07,"body":"the stock, making an actual"},{"speaker":"Stanley Leong","startTime":1415.1,"endTime":1418.1599999999999,"body":"decision, and then having that"},{"speaker":"Stanley Leong","startTime":1415.1,"endTime":1418.1599999999999,"body":"be wrong. And so that that's"},{"speaker":"Stanley Leong","startTime":1418.22,"endTime":1421.6299999999999,"body":"regret aversion, and so that"},{"speaker":"Stanley Leong","startTime":1418.22,"endTime":1421.6299999999999,"body":"that's one I see often too."},{"speaker":"Stanley Leong","startTime":1421.72,"endTime":1424.81,"body":"People tend to not make"},{"speaker":"Stanley Leong","startTime":1421.72,"endTime":1424.81,"body":"decisions because they're afraid"},{"speaker":"Stanley Leong","startTime":1424.84,"endTime":1425.77,"body":"that something bad will happen."},{"speaker":"Aaron Moncur","startTime":1426.46,"endTime":1429.85,"body":"Interesting. Okay."},{"speaker":"Aaron Moncur","startTime":1426.46,"endTime":1429.85,"body":"A few minutes ago, you had"},{"speaker":"Aaron Moncur","startTime":1429.9099999999999,"endTime":1434.53,"body":"talked about stock options in"},{"speaker":"Aaron Moncur","startTime":1429.9099999999999,"endTime":1434.53,"body":"companies, RSUs, right? Yeah."},{"speaker":"Aaron Moncur","startTime":1434.6499999999999,"endTime":1437.11,"body":"Restrictive stock options. Can"},{"speaker":"Aaron Moncur","startTime":1434.6499999999999,"endTime":1437.11,"body":"you talk a little bit about"},{"speaker":"Aaron Moncur","startTime":1437.2,"endTime":1442.4099999999999,"body":"that? Because I bet a lot of"},{"speaker":"Aaron Moncur","startTime":1437.2,"endTime":1442.4099999999999,"body":"tech professionals deal with"},{"speaker":"Aaron Moncur","startTime":1442.5,"endTime":1446.55,"body":"that, and what are some of the I"},{"speaker":"Aaron Moncur","startTime":1442.5,"endTime":1446.55,"body":"don't know maybe blind spots"},{"speaker":"Aaron Moncur","startTime":1446.79,"endTime":1452.52,"body":"that that engineers don't see"},{"speaker":"Aaron Moncur","startTime":1446.79,"endTime":1452.52,"body":"when negotiating stocks? If"},{"speaker":"Aaron Moncur","startTime":1452.58,"endTime":1454.6499999999999,"body":"there are any best practices"},{"speaker":"Aaron Moncur","startTime":1452.58,"endTime":1454.6499999999999,"body":"that you have, both for"},{"speaker":"Aaron Moncur","startTime":1454.98,"endTime":1458.6699999999998,"body":"negotiating them as well as for"},{"speaker":"Aaron Moncur","startTime":1454.98,"endTime":1458.6699999999998,"body":"executing them, we'd love to"},{"speaker":"Aaron Moncur","startTime":1458.7,"endTime":1459.1799999999998,"body":"hear about that."},{"speaker":"Stanley Leong","startTime":1459.99,"endTime":1462.11,"body":"Yeah, yeah. So"},{"speaker":"Stanley Leong","startTime":1459.99,"endTime":1462.11,"body":"restricted stock is probably the"},{"speaker":"Stanley Leong","startTime":1462.2,"endTime":1464.1499999999999,"body":"most common way people are"},{"speaker":"Stanley Leong","startTime":1462.2,"endTime":1464.1499999999999,"body":"getting paid these days,"},{"speaker":"Stanley Leong","startTime":1464.21,"endTime":1468.1699999999998,"body":"especially at the big tech"},{"speaker":"Stanley Leong","startTime":1464.21,"endTime":1468.1699999999998,"body":"companies. And and for those"},{"speaker":"Stanley Leong","startTime":1468.23,"endTime":1471.8899999999999,"body":"that might not know, restricted"},{"speaker":"Stanley Leong","startTime":1468.23,"endTime":1471.8899999999999,"body":"stock is essentially it's it's"},{"speaker":"Stanley Leong","startTime":1471.95,"endTime":1476.3899999999999,"body":"like a bonus that's paid in"},{"speaker":"Stanley Leong","startTime":1471.95,"endTime":1476.3899999999999,"body":"stock instead of cash. And then"},{"speaker":"Stanley Leong","startTime":1476.45,"endTime":1479.71,"body":"usually it's it's a you you get"},{"speaker":"Stanley Leong","startTime":1476.45,"endTime":1479.71,"body":"you get it granted to you, and"},{"speaker":"Stanley Leong","startTime":1479.77,"endTime":1483.1299999999999,"body":"then it vests over the next four"},{"speaker":"Stanley Leong","startTime":1479.77,"endTime":1483.1299999999999,"body":"years or something like that. I"},{"speaker":"Stanley Leong","startTime":1483.22,"endTime":1486.34,"body":"mean, or a fourth of it each"},{"speaker":"Stanley Leong","startTime":1483.22,"endTime":1486.34,"body":"year is when it vests, and so"},{"speaker":"Stanley Leong","startTime":1487.6599999999999,"endTime":1490.75,"body":"it's a very common way now to"},{"speaker":"Stanley Leong","startTime":1487.6599999999999,"endTime":1490.75,"body":"get paid. A lot of these big big"},{"speaker":"Stanley Leong","startTime":1490.84,"endTime":1493.8999999999999,"body":"tech companies, especially, are"},{"speaker":"Stanley Leong","startTime":1490.84,"endTime":1493.8999999999999,"body":"are paying now are starting to"},{"speaker":"Stanley Leong","startTime":1493.8999999999999,"endTime":1497.8,"body":"pay lower salaries, but then"},{"speaker":"Stanley Leong","startTime":1493.8999999999999,"endTime":1497.8,"body":"giving more restricted stock as"},{"speaker":"Stanley Leong","startTime":1498.31,"endTime":1501.3899999999999,"body":"as as bonuses and as a way to"},{"speaker":"Stanley Leong","startTime":1498.31,"endTime":1501.3899999999999,"body":"give them raises, so to speak,"},{"speaker":"Stanley Leong","startTime":1501.8999999999999,"endTime":1506.01,"body":"and so yeah, and so and they're"},{"speaker":"Stanley Leong","startTime":1501.8999999999999,"endTime":1506.01,"body":"great. I mean, bonus is a bonus,"},{"speaker":"Stanley Leong","startTime":1506.07,"endTime":1510.1799999999998,"body":"whether it's stock or cash, and"},{"speaker":"Stanley Leong","startTime":1506.07,"endTime":1510.1799999999998,"body":"so they're great. I think the"},{"speaker":"Stanley Leong","startTime":1510.1799999999998,"endTime":1514.11,"body":"the issue that a lot of folks"},{"speaker":"Stanley Leong","startTime":1510.1799999999998,"endTime":1514.11,"body":"run into is again, they tend to"},{"speaker":"Stanley Leong","startTime":1514.1699999999998,"endTime":1518.46,"body":"have a lot of stock in their own"},{"speaker":"Stanley Leong","startTime":1514.1699999999998,"endTime":1518.46,"body":"in their own company, and they"},{"speaker":"Stanley Leong","startTime":1518.49,"endTime":1520.3999999999999,"body":"don't do it on purpose. It just"},{"speaker":"Stanley Leong","startTime":1518.49,"endTime":1520.3999999999999,"body":"kind of sneaks up on them,"},{"speaker":"Stanley Leong","startTime":1520.3999999999999,"endTime":1523.37,"body":"right? You you start at a"},{"speaker":"Stanley Leong","startTime":1520.3999999999999,"endTime":1523.37,"body":"company and they give you"},{"speaker":"Stanley Leong","startTime":1523.52,"endTime":1525.6499999999999,"body":"restricted stock, which is"},{"speaker":"Stanley Leong","startTime":1523.52,"endTime":1525.6499999999999,"body":"great, and they have a stock"},{"speaker":"Stanley Leong","startTime":1525.74,"endTime":1528.6499999999999,"body":"purchase plan oftentimes where"},{"speaker":"Stanley Leong","startTime":1525.74,"endTime":1528.6499999999999,"body":"you can you can buy stock at a"},{"speaker":"Stanley Leong","startTime":1528.6799999999998,"endTime":1530.75,"body":"discounted rate, and that's"},{"speaker":"Stanley Leong","startTime":1528.6799999999998,"endTime":1530.75,"body":"great to do as well. And so you"},{"speaker":"Stanley Leong","startTime":1530.78,"endTime":1534.9199999999998,"body":"do that, and and and so you"},{"speaker":"Stanley Leong","startTime":1530.78,"endTime":1534.9199999999998,"body":"start out, everything's great,"},{"speaker":"Stanley Leong","startTime":1534.95,"endTime":1539.1399999999999,"body":"but then you're working for 510,"},{"speaker":"Stanley Leong","startTime":1534.95,"endTime":1539.1399999999999,"body":"1520, years at this company. And"},{"speaker":"Stanley Leong","startTime":1539.1399999999999,"endTime":1541.36,"body":"if the company's done well, it's"},{"speaker":"Stanley Leong","startTime":1539.1399999999999,"endTime":1541.36,"body":"you know in technology, it's"},{"speaker":"Stanley Leong","startTime":1541.3899999999999,"endTime":1544.1799999999998,"body":"probably skyrocketed, and and"},{"speaker":"Stanley Leong","startTime":1541.3899999999999,"endTime":1544.1799999999998,"body":"now all of a sudden, you know,"},{"speaker":"Stanley Leong","startTime":1544.6299999999999,"endTime":1548.3799999999999,"body":"half of your net worth or more"},{"speaker":"Stanley Leong","startTime":1544.6299999999999,"endTime":1548.3799999999999,"body":"is in this company stock, and"},{"speaker":"Stanley Leong","startTime":1548.4099999999999,"endTime":1552.07,"body":"you're about to retire, and that"},{"speaker":"Stanley Leong","startTime":1548.4099999999999,"endTime":1552.07,"body":"and that's that's way too much"},{"speaker":"Stanley Leong","startTime":1552.1599999999999,"endTime":1555.9099999999999,"body":"risk to have when you're about"},{"speaker":"Stanley Leong","startTime":1552.1599999999999,"endTime":1555.9099999999999,"body":"to retire, and so it sneaks up"},{"speaker":"Stanley Leong","startTime":1556.0,"endTime":1559.35,"body":"on you. Now the problem I think"},{"speaker":"Stanley Leong","startTime":1556.0,"endTime":1559.35,"body":"most people have is once they're"},{"speaker":"Stanley Leong","startTime":1559.4099999999999,"endTime":1562.3799999999999,"body":"at that point, what do you do,"},{"speaker":"Stanley Leong","startTime":1559.4099999999999,"endTime":1562.3799999999999,"body":"right? People don't want to sell"},{"speaker":"Stanley Leong","startTime":1562.44,"endTime":1564.87,"body":"it at that point. If you sell"},{"speaker":"Stanley Leong","startTime":1562.44,"endTime":1564.87,"body":"sell it and and it's really"},{"speaker":"Stanley Leong","startTime":1564.96,"endTime":1567.03,"body":"high, well, now you have to pay"},{"speaker":"Stanley Leong","startTime":1564.96,"endTime":1567.03,"body":"all this capital gains tax,"},{"speaker":"Stanley Leong","startTime":1567.09,"endTime":1571.32,"body":"right? No one wants to pay the"},{"speaker":"Stanley Leong","startTime":1567.09,"endTime":1571.32,"body":"capital gains tax. But if you if"},{"speaker":"Stanley Leong","startTime":1571.5,"endTime":1574.11,"body":"it's down, then again the same"},{"speaker":"Stanley Leong","startTime":1571.5,"endTime":1574.11,"body":"disposition effect. If it's"},{"speaker":"Stanley Leong","startTime":1574.1399999999999,"endTime":1575.97,"body":"down, no one wants to sell it"},{"speaker":"Stanley Leong","startTime":1574.1399999999999,"endTime":1575.97,"body":"because it's down and it's going"},{"speaker":"Stanley Leong","startTime":1575.97,"endTime":1579.1499999999999,"body":"to come back up. And so so"},{"speaker":"Stanley Leong","startTime":1575.97,"endTime":1579.1499999999999,"body":"there's never a good time"},{"speaker":"Stanley Leong","startTime":1579.51,"endTime":1582.6499999999999,"body":"emotionally to sell it, and so"},{"speaker":"Stanley Leong","startTime":1579.51,"endTime":1582.6499999999999,"body":"then they just hold on to it"},{"speaker":"Stanley Leong","startTime":1582.6499999999999,"endTime":1584.84,"body":"again, kind of status quo."},{"speaker":"Stanley Leong","startTime":1582.6499999999999,"endTime":1584.84,"body":"Again, that that regret"},{"speaker":"Stanley Leong","startTime":1584.87,"endTime":1588.23,"body":"aversion, and and then of course"},{"speaker":"Stanley Leong","startTime":1584.87,"endTime":1588.23,"body":"at one at some point the"},{"speaker":"Stanley Leong","startTime":1588.29,"endTime":1590.75,"body":"market's going to crash, and and"},{"speaker":"Stanley Leong","startTime":1588.29,"endTime":1590.75,"body":"it hurts them. I've I've I've"},{"speaker":"Stanley Leong","startTime":1591.3799999999999,"endTime":1595.37,"body":"had unfortunately several seen"},{"speaker":"Stanley Leong","startTime":1591.3799999999999,"endTime":1595.37,"body":"seen it firsthand several times."},{"speaker":"Stanley Leong","startTime":1595.4299999999998,"endTime":1598.04,"body":"Someone just refusing to sell"},{"speaker":"Stanley Leong","startTime":1595.4299999999998,"endTime":1598.04,"body":"the stock even though they know"},{"speaker":"Stanley Leong","startTime":1598.1599999999999,"endTime":1601.9299999999998,"body":"they should. They want to retire"},{"speaker":"Stanley Leong","startTime":1598.1599999999999,"endTime":1601.9299999999998,"body":"soon. The market crash, like"},{"speaker":"Stanley Leong","startTime":1601.96,"endTime":1605.6799999999998,"body":"2008 happens, and then and then"},{"speaker":"Stanley Leong","startTime":1601.96,"endTime":1605.6799999999998,"body":"you know I had a client that had"},{"speaker":"Stanley Leong","startTime":1605.71,"endTime":1609.31,"body":"to put off retirement for 10"},{"speaker":"Stanley Leong","startTime":1605.71,"endTime":1609.31,"body":"years because basically because"},{"speaker":"Stanley Leong","startTime":1609.49,"endTime":1613.12,"body":"they that kept telling them"},{"speaker":"Stanley Leong","startTime":1609.49,"endTime":1613.12,"body":"telling them that they have to"},{"speaker":"Stanley Leong","startTime":1613.1799999999998,"endTime":1617.05,"body":"sell their stock, and they they"},{"speaker":"Stanley Leong","startTime":1613.1799999999998,"endTime":1617.05,"body":"had a real emotional tie to it,"},{"speaker":"Stanley Leong","startTime":1617.3799999999999,"endTime":1620.9099999999999,"body":"and they they even admitted that"},{"speaker":"Stanley Leong","startTime":1617.3799999999999,"endTime":1620.9099999999999,"body":"hey we we we we just can't. We"},{"speaker":"Stanley Leong","startTime":1621.06,"endTime":1623.34,"body":"just have an emotional tie to"},{"speaker":"Stanley Leong","startTime":1621.06,"endTime":1623.34,"body":"it. They they had worked at this"},{"speaker":"Stanley Leong","startTime":1623.3999999999999,"endTime":1625.26,"body":"company their whole life, and"},{"speaker":"Stanley Leong","startTime":1623.3999999999999,"endTime":1625.26,"body":"they felt like they owed the"},{"speaker":"Stanley Leong","startTime":1625.35,"endTime":1627.72,"body":"company, and they felt like they"},{"speaker":"Stanley Leong","startTime":1625.35,"endTime":1627.72,"body":"were kind of betraying the"},{"speaker":"Stanley Leong","startTime":1627.96,"endTime":1631.26,"body":"company by selling the stock."},{"speaker":"Stanley Leong","startTime":1627.96,"endTime":1631.26,"body":"And I told them, you know, CEOs"},{"speaker":"Stanley Leong","startTime":1631.3799999999999,"endTime":1633.51,"body":"even sell their stock. It's it's"},{"speaker":"Stanley Leong","startTime":1631.3799999999999,"endTime":1633.51,"body":"not a betrayal of the company."},{"speaker":"Stanley Leong","startTime":1634.08,"endTime":1637.23,"body":"It's it's just good finance, but"},{"speaker":"Stanley Leong","startTime":1634.08,"endTime":1637.23,"body":"unfortunately, and then bad"},{"speaker":"Stanley Leong","startTime":1637.29,"endTime":1641.6,"body":"timing. And so yeah, so it it"},{"speaker":"Stanley Leong","startTime":1637.29,"endTime":1641.6,"body":"really is important to address"},{"speaker":"Stanley Leong","startTime":1641.69,"endTime":1646.8799999999999,"body":"that risk, as painful as it"},{"speaker":"Stanley Leong","startTime":1641.69,"endTime":1646.8799999999999,"body":"might be. I think that one of"},{"speaker":"Stanley Leong","startTime":1646.97,"endTime":1651.5,"body":"the first things I try to train"},{"speaker":"Stanley Leong","startTime":1646.97,"endTime":1651.5,"body":"my clients is not to be afraid"},{"speaker":"Stanley Leong","startTime":1651.56,"endTime":1655.1299999999999,"body":"of capital gains tax. Capital"},{"speaker":"Stanley Leong","startTime":1651.56,"endTime":1655.1299999999999,"body":"gains tax means you've made"},{"speaker":"Stanley Leong","startTime":1655.19,"endTime":1657.53,"body":"money. In fact, I joke with them"},{"speaker":"Stanley Leong","startTime":1655.19,"endTime":1657.53,"body":"that you want to pay more"},{"speaker":"Stanley Leong","startTime":1657.59,"endTime":1660.3999999999999,"body":"capital gains tax than anyone"},{"speaker":"Stanley Leong","startTime":1657.59,"endTime":1660.3999999999999,"body":"else you know, because that"},{"speaker":"Stanley Leong","startTime":1660.46,"endTime":1662.77,"body":"means you've made more money"},{"speaker":"Stanley Leong","startTime":1660.46,"endTime":1662.77,"body":"than anyone else you know, and"},{"speaker":"Stanley Leong","startTime":1662.86,"endTime":1665.47,"body":"so yeah. So don't be afraid to"},{"speaker":"Stanley Leong","startTime":1662.86,"endTime":1665.47,"body":"pay capital gains tax."},{"speaker":"Stanley Leong","startTime":1665.53,"endTime":1668.35,"body":"If it makes sense to sell the"},{"speaker":"Stanley Leong","startTime":1665.53,"endTime":1668.35,"body":"stock, then just sell the stock"},{"speaker":"Stanley Leong","startTime":1669.07,"endTime":1671.71,"body":"and pay the tax. You know, it's"},{"speaker":"Stanley Leong","startTime":1669.07,"endTime":1671.71,"body":"it's just like you don't want to"},{"speaker":"Stanley Leong","startTime":1672.04,"endTime":1674.86,"body":"make less money and earned"},{"speaker":"Stanley Leong","startTime":1672.04,"endTime":1674.86,"body":"income, right? You want you"},{"speaker":"Stanley Leong","startTime":1674.86,"endTime":1676.8999999999999,"body":"don't want a lower salary"},{"speaker":"Stanley Leong","startTime":1674.86,"endTime":1676.8999999999999,"body":"because you'll pay less taxes,"},{"speaker":"Stanley Leong","startTime":1676.99,"endTime":1679.3899999999999,"body":"right? No, you want a higher"},{"speaker":"Stanley Leong","startTime":1676.99,"endTime":1679.3899999999999,"body":"salary and pay more taxes, and"},{"speaker":"Stanley Leong","startTime":1679.4199999999998,"endTime":1682.59,"body":"so it's kind of the same idea,"},{"speaker":"Stanley Leong","startTime":1679.4199999999998,"endTime":1682.59,"body":"and there are some there are"},{"speaker":"Stanley Leong","startTime":1682.6799999999998,"endTime":1687.72,"body":"some ways to to defer capital"},{"speaker":"Stanley Leong","startTime":1682.6799999999998,"endTime":1687.72,"body":"gains, but when you defer it,"},{"speaker":"Stanley Leong","startTime":1687.78,"endTime":1689.76,"body":"you again you're just deferring,"},{"speaker":"Stanley Leong","startTime":1687.78,"endTime":1689.76,"body":"you're just putting it off till"},{"speaker":"Stanley Leong","startTime":1689.79,"endTime":1692.22,"body":"later, and then you're going to"},{"speaker":"Stanley Leong","startTime":1689.79,"endTime":1692.22,"body":"have an even bigger capital gain"},{"speaker":"Stanley Leong","startTime":1692.28,"endTime":1694.5,"body":"later. You know, assuming that"},{"speaker":"Stanley Leong","startTime":1692.28,"endTime":1694.5,"body":"that investment keeps going up,"},{"speaker":"Stanley Leong","startTime":1694.8899999999999,"endTime":1699.72,"body":"and so that just makes it even"},{"speaker":"Stanley Leong","startTime":1694.8899999999999,"endTime":1699.72,"body":"more painful sometimes. So so so"},{"speaker":"Stanley Leong","startTime":1700.11,"endTime":1703.37,"body":"yeah, I try to tell clients"},{"speaker":"Stanley Leong","startTime":1700.11,"endTime":1703.37,"body":"don't be afraid of paying"},{"speaker":"Stanley Leong","startTime":1703.6399999999999,"endTime":1707.03,"body":"capital gains tax. It's it's"},{"speaker":"Stanley Leong","startTime":1703.6399999999999,"endTime":1707.03,"body":"it's it means you've made money."},{"speaker":"Stanley Leong","startTime":1709.01,"endTime":1709.61,"body":"So let's see. Are there"},{"speaker":"Aaron Moncur","startTime":1709.6699999999998,"endTime":1713.99,"body":"any any strategies"},{"speaker":"Aaron Moncur","startTime":1709.6699999999998,"endTime":1713.99,"body":"to to pay less capital gains"},{"speaker":"Aaron Moncur","startTime":1714.1399999999999,"endTime":1717.4099999999999,"body":"tax? I mean, there's there's"},{"speaker":"Aaron Moncur","startTime":1714.1399999999999,"endTime":1717.4099999999999,"body":"real estate, right? What's it"},{"speaker":"Aaron Moncur","startTime":1717.4099999999999,"endTime":1720.97,"body":"called? The 1010 3110 31"},{"speaker":"Aaron Moncur","startTime":1717.4099999999999,"endTime":1720.97,"body":"something like that. Yep. Yeah."},{"speaker":"Stanley Leong","startTime":1721.21,"endTime":1723.37,"body":"So yeah, there"},{"speaker":"Stanley Leong","startTime":1721.21,"endTime":1723.37,"body":"are that that that also is a way"},{"speaker":"Stanley Leong","startTime":1723.46,"endTime":1727.06,"body":"to defer capital gains. Just"},{"speaker":"Stanley Leong","startTime":1723.46,"endTime":1727.06,"body":"defer. Yeah. But when you do"},{"speaker":"Stanley Leong","startTime":1727.1799999999998,"endTime":1730.06,"body":"that, you're still you're still"},{"speaker":"Stanley Leong","startTime":1727.1799999999998,"endTime":1730.06,"body":"deferring it to later when you"},{"speaker":"Stanley Leong","startTime":1730.12,"endTime":1732.55,"body":"sell that second property. You"},{"speaker":"Stanley Leong","startTime":1730.12,"endTime":1732.55,"body":"know, assuming you don't keep"},{"speaker":"Stanley Leong","startTime":1732.58,"endTime":1735.82,"body":"doing the 1030 ones, then then"},{"speaker":"Stanley Leong","startTime":1732.58,"endTime":1735.82,"body":"all of a sudden it is it is"},{"speaker":"Stanley Leong","startTime":1735.8799999999999,"endTime":1739.23,"body":"going all of it. Then will be"},{"speaker":"Stanley Leong","startTime":1735.8799999999999,"endTime":1739.23,"body":"taxable. I would say there's"},{"speaker":"Stanley Leong","startTime":1740.55,"endTime":1744.09,"body":"there there are a couple ways"},{"speaker":"Stanley Leong","startTime":1740.55,"endTime":1744.09,"body":"you can avoid capital gains tax,"},{"speaker":"Stanley Leong","startTime":1744.1499999999999,"endTime":1747.87,"body":"but most of them are not ideal"},{"speaker":"Stanley Leong","startTime":1744.1499999999999,"endTime":1747.87,"body":"to most people's goals. One, of"},{"speaker":"Stanley Leong","startTime":1747.8999999999999,"endTime":1749.4299999999998,"body":"course, is just don't make"},{"speaker":"Stanley Leong","startTime":1747.8999999999999,"endTime":1749.4299999999998,"body":"money, but of course that"},{"speaker":"Stanley Leong","startTime":1749.46,"endTime":1752.1299999999999,"body":"doesn't make any sense. You you"},{"speaker":"Stanley Leong","startTime":1749.46,"endTime":1752.1299999999999,"body":"you don't you want to make"},{"speaker":"Stanley Leong","startTime":1752.19,"endTime":1753.72,"body":"money, so that's not. I'll show"},{"speaker":"Stanley Leong","startTime":1752.19,"endTime":1753.72,"body":"you,"},{"speaker":"Aaron Moncur","startTime":1753.81,"endTime":1755.19,"body":"Uncle Sam."},{"speaker":"Aaron Moncur","startTime":1753.81,"endTime":1755.19,"body":"Exactly."},{"speaker":"Stanley Leong","startTime":1755.34,"endTime":1761.03,"body":"Yep. The second"},{"speaker":"Stanley Leong","startTime":1755.34,"endTime":1761.03,"body":"one is if you die, if you die,"},{"speaker":"Stanley Leong","startTime":1761.96,"endTime":1765.74,"body":"then when that money gets"},{"speaker":"Stanley Leong","startTime":1761.96,"endTime":1765.74,"body":"inherited, there is the capital"},{"speaker":"Stanley Leong","startTime":1765.77,"endTime":1770.1499999999999,"body":"gains are essentially waived for"},{"speaker":"Stanley Leong","startTime":1765.77,"endTime":1770.1499999999999,"body":"the for the inheritor. So for"},{"speaker":"Stanley Leong","startTime":1770.27,"endTime":1773.33,"body":"the beneficiary, yeah. So so and"},{"speaker":"Stanley Leong","startTime":1770.27,"endTime":1773.33,"body":"sometimes this can I mean you"},{"speaker":"Stanley Leong","startTime":1773.36,"endTime":1776.27,"body":"don't purposely die, but for"},{"speaker":"Stanley Leong","startTime":1773.36,"endTime":1776.27,"body":"clients that have more money,"},{"speaker":"Stanley Leong","startTime":1776.36,"endTime":1780.3999999999999,"body":"more assets, sometimes you know"},{"speaker":"Stanley Leong","startTime":1776.36,"endTime":1780.3999999999999,"body":"we will draw their their"},{"speaker":"Stanley Leong","startTime":1780.61,"endTime":1783.52,"body":"retirement plan, and they need"},{"speaker":"Stanley Leong","startTime":1780.61,"endTime":1783.52,"body":"this much to retire. They have"},{"speaker":"Stanley Leong","startTime":1783.73,"endTime":1787.03,"body":"more than that, and so they have"},{"speaker":"Stanley Leong","startTime":1783.73,"endTime":1787.03,"body":"this extra money that they know"},{"speaker":"Stanley Leong","startTime":1787.1799999999998,"endTime":1789.34,"body":"is going to go to their heirs,"},{"speaker":"Stanley Leong","startTime":1787.1799999999998,"endTime":1789.34,"body":"that they know they're not going"},{"speaker":"Stanley Leong","startTime":1789.34,"endTime":1791.86,"body":"to ever need to touch. And if"},{"speaker":"Stanley Leong","startTime":1789.34,"endTime":1791.86,"body":"they're fortunate, if you're"},{"speaker":"Stanley Leong","startTime":1791.8899999999999,"endTime":1794.6799999999998,"body":"fortunate enough to be in that"},{"speaker":"Stanley Leong","startTime":1791.8899999999999,"endTime":1794.6799999999998,"body":"situation, then then the tax"},{"speaker":"Stanley Leong","startTime":1794.74,"endTime":1796.6299999999999,"body":"deferral might make sense"},{"speaker":"Stanley Leong","startTime":1794.74,"endTime":1796.6299999999999,"body":"because then you're just putting"},{"speaker":"Stanley Leong","startTime":1796.69,"endTime":1799.6799999999998,"body":"taxes out, put a tax as far as"},{"speaker":"Stanley Leong","startTime":1796.69,"endTime":1799.6799999999998,"body":"possible, and then when you die"},{"speaker":"Stanley Leong","startTime":1799.9199999999998,"endTime":1803.1,"body":"and your kids or whoever"},{"speaker":"Stanley Leong","startTime":1799.9199999999998,"endTime":1803.1,"body":"inherits the money, then all"},{"speaker":"Stanley Leong","startTime":1803.1,"endTime":1805.3799999999999,"body":"those capital gains are waived."},{"speaker":"Stanley Leong","startTime":1803.1,"endTime":1805.3799999999999,"body":"So that that's where tax"},{"speaker":"Stanley Leong","startTime":1805.4099999999999,"endTime":1812.22,"body":"deferral might make sense. And"},{"speaker":"Stanley Leong","startTime":1805.4099999999999,"endTime":1812.22,"body":"then the the third one is is"},{"speaker":"charitable giving. So same idea","startTime":1812.31,"endTime":1815.4299999999998,"body":"if you if you have something"},{"speaker":"charitable giving. So same idea","startTime":1815.46,"endTime":1818.1,"body":"with a lot of capital gains and"},{"speaker":"charitable giving. So same idea","startTime":1815.46,"endTime":1818.1,"body":"you give it to charity, then"},{"speaker":"charitable giving. So same idea","startTime":1818.9099999999999,"endTime":1822.4099999999999,"body":"then you can you can you that no"},{"speaker":"charitable giving. So same idea","startTime":1818.9099999999999,"endTime":1822.4099999999999,"body":"one has to pay those capital"},{"speaker":"charitable giving. So same idea","startTime":1822.44,"endTime":1827.21,"body":"gains, and and that does bring"},{"speaker":"charitable giving. So same idea","startTime":1822.44,"endTime":1827.21,"body":"you to that's what some people"},{"speaker":"charitable giving. So same idea","startTime":1827.24,"endTime":1830.51,"body":"will do. If let's say you you do"},{"speaker":"charitable giving. So same idea","startTime":1827.24,"endTime":1830.51,"body":"give regularly to a charity,"},{"speaker":"charitable giving. So same idea","startTime":1830.6,"endTime":1833.12,"body":"your church, or or whatever"},{"speaker":"charitable giving. So same idea","startTime":1830.6,"endTime":1833.12,"body":"community charity that you have,"},{"speaker":"charitable giving. So same idea","startTime":1834.1699999999998,"endTime":1839.26,"body":"and you happen to have really"},{"speaker":"charitable giving. So same idea","startTime":1834.1699999999998,"endTime":1839.26,"body":"high high appreciated stock. You"},{"speaker":"charitable giving. So same idea","startTime":1839.29,"endTime":1842.1399999999999,"body":"can actually donate the stock to"},{"speaker":"charitable giving. So same idea","startTime":1839.29,"endTime":1842.1399999999999,"body":"charity instead of cash, and"},{"speaker":"charitable giving. So same idea","startTime":1842.4099999999999,"endTime":1844.1799999999998,"body":"then you don't have to worry"},{"speaker":"charitable giving. So same idea","startTime":1842.4099999999999,"endTime":1844.1799999999998,"body":"about the capital gains. So that"},{"speaker":"charitable giving. So same idea","startTime":1844.21,"endTime":1846.61,"body":"is a very popular strategy to"},{"speaker":"charitable giving. So same idea","startTime":1844.21,"endTime":1846.61,"body":"use if if they're more"},{"speaker":"charitable giving. So same idea","startTime":1847.06,"endTime":1851.86,"body":"charitably in kind. And then"},{"speaker":"charitable giving. So same idea","startTime":1847.06,"endTime":1851.86,"body":"similarly, you can gift to the"},{"speaker":"charitable giving. So same idea","startTime":1851.95,"endTime":1854.32,"body":"stock to your kids if you know"},{"speaker":"charitable giving. So same idea","startTime":1851.95,"endTime":1854.32,"body":"this is money you're going to"},{"speaker":"charitable giving. So same idea","startTime":1854.35,"endTime":1856.78,"body":"give to your kids anyways."},{"speaker":"charitable giving. So same idea","startTime":1854.35,"endTime":1856.78,"body":"Instead of giving them cash, you"},{"speaker":"charitable giving. So same idea","startTime":1856.81,"endTime":1860.8799999999999,"body":"can gift them the stock. Now, if"},{"speaker":"charitable giving. So same idea","startTime":1856.81,"endTime":1860.8799999999999,"body":"you gift the kids the stock,"},{"speaker":"charitable giving. So same idea","startTime":1861.06,"endTime":1863.9099999999999,"body":"they the kids then have to pay"},{"speaker":"charitable giving. So same idea","startTime":1861.06,"endTime":1863.9099999999999,"body":"the capital gains tax. But if"},{"speaker":"charitable giving. So same idea","startTime":1863.97,"endTime":1866.6399999999999,"body":"they're in a lower tax bracket,"},{"speaker":"charitable giving. So same idea","startTime":1863.97,"endTime":1866.6399999999999,"body":"especially if they're a young,"},{"speaker":"charitable giving. So same idea","startTime":1866.8799999999999,"endTime":1870.27,"body":"you know, a young young kid, or"},{"speaker":"charitable giving. So same idea","startTime":1866.8799999999999,"endTime":1870.27,"body":"and they have they just they're"},{"speaker":"charitable giving. So same idea","startTime":1870.3,"endTime":1873.48,"body":"just starting out, or they're in"},{"speaker":"charitable giving. So same idea","startTime":1870.3,"endTime":1873.48,"body":"college, then then they're in a"},{"speaker":"charitable giving. So same idea","startTime":1873.81,"endTime":1877.44,"body":"pretty low if if 0% tax bracket."},{"speaker":"charitable giving. So same idea","startTime":1873.81,"endTime":1877.44,"body":"So so that that might work as"},{"speaker":"charitable giving. So same idea","startTime":1877.5,"endTime":1882.95,"body":"well. So there are some ways to"},{"speaker":"charitable giving. So same idea","startTime":1877.5,"endTime":1882.95,"body":"to help mitigate the capital"},{"speaker":"charitable giving. So same idea","startTime":1882.98,"endTime":1885.53,"body":"gains tax, but they are very"},{"speaker":"charitable giving. So same idea","startTime":1882.98,"endTime":1885.53,"body":"specific to situations."},{"speaker":"Aaron Moncur","startTime":1886.22,"endTime":1889.6699999999998,"body":"Got it. Okay,"},{"speaker":"Aaron Moncur","startTime":1886.22,"endTime":1889.6699999999998,"body":"let's go back to the topic of"},{"speaker":"Aaron Moncur","startTime":1889.9099999999999,"endTime":1893.6,"body":"processes. You love processes."},{"speaker":"Aaron Moncur","startTime":1889.9099999999999,"endTime":1893.6,"body":"You're good at them. What are"},{"speaker":"Aaron Moncur","startTime":1893.6299999999999,"endTime":1898.31,"body":"some financial processes that"},{"speaker":"Aaron Moncur","startTime":1893.6299999999999,"endTime":1898.31,"body":"just you know the regular Joe"},{"speaker":"Aaron Moncur","startTime":1898.79,"endTime":1902.8899999999999,"body":"can implement into his or her"},{"speaker":"Aaron Moncur","startTime":1898.79,"endTime":1902.8899999999999,"body":"financial planning."},{"speaker":"Stanley Leong","startTime":1903.58,"endTime":1905.86,"body":"Yeah, so I'd say"},{"speaker":"Stanley Leong","startTime":1903.58,"endTime":1905.86,"body":"at a high level, the two main"},{"speaker":"Stanley Leong","startTime":1905.98,"endTime":1909.31,"body":"things are you want to save,"},{"speaker":"Stanley Leong","startTime":1905.98,"endTime":1909.31,"body":"especially if you're younger,"},{"speaker":"Stanley Leong","startTime":1910.48,"endTime":1912.3999999999999,"body":"you're you're just starting out."},{"speaker":"Stanley Leong","startTime":1910.48,"endTime":1912.3999999999999,"body":"You know, you're not sure"},{"speaker":"Stanley Leong","startTime":1912.49,"endTime":1914.83,"body":"whether you should save or not."},{"speaker":"Stanley Leong","startTime":1912.49,"endTime":1914.83,"body":"You should definitely save for"},{"speaker":"Stanley Leong","startTime":1914.83,"endTime":1917.26,"body":"the for the younger folks. I"},{"speaker":"Stanley Leong","startTime":1914.83,"endTime":1917.26,"body":"like to show them you can just"},{"speaker":"Stanley Leong","startTime":1917.26,"endTime":1921.36,"body":"do a really easy spreadsheet and"},{"speaker":"Stanley Leong","startTime":1917.26,"endTime":1921.36,"body":"show if you save $200 a month"},{"speaker":"Stanley Leong","startTime":1921.48,"endTime":1924.75,"body":"from ages 20 to 30, and then you"},{"speaker":"Stanley Leong","startTime":1921.48,"endTime":1924.75,"body":"just stop and never save again,"},{"speaker":"Stanley Leong","startTime":1925.26,"endTime":1927.6599999999999,"body":"you'll have a million dollars at"},{"speaker":"Stanley Leong","startTime":1925.26,"endTime":1927.6599999999999,"body":"age 60-five. You know, assuming"},{"speaker":"Stanley Leong","startTime":1927.69,"endTime":1931.95,"body":"10% growth, all that stuff. And"},{"speaker":"Stanley Leong","startTime":1927.69,"endTime":1931.95,"body":"so, if you wait until 30 and"},{"speaker":"Stanley Leong","startTime":1931.98,"endTime":1935.22,"body":"then you start saving to get to"},{"speaker":"Stanley Leong","startTime":1931.98,"endTime":1935.22,"body":"that same point, not only do you"},{"speaker":"Stanley Leong","startTime":1935.22,"endTime":1937.9199999999998,"body":"have to save a lot more each"},{"speaker":"Stanley Leong","startTime":1935.22,"endTime":1937.9199999999998,"body":"month, but you have to save the"},{"speaker":"Stanley Leong","startTime":1938.04,"endTime":1942.26,"body":"entire time 30-five years later"},{"speaker":"Stanley Leong","startTime":1938.04,"endTime":1942.26,"body":"to get to to 60-five, just to"},{"speaker":"Stanley Leong","startTime":1942.29,"endTime":1946.76,"body":"get to that same point. So, just"},{"speaker":"Stanley Leong","startTime":1942.29,"endTime":1946.76,"body":"saving in in your 20s and 30s is"},{"speaker":"Stanley Leong","startTime":1947.57,"endTime":1950.8999999999999,"body":"is is has a big determination as"},{"speaker":"Stanley Leong","startTime":1947.57,"endTime":1950.8999999999999,"body":"to how much money you end. How"},{"speaker":"Stanley Leong","startTime":1950.96,"endTime":1953.33,"body":"much you save in your early"},{"speaker":"Stanley Leong","startTime":1950.96,"endTime":1953.33,"body":"years is a big determinant of"},{"speaker":"Stanley Leong","startTime":1953.36,"endTime":1956.9299999999998,"body":"how much money you end up when"},{"speaker":"Stanley Leong","startTime":1953.36,"endTime":1956.9299999999998,"body":"you're older. And so, so I"},{"speaker":"Stanley Leong","startTime":1957.02,"endTime":1959.26,"body":"always encourage the younger"},{"speaker":"Stanley Leong","startTime":1957.02,"endTime":1959.26,"body":"folks to even if it's just 50"},{"speaker":"Stanley Leong","startTime":1959.29,"endTime":1962.1399999999999,"body":"bucks a month. Put away whatever"},{"speaker":"Stanley Leong","startTime":1959.29,"endTime":1962.1399999999999,"body":"you can. It it really makes a"},{"speaker":"Stanley Leong","startTime":1962.1699999999998,"endTime":1965.53,"body":"difference in those younger"},{"speaker":"Stanley Leong","startTime":1962.1699999999998,"endTime":1965.53,"body":"years, and yeah. And then"},{"speaker":"Stanley Leong","startTime":1965.59,"endTime":1968.35,"body":"saving, of course, the more"},{"speaker":"Stanley Leong","startTime":1965.59,"endTime":1968.35,"body":"automatic you can make it, the"},{"speaker":"Stanley Leong","startTime":1968.47,"endTime":1971.53,"body":"better. So 401k savings is great"},{"speaker":"Stanley Leong","startTime":1968.47,"endTime":1971.53,"body":"because it just comes out of"},{"speaker":"Stanley Leong","startTime":1971.53,"endTime":1974.05,"body":"your paycheck. You don't even"},{"speaker":"Stanley Leong","startTime":1971.53,"endTime":1974.05,"body":"realize it. If you're"},{"speaker":"Stanley Leong","startTime":1974.29,"endTime":1977.77,"body":"contributing to IRAs, just have"},{"speaker":"Stanley Leong","startTime":1974.29,"endTime":1977.77,"body":"it automatically. You know, X"},{"speaker":"Stanley Leong","startTime":1977.8,"endTime":1980.28,"body":"amount per month come out of"},{"speaker":"Stanley Leong","startTime":1977.8,"endTime":1980.28,"body":"your your your checking account,"},{"speaker":"Stanley Leong","startTime":1980.49,"endTime":1982.83,"body":"so you don't have to worry about"},{"speaker":"Stanley Leong","startTime":1980.49,"endTime":1982.83,"body":"it. You know the the whole"},{"speaker":"Stanley Leong","startTime":1982.9199999999998,"endTime":1987.21,"body":"personal finance strategy of pay"},{"speaker":"Stanley Leong","startTime":1982.9199999999998,"endTime":1987.21,"body":"yourself first. You know if you"},{"speaker":"Stanley Leong","startTime":1987.6299999999999,"endTime":1989.79,"body":"if you say oh yeah I'll just"},{"speaker":"Stanley Leong","startTime":1987.6299999999999,"endTime":1989.79,"body":"save what's at the whatever is"},{"speaker":"Stanley Leong","startTime":1989.8799999999999,"endTime":1991.62,"body":"left over at the end of the"},{"speaker":"Stanley Leong","startTime":1989.8799999999999,"endTime":1991.62,"body":"month. There's there's never"},{"speaker":"Stanley Leong","startTime":1991.6499999999999,"endTime":1993.9299999999998,"body":"going to be anything left over"},{"speaker":"Stanley Leong","startTime":1991.6499999999999,"endTime":1993.9299999999998,"body":"at the end of the month, and so"},{"speaker":"Stanley Leong","startTime":1994.71,"endTime":1997.74,"body":"so automatic savings is a really"},{"speaker":"Stanley Leong","startTime":1994.71,"endTime":1997.74,"body":"good you know sort of system to"},{"speaker":"Stanley Leong","startTime":1997.77,"endTime":2000.82,"body":"apply, especially when you're"},{"speaker":"Stanley Leong","startTime":1997.77,"endTime":2000.82,"body":"younger. The other one, and this"},{"speaker":"Stanley Leong","startTime":2001.0,"endTime":2004.72,"body":"is applies to anyone, is to"},{"speaker":"Stanley Leong","startTime":2001.0,"endTime":2004.72,"body":"regularly just have a system to"},{"speaker":"Stanley Leong","startTime":2004.84,"endTime":2009.6699999999998,"body":"regularly look over your"},{"speaker":"Stanley Leong","startTime":2004.84,"endTime":2009.6699999999998,"body":"finances once a year, maybe. So"},{"speaker":"Stanley Leong","startTime":2009.73,"endTime":2012.19,"body":"again, kind of like a machine,"},{"speaker":"Stanley Leong","startTime":2009.73,"endTime":2012.19,"body":"like a car, right? You don't"},{"speaker":"Stanley Leong","startTime":2012.25,"endTime":2014.95,"body":"just you have a great car and"},{"speaker":"Stanley Leong","startTime":2012.25,"endTime":2014.95,"body":"just and then just drive it for"},{"speaker":"Stanley Leong","startTime":2015.01,"endTime":2017.77,"body":"60 years. You you have to"},{"speaker":"Stanley Leong","startTime":2015.01,"endTime":2017.77,"body":"maintain it. You got to change"},{"speaker":"Stanley Leong","startTime":2017.77,"endTime":2020.85,"body":"the oil. You got to you got to"},{"speaker":"Stanley Leong","startTime":2017.77,"endTime":2020.85,"body":"run tests, rotate the tires, and"},{"speaker":"Stanley Leong","startTime":2021.33,"endTime":2025.71,"body":"and you need to do the same"},{"speaker":"Stanley Leong","startTime":2021.33,"endTime":2025.71,"body":"thing with your finances. What"},{"speaker":"Stanley Leong","startTime":2025.77,"endTime":2028.8899999999999,"body":"most people do is is they they"},{"speaker":"Stanley Leong","startTime":2025.77,"endTime":2028.8899999999999,"body":"make their decisions when they"},{"speaker":"Stanley Leong","startTime":2029.22,"endTime":2031.47,"body":"when they're kind of triggered"},{"speaker":"Stanley Leong","startTime":2029.22,"endTime":2031.47,"body":"to right when they start the"},{"speaker":"Stanley Leong","startTime":2031.59,"endTime":2034.35,"body":"job. Oh, I have to figure out"},{"speaker":"Stanley Leong","startTime":2031.59,"endTime":2034.35,"body":"how much to put in my 401k and"},{"speaker":"Stanley Leong","startTime":2034.3799999999999,"endTime":2037.11,"body":"what to invest in, and then and"},{"speaker":"Stanley Leong","startTime":2034.3799999999999,"endTime":2037.11,"body":"then they never look at it"},{"speaker":"Stanley Leong","startTime":2037.11,"endTime":2039.83,"body":"again. And those type of things"},{"speaker":"Stanley Leong","startTime":2037.11,"endTime":2039.83,"body":"you do have to look at"},{"speaker":"Stanley Leong","startTime":2039.9199999999998,"endTime":2042.8,"body":"regularly. You have to"},{"speaker":"Stanley Leong","startTime":2039.9199999999998,"endTime":2042.8,"body":"rebalance. You have to adjust"},{"speaker":"Stanley Leong","startTime":2042.8,"endTime":2045.3799999999999,"body":"the amount you're putting in"},{"speaker":"Stanley Leong","startTime":2042.8,"endTime":2045.3799999999999,"body":"based on new tax laws or based"},{"speaker":"Stanley Leong","startTime":2045.47,"endTime":2049.28,"body":"on your income changing or your"},{"speaker":"Stanley Leong","startTime":2045.47,"endTime":2049.28,"body":"situation changing. And so, so"},{"speaker":"Stanley Leong","startTime":2049.4900000000002,"endTime":2052.4900000000002,"body":"just having a system in place,"},{"speaker":"Stanley Leong","startTime":2049.4900000000002,"endTime":2052.4900000000002,"body":"whether it's just an annual"},{"speaker":"Stanley Leong","startTime":2052.55,"endTime":2056.36,"body":"meeting with your spouse, maybe"},{"speaker":"Stanley Leong","startTime":2052.55,"endTime":2056.36,"body":"I have a colleague who's a"},{"speaker":"Stanley Leong","startTime":2056.48,"endTime":2059.09,"body":"financial advisor as well, and"},{"speaker":"Stanley Leong","startTime":2056.48,"endTime":2059.09,"body":"he actually has an annual"},{"speaker":"Stanley Leong","startTime":2059.12,"endTime":2061.75,"body":"meeting with his spouse, they"},{"speaker":"Stanley Leong","startTime":2059.12,"endTime":2061.75,"body":"make it a big thing. They they"},{"speaker":"Stanley Leong","startTime":2061.84,"endTime":2064.6,"body":"broke in a they broke open a"},{"speaker":"Stanley Leong","startTime":2061.84,"endTime":2064.6,"body":"nice bottle of wine every year,"},{"speaker":"Stanley Leong","startTime":2064.78,"endTime":2068.4700000000003,"body":"and and they just start going at"},{"speaker":"Stanley Leong","startTime":2064.78,"endTime":2068.4700000000003,"body":"their finances. And so so"},{"speaker":"Stanley Leong","startTime":2068.71,"endTime":2071.9500000000003,"body":"whatever it takes, if it is"},{"speaker":"Stanley Leong","startTime":2068.71,"endTime":2071.9500000000003,"body":"something, it is important to"},{"speaker":"Stanley Leong","startTime":2072.07,"endTime":2076.57,"body":"regularly review your finances."},{"speaker":"Stanley Leong","startTime":2072.07,"endTime":2076.57,"body":"And and you know if a lot of"},{"speaker":"Stanley Leong","startTime":2076.6,"endTime":2079.21,"body":"people for a lot of people"},{"speaker":"Stanley Leong","startTime":2076.6,"endTime":2079.21,"body":"working with a financial advisor"},{"speaker":"Stanley Leong","startTime":2079.21,"endTime":2081.39,"body":"is is the best way to do it"},{"speaker":"Stanley Leong","startTime":2079.21,"endTime":2081.39,"body":"because that kind of holds them"},{"speaker":"Stanley Leong","startTime":2081.4500000000003,"endTime":2083.55,"body":"accountable, and hopefully, if"},{"speaker":"Stanley Leong","startTime":2081.4500000000003,"endTime":2083.55,"body":"it's a good advisor, they'll"},{"speaker":"Stanley Leong","startTime":2083.88,"endTime":2087.2999999999997,"body":"they'll review their finances"},{"speaker":"Stanley Leong","startTime":2083.88,"endTime":2087.2999999999997,"body":"you know regularly. If if you're"},{"speaker":"Stanley Leong","startTime":2087.2999999999997,"endTime":2090.54,"body":"not disciplined enough to do it"},{"speaker":"Stanley Leong","startTime":2087.2999999999997,"endTime":2090.54,"body":"yourself, but but that I think"},{"speaker":"Stanley Leong","startTime":2090.63,"endTime":2096.39,"body":"at a high level, just kind of"},{"speaker":"Stanley Leong","startTime":2090.63,"endTime":2096.39,"body":"monitoring your situation is"},{"speaker":"Stanley Leong","startTime":2096.48,"endTime":2100.25,"body":"really important. And then yeah,"},{"speaker":"Stanley Leong","startTime":2096.48,"endTime":2100.25,"body":"setting up things automatically."},{"speaker":"Stanley Leong","startTime":2100.37,"endTime":2103.97,"body":"There's, I know there's a"},{"speaker":"Stanley Leong","startTime":2100.37,"endTime":2103.97,"body":"strategy a lot of tech people"},{"speaker":"Stanley Leong","startTime":2104.0299999999997,"endTime":2106.58,"body":"use called in our industry"},{"speaker":"Stanley Leong","startTime":2104.0299999999997,"endTime":2106.58,"body":"called the mega backdoor Roth,"},{"speaker":"Stanley Leong","startTime":2106.88,"endTime":2111.74,"body":"and so this is using the"},{"speaker":"Stanley Leong","startTime":2106.88,"endTime":2111.74,"body":"after-tax 401k So I'm not sure"},{"speaker":"Stanley Leong","startTime":2111.98,"endTime":2115.34,"body":"how familiar your your audience"},{"speaker":"Stanley Leong","startTime":2111.98,"endTime":2115.34,"body":"might be with this. The with the"},{"speaker":"Stanley Leong","startTime":2115.49,"endTime":2119.14,"body":"401k most people know that you"},{"speaker":"Stanley Leong","startTime":2115.49,"endTime":2119.14,"body":"can contribute pre-tax and Roth"},{"speaker":"Stanley Leong","startTime":2119.86,"endTime":2123.7599999999998,"body":"into the 401k That's what they"},{"speaker":"Stanley Leong","startTime":2119.86,"endTime":2123.7599999999998,"body":"call an elective deferral. You"},{"speaker":"Stanley Leong","startTime":2123.82,"endTime":2128.38,"body":"can contribute this this year,"},{"speaker":"Stanley Leong","startTime":2123.82,"endTime":2128.38,"body":"2026 It's like 24,500 You"},{"speaker":"Stanley Leong","startTime":2128.41,"endTime":2131.77,"body":"contribute a little bit more if"},{"speaker":"Stanley Leong","startTime":2128.41,"endTime":2131.77,"body":"you're if you're over 50. But on"},{"speaker":"Stanley Leong","startTime":2131.92,"endTime":2135.73,"body":"top of that, at many companies,"},{"speaker":"Stanley Leong","startTime":2131.92,"endTime":2135.73,"body":"you can actually contribute"},{"speaker":"Stanley Leong","startTime":2135.82,"endTime":2138.31,"body":"above and beyond that, which"},{"speaker":"Stanley Leong","startTime":2135.82,"endTime":2138.31,"body":"what they call after tax 401k"},{"speaker":"Stanley Leong","startTime":2139.44,"endTime":2143.0099999999998,"body":"And and the the it's not a set"},{"speaker":"Stanley Leong","startTime":2139.44,"endTime":2143.0099999999998,"body":"dollar limit. It's it's kind of"},{"speaker":"Stanley Leong","startTime":2143.04,"endTime":2145.35,"body":"a little more complicated"},{"speaker":"Stanley Leong","startTime":2143.04,"endTime":2145.35,"body":"equation they use to how much"},{"speaker":"Stanley Leong","startTime":2145.41,"endTime":2147.63,"body":"you can put in there. But it's"},{"speaker":"Stanley Leong","startTime":2145.41,"endTime":2147.63,"body":"usually around 20 to $30,000"},{"speaker":"Stanley Leong","startTime":2148.2599999999998,"endTime":2151.95,"body":"more a year that you can put in,"},{"speaker":"Stanley Leong","startTime":2148.2599999999998,"endTime":2151.95,"body":"and then you can take this after"},{"speaker":"Stanley Leong","startTime":2152.0099999999998,"endTime":2155.52,"body":"tax 400k and you can convert it"},{"speaker":"Stanley Leong","startTime":2152.0099999999998,"endTime":2155.52,"body":"to a Roth IRA. And so that"},{"speaker":"Stanley Leong","startTime":2155.61,"endTime":2159.74,"body":"that's what they call a mega"},{"speaker":"Stanley Leong","startTime":2155.61,"endTime":2159.74,"body":"backdoor Roth. And essentially,"},{"speaker":"Stanley Leong","startTime":2160.0099999999998,"endTime":2163.2799999999997,"body":"if it's done correctly, it"},{"speaker":"Stanley Leong","startTime":2160.0099999999998,"endTime":2163.2799999999997,"body":"allows you to to get 20 to"},{"speaker":"Stanley Leong","startTime":2163.34,"endTime":2167.7799999999997,"body":"$30,000 a year more into a tax"},{"speaker":"Stanley Leong","startTime":2163.34,"endTime":2167.7799999999997,"body":"free position like the Roth IRA,"},{"speaker":"Stanley Leong","startTime":2167.93,"endTime":2170.12,"body":"where where the money comes out"},{"speaker":"Stanley Leong","startTime":2167.93,"endTime":2170.12,"body":"completely tax free when you"},{"speaker":"Stanley Leong","startTime":2170.15,"endTime":2172.61,"body":"take it out. You call"},{"speaker":"Aaron Moncur","startTime":2172.7,"endTime":2176.18,"body":"this a mega"},{"speaker":"Aaron Moncur","startTime":2172.7,"endTime":2176.18,"body":"backdoor Roth IRA? Yeah,"},{"speaker":"Stanley Leong","startTime":2176.63,"endTime":2178.73,"body":"yeah, yeah, yeah."},{"speaker":"Stanley Leong","startTime":2176.63,"endTime":2178.73,"body":"It's kind of a look"},{"speaker":"Aaron Moncur","startTime":2178.82,"endTime":2179.18,"body":"into this."},{"speaker":"Stanley Leong","startTime":2179.48,"endTime":2181.15,"body":"Yeah, yeah. It's"},{"speaker":"Stanley Leong","startTime":2179.48,"endTime":2181.15,"body":"it's a silly name, but I don't"},{"speaker":"Stanley Leong","startTime":2181.15,"endTime":2183.37,"body":"know how it got. But but yeah,"},{"speaker":"Stanley Leong","startTime":2181.15,"endTime":2183.37,"body":"yeah."},{"speaker":"Aaron Moncur","startTime":2183.82,"endTime":2185.41,"body":"I've never heard"},{"speaker":"Aaron Moncur","startTime":2183.82,"endTime":2185.41,"body":"of this. Interesting."},{"speaker":"Stanley Leong","startTime":2185.71,"endTime":2187.42,"body":"Yeah, it's"},{"speaker":"Stanley Leong","startTime":2185.71,"endTime":2187.42,"body":"basically taking after tax 401k"},{"speaker":"Stanley Leong","startTime":2188.83,"endTime":2191.59,"body":"contributing to after tax 401k"},{"speaker":"Stanley Leong","startTime":2188.83,"endTime":2191.59,"body":"which again is above and beyond"},{"speaker":"Stanley Leong","startTime":2191.62,"endTime":2195.22,"body":"your pre tax and Roth, and then"},{"speaker":"Stanley Leong","startTime":2191.62,"endTime":2195.22,"body":"converting it to Roth Roth"},{"speaker":"Stanley Leong","startTime":2195.4,"endTime":2197.83,"body":"either Roth IRA or Roth 400 and"},{"speaker":"Stanley Leong","startTime":2195.4,"endTime":2197.83,"body":"K. You can usually do either."},{"speaker":"Stanley Leong","startTime":2198.85,"endTime":2203.61,"body":"Both tax-wise is the same, and"},{"speaker":"Stanley Leong","startTime":2198.85,"endTime":2203.61,"body":"yeah. So it's a especially with"},{"speaker":"Stanley Leong","startTime":2203.67,"endTime":2206.49,"body":"high-income engineers, they have"},{"speaker":"Stanley Leong","startTime":2203.67,"endTime":2206.49,"body":"trouble getting money into that"},{"speaker":"Stanley Leong","startTime":2206.58,"endTime":2210.06,"body":"tax-free position because they"},{"speaker":"Stanley Leong","startTime":2206.58,"endTime":2210.06,"body":"they make too much to contribute"},{"speaker":"Stanley Leong","startTime":2210.12,"endTime":2213.2999999999997,"body":"to a Roth directly. There there"},{"speaker":"Stanley Leong","startTime":2210.12,"endTime":2213.2999999999997,"body":"are rules how much you can make"},{"speaker":"Stanley Leong","startTime":2213.96,"endTime":2216.75,"body":"in contributing to Roth, and"},{"speaker":"Stanley Leong","startTime":2213.96,"endTime":2216.75,"body":"then they don't want to do Roth"},{"speaker":"Stanley Leong","startTime":2216.81,"endTime":2219.38,"body":"in their 401k because every"},{"speaker":"Stanley Leong","startTime":2216.81,"endTime":2219.38,"body":"dollar that goes into Roth is $1"},{"speaker":"Stanley Leong","startTime":2219.74,"endTime":2223.13,"body":"you can't put into the pre-tax,"},{"speaker":"Stanley Leong","startTime":2219.74,"endTime":2223.13,"body":"and so and especially if you're"},{"speaker":"Stanley Leong","startTime":2223.13,"endTime":2225.32,"body":"higher income earner, you"},{"speaker":"Stanley Leong","startTime":2223.13,"endTime":2225.32,"body":"probably want the pre-tax to get"},{"speaker":"Stanley Leong","startTime":2225.47,"endTime":2228.56,"body":"get that tax deduction, and so"},{"speaker":"Stanley Leong","startTime":2225.47,"endTime":2228.56,"body":"this is a way for high-income"},{"speaker":"Stanley Leong","startTime":2228.65,"endTime":2232.85,"body":"earners to get money into the"},{"speaker":"Stanley Leong","startTime":2228.65,"endTime":2232.85,"body":"Roth position, even though they"},{"speaker":"Stanley Leong","startTime":2232.91,"endTime":2235.46,"body":"have high income, and and a lot"},{"speaker":"Stanley Leong","startTime":2232.91,"endTime":2235.46,"body":"of folks have it available and"},{"speaker":"Stanley Leong","startTime":2235.46,"endTime":2238.37,"body":"they don't realize it's there."},{"speaker":"Stanley Leong","startTime":2235.46,"endTime":2238.37,"body":"It's that strategy's there, and"},{"speaker":"Stanley Leong","startTime":2238.4,"endTime":2241.33,"body":"so that that's that that's a"},{"speaker":"Stanley Leong","startTime":2238.4,"endTime":2241.33,"body":"that's one I see a lot of times"},{"speaker":"Stanley Leong","startTime":2241.45,"endTime":2246.94,"body":"missed by high tech"},{"speaker":"Stanley Leong","startTime":2241.45,"endTime":2246.94,"body":"professionals. So so yeah, go"},{"speaker":"Stanley Leong","startTime":2246.94,"endTime":2247.06,"body":"ahead."},{"speaker":"Aaron Moncur","startTime":2248.41,"endTime":2251.74,"body":"Just commenting"},{"speaker":"Aaron Moncur","startTime":2248.41,"endTime":2251.74,"body":"what what amazing systems we"},{"speaker":"Aaron Moncur","startTime":2251.98,"endTime":2255.5499999999997,"body":"have in place. These financial"},{"speaker":"Aaron Moncur","startTime":2251.98,"endTime":2255.5499999999997,"body":"vehicles, right? I I'm thinking"},{"speaker":"Aaron Moncur","startTime":2256.0299999999997,"endTime":2260.52,"body":"you know I don't even know when"},{"speaker":"Aaron Moncur","startTime":2256.0299999999997,"endTime":2260.52,"body":"they started 100 years ago, many"},{"speaker":"Aaron Moncur","startTime":2260.64,"endTime":2263.91,"body":"hundreds of years ago, before"},{"speaker":"Aaron Moncur","startTime":2260.64,"endTime":2263.91,"body":"any of this existed, right? Roth"},{"speaker":"Aaron Moncur","startTime":2264.12,"endTime":2268.2,"body":"IRAs, 401 ks, all of these"},{"speaker":"Aaron Moncur","startTime":2264.12,"endTime":2268.2,"body":"financial investment vehicles."},{"speaker":"Aaron Moncur","startTime":2268.71,"endTime":2272.25,"body":"Like, how how did we, as a"},{"speaker":"Aaron Moncur","startTime":2268.71,"endTime":2272.25,"body":"society, even come up with the"},{"speaker":"Aaron Moncur","startTime":2272.97,"endTime":2276.75,"body":"idea that hey, if if we put"},{"speaker":"Aaron Moncur","startTime":2272.97,"endTime":2276.75,"body":"together this financial vehicle"},{"speaker":"Aaron Moncur","startTime":2276.7799999999997,"endTime":2281.15,"body":"and people contribute to it, and"},{"speaker":"Aaron Moncur","startTime":2276.7799999999997,"endTime":2281.15,"body":"it's used honestly, I don't even"},{"speaker":"Aaron Moncur","startTime":2281.18,"endTime":2284.66,"body":"know where it gets used, but"},{"speaker":"Aaron Moncur","startTime":2281.18,"endTime":2284.66,"body":"it's it's going to come back a"},{"speaker":"Aaron Moncur","startTime":2284.72,"endTime":2286.91,"body":"lot more than they put in,"},{"speaker":"Aaron Moncur","startTime":2284.72,"endTime":2286.91,"body":"right? You're going to put in $1"},{"speaker":"Aaron Moncur","startTime":2287.24,"endTime":2289.97,"body":"and it's going to come back"},{"speaker":"Aaron Moncur","startTime":2287.24,"endTime":2289.97,"body":"$1.50 a year later. Like, how"},{"speaker":"Aaron Moncur","startTime":2290.09,"endTime":2293.63,"body":"did we even come up with that"},{"speaker":"Aaron Moncur","startTime":2290.09,"endTime":2293.63,"body":"that idea that we are able to"},{"speaker":"Aaron Moncur","startTime":2294.38,"endTime":2297.56,"body":"conceptualize and then turn into"},{"speaker":"Aaron Moncur","startTime":2294.38,"endTime":2297.56,"body":"this this reality? It's kind of"},{"speaker":"Aaron Moncur","startTime":2297.98,"endTime":2300.49,"body":"mind blowing to me. Like, who's"},{"speaker":"Aaron Moncur","startTime":2297.98,"endTime":2300.49,"body":"the one that first came up with"},{"speaker":"Aaron Moncur","startTime":2300.5499999999997,"endTime":2301.81,"body":"that thought and made it work?"},{"speaker":"Stanley Leong","startTime":2302.5,"endTime":2304.87,"body":"Yeah, yeah. So"},{"speaker":"Stanley Leong","startTime":2302.5,"endTime":2304.87,"body":"I'm actually reading a book"},{"speaker":"Stanley Leong","startTime":2305.02,"endTime":2309.16,"body":"right now called The History of"},{"speaker":"Stanley Leong","startTime":2305.02,"endTime":2309.16,"body":"Money. Of course you are. Yes, I"},{"speaker":"Stanley Leong","startTime":2309.22,"endTime":2311.2599999999998,"body":"I can't remember the name of the"},{"speaker":"Stanley Leong","startTime":2309.22,"endTime":2311.2599999999998,"body":"author. It's very interesting"},{"speaker":"Stanley Leong","startTime":2311.29,"endTime":2313.66,"body":"though, and it actually talks"},{"speaker":"Stanley Leong","startTime":2311.29,"endTime":2313.66,"body":"about through our history from"},{"speaker":"Stanley Leong","startTime":2313.9,"endTime":2317.83,"body":"from from you know the Roman"},{"speaker":"Stanley Leong","startTime":2313.9,"endTime":2317.83,"body":"Empire days, and I'm I'm I'm I"},{"speaker":"Stanley Leong","startTime":2317.98,"endTime":2320.1,"body":"think half or three quarters way"},{"speaker":"Stanley Leong","startTime":2317.98,"endTime":2320.1,"body":"through now, but it's very"},{"speaker":"Stanley Leong","startTime":2320.13,"endTime":2322.56,"body":"interesting. Just kind of how"},{"speaker":"Stanley Leong","startTime":2320.13,"endTime":2322.56,"body":"how money became money,"},{"speaker":"Stanley Leong","startTime":2322.65,"endTime":2324.96,"body":"essentially, and then lending"},{"speaker":"Stanley Leong","startTime":2322.65,"endTime":2324.96,"body":"and borrowing and investing and"},{"speaker":"Stanley Leong","startTime":2324.99,"endTime":2329.2799999999997,"body":"all that stuff. From the tax"},{"speaker":"Stanley Leong","startTime":2324.99,"endTime":2329.2799999999997,"body":"code standpoint, you know the"},{"speaker":"Stanley Leong","startTime":2329.49,"endTime":2333.45,"body":"reason why we have all these"},{"speaker":"Stanley Leong","startTime":2329.49,"endTime":2333.45,"body":"different like strategies where"},{"speaker":"Stanley Leong","startTime":2333.84,"endTime":2336.9,"body":"and and it is kind of a they"},{"speaker":"Stanley Leong","startTime":2333.84,"endTime":2336.9,"body":"call it backdoor. It is kind of"},{"speaker":"Stanley Leong","startTime":2336.93,"endTime":2339.36,"body":"a backdoor thing, right? You're"},{"speaker":"Stanley Leong","startTime":2336.93,"endTime":2339.36,"body":"you're not really contributing"},{"speaker":"Stanley Leong","startTime":2339.36,"endTime":2341.72,"body":"directly to Roth, you're"},{"speaker":"Stanley Leong","startTime":2339.36,"endTime":2341.72,"body":"contributing through after tax"},{"speaker":"Stanley Leong","startTime":2341.75,"endTime":2345.2,"body":"401k and then you're you're"},{"speaker":"Stanley Leong","startTime":2341.75,"endTime":2345.2,"body":"converting it to a Roth, and and"},{"speaker":"Stanley Leong","startTime":2345.32,"endTime":2348.83,"body":"so the reason they have that"},{"speaker":"Stanley Leong","startTime":2345.32,"endTime":2348.83,"body":"those complications is is just"},{"speaker":"Stanley Leong","startTime":2348.86,"endTime":2352.1,"body":"because the way the IRS code"},{"speaker":"Stanley Leong","startTime":2348.86,"endTime":2352.1,"body":"works is they never they never"},{"speaker":"Stanley Leong","startTime":2352.25,"endTime":2354.95,"body":"simplify anything. They just add"},{"speaker":"Stanley Leong","startTime":2352.25,"endTime":2354.95,"body":"on every year. They change the"},{"speaker":"Stanley Leong","startTime":2355.07,"endTime":2359.15,"body":"code. They just add things on,"},{"speaker":"Stanley Leong","startTime":2355.07,"endTime":2359.15,"body":"and so 1000s of pages later,"},{"speaker":"Stanley Leong","startTime":2359.42,"endTime":2361.81,"body":"right? There are always going to"},{"speaker":"Stanley Leong","startTime":2359.42,"endTime":2361.81,"body":"be all these loopholes and and"},{"speaker":"Stanley Leong","startTime":2361.9,"endTime":2363.88,"body":"rules and things, just because"},{"speaker":"Stanley Leong","startTime":2361.9,"endTime":2363.88,"body":"it just gets more and more"},{"speaker":"Stanley Leong","startTime":2363.94,"endTime":2366.16,"body":"complicated. Yeah, what"},{"speaker":"Aaron Moncur","startTime":2366.52,"endTime":2368.77,"body":"a asinine way to"},{"speaker":"Aaron Moncur","startTime":2366.52,"endTime":2368.77,"body":"do things. Yeah,"},{"speaker":"Stanley Leong","startTime":2368.89,"endTime":2371.02,"body":"exactly. Yep,"},{"speaker":"Stanley Leong","startTime":2368.89,"endTime":2371.02,"body":"yep. I would add with with that"},{"speaker":"Stanley Leong","startTime":2371.11,"endTime":2372.88,"body":"after tax, just for your"},{"speaker":"Stanley Leong","startTime":2371.11,"endTime":2372.88,"body":"listeners who who might be"},{"speaker":"Stanley Leong","startTime":2372.97,"endTime":2375.94,"body":"interested. There's if you work"},{"speaker":"Stanley Leong","startTime":2372.97,"endTime":2375.94,"body":"at a big tech company again,"},{"speaker":"Stanley Leong","startTime":2376.0299999999997,"endTime":2380.0099999999998,"body":"like Google, Apple, Amazon,"},{"speaker":"Stanley Leong","startTime":2376.0299999999997,"endTime":2380.0099999999998,"body":"Nvidia, those four. They all of"},{"speaker":"Stanley Leong","startTime":2380.07,"endTime":2384.21,"body":"those big companies do do offer"},{"speaker":"Stanley Leong","startTime":2380.07,"endTime":2384.21,"body":"after tax 401k Some companies"},{"speaker":"Stanley Leong","startTime":2384.27,"endTime":2388.35,"body":"don't. So so if you your company"},{"speaker":"Stanley Leong","startTime":2384.27,"endTime":2388.35,"body":"may not offer it, but every big"},{"speaker":"Stanley Leong","startTime":2430.31,"endTime":2433.1,"body":"tech company I've run into, they"},{"speaker":"Stanley Leong","startTime":2430.31,"endTime":2433.1,"body":"do offer that after tax. And"},{"speaker":"Stanley Leong","startTime":2433.22,"endTime":2435.5899999999997,"body":"then the other way you can do it"},{"speaker":"Stanley Leong","startTime":2433.22,"endTime":2435.5899999999997,"body":"is if you're if you're self"},{"speaker":"Stanley Leong","startTime":2435.68,"endTime":2439.3399999999997,"body":"employed and and you have an"},{"speaker":"Stanley Leong","startTime":2435.68,"endTime":2439.3399999999997,"body":"individual 401k then you should"},{"speaker":"Stanley Leong","startTime":2439.37,"endTime":2443.14,"body":"also be able to do that after"},{"speaker":"Stanley Leong","startTime":2439.37,"endTime":2443.14,"body":"tax. The the folks that might"},{"speaker":"Stanley Leong","startTime":2443.2,"endTime":2447.1,"body":"have some issues is if you work"},{"speaker":"Stanley Leong","startTime":2443.2,"endTime":2447.1,"body":"for a small company or or you're"},{"speaker":"Stanley Leong","startTime":2447.19,"endTime":2450.6099999999997,"body":"self-employed, but you have a"},{"speaker":"Stanley Leong","startTime":2447.19,"endTime":2450.6099999999997,"body":"bunch of employees. Just because"},{"speaker":"Stanley Leong","startTime":2450.7,"endTime":2455.71,"body":"there are some they call them"},{"speaker":"Stanley Leong","startTime":2450.7,"endTime":2455.71,"body":"top-heavy rules, and so every"},{"speaker":"Stanley Leong","startTime":2455.77,"endTime":2458.1099999999997,"body":"employee has to be contributing"},{"speaker":"Stanley Leong","startTime":2455.77,"endTime":2458.1099999999997,"body":"a certain amount in order for"},{"speaker":"Stanley Leong","startTime":2458.1699999999996,"endTime":2460.7799999999997,"body":"you to contribute a certain"},{"speaker":"Stanley Leong","startTime":2458.1699999999996,"endTime":2460.7799999999997,"body":"amount, and so so you you you"},{"speaker":"Stanley Leong","startTime":2460.87,"endTime":2463.29,"body":"rent you might have some"},{"speaker":"Stanley Leong","startTime":2460.87,"endTime":2463.29,"body":"difficulties doing the after tax"},{"speaker":"Stanley Leong","startTime":2463.41,"endTime":2466.23,"body":"in that situation, but"},{"speaker":"Stanley Leong","startTime":2463.41,"endTime":2466.23,"body":"otherwise, it is a wonderful way"},{"speaker":"Stanley Leong","startTime":2466.35,"endTime":2468.12,"body":"to get tax free money in"},{"speaker":"Stanley Leong","startTime":2466.35,"endTime":2468.12,"body":"retirement."},{"speaker":"Aaron Moncur","startTime":2468.93,"endTime":2471.24,"body":"Yeah. So these are"},{"speaker":"Aaron Moncur","startTime":2468.93,"endTime":2471.24,"body":"are all you know pretty"},{"speaker":"Aaron Moncur","startTime":2471.39,"endTime":2476.16,"body":"traditional investment vehicles."},{"speaker":"Aaron Moncur","startTime":2471.39,"endTime":2476.16,"body":"Are are there any less"},{"speaker":"Aaron Moncur","startTime":2476.31,"endTime":2479.16,"body":"traditional strategies that you"},{"speaker":"Aaron Moncur","startTime":2476.31,"endTime":2479.16,"body":"can share with"},{"speaker":"Stanley Leong","startTime":2480.5099999999998,"endTime":2489.5,"body":"us? Less"},{"speaker":"Stanley Leong","startTime":2480.5099999999998,"endTime":2489.5,"body":"traditional. Yeah, actually,"},{"speaker":"Stanley Leong","startTime":2489.5299999999997,"endTime":2493.58,"body":"well, well, yeah. I would say"},{"speaker":"Stanley Leong","startTime":2489.5299999999997,"endTime":2493.58,"body":"the the the 401k strategy is is"},{"speaker":"Stanley Leong","startTime":2493.7,"endTime":2497.0299999999997,"body":"pretty traditional. This after"},{"speaker":"Stanley Leong","startTime":2493.7,"endTime":2497.0299999999997,"body":"tax to Roth actually didn't"},{"speaker":"Stanley Leong","startTime":2497.2999999999997,"endTime":2500.8399999999997,"body":"really become available or"},{"speaker":"Stanley Leong","startTime":2497.2999999999997,"endTime":2500.8399999999997,"body":"popular until the most some more"},{"speaker":"Stanley Leong","startTime":2500.8999999999996,"endTime":2503.74,"body":"recent years, maybe the last 10"},{"speaker":"Stanley Leong","startTime":2500.8999999999996,"endTime":2503.74,"body":"years or so. So, so that one is"},{"speaker":"Stanley Leong","startTime":2504.19,"endTime":2507.25,"body":"the other one is something"},{"speaker":"Stanley Leong","startTime":2504.19,"endTime":2507.25,"body":"that's become a little more"},{"speaker":"Stanley Leong","startTime":2508.18,"endTime":2511.18,"body":"available to folks. Is a HSA, a"},{"speaker":"Stanley Leong","startTime":2508.18,"endTime":2511.18,"body":"health savings account."},{"speaker":"Aaron Moncur","startTime":2511.33,"endTime":2511.8999999999996,"body":"Oh yes,"},{"speaker":"Stanley Leong","startTime":2512.5,"endTime":2515.02,"body":"and so now this"},{"speaker":"Stanley Leong","startTime":2512.5,"endTime":2515.02,"body":"again isn't for everybody. You"},{"speaker":"Stanley Leong","startTime":2515.08,"endTime":2518.1099999999997,"body":"do have to have a high"},{"speaker":"Stanley Leong","startTime":2515.08,"endTime":2518.1099999999997,"body":"deductible health plan in order"},{"speaker":"Stanley Leong","startTime":2518.2,"endTime":2521.25,"body":"to contribute to a health"},{"speaker":"Stanley Leong","startTime":2518.2,"endTime":2521.25,"body":"savings account. But if you can"},{"speaker":"Stanley Leong","startTime":2521.25,"endTime":2524.3999999999996,"body":"contribute to the health savings"},{"speaker":"Stanley Leong","startTime":2521.25,"endTime":2524.3999999999996,"body":"account, it is also a wonderful"},{"speaker":"Stanley Leong","startTime":2524.49,"endTime":2527.52,"body":"retirement account. So we we"},{"speaker":"Stanley Leong","startTime":2524.49,"endTime":2527.52,"body":"encourage clients that have this"},{"speaker":"Stanley Leong","startTime":2527.6099999999997,"endTime":2530.79,"body":"account don't think of it as a"},{"speaker":"Stanley Leong","startTime":2527.6099999999997,"endTime":2530.79,"body":"health account. Think of it as a"},{"speaker":"Stanley Leong","startTime":2530.79,"endTime":2531.96,"body":"a retirement account."},{"speaker":"Aaron Moncur","startTime":2532.83,"endTime":2533.43,"body":"Oh, interesting."},{"speaker":"Stanley Leong","startTime":2533.8199999999997,"endTime":2536.64,"body":"And so yeah, and"},{"speaker":"Stanley Leong","startTime":2533.8199999999997,"endTime":2536.64,"body":"because from a tax standpoint,"},{"speaker":"Stanley Leong","startTime":2536.8199999999997,"endTime":2539.91,"body":"it's it's the best of of"},{"speaker":"Stanley Leong","startTime":2536.8199999999997,"endTime":2539.91,"body":"everything, right? A Roth IRA,"},{"speaker":"Stanley Leong","startTime":2540.12,"endTime":2541.91,"body":"you don't get a deduction for"},{"speaker":"Stanley Leong","startTime":2540.12,"endTime":2541.91,"body":"putting money in, but you"},{"speaker":"Stanley Leong","startTime":2541.97,"endTime":2545.0,"body":"actually get money tax free"},{"speaker":"Stanley Leong","startTime":2541.97,"endTime":2545.0,"body":"coming out. A regular pre-tax"},{"speaker":"Stanley Leong","startTime":2545.1499999999996,"endTime":2547.52,"body":"401k, you get a deduction"},{"speaker":"Stanley Leong","startTime":2545.1499999999996,"endTime":2547.52,"body":"putting it in, but then it will"},{"speaker":"Stanley Leong","startTime":2547.5499999999997,"endTime":2550.31,"body":"be tax coming out, right? So"},{"speaker":"Stanley Leong","startTime":2547.5499999999997,"endTime":2550.31,"body":"tax, the IRS is going to get"},{"speaker":"Stanley Leong","startTime":2550.3399999999997,"endTime":2554.24,"body":"their hands on it on one way or"},{"speaker":"Stanley Leong","startTime":2550.3399999999997,"endTime":2554.24,"body":"another. The HSA is the one time"},{"speaker":"Stanley Leong","startTime":2554.2999999999997,"endTime":2558.44,"body":"the IRS can never touch it. It's"},{"speaker":"Stanley Leong","startTime":2554.2999999999997,"endTime":2558.44,"body":"pre-tax going in, it grows tax"},{"speaker":"Stanley Leong","startTime":2558.47,"endTime":2561.25,"body":"deferred, and then it comes out"},{"speaker":"Stanley Leong","startTime":2558.47,"endTime":2561.25,"body":"completely tax-free. So the IRS"},{"speaker":"Stanley Leong","startTime":2561.37,"endTime":2563.7999999999997,"body":"never sees it, so from a tax"},{"speaker":"Stanley Leong","startTime":2561.37,"endTime":2563.7999999999997,"body":"standpoint, it's an amazing"},{"speaker":"Stanley Leong","startTime":2563.89,"endTime":2568.66,"body":"vehicle, and so we don't"},{"speaker":"Stanley Leong","startTime":2563.89,"endTime":2568.66,"body":"recommend using it like like a"},{"speaker":"Stanley Leong","startTime":2568.7799999999997,"endTime":2570.7599999999998,"body":"regular health plan. Like most"},{"speaker":"Stanley Leong","startTime":2568.7799999999997,"endTime":2570.7599999999998,"body":"people are used to the flex"},{"speaker":"Stanley Leong","startTime":2570.7599999999998,"endTime":2573.2799999999997,"body":"spending accounts, the FSAs that"},{"speaker":"Stanley Leong","startTime":2570.7599999999998,"endTime":2573.2799999999997,"body":"have been around a long time,"},{"speaker":"Stanley Leong","startTime":2573.94,"endTime":2576.6699999999996,"body":"and so and those were use it or"},{"speaker":"Stanley Leong","startTime":2573.94,"endTime":2576.6699999999996,"body":"lose it, right? So I remember we"},{"speaker":"Stanley Leong","startTime":2576.7,"endTime":2579.64,"body":"we would we would put money in"},{"speaker":"Stanley Leong","startTime":2576.7,"endTime":2579.64,"body":"FSA, and we have money, you"},{"speaker":"Stanley Leong","startTime":2579.64,"endTime":2581.49,"body":"know, in November and December,"},{"speaker":"Stanley Leong","startTime":2579.64,"endTime":2581.49,"body":"we have to go to the the"},{"speaker":"Stanley Leong","startTime":2582.06,"endTime":2584.97,"body":"convenience store and buy a"},{"speaker":"Stanley Leong","startTime":2582.06,"endTime":2584.97,"body":"whole bunch of buy aspirin or"},{"speaker":"Stanley Leong","startTime":2585.0299999999997,"endTime":2587.1,"body":"first aid kits or whatever to"},{"speaker":"Stanley Leong","startTime":2585.0299999999997,"endTime":2587.1,"body":"use up the money. Otherwise,"},{"speaker":"Stanley Leong","startTime":2587.1,"endTime":2590.8199999999997,"body":"you're going to lose it. The HSA"},{"speaker":"Stanley Leong","startTime":2587.1,"endTime":2590.8199999999997,"body":"is not use it or lose it, right?"},{"speaker":"Stanley Leong","startTime":2590.85,"endTime":2593.58,"body":"So it's it's your account and"},{"speaker":"Stanley Leong","startTime":2590.85,"endTime":2593.58,"body":"you can keep it indefinitely."},{"speaker":"Stanley Leong","startTime":2594.06,"endTime":2596.6699999999996,"body":"And so instead of using it, we"},{"speaker":"Stanley Leong","startTime":2594.06,"endTime":2596.6699999999996,"body":"actually recommend keeping the"},{"speaker":"Stanley Leong","startTime":2596.79,"endTime":2599.79,"body":"money in there and just letting"},{"speaker":"Stanley Leong","startTime":2596.79,"endTime":2599.79,"body":"it grow. Invest it and let it"},{"speaker":"Stanley Leong","startTime":2599.8199999999997,"endTime":2603.71,"body":"grow and really take advantage"},{"speaker":"Stanley Leong","startTime":2599.8199999999997,"endTime":2603.71,"body":"of the tax-free characteristics"},{"speaker":"Stanley Leong","startTime":2603.77,"endTime":2607.85,"body":"of it. So don't use them. So max"},{"speaker":"Stanley Leong","startTime":2603.77,"endTime":2607.85,"body":"it out, but don't actually use"},{"speaker":"Stanley Leong","startTime":2607.94,"endTime":2610.3999999999996,"body":"it for your you know medical"},{"speaker":"Stanley Leong","startTime":2607.94,"endTime":2610.3999999999996,"body":"copay or your aspirin or"},{"speaker":"Stanley Leong","startTime":2610.46,"endTime":2614.81,"body":"prescriptions. Pay that out of"},{"speaker":"Stanley Leong","startTime":2610.46,"endTime":2614.81,"body":"pocket. But at the same time, we"},{"speaker":"Stanley Leong","startTime":2614.87,"endTime":2617.5699999999997,"body":"also recommend saving the"},{"speaker":"Stanley Leong","startTime":2614.87,"endTime":2617.5699999999997,"body":"receipts, even though you're not"},{"speaker":"Stanley Leong","startTime":2617.66,"endTime":2620.8999999999996,"body":"using the HSA. One thing you can"},{"speaker":"Stanley Leong","startTime":2617.66,"endTime":2620.8999999999996,"body":"also do is when you're in"},{"speaker":"Stanley Leong","startTime":2621.02,"endTime":2624.6699999999996,"body":"retirement, one of the features"},{"speaker":"Stanley Leong","startTime":2621.02,"endTime":2624.6699999999996,"body":"of the HSA is you can reimburse"},{"speaker":"Stanley Leong","startTime":2624.73,"endTime":2628.21,"body":"yourself completely tax-free"},{"speaker":"Stanley Leong","startTime":2624.73,"endTime":2628.21,"body":"from the HSA for any medical"},{"speaker":"Stanley Leong","startTime":2628.21,"endTime":2631.81,"body":"expenses since the HSA started."},{"speaker":"Stanley Leong","startTime":2628.21,"endTime":2631.81,"body":"And so, let's say you have"},{"speaker":"Stanley Leong","startTime":2631.8999999999996,"endTime":2635.0499999999997,"body":"$10,000 of expenses over the"},{"speaker":"Stanley Leong","startTime":2631.8999999999996,"endTime":2635.0499999999997,"body":"last 20 years that you've saved"},{"speaker":"Stanley Leong","startTime":2635.08,"endTime":2638.3799999999997,"body":"receipts for. You can literally"},{"speaker":"Stanley Leong","startTime":2635.08,"endTime":2638.3799999999997,"body":"just say, \"Oh, I'm going to take"},{"speaker":"Stanley Leong","startTime":2638.47,"endTime":2641.0499999999997,"body":"out 10,000 from the HSA and"},{"speaker":"Stanley Leong","startTime":2638.47,"endTime":2641.0499999999997,"body":"reimburse myself all that for"},{"speaker":"Stanley Leong","startTime":2641.1099999999997,"endTime":2643.6499999999996,"body":"all those receipts back then,"},{"speaker":"Stanley Leong","startTime":2641.1099999999997,"endTime":2643.6499999999996,"body":"and then easily pull it every"},{"speaker":"Stanley Leong","startTime":2643.74,"endTime":2646.74,"body":"once. So, so yeah. So we do"},{"speaker":"Stanley Leong","startTime":2643.74,"endTime":2646.74,"body":"recommend keeping the receipts,"},{"speaker":"Stanley Leong","startTime":2646.7999999999997,"endTime":2648.93,"body":"but yeah. So that that's a"},{"speaker":"Stanley Leong","startTime":2646.7999999999997,"endTime":2648.93,"body":"that's a more recent"},{"speaker":"Stanley Leong","startTime":2649.3199999999997,"endTime":2653.1299999999997,"body":"development. But that definitely"},{"speaker":"Stanley Leong","startTime":2649.3199999999997,"endTime":2653.1299999999997,"body":"one that I think a lot of people"},{"speaker":"Stanley Leong","startTime":2653.19,"endTime":2656.8799999999997,"body":"miss. They most people still use"},{"speaker":"Stanley Leong","startTime":2653.19,"endTime":2656.8799999999997,"body":"the HSA just as a like the like"},{"speaker":"Stanley Leong","startTime":2657.0,"endTime":2658.8599999999997,"body":"the flex spending account. They"},{"speaker":"Stanley Leong","startTime":2657.0,"endTime":2658.8599999999997,"body":"try to use it all by the end of"},{"speaker":"Stanley Leong","startTime":2658.8599999999997,"endTime":2659.04,"body":"the year."},{"speaker":"Aaron Moncur","startTime":2662.5499999999997,"endTime":2666.14,"body":"Shoot, I had a a"},{"speaker":"Aaron Moncur","startTime":2662.5499999999997,"endTime":2666.14,"body":"thought and I just lost it. So"},{"speaker":"Aaron Moncur","startTime":2666.2,"endTime":2669.5,"body":"we're talking about oh yeah, the"},{"speaker":"Aaron Moncur","startTime":2666.2,"endTime":2669.5,"body":"HSA. I didn't even realize that"},{"speaker":"Aaron Moncur","startTime":2669.74,"endTime":2673.46,"body":"money compounds in an HSA. I"},{"speaker":"Aaron Moncur","startTime":2669.74,"endTime":2673.46,"body":"thought you just put it in there"},{"speaker":"Aaron Moncur","startTime":2673.7,"endTime":2676.52,"body":"and nothing happens. It just"},{"speaker":"Aaron Moncur","startTime":2673.7,"endTime":2676.52,"body":"stays there, but there's no like"},{"speaker":"Aaron Moncur","startTime":2676.64,"endTime":2679.3999999999996,"body":"interest or anything. Yeah,"},{"speaker":"Aaron Moncur","startTime":2676.64,"endTime":2679.3999999999996,"body":"that's not the case. I"},{"speaker":"Stanley Leong","startTime":2679.49,"endTime":2682.18,"body":"think the default"},{"speaker":"Stanley Leong","startTime":2679.49,"endTime":2682.18,"body":"is it just goes to cash, and so"},{"speaker":"Stanley Leong","startTime":2682.27,"endTime":2684.3999999999996,"body":"usually he's not making much,"},{"speaker":"Stanley Leong","startTime":2682.27,"endTime":2684.3999999999996,"body":"maybe a little bit of interest."},{"speaker":"Stanley Leong","startTime":2685.21,"endTime":2689.47,"body":"But yeah, most HSAs now you can"},{"speaker":"Stanley Leong","startTime":2685.21,"endTime":2689.47,"body":"invest kind of like a 401k You"},{"speaker":"Stanley Leong","startTime":2689.5,"endTime":2692.83,"body":"can invest in like a target date"},{"speaker":"Stanley Leong","startTime":2689.5,"endTime":2692.83,"body":"fund or whatever, and and yeah,"},{"speaker":"Stanley Leong","startTime":2692.98,"endTime":2693.8799999999997,"body":"yeah. So you can have it grow."},{"speaker":"Aaron Moncur","startTime":2694.81,"endTime":2697.1499999999996,"body":"Wow, tax free"},{"speaker":"Aaron Moncur","startTime":2694.81,"endTime":2697.1499999999996,"body":"going in and tax free coming"},{"speaker":"Aaron Moncur","startTime":2697.27,"endTime":2697.33,"body":"out."},{"speaker":"Stanley Leong","startTime":2697.72,"endTime":2699.8199999999997,"body":"Yeah, exactly."},{"speaker":"Stanley Leong","startTime":2697.72,"endTime":2699.8199999999997,"body":"Yep, yep. The best in the world."},{"speaker":"Stanley Leong","startTime":2700.18,"endTime":2700.2999999999997,"body":"Yep,"},{"speaker":"Aaron Moncur","startTime":2700.5099999999998,"endTime":2703.2599999999998,"body":"amazing. Okay, all"},{"speaker":"Aaron Moncur","startTime":2700.5099999999998,"endTime":2703.2599999999998,"body":"right. Well, Stanley, I think"},{"speaker":"Aaron Moncur","startTime":2703.3199999999997,"endTime":2707.1299999999997,"body":"we'll we'll start wrapping it up"},{"speaker":"Aaron Moncur","startTime":2703.3199999999997,"endTime":2707.1299999999997,"body":"here. Maybe one more question to"},{"speaker":"Aaron Moncur","startTime":2707.3999999999996,"endTime":2712.3799999999997,"body":"to end with. So you have this in"},{"speaker":"Aaron Moncur","startTime":2707.3999999999996,"endTime":2712.3799999999997,"body":"the beginning. It was really"},{"speaker":"Aaron Moncur","startTime":2712.44,"endTime":2714.99,"body":"difficult, right? First few"},{"speaker":"Aaron Moncur","startTime":2712.44,"endTime":2714.99,"body":"years, kind of starting your own"},{"speaker":"Aaron Moncur","startTime":2715.1099999999997,"endTime":2718.14,"body":"business and working through"},{"speaker":"Aaron Moncur","startTime":2715.1099999999997,"endTime":2718.14,"body":"cold calling and things like"},{"speaker":"Aaron Moncur","startTime":2718.2,"endTime":2721.79,"body":"that. But you successfully"},{"speaker":"Aaron Moncur","startTime":2718.2,"endTime":2721.79,"body":"ultimately made this transition."},{"speaker":"Aaron Moncur","startTime":2722.2999999999997,"endTime":2725.27,"body":"Any advice that you would give"},{"speaker":"Aaron Moncur","startTime":2722.2999999999997,"endTime":2725.27,"body":"to engineers who might be"},{"speaker":"Aaron Moncur","startTime":2725.39,"endTime":2728.72,"body":"listening to this, thinking to"},{"speaker":"Aaron Moncur","startTime":2725.39,"endTime":2728.72,"body":"themselves, \"I'm interested in a"},{"speaker":"Aaron Moncur","startTime":2728.8399999999997,"endTime":2732.83,"body":"career change myself that maybe"},{"speaker":"Aaron Moncur","startTime":2728.8399999999997,"endTime":2732.83,"body":"takes me out of engineering into"},{"speaker":"Aaron Moncur","startTime":2732.89,"endTime":2736.31,"body":"something else. But well, the"},{"speaker":"Aaron Moncur","startTime":2732.89,"endTime":2736.31,"body":"the sunken cost fallacy, right?"},{"speaker":"Aaron Moncur","startTime":2736.37,"endTime":2738.74,"body":"I've put all this time and"},{"speaker":"Aaron Moncur","startTime":2736.37,"endTime":2738.74,"body":"effort into being an engineer. I"},{"speaker":"Aaron Moncur","startTime":2738.83,"endTime":2742.48,"body":"can't just throw that away. What"},{"speaker":"Aaron Moncur","startTime":2738.83,"endTime":2742.48,"body":"what advice or or you know"},{"speaker":"Aaron Moncur","startTime":2743.23,"endTime":2744.19,"body":"feedback might you share?"},{"speaker":"Stanley Leong","startTime":2744.94,"endTime":2748.87,"body":"Yeah, yeah, I I"},{"speaker":"Stanley Leong","startTime":2744.94,"endTime":2748.87,"body":"would say actually I think it is"},{"speaker":"Stanley Leong","startTime":2748.99,"endTime":2752.2,"body":"it is a that is a good thought"},{"speaker":"Stanley Leong","startTime":2748.99,"endTime":2752.2,"body":"in that you don't want to waste"},{"speaker":"Stanley Leong","startTime":2752.29,"endTime":2755.89,"body":"your background because starting"},{"speaker":"Stanley Leong","startTime":2752.29,"endTime":2755.89,"body":"over completely is really"},{"speaker":"Stanley Leong","startTime":2755.95,"endTime":2758.23,"body":"difficult. You have not you have"},{"speaker":"Stanley Leong","startTime":2755.95,"endTime":2758.23,"body":"nothing to give you have nothing"},{"speaker":"Stanley Leong","startTime":2758.23,"endTime":2760.21,"body":"to offer, right? You have no"},{"speaker":"Stanley Leong","startTime":2758.23,"endTime":2760.21,"body":"experience, you have no"},{"speaker":"Stanley Leong","startTime":2760.27,"endTime":2763.8599999999997,"body":"education in the in whatever new"},{"speaker":"Stanley Leong","startTime":2760.27,"endTime":2763.8599999999997,"body":"thing you're doing, presumably,"},{"speaker":"Stanley Leong","startTime":2765.21,"endTime":2768.6299999999997,"body":"and and so it's really hard to"},{"speaker":"Stanley Leong","startTime":2765.21,"endTime":2768.6299999999997,"body":"get off the ground just starting"},{"speaker":"Stanley Leong","startTime":2768.72,"endTime":2771.0899999999997,"body":"over. Usually, especially if"},{"speaker":"Stanley Leong","startTime":2768.72,"endTime":2771.0899999999997,"body":"you're older, you know. When I"},{"speaker":"Stanley Leong","startTime":2771.18,"endTime":2773.43,"body":"when I did this, my career"},{"speaker":"Stanley Leong","startTime":2771.18,"endTime":2773.43,"body":"chance. I was in my 20s. I"},{"speaker":"Stanley Leong","startTime":2773.46,"endTime":2775.98,"body":"didn't have any kids. I had lots"},{"speaker":"Stanley Leong","startTime":2773.46,"endTime":2775.98,"body":"of energy. You know, I don't"},{"speaker":"Stanley Leong","startTime":2775.98,"endTime":2779.43,"body":"think I could have done that"},{"speaker":"Stanley Leong","startTime":2775.98,"endTime":2779.43,"body":"today. You know, I'm I'm turning"},{"speaker":"Stanley Leong","startTime":2779.46,"endTime":2785.93,"body":"51 So, so you know, I I do"},{"speaker":"Stanley Leong","startTime":2779.46,"endTime":2785.93,"body":"recommend, if possible, somehow"},{"speaker":"Stanley Leong","startTime":2786.1099999999997,"endTime":2790.7,"body":"leveraging your background in"},{"speaker":"Stanley Leong","startTime":2786.1099999999997,"endTime":2790.7,"body":"whatever it is you do. Most most"},{"speaker":"Stanley Leong","startTime":2790.8199999999997,"endTime":2794.8999999999996,"body":"careers and most things you can"},{"speaker":"Stanley Leong","startTime":2790.8199999999997,"endTime":2794.8999999999996,"body":"you can leverage two different"},{"speaker":"Stanley Leong","startTime":2794.93,"endTime":2800.18,"body":"things into one. You know, I I I"},{"speaker":"Stanley Leong","startTime":2794.93,"endTime":2800.18,"body":"I talk my my oldest child is in"},{"speaker":"Stanley Leong","startTime":2800.27,"endTime":2804.0099999999998,"body":"college now. She's a freshman in"},{"speaker":"Stanley Leong","startTime":2800.27,"endTime":2804.0099999999998,"body":"in college, and and she's"},{"speaker":"Stanley Leong","startTime":2804.04,"endTime":2807.43,"body":"studying physics. And but she's"},{"speaker":"Stanley Leong","startTime":2804.04,"endTime":2807.43,"body":"very musical. She's very"},{"speaker":"Stanley Leong","startTime":2807.58,"endTime":2811.8399999999997,"body":"talented with music and art, and"},{"speaker":"Stanley Leong","startTime":2807.58,"endTime":2811.8399999999997,"body":"and she wants to minor in in"},{"speaker":"Stanley Leong","startTime":2811.93,"endTime":2814.81,"body":"something like that. And and I"},{"speaker":"Stanley Leong","startTime":2811.93,"endTime":2814.81,"body":"said, yeah, you can you can"},{"speaker":"Stanley Leong","startTime":2814.87,"endTime":2817.8399999999997,"body":"absolutely do that. You can you"},{"speaker":"Stanley Leong","startTime":2814.87,"endTime":2817.8399999999997,"body":"know with physics, maybe we were"},{"speaker":"Stanley Leong","startTime":2817.8999999999996,"endTime":2820.27,"body":"at a symphony hall once, and"},{"speaker":"Stanley Leong","startTime":2817.8999999999996,"endTime":2820.27,"body":"they had these weird shaped"},{"speaker":"Stanley Leong","startTime":2820.33,"endTime":2822.45,"body":"things hanging from the ceiling,"},{"speaker":"Stanley Leong","startTime":2820.33,"endTime":2822.45,"body":"and you know that's for the"},{"speaker":"Stanley Leong","startTime":2822.5099999999998,"endTime":2825.18,"body":"acoustics, and so you can design"},{"speaker":"Stanley Leong","startTime":2822.5099999999998,"endTime":2825.18,"body":"those type of things if you're"},{"speaker":"Stanley Leong","startTime":2825.21,"endTime":2827.91,"body":"really good at physics, right?"},{"speaker":"Stanley Leong","startTime":2825.21,"endTime":2827.91,"body":"And and you understand music,"},{"speaker":"Stanley Leong","startTime":2828.75,"endTime":2831.39,"body":"you could design instruments."},{"speaker":"Stanley Leong","startTime":2828.75,"endTime":2831.39,"body":"There's all different things you"},{"speaker":"Stanley Leong","startTime":2831.4199999999996,"endTime":2836.3999999999996,"body":"could do. I had a another one."},{"speaker":"Stanley Leong","startTime":2831.4199999999996,"endTime":2836.3999999999996,"body":"My my youngest was more"},{"speaker":"Stanley Leong","startTime":2836.43,"endTime":2839.3999999999996,"body":"interested in computer science,"},{"speaker":"Stanley Leong","startTime":2836.43,"endTime":2839.3999999999996,"body":"and and we have a friend who"},{"speaker":"Stanley Leong","startTime":2839.5499999999997,"endTime":2844.2799999999997,"body":"actually a friend of a friend"},{"speaker":"Stanley Leong","startTime":2839.5499999999997,"endTime":2844.2799999999997,"body":"who was who was helped develop a"},{"speaker":"Stanley Leong","startTime":2844.49,"endTime":2848.81,"body":"golem in in you know Lord of the"},{"speaker":"Stanley Leong","startTime":2844.49,"endTime":2848.81,"body":"Rings right and he he had an art"},{"speaker":"Stanley Leong","startTime":2849.14,"endTime":2852.1099999999997,"body":"he had an art degree and he was"},{"speaker":"Stanley Leong","startTime":2849.14,"endTime":2852.1099999999997,"body":"a computer scientist he kind of"},{"speaker":"Stanley Leong","startTime":2852.14,"endTime":2855.74,"body":"put those together and there you"},{"speaker":"Stanley Leong","startTime":2852.14,"endTime":2855.74,"body":"go so so you can almost you can"},{"speaker":"Stanley Leong","startTime":2855.77,"endTime":2859.37,"body":"almost always find a way to kind"},{"speaker":"Stanley Leong","startTime":2855.77,"endTime":2859.37,"body":"of mix two seemingly ununrelated"},{"speaker":"Stanley Leong","startTime":2859.43,"endTime":2864.22,"body":"things together and myself you"},{"speaker":"Stanley Leong","startTime":2859.43,"endTime":2864.22,"body":"know, I I I went into finances"},{"speaker":"Stanley Leong","startTime":2864.3999999999996,"endTime":2866.77,"body":"in many ways completely the"},{"speaker":"Stanley Leong","startTime":2864.3999999999996,"endTime":2866.77,"body":"opposite of engineering, but I"},{"speaker":"Stanley Leong","startTime":2866.8599999999997,"endTime":2869.2599999999998,"body":"somehow found a way to kind of"},{"speaker":"Stanley Leong","startTime":2866.8599999999997,"endTime":2869.2599999999998,"body":"bring those things together to"},{"speaker":"Stanley Leong","startTime":2869.6499999999996,"endTime":2873.04,"body":"to be in the career I am now."},{"speaker":"Stanley Leong","startTime":2869.6499999999996,"endTime":2873.04,"body":"And so I do think it really"},{"speaker":"Stanley Leong","startTime":2873.16,"endTime":2876.85,"body":"helps to leverage your"},{"speaker":"Stanley Leong","startTime":2873.16,"endTime":2876.85,"body":"background in one way or another"},{"speaker":"Stanley Leong","startTime":2877.0,"endTime":2879.7599999999998,"body":"just to help get get you off the"},{"speaker":"Stanley Leong","startTime":2877.0,"endTime":2879.7599999999998,"body":"ground with that business. Like"},{"speaker":"Stanley Leong","startTime":2879.8799999999997,"endTime":2883.3799999999997,"body":"for me, I if if I were to go"},{"speaker":"Stanley Leong","startTime":2879.8799999999997,"endTime":2883.3799999999997,"body":"back and tell myself my younger"},{"speaker":"Stanley Leong","startTime":2883.5,"endTime":2886.3199999999997,"body":"self to do something different,"},{"speaker":"Stanley Leong","startTime":2883.5,"endTime":2886.3199999999997,"body":"I that's what I would have told"},{"speaker":"Stanley Leong","startTime":2886.3199999999997,"endTime":2889.14,"body":"him because I didn't specialize"},{"speaker":"Stanley Leong","startTime":2886.3199999999997,"endTime":2889.14,"body":"in engineering until a little"},{"speaker":"Stanley Leong","startTime":2889.14,"endTime":2892.9199999999996,"body":"bit later until I I realized one"},{"speaker":"Stanley Leong","startTime":2889.14,"endTime":2892.9199999999996,"body":"day I don't know maybe 810 years"},{"speaker":"Stanley Leong","startTime":2892.98,"endTime":2895.29,"body":"into my career that oh I have a"},{"speaker":"Stanley Leong","startTime":2892.98,"endTime":2895.29,"body":"lot of engineers as clients"},{"speaker":"Stanley Leong","startTime":2895.3199999999997,"endTime":2899.58,"body":"maybe I maybe this is something"},{"speaker":"Stanley Leong","startTime":2895.3199999999997,"endTime":2899.58,"body":"I should pay attention to but if"},{"speaker":"Stanley Leong","startTime":2899.6699999999996,"endTime":2902.0299999999997,"body":"I could go back and do it again"},{"speaker":"Stanley Leong","startTime":2899.6699999999996,"endTime":2902.0299999999997,"body":"I would I would have started"},{"speaker":"Stanley Leong","startTime":2902.0299999999997,"endTime":2904.79,"body":"from day one and just specialize"},{"speaker":"Stanley Leong","startTime":2902.0299999999997,"endTime":2904.79,"body":"in working with engineers"},{"speaker":"Stanley Leong","startTime":2904.8199999999997,"endTime":2908.2999999999997,"body":"because that's what I know that"},{"speaker":"Stanley Leong","startTime":2904.8199999999997,"endTime":2908.2999999999997,"body":"that's who I am and that's who I"},{"speaker":"Stanley Leong","startTime":2908.3599999999997,"endTime":2911.39,"body":"would attract. So so yeah, I"},{"speaker":"Stanley Leong","startTime":2908.3599999999997,"endTime":2911.39,"body":"would say that the advice would"},{"speaker":"Stanley Leong","startTime":2911.4199999999996,"endTime":2914.21,"body":"be to try to leverage your"},{"speaker":"Stanley Leong","startTime":2911.4199999999996,"endTime":2914.21,"body":"background however you can into"},{"speaker":"Stanley Leong","startTime":2914.24,"endTime":2916.04,"body":"the new career and find find a"},{"speaker":"Stanley Leong","startTime":2914.24,"endTime":2916.04,"body":"way to do that."},{"speaker":"Aaron Moncur","startTime":2916.91,"endTime":2919.16,"body":"Yeah, wonderful"},{"speaker":"Aaron Moncur","startTime":2916.91,"endTime":2919.16,"body":"advice. Very practical. All"},{"speaker":"Aaron Moncur","startTime":2919.6699999999996,"endTime":2922.8999999999996,"body":"right. Well, Stanley, thank you"},{"speaker":"Aaron Moncur","startTime":2919.6699999999996,"endTime":2922.8999999999996,"body":"so much for being on the show"},{"speaker":"Aaron Moncur","startTime":2923.02,"endTime":2925.8999999999996,"body":"today. I learned a few things"},{"speaker":"Aaron Moncur","startTime":2923.02,"endTime":2925.8999999999996,"body":"that I'm going to go off and and"},{"speaker":"Aaron Moncur","startTime":2925.93,"endTime":2929.71,"body":"talk with my financial advisor"},{"speaker":"Aaron Moncur","startTime":2925.93,"endTime":2929.71,"body":"about. Awesome. How can how can"},{"speaker":"Aaron Moncur","startTime":2929.74,"endTime":2930.79,"body":"people get a hold of you?"},{"speaker":"Stanley Leong","startTime":2931.6,"endTime":2934.21,"body":"Yeah, yeah. So I"},{"speaker":"Stanley Leong","startTime":2931.6,"endTime":2934.21,"body":"do have a website for my book."},{"speaker":"Stanley Leong","startTime":2934.27,"endTime":2935.95,"body":"It's"},{"speaker":"Stanley Leong","startTime":2934.27,"endTime":2935.95,"body":"engineeringyourfinancesbook.com"},{"speaker":"Stanley Leong","startTime":2937.6,"endTime":2940.4199999999996,"body":"They can get a free copy of a"},{"speaker":"Stanley Leong","startTime":2937.6,"endTime":2940.4199999999996,"body":"free soft copy of the book,"},{"speaker":"Stanley Leong","startTime":2940.5099999999998,"endTime":2943.29,"body":"either PDF or a flipbook"},{"speaker":"Stanley Leong","startTime":2940.5099999999998,"endTime":2943.29,"body":"version. There's also a free"},{"speaker":"Stanley Leong","startTime":2943.44,"endTime":2947.04,"body":"audio version of the book, so so"},{"speaker":"Stanley Leong","startTime":2943.44,"endTime":2947.04,"body":"feel free to to visit the site"},{"speaker":"Stanley Leong","startTime":2947.1299999999997,"endTime":2950.46,"body":"and and get the book there. They"},{"speaker":"Stanley Leong","startTime":2947.1299999999997,"endTime":2950.46,"body":"can get the book on Amazon as"},{"speaker":"Stanley Leong","startTime":2950.52,"endTime":2952.5,"body":"well if they want a physical"},{"speaker":"Stanley Leong","startTime":2950.52,"endTime":2952.5,"body":"copy. It's only like four or"},{"speaker":"Stanley Leong","startTime":2952.5899999999997,"endTime":2956.3999999999996,"body":"five bucks. I just made it the"},{"speaker":"Stanley Leong","startTime":2952.5899999999997,"endTime":2956.3999999999996,"body":"cheapest possible, as well as a"},{"speaker":"Stanley Leong","startTime":2956.43,"endTime":2959.31,"body":"Kindle version if they prefer"},{"speaker":"Stanley Leong","startTime":2956.43,"endTime":2959.31,"body":"that. And then if they want to"},{"speaker":"Stanley Leong","startTime":2959.37,"endTime":2961.43,"body":"reach out to me, they can just"},{"speaker":"Stanley Leong","startTime":2959.37,"endTime":2961.43,"body":"reach me at"},{"speaker":"Stanley Leong","startTime":2961.5499999999997,"endTime":2966.1099999999997,"body":"stand@engineeringyourfinancesbook.com"},{"speaker":"Stanley Leong","startTime":2961.5499999999997,"endTime":2966.1099999999997,"body":"Happy to happy to answer any"},{"speaker":"Stanley Leong","startTime":2966.14,"endTime":2967.3999999999996,"body":"questions that anyone might"},{"speaker":"Stanley Leong","startTime":2966.14,"endTime":2967.3999999999996,"body":"have."},{"speaker":"Aaron Moncur","startTime":2968.33,"endTime":2970.7599999999998,"body":"Terrific! All"},{"speaker":"Aaron Moncur","startTime":2968.33,"endTime":2970.7599999999998,"body":"right. Well, Stanley, thank you"},{"speaker":"Aaron Moncur","startTime":2970.8199999999997,"endTime":2973.73,"body":"so much again for being with us"},{"speaker":"Aaron Moncur","startTime":2970.8199999999997,"endTime":2973.73,"body":"today. Really appreciate you"},{"speaker":"Aaron Moncur","startTime":2973.79,"endTime":2974.39,"body":"sharing all of this."},{"speaker":"Stanley Leong","startTime":2974.8999999999996,"endTime":2976.19,"body":"Yeah, thank you,"},{"speaker":"Stanley Leong","startTime":2974.8999999999996,"endTime":2976.19,"body":"Aaron. I had a lot of fun."},{"speaker":"Aaron Moncur","startTime":2978.68,"endTime":2982.3999999999996,"body":"I'm Aaron Moncur,"},{"speaker":"Aaron Moncur","startTime":2978.68,"endTime":2982.3999999999996,"body":"founder of Pipeline Design and"},{"speaker":"Aaron Moncur","startTime":2982.3999999999996,"endTime":2985.25,"body":"engineering. If you liked what"},{"speaker":"Aaron Moncur","startTime":2982.3999999999996,"endTime":2985.25,"body":"you heard today, please share"},{"speaker":"Aaron Moncur","startTime":2985.25,"endTime":2988.64,"body":"the episode. To learn how your"},{"speaker":"Aaron Moncur","startTime":2985.25,"endTime":2988.64,"body":"team can leverage our team's"},{"speaker":"Aaron Moncur","startTime":2988.64,"endTime":2992.27,"body":"expertise developing advanced"},{"speaker":"Aaron Moncur","startTime":2988.64,"endTime":2992.27,"body":"manufacturing processes,"},{"speaker":"Aaron Moncur","startTime":2992.27,"endTime":2995.96,"body":"automated machines, and custom"},{"speaker":"Aaron Moncur","startTime":2992.27,"endTime":2995.96,"body":"fixtures complemented with"},{"speaker":"Aaron Moncur","startTime":2995.96,"endTime":3002.365,"body":"product design and R\u0026D services,"},{"speaker":"Aaron Moncur","startTime":2995.96,"endTime":3002.365,"body":"visit us at teampipeline.us to"},{"speaker":"Aaron Moncur","startTime":3002.365,"endTime":3006.955,"body":"join a vibrant community of"},{"speaker":"Aaron Moncur","startTime":3002.365,"endTime":3006.955,"body":"engineers online, visit thewave."},{"speaker":"Aaron Moncur","startTime":3007.375,"endTime":3014.9049999999997,"body":"Engineer. Thank you for"},{"speaker":"Aaron Moncur","startTime":3007.375,"endTime":3014.9049999999997,"body":"listening."},{"speaker":"Aaron Moncur","startTime":3014.995,"endTime":3020.5449999999996,"body":"Being an engineer has more than"},{"speaker":"Aaron Moncur","startTime":3014.995,"endTime":3020.5449999999996,"body":"300 episodes, and you don't have"},{"speaker":"Aaron Moncur","startTime":3020.5449999999996,"endTime":3024.1749999999997,"body":"to listen to them in order. If"},{"speaker":"Aaron Moncur","startTime":3020.5449999999996,"endTime":3024.1749999999997,"body":"you're dealing with a specific"},{"speaker":"Aaron Moncur","startTime":3024.1749999999997,"endTime":3027.1299999999997,"body":"challenge right now, there's a"},{"speaker":"Aaron Moncur","startTime":3024.1749999999997,"endTime":3027.1299999999997,"body":"good chance we've already"},{"speaker":"Aaron Moncur","startTime":3027.1299999999997,"endTime":3030.31,"body":"interviewed an engineer who's"},{"speaker":"Aaron Moncur","startTime":3027.1299999999997,"endTime":3030.31,"body":"been through it. You can jump"},{"speaker":"Aaron Moncur","startTime":3030.31,"endTime":3033.94,"body":"around, search by topic, and"},{"speaker":"Aaron Moncur","startTime":3030.31,"endTime":3033.94,"body":"listen to what's most relevant"},{"speaker":"Aaron Moncur","startTime":3033.94,"endTime":3036.37,"body":"to you. See you on the next"},{"speaker":"Aaron Moncur","startTime":3033.94,"endTime":3036.37,"body":"episode."}]}