The Market Hustle
Harnessing the power of compounding - Josh, Pierce, & Baafi - Ep. 10
You’ll never understand the true power of investing in the stock market (or the danger of debt) until you understand what compound interest is. You move through life differently once you deeply understand the compound effect.
You’ll never understand the true power of investing in the stock market (or the danger of debt) until you understand what compound interest is. You move through life differently once you deeply understand the compound effect.
Do you know what compound interest actually is? Because you'll never understand the true power of investing in the stock markets or the danger of debt until you understand exactly what compound interest is and how it works. Very simply, compound interest is your money making you more money. It's exactly what makes stock market investing so powerful, but the thing is it takes time to notice its impact. You can think of compound interest as a snowball rolling down a hill it starts very, very slow but ends big as time passes, and the ball continues to roll down the mountain.
Speaker 2:Investor people tend to underestimate the power of the compounding effect. They delay getting familiar with the basics of investing, thinking they'll just start later, when they make more money. But that's a huge mistake. Investing anything is always better than investing nothing, especially if you have time on your side. For example, saving $650 per month would make you a millionaire in about 128 years. However, investing $650 per month would make you a millionaire in about 27 years. That's the power of compounded growth. Money sitting in a bank is actually losing purchasing power due to inflation, which is making investing even more important to understand and take advantage of.
Speaker 2:The best part about the compound effect is that it works in every single area of life, not just investing. Every action you take today contributes to who you'll be in the future. In all of the past, daily actions that you take build on each other, effectively amplifying your results on a daily basis. That being said, today I have with me our two amazing co-hosts. Bafi is here all the way from New Jersey. Pierce is here from sunny Southern California. Welcome back to the podcast, both of you. How are you doing today?
Speaker 3:I'm doing well, man, I can't complain. It's 72 degrees outside today. We had some rain last week, so I mean it's just good getting back into the groove of things and having the sun out. I mean we pay so much in taxes and the sun tax, as people call it that I'm excited that it's a warm and backup and it's a beautiful day.
Speaker 2:Is that sun tax worth it? I'm curious.
Speaker 3:Yeah, I mean it absolutely is. And then in certain cases it's like okay, why am I living in California and why am I paying 40% in taxes? But it's just, there's caveats, but I think it's worth it personally, fair enough Makes sense.
Speaker 2:And Buffy how are you doing, my friend?
Speaker 4:Love it, Pierce. I'm kind of jealous, you know, because where I'm at it's a bit cloudy and rainy, unfortunately, so I guess the tax is worth it, huh.
Speaker 3:Right now, I'm looking at it 62 degrees. Tomorrow it is supposed to be 76.
Speaker 4:Beautiful, beautiful. Yeah, I'm doing good. It's been a great week getting through a lot of work as we kind of get ready for some exciting news coming up next month. With work, so busy time, but great happy to be here for the weekend. I'm excited to connect again and provide great value to everybody that's listening in. Hope you all had a good week as well. Awesome.
Speaker 2:Great to have both of you back. So the first question we're going to ask, just to kind of kick off this segment of the podcast. Well, first off, the theme of this podcast is going to be talking on compound interest. So the first question is how has your experience with the compound effect impacted your life? So, buffy Pierce, which one of you would like to go first? Buffy, you got this one, I'll take the next one.
Speaker 4:Sounds like a plan, let's do it, okay. So, man. So I've been investing for over 10 years and the impact that compound interest have had is insane, right, and in the beginning, when you're first starting out investing, you might have a few bucks here and there, and you hear about it all the time, right, almost like a, like an ancient kind of thing. That's something that just exists, that's far and out of reach, right, and so in the beginning, it was hard to kind of see it, because your money will go up only a little bit, because you have only a little bit of money in the account.
Speaker 4:But now, especially reflecting on 2023 and this year, I'm truly living what it looks like when you actually you know when they say your future self will thank the younger version of you, but the decisions you made back then, I'm living that today, right. So I started investing at the age of 20 and today at 30, because of compound interest and how much, you know, the money has grown over time I can look back and be like, wow, and it's actually shocking because now it compounds at an insane amount of rate where you know, on a weekly and sometimes monthly basis is really a whole paycheck that I would have ended up working with my physical time and energy and now the money just do that work for me without me actually doing much. So anybody out there I know it's. Sometimes it's difficult to wrap your head around it because a little bit abstract, right, you can't just touch it and feel it, but it is real, it does exist and it works for you on your behalf, as long as you remain consistent and focus on long term.
Speaker 3:Oh, very well said, dude.
Speaker 2:It does kind of sound like some sort of mystical force. You know it is very abstract, which is why I think some people have like a hard time kind of understanding how it works. But you know a lot of what I try to tell people is you know a lot of. I think a lot of people have a better way to understand it with like debts, unfortunately, but because a lot of people have debt, like one of the first experiences I had with compound interest was actually my first car. I had a Dodge Avenger and I remember, you know, because it's my first car, I didn't really have much credit. I had like a 10% APR rate on that car right. And I remember getting that first statement and seeing just like the amount of interest that was being charged and I was like, damn, this car company is bringing in all this money Like I first off I loaned the money to buy the car and then they're getting all this extra interest on top of that loan and of course I think the loan is like $10,000.
Speaker 2:So it was almost like a hundred bucks every month in interest and to me that was just like mind blowing, like I was like how are they getting this much money. Like these loan guys, they're just kind of chilling and they're getting like this, this crazy amount of interest every single month and then, of course, like that actually kind of motivated me to pay it off sooner because I'm like I don't want to be given them this extra interest every month, like I want to get rid of this loan so I can keep that money for me. So to me, like that's kind of how I ran into like understanding compound interest a little bit. I tend to be more of like a hands on learner, so like seeing that at that moment like starting to make some light bulbs go off in my head, you know. So I think that's like a good first step to like understand compound interest is.
Speaker 2:A lot of people can kind of probably relate to having some sort of debt and see in those statements of that interest just kind of tacking on every single month and then of course, like if you're only making minimum payments or like the minimum of what you're supposed to make, it's going to be harder to kind of get out of that debt hole. That's also kind of what makes debt a little bit intimidating. But that's kind of been my experience. What about you, pierce? How have you kind of seen compound interest impact your life?
Speaker 3:I haven't seen it too much yet. I mean, like, as you guys know, and hopefully everybody else knows, I've been investing now for a few years and so I haven't seen my money grow exponentially to the rate of, you know, people twice my age have. But what I have seen is that, like like Boffy saying, you know, I, you know, at the place that I work, it's like couple paychecks like every couple weeks, depending on how much you have invested. And so I'm forward thinking and I'm looking down 10 years from now, 15 years from now, and I'm like, okay, cool, like you know, there's simple online calculators for compound interest on. You know, okay, if I have this much invested and if I never invest another penny, how much money will I have? And so I like to use those for, you know, just to get my brain actuated with the numbers that I see.
Speaker 3:So, as of now, I haven't seen too much of the compounding effect, but in the years coming I'm assuming I'm going to see it, you know an exponential growth every single year and then year after year after year after year. So I'm excited to see that. But, like, as you know, as as you said, the debt thing, you know, most people see it with mortgages. Most people see it with home loans and you know. It's just one of those things to educate yourself about so you have more knowledge to be able to kill it in the stock market. Kill it, and especially in your retirement accounts. I mean, I think it's a big thing for people to see the compounding effect of like a Roth IRA or even or even like a 401k.
Speaker 3:I mean, I think it's pretty interesting to see.
Speaker 4:Yeah, absolutely, I think. It appears, I think you're so far ahead of the game, right, even though you're you're virtually young, but you have this incredible poise about you and you're approaching things with the for the right reasons and in the right way. So kudos to you.
Speaker 4:Keep that up and I think you know what many people can relate to compound interest, more so in the negatively as Josh just mentioned right, because that's super relatable.
Speaker 4:You know, I graduated with like $80,000 in student loans and then I went and bought a Mercedes Benz, so obviously I can't imagine what the APR was. That was like on that right, and so it's not that is a new or foreign concept. We're all already experiencing it, whether we have credit card card notes. It's just the fact that we don't. We haven't learned how to understand that it can actually work for us as opposed to against us, right, and so that's part of the, the mission of being able to run your personal finance like a business and like a bank, like Josh said. You know the car is sitting there and they just collecting so much money out of your pocket. It's like how do I reverse that right? And then I end up benefiting from my own hard work and being able to contribute more. So, josh, I like. I like what you stated there in terms of your first experience and encounter with it, because mine was very much the same.
Speaker 2:It was kicking my butt yeah, man, and you know, I've heard so many stories of like older people who have like these massive piles of student loan debt and like they've made like, let's say, I think there was this one lady I spoke to who she had like $20,000 of student loan debt that she took out like 20 years ago and she was just kind of making the minimum payments on it and she ended up, like you know, 20 years later, owing like 40 something thousand, like double the amount, and she had paid like 20 something thousand. So like if the interest was never kind of tacking on, like her student loans would have been paid off. But because of that compound effect it was working against her and because she wasn't making enough payments, like she was never able to get out of that that pile of debt, right. So like compound interest was kind of sucking her in. Like financially it was not a good position to be in because it was it was working not in her favor, right, like of course you can get on the other side of the transaction where you're benefiting from the compounding effects, but a lot of people, unfortunately, are on the other side where you know they take out a loan from a bank which is.
Speaker 2:You know, it's fine like I know, sometimes you got to do it but at the same time, you also have to realize that the reason why these banks are giving out loans, the reason why these banks are giving out loans to buy a car or for you to go to school or whatever it is, is because it's an asset to them, right, like they get paid for that, like they think of it as like an asset, like hey, I'm gonna give this person a $50,000 car loan. They're gonna be paying me 8%, 9% per year, like that's an 8% return on my money that I'm giving them, you know. So, like they think of it as an asset mindset, whereas a lot of people kind of have, like the consumer mindset around it. But I encourage you to kind of, if you, once you start to connect the dots on that end, I do want you to realize that you can get on the other side, right, like you don't have to just stay on the the debt side of it. You could actually get on the asset side of it.
Speaker 2:And luckily, in 2024, it's never been easier to do. With all the resources out there, with all of the technology out there. You know, it's never been easier to even set up a stock brokerage account to begin with, but at the very least, you know, I like to tell a lot of people because, like, some people come to me and say, like, hey, I have so much debt right now, I got like $20,000 of credit card debts but I want to invest. Should I? Should I invest still, or should I focus on paying down that debt?
Speaker 2:This is kind of like a topic that a lot of people are a little dilemma that people kind of get stuck in and like my thing is like, if you're, if you're interested on that debt is like over like 7%, even 6% odds are you're gonna, you're gonna have a much better time kind of focusing on paying that off and stopping it from compounding against you before you start jumping into the asset side. Right, because, like, every dollar you pay off of that debts is gonna stop compounding against you. Right, you're stopping every dollar you pay from working against you and then eventually you'll free up your income to where you can start making it work on the other side, as, an asset.
Speaker 4:That's a great take. That's a great take because that that debt, right, the rate on that debt is guaranteed, no matter what's happening in the economy, what's going on with your job, these companies and banks are going to expect that same compounding rate and you have to pay it. That's guaranteed, right. But putting your money in the market especially one doesn't know what they're actually really doing, it can be more detrimental than helpful, right? If the rate is 15%, and right now, credit average credit card interest rate on a credit card is like 25%, right, and so even if you make 15 to 24%, like last year, from the stock market, it basically cancels out. You still kind of sitting at zero, right? So there is a debate and I can I can see where it's difficult for people to decide which one over the other, and so, like, like Josh mentioned, if your debt rate is much higher or the compound effect of that percentage is going to be a huge problem, you're better all fighting that first, because once that's out of the way, guess what?
Speaker 3:you don't owe that money anymore and all that money can work for you now one of the one of the things that I think about with debt is you know, say you have multiple people that you owe money to, you want to try to pay off the smallest debts first because you want to owe less people money and over time like, say, if you have a mortgage, a car loan, credit card loans and let's just say the credit card loans 5000, the car loans 15,000, the home loans 100,000 you're gonna try to pay off the credit card loan first because you don't want.
Speaker 3:You want to owe less people money over time because compounding, you know, if you try to hit the big things, like the mortgage or the car loan or whatnot, it's gonna, it's gonna feel like you're not really, you know, dinting into anything. And so you know, if you pay off the smaller stuff first, it gives you more, you know, satisfaction and feel like that you're actually doing something, rather than hitting a hundred thousand dollar loan and putting, you know, 400 bucks against it every single month. That's gonna take an awful lot longer than $400 against a $5,000 dollar debt, you know. So I always advise people to pay off the smaller debts first, to owe less people money that's.
Speaker 2:That's a solid, solid take as well. I mean and just to top that off as well of what Pierce was saying it also gives you like those small early wins, which I think is super helpful for somebody who might be kind of intimidated by the financial world, especially if you end up in a situation where you just have a lot of debts. Like if you're sitting with piles of credit card debt, like you have six different credit cards, maybe you have some personal loans out there, like you can get pretty damn intimidating just like looking all at all that debt eye to eye. So you know, focusing on the smaller portion of it is definitely easier because you're gonna be able to tackle that and once you get rid of that first smaller debt, you're gonna get that early win right. It's gonna feel good and you're gonna see that you actually have the capability of paying it down. You're gonna see the progress.
Speaker 2:That's that's the big thing is like seeing the progress. Because when you're making those payments like the big debts, it especially if it has like a high interest rate it might feel like you're kind of treading water and not really making much progress. But the reason why a lot of people are kind of advocates of, like focusing on the smaller debt first before before the actual like higher interest rate, larger debt is because you're gonna get those small early wins and we're all human, right, like, none of us are robots unless, like you're this mathematical, you know genius and you, yeah, yeah, and you like truly understand compounding, then yeah, by all means, focus on the larger interest rate first.
Speaker 4:But for most people, like I think, because we are human, because we all have some sort of emotional connection to money, like focusing on that smaller portion of debt it's just gonna be easier to really start to get that momentum going yep, beautifully said, and you can also equate it similar to like working out right, if you're somebody who doesn't work out routinely and you're starting out, it's gonna be very difficult to bench press 400 pounds, right, and that's essentially your heavy debt with the higher interest. And so you start small and you work your way up. The small steps will give you great feelings, great energy. Part of it is checking the list off, right, so you get to cross that out, and already the moment you begin to do those things, you start to generate more ideas and more creative ways to actually pay off the debt or the remaining debts, and you can still enjoy and have fun at the same time, right. So it's similar to like lifting weights start small, work your way up and then you get that. You get in that momentum, that zone where it's like, okay, now you can really, kind of you know, stay in that grind mode and lift more and become stronger and better.
Speaker 4:In this case, obviously, is with your money and is gonna help with everything else. But, josh, I read an article this week and it stated that 66% of the population actually have zero understanding of compound interest, and it was shocking to see those numbers. And it's interesting because it's kind of in line with the percentages of people living paycheck to paycheck or have less than a thousand dollars in your savings, and so I know there's been a great initiative by some different states and trying to push more financial literacy. What does your take on that the fact that 66% of the population literally has no idea how compound interest is and it, in most cases, working against them right now and they have no clue?
Speaker 2:yeah, man, I mean, first off, it's kind of a bummer because it's it's hard to kind of move through life financially without understanding, like the compound effect in general, right, you know, especially when it comes to the debt part. Because if you're just kind of like out there, you know like, oh, some bank offered me a $10,000 personal loan and all I got to make is like $50 payments, like if that's the payment. You see, like you focus only on the payment, right, and I think that's what a lot of people do nowadays is they only look at the payment and they're just like, if I can make that monthly payment, cool, that's fine, right, but they don't really think about the interest rate, they don't really think of how that debt is compounding more against them, which means it's going to the interest that skit tack. The interest that gets tacked on is gonna also be causing more interest to tack on, right? So like, if you owe a hundred dollars in interest the next month, you'll probably owe like 104. The next month after that you'll probably owe like 120. The next month after that you probably owe like 140. You see, like it starts to like grow and grow and grow and as time goes on, the effect just gets more and more powerful to at a certain point it just gets to where you can basically never get out of the added temp. I, alright, and it's a powerful force, but we don't want to work in against you, we want to work in for you. Right, it's a powerful force.
Speaker 2:If you're, if you're buying assets, if you're investing in the stock market, your stocks are growing and that growth compounds, right, you're not necessarily getting like a set interest rates with the stock market. This is also a thing I've had people be a little confused on. So, like when you're investing in like the S&P 500, like, let's say, like a just simple index fund, yet you're not getting like a set interest rates, but you do get the compound effect through the growth of the stock. Right, because it's all percentages base. If you're getting 10% per year, that growth is going to grow on top the growth every single year. You know, I know it can sound a little bit again confusing, but it's super important to understand just how powerful this effect is. First off at making you money, but also just like costing you money, right, if you're not aware of the compound effect, then you're probably just going to sign any loan that they send your way without actually thinking about it. Right, and that's that's a.
Speaker 2:That's a dangerous mindset to fall into and I hope people take the time, the four, five, six hours just to dive into, like the concept of the compound interest, because understanding that is the the first levels, the prerequisite to actually getting your money to work in your favor, because if you don't ever understand how the compound effect works, you're never going to be interested in investing. Right, like a lot of people, I think I truly believe that that's probably one of the core reasons why people just kind of ride off the stock market. Or maybe they have like 300 bucks per month to invest, but they think it's not going to do anything, they think it's just going to be kind of. You know. They're like oh, what's the point? It's it's only $300 a month.
Speaker 2:But if they understood how compound interest works over five, ten, fifteen, twenty years, that would be that would quickly change right, their perspective on it would completely change and it would start to value every single dollar that they generated through their precious and their most valuable resource, which is their time, selling their time.
Speaker 2:They would start to value those resources that they're getting and they'd want to make sure that they spend that resource on things that actually bring them value, right, that they actually truly value. And not only that, just to top it off. You know, when you take on this debt, when you take on a loan, when you take on credit cards, whatever it is, you're essentially selling your future income to these banks for a fee, right? These banks are going to charge you a fee, like, not only are you selling your future income, but they're also going to charge you a fee in the form of compound interest. So keep that in mind. I really hope more people start to wake up to the just the importance of having basic money management skills, because it's needed now more than ever, especially with all the technology advancements we're having. And just like the, the, just the, the modern world, right, there's just so much complexity and there's so much things going on that are just causing everybody to just not really have a clear head.
Speaker 3:Like it's never been more important to get your finances in order and to have a basic understanding of money management skills and, of course, that that that ties into compound interest, I think also starting young and I don't just mean this with compound interest, but I mean this with just growing your knowledge around finance in general, on just how certain things work, on how compound interest works, how debt works, how there's good debt, how there's bad debt, how you can leverage both of them to your advantage. And I think starting young gives you the ability to also learn and you get to reap the benefit later, like starting young with investing or investing in your Roth IRA or whatever you know at 20 years old versus somebody who starts at 35 years old. The person at 20 years old can have a set amount and the person who's 35, they can invest five times more. You know, don't quote me on that but they can invest a bunch more and they will never have as much money as the person who started when they were 20 years old. So it's almost the thing of being able to start young gives you the ability to go so much further and you're going to be able to see that debt compound or not.
Speaker 3:The debt compound, but the money compound and it's going to be able to generate you, you know, a passive income in a sense, and so it's going to be able to pay for some of your days off. Or you know, hey, I don't want to go to work today, cool, well, thankfully I have my money compounding, so I don't have to go to work today. It gives you the luxury to pick and choose. You know, starting young is the best. That's my advice to everybody. If you know someone's around my age, I'm around 21 right now. So if you start around now, or even you know 25, 30, it doesn't matter really. When you start, you know you're going to be working until 65. And so you have that much time for your money to compound, and the earlier you start, the earlier you finish.
Speaker 4:Absolutely.
Speaker 4:It's so important that people do understand this concept because, you know, sometimes it's difficult. Like Josh said, you know sometimes the stock market seems complex and everything seems so convoluted. But one of the best ways and practical ways for anybody listening to kind of have a good gauge or practical way of looking at and seeing the power it really has is looking at a compound interest calculator, right, and with that you can plug in your age, you know the year you want to retire, the age you want to retire, and you can fill it all out. You can put the contribution amount that you're making whether it's $100 a month, $200 a month and you can see whether the 5% return over that duration, 10% return over the duration, what that looks like in terms of your entire portfolio amount, also the amount you contributed and the growth that you got on all of that. And, josh, I believe you have that on your actual website, right, it's a you know and that's a great tool and asset for everybody listening, because you can just go on a website and play with it, right?
Speaker 4:You can kind of play with the numbers and see what's possible for you and see how far you can get and what's really out there.
Speaker 4:It's incredible because I've worked with so many parents and one of the things that they don't recognize is that the moment they have a child, they can actually fund the child's retirement with less than $10,000. And that is all because of the power of compound interest. If your kid is between one and five or one and 10, simply manage to put $5,000 aside. Whether it's a quick side hustle, whether it's a tax refund, maybe you get a little extra bonus. Or maybe your company does great and you get a performance bonus. That would be great, right? Just put that in a basic index fund like VOO and let that money sit there for 30, 40 years. The kid's retirement is basically fully funded, or at least halfway funded, and all it did was just took a little bit of information and access. So take full advantage of these tools. Definitely check out Josh's website if you haven't, because there's a lot of great things on there that will help you not just with your financial journey but your life in general.
Speaker 2:Dude, and that's that. Right, there is generational wealth in the making. Right, like you setting up your kids at such an early age because they have so much time, right, if a kid's just born, they got 18 years before they even really start entering the world. So, like you can set them up to like be much more ahead of anybody their age, let alone even probably people in their 30s and 40s, because a lot of people just don't have, don't ever really start this investing journey because, a, maybe they just don't understand, they just don't have the resources. B, like I understand there's a lot of difficult situations out there.
Speaker 2:I'm empathetic to that, of course, and the thing that I have that because, like a lot of people maybe listening might say like, well, hey, what if somebody just doesn't have a lot of money or whatever, or maybe they're in like a tricky financial situation? Like, of course that's going to happen, right, like not everybody's going to be at the same level financially. But I want people to recognize that, like you can make improvements no matter what level you're at financially. Like maybe you can't invest $5,000 for your kid, that's fine, but even if you can invest like $10 a week, $20 a week, like anything is better than nothing. Right, anything is better than nothing. So of course you know I get that not everybody could do these crazy things.
Speaker 2:But just understanding the compound effect will help people realize that no matter where you're at financially, whether you have piles of debt, whether you have $50,000 of debt, your income's not super high, like you could still take advantage of the compound effect when it comes to paying down your debt. Or even just you know different areas of your life, which is going to kind of segue to the next question is what other areas have you guys noticed the compound effect at play? You know I touched on a little earlier. It could even be like education related, it could be work related, skill. You know there's so many different ways. The compound affects life, like us in life, and truly it affects every area of our life, even our relationships. But I'm curious to see, like if you guys have any like direct stories or just explanations of how the compound effect has impacted you in your life other than just investing in money.
Speaker 4:Nice, I'll do this one first, and then I'll go after.
Speaker 3:Well, I can't say that this is a personal affiliation for me, but mortgages, dude, I mean you know if you've got a 30 year note on your house and then you know, you see, you get they have interest calculated for stuff like this too. Like if you have a 30 year note on your house and you owe $400,000 and your monthly payments are $2,500, you get to see on how many months have you, how many months does it take to acquire 400 grand in the grand scheme, like, how much an interest does it actually make? And so it's like, let's say you bought a house for a million dollars, you got a loan for the 500 grand, and so you know you put 500 grand down, and so the look like you're going to end up paying probably 700 or 800 grand over the scheme of 30, 40, 30 years on that. And so I think that trying to pay down a house early like like Boffy just said, maybe the company did good this year, so you got, you know, a bonus, or maybe you've gotten early inheritance or an inheritance in some way. You know, whatever, the, whatever way that you're able to pay down the debts faster is just more money in your pocket for you, because the sooner you get it finished and you get it done is the less money that these billionaires are making. You know from these banks, these institutions, these institutional billionaires that they're making, and so it's just I find it's so much better for you.
Speaker 3:So it's like super interesting to find out how much is owed on a 30 year note versus a 15 year note and all these different things.
Speaker 3:You know, I'm planning to purchase a house in the next, you know, couple of years in my life, and so it's a very competitive market here in California, southern California, especially where I'm located, and so it's it's compounded monthly, like you guys are saying.
Speaker 3:So it's, it's these things that you know over time they just keep on getting grander and grander and grander. So this month deal of 2,500, next month will be 2,650 and so on and so forth. And that's people look at, like you said, is people look at okay, how much can I make the minimum payment? Except for making the maximum payments for the shorter, like shortest, amount of time, I think it's it's better for you over time to be able to do those things, but it's to each their own. I mean, it's just I understand hard situations come up and you know, oh, you guys have, you know, a medical bill that came up this month, so you're not able to maximize your contribution on how much you pay on your house. So, you know, just trying to pay it down as fast as you can, especially with mortgages, because those are huge numbers, right.
Speaker 2:Yeah, and even just to kind of add onto that up here, it's like I've heard a lot of like realtors and just like some loan people that I've talked with, making just one extra mortgage payment per year at the start of your, at the start of your 30 year mortgage can wipe off like four to five years off your off your loan. So like that that alone just shows you like how much, like how powerful those early, those early tracks at like making progress, whether it's paying down debt, whether it's investing in the stock market, like the time is literally the it's compound interest best friend, right? So if you think of the compound effect, compound effect and time like those, those go hand in hand. So like the more time you have to invest, the more powerful the effects going to be for your investments. And vice versa, the more time your debt is kind of locked into your name, the more time that debt has to grow into this massive pile of debt as well.
Speaker 2:And even Warren Buffett like most of Warren Buffett's wealth, I want to say, came after, like his 60th birthday. It's like Warren Buffett is this multi billionaire, like one of the richest people in the world, and most of his wealth didn't come to like after his, you know, after he was 60, right, so he he got. It took him some time to get to get wealthy, but it just. It just goes to show like how much, how powerful this, this effect is, and how much it just gets amplified as time goes on.
Speaker 4:Yeah, yup, perfectly said man, that's interesting. So, oh, man, in my life it's been crazy man, because you can't truly relate compound interest to everything that's going on in all areas of your life. So for me, one of the areas that's been very prevalent is in my personal development journey. You know, I started kind of looking to improve and upscale and learn more about these subject matters when I knew nothing about it and with one book at a time, one podcast at a time, you know, one social media page that actually is good to follow and is credible. I just began learning and so one thing leads to the other and it builds on top of each other, right? So that's one of the areas of experience. Compound interest, outside of, say, money related, is in my knowledge and development.
Speaker 4:Also, health, you know, physical health has been massive, which is interesting because, you know, I'm from Africa, I'm from Ghana, and so part of my diet is actually heavy starch, lots of carbs, a lot of meat Like I still eat meat, you know what I mean Really. But I've noted that over the years, as I've become older, each year I'm actually eating less meat over time, right, and kind of replacing that with more fiber, more grains, more protein and some of these other morning healthier options. So it doesn't mean you have to choose one over the other, but it's just in moderation and healthy balance. So also working out oh my gosh, that is so huge because, fortunately enough, I was a Division I student athlete and I played soccer and that kept me in great shape physically, mentally, emotionally and I was able to regulate much better and I see the benefits of it, even though I no longer play college Division I soccer. If you put me on the pitch I might have a good 10 minutes in me and then the check engine light is on and I need some WD-40. But it's been such an incredible experience that even though I don't operate or train at that same intense level it's benefit. At the age I'm at, I'm still reaping the benefits of all those hard training back there. So now I work out periodically just to stay healthy, stay active, and it's been a life changer.
Speaker 4:The next piece is really my professional work In terms of the business, acumen, being efficient, high level insights. When I first started the job I didn't know much. I didn't know much about the industry, all the technical aspects of it, everything, how to go about it, and so now I know more. And I know more because time have passed and with little increments, constantly learning, training, asking questions. That curiosity is such an important piece, so it's helped me develop very well. And so I'm not learning from scratch now, I'm learning from somewhere of like a higher or midway point, something like that.
Speaker 4:And then I also touch on relationships. Oh my gosh, that has been incredible. And so making time and prioritizing family time as we get older guess what? Our loved ones are also getting older, and so sometimes we don't have as much time as we think and there might be, in different states, different environments so we might assume that we have 10, 15 years with them, but in reality in some cases we might have only like 10 physical interactions with them, right, and so one of the things I learned over time is I've learned to communicate with my parents more, and that has actually brought us much closer as a family unit and I understand them more, you know, and some of the challenges they're facing and some of the things and you learn so much about them.
Speaker 4:Now me and my parents are like friends now. I mean not that we have a bad relationship or anything like that, it was never an issue. But as I got older and I just talked to them more, it's almost like we're just like cool friends, you know. So that's been nice. And then, in terms of my personal relationship with my partner, that's been a beautiful thing over the years, because I've learned to prioritize that and realize that this consistency is very important, just like in investing, just like in anything else. So I've learned to become more consistent, more aware, and our relationship has flourished and gotten better over time. Then, lastly, I will say travel.
Speaker 4:Yeah, okay, one of those things that, oh my goodness, there's nothing like it, right. It truly showed me that as human beings no matter where we're from, our background, our color, our gender you know how we identify ourselves we all truly want the same things. We're not different from one another at all, right, and so travel has helped and compounded my knowledge of different cultures, different foods, different religions, different backgrounds, why things are so complex and difficult to mesh, but yet there's beautifully respected in all these differences at the same time, right, it's like perfect, it's like a beautiful chaos, you know. And so traveling has been one of those things that has allowed me to learn so much and that just compounds over time. So I can relate to a lot of different things in different rooms, different topics, different backgrounds, and I think that's a beautiful thing. So anybody listening compound interest is very important. So keep that curiosity, never lose it. Yeah.
Speaker 2:And, I think, a quick follow up question on that. So like, would you say that a lot of the traveling, a lot of the relationship building, like you're sitting there investing your time, right, that's the currency you're using when it comes to thinking about this in the compound effect part of things? Absolutely, but I'm sure that alone has kind of helped improve your communication skills and with that, like people can feel that energy when you're investing time with them and then that makes them want to invest time back into your relationship, right. So like, oh yeah, it's a relationship together, like I'm sure that's been something you've seen.
Speaker 4:Oh, absolutely, you know, because it allows you to be present, and so when you're talking about subject matters and experiences that you all can relate to, it's so organic, right, and you can, you can, you can feel the energy, you can feel the vibe, you can see what's really happening and it's been an incredible experience. There's really nothing like it and we are all very much the same. It's so interesting when you, when you think about it and travel, you might think, oh okay, in India, you know, we kind of assume that whatever we see on TV, we see on social media, that's just how India is right, or Africa or you know wherever. But when you actually meet people and talk to people, you start to realize there are so many depths and layers and then you, you adopt some of those things that will help make you a better human being, not just for yourself, but just understand that we're all part of a bigger picture and that bigger picture is compounding and growing over time and it's doing its own thing. So it's been.
Speaker 4:Traveling is fun and I just love food. That's another area that my interest has definitely changed my life. I love it.
Speaker 2:Awesome stuff, man. And you know the cool thing like not only are you kind of not only can relationships be investments I wouldn't say this is a cool thing like not only can relationships be investments, but they can also be bills right.
Speaker 2:It's like just like, just like you have debt, and how debt can compound against you those relationships that can also compound against you if you're not careful. Oh yeah, you know this effect. You know and everybody intuitively knows that, right, everybody can feel that that's the case. So, like you can see that this, this effect, this compound effect, whatever you want to call it it's at work in every area of our life. It's at work with our relationships. It's at work with our money when it comes to investing, when it comes to debt. It's at work with our health. It's at work with your business, right. So one of the examples I wanted to give on how I have had a direct experience with compound effect other than investing the money is with my own business, right.
Speaker 2:But the market hustle I started the market hustle like five years ago. It was more of just kind of like a little hobby. It had just barely any followers, like a hundred people, right. And then you know the people that I was interacting with, like they started to tell their friends, their friends would come and start following my page. They would start to tell their friends, right, and then they would come and start following my page and then all those people would go tell their friends, right, so you could see how the momentum really starts to snowball, right? And now fast forward to 2024, the market hustle now. We just closed in on 895,000 followers on Instagram.
Speaker 2:We're starting this amazing podcast with the community, so I thank all of you for listening to this, joining us while we help educate people and just help learn together. Right, we're going to have so many guests on throughout future episodes. We can't wait to bring you all on just because it's fun. First off, it's fun and then, second off, that's how you're going to learn, right, that's how we're going to connect more dots in our own knowledge and compound our knowledge together, essentially, right. So, like, not only are we trying to help ourselves on the investing front, on the money front, but also on the business front and on the education front, because those are just as important. But yeah, I mean, it's pretty fascinating, like, once you kind of break it all down and again it can kind of seem kind of like this mystery force. A lot of people kind of just roll their eyes or maybe they just think it's not real.
Speaker 2:But try to look in the areas, like, I encourage you to sit down and just try to think through some areas in your current life where you can kind of see that compound effect in work or kind of work in your life. Maybe that's in fitness, maybe that's in your own job. Like work, have you kind of moved up the ladder? Have you built relationships at your work? Have you seen yourself kind of get more comfortable with the work you're doing?
Speaker 2:Right, like when you first like think about first when you first start a job I feel like everybody can relate this when you first start a job, you're kind of clueless. You have no clue what's going on. Right Like you don't know what you're doing. They're kind of teaching you, they're trying to give you some knowledge, and then you know it's kind of intimidating, right, nobody likes the first day of work very rarely.
Speaker 2:So, like, as you kind of go through that journey, you start to just start to learn more. Right, like, you start to understand how the job works, how the role works, and you start to connect with that. Right, that's your education. Your education is compounding in that role, your experience is compounding in that role. And then fast forward five years, maybe you're the manager of that department. Like, maybe you are teaching the people who are brand new, who are coming in here at level one, how to kind of grow into this role right, like that's a direct force of like how the compound effect could be working in your life.
Speaker 2:And again, yes, it applies to everything, including your investing your money, debts and anything else you can pretty much think of. It's almost always at work. So I guess that leads me to the next question for all of us. So let's say somebody came to you and they're just kind of struggling to understand the long-term effects or just kind of how the compound interest force works when it comes to the investing world. Like maybe they kind of understand a little bit, but like how would you maybe help them understand the importance of starting early? Is there any specific example you'd kind of give them? I'm curious kind of what you would tell this person if they came to you just wanting to understand why compound interest is important, kind of how it works and how they can better grasp it in their own life.
Speaker 3:I'd say there's just one example I saw online. If you guys, if everyone's familiar with Mitt Romney, he'd think he ran for the presidential election one time. His parents started him off with an actual Warioll Roth IRA when he was like 15 or something like that. I mean he was young, I mean he was below the age of 18. And so he actually I think it's probably still the top one, but he had one of the top Roth IRAs. I mean it was like worth valued at like $15 million, and so I'm sure you know there was maximized contributions and whatnot.
Speaker 3:But I'd like everyone to Google that fact and see how starting early gives you the ability to have an awful lot of money in your account by the time you're 65 years old, and so I'll pull this up for everybody.
Speaker 3:But I think that starting early is usually the best thing when it comes to anything. I mean whether you have a drinking problem and smoking problem, like the earlier you get to those issues, the earlier that you know you're able to resolve them. And so it's a super important thing that people underestimate, because it's like you guys are saying with your knowledge that the earlier you start learning about finances and how these things work by the time you know you're 35, 40 years old If you, if you're 21 right now, like I am, you will hopefully have an abundance of knowledge that you're able to curate and help people and, you know, make it make the right decisions and make them contribute to the right things and all this type of stuff. So I think starting early with Roth IRA, with paying down debts, with paying down really everything you know, just having a good mindset around it, is super important.
Speaker 2:I love that. I love that Bathi. What about you?
Speaker 4:Yeah. So first one, I actually kind of mentioned earlier when I spoke about the compound interest calculator. Right, that's just like the easiest, most practical way of visually seeing the financial changes of, or the financial impact that compound interest has. So that's one layer, which is, you know, people learn in various ways, so that's one good way that they can learn to understand it and be able to implement it.
Speaker 4:The other thing is, if you ever get a chance, definitely check out some of Warren Buffett's interviews, because when it comes to wisdom and knowledge of compound interest, I think he has some of the best analogies and ways of articulating it in a way that everybody can relate and connect to. And he gets asked questions by high level media folks you know whether it's CNBCs, you know business leaders so many people that I want to learn more and he has a beautiful way of making something that seems so abstract, such as compound interest and investing, relatable to every person. So definitely check some of those things out if you have time on YouTube. It's definitely worth the time. And then the third thing I would say and recommend for people is there is the book called Compound Effect. It's called the.
Speaker 4:Compound Effect.
Speaker 4:I don't remember the actual author of the book, but it is a brilliant book on describing the layers of compound effect and how it actually impacts everything in your life over the long term.
Speaker 4:So it covers the financial aspect of it, the health aspect of it, the knowledge piece, and it's so written in the way that everybody can read it and digest it right. There's not like financial jargon or things that you're going to look in, you're going to see in there and you're like, ah yeah, it's too much going on, I can't understand it. It's regular, everyday lingo and it's beautifully written. And then, lastly, I would say, surrounding yourself with a community of like-minded folks that are willing to learn, that are on that similar journey, or people that also have a little bit more understanding of the subject matter than you are Now. Obviously, if you're listening to this podcast, you are somebody who cares a great deal about your personal finance and just learning in general, and so continue listening, because you're going to continue getting a great amount of information and we're all here to help and improve lives, and I think these four suggestions are definitely going to compound your knowledge and information and skill set, especially when it comes to investing.
Speaker 2:Yeah, man, without a doubt, the compound effect book. I've read that back in like I want to say 2016. And I totally forgot about that, but that was a great read. I remember that's. I think that was kind of I could give some credit to that for sure with helping me better understand kind of that force and how, to me, that part of it, that book helped me connect the dots of like it's at work in every area of our life. It's not just this money.
Speaker 2:I think a lot of people can understand like maybe like a high yield savings account, like oh, I'm getting 4% interest every single year, it's probably easier to understand that part. But when it comes to like investing in the stock market, I think it gets a little bit more tricky to understand how that force is working. And to me, like if somebody came to me and was like just asking like hey, can you explain this? Like I get compound interest, but like these stocks aren't paying me interest, right, like I'm not getting like a set interest, and like my response would be well, first off, we have dividends. Dividends would be like one aspect to help people understand like how you're growing your wealth, right, like if a stock is paying like 3% every single year via dividend, you can start to kind of articulate like, okay, I could see how, if I'm throwing like $1,000 in the stock, how it's going to be paying me 3% every year. But I think the tricky part for a lot of people to understand is the growth of the stock right, and this is where the most powerful compound effect is in the stock market is from the actual growth of the stock, not the dividend. The dividend is nice because it's easy to kind of make projections of and you kind of see it right, like you see that interest hitting your account every quarter or whatever the stock's paying the dividend.
Speaker 2:But I'll tell you, for the growth right, the stock market has an amazing track record, especially the S&P 500. If you go back and just look at how it's done over the past like 100 years, it's returned a little over 10% per year. Right, and a lot of people will be like, okay, cool, so I can expect like, maybe like 10%. We could even do like 8% if we want to be more conservative with inflation and everything. So we can like estimate that maybe I could get 8% to 10% per year based on kind of the growth of the overall stock market and but they'd be like, okay, so like, do I just get that deposit in my account? Is that 8% to 10%, coming from 2% of my account? And the answer would be, of course, no. It's a little bit more complex than that and hopefully this will kind of help you guys understand.
Speaker 2:But the stock market grows when the economy grows, right. So as long as the economy is continuing to grow year after year, which it has for hundreds and hundreds of years, so will the stock market. And, of course, there's going to be years where the economy kind of gets ahead of itself. Maybe consumers are like out taking too much loans, maybe businesses are making kind of reckless investments, but eventually, you know, the business environment is a very it's a very cutthroat environment, first of all, but there's also a lot of sharp and intelligent people running these massive companies. Right, like, think of Apple, think of Amazon, think of Google. Right, these are some of the smartest individuals in the world working for these massive corporations that are providing an insane amount of value to everybody, not only the United States but around the world. Right Like, they're making products that are products and services that are impacting our life. Right, and the more that they grow these companies, the more products that they develop. Ai just is a new thing. Artificial intelligence Like this is brand new. Like artificial intelligence is going to grow the economy insanely.
Speaker 2:In my opinion, in the next 100 years, the economy is going to grow more than anybody can articulate because this is such a profound technology that's going to impact every area of business throughout the world. So, like, as you can see, like as these companies continue to provide more value to the world or go out there to solve a demand, right, if there's consumers, if there's people who have a demand for a certain product like maybe people want special types of coffee. Like maybe they want a different type of Starbucks. Like there's going to be a company that comes in and be like hey, we got to give them what they want so we can get money. Right, these companies are after the money and that's exactly where the compound interest part comes from, because as these companies grow, your stock price is going to grow. It's like that's the growth part. You're making money in the stock market. The compound effect is working with the stock growth. So, as long as these companies continue to grow, continue to expand their teams, continue to hire these intelligent people and solve these complex problems throughout the global economy. The stock market will continue to grow as well.
Speaker 2:So that's how I try to articulate it. I know it can be overwhelming. Hopefully that helps somebody who might be a little bit clueless on connecting these dots, but I do encourage you to spend some time to dive into maybe some books. The Compound Effect is a great book that Bafi mentioned to help understand this better, but there's so many different resources online as well. I can spend a couple hours. I'm going to spend two, five hours understanding this concept, because without understanding compounds, the compound interest and the compound effect in general, it's going to be very hard for you to stick to investing, especially when things start to get choppy. Because when things start to get choppy, when a recession hits and things start to seem uncertain, it's going to be harder to play that longer term game if you're not really knowing why you're doing it in the first place.
Speaker 4:Absolutely. I think it's so important that people also adopt a bit more of a patient type of mindset, delay gratification type of mindset, because with compound interest, the goal and the nature of it is not to double, triple your money overnight. It is something that happens over time and you will be surprised. In the first two, three years you might not see much happening, you might not look like anything is really going on, but I can promise you you stay with it. Over the next seven, five, 10 years you start to see major changes and the party really gets going once you cross that first 50K, 100k. Obviously not everybody's at that stage yet and that's fine. Anytime you contribute and make progress is a beautiful thing. If you cross a thousand, that's great. 5,000, 10,000, 50k, 100k, that's beautiful. And each time it compounds bigger and faster because you're dealing with percentages and volume and numbers, and so it's such an exciting thing.
Speaker 4:Once you get to a certain stage or you see your money double for the first time, even if it's $10, and it doubles to $20, it literally unlocks a whole different perspective in your mind and you're actually falling in love with compound interest, like you want to marry today and never break up forever, right, yup. Then you start thinking, oh my God, $10, 10 to $20. What if I put $100? It would have been $200. And the thousand would have been two and 10 would have been 20. So you subconsciously automatically start finding creative ways to benefit from it more and take advantage of it, because once you start benefiting from something and you get that good feeling about it and it's going well, nobody wants to stop a good feeling. So you just keep going. So be patient. It takes time, and wealth is not built overnight, because Rome wasn't built in one day and great things don't happen overnight either. So it's a process. So be patient with yourself. Couldn't agree more man.
Speaker 2:Well, to kind of finish up this podcast, I do have some homework for everybody. Before we give that, I want to see if either of you have some final thoughts.
Speaker 2:I know, baph, you just gave a great segue to this, that was awesome, but do either of you have some final thoughts to give our listeners who want to just better understand compound interest? I think we touched on a lot of angles and hopefully everybody listening found this podcast helpful at understanding this important concept. But yeah, baph your peers any final thoughts that you'd like to give the listeners before we give out the homework assignment?
Speaker 3:I do have one.
Speaker 3:I mean I wanted to touch on how Baph he was talking about delayed gratification.
Speaker 3:I mean, for people who aren't familiar with the topic, it's basically I want it now but I can get it later, and so it results to a lot of things in your life, Like if you're going out to eat with your friends and you would like to get a nice dinner with your friends but you're like, ok, well, I'll have plenty of time to hang out with my friends, and it's not to say that you shouldn't be able to enjoy yourself, but it's delaying the wants versus the needs, because I see many people get those confused, and so you want a nice car but you don't need a nice car, you want a big house, but you don't need a big house, and so adapting to the concept of being able to delay the wants versus the needs are super important, because I feel as if you need to invest and I feel as if you need to be able to do these things that compound like you guys were talking about building relationships and how all this stuff compounds, in your knowledge especially.
Speaker 3:And so I like how Boffy was touching on delayed gratification, how you can just if you're able to delay it just a little bit. You're able to grow it much more over the long term.
Speaker 2:Yeah, and ultimately, the big thing that we all need is our freedom to have control over life. That's the biggest need of them all. So when you get, exactly when you get these resources, when you get money into your account, you get to decide where you're going to put it. Where do you value? What do you value most? You're going to be spending your money on what you value most and again there's kind of an arc to this.
Speaker 2:You can enjoy life and invest in your future to control more of your life and buy your freedom. But if you're spending all of your money on credit cards, you can just kind of swipe it away, spending a lot more than you're making. Then you're basically telling the universe that you value debts and materialistic things over your own freedom. So that's something I would think about, because the best thing money can buy that I found is the freedom to do whatever the hell I want, to control where I want to live, to control what environments I'm in. That's the best thing. If you have to work because you got to pay the credit card bill, then it's harder to leave a job that you might not like, compared to if you've got $100,000 in the bank, If you have a couple $100,000 in assets, it's easier to hop to another job that you actually enjoy more than sitting in a toxic environment.
Speaker 3:Absolutely, absolutely.
Speaker 4:Yep, I agree, and I think what I would tell anybody take away wise in terms of learning about compound interest is to understand that where your focus goes, your money flows. So if you are focused on, say, exterior external validations or just accumulating or just acquiring more things because it makes you feel a certain way, that is where your money is going to go. Nobody's money goes where they're not looking. I mean, for example, I wish I wasn't looking at the Benz when I bought it back then. But where your focus goes, your money flows. And it's important to understand the duality of life and how these things operate.
Speaker 4:We already live in a compound interest life, as is. If we spend more money on drinks all the time, chances are we're going to spend more money on drinks all the time. If we spend more money on clothes, chances are the clothes we have, we're going to feel like it's not enough and we're going to spend more on that. So you already live in a compound interest life. So you're not bad at actually compound interest.
Speaker 4:The only challenge is the same energy you might be displaying or the same behaviors and habits that might not be giving you the results that you hope for. You just need to reroute a little bit of that right, because you can't change overnight. It takes time. You might be 20. It took you 20 years to be who you are today. That's, some of these things are not going to change over time. But learn to start rerouting a little bit and applying it to the other side, because you can have both of the goods and things you want to enjoy and you can still make sure that the future you is going to appreciate. And thank you for all the work you're doing today, because where you're going to be at 10 years from now, 20 years from now, is directly based on what you do today. Beautiful, said man.
Speaker 2:Beautiful said. Great way to top it off. I do want to say before I assign the homework because we've got some homework for you all I want you to if you could just do me a favor and leave a five-star review on the podcast platform you're using to listen to this podcast just to help us grow this community right. The more people we can help listen to this stuff, the more guests we can bring on to help everybody learn and grow and compound affect the podcast growth and also the knowledge that we bring on here. But, that being said, I want to thank you for being able to take this time to make video. 哥, going back to my previous direct project and also directly, thank you so much for your captured remarks and, as I talked in the Pre curse course, this course is really difficult because we're not doing things that-hereATHEAL. What if you were to focus on your services rather than taking a year off around it? Do that until you can put in the context-己 belief, if you can. Here's just enough for that. Let's see what that looks like. You need to make sure you finish it well so you'll be able to see if you want to invest like 50 bucks a month. You'll be able to see how that kind of turns out over 10 years or so. So step one either go to themarkethustlecom or go Google Nerd Wallet Compound Interest Calculator to pull up a compound interest calculator.
Speaker 2:Step two is to set an initial deposit. So this is going to be you're going to set what you currently have and if you don't have anything invested right now, you can just put zero. But if you have like a 401k or if you have a stock brokerage account, like, just put whatever you currently have as the initial deposit. And then step three is to set up how much you can invest on a monthly basis. So figure out how much you can invest. Again, investing anything is better than nothing. You can only invest like 50 bucks, 100 bucks, so be it, but just set what you can invest. And then step four it's also going to ask you for how long you want to make this projection for. So, like we're just going to do 10 years, so set it for 10 years.
Speaker 2:Step five is to set an estimated annual return. So the stock market, the S&P 500, has a pretty great track record of returning a little over 10% over the past 100 years. But if you want to make a little bit more of a conservative projection, use 8%. You know you could use 8%, 8% to 10% to leave some wiggle room. And then step six is to set the compound frequency to annually, because we're going to want to make that projection when it comes to investing the stock market. We're making the 8% to 10% based on an annual projection. And then, finally, you're going to tap that calculate button and you're going to see a number of what that consistent monthly investment will grow to, given that interest rates and the compounded effect of that annual interest rate. So it's going to be. It's a lot of fun once you actually start to understand how these calculators work, because this was like one of the first things, like playing around with the compound interest factor. Compound interest calculators actually really helped me digest and understand the power of long-term investing. So I encourage you to spend some time to just play around with the compound interest calculator and see how powerful those small investments that you make now grow over the next 10, 20, 30, 40 years.
Speaker 2:This has been an amazing podcast. I've really enjoyed it. Thank you, pierce and Buffy, for coming on. I really appreciate you being co-host and if there's anybody else who is interested in coming on to our podcast, to a future episode maybe, to share their story or share their insights. Send me a message on MarketHusel on Instagram. We have like a little form, like a guest form that we're putting out there, so we'd love to have more of you come on and share your stories because, again, that's how we're all going to grow and become better investors in the future. That being said, it's been a great podcast. Thank you for listening and I hope you all enjoy the rest of your day. Bye-bye.
Speaker 1:I'm a hustle hustle with that MarketHusel. I'm a hustle hustle with that MarketHusel Go.