Balancing Short-Term and Long-Term Financial Goals

This Episode discusses the importance of balancing short-term and long-term financial goals. He covers identifying and prioritizing these goals, the trade-offs between them, and strategies to achieve them. He emphasizes values-driven planning, automating savings, and potentially hiring a professional for accountability and expertise. Practical advice on budgeting, debt management, and investment considerations are also provided to help listeners achieve financial stability and independence.

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Transcript

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And welcome back to the retire early retire now podcast. I'm your host hunter Kelly owner of Palm valley wealth management. And it has been a handful of weeks since we. I did our last episode, summer got busy. with onboarding some clients and, some family vacations and such, so, miss a few weeks, but we are back at it. And, I'm excited to kind of get these next few podcasts out, and go into the end of the year and hopefully. Get some good values. You guys, to help you, through your financial goals through the end of the year and they're on afterwards. So, thank you for continuing to listen. And hopefully some people have found the podcast while I took a break, but I'm excited about today's podcast because it is something that I find most, clients of mine and just friends in general, people that I talked to, find a hard time doing. And that is balancing your short term goals versus your. Long-term goals. And how to, how to, I guess, assess those trade-offs should I do something in the short term, that will affect the longterm and what does that all look like? And so, Today, we're going to talk about just that we're going to identify what a short-term versus long-term goal is, how to evaluate those. Trade-offs when you're making those decisions. And. And when is it appropriate to take one versus the other. give you some strategies on how to meet those goals. And then when should you consider hiring someone to help you meet those goals? and what would they do, whether that be accountability? Or actual, strategies and things to do to help me those goals. without further ado, we'll hop into it. If you liked this podcast. please leave a five-star review on your favorite podcasting app. Also, to help this thing, continue to grow and get back on track. go ahead and share this with a friend. I feel that this would be very applicable to most people because there is always, that dilemma. should I have a short-term purchase, like a vacation or, do certain things versus, planning for that longterm. And so I think this could be applicable to a lot of different people. So go ahead and share that with your friend. and then also there is a new feature. on my podcast, there's a link in the show notes where you can actually send me a message. if there's any financial questions that you may have, that you want or topics that you want to hear on a podcast, go ahead and reach out via that link. we'll be happy to answer those on future podcasts episodes. And, um, be a good way to kind of get to know you guys and, interact with you a little bit more. what is a long-term goal versus a short-term goal? Let's talk about the importance of balancing those short-term versus long-term goals. It can be playing a fine line. How do we live for now, but also make sure that we're financially stable later on. If I said, Hey, you can spend this money. Now you can go buy this. A hundred thousand dollar car or make this large purchase, buy this home, whatever. You may need to work 15, 20, more years to accommodate that. Was that trade-off worth it, or maybe you do make that purchase of that new car or that new house. and maybe you only have to work a year extra, or maybe it doesn't move the needle at all. As far as retirement. Or being financially independent. later on down the road. Well then maybe that trade-off is definitely worth making that purchase. Right. And so the first thing you want to do is, have some thoughts and discussions. If you have a spouse about what your values are, what are some things that you see yourself doing? and wanting to accomplish short-term and long-term right. And once you have those values, once you have those wants and needs, Then that will help you drive some of the goals that you're going to make. And so some of the values that I want, I want to be able to spend time with friends and family. mainly outside. So doing things outside, like going to the beach. barbecuing. I'm doing all kinds of things outside, going to sporting events. Hiking. Boating. All those things right. And so if I'm doing those things, if I'm, if I'm making my goals, my goals are going to be centered around. Making sure that I'm spending time with my family and friends, and then hopefully some of those hobbies and activities along with that. Right. And so that's how I start to. Shape my goals. And, and so what is a short-term goal versus a long-term goal? And so generally a short-term goal is anywhere from one to five years. Sometimes I'll break it down even further with clients and say, okay, well what's our six months to a year. And then what's our year to five years because. Sometimes the way you fund those goals can be, changed a little bit, whether that's just cash or getting into some sort of investments in that time period. And then once she gets to that five plus years, those are more longterm. And we can talk about how we would invest for that as well later on in the podcast. we want to make sure. That we say, okay, well, how long do we think it would take to fund this goal? and if, if, if that is less than five years, then let's start to consider that a more short-term goal. And if it is more than five years, we'll consider it a longterm goal. And so. That will allow you to start to, okay. Now, how do we start funding that goal? Right. And so, um, some examples of a short-term goal would be maybe a vacation within a year or two, or maybe, you know, you're going to take a vacation every year. And so we've got to figure out how we're going to cashflow that. Right. And so, uh, whether that's setting aside a certain amount each month, Uh, or taking a bonus and taking a percentage of that bonus, putting it into a savings account. And so when that vacation comes up, we can fund that. Maybe at some larger purchases for hobbies. so some of my hobbies would be like, hunting and golfing. things of that nature. I like to do some carpentry work and stuff. So whether that be tools, or stuff for my, uh, Bo whatever that case may be, those are larger purchases that maybe sometimes, uh, isn't just a normal cash flow from month to month. And so if I'm buying, let's say a new bow that is around$2,000 with everything that I need for it. Well, that may not be something I can cashflow in one month. So may say, okay, well, I'm gonna set aside$500 a month. And then once I get to my 2000. I will go ahead and purchase that boat, right. Or maybe, same thing with a vacation. We know the vacation's going to cost$5,000 and we're going to go there. And 10 months we'll set aside$500 a month. To be able to fund that once that, vacation comes around. other things of short term goals, maybe kids' activities. I just got my first taste of that. My son is starting T-ball here in a few weeks. and so we had to, pay for. the initiation fee or the season, if you will, and buy him a bat. Baseball helmet, glove, all of that. And so that was a few hundred dollars that. That we should plan for right. some examples of longterm purchases. Again, something that's going to take you five or plus years. So if you have a car that is relatively new, then you may not need a new car for the next five or 10 years. and so setting some money aside for that. Each month and we'll talk about how we would allocate that and what we would do with that money. But, that, that would be a more longterm, maybe purchasing a home later on down the road. If you have a growing family. Or there's a certain area that you want to live in that you're not living in now that would cost you a little bit more money. Whatever the case is, maybe you're renting and you need a down payment. retirement obviously is generally a longer-term goal, especially if you're thirties or forties or early fifties. That's going to be. More than five years, hopefully less. If you're a. Doing all the things that you need to do, you can sell retire early to become financially independent. But generally retirement is more a longterm goal. especially if you're a mid career professional. and then maybe starting a business, right? you have an idea of starting a business and it's going to take you three, four or five years to be able to fund it or get it all full time. and so these are some, some things that you can consider again, the biggest takeaway here is determined what your values are. and then start creating goals around that if you value, going on vacations. Well, we want to make sure that we have some short and longterm goals around going on vacations. If your. Values our education for your kids. And you want them to go to certain schools that maybe are private and costs more. Okay. We want to start making goals around that. And so how do we start funding those goals? Right. Obviously, both of them are important, both short-term and long-term. And this is something that I personally struggle with. and the vast majority of my clients and who I've worked with over almost the last decade. what they struggle with is how do we determine if the short-term goal or the short-term want that we have here is important enough to maybe sacrifice or have a trade-off or a long-term goal. and so. One. I probably sound like a broken record by now, but one is that short-term goal. That your values, right? if, if I get a wild hair and I see some cool new truck that I want to buy. does that really fit into me? Spending time with my friends and family outside? Probably not. Now if my truck is 10, 15 years old has got 250,000 miles on it. maybe I want to get a new truck or a, whatever I decide as needing a new truck. Right. we want to be able to, figure out those trade-offs life is short. Okay. And We, we want to focus on long-term. We want to be stable longterm, but also, we're not guaranteed tomorrow. And so doing some of those things in the short term, well, let us and allow us to experience more life and the things that we want to live live out. for me personally, and for a lot of my clients, Your kids also, won't be young forever. they're going to grow up, they're going to get into high school. They're going to go to college. You're going to be independent and they're going to do their own thing. Right. And so. If you value that time with your family and your kids? Well, taking some trade off to do more things with them. give them the life experiences that you want to, Concertedly be fulfilling and rewarding. but also there is trade off, right? the most common thing that I see is with these, people that want to, retire early and they're grinding it out and they're saving a significant amount of their income and things of that nature, they get burnt out, right. Because they're not. Taking those vacations they're working. either a ton of hours in their single job or they're taking on more side hustles or what have you to increase their income, which is awesome. Right. Um, Becoming financially independent is something most people or all people should strive to do. to better their situation and their family situation. But. The downside of that is getting burnt out, right? If your time horizon on becoming financially independent is 15 years or 20 years. And you think you're just gonna buzz through it. Well, one, you may not be as healthy as you were or mobile as you were 20 years ago. Once you get to that point. and two, it's just a mental where, Focusing on the short-term at least a little bit can help. alleviate some of that burnout. and I've, I've made a podcast on this before. but, burnout is a real thing and people, get burned out and where I see it most is just people, either working really hard in their profession or trying to become financially independent that. Th that fire movement, all a little bit, maybe too aggressive. and then they kind of fall off the wagon. It's kind of like hitting a diet really hard for a couple of weeks. And you're like, oh, I've been doing this so hard. You feel. Phil. Drain and emotionally drained. And then you go off the rails and you're off your diet and gain all the weight. Back that you were trying to lose, right? Now the side for, focusing on more. Long-term. You certainly want some stability. You don't want to get off the rails and spin everything and rack up a bunch of debt. Because then when you're 65, 70, 80 years old, you don't want to be working either. You want to. Spend time. With your, your kids and your grandkids and your friends. and things of that nature and there, you're not going to have enough energy to also work as well. And so we want to be able to balance. these two. Long-term and short-term goals, to fit our, again, our values and what we want out of life. Right. So just some examples of, what these. Kind of look like in real life. two of my clients, they're two couples they're kind of in their mid thirties. one works for a large insurance carrier. and as an upper management, And has. enough income to where they can save a significant amount of their income. They could probably save. Call it 20 to 30% of their income. And that would allow them to retire relatively early, somewhere between 50 and 55 years old. I've another client kind of a similar situation. Mid thirties. Or for a tech company, Their compensation is largely stock, but, that because of this, they just decide to save the stock. Um, and they could retire within the next, probably 15 years. Right. And so we've had long discussions, both of these couples. obviously separately, but I've had long discussions. There were both of them. And they both have different kind of wants and values. Right. The couple that. The husband works for the large insurance carrier. He wants to live and they, I guess they want to live a little bit more for now. He enjoys his job. He likes the, the flexibility they give him. He thinks he can work until 65 and it not be a big deal. They certainly want the flexibility. being financially independent, but if he has to work a little bit longer, that's okay. Right. And so we have. Design their financial plan to be able to do more vacations now. spend more time with his kids, things of that nature. Whereas they could easily take some of those funds and start saving more and retire earlier, but he says, Hey, I'll be bored. Like I like what I do. and I want to be able to live a little bit more now. On the other hand, my client that works for the big tech company. She. has a spouse that is probably about 10 years older than her. So he's in his mid forties. She is. and her. Early to mid thirties. And so they know that when, if she were to retire at 60. He's going to be quite a bit older as far as he'll be in a seventies. Right. And so she wants to start. Saving that money and continue to save that money. that's over and above her, her income, right. Or her expenses. And she wants to retire by the time she's about 45, right? And so that gives her about. Call it 12 years. of being able to save somewhere between 30 and 40% of her income. So basically they're there to couples. At the counter same situation, but are going to. be radically different because one wants to save and be able to retire significantly earlier. One wants to kind of enjoy that short term goal a bit more knowing the trade off is that. He'll have to work a little bit longer, right? life is all about those trade-offs and. Trying to find that delicate balance of. Well, do I. Save and only worry about long-term goals with the risk of potentially getting burnout, not being able to use this money. seeing all the time, unfortunately, maybe untalent death of a spouse or yourself and not getting able to reap the benefits of all of your hard work. Versus like going off the rails and spending everything you have now, and then not being financially stable later on in life and having to work and kind of being. A slave to your bad decisions early on in life. Right? We always want to give that a. a good thought about. How to, analyze those trade-offs. and. As I sound like for the second time, a broken record, we want to make sure it aligns with the values that we have and the goals that we want. Right. And so how do we identify. or achieve some of these short-term goals, right? So let's say I've determined. Hey, I need an emergency fund or maybe there's some debt I want to pay off within the next. One to two years or a vacation, whatever that short-term goal is, but I've determined I can do that. I can fund that within a short amount of time. What do I want to do with this? The biggest thing that I would recommend for people. if it's not paying off debt, if it's just funding some sort of larger expense vacation. some sort of, item for your hobbies. something for your kid, if it's just funding. Some sort of. Item like that, then I would say open up a bank account. especially right now, you can get a high yield savings count somewhere between four and 5%. as rates come down, it won't be as fruitful, but go ahead. get you high yield savings account. And. Automatically say, Hey. Okay. I have 12 month period. I need this much in this account. Divide that by 12. And start funding the, on that on the first of the 15, whatever date it is that you get paid and you can fund it. But make it. In a S make it away that it is very difficult to get to until you're ready to fund that particular, short term goal. Right. my primary bank. Is a credit union. But I use a saving accounts. I'm actually at my custodian. So that it's not easy to go swipe a card. and spend that money. I have to physically go to my custodian log on, send money. It takes a day to get there. So I have to really think about these purchases, right. do I really want to send this money over or is this money, logged for something else? So I would not count on any interest, obviously. It's nice that we're getting four to 5% interest on these accounts, but again, if you're in a money market and ready to start coming down, it's going to be a. That interest rate is going to start coming down as well. Right? The interest is nice. It'll help you get through goal potentially a little bit faster, but I would not count on that. I would just have that as an extra little added bonus. Right. And so that is how I would determine, or that's how I would achieve those short term goals. If it's an emergency Von. If I determine a, my three to six month, a good number for that is$10,000. And I want to do that in the next six months while I just to buy. 10,000 by six. And I want to open up a bank account where it's a little bit more difficult to get to and start transferring that money. automatically over, each month so that I don't even think about it. And so from there. the next thing you want to do is say, okay, well, How do I start funding these long-term goals? How do I fund retirement? How do I fund a house I want to buy in 10 years or this lavish vacation that we know that we want to take our anniversary for our 15, 15 year anniversary. That's 10 years away, whatever the case may be. Right. Well, here is where you want to start, thinking about investing, right? So everybody knows, or at least if you're listening to the podcast, you, you know about 401k's. IRAs things of that nature. So if it is retirement, we want to utilize those accounts because they have those tax advantages with a Roth. You're going to put that money in post tax, but it's going to road tax free. As long as you keep that money in for that five year period or until 59 and a half, all of that growth will be tax-free right. As you take it out. same thing with a 401k. Roth. Roth contribution to a 401k. And then obviously you have your pre-taxed, so eliminating some tax now, but you will have to pay a little bit of tax later, right? making sure you're taking care of that, but within those, you want to make sure. you're considering two things. You want to make sure that you consider, what your risk capacity is and what your risk tolerance is. Right. so your risk capacity is based off my financial situation. How much risk can I actually take without. Me jeopardizing these other goals or, or to being able to pay my bills, whatever the case is. And so let's go back to the short term. Right. If I want to go on a vacation that's$10,000. That's in 10 months. But I don't have an extra thousand dollars a month to be able to fund that. Well, then I either need to push back that vacation. Or I need to not go on that vacation because I can not cashflow that. Right. That's too much. Risk for what my financial situation allows. Whore. So let's go to the longterm and talk about risk capacity, right? Well, I want to fund either retirement or some sort of long-term goal. But I may need, because. my situation, maybe I need this money. potentially right. and this is not a great example, but kind of get the gist. so I may need that money. Well, I don't want to go all equities or put it in a position where I can easily lose 10, 15%. If my situation doesn't allow for that money to stay invested. And to recover and continue to grow. Right. And so if you don't have a proper emergency fund or a proper amount of income to where you can start taking risks into these investments, you want to make sure that your investments are maybe more conservative or you stay in cash until you can meet those needs. So for my longterm goals, I want to make sure that I have a proper emergency fund. And then we want to make sure. Okay, now we're starting to. be able to take a little bit more risk from a capacity standpoint, because my immediate needs are taken care of because I have an emergency fund or enough income. Or both. And then the next thing would be to consider risk tolerance. Right? So. If that market does go down 10% and your account value goes down a couple of thousand dollars or a few hundred thousand dollars, depending on the account balance. Right. Am I going to wake up at night and go, oh crap. I should not have. Invested that money, right? Or are you going to wake up or are you not going to wake up? And you're going to see the account balance where now it's like, oh, I guess I got Tom to recover because this goal is 15 years away. Right? So we have to consider. All of those things. both risk capacity. And risk tolerance when we're thinking about a long-term goals. And within that, once we determine that. Then we can start to determine, well, what is this portfolio actually going to return over the next five or 10, 15 years? Whenever we. need to, to reach that goal. And. If we need an 8% return or 12% return or 4% return, like what is reasonable? Or what do we need? And then what is reasonable? If we need a 22% return and a five-year period. Well, that may be way too much risk that we have to put on the table too. To achieve that goal. And so we either need to push back that goal. Or we need to save more. by pointing out of our cashflow. Or creating more income. Right. that's how you should deal with long-term goals. Right? Is okay. We need to get this money working for us. What's my capacity for that risk. What's my. What can I handle from a emotional standpoint? How am I going to keep this money, investment longterm? What do I actually need for a return on this money? And is that reasonable? And if it's not, how do I make it reasonable to save more? Do. Do I push it back? My timeline. What do I need to do right. some other strategies. to kind of get started on your goals, especially short term goals. I've made some podcasts about budgeting. So I'm a big proponent of pay yourself. First. Your money comes in. And you need to allocate that money. To one, your needs to, your long-term saving goals. And then three, your wants, right? And so once you pay yourself first, anything leftover, you can use at your discretion, whether that's getting to your goals faster or having some more discretionary income on a month or week to week basis. The biggest thing that I see that helps couples. or families budget. it's from a technology standpoint is getting a budgeting app. there's Monarch money, With mint going away. mana Mo money is a really good one. there are some adviser tools that you can use as well. If you're working with advisor like IE money or right. Capital. we have something called sci connect. And so you can budget with those, but the real thing that you want to see is where's my money going. The more you measure it, the more you're going to improve it. Right. With anything. If you're, If you're, on a. On a diet and another cliche example, if you're on a diet and you're measuring your calories and you're weighing yourself periodically, you're, you're may not be perfect that first couple of weeks, maybe even a. month, but over that time, you're going to get better and better. Okay. Maybe you're eating 2000 calories. Oh a day and you realize up I'm not losing any weight. I stay the same for the last two weeks. Well, maybe I bumped it down to 1800 calories. Oh, I'm starting to lose weight, right? And so where I bumped my, my activity up, maybe I run a little bit longer or left a little bit longer, whatever the case is. And so as long as you're tracking that budget, you're going to get better at it. You're going to see where you can cut some spending. and then also what a lot of people don't talk about is, is there a way, at least for these more longer term goals over a year, is there a way to increase my income, whether that's asking my boss for a raise. Finding another position. That's similar to my position at a different company, where they're just paying more. I'm going to get, more training. so that I have more capacity at my job. whether it be. the same company or a different company to be. able to do more roles, get more compensation. Starting your own company, whatever the case is, right. one thing I did not talk about, with these short term goals, yet, but I did want to mention. we need to make sure that we have a healthy debt to income ratio. So if you have. 30 40 50% of your income going through some sort of debt, whether that be mortgage auto loans, credit cards, student loans, things of that nature. You should certainly focus on getting that debt paid down. And there's a number of ways to be able to do that. Whether that'd be the snowball effect that Dave Ramsey talks about all the time. Or, the avalanche of a pay down method, whatever the case is, get that debt pay down because over your longterm, that trade off. It's certainly going to hinder your ability to be financially stable later on because you're not being able to save or use that money toward things that you want to you're paying the bank. and all of these other different credit card vendors and things for debt, when you should be saving that and doing the things that you want to do. So. Try to mitigate debt as much as possible. So. like I said, if you're. Upwards to that 30, 40, 50% of your income go into debt. Then you need to really consider, looking at that. Creating a plan to get. That number back down to below 30. and ideally, in the teens or to zero really. That is a common trend with all of my various successful or not even successful, but financially independent or financially stable clients. Is, especially the ones that have retired early. It, it never fails. Their debt is either very low or non-existent. And so if you can keep that debt low. you're going to be. on the way to being financially stable and doing, and be. able to balance some of these goals. short-term versus long-term goals. So the biggest pitfall that I see. outside of debt. is. Not automating savings. So with these short-term goals and long-term goals, there should be some sort of automation. 401k is make it really easy cause they payroll to duct out of your paycheck and it goes directly to that account. but with IRAs and brokerage accounts and savings accounts, you have to set that up. And if you're doing that manually every month, it can be very difficult, to remember to do. some people are very good at that. They're, they're very attention to detail. But I find that. if the savings is not on automated system, it doesn't get done. And so figure out a way to automate those savings, right? And so if it needs to go to a different bank account and you set it up as a bill pay, whatever you have to do. this will be a way to increase your chances of meeting those short-term and long-term goals. how do we. how do we. stay on track? Right. And so this is where you should start to consider maybe hiring someone or at least having some in-depth scheduled conversations with your spouse or someone. that you trust with talking about finances. so the first thing we want to do is obviously create a plan. And in that plan, obviously want to outline what our values are and then start to determine some goals. And from there, we want to say, okay, well, how are we going to meet those goals? And write all this down. You can type it into a computer printed out, but it's somewhere where you can see it. but make sure that you're going to. Think through these things, don't just think about it on a walk one day and then don't take any action, right. The biggest thing here is taking that first step. If you know that you need to save$500 a month to be able to do some sort of goal in the future, but you can only start with 50 start with 50. Take that action. The best time is yesterday. The second best time is today. Right? Take that action to start working toward those goals. And so write that down. And the biggest place that I see that people fell, and writing these things down. they don't have a plan to monitor. There. Their progress, right. And so I keep using the example of dieting. my self right now, I'm trying to lose weight so I can run a half marathon here, in November. right. What I'm doing, I'm tracking every day. I'm tracking my calories with what I eat. And I'm weighing myself every day. Right? And I don't necessarily care about the number on a day-to-day basis. I just want to see that I'm trending in the right direction each, each basically week. Right? And if I'm the same number over a two, three week period, well, then I'm not making progress. And so I need to tweak something. Right. And so same thing with your, your plan to reach these goals. And am I saving my$500 a month and I need to go on vacation and 10. 10. months to a year, whatever the case is. Right. Or can I. Potentially buy. this hunting year that I want, that's a little bit more expensive than I can cashflow in a few months. My putting money aside for that. Make sure that you have periodic times. for their short-term goals, I would check in more often because they're, they come up quick, you forget about it for a month or two. And that. And that. short term goal turns into a two year goal, a three year goal for your goal, right? with those more long-term goals, if it's automated, you can maybe check in once or twice a year. just to stay on track because those are going to fluctuate much more because you're probably investing into the market. Martin could be up one year down the next year. but hopefully over time and it's trending up right. This is where I think people should start considering hiring somebody. One, the biggest reason people hire someone like me is they don't know how to achieve some of these goals. Where do I get the highest yield savings accounts? Where do I start investing? is it the most tax efficient way to do that in my maximizing that. and then the second way, or the second reason is, they want accountability. They want to be able to meet with me or meet with an advisor. once, twice, three times a year to say, Hey, I'm on the right track. I'm covering all my bases. because I just don't think about it enough. And if I can keep a little bit of accountability. Well, then in two years, I'm going to be able to buy that house. Or in 10 years, I'm going to be able to retire or whatever their, their situation. calls for, right. And so, uh, if you have trouble tracking and progressing in these goals, or maybe. having the know-how. just because it's not your area of expertise to be able to. complete or achieve these goals. Then you should consider hiring someone, even if it costs you money. If you achieve that goal much faster or you, become financially independent sooner, or you just aren't able to achieve these goals and you wouldn't else otherwise be able to that without the help it's. Worth hiring somebody for, these types of situations. Right? We'll wrap this podcast up today. obviously we talked about the balance of those long-term versus short-term goals. we don't want to get caught with burnout. So we have to think about the short term, but also we want to be financially stable, in the long-term. Best way to do that as to determine your values. From their maker goals create a plan. And start to implement and track the progress of that plan so that you can create it. And if you need help with that, I would be more than happy to hop on a call with you. Just go to my website, which was recently redesigned. and it looks awesome. Explains my process. in a very easy to understand way how I work with clients, what that looks like. shout out to format agency here in Jacksonville, they did a. An awesome job on my website. Very, very excited about it. But, if you want that help to achieve these goals, go ahead and go to my website. Palm valley, wm.com. look at my process, see how I work schedule, call. It'd be happy to talk to you about that. and if, if it's just a 15, 20 minute call to answer some questions, that's awesome. if we can work together even better. so go ahead and do that if you want some help. And then if you liked this podcast, go ahead and share this with our friend and leave a five star review on your favorite podcasting app. And I'm excited about the next few weeks, getting back into podcasting. it's going to be awesome next couple of weeks and, wanting to add some value so that we can go into this end of the year, holiday season. with a bang and then start out 2025. even better than we were this year. So, uh, see in the next one. This podcast is for educational purposes only. It is not meant to be financial legal or investment advice. Do not make decisions solely based on this podcast, please. Uh, seek some professional. Uh, assistance one, considering your situation. Please consider Palm valley wealth management, but making those considerations.