Today I’m joined by Holly Morphew. She is a successful Financial Coach, Real Estate Investor and published author. Holly began teaching personal finance in 2006 as a service project with Rotary International. She received the prestigious “Rotarian of the Year” award in 2007/08 for her work in financial literacy. After a successful career in real estate and finance, Holly founded Financial Impact in 2016. Holly is recognized for her unique approach to money, which reinforces core values while creating wealth. Through workshops, courses, and masterminds, Holly has coached thousands to peace of mind and confidence with their money.

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Key Discussion Points:

  • Hiking Fourteeners and Finding Plane Crashes
  • Difference Between Financial Coach & Financial Advisor
  • Missing Link to Financial Education
  • Go To School, Be a W2 Earner, Consume Debt – NO!
  • Establishing a Lighthouse Fund
  • Consumer Debt is a KPI of Our Economy
  • Know the Highest/Best Use of Your Time/Income
  • Discover Your Impact Factor
  • Buying Rental Properties on Credit Cards?
  • Performing vs. Non-performing Debt
  • Pillars of Financial Independence
  • Seasons of Building Wealth

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Links mentioned in this episode:

Raw Transcript

[00:00:00] Hey, what’s up, everybody? My name is Jay Helms and I’m the founder of this podcast and movement known as the W2 Capitalist. So today’s episode, I’m joined by Holly more few. She is a financial coach, a real estate investor. Man, she’s got a lot of stuff going on. You can find more about her at financial impact. Com Now link to all of her Provos or social media profiles in the show notes. Holly shares a lot of great nuggets with us today. But I wanted to focus on three main points. Number one, seasons for building wealth. We also we’ve been talking about seasons for real estate investors and the deputy kabbalist mastermind talk about establishing a lighthouse fund will get into what that is a little bit. And then the third thing is pillars of financial independence. And Holly gets into what her pillars of financial independence that she uses to coach her, go to her students, but coaches her players on from a financial aspect. So that’s it. All right. Let’s get to work.

[00:01:12] You are a W2 capitalist. You are addressing the gap between your successful fulfilling W2 job and to building wealth for your family through real estate investing.

[00:01:23] You are ready to earn invest. Repeat. Welcome to the W2 Capitalist podcast. Now let’s get to work.

[00:01:32] Here’s your host, Jay Helms.

[00:01:46] I mean, so. Yeah, absolutely.

[00:01:49] So is on Facebook. It had to be Facebook.

[00:01:52] And the reason I say that is, you know, you hear this saying or I’ve heard it seems like the more I expand my circle of folks, the more I hear the same. But it’s basically you are some of the five people you’re around the most. Right. So I’m very much an introvert. Now I do very good. Behind a keyboard and in, you know, a camera. But I don’t I’m not very outgoing as far as going to meet new people. So social media is great for me. So I started just friending people who had like minded interests. And I think that’s how we got. Well, not think I know that’s how we got connected. Luckily, you accepted and then I saw your your book come out more or it’s about to come out. You posted something about which cover you’re against. Back on the cover, which I want to know which one you decided save. Isn’t that so? And that’s when I saw when I saw the title. I like this to be perfect guest to come on and talk. So make sure we talk about that. And just one quick couple of questions around it. So pressure. All right. And everything we just talked about is going to be included because I just wrote a hit record, so I’m OK.

[00:03:06] So I was doing my research on you.

[00:03:08] I’ve got one question. It was on your profile. You said you hike. I don’t know if I must say this. Right. Well, let me back up. Please tell me how to say your last name.

[00:03:19] More, few more. Few more. If you. It comes from Morpheus, the Greek god of sleeping and dreaming.

[00:03:26] That should be my last name. My wife would say, well, that that’s you. That’s more for you. OK. We’re just funny. So. Ah ah. w- capitalist group started when I started it. I wanted a mascot. I don’t really know what to go for as a mascot. So I thought, well, who’s the Greek god of wealth? Mm hmm. So we ended up with Pluto sess a little figurine. As much as my son says that, hey, that looks like you, daddy. I’m not a Greek God yet, but one day, one day, one day.

[00:03:58] But I was doing my research on you.

[00:03:59] And you you have something in there that says hike for to me. fourteeners. What is that?

[00:04:09] A 14-hour 48. Yeah. What’s what’s a 14 year fourteeners are Colorado’s highest mountains fourteen thousand feet high.

[00:04:18] I’m gonna say you there’s 14 of them or it’s an elevation thing though.

[00:04:22] So to put that into perspective, Mount Everest is twenty eight thousand feet. Well okay. Fucking KAGGWA is twenty three. So you know is pretty high. I mean once you get above tree line not. Every step is a slow step.

[00:04:38] Now what is the tree line was. What elevation is that.

[00:04:41] Eleven around ten. Eleven.

[00:04:44] So. I don’t know what the highest point in Florida is. It might be five hundred feet, which is where I’m at.

[00:04:52] Right. And you’re in Colorado, correct? Yep. So is there how many fourteeners are there in Colorado?

[00:05:00] Well, that’s a good question.

[00:05:03] But as was your goal is not just to hike the ones in Colorado. Right. It’s why.

[00:05:09] So my goal, my bucket list item, I’ve many of them, but one of them is to hike every mountain range in the world before I die.

[00:05:17] And where are you on that? Go.

[00:05:20] So I’ve hiked in Indonesia. I’ve hiked Machu Picchu high dollar over the U.S., hiked in Europe. Nice. So once you get out and start pinpointing all the Rangin, I get the pins.

[00:05:35] Yeah, I had that ambition too when I was in my early twenties.

[00:05:42] This is a more I don’t know, you know, I’m going here, but my buddy and I, we sat on a three day hike track, whatever you wanna call it. And we come up on the spot is in your state park in Alabama, which is the highest spot in Alabama. And it’s like thirty five hundred feet, OK. So but we were six miles in and we get to this clearing where there was a bunch of debris and whatnot. And turns out there was a plane crash the night before. We were the first two people to discover the plane crash and the people in it. It was a single engine Cessna plane. So my first time to ever see a dead body outside the funeral home in that shape. And I was like, I am scarred forever. I had nightmares for a long time. And that was the last time I actually went hiking. So I kind of took that as a sign as I don’t need to be in the woods anymore. So what a story.

[00:06:39] How long ago was that?

[00:06:40] That was about 20 years ago. Yeah. Yeah. Well. Anyway, we’re not here to talk about that.

[00:06:51] So. So you’re not connected on Facebook. You have a book coming out, it’s called Light about Mondays. I like DHT. Not like Miller Lite. You know, her rep lied about money. But what really come my was the busy professional’s guide to creating wealth and filling powerful in conflict when it comes to money, which I think is just a subject that I’m interested in. So when it comes out, I’m going to be looked on Amazon earlier and I thought it may be ready for presell already, but I didn’t see it. So unless I’m searching wrong, it’s not ready yet. Right.

[00:07:24] Yeah, you’re not. My goal was so I wrote this book in three months. I came back from a couple of conferences last year and just was on fire and had clarity like, you know, never before. And I’ve already written Master Your Money and Crushed Your Debt. And so I thought I’d put this book out, just an e-book, get it up on Amazon. But I really want to put out something awesome. And so now I have a couple of publishers that I’m talking with. So it will be out this year.

[00:07:55] You have to. So no date yet, but it is yet. But you’re already decided on the cover photo. OK. So for those of you listening.

[00:08:03] So Holly posted something on her Facebook page. Are Facebook personal Facebook page right about, hey, which cover should I choose? I voted for one, but which one did you end up going with? You may tell you which one I went with first. I thought that the one with the black dress looked very much more professional. Mm hmm. So that’s why I voted for that, given the title of the book. Yeah. Your faces tell me you didn’t go with that one.

[00:08:26] Now you’re right. I one. Yes. And actually, you know, you usually put your face on a book, right? I mean, some people do written books, so I don’t know. But the reason I did this is because it truly is my the culmination of the 13 years that I’ve been a financial coach. This is just a simple system. You follow it. You do it. You put the pieces in place and you build wealth. Every day you are either building wealth or you’re not. It doesn’t matter how much money you make. What matters is how much you keep and what you do with it. So I just decided I’m going to put all of this coaching like my whole coaching program is in this book.

[00:09:10] Nice. OK. So let’s talk about your coaching experience.

[00:09:15] Because I noticed on financial impact dot com, you’ve got a blog, you’ve got a lot of different stuff going on there. And I want to get into one your poster in a minute.

[00:09:22] But tell like I’ve never had a financial coach or a financial consultant or advisor, whatever the. And are are those interchangeable terms or know a financial coach or a financial consultant or a financial advisor or all those kind of interchangeable?

[00:09:38] I would say there’s a big difference between a financial coach and a financial advisor. And there is a financial advisor is the person you go to to help you invest the money that you already have. A financial coach is the person you go to to help you create wealth. This has been my my career long mission, if you will, is to help people understand that. You know, not everyone is born into wealth. And not everyone has a million dollar point that they can just shot financial advisers to, you know, put into different funds. There’s a there’s a process of creating wealth and that’s the missing link. And that’s why I started out teaching personal finance in 2006, because I didn’t get any financial education in school. I just one the lucky ones who grew up talking about money and real estate and business at the dinner table with my parents because they’re entrepreneurs and their parents were entrepreneurs. So I learned about money and then started teaching personal finance alongside my other entrepreneurial endeavors. Like investing in real estate. Like working with startup companies. Right.

[00:10:47] So by the way, you’re not the only one that was filled by whatever. I don’t know if his public or private school system. But, you know, it’s amazing.

[00:10:56] Even in the college level, how they don’t teach you how to budget. You know, personally. What? How to generate money. Right. It’s it’s almost like they’re. And I apologize. Now, my kids just got home and probably I hear small talk. What sounds like a small pterodactyl in the background. But it’s really my 2 year old daughter.

[00:11:19] But it’s amazing how in any level of school there is very little talk about here’s how you create personal wealth.

[00:11:27] Right. Because I guess if you look at the the instant the educational institution, it is driven. It is drive. I don’t know if you can hear it or not, but you can. I’m sorry. Driving education is driving people to get a job and go to work for the rest or life. Riding the sealer and be a consumer.

[00:11:48] Yes. And carry debt. I mean, the economy is set up so that we spend a lot of money on education. We get a job and we get approved for loans that keep us just on the edge of being indebted. Which, you know, debt can be used as a tool. So I’m very much in the middle of I don’t believe the debt is evil at all. You know, I believe that debt can be used to build wealth if it’s used responsibly. But, yeah, it you know, the system sort of is set up to.

[00:12:19] Keep wealth a secret and it’s just not wealth is for everyone.

[00:12:25] And so you started this coaching business in 2006, which would have been a really good time to do it except for what happened in the next couple of years. Right.

[00:12:36] So that had to be.

[00:12:40] I can’t imagine what you’re going through your mind, like what the heck does I think? I mean, how did that how did that affect your coaching business? Maybe it helped a lot. Right. Because people are in financial strain or, you know, nobody was really or at least nobody I a row with was really prepared for kind of what happened. But so talk to me a little bit about that. How did that affect you? Did it help? Did it hurt? What was was the idea there?

[00:13:03] Well, ultimately, it helped me. But in 2006, when I started teaching personal finance, I was teaching it through Rotary International. I actually proposed this idea that, you know, I said, look, why don’t I go to local high schools and start teaching kids who are getting ready to graduate from high school. About money, you know, and about what it means to get this degree and graduate with it. And what your entry level salary will be, what your life will be like and kind of start from the end and work backwards. Because what I found is that I bought my first house when I was almost twenty five years old. I built it. So I bought you know, I purchased it when I was twenty four. It was completed when I was twenty five. And I looked around and I wondered, why aren’t any of my friends doing this? Because it really was empowering for me. You know, I immediately got a couple of roommates. They were helping me pay my mortgage. And so at the time I had a job, you know, I had a full time job. I was working for a homebuilder. I worked in real estate for six years, the beginning of my career. And so when I started teaching personal finance, I was teaching it as a service project.

[00:14:11] So it was not a business yet. And that that workshop was wildly popular. I mean, I had parents of kids asking me, hey, when’s your next workshop? Maybe I can come in and sit on it. And I started thinking, oh, everyone needs financial education, not just young adults, but and even now I’m working with people in their 50s primarily and working with people in their thirties and forties. You know, they’re earning money. They just don’t know what to do to get ahead. You know, it’s about putting your dollars to its highest and best use. You know, and so no one’s teaching that. It’s getting better. You know, Colorado is one of the one of the first states to make financial education a part of curriculum, not a mandatory part of curriculum, but a part of curriculum. And so there are all these great organizations now like the Consumer Financial Protection Bureau that’s putting out some great financial education and lots of them. BFE is another great one. So our access to personal financial education now, you know, you just do a quick Google search and you can learn how to crush your debt and you know how to invest in real estate, but you have to really seek it out.

[00:15:20] Yeah. And how do you know out how to word this? But when I started this, basically, you know, connecting with you and other like minded folks, you know, just take social media, for example.

[00:15:34] What what’s in my feed today versus what it was a couple of years ago is tremendously different. Right. As is because of who it’s virtually hanging around with. So as you start to see and I’ve started seeing more investors and I’m thinking, man, has this road existed this entire time or mine just hitting it at the right time and it’s just blowing up. Right. From a real estate investing standpoint. And what I’m led to believe, it’s it’s always been there. Right. And it’s been one of these kind of secrets behind the door. But it’s also gaining some momentum. Not as much as I would like for to for my personal friends, because I’ll have conversations with them about what I’m doing from a real estate standpoint. And they’ll tell me how risky it is, you know. But they’re not knowledgeable about it. Right. But they’ll tell me how risky it is. And now they can’t see how I’m doing that. And, you know, while the ball but in the same conversation, they’re smiling and telling me about the about those stock market losses they just had last week and how they’re not doing good in that. But they’re smiling about it. And I’m like one. There is a there’s a disconnect somewhere. And I just can’t figure out what that is. So maybe it’s my presentation because ultimately I want them to get where where I’m at. Right. Or surpass where I’m at. What is this the whole mindset of.

[00:16:53] Got to get rich now. Right. So I don’t know, there’s just there’s something there that I can’t put my finger on. Anyway, what does a normal coaching session and maybe normals kind of too broad. But what does a normal coaching session with you look like?

[00:17:10] Like what can I expect if I said, hey, Holly and I need some financial coaching? Because I probably do because I’ve never had one, you know, and I don’t know what I don’t know. And. You mentioned conferences earlier, which I I realize we were both at Zinkhan last year. And anyway, so this year we’re trying to. It’s in D.C., right. So we have. Anytime I take a trip like that, we try to make it a family trip. But we’ll buy since September. We’ll have a four year old, a two year old and about a three month old by then.

[00:17:51] So exciting. I have a brother and a sister. So, you know, I come from a family of five adults.

[00:18:00] It was a glorious childhood. I’m very close to my brother and my sister.

[00:18:05] And we’re the oldest. Youngest in the middle. I’m the middle. OK. Yes. So I had a I have one older brother were 13 months apart. And we fought like cats and dogs growing up.

[00:18:18] So having a daughter has really opened my eyes even. You know, she’s just too. But like, I do not know what to do with raising a little girl. I don’t I don’t know what to do. So my wife is luckily and we don’t you know, she’s she had two older sisters. So she’s definitely stepping in, stepping up big time on that one. The other thing, too. We don’t know what the start one is that we have. We didn’t find out any of the kids. But I’m more anxious to find out now than.

[00:18:53] I don’t know why. Just selfishly, I wanted to be a little bored through it. But what does a coaching session. Would you look like? Right. And now let you know if I’m coming to think, OK, we’ve got to figure that out.

[00:19:07] But I just found out I. My panel was accepted. So I’m speaking this year. OK. Also, you have to come to my panel. Absolutely.

[00:19:15] So when you say a panel so it’s going to be you and a few other folks up there just fielding questions from the audience.

[00:19:21] Yeah. We’re talking about how to build a financial coaching business.

[00:19:25] Oh, OK. Which is a great place to do if it can’t, right?

[00:19:30] Yeah. You know, it’s interesting because I’m a pioneer. As far as as far as financial coaches go, when I first started doing this, I didn’t know what to call myself. And there was a lot of confusion around, you know, are you a financial advisor or are you a counselor? I actually have four certifications, so and none of them have the word coach in it. I just am a natural coach. I coach high school, high school, volleyball for 14 years. And that’s my style. You know, I really want to help people discover the truth that is already within themselves and help them tap into their potential. I mean, creating wealth is just a system. It really is need. Right. What is a coaching session like? So I offer two different programs. I offer a three month program with the option to continue on for three more months. And then we focus on that passive income, the additional income stream, whether someone has an online business or they want to start a business or they want to invest in real estate. So it’s all about, you know, once you accomplish those pillars of financial independence, then you move into. All right. Well, if you want to crush your debt even faster, build your Lighthouse Fund, which is what I call an emergency savings account. Even faster than how do you create additional income in your life that’s going to be sustainable. And ultimately, you know, my goal was always to not have to go to a job. But the thing about it is that I love the name of your podcast, Jay W-2 Capitalist, because this is what I teach when you have a job. It is your greatest responsibility to make the most of all of the benefits that you’re getting and to really know your numbers. You know what you’re bringing in? Know what you’re putting out and know what your goals are. Because if you know that, you know you want to, quote unquote, retire when you’re forty. By the way, I don’t even really like to use the word retire four times.

[00:21:23] But the farm is that it’s and it’s it’s not for our generation. There’s no way.

[00:21:30] Yeah. I mean, let’s talk about reality. Does anyone really think that a millennial graduating with the average thirty thousand dollars in credit card debt with a cut? You know, we know that income has flattened since the 1970s. It has. But the cost of living has gone up. The cost of education has gone up. Debt is on the rise. I mean, we’ve done, you know, basically three things to to account for that flattening income and rise and lifestyle. And that’s number one, women have joined the workforce. Number two, we’re working longer hours or multiple jobs. You’re right. Quote, unquote. And number three, we’re taking on more debt. And, you know, high consumer debt is a KPI of our economy. A key performing performance indicator. Yes. Of of a healthy economy. So if that doesn’t tell you anything, that when consumer debt goes up, the economy is healthy, is that really good for the little person who’s trying to get ahead and create wealth? Not necessarily. Yeah. So, you know, it just it comes down to knowing what is the highest and best use of every dollar that you’re earning every month, whether you have a full time job, a part time job, you’re an entrepreneur and your income is inconsistent. And then knocking out the pillars in a certain order. Right. So, I mean, first you’ve got to take care of yourself, the whole point of wealth and financial independence. Right. And that’s what I call retirement now. Financial independence, the ability to pay for your expenses with income you receive from sources other than a job. If a job isn’t, you know, a lot of people love their job. They love their car. I work with a lot of career driven leaders. These are, you know, people in the trades, doctors, engineers, attorneys, people who, you know, love their 9 to 5 and they’re going somewhere with it and it fulfills them. But. You know, if you’ve got a cap on your W-2 job of, say, I don’t know, 80, 90, 100 K, then what do you do to supplement that? And there are infinite ways to create money in your life in this economy.

[00:23:38] And it’s you know, that was one of the things that I struggle in and drove struggle with and drove me to create was basically a Facebook group which has led to the W-2 capitalist podcast that Facebook tongue-tied. The Facebook group is real estate investing for the W-2 employee.

[00:23:58] Right. And so that’s how this all kind of has evolved. But what I realized is that the financial goals that I’d set for myself and for my family, I wouldn’t be able to get with just the W-2 job. All right. And I was like, what else can I do? And we’d always been interested in real estate. And there’s a lot of material on how we got started on that stuff. But you are correct. And you keep mentioning Pillar’s, which is funny because in our W-2 CAPTUS Mastermind group, we’re going through the month, we’re recording us in the month of April. We’re going through the Temp Pillars of Wealth by Alex Becker, Alex Becker. Are you familiar with that book? Is that what you’re referencing? No.

[00:24:38] Ok. These are my pillars. Those are your pillars.

[00:24:41] So the pillars of wealth by Hollywood. More for you. Right. Right. So how many? Let’s talk about that for a minute. What are the different pillars that you see that someone needs to establish to be on the road to creating wealth? Right.

[00:24:57] Yeah. So the first thing that anyone should do to start creating wealth in their life is identify their impact factor. And your impact factor is the money you have left over after you pay your bills.

[00:25:12] That’s it. So first you’re going to add up your monthly income. Then you’re gonna add up your monthly expenses.

[00:25:20] Then you’re gonna subtract your expenses from your income and that’s the money that you have to work with. You know, and some people some people might have one hundred dollars. Others might have a thousand dollars. And then others might look at their expenses and see where they can trim expenses. Or look at their income and start thinking, huh? I really like my lifestyle as it is. I don’t want to trim any expenses, but I also want to create wealth. How do I do it? How you have to increase your income. And that’s where I mean, you know, you can do I call it short term quick cash, you know, in the next two to three months. Do something now that’s going to pay off big down the road.

[00:26:02] Yeah. So and there’s you know, one of the things, I guess misnomers it up pinned on myself when I started this journey was that whatever lane I choose to go into, it’s permanent.

[00:26:15] It’s not the case. Right. There are different seasons you’re going to go through like we’ll go through. Usually it’s around Christmas time, usually Q4. We will alter our saving habits to have a little bit better lifestyle. Right. We’ll take a little extra trail. We don’t necessarily budget because we went through a year and a half of extra injured budgeting. So I pretty much know when we go out to eat. That’s one of our biggest expenses when we go out to eat. How many times like if it’s Wednesday and we’ve hit that number already, already known back my you know how much each meal is going to cost. So I’m kind of doing that math. So I’m not necessarily budgeting, writing everything down or looking at MIT or anything like that. This calculator, all that. But I will mentally make note of it for a season and then we’ll get real strict and for a season we’ll be real strict and we’ll have this explosion of savings and then we’ll make another usually usually that leads up to another acquisition and other rental property. And then we’ll relax for a little bit. So it’s. Personally, I probably could be a little bit more disciplined in that, and I think that’s where a digital coach can help me, right, because I kind of imagine, like with it, when I think of a coach, I’m thinking of like a high school football coach who’s going to make sure you’re doing your workouts.

[00:27:36] Who’s gonna be running drills with you? Who’s going to come out and tell you what drills you need to run? And those sorts of things. And right now, I don’t have that. It’s it’s kind of been on myself and I’ve been probably a little bit more relaxed and normally for the last year or so. So when I found that out about your coaching business, again, this is really about me. It’s not necessarily try to promote Holly. It’s in her book, but it’s about how can do I need a financial coach? But so that’s. You mentioned something else, too, about coaching folks and how you discover. How did you word about what you want out of life? Not necessarily what you want. I think what triggered in my mind was your calling. Right. Is that you coach volleyball now. You’re coaching people in there. Find it in the out of Magine. The results you see when somebody does really good or when you just hear or see somebody following your advice. How rewarding that is. I’ve started doing that with our mastermind group, which has led to another job opportunity. I’m thinking right now that I’ve discovered about myself. I didn’t know this. I never really had a chance to coach. But I get a lot out of just helping other people and seeing them succeed. Is it self-serving, too? Because the more time I talk, talk to them about whatever they’re trying to do real estate wise, the more it’s just practice for me.

[00:29:04] Right. It’s just drills. So the other thing you talked about was debt can be a tool, which is not a very popular opinion amongst a lot of financial advisors. I know you’re not an adviser, your coach. Right. Don’t talk. Let’s talk about that, because I believe that, too. Now, I will say that I started before we dove into this real estate, investing pretty heavy. It’s gonna stay for time, but we’re not full time yet. We went through the baby steps of Dave Ramsey. You know, I think like six or seven, which he’s the ultimate no debt guy. Right. So we paid off all our debt. The only debt that we have now is our mortgages on our rental properties. And we still pay off everything every month. But we did it by still holding on to our credit cards because we have some cars that provides some really good rewards in. So I don’t subscribe to that part of his plan, but I don’t think we would be where we’re at if we wouldn’t have done several of those steps. So let’s talk about how debt can be used as a tool. What do you what how do you coach folks to to use debt as a tool?

[00:30:16] Yes. And I love that you’re talking about seasons, because wealth building does come down to seasons, especially for those who are working and building wealth alongside that. Right. As an example, Robert Kiyosaki, who wrote Rich Dad, Poor Dad, he actually bought his first real estate with credit cards for condos and used a credit card as a downpayment. Forty thousand dollars. Ten thousand dollars each. Then he paid it back right away. But here’s the thing. There’s a difference between nonperforming debt and debt that could potentially be performing. So what I mean by nonperforming debt.

[00:31:01] Hey, everybody, want to take a break from the action real quick and point you over to passive real estate investor academy. It’s one of our affiliate sponsors for the show. Any DICKERSON who leads up the academy there?

[00:31:11] I’ve met her. I met her at a conference last year, wanted to meet her cause she is actually on one of our post twelve sites. Every financial freedom seeker should know about the things that they’re doing, a good ag investments. I’m just amazed by. She had a very successful career. But also, I think last year, 2013, she was able to pull her parachute cord and become a corporate dropout and focus on real estate investing full time. So and by that I mean her partner now syndicating deals through their corporation. A good egg investment. And what I’m most impressed by these these ladies, what they’re doing is they close. I think it was around thirty five hundred doors last year. And now they’re teaching. They’ve launched this course pass, a real estate investor academy to teach people what it really means, become a passive real estate investor and working with syndicators.

[00:32:01] Whether you work with them or not helps you understand what a passive real estate investor is all about. So check them out. We have a specific link for you. You can find it at helms’ aria dot com slash p r e a. All right, let’s get back to it is like credit card debt.

[00:32:17] It’s high interest rate. You know, you used cards to buy things that go down in value or don’t have value over time, like food, gas, you know, plastic things from Target that you’re just gonna throw away the next day.

[00:32:33] Right. You know, that’s really the debt. That just is a you know, it can rack a budget and it can really be a detriment to building wealth. And I’m I’m a fan of Dave Ramsey. I I took his course way back in the day when I was in my early twenties. He’s one of the first people that I started listening to when it came to money. And then, of course, I started, you know, reading Tony Robbins and reading Robert Kiyosaki and then David Bach. And then, of course, there are hundreds of other really great financial authors out there.

[00:33:05] So as an example of using debt as a tool, you know, you might have, for example, a high lock. OK, now we cannot write off the interest he lost. So that’s kind of unfortunate.

[00:33:19] But it also can serve as a way to improve a property that you already own and potentially increase your rental rates or your cell price.

[00:33:33] And so, you know, you might spend 20 grand and be paying, say, let’s just call it 6 percent for a few months. But once the house is sold or the house is rented, you start paying that debt back right away and you’re paying debt back is always going to be the highest priority of your dollars unless it’s a ridiculously low EPR, because then you have to think cash is king.

[00:34:00] Yeah, I’m always going to be a time in your life when you need cash. And this is why. When I talk about the pillars of financial independence, I’m talking about taking your entire impact factor every single month.

[00:34:14] And yes, if you have high interest rate debt, the majority of that is going to be going towards crushing your debt and eliminating it. But at the same time, as any adult, you know, whether you have kids or you don’t have a car or you don’t you have assets or you don’t, you’re gonna need to take care of yourself and you’re going to need some money for something, whether it’s a medical bill, new car tires, hot water heater, whatever it is, you’re always going to need money.

[00:34:38] And so, you know, if you’re totally focused on just eliminating your debt and you have no savings, then you’re gonna have to always fall back on your debt. And so I want to help people get in the position where every single month are literally watching their assets grow because their impact factors on autopilot, their debts going away just like that. There’s they.

[00:35:00] And I recommend three savings accounts and there’s a reason for it. But those savings accounts are growing every single month. Retirement accounts, the ones that you need. And when I say you, everyone has a different financial situation. So you can’t just read a book and, you know, apply that structure to your personal finances because, you know, some people need life insurance. Some people don’t. You know, some people need a lot more savings than others because they have a higher risk lifestyle, you know, like the possibility of losing their job or injury or health. And so all of these should be accounted for when you’re on that path of building wealth and and building the pillars of financial independence. And really the pillars just come down to eliminating your nonperforming debt, building your savings. Saving for retirement in the right accounts and the right amount investing. You know, you’ve got to make your money grow and that’s it. You know, and then from there, it’s it’s about wealth building. Once you have those pillars in place in your accounts are growing every single month. You’re free. Yeah. And then all the money that was going towards Debt and Lighthouse Fund. Now you take that put that into your investment account.

[00:36:17] Maybe it’s a holding tank for a piece of real estate or holding tank for a business that you’re either bootstrapping yourself or you want to invest in or any of the other million investment opportunities that there are that you don’t know about unless you have a certain amount of social capital or just ingenuity and you want to go out there and look for opportunities.

[00:36:36] So you mentioned he Locke, which we’re going through the process right now of applying for a home equity line of credit for this house. That our primary residents. I don’t know if I want to do a home equity line of credit or do a cash out refinance, because I don’t. I love the idea of home equity line of credit, because it’s basically just a big credit card sitting there waiting for me to use it. Right. And not charge interest on anything that I haven’t used yet. But something you just said triggered or maybe I’m looking at this wrong because. And the reason why we’re applying now is I think within about twelve, 18 months, we’re going to see a little bit down downturn in the real estate market. My crystal ball is telling me. Right. So they’re going to be bigger opportunities for us to take advantage of if our house is victim of what I think is come in. I would rather go ahead and have that money available now or get it in place. So we’re kind of sit on some cash or cash equivalents. Right. You just said, you know, with a. You cannot claim the interest for a tax deduction on a cash out refinance. I would be able to do that. Right. So I don’t say which one you prefer, because I know I left a lot of variables out of the equation. I don’t have them yet. Right. We’re just now starting the process. But let’s just say I get a 6 percent walk or which is money I’m not going to use until I’m ready to buy something or I go ahead and do a cash out, refinance where I’m going to get a four and a half, maybe five percent was to say five because I think it’s more realistic, a 5 percent, 30 year fixed embolization loan. But I’m not going to use that money for probably another year, year and a half, which how do I determine what’s the best use of that money?

[00:38:18] That make sense and I know makes it makes up a lot of sense. It’s a great question to be asking, especially for a real estate investor. Right, because it’s about the use of your money today, leveraging power that you have of tomorrow. You know, I can’t give you an answer without knowing the full picture and knowing what you know, when those dollars are going to be used. But what I can say about a heel lock is that, you know, you get it and you don’t have to use it. And you can use money.

[00:38:47] You can use your he lock for lots of different in lots of different ways.

[00:38:52] If you do to cash out refi, then guaranteed you’re paying interest no matter what. And in the game of personal finance, you know, I get this question all the time. You know, Holly, is it better for me to put down my mortgage? Or use that extra money to invest in the market.

[00:39:09] Right. Because if you can get a return in the market above twelve percent and your mortgage rate, is it I don’t know, five or six percent. Well then you know, you have the potential to earn. Let’s just use the numbers, 6 percent on the loan and twelve percent on the potential returns. That’s a gain of 6 percent if you just lost it instead of pay down your your mortgage.

[00:39:31] But here’s the thing. Big but interest is Gharyan like guaranteed. You’re paying interest no matter what our returns. Guaranteed? No. The market can change at anytime. And that’s why I’m always looking for ways to insulate myself against the potential of the future risk. But also. Yeah. But also being mindful that at any point in time I want to buy a property. You know, there might be a great deal in Colorado and I want to be primed to purchase that, you know? You know, having cash is powerful.

[00:40:00] Cash is king. Right. So the answer to that question is depends. Right.

[00:40:05] Which is a lot of answer to a yes. Sorry, Jay.

[00:40:10] I fully expected that.

[00:40:11] And quite frankly, if you if you came out and you said, wow, I would do this and you’re very confident, your answer that I would kind of sit back and scratch my head, but I didn’t give her enough information for her to say this is what you should do. So it’s not that I was testing you. It just it sounded like that what I was doing of it made for that. Yeah.

[00:40:31] Now, that’s OK. When people ask me, you know, people will ask after I do talks or workshops, they’ll come up with a very specific question. Yeah. And my style is to ask a lot of questions because I need to understand all of the pieces and I need to understand where do you want to be in five years? Because, you know, for someone back in the day used to work with people who are more in a crisis, you know, like our businesses evolve over the years. Right. And so when I first started out when I first started my business, which I actually it became a business in 2012, I had people who would come to me who were negative each month. And so that meant that they were really in dire straits. And, you know, I had a gal who had 20 something thousand dollars of a maxed out credit card and I don’t know, 20 percent or something like that. And her interest rate adjusted from 10 to 20 percent while she was a librarian, you know, and she was not spending frivolously. She was living on the edge already and just, you know, manage her money, but then maxed out this card and then the rate went up. And then all of a sudden she was negative. So she came to me and, you know, she’s like, what do I do? And there was not any room in her budget to trim expenses. I mean, her budget was bare bones. And increasing her income is something that she just was not ready to look at doing.

[00:41:49] You know, all of her hours were at the library and she. That’s the life that she wanted to live. And so the option was to settle her debt. There are pros and cons to that. And, you know, we ended up settling that debt. Did it wreck her credit? Yes. And so I had to be very clear, knowing that if that’s the path that she chose to go down, that she wasn’t going to need to buy something in the next two to three to four years, because during those times she was going to need to rebuild her credit. So, you know, credit is just a moment in time. And if you look at it that way, then you have a lot more options available to you. And in the end, it was a really good decision for her. Now, that settlement is, you know, if it’s not off her credit yet, it’s pretty close to being off her credit. And she’s she was able to feed herself and get herself to work in the meantime. And that’s really what it comes down to is like money is great. Money is fun. Money makes our lives better. But ultimately, the job, the goal of a business or any, you know, any endeavor that you do its job is to put money into your personal bank account. So if you’re looking at investing in real estate because you think it’s cool. It is. It’s good earnings.

[00:42:55] Well, there’s bunch of other cool. And then there’s there’s parts of it are sexy, like the flip and the flipping guys.

[00:43:03] They’re pretty sexy. I’m not one of those folks. You know, I’m no boring. Hey, let’s buy prop us all into it for a few years and see what we want to do with it. But it is it’s it’s amazing how quickly you can build wealth by investing in the right piece.

[00:43:17] Real estate, the right piece of real estate. Well said. Yes, because there matters. You make money in real estate when you buy.

[00:43:24] You have to offer. I’m a firm believer that. And I had to get one under my belt. Was the first one that I didn’t do that. So I know you’re right.

[00:43:34] You know, you live with you learn. You do.

[00:43:36] Which was in 2006, by the way, when I bought that property. So you threw a lot at me there. And I’m trying to digest it because I didn’t take as many notice as I should have. You said something earlier about that. Jarred my memory. Talked to a guy last week. He’s introduced me to this infinite banking strategy. Yes. So I walked away from that conversation more confused than I went into it, because it’s like money just magically appears at nowhere. And I wanted to. So. With you being a financial coach, I was like, how do you know about this? Have you talked to folks? And when you coach people, do you tell them to do it? And for people who can’t see you right now, because I’ll put this on YouTube as well, your your smile just went from ear to ear. So apparently this is something you’re excited about. One way or the other. So. So tell me, what’s your thoughts on the incident? Because, you know, it’s a new concept. Right.

[00:44:28] It’s no, it’s not a new concept. Actually been around for a very long time. It’s just one of those secrets. OK. So that’s the way it is. Very complicated. So I’m a little hesitant to talk about it myself because I like to be the guinea pig in my business. And I don’t recommend things to clients unless I’ve tried them myself. And the theory behind Internet banking is along way.

[00:44:54] Are you sitting on an exercise ball? Yes. OK.

[00:44:58] I don’t know because you’re rolling back and forth, bouncing ideas like what does she do? I know I’m sitting. I just wanted to know what was going on. I was like, there’s there’s got to be something going on. So that’s.

[00:45:11] That’s how my one works. So you’re going to get the core workout while we’re having this conversation.

[00:45:15] Like half the day I’m on the ball and half the day I’m in a chair and sometimes I’m on the floor and I’m all over the place.

[00:45:22] Well, you’ve got to keep the core strong for those 14 or try that.

[00:45:25] That’s right. That’s right. So back to get back on point here. I do that a lot.

[00:45:32] Infant banking strategy you were talking about. You want to be the guinea pig, but you’re really excited about this concept.

[00:45:39] Yes. And so I’m I’m kind of hesitant to talk about it. I’m not I’m not even sure if I want you to air this portion of it, because I can’t really educate in an educated way. Give people the nuts and bolts of how Internet banking works. But my understanding of it is how much detail.

[00:45:53] Let’s just let’s just talk about why you’re excited about it.

[00:45:56] Well, in the end, with Internet banking, you end up with a pile of money to use. However you want. And it is secured with a life insurance policy and a big life insurance policy like six, seven hundred, eight hundred, maybe a million dollars. And the way to get to that point, to have a cash value life insurance policy that is that big is through ahí law are all even of that.

[00:46:23] I don’t want to I don’t want to put you in any kind of trouble or get myself in trouble. I think what my lawyer likes to say wants me to say is this conversation is for entertainment purposes only, seek out financial advisers and legal profession for you. Anything that you may say we implied on this podcast. All right. So I know we’re up on time, but I want to dive into this blog post. You recently put out there on financial and was the unique challenges high earners face. You’ve got five points on there. Number one was you’re good at making money but not managing it. Number two is you have cash flow but no assets. It’s amazing. You don’t know where your money is going. And before is you’re paying too much in taxes. Number five, you don’t have a plan, a strategy or system. So I want to touch on number two, four and five. OK. But before we do that, let’s put some parameters around what is a high earner monetary wise. What do you what do you consider a higher? Is it a six figures, a small six figure person? The sum? What’s what’s that number generally?

[00:47:30] One hundred K in up. I mean, really, a high earners is gonna be someone who’s makan, you know. Yeah. Six figures in up. Or is it really so?

[00:47:41] I mean, I work with people who are making 250, three, four hundred five hundred thousand dollars a year and they’re literally paycheck to paycheck.

[00:47:50] Which is amazing to me, but I think it’s all relative, right? As far as I think it goes, I think a lot of it goes back to that financial education. Right. Because you and I are no different than them. As far as how much education we got when we were growing, we received I mean, we were I hate the word guy. I don’t know why. So every time I say but I say it frequent, I try to frame us up. But the thing is that when we talk, we beat that dead horse. I mean, there is no financial education in the US educational system. So it when I hear that, it doesn’t shock me as much. Now, for everybody else who’s for a lot of other folks, that can be like, wow, that, you know, there are there because what they’re doing is they’re in the back of their mind, or at least I used to do this, too, is they take their salary and they put in that multiple of whatever that number is. Right. Well, somebody is making 500 thousand. They’re making paycheck to paycheck. And I’m only making fifty thousand. How is somebody who makes ten times more. Yeah, that. That’s right. I didn’t get second grade math. Right. How is somebody who’s making ten times more than me living paycheck to paycheck. You know, they do that math, but there’s a lot of variables in there that they don’t don’t go over. So I want to focus on the cash flow. But no assets. Right. So the definition of an asset is something that generates money for you. Right. Do you consider your primary house an asset?

[00:49:24] Absolutely I do, because my primary house is an asset. I actually short term rent. I live in a huge house and I turn my basement into a bungalow. Then the second and third floor I do air BMB also.

[00:49:39] Ok.

[00:49:40] But but I’m going to caveat that and say if I lived in my whole house and I didn’t earn any income from it and I live here by myself, it would be a liability. Absolutely.

[00:49:51] Because that’s just money out with interest every month.

[00:49:57] And so I’ve had this discussion several times and we you know, we’ll buy a house. This is our third kind of live in Flip Nobs student. It is our second live and flip the previous house where we just time the market. Right. And we walked away. We own the house for three years. We put maybe ten grand into it. And we walked away with a little over a hundred thousand in equity. Now, when I tell people that story, they’re like, well, your house was definitely an asset. Well, I agree in that scenario, but it’s not. Your primary residence is not necessarily. Always an asset. Right. So do you agree you like that? And I left a bunch of variables out there of what our mortgage was, what our tax deduction was on our mortgage and all that. But do you agree in that scenario where we own a house for a few years, we would put the minimum downpayment down? Right. We put minimum improvements in and we walk away with a hundred thousand. Is that considered an asset?

[00:51:01] Yes. Yeah, I live in Flip. I like your lingo. You know, this is how my family has built our real estate portfolio, you know?

[00:51:11] So when you say empire, because then I would say this is an empire to me, it’s an empire to some. It’s a huge empire. And then to others, it’s like, oh, you know, you only have 16 in your family. Well, we’ve got 50. Yeah. Yeah. So what is an empire?

[00:51:29] I don’t know. I don’t know.

[00:51:32] All I’m saying is 15 is a lot to manage.

[00:51:35] Yeah. Do you manage to manage them yourself? We have a whole team. OK. Yeah. I don’t you know, one of the things that I stress in the two capitals is you outsource what you can outsource. You don’t need to be taking the calls for toll repairs and stuff like that. You need to focus on your job being greater, your job, and then focus on taking that money and putting it to work for you. Right. Earn, invest. Repeat is our mantra that we try to work.

[00:52:03] And you know what you’re talking about there, too. You know, it also comes down the highest and best use of your time. And really, this is part of what I’m coaching people is to really consider like, where are you going to be the most valuable on a day to day basis in terms of making money?

[00:52:20] You know, like I call it your moneymaker. Like for me, my money maker is my brain. Yeah.

[00:52:27] But for some people, it is their brain, too.

[00:52:30] For others, it could be some other part of their body. I don’t know.

[00:52:33] Hey, that’s right. I was going to say it could be your hands. It could be something else. It could be the resources in your life that could be bigger.

[00:52:42] And so there’s always the question of and this is what we don’t learn in the world in society is to really take back control of. What kind of life do I want to be living? And then how can I best spend my time and my money to create that life? It’s all about the lifestyle design. And no, like there is no reason that you should be fixing a toilet when you can be looking for deals.

[00:53:09] Yeah. Yeah. An hour. So I’m gonna throw myself under the bus a little bit because we it’s our live in flip. Right. And I put baseboard sound in this tire first for we redid the entire first floor but I put the baseboards down and it took me a couple weekends. I’m to leave it at a couple. Reality was probably four or five. Yeah, but there is something about this. You know, it’s not a monetary thing. It was, hey, I need to do some mind numbing work. Your phones in. Listen to some podcast and just. You know, no deadline. I just kind of need to work with my hands for a little bit. And so. So I was telling the group master my members that I was doing that and they were like, is that really you’re you know, they’re giving them our time. They’re like, is that the best use of your time? And I was like, right now it is, because it’s a big stress reliever for me. Right. I’m doing more on my hands. I’m probably cutting my fingers off. You know, it’s because I’m clumsy.

[00:54:08] And when sols are involved, it gets it gets bloody. But, yeah, I definitely draw you outsource what you can. But there are those times where you have you know, there’s it’s more than just money. Right. The number four thing. And I’m by the way, I may title this show. Something about money maker. I had to go back in and listen. How you. Maybe it’s use your moneymaker to build a real estate empire. I don’t know. All over you let us. But number four on that blog post was paying too much in taxes. You had a spot on there about a Roth IRAs, which I don’t participate in right now. And I know you’re probably gonna get on to me for that. But how much should a real estate investor who somebody. No, it’s all relative. But what does a target? Tax, I mean, not the tax bracket, but as far as you get your taxes back there, say, OK, here’s how much you were actually taxed last year. What is a target that you or is there a target you focus for for your players, right?

[00:55:18] Well, I mean.

[00:55:21] As low as you can go, right, you’re going to pay the least amount of taxes that you possibly can.

[00:55:26] I didn’t finish that coalition legally. You to do that. But what is the lowest you tried to get? To not raise an audit flag?

[00:55:34] Well, I don’t get into that at all at my CPA. All I even my CPA does all that for me, too. OK.

[00:55:41] It’s always honest for me. I never want to do anything that I’m gonna have to look over my shoulder and wonder if it was okay.

[00:55:49] And when it comes to being an entrepreneur, being a real estate investor, there’s a lot of gray in terms of what you can and can’t write off.

[00:55:56] So I would say that you want to work with a really good CPA who understands your situation. And when it comes to retirement accounts, you know, like a Roth versus the traditional versus maybe you’ve got a W-2 job and you’ve also got a four one K and you’ve got a Roth option on that, too.

[00:56:11] So again, there’s no blanket like you should have a Roth because sometimes in the chapters of the chapters of your life, the ebb and flow of building really building wealth and, you know, potentially buying real estate and making it grow. There’s an investing period of your life where you’re pouring money and maybe time into those investments and you’re having to hold on to every dollar that you have right now. Right? Right. Seasons. And then there are times when you’re just totally flash and the money is coming in and, you know, you’re pondering your next move and you’re trying to figure out, well, OK, how can I reduce my taxable income?

[00:56:53] So.

[00:56:55] So my feeling about the Roffe and the traditional IRA is and I’ve looked at all the numbers, I talked to a ton of financial advisors about this, have both had the option to do both because some years you might want to reduce your taxable income. In other years you might just want to knock out, you know, put six grand into your Roth knowing this is what I love about the Roth, you know that no matter what, you can pull that money out when you reach retirement age tax free.

[00:57:25] Yeah, that is huge.

[00:57:28] That’s a big, big step. That’s probably why, like, I do the minimum for our form. Okay. Just to get the match right. Because to me, that’s just money. If you don’t do that, it’s just money. I mean, that’s house money, right? Or you’re crazy. But I don’t do the Roth because I don’t want to wait until I’m fifty nine and a half or whatever the regulation is going to be at that time to get access to that money. So that’s that’s the season that I’m in right now. Right. We’ll see if that changes. And I totally forgot was say is going to pick on it for a minute. Oh, you said there’s no blanket for Roth r.j.’s. And this is how my brain works. Immediately I thought, hey, that would be a great marketing thing for Snuggie. The the blanket. This also. I don’t know. Do you know Snuggies? Oh, yeah. So if they just had this is the blanket for a Roth IRA. I’m a dork.

[00:58:27] Anyway, the night. Yeah.

[00:58:32] So the last or the number five bullet point on that blog post was you don’t and we’ll wrap it up because we’re way over time. But you don’t have a plan, strategy or system. And this is where I think you come into play. Right, as you help coach these folks. I mean, imagine, you know, you imagine coaching volleyball. Right. And I don’t know anything about volleyball. Someone sweat switch to baseball. But when you come out and you first start playing baseball is when I first started, I was like four or five. Right. You’re the. The ball was on a tee. You got to take a couple swings at it. Then you take off running regardless tonight, regardless of you were out. You had to stay on the base and run the next next spot. Then you move up a league. Right. So your you’re getting better strategy. You’re getting into a better system. You’re getting a better plan of how to excel at that sport. And you can probably give a volleyball analogy that I would understand. I just don’t I don’t know anything about it.

[00:59:30] I imagine you have clients that are T-ball.

[00:59:35] Ask right where you’re having to put the ball up on the tee form the swing at. And then there’s others that you’re throwing the ball at them a bit more difficult. So how does somebody start getting on a correct plan and then when do they know? Because, you know, basically in baseball, it’s age. Right. You go to four to six year old. Then you go to little league and then you go to the next one, like 13 and under, and then you go to high school ball. It’s age driven that says, hey, this is when you should go the next leap. But back to the financial, educational gap. There is no. I’m going all over the world to try to get to this question. There is no set. In St. qualifications, they say, look, you you have successfully conquered this league. You need to bump up on nacho educationally league. Right. So how do you know when to push somebody into the next? Into the next league. Look, man, you’ve done it already. You’ve done everything you can. This league, you’ve pocketed it. You are the world champion, the table. You need to bulk up the Little League. Here’s what we’re gonna do. How do you how do you know how to do that or whether you know to do that is it makes sense.

[01:00:48] It does. That’s a great question. And his the answer is it depends. The answer is, you know, we’re all in a different place financially.

[01:00:58] And when it comes to money, it’s people come to me because they you know, either they don’t know what to do with their money or they’re afraid of money or money is running their life and they don’t know how to figure it out.

[01:01:11] So it’s it’s really comes down to when how much energy, how much time does someone want to put into getting to the next level? Because for some, it’s just about like getting comfortable, you know, just knowing that no matter what your finances are on autopilot every month, your assets are growing. You know, if you’re if if from where you are based on the income that you’re already earning, that’s where I start. It’s not like, oh, we’re gonna go buy real estate. We’re gonna go create another stream of income. Now, what is the money that you’re already earning right now? Put it to its highest and best use. Knock out these pillars. We’re gonna polish up your credit. We’re gonna take you up so that you can go and buy property if that’s what you want to do or start your next endeavor if you want to quit the grind and follow your heart, whatever it is. So it’s a life changing event. Yeah. And, you know, some people want to take the next step and go to the next level.

[01:02:02] And others just they’re comfortable. They’re comfortable where they are. And as long as their dollars are going where they need to go, that’s that’s enough. And that’s fine. Everyone’s in a different and a different place, you know. And the other thing you asked me earlier is how, you know, how do I work with people?

[01:02:17] Some people don’t want to work with me for three months. It’s like, no, I just want to get. I want a plan. I want to know, where am I? And what do I need to do to get to the next level? Just give it to me straight. So I have a product for that. I call the impact session. And we meet for three hours with a follow up two weeks later. And I produce a report and it’s like here the step by step instructions for how you get to where you want to go.

[01:02:38] Yeah. And so it’s funny you said that because I’ve been. So I lost the mastermind. More about me. I’m sorry, but I at least realize that what you’re saying is that in November alights the mastermind and got 20 folks in there who were just killing it to the point. Our last, last call was like, look. So every call we have an accountability hot seat. We put one member on there. We talk about how they’ve been tracking their goals and whatnot. And a lot of folks have been so successful. They’re like. I don’t know what to do next. You know, I’ve been thinking, well, maybe this is just a three week course that I need to. I need to spin off a different product and say, look, here’s a three week course, I’m going to put you on this. And this is gonna you know, and not three week, three month course. I’m going to put you on this. And then you decide if you want to continue on or not. Because it is. Once you establish that baseline and they they accept and adopt the system. I’ve been amazed at the progress I’ve made. Right. And the successful things I’ve been able to do. There’s a lot of. So we have a weekly call. There’s a lot of members who can’t make the weekly call because they’re out doing the things they committed to do. And that’s the highest and best use of their time. And I get it. And I’m glad to have coached them and pushed them on their way and mentor them to say, look, you know, that’s that makes me pull my chest a little bit. But I’m also like, how do I. How do I get this? How do I take this business to the next level? So it’s interesting to hear you say that because it’s very similar. You know, swim lines, so to speak.

[01:04:22] Yes. Yeah. I mean, money is an adventure and it’s like life. You know, the more you learn, the more you grow, the more you grow, the more you want to grow. And you just keep meeting new people, new ideas, new inspiration. You change. Yeah. I did go in a different direction. Yeah. It’s all very exciting. And it’s start. You know, it does start with the people you’re spending time with and learning from. Yeah. And I have to say, you know what really has taken my business to the next level and my investing, for that matter, is hiring a coach and surrounding myself with people who are super excited about it.

[01:05:00] And they talk about things that I’m interested in, but in a different way. And yes, like going up a ladder, you just keep learning things.

[01:05:08] And that’s the thing about the mastermind is people, you know, because I ask for feedback. Hey, you know what can we do different? We can improve. What you like. And the biggest thing they like about or the feedback that I got this last quarter was I just like being around like minded people. They’re saying the same thing, but in a different way. And it’s making those light bulbs go off like, oh, yeah, it’s you know, it’s not rocket science is what we’re doing. And we all know how to do this. It’s just when it’s put in a different verbage, it clicks for other people. So it’s you know, I’m sitting here thinking we’ve been talking a lot about seasons and different seasons for investors and financial spots and people’s lives. Maybe that, you know, you and I are both in the same seat. Maybe, maybe our courses should be based on the seasons. Right. And we can put those people. Well, where you’re in winter, you’re in summer and spring your fall. Maybe there’s a service or product that we should collaborate on or something like that. I don’t know. My mind’s go. You got him?

[01:06:06] Yeah. I mean, I’m all about collaborating with people. I’m working on, of course, right now with the founder of well, wollett working on an E course.

[01:06:13] And it’s just for the people who lets up who as well while it one does it so long.

[01:06:18] It is a financial wellness tool. It’s like mint spend tracker. It’s a conscious company, a BBC public benefit corporation.

[01:06:25] I don’t know if I got this confused look on my face because for some reason, well, while it is registering, but it’s none of that just mentioned. Maybe I’m connected to in a different way. Maybe that’s it.

[01:06:36] Or maybe I’m not connected this and I’m confused. And that’s why it’s all right.

[01:06:43] You know, that’s this is why we created the course together, because we saw a gap. You know, there’s a gap work for people who are working a full time job and they want to get out of it. And so the course is called Quit the grind and follow your heart. And maybe there’s a collaboration for us around the seasons that has to do with real estate investing or going to the next level.

[01:07:02] Yeah. All right. Well, let’s definitely want to follow up on that so we can take that off line. So we’re way over time. I think we scheduled like 20 minutes for this and it’s been an hour and 10 minutes, which I’m okay with. I just I’m taking a long lunch. But thank you very much. Holly, where can people find out more about you? Can they register to find out when the book’s coming out? Because I definitely want to copy if it’s too much for me to ask for an a signed copy that I’ll. Yes.

[01:07:34] Yes. I am signing copies on. It’s published. It will be published later this year. And you can find me at financial impact dot com.

[01:07:42] Ok, a link to that in the show notes. And you’re also on Instagram, Tumblr, Facebook and Facebook. It’s how we’re connected, right? Facebook, Instagram, LinkedIn, LinkedIn. Awesome. Holly, thank you very much. And I will talk to you soon. All right. Thank you.

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