Die With Zero: Are You Investing for a Life You Won’t Live? | Ep. 18

0:00 – Here’s an idea that made me uncomfortable.

0:02 – Dying with a large amount of money might actually mean that you planned your life poorly.

0:08 – The reason it made me feel uncomfortable is because that’s what I’m actually trying to do right now

0:12 – is to build wealth and pass it on.

0:13 – I’ve always been someone who delays gratification, who saves, who invests,

0:17 – who pushes things out into the future.

0:19 – And that’s how most investors are wired.

0:21 – We spend decades building and compounding and optimizing.

0:24 – But we don’t spend a lot of time asking a very simple question.

0:28 – What should we actually build all of this for?

0:32 – Welcome to the Sage Investor.

0:33 – I’m Brian Spear.

0:33 – And my mission is to help you generate cash flow and build legacy wealth in a tax-efficient manner.

0:38 – Because that’s what I’m trying to do for my family.

0:40 – And I’m sharing all the secrets that I learn along the way.

0:43 – This is one of those ideas that stop seeing your tracks.

0:46 – Because it forces you to think about something that most of us avoid.

0:51 – Not how to build wealth, but when and how you actually use it.

0:57 – When do you actually spend it?

0:58 – If you really step back and you look at your life,

1:00 – what are you building all of this for?

1:03 – Not the surface level answer, but the real one.

1:06 – Because most of us follow a very similar path.

1:10 – Work hard, save aggressively, invest consistently,

1:16 – the lay gratification, and the assumption is that we’ll enjoy it.

1:22 – We’ll enjoy it later.

1:23 – But later is doing a lot of heavy lifting in that plan.

1:28 – And I don’t think we spent enough time

1:30 – pressure testing what that actually means.

1:34 – Because the truth is time is not linear in the way that we think it is.

1:39 – And not all of your years are created equal.

1:43 – And that’s what this episode is about.

1:44 – And it’s why we wanted to bring this book to the forefront today.

1:48 – It’s dive with zero.

1:49 – It was highly recommended by a lot of folks in an entrepreneurial investing group that I’m a part of.

1:56 – And so I went about popping open the cover.

1:57 – And ultimately, very, very happy that I did.

2:00 – Because this book had a couple of golden nuggets.

2:03 – And of course, it will not tell you how to spend your money.

2:07 – But it was illuminating to me because it provided a little bit of a framework

2:12 – and some intrigue and different ideas and topics that I wouldn’t have otherwise thought about.

2:16 – Of kind of when you might be more well served

2:20 – to send that cash out of your wallet.

2:23 – In an effort to optimize your life, in an effort to live the most rich,

2:26 – fulfilling life that you possibly can.

2:29 – From my perspective, I’m the kind of guy that oftentimes is going to delay

2:32 – gratification and try to continue to build as much wealth and compound interest as I can over time.

2:36 – I’m just wired in that manner to delay gratification.

2:39 – But this is a great book that provides you with some insight on why it would be prudent to do it now

2:44 – as opposed to wait.

2:45 – I think as investors, we spend so much time, energy and effort ultimately working on

2:50 – compiling a large net worth, building cash flow.

2:54 – What do I always talk about generating cash flow and building legacy wealth in a tax efficient manner?

2:58 – That’s what the focus is.

2:59 – That’s where the vast majority of my personal time, energy, effort and attention go.

3:04 – But I think as an investor, oftentimes one thing that is that is missed, that is overlooked,

3:09 – and that is lacking is once you build this cash flow, once you build this wealth,

3:16 – what do you do with it?

3:18 – How do you spend it?

3:19 – And nobody really tells you how to go about doing that well.

3:23 – The reason that this is a topic and a conversation that we want to bring to the table

3:27 – is I literally had this conversation with somebody two weeks ago,

3:30 – and they had a different point than I did, a different perspective on this book than I did.

3:33 – And both of us are trying to optimize, trying to grow our wealth,

3:36 – trying to build this individual tracks his net worth every single month and has done so for decades.

3:41 – And dislikes the idea and the concept of the book.

3:44 – And I don’t, I actually admire and enjoy and appreciate the book.

3:48 – And so I think that mere fact that two individuals that have the exact same objectives for

3:54 – them and their families have completely different perspectives on this book,

3:58 – make you as an investor want to understand more about why we feel the way that we do,

4:05 – about that striking perspective of dying with zero.

4:08 – I was at a restaurant with one of our partners,

4:12 – friend, long-standing investors, been with us for over 10 years now,

4:16 – and had the luxury of sitting down, talking shop, and spending some time together with him and

4:20 – his wife. And this book was brought up. And he said, have you ever read, die with zero?

4:25 – I said, yes. He said, what did you think about it?

4:28 – And prior to my sharing my perspective, I wanted to hear what he had to say about it.

4:32 – And so I asked him with great, great question.

4:35 – I’m happy to share my opinion, but what do you feel? How do you feel about it?

4:37 – And he said, I don’t like the book. I don’t know if he said I hate the book, but he said,

4:40 – I definitely, I dislike the book. I disagree with the idea. And it’s entirety.

4:45 – And it was interesting to me to hear that perspective because the book from my side of the house was,

4:52 – was, I don’t want to use the terminology profound. That’s exaggeration.

4:57 – But there are most assuredly some serious golden nuggets inside of that binder in my humble opinion.

5:02 – I’ve never once paid $10 for a book and not gotten a good return on my investment.

5:06 – And this was such an example, right? This partner and I, we share so much overlap.

5:11 – And what we’re trying to achieve on behalf of our families.

5:13 – Every single month for the last multiple decades, he has tracked his personal net worth.

5:19 – Absolutely beautiful. Love every bit of it.

5:21 – Trying to change the family tree in one generation. I’m trying to do the same.

5:23 – It’s beautiful. We share an investment philosophy, trying to generate cash flow

5:27 – and build legacy wealth in a tax-efficient manner. So I asked, why? Why do you feel that way?

5:31 – Because of course, he wants to pass along so much more to the next generation.

5:34 – And he wants to be able to share with his children the idea of hard work and dedication

5:40 – and delayed gratification and all the things that we, as investors, so much appreciate and cherish

5:46 – and hold so high. Die with zero is a very shocking title, as you can imagine.

5:52 – Especially for somebody who has all the intention of changing the family tree in one generation

5:57 – and leaving a large amount of wealth to the next generation.

6:00 – And hopefully, in due time, passing along to the third generation and the fourth generation,

6:05 – etc. Of course, I share his philosophy, but I took a different perspective and I genuinely

6:11 – appreciated the author’s intent and took it with a grain of salt.

6:16 – What is the risk of my going and optimizing for the highest amount of wealth and the highest

6:21 – amount of cash flow that I can ultimately create, right? If I only solely drive and focus on doing

6:26 – that, what is the risk associated with that? The risk is I end up like so many of these other

6:29 – individuals that unfortunately have really brutal family situations. There have been many

6:34 – biographies written about some of the world’s best founders who’ve created an amassed

6:39 – exorbitant amounts of wealth over time, built great businesses, but their personal lives are an

6:43 – absolute dumpster fire. That is a risk that I’m unwilling to take with my bride and with my family.

6:49 – I’m unwilling to do that. So that risk is far in a way too much for me to ultimately do.

6:55 – And I would happily give away a little bit of that return in terms of the nominal dollar

6:59 – amount that I’m going to create over time to ensure that we’re optimizing for lifestyle

7:03 – along the way. Personally, this is how I feel. The title, die with zero while it can be shocking,

7:08 – really should be taken with a grain of salt. The goal is not literally to die with zero money.

7:15 – The goal is to die with zero regret. While your capital worked at maximum efficiency throughout

7:22 – your entire life, the author makes this argument that you’re more well served to spend money

7:30 – at different times in your life to optimize for rich experiences. And he gives a couple of

7:36 – different examples. The first one I would use is, you know, when you’re in your 20s, he was in

7:40 – his 20s, maybe 25 years old, working on Wall Street as an investment banker and he had a buddy

7:44 – that was doing the same. And his buddy just hauled off and quit, hauled off and quit, spent two

7:48 – months backpacking, staying in hostels in Europe. And the author was unbelievably shocked. Why would

7:54 – you ever do that, right? That’s absolutely insane to walk away from an unbelievable job. It’s such an

7:58 – early age that could change the fine trajectory of your financial future. So the author said, you know

8:04 – what? I’m going to make sure that I get my ducks in a row, build my life, make sure that I got a good

8:08 – financial foundation. And then I’ll go do that. Then I’ll take a couple of months and I’ll travel

8:12 – throughout Europe, etc. Fast forward 10 years. And he’s now got a wife, got kids. And while he

8:19 – does have more money in the bank account, there is literally no chance that he would ever be able to

8:25 – go spend multiple months traveling around Europe, you know, backpacking. And even if he wanted to,

8:30 – he wouldn’t be willing to stay in hostels along the way, right? He’s just a juncture of his life

8:35 – where that’s not something he’d be interested in doing. The point is that those experiences that you

8:40 – have earlier in life, you give up a little bit in terms of compound interest in terms of the

8:47 – investments that you’re making along the way. But the argument he is making is that there is also

8:53 – something to be said of the compounding effect of the memories that you have. So as you can imagine,

9:02 – every time that you have one of these beautiful experiences, like myself, my wife, or we had an

9:06 – unbelievable honeymoon, we spent two weeks traveling around the Baltic and multiple different

9:10 – countries on the cruise. It was just an amazing experience. And I still have the luxury every single

9:17 – year of spending time reflecting back with my wife of this amazing journey that we’ve had. And every

9:22 – time that we bring it up, there’s a little bit of an endorphin hit, we get to remember these

9:27 – unbelievable experiences. And there’s something to be said for that. There’s value in that. In fact,

9:32 – some people would state that those experiences are priceless. And so yes, it costs money to go

9:39 – do those things a little bit further upstream earlier in your life. But when viewed over a long

9:45 – enough horizon, not only do you get the unbelievable one-time experience, but rather you get to experience

9:51 – it over and over and over in the memories that you can revert back to in those, provide you with an

9:55 – endorphin hit, and oftentimes can be priceless along the way. Later in life, you often hear folks

10:02 – unfortunately, truly that are on their deathbed that have now come to the realization that time

10:07 – is way more important and way more valuable than money. That has always been the case. But

10:14 – when you’re much younger, you don’t realize it until much later in life. And now all of a sudden,

10:19 – you built a little bit of wealth over time. You’ve become somewhat successful in the eyes of society,

10:22 – but you realize, so what, right? The truth is, if you don’t have your health, then what is well?

10:27 – It’s completely irrelevant. It’s why too many times when people are on their deathbed,

10:31 – you never hear folks saying, I wish I would have spent a little bit more time in the office. I

10:35 – wish I would have made a little bit more money. I wish I would have had another zero on the income

10:39 – statement or another zero on the balance sheet. Rather, they always say, I wish I would have spent

10:44 – more time with family. I wish I wouldn’t have worked so hard. Those are often the regrets that

10:50 – you hear. Most people die with too much money or not enough life. Almost nobody gets that balance

10:57 – right. I think another way to try to exemplify this is from one of my favorite movies of all time,

11:02 – probably my favorite movie of all time, Goodwill Hunting, where the main character, his love interest,

11:08 – is studying at Harvard. And she happens to be in her 20s. And both of her parents unfortunately

11:14 – had passed away. And she inherited a lot of money. She inherited multiple millions of dollars.

11:19 – So when that was the case, they’re squabbling back and forth and having a little bit of an argument

11:24 – and will the main character is kind of viewing her as somewhat of a trust fund baby. And

11:30 – the love interest says something to the effect of every day I wake up. You don’t think that every

11:36 – single day when I wake up I could give all of this money back. I could give it all back. And I’d give

11:40 – it back in a second. If a man I could have one more day with my parents, but I can’t. And that’s

11:47 – my reality. And so I live with it. For those that are kind of clutching onto the purse strings and

11:52 – so excited to pass along wealth to the next generation when you’re, you know, you reach 65, 70,

11:57 – 75, 80, et cetera. And you’ve got, you’re trying to pass along that wealth. That’s beautiful.

12:01 – But I can promise you that the vast majority of the children would much, much, much, much prefer

12:08 – to take the trip with you now so that you could travel the world together, spend time together,

12:13 – have those rich experiences together, be able to reflect back on them. And they’ll remember

12:17 – those for the rest of their lives. It is far more important than passing along another $10,000,

12:22 – $20,000, $50,000 in my humble opinion. The book, Die With Zero, has really helped me reframe what

12:29 – the ultimate objective is. Of course, I want to generate cash flow and build legacy wealth in a

12:34 – tax-efficient manner, pass along a bunch of wealth to the next generation, change the family tree.

12:38 – That is all true. But I want to ensure that we’re not so stingy and stringent about our expenses

12:45 – that we’re not enjoying life along the way and having the most wonderful life that we possibly

12:51 – can. So this idea of having these unbelievable experiences that produce dividends downstream,

12:58 – right? I mentioned my honeymoon. And every single year, when we think about it, we just get these

13:03 – endorphin hits. And it’s just so beautiful to think about that experience again and you just

13:07 – benefit from the compound effect associated with going back to the well and enjoying these

13:13 – priceless memories over time. That is really the objective. It is not to die with zero,

13:17 – but it’s to optimize for lifestyle. And that’s what we’re trying to do.

13:21 – Ensure that you’re not just trying to grow for growth’s sake. You’re growing with intention,

13:27 – but ensuring that you’re soaking up every single minute, every single moment that you can with

13:33 – your family along the way because you’ll never get those moments back. And it’s applying the same

13:37 – idea in this concept of risk-adjusted returns. You only need to get rich once. And once you do that,

13:43 – you should try to focus first on protecting the downside, right? You do not need to go shoot for

13:48 – the moon anymore. The first priority should ultimately be ensuring that you never lose money. Rule

13:53 – number one, don’t lose money. Rule number two, don’t forget rule number one. Continue to follow that

13:57 – path. So I’m trying to generate the best return that I possibly can while taking the most

14:01 – diminimous amount of risk possible along the way. And so if I’m bringing that same idea in the

14:06 – concept of risk-adjusted returns to life in general, if I kept a little bit more of that principle

14:10 – along the way and didn’t spend that money, I could have maybe built a little bit more wealth.

14:13 – So what? How much more do you actually need? Money doesn’t actually buy happiness

14:17 – independence does. And then once you have independence, then you’re just trying to find the best

14:20 – most rich experiences that you can. What about the inverse? What about the risk-adjusted return

14:25 – if I spent too much money? What if I spent a little bit too much money? Then from the perspective

14:30 – of compound interest, maybe I don’t have as much principle to grow it and maybe I don’t go from

14:35 – seven figures to eight figures or maybe I don’t go from eight figures to nine figures or maybe

14:38 – I don’t go from nine figures to a billion over time, right? But at some point, there’s always

14:43 – somebody that is always a bigger fish to fry. You’re then kind of in this comparative analysis

14:50 – situation. And if you focus on that, the risk-adjusted return perspective, the risk of spending a

14:56 – little bit too much is maybe I don’t get to a billion. Okay, is that the end of the world?

15:00 – If you don’t get to nine figures or eight figures of net worth, depending upon where you’re

15:04 – at in that range, is that the end of the world when you know that you spend time with your family?

15:08 – Are you going to regret spending more time taking that extra weekend with your family along the way?

15:13 – I would post to you that the likelihood is not, right? So just trying to make sure that you keep

15:17 – that in mind as you progress. And you optimize for lifestyle experiences along the way as opposed to

15:22 – simply and surely only solely focusing on building your net worth and your income streams along the way.

15:28 – I feel like a lot of folks that are extremely competitive, you know, whether they’re investors or

15:34 – just in business in general, you can fall into a trap, right? You can fall into a trap where you’re

15:39 – always trying to build a bigger business, build a bigger net worth over time and you’re competing

15:44 – against all these other individuals. Yes, it’s important to have a really good return on investment.

15:49 – It’s obviously an important trade to have a high quality return on equity, but it is even more

15:54 – important to have the best return on life that you can along the way. What are we actually

15:58 – optimizing for? Because if you do not do that, you end up in a situation where you’re comparing

16:05 – yourself to the Joneses. If you’re always trying to keep up with the Joneses, there’s always going

16:10 – to be a bigger boat. There’s always going to be a bigger car. There’s always going to be a bigger

16:14 – spaceship. Everybody else, right? There’s always somebody out there that’s got a bigger house, a

16:17 – bigger boat, a bigger car. It’s completely irrelevant. And it ties back to this idea of the inner

16:22 – scorecard. Do you have an outer scorecard or an inner scorecard? Back to the old sage wisdom from

16:28 – Warren Buffett. Try to live your life with an inner scorecard where at the end of the day,

16:32 – when you can lay your head down at night knowing that you’ve done everything in your power to

16:36 – optimize your family’s situation and optimize your life for the betterment of your spouse,

16:42 – your kids, your grandkids and all the network immediately around you. And if you do that,

16:48 – then that’s all that really matters. If you’re trying to compare yourself to others and benchmark

16:52 – yourself to others along the way, that ends up leading to just this innate anxiety and unhappiness,

16:57 – because you will never make it. There’s always somebody out there with a bigger car or a bigger

17:02 – house, a bigger this, a bigger that is completely irrelevant. Focus on yourself, right? If you had

17:07 – the choice to either be known as the best investor in the world, but you actually had a horrific

17:10 – track record and you were the worst, would you prefer that or would you rather be recognized as the

17:15 – worst investment track record in the world? But actuality, you have the best. You should strive on a

17:19 – daily basis to have an inner scorecard and work such that you’re less focused on your reputation

17:27 – and you’re more focused on your character, because reputation is what others think you are,

17:32 – and your character is what you actually are. Focus on your character, focus on your character,

17:38 – focus on your inner scorecard, and the results ultimately take care of themselves over the long term.

17:43 – So how do you kind of implement that in a more systematic manner in your life? The best way that I’ve

17:48 – found to ultimately implement this is by leveraging a system that was shared with me by a gentleman

17:56 – named Jesse Itzler. Jesse Itzler went on to a very unique and eclectic background, multiple time

18:03 – entrepreneur, sold multiple businesses, one of which is net jets, the largest private jet

18:09 – company in the world, ultimately sold it to Warren Buffett, his wife, I believe Sarah Blakely,

18:14 – also an exceptional entrepreneur in her own right. So these individuals have done exceptionally

18:17 – well. Congratulations. And you know, now he basically goes and teaches a framework on how to live

18:24 – the most rich life possible, because it’s no longer about money. It’s about how do you get the

18:29 – best experiences in life? He’s got a very great framework that I’ve implemented in my life as well,

18:34 – and it’s basically a cheeky name, but it’s called the big ass calendar, the big ass calendar.

18:40 – Literally on my wall behind me is just that. It’s a 365 day calendar posted on one

18:47 – respective board that in a moment to notice throughout the entire course of the year, you can just

18:51 – see your entire year planned out in one fell swoop. It’s very, very helpful. And you try to plan

18:57 – all of the family’s items on that calendar in advance of any of the additional business stuff,

19:02 – because if you don’t put the family stuff at first, I can promise you that my calendar would

19:07 – be absolutely swamped with exorbitant amounts of additional responsibilities from the business

19:12 – that would overrun any of that open calendar space, right? So you have to put the family stuff

19:17 – on first, and then you build the business to serve the family. And so the idea of the principle

19:24 – is the following. The big ass calendar is the following. He’s got a couple of very simple ones

19:27 – that I follow that I think are very helpful. The first one is the idea of a Musogi of having one

19:31 – large life goal that you want to achieve over the course of the year. So that can mean anything,

19:38 – it could be, you know, running a marathon, if you’ve never done it, it could mean becoming a

19:41 – published author. It could mean some sort of large goal that’s going to take you multiple months

19:45 – to ultimately achieve over time. So have something like that so that over the course of your life,

19:50 – you’d be able to say, Hey, in 2025, I ran my first marathon. Hey, in 2020, you know, six, I ended

19:56 – up, you know, running my first triathlon or whatever the case may be, right? Then he has this other

20:01 – rule that I absolutely love. It’s called Kevin’s rule. One time he was having a conversation with a

20:05 – buddy of his, his name Kevin, obviously, that was a firefighter, just a very, you know, traditional

20:10 – blue collar role. And they went out on this fun little trip out in Washington where I believe they

20:15 – hiked up to the top of a mountain mountain, Mount Rainier, and they were up on top of this mountain

20:19 – in the middle of nowhere. Nobody around. And again, didn’t cost him any money to do this. This was

20:23 – on a random Friday night. And they were just out there hiking in the middle of nowhere,

20:27 – thoroughly enjoyed every moment of it. And he asked Kevin, how often do you do this? He said,

20:32 – great story. I got a good system for this. He said, every other week, I do something a little

20:37 – mini adventure that I would typically not do. So over the course of the entire year, I have 26

20:45 – little mini adventures that I would never be able to do over time by instituting that small little

20:52 – tweak in your life. And again, that didn’t take any, any money to go out and do a little bit of a hike

20:56 – or, you know, walk around and do something random with your family. These are little mini adventures

21:01 – outside of the day to day, outside of the norm. And if you amplify that over the course of a year,

21:06 – two years, five years, 10 years, a decade, two decades, five decades, over time, as you can imagine,

21:11 – you have, you know, let’s say you live another 50 years with the advent of beautiful medicine

21:16 – and the like, right? That would ensure that you have 50 year defining basades, year defining moments.

21:24 – And you have hundreds of these little mini adventures. And what that ensures is that you’ve one life,

21:30 – you win life, and you’ll be able to go back and refer back to those unbelievable mini adventures

21:35 – over time and get a little tiny endorphin hit every time that you do so. And the beautiful thing

21:40 – about the big ass calendar is you plot that on the calendar and you’ll have the luxury of going

21:44 – back and remembering all these things that you’ve achieved over the course of a year at a moment’s

21:48 – notice. And that’s what I’ve found to be unbelievably successful in ensuring that you build the

21:54 – business to serve the family and spend the money at the time that makes the most sense. So you’re

21:59 – getting the best return on life that you possibly can along the way. I understand that our goal

22:06 – is to generate cash flow and build legacy wealth in a tax-efficient manner. This is an investing

22:10 – show, but the entire purpose of money, it is not money for money’s sake. Money is a tool very

22:15 – much like you go to Home Depot and somebody buys a drill. Why do you buy a drill? Do you care about

22:20 – the drill? Do you put a drill on a pedestal? No, you do not care about the drill, the quarter-inch

22:24 – drill. You care about the quarter-inch hole in the wall. The money is just a tool to ultimately

22:29 – have the cash flow so that it allows you to live the life that you want with your family. And that

22:33 – is what matters most. So always making sure that you keep that top of mind. And number one on the

22:38 – priority list, when you’re building this wealth over time and allocating capital on behalf of your

22:43 – family, maybe one of the most common times that this pops up is when couples are in their peak

22:49 – earning years because often when when couples are in their peak earning years is when the children

22:56 – are in school becoming young adolescents and you’ve heard it over and over and over again, right?

23:00 – When you have young kids, you hear everybody always say it, right? Oh my gosh, enjoy the time. It

23:06 – goes so quickly. It goes so quickly. Another one of these staggering statistics is that by the time

23:13 – that your child is 18 years old, you have already spent 95% of the cumulative amount of time that

23:19 – you will ever spend with that child. You will never get that time back. And it’s oftentimes very

23:25 – difficult to make the conscious choice to not work so hard, to not go spend the extra hour

23:32 – at work and over time because you’re trying to amass the the role of dex and the bank role and the

23:37 – nest egg necessary to be able to live the life that you want with your family, but the truth is

23:41 – the family is oftentimes right under your nose the entire time. And you want to ensure that you

23:47 – spend it as wisely as you can. As the old sage always says, I wish I would have spent more time with

23:54 – my family along the way. So please just be mindful of that. Of course, especially for those that

23:59 – have the kids there or the grandkids now, try to spend as much time with them while they’re young

24:03 – as you can. Because by the time that they’re 18 years old, that statistic is shocking 95% of the time

24:10 – that you will ever spend with your children is done by the time that they leave the house when they’re

24:15 – 18 years old. So let’s go ahead and round this out. At the end of your life, you’re not going to be

24:21 – staring at your account balance. You’re going to be remembering your life, the time that you spent,

24:27 – the experiences that you had, the people that you were present for. And I think if you ask most

24:34 – people what matters most, they’re not going to say money. They’re going to say time. So maybe the

24:41 – goal isn’t to die with zero. And maybe it’s not to die with the most. Maybe it’s just to allocate

24:49 – your life in a way that you don’t look back with regret. So I’m going to leave you with this.

24:55 – Where in your life right now are you overfunding the future and underfunding the present?

25:03 – That’s just something we’re thinking about. Over the last couple of episodes, we’ve taken a more

25:07 – of a personal span a little deeper dive into personal expenditures as well as kind of how to build

25:13 – your own little individual family office and build a business intentionally. And the truth is,

25:20 – you want to build it to serve your family as we’ve been talking about the last couple episodes.

25:23 – So the only way that you can actually do that, you can actually build the life that you want and

25:29 – live the life that you want today is if you have sufficient cash flow today to choose to live

25:35 – life on your own terms. In the next episode, we’re going to talk about one of those sage investment

25:39 – principles. And that is that free cash flow tells the truth. Free cash flow tells the truth. I can’t

25:46 – wait to dig into that more with you. Until next time, you’d be great.