Passive Income With Dividends, and How The Election Affects Investing w/ Matthew Paulson

Hey, fastlaners. Ryan here. And today we've got a special show because we're going to be talking about passive income, specifically for high earners and for entrepreneurs. And we're gonna be going through one of my favorite strategies for developing passive income. We're gonna be joined by my buddy Matthew Paulson. Matthew is the founder of MarketBeat.com he's also sitting on the investor panel this December at Freedom fastlane Live, along with some real estate investors, some managers. We're going to be talking about protecting your assets. We're going to be talking about reducing your tax burden. We're going to talk about passive income. We're going to talk about all that stuff. It's going to be one of, it's one of the things I'm most excited about. We're talking about where the economy is going in 2017. But I asked Matthew to come on because he and I met through a class that we teach here at Freedom Fast Lane. We don't market it very well. We're considering bringing it back in 2017. We don't even have a good name for it right now. We just call it the investment class here around the office. But I've noticed specifically that entrepreneurs are particularly bad at investing. We're really good at making our money. We're not so good at investing it for passive income. And I believe the path to financial freedom is to build a business and to invest the profits. We talk a lot about the building a business side. We don't talk about the investing side as much as we should, even though it's my favorite thing to talk about. So we do a class that we're considering making kind of a staple here at Freedom Fast Lane. We are taking early applications for that. If you go over to freedomfastlane.com investing you can get on the waiting list. We're looking at March, April, possibly for the next in person workshop. So it'll be with me and 12 to 20 other high net worth entrepreneurs and we'll be talking about investment strategies for passive income. So we're just kind of kicking it around right now, but we're starting to take applications for when we release that and in 2017. Now, Matthew and I are going to go through two things. One, we're going to talk about what the recent presidential election means for investments in 2017 and beyond. And we're also going to talk about what I think should be the staple of every investment strategy. It's really boring. It's very effective and it has to do with dividend Reinvestment. Now, Matthew comes from MarketBeat.com which is does a lot of technical analysis. So he gets deep into the numbers. And I don't even follow all of it sometimes. But I'll try and simplify it for you throughout the interview as well as the end, at the end of this session, if you like this stuff, if you like passive income, you'll probably want to get on the waiting list for the investment class, whatever we call it@freedomfastlane.com investing. And you're definitely going to want to check out Matthew's new book, which is all about passive income through dividend investing. And if you come to freedom Fastlane Live, December 9th, 10th and 11th in Austin, Texas, not only will you see the full investment panel, but you'll get a free copy of Matthew's book. We'll be giving that out to all of our attendees. All right. So this is a good one, especially if you are wondering where the heck things are going to go and what am I going to do with my portfolio and how am I going to set myself up so to have regular income through my investments. So enjoy this chat with the founder of MarketBeat.com, Mr. Matthew Paulson. Matthew Paulson, the founder of MarketBeat.com welcome to Freedom Fast Lane. Thanks for hanging out with us.

Thanks for having me on, Ryan.

So, Matthew, you're speaking on the investment panel at Freedom Fast Lane Live, but I wanted to grab you before we meet in a month or so. You know, you and I when we chat, it's usually about the economy and investing. We've gone through some training together. We have similar strategies for investing. But let's kick this off, you know, as at the time we're recording this, we are the morning after the election news. And I wanted to hear from your perspective and from what you're tracking over@marketbeat.com will the election affect investing? How do you expect it to and what do you recommend entrepreneurs do right now?

Yeah, I think this is going to be a lot like the Brexit or anything that the market wasn't expecting that it's going to be an immediate short term. What the heck just happened last night? We saw the Dow futures go down, you know, 5, 6% and then they kind of came back up a little bit this morning. And this morning it's kind of been flat so far. And I think the market has pretty quickly adjusted to the idea of a Trump presidency. So I think the market is going to be a week from now where it was two weeks before the election. I don't think there's going to be a giant dip because we elected Donald Trump as president. I don't think we have to worry about that. I think the longer term opportunity for investors are what are the industries that Obama had regulated or Clinton was going to plan on regulating or continue to regulate that might see less regulation in the future because of a Trump presidency. And I look at things like energy companies that especially the coal industry. Obama had kind of worked to bankrupt those and Clinton was going to continue on that path and now we might see a change of course on those. So there's some companies like that in certain sectors that I think the tide has changed a little bit for them as a result of the results of the election. And maybe there's some opportunity there, maybe not. I haven't really looked into it too deep, but for the most part the economy is the same as it was two weeks ago. And I just don't think there's a need to panic either way.

Well, even if the economy is the same way that it was two weeks ago, you and I share a bit of a common concern that we might be in for some rough waters. I'd like to hear your thoughts on that. And does whoever the president is affect that one way or the other?

Those are two good questions. I think cyclically we are overdue for some kind of correction. You know, it seems to happen every seven, eight years. We had one in 2008, eight years ago. We had one in 2000, 2001. We had one in the early 90s. And it's just we seem to be due for it for no other reason than that it's been too long since what happened. Obviously there are some big concerns internationally and with our debt and all those things that tell us that there are some strong clouds on the horizon. But it's usually those aren't the things that cause a recession. It's the thing that we don't expect. We didn't expect the housing crisis. Some people expected a dot com crash, but not everybody did. We don't know what the next thing is that's going to cause a crash, but we both think one.

I doubt it's going to be a great recession where the s and P500 is down 37% from its peak. But I think we're due for maybe a 15, 20% correction, something like that. Hard to say when, but sometime soon, whether or not the president affects that. I think regardless of who the president is, we give them too much credit in terms of the economy. Really, what they can or cannot do to make things good or not is probably more limited than the media would like to put. You know, presidential candidates put forth all these platforms and tax proposals and business proposals, and, you know, none of them just ever come to pass. It's all, you know, this is what my platform is. But, you know, the President isn't the person that writes legislation. It's Congress. So he just kind of. He or she just has to kind of take, you know, what's given to them and, you know, use their Bodie pulpit to try to influence legislation. But, you know, really, what can a president do to impact the economy? You know, maybe nominate a Federal Reserve chair or push for a stimulus package. But, you know, the presidents don't create jobs. You know, people create jobs. You create jobs, I create jobs. You know, that's where the economy, you know, you know, the life or death of the economy isn't going to happen because of a president. It's going to be because of entrepreneurs like you and me.

What, if any, economic factors are you looking at right now to analyze if we're in for rough waters, if we're in for smooth sailing in 2017? I know for me, I'm looking at interest rates have been way too low for way too long. We're at the. What I think is the peak of an asset bubble. I'm yet to see any fundamentals to suggest that it's gonna push real estate prices or stock prices higher. So I'm. I'm spooked. I'm in, like, sale position on most of my assets. So I'm curious. You seem to be a little bit less pessimistic than me. You're at least in, like, the, I don't know category. I'm more like in the I'm kind of scared category. Not because of who the President's going to be, but just because of whoever the President is going to be. We're still in an asset bubble based on policy. So. Yeah, what. What do you look at to see if we're in for smooth waters or rough waters?

Yeah, I've always been of the opinion that, you know, timing to market is kind of. Kind of a fool's game. So, like, you know, to try to predict, you know, when the recession is going to be, it's just impossible. So, I mean, you can kind of look at, like, the. A chart of the PE ratio of the S&P 500 to kind of see where we are relative to historical norms. If you look at that right now, and even though the market has gone down a little bit the last few months. You know, we're still, we're still on the high side. You know, stocks are expensive right now and you know, it's just it. I'm not selling anything, but it's not, it doesn't seem like a great time for me to throw a bunch of money at stuff just because PE ratios are where they are right now. And you know, as stock prices go up, dividend rates go down and it just makes investments less attractive until there is some kind of correction.

I was on Pat Flynn's podcast. It was probably over a year ago now and we were talking about investing for entrepreneurs. And I mentioned that the strategy, a strategy that you and I both like and that you've just wrote a book about dividend reinvestment and long term dividend strategies as a form of income and cash flow. I had one comment or just. Well, he basically accused me of trying to dupe the market and time the market with my dividend strategy. I know you have a different opinion. You see it as the opposite of trying to dupe and time the market. You don't believe in timing the market, but you believe in dividends. Explain a little bit about why you think that's such an effective long term strategy.

Yeah, I mean, you don't have to look farther than the data of how dividend stocks have done over the last 80 years to see that companies that pay dividends, that grow their dividends, that are just solid fundamental companies, General Electric, Procter and Gamble, Wells Fargo, some of the REITs, some of the limited MLPs are just really good companies and they perform really well. IBM, yeah.

I'm sure we own a lot of the same stocks. But if you look at the S and P Dividend Aristocrats, which are the companies that have raised their dividends every year for 25 consecutive years, even just over the last 25 years, from 1990 through the end of 2015, the S&P 500 had cumulative returns of about 1,100%. During that same period, the Dividend Aristocrats had returns about 1,900%. So it's not even close. The results, I guess the performance of companies that pay good dividends over time and grow them and are committed to their dividends, they just tend to outperform the market. And there's a lot of statistics that look back to the 70s or even the 1920s and 30s that just show that the performance numbers are really there. So people.

There are some people that just think you can't beat the market, but the numbers are there to prove it. So it's tell me I'm wrong, look at the numbers yourself and decide, has this strategy beat the s and P500 over a long period of time? Those statistics, they're just there. The proof exists.

Here at Freedom Fastline, we do a specific class that teaches entrepreneur, that teaches entrepreneurs how to invest. Because entrepreneurs are really good at making money, but they're really bad at keeping it, growing it, and protecting it from taxes. So I, when, when, when you were going, when we were going through that class together, I remember saying something along the lines of, I'm waiting for someone to show me where, like where I'm wrong. But dividends just outperform every other type of.

Class of public investment that the average person or even the average entrepreneur can passively park their cash in and watch grow. I'm just like, let's look at the numbers. If you want to show me something that is better, I'd love to hear it. But I'm yet to hear something that is. I have different reasons for investing in a dividend paying stock and it's mostly because of the compounding effect. But I'm sure you cover this, so I'd like to turn that over to you.

Yeah, I mean, if you look at a company that grows their dividend by say 7% a year, you know, we can use the rule of 72 to say, okay, company, you know, grows the dividend by 7% a year, that means their dividend is effectively going to double every 10 years. So if you were to buy a stock that has, say, a 4.5% dividend yield right now, 10 years from now, that would be 9%. Twenty years from now, that would be 18% back on your original investment. So if you find a great company that has a dividend that's growing and you hold on to it forever, eventually you're just going to get massive dividend payments. And that doesn't even count reinvesting your dividends, because as you reinvest your dividends, the payments that you get every quarter or every month just continue to go up over time. Not only do you have the dividend growth working for you, you have the dividend reinvestment working for you as well.

Yeah, there's basically two forms of compounding interest there. One is the dividend is going up a percentage every single year, and the other piece is just the number of shares that you're getting as a result of that reinvestment. Because if you're getting that 5% from the dividend that's buying more shares, it's automatically being reinvested. You've got double compounding, as I like to call it, which when you factor that over a 20 to 30 year span, it's almost terrifying what the numbers look like. I think most people overlook that though, because a three and a half to four and a half percent return year one is really unsexy. So most people who are risk tolerant or who are entrepreneurs look at that and say, I can make more money elsewhere. How do you answer an objection like that?

Yeah, I mean, ultimately we are trying to build a long term stream of steady cash flow that we can live on regardless of whether or not we own our businesses in the future, if we sell them or not, if our businesses are doing well or not. The goal is to have a stream of cash flow that will provide for our living expenses. So if I have $2 million in the bank or in dividend stocks that pay 4.5% yield, there's $90,000 of income I can live on every year. Never have to sell a stock, not have to worry about the economy because chances are Coke is going to keep paying its dividend. And it's just a really. You don't buy it because it's sexy, you buy it because it's boring. I think it's probably the right answer.

In the near term it is boring. But over the long term, if you run a spreadsheet that says, okay, I'm going to reinvest my 4.5% dividend every year and it's going to grow by 7% every year, after a decade or two, you just get a crazy dividend back on your original investment.

Right now, with the stock market so high, I am buying very sparsely. There's just not as much, just like in real estate, I'm not buying as aggressively as I used to because there's no inventory. There's no inventory of stocks on sale right now. So are you analyzing anything or are you changing your rules at all before you enter into a trade? And how are you evaluating when it's a good idea to invest into a company long term? Like, I'm sure you don't just make a hot list and jump in. How are you finding the right time to go in?

Yeah, I mean, it's really. What is this? I try to look at it first. I find companies I like. So companies that have solid fundamentals historically, have had a good dividend, have a good track record of paying their dividend, all the stuff that Any dividend investor would look for you look for the payout ratio. Is this dividend going to stick around? What's the dividend yield? How long have they been paying their dividend? How much have they been growing their dividend? All those things I do pay attention to, and I think those are kind of the first step. And then second, it's like, once you've identified a good stock, what is the point that you get into it? And right now, there's not a lot of stocks that I'd want to buy into, like Realty Income Corp. The symbol is just O. It's one of my favorite dividend stocks. But the PE ratio is just crazy right now. It's trading, I think, at more than 40 times its earnings, which.

Makes it a very expensive stock right now. So I wouldn't buy it right now. So I look at.

What does the company's dividend yield look like today compared to what it has been historically? What is the company's price to earnings ratio.

Relative to what it has been historically? And just kind of wait for them to, you know, look on the cheaper side. Morningstar has, they kind of did come up with what are called fair value estimates of like, you know, assuming there was no emotion in the market, what do we think the stock price is worth? And so you can see, like, what percentage of, you know, is this company trading at above or below its fair value estimate? And that's kind of a valuable metric that I like to look at. You know, Morningstar has their own dividend investor newsletter, which is really good, I think, and they have some really good insight that for people that buy these kind of stocks, and they'll list, they say this is a good company, but it's trading at 120% of its fair value estimate. So maybe you don't want to buy it right now.

That's just been a really good insight for me.

Are there any specific companies that you are either high on or really low on right now?

Yeah, one of my recent pickups was actually two of them. One was a company called Flower Foods. They got sued over, you know, an employee's or a contractor should be listed as employees kind of lawsuit. And they, you know, that's still ongoing. So their, their stock just got really beat up from that, probably unnecessarily because they really don't have that many contractors. So even if they lost that lawsuit, you know, it would still be.

It wouldn't be a material impact on their earnings. So they've got like a 4.1% dividend yield right now, and I think I'm already up about 4 or 5% on it, but I still think it's probably a pretty good time to get in on that. I think that'd be one worth checking out. And then I just bought Lamar Advertising. That was a pick from Morningstar. Dividend investor that's got a 4.59% yield today, or 4.95%. It's a real estate investment trust. So I hold it inside my 401k because taxes on REITs are higher than most dividend stocks.

But it's, you know, it's structured as a reit. It's, you know, they've got a pretty good competitive advantage because it's really hard to get new billboard space. So if the economy crashes, you know, advertising will take a crash. They might take a hit there. But I think there's some pretty solid fundamentals behind it. And it's got a good dividend yield and they grow it. And all the other stuff that I look for are you.

I mean, when we look at the dividend stocks that we're buying, we're looking at ones that have raised their dividend consistently over a long period of time. I don't think either the ones that you two met that you mentioned fit that criteria. So what is the criteria that you look at overall?

Yeah, and you're right, they don't.

So sometimes I'll be more forgiving of a company if they already have a higher dividend. You know, a 5% dividend yield is pretty darn good right now. So I might be more forgiving. Like, Lamar has only done a dividend for a few years now. So I really look at what's their capacity to grow their dividend, is the management committed to it? What have they said about what they want to do with their dividend? Some of those things I'll look at that. In addition to the track record.

The two I mentioned are more maybe on the exciting end of dividend stocks that I've invested in. But I own Coke, Johnson and Johnson, General Mills, General Electric, Pfizer, a lot of really boring stocks, too. Altria Group, Procter and Gamble, Philip Morris, Verizon, just some of those companies. But I do want to have some companies that maybe have some more capacity for dividend growth in the future, even if they don't have the track record to support it right now.

You and I have very similar portfolios, my friend. What I like about this strategy, and I think this is also one of the things that most investors fail to See, is I'm buying when a stock that I like that fits my criteria crosses over into that 4% territory. So I will make some exceptions. For example, I love IBM, so if IBM crosses like 3.8%, I'll see that as being on sale enough for me to dive into IBM, but that's enough of an immediate return to where I jump in, but hoping to hold that for a really long time. So what we're just looking for is those specific pullbacks where we can jump in and capture the immediate yield and benefit from that for a long time. I know you. I think you share almost the exact same strategy.

Yeah. And I think what's important for people that maybe aren't as familiar with dividend stocks is, like, the day you buy, that's kind of the yield that you lock in, because your dividend yield is all based on the price that you pay. So if A stock is $100.00, I buy one share, it's got a 5% dividend yield. It pays $5.00. If that stock all of a sudden goes up to $200, then the dividend yield is 2.5%. Anybody that buys at $200 is locking in a 2.5% dividend yield. So when we can buy when it's on sale, we're effectively locking in a higher dividend yield, which is obviously good for our money down the line.

Looking at the next 12 to 24 months, there is the question of, well, if we're at the top of the market, why would you still be buying right now? And I think your policy is to. I'll always buy good companies at good prices, no matter what the rest of the economy is doing. But overall, that's kind of a common question of I'm a little bit afraid that the market is going to crash or that the economy is going to fall off a cliff or that we're going to get into war. And what would you say to somebody who has those concerns?

Yeah, I mean, you shouldn't buy stocks unless you're planning on. You're planning on holding them for five to 10 or even more years. So even if there is a recession, do I think General Mills is going to be worth more five years from now than it is today? I think it is. So I don't really care if there's a recession because I don't plan on selling anything. I mean, it's, you know, let's say I own a fancy baseball card that's worth a lot of money and I love it. And, you know, it's a prized possession of mine. You know, if the baseball card market crashes as it has in the last, you know, 10, 15 years, I don't care if it's worth half what it was. I still love my baseball card and I still love my dividend stock, you know, even if the price falls in half because it still pays me that great dividend and I know it's going to come back someday. So, you know, why wouldn't I buy it? The metric that I used to track my success of dividend investing is not what can I sell all my stocks for today? Because frankly, I don't care, because I'm not going to do that. It's what is my income and where is that income going. So if I have, you know, if I have a portfolio of say, $2.5 million, you know, you get 5% off it. I still get that. You know, I still get that. I still get that money back, the 125 grand I'd be getting whether or not the market goes down by 30% or up by 30%. So frankly, I care less about what the price is today and more about the income that it generates. So I'm okay if there's a recession, I don't care. It just means the next shares that I buy will be on sale. So what?

Yeah, you had me at baseball cards, my friend. My favorite thing growing up. Now, from a longer term perspective, from a longer perspective, we hear people like Peter Diamandis, who you'll be meeting in a couple of weeks. You'll be sharing the stage with him. You can add your bio has spoken on the stage next to Peter Diamandis. When we, when we hear someone like a futurist like Peter talk about the fact that he thinks that 10 years from now, 30 to 40% of the publicly traded companies on the stock market will be out of business. How do you respond to something like that?

Yeah, I mean, if you look at the companies that make up, say the Fortune 100 compared, you know, today versus 30 years ago, they are definitely different. Companies change over time and I think it's important.

I would say I'm probably a buy and hold investor, but I think you do have to read the tea leaves and say, keep an eye on company's dividends and where they are relative to earnings. And if you see a company taking a turn for the worst where they might have to cut their dividend, I'd rather sell it before they cut their dividend and then move that into another company I own, say between 25 and 30 stocks right now. I'm not committing to hold them for 20 years. I'd like to, but I will only continue to hold them as well as their dividend remains fundamentally strong. And I know that out of the 30 stocks I own, some of them are going to get into hot water at some point. But if you know what the metrics are to look out for, then you kind of know when the water is getting hot and when you want to jump out before.

It should never be a surprise when a company cuts its dividend because.

Once a company's earnings are greater than their dividend and they have to borrow money to pay out their dividend, it's like, you know that that's not sustainable. So if we know that's gonna happen ahead of time, let's just get out and buy something else before that happens.

My sell signal is when a company that is used to raising their dividend does not raise their dividend or they cut their dividend.

I love Caterpillar stock. I think you even said in our Facebook group together, Ryan loves cats. Because.

I have preached Caterpillar stock as being a great pillar of my portfolio. But I sold when they did not raise their dividend. I didn't sell immediately, but I wrote covered calls on that to create some income. Then I got called out and I was fine with that because they decided not to raise their dividend. That turned out to be a bad decision because the stock has soared since then. So how is it that you evaluate whether you should exit a position or stay in it?

Yeah.

I really look at kind of a forward looking payout ratio. So what is their dividend now? What do I think it's going to be a year from now? And then I just compare it to like consensus EPS estimates. So what do all the analysts think they're going to make next year in earnings and compare that with what their dividend payout is going to be? Because typically when you look at a website, Even like MarketBeat, the payout ratio that gets shown is kind of a.

Look in the rear view mirror. It's what have their earnings been over the last 12 months? Not what are their earnings going to be over the next 12 months or the next 24 months. So I try to.

It'S in basic math. But you take their annual dividend, you divide it by what their earnings are going to be next year and if you see that number is getting too high or they're going to be paying out more of their dividend than they have in earnings, then there's A big storm cloud on horizon.

Essentially you're just looking at payout ratio and seeing if that's healthy and sustainable.

Yeah, and there's probably a little bit more to it than that. Most companies, management will talk about their dividend and.

If you read what they have to say and they're not committed to their dividend and their dividend forecast is, yeah, we're only going to raise it by 1% next year, then, you know, you should probably take a hard look at it.

So you're basically, you're, you're, look, you're playing the slow and steady game, but you're also playing the slow and steady game to exit something. You're, you're not reacting in the same way that, well, I did with Caterpillar or you're not looking at temporary swings. You're, you're kind of, it sounds like you're slow to get in, but also slow to get out of a position.

Yeah, I mean, I don't ever think there's something that you have to just rush into or rush out of.

I just, I know there are people that try to do that through day trading. I just don't think that's a winning strategy. I think it's more looking at the long term trends, the long term outlook of a company and seeing, you know, what's going to happen over the next couple years because what happens over the next week probably isn't going to matter. It's, you know, what is the long term forecast of each of the companies I own and are they going to be able to continue to grow their dividend? That's really all there is to it.

I know you literally just wrote the book on income through dividends. You write more than anyone I know. I don't know how you sit down and just bang out as many words as you do. But talk about your recent book regarding income from investments, specifically about dividends.

Yeah, so I wrote a book just called, the title is Automatic Income and the subtitle is how to Use the Power of Dividend Investing to Beat the Market and Generate Passive Income for Life. And you know, it's kind of a hypey title, but hypey title sell books. So I'm trying out a hypey title, but really it's.

It'S on Amazon. So if you just go to automaticincomebook.com you can get it for like three or four dollars. And really I just created that as a resource for MarketBeat subscribers to say, okay, if you really want to know the strategy that I use. Here it is. Here's exactly how to do it. Here are the exact resources that I use to research stocks and here are some examples of companies that I've evaluated and why I did what I did with them. And you know, it's really, I mean, it's only 120 pages, I think. So it's not, doesn't take a long time to read, but it does have.

It does have the exact strategies I use, what I look for, the criteria, all that good stuff. And I think if somebody wants to get into dividend investing, there are a lot of, there are a lot of good dividend investing books, but there's a lot of fluff in them. When I write, I don't put fluff in my books. It's really, here's the information you need to know. I'm not going to tell you 10 stories that illustrate a point. I just don't do that. So if you want a quick read to learn about dividend Investing, it's just automaticincomebook.com and if you attend Ryan's conference, which is Freedom Fast Lane Live, that I will be at and went to last year, it was an awesome conference and I think everybody should go to it. You will be getting a free copy of that book if you attend.

And Matt, I know I'm going to ask you to plug my stuff because you've probably been the most vocal supporter of what we do at Freedom Fast Lane Live and you don't throw compliments around in our little community. So would you, for 30 seconds or so share a little bit about your experience at Freedom Fast Lane Live last year?

Yeah, so I go to a lot of conferences. I go to some of the digital marketer stuff. I go to micro conference software entrepreneurs. I go to a conference called Rhodium Weekend every year, a few others. And what I really appreciated about Freedom Fastlane Live last year was one, the quality of speakers were like none other I've ever heard.

You had an opportunity to interact with speakers in a way that you wouldn't at other conferences. And some of that's because they bought the VIP ticket, but some of it was just because Jeff Hoffman was hanging out in the hallway one night and talking to people and that was awesome.

And then two, the quality of attendees was very high. There weren't, I didn't see a lot of entrepreneurs there. There were people, people at Amazon stores, people that had e commerce stuff, people that had SaaS, apps people, just people that sold mobile apps and just a lot of legitimate people. I made some great relationships while I was there. We, some of us that went last year have our own little slack group of about 20 people that chat and I've maintained those relationships and looking forward to connecting with those people again and meeting new people too. So it was just a really high quality event for entrepreneurs. It really helped me think big picture. This isn't the conference you go to learn how to use LeadPages to increase your conversion rate by 1%. But it is, how do I think, 10 times bigger than I am today. And I really appreciated that about the conference.

Well, Matthew, we're excited to have you back. We're excited to have you as part of the investment panel at Freedom Fast Lane Live next to Jay Massey, Jason Hartman, Jonathan Twombly. And we're going to be focused really heavy on passive income and investing for entrepreneurs. Can't wait to have you on stage. And thanks so much for hanging out with us on Freedom Fast Lane.

Yeah, thanks Ryan.

It's my opinion that you are truly free when your passive income streams pay for your life. And once again, entrepreneurs are really good at the thinking big, going big. And we love that stuff. I mean, heck, I'm known for my strategies of building million dollar businesses in 12 months. It's kind of my shtick. But the investing side of things, the actual passive income side of things gets so overlooked. I said you go all in on your business and you diversify through investing. You take the cash you make in your business, you invest it into passive income streams. That's when you are financially free. I'd highly recommend you grab Matt's book. Or actually don't grab Matt's book. Just come to Freedom fastlane Live. Get it for free. Listen to the investment panel. Find out where some of our students are investing as a result of going through the class. And if you want to be a part of our next workshop where we go really deep into this stuff, when we talk about protecting from tax burdens, when we talk about investing into dividends for double compounding growth, when we talk about real estate, when we talk about where to park your cash when you sell a business, when we cover everything about really setting yourself up for passive income, go to freedomfastlane.com investing. You can fill out a simple form. It'll just put you on our radar for the next time we open up the class. We'll probably have the next one in March or April of 2017. And if you're the right kind of person for that, you can come to Austin, Texas and we'll work together for two, three days on an investment strategy that you feel confident implementing. But seriously, in the meantime, go to freedomfastlanelive.com grab a ticket to the event, you'll meet Matthew, you'll meet the rest of the investment panel. And if you like this stuff, if you like the passive income conversation, I'd recommend listening to the podcast we did with Jay Massey on using other people's capital to put into real estate, specifically commercial real estate for unlimited passive income. He's also going to be on the investment panel at Freedom Fast Lane Live. So you are going to have a three day experience where we go deep into the how to piece of growing big profitable companies and then reinvesting them for long term cash flow. So I hope to see you at Freedom Fastlane Live and I hope to see you this spring at our investment workshop when we open that up. Thanks so much for listening. I really appreciate Matthew coming over from MarketBeat and sharing some of his insights with us and I'm very proud to have him on the panel at Freedom Fast Lane Live. Hope to see you there. And thanks for listening to the show. See you on the next one.