The Lifestyle Investor with Justin Donald

The average American spends more money to have a money manager or a financial advisor manage their assets to make them a worse performance.

Welcome to the Next Level Income show where it's our goal to take your income, your investments and your life to the next level. I'm your host, Chris Larsen. If you haven't yet, get a copy of our book for free at our website, nextlevelincome.com. that's www.nextlevelincome.com. just click on the book link and I'll even send you a copy if you put your address in. On today's show, we have the lifestyle investor, Justin Donald. Justin is the founder of the Lifestyle Investor and master of low risk cash flow investing. His ethos is to create wealth without creating a job that we're going to talk about. He excels at simplifying complex financial strategies, structuring deals, and disciplined investment systems that consistently yield profitable results. We're going to talk in today's podcast about how the wealthy, how the billionaires, the center, millionaires truly invest. And he's going to share what he's learned over his years with that and through his lifestyle investor mastermind, Justin now consults and coaches entrepreneurs, executives and successful media personalities on lifestyle investing. He also hosts the Lifestyle Investor podcast with the aim of helping investors consistently generate repeatable returns. Justin, great to have you on the show.

Hey, thanks. Glad to be here, Chris. Excited some time today?

Yeah, absolutely. I know your message is very similar, what we talk about with the audience here at Next Level Income. I'm really excited for you to talk about, you know, the Lifestyle Investor, which is, which is your book, but really talk about what the concept is and how you live that every day and share that with your coaching clients, your audience, your investors and all that. So let's hear a little bit about your background before we get started, Justin.

Sure. I mean, well, the term lifestyle investor I kind of coined because I wanted to capture something that I felt like most investors didn't have. Right. So to me, I want to earn money, to do epic things, to have a great life, to have cool experiences with family and friends and live life on my terms. So the goal is to invest in a way that creates passive income and allows us to live life on our terms. Right. A life by design, not a life by default. And so that's ultimately where Lifestyle Investor came from. But, you know, the, the body of work that kind of helped produce it came over a much longer period of time of iterate reiterating my investment thesis and figuring out what Are good deals, what are not good deals? Getting involved in bad deals, getting involved in good deals, kind of building out our investment criteria for me and my family. And then obviously we teach that to other people in the lifestyle, investor mastermind and community and you know, helping them build out their asset allocation and learning what the billionaires do and what their asset allocation looks like and what do they invest in. And it's a lot different than most people think. So you know, we want to kind of democratize what the wealthiest people in the world are doing from an investment standpoint because most people think, oh, you invest in the stock market and 6040 equity to bond split and now you're properly allocated. But that's not proper asset allocation. That's 100% public equities, which is super risky.

And as we, as we've seen here, as we record this, we've, we're recording this kind of early April and we've watched, well, in 2022 we watched that 6040 portfolio for the first time in history go down. At the same time, we've seen investors get absolutely whipsawed so far this week, you know, up and down and we've really seen that.

Yeah, well, and it's interesting because that 6040 split, touted as the safest asset allocation was, was literally the first asset allocation, worst performing asset allocation in a century. I think that was in 2022. So like think about that. That, that's, that's mind boggling. And when you learn that the wealthiest people in the world, the single family offices, AKA the billionaires and then the center millionaires and what their family offices do you realize that really it's only about 15 to 25% of their net worth that has any exposure to public equities. 50 to 60% and in some cases even up 70% is in alternative investments. And they use, they leverage their public equities, they borrow against it, don't have to sell them, so there's no taxable event if they just borrow. So they borrow against it and then buy more alternative assets. And so most people don't get that. And so, you know, I really wanted to kind of help bring that to your average everyday person, to your entrepreneur, to your, you know, higher paid corporate executive or doctors and lawyers, people that, that A, should know this and B, have the means to do something with it right away.

Yeah, no, I love that, Justin. I want to, I want to break down, you know, what the, what the ultra rich do as far as their asset allocation, because we've talked about it Multiple times. But one of the things I learned in sales was we used to tell our sales reps, hey, you know, people need to hear things about seven times before it sinks in. Especially when now my MBA is in asset allocation, is in portfolio allocation.

Okay.

As I learned that in my MBA program, I was like, wait a minute, like this is not how the family offices, the endowments, actually allocate their money. And I'm like, whoa, this is crazy. So here's I'm learning all this in, in my master's program.

When did you, by the way? Yeah, I know many billionaires that have less than 5% of their net worth in the stock market today, Today pre, you know, drop.

Yeah, yeah. And it's, you know, the Dave Ramsey's of the world do a lot of good because they talk about reducing debt and things, you know, but really that's, that's, I always say that's, that's like advice for the working poor, you know. And I think your mission is very similar, which is let's teach the masses what, what the ultra rich. Dr. By the way, like, I would.

Love to just give a shout out to Dave Ramsey. I think Dave is world class at helping people get out of debt. I think he's fantastic at helping people get out of debt. But he does not teach how to build wealth.

Great.

Two different ends of the spectrum. Someone trying to get out of debt is not a candidate for the things that we do, the things that the wealthy do, they need to get out of debt first. And we need people like Dave that educate the world. Like if you're in debt, here are the processes, the programs, the ways to do it. So I actually love that he does that. What I dislike is that people take it out of context. And Dave Ramsey says this, so I shouldn't do it. He says debt is bad and so I shouldn't invest in something that uses bank for a loan. But what if you get a long term fixed rate? What if you lock it up for 10, 20, 30 years? What if you get a rate cap? What if you do all the things that actually makes that debt good when that asset cash flows today? So I just want to separate or bifurcate this whole idea of, you know, Dave Ramsey says don't do it. Well, it depends what scenario you, you're in. Like, do you have a lot of credit card debt? You absolutely should go to Dave Ramsey. He's world class at that. Do you actually want to build wealth, compound wealth, you know, create millions of dollars of net worth, maybe tens or Hundreds of millions, a different person. It's. It's a different education. It's a different thesis. It's a different strategy. And that is the world of having access. You either have it or you. And it's all about the people you hang out with. It's all about mentors and peer groups and masterminds and the connections that you have.

I love that. So, yeah, let's walk our audience through that, Justin. Kind of step by step. But again, I want to go back. When did that light bulb go off for you? When did you say, wait a minute. This is not how you can live life on your own terms?

Well, I'm an early entrepreneur, and I got to a point where I was working crazy hours, because what I learned was, you know, okay, over here, I can be an employee and I can make so much, but I kind of get capped on what I can make the most part. Right. There's only so far you can move up the corporate ladder. I actually learned I don't want to move up the corporate ladder because it just kind of creates more, you know, golden ham.

Yeah. So tighter and tighter and that chain.

That's right.

And stronger. Yeah.

So I opted to build a business, and I liked it because I could. I could work hard and earn more. The problem is, if you don't build the systems, don't, you know, have the right infrastructure, don't have the right people and teams, then you can be on the hook to do a lot. So early days, I was on the hook.

You build a job, not a business, Right?

That's right. Your business owns you. You're not a business owner. Your business owns you Lived that. Right. And so I learned to build better systems. I learned to hire better people, and that created a better framework. But I remember in the early days, put it in the hours. It was great, because then my skill set wasn't as developed as it is today. So what was I really good at when I didn't have a strong skill set elsewhere? Work ethic. So that actually served me really well, Chris. I worked my tail off, but in the process of doing that, I actually acquired skills. And the smarter I got, the more I realized I should not be banking on my work ethic. That was good that I had it, and it's good to know I fall back on it. But that was kind of like phase one. Phase two is how do I use my intellect? How do I leverage relationships? How do I build systems and create replicable processes inside the business and inside of investments? And so now I don't work as hard. And I figured out how to. To make more working less hours. And so, you know, that little difference. I think, you know, my aha was wow. I used to wear work ethic as a badge of honor. I need to wear intellect and networking and relationship building as a badge of honor. And that really is how I should kind of grow what I'm doing. But I did have one, well, many, but one distinct late night. I can't remember if it was a Friday or Saturday night. It was on the weekend my friends were out and they were all going to the bars downtown. I lived in Chicago at this time. And I just remember thinking, you know what? I'm okay with the season of life right now. I'm working harder. I'm not going to make it. I got to, I got, I'm staying late, you know, at the office that night. I'm be in early the next morning. You know, back then I was working six days, six and a half days a week. So I knew that that season was there, but I also knew that it contemporary. And so the realization was I can do this and I'm willing to do it today. I most certainly will not do this when I'm married and when I have a family, when I have my daughter today who I want to attend all of her sporting events and I want to be at all of our family dinners and all that stuff. Right. That that matters more. So knew that I needed to figure out and bridge that gap. I didn't know how. I just knew I needed to. And I figured if I, if I read enough books, if I surrounded myself with the right people, if I had the right men, I would be able to figure it out. And that is ultimately what came into fruition.

Yeah, I love that. And you've. You mentioned several things that I think are important. You know, we have a lot of professionals that are out there. Doctors, surgeons, like people I used to work with professionals, as you mentioned, they work up other vice president, you know, the president. I was talking to a friend coaching client makes 400 grand a year. His wife makes 400 grand a year. And he said that he's like, man, I don't see my family, I don't see my wife. There's cracks starting to form in my relationship as a husband, as a father. And he's trying to figure out what do I do to get out of this. Because working harder and working more got him where he is, but it's actually putting him deeper into that hole is those golden handcuffs get, get stronger and stronger.

Chris, I, I learned a valuable lesson early on. The lesson was this. There's a choice and basically what happens. So there, there's two different, you know, lessons that I learned here from two different people. And one of them is whatever you're saying yes to, you're saying no to everything else. So if you're saying yes to business, yes to work, yes to growth, and you're saying no to your family and which is the greater cost, you know, and, and sometimes for us, you know, alpha males and hard charging, you know, men and women, it's like, oh, I can justify it, but is that actually what's best? And, and when I learned to put boundaries around my time and the business and what was non negotiable with my family, everything changed. And I actually thought I was going to do less business. So I decided I'll say yes to my family and no to extra hours and, and you know, all the different stuff would work and I thought business would go down, but I would be building, you know, relational equity inside my family. Right. Like I'm doing the better things. What ended up happening in reality is I just got more efficient in the business. I got more efficient with my time. I got better at delegating, I got better at putting the right people in the right seats. And so I actually worked with less in the business. And the business started to grow more than when I was doing all the things, wearing all the hats. But it was described to me as this. Your business is a rubber ball and your family is a glass ball. And most people drop the family ball and it shatters. You can't put it back together 10 years later. You can't make up for that lost time of missing events and, you know, connecting and family dinners and being at all the things. But the business ball, that's a rubber ball, that thing keeps bouncing, it might stop bouncing. You can get it bounce again. Right. Like it's, it's so resilient.

Yeah.

And so that has just really spoken loudly to me over the years and thankful for those lessons because I chose family and I did it thinking it was to the detriment of the business, but in reality actually ended up being to the betterment of the business.

That is such a great analogy. I love that I used to juggle when I was like super cool when I was in math club in middle school. Like I juggled and I like did math. I was like, okay. I was in the marching band too. I put some. But no, it's great because, you know, you drop that glass ball, you know, you can't pick it up. Have you read the book Die with Zero?

I have, yeah.

So, you know, a lot of similar lessons in there. You know, it's a little, it's, it's a little hyp. Hyperbolic to say Die with Zero. But it's like, hey, what are you, like what are you living for? You know, I, I've talked about the moment where I lost my best friend in college and I was like, wait a minute, like I'm racing my. I was racing bikes at the time, Justin. And I was like, I realized I was, I was riding around in a circle at this race one day and it just dawned on me. I was like, what, what am I doing? Like, what if I die tomorrow? Like, am I going to be happy with, with what's happening? And I got, I got smacked into the face with, you know, the death of my friend. And I hope, you know, I hope people don't have to go through that to realize it. But the bigger thing in my mind is a lot of people don't realize that till they drop that glass ball. They lose their marriage, they lose the relationships with their kids or something happens with their kids because they don't have that time. When did you. So you had a, you had a business? What type of business was that?

Well, I had a recruiting and sales company, early days. I turned that into a consulting company and kind of spun out, you know, the consulting arm and advisory arm. Started a single family home maintenance company that ended up doing business with the large institutional owners of single family homes. Once that started, once I started noticing the pattern that that was becoming a real estate asset class because back then SFR was not thing.

You know, it's just what people, it's like what my parents did, they bought a couple, you know, random. That's right. Yeah. What's the shoot is it, what's the percentage now? I mean we see, we see the blackrocks, we see the private equity groups buying up, you know, single family homes. So we've seen that since the great, the great reception.

Yeah, they scooped up a ton. You know, I don't know what the total concentration is today. I just know your biggest groups are, you know, 10,000, 9,000 single family homes. I think you have one group maybe approaching 100,000 single family home rentals now. And so our business service that. And then while we were doing that, I started building out our real estate portfolio and I got started with mobile home parks, got into apartment complexes, got into hard money lending, then transitioned into industrial. But I mean, I've done it all. I did, I did retail, I did self storage, you know, I did office. I mean, you name it, I've done it. But you know, my largest two holdings today are still mobile home parks and industrial real estate, which have been the top two performing real estate asset classes this past decade.

No, it'd been fantastic. So for those people that go out, they've created a career, they've created a business, they have capital coming in. Let's say they have debt to pay off. They listen to the Dave Ramsey's. Let's go back and talk about how do the billionaires allocate compared to that traditional 6040 portfolio in stocks and bonds?

Yeah, we'll just start with the stock market in as low as 5%. I've seen as high as 30%. So I just generally say most of what I see is 15 to 25% in the stock market. I'm sort of, you know, I mean that position is generally going to be the stock side of things. Okay, well, you see 5 to 15% in fixed income, so that's going to be more the bond side of things. And then you'll see, you know, really alternative investments are about 50 to 60%. And it's been an uptick, so, you know, 2020 to 2021, 2022, so on and so forth. Every year that has grown over the last five years. And so when the report comes out, there'll be a new report out in May this year for all the family offices. So J.P. morgan, Goldman Sachs, KKR, Apollo mayoral, like all these groups will put out their reports, the family office groups will put out their reports. So we'll know 2024 numbers here, you know, in the next month or two. And I'm like, I study this data like crazy. All right, so private credit, you're seeing that creep up and so you're seeing that one, you know, a lot more like 5 to 10, maybe as high as 15%. You're seeing crypto 1 to 5% and that's primarily bitcoin. Yeah, you know, your younger family offices are probably a little more aggressive with other, you know, I mean, crypto in general, they might go up to 10%. I've seen as much as 15%. And then you've got, you know, cash, that's generally 5 to 10% cash or cash equivalents you've got. Real estate is generally usually like 10 to 20%. But you know, I'm seeing it a lot now, closer to 15% or so. Yeah, and Then, and then you've got like your lower percentages, like, you know, oil and gas, commodities is like 1 2%. Infrastructure is 1 to 2%. Precious metals is 1 to 2%, collectibles is 1 to 2%. Most of those probably floating closer to the 1%. Right?

Yeah.

And that's probably everything in there. I think I said everything. But that's mainly it, it adds up to 100%. But I think when you take out private equity, private credit, real estate, and some of the other alts like crypto and oil and gas, you know, those five categories are generally anywhere from 50 to 60%. And then I actually just went to a family office event where there were families that had 70% exposure to alts.

Yeah. And I think, you know, and also I think the one you didn't mention is there like businesses, you know, I think a lot of people, you know, either own, have, have their business allocation from the business that they built and created their wealth, or they're investing in smaller business. I know that's part of your portfolio.

Yeah, generally that'll fall in private equity. And I. You're right, I did not say that. So private equity is generally 20 to 30%. And the purists will actually separate out their business versus other private equity they've invested in. But yes, great point. So the biggest one of alternative investments is private equity venture would fall into that. And that's generally like, you know, 4 to 10% of that, 20 to 30%. And then you know, the rest of private equity businesses, small mom of stuff, or big companies owning a, you know, a smaller position, you know, that's, that's the additional, you know, up to about 30. I mean, I've seen it as high as 40, but you know, generally you're seeing 20 to 30, maybe up to 35%.

Yeah, and that's a great point. So just kind of contrasting that, you know, you got, you know, the average investor that starts out, they're putting money in their 401k, they're doing like the traditional 60, 40, 80, 20, 70, 30, 50, 50 portfolio stocks and bonds. Whereas you get in the ultra rich categories you mentioned the center millionaires, the billionaires, they're doing like a quarter a quarter maybe in fixed income, which may be bonds, that may be other, other type of fixed income. And then that, that big one that a lot of people miss is the 50% that you just, you just talked about and broke. That's right.

For us, most people don't even know that's a thing. Right? Yeah, no, they're listening to their financial advisor and you know, their financial advisors incentivize based on assets under management. So whenever there's a good deal that they don't make money on, they typically don't like it. Right. And yes, you know, and then just, just to put this out there, for those that have people managing your, your money, in the last 15 years, only 5%, all money managers have outperformed the S&P 500 index in the last 30 years. It's less than 1%. Less than 1%. The average American. Yeah, the average American spends more money to have a money manager or a final advisor manage their assets to make them a worse performance. 95 to 96 or 99% of them are spending more money, so they're, they're draining their net worth. They're spending more money to get a worse performance than if they just went on Charles Schwab and invested in the s and P500 index.

Yeah, excellent point. And I just read a report two days ago, average investor averaged over the last 20 years, three and a half percent, approximately. That's right, stock market, you know, and then you. Yeah, Burton Malkiel, one of the first books I, I read on investing, a random walk down Wall street, you infamously talked about like a blind monkey throwing darts or a monkey throwing darts can pick better than your average manager. And when you think, if you think about it, it makes sense, right? Because all of these managers, all this money makes up the market as a whole. So all you need, if you can capture the market performance, if you're paying somebody to do that and then you're paying fees on top of it, you end up eroding your performance. And you know, you're, most people don't think about it, but if you're getting a 10% return and you're paying an average of 2% in fees and everything on top of it, you, you're giving up 20% of your performance, but in a compounding effect before taxes. And then that compounding effect, you know, you're just average investor that's investing, you know, 1, 2 grand a month. You're spending seven figures over your 40 year career in that underperformance, unfortunately. So two big things that you mentioned is lowering fees can help your performance and the proper asset allocation. And you mentioned, Justin, you've, you've invested in businesses outside of your, your primary business. What type of businesses have you, have you been involved with?

Well, I have this philosophy that I don't like to do any sort of early Stage or risky investing unless it's with surplus cash flow. So for me first and foremost I need to cover my survival income. So what does it cost me just to get by on a monthly basis, then get to my lifestyle income? What it actually live the life I'm living. Then it could be like what's the ideal lifestyle? Like how do you want to be living Now I feel like I'm living pretty good. So I just try and build this big surplus over lifestyle. And then for most people they're working their whole lives to save 10, 15, 20%. Once you get to surplus income you can take 100% of that and compound wealth or donate to impact and things that make a difference and so so that surplus income. So I don't need any more cash flow to cover my life. What's, what's additive? I take that whatever is, is monthly recurring or quarterly recurring. And that's where I invest in earlier stuff. So early stage companies are higher risk. I mean generally the numbers tell you that you got to make about, I mean At a minute 50 early stage investments to have a winner and, and usually it's closer to 100 and you actually need to invest in 412 investments or you would have a unicorn. So think about that. Most people never get to those numbers so they're basically giving an interest free loan for an undetermined period of time and they don't find out that it went belly up for 10, 15 or 20 years and that time they were probably doing more of those investments. So I really like to keep early stage to about 1% of my portfolio venture. I like to have at 10% of my portfolio with professional managers that know I shouldn't call them money managers. Professional venture capitalists, yes, that are tier one outliers, best of the best, you know, top quartile performance. And then I like large positions and small to medium sized businesses that have a track record of profitability that I think can easily enhanced and even systematized or adding a layer of technology to help increase the valuation, maybe adding a layer of AI to it or taking smaller positions in much larger companies. And I like profitable companies. I don't put any more than 10% of my net worth in early stage. And really it's 1% in early stage. Yeah, it's 10% in you know, mid stage. So series A and beyond and then it's, it's you know the additional probably for me 25% in late stage. So I'll do secondaries, you know, I'll buy a Business and bring in an operator. But I'll do secondaries of big, you know, companies or I'll do, you know, and then I'll follow trends too. So like AI, I know it's going to be big. I don't know who's going to be the big one. So I just invested in all I invested in co here, Anthropic X Perplexity, there's a few others. I don't know who's going to be the winner.

Yeah, the AI bastard.

Open AI Chat GPT.

Yeah. So all five, which I just saw my son was on this morning. He's 15. I'm like, these kids are writing papers with chat GPT and then they're running them through another filter that, you know, it creates a algorithm that doesn't allow the filters, the tests to detect it. It's pretty wild. That's right.

By the way, I'm also going to say though, I don't know, I mean, I know AI is here to stay. I don't know which company it is and really you only have to get one of them. But I only make those because they're still early stage investments. They're big companies, but they're still like, you know, early to mid stage investments. So I still, that being from the cash flow of my surplus income.

Yeah, great point. And that's anti fragile. Nassim Taleb, he talks about that. Like that bar like you, you gotta, you gotta be safe on one side of the spectrum and then you can bet big with that very small percentage on the other to have a very robust portfolio. You know, Justin, you talked about, you know, the top performers here over the last decade. You talked about mobile home parks, you talked about multifamily. What do you see being top performers in the real estate market over the next decade? Because we've gone through a lot of volatility here. You know, we saw, you know, coming out of COVID we just saw crazy valuations. People were amazing, making crazy returns in those markets. We've seen a lot of challenges on the credit side right now and we're seeing a lot of shakeouts there. What trends are you following over the next decade on the real estate side?

So, Trent, so specifically real estate, I'm still very bullish on mobile home parks and industrial. Those are my two heaviest holdings. Going to continue to be my heaviest holders. I like them the most. There's more data on industrial because it's bigger and it's more institutionally owned. Mobile home parks, there's less data because it's less institutionally owned. It's a less, it's the least concentrated real estate asset class. But that generally when you say least.

Concentrated, you're talking about there's still more mom and pops, more disparate ownership.

That's right.

Versus more institutional ownership.

Yeah, that's right. Yeah. It's still probably 10 to 15%, maybe max 20% institutional ownership. So. So because of that being the most efficient real estate market, that likely will be the, the best performing. But with industrial, it's just going to continue to grow. You know, E commerce is going to continue to grow. We're going to do more, you know, on shoring here. I mean, it's, it's just going to continue to grow. So those are my two that I'm really banking on. But if you want big picture, you know, and think about the trends, because I made a lot of money on trends. I got into mobile home parks early, I got into industrial, I got into cannabis investing early. I got into the single family home rental business early, before it was ever even deemed an asset class and established to be tracked. And so what I'm trying to do is figure out what's the next thing that is a trend that's not mainstream, that I can be early on. And so, like, a lot of people don't know. I mean, today AI is really big and robotics is really big. I've been investing in them for a decade. So, like, I knew that that was going to be big way back when. And so I'm looking for what's the next thing that's going to be really big. And the reality is the largest wealth transfer in the history of the world is about to happen. It's happening over the next five to 15, maybe 20 years. And that's with baby boomers passing down their wealth to millennials to the tune of anywhere from I've heard the trillion to $106 trillion.

Yeah.

So even if you take the low end of that.

Yeah.

That's by far the largest transfer of wealth in the history of the universe.

Absolutely.

So what do millennials, like, how do they spend their time, how do they work, how do they shop? What are. I mean, you can, there's data for all this. So it's, it's not like you're just guessing and throwing darts. You actually demographic figure out.

Yeah.

What they desire and invest in those things.

Yeah. You ever. Are you familiar with Harry S. Dent? Yeah, yeah, I read his stuff when I was in business, actually, right before business school. And you know, he talked about how you can predict the, you know, the baby boomers purchase of Harley Davidson's and potato chips and houses and, and that's one of the reasons I got in the multifamily, in the medical device space with all those things. I think we're going to have a real crisis in senior housing right now over, over the next decade is, you know, those baby boomers are going to age up, they're going to need to be cared for. I'm dealing with that with my stepfather at the moment as a matter of fact. Anything expensive, it's really expensive. Do you want to. Yeah. You want to go into some numbers? Yeah.

Limited resources and it's astronomically high in price.

Yeah.

I don't know the data on it the way you do. I've studied a lot of other things and that is one, that is one sector I have not actually invested in. It maybe one of the only real estate sectors I have not invested in.

Well, there you go. Now you can at least research it. We can, we can have you back on and chat more about that. But I know you're wrapping up. I know you got a, you got another podcast you're going to be recording here. I'd love for you to share a little bit about your book, your coaching group and I think you got, got some, some cool stuff you're going to share with the audience as well.

Yeah. So you can find anything I do on lifestyle investor.com. so the goal is to have something for everyone. So I've got a podcast called the Lifestyle Investor that's obviously free. I've got a blog, I've got all types of free downloadable resources. Some of what I wrote in my book I decided to exclude from the actual book. So the only way you can get it is, you know, these downloads and it, and it is literally book level quality. So of course there's the book. We just launched the updated and expanded edition of the Lifestyle Investor. So we added a 30% more content to that book from the previous book.

Awesome.

And so that book became a number one Wall Street Journal and USA Today bestseller. It's a top 1% of books sold in the history of all books, which is super flattering. All the proceeds go to fight human trafficking. So we've donated hundreds of thousands of dollars to those and feel just a strong calling to really shining the light on people that are needing our help more than anyone else. So from there we've got online courses, we've got master classes, we've got a tax strategy masterclass called the Tax Advantage. We've got a due diligence course where we teach people how to actually invest in real estate, real estate syndications, real estate funds. We've got a passive income master class, we've got a mobile home park master class. But our flagship product, I mean, we'll run a couple of live events, but our flagship product really is Mastermind. We've got a couple of different masterminds depending on where someone qualifies. But this is kind of like the highest ticket, most value opportunity between the lifestyle investor tribe of investors and it's just been a lot of fun. We've got a wait list on Lifestyle Investor and they've both just seen tremendous growth over the last number of years. So any of that can be found@thelifestyleinvestor.com or just lifestyleinvestor.com and, and what I wanted to your audience. We do these, these strategy sessions for people that kind of want to figure out how do I take the next step, like how do I move from point A to point B or from point B to point C? And so we, we do these $500 strategy sessions. But what I'd love to do for your community is just open up the and say, hey, anyone that wants a free, wants a strategy session, we'll do it for free. So we'll waive the cost and you can meet with someone on our team that is skilled at, you know, really helping people, coaching people to figure out what's next. So if you go to lifestyleinvestor.com consultation, you will obviously be able to schedule a time for that.

Awesome. And we're going to put that in the show notes here. We got your website in here, Justin. We got that link for the audience. So if you're listening today, click on that lifestyleinvestor.com consultation if you want to meet with someone from Justin's team and check out your book, it's fantastic. The gospel community is fantastic. Justin, we love what you're doing and thank you so much for sharing your thoughts and your framework for developing wealth, as you said, so you can live life on your own terms and do epic stuff.

I love it.

Love it.

Well, thanks so much, Chris. It was great having the day, some time spending with you and even learn a little bit more about the cool things you're up to. So really cool that you spend the time, you know, hosting a podcast. You can educate your network and your audience on just better ways to live and invest and help people learn lessons from those of us that have made a lot of mistakes. Along the way and I've made tons of them.

Indeed, indeed. Well, Justin, thanks for sharing that. Thanks for all that you do and have an amazing afternoon.

Thanks you too, Chris.

Hey Chris, here again. I hope you found this episode valuable. Now I have one more thing to gift you. We have a page for my coaches coaching clients where you can get a free copy of my book as well as much more from previous guests on the show. Just check out nextlevelincome.com coaching to get a free copy of my book, audiobook and much more. I'll send you a copy of my book and cover all the shipping costs as a thank you for listening to the podcast. Also, please like share and take just 90 seconds to give us a rating on Apple Podcasts.