Ep 222 - Marriage, Business, & Investing

Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group, family of companies. And welcome to another episode of our.

Podcast, which is called Freedom through Passive Income.

That's right. And welcome to another episode. This one is called Marriage, Business, and Investing.

Yeah, I thought this was a really good topic because we get asked a lot, how do you guys live and work together? You're married, you're still happy. And I did a Facebook post in Freedom through Passive Income, that group, and I had said, how many of you guys are on the same page as your spouse in investing? And I'd say over half of the answers were, nope, one's conservative, one's risky, or there's just different conversations about it. And so I just thought, again, we're at dinner, and I'm always, like, thinking of different things, and we have topics, and I go, and I'll text myself, oh, this is a good topic. So this is one that I texted myself just a couple nights ago. Might have been last night. I can't even remember.

But this last week has been sort of a blur.

Yes, it really has. So I thought we would just, you know, have a fireside chat about marriage and business and investing and let people kind of hear what our lives are like.

Right. Well, it's. It's funny. This goes back way back in the day when we first met. We were working on cruise ships. Yeah. You know, and so here we are, we're working on cruise ships, and our cabin was about maybe 8 foot by 10 foot.

Yeah.

You know, and so we're in tight quarters, you know, and we did that for a number of years before we got married. And I remember when we were getting married, at our wedding, my brother, who is my best man, says, you know, I have no worry about these two in their lives, because if they can spend eight years working on a cruise ship and not killing each other, I think they're going to be just fine, you know, And. And it's. I don't know, maybe it's just we just started working that way and. And it's just. We've worked out great. It was we, you know, we accommodate, you know, And. And we. It's funny because people. We did something recently, and the person that we were doing it with, she just started laughing and she goes, you two are the exact opposite.

We are.

And it's funny because we are, but yet we aren't. You know, there's a lot of things that we aren't. We aren't yin and yang, you know, but yet we are. You know, so it's. So that's how you do it. So thank you for. Hope you enjoyed this episode.

Here's an example of our opposites. Our brains are just wired differently. So when we will fold something, we do it the exact opposite of the other person.

Oh, it drives her crazy.

Yeah. And I'll try and go, which way would I do it? Okay, he's gonna do it this way. And I'll try and anticipate him. Lo and behold, he was trying to anticipate me. And we're still doing it opposite way. Like, it's crazy. Everything every time. Like, we both. We're. We're gonna wrap something, we're going to cook something. We're going to mix some ingredients. We do it the exact opposite. It is so consistent, it freaks me out sometimes. I'm like, oh, that is so weird. Why do we. Our brains wired that way.

Oh, it was a restaurant. We were ordering food, and we both ordered the same thing, but completely different, but completely the opposite of each other. And that was. That was what it was. This is more. More than once we do that, and I think it's hilarious.

So I thought we would share, like, some of the things that we've done, because as we've kind of grown, we were so, so flexible in our younger years. We don't. We don't care when we're. We're both pretty good at risk.

I can't even bend over and touch my toes. Flexible. No, I'm just kidding.

But, like, it was a lot. But the older you grow, the more you start thinking about your nest egg and your retirement and the different things. And so we gave each other so much leeway and freedom with our relationship. And we just said, hey, if you're gonna do it, do it right. Buy the best and spend that money. We only live life once. We've had all these things that just allowed us to kind of do whatever it is we wanted. And we've lived such a great life. I have no regrets because we've just done so many things at a young age, including travel and all that stuff, including the money that we've spent that now we started to have to make changes because we don't want to keep on just going, hey, spend whatever you want. Because the more we make, like, we're just going to keep spending it. And then what? Somebody called it an inchworm or. You and I just had this conversation this morning about. You're a creeper. It creeps up on you. Like, you can say, but I'm not a Creeper.

I just want to make sure that that's straight.

True.

True.

So it was like, it's something that, like, it creeps. And I think it might have been Arianne and Chris. Like, it creeps up on you. And so, like, if you're making $10,000 a month doing something, and then suddenly you get a raise and you're making 12,000, or you bought an investment property, somehow you got more income. Now you're at 12,000. Well, it's so easy to kind of go, oh, shoot, I have no more passive income or money that I was putting into investments or in savings, because I just creeped right up from that 10 to 12,000. And we've even seen this with this new Florida house. I said, oh, we just jumped from this payment to this payment. I was like, crap. But, hey, this is kind of the move that we wanted to make when we got at this age and we wanted to live in Florida. And it's got some cool asset protection pieces, and we're getting, like, $150,000 worth of equity right off the bat. I was just like, all right, if it's meant to be, it will be.

That's right.

And it's meant to be. So we are moving. But that's also things that just creep up on you, and suddenly you're spending so much more money than you anticipated. So we like to do now these monthly checks. Not monthly, really. We need to probably it monthly. But we do these checks where we go. Do we need all this? Yeah, and we go X, X, X, X, X, X, X. And we.

I actually do that. I actually do that way more than you know.

Yeah.

Yeah. You only do it whenever I come and show you because I just want to see if there's anything on there that you want to get rid of. But I do that more often than you think.

Yeah.

Because it's like, I don't need that. I don't know that that's out of here.

Yeah.

Yeah.

So, yeah, so that's been a good learning lesson. One of the other things that we talked about was having separate bank accounts. So we've done everything, including all of our business, our checking account, savings account, whatever it is. There's nothing that I own that you don't own. There's nothing that you own that I don't own. And that's just how we've lived our life, because we've really kind of. We met each other in a time of our lives where neither of us had anything. So we felt like that as we grew and as we built things up, we both deserved all of it.

I got nothing. You can have half of it.

But now that as we have more money, he likes to spend money on things that I don't necessarily want to spend money on. We just did this podcast about collectibles and nice cars versus passive income. So I'd rather take my bucket of money and put it in an investment that are going to give me passive income sometimes, not all the time. You want to take your bucket of money and buy something cool like another car. And so I'm like, okay, if we're going to do that, let's actually separate our bank accounts. I get 20,000, you get 20,000. And I'm going to spend my 20,000 this way, and you can spend your 20. And then someday it's going to be at 50,000 each, and then 100,000 in each, and then we'll just keep on going. But we'll have this. This is so totally apart from charitable giving and, you know, things like that. There's still things that we do together, right? The income comes in. We pay tithe, we pay our bills, we pay. You know, and then. And then we're thinking about taking this separate. We haven't even done it yet. So this is just a podcast about. We're just. This is a Fireside Chat. We have no script whatsoever. We just said, let's talk about business and marriage and investing and sharing the conversations that we've had. Because a lot of people talk about this who are married. We are. So, anyway, so I'll just get back to the point that we were talking about doing all of this collective stuff that we do together and then going into. And then separating it so that you can do some of your stuff. And I'm not stressed out that some of our money is being spent on something that I wouldn't do. And you're not stressed out that you want to buy this nice car and you deserve a nice car because you work very, very hard. And Danny wants to go invest in passive income stuff.

Right. And plus the stuff that you invest in, I get half of those.

No, stop. We did have this joking conversation. I was like, uh, that was my money. That is my passive income.

Well, then you don't get to write in my car.

So this is a perfect example. Right? Like, and I will say that we're. I want to give one more pointer from Chris and Arian that I learned that I thought was really cool. And we have. We're usually on the same page, so we don't we've never had to do this, but they were talking about how she wants six months of expenses, I think, you know, in reserves, and then he wants 12 months of expenses in reserves. Like, he's just a little bit less. He just wants to be safer. And so what? Something that he said, I thought was really super powerful, and it was the person who wants more, you both have to meet them. So she wants six, he wants 12. They need to have 12 months because Chris can't sleep at night if they only have six. Yeah, right. And so that's not fair to Chris in that marriage and that relationship. I thought that was so. I was like, I never even. I would have, like, said, can we go in the middle? Like, let's go to nine. So I'm really sleeping at night. And you're like, okay, I'm only three months off. Right? Something like that. But I thought that was really cool. But I'm going to end with this. My ending of this is that I do feel that you and I are blessed because we built the businesses together and we're in real estate together. So when we're out on date night, we have so much to talk about. That, yeah, it is work and it's. But it's like a husband and wife conversation. It's like, how was your day, honey? And we literally do that because I don't know what you're doing in your office, and you don't know what I'm doing. Heck, you learn half of the stuff I'm doing in my office on these podcasts. So we can talk about real estate. And it's not necessarily that we're still doing business. We're just talking about each other's day and sharing information that is very engaging for both of us because it is our lives and it is our business. So there are circumstances where other people might not experience that level that we have. But I just think it's all. I think there's lessons in all of it. And I think that you have to just figure out how to have the win for both of you, whatever that may be. And you can do the book that we just talked about, the Road Less Stupid. And then you can ask yourself a question. Use that hour in the morning going, how me and my husband, or me and my spouse find this win, and you can just write down different ideas, and then at dinner, then go talk about them.

That's right.

Right. All right. Do you have anything else? Sorry, I was just. Just sharing all of our miscellaneous nonsense. You probably didn't want the whole entire world to hear.

Yeah, no, I'm fine with that. But I do have to complain about the girl that's in the office next to me. Man, she talks so loud. Oh, my gosh. I can't get anything down my office.

My walls are thin. You're always like, so I heard you talking to so and so.

I know what meeting you're in. Well, we hope that you enjoyed this episode. Make sure you're heading on over to our website, Freedom Capital Investment to join our or Freedom Capital investments dot com.

Yes.

To join our investor club.

Yes.

And also we have the swag on there and what? Danny's got the hat on Invest Smart, Live happy.

That's right.

But also we're on all the social medias and all that fun stuff. But we like to end all of our episodes with Invest Smart, Live happy.

Bye, everybody.

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Sam.