Russ Morgan & Joey Mure - The Formula For Financial Freedom

What you invest in should line up only with what you want money to do and what you want your life to look like.

Right?

So, for instance, I mean, somebody says, Well, I heard 401k is a really good thing for me to do. Okay, well, why? Well, you tell me, what are you really trying to accomplish? Well, I want to be financially free in the next 10 years. I want to be able to, you know, work wherever I want with whoever I want, whenever I want.

Right.

Okay, well, if you put money away into a 401k, you're inherently going against what you just told me.

This is an intro. Intro, intro, intro.

Hustle and Float Shark with your boy Matt Wolf and Joe Fear.

Hey, what is happening? Joe Fear here. Matt is not with us in this intro, but that's okay. We'll hear him in a minute. In the episode this time, we have a couple of other dudes on the microphone. They are podcasters, but they're also wealthy folks. I'll let them kind of get into how they do this. They approach financial freedom for business owners, entrepreneurs, and really anyone in a totally new way. Their names are Russ and Joey from Wealth Without Wall Street. That's Wealth Without Wall Street. So basically, these are two guys that have this financial background that's incredible. And what they're doing is they have brought in a bunch of people, a bunch of experts in the financial space and financial advisors, different business owners, investors, individuals that have a financial understanding. And they bring that together and create really strong principles and different, basically community and trainings around how to use money and actually get financially free without the stress and without Wall Street. So in this episode, we're going to cover the four steps to financial freedom, among many other things. And I just wanted to shout out a free offer that they gave us, and it's actually one of the coolest free offers that we've had on the episodes this podcast, and I've actually joined it myself and have been nerding out on all the money training. But you can go get that@wealthwithoutwallstreet.com hustle wealth without wall street.com hustle. And of course, we have all the notes that we are taking on this podcast episode for you. So you don't have to. You can still take them if you want, but, you know, save your hand and save that risk. You don't need to write. Just let us do the writing for you. So you can get that@flowchart group.com. that's flowchartgroup.com that group is going to give you not only the Facebook group where we're all hanging out with other cool folks from the podcast and guests, but you're going to get the notes from this podcast if you're quick. Within two weeks of this episode going live, you will get the notes. So you should do that because they're going to cover a lot and it's your financial freedom at stake there. And then, of course, we have Ahrefs, our sponsor. They are our go to SEO tool. And a lot of our episodes have actually been featuring guests that use Ahrefs. And we've just been kind of been nerding out on all the different sections. And one of the more recent things that we heard about of a really cool aspect of using Ahrefs is using their content explorer. It's a great way to discover what your competitors are doing and other people in your niche and, you know, kind of drum up some ideas around content that you should be creating so you can kind of mine other people's content efforts and how they're ranking and, you know, the difficulty behind this and really start to see more of a picture without starting with just a blank page. Now you can actually see what, what other people are doing and how you should probably show up there as well and then do better because you're gonna have all the cool tools inside of Ahrefs. And it's even cooler because they have a $7 day trial that's available to you right now at Ahrefs. That's a H R E F s dot com. A H R E F s dot com. Go get that trial. Go sign up. All right, take a breath and let's go head over to Russ and Joey. All right, Russ and Joey, we're on. How you guys doing?

Good, man. Thanks, Joe. Thanks, Matt. Thanks for having us. Excited to be here today.

Sure. This is rare that we have a duo and a duo in the same location. So this is. I like it. It's way better than having all these call ins on Zoom and all that stuff and laugh.

But we got. Yeah, we. We. What we. The three of us. I know Matt wasn't on there, but we chatted maybe a month ago, talked about what you guys are doing at Wealth Without Wall street, the course membership area. I think there's a lot of fascinating stuff to explore there, but also just the way that you guys approach financial freedom. And I think with entrepreneurs listening and business owners, it's going to be very enlightening, I think, because there's just like some simple systems that you guys how.

Did you guys get connected? I don't even. I don't even know if I know the story.

I usually remember this.

Do you guys remember? I feel bad.

I feel terrible as well. I want to say. Was it Whitney Sewell?

No, no, no. I'm. I'm drawing a blank as well. Joe.

Guess. I have a guess.

Who is it, man?

Oh, it was the attorney.

Oh, Dana Robinson.

Dana. Dana.

That's right. Okay.

My guess would have been wrong. I was gonna say I thought it was gonna be through Adam Schobel. Cause I noticed you guys were on his podcast as well.

Oh, yeah.

Okay, cool.

With a lot of friends, it all runs together. I mean, most of us podcasters, right, we're always connecting and networking. And a lot of us, like me, are like dogs. We remember faces, not names. And so it all kind of gets jumbled in there, but. Yes, yes. Thank you, Dana.

Shout out to Dana.

Previous guests we've had on, too. All right, so let's. So I think the main points we're going to chat about are the financial elements that you guys speak about. I know you have four steps to financial freedom. I think that's going to be enlightening. You got the membership site and then podcasting. It's kind of like this trifecta we'll try to hit on during this session. So take us back, I guess, with you two. How do you guys form this partnership? What's your story that kind of led you up to this point?

Well, I'm hopeful that as you're listening to this and you're an entrepreneurial person, you may have had some questions, like I had early in my career, I was in the mortgage business, and I was making great money, but I was on 100% commission. So I wasn't technically like a business owner, but I had to operate like a business owner because my income was never guaranteed. And so putting money away into things that I couldn't touch for 30, 40 years really was unnerving to me. And I was always, you know, worried about, man, what if I have a really bad quarter or the end of the year comes up and, you know, rates go up? Or something like that. Anyways, throughout all that time, I met Russ. We were friends at church first. And then he, out of the blue, he's like, hey, man, I want to start sending you some referrals. And I'm like, sweet. That's like, the mortgage person's, like, golden. You know, he loves hearing that. And so I'm sitting down with him at lunch. He's like, hey, in order for me to send you these referrals, you got to read this book. I'm like, okay, that's fine. He's like, and it cost $20. And I'm like, dude, you just asked me to read the book. You're gonna charge me to read the book? It's kind of low blow here. But I did, and I'm grateful that I did because it just totally changed the way that I was thinking about finances and dramatically changed the course that my family was on. And over four years, I got so excited about it. Compelled. Even though I was making over $300,000 a year comfortably, I'd kind of risen up through the company. I went home to my wife one day who was pregnant with our fourth daughter, by the way, and I said, hey, by the way, I think I need to go and do this full time. I need to be teaching people the same things Russ has taught me. And I was kind of reeling back, like, what is she going to do here? I might get slapped for telling her this. And her immediate response was, you absolutely should do this.

Wow.

And that was a wake up call to me. It's like, wow. Yeah, there is something behind this. I'm compelled. She's compelled. Let's take a step forward and put it all on the line here and start from scratch.

This company with Russ, and that was what, 2014.

Yeah.

And shortly thereafter. So I was working as a typical financial planner up until 08. And this book that he referenced is a book called Becoming youg Own Banker. And it just is this thought process of taking control of our cash, putting our cash in a place that we all can access and use. But then when you have money, you have accessibility to cash, then the question is to be answered. Where are you going to put it to work?

Right?

Because at the end of the day, either we're going to keep working for money or we're going to get money working for us. And I knew in my previous life as a financial advisor certified financial planner that I'd been dividing people for money and that money supposedly was going to be working for them. But, you know, it went poof and went away like Pizza Dragon. Right? And I was thinking, well, I need to really know better how money works. And this book started like, enlighten me on that journey. It started pointing me in the direction. So I shared it with Joey and. But yeah, I was still at a financial firm thinking like a business owner, but really operating as an employee with some self employed aspects. And so when Joey came to Work with me kind of compelled me and encouraged me to say, hey, let's take this on the road. Let's you and me go do this and start our own business and start sharing wealth without Wall Street. And when we did, we ran into a lot of hurdles, as you might imagine. We were good at talking to people and influencing people, but not great at managing people. You know, lots of, lots of new things were coming at us. So it took us probably a year and a half or two. And then 2017 was kind of our breakthrough year. We launched the podcast Wealth Without Wall Street. And that name, which was what we named the podcast, became the company name. We were operating under some other brands at the time. And that really just, that opened the door to meeting just amazing people, people who were already on the same journey as we were, which was trying to get our time back and to be more financially free. And we just started learning new ideas. And so that opened the door to 2019, where we launched a community. And now we've got a little over 3,200 people in a kind of a private off platform community that, that we operate. And it's just been kind of an amazing journey to see how all these little steps have unfolded and, and, and led us where we are.

That's. There's a lot of like, little things in there that are. I think I, I love the story. And you said something earlier on about the whole. Joe, you said it not guaranteed income, you know, on commission only. But think about the entrepreneurs listening here. That's almost every entrepreneur on the planet. Nothing's really guaranteed. So that's what fascinated me originally when I got connected with you guys. It's like, wait, hold on. These are two entrepreneurs, Joe. Even more so back in the day with the commissions, you needed a system. So I think that's what's super powerful with what you guys are doing. And then it's the name wealth without Wall Street. Russ, you talked about 08. It's like you saw everything just kind of poof right there. So you're teaching stuff outside of the stock market from the most part what it sounds like, right?

Yeah.

And it is really hard, right? I mean, on our show we reference the Wall street mindset and we say it's a mindset because it creeps in. It's these things that we've been taught from a young age and just accepted as truths that invest in our 401k and stock market mutual funds. That's what smart people do with money. And I'm not trying to say if you do that, you're dumb. It's sometimes dumb. But one of the things as entrepreneurs, we know that we are uncommon people who go out and create businesses that have no guarantees as to whether or not, as you said a second ago, Joe, whether or not they'll succeed is very outside of the box. And what we found and what we experienced ourself is that the typical way of saving money and waiting till 65 or 70 to ride off in the sunset supposedly and enjoy it was not good enough. Like, I don't want to wait 30 years, 40 years to enjoy money. There's got to be a different way. And so what we started uncovering along that road for ourself is that what the most successful people we saw, the people who were actually taking more time with their family than they were working, were having mailbox money. They were having money come to them. And they weren't necessarily investing in the typical things everyone else was investing in because they knew what to do. And what I realized when I was an advisor, I mean, let me take you guys back 2004, I'd been out of college four years. My dad was a contractor, my mom was a teacher. The four years prior, I was managing a company.

A branch of a company for enterprise rent a car. So I knew nothing about money. But yet with, with a couple of hours of study, a couple hundred dollars, I got licensed to be able to tell people I was an expert. Yeah, and this is very common. And you probably know people like this. They got out of college, they were your drinking buddies, they were doing dumb stuff that thankfully we didn't have YouTube.

And that's true.

And Twitter and Instagram and all that stuff. Most of that stuff cannot be found. Right. This is pre cell phone days. All that stuff doesn't exist. And the next thing you know, they're giving you financial advice. Like, wasn't I loaning you money for beer money the other day?

You just spent it all and never got my money back.

And that's the world that I came from. And I was in that world, like, and for two years I had that. I knew that I didn't know anything. But some people gave me money anyway. And thankfully they did.

2006 happened and I was like, oh, I got this. I know everything. At this point, I was studying to become a certified financial planner. I was really getting that confidence, pouring that education on. And man, by the time 2008 happened, it was like, what, man? No, just when I. Just when I felt like I knew what was going on and the beauty of that is, thankfully it happened in the first four and a half years of my career and not, you know, I wasn't 25 years in and not willing to make a change because that early on I was willing at that point to say, okay, maybe there's something else that we need to really look at.

Well, I think this is what this conversation we can get into the meat, but there's. We were listening to Naval Ravikant recently on. Was it Tim Ferriss? Yeah. And I think he was him that said financial education, just learning a little bit about how money works as an entrepreneur is going to just set you apart so much more than almost every entrepreneur out there, business owner, if you just understand how money is flowing in, what you do with the money. Because so many people are really good at making a shit ton of money. I really a lot of money in a launch, let's say a product launch, but don't know how to hold onto it. We know a ton of friends that have done that. Millions of dollars and then very quickly in debt, or they're just unhappy with whatever their situation looks like and they just don't know what to handle it. So I think it might be a good time to dive into some of those four kind of key principles that you guys have to share with our audience so they can kind of start on that path.

Yeah, I would say just to kind of add more fuel to this. As an entrepreneur, you actually know a lot more about how money works than you should give, than you probably are giving yourself credit for. Because as you run a business, it's all about cash flow. And most people, they've been taught that I need to be separated from money and just leave it over here, and it's going to be. It's going to take care of itself, which is totally bizarre. It's like it's the opposite of what we do in our businesses every day. So what? But to kind of back up the four steps that you were talking about. And this has really come as a result of our process. Right. The first step is clarity. If you don't know, like, what most people do, unfortunately, is they come to us and say, what should I invest in? And be honest with you, it doesn't matter. What you invest in should line up only with what you want money to do and what you want your life to look like.

Right.

So for instance, I mean, somebody says, Well, I heard 401k is a really good thing for me to do. Okay, well, why? Well, you tell me, what are you really Trying to accomplish? Well, I want to be financially free in the next 10 years. I want to be able to, you know, work wherever I want with whoever I want, whenever I want.

Right.

Okay. Well, if you put money away into a 401k, you're inherently going against what you just told me.

Hmm.

Right. If. If I don't. If you don't tell me what you want to accomplish, then the investment doesn't matter.

Right. It could be.

I mean, it can be going totally against what you're thinking. So what we really like to do is to line up and say, what does an ideal day look like for you? And the hard part is giving yourself the permission to do that. Right. Sometimes your life looks so vastly different than what you really want it to look like. You can't even dream that big. Like, you're not even giving yourself permission to say, yeah, I do want to work a couple hours a day and manage some affiliate income and manage some online businesses or whatever it may be, and allow those things to fuel my lifestyle, to cover my expenses so that I can travel more, so that I can spend time with my kids. Whatever the goals that you have for yourself, and once you've gotten really clear on that, then you can take the next step.

Well, I think when you're in clarity, too, you have to sometimes remove and challenge all of those belief systems that you're bringing into it. And one of the questions we ask first when we meet someone is, if money wasn't an obstacle, what would you be doing? And it's shocking to me how many people cannot truly answer that question.

Accurately. And what I mean by that is, they may give us an answer, but what we find is, as time goes on, they come back and go, hey, you know, you asked me that question at the very beginning. I've thought about that, and what I told you is completely wrong. No, this is what I want. Because we've gone so far in life that we don't even believe what we think is possible could actually happen. So we don't even really give that answer.

Right.

Because it's like, well, or we give what our friend tells us their ideal situation will look like. And we have people that say, you know, my ideal situation is that I could drop off and pick up my kids every day from school because they don't get that opportunity.

They're working.

They leave the house before the kids go to school, and they get home well after the kids are back home. And there's just so many things that when we get clarity to what we want, then we can start moving in that direction. And here's the thing. As entrepreneurs, you mentioned how we're great at making money, but also time. We're also great at making more jobs for ourselves.

Dang right we are.

I mean, you know, like we, I can't stop creating businesses and just said.

You have a ton of ideas all the time. We do too. I'm sure, Joe.

You do.

And like we just feel like it's this, what? There's a book even. It's like, who? Not how. It's not thinking. How do I do it all? It's like, no, who can help me out? That's kind of been helping us at least.

Yeah.

We hired a guy to be kind of a personal COO for our business for a short period of time. And in that timeframe, he said to Joey and I, I want you to write out exactly how much money you need to make in order to do everything that you want to do. And I don't want you to limit it. Like, I don't want you to think like, oh, well, my minimum bear expenses would be this. He goes, no, like if you want to have a second home, that needs to be in the budget. If you want to travel to three nice places a year, it needs to be in the budget. Now it's not like I need to get a, you know, a Learjet kind of thing.

Right.

But in reason. And so we wrote a number down and he said, perfect. Where are you at in relationship to that? Now we're going to work to where you hit that point. But from that point forward, every dollar you make over that, I want you to reinvest that into the who. Right. I want you to be reinvesting that into the. And the processes that will move you from an S quadrant business, as Robert Kiyosaki would say, to a B quadrant business so that those processes and people are creating income. And you keep reinvesting that because you don't need more money. More money doesn't make you any happier. Now obviously not having any money doesn't equal happiness either. So you got to find that level. But once you go past that level, actually I've heard about the diminishing returns on it. And so I think that's the part of clarity. And that's why it's so important in our four step process that people really understand and challenge the belief systems and know what they want, create time, reporting for themselves, pick out their ideal day. And once they do that, then we get into the financial stuff, the stuff that we love the stuff that we geek out on. And over the last 15 years, I've become pretty good at. You know, when I first got in the business, I didn't know any more about money than we wouldn't have had.

You on the podcast.

Yeah, I would have been a good conversation, but it would all just be make make believe. Right.

Drinking beers instead of.

Now we speak from experience. Like every time we get on our podcast, we share the lessons that we've learned. We actually, we share our passive income report every single month. Our actual passive income report dropped this month for, in October, for the month of September. And we share. We're open. It's not beautiful right there. Still has things to go, but when we know what we want, we can share. So control for us is we built a course out and we give your audience, if it's okay, access to it.

Please. What's the URL? Let's just call it out now.

Yes. Wealthwithoutwallstreet.com hustle and in that we have many courses, but one of them is the Financial Freedom 101. And when you go through this, one of the first couple of steps in there, getting control of your cash flow, knowing where it's going, like you said as entrepreneurs, great at making it, terrible at keeping it. And one of the things I've learned is that we get so busy, we don't take time to do it. And so we built out courses. Now I will say this information is garbage without execution. And so we've also built out some kind of live group trainings where people can get involved and they can actually get the accountability. And obviously that comes with money. Right, because we have a team and coach who helps with that. But the fact is, is that if we get access to our money, we get control of it. We know then the decisions that we can start making from that day forward, that will get us closer to some of those goals we set in step one.

Well, and I'll add about. So in that second step of control, we start talking about the financial decisions that we need to make. And part of that comes from finding your automated budget. We have a course there called Automated Budget and knowing how your money is going in and out, you can start to make some changes to that. But if I just came out of the blue and I just said, hey, you know, Joe, a 15 year mortgage is crap, you'd be like, okay, what do you mean? Like, why? Why would you say that? Well, in light of my clear goals that I set for myself, I want to create more passive income than I have monthly expenses, then my mortgage needs to be the lowest possible payment it can be. And paying it off in 15 years is not nearly as important as me getting freedom today.

Right.

So now I have a framework. Now it makes sense why I would look at that cash flow differently than before I got clear on what my goals were.

Right.

And unfortunately, the financial advice that's out there is that they teach certain things disconnected from what your clear goals are. And they just assume. They assume that you want to just retire when you're 65. And so if you want to do that, then you should do this.

Right?

But If I ask 10 people, hey, would you rather defer your life until age 65 or retire from what you're doing in the next five to 10 years? I mean, there's just not a lot of hands that are left down. I mean, they're all up.

Right. It's true.

So. So anyways, all that being said, in control, in that control step, we are talking about cash flows. We talk about your budget, we talk about paying down debts.

Right.

In fact, there's a course in there called Pay Down Debt like a Boss.

You have to say it like that when you're taking, like, I'm signing up for Paying Down Debt like a boss.

There you go.

Meet it. Well, in that course, it creates understanding. Like Joey said, the framework. I mean, have you guys ever had, you know, like, student loan debt, car loan debt, mortgage debt, credit card debt, and you said, I wonder which one of these I should pay off first.

Yeah. Yes. They're not equal.

I have extra money. What should I do with it? Should I. Should I pay off this debt I have, or should I go buy this rental property, for instance, or whatever the thing is, or invest in my business? And a lot of times we're kind of paralyzed by not knowing what's the right decision, and we make no decisions. And so inside of that course, we actually created this priority payoff guide that gives people a very clear cut and dry. Put your debts in there, put the payments in there. It gives you a score, and it says what to do with the money. It gives you that understanding. I was doing it this morning with a coach, and she was. This is a business coach. She trains people all over the country, makes lots of money. You know, great entrepreneur, but yet she still doesn't know what to do with money. Right. She's great at teaching people how to make money, but not how to actually keep it herself. And I started doing this process with her, and she started putting in. She put her student loan debts in there, put her mortgage in there, she put her credit cards in there. And all of a sudden it popped up in this danger zone, the inefficient debt. And her eyes widened and then all of a sudden she started thinking of things that she hadn't been doing with money that would allow her to help fix that problem. And I said, just think, just by going through this one step, you did something and it unlocked your brain in order to create money or save money that otherwise you wouldn't have. Because, you know, we get busy, we just let it happen. I mean, how many of us have ever signed up for the seven day HBO trial and seven years later we still haven't watched it, but we're still paying for it.

That's right.

All the time we have.

These things happen.

Absolutely. So it seems like there's some simple principles and systems you can do and they're all in. That's in the free course as well that you mentioned.

Right now the financial freedom course is about to be a paid course, but we want to unlock that for your listeners for free. That's a huge benefit.

Thank you.

Go ahead.

Oh, go ahead, go ahead.

No, I want you to finish the vein you're on because I was going to sort of switch topics a little bit. So go ahead and finish it up.

Okay. Well, in that control step we then take, as we've gotten really clear, we've gotten our cash flows kind of organized. Now we potentially in most, most cases find money that we had that we didn't know we had.

Right.

Money that we had directed somewhere else that now we can put into some sort of savings. And that's when we go into building your opportunity fund.

Right.

Because now if we can really save in a more efficient place, we can then leverage that into our third step, which would be passive income, like growing and picking a course that you want to then build your passive income.

So Matt, I'm going to ask you, do you have an idea of how you're wired and how that should translate to the types of assets you're buying? Have you ever done any sort of analysis on that?

I can't say that I have.

And by the way, I didn't either prior to this. And, and so I would go out and make decisions. I was like, oh, a cattle company, that sounds like a good idea. That would be cool. I would like to show up to a cattle auction and listen to the guy do it. And so Joey and I knew a guy that had been buying and selling this very special high end breed of cattle. And he said, look, we can get into this business. We can actually sell the sperm and the embryos and we can buy and sell in this and it's a pretty successful world. I was like, that sounds cool, let's do it. Because I like cool stuff. Why wouldn't I want to do that?

Get excited. Yeah.

Three years later I'm like, why in the crap did I do that right? I mean I. It was not. Even though it was interesting, it was exciting, it was not something I could add any level of value to.

Well, that was one of the businesses that Matt has tried to get in.

Yeah, that was one of the few.

It's more in the horse area. But yeah.

Well, I mean it's interesting. Well so from that perspective. So when we inside of our, our passive income, we call it kind of creating your course, setting your course, picking your path. We have a section in there where we worked with the company disc. Everybody knows the personality behavioral company disc and they actually worked with us. Our company specifically come up with a financial profile to take somebody's pro the way they look at the world and then analyze that from the lens of finance. And so it really helps us. We call it kind of our endeavor investor DNA. When we go out to pick an asset to invest in, we can take that information that's true about us and look at it from that lens and making sure we're matching up. Now by the way, I invest in a lot of things that don't necessarily match up with my investor DNA. But what it tells me is when I'm outside of that box, Russ, you need an implementer, you need this detail oriented person that's going to do those things. Otherwise don't do it. It's like, okay, well great. And so we've done that, that we've gotten involved in some short term rental stuff. We've gotten in some land flipping things. And in those businesses where detail and follow through are instrumental to their success, which I would really suck at, we have operators that we've hired to put in those positions and they're excelling and we're seeing the fruits of that partnership pay dividends into our passive income report. So it's one of those things like we've learned this along the way where we first started out and we're like, well oh, I need passive income. Well let's go get it. And we just start. Let's buy some short term rental properties. Let's invest in this, you know, crypto mining, computers, all of Those things seem really cool, but we really couldn't influence the outcome. We didn't, you know, have any ability to make our end get greater until we started going through this analysis of our profile and then matching up and.

Complementing the areas of where we had weaknesses in.

And so this assessment, it'll essentially kind of figure out your personality a little bit and then tell you these are the types of things you should invest in. Is that kind of the idea?

Well, it's going to give guidance, right. I mean, again, we can give financial advice and from that perspective, that that'd be malpractice. But it does give you insight as to the type of things and the areas that you should be looking toward. Right.

It's like bumpers basically. Kind of keep.

Think about Joey Bolan with those bumpers in the, in the lane.

Yeah.

Strike every time. When he bounces it off five times.

That's both Joey's. That's true.

To each their.

So. So just following along to this, this four step process, this is kind of what I've got so far. So the step one is kind of getting the clarity, right. And then step two is building the Opportunity Fund. Step three is picking your passive income. Right, that, that's kind of the, the roadmap so far, right?

Yeah, that's right.

That's right.

Okay, cool.

And then that, that fourth step is really just cherishing what you've created like your life. At that point, you've kind of quote, unquote, arrived at financial freedom. But beyond at that point, there becomes a whole new set of questions, right? There becomes this set of how do I pass down this knowledge in a legacy plan that is not just passing down assets and dollars, but the knowledge to go with it. Because families that don't do that, they just pass down dollars. It doesn't last, it goes away.

I'll say one thing too, that we've learned through this process because we've experienced it. Joey's family, I worked for the Salvation army, and I already mentioned my family was pretty low income when our business took off. I mean, we had no expectation for the amount of income that was going to come in. And even though we have financial knowledge, still having access to that amount of money, it creates its own problems. And so one of the things that we wanted to do is as we were kind of documenting our journey, is to help people when they reach that level. And it doesn't matter what that level is. Right. It's not like you have to make a million dollars for this to be successful. For some people, they got 5,000amonth coming in a cash flow outside of what they work. That's more than they ever thought it would be. But it goes into knowing how to spend it. And where is. I mean, I talk to entrepreneurs all the time, like you said. I've had product launches or been in some businesses that they went from making 200,000 one year and the next year they're making two and a half million and they don't know where to spend it and they start feeling guilty. And so giving them, like you said earlier, kind of guardrails, helping them understand, where can you spend it and how should you spend it. Sure. We don't need a gold statue of our favorite football coach. Maybe. But there are things, you know, like maybe buying a second home that gives you as a retreat that also can be an investment. And we show them the financial principles of how setting that up could operate very similarly to a 401K. We call it the 401 Lake House. We go through that.

Let's do this. We've been talking about it for years.

Yeah, that's true.

And we show them and help them, you know, sometimes they just, they feel guilty about spending money in areas like that. And we show them how this is the same as doing this, as if you were saving money, say in a 401k. And that's the little things that just some of us were never given. Right. Sometimes, as Joey said, that wealth of knowledge was passed down. But what we find is that in entrepreneurial world that we're in, most of us have learned it on our own. We're blazing that path and we're going to make lots of mistakes, but hopefully we can pass down that to someone else. And so we need to be writing that book of, you know, just nuggets and also experience in it. And when we have places where we can go like that four one Lake House, we can share that with our kids and say, you know, this is how I did it and this is how I want you to preserve it.

Legacy. Yeah. And I know getting through even just step one, the clarity phase, is so damn hard because we're all programmed to some extent from our parents and from our experiences that it's hard to see what's actually possible. And unlearn, unlearning is the hardest thing. And it's kind of like at that phase, you have to kind of unlearn a lot more. And then now it's to this other phase. So I like it. It's like this big cycle that keeps going around. Awesome. Well, is there anything else there or anything, Matt? Because I know we want to do the membership and the podcast. Yeah, I know there's things too.

I'm sure we could probably do like a two hour podcast together because there's all sorts of rabbit holes I want to dive down from what you guys just said.

Oh, it's. And you got a big one there.

Not, not really. But maybe, maybe we can kind of give like the 8020 here a little bit. Like maybe we can give some real practical advice, some. Some tips as far as, like maybe maybe some tips for, for paying down debt or the types of investments people should be looking at right now. Like what's kind of like the 8020, like sort of quick win kind of things that we can give the audience around, you know, getting more financially comfortable.

Well, here's the simple thing. Take out a pen and paper right now and I can tell you what financial freedom is. There's actually a formula for it. It's passive income. And for people out there, that means any dollar that comes in that you don't actively go to work for.

Greater than monthly expenses. And that's the monthly expenses that you spend every single month. Now that didn't have to include the one time ago on vacation or the Christmas expenses, that kind of stuff, what our typical month is. And all you have to do is figure out exactly how much passive income you have and divide that into the monthly expenses that you have and it'll tell you how close are you to that goal. And if you're like me when I was doing this about three years ago and it said zero.

It was actually a positive number. It was a little bit 0.56 or something like that. But I'm not willing to round it up because I did have one rental property. But the reality is my monthly expenses were so high, it was a point.

That is the number that I would say you should focus on. That's your scorecard that tells you everything else. How much money I make in my business, my product launches, whatever it is that doesn't matter. That's good, but it's still not freedom, right? Because we still have to do the next launch in order to continue to pay those bills. So if you'll focus on those things. And like Joey said, when you talk about paying down debt, take that priority payoff guide. And inside of that guide, it will give you an index score. And all you have to do is take your balance, divide it by your payment, and it gives you a number and if that number is less than 100. So if I had a $30,000 debt and my payment was $300 a month, right. That'd be a hundred would be my score. Any number higher than 100, that shouldn't be your priority. That shouldn't be your focus. Any number under 100 on that scorecard, then those are priorities. Those are the ones you want to work to get rid of. And I think that would be some simple, like, how do I affect that financial freedom score in a positive way?

Yeah, no, that's great advice. You know, I do have one more question that's sort of a timely question. Is there anything that you guys are doing differently or recommending differently because of COVID and the pandemic and the way the economy is sort of looking right now? Is there any differences or different advice you're giving people right now?

I don't think that there's been any, like, glaringly different situation. I think part of our natural progress with somebody, when they're going through their cash flows, when they go through that process, they actually lower their cash flows as far as their minimum monthly required payments on certain things. And so it puts them in the least amount of risk for a situation like this. Okay, so as an example, someone's paying a 15 year mortgage, they're trying to get ahead. They think, man, that's going to help me so much. And a pandemic hits and they lose their job. Which. Which person is going to be in a better position? The guy that has a 1500 or $2000 a month payment or the guy that's got $1000 a month payment because he's on a 30 year? Right, those two things just glaringly obvious if you look at it from that same thing that Russ just pointed out, that scorecard, the percentage if my monthly expenses are 1000 more per month versus not, I'm already starting further behind at that number. And so when people have gone through that, like our clients on the whole are not calling us freaking out, like they're saying, hey, I'm so glad that I did this, this and this, because it actually lowered my required payments and my risk.

I would even say a lot of our clients right now are kind of pissed. The market's not even worse because I can see that they've been storing capital and sitting on go.

And they're like, let this thing crash.

Let's do this thing. I mean, Warren Buffett always said, right, like the riches are made in the down markets like this.

That's right. So Anytime you have access to money, that only helps business. Businesses have never failed by being under over capitalized.

Right.

It's always when they're under capitalized. So having money, investing in what you know, investing in yourself is who you know best. Those are just some simples. Obviously individual kind of coaching comes by knowing the person, knowing their expertise and where they are.

Right, right. Yeah, no, that makes a lot of sense. If you set up the way you guys teach, you're much more set up to weather these kinds of storms. Really?

Yeah. 100% love this.

Cool. Cool. Well, I urge everyone to go get that course for one before we move on to some other topics. But yeah, what is it? Wealth without wall street.com hustle? I just have gone through it myself. Not all of the things, but just what I've seen there. I'm just like, okay, these are frameworks that are very simple to follow. You guys are entertaining some of the other educators you have in there as well. So I think it's something for all business owners should at least have a grasp of the principles what you guys lay out there. So thanks for that.

Awesome. Yeah, no problem.

How about the podcast? I know the podcast. This is why we actually got connected originally with Dana. I remember this now. It was talking about podcasts, events, and he said, hey, talk to Matt and Joe. How does the podcast fit in with the business? And you know, maybe we can just kind of discuss how that's relate. Because a lot of folks from our space and just over podcasting in general don't really make that connection from podcast to business or podcast to making money, awareness. So curious what your thoughts are there.

Well, we are. We are failing forward in that realm. Like, and be honest, we didn't even know how to spell podcasts. And when this young guy in our office, man, we ought to start a podcast. We're like, yes, he's brilliant.

Give him a raise.

Do we have to go to a radio station to do that?

Yeah, exactly. And he was just telling us, like, you know, we could talk to our clients on a more regular basis if we started a podcast so it could be a weekly conversation. That's literally what we thought we were doing with the podcast, is having a weekly conversation with our clients. We were a local firm and had no national footprint at all. And so we were just like putting out great content that we knew our clients wanted to hear. And subsequently none of them were listening to it. But all these other people from around the country started raising their hands and saying, hey, can I do these things? You're talking about, like, I've been listening. We're like, what? How did you get our podcast? You know, like, we didn't even understand how it worked. And that three years ago, that really catapulted us into becoming a virtual company working all across the entire country. And it has really fueled our business to be able to run on its own. So Russ and I can be more passive in this business, doing only what we can do and allowing the rest of the business to continue to grow.

Yeah, I would say that was huge for us. The fact that we went from, like he said, kind of a brick and mortar where 75 to 80% of the people we met with was face to face that came in. We had some people that, that we worked with in a couple different states, but most of them had originated here, been a referral from someone here. And then because of the podcast, then, like Joey said, it forced us to move to be digital and virtual. And so then not knowing Covid, right when Covid happened, our business didn't have a hiccup. I mean, we were already working virtual, so working from the house was easy. And we were already doing meetings online. And because.

Our listenership was all over the place, of course, everybody has downturns, but still we had access to people who are having successes in different pockets all across the country, and they still had the same problems and still had the same questions and concerns they needed help with. And it gave us an outlet to start, like Joey said, move slowly from that S quadrant business where he and I were having all of those meetings, to a point where more people were raising their hand and saying, ken, can you guys help me? We were like, okay, we can't, because we don't have the capacity. And so we started hiring coaches. And thankfully for those people, we did. Because as I said before, I really suck at follow through. And, you know, like, I would, you know, I'm great in a meeting, but after that meeting, you asked me to do something. I mean, probably going to forget to do it. And now we've hired people with the skill sets of follow through. Right. You know, they don't necessarily need to be the person who's, you know, can go out and bring attention and to get people interested in the idea. Joey and I are great at doing that. And now they get the better of somebody who's good at all the follow through and taking them through a process and helping them get more out of themselves than they even knew was possible. So the podcast was a great launch for us. And then it just fed into another platform. We mentioned it earlier. Where that course we were talking about in the community resides is we. We initially started a Facebook group. It was really original, and everybody start low friction. Everybody that was in there, we were having some good conversations. But, you know, we all find ourselves, you know, diving off into the wrong type of things. And so we said, well, what if we. We took this onto a separate platform, something that was not social media. That way, if people came here, they were truly coming here just to learn, and they wouldn't get distracted in any other thing other than learning about their goals. And we came up with. Actually, a friend of ours had mentioned it, and Joey mentioned it to our coo, and he went and did the research. A company called Mighty Networks. I don't know if you guys have heard of them, but they have a platform that's easy to build communities on. And we did that, and we kind of played around with it for about three to six months, and then we decided we wanted to take it a little bit more customized. And so we went with Moni Pro. And what that did, it gave us the ability to create our own app inside the App Store. So once you go to that link, the wealthwhitewallstreet.com hustle and you get a login, you actually can go to the app store, download WealthWhite Wall street right out of the App Store, and now it's traveling with you. And that was huge for us. The podcast was a way for us to talk to people, but not really listen to what they were saying unless they called. And when we created that community, we just started calling them to come into it. And then. So now we put names, faces, emails, and it really created that kind of dialogue back and forth to where we could hear what were those daily challenges, what were those things that people were interested in? And then we even took it one step further, where we started taking our podcast guests and doing Q&As. And so the people that were in the community then got access to those live events. And so then they could hear the person on the podcast and have a question that Joey and I forgot to ask, and they could ask it live in that Q and A. And it just, again, it just built and built. And we're excited that we're a little over 3,000 people in there right now. And it's just a really cool little tool.

I love that connection from the podcast because this is something where we do the same. We actually have a Facebook group at the moment, so we're still. Still just getting the baby steps going.

We're in the dark ages of community building.

We have a plan, I promise. But yeah, it's like the podcast is great to get awareness and that widespread everywhere, but it's tough to get the communication going unless you have some mechanism like a community or you're engaging with them or prompting them. And yeah, it just seems like you have. Those are like the three things, podcast, community, and then some kind of scalable membership site, course area. And with those, it's like the trifecta if you have a podcast. And it could. I love the fact that it took a brick and mortar financial planning firm and made it, well, probably not global, but at least nationwide, you know.

Oh, no, we're global. We got at least two people in Kazakhstan. What Strong listeners somewhere over in Asia with podcasting. Right. You can kind of look at the map and you can like, Cambodia is.

Looking strong this year.

You never know.

That's awesome, man.

Do you guys ever. This is. This is just more of a curiosity question with a podcast. Do you guys ever have issues with like, what you can and can't talk about on the podcast in regards to, like, finances and investing and stuff?

Well, we are. Are not licensed to give financial advice. So while we're doing on the podcast is we're bringing on the experts in a lot of these different paths, passive income ideas, and then just asking them our questions and then allowing our community to ask them, like Russ mentioned in the live Q and A section. That way we kind of stay out of that position in really reality is, I mean, we don't want to give financial advice. We do want to give direction and framework because ultimately part of wealth without Wall street is empowering you to make these decisions on your own. And the reason why people think they need a financial advisor is because they have to give them their money to manage.

Right.

In this case, we're not managing any of your money. We're empowering you to take back control, to then start this own path to get there way, way faster than you would given to a money babysitter.

Yeah, whenever we left that financial planning company, I gave up all of those securities license, all the regulation, and with that, I gave up all the headaches that come with dealing with the SEC and FINRA and all the little things. You're right. There were certain things that you couldn't say, couldn't do because it could potentially be construed as financial advice. And today we teach a process. We're coaches and teachers. We're not Consultants. Consultants are someone that's taking all of their information and then saying, okay, this is how you go do it. That's advice. And if we did that, we would be breaking laws. We don't do that. Now we will say, here's what we're doing. You know, like somebody says, well, should I invest in, you know, short term rentals? I don't know if you should, but let me tell you about the 11 short term rentals we have. Here's, here's what we're doing on how they're operating. Well, should I invest in, you know, crypto? I don't know if you should or not, but here's, you know, Joey and I own, you know, 10 mining computers and this is how they operate. And we can talk about what we do, but we never say whether you should do it. I think like Joey said, financial advice is really bad for the most part because it's really one person's opinion and they're applying it to you.

Right.

And they're assuming you match up with them. And this is what's so bad about it for entrepreneurs is that the person typically given financial advice is not an entrepreneur. Are a lot of times they're employees. And the way they look at money and life is a lot different than the way we look at money in life. Yet they're trying to put their constructs onto us. And that's why for us, it never felt right. We always felt like, man, this just doesn't make sense. So then when, and not to mention telling an entrepreneur, hey, by the way, your product launch created $100,000 for you and you, you invested in these different ads in order to promote it. What was the return that? Oh, 10,000%, 1,000%, 100%, whatever the number is, tell me the financial advisor can give you that. They can't. And so it's not in their best interest to tell you to go invest in your business. Because how much money do they make when you invest in their business?

Zero.

They've always got to tell you to give it to them. And so that's what we never agreed with. And so why our model is based upon helping put people in position to invest in their best assets, which is them and their best investment, which is their business, and then helping them learn ways to invest in other assets that they are aligned in some way that bring cash flow to them. So our model is completely different, but we believe it's designed for the 7 percenters. Right. 7% of the people are entrepreneurs. The other 93% workforce. And so we want to make sure our content is designed for the people that. Who we are and who are typically listening to us to match up with that.

I think it's super smart. Get the platform and get all the perspectives and the frameworks all in one spot. I mean, that's. I think that's a way smarter route than giving advice, you know? Yeah. All right, guys. Well, this has been awesome. Oh, what? How can they find the podcast as well? Just to wrap it up there, we're.

On all the major platforms, but just search wealth without Wall street and you'll find us there. We also post all of our podcast episodes in the community that we gave access to earlier@wealthwithoutwallstreet.com Hustle.

Perfect. Very cool. Cool. Joey, Russ, this has been awesome. Thanks for the time, guys, man.

It was our pleasure.

Sue, what's up?

What's up, man? We just talked to Russ and Morgan. I actually.

We did not. Russ and Morgan.

Russ and Morgan. Oh, Russ. Morgan. Sorry. Joey and Russ.

That's right.

My brain farted.

Ew. It was brain fart.

Doesn't it sound so much weirder when you say my brain farted versus, oh, brain fart.

I don't think I've ever heard someone say that. It's good, though.

Yeah. So that was Russ and Joey.

Yes.

I kind of wish we had more time with them, but they actually had another event that they actually had to jump off and go to right after this. But I wanted to go. I was really interested in the sort of financial rabbit holes they were going down.

Well, hit me with the biggies that you got.

Well, when they were sort of breaking down their four step process, I felt like each one of those steps probably could have been like an hour long episode in itself. When they were talking about getting clarity and using assessments and figuring out how much you need to spend on a monthly basis and then making just that much. But when you go beyond that much, reinvest it. Reinvest it in your business. And I would argue maybe you can put some to charity or whatever, but once you. Once you make a certain amount of money that funds the lifestyle that you're. That's sort of your ideal lifestyle. You don't need more money. So keep growing the business, but figure out, you know, more beneficial ways to use those finances. I thought that discussion could have been a whole podcast in itself for sure.

Right.

And then when they. When they started getting into, like, building the opportunity fund and when they got into, like, picking your passive income paths and things, like that, like each one of those, I felt like could have been their own hour long episode.

Yeah. And then the ending. What the getting there faster. The cherish is what they were saying. The cherish phase. Maybe that's where you do more of the donations at that phase because you made passive income and you're good. But yeah, you're right. And I was thinking, because we can relate a lot of. And maybe this is how we do this is we had the four Steps. Well, we've had podcast episodes with other experts, not these guys. But like on the Clarity phase, it had me thinking of the One Thing. So, you know, Jay Papazon and Jeff woods, those guys were talking about getting really clear on the things that are important in your life. And they have this whole like the circle approach. It was page 114. That thing's like in my mind on the One Thing book. That's the one page they said they memorized. It's one page I memorized. Yeah.

The number 114 has other significance to us, but we're not going to get into that either.

It's true. Oh, yeah.

All right. So clarity. I'm like, if you want more clarity. So if you want a deeper dive on that, go search out the J. Papazon episode and the Jeff woods episode, because they're both from the One Thing. And I was also thinking, where was it? It was one of these steps he was talking about. He was like, basically, you make a budget. I think it might have been the control. So step two is, you know, basically write out the lifestyle that you want and figure out, like, don't hold back if you want to go buy another house, you know, like, I think that.

Was part of the Clarity maybe.

Yeah, yeah, it could be. And I was. It made me think of James Altucher that we've had on the podcast.

Yeah, I was thinking the same thing as they were breaking that down. That whole James Altucher episode is kind of about like figuring out how much money you need to make. And it's probably not nearly as much as you think, 100%.

And like with James on that episode. So I highly recommend everyone go there if you have not to listened, listen to it or maybe refresh it again because I really wanted to listen back.

Or grab the notes on it.

Yeah, yeah, that's right. Flowchartgroup.com and get the passive income. Well, actually, that one's not free. You just have to be an EGP member.

You gotta be an EGP member.

It's in the backlog. It's only 15 bucks a month.

But the passive income. Yeah. With him we were talking about with James it was like, here's how you can live the life of a billionaire, I think is what we went for. And I think we even did add in the Learjet.

Yeah. We talked about like flying private and stuff. Not buying but you know, using it as needed.

But you don't need to buy. Yeah, I think that was the big takeaway from altitude. So. Yeah, I agree. Like there's, there's cool deep dives to go into.

Yeah. And I mean like I'm excited to go through some of these courses. I think if we had more time with these guys or if we brought them back for like a four part thing and we broke down each part in a different episode. Which for sure, you know, maybe we'll do someday in the future, I don't know. But if we had the opportunity to do that, it's probably the same type of stuff you would get by going and getting this free course.

I recommend the course and legit. I've been through a lot of it and it's very legit.

Yeah.

And, and it's, it's done in a way where you don't need to have pre existing like financial knowledge and all that. Like and, and it's no joke. Like I've heard Roland Frazier say this to, to me or no, he said this on his podcast and also Naval Ravikant recently on Tim Ferriss podcast saying, you as a business owner, the most important thing to do is have a grasp of financial knowledge and how money works and how you can work with money and have it work for you. Obviously Robert Kiyosaki, that was like the Purple book was the very first one that got Matt and I started, you and I. So yeah, like it's just, that's been in my head for a long time. Even like Roland was saying, just, just read a couple books I think on this podcast on his show wasn't on ours, he named a couple of books. I forget what they are now but like this is a great opportunity.

Well, they mentioned a book, they mentioned becoming your own banker. I'm going to look into that one too.

That's a good one.

But yeah, I mean one of the things. So I was, I was, I don't know if you get this way or not. But you know, now that we've sort of defined who our avatar is and kind of like who we're speaking to, I sort of get in my own head a little bit about, okay, we're bringing on this guest, is this going to be relevant to who we defined as our ideal audience? Right.

No. Our audience doesn't want money or money.

So our ideal audience, we're talking to affiliate marketers, audience builders, influencers, influencers, that kind of thing. And so I was kind of going, all right, we're bringing on these guys that talk about finances and getting out of debt and what to invest in and that sort of thing. And I was kind of like, does this really sort of line up? But after listening to this conversation, after having this conversation with these guys, I'm like, this is like the most important thing that these audience builders, these influencers, these affiliate marketers should be figuring out, right? Like, how do you know when enough is enough? How do you know, like, when you're going and promoting affiliate products and you're just adding another product into the mix, you're sending more emails, you're doing more audience building, you're going more, more, more, more, more, building, building, building, building.

Well, what.

What is the sort of, like, definition of made it in those scenarios, Right?

Or what are you building? Like, do you have criteria to that?

Yeah, what are you building, too? And so I think these discussions are super necessary for people that are trying to be affiliate marketers and audience builders, because what they're probably going to find is you can build a big audience on Instagram, but if you're shit with.

Money, it's going to go away.

It's going to go away, or you're going to struggle to even make it in the first place.

Mm.

And so I do feel like every once in a while, episodes like this are totally necessary. You need to improve your financial literacy if you want to be successful as an influencer, as an affiliate marketer, as somebody that sells memberships, as somebody that does coaching. Any of the types of demographics that kind of fall into who we. We talk to. Like, this is the most important stuff. This, like, getting the financial industry, getting the mindset dialed in. And then I would put the tactics, like, in third place.

Kinda like mindset, right? That's the ongoing joke after we said.

Well, that's what I said. You got financial literacy, you got mindset. And then in third place, I would say, mindset's probably first place, financial literacy is probably kind of second place. And then third place is learning some of these tactics and strategies.

I agree. I know I've been referencing like crazy, but it's because I've been down this wormhole again. But Naval Ravikant, his brother Kamal, has been on the show and text Me earlier, I got to respond to him, actually. It's reminding me. But Naval talked about how he has this whole thing of, okay, yeah, get wealthy, but really it's happiness that you're really striving for. But really he's like, I'm not gonna ignore the elephant in the room. Naval is a billionaire. So obviously different things.

It's easy to say money doesn't matter when you have as much as you can ever want.

Correct. But he's open to say that. And that's when he went back, he was like, let's get you rich first. So the step one is to get you rich. And in these guys, it would be, let's get to your financial freedom first. Get your passive income to outweigh your monthly expenses and your freaking gold. And then another thing I heard recently is if you can, the trick to financial freedom. And I put trick in quotes. Just some Twitter thread I was reading that was blowing up in this space. I think it was around Naval or with Natalia and Interesting guy to look him up, by the way. We'll chat about him later.

Hopefully we'll chat with him later.

That'd be great. Yeah. Is to just save. And I don't know if this is like, this would check with Russ and Joey, but if you're able to save 12 months of living expenses in your account, and I know that's a lot for a lot of folks and trust me, I'm not there. I don't have that yet. But at the end of the day, if you can do that, you can break from this mindset that you have to be in short term thinking. It gets you into long term thinking and it allows you to do bigger and better thinking, like more clarity. And Naval talks about that stuff.

Pretty sure that's the CEO of no dude who was saying that stuff.

Was he saying that?

Yeah, I can't think of his name right now. Andrew.

Andrew something something. Yeah, but he Tiny. He runs Tiny. CEO of Tiny. But yeah, he's. Yeah. If you could stash that away, you kind of break out of this, I guess the society that is like, oh, month to month. Or you got to worry about the payments company. Like, no, break away from that and think a little bigger and you get clarity.

Well, I really, really liked when they were talking about like they kind of went down this rabbit hole of like mortgages for a minute too. Of like a 15 year mortgage is stupid. Well, why is a 15 year mortgage stupid? Well, you want to keep your monthly payments as low as possible because you want your passive income to be higher than your monthly expenses. And if you have a 15 year mortgage, your mortgage is going to be a lot higher than if you were to do a 30 year mortgage, making it harder to get to that financial freedom goal of passive income.

Dude. Yeah.

And I just thought like, I've never actually looked at it from that perspective before. I just, I just haven't. It's not like, you know, I've gone down the financial rabbit hole. Our very first blog we ever wrote was financial, not financial advice. But almost like these are our learnings as we understand, as we try to understand personal finance. And I've never looked at it from that perspective before. Like, my perspective has always been like, I'm going to try to make extra payments in a year to try to get it paid quicker and do all that kind of stuff. But like, at the end of the day, if my main goal is let's just get my cash flow, my passive cash flow, right? Like, I don't have to get up and work towards this money every day. It's just coming in. If I can get that passive cash flow to be more than my expenses every month, then why do I give a shit if I pay it off earlier or later?

Good.

I'm in an excess. I'm in a surplus of income every month. So who cares?

And the cool thing is actually in their course and I promise we're not even making a cent off it of, of taking you to their course. It's@wealthwithoutwallstreet.com although you couldn't blame us if we did.

But this is not an affiliate link.

It's not. Promise you I need to ask them for their paid course affiliate link when they get one. But if you go to their budget course, their automated budget course, I will just tell you right now, if you talk to my wife, she would say, Joe hates the word budget. He freaks out. He, he starts breaking out in hives. Not really, but I used to feel that way. I'd be like, budget, I don't want to be restricted. And I feel like that's maybe an entrepreneurial thing too, because you want to kind of just do anything you want or like I got these ideas, I want to go be able to throw this amount of money. But my wife now heads this up. But we have this budget that's actually very similar to what they have set up. I think Heather, my wife, went a little bit more complicated with it, so maybe we could simplify it. But it's actually working amazing and it kind of Automates, just whatever we need when we need it. And I was looking at their budget course and it relates exactly what you were saying. It allows you to get to cash flow positive faster by not really doing a lot. It's just setting up the right bank accounts, having some systems and the amounts and having a plan with it all know where you're going. But like, like crap. It actually gives you way more freedom, like peace of mind. So I recommend that piece of it. I think that's in the free course. If it's not, go buy it.

Yeah, I mean, what I have in my notes, hopefully this is accurate. You get the tax planning 101, you get the building an automated budget course. You get the infinite banking course, which I believe has to do with life insurance, I think. So you get the paying off debt like a boss boss course, and you get the passive income business course. And I believe all of that is free inside of their financial freedom 101@wealthwithoutwallstreet.com hustle. So just to kind of wrap this up here at the end, we kind of talked about their podcast and stuff, so I was just gonna make a couple quick notes there as well.

Yeah, go ahead.

I think one of the things that they're doing that I found the most impactful from that little piece of the conversation was the sort of blending of an app, a community, and a podcast and just kind of like combining them all into like one sort of umbrella. You go to the app, you can listen to the podcast, you can interact, you can see the, you know, the various trainings that they have available in there. And it's all kind of like a consolidated community and content sort of thing, which is something that we're actually working on in our business. I'm not gonna get into too much.

Detail about that now because you wanna name what?

Well, we're using Members Pro to do it, but there you go. Cause we love Members Pro, but it's still a little ways out before we.

Have those features yet. But that is what will be in there a month. Many other things, Members Pro.

And I just thought, like, the way they've got that set up with the mighty networks and their podcast and the ability to like, actually chat with guests that they've had on the podcast.

Like, it's really cool.

We actually strive, we're trying to do it with our Facebook group right now, but we strive to create that kind of community off the back of this podcast.

I agree. Yeah. And we will soon. We actually have it all architected already. We Were actually chatting about it with our partners, Shout out to Chris Bonetti and at Members Pro. But we're. We're going there. We're. Watch out, Mighty Network.

Going to eat your lunch.

Maybe we'll integrate with you one way or the other.

We'll see. Yeah, we like you.

Maybe. So the other thing is, like, he was just talking about the power of podcasting. And I know we've talked a lot about that and we'll get a lot of support messages of. And actually that was the message when I referred to Kamal. He was asking me about podcast stuff and management and all that. And curious Kamal. He is. Yeah. Go check out that podcast too. Good. Shout out is. If you're looking to actually launch, we do have a solution for you. And we partnered up with a couple guys, Doug and Strickland, and they have a. It's basically a course that gets you up and going quickly to launch your course, but they also have some ways to take it to the next level after that. But I just wanted to shout that out because I think it was just fair and in context. If you're looking to actually start something from scratch, a podcast. You've heard us talk about it now, Russ and Joe, you actually saw how they took a brick and mortar company that probably would have hurt during this Covid thing, but obviously they kind of put insurance on their business and spread it nation or around the world. Go to. Hopefully this link is. You think that's gonna work?

Sure.

Odd launch. Let's hope it does.

Is that the link you told me to make the other day?

No, I'm making this up right now. I don't know what that link is. Unless you want to. I can blabber my mouth until you find that link.

Well, because I made whatever link me to make the other day, I thought it was pod sales or something like that.

I like Pod launch. Okay, Pod launch.

Fine.

Let's do both. Hustleandflowchart.com Pod Lounge. There's going to be a little video of Doug on that page, but he made that page for us. It's like kind of a little special thing for the Flowchart crew, if that piques your interest. I mean, we are not teaching that stuff and we are not going to be those consultants. And we do that for very select VIPs. We just don't have the time for it. But go to hustleandflowchart.com podlaunch and our podcast boys, Doug and Strict, will actually guide you. And they are who we turn to for this Kind of thing for sure. Just wanted to shout that out.

Alrighty, then. Well, just wrapping up then. Let's give a shout out to Easy Webinar.

Yes.

If you go to easywebinar.com hustle, he's hooking you up with a percentage off, a fat percentage off. And basically what EZ Webinar is, is it's a webinar platform.

It kind of speaks for itself.

Yeah, but you can do live webinars, you can do automated webinars, you can do hybrid webinars where it's at a specific, like, live time, but you're, you know, you're replaying a video. It's basically got anything you'd want to do with a webinar platform all built into a single platform. And the reason we like Easy Webinar is because all the other webinar platforms, they're either designed to be just automated or just live or just hybrid or. Or they're very segmented and siloed, and you have to buy multiple different products. Easy Webinar, all in one place. You got it done. It's just all there. Right. So if you go to hustle and. No, easywebinar.com hustle, he's got that discount for Hustle and Flowchart Listener. So check that out.

And the notes, of course. So we told you at the beginning, but if you've liked everything you've heard so far, you're not gonna get the notes of this little banter section, but maybe one day we'll add those. But go to flowchart group.com, that's flowchartgroup.com gets you in our Facebook group, soon to be our other group outside of Facebook. But you'll get the opportunity to also get the notes for this episode if you're within two weeks. And you'll get some other bonus episodes in there for notes. So flowchartgroup.com give us your email. I promise we will not spam you. We will always treat you like our friends and family. Yes.

Not like our enemies.

Me. That's right. Unless you want to be our enemy, then you don't want to be that person. No. Beware.

All righty.

Well, go share this with some friends, y'.

All.

Thank you. Love ya.

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