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JoshuaSheatz2


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00:00:00.000 | Hey parents, join the LA Kings on Saturday, November 25th for an unforgettable kids day presented by Pear Deck.
00:00:06.400 | Family fun, giveaways, and exciting Kings hockey awaits.
00:00:09.600 | Get your tickets now at lakings.com/promotions and create lasting memories with your little ones.
00:00:15.000 | Hi, it's Miles and I'm really old and I love race cars and family adventure podcasts. Goodbye.
00:00:28.600 | This is Family Adventure Podcast, inspiring families to dream, travel, and accomplish epic adventures.
00:00:37.300 | And now your host, Eric Hemingway.
00:00:41.000 | Hello folks, welcome back to Family Adventure Podcast.
00:00:47.100 | And if this is the first time you've come here, then how's it going?
00:00:50.800 | Welcome to the group.
00:00:51.800 | We're glad you're here.
00:00:53.600 | This is the place where we like to talk about family adventure travel, kind of specializing in nomadic travel.
00:01:01.000 | Travel families that just take off and go for a year or more and live nomadically all over the globe or all of the United States.
00:01:08.300 | RVs, boats, bikes, whatever, trains.
00:01:13.700 | We don't have a train family yet, but we're looking for one.
00:01:16.000 | So if you know somebody who's taking a long train ride or trains across countries, we'd love to hear about it.
00:01:22.000 | So anyways, this week we are finishing our interview with Joshua Sheets.
00:01:25.400 | Got into a little bit kind of general ideas last week.
00:01:28.600 | And this week he really dives into a lot of specifics on your budget, how to get a hold of your budget, find out ways you can save money.
00:01:35.400 | It boils down to three things.
00:01:36.700 | I loved how he said it.
00:01:37.600 | How much you make, how much you spend, and what you do with the difference.
00:01:40.900 | And financial planning 101 is spend less than you make.
00:01:45.200 | So there's really only three ways you can tweak it.
00:01:48.200 | Either you make more money, spend less, or invest better.
00:01:51.900 | So we talk a lot about that this week.
00:01:53.700 | That's pretty cool stuff.
00:01:54.900 | And yeah, so we're excited.
00:01:57.600 | So we'll dive right in.
00:01:58.700 | And thanks everybody for listening and for leaving reviews on iTunes.
00:02:02.400 | Appreciate that.
00:02:03.200 | And for joining our email list, we've got some exciting stuff coming up.
00:02:07.100 | We're going to actually start launching a coaching program where we are going to come alongside families and help walk them through the process from start to finish on how to build a plan to get you out of the treadmill onto a traveling life.
00:02:21.100 | And we're super stoked to announce that in a few weeks.
00:02:24.300 | But we just wanted to kind of let you know that's coming up.
00:02:26.300 | And we will dive into the interview.
00:02:28.400 | Enough of me rambling on, all right?
00:02:30.200 | I'm shutting up now.
00:02:31.600 | Okay, let's head into the interview.
00:02:34.700 | Could I add, I prepared a few thoughts that I'd like to share that would be specific to travel.
00:02:41.800 | And feel free to cut this out or to add it in another show and split it out or something like that.
00:02:47.000 | But I think it would be helpful to some ideas that would be helpful around family adventure.
00:02:51.900 | Great.
00:02:52.300 | Could I share?
00:02:53.100 | Okay.
00:02:53.300 | Yeah, sure.
00:02:53.700 | Could because I want to, I don't want to, I want to leave people with some tactics and some exposure to some big picture ideas without getting into like specifics.
00:03:02.500 | But I want to apply the science of financial planning to the science of goal achievement.
00:03:08.500 | So first on debt, I wanted to give some tactics that I think would be helpful.
00:03:12.200 | As far as tactics, here would be some specific suggestions.
00:03:15.900 | Number one, start by tracking your money.
00:03:18.300 | The number one thing that most people do not do is they do not track their money.
00:03:22.600 | If you do not track your money, then you don't know where it's going.
00:03:26.400 | And if you don't know where it's going, you can't go back and say, is it going where I want it to go?
00:03:30.300 | I don't care how you track your money.
00:03:33.200 | I recommend to people that they start with a way that's very tangible.
00:03:36.600 | So sometimes just by being, you know, tangible with it, maybe that means a three of a five card in your pocket and a pen.
00:03:43.000 | Maybe that means a note on your smartphone.
00:03:45.400 | Maybe that means a checkbook register.
00:03:47.300 | Maybe that means, you know, just something where you're actually physically writing it down a notebook every night.
00:03:52.200 | You take your receipts out and you write it down.
00:03:53.900 | Make up a way that works for you.
00:03:56.000 | I try not to say do it this way because some ways work for some people.
00:04:00.100 | Some people like their smartphone and enter that in.
00:04:02.900 | I personally don't.
00:04:04.000 | I would rather carry a three of a five card and a pen and write it down.
00:04:07.100 | But track your money in some manner.
00:04:09.600 | There are a lot of great electronic solutions for this.
00:04:12.300 | So there are a lot of apps that you can use.
00:04:14.800 | There are integrated comprehensive apps.
00:04:17.000 | Mint is the most famous of them.
00:04:19.900 | There's an app called Personal Capital.
00:04:21.700 | These are probably two of the prettiest, most popular popularized.
00:04:26.000 | There are a number of other apps that are more specific, a little bit simpler.
00:04:29.400 | Maybe you can find an app that you like.
00:04:31.400 | But I think there's a lot of value in you have to track your money.
00:04:35.500 | You have to track your money so that you can create what we call a cash flow statement.
00:04:40.900 | And the key of this, I've got an entire show on it.
00:04:43.200 | Eric, you can go and find it in the show notes if you want to link to it.
00:04:45.400 | But I've got an entire show on how to create a cash flow statement.
00:04:47.900 | But here's the key.
00:04:48.800 | Most people, when they're creating a cash flow statement,
00:04:51.400 | they're purely writing down their expenses.
00:04:53.600 | I recommend, that's a good place to start.
00:04:56.000 | If you've never done that, that's good.
00:04:57.800 | But you want to go and you want to track all of your income from every source before taxes.
00:05:03.900 | And then you want to write down all of your expenses to every source.
00:05:08.000 | And you want to go and do it before taxes.
00:05:11.100 | Instead, what many people do is they just take the net that they get maybe on their paycheck
00:05:15.200 | and they write that down and they budget off of that.
00:05:17.300 | The problem is though, that there's 7.65% if you're an employee coming out already
00:05:22.600 | for social security, for employment taxes.
00:05:26.400 | That would be social security taxes and Medicare taxes.
00:05:29.100 | Number two is that there's some amount of income tax being withheld and deducted from your check.
00:05:34.200 | And so I've helped people find tens of thousands of dollars
00:05:37.400 | that they're spending that we can just save on taxes.
00:05:39.900 | I did a show recently with a guy, Justin, from a website called Root of Good,
00:05:46.300 | who retired at 33 and we went through on the interview an example
00:05:49.700 | of where he was able to pay, he had $150,000 income
00:05:53.900 | and he paid his three kids and he paid $150 total of income taxes.
00:05:59.300 | And we worked out that it's possible that somebody could make $150,000
00:06:03.300 | and spend $30,000 on taxes.
00:06:05.600 | If you're looking for a travel budget, I just found a $30,000 travel budget with good tax planning.
00:06:10.600 | So create a cash flow statement and write down all of the pre-tax income
00:06:15.700 | and then write down what your taxes are, work that out.
00:06:18.600 | I've got a whole show on that.
00:06:20.000 | Number two, create an actual balance sheet.
00:06:22.800 | This is another thing that many people don't do.
00:06:24.600 | Write down everything that you own, exactly what it's worth,
00:06:27.600 | everything that you owe, exactly what it's worth.
00:06:30.200 | Then you can look at those things and you can start to say,
00:06:33.400 | "Am I happy with this? Am I making progress?"
00:06:36.600 | So those are the two fundamental financial statements that you need to create for yourself.
00:06:40.800 | That's the first thing that as a financial planner,
00:06:42.800 | when you come in and you're working with someone,
00:06:44.200 | the first thing that you do is you create those statements.
00:06:46.800 | I don't make a big deal about budgeting in the sense of a forward-looking,
00:06:50.800 | "Here's what I'm going to spend on this month or not."
00:06:53.200 | For some people, that's really, really helpful.
00:06:55.400 | For other people, it's really, really discouraging.
00:06:57.400 | So I would encourage people, if they feel like they're not in control with their money,
00:07:01.800 | I would encourage them to really figure out a system of budgeting that works for them.
00:07:07.400 | What's simplest is a legal pad and a pen. Make it simple.
00:07:10.600 | For some people, they like to use a software solution.
00:07:13.200 | There may be something built in with the bank,
00:07:15.200 | but budgeting is forward-looking, tracking is backward-looking.
00:07:18.200 | Budgeting is what affects how much money you have at the end of the month.
00:07:21.800 | Backward-looking just simply tells you what you did.
00:07:24.400 | If you are in trouble, you've got to budget.
00:07:27.200 | If you are generally pretty comfortable, it's probably not so necessary.
00:07:32.200 | So I'm a little flexible on that.
00:07:34.000 | I would encourage people to get very tactical with their finance.
00:07:37.800 | What happens is that it's so easy in today's world to lose touch with your money.
00:07:42.000 | You've got your credit card registered at Amazon,
00:07:44.800 | so you just click "Buy with one click" and there's a new $10 e-book.
00:07:47.800 | You've got your credit card running all of your bills.
00:07:50.000 | You've got all of these certain... You've got all these different things.
00:07:53.400 | What I've found when I've been in financial trouble,
00:07:56.000 | and this is one thing that has helped me,
00:07:57.800 | and I've noticed it to help many people as I've worked with them,
00:08:00.800 | is that I believe both automating your finances
00:08:03.800 | and un-automating your finances is very valuable.
00:08:06.800 | If you're a little out of control, you need to pay attention.
00:08:09.400 | A good way to do that is stop the automatic payments everywhere,
00:08:13.400 | stop the automatic contributions everywhere,
00:08:16.000 | take a checking account and a checkbook register.
00:08:19.400 | The checkbook register is still the most valuable cash flow planning tool
00:08:23.400 | I've ever been able to figure out.
00:08:25.400 | Our grandparents got rich with a checkbook register.
00:08:27.600 | Almost nobody keeps one today.
00:08:29.600 | And I find it incredibly valuable for me to keep a checkbook register.
00:08:33.400 | Write your bills manually, record the checkbook register,
00:08:36.600 | keep it up to date.
00:08:37.800 | That allows you to be in touch with what's going on.
00:08:40.400 | If you're happy with where you're at,
00:08:42.200 | you're happy with what you're saving, with where you're going,
00:08:44.200 | how it's working, then you can take that and you can translate that
00:08:49.200 | and say, "Now I'm going to go ahead and automate things."
00:08:51.400 | So automating is also powerful,
00:08:53.600 | but it's only powerful if you're doing the right thing.
00:08:56.000 | So you can automate your savings, automate your investments.
00:08:58.400 | Make sure that you're actually paying yourself first.
00:09:01.400 | Most of the people all have heard of the idea of paying yourself first,
00:09:06.200 | but the idea doesn't get it done.
00:09:08.400 | Just actually saying, "I know about that,"
00:09:10.400 | doesn't mean that the very first thing you do is save some money
00:09:13.800 | toward whatever the financial goal is that you have.
00:09:16.200 | You have to actually do it.
00:09:19.000 | So figure out a way to make sure that you actually do it.
00:09:22.600 | One of the ways, if you're going through,
00:09:24.400 | there are only three things that you can possibly adjust
00:09:26.600 | from a strategy of wealth building.
00:09:28.400 | To build wealth, and I define wealth whether in a small sense
00:09:32.600 | toward a specific goal, that may be a family adventure goal,
00:09:35.600 | or in the larger sense, that may be toward something like financial independence.
00:09:39.200 | There are only three things that you have control over.
00:09:42.200 | The number one thing is how much income do you have?
00:09:45.000 | The number two is how much are your expenses?
00:09:50.000 | And number three is what do you do with the difference between those two?
00:09:54.600 | So people who are broke, they don't make very much money,
00:09:58.000 | they have high expenses, sometimes those expenses exceed their income,
00:10:02.200 | so they're paying a lot of interest on the difference between those things.
00:10:06.400 | People who get wealthy have a much higher income than they do have expenses,
00:10:11.000 | and so they have a higher income, they have lower expenses,
00:10:14.000 | and they invest the difference between those things wisely.
00:10:17.400 | That's it. That's the formula.
00:10:19.600 | That's frustrating and it's encouraging.
00:10:22.200 | It's encouraging because it's simple, it's frustrating
00:10:24.200 | because you don't know exactly what to do with it.
00:10:26.200 | So the key is to attack it in different periods of time.
00:10:30.000 | So number one, income.
00:10:31.400 | Is there something that I can or should do to increase my income?
00:10:35.200 | This can be as simple as changing jobs.
00:10:37.400 | Most people do not handle their career in an efficient manner.
00:10:40.600 | They're happy with getting a 3%, 4%, 5% raise,
00:10:44.200 | when you could find a competitor, if you enhanced your attractiveness
00:10:49.200 | to an employer, you may find a competitor who will give you a 55% raise.
00:10:52.800 | And it's far easier to swap out employers every few years
00:10:56.600 | and climb the ladders of income, very straightforward,
00:10:59.800 | instead of staying at one place where they're just going to give you
00:11:02.800 | continual cost of living raises.
00:11:05.800 | But in order to do that, you have to become more attractive.
00:11:09.000 | So you have to focus on building your skills,
00:11:11.000 | you have to focus on becoming more employable,
00:11:13.600 | you have to focus on building up.
00:11:15.200 | That may mean a formal certification, maybe you need an MBA,
00:11:18.600 | maybe you don't because a formal certification is not valuable,
00:11:21.600 | but you need to become much more excellent with leadership.
00:11:24.200 | You need to go to some industry conferences,
00:11:26.000 | you need to network within your industry,
00:11:27.600 | you may need to start a blog where you're doing book reviews on your industry.
00:11:30.800 | So something if you're an employee to increase your income substantially.
00:11:34.400 | If you're an entrepreneur, you have a tremendous opportunity
00:11:37.800 | to focus on ways to constantly be increasing your income.
00:11:41.400 | Number two is expenses.
00:11:43.000 | I think there are a couple of ways that are useful to track expense, to do expenses.
00:11:47.200 | Because you started with tracking expenses,
00:11:49.600 | then I would recommend that you order these expenses
00:11:52.800 | from highest to lowest and from lowest to highest.
00:11:56.000 | Many people when they first start to think about saving money,
00:11:59.400 | they automatically start with the little things.
00:12:01.800 | So there's a joke in the personal finance world about the latte factors.
00:12:05.400 | The idea is if you just cut out the expensive coffee, you'll get rich.
00:12:08.600 | That may be and that works great.
00:12:10.600 | But the reality is that some people really love and value that daily latte.
00:12:14.800 | So it may be that it's more effective to flip it around and say,
00:12:17.800 | what are my biggest expenses?
00:12:19.800 | So you see this a lot of times when people get a travel bug.
00:12:22.400 | List your expenses in order of highest expenses to lowest expenses.
00:12:26.600 | For most people, the number one highest expense will be housing.
00:12:31.000 | So start with housing and say,
00:12:33.600 | what could I do to cut my housing cost by 50% or more
00:12:39.200 | without sacrificing my lifestyle?
00:12:42.400 | It may or may not be possible,
00:12:44.400 | but by asking a really big question like that,
00:12:46.600 | you may come up with an alternative idea that will fit your goal.
00:12:50.800 | So Eric, you and Rachel were sailors.
00:12:54.000 | There are tons of people who all throughout a period of time have done this.
00:12:57.200 | They move from a house onto a sailboat.
00:12:59.400 | They don't have the money to go sailing yet,
00:13:01.600 | but they buy the sailboat and they move in there
00:13:03.800 | and they cut their expenses by a massive amount while they're still saving.
00:13:07.000 | That makes the goal be able to achieve much more quickly.
00:13:09.800 | So what can I do to cut this by 50% or more?
00:13:12.800 | And then brainstorm that.
00:13:15.000 | Write that question at the top of a sheet of paper.
00:13:17.200 | Write down 30 ideas to activate the creative juices.
00:13:20.400 | The first 8 may be easy and the last 22 are incredibly difficult.
00:13:24.600 | But be creative, be wacky, be crazy.
00:13:27.800 | I could move into my car, I could move in with my parents,
00:13:30.000 | I could rent out 3 of my rooms on Airbnb,
00:13:32.200 | I could have a roommate, we could move to Japan.
00:13:35.400 | I don't know what the answer is, but be wacky, be crazy.
00:13:38.800 | And then just simply look at those ideas and see,
00:13:40.800 | do I actually want to do any of these?
00:13:43.000 | If you don't want to do any of them, skip it.
00:13:45.200 | Do the exercise in a different way and do something.
00:13:47.400 | But you can come up with solutions that work for your scenario
00:13:50.600 | if you ask that kind of question.
00:13:52.800 | Look at transportation expenses.
00:13:55.000 | There's a common thread in the early retirement community
00:13:57.200 | that what you do is you buy a house that's either close to your job
00:14:00.400 | or you rent an apartment that's close to your job.
00:14:03.600 | Or it can be on a place that you have public transportation to your job.
00:14:08.000 | So maybe you ride on a bus line or a subway stop that goes directly to your job.
00:14:11.000 | So you can sell a couple of cars or sell one of the cars.
00:14:14.200 | Cars are expensive to own and operate, so maybe there's your travel fund.
00:14:17.400 | That's usually for most people, it's housing, taxes, vehicle expenses
00:14:21.600 | are often the biggest categories, followed by food.
00:14:24.800 | So you can say, what can I do to cut my food costs by 50% or more?
00:14:29.000 | And you may be able to find an answer.
00:14:32.200 | So you would eat rice and beans, you would learn to coupon,
00:14:34.400 | you would grow your own food.
00:14:36.800 | I don't know the answer, but it's a mental shift.
00:14:39.800 | Then flip it.
00:14:42.000 | And at some point in time, this is not all exercises for one night,
00:14:46.200 | this is an ongoing period of an action plan.
00:14:49.400 | Flip it on its head and start with little expenses and say,
00:14:52.600 | what can I do with this little expense?
00:14:54.800 | I'm spending $60 a month on my cell phone bill.
00:14:57.000 | My wife and I have iPhone plans that cost $10 a month with Air Voice Wireless.
00:15:00.200 | So if I can save $50 a month on my cell phone bill,
00:15:03.600 | that's a major savings.
00:15:06.600 | So flip it and look through all those little expenses.
00:15:09.800 | And I like to tell people, optimize one thing every month.
00:15:13.000 | So pick one category and spend a month on that category.
00:15:16.200 | Brainstorming, what are my ideas, what could I implement?
00:15:19.400 | Maybe you need to research cell phone carriers,
00:15:22.600 | maybe you need to shop your auto insurance.
00:15:25.800 | Some people can save $1,000 a year just by shopping their car insurance,
00:15:29.000 | but most of the time we don't do it.
00:15:32.400 | So if we can do it, and then sitting down and working on it,
00:15:35.400 | and consistently working on it, we can reduce those expenses.
00:15:38.600 | And the key is, it's often easier to reduce expenses
00:15:41.800 | than it is to increase income or increase investment returns.
00:15:45.000 | Quick rule of thumb, and I know I'm just like spurting everything out,
00:15:48.200 | but I want to make this show incredibly valuable,
00:15:51.400 | because I want to see tons of people having family adventures.
00:15:54.600 | But a quick rule of thumb from the early retirement community
00:15:57.800 | that I think is so valuable is to operate
00:16:01.200 | in terms of a mental model of financial independence.
00:16:04.200 | So there's a rule of thumb that we use in financial planning,
00:16:07.400 | that if you're going to live off of a portfolio of investment assets,
00:16:10.600 | stocks, bonds, mutual funds,
00:16:13.800 | then you can safely spend about 4% of a portfolio per year into perpetuity.
00:16:17.000 | Now there's some more nuance to it,
00:16:20.200 | but it's a useful mental model.
00:16:23.400 | So what you can do is you can take every single monthly expense
00:16:26.600 | and you can multiply that monthly expense by 3%
00:16:30.000 | and that will tell you how much of a portfolio you need to have
00:16:33.000 | in order to fund yourself on an ongoing basis without needing to work.
00:16:36.200 | So let's say somebody wants to go and travel
00:16:39.400 | and their monthly travel budget is $2,000.
00:16:42.600 | Well a good place to start with a financial goal
00:16:45.800 | is take $2,000 and multiply that times 300.
00:16:49.000 | That comes out to be $600,000.
00:16:52.200 | Now this is not the only way to go and travel,
00:16:55.400 | but if you wanted to travel full time,
00:16:58.800 | you wanted to "retire",
00:17:01.800 | then you need a $600,000 portfolio
00:17:05.000 | under that rule of thumb doing this with mutual funds and paper assets.
00:17:08.200 | So a question would be if I'm looking at a cell phone bill
00:17:11.400 | and let's say that I'm looking at there
00:17:14.600 | and there's a mom and a dad and a couple of kids on a cell phone plan
00:17:17.800 | and that cell phone plan is $150 a month.
00:17:21.000 | In order to pay for that cell phone bill on an ongoing basis,
00:17:24.200 | I multiply that $150 times 300.
00:17:27.600 | And I can look at that and say this person needs to save $45,000
00:17:30.600 | to be able to fund this cell phone bill into perpetuity.
00:17:33.800 | Now if I could cut that from $150 a month to $50 a month,
00:17:37.000 | then $50 a month times 300
00:17:40.200 | winds up being $15,000.
00:17:43.400 | So that's a difference of a total need
00:17:46.600 | to accumulate an extra $30,000.
00:17:49.800 | The question is this, you look at your savings rate
00:17:53.000 | and you say, "Okay, I'm saving this amount of money on a monthly basis.
00:17:56.400 | How long will it take me to accumulate $30,000?"
00:17:59.400 | For many people that's 3, 4, 5, 6 years to be able to accumulate that.
00:18:02.600 | And a lot of times it's easier to go from $150 a month
00:18:05.800 | cell phone expense to a $50 a month cell phone expense
00:18:09.000 | than it is to go from, you know, to save,
00:18:12.200 | than it is to save the extra,
00:18:15.400 | go from $15,000 saved to $45,000 saved.
00:18:18.600 | So that's a very useful rule of thumb
00:18:21.800 | that I use in my mind to evaluate ongoing expenses
00:18:25.200 | and say, "Is this worth it to me?"
00:18:28.200 | It values a lot.
00:18:31.400 | If you recognize that I could save $200 a month on my groceries
00:18:34.600 | by working out a couponing strategy
00:18:37.800 | or by growing some of my own food
00:18:41.000 | or by learning to cook for myself,
00:18:44.200 | that's $60,000 that I don't need to save
00:18:47.400 | toward that ongoing travel expense.
00:18:50.600 | I'll pause because I just gave you a pop.
00:18:54.000 | No, that is fantastic.
00:18:57.000 | That is a great way to think about it.
00:19:00.200 | When you think about taking that number and multiplying it times 300
00:19:03.400 | and really this is what you're going to look at over the long haul,
00:19:06.600 | that is a huge shift
00:19:09.800 | and that is radical personal finance.
00:19:13.000 | That's really grabbing the checkbook by the horns
00:19:16.200 | and putting it into practical terms, which is fantastic.
00:19:19.400 | So many...
00:19:22.800 | The average person, what maybe 2 out of 100 think like that
00:19:25.800 | or actually dive into their own finances
00:19:29.000 | and really evaluate where they are and where they're going.
00:19:32.200 | Very few do.
00:19:35.400 | Very few.
00:19:38.600 | What would it look like if more did?
00:19:41.800 | It's awesome.
00:19:45.000 | I've got a couple more ideas I want to share.
00:19:48.200 | I want to flip it, especially with the focus on travel,
00:19:51.600 | which went over is basically some money management.
00:19:54.600 | So that's focusing a lot on the income and the expense side.
00:19:57.800 | When it comes down to how can I invest the difference wisely,
00:20:01.000 | then this will tie over to the income side.
00:20:04.200 | So one of the things that is a very useful mental model,
00:20:07.400 | some people will look at things from the perspective of
00:20:10.600 | how can I fund things off of an investment portfolio.
00:20:13.800 | But if you want to live a family adventure of some kind,
00:20:17.000 | that doesn't necessarily have to be the only way to fund things.
00:20:20.400 | We need cash flow.
00:20:23.400 | So all financial planning is based around cash flow.
00:20:26.600 | If you and your wife needed $1,400 a month to live on your sailboat
00:20:29.800 | after you had purchased it with your family,
00:20:33.000 | then all you need to be able to do that is $1,400 a month.
00:20:36.200 | That $1,400 a month, if you had $14,000 sitting in a bank
00:20:39.400 | and you're spending $1,400 a month,
00:20:42.600 | now we have 10 months worth of expenses.
00:20:45.800 | So we have 10 months worth of freedom.
00:20:49.200 | And that's going to be coming from many other sources.
00:20:52.200 | If you had Social Security income of $1,400 a month,
00:20:55.400 | that could provide it.
00:20:58.600 | Most people, unless you're disabled,
00:21:01.800 | I had somebody I worked with actually who was disabled at an early age,
00:21:05.000 | and they had under $1,000 a month, they lived on a sailboat.
00:21:08.200 | And they traveled the Caribbean constantly, full-time,
00:21:11.400 | living on their sailboat, because that was how they could live
00:21:14.600 | a great life on their disability income.
00:21:18.000 | So I encourage people, investing is a really important skill,
00:21:21.000 | and it's awesome if you can fund an investment,
00:21:24.200 | if you can fund an adventure based upon investments.
00:21:27.400 | Me, that's kind of the ultimate,
00:21:30.600 | because that's true financial independence,
00:21:33.800 | when you don't have to do any work,
00:21:37.000 | and your investment portfolio will build that for you.
00:21:40.200 | But there are other ways to do it.
00:21:43.400 | So you could have somebody who works occasionally.
00:21:46.800 | So if you earn $2,800 a month,
00:21:49.800 | that means for every 6 months you work, and you can save $1,400,
00:21:53.000 | you can buy 6 more months of not having to work,
00:21:56.200 | as a very simple formula.
00:21:59.400 | So sometimes occasional working.
00:22:02.600 | Many people would love to be able to build their income online,
00:22:05.800 | and many people have done it.
00:22:09.000 | So you can build some sort of business.
00:22:12.200 | So this could be a so-called location-independent business,
00:22:15.600 | - Yeah, that list might be longer.
00:22:18.600 | - It is far longer.
00:22:21.800 | But sometimes focusing on a more local brick-and-mortar business
00:22:25.000 | might be more efficient.
00:22:28.200 | As far as a useful kind of construct,
00:22:31.400 | when you're looking at, and I just recorded a show about this,
00:22:34.600 | that hasn't been released yet,
00:22:37.800 | but just kind of talking about the different ways of doing things.
00:22:41.000 | There are fundamentally 3 different asset classes
00:22:44.400 | that I'm aware of that big picture can be used.
00:22:47.400 | And number 1 is entrepreneurship or business ownership,
00:22:50.600 | number 2 is real estate,
00:22:53.800 | and number 3 is paper assets.
00:22:57.000 | So entrepreneurship or business ownership,
00:23:00.200 | if it's appropriate for somebody's personality,
00:23:03.400 | can often have the highest potential rate of return.
00:23:06.600 | So if somebody's saying, "OK, I'm able to save some money,
00:23:09.800 | what's going to be my best investment?"
00:23:13.200 | If it's appropriate for them,
00:23:16.200 | building a business or an entrepreneurial endeavor of some kind
00:23:19.400 | can often be the highest rate of return
00:23:22.600 | because you can multiply the money incredibly massive.
00:23:25.800 | The right investment in the right marketing program for your business
00:23:29.000 | may result in a thousands of percent rate of return.
00:23:32.200 | So it's got opportunities for just massive growths
00:23:35.400 | if the business is successful.
00:23:38.600 | It's also got tremendous opportunities for tax advantages.
00:23:42.000 | One of my personal pet peeves and personal passions
00:23:45.000 | is actually tax planning
00:23:48.200 | because the more money you save on taxes
00:23:51.400 | is more money that you can spend.
00:23:54.600 | So instead of the government stealing the money out of your pocket
00:23:57.800 | and spending it on all the stuff that it spends the money on,
00:24:01.000 | much of which in my opinion is a total waste,
00:24:04.200 | then you can spend it on what you want to spend it on.
00:24:07.400 | People often talk about tax breaks for the rich.
00:24:10.800 | The trick is, however, there are two different almost segments
00:24:13.800 | of the tax code.
00:24:17.000 | This is not actual, this is more metaphorical.
00:24:20.200 | There's a personal tax code and there's a business tax code
00:24:23.400 | and all the good stuff is in the business tax code.
00:24:26.600 | So if you build out some kind of entrepreneurial endeavor,
00:24:29.800 | I like to use a simple example.
00:24:33.000 | If you are one who is making a legitimate income
00:24:36.200 | writing and selling travel books,
00:24:39.600 | you can avoid the taxes on some portion of those tax expenses.
00:24:42.600 | It's a very involved process to do it carefully
00:24:45.800 | and to do it appropriately
00:24:49.000 | where you have good records and you're in good shape.
00:24:52.200 | But that trip that I said
00:24:55.400 | where I took the two weeks and traveled,
00:24:58.600 | that was a 100% deductible expense for me
00:25:01.800 | because I was attending two business conferences
00:25:05.000 | that were 100% related to my business.
00:25:08.400 | So I was able to get a good record
00:25:11.400 | and I was able to get a good record
00:25:14.600 | and I was able to get a good record
00:25:17.800 | and I was able to get a good record
00:25:21.000 | and I was able to get a good record
00:25:24.200 | and I was able to get a good record
00:25:27.400 | and I was able to get a good record
00:25:30.600 | and I was able to get a good record
00:25:33.800 | and I was able to get a good record
00:25:37.200 | and I was able to get a good record
00:25:40.200 | and I was able to get a good record
00:25:43.400 | and I was able to get a good record
00:25:46.600 | and I was able to get a good record
00:25:49.800 | and I was able to get a good record
00:25:53.000 | and I was able to get a good record
00:25:56.200 | and I was able to get a good record
00:25:59.400 | and I was able to get a good record
00:26:02.600 | and I was able to get a good record
00:26:06.000 | and I was able to get a good record
00:26:09.000 | and I was able to get a good record
00:26:12.200 | and I was able to get a good record
00:26:15.400 | and I was able to get a good record
00:26:18.600 | and I was able to get a good record
00:26:21.800 | and I was able to get a good record
00:26:25.000 | and I was able to get a good record
00:26:28.200 | and I was able to get a good record
00:26:31.400 | and I was able to get a good record
00:26:34.800 | and I was able to get a good record
00:26:37.800 | and I was able to get a good record
00:26:41.000 | and I was able to get a good record
00:26:44.200 | and I was able to get a good record
00:26:47.400 | and I was able to get a good record
00:26:50.600 | and I was able to get a good record
00:26:53.800 | and I was able to get a good record
00:26:57.000 | and I was able to get a good record
00:27:00.200 | and I was able to get a good record
00:27:03.600 | and I was able to get a good record
00:27:06.600 | and I was able to get a good record
00:27:09.800 | and I was able to get a good record
00:27:13.000 | and I was able to get a good record
00:27:16.200 | and I was able to get a good record
00:27:19.400 | and I was able to get a good record
00:27:22.600 | and I was able to get a good record
00:27:25.800 | and I was able to get a good record
00:27:29.000 | and I was able to get a good record
00:27:32.400 | and I was able to get a good record
00:27:35.400 | and I was able to get a good record
00:27:38.600 | and I was able to get a good record
00:27:41.800 | and I was able to get a good record
00:27:45.000 | and I was able to get a good record
00:27:48.200 | and I was able to get a good record
00:27:51.400 | and I was able to get a good record
00:27:54.600 | and I was able to get a good record
00:27:57.800 | and I was able to get a good record
00:28:01.200 | and I was able to get a good record
00:28:04.200 | and I was able to get a good record
00:28:07.400 | and I was able to get a good record
00:28:10.600 | and I was able to get a good record
00:28:13.800 | and I was able to get a good record
00:28:17.000 | and I was able to get a good record
00:28:20.200 | and I was able to get a good record
00:28:23.400 | and I was able to get a good record
00:28:26.600 | and I was able to get a good record
00:28:30.000 | and I was able to get a good record
00:28:33.000 | and I was able to get a good record
00:28:36.200 | and I was able to get a good record
00:28:39.400 | and I was able to get a good record
00:28:42.600 | and I was able to get a good record
00:28:45.800 | and I was able to get a good record
00:28:49.000 | and I was able to get a good record
00:28:52.200 | and I was able to get a good record
00:28:55.400 | and I was able to get a good record
00:28:58.800 | and I was able to get a good record
00:29:01.800 | and I was able to get a good record
00:29:05.000 | and I was able to get a good record
00:29:08.200 | and I was able to get a good record
00:29:11.400 | and I was able to get a good record
00:29:14.600 | and I was able to get a good record
00:29:17.800 | and I was able to get a good record
00:29:21.000 | and I was able to get a good record
00:29:24.200 | and I was able to get a good record
00:29:27.600 | and I was able to get a good record
00:29:30.600 | and I was able to get a good record
00:29:33.800 | and I was able to get a good record
00:29:37.000 | and I was able to get a good record
00:29:40.200 | and I was able to get a good record
00:29:43.400 | and I was able to get a good record
00:29:46.600 | and I was able to get a good record
00:29:49.800 | and I was able to get a good record
00:29:53.000 | and I was able to get a good record
00:29:56.400 | and I was able to get a good record
00:29:59.400 | and I was able to get a good record
00:30:02.600 | and I was able to get a good record
00:30:05.800 | and I was able to get a good record
00:30:09.000 | and I was able to get a good record
00:30:12.200 | and I was able to get a good record
00:30:15.400 | and I was able to get a good record
00:30:18.600 | and I was able to get a good record
00:30:21.800 | and I was able to get a good record
00:30:25.200 | and I was able to get a good record
00:30:28.200 | and I was able to get a good record
00:30:31.400 | and I was able to get a good record
00:30:34.600 | and I was able to get a good record
00:30:37.800 | and I was able to get a good record
00:30:41.000 | and I was able to get a good record
00:30:44.200 | and I was able to get a good record
00:30:47.400 | and I was able to get a good record
00:30:50.600 | and I was able to get a good record
00:30:54.000 | and I was able to get a good record
00:30:57.000 | and I was able to get a good record
00:31:00.200 | and I was able to get a good record
00:31:03.400 | and I was able to get a good record
00:31:06.600 | and I was able to get a good record
00:31:09.800 | and I was able to get a good record
00:31:13.000 | and I was able to get a good record
00:31:16.200 | and I was able to get a good record
00:31:19.400 | and I was able to get a good record
00:31:22.800 | and I was able to get a good record
00:31:25.800 | and I was able to get a good record
00:31:29.000 | and I was able to get a good record
00:31:32.200 | and I was able to get a good record
00:31:35.400 | and I was able to get a good record
00:31:38.600 | and I was able to get a good record
00:31:41.800 | and I was able to get a good record
00:31:45.000 | and I was able to get a good record
00:31:48.200 | and I was able to get a good record
00:31:51.600 | and I was able to get a good record
00:31:54.600 | and I was able to get a good record
00:31:57.800 | and I was able to get a good record
00:32:01.000 | and I was able to get a good record
00:32:04.200 | and I was able to get a good record
00:32:07.400 | and I was able to get a good record
00:32:10.600 | and I was able to get a good record
00:32:13.800 | and I was able to get a good record
00:32:17.000 | and I was able to get a good record
00:32:20.400 | and I was able to get a good record
00:32:23.400 | and I was able to get a good record
00:32:26.600 | and I was able to get a good record
00:32:29.800 | and I was able to get a good record
00:32:33.000 | and I was able to get a good record
00:32:36.200 | and I was able to get a good record
00:32:39.400 | and I was able to get a good record
00:32:42.600 | and I was able to get a good record
00:32:45.800 | and I was able to get a good record
00:32:49.200 | and I was able to get a good record
00:32:52.200 | and I was able to get a good record
00:32:55.400 | and I was able to get a good record
00:32:58.600 | and I was able to get a good record
00:33:01.800 | and I was able to get a good record
00:33:05.000 | and I was able to get a good record
00:33:08.200 | and I was able to get a good record
00:33:11.400 | and I was able to get a good record
00:33:14.600 | and I was able to get a good record
00:33:18.000 | and I was able to get a good record
00:33:21.000 | and I was able to get a good record
00:33:24.200 | and I was able to get a good record
00:33:27.400 | and I was able to get a good record
00:33:30.600 | and I was able to get a good record
00:33:33.800 | and I was able to get a good record
00:33:37.000 | and I was able to get a good record
00:33:40.200 | and I was able to get a good record
00:33:43.400 | and I was able to get a good record
00:33:46.800 | and I was able to get a good record
00:33:49.800 | and I was able to get a good record
00:33:53.000 | and I was able to get a good record
00:33:56.200 | and I was able to get a good record
00:33:59.400 | and I was able to get a good record
00:34:02.600 | and I was able to get a good record
00:34:05.800 | and I was able to get a good record
00:34:09.000 | and I was able to get a good record
00:34:12.200 | and I was able to get a good record
00:34:15.600 | and I was able to get a good record
00:34:18.600 | and I was able to get a good record
00:34:21.800 | and I was able to get a good record
00:34:25.000 | and I was able to get a good record
00:34:28.200 | and I was able to get a good record
00:34:31.400 | and I was able to get a good record
00:34:34.600 | and I was able to get a good record
00:34:37.800 | and I was able to get a good record
00:34:41.000 | and I was able to get a good record
00:34:44.400 | and I was able to get a good record
00:34:47.400 | and I was able to get a good record
00:34:50.600 | and I was able to get a good record
00:34:53.800 | and I was able to get a good record
00:34:57.000 | and I was able to get a good record
00:35:00.200 | and I was able to get a good record
00:35:03.400 | and I was able to get a good record
00:35:06.600 | and I was able to get a good record
00:35:09.800 | and I was able to get a good record
00:35:13.200 | and I was able to get a good record
00:35:16.200 | and I was able to get a good record
00:35:19.400 | and I was able to get a good record
00:35:22.600 | and I was able to get a good record
00:35:25.800 | and I was able to get a good record
00:35:29.000 | and I was able to get a good record
00:35:32.200 | and I was able to get a good record
00:35:35.400 | and I was able to get a good record
00:35:38.600 | and I was able to get a good record
00:35:42.000 | and I was able to get a good record
00:35:45.000 | and I was able to get a good record
00:35:48.200 | and I was able to get a good record
00:35:51.400 | and I was able to get a good record
00:35:54.600 | and I was able to get a good record
00:35:57.800 | and I was able to get a good record
00:36:01.000 | and I was able to get a good record
00:36:04.200 | and I was able to get a good record
00:36:07.400 | and I was able to get a good record
00:36:10.800 | and I was able to get a good record
00:36:13.800 | and I was able to get a good record
00:36:17.000 | and I was able to get a good record
00:36:20.200 | and I was able to get a good record
00:36:23.400 | and I was able to get a good record
00:36:26.600 | and I was able to get a good record
00:36:29.800 | and I was able to get a good record
00:36:33.000 | and I was able to get a good record
00:36:36.200 | and I was able to get a good record
00:36:39.600 | and I was able to get a good record
00:36:42.600 | and I was able to get a good record
00:36:45.800 | and I was able to get a good record
00:36:49.000 | and I was able to get a good record
00:36:52.200 | and I was able to get a good record
00:36:55.400 | and I was able to get a good record
00:36:58.600 | and I was able to get a good record
00:37:01.800 | and I was able to get a good record
00:37:05.000 | and I was able to get a good record
00:37:08.400 | and I was able to get a good record
00:37:11.400 | and I was able to get a good record
00:37:14.600 | and I was able to get a good record
00:37:17.800 | and I was able to get a good record
00:37:21.000 | and I was able to get a good record
00:37:24.200 | and I was able to get a good record
00:37:27.400 | and I was able to get a good record
00:37:30.600 | and I was able to get a good record
00:37:33.800 | and I was able to get a good record
00:37:37.200 | and I was able to get a good record
00:37:40.200 | and I was able to get a good record
00:37:43.400 | and I was able to get a good record
00:37:46.600 | and I was able to get a good record
00:37:49.800 | and I was able to get a good record
00:37:53.000 | and I was able to get a good record
00:37:56.200 | and I was able to get a good record
00:37:59.400 | and I was able to get a good record
00:38:02.600 | and I was able to get a good record
00:38:06.000 | and I was able to get a good record
00:38:09.000 | and I was able to get a good record
00:38:12.200 | and I was able to get a good record
00:38:15.400 | and I was able to get a good record
00:38:18.600 | and I was able to get a good record
00:38:21.800 | and I was able to get a good record
00:38:25.000 | and I was able to get a good record
00:38:28.200 | and I was able to get a good record
00:38:31.400 | and I was able to get a good record
00:38:34.800 | and I was able to get a good record
00:38:37.800 | and I was able to get a good record
00:38:41.000 | and I was able to get a good record
00:38:44.200 | and I was able to get a good record
00:38:47.400 | and I was able to get a good record
00:38:50.600 | and I was able to get a good record
00:38:53.800 | and I was able to get a good record
00:38:57.000 | and I was able to get a good record
00:39:00.200 | and I was able to get a good record
00:39:03.600 | and I was able to get a good record
00:39:06.600 | and I was able to get a good record
00:39:09.800 | and I was able to get a good record
00:39:13.000 | and I was able to get a good record
00:39:16.200 | and I was able to get a good record
00:39:19.400 | and I was able to get a good record
00:39:22.600 | and I was able to get a good record
00:39:25.800 | and I was able to get a good record
00:39:29.000 | and I was able to get a good record
00:39:32.400 | and I was able to get a good record
00:39:35.400 | and I was able to get a good record
00:39:38.600 | and I was able to get a good record
00:39:41.800 | and I was able to get a good record
00:39:45.000 | and I was able to get a good record
00:39:48.200 | and I was able to get a good record
00:39:51.400 | and I was able to get a good record
00:39:54.600 | and I was able to get a good record
00:39:57.800 | and I was able to get a good record
00:40:01.200 | and I was able to get a good record
00:40:04.200 | and I was able to get a good record
00:40:07.400 | and I was able to get a good record
00:40:10.600 | and I was able to get a good record
00:40:13.800 | and I was able to get a good record
00:40:17.000 | and I was able to get a good record
00:40:20.200 | and I was able to get a good record
00:40:23.400 | and I was able to get a good record
00:40:26.600 | and I was able to get a good record
00:40:30.000 | and I was able to get a good record
00:40:33.000 | and I was able to get a good record
00:40:36.200 | and I was able to get a good record
00:40:39.400 | and I was able to get a good record
00:40:42.600 | and I was able to get a good record
00:40:45.800 | and I was able to get a good record
00:40:49.000 | and I was able to get a good record
00:40:52.200 | and I was able to get a good record
00:40:55.400 | and I was able to get a good record
00:40:58.800 | and I was able to get a good record
00:41:01.800 | and I was able to get a good record
00:41:05.000 | and I was able to get a good record
00:41:08.200 | and I was able to get a good record
00:41:11.400 | and I was able to get a good record
00:41:14.600 | and I was able to get a good record
00:41:17.800 | and I was able to get a good record
00:41:21.000 | and I was able to get a good record
00:41:24.200 | and I was able to get a good record
00:41:27.600 | and I was able to get a good record
00:41:30.600 | and I was able to get a good record
00:41:33.800 | and I was able to get a good record
00:41:37.000 | and I was able to get a good record
00:41:40.200 | and I was able to get a good record
00:41:43.400 | and I was able to get a good record
00:41:46.600 | and I was able to get a good record
00:41:49.800 | and I was able to get a good record
00:41:53.000 | and I was able to get a good record
00:41:56.400 | and I was able to get a good record
00:41:59.400 | and I was able to get a good record
00:42:02.600 | and I was able to get a good record
00:42:05.800 | and I was able to get a good record
00:42:09.000 | and I was able to get a good record
00:42:12.200 | and I was able to get a good record
00:42:15.400 | and I was able to get a good record
00:42:18.600 | and I was able to get a good record
00:42:21.800 | and I was able to get a good record
00:42:25.200 | and I was able to get a good record
00:42:28.200 | and I was able to get a good record
00:42:31.400 | and I was able to get a good record
00:42:34.600 | and I was able to get a good record
00:42:37.800 | and I was able to get a good record
00:42:41.000 | and I was able to get a good record
00:42:44.200 | and I was able to get a good record
00:42:47.400 | and I was able to get a good record
00:42:50.600 | and I was able to get a good record
00:42:54.000 | and I was able to get a good record
00:42:57.000 | and I was able to get a good record
00:43:00.200 | and I was able to get a good record
00:43:03.400 | and I was able to get a good record
00:43:06.600 | and I was able to get a good record
00:43:09.800 | and I was able to get a good record
00:43:13.000 | and I was able to get a good record
00:43:16.200 | and I was able to get a good record
00:43:19.400 | and I was able to get a good record
00:43:22.800 | and I was able to get a good record
00:43:25.800 | and I was able to get a good record
00:43:29.000 | and I was able to get a good record
00:43:32.200 | and I was able to get a good record
00:43:35.400 | and I was able to get a good record
00:43:38.600 | and I was able to get a good record
00:43:41.800 | and I was able to get a good record
00:43:45.000 | and I was able to get a good record
00:43:48.200 | and I was able to get a good record
00:43:51.600 | and I was able to get a good record
00:43:54.600 | and I was able to get a good record
00:43:57.800 | and I was able to get a good record
00:44:01.000 | and I was able to get a good record
00:44:04.200 | and I was able to get a good record
00:44:07.400 | and I was able to get a good record
00:44:10.600 | and I was able to get a good record
00:44:13.800 | and I was able to get a good record
00:44:17.000 | and I was able to get a good record
00:44:20.400 | and I was able to get a good record
00:44:23.400 | and I was able to get a good record
00:44:26.600 | and I was able to get a good record
00:44:29.800 | and I was able to get a good record
00:44:33.000 | and I was able to get a good record
00:44:36.200 | and I was able to get a good record
00:44:39.400 | and I was able to get a good record
00:44:42.600 | and I was able to get a good record
00:44:45.800 | and I was able to get a good record
00:44:49.200 | and I was able to get a good record
00:44:52.200 | and I was able to get a good record
00:44:55.400 | and I was able to get a good record
00:44:58.600 | and I was able to get a good record
00:45:01.800 | and I was able to get a good record
00:45:05.000 | and I was able to get a good record
00:45:08.200 | and I was able to get a good record
00:45:11.400 | and I was able to get a good record
00:45:14.600 | and I was able to get a good record
00:45:18.000 | and I was able to get a good record
00:45:21.000 | and I was able to get a good record
00:45:24.200 | and I was able to get a good record
00:45:27.400 | and I was able to get a good record
00:45:30.600 | and I was able to get a good record
00:45:33.800 | and I was able to get a good record
00:45:37.000 | and I was able to get a good record
00:45:40.200 | and I was able to get a good record
00:45:43.400 | and I was able to get a good record
00:45:46.800 | and I was able to get a good record
00:45:49.800 | and I was able to get a good record
00:45:53.000 | and I was able to get a good record
00:45:56.200 | and I was able to get a good record
00:45:59.400 | and I was able to get a good record
00:46:02.600 | and I was able to get a good record
00:46:05.800 | and I was able to get a good record
00:46:09.000 | and I was able to get a good record
00:46:12.200 | and I was able to get a good record
00:46:15.600 | and I was able to get a good record
00:46:18.600 | and I was able to get a good record
00:46:21.800 | and I was able to get a good record
00:46:25.000 | and I was able to get a good record
00:46:28.200 | and I was able to get a good record
00:46:31.400 | and I was able to get a good record
00:46:34.600 | and I was able to get a good record
00:46:37.800 | and I was able to get a good record
00:46:41.000 | and I was able to get a good record
00:46:44.400 | and I was able to get a good record
00:46:47.400 | and I was able to get a good record
00:46:50.600 | and I was able to get a good record
00:46:53.800 | and I was able to get a good record
00:46:57.000 | and I was able to get a good record
00:47:00.200 | and I was able to get a good record
00:47:03.400 | and I was able to get a good record
00:47:06.600 | and I was able to get a good record
00:47:09.800 | and I was able to get a good record
00:47:13.200 | and I was able to get a good record
00:47:16.200 | and I was able to get a good record
00:47:19.400 | and I was able to get a good record
00:47:22.600 | and I was able to get a good record
00:47:25.800 | and I was able to get a good record
00:47:29.000 | and I was able to get a good record
00:47:32.200 | and I was able to get a good record
00:47:35.400 | and I was able to get a good record
00:47:38.600 | and I was able to get a good record
00:47:42.000 | and I was able to get a good record
00:47:45.000 | and I was able to get a good record
00:47:48.200 | and I was able to get a good record
00:47:51.400 | and I was able to get a good record
00:47:54.600 | and I was able to get a good record
00:47:57.800 | and I was able to get a good record
00:48:01.000 | and I was able to get a good record
00:48:04.200 | and I was able to get a good record
00:48:07.400 | and I was able to get a good record
00:48:10.800 | and I was able to get a good record
00:48:13.800 | and I was able to get a good record
00:48:17.000 | and I was able to get a good record
00:48:20.200 | and I was able to get a good record
00:48:23.400 | and I was able to get a good record
00:48:26.600 | and I was able to get a good record
00:48:29.800 | and I was able to get a good record
00:48:33.000 | and I was able to get a good record
00:48:36.200 | and I was able to get a good record
00:48:39.600 | and I was able to get a good record
00:48:42.600 | and I was able to get a good record
00:48:45.800 | and I was able to get a good record
00:48:49.000 | and I was able to get a good record
00:48:52.200 | and I was able to get a good record
00:48:55.400 | and I was able to get a good record
00:48:58.600 | and I was able to get a good record
00:49:01.800 | and I was able to get a good record
00:49:05.000 | and I was able to get a good record
00:49:08.400 | and I was able to get a good record
00:49:11.400 | and I was able to get a good record
00:49:14.600 | and I was able to get a good record
00:49:17.800 | and I was able to get a good record
00:49:21.000 | and I was able to get a good record
00:49:24.200 | and I was able to get a good record
00:49:27.400 | and I was able to get a good record
00:49:30.600 | and I was able to get a good record
00:49:33.800 | and I was able to get a good record
00:49:37.200 | and I was able to get a good record
00:49:40.200 | and I was able to get a good record
00:49:43.400 | and I was able to get a good record
00:49:46.600 | and I was able to get a good record
00:49:49.800 | and I was able to get a good record
00:49:53.000 | and I was able to get a good record
00:49:56.200 | and I was able to get a good record
00:49:59.400 | and I was able to get a good record
00:50:02.600 | and I was able to get a good record
00:50:06.000 | and I was able to get a good record
00:50:09.000 | and I was able to get a good record
00:50:12.200 | and I was able to get a good record
00:50:15.400 | and I was able to get a good record
00:50:18.600 | and I was able to get a good record
00:50:21.800 | and I was able to get a good record
00:50:25.000 | and I was able to get a good record
00:50:28.200 | and I was able to get a good record
00:50:31.400 | and I was able to get a good record
00:50:34.800 | and I was able to get a good record
00:50:37.800 | and I was able to get a good record
00:50:41.000 | and I was able to get a good record
00:50:44.200 | and I was able to get a good record
00:50:47.400 | and I was able to get a good record
00:50:50.600 | and I was able to get a good record
00:50:53.800 | and I was able to get a good record
00:50:57.000 | and I was able to get a good record
00:51:00.200 | and I was able to get a good record
00:51:03.600 | and I was able to get a good record
00:51:06.600 | and I was able to get a good record
00:51:09.800 | and I was able to get a good record
00:51:13.000 | and I was able to get a good record
00:51:16.200 | and I was able to get a good record
00:51:19.400 | and I was able to get a good record
00:51:22.600 | and I was able to get a good record
00:51:25.800 | and I was able to get a good record
00:51:29.000 | and I was able to get a good record
00:51:32.400 | and I was able to get a good record
00:51:35.400 | and I was able to get a good record
00:51:38.600 | and I was able to get a good record
00:51:41.800 | and I was able to get a good record
00:51:45.000 | and I was able to get a good record
00:51:48.200 | and I was able to get a good record
00:51:51.400 | and I was able to get a good record
00:51:54.600 | and I was able to get a good record
00:51:57.800 | and I was able to get a good record
00:52:01.200 | and I was able to get a good record
00:52:04.200 | and I was able to get a good record
00:52:07.400 | and I was able to get a good record
00:52:10.600 | and I was able to get a good record
00:52:13.800 | and I was able to get a good record
00:52:17.000 | and I was able to get a good record
00:52:20.200 | and I was able to get a good record
00:52:23.400 | and I was able to get a good record
00:52:26.600 | and I was able to get a good record
00:52:30.000 | and I was able to get a good record
00:52:33.000 | and I was able to get a good record
00:52:36.200 | and I was able to get a good record
00:52:39.400 | and I was able to get a good record
00:52:42.600 | and I was able to get a good record
00:52:45.800 | and I was able to get a good record
00:52:49.000 | and I was able to get a good record
00:52:52.200 | and I was able to get a good record
00:52:55.400 | and I was able to get a good record
00:52:58.800 | and I was able to get a good record
00:53:01.800 | and I was able to get a good record
00:53:05.000 | and I was able to get a good record
00:53:08.200 | and I was able to get a good record
00:53:11.400 | and I was able to get a good record
00:53:14.600 | and I was able to get a good record
00:53:17.800 | and I was able to get a good record
00:53:21.000 | and I was able to get a good record
00:53:24.200 | and I was able to get a good record
00:53:27.600 | and I was able to get a good record
00:53:30.600 | and I was able to get a good record
00:53:33.800 | and I was able to get a good record
00:53:37.000 | and I was able to get a good record
00:53:40.200 | and I was able to get a good record
00:53:43.400 | and I was able to get a good record
00:53:46.600 | and I was able to get a good record
00:53:49.800 | and I was able to get a good record
00:53:53.000 | and I was able to get a good record
00:53:56.400 | and I was able to get a good record
00:53:59.400 | and I was able to get a good record
00:54:02.600 | and I was able to get a good record
00:54:05.800 | and I was able to get a good record
00:54:09.000 | and I was able to get a good record
00:54:12.200 | and I was able to get a good record
00:54:15.400 | and I was able to get a good record
00:54:18.600 | and I was able to get a good record
00:54:21.800 | and I was able to get a good record
00:54:25.200 | and I was able to get a good record
00:54:28.200 | and I was able to get a good record
00:54:31.400 | and I was able to get a good record
00:54:34.600 | and I was able to get a good record
00:54:37.800 | and I was able to get a good record
00:54:41.000 | and I was able to get a good record
00:54:44.200 | and I was able to get a good record
00:54:47.400 | and I was able to get a good record
00:54:50.600 | and I was able to get a good record
00:54:54.000 | and I was able to get a good record
00:54:57.000 | and I was able to get a good record
00:55:00.200 | and I was able to get a good record
00:55:03.400 | and I was able to get a good record
00:55:06.600 | and I was able to get a good record
00:55:09.800 | and I was able to get a good record
00:55:13.000 | and I was able to get a good record
00:55:16.200 | and I was able to get a good record
00:55:19.400 | and I was able to get a good record
00:55:22.800 | and I was able to get a good record
00:55:25.800 | and I was able to get a good record
00:55:29.000 | and I was able to get a good record
00:55:32.200 | and I was able to get a good record
00:55:35.400 | and I was able to get a good record
00:55:38.600 | and I was able to get a good record
00:55:41.800 | and I was able to get a good record
00:55:45.000 | and I was able to get a good record
00:55:48.200 | and I was able to get a good record
00:55:51.600 | and I was able to get a good record
00:55:54.600 | and I was able to get a good record
00:55:57.800 | and I was able to get a good record