RPF-0072-FinCon_and_MSFS

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00:00:29.640 | I'm back

00:00:31.640 | Welcome to the radical personal finance podcast. My name is Joshua sheets, and I'm your host today is Tuesday, September 30

00:00:55.680 | 2014 this is episode 72 of the show

00:00:58.840 | Today, it's gonna be a personal show. I'm gonna tell you about FinCon 2014 my MSFS class and how I hacked a two-week

00:01:07.720 | 3,200 mile road trip for about 600 bucks

00:01:11.520 | Hope you like it

00:01:15.280 | There's been a couple of weeks now since I've been here sitting in front of the microphone

00:01:23.080 | So today I'm gonna catch you up on my lessons learned from the last couple of weeks

00:01:27.000 | If this is your first time listening to the show feel free to stick on stick here and join us

00:01:32.240 | But this is gonna be a somewhat personal show

00:01:34.360 | Trying to just share with some of my friends in the audience some of the lessons that I've learned over the last couple of weeks

00:01:39.520 | If you're if you're not interested in this kind of stuff check back tomorrow for some more of our kind of mainstream content

00:01:46.460 | I am bringing you this information. However, though not just to talk to hear myself talk and hear myself

00:01:50.680 | Tell my stories I can do that with other people

00:01:53.160 | I'm gonna just share with you some of the lessons that I've learned over the last two two weeks and

00:01:57.400 | Because they are specifically related to finance. I think you'll find them interesting or at least I hope you find them interesting and

00:02:04.360 | So it's been a busy couple of weeks of travel

00:02:07.840 | And so I'm going to share with you the lessons from FinCon in New Orleans

00:02:12.160 | Which was two weeks ago

00:02:13.160 | Then the lessons from completing my residency requirement for my master's degree in financial planning

00:02:18.720 | From the American College up in Pennsylvania and then as a teaser to keep you with me

00:02:23.480 | I am going to share with you how I hacked this trip as kind of one of my personal fun

00:02:29.800 | Experiments to push the limits a little bit. We don't call the show radical personal finance for nothing. So let's start with FinCon

00:02:36.900 | FinCon started off. I think it was four or five years ago as something called the financial bloggers conference

00:02:43.280 | I think I first became aware of it a couple of years ago and

00:02:47.680 | Pat excuse me, Philip Taylor who has who runs it has since changed it to be FinCon to kind of be more inclusive than

00:02:55.440 | just financial bloggers I

00:02:57.440 | Last year wanted very much to go because I've always felt a real affinity for the financial blogging world

00:03:02.840 | But I wasn't able to go simply because I was in them

00:03:05.480 | You know, I was working for a broker-dealer wasn't able to get out from behind that and there was no point in my going

00:03:10.000 | At that time. So this year I was excited to be able to go and it was really it was really awesome

00:03:16.080 | It was really awesome. Now going into the trip. I was a little bit concerned about how it was gonna work out schedule wise. I

00:03:23.600 | Actually made a mistake when I was booking the trip and I didn't look at my calendar closely enough. I had previously scheduled to be in

00:03:33.000 | Pennsylvania I was in a town called Bryn Mawr, which I guess is just on the outside of Philadelphia

00:03:39.560 | And I had scheduled to be there to you know

00:03:42.560 | I've been scheduled for this for six months that for this residency requirements only offered twice a year once in April once in September

00:03:48.760 | and so I've been scheduled to go to that and then I saw FinCon and I scheduled to go to that and it was only

00:03:53.320 | Then that I looked at my calendar after I'd you know purchased tickets for both of them and kind of made arrangements

00:03:58.560 | It was only then that I looked at my calendar and figured out that

00:04:01.960 | That they were one day apart. So FinCon actually finished on Friday evening. Excuse me Saturday evening and

00:04:09.040 | Then at about seven o'clock or so, although there was an after-party that I didn't go to but it finished about

00:04:14.640 | Yeah, Saturday evening and then on Monday morning at 8 a.m

00:04:18.320 | I was scheduled to be in class in Pennsylvania and this is important because I had planned and wanted to drive. I

00:04:25.280 | Could have flown obviously that's what most, you know, sane people would do but I particularly don't enjoy flying

00:04:31.680 | Not because I have any problem with flying. I actually like the flying part

00:04:35.240 | It's all the rest of it that I don't love and I like driving when it's a reasonable distance now my definition of reasonable

00:04:41.080 | Distance is different than many people's definitions of reasonable distance

00:04:47.360 | Most people would not consider Florida to Louisiana to Pennsylvania a reasonable distance for a road trip, but I considered it so

00:04:55.640 | and I'll give you more details on that in a minute when I talk about kind of how I

00:05:00.760 | Hacked this trip and in my own unique

00:05:04.920 | experimental way

00:05:06.920 | My wife and I have a constant ongoing

00:05:10.400 | Discussion over what is a reasonable distance to drive and what is a reasonable distance to fly?

00:05:15.080 | She would almost always choose to fly and I would almost always choose to drive. So we we have to work that out

00:05:20.840 | But this was surprising to me because I had planned to take my family with me and I had planned to make an event out

00:05:26.840 | Of FinCon. I'd never been in New Orleans. I figured I'd go a few days early

00:05:29.760 | I would you know get the lay of the land. We would do some tourist stuff. I'd hang out in Louisiana

00:05:34.080 | I eat some good Cajun food maybe go in the swamps or do something fun and and take my you know

00:05:39.280 | meander my way home again and

00:05:41.280 | Then I figured you know, I'd go to Pennsylvania haven't been to Philadelphia in a long time

00:05:45.360 | I figured I would make it into a fun trip and

00:05:47.480 | But when I looked at the schedule it just didn't happen so I wound up going by myself and and just simply

00:05:55.080 | Making it a quick trip mainly just focusing on business, but had an awesome experience at FinCon and it was really unique to me

00:06:02.400 | I've been to a lot of conferences. I guess maybe that's a little bit

00:06:05.560 | Excessive I've been to some conferences. I've been to many conferences. I like going to conferences. I learn a lot

00:06:11.160 | I find they're very very valuable. I find they're just I always get a lot out of them

00:06:15.600 | But FinCon was one of the most unique where I felt

00:06:19.600 | It's hard to say figure out how to say it. I felt more welcomed

00:06:24.000 | I felt like more of kind of like I belonged

00:06:27.720 | Because a bunch of oddball weird people who are all interested in finance and I like oddball weird people who are interested in finance

00:06:34.280 | That's my kind of gang. And so it really just felt incredibly comfortable right from the beginning

00:06:38.600 | It just felt like I fit in many ways with this weird oddball community of financial people

00:06:45.400 | Trying to figure out how to change the world basically one day at a time and that was a unique experience

00:06:52.080 | It's been a while since I was able to enjoy such a community of people

00:07:00.080 | And the most interesting thing about it was the sheer variety of people

00:07:05.520 | As the conference has grown if my memory is right

00:07:08.320 | It was something like 600 people maybe a little under 600 people this year as the conference has grown there have been

00:07:14.200 | There's been a development of

00:07:20.080 | Attendees so, you know started as financial bloggers and and financial bloggers, you know a few years ago

00:07:25.720 | There were just a few big ones and then some starting up and now the world of financial blogging is so massive

00:07:30.840 | and there's so many little niche blogs that that writers cover these little interesting topics and and

00:07:36.080 | So that's just interesting from the sheer variety, you know in the back in the day when I first started reading financial blogs

00:07:42.160 | I think maybe there was you know, here's some smart things to do with money

00:07:45.520 | I remember, you know lazy man and money and get rich slowly and

00:07:49.920 | The simple dollar I think those were the big big ones at that time the consumer commentary

00:07:56.880 | What were some of there were some other ones at that time back in the back in you know in those days?

00:08:01.800 | That were just basically I would call them just mainstream financial blogs

00:08:05.560 | But now I mean it's hard to get a mainstream financial blog like that to really work now

00:08:10.480 | There's so many interesting niche blogs. You got guys and gals blogging about couponing and you got guys and gals blogging about

00:08:17.000 | You know getting out of getting out of debt and got guys and gals blogging about being multi millionaires

00:08:22.800 | You got all these interesting niches and so that makes for an interesting group of people

00:08:26.760 | But even better than that is now the financial media world is not

00:08:30.920 | Confined to just blogging so I'm there

00:08:34.920 | I don't really have a blog other than the fact that it's necessary to have you know

00:08:39.120 | To set up an RSS feed to distribute this show, but for me my entire focus is on audio

00:08:44.200 | I'm trying to serve you the audience who is

00:08:47.040 | perhaps listening to me as you commute or drive or out on a run or

00:08:51.160 | Doing something where maybe working on something where you're not able to look at a screen

00:08:56.160 | So I'm not really interested in doing a lot of writing right now. I'm trying to serve you from an audio perspective

00:09:01.840 | That's why sometimes if you're wondering that's why sometimes I choose to read

00:09:06.000 | Lengthier passages then and not just say we'll go to the link it always annoys me when podcasters will say go to the link

00:09:11.720 | And I'm need to think don't you realize I'm driving down the road here

00:09:14.760 | And I can't just go to the link and I'm not gonna do it and then when I get home

00:09:18.360 | I'm gonna be busy, and I'm not gonna have time to sit at the computer

00:09:20.580 | So I don't know whether you like it or not

00:09:22.560 | but I always like it when a podcaster will actually read the article or read enough of a

00:09:27.960 | Selection that I can get the context for whatever it is that they're talking about

00:09:33.200 | So I'm trying to serve an audio audience and then you get into the world of video and YouTube

00:09:37.040 | And there's just so many people doing interesting things and it just makes for an awesome community of people. I felt like I was continually

00:09:43.640 | sticking my hand out and doing my how are yous and who are yous and

00:09:47.240 | Feeling like wow what what an interesting person and what an interesting story look look how cool this person is setting out to change

00:09:55.080 | You know this person is changing the world what an awesome story, and I felt like it was that way for the whole week

00:10:00.420 | I went I started on Wednesday

00:10:02.680 | I was there for a total of four days because I went a little early for this camp thing they did and it just it

00:10:07.520 | Was awesome

00:10:08.520 | By the way if you're listening to this and you're interested in going to the camp in the future

00:10:12.540 | I thought camp would have been really helpful for bloggers, but since I don't really write a lot of it was about writing

00:10:17.320 | I didn't really I didn't really get much out of it from the perspective of writing

00:10:21.240 | I did really enjoy it however as far as having the opportunity to really connect with some people before the conference

00:10:27.200 | And I'm glad I went for that purpose because I made some really real friends those first couple days when there was only a hundred

00:10:33.640 | or so people around and

00:10:35.240 | Those friendships kind of carried on through the coming days, so I'm really glad I went really enjoyed it and

00:10:39.840 | if you're a writer if you're a financial writer or a blogger of some kind then go ahead and and

00:10:46.280 | Consider going in the future. I'll probably I don't know maybe I'll go next time. Maybe I won't who knows I

00:10:50.680 | Had an opportunity just to meet so many people that I've read their work

00:10:54.760 | That was one of the most exciting things was just meeting somebody and looking at their name tag and recognizing that I knew their work

00:11:00.480 | And I really loved having the opportunity to tell them just face to face how much I've appreciated their work as a

00:11:07.160 | Podcaster I've only just recently realized the impact of the positive encouragement from an email

00:11:13.800 | I always have assumed people writing blogs and doing podcasts are busy enough without trying to read my email

00:11:19.200 | So I'm usually I in the past

00:11:21.200 | I never really reached out to people but now being on the other side of the microphone

00:11:24.520 | It's I've really learned to appreciate it

00:11:27.560 | It means a lot to get an email and to get a note from somebody so I was able to do that in a face-to-face

00:11:33.800 | Perspective I met some people for example

00:11:37.320 | I'm involved with a group called the XY planning network

00:11:39.700 | And I had the opportunity to meet about six or seven of those guys and gals

00:11:42.540 | We're trying to work together to build a new

00:11:45.620 | Model for financial planning which I'll go over at some point in a future show

00:11:50.520 | But it was nice because we've done so much work virtually we've talked to each other virtually and had Google Hangouts and things like that

00:11:56.800 | But it was fun to actually get to meet meet the people

00:11:58.880 | I learned a lot from doing the shows that I did while I was there. I did a live show

00:12:02.920 | Which was they had a podcasting table set up up by the registration and that was where I recorded recorded the live show with the

00:12:10.880 | question from the listener

00:12:13.160 | who asked about should I get a CFP designation or some other financial planning designation for my own personal knowledge and

00:12:20.280 | Wow was that tough

00:12:22.280 | That was probably the toughest public event that I have ever done and I'd never been to one of these conferences

00:12:29.600 | I never I don't know

00:12:30.520 | I didn't know what I should expect and I wasn't expecting people to listen to me while I recorded the show

00:12:35.980 | But I underestimated how challenging it would be to speak to a crowded room of people that can hear me

00:12:43.080 | But aren't really listening to me looking back on it next time if I have an opportunity like that

00:12:47.360 | I'm doing doing an interview show. I'm doing a conversation because it was just tough because I did that show by myself and it's weird

00:12:54.520 | There's in podcasting

00:12:57.040 | You know, I'm sitting here at my desk. I've got my computer screen in front of me

00:13:01.280 | I've got a notebook and a pen and and the calculator over to my side and a coffee cup and that's it

00:13:05.700 | And so when I'm speaking with you, I'm really you know, I don't look much at my notes

00:13:10.720 | I just kind of think about trying to communicate with you and

00:13:15.200 | No one can hear me other than the on the recording and so it's easy to really focus on trying to

00:13:22.960 | Do my best effort to communicate the concepts that I'm looking to communicate

00:13:27.680 | in a speech

00:13:30.040 | But speech is very different

00:13:31.680 | So if you're hot if you're giving a speech to a room and a room of people is standing there looking at you

00:13:36.080 | That is very different and the nice thing about a speech though is everyone is yet generally listening to you

00:13:41.980 | If they're not listening to you shut your speech down and go go on

00:13:45.320 | Which by the way tip for those of you I'm gonna interrupt myself before I make my point

00:13:51.000 | Tip for those of you who are faced with speaking to people and who are faced with introducing people

00:13:57.340 | One of the things that I think a lot about it in our society

00:14:01.560 | Is how challenging it is to keep people's attention now and there were several instances even at FinCon

00:14:08.200 | Where there was you know a lunch speech or something like that a lunch speech?

00:14:13.000 | It was being delivered and the room of people wasn't really listening that closely

00:14:17.160 | First of all, if you're ever introducing somebody I think it is the person who is introducing a speaker

00:14:22.120 | It is our job to get the attention of the room. It's very difficult if you're a speaker to ask for attention

00:14:28.740 | So let's say that in a setting where which is very difficult to speak at it's something like a lunch crowd

00:14:33.400 | Or a breakfast crowd where people are eating and kind of paying attention

00:14:36.520 | We've all been to those events where people are eating they're gathered around their table

00:14:39.960 | They're not really looking at you, but they're kind of listening

00:14:41.560 | But they're sort of kind of talking with their neighbor or something like that

00:14:44.480 | If you're introducing somebody for a speech like that get the crowds attention and get the crowd quieted down

00:14:50.200 | When you are making the introduction you have the opportunity

00:14:54.680 | To ask for the attention of the audience and it's and it's able you're able to do it in a polite way

00:15:00.640 | But in a demanding way to tell them audience quiet down

00:15:04.180 | It's time for the speeches and you can wrap the glass. You can tap the mic

00:15:08.240 | You can say hey shut up and listen to me. Whatever it is that you want to do. You can get the audience's attention

00:15:13.360 | It's very difficult as a speaker to be able to do that because generally as a speaker

00:15:18.520 | You're launching right into your talk and for you to have to stop and demand

00:15:23.160 | The attention of the crowd is more challenging because it's it's a little demeaning

00:15:28.280 | It's a little hard to demand the attention of the crowd. You want the crowd to want to hear what you're saying

00:15:32.160 | So if you're introducing somebody

00:15:34.160 | Get the attention of the crowd do your job. It's not just about reading the script

00:15:38.480 | It's about taking control and command of the room so that you can

00:15:42.580 | Set up the

00:15:46.480 | Speaker to really have a strong start

00:15:49.600 | so just remember that if you're making the introduction if you're a speaker and

00:15:53.520 | I've been in this situation and I'm kind of reminding myself

00:15:57.080 | Get control of the room

00:16:00.980 | We are still polite enough in our society that you know

00:16:04.600 | If you're standing up front speaking you've been invited to be there get control of the room and a lot of times new public

00:16:10.120 | Speakers are scared to do this

00:16:11.920 | But even if you don't know how to do it in an elegant way

00:16:14.480 | At least just simply ask for the audience's attention and there are more elegant ways to do it

00:16:20.460 | Maybe you can make a study of that if you're if you are I don't want to go into that because it's something I'm interested

00:16:25.880 | In about I mean I made a note to kind of make a study of practicing

00:16:28.720 | what would I do if I'm having a room of people that's not really paying attention to me and

00:16:32.840 | But get control of the room

00:16:35.340 | It's really hard for those of us who are trying to listen to you to hear and we can't do anything in the crowd really

00:16:40.960 | To help you get control

00:16:42.920 | But if you take command of the stage and one simple and easy way to do it if there's a microphone pick it up

00:16:48.720 | most people when you watch them speak

00:16:51.840 | They're scared of the microphone

00:16:54.520 | And if and I used to when I was a kid I used to run an audio board at my school

00:16:59.460 | just kind of for fun mainly because I didn't like sitting in the crowd and

00:17:02.780 | Listening is easier to go run the audio sound system

00:17:05.640 | And people are scared to pick up the microphone and speak into it because they're concerned about being too loud now

00:17:11.360 | When I'm recording a show I need to learn some good mic usage so for example

00:17:17.620 | I usually don't get up here and talk like this because it was just a little bit too much and you can hear every sound

00:17:22.960 | I make I

00:17:24.960 | Usually pull back a little bit like this

00:17:27.040 | but if I sit back like this you can totally hear just the difference in the sound if I do something like this and

00:17:32.120 | The difference between this my normal speaking tone of voice is where I'm talking to you like this and this

00:17:38.840 | Where I'm right here

00:17:41.120 | That's a total difference of about eight inches and how I speak in the microphone and you can hear in your ears

00:17:45.840 | You can hear the difference so little rant here. Just speak into the microphone

00:17:50.920 | Pretend you're kissing it frankly let the audio people cut your audio

00:17:55.600 | But if in several of these situations if you have a room where the people aren't really paying attention to you

00:18:01.600 | At least if you're loud those are the people who are those who are interested in hearing you can

00:18:08.220 | Can hear you they can hear you over the the roar of the crowd?

00:18:12.520 | But if you're sitting back here like this, and there's just a general

00:18:16.400 | There's just a general noise in the room, then it's just the worst of both worlds

00:18:21.480 | So don't be scared of the microphone kiss the microphone while you're talking and let the sound people

00:18:26.320 | Adjust your volume and then finally just a tip like get control the room speak into the microphone be loud and have something

00:18:33.320 | Interesting to say is really the big thing make sure that you have something interesting to say that's going to be appropriate for

00:18:39.280 | The crowd know your crowd before you're going in and have something

00:18:45.000 | Interesting to say to say

00:18:47.000 | Sorry that just bothered me in the last one if you're in the crowd try to help the speaker

00:18:52.560 | I mean, I really think it's so tough to be a speaker and so many people are not accustomed to it

00:18:57.840 | We're not accustomed to

00:18:59.840 | How to do these things and you know when you're nervous about giving a speaker it's gonna be about giving a speech

00:19:06.320 | It's so much more challenging to take control of the room help the speaker out try to shush your table if you can be polite

00:19:12.760 | Just bothers me. I know it's just personal pet peeve. So

00:19:16.440 | There's a rant I got off track. Let me get back on track

00:19:19.560 | Hopefully, that'll just be a helpful tip I don't mean it to be a

00:19:24.400 | Hopefully that will help some of you. I've been in that situation. I'm sure I'll be there again

00:19:28.620 | So hopefully that will help some of you back to recording the show. So a speech is

00:19:33.200 | Really, even though one person is talking

00:19:36.420 | It's very much two-way communication. So when you're speaking to a crowd you're watching

00:19:42.280 | the

00:19:43.480 | Feedback you're watching how the crowd is engaging and you're adjusting your speech to how the crowd is responding and how the crowd is reacting

00:19:50.760 | So in a speech even though one person's talking it's two ways

00:19:54.720 | And so that's really great because you can see what's working. What's not you can watch the crowd

00:19:59.080 | You can see whether you're having the effect that you want or whether you're not and and you can adjust accordingly

00:20:04.080 | but podcasting

00:20:09.560 | Because instead of me being able to visualize you in my head as listening

00:20:14.020 | I had to see the people in front of me, but instead of listening to

00:20:17.820 | Instead of listening. They're not listening. They're kind of hear you but you're just part of the general noise

00:20:23.240 | so if you hated that show forgive me as far as the live show that was a tough show to record and

00:20:28.960 | I'm gonna do it totally different next time never been in that situation before I almost feel like I owe the

00:20:36.000 | Listener who asked the question a completely new answer and who knows maybe I'll do it because thinking back on it

00:20:41.760 | I was so struggling to say am I getting my point across?

00:20:44.280 | I was distracted and all over the place even though I had careful notes

00:20:47.160 | It just didn't flow for me like it usually did so I enjoyed that very I mean it was challenging

00:20:54.320 | I enjoyed the challenge, but it was challenging

00:20:56.840 | So if you're a podcaster and you're listening to this that would be or you have the opportunity in the future

00:21:01.320 | Maybe that would be one tip that would be helpful for you

00:21:03.880 | The other show that I recorded that I released was the interview with Steve Stewart from the money plant SOS podcast

00:21:09.960 | and we talked about the Dave Ramsey show and

00:21:11.960 | Or we talked about financial broadcasting with a focus on Dave Ramsey

00:21:17.100 | I'll tell you I was very nervous about releasing that show, but I've received nothing but positive feedback on it

00:21:23.440 | And I thank you for those of you who have both commented on the show and who have sent me private emails

00:21:28.360 | I thank you for the feedback. It has been very encouraging

00:21:31.840 | I was shocked at this conference and I spoke about this with several other people who are involved in the financial media

00:21:38.120 | I was shocked at the level of

00:21:40.920 | Not gonna say animosity

00:21:44.840 | but at the

00:21:46.360 | criticisms leveled towards Dave and

00:21:48.720 | Frankly after the fact I wonder if I wondered if he deserved it because I think Dave's a great guy

00:21:54.000 | He's probably a guy that he and I would get along famously if we knew each other

00:21:57.960 | Maybe we'll get the chance someday, but you know

00:22:01.240 | it I was it was like you're walking through the hallways and you constantly heard people being critical of of

00:22:07.640 | Dave and you constantly heard people

00:22:10.720 | Just making comments and making comments and making comments and I have this sense in this

00:22:16.280 | Impression that he has helped and inspired so many financial broadcasters whether that's again podcasters bloggers

00:22:24.000 | You know financial media. He's inspired so many of us. I mean he inspired me to do the show

00:22:29.680 | I give him full credit for that not necessarily the the steps in the last couple of years

00:22:33.960 | But because of his work in financial media

00:22:37.240 | I got inspired by what I could do and tried to see what I could learn and

00:22:41.360 | But Wow was the criticism through the hallways of people that's always said man. He does a great job

00:22:47.600 | He you know, he's really great at this but some of the personality so I was not expecting that

00:22:53.960 | I was expecting something different and it just it taught me a couple of lessons of a

00:22:59.240 | Be careful when you're on top

00:23:01.240 | Because you're only gonna be on top for a small amount of time and if I'm ever on top

00:23:06.760 | I'm not even sure if I want to be but if I'm ever on top

00:23:09.120 | If you're my friend remind me to be careful because man the weight of responsibility that comes on your shoulders in that situation

00:23:16.240 | And the number of people gunning for you is is is gonna be massive

00:23:21.520 | It also just reminded me that we don't teach people really well how to deal with fame and we don't teach people very well

00:23:26.760 | How to be disliked and to be judged and to be critical

00:23:31.340 | I often remind myself about president presidential candidates and presidents that they are

00:23:37.040 | You know some of the most hated people

00:23:40.100 | By half the country and some of the most loved people maybe by the other half of the country and how fickle the public opinion

00:23:46.520 | is so

00:23:48.080 | I'm you know, I've been nervous to go forward little by little by little and kind of becoming more in the public space

00:23:56.840 | But I've had to recognize to learn and observe and as I said in the Dave Ramsey show

00:24:02.320 | I have a level of respect for Dave that I never had before starting this podcast and it has made me really just

00:24:09.840 | Consider some of my opinions about many other things

00:24:13.440 | many other aspects for example politics things like that just recognizing that what my experience is as a

00:24:21.440 | An onlooker or bystander it's gonna be very different than the experience of somebody who's actually in the race working

00:24:27.740 | and

00:24:29.800 | That's a useful lesson to keep throughout my lifetime and I share that with you as well in case that may be useful for you

00:24:36.640 | Now I am NOT gonna go out there and be critical of other broadcasters or even be critical of Dave

00:24:42.880 | I'm done. I don't care to be I have no interest in being negative or critical toward anybody

00:24:48.800 | My philosophy is just about all of us are probably doing the best that we can and if there's something that is dangerous

00:24:54.360 | Then I believe that we have a responsibility to point that out and that was why I felt that I could release that show

00:25:00.740 | but I'm done I've said my piece and I don't intend to to revisit it and

00:25:06.200 | Just because there's no need there's no need it's better to it's easier to just simply

00:25:12.720 | Lead with what you want to do rather than criticizing what other people are doing and if we would do more of that

00:25:19.120 | Someone coined the word one time

00:25:21.760 | Duocracy and I love that word that if more of us would just simply start correcting the wrongs that we see

00:25:30.160 | Whatever those wrongs would be

00:25:32.400 | That's what we need more of so less crit less critique of other people and more

00:25:37.680 | Just simply correcting the wrongs that we see I am

00:25:42.520 | Incredibly optimistic about the future of financial media. I never realized I mean I

00:25:47.120 | Had realized this a little bit but just being at FinCon

00:25:51.440 | completely

00:25:53.960 | reinforced this

00:25:55.520 | Opinion that I have I am so optimistic about our ability to learn more in the future

00:26:01.800 | The the key change that's happening and I observed this

00:26:06.080 | A couple, you know, I've observed this in the abstract a few years ago, but it was just really reinforced. Is that the walls are

00:26:13.960 | Obliterated the wall between person and person is obliterated

00:26:18.760 | so whether you look back at the media events whether it's the the the so-called Arab Spring with

00:26:24.080 | you know the connection of Twitter and Facebook and BlackBerry private messaging and just the ability for people to connect if you look at the

00:26:30.360 | ability of stars to connect with their fan base and to get discovered with their YouTube music and to

00:26:36.760 | Meet their fan base on Twitter. If you just look at this the walls are obliterated and in the financial media

00:26:42.560 | This is the best trend of all time

00:26:44.560 | this is awesome because people

00:26:47.240 | you can now access people that are like you and

00:26:51.360 | You can find people that speak to you. You can find people that

00:26:57.800 | That are appropriate to that click with you, you know

00:27:02.200 | So like there are comments there were comments on that Dave Ramsey show about well, you know, I was he's

00:27:07.660 | His heart the hardcore conservative Christian, you know thing didn't work for me

00:27:12.160 | Fine, you know, there's a soft core liberal

00:27:17.480 | atheist

00:27:19.800 | Financial show just waiting somewhere on the internet for you to go listen to and that's what's so cool

00:27:25.200 | is that people can find people who are accessible to them and

00:27:28.040 | One of the things that might is my personal challenges one of my own personal moral challenges is I find it easy

00:27:35.320 | To be jealous of people. I find it easy to be jealous of people who have experienced

00:27:40.700 | More success than I have who seem to be more capable and more gifted than I am

00:27:45.300 | Who seem to have things come more easily to them and even in the financial media space?

00:27:49.880 | it was the toughest thing for me was over the year of

00:27:53.480 | Kind of starting the show and recognizing that I liked it and then having to pull it off the air having to sit back and watch

00:27:58.640 | show after show after show after show get started and

00:28:02.320 | I was

00:28:04.920 | You know, it was tough for me because when I started I'm looking around and saying

00:28:08.840 | Wow, there's you know, there's not much great, you know, there's a couple good ones, but there's not anything really great here

00:28:14.520 | Maybe I could fit this need and then some people that are really admired and really respected fired up their shows and all of a

00:28:19.920 | Sudden I felt like wow, what do I have to contribute?

00:28:23.480 | but

00:28:24.800 | what I

00:28:25.920 | the the different approach that is just reinforced in my mind is just to see how different people will speak to

00:28:33.520 | different hosts of podcasts different writers of

00:28:37.280 | blogs or of books will speak to different people at different points in their journey and

00:28:42.520 | That is the the awesome thing to

00:28:46.600 | To keep in mind

00:28:47.800 | it's so easy at a financial media event to see all of the

00:28:52.520 | Interconnections and and it seems sometimes like like you have the same speakers at the same events

00:28:58.000 | It's like if you write a book and if you're known in the online new media space

00:29:01.040 | You're all of a sudden booked for 15 conferences where you're gonna go speak and it's the same thing

00:29:05.040 | Well, that is so it's such a danger also for bloggers and podcasters and things like that that you know

00:29:12.120 | Everyone gloms on to the same person for an interview and you feel like you're in this just this tiny little circle and maybe there's

00:29:18.240 | Somebody who's a celebrity in this tiny little circle. I mean most of you listening to

00:29:21.920 | to my voice it most of many of you will know who Jacob Lundfisker is or many of you will know who

00:29:28.520 | You know, mr. Money mustache is or many of you will know who?

00:29:32.160 | They're the big ones, but you know, JD Roth is things like that

00:29:36.120 | But the reality is is that the circle is so much bigger like these many celebrities within this little tiny niche

00:29:43.120 | It's awesome. I love the work that they're doing all of them

00:29:46.040 | I admire all of them, but the circle needs to be so much wider and

00:29:50.000 | And the key thing is is that as different people from different backgrounds start the different shows

00:29:56.360 | They appeal to people at different stages of their journey, and I keep reminding myself, you know, frankly

00:30:02.200 | The reason why I'm doing the show right now

00:30:03.920 | I'm excited about it and the feedback has been awesome

00:30:06.720 | But I don't really expect it to be all that much of anything for at least a couple years

00:30:11.640 | Simply because of two things number one is I have to learn the skills that I've never before acquired

00:30:16.920 | To be really excellent at this and that takes time

00:30:19.800 | Hopefully I'm getting better those of you who have been around since the beginning or who've gone back and listened to shows

00:30:24.580 | I think I'm getting better, but I still view myself as giving it, you know, my goal in my mind

00:30:30.460 | I'm giving it a couple years and I've talked about the thousand shows, but I don't really expect to be good

00:30:33.840 | Until I don't show 500

00:30:35.840 | And so I just view this as putting in my time practicing focusing learning reading

00:30:42.320 | You know going back and I listen to my shows and I think Joshua. Why did you say that?

00:30:46.500 | How did you not tighten that up? Why did you repeat yourself? Why did you stumble there? Why didn't you think?

00:30:51.080 | Before you talked why did you stick your foot in your mouth that kind of thing?

00:30:55.320 | And so I just view this as partly just as preparation now

00:30:58.740 | I'm so honored that there are so many of you who are along on the journey with me and that is exciting

00:31:03.620 | but in many ways this is I view what I'm doing now as simply

00:31:08.380 | preparation for what I hope is the is the prime time in the future and

00:31:12.640 | You know what today that's what today is actually national podcast day today or yesterday or national podcasting day

00:31:20.520 | Somebody made up this holiday and you know, congratulations, whatever happy podcasting day

00:31:24.680 | But the reality is is that still almost nobody knows what a podcast is and almost nobody

00:31:29.200 | Can knows how to access one

00:31:32.400 | But that's gonna change and to me that is the key thing is that you know

00:31:36.960 | If you're a financial podcaster pay attention to the fact that the tiny little market of people who are listening to podcasts is valuable

00:31:43.120 | but the most valuable is to reach the general public who's not currently being reached and

00:31:48.680 | That week that's the that's the the audience that we can impact and think of how we can encourage

00:31:55.160 | Those people and educate the people who aren't listening today

00:31:59.080 | So thank you for being an early adopter and for being here if you're here if you're listening to this voice and if you're involved

00:32:04.840 | In the financial media space. I would just say pay attention to the fact that

00:32:07.920 | that

00:32:09.760 | The the primary audience is going to be the audience that's going to find podcasting over the next five years

00:32:14.280 | That's where the audience is going to be

00:32:17.600 | So if you are feeling like I have felt you're jealous of somebody else's success or or you see someone else

00:32:24.280 | That seems to have an easier time. Don't worry about that. Just simply focus on

00:32:28.960 | Doing your own thing and serving the the people that you are able to serve

00:32:33.760 | I would love it if my show

00:32:36.600 | Appealed to everyone I really would because that would feed my ego

00:32:40.920 | But I've recognized that my show is simply not going to appeal to everyone and there are some shows that I listen

00:32:46.820 | I've listened to recently. I tried to break my not listening to financial podcasting

00:32:50.560 | Rule just to kind of get a lay of the land

00:32:52.960 | There are some shows that I listen to that I would never be interested in listening to

00:32:57.240 | but I've heard from some of the fans of those shows where the hosts just really speak to them and it's accessible and

00:33:03.520 | That really

00:33:06.800 | to me encourages me because all through our

00:33:10.040 | Society all through the world and this is not a US American thing

00:33:15.600 | this is all throughout the world the monopoly and stranglehold of

00:33:19.600 | Corporatism I'm not sure the right word I would say the monopoly and stranglehold of

00:33:27.120 | of

00:33:28.240 | Crony corporatism and that the big the big guns is steadily being broken

00:33:32.640 | Especially as generations grow up people often talk when I talk with generations that are older than me

00:33:39.120 | People often talk about the people that they know and that they that they always admired whether it was the in the US

00:33:46.120 | It was the NBC and the CBS and they the what's the other one ABC

00:33:50.620 | I guess is the third big network that would used to be around and Walter Cronkite

00:33:55.760 | Cronkite and Dan Rather and Peter was the guy that the I don't even know that the Peter

00:34:02.120 | What's his name Jennings? I don't know those big broadcasters that everyone knew every night and

00:34:07.960 | You know, I don't even have any clearly

00:34:11.400 | Clearly I don't have any concept of those people don't pay any attention now part of that is due to my

00:34:17.800 | intentional isolation and insulation from TV

00:34:21.440 | But still the the big media outlets are quickly losing losing ground as as the independent small people

00:34:28.360 | Gain ground. So this is just the best. This is the best trend in the world for freedom brings with it a whole host of problems

00:34:36.520 | But there is room for people who don't know a thing to just simply jump in and learn

00:34:43.120 | Again that's hard for me to take because I have this old-fashioned idea

00:34:47.560 | I got to go out and I got to become the expert and I'm gonna go and I'm gonna learn

00:34:50.600 | Boo boo boo boo boo and I'm gonna learn everything and then I'm gonna start and I think that is valuable

00:34:54.760 | I mean, obviously that's what I've done. So, of course, I think it's valuable, but I think that's valuable

00:34:59.240 | But I'm just shocked by how there's room for people who don't know a thing to just start and that's why I think

00:35:04.600 | Frankly, all of us should have a financial blog. I should have a financial blog

00:35:08.320 | Just to track what we're learning and share our lessons and we can help

00:35:12.320 | We can help one another and the best way to learn is to teach and now you're gonna get some stuff wrong

00:35:17.520 | And that's where there's a whole host of problems with a lot of people who aren't real experts

00:35:21.560 | In sharing things, but then there's some of us who like to think we may have learned some hard lessons

00:35:28.480 | Who might want to step in and help?

00:35:30.480 | so it's

00:35:33.680 | There's a bright day in the future. The future is incredibly incredibly bright one trend that I noticed in the

00:35:41.360 | FinCon however

00:35:43.760 | And I spent some time talking with a couple people who were at the conference it is getting tougher and tougher

00:35:49.640 | however for an individual to really on their own to kind of this this individualized approach to

00:35:57.000 | blogging financial blogging

00:35:59.480 | podcasting even

00:36:01.160 | I'm stretched to capacity. I'll talk in a few minutes at the end

00:36:04.760 | about just you know, what's going on with my show and kind of what I'm working on, but

00:36:10.600 | it's tough to do it as an individual because what's happening is that the

00:36:14.400 | quote-unquote new media is

00:36:17.120 | being transformed and

00:36:20.200 | People are learning the benefits of collaboration

00:36:23.880 | Taking the team approach to really growing things more than as individuals. So there are some massive changes

00:36:30.600 | going on

00:36:33.000 | Going on even in our industry

00:36:36.200 | Great some great speakers. I went to a few of the keynotes and a couple of the small

00:36:41.040 | Smaller breakout sessions and as usual all this into the sessions later when they release the recordings and

00:36:48.360 | Just was inspired again

00:36:50.080 | You know I went to go and see my friend money mustache his talk and I was struck again of how you got to just

00:36:56.720 | Do your own thing and ignore the competition ignore what other people are doing and do your own thing. This is hard for me

00:37:03.040 | Because you know, I mean it's easy for me to go and scope out what other people are doing

00:37:06.600 | But if I say to see that someone is quote-unquote, you know stolen the topic that I had planned it makes me frustrated

00:37:12.480 | So I'm actually done with I'm going on the back under my rock and I'm just gonna work focus on my knitting and try to

00:37:18.760 | Serve all of you and in the interest of serving you I'm done talking about FinCon

00:37:23.200 | Hopefully there were some interesting lessons that was there

00:37:26.160 | I don't again

00:37:27.540 | I'm only sharing because I want you to have value from

00:37:30.360 | Some of what I'm learning because I feel like we're friends and so from time to time

00:37:33.560 | I'll do one of these shows where you're sharing what I'm learning

00:37:36.280 | MSFS the MSFS I went to was was awesome the MSFS if this is your first time is it stands for master

00:37:45.520 | Masters of science and financial services basically it's a master's degree in financial planning and it's hosted by the American College

00:37:51.320 | which is a small college primarily with

00:37:54.080 | distance learning

00:37:56.320 | opportunities that is exclusively focused on

00:37:59.480 | financial services education

00:38:00.960 | they host a number of advanced designations and and they have their master's degree program and I

00:38:06.440 | Was interested in doing it a I was halfway there with a bunch of the classes I'd taken for other designations

00:38:11.840 | B I just I've always thought it would be cool to go and teach college as as my retirement plan

00:38:17.400 | Well, even when I was a kid

00:38:18.440 | I always learned that I really enjoyed teaching and I viewed kind of the perfect life as being a college professor

00:38:24.920 | You know you teach what three four or five classes a week

00:38:27.840 | you know depending and you got to prep for those and you get to research stuff that you that you like to research and you

00:38:32.880 | Get to write about stuff that you're interested in and you have this awesome schedule with semesters and summers off and the pay is okay

00:38:39.640 | thus the PhD glut and the

00:38:42.700 | Underemployment in the in the college world because of that now

00:38:46.560 | I think those trends are changing and I'm gonna talk about them more in depth as far as some of the trends I see

00:38:52.000 | but

00:38:53.320 | But I always thought that was because I always think well at least do a master's degree

00:38:56.080 | And so just became it was easy for me. I wanted to get it done

00:38:58.880 | I learned so much from doing the program and I learned so much from this residency and

00:39:04.600 | This residency we had two classes. We spent the first two days talking about

00:39:09.160 | advanced retirement strategies and this was

00:39:12.920 | Pretty hardcore pretty in-depth, you know real technical financial stuff. It was we talked about

00:39:19.440 | Distribution strategies we talked about

00:39:21.440 | Social-security strategies pretty pretty hardcore pretty in-depth things and then the second two days was ethics and I was

00:39:28.960 | Shocked by how fun the ethics class was I expected ethics to be boring if you're in the financial services business

00:39:34.880 | You know what a compliance meeting is. I expected it to be a two-day

00:39:37.920 | Compliance meeting basically where everyone is just done, you know after about 30 minutes, but it wasn't it was an awesome awesome class

00:39:46.840 | The best thing about it. However was the group in the academic terms

00:39:52.400 | They would call it the cohort and there were 15 other advisors there in addition to me

00:39:57.120 | I think there were a total of 16 of us in the class and

00:39:59.880 | It was some it was one of the most knowledgeable

00:40:03.520 | experienced group of financial advisors that I've ever had the the

00:40:08.120 | Privilege of being in a room with and we ranged from the oldest among us and with the most experience

00:40:14.880 | Was a gentleman from New York who was he said he was 75 years old and he had been working in financial services for

00:40:22.440 | 45 years

00:40:23.640 | There were a number of people there with 35 years of experience 30 years of experience

00:40:28.640 | many with 15 years of experience and then there was all the way down to one young man who had

00:40:35.720 | was two years out of college he had an undergraduate degree in

00:40:39.320 | financial planning and he was two years out of college and

00:40:44.040 | Was just finishing his master's degree and I was just so reminded that how different

00:40:50.000 | Adult learning is with X with people who were

00:40:53.760 | Experienced and knowledgeable and who want to be there versus some of the experiences in child

00:40:59.520 | education and child learning the adult learning was awesome and most of I wish actually for more of this in my life because most of my

00:41:07.080 | Education has been self self educated, you know, I've done I'm I'm I do better on just studying

00:41:14.000 | stuff on my own and

00:41:15.680 | You know all the classes I did just self study. I get the book. I read the book, you know

00:41:19.680 | I get the get the book read the book and take the test. That's it

00:41:22.800 | that's the formula and that that comes easily to me, but

00:41:26.240 | the I was so benefited from the conversation and from the discussions and it really wound up being such a

00:41:34.640 | cool

00:41:36.480 | juxtaposition or I guess as they would say as we would say today a smash-up such a cool smash-up of

00:41:42.720 | Of these two worlds of the first week being in the personal finance world of super enthusiastic

00:41:50.240 | Personal finance bloggers talking about personal finance bloggers and podcasters

00:41:56.140 | Some of whom have had some experience in the financial with a formal quote-unquote financial world

00:42:01.000 | but many of whom have not and then to one day later be there with a group of

00:42:09.640 | Incredibly seasoned advisors and just to see how similar our conversation was in many ways, but then how different our

00:42:16.440 | Conversation was I learned so much and

00:42:19.640 | We talked a lot about trends. What's it's interesting to me

00:42:24.040 | there are a lot of people in the financial blogging space who are very critical of

00:42:28.200 | Financial services and in many cases rightly so I'm very critical of

00:42:33.000 | the financial services industry in many ways and

00:42:37.360 | Rightly, so and what was interesting to me, however that all 16 of us

00:42:42.000 | Were very critical of the financial services industry

00:42:48.200 | So I'm sitting here saying we're on earth though

00:42:52.000 | I go find the people who are not critical or the people who were being critical of

00:42:56.240 | but I learned two important lessons is I learned lesson number one was

00:43:01.560 | the lesson of experience and qualifications I

00:43:06.840 | Am increasingly it's gonna sound a little bit silly since I've spent so much time studying

00:43:12.240 | I am increasingly convinced of the necessity of

00:43:16.880 | advanced financial planning knowledge and advanced financial planning designations in an

00:43:23.320 | advisor in your advisor

00:43:26.040 | All of us were from different companies there were only yet

00:43:30.760 | There wasn't one person actually who was from the same company of the 16 attend classmates of mine

00:43:36.320 | Or rather in the 15 classmates plus me the 16 of us we were all from different firms

00:43:41.200 | But all of us had advanced knowledge all I mean

00:43:46.240 | Everyone had at least two or three designations, you know CFP a CLU a CHFC. What you know, we see ma

00:43:53.840 | we all had at least a couple designations and the caliber of advisor that it takes to be

00:44:01.680 | You know to study is very different

00:44:03.760 | It was interesting because all of us no matter the firm and many of us came from

00:44:08.360 | respected firms and some of us came from firms that frankly

00:44:12.400 | I've not had a high opinion of just because some of the reps that I've met and we all shared the same

00:44:17.440 | woes we the same criticism of

00:44:21.360 | young advisors who

00:44:24.160 | who are

00:44:28.160 | I'm not sure how to express it advisors who don't care enough about their job to actually learn something

00:44:33.440 | but rather it's just about how much money can I make in a short period of time and

00:44:37.120 | There are some major challenges in the business because we don't know how like how do you get those people out?

00:44:43.160 | Well, well, the good thing is is that the market forces I believe are forcing them out

00:44:48.280 | I think we're gonna see some major changes in the professional world of financial advice and I think very soon

00:44:55.960 | Just because of the competition the best thing that's happened

00:44:59.200 | and this is actually my second point on what I wanted to share with you about a the

00:45:04.080 | common the common complaint of advisors, but be that the market forces that are going on in

00:45:10.040 | the industry

00:45:12.720 | the best thing that has happened to this industry my industry is

00:45:16.920 | the intense market competition and if you don't think

00:45:21.960 | market economics matters just look at the financial advice industry and if you look at the

00:45:28.080 | development of

00:45:30.880 | the financial markets in the financial industry

00:45:33.440 | The development of at first not really a very fragmented market, you know, very fragmented markets you were all everything was private investment the

00:45:41.000 | beautiful

00:45:43.480 | pastoral scene of Wall Street originally where traders came to to

00:45:48.080 | buy and sell shares of their company

00:45:50.080 | Under the tree that was there at the square or whatever

00:45:53.520 | There's a famous painting that if you pay any attention to financial history

00:45:56.160 | You see the development of the markets kind of the mania of the markets the stock brokerage business the stock brokerage business being decimated

00:46:03.920 | by

00:46:05.800 | the fund industry

00:46:07.640 | And then the stock brokerage business being decimated by technology online trading very few people these days have a stock broker

00:46:14.960 | Nobody even remembers that world

00:46:17.560 | then now you've seen the fund industry utterly decimated by indexing and

00:46:23.480 | In the last five years Vanguard has gone from this tiny not tiny they were

00:46:29.920 | Not tiny, excuse me. They were like the number two or number three, you know largest firm, but a

00:46:35.520 | family of mutual funds like American funds was number one and they were on the hill for a long time and then

00:46:42.280 | completely decimated in the last few years and

00:46:46.520 | I mean Vanguard is this is this is this behemoth it is massive and it is hard to find

00:46:53.160 | It's hard to find any financial literature that doesn't just simply assume indexing is a fact

00:46:59.080 | And it's so interesting because that has that so so that's destroyed fund expenses. You've seen a dramatic

00:47:05.600 | decrease if you study industry statistics of sales commission sales load internal expenses on funds just

00:47:12.920 | Dramatic dramatic decrease and that pressure is only continuing to intensify and so that's bringing down expenses and the margins

00:47:20.000 | Have become slimmer and slimmer and slimmer for advisors

00:47:23.680 | We talked a lot about this with some of the advisors that the pressure the intense pressure that is there on the margins

00:47:29.800 | For the average advisor is is it's intense. The pressure is intense

00:47:34.920 | It's it's it's a strong strong pressure and this is great for the consumer because it's driving costs down

00:47:42.280 | Now the interesting thing however is while all of us agreed that I and so I'll just give you my opinion

00:47:48.440 | There has never been a time in the history of the world where I can imagine it being more difficult for an individual to

00:47:56.280 | navigate through the swampy waters filled with

00:48:00.760 | Alligators that is the financial business that is the choice the financial choices

00:48:06.920 | You know the tax code is more complex than it's ever been the investment options are more complex than they've ever been

00:48:12.320 | the insurance choices are more complex than they've ever been and

00:48:15.720 | The decisions are more complex than they've ever been now. These can be dramatically simplified. They really can be I admire and want to

00:48:24.160 | venerate the people who talk about

00:48:27.400 | the simplest approaches to finance and

00:48:31.000 | I

00:48:33.440 | Am I'm a what's the word?

00:48:36.960 | Minimalist

00:48:38.320 | I'm a fan of simplicity and minimalism and I believe simplicity is is is key

00:48:44.200 | But the problem is is that the world that we live in generally there's this there's this difference between

00:48:49.120 | Simplicity is how it's expressed in a short article and the actual ability to be simple

00:48:56.080 | I mean sit down and read your homeowner's insurance contract. Have any of you ever done that?

00:49:00.880 | That document is not simple and yet that's one of the most straightforward

00:49:03.840 | Simple types of insurance documents you can get sit down and read your your car insurance contract. We don't even get those

00:49:10.480 | Sit down and read we don't you know, think of what that's like

00:49:13.600 | So there are more room for mistakes than there has ever been and there are more options available than has ever been

00:49:19.880 | so the interesting thing however is I see this incredible change is that the the

00:49:25.400 | incredible pressure on mediocre financial advisors is

00:49:30.440 | Driving margins down and is driving people out of the business and I think that is wonderful

00:49:34.640 | Get the the scumbags out of the business now if you are a well-meaning person and you are willing to be

00:49:41.040 | Intellectually honest and you're willing to be a person of integrity then that's fine. Stay in the business and learn

00:49:46.680 | but the

00:49:49.240 | price of good advice is the demand for good advice is

00:49:53.280 | Is going up it's going through the roof, you know, I thought frankly

00:49:58.760 | I thought that some of the ideas and the price levels that I think

00:50:01.960 | Financial planning should be should be billed at we're kind of high and I get a little bit nervous about how

00:50:07.160 | strongly I feel about good financial planning advice, but when I listen to some of the fees that that

00:50:13.520 | We talked about some of the fees that some of my classmates

00:50:16.760 | Charge, it was just it was amazing to me to just to think and I even had trouble just conceiving of myself ever

00:50:24.920 | Charging that much money for a plan and and just feeling like I was worth that much

00:50:28.840 | But once you see the value that you can make I mean, it's it's amazing. So it's a very interesting world

00:50:34.680 | I'm thrilled with I'm thrilled with the developments. I'm thrilled with the competition. I'm thrilled with the

00:50:39.560 | transparency, I'm thrilled with the

00:50:42.400 | I'm thrilled with it. It's it's I mean, I believe in market economies. I hate saying I shouldn't have said that

00:50:50.680 | I don't like it when people say I believe in something

00:50:53.320 | I think that the market economy is the great equalizer and I like that

00:50:58.880 | You see that happening right now in the financial planning business. I think it's an excellent excellent development and

00:51:04.800 | I see so many people really honing in on the great value that financial planners can provide and

00:51:12.680 | really learning how to

00:51:15.640 | Articulate that in a better way and I'm glad because there have been a lot of lies told by some people in the financial services

00:51:21.440 | businesses over the last few decades and yet that doesn't mean that everyone involved in financial services is a liar and a crook

00:51:26.920 | It just means that there are a lot of liars and crooks and there's a lot of people who are not.

00:51:31.840 | I have a

00:51:34.760 | Newfound respect for the importance of advanced planning knowledge and advanced planning designations. Frankly

00:51:41.200 | I think I think my friend Michael Kitsis has it right in his writing

00:51:44.240 | I don't think that he is the one who pioneered this idea

00:51:48.320 | but he's probably one of the more well-known people within the financial services industry and

00:51:53.120 | very quickly the you know a certified financial planner designation is very quickly going to be a minimum standard and

00:52:00.080 | If your financial advisor does is not a CFP certificate

00:52:04.280 | You should be asking him why not if they don't have any letters behind their name

00:52:09.120 | You should be asking them why not and what they're studying for and the reason may be very simple

00:52:13.840 | For example, the CFP board will not let you will not allow you to use your designation until you've had three years of industry experience

00:52:21.280 | So the young man who is in the class who has an undergraduate degree in financial planning has passed the CFP exam

00:52:27.360 | But can't use the designation that would be the reason why not

00:52:29.920 | But and it takes time to do all this stuff. It really does but if

00:52:35.120 | If your advisor doesn't isn't knowledgeable, I think you ought to be asking him why not

00:52:41.720 | And you ought to not saying fire him. I believe strongly there are some advisors who are incredibly knowledgeable

00:52:48.440 | Incredibly knowledgeable who have never you know, who never

00:52:53.520 | Never bothered just to go out and sit for an exam

00:52:57.840 | But I would encourage you as a consumer of financial advice pressure your providers because I do not want

00:53:05.800 | I'm a bit of a libertarian as you probably figured out by now

00:53:10.240 | I am I do not want to

00:53:12.800 | Have it forced that the government has to come in and and bring in more regulation because that is just is a disaster the market

00:53:23.200 | forces work

00:53:24.560 | We don't need more regulations the most over regulated business in the world and it doesn't the regulation doesn't do anything to reduce

00:53:31.280 | to reduce cheating

00:53:33.960 | It doesn't do anything. It just smart people just work their way around laws

00:53:38.360 | But when the market forces come to bear that makes a difference really does

00:53:42.480 | It was interesting because I thought I was I thought I was done with studying

00:53:47.520 | I've said or I'm like, I don't want to read these boring financial planning books anymore

00:53:51.220 | but I got to talking with the the staff and the team at American College about their PhD program and and

00:53:56.440 | It's very interesting

00:53:58.480 | One of these days I may start working on that who knows I realized that I actually am very interested in the theoretical side of financial

00:54:04.600 | Planning and some of the work that some of the research side and that's the primary reason to get a PhD

00:54:09.200 | I think is is if you're interested in the research side

00:54:11.600 | but there is such some awesome research going on right now to really advance the science of financial planning and

00:54:17.680 | So who knows maybe one of these days I'll I'll start studying again

00:54:22.320 | I I don't know but it was interesting just to kind of look through and recognize how much I enjoy studying some of the

00:54:28.440 | Some of the content who knows we can get this show going

00:54:31.800 | Maybe I'll have the time to if we can get the show making me any money

00:54:34.440 | Maybe I'll have the time to do that a couple quick things on the show

00:54:37.580 | And I'm gonna tell you how I did this two-week road trip for 600 bucks. I think you'll you'll find this a

00:54:42.680 | little bit

00:54:44.960 | Interesting. I was a little bit. I wasn't sure about about sharing it, but I decided you know what my podcast audience of my friends

00:54:52.900 | I'm gonna share it with you guys

00:54:56.720 | The fascinating thing about going to these two things was just simply the old max and that exposure creates opportunity I

00:55:02.400 | Had wound up with actually three distinct and different business opportunities that came out of simply this trip

00:55:10.280 | None of them expected all of them that could be awesome businesses can't do all three of them

00:55:15.760 | But it was just reminded me exposure creates opportunity if you're if you're not getting involved in your industry

00:55:21.440 | Just consider it because it's a lot better to have opportunities fall in your lap when you're not looking for them than to be out

00:55:27.680 | You know sending resumes off into the dead end

00:55:30.520 | You know into the trash bin that is the the address that you send those resumes off to

00:55:34.680 | As far as the show shows going well, I just reminded while I was

00:55:38.140 | While I was at FinCon that I've got to figure out an upgrade a little bit and figure out some of what I'm doing

00:55:45.840 | With the show and how to build it as far as build some of the you know to earn a little bit of money

00:55:51.640 | Off the show frankly. I don't know how I'm gonna do that and

00:55:54.400 | I've not been

00:55:56.840 | I've not kept it a secret

00:55:58.160 | I'd like to earn a living from doing this show because I really enjoy doing it

00:56:01.800 | If I weren't able to if I'm not able to earn a living from the show it would have to I would have to reduce

00:56:07.040 | The amount of time that I put into preparing for it

00:56:09.200 | and I don't want to do that because I've received such an amazing feedback from you the audience and and

00:56:15.000 | just the emails and the

00:56:17.000 | comments about how much some of the

00:56:18.960 | Content has helped and I thank each and every one of you for those comments and those emails that really makes a huge difference

00:56:25.280 | So there are a few different models

00:56:27.960 | And I'm not sure exactly what I'm gonna do

00:56:30.080 | The as far as how to earn a little bit of revenue on the show at this point in time

00:56:34.680 | Let's see for September we wound up with about sixty four thousand downloads

00:56:39.040 | For the month of September total and wound up being I guess about we're up to about 2,500 downloads a day, which is pretty exciting

00:56:45.880 | That's awesome for the third month of the show

00:56:47.960 | That's really thrilling to know that there's a couple thousand of you guys listening to me

00:56:52.260 | And I'm hearing from many of you and I thank you for being there

00:56:54.880 | Thank you for those of you who are mentioning the show to other people. I really appreciate that

00:56:59.640 | That has been awesome. My issues with some of the compensation models. I just don't like some of them

00:57:06.120 | For example, I could accept advertising

00:57:08.120 | But the problem is that I view advertising as a personal endorsement and it's so difficult to me

00:57:14.440 | I'm so skeptical and frankly suspicious of I

00:57:17.600 | Guess I'm a hard sell in a lot of the companies that are commonly advertising in the financial world

00:57:25.720 | And I know enough about the details of the financial world to be careful. There are some companies I guess that could advertise

00:57:33.600 | That I could go and and I could feel really good about advertising

00:57:37.400 | Accepting them as an advertiser for the show

00:57:40.200 | But then I think well am I watering down the content? Do I really want to feel like I'm working for someone?

00:57:47.240 | I want to be free to be able to

00:57:49.400 | express my opinion without fear of

00:57:52.160 | Controlling it once you've gotten free of having to worry about the corporate image

00:57:57.880 | I mean, it's it's hard to for me to consider going back. I do shows with tax cheats

00:58:02.000 | I mean, how awesome is that? I sit here and I talk with people who you know, and I mean

00:58:06.520 | I specifically use the pejorative word tax cheat, you know to illustrate it's like how looked down are you?

00:58:12.600 | Oh, we don't pay my taxes. I think that's that's fascinating

00:58:15.360 | I do all these radical crazy nuts shows and if I had to worry about a certain advertiser being a you know

00:58:22.160 | Worried that I'm gonna do a show on dumpster diving

00:58:25.240 | You know, I like talking about that stuff. So it's hard for me to figure out who would be willing to

00:58:32.000 | Sully their their corporate image

00:58:34.680 | Show

00:58:38.960 | The more common, you know way to make money off of a show like this would be

00:58:46.440 | What are they called referral fees and or?

00:58:49.720 | Affiliates affiliate commissions, but half of the affiliates that are commonly bandied about I got issues with half of them

00:58:57.160 | Do so I really don't do myself any favors

00:59:00.720 | in

00:59:02.360 | Ticking off everyone who listens to the show. All right, not taking everyone who listens to show

00:59:07.000 | I don't do myself any favors by being as suspicious as I am of different companies

00:59:11.940 | So we'll figure it out as time goes on. I got a few ideas

00:59:13.940 | Pursuing a couple of options. I could just simply go with a listener support model

00:59:18.520 | but then I

00:59:20.280 | Can't stand it when NPR does their their like begging drives

00:59:24.280 | And so I could set up a model where if you enjoy the show you kick in a couple bucks a month something like that

00:59:29.580 | but I I just despise it when they go and beg for money on NPR and

00:59:35.760 | so that makes so I basically

00:59:39.080 | Sit here and I think huh? What am I gonna do? I'm not exactly sure so we'll figure that it was out as time goes on

00:59:46.840 | All right wrap up here and I am going to share with you

00:59:50.440 | the weird

00:59:53.160 | Experiment that I did on this on this trip and share with you how I did this this trip for so cheap

00:59:57.440 | I was a little bit slow to talk about it because even just still dealing with the social stigma

01:00:02.480 | But I decided it would be fun to do an experiment. I'll give you the backstory. I

01:00:05.640 | was when I wanted to go to I can't stand going to conferences and staying at the hotels because I just

01:00:11.960 | I've gone to so many of these conferences and you wind up spending a thousand bucks on hotel fees for the weekend and

01:00:19.880 | You know, you're there for three days and they completely just you know, they take advantage of the fact that there's a big conference

01:00:26.160 | I used to go to the Northwestern mutual annual meeting every year in Milwaukee and every hotel in the city is sold out and it's

01:00:32.420 | Like 300 bucks a night 200 200 300 bucks a night for a not very nice room

01:00:36.800 | And I just that bothers me so I never could quite figure it out one year

01:00:40.880 | I tried to find an Airbnb place to stay to avoid the hotel fees and that

01:00:46.880 | That didn't work out because I couldn't find an Airbnb place who would take me

01:00:50.400 | Couldn't figure out why I made my profile wasn't complete enough

01:00:53.540 | But like and also not having a car is problematic

01:00:56.500 | And so I mean the really the easiest thing to do is to stay at

01:00:59.720 | Stay at the hotel at the conferences at and so

01:01:03.000 | But this one when I originally planned to take my family with me, I thought it would be fun

01:01:07.400 | We would do a camping trip. I like to I like to go car camping

01:01:09.860 | And so I thought it'd be fun. I would camp out there

01:01:12.840 | I looked and I found a really beautiful park near the college in Philadelphia

01:01:17.400 | I figured we'd be there for a couple extra days and then I found a really beautiful park in Louisiana

01:01:22.320 | So that was my original plan. Well, then when I found out my scheduling kerfuffle

01:01:26.640 | Then I realized well, that's not gonna work. I can't my family

01:01:31.260 | I can't take stick my one-year-old son in the car and expect him to be able to get from

01:01:34.960 | New Orleans to Philadelphia in one day and force my you know

01:01:38.940 | My wife and son to do a 16 or 17 hour drive in about 30 hours, basically

01:01:42.960 | Because I had Friday night to Monday morning. So I decided that wasn't fair

01:01:48.140 | So I decided to go alone

01:01:49.100 | Which I didn't want to do because one of the goals of my life is I would like to have my family

01:01:53.740 | Integrated in everything I'm doing so I'd like to take my kids with me to a conference and and I want to teach them

01:01:58.620 | how to I want to teach them how to

01:02:01.700 | Interact in the business world and interact with other people and how to learn and how to be exposed to different things

01:02:07.140 | I would much rather my 10 year old learn his social skills by being at a FinCon with me

01:02:12.340 | Than that he learn it from a you know, a bunch of other 10 year old monkeys in a classroom

01:02:16.880 | That's where you know people talk about socialization of kids. That's that's how you teach social skills in my opinion

01:02:22.460 | the 10 year old in the classroom are guaranteed to doom your you know, your kid to a lifetime of you know being a kid but

01:02:29.120 | If you and he takes him 10 or 15 years to recover

01:02:33.380 | Maybe from that out of you know, when he finally hits the adult world and really learns how to be an adult

01:02:39.460 | I guess I don't need to be so inflammatory, but I do feel strongly about that

01:02:43.820 | So I want my family to be engaged with me and to be involved with me

01:02:47.100 | So I was disappointed when I recognized that it wasn't fair to to do that

01:02:50.300 | So I went ahead and I was gonna book a room for the for the hotel

01:02:53.780 | But by then I was gonna book a room and I was like, I don't want to pay this money

01:02:59.140 | For this for this thing. So I decided I had such a good experience

01:03:02.060 | Staying in the Prius when I was on the where it was, Texas when I went to Texas

01:03:06.860 | I

01:03:07.140 | camped in the Prius on the way there then stayed with a friend and then camped in the Prius on the way back and I'd

01:03:10.980 | Read about that online and I thought I thought it was such a cool idea

01:03:15.180 | I tried it out. It worked awesome

01:03:16.540 | And if you didn't hear that show the idea is basically that in the Prius you can put the seats flat

01:03:21.260 | So you put the passenger seat all the way back and then you flip the back seat forward and you've got basically a flat

01:03:27.740 | space that you can lie down in and

01:03:29.940 | You put your head at the back of the car and your feet at the front and it's not quite flat where your feet are

01:03:34.540 | but it's good enough and you put a little pad down like a thermo rest something like that and

01:03:39.060 | You put the pad down and it would

01:03:42.040 | And then you have a fairly comfortable

01:03:44.940 | Situation and because the Prius is a hybrid you can leave the AC on all night

01:03:48.800 | And it'll run the AC for you. You can leave the car on with the AC on all night

01:03:52.940 | It'll run mainly off the battery

01:03:54.620 | But every 15 minutes 20 minutes something like that kicks the car on recharge the battery then turns itself off

01:03:59.380 | So I had tried it on the way to Texas worked awesome. So I said, I wonder if I could do it

01:04:03.780 | So I read that I read that book

01:04:05.460 | I'd never done it prior to

01:04:07.340 | with the exception of one camping trip where

01:04:09.580 | My wife and I camped in the back of a car because we didn't have a tent

01:04:12.980 | In the back of my SUV at that time and that was where it was nice and cold

01:04:18.060 | I'd never done it

01:04:18.740 | so I decided it would be fun to kind of try it and

01:04:20.940 | I was a little bit embarrassed about it because I felt like I didn't want to

01:04:24.580 | You know, I was worried about I

01:04:27.220 | Wasn't doing it because I didn't have the money to pay the hotels. I was doing it because I'm just I

01:04:31.860 | Didn't want to pay the money for the hotels. I want to try something else

01:04:35.540 | So I didn't actually tell anyone I only told one person while I was in New Orleans that I was doing this

01:04:41.500 | But I tried it on the way out there and then when I got there it worked. It worked awesome

01:04:46.180 | I stayed in the car and I felt like a total I felt

01:04:50.620 | I felt a little bit of empathy for you know, the people who live in their cars

01:04:55.100 | I read these books again by these people who live in their cars. I felt a little empathy and I

01:04:59.180 | And I I just but I tried it and it was awesome

01:05:04.700 | I

01:05:05.260 | stayed in the car and I actually wound up staying in the car for two weeks with the exception of one night in Washington DC

01:05:10.420 | on the way home

01:05:11.780 | With stayed with a friend and my rule was that I said I'm gonna do this as a fun experiment

01:05:17.180 | but if it becomes too much I'm going to immediately stop and I'm just gonna get you know, I didn't have a I didn't have a

01:05:24.020 | of a

01:05:27.020 | You know a time limit that I was committed to I was willing to go and get a hotel anytime I needed one

01:05:33.160 | So I thought okay. I'll go ahead as long as I can go to get a hotel anytime

01:05:38.700 | I feel like this isn't work. I'll give it a shot and part of this was just wanted to try to stretch my boundaries

01:05:43.540 | I like the idea from I

01:05:46.500 | Guess it's probably more of stoic philosophy is probably the original

01:05:49.500 | originator of that

01:05:51.300 | It's as far back as I know to trace it

01:05:53.500 | But basically the idea of put yourself in difficult situations so that you don't need to be caught to be coddled

01:05:59.620 | Challenge yourself with difficult situations. So I figured one of the for example, I've always done car camping. I've never done backpack camping

01:06:07.200 | So someday I'd like to go out and do ultra light backpack camping because I'm scared of it

01:06:11.580 | I don't I'm scared of what would I do if I didn't have all the equipment that I can carry in my car

01:06:14.980 | So I try to challenge myself with the stuff

01:06:16.780 | So I wound up doing that and I stayed in the car and the first first night was fine

01:06:20.780 | I stayed at a rest stop kind of got got comfortable with it second night. I get to New Orleans

01:06:25.300 | I don't know what to do and and so here was how I kind of hacked the New Orleans parking

01:06:29.820 | I don't know if hacked. I don't know if I deserve the word hacked, but I thought it was a

01:06:32.740 | Good try I couldn't you know, basically in downtown, New Orleans. There's you got to pay for parking like crazy

01:06:38.980 | It's like 40 bucks a day for parking. So I said I wonder if there is a another option

01:06:43.300 | So I asked some of the valets and one of the valets suggested

01:06:46.540 | the casino so to cut this short because we're at an hour and eight minutes six minutes here to cut this short at the casino they

01:06:55.440 | Have an option where if you play if you gamble for at least 30 minutes

01:07:00.480 | They give you 24 hours of free parking and this is plastered all over the place. So I decided to try it

01:07:04.940 | so I went to the casino and I

01:07:08.540 | Signed up for their membership program and then I paid I figured out that you couldn't do card games table games

01:07:13.900 | I enjoy card games sometime but slots seem to be the most efficient way

01:07:18.080 | And so I would would play the penny slots as long as I paid the plenty penny penny slots for 30 minutes. I

01:07:24.940 | saved my

01:07:26.860 | my $40 a day a parking fee and

01:07:29.260 | That was cool 80 bucks an hour. That's not a bad wage

01:07:33.860 | To save to save the money and then number two I wanted to stay in in the casino garage the whole time

01:07:39.040 | I found an out-of-the-way place to park and I stayed in the casino garage and I had it figured out to where

01:07:44.460 | It was fairly private and it worked great

01:07:46.740 | So then Pennsylvania was easier because instead of being in a downtown

01:07:50.020 | There was lots of great parking lots and things like that and I had you know

01:07:53.860 | I had a hotel lined up that was a lot cheaper in Pennsylvania that I was gonna stay at if I needed to but I

01:07:57.780 | Had so much fun doing it

01:07:59.780 | that I

01:08:01.460 | Just thought it'd be it was it was it was a fun adventure

01:08:03.900 | I don't know that I care that much to ever do it again

01:08:06.460 | I really don't because it was it was a little bit of a pain

01:08:09.260 | To not have the biggest pain of it was not having a place to go that you could just relax

01:08:13.260 | So if you have a hotel room, you can set up your computer

01:08:15.700 | You can get some work done. You feel like you have a place that you belong

01:08:17.940 | When you're in the car because you you're so used to

01:08:21.340 | Being in the car and going places. It's kind of hard just to hang out in the car. That's a little weird

01:08:27.620 | So I wound up and I was working a lot while I was there

01:08:30.220 | So I wound up I went up hanging out with people or you know

01:08:33.980 | Go to the library and working from the library or something like that. So it was an interesting social experiment

01:08:38.900 | I thought I learned a lot from you know with people

01:08:41.900 | There's a lot of news over the last few years of people losing their jobs and living in their cars

01:08:46.500 | I wondered what it would be like and now I think I have a little bit of a little more empathy for what it's like

01:08:51.980 | Really not that bad in many ways, but also a little different. You definitely don't have quite the same sense of belonging

01:08:59.700 | I

01:09:01.100 | definitely if you were a single person

01:09:03.100 | Get man doing the Prius and getting 50 miles per gallon while you're driving across the country and camping in the car

01:09:09.020 | I think I can work awesome for a single person. I would have no

01:09:12.180 | Problem doing that again. I think I would definitely if I were in certain, you know, beautiful locations

01:09:17.140 | I wouldn't want to be stuck in the car

01:09:18.260 | I want to have a tent to go out and you know set up in the

01:09:21.700 | Beautiful mountain stream next to the pat, you know, the beautiful pasture in the mountain valley

01:09:27.260 | but as far as getting there and having a place to stay just it takes all of the

01:09:31.420 | Hassle of finding a hotel while you're on the road right out of the picture knowing that you can just pull over anywhere any rest

01:09:37.180 | stop any truck stop any just

01:09:39.180 | Grocery store parking lot and spend the night takes a lot of hassle out of doing a road trip

01:09:44.260 | So it was a cool experience if I were single, excuse me, if you were a single person traveling alone

01:09:49.980 | I think it works awesome. I saved at least

01:09:53.900 | See I was gone for two weeks. So let's call it 14 days minimum 100 bucks average

01:09:59.660 | So let's call it it was actually more like 150 probably because the places I was at was expensive

01:10:05.300 | So let's say I saved two grand doing it man. Put that two grand aside

01:10:09.060 | Let's run some math for you live on air 2,000 bucks. Let's see how much money I wound up with present value

01:10:14.820 | Let's run a 40 years, you know, let's run 12% for fun. So, let's see that 2,000 bucks 40 years for now

01:10:21.220 | I have 186 thousand extra dollars because of camping in the car for two weeks

01:10:26.060 | Not gonna work with two people by the way, not nearly enough room

01:10:30.180 | You have no room for stuff if you were two people so don't think that this is gonna be I mean try it

01:10:34.020 | Maybe you can but at least do a minivan if you're gonna be two people

01:10:37.140 | So that's my report for you from my trip. I think I've covered everything I wanted to cover. I

01:10:42.340 | Told you about FinCon told you what I learned

01:10:45.060 | I told you about my MSFS class told you some of the things I've learned

01:10:48.780 | I'm gonna be bringing some of the professors that I've worked with

01:10:51.220 | at the at

01:10:53.900 | The American College on the show here just to talk about some of the topics that we covered

01:10:58.540 | I mean, there's really really doing some excellent work tomorrow actually is an interview with dr. Wade Fowell

01:11:03.600 | he is a retirement researcher there at the

01:11:07.080 | American College and really does some in-depth research on retirement. I think you'll enjoy that

01:11:13.300 | So I will release that show tomorrow and then Thursday. I will probably assuming that the the interview goes off

01:11:20.300 | I've got an interview lined up with a young couple

01:11:23.540 | they have a family and that he's actually living in a bus while they build a house and

01:11:28.820 | What I'm interested in talking with them is I've read their site their website

01:11:33.940 | And it sounds like some things about it are really great and some things about it are not so great

01:11:38.040 | So I'm excited about bringing you that interview and that would be should be Thursday

01:11:41.740 | I've received a bunch of questions from you a few on the voicemail line and a bunch of questions via email for Q&A shows

01:11:48.220 | So I will do that probably on Friday and then release some, you know, some more next week. We'll see

01:11:53.700 | I haven't fully set out the agenda

01:11:55.700 | Thank you for listening to today's show. I'm not gonna close out with my normal music. I'm going to close out with a

01:12:02.540 | Fun song that I just want you to hear it's actually it's the FinCon

01:12:09.060 | 2014 official song probably it's called can't get enough and

01:12:13.540 | this song

01:12:15.740 | The background on it. It was written as a rap

01:12:18.460 | It's a rap song is written by a man named Matt Giovannese

01:12:22.820 | And he is one of the guys that blogs and podcasts over at listen money matters

01:12:27.800 | Does a good job. They have a very different show than mine. Go check it out

01:12:33.540 | You'll see what I mean if you're interested

01:12:35.460 | They have a very different show than mine, but they do they do a good job with their with their stuff

01:12:38.940 | So he wrote this song produced it and then they did a crowd sourced rap video with it with some of the people at at FinCon

01:12:47.100 | Lip-syncing with this video and I thought he did an awesome job with it

01:12:53.420 | And so I'm gonna close with that song send you out with it. Enjoy

01:12:56.820 | It's this this show is not gonna become all about the financial podcasting business

01:13:02.620 | But I thought you'd be interested in I know some of you listening are bloggers yourself. So I'm gonna send you out with that

01:13:07.900 | Thank you for listening. If you haven't done it if you like the show, please make sure that you subscribe

01:13:12.060 | I've learned recently a little bit more the science behind this stuff and and the reviews and

01:13:17.300 | Things that so many of you left really matters, but I learned that actually subscriptions make a big difference

01:13:22.580 | I never knew that cuz I figured everyone subscribe, but they all told me Joshua

01:13:25.940 | Make sure you encourage the audience to subscribe

01:13:27.740 | So if you haven't subscribed if you just come to the site site go ahead and subscribe on iTunes or whatever you do

01:13:32.020 | That'll help the show and I leave you with

01:13:34.020 | Can't get enough. Yeah, Fink on 2014 jetlag tote bags down in New Orleans

01:13:40.900 | It's like a field of dreams and it seems that everybody networking try to make them green

01:13:45.260 | Yo, we all prolific about money specific. We've got a head spinning like we're doing with it. Uh, it's just what we do

01:13:52.060 | So let's tell them what we all go through. Oh

01:13:54.780 | Wait, stop eight o'clock and I got writers block, but I'm on my fifth

01:13:58.780 | So, you know, I can't stop put my fingers to the keys and I start to write when I finish I can edit just to

01:14:04.460 | Make it tight then I hit submit. Yeah, that's legit sit back and watch all the shares

01:14:09.660 | I get I check Facebook and Twitter. It's only getting bigger. I'm getting mad likes till I hit seven figures

01:14:15.460 | I'm gonna bring a more credible link to me thinks that after that I deserve some drinks celebrate till I'm wasted

01:14:21.780 | I spend all of my dough. I never worry about

01:14:24.940 | Like a cheetah straight chasing down these algorithms I'm not to give a normal nerd an aneurysm

01:14:30.180 | It's just a matter of time until I start to rank and laugh all the way to the back

01:14:34.340 | Cuz I check my stats like every day

01:14:36.980 | Hey, even though nothing ever goes my way cuz I can't get enough

01:14:40.700 | And I'm just obsessed gotta refresh Google Analytics, so he's got me stressed cuz I can't get enough

01:14:50.660 | Oh

01:14:52.660 | It used to be so easy spinning content now it sounds so sleazy

01:14:59.980 | Keeping up with my blog roll cuz that's how we roll

01:15:03.260 | We live in the four rooms cuz that's how we throw we used to cheat the system

01:15:07.620 | Hunting us down, but they always missing and ever since then in the way back when

01:15:12.380 | It's harder than it's ever been now

01:15:15.220 | I'm begging for my lips comments and various tweets and every time I sell a book I hear them calling me thief

01:15:19.740 | And when I see a new subscriber, it's a sign of relief

01:15:22.220 | But when I see that leave my lips, it's always causing me grief. Oh, man

01:15:25.340 | Now I gotta tweet every day Facebook when I got nothing to say, you know

01:15:30.100 | It ain't that bad in a way cuz there's nothing that I'd rather be doing

01:15:34.260 | Cuz I check my stats like every day

01:15:36.660 | Hey, even though nothing ever goes my way cuz I can't get enough

01:15:40.380 | And I'm just obsessed gotta refresh Google Analytics, so he's got me stressed cuz I can't get enough

01:15:49.700 | Oh

01:15:51.700 | Cuz I check my stats like every day

01:15:56.700 | Hey, even though nothing ever goes my way cuz I can't get enough

01:16:00.700 | And I'm just obsessed gotta refresh Google Analytics, so he's got me stressed cuz I can't get enough

01:16:10.700 | Oh

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01:16:52.220 | (dramatic music)

RPF-0072-FinCon_and_MSFS_report