THIS is Why Stocks Are Making You POOR

Added: 2026-05-30

[00:00:00]Greetings, empowered investors. Thank you for joining us today. As always, I have one of our investment counselors here, Sarah. Sarah and I have been working together for about 19 years now.

[00:00:11]So, it has been it has been a minute. Is that right? 19 years, Sarah?

[00:00:15]>> 19 years in counting.

[00:00:17]>> Yeah. Well, [laughter] hey, we're almost having a 20-y year anniversary here.

[00:00:20]It's been a long time. Speaking of that, I just remember how things have changed and how they're the same. You know, the principles of investing, the principles of income property are just timeless almost, but the prices are much higher than they used to [laughter] be and things are much different than they used to be. Since we started with that, we've got a bunch of things to talk about, but do you want to maybe reminisce for a moment and just uh mention to >> I mean, it almost feels like we're back where we started. You know, when I met you in 2007, we were dealing with brand new construction. We were dealing with prices in the $150,000 price point. So, it's not quite the same prices, but we're back into new construction. Our clients are loving it. A lot less maintenance. You know, coming out of the recession, we got into a lot of the resell and reo forclosure type properties and those they did great for a long time and and now we're back into new construction and some of the resells as well. And really, we're almost back to the same mortgage rates that we were at. You know, everybody's complaining the rates are so high, but this is right where we were when I met you. [laughter] >> Yeah. Yeah. Well, right back where we started from, as the saying goes. But let's just kind of help people understand why you're saying that. So, you know, we are area agnostic. We like to say we just go where the deals make sense. We are disloyal to markets and we're also disloyal to deal types. We just want to offer you the best alternative available in the marketplace. And so 19 years ago, the vast majority of our product was new construction. And we are back in a new construction market. Now, as you know, coming out of the great recession, 2007, 2008, we went into a time where the builders built very little new housing for almost 14 years. Really, there was very little new housing built. And so, we were largely in a resale market for many years. And now the best properties we have, most of the time, there are exceptions to every rule, but most of the time the best properties we have are brand new construction. So that's what Sarah means when she says we're back where we started from, I think. Right.

[00:02:34]>> Yep. Yep. Exactly.

[00:02:36]>> And to clarify in the prices, the $150,000 price point back then, 19 years ago, was brand new construction from some of the most well-known national builders everybody's familiar with. And now that same new construction is 350.

[00:02:52]Is that a fair statement, Sarah?

[00:02:53]>> Yeah, we're still getting them in the mid twos, high high twos, but yeah, I would say 250 to 350 is like the average sales price for a linear market, right?

[00:03:02]We we deal mostly in linear markets that just kind of chug along as far as appreciation is concerned, but we're we're dipping back into some of the hybrid markets as well. you know, Phoenix. Well, I know you think Phoenix is more cyclical now, but we've got some opportunities in the 3 to 400 range in Phoenix and some of our other markets, higherend areas. So, we've got a pretty good mix of inventory right now.

[00:03:25]>> Yeah, we sure do. We sure do. And back in the day, and we'll stop reminiscing here in just a moment. I do want to give people a little bit of could have, should have, would have, okay? Because I'm feeling it myself. You know, I I should have purchased more properties. I should have kept them longer. Some of them, we all have those various regrets, right? If you go back and look at Zillow at some of the addresses you used to own, you think, "Wow, look at what that property is worth now." But we had inexpensive resale properties back then for, you know, touching $40,000.

[00:03:59]I mean, I I remember one of our investment counselors bought a $29,000 property through our network back then.

[00:04:05]And I want to say that was circa 2007.

[00:04:08]Steven bought that property. You might remember we were >> I call it more like 2009 kind of coming out of that 2008.

[00:04:15]>> Oh, really? Okay. Okay. Well, maybe you're right. I'm not sure. I'm not sure.

[00:04:18]>> Those were real estate like bankowned properties that people, you know, were foreclosed on, but um yeah, we 29,000 to 45,000 was like a sweet spot back then and now we're >> resales for remodeled resales, >> right? Yep.

[00:04:33]>> Yeah. Absolutely. And and the new homes more expensive than that. So, let's do a little debrief real quickly on our empowered investor live event. We just finished that about a week and a half ago. And of course, everybody loved it.

[00:04:46]We always get such positive feedback on our events because we just really try to provide real content. So many of these events that are offered are just a pitchfest for something else, right?

[00:04:59]It's always like the next thing.

[00:05:01]>> Yeah.

[00:05:01]>> Our event is the thing that is the destination. Okay. [laughter] So, We really put a lot of effort into, this might sound silly, but having less outside speakers and focusing more on our own content. Of course, we had a lot of our local market specialists here from different states, Alabama, Tennessee, Oklahoma, Arizona, and they presented, you know, markets within those states. So, we had our team here, a lot of our property managers, lenders, we had our asset protection attorney. We got great feedback on him. and we've worked with a few over the years and sometimes they get busy. So, we like to, you know, bring in new speakers and and teams for you guys to work with. So, yeah, we got a ton of great feedback. We shared a lot of meals together. We had the networking dinner Friday night, which was great meet and greet. Yeah. And it was, you know, it was really great to see some of our old clients, I don't want to call them like old clients, but clients that have been with us for a long time come back around and see that they've really grown their portfolios. And thank you to those that came up and shared on stage.

[00:06:05]We we used to do client panels where we we'd bring up some of our clients to share. This year we did it a little differently. We brought them out through throughout the event and we had um Derek and Anna came out and gosh, they've been with us since probably 2009. And >> what a great story. Let's just pause on them for a moment, Sarah.

[00:06:24]>> Sure.

[00:06:24]>> I mean, what a great story. You know, Derek and Anna, they started listening to our podcast years and years ago, and now they have 50 doors, 50. They grew from nothing back then. He He had the job in security that is the prompt for so many people. Maybe it's a layoff or something like that that really spurs them into action. Now, he's got a whole property business basically, right? So, pretty amazing. Or they do, I should and and the clients really liked how how they shared their humble beginnings, but one of the things Dererick said was that he just came up with a plan and he stuck with the plan. He was adamant on becoming self-sufficient, right? Not relying on an employer for his future and his income and his retirement. And a lot of people start with that plan and don't finish the job. And he really he really did. And he's he's still going. I mean, I maybe next time you see him, he'll double his portfolio size, but he really did achieve, you know, financial independence, and it was really nice of him and and and his wife to just get up and share and meet with some of our clients at the break. So, if you're listening, thank you so much for that.

[00:07:33]And we also had a couple more. We had um Mia and Matt and each and every one of them are all at different walks. Um you know, Matt brought his family of six. He brought his parents and um his brother.

[00:07:44]>> That was so cool. Yeah.

[00:07:45]>> Yeah. I think one it was family of five.

[00:07:47]I think one couldn't make it, but um yeah, they came and not only did they share, but they brought their family and they're now working on growing their portfolio and and changing some things up. And so they not only contributed to the group, but I hopefully they they got some key takeaways from, you know, other more seasoned investors as well.

[00:08:05]>> Yeah, that was great. And, you know, we don't pay any of these clients. They all came out of their own goodwill. We had some others that couldn't make it that wanted to come. It's just great. They got up on stage for, you know, maybe 15, 20 minutes, shared their story, and you just heard the real thing. They took questions, they did Q&A. It was fantastic. I mean, I just really love that. And and thank you so much to our clients because, you know, Sarah, I was asking you and we we go down this lane once in a while in our conversations.

[00:08:34]What became of these clients that were investing with us so long ago, you know, what happens is they kind of get really rich.

[00:08:44]>> [laughter] >> We don't see them anymore. You know, they're just out living the life on their on their real estate portfolios.

[00:08:50]They've they've done multiple refi till you die cycles. Maybe they've done some 1031 exchanges. They've they've done cash out refies and they're just living off that taxfree money and the income and the tax benefits of their portfolio.

[00:09:06]So, it's just a wonderful thing to see.

[00:09:09]Folks, no matter where you are in your journey, just remember income property is the most historically proven asset class in the entire world. And it works.

[00:09:17]It's the one dependable, reliable thing that has worked really since the beginning of time. I mean, it it's just been around so long. It's such an established investment class, isn't it?

[00:09:29]>> It is. And you know what what happens?

[00:09:31]Well, the way that we reconnected with Derek was that one of his friends registered for the conference and you know who referred you and you know so thank you for referring your friends and family even though you're too rich to uh [laughter] come back >> attend yourself. Yeah.

[00:09:45]>> Yeah. That they're referring their friends and family bringing them to the conference. So that's really cool to see. I'm now helping our clients adult children invest in real estate. And it was crazy this event. There were so many young adults in the room. Of course my kids didn't make it. They they wanted to, but they had some other things come up. But >> well, one of your kids made it actually >> last year. [laughter] >> No, I Hey, one was there.

[00:10:09]>> The youngest empowered investor was there, but um No, there were a lot of young adults. I want to say four or five, and they mostly sat through and listened. And so, if you're listening, good job. I'm really proud of you guys, and I look forward to working with you guys when you're ready. So, >> that was awesome. Okay. What else on the empowered investor live conference? If anything, did we kind of cover things?

[00:10:31]>> Another thing that uh we covered was our um note investing. We had our expert and his whole team out. A lot of people are, you know, they're working on different things right now. Some of them are doing 1031 exchanges. Some of them are doing your refi till you die plan. And you know, when they do the refi till you die, they the idea is to take that money that they cash out, refinance, and put it into more properties. But sometimes they're not ready to deploy all that money at once. Maybe they're working on a handful of deals and they've got some extra cash on the sidelines. And so what a lot of our clients are doing right now is they're becoming short-term lenders on the on different deals. And um they're yielding the projected return is 12% annually. And these are just 12 month short-term notes. they pay interestonly payments and um so we educated around that as well for some of our clients that have idle money sitting on the sidelines that maybe they're not ready to deploy yet. So that was >> in terms of buying a property, right? So the the notes what they offer of course I I always think the physical asset gives you the highest return because it's multi-dimensional and you know you have six dimensions and there are really more than six but six major dimensions of ROI or return on investment with your income properties. You have income, you have depreciation, tax benefits, equity growth through mortgage payown, appreciation, leverage, and my trademark strategy, inflation induced debt destruction. So, you have these the notes don't offer all those dimensions.

[00:12:06]However, what they do offer that people like is they offer a short-term commitment and they're very easy.

[00:12:13]There's a spectrum of active to passive.

[00:12:16]And as I always say, Sarah, there's no such thing as a truly passive investment. That doesn't exist.

[00:12:22]Everything requires attention. But the notes are more on the passive side of a spectrum. So if you really want something that's simpler, easier, being the lender is easier. And especially when it's short-term and you don't have inflation risk with such short-term notes and they're, you know, they're paying 12% interest a lot of times. So, the interest rates can vary depends on the deal, but uh pretty good pretty good rate of return, right?

[00:12:48]>> Yeah. I've talked to several other hard money lenders and they're offering, you know, 8 to 10% a lot of them. Some of them are even shorter term, you know, maybe 6 months and they're doing fix and flips and the client doesn't get the payout till the very end of the deal.

[00:13:02]So, what's nice about these is the deals uh are are leveraged at 50% or less give or take loan loan to value. So, there's a lot of equity in the deals. They're they're fairly low risk and you're getting those monthly interestonly distributions unless the borrower doesn't pay and you know usually if they don't pay you end up making a higher return because you collect either late fees when they get caught up or some of them go through the full foreclosure process but our clients aren't doing the hands-on with with any of that. the team that we have in place is handling that and the returns are much greater if the deal gets to that point. But most of them are just collecting that, you know, 12% interestonly payment and so it helps with some of the cash flow while their real deals, their income properties are making the big money with all the different dimensions. You know, people focus too much on cash flow and like cash flow is great, but it's just one piece of the pie. And a lot of our clients over the weekend had this question about, you know, what you call the deferred down payment where maybe they're taking on a slightly negative cash flow. And at first they seem to have a hard time wrapping their brain around it, but you did such a great job at illustrating, you know, how that basically goes away over time, right, through our strategy of refi till you die. And you you come into a positive cash flow and some of them are cash flow positive from day one. There's all kinds of different deals, different ways to leverage. You know, speaking of going back in the day when people could only get four mortgages at a time. Remember that, Jason? We went through >> to 10. Now, there's the DSCR loan. It's beautiful debt service coverage ratio.

[00:14:41]And right now, it's unlimited. So, who knows how long you can do this, but right now you can finance unlimited investment properties if they qualify.

[00:14:50]So take advantage of that because you never know when they could say, you know, we have a 20 property limit or, you know, like back in the day, a four property limit. I mean, we had really, really wealthy clients that could not tap into getting leverage on their deals. So, >> you know, the thing I want to say to people is that when it comes to analyzing a deal, it's just math, folks.

[00:15:14]Okay? This is really simplistic math.

[00:15:18]And if there is one thing that you must do, it's go get a free, no strings attached, property tracker account. Just go to propertytracker.com.

[00:15:30]We used this software throughout the weekend and it is really the most incredible tool to evaluate a real estate deal you might be considering to compare it with other options. Remember, there's that acronym in the financial world, T I N A, meaning there is no alternative. And what that really means is you want the best alternative available. But alternatives are not unlimited. There's only a certain cafeteria of investment options. and property tracker will just help you really understand the different components of return on investment and how you're really making money with these six major categories of ROI. So, please do yourself a favor. This is one of the best things that I did way back in 2004 when I discovered the software and then later bought the company because I liked it so much I did not develop it. We acquired it because it just helps you standardize things. And all you have to do is learn to read this one simple page that will tell you all the math that's involved in your deal and you'll really just have such a good understanding. And when you use property tracker, you can do different scenarios.

[00:16:53]You can assume the vacancy rate is higher than projected, the rent is lower than projected, the inflation rate is higher than projected, whatever you want. Change all the numbers around and see how it affects the bottom line. This is the holy grail right here, people.

[00:17:11]I'm I'm telling you, just get a free Property Tracker account. Go to propertytracker.com.

[00:17:15]Get a free account. You'll absolutely love it. And the one major component of it is the one-year projection. That alone is better than almost any advice we can give you on real estate investing or investing in general, any kind of investing, any kind of financial advice.

[00:17:34]So, propertytracker.com.

[00:17:35]>> Yeah. And Jason, there's a there's a feature on there that I think a lot of people may not know about. And I loved how you just did this in real time during the conference. And today we had our implementation Zoom with our conference attendees. We all got on Zoom together and did a recap and we went over this again. But you guys are all used to us sending out our property hot sheets. And if you're not getting these, you're probably not on our email list.

[00:17:58]So feel free to go to jasonheartman.com and get on our list. But we send out property updates and you can click on the the property link and it brings up that one-year projection that um Jason mentioned. But you can actually there's a tab you can click add property and it adds it to your free property tracker account. And so when we send it to you, we're sending in a certain set of projections. But what Jason was alluding to is you can click add property and then you can go in and if you think the vacancy rate should be higher, you can increase it. If you want to self-manage the property, you can remove the management fee. If you want to use a different property manager, you can use, you know, whatever property management fee your your company is is going to charge. We we do help you by providing a a a property management company. If you invest through our network, we help you through that whole process. But a lot of our clients are moving on to hybrid management or self-management. We have what I like to call a support group for that. Our empowered investor club, [laughter] >> that's a great name. Support group.

[00:18:59]>> It's like an investor anonymous group, right? [laughter] We get on Zoom once a month.

[00:19:03]>> It's a 12step program.

[00:19:04]>> It's more than a 12step program and [laughter] we're we're here for you every step of the way. But yeah, so if you're interested in joining our pro group and you need a more qualified group of investors to interact with, you know, maybe you can't make it to the live events, but you just want to have that investor community. I love Empowered Investor Pro. We meet monthly on Zoom and it's just like office hours most of the time. Everybody unmutes, we turn on our videos and we talk just like this and we we talk about, you know, the the goal setting and what we're working on, but we also talk about the challenges and we get so many great tips from each other on on how to overcome challenges and and move towards self-management if that's what you're looking to do.

[00:19:49]>> We do. We do. It's it's fantastic. And let me just elaborate on that feature Sarah was mentioning because a lot of people don't know about it. You need to have a free property tracker account to use it. But if you go to jasonheartman.com, you click on the properties page, you will see all these one-year performance projections, but they are static. If you simply look at a property, pick any property you want and click add to portfolio and as long as your property tracker account is open in the same browser. So, if you're using Chrome or Safari or whatever the browser is, same browser, have both open. It'll simply bring all of that data into your system, your free account in Property Tracker, and then you can play with the numbers until your heart's content. This is what will make you a good investor is to just see how those different scenarios affect the bottom line. I cannot tell you how valuable that is, and it's absolutely free. So, please take advantage of that.

[00:20:48]really important and empowered investor pro too. Good. Sarah, let's just go through a couple things as we wrap up. I shared a couple of these slides on our implementation zoom today, but I I wanted to just talk about them with you real quick if we can. So, what I've got up now on the screen is the ideal acronym plus inflation induced debt destruction that shows you the six major ways you earn return on investment from your income properties. And then I'd like to talk about this because this is something people have been doing since the beginning of time. They've been trying to time the market and this is from the stock market. Okay? You know, I like to call Wall Street the modern version of organized crime. [laughter] You know, you want to be in control of your own investments, especially if you're in the wealth building phase. If you're already wealthy and you want to just diversify and downshift to neutral, you can invest in stocks or precious metals or more boring assets. That's fine. But most people are in the wealth building stage. So you need to focus, concentrate and be a direct investor.

[00:21:52]And [clears throat] you need to overcome your own psychology a lot of times and that is this urge to time the market.

[00:22:00]There have been study after study after study, tons of research on this in every different asset class under the sun.

[00:22:09]Market timing doesn't work. Okay? It just doesn't work. I mean, [laughter] yeah, a few people get lucky here and there, but by and large, it does not work. So, here's an example, and I'm using a stock market example because they have zillions of dollars and, you know, zillions of researchers working for the vast Wall Street conspiracy, right? that whole empire and $10,000 invested in the S&P from 2005 to 2020.

[00:22:35]Now, obviously, there was a big down market in there, right? And most people would think, wow, if you could get out before the Great Recession and then get back in when things are on the upswing, if you could figure that out or in hindsight, it always it always seems easy, but not really. Here's what happens. If you stay fully invested, your return on investment is your total gain after this is you're you're up to $41,100.

[00:23:00]If you miss the 10 best days, your return drops from 9.88% to $4.31% and your investment drops from $41,000 to just over $18,000 if you miss the best 20 days. I isn't this telling? This is so telling.

[00:23:18]>> Is that 10 days in a 15-year period?

[00:23:21]Yes.

[00:23:22]>> Yes. It's a it's a you know, you just what happens to investors is they get scared and they pull their cash out.

[00:23:30]They pull it off the table, right? And then they miss these key days, right?

[00:23:36]And the whole thing just tanks. You want to generally speaking stay invested. And I know a lot of you right now are thinking, "Oh, the real estate market is going to crash. It's so unaffordable.

[00:23:50]It's due for a correction. Guess what, folks? I've been hearing that for over 30 years that I've been in this business. I've been in the investing only business for 22 of those 30 years.

[00:24:02]And I was in the traditional real estate business before that. And people were trying to time the market with their own owner occupied home purchases. And I was helping some investors buy properties, too. And they were doing the same thing.

[00:24:14]Folks, as long as the money printer is on, as long as there is a housing shortage, which there is, and it's very severe, we can argue about how severe it is, there's nowhere to go but in a positive ROI direction. And remember, unlike the stock market, your return on investment with income property is multi-dimensional. Six major pillars of return on investment that we just reviewed. And this example from the S&P 500 is a great example. You know, if you miss the 40 best days out of 15 years, all you'd have to do is miss 40 of these good days, your return drops to negative negative 4.26%.

[00:24:54]And your investment of $10,000 is now only worth $5,200. But here's the thing this chart doesn't tell you. Remember, you can't hear the dogs that don't bark.

[00:25:04]You always want to ask yourself, what are they not telling me? What is the article not telling me? What is the presenter not telling me? What is the chart not telling me? What it's not telling you here is that it's not adjusted for inflation. Okay.

[00:25:18]>> So, this is much worse than it looks when you adjust for inflation. So, just keep that in mind. Okay. What do you think, Sarah? Interesting.

[00:25:26]>> Well, yeah. Interesting because I was playing the Bitcoin game for a little bit and uh >> Yes. A speculative game.

[00:25:33]>> Yeah. Well, I was doing really well. I was like buying and selling and bragging to Jordan. Jordan's my almost 20-year-old son who got me into like the Robin stuff. Yeah. And he's doing really well, but he's just holding because he wants to save up for his first investment property. He's working on his credit and all of that. But um I was playing the Bitcoin game and he was getting on me because I was buying and selling. But I was always making money.

[00:25:55]I never lost. And I was just about ready to sell again at 129. You remember when that [laughter] >> Yeah. 126 I think was the high, right?

[00:26:03]>> Oh, I thought it was 129. But I was just getting ready to um sell and he talked me into holding and that was a huge regret I have because obviously we all know where Bitcoin is today and maybe we should say it for the video >> much lower this back but we're down to you know I think we got down into the 60s and so I was bummed that I didn't sell it but you know what the story doesn't tell you is that while I'm just sitting here at the bottom holding it waiting for it to come back because you know it may or may not but there's no income attached to it so it's sitting there Now, my real estate property that crashed back in 2008 along with all the other SoCal properties, I just weathered the storm. I held that thing. I turned it into a rental. I collected rental income. I took tax benefits, you know, and I just patiently waited for that thing to come back. And, you know, I had a $550,000 upside just on the appreciation by waiting it out, waiting for the market to come back. But in the meantime, I had all the other things working for me, the cash flow, the tax benefits, you know.

[00:27:02]So yeah, >> a multi-dimensional asset allows you to sustain yourself during bad times. I mean, Bitcoin and non-ividend paying stocks are the ultimate speculation game. Same with precious metals. Income property, it's the most historically proven thing there is. So that that's very interesting. Here is another interesting chart that just shows real inflation from the year 2000 to 2025.

[00:27:28]You got a quarter of a century here. the official inflation rate 93%. Okay, so if you had a one if you had $1 million worth of mortgages in that time, say a quarter of a century ago, you bought four investment properties and had a million dollars worth of mortgages. the inflation induced debt destruction if they were interest only just so for simplicity sake of course you can't get an interestonly loan that long but just for simplicity thought experiment here you basically got a $930,000 discount or inflation payoff from just inflation only one of six major return on investment vectors it's truly amazing and the unofficial rate of inflation based only on the amount of money supply that's been created during that same period.

[00:28:21]You ready? I hope you're sitting down, folks. If you're watching on video, you see this, but if you're listening, you don't know the number I'm about to tell you. [laughter] 388%.

[00:28:33]>> So, it's just amazing. It's unbelievable, right? And then you look at gold, which is the response usually to the inflation problem. And what you see here, although it's had a good run lately, you would have had to wait 25 years from the peak in about 1980 to another peak in about 2008, give or take. That's those are approximate time frames. 25 year weight just to break even. Just to break even. But that's not really accurate. And I'll tell you why.

[00:29:09]It's not adjusted for inflation. So if you adjust for the official understated rate of inflation, this weight was actually 30 years when you adjust for the CPI. But if you adjust for the real inflation rate, it's probably 40 years because [laughter] I don't have a chart on that. I'd have to do it manually because, you know, this is just a CPI chart. But the real inflation rate being higher means the gold has actually appreciated less visav real inflation. But just go with the official numbers. It was a 30year wait.

[00:29:42]And here's where investor psychology plays into it. How many people could just have the fortitude to hold for 30 years and wait patiently and not sell off and take a loss? Look at the loss you would have taken if you sold here, you know, in the early 2000s. I mean, it's just shocking how bad it would have been. That's what happens to most people.

[00:30:04]>> What if this was somebody's retirement years, you know? This just blew my mind when you showed this this morning.

[00:30:11]>> Yeah, it's really interesting. Folks, income property is the most historically proven asset class in the entire world.

[00:30:17]It's the most tax favored asset class in America. Reach out to us. Go to jasonheartman.com. Call 1 800 Hartman or the direct number. If you're international, you can't use the toll-free number. 714820-4200.

[00:30:32]Press extension 2 on either one of those numbers and talk to our investment counselors. Have them do a free portfolio makeover for you and have them help you determine the highest and best use of the assets you have. Make sure your money's working as hard as you do and really just make this money work for you. That's our goal in life to help you do that. Sarah, anything to wrap up with?

[00:30:56]>> No, you you hit the nail on the head. I was just going to suggest that you reach out to us for a portfolio review. I've been doing a ton of those, even with our clients from way back when, just putting their properties in a quick uh Excel sheet, seeing what kind of equity position they have, looking at their rent to value ratios, their mortgage rates, where can we squeeze a little more out of this portfolio, or where can we double it from 10 to 20 properties.

[00:31:20]Um, I've seen many clients do that over the years. And so, uh, if you want us to take a look at your portfolio, we're happy to do that.

[00:31:26]>> Well, Sarah, thank you so much for joining me. It's been a very long time since you've been on the show. Let's do it again and do it more often.

[00:31:32]>> Sure.

[00:31:33]>> Thanks for having me on.

[00:31:35]>> And everybody [clears throat] out there, reach out to us. We would love to assist you on your journey and help you just make your money work for you and have an easier, better quality of life. So, we'll see you next time. Happy investing.

[00:31:46]>> Happy investing.