Hello, everyone, and
welcome to what I humbly
consider to be a very
unique episode of TFC,
because it is our
first ever repeat guest
that was so heavily requested.
And I will get to that
guest in just a minute.
But before I do, I want
to say a quick hello
to our beloved
partners with whom
we make every episode of
The Financial Confessions.
So as you guys know, we make
every episode in partnership
with Intuit, which is
this amazing company that
makes all of these financial
products that have been,
no joke, changing my life
for, I think literally,
seven years now.
Because seven years
ago, I first downloaded
a free app called Mint,
which I have used ever since,
to manage my personal budget and
is the first tool that I ever
used to really take
control of my money.
But Intuit makes all
kinds of products
that help take every kind
of financial decision,
and goal, and task in your
life and make it so much
easier and more intuitive and
something that really actually
feels sort of nice to
do, because they have
beautiful interfaces, and
make nice pretty charts,
and give you notifications,
and all of the things
that you need to basically
have a second brain
in your back pocket that helps
you manage your finances.
And all of their products
work beautifully together,
QuickBooks, TurboTax,
Turbo, Mint,
to give you this really
well-rounded and nice,
beautiful way of taking care of
your finances at every level.
I have been using Intuit
products for, like I said,
seven years now.
And I could not
recommend them more.
So take a look at them at
the link in our description
or our show notes.
So as promised, you
guys wanted more Graham,
and you got more Graham.
Graham Stephan--
Hey.
--is back in our
Hollywood studio.
Smash the Like button for
the YouTube algorithm.
Smash that Like button.
Also, I have decided that your
fans are named Teddy Grahams.
OK.
OK.
And the Teddy
Grahams are numerous.
And you guys wanted him
back on the channel.
And when we threw
it out to you guys
that we're going to
do an AMA, you guys
came through with, I
think, the most questions
we've ever received
for a prompt.
So--
Cool.
We can't wait to dive into those
questions and both answer them.
But before we do, for those who
may not be familiar, Graham,
you want to give a little
info about yourself?
Yeah.
Yeah, my name is Graham Stephan.
I started as a real
estate agent, then turned
somewhat real estate investor,
then somewhat YouTuber
and personal finance enthusiast
is what I've been calling it.
Nice.
Yeah.
So that's me.
You are known in some
circles for saving about 99%
of your income.
Yeah.
--which is so cool.
And we'll get into more
of all of that later.
But I figured we
would just dive right
into some of our
favorite questions
that you threw out too us.
Looking forward to it.
And we will not be able
to get to them all.
But we'll do our best.
All right, let's do it.
All right.
So let's start with one of the
ones that you really liked.
Does Graham celebrate holidays?
And if so, does he buy gifts?
Yeah.
So I do celebrate holidays.
Like, who doesn't
celebrate holidays?
Yeah, that should not be a
part of your financial plan.
No, but I would say
like the major holidays,
absolutely, like New
Year's, Christmas.
Halloween is one of
my favorite holidays.
Some of the three-day
weekends, admittedly, you
know, those to me are
really another workday.
Yeah.
Sometimes it's a good
excuse to get out
of town on a long weekend and
just use that as like, hey,
you may as well just
leave, you know.
Go to Las Vegas for a few
days, something like this.
And of course, do I do gifts?
Yes, I do gifts.
Do you do a very specific
budget for the gifts?
I don't really have
much of a budget.
My thing is I don't
really ever want gifts,
because I feel like if there's
something I really want,
I would just go and get it.
So I usually tell
people, if you're
going to get me something,
just go and get something
for yourself.
You don't need to
get me anything.
And then for myself, there's
never really any budget.
It's just whatever kind of
comes up around the holidays
that I feel like might be
of good use within reason.
Right.
Honestly, I'm not going to
do thousands of dollars,
but within the few
hundred range usually.
Nice.
I think that's
pretty reasonable.
I feel like it might be
a generational thing.
I feel like our
parents' generation
is way more into a lot of gifts
than our generation might be.
I don't know.
That's just-- Ryan's nodding.
I feel like I've got
some backup here.
My parents on
Christmas, they just
love the tree with
it just overflowing
with gifts under it.
And I understand the
magic that that is.
But I also always feel
I kind of feel like you.
I have everything I need.
Yeah.
But I do like giving
a gift within reason.
All right.
So what's another Graham pick.
We have question 15 on our list.
And shout out to our
social media manager,
who always organizes
these so nicely.
Since Graham is a homebody,
why not move to an area
with a lower cost of living.
Wow.
That is a really good question.
And that's popped into
my mind so many times,
of just moving to--
honestly, Nevada would
be the only place
if I were to move anywhere.
Really?
Where in Nevada?
It's close by, I feel,
to LA, to California
and 0% state income tax, which,
for me, would at least just
be the only reason to move
would just be for tax purposes.
The only reason
why I have not done
that yet is really because
my entire life is here in LA.
All my friends are here.
My family is here.
I like living here.
And I'm afraid if I just
picked up and moved,
would I be miserable
somewhere else?
And would that
impact the work I do
if I was not as
creative, or motivated,
or really enjoyed where I live?
So for me, at least
right now, I kind of see
that Los Angeles, I'll
pay way more to live here,
but that gives me,
just like I said,
set support system
right now that I
think is really important.
Nice.
I live in probably one of
the highest, not the highest,
but it's got to be--
Manhattan's got to be
amongst the highest tax.
And we're also
incorporated there.
And I only, if I were
ever to move somewhere,
move somewhere
with higher taxes.
Higher taxes?
Well, France.
Ah.
Yeah.
We got the thumbnail.
The usual reaction.
Yeah, I know.
All right.
I'm going to get one
that was primarily to me,
but you can also
absolutely answer it.
Oh, this is a good one.
Is there such a thing
as too much diversity
in your investments?
I would say my answer
to that, I think
because everyone
knows that I'm just
an extremely risk averse person
when it comes to investments--
so I'm assuming by
extremely diverse,
they're probably
talking about having
just funds and just
basically as diverse
as you can get in that regard.
I would say it's almost
never going to be an issue
to have things too diversified.
The only thing
that I would say is
that you may not be
doing enough focusing
on the more medium term
versus long term investments.
And you want to make sure
that each of your investments
is really serving a
purpose, because, obviously,
the way you might invest
for something that you could
theoretically take
out in 10 years
is going to be
different from something
that you would take
out at retirement.
But I feel like I would rarely
say that too much diversity is
the problem.
Usually, the problem is that
there's not enough of it.
But again, I'm an extremely--
I invest in the most safe
and diversified possible way
I would say.
What about you?
I agree with that.
I know you're a
little bit more risky.
No, I agree with you.
I really think there's not such
a thing as too much diversity
when it comes to
your investments.
My only issue would just be,
are you playing it too safe?
If you're 20 years old,
and you're only investing--
I'm playing it too safe.
Yeah, but if you're going
crazier in bonds, or savings
accounts, or really super
risk averse investments
and you're young, then
maybe you could probably
afford to take on more risk.
But overall, I don't
think too much--
But then again, just
the question alone,
too much diversity
would almost lend itself
to thinking that you're going
really risky and really safe
at the same time.
So maybe just
diversity in itself--
Yeah, the question's
a little vague.
Yeah.
But I will say- well
so to your point,
if you are including things like
a high yield savings account,
and you've got a
whole bunch of money
in that, definitely
don't do that.
But in terms of like--
yeah, if you're having a
broad basket of longer term
investments, I think that's
generally the way to go.
Usually, the mistake
people will be making
is to put a lot of
money in something
like a single stock, which is--
Tesla.
Do you have money in Tesla?
I do.
Did you see my video?
No, way.
Tell me about it.
Wow.
What happened?
So I invested-- so when I bought
the car, the Tesla Model 3,
I figured I would just throw
some money in Tesla stock to--
in my mind, it was
like, oh, if this
pays for the sales tax of the
car, I would be super happy.
And I bought in it 260.
And then it went down
to 176 or whatever.
And I was super
bummed about that.
But I invested an amount where,
basically, if it went to zero,
I wouldn't really care.
Is this pre or post SEC?
S-- what?
The fine.
Oh, oh, no, this was
almost a year ago.
OK.
Yeah.
So my video the other day was
that I sold this stock at 9--
what was it?
912, I think.
Whoa.
Yeah, it was stupid how
much it was going up.
And I figured, at this-- because
my intention was sole Tesla
for a very long time.
I never buy individual stocks.
This is the only one,
because I got the car,
and I kind of believed in it.
Yeah.
But when I saw it run
up like that, I'm like,
now I would be stupid not to
take profits at this point.
So I did.
Yeah.
Well, listen.
So I always say that buying
individual stocks is really not
all that different
from going to Vegas.
And you did the exact smartest
thing someone can do in Vegas
is that when you have a bunch
of winnings, leave a table.
Yeah.
Don't stick around.
But I will say, also, I think
it's a good point that I
am very similar to
you in that if I ever
do buy an individual stock,
it's because I support
the company for some
reason outside of what
could potentially be
my financial health.
It's literally, I either
support their mission,
or I am a participant
in their product
and want them to thrive.
You have to have
some reason to do it,
because it's really not
a super sound strategy.
I agree.
If people could tell which stock
was going to perform and which
wasn't--
I know.
And that was luck, by the way,
for me selling at that price.
Totally.
Yeah.
What is it at now?
I think like 750.
I mean, it dropped like 20%--
Oh my god.
--after I had sold it.
But everyone is saying,
Graham, you knew.
You're so smart.
But honestly, the
tables would be turned.
I mean, it could have just
as easily gone up to 1,000.
And everyone would be like,
Graham, you're so stupid.
You're so dumb.
I can't believe-- you know,
so it's luck at that point.
I'll admit that.
Graham, have you
ever done something
reckless with your money?
Oh, man.
Not really.
I am so careful about money.
Reckless with money?
I bet $500 on the Super Bowl.
And I lost that.
This year.
Yeah.
Lost that one.
They were supposed to win.
Oh, no.
[LAUGHTER]
That was pretty bad.
Really reckless or not, I'm
so careful with everything
that I do.
Everything, right now, has
worked out so favorably.
You know what?
I guess the most reckless thing
I did, I threw like three grand
into a cryptocurrency
two years ago.
It was called RaiBlocks.
And I bought in, I think it
was like $1.60 or $2.00 a coin,
if you want to call it.
It went all the way up to like
40 something dollars a coin.
And I was sitting on some
really amazing profit on that.
And I didn't sell it.
Oh, no.
Yeah.
It was supposed to be listed on
this exchange called Binance.
And I was like, it's going
to go to like $45, $50.
And my plan was to sell
it as it approaches $50.
But it never did and
started going down.
I'm like, it's
going to go back up.
It's going to go back up.
And now it's worth,
I think, like, $1.
So now I'm like, I've
lost money on that.
Oh, no.
I know.
Listen, I mean, you
kind of get what--
you know what you're
getting into with coins.
I mean--
Yeah, but still.
Do you believe, and we
should both answer this one.
All right.
But I'll let you go first.
Do you believe that work is a
means to fulfillment or just
to wealth?
Oh, man.
I think you can go
both ways on that.
I think there is,
for some people--
I don't even know
how to answer that.
I think it's so personalized.
I think for a certain percentage
of the population out there,
your work can be a
means for fulfillment.
And I think if you
really love what you do
and you've found a way to
make money doing that, then
absolutely.
But I think for the majority
of people out there,
work is just a means to an end.
It's just something you gotta
do to get what you want.
And maybe they're not
totally passionate about what
they're into or really
enthusiastic about it.
I think it can be.
But I think, unfortunately,
the majority of situations
out there are not the case.
You know, I very
much agree with that.
I feel like what's frustrating
for a lot of people
is that a lot of times the
people who are giving advice
about things like work
fulfillment, et cetera,
are often people who
are in really cool jobs,
or people who really
do what they love,
or people who have the luxury
of working a job that extremely
aligns with what they want
to be doing every day, which,
to your point, is not
the case for most people.
I would say, I mean, for
me obviously, there's
an element of fulfillment to it.
But ultimately, at the end of
the day, I think people often--
it's the worst
outcome for people
when they treat their
job, especially when it's
just they're working
for an employer,
and they treat it as if it
should be everything to them.
Their work is their family.
And their job is their love.
I think that often,
for a lot of people,
creates really
unhealthy boundaries
between work and
life, where you'll
find yourself sending
emails at 11:00 PM
or checking it first thing
in the morning on a Sunday.
And it just creeps into
the rest of your life.
And I think you always
have to remember
that, at the end of the
day, work should enable you.
It should enable you
to do things you love.
But it should also enable
you to live a good life.
And if you find yourself
letting work overwhelm
the rest of your
life, that's time you
can't get back, in my opinion.
Yeah.
Now if you are someone
like Graham or myself,
and you own your own
business and that's
something that you
absolutely love doing, sure.
But I know a lot of people
who are, I would say,
a little bit too
dedicated to their work.
And it creeps into their life.
But if they're too
dedicated, couldn't that
be their sense of fulfillment?
It could be.
I think for some people it is.
But I do think a
lot of our audience
will say they feel a little
bit like workaholics.
They just don't know how to
put up that good boundary.
Yeah.
And I feel like--
that's why I feel like it's
important to have at least
one thing outside of your job
that you really care about,
a hobby, an activity, something
else that balances out.
Because if it's just
work, and going to sleep,
and watching TV,
it's not healthy.
I agree.
How do you deal with the
anxiety and pressures of YouTube
to come up with new ideas?
I'm still trying to
figure that one out.
[LAUGHTER]
In terms of coming up with
ideas, I drive myself crazy.
Oh, really.
Yeah.
Oh, jeez.
So my process of coming
up with video topics,
I watch so much YouTube.
Yes.
I mean, I probably
spend two hours a day
watching YouTube videos.
And that's all my downtime.
If I'm not-- even as
I'm making breakfast,
the eggs are cooking
on the skillet,
and I'm sitting there scrolling
like, who is posting what?
And then I watch all my
videos at two times speed.
So that way I can try to
get through videos faster.
I do 1.5.
1.5, yeah.
Find a healthy balance there.
But I see what other
people are posting,
any trending topics
that come up.
I read so many websites too,
like CNN, CNBC, anything
on Reddit, any financial blogs.
I read so much,
really until the point
where just all of a sudden you
get this whiff of inspiration,
let's say.
I'll read a topic sometimes.
I'll be like, oh,
this is so cool.
Or I'll see something
that is trending
or something a lot of people
are talking about financially.
I'm like, oh, I want to
give my insights on this.
And that's typically my
favorite is anything newsworthy.
Right.
Or something happens
with a credit card,
and I can comment on it.
Those are my favorite
videos right now
to do is just my
commentary over a subject,
less right now how-tos.
Yeah.
I started doing a lot
of how to make $100,
how to make $10,000,
how to invest.
I've just grown a little
bit bored of that.
Yeah.
Commentary stuff for me.
But it's a grind.
And there's certainly
days where I just
don't have any
motivation or just
there's just nothing there.
And I'm like, well I gotta
get a video out today.
So I have a backlog of just
ideas that I've come up
with in the past that I know are
going to do well that maybe I'm
not totally into.
But I know people
will enjoy them.
So I just chug through.
And I just do it anyway.
I would say that
that is probably
a more profitable, and viable,
and strong growth strategy,
because being
responsive and being
timely on YouTube hugely works
in your benefit as a channel.
It just is.
We have always made a
conscious choice at TFD
to not be timely at all.
We literally make
all of our videos
two months ahead of time.
We don't respond to anything.
And we don't know what's going
on when the video comes out.
We have no idea what
the news will be,
which does put us at a
disadvantage sometimes.
It just does.
I literally
recently, on a video,
commented on the Tati
Westbrook, James Charles
thing that happened a year ago.
Oh my god.
You can't do that.
No, I mean, very neutrally,
but you know, just basically,
I spoke about the issue.
But suffice to say, it
happened a straight up year
after that thing happened,
which is not how the YouTube
ecosystem and algorithm works.
So that has just been
a conscious choice.
And I will say, I
think that it leads
us to miss out on some things.
And it leads for our growth to
be less sharp than it could be
and for us to go viral
less than we could go.
But I think in terms of, for
me, balancing sustainability,
it's been a good option for us.
But that being said,
I'm not totally closed
off to the possibility of one
day getting a little bit more
into the commentary space.
Oh, yeah.
For me, it's definitely, you
have to upload within hours.
Yeah.
When the whole Tesla
situation happened,
I sold my stock that morning.
And then seven hours later,
I had a video out about it.
So some of those things, you
have to be on it, otherwise,
someone else will.
And I took pride,
by the way, in that
I was one of the first
people to comment about that
and really put a lot
of time into this.
So sometimes with YouTube, in
terms of a growth strategy,
you have to be the
first to comment
on it, because by the time three
other people talk about it,
it's old news.
You have to just be on it.
Yeah, I don't think
I've ever done that.
That's what I use Twitter for.
No.
It's so much fun though when
you get the pressure, just like,
a gotta get this.
This is like, you know--
and it's like this challenge.
It's this race.
It's like, I gotta get
this video out first.
Do you edit your own videos?
I do.
I do everything myself.
See, I don't do that at all.
So I would have to really--
I would be like-- could you
imagine, I get our edit.
I would be like,
Emily, get this up now.
My editing would
be so much better
if I hired a professional.
But no, I do it all
myself, all iMovie.
It's nice to have
control though.
Oh, yeah.
This one's interesting.
This one's kind of saucy.
Have you ever been told you
don't deserve what you have?
And how did you respond?
Don't deserve what I have?
I'm assuming they're referring
to being a millionaire.
Oh.
I've just never been--
that's just never been a thing
that's come up for me, I guess.
I've been told, I
mean, not that I
don't deserve what
I have, but I think
I've encountered people who--
because, to be honest,
what is successful in media
is kind of luck of the draw to
a large extent, in terms of we
got picked up by the algorithm
on YouTube one day in 2016.
I disagree though.
I don't think it's just luck.
It's not just luck.
Oh, yeah.
No.
Consistency, putting
out a good product,
all those things are important.
I believe there's a
strategy behind it.
And as you could dedicate
yourself to the strategy,
that will lend itself to be
picked up by an algorithm.
Beyond a certain extent, I
think there is an element of,
I don't want to say
favoritism, but I
do believe beyond
a certain point,
there's a bit of just some
channels are favored more
than others.
But until that, I think,
there's definitely
a strategy you can follow.
And some of that,
by the way, is just
you got to drop everything
when a trending topic comes up.
You got to do it.
You've got to be the
first to be on it.
Well I can only say
in our experience
that there was zero
strategy involved
in getting on the home page.
We literally did not
know what was happening
for the first three hours.
We were like why are
our metrics going crazy?
Our analytics are frozen
because they're so extreme.
And we did learn that that--
we later learned the dynamics
behind what led that video
to be on the homepage.
What video was that?
I think it was the things
that I cut from my budget
and don't miss at all.
I'm pretty sure
that was the video.
I'd have to go back and look.
There were a couple that were
on various trending things.
And one was on the homepage,
and I think it was that one.
And to be fair, we
did learn from that.
And we leaned into
that experience
and made some choices
that would recreate it.
When I've heard, not
you don't deserve,
but people being salty, it's
about why are you getting this
and another person isn't?
And the truth is, that yes,
some of that can be strategy.
But sometimes it's
just a question
of putting yourself in the
right place at the right time.
I feel like that's a
terrible mindset though,
to think that you don't
deserve this or you did this--
because otherwise, I feel
that almost puts yourself
in just a vulnerable
and victim mentality.
Yeah.
You're focusing more on
someone else's accomplishment
than you are on yourself.
And I think just the element
of focusing on someone else
and trying to put them
down or, let's say--
what's the word I'm looking for?
diminish, let's say,
there accomplishments.
Crabs in a bucket.
What is it?
Crabs in a bucket.
Never heard of that.
A bunch of crabs
are in a bucket,
and one starts crawling out.
And the other one pulls the crab
down to help himself get out.
But it just pulls
them both down.
Oh, see, there you go.
I feel like people
can get a lot further
if they focus more on
themselves than other people,
if that makes sense.
Negatively.
I think you can look for
other people for inspiration,
but not in terms of just,
hey, they shouldn't have that.
I feel that's
important for everyone.
Listen, we all probably look
at other people in any career
field and say, wow.
I would love to
have that someday.
But you have to learn to--
one thing that I have found is
extremely cool as a strategy,
is anytime I've seen someone who
I really admire, and I'm liking
what they're doing, and it
could easily turn to envy,
or resentment, or whatever,
I reach out to that person.
And I say, I'd love to
do something with you
or, at the very least, I
love what you're doing.
And it sort of diffuses it.
And now maybe that person could
end up being a collaborator.
Cool.
You've got to squelch
those feelings.
They're not healthy.
All right.
What differences in opinions
do you two have on money?
It's capitalism.
[LAUGHTER]
True.
Oh my god.
Taxes.
Taxes.
Yeah, well elaborate.
I'm a firm believer
that if you want money,
you just got to go
out and work for it.
I'm a firm believer that,
well not in all situations,
but I think in some I would
be in favor of slightly
lower taxes for certain things.
In terms of just a free
market, being able to go
and if there's
demand for something
out there or a problem,
you could solve it
and capitalize on that.
And those things to
me are important.
Raise my taxes.
I would love to pay more.
Love, love social programs,
love the government.
This is one of the
biggest misconceptions
that I feel is so
important to clear up.
Even if you look at a country
like Finland, I don't know,
any of these countries that have
really robust social programs,
they're also fundamentally
capitalist countries.
They have a free market.
So that's kind of
a misconception.
I clearly don't hate capitalism.
I have a small business.
But I definitely
think there could
be a stronger role of
the social safety net,
and I love to participate in it.
I actually enjoy paying taxes.
I get a little thrill out of it.
You do.
I love it.
It makes me-- it feels
like a privilege to me,
because it means that you're
doing well enough that you
can give to others.
That's kind of how I look at it.
Now does that mean I necessarily
love every single thing
that my tax dollars go to?
No.
But overall, it's better
than the alternative, which
is that you're not making enough
money to be able to pay them,
which used to be the case
for our small business.
Yeah, I mean, some places where
taxes go, I totally agree.
It's a necessary thing.
You got to do it.
I wish, and we could just
go in-- this is totally
another video on this.
It's maybe if some
of the tax dollars
went to better programs
and better uses.
Yeah, I think that's
true, for sure.
I would also say a big
difference philosophically
is, I think that you feel that
the individual has a stronger
possibility of financial
agency than maybe I do.
And I think there's
a lot of people--
I'm very interested in, for
example, the cycle of poverty
and how difficult that
can be for a lot of people
to get out of.
And I think what I
always want to do is
balance out what I think is--
obviously, we do give
financial advice.
There isn't a large
extent to which
I think people are capable
of helping themselves
into making better decisions.
But I don't think, for
example, that everyone
could become rich.
I really want to believe
that anyone can be rich,
because I think just even having
that optimism, that anything is
possible, certainly gets you
a lot farther than believing
that I can't do it.
Yes, what I'll say
that I do agree
is that I think that
it's important to keep
the belief that you could have
a better situation than you
currently do.
And I think that that's
important to keep
in all elements of life
not just the financial.
I agree.
Being defeatist
doesn't help anyone.
Oh, salty.
How do you both feel about
luxury goods as an investment,
such as Graham's watch?
How do you feel about my watch?
So tell everyone how
much your watch costs.
This
Is a different one today.
Oh, no.
Well tell them how much
the fancy watch costs.
Yeah, the fancy one
was about $20,000.
Here's the thing.
Unlike many financial
personal finance people,
I think that's fine.
I think that everyone--
what I'm mostly concerned
about is two things.
Can you afford it?
And does it genuinely bring
you joy, and fulfillment,
and it's meaningful
in your life?
I think there are
a lot of people
who buy designer and luxury
goods because they want to be
perceived in a certain way.
And they either do
that without it really
giving them much value, or
they can't really afford it.
And I think that's pretty
much universally bad.
But if something is genuinely of
real value and meaning to you,
and it's something you're
going to get a ton of use out
of every day or you
know very often,
I think you're fully
entitled to make that choice.
I totally agree with
you on that one.
I think another
component of that
is that a lot of, not
all, but some luxury goods
keep their value really well.
That's true.
Rolex watches, for
instance, some of them
should keep pace with inflation.
There's some watches out
there, like a Rolex Daytona,
you can get a stainless steel--
let's say, you get
it for $12,000.
Chances are it's going
to keep its value
if not go up in value
maybe 5% a year or so.
Yeah.
Not all watches,
but there are a lot
of things that you can
get that are basically
the equivalent of
a savings account,
same with certain cars.
A Ford GT would be
a perfect example.
For $300,000, you can have
this amazing, exotic car
and then be able to
drive it for years
and sell it for the
same price, if not more,
than what you paid for it.
So there's certain
cars and certain things
out there you can
certainly do well with.
Hermes bags, I think,
are another one.
I don't know much about those.
But I hear they're pretty good.
Yeah.
And the thing is that
it also just depends
on what is going to really add
value to your day-to-day life.
I would never, personally, buy
a luxury purse, for example,
just because it wouldn't really
make a difference in my life.
But I have a lot of kitchen
things that are very high end.
I have Wusthof knives.
I use stone cookware.
I use a lot of things
that on their ticket price
are incredibly expensive.
But I cook constantly.
And they really
improve my experience
of cooking every day.
Every time I slice with that
knife, a little shiver of joy
runs down my spine.
Nice.
And shitty knives are
dangerous, because you
have to bear down too hard,
and you can cut yourself.
How many bank accounts
do both of you have?
I don't even know.
Do you want me to count?
Sure.
OK.
Hold on.
I got to--
Let's count credit cards
too as a bank account.
OK.
Just to really give
the full spectrum.
And we can count
investment accounts too.
From what I see here, eight.
And that includes what?
Bank accounts.
Just bank accounts.
That's bank accounts, yeah.
Just a bunch of
different savings goals?
It's eight different banks.
Whoa.
Yeah.
Yeah, well some of the issue was
that I'm over the FDIC limits,
because I save everything.
So I try only to
keep 250 per bank.
And I didn't want to be too
concentrated within one place.
But also, I've
opened bank accounts
to get better mortgage rates.
I opened up one recently to get
a better interest rate on that.
And then other banks,
Ally is a big one
that I have multiple different
checking accounts with Ally.
But otherwise, I
basically just tried
a whole bunch of bank accounts.
Same thing with
like-- because they
make a lot of videos about,
what's the best high interest
savings account?
So for me to do
that, typically, I'll
go and open up the bank
account, go and use it,
and that way have a
firsthand experience
if I go and talk about it.
What about credit cards?
How many do you have?
Over 10, 11, 12,
something like that.
Honestly, I don't even
know at this point.
Several are business cards.
A lot are personal.
I wouldn't even know.
I don't even have them on me.
Yeah.
I'll go through it.
I have to think about it, but--
OK.
So obviously, investment,
retirement, all that
is separate.
So we'll leave that out,
but several of those.
I have my checking account,
my savings account,
our joint accounts, both
checking and savings,
all at the same bank.
And then I have, at
a different bank I
have business checking,
business savings.
And I think that's it.
So yeah, about seven,
six, seven total
that I use on a pretty
much daily basis.
And then credit cards, three
personal, one business.
Yeah.
You get more, some
more credit cards.
Yeah, I could get
more credit cards.
We're actually
thinking of changing.
Amex recently switched
around all of their benefits
with Delta, because
basically, the vast majority
of what I use my
credit card for,
because I fly all the time,
is just miles and points.
I also use the Chase Sapphire.
So just a lot of that.
So we're always just keeping
up on, what are the benefits?
Can we get a better--
you should always be
making those cards work.
And you can totally
call your card company.
You can negotiate things,
because you always
want to make sure that the
benefits that you signed up
for with that card
are holding in place.
And sometimes they change.
Agreed.
Chase Sapphire Reserve,
we're looking at you.
Yeah, we are.
Also, the Amex Gold.
All right.
A lot of bank accounts.
Oh, this is good.
How much money would you feel
you need to be satisfied with
and not feel like
you need any more?
I mean, my goal has been--
I really don't even have
a goal, but $10 million
was the number I felt that would
be just a cool number to hit.
And that's net worth?
Net worth.
OK.
That includes your properties?
Yeah.
I don't know, though,
because even at 10,
then you'll look
at people with 20.
And at 20, you'll look
at people with 40.
I don't think there's ever
an amount that you would
necessarily feel content with.
I think you could really feel
that with almost any amount
as long as you have enough
to cover your expenses.
So I mean, that's my answer.
It's just I think
we as people always
want to be progressing and
doing more and seeing progress
in what we do.
So I don't think
there's ever going
to be a number where you
hit that and you're like,
OK, I'm done.
I feel like there's always
going to be something
a little bit more that
you can do and work on.
Yeah.
I feel like I have
enough money now.
I don't need any more.
When we give our--
the partners were talking about
raises at the end of last year.
And I could have given myself a
bigger raise other people got.
But I didn't take it.
Because I was like, I'm fine.
I'm saving enough.
I'm on pace with all my goals.
I love where I live.
I love my lifestyle.
So I'm good.
I'll take the raise.
Yeah, no.
I'm good.
Give it to me.
You should buy
some luxury goods.
No.
Buy the Rolex.
No.
But I would-- no.
No, but in all
honesty, it's not just
for totally altruistic purposes.
It's also that at
this point, I'm
sure you can relate to
this, I would rather
keep more money in the company.
Yeah.
Fair enough.
The safest I feel,
the best I feel
is when TFD has a
huge emergency fund
and a great line of credit.
I totally agree with that.
So that's the most
important to me.
Cool.
Now Graham and I talked a lot
about taxes in this first half.
But no matter how
you stand on them,
you're going to
need to pay them.
And you're going to want
the right tools to do it.
I know that taxes are probably
not your favorite subject,
even though I love
them, as I keep
going off about in this show.
But no matter how
you feel about taxes,
they're going to be something
that you have to do.
And what is most important
in doing your taxes
is making sure that you're
doing them correctly
and that you're getting
the maximum possible refund
that you're entitled to.
It can feel sometimes
really, frankly,
overwhelming to do
taxes by yourself.
And you don't always necessarily
know if you're doing it right.
You don't always
know the answers
to the different questions
you're being asked.
So I highly recommend a product
like TurboTax, made by Intuit,
that will help walk you
through the process,
ensure that you're
doing everything the way
you're supposed to be doing,
that you're reporting all
of your various income
correctly, that you're doing
the right deductions, that
you're basically just doing
everything cleanly and well,
and ensure that at the end,
you're getting the maximum
possible refund that you're
entitled to.
What you want more than
anything when you do your taxes
is peace of mind.
And that is exactly
what TurboTax offers.
So I highly recommend
you check them out.
I have used TurboTax myself
several times to great success.
So find out more about TurboTax
at the link in our description
or our show notes.
This is a good one.
How much did you, Chelsea,
and would you, Graham,
pay for your wedding?
I'm happy to share.
Yeah, you go first.
So I don't know the exact
total off of my head.
But I will give you
the total breakdown
of how we paid for everything,
and what money we received,
and what was out of pocket.
So we had a bit of
a unique situation,
because we're from two
different countries.
So it was not realistic
for us to have
some big wedding with everyone
that we know in our lives.
So we had a fairly
reduced number of people.
We were 27 at our wedding.
And we had it in France
near where his family lives,
which meant that half
the attendees had
to come over from the states.
So our goal was to pay
for a villa for everyone
to stay for the
week and cover all
of their food, the actual
ceremony, all that, reception,
everything, so that
they would only
have to fly themselves
out, which is already
quite a substantial expense.
So they would have to
fly themselves out,
but that was it.
And we did no gifts
and everything.
So the villa, which we did pay
out of pocket for the week,
I believe it was somewhere
around $6,000, $7,000.
But that, obviously, is
lodging for almost 30 people.
We had a pool.
We had a bocce ball court.
It was fantastic.
And everyone got
to stay for free.
I think on top of that,
auxiliary expenses,
we probably, because we paid
for a couple people's plane
tickets, we paid for a
few things here and there,
rental cars, all that,
I think we additionally
maybe paid a couple grand.
So we came close to
paying about-- and a lot
of the meal we put toward.
I think we paid about
maybe $10,000 to $12,000
out of our own pockets total.
After that, each of
our parents contributed
$5,000, which went to various
things like a rehearsal dinner,
the actual ceremony
itself, the reception,
some of the auxiliary expenses.
And we, of course, also had
the food that was at the villa.
And Mark's, my husband's,
family, they're farmers.
So they had a lot of food.
And they also are
part of a wine co-op,
so they brought a ton of wine.
So we had a lot of freebies
on the food and drinks,
which really offset the
cost, which was awesome
and such a luxury.
But so suffice to say, long
story short, about 30 people
in a villa for a week with
all the various ceremonies,
we out-of-pocket paid
around $10,000, I think.
And our parents contributed,
between the four, $10,000,
so about $20,000, which,
believe it or not,
actually puts us way below the
average in a lot of states.
People spend more than
$20,000 on a wedding?
I think the average in New
York is something like $52,000.
What?
Yeah.
They're huge, huge these things.
How is it that expense?
I think the actual
average number is $37,000.
Wow.
That seems-- I don't know
anything about wedding expense.
I was thinking more
like $10,000 to $15,000.
Well if you think
about it, most weddings
are well over 100 people.
So if you just think
about the food, drink, all
of those costs, it totals up.
My answer is, I
don't really know.
But mine is like $10,000
to $15,000 I would think.
I don't know.
I just don't know.
Hard to say.
But the thing is it
really totals up even
if you do have a small wedding.
Out of the $5,000, for example,
that my parents gave for me,
$2,500 of that was
just dinner and after,
because we also did a
civil wedding in New York
with a much smaller group.
But even just that
dinner, it was $2,500.
This was like, I don't,
20 people or something.
Just go to McDonald's.
The dollar menu, have you
seen the dollar menu lately?
It's looking pretty
good right now.
You know, the thing is,
one thing I will say,
all things considered,
there's not
a single penny of that
experience that I regret.
And I highly recommend
small, intimate weddings.
I think the degree to
which your dollar stretches
and you're able-- because to be
able to spend a week in a house
with all of your favorite
people that you don't
get to see all in the same
place, that's something
I'll take to my grave.
For both, what would you
do if you won the lottery?
What would I do?
Honestly, it depends how much.
Let's say the
lotto, $360 million.
$360 million?
Probably what I
would do is just--
I'd probably take 10--
wait, wait, how
much? $300 million?
Let's just call it--
let's just say it's $150 million
after tax or $150 million.
I'd probably give immediate
family, I don't know,
$10 million of that
and just split it up.
And then the rest of it would
probably go into, I would say,
probably commercial real
estate or very large apartment
buildings that I would
just buy with cash.
Set up a property management
system on all of it,
so it would be as
passive as it could be.
And then I might just leave a
few million leftover in cash
to cover any expenses.
But all of that would be
spent pretty immediately
on just investing it.
I feel like that amount
is dangerous for people
to have all at once.
I feel like I would
just want to just
invest it as quick as possible
and then just live off
of whatever that produces.
Yeah.
I would, not to
make myself sound
like some kind of a martyr,
but I would probably do--
a lot of that would
go to charity.
I would like to start--
there are various non-profits
that I would like
to start if I had
that kind of philanthropic
level wealth.
Definitely do a few nice things
for family members for sure.
I would definitely set
aside a large amount of it
to see my in-laws
more frequently,
just a lot more frequent back
and forth across the ocean,
bring them here and vice versa.
And then as far as the
actual financial strategy,
I mean, I would
definitely put a lot away
in pretty secure investments
so that you know my 4%
is substantial to live on.
I would set myself up to
be financially independent
but in a much more sustained,
slow drip way that I'm not--
like you said, you want to be
overwhelmed with that amount
of cash at the same time.
And I would probably
buy a few properties.
And for charities too you
can often, by the way,
you could invest your money.
And then with those investment
proceeds, donate to charity.
Yes, I'm very--
I think I'm very uncomfortable
with a lot of money.
So I would--
You could pay it in taxes.
Half would go to taxes.
It would.
Actually, I don't know
how it would work with--
that's an interesting question.
Would France take
some of it too,
because it would be
both my husband and I.
And I don't know what
Uncle Sam is, Uncle Sam.
But anyway, yeah, we might
even end up owing taxes abroad.
Isn't that exciting?
Yeah, no, I mean, listen,
when my accountant was like,
are we setting up in Delaware?
I was like, New York state,
baby, where I live, where my--
Delaware sounds
so good right now.
--my little neighbor
kids go to school,
and we work on the roads,
and the firefighters.
OK.
Oh, this is a good one.
I know index funds are
a very safe investment,
but are they profitable?
Yes.
Yeah.
Yeah.
Good question.
Good question.
Of course, the answer is no.
No, they're not.
They're not.
They're a scam.
Nope.
Ponzi scheme.
Oh, ultimate favorite
books, does not
have to be finance related.
Think and Grow Rich.
How to Win Friends
and Influence People.
I would say those two books.
How to Win Friends
and Influence People,
I think for myself is probably
the most impactful for me.
Also, Awaken the Giant
Within by Tony Robbins.
And The 4-Hour Workweek,
Timothy Ferriss.
This gets you thinking.
Hitting the greats.
I will keep mine to the
finance slash business side
to just stay
consistent with that.
My number one all time
favorite book is a book
called Rework by the co-founders
of 27 Signals, Ruby on Rails,
Basecamp, just two
guys in the tech space,
who are all about just thinking
about work in a different way.
They're all about a more
community-based profit-sharing.
Everyone has a really
reasonable workweek.
Their employees are all
super well taken care of.
And they just are all about--
they're all super anti hustle
porn, anti burnout, anti growth
at all costs.
And it just completely
shaped the way
I think about owning a business.
And they also have
a recent book out,
their new one called,
It Doesn't Have
to be Crazy At Work,
which is also excellent.
So DHH and Jason Fried, they're
also constantly going off
on Twitter, very interesting
people to follow.
OK.
I'm trying to see which one
is a slightly different angle.
What is your-- oh, that's good.
What is your biggest
financial regret?
So thinking of this from
a financial perspective
of overspending on something
or a bad investment,
I really haven't
done anything that's
been that major,
because I really haven't
spent that much money on much.
And I've been pretty safe
about where I put my money.
I would say, if anything, my
only financial regret, and this
takes a completely different
approach with this,
is that in my early
20s, I would say,
well actually I would say
between like 18 and 23,
I didn't go out and do much.
I stayed home for the
sake of saving money.
And there were a lot of times
where friends would be like,
hey, come out.
Come out with us.
We're going to be going
and eating at this place
and going over here.
And I wanted to go.
But I didn't want to spend $50.
And so there were so many
times where I didn't go out.
And I would just sit at
home or just work extra.
So I regret not going
and doing those things.
And now you feel like you
have more of a balance.
Now I feel like I have
more of a balance.
But back then, I was
definitely way too extreme.
And looking back
now, I mean, that
would've made no difference
for me to go out on a weekend
and spend even $100 in a
weekend every now and then.
It would have made
no difference.
So I've definitely
loosened up since then.
This is a good one.
And I'm actually curious on
your feelings on this too.
And I just lost the question.
Let me pull it back up.
How important is it to have
good relationships with people
when it comes to business?
I think it's everything.
I mean, why wouldn't
you want to have
a good relationship with someone
when it comes to business?
Really important.
I don't how to answer that.
I mean, extremely important.
Yes.
I would agree.
I would only make one caveat.
So having healthy, wonderful
relationships with my business
partners, with my employees,
my colleagues, that is of
limitless advantage to
me and makes life better.
One thing I will say, though,
is that a lot of people
conflate business relationships
and personal relationships
in the sense that
you have to still
be able to hold
people accountable.
And you have to
sometimes separate out
your personal feelings from
someone with what needs
to happen on a business level.
And if you don't have
that skill, which
I still have trouble with and
took me a long time to develop,
it can be very harmful.
For example, you can stay
in business relationships
that aren't necessarily
beneficial to you.
Or you can stay at a job that
isn't healthy for you or not
where you can be doing
the best for your career
because you feel an outside
sense of loyalty to an employer
or what have you.
You have to make sure
that you're cultivating
those good relationships,
but you're still making sure
that the business
gets done, that you're
taking care of yourself,
and that you're not overly
giving yourself
to another person
and being taken advantage of.
You answer that way
better than I did.
[LAUGHTER]
I agree.
All right.
What's your outlook on
the economy for 2020?
I think-- so I have two things.
Number one, I feel
like there's so much
going on right now
with our economy
that I think would bode to be
a little bit more negative.
But the markets keep going
up and rates keep going down.
Some of that to me is
a little bit illogical.
Now does that mean you
should time the market?
No, because that's not to
say that this market won't
continue going up for
another 3 to 10 years.
Who knows?
But lately, I've been
a little bit more,
I don't want to say cautious,
but certainly more cautious,
because I feel like
I'm not concerned
that we've gone up for too long,
and this can't be sustained.
But I think the markets
right now are acting
a little bit more irrational.
And I think lowering interest
rates even further seems more
like a tactic to
prop up the markets.
But I'm not timing the
markets or anything like that.
I'll continue investing.
But I definitely
keep enough cash
on the side, where if
the markets go down,
I would be able to buy
back in at lower prices.
And if anything were
to happen, I'd be OK.
And I highly
recommend other people
do the exact same, to
keep an emergency fund,
don't invest more than
you're comfortable with.
If you need the
money anytime soon,
maybe you shouldn't
go all in Tesla,
certain things like this
that I think anyone can do.
But that's my thought
of the market right now.
I mostly agree.
I think anyone who claims to
know what the market's going
to do is a bit of a huckster.
Don't listen to anyone
who says that they
can predict the future.
They can't.
But that being said, we know
that these things are cyclical.
We know that, generally
speaking, around every 10
years, there is going to be
a little bit of a lull there.
I mean, it's pretty much
inevitable at some point.
When that point is, is unclear.
But on a personal
level, my husband and I
are keeping a lot more
cash than we usually
do, because there is
a fairly good chance
that in the next
maybe two years,
there could be an opportunity
to buy in at a low price,
as he mentioned, on
some investments,
perhaps even pick
up some property.
But just also we want
to make sure there's
a lot of liquidity,
because you know you never
want to be in a position where
a lot of your money is tied up
and at that point then you
need it, not worth a whole lot.
So just really keeping our
options as open as possible.
So yeah, I basically
just agree with that.
But I will say, again,
the kinds of steps
that you should take to prepare
yourself for a bear market are
really the kind
of steps that you
should take in life in general.
I agree with that.
Just like a slightly
ramped up version of it.
I agree.
And as my husband
often says, worrying
is praying for something
negative to happen.
So don't worry about something
that you can't control, just
plan and prepare.
I agree.
Chelsea, would you ever want
to live in France permanently?
Why or why not?
Maybe, depending.
Why?
Because otherwise, we don't
see my husband's family.
They're a lot less
mobile than my family.
It makes them sound like
they're all a million years old.
OK.
This one is absolutely adorable.
I'm 17 with enough money for
a down payment on a home.
Is it better to wait
until I can pay in full?
No.
17 though with enough
money to put it down,
that's pretty impressive.
I want to know what the
17-year-old is doing.
I don't have any
more information.
But no, I would not
buy a home in cash.
I don't think it makes sense.
If it's a rental
property, especially,
a lot of those mortgage
expenses are going
to be a complete write-off.
With interest rates right
now as low as they are,
it makes sense to almost
arbitrage your money.
You can get an
interest rate right now
in the low 3% on
a 30-year fixed.
And typically, if you were to
invest that somewhere else,
over the long term, you should
be able to make more than that.
So to me it just
makes sense to not
have all of your money
tied up in a property
and to instead at least have
it on the side, and you can go
and play with it.
And if you ever need
to, you can always
sell off those
investments to pay off
the house if you desire.
I mean, you're 17 though.
So I would encourage
them to wait
at least until
they're 18 to make
any decision of that magnitude.
Don't you think?
You think 17, you could make a
decision to buy a home at 17?
It depends what the
goal is of that.
But I feel like at 17 if
you've saved up enough money
to do that, I would put more
money into whatever you just
did to make that money.
What if it was a
grandparent dying?
Like kill the other--
Well then I think--
well if that's the case--
hopefully it's not that bad.
But if that's the case
and it's an inheritance,
then I think real
estate, of all places,
would be a fairly safe
place to park money.
Yeah.
I think that's probably true.
But I would consult
with a grown up.
How do you know that a
house is a good investment?
That's such a long
question to answer.
I look at the comparable
values in the area.
And I see what I can
get a certain deal for
compared with what everything
else is selling for.
So if you know the
market's area, let's say,
is a million dollars.
But this house is
the equivalent,
and it's selling
for $920,000, then
I know there's $80,000
of equity in that house
that I had built into that deal.
But also, if a property
makes good flow
compared to everything
else in the area,
then I think that's
another thing to consider.
So for me, I look
at those two things.
And then I also look at
the future appreciation
and the potential of the area.
I think there are
some areas that
have more upside than others
in terms of development,
in terms of where
people are moving.
And I think that's
something that you
can get ahead of the curve in
and just buy in an area right
before the development
starts up in an area
that you see people are
kind of moving into.
So that helps you on the
appreciation on that.
Nice.
That's my short answer.
Yeah.
And also, I mean,
obviously, if it's
going to be your primary
residence, does this suit
your needs to live in.
Where did I just lose it?
Oh, what are the best and
worst purchases you both have
made in the past few years?
Best purchase, well the best
purchase ever was the Tesla.
I mean, that completely
catapulted my channel.
So if it were not for me
buying the Tesla Model 3,
I mean, I wouldn't
have had that video.
That video would not
have done so well.
And I don't know where I
would be without that car.
So that car was definitely
my best purchase.
But that was never intended.
But that worked out really well.
That was a lot of luck
involved in that one.
Worst purchase I would say
was that stupid RaiBlocks
cryptocurrency by far.
I mean, that was very stupid
of me to have done that.
We stand an honest
man in this house.
It's really kind of weird to
refer to them as purchases,
but the best money I've
ever spent in the last year
was definitely my employees.
I have great--
I work with fantastic people.
And I just adore them all.
And they have made my
life so much better
and my business so much better.
And each one has been
better than the last.
So that's the best
money I've spent.
I would never refer
to them as a purchase.
But that's definitely
the best money.
Worst money I've spent, oh,
there's so many is the problem.
It's not that I have a
hard time thinking of them.
It's that I make bad
purchases constantly.
I would say, oh, definitely--
oh, my husband would kill me
if I didn't mention this one.
So I don't know how
I managed to do this.
But I bought two bed frames
[LAUGHTER] instead of one.
And even just
repackaging that bed
frame, because my poor husband--
so I bought two of them
without realizing I had
bought two for our guestroom.
We moved at the
end of last year.
I bought two without
realizing it.
The two boxes were
in the hallway.
And he thought they were
both part of the bed frame.
That's an honest mistake.
He literally disassembled
both packages.
And it's one of those
packages with a million parts.
And he lays them all
out, and he's doing it.
And it took him well into the
process to be like, holy shit.
This is two bed frames.
And then he spent several
hours reassembling the package.
And it is still in our hallway,
because it is about 100 pounds.
So it's very difficult to even
get it out of the apartment.
You should sell it.
This is the platform.
It someone needs an extra bed--
Honestly, at this point, if
you can come pick it up--
I live in Manhattan.
I'll give you the address
when you reach out to me.
But if you want a free bed
frame, you can come pick it up.
It shouldn't be free.
You should charge at least--
how much is it worth?
Oh my god.
It's such not that
expensive of a bed frame.
How much is it worth?
It's like $180 or something.
So the price is $50.
Yeah, OK, fine.
$50.
There you go.
Yeah, I'll take a
Starbucks gift card.
Anyway, that was it.
And every time-- it's
still in my hallway.
And on the occasions
that I get upset at Mark,
he just gestures
towards the bed frame.
And he's like, really?
Really, are we complaining
about something that I did?
Yeah, that was not a
good move on my part.
OK.
Let's do one rapid
fire, two rapid fires.
All right.
What is your definition
of happiness?
I would say it's freedom.
I would just say to
have that freedom.
To me, it means happiness.
Happiness to me is spending
time with the people
I love, like Mr. Rogers.
Call it the freedom
to spend the time--
The freedom to spend time
with the people I love.
It's the freedom that
comes is everything.
What is one specific major
goal that you each plan
on accomplishing this year?
OK.
Mine is to set up a
reef aquarium this year.
This is my goal.
Cool, the aquarium.
It's going to come soon, I
think another few months away.
What is my goal?
God, what is my
goal for this year?
I don't really have any.
You know what?
You know what my goal is?
To truly take the summer
off of making videos.
Whoa.
But the algorithm though.
I know.
The algorithm is not
going to like that.
So don't worry guys.
We're going to have
content for you all year.
But we're getting way
ahead of schedule.
We have a few more
things planned
for the channel that will
just free me up personally
to spend two months,
July and August,
without filming any videos,
which would be the first time
that I've ever gone
more than a week
without filming a
video in four years.
So that is my number one goal.
It will take a
while to get there,
especially because
one of my colleagues
is going on maternity
leave at that time.
But I'm going to use that
as further motivation
to sync up that timeline,
get way ahead of schedule,
and take July and
August off the camera.
So you're still going to have
content posted, but it's just
for two months
you're not going--
Yeah.
I got it.
OK.
I'm either going to
film ahead of time,
or we have other people who
make guest content for us.
But we will have
content for you.
Do not worry.
It's just, I don't want to
be physically filming videos
for that two-month period.
Fair.
That's a goal.
Cool.
Yeah.
Well thank you so much,
Graham, for being here.
Thank you.
I really appreciate it.
A pleasure and a joy.
Where can people go
to find more of you?
youtube.com/c/grahamstephan.
The C?
Yeah.
It's youtube.com/c.
It's a good channel.
Or you just search
Graham Stephan.
Yeah.
Down below the description.
Or Google Tesla stock, and
I'm sure his video will
appear high up.
I wonder if it ranks?
It could be ranking right now.
All right.
Well thank you, guys,
for tuning in, as always.
And we will see you next Monday.
Now Graham loves to buy houses.
That's no secret.
But I bet you that when
he goes to buy a house,
he has a very clear picture of
his full financial situation.
And if you are someone
who has been wanting
to learn a lot more
details and nuance
about where you
stand financially,
you should check out Turbo.
Turbo is a totally free app
that basically gives you
a bird's eye view of all
the various indicators
of your financial health, things
like your credit worthiness,
your net worth, your
debt-to-income ratio,
your credit utilization ratio,
your credit score, and all
of the information
to get you to a place
where you are super
financially healthy
and are going to be approved
for things like, for example,
a great mortgage, a great loan.
You want to go into these big
decisions, possible meetings
with lenders and banks,
knowing everything you can
and getting your finances to
the best place they can be,
so that you are a good candidate
for something like a loan.
And so you'll want the tool
that will give you that picture
and give you the
understanding you
need to improve all
of those indicators,
and put your money
in the right place
before you go make
those decisions.
I highly recommend
you check out Turbo
at the link in our
description or the show notes.
And remember, it
is totally free.
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