[0:00] Shannon Warwick: You know, I am thinking back to, I'm thinking back to our lived experience, Ryan, is actually what I'm doing.
[0:07] Shannon Warwick: We didn't stop with the discipline, but gosh, I remember we clamped down in other areas, didn't we?
[0:17] Ryan Warwick: Yes.
[0:17] Shannon Warwick: We did.
[0:19] Shannon Warwick: We did.
[0:22] Ryan Warwick: Because,
[0:24] Ryan Warwick: yeah, because the reality is income was significantly impacted, and you have to make choices, but we kept investing.
[0:30] Shannon Warwick: We kept investing.
[0:31] Ryan Warwick: Because it's the right thing to do.
[0:33] Shannon Warwick: Mm-hmm.
[0:33] Ryan Warwick: So.
[0:35] Ryan Warwick: They get green.
[0:37] Shannon Warwick: They get green.
[0:37] Ryan Warwick: They, they invested
[0:40] Ryan Warwick: a third of the money, less than a third of the money.
[0:43] Shannon Warwick: Uh-huh.
[0:45] Ryan Warwick: And at age 65, when this person has 271-
[0:50] Shannon Warwick: Uh-huh
[0:50] Ryan Warwick: ... this person has 447,864.
[0:55] Shannon Warwick: It's so crazy.
[0:57] Ryan Warwick: I don't know
[1:00] Ryan Warwick: how to give a more powerful message to a 20-year-old.
[1:03] Shannon Warwick: Ah.
[1:04] Ryan Warwick: Because regardless of what the dollar is, if you only have $50 to invest-
[1:09] Shannon Warwick: Do it
[1:09] Ryan Warwick: ... then invest your $50.
[1:10] Shannon Warwick: Invest your 50.
[1:10] Ryan Warwick: If you, you have 10,000 to invest, invest your 10,000.
[1:13] Shannon Warwick: Yep. I just said it, you know, it just gives you permission to relax and to breathe, letting, just letting your money work for you instead of working for your money, letting the money serve you instead of serving your money.
[1:26] Ryan Warwick: Welcome to the Worth Beyond Wealth podcast.
[1:28] Shannon Warwick: Where net worth meets personal worth. I'm Shannon.
[1:31] Ryan Warwick: I'm Ryan. We help families navigate the emotional, relational, and personal realities that money alone can't solve.
[1:38] Shannon Warwick: If you've built wealth but still wonder what it all means, or how to keep your family grounded while protecting your legacy, you're in the right place.
[1:46] Ryan Warwick: We sit down with experts and with you to talk identity, purpose, and connection beyond the balance sheet.
[1:53] Shannon Warwick: Because true wealth isn't measured in dollars. It's measured in the impact we make and the relationships we nurture.
[1:59] Ryan Warwick: So grab a seat.
[2:00] Shannon Warwick: Take a breath.
[2:01] Ryan Warwick: And let's redefine what it means-
[2:03] Shannon Warwick: To be truly wealthy together.
[2:05] Ryan Warwick: This is the Worth-
[2:07] Shannon Warwick: Worth Beyond Wealth podcast
[2:08] Ryan Warwick: ... Beyond Wealth podcast. All success in investing, uh, to be successful investors, we just need to be in the markets.
[2:16] Shannon Warwick: Right.
[2:16] Ryan Warwick: Right?
[2:17] Shannon Warwick: It, can we... That, that was great. It, but can we pop back to the question of can DCA be restrictive if you're comfortable with taking more risk?
[2:28] Ryan Warwick: If,
[2:30] Ryan Warwick: if you're comfortable with taking more risk-
[2:33] Shannon Warwick: Mm-hmm
[2:35] Ryan Warwick: ... so if I'm having this kind of a conversation,
[2:39] Ryan Warwick: then, um,
[2:42] Ryan Warwick: yeah, well, I mean, we would just choose not to do it. Because yeah, that would be, um,
[2:49] Ryan Warwick: all things being equal, markets go up over time.
[2:52] Shannon Warwick: Mm-hmm.
[2:52] Ryan Warwick: We're going to have better returns if we put the money to work.
[2:55] Shannon Warwick: Mm-hmm.
[2:56] Ryan Warwick: And so back here in some of these time periods-
[3:00] Shannon Warwick: Mm
[3:00] Ryan Warwick: ... there were some moments, we had, had some other situations I can think of where, where we were able to put money to work very quickly.
[3:06] Shannon Warwick: Okay.
[3:07] Ryan Warwick: Um, we didn't do the, the standard, um, you know, averaging in. Um, you know, and there's always lots of, of factors that we talk clients through to come up with the, the right strategy, so what I'm describing is, is general.
[3:22] Shannon Warwick: Mm-hmm.
[3:23] Ryan Warwick: Um, but, y- you know, here's, here's something.
[3:27] Ryan Warwick: Um, the question often,
[3:31] Ryan Warwick: uh, will come up,
[3:35] Ryan Warwick: y- you know, and, and again, it's, it's usually related
[3:38] Ryan Warwick: or informed by recent market history. It, it, very, that's very natural and normal for people to be-
[3:46] Shannon Warwick: Mm
[3:46] Ryan Warwick: ... informed and influenced by what has happened in the world recently.
[3:50] Shannon Warwick: Absolutely.
[3:53] Ryan Warwick: And so one of those questions,
[3:56] Ryan Warwick: again, very normal, would be, "Hey, the market's at a new high."
[4:01] Shannon Warwick: Mm-hmm.
[4:01] Ryan Warwick: "Should we wait?"
[4:05] Shannon Warwick: Right.
[4:05] Ryan Warwick: I think it's a, actually a, a really good, normal, rational question.
[4:14] Ryan Warwick: The data says that when the market is at a new all-time high,
[4:21] Ryan Warwick: it's higher about 80% of the time.
[4:26] Shannon Warwick: Hmm.
[4:26] Ryan Warwick: Okay, so think about that.
[4:30] Ryan Warwick: We, we said earlier that, that calendar years, markets are, are up 75% of the time. But when markets are at new all-time highs-
[4:39] Shannon Warwick: Mm-hmm
[4:39] Ryan Warwick: ... wait 12 months later, they're up 80% of the time from an all-time high.
[4:45] Shannon Warwick: Hmm.
[4:45] Ryan Warwick: So there's no statistically significant difference between investing at an all-time, all-time high.
[4:53] Ryan Warwick: Or here's another one. How about, um, when, uh, let me just see here.
[5:04] Ryan Warwick: Well, I'll say this slightly differently. Um,
[5:08] Ryan Warwick: so they're up 80% of the time,
[5:11] Ryan Warwick: and the average that they're up is about 13.7%. Okay.
[5:17] Shannon Warwick: Do you want to write this on the board?
[5:19] Ryan Warwick: Yeah, we can write that on the board. So-
[5:21] Shannon Warwick: Okay
[5:21] Ryan Warwick: ... when we have market highs,
[5:25] Ryan Warwick: so like right here, right, random market high, we are higher-
[5:32] Shannon Warwick: I am-
[5:33] Ryan Warwick: ... 80% of the time
[5:34] Shannon Warwick: ... truly impressed with your handwriting right now.
[5:36] Ryan Warwick: Thanks.
[5:37] Shannon Warwick: Okay.
[5:37] Ryan Warwick: I'm trying.
[5:38] Shannon Warwick: Okay.
[5:38] Ryan Warwick: And the average return,
[5:42] Ryan Warwick: uh, 12 months, I'm gonna say 12 months later.
[5:44] Shannon Warwick: Okay.
[5:45] Ryan Warwick: And
[5:48] Ryan Warwick: 12 months later, on average, the return
[5:54] Ryan Warwick: had been
[5:56] Ryan Warwick: 13.7%.
[5:59] Ryan Warwick: I mean, I, I think that is surprising when, when people see that That will be kind of surprising. Oh my gosh, so when the market is at an all-time high,
[6:11] Ryan Warwick: I shouldn't just assume it's gonna go lower immediately because it's at an all-time... Like, that's kind of an intuitive thing.
[6:19] Shannon Warwick: Mm-hmm.
[6:19] Ryan Warwick: I would think, you know, what has to go up what goes up has to come down, right?
[6:22] Shannon Warwick: Mm-hmm.
[6:22] Ryan Warwick: There's this-
[6:23] Shannon Warwick: Mm-hmm
[6:23] Ryan Warwick: ... you know. But markets don't behave that way.
[6:25] Shannon Warwick: Right.
[6:27] Ryan Warwick: Here's what's interesting.
[6:29] Ryan Warwick: After, and I'm not gonna write all this on the board, after declines of 10% or more-
[6:36] Shannon Warwick: Mm-hmm
[6:38] Ryan Warwick: ... the market is still higher 12 months later, a m- vast majority of the time, but it's only higher
[6:48] Ryan Warwick: 11.7%, by 11.7%. So fundamentally, you're better off investing when it's at an all-time high than after a market drop.
[6:58] Shannon Warwick: It j-
[6:58] Ryan Warwick: So-
[6:58] Shannon Warwick: ... it just goes against
[7:00] Ryan Warwick: Like, I don't want to-
[7:01] Shannon Warwick: It goes against the grain. It d- right?
[7:02] Ryan Warwick: Yeah, that's right. And, and so the point I'm making isn't that, okay, don't invest after 10- No, not at all. It's that we can't time the markets.
[7:11] Shannon Warwick: We can't time the markets.
[7:12] Ryan Warwick: Yeah.
[7:13] Shannon Warwick: Mm-mm. No.
[7:13] Ryan Warwick: Like, that, that's the only point to be had here. And so-
[7:16] Shannon Warwick: I, I think there's something, y- I think it's, these are difficult conversations. Um, you know, there's, there, you're uncomfortable. But at the same time, I think there's some freedom that comes with the conversation because it's, it, it just is relieving to hear-
[7:34] Ryan Warwick: Yeah
[7:34] Shannon Warwick: ... you just can't, so don't worry about it.
[7:37] Ryan Warwick: Yeah.
[7:38] Shannon Warwick: Go ahead and invest your money.
[7:40] Ryan Warwick: Yeah.
[7:40] Shannon Warwick: And just, just relax.
[7:43] Ryan Warwick: Yeah.
[7:43] Shannon Warwick: Let it go.
[7:44] Ryan Warwick: Yep.
[7:45] Shannon Warwick: There's something very comforting-
[7:47] Ryan Warwick: Yeah
[7:47] Shannon Warwick: ... and freeing with this conversation, I think.
[7:49] Ryan Warwick: Yeah. Yep.
[7:51] Shannon Warwick: Um,
[7:53] Shannon Warwick: so then-
[7:54] Ryan Warwick: Th- I have another dollar cost averaging example.
[7:56] Shannon Warwick: Okay.
[7:56] Ryan Warwick: Um,
[7:58] Ryan Warwick: this one's, uh, kind of interesting. It was, uh, somebody who I was talking to, and back here in this, in this time period-
[8:07] Shannon Warwick: Mm-hmm, in the valley of the shadow of death?
[8:10] Ryan Warwick: In what really f- fundamentally is if you were, if you were putting money in-
[8:17] Shannon Warwick: Mm-hmm
[8:17] Ryan Warwick: ... right? In, so now we're, I... The conversation I had was around a person's 401 where-
[8:23] Shannon Warwick: Mm
[8:23] Ryan Warwick: ... money was going in every month.
[8:24] Shannon Warwick: Mm-hmm.
[8:25] Ryan Warwick: Right?
[8:25] Shannon Warwick: Mm-hmm.
[8:26] Ryan Warwick: So that actually, I've told people over the years,
[8:34] Ryan Warwick: that you should want, as you're in your earning years and you're saving into your 401 s-
[8:41] Shannon Warwick: Mm-hmm
[8:41] Ryan Warwick: ... you should hope that the market is in this long decimating slide-... because every month you're buying cheaper and cheaper shares.
[8:51] Shannon Warwick: Oh.
[8:51] Ryan Warwick: That would be the ideal scenario for you.
[8:53] Shannon Warwick: Do you, do you say this-
[8:54] Ryan Warwick: Oh, yeah
[8:55] Shannon Warwick: ... to, to newlyweds and new homeowners and people who are just, uh, walking into parenthood-
[9:01] Ryan Warwick: I mean, it, it-
[9:02] Shannon Warwick: ... new jobs
[9:02] Ryan Warwick: ... it's just, it's just truth
[9:04] Shannon Warwick: I, uh
[9:05] Ryan Warwick: It's, so if we could, if we could map out this perfect scenario-
[9:09] Shannon Warwick: Mm-hmm
[9:09] Ryan Warwick: ... it would be the market is dropping over your earning and saving years-
[9:14] Shannon Warwick: Yeah
[9:14] Ryan Warwick: ... and then it spikes back up when you retire.
[9:16] Shannon Warwick: Yes.
[9:17] Ryan Warwick: Okay?
[9:17] Shannon Warwick: Yeah.
[9:18] Ryan Warwick: Because we get to buy cheaper and cheaper shares.
[9:20] Shannon Warwick: Right. Right.
[9:21] Ryan Warwick: Now, that's, so we all kind of get that. You're averaging in, but here's where emotions-
[9:28] Shannon Warwick: Mm-hmm
[9:28] Ryan Warwick: ... and behavior take a toll. Because of the headlines, because of what we were experiencing-
[9:35] Shannon Warwick: Mm-hmm
[9:35] Ryan Warwick: ... many people, including the one I was having that conversation with-
[9:39] Shannon Warwick: Mm
[9:41] Ryan Warwick: ... stopped investing those contributions.
[9:44] Shannon Warwick: Right.
[9:44] Ryan Warwick: Not, it's not like they-
[9:46] Shannon Warwick: Yes
[9:46] Ryan Warwick: ... we're talking about having to what are we doing with, you know, a big lump sum.
[9:50] Shannon Warwick: No.
[9:50] Ryan Warwick: They stopped the monthly contribution-
[9:53] Shannon Warwick: They stopped the discipline
[9:53] Ryan Warwick: ... from buying the cheaper and cheaper.
[9:54] Shannon Warwick: They stopped the discipline. Yeah.
[9:55] Ryan Warwick: And guess when they started it again?
[9:57] Shannon Warwick: Yeah. Yep.
[9:58] Ryan Warwick: You know?
[9:58] Shannon Warwick: That's really painful.
[9:59] Ryan Warwick: Only, only made it back in here.
[10:01] Shannon Warwick: Right.
[10:02] Ryan Warwick: And so you miss out on some tremendous opportunity to build up-
[10:07] Shannon Warwick: Mm-hmm
[10:07] Ryan Warwick: ... cheap, you know, lots and lots of shares.
[10:09] Shannon Warwick: So let's-
[10:10] Ryan Warwick: Yeah
[10:10] Shannon Warwick: ... talk to, let's, you know what? Let's talk to the new person, the, the young person, the person who's just starting out.
[10:17] Ryan Warwick: Yeah.
[10:17] Shannon Warwick: Let's take just a second to talk to that person.
[10:19] Ryan Warwick: Okay.
[10:21] Shannon Warwick: Uh, how could we encourage them to just keep going, keep the discipline, keep the contribution, keep marching in cadence? I know you're uncomfortable.
[10:32] Shannon Warwick: Let's talk to them and maybe encourage them for just a second. What are some things that they could do maybe to be able to keep contributing? Don't stop.
[10:41] Shannon Warwick: Even if it's tight,
[10:43] Shannon Warwick: what could we, what could we do?
[10:45] Ryan Warwick: That is a great question.
[10:51] Shannon Warwick: I know.
[10:51] Ryan Warwick: But it wasn't on your-
[10:52] Shannon Warwick: You pulled out the-
[10:52] Ryan Warwick: But it-
[10:52] Shannon Warwick: It's not on my list.
[10:53] Ryan Warwick: But it wasn't on your list.
[10:54] Shannon Warwick: I know.
[10:54] Ryan Warwick: But it, it's-
[10:56] Shannon Warwick: But you pulled out the calculator-
[10:57] Ryan Warwick: So-
[10:57] Shannon Warwick: But it's such a good question
[10:58] Ryan Warwick: ... so exciting.
[10:59] Shannon Warwick: It is so exciting.
[11:00] Ryan Warwick: Okay. We've, um... And you've seen this before, but again, it wasn't-
[11:03] Shannon Warwick: Ca- can I just talk-
[11:04] Ryan Warwick: It wasn't on our list for today
[11:05] Shannon Warwick: ... No, it's not. But, you know, I am thinking back to, I'm thinking back to our lived experience, Ryan, is actually what I'm doing.
[11:13] Shannon Warwick: We didn't stop with the discipline, but gosh, I remember we clamped down in other areas, didn't we?
[11:23] Ryan Warwick: Yes.
[11:24] Shannon Warwick: We did.
[11:25] Shannon Warwick: We did.
[11:28] Ryan Warwick: Because
[11:31] Ryan Warwick: yeah, because the reality is income was significantly impacted, and you have to make choices, but we kept investing.
[11:36] Shannon Warwick: We kept investing.
[11:38] Ryan Warwick: Because it's the right thing to do.
[11:40] Shannon Warwick: Mm-hmm.
[11:40] Ryan Warwick: So.
[11:41] Shannon Warwick: Yeah.
[11:41] Ryan Warwick: Um-
[11:42] Shannon Warwick: All right. Let's just give a little encouragement, and then we'll get back to the list.
[11:44] Ryan Warwick: Okay. Yeah, so
[11:47] Ryan Warwick: this is, um,
[11:49] Ryan Warwick: both one of my favorite illustrations for something we might talk about today, we might, might not get to, uh, compounding and compound interest-
[11:59] Shannon Warwick: Yeah, we might
[11:59] Ryan Warwick: ... which is, like, boy, we could have multiple episodes on compounding, so we, we probably will just touch on it today-
[12:08] Shannon Warwick: Okay
[12:08] Ryan Warwick: ... uh, in conversation.
[12:11] Ryan Warwick: Um, also known as the eighth wonder of the world.
[12:15] Shannon Warwick: Well, it's actually my next topic.
[12:16] Ryan Warwick: Yeah.
[12:16] Shannon Warwick: Do you think we could integrate the, the two?
[12:19] Ryan Warwick: I just don't know that we can give it the right, um-
[12:22] Shannon Warwick: Attention?
[12:23] Ryan Warwick: Yeah.
[12:23] Shannon Warwick: Okay.
[12:23] Ryan Warwick: Because it, it's a huge topic. It's... and it's very important. But we're talking to the 20-year-old.
[12:28] Shannon Warwick: Yeah.
[12:29] Ryan Warwick: So what we're, what we're saying here, I'm gonna say it and then I'll write it,
[12:34] Ryan Warwick: is
[12:36] Ryan Warwick: you have an opportunity as a 20-year-old here to invest $1,000 per year. Okay, we're just doing that. We're going to have a growth rate on that, uh, $1,000 per year.
[12:51] Shannon Warwick: Mm-hmm.
[12:52] Ryan Warwick: And then for some reason, 20-year-old that we're talking to on, on the podcast-
[12:59] Shannon Warwick: Well, okay. So maybe you-
[12:59] Ryan Warwick: Something happens in your life where-
[13:01] Shannon Warwick: ... you're a parent or a grandparent, and you want to encourage your 20-year-old.
[13:03] Ryan Warwick: Sure.
[13:04] Shannon Warwick: Okay.
[13:04] Ryan Warwick: But something happens where
[13:07] Ryan Warwick: y- your ability to save has been impacted-
[13:10] Shannon Warwick: Yeah
[13:10] Ryan Warwick: ... and you have to stop.
[13:11] Shannon Warwick: Been diminished. Okay.
[13:12] Ryan Warwick: So you get to save $1,000 a year for 10 years, okay?
[13:16] Shannon Warwick: Mm-hmm.
[13:16] Ryan Warwick: So
[13:18] Ryan Warwick: two, three, all the way down. We do that 10 times.
[13:25] Shannon Warwick: Mm-hmm.
[13:26] Ryan Warwick: So we've invested
[13:29] Ryan Warwick: $10,000.
[13:31] Ryan Warwick: And we'll say, um,
[13:35] Ryan Warwick: that it's going to grow at 10%.
[13:39] Shannon Warwick: Okay.
[13:39] Ryan Warwick: Okay. So,
[13:41] Ryan Warwick: and it's worth, so $1,000,
[13:48] Ryan Warwick: think I can do this fast. It's worth $15,937.42, right? So we'll just say it's worth 15,937.
[14:02] Ryan Warwick: Okay. So
[14:06] Ryan Warwick: person out there who's listening, you're, you're 20 years old, you're 22, it doesn't matter,
[14:13] Ryan Warwick: when is the right time to invest? Now, right? Um-
[14:17] Shannon Warwick: Yeah
[14:17] Ryan Warwick: ... when is the next best time to invest? Tomorrow, right? As early as you can-
[14:23] Shannon Warwick: As early as possible
[14:23] Ryan Warwick: ... as often as you can.
[14:25] Shannon Warwick: Yeah.
[14:25] Ryan Warwick: Because then you allow compounding to work. Okay, so at the end of 10, 10 years, we're, we have $15,937.
[14:36] Ryan Warwick: We are going to compare this against a person who starts now at age 30. Okay. We're investing the same,
[14:51] Ryan Warwick: so we invested at 20 all the way through 29, right? So this person starts investing at 30, this person stops-
[15:00] Shannon Warwick: And I can see this, um-
[15:01] Ryan Warwick: ... at null
[15:01] Shannon Warwick: ... for maybe someone who's out of grad school, something like that.
[15:06] Ryan Warwick: All sorts of reasons.
[15:07] Shannon Warwick: Yeah.
[15:08] Ryan Warwick: I was a bachelor in my 20s, and now I got married and, and-
[15:11] Shannon Warwick: Yeah
[15:12] Ryan Warwick: ... you know, lots of things come up.
[15:14] Shannon Warwick: Sure.
[15:14] Ryan Warwick: Um, I could invest, but now I bought a h- like, all sorts of these.
[15:18] Shannon Warwick: Right.
[15:20] Ryan Warwick: So in this, in this case, we're going to invest one year all the way, we're going to do this all the way to retirement. So they, they didn't do it from 20 to 29. They started at 30, and we're doing this for
[15:42] Ryan Warwick: 35 years.
[15:43] Shannon Warwick: Okay.
[15:44] Ryan Warwick: Okay. So we've got, uh, now people, and this person kept this invested.
[15:51] Shannon Warwick: Okay.
[15:52] Ryan Warwick: Okay? So that's s- that's something else. And then invested
[16:00] Ryan Warwick: 65.
[16:00] Shannon Warwick: Okay.
[16:01] Ryan Warwick: Okay. And we'll come back to that one more. At
[16:06] Ryan Warwick: same invested. Every- everything's the same between them-
[16:09] Shannon Warwick: Yep
[16:10] Ryan Warwick: ... and, and, and they're getting 10% per year. Okay, so this person invested
[16:19] Ryan Warwick: $35,000, so three and a half times more than the first person,
[16:27] Ryan Warwick: and at age 65
[16:31] Ryan Warwick: it is worth-
[16:35] Shannon Warwick: This is always really fun.
[16:36] Ryan Warwick: Yep, it's worth $271,000.
[16:40] Shannon Warwick: Mm-hmm.
[16:43] Ryan Warwick: In 20, uh, $271,020.
[16:46] Shannon Warwick: Okay.
[16:47] Ryan Warwick: Okay.
[16:49] Ryan Warwick: This person over here,
[16:52] Ryan Warwick: you remember, um,
[16:56] Ryan Warwick: had at age 30, 15,937. That's now they're starting. We're not, they're not adding another dollar to that.
[17:04] Shannon Warwick: Nope, they stopped. Yep.
[17:05] Ryan Warwick: They're still getting their 10%. They do that for 35 years.
[17:10] Ryan Warwick: How much do they have?
[17:11] Shannon Warwick: Tell us.
[17:14] Ryan Warwick: This person,
[17:16] Ryan Warwick: they get green.
[17:18] Shannon Warwick: They get green.
[17:19] Ryan Warwick: They, they invested
[17:22] Ryan Warwick: a third of the money, less than a third of the money.
[17:25] Shannon Warwick: Uh-huh.
[17:26] Ryan Warwick: And at age 65, when this person has 271-
[17:31] Shannon Warwick: Uh-huh
[17:31] Ryan Warwick: ... this person has 447,864.
[17:37] Shannon Warwick: It's so crazy.
[17:39] Ryan Warwick: Yeah.
[17:41] Ryan Warwick: So
[17:45] Ryan Warwick: I don't know
[17:47] Ryan Warwick: how to give a more powerful message to a 20-year-old.
[17:51] Shannon Warwick: Uh.
[17:51] Ryan Warwick: Because regardless of what the dollar is, if you only have $50 to invest-
[17:56] Shannon Warwick: Do it
[17:56] Ryan Warwick: ... then invest your $50.
[17:57] Shannon Warwick: Invest your 50.
[17:58] Ryan Warwick: If you, if you have 10,000 to invest, invest your 10,000.
[18:00] Shannon Warwick: Yep.
[18:02] Shannon Warwick: Yeah.
[18:02] Ryan Warwick: And, and you can see the power of doing that earlier than later.
[18:07] Shannon Warwick: Absolutely.
[18:09] Ryan Warwick: Also, you know, with that, we don't wanna say- This person has missed out and is, you know, all hope is lost.
[18:17] Shannon Warwick: No, no.
[18:18] Ryan Warwick: That's still a good sum of money-
[18:19] Shannon Warwick: Sure
[18:19] Ryan Warwick: ... because the earliest they could have done it, they were in med school during their 20s, right?
[18:25] Shannon Warwick: Yeah, exactly. Exactly.
[18:26] Ryan Warwick: So y- you, you, you do what you can. But if, all things being equal, if we have the choice to do it now or wait, you do it now because
[18:36] Ryan Warwick: that's 50% more.
[18:39] Shannon Warwick: Mm-hmm.
[18:40] Ryan Warwick: And, and why is that? It's because compounding-
[18:44] Shannon Warwick: Mm
[18:44] Ryan Warwick: ... is such an incredible, um,
[18:51] Ryan Warwick: what's the word? Um-
[18:52] Shannon Warwick: Force
[18:53] Ryan Warwick: ... force. Um-
[18:54] Shannon Warwick: I don't know. Eighth wonder of the world
[18:55] Ryan Warwick: I mean yeah.
[18:56] Shannon Warwick: Yeah.
[18:56] Ryan Warwick: I, I mean, it, it's, it's a comp- It's a, it's an amazing truth. How about that?
[19:01] Shannon Warwick: It's an amazing truth.
[19:01] Ryan Warwick: Um-
[19:02] Shannon Warwick: Tool
[19:02] Ryan Warwick: ... so this is, but this is dollar cost averaging.
[19:06] Shannon Warwick: Exactly.
[19:07] Ryan Warwick: Okay? We didn't put $10,000 in on day one.
[19:12] Ryan Warwick: What if we did?
[19:14] Shannon Warwick: Right.
[19:14] Ryan Warwick: L- You know what? We're live. I've never, I've never actually in this scenario run that, but
[19:24] Ryan Warwick: we could tell the person, "Look, if you actually had $10,000, should you do it all today or over 10 years?"
[19:29] Shannon Warwick: Mm-hmm.
[19:30] Ryan Warwick: And the answer would be interesting. So we'd put $10,000 in, um, right now-
[19:36] Shannon Warwick: So are you giving a live demonstration of my question on-
[19:39] Ryan Warwick: Yeah
[19:39] Shannon Warwick: ... the dollar cost averaging and compounding? Okay.
[19:41] Ryan Warwick: And, and now it's invested, 10,000 is invested for 45 years.
[19:48] Ryan Warwick: And guess how much that is.
[19:51] Shannon Warwick: How much?
[19:52] Ryan Warwick: $729,000.
[19:54] Shannon Warwick: Goodness.
[19:54] Ryan Warwick: Right, so there's the power of lump sum versus dollar cost average-
[19:59] Shannon Warwick: Okay
[19:59] Ryan Warwick: ... now versus dollar cost average later. So
[20:04] Ryan Warwick: th- that's a, a, hopefully a really informative, eye-opening for some-
[20:10] Shannon Warwick: I agree
[20:10] Ryan Warwick: ... uh, example.
[20:11] Shannon Warwick: I think it's really powerful.
[20:12] Ryan Warwick: Yeah.
[20:12] Shannon Warwick: Um, so then
[20:14] Shannon Warwick: in closing, any argument- Click it. Okay. So are there any arguments or downsides to utilizing dollar cost averaging?
[20:26] Ryan Warwick: I mean, I think we've touched on those.
[20:28] Shannon Warwick: I, I do too-
[20:29] Ryan Warwick: Um-
[20:29] Shannon Warwick: ... because-
[20:29] Ryan Warwick: It's, it's just the idea that, again, all, when we're, when we're talking about markets-
[20:35] Shannon Warwick: If I have a high
[20:35] Ryan Warwick: ... it would be remiss if we didn't always talk about as on average-
[20:38] Shannon Warwick: On average
[20:38] Ryan Warwick: ... because-
[20:39] Shannon Warwick: Okay
[20:39] Ryan Warwick: ... we can't time markets.
[20:42] Shannon Warwick: No.
[20:42] Ryan Warwick: So on average, if markets are higher, markets are higher after declines.
[20:47] Shannon Warwick: Mm.
[20:47] Ryan Warwick: Markets are higher when we're starting from all-time highs.
[20:50] Shannon Warwick: Mm-hmm.
[20:51] Ryan Warwick: Then put your money to work.
[20:53] Shannon Warwick: Well, I was gonna say-
[20:54] Ryan Warwick: Like on average
[20:54] Shannon Warwick: ... I mean, if you're, if you're the, if you're the, the kid who just says, "Dad, catch me," and you jump into the pool, for you, eh, dollar cost averaging,
[21:04] Shannon Warwick: that's, that's not something that you need. So that could be an argument for you. Yeah, you're just, you're all in.
[21:09] Ryan Warwick: Yeah.
[21:10] Shannon Warwick: Yeah.
[21:11] Ryan Warwick: Um,
[21:14] Ryan Warwick: I'm just looking through my notes to s- uh-
[21:17] Shannon Warwick: I-
[21:18] Ryan Warwick: You know, dollar cost averaging,
[21:22] Ryan Warwick: m- I think what we haven't, like, maybe definitively stated-
[21:26] Shannon Warwick: Mm-hmm
[21:26] Ryan Warwick: ...
[21:28] Ryan Warwick: is dollar cost averaging, if we go back to this
[21:32] Ryan Warwick: scenario of the market falling over the course of a few years here, um,
[21:40] Ryan Warwick: is
[21:43] Ryan Warwick: dollar cost averaging is better if the market's going down.
[21:46] Shannon Warwick: Mm-hmm.
[21:48] Ryan Warwick: Th- n- we're just stating mathematical facts. If every contribution I make is buying more shares over time-
[21:56] Shannon Warwick: Right
[21:57] Ryan Warwick: ... that's better than if I had put my money all in at once.
[21:59] Shannon Warwick: But we can't time markets.
[22:01] Ryan Warwick: M- and the fact is that markets are higher-
[22:05] Shannon Warwick: Yeah
[22:07] Ryan Warwick: ... a lar- a vast majority of the time. So we're going against the odds when we, when we average. Again, the only benefit is emotional, uh, is creating emotional discipline or letting us get used to the water.
[22:22] Shannon Warwick: Yeah. Yeah.
[22:23] Ryan Warwick: And boy, um-
[22:25] Shannon Warwick: Well, I think it is that
[22:25] Ryan Warwick: ... cold water is not fun to jump into, is it?
[22:27] Shannon Warwick: Nope. You're crazy.
[22:28] Ryan Warwick: Well-
[22:29] Shannon Warwick: You cold plunge, and I have said this, you're, "Oh, it's so wonderful for your health." I would rather die five years earlier than sit in that cold bathtub.
[22:37] Ryan Warwick: And the interesting thing is you can't dip your toe and get in a cold plunge. You gotta just go.
[22:41] Shannon Warwick: You gotta go.
[22:41] Ryan Warwick: 'Cause if you start dipping your toe in, you'll never do it.
[22:43] Shannon Warwick: You'll never-
[22:44] Ryan Warwick: So there is that-
[22:44] Shannon Warwick: Horrible
[22:45] Ryan Warwick: ... I think that's a l- that's a risk-
[22:47] Shannon Warwick: Yeah
[22:47] Ryan Warwick: ... is, hey, um,
[22:50] Ryan Warwick: I, uh, I'm not gonna go if I dip my toe in. So, um-
[22:53] Shannon Warwick: That's interesting. Yeah. Um, you, you mentioned bear markets. Well, we've talked a lot about it actually, but, um, how do you keep investors utilizing the power of DCA during a bear market? How do you,
[23:05] Shannon Warwick: how do you help them with the emotions around that?
[23:09] Ryan Warwick: I mean, in a-
[23:09] Shannon Warwick: Or, or do you feel like that you've prepared them so they're-
[23:12] Ryan Warwick: I mean, in a, in a loose sense-
[23:14] Shannon Warwick: They're doing great. Uh-huh
[23:15] Ryan Warwick: ...
[23:16] Ryan Warwick: we never stop dollar cost averaging.
[23:20] Shannon Warwick: Mm.
[23:20] Ryan Warwick: Um,
[23:23] Ryan Warwick: and when I say loose, I mean from a, just if we're gonna, we could call some of the things we do, we're averaging in over time. We get, um,
[23:33] Ryan Warwick: dividends into portfolios, uh, every year,
[23:37] Ryan Warwick: and we, we take those dividends, that cashflow, assuming client doesn't need that for, for spending and pull it out, and we go and we, and we buy new securities with it.
[23:48] Shannon Warwick: Mm.
[23:48] Ryan Warwick: So every year we're, we're continuing to invest cashflow-
[23:53] Shannon Warwick: Mm-hmm
[23:53] Ryan Warwick: ... in accounts. Um, in another sense, very, very few of our clients are 100% stock.
[24:02] Shannon Warwick: Right.
[24:04] Ryan Warwick: So, you know, practically speaking,
[24:08] Ryan Warwick: we always have something
[24:11] Ryan Warwick: that's not exposed to stock market volatility.
[24:15] Shannon Warwick: Mm-hmm.
[24:16] Ryan Warwick: And
[24:18] Ryan Warwick: in a bear market-
[24:21] Ryan Warwick: The most common conversation we're having is,
[24:25] Ryan Warwick: one, should we rebalance?
[24:28] Shannon Warwick: Mm-hmm.
[24:29] Ryan Warwick: And, and what a rebalance means in, in that moment,
[24:34] Ryan Warwick: it- it's going to be
[24:38] Ryan Warwick: half in one thing, half in another. That's our target. And because
[24:44] Ryan Warwick: one side has gone down, even if the other side just stays flat, doesn't even have to go up, then by definition, that's no longer 50/50. It might be
[24:57] Ryan Warwick: 60/40, right? And so
[25:02] Ryan Warwick: in a loose sense, we get to keep averaging in in bear markets because now we're going to say, "Look, let's go trim this and go buy this."
[25:12] Shannon Warwick: Mm-hmm.
[25:12] Ryan Warwick: And so the way we design portfolio, and we said this in the, in the episode where we, we talked through years of safe money and went-
[25:19] Shannon Warwick: Yeah
[25:19] Ryan Warwick: ... through the-
[25:20] Shannon Warwick: Mm-hmm
[25:20] Ryan Warwick: ... long-term market history.
[25:23] Ryan Warwick: Um, but in, in this sense, we, we always have opportunity to be averaging in, but in, in this way, we're doing it
[25:34] Ryan Warwick: opportunistically. We get to take advantage of downside market volatility.
[25:40] Ryan Warwick: But we're already structured in such a way that if the market never drops, we have the appropriate amount of, of growth capital-
[25:47] Shannon Warwick: Mm-hmm
[25:48] Ryan Warwick: ... that is moving through time and growing. We're not sitting on the sidelines waiting for it. We're just gonna take o- we're gonna take quick advantage of that opportunity if we get it.
[25:57] Shannon Warwick: So-
[25:58] Ryan Warwick: Does that make sense?
[25:59] Shannon Warwick: Yes. So keeping in... So the question was, how do you keep investors utilizing the power of DCA during a bear market?
[26:07] Shannon Warwick: Is the answer, you don't have to help them keep-
[26:10] Ryan Warwick: Not really. Um-
[26:11] Shannon Warwick: ... going because they're excited. They've learned this. They've, they've, their mindset has shifted, and they're ready to go. They're looking for the big fail.
[26:18] Ryan Warwick: Yeah, so let, let me answer it slightly differently.
[26:21] Shannon Warwick: Okay.
[26:21] Ryan Warwick: Maybe there's a person... I see I've written all over my hand today, so. Um, there's a person who is, we are averaging in, and we started here, and then the market went into a bear market. That's where I described early on. We're gonna start putting-- How do we keep them going?
[26:38] Shannon Warwick: Yeah.
[26:38] Ryan Warwick: We're gonna put those next purchases to work-
[26:41] Shannon Warwick: Quicker
[26:41] Ryan Warwick: ... earlier.
[26:41] Shannon Warwick: Yeah.
[26:41] Ryan Warwick: More, more quickly.
[26:42] Shannon Warwick: Yeah, we're moving quick- we're moving quickly.
[26:43] Ryan Warwick: Um-
[26:43] Shannon Warwick: Mm-hmm. Anything else that you, uh, wanna touch on?
[26:48] Ryan Warwick: I think it, a- again, kind of ancillary to the dollar cost average conversation, but it just relates to the, the statement that, look,
[27:01] Ryan Warwick: we're okay.
[27:02] Shannon Warwick: Mm-hmm.
[27:04] Ryan Warwick: We're, we're generally better off, but we're also okay if we put money to work, and then,
[27:12] Ryan Warwick: you know, maybe
[27:14] Ryan Warwick: bad outcomes happen, like back here.
[27:18] Shannon Warwick: Right.
[27:20] Ryan Warwick: And
[27:23] Ryan Warwick: all the, you know, all the caveats that, hey, you have to be appropriately invested for your needs and goals, and then, um, it has-- you have to stay in the market and, and do all the, do all the right things, but-
[27:35] Shannon Warwick: Right
[27:35] Ryan Warwick: ...
[27:38] Ryan Warwick: when we, when, when I was preparing for this, I remembered this article, uh, that was written in, uh, 2017.
[27:47] Shannon Warwick: Mm-hmm.
[27:50] Ryan Warwick: And,
[27:52] Ryan Warwick: and I think, so I think the, uh,
[27:56] Ryan Warwick: I- I think the peak before the financial crisis was, um, October of 2007. So I'm gonna just
[28:04] Ryan Warwick: correct. Let me say that that peak was '07. Okay.
[28:09] Ryan Warwick: And, a- and we had people that started with us around that time.
[28:15] Shannon Warwick: It's just crazy.
[28:16] Ryan Warwick: Okay? I mean,
[28:18] Ryan Warwick: n- nobody
[28:20] Ryan Warwick: knew what was going to transpire.
[28:22] Shannon Warwick: Mm-hmm.
[28:24] Ryan Warwick: You, you could say, well, house prices are expensive, and this or that, but, um, could you have said we're gonna call into question, uh, the very state of capitalism? And, I mean, just the fascinating things that happened, um, nobody predicted. So, but imagine
[28:43] Ryan Warwick: if you did know that, that, that back here
[28:48] Ryan Warwick: you knew in October of '07 that we were about to embark on the worst market and the, and the worst recession since the Great Depression.
[28:59] Ryan Warwick: And he says, I, I like this. This is, um, a gentleman, uh, we have read for a long time. And, uh,
[29:07] Ryan Warwick: he says, "Imagine the best analyst
[29:10] Ryan Warwick: tells you that when, when those market peaked, that the financial authorities would allow a particular accounting, uh, rule to burn the banking system to the ground.
[29:21] Ryan Warwick: Um, many well-known financial firms will fail
[29:26] Ryan Warwick: or be taken over.
[29:28] Ryan Warwick: That unemployment was going to soar to 10%. The economy would experience the, experience the deepest recession since the 1930s."
[29:38] Ryan Warwick: He goes on to some other things, new taxes and, and some other things. But now, y- you have that information.
[29:44] Shannon Warwick: Mm-hmm.
[29:48] Ryan Warwick: You have one, you have one investment choice.
[29:51] Shannon Warwick: Okay.
[29:52] Ryan Warwick: You can invest in, he says here, you can invest in the S&P 500, a 10-year Treasury note, which is a, a bond guaranteed by the US government.
[30:04] Shannon Warwick: Mm-hmm.
[30:04] Ryan Warwick: Gold, oil, housing, or cash.
[30:07] Shannon Warwick: Mm.
[30:07] Ryan Warwick: But you can only let, can only invest in one thing, and you have to let it ride for 10 years.
[30:13] Shannon Warwick: Mm-hmm.
[30:14] Ryan Warwick: So fast-forward, 'cause now it's October '17, and he writes this article.
[30:21] Ryan Warwick: Over the last 10 years-
[30:23] Ryan Warwick: The S&P 500 generated a total return of 7.2% per year, essentially doubling the value in 10 years.
[30:34] Ryan Warwick: So from the peak before the worst recession and the worst market since the Great Depression
[30:43] Ryan Warwick: to here, not the bottom, the peak,
[30:46] Ryan Warwick: you doubled your money.
[30:48] Shannon Warwick: Yeah.
[30:48] Ryan Warwick: And, and I think the, the first point I wanna make is
[30:53] Ryan Warwick: that should give people confidence-
[30:56] Shannon Warwick: Mm
[30:56] Ryan Warwick: ... that I don't have to time the market to still get good returns. And yes, I may not enjoy the ride always-
[31:03] Shannon Warwick: Yeah
[31:03] Ryan Warwick: ... but we can't, we can't know.
[31:07] Shannon Warwick: Right.
[31:08] Ryan Warwick: And so y- many people, though, b- a priori or before that event would say, "Well, I might pick gold," or, "I might pick cash or real estate." Well, gold over that same time period did 5.7%. 10-year treasury note did 4.7.
[31:25] Shannon Warwick: Mm.
[31:26] Ryan Warwick: Uh, oil 4.3. Excuse me, down 4.3% per year.
[31:31] Shannon Warwick: Down.
[31:33] Ryan Warwick: Um, home prices went up 1% per year, national average of home prices.
[31:36] Shannon Warwick: Mm-hmm.
[31:37] Ryan Warwick: So stocks, and this is where-
[31:39] Shannon Warwick: It's amazing
[31:39] Ryan Warwick: ... just the power of the market is incredible.
[31:42] Shannon Warwick: Yeah.
[31:42] Ryan Warwick: Uh, now 7.2% in stocks
[31:46] Ryan Warwick: is not a great 10-year period,
[31:49] Ryan Warwick: but you still doubled your money.
[31:50] Shannon Warwick: Right. And I think, again, it kind of just goes back to what we said earlier. It, it's almost permission to breathe-
[31:56] Ryan Warwick: Yeah
[31:56] Shannon Warwick: ... and just to just relax.
[31:58] Ryan Warwick: Yeah.
[31:58] Shannon Warwick: Yeah. Um, so worth beyond wealth, uh-
[32:03] Ryan Warwick: Yeah, how does this, how does this all apply? How does-
[32:05] Shannon Warwick: How does this all apply?
[32:06] Ryan Warwick: I wanna hear from you.
[32:07] Shannon Warwick: Oh, really?
[32:08] Ryan Warwick: Yeah. How do you think that this conversation could encourage people or educate people on the topic of dollar cost averaging to, you know, even think beyond? How does it inform them beyond just how do I grow my wealth better?
[32:26] Shannon Warwick: Yeah, I, I, I look at it and
[32:29] Shannon Warwick: for me, you know, I've said it, I just said it, you know, it just gives you permission to relax and to breathe. I keep... I think that something that I'm thinking in my mind, and we've said it before, is letting, just letting your money work for you-
[32:40] Ryan Warwick: Yeah
[32:40] Shannon Warwick: ... instead of working for your money, letting the money serve you instead of serving your money. And then having
[32:48] Shannon Warwick: that beautiful reward. The other thing that's in my head is that pain with purpose.
[32:51] Ryan Warwick: Mm.
[32:51] Shannon Warwick: Um, you know, it, it might not be comfortable all the time. In fact, sometimes it may be painful, but we keep practicing those disciplines. And, um,
[33:04] Shannon Warwick: then as we watch, as we watch the reward, we're able to,
[33:10] Shannon Warwick: we're able to enjoy that, that, um,
[33:15] Shannon Warwick: the fruit, if you will, of the labor, of the discipline. So just,
[33:21] Shannon Warwick: just looking at what we can accomplish, um, if, if we were just to breathe, relax, ride those waves,
[33:31] Shannon Warwick: look at the power of compounding, and, and just go with it.
[33:36] Ryan Warwick: Yeah.
[33:37] Shannon Warwick: Um, you know, I know for myself, and I said earlier, you know, gosh, I think I would be really tempted t- to be so conservative. I would be tempted to, oh, wait. Oh, mm, maybe dip the toe. Maybe not dip the toe. Okay, at the most I can only-
[33:51] Ryan Warwick: Protect
[33:51] Shannon Warwick: Yes, yes
[33:51] Ryan Warwick: ... I know I want growth, but maybe I'll just invest a little bit-
[33:53] Shannon Warwick: But-
[33:54] Ryan Warwick: ... when it seems safe, right?
[33:55] Shannon Warwick: Yes, exactly. And so but when I look at all of this and I listen and I let it really soak in, I see the power of it. And so
[34:07] Shannon Warwick: I think, I think there's so much worth in the rest, in the joy, in the fruit. And then as we, you know, as I think ahead and I think, oh, when you retire,
[34:18] Shannon Warwick: what can you do with this exponential growth? What can you accomplish, you know?
[34:26] Ryan Warwick: Yeah. I mean, in, in enormous things. Um, but,
[34:32] Ryan Warwick: you know, uh-
[34:32] Shannon Warwick: But it, but it took a, but it took a shift in mindset.
[34:35] Ryan Warwick: Yeah. It takes-
[34:36] Shannon Warwick: And then it ta- and it took-
[34:36] Ryan Warwick: It, it takes a shift in mindset
[34:38] Shannon Warwick: ... and discipline. Yeah
[34:38] Ryan Warwick: ... and, and let me add to, you know, what I think about, you know, how does dollar cost averaging inform worth beyond wealth.
[34:49] Ryan Warwick: Any mechanism-
[34:51] Shannon Warwick: Mm
[34:51] Ryan Warwick: ... that allows us to invest
[34:55] Ryan Warwick: in such a way that we can move beyond emotion-
[34:59] Shannon Warwick: Yeah
[34:59] Ryan Warwick: ...
[35:01] Ryan Warwick: get invested and participate in the amazing engine that is global public markets, or anything for that matter,
[35:15] Ryan Warwick: it is something that I think impacts worth beyond wealth. Because we're all trying to gener-
[35:21] Shannon Warwick: That was really beautiful. Yeah
[35:22] Ryan Warwick: ... we're all trying to generate wealth.
[35:24] Shannon Warwick: Yeah.
[35:24] Ryan Warwick: Right? But now what we're saying with this podcast is, hey, there is a number, everybody. And I had a great conversation with somebody yesterday, um, who is, is kind of wrestling with this.
[35:36] Shannon Warwick: Mm.
[35:37] Ryan Warwick: I mean, the, the comment, uh, he made to me is, "Hey,
[35:42] Ryan Warwick: I've... If, if, if it's measured by having all the toys, I've won." "I've got all the toys."
[35:49] Ryan Warwick: But now there's this realization that it's not, you know, that there's worth beyond the things that money can buy. And so that was, that was a really fun conversation.
[35:59] Shannon Warwick: Sure.
[35:59] Ryan Warwick: And so any, any mechanism that allows us to,
[36:05] Ryan Warwick: I think as you said, to, to rest and to enjoy the journey-
[36:09] Shannon Warwick: Yeah
[36:09] Ryan Warwick: ... and to, um,
[36:11] Ryan Warwick: fundamentally, with discipline-
[36:14] Shannon Warwick: Mm-hmm
[36:14] Ryan Warwick: ...
[36:16] Ryan Warwick: participate in i- in the good returns that the markets give us without-
[36:22] Shannon Warwick: Mm
[36:22] Ryan Warwick: ... a lot of emotional back and forth and gut churning and-
[36:27] Shannon Warwick: Yeah
[36:27] Ryan Warwick: ... you know, is, is-... powerful.
[36:30] Shannon Warwick: It is. You know, and I kind of think about it's, it's, it's interesting. You, uh, said it so beautifully. It was really eloquent actually. But I'm thinking, you know,
[36:40] Shannon Warwick: if it's something that you know, know yourself. That's two. The know yourself feature. I'm th- know yourself. If I know, I know this is good for me, but I know that I have angst around this, and I know that I'm gonna tend to get in my own way, this is really a tool that can help me move forward. Could I move forward, maybe argu- argue I can move forward more quickly if I just cannonball into the pool? Sure. But I know that that's not who I am, so I'm gonna use the tool that allows me to still move forward. Um, it's not the race car. It's, maybe it's the minivan, but it's sure reliable.
[37:19] Ryan Warwick: Well, that's okay. And, and look, we're, we we could also say, "Hey, you're better off owning 100% stocks and never having anything that's not invested in, in that. Don't own, don't own bonds because-
[37:32] Shannon Warwick: Right
[37:32] Ryan Warwick: ... stock returns are better." Right? So we could make all sorts of claims. That's not the point. The, the point is, yes, investing on average will have higher returns.
[37:42] Shannon Warwick: Right.
[37:42] Ryan Warwick: That's also not the goal.
[37:43] Shannon Warwick: Right.
[37:44] Ryan Warwick: That may not be the goal, right?
[37:45] Shannon Warwick: That may not be the goal.
[37:46] Ryan Warwick: Yeah.
[37:46] Shannon Warwick: So I think there's worth in two, two different areas here. I c- the worth in, and I kind of made word soup out of it, but the,
[37:54] Shannon Warwick: it allowed me to, to achieve those goals that I had financially, so great, but also the worth and the wealth of using a tool when I know that maybe I tend to be angsty when it comes to investing in markets, or I'm new.
[38:10] Ryan Warwick: Mm-hmm.
[38:11] Shannon Warwick: This is a good, sound way for me to move forward.
[38:16] Ryan Warwick: Yeah.
[38:16] Shannon Warwick: Go ahead and use the tool.
[38:18] Ryan Warwick: Yeah.
[38:19] Shannon Warwick: Yeah.
[38:19] Ryan Warwick: Absolutely.
[38:20] Shannon Warwick: Think it's great. Anything else you wanna add?
[38:23] Ryan Warwick: Um,
[38:27] Ryan Warwick: I just think you, uh, you did a great job preparing us. Thanks for all the questions and-
[38:31] Shannon Warwick: Yeah
[38:31] Ryan Warwick: ... um, you know, and then, you know, over time on this podcast, we will, um, talk more about, uh, some of the things we're building around, um, Liferaft.
[38:44] Shannon Warwick: Yeah.
[38:44] Ryan Warwick: Um-
[38:44] Shannon Warwick: Absolutely
[38:45] Ryan Warwick: ... but, uh, I just wanna give you a, a big, big pat on the back because, you know... And, and also to encourage people out there that may be in your shoes-
[38:56] Shannon Warwick: Mm
[38:56] Ryan Warwick: ... that have n- they're, you're not an investment expert per se.
[39:01] Shannon Warwick: Nope.
[39:01] Ryan Warwick: You, you weren't comfortable. I mean, a lot of what we're doing is spurred on by our own experience and journey-
[39:08] Shannon Warwick: Yes
[39:08] Ryan Warwick: ... where you said, "What do I do?" You know, and we don't, w- we'll get into that more, and, and we have already. Um, but, you know, two, two years into this with a good amount of grit, every day hasn't been easy.
[39:23] Shannon Warwick: No.
[39:24] Ryan Warwick: Um, you're putting together questions. You're, you're comfortable, uh, searching for, um, you know, searching these topics and items. And I, I didn't touch this before we came in here, and you did. And I think that's a, you know, as we t- call in our system, life moments.
[39:43] Shannon Warwick: Mm.
[39:43] Ryan Warwick: Because we want to call out
[39:48] Ryan Warwick: these moments that are
[39:51] Ryan Warwick: easily passed over, but that otherwise can be... We can, we can mark this. We can put a memorial and say, "Hey, look, this is a really cool thing." So I just wanna call that out and say y- your, your growth in this is awesome.
[40:06] Shannon Warwick: Oh, thank you.
[40:07] Ryan Warwick: And, uh, um, and I also, I think, and you would say the same thing, um, to anyone out there who thinks, "Oh, I can't do that-"
[40:16] Shannon Warwick: You can.
[40:16] Ryan Warwick: "I'm not a math person-"
[40:17] Shannon Warwick: Yeah.
[40:18] Ryan Warwick: "I don't know f- money or finance,"
[40:20] Shannon Warwick: Yeah
[40:20] Ryan Warwick: ... everybody... And we wanna, that's our mission, is to bring all of this down to an approachable level-
[40:27] Shannon Warwick: Absolutely
[40:27] Ryan Warwick: ... so that people like Shannon can become comfortable with it and live flourishing lives-
[40:32] Shannon Warwick: Yeah
[40:32] Ryan Warwick: ... and experience worth beyond wealth.
[40:33] Shannon Warwick: Absolutely.
[40:33] Ryan Warwick: This is, this is what it's about. And so if we don't call that out-
[40:37] Shannon Warwick: Yeah
[40:37] Ryan Warwick: ... we're remiss.
[40:40] Shannon Warwick: I, I, I will agree with you. Um, and thank you.
[40:42] Ryan Warwick: Yeah.
[40:42] Shannon Warwick: That's, that's really fun. Um, yeah, it's, it's been exciting. I was actually sharing with our incredible Aloha team, I call them, they're our Aloha family, but, you know, just saying, "Let's go to dinner and let's really celebrate," because what was a conversation around a conference room table is now-
[41:00] Ryan Warwick: Right
[41:00] Shannon Warwick: ... we're just getting started, and it's so fun, um, because,
[41:04] Shannon Warwick: you know, I, I'll sit down, and I was, I think I was telling you, it's so interesting to me. We just start thinking like, "Wow, what are we gonna talk about? And are we running out of ideas to talk about?" And then just organically something will come up.
[41:16] Ryan Warwick: Yeah.
[41:16] Shannon Warwick: And you just start diving in, and there is just, no pun intended, but a wealth of, um, information and topics, and there's just so, so much meat to, you know, just sink your teeth into, and it's fun. And, um, yes, I would encourage anybody and everybody, please, please, please, um, spouses, if you, if, if you're... Yeah, I'm gonna, I'm gonna talk to women. If your husband is sitting down and he's listening to this podcast, um, sit down with him or look it up for yourself or call me and we'll have a conversation. Call Ryan. He'll chat with you. You can do this. You can understand it. You can sink your teeth in. And, um, it could be really fun for you. So.
[41:59] Ryan Warwick: Thank you.
[42:00] Shannon Warwick: Thank you.
[42:02] Ryan Warwick: Thank you for listening to the Worth Beyond Wealth podcast. If you liked this podcast, please like, share, and subscribe. The highest compliment you could give would be sharing this with a friend. Thank you. The opinions expressed in this program are for general informational purposes only, and are not intended to provide specific advice or recommendations for any individual or any specific security. RW Investment Management, LLC, DBA RW Investment Management, is a registered investment advisor. Testimonials given by current clients are not in exchange for compensation. This document is solely for informational purposes. Advisory services are only offered to clients or prospective clients where RWIM and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by RWIM unless a client service agreement is in place. RWIM is not a legal or tax advisor.