 Hi everybody Tom Stewart here Can you hear me Paul? Yes, we're full We just got to get Liz to join us and Hey, let's pause here. Why don't you join us? Hey guys welcome. It's been. Oh, thank you We just had to go live if not the Window for us to do this would close and we'd have to set up another meeting. It would take 10 more minutes for us to All right, and we didn't want to do that. So we're we're live right now What part of the country you in I'm in Charleston, South Carolina. Oh, wow, okay You're somewhere on the West Coast I'm an Auburn Washington Okay How far is that from from Olympia? Oh Say an hour drive, maybe not quite that much depends on traffic, but right now it'd probably be Probably 45 minutes. I'm thinking Okay, a little bit north and to the west east I should say looks like Liz is is is efforting to Good oh you're already live hello It's a six after Hey Paul, I'm sorry to do this, but we're going live You know Hey Caleb good to see you Tom I don't know if you know Caleb is in one of our mastermind groups And I saw him in Las Vegas on Facebook driving around in the Lamborghini, I believe Yeah Did you buy it with idle money? Yeah, I probably shouldn't joke All right, I'm going to try and get my phone up live Well, thank you so much for Joining us today Paul and helping us out. We really appreciate it. I appreciate you asking me I'm just asking you for sure. Yeah, anytime we have an opportunity to help people out Yeah, oh, he did buy that car Seriously, did you really buy that car Caleb? relation Yeah, I feel kind of irritated with you that you didn't already tell us about this in group Why am I finding out about it on Facebook you're gonna pay for that? All right, I'm trying to pull up you guys on the live so I can see comments and see who's up so Does anybody have any rent Does anybody have any questions before we get started y'all know why we have Paul on There we go We're live We've got a big lag on here. Yeah Hey, I draw not good to see you another one of the regulars on Our whole purpose today our major focus is is going to be looking at ways to help our workforce I Guess raise their their their awareness of financial planning and how to manage their monies in a way where You know they can take care of the things that they need to take care of and I'm saying our employees, you know ourselves as well we all have opportunity to to learn more in this regard and and Hopefully build wealth over time more than just Going from paycheck to paycheck and Paul understand that you have some programs and and in some some Experience and this is kind of your area of expertise Yes, I Part of this from personal experience part of it is just learning it as we go and and I mean so as an example like the last three or four months a lot of people had been off work totally unforeseen and most people are Not prepared for that. That's what we call an emergency fund and a lot of people they use plastic for that and So we one thing we do is that we ask people about that kind of stuff and many people don't and so I always ask people if they ever played sports in school. I just did an analogy Many of people say yes. My next question is that they teach the rules of the game. Well, yeah Why do you think they did that? Well, so we could play the game So like in the Northwest here, I asked people if they ever if they imagine going out and seeing the mirrors of the Seahawks play Respective games and then not knowing the rules to the game Would they look like a bunch of knuckleheads playing the game? Yeah, they sure would Well, the thing is is every time anybody we know gets paid My experience is most of them never got an education about money in school So they have not a clue most of them don't about what to do with that paycheck to make it work for the family the best And so I think that's the key point Paul I mean, I feel like everybody knows how to make it work, right? We spend it. We buy all the stuff that we need And that's how we do it Yeah We get what we want and you know, we get it fast, but like it's not the way to make it work the best Right. So we have I have a friend of mine that he had a he has a Three-year-old car and the next time I saw him he had a it was a white car next time I saw him He had a black car and I thought He must be getting his oil changed and they gave him a loaner. Oh No, they made a good deal His payment only increased $30 a month Now for how many years? Because the previous conversation have the guy was he was working his way out of debt I'm scratching my head. You're thinking I mean, I didn't ask but I was sure thinking what on earth were you doing? Now you went from two years left on your car. So you've got seven Are you kidding me? Anyway, so I mean, I mean just so sometimes it helps to if we're thinking about buying whatever it is We're buying sometimes it might help to Find a person or two maybe even three that we trust If we can bounce things off of to get somebody other someone someone else's Perspective on this is what I'm thinking about doing got any thoughts So I know that I need that because one of my big problems is I love a deal If there's a deal I'm buying it. I want to buy the thing because in my mind I'm saving money by buying it today Right, so I have to buy that green belt. I need it today Yeah, she well, so we were gonna we're getting on zoom and all that stuff and of course we're talked about lighting and whatnot Anyway, so she says I never buy a thing regular price She showed me this light and I was gonna pay 90 bucks for it No, you don't want to do that do this. So I got the same light For $70 less Yes, and on top of that I need it So that's a good one. I like it, but you know my daughter talked to me about needs versus wants And you know there's and so that is you know, okay, so what do you mean in terms of buying a vehicle? Well, what if you figure out what what a payment would be for yourself and Start a savings account if you will and start paying yourself that payment And let's say you get five grand in cash and You take maybe your existing vehicle and five grand in cash and go down and get the vehicle You want or something close to it and then keep saving that payment and then you have that car You paid cash for along with some cash and you do that kind of thing What is this concept that you're talking about Paul what it I don't understand this concept. What is it saving? Saving money and but you have a specific target in in mind. Do you want you want to get a car? Yeah, like a Lamborghini Well, probably not one of those because those the people that drive those they're not worried about money That's on here today Actually, he just bought a Lamborghini, and I don't know if you follow Dave Ramsey, but he's a Dave Ramsey follower So if he bought a Lamborghini, he's not making payment. Yeah, he's got it. So I have a whole presentation here Shall I get started sure sure that'd be great. I'm gonna attempt to bring this thing up. So I don't know what's good so, okay, it's here and So you guys see it all no go to the screen That has our pictures on it and you see where it says down at the bottom it says share screen Actually, I don't all right do you see Where do you see a box that says you're in the show? Do you see the screen with the three of us on it? I don't see that. I see I only see me. Hang on a second. Let me Okay, so If you get right here You need to find the web browser that you logged in with your screen. I see that. Okay. Let me click on that Okay, now I gotta go over here to this Is that working? Do you see the three of us on it? I don't see the three. No, I don't know. That's kind of where we need to start You've got a you've got a Browser tab in there somewhere. They'll say stream yard at the top of it. I see share my screen Tire say share my screen or share screen. It says share your screen. Nope. That's not right How about share? Nope. Okay, so Paul look at the top Look at the tabs. What tab are you in? Says stream yard says stream yard. Okay, great Click where it says straight stream yard right where it says stream yard on the little duck space Yeah, it's that Can I can see I'm directing It's a it's a running joke around here about how I can never do anything Technologically And at the bottom I see share screen is that one to click Does it say shared screen or share your screen? This is share share screen period. That's it. Okay. That's it I'm right next to it doesn't say leave studio No We're getting closer or further away Downward says share screen. What is next to that? Oh? One says leave studio took to my right and the left of says Okay, so that's right. All right. So now go to share screen Yeah, I'm not at one time and now another window will pop up. It did Okay, good. So on that window you have some choices You have a choice on the left and then you have a choice in the middle that says application Do you see that choice application window? Yep, pick that. Oh Okay, and now you should see maybe your PowerPoint or something like that Not yet For your desk desktop. What do you see? What were your choices when you picked application window? What's the stream yard as you mailed as these zoom us? Why I don't want to get shared on the lower right you want try it Nothing that says cancel zoom No, okay Yeah, that's a zoom window you want to get rid of that if you can X out of that so that it doesn't have anything to do with Us doesn't keep confusing the issue. You have other things open is what's causing trouble Okay, so just X out of that zoom Alrighty and out of here Try and get out of everything except stream yard Okay, the only tab you have is the stream yard tab. Is that right? Yep. That's it Perfect. Now you should see on your screen. What do you see on your screen? Tell us I? See Tom and myself and you But me that's good. That's the screen. We want all right now go down below you see share screen again, right? Yeah Hold on I'm gonna do this first while I'm doing it on my side so that you see This is we have All right, I'm out again. So up at the top go back in there and it says application window pick that Okay, and some choices popped up little windows popped up Yeah, hit that window pick. Yep. Pick the one that shows your screen I've got anything yet that shows my screen here This is what I this is what I have so I need to get I guess I need to get Hang on one second here share Your PowerPoint might be easier if we just Open up your PowerPoint on our end and then you can just talk about it and tell us when to change the page Well, I suppose I could yeah That might be easier Um You can send it to Liz if you would and she can can drive for you. Yes, I All right Sean is saying he's gonna want you on his Facebook live pretty soon because he loves this topic He's a friend of ours that also does a Facebook live. I think he does his on Thursdays every week every week on Thursday and You're gonna have to get better at this Paul Let me see This is On this program is there a way to take over his mouse in Streamyard I know there is in zoom and I know there is in Ring central, but I hate to pull them out So what is your let's give me your email. I'll try email it to you. Yeah, it's American Made I'm a ID. Oh American eight comcast I got right here Tom get off your phone. Keep us entertained Tom. I don't know I mean, I think it's a good job of that yourself So We also had a tough time Employees that reimbursement wasn't meant to buy things. It's meant to save and pay for your auto maintenance and repairs any advice Oh, well, Paul while you're doing that Tom, you know the answer to this question I'm gonna let you answer Sean while I work with Paul I'm sorry Gets stressed out Work done Employees that reimbursement wasn't meant to buy things it's meant to save and pay them for auto maintenance any advice Yeah, I mean What you're really talking about is life cycle, you know maintenance for for vehicles and Yeah, you pay so much a mile or so much per day or how much ever you're doing it but explain that Every I don't know 5,000 miles you have to change your oil and that costs I don't know 50 bucks. Let's say and kind of do the math and divide that by you know, how many 50 bucks by 5,000 miles and say that Every mile you're gonna have to save a penny to pay for your your oil change And you have to buy tires every 30,000 miles and that cost a thousand bucks So you take a thousand and buy 30,000 and kind of itemize all that and say, you know what, you know Every time you drive your car a mile, you're actually spending, you know, 30 cents or whatever So you need to be saving 30 cents every time you drive your car a mile So you can pay for these things when you have to that's why we pay you Hopefully more than 30 cents a mile to pay for it for all those things So really it's a matter of itemizing it and explain that They might buy tires every other year or so I'm gonna oil change every You know, I don't know three or four months, but they're actually Consuming those things that they buy sporadically every mile they go down the road So that would be the way that you would want to explain that Okay, so Paul, I have your PowerPoint Okay I'm on share your screen so that I Don't have the option to share anymore. So I'm thinking that you still have the share Well, you can't share it really you still have yours connected. So Do you have a window up that says share your screen If you do I want you a little cancel button, okay What do you have on your screen right now? I'm in the show Down the lower left and then I have the We have us around it forward to me Liz Should I leave you? I don't worry about it. You wait just hang out for a second here. Okay. I just saved it to mine That's not Tom. So it's coming. I'm here even making me stress. I'm getting all hot and sweaty Yeah, this is this is a classic will remember this one for a while Remember this we're halfway through with our Facebook live right now Well, I want to I want to make sure that they offer at the end. I have a link that Everybody is welcome to go to it's it's it's a link for a free online Fix your money or finances. It's it's an hour a week. It's all it's already well It's live, but it's all been recorded. So they go on there at their leisure and it goes Through I mean it's packed with content so this is the thing that I was Really looking forward to getting into everybody's hands for their employees. Oh, yes Well, they only need to lose had the link But what I'm also able to do is is we can sit down via zoom for people that are all over the US To whatnot and if they're married I want to sit down with both husband and wife Yes, no kidding and we will go through so we find out where they are now And where they want to be tomorrow Tomorrow as in at retirement and I know things change everything like that But we so so that's what we call a finance our financial GPS That's one of the things I have in the in the PowerPoint because again Most people don't have a mercy fund most people are not set up for deadly squat is my experience So we're able to go through that kind of thing and and do that for families What it's gonna do is it's gonna show them, you know, did you get a large income taxie fund? Well, yeah, well, let's change some things, you know, do you have we go through the whole budget with them? So regardless of what they make we can do that and then we go through and Go ahead. No, I said cool. That sounds sounds great. Oh, yeah so, you know, so one thing I know a lot of people a lot of Employees think they they're okay with stuff through work Well, if you get laid off you lose everything if you unless you have some sort of retirement program You'll be able to keep that we can roll those over. You might have two or three retirement programs left at previous previous employment And we can roll all that kind of stuff over but talk about, you know, do you have we talk about? having An emergency fund we talked about earlier. We talked about Identity theft you have a will a Will could be a last-love letter you have for your family because a lot of times people die without wills and talk about create the possibility Creating animosity with your family. Oh my goodness Next to me talk about is our homeowners insurance, you know, if you're renter Do you have renters insurance? That is one of the biggest things that they need to have because if they lose if they if there's a fire The home the people that own the property they have homeowners or fire insurance, but the renters are not covered at all So so fire for renters insurance would cover all that kind of stuff. Then then we go in and talk to you about Vivint we do home security systems because we're in homes every single day of the week So we talked about that another thing we talked about is is life insurance income replacement And then we get in and we educate folks about that and we talk about Most people put their money into banks insurance companies credit unions and what have you so we talked about bypass the middleman So we want to talk about We talked about cash value insurance like all life insurance Universal life variable life and then we talked about term insurance where a company talks about by term insurance What I don't know what that is. I've never heard of that Right. Well It's life insurance with no savings to it So I ask you a question your car insurance. Does it have a savings account with it? Nope Thank you. Does your and you have homeowners on your house? Yeah, okay. Does that have a savings account with it? Nope Didn't think so renters insurance does neither so there's no reason I mean a lot of a lot of insurance companies want to sell you cash value insurance because they make a lot of money But we we have a different philosophy one of say by term insurance, which is just pure Protection take the difference and put that into a mutual fund a mutual fund you own it So I have all of a sudden the PowerPoint, but anyway, I'll just explain it to you Your PowerPoint is getting pulled up. Tom's pulling that up for us right now Are you able to get that pulled up Tom? So one what I Well, I do have a question they'll call from what you're talking about Is all of the stuff that you're talking about is this all in that 10 week course? Or is this all stuff that we have to sit down one-on-one because you know what I'm not all about that That's not horrible to me I would rather be poor than have to get my husband to sit down with me in a room at night and have this Conversation I rather before Well, you can listen to yourself It's just what we find is it's better to have husband wife together because men and women will inherently think differently Yeah, absolutely Most women are security minded more than on the average than men are on the average So when we sit down, yeah, there you go So we want to be able to sit down with them together because you know The wife could be saying something and the husband totally disagree or whatever or vice versa So we try both but everybody's different. So if you're one that can sit down and do it yourself And then your husband's gonna do the same thing because it's if we find it It's if we can get them both in the same page. It makes life a whole lot easier So Okay, so here is your PowerPoint Paul. Why don't you just tell us when you want us to change pages and Tom will Go ahead How money works and then go on to the next one first first real quick We're very short on time now. So you didn't have to yeah, yeah, we are exactly so how much time do I have? Okay, all right great. Well, this is just we're part of the New York Stock Exchange and our sticker is PR I You go the next one I'm sorry Okay, so we call ourselves a financial company for the 21st century sort of found on 77 85 people We got 5 million lives insured and 2 million invest with us They can read go this is a good group. They're very fast their business owners I Go go go you guys trust them. They haven't they have a mission statement. We're good. Okay There you go keep going Okay, that's totally true. Most people won't get a financial education. Don't yeah Financial coach. Yeah Yep. Okay. Yeah, we pay tuition every day. Don't we It's true. Yeah So just talking about paycheck to paycheck, you know a lot of debt credit cards live insurance and Not much for savings for retirement I was just reading a book and the guy that wrote the book said that he would love to have a credit card balance of $16,883 that sounds like Yes, okay Yeah, okay, and so this is what you're talking about your financial GPS, right? Yes, ma'am that All right, cool. I like the idea. I really like that concept right GPS makes really good sense to me And who would pull out the map when you have GPS to? Yes, we we can do that over zoom with anybody we sit down with and we can we can figure it out for them How much basically this is talking about how much we need for retirement? Okay Sorry to meet Okay, this is how you figure out how much you want to retire 30 years The number so so we would ask people a bunch of questions to arrive at this number for them Okay That makes sense. Yeah factoring in inflation. He has a different number, right depending on They are Yes Now for enough I'm able to get people in their 20s, maybe 30s, maybe even 40 I might be able to show them how they can retire. Maybe if they're 20s, maybe five or 10 years before they're actually Thinking they can yeah Yeah, I totally get that we do have some young people on this call to yeah An owner model. Oh, I like that become an owner model owner. You guys that's awesome, right? That's a good one. We like we like some catchphrases around here I do have to ask though Tom. I don't think we have ever had a Facebook live though this Historically wrong. Would you call this an unprecedented event? Yeah, it's a Context of smart business moves. Yeah, you get your contacts we could probably you know put this But we've had Okay, but I feel like we're getting on track here. We're catching up Paul is this is looking better here I'm liking some of this stuff now. This is good. I'm glad before we get in any any deeper I'm kind of curious. Are we gonna be able to tie this back into I mean, we're all business, you know owners here And the idea is how can we help our our employees become more Financially teach them this stuff here and we can sit down with them What's that Yeah, I mean most of them I mean a lot of them have trouble with money And if we can teach them from the some basics, they're gonna have a lot less Trough they're gonna they're gonna feel a lot more comfortable because they understand where their paycheck is how their paycheck is being spent You know, do they have a mercy fund? They have this they have that we can go through that with them I think our people need something And not to belittle our people in any way shape or form But a lot of times they're not at this level yet a lot of our people don't even have check-in accounts So this might be talking about stuff that is It's too advanced, so that's why I was hoping that we would be able to get to the Training the ten weeks of training so that they can get the stuff grow That will help in the sun. I know Half me the other day, so there's somebody that they said they didn't have a check-in account Well, what well they owe the bank, so I'm guessing some of these people if they don't have an account They probably owe the bank money So what that means is that the every bank if you go into a bank and you owe them money They're gonna you're gonna your name is gonna be put on a list or no matter what bank you go to Your if your name pops up on this list You need to go back to that bank that you don't want to go back to because you owe them money and pay the money back Once you pay that money back to that bank Then you're gonna be free to open go to any bank and open up an account But again, they got to pay the bank that they owe money to Right, so I think you understand that this is some some of the people that we are Working with yeah, but this the this presentation is probably a little over their head. Well, no, no, let's go Right the link I think it's gonna go is it's gonna be it's gonna go into a lot of detail and I think that really helped them a lot Okay, and they can do it if they're on Yes, it's yeah, the link they can go in and register for it and yes, definitely To hear you're gonna make us do some math No, I'm actually it's just a percent of interest to your paying or you're getting gonna show you how quick your money will double So it may it could work for you or against you So this is if you keep tapping on that thing, it's gonna go 3% in every every 24 years There's going to make the Leslie's making a really good point to if they owe child support, they won't have a bank account It's another reason not to have a bank account. I got a lot of single mothers and You can't have a bank account if you owe child support because they'll just take the money out So I said a different You know, that's a different mindset as well. Oh, we ran into that in Portland So this is just showing you you know that What most people don't learn in school about this is a simple concept But it's it's really powerful if you can get money working for you that compounding interest is like magic I mean, it's like holy Toledo it went up in my account lit up Well in time you actually teach this in foundations about, you know, the compounding numbers You don't specifically talk about this aspect of it, but you talk about it with price increases Inflation and what happens to your money over time with I mean, yeah, we do You know the idea of of educating our Workforce our cleaning professionals our entire staff Why right how to how to take a little bit of money and build wealth with it is Yeah Yeah, building wealth. I don't think that our people ever think in terms of the word wealth and connect it to themselves so I like the idea of Teaching our people to build wealth for themselves. I just don't think they at least I know a lot of my people Is a concept that About the book by Napoleon Hill think and grow rich. Mm-hmm. Yeah, okay We have it as part of our library but a lot of our people on I'm lying. I was just gonna lie right there. So I'm gonna reel that back before the lie actually comes out We've only had three people check that book out and none of them liked it. They didn't understand like what is he talking about? He's crazy. What what is he like? He thinks dead people are in the room with him Okay, well, you can't listen to everything that Napoleon Hill says but You know which one we did have good luck with is the millionaire mind Yeah, that book and then the millionaire next door. I think we've got a little bit of luck with that book Okay, and I know a lot of people follow Dave Ramsey. We have a lot of business owners But all right, let's see what we got save more money and accept a lower percentage or Save less money at a higher percentage All right, so I guess I'm gonna save less money at a higher percentage Yeah Don't pay the high cost of waiting sooner you begin to save the greater. Yeah There's a cost to waiting, right either. Yeah, that's why we want to get try to get young people to start immediately And so this is perfect for us We do need this for our people because we do have a lot of people that are younger and if we can get them started on a savings plan I don't know about you guys, but it is hard to get my people To sign up on a savings plan. We even did a sharing program to help them Yeah For every twenty five dollars that they save in a savings account And we'll even take it directly out of there check them that we would put in two dollars So, you know Not a ton of money, but you put in 25 will give you two you put in 25 more will give you two more So Well, you would think but not not a lot of people wanted to do that. That was Yeah, we have to get a long term and we're able to get people's Invested in mutual funds for those 25 or 50 bucks a month. I mean 25 bucks on it seriously. I Love the idea of mutual funds for our employees, too I thought Dave Ramsey at least tried to shamming. Yeah paid a lot of last year But I would be interested in a savings plan. Awesome. All right, let's go Paul I mean Tom, sorry This is just money so first on the left they start when they're 22 and they go through until they're 29 to put in 44 grand the guy in the right he plays parties or does whatever he does doesn't start till 30 and You can see 44 grand compared to over 200 grand and it's a guy Can't going on the left how much more they actually have. I mean, it's amazing Yeah, 2 million to 1.8 over there. Yeah, and this guy on the left when he put 44 grand in Yeah It's you know, it's kind of like exponential growth if you're like doubling like 10% interest the rule of 72 every seven years You're doubling your money. Yeah You know numbers start to get big when they double several times Well, great analogy is I know you all been on plane So if you got a plane going on their own weight, it's not seemingly not doing anything you get except getting your speed Next thing, you know, it takes off and that's exactly what the magic compounding. It just looks like So then we talked about that thing here I Think we've all seen them that riddle, too I guess not really a riddle, but it's it's always presented as a riddle Which would you rather have a million dollars or a penny that doubles every day for a month? There you go So that's a common little thing. It's huge Yeah All right, the three so if you guys haven't heard that you haven't done it try it take your penny and Double it every day for a month and look at how much money you would have at the end of just 30 days It's a long time to get any kind of money at all, right? 32 pennies I'm already a weekend. I still don't even have a block 64 so we can so how am I going to be Preciable amount of money at a month. So do the math y'all. All right Okay, this is all cost averaging so so is an example we talked to people about investing every month just like clockwork and Well, what happens if it crashes? Well, guess what you keep investing perfect example We just went through it. So the market went down 30 percent. Well, you know, our company stock was at 138 I was able to buy it at 70 It was on sale so every time I know people want to buy things on sale I don't care what they're talking about. Did you because I asked him was the last thing he bought And I don't care what they say. I say what was it for sale or on sale, huh? So This is not good It's not not a good thing to always buy everything on sale because you can be sucked in and lured into things that you don't need Well, sometimes this is true. I have a friend of mine. She she gets she sucked into Amazon but anyway in terms of the market if it's if it's crashes, it's a great time to invest disciplines and You know frock and and being diversified so that's what like a meat of fun would come in handy because one meat of fun Can't be in as many as a hundred a hundred fifty different companies and they're all diversified very diversified Let's go Tom. All right. I'm thinking you guys for your employees before you start talking to them about Investing make sure that they're saving so save you first, right? And that currency fund Okay, teach them how to save some money and get into the habit of getting money out first I'm mutual fund is one most effective long-term investment vehicles. Okay, great So this is just talking about the cycle here So we're talking about here having people invest they go pull their money into the fund And so we what fund is gonna do they're gonna hire people that that's their total job is to go out there and seek out companies who wish to invest and They're all over the world and then they do that and then Then they buy bonds and other stocks and whatnot go through there And then regardless of the price and it goes over here so legally, you know If you want to withdraw some money from a fund they have to have your money to you within seven days now with the new Things with the online so forth Generally speaking you can get your money a little bit quicker than that, but that's a whole Pardon me Just talked about you know, who what's what's just gonna make more money everybody wants to be in a rising market But the reality of is we're in a fluctuating market all the time so you go the next one so a You know what they got six hundred dollars here if you look over here to the right you got 42 shares They got 840 over here and below that B They got 126 shares and then they got 1260 so the fluctuating market if the market goes down you're buying that That many more shares because a price per share has gone down and you're only investing a hundred dollars a month so so both of these people invest the same amount of money, but one on the Person B has made a lot more money. They've got more shares If you're invested in the same amount of money every month stop market going down is a good thing You're just buying more stock. You know exactly that value only matters at the time. You're trying to sell it Yeah Then 30 who's wants bill in responsibility. So we're talking on the left about you know young kids debts mortgage So if this is what we're talking about In terms of like life insurance as an example we want to be able to Replace an income so out here retirement most people will reach retirement So kids are going out of the house deaths are down mortgages paid But we need to have cash to live on so security it'll do a little bit It might buy a piece of bubble gum or maybe tank of gas But it's it's not going to be enough to quote live on so that's why we want to have people Impressed upon them to start putting money away for the long term Now we talk about cash versus by term invest the difference here on the left you know it says here you got a hundred fifty thousand each one and They're paying The month 297 and then then you got term insurance here So the double the coverage a lot less money you take 175 and put that in the mutual fund He owned both so this is the same idea as paying off your credit cards by paying the same amount each month and as you pay one off take that Extra money and and put it and then more goes toward your principal. It gets paid off faster Kind of the same idea So now the link over here in the roll of right is the link to the to the 12-week class they can get This is what we want right here. Okay, Tom. This is what I've been waiting for Paul I That link for us and so what what we're looking for here you guys or our thinking is that you can Take this link and Maybe for ten weeks Present one class to your employees eat, you know, like every Monday morning Let them or give the send the link out on Monday and let them take the Class over the course of the weeks and the next one out the next Monday maybe have some Bonuses or rewards for anybody that can answer two questions three questions about the training that they went through and Maybe have them begin a goals program. What do they want to say for first and and my suggestion, you know You guys know I have had a goals program in our company for 20 years now start small It's okay. If the first thing that they want to buy is a purse That's fine Have them start with saving money for a purse and once they get that purse It's more exciting to then go for the next bigger thing and and heck now a days some purses are expensive, too I heard they can't Yeah, they can be I was gonna hand out my number I didn't get my number on there, but may name a number if they want it. I was gonna do that, too Yeah, absolutely. We will we can put it in the notes here. Okay. I'll put it in the chat I can Well, what is your number? It's a two zero six Okay, seven one three Seven one three zero seven zero seven Pacific time Yeah, you guys are on the west coast over here, so Five o'clock in the morning I caught at 5 a.m. In the morning. I'm probably I'm probably working out or sleeping so You do realize I just put your phone number out on open Facebook, right? That's fine Here hey, good to see you as One of my buddies All right, so these are are these the classes all that are in this 10 week course in that link there That's a 12 link. Yeah 12 week course. Yes Yeah, it's 12 weeks Is it the stuff that's in this little red house some of it? Yeah. Yeah, they're gonna go through I mean they're gonna be some people it might I'm a I mean I'm gonna be honest with you some people love it and then I mean any class you take in school There's gonna be the people up front in the middle of the class and in the back the ones in the back of class It's like I'm only here because I have to be here. Well, yeah, I'm sure here. I mean Tell me one person, you know that doesn't use money Right if they make money and they have a family I would think that they would want to Pay attention because there's gonna be a lot of things in here that they simply never ever got in school. I Mean a basic budget is this it Tom. Did you pull up the link? It is This is the first Yeah So says here is free to register So if I register, what do I get? You get you get 12 classes they go Alright, so you guys that that warning is funky, right free to register sounds like free to register But we're gonna charge you for something else down the road. That's that's not they want to get involved Buy something there. They're free to do too. I mean they don't have to buy anything if they don't want to Okay, there's not they're not gonna be like forced to okay now and give us your credit card and we're gonna Know all right Sounds good Okay, you guys so this was this was our idea is that you could begin educating your people on financial management, especially because with with COVID-19 happening the way that it did a lot of people were caught unawares for you I know I was I know a lot of people were really caught Unawares did not have the amount of money that they should have had in the bank. I did not now was I okay? Yes, but did I feel comfortable when it was going on? No when I heard everything was shutting down We were maybe not going to be working for you know in the beginning. We're talking about not working for three months Was I happy? I was not did I sleep like a baby those first few nights? I did not so if you were like me then Maybe you also are putting a little bit more time energy and effort into some financial planning And let's share this you guys we can do better with our people and for our people Especially in the context of what's going on today So you guys know Tom and I we don't really go political very often, right? But in the context of of what's happening today It's true that our people are in a worse place Than a lot of employees that are out there in the world now I'm not comparing that our our employees are in any way Related to you know the the problems that the Different races are having any of that kind of stuff But we can't deny that the employees that we have Tend to not get the education the help the support that they need and here's one way that we can at least help With this one area, I mean we got to be doing a lot more of course, but here's a way to help in your area your people I mean Right here in the deck 60% of Americans have less than a thousand dollars in savings What percent of our employees are team members? Fall into that category Probably more than 60% right? I'll tell you in my company that number is probably closer than 95% Oh, I mean we have an obligation as employers to least There's only so much we can do in this industry We don't have the means to pay six-figure salaries to cleaning professionals the economics don't support it right if we're going to help our people we have to help them through Education and this is this is I mean this isn't all of it, but this is definitely part of it we have to to help our team members to Understand what money is and how to use it more wisely and you know over time get to a point where you've got much more than a $5,000 in the bank because you can't live in this world long run and have You know no, so it's a going into the details. I mean you understand everybody understands why that's important But we get caught up in the day-to-day hustle and bustle of just you know Trying to get the homes cleaned and deal with all the things that we're dealing with This is important and and we need to be thinking more about Providing this type of training and support to the people that we count on and And and this is an opportunity for us for retention as well a lot of people in our industry a lot of business owners Really struggle with retention. It's harder to leave a company that is building you up It is really hard to leave a company that is making you better Making you more in this case may be financially secure and I really love what Tom always says About teaching our people about not just making money, but building well When I don't know about you guys, but I know it in my company my None of my employees not one of my employees ever thinks that the word well Will be attached to them in any way shape or form None not even one and I feel like that's really sad Like this like where is your hope when you can't even see a chance for wealth in your future. I Gave up offering financial planning advice. Hello to my ladies a while back, but what you're saying is so correct. We'll try again. Yay Good, I'm glad you can try again Yes, I actually I feel better I don't even care that the beginning of this PowerPoint or not PowerPoint of this Facebook live was a Struggle you saying that for now make me feel much better. Thank you. I appreciate that We are against the hour here so Paul this was really good information. Sorry, we had some technical stuff up You know once you know we get down the road a little bit, you know Maybe we can get together down the road and you can you know pitch this again and help us In a more controlled setting over a longer period of time because this is important stuff. Well, that would be Yeah, I that would be an opportunity that would be fantastic and Maybe I can find some resources you guys could could show their employees because I know a lot of it is Just their thinking and if we can if we can show them little bits and pieces here and there That can they can start changing their thinking because we are Where we are based on our thinking pure and simple so if we can work on that Yeah, and she and then also was saying that she loves the idea of that for just $25 you can get started so 25 bucks that is totally reasonable I feel like if you're paying weekly or if you're paying bi-weekly it makes it even more palatable For people, right if they're getting paid weekly and they only have to pay seven dollars a week That seems affordable, especially to your smokers because they're used to spending what ten dollars on a pack of cigarettes So right right a bucks a week or or a Starbucks coffee Tomorrow is on the spot and we've got everything lined up. It's gonna be awesome It's gonna be rapid-fire questions Liz myself and our special guest who you're just gonna have to be here tomorrow to find out who it is But you don't want to miss it. It's gonna be Go ahead Tom what no you got to bring your questions because each question everybody each one of us will take one minute or less to answer your question and we have a timer and Once we get to a 60-second mark You know we get buzzed and we have to you know be quiet and it goes to the next person and We're gonna get a lot of stuff knocked out real quick so If you have any questions about anything related to house cleaning business or you know We're willing to take questions on whatever you got. We might know more about some things than others But but bring it on Please no fly fishing questions for me because it's gonna be that answer is gonna be so short so boring All right, but I do have a hint. I have a hint about our secret guest It's man. I got one more hint Larger than life when you think of him you will forever think yes. He's larger than life All right, you got my big clues there my big hint see if you can guess who he is and join us tomorrow to find out Thanks guys Yeah, thank you very much both of you