 Welcome everybody. It's Friday on the independent investor channel live stream Get a special guest here Kyle to help us kick off 2024 Welcome to you Kyle. It's been Long removed to having you on the channel, but welcome back to the independent investor channel Kick it over to you get your thoughts on what you think at 2024. It's just one month down There's been a lot that's unfolded so far this year What's your thoughts on the market pulse as we're entering into 2024 and maybe what you expect here? In the coming months. Yeah. Well, first of all, it's bad. It's good to be back on the captain ship It's been a little while so happy 2024 and thanks for inviting me and we were just joking to that You know all these are let me close this off and get a bit of feedback So left the video open, but yeah, no, we were just joking to write Meta stock earnings all the stuff's here We're just joking that the wife's got got real lucky transferring her her Meta stock tour tax-free savings accounts just before the airing But yeah, man, I don't know how short-lived you think this is gonna obviously it's unsustainable a lot of it I'm yeah video going in here is kind of just it's it's pretty unforeseen, but the sustainability I guess is the real question like how long is this gonna gonna last, you know Well, what does that mean for investors? I mean do you hold these stocks through the indexes? I mean look most of these large cap tech the mega cap tech names Even if you do have a piece of the SMB or you know a piece of your your technology ETF for the for the sector specifically you own a pretty big portion of these so yeah, don't chase it's Really incredible to watch the action and Nvidia watch, you know Meta was interesting The Google quarter was a phenomenal quarter and it did sell off a little bit, but yeah, you know It's fun to watch. I think if you're invested in the stock market It's hard to not have some indirect exposure If you just don't own the stock South right here Amazon and Google I own some fairly large positions on I did buy Facebook before the buy Meta before the earnings Took it for a quick trade here, but at 40 times on on Meta There's schools of thought that would suggest that it's still cheap here with the opportunity going forward I'm not so much. I don't know if I can see them going through a quarter without having it come back down into the stratosphere, but Nonetheless exciting times Yeah, I think the real concern here is people have to recognize that we just went through a wicked crash for all of a Suddenly only thing that mattered were earnings and these companies that were spending just exuberated amount of cash and just focused on the expansion of The future realized that they need to retain a lot of it to the bottom line So I think this is where we saw the massive layoffs that they weren't necessary like these companies didn't need to lay people off But they understood what they needed to do for the shareholders So they laid a bunch of people off they focused on how can we double up revenues? I mean we've seen Google attacking basically people using ad blocker with a crazy lag in people's Crohn's like that was just recently I mean Meta if you go on Facebook or Instagram like they've doubled up the ads like they know what they're doing And I think they can only do this for so long before we go back into a bit of a slower period because this is Unexceptional growth right but so it's just to get the recovery I mean when your stock drops like Metas did like they understood the task at hand And they have the margins and the liquidity and the balance sheet to make that kind of should happen Whereas most companies don't right so I mean the big mega tech in a market like this is I'm big for recovery plays I know everybody's like and I'm a big proponent to looking at like some of these Canadian stocks You look at some of the infrastructure plays in the US or some of the telecoms like some of them look cheap Right the problem however is in a recovery moment like when they start cutting interest rates and stuff The companies that are still gonna perform the best are tech because you know when people have money again to spend I think they're gonna retain it and put it into growing their business on Meta on Amazon They're not gonna be necessarily Seeing a huge bump because that's my bet with the Canadian banks and some of these other companies I'm like you get the flow they're going through because of the interest rate cycle But the problem is you might get an initial bump where you make a higher than average return because they're so cheap today But they're never gonna see the same growth like I'd rather pay 30 times for Google than you know by one of these companies that has Virtually no growth at an 8pe right and we might get a little return in the beginning But the long run there's just no way they're gonna come close to what's going on right now I mean the the technological stuff. I was just joking in your group saying that you know When once my job is replaced by AI and by God it is coming I'm we're already talking about it in my business Once my cars are driving themselves and you know, you got robots flipping your burgers at McDonald's that's when we've reached parody That's when that's when tech is starting to reach its It's era age. That's coming, baby. I can't wait man It's gonna be scary and wild and I'm glad that I've had enough time to make my wealth before our kids get screwed by it Interesting I guess I have certainly an optimist View of the future I think we're on the precipice of one of the most exciting times in our future I think us talking about social media and AI certainly is the discussion now, but you know I remember 20 years ago We didn't have any of this and I think even 20 years removed of when this was introduced to us the googles and the Facebooks of the world I Think we are still defining the landscape and and I think there are blue pockets. I really do And what is that gonna mean for the next 20 years? I I think me and you are gonna be reflecting on this time as being Being just that being on the precipice of it. It is exciting, but Yeah, I do want to digress a bit Kyle Kyle you've been a featured channel of mine for a long long time So I do want you to kind of talk a little bit along the lines of what's been going on on passive income investor I've been a fan. I've been watching on the sideline and I've just been real proud There's been some significant growth and we talked a little bit behind the scenes about you know What this YouTube opportunity means to us whether it be directly or indirectly? I turn over the floor for you because I Selfishly interested to hear what you have to say, but just been real proud of you And I know the the investor audience would probably like to take a digression back and hear a little bit of the personal Side about what's been going on with Kyle the passive income investor go ahead I think you get more of the personable stories obviously because we chat more personably off stream But the channels I mean like I said I enjoyed doing the channel But like we were talking that like the opportunity that's arisen from my channel that is taking me beyond it It's been taking up like the vast majority of my time I don't think people appreciate the amount of work It takes now to even make one video with the amount of time constraints that I'm just trying to manage between like two I'd say that I have about three jobs now I've realized that I read this incredible story of this of this janitor that basically worked I think was a janitor. I'd have to double check but he the dude basically worked two full-time jobs for like 10 or 15 years and he became like a multi-millionaire and I realized that like You don't have to be the smartest guy and be chasing like the six-figure income or some massive channel growth It's great if you can find one thing that you become absolutely like absurdly excellent at but I've realized because my skills have been so broad And I realize you don't have to be great at everything But if you know how to run tick-tock and like Facebook and like Google ads and you know how to manage social media accounts And you understand a balance sheet like the the value that has in the marketplace is pretty insane if you can prove the work So I've been able to pick up like a ton of jobs that I linked up through my YouTube channel They both they all pay like very reasonable salaries and on top of each other like it's a substantial like six-figure income So and again all thanks to the YouTube channel, so I'm trying to keep the homage going for the channel by I Feel like I could be putting more quality behind it But like after you know five o'clock hits and I'm so current out like you know if I can post at least three or four times a week I'm pretty happy with my streams that I started to consistently do on Sundays now So people get some enjoyment out of it, but but it's it's kind of becoming almost second I don't want to make it a secondary thing But that's what it's starting to feel like in comparison to the the vast amount of work That's done before one of those videos gets posted these days Yeah, yeah, so would you recommend starting a YouTube channel? In this environment in 2020 or like we said I think I think there if I were to do it all over again I do tick tock first This tick tock is just I can post up there And I can get thousands of views way easier and it's so much easier to grow there Whereas like we were talking on YouTube like I've watched people do it successfully recently and they've done it through on it Like pretty much a couple months They're either doing it through paid marketing or they're doing it to go on other people's podcasts where they'll pay like I think the Smartest thing you do want to build a YouTube channel today take 10 20 grand and just go on a bunch of whoever's in your niche Go on those podcasts promote the crap out of your channel if your content's good And you know it's good then you should sell it anywhere and you can grow an audience relatively quickly that way if that's the goal in mind Right, but by all means I think everyone should do social media I don't think there's an if and or but no matter what industry or in or what business you're doing I have seen it change people's lives through the simplest of things like you know Just I told my wife the retirement plan is to get a cat and make it famous because I'm tired of watching these cat tiktokers makes There's more than there's more than one oh my god, but it's quaint right like there's a guy that I watched that to you He mows people's lawns for free and does landscaping for free for tiktok We'll go into these people that are they can't do it themselves They're getting notices from the municipalities, you know go in and say hey I'm just gonna do this to help you out. He'll film it dudes getting millions of views in the work He's getting it from it is insane like there's just so many Simplified examples that I think make YouTube and just social media in general like I mean that's why Google's a multi You know gonna be a multi trillion dollar business here soon I mean there's good reason for it because it's changing people's lives, right? And I I don't know I have a certain place in my heart for YouTube now I think just because of how it's yeah changed my life and you look at the brands like mr. Beast, right? I mean it's building billion dollar brands like I don't think we're seeing the same thing on on Netflix I know people love Netflix, but I think whatever Google or what YouTube did before Google bought it I think it was the start of an unprecedented business model for for media and you know giving people You know a hand at being whatever we all grew up watching on TV when then like you know We were young to get on TV wasn't possible. You had to know somebody. There's only a few stations, right? Now it's all of a sudden that's given to every single person and yeah You might not be getting like you know billions of views like Elvis was early in the day But even if you can find in carve out a little niche where you get you know 10 20,000 100,000 followers and like I said it only takes a couple of those people in a really high place to recognize you And before you know it you get other opportunities, right? I mean I I do everything I can do to keep those opportunities at bay and they're still knocking up my door and We talked a little bit backstage, you know, I'm in the throttling mode right now I'm very very cautious over my time obviously I have other time commitments But it's nice to be able to parlay What work I want to take on and you know kind of maybe not even slow play but I because I just don't have the time There's only 24 hours in the day and I I know I could find it if I could just carve out a little more time with my Dave, I just don't have it But you know, I'm happy Yeah, you know deserve the bs either Yeah, I know it's a little bit. There's still ps. Yeah, I know I know I've been joking with the mother-in-law she She she went through some issues with one of her jobs and she just wouldn't put up with it She quit and I'm like good on you I'm like at your age and the time you've put in they can effort. I'm like don't don't yeah My age I have to suck it up because you know, we got bills to pay and people eat here So I'm like I'll suck it up, but that's why I'm gonna grind it out for the next three to five years So then that way I have that f you money Enough money that I don't need anybody's bullshit in my life and I can move on to the next thing Right, that's the real dream. I think right is just to have enough to make sure you don't matter what you're covered And you can get by and not have to deal with that because I think we all have to I mean I think unless you're privileged enough to be born into it or get married into it I think it's good right. It's good morals, right? It builds character that you know if you want to get yourself in a position of wealth Understand like other people's priorities come over yours when they're paying you and sometimes they're assholes You just have to deal with it, right? And so well said. Yeah Well said I was privy to a post that you made in my private group about your current portfolio you might given the group some insights on that because I Looked then I looked again then I looked again for a third time and Actually went into all the slices that you had shared there. I thought it was really really smart Was really well-built. There was a lot of pedigree that is obviously down to the micro percentage Exclusive to you. However, however To some extent there was some really good themes and some really good commonalities and we were talking backstage about the power of Having the bulk of your portfolio in the bulk of your money and and I know we've talked about that we've both engaged in investments that will probably Well fit exclusively for for us as individuals those that have been playing the game for a while and not necessarily the masses Can you speak a little bit along those and what you shared with the group because I thought it was a really smart man I've been I've been trying hard to offer as much clarity as I can because the problem is is like Like my fiance super private about her stuff and I respect it greatly And she obviously doesn't want me just like constantly show because there's YouTube channels out there I noticed they do combine portfolios and that's the way I look at it Like basically what mine what's mine is hers what hers is mine We're splitting like the mortgage here like everything's pretty fair the way we've been doing things But I respect that like you know, she she's gonna have control over this at some point or vice versa So it's like, you know, I want to make sure we're doing it in combination So I'm always just cognizant of what she's been doing with hers We've been like guiding her and she's been doing most of it on her own and she's done Excessively well because she doesn't she doesn't she's not as she's not as volatile as I am trading things around So she rode meta like I think her average bio meta was like 203 She wrote it all the way down to 90 all the way back up to where it is now Like she just doesn't care to like she's like, I just want to hold it for a long time. She's like, I don't care what it does I don't want to look at it for like I might give the best sediment ever But in the perspective of our entirety because when people look at my channel like I try and remind the decisions I'm making are also made around the perspective of the whole but I'm not showing you the whole pie Right, so I've tried to make it in a way today where I posted a video where it's just not talking about the numbers And I'm sure some people could probably work it out give or take to a certain amount But the whole point was I'm just saying hey look Here's how the portfolio looks in its entirety to give you like full scope of like why I make the decisions I'm making but like you said 70 if I had to put a pin note on it's between 70 and 75% is purely an indexes between You know Canadian US markets mostly US markets the vast vast majority of it's in US markets And then we've probably playing around with 20 to 25% in individual holdings Which is probably you know I usually don't want to do more than 10% but typically just because of how it's kind of spread between some of Canadian stocks in US I'm not like as concerned about it and you know We'll probably keep it at that balance at our age because to be 30 years old I don't think it's too big of a deal at the scale of our portfolios to be where they're at to take on a little more risk to Try and get some outsized return. I'm you know because I'm still pretty fluid that you know There's there's gonna be some massive look at NVIDIA, right? I wasn't smart enough to catch NVIDIA but you know You could argue about a day and night but I have like high conviction still in Tesla now that it's dropping a lot like Google here Anytime Google drops like I'm on that You know met I wasn't as wise about but back then I was also like not a lot We were like really out of individual stocks just because if I wasn't sure what earnings were gonna look like But you know you've got to take some caution because I know I made some mistakes in my caution But like what I told people to is like, you know, I didn't have the same down experience Everybody did and we made a lot of money in 2020 and 2021 I mean we went and watched that movie dumb money and it's so nostalgic now because you know That's the reason that we got a mortgage like I would I sat down with my wife I'm like how crazy is it? You know, we we rode through that in crazy market We made like crazy gains on a lot of companies and yeah, we took some small like some losses But you know, we got out of all that crazy stuff and you know, we walked away with a few, you know 10 exers I mean, it's hard to find those unicorns today, right? So I'm like super thankful that you know, I was more cautious When 2022 hit and I was a lot less exposed to the drama small caps and some of the stocks We were holding like say mine med for example or even Tesla, right? Like has, you know took pretty much everything out of Tesla. It took some massive gains So very thankful man. What about you though? I mean, have you been starting the year off? So I'll comment on that But I will say I've known you a long long time and I've actually seen you evolve in your in your investing Thesis and application and from day one, it doesn't mean you're right or wrong and now in February 2nd It doesn't mean you're right or wrong It just means that you've had the capability to evolve in your application And I think people really need to take that to heart man I I think people need to be critical of their their their application not too overly critical But you know be be willing to change and not get stuck in a rut and deploy the same strategy Over and over again. I can tell you leaps and bounds From where I started investing and where I am now and what I understand and what I've Really ground-truthed in the market. You had made a comment to me back before we came live about The power of those passive assets, right? So where you said, you know, you might have been cautious and missed out It didn't mean that it was for naught. All right, you you're making those returns in a passive sense But you're doing so from my lens in a much more defensive way And and I think that's really smart and it's been it's been kind of fun It's it's hard it's hard to To be part of an investing community and not look at others and say well Maybe you're doing this wrong or doing this right or you know, you know, everybody's got their own kind of philosophy about what to do But it's kind of cool to see that maybe part of this game is to be Be able to evolve in your craft and really listen to people and what they're trying to convey because I I Think sometimes all too often people have a really really hard time adjusting to change and Markets, we're not dealing with the same not market that we were five years ago now. It's completely different And and I I think it's incumbent to to monitor that to continue to To participate in markets the way that we know works over time and just acknowledging that you know In five years, we're probably gonna be be dealing with a significantly different market than we are now So so what do we do, you know? I got a question for you though If you roll back a little bit, how did you go through the the crash from 2022 onward? Were you still buying did you end up going into some of the high yielding like savings accounts or bonds or GICs? Like how did you kind of go through that? I'm curious it from your perspective. I didn't touch any of the high yield stuff. I Was glad I didn't my transition to high yield Just came to fruition today. I've been sharing on the live stream. I did switch to Fidelity From Bank of America. I was making close to zero on my idle cash with Bank of America now with Fidelity I just got my first interest payment on a small amount to savings around 35,000 And it was like close to a hundred bucks. I earned $65 all last year on idle cash with Bank of America That should really hit home with people So I did not get caught up in the bond craze I did not get caught up on the teeth Which what I consider to be teaser rates to be brought in at a higher interest rate only to be dropped down over time Right. Yeah, but as far as from 2022 to 2024 I openly conveyed on the independent investor channel weekend and week out how tough it was and how I felt At times alone and independent in my application to continue to aggressively fund markets and Kyle to be honest with you men I look at the accounts now and if I can convey to the audience because this is really really hard for new investors to even understand at All when markets move like they have over the last three and a half months You cannot articulate how quickly Markets can move to the positive right it seemed like a slow doldrum down from 2022 it was really rough It was tough and I was succumbed to a tough single stock holding that I've been open on the channel with and you know I still hold 8,000 shares of the holding and and and holding on to the fact that they're Significantly less value than the cash right now and some hope not even on some whim of fundamental that they're in a niche space With with stationery power generating that they can make a go at that but as far as fundamental right now It's really really a tough investment. So that double whammy for me Really did test What it is and there was a time there where I was like man alive It almost seems like you're throwing money into a vacuum, you know Your funding markets at thousands of dollars a clip every single month and it's like man alive You wake up every single day and it seems that the markets are going down down down every day and And it's just in those last three and a half months where it's like bam there it is it proves again That those that those steadfast fundamentals they always shine and they shine at a place where it's tricking a lot of people It's tricking a lot of people right now that are on the sidelines and or they bought into bonds last year They all thought that recession was going to hit in 2023 and that those same rhetorics have rolled into 2024 You know and and I think we're on the precipice of of quantitative easing. I I'm not a huge fan of it I'm glad that Jerome Powell came out this week and said what he said. I think it was prudent to do so But I think we might be on a multi-year kind of look if we can succumb or subject the markets to these higher interest rates And and kind of come out of it the way that we have and have the fed navigate the way that they have and I I really think we might have more positive ahead of us than the negative I'm not suggesting that the first half of 2024 might not be choppy, but I don't know that's just my pulse of the market I and I'm a lifelong bull, you know that It's hard. Yeah, it's hard to not be bullish on on these markets Look at the track record over the last 25 years. It's nothing less than spectacular Yeah, and I want to put into a Reason here too because I've noticed that there's been so much negativity And actually I want to talk to you on the other spectrum of it when it comes to the the inflationary pressures And just kind of how that's perhaps affecting you on a personal basis But but I think one of the things that's been arcing me a lot is people just shitting on the US dollar so heavily And I think when you live in the US economy You kind of get stuck in the the concept of the reality that like I can only experience what I experience here with what I'm doing And you forget that like yeah, you're experiencing inflation in your own market environment But take your US dollars and go look at the impact that inflation has had on so many of these other economies I mean if you like I was showing people to comparison if you just held US dollars And you lived in Brazil in less than a decade you'd have been up 60% Just in a currency conversion same in Canada same in almost every other Country around the world the US dollar is stronger than it's been in over I think 10 or 15 years And I'm like and I don't think people recognize that in a time when the government was printing more money than they ever have in history At the same time having a global Domination of people chasing that currency to the point where it's holding decade highs is just Incredibly hard to wrap your mind around and it just showed that in an inflationary Pressure and if in a global state of fear, where does everybody want to go? They want to go to the US They want to hold US bonds. They want to hold US Treasuries they want to hold US anything that's related to the US dollar, right? So I mean and there's a fun correlation because as people trade their US dollars for companies and stocks like you can see major Fluctuations between the market and the dollar because typically when assets explode the US dollar value goes down because people are probably pulling it out of cash-based assets like money market funds But it's a fascinating thing man, but to kind of round it to to the inflationary side I feel really bad Because we're privileged enough to be in a situation where I'm watching like I've only been in this building for This place we bought for like four or five months But I've already seen the increase on HOA because of inflation like I'm already seeing bills going up Because of inflationary pressures, but at the same time like it's it's so incremental like I mean We're very fortunate that we could pretty much just pay this off and still have a ton of money left over So I'm like I feel bad almost icky talking about it this way because we're so young and we're privileged enough to be in this situation But I'm curious too. Are you seeing like inflation hit you or perhaps your family like hard because I mean It is substantial how much the prices of things have gone up I mean, there's no arguing it even if you're rich like I mean Like I know I would be I would be neutral on the topic from one perspective and Very much insulated from the topic on another I really try to convey as much as I can through the channel so people truly understand my situation I'm not a property owner right now and as much as that hurts me It also helps me Because where I'm socking away money for that eventual maybe correction in the market which I'm kind of on the fence that I I don't I don't I don't think that's really gonna happen the way people are calling it to happen I Hope I'm wrong for my own selfish benefit and I hope it happens right at around the time in about three years Well, I'll be reemerging back into the real estate market But when I say insulated I live here Free in New York in one of the most expensive city So it's very atypical and I don't want people to Misconstru that as Ryan's got a halo. No, no, it's not like that. It's part of my benefit, etc You know we give up why on if you don't have to man. I mean Well, it's it's tough to Kyle because you know, I look at the adjoining states here. I'm right next to New Jersey and you're talking about 850 bottom and for just a regular single-family home, you know, not gonna live there It's not long term if it was that might change the gig a little bit, right? So, you know, I'm not commuting from Pennsylvania So I live two minutes away from work. I Fill my tank up my Tacoma was just a funny video I posted to the channel today about the ways I got some comments in the in the channel I fill my tank once every single month You know, I'm able to go to the gym. I'm able to spend some really good quality time I'm able to vacation when I want so I do have that freedom I've owned two homes previously and I do enjoy that support, but You're in Home Depot here in the United States every other day when you support a home Yeah, and you're having to succumb to that and the tax increase you're talking H away The tax increases is something that I've put up with personally. It's just a part of the play in the game And and I'm I'm subject to not enjoying some of the tax write-offs that are that are possible through Home ownership here as well, but I hope people truly understand what I'm trying to do And I feel like I'm a little bit isolated on the stock side of it to where you know I'm playing a game right now Markets are at all-time highs. I get it. I really would love to diversify into more tangible assets But the timing for me right now, it's just not there It is just not there and it's not intriguing enough for me if I was in a down market like I bought into Detroit when The mortgage-backed security crisis and people thought I was crazy. I didn't have one person tell me This is a great move Ryan, you know, I picked up my house there for a hundred and forty thousand dollars And there wasn't one person that said Ryan, that's a good deal Right and it ended up being the most lucrative real estate deal that I did because I bought into the but but now is it Is it expected that we put through it fate to the wind here and put that kind of capital to risk? It's just could I do it? Yes I think it speaks more to my discipline and choosing not to do it at this particular juncture And that that's just where it rounds out right now. It's it's tough It's a very personable thing right I think I really like some of the the real estate channels out there that Like Ben Mal is super awesome and I think he always puts it into perspective too Like it's not a one answer fits all like I think a lot of people are like, oh, you have to own real estate You have to own it I'm like, you know, I didn't want to own like in 2019 before the pandemic when we were initially like me my fiance We're gonna move out like when I was ready and I'm like, let's go before I lost my job And my whole career rent the toilet during the pandemic like back then I could have rented a two-bed two bath for around 2500 a month and that's that was my mindset. I'm like, okay, like that's feasible. I don't want to own I'm not gonna put money into this crazy overpriced real estate market here forget it And then all of a sudden like, you know this last year rolls around we're ready to move out and rent is 3500 a month now for the same apartment I'm like that is an entire gross take-home pay after tax on somebody making over 50 grand a year I'm like, you know how nuts it is to pay 40 grand a year for rent I'm like, I'm not gonna do that. So we were thinking about moving to out of out of province to somewhere much cheaper And then just either renting or owning somewhere where it was cheap as hell But the problem was his family like we've gotten so old now that like we're super glad we didn't leave the province because we're So family oriented and I'm very thankful we didn't and after looking at like 30 properties and just running the math Like we actually found something fairly reasonable that was well within our price target and the first place we put an offer on We got it but if this place now cost to carry with our deposit even with the super high interest rate We're paying it like 5.8% like it's still I think 2,800 we're safe. No, no, it wasn't it's like 20 to 2,300. It was like a thousand less Like we're easily saving 1250 a year over renting and again the price goes down over time and where we've made like crazy extra payments already just to Lowering it so I mean like, you know Situation like that is better for us, but it's not better for everybody. Like, you know, I think owning is insane I'm like in Canada here. I'm like, I'm not gonna buy a house for a million bucks. If that was the case I believe I'm like, I'm just not doing it so Interesting that's a really interesting perspective. I live in one of those pocket markets here Manhattan lower Manhattan right now the conversion of old office space is alive and well And you're probably talking about two and a half million as a starter for around a thousand square feet of space That's that's you do get you do get two bedrooms with that Do not talk to me about three you get two Bedrooms and it starts at about two and a half million and those are all cash buyers that are stepping into those properties young couples No children that are stepping into those opportunities Rental rates are at all-time high in New York City So those rental rates absolutely back up the statistics that you're talking about Even in here in the fifth borough that I don't even want to admit that I live in Is is is around thirty two hundred probably on an average, but that's for a total dump I mean that's for a space That's for the honor to live here and have access to the city which this city bleeds money. There's no doubt about it I just so happen to be on the outside of that money not on the inside But I tell you what if you're it's same in Toronto, right? If you're on those enters. There's money there and It's great for those people that are in man because it is crazy the opportunity But you got to get out though too, right? Because I mean we figure we'll never sell once we pay it off We just rent it out and then if we want to go live somewhere the cash flow It'll produce is just way too ridiculous, but the problem is is like I don't think people do enough due diligence on like you're saying I think there's pockets everywhere because I mean if you look anywhere like Anywhere where we're currently living like you you're paying a million bucks for just about 800 square feet We got a quote on a new build 850 square feet $900,000 plus they wanted 60 extra thousand for parking by the time you're closed. I'm like I can't put a million into 800 square feet There's just no way right so I ended up ditching a realtor I was arguing with immensely because he realized we had more than we needed to put a deposit down So he's like why not just put the extra money in an account uses to float the property and see where you're at in a few years But I told them I I just in my mind. I would never be comfortable owning a million dollar property. I just wouldn't I'm like It's just far too much capital at this stage in my life So after getting rid of one realtor 30 properties later like we found a 30 year old building and we ended up getting 1,300 square feet for a hell of a lot less than a million dollars Outside the box. Yeah, and it's just and we love this place Like it is built for comfort is not built sick money like it's you know The HOA is a bit higher because we are paying like 950 a month, but at least it's all inclusive, right? So that's you know, we get security and stuff But at least it's all heat hydra water all that stuff But if that's the price we're paying but again, we're saving hundreds of thousands of dollars So it's like there's no amount of HOA, you know Yeah, New York has transitioned to an HOA you'd be hard-pressed to find a property now That isn't owned by a conglomerate that has has went ahead and wrote those bylaws in to to to capture those those homeownership fees Very difficult you can run a search in lower Manhattan and actually identify a few and I think they're being gobbled up For the most part you're gonna be in it for a pretty healthy HOA fee and we're talking thousands and thousands of dollars per month Yeah, it's based off square footage and whatever and all that stuff It's it's definitely a challenge and I feel bad for a lot of younger people But honestly like if you're young, I would just leave there's just no point to to be in these crazy overpriced cities Again, if it wasn't for our age and family be a whole different story We could have moved to Alberta semi-retired already But you know, it's not all about money like you said either right like, you know It's gonna cost us a bit more to live this lifestyle But you know to give up like I don't think there you could put a value on Like what we currently have with our family and I just I don't think like I think I would have regretted I mean we could have for what we paid for this property We could have owned like a three thousand square foot penthouse and I'll like Edmonton or something or you know Fully like beyond a nice like three-story finished basement home sort of a thing, but But honestly like I don't I don't think that value. I mean it'd be fun to make a YouTube video being like Hey guys, 31 semi-retired We can cash flow enough to pair like our basic bills But you know that that value is just not there for me You're probably more poised to make that move and have access to income because if nothing else You're defining a landscape where you can bring in income no matter where you are on the globe It doesn't have to be in Canada United States. It doesn't have to be abroad. It could be anywhere because we were right So that's a thing here in the United States is very fickle You know a lot if not the majority of the business is centered around our cities And you go rural here in the United States You can be careful because you're gonna be you're gonna be not around any activity And and you better have that connection to that money because yeah, you can you can own anything that you want But you kind of be where the action is and I think that's what's attracting a lot of our youth and beyond Suburbia here in the United States You'd be hard-pressed to drive through some of these cities and they look like ghost towns Kyle You got an old gas station that doesn't work anymore You got an old abandoned church and there's no people there anymore They've all left and they've all flocked to at least suburbia to upgrade and have a little more access to commuting distance to businesses. So if you want to get ahead, you know Yeah, it really depends on where you're at and what your things are when it comes to foreseeing when my mortgage will be paid off Honestly, this this is the hardest debate that I had mentally because at the end of the day like I Don't want a mortgage again. I understand leverage and utilizing debt. I believe in it. I'm not against it But just from like my own personal like stance. I'm more like Dave Ramsey. I don't agree with that Stance of like having all your debts paid off and no mortgage. I get where debt makes sense But for me personally like I hate having a mortgage and I would have just preferred to pay it off But then I realized the sad reality of I would have a lot less capital in the market And because we didn't fully pay it off the money we've had in the market has offered a way higher return than that 5.8% I mean we're up 20% since the money we put in at the lows of the market when it tanks So I mean that's the hard debate right is like finding that balance of we don't want to put it all in the property Because then we'd have you know, we'd stop some money, but not nothing like the returns We're seeing now. I mean the returns we're seeing now could get us to a million like net worth in the next year We're getting damn close just because we left that a size of capital in the market And my jaw honestly hit the floor when I run the map on like what our net worth is just from having no debt Just keeping some money in the market and just you know getting this property again It's combined to keep in mind like you know, we're I'm fortunate enough to be in that situation with with a Wifey so that it has a job So I mean it makes a significant difference on the cost of living for us and paying this stuff down But honestly, I figure we'll pay it off in the next three to five years is the goal I don't want to pay it off early because there's penalties, but when the renewal comes up like we're putting an extra 20 to 38,000 Year, I think we're allowed to put an extra 15% a year toward the mortgage of what we owed Which is a pretty big amount So we try and put 20 to 30 extra thousand a year on it and then by the time the renewal comes up I'm hoping the market is stayed as strong as it has and we see a greater return like all easily You know also because we have a good cash position to like I'll just take the rest of the cash We have I'll sell off a chunk of the portfolio and I'll just get rid of it because it's you know It's it's a decent size payment a month that like I just don't think is necessary for you know our stage in life Yeah, again very privileged to say that I know like you know, it's it's one of those things But we set ourselves up. I always wind back to that that conversation of the 10-year prison sentence Everyone's got to serve a 10-year prison sentence like you know, I did it. That's that's how I'm here I'm like I lived off nothing like I've been broke for real for real. Yeah, that's real talk That's a real talk for the audience man. There's a guy I just want to anecdotally this guy I think put a place point. Sorry. What's his name Dave Lee? I think I think awesome channel He's all about Tesla But I remember watching one of his videos where anecdotally was talking about how he grew up and he was joking with his wife Because he grew up in a place. I think somewhere in San Francisco I can't remember where but like he remembers getting up one morning and there was a roach on the end of his toothbrush And he said they like they didn't have proper heating They had to duct tape the windows and he's like I lived like that until I was like almost in my 30s He's like I wasn't like able to like buy a place or do anything But I'm like that's how you had to afford to get to where you are now though Most people don't have the privilege, but they want to live like they have the privilege I'm like, you know how much like I've had luck, but I've also sacrificed a lot Like I've never owned a new car. I've never like, you know I've given up so many luxuries It's ain't with the wife Like, you know, we were fine going to Costco to get a dollar fifty hot dog and drink for a date night like that That was fine for us. That's all you know, most people don't want to do that shit So they don't have that privilege to be in their 30s to be like, hey, like You know mortgage who cares this whatever but you know and again even now with the money we have We don't do stupid shit like we're not still still living the same lifestyle, right? But yeah That's that's the key I've been adhered to a lifestyle that I picked up in my early childhood I'm a very happy man and say, you know at 46 years old now a big key to my success has been able to quite frankly separate Really really separate and put my money on specific objectives and I would be going against those objectives. I You know if I if I surrendered just put up a white flag and said I'm gonna surrender on those It would be surrendering not the dollars It would be surrendering the plan and seeing that plan through and I I think I would feel more bad than Vendicated or or that I had won a race or or something like that. It it's just not about that for me That's as insightful as I can give and to you know, my mindset about about what you're talking about the hot dog at Costco A buck fifty. That's legit I Trust me we are is frugal. I don't want to say cheap because I think frugal is the better word Frugal and going through that it'll set you up to appreciate appreciate everything Morally brings you back down to earth right because I know some people that came into some some substantial wealth and they are not the same people I used to know and it's sad because they're not they're not simple like they're not people I could just go out and have a coffee a coffee with anymore and we talked about like how wealth changes you over time Especially substantial wealth because these people used to come over all the time and now they don't and anytime we hang out with them They're like they're doing really wealthy things and they're like because we have money They're like oh you should come with us and do this or when you're doing that or you're doing a cruise like invite Us we'd love to get an excuse to go out. I'm like why can't you just come over and chill like because I still hang out With the same friends. I went to high school with them You know, they're not as like lucky or you know has been in a situation, but I don't judge Yeah, like I still hang out with them, you know, they still live with their parents. They're in their thirties Like I have no like come like, you know, and not know I'm not I'm not judging them for it They're just friends. I'm like it's life like family and stuff, you know kind of I think you supersede that to some level if you're not careful when wealth kind of catches up to you but So I mean, you know, that's why I kind of appreciate some of these CEOs like Unfortunately as much as people hate him like Elon Musk, man I got to give a guy some credit because like That that dude lives in a way that I don't think people at his level like you look at Jeff Bezos and stuff Or even Zuckerberg in a way they're spending money and how they're trying to hide how they're spending it I know while, you know, Elon's pretty much an open book living, you know, a very unusual lifestyle again I that is not perfect, but I'm just saying Yeah It's friendship and wealth or friendship and family right like is the real wealth I mean that that's something that I So and it's another thing to write that I feel bad because I think most people's issues is their postal code Because I kind of put myself in a situation where I've realized that I have endless opportunity because the people that are around me Have a lot of opportunity and they're living in like higher-value postal codes And I've realized my life really changed when and I guess that's what they say Like you are the sum of the five people you hang out with because I feel like even if I lost all my work tomorrow Like I I joke with my one buddies like yeah If you ever want to come back like I could easily work three days a week and make substantial money with this guy Just doing you know what I used to do back in the day And you know same with other people I work through like oh if you ever want a job Like I feel like I have such an abundance of opportunity where a lot of people don't and sometimes it's also sad because you realize a lot of this Is just postal code related just like you know if you hang out with broke people You're not going to see the same opportunity as if you just have a few friends that and again not not hanging out with them Just because they're rich. I mean just because for sure family or nice people and you know They're just as chill and you can get that vibe off them It's great, but I realized what it's substantial difference that makes on the outcome of like your financial Freedom and future. It's kind of a well said an interesting reality, but Yeah, man, I don't family love you still hanging around You know yeah, yeah, ma'am. I'm still hanging around YouTube I guess I can find a small pocket of people that really appreciate the message and You know, I always say that the success I guess and it doesn't have to be generated by me That's why I like having guys like yourself and many of the others in the community come on and share stories It's it's not all about me. It's not all about you It's about collectively helping people I'm gonna do my thing no matter what and And you know, hopefully us conveying our thoughts about money and the psychology of money is what it really comes down to and A lot less about picking the perfect investment. It's how you deal with money It's how you enter the market prepared, you know, not realizing that your investments are not gonna be meta every single day And and unfortunately, that's the damnable misery is people get used to those returns And it's like well, I can just duplicate that over and over and over again. It's not possible Yeah, it's like Michael Burry, man. I love watching these people short stocks and get wrecked I'm like, it's it's one of my most memorable moments ever and investing was when I watched Kevin O'Leary and like when I was probably 23 or 24 suggest some stocks and I watched them get absolutely Devastated and it just hit me like a bag of bricks that like, you know, they never meet your idols I guess but I just I just immediately had that recognition that this guy doesn't know any more than I do He doesn't matter how much money I had the same game It's the same exact game and whether you got five bucks or five billion You have the same problem and you are gonna make the same mistakes And it's it's like you said, like there's no perfect portfolio There's no, you know perfect valued house for like it's just so it's again personal finance, right? Like it's so hard to direct somebody properly They just kind of got to make the mistakes and kind of go through everything that you've gone through and I've gone through and You know figure it out. But yeah, hopefully they find it in a way where it doesn't drag out or they do something detrimental Because the debt thing scares the shit out of me, man I'm glad that ensued on me early on because God yeah, I know people in their thirties that are 50 a hundred grand in student loan debt and it just breaks my heart I'm like you're so screwed like in this market You're gonna have like what I went through I thought was hard But what you're gonna have to go through is going to be ten times harder and it's just you almost cry inside It's so sad You do you do. Yeah, it's been it's been one of many very important liberating factors and Where I am financially Yeah, is is is eliminating that as early as I can and enjoying debt-free years and Stacking those debt-free years up on top of each other and I will never go back never that That scares me the most Kyle. That scares me the most. I'm not worried about a down market I'm not worried about owning a stock that goes down. I don't care about any of that out the pain. You've been there I've been there. It sucks man. I and sometimes what scares me the most is people who live in that and don't realize it and a lot of people Brand new cars man a lot of people get car debt a lot of people get all kinds of debt and I I'm telling you you can avoid it. You can buy cheap cash. I've done it my whole life I've never gotten a lemon get a good mechanic to check it out Don't tell me a new car is more reliable than one with a hundred thousand on it I've never owned a car with less than a hundred thousand Kilometers Never had a car below that and I they all lasted, you know three five years And you know when I haven't paid more than 10 grand for a car Canadian I mean that money that I've saved is an exponential, right? Like it's just little things like that that's little things actually go crazy Especially like you're saying like right now in the markets just perpetually I mean any time in the last decade if you just put a little bit of money in the market Like my god and then you start asking yourself like you like you're saying right like it's not just a thirty thousand dollar car It's not just a five dollar Starbucks. You go back over a decade and that one five dollar Starbucks was actually worth 30 bucks like 20 or 30 dollars all of a sudden right so like all of a sudden you start recognizing like You know these luxuries like a thirty thousand dollar car today is ten years ago is actually like a hundred thousand dollar car That's what you just gave away. It wasn't a thirty thousand dollar beater. You bought it was a six-figure Insanity like and I don't think people ever see it through that lens So they they're forever stuck in that not caring about debt right because like you you know I used to be you know I like 25 30 25 thousand dollars in debt and it took me three years to pay it off and oh my god The pain of that was the worst thing I ever went through but that that's what I had to happen to get me to Where I am. I mean that that debt was literally I said I would never do it again And you know, I wanted to find opportunity beyond that and all of the decisions that came from that debt really changed the outlook of where I'm at today So but hopefully people are through it. Hopefully they're listening to you They're listening to this. Hey, well, I tell you what I tell you what man, we're just getting into February here 2024 This is a stint in time here on a Friday live stream Kyle, but I want to thank you for taking the time I know it was a little more than you committed to but just enjoy the hell out of catching up with your man And wish you all the best in 2024 Open-door policy on the channel man, and we'll continue to monitor this deliberately going forward Good times going forward for sure man. Good luck to you and the misses. All right, and we'll talk to you soon All right, brother. He's at everyone. I'm on later later Yeah, very cool man. It's great to see Kyle Yeah, it's part of the why I why I do what I do so the community we were talking backstage about Why we do what we do and there's been some people here commenting a little bit on You know the fundamental aspect of the channel none of that stuff changes we continually sew those outs for people And share those fundamentals But I think the more you immerse yourself in the message of the channel and what we're trying to do here and How we carry ourselves I mean sitting back and listening to Kyle D Do you think for a second that he doesn't do those things that he shares on the channel? Look, I Come on to YouTube. I'm the same. I would rather just share what it is that I've worked in. I is it right wrong? I'm not not sure that there are some results there to be rendered now I'm not suggesting that people can't get Far and away better results by maybe taking a different path. This is just mine and you know what works for people and really trying to curb expectations because In a dynamic and ever-evolving stock market that we have right now accelerating in a path a pace that is just Alarming it really is I think it is incumbent upon investors who Do see the value in generating personal wealth And starting it as of yesterday I'm identifying the urgency That there is In saving capital whether or not you want to participate in the stock market or not. That's up to you. I don't care I share openly that I do that and that's just what I do and it's a major contributor to Where I'm sitting as far as approaching the six hundred thousand dollar mark I I I talked to kyle this evening about how quickly things can accelerate and for those that were steadfast in coming along and visiting the channel on the live stream You know that for the last couple of years I would come on and I would give Exactly what I thought was going on as far as a negative pulse There there wasn't a whole lot of you know trying to find a needle in a haystack through those markets Market conditions were just really really poor and coming off of what um what we incurred with inflation and the the impacts from higher than average inflation Which I think we're starting to obviously curb those now with the interest rates falling and Really kind of basing below four right now at the fed rate Which is which is a positive sign going forward. I think as long as it's carefully Deliberated upon whether or not it's prudent enough to start cutting those rates I cringed a little bit by the march discussions. I thought we know that's a couple months away. We don't need to You know, we don't need to march into that so fast. No pun intended We just need to monitor financial markets because I think there there will be some weakening especially in the real estate market And I think rightfully so I I look at realtor I monitor real real estate markets and I see a whole hell of a lot more price cuts than I do Price increases and I'm I'm not seeing a whole lot of inventory And I'm also not seeing a whole hell of a lot of buyers that are excited to jump in with both feet With a mortgage that's close to six over six percent. I just don't see it. I'm not one of them I hope I hope I'm right Maybe I'm not maybe everybody and their mother is is just throwing fate to the wind But I give people a little more benefit of the doubt in suggesting that there's probably a lot more Calculative buyers out there and they'll they'll wait they will wait because they know Then inevitably things have to kind of roll off and soften up a little bit, but in the meantime Markets are absolutely on fire And I'm slowly adding I I didn't get to mention, you know, kyle just Mentioned quickly the canadian banks and He he offers a lot of content on the canadian banks, but Canadian imperial is one of my favorites That I've actually got a buy order in and we'll we'll post on monday but 12 times Earnings with over a five percent yield on there. So we'll increase that position a little bit And and and those are the types of moves that I'm calculating Taking measure on To share with you guys is cool the interest rate Switch and the seeking of that on idle cash Not necessarily a hell I'm making more on the idle cash than I am on some of my dividend payers One of my accounts paying 4.99 percent. So you have to be kind of careful Introducing capital to risk when you've got a for sure thing there Um on the idle cash in the money market accounts that are held In a lot of these brokerage accounts. So hopefully you guys are looking at that and looking at it hard It was a lot for me to uproot a 25 year relationship with bank of america But man alive It was probably a long overdue move for me to move to fidelity and it's been nothing short of remarkable As far as my opinion on on this new broker and it's showing up in the green Because i'm i'm making some interest payments that have gotten my attention Whereas before I I was becoming Unfortunately used to getting paid zero On my idle cash and I think that was a really good positive move What we touched on the tech and and what's going on right now look you're not going to catch every Shooting star that's firing away from earth and invidia and meta just so happens to be I would Cautiously remind you and kyle talked about a little bit, you know when it dipped down to 90 I remember it as low as 120 It might have dipped down even further than that, but just they couldn't get out of their own way talking about how Um dysfunctional the company was and this was just a few short years ago And for those investors that held true on that You've been paid to hold true, but I I think on the other end of the spectrum We have to be careful looking at this meteoric rise In the stock price and take it for what it is. Look if you own the smp 500 Look at how much of the percentage of every dollar that you have In every share that you have of the smp 500 Is devoted to meta which is a top 10 holding the smp right you'd be um You know satisfied to know that you do own a pretty good piece of that that market and quite frankly I'll sit back and be a spectator in a market where the fab 7 is driving The tippy end of the spear What concerns me is the lack of performance from the other 493 stocks in the stock market and and that these earnings As good as they are are very very isolated to the top companies In the smp, but um, you know, we'll have to just Lift to fight another day and and we'll continue to monitor the markets as appropriate And and we'll continue to enjoy this rise because This never as bad as as as it seems and it's never as good as it seems I say that all the time and we're just in that it's never as good as it seems even though a lot of you guys are are probably Um, really excited to see some of the um performance in the market. We got michael in the house here. We'll welcome It's good stuff and mic j It's yeah, I could get out of its own way. That'd be awesome stay above a zero and avoid a delisting that'd be successful Now dad's in the house. Good evening to you my friend. Very cool Jared awesome to see a man Very cool Victor's asking about the Tacoma. How many miles you got on that? I got 30,000 and I just paid it off last month So i'm pretty happy about that, you know, that'll free up that that was a $450 payment and Unlike kyle that was that was my first new vehicle. I did take my old one. I traded it in I put a little cash down Financed a little stint when the interest rates were significantly lower than they are now and I'm glad I did now because I know myself and I do actually keep vehicles for a long long time and You know, it's one little luxury that I actually provide myself that You know, hey, you got to live a little bit. I guess right My god bless america. We're also fortunate to be able to invest in the american markets Yeah, I I take on this philosophy I I think it's dollars well spent In becoming a participant in some of our good companies kyle talked about our telecom companies In a little different light that i'm seeing i'm seeing some significant value in some of our telecom um speaking at&t verizon t-mobile American tower now those are some companies that I think they'll probably gain some favor here in 2024 Tough to say I say it on an island. You know, I could be wrong on that but hey, what's what's new I've actually bought comcast and verizon here pretty heavy beginning of this year on a fairly interesting dog theory of 2023 thinking that they're probably going to gain some favor In 2024, but I I totally agree with you in that sentiment. We are extremely lucky Um, yeah when lambo, I just got done explaining the Tacoma Matty so happy new year tia brother It's great to see a man and um all the best to you here in 2024 with the everything that you've got going on with your projects, man Thanks for being part of the community I appreciate you Again, michael's in the house very cool. I want to give everybody a shout out So the Tacoma looks good. Yeah, I hardly drive it. That's the problem It's a blessing in disguise. I guess when you've got the opportunity to live so close to uh to home I bought some most fargo. Very good I am the banks are looking pretty saucy here. They always look saucy very cool And we got most of these other questions and comments out of the way making sure Very cool stuff Dan needs these been with me a long long time. It's great to see you dan. Thanks for coming on. I appreciate it We're just cutting teeth here in new york man. I never a dull moment here. That's for sure which is um Most of most of what I spend my time doing need those rims on my forerunner Those were built for the fj cruiser and the forerunner. I say that in the video Um, the specs on it on ebay actually say that they will not fit my vehicle. That's wrong They do fit a tokoma, but they're not built for tokoma. They they are meant for the forerunner now I did opt for the 17 version There's some versions floating around to 16s. I certainly wouldn't opt for that because your forerunner is bigger than my tokoma But I like the 17s. They're they're nice They're they're big enough to where they get your attention, but they're not so overbearing that they You know slap you in the face, but uh, yeah, I really like them. I recommend them and the matte black is awesome Hit me up dm. I'll send you the link on where I found them. I got a really good deal They were 9 17 for a set of four so that that helps you a little bit That was going aimed at helping a lot of people try to understand What it is that I kind of put out there And making those purchases and I was about 98 percent sure that they were going to work and I was pleasantly surprised to To discover that they absolutely worked and just wanted to convey that Through youtube to anybody that was seeking out that information, but Awesome guys, we'll wrap it up and i'm going to give a last thanks to kyle for coming on independent investor channel He's one of my featured channels Let me kick over. I help him support his investments growing really well as all of my I was looking at my Feature channels list and matt money was in the group here and these guys are these guys are really really brilliant minds and beca and all the All the feature channels the independent investor channel are glad to support them They're part of the family here and part of the community and growing wealth Each and every day going forward man, uh toward an inevitable end And it's going to be an exciting uh end indeed So guys, I appreciate you tuning in fast to 60 minutes On youtube for sure. We'll be back with you next week. Have a great great weekend and we will catch you next week