We've got a question from Chase. He says, "What is a good age or stage in life to take the 'Know Your Number' course
? My wife and I are both 23 years old and we're DINKs, which is double income, no kids. We have about a $160,000 base salary, and we're saving about 35%, and we only have student loans as far as debt goes. So, early on in our wealth-building journey, some good stuff going on. When do you think it's the right time to start thinking about your number?"
"This is so interesting. If you go out to learn.moneyguy.com, you can see some of the stuff that we've built, some of the courses we've made available, some of the tools we've made available. It wasn't by accident, it wasn't by happenstance, because we wanted to build something that would help you on your financial journey, no matter where you were. And it was very intentional the way that we thought through this because we think, for anyone who's going to have a financial plan in place, you need to know where you are. Right? Where am I right now today? Well, that's why we have your net worth tool. You can go check out the net worth. Well, that will tell you where am I today? What is my starting point and how can I track that through time? Well, then the very next question you have to ask is, okay, if I know where I am today, where am I going? What's the goal? Well, that is a great time to go check out the 'Know Your Number' course
because it essentially decides what am I working towards? Hey, I want to live at this level of lifestyle, and I want to do it around this age, and I want to have these assumptions, and I'm saving this much. Am I ahead of the curve? Am I behind the curve? Do I not even know where the curve is? And then the third question answers, okay, how do I get there? If I know where I'm starting and know where I want to go, what are the steps that I want to take to get there? That's the financial order of operations
. Those are the steps that move you from where you are today to where you want to go. So, Brian, my answer to this question would be when should I do the 'Know Your Number' course
? It's probably when you find yourself asking the question, okay, where am I going? What's my goal? What's the thing that I'm looking for?"
"Yeah, I mean, I get excited for somebody like Chase because you're way ahead of the curve. The fact that you've got a great income, you're rocking and rolling. But it is one of those things where you're trying to figure out, okay, because there's the 'Get Wealthy Foundation' activities that's usually steps one through seven that you do, and then there's the 'Stay Wealthy' activities, and you have to balance all those with the goals. So, somebody like Chase, who's in their early 20s, married, has a great income, you're trying to figure out, you know, when can I actually enjoy some of what I've created, but I also don't want to shortchange the 'Get Wealthy' activities. I've got to build my foundation. And that's why I do love the 'Know Your Number' because you're going to be able to use this tool, not only the education of the course, but it's the tools. If you want to say, hey, how does inflation impact my decisions? How does it work if I want to retire at 50 or 55 or at least have the option? Because I was one of those people who thought I was going to retire at 50. You know, how does inflation impact you? You get to use it as a tool to essentially scatter-plot all the scenarios to really figure out and chart your course. This is what I love about the 'Abundance Cycle' is that we're going to give you all the tools because I don't think everybody should hire a financial advisor right out of the gate because there's so much free content. We've been creating it for going on 20 years now. Just come take on the free stuff. Just let us love on you, give you all the free stuff, use the free resources at moneyguy.com/resources. Use all that stuff. But you will get to a point. This is why I love the 'Abundance Cycle' because we're going to give you all the things to accelerate it, but you will get to the point where you just don't know what you don't know. And Chase, I don't think you're there yet, but I think with the 'Know Your Number,' you will be. Just to kind of know because you're still at that simple part of the wealth-building where you just point me, wind me up, point me in the direction. I have a great income. My shovel's right. My relationship's right. My mindset's right. So just wind me up, let me go. The 'Know Your Number' is going to let you know how much so then you can set it and forget it. But you will now know that there's going to be another checkpoint where your life is going to get downright complicated from success. And that's where you'll hit that 'Abundance Cycle' next. Take the relationship to the next level. We'll be there to be your co-pilot, to be your CFO."
"People always amaze because, look, financial advisors, here's the dirty little secret of our industry: they work with old people. They do. Go look at them all. When we do Fidelity's Benchmark study, when they compare us to other financial advisory firms, they're all hanging out with the Boomers. And then they come and get our stats, and they always come to us, like, 'Man, your clients are young.' And we're like, 'Yeah, because we have some beasts out there who are making great incomes, made good decisions.' Chase, you're going to be one of them, I can sense it. So when people ask, when we do our Benchmark study and they say, 'How do you have 32-year-olds who already have this much money and make this much?' I'm like, because we've been loving on them since they came out of college in their 20s. That is the 'Abundance Cycle.' The cup overfills for abundance for everyone, and I love, Chase, that we've given you all the resources to do this right. Like I said, keep letting us wind you up, point you in the right direction. Go out there and look at the 'Know Your Number
.' Just because it's going to tell you if you're saving enough or if you need to slam on more, or even if you can now live in abundance and start doing some of those Step 8 abundance goals. It's all going to be helpful, but I'm excited that in a few years, I know you're going to reach that level of complexity, and you'll be part of the family."