August 6, 2025 • 24 mins
Your income and investment returns matter—but nothing predicts your financial freedom more than your savings rate. Yet, most Americans save only 3–5% of their income, a level that almost guarantees they’ll have to work far longer than they’d like.
In this episode, Jess & Brandon reveal why your savings rate is the true driver of wealth and how it works regardless of income level. They share real examples of modest earners who retired as millionaires—and why high-income professionals often fall behind due to lifestyle inflation.
You’ll discover:
- How to calculate your personal savings rate
- The percentage you need to hit for retirement security and early financial independence
- Practical steps to increase your savings without feeling restricted
- How to set up automation so you save consistently and effortlessly
They’ll also challenge you with a simple, two-step plan to make saving non-negotiable and start shaping the future you actually want.
Watch this episode in video form on YouTube
To apply to be a guest on the show
You can email us at: thesugardaddypodcast@gmail.com
Be sure to connect with us on socials @thesugardaddypodcast we are most active on Instagram
Learn more about Brandon and schedule a free 30-minute introductory call with him
Please remember to subscribe, rate, and review.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
In today's episode we talk about the number one,
number that determines whethersomeone is headed towards
financial freedom or livingpaycheck to paycheck.
What do you think that numberis?
Tune in and find out, hey babe.
Speaker 2 (00:24):
What are we talking about today?
Speaker 1 (00:26):
Today we are talking about the one number that is
really important in predictingyour financial future.
Speaker 2 (00:35):
You're going to tell what it is.
Speaker 1 (00:36):
I didn't know if you wanted to tell them.
Speaker 2 (00:38):
Oh, okay, I can do that.
Yes, so that is your savingsrate, and your savings rate is
how much you are saving on amonthly or annual basis.
So what percentage of yourincome are you actually saving?
Now, that includes money that'sgoing into, you know, say, your
emergency fund, your 401k plan,iras, brokerage accounts.
All those count as your savingsrate, but how much are you
(01:01):
actually saving on an annualbasis of your income?
Speaker 1 (01:05):
How many people do you think know what they are
actually saving?
Speaker 2 (01:09):
Majority of people do not.
Speaker 1 (01:10):
Right.
Speaker 2 (01:13):
It's like a majority of people don't know anything
about their finances.
They're just kind of living dayto day and that's just the
reality, which is crazy.
Speaker 1 (01:18):
When you say it like that, I mean the amount of
people, even guests, that we'vehad on the podcast that also
through their work, whetherthey're financial therapists,
counsel, like all sorts ofpeople, coaches, who confirm
what you've been saying allalong, which is people don't
know their paycheck, they don'tknow how much they make.
Speaker 2 (01:36):
So you're going to W2 people who have a set amount.
Speaker 1 (01:40):
Right, you make it every two weeks on the 15th and
the 30th, or biweekly, orwhatever it is.
It's like how do you not knowwhat you're making?
I don't understand, like, whydo you go to work?
Speaker 2 (01:49):
Unfortunately.
Like I mean, I'm not trying tomake excuses, because I think
people need to make time forthis, regardless of what your
situation is, but you have a lotof things that are, you know,
just trying to get by day to day.
Yeah, a lot of people are justtrying to get by day to day.
A lot of people are just tryingto get by day to day Surviving
yes.
So them sitting down and doingthis seems, in their mind,
pointless.
Speaker 1 (02:09):
When, in all honesty, sitting down and doing this
could be the difference on yougetting ahead, Right.
Well, and the average Americansavings rate is three to 5%,
which is better than nothing.
Percent, which is better thannothing, but it's not great.
What do you say to that?
Speaker 2 (02:35):
Well, I say, first you know, looking at what your
savings rate is, regardless ofwhat that number is, you need to
know what it is, and if you areat least saving three to five
percent, I am never going tolook down on you in that
scenario, because you're atleast saving something.
Speaker 1 (02:45):
Yeah, you're planning for something, You're saving
something.
Speaker 2 (02:47):
You're not at zero, and that is to be applauded.
You know that you are at leastsaving something Now.
With that being said, though,we do have to have realistic
goals of where we want to get to.
You know, because saving 3% to5% of your income unfortunately
is not going to get you towardsfinancial independence or
becoming work optional.
No, and that's just the reality.
Speaker 1 (03:07):
Right, I think too and we've said this on so many
of our episodes automating thatsavings right, if it's whatever
is going from a percentagestandpoint into a high yield
savings account for youremergency fund or your sinking
fund, and then also, of course,any kind of brokerage accounts,
401ks, et cetera.
(03:28):
I mean, I know that the onlyreason my 401k is the way it is
and it definitely could still bebetter, but it's because it
automatically comes out.
I'm not manually doingsomething, because if you
manually do it, guess what?
You're probably not going to doit.
Speaker 2 (03:45):
That's an intentional structure for a 401k plan.
Yeah, and that is wonderful,grateful for it Potential and
plan that automating it has ahigher probability of people you
know actually following throughwith the contributions.
Speaker 1 (03:56):
Because if you don't see it, then it's gone right,
like if it comes out of yourpaycheck and this is a call out.
We've said this before as well.
A lot of employers will allowyou to split your paycheck to go
into different accounts, and soyou can, of course, you have,
you know, your 401k hopefullycoming out, or 403b whatever
your retirement is through youremployer, and then you can also
(04:19):
have, even if it's 20, 30, $40going into a separate account
from your paycheck that maybe isfiltering into that high-yield
savings.
Again, if you don't see it inyour bank account and you don't
know it exists, but it'sstacking up on the side, that is
the optimal scenario, becauseif it's not in your face, you
don't want it, you don't miss it, there's nothing to miss, it's
(04:41):
already taken care of.
Speaker 2 (04:52):
I can tell you from my years of working in financial
services that savings rate isthe number one indicator of
success.
All right, real quick.
I want to speak to the personlistening who feels like they
can't work with a financialplanner yet because they're
carrying a lot of debt.
First of all, I see you and Ineed you to know you're not
broken, you're not behind.
You're just in a tough season.
I created something just foryou because I've had people
(05:12):
reach out who are serious aboutchanging their money story.
But the full financial planningpackage just wasn't the right
fit yet.
So I built a new servicethrough Oak City Financial
that's focused completely ondebt reduction.
No fluff, no shame.
You'll get a one-time planningsession, a personalized payoff
strategy, your own financialdashboard and monthly coaching.
If you want extra support whileyou climb out, it's $300 to get
(05:36):
started and $100 a month.
If you want that ongoingguidance, that's it.
This is about helping you getunstuck, not making you feel
like you failed.
If this sounds like what you'vebeen needing, go ahead and
schedule a call with me.
The link is in the show notes.
Let's take the first steptogether.
Speaker 1 (05:55):
Well, and you say that a lot too with your clients
that it's not how much you make, right?
Speaker 2 (05:59):
It's how much you save, because I've sat down with
people that have a great incomebut they're not saving anything
, or they're saving very littlebut they're not saving anything,
or they're saving very littleas compared to someone that
maybe their income is not ashigh as they would like or, you
know, as somebody would deem agood income, but they have a
high savings rate.
You're gonna have a lot moresuccess than the person who has?
(06:19):
maybe making three or four timesas much as you, but they're not
saving anything what do youthink is the difference there?
Speaker 1 (06:25):
like, if you're thinking about, you know a lot
of and when I say a lot I don'thave a percentage but teachers
right, teachers we knowhistorically in the US don't
make very much, but there areteachers who are retiring
millionaires.
They are good with their money,they are saving, maybe they
have a side hustle in the summeror on the side in general.
(06:47):
But like, what do you thinkwhat's the difference?
Because everybody can make anexcuse Like life is expensive.
Speaker 2 (06:55):
I would say one Going into being a teacher.
You already know you're notgoing to make a lot of money.
You know, that from the get-go,you're not going into this
career to make a lot of money,as compared to other people
choosing certain careers wheretheir goal is to make money.
They might not be making moneynow, but they're always like I'm
in a career where I can makemoney.
Speaker 1 (07:11):
Right.
Speaker 2 (07:12):
That's not a teacher's thought process at all
.
Speaker 1 (07:14):
Yeah.
Speaker 2 (07:14):
They're in a career where they know, like I'm, doing
this for the passion and thelove of teaching, not for making
money.
Now also, I would say goodteachers are organized.
Speaker 1 (07:23):
That's true.
Speaker 2 (07:33):
You are an organized person because you and you can't
be a good teacher and not beorganized.
It's impossible, because yourclassroom is just going to be in
chaos.
Yeah, part of financialplanning is organization, so it
pairs very well.
But then also um, how some ofthe like you know 403bs and you
know retirement plans forteachers are set up.
It also is helpful the way thattheirs are structured what do
you mean by that?
um, so some of them have arequired minimum that you have
to contribute oh itautomatically comes out, and you
(07:56):
know that's a t-shirt yeah thatyou had a amount that
automatically was going to comeout.
Speaker 1 (07:58):
You didn't even have the option which was good,
because I definitely was notcontributing above and beyond
whatever they were taking butthe amount that was coming out.
Speaker 2 (08:07):
You didn't have an option, it was already coming
right or, as compared comparedto with, you know, most
corporate America jobs, youcould shut off your 401k plan
and not contribute at all.
Speaker 1 (08:15):
Yeah, that's true.
I think, too, one thing that Iwas thinking about just in
talking about teachers ingeneral and we've talked about
this is that lifestyle creepwhich, if you're working at the
you know, in the corporate techmaybe kind of world, which is
where I am there's a lot of thatlike you got to look good, you
got to drive the fancy car, yougot to fly business, you got to
(08:35):
do these things right To like,keep up appearances, keep up
with the Joneses.
Nobody's telling you to do thisright.
This is totally things thatpeople have in their in their
heads.
But like, yeah, you do want tolook nice when you go to
conferences or when you're goingto business meetings, I think
there's a difference.
When you're in that teachingfield, it's like no, we're all
(08:58):
broke, we're all making it.
It's like there's not that airof I need to look a certain way
or I need to drive a certain car.
I think that that I mean howand where you work I think feeds
into your lifestyle.
Speaker 2 (09:13):
Also too, like as a teacher, if you start to have
nice things, people start towonder like what are you?
Speaker 1 (09:17):
doing?
What are you doing?
Speaker 2 (09:21):
I remember when I was in fourth grade we had a
teacher that drove like she wasa little bit older but she drove
a Corvette like a newerCorvette, but her husband had a
great job and whatnot.
And I'm going to also use I'm adate myself here, but any of
you guys that watched, uh, themovie varsity blues back in the
day there was a teacher who hada really nice car, stuff like
that, and they're like what doesthis teacher do?
And then there's a scene wherethey go to a strip club and they
(09:42):
find out their teacher stripson the side.
Speaker 1 (09:46):
Oh no, my gosh.
Okay Well, hopefully that's notthe case.
No judgment, okay Well, but youknow what I mean.
Like there is that air, or eventhink about people in the
medical field, like sure, duringthe day you're wearing scrubs
and like you're unassuming, butthen it's okay.
Well, I have to have the bighouse and I have to have the
(10:07):
nice car and I've got to looklike a doctor, whatever that
means, or you mean specificallydoctors yes, doctors, lawyers,
right, no.
But you know what I mean.
Like there is that again, thatsocietal pressure, whether it's
in our head or in our circle,where you just depending on who
who's in your crew, and like whoyou run with, like are you just
(10:28):
keeping up with the Joneses?
Yeah, you know.
So there's something there too.
Speaker 2 (10:34):
So one thing we should also explain to you is
how do you actually calculateyour savings rate?
Speaker 1 (10:40):
Yeah, perfect, let's get into that.
Speaker 2 (10:41):
So there's two different ways you could do it,
because you can either do likeyour gross savings rate or your
net savings rate, and thedifference between that is gross
is your paycheck, obviouslybefore taxes are taken out, and
net is after taxes are taken out.
It's what you take home.
I think you should do it basedoff of your net, because that's
ultimately what you have.
What you actually have.
Speaker 1 (11:02):
Yeah, I know, and the gross, if that number is great
then your net is not because youhave all this stuff coming out.
Speaker 2 (11:10):
The hard part there is that, for example, if you're
doing pre-tax contributions.
Oh I see it's taken out.
Prior to taxation yeah, yeah,but I think the easiest way for
most people is just through thenet.
So, for example, if you make$1,000 a month and you're saving
$100 of it, so that's 10%.
Speaker 1 (11:31):
Yeah.
Speaker 2 (11:32):
So that's all you're doing, is you're dividing how
much you're saving divided byyour take-home pay.
Speaker 1 (11:38):
Okay, I mean that's, but I think too, don't you?
I mean taking a step back,going back to budgeting, knowing
your numbers, knowing yourcashflow.
If people don't know how muchthey're making and bringing home
, they also, then, assuming,don't know what their monthly
bills are and like what'sactually left.
You know whether you're doinglike whatever the?
(11:59):
Uh, the 20% of your income isfor fun, 10% is for savings, 50%
is for whatever way that you'rebudgeting, right?
If you don't know what yourincome is, you probably don't
have a budget in.
You're budgeting, right.
If you don't know what yourincome is, you probably don't
have a budget in place.
And then you don't know whatyour savings rate is or could be
, because you're just kind oflike willy nilly, just surviving
.
Speaker 2 (12:20):
Yeah, Like I said, savings rate is the number one
indicator of any type of success.
So, for example, if I know aclient's making a lot of money
like a new prospect, they'remaking a lot of money.
That doesn't get me jazzed.
Speaker 1 (12:30):
Doesn't do anything for you Once I look through
their information and they'regreat savers.
Speaker 2 (12:35):
I already see that they have a high savings rate,
and by high savings rate I'mtalking at least 15% or higher.
I'm like yes, because that'sthe hardest thing to get people
to understand and do.
It is a habit and it'ssomething you have to learn.
How to do is be accustomed tosaving a certain amount each
month, each paycheck, whateverit may be.
And if that person really hasthat muscle memory built in for
(12:58):
that, there's so much easier towork with.
Speaker 1 (13:00):
You heard it here first, friends, what gets
Brandon jazzed?
A savings rate of 15% or more.
A savings rate of 15% or more.
Speaker 2 (13:08):
I'm just saying that what comes with a good savings
rate also eliminates othernegative things from your
finances.
Normally you don't have a highsavings rate and a lot of debt.
That's true, because a lot ofdebt comes into play because
you're overspending, you don'thave enough money to pay for
something.
So, if you have a good savingsrate, for example, you built up
(13:28):
that emergency fund.
So when you have an emergencyyou have money to pay for that
emergency and you don't go intodebt.
So it just makes your overallfinancial situation easier.
And then, like you said, ifyou're wanting to work and to
become work optional, what's thebest way to become work
optional?
Have a higher savings rate.
Speaker 1 (13:43):
Yeah, how do you propose, like, what are the
steps?
If people listening and they'relike man, I know I'm
contributing to my 401k.
Maybe I do or don't know mypercentage.
Speaker 2 (13:54):
You should look at that first.
Speaker 1 (13:56):
And then I want to do something more.
I want to start contributingmore to my high yield savings
account, or like, what are thesteps that people can take to
actually do that?
Because, again, a lot of thethings that we talk about, it's
simple but it's not easy, right?
Like it's not?
Speaker 2 (14:12):
easy for people to do Exactly, and it all comes back
down to cashflow.
Like I said, I don'tnecessarily like to use the word
budget, but it's the one thatmost people are familiar with is
that you have to create someform of a budget in you know,
understanding what your cashflowis.
How much money do you havecoming in, how much do you have
going out?
Where's it going?
And then, do you have anyadditional money that you could
(14:34):
free up to put towards your 401kplan, to put towards your
savings?
That's the first thing how muchmoney is coming in, how much
money is going out?
Do I have any excess money thatI can put towards the benefit
me?
Speaker 1 (14:45):
Right.
Speaker 2 (14:45):
That's the first step .
Now, once you've looked throughyour finances and you say like,
hey, I have an additional $200that I could free up, where does
it make sense?
To put it, you know, do youalready have your emergency fund
built or do you need to work onthat?
Are you already, you know,contributing to your 401k plan,
where you're at least takingadvantage of your employer match
(15:06):
?
If you're not taking, you know,if you're not taking full
advantage of your employer match, maybe it might make sense to
increase your contributionsthere.
So at least you're getting thatquote unquote free money.
Or maybe it makes sense that ifyou don't have the amount, you
don't have six months of anemergency fund, or you know
eight months of an emergencyfund maybe it makes sense to
start putting money towards thatin order to increase in order
(15:27):
to increase the balance of thataccount.
So there's no right way, oneright way where to put the money
.
It's all based upon yoursituation.
But it's all going to start offwith understanding where your
money is going and then makingdecisions on how you want to
spend your money that bestreflects how you want to live
your life and, if you'respending money in places that
(15:49):
doesn't best reflect how youwant to spend your life, cutting
back on those to free up thatmoney to put other places that
is more beneficial to you.
Speaker 1 (15:55):
Yeah, I think too.
One of the things that I thinkis important and adds value over
time is not feeling like youhave to do it all at once, like
you can't jump from 3% to 10%,but maybe you can jump from 3%
to 5%.
And then in December, you know,maybe you add 2%, because if
(16:16):
you do it slowly, what's, what'san additional 2% of a hundred
dollars?
Right, like it's not gonna,you're not going to feel it,
you're not going to miss out onsomething because you added 2%
to wouldn't be 2% of be 2% of$100.
Speaker 2 (16:29):
It would be 2% of your.
Speaker 1 (16:30):
Whatever, yeah, but you know what I'm saying.
If you do it slowly yes, alwaysdo it slowly Don't do like
these big, oh, I'm going to do20% right off the bat You're
going to be like wait, where didall my money go?
Yeah.
Speaker 2 (16:42):
If you sit down and you have currently a a savings
rate of 3%, like you just said,don't try to jump to 20%.
Speaker 1 (16:48):
That's unrealistic Right?
That's crazy.
Speaker 2 (16:49):
You are just setting yourself up for failure.
Crazy sauce Do 5%.
See how that's working for afew months.
Speaker 1 (16:55):
Yeah.
Speaker 2 (16:55):
And if you're increased from 3% to 5% over a
few months, you don't feel it.
Speaker 1 (16:59):
You feel fine maybe up to 6%.
Speaker 2 (17:01):
Yeah, Maybe up to 7% should be this big jump because
it's not sustainable.
It's not realistic and also,like you want to have some, like
you know, better ideas.
As far as like benchmarks youshould be working for, yeah,
ideally 10 should be yourminimum and that's just for,
like covering emergency savings,I mean minimum to maybe have
(17:22):
some stability in your life now,um, if you're, you know, being,
you know, solid and on a goodtrack 15% to 20%.
Speaker 1 (17:31):
Which sounds like a lot because, again, most people
are living paycheck to paycheckand life is so expensive.
Speaker 2 (17:37):
I don't want to discount that either.
Speaker 1 (17:38):
Yeah, that's a reality.
Speaker 2 (17:40):
It's all based upon your own individual situation.
So, if you are in a hardsituation, you're in a hard
period of life then you justneed to figure out some things
on your day to day basis, andmaybe this should not be a focus
at this moment in time.
Speaker 1 (17:55):
Right.
Speaker 2 (17:55):
But this is not to shame anybody, but these are
just the numbers that, from astatistical standpoint, if
you're doing these things, itleads to a higher, it leads to a
better outcome that you'll beable to retire one day.
Become work optional.
Speaker 1 (18:09):
And most people aren't saving anything yeah.
Speaker 2 (18:11):
So if you want to fast track it, 30 plus percent
30 plus percent, yeah, andthat's more or less than,
honestly, when you hear thosepeople that are in fire, which
is financial independence,retire early, those are the
people that are doing, you know,30% and more.
I have my own feelings aboutthat to each of their own.
Do whatever you want to do.
For most people, that's justnot realistic, especially for, I
would say, our demographic,because if you already have kids
(18:32):
, you're starting to put away40% of your income, especially
depending on where you live.
Speaker 1 (18:40):
That's almost unrealistic in this day and age.
And how are you living?
You still want to live life.
We still want to live life.
Speaker 2 (18:54):
I agree, and a lot of people are very lean and
honestly doing all the thingsthey do now.
But, like I said, to each theirown.
But the idea here is have aconversation so that you have a
starting point of understanding.
Hey, I do need to understandwhat my savings?
Rate is, I do need tounderstand hey, if I'm not
contributing, I'm saving as muchas I would like to.
What are some of the thingsthat I need to do in order to
get there?
Speaker 1 (19:08):
I think another thing and I just had this
conversation with a friend ofmine is saving is an expense.
Speaker 2 (19:15):
Yes.
Speaker 1 (19:16):
You know, and you really do need to think of it
like that.
It's not optional.
Speaker 2 (19:19):
When I work with clients, I don't consider it an
option.
Speaker 1 (19:21):
Yeah, it is a line item.
Speaker 2 (19:22):
Even if it's only 3% or 4%, it is.
Speaker 1 (19:25):
It is there, it is a line item and it is an expense,
just like your mortgage, justlike your cell phone bill, just
like Sorry, you saveintentionally.
Speaker 2 (19:34):
You don't save what's left.
Speaker 1 (19:39):
Well, and that's what I was going to feed into is pay
yourself first.
Wealthy people pay themselvesfirst in their savings, in their
retirements, in their brokerageaccounts, all those things.
It is an expense for them thatthey put into their budget and
then what is left they spend.
So once you've covered all yourbills, which includes saving
and your retirement, then youcan go to dinner, then you can
(20:00):
book the vacation, then you canupgrade your flights, then you
can do the kitchen remodel.
It is an expense.
Speaker 2 (20:06):
Yes, let's say, people who set it up for
automating and do it at thebeginning of the month are
significantly more successfulthan those who try like oh you
know, I'll do it at the end ofthe month.
Never works, doesn't happen.
Speaker 1 (20:19):
No, and I can say for myself if I don't automate, it
doesn't happen.
And it's not because I don'tthink it's important, it's not
because I don't want to, but I.
It's not because I don't thinkit's important, it's not because
I don't want to, but I mean youlook up and you're in the
middle of the month, right, andthen you have extra expenses
that you weren't expecting.
Things happen, life is lifing,you get busy and then you look
up, it's the end of the monthand what did you put away?
(20:41):
Nothing, and you can alwaysfind something to spend your
money on, like without a problem.
But if you don't set aside yoursavings, it will go away.
It will not be there at the endof the month, and we all know
that.
So stop playing yourself andpay yourself first, because that
(21:02):
is what wealthy people do theypay themselves first.
Speaker 2 (21:05):
And the idea behind this conversation.
Once again all comes back tothe planning aspect and being
aware when are you today, whatis going on in your financial
life, where do you want to beand what steps do you need to
take in order to get there?
That is always going to be thefoundation of pretty much
anything that we're talkingabout, because, like you said,
people are going to work dayafter day, working 40 plus hours
(21:28):
a week.
And what are you doing for?
Speaker 1 (21:31):
You don't even know the numbers at the end of the
paycheck coming into your bankaccount.
Speaker 2 (21:35):
Obviously we've got to bring in money to live and
take care of our family andthings of that nature, but
hopefully you have a bigger goalthat you want to achieve than
just that.
Speaker 1 (21:43):
Right.
Speaker 2 (21:44):
And if you don't listen to our podcast so that
you can get yourself in themindset and learn some tools to
do that?
Speaker 1 (21:49):
Absolutely so.
If you do not know your currentsavings rate, take a moment
today, tomorrow, this weekend,and figure that out.
Figure out what you'recontributing to your retirement
account through your employer,what's going into your savings,
your cash flow, and again, ifyou need help, we are not just a
podcast with free information.
This is what Brandon does for aliving.
(22:13):
This is what he does with hisclients every single day.
So reach out, book a freeconsult, see if the vibe is
right, cause you really do haveto have a great relationship
with your financial advisor.
Speaker 2 (22:25):
And I'm being honest, I have to also like you too,
like I'm just being real, likeit's true, I don't want to ever
you know, dread like oh man, Ihave to meet with this client
today.
Like no, I all my clients Igenuinely like so yeah, that's a
benefit to you being anentrepreneur.
Speaker 1 (22:41):
Yeah, but reach out, have the conversation, um, and
get started.
Don't just keep putting thisoff.
You know, you are.
We're in the middle of the yearby the time we look up.
It's going to be, you know, endof year again, and then we're
going to look back and say, ohmy gosh, where did the year go?
Speaker 2 (22:58):
Let's issue a two-part challenge First,
figuring out what your savingsrate is, what it currently is,
and if it's not, in that youknow 20% or above area, try to
increase it one or 2% over thenext few months.
Speaker 1 (23:15):
Okay, oh, so the first part is find out what your
savings rate is.
Okay, I was waiting for parttwo.
Okay, what is your savings rate?
And then increase it by a fewpercentages percentage points,
okay, perfect.
All right, you know what to do.
Go forth, get your financesright, look at your numbers,
understand them and reach outfor help.
You do not have to go at italone.
(23:39):
We hope this was a fun andinformative episode.
Share it with a friend andwe'll talk to you soon.
Don't forget, benjamin Franklinsaid an investment in knowledge
pays the best interest, youjust got paid Until next time.
Thanks for listening to today'sepisode.
(24:00):
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community.
If you learned something today,please remember to subscribe,
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Don't forget to connect with uson social media at the sugar
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(24:22):
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Speaker 2 (24:27):
Our content is intended to be used, and must be
used, for informationalpurposes only.
It is very important to do yourown analysis before making any
investment based upon your ownpersonal circumstances.
You should take independentfinancial advice from a licensed
professional in connection with, or independently research and
verify any information you findin our podcast in which you rely
upon, whether for the purposeof making an investment decision
or otherwise.
In today's episode we talk about the number one,
number that determines whethersomeone is headed towards
financial freedom or livingpaycheck to paycheck.
What do you think that numberis?
Tune in and find out, hey babe.
Speaker 2 (00:24):
What are we talking about today?
Speaker 1 (00:26):
Today we are talking about the one number that is
really important in predictingyour financial future.
Speaker 2 (00:35):
You're going to tell what it is.
Speaker 1 (00:36):
I didn't know if you wanted to tell them.
Speaker 2 (00:38):
Oh, okay, I can do that.
Yes, so that is your savingsrate, and your savings rate is
how much you are saving on amonthly or annual basis.
So what percentage of yourincome are you actually saving?
Now, that includes money that'sgoing into, you know, say, your
emergency fund, your 401k plan,iras, brokerage accounts.
All those count as your savingsrate, but how much are you
(01:01):
actually saving on an annualbasis of your income?
Speaker 1 (01:05):
How many people do you think know what they are
actually saving?
Speaker 2 (01:09):
Majority of people do not.
Speaker 1 (01:10):
Right.
Speaker 2 (01:13):
It's like a majority of people don't know anything
about their finances.
They're just kind of living dayto day and that's just the
reality, which is crazy.
Speaker 1 (01:18):
When you say it like that, I mean the amount of
people, even guests, that we'vehad on the podcast that also
through their work, whetherthey're financial therapists,
counsel, like all sorts ofpeople, coaches, who confirm
what you've been saying allalong, which is people don't
know their paycheck, they don'tknow how much they make.
Speaker 2 (01:36):
So you're going to W2 people who have a set amount.
Speaker 1 (01:40):
Right, you make it every two weeks on the 15th and
the 30th, or biweekly, orwhatever it is.
It's like how do you not knowwhat you're making?
I don't understand, like, whydo you go to work?
Speaker 2 (01:49):
Unfortunately.
Like I mean, I'm not trying tomake excuses, because I think
people need to make time forthis, regardless of what your
situation is, but you have a lotof things that are, you know,
just trying to get by day to day.
Yeah, a lot of people are justtrying to get by day to day.
A lot of people are just tryingto get by day to day Surviving
yes.
So them sitting down and doingthis seems, in their mind,
pointless.
Speaker 1 (02:09):
When, in all honesty, sitting down and doing this
could be the difference on yougetting ahead, Right.
Well, and the average Americansavings rate is three to 5%,
which is better than nothing.
Percent, which is better thannothing, but it's not great.
What do you say to that?
Speaker 2 (02:35):
Well, I say, first you know, looking at what your
savings rate is, regardless ofwhat that number is, you need to
know what it is, and if you areat least saving three to five
percent, I am never going tolook down on you in that
scenario, because you're atleast saving something.
Speaker 1 (02:45):
Yeah, you're planning for something, You're saving
something.
Speaker 2 (02:47):
You're not at zero, and that is to be applauded.
You know that you are at leastsaving something Now.
With that being said, though,we do have to have realistic
goals of where we want to get to.
You know, because saving 3% to5% of your income unfortunately
is not going to get you towardsfinancial independence or
becoming work optional.
No, and that's just the reality.
Speaker 1 (03:07):
Right, I think too and we've said this on so many
of our episodes automating thatsavings right, if it's whatever
is going from a percentagestandpoint into a high yield
savings account for youremergency fund or your sinking
fund, and then also, of course,any kind of brokerage accounts,
401ks, et cetera.
(03:28):
I mean, I know that the onlyreason my 401k is the way it is
and it definitely could still bebetter, but it's because it
automatically comes out.
I'm not manually doingsomething, because if you
manually do it, guess what?
You're probably not going to doit.
Speaker 2 (03:45):
That's an intentional structure for a 401k plan.
Yeah, and that is wonderful,grateful for it Potential and
plan that automating it has ahigher probability of people you
know actually following throughwith the contributions.
Speaker 1 (03:56):
Because if you don't see it, then it's gone right,
like if it comes out of yourpaycheck and this is a call out.
We've said this before as well.
A lot of employers will allowyou to split your paycheck to go
into different accounts, and soyou can, of course, you have,
you know, your 401k hopefullycoming out, or 403b whatever
your retirement is through youremployer, and then you can also
(04:19):
have, even if it's 20, 30, $40going into a separate account
from your paycheck that maybe isfiltering into that high-yield
savings.
Again, if you don't see it inyour bank account and you don't
know it exists, but it'sstacking up on the side, that is
the optimal scenario, becauseif it's not in your face, you
don't want it, you don't miss it, there's nothing to miss, it's
(04:41):
already taken care of.
Speaker 2 (04:52):
I can tell you from my years of working in financial
services that savings rate isthe number one indicator of
success.
All right, real quick.
I want to speak to the personlistening who feels like they
can't work with a financialplanner yet because they're
carrying a lot of debt.
First of all, I see you and Ineed you to know you're not
broken, you're not behind.
You're just in a tough season.
I created something just foryou because I've had people
(05:12):
reach out who are serious aboutchanging their money story.
But the full financial planningpackage just wasn't the right
fit yet.
So I built a new servicethrough Oak City Financial
that's focused completely ondebt reduction.
No fluff, no shame.
You'll get a one-time planningsession, a personalized payoff
strategy, your own financialdashboard and monthly coaching.
If you want extra support whileyou climb out, it's $300 to get
(05:36):
started and $100 a month.
If you want that ongoingguidance, that's it.
This is about helping you getunstuck, not making you feel
like you failed.
If this sounds like what you'vebeen needing, go ahead and
schedule a call with me.
The link is in the show notes.
Let's take the first steptogether.
Speaker 1 (05:55):
Well, and you say that a lot too with your clients
that it's not how much you make, right?
Speaker 2 (05:59):
It's how much you save, because I've sat down with
people that have a great incomebut they're not saving anything
, or they're saving very littlebut they're not saving anything,
or they're saving very littleas compared to someone that
maybe their income is not ashigh as they would like or, you
know, as somebody would deem agood income, but they have a
high savings rate.
You're gonna have a lot moresuccess than the person who has?
(06:19):
maybe making three or four timesas much as you, but they're not
saving anything what do youthink is the difference there?
Speaker 1 (06:25):
like, if you're thinking about, you know a lot
of and when I say a lot I don'thave a percentage but teachers
right, teachers we knowhistorically in the US don't
make very much, but there areteachers who are retiring
millionaires.
They are good with their money,they are saving, maybe they
have a side hustle in the summeror on the side in general.
(06:47):
But like, what do you thinkwhat's the difference?
Because everybody can make anexcuse Like life is expensive.
Speaker 2 (06:55):
I would say one Going into being a teacher.
You already know you're notgoing to make a lot of money.
You know, that from the get-go,you're not going into this
career to make a lot of money,as compared to other people
choosing certain careers wheretheir goal is to make money.
They might not be making moneynow, but they're always like I'm
in a career where I can makemoney.
Speaker 1 (07:11):
Right.
Speaker 2 (07:12):
That's not a teacher's thought process at all
.
Speaker 1 (07:14):
Yeah.
Speaker 2 (07:14):
They're in a career where they know, like I'm, doing
this for the passion and thelove of teaching, not for making
money.
Now also, I would say goodteachers are organized.
Speaker 1 (07:23):
That's true.
Speaker 2 (07:33):
You are an organized person because you and you can't
be a good teacher and not beorganized.
It's impossible, because yourclassroom is just going to be in
chaos.
Yeah, part of financialplanning is organization, so it
pairs very well.
But then also um, how some ofthe like you know 403bs and you
know retirement plans forteachers are set up.
It also is helpful the way thattheirs are structured what do
you mean by that?
um, so some of them have arequired minimum that you have
to contribute oh itautomatically comes out, and you
(07:56):
know that's a t-shirt yeah thatyou had a amount that
automatically was going to comeout.
Speaker 1 (07:58):
You didn't even have the option which was good,
because I definitely was notcontributing above and beyond
whatever they were taking butthe amount that was coming out.
Speaker 2 (08:07):
You didn't have an option, it was already coming
right or, as compared comparedto with, you know, most
corporate America jobs, youcould shut off your 401k plan
and not contribute at all.
Speaker 1 (08:15):
Yeah, that's true.
I think, too, one thing that Iwas thinking about just in
talking about teachers ingeneral and we've talked about
this is that lifestyle creepwhich, if you're working at the
you know, in the corporate techmaybe kind of world, which is
where I am there's a lot of thatlike you got to look good, you
got to drive the fancy car, yougot to fly business, you got to
(08:35):
do these things right To like,keep up appearances, keep up
with the Joneses.
Nobody's telling you to do thisright.
This is totally things thatpeople have in their in their
heads.
But like, yeah, you do want tolook nice when you go to
conferences or when you're goingto business meetings, I think
there's a difference.
When you're in that teachingfield, it's like no, we're all
(08:58):
broke, we're all making it.
It's like there's not that airof I need to look a certain way
or I need to drive a certain car.
I think that that I mean howand where you work I think feeds
into your lifestyle.
Speaker 2 (09:13):
Also too, like as a teacher, if you start to have
nice things, people start towonder like what are you?
Speaker 1 (09:17):
doing?
What are you doing?
Speaker 2 (09:21):
I remember when I was in fourth grade we had a
teacher that drove like she wasa little bit older but she drove
a Corvette like a newerCorvette, but her husband had a
great job and whatnot.
And I'm going to also use I'm adate myself here, but any of
you guys that watched, uh, themovie varsity blues back in the
day there was a teacher who hada really nice car, stuff like
that, and they're like what doesthis teacher do?
And then there's a scene wherethey go to a strip club and they
(09:42):
find out their teacher stripson the side.
Speaker 1 (09:46):
Oh no, my gosh.
Okay Well, hopefully that's notthe case.
No judgment, okay Well, but youknow what I mean.
Like there is that air, or eventhink about people in the
medical field, like sure, duringthe day you're wearing scrubs
and like you're unassuming, butthen it's okay.
Well, I have to have the bighouse and I have to have the
(10:07):
nice car and I've got to looklike a doctor, whatever that
means, or you mean specificallydoctors yes, doctors, lawyers,
right, no.
But you know what I mean.
Like there is that again, thatsocietal pressure, whether it's
in our head or in our circle,where you just depending on who
who's in your crew, and like whoyou run with, like are you just
(10:28):
keeping up with the Joneses?
Yeah, you know.
So there's something there too.
Speaker 2 (10:34):
So one thing we should also explain to you is
how do you actually calculateyour savings rate?
Speaker 1 (10:40):
Yeah, perfect, let's get into that.
Speaker 2 (10:41):
So there's two different ways you could do it,
because you can either do likeyour gross savings rate or your
net savings rate, and thedifference between that is gross
is your paycheck, obviouslybefore taxes are taken out, and
net is after taxes are taken out.
It's what you take home.
I think you should do it basedoff of your net, because that's
ultimately what you have.
What you actually have.
Speaker 1 (11:02):
Yeah, I know, and the gross, if that number is great
then your net is not because youhave all this stuff coming out.
Speaker 2 (11:10):
The hard part there is that, for example, if you're
doing pre-tax contributions.
Oh I see it's taken out.
Prior to taxation yeah, yeah,but I think the easiest way for
most people is just through thenet.
So, for example, if you make$1,000 a month and you're saving
$100 of it, so that's 10%.
Speaker 1 (11:31):
Yeah.
Speaker 2 (11:32):
So that's all you're doing, is you're dividing how
much you're saving divided byyour take-home pay.
Speaker 1 (11:38):
Okay, I mean that's, but I think too, don't you?
I mean taking a step back,going back to budgeting, knowing
your numbers, knowing yourcashflow.
If people don't know how muchthey're making and bringing home
, they also, then, assuming,don't know what their monthly
bills are and like what'sactually left.
You know whether you're doinglike whatever the?
(11:59):
Uh, the 20% of your income isfor fun, 10% is for savings, 50%
is for whatever way that you'rebudgeting, right?
If you don't know what yourincome is, you probably don't
have a budget in.
You're budgeting, right.
If you don't know what yourincome is, you probably don't
have a budget in place.
And then you don't know whatyour savings rate is or could be
, because you're just kind oflike willy nilly, just surviving
.
Speaker 2 (12:20):
Yeah, Like I said, savings rate is the number one
indicator of any type of success.
So, for example, if I know aclient's making a lot of money
like a new prospect, they'remaking a lot of money.
That doesn't get me jazzed.
Speaker 1 (12:30):
Doesn't do anything for you Once I look through
their information and they'regreat savers.
Speaker 2 (12:35):
I already see that they have a high savings rate,
and by high savings rate I'mtalking at least 15% or higher.
I'm like yes, because that'sthe hardest thing to get people
to understand and do.
It is a habit and it'ssomething you have to learn.
How to do is be accustomed tosaving a certain amount each
month, each paycheck, whateverit may be.
And if that person really hasthat muscle memory built in for
(12:58):
that, there's so much easier towork with.
Speaker 1 (13:00):
You heard it here first, friends, what gets
Brandon jazzed?
A savings rate of 15% or more.
A savings rate of 15% or more.
Speaker 2 (13:08):
I'm just saying that what comes with a good savings
rate also eliminates othernegative things from your
finances.
Normally you don't have a highsavings rate and a lot of debt.
That's true, because a lot ofdebt comes into play because
you're overspending, you don'thave enough money to pay for
something.
So, if you have a good savingsrate, for example, you built up
(13:28):
that emergency fund.
So when you have an emergencyyou have money to pay for that
emergency and you don't go intodebt.
So it just makes your overallfinancial situation easier.
And then, like you said, ifyou're wanting to work and to
become work optional, what's thebest way to become work
optional?
Have a higher savings rate.
Speaker 1 (13:43):
Yeah, how do you propose, like, what are the
steps?
If people listening and they'relike man, I know I'm
contributing to my 401k.
Maybe I do or don't know mypercentage.
Speaker 2 (13:54):
You should look at that first.
Speaker 1 (13:56):
And then I want to do something more.
I want to start contributingmore to my high yield savings
account, or like, what are thesteps that people can take to
actually do that?
Because, again, a lot of thethings that we talk about, it's
simple but it's not easy, right?
Like it's not?
Speaker 2 (14:12):
easy for people to do Exactly, and it all comes back
down to cashflow.
Like I said, I don'tnecessarily like to use the word
budget, but it's the one thatmost people are familiar with is
that you have to create someform of a budget in you know,
understanding what your cashflowis.
How much money do you havecoming in, how much do you have
going out?
Where's it going?
And then, do you have anyadditional money that you could
(14:34):
free up to put towards your 401kplan, to put towards your
savings?
That's the first thing how muchmoney is coming in, how much
money is going out?
Do I have any excess money thatI can put towards the benefit
me?
Speaker 1 (14:45):
Right.
Speaker 2 (14:45):
That's the first step .
Now, once you've looked throughyour finances and you say like,
hey, I have an additional $200that I could free up, where does
it make sense?
To put it, you know, do youalready have your emergency fund
built or do you need to work onthat?
Are you already, you know,contributing to your 401k plan,
where you're at least takingadvantage of your employer match
(15:06):
?
If you're not taking, you know,if you're not taking full
advantage of your employer match, maybe it might make sense to
increase your contributionsthere.
So at least you're getting thatquote unquote free money.
Or maybe it makes sense that ifyou don't have the amount, you
don't have six months of anemergency fund, or you know
eight months of an emergencyfund maybe it makes sense to
start putting money towards thatin order to increase in order
(15:27):
to increase the balance of thataccount.
So there's no right way, oneright way where to put the money
.
It's all based upon yoursituation.
But it's all going to start offwith understanding where your
money is going and then makingdecisions on how you want to
spend your money that bestreflects how you want to live
your life and, if you'respending money in places that
(15:49):
doesn't best reflect how youwant to spend your life, cutting
back on those to free up thatmoney to put other places that
is more beneficial to you.
Speaker 1 (15:55):
Yeah, I think too.
One of the things that I thinkis important and adds value over
time is not feeling like youhave to do it all at once, like
you can't jump from 3% to 10%,but maybe you can jump from 3%
to 5%.
And then in December, you know,maybe you add 2%, because if
(16:16):
you do it slowly, what's, what'san additional 2% of a hundred
dollars?
Right, like it's not gonna,you're not going to feel it,
you're not going to miss out onsomething because you added 2%
to wouldn't be 2% of be 2% of$100.
Speaker 2 (16:29):
It would be 2% of your.
Speaker 1 (16:30):
Whatever, yeah, but you know what I'm saying.
If you do it slowly yes, alwaysdo it slowly Don't do like
these big, oh, I'm going to do20% right off the bat You're
going to be like wait, where didall my money go?
Yeah.
Speaker 2 (16:42):
If you sit down and you have currently a a savings
rate of 3%, like you just said,don't try to jump to 20%.
Speaker 1 (16:48):
That's unrealistic Right?
That's crazy.
Speaker 2 (16:49):
You are just setting yourself up for failure.
Crazy sauce Do 5%.
See how that's working for afew months.
Speaker 1 (16:55):
Yeah.
Speaker 2 (16:55):
And if you're increased from 3% to 5% over a
few months, you don't feel it.
Speaker 1 (16:59):
You feel fine maybe up to 6%.
Speaker 2 (17:01):
Yeah, Maybe up to 7% should be this big jump because
it's not sustainable.
It's not realistic and also,like you want to have some, like
you know, better ideas.
As far as like benchmarks youshould be working for, yeah,
ideally 10 should be yourminimum and that's just for,
like covering emergency savings,I mean minimum to maybe have
(17:22):
some stability in your life now,um, if you're, you know, being,
you know, solid and on a goodtrack 15% to 20%.
Speaker 1 (17:31):
Which sounds like a lot because, again, most people
are living paycheck to paycheckand life is so expensive.
Speaker 2 (17:37):
I don't want to discount that either.
Speaker 1 (17:38):
Yeah, that's a reality.
Speaker 2 (17:40):
It's all based upon your own individual situation.
So, if you are in a hardsituation, you're in a hard
period of life then you justneed to figure out some things
on your day to day basis, andmaybe this should not be a focus
at this moment in time.
Speaker 1 (17:55):
Right.
Speaker 2 (17:55):
But this is not to shame anybody, but these are
just the numbers that, from astatistical standpoint, if
you're doing these things, itleads to a higher, it leads to a
better outcome that you'll beable to retire one day.
Become work optional.
Speaker 1 (18:09):
And most people aren't saving anything yeah.
Speaker 2 (18:11):
So if you want to fast track it, 30 plus percent
30 plus percent, yeah, andthat's more or less than,
honestly, when you hear thosepeople that are in fire, which
is financial independence,retire early, those are the
people that are doing, you know,30% and more.
I have my own feelings aboutthat to each of their own.
Do whatever you want to do.
For most people, that's justnot realistic, especially for, I
would say, our demographic,because if you already have kids
(18:32):
, you're starting to put away40% of your income, especially
depending on where you live.
Speaker 1 (18:40):
That's almost unrealistic in this day and age.
And how are you living?
You still want to live life.
We still want to live life.
Speaker 2 (18:54):
I agree, and a lot of people are very lean and
honestly doing all the thingsthey do now.
But, like I said, to each theirown.
But the idea here is have aconversation so that you have a
starting point of understanding.
Hey, I do need to understandwhat my savings?
Rate is, I do need tounderstand hey, if I'm not
contributing, I'm saving as muchas I would like to.
What are some of the thingsthat I need to do in order to
get there?
Speaker 1 (19:08):
I think another thing and I just had this
conversation with a friend ofmine is saving is an expense.
Speaker 2 (19:15):
Yes.
Speaker 1 (19:16):
You know, and you really do need to think of it
like that.
It's not optional.
Speaker 2 (19:19):
When I work with clients, I don't consider it an
option.
Speaker 1 (19:21):
Yeah, it is a line item.
Speaker 2 (19:22):
Even if it's only 3% or 4%, it is.
Speaker 1 (19:25):
It is there, it is a line item and it is an expense,
just like your mortgage, justlike your cell phone bill, just
like Sorry, you saveintentionally.
Speaker 2 (19:34):
You don't save what's left.
Speaker 1 (19:39):
Well, and that's what I was going to feed into is pay
yourself first.
Wealthy people pay themselvesfirst in their savings, in their
retirements, in their brokerageaccounts, all those things.
It is an expense for them thatthey put into their budget and
then what is left they spend.
So once you've covered all yourbills, which includes saving
and your retirement, then youcan go to dinner, then you can
(20:00):
book the vacation, then you canupgrade your flights, then you
can do the kitchen remodel.
It is an expense.
Speaker 2 (20:06):
Yes, let's say, people who set it up for
automating and do it at thebeginning of the month are
significantly more successfulthan those who try like oh you
know, I'll do it at the end ofthe month.
Never works, doesn't happen.
Speaker 1 (20:19):
No, and I can say for myself if I don't automate, it
doesn't happen.
And it's not because I don'tthink it's important, it's not
because I don't want to, but I.
It's not because I don't thinkit's important, it's not because
I don't want to, but I mean youlook up and you're in the
middle of the month, right, andthen you have extra expenses
that you weren't expecting.
Things happen, life is lifing,you get busy and then you look
up, it's the end of the monthand what did you put away?
(20:41):
Nothing, and you can alwaysfind something to spend your
money on, like without a problem.
But if you don't set aside yoursavings, it will go away.
It will not be there at the endof the month, and we all know
that.
So stop playing yourself andpay yourself first, because that
(21:02):
is what wealthy people do theypay themselves first.
Speaker 2 (21:05):
And the idea behind this conversation.
Once again all comes back tothe planning aspect and being
aware when are you today, whatis going on in your financial
life, where do you want to beand what steps do you need to
take in order to get there?
That is always going to be thefoundation of pretty much
anything that we're talkingabout, because, like you said,
people are going to work dayafter day, working 40 plus hours
(21:28):
a week.
And what are you doing for?
Speaker 1 (21:31):
You don't even know the numbers at the end of the
paycheck coming into your bankaccount.
Speaker 2 (21:35):
Obviously we've got to bring in money to live and
take care of our family andthings of that nature, but
hopefully you have a bigger goalthat you want to achieve than
just that.
Speaker 1 (21:43):
Right.
Speaker 2 (21:44):
And if you don't listen to our podcast so that
you can get yourself in themindset and learn some tools to
do that?
Speaker 1 (21:49):
Absolutely so.
If you do not know your currentsavings rate, take a moment
today, tomorrow, this weekend,and figure that out.
Figure out what you'recontributing to your retirement
account through your employer,what's going into your savings,
your cash flow, and again, ifyou need help, we are not just a
podcast with free information.
This is what Brandon does for aliving.
(22:13):
This is what he does with hisclients every single day.
So reach out, book a freeconsult, see if the vibe is
right, cause you really do haveto have a great relationship
with your financial advisor.
Speaker 2 (22:25):
And I'm being honest, I have to also like you too,
like I'm just being real, likeit's true, I don't want to ever
you know, dread like oh man, Ihave to meet with this client
today.
Like no, I all my clients Igenuinely like so yeah, that's a
benefit to you being anentrepreneur.
Speaker 1 (22:41):
Yeah, but reach out, have the conversation, um, and
get started.
Don't just keep putting thisoff.
You know, you are.
We're in the middle of the yearby the time we look up.
It's going to be, you know, endof year again, and then we're
going to look back and say, ohmy gosh, where did the year go?
Speaker 2 (22:58):
Let's issue a two-part challenge First,
figuring out what your savingsrate is, what it currently is,
and if it's not, in that youknow 20% or above area, try to
increase it one or 2% over thenext few months.
Speaker 1 (23:15):
Okay, oh, so the first part is find out what your
savings rate is.
Okay, I was waiting for parttwo.
Okay, what is your savings rate?
And then increase it by a fewpercentages percentage points,
okay, perfect.
All right, you know what to do.
Go forth, get your financesright, look at your numbers,
understand them and reach outfor help.
You do not have to go at italone.
(23:39):
We hope this was a fun andinformative episode.
Share it with a friend andwe'll talk to you soon.
Don't forget, benjamin Franklinsaid an investment in knowledge
pays the best interest, youjust got paid Until next time.
Thanks for listening to today'sepisode.
(24:00):
We are so glad to have you aspart of our Sugar Daddy
community.
If you learned something today,please remember to subscribe,
rate, review and share thisepisode with your friends,
family and extended network.
Don't forget to connect with uson social media at the sugar
daddy podcast.
You can also email us yourquestions you want us to answer
(24:22):
for our past the sugar segmentsat the sugar daddy podcast at
gmailcom, or leave us avoicemail through our Instagram.
Speaker 2 (24:27):
Our content is intended to be used, and must be
used, for informationalpurposes only.
It is very important to do yourown analysis before making any
investment based upon your ownpersonal circumstances.
You should take independentfinancial advice from a licensed
professional in connection with, or independently research and
verify any information you findin our podcast in which you rely
upon, whether for the purposeof making an investment decision
or otherwise.
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