Feb. 4, 2026

Mutual Funds vs ETFs vs Stocks: What You Need to Know Before Investing

Mutual Funds vs ETFs vs Stocks: What You Need to Know Before Investing

Send us a text If you've ever been confused about mutual funds, ETFs, and individual stocks, this episode is your beginner-friendly breakdown. Jessica and Brandon cut through the noise to explain what each investment type really is, how they work, and how to choose what’s right for your goals. From 401(k)s to robo-advisors to picking your own stocks, this episode helps you avoid costly mistakes and invest with clarity. You’ll learn: The pros and cons of mutual funds, ETFs, and stocksHow fees ...

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Season 5

Send us a text

If you've ever been confused about mutual funds, ETFs, and individual stocks, this episode is your beginner-friendly breakdown.

Jessica and Brandon cut through the noise to explain what each investment type really is, how they work, and how to choose what’s right for your goals. From 401(k)s to robo-advisors to picking your own stocks, this episode helps you avoid costly mistakes and invest with clarity.

You’ll learn:

  • The pros and cons of mutual funds, ETFs, and stocks
  • How fees and fund managers actually affect your returns
  • Where to start depending on your age and experience
  • Why emotional investing can derail your progress

Whether you're 25 and just getting started or in your 40s and planning for retirement, this episode will help you invest smarter, not harder.

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Money, relationships, and the mindset to master both. Hosted by financial advisor Brandon and his wife Jessica, The Sugar Daddy Podcast breaks down how to build wealth, unpack old money beliefs, and have real conversations about love and finances. Their mission? To help couples and individuals grow rich in every sense of the word: emotionally, relationally and fina...

Chapters

00:06 - Why Most Investors Feel Lost

01:57 - Defining Mutual Funds Clearly

02:35 - ETFs Explained And How They Trade

04:40 - Active vs Passive And Fees

05:16 - Individual Stocks: Upside And Risk

06:23 - Buffet, Meal Kit, And From-Scratch Analogy

08:29 - Diversification And Account Tax Impact

11:34 - Expense Ratios And What You Keep

12:18 - Dividends Reality vs Hype

14:03 - What Index Funds Aim To Do

15:57 - Matching Products To Life Stage

18:26 - How To Start Researching Stocks

20:23 - Behavior, Volatility, And Staying The Course

24:20 - Recap And Practical Takeaways

Transcript
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00:00:06.160 --> 00:00:16.879
If you've ever wondered whether you should be investing in mutual funds, ETFs, or individual stocks, but had no idea what the difference is or which one's actually best, you are not alone.

00:00:17.120 --> 00:00:21.120
Most people are putting their money into investments they don't fully understand.

00:00:21.280 --> 00:00:27.440
And that confusion, it can lead to missed gains, higher fees, and way more risk than you signed up for.

00:00:27.679 --> 00:00:39.119
In today's episode, we're breaking it all down in plain old English what mutual funds, ETFs, and stocks actually are, how they work, how they differ, and the pros and cons of each.

00:00:39.280 --> 00:00:54.479
Whether you're investing through your 401k, using a brokerage app, or just trying to figure out where to start, by the end of this episode, you'll know exactly which option fits your money goals and how to avoid the rookie mistakes that cost people thousands.

00:00:54.719 --> 00:00:56.000
Let's get into it.

00:00:58.799 --> 00:00:59.600
Hey babe.

00:00:59.679 --> 00:01:01.039
What are we talking about today?

00:01:01.439 --> 00:01:14.719
Today we are talking about mutual funds versus ETFs versus individual stocks, what it means, because people throw it around like rice on the internets, on these internet streets.

00:01:15.040 --> 00:01:22.319
And most people don't know what they are, what the difference are differences are, the benefits, pros, cons, et cetera.

00:01:22.480 --> 00:01:24.879
So uh let's break it down for them.

00:01:25.200 --> 00:01:30.799
Yeah, about say it's a little bit hard because there is some overlap in regards to similarities between them.

00:01:30.879 --> 00:01:33.040
But then there are also some very key differences.

00:01:33.439 --> 00:01:42.560
And just like a lot of stuff when it comes to financial literacy, we're not taught about it in school, we're not taught about it in college, and really we have to just kind of figure it out on our own.

00:01:42.799 --> 00:01:54.719
So the idea here is that we're providing with some information to help, you know, shorten that process from a learning standpoint as far as understanding the differences and maybe help you figure out what's best for you.

00:01:54.959 --> 00:01:55.280
Okay.

00:01:55.760 --> 00:01:57.040
Uh, where do you want to start?

00:01:57.280 --> 00:02:00.400
Well, first, we want to start out as far as defining each of these terms.

00:02:00.560 --> 00:02:00.799
Okay.

00:02:00.959 --> 00:02:01.280
All right.

00:02:01.439 --> 00:02:03.359
So first we're going to start out with mutual funds.

00:02:03.439 --> 00:02:03.840
All right.

00:02:04.000 --> 00:02:08.319
A mutual fund is a um professionally managed pool of money.

00:02:08.479 --> 00:02:16.639
And what it is that you have someone who's the fund manager who actually is picking the various investments within that mutual fund pool of money.

00:02:16.960 --> 00:02:17.280
Okay.

00:02:17.680 --> 00:02:29.199
Now, you probably are somewhat familiar with mutual funds because if you have some type of employer retirement plan, such as the 401k or 403B, the funds that you're investing in there are often mutual funds.

00:02:29.520 --> 00:02:29.840
Okay.

00:02:30.240 --> 00:02:30.719
All right.

00:02:30.960 --> 00:02:31.439
Yep.

00:02:32.240 --> 00:02:33.360
Any questions about that?

00:02:33.599 --> 00:02:34.400
Nope.

00:02:35.199 --> 00:02:35.599
All right.

00:02:35.680 --> 00:02:40.639
So moving on to the next one as far as a high-level um definition is ETFs.

00:02:40.719 --> 00:02:44.960
And ETFs um stand for exchange traded funds.

00:02:45.120 --> 00:02:45.680
All right.

00:02:45.919 --> 00:02:54.800
Now, there are some similarities between like an ETF and a mutual fund in the sense of it is a pool of investment, it's a pool of individual investments.

00:02:55.039 --> 00:02:58.080
However, there are some you know very distinct differences.

00:02:58.400 --> 00:03:03.680
So with a um ETF, it actually trades like a stock.

00:03:03.919 --> 00:03:14.000
Now, what I mean by that is that when you're purchasing a mutual fund, you're not exactly sure how much you're purchasing for until the close of the stock market that day.

00:03:14.159 --> 00:03:16.639
So stock market opens up 9 30 a.m.

00:03:16.800 --> 00:03:17.919
Eastern Standard Time.

00:03:18.080 --> 00:03:27.759
And if I was to buy a mutual fund, um invest in a mutual fund at 10 a.m., I doesn't actually show me what I purchased it for until it closes at 4 p.m.

00:03:27.919 --> 00:03:28.639
Eastern Standard Time.

00:03:28.879 --> 00:03:29.599
That's really weird.

00:03:29.759 --> 00:03:31.039
So it's like a surprise.

00:03:31.439 --> 00:03:32.080
You have an idea.

00:03:32.319 --> 00:03:33.120
But you have an idea.

00:03:33.199 --> 00:03:34.319
So like you have an idea.

00:03:34.400 --> 00:03:37.439
And also the pricing of mutual funds doesn't fluctuate the same way.

00:03:37.599 --> 00:03:37.919
Okay.

00:03:38.159 --> 00:03:42.240
So you know, with a stock, the price fluctuates from like second to second.

00:03:42.719 --> 00:03:46.879
Same thing with the with an ETF because it trades, it trades the same way as a stock.

00:03:47.120 --> 00:03:53.039
Now, the difference with the ETF, because we said it is a pool of, you know, funds, uh, a pool of funds.

00:03:53.520 --> 00:03:56.800
The difference is that it's often what's called passively managed.

00:03:56.960 --> 00:03:57.199
Okay.

00:03:57.360 --> 00:04:08.639
So it does have a fund manager, but the manager is not making all these different changes and choosing all the different individual um investments within it the same way that the investments are being picked within a mutual fund.

00:04:08.879 --> 00:04:12.639
So mutual funds are often what's called um actively managed.

00:04:12.879 --> 00:04:19.360
The manager is making a lot of changes on a regular basis as compared to with an ETF, they are not making the same changes.

00:04:19.439 --> 00:04:25.040
They are more passively allowing things to, you know, they've made the investments and allow them to do what they need to do.

00:04:25.199 --> 00:04:29.920
Now, with the ETFs, ones that most people are kind of familiar with is like an index ETF.

00:04:30.319 --> 00:04:34.720
So what it is is it's an ETF that mirrors, say, the S P 500.

00:04:34.879 --> 00:04:38.639
So you're picking the same investments that are within the S P 500.

00:04:38.720 --> 00:04:40.560
So you're not making those same changes.

00:04:40.800 --> 00:04:41.120
Okay.

00:04:41.439 --> 00:04:50.879
I'm probably skipping ahead here, but when I hear actively managed versus passively managed, I'm thinking fees and what I'm paying.

00:04:51.199 --> 00:04:53.439
You are 100% on the right thought process.

00:04:53.600 --> 00:04:53.839
Okay.

00:04:54.000 --> 00:05:04.000
So I would likely be paying more on something that's actively managed, like the mutual fund, versus something that is passively managed like the ETF's index funds.

00:05:04.240 --> 00:05:04.720
Correct.

00:05:04.879 --> 00:05:13.439
That is one of the key differences between the mutual fund and an ETF, is that often uh mutual funds have higher expenses than the ETFs do.

00:05:13.759 --> 00:05:14.079
Okay.

00:05:14.720 --> 00:05:15.519
What's next?

00:05:15.759 --> 00:05:16.000
All right.

00:05:16.079 --> 00:05:21.279
So moving into the individual stock, the sexy stuff that a lot of people think about when it comes to investing.

00:05:21.439 --> 00:05:21.839
All right.

00:05:22.160 --> 00:05:25.920
So a individual stock is actual ownership in an individual company.

00:05:26.079 --> 00:05:32.000
So for example, if you're buying a stock in Apple or Microsoft or the Hot One, NVIDIA.

00:05:32.319 --> 00:05:32.800
Oh, yeah.

00:05:33.040 --> 00:05:34.480
You are buying that boat.

00:05:34.639 --> 00:05:39.120
Yeah, you are buying, essentially you are buying a portion of ownership in that company.

00:05:39.360 --> 00:05:51.120
Now, it does have some benefits, but also has, you know, some drawbacks where you can have, you know, high upside in regards to how much it can grow, but with that also comes a much higher risk because you are not as diversified.

00:05:51.279 --> 00:05:57.839
As compared to with like an ETF and a mutual fund, you're investing in a pool of investments as compared to a stock, it's one company.

00:05:58.079 --> 00:05:58.480
Yeah.

00:05:58.720 --> 00:06:06.000
I like to think of um like the ETFs as you have the fruit basket, right, with all the different fruits.

00:06:06.319 --> 00:06:12.639
But if you're buying an individual stock, you're just buying the apple, you're just buying the banana, you're just buying the kiwi.

00:06:13.040 --> 00:06:15.199
That is a no, that is an excellent analogy.

00:06:15.279 --> 00:06:17.279
Um, because I like to give people visuals.

00:06:17.519 --> 00:06:19.600
Because like with the stocks, it it it's a lot more.

00:06:19.680 --> 00:06:27.600
So like with the ETFs and mutual funds, it could be a lot more hands-off for you as the individual investor as compared to with individual stocks.

00:06:27.759 --> 00:06:30.879
It does require more involvement and more research on your part.

00:06:31.040 --> 00:06:31.279
Right.

00:06:31.439 --> 00:06:38.160
Now, a an additional analogy is you know, between the three of them is that you could think of like a mutual fund as like a buffet with a chef.

00:06:38.800 --> 00:06:39.040
All right.

00:06:39.680 --> 00:06:43.279
So you have the buffet, but then you have the chef there that's kind of you know diving everything out.

00:06:43.759 --> 00:06:44.639
He picked the menu.

00:06:44.800 --> 00:06:45.120
Yes.

00:06:45.279 --> 00:06:51.120
And with the ETF, you can have a pre-pack, it's more like a pre-packaged um meal plan.

00:06:51.439 --> 00:06:51.759
Okay.

00:06:52.399 --> 00:06:52.800
All right.

00:06:53.040 --> 00:06:54.160
So you get what you get.

00:06:54.240 --> 00:06:55.920
It's put together, but you get what you get.

00:06:56.079 --> 00:06:58.959
You don't necessarily have the options of choosing all these various things.

00:06:59.120 --> 00:07:00.480
It's already pre-packaged for you.

00:07:00.639 --> 00:07:01.680
And you don't throw a fifth.

00:07:01.839 --> 00:07:02.240
Correct.

00:07:02.560 --> 00:07:06.240
And now, you know, when it comes to the stock, you're cooking from scratch.

00:07:06.879 --> 00:07:11.439
You have all you have to go and buy all the individual ingredients and you have to cook it and put it all together yourself.

00:07:11.680 --> 00:07:11.839
Okay.

00:07:12.000 --> 00:07:12.959
Oh, yeah, I like that.

00:07:13.439 --> 00:07:17.439
Which I would say with the individual stock, because it requires that research.

00:07:17.759 --> 00:07:18.959
What are you researching?

00:07:19.120 --> 00:07:19.360
Right.

00:07:19.519 --> 00:07:33.040
Like that's that's where it gets tricky because like most people aren't in finance and don't understand what they should even be looking for to say this could potentially maybe one day be a good investment.

00:07:33.439 --> 00:07:37.920
So when it comes to researching individual stocks, there are a variety of ways to do that analysis.

00:07:38.399 --> 00:07:43.199
Now, this episode is not going to go deep into that, but there are a variety of ways to do it.

00:07:43.360 --> 00:07:46.639
And one way is not correct and one way is not necessarily wrong.

00:07:46.720 --> 00:07:54.879
It also comes down to personal preference as well when it comes to how you're going to evaluate it and what specifically um uh details you're gonna actually look at.

00:07:55.120 --> 00:07:55.439
Okay.

00:07:55.600 --> 00:07:55.759
Okay.

00:07:56.240 --> 00:08:04.639
You talk, you could talk to three different, you know, uh certified financial analysts, and they might give you three completely different ways of the way that they go ahead and do it.

00:08:04.800 --> 00:08:05.279
Yeah.

00:08:05.600 --> 00:08:10.000
So you know, take that with a certain grain of salt that if it's something that you want to do, that's fine.

00:08:10.079 --> 00:08:12.160
But you are gonna have to put that time into doing it.

00:08:12.480 --> 00:08:15.279
And also, you know, continuous because it's not just a one-time thing.

00:08:15.519 --> 00:08:16.000
Right.

00:08:16.240 --> 00:08:27.680
What do you say to clients who may be locked in on a stock early and they're like very loyal and but they're all in on that one stock?

00:08:27.920 --> 00:08:28.720
What do you say to them?

00:08:29.040 --> 00:08:36.720
Well, the biggest thing that you want to also make sure that you're focused on is the diversification, because by diversifying, you also help to mitigate risk.

00:08:36.960 --> 00:08:49.679
If you have all your money from an investment standpoint into one individual stock as compared to having a portfolio constructed of mutual funds or ETFs, you have significantly higher risk often within that one individual stock.

00:08:49.759 --> 00:09:01.440
Because if that one individual stock doesn't perform well, the entire portfolio shot as compared to with the ETF and the mutual funds, if some of the investments in there don't perform well, you have a bunch of other ones to counter that, hopefully.

00:09:01.759 --> 00:09:02.000
Right.

00:09:02.159 --> 00:09:09.440
But the way that you know you would look at it is that if also it depends on what what account you're holding that individual stock in.

00:09:09.679 --> 00:09:29.279
Because, for example, if you have an IRA and you have individual stocks within your IRA, since it is a tax qualified account, you can actually, you know, if you have, say, all your money in Apple, you can actually sell off some of that and not have a tax consequence within your IRA.

00:09:29.600 --> 00:09:30.799
Oh, nice.

00:09:31.039 --> 00:09:32.320
Because it's a qualified account.

00:09:32.480 --> 00:09:35.360
The tax implication doesn't come into you actually withdraw funds.

00:09:35.519 --> 00:09:35.759
Okay.

00:09:36.000 --> 00:09:42.399
As compared to if you have um a brokerage account, which means that there's it's not a tax-qualified account.

00:09:42.480 --> 00:09:48.240
If you have all the Apple in there, if you were to sell off, that is a taxable, that is a taxable event.

00:09:48.480 --> 00:10:03.840
So therefore, the way that you might want to counter that instead, like if you're highly concentrated in that one stock, instead of selling off that stock, what you might want to do is any new contributions that you're putting into that account, you are contributing to other investment options and no longer purchasing Apple.

00:10:04.799 --> 00:10:05.120
Okay.

00:10:05.360 --> 00:10:15.919
I feel like you just said a whole bunch of stuff because what I'm hearing is it's not only important where you're like what you're buying, but where you're buying it.

00:10:16.080 --> 00:10:16.559
Yes.

00:10:16.799 --> 00:10:17.120
Okay.

00:10:17.360 --> 00:10:17.519
Okay.

00:10:18.159 --> 00:10:24.320
Because as well, you know, we stated, different accounts have different tax implications on the movement that you make within them.

00:10:24.559 --> 00:10:25.120
Right.

00:10:25.440 --> 00:10:29.600
Ooh, do y'all see why people hire financial planners?

00:10:29.679 --> 00:10:31.600
Because there's so much nuance.

00:10:32.240 --> 00:10:32.399
Yeah.

00:10:32.480 --> 00:10:40.720
And the thing is that, you know, if you're a set of person that's going to dedicate the time to understand this, everyone can dedicate everyone can understand this if they had dedicated the time.

00:10:40.799 --> 00:10:40.960
Right.

00:10:41.120 --> 00:10:42.399
It's a matter of do you have the time?

00:10:42.559 --> 00:10:45.200
Do you want to, you know, make the time, do you want to do that?

00:10:45.279 --> 00:10:46.639
That's what it boils down to.

00:10:46.879 --> 00:10:47.279
Yeah.

00:10:47.440 --> 00:10:47.759
Okay.

00:10:48.080 --> 00:10:50.000
What else do you want the people to know?

00:10:50.320 --> 00:10:54.960
Well, we kind of touched on it as far as the difference between the active and passive management.

00:10:55.759 --> 00:11:07.200
Because, you know, with the active aspect, you know, you're having that human manager of the fund that is actually going to be picking and making changes within that um, you know, say mutual fund.

00:11:07.360 --> 00:11:07.519
Okay.

00:11:07.679 --> 00:11:09.759
And but like I said, that does come with a higher fee.

00:11:09.919 --> 00:11:17.360
And one of the biggest things that I find that like people don't pay attention to is the fees associated with the different investments that you're in.

00:11:17.840 --> 00:11:18.159
All right.

00:11:18.320 --> 00:11:28.879
Now, an individual stock doesn't necessarily have a fee associated with being in it, but when you buy and sell, you could have implications from a tax standpoint as far as um long-term versus short-term tax.

00:11:29.039 --> 00:11:29.279
Okay.

00:11:29.519 --> 00:11:34.480
But when you're choosing mutual funds and ETFs, there is something called an expense ratio.

00:11:34.639 --> 00:11:40.639
An expense ratio is a fancy word for how much you are paying to be associated to be to be invested in that fund.

00:11:40.879 --> 00:11:41.200
Okay.

00:11:42.080 --> 00:11:52.960
Passive, uh, passive investing, there are some mutual funds that do do passive investing, but passive investing is mostly with um ETFs, exchange traded funds, and the fees tend to be lower on there.

00:11:53.200 --> 00:11:53.519
Okay.

00:11:53.759 --> 00:11:54.240
All right.

00:11:54.799 --> 00:11:57.200
As compared to with your mutual fund, they're higher.

00:11:57.440 --> 00:11:58.080
It's going to be higher.

00:11:58.399 --> 00:12:04.399
And the reason you want to pay attention to that is because at the end of the day, it's a matter of what you keep from a growth standpoint.

00:12:04.879 --> 00:12:13.039
So you can have all this growth, but if all you if all this growth is in um um funds that have higher fees, that's gonna cut into the growth that you have.

00:12:13.279 --> 00:12:13.679
Yeah.

00:12:14.000 --> 00:12:17.679
Can we talk about how these accounts grow?

00:12:18.080 --> 00:12:22.320
Because I know we always talk about compound interest, and compound interest is the eighth wonder of the world.

00:12:22.399 --> 00:12:29.840
And then online you see things where it's like, I went on this vacation to Bali and I used the payment from my dividends.

00:12:29.919 --> 00:12:32.240
Like, what does that stuff mean?

00:12:33.279 --> 00:12:46.240
All right, so dividends are great, but when you're hearing it in that standpoint, that means that person has a lot invested in that specific stock or you know, fund or whatever it may be in order to have the dividends.

00:12:46.399 --> 00:12:55.200
Because a dividend is simply a percentage payout based upon the, you know, performance or growth or success that that fund or individual stock has had for that year.

00:12:55.919 --> 00:12:57.279
And it's a percentage.

00:12:57.440 --> 00:13:07.279
So for example, if I only have like, you know,$100 invested in there and the percentage is 5% of for the dividend, all I got was five dollars.

00:13:07.519 --> 00:13:09.039
You are not going to Bali for that.

00:13:09.279 --> 00:13:09.440
Yeah.

00:13:09.519 --> 00:13:17.679
So when you hear people say that they're living off of dividends or that they're using them for, you know, very expensive purchases, they have a lot invested already.

00:13:18.080 --> 00:13:28.879
So it's not, I don't I don't want the people to have the misconception that, you know, oh, I have like$100,000 invested in the market and I'm gonna be living off of my dividends, like living lavish.

00:13:29.039 --> 00:13:30.159
That's not the reality.

00:13:30.320 --> 00:13:31.919
You these people are living off of this.

00:13:32.000 --> 00:13:34.240
They have a substantial amount of money invested.

00:13:34.720 --> 00:13:38.559
And that's why they're able to live off those dividends because they already have a lot of money to begin with.

00:13:38.879 --> 00:13:43.440
Is that what the people like in the fire movement are doing a lot of times, living off of their dividends?

00:13:44.000 --> 00:13:45.279
I mean, it it depends.

00:13:45.519 --> 00:13:49.679
It really depends on how they're it depends on how old they are, how their portfolio is structured.

00:13:49.840 --> 00:13:53.919
Um just to say it ha it really depends, to be honest with you.

00:13:54.240 --> 00:13:54.480
Okay.

00:13:54.720 --> 00:14:03.519
When you say um something is actively managed and passively managed, these are not people that you're actually interacting with.

00:14:03.840 --> 00:14:04.399
No, not at all.

00:14:04.559 --> 00:14:05.600
These are the fund managers.

00:14:05.679 --> 00:14:05.840
Yeah.

00:14:05.919 --> 00:14:06.480
So an easy one.

00:14:06.639 --> 00:14:08.960
They're in the background, you will not see them, you don't know who they are.

00:14:09.200 --> 00:14:14.720
Because you have someone that is overlooking the fund and making sure that it's doing what it's quote unquote trying to do.

00:14:15.279 --> 00:14:27.039
Well, the big thing here, difference between the active and man and uh the active and passive is that often with an actively managed fund, they're actually trying to beat the uh market in a sense with that fund.

00:14:27.600 --> 00:14:33.120
So, for example, like if it's an aggressive um mutual fund, they're trying to beat the market.

00:14:33.519 --> 00:14:34.000
They're not trying to.

00:14:34.320 --> 00:14:36.159
I mean, isn't everybody trying to beat the market?

00:14:36.480 --> 00:14:40.399
No, not everyone, because you also have passively managed funds.

00:14:40.480 --> 00:14:40.559
Okay.

00:14:40.799 --> 00:14:43.120
And their goal is to try to do maybe just as well as the market.

00:14:43.200 --> 00:14:47.360
So for example, if SP 500 index fund is not trying to beat the market.

00:14:47.519 --> 00:14:47.919
Oh, okay.

00:14:48.080 --> 00:14:51.679
It is simply trying to do it, does the same that the uh SP 500 does.

00:14:51.919 --> 00:14:52.240
Okay.

00:14:52.399 --> 00:14:52.559
Okay.

00:14:53.039 --> 00:14:55.120
So that's, you know, could be a huge difference.

00:14:55.440 --> 00:15:05.360
And can look just to be clear, because I think SP 500 is something that if you're trying to educate yourself on the internet about investing, you see that a lot.

00:15:05.519 --> 00:15:15.600
And the SP 500 is since we're standard and pores, and it is it it is one of the most widely used indexes to measure the performance of the overall stock market.

00:15:15.919 --> 00:15:19.600
And um, what it is is 500 of the largest US stocks.

00:15:19.919 --> 00:15:20.240
Yeah.

00:15:20.399 --> 00:15:24.240
So again, you're getting that diversified uh, you know, better.

00:15:24.399 --> 00:15:30.480
But it changes too, because if you're, you know, if number 501 overtakes number 500, then it moves in.

00:15:30.720 --> 00:15:31.360
Then it moves in.

00:15:31.440 --> 00:15:31.600
Yeah.

00:15:31.679 --> 00:15:38.000
So you always could be some, you know, switching around the positions or you know, new ones coming in and the uh lower ones being dropped out.

00:15:38.240 --> 00:15:38.480
Yeah.

00:15:38.639 --> 00:15:38.960
Okay.

00:15:39.919 --> 00:15:42.000
Um okay.

00:15:42.240 --> 00:15:44.399
So I feel like you said a lot.

00:15:44.559 --> 00:15:52.960
We've got our, we've got our visuals, we've got our private chef, we've got our uh, you know, our home cooked meals, like we got our our fruit basket.

00:15:53.759 --> 00:15:57.440
And kind of like a little way to like, you know, we'll give you a little overview of kind of what we just talked about.

00:15:57.600 --> 00:15:57.679
Okay.

00:15:57.840 --> 00:16:01.200
And you can think of like the mutual funds, they're great for your retirement funds, all right?

00:16:01.360 --> 00:16:07.200
They're great for retirement and stuff like that, but you do obviously need to keep an eye an eye on the fees associated with it because they tend to be a little bit higher.

00:16:07.440 --> 00:16:07.600
Okay.

00:16:07.759 --> 00:16:10.159
And what do you what do you mean when you say high fees?

00:16:10.240 --> 00:16:11.200
Like what are we looking at?

00:16:11.519 --> 00:16:19.120
So, you know, you these in some mutual, I mean, some mutual funds may be pushing, you know, 0.6% to 1%.

00:16:19.919 --> 00:16:20.240
Okay.

00:16:20.559 --> 00:16:22.080
What that means is, you know, 1%.

00:16:22.559 --> 00:16:25.840
So if you have$100 in there, 1% of that is one dollar.

00:16:26.080 --> 00:16:26.399
Okay.

00:16:26.799 --> 00:16:28.000
That's what you're gonna be paying.

00:16:28.080 --> 00:16:34.639
So if for every$100 that you make, you're gonna be putting a dollar, you're gonna be paying a dollar to have that fund.

00:16:35.200 --> 00:16:39.120
Now there has been a move towards mutual funds trying to compete with ETFs.

00:16:39.200 --> 00:16:41.840
So there has been a move to um lowering the fees on that.

00:16:42.159 --> 00:16:48.240
But the whole premise of this is that we want you to be aware, this is one aspect of your investment portfolio that you need to keep an eye on.

00:16:48.399 --> 00:16:52.240
What are the fees that you are paying to be invested in the various funds that you have?

00:16:52.480 --> 00:16:52.720
Yes.

00:16:52.879 --> 00:16:53.039
Okay.

00:16:53.279 --> 00:17:07.599
Now, with the ETFs, that's more like honestly, that's more like more of a modern thing as far as for the modern investor people around our age, has you know, a similar aspect from um an ease standpoint and a diversification standpoint as a mutual fund.

00:17:08.000 --> 00:17:12.960
Big difference is is that not necessarily actively managed, so therefore the fees are lower.

00:17:13.359 --> 00:17:13.599
Okay.

00:17:14.079 --> 00:17:14.319
Yeah.

00:17:14.480 --> 00:17:21.839
I mean, uh if some people like again, the internet will have you believe that everything that has a higher fee is bad.

00:17:22.079 --> 00:17:22.240
No.

00:17:22.480 --> 00:17:23.279
But that's not the case.

00:17:23.599 --> 00:17:24.319
It's an analysis.

00:17:24.400 --> 00:17:29.759
It's based upon what is the growth that you're getting on that in comparison to the fee that you're paying.

00:17:29.839 --> 00:17:30.000
Right.

00:17:30.160 --> 00:17:40.720
Because if you're paying, you know, if you're paying a higher fee on a mutual fund in comparison to a similar ETF, but you're getting a better performance on that mutual fund, that uh higher fee may be justified.

00:17:40.880 --> 00:17:42.559
You have to simply have to do the math on that.

00:17:42.720 --> 00:17:43.039
Right.

00:17:43.200 --> 00:17:43.519
Right.

00:17:43.759 --> 00:17:44.079
Okay.

00:17:44.319 --> 00:17:45.680
And then you have obviously the stocks.

00:17:45.759 --> 00:17:49.759
That's the fun and flashy stuff that, you know, can have the high risk, high rewards.

00:17:50.079 --> 00:17:53.759
Um, but they can also, you know, you got to be more hands-on with that to pay attention to it.

00:17:53.920 --> 00:17:54.880
I don't want to be hands-on.

00:17:54.960 --> 00:17:55.119
Yeah.

00:17:55.200 --> 00:17:57.680
Which I don't have time, I don't have energy, I don't want to.

00:17:57.920 --> 00:18:07.039
Which I would say, you know, if it's people that are investing in individual stocks heavily, because I think it's fine to have a certain, a small portion of your portfolio in individual stocks.

00:18:07.200 --> 00:18:17.200
But if you have an overwhelming percentage of your portfolio in individual stocks, I really think you one need to be a hands-on person if you're doing this yourself, if you're not paying somebody else to do it.

00:18:17.359 --> 00:18:24.720
And honestly, if you're gonna be paying somebody else to do it, it's very specific individual from an advisor standpoint, because most financial advisors don't want to be picking stocks for people.

00:18:24.960 --> 00:18:25.279
Yeah.

00:18:25.519 --> 00:18:25.839
Okay.

00:18:26.160 --> 00:18:29.119
So let's talk about because this is still a lot of information.

00:18:29.279 --> 00:18:37.680
And even though I feel like we're breaking it down in an easier to understand manner, let's apply this to like real life.

00:18:37.839 --> 00:18:42.799
So our audience are millennials, 35 to 44, give or take.

00:18:42.960 --> 00:18:44.640
I'm sure there's some outliers.

00:18:44.799 --> 00:18:48.640
Um let's say you have a 25-year-old, what would you?

00:18:49.200 --> 00:18:50.319
I know it depends.

00:18:50.480 --> 00:18:51.839
You know, that's Brandon's favorite.

00:18:51.920 --> 00:18:52.480
It depends.

00:18:52.640 --> 00:19:04.160
But if you're a regular 25-year-old, you're working your first 401, uh, your first W-2 job, you're making decent money and you want to start investing, where would you tell them to start?

00:19:04.400 --> 00:19:07.519
I mean, honestly, within your within your 401k plan, you're limited.

00:19:07.599 --> 00:19:08.559
So we're gonna go outside of that.

00:19:08.720 --> 00:19:09.039
Okay.

00:19:09.200 --> 00:19:11.839
Um, these can be your low cost ATFs.

00:19:12.000 --> 00:19:12.240
Okay.

00:19:12.400 --> 00:19:22.640
And in all honesty, for a very, you know, for a beginner investor, it is perfectly fine to use the Robo Advisor because it's going to help with some of that um uh knowledge standpoint.

00:19:22.720 --> 00:19:26.319
And it's also gonna take some of the things off your plate as far as from a picking standpoint.

00:19:26.480 --> 00:19:32.079
It's going to ask you a variety of questions to help them understand, you know, who you are as an investor.

00:19:32.240 --> 00:19:35.680
And then it's gonna spit out a portfolio that works for you, you know, of low-cost ETFs.

00:19:35.839 --> 00:19:36.000
Yeah.

00:19:36.079 --> 00:19:42.160
So it's gonna have like your target date fund stuff, your risk tolerance, which at 25, you can be pretty aggressive.

00:19:42.799 --> 00:19:48.720
Um, we actually have an entire episode on like robo advisors versus traditional financial advisors.

00:19:49.039 --> 00:19:53.759
What it boils down to is like, what are you looking to get out of the medium that you're using?

00:19:54.000 --> 00:19:54.160
Right.

00:19:54.319 --> 00:19:59.759
And for a beginner, and you're just getting started, you want to obviously be very conscious of how much you're spending.

00:20:00.559 --> 00:20:08.720
And a robo advisor is, you know, you have to pay for robo advisors, but it's going to be a lower cost point than working with an uh you know a person.

00:20:10.319 --> 00:20:10.480
Yeah.

00:20:10.559 --> 00:20:10.880
Okay.

00:20:11.119 --> 00:20:18.000
What about people that are like us, 40s, family, you know, trying to think about retirement?

00:20:18.400 --> 00:20:24.960
You're going to obviously have your mutual funds in your 401k plan, but then also too, you can utilize the ETFs for ease and flexibility.

00:20:25.279 --> 00:20:25.519
Okay.

00:20:25.759 --> 00:20:26.880
Where do I buy those?

00:20:27.200 --> 00:20:28.880
You could buy those in any brokerage account.

00:20:28.960 --> 00:20:40.640
If you have an IRA at you know Charles Schwab at Fidelity, um, whatever it may be, even, you know, um the Robin Hood, even though I'm not a big fan of Robinhood, but what I'm saying is that you can buy ETFs on there.

00:20:40.880 --> 00:20:41.119
Okay.

00:20:41.279 --> 00:20:44.400
So if I have an IRA, I can buy ETFs in that IRA.

00:20:44.799 --> 00:20:44.880
Yeah.

00:20:45.039 --> 00:20:45.119
Okay.

00:20:45.200 --> 00:20:46.480
What about a Roth IRA?

00:20:46.720 --> 00:20:47.119
Same thing?

00:20:47.440 --> 00:20:52.960
It's Roth IRA is just a designation of how the money is um taxed.

00:20:53.519 --> 00:20:53.920
Yes.

00:20:54.160 --> 00:20:54.400
Yeah.

00:20:54.559 --> 00:20:54.880
Okay.

00:20:55.200 --> 00:20:57.279
So it's the same, you have the same options.

00:20:57.519 --> 00:20:57.839
Okay.

00:20:58.079 --> 00:20:58.720
Cool.

00:20:58.960 --> 00:21:03.200
Um what if I am like early 30s?

00:21:03.359 --> 00:21:04.640
I've been investing.

00:21:04.799 --> 00:21:08.240
I understand the power of time and compound interest.

00:21:08.319 --> 00:21:09.920
I'm not a I'm not a beginner.

00:21:10.079 --> 00:21:11.359
I'm not totally green.

00:21:11.599 --> 00:21:16.640
What would you advise for somebody who's a little bit more experienced and maybe wants to do a little bit more?

00:21:17.039 --> 00:21:27.599
I still think on the individual side, as far as like brokerage, like an IRA brokerage account, I still think there's a big benefit to having the core portion of your portfolio in ETFs.

00:21:27.759 --> 00:21:28.079
Okay.

00:21:28.240 --> 00:21:31.839
One, it's going to give you that diversification at a lower cost point.

00:21:32.480 --> 00:21:41.680
Because if you're thinking about trying to buy individual stocks in order to diversify your portfolio, you're going to have a lot more money in order to be able to do that because an individual stock is going to cost more.

00:21:42.000 --> 00:21:45.200
And so therefore, like I said, it's going to cost more to get that diversification that you need.

00:21:45.359 --> 00:21:51.920
So with a core portfolio of ETFs, you can manage your fees and have that diversification at a lower cost point.

00:21:52.160 --> 00:21:52.480
Okay.

00:21:52.720 --> 00:22:02.160
Now, I think it's perfectly fine if you are the type of person where you're going to take the time to be hands-on and understand investing in individual stocks.

00:22:02.240 --> 00:22:05.440
Because, like I said, with an individual stock comes more risk.

00:22:05.599 --> 00:22:11.279
So you are going to have to take the time to research and understand, you know, the risk versus rewards of doing that.

00:22:11.440 --> 00:22:17.200
It's perfectly fine to do it if you put in the work to understand what it is you're doing.

00:22:17.440 --> 00:22:17.839
Yeah.

00:22:18.079 --> 00:22:27.200
Do you have any tips or advice if people are like, I do want to buy some individual stocks, but I don't know how to actually research.

00:22:27.680 --> 00:22:36.559
Well, one of the tips I give people is that like obviously you could think of like the common ones that we know of, like Apple and NVIDIA, the ones that you see in the news that are doing well.

00:22:36.880 --> 00:22:39.279
You can obviously those are kind of easy ones to target.

00:22:39.519 --> 00:22:49.279
I kind of tell people that maybe look at where you're spending your money or specifically whatever uh sector your career is in, what do you see there?

00:22:49.839 --> 00:22:50.559
That's a good one.

00:22:50.720 --> 00:22:57.759
Well, because I've even said to you, you know, like if you open up our cupboard, if you look at our desk right now, we have a lot of Yeti products.

00:22:58.000 --> 00:22:59.759
I I'm I like Yeti.

00:23:00.480 --> 00:23:05.039
Now, I will preface that sometimes a good product doesn't necessarily make a good stock.

00:23:05.279 --> 00:23:05.920
That's what I'm saying.

00:23:06.079 --> 00:23:12.400
So if you're saying, hey, well, I already shop here, I have a lot of this, I, you know, this is a brand that I really like.

00:23:12.720 --> 00:23:13.039
Okay.

00:23:13.200 --> 00:23:15.119
I said, hey, should we invest in Yeti?

00:23:15.279 --> 00:23:18.319
And you were like, no, historically they have not done well.

00:23:18.480 --> 00:23:19.839
What did you look at to see that?

00:23:20.000 --> 00:23:21.599
Did you look at like their 10K?

00:23:21.680 --> 00:23:23.200
What did you Well?

00:23:24.160 --> 00:23:33.039
I'm not going to go into that's I think that could be a completely separate episode to go into those details because that's going to be more of an episode focused on how do you evaluate a stock.

00:23:33.200 --> 00:23:33.519
Okay.

00:23:33.839 --> 00:23:40.480
And I think that majority of people, like our listening core, I don't think that's where your time should be allocated, to be honest with you.

00:23:40.720 --> 00:23:41.039
Okay.

00:23:41.200 --> 00:23:41.599
All right.

00:23:41.839 --> 00:23:42.720
So then, all right.

00:23:42.799 --> 00:23:51.359
So then let's pivot into but if you are going to invest in individual stocks, I think from a knowledge standpoint, it's easier to start in areas that you know.

00:23:51.440 --> 00:23:59.440
So for example, if you work in healthcare, what are you seeing within healthcare on a day-to-day basis that may be, hey, maybe I should look into this.

00:23:59.519 --> 00:24:09.200
Like, for example, if you're if you worked at several different hospitals or you are overseeing several different hospitals, like what um softwares are you guys using within that hospital?

00:24:10.000 --> 00:24:14.559
Maybe that might be a good part place to start your research to see if it makes sense to invest.

00:24:14.880 --> 00:24:15.279
Got it.

00:24:15.440 --> 00:24:15.759
Okay.

00:24:15.920 --> 00:24:20.319
Yeah, like all the hospitals going to electronic records using Epic or something like that.

00:24:20.400 --> 00:24:33.200
It's like, I don't know if they're public or not, but because there's tons of like because like obviously we hear about the um the sexy ones always, like you know, Apple, Microsoft, Google, yeah, yeah, you know, all those, you know, all the ones laying off 40,000 employees every single year.

00:24:33.359 --> 00:24:33.599
Yeah.

00:24:34.160 --> 00:24:38.400
But there's also plenty of other stocks out there that are having significant growth.

00:24:38.559 --> 00:24:40.160
They're just not as commonly known.

00:24:40.799 --> 00:24:50.160
So therefore, if you like I said, you working in your industry, it's an industry that I don't work in, so I wouldn't even be aware of these little, you know, smaller things that actually can have significant growth.

00:24:50.400 --> 00:24:54.559
Because also, it's not a matter of like how much the stock costs.

00:24:54.720 --> 00:25:02.400
Like if you're looking to buy like a higher price stock, you're looking at the difference between what you bought it at and what it grows to.

00:25:02.559 --> 00:25:03.119
Right, right.

00:25:03.279 --> 00:25:11.279
So like even if the stock is only$5 now, but at the end of the year it had a 15% growth on it, yeah, 20% growth on it.

00:25:11.519 --> 00:25:12.160
That's significant.

00:25:12.319 --> 00:25:14.960
Yeah, it's compared to like, oh, I'm gonna buy a stock that costs$200.

00:25:15.359 --> 00:25:15.599
Right.

00:25:15.759 --> 00:25:18.000
It's the the margin you're looking for of growth.

00:25:18.240 --> 00:25:18.559
Okay.

00:25:19.200 --> 00:25:28.240
So if we're thinking about where do I start, which one makes sense for me, what questions can people ask themselves to decide should I do a mutual fund?

00:25:28.400 --> 00:25:29.519
Should I do an ETF?

00:25:29.759 --> 00:25:32.400
Am I right to be picking my own individual stocks?

00:25:32.559 --> 00:25:33.119
What do you think?

00:25:33.440 --> 00:25:37.119
Well, you definitely first so I always look at it this way.

00:25:37.279 --> 00:25:39.519
Where do people normally start their investment journey?

00:25:39.680 --> 00:25:45.359
And most people start their investment journey at their first job investing in their 401k plan.

00:25:45.440 --> 00:25:45.519
Yeah.

00:25:45.680 --> 00:25:49.680
And within your 401k plan, that is often going to be a mutual fund.

00:25:49.839 --> 00:25:50.000
Okay.

00:25:50.240 --> 00:25:53.119
So that's going to be your first place to start because that's the easiest entry point.

00:25:53.359 --> 00:26:11.920
And let me sidebar, we have an entire episode on how to properly set up your 401k because most people, they enroll, they don't know what they're doing, they're not optimizing anything, maybe they're not changing their time horizon, their target dates, they're not actually changing the investments of what you can invest in.

00:26:12.079 --> 00:26:16.240
You're not doing like pre-tax, Roth, you know, uh after tax.

00:26:16.559 --> 00:26:17.440
Those are three different things.

00:26:17.599 --> 00:26:20.559
We have an entire episode on just 401ks.

00:26:20.720 --> 00:26:22.400
So we'll link that one in the show notes.

00:26:22.480 --> 00:26:25.920
But so that's important here when we're thinking about the mutual funds.

00:26:26.160 --> 00:26:38.880
Yes, that's gonna be your probably most people's initial entry point is taking a look at your 401k plan and seeing what investment options you have available to you, or your 401k plan or a 403B, whatever it may be, what investment options you have available to you in there.

00:26:39.119 --> 00:26:50.640
And like I said, that's mostly gonna be mutual funds, and that can help you understand by doing some little read doing a little bit of research on your um for on your retirement account to see what those different mutual funds are and what they entail.

00:26:50.880 --> 00:26:51.200
Okay.

00:26:51.440 --> 00:26:51.920
Awesome.

00:26:52.160 --> 00:27:09.519
Now, once you kind of move past, I've already, you know, been contributing to my um employer um retirement account, and now maybe I I want to take the next step and then you know do some investing elsewhere, whether that's an IRA or a brokerage account, that's gonna be, hey, looking at ETFs.

00:27:09.920 --> 00:27:10.240
Okay.

00:27:10.480 --> 00:27:22.480
Because it's gonna be similar aspect, like I said, to the mutual fund as far as being able to diversify for a lower cost point, but with the ETF, it is gonna be more passively managed, so therefore it's gonna have even lower fee.

00:27:22.960 --> 00:27:23.279
Okay.

00:27:25.039 --> 00:27:26.960
And then with the stocks?

00:27:27.119 --> 00:27:27.680
Yeah.

00:27:28.079 --> 00:27:40.720
Like I said, I I always c I always caution people about this because I have honestly, there's very few people I've seen that have done this on their own and end up doing well.

00:27:41.680 --> 00:27:50.400
Well, and I mean, all the research shows that like picking individual stocks does not typically yield a better return than picking something like an SP 500.

00:27:50.640 --> 00:27:54.240
Yeah, and the hard part is too, is that you also have to take into account human behavior.

00:27:54.799 --> 00:27:59.599
Do you have the fortitude to deal with the ups and downs?

00:27:59.839 --> 00:28:10.079
So you're gonna see if you are, you know, if you have investments in individual stocks, you're probably gonna see more fluctuation in those individual stocks because you have high reward, but you also have a higher risk.

00:28:10.240 --> 00:28:17.119
So you want to make sure that you're not buying into a stock, you see a drop, and then you want to go ahead and immediately sell it.

00:28:17.519 --> 00:28:21.039
You gotta really think about why did I, you know, purchase this individual stock?

00:28:21.279 --> 00:28:22.319
Do I believe in it?

00:28:22.400 --> 00:28:26.559
And you have to give it the time that it needs in order to see the return that you're hopefully looking to see.

00:28:26.640 --> 00:28:26.799
Yeah.

00:28:26.960 --> 00:28:34.319
Because what ends up happening is that, and this is just like an investment standpoint, investing um principle in general, not just simply with stocks.

00:28:34.559 --> 00:28:37.119
Too many people cannot handle the ups and downs.

00:28:37.200 --> 00:28:49.200
So they'll go ahead and you know be invested, but then they see the market dip, they get hysterical about losing money, they pull their money out, and what ends up happening, the market goes back up, but their money's not back in the market to go up.

00:28:49.440 --> 00:28:49.680
Yeah.

00:28:49.839 --> 00:28:51.680
So then they missed, they missed the boom.

00:28:51.759 --> 00:28:52.000
Yes.

00:28:52.240 --> 00:28:53.599
Because of emotional panic.

00:28:53.839 --> 00:28:54.000
Yeah.

00:28:54.079 --> 00:29:06.720
So a big part of it is having whether regardless of what you're investing in, you have to one understand what you're investing in, understand the time horizon that you're investing, and then understand from a um behavioral standpoint of what you should and should not do.

00:29:06.960 --> 00:29:08.079
And who you are as a person.

00:29:08.319 --> 00:29:09.359
Yes, who you are as a person.

00:29:09.599 --> 00:29:13.519
And can you handle the fluctuation and ride ride the the wave, so to speak?

00:29:13.839 --> 00:29:19.359
And the thing is too, is that the the behavioral aspect doesn't even have to do with anything from an intelligence standpoint.

00:29:19.519 --> 00:29:20.000
Yeah, yeah.

00:29:20.160 --> 00:29:30.480
I have extremely intelligent clients where I already know when certain things happen, you gotta give them a I'm gonna have to be proactive and say, hey, this is what we remember, we talked about this.

00:29:30.640 --> 00:29:34.079
We knew this is a possibility and go through all that to talk them off the cliff.

00:29:34.160 --> 00:29:34.640
And I know that.

00:29:34.720 --> 00:29:39.119
And that, like I said, that has nothing to do with their um uh their intelligence because they're extremely intelligent people.

00:29:39.279 --> 00:29:42.400
This is simply human emotion when it comes to your own money.

00:29:42.640 --> 00:29:43.519
Yeah, yeah.

00:29:43.759 --> 00:29:53.599
And then, I mean, would you say that maybe having a mix of the mutual funds and ETFs or maybe a mix of all three is the best way to kind of find balance in all of this?

00:29:53.839 --> 00:29:59.200
I'm not gonna say it's the best way to find balance because that's all gonna be depending on you know your individual goal.

00:29:59.599 --> 00:30:00.000
Well, it does.

00:30:00.079 --> 00:30:03.440
It depends on your individual goals and what you are going to do.

00:30:03.519 --> 00:30:08.160
Because, like I said, if you have stocks in there, you're gonna have to be a little bit more hands-on.

00:30:08.319 --> 00:30:08.559
Okay.

00:30:08.720 --> 00:30:13.039
So if your goal is to be as hands-off as possible, yeah, individual stocks is not the way to go.

00:30:13.279 --> 00:30:13.440
Right.

00:30:13.599 --> 00:30:18.000
So it really depends on it from individuals for as what's going to be the best for that person.

00:30:18.240 --> 00:30:18.480
Yeah.

00:30:18.720 --> 00:30:19.039
Okay.

00:30:19.359 --> 00:30:20.000
All right.

00:30:20.400 --> 00:30:22.960
Well, I think this was very helpful.

00:30:23.279 --> 00:30:27.440
Is there anything else that we missed or that you want to make sure we cover?

00:30:27.680 --> 00:30:42.480
Uh I think from I think for what we were focused on, I think we hit all the key points that I want to talk about because obviously there's so many different things in investing that we could address, but we do want to kind of stay focused to kind of the high-level overview of the ETF's mutual funds and stocks.

00:30:42.880 --> 00:30:43.200
Okay.

00:30:43.440 --> 00:30:44.000
Perfect.

00:30:44.319 --> 00:30:46.079
Well, we hope that this was helpful.

00:30:46.240 --> 00:31:01.119
We hope that the visuals that we gave you about the chef and the fruit basket and all of those things help you understand what you're actually getting yourself into when you purchase these investments, because you do have to purchase them.

00:31:01.279 --> 00:31:08.000
Um, and what the the the pros and the cons are and the risks, because investing is risk.

00:31:08.160 --> 00:31:09.839
There's no such thing as a sure thing.

00:31:10.319 --> 00:31:14.240
So if this is helpful, share with a friend and we will talk to you soon.