WIN175. Holistic Wealth Strategy: How to Build Real Wealth Beyond Traditional Investing with Dave Wolcott

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And now let's dive deep. Welcome back to the Westside Investors Network podcast. I'm your host, Trent Warner. On today's episode, we are joined by Dave Wolcott, the founder and CEO of Pantheon Investments. Dave and I are gonna talk about Pantheon Investments and his book, The Holistic Wealth Strategy, as well as the six different types of capital that each and every one of us has.

Dave's gonna share his approach to investing both traditionally and in alternative assets and how you can take control of your financial future by committing to a plan and creating a vision for yourself. Now let's welcome Dave Wolcott. Welcome back to the WHIM podcast. We have a special guest, Dave Wolcott is joining the show today. Dave, so thank you so much for joining us.

Dave: Hey, Trent, really grateful to be here and connect with you and your audience.

Trent: So I was, Dave and I were talking a little bit before we started recording. And, as a father myself, I always love when other dads are prideful of their kids. And you happen to hit the baby lottery how many years ago now?

Dave: Wow. So I have four kids. And, yeah, the the oldest is 26. And we then had, triplets who are now 24, so.

Trent: What was that that time of your life like when you went from one to four very quickly?

Dave: You know, it was pretty crazy, Trent, and maybe, you know, I could just provide a little, like, backstory and context because this really is what has fueled me, right, as a father into building wealth, getting into real estate and things. This was really, you know, the light bulb moment and the pivotal moment for me and so, just, you know, to rewind a little bit, I was raised in a middle class family in Connecticut. We didn't come from a lot of wealth. And, you know, I was just told that the recipe for success was go to school, get good grades, you're gonna get a job and, you know, life would just magically work out for you, right? So I kinda walked down that path like many others out there, had the opportunity to do the ROTC program in college, and then served my country in the Marine Corps, traveled the world, worked with some amazing people, saw combat, and learned some things they don't really teach you anywhere else, such as leadership, integrity and teamwork.

And then after I transitioned from the Marines, I got into the tech industry and you know, I quickly became really frustrated with the corporate world and losing that sense of purpose and that sense of mission, which is what really drove me so much in the marines. And at the same time, my wife and I were starting to raise a family. We had an 18 old toddler just ruling the roost, you know, telling us what to do or trying to figure out where's the playbook for this, you know. And on 10/24/2000, that is when we literally had the baby lottery, and you know, my wife and I had triplets. It was a complete surprise to us.

We had we had no idea. And the first thing that I did, Trent, was, you know, after kind of the shock of this, was I went to see my financial planner, right? Because all that could go through my mind, My paternal instinct was I have got to provide for financial security for my family. Maybe there's retirement or something else down the way, but it's a million dollars to raise a kid and now I've just quadrupled that. So I've gotta do 4,000,000 just to get my kids like maybe through college, you know, if I'm lucky.

And the traditional route was just not working, right, investing in 401ks, and my financial planner just said, oh, don't worry, you know, you can invest in things like five twenty nine plans, just max out your four zero one ks, and you know, you're gonna be fine, you're in this for the long haul. And it was right then that I I just knew that investing as a retail investor in the stock market was just not for me, and what are the ultra wealthy actually doing? So this launched me on this obsessive journey to really figure out what is the playbook of the ultra wealthy. And at this time, this is back in 2000, I started investing in real estate, active real estate. So single family, multi family, raw land.

I got into office, I got into retail, I started investing in alternatives like oil and gas, right? Working interest in oil, literally back in 2000, and then fast forward twenty years, and I had a lot of success with investing as an LP and investing in the private market and realized that I could do this way better than the 7% return, you know, you're getting in the stock market. So I created Pantheon really to just help other LP investors really understand and demystify the private markets. What are the what is the playbook so so that you can really live that life that you've always wanted?

Trent: Yeah. And like how you you phrase that where, you know, you talked with your financial advisor, and a lot of people are in the same boat that as you were, where they are told one thing about how to become wealthy enough to retire, and you're in it for the long haul, just invest in your four zero one ks, five twenty nine. And let someone else control that for you. Let someone else guide you through that process. But I like how you took it upon yourself and took control over your financial future.

You didn't rely on someone else guiding you through that process or telling you what to do. That's and I think that's a way to expedite the growth of your of your portfolio, of your of your retirement plan. And that's how people that are wealthy and are able to retire early have achieved that goal. Right?

Dave: Yeah, absolutely. And let me give a simple example, Trent, that's gonna really kind of make this real for people. Because I know, you know, oh, well over 90% of Americans still have their money in two places. It's in qualified plans like IRAs and four zero one k's or entrapped equity in the primary residence. But let's go through a a simple equation, right, to just kinda make this real.

So if you were to follow traditional financial planning advice, and let's say you worked really hard, you saved up 4,000,000 through your forty years of of working, and you got to age 65, well, then give you this Monte Carlo stimulation, and they tell you that you can withdraw 4%, although I believe it's even lower than that today. But let's just call it 4%. So you made 4,000,000, you accumulated 4,000,000, now you're gonna take, 4% off of that, so that is a 160 k, right? But what they haven't really talked to you much about is taxes, fees, and inflation, which we're learning about today, right? So that 160 k is probably more like 110 k, you know, that you're actually living off of.

And wherever you live in the world today, that's probably not that much to kind of support a family go into retirement and things like that. So every year, you then take out 4% more to pay for your retirement, and oh, by the way, you hope you're not outliving your money, your nest egg, right? Now let's compare that scenario, right, to someone who is much more enlightened and has 4,000,000 in, you could call it some of active real estate that you're teaching, some syndications, right, that are tax advantaged and everything. And let's say, you know, again, it's that 4,000,000. So if it is tax advantaged, you're now I would say, and you can you can validate this, but let's say conservatively, we could take out 8% cash flow on that overall portfolio.

That's fair, right? So eight so 8%, now we're at a 100 and we're at 320 k of the original 4,000,000 in principle. Mhmm. And that should be almost tax free, right, if you're in real estate using all the great advantages that real estate and alternatives have to offer. And oh, by the way, your actual asset value is continuing to grow by 10% a year, right, because you're doing forced appreciation in the assets.

So rather than actually killing your golden goose each year, your capital, it continues to grow, which means your cash flow is gonna continue to grow, And this is how you actually create legacy wealth. You never have to worry about outliving your money, and you can live life on your own terms.

Trent: Yeah. And just another example to kind of compare the two different investment vehicles. And I'm happy to share this. But I remember the first five years, I want to say of my wife working, she's a nurse works full time, has her retirement plans through work. I think her four zero one ks had like $15 in it after five years or something.

And in the same period of time with us investing in real estate and all those, and me being in real estate, we grew our balance sheet on the real estate side by almost a million bucks. And so those are the two different same time period, different investment vehicles, different investment strategies, and one significantly outperformed the other, and it was cash flowing and all that stuff as well. So that's a real life, real numbers example for the listeners to kind of validate what Dave is talking about here.

Dave: Yeah. A 100%. And if you start to really study what some of the best investors in the world, like family offices, are really doing, you can see their asset allocation mix. And typically, like groups like Tiger twenty one, like I've had Michael Sonnenfeld, the CEO on that group, there's 1,300 members, Average net worth is a 100,000,000. They have, you know, roughly speaking about 25% in real estate, 25 to 30% in private equity, and literally only about 22% in public equities.

Right? So what does that tell you? Right? So it doesn't need to be all or nothing, but I think, you know, we we really need to wake up and realize that there's other solutions outside of what Wall Street is positioning for us in this, you know, paradigm of sixty forty type split and things like that. So, I, you know, I think people have a really big opportunity to, you know, optimize their yield as well as reduce their risk by diversifying their overall portfolio.

Trent: Exactly. And is that what Pantheon Investments as the founder and CEO of Pantheon, is that kind of what you are really preaching as well as your book? And I I wanna talk about your book as well. But let's let's start with Pantheon Investments. Is that kind of what Pantheon Investments is, I guess, motto is or or their their core value?

Dave: I see it this way, Trent. I mean, I I my my personal vision is really to help people change the way they think and view wealth. And what does wealth actually mean? Right? So after studying billionaires, centimillionaires, right, I mean, and being in this space for almost twenty five years myself, I believe that true wealth actually consists of six forms of capital, not just financial capital, but it also involves other areas like human capital, your health.

You could have all the wealth in the world, but if you didn't have your health, right, you'd only want one wish. Yeah. There's also intellectual capital. Right? This is why everyone is tuning into your podcast right now because can we get an edge?

Can we learn? Can we grow? Right? You've gotta be increasing your intellectual capital. There's emotional capital, there's spiritual capital, right, and all of these other forms of capital that to me truly define what wealth really is, right?

I wanna be a time billionaire, Right? Where I get to choose how I spend my time and feel like I have completely enough time in my day to be working on those things that really, you know, make an impact and are, you know, aligned to my unique ability and what it is that I wanna do in life. So trying to create just different thinking, that's really our ultimate goal. Now how do we do that at Pantheon? I just see this as all solving problems for investors out there, which is we run a virtual family office.

So if you want a done for you, you know, top notch team that can help you with alternatives and really maximizing your wealth, You know, we're managing families, you know, from 3,000,000 to a 100,000,000 in net worth, and, you know, we can support with asset protection, estate planning, investment, you know, strategy, and all of these different areas. Right? So that's kind of one key area. We provide deal flow into real estate and also alternatives like oil and gas and private credit, some other really cool things. Oil and gas, for instance, another great way to offset active income, you know, by investing in that.

And we have a software product as well that helps you manage and measure your entire portfolio, not just stocks, bonds, mutual funds, do cash flow modeling and simulation to really, you know, optimize because what you what you ultimately measure, you know, gets managed.

Trent: Absolutely. And I and I like what you talked about with the six different forms of capital. And and that I mean, you wrote a book called the holistic wealth strategy. Those six different forms of capital, I mean, sounds pretty holistic. Is that kind of what your book and and and clearly your book and Pantheon are aligned in the sense that you are focused on more than just dollars and cents.

You you have a bigger picture outlook on on things. Right?

Dave: Yeah. A 100%, Trent. And, you know, it all really starts with creating a vision. You know? I mean, when is the last time you sat down with your spouse, with your family, and you really created a crystal clear vision for yourself of what does it look like in ten years, in twenty years?

What does it look like? What does it smell like? How does it feel to you? Right? Even if I added, you know, three extra zeros to your bank account, how is that gonna materially impact your life?

Right? Because you'll get to a point where adding more zeros actually doesn't change things. It's all about how is it going to maybe change how you utilize your time? Where are you going to be investing? Maybe you're investing more in your relationships, like your family, or you're investing in your health, right?

With alternative things like stem cells and you know, things like that, right? So the foundation of the holistic wealth strategy is to actually first start with getting crystal clear clarity on what your vision is. Because once you have a destination, then you will know how to get there. If you don't have a target, you're gonna miss every time. Once you then have a vision statement, we kinda have five different phases that you can kind of walk through along this approach.

Trent: And when it comes to the and that this is something that my wife and I do as well. We we kind of have quarterly meetings as our our business partners. Right? And in your opinion, what does it take to create that vision statement for your family? I mean, it's it's there's there's a process to creating that.

I'm curious what your thoughts are on that.

Dave: Yeah, absolutely. So if you've ever read the book, a book that I totally recommend, someone I know, Cameron Harold wrote Vivid Vision, you know, phenomenal book on creating a vision and, you know, it's more for the corporate side, but it also, you know, ties to, you know, personal vision as well. And, you know, the first thing is changing your environment, right, if you wanna talk about the process. So it's not about sitting in your office by yourself on your laptop. It's more like maybe you're on in the favorite place in the world with your spouse.

Maybe whether that's a beach, you've got a Mai Tai or, you know, some beverage of your choice, right, kind of hanging out. Maybe you've exercised, you've meditated, right, you've gotten great sleep, you're in an inspirational environment. And then you just start to really kind of create and unfold this story of what you want your own life to look like. Right? How what is the quality of your relationships with your kids, with your parents, with your siblings, with your friends?

Right? What do you want them what what do you want that to look like? Right? So then you can start to define, well, know, I want to, you know, right now for instance, you know, my parents are really aging and getting getting older and, you know, going through some challenging times. I don't want, I know that I don't wanna have to look back and say, wasn't there for them, right?

I wasn't involved in that. I wanna be connected to them. I want to be a source of support, right? So starting to define things like that. Talking about your financial capital, right?

You know, what do you want your income statement to look like? How much do you want from passive income? Do you wanna be single threaded in terms of one source of income? Or do you want a dozen sources of income that are coming in? You know, how much risk do you want in terms of your overall portfolio?

Right? And, you know, thing things like that. So really in assessing your own investor DNA, right, and how that might align to you. And then, you know, thinking about your health, you know, again, I I that one is so huge to me because, you know, look at someone like Steve Jobs, right, he had all the money in the world, but yet he couldn't actually buy himself another day. Even think about Warren Buffett right now.

That's like, Trent, would you actually trade your you know, would you trade positions right now with Warren Buffett? No, exactly. Because he's, you know, he's he's in his nineties, right? But he would let he would give, like, probably the majority of his wealth to trade his position with you.

Trent: Absolutely.

Dave: Right? Because he you know, because you've got your wealth, right? You've got your health. So I think health is super important. And then as you really create that vision, what you can do is your future self, you know, you can bring that into the present and then start to become your future self by your habits, your goals, you know, your routines.

Like, I could look at your calendar and and really, you know, easily tell, you know, what, you know, if you're going to achieve that future self or not. Right?

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Well, and and when I asked you that question, I was curious where you were gonna start. You didn't start with what does my income look like? You didn't start with what's my net worth look like? You started with the other capital. And a lot of people, especially people younger, getting started trying to create a plan for themselves, I think focus on the money aspect or the wealth aspect first.

And there's more to life than just money. Money is a very good tool and a key component. But if you're not thinking about it holistically, like you've touched on multiple times, your vision is going to be hyper focused on maybe the wrong thing. An important thing, but maybe the wrong thing. Or or just a piece to the puzzle, not the entire puzzle.

And and having gone through a pretty, you know, traumatic experience in, I guess, eight almost eight years ago now where I was no. I'm not supposed to be here. I died eight years ago, and and it really opened my eyes to seeing that bigger picture at a young age. And the way that you phrased it, it just allows people to understand that money is important, but it's not everything. And so I appreciate you touching on that and especially bringing up Warren Buffett.

He's got all the money in the world, but he would pay me a lot of money to trade places with me right now.

Dave: Yeah, absolutely. I think a great way to really think about money, don't think about money as like the end point. Right? Like like, I want, you know, I want a million, I want 10,000,000, I want a 100,000,000. Right?

The way you should think about money really is more of it's a barometer of your success. Right? So if you're having success by having great health, which gives you 10 x energy, being really focused on your unique ability, your superpowers, if you will, and how you can contribute to the marketplace, right, we live in this capitalistic society, so how can you bring that there, then the market is going to reward you on what that looks like. So whether that's adding a million in on your balance sheet, right, through real estate or, you know, creating passive income, a 6 figure passive income stream, you know, or becoming a billionaire, right? It's it's going to be really that byproduct actually of your success.

But if you just focus on the money, you won't you won't make it. That's not should not be the primary focus.

Trent: Absolutely. Now, Dave, I wanna I wanna switch gears to the holistic wealth strategy. I like I like what the the blurb on your book is. I even wrote it down. The playbook to becoming ultra wealthy and having not only freedom of money, but freedom of purpose, time, and relationships.

Again, we've touched on the the different capital that people have in their lives. Your book seems to encompass that. What are a couple things or a few things about this book, The Holistic Wealth Strategy, that you think people will really resonate with when they read it?

Dave: Yeah, I can just give kind of a high level breakdown. We've really talked about a couple components, right? So the first one is that vision statement, right? Getting clear on what your vision is so you'd know where you're actually going, right? And then the first step, this is really interesting that everyone misses.

You might be thinking about, oh, you know, is it fix and flip? Is it, you know, a syndication? Right? What is it? No.

The actually, the first step in this framework is actually you yourself and understanding that you are your greatest asset. Right? So you have to make that mindset shift to know that, you know, how can I be investing in myself, right? Do I have a growth mindset or a fixed mindset? Because I guarantee you, Trent, you have multiple stories as do I, as do I bet many of the listeners out there that the first time you talked about your first real estate deal at the Thanksgiving or the family dinner table, people said what to you?

It's risky. My financial planner says that's a really risky idea. Right? Well, reason he says it's a bad idea is because he can't make any money on it. Right?

So everyone is gonna kinda tell you no, but you have to start having kinda this growth mindset and saying, like, wait a second, you're telling me to defer taxes in my four zero one k, and that's what everyone does. But wait a second, aren't taxes likely gonna go up in the future? Right? And wouldn't you rather actually pay the seed rather than the harvest? Right?

You know? So I would I would venture to say that, right, you know, being curious, asking questions, having this growth mindset is really key. That is the foundational step to investing in yourself. And phase two, we then move into, which is all the six forms of capital that we talked about. You know, how can we increase, right, our intellectual capital, our emotional capital, our spiritual capital, these other things that are really such key drivers to me of, you know, overall net worth, really what that looks like.

And phase three, we move into actually creating a team and infrastructure around your wealth. So how many of you out there actually have a dream team around your wealth? Do you have, you know, even if you have a million, 2,000,000, or 10,000,000, or 50,000,000, do you have a rock solid asset protection plan in place? That's bulletproof. You have kids right now, do you have and and you had a perilous event.

I mean, life changing event. Sorry to hear. But do you have an estate plan that's fully, you know, baked and ready to go with a great top notch attorney that understands real estate and alternatives for business owners? That's in place. And also, we love to use the infinite banking strategy, cash value of whole life insurance.

I'm sure you've had some guests talk about that, but we help people set that up as well so you can actually create, you know, control of banking inside yourself. You can invest in in other assets and use the same dollar twice. You've got estate planning and pieces there. So that is really core in terms of that infrastructure and building a team, And I'll pause there before we go into the last phases.

Trent: I just wanna applaud you for talking about the growth mindset and I guess emphasizing how important that is for someone's success. Because if you're if you're limiting yourself between the ears, it's gonna be very difficult to achieve the goals that you wanna achieve. So I just wanted to applaud you for saying that. I'm a huge proponent and believer of the growth mindset and and setting your goals high and and working to get to those goals. And if you're if you're selling yourself short and limiting yourself between the ears, it's it's gonna be very, very difficult to achieve things that you you set out to achieve.

Dave: Yeah. The most important real estate is that right between your ears.

Trent: Mhmm.

Dave: Right? And whether you're an active investor or a passive investor, 80% of this game, it's all psychology. It's all how you think. It really is. I mean, you know, you read like, if you read, The Road Less Stupid by Keith Cunningham, who was Kiyosaki's, one of his original mentors, and you know, probably one of the rich dad guys.

I mean, he he lost over 9 figures in real estate. Lost that, and then came back and made it up and even more. Right? So so can you can you possibly imagine that type of scenario? I know Rod Klief also.

Right? He he lost, like, 50,000,000. Right? And and totally came back from that. So it it just and and think about even people like Elon Musk.

Right? What is the difference between him and someone you went to high school with who's in the same town, the same set of friends, right, with the same lifestyle versus Elon Musk who's like, who knows what, you know, what planet he's going to next, you know, next week, what what he's going to create. I mean, it's just it's really amazing.

Trent: And that and a lot of those similarities are between the ears. And I think the people that are are successful that we see, you know, well known people that are successful, have one thing in common, and that's they believe that they could do it. And and and they did it. So that's, that's a very, very, very important piece to your wealth journey is believing that you can get there.

Dave: Yeah. So I'll cover phase four and five. This is where it gets really fun, Trent. So phase four, what I found through my journey and after talking to thousands of investors is that people might say, hey, this is all great, I'm working on my mindset or I wanna invest in real estate or some alternative asset, but I don't have any money. I don't have 50,000 to invest, I don't have capital sitting around.

Well, as I pointed out, you know, the majority of people have most of their assets in IRAs or four zero one k, some form of qualified government sponsored qualified plans. So phase four is all about asset repositioning. How can we look at your entire portfolio and reposition it to a higher yield and lower risk? So we have, for instance, right right now, one of the opportunities we have is actually a private credit fund, which is doing lending through private credit to small businesses that are growing. And this kicks out, you know, can kick out over, you know, 20% returns to investors.

So let's say, even if you take out a home equity line of credit on your house or even one of your rental properties, and you're borrowing even at today's rates of, you know, whatever you wanna call it, 9%, but you can now move that up to over 20%, increase your mortgage interest deduction, and also increase the yield, right, and even above servicing the debt, right, this is how we can really optimize things. And then also, by the way, moving into a non correlated asset that's not tied to the stock market. Right? And the same would go hold true to say a four zero one k. Right?

I'm sure your listeners are keen, have heard about self directed IRAs. That's another option. We actually even have a four zero one k exit calculator. And I'll put a disclaimer, I'm not a financial advisor or a CPA, but what I simply did was create a calculator and create some math around this scenario that said, well, even if I paid a 10% penalty on my four zero one k and pay the taxes now, when would I break even? And if my assumptions are right, where would I be actually over time?

And it's amazing because if you run out that scenario, if you take a 100 k, you paid let's say you have a net investable 55 k after taxes and fees, and you put that in solid syndications that were giving you tax free compounding, you'd be over 2,000,000 in twenty years. And if I compare that to just leaving it into into the stocks, which were making seven and a half percent really, which they've done historically right over a twenty year period, that's about 386,000. Right? So which scenario would you rather take? Right?

And not to put all your eggs in one basket, but it definitely gives you an opportunity to rethink how is my portfolio situated today? Can I optimize the yields? Can I lower my risk? And can I reduce my taxes? You know?

Those are the three, you know, big levers we look at in asset repositioning. And then lastly, Trent, the the fun one is phase five where we talk about building massive passive income. So how can we diversify into non correlated assets from the stock market that give us really a trifecta of a return, such as cash flow, tax efficiency, and forced appreciation. Right? And we all understand this model being that's why we invest in real estate.

But did you know there's some other asset classes that do that? For instance, you know, oil and gas. We've placed probably over 25,000,000 into oil and gas in a couple years alone because you can actually take, up to a 100% of your investment and offset active income. So if you're a w two high income earner, your spouse, you've got active income in your family, you can completely offset that. And you're now investing, again, you're you're not all invested in real estate or in stocks, you have a different commodity that you're invested in that's also providing passive income and has some upside potential.

Right? So looking at different, opportunities, and as much as we love real estate, totally love real estate as well, But we we've all learned, if you haven't been through a cycle recently, you know, we're seeing some of the challenges in multifamily these days. And we're that that interest rate risk is a high risk when you're playing the game of real estate. So that debt can be a double edged sword. So why not kind of, again, diversify into some other asset classes?

Our thesis is really around energy, private credit debt, and also real estate. Those are the key ones that we like.

Trent: So Dave, hypothetical scenario here, you know, we're gonna use that that 55,000 net investable after taxes and fees. Let's say someone is is just starting their journey and is is following the plan. Is there an asset class that you would, I guess, recommend or think about investing if you were in that situation as your first investment after liquidating your $4.00 1 k?

Dave: Well, if you're not accredited yet, the biggest thing you have to figure out is how to get accredited. So if anyone's ever played the cash flow game, right, that's all about moving into the outer circle of the game, which is accredited deals. That's where you see the best opportunities and you can get access to those. If you're non accredited, you know, I really think the fastest way to really grow your capital, of course, outside of starting a business or, you know, if you and your wife have a great, you know, high income jobs that you can meet from an income standpoint, you know, real estate lends itself really well with things like, you know, fix and flip and bur. I mean, my oldest daughter who's 26, she she literally so I mean, this is what's so great about this trend, right?

Like, I love really empowering people by thinking differently. So we obviously talk about this in our household all the time, right? We strategize and mastermind about all these things. So just follow this story for a minute, right? So she was going to college, she went to Virginia Tech, worked during the summers.

We had her actually set up an infinite banking life insurance policy during college, which she contributed her money to during the summers, funded the policy for a couple of years. When she graduated right at 22 years old, her and her boyfriend, who's now her husband, bought a house in Knoxville, Tennessee. They did basically a fix and flip on this thing, and renovated the property for like eighteen months, and then and they then sold the property and made like over 130,000 that they put on their balance sheet, right, in like eighteen months just after college. Now if you compare that to what kids are normally doing, even if they get out of college and they're making, you know, a $100 at a job, to actually put that on your balance sheet would take a lot of years of saving 20% after taxes, you know, just to be able to get there. So she was able to put that on her balance sheet.

They then, paid back off the Infinite Banking policy that they had borrowed, so then they flushed that up, and then they went and bought their next one in Nashville, Tennessee. And now they're on their third one in Charlotte. And this is literally in just, you know, the past couple of years. The other property is being rented out now, so she's got a cash flow coming in. She's positioned, tax efficiently.

So that's my recommendation to people who are starting out, is learn everything you possibly can investing in yourself, and then look at maybe some of those other opportunities like, you know, real estate has to get to that accredited level as soon as possible.

Trent: I want to say thank you for sharing that story, because I think a lot of kids or young adults just getting out of college are seeing the world that we're in. And you see it all over social media, the jokes about, you know, my my grandpa bought his house for a bag of corn back in the day. How am I ever gonna buy a house? It's doable. It's possible.

And you can use real estate to grow your balance sheet a lot faster than just penny penny pinching your way to it. So I I I appreciate you sharing that. And you said your daughter's what? 26 now? So Yeah.

I mean, she's got life ahead of her and was able to get started right away, which is awesome. Awesome to hear. Yep. Well, Dave, is there anything else you want to share with the listeners today?

Dave: You know, I think in closing thoughts, Trent, I'd really just like to, you know, emphasize a couple of points, you know, one, get clear on your vision statement. The first thing you do when you go into Google Maps is you know where you are, but the only reason it works is because you have a destination, and you're able to get there. So get really clear on what that vision is, and then start investing in yourself, and make that paradigm shift, and understand that you are your greatest asset. Start working on your mindset. That's where that's where it all starts.

The numbers will come over time. It doesn't happen overnight. Building wealth is a process. But the more that you can learn and understand about yourself, self awareness, really the psychology of all of this, the faster you're gonna grow.

Trent: Absolutely. And Dave, where can people hear more from you or connect with you?

Dave: Yeah. What I wanted to do, Trent, is, make a special offer to your audience, and if they could download, a free copy of our book at holisticwealthstrategy.com.

Trent: Very nice. And we'll make sure we link that in the show notes. So definitely go grab a copy of the holistic wealth strategy. I myself will be will be reading it for sure after our conversation. So Dave, thank you so much for joining us today.

Dave: Thanks, Trent. Really appreciate the opportunity.

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Trent: the show.

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