Jay pre-edit

Dave and Scott are excited to have their second guest, Jay Lawrence, an investment manager, on their podcast. They discuss the importance of seeking financial advice and the lack of financial education in schools. Jay emphasizes the benefits of starting to save and invest early, especially for retirement. He explains how compounding and time can significantly increase wealth. Scott mentions a concept called consumption smoothing, where you spend money throughout your life rather than waiting until retirement. Jay argues that it's important to find a balance between enjoying the present and preparing for the future. Dave. How you doing mate? I'm good mate. I'm excited. I'm also very excited. Oh gosh, because you're talking over me. Sorry. I'm so sorry. Dave. Scott. How you doing? I'm good, thank you. How are you? Good. I'm really excited today. Are you? Yeah. Generally? I just had a really good day. No, it's more because we've got our second ever guest on. Yeah, and that means that we now have two people listening, which is... That's more than we ever thought. It's a big markup. It's a big markup. So there's our two, Jenny and our guest today. Do you want to welcome our guest today? Yes, it's Jay Lawrence. Hello Jay. Welcome guys. Thanks for having me. So today's pod is going to be a finance episode. Obviously, it's going to be very interesting, probably more interesting than Jenny. I would be very surprised. And unfortunately for you Dave, you are going to be bored out of your mind on this one. Yeah. I mean, I might be slightly bored with the topic, but at least it's not just Scott. At least there'll be some banter here today. It's going to be an improvement. No, thank you very much Jay for coming. Jay and I used to work together. Jay is an investment manager, works for one of the UK's largest wealth managers. So yeah, thanks Jay. Thanks for coming. Appreciate you. Thanks for having me. Yeah. Appreciate your time. Do you just want to give a little intro of who you are? Yeah, I guess I'll start by saying that I'm a professional investor, which means that I get paid to look after other people's money for them. And you'd be surprised by the number of people in the UK who don't seek financial advice or professional investment advice. A number of people in the UK just either don't focus on it at all, or they just try and figure it out themselves. So that's where I come in and try to sort of bridge that gap between those people who don't have the knowledge and then the people that do. I'll be very honest, despite doing a few episodes of this podcast, I'm definitely one of those people that just tries to hit and hope with financial stuff. I'm getting better. Scott's advice is helping, but absolutely I can resonate with that person who just attacks it, which I've never advised people to do with their health, but for some reason with my money, I do so. For some reason we think we've got it all figured out. It'll be fine. That's a really good point because it's like, as you say, you'd go to a doctor if you had an injury. You'd go to a mechanic if you fucked your car. But people don't always go to a professional to sort out their money. It's a weird kind of culture thing. I don't know. Why is that? Well, one of the issues probably in the UK is that we don't teach it in schools. So the earlier you start to invest and to save, the greater your potential is that you're going to have a large portion of money at the end of your career. And that's something that we don't think about and take seriously. And like I said, it's not taught, so it's something we have to figure out for ourselves. It's usually when people start to earn money and a serious amount of money that they start to think about, what do I do with this extra money? Everyone knows about bank accounts that pay a high level of interest, but some people don't understand about the stock market they think is risky. However, everybody should be contributing, for example, to a pension. And the earlier you start to put money away into a pension, the greater the time that is invested and then the greater time for that to compound over time and then to create money in the future. And particularly when it's your retirement, you want as much money there as possible. I think one of the key things that we don't think about is that, and it's the same with your health as well, is that we're expected to live a lot longer now. The average life expectancy is probably in its 80s now, where, for example, when the pension was first introduced, the average life expectancy was just nine years. So now we have to live longer and provide for that in a much longer time span than ever before. And it'll be the same for you in the profession that you do that, is where we need our bodies to be able to live longer. And we need to be able to make sure that we're not looking after our bodies now just to get us to 60, 70 years old, but maybe even to 90 years old. And if you've got grandchildren in the future, you want to be able to pick them up. I don't think everyone will be able to do that if they just do nothing and just sit there and hope for the best. No, it's a great point. I'm always using that kind of analogy and that phrase of making sure, for example, weight training when people get older. And I always use that activity of, yeah, do you want to be able to pick your grandchild up? Invest in your body now for the future. And you saying that, and I know exactly, I completely agree with what you've just said. And yet, I feel like a bit of a mug and I feel that you two are about to just shake your heads at me because when I first qualified as a physio and joined the NHS, there's an NHS pension, which is pretty good. As pensions go, I believe, they pay into it quite a bit of money. I was 23, just finished my Master's, spent quite a lot of money travelling, came to live in London and was like, do I want to put X amount a month into this pension that is going to come back to me a long time away or fuck it, let's opt out, have the money and enjoy the next few years, which I did. But on the opposite side, the advice that you're giving to your clients is to essentially invest in their body for the future. And without trying to get too boring about this, going back to that compounding element, if you start saving £400 a month when you're 30 years old, so let's say 35 years old, and you invest 30 years, £400 a month translates roughly to about £600,000 in retirement. If you started that journey just 10 years earlier, and it compounds at 7% a year, which is quite a modest amount, you'd have over a million pounds. So it's almost double. If you can generate an interest or a return on your money of 7% a year, it would double every 10 years. So if you can get to a position in 30 years, with an extra 10 years, it will be worth double that. So the earlier you start to save, the better. And that's what we need to start taking seriously, I think. Financial advice or awareness is the sooner you start making those sacrifices, the more you're going to have in the future. Can I say something controversial? So I recently found out about a concept called consumption smoothing, which I've stolen. It's a red book called Die With Zero. It's written by this hedge fund manager who essentially is saying that he's made tons of money, and his whole thesis is that why die with loads of money? What's the point? You want to spend it all before you die, and if possible, you want to spend it literally to the pound. On the day you die, you want to go to literally zero. If you can get it to that, you've basically conquered life, because that means that you've spent it on things that you want to do and all this kind of stuff. And the idea of consumption smoothing is that when he first became an investment analyst, he had a mate who, they were both 24 or something, and his mate was like, right, I'm going to go travelling for the next year or something like that, and he said, why don't you come with me? And he was like, no way. I've got this plan in my head. If I stick to this path in this investment bank, I'm going to earn X, Y, and Z by 30 years old. I'm going to be able to have loads of money, and then I can do it afterwards. And his mate went away, went travelling, had a really great time. He got back and pretty much got back into the same role a year later, spent all his money, didn't have anything left, but he just got back into his role, started working again. The guy that wrote the book got to 30, and he was like, right, now I'm ready. I've done what I want to do. I can now afford to go travelling and do what I want to do. And so he goes, and he goes to like backpacking hostels and like all this kind of stuff. But he said that my experience was so much more different because of my age from when I was 24 to when I was 30, that I was trying to live out the experiences whilst I was 24, whilst I was 30. So I just didn't enjoy it as much. Like I'm 30, I don't want to be spending time in like some £6 a night hostel with like all these teenagers kind of thing. And he's probably gone through, he's gone through those years of nicer things. Yeah, yeah. Rather than just come straight out of uni, you don't mind those hostels. Exactly. You don't really care. And so his concept is that you, on average, exponentially earn more money as you get older. And he says that whilst you're younger, almost take from your future self, spend it now. This is my philosophy. I was right. I'm with Scott's philosophy. I'm out of the office. Sorry. It's Joe to persuade us, basically. It's just the concept of that you can, instead of getting to your retirement, your 60, and then start spending, or when you have money, then start spending, it's, because if you think about it on a graph, you kind of go, no spending, no spending, and then boom, I can start spending money. If you're just smoothing out that consumption as you're like giving a certain age and as you get older, if you then, when you are 30, assuming you haven't put any money into a pension, for instance, you disproportionately put more into it to almost compensate for the money you didn't put in. Because if you're earning, you know, you start work and you're earning 20 grand, you can only put, you can only afford to put like 200 pounds a month away. But when you're 30 and you're earning, say, 60, 70 grand, you can now afford to put 1,000 pounds away or something like that, making up these numbers. But it's an interesting concept of like, I get you, obviously you will lose out on potentially seven to 10 years performance, which is something you have to be aware of, but are you also missing out on experiences? That is a question. Yeah. And what's more important? I think it's horses for courses, isn't it? It depends on what you prioritize. Now, I think the way that my brain has been programmed over the last 10 years is to probably start thinking about the future more. And I can use a tangible example of my parents who have started to save for their retirement much later in life, and they're playing catch up now. Now, they do have a lot more disposable income because kids have left home, they've got higher salaries now because they're older, but they are now putting disproportionately more of their money into a pension. But they are literally now just playing catch up in the last, say, 10 years before retirement. And the one piece of advice I think they wish they'd given themselves when they were younger is to have started that process earlier. But at the same time, we now have a very globalized world. We can jump on a flight to South America for like probably 500 pounds now. It is a huge temptation now for us to go out there and enjoy ourselves. We all live through Instagram and TikTok and things like this and see all these amazing places to go to. So I think there is definitely a temptation to consume as opposed to save. But I think there also needs to be that balance there because I don't know what the outcome looks like as if when you get to 65 years old, you have to continue working, for example. Or in the case of you, Dave, you get to 70 years old and your body is just not capable of looking after itself for the next 20 years. And I feel like you have to have that balance and you have to be able to do something today so that your future self will thank you for it. Yeah, I think balance is probably a key word. I'm definitely not saying to people, go and get that balance. I was not expecting this. I was like, finally someone on my side. Definitely don't take that as go and get a massive loan and go and travel. So what you're saying is, if we can condense these little clips down and basically make it sound that Scott's just said, fuck saving money, go out and spend, go to South America. There you go. And I've actually done that in the reverse way around because I went straight into work and rather than doing the gap year thing where you go and travel around to the cheapest places you can find, I actually did that in my late twenties and early thirties. And I have to admit when you do it with a bit more money, it's so much nicer. I've been in hostels that are literally like a couple of dollars a night or something along those lines. I've also spent a little bit more and had a bit more luxury and that experience is also quite nice. Yeah. Well, this is going down a rabbit hole. I really didn't think that. But to appreciate the good stuff, you've got to have had the shit stuff, right? True. So when we went, Scott and I went travelling to South America when we were what, 20, kind of 23-ish, wasn't it? Yeah, around that. And we stayed in a lot of, us two and another mate, stayed in a lot of really, really terrible places. And then weirdly, on our last night, the flight, because we'd just finished the Inca Trail and the flight home from Peru got cancelled because of wind. So they put us up in this five-star hotel and there were all these people in the queue crying their eyes out because they couldn't get back to their family. And we were like, been away for three months. We got a room to ourselves, double beds, baths. It was the best hotel experience of my life. We all had separate baths, say separate. And we all just texted each other in the bath being like, this is amazing. But yeah, I think, away from chat about travelling and hotels and hospitals versus hotels, I've got a question. When I made that decision a little while ago, initially to go, nah, I don't, I'm not going to put the money into pension. Let's think about today's Dave and future Dave can worry about it at another point. I've wisen up and I have changed my philosophy on that. But at that point, I did also have this little thought in my mind of, yeah, the NHS pension's good. But if I took some money a month and invested it somewhere, obviously rather than a public pension or a company pension, what's the opinion on maybe taking whatever percent of my earnings would be going into my pension automatically versus investing that money with some advice from one of you guys, for example? I think that what you're really looking at there is, are you going to lock it away into a pension where you cannot touch it for the next 30, 40 years? Or do you want to put it into something which is a bit more liquid and easier to access so that if you do have an emergency, you can't take money out of your pension in an emergency. But if you invested it in a separate vehicle, an ISA, for example, or just invested it into a stocks and shares account, then you could easily liquidate that and take it out whenever you want and use it almost as a savings fund. And there are merits for doing both. You get tax relief if you do it for a pension. So you would just get to essentially whatever money you pay to whatever your marginal rate of income tax is, the government adds that on top and puts it in there. So again, you're getting that additional enhanced benefit for the future, but it's for the future. And for the future, there's a very, very long way away if you're in your 20s or your 30s. And it's very, very difficult to think about. Sticking on, so let me just jump in. I've got another controversial question. So if you're listening and you're kind of early 20s or early to mid-20s and you've just got your first job, you're on a pretty kind of entry-level salary, I'd like to get both your opinions here. And again, this is something else that I've heard recently from another podcast. And instead of investing what small money you might have to put into something, whether it's a pension or an ISA, should you be investing in the S&Me 500? Okay, I've stolen that. And what I mean by the S&Me 500, instead of the S&P- Who's making things up now? This is a good point. So the S&Me 500 is investing in yourself. Okay, so when you're early on and you might not have any industry qualifications yet, you might not have certain other experiences and skill sets. Instead of, say, putting 200 pounds a month, right? If you said, right, I work in finance. Okay, one of the standard routes to go down, and this is if your company didn't pay for it and stuff, you could go and pay for an industry-level qualification, which on average will put your salary up by X amount, okay? So if you're earning, say, 10% on the S&P on average, just per year as a number, if you could, say, increase your salary from 20 to 30 grand, that return from that investment is actually a lot better. So the question is, and this is not a yes or a no, just like what are your thoughts on if you are on that stage of your life, and I guess that's a very specific question, is that should you actually be investing in yourself? Because you probably will get a far better return that way than the other way. I don't know. Just throw it out there. Well, I think all of us in this room have probably done that in some capacity. Scott, me and you have taken post-graduate professional qualifications, and Dave, I'm guessing you've done something very similar. Yeah, loads of extra courses, different tuition days, things like that, to improve myself as a physio and a clinician so that I've got more respect in the industry and I'm ultimately, I guess, going to make more money. In my opinion on it, it's very much, I like that philosophy because I'm investing, it's a bit of a gamble, but it's in something I enjoy. It's in the industry. It kind of aligns with what I want to be good at. So I'm going to invest money to potentially make more money, as you said, but also I'm going to enjoy that process a little bit more, a little bit like recently I've pumped, instead of saving money, I've been pumping money into making a business, which hopefully one day will make me more money than if I had not taken that risk. Use the word gamble there as well, but it's certainly much less of a gamble if you're investing into yourself because as long as you back yourself, you know that fundamentally there's going to be a tangible benefit at the end of it. There's not a guaranteed tangible benefit, but there is going to be something that you can say, I'm going to work hard at this and I'm going to put money into myself and I'm going to make this work and the chances of succeeding are probably much higher. Do you think the marginal gain of doing that starts to diminish the older, more experienced you get as you gain more skills or do you think it is just like you can continue building skillsets and qualifications forever? Question to both of you as well. I think, and actually as a physio, it doesn't happen all the time, but you can legally get called up at any point to go, right, in the last two years we want to see your CPD log, what have you done, what extra courses, what reading, what podcasts, we need evidence that you have invested in the most recent evidence in healthcare. Obviously healthcare is a constantly updating profession, so the CSP could ring me up tomorrow and go, right, we need your two-year CPD folder of all the stuff you've done. So I'm kind of, in a good way, forced to do it and I actually think it's funny in that experience and time are always the same thing. You can do a job for ages but not change your ideas, not challenge yourself. I unfortunately know physios that still do things that physios did 30 years ago, which has kind of been proved to be nonsense. You know, therapeutic ultrasound, rubbing ultrasound on someone's knee and it's going to promote tissue healing. No evidence for it. You know, if you read any paper in the last 30 years, however, people are still doing it. So I think going back to your question, you're not going to, from a financial point of view, as you get more experienced, you might feel you don't need to do those things to keep your professional development up, but I think it's just as important, maybe less so from a financial point of view though. Kind of went on a tangent there, didn't I? But you've also gone down a tangent which I think is quite important, which is I certainly see it from the healthcare side of things that how much has changed in the last, say, 30 years as evidence has become more apparent, more studies are being done, we've got better analytical data available to us. And I've certainly seen that we've taken some concepts and almost flipped them upside down. And even if you look at, say, the food pyramid is a good example. Do you trust that the food pyramid today is the same? Well, what it was 30 years ago, it should be the same as it is today. I think that we've now looked at all the things like carbs and proteins and fats and stuff, and we can debunk some of those things. And it's probably exactly the same with the ultrasounds, as you say. Do you think there's been a lot of change in your industry? There has. I think, I'm sure we're going to all get onto a social media rant in a minute, but maybe I'm in an echo chamber and I follow the things that I agree with a little bit in the health and fitness industry, but there's a lot more promotion around exercise, strength and conditioning, good strength and conditioning stuff out there. Whereas I think previously the physio world, the chiropractic world was very hands-on treatment. And actually the evidence has gone, that stuff plays a part, but isn't the primary focus. And I think, again, whether it's an echo chamber, but I think better information is getting out there. And it's less easy to live in the dark ages as a therapist, because you get found out nowadays, and people will go, no, nonsense, call it out. Interestingly, when I met a physio for the first time, we were talking about something and I said, oh, you do basically massaging, don't you? And they laughed in my face. It's one way to make a slight nibble. And he was like, no. And then actually when, and I think lockdown taught me this a lot. And Scott, me and Scott were actually travelling in America around this time last year, actually. And I sprained my ankle quite bad. And then we were going, you remember the story. How did you do it, Jay? I'm not going to go into it now. I really want to see it more proper. Funnily enough, it actually did involve one of these sort of like pseudo sciences that's very popular these days, which is going for a cold dip in the ocean. And I sort of got swept out. I had a bit of a rip time trying to get in. But I actually sprained both of my ankles post lockdown. And I don't think that's a coincidence that we sat indoors for, say, two years. And we didn't get much exercise. Muscles weakened and we got out of the habit. The first one was playing football. The second one was on holiday. And when I got proper treatment, it was all about identifying the muscles in the body, which had essentially gone to sleep, that were no longer working or no longer activated or weak. And that is the complete opposite to what I believed when I was younger about physiotherapy. Because I thought that physiotherapy, you go and you get like a sports massage. And then actually now it's like the science is you go and have, or you go and do restorative or like you build yourself up and you get the foundations right so that you can perform better. Yeah. The phrase I always use is I want really the aim of physio for me. Let's say an acute injury like spraining your ankle, the tissue's going to heal. And that takes time. And there's a few methods maybe. And this could be a controversial topic and go on for ages. But there are things we can do to aid that process and speed that up slightly. But it's still just time that's going to do its thing. But the really important thing as a physio is go identify why you've sprained your ankle. What can we do to make sure you don't do it again? It's like a proactive approach rather than a reactive approach. And I still think unfortunately the medical system in this country becomes very reactive. You go and see a doctor, they give you some pills. And they haven't got time to really educate around loads of different factors. But yeah, absolutely. In those early stages a little bit of hands-on massage work might help. But the real key of being a good physio is identifying those roots, not just treating the symptoms. Treat the causes. Get somebody in a better place than when they first walked into your room. How much of this do you think is what we've seen from our parents' generation? Because I look at our parents' generation and think to myself they're nowhere near as active as we are. It's not necessarily for everybody. That would be different. But I think generally speaking we as a generation are a lot more active. And maybe it's because we're younger. And maybe we don't know what we'll look like in the future, whether we'll still be exercising. But I think there's a lot more information now. There's a lot more, particularly on social media, there are a lot more people like influencers who are becoming famous from health and fitness in some capacity. And I was very lucky to have actually found a YouTube channel about stretching. And that got me into a really good stretching routine in lockdown. And it's something I've kept up since. And I would say it's like a game changer for my body. And I'm hoping to continue that probably for the next 20, 30 years. I want to be mobile and I want to be relatively supple going into my later years. But what do you think? Do you think that there's a bit of a disparity between the way that we view health and fitness as a younger generation relative to our parents? I think so. I think we are still not as good as we should be. Again, like you said about finance, this stuff is still not really taught in schools. It's one of the big ones to have frequently. But PE, for us, we went to the same school, was very much, there's a football, go and play football. There was no education around exercise, health, strengthening, flexibility. But you can build biology in and make biology fun rather than it being in a classroom setting. I always say anatomical literacy or biological literacy of what people have always surprises me. Sometimes people have loads of knowledge and really great knowledge if they've done sport from an early age. But people come in and they go, I'm going to stretch your quadriceps. And they look at me like I've said something in a foreign language. And none of that stuff is taught in school, you know, about your body, about looking after yourself. I feel PE is all games-based. I guess where a lot of people are now getting this self-education is through internet, right? And it's through social media influencers. Because I think if you're into bodybuilding, you're going to be following a load of bodybuilders. If you're into trading, you're going to be following a load of trading influencers who are going to give you tips and stuff like that. And that's where people seem to just be getting this information from rather than, as you say, in school. It's really interesting. You just need to be, whereas school education is very vetted and it's very structured, the internet isn't. There's a lot of bro sites in there, particularly in the bodybuilding community. There is a lot of what you should be eating and drinking and workouts you should be doing. It's probably relevant to the person, but there should be a fundamental set of principles that you can follow. And it's the same in your finances as well. There should be a fundamental set of principles that you could follow with that. So I've actually got some stats on the percentage of Gen Z who get their financial education from TikTok. Do you want to guess? I'm going to guess it's over 75%. What age did you say? Gen Z. I don't even know what that means. 18-ish? I'm going to go with 50%. 80% according to this website. And I think there's another stat, and this is from the FCA actually, from their website. It was like 56% of under 40s get their financial education from podcasts, from the internet basically. Podcasts like this. But it's just like, that is such a high number that there's going to be a lot of shit in there that people are going to take for granted. And I think we kind of started to touch on it through lockdown. And we're going to kind of note this is that crypto was like going off, right? And it seemed as though that every man and his dog had a new crypto that said it's going to the moon. So you need to be investing in it. I'm just going to put it out there. I got caught up in one of these as well. I actually invested into one that somebody on Twitter was pumping really hard, and it ended up being a scam. And I've actually, and I didn't put much money into it, but I lost money to a scam on a crypto literally in 2020, like a crypto grifter. And it's like, again, I think at one point like Kim Kardashian was actually promoting cryptocurrencies on her Instagram. Like it was that mental. I think that's the crazy thing. It gets to me. So it really boils my blood again. I'm more thinking of the health and fitness industry. But the same with this, like how impressionable young people are, especially when celebrities have fuck all knowledge about, you know, no qualifications. They're not the people that should be the ones being listened to. I'm not pooping crypto at all, by the way. I think it's, you know, there's potential good that can come out of it. And just because it's down at the moment, like it's not, I'm not just going to say I don't invest in it, whatever. I think you need to make your own informed decision on that one. But I think it was very hard not to get caught up in some kind of social media like wave and just being like, yeah, that seems like it's a really good investment. Because everyone says it's a good investment. So it must be a good investment. When you see all your friends making money and you get FOMO and everyone falls into this trap as well. Everyone gets FOMO when their friends are talking about something or they're making loads of money and you're not. And you're sitting there on the sidelines. And it always seems to be the moment when you get involved is when it goes to shit. Yeah, yeah, yeah. Yeah, it's interesting. I mean, that's just the surface. Have you heard of the fire movement? Not fire festival. He's making a comeback as well, isn't he? This is how gullible people are though. That guy is literally out of prison. He's written a manifesto in prison and he's now doing fire festival too. And he's selling tickets, again, selling tickets. I'm excited for the Netflix documentary. I'm excited. Yeah, you've got tickets. People have got cognitive dissonance. That's the problem. They just, yeah. And some people almost can't be helped. Yeah, that's a good phrase. I think some people can't be helped, unfortunately. So there's a movement called fire, which is financial independence, retire early. Have you heard of that? I've come across this, yeah. Yeah, and... Eat less avocados and save... Kind of, yeah. ...and don't drink too much coffee. I came across it a while ago. I was like... I mean, the concept is great. It's like basically stop the trend of people working to 65, then retiring. It's like if you can almost scrimp and save for the 10 to 15 years and literally have... It sounds like a really boring life. Never go out, save everything, live so far below your means that you're eating rice every single day. But by the time you're 35, you're going to have saved enough money in your retirement account or whatever to then essentially live off of that for however long. It's an interesting movement. It's an interesting movement, and I think it was really popular at one point. I think it's kind of on the down. People are like, oh, it's actually really hard. What I'm seeing now in my social media is people who are trying to get off the grid, and they believe in everything they've been taught so far from the mainstream media and mainstream education has failed them, and all they want to do is to go and be farmers on a ranch in Texas, drinking raw milk, like the Liver King. Good example right now, the Liver King, who was literally eating raw liver. Now, I don't know what the benefits of this are, but I looked at a photo of the dude, and he was jacked out of his eyeballs. I'm guessing you've both seen him. Even Joe Rogan, I remember, was asked on a podcast about him, is he natural or whatever, and he was like, well, of course he's fucking not. You could see that people are buying into this. People are buying his supplements. People are following him. I don't know if I should say this on the podcast, but I've got a friend who was engaging with somebody on Twitter. Name him. He was engaging with one of these people on Twitter the other day, being like, oh, you fast for like eight days a week or whatever. Mate, stop believing this bullshit, because you can see this guy is taking some form of performance-enhancing drugs, and this is unobtainable for the normal person. He is not getting there through just fasting all the time and eating just one day a week, or whatever this guy was doing. Unfortunately, people are being sucked in by these very difficult-to-achieve objectives, or bodies, or whatever it will be, or financial gains. But they're seeing it, and they think that it's real, simply because somebody on social media has it or is doing it, or allegedly doing it. I think there's loads of really good points to unpack there. Number one, there's the kind of confirmation bias that if you start to believe something, and then you see somebody who says that they're doing that thing, you go, absolutely great, that has just confirmed what I believed. What you don't see is the other 99 people out of 100 that that's not working for, because they're not posting about it, it's fucking up for them. But yeah, there's also that real issue of just pure lies, really. Again, Liver King is a great example. Someone is clearly on performance-enhancing drugs, but saying he's doing it through other means. And it just, to me, just shouldn't be legal. And in our industry, the finance world, that is illegal. But there are unregulated industries out there, and crypto being one of them, and healthcare should be very regulated, but there are people on there who are selling something or doing something, or trying to say that traditional education has let them down, and you should be doing it the other way. Essentially, we've been lied to that the majority of the world is now obese or whatever, and we should be doing the opposite. Like I said, the guy who's eating raw liver literally with his hands. So my dad called me the other day, and I was like, All right, Dad, how you doing? He's like, Yeah, yeah, I'm good. I've got a question for you. I was like, Yeah, go on. And he's like, I had an email from a guy saying you could make me 400% return using this algorithm, and it was basically guaranteed. So I've got a callback in the next hour, and I was like, Right. And he's basically saying that, Yeah, it seems like a really good deal. What do you reckon? I want to run it by you first before I've got the callback. And I was like, It's such a shame that people can get sucked into this stuff. My dad just being an example, he's an older man who isn't the best on the internet. It's not just young people who are impressionable. It is older people as well who don't fully understand and will get done by these kind of scams almost, where they are proper scams. I'm not saying algo trading doesn't work. I'm just saying you can't ever guarantee a certain return. It's just not a thing. So if you ever do see someone saying guaranteed returns, that's almost impossible, right? Unless it's a government bond or something like that, where it's almost guaranteed because it's backed up by the government. I just kind of said to him, Please just say you're not interested. If it sounds too good to be true. Yeah, it probably is. And do you know what? Sometimes you do just need to step back. Because I was like, Dad, that's so stupid. I was like, Why are you doing this? But then I kind of had the same thing with, again, getting back to crypto, it seemed too good to be true, really. Like if people, it's so volatile, where you're making 20-30% a day. It's like, that's not a normal return. And it's likely there's some kind of bubble coming where it could just all go completely the wrong way. So my brother phoned me up in lockdown. And he was like, I've been speaking to these people at work. He works in the construction industry. He's like, I've been speaking to these people at work. They're all telling me to buy Bitcoin. And at this point, I think it was like, I don't know, was it 60,000 or something? And I'm like, Mate, just don't do it. Just don't do it. And he's like, No, but they were saying that, you know, you don't know what you're talking about. And then sure enough, about six months later, the price is down to say $15,000. And I think sometimes you have to just, like you say, Scott, just remove yourself from it. Take a bird's eye view and say, does this look like something that's sustainable? Does it look like a bubble? Does it look like someone that could, it's all hype. But sometimes, and oftentimes, when everyone's speaking about it, it is. And there's the old, we have a quote in the industry, which is, I think it was JP Morgan or something back in the day, when his shoeshine guy was giving him stock tips. And this is right before the Great Depression. And he went back to the office and sold everything. And then this big crash came. And it's almost like a philosophy to live your life by, which is, if everyone's telling you to do it, kind of have a little bit of caution and try and be a bit of a contrarian and question it in those scenarios. And it only comes with experience and learning. I think you always have to go through those because like what our group chat, all our mates literally changed to Wall Street vets, I think, or whatever it was called. No one in that group chat, other than this specific point in time, was that interested in stuff like that. And all of a sudden, our actual group chat was changed to something financing. Probably at that point, we should have been like, hmm, that's a very good sign. So maybe this could go the opposite way. I think, again, we've called this podcast Seek Professional Help for a reason. Seek out advice which is unbiased. And it's so hard to find unbiased advice. But if anyone's trying to sell you anything, or they're going to gain from the advice they're giving you, there should always be some kind of pinch of salt in there. But also, I just think, that still blows my mind, what you just said about TikTok of like, how do we regulate these things online? There's the Instagram blue tick when someone gets a certain amount of likes and followers. But that's no credibility. People take it as credibility. But I almost feel that there should be some different color icon, where it's like, this person is an expert. They are a qualified physio. You can listen to their advice. Or for you guys, like, okay, this person is a qualified financial advice advisor. But you don't follow their advice. It's a really good point. And I think in, and I don't know if you're going to agree with this, but in, say, health industry, right, it's more, again, more so like, say, more specifically, medicine and kind of your industry, there is a right way of doing it generally. Like, you can kind of see input and output. I would say with finance and investment, investment beliefs between different people are very different. And neither are wrong, neither are right. It's very difficult. You can get two professionals who have very, very different views on what's going to happen. I mean, that is potentially the hardest part because you could have someone who has no real financial knowledge, thinking that they're in good hands and they're going to, you know, it's like going to a doctor. You're going to be, like, they're going to help you out. But they can have a very different belief. And beliefs change as well. Because I think, I mean, I'm sure you would say, Jay, like, it'd be interesting to hear, because my personal investment beliefs have changed a lot over the last five years, I'd say. If I look back five years to now, my whole philosophy is very, very different. So it'd be interesting to hear what you think on that. Yeah, we actually see quite a lot of clients who have had financial advice that hasn't been necessarily good financial advice. Like, it's been given by somebody who's not an investment professional. They're a financial planning professional. And we see some of these portfolios come to us. And even those guys have been investing into things that we wouldn't be doing today. And sometimes it's, for example, one is a home country bias in the UK, where just because we're based in the UK, we believe in investing in UK assets, UK investments. Now, if you were to ask me what the biggest companies in the world are, I probably wouldn't name a single British one. They're all going to be based in America. Now, portfolios that we see are skewed towards UK companies, despite the fact that the majority of the GDP in the world is generated overseas. And that's, again, that's a different philosophy. And it's a difference of opinion. In investing, you have this growth versus value and all these things. I think fundamentally, if you're just trying to start somewhere, and if we go back to the example of someone who's young and trying to invest their pension for the long term, having a low-cost global investment is probably very sensible in the stock market, a global tracker of some kind. And I think that that's where my mindset has been. The wiser I've got in this industry, the more I'm leaning towards biggest and best companies in the world and investing those for the long term, and with a low-cost tracker that continues to recalibrate as well, so it doesn't have to be set in stone. It's like the 1,000 biggest companies today. That will continuously fluctuate because the companies that are the biggest today aren't going to be the same ones that will be the biggest in 30 years' time. And I feel that just having that access to those biggest and best companies is probably the... You wouldn't go wrong with that when it's a low-cost solution, but trying to overcomplicate it, you can do that. And like I say, we do see some clients who come to us who have had, not to say the wrong financial advice, but it just is a different way that we would do it. But again, it doesn't necessarily mean that what we're doing is right. It's just a difference of opinion. Yeah, I think the belief thing is very interesting, I think. When I first started, and the reason I got into investing and why I kind of thought this is what I want to do is I got a trading account when I was about 16 or something. And I just started trading gold. And I was like, this is what it is. This is what I want to do. I made like 50 quid or something just thinking that gold looked low, so I bought it and that kind of thing. I eventually lost all the money in there. Then I was like, okay, day trading isn't for me. I'm going to try something else. Then I went into, I think... And as the years go, you did more exams. Then I started, all right, I can pick some stocks for the long term. So I started, I had a portfolio of stocks that I picked myself. So I was like, yeah, they're going to do well. I can stock pick. Turns out underperformed, didn't lose my money, but I underperformed what the market would have done. Then I kind of transitioned slowly into more, or I'm sticking with just funds rather than specific stocks now. It's a mix of passive and active funds. But me personally, this is not advice or anything. This is purely my opinion or what I've been doing is that I've kind of just literally, as you say, I've kind of just now moved into low-cost trackers. I can't really be bothered with anything else other than that, like keeping it as simple as possible, other than a couple of good active funds that I still hold and still like. But yeah, I mean, it's interesting just how your mind changes. And I guess with stuff that happens in the economy, you do just naturally realize that when everything's going up, it's easy to say I've done the right thing, I think is what I'm trying to say. I think that in this case, when you're taking a very long-term approach, slow and steady wins the race. In the short term, you're trying to predict things, it's maybe a bit different. But something which is boring and steady and then can compound over the long term. And the compounding element is vital when you're talking about, if I'm a 25 or 30-year-old today, and I'm thinking about retirement in 35, 40 years' time, compounding is so important and just having something which is low-cost and boring and just steadily investing. We don't have the time or the knowledge sometimes to be doing it ourselves and paying attention to it. And the amount of time it requires to understand specific stocks that you're investing into, the average person doesn't have that. It's our job. We have the access to the analytical data, the research analyst in the background, all this sort of stuff. Sometimes we have access to the CEOs, CFOs of these businesses as well. We have the time and the experience to be able to make those informed decisions. And if you don't, just put it into something which is very, very simple. I think I'm going to track right back here to talk about the question you asked earlier about our parents' view on health and fitness or in finance. And I think something that I observe about the younger generations, us compared to our parents, and the generations younger is impatience. I think we've bred a society of quick gratification, video games, completing levels, now, now, now, now, now, rather than, you know, it sounds like the actual best advice financially is, yeah, you might be able to get a quick win. You might be that person who puts their money on Bitcoin at that right moment. Great. But on average, if you put your money into something safer and look to play the long game, that's, you know, a bit less subject to failure, right? I think you've hit the nail on the head. Absolutely. And I think that if you can do that monthly, and then again, it's one of the things that a term in our industry is pound cost averaging. So if you are investing every month and you've got a certain amount of money that goes into your pension account or trading account or whatever, and it's automatically investing it, you smooth out the ups and the downs. Sometimes when the market's up, you're buying there, but sometimes when it's down, you're buying it automatic. And then taking away all of the admin, all the friction, just buying something that's low cost, doing it monthly and having as little barriers to entry and hurdles as possible, that will pay dividends in the future, literal dividends. So I've got a... Should we bin them anyway? Just turn that one off. Right. So just like changing conversation slightly, I've got my third controversial statement of the evening. We need some kind of controversial statement. And this is going to be pretty relevant probably for most of our listeners. And it's to do with buying a house. Okay? So obviously house prices are mental at the moment. It's very difficult to get on the housing ladder. I think our age range is probably looking at first-time buyer. But I really like renting. Okay? And this is the controversial thing that I'm going to say. Because when you rent, your rent is going to be the maximum you're ever going to pay. Whereas if you own your house and you pay your mortgage every month, your mortgage is the minimum you're ever going to pay. Because if something goes wrong, your house tile falls off or your washing machine breaks, you're going to have to pay for that or your insurance or whatever. But that's my kind of philosophy at the moment. Maybe it's just because I can't afford to buy a house in London. You don't London live enough. I could convince myself that it's better to rent forever. I loved it. And actually it's something that I hear so much. I even had a client say to me recently, I was talking about moving into a new place. And she says, don't you find it a waste of money to rent? And I said, no, not really. Because I've got optionality, for example. I can live in a part, now this is probably very specific to London. I'm not too sure whether this translates to other areas of the UK. But the London property market is insane. The rental market is crazy too. It's expensive. And if you want to be able to buy somewhere that you can afford to live in, you're probably looking at zones four or something like that. Somewhere a little bit further outside of where you want to live. Sometimes in areas that you don't enjoy living, but you're investing for the future and you're trying to find an area that hasn't been gentrified, for example, now and it's going to make money in the future. And I've seen friends who have bought properties in these areas and I look at it and I say, why did you do that? And I think it was okay to make these decisions when interest rates were low. But now interest rates are at, say, 5%. Buying an overvalued property and having, let's say, a half a million pound mortgage for a modest property in London, well, at 5%, that's 25 grand a year you're paying to the bank. So when my client says to me, don't you think it's a waste of money? I can live in a property that I want to live in, in an area of London that I want to live in, almost like I'm living in a property at the moment I can't afford to buy. And you're not tied to it. And I'm not tied to it and I can do what I want and I can also look for the right property to come along in the meantime. Or would I choose to pay the bank interest and maybe throw the question back to you two, out of those two scenarios, paying money to a landlord or paying money to the bank in interest, which one is a waste of money? I'll answer the question in a second. But let me throw you another question back, just to be controversial. So my response to that would be, just to play devil's advocate here, but Jay, investing in a property is a good investment and over time I'm going to make a lot more money. Why would I give my money to a landlord? Well, first of all, past performance is not an indicator of future performance. Get that one in there. In reality, you don't know. And it may go up in value. And there is obviously the temptation to buy a property because I think the reason, again, going back to a parent's analogy, we've sat there and seen our parents sit on a plot of land and some bricks and it literally transformed their life. My parents, I think, bought their first property for 27 grand. And then it's probably worth a minimum when they sold it or whatever of 10 times that. Do I think that if you bought a half a million pound property in London that in 20, 30 years' time it's going to be 10 times that? I'd be very surprised if I'm honest with you. And a half a million pound property in London doesn't really get you very much. It probably gets you a one bedroom flat. It's so depressing, isn't it? It's depressing. And I know that the property market in London is stagnated and one of my friends recently bought a place and this is hilarious when he was telling me, he made an offer below the asking price. And the chief of the agents come back to him and say, where did you get that value from? And that's not how offers work. I've made an offer because I'm making an offer to buy a property off you. And then he came back and said, well, actually, this is the value that he bought it for six years ago. He spent another 150,000 pounds on top of that doing it up. It should be worth at least that. And I think it was just like, no. Why? Just because you paid over the odds for it and then spent money on it doesn't mean that I have to then pay you back what you've invested in it in total. Seven years it's been and he sold it for less money than he bought it for in the first place and he's also invested 150,000 in doing it up. So I think there's a lesson there that property doesn't always go up. It can stagnate, particularly when it's really expensive and going back to that, the crypto element from earlier on, when is there a bubble? We don't know. I'm sure that we've been asking ourselves the same question probably for the last 20, 30 years, but they do feel unsustainable at the moment, property prices, particularly when interest rates are now at five, 6%. I don't see how people get onto the ladder without prices coming down. It is one of those things that it's almost, it's such a common belief though that it's been drilled into everyone and I guess it's back to kind of parents' areas that that is the main investment and on average it's most people's wealth is tied up in their property of that age group. But yeah, I think right now, I'm going to answer your question, the initial one, I think what people forget is that it costs money to buy, not just the amount of the property, it costs money to buy in terms of like exchanging, paying different fees, you've got to pay all sorts of things like that. Stamp duty. Stamp duty and unless you're going to stick in that particular property for a certain period of time, maybe four or five years, it doesn't really make financial sense because if you're saying, right, I'm in London, I'm probably only going to be here for two years. If you go and buy a house because you can afford it, you're actually probably going to end up paying a lot more because you've now got a new job in a different city somewhere and yeah, at the moment I think, and I guess that's where it comes to answering your question is it depends where you are in your life, where it works best for you. I think if you want to start a family and you're going to settle down and you know that you're going to be in a specific area for a long time, yeah, if you can afford it, go and buy something. But if you're still relatively young and you're not sure where you're going to be, I think renting is actually a good option and some people hate landlords but they do provide a service for people. I wouldn't necessarily, even if house prices were lower, would you want to be tied down somewhere and not being able to, like if you want to go travelling right now, you might not be able to if you couldn't rent, if you couldn't let it out. And that's the thing as well with stamp duty that's almost a deterrent because you have to pay that every time you move so you have to be making these decisions, I think, for the medium term about where you want to be living. And if I'm completely honest with you, sometimes I don't know where I want to live this time next year. No, I'm with you honestly. And again, going back to that globalised world where we can just pop up in a different country sometimes and just start a business or whatever. Well, get yourself a European girlfriend and you can do it that way. I'll look out for one. But no, and I think that having the optionality is, for me at least at this point in my life, is quite valuable. Cool, yeah. I'm going to just throw a whole new direction on this. It might not be as interesting for you. I don't understand. Talk me through, this is a really simple question, what an average day in the life of what you do is. Because I think as a physio people know what you do. People come and see you, you treat them in the treatment room, you take them to the gym, that kind of stuff. People can picture it. For you boys, I don't understand. What does a day look like? You know what, that is the mystique behind what we do. That actually deters quite a lot of people from investing or they see it as risky because there's not a lot of information. I think that having, looking through the glass at sometimes what we're doing, and it isn't all the six trading screens there. Bye, bye, bye. Exactly. Sometimes, particularly in the wealth management industry, there is a lot of client service. We might be seeing clients and there's a big onus on us to be going out there and doing annual reviews to make sure that what we're doing is suitable for our clients. Sometimes we are sitting there looking at trades on the portfolios and listening to research, and that's the really fun part of the job. Sometimes it's networking. Sometimes it's going out there trying to bring in new business and trying to educate people on what they could do with their finances to improve their situation. Because I think that for a lot of people, sometimes people don't even know the financial advice that they need, and it's about how you communicate that to make sure that people understand the importance of the service that you offer. There's one particular company that are really good at marketing, and they've just gone out there and managed to touch really emotional points with people about tax or family and inheritance tax and those sorts of things, and they've managed to generate a really, really strong business from it. It isn't all the glitz and the glamour that you might see on the Wall for Wall Street, which is all these people pounding the phones, but there is a lot more client servicing element to our job as well as the portfolio management on the side. We're not institutional in the job that I do. We are working in client-facing and working with families and your parents, for example, and it's about holding their hand through the process as much as it is investing in their portfolios. Yeah, that's a good question because I think before, even when I was in uni, I knew I wanted to get into finance, but I actually had no idea of day-to-day of what it would actually entail. People just wander around Wall Street. Yeah, I actually still thought it would be more about trading screens, getting on the phone, doing trades. As you say, Jay, you're kind of like, I almost see a wealth manager specifically a bit like a GP. You kind of know a lot about a little. No, a little about a lot, sorry. Is that right? Yeah. You've got a wide knowledge base, but you don't have a speciality. But your role is to meet with your patients or your clients and identify what their needs are, and then if needed, get a specialist in if you need it or if you can treat them there and then, you can do that. It's very much that kind of advisory role, isn't it? Yeah, you're just dealing with everyday people, really. I think that's kind of what you do on a day-to-day. Yeah, and actually, it's a really good point because in lockdown, being generalists and having to know a little about a lot, we became epidemiologists in COVID because fundamentally, your clients come to you expecting you to have an understanding about what's going on. And there are some things that can catch you completely blindsided, like a pandemic, for example, that we've not seen in our lifetime. And all of a sudden, you have to be processing the data and looking at the death count and these sorts of things and trying to work out how severe this is going to be for the economy because you're investing people's money at its core into the economy. You're investing into businesses. And how are those businesses going to be impacted? And do you have to completely transform your strategy or is what you've got going to be okay? And when the war between Russia and Ukraine last year kicked off, we had to be war experts and looking at like oil prices and these sorts of things. So our clients do come to us expecting us to have all of this information, exactly the same as you'd expect to go to a GP, but they are a general practitioner. Good analogy. It's a very good analogy, Scott. Who knew you had it in the tank? And it was related to health as well. So, Jay, we've just looked at the time and we've been talking for hours. We've been talking for ages already. And I think we could sit and do another hour and a half probably. I haven't actually been bored, if I'm honest. You've been really engaging. Thank you. Something that we want to add into the podcast is when we get guests on from a finance aspect, they can fire a question into me. A health guest comes in, they can fire a question to Scott or, you know, discuss something. So the floor is yours if you want to pop in this way. I guess, so, going back to the social media element, I am one of those people that is influenced by, I think, some adverts I've seen and Instagram, I think, in particular, is fantastic at giving you very targeted ads that you didn't know you needed, but then all of a sudden you want it. And one of those is, you've probably heard of it, the Vivo barefoot shoe, which is something I purchased and enjoying it quite a lot. I've seen the data that they provide about foot strength and ankle strength and those sorts of things. What do you think about that? Good question. I own a pair as well, to disclose. I own a pair as well. I want a pair. Where did it start for you? It's like a gateway drug, isn't it? I think I've always been a big advocate of exercising out of shoes. You know, I work in professional football and the foot is a really complex being, it has loads of muscles in it, and we have, society has, you know, obviously, we weren't, evolutionarily, we weren't designed to have shoes on. So, we've provided more and more supportive footwear, more and more cushioned footwear, and people have got weaker through their foot, they've stopped using their foot entirely. So, I'm actually an advocate of training in barefoot, it doesn't necessarily need to be that brand, to be honest, sometimes I just, we'll just go into the gym in socks, as long as I'm not pissing anyone off. But training, getting used to lifting and actually working on my balance and control, especially the one thing that I would advocate in terms of not spraining your ankle frequently, get your foot strong, get those fine movements better. So, yeah, from that standpoint, I'm a big advocate. However, the flip side of that is what I've seen quite a few people do, with fads, you know, they read something, they go from never training in barefoot to suddenly running loads of kilometres a week in barefoot shoes and suddenly overloading their foot to a massive degree and in a shed load of pain. So, it's like, like with anything, start small, maybe use them occasionally and gradually build up your tolerance to them. Don't go from wearing steel toe cap boots every day for work and suddenly run 100 kilometres a week in barefoot shoes because you're then asking for trouble because you haven't got that stability at that point. So, yeah, I like them. The other thing I'd say is, again, when any company provides the data, try and find an external source of it. But that kind of goes back to what we were saying earlier, doesn't it? Do you think the type of surface, so I know you mentioned evolutionary there, the type of surface that we now walk on is now very different to what our ancestors used to walk on. So, like, in terms of lots of grass, dirt, very soft. Now, if we're training and using barefoot on concrete where it impacts and hurts a lot more, is that going to affect potential damage, I guess, you could do to that? Again, you've just got to be aware of, I think you can condition the body to pretty much anything if you take that graded exposure approach, if you go from really cushioned shoes on soft surface to running on concrete in those, you're asking for a shed load of trouble. But if you were to build it up slowly, the body will adapt to that stimulus you give it. I actually bought them initially to be my gym shoe. And I used to do what you said, I'd go into the gym and I would be deadlifting, I'd be squatting, and I'd be doing that in socks. And then I got the advert and I was like, this is brilliant. I can do this without having to take my shoes off every time. And then I went for a walk, and I did. I live in Finsbury Park, so I did a lap of the park, it's probably about 2.5km. And I got back and I was like, the front of my shins are not aching, but they are, like, tired. And I'm feeling a sensation in the front of my shins I've never felt before. Now, I guess that goes back to your point of build up gradually. I went for a long walk, and I'm using parts of my... And on an unstable surface, and a bumpy, uneven terrain as well. Yeah. And I would never have dreamt of going for a run first thing, but now I've seen just a slight ache in the front of my shins from walking for 2.5km. That's probably the damage that could have been done. Absolutely, definitely, and I've seen it just so frequently in clinics. I wouldn't then demonise the shoe. People think, oh, these things are nasty, they're rubbish, they caused me this pain. No, you caused yourself that pain. You're an idiot. You've got to build things up slowly. There was another point I was going to make about this. And actually, never underestimate terrain. Actually, it's a good point. Generally, away from the shoe. Literally, a conversation this week I had, a football coach comes to me. He's been training and playing on Astro for months, and has been fine. He did one session at the same intensity, 20 minutes, and he got this really deep ache in his calf just because he was suddenly on grass. And his soleus muscle, which is really important in stability, was like screaming. And he did the same length of session, and suddenly it just changed his terrain. And that's caused symptoms without any other... And no other factor has changed in that journey. Luckily, not a bad injury, but it's just one of those where we go... We have quite set, flat, stable surfaces when we train most of the time. But then, if you've gone outside for a long walk, that can massively change your load factors. I want to see the Vivo barefoot football boot now. Yeah, we'll be coming. We'll be following you on. That would be very cool, actually. A little duck seat. So, Jay, final question, before we all head off into the night. As you're the finance expert today, if you could invest in one thing right now, what would it be? One thing. What forever? However you want to take that question. My brain's already going to, what's the time horizon and things like that. This is the way I've been programmed to think. I would just buy Apple stock. And I shouldn't be saying that because... That's not financial advice. That is not financial advice. But I've got a laptop in front of me here, and I've got an iPhone on the table there, and it's become so ingrained into my life that they've got me. And they're going to get me in so many more areas of my life. Like Vivo. Invest in Vivo. There we go. Thank you, Jay. Well, thank you very much, mate. Yeah, thank you so much. It's great to get guests on and just have a chat about loads of different topics. It's been very wide-ranging, hasn't it? Yeah, it's been a pleasure. Is there anything else you did want to mention before you went? I think we covered it. Cool. We had a good chat. Good. Well... Sign outside? Yeah, sign outside, and you can join in, Jay. It's really important. Come in in the last few words. Come in with my email address. So everything you heard in this podcast today was our opinions only, and this is not financial advice. If you feel as though you do want some financial advice, always... Seek professional help! He didn't comment on it. I didn't. Very good.