B (22:19)
Yeah, I like that Take Robert, because I just looked it up here. So over the last 10 years the median salary in the United States for nurse practitioners has actually grown by 36% percent. So I guess it's a toss up if that's outpaced inflation during the same period of time. But regardless, right, salary has grown by about 36, 37%. And so at this 140, right, you're 24 right now you'll be 30 years old, probably making 150, maybe 160 if you're lucky. And I believe because you have so much money invested and will continue to invest over time, Madison, that you'll be able to knock out these $110,000 of student loans very, very quickly. So I agree, I think going into this eyes wide open that you are going to be going into some student loan debt. But you're approach from a place of strength. You already have your base built, you already got well over a hundred thousand dollars in, in your retirement accounts between the 401k, the Roth, the bridge, the savings, you are rocking and rolling that way. So you got our, you got our blessing, you got our permission here. Go get your 140. Hopefully the three years goes by quicker than you think and maybe by the time you are, you know, 27, 28, 29 years old, you're making 150, 160,000 in a very high demand and predictable job. That's the, you know, we think AI going to replace this or that. AI is not replacing a nurse practitioner, that's for sure. Our next question comes from an anonymous listener. They say, hi Austin and Robert, please keep me anonymous. First, thank you for everything you do. I've been following your podcast since the beginning and applying the lessons you all have taught me has radically changed my family's financial trajectory. I have a question about how to approach my traditional brokerage account, AKA my bridge account. I understand the concept of the core satellite portfolio strategy that you all talk about, but I was wondering if that is for each account investment portfolio as a whole. Here's some context. My wife and I are 29. We make 230,000 a year, have 30,000 in a high yield savings, 250,000 in our retirement accounts, and we co own three rental properties with our equity being about $100,000 between the three of them. And now we're focused on building up our bridge account, which has only about $10,000 in it. We have two kids and no debt besides our mortgage which is at 3%. At first we approached our bridge account, putting in that 80% into those ETFs and about 20% into the individual stocks. But because the bridge account only has $10,000 in it, I was wondering if this is too risk off. Of course, the other side of the coin is that between my retirement account, the real estate and the bridge account, only the bridge account has liquid investments. Can't pull early from the retirement, can't sell the real estate that easily. Which makes me think we should treat it as its own portfolio and stick to that core satellite model. But any help on this mindset and strategy for this investment account would be super appreciated. And as an aside, it feels crazy to see how our financial situation is when it's typed out like this. And again, I'm so grateful for both of you for helping us get to this point. Thank you. Well, to our anonymous listener, you have absolutely crushed it. It is so rewarding, Robert, to hear from Madison over here who's built her base at 24 saying she's a day one listener. We got our anonymous listener right here saying, listen, y' all have changed it for me. We are just, oh man, I'm over the moon on this one. So let's talk about this. Robert. When we talk about the core satellite portfolio strategy, I like to think about it as the bridge account. Like yes, theoretically speaking, it could be applied to your retirement account, like your Roth ira. But me personally, I do not apply it like that to my Roth IRA. My Roth IRA is strictly index funds and ETFs that, you know, track these major indices that go up by 10, 12, 15, whatever percent every year for the last 90 something years. Because my retirement accounts, I don't play about that money. That's my forever money. That's the I'm not going to be broke when I'm older money. And by playing with that money, I mean, hey, in a bridge account or in, you know, this core satellite, these satellites are opportunistic names, opportunistic single stocks and other asset classes that we think will outperform the markets, but sometimes they don't. And so that's why I don't get too fancy when it comes to my Roth IRA and these retirement accounts. But in my bridge account I definitely have some of those diversified. If it's precious metals, cryptocurrency, you know, I've got my Amazon, Amazon's been crushing it so far this year. You know, I've got the, the Mag seven, I've got some Tesla. I'm doing all that stuff and I feel good about that. So in your situation, our anonymous listener, I would follow the core satellite portfolio strategy for that bridge account. If you want to switch it up, do it at your own risk. But I think having, you know, and again, just make sure we're on the same page. The core satellite portfolio strategy, all it means is 65 to 85% of the portfolio is invested into index funds and ETF steps. The other 15 to 35% is diversified between cryptocurrency, real estate, precious metals, blue chip, single stocks, dividend stocks, neos funds, things like that. Right. So that's what I think you should do, our anonymous listener. But of course, personal finance is personal.
