On this episode of How to Win, businessman and entrepreneur Matt Falcone joins Rick and Kyrk to talk about how he built a successful catering company through word of mouth and used smart, aggressive investing to retire early.
Matt Falcone and any companies mentioned are not affiliated with The O.N. Equity Sales Company or O.N. Investment Management Company. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities and should not be relied on as financial advice. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
Kyrk Davis is a Registered Representative offering Securities through The O.N. Equity Sales Company, Member FINRA/SIPC, One Financial Way Cincinnati, Ohio 45242 (513) 794-6794. Kyrk Davis is an Investment Advisor Representative offering Investment Advisory services through O.N. Investment Management Company. Estate planning services provided in conjunction with your licensed legal professional.
On this episode of How to Win, businessman and entrepreneur Matt Falcone joins Rick and Kyrk to talk about how he built a successful catering company through word of mouth and used smart, aggressive investing to retire early.
Matt Falcone and any companies mentioned are not affiliated with The O.N. Equity Sales Company or O.N. Investment Management Company. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities and should not be relied on as financial advice. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
Kyrk Davis is a Registered Representative offering Securities through The O.N. Equity Sales Company, Member FINRA/SIPC, One Financial Way Cincinnati, Ohio 45242 (513) 794-6794. Kyrk Davis is an Investment Advisor Representative offering Investment Advisory services through O.N. Investment Management Company. Estate planning services provided in conjunction with your licensed legal professional.
All right, good afternoon, evening. It's snowing on us and we're here for another How to Win podcast with Rick Gregory, Kyrk Davis, and a special guest today. Some of you may know this guy and some of you may not. Matt Falcone. Matt's a friend of mine. We do some things together. We shoot hunt doves, hunt birds. We got bird dogs in common. So today We're going to talk to Matt about his business ventures and how he got there and all the stuff that he did to become a successful business person, financially, how he pulled it off. So Matt, give us a little bio on yourself, introduce everybody to yourself and tell us, where you started and how you got to Lexington. thanks, guys. Thanks for having me on. And yeah I'm excited about my life at this point further as I just retired and that's because once upon a time and years ago, I had a dream of, what I wanted to do, how I wanted to do it. And, it didn't exactly go the way that I thought it was gonna go. Initially. I was always thought I would be an attorney and I was gonna go to law school. And as I went that direction, I convinced my two college roommates to take the LSAT with me and. We did, and we all got into kind of a sub rated school, and I decided to reapply. LSU, is that sub rated? No. Oh, okay. I'm just checking. Caution, careful. That's where I wanted to go, and didn't get accepted. They went on. They went to another school, and they got their law degree. I never reapplied. I became a stockbroker, and that was about the time that we had one of the biggest financial catastrophes in, in history was, Black Monday. The market dropped, I want to say it was 1, 800 points or something around in there. No, it was 900 points actually. And then everybody thought that, the world was over and people were jumping out of windows in New York City. And in fact, the little book of buildings that I had built just couldn't withstand it. It couldn't make a living. And back then it was where I was, it was all. basis. There was no, you were just on your own. So I had to have a second job just to try to be a stock broker, but learned some valuable lessons and then went on and worked in the corporate world for about nine and a half years and realized that, I was at the top of the food chain. I was doing really well with a big company and, it w it was doing, it was good. It was a, a six figure income, but it wasn't. Wasn't really where I knew that I wanted to be. I was, had a lot of fire in my belly and wanted to set the world on fire. Got into doing some franchises, started some franchises. Shortly after moving to Lexington, Kentucky, and I had been in Houston, Texas. And it was a health food concept called Smoothie King. And the point was there was to get next to a thriving gym. And at that time here in Lexington, World's Gym was really flourishing. It was the entry was my Smoothie King on one side and then a place called Planet Salon next door. If y'all know of Ron Turner, it's his daughter, Tanya. Ron Turner's kind of a, he's an electrician guy. Yeah. Yeah. He's been wildly successful. The Turner family, introduced me to so many people and I would always cook. My, my nature is being full blooded Italian. My, my grandmother cooked, my mother cooked, and then all the Cajun people that I lived around in South Louisiana it was a big deal for men to cook as well. So I would always do, some stuff, maybe if it were I brought these Cajun fried turkeys to town. First one to do those, probably. Twenty five to thirty years ago and we started doing UK football tailgating parties for fun. I was there to promote my health food business, but I was doing barbecue and frying turkeys, which it didn't go together exactly, but met everybody in town. That was when Tim Couch really started to hit it up. His father was there at our tailgates along with. Just a lot of notable people in town and I got to know all these folks and they were like, Hey, can you come over and do some food for me? And I said I don't do it for a living. This is just for fun. And I made some Cajun jambalaya and I would do a crawfish boil and roast a pig and it just got more popular and more popular. And finally I realized that the business I was doing was okay, but it wasn't going to pay. The bills and I quickly realized that the food business has some great returns for your time and your investment. So I started a little catering company. Back then we were called the Cajun Cowboy. And that then evolved to Bayou Bluegrass Catering. Along about I'm gonna say it's been now about 17 years ago I met. The management and owners of the Red Mile, which were a new group from mainly the Northeast. And Joe Costa was the president, still is the president of the Red Mile, and they really needed somebody to get their food right. And so they made me an offer, the old Italian style, an offer that I couldn't refuse. Yeah, that's a good kind of offer. Yeah. Okay. I took on the Red Mile. We built it from nothing and built it into a flourishing business both running the food and beverage there as an independent contractor and then doing weddings, parties, events and catering all over. Got to meet Dr. Todd at University of Kentucky. He allowed me to go in the suites and do the suites there and do a lot of his prominent parties. And the business just really took off from that point. We went from doing a couple hundred thousand dollars to a couple million dollars a year. And pretty much overnight. sO I had to learn how to ramp things up and how to scale. And I've always been a resourceful person. I've always been an investor and I say that from that business standpoint to how I do my investment portfolio now is to make an investment, whether it's in people in equities whatever you think is gonna. Pay you back a return for your risk and your time. thE food business just became a natural. And after it's a very laborsome business. Lots of times, seven days a week, lots of nights. So you would work a five day week, just like everybody else. But then on Friday afternoon and Friday night and Saturday night and Sunday, it was another week. It was all parties. That's when you'd really You know, that's when you cram three days a week into three days. Yeah, so that was the second week in one week. So that's when you harvested your crop. You prepped it up all week and got everything ready and got the staff ready and then you would do all the parties and weddings and events and I absolutely loved it. Had some great staff and eventually we set a deal up where they bought me out and been able to keep the real estate and that, that helps out a whole bunch, but the only way I was able to retire in my mid fifties was because I've always been a believer in investing first and investing in primarily equities and a balanced portfolio of stocks and perhaps even some bonds are. Some treasuries that, depending on the time, what, what works best for you. And as a young guy, I was always willing to take some risk and invest in some concepts that materialized and I've always had a theory that, you look at before you buy something, is it an investment or is it an impulse buy? So if it's an impulse buy, I look at that item and I say, do I need this? Do I have to have it? Can I live without it? And usually, if you run those three things across whatever you're going to buy, as an impulse item, you don't buy it. So I would then put that money in an investment, and pay it back many folds. And the way that even the construction and building we're doing right now, I'm financing that by my portfolio. My portfolio pays me a check every month that I live on and the only way you can get there is to have the discipline to save enough to have enough that it pays you and you can live off of it. So I'm going to brag on you a little bit because you're not telling the whole story. Everybody's heard now the story of Matt and how he got here and all the things he's done or whatever, but he's also a pretty nice guy. I don't know if everybody remembers or not, but Matthew McConaughey went around handing out turkeys during the holidays a couple, four, five years ago. Am I right about that, Matt? And all of those turkeys came from who? They came from our company. There you go, Matt Falcone. So there you go. So he's, he, not only has he worked hard and does things, but he gives back too, so don't think that he's just out there all the time grubbing around trying to make a buck. He's giving back too. And that's what makes you successful. Thank you. But I really like to be around guys like you guys because I know that what you're doing is you're helping people to do the things they need to do to survive. And what I mean by that is, people go to work every day and they work really hard and they make money. Money, whether it's a limited salary, whether it's based on their business, whatever it is. But they don't know much about what to do with that, and how that money is eventually going to work for them, and they can count on it. And give them a paycheck, just like you're giving them now. Yeah, so it really blows my mind that people work their whole life acquiring Money, or assets, or whatever it is, and they spend so little time investing and learning about investment opportunities and items that are going to pay them back. They say I've got a retirement plan, or I'm going to get Social Security. When I hear people, I ask them, tell me a little bit about your retirement plan. Oh, I don't know anything about it. I just put that money in there. And I'm hoping that one day it's going to pay off for me. And shame on you for doing that. That would be like, walking blindly through life. If you're not going to pay some attention to your investment portfolio, you're in the hands of whatever happens to you. The government's not going to take care of you. No and the Social Security program is definitely not going to be enough to support you. whEn you're fortunate enough to meet some financial guys that are passionate about what they do, spend some time with them, invest some time, learn about some investment vehicles. Guys, I don't need to tell y'all this, but an investment portfolio that's managed even halfway decently can take ten years off of your working life. You can retire 10 years earlier, 15 years earlier, but you gotta have the discipline just to spend maybe an hour a day, a couple of days a week, listening to Squawk Box, reading an article, picking the brain of your financial guy, if you have a fiduciary that is working with you Yeah, we don't care if you call us. Yeah, y'all got great opportunities, and you know what, you, but I do encourage people. Use your own brain, and if something doesn't sound right with that investment, then don't do it. Let them find you something else. It's okay. But participate in it. When someone says, Oh, I had no idea. I just know that I put money in it every month, and I don't know what the market's doing or how it's going to do, but I'm just. What do you mean? You're just, it's like Russian roulette. Hopefully the people you're working with encourage you to participate in your investments. Cause if they're all, it's your future. And it's a lot of fun. I have had so much fun learning about different investment opportunities. It's an endless world. Nobody knows it all. It's phenomenal how much information is out there. But it's also really interesting how simple it is. There's only a few things that affect it. It's interest rates, it's unemployment, it's CPI. It's, it's just some, it's some common sense stuff. You don't have to be a Series 7 holder to Participate and have some influence on what type of investments you make, but that's just my simple rule I encourage my children that are in college to think about What they're going to be doing and when they're going to start their investment program and they both have in their early 20s now It's the time to start Planning towards your retirement time and compounding Exactly. It's a beautiful thing. I got a couple questions for you. So we're going to go back into your story a little bit. You had a really nice corporate job. It sounds like you ended up walking away from that, creating your, a job for yourself and then ultimately grew that into a business that was able to be sold off. So that second piece there of actually going from creating a job for yourself to creating a real business. That's where a lot of people I feel like get stuck. thEy always just, they have a job and it's just gonna be a job, until they stop doing it, then there's nothing left to sell after that. How did you get through that part? Do you have any advice for any other business owners out there that, I Think you gotta find. Successful things are, you have to find positive things every day that say that you're making progress, even when it doesn't seem like you are. Let's face it, if you're working as a entrepreneur and you don't have any real money and you're taking all these risks and you really don't know if it's going to work, it takes a lot of intestinal fortitude to mentally get through that. But if you could look at it and say, gee, you know what, I made a great relationship today, and if I plant that seed, and I do a great job for this guy, the word of mouth is going to get around. And that was, that was the thing, I think the people that I met here, and Lexington, Kentucky is the easiest place in the world to meet people, and genuine people, that I felt like if I was making those contacts and I have to say, you got to ask. You got to ask for what you want, close the sale. Can you give me an opportunity? Can you allow me to I'm doing business with somebody else. Hey, I understand. Can you at least maybe give me a little bit to try, see what we do and get your foot in the door. So you're building something of value just by making relationships. Yeah. Those guys say, hey, Matt did a good job for us. We're going to call him next time. Yeah, and when people have something positive and like something, they tell a couple of people. Unfortunately, when they have a bad experience, they tell ten people. You can't have that happen. Yeah. And gee, I just think, we have to rely upon ourself and we have to have a no prisoners. We know we're going to make this work beyond everything we're going to make this work. And it takes a lot of burning the midnight oil. It takes a lot of work and fortunately my wife stuck through and worked with me on this. I don't think she had any idea that it could have blossomed and produced what it produced, but she did. And very grateful for that. Man, were there some bumps in the road and some, some tough times and trying to make the ends meet. But, my, I'm from, like many people, I'm a third generation immigrant. My, my great grandparents came here from Sicily. I didn't have anything. And the rule of thumb was that. You could live on bread and cheese until you could afford something else. Yeah. And be happy about it. So when you're making these relationships, and meeting people and doing stuff for them, basically you do a great job. So you're building something of value because the next time they're going to call you. So obviously you do a good job for that person, then you get down the road to where that your business is actually worth something because you have a customer base that's always going to call you because you've done a good job and made the right connections. It was the funniest thing, Rick, that you say that. When we first got going, I still had my franchises, and they were doing okay. We weren't really making a lot of money with that, but they were doing okay. But the catering business kept just blowing up. And maybe I would meet somebody. For instance, I met a guy named Brett Setzer early on. He helped me with some plans and building one of my The guy I went to high school with. Yeah. Yeah. And, if you're from here and you've had the fortune to meet him and get to know him Wonderful human gives a lot back to the community. But Brett said I couldn't get a hold of you. And do you have a, do you have a phone number in the phone book? I was like, back then we had phone books. Okay. Yellow Pages. And so I never Kyrk doesn't know what that is. He's not that old. We never even got the yellow pages. I just gotta get Google to pull it up for me. It was a big book that we got and everybody had one and that's how you, that's how you got phone numbers. But I never had a listing. And this was before, before Google and before cell phones. It was word of mouth and it was that investment of building relationships with people. And I truly believe to this day that one of the best things that was ever taught to me is people buy from people they like. People buy from people they trust. And to further elaborate on that, later Brett Setzer Stoops asked me to do a job for the new coach in town and at the time that was our football coach. Whenever Is that Hal Money? No. I never did any work for Hal Money, but I did several now. But when Stoops came to town, Brett sent me over there. We did a full meal and he actually paid for that. Which was free advertisement for me. He paid me to advertise my business through a group of people that wind up using us. They still use us. That's probably been since Dukes got here. And again, just luck. Very fortunate of the people in the area. But I have to say that there were many times that on a Saturday or a Sunday when most people were off work. I never got to watch football on a Saturday, that's just unheard of. You're an LSU fan, so really you weren't missing anything. Yeah, that's right. bAck then we had Nick Saban, by the way. Oh, yeah. He did get his first national championship. Yeah, I guess he did. We taught him to wait. How did you go about finding the right team of people to put in your business? To make sure, because after it really started growing, I imagine it got to a point where you couldn't do everything yourself. So how did you find the right people to put in that team and what kind of role did they play? Yeah, that's a really interesting point. I pride myself on being a recruiter and kind of maybe a little bit aggressive in the style and way of doing that is if I went to a restaurant and I found a waiter that was really spectacular, I tried to hire that guy. If I went to the Home Depot and found somebody there that waited on us that was just out of the ordinary, I'd say, hey, how would you like to, get some extra cash on the weekends and work some events, and you'll be doing stuff for, maybe at the time it was, would have been our president of the university, or maybe it was Coach Stoops, and I'd try to just, maybe do a little name drop and lure them in to come and work with us. And some of those people became key components. My first really good chef I recruited and she had been working for a really well known caterer in town called Phil Dunns. And she brought an incredible repertoire of recipes and things that really launched the quality of food that we did. And that in itself began to sell itself. So we then went to, we went to fraternities and sororities and networked with the college kids and if we found a good one, we would inspire them to go out and find somebody else. And if they did, and they stuck around a while, we'd pay them a finder's fee. We'd give them an incentive for bringing people around. And a lot of times it's funny you say that because the number one thing that annoys me when I go out to places is they say, sorry, our service is terrible. We just can't find enough help. We, I would have probably fired somebody if they Don't use that excuse too much. I do get it. I know it is hard, but that's just not, if somebody's paying you real dollars to do a job and a service, they don't need to hear an excuse that you can't find good people. Either find a creative way, giving them an incentive find some way to retain your employees and to get good employees. Whether you gotta pay them more, give them better incentives, cook them lunch, whatever it is. You have to be more creative and competitive than your competitors in that way. I'll give you, I'll give you an idea. We had a wonderful lady that worked in our kitchen. And she had a very unreliable vehicle. It wasn't even safe to drive. We bought her a car. And it, it sent a message to our crew that we, that you cared. Yeah, we cared. Yeah. And on days like today with all this snow out there, she would come to work and sometime I'd have to go get her because the car couldn't make it, and it was just a really, it felt really good to give back and give something. But I think that is a key component is that people are almost the most important. resource in your business because they represent you and your product. How does that work, Matt, with your health care? So did you offer health care to your employees? We did. Was that, now, I know that's expensive. I know it's a, and that's a huge benefit, but how did that affect the decisions that you made in your business? You know what I'm saying? It's hey, we can pay them this much and give them this much health care, or do we give them more health care and pay them a little less? How did you work all that out? Because that's very important, especially for me as a retiree. I have great insurance as a retiree. Yeah, yeah, you guys had a great program, but that was a really tough one. I thought it was a great incentive and that people would really appreciate it. But people in the food service business, they, they, we did a matching program. For every dollar they put in their retirement, we would match that 100%. And I found it really odd that some of them felt like we were taking money out of their check. And I tried to encourage and create that, that whole down the road program of retirement. Yeah, so you're not going to be able to do this forever. No. Or you're not going to want to do it until you're 80 years old. And there's very few things you can guarantee someone 100 percent return, right? Yeah, that's right. But if you put a dollar in, I'm going to put a dollar in. You can't beat that with a stick. And at the end, probably about 10 years into it, we had a few employees that just said, you know what, we'd rather just have our check the way it is. And I had to allow them to do that. Yeah. And, but, I think that you have to make those investments in the people and, and let's face it in their life because once your time runs out, your health runs out, you're in trouble. Yeah. Let's invest every minute correctly lesson, get an investment program that works and take a few risks out there investing in some stuff. So was that program you set up for your employees? Was that something, was that difficult to get set up or, because I know I've talked to a lot of business owners and I've put that in front of them. Hey, do we want to look at opening a simple IRA plan for your business or maybe a 401k plan if you're at that point. And a lot, I get a lot of pushback on that because I think there's just going to be way too difficult, way too expensive. Can you can you speak from, to that? Yeah, okay my days as being a stockbroker, I knew it was important. to have a plan for short term, mid term, and long term. And most people don't want to look at long term, especially when they're in their 20s and 30s. You just, that's not important because you're invincible. That's a bad decision. Because you really start, the earlier you start, the easier it's going to be. And it was easy, it was very easy to implement. Very easy to implement. But Getting staff to sign up on it, I didn't do a good enough job convincing them. And, I guess I attribute to that we were just so busy that they wanted it great, we did it if they didn't. So it wasn't a huge cost to you or anything as far as expense just to implement that 401k or matching contributions. It was pretty easy to do and it wasn't a huge cost for the business. I mean it was a sacrifice for the business. Let's face it. That money was no longer going to our bottom line. And, when you look at one day if you decide to sell something, if it, your EBITDA is created when you're showing that you're netting more money. And, so it's a sacrifice that, that I was hoping that our employees would pick up on and they would appreciate. So some did and that, that was worth it in itself. But, easy to do I think it just needed, I think I needed some help probably on, educating that and Making our staff giving them the right. See, if you'd have known us then, we could have helped you. Oh yeah, y'all would have. Yeah, so that wouldn't have been any problem. But here we are. Yeah, here we are. So now we're helping when it's too late. I think that you guys are in a wonderful business that really, you need to pound people in the head and let them know that, there's just so many opportunities out there to. Earn a good return on your portfolio, but you gotta be willing to have the discipline to put the money in and leave it alone for a while. Let it produce for you. It's, it, again it's, I think it's just a discipline thing where it's so easy to spend it. And then it's gone. Yeah, it's gone. Yeah. Like my daughter she changed jobs three or four years ago and she had a small 401k. It wasn't a lot of money or anything. Had her old job. And she said, Dad, I'm just going to take it out. And I said, No. No. Yeah, that's right. And it wasn't a lot of money. It was under 10, 000. And I told her, I said, no, you're not. You take that out now and spend it, it's just gone. And I don't think people think that far down the road, but obviously I pushed her in the right direction. When you say that Rick is right now is an exciting time. We've had interest rates pop up quite a bit. If a guy has a cd now he's making a little bit of money on it. Some people are really excited about, 4%, 4. 5%, but I would feel terrible if that's all my portfolio. Oh, yeah, You're going backwards. And let's face it two years ago, you couldn't do that even then. So people got exposed to the market and taking advantage of some of the opportunities there. And I think we're in for some really exciting times coming up. I think, people say we had a soft landing. I don't even think we had a landing. I don't think we ever. We never, we're not even coming down. No. So you know, I think we'll see in the next year, I think we'll see the market hit 40, 000 on the Dow. I believe that because interest rates will probably go down a little bit over the year and whether they do or not the CPI is showing that, the health. Of our economy is tremend. Yeah, we're rolling. Tremendous. We're, yeah, we're rolling. So everything's moving in the right direction. Right direction. It's and we've got inflation down. Yep. If you stripped out housing from the CPI we're at, we're 2%., the Fed probably got it right. Some people wouldn't want to admit that, but they probably got it. We don't have inflation. We don't have deflation and we won't have deflation, but we don't have inflation hardly anymore at all. So I think it's a ground floor opportunity for a lot of good quality equities right now. People to get in right now. Yeah. Yeah. Even though they think the market's at an all time high. But that doesn't matter. Again, because of time and compounding. Markets are always setting new all time highs. Yeah, every time, yeah. Whenever I talk to somebody that's younger, just starting out their career, and I'm trying to get them actually saving at least enough to get the, whatever match they're getting on their 401k, and hopefully, maxing out Roth IRAs on top of that and doing all those other good things. One thing I like to show them is just pulling up an investment calculator. And type in it, hey, you're 25 years old now let's say you just max out these accounts every year for the rest of your life never, increase it or anything with your raises. And say what do you think that could be by the time you get to retirement? They're not ever even close. Yeah, and they're probably at when they give me a number, it's probably 10 percent of what the actual number is going to be. Yeah. So I try to use that as a, hey, here's the wake up call. You need start this now. And then I show them if we wait 10 years. Look how much this is actually going to shrink by the time you get to retirement. And I think a lot of people just struggle with believing the math on it. For whatever reason, they don't I can explain compounding growth to them, but it's hard to wrap your head around when the numbers get that big. I'll probably Call some people out and I have my own little things that I like to waste money on but at the same time Shotgun shoot. I don't do a lot of it, but it amazes me how I find some of my acquaintances that have an incredible bourbon collection Maybe they got a a Porsche in their garage and nothing wrong with that. But If you don't have a nest egg there, that you're investing in, that is paying for those things, then you got your priorities wrong. And so what I mean by that is, before you go out and buy that Porsche, do you can your investments produce enough to pay for that? If they can't. Can't. Yeah, they're doing it backwards. Probably don't need the Porsche. Yeah, I've convinced myself a long time ago I wouldn't own a Porsche and I wouldn't own a Mercedes. It doesn't matter. What about a new shotgun? Now if I have a Parazzi There you go. I'm gonna get one of those. But my funds not producing enough. What about a new bird dog? Yeah that's true, too But I usually get a puppy and train my own. How's Ron doing? He's a, he's still a beast, he's a tough dude. Groot's doing good too. Of course, my old man ain't got much left, much time left. He's, but he's hanging in there. He's doing pretty good. It's been going on three months now since the cancer, so he's hanging in there. But Groot's on fire that he did so good out in Kansas. Him and Ronan, people don't know, but Matt's dog and my dog are almost twins. They look just about alike. we Got German Shorthaired Pointers, and of course Matt likes to bird hunt, and I like to bird hunt, so we do that every chance we get. Matt, is there anything you want to close with? I Do want to say that make it part of your your daily life to participate in what you're in, your, what you're investing all your hard working dollars in. If you say I just, I didn't have time, I didn't, I didn't, I just ran out of time, or I didn't have enough this month to save anything, I had to buy groceries, I had to pay the light bill, I had, I had to get a new garage door opener today, yeah, I had to go shoot my shotgun, I had to get the car washed I get it, but do you brush your teeth every day? Of course you do. Yes, sir. So spend a little time Investing in yourself and investing in your investment portfolio. Educate yourself. Work with your financial planner to learn about some of the wonderful opportunities out there that are going to pay you when you can't pay yourself. Matt, you said it right there. Yeah, you said it all. So Matt, I really appreciate you taking the time to come out here and talk to us today. And, just share kind of your life story through business and investing. And, ultimately it got you into what seems like a pretty good place. And having a great retirement now. Thanks again. Thank you. Thanks for having me. Alright everybody, that's a wrap. Thanks. Everybody, call us if you need to. Family Financial Partners. Hope you loved this episode of How to Win. You can go on your favorite podcast platform and find us. We'll see you next time.