Roger Ferguson III Reflects On Three Episodes With His Father | AWM Insights #270

After three episodes with Roger Ferguson Jr. on building a 1Hundred Year Family, Justin and Mena sit down with his son, Roger Ferguson III, an Investment Manager at AWM, to reflect on what it’s like to grow up inside those lessons and why generation two, not generation one, is where families actually keep or lose their wealth.

*Connect with Us*
• Call or text us: 626-862-0355
• Website: https://www.athletefamilyoffice.com/
• YouTube: https://www.youtube.com/channel/UCc1NxpK21N1vKWEExC45YEA
• LinkedIn: https://www.linkedin.com/company/awmcapital/
• Instagram: https://www.instagram.com/awmcapital/
• X: https://twitter.com/awmcapital
• Facebook: https://www.facebook.com/awmcapital/

*Chapter*
[00:00] Introduction: Justin and Mena welcome Roger Ferguson III to reflect on the three-part series with his father, Roger Ferguson Jr.
[00:02] Roger reflects on interviewing his dad and discovering lessons he didn’t realize were being taught.
[00:03] Why Generation Two Is The Real Test: “It’s not the first generation you have to worry about, it’s gen two and beyond.”
[00:05] The Power Of Repetition: How hearing the same lessons for thirty-plus years built the instinct to make better decisions.
[00:09] Values In Practice, Not Just Words: Diversification, right-sized positions, and saving relentlessly as lived principles.
[00:11] The CEO Who Sat In The Middle Seat: Living the say-do ratio, no matter the title or the balance.
[00:15] Discipline Over Dollars: Why more resources demand more discipline, especially in a social-media-comparison world.
[00:16] Rethinking “$100 Million Isn’t Enough”: Unpacking the generational wealth debate and the power of compounding time.
[00:20] Closing Thoughts: Own your wealth, make an impact, always be a pro.

Creators and Guests

Host

Justin Dyer

Chief Investment Officer and Chief Operating Officer at AWM Capital

Host

Mena Hanna

Senior Investment Analyst at AWM Capital

What is AWM Insights Financial and Investment News?

A bite sized discussion on timely financial news and investment topics, to help you maximize your net worth and wealth for the next generation with Justin Dyer and Mena Hanna of AWM Capital.

Roger Ferguson: He would put 99
cents for every dollar away and

spend 1 cent if he could, right?

That is really how he operates.

And to quote him again, he said, "It's
not the first generation that you have

to worry about, it's gen two and beyond."

And so almost the responsibility
to create a 1Hundred Year Family,

really does go through gen two.

How do I protect myself from all the
chaos that is going on in this world,

and how do I make sure the tools
are used appropriately to help me

Mena Hanna: align my

Roger Ferguson: long-term vision?"

If I have more time, that just
means I need more discipline.

That's just more years of real focused
discipline and really understanding

the power of compounding, because it
can be your best friend or if done

incorrectly, you can miss out on a lot
of upside and a lot of opportunity.

Justin Dyer: Hey, everyone.

Welcome back to another
episode of AWM Insights.

It's your host, Justin Dyer, chief
investment officer here at AWM,

joined as always by Mina Hanna,
portfolio manager here at AWM.

And a special guest as, as many of
you have, have seen over the last few

episodes, Roger Ferguson joins us, uh,
our investment manager, um, here at AWM.

And today we're gonna, uh, just reflect
a little bit o- on what we talked about

over the last three weeks, the last three
episodes, that, that privilege we had

to interview, uh, Roger Ferguson Jr.,

Roger, Roger's dad.

Uh, and there's a lot we're
gonna, uh, dissect here, right?

There's both the, the 100 Year Family
from someone who's effectively well

on the path to accomplishing that.

And then not only do we get to l- hear--
did we get to hear those, those wise

lessons, wise tidbits, but we also get
to hear today, at least from, uh, the

point of view, the POV, uh, uh, of Roger
III, kind of that next generation and,

um, the privilege that he had to hear
some of these, these items from his

dad for the first time and, and really
kinda, uh, the power, if you will, that,

that, that conversation helped him.

And then, of course, just like we
always do, what are the, the real

key reminders, lessons learned, uh,
perspective, perspectives rather, and,

and rules that we can all go back to,
um, as we're all each going through our

own unique journey, uh, sticking to the
course, controlling what we can control.

I think those were all
elements that were touched on.

Um, but we're cer- certainly gonna
extract those and elevate those,

at least in, in our, in our, uh,
little conversation here today.

So, uh, hope- hopefully you enjoy this
and, uh, we'll jump right into it.

Roger, I- I'm gonna start with you,
um, kind of along the lines of, uh,

uh, what I just, um, alluded to, right?

It, it in a way, super uni- unique
perspective to effectively interview

your, your dad, um, and even hear
someone else interview your dad.

But, uh, think about it, right?

You're wearing the 100
Year Family shirt today.

Um, before we jumped on here, you
had a, I think, really, really,

um, just i- interesting comment,
at least to me, around your

reflections on that conversation.

So I'd love to hear them and, and
for our listeners- Yeah … as well.

Roger Ferguson: Yeah.

A- absolutely.

I'd, I'd say first and foremost, I mean,

Mena Hanna: I mean,

Roger Ferguson: rarely…

never, never really get an opportunity
to interview your father in that

capacity, and so some of those, you

Mena Hanna: of those, you know,

Roger Ferguson: stories were not,

Mena Hanna: not,

Roger Ferguson: things
that I'd heard previously.

And so brand new perspective
for me, which was

Mena Hanna: was

Roger Ferguson: exciting.

But I think the biggest
takeaway for me was

Mena Hanna: was

Roger Ferguson: that those lessons learned
were things that I didn't even know kind

of were happening as I was growing up.

Those are things that, uh, were,
were being passed down, and I think

that was the most important thing, is
that those values and those lessons

have to be instilled at an early age.

And ultimately something that

Mena Hanna: something

Roger Ferguson: that I really took
away was that those dollars and

those values have real alignment.

Uh, every dollar that you
spend can be aligned with your

personal goals and your mission.

And

Justin Dyer: again,

Roger Ferguson: things we do
internally, I think we, we have

Mena Hanna: we

Roger Ferguson: framework
for what that looks like.

Mena Hanna: like.

Roger Ferguson: but these are things that

Mena Hanna: things

Roger Ferguson: talking

Justin Dyer: things that

Roger Ferguson: to my dad and, you
know, family dinners were, were

around the values, the value side

Mena Hanna: side

Roger Ferguson: dollars and
how we put things to work

Mena Hanna: work

Roger Ferguson: the best way.

And, and to quote him again, he said,
"It's not the first generation that,

that,

you have to worry about,
it's gen two and beyond."

And so almost the responsibility
to create a 1Hundred Year family,

uh, really does go through gen two.

We've seen the data where, um, you
know, by, by the time it gets to

gen two, it's very hard to maintain
a hundred-year family, right?

Gen one is not the problem.

It's everything after that.

Mena Hanna: that.

Roger Ferguson: so my sister and I
have this responsibility to be able

to uphold the values and the lessons
that he was able to instill in us,

and do the same with our kids and have
our grandkids do the same, et cetera.

So

Mena Hanna: So

Roger Ferguson: family dynamics and the
lessons that I think potentially took

for granted are now representative in

Mena Hanna: in

Roger Ferguson: honestly I even spend
my own money today, even before, you

know, I, I look to, to pass this on

Mena Hanna: this

Roger Ferguson: to gen two.

Mena Hanna: two.

So,

Justin Dyer: uh,

Roger Ferguson: it was
w- it was obviously an

Mena Hanna: obviously

Roger Ferguson: honor to talk to him,
but even more importantly, to reflect on

Mena Hanna: on

Roger Ferguson: did I learn when I was
growing up that I took for granted that

now I'm unbelievably grateful for because
I'm able to manage my own personal

wealth in a way that really aligns

Mena Hanna: aligns

Roger Ferguson: my values and long-term
perspective of how I want to live my

life and how I want to pass on these
same lessons to, to my children.

So yeah, it was a, it
was a great opportunity.

Justin Dyer: Yeah.

And I mean, sup-super powerful,
super helpful, uh, summary there.

I think, um, don't wanna put words
in your mouth, but, a-and maybe

this is a question back to you.

You know, you weren't necessarily aware
of the lessons being, being taught

or, or just the general exposure.

How important was the, the consistency?

You know, whether it be, you know,
something, a comment that you-your

dad would just say in response to,
you know, a given situation over

and over again, or, you know, saying
something a million different ways.

Like, "Hey, you, you gotta go earn it.

You gotta go get your job," right?

Like, the repetition I would imagine
is super, super helpful as well.

I mean, again, yeah, not
putting words in your mouth.

Roger Ferguson: 1- yes,
I'd say 100%, I think

Mena Hanna: think

Roger Ferguson: I say took
it for granted, it is those.

It's the, the anecdotes that

Mena Hanna: that

Roger Ferguson: think when you're an
angsty teen, you push back on, right?

You think this person is,

Mena Hanna: is,

Roger Ferguson: know, uh, I don't
wanna say your enemy, but someone who's

Mena Hanna: someone
who's sort of fighting,

Roger Ferguson: the, the natural
course of order that you want as a, you

Mena Hanna: a,

Roger Ferguson: 14, 15, 16 year old.

But to the point of repetition,
practice, practice, practice.

Mena Hanna: practice.

Roger Ferguson: gave me the tools
to know that when I was able to

make my own decisions, it's almost
the voice in the back of your head.

Instead of having the angel and the
devil on my shoulder, it was like

I had my mom and my dad telling me
these lessons over and over again.

Both angels, for the record, right?

There was no

Justin Dyer: devil involved.

Yeah.

Be careful there.

Mena Hanna: him then.

Oh, yeah, exactly.

I have to be careful with that

Roger Ferguson: yeah, exactly.

I

Justin Dyer: yeah, exactly.

There wa-

Roger Ferguson: careful with that, right?

This is a recorded line.

Mena Hanna: line.

Uh,

Roger Ferguson: but joking aside, I think
that was the benefit is I thought at

the time, uh, these were just, you know,
things that my dad was trying to instill

lessons, but he had- he did not have a

Mena Hanna: have a worldview.

Roger Ferguson: thinks that,

Mena Hanna: that,

Roger Ferguson: their
perspective is different.

The next generation has it easier or
harder depending on kinda who- which

side of the aisle you sit there.

But,

Mena Hanna: But,

Roger Ferguson: I think most
importantly, he was saying the same

things 30-plus years ago, right?

The same things he said on the
podcast, outside of maybe the,

the detailed stories, right?

But the lessons were there through,
and that was the through line.

Again, things that I,

Mena Hanna: I,

Roger Ferguson: um, you know, I very
much, uh, you know, I remember the, the,

the first time he told me, you know,
"Penny saved is a penny earned," uh,

and all these, you know, old quotes.

He loves quoting.

He's a history buff.

Loved quoting Ben
Franklin, et cetera, right?

And he's saying the same thing
today as a 70-plus-year-old man.

And so those lessons, I'm,
I'm excited to have him,

Mena Hanna: him,

Roger Ferguson: know, talk to my kids,
and which will be his grandkids, and

say the same thing, which will be,

Mena Hanna: be,

Roger Ferguson: know, crazy
grandpa sayings that'll turn

into something when they're 30.

They'll say, "I remember when my
grandfather told me this exact lesson,"

and it's showing and repeating itself.

Uh, and now once, once
those moments, right?

Talk about practice to game time.

Once you get to the a- actual
opportunity to execute on that,

Mena Hanna: that,

Roger Ferguson: having both my
parents on my shoulders telling

me the right thing and having
that positive voice in my ear of,

Mena Hanna: of

Roger Ferguson: "Maybe you don't
need to buy the expensive thing.

Why don't you think about what
you really need versus want?"

That was another obviously big lesson
we talked about a few episodes ago.

Mena Hanna: few

Roger Ferguson: So really being
able to compartmentalize that, and

him saying it over and over again.

As much as I push back, now of
course, I get to look back and say,

"Thank God he was saying that over
and over again," 'cause that's,

Mena Hanna: that's,

Roger Ferguson: that is kinda set
the guardrails for every financial

decision that I n- now make going
forward for myself and my family

Mena Hanna: Yeah, super powerful.

I

Justin Dyer: Work for myself and
my family Yeah, super powerful.

I mean, we, we often say when it
comes to wealth transfer, very

rarely does wealth not transfer
because of some technical expertise.

It certainly can happen, right?

Bad advice is incredibly
damaging, but then if you surround

yourself by the right team,

Mena Hanna: The,

Justin Dyer: the, the m- the
numbers, the dollars and cents can

largely really be handled properly.

But the values piece, that's where
arguably the rubber meets the road

and, and it's the hard work too.

I can say that myself as a parent where,
and you even alluded to it, Roger, where,

you know, especially when you're in your
teen years and there's that inherent

friction, like, oh, I wanna, like,
truly keep up with your, your buddies.

Keeping up with the Joneses is like, is
probably at its highest peak, um, uh,

from an emotional standpoint, and as a
parent pushing back on that, that's where,

that's where you're really developing the
muscle, the hundred-year family muscle,

in my opinion, and I think exactly what
you just said i- is, is proof of that.

Um, right?

You have to, as a parent, do the
hard work, make the hard decision.

Don't just throw kind of money at
the problem because that is, that

is the easy, easy way out, right?

Money is a tool.

Tools can be used for exceptionally
powerful things to build the

hundred-year family, and they
can also be used to completely

destroy the hundred-year family.

Um, so anyway, I, I really appreciate
you, you sharing the perspective.

I think it's super unique, um, and
really important for a lot of our

clients, especially clients that,
that have kids that are coming

into, uh, um, these really, really,
really important formative years.

Let's switch gears a little bit,
guys, a-and talk, uh, a little bit

about the, the wisdom, I mean, the
wisdom around the hundred-year family.

I think we've touched on the point of
view you shared, super powerful, but

just like the, the, the nitty-gritty,
the tools, the things that we can

go back to time and time again
around long per-term perspective,

what we know makes good investing.

And Mina, I'd love for you to,
you to just give us at least kinda

start with some of your immediate
takeaways on, on that front.

Mena Hanna: takeaways on, on that front.

Yeah.

I think there's a lot here that,
you know, we talk about week in

and week out with AWM Insights.

Roger really made a point about true
diversification, making sure that you

are a well-rounded, holistic investor.

You're not over-concentrating in one area.

You are writing checks of the right size.

That's something that we definitely
see in our community that's a problem.

You'll get an athlete, someone, uh, in
the ecosystem will get really excited

about an opportunity and not properly
size a check, making sure that you are

not only getting into the right number
of companies, but not overexposing

yourself to any one opportunity, no
matter how, how attractive it looks.

I think that was a great lesson.

I also think this is-- this ties back
into the hundred-year family, but his

point around saving relentlessly and
saving now as the item he would have told

himself in the past It's easy, and, and
Roger, I'd love to also get your take

on this, but I think it's easy to tell
people to save money and to tell your

kids to save money and not squander it.

But it is such a more powerful point
of reinforcement when the person

that is giving that advice actually
lives by those values and principles.

Obviously, your dad love- uh, does that,
um, and did that during your upbringing.

So kind of wanted to extend
that question to you.

How has some of just his actions…

How, how were his actions sort of

Justin Dyer: of

Mena Hanna: affirming of the
points that he, he would tell

you or, or the piece of advice?

How did that, you know, really add weight
to just the guidance that he gave you?

Roger Ferguson: Um, I'd maybe
start with even contextualizing

that, you know, when he,

Justin Dyer: know, when he,

Roger Ferguson: a, a CEO job,
I think most importantly, his

values never changed, right?

No matter how

Justin Dyer: No

Roger Ferguson: senior or experienced he
got, his actions spoke louder than words.

He was,

Justin Dyer: than words.

He was,

Roger Ferguson: funny, funny story here.

You

Justin Dyer: story

Roger Ferguson: when he was a CEO

Justin Dyer: he was a CEO at TIA,

Roger Ferguson: at TIA, he
would still sit middle seat

Mena Hanna: seat

Roger Ferguson: flights,

Justin Dyer: flights,

Roger Ferguson: other employees who
would be getting business class,

first class, and they would look
really dumb and pretty guilty when

Justin Dyer: guilty

Roger Ferguson: the CEO was sitting

Justin Dyer: was

Roger Ferguson: in the back, in
the middle, and they were spending

Justin Dyer: they

Roger Ferguson: company
dollars sitting in the front.

And so these, these things,
no matter what had happened,

Justin Dyer: what

Roger Ferguson: his values

Justin Dyer: his

Roger Ferguson: the same.

And so we talk about money
as a tool internally.

I'd say

Mena Hanna: say

Roger Ferguson: is a tool if you
use it a- appropriately, right?

Like

Justin Dyer: right?

Roger Ferguson: to a
hammer, everything's a nail.

That's not necessarily what,
what we want to focus on here.

It's more

Justin Dyer: here.

It's

Roger Ferguson: how money is a
tool to invest the right way,

Justin Dyer: the

Roger Ferguson: to save so you can do
what you wanna do in the long term, right?

Justin Dyer: term,

Roger Ferguson: was sort

Mena Hanna: if

Roger Ferguson: the full
sentence, it'd be that, right?

And so

Justin Dyer: right?

And

Roger Ferguson: able to…

I was able to see him, no matter
kinda what the bank account looked

like, no matter what we were doing,
no matter what trips we were on,

Justin Dyer: trips we

Roger Ferguson: was still a level
of frugality and understanding that

we don't really need to do that.

Family is the core.

Family is the ecosystem.

We are the richest people in the
world because we have each other,

and we have the dynamics internally.

We have the dinner table conversations,
and that was the same from,

Justin Dyer: same from,

Mena Hanna: the

Roger Ferguson: born up until,

Mena Hanna: up

Justin Dyer: born up

Roger Ferguson: to him on
the podcast a few weeks ago.

And so

Justin Dyer: ago.

And so

Mena Hanna: nothing

Roger Ferguson: nothing really
changed about who he was.

And then to the point of
practice what you preach,

Justin Dyer: what you

Roger Ferguson: he still to
this day is, I would argue,

the same person that you know,

Mena Hanna: you know,

Justin Dyer: you know,

Roger Ferguson: that I met, right?

Justin Dyer: I

Roger Ferguson: 30, 30-plus years ago.

Justin Dyer: plus years ago.

Roger Ferguson: he has not,

Justin Dyer: has not,

Roger Ferguson: he has not wavered on it,
and he continues to be someone who, when

he says he's g- his say-do ratio of you,
when he says he's gonna do something,

Justin Dyer: do

Roger Ferguson: he does it, right?

And if he says, "I don't wanna
spend money on that," he does

not waste his time doing that.

Justin Dyer: time

Roger Ferguson: He mentioned he
doesn't keep up with the Joneses.

I can attest he does not, right?

He is,

Mena Hanna: is,

Roger Ferguson: uh, he has had the same
sneakers and Carhartt pants for years.

Justin Dyer: years.

Roger Ferguson: the, probably to the
chagrin of my mother, he still wears,

Justin Dyer: still

Roger Ferguson: clothes on
the weekends 'cause he doesn't

want to go buy new clothes.

He doesn't need new clothes.

That's how he views his life, and

Justin Dyer: his life.

And

Roger Ferguson: you know, uh,
it, it, it's just very much,

Justin Dyer: just

Roger Ferguson: representative of
kind of how he's aligned himself.

He would put,

He would put,

99 cents for every dollar away and
spend 1 cent if he could, right?

That is really

That is

how he operates, and

operates,

it firsthand.

So it's just, it's exciting to see it,
live by it, and then be able to take

that with me, you know, going forward.

And then obviously, ideally pass that on

Mena Hanna: that on

Roger Ferguson: to the
clients we work with

Mena Hanna: with.

Justin Dyer: Yeah.

I mean, it's, uh, the-- so much, uh,
of what we're talking about, what you

two have, have observed and commented
on, I think really boils down to

discipline, the power of discipline.

Um, and sometimes that comes easier to
others, uh, than, than, than not, right?

And especially within the, the
world we live in today, the,

the constant bombardment of go
buy this, go buy that, right?

And I think it's, you know, w- at least
with respect to this podcast, with

respect to how we work with clients
on a day-to-day basis, we wanna bring

that perspective to them as often as we
possibly can, 'cause you need it, right?

It's why, uh, why media i-
is, is what it is, right?

We, we wanna consume these reminders.

We wanna consume sometimes
bad reminders as well.

But the discipline that you're,
you're, that was conveyed, let's say,

um, across the board really is, is an
important takeaway I wanna, I wanna

make sure we, we throw out there
and talk about a little bit, right?

Whether it's, uh,
diversification as discipline.

Like we-- It, it's very easy to kinda go
chase the hype, uh, the hype investment,

the hype product, the hype machine, right?

Uh, again, especially in this day and
age where everything is so magnified.

But to your point, Roger, the, the
discipline to, to truly challenge

yourself, to-- and to surround
yourself by people that challenge

yourself, that's a role that we
like to play with our clients.

Um, a-and certainly, I think successful
individuals, and your dad probably is

very much in this, uh, category, th-they
surround themselves by the right mentors,

by the right peers that, that are not, uh,
necessarily living, um, out of alignment

with who, who they truly wanna be.

What is it that, you know, you're, you're
a, you're a product or the average of

the five, six closest people, uh, in
your orbit, and I think that's incredibly

important, and ties back to w- exactly
what you were saying, Roger, around

what's actually important is the family,
the people that are sitting around the

table with you, the values that you're
both teaching as parents to that family.

But, um, certainly as, as children get
older and, and into adulthood, like,

they're bringing their own value to
the table as well, and I, uh, those,

those are incredibly important.

Um, a couple other things I wanna make
sure we, we, we bring into the, the more

like takeaways for the everyday investor.

The, the idea of what is
generational wealth, right?

We use the, the, the OBJ
example, and I think there's some

interesting, uh, tidbits there.

And, you know, it was a, it was a
nuanced answer, and, and to be fair,

I think that's, that's correct, right?

Um, $100 million- And just to, to
refresh everyone, the comment was,

"Oh, $100 million is not enough
for multi-generational wealth."

Uh, I'm-- I might be butchering
it, but more or less that's what

was, was trying to be conveyed.

And, you know, things have gotten
more expensive as, as generations,

um, come, come to reality, right?

You're dividing a large pool of money
into more and more, um, people, right?

And that's a completely fair point.

You should-- You could also argue on
the flip side that if done well, going

back to my comment around discipline
or Roger, you just said saving 99

cents for every penny spent, you know,
that $100 million can be a substantial

amount of money, especially for so many
of our listeners that are at an age

where compounding, uh, the compounding
power of markets is insanely powerful.

I mean, give Warren Buffett $100
million when he started investing,

he'd be, you know, probably the
richest person, uh, in the world now.

You know, he once was,
but he's been overtaken.

I just can imagine that his, his, uh, his,
his portfolio would've done even better.

So yeah, I, I'm curious if you
guys have any, any comments

or just responses to that.

Mena Hanna: I'd, I'd agree.

I would say around the spending
piece, really every dollar that leaves

your account is a dollar that you
could have done something else with.

There's an opportunity cost there.

So a lot of times, and I like to ask
myself this question too: Is this

furthering what I am trying to accomplish?

Is this dollar that's being spent
making my life better, not only

just now, but in the long term?

Am I spending money on the right things?

Is this purchase…

Should I buy this new car?

Should I buy this new phone?

I'm like two generations behind
right now, and I don't like that.

But at the end of the day, it's--
there's, there's a better use in

my mind for sixteen hundred bucks
than, than buying a new phone.

So all of these little decisions that
you can just think about, do I spend

a hundred and thousand-- a hundred
thousand dollars on this Cadillac?

Do I potentially put that money away
and pay for college for one of my kids?

You know, these are all decisions
that you make, especially early on in

life, that because of the point that
you made, Justin, compounding, those

decisions are actually so much more
impactful and more important for our

listeners, for our clients than I would
argue for the average person because

of the power of compounding and because
of your opportunity set of what you

can truly accomplish with this money

Justin Dyer: money.

Roger Ferguson: Yeah, I would
only, I would only add that

Justin Dyer: only,

Roger Ferguson: I think
there's this thought that,

Justin Dyer: this

Roger Ferguson: have more and
it makes it that much easier.

I think Justin easier, like if you
have more, you need more discipline.

You need more people helping you
make these decisions simply because,

Justin Dyer: because,

Roger Ferguson: it, it's hard.

Human psychology makes it very difficult.

Now social media comparison
and all these things,

Justin Dyer: these things, it,

Roger Ferguson: I
respect my dad immensely.

Obviously when he was growing
up, he was not on social media.

There was no, he wasn't comparing
himself to the next CEO.

He was not comparing himself
to other people on Wall Street.

That was not a thing.

Justin Dyer: not a

Roger Ferguson: Now there's so many
opportunities to look and say, "Well,

I have this, but I don't have that."

Justin Dyer: have

Roger Ferguson: where the tools
and the team come in to say, "Hey,

Justin Dyer: to

Roger Ferguson: how do I protect myself
from all the chaos that is going on in

this world, and how do I make sure the
tools are used appropriately to help me

Mena Hanna: align

my

Roger Ferguson: long-term vision?"

If I have more time,

that just means I need more discipline.

That's just more years of real focused
discipline and really understanding

the power of compounding, because

it

can it

can, be,

you know your

best

friend

or if done incorrectly, you
can miss out on a lot of upside

and a lot of opportunity.

And so I think that's where
kind of we come in, is

Justin Dyer: in

Roger Ferguson: helping protect a lot
of these people from making those,

Justin Dyer: those,

Mena Hanna: you know, inevitably,

Roger Ferguson: difficult
decisions when it comes

Mena Hanna: it comes

Roger Ferguson: to human capital and,
uh, you know, real capital obviously

Mena Hanna: not, you know, real

Justin Dyer: Yeah.

Well, awesome perspectives.

I, I really enjoyed
this conversation today.

I think we can wrap there.

Probably could go on much, much
longer talking about, uh, the

last three episodes, or it was
one, one long conversation that

we, we, um, uh, divided up.

I-- It was a joy for me.

Lots of lessons learned.

Hopefully, you all listeners
also took a lot from it.

If you have any thoughts,
comments, questions, uh, for us,

certainly shoot us a text message.

Mena Hanna: Six two six eight
six two zero three five five

Justin Dyer: We're, we're happy to
answer them, whether it be a future

podcast or just on a one-off basis.

Um, and like we always say, shoot
general topics and questions that you

want us to address, uh, on this podcast.

Again, hopefully you enjoyed
both today and our, and our, our

perspective, our takeaways, but the,
the last three episodes as well.

And until next time, own your wealth,
make an impact, and always be a pro.

Thanks for listening