Latest / Money Grows on Trees / #256 - RBA Rate Predictions For Australia in 2025

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#256 - RBA Rate Predictions For Australia in 2025 · Money Grows on Trees

• 0:00
  If you want lower interest rates in a full employed economy, then
• 0:03
  be prepared to pay for $8 coffee. The change in your mortgage repayment
• 0:07
  in interest for the year is $2,000. So it's about 200 bucks a month
• 0:10
  or 50 bucks a week. So of course, if you need the RBA to cut to
• 0:14
  save 50 bucks a week, I would encourage you to look at your expenses. It's
• 0:18
  a challenging time to have a lot of mortgage debt and to have a family because
• 0:21
  you're spending money on family, groceries, entertainment, cars
• 0:25
  that's actually going to work, childcare, and then you also got a mortgage where
• 0:28
  you need the mortgage rates to fall because you bought it potentially at the wrong time
• 0:32
  when they were super low when the banks let you buy them and now you're in a bind. I'm
• 0:35
  Lloyd James Ross, seven-figure investor and entrepreneur, and I've helped thousands
• 0:39
  of business owners and professionals turn financial stress into
• 0:42
  success. If you're stuck in old money habits, overwhelmed by investing,
• 0:46
  or unsure where to start, this is for you. I'll give you the mindset
• 0:50
  and strategies to take control, grow your wealth, and achieve
• 0:53
  financial freedom. It's time to make your money work for you. Will
• 0:57
  the RBA cut rates hard in 2025? That's
• 1:01
  the question. You'll get an answer on this episode and of course, stay
• 1:04
  to the end because I'm going to explain to you how to benefit the most or position yourself to
• 1:08
  do the best when it comes to rates and how to handle that. The
• 1:13
  RBA stands for the Reserve Bank of Australia and whether it's the Reserve Bank or
• 1:16
  the Federal Reserve in the United States or the Central Bank of any particular country,
• 1:20
  the objective of the Central Bank is to provide full
• 1:23
  employment or encourage full employment and provide stability to
• 1:27
  the economy. The reason why they're around is because before Central
• 1:30
  Banks existed, there was a lot of boom and bust cycles and
• 1:33
  a lot of panic. And with panics come bank runs. And
• 1:37
  that's when people go to the bank and they take all their money out and they run and put it under the
• 1:40
  mattress because they're in a panic. There's an absolute drop in confidence and
• 1:44
  that has happened many times in the past. Bank runs have happened and
• 1:47
  banks have actually gone out of business. So they introduced central banks
• 1:50
  to manage that, the stability of an economy. And the
• 1:54
  objective of the central bank is to manage the expectations of
• 1:57
  employment. So the objective is to create full employment. Their
• 2:01
  objectives are to manage interest rates, to dictate the speed or
• 2:04
  the growth or the retraction in the economy, so
• 2:08
  it makes sure it doesn't overheat and doesn't underheat. That's
• 2:11
  the objective. They do that with interest rates and then effectively just provide the stability and
• 2:15
  prevent panic. In Australia, the Reserve Bank of
• 2:18
  Australia is in charge of those things, but interestingly too, The
• 2:22
  Reserve Bank sets the rate, the interest rate, at
• 2:25
  which other banks can lend and borrow money from each
• 2:28
  other. That's the actual rate that banks borrow
• 2:32
  and lend. So when I say the Reserve Bank interest rate
• 2:35
  or the country's interest rate, I mean the rate that the Reserve
• 2:38
  Bank sets for banks to do that. That's also called
• 2:43
  the cash rate. So there's
• 2:46
  different names for the interest rate, the cash rate, the reserve rate,
• 2:49
  it's the same thing. In finance, it's funny because there's a
• 2:53
  different name for the same thing, just because I like to confuse people. So recently,
• 2:57
  the Reserve Bank of Australia, the interest rate, so again, when
• 3:01
  they set that rate, banks borrow and lend in that rate, but then they
• 3:05
  lend to you. So they'll borrow for 3.85%, for example,
• 3:09
  the reserve rate, and then they'll lend out. to the
• 3:12
  retailer, the customer, you the bank customer
• 3:16
  at 5.8 and the bank will make the
• 3:19
  margin, so they'll make the difference. That's called the net interest margin. Net
• 3:23
  interest margins are how banks make money. If you look at our banks, Commonwealth
• 3:27
  Bank makes the highest net interest margin generally. It tends
• 3:30
  to, but they were very similar because they borrow at the same rate. They lend
• 3:34
  out at a similar rate, so it's very, very similar. You
• 3:37
  usually see net interest margins during interest rate rises
• 3:41
  tend to expand. That's why banking businesses like Westpac,
• 3:45
  ANZ, and if you're in America, Wells Fargo, Bank of America, whoever it might be,
• 3:48
  banks tend to do better as businesses when there's rate increases because they end
• 3:52
  up being able to widen their net interest margin
• 3:55
  as they go. Whereas when the interest rates are cut, the net
• 3:59
  interest margin is squashed down. And back in 2017, 2018, when they
• 4:03
  did a banking royal commission, interest rates were a lot lower, and the net
• 4:07
  interest margin of the banks were getting squeezed. And so that was potentially
• 4:10
  a reasonably good time to be buying bank stocks. And now they've very
• 4:14
  much widened. Commonwealth Bank just hit a massive high of like recently
• 4:17
  of $191, which is four times book value, which means
• 4:20
  it's like way overpriced. in my opinion, and
• 4:24
  that's because they've had this wonderful run of increasing interest rates since
• 4:27
  they came from like 0.1 all the way up to, it was
• 4:30
  like 4.1 and of course they've come down since then
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  to 3.85, right? So now you understand that, you
• 4:37
  have to kind of realize that that's the rate at which banks borrow and lend, and
• 4:41
  it does have an impact on you, because if the cash rate or reserve
• 4:44
  rate goes up, bring back inflation, provide
• 4:48
  stability or full employment, whatever it might be, then
• 4:52
  the banks will then lend to you at a higher rate. So when interest rates go
• 4:55
  up, it'll certainly, if you've got a mortgage, it'll hurt your back pocket. And
• 4:58
  if they fall, if you have a mortgage, it'll help your back pocket. And that's why people
• 5:02
  are getting so excited and doing, I've seen people doing little dances on
• 5:05
  TikTok and so forth and social media when the RBA reduces
• 5:09
  rates. If people are doing dances when the reserve bank drops their
• 5:12
  interest rate by like point something percent, And people are doing dances,
• 5:16
  that tells me we're in a real estate bubble, as far as I'm concerned. So that's a
• 5:19
  very good signal that if people are dancing on that stuff on a very small rate rise,
• 5:23
  we're in trouble, I think. We've certainly taken on a lot more debt
• 5:26
  than we should have. Doesn't mean it's going to end badly, but it probably doesn't mean
• 5:29
  we've got much room to move upwards either. So how the RBA works
• 5:33
  is that once a month on a Tuesday, they'll meet together, the Reserve
• 5:36
  Bank Board will come together and they'll vote on
• 5:40
  whether they should reduce rates, keep them the same or increase
• 5:43
  them based on what the economy is doing. So they'll take
• 5:47
  signals from the economy. They look at employment primarily and
• 5:50
  they look at inflation primarily. So two things, inflation, they look at
• 5:54
  employment. They're the two important things for them because what they don't want to happen,
• 5:58
  they don't want employment to go up because they want people to be in jobs. Because
• 6:01
  I know if there's less people in jobs, the GDP will fall, we'll go through a recession and
• 6:05
  they also don't want massive inflation. Inflation is where prices of things go
• 6:08
  up because there's so much money in the economy, people are spending so much, it's bidding prices
• 6:12
  up. It's also flooding the marketplace with money. So
• 6:15
  there's an oversupply of currency and also a lot of spending. So
• 6:20
  they look at that as well and they determine the
• 6:23
  rate cut or rise will stay the same decision once
• 6:27
  one Tuesday every month. So they do vote. So it's not like
• 6:30
  some person just goes, that's what we're doing. So it's very, you know, I would say
• 6:33
  it's a democratic process. The chances of a rate cut will be
• 6:37
  dictated by those two things I said before, the inflation rate
• 6:40
  and the employment rate, right? So recently, like, Only a week
• 6:44
  ago, from when we're recording this anyway. There was a high expectation in
• 6:47
  the marketplace. It was like, the betting markets were betting without
• 6:50
  a doubt, yes, they're going to drop interest rates because we're
• 6:54
  all hurting from our mortgages that we bought in 2021 when interest rates
• 6:58
  were at all-time lows. And now they've gone up, which we never thought they would, but they
• 7:01
  did because we don't understand financial education that
• 7:04
  much. They wanted to go down again. But the thing with interest rates
• 7:08
  is if you look back in the last 100 years of Australian interest rates,
• 7:13
  last hundred years of Australian interest rates. The average interest
• 7:16
  rate, the reserve rate, has been 5.5%. That's
• 7:21
  the average interest rate. And right now, and
• 7:25
  for the last five years, we've been below the average
• 7:28
  rate by a lot. We actually went so far below it, down to almost zero, that
• 7:33
  the average, to get back to 5.5% now, we have
• 7:36
  to increase them up like further than 5.5% but
• 7:39
  of course that's not what's happening. What's happening is because of the debt loads
• 7:42
  of households, the RBA is going to find it
• 7:45
  difficult to increase the rates back up where they should be to
• 7:49
  prevent inflation. That's why your coffee is now almost $8 and
• 7:52
  that's why beers now at the pub are $12 is because interest
• 7:56
  rates were too low for too long. Remember,
• 8:00
  the RBA has to watch inflation, make sure it's not usually above the 2% mark,
• 8:04
  and they have to make sure there's a full employment. We've had full employment for a long time.
• 8:08
  It's a bit over 4%. It's pretty good. And then on the other side, inflation was
• 8:12
  really high during COVID because of the low interest rates. It's like,
• 8:15
  that's what caused it. And so you have to understand when
• 8:18
  they reduce interest rates and the economy is doing well. So it would tell
• 8:22
  me that in the 4%, 4.5, 4.7% range, that's
• 8:26
  full employment. That's good. The economy is doing well, right?
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  And now if the economy is doing well and they reduce rates, inflation
• 8:34
  spikes. And so if you want lower interest rates in
• 8:38
  a full employed economy, then be prepared to
• 8:41
  pay for $8 coffees. Because when you have
• 8:44
  low rates, it floods the marketplace with money. And so everyone was betting
• 8:48
  recently that the RBA would drop rates. Without a doubt, oh my God, they're
• 8:51
  going to drop rates for sure. Of course, they had their meeting and then bang,
• 8:55
  it came out. They left rates exactly the same. They held
• 8:58
  rates at 3.85%. And
• 9:01
  everyone expected a cut. And what happened to that was when they left it,
• 9:05
  the Australian dollar rose in value because if you have a
• 9:08
  higher cash rate or interest rate in the country, you end up attracting
• 9:11
  a lot more investment from abroad into our bond market. And that increases
• 9:15
  the value of our dollar. So you see an increase in the Australian
• 9:19
  dollar against other currencies, not in itself, but against other
• 9:22
  currencies when there's a high interest rate here. So you saw the Australian
• 9:25
  dollar move from say 60, 61 US cents up to 65 US
• 9:29
  cents because rates stayed the same. They didn't drop. Everyone was expecting a
• 9:32
  drop. So when you drop rates, you also devalue the local currency.
• 9:37
  And that helps our terms of trade when that happens. So for our export market,
• 9:41
  that really does help our terms of trade. So we bring in a lot of US dollars. That's
• 9:45
  great for our economy and our GDP growth. But of course, it's
• 9:49
  not the be all and end all. Just quickly, if you're ready to take control of your finances but
• 9:52
  feel stuck on where to start, I have a solution. My
• 9:55
  book, Money Bias Happiness, simplifies investing and
• 9:59
  wealth building with practical steps to help you achieve financial peace.
• 10:03
  Get your copy via the link in the show notes and let's get your money working for
• 10:06
  you. Now back to the episode. So because they kept rates the same, now
• 10:10
  they're expecting over the course of say next
• 10:13
  month in August, they are expecting the rates to fall and
• 10:17
  drop. Some people are anticipating a 3.6% interest rate.
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  But I want you to know that there's two things on the RBA's mind. Since
• 10:26
  the decision to keep rates at 3.85% since
• 10:30
  then, employment data came out after and it showed unemployment
• 10:34
  rising a little bit. That's interesting. And
• 10:37
  now people are saying, we'll see, the RBA got it wrong. But on
• 10:40
  the other side, Consumer Price Index went up to
• 10:44
  2.4%. So they've got a problem here, the RBA, because containing
• 10:48
  inflation is more important than
• 10:51
  maintaining employment. Because if you inflate the current, it's so difficult
• 10:55
  to bring inflation back because it gets sticky and gets stuck at the top. If it
• 10:58
  went up and got stuck at, say, 5% or 6%, interest rates will go to
• 11:01
  10%, probably, and everyone will default on their
• 11:04
  mortgage. Well, not everyone, but a lot of people. So they're more interested in
• 11:08
  containing inflation than they are containing and maintaining full employment.
• 11:12
  They want to do both, of course. But if they had a choice right now, they've got to watch
• 11:15
  it. Because if they drop rates further and interest rates spike, are
• 11:19
  in a bit of trouble. So they're watching the inflation rate more
• 11:23
  so than the employment rate. But the employment rate will have an impact now on
• 11:26
  how they approach the next cut or remain the
• 11:29
  same or interest rate rise. And people are suggesting too
• 11:32
  that if inflation ticks up again and spikes up, and you're probably seeing inflation
• 11:36
  at your coffee shop, when you go to the grocery store, your lettuce, how
• 11:40
  much is lettuce? You probably saw it with eggs, like why eggs?
• 11:43
  Well, because you want low rates. And so if you want low rates, you've got to pay for high
• 11:47
  priced eggs. I bought some eggs the other day, it was 11 bucks. So they're
• 11:50
  watching that and they gotta be careful. So if
• 11:54
  you are someone who wants a rate cut, fine, I understand you want that to
• 11:57
  reduce your mortgage balance. By the way, if they took a 3.85% rate cut
• 12:02
  down to 3.6% rate cut, the change in your mortgage repayment
• 12:05
  in interest for the year is $2,000. So it's about 200 bucks
• 12:09
  a month or 50 bucks a week. So of course, if you need the RBA
• 12:12
  to cut to save 50 bucks a week, I would encourage you
• 12:15
  to look at your expenses like coffee, like grocery, What are
• 12:18
  you spending your money on to save that 50 bucks yourself so you don't have to rely on the RBA
• 12:22
  for all your financial decision-making? I think if you have to rely on the RBA to
• 12:26
  cut rates, to survive financially, you have made some incredibly
• 12:30
  poor decisions in your own finances, which include maybe buying a
• 12:33
  house at the wrong time. I had someone message me the other day on Instagram and say, Lloyd, I
• 12:36
  bought my house in 2021, now interest rates have gone up, now I can't afford to do stuff. What
• 12:40
  did you think was going to happen? This is why it's important to understand history,
• 12:43
  because if you know the rates in history have been all around
• 12:47
  5.5 to 6% on average, you knew that it probably wasn't
• 12:51
  going to last a zero. At some point it was going to go up. How did
• 12:54
  you not think that? It's because people have People aren't reading things. They're not staying up
• 12:57
  to date. They're not watching this podcast like you are because you're intelligent and
• 13:01
  you're trying to improve yourself and understand these concepts. These
• 13:05
  are very important economic concepts that I'm explaining to you that you must
• 13:08
  know to see when is a good time to buy a house. What does
• 13:12
  get people in trouble? Charlie Munger, Warren Buffett's business partner has this
• 13:15
  great saying, show me where I'm going to die so I never go there. I want to show
• 13:19
  you why these economic signals are important for
• 13:22
  you in your finances. If you want the
• 13:26
  RBA to cut rates, fine. If they cut them, okay. But
• 13:29
  watch inflation because if that ticks up to 3%, 4%, 5%, we're
• 13:33
  in a lot of trouble. And I know you don't want to pay more for your groceries, okay? So
• 13:36
  we have to be watching the cost of living crisis as well as the
• 13:39
  employment issue. So I personally think the employment the
• 13:43
  unemployment numbers going up, more unemployed people slightly,
• 13:48
  because the net migration is high. If you're pulling
• 13:51
  people into a country and there's only a finite amount of jobs at
• 13:54
  the current time, then of course the unemployment rate is going to go up
• 13:58
  because you're pulling people into a country and they're going to lose their job and not get another job.
• 14:01
  I think the data is distorted with
• 14:06
  the employment number. I'm more conscious of the, and I'd be more conscious
• 14:09
  of the inflation number because Yeah, if that gets
• 14:12
  out of control and they have to increase rates again, you are
• 14:15
  going to really hate having a mortgage by then. So
• 14:19
  let's hope it doesn't come to that. Let's hope the RBA, and they seem to be very sensible because
• 14:22
  they're the ones that kept it steady. And if you look at the history
• 14:26
  of 5.5 on average, I would anticipate that we
• 14:29
  really could have kept rates at 4.1% for
• 14:33
  a lot longer before dropping. But you got to look at, you got
• 14:36
  to understand too, like the RBA is thinking of people and their back pocket. And in Australia,
• 14:40
  property in this country is religion. And so if everyone owns a property, and
• 14:44
  the whole country is one big tribe, and the RBA said, nah, we're going to
• 14:47
  keep rates at 4.1%, people like to send them death threats. So
• 14:51
  they've got to balance this careful thing of like, oh, we all know these
• 14:55
  people have got way too much debt on their hands because housing has gone mentally out of control because of
• 14:58
  the immigration policy. But they're not going to reduce that because why would they bother doing
• 15:01
  something so sensible and common sense? They're not going to do that. They're just going to do the
• 15:04
  uncommon sense and just keep pulling people in. So if that's the case, they've
• 15:07
  got to manage this very delicately, the RBI. And I feel sorry
• 15:11
  for them. I don't know how they're going to do this. So hopefully, with less
• 15:14
  government spending, if that's possible, we'll see inflation fall enough
• 15:17
  where they can actually start reducing rates. So it's really funny. Folks
• 15:21
  want all this relief. They want welfare. They
• 15:25
  want NDIS support. They want the government to fund new infrastructure.
• 15:29
  They want the government to spend all this money, which increases inflation. They
• 15:33
  then want the RBA to drop interest rates on their mortgage so they can afford it,
• 15:36
  which, guess what, increases inflation. And then they whinge and
• 15:39
  whine about the price of eggs. You want your cake and you want to eat it. You
• 15:44
  can't. You're going to have to choose. What do you want? This is the problem
• 15:47
  we're in at the minute in our country. It's a bit of a challenging time. It's
• 15:51
  a challenging time to have a lot of mortgage debt and to have a
• 15:54
  family because you're spending money on family, groceries,
• 15:58
  entertainment, cars, et cetera, going to work, childcare. Then
• 16:02
  you also got a mortgage where you need the mortgage rates
• 16:05
  to fall because you bought it potentially at the wrong time when they were super low when the banks
• 16:08
  let you buy them. And they're in a bind. And I think a lot of Australians, and
• 16:12
  for that matter, a lot of people across the United States and UK and so forth, are in
• 16:15
  the same boat. And this is why I have some fun
• 16:19
  real ads running at the minute. You may have seen me pop up and talk about real estate and
• 16:23
  against it, because I'm against people rushing out to follow
• 16:27
  the crowd into property. And I'm against the banks lending
• 16:30
  to people at low record interest rates when they knew, even though they've
• 16:33
  got buffer rates they apply to the situation, They
• 16:38
  were letting people borrow money at the bottom of the rate market knowing
• 16:41
  full well it was going to increase. I'm against that. I'm against just following the crowd into
• 16:45
  a property because you think you have to own one to be a sensible, to
• 16:48
  be what I call a non-peasant of Australia. That's why when people call me
• 16:51
  up, I get sometimes a telemarketer might grab me on my phone and I answer it.
• 16:54
  I'm like, hello. They go, we'd like to talk to you about solar. I said, no, no,
• 16:57
  don't worry about it. I'm a peasant. They go, what? I said, I'm a peasant. They go, what do you mean? I said, I don't own
• 17:01
  any real estate in Australia. They can't sell me
• 17:04
  anything. You know, I think it's this weird societal thing that we think about at the
• 17:07
  house. Anyway, this is why the focus has
• 17:10
  been on the RBA, because people
• 17:14
  have found themselves in a position where they need to depend on it. Where I think it's
• 17:17
  going to go now is, I would hope, personally, for
• 17:21
  inflation control, I hope they stay at 3.85% for
• 17:24
  longer. But of course, I'm not the one making the decisions for everyone else in the country,
• 17:28
  and you might see the RBA fall a little bit. Let's just hope that inflation doesn't
• 17:32
  go up. And I believe that the unemployment numbers, if
• 17:36
  they keep rising, they may dictate that the RBA drops rates just
• 17:39
  to maintain full employment. That could be a possibility. And
• 17:43
  we're not even factoring in the effects over the next, let's
• 17:46
  say, 10 years. There's a couple of big macro trends happening at the
• 17:49
  same time. No one's probably factoring in the rate at which jobs
• 17:53
  will be eradicated in some respects by
• 17:57
  artificial intelligence. We don't know the rate at which they'll disappear or
• 18:00
  robotics will start to do that. Usually, technology doesn't take as—it's not as
• 18:03
  fast as what you think. It takes time to adopt technology, but
• 18:07
  AI is being adopted pretty quickly. How many jobs will be taken by
• 18:10
  AI? How many are taken because our immigration policy
• 18:14
  is set wrong? And how many will be just the natural attrition of
• 18:19
  the employment cycle? That's what we have to consider.
• 18:23
  And we have to also make it effective for businesses to hire. So how
• 18:26
  is our regulation set with government as well? So those things do have
• 18:29
  a huge impact on the employment numbers. It's just, is
• 18:32
  it a long-term trend or is it something that's only short-lived? And hopefully it's short-lived. and
• 18:37
  we can have a sensible, steady interest rate at around the 4% mark,
• 18:40
  which is probably where it should be, and maybe even 5%, because that's
• 18:44
  the long-term average. And I would be shocked if it didn't move back to the average at some
• 18:47
  point. But let's see. And if you're someone who's praying for
• 18:51
  the rate cut, I would encourage you to look internally at your own
• 18:54
  personal finances, understand why you're in a position where the government
• 18:57
  decision will dictate your financial future. And have a real good look at
• 19:01
  your bank statement and what you're spending money on and start to take control of it yourself
• 19:04
  instead of relying on the government. If you're someone else who doesn't have
• 19:07
  a mortgage and you're praying for rates to fall so you can get into the market,
• 19:11
  I would encourage you strongly to make sure you've got enough cash equity, you
• 19:15
  understand exactly what you're doing, you've done your numbers, it's in the detail and you're not
• 19:18
  just trying to FOMO your way into the real estate market because by all accounts, if
• 19:22
  inflation goes way up, rates will follow it and that can get you in
• 19:25
  a lot of trouble. We
• 19:29
  don't know where it's going to go. The likelihood of a 3.6, a cut
• 19:33
  to 3.6 is there. It may happen. And
• 19:37
  if it does, fine, let's just hope that inflation doesn't go up. And people are
• 19:40
  saying like, oh, it's going to be three big deep rate cuts. And they're only saying,
• 19:43
  I know they're only saying that because they've got a mortgage and they don't want to pay more. I
• 19:47
  know. They're incentivized to want it to fall, but they don't know the other side of
• 19:50
  the coin. They don't understand inflation rates and how bad that can be. We
• 19:53
  don't want to turn into a place where it costs $1,000 for a flipping carton
• 19:57
  of eggs. It happened in Germany. It's happened in Zimbabwe.
• 20:00
  It's happened where we don't want to inflate away. the currency. And
• 20:04
  that's why people are flocking to Bitcoin and these other speculative
• 20:08
  assets because they're afraid of their money disappearing in value. And
• 20:12
  we're causing that as a country to happen. So we're causing people
• 20:15
  to speculate because they've got no other option. That's another episode. So
• 20:19
  I'm going to do another episode on that topic. So if you want to learn about what I think the
• 20:22
  uncertainties of what's causing people to move to things like Bitcoin, Buckle
• 20:26
  up for that one, I'll come and give it to you. But hopefully you've learned something in this episode about
• 20:30
  what the cash rate is, why it's there, what the RBA does,
• 20:33
  what their objectives are, the likelihood of a cut, the impact it
• 20:36
  will have on you if they cut or stay the same, what the long-term averages
• 20:40
  have been. This is all very important information and
• 20:44
  financial signals to equip you with the ability to
• 20:47
  make great financial decisions. So if you've enjoyed the episode, pop
• 20:50
  a comment below as to what you took away from it the most. And I'll come back and I'll reply
• 20:54
  to almost pretty well every comment on our YouTube channel. And of course, if you're listening on
• 20:57
  Spotify, share this with a friend, hit the subscribe button so you get the next episode as
• 21:00
  fast as you can. And thanks for tuning in to the Money Grows on Trees podcast. Thanks
• 21:04
  for listening to Money Grows on Trees. If you enjoyed the episode, leave a
• 21:07
  five-star review on Apple Podcasts and Spotify and subscribe
• 21:11
  to us on YouTube so you never miss an episode. And if you're serious about
• 21:14
  building wealth, make sure to check out the links in the show notes and follow me
• 21:18
  on all social media platforms, at LloydJamesRoss for