#158 - Why the 10-30-30-30 Strategy Could Change How Pilots Invest

[00:00:00] Hey everyone, welcome back to Passive Income Pilots. Tait Duryea and Ryan Gibson here for another week of financial education. What's going on, Ryan? How you doing? I'm doing great. I see that you have a fire extinguisher behind you. So just in case the if your hair catches on fire in this episode from all the things that we talk about, Tait's got you covered. He's got a fire extinguisher. Is it expired or is it current? Is it good? Is it charged?

[00:00:20] I think it, I'll check it afterwards. But you know what? It's because I'm sitting in a short-term rental. So, you know, you got to have your fire inspections when you're doing short-term rentals, which I think we're going to talk a little bit about today. We are. Yeah, we're enjoying some beautiful weather. It was the summer solstice two days ago. I'm sure you're enjoying those long days up in Seattle. Yeah, the summer solstice is the best time. It's always funny how it comes in June. You know, you kind of think it comes in July or August or something, but it's actually in June.

[00:00:47] And then so now the days are getting shorter, which kind of is disappointing to think about. But in the Pacific Northwest, it's the best time because we get all kinds of light. And speaking of that, you know, I just got back from taking the 185 camping, Johnson Creek, Idaho. If you guys have ever thought about doing backcountry flying, great place to go. Good to go with an instructor your first time, but I kind of dealt with it.

[00:01:09] You probably crossed paths with John Yost, our director of acquisitions, because he was out there in his one. What does he have? Shoot, I forget. But he's got a tail dragger as well. And he flies out there with his family. And so you might have been in the in the lineup with John Yost. I love it. He's a Boise guy. Oh, yeah. So, yeah, we did some mountain flying training.

[00:01:33] Watched that Idaho safety video probably 50 times and did some canyon flying in the Snoqualmie Pass, actually, with the other guy that was that's in there on the 185. And, you know, it was really fun flying the canyon walls and and landed and camping there for a few days and taught the kids how to use a pay phone. Yellow Pine, Idaho, by the way, has a pay phone. So that's kind of fun teaching them how to do a collect call, which, by the way, one hundred collect work still. It's fifteen dollars a minute to accept the call.

[00:02:01] Is that right? It is. Yes. And the strategy is you just call the pay phone back and it rings and you pick up. So that's just a little quick tip if you ever get stranded. I think 90 percent of collect calls are probably from jail, but we won't go there. Tait, before the show, we were talking about how we diversify our investments, you know, our kind of our strategy behind how much money do you want to have in cash? How much money do you want to have in the stock market? How much money do you want to have in short term rentals like the one you're thinking about?

[00:02:29] And then how much money do we want to have in syndications and private placements and private deals, private real estate deals like our passive deals that we offer people? That's what we're going to talk about today. And we're pretty excited to get into it. That's right. Ryan, you call it the 30303010 or the 10303030. What is it? 10303030. My favorite. There it is. Yeah. And we're going to talk about that today. Right. So really, it's about stashing money all over the place. You know, wealthy people have money in the stock market.

[00:02:59] They have money in private deals. They have money in real estate. They have money in businesses. They have money all over the place. And so that's what we're going to get into today. So with that, let's get to the show. Welcome to Passive Income Pilots, where pilots upgrade their money. This is the definitive source for personal finance and investment tactics for aviators. We interview world-renowned experts and share these lessons with the blind community.

[00:03:29] So if you're ready for practical knowledge and insights, let's roll. All right, Ryan, 10303030. Let's start with the 10. Well, I would say that when you think about your net worth, and let's just use a million dollars to make it matters simple here. $100,000, 10% of your net worth. By the way, this is just our friendly conversation. This isn't giving investment advice or anything like that. But 10%, $100,000, you should have in cash and cash equivalents.

[00:03:55] And what I mean by that, that's like a money market account, a savings account, a checking account, anything that you can have access to within a day. Right? This is kind of like your emergency money. Now, you can manage your emergency money really well. Like you could have, you know, I never recommend having a hundred, if you were a million dollar guy, having $100,000 in your checking account. That's kind of silly. Because if you have $100,000 in your checking account, it's making 0.05%. It's not making any money.

[00:04:24] But now some banks will let you kind of slide it into a money market fund that targets like three and a half or 4%. Who knows? Maybe there's somebody out there that even has something that pays you more than that. But the idea is that it doesn't have a lot of exposure. It doesn't have a lot of risk. And that more importantly, you can bring that money back at pretty much any time and have it for emergencies. And that's why you want to have that liquidity, 10% of your net worth. Make sure it's on temperature though. Again, I've seen a lot of people just park money in checking accounts.

[00:04:53] I actually knew a pilot who had $800,000 sitting in a checking account. Oh my gosh. First of all, there are some new banking products out there that some fintech companies have put together where the FDIC limit, what they do is they put this network of sweep accounts together. It pushes the FDIC limit above that $250,000. But normally, your federal deposit insurance corporation limit is $250,000.

[00:05:20] So anything above $250,000, if the bank collapses, you're out. Remember we did an episode on Silicon Valley Bank? Oh yeah. And there were businesses that had millions and millions of dollars in there. And of course, the Fed stepped in and bailed that out. But not a good idea to have more than $250,000 in a checking account anyway. But the fact that that FDIC limit is there is for your protection.

[00:05:43] And any bank you walk into, if you give them $800,000, they're probably going to bring you into the back room and introduce you to some kind of special person. And they're going to say, oh, you have a lot of money. Let me introduce you to Joe or whoever in the bank. And then they're going to offer you more products. And so usually that means you're going to have some type of money market account you can put the $800,000 into. And it gives you that higher FDIC insurance limit.

[00:06:09] So you're protected from bank collapse and you're getting a better interest rate. So we don't need to go too far into that. I'm sure at Spartan, we're clipping about 4.2% to 4.5% depending on the range of the fund. And I think that's pretty average right now. I would say that if you're not making at least three and a half. With idle cash, you're saying with your operations accounts. Correct. And if you're not making at least three and a half percent, 3.4%, I would scratch the head and kind of figure that out, right?

[00:06:38] Because you don't want to be leaving money on the table. That's $4,000 a year that you're leaving on the table. So make sure that that money is making money. Here's what the 10% is not. It's not a HELOC. A HELOC can go away. It's not a 401k loan. That's something you got to pay back. It's not a leverage against your stock brokerage account, right? It's not any of those things. It's cash. It's money that's yours. It's not borrowing against your life insurance money. That's different, right?

[00:07:06] So just to be clear, this is just raw cash sitting in an account that you can have access to that doesn't have any kind of thing owed against it or something that could be like a HELOC that could be frozen for whatever reason, right? So that's good. Great point. Great point. All right. Next 30? Next 30. All right. So this is my favorite because as a pilot, you've got this on autopilot. If you're an airline pilot, which 90% of our listeners are, you have to do nothing here.

[00:07:34] You literally could fall asleep at the wheel and this will take care of itself. If you're at Delta, United, American, Southwest, any one of these major airlines, they're automatically contributing somewhere between 15% to 20%, whatever it might be, to your 401k. You don't even have to match it. It literally will just go in there and be in the market. And 30% of your net worth, at least 30% of your net worth should be in this type of managed money, right?

[00:08:01] This also could include things like the guy at the bank that wants to coerce you into some products that they offer. I can't say I don't or do recommend that, but that could be part of that money. If you have a taxable stock account on the side that's sort of managed money in the market, and what's the characteristic of that is that it's liquid. You could actually sell those positions and take that money. You could take a withdrawal from your 401k. I'm not recommending that because you're going to pay penalties and fines and taxes on that and things like that.

[00:08:29] But it's still money that you have access to. A taxable stock account is also very good because, again, the problem with that is, like I said, there's penalties and fines to pull that out. But also there could be gains, and now you have taxable things that you have to pay on your taxable account because you're selling your positions. Or maybe the market's down and you're selling positions and you really want to hold until they go up, right? You don't want to sell when you're down. You want to sell when you're up necessarily.

[00:08:57] So managed money in the market, 30%. So now if you're that million-dollar guy, you have $300,000, 30% of your money in some kind of stock bond, mutual fund, managed money. And as a pilot, again, if you make $300,000 a year, they're going to max it out without you putting a drop of money in that account, which is pretty cool. So we've talked about this before, but I just want to touch on the 401k limits.

[00:09:25] So as of 2026, that compensation limit is $360,000. What that means is the airline is going to contribute that money to your 401k until your gross year-to-date income hits $360,000. Then it's going to cut off and it will either go spill cash into your paycheck. If you're signed up for a market-based cash balance plan, we've done episodes on that with Tim Pope. Go check that out.

[00:09:51] Really good episode that talks about market-based cash balance plans and how those things work. But if, let's say, Delta is dumping 18% into your 401k, we've also talked on another episode about how much you can contribute and whether you maybe should contribute to your 401k earlier in the year or wait for the company to fill it up and then you backfill it later to hit that limit.

[00:10:17] The combined pilot company contribution into your 401k for 2026 is $72,000. So if, let's say, Delta ratcheted it up to a 20% contribution, you actually would have no room to contribute at all because they would hit that $72,000 limit at the same time as you would hit 360. And so it would turn off your ability.

[00:10:44] Basically, the IRS says, hey, after you've made $360,000 a year, you're done. The company can contribute no more to your 401k because you are now a highly compensated employee and this isn't built for you. This is built for the middle-class person. And you're bumping up into- Your explanation was dead on. And that's why I just say, there's really nothing you even need to do here. Right, exactly. So honestly, I don't contribute to my 401k until the very end of the year.

[00:11:09] I top it up based on the Delta that I have, the difference that I have in between what the company was able to contribute and what might be left. And so I might have $8,000, $10,000 that I can squeeze into it, but I want to let the company max it out. I don't want to show up to the table early with a bunch of my money and then force my airline to spill cash into my paycheck. All right, so what we just talked about, all the things we've talked about give you no tax advantages. Okay, the 10%, no tax advantage.

[00:11:37] You're going to make interest and you're going to pay your CPA at the end of the year or your TurboTax is going to say, where's your form from your bank that shows you how much interest and they're just going to drop that right in. The market, yeah, I get it. I understand how a Roth and a traditional works. But you pay tax on it eventually. You either pay tax on it before you put it in or you pay tax on it when you take it out. So you're paying tax on it. There's nothing tax advantaged there. And there's other episodes we've talked about with Roth and Mega Roth and Backdoor Roth and all the things you can do

[00:12:05] to avoid having mandatory distributions when you're in retirement. And that's a whole different topic. But these really are not tax strategies. The next 30%, right? So now you're a million dollar guy. We talked about the first 400 grand of your money. 10% is in liquid, $300,000 in the market. Next 10% is going to help you with taxes. It's going to help you mitigate your tax liability. But it's also going to help you control your assets.

[00:12:33] So you have control, right? So as we start to get into private placements, real estate, holdings, passive investments, you have to start putting a value on control. If something goes wrong in my life, do I have the discretion to get this money back? And are these investments tax strategies that I can benefit from, right? And so we talk a lot about on the show about short-term rentals. And I'm not saying that 30% of your net worth should be in a short-term rental. But I'm saying that is one of the things that falls into that bucket.

[00:13:03] Because you can go buy a short-term rental and write off the depreciation, right? And there's a whole episode on that. We'll give you the episode number here in a minute. But there's a whole episode on, I think, episode 14. We talk about this. And literally, Toby Mathis in the episode says, I don't know why pilots don't do this every year. Go buy a short-term rental, write off the depreciation, get $100,000, $200,000 tax write-off,

[00:13:27] and then have a hard asset, a piece of real estate that ideally appreciates and provides income to you. And maybe even is in a place that you have a lot of fun with, right? It's a place that you want to go rent yourself or maybe even retire in. And it's paid off and dealt with then. But this is going to give you tax breaks. Tate is literally sitting in his short-term rental. And he got one of them, right? And he got a huge tax break when he bought that.

[00:13:55] We had a Southwest captain on that talked about how he bought one in Texas. And he actually has a lot of fun in that because he does a lot of the investing with his family. So he teaches his family about what's going on. There's some kind of emotional investment that goes into that because he gets to spend time with his kids and his wife, and they like fixing it up and doing all these things. And he got a huge tax break. So these are things. And lastly, if he ever got into a situation where he needed to sell that property, he could sell it.

[00:14:24] Now, I'm not saying he would have to, you know, he would sell it at a loss or a gain or whatever. But he would have control over that. He could say tomorrow, he could say, you know what? I need the money back. I'm going to sell it in three months or four months. He's going to have that income back, right? Or that cash back. So that's a really important characteristic. So you're buying things like hard assets, rental properties, short-term rentals, maybe precious metals, things that are going to be in your control that give you some type of tax advantage.

[00:14:50] Now, you are going to be responsible for, you know, buying that asset, getting the lending on it, managing it. It's very active. It's hands-on. It's going to take a lot of your time. But you have control. You have control. Just wanted to mention the episode numbers real quick for short-term rentals. Number 37 was a really good one. Number 41 with Dan Templin was a really good one.

[00:15:15] And then also one of my favorites, Daniel Rustin wrote the book called Optimize Your B&B. We had him on episode 68. You know, when I've been flying in the backcountry and bumping into pilots, and, you know, some people have nice $400,000, $500,000 carbon cubs and Sky Lanes. And every one of them, like, what do you do? What do you do for work? Some, you know, there's some airline pilots out there, but some of them are like, I own a bunch of short-term rentals. Like, the wealthy understand this concept really well.

[00:15:46] And again, control is important because you want to be able to do that. But with control comes responsibility, right? If you can control what you're doing, that usually means that you're the one at the helm and captaining the ship. And so that leads me to the next one, right? The final one. So we talked about if you have a million dollars in net worth, $700,000 now. 10% liquidity, $300,000 in the market. $300,000 could have gone to like a down payment on a short-term rental or multiple short-term rentals.

[00:16:15] You can leverage. And that's another thing. When you get into this hard asset game, you can start leveraging money, right? You could take a $300,000 down payment and buy a million dollar house, right? You could take a $700,000 loan and you could put down a $300,000 payment. Now you have a million dollar asset that's appreciating because you use that $300,000 down payment. You get the tax write-off and the depreciation and this really nice house that hopefully goes up in value or rental that goes up in value that generates income.

[00:16:44] So there's a lot of things going on there that you wouldn't otherwise get, which is why the wealthy really like this strategy. Absolutely. So the last 30%, $300,000 passive investments, right? So syndications, private placements, investments that are tax advantaged, right? And so I like to give kudos to Tate and Turbine Capital for things like oil and gas, doing a working interest in like Waypoint deal, which is going to literally give you a huge tax break.

[00:17:13] Like that is something you don't control, but that's something you're getting a massive tax break on, but you're also getting the benefit of it being truly passive. And selfishly, you know, some, one of the deals like that Spartan does, we offer self-storage investments, right? Where you don't have control of when we sell, you don't have control of the deal, but you're getting the benefits of bonus depreciation. You're getting the benefits of monthly cashflow and the upside of that real estate.

[00:17:40] And you're, you're investing in a partnership that is giving you a specific tax advantage that is also giving you cashflow that you, that you have, but you have to remember, you don't have the ability to say, you know what? I really need that 300,000 of my total thing back. I'm going to sell all those today. You can't do that. It's illiquid. That's the, one of the downsides to it as well. So if you invested in like something like Tait's Waypoint deal, which is an oil and gas deal, that is going to give you a big tax break. So Tate, if I put a hundred grand into that,

[00:18:09] what would I get in a deduction? We target 80 to 90% right off in year one. So, okay. And that can be against your earned income, right? That is correct. So, so you, and this is the, we've talked about real estate professional status ad nauseum on the show, very difficult to get better if a spouse can get it because they need 750 hours, more real estate related activities than in their normal job. But, you know, real estate professional status is very difficult to get.

[00:18:38] And what real estate professional status gets you is any real estate is depreciable against, you can take the losses on your real estate against earned income. If you can't get that short-term rentals are wonderful because as long as your average stay is seven days or less, bingo, you get that real estate depreciation. You can take it right off against your W-2. Oil and gas is really the only silver bullet where you get a, an active non-passive loss, even though you are really just a passive investor.

[00:19:06] And so we build a big portfolio of small minority working interests in large oil companies, drilling projects. And so we'll have a basket with dozens of drilling projects all over the U.S. And because of the, the tax advantage nature of this, because the government wants to incentivize drilling activity, they allow investors to take non-passive losses to the tune of about 80 to 90% of their investment amount against W-2 income. So Ryan, you were talking about your storage deals.

[00:19:36] You know, I'm in a bunch of storage deals with Spartan. They're fantastic. So what about Spartan's, uh, storage deals? How does that work? Yeah. I mean, if you put, you know, again, we're talking about the last 30%, right? So a hundred thousand dollars in a deal, you're going to get a 20 to 30% tax break on the investment that you make through bonus depreciation and cost segregation. So you're going to benefit from that partner's tax efficiency, that partnership tax efficiency. We also do on some of our deals, we do monthly income, right?

[00:20:03] So you're getting cashflow every month and you're getting the appreciation from the sale of the self-storage. You don't control the asset, but you have the ability to benefit passively from that as well. You're not going out and searching the market for a million self-storage deals and trying to figure out financing and how to put a down payment down and running and dealing with the management and all this stuff like we talked about in the prior 30%, but you're trading that for the ability that you don't have control over the sale.

[00:20:28] So you're benefiting tax wise efficiently from this investment, but you're also getting the passive income and you're not having to do the work. So it's kind of a nice bucket. The reason why I mentioned this last, right? Is I like to see investors take care of all the things that we talked about first. So specifically, like I'll tell you, take you probably to this, like it's a story of United guy that called me, right? United airline pilot called me. He's like, Hey, I just got, I just got hired. I listened to your podcast. I love this. What do I do?

[00:20:58] Right. And it's like, you don't have to do anything, right? First of all, get that first bucket full, right? Of your liquidity. That's super important. You know, maybe, maybe assume you're going to be, you know, at least a million dollars net worth by the end of the year. Put a hundred grand of that. Get your 401k going. That's great. You know, get through training, of course. And then, you know, maybe do a life insurance policy that you can lever against later and kind of get that growing. You know, maybe if you're like, you know, I don't really want to do the short term rental thing. Okay, that's fine.

[00:21:28] You know, but think about consider that, right? That's, that's kind of a road you want to really think about going down because it's active. And then, you know, once you kind of have all that sort of in line, then do these passive deals that we're talking about, right? These are kind of the last part of your investment strategy. And, you know, the story that I always hear when I get a call is, you know, Tate, I probably have this is like, I get pilots that call and they say, look, I'm doing Tait's waypoint deal to do the income.

[00:21:57] And then I'm going to use my self-directed IRA to do one of your storage deals. And I think that's been a common theme that I hear all the time, because if you're using your taxable cash, right, the income you earn, you can offset that with an oil and gas working interest deal that Tate just described. But you're, you can still get a tax benefit from the storage, but it's not as good as taking 80% of an investment and putting it against your, your W-2, putting against your earned income from a tax perspective. Right.

[00:22:26] So a lot of pilots get, you know, 401ks from their prior airlines and they roll that into a self-directed IRA. Or a TSP. And I believe it was episode, episode 110, where we have IRA club on, they talk about how you can do that. So then investors will then put some money from their IRA into one of our deals, right? Because it's in your IRA, it's not really going to get that much tax benefit inside of that. So it's, it's not, you're kind of like negating that anyway. So now you've got your complete million dollars, right?

[00:22:54] If you're a million dollar net worth guy, you got a hundred grand in the bank or cash, cash equivalents in certain things. You got 30% in the market, 30% and some hard assets that you control and own in the last 30% into your passive investments or syndications. I love that. You know, one of the things I always say is that for that last 30%, when you're a passive investor, it's really like being a passenger on a professionally flown aircraft. You're going to get a lot of benefits from being able to just sleep in the back, but

[00:23:22] you're not in control, right? You know, one of the benefits of investing in a syndication deals, you get to unlock ownership in a potentially a hundred million dollar asset or portfolio of assets. You can't do that on your own. You're going to get the benefit of professional management. You're going to get the benefit of an entire team that all they do is self-storage. So if you want exposure to self-storage, does it make sense to go out and buy a half million dollar little mom and pop self-storage thing down, down the road from you and try to manage it?

[00:23:50] Maybe, but you know, it probably makes a lot more sense to put some cash into a very large portfolio of self-storage assets that are managed by a professional team. The problem is if you ask for your 50K back in two years, Ryan's going to tell you, sorry, it's in bricks and sticks. And the business plan was for five years and it makes, you know, we need to pilot this aircraft from point A to wherever the intended destination may be. And maybe it means doors closed.

[00:24:20] Doors are closed. You can't get off. You can't, you know, once you're on the taxiway, you can't be like, Hey, I want off this thing. Right. You're going. And there might be some deviations around storms. You know, it might, you know, you might get into a holding pattern, you know, you're over Heathrow and the traffic's backed up. The market's not great, you know, and the team goes, Hey man, you know, we're going to have to wait for these thunderstorms to pass before we can land this thing. So you're not in control there, but there's pros and cons.

[00:24:46] And I think where people get frustrated in those situations where they're on that, that aircraft, so to speak, that's, you know, in a holding pattern is when they haven't properly built this 10, 30, 30, 30 portfolio, where they have access to plenty of liquidity and they're not worried about that. They're like, Hey, this is, I know that this is passive. It's not my whole portfolio. When people dump too much money, especially too early into a bunch of passive deals,

[00:25:13] and now they get into a liquidity crunch and they need cash back. And now they start calling and saying, Hey, I need this cash back. And it's like, that wasn't the deal. These are illiquid investments that are long-term holds and, uh, and people need to come into them with the right mindset there. Here's, here's something I'm going to throw in there. And this is going to be wildly unpopular. I think, I think 30%, you know, when you talk about short-term rental. I think 30% in that bucket where you, the hard asset you can control. I think you can count your house on that.

[00:25:43] Okay. And I know, and I know there's a lot of gurus out there that, that disagree with me, but I think when you're putting your house in that bucket every month, instead of paying a landlord, you're paying down a mortgage and you're still, you can still recall that liquidity back by selling your house might be at a discount, might take you three months, but I would put your house in that bucket. I would agree for a different reason.

[00:26:09] And that is because you get the appreciation and I can't tell you how many times I've taken HELOCs out of a primary residence to buy more real estate. I totally agree. I, and the, the fact that the mortgage write-off, right? I, the quick calculation in my head is like the interest you pay, you can deduct. And that's usually about two months free is what it works out to be. The tax savings you get from that is usually about two months free. I don't know if that's the case today, but that when I bought my first house, it's kind of like what the mortgage guy kind of talked me through.

[00:26:38] So, so anyway, and then you can rent out a room. You can turn that into a rental property later. Right. Right. So there's a lot of things you can do, right? What apartment building that you just throw money at, like our apartment that you rent, you can't do anything with that. So I would put that in your bucket. Right now, here's some really exciting things that we've not talked about on the show. I don't think at all. If you just heard about all this stuff, right. And you're like, this sounds really cool. I want to learn more. Well, guess what?

[00:27:05] We are going to have the inaugural first ever passive income pilots live conference in Las Vegas. And we're going to be talking about all this stuff. We're going to be talking about life insurance, 401ks, trust, wills, estates, planning, investments, due diligence, all these things that we're talking about. Cause you probably heard like, well, then how do I, do I do this syndication or that syndication? How do I know which one to do? How do I do my due diligence and all that, right? These are all important things. And I've lost hundreds of thousands of dollars doing the wrong syndications with the wrong people. Right.

[00:27:34] And so, right. It's the same with Tait. Right. So like we want to bring the right, the brightest minds into the room. So I'm excited because we're going to do this in Las Vegas on October 8th and 9th of this year. Yes, sir. And tickets aren't, are not on sale quite yet, but they should be within the next week or two. And, uh, we're going to have a blast. Yeah, we are. We have some really cool things in the works, uh, at the, at the event, which we're going

[00:28:03] to talk about more later, but we actually have attorneys coming to this event. We have attorneys and advisors doing one-on-one consultations with people during the, during, so if you have like specific questions about your specific situation, uh, we have some amazing speakers coming on some people that you've heard on the show. Uh, and I think the best part is, you know, whenever I go to a conference, it's like the people on stage are great and I learn a lot, but like in the hallways, right?

[00:28:31] I get so much in the hallways and the dinners at night and the drinks and all these things. So. Absolutely. Absolutely. And it's like you said, it's not just the people on stage. It's not just the people speaking or presenting. It's the fact that we want to bring this, you know, there's all these pilots out there that we talk to on a weekly, a daily basis that love the show. It's an opportunity for you to meet all the other pilots out there that are interested in this stuff.

[00:28:55] And we get to build more of a community and more of a, you know, cross collateralization between the industry. So it's going to be an industry event as much as it is going to be, uh, you know, a financial education event and a, and a trust and estate planning and asset protection event. So I can't wait. And if you're listening and your spouse is interested in coming, uh, that's actually included in the ticket. So like, you don't have to buy two tickets.

[00:29:22] You can just buy one and then your spouse can comes because we know this is important, right? Like maybe you're a spouse of a pilot listening to this show. We have a lot of spouses that listen to the show, um, and join the Facebook group and things like that. So yes, this is for both of you and, uh, we'd love to meet you. I think we're going to have a great time. We're going to do a VIP ticket side of the sales as well. And we're going to throw in some extra fun things to do. I don't know. I don't want to like tease it out too much, but we have a bunch of really good activities planned for that.

[00:29:51] But, uh, yeah, more on that later, but Tate, it's been great catching up with you, man. And, uh, I think we'll wrap things up. 10 30, 30, 30. We'll see you next week, everyone. Thanks for listening. Take care.