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Speaker 1: Welcome to How the Money. I'm Joel, I'm Matt. Today

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Speaker 1: we're answering your listener questions.

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Speaker 2: You know what, buddy, let's get after it. We're gonna

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Speaker 2: hear directly from listeners. We've got a listener who's asking

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Speaker 2: what he should be doing about his student loans that

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Speaker 2: are in for bearans. Another listener is actually looking forward

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Speaker 2: to collections. Could this be a strategy, Joel, We'll talk

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Speaker 2: about what he's thinking about. And another listener actually encountered

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Speaker 2: some financial infidelity, and so I'm gonna uncomfortably wait into

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Speaker 2: playing financial counselor maybe, and we'll see what kind of

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Speaker 2: terrible advice that we give in that section of the

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Speaker 2: How the Money podcast. You didn't even sleep at a

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Speaker 2: holiday and I didn't even do it. Man, I'm still

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Speaker 2: gonna try. Well, hey, you've got this thing about Shutterfly here,

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Speaker 2: we got like a new sponsorship or something. No no, no, no,

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Speaker 2: new affiliate code. So I was not even that.

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Speaker 1: I was curious because I have a lot of photos

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Speaker 1: that I don't really have backed up, and I guess

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Speaker 1: I could just like buy a cheap hard drive and

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Speaker 1: download everything from my phone and send it over to

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Speaker 1: a hard drive, but it would be nice to have

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Speaker 1: them stored in the cloud somewhere. Oh yeah, and I could.

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Speaker 1: I'm you know, you know this about me, I'm kind

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Speaker 1: of cheap. Sometimes at times I can be cheap, and

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Speaker 1: so I'm wondering, I don't pay for the Apple Cloud.

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Speaker 2: What's it called? Apple Cloud? iCloud, I Cloud? Okay cloud?

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Speaker 2: I should have done that. Are you pasted? You? We talked,

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Speaker 2: We talked about this last week. It's that's what the

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Speaker 2: ice stands were. I looked it up while I was

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Speaker 2: editing that podcast that episode. It was Internet because I think,

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Speaker 2: I really because before then the computers weren't always directly

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Speaker 2: like tied or tethered to the Internet or something. So

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Speaker 2: evidently it was like, oh yeah, this stands for this

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Speaker 2: that is now interfacing with the Internet's with the World

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Speaker 2: Wide webs.

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Speaker 1: Well it works well because nobody thinks of it like

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Speaker 1: that anymore, and they just think, isn't it No, it's

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Speaker 1: the Mac for me.

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Speaker 2: Yeah. Actually, I was thinking when you said that, oh yeah,

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Speaker 2: it probably is more of like because it's it was

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Speaker 2: sort of like that era where you had all that

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Speaker 2: cool ads with the silhouettes dancing with you know that. Yeah,

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Speaker 2: I was with you. I wasn't gonna question it, but

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Speaker 2: I did look it.

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Speaker 1: Up so I could pay for the cloud via Apple

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Speaker 1: and a dollar a dollar a month.

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Speaker 2: I think, right, you get no five, you get five

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Speaker 2: gigabytes for free, right, So did you really? I think?

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Speaker 3: So?

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Speaker 1: Okay, Well, it keeps giving me this warning over and over,

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Speaker 1: like your stuff's not backed up.

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Speaker 2: Or probably because you've filled it. Yeah, that's probably it. Yeah,

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Speaker 2: you filled it up.

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Speaker 1: And I'm like, well, I don't want to pay you

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Speaker 1: money every month. It feels like blackmail, and so leave

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Speaker 1: me alone. And maybe I should just get over that.

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Speaker 1: But I was curious because actually this was the biggest

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Speaker 1: reason to have a Google Pixel phone back in the day.

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Speaker 2: The automatic Google photo storage.

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Speaker 1: Google basically said hey, you get unlimited photo storage. And

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Speaker 1: I was like, this is one of those things to

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Speaker 1: keep me with Pixel when they got rid of it,

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Speaker 1: so I was like, well, you've lost your edge.

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Speaker 2: So the question is do you still have those photos

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Speaker 2: or did you lose them to the cloud?

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Speaker 1: All the photos that yet, that's a really good question.

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Speaker 1: I don't know if I know, like I feel that's

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Speaker 1: they're probably lingering somewhere, but they might be like okay,

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Speaker 1: it's a hardware.

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Speaker 2: Yeah, all right, give me the give me the Shutterfly

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Speaker 2: tie in. Okay, where this is going?

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Speaker 1: So Shutterfly, I was like, looking this up, I was like,

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Speaker 1: who offers free photo storage? And nobody really does anymore.

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Speaker 1: It used to be flicker. Flicker used to was oh yeah,

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Speaker 1: back or is it? What is it twenty ten? I mean,

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Speaker 1: come on, buddy, But Shutterfly apparently says you can get

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Speaker 1: free unlimited photo storage if you buy a product once

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Speaker 1: every eighteen months. Okay, And I was like, that seems

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Speaker 1: like a reasonable trade off, because no, I'm not paying

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Speaker 1: somebody money every single month.

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Speaker 2: How much did you say? Like how much storage? It's unlimited? Really?

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Speaker 2: I think it's unlimited. Oh fascinating. Wait is it unlimited

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Speaker 2: for the photos that you upload in order to create

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Speaker 2: the product that they're selling you?

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Speaker 3: No?

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Speaker 2: I think like literally, you can just be like I

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Speaker 2: think all your photos. I think so, yeah, maybe I

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Speaker 2: need to go look at the fine print. Sorry for

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Speaker 2: the sound effect, the pretty sure that maybe I yeah,

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Speaker 2: unconsciously did the sound effect because that's what I think

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Speaker 2: about it. I think it's fine. First of all, I

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Speaker 2: love that you searched. Is there a I'm sure you

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Speaker 2: chatted it or whatever, like, is there a free option

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Speaker 2: out there? Because I appreciate that that you're out there

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Speaker 2: looking for You're looking for the deal, trying to find

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Speaker 2: the work around. But the reason I asked about your

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Speaker 2: Google Photos is because it can be so hard to

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Speaker 2: keep up with all these different accounts for sure, and

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Speaker 2: which photos you have stored all over the place. And

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Speaker 2: this is coming from someone who has had a lot

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Speaker 2: of experience when it comes to storing photos. I used

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Speaker 2: to be a photographer, had tons, like tons and tons

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Speaker 2: of terabytes of images and files. And before that, I

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Speaker 2: was a designer, and so my illustrator files, on my

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Speaker 2: photoshop files like these were all files that I wanted

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Speaker 2: to own and possess and to keep on my person

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Speaker 2: And I personally resisted the cloud, but I ultimately I

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Speaker 2: don't keep up with all the different spots where I've

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Speaker 2: got on files, all my pictures stashed. We as a family,

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Speaker 2: pay for the upgraded, upgraded ic cloud.

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Speaker 1: Okay, so you can get a family account as well,

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Speaker 1: so we can kind of store it together.

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Speaker 2: Pay one thing, yeah yeah, yeah, okay, So that's that's

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Speaker 2: the benefit. Is I pay one price for the two terabytes.

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Speaker 2: It's ten bucks a month. And guess what all my

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Speaker 2: photos are on there? Kate's iPhones backed up, My iPhone's

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Speaker 2: backed up, my computer's backed up, the laptops backed up

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Speaker 2: to that. That shared family plan. It makes it a

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Speaker 2: little bit easier to get in there and control screen

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Speaker 2: time settings. Her old ast oughters. Her iPhone is backed

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Speaker 2: up onto there as well. It's I love how integrated

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Speaker 2: it is. Maybe do the ability to be able to

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Speaker 2: look back at pictures from like twenty five years ago,

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Speaker 2: like the featured photos. I love that. Yeah, I love

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Speaker 2: that We've talked about memory dividends and having those images

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Speaker 2: as pictures like at your fingertips. I think it's worth

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Speaker 2: it personally, and this is this is something I've done

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Speaker 2: in the I guess maybe last year, a couple of

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Speaker 2: years ago is when I finally said, all right, I'm

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Speaker 2: gonna move all my entire photo library, you know, onto

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Speaker 2: the cloud and under the web, as opposed to it

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Speaker 2: living on a single single device that was backed up.

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Speaker 2: But personally, I think it's I think it's massively worth okay,

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Speaker 2: because I feel.

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Speaker 1: Like I'm living in like the early two thousands and

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Speaker 1: I'm like the files are in the computer, like two

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Speaker 1: thousand and five, I think I need to I need

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Speaker 1: to have some sort of cloud backup, and maybe I

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Speaker 1: just need to stop being a loser and just pony

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Speaker 1: up to ten bucks. Well, if listeners have a suggestion

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Speaker 1: something outside of the box, I would love to hear it,

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Speaker 1: because for us, we have found that it's worth it

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Speaker 1: and it works. And oh man, here's just I hate

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Speaker 1: all the notifications all the time. It's like you're still

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Speaker 1: stone backed up your stuff.

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Speaker 2: I know, man, they're trying to get you.

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Speaker 1: I know, I feel like I'm being like pushed into

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Speaker 1: this relationship.

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Speaker 2: Against my will. It feels like you're getting bullied. Yes,

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Speaker 2: have you optimized for photo storage? It's where they it's like,

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Speaker 2: have you have you looked into your photos your setting?

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Speaker 2: I think I've done that recently at least. Basically, it

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Speaker 2: stores on your device the like a low res version,

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Speaker 2: and the high reds is living on the web on

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Speaker 2: the clouds, so that way, if you recall the photo,

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Speaker 2: it'll instantly download it basically and allow you to see

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Speaker 2: the full reds. If you're like zooming in.

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Speaker 1: Okay, for something that still requires paying for the surface stuff,

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Speaker 1: well that just requires or it requires less space on

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Speaker 1: your actual phone.

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Speaker 2: Okay, so yeah, I don't know. I wanted to say

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Speaker 2: one other benefit. Man, I don't want this to sound

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Speaker 2: like an ad for iCloud, but Kate and I do

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Speaker 2: a shared photo library as well, which means that any

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Speaker 2: photo she takes in any photo I take, were able

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Speaker 2: to see each other's photos, which is awesome. And I

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Speaker 2: recently discovered this when you're putting together speaking of buying

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Speaker 2: products from different photo companies, I was creating a photo

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Speaker 2: album for last year again, memory dividends. Like you know,

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Speaker 2: I remember looking at photo albums as a kid, and

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Speaker 2: the ability to look back at trips and stuff that

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Speaker 2: we had going on, and seeing both of our photos

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Speaker 2: together in one single stream to kind of pick the oh, oh,

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Speaker 2: actually I want to go with that one instead, it's

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Speaker 2: taken from a better angle, that kind of thing. I

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Speaker 2: don't know. To me, that was yet another reason why

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Speaker 2: I was so thankful to be able to have overlapping

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Speaker 2: photo storage like that.

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Speaker 1: I'm just like so averse to bringing in another subscription

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Speaker 1: into my life.

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Speaker 2: I resisted it for a long time too, dude, But

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Speaker 2: I'm telling you, the water's fine. It's okay. If yeah,

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Speaker 2: if you're willing to pay it up, it's really nice.

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Speaker 1: And if you're a listener out there and you're like, no, no,

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Speaker 1: there's a better way forward, please tell me now. Yeah,

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Speaker 1: all right, let's mention the beer we're having on this episode.

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Speaker 1: It's called Cloak and Dagger. It's a Vienna lagger by

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Speaker 1: Incendiary Brewing. We'll give our thoughts on this one later

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Speaker 1: on the episode, y boy, And if you have a

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Speaker 1: money question we want to hear from you, you can

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Speaker 1: go to how to money dot com, slash ask, or

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Speaker 1: just literally record a voice member with your money question

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Speaker 1: on your phone and send it over to us how

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Speaker 1: to moneypot at gmail dot com. All right, Matt, let's

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Speaker 1: take questions. This question is specifically about it's it's a

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Speaker 1: frugal or cheap conundrum in regards to healthcare costs.

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Speaker 3: Hey, Jela, Matt, this is Daniel from Salt Lake City.

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Speaker 3: I love the podcast, so thanks for all you guys.

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Speaker 3: Do I have a question about whether something I'm considering

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Speaker 3: is frugal or is just cheap. So We've had a

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Speaker 3: lot of medical expenses recently, and I've been trying to

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Speaker 3: get to discounts wherever possible. I applied for financial assistance,

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Speaker 3: even though I didn't expect to qualify, and ultimately they

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Speaker 3: deny me. So when I called the billing department, they

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Speaker 3: told me the best discount they could do was just

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Speaker 3: ten percent. Now, I've done this before with other hospitals,

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Speaker 3: and I've gotten a thirty percent discount before, but they

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Speaker 3: wouldn't go any lower. So I asked if there was

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Speaker 3: anything else they could do, and the billing specialists they

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Speaker 3: mentioned something unconventional. They said, wait until the bill goes

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Speaker 3: to their internal collections. You see. He explained that they

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Speaker 3: don't report to the credit bureau and that once the

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Speaker 3: account is in the collections, they often will discount at thirty, fifty,

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Speaker 3: maybe even seventy percent. So my question is would waiting

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Speaker 3: for it to go to internal collections to get a

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Speaker 3: steeper discount be considered frugal or is that crossing into cheap?

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Speaker 3: Thanks guys for all your help.

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Speaker 2: Ooh a billing frugal or cheap? Joel and I wondered

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Speaker 2: before we kick things off here, I want to say

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Speaker 2: that ten percent discount, you know, that's just like the

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Speaker 2: standard boiler plate. If anybody asks, you're allowed to give

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Speaker 2: them ten percent without having to check with the manager

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Speaker 2: that kind of thing. So that means it's like literally

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Speaker 2: the lowest possible discount.

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Speaker 1: Yeah, offer, and you know if you play if you

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Speaker 1: play ball a little bit harder, you can do better.

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Speaker 2: Totally. Yeah, And I think Daniel knows that. But I

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Speaker 2: love that you are asking the question, Daniel, because medical

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Speaker 2: debt is such a pain in the butt, as the

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Speaker 2: vast majority of Americans have found out at one point

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Speaker 2: or the other. But I'm glad you've gone down the

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Speaker 2: financial assistance pathway and you know you ask for that discount.

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Speaker 2: Those are the two most likely ways to have medical debt,

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Speaker 2: either forgiven or to have that bill reduced in the

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Speaker 2: first place. But because it sounds like you make a

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Speaker 2: pretty good income, the hospital is being a little stingy

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Speaker 2: with you, which I get. But it is true that

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Speaker 2: you can let this process just linger for a little

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Speaker 2: bit longer in hopes of getting a fatter discount without

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Speaker 2: financially harming yourself. And that's actually the key point. Yeah,

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Speaker 2: that's worth driving home here.

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Speaker 1: And when you say let it linger longer, that's because

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Speaker 1: there's essentially a twelve a twelve month timeframe that you

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Speaker 1: have to work in here.

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Speaker 2: Three hundred and sixty five dagy race pier.

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Speaker 1: That's right where that this bill will not be reported

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Speaker 1: to collections if it remains unpaid. Right at that point

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Speaker 1: after that three hundred and sixty five days, that's when

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Speaker 1: the unpaid debt can impact your credit, hurt your credit score,

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Speaker 1: live on your credit report. So we want you to

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Speaker 1: be aware of that deadline. But that means you've got

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Speaker 1: like a lot of time, a lot of room to

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Speaker 1: wiggle in an attempt to negotiate this debt down. And

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Speaker 1: you know, we don't want your desire to get a

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Speaker 1: deal and to pay less have a long term impact

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Speaker 1: on your credit score, because that can cascade, it can

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Speaker 1: impact other areas of your life significantly in a negative way.

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Speaker 2: And so just know this.

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Speaker 1: You're probably going to get some letters in the mail

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Speaker 1: with big red letters on them saying like final notice

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Speaker 1: or something like that. But don't freak out. Bi'll overdo right.

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Speaker 1: You get all sorts of stuff. And that's what I

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Speaker 1: think causes a lot of people to pay before they're ready,

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Speaker 1: because it strikes fear into your heart, understandably. So when

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Speaker 1: you see those letters written on a mailer, that's that

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Speaker 1: you get in you know in snail mail. But this,

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Speaker 1: this twelve month window essentially gives you a lot of

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Speaker 1: time and a lot of leverage to wait for a

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Speaker 1: better deal. Yeah, most people don't realize that that's their right.

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Speaker 1: They don't know that that's how things work, and so

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Speaker 1: because of that, they pay prematurely and they don't get

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Speaker 1: maybe the discount or the breaking price that they deserve.

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Speaker 2: Yeah, it's it's like a game of chicken, right, because

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Speaker 2: they're they're wanting you to flinch first, but the closer

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Speaker 2: you get to the end of that, they're thinking, oh

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Speaker 2: my gosh, this guy may may not actually be able

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Speaker 2: to pay, so we're willing to take Lessah. And you

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Speaker 2: know this is going to sound a bit sketchy where

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Speaker 2: you're waiting to get a better deal. But you know,

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Speaker 2: I'm going to say that the entire healthcare system is

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Speaker 2: a bit sketchy, and consumers have to figure out how

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Speaker 2: it is they're going to navigate the system that isn't

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Speaker 2: well constructed. It seems a bit unfair to a lot

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Speaker 2: of folks. And in this case, we're gonna side with

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Speaker 2: the patients. We're gonna side with you, Daniel, not for

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Speaker 2: the hospitals out there and in large part this is

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Speaker 2: another reason why it's not sketchy. Is this grace period

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Speaker 2: exists because oftentimes because most people have insurance, and so

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Speaker 2: if you get a claim that's denied, well, it gives

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Speaker 2: you time to fight that claim because the hospital wants

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Speaker 2: you do have time, like they're doing this for you

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Speaker 2: so that you can get your insurance company to pay them.

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Speaker 2: They're like, help me, help you. So that's one of

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Speaker 2: the reasons. But also there can be medical billing errors,

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Speaker 2: and so that gives you time to spend some time

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Speaker 2: looking over the bill, making sure that things are coded correctly.

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Speaker 1: That's the word, right, Yeah, and to make sure wait

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Speaker 1: a second, you charge me how much for that aspirin?

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Speaker 1: Or wait you charged me for this thing that that

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Speaker 1: seems that I didn't actually get that service at ridict yeh, yeah, you.

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Speaker 2: Can put fact on that. So it's not just the

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Speaker 2: insurance company making errors, but it oftentimes can be the

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Speaker 2: actual hospital making errors from time to time. And I

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Speaker 2: want to go back to what you said too. I

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Speaker 2: think how the money listeners in particular are at a

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Speaker 2: distinct disadvantage here because I think if you are listening

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Speaker 2: to the show, you are somebody who's a bit more organized.

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Speaker 2: You certainly have got financial goals, like in your sights, right,

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Speaker 2: and so you see this thing show up and all

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Speaker 2: of a sudden it looks like a financial threat, and

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Speaker 2: you just want to pounce on it. You want to

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Speaker 2: kept like immediately eliminate it. But what that means is

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Speaker 2: you're actually paying more than you need to. Yeah.

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Speaker 1: Yeah, if you eradicate it too quickly, it means you've

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Speaker 1: like you didn't use your leverage and you didn't use

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Speaker 1: the possibility, like the tactics that are available to you

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Speaker 1: to try and reduce that bill instead of just like

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Speaker 1: paying the full price and getting it over with. I

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Speaker 1: get that impulse, yeah, but ultimately that is going to

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Speaker 1: cost you more than you need to pay.

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Speaker 2: Totally. I just think it's ironic that somebody who's maybe

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Speaker 2: more disorganized out there yellow and yeah, is gonna be

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Speaker 2: the one who's paying, like actually will be able to

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Speaker 2: pay less because oh I hadn't seen that bill or

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Speaker 2: I didn't even open that envelope. There's like three of

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Speaker 2: them on the desk. I hadn't you know. Oh that

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Speaker 2: was six months ago, and all of a sudden they've

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Speaker 2: cut the bill by like thirty percent and talking about internally,

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Speaker 2: oh maybe forty percent.

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Speaker 1: Right data, it's like best of both worlds for right

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Speaker 1: because he is organized and he's ready, he's prepared, and

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Speaker 1: he's looking for a discount. So it's not he's not

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Speaker 1: just yellowing it. He's he's going to this eyes wide

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Speaker 1: open and an attempt to save money. I also thought

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Speaker 1: it was really interesting the person on the phone, and

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Speaker 1: you will occasionally find this right where they toss out

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Speaker 1: a piece of advice and it's kind of like you're

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Speaker 1: played blackjack matter at casino and never oh, it's really fun.

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Speaker 2: I know how to play.

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Speaker 1: It's been a long time. Yeah, but we'll find some

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Speaker 1: people are some of the dealers are a little more

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Speaker 1: tight lipped than others. And when you're playing with people

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Speaker 1: who don't know how to play blackjack, you are thankful

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Speaker 1: when the dealer is a little more open about strategy

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Speaker 1: because they're often they teach you a little bit, they

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Speaker 1: help the person make a better move and that helps

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Speaker 1: everyone at the table. And and so this is one

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Speaker 1: of those things where the person in customer service is

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Speaker 1: not being tight lipped, there being a little hey in

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Speaker 1: actually in our system, this is how it works and

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Speaker 1: if you wait a little bit longer, they're basically telegraphing

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Speaker 1: this to you.

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Speaker 2: They're like advocating on your behalf right.

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Speaker 1: Saying, well, I can't help you right now, but if

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Speaker 1: you take this strategy, you can probably save in the

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Speaker 1: long run. And so I think I would do what

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Speaker 1: Daniel is suggesting. I would wait for it to go

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Speaker 1: into collections in an attempt to work out a one

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Speaker 1: time cash payment for a lower percentage.

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Speaker 2: Of the balance.

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Speaker 1: And Matt, you talked about ten percent being a crummy discount.

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Speaker 1: What do you think maybe a good discount to shoot

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Speaker 1: for would be.

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Speaker 2: Oh, I mean, I think it varies. So here's the thing,

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Speaker 2: full disclosure. I've not done this personally, but I kind

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Speaker 2: of am excited for the next medical again, just to

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Speaker 2: be like, don't think I'm going to pay it for

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Speaker 2: a little bit and see what happens. Like I think

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Speaker 2: thirty percent seems like a slam dunk. Like I'm sorry

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Speaker 2: that that is most definitely going to be offered to you.

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Speaker 2: Whether or not you get a forty percent or fifty

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Speaker 2: percent or even higher, I think I don't know, but

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Speaker 2: I do think the closer you get to the end

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Speaker 2: of that runway they you know, collections, they start feeling

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Speaker 2: a little bit nervous because beyond that, they're selling it

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Speaker 2: for pennies on the dollar to an external collections agency, right,

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Speaker 2: and at that point they're going to receive even less

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Speaker 2: from a potential.

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Speaker 1: Yeah, I think I'll kind of treat this as a

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Speaker 1: game a little bit, And Daniel's already kind of taking

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Speaker 1: that gamification approach, But I think you're right. I think

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Speaker 1: shooting for that fifty plus percent discount and then settling

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Speaker 1: for a thirty percent discount, right, if if that's all

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Speaker 1: that's offered to you after a significant time period of

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Speaker 1: trying to work this out, it's going to be a

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Speaker 1: little bit of a part time job. It's going to

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Speaker 1: be a little bit like playing a whack a mole.

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Speaker 1: But ultimately, I think if you are intent on saving

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Speaker 1: money on this bill and you kind of let things

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Speaker 1: run their course while being active in the process, you

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Speaker 1: can probably save a lot of money off this medical bill.

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Speaker 1: And I don't know, maybe at some point we should

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Speaker 1: probably publish like a how to guide like how to

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Speaker 1: and you know what, Actually it's on my radar map

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Speaker 1: to do a full episode on this soon.

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Speaker 2: So let's make that happen. Also sounds good. Actually, we're

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Speaker 2: going to talk more about healthcare stuff hsas, but not

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Speaker 2: from a medical standpoint, from an investing standpoint. We'll get

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Speaker 2: to that and more right after this. All right, we'll back.

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Speaker 1: We got more of your money questions to get to.

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Speaker 1: Let's get to a question now about student loans and

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Speaker 1: how to proceed in a time where things are a

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Speaker 1: little murky.

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Speaker 4: Hey, Matt and Joel, this is Adam in Chicago. So

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Speaker 4: my question is about student loans. Currently, I qualify for

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Speaker 4: public service loan forgiveness, but my loans are still in forbearance.

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Speaker 4: Therefore payments are not considered qualifying. And that's fine for now,

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Speaker 4: because I'm using that extra money on money Gear three

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Speaker 4: to pay off high interest credit card debt through a

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Speaker 4: zero percent interest balance transfer I did on a new card.

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Speaker 2: I have the save.

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Speaker 4: Plan right now. So what do you recommend I do

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Speaker 4: when I finish paying off this credit card debt? Should

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Speaker 4: I switch out of the plan to another like IDR

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Speaker 4: payment or I don't know. I have no idea since

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Speaker 4: the current administration and Congress, you know, are still debating things,

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Speaker 4: so I'm kind of skipping. I know, money gears four

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Speaker 4: and five thinking about you know, low interest debt, but

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Speaker 4: I wanted to make sure I don't screw up any

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Speaker 4: loan forgiveness stuff in the future. Thanks for your advice.

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Speaker 2: Cheers cheers indeed, Adam, And first off, I hope that

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Speaker 2: Joel's recent conversation. So Joel talked with Stanley Tait, the

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Speaker 2: student loan lawyer. He's awesome, Stanley Tait esquire. He's also like.

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Speaker 1: Laid back, which I so appreciate because we're talking about

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Speaker 1: such an intent subject. There's so much like emotion around

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Speaker 1: student loans, and there's so much frustration, and Stanley's just

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Speaker 1: like chill.

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Speaker 2: Man, a literal, nice calming voice. Just also how and

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Speaker 2: how he approaches student loans and what all is going

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Speaker 2: on right now as well. But in addition to that, Adam,

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Speaker 2: I love that you are using this forbearance period to

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Speaker 2: make progress all on your other money goals, right like

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00:19:54,240 --> 00:19:57,600
Speaker 2: you are not increasing your spending, you're not counting your

434
00:19:57,640 --> 00:20:00,320
Speaker 2: chickens before they hatch. To a certain extent. Here this

435
00:20:00,400 --> 00:20:02,760
Speaker 2: multi year pause, man, it was such a good time

436
00:20:02,760 --> 00:20:05,119
Speaker 2: for folks to do what it is that you are doing.

437
00:20:05,560 --> 00:20:08,920
Speaker 2: But sadly, most folks didn't heed that advice, and that's

438
00:20:08,960 --> 00:20:11,400
Speaker 2: the advice that we were spouting. Oh, we were telling

439
00:20:11,440 --> 00:20:14,720
Speaker 2: people just to hey, make hay well the sunshine and

440
00:20:14,760 --> 00:20:15,600
Speaker 2: take advantage of.

441
00:20:15,680 --> 00:20:18,560
Speaker 1: Like don Quixote or something tilting at windmills. Because I

442
00:20:18,600 --> 00:20:20,639
Speaker 1: don't know how many people are listening, but I definitely

443
00:20:20,680 --> 00:20:22,359
Speaker 1: I know some how to money. Folks were listening, and

444
00:20:23,000 --> 00:20:25,560
Speaker 1: we've heard from those people. Maybe Adam maybe he was listening,

445
00:20:25,600 --> 00:20:28,280
Speaker 1: probably yes, heard. We've heard from those people who were

446
00:20:28,280 --> 00:20:32,320
Speaker 1: able to do massive things, make huge strides by not

447
00:20:32,400 --> 00:20:34,119
Speaker 1: having a student loan payment in their life for a

448
00:20:34,160 --> 00:20:38,600
Speaker 1: while and by doing really intelligent stuff with that money

449
00:20:38,960 --> 00:20:42,719
Speaker 1: in that meantime. But yeah, as payments have re started,

450
00:20:42,720 --> 00:20:44,840
Speaker 1: we have documented this too on the show Matt. It

451
00:20:44,880 --> 00:20:47,200
Speaker 1: has put so many people in an even worse financial

452
00:20:47,200 --> 00:20:50,320
Speaker 1: predicament because they got used to incorporating that student loan

453
00:20:50,400 --> 00:20:53,760
Speaker 1: payment back into their budget. Prices are rising. I get it,

454
00:20:53,800 --> 00:20:55,600
Speaker 1: You're like, great, now I've got a little more money

455
00:20:55,600 --> 00:20:58,840
Speaker 1: on hand to make ends meet. But then when payments restart,

456
00:20:59,080 --> 00:21:01,840
Speaker 1: people are like, holy crap, I don't know what to do.

457
00:21:02,400 --> 00:21:05,600
Speaker 1: And it has put a lot of folks in a bind.

458
00:21:05,640 --> 00:21:07,920
Speaker 1: Obviously a lot of people behind on payments right now.

459
00:21:08,359 --> 00:21:12,040
Speaker 1: And so Adam, specifically to your question, we would say,

460
00:21:12,280 --> 00:21:14,480
Speaker 1: keep trying to pay off that zero percent interest credit

461
00:21:14,560 --> 00:21:17,720
Speaker 1: card debt. The goal would be to eradicate it before

462
00:21:17,800 --> 00:21:20,600
Speaker 1: your payment restarts, which is like maybe this spring or summer,

463
00:21:20,640 --> 00:21:22,880
Speaker 1: like I don't know exactly when, and that's still kind

464
00:21:22,920 --> 00:21:27,639
Speaker 1: of in limbo. But the big risk in not paying

465
00:21:27,720 --> 00:21:31,520
Speaker 1: towards your loans while you're in this administrative forbearance is

466
00:21:31,880 --> 00:21:36,200
Speaker 1: racking up more debt because interest is accruing. But that

467
00:21:36,560 --> 00:21:38,520
Speaker 1: actually isn't that big of a deal for you, right

468
00:21:38,560 --> 00:21:42,920
Speaker 1: because you're working towards full debt forgiveness down the line.

469
00:21:43,000 --> 00:21:45,960
Speaker 1: So even if the balance is getting bigger, hopefully it's

470
00:21:45,960 --> 00:21:49,880
Speaker 1: that bigger balance essentially that's going to be forgiven down

471
00:21:49,920 --> 00:21:54,040
Speaker 1: the road. And so this is just not as daunting

472
00:21:54,560 --> 00:21:58,119
Speaker 1: to have a growing balance as someone who isn't working

473
00:21:58,240 --> 00:21:59,200
Speaker 1: toward PSL left.

474
00:21:59,240 --> 00:21:59,920
Speaker 2: So that is true.

475
00:22:00,119 --> 00:22:02,320
Speaker 1: Yeah, And by the way, I know some people worry

476
00:22:02,359 --> 00:22:05,000
Speaker 1: about the how long PSLF if it is going to

477
00:22:05,040 --> 00:22:08,280
Speaker 1: stick around, and you know, talking with Stanley and just

478
00:22:08,320 --> 00:22:10,960
Speaker 1: everything else I've seen, there is there's no danger of

479
00:22:11,000 --> 00:22:14,000
Speaker 1: PSLF going away, so that that's not something plans that.

480
00:22:13,920 --> 00:22:16,600
Speaker 2: Are already in existence. Yes, it's yeah. I mean they're

481
00:22:16,640 --> 00:22:18,600
Speaker 2: not going to say that they're grandfathered in, but you're

482
00:22:18,640 --> 00:22:20,280
Speaker 2: not going to get kicked out of something that you

483
00:22:20,320 --> 00:22:24,040
Speaker 2: are already in. Uh, there's actually yes. With the Safe Plan, Well,

484
00:22:24,240 --> 00:22:27,520
Speaker 2: but that was like short was never actually implemented. I

485
00:22:27,520 --> 00:22:29,919
Speaker 2: mean people got onto the plan, that is true, and

486
00:22:29,960 --> 00:22:31,480
Speaker 2: then and then it was completely gunned and it was

487
00:22:31,520 --> 00:22:37,520
Speaker 2: run pulled, it was gutted. So but PSLF is like inshoots. Yeah. Yeah,

488
00:22:37,600 --> 00:22:41,359
Speaker 2: student loan not just lore but actual policy. Yeah, but

489
00:22:41,600 --> 00:22:44,080
Speaker 2: there's actually a chance that some of these months where

490
00:22:44,080 --> 00:22:47,160
Speaker 2: you're not paying are going to count towards your PSLF timeline,

491
00:22:47,200 --> 00:22:50,719
Speaker 2: which by the way, is Public Service loan forgiveness. It

492
00:22:50,800 --> 00:22:54,200
Speaker 2: is not likely, but it might be possible because who

493
00:22:54,200 --> 00:22:57,239
Speaker 2: knows the student loan space. It's a moving darker right now,

494
00:22:57,280 --> 00:22:58,840
Speaker 2: so it's tough to know. But man, if I were

495
00:22:58,880 --> 00:23:02,040
Speaker 2: in your shoes, I would put in the Safe Plan

496
00:23:02,119 --> 00:23:05,879
Speaker 2: for the time being as you basically get automatically enrolled

497
00:23:05,920 --> 00:23:10,440
Speaker 2: into the new RAP that which is Repayment Assistance Plan,

498
00:23:11,359 --> 00:23:12,560
Speaker 2: and we'll see what that looks like.

499
00:23:12,680 --> 00:23:15,000
Speaker 1: Yeah, it's like you're you're hanging on You're waiting for

500
00:23:15,040 --> 00:23:18,520
Speaker 1: them to actually like finish pulling the rug. But for

501
00:23:18,640 --> 00:23:20,880
Speaker 1: that time, you're you can be on the same rug.

502
00:23:21,000 --> 00:23:23,119
Speaker 2: Yeah, just stay put. There's no point in moving to

503
00:23:23,160 --> 00:23:28,000
Speaker 2: a different repayment plan earlier than is necessary, especially with

504
00:23:28,040 --> 00:23:30,000
Speaker 2: a potential for some of these months that you spent

505
00:23:30,040 --> 00:23:34,480
Speaker 2: in four bearans to count towards your PSLF timeline, you're

506
00:23:34,480 --> 00:23:36,000
Speaker 2: gonna hit it one of these days. So there's just

507
00:23:36,040 --> 00:23:39,800
Speaker 2: no need to like rush to kick start payments again,

508
00:23:40,040 --> 00:23:43,240
Speaker 2: especially given your situation. Oh and by the way, you

509
00:23:43,280 --> 00:23:46,080
Speaker 2: mentioned too as far as like him hopefully eliminating that

510
00:23:46,200 --> 00:23:49,119
Speaker 2: high interest rate that credit card debt prior to student

511
00:23:49,160 --> 00:23:53,280
Speaker 2: loans resuming, but also before that zero percent period of

512
00:23:53,280 --> 00:23:57,159
Speaker 2: time before that expires as well, because that is gonna

513
00:23:57,200 --> 00:24:00,720
Speaker 2: be a sky high rate compared to you know, whatever

514
00:24:00,920 --> 00:24:03,080
Speaker 2: the rate is on his student loans. It's a great point.

515
00:24:03,119 --> 00:24:05,120
Speaker 2: So it's a double waymie for you to get rid

516
00:24:05,119 --> 00:24:07,680
Speaker 2: of that credit card debt and hopefully never enter into

517
00:24:07,680 --> 00:24:08,360
Speaker 2: it again. Yeah.

518
00:24:08,480 --> 00:24:10,240
Speaker 1: Yeah, that's a good point, because if you start paying

519
00:24:10,240 --> 00:24:13,160
Speaker 1: on the student loan and it and you lose your

520
00:24:13,400 --> 00:24:16,200
Speaker 1: vigor of paying on that credit card debt and then

521
00:24:16,400 --> 00:24:19,440
Speaker 1: you're starting to pay interest on that puppy again, trying

522
00:24:19,440 --> 00:24:21,520
Speaker 1: to do both. You have that singular focus right now,

523
00:24:21,920 --> 00:24:25,160
Speaker 1: and you have a great timeline to pay it down

524
00:24:25,240 --> 00:24:28,160
Speaker 1: without paying interest. So I think that's why is Matt

525
00:24:28,440 --> 00:24:31,440
Speaker 1: and ultimately Adam, we don't want you to trigger a

526
00:24:31,520 --> 00:24:34,359
Speaker 1: higher payment or you know, hit your head against the

527
00:24:34,359 --> 00:24:37,320
Speaker 1: wall trying to talk to student loan servicers who are backlogged.

528
00:24:37,600 --> 00:24:40,000
Speaker 1: When you're in a solid spot, the key is just

529
00:24:40,000 --> 00:24:41,840
Speaker 1: to keep doing what you're doing, pay down the debt,

530
00:24:41,840 --> 00:24:43,600
Speaker 1: build a saving s buffer so that you're ready for

531
00:24:43,640 --> 00:24:46,560
Speaker 1: payments to resume, and then it's not going to be

532
00:24:46,600 --> 00:24:49,520
Speaker 1: nearly as much of a financial shock in let's say

533
00:24:49,600 --> 00:24:54,240
Speaker 1: June or July when those payments come back and you're migrated,

534
00:24:54,560 --> 00:24:58,119
Speaker 1: because you're mentally prepared, right especially especially if you've saved

535
00:24:58,200 --> 00:25:00,399
Speaker 1: up a few months worth of payments and you have

536
00:25:00,480 --> 00:25:03,880
Speaker 1: fewer debt obligations. That is the double whammy, Like I've

537
00:25:03,880 --> 00:25:06,560
Speaker 1: got no credit card debt anymore, so that money's safe

538
00:25:06,600 --> 00:25:08,720
Speaker 1: and can go towards other things, and at the same

539
00:25:08,760 --> 00:25:10,240
Speaker 1: time you built up a little bit of cushion.

540
00:25:10,359 --> 00:25:12,560
Speaker 2: That's the best of both worlds, that's right. Yeah, we

541
00:25:12,640 --> 00:25:16,960
Speaker 2: would be remiss to not mention the PSLF buyback program.

542
00:25:17,160 --> 00:25:19,960
Speaker 2: So the way this works, if you are close to forgiveness,

543
00:25:20,520 --> 00:25:23,679
Speaker 2: this is a way for you to retroactively turn months

544
00:25:23,720 --> 00:25:27,320
Speaker 2: that didn't count as qualifying PSLF payments. So in your case,

545
00:25:27,320 --> 00:25:30,399
Speaker 2: it's the months that you spent in fourbearans into qualifying

546
00:25:30,400 --> 00:25:34,439
Speaker 2: months by paying what you would have paid under an

547
00:25:34,440 --> 00:25:38,720
Speaker 2: income driven an IDR plan during those months. But you

548
00:25:38,760 --> 00:25:41,120
Speaker 2: can only take advantage of that if you have enough

549
00:25:41,160 --> 00:25:43,399
Speaker 2: cash on hand to get you exactly to that one

550
00:25:43,480 --> 00:25:45,520
Speaker 2: hundred and twenty month mark. And so it's like a

551
00:25:45,640 --> 00:25:48,360
Speaker 2: very I don't know, it's a very precise maneuver. Yeah,

552
00:25:48,840 --> 00:25:52,199
Speaker 2: and if you are really close to being out of that,

553
00:25:52,240 --> 00:25:53,880
Speaker 2: I think that's something. It's sort of like some folks

554
00:25:53,880 --> 00:25:56,560
Speaker 2: who are just like, man, I'm thinking about folks who

555
00:25:56,600 --> 00:25:58,080
Speaker 2: have like a mortgage and they're just like, I'm just

556
00:25:58,119 --> 00:26:01,880
Speaker 2: gonna I want to be done with it. So that's

557
00:26:01,960 --> 00:26:04,560
Speaker 2: up to you and whether that makes sense from giving

558
00:26:04,600 --> 00:26:05,760
Speaker 2: your financial situation.

559
00:26:05,840 --> 00:26:08,320
Speaker 1: And it seems like with Adams particulars, there are just

560
00:26:08,440 --> 00:26:10,680
Speaker 1: other things that are higher private.

561
00:26:10,880 --> 00:26:13,359
Speaker 2: He's got other goals. I think he's absolutely just going

562
00:26:13,440 --> 00:26:15,280
Speaker 2: to let this scene. He's going to write it out

563
00:26:15,600 --> 00:26:16,760
Speaker 2: and just have a ton forgiven.

564
00:26:16,800 --> 00:26:19,080
Speaker 1: But for a handful of folks out there that could

565
00:26:19,119 --> 00:26:22,159
Speaker 1: make sense, I guess it's worth at least considering the

566
00:26:22,160 --> 00:26:24,720
Speaker 1: PSLF buy back program. If you're like, oh man, I'm

567
00:26:24,720 --> 00:26:28,440
Speaker 1: within shouting distance, I'm so close, and i could get

568
00:26:28,520 --> 00:26:31,480
Speaker 1: rid of it sooner rather than later, and I've got

569
00:26:31,520 --> 00:26:33,160
Speaker 1: the cash on hand than boom, I don't know, it's

570
00:26:33,160 --> 00:26:34,880
Speaker 1: at least worth kind of running the numbers and thinking

571
00:26:34,880 --> 00:26:36,040
Speaker 1: through it. That's right, Joel.

572
00:26:36,080 --> 00:26:38,800
Speaker 2: Let's hear from a listener who is using a retirement

573
00:26:38,880 --> 00:26:42,680
Speaker 2: accounts that is even sweeter than the roth IRA. Let's

574
00:26:42,680 --> 00:26:44,960
Speaker 2: here from Abbie, Hi, Matt, and Joel.

575
00:26:45,040 --> 00:26:47,960
Speaker 5: This is Abby from Iowa. I have a quick question

576
00:26:48,040 --> 00:26:51,800
Speaker 5: regarding HSA money distributions. My husband and I are in

577
00:26:51,840 --> 00:26:56,360
Speaker 5: our late thirties with two children and working to currently

578
00:26:56,400 --> 00:26:59,359
Speaker 5: grow our HSA funds and saving our receipts to make

579
00:26:59,400 --> 00:27:02,080
Speaker 5: the most of this count in our retirement years. My

580
00:27:02,200 --> 00:27:06,399
Speaker 5: question has to do with receipts regarding our children's medical expenses.

581
00:27:06,720 --> 00:27:08,800
Speaker 5: At the moment, when they're dependents, we can use their

582
00:27:08,840 --> 00:27:11,600
Speaker 5: expenses to be reimbursed, but will this still be the

583
00:27:11,640 --> 00:27:14,760
Speaker 5: case once they're over twenty six and off our insurance plans.

584
00:27:15,160 --> 00:27:17,880
Speaker 5: For example, my eight year old is about to get braces.

585
00:27:18,160 --> 00:27:21,040
Speaker 5: Will we be able to use this receipt twenty years

586
00:27:21,040 --> 00:27:23,679
Speaker 5: down the road when she's no longer a dependent or

587
00:27:23,720 --> 00:27:26,119
Speaker 5: will it only be my husband and I's expenses that

588
00:27:26,160 --> 00:27:29,320
Speaker 5: we can get reimbursed for. Thanks for any information you

589
00:27:29,320 --> 00:27:30,560
Speaker 5: can give us, and go.

590
00:27:30,600 --> 00:27:34,200
Speaker 2: Hawks, Matt. Do you also root for the Hawks? That

591
00:27:34,720 --> 00:27:36,760
Speaker 2: is that a sports team? I think so. I think

592
00:27:36,760 --> 00:27:40,320
Speaker 2: it's a sports ball reference the Atlanta Hawks. She's in Iowa.

593
00:27:40,600 --> 00:27:43,159
Speaker 2: Why is she reading for the Hawks? Is that the Hawkeyes?

594
00:27:43,520 --> 00:27:43,960
Speaker 2: Is that?

595
00:27:44,359 --> 00:27:46,320
Speaker 1: Maybe this the Iowah Hawk eyes and maybe they call

596
00:27:46,400 --> 00:27:47,119
Speaker 1: them Hawks for short.

597
00:27:47,440 --> 00:27:48,920
Speaker 2: Oh, I'm sure that that makes more sense.

598
00:27:48,920 --> 00:27:51,000
Speaker 1: I know the mascots for most of these teams because the.

599
00:27:51,000 --> 00:27:52,560
Speaker 2: Picture of the logo, it's got the circle with the

600
00:27:52,960 --> 00:27:56,240
Speaker 2: Hawks outline. Classic I used to care about. From a

601
00:27:56,280 --> 00:27:58,479
Speaker 2: graphic design standpoint, I love it. But from an actual

602
00:27:58,520 --> 00:28:00,840
Speaker 2: sports ball standpoint, not quite my thing.

603
00:28:01,080 --> 00:28:03,320
Speaker 1: Man, I feel so out of the loop on sports

604
00:28:03,320 --> 00:28:03,800
Speaker 1: these days.

605
00:28:03,800 --> 00:28:07,080
Speaker 2: But I gosh, I used to like the sport of running.

606
00:28:07,720 --> 00:28:08,600
Speaker 2: That's what you're obsessed with.

607
00:28:08,800 --> 00:28:11,560
Speaker 1: Yeah, that's like a solo pursuiting most part, though, h

608
00:28:11,800 --> 00:28:14,560
Speaker 1: It used to be like gathering with friends to watch.

609
00:28:14,760 --> 00:28:17,479
Speaker 2: You run with more friends than anybody I've ever heard of.

610
00:28:17,800 --> 00:28:20,720
Speaker 2: That's true. I have a lot of running buddies, which

611
00:28:20,920 --> 00:28:23,000
Speaker 2: I think when a start. Yeah, no, we'll talk about this.

612
00:28:23,240 --> 00:28:27,440
Speaker 1: Okay, enough of the sports talk, but let's let's let's

613
00:28:27,440 --> 00:28:30,800
Speaker 1: talk about hsas. Matt I recently spoke with had a

614
00:28:30,840 --> 00:28:34,280
Speaker 1: money listener who is retired, and he's so thrilled that

615
00:28:34,320 --> 00:28:37,480
Speaker 1: he built up such a big HSA balance and he's

616
00:28:37,600 --> 00:28:41,880
Speaker 1: he's like over over he was glowing about the flexibility

617
00:28:41,880 --> 00:28:44,400
Speaker 1: that the account affords him, like the ability to tap

618
00:28:44,440 --> 00:28:47,520
Speaker 1: it without paying a dime of tax based on healthcare

619
00:28:47,560 --> 00:28:50,320
Speaker 1: costs and he accrued decades before. He was just like

620
00:28:50,880 --> 00:28:53,800
Speaker 1: over the moon with how incredible the HSA is. And

621
00:28:53,800 --> 00:28:56,920
Speaker 1: and this sounds like the boat Abby's gonna find herself

622
00:28:56,920 --> 00:28:59,080
Speaker 1: in if she continues down this path. We got to

623
00:28:59,080 --> 00:29:01,160
Speaker 1: address our question, We got get some of the nitty gritties.

624
00:29:01,520 --> 00:29:04,200
Speaker 1: But that's what makes the HSA. You're glad to hear

625
00:29:04,200 --> 00:29:05,720
Speaker 1: that she's doing it. Yeah, And it's just fun to

626
00:29:05,720 --> 00:29:08,880
Speaker 1: hear from somebody who's thirty years down the road and

627
00:29:09,040 --> 00:29:10,720
Speaker 1: is like, oh, yeah, it's all, it's all.

628
00:29:10,760 --> 00:29:12,720
Speaker 2: It's cracked up to be uh huh, yeah, totally. Okay,

629
00:29:12,760 --> 00:29:15,640
Speaker 2: let's talk about like the general mechanics of the health

630
00:29:15,880 --> 00:29:19,800
Speaker 2: savings account, because contrary to its name, the savings part,

631
00:29:19,880 --> 00:29:23,600
Speaker 2: it's actually more of an investing account. But we believe

632
00:29:23,640 --> 00:29:25,800
Speaker 2: that they are by far the stealthiest way to save

633
00:29:25,880 --> 00:29:30,200
Speaker 2: for retirement because of the tax advantages that you accrue.

634
00:29:30,720 --> 00:29:34,120
Speaker 2: They're not just tax advantage. You can literally like avoid

635
00:29:34,400 --> 00:29:38,240
Speaker 2: taxes completely for the money that you put into an HSA.

636
00:29:38,800 --> 00:29:40,600
Speaker 2: And then of course, in addition to that, not only

637
00:29:40,680 --> 00:29:42,760
Speaker 2: are you just stashing those dollars away, but you are

638
00:29:42,760 --> 00:29:45,240
Speaker 2: investing those dollars. This is how this is a retirement account.

639
00:29:46,040 --> 00:29:52,200
Speaker 2: You are not interrupting the compounding unnecessarily a la Charlie Munger, Right,

640
00:29:52,240 --> 00:29:55,120
Speaker 2: there's HSA dollars get to they get to live to

641
00:29:55,360 --> 00:29:58,480
Speaker 2: grow another day. And what you're doing is you're paying

642
00:29:58,480 --> 00:30:01,920
Speaker 2: for your medical expenses out of pocket in order to

643
00:30:02,120 --> 00:30:03,719
Speaker 2: keep those HSA dollars untouched.

644
00:30:03,760 --> 00:30:05,960
Speaker 1: And it's a really cool account if you used it

645
00:30:06,200 --> 00:30:09,720
Speaker 1: like a health savings account like as prescribed, right, it's

646
00:30:10,000 --> 00:30:13,040
Speaker 1: cool just in the sense that you can avoid a

647
00:30:13,040 --> 00:30:17,240
Speaker 1: bunch of taxation, but it's super duper extra cool if

648
00:30:17,440 --> 00:30:20,960
Speaker 1: you invest and you're like growing a stockpile of money

649
00:30:21,400 --> 00:30:25,080
Speaker 1: that never gets taxed, right, that completely avoids the taxman.

650
00:30:25,520 --> 00:30:30,600
Speaker 1: That's what makes it like on steroids, superpower, supercharged. So

651
00:30:30,680 --> 00:30:34,000
Speaker 1: let's talk about the specifics and the specifics of Abbey's question.

652
00:30:34,200 --> 00:30:37,400
Speaker 1: Will your HSA still benefit you in the same way

653
00:30:37,800 --> 00:30:39,680
Speaker 1: once your kids grow up? That's kind of the heart

654
00:30:39,720 --> 00:30:43,120
Speaker 1: of your question, And the answer is yes. The key,

655
00:30:43,320 --> 00:30:46,360
Speaker 1: the clutch thing to know is essentially this that you're

656
00:30:46,640 --> 00:30:50,840
Speaker 1: the HSA eligibility is determined at the time the medical

657
00:30:50,920 --> 00:30:55,400
Speaker 1: expense is incurred, not when you reimburse yourself. So doesn't

658
00:30:55,800 --> 00:30:59,200
Speaker 1: really matter like what's going on with your family life,

659
00:30:59,280 --> 00:31:01,440
Speaker 1: how old you are, how far down the road. Let's

660
00:31:01,480 --> 00:31:05,560
Speaker 1: say your kid is on your health insurance policy right now, right,

661
00:31:05,800 --> 00:31:08,960
Speaker 1: and the expense occurs in twenty twenty six, you can

662
00:31:09,000 --> 00:31:13,080
Speaker 1: still tap your HSA thirty years later in twenty fifty six,

663
00:31:13,480 --> 00:31:16,640
Speaker 1: after it's grown a ton, right, And even if your

664
00:31:16,720 --> 00:31:19,720
Speaker 1: child then who is going to be a full grown adult,

665
00:31:20,040 --> 00:31:21,160
Speaker 1: is not on your policy.

666
00:31:21,200 --> 00:31:21,760
Speaker 2: So we're talking.

667
00:31:22,040 --> 00:31:24,400
Speaker 1: I think she said her daughter was her child was

668
00:31:24,400 --> 00:31:27,120
Speaker 1: eight years old, and so she to get braces, daughter

669
00:31:27,120 --> 00:31:29,280
Speaker 1: would be thirty eight years old brace is long gone,

670
00:31:29,360 --> 00:31:30,840
Speaker 1: super straight teeth hopefully.

671
00:31:31,440 --> 00:31:32,600
Speaker 2: Yeah, where your retainer?

672
00:31:33,600 --> 00:31:35,280
Speaker 1: Yeah, I know there's gonna be allowing to go back

673
00:31:35,280 --> 00:31:38,600
Speaker 1: and do braces as an adult again, to rectify from

674
00:31:38,600 --> 00:31:40,360
Speaker 1: not where I would wear my retainer every night.

675
00:31:40,360 --> 00:31:42,280
Speaker 2: Match just for that reason. Do you really? Yeah? Oh,

676
00:31:42,360 --> 00:31:44,680
Speaker 2: good for you every night. I don't. We don't do

677
00:31:44,720 --> 00:31:47,600
Speaker 2: any sleepovers, although no, I knew that, Like, well, we've

678
00:31:47,600 --> 00:31:50,280
Speaker 2: traveled together and yeah, it's just been a minute. I

679
00:31:50,360 --> 00:31:52,480
Speaker 2: keep it around. I'm not taking too many mental notes

680
00:31:52,520 --> 00:31:55,520
Speaker 2: of your your retainer container, my hygie, what do you

681
00:31:55,520 --> 00:31:58,920
Speaker 2: call it? Do you call it a retainer container? Retainer box?

682
00:31:59,080 --> 00:32:01,280
Speaker 2: I guess yeah, never thought about it, like me and neither.

683
00:32:01,560 --> 00:32:06,800
Speaker 1: But really, this it's all about what was going on

684
00:32:06,920 --> 00:32:09,160
Speaker 1: when the expense was initially incurred.

685
00:32:09,280 --> 00:32:09,640
Speaker 2: Initially.

686
00:32:09,760 --> 00:32:14,480
Speaker 1: Yeah, it doesn't matter that your child is no longer

687
00:32:14,520 --> 00:32:17,080
Speaker 1: on your insurance policy, or that it's many decades later. Yeah,

688
00:32:17,080 --> 00:32:19,400
Speaker 1: it's not expected that she or any or either of

689
00:32:19,440 --> 00:32:21,640
Speaker 1: your kids will be on your insurance. Like like literally,

690
00:32:21,680 --> 00:32:24,080
Speaker 1: you could envision the future where you aren't even on

691
00:32:24,160 --> 00:32:27,640
Speaker 1: a high deductible healthcare plan, where you even have access

692
00:32:27,680 --> 00:32:30,360
Speaker 1: to an HSA, right, and so would then the expenses

693
00:32:30,360 --> 00:32:32,200
Speaker 1: that you incurred back when you did.

694
00:32:32,280 --> 00:32:36,200
Speaker 2: Would those qualify absolutely one percent? Yes, for sure.

695
00:32:36,280 --> 00:32:36,440
Speaker 4: Yeah.

696
00:32:36,480 --> 00:32:38,480
Speaker 1: You could be in a different employer, a completely different

697
00:32:38,480 --> 00:32:42,280
Speaker 1: insurance company, and or beginning your own policy on the

698
00:32:42,720 --> 00:32:45,680
Speaker 1: open market or something like that, and you'd still it

699
00:32:45,680 --> 00:32:47,680
Speaker 1: wouldn't do anything about your past expenses.

700
00:32:47,720 --> 00:32:49,080
Speaker 2: This week will be you could be on the single

701
00:32:49,120 --> 00:32:50,840
Speaker 2: pair of government plan that we're all set to beyond.

702
00:32:50,840 --> 00:32:54,120
Speaker 2: At the rate that we're going, we're whatever. Yeah, like yeah,

703
00:32:54,240 --> 00:32:56,760
Speaker 2: regardless of what the future holds, it doesn't matter because

704
00:32:56,760 --> 00:32:58,840
Speaker 2: it's we're talking about what happened here in the past.

705
00:33:00,160 --> 00:33:02,960
Speaker 2: Never be revoked. It's not going to be deemed ineligible.

706
00:33:02,960 --> 00:33:04,840
Speaker 2: But of course you're going to want to keep the

707
00:33:04,880 --> 00:33:09,040
Speaker 2: receipts in order to prove eligibility. This is, of course,

708
00:33:09,240 --> 00:33:11,880
Speaker 2: because if you were to get audited by the IRS

709
00:33:12,000 --> 00:33:14,600
Speaker 2: down the road, you're gonna want to have a trail

710
00:33:14,640 --> 00:33:16,920
Speaker 2: of receipts. You're gonna want to have tax returns to

711
00:33:17,000 --> 00:33:19,200
Speaker 2: show first of all that your daughter was you're dependent

712
00:33:20,080 --> 00:33:22,920
Speaker 2: when the braces were put on, but also just to

713
00:33:22,960 --> 00:33:26,480
Speaker 2: show improve the exact amounts of the expenses that you incurred.

714
00:33:26,680 --> 00:33:29,400
Speaker 2: And I'm not talking about say like you don't have

715
00:33:29,440 --> 00:33:31,239
Speaker 2: to keep up with the literal receipts. But even just

716
00:33:31,280 --> 00:33:33,840
Speaker 2: like digital receipts or even snaping a photo of it,

717
00:33:34,080 --> 00:33:36,960
Speaker 2: I cannot imagine the future where you're gonna where you

718
00:33:36,960 --> 00:33:40,520
Speaker 2: would need to be able to literally show physical receipts

719
00:33:41,040 --> 00:33:44,120
Speaker 2: as opposed to just having be organized about it, like

720
00:33:44,240 --> 00:33:47,920
Speaker 2: have your Google Drive HSA receipt folder. And normally I

721
00:33:47,920 --> 00:33:50,600
Speaker 2: would also say to keep a little spreadsheet or you've

722
00:33:50,640 --> 00:33:52,760
Speaker 2: got the date, you know, in order to stay organized.

723
00:33:52,800 --> 00:33:55,280
Speaker 2: You've got the date, You've got a little description of

724
00:33:55,360 --> 00:33:58,240
Speaker 2: the medical procedure or the product or the medicine or whatever,

725
00:33:58,600 --> 00:33:59,960
Speaker 2: as well as the price. That way you have a

726
00:34:00,080 --> 00:34:02,800
Speaker 2: running total and so you know, oh, this is how

727
00:34:02,880 --> 00:34:07,719
Speaker 2: much I can completely tax free take out of my HSA. Yeah.

728
00:34:07,800 --> 00:34:10,759
Speaker 2: I feel differently about that nogel, you know why, Because

729
00:34:10,840 --> 00:34:13,960
Speaker 2: of AI. This seems like such a perfect job to

730
00:34:14,000 --> 00:34:15,680
Speaker 2: be able to upload a bunch of receipts and say, hey,

731
00:34:15,840 --> 00:34:18,239
Speaker 2: keep trying this for me, yes, or just like you

732
00:34:18,239 --> 00:34:20,279
Speaker 2: can do it once a year and just be like, hey,

733
00:34:20,800 --> 00:34:23,440
Speaker 2: give me a total amount, give me data columns of

734
00:34:23,880 --> 00:34:29,200
Speaker 2: you know, date description where it was incurred, a total amount.

735
00:34:29,280 --> 00:34:31,960
Speaker 2: Give me some also export that create that as a

736
00:34:31,960 --> 00:34:33,560
Speaker 2: Google sheet unless the AI.

737
00:34:33,400 --> 00:34:35,919
Speaker 1: Starts to blackmail you with your own health records, which

738
00:34:36,000 --> 00:34:37,160
Speaker 1: is you never now man.

739
00:34:37,040 --> 00:34:39,239
Speaker 2: This just saying this is a good use case for

740
00:34:39,760 --> 00:34:41,400
Speaker 2: a large language model to be able to take care

741
00:34:41,440 --> 00:34:41,759
Speaker 2: of that for you.

742
00:34:41,800 --> 00:34:43,680
Speaker 1: True, But I think what you're getting at too is

743
00:34:43,680 --> 00:34:45,800
Speaker 1: really important. Not only are you keeping those receipts to

744
00:34:45,920 --> 00:34:48,880
Speaker 1: prove to the IRS in the case it's necessary, but

745
00:34:48,960 --> 00:34:52,000
Speaker 1: you're also documenting all that stuff. So basically it's a

746
00:34:52,000 --> 00:34:56,080
Speaker 1: good good idea to keep track of the eligible healthcare

747
00:34:56,120 --> 00:34:59,680
Speaker 1: procedures you've gone through so that you have a decent

748
00:34:59,760 --> 00:35:03,200
Speaker 1: unders of how much money you have access to tax

749
00:35:03,239 --> 00:35:06,640
Speaker 1: free without you know, violating the essence of the HSA.

750
00:35:06,840 --> 00:35:09,120
Speaker 2: That's right. It also makes sense too from like, if

751
00:35:09,320 --> 00:35:11,399
Speaker 2: I could picture a scenario where like five ten years

752
00:35:11,440 --> 00:35:14,399
Speaker 2: in the future, if you are trying to decide, oh,

753
00:35:14,480 --> 00:35:16,359
Speaker 2: do I put more money into my HSA that I'm

754
00:35:16,360 --> 00:35:18,920
Speaker 2: still eligible for that I still have or should I

755
00:35:18,920 --> 00:35:22,040
Speaker 2: contribute more over here, and if you're looking at some

756
00:35:22,080 --> 00:35:25,400
Speaker 2: of your medical expenses and you're and you're incredibly healthy,

757
00:35:25,440 --> 00:35:28,719
Speaker 2: and actually the teeth never needed braces to begin with,

758
00:35:29,800 --> 00:35:32,279
Speaker 2: And if I could see a scenario where let's say

759
00:35:32,320 --> 00:35:36,080
Speaker 2: you've got forty thousand dollars thirty forty thousand dollars in there,

760
00:35:36,080 --> 00:35:39,920
Speaker 2: and you've only occurred like seven thousand and medical expenses.

761
00:35:39,920 --> 00:35:42,759
Speaker 2: I could see a scenario maybe where I would even

762
00:35:42,840 --> 00:35:44,399
Speaker 2: kind of back off a little bit if I had

763
00:35:44,400 --> 00:35:46,359
Speaker 2: some other financial goals. Right, it's just to be able

764
00:35:46,400 --> 00:35:48,400
Speaker 2: to provide that data set for you so that you

765
00:35:48,400 --> 00:35:50,960
Speaker 2: can make the most informed decision off in the future

766
00:35:51,320 --> 00:35:53,480
Speaker 2: without getting a little too far over your skis.

767
00:35:53,560 --> 00:35:55,560
Speaker 1: Yeah, but if you don't have enough medical expenses, right,

768
00:35:55,560 --> 00:35:58,680
Speaker 1: that HSA down the road can turn into a glorified IRA.

769
00:35:59,239 --> 00:36:01,759
Speaker 1: And so yeah, look into no how.

770
00:36:01,680 --> 00:36:04,680
Speaker 2: That tax advantaged. But you just have to pay one

771
00:36:04,680 --> 00:36:06,200
Speaker 2: set of taxes, that's right, instead of four.

772
00:36:06,280 --> 00:36:08,760
Speaker 1: I think in some ways this helps make the friction

773
00:36:08,960 --> 00:36:11,880
Speaker 1: and the cost of braces feel a little less onerousy,

774
00:36:12,000 --> 00:36:15,040
Speaker 1: even though it's still it's so expensive. And I realized

775
00:36:15,080 --> 00:36:16,960
Speaker 1: I've got two kids kind of on that and in

776
00:36:17,080 --> 00:36:19,200
Speaker 1: the orthodontria plan right now, what about the third you

777
00:36:19,200 --> 00:36:21,320
Speaker 1: think he's going to begin in, No, he's totally gonna do.

778
00:36:21,880 --> 00:36:24,160
Speaker 1: He's just like he's only got like maybe three or

779
00:36:24,160 --> 00:36:26,959
Speaker 1: four big kid teeth right now. But the two front

780
00:36:26,960 --> 00:36:29,960
Speaker 1: ones they are. I can already tell he's gonna need

781
00:36:30,000 --> 00:36:30,480
Speaker 1: it at some point.

782
00:36:30,560 --> 00:36:32,960
Speaker 2: So yeah, it's expensive. Oh man, it makes me think

783
00:36:32,960 --> 00:36:34,440
Speaker 2: of it. So our school every year we do an

784
00:36:34,440 --> 00:36:38,160
Speaker 2: auction and items get donated. It's like a fundraiser or whatever.

785
00:36:38,520 --> 00:36:43,040
Speaker 2: And I saw that local Orthodoge Orthodonist office donated like

786
00:36:43,080 --> 00:36:47,040
Speaker 2: a five thousand dollars package, which that's like one kid

787
00:36:47,080 --> 00:36:49,600
Speaker 2: to get in through braces. Oh is it? Oh yeah?

788
00:36:49,719 --> 00:36:51,719
Speaker 2: Is that like one year? No, I mean that's like

789
00:36:51,840 --> 00:36:54,000
Speaker 2: or that's like a whole that's like a few years

790
00:36:54,000 --> 00:36:56,440
Speaker 2: worth of fixing some teeth. We basically prepaid. Yeah.

791
00:36:56,520 --> 00:36:58,880
Speaker 1: Yeah, there was like a deal to say, yeah, all right,

792
00:36:58,880 --> 00:37:00,920
Speaker 1: we're gonna pay for the treed in the next few

793
00:37:01,000 --> 00:37:02,920
Speaker 1: years for this kid in one fell swoop.

794
00:37:03,320 --> 00:37:05,319
Speaker 2: And it's just you're just saying, I'll put that on your

795
00:37:05,360 --> 00:37:07,080
Speaker 2: radar because if you can get in there, nobody. You

796
00:37:07,080 --> 00:37:09,359
Speaker 2: know what if you bid like three four hundred bucks

797
00:37:09,400 --> 00:37:12,319
Speaker 2: on it, snag a five thousand dollars package, that's like

798
00:37:12,360 --> 00:37:14,360
Speaker 2: a heavy sweet that's a reduced that's the kind of

799
00:37:14,360 --> 00:37:16,360
Speaker 2: gift card that you're all about, right where you're getting

800
00:37:17,360 --> 00:37:20,319
Speaker 2: four thousand dollars worth of food for four hundred dollars.

801
00:37:20,400 --> 00:37:23,319
Speaker 1: That's my chan, that's my chant. All right, we got

802
00:37:23,360 --> 00:37:25,160
Speaker 1: more of your money questions to get to, including we're

803
00:37:25,200 --> 00:37:27,520
Speaker 1: gonna talk about financial infidelity, to delve into that and

804
00:37:27,560 --> 00:37:28,360
Speaker 1: more right after this.

805
00:37:36,120 --> 00:37:38,160
Speaker 2: All right, buddy, we are back from the break. It

806
00:37:38,239 --> 00:37:40,399
Speaker 2: is now time for the Facebook question of the week,

807
00:37:40,440 --> 00:37:44,000
Speaker 2: which is from Tara. She writes, Hello, I like that.

808
00:37:44,200 --> 00:37:46,839
Speaker 2: I like that She started with Hello, my husband and

809
00:37:46,880 --> 00:37:49,799
Speaker 2: I are expecting our first baby in June. I'd love

810
00:37:49,880 --> 00:37:52,440
Speaker 2: to hear your financial tips for a growing family. We

811
00:37:52,480 --> 00:37:55,200
Speaker 2: are in money gear seven and have started a savings

812
00:37:55,239 --> 00:37:59,160
Speaker 2: bucket for hospital bills. Holy caw. I love that. On

813
00:37:59,239 --> 00:38:01,919
Speaker 2: top of it already, yeah, I mean, aside from money

814
00:38:01,960 --> 00:38:05,279
Speaker 2: gear seven, I guess let's talk about we're in a role.

815
00:38:05,400 --> 00:38:08,240
Speaker 2: We're talking a lot about medical stuff, hospital bills and whatnot.

816
00:38:08,280 --> 00:38:11,000
Speaker 2: But I love that you are already saving ahead for this, Tara.

817
00:38:12,160 --> 00:38:15,960
Speaker 2: How big of a savings bucket or a sinking phone

818
00:38:15,960 --> 00:38:18,400
Speaker 2: you're gonna need is going to depend on your insurance,

819
00:38:18,440 --> 00:38:20,279
Speaker 2: of course, but if you can figure out the likely

820
00:38:20,600 --> 00:38:23,520
Speaker 2: bill amounts ahead of time via a good faith estimate,

821
00:38:23,560 --> 00:38:26,160
Speaker 2: you can start to aim to have that amount on hand.

822
00:38:26,680 --> 00:38:28,560
Speaker 2: I'm guessing for a lot of folks it's probably around

823
00:38:28,640 --> 00:38:29,440
Speaker 2: three grand.

824
00:38:29,320 --> 00:38:32,120
Speaker 1: Through solid assure. Yeah, so much depends on your insurance company.

825
00:38:32,160 --> 00:38:36,000
Speaker 2: But be ready to fight individual items on that bill

826
00:38:36,160 --> 00:38:38,920
Speaker 2: if they're excessive, sort of like we've already discussed, and

827
00:38:39,120 --> 00:38:42,480
Speaker 2: depending on your income, you might qualify for partial or

828
00:38:42,719 --> 00:38:46,160
Speaker 2: full forgiveness of that final bill. I kind of think

829
00:38:46,200 --> 00:38:48,359
Speaker 2: maybe that's not the case. So considering the fact that

830
00:38:48,400 --> 00:38:50,879
Speaker 2: she is in money Gear number seven, which is such

831
00:38:50,920 --> 00:38:53,520
Speaker 2: an advanced kind of place to be, I feel like

832
00:38:53,560 --> 00:38:57,359
Speaker 2: when you're having your normally it's like first kid. Also, uh,

833
00:38:57,640 --> 00:38:59,680
Speaker 2: we need new tires on the car, or you know,

834
00:38:59,840 --> 00:39:02,680
Speaker 2: the big sister has got orthodogical, you know, like all

835
00:39:02,719 --> 00:39:05,440
Speaker 2: the things are hitting you when you're having a baby.

836
00:39:05,480 --> 00:39:07,520
Speaker 2: But I love that they are in a position to

837
00:39:07,520 --> 00:39:10,239
Speaker 2: where these aren't some of the stresses that they're experiencing.

838
00:39:10,280 --> 00:39:12,279
Speaker 1: The one reason that makes me think there's at least

839
00:39:12,280 --> 00:39:15,239
Speaker 1: a chance that they qualify it for financial assistance is

840
00:39:15,280 --> 00:39:17,560
Speaker 1: because it's based on income. It's not based on networth.

841
00:39:17,880 --> 00:39:20,400
Speaker 1: So who knows. I guess she could say somebody.

842
00:39:20,120 --> 00:39:24,080
Speaker 2: Started being diligence, Yeah at age sixteen, built out that

843
00:39:24,080 --> 00:39:27,200
Speaker 2: massive net Yeah, massive net worth, and isn't making its

844
00:39:27,239 --> 00:39:28,399
Speaker 2: unknown there's a chance yep.

845
00:39:28,719 --> 00:39:30,759
Speaker 1: So I think another thing to put on your radar

846
00:39:30,920 --> 00:39:33,719
Speaker 1: is five twenty nine plan. It's it's not something we're

847
00:39:33,719 --> 00:39:37,360
Speaker 1: typically recommending to new parents, but or at least beyond

848
00:39:37,600 --> 00:39:39,880
Speaker 1: just a starter amount to get the clock ticking on

849
00:39:39,920 --> 00:39:42,880
Speaker 1: those accounts. But you've already taken care of your own savings,

850
00:39:42,960 --> 00:39:46,120
Speaker 1: right You're investing incredibly well. Not sure what state you

851
00:39:46,160 --> 00:39:48,040
Speaker 1: live in, but there's a good chance you can reduce

852
00:39:48,080 --> 00:39:51,360
Speaker 1: your state tax bill while also investing for your baby's future.

853
00:39:51,440 --> 00:39:54,839
Speaker 1: So that could be like a win win thing right there.

854
00:39:54,880 --> 00:39:58,160
Speaker 1: And so whether that five twenty nine money is intended

855
00:39:58,160 --> 00:40:01,880
Speaker 1: for private school, whether it's college, whether it's for you know,

856
00:40:02,239 --> 00:40:05,759
Speaker 1: a roth Ira starter for your baby down the road

857
00:40:05,800 --> 00:40:08,000
Speaker 1: as well, which is one of the cool things right

858
00:40:08,120 --> 00:40:10,279
Speaker 1: about five twenty nine plans these days. So you can

859
00:40:10,360 --> 00:40:12,160
Speaker 1: turn money that you stick into that that's not needed

860
00:40:12,160 --> 00:40:15,759
Speaker 1: for college into roth Ira dollars later on. Getting some

861
00:40:15,840 --> 00:40:18,600
Speaker 1: money flowing in that direction I think right now is

862
00:40:18,920 --> 00:40:20,560
Speaker 1: something we strongly consider totally.

863
00:40:20,719 --> 00:40:23,520
Speaker 2: Yeah, and then beyond like specific accounts, man, I would

864
00:40:23,560 --> 00:40:26,719
Speaker 2: give yourself permission to spend as much time with that

865
00:40:26,840 --> 00:40:30,360
Speaker 2: baby as you want, like when you are in a

866
00:40:30,400 --> 00:40:33,719
Speaker 2: personal finance group chat or a Facebook group and ask

867
00:40:33,760 --> 00:40:35,319
Speaker 2: another folks, there's going to be a whole lot of

868
00:40:35,360 --> 00:40:38,200
Speaker 2: chatter about, yeah, this account and obviously that's where your

869
00:40:38,239 --> 00:40:40,759
Speaker 2: mind's at, and obviously it's paid off well. Like, look

870
00:40:40,800 --> 00:40:42,520
Speaker 2: at the fact that you're in money gear seven and

871
00:40:42,560 --> 00:40:46,040
Speaker 2: you're having your first kid. But the ability and I

872
00:40:46,040 --> 00:40:47,759
Speaker 2: don't know, you probably heard people say this toil, but

873
00:40:47,800 --> 00:40:53,000
Speaker 2: it's your presence, not presents like toys and stuff and

874
00:40:53,120 --> 00:40:57,719
Speaker 2: all the material wealth, the ability for you to provide

875
00:40:58,160 --> 00:41:01,839
Speaker 2: just so many memories being there for your kid and

876
00:41:01,960 --> 00:41:04,560
Speaker 2: just like fun stuff that you do together as a like,

877
00:41:04,600 --> 00:41:07,000
Speaker 2: it's amazing experiences that you can be a part of.

878
00:41:07,040 --> 00:41:10,040
Speaker 2: But then also just some of the routine day to

879
00:41:10,120 --> 00:41:14,560
Speaker 2: day living where you are incredibly present and interacting in

880
00:41:14,560 --> 00:41:18,719
Speaker 2: a just life giving, very rich way. Man, I think

881
00:41:18,719 --> 00:41:21,319
Speaker 2: that's amazing, right, because as your kid gets older, they can,

882
00:41:21,600 --> 00:41:23,680
Speaker 2: like money is fungible, they can get their own money.

883
00:41:23,880 --> 00:41:25,720
Speaker 2: At some point they will be making their own money.

884
00:41:26,120 --> 00:41:27,960
Speaker 2: But as far as memory is really not for like

885
00:41:28,080 --> 00:41:31,080
Speaker 2: you know, a while, that's a while, but like it's

886
00:41:31,120 --> 00:41:34,279
Speaker 2: something that they can always create more of. Whereas the

887
00:41:34,360 --> 00:41:36,640
Speaker 2: time that they're going to be able to spend with

888
00:41:36,680 --> 00:41:39,560
Speaker 2: you the memories that involve you in a significant way.

889
00:41:40,040 --> 00:41:42,359
Speaker 2: That is a very limited resource. It's something I think

890
00:41:42,360 --> 00:41:44,640
Speaker 2: about more as I get older, too, where I'm just like, yeah, yeah,

891
00:41:44,680 --> 00:41:47,440
Speaker 2: it's I care less about my kid's financial future as

892
00:41:47,440 --> 00:41:51,160
Speaker 2: opposed to how I'm raising them and the lessons I'm

893
00:41:51,160 --> 00:41:54,480
Speaker 2: imparting upon them and kind of the memories that you know,

894
00:41:54,719 --> 00:41:57,920
Speaker 2: we're trying to basically instill in them. Yeah, those lessons.

895
00:41:57,960 --> 00:41:59,960
Speaker 1: What you're saying essentially is like you're in money yourself

896
00:42:00,080 --> 00:42:02,759
Speaker 1: and act like it, like take advantage of some of

897
00:42:02,760 --> 00:42:06,840
Speaker 1: the freedom and independence that you have earned over a

898
00:42:06,880 --> 00:42:08,800
Speaker 1: long period of doing the right stuff. And I think

899
00:42:09,080 --> 00:42:10,920
Speaker 1: I think that's spot on. I think it's really easy

900
00:42:11,000 --> 00:42:13,480
Speaker 1: to think I gotta do more. I can keep doing more, Okay,

901
00:42:13,480 --> 00:42:15,160
Speaker 1: I got to keep I gotta work more. So I can,

902
00:42:15,440 --> 00:42:17,279
Speaker 1: you know, max out the five twenty nine fund, because

903
00:42:17,280 --> 00:42:19,879
Speaker 1: that's the next thing Matt and Joel said, and yeah,

904
00:42:19,920 --> 00:42:21,840
Speaker 1: we mentioned that, right, but we also want to balance

905
00:42:21,880 --> 00:42:24,080
Speaker 1: it out here and say, you're in money gear seven,

906
00:42:24,120 --> 00:42:27,640
Speaker 1: you have a lot of optionality, don't don't waste that.

907
00:42:27,800 --> 00:42:30,759
Speaker 1: I guess when these are precious times, totally agree, all right.

908
00:42:30,800 --> 00:42:33,400
Speaker 1: Next question, This one comes from anonymous who says, has

909
00:42:33,440 --> 00:42:36,719
Speaker 1: anyone dealt with financial infidelity over the holidays? My wife

910
00:42:36,760 --> 00:42:39,320
Speaker 1: racked up six thousand dollars in credit card debt. It

911
00:42:39,440 --> 00:42:42,200
Speaker 1: was unknown to me until I started pressing more on

912
00:42:42,239 --> 00:42:44,440
Speaker 1: how she was paying for all the packages coming.

913
00:42:44,280 --> 00:42:44,800
Speaker 2: To the house.

914
00:42:45,280 --> 00:42:47,480
Speaker 1: It upsets me more because this is the second or

915
00:42:47,520 --> 00:42:51,680
Speaker 1: third time it's happened since getting married. We're agreeing on

916
00:42:51,719 --> 00:42:54,839
Speaker 1: no more every day credit card usage and only using

917
00:42:54,880 --> 00:42:57,920
Speaker 1: it when both in agreement. To add, she is going

918
00:42:57,920 --> 00:43:02,239
Speaker 1: through therapy and doing EMD are specifically right now, so

919
00:43:02,560 --> 00:43:04,879
Speaker 1: at times she's not in the best headspace. That's kind

920
00:43:04,880 --> 00:43:07,279
Speaker 1: of a type of therapy mat where like you're it's

921
00:43:07,520 --> 00:43:10,480
Speaker 1: attempting to bring up earlier childhood memories that might be

922
00:43:10,640 --> 00:43:15,320
Speaker 1: impressed about that eye movement something. Yeah, yeah, well, I

923
00:43:15,640 --> 00:43:17,920
Speaker 1: swear actually we've the eyeball therapy. We've had a guest

924
00:43:17,960 --> 00:43:19,520
Speaker 1: on who's gone through that as well.

925
00:43:19,600 --> 00:43:20,400
Speaker 2: Oh really was it?

926
00:43:20,520 --> 00:43:23,399
Speaker 1: Ed Combs, who's a therapist who money therapist too, talked

927
00:43:23,400 --> 00:43:26,560
Speaker 1: about that with us. But the end of this question says,

928
00:43:26,560 --> 00:43:28,760
Speaker 1: it's just frustrating to me because we literally just built

929
00:43:28,760 --> 00:43:30,799
Speaker 1: our emergency fund and now we are six thousand dollars

930
00:43:30,840 --> 00:43:32,920
Speaker 1: in credit card debt. The card is only in her name,

931
00:43:32,960 --> 00:43:34,560
Speaker 1: by the way, I don't know what to do. I'm

932
00:43:34,600 --> 00:43:35,879
Speaker 1: tired of paying off debt.

933
00:43:36,160 --> 00:43:39,600
Speaker 2: Man, this is this is awful, Like it totally sucks,

934
00:43:39,640 --> 00:43:41,760
Speaker 2: and I feel like I hear the frustration in this

935
00:43:41,760 --> 00:43:44,759
Speaker 2: this individual's voice hundred percent. Yeah, it's a really tough

936
00:43:45,160 --> 00:43:47,800
Speaker 2: position to be in. And I'm also just a little

937
00:43:48,160 --> 00:43:54,200
Speaker 2: I feel a little unsure to provide advice when man,

938
00:43:54,440 --> 00:43:56,279
Speaker 2: like you're hearing one side of the argument, you know,

939
00:43:56,320 --> 00:43:58,040
Speaker 2: because I'm sure there's a lot of other folks who

940
00:43:58,120 --> 00:44:00,400
Speaker 2: might immediately be like, well, what about this? And have

941
00:44:00,440 --> 00:44:03,319
Speaker 2: you done this? And does she does she have a voice?

942
00:44:03,360 --> 00:44:05,080
Speaker 2: You know, I'm talking about the frustration in his voice,

943
00:44:05,120 --> 00:44:06,839
Speaker 2: like does does she have an ability to say where

944
00:44:06,880 --> 00:44:08,400
Speaker 2: the money is being spent at all? And maybe she

945
00:44:08,440 --> 00:44:10,640
Speaker 2: feels the need to to kind of want to hide

946
00:44:10,640 --> 00:44:13,839
Speaker 2: some of the spending. So I'm not at all discounting

947
00:44:14,320 --> 00:44:18,319
Speaker 2: this poster's feelings and the point of frustration, right like, yeah,

948
00:44:18,320 --> 00:44:21,360
Speaker 2: you just established that emergency fund and then to immediately

949
00:44:21,360 --> 00:44:24,560
Speaker 2: get sort of not reset sound, you know, not reset

950
00:44:24,560 --> 00:44:27,799
Speaker 2: back to zero. But even in the red is a

951
00:44:27,840 --> 00:44:30,200
Speaker 2: difficult spot to be and it is it is. I was.

952
00:44:30,239 --> 00:44:32,920
Speaker 1: I was actually truly impressed with the empathy the advice

953
00:44:32,960 --> 00:44:34,719
Speaker 1: that a lot of how to money listeners offered in

954
00:44:35,040 --> 00:44:37,919
Speaker 1: the Facebook group in answer to this question. I want

955
00:44:37,920 --> 00:44:41,000
Speaker 1: to say, like, addiction is real, too, write we should

956
00:44:41,080 --> 00:44:43,800
Speaker 1: highlight that. And I think we're living in a society

957
00:44:43,920 --> 00:44:46,520
Speaker 1: with a lot more addiction than we ever have lived

958
00:44:46,520 --> 00:44:49,440
Speaker 1: in before. And I don't think that's hyperbobole and I

959
00:44:49,480 --> 00:44:53,120
Speaker 1: don't think that's just me discounting the past. I think

960
00:44:53,120 --> 00:44:56,799
Speaker 1: it's just true and spending money triggers dopamine releases that

961
00:44:56,880 --> 00:44:59,319
Speaker 1: are akin to a lot of other addictions that exist

962
00:44:59,360 --> 00:45:02,520
Speaker 1: in our society, like gambling, pornography, stuff like that. So

963
00:45:02,760 --> 00:45:06,480
Speaker 1: we're just seeing more and more people be succumbing to

964
00:45:06,520 --> 00:45:09,560
Speaker 1: addiction because it's easier than ever. I was talking to

965
00:45:09,640 --> 00:45:11,520
Speaker 1: a friend recently, Matt, and he was like, you know,

966
00:45:11,560 --> 00:45:13,520
Speaker 1: I don't think nearly as many people were addicted to

967
00:45:13,560 --> 00:45:15,640
Speaker 1: pornography back in the day, because guess what, it wasn't

968
00:45:15,640 --> 00:45:18,520
Speaker 1: at your fingertips and free and like, yeah, you know,

969
00:45:19,160 --> 00:45:21,560
Speaker 1: everywhere in front of you. And I was like, you're

970
00:45:21,560 --> 00:45:24,120
Speaker 1: probably right, Like it just was harder to be addicted

971
00:45:24,160 --> 00:45:25,520
Speaker 1: to something like that. Same with gambling.

972
00:45:25,560 --> 00:45:28,880
Speaker 2: You walked into the gas station, you're probably like, like,

973
00:45:29,360 --> 00:45:31,160
Speaker 2: I don't want anyone to see me, like as my

974
00:45:31,239 --> 00:45:33,480
Speaker 2: car kind of tucked her on the back. Where like

975
00:45:33,600 --> 00:45:36,040
Speaker 2: say anything with gambling, right, like going to an actual casino,

976
00:45:36,680 --> 00:45:39,640
Speaker 2: there's something about Yeah, like you said, physically going somewhere

977
00:45:39,680 --> 00:45:42,040
Speaker 2: as opposed to something being in your pocket and at

978
00:45:42,080 --> 00:45:44,400
Speaker 2: your fingertips. Yes, one of the ways. Yeah, that technology

979
00:45:44,880 --> 00:45:47,400
Speaker 2: has not served us as well. But I want to

980
00:45:47,400 --> 00:45:50,799
Speaker 2: discount I guess the addiction reality that she might be

981
00:45:50,880 --> 00:45:53,600
Speaker 2: going through and how she there's like a compulsive behavior

982
00:45:53,640 --> 00:45:55,920
Speaker 2: in all likelihood that she's dealing with. Yeah, So I'm

983
00:45:55,920 --> 00:45:58,320
Speaker 2: gonna I'm going to preface everything I'm about to say

984
00:45:58,719 --> 00:46:00,680
Speaker 2: with the assumption that the wife is on board, right,

985
00:46:00,680 --> 00:46:02,399
Speaker 2: because I was kind of coming at it from like, man,

986
00:46:02,560 --> 00:46:05,640
Speaker 2: we're talking about this couple and the wife isn't present

987
00:46:05,680 --> 00:46:07,960
Speaker 2: to be able to provide more information. But I'm going

988
00:46:08,040 --> 00:46:10,600
Speaker 2: to assume that she's like, yes, I don't want to

989
00:46:10,640 --> 00:46:12,920
Speaker 2: do this anymore. I'm like, this is awful, this is

990
00:46:12,960 --> 00:46:15,920
Speaker 2: harming us financially. Let's work together to make this happen.

991
00:46:15,960 --> 00:46:17,600
Speaker 1: Well, it sounds like they are agreeing on some things

992
00:46:17,640 --> 00:46:19,480
Speaker 1: to her going to therapy, not using the credit card

993
00:46:19,520 --> 00:46:20,360
Speaker 1: in the way it's been used to.

994
00:46:20,440 --> 00:46:22,440
Speaker 2: So yeah, it sounds like you're right. I guess I

995
00:46:22,480 --> 00:46:24,759
Speaker 2: thought that maybe the therapy was for something else as well.

996
00:46:24,920 --> 00:46:27,319
Speaker 2: He didn't say it was specifically for the spending or

997
00:46:27,360 --> 00:46:29,120
Speaker 2: the financial but yeah, let's assume that that is the

998
00:46:29,160 --> 00:46:31,680
Speaker 2: case and she's proactively taking steps and that means she's

999
00:46:31,680 --> 00:46:34,160
Speaker 2: totally on board, which me like in my mind, then

1000
00:46:34,200 --> 00:46:36,680
Speaker 2: it comes more down to like the mechanics, like how

1001
00:46:36,719 --> 00:46:39,840
Speaker 2: do we prevent you, how do we remove this temptation?

1002
00:46:39,960 --> 00:46:43,480
Speaker 2: How do we remove this addiction from you? And he

1003
00:46:43,560 --> 00:46:46,680
Speaker 2: talked about how it's these packages that are just continue

1004
00:46:46,719 --> 00:46:48,680
Speaker 2: to show up on the doorstep like day after day

1005
00:46:48,760 --> 00:46:51,480
Speaker 2: after day, and he's just like, wait a minute, how

1006
00:46:51,520 --> 00:46:53,839
Speaker 2: are you paying for all of this? And I think

1007
00:46:53,840 --> 00:46:58,080
Speaker 2: what that means is removing billing information, so like Amazon,

1008
00:46:58,239 --> 00:47:00,560
Speaker 2: like it's all saved and so they for me to

1009
00:47:00,560 --> 00:47:03,279
Speaker 2: search something and hit click to buy. Oh they like

1010
00:47:03,320 --> 00:47:07,000
Speaker 2: you said, like the technology, they've lubricated the process and

1011
00:47:07,040 --> 00:47:09,680
Speaker 2: there is no friction at all in doing that. But

1012
00:47:09,680 --> 00:47:12,560
Speaker 2: what that also means, I think is removing the saved

1013
00:47:12,560 --> 00:47:16,279
Speaker 2: credit card information on your browser, because the ability to

1014
00:47:16,440 --> 00:47:18,760
Speaker 2: just do the thumb print and all of a sudden,

1015
00:47:18,800 --> 00:47:21,960
Speaker 2: it's like or on your phone double click to pay.

1016
00:47:22,239 --> 00:47:24,839
Speaker 2: That means removing the credit card information from Safari or

1017
00:47:24,920 --> 00:47:27,600
Speaker 2: whatever browser you use on the computer. It means removing

1018
00:47:27,600 --> 00:47:30,800
Speaker 2: credit cards from the phone that way. You're not able

1019
00:47:30,840 --> 00:47:32,600
Speaker 2: to do it that way. And then the step be

1020
00:47:32,800 --> 00:47:34,279
Speaker 2: like there are still ways around it, right, like what

1021
00:47:34,320 --> 00:47:39,000
Speaker 2: if she opensf she opens like another credit card, and

1022
00:47:39,280 --> 00:47:41,840
Speaker 2: if she's willing, I think it also means locking down

1023
00:47:42,120 --> 00:47:47,239
Speaker 2: her credit. It means going into Equifax trans Union experience

1024
00:47:47,320 --> 00:47:50,520
Speaker 2: because if her not locked, I'm sorry, because that's the

1025
00:47:50,520 --> 00:47:52,080
Speaker 2: pay for service. You don't want to lock it. You

1026
00:47:52,080 --> 00:47:54,720
Speaker 2: want to freeze it. Make sure that junk's frozen, because

1027
00:47:54,760 --> 00:47:58,160
Speaker 2: if your credit is frozen, she cannot open, which is

1028
00:47:58,200 --> 00:48:01,080
Speaker 2: further law. It's totally free doesn't take very long at

1029
00:48:01,120 --> 00:48:04,560
Speaker 2: ought to do that, and that prevents her access to

1030
00:48:04,680 --> 00:48:08,440
Speaker 2: new credit as well. And again I prefaced all this

1031
00:48:08,520 --> 00:48:10,319
Speaker 2: with making sure that she's on board, because I think

1032
00:48:11,160 --> 00:48:13,719
Speaker 2: I could see a twisted scenario where it's just like no,

1033
00:48:13,920 --> 00:48:18,319
Speaker 2: man like that is so controlling, that is so like

1034
00:48:18,400 --> 00:48:21,560
Speaker 2: demeaning for you to do that to me, you know,

1035
00:48:21,600 --> 00:48:23,640
Speaker 2: like I could hear her saying, yeah, he doesn't let

1036
00:48:23,680 --> 00:48:26,560
Speaker 2: me do anything, like I can't buy anything, like I

1037
00:48:26,600 --> 00:48:29,680
Speaker 2: have to do everything through him. That's not a good situation.

1038
00:48:29,800 --> 00:48:31,920
Speaker 2: That's if that's the situation you're in, y'all need to

1039
00:48:31,920 --> 00:48:33,920
Speaker 2: go to counseling for sure, not just financial counseling, but

1040
00:48:34,000 --> 00:48:37,440
Speaker 2: like there are deeper there's deeper issues at hand. But

1041
00:48:37,520 --> 00:48:40,640
Speaker 2: if it's more about, oh, what steps do we need

1042
00:48:40,680 --> 00:48:42,359
Speaker 2: to take to make this harder or to make it

1043
00:48:42,400 --> 00:48:45,200
Speaker 2: make possibly like impossible for me to spend I think

1044
00:48:45,200 --> 00:48:48,000
Speaker 2: that that's a way to you know, those are some

1045
00:48:48,040 --> 00:48:50,399
Speaker 2: proactive steps to take, Like it makes me like, let's

1046
00:48:50,760 --> 00:48:54,319
Speaker 2: real quick, let's reverse the roles. Imagine this anonymous poster.

1047
00:48:54,440 --> 00:48:57,240
Speaker 2: What if he always got drunk and then drove somewhere.

1048
00:48:57,600 --> 00:49:00,719
Speaker 2: Like let's say that he's gotten multiple wise and has

1049
00:49:00,719 --> 00:49:04,760
Speaker 2: crashed the car two or three times since you've been married, Dude,

1050
00:49:04,760 --> 00:49:06,880
Speaker 2: what would you do? You would ask your wife to

1051
00:49:06,920 --> 00:49:08,520
Speaker 2: take the keys from you. It's just like, you know what,

1052
00:49:08,560 --> 00:49:12,160
Speaker 2: I can't drive anymore, Like I obviously cannot control myself

1053
00:49:12,200 --> 00:49:14,160
Speaker 2: whatever it is my impulse, But I don't always ride

1054
00:49:14,160 --> 00:49:16,239
Speaker 2: with a friend, always take uber yeah, take an uber

1055
00:49:16,320 --> 00:49:18,160
Speaker 2: ride your butt like there are so many other options.

1056
00:49:18,200 --> 00:49:22,200
Speaker 2: It's not it's riding your bike either. It's probably not

1057
00:49:22,280 --> 00:49:25,239
Speaker 2: gonna do yeah, probably not that. Yeah, it's not in fantalizing.

1058
00:49:25,360 --> 00:49:27,560
Speaker 2: It's just empowering you to make sure that you're taking

1059
00:49:27,560 --> 00:49:28,200
Speaker 2: the proper steps.

1060
00:49:28,320 --> 00:49:30,759
Speaker 1: That's all last thing I think, and it it kind

1061
00:49:30,800 --> 00:49:32,879
Speaker 1: of dovetails with what you're What you're saying right now,

1062
00:49:32,960 --> 00:49:36,560
Speaker 1: I think is to avoid shame in these conversations. It

1063
00:49:36,760 --> 00:49:39,680
Speaker 1: can be so hard because her reckless spending has hurt

1064
00:49:39,719 --> 00:49:42,520
Speaker 1: you emotionally, it's harmed your finances. It sets you back

1065
00:49:42,880 --> 00:49:44,799
Speaker 1: after you've achieved some of the goals that you want

1066
00:49:44,840 --> 00:49:46,800
Speaker 1: and it feels like you got to go after them

1067
00:49:47,040 --> 00:49:49,839
Speaker 1: from square one again. But the more you make her

1068
00:49:49,880 --> 00:49:52,719
Speaker 1: feel ashamed of her past mistakes and and you know

1069
00:49:53,120 --> 00:49:55,319
Speaker 1: things that that I think it's just going to help.

1070
00:49:55,560 --> 00:49:58,560
Speaker 1: The pattern is going to repeat, right, because shame is

1071
00:49:58,760 --> 00:50:02,719
Speaker 1: cyclical in that way. And so yeah, even though it's

1072
00:50:02,840 --> 00:50:04,480
Speaker 1: tough to feel like you're working together and on the

1073
00:50:04,520 --> 00:50:07,040
Speaker 1: same team because it feels like she's working against you,

1074
00:50:07,040 --> 00:50:09,640
Speaker 1: you guys are on the same team. So going to

1075
00:50:09,680 --> 00:50:12,840
Speaker 1: counseling together can be a helpful endeavor. I think for

1076
00:50:12,960 --> 00:50:14,759
Speaker 1: a lot of people in a relationship like this, it

1077
00:50:14,760 --> 00:50:17,319
Speaker 1: can feel like it's a that's her problem, she's got

1078
00:50:17,360 --> 00:50:19,160
Speaker 1: to get over, she's got to make a change for

1079
00:50:19,239 --> 00:50:22,160
Speaker 1: us to be okay. But working through it together with

1080
00:50:22,280 --> 00:50:24,520
Speaker 1: the help of a third party could save your marriage,

1081
00:50:24,600 --> 00:50:27,880
Speaker 1: and it could save your finances. So financial therapists exists,

1082
00:50:27,880 --> 00:50:29,920
Speaker 1: We've had them on the show before. They might be

1083
00:50:30,080 --> 00:50:32,319
Speaker 1: kind of this perfect intersection of the help you need

1084
00:50:32,400 --> 00:50:34,360
Speaker 1: right now. But I guess I just want to encourage you.

1085
00:50:34,640 --> 00:50:36,680
Speaker 1: It's going to take some humility, some love, and some

1086
00:50:36,760 --> 00:50:40,719
Speaker 1: compassion to avoid keeping scorn and shame on your wife

1087
00:50:40,760 --> 00:50:43,160
Speaker 1: for this. But I would say that's a really important

1088
00:50:43,200 --> 00:50:44,000
Speaker 1: part of the solution.

1089
00:50:44,400 --> 00:50:48,520
Speaker 2: All right, we avoided Do we avoid any potential landlines?

1090
00:50:48,640 --> 00:50:52,319
Speaker 2: Hopefully they don't screw it up. Hopefully knows. Something that's

1091
00:50:52,360 --> 00:50:54,520
Speaker 2: easier to talk about is the beer that you and

1092
00:50:54,640 --> 00:50:57,680
Speaker 2: I enjoyed during this episode, which was a Cloak and Dagger.

1093
00:50:57,880 --> 00:51:01,120
Speaker 2: This is a Vana Lagger by Incendiary Brewing Company, donated

1094
00:51:01,120 --> 00:51:03,520
Speaker 2: to the show by Brandon. What did you think of

1095
00:51:03,560 --> 00:51:04,480
Speaker 2: this beer, buddy, dude?

1096
00:51:04,480 --> 00:51:07,120
Speaker 1: This is a rare style that we almost never have

1097
00:51:07,280 --> 00:51:09,800
Speaker 1: the n I feel like maybe our friends at Halfway

1098
00:51:09,800 --> 00:51:11,959
Speaker 1: Crooks brew a good one of these, Oh yeah, I've

1099
00:51:11,960 --> 00:51:13,000
Speaker 1: had in quite some time.

1100
00:51:13,080 --> 00:51:16,160
Speaker 2: But it's more of that traditional European style. It's old school.

1101
00:51:16,239 --> 00:51:20,800
Speaker 2: This isn't some new whizbang beer style that's got cereal

1102
00:51:20,800 --> 00:51:23,200
Speaker 2: in it. No, this is a beer style. It's been

1103
00:51:23,200 --> 00:51:24,840
Speaker 2: around for hundreds and hundreds of beers. It's got the

1104
00:51:24,840 --> 00:51:28,480
Speaker 2: original cereal in it, like oats, yeah, malt exactly.

1105
00:51:29,280 --> 00:51:31,840
Speaker 1: No fruit loops in here, no, no, no, and no artificial

1106
00:51:31,880 --> 00:51:34,080
Speaker 1: dies in this and this beer this was to me.

1107
00:51:34,280 --> 00:51:37,880
Speaker 1: It was like nice, rich caramel vibes. It was super

1108
00:51:37,920 --> 00:51:40,799
Speaker 1: well balanced, and it just made me be like, man,

1109
00:51:40,800 --> 00:51:43,759
Speaker 1: why I do gravitate towards a certain a couple of

1110
00:51:44,000 --> 00:51:46,120
Speaker 1: certain styles of beers that I typically think of as

1111
00:51:46,160 --> 00:51:49,719
Speaker 1: my favorites. But there's something just nice and approachable and

1112
00:51:49,719 --> 00:51:51,200
Speaker 1: delightful about this beer.

1113
00:51:51,120 --> 00:51:54,360
Speaker 2: So refreshing, and not because it's like cold and wet

1114
00:51:54,400 --> 00:51:56,600
Speaker 2: and I'm thirsty, but just because it's not something that

1115
00:51:56,640 --> 00:51:59,400
Speaker 2: we've had a ton of, and it's such a like

1116
00:51:59,760 --> 00:52:02,279
Speaker 2: it's even in the name right, a Vienna lager. It's

1117
00:52:02,320 --> 00:52:04,560
Speaker 2: not like it's not like a Las Vegas lagger that

1118
00:52:04,719 --> 00:52:06,640
Speaker 2: like some brewer just like came up with. This is

1119
00:52:06,680 --> 00:52:10,760
Speaker 2: something that's been around for like thousands of years, right, thousands?

1120
00:52:10,840 --> 00:52:13,239
Speaker 2: It's maybe probably right. I don't know much about me.

1121
00:52:13,280 --> 00:52:15,520
Speaker 1: Well, I guess beer history that'd be in Austria and

1122
00:52:15,640 --> 00:52:17,840
Speaker 1: beer really kind of well, beer didn't start in Germany,

1123
00:52:17,840 --> 00:52:19,960
Speaker 1: but German. When was it that the Germans were at

1124
00:52:19,960 --> 00:52:20,920
Speaker 1: the heyday of their brewing?

1125
00:52:21,040 --> 00:52:24,600
Speaker 2: I don't know. We didn't know our fifteen hundreds. All

1126
00:52:24,640 --> 00:52:26,640
Speaker 2: I know is that there is it's probably been around

1127
00:52:26,640 --> 00:52:29,840
Speaker 2: it fifteen four hundred years. There is a beer recipe

1128
00:52:30,320 --> 00:52:34,040
Speaker 2: that is found that was found in Egypt on hieroglyphs,

1129
00:52:34,080 --> 00:52:36,080
Speaker 2: like on some sort of hero glyphs or hieroglyphs. I

1130
00:52:36,120 --> 00:52:39,719
Speaker 2: don't know how you said, hieroglyphs, hieroglyphics, hieroglyphics.

1131
00:52:39,760 --> 00:52:41,840
Speaker 1: Well that was it a dogfish head that kind of

1132
00:52:41,840 --> 00:52:44,799
Speaker 1: brought We had that beer like five years ago.

1133
00:52:45,280 --> 00:52:47,879
Speaker 2: I remember talking about it then. Was it good? I think?

1134
00:52:47,920 --> 00:52:48,000
Speaker 4: So?

1135
00:52:48,120 --> 00:52:48,959
Speaker 2: Okay, that was so.

1136
00:52:48,880 --> 00:52:50,480
Speaker 1: Long ago, I can't I can't remember, and we've had

1137
00:52:50,520 --> 00:52:54,399
Speaker 1: so many beers since then. It's true, all right, Well, yeah,

1138
00:52:54,440 --> 00:52:56,080
Speaker 1: this was a fun one. Glad we got to have

1139
00:52:56,080 --> 00:52:58,000
Speaker 1: this beer. Thank you to Brandon for donating it.

1140
00:52:58,160 --> 00:52:58,480
Speaker 2: Our way.

1141
00:52:58,560 --> 00:53:00,319
Speaker 1: We really appreciate it. And by the if you have

1142
00:53:00,320 --> 00:53:02,160
Speaker 1: a money question, please do send it our way. We'd

1143
00:53:02,160 --> 00:53:05,080
Speaker 1: love to take yours next week on the show Matt.

1144
00:53:05,239 --> 00:53:06,920
Speaker 1: Until next time, best friends out and.

1145
00:53:06,960 --> 00:53:22,120
Speaker 2: Best Friends out, there's still constructions to doing. This time, something

1146
00:53:22,120 --> 00:53:22,560
Speaker 2: to be done.