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Speaker 3: So as far as the investment side, yeah, the dollar
Speaker 3: cost average. I think you had talked about that. That's
Speaker 3: a great way to start if you you know, it
Speaker 3: sounds like you started something with the retirement with the raw.
Speaker 3: But I don't know if you have a brokerage account,
Speaker 3: but if you don't, open a brokerage account, a non
Speaker 3: retirement brokerage account, so that's money that is not tied
Speaker 3: to your retirement. You can invest in that every single month.
Speaker 3: You spoke about Lawrence's class, so I'm assuming that you've
Speaker 3: been you've been tapped in with that, So that's great
Speaker 3: as far as you know, talk about investing. And then
Speaker 3: of course we talk about investing every Monday with Market Monday,
Speaker 3: so you know, we talk about the ets, the index funds,
Speaker 3: all that stuff. So you can pick a couple of
Speaker 3: stocks funds that you feel comfortable with and start putting
Speaker 3: money in every single month.
Speaker 4: That's one way to just get.
Speaker 3: The ball rolling and you know, get into the actual
Speaker 3: investment game where you're putting money away over the consistent
Speaker 3: period of time. Now, as far as the pilot situation, obviously,
Speaker 3: from what you're saying, that's a little bit more capital
Speaker 3: a lot more capital intensive, so it probably would be
Speaker 3: difficult to self raise or self fund that type of project.
Speaker 3: Me personally, I'm real big on collaboration. That's something that
Speaker 3: you know we've practic and we still do to this
Speaker 3: day is collaborate with different people. And I just personally
Speaker 3: feel like, you know, you can do a lot more
Speaker 3: together than you can separate. And even if that means,
Speaker 3: you know, working with other people for equity, like in
Speaker 3: giving up equity, like it's not wrong with giving up
Speaker 3: like we have given up equity. And our third partner, Mike,
Speaker 3: he's a childhood friend of ours, but when we brought
Speaker 3: them on, we didn't have enough money to actually pay them,
Speaker 3: so we gave him a part of the company.
Speaker 4: Now he's our business partners.
Speaker 3: So I think giving up ownership, giving up a portion
Speaker 3: of equity and giving up ownership of two different things.
Speaker 3: Giving up some equity can be a smart move if
Speaker 3: somebody can add value. That's why you give up equity,
Speaker 3: if you don't necessarily have the resources and you need
Speaker 3: to bring somebody on. Now they can provide their talent,
Speaker 3: their relationships, you know, whatever they can bring to the table,
Speaker 3: and they're not working for money because now they're a
Speaker 3: part owner in the company.
Speaker 4: So the company's success is tied to their success.
Speaker 3: So it's in their best interest for that company to
Speaker 3: be successful because the more money that the company makes,
Speaker 3: the more money that they make, as opposed to just
Speaker 3: hiring an employee, and you know, if it's a good employee,
Speaker 3: then you know they'll work is hard just because you
Speaker 3: know that's what they're supposed to do. But obviously, you
Speaker 3: know there's a lot of employees that don't care because
Speaker 3: you know, it doesn't matter how well the company does,
Speaker 3: or you know they're still going to get paid the
Speaker 3: same amount. So that's why the equity play is not
Speaker 3: always a bad play. Partnerships are not always bad. It's
Speaker 3: just a matter of just being intelligent about it, keeping ownership,
Speaker 3: keeping you know, a majority state, things of that nature.
Speaker 3: So I would approach it from that standpoint. I would
Speaker 3: approach it from partnerships. Look to see you say, you've
Speaker 3: been in the industry for a long time, so I'm
Speaker 3: sure you have a lot of great relationships with different people,
Speaker 3: and you know, who knows who would want to work
Speaker 3: with you or who won't want to partner with you,
Speaker 3: and different things of that nature. So that's how I
Speaker 3: would approach it, as opposed to even thinking about funding
Speaker 3: it out of my own pocket with that much capital
Speaker 3: if it was less capital, but if it's a lot,
Speaker 3: if it's gonna be real, real capital intensive, then you know,
Speaker 3: you might want to go a different route.
Speaker 5: Okay, that's good though. That's the partnership is definitely something
Speaker 5: that's been out there. It's just again really holding in
Speaker 5: or owning in on the or homing in on the
Speaker 5: ownership piece. We definitely want to be attachment. I'm pretty
Speaker 5: sure you can tell like sometimes people don't take you seriously.
Speaker 5: But like I said, even with having the experience, it's
Speaker 5: like that. But that was some good insight. Thank you
Speaker 5: so much.
Speaker 4: All Right, p Matt, we're coming to you and meet yourself.
Speaker 6: Please.
Speaker 4: What's going on?
Speaker 7: Yeah, hey, okay, cool, cool, Hey, I just wanted to
Speaker 7: ask a quick question. I'm sure it's been asked many times.
Speaker 7: It's about four one K rollover. My specific question is
Speaker 7: I have like three four one case from the previous employers.
Speaker 7: I'm gonna roll like one of the bigger ones into
Speaker 7: a new one that I'm participating that the employe is
Speaker 7: participating in, but then the two smaller ones I want
Speaker 7: to be able to invest myself.
Speaker 6: So just kind of to sum it up, I have
Speaker 6: I had it with Fidelity.
Speaker 7: I'm going to entrust her the lgitum mount into a
Speaker 7: company named the principal, and I've always uh trade with TD.
Speaker 7: I had a a brokerage account with excuse me, with Fidelity,
Speaker 7: but I'm I'm transferring. I transferred those funds into TV
Speaker 7: because just what I've heard is that it's it's it's.
Speaker 6: More user friendly, things of that nature.
Speaker 7: Now my question is with the other two smaller ones
Speaker 7: that I'm not going to transfer into the the account
Speaker 7: that with that's with my employer. I want to have
Speaker 7: a little bit of flexibility to to to move those around.
Speaker 7: So I didn't know if I should just keep the
Speaker 7: funds with Fidelity and have a separate IRA there or
Speaker 7: transfer it into TV where I have my brokerage account.
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Speaker 7: Way, you know, I guess, I guess I'm a little
Speaker 7: confused on what's the benefits of having it having an
Speaker 7: IRA with a different company because I'm not going to
Speaker 7: put it with the you know, I'm not trying. I'm
Speaker 7: trying not to roll everything into my four o K
Speaker 7: four one K. I'm trying to make sure that I
Speaker 7: have some flexibility to to move it around, you know,
Speaker 7: as I feel fit.
Speaker 3: So, yeah, your current four one KS with Fidelity, and
Speaker 3: you're debating whether you should roll into an IRA with
Speaker 3: Fidelity or I RA with t D. Is that the question?
Speaker 7: So it's actually with a different So my current fall
Speaker 7: one K, I'm transferring your old Yeah, the old one side.
Speaker 7: The old one was with Fidelity. So I'm transferring the
Speaker 7: old ones. Two of one of the old ones, the
Speaker 7: larger amount to one that my employees participating, and that's
Speaker 7: called the principle. So I'm already just that's that's kind
Speaker 7: of just out out there. I'm gonna just put the
Speaker 7: bigger one into the one that they're contributing to.
Speaker 6: But the two smaller ones that I have with Fidelity,
Speaker 6: I was gonna.
Speaker 7: I guess I'm trying to figure out if it makes
Speaker 7: sense to transferred over to TD since I'm kind of
Speaker 7: that's where my brokenge account is. My individual brokege account.
Speaker 7: That way, I could kind of line things up. That's
Speaker 7: that's what I'm thinking, or or I don't even know
Speaker 7: if there's any benefit of just having it transferring, taking
Speaker 7: that fall one K and turning it into a R
Speaker 7: I RA with UH with Fidelity and just keeping it
Speaker 7: where it is.
Speaker 3: Yeah, I think it depends on which you have one
Speaker 3: you feel comfortable with, right, Like, I mean, Fidelity TD,
Speaker 3: they're both good companies. They're both, you know, very similar.
Speaker 3: I personally like TD a little bit.
Speaker 4: I have both.
Speaker 3: I have FIDELI and TV TD. I like TD a
Speaker 3: little better because it just has a better user interface
Speaker 3: in my opinion. But I mean it's not like one
Speaker 3: is dramatically better than the others. So I guess it's
Speaker 3: just whatever you feel comfortable with. But you can roll
Speaker 3: it over into it a Fidelity I RA and you know,
Speaker 3: have you know, control over it and you know, pick
Speaker 3: the investments that you want, or you can roll it
Speaker 3: over into a T D I RA and have control
Speaker 3: over and pick the investments that you want.
Speaker 4: So it really just depends, honestly.
Speaker 3: I mean, that's that's just up to you, Like whatever
Speaker 3: whichever one you feel most comfortable with. Like I said
Speaker 3: me personally, I just like TD. I like TD better
Speaker 3: than Fidelity because I just feel like it has a
Speaker 3: better user interface.
Speaker 6: And yeah, so that's not true that.
Speaker 4: That's my personal opinion.
Speaker 3: So you know, but you can you can do either
Speaker 3: or I mean, there's really no no dramatic difference from
Speaker 3: one than the other, you know, similar, Okay.
Speaker 7: All right, And it's just the last thing on that
Speaker 7: on that no matter where I go to transfer it,
Speaker 7: changing that for one K into an IR, what's really
Speaker 7: the benefits of the IRA. When I'm am I able
Speaker 7: to move things around as I feel like, so I
Speaker 7: know I can't do that with the four one K.
Speaker 7: So I'm assuming that's just the only benefit is the flexibility.
Speaker 3: Right, Well, a full one K is pretty much like
Speaker 3: frozen in the sense when you're not working it anymore,
Speaker 3: not frozen weight. It's not growing. But when you when
Speaker 3: you leave a job, you can't add money to your
Speaker 3: fall one K anymore, you can't ball for it, you
Speaker 3: don't have any like advice, and you're stuck with the
Speaker 3: investments that's provided for you from the four one K.
Speaker 3: So a fall one K has like a menu of
Speaker 3: different options like they have like let's say fifteen different
Speaker 3: funds that you can pick and choose from, but you
Speaker 3: can only invest in those funds. So with an IRA,
Speaker 3: you get to pick and choose the funds that you
Speaker 3: that you want, right you can add you can add
Speaker 3: money to it. So like let's say going forward, like
Speaker 3: you start a business, or your job doesn't have a
Speaker 3: full one K, your new job doesn't have a full
Speaker 3: one K, or you can always add money to an IRA.
Speaker 3: IRA also can serve as like a central hub where
Speaker 3: you know, you might leave multiple different jobs throughout the
Speaker 3: course of your life and you might have like six
Speaker 3: different four one ks that that becomes a little difficult
Speaker 3: to manage, but you can always roll those four one
Speaker 3: ks into an IRA and have that as like the
Speaker 3: central hub for all of your old four one ks.
Speaker 4: So in a nutshell, it just gives you more flexibility.
Speaker 3: Gives you more flexibility as far as you know, being
Speaker 3: able to pick and choose your investments and you know,
Speaker 3: actually being able to put money into it as well,
Speaker 3: so those you don't have once you leave the company
Speaker 3: with an old four to one K. So that's really
Speaker 3: the benefit with the IRA as opposed to keeping the
Speaker 3: money in the old for one K.
Speaker 6: All right, sounds good. I appreciate it.
Speaker 4: Man Andrew, you are coming to you and yourself with
Speaker 4: and somebody saying the chat. You can't access them. You can't.
Speaker 3: You can't access the IRA. You just pay penalty on it,
Speaker 3: just like a four to one K. If you had
Speaker 3: like an old four to one K and you took
Speaker 3: the money out before fifty nine and a half, you
Speaker 3: pay a penalty on it. But there is there are
Speaker 3: some provisions where you can actually take some money out
Speaker 3: of without paying the penalty tax. But you always pay
Speaker 3: state and federal text on an IRA or a four
Speaker 3: one K, so they're both the same Immanet regards.
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