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

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Speaker 1: and today we are answering your listener questions. That's right, buddy,

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Speaker 1: we are bringing it back from the holidays. I guess

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Speaker 1: it's still the holidays. We still have New Year's coming

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Speaker 1: up there, don't trying to end the holiday season early. Well,

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Speaker 1: we're coming back from Christmas at least with an ask

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Speaker 1: How the Money episode. We've got five great listener questions

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Speaker 1: coming up, including one about whether a listener should pay

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Speaker 1: off his mortgage or maybe do something else with that money.

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Speaker 1: You've got another one with a listener who is trying

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Speaker 1: to figure out how to avoid paying some credit card

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Speaker 1: interest that she has coming up. And we also are

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Speaker 1: going to talk about m v n O S. I'm

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Speaker 1: not going to actually give away what that means, but

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Speaker 1: it's something that every single person who's listening to this

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Speaker 1: episode could start participating in that would allowed them to

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Speaker 1: save money every single month. Dang, that was good, like

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Speaker 1: that tease. Yeah, I'm sticking around for that. I'm glad

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Speaker 1: you are, buddy, because I couldn't do this without you,

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Speaker 1: So you try solo hosted. Come on, man, Welcome to

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Speaker 1: How the Money I'm Matt. There we go today, we're talking.

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Speaker 1: Uh no, so we're earlier. We're talking about the holidays.

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Speaker 1: Right around the holidays, I picked up a bottle of

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Speaker 1: scotch from Costco. I know, I hate on turning into me.

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Speaker 1: I'm not. I'm definitely an Audi guy. But around the holidays,

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Speaker 1: I I picked up a bottle of scotch. I've heard

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Speaker 1: you talk about the liquor at Costco, how they've got

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Speaker 1: some pretty good stuff. And I was there with my

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Speaker 1: father in law and I was kind of kind of

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Speaker 1: looking at stuff, and They've got this. They had this

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Speaker 1: giant bottle of blended scotch for under twenty bucks man

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Speaker 1: and I feel like that the Joel and me couldn't

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Speaker 1: pass up that deal. Saw it. It was a big

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Speaker 1: bottle too. I thought, there's no way, see with you

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Speaker 1: with your finer taste. I thought you would have gone

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Speaker 1: with the Kirkland signature single malt two year old or whatever.

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Speaker 1: But that's definitely how I role. But I was like,

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Speaker 1: you know what it was. It was kind of getting

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Speaker 1: towards the end of the month. I've already spent a

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Speaker 1: good amount of money this month. I didn't want to

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Speaker 1: kind of completely blow the budget out of the water.

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Speaker 1: That would have gotten Kate upset at me for having

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Speaker 1: a run through all of our entertainment money on something

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Speaker 1: that only I am really into. She doesn't really like

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Speaker 1: the single mount scotch quite as much as I do,

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Speaker 1: but with blended scotch, it's a little bit more like whiskey.

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Speaker 1: It's a little you know, it's not as pete, it's

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Speaker 1: not a smoky So I felt it's something I could

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Speaker 1: get her on board with as well. But yeah, I

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Speaker 1: remember you've talked about the liquor there before, and so

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Speaker 1: I went ahead and pounced. But that leads me to

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Speaker 1: my question, which is do you feel like it's frul

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Speaker 1: or cheap to take advantage of a deal that say

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Speaker 1: store like Costco is offering. But I myself am not

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Speaker 1: actually a member and so I hate on them all

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Speaker 1: the time. But then when I saw a deal, I

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Speaker 1: was just like, oh, I'm gonna get that. Yeah, but

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Speaker 1: let's just be honest first. You hate on them without

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Speaker 1: cause Costco has done nothing to you, nothing to deserve

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Speaker 1: this denigration that you have to pour on top of them.

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Speaker 1: It's true, I see it as a way to set

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Speaker 1: ourselves apart a little bit like you, like you're the

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Speaker 1: Costco guy. I'm the Audi guy. But I don't really

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Speaker 1: dislike cost go for any reason. All right, Well, I

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Speaker 1: appreciate you saying that that heals from wounds, um, but

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Speaker 1: now I totally think it's frugal. And here's the thing.

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Speaker 1: A lot of state laws allow people to access certain

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Speaker 1: things that Costco offers even if you're not a Costco member. So, um,

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Speaker 1: you can in many states still buy liquor from the

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Speaker 1: Costco liquor area. In most states too, you can get

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Speaker 1: a prescription filled that at the Costco pharmacy, which can

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Speaker 1: save you big bucks. Um, you can go into get

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Speaker 1: your eyes checked at the optometrist. So I don't think

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Speaker 1: that's um cheap at all. That's just frugal, man. That's

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Speaker 1: using the resources that you can get for free without

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Speaker 1: having to buy the membership. So if you're not in

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Speaker 1: the Costco that's not your thing. You can still access

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Speaker 1: maybe a few of the finer things that Costco offers

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Speaker 1: without having to have that membership. And also here that

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Speaker 1: you don't have to be a member to eat from

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Speaker 1: the food court. I think that's true too. In my

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Speaker 1: food court, I mean the pizza and hot dogs, which

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Speaker 1: during the pandemic, I believe those are the only options

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Speaker 1: they have so limited. Yeah, I was reading somewhere and

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Speaker 1: they said, you just like walking the exit, Like you

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Speaker 1: don't go in the entrance because to go in the

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Speaker 1: entrance you have to show them your car. But you

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Speaker 1: just walk in the exit and then you walk to

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Speaker 1: where you buy the food, And like that makes me think, well,

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Speaker 1: why don't you then just kind of walk to the

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Speaker 1: rest of the store. But I guess in the end,

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Speaker 1: you have to make a purchase with your car, exactly. Yeah.

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Speaker 1: You know, if you're checking out at a typical register

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Speaker 1: but not at the food court, you could yeah, exactly,

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Speaker 1: you don't have to show your your Costco membership at

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Speaker 1: the food court, but I guess you could go, like

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Speaker 1: try to pick some stuff up. But when you walk

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Speaker 1: to the register, they're gonna ask for that um Costco

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Speaker 1: membership and you're gonna be like, oh sor they're gonna

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Speaker 1: turn you away. But I'm glad you got your scotch.

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Speaker 1: Let me know how it is. Well, all right, well,

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Speaker 1: let's mention the beer that we're having on the show today.

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Speaker 1: This one is Trader Joe's vintage spiced ale and if

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Speaker 1: you have a Trader Joe's where you live, they sell

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Speaker 1: this every holiday season. It's a worthwhile beer to pick up.

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Speaker 1: It's only six bucks on the shelf. Um, so it's

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Speaker 1: a deal. It is a deal. Um. So if you're

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Speaker 1: into Belgian style beers, well, we will tell you what

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Speaker 1: we think of this one at the end of the episode,

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Speaker 1: but for now, let's get onto the listener questions. For

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Speaker 1: anybody out there that has a question they'd like Matt

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Speaker 1: and I to tackle on a future episode, just go

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Speaker 1: to how to money dot com slash ask and there

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Speaker 1: are simple instructions there for how you can submit voice

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Speaker 1: memo to the show to be hopefully featured on an

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Speaker 1: upcoming episode. Matt, let's get to the first one of

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Speaker 1: the day. This one's about talking to a significant other

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Speaker 1: about money. Hey, Joelan Matte, my name is Jason uh

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Speaker 1: listener from New Hampshire. I'm up this way for graduate school. Actually,

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Speaker 1: if you're ever up this way, stop by Keen for

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Speaker 1: Branching Blade Brewery. They have probably one of the best

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Speaker 1: sour beers I've ever had. My question today is I'm

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Speaker 1: having difficulty talking to my girlfriend about finances. It seems

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Speaker 1: like when we talk about money, she either shies away

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Speaker 1: from the topic or does not want to listen to

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Speaker 1: my recommendations. I'm slightly more spendcrift than she is, although

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Speaker 1: I'm with it well within my budget, but she's more

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Speaker 1: of a penny pincher, and she just frequently assumes that

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Speaker 1: she can't afford anything, even though that's far from the truth.

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Speaker 1: I'm not sure how to make her realize that money

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Speaker 1: can be used as a tool for happiness and experiences.

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Speaker 1: I just don't know how to facilitate a conversation of

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Speaker 1: finances and money um with her. We've been dating for

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Speaker 1: almost four years now, actually over four years now, and

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Speaker 1: she's the love of my life. Any tips or recommendations

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Speaker 1: would be greatly appreciated. Thanks guys, Jason, thanks for the

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Speaker 1: beer recommendation. I always look forward to listener beer recommendations, Matt,

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Speaker 1: because I never get tired of trying new craft beer.

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Speaker 1: Ranching Blade as well. That's I feel like that's a

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Speaker 1: that sounds like a brewery that's up my alley. Yeah,

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Speaker 1: it sounds like a brewery that's of the earth. We're

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Speaker 1: probably gonna like that, Yeah, exactly. Um And Jason, let's

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Speaker 1: get to your question. Well, first off, you mentioned in

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Speaker 1: your question you mentioned recommendations, trying to offer your girlfriend recommendations,

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Speaker 1: and Um, I would say, typically, with money being a

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Speaker 1: subject that can be really sensitive, a lot of people

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Speaker 1: are just not going to instinctively respond well to suggestions. UM.

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Speaker 1: And so I think often the reason that the topic

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Speaker 1: can be sensitive is because talking about money can be

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Speaker 1: a little embarrassing. It can feel a little hard, especially

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Speaker 1: if it wasn't talked about or handled well in your house,

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Speaker 1: growing up in your girlfriend's house in particular, UM, and

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Speaker 1: she maybe prefers to keep the subject more private because

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Speaker 1: that's how she was raised, because she was raised not

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Speaker 1: to talk about money, or that talking about money was

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Speaker 1: a bad thing, or that it wasn't done in polite society,

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Speaker 1: it wasn't civilized. Um. That's kind of the way a

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Speaker 1: lot of people grew up, and it can create some

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Speaker 1: weird dynamics around money. UM. For sure, of course, you know, Matt,

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Speaker 1: and I would say it's important to work together to

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Speaker 1: overcome that history in order to have healthy conversations moving forward.

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Speaker 1: And of course, if that is the case for her,

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Speaker 1: I certainly don't know, but it is important to to

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Speaker 1: then work together to overcome any sort of negative history

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Speaker 1: with money and talking about money in order to have

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Speaker 1: healthy conversations moving forward. And so, yeah, we want to

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Speaker 1: do our best to help you and your girlfriend have

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Speaker 1: those um conversations moving forward. So so, Matt, let's kind

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Speaker 1: of get into some of our best tips for Jason

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Speaker 1: in making that happen. Yeah, I think something else I

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Speaker 1: want to point out that it sounds like, Jason that

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Speaker 1: you're doing well is that you're sticking to a budget yourself.

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Speaker 1: You know, this is an awesome place to start. I

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Speaker 1: know when Kate and I, when we were getting serious

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Speaker 1: and starting to have money conversations, she wasn't into talking

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Speaker 1: about personal finance at all. She completely avoided it until

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Speaker 1: she realized that, you know, the magic of a budget. Uh.

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Speaker 1: When she started seeing a budget not as a tool

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Speaker 1: that limited her, but as a tool that gave her

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Speaker 1: freedom to spend money, it completely changed how she approached

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Speaker 1: our money conversations. Right, she didn't have to feel bad

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Speaker 1: or guilty about spending a little bit of extra maybe

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Speaker 1: when we're going out one night, because you know, like

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Speaker 1: that's a decision we made together when we created the

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Speaker 1: budget at the beginning of the month. Of course, that

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Speaker 1: just means that we're, you know, maybe gonna spend a

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Speaker 1: little bit less next week until we reached the end

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Speaker 1: of the month. And so for you, for your girlfriend,

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Speaker 1: if she can begin seeing a budget simply as a

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Speaker 1: spending plan for the month, she might realize a lot

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Speaker 1: of joy, uh and freedom as well. Yeah, man, I

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Speaker 1: think a budget is a good place to start, and

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Speaker 1: and talking about what a budget actually means is a

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Speaker 1: huge part of that. And I think you're right. I

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Speaker 1: think a budget can and should mean freedom. But most

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Speaker 1: of us feel like a budget me chains it feels

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Speaker 1: like it's inhibiting our ability to spend. But really, like

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Speaker 1: you said, your goals shouldn't be informing your budget, and

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Speaker 1: then your budget is going to allow you that freedom

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Speaker 1: to achieve those spending and saving these goals that you have.

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Speaker 1: And so that needs to be part of the discussion,

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Speaker 1: is reframing what a budget means. Yeah, it removes the

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Speaker 1: emotions from the conversation, right, Like in the moment, you're

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Speaker 1: not thinking, oh, should I or shouldn't I. It's like, okay, no,

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Speaker 1: does this fit within the budget? It really comes down to, Uh,

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Speaker 1: it comes down to the numbers at the point, it's

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Speaker 1: not a judgment call. It's like, Okay, does this or

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Speaker 1: does this not fit in the budget? How much money

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Speaker 1: do we have left? If you have money left, then

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Speaker 1: spend that money. But you know what if you don't, well,

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Speaker 1: there's nothing to really decide. It's already been decided. You

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Speaker 1: can't spend that money. Yeah, yeah, And then I think

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Speaker 1: another thing that Jason should do in order to help

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Speaker 1: make these conversations palatable is to make them feel safe.

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Speaker 1: Sometimes people shy away from money conversations because they pop

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Speaker 1: up on a whim when a behavior that maybe one

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Speaker 1: person in the partnership doesn't love arises, Like, for instance, hey,

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Speaker 1: I just looked at our Amazon account, our joint Amazon accou.

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Speaker 1: I saw some kind of crazy spending. It looks like

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Speaker 1: we bought a lot of stuff on a whim. And

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Speaker 1: that is just not a helpful way to start a

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Speaker 1: conversation about money. Yet that's the way a lot of

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Speaker 1: our money conversations get started is typically seeing something like that.

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Speaker 1: Um getting a wild hair to start having that conversation now,

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Speaker 1: because things aren't going the way you want them to go.

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Speaker 1: But if you can instead create a relaxing time and

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Speaker 1: place to specifically talk about money, and preferably an environment

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Speaker 1: you love, maybe with a good beer. Um, right, it

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Speaker 1: can help that money conversation flow. Emily and I we

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Speaker 1: we get together Sunday nights at eight pm and it's

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Speaker 1: a time after the kids are in bed where and

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Speaker 1: we talk about other things too, not just money, but

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Speaker 1: that's kind of our family meaning time, and that goes

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Speaker 1: a long way in kind of creating a safe place

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Speaker 1: to talk about our money stuff. And in one way,

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Speaker 1: I think to actually initiate that conversation to make it

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Speaker 1: a little bit easier. You know, Jason mentioned that his

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Speaker 1: girlfriend's actually really good with money, and one of the

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Speaker 1: things that you can do to start a good conversation

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Speaker 1: is to actually tell her the positives that you see

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Speaker 1: in how she handles money. You know, Emily, Now we

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Speaker 1: start off those conversations with like gratitude towards each other. Hey,

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Speaker 1: here's what you've done from me this week, Here's what

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Speaker 1: I've seen in you this week. And that actually just

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Speaker 1: helps stimulate a good conversation in general. But the same

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Speaker 1: can be true when we're talking about money, and you

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Speaker 1: can praise her for how great she is and handling money,

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Speaker 1: and that can actually prompt a conversation. Sometimes just saying

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Speaker 1: something nice can actually really tear down some communication barriers

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Speaker 1: and and spur a good conversation. Nice. I like that

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Speaker 1: y'all do that every single week. I mean kitting I

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Speaker 1: have a similar conversation, but it's not planned like that,

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Speaker 1: which is interesting because I feel like you're more of

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Speaker 1: the kind of free wheel in person personality, whereas I'm

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Speaker 1: the one that likes to stick to a hard schedule.

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Speaker 1: So I think that's something I'm going to immediately adopt myself. Well,

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Speaker 1: so it was something that Emily was like, we should

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Speaker 1: do this, we should do this, we should do this,

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Speaker 1: and I was like, that sounds great, um, but I

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Speaker 1: never prioritized that. I never did it. And so finally

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Speaker 1: she was like, I mean I really want to do this,

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Speaker 1: and I don't know how else you stick on the

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Speaker 1: calendar and no. Then I was like, oh, she means business, Okay,

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Speaker 1: I'm sticking on the calendar. So it was one of

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Speaker 1: those things where I had to be prompted many times.

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Speaker 1: I was a little a little tone deaf. But it

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Speaker 1: has been, um, really good. Has he's done some wonders

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Speaker 1: for us being able to talk about just family stuff, uh,

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Speaker 1: finance stuff, everything, like the whole gamut of stuff that

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Speaker 1: you have to connect on and having a specific time

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Speaker 1: set aside on the calendar really helps make that happen

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Speaker 1: and happen well. I love that. Yeah, and I think

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Speaker 1: Jason and his girlfriend could implement something like that. And

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Speaker 1: may I even propose branch and blade and budgets. I

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Speaker 1: think that could be a weekly thing that they implement

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Speaker 1: in their lives, Jason. Another thought that we had to

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Speaker 1: was how you could direct your attention towards something else. Right, So,

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Speaker 1: for instance, would your girlfriend be willing to read a

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Speaker 1: book or listen to a podcast with you? Uh? Our

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Speaker 1: recent conversation with Rachel Cruz popped into my mind when

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Speaker 1: I heard your question. But sometimes a third party can

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Speaker 1: help initiate a conversation like this, and you don't have

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Speaker 1: to pay somebody to do this for you. You don't

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Speaker 1: have to go to counseling. Even just a book or

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Speaker 1: a podcast can be the perfect jumping off point. Um.

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Speaker 1: One of the other things I'm thinking of two. In

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Speaker 1: Rachel's book, she talked about how each person has their

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Speaker 1: own money tendencies and one of those key tendencies is

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Speaker 1: you're either a saver or you're a spender, And Jason,

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Speaker 1: it sounds like you are the spender and your reference

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Speaker 1: the saver. And so something else to keep in mind

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Speaker 1: here is realize that this makes you who you are,

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Speaker 1: right like, don't try to change the other person. Being

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Speaker 1: able to come to a relationship with balance and and

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Speaker 1: having a different perspective ads depth and richness to any relationship.

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Speaker 1: And so keep that in mind. But yeah, it is

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Speaker 1: important though to be working towards talking about these things together. Yeah,

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Speaker 1: And I actually think like a lot of that content

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Speaker 1: that Rachel talked about, there's a lot of interesting places

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Speaker 1: to begin having a money conversation kind of based on

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Speaker 1: the analytical work that she's done, Um talking about Yeah,

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Speaker 1: your money type or your money quadrant, those kind of

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Speaker 1: things could start a stimulating, interesting conversation that's less based

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Speaker 1: on the action maybe that someone did that you didn't

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Speaker 1: agree with, and you know, it could it could just

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Speaker 1: start at a higher level, which can make it more interesting.

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Speaker 1: And I think to Jason, sometimes penny pinchers can have

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Speaker 1: a hard time seeing that they can spend money in

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Speaker 1: positive ways without it negatively affecting them and I can

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Speaker 1: identify with your girlfriend on this, but even us penny

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Speaker 1: pinchers need to be reminded of the role that they

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Speaker 1: should play in our lives. They need, we need the

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Speaker 1: other person in our relationship to kind of pull us

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Speaker 1: out of that to a certain extent in a kind way,

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Speaker 1: and to remember that money is a tool that can

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Speaker 1: help us to live well. So, yeah, be intentional about

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Speaker 1: getting these discussions rolling with your girlfriend that they do

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Speaker 1: more than just help us be better savers or spenders.

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Speaker 1: I actually think, Matt, kind of like you just said,

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Speaker 1: they helped deepen our relationship in a really meaningful way.

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Speaker 1: And so if that conversation, if that topic is off limits,

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Speaker 1: that's just not good for a healthy relationship. We need

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Speaker 1: to be able to talk about that. And there's ways,

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Speaker 1: I think, Jason, hopefully with with some of these um

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Speaker 1: tips that we just mentioned, that you can get started,

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Speaker 1: get the ball rolling in a way that makes her

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Speaker 1: feel comfortable and ready to kind of open up a

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Speaker 1: little bit. So yeah, alright, Matt, We've got more questions

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Speaker 1: to get to, including one about paying off a mortgage

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Speaker 1: in full or whether that's a bad idea. We'll get

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Speaker 1: to that and more right after this break. All right,

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Speaker 1: we are back from the break, and let's say this

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Speaker 1: question about what to do with I choke a cash

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Speaker 1: that's sitting around. Hello, this is James from Champagne, Illinois.

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Speaker 1: I have a mortgage question for you. In two thousand fifteen,

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Speaker 1: I refinanced my house at a two point eight seven

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Speaker 1: five percent interest rate a fifteen year mortgage. I have

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Speaker 1: a little over nine years left on that mortgage, and

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Speaker 1: then there's a balance about two hundred and ten thousand dollars.

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Speaker 1: Over the years, I've also paid off my student loans,

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Speaker 1: my car payments, and I regularly contribute to my four

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Speaker 1: oh one K and I also have some real estate

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Speaker 1: invested in rental properties. I also have about three fifty

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Speaker 1: thousand dollars in savings that I could use to pay

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Speaker 1: off my mortgage. I wanted to know if you thought

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Speaker 1: that was a good idea or if it would be

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Speaker 1: better to continue to have this next day. Considering the

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Speaker 1: pandemic that we're going through, it's been really nice to

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Speaker 1: not have to stress about having money on hand, but

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Speaker 1: I also am anxious to pay off this mortgage. One

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Speaker 1: of the suggestions that I thought about was to pay

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Speaker 1: off the mortgage and then continue making the mortgage payments

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Speaker 1: back into my savings account, so that in seven years

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Speaker 1: I would end up repaying the the money that I

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Speaker 1: spent instead of paying off the mortgage in nine years.

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Speaker 1: Thank you for your time, Thank you for your podcast.

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Speaker 1: I really appreciate your your information. I look forward to

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Speaker 1: your podcast and listen to it on a weekly basis. James,

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Speaker 1: thanks so much for that question. And Joel, by the way,

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Speaker 1: did you notice how he just casually mentioned how he

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Speaker 1: had three dollars just sitting there in the bank. I mean,

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Speaker 1: that's insane, that is that's awesome, but awesome. Yeah, Like,

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Speaker 1: that's just incredible. It's a huge amount of savings. And

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Speaker 1: I think too for anybody with a mortgage and you know,

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Speaker 1: with a decent amount of savings in the bank. This

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Speaker 1: question is probably popped up as as savings rates have

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Speaker 1: kind of gotten crushed recently. It's just kind of gotten

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Speaker 1: tougher though, because mortgage interest rates have gotten down gone

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Speaker 1: down at the same time. And so in answer to

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Speaker 1: this question, James will talk about both the math and

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Speaker 1: the mindset behind how you make this decision. I think,

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Speaker 1: like he said, Matt Nest, eggs that are important in

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Speaker 1: an uncertain time period. You don't want to completely deplete

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Speaker 1: your savings in order to pay off what's a low

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Speaker 1: priority debt. I mean, the mortgage is is literally typically

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Speaker 1: it's the lowest priority debt in your life because they

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Speaker 1: come at such low interest rates. So paying off something

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Speaker 1: that's at sub three it's it's usually low on the

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Speaker 1: financial priority scale. That's true, Yeah, it's low on the

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Speaker 1: total pole. But James, I think a good question to

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Speaker 1: ask yourself is like, what other financial goals do you have?

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Speaker 1: It sounds like you've already eliminated other debts in your

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Speaker 1: life and and so there's likely no other debts that

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Speaker 1: are higher than three percent, And so assuming that you're

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Speaker 1: maxing at your four one k every year, then it's

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Speaker 1: time to to look at other investment options if you

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Speaker 1: want to do them right. And so for someone like

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Speaker 1: you who's crushing your personal finances, you know that you'd

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Speaker 1: very likely be able to earn more than three percent

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Speaker 1: if you invested that money in additional real estate or

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Speaker 1: even in a taxable brokerage account. Um. You know, in

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Speaker 1: this way, it's really a simple math problem, but you

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Speaker 1: have to kind of think through whether or not that's

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Speaker 1: something that you want to do or not. You have

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Speaker 1: to think through your personal and your financial goals. But

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Speaker 1: once you've identified with the are uh, all you have

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Speaker 1: to do is just look to where you're going to

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Speaker 1: get the best bang for your buck. Uh. That's when

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Speaker 1: you're looking at the numbers, right. But it's not always

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Speaker 1: about the numbers. It's not always about the math. Yes, exactly,

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Speaker 1: and that's where there's a money and a mental angle

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Speaker 1: when it comes to this question of ditching a mortgage

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Speaker 1: or not, Matt. Earlier this year, you prioritize paying off

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Speaker 1: a home equity line of credit over investing, even though

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Speaker 1: it wasn't a high priority debt, it was at a

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Speaker 1: pretty low interest rate. I personally paid off a mortgage

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Speaker 1: on an investment property, again not a high priority debt.

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Speaker 1: Typically to to be paying down you and I, Matt,

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Speaker 1: we made these moves not necessarily because they were the

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Speaker 1: best return on our money from a number standpoint. You know.

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Speaker 1: Putting that money instead in more tax advantage retirement accounts

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Speaker 1: or in a brokerage account ultimately over the years would

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Speaker 1: probably give us a better return, But we did it

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Speaker 1: because it's worth it to know that these are debts

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Speaker 1: we no longer, Oh, to have them completely out of

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Speaker 1: our lives. It was more of a mental calculation for

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Speaker 1: you and I than it was a dollars and cents one. Yeah,

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Speaker 1: I mean it's almost like a personal experiment as well,

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Speaker 1: because like the numbers, the nerdy numbers side of us

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Speaker 1: are like, like, is this the right thing to do?

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Speaker 1: But you know that kind of as you and I

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Speaker 1: have grown up a little bit and as we've evolved,

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Speaker 1: we've begun to appreciate its value, that kind of peace

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Speaker 1: of mind that comes with a guaranteed r O. I

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Speaker 1: like that, you know, And so by paying off any debt,

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Speaker 1: you know that you're going to at least get that amounts.

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Speaker 1: You know, like that you're gonna at least get that

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Speaker 1: return on your money, whereas like, yes, you should be

429
00:19:40,640 --> 00:19:42,560
Speaker 1: able to earn more than that if you're invested in

430
00:19:42,560 --> 00:19:45,680
Speaker 1: the market or in real estate, but it's not guaranteed. Uh.

431
00:19:45,720 --> 00:19:47,200
Speaker 1: This is a great way to to be able to

432
00:19:47,240 --> 00:19:49,800
Speaker 1: minimize risk as well as simplify your life. You know,

433
00:19:49,840 --> 00:19:51,720
Speaker 1: earlier I was talking about kind of these personal goals

434
00:19:51,720 --> 00:19:53,639
Speaker 1: that you might have, and if a personal goal of

435
00:19:53,680 --> 00:19:56,520
Speaker 1: yours is to have less balls in the air than

436
00:19:56,560 --> 00:19:59,040
Speaker 1: eliminating these debts is a good way to go about that. Yeah,

437
00:19:59,040 --> 00:20:00,840
Speaker 1: And and and somebody has conserve rid of as James. If

438
00:20:00,840 --> 00:20:03,200
Speaker 1: he's got that much money into the bank account, he's

439
00:20:03,240 --> 00:20:05,159
Speaker 1: probably not going to invest all of it, right, right,

440
00:20:05,320 --> 00:20:07,359
Speaker 1: He's not looking to stretch himself in right exactly. And

441
00:20:07,760 --> 00:20:09,879
Speaker 1: we should all have a certain amount of conservatism, like

442
00:20:09,920 --> 00:20:11,520
Speaker 1: when it comes to our finances, right, we don't want

443
00:20:11,560 --> 00:20:13,639
Speaker 1: to be all in on investing to the detriment of

444
00:20:13,640 --> 00:20:17,400
Speaker 1: an emergency fund or having enough storterway for a rainy day.

445
00:20:17,840 --> 00:20:19,760
Speaker 1: And I think that's wise, right, There's a there's a

446
00:20:19,800 --> 00:20:21,959
Speaker 1: huge amount of wisdom to having cash on hand for

447
00:20:22,000 --> 00:20:24,640
Speaker 1: those needs and paying off the mortgage gives you something

448
00:20:24,680 --> 00:20:26,840
Speaker 1: similar And at the same time, it takes that money

449
00:20:26,880 --> 00:20:28,560
Speaker 1: out of a savings account that you have it in.

450
00:20:28,640 --> 00:20:31,240
Speaker 1: Otherwise that's earning you know, at best right now, probably

451
00:20:31,240 --> 00:20:33,320
Speaker 1: like point six percent. So I think it can make

452
00:20:33,359 --> 00:20:36,040
Speaker 1: for somebody like James with that much cash on hand

453
00:20:36,200 --> 00:20:39,679
Speaker 1: since from a mental and uh money standpoint, it reduces

454
00:20:39,720 --> 00:20:42,240
Speaker 1: that risk, reduces that leverage. I mean, I get fed

455
00:20:42,240 --> 00:20:44,399
Speaker 1: these videos you'll where like I saw this one recently

456
00:20:44,400 --> 00:20:46,719
Speaker 1: where this guy was like in a cubicle and he's like,

457
00:20:46,960 --> 00:20:48,480
Speaker 1: I don't know it was it was a caption like

458
00:20:48,480 --> 00:20:50,520
Speaker 1: he wasn't talking about the little words were popping up

459
00:20:50,520 --> 00:20:53,440
Speaker 1: on the Instagram, little ad or whatever. And the dude

460
00:20:53,520 --> 00:20:55,800
Speaker 1: was like, I've got over seven million dollars in debt,

461
00:20:55,840 --> 00:20:58,720
Speaker 1: but I'm not sweating it at all. And the reason

462
00:20:58,720 --> 00:21:00,720
Speaker 1: why it's because I have a hundred already one doors

463
00:21:00,720 --> 00:21:03,680
Speaker 1: that I manage and it's just talking about real estate.

464
00:21:03,720 --> 00:21:05,720
Speaker 1: And yes, like that is something you can do, but

465
00:21:05,800 --> 00:21:09,199
Speaker 1: that's leverage, and the more leveraged you are, the riskier

466
00:21:09,280 --> 00:21:11,520
Speaker 1: the situation you put yourself in. And so it just

467
00:21:11,560 --> 00:21:14,560
Speaker 1: depends on your comfort level with risk. But but James,

468
00:21:14,640 --> 00:21:16,560
Speaker 1: you know, like Joel was saying, you're in such a

469
00:21:16,640 --> 00:21:19,280
Speaker 1: solid financial position that it we think it does make

470
00:21:19,320 --> 00:21:21,520
Speaker 1: sense for you to pay off this mortgage. It sounds

471
00:21:21,520 --> 00:21:23,600
Speaker 1: like you have no other debts uh, and if you

472
00:21:23,600 --> 00:21:27,080
Speaker 1: can continue investing solidly like you have been uh, and

473
00:21:27,160 --> 00:21:29,320
Speaker 1: you will also still be you know, able to maintain

474
00:21:29,359 --> 00:21:31,560
Speaker 1: a rock solid savings then paid off, you know, it's

475
00:21:31,560 --> 00:21:34,080
Speaker 1: it sounds like you will still have a hundred forty

476
00:21:34,080 --> 00:21:37,320
Speaker 1: thousand dollars in cash on hand, which means you're savings

477
00:21:37,400 --> 00:21:41,119
Speaker 1: is still in a really great spot unless your monthly

478
00:21:41,160 --> 00:21:44,400
Speaker 1: spending is similar to that of a French king perhaps,

479
00:21:45,240 --> 00:21:47,280
Speaker 1: but you know, as you noted every month, you'll be

480
00:21:47,320 --> 00:21:51,320
Speaker 1: replenishing that savings supply quickly as well. So you know,

481
00:21:51,400 --> 00:21:52,760
Speaker 1: with all that in mind, we would say for you

482
00:21:52,800 --> 00:21:54,760
Speaker 1: to to go for it. Let's get to the next question.

483
00:21:54,800 --> 00:21:57,800
Speaker 1: This one in particular is about negotiating a lower interest

484
00:21:57,920 --> 00:22:01,399
Speaker 1: rate on your credit cards. All Joel in Matt, my

485
00:22:01,480 --> 00:22:04,760
Speaker 1: name is Denise from Florida. I just want to say

486
00:22:04,800 --> 00:22:07,439
Speaker 1: that during this time your advice has been key to

487
00:22:07,520 --> 00:22:11,479
Speaker 1: my financial strides, so much so I need your advice again.

488
00:22:12,119 --> 00:22:14,439
Speaker 1: One of the tips that you told us about was

489
00:22:14,560 --> 00:22:17,960
Speaker 1: negotiating a lower interest rate for credit cards. I got

490
00:22:18,000 --> 00:22:23,399
Speaker 1: mine down from to FO. This term ends in December.

491
00:22:23,440 --> 00:22:27,080
Speaker 1: On December, I know that I could be done with

492
00:22:27,119 --> 00:22:30,159
Speaker 1: this debt in about three months, but to avoid the

493
00:22:30,240 --> 00:22:33,040
Speaker 1: higher interest rates, should I borrow money from my four

494
00:22:33,080 --> 00:22:35,680
Speaker 1: oh one K through the Cares Act to pay off

495
00:22:36,320 --> 00:22:39,359
Speaker 1: knowing that within the next three months I will be

496
00:22:39,400 --> 00:22:42,000
Speaker 1: putting the money back into my four oh one K.

497
00:22:42,760 --> 00:22:46,639
Speaker 1: Your advice would be appreciated. Thanks. Yeah, thanks for that question, Denise.

498
00:22:46,680 --> 00:22:48,920
Speaker 1: We're glad our advice in the past has been helpful

499
00:22:48,960 --> 00:22:51,000
Speaker 1: for you, and you know, we're really glad that you're

500
00:22:51,040 --> 00:22:54,720
Speaker 1: able to negotiate that lower interest rate on your credit card. Um,

501
00:22:54,760 --> 00:22:57,159
Speaker 1: but you know, all that note considered going back to

502
00:22:57,240 --> 00:23:00,159
Speaker 1: the well on that your credit card company is no

503
00:23:00,280 --> 00:23:02,520
Speaker 1: stranger to getting calls like this, and so reach back

504
00:23:02,520 --> 00:23:06,320
Speaker 1: out and kindly ask for an extension of that lower

505
00:23:06,320 --> 00:23:08,600
Speaker 1: interest rate period. The worst they can say is no.

506
00:23:08,760 --> 00:23:11,720
Speaker 1: So it's worth going for. And especially because of the pandemic,

507
00:23:11,720 --> 00:23:14,760
Speaker 1: credit card companies are responding better to ask like this.

508
00:23:14,840 --> 00:23:16,800
Speaker 1: They know that folks are hurting, They know that folks

509
00:23:16,800 --> 00:23:20,080
Speaker 1: are looking for reprieves, you know, from their from their interest,

510
00:23:20,160 --> 00:23:22,440
Speaker 1: from maybe the higher rates of interest that they've been paying.

511
00:23:22,680 --> 00:23:24,200
Speaker 1: And so I think it's something that they're going to

512
00:23:24,320 --> 00:23:26,399
Speaker 1: be prepared for and you might be surprised that the

513
00:23:26,440 --> 00:23:28,480
Speaker 1: luck you have there. Yeah. Yeah, a lot of times

514
00:23:28,600 --> 00:23:30,439
Speaker 1: credit card companies are giving you six months of a

515
00:23:30,480 --> 00:23:32,159
Speaker 1: lower interest rate and then you know what, you call

516
00:23:32,200 --> 00:23:34,320
Speaker 1: back six months later, they'll do it again. So I'm

517
00:23:34,320 --> 00:23:36,680
Speaker 1: a big fan of using what works and what's worked

518
00:23:36,680 --> 00:23:39,120
Speaker 1: in the past and and trying that again. I agree, Matt.

519
00:23:39,160 --> 00:23:41,199
Speaker 1: And then also to for Denise, if you have a

520
00:23:41,240 --> 00:23:44,840
Speaker 1: solid credit, Denise, consider a balanced transfer card to We

521
00:23:44,880 --> 00:23:46,520
Speaker 1: have a list on our site of the best ones

522
00:23:46,560 --> 00:23:49,040
Speaker 1: to consider that have the lowest transfer fees. Will link

523
00:23:49,119 --> 00:23:51,440
Speaker 1: to that article in the show notes. But especially considering

524
00:23:52,000 --> 00:23:54,639
Speaker 1: your ability to pay off this debt quickly, a balance

525
00:23:54,680 --> 00:23:57,119
Speaker 1: transfer card with a zero percent interest rate of twelve

526
00:23:57,160 --> 00:24:00,159
Speaker 1: months maybe fifteen months should really more than cover you,

527
00:24:00,440 --> 00:24:03,200
Speaker 1: and it will mean avoiding to having to even consider

528
00:24:03,240 --> 00:24:04,800
Speaker 1: taking money out of a four oh on K or

529
00:24:04,800 --> 00:24:07,320
Speaker 1: any sort of retirement account. But Denise, if you can't

530
00:24:07,359 --> 00:24:10,159
Speaker 1: read negotiate that rate down, uh, and maybe your credit

531
00:24:10,320 --> 00:24:12,960
Speaker 1: isn't in great shape, then just look to see if

532
00:24:12,960 --> 00:24:15,320
Speaker 1: there are some ways where you can still really go

533
00:24:15,400 --> 00:24:18,280
Speaker 1: after that debt. Right, you only have three months left,

534
00:24:18,720 --> 00:24:20,720
Speaker 1: so if your rate does shoot back up, look to

535
00:24:20,800 --> 00:24:23,720
Speaker 1: ways that you can potentially cut back into other areas

536
00:24:23,720 --> 00:24:26,359
Speaker 1: of your life so that you're able to completely eliminate

537
00:24:26,400 --> 00:24:28,800
Speaker 1: that additional interest. You know, any way that you're able

538
00:24:28,840 --> 00:24:32,119
Speaker 1: to reduce your spending is a dollar for dollar return

539
00:24:32,200 --> 00:24:34,480
Speaker 1: on your money. It's good to remember that, even though

540
00:24:34,600 --> 00:24:36,840
Speaker 1: you know there isn't that ten percent penalty associated with

541
00:24:36,960 --> 00:24:39,240
Speaker 1: you know, tapping your fro owen K, you'll still have

542
00:24:39,320 --> 00:24:42,199
Speaker 1: to pay taxes UH income taxes on that money, and

543
00:24:42,200 --> 00:24:44,399
Speaker 1: so this is another reason to avoid taking out that

544
00:24:44,440 --> 00:24:47,080
Speaker 1: money as well. You might be taking out you know,

545
00:24:47,119 --> 00:24:49,400
Speaker 1: a thousand bucks or so, but in reality you're gonna

546
00:24:49,400 --> 00:24:52,040
Speaker 1: be withdrawing more than that. Yeah, Basically by taking out

547
00:24:52,080 --> 00:24:54,120
Speaker 1: some of that money now, you'll have a higher tax

548
00:24:54,160 --> 00:24:57,200
Speaker 1: bill come April. That's not ideal either. So yeah, we

549
00:24:57,280 --> 00:24:59,160
Speaker 1: prefer for you not to take money out of your

550
00:24:59,160 --> 00:25:01,639
Speaker 1: retirement account as especially since it looks like you're so

551
00:25:01,800 --> 00:25:03,720
Speaker 1: close to paying off the debt completely. If you're just

552
00:25:03,800 --> 00:25:06,320
Speaker 1: a few months out, there's no reason to complicate things

553
00:25:06,600 --> 00:25:09,879
Speaker 1: take money out of retirement account. That money, in all

554
00:25:09,920 --> 00:25:14,280
Speaker 1: likelihood will continue to compound UH for ten years or longer.

555
00:25:14,480 --> 00:25:16,720
Speaker 1: So instead, take advantage of the other great options that

556
00:25:16,720 --> 00:25:18,639
Speaker 1: are out there, Denice, go back to the well with

557
00:25:18,640 --> 00:25:21,560
Speaker 1: your credit card company, consider a balanced transfer card, and

558
00:25:21,560 --> 00:25:23,640
Speaker 1: then cut back on your spending to to get there

559
00:25:23,680 --> 00:25:25,480
Speaker 1: even more quickly. You're almost there the lights at the

560
00:25:25,520 --> 00:25:27,640
Speaker 1: end of the tunnel. Keep up the good work, Denise.

561
00:25:27,880 --> 00:25:31,560
Speaker 1: I think one it's gonna be a good year for you. Joel,

562
00:25:31,600 --> 00:25:34,800
Speaker 1: We've got a couple more questions, including one about UH

563
00:25:34,960 --> 00:25:38,080
Speaker 1: taxes uh, in particular taxes when you are self employed.

564
00:25:38,119 --> 00:25:50,280
Speaker 1: We'll get to those right after this break. M alright,

565
00:25:50,320 --> 00:25:52,479
Speaker 1: we're back from the break, and this question is about

566
00:25:52,840 --> 00:25:56,359
Speaker 1: going to a discount cell service provider. Is it worth it? Hi, guys,

567
00:25:56,520 --> 00:26:00,080
Speaker 1: this is Dean from Cinema County Wine Country in California. You.

568
00:26:00,760 --> 00:26:02,959
Speaker 1: I've really appreciated your show, and I'm wondering if you

569
00:26:03,000 --> 00:26:06,600
Speaker 1: could delve into the world of mobile virtual network operators

570
00:26:06,960 --> 00:26:10,320
Speaker 1: or m v n os for short. My family has

571
00:26:10,359 --> 00:26:13,360
Speaker 1: been saving literally hundreds of dollars a year using these

572
00:26:13,359 --> 00:26:16,080
Speaker 1: cell companies that use the same signals of the big

573
00:26:16,080 --> 00:26:19,960
Speaker 1: companies and offer essentially the same product. Plus, I've appreciated

574
00:26:19,960 --> 00:26:22,800
Speaker 1: owning my own phone out right without a contract and

575
00:26:22,880 --> 00:26:25,399
Speaker 1: having the freedom to switch carriers if I want to

576
00:26:25,520 --> 00:26:27,640
Speaker 1: at any time, just by swapping out my SIM card.

577
00:26:28,400 --> 00:26:31,400
Speaker 1: I pay seventy dollars a month for two lines unlimited talk,

578
00:26:31,440 --> 00:26:35,160
Speaker 1: text and data. But it seems like the plans and

579
00:26:35,560 --> 00:26:38,680
Speaker 1: pricing structures of cell companies across the board it's getting

580
00:26:38,960 --> 00:26:43,000
Speaker 1: more competitive. With five g rolling out. Knowing you guys

581
00:26:43,000 --> 00:26:45,160
Speaker 1: and how much you love to save money, I was wondering,

582
00:26:45,440 --> 00:26:49,000
Speaker 1: what are your cell phone plan considerations? And is it

583
00:26:49,080 --> 00:26:53,320
Speaker 1: still worth staying with a quote unquote budget operator with

584
00:26:53,480 --> 00:26:57,399
Speaker 1: this upgrade to five G. Thanks a lot for entertaining

585
00:26:57,480 --> 00:27:02,000
Speaker 1: my question, and I love beers. You should try wine sometime. Thanks.

586
00:27:02,640 --> 00:27:04,320
Speaker 1: Do you think so much of your question? And I'm

587
00:27:04,359 --> 00:27:07,399
Speaker 1: actually a pretty big fan of a nice bottle of wine,

588
00:27:07,520 --> 00:27:10,160
Speaker 1: although I'm actually intentionally trying to stay away from it,

589
00:27:10,560 --> 00:27:13,239
Speaker 1: because like, once you start developing a palette, then you

590
00:27:13,320 --> 00:27:15,720
Speaker 1: only want the good stuff. So, Matt, we're actually the

591
00:27:15,720 --> 00:27:17,320
Speaker 1: beer that we're having on the show today is a

592
00:27:17,320 --> 00:27:20,160
Speaker 1: Trader Joe's beer, h the two buck chuck Trader Joe's wine.

593
00:27:20,160 --> 00:27:22,520
Speaker 1: How you feel about that? I'm sure Dean would actually

594
00:27:22,520 --> 00:27:24,240
Speaker 1: probably shutter that I even mentioned it. I don't know

595
00:27:24,280 --> 00:27:26,160
Speaker 1: if that. Like I used to enjoy two buck Chucks,

596
00:27:26,160 --> 00:27:28,600
Speaker 1: so we used to live pretty close to it Trader Joe's.

597
00:27:28,640 --> 00:27:30,520
Speaker 1: But I feel like my tastes have evolved a little

598
00:27:30,520 --> 00:27:32,679
Speaker 1: bit and so it's difficult to to kind of go

599
00:27:32,760 --> 00:27:35,399
Speaker 1: back to two buck chuck level. But you know, like

600
00:27:35,400 --> 00:27:37,480
Speaker 1: a good tend twar bottle of wine. Like Kate and I,

601
00:27:37,560 --> 00:27:40,520
Speaker 1: we actually spent some time in Sonoma on a vacation,

602
00:27:40,600 --> 00:27:42,240
Speaker 1: and I feel like that was my first introduction to

603
00:27:42,320 --> 00:27:44,639
Speaker 1: some like really nice wines and plus dude, Like, one

604
00:27:44,680 --> 00:27:47,200
Speaker 1: of the things I love about wineries is like it's

605
00:27:47,200 --> 00:27:49,240
Speaker 1: out there in nature, you know. Like breweries, they ship

606
00:27:49,320 --> 00:27:51,119
Speaker 1: in all the ingredients and so you can have a

607
00:27:51,160 --> 00:27:53,960
Speaker 1: brewery anywhere, and typically they're in like old, run down

608
00:27:54,240 --> 00:27:56,720
Speaker 1: parts of town where there's just lots of space for

609
00:27:56,920 --> 00:28:01,200
Speaker 1: cheap But with wineries, I mean like they're on site

610
00:28:01,240 --> 00:28:03,320
Speaker 1: there where the grapes grow. And so every single one

611
00:28:03,359 --> 00:28:05,480
Speaker 1: ray we went to out in Sonoma and Napa, we're

612
00:28:05,600 --> 00:28:09,320
Speaker 1: so stink and beautiful. Hike around the well, yeah, like

613
00:28:09,320 --> 00:28:11,080
Speaker 1: a lot of them do have trails kind of marked

614
00:28:11,080 --> 00:28:14,080
Speaker 1: out over the you know, the acres there that aren't

615
00:28:14,080 --> 00:28:17,080
Speaker 1: being used for for grapes. It's beautiful. Uh, It's just

616
00:28:17,080 --> 00:28:19,200
Speaker 1: not something that I feel like I want to allow

617
00:28:19,240 --> 00:28:21,399
Speaker 1: myself to get into, you know, like sometimes you have

618
00:28:21,440 --> 00:28:23,680
Speaker 1: to kind of cap yourself at what you're willing to

619
00:28:23,920 --> 00:28:26,680
Speaker 1: spend money on. I can't have multiple craft beer equivalent.

620
00:28:27,359 --> 00:28:30,359
Speaker 1: It's like a forced ignorance essentially. Yeah, exactly when it

621
00:28:30,440 --> 00:28:31,560
Speaker 1: when it comes to the wine, I want to keep

622
00:28:31,600 --> 00:28:33,480
Speaker 1: my head in this hand at least, you know, for

623
00:28:33,520 --> 00:28:36,320
Speaker 1: the next foreseeable future, gotcha, gotcha. Yeah, I think that

624
00:28:36,359 --> 00:28:38,440
Speaker 1: makes sense. Well, let's talk about mb and os D

625
00:28:38,600 --> 00:28:40,800
Speaker 1: brought to shop and and yeah. They it stands for

626
00:28:41,280 --> 00:28:45,320
Speaker 1: Mobile virtual network Operator and mb and os are are

627
00:28:45,440 --> 00:28:49,400
Speaker 1: essentially cell phone companies that don't own cellphone towers. They

628
00:28:49,480 --> 00:28:51,920
Speaker 1: lease them from the bigger cell phone companies like A

629
00:28:52,000 --> 00:28:54,920
Speaker 1: T and T, T Mobile and Verizon and Dean. We're

630
00:28:54,960 --> 00:28:56,760
Speaker 1: glad that you've been saving money by going with an

631
00:28:56,840 --> 00:28:59,400
Speaker 1: mbn O. Honestly, because of the way things work with

632
00:28:59,520 --> 00:29:03,040
Speaker 1: cellphone providers now, mbn O s are are much better

633
00:29:03,080 --> 00:29:04,200
Speaker 1: than they used to be in the old days, and

634
00:29:04,240 --> 00:29:07,000
Speaker 1: they're almost always the best choice for people. And it's

635
00:29:07,040 --> 00:29:09,640
Speaker 1: going to like means ed cut their cell phone bill

636
00:29:10,000 --> 00:29:13,040
Speaker 1: in half or more by ditching a full service cell

637
00:29:13,040 --> 00:29:14,800
Speaker 1: phone company. One of the major ones that you see

638
00:29:15,040 --> 00:29:18,560
Speaker 1: advertising during sporting games and everything else. Right, um so

639
00:29:18,920 --> 00:29:20,440
Speaker 1: some of the popular ones. By the way, if you're

640
00:29:20,440 --> 00:29:24,920
Speaker 1: wondering what companies are, mb and OH, Mint, Visible Boost,

641
00:29:25,120 --> 00:29:27,400
Speaker 1: Google five, those are some of the most popular names

642
00:29:27,720 --> 00:29:29,880
Speaker 1: in the mb and oh space. And those are the

643
00:29:29,880 --> 00:29:31,360
Speaker 1: places that if you turn there and you go to

644
00:29:31,360 --> 00:29:33,239
Speaker 1: one of those companies, you're gonna save a whole lot

645
00:29:33,280 --> 00:29:35,800
Speaker 1: more by switching if you're still with one of those

646
00:29:35,800 --> 00:29:38,280
Speaker 1: bigger companies that we mentioned earlier. Yeah, and Dean, on

647
00:29:38,320 --> 00:29:41,040
Speaker 1: the topic of five G, uh, you know you're kind

648
00:29:41,040 --> 00:29:43,200
Speaker 1: of mentioning how that's being rolled out. Man, I don't

649
00:29:43,240 --> 00:29:46,080
Speaker 1: care about five G all that much. Honestly, Jill, I'm

650
00:29:46,080 --> 00:29:47,800
Speaker 1: pretty sure you feel the same way, like you recently

651
00:29:47,800 --> 00:29:50,480
Speaker 1: purchased a new phone that isn't five G compatible because

652
00:29:50,520 --> 00:29:52,560
Speaker 1: you don't even care. Yeah. Yeah, I got the Pixel

653
00:29:52,600 --> 00:29:54,720
Speaker 1: four A and the other option was to spend a

654
00:29:54,800 --> 00:29:56,960
Speaker 1: hundred fifty dollars more and get the Pixel four A

655
00:29:57,120 --> 00:29:59,600
Speaker 1: five G, and I was like, well, I just don't care.

656
00:29:59,680 --> 00:30:01,960
Speaker 1: And part of it was because from everything I've read

657
00:30:02,000 --> 00:30:04,360
Speaker 1: about five G service, at least now, it's not all

658
00:30:04,400 --> 00:30:06,840
Speaker 1: that impressive and an actuality. You might get a lower

659
00:30:06,880 --> 00:30:09,040
Speaker 1: speeds by switching to five G at this point in

660
00:30:09,080 --> 00:30:10,800
Speaker 1: time and a whole lot of areas. So is five

661
00:30:10,840 --> 00:30:14,760
Speaker 1: G the future, yes, But is it currently meaningful or

662
00:30:14,760 --> 00:30:17,680
Speaker 1: going to make a big impact on your download speeds

663
00:30:17,680 --> 00:30:19,960
Speaker 1: when you're out and about. Probably not, Yeah, exactly. I

664
00:30:20,000 --> 00:30:22,400
Speaker 1: think a big reason why five G is such a

665
00:30:22,400 --> 00:30:24,880
Speaker 1: big thing is because of marketing. Man, These cell phone

666
00:30:24,880 --> 00:30:27,040
Speaker 1: companies have done such a good job just hammering home

667
00:30:27,440 --> 00:30:29,520
Speaker 1: how important and how much five G is going to

668
00:30:29,640 --> 00:30:32,640
Speaker 1: change the world. They're even podcasts that are completely dedicated

669
00:30:32,840 --> 00:30:36,120
Speaker 1: to five G and not just individual episodes, entire shows.

670
00:30:36,600 --> 00:30:38,960
Speaker 1: It's like, what's going on here, you know? Um. But

671
00:30:39,040 --> 00:30:40,880
Speaker 1: also something else to keep in mind is that a

672
00:30:40,880 --> 00:30:43,400
Speaker 1: lot of these m D n O companies are offering

673
00:30:43,480 --> 00:30:46,360
Speaker 1: five G service just like the big providers. One of

674
00:30:46,360 --> 00:30:49,920
Speaker 1: our favorites, Mint is on the five G train, so

675
00:30:49,960 --> 00:30:52,240
Speaker 1: you don't actually have to go with a major cell

676
00:30:52,240 --> 00:30:54,720
Speaker 1: phone provider or even pay more for the five G

677
00:30:54,920 --> 00:30:57,920
Speaker 1: service if you're able to maybe score a decent deal

678
00:30:57,960 --> 00:31:00,200
Speaker 1: on a five G phone. But at the same time,

679
00:31:00,200 --> 00:31:02,680
Speaker 1: I wouldn't bend over backwards to get a new five

680
00:31:02,720 --> 00:31:06,120
Speaker 1: G phone when the technology is still in its infancy.

681
00:31:06,440 --> 00:31:08,160
Speaker 1: You know, that's something that you have control over. That

682
00:31:08,200 --> 00:31:10,920
Speaker 1: parts up to you. We are already seeing big discounts

683
00:31:10,920 --> 00:31:13,600
Speaker 1: and the devices, uh and pretty soon every new phone

684
00:31:13,680 --> 00:31:16,800
Speaker 1: will have five G capabilities. And so Dan, you're asking,

685
00:31:17,040 --> 00:31:18,479
Speaker 1: you know, if it's worth it to stick with these

686
00:31:18,520 --> 00:31:21,520
Speaker 1: discount providers, and in our opinion, it's most definitely worth

687
00:31:21,520 --> 00:31:24,720
Speaker 1: it to to hang onto your visible, your Google five Mint,

688
00:31:24,840 --> 00:31:27,120
Speaker 1: whoever it is. That you happen to be with. Yeah. Yeah,

689
00:31:27,120 --> 00:31:30,520
Speaker 1: even if they're capping their capabilities at four G, probably

690
00:31:30,560 --> 00:31:33,520
Speaker 1: still not worth it to switch unless you're just super

691
00:31:33,560 --> 00:31:36,040
Speaker 1: into technology. Um. But like you said, Matt, a lot

692
00:31:36,080 --> 00:31:38,080
Speaker 1: of these nbn O providers are starting to offer five

693
00:31:38,120 --> 00:31:41,120
Speaker 1: G anyway at no additional cost. All you need is

694
00:31:41,120 --> 00:31:43,360
Speaker 1: the compatible hardware. So Dean, hope that helps. Hope you

695
00:31:43,360 --> 00:31:45,560
Speaker 1: get five G and a reasonable price point. All right,

696
00:31:45,640 --> 00:31:47,320
Speaker 1: let's get to our last question of the day. This

697
00:31:47,360 --> 00:31:50,560
Speaker 1: one is about self employment taxes and then investing two

698
00:31:50,880 --> 00:31:54,360
Speaker 1: as a solo preneurs. Hey, how the money. I'm calling

699
00:31:54,400 --> 00:31:58,920
Speaker 1: from Denver, Colorado, and I just have some questions about

700
00:31:58,960 --> 00:32:03,960
Speaker 1: being self employed with my own LLC. UM. First question

701
00:32:04,400 --> 00:32:08,760
Speaker 1: is about paying taxes. I do pay quarterly taxes since

702
00:32:08,800 --> 00:32:12,080
Speaker 1: my work fluctuates quite a bit throughout the year. UM,

703
00:32:12,120 --> 00:32:14,800
Speaker 1: but I tend to always get fees at the end

704
00:32:14,840 --> 00:32:18,080
Speaker 1: of the year for under payment UM. And I'm wondering

705
00:32:18,120 --> 00:32:22,920
Speaker 1: if that's from under paying overall throughout the entire year,

706
00:32:23,080 --> 00:32:26,360
Speaker 1: or if I need to be accurate quartered a quarter

707
00:32:26,600 --> 00:32:29,320
Speaker 1: and have them be equal to each other. Um. And

708
00:32:29,360 --> 00:32:32,880
Speaker 1: if that's the case, how do I account for a

709
00:32:33,000 --> 00:32:35,840
Speaker 1: big jump in sales at the end of the year.

710
00:32:36,880 --> 00:32:40,040
Speaker 1: My second question is about setting up a retirement account

711
00:32:40,720 --> 00:32:43,400
Speaker 1: and whether I should fund it through my business or

712
00:32:43,440 --> 00:32:46,640
Speaker 1: if I should fund it through my personal account or

713
00:32:46,720 --> 00:32:49,920
Speaker 1: maybe both. Thanks guys. She didn't say her name, but

714
00:32:49,960 --> 00:32:52,400
Speaker 1: that question was from Amber. Amber, thank you so much

715
00:32:52,400 --> 00:32:55,880
Speaker 1: for your question. We we appreciate that. Uh, let's get

716
00:32:55,920 --> 00:32:58,200
Speaker 1: your question about tax right. So you know in your question,

717
00:32:58,240 --> 00:33:01,320
Speaker 1: even though you mentioned your LLC, you know, I think

718
00:33:01,320 --> 00:33:04,920
Speaker 1: you're asking about your personal quarterly estimates. But either way, yeah,

719
00:33:05,320 --> 00:33:07,840
Speaker 1: it sucks getting hit with a penalty come tax season

720
00:33:08,160 --> 00:33:10,880
Speaker 1: if you've underpaid for the previous year. By the way,

721
00:33:11,000 --> 00:33:13,480
Speaker 1: if this is your first time making this mistake, Matt,

722
00:33:13,520 --> 00:33:15,160
Speaker 1: you can write a letter to the I R S

723
00:33:15,280 --> 00:33:18,320
Speaker 1: asking for forgiveness of that penalty, claiming your ignorance, and

724
00:33:18,320 --> 00:33:20,480
Speaker 1: you can see what happens. Oftentimes they actually will um

725
00:33:20,640 --> 00:33:22,360
Speaker 1: not make you pay the penalty if they get back

726
00:33:22,360 --> 00:33:24,280
Speaker 1: to you at all. That's a good point. They're not

727
00:33:24,280 --> 00:33:26,600
Speaker 1: really responding to people, right. But you know, a way

728
00:33:26,640 --> 00:33:30,080
Speaker 1: to ensure Amber that you're making accurate estimates is to

729
00:33:30,200 --> 00:33:34,360
Speaker 1: calculate your effective tax rate and assuming your income this

730
00:33:34,440 --> 00:33:37,000
Speaker 1: year is similar to last year, a super simple way

731
00:33:37,160 --> 00:33:39,320
Speaker 1: is to take the total taxes you paid last year

732
00:33:39,640 --> 00:33:42,520
Speaker 1: and divide that by your taxable income. That will give

733
00:33:42,560 --> 00:33:45,200
Speaker 1: you your effective tax rate, or another way you can

734
00:33:45,200 --> 00:33:47,320
Speaker 1: think about it is that's your average tax rate. And

735
00:33:47,360 --> 00:33:49,440
Speaker 1: so for example, if you made seventy five thousand last

736
00:33:49,480 --> 00:33:51,920
Speaker 1: year and you ended up paying a total of twelve

737
00:33:51,920 --> 00:33:55,360
Speaker 1: thousand dollars in taxes, UH, then twelve thousand divided by

738
00:33:55,520 --> 00:33:59,480
Speaker 1: seventy five thousand gives you a six tax rate. And

739
00:33:59,520 --> 00:34:01,880
Speaker 1: so every quarter of this year, what you would do

740
00:34:01,960 --> 00:34:05,000
Speaker 1: is you would have wanted to make quarterly estimates of

741
00:34:05,160 --> 00:34:08,040
Speaker 1: six of your income. And so this means that by

742
00:34:08,040 --> 00:34:09,720
Speaker 1: the end of the year, you'll have paid the proper

743
00:34:09,760 --> 00:34:11,800
Speaker 1: amount UH and you should, you know, be able to

744
00:34:11,840 --> 00:34:15,080
Speaker 1: avoid any penalties. Granted, I'm not a tax professional, but

745
00:34:15,239 --> 00:34:17,319
Speaker 1: that is how I've done it, and it's a really

746
00:34:17,360 --> 00:34:20,400
Speaker 1: easy way for you to go about calculating your effective

747
00:34:20,400 --> 00:34:22,960
Speaker 1: tax rate. I've done that for years now without any issues.

748
00:34:23,160 --> 00:34:25,840
Speaker 1: But you know, often we discuss how it's not necessary

749
00:34:25,880 --> 00:34:29,279
Speaker 1: to hire a professional in particularly when it comes to investing. UH.

750
00:34:29,320 --> 00:34:32,200
Speaker 1: There's not a lot of moving parts, nothing often changes

751
00:34:32,239 --> 00:34:34,440
Speaker 1: all that much. But when it comes to your taxes,

752
00:34:34,880 --> 00:34:36,959
Speaker 1: that is an area that Joel and I both feel

753
00:34:37,000 --> 00:34:40,600
Speaker 1: that it's worth paying for a tax professional. The tax

754
00:34:40,680 --> 00:34:43,920
Speaker 1: laws are often changing year to year. Uh and oftentimes

755
00:34:43,960 --> 00:34:46,560
Speaker 1: do they can find deductions and things that you didn't

756
00:34:46,560 --> 00:34:49,160
Speaker 1: know existed. In that way, paying for a tax professional

757
00:34:49,560 --> 00:34:52,080
Speaker 1: would not only cover the cost of of that individual,

758
00:34:52,080 --> 00:34:53,919
Speaker 1: but you can even come out ahead by paying less

759
00:34:53,960 --> 00:34:56,760
Speaker 1: taxes overall. Yeah, not a whole lot of moving parts,

760
00:34:56,880 --> 00:34:59,040
Speaker 1: like you said in the retirement arena, but in the

761
00:34:59,080 --> 00:35:01,360
Speaker 1: tax arena, a lot of moving parts. There are a

762
00:35:01,360 --> 00:35:04,120
Speaker 1: lot of things that are just a lot more difficult

763
00:35:04,120 --> 00:35:06,360
Speaker 1: to figure out. And I think the more complicated somebody's

764
00:35:06,360 --> 00:35:09,719
Speaker 1: situation is, the more likely they should consider hiring a

765
00:35:09,719 --> 00:35:12,520
Speaker 1: tax professional in particular. So, yeah, Amber, hope that helps.

766
00:35:12,560 --> 00:35:15,000
Speaker 1: But let's get onto the retirement math. The fewer moving parts,

767
00:35:15,160 --> 00:35:17,600
Speaker 1: but actually there are more moving parts. When you're talking

768
00:35:17,600 --> 00:35:22,080
Speaker 1: about solo preneurs investing for retirement, then you are if you,

769
00:35:22,080 --> 00:35:24,640
Speaker 1: you know, work a traditional nine to five for an

770
00:35:24,640 --> 00:35:27,160
Speaker 1: employer and you've got something akin to a four oh

771
00:35:27,239 --> 00:35:29,279
Speaker 1: one K that you're offered to work. But the good

772
00:35:29,280 --> 00:35:32,240
Speaker 1: thing is it self employed business owners still have access

773
00:35:32,280 --> 00:35:35,279
Speaker 1: to a traditional or roth ira. That is, if they

774
00:35:35,400 --> 00:35:39,000
Speaker 1: meet the income requirements, and I think Amber, we'd initially

775
00:35:39,000 --> 00:35:41,400
Speaker 1: like to see you contribute to a RATH. It's also

776
00:35:41,760 --> 00:35:44,560
Speaker 1: the least complex option, which is nice. But if you

777
00:35:44,600 --> 00:35:46,640
Speaker 1: have more than six thousand dollars that you want to invest,

778
00:35:46,640 --> 00:35:48,680
Speaker 1: because that's the cap that you can put into a

779
00:35:48,760 --> 00:35:51,360
Speaker 1: roth IRA every year, let's talk about what some of

780
00:35:51,400 --> 00:35:54,319
Speaker 1: your other best options are too. Um, they do get

781
00:35:54,360 --> 00:35:57,239
Speaker 1: a touch complex. And Amber, we're assuming you don't have

782
00:35:57,280 --> 00:35:59,719
Speaker 1: any employees, and if that's the case, a solo for

783
00:36:00,040 --> 00:36:03,040
Speaker 1: one K is often the best option. It offers the

784
00:36:03,080 --> 00:36:05,400
Speaker 1: most flexibility for you to be able to contribute a

785
00:36:05,520 --> 00:36:08,080
Speaker 1: huge chunk of your own personal income and then also

786
00:36:08,360 --> 00:36:12,279
Speaker 1: have your business do profit sharing to contribute a boatload more.

787
00:36:12,760 --> 00:36:15,359
Speaker 1: If you're a gung ho investor and business owner, then

788
00:36:15,400 --> 00:36:17,920
Speaker 1: the solo four one K is a fantastic option and

789
00:36:17,960 --> 00:36:20,840
Speaker 1: you can contribute up to a maximum of fifty seven

790
00:36:20,840 --> 00:36:24,279
Speaker 1: thousand dollars a year, which is quite a lot. If

791
00:36:24,280 --> 00:36:27,160
Speaker 1: you're into being a super saver, you want to invest

792
00:36:27,160 --> 00:36:29,360
Speaker 1: a ton of your money, Uh, the solo four one

793
00:36:29,440 --> 00:36:32,120
Speaker 1: K is a great option to help you get there. Yeah. Really,

794
00:36:32,120 --> 00:36:34,680
Speaker 1: the biggest difference between investing in either it's something like

795
00:36:35,239 --> 00:36:38,080
Speaker 1: a roth ira A or traditional ira A versus something

796
00:36:38,120 --> 00:36:41,719
Speaker 1: that includes your business amber. It really does come down

797
00:36:41,760 --> 00:36:43,960
Speaker 1: to the amount that you're wanting to invest. And so

798
00:36:44,000 --> 00:36:46,840
Speaker 1: if you're if you're looking at stick into the limits

799
00:36:47,040 --> 00:36:49,520
Speaker 1: at around six thousand dollars and we would recommend something

800
00:36:49,840 --> 00:36:52,000
Speaker 1: that's easier to manage. But if you yeah, if you're

801
00:36:52,040 --> 00:36:53,759
Speaker 1: like Joel said, a gung Ho investor, if you're looking

802
00:36:53,760 --> 00:36:56,920
Speaker 1: to go crazy with your investing and setting aside a

803
00:36:56,960 --> 00:36:59,240
Speaker 1: large amount of money. If if you're earning a lot,

804
00:36:59,400 --> 00:37:01,680
Speaker 1: then definitely can do a solo four one k even

805
00:37:01,680 --> 00:37:04,239
Speaker 1: a sep ira A might be a good option for you. There,

806
00:37:04,719 --> 00:37:07,280
Speaker 1: we'll put a link to an article from nerd wallet

807
00:37:07,320 --> 00:37:10,040
Speaker 1: that describes that the pros and cons of both of

808
00:37:10,040 --> 00:37:14,080
Speaker 1: those different accounts, um you know, four particular business setups

809
00:37:14,120 --> 00:37:16,480
Speaker 1: because they can get it a little complicated, uh, And

810
00:37:16,480 --> 00:37:18,600
Speaker 1: we'll lost a link to some of our favorite places

811
00:37:18,680 --> 00:37:21,359
Speaker 1: to open up one of these accounts, and of course

812
00:37:21,400 --> 00:37:24,680
Speaker 1: it's gonna be the low cost companies like Vanguard, schwab

813
00:37:25,160 --> 00:37:27,560
Speaker 1: Uh and Fidelity. They are all of our favorites. You're

814
00:37:27,560 --> 00:37:30,000
Speaker 1: gonna have a lot of options there for something like

815
00:37:30,040 --> 00:37:32,040
Speaker 1: a roth ira but also to for some of those

816
00:37:32,040 --> 00:37:34,840
Speaker 1: business options as well. Okay, you can do either or

817
00:37:34,880 --> 00:37:38,000
Speaker 1: both with any of those companies, and that's a great

818
00:37:38,000 --> 00:37:39,960
Speaker 1: place to get started. But amber best of luck in

819
00:37:40,000 --> 00:37:42,920
Speaker 1: getting those taxes straight and in investing for retirement in

820
00:37:43,000 --> 00:37:45,200
Speaker 1: one of these vehicles. Yeah, and hopefully we're able to

821
00:37:45,200 --> 00:37:47,319
Speaker 1: get you pointed in the right direction. Uh. And you know,

822
00:37:47,320 --> 00:37:49,399
Speaker 1: when it comes to the taxes, there's still time. We're

823
00:37:49,400 --> 00:37:51,160
Speaker 1: at the end of December now, but you still have

824
00:37:51,280 --> 00:37:55,640
Speaker 1: until January of next year to get that fourth quarterly

825
00:37:55,800 --> 00:37:58,160
Speaker 1: estimate in. And if you know that you've underpaid up

826
00:37:58,200 --> 00:38:00,160
Speaker 1: until this point, now is your chance to make that

827
00:38:00,200 --> 00:38:02,520
Speaker 1: difference to to make sure that you avoid that penalty

828
00:38:02,840 --> 00:38:05,279
Speaker 1: once you file and submit your returns. Hey, you can

829
00:38:05,320 --> 00:38:08,000
Speaker 1: make up for lost time by paying a little bit

830
00:38:08,000 --> 00:38:10,800
Speaker 1: extra to cover up for those other quarters were you underpaid.

831
00:38:11,000 --> 00:38:12,960
Speaker 1: All right, Matt, Let's get back to the beer that

832
00:38:13,000 --> 00:38:15,120
Speaker 1: we had on the show today. This one is Trader

833
00:38:15,200 --> 00:38:19,680
Speaker 1: Joe's Vintage Spicetale. This is edition, of course, and I

834
00:38:19,719 --> 00:38:21,800
Speaker 1: want to know what are your thoughts on this beer

835
00:38:21,800 --> 00:38:25,040
Speaker 1: that Trader Joe's releases every year. It's a true Belgian style.

836
00:38:25,040 --> 00:38:26,840
Speaker 1: What's your take on this one? Man, this is pretty

837
00:38:26,920 --> 00:38:28,560
Speaker 1: dang tasty. I'm glad that you and I are drinking

838
00:38:28,560 --> 00:38:30,160
Speaker 1: of Belgian. I feel like this is a style that

839
00:38:30,239 --> 00:38:32,000
Speaker 1: you and I that we don't drink all that often.

840
00:38:32,160 --> 00:38:34,200
Speaker 1: You know, we were actually before we started recording, we're

841
00:38:34,200 --> 00:38:36,680
Speaker 1: both talking about how you and I we both got

842
00:38:36,719 --> 00:38:41,960
Speaker 1: into craft beer via Belgian beers. Yeah, because like before that, uh,

843
00:38:42,000 --> 00:38:44,640
Speaker 1: you know, as recent twenty one year olds, all we

844
00:38:44,680 --> 00:38:47,120
Speaker 1: had had to drink. We're just kind of like American

845
00:38:47,600 --> 00:38:52,600
Speaker 1: mass produced loggers, right, the bloodlines, the PBRs, Yeah exactly.

846
00:38:52,800 --> 00:38:55,040
Speaker 1: But specifically our induction to the Belgian beers was this

847
00:38:55,120 --> 00:38:59,399
Speaker 1: amazing bar indicator, uh called Brick Store Pub and they

848
00:38:59,440 --> 00:39:03,280
Speaker 1: special eyes in Belgian beers. They've got uh some amazing

849
00:39:03,280 --> 00:39:05,520
Speaker 1: stuff on draft. That certainly kind of takes me back

850
00:39:05,560 --> 00:39:07,400
Speaker 1: to some of those days when I was first learning

851
00:39:07,440 --> 00:39:10,560
Speaker 1: about like what is a Belgian single, what's a do belle,

852
00:39:10,680 --> 00:39:13,400
Speaker 1: what's trappelle? You know, what's a quad? Learning about all

853
00:39:13,400 --> 00:39:15,239
Speaker 1: these different types of beers, starting to nerd out a

854
00:39:15,239 --> 00:39:17,400
Speaker 1: little bit. But yeah, this was almost like a throwback

855
00:39:17,440 --> 00:39:19,759
Speaker 1: beer for me. But yeah, what were your thoughts on it? Yeah? Man,

856
00:39:19,800 --> 00:39:22,239
Speaker 1: I do love a good Belgian beer for sure, and

857
00:39:22,360 --> 00:39:25,040
Speaker 1: a quad. It's probably my favorite. It's like the deepest,

858
00:39:25,040 --> 00:39:28,200
Speaker 1: the richest, the darkest, and it's like the stout version

859
00:39:28,239 --> 00:39:30,359
Speaker 1: of the Belgian beer. Yeah, yeah, exactly. And yeah, this

860
00:39:30,400 --> 00:39:32,560
Speaker 1: one had um that going on. It was kind of

861
00:39:32,560 --> 00:39:36,240
Speaker 1: felt like a lighthearted quad with some winter spices tossed

862
00:39:36,239 --> 00:39:38,960
Speaker 1: in there. So, I mean, it just feels like the

863
00:39:39,000 --> 00:39:41,640
Speaker 1: perfect time to be drinking this right at the very

864
00:39:41,760 --> 00:39:47,200
Speaker 1: end of a nice throwback beer with some delicious festive flavors. Um.

865
00:39:47,200 --> 00:39:49,040
Speaker 1: I really like this beer, man, and I feel like

866
00:39:49,080 --> 00:39:51,160
Speaker 1: Trader Joe's in partnership with I don't know how you

867
00:39:51,160 --> 00:39:53,479
Speaker 1: pronounced it. I always want to say Uni brow. Uh,

868
00:39:54,800 --> 00:39:56,759
Speaker 1: I guess it's Uni brew or something Uni brow like

869
00:39:56,840 --> 00:40:01,680
Speaker 1: Hugh Atchison, So I don't know if actually pronounced, but

870
00:40:01,880 --> 00:40:04,439
Speaker 1: we'll go with Uni brown just for fun. But um yeah,

871
00:40:04,480 --> 00:40:06,640
Speaker 1: they they always knocking out of the park with this one,

872
00:40:06,719 --> 00:40:09,000
Speaker 1: and it's uh, it's something I look forward to every year. Yeah,

873
00:40:09,000 --> 00:40:11,359
Speaker 1: it reminded me of my grandma used to always make

874
00:40:11,480 --> 00:40:13,880
Speaker 1: this brown bread, which was kind of like this molasses

875
00:40:13,920 --> 00:40:16,560
Speaker 1: based bread that she would make in an old coffee can.

876
00:40:16,680 --> 00:40:18,040
Speaker 1: So it kind of had like the you know, the

877
00:40:18,200 --> 00:40:20,239
Speaker 1: ridges in it. From the can. It's like an old

878
00:40:20,239 --> 00:40:23,719
Speaker 1: school type of bread. But yeah, molasses kind of had

879
00:40:23,719 --> 00:40:25,719
Speaker 1: this pepper reaction going on and almost had like a

880
00:40:25,760 --> 00:40:28,200
Speaker 1: little bit of that Belgian banana flavor as well some

881
00:40:28,280 --> 00:40:30,879
Speaker 1: of that fruit. But definitely a delicious beer. I'm glad

882
00:40:30,880 --> 00:40:32,839
Speaker 1: this is one that you picked up at Trader Joe's, which,

883
00:40:32,960 --> 00:40:34,440
Speaker 1: by the way, why are you a Trader Joe's, Like

884
00:40:34,480 --> 00:40:38,520
Speaker 1: you're always either at Costco or Aldi? Yeah? Sometimes right,

885
00:40:38,680 --> 00:40:41,280
Speaker 1: my wife wanted some specialty tea there, so I wanted

886
00:40:41,320 --> 00:40:43,520
Speaker 1: to grab that fur. But also Trader joe is a

887
00:40:43,520 --> 00:40:46,120
Speaker 1: great place to grab flowers. It's a great great place

888
00:40:46,120 --> 00:40:49,319
Speaker 1: to grab creating cards for people or birthday cards. They're

889
00:40:49,400 --> 00:40:51,279
Speaker 1: super tea, right, we've talked about We've talked about the

890
00:40:51,280 --> 00:40:53,239
Speaker 1: birthday cards before. They Yeah, they got the one dollar

891
00:40:53,280 --> 00:40:55,759
Speaker 1: birthday cards. They're very well made, they're very classy. Um.

892
00:40:55,800 --> 00:40:57,759
Speaker 1: A few other things too. Some of their prepackaged goods

893
00:40:57,800 --> 00:41:00,319
Speaker 1: are actually actually pretty good. So um. Yeah, I like

894
00:41:00,360 --> 00:41:02,520
Speaker 1: going to Trader Joe's on occasion. I don't make it

895
00:41:02,560 --> 00:41:05,279
Speaker 1: there very often. Um, but definitely every winner for this one.

896
00:41:05,320 --> 00:41:07,680
Speaker 1: You get to the one by people in park Yeah. Nice. Yeah,

897
00:41:07,719 --> 00:41:09,439
Speaker 1: So Kate and I used to live, you know, way

898
00:41:09,440 --> 00:41:10,680
Speaker 1: back in the day. We used to live by the

899
00:41:10,680 --> 00:41:13,319
Speaker 1: one in Buckhead, but no longer, and so because of that,

900
00:41:13,360 --> 00:41:17,480
Speaker 1: we never go to Trader Joe's aldi for life. Baby Alright,

901
00:41:17,480 --> 00:41:19,240
Speaker 1: Listeners can find our show notes up on our website

902
00:41:19,280 --> 00:41:21,000
Speaker 1: at how to money dot com. Will make sure to

903
00:41:21,080 --> 00:41:23,160
Speaker 1: link to any of the resources that we may have

904
00:41:23,239 --> 00:41:25,920
Speaker 1: mentioned during this episode. Yeah, and please make sure to

905
00:41:25,960 --> 00:41:28,239
Speaker 1: tune into Wednesday's episode. It's gonna be a really fun

906
00:41:28,360 --> 00:41:31,719
Speaker 1: year end episode celebrating the listener wins from the community.

907
00:41:31,880 --> 00:41:34,399
Speaker 1: A lot of our listeners sent in their listener wins.

908
00:41:34,400 --> 00:41:36,399
Speaker 1: It's gonna be a super fun episode. We we really

909
00:41:36,400 --> 00:41:38,120
Speaker 1: look forward to it, and so we'll see you back

910
00:41:38,120 --> 00:41:41,200
Speaker 1: here then, all right, Matt, until next time, Best Friends Out,

911
00:41:41,200 --> 00:41:42,239
Speaker 1: Best Friends Out.