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Speaker 1: Welcome to how to Money. I'm Joel, I am Matt.

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Speaker 1: Today we're gonna answer your listener questions.

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Speaker 2: Yeah we are.

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Speaker 1: We've got listener questions to get to. Indeed, my friend,

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Speaker 1: we're gonna talk about the best way to give some

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Speaker 1: money to some kids. These are kids, even if they're

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Speaker 1: like not even your own kids. The best way to

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Speaker 1: give them money.

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Speaker 3: He just handed out money in the streets to all

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Speaker 3: the children's you, uh, like Saint Nick but early stuff it.

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Speaker 1: In like a little stuffed animal and hand it to

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Speaker 1: them and it's a surprise later. Uh No, we're gonna

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Speaker 1: talk about that. We'll talk about uh oh, we'll kind

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Speaker 1: of like venture into some health bro territory. Perhaps a

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Speaker 1: listener's asking about affordable protein. He's looking to get yoked

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Speaker 1: on the cheap, So we'll share at least a bulky

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Speaker 1: our our personal experience with that. And five twenty nine

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Speaker 1: account it's we'll talk about paying for for education, not

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Speaker 1: just higher ED, but there's some other options out.

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Speaker 4: There for folks.

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Speaker 1: We'll get to those, plus a couple.

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Speaker 3: More more flexible five twenty nine accounts, which is a

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Speaker 3: good thing. And more flex yeah, so parents have more

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Speaker 3: more choice over what they do with that money.

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Speaker 1: We're talking all about flexing today. Hey, real quick, maybe

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Speaker 1: let's take a moment to hate, not to hate, maybe

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Speaker 1: to throw a little shade towards a company that we

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Speaker 1: are not big fans of, and that company would be Uber.

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Speaker 1: And not because I've used Uber I love. I'm god

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Speaker 1: they exist. Not because of the fact that they can

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Speaker 1: pick you up in a pinch, take you somewhere, take

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Speaker 1: you to the airport. We are still a one car family.

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Speaker 1: So I've got the lift and the Uber app ready

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Speaker 1: to go. I always there on my phone, man, I always.

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Speaker 3: Check them both because the price disparity can be sie maybeah,

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Speaker 3: of course.

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Speaker 1: But specifically, dude, I want to call out Uber Eats

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Speaker 1: And have you seen this? So I saw this on streaming.

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Speaker 1: We watched a movie with the kids over the weekend

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Speaker 1: and there is this Uber eats adtisement on TV with

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Speaker 1: Michael Sarah. You know the one I'm talking about that

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Speaker 1: he says, Sarrah. Is it Sarrah or Sarah Michael Sarah?

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Speaker 1: Michael Surra, I don't know, Okay, I say it like

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Speaker 1: the wine.

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Speaker 3: So he's a Sarah if you like the show Arrested Development.

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Speaker 3: He was young George Michael in that show. Also that's

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Speaker 3: a character also super Bade Juno.

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Speaker 1: I feel like was that that was like that was

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Speaker 1: like his own yeah, original Michael Sarah. Anyway, you know

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Speaker 1: who we're talking about, Like, he's the awkward, self conscious character,

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Speaker 1: not alike. It's like he's like sixteen, even though he's

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Speaker 1: probably thirty five. It's probably like forty five. I don't

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Speaker 1: know at this point specifically though it's it's an advertisement.

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Speaker 1: He's had a pool party. He's standing there, he's kind

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Speaker 1: of got like the lounge word and he it's an

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Speaker 1: inner dialogue and he's like, oh no, this is like

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Speaker 1: one of those get in the pool pool parties. And

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Speaker 1: I'm gonna throw some shade towards Uber Eats because the

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Speaker 1: ad of course shows him pulling on his phone. He

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Speaker 1: doesn't want to talk to anybody, and he goes to

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Speaker 1: the app, orders food and magically appears and he's like

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Speaker 1: munching on a chip. He's like small bites, small bites,

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Speaker 1: you know, so he doesn't have to so he doesn't

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Speaker 1: run out of food. And of course I don't like

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Speaker 1: this because it's a budget killer man like this, we

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Speaker 1: talk about Uber Eats eating out in general, just how

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Speaker 1: it destroys your budget. But so of course I'm not

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Speaker 1: a fan of that. But in addition to that, just

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Speaker 1: the cultural lessons that is trying to teach her. It's like, hey,

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Speaker 1: you're feeling a little awkward, a little uncomfortable, and instead

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Speaker 1: of maybe stepping out of your comfort zone and talking

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Speaker 1: to someone new, maybe perhaps even getting in the pool,

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Speaker 1: who knows, pull out your device. It's anti social. You're

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Speaker 1: not talking to anybody, and not only pull out your device,

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Speaker 1: but consume, Like literally you're spending money that maybe you

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Speaker 1: don't even need to need to spend, and you're literally

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Speaker 1: consuming well maybe you don't you're not even hungry, like

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Speaker 1: on so many accounts, this thing I like. I literally

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Speaker 1: looked over to Kate and I said, I really don't

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Speaker 1: like this ad. She's like, huh. I kind of started

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Speaker 1: to I guess explain just like I am now. But

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Speaker 1: I don't know if this is me being like too

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Speaker 1: much of a try hard or something where like I

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Speaker 1: want people to interact with each other, you know, like engage,

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Speaker 1: be a part of the world that you're in and

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Speaker 1: not just retreat when you feel uncomfortable. Is my little

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Speaker 1: yet again old man yelling out the sky.

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Speaker 3: Sort I get what you're saying, and I do think

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Speaker 3: that some people might be like Okay, Boom or Matt,

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Speaker 3: but no, I think it's a good point. I think

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Speaker 3: it's well taken. And I think that we turn often

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Speaker 3: to our devices or to consumption to soothe something else

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Speaker 3: that is going on inside, and I think that's just

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Speaker 3: a modern reality.

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Speaker 1: For nothing wrong with devices. We were literally just talking

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Speaker 1: about the new iPhone right before we hit record, because

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Speaker 1: we're just talking about technology and how great it is,

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Speaker 1: like just the images that you can pictures you can take.

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Speaker 3: I'm not buying it, but no, no, no, talk about that

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Speaker 3: some other time, but it's it's just a good reminder,

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Speaker 3: right to not let the device or the consumption be

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Speaker 3: the thing, because it can get out of control really quickly.

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Speaker 3: It can lead to financial problems, which can create even

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Speaker 3: more anxiety in the future. And the more we can

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Speaker 3: kind of figure out what's going on inside of me

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Speaker 3: right now, as I'm at this whole party and I'm

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Speaker 3: feeling uncomfortable, instead of turning towards a.

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Speaker 1: Purchase, leaning into the discomfort, leaning into like seeing it

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Speaker 1: as a challenging to grow, Like I don't know, I

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Speaker 1: really do feel like this is maybe coming out because

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Speaker 1: like we've got young kids and we are trying to

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Speaker 1: encourage them, and then you see something like that that's

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Speaker 1: telling them the exact opposite lesson, right, I know, man,

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Speaker 1: it really gets on my nerves, gets under my skin.

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Speaker 1: But it would also be different if he had placed

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Speaker 1: an order and he's like sharing it with everyone and

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Speaker 1: it's like, so no, you know, if you're using it

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Speaker 1: in that way, it's just like, oh, yeah, you want

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Speaker 1: to contribute to the party. Share, You're not bring the dish,

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Speaker 1: let me get something in there. Okay, you're paying for convenience,

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Speaker 1: but at least it's the I guess the anti social

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Speaker 1: part of it is maybe what got on my nerves.

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Speaker 1: If you're sharing it, then that feels slightly more productive.

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Speaker 1: Then I guess the whole Michael Sarah sort of awkward

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Speaker 1: awkward bit wouldn't work as well, it wouldn't, but like

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Speaker 1: that's the whole point. I get it. I get it,

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Speaker 1: all right. Well, if uber Eat reaches out to ask

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Speaker 1: you to be part of their marketing, be curious to.

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Speaker 2: Do it.

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Speaker 3: All right, let's mention the beer we're having on this

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Speaker 3: episode matter. It's called north Woods Life Golden Ail. We

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Speaker 3: haven't had a goldennail a long time, so give our

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Speaker 3: thoughts on this one at the end of the episode.

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Speaker 3: And if you have a money question, we'd love to

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Speaker 3: hear from you, even if it's a little off the

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Speaker 3: beaten path, like our first question is going to be

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Speaker 3: send it our way. You go to how to money

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Speaker 3: dot com, slash ask, or literally just record a voice

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Speaker 3: memo on the app of your phone, email it to us,

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Speaker 3: super simple. Hopefully we can take it next week on

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Speaker 3: the show. Our first question this week comes from a

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Speaker 3: listener who has questions about his health and his spending.

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Speaker 5: Hi guys, my name is Clint from Paula, Iowa. I'm

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Speaker 5: thirty nine, a foundry worker, married with two kids, and

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Speaker 5: I'm going to money gear number seven my wife and

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Speaker 5: I is craft beer equivalent is vehicles. We have seven vehicles.

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Speaker 5: How can we possibly have seven vehicles? You might wonder, Well,

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Speaker 5: my car, my wife's work car, nice family car, truck, camper, Camaro, motorcycle.

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Speaker 5: All vehicles are paid for and I don't get rid

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Speaker 5: of anything until it no longer functions, and any future

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Speaker 5: purchases would be in cash. Onto my question, I've been

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Speaker 5: eating better and doing light exercise. I've been drinking a

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Speaker 5: protein shake in the morning and it last me until

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Speaker 5: I get off work. They are the ones from Sam's Club,

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Speaker 5: the member Mark members Mark ones had a dollar fifty

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Speaker 5: ath serving. It isn't too bad. I'm trying to decide

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Speaker 5: whether to up my game or not and get a

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Speaker 5: better product with more natural ingredients. I don't know if

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Speaker 5: the more expensive ones are worth it or if it's

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Speaker 5: just marketing. Do you guys recommend any quick, easy protein

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Speaker 5: options for at work that you guys use. Thanks have

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Speaker 5: a great day and thanks for all the great content

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Speaker 5: that you guys put out.

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Speaker 4: Matt.

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Speaker 1: If my car breaks down, I know who I'm calling

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Speaker 1: to borrow one from. Clint? Would you borrow his camper

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Speaker 1: or his He said he had a motorcycle too, Camaro.

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Speaker 1: Maybe I don't know that sounds nice. Yeah, I was

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Speaker 1: like those twenty eight Clint. I'll say, having seven vehicles

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Speaker 1: like that, it's totally legit. But he said he's specifically

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Speaker 1: a money year number seven. So I'm gonna say more

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Speaker 1: power to you. You do what you like.

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Speaker 3: Yeah, I love that no judgment when you've put in

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Speaker 3: the work and you're using joy free of guilt, right,

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Speaker 3: your your.

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Speaker 1: Craft be equivalent. Yeah, And the fact that he is

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Speaker 1: buying those cars in cash. So the fact is he's

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Speaker 1: he's basically doing better than most folks who just have

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Speaker 1: like one or two cars. Right, he's got seven cars. Yeah,

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Speaker 1: I'm totally fine with it. And he knows different to

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Speaker 1: being out I don't know, he's what do you think

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Speaker 1: he's like out in the Midwest Iowa? In my mind,

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Speaker 1: you picture on one hand, a very expensive garage with

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Speaker 1: seven cars. That's like, that's hard to maintain. Sure, Versus

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Speaker 1: if you are out west, you probably have more land,

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Speaker 1: You've got property. Maybe you've got like this big affordable

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Speaker 1: metal outbuilding. Yeah, like a like an affordable garage, and

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Speaker 1: you're like, yeah, I keep the spare vehicles in there

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Speaker 1: because it's cost effective to hang onto this.

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Speaker 3: Maybe you leave mountain the elements, some of them cover

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Speaker 3: them with a tarp. I mean some people do that, right,

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Speaker 3: So but yeah, I think when you when you own

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Speaker 3: them debt free, and when you realize, hey, this this

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Speaker 3: is the thing I spend money on, is like there's

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Speaker 3: no shame in that game. Is if you're not going

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Speaker 3: into significant amounts of debt port and he's like, I'm

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Speaker 3: if it ain't broke, don't fix it. I'm not replacing

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Speaker 3: it too, which I love. So Clint, you got a

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Speaker 3: good mentality on that, man. And even if that that's

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Speaker 3: not our thing, we can understand that it's yours and

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Speaker 3: appreciate that. And i'd say two, congrats on making all

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Speaker 3: these moves here. Physical health, I think you know more, exercise,

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Speaker 3: better eating. Those are those are two pillars of making

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Speaker 3: progress on that front. I have done one of those things, Matt.

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Speaker 3: I'm exercising more, eating differently.

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Speaker 1: I've made small changes, but I've not made significant changes

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Speaker 1: on that front. There's still a little more credit. You

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Speaker 1: still eating the barbecue in the mac and cheese. Yes, yes,

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Speaker 1: I am. Those are good for you. It depends on

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Speaker 1: what if you're, hey, Barbie ca uploading before a race.

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Speaker 1: I guess barbecue and that's protein right there. You got

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Speaker 1: the meat, so but I sausty lathering it slathering.

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Speaker 3: Yeah, probably probably some bit decent bit so yeah, maybe don't.

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Speaker 3: I don't know that either of us have perfectly formed

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Speaker 3: that we're not we're not anti human on this, but you, Matt,

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Speaker 3: you've made signific changes on both those fronts. You're working

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Speaker 3: towards it. You're working towards it, and all the financial

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Speaker 3: progress that that Clint has achieved, I think it. You know,

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Speaker 3: it means a lot less if your physical health is

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Speaker 3: in is in rotten shape. There's a there's a whole

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Speaker 3: lot of people who pay. There's that article on recently

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Speaker 3: that you and I talked about where the guy was like, yeah,

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Speaker 3: I reach financial independence, but I gave up relationships and

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Speaker 3: I gained eighty pounds.

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Speaker 1: And you just see gained eighty pounds while he was

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Speaker 1: in college, right, You're talking about the young guy who's

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Speaker 1: like the entrepreneur sold multiple businesses for millions of dollars.

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Speaker 3: It's like, cool, maybe the train off wasn't worth it

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Speaker 3: even if you have a billion dollars. Sorry, not interested.

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Speaker 3: And I wish you and I we could get more

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Speaker 3: Americans to realize this. I think it's a particular problem

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Speaker 3: in our society where there's just a lot of unhealthy

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Speaker 3: foods that are easily accessible to us, and we haven't

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Speaker 3: questioned that ready availability, and many of us have just

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Speaker 3: like bought into the ease, kind of like the uber

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Speaker 3: eats of things like yeah, just get fast food delivered

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Speaker 3: to me and we'll call it a day. That's my dinner.

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Speaker 3: It's not just I think that paying more attention now

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Speaker 3: is going to reduce medical costs down the road.

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Speaker 1: It will. It's also you're paying attention to that like

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Speaker 1: prevention on the front end, which is so crucial. But

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Speaker 1: also you're gonna feel better, You're gonna have more mobility,

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Speaker 1: you're going be able to enjoy the money and that

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Speaker 1: slew of cars that you have right as it grows.

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Speaker 1: So just yeah, being in better shape is huge. Yeah,

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Speaker 1: your conversation with Nick macgilli makes me think about that.

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Speaker 1: That was his craft beer equivalent, was splurging on. He's like,

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Speaker 1: I'm going to say yes basically to all the health

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Speaker 1: things because and he talked about how that is the

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Speaker 1: one thing that you would trade basically all of your

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Speaker 1: money for if you don't have it, so there'd be

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Speaker 1: ability to prioritize that a little bit. And obviously, so

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Speaker 1: here now, some.

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Speaker 3: Of those things we don't have full control over, right,

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Speaker 3: it's absolutely I'm sure there are things that we can

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Speaker 3: change about our diet and the way we live that

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Speaker 3: impact whether or not we get cancer or what type

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Speaker 3: of cancer we get. But there's also a whole lot

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Speaker 3: of things that are genetic that we're predisposed to that

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Speaker 3: are impossible to avoid. It's just the roll of the

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Speaker 3: dice to a certain degree. But there's still a lot

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Speaker 3: you can do, I think to yeah, allow yourself to

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Speaker 3: enjoy better health.

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Speaker 1: Whether it's just a walk.

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Speaker 3: You and I take a walk after lunch, a walk

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Speaker 3: after dinner with your spouse or your friend or something

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Speaker 3: like that.

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Speaker 1: Love it. Yeah, Yeah, took two walks yesterday because I

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Speaker 1: had extra pie.

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Speaker 3: Part of the reason you and I are drinking less

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Speaker 3: beer because it impacts the sleep the older we get.

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Speaker 3: It makes a big difference, and it's not a surprise.

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Speaker 3: I think Clint said he's thirty eight or thirty nine, like,

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Speaker 3: these are the kind of thing you start thinking about.

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Speaker 1: What's exactly when I started thinking about these things once

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Speaker 1: you get to be that age. But Clint, he specifically

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Speaker 1: called out the protein powder from Sam's Club, the members

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Speaker 1: Mark brand, which I'm guessing is pretty solid. But I'm

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Speaker 1: not gonna speak to it personally because I don't have

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Speaker 1: the experience there. But what I can speak too directly,

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Speaker 1: which of course gives me the opportunity to talk about

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Speaker 1: al d so here's the uh. I started this a

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Speaker 1: few weeks ago, and I started it, I did it once.

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Speaker 1: But I'm gonna call this the al D item of

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Speaker 1: the week, which is the elevation way. It's the protein powder.

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Speaker 1: I've been supplementing with that for a couple of years now.

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Speaker 1: At this point, it tastes pretty good. The vanilla tastes

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Speaker 1: good at least. I would not recommend the other flavors.

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Speaker 1: Chocolate's fine. I've tried some of the they've got, like

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Speaker 1: these limited time flavors sometimes like there's like a it's

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Speaker 1: like a vanilla high or something. All the other flavors

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Speaker 1: were pretty terrible, so I would not recommend those.

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Speaker 3: But the best part, the cool thing is if you

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Speaker 3: buy it at all me and you don't like it,

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Speaker 3: you can take it and take it back. There's that

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Speaker 3: satisfaction guarantee.

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Speaker 1: I think I did that actually with one of them, well,

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Speaker 1: I think one of them I powered through. By the

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Speaker 1: end of it, I was like gagging the second one

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Speaker 1: because it was I got them both on sale, and

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Speaker 1: I was like, I can't pass up an opportunity to

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Speaker 1: reduce my per gram of protein cost even more so.

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Speaker 1: That's the best part. A tub of that protein powder

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Speaker 1: cost eighteen dollars and twenty nine cents, okay, and I've

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Speaker 1: never so I've never broken down the cost per serving.

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Speaker 1: That's what Clinton does. But I have broken it down

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Speaker 1: to the price per gram of protein. That's my preferred

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Speaker 1: metric of choice, which in this case is just three

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Speaker 1: cents per gram of protein, which is amazing. Dude. It

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Speaker 1: is seriously really tough to beat that, and I try

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Speaker 1: to beat that. Specifically, at Costco, they've got the Organ

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Speaker 1: brand protein. It's a peep it's vegetable. It's not Way protein.

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Speaker 1: It's like pea protein. I didn't like it as much,

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Speaker 1: made me a little gassy, it was a little tough

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Speaker 1: on the stomach. I appreciate you switching back to the

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Speaker 1: other brand. The Way was much better for my body.

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Speaker 1: But even there at Costco, when it was on sale,

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Speaker 1: it only I was only You're only able to get

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Speaker 1: it for about five cents program of protein, which is

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Speaker 1: still affordable. It's just not as affordable as as Aldie.

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Speaker 1: So I'm going to speak directly to that. I'm a

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Speaker 1: fan of what it is at Aldi is selling, even

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Speaker 1: though eventually you kind of get tired of it, and

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Speaker 1: so I do supplement the flavor of the protein powder

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Speaker 1: by getting the peebet the what is it called the

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Speaker 1: peanut butter fit Peebi fit, which they do so at costco.

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Speaker 1: I always add a spoon of that just to help

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Speaker 1: it taste a little bit better flavor. And in the morning,

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Speaker 1: that peanut butter powder so good. Yeah, I'm a huge

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Speaker 1: fan of that.

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Speaker 3: I put real peanut butter scoops of peanut butter in

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Speaker 3: my daughter's smoothies in the morning.

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Speaker 1: She's ended up. She's a smooth addict. But then you

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Speaker 1: gotta hit, You gotta plow the blender, say, as opposed

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Speaker 1: to the shaker bottle. Man, that's what's so convenient about

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Speaker 1: the shaker bottle. You fill it with water, the powder,

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Speaker 1: give it a shake, you're on your way. I wonder

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Speaker 1: if she'd be okay with that, because she likes the

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Speaker 1: almond milk with the eye. She likes the texture, yes mood,

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Speaker 1: I get nice and icy, right, Can I say this?

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Speaker 1: And I'm curious to hear your thoughts on this, because

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Speaker 1: you're I just dove deep into the deep end. Yeah,

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Speaker 1: but your brain is.

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Speaker 3: More into this than I am, So I guess maybe

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Speaker 3: one thing I want to say is like, hey, Clint,

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Speaker 3: how much protein do you actually need in your diet?

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Speaker 3: Maybe we should have started there. So much depends on

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Speaker 3: what you're doing physically. And I do think we're in

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Speaker 3: this current cultural place where protein is the end all

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Speaker 3: be all, and Americans are kind of obsessed with protein

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Speaker 3: intake right now.

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Speaker 1: We're kind of a you're questioning his question to begin.

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Speaker 3: One, Yeah, we've kind of proteinized everything, Like think about, uh,

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Speaker 3: there's protein infused water, protein infused coffee, and probably like

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Speaker 3: just yogurt with extra protein in it. And maybe it's

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Speaker 3: a good idea to just reconsider whether or not you

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Speaker 3: need as much protein as you think. And so I thought,

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Speaker 3: Matt for it just makes me think of like I thought,

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Speaker 3: maybe creatine might be good for me as a runner.

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Speaker 3: I've heard some of my friends who lift weights and

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Speaker 3: stuff talk about taking creatine and how it is beneficial

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Speaker 3: and beneficial with what like recovery and potentially putting on

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Speaker 3: muscle mass and strength.

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Speaker 4: Yeah.

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Speaker 1: Yeah, so from a strength training standpoint, it's one great

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Speaker 1: thing to do. And then I'd heard some people say,

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Speaker 1: but for runners too, it might be helpful. And then

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Speaker 1: you look into it more in the just doesn't really

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Speaker 1: support the fact that it's good for hunters, and so's like,

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Speaker 1: why am I going to waste my money on creatine

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Speaker 1: if I'm like drinking it but it's not doing what

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Speaker 1: I need it to do for me because I'm not

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Speaker 1: lifting weights like you are totally. So well, yeah, yeah,

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Speaker 1: I think that's a great question though. So for Clint specifically, well,

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Speaker 1: we kind of glossed over this. Well, he said he

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Speaker 1: works out a foundry, which I that's why where they

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Speaker 1: make stuff out of like metal and iron, right, So

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Speaker 1: maybe he is. He says he's getting a little more active,

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Speaker 1: but maybe during the course of the day he's like superactive.

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Speaker 1: So maybe in his case, like maybe maybe it isn't

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Speaker 1: even if he isn't doing a ton of strength training,

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Speaker 1: let's say in the morning or after work. He's just like,

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Speaker 1: I need something a little more substantial.

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Speaker 3: Fellas, I wasn't aware of this until you told me

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Speaker 3: the other day that there's more protein in an ounce

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Speaker 3: of chicken than there is in an ounce of steak.

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Speaker 3: And think about how much cheaper chicken is.

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Speaker 1: I get chickens.

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Speaker 3: Really, I can hold chickens lately at Costco Tupac. You

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Speaker 3: smoke them both. It's ninety nine cents a pound for

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Speaker 3: that chicken. So think about how cheap that protein source

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Speaker 3: is and how good it could be. So maybe like

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Speaker 3: I don't throw more chicken into your lunch regimen, or

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Speaker 3: like for eggs, Right, that's another good go to. Beans

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Speaker 3: can be a good source of protein that you haven't

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Speaker 3: considered as well. Like for me, I'm trying to increase

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Speaker 3: like my carbload because of how much I'm running. And

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Speaker 3: so mango, like I love dried mango, I love the

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Speaker 3: taste of it. I'm just I'm just gonna eat more

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Speaker 3: of that because it's delicious and it's given me some

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Speaker 3: of those carbs I need, and it's a real food.

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Speaker 1: And that's the thing because so one of the other

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Speaker 1: things he was asking was specifically, well I guess he

404
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Speaker 1: was asking, yeah, like should I buy into the nicer stuff,

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Speaker 1: like the nicer, more well marketed protein powders that have

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Speaker 1: slick labels and whatnot. Either way, it's still very processed, right,

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Speaker 1: Like even the nicer proteins that have like quality ingredients,

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Speaker 1: it's still a protein powder as opposed to, like you said,

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Speaker 1: eating whole foods. So I've got this chart where I

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Speaker 1: tracked my the things I was buying to try to

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Speaker 1: figure out the best bang for your buck when it

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Speaker 1: comes to protein. And I could get organic chicken on

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Speaker 1: sale for like five something a pound, which is much

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Speaker 1: less than or much more than what than even what

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Speaker 1: you were saying. But even still, that's like super high

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Speaker 1: quality chicken. And yes, that got my price down to

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Speaker 1: something like four cents program of protein, which is super

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Speaker 1: comparable to the ald protein powder. Yeah, like, I mean

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Speaker 1: it's right there. So think about how cheap the whole

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Speaker 1: chickens are that I'm smoking, Like, yes, how cheap. Certainly

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Speaker 1: lean into that protein. It's just a matter of how

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Speaker 1: much chicken can you eat in one day? Yeah? Right,

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Speaker 1: If you know you're gonna have chicken for dinner, you're like, well,

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Speaker 1: can I also have it for breakfast or for lunch? Yeah?

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Speaker 1: As well, you start to get chicken fatigue, I guess, yeah.

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Speaker 3: Yeah, well yeah, you can do chicken over that other

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Speaker 3: There's a lot of ways you can do chicken and

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Speaker 3: make it palatable and interesting and unique. But it just

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Speaker 3: makes you think too that it's so easy when you're

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Speaker 3: getting health conscious to get focused on supplementsing gear. And

431
00:18:39,240 --> 00:18:41,439
Speaker 3: I'm not against either one of those things. Like I

432
00:18:41,440 --> 00:18:43,720
Speaker 3: remember when I was getting into running and like buying

433
00:18:44,000 --> 00:18:45,359
Speaker 3: a pair of shorts and a shirt like that, I

434
00:18:45,440 --> 00:18:47,600
Speaker 3: felt good in, it made me happy, it made me

435
00:18:47,640 --> 00:18:49,960
Speaker 3: excited to actually go for that run. And so some

436
00:18:50,000 --> 00:18:51,760
Speaker 3: people don't care about that stuff at all.

437
00:18:51,920 --> 00:18:54,040
Speaker 1: Gear over stuff Michael Easter, Yeah, I do.

438
00:18:54,280 --> 00:18:56,480
Speaker 3: I do care about that stuff at least a little bit.

439
00:18:56,920 --> 00:19:00,639
Speaker 3: But also know that you know, people spend money on

440
00:19:00,680 --> 00:19:03,480
Speaker 3: stuff that supports good health, and then that stuff wastes

441
00:19:03,520 --> 00:19:06,159
Speaker 3: away in the garage or you just never use it,

442
00:19:06,160 --> 00:19:08,920
Speaker 3: it's sitting in a drawer. Yeah, maybe you can sell

443
00:19:08,920 --> 00:19:10,840
Speaker 3: that item. You'll get pennies on the dollar. You lost

444
00:19:10,840 --> 00:19:12,800
Speaker 3: a lot of money buying that stuff, and I think

445
00:19:13,080 --> 00:19:15,480
Speaker 3: more gear or top notch protein powders. It certainly can

446
00:19:15,520 --> 00:19:18,200
Speaker 3: be helpful in your endeavors, but the most important inputs

447
00:19:18,200 --> 00:19:20,520
Speaker 3: are often the cheapest and the easiest things that you

448
00:19:20,520 --> 00:19:23,160
Speaker 3: can do. Just hey that walk after lunch, running a little,

449
00:19:23,200 --> 00:19:27,000
Speaker 3: doing some push ups. The protein powder can help in

450
00:19:27,040 --> 00:19:29,840
Speaker 3: some of your goals. But I think one thing that

451
00:19:29,880 --> 00:19:32,119
Speaker 3: I had to tell myself was, like, spend money after

452
00:19:32,359 --> 00:19:34,280
Speaker 3: I've proved that I can and will stick with something,

453
00:19:34,520 --> 00:19:38,160
Speaker 3: and then reward myself with an upgraded item after hitting

454
00:19:38,200 --> 00:19:41,160
Speaker 3: certain metrics. So like I did with the sauna, right,

455
00:19:41,200 --> 00:19:43,560
Speaker 3: the tent sauna that I bought, I still have not

456
00:19:43,640 --> 00:19:45,960
Speaker 3: bought a real sauna, but it's on my list. It's

457
00:19:46,000 --> 00:19:48,120
Speaker 3: like I have used it enough, I've used it consistently enough,

458
00:19:48,119 --> 00:19:49,879
Speaker 3: I really enjoy it. I think I'm ready now to

459
00:19:49,880 --> 00:19:54,720
Speaker 3: pounce on a much more expensive sauna to enjoy and

460
00:19:55,080 --> 00:19:57,199
Speaker 3: do the same for yourself. Hey, if I'm hitting certain metrics,

461
00:19:57,200 --> 00:19:59,920
Speaker 3: so then I'm willing to now commit to the more

462
00:20:00,000 --> 00:20:03,000
Speaker 3: defensive protein powder or at least a regular regimen of that,

463
00:20:03,040 --> 00:20:05,199
Speaker 3: when I might have been able to get by just

464
00:20:05,280 --> 00:20:08,359
Speaker 3: doing a diet that's more protein heavy with real foods.

465
00:20:08,359 --> 00:20:10,320
Speaker 1: So as deaf clinted, we hope that gets you pointed

466
00:20:10,320 --> 00:20:12,199
Speaker 1: in the right direction. Joe, We've got more to get to.

467
00:20:12,240 --> 00:20:14,200
Speaker 1: We're gonna hear from a listener who is looking to

468
00:20:14,240 --> 00:20:18,480
Speaker 1: maximize the tax benefit from socking away some extra dollars.

469
00:20:18,480 --> 00:20:21,280
Speaker 1: We'll get to her question and more right after this.

470
00:20:29,160 --> 00:20:31,840
Speaker 1: All right, Matt, we're back more listener questions on the way.

471
00:20:32,119 --> 00:20:35,840
Speaker 1: Let's get to a question now about different types of

472
00:20:36,200 --> 00:20:38,440
Speaker 1: home loans and how to know which one is best

473
00:20:38,440 --> 00:20:38,719
Speaker 1: for you.

474
00:20:39,320 --> 00:20:41,520
Speaker 4: Hey guys, my name's Chris. You're currently in the process

475
00:20:41,520 --> 00:20:44,280
Speaker 4: of transitioning out of the military station in Testine, Florida,

476
00:20:44,600 --> 00:20:45,840
Speaker 4: and my wife and I are planning to buy a

477
00:20:45,840 --> 00:20:48,560
Speaker 4: home in our next location. We're trying to decide between

478
00:20:48,720 --> 00:20:51,960
Speaker 4: using a VA loan with zero percent down we're going

479
00:20:52,000 --> 00:20:54,840
Speaker 4: to conventional home loan putting twenty percent down. We're twenty

480
00:20:54,840 --> 00:20:57,080
Speaker 4: five and twenty three years old, expecting your first child

481
00:20:57,119 --> 00:20:59,840
Speaker 4: in December, and my wife plans to stay home full

482
00:20:59,840 --> 00:21:02,400
Speaker 4: time after the child is born. We'll have enough say

483
00:21:02,440 --> 00:21:04,520
Speaker 4: for a twenty percent downhan after selling our current home.

484
00:21:05,000 --> 00:21:07,480
Speaker 4: I also have a VA disability rating over ten percent,

485
00:21:07,560 --> 00:21:10,560
Speaker 4: so the VA funding feud be waived. Given our current situation,

486
00:21:10,600 --> 00:21:12,480
Speaker 4: would it make more sense to use a VA loan

487
00:21:12,560 --> 00:21:16,080
Speaker 4: invest the savings instead of putting twenty percent down. If so,

488
00:21:16,119 --> 00:21:17,480
Speaker 4: it'll be wise to put some of the money into

489
00:21:17,480 --> 00:21:20,040
Speaker 4: a five twenty nine s of lump sum contribution instead

490
00:21:20,040 --> 00:21:23,119
Speaker 4: of as a monthly contribution after our child's born. For context,

491
00:21:23,200 --> 00:21:25,280
Speaker 4: for in money year six, we have no debt other

492
00:21:25,320 --> 00:21:28,119
Speaker 4: than our current mortgage, and we have invested roughly three

493
00:21:28,200 --> 00:21:33,280
Speaker 4: hundred thousand dollars between taxtbuble and retirement savings outside of

494
00:21:33,320 --> 00:21:35,960
Speaker 4: our down payment in cash. Thanks for all you guys do.

495
00:21:36,320 --> 00:21:39,159
Speaker 1: Holy cow. Did Chris say that they've got something like

496
00:21:39,160 --> 00:21:42,600
Speaker 1: three hundred thousand set aside and specifically earlier in this question,

497
00:21:42,640 --> 00:21:44,080
Speaker 1: did he say that they were in there like early

498
00:21:44,160 --> 00:21:48,359
Speaker 1: to mid twenties? Holy cow? That is totally impressive. Chris,

499
00:21:48,440 --> 00:21:50,680
Speaker 1: you and your wife you obviously have good heads on

500
00:21:50,720 --> 00:21:52,600
Speaker 1: your soldiers when it comes to your finances, and so

501
00:21:53,560 --> 00:21:55,480
Speaker 1: we will do our best, certainly to help you with

502
00:21:55,560 --> 00:21:58,480
Speaker 1: this particular question. That Big said, you are making beautiful

503
00:21:58,560 --> 00:22:02,440
Speaker 1: progress towards financial independence. I was not that far along,

504
00:22:02,480 --> 00:22:04,800
Speaker 1: I will say when I was your age, and I

505
00:22:04,800 --> 00:22:07,760
Speaker 1: think most likely you'll be fine with either choice. But still,

506
00:22:07,800 --> 00:22:09,600
Speaker 1: let's try to He's looking to take it to the

507
00:22:09,640 --> 00:22:12,520
Speaker 1: next level. Let's help Chris to optimize here. Let's do it.

508
00:22:12,600 --> 00:22:14,679
Speaker 3: Seems like the main question right is whether or not

509
00:22:14,720 --> 00:22:16,760
Speaker 3: to put money towards a down payment or into a

510
00:22:16,760 --> 00:22:19,560
Speaker 3: five to twenty nine plan. And if it were a

511
00:22:19,640 --> 00:22:23,000
Speaker 3: question of paying off a low interest rate mortgage instead, Matt,

512
00:22:23,000 --> 00:22:25,080
Speaker 3: I think I'd say we prefer the five twenty nine

513
00:22:25,080 --> 00:22:27,240
Speaker 3: in all likelihood, keep your two point seventy five or

514
00:22:27,240 --> 00:22:32,560
Speaker 3: three point three point zero percent interest rate mortgage intact because,

515
00:22:33,240 --> 00:22:35,000
Speaker 3: like we've said, it's not an asset, but it's it's

516
00:22:35,000 --> 00:22:37,200
Speaker 3: not a bad thing to have, and you might would

517
00:22:37,240 --> 00:22:39,320
Speaker 3: likely want to prioritize other financial goals ahead of that,

518
00:22:39,840 --> 00:22:43,119
Speaker 3: or even savings. Right, just prioritizing savings over paying off

519
00:22:43,119 --> 00:22:45,520
Speaker 3: that low interest rate mortgage makes more sense given the

520
00:22:45,560 --> 00:22:48,600
Speaker 3: current climate we're in. But with higher interest rates that

521
00:22:48,640 --> 00:22:51,399
Speaker 3: we've seen, it likely makes more sense to get that

522
00:22:51,440 --> 00:22:55,080
Speaker 3: conventional mortgage with twenty percent down. I'm going to put

523
00:22:55,119 --> 00:22:57,119
Speaker 3: a caveat in here. I think if you're willing to

524
00:22:57,119 --> 00:23:00,200
Speaker 3: do other things with the excess money, we might lean

525
00:23:00,200 --> 00:23:02,000
Speaker 3: in the VA loan direction. Like if you're willing to

526
00:23:02,080 --> 00:23:04,119
Speaker 3: do smart things like with the money that you're not

527
00:23:04,160 --> 00:23:06,919
Speaker 3: putting down, then I think the VA loan can make

528
00:23:06,960 --> 00:23:09,840
Speaker 3: more sense. But with interest rates north of six percent,

529
00:23:09,840 --> 00:23:11,960
Speaker 3: although they have ticked down a little bit in recent days,

530
00:23:12,320 --> 00:23:15,159
Speaker 3: not having that additional mortgage debt can be wiser. Is

531
00:23:15,200 --> 00:23:18,439
Speaker 3: wiser I think really than it was five years ago,

532
00:23:19,119 --> 00:23:21,240
Speaker 3: although you could still opt for a VA loan and

533
00:23:21,240 --> 00:23:24,159
Speaker 3: you can still put money down. Yeah, so much about

534
00:23:24,200 --> 00:23:27,239
Speaker 3: this question, though, it looms large of what you're going

535
00:23:27,280 --> 00:23:29,080
Speaker 3: to do with that money. If it's going into a

536
00:23:29,080 --> 00:23:32,760
Speaker 3: five twenty nine what are your alternatives that might be smart.

537
00:23:32,760 --> 00:23:35,080
Speaker 3: But even that we have to talk about timing a

538
00:23:35,119 --> 00:23:36,520
Speaker 3: five twenty nine contribution.

539
00:23:36,680 --> 00:23:38,880
Speaker 1: Sure, well, it's important to note that the VA loan

540
00:23:38,960 --> 00:23:41,800
Speaker 1: might come with a lower interest rate and you you

541
00:23:41,800 --> 00:23:44,479
Speaker 1: can avoid that funding fee, which can be significant. So

542
00:23:44,920 --> 00:23:48,240
Speaker 1: that means, okay, you've got zero percent down and you

543
00:23:48,240 --> 00:23:50,240
Speaker 1: get the lower rate at the same time taking that

544
00:23:50,320 --> 00:23:52,720
Speaker 1: additional money and then investing the rest like that is

545
00:23:52,760 --> 00:23:55,359
Speaker 1: the behavioral alternative that we want to make sure that

546
00:23:55,359 --> 00:23:57,720
Speaker 1: you're doing. If that's the case and you can plan

547
00:23:57,800 --> 00:24:01,400
Speaker 1: to stick to that plan, I think I would recommend

548
00:24:01,400 --> 00:24:04,600
Speaker 1: doing that, and I think you can. I think you

549
00:24:04,640 --> 00:24:07,440
Speaker 1: are capable of doing that. Again, especially given how much

550
00:24:07,440 --> 00:24:09,960
Speaker 1: he has already socked away, it makes me think that

551
00:24:10,359 --> 00:24:12,879
Speaker 1: he's got no issues when it comes to self discipline

552
00:24:13,080 --> 00:24:15,679
Speaker 1: and doing the right thing with the money right. But

553
00:24:15,880 --> 00:24:17,600
Speaker 1: so much of it does come down to the specific

554
00:24:17,680 --> 00:24:20,439
Speaker 1: terms that you are being offered, and so shopping around

555
00:24:20,600 --> 00:24:24,000
Speaker 1: is crucial. Not all VA loans are are equal. It

556
00:24:24,080 --> 00:24:26,040
Speaker 1: just depends on the lender. It depends if you're looking

557
00:24:26,080 --> 00:24:29,280
Speaker 1: at a major bank, who's a participant in the VA

558
00:24:29,359 --> 00:24:32,400
Speaker 1: loan program or a local local credit union actually makes

559
00:24:32,440 --> 00:24:34,080
Speaker 1: me think of it. There's a local credit union in

560
00:24:34,119 --> 00:24:36,360
Speaker 1: our area and they've got this. This is the first

561
00:24:36,400 --> 00:24:38,679
Speaker 1: time ever I've ever seen this Productjole. It's called a

562
00:24:38,760 --> 00:24:42,520
Speaker 1: fifteen fifteen arm. Their interest rate is currently in the

563
00:24:42,560 --> 00:24:45,560
Speaker 1: low five so it's locked in for fifteen years and

564
00:24:45,600 --> 00:24:50,000
Speaker 1: then it adjusts once, which I'm like, wait a minute,

565
00:24:50,080 --> 00:24:52,720
Speaker 1: there's this is a pretty solid product here.

566
00:24:52,600 --> 00:24:54,760
Speaker 3: And when you look at the average time that people

567
00:24:54,760 --> 00:24:57,280
Speaker 3: spend in a home, something like twelve years.

568
00:24:57,160 --> 00:24:59,040
Speaker 1: She's not even going to be there. Yeah, fifteen years.

569
00:24:59,040 --> 00:25:01,040
Speaker 3: You probably won't have that more it's fifteen years from now,

570
00:25:01,040 --> 00:25:03,480
Speaker 3: but you will have saved a significant amount of interest

571
00:25:03,960 --> 00:25:07,280
Speaker 3: in those first fifteen years because yeah, the rate is

572
00:25:07,280 --> 00:25:09,360
Speaker 3: so much lower than the prevailing thirty year fixed.

573
00:25:09,200 --> 00:25:12,400
Speaker 1: Rate totally, So it's something to consider. You could also

574
00:25:12,440 --> 00:25:15,440
Speaker 1: reach out to a mortgage broker who specializes in VA loans,

575
00:25:15,920 --> 00:25:18,320
Speaker 1: but I think shopping around when you're getting a MORGE

576
00:25:18,560 --> 00:25:20,119
Speaker 1: is just going to be so crucial here, and it

577
00:25:20,160 --> 00:25:22,720
Speaker 1: can save you tens of thousands of dollars not only

578
00:25:22,760 --> 00:25:24,879
Speaker 1: over the years, but closer to the time of purchase

579
00:25:24,880 --> 00:25:25,200
Speaker 1: as well.

580
00:25:25,280 --> 00:25:28,679
Speaker 3: Yeah, and I think, like, really, what you're getting at is,

581
00:25:29,840 --> 00:25:32,560
Speaker 3: if you don't have to put all that money down,

582
00:25:32,160 --> 00:25:34,639
Speaker 3: you might get better terms, the lower interest rate with

583
00:25:34,640 --> 00:25:36,760
Speaker 3: the VA loan, and you're going to do something smart

584
00:25:36,800 --> 00:25:38,520
Speaker 3: with the money that would have gone to pre pay

585
00:25:38,560 --> 00:25:42,240
Speaker 3: that mortgage anyway, be ready for that higher monthly payment

586
00:25:42,240 --> 00:25:44,159
Speaker 3: because you won't have brought us much to the table.

587
00:25:44,560 --> 00:25:47,760
Speaker 3: But if you have the wiggle room in your finances

588
00:25:47,760 --> 00:25:49,280
Speaker 3: to make the higher payment work and you can do

589
00:25:49,320 --> 00:25:51,760
Speaker 3: something smart with the excess, I think it makes a

590
00:25:51,800 --> 00:25:53,880
Speaker 3: lot of sense, especially if you're getting the absolute best

591
00:25:53,960 --> 00:25:56,159
Speaker 3: terms by going with the VA loan against it instead

592
00:25:56,160 --> 00:25:58,199
Speaker 3: of a conventional loan. And then when it comes to

593
00:25:58,280 --> 00:26:01,639
Speaker 3: the five twenty nine plan question, I just want to

594
00:26:01,720 --> 00:26:04,879
Speaker 3: suggest this to be careful not to overemphasize money that

595
00:26:04,920 --> 00:26:06,719
Speaker 3: you're putting into a five to twenty nine because if

596
00:26:06,760 --> 00:26:08,800
Speaker 3: you're planning on private school, you're going to want to

597
00:26:08,800 --> 00:26:10,720
Speaker 3: make it a higher priority, right than if you're just

598
00:26:10,800 --> 00:26:13,600
Speaker 3: hoping to pay for your kids college. But there can

599
00:26:13,600 --> 00:26:15,639
Speaker 3: also be downsides to investing too much in a five

600
00:26:15,640 --> 00:26:17,720
Speaker 3: to twenty nine in a single year as well.

601
00:26:18,119 --> 00:26:20,400
Speaker 1: Yeah, because he well, he specifically said and then I'll

602
00:26:20,440 --> 00:26:23,399
Speaker 1: just do a lumpsum investing. Yeah, that's yeah, I think

603
00:26:23,400 --> 00:26:24,159
Speaker 1: that's what you're getting at.

604
00:26:24,320 --> 00:26:24,520
Speaker 2: Yeah.

605
00:26:25,800 --> 00:26:27,520
Speaker 3: Yeah, If you put too much in in a given year,

606
00:26:27,640 --> 00:26:30,440
Speaker 3: you might be foregoing future tax benefits that can be

607
00:26:30,520 --> 00:26:34,640
Speaker 3: significant by spreading out those contributions. So, for instance, in

608
00:26:34,760 --> 00:26:38,240
Speaker 3: the state that we live in, there's an eight thousand

609
00:26:38,320 --> 00:26:42,000
Speaker 3: dollars max per beneficiary amount that you can get a

610
00:26:42,040 --> 00:26:45,560
Speaker 3: tax benefit on a state, essentially a state tax exemption

611
00:26:45,640 --> 00:26:47,600
Speaker 3: on that money that you're putting into the five twenty nine.

612
00:26:47,920 --> 00:26:49,879
Speaker 3: And so if that's the case, if you're like, well,

613
00:26:49,880 --> 00:26:52,840
Speaker 3: I've got thirty two thousand dollars I want to put in, well,

614
00:26:52,840 --> 00:26:55,440
Speaker 3: if you spread it over four years instead of one,

615
00:26:55,880 --> 00:26:58,679
Speaker 3: you're getting that state tax benefit every single year to

616
00:26:58,760 --> 00:27:01,280
Speaker 3: the max. And I once should be thoughtful about how

617
00:27:01,359 --> 00:27:03,320
Speaker 3: much you're putting in and the rate at what you're

618
00:27:03,320 --> 00:27:05,960
Speaker 3: putting in those dollars so that you're not leaving right

619
00:27:06,440 --> 00:27:08,800
Speaker 3: tax you know, the ability to exempt those dollars from

620
00:27:08,840 --> 00:27:10,680
Speaker 3: tax on the table. I think it would just be

621
00:27:10,680 --> 00:27:13,200
Speaker 3: better to get it every single year instead of foregoing

622
00:27:13,280 --> 00:27:15,439
Speaker 3: that by getting the money in sooner. Just know the

623
00:27:15,440 --> 00:27:18,000
Speaker 3: state rules for where you're contributing because I know you

624
00:27:18,040 --> 00:27:19,920
Speaker 3: said you were in Florida, but you're moving. You just

625
00:27:19,920 --> 00:27:21,960
Speaker 3: don't want to whiff on tax benefits. That would be

626
00:27:21,960 --> 00:27:23,200
Speaker 3: a that would be a mess totally.

627
00:27:23,480 --> 00:27:25,240
Speaker 1: And if you end up going with the VA loan

628
00:27:25,320 --> 00:27:27,640
Speaker 1: and not using that down payment, that money it could

629
00:27:27,800 --> 00:27:29,359
Speaker 1: you know, it could sit there in your savings account

630
00:27:29,359 --> 00:27:32,480
Speaker 1: for a bit as you get adjusted to your new life.

631
00:27:32,520 --> 00:27:36,240
Speaker 1: You got the multiple changes happening right like, you're moving,

632
00:27:36,600 --> 00:27:38,880
Speaker 1: You're moving down to one income, You've got another mouth

633
00:27:38,880 --> 00:27:41,320
Speaker 1: to feed, So there's a little bit it's it would

634
00:27:41,320 --> 00:27:43,640
Speaker 1: be nice to have some additional margin. I guess that's

635
00:27:43,680 --> 00:27:46,000
Speaker 1: what I'm saying. But eventually I would love to see

636
00:27:46,040 --> 00:27:48,720
Speaker 1: you make this take that money and make it just

637
00:27:48,920 --> 00:27:51,240
Speaker 1: a combination of accounts where you stick that maybe in

638
00:27:51,240 --> 00:27:54,000
Speaker 1: your roth IRA, maybe you stick it in a workplace

639
00:27:54,040 --> 00:27:57,960
Speaker 1: retirement accounts, any additional maybe you can yes five twenty nine,

640
00:27:58,080 --> 00:28:01,640
Speaker 1: you know, up to the state deduction limit. Maybe beyond that,

641
00:28:02,119 --> 00:28:05,320
Speaker 1: hang onto that in cash, Maybe stick it into a

642
00:28:05,359 --> 00:28:07,960
Speaker 1: taxable brokerage account. Actually it may. I think I if

643
00:28:07,960 --> 00:28:10,479
Speaker 1: it was me, I would be hanging on to maybe

644
00:28:10,520 --> 00:28:14,360
Speaker 1: more of that in cash in my savings as opposed

645
00:28:14,480 --> 00:28:16,159
Speaker 1: if I didn't use some of that money as a

646
00:28:16,160 --> 00:28:18,160
Speaker 1: down payment, because also what does that mean. It means

647
00:28:18,280 --> 00:28:20,199
Speaker 1: you've got less equity in the home. And if you

648
00:28:20,280 --> 00:28:23,000
Speaker 1: end up moving sooner than expected, a lot of times,

649
00:28:23,040 --> 00:28:25,080
Speaker 1: that means you got to come to the table with

650
00:28:25,160 --> 00:28:28,080
Speaker 1: more money. And whereas typically that money is just taking

651
00:28:28,080 --> 00:28:30,560
Speaker 1: out of what it is that you are receiving right

652
00:28:30,600 --> 00:28:32,200
Speaker 1: like from the purchase price.

653
00:28:32,320 --> 00:28:34,200
Speaker 3: Which is one of the biggest downsides of not putting

654
00:28:34,200 --> 00:28:36,119
Speaker 3: more down is that if you do, like say two

655
00:28:36,160 --> 00:28:38,280
Speaker 3: and a half years from now, end up moving, oh,

656
00:28:38,320 --> 00:28:39,760
Speaker 3: we need to move, and guess what, the market's been

657
00:28:39,760 --> 00:28:40,400
Speaker 3: pretty stagnant.

658
00:28:40,440 --> 00:28:41,520
Speaker 1: We actually need a lot of money.

659
00:28:41,600 --> 00:28:44,160
Speaker 3: Yeah, especially with reeltor fees. We got to bring money

660
00:28:44,160 --> 00:28:46,320
Speaker 3: to the closing table exactly prepared for that. And hopefully

661
00:28:46,400 --> 00:28:49,200
Speaker 3: you're like making a buying decision because you do plan

662
00:28:49,240 --> 00:28:50,280
Speaker 3: on living there a long time.

663
00:28:50,360 --> 00:28:52,720
Speaker 1: But if you're not sure about that, yeah, behooves you

664
00:28:52,720 --> 00:28:55,120
Speaker 1: to have even more cash. Totally Normally we're immune to

665
00:28:55,480 --> 00:28:57,600
Speaker 1: realizing that because of the fact that, oh, well, you're

666
00:28:57,600 --> 00:28:59,760
Speaker 1: already put down twenty percent, so you don't realize that

667
00:28:59,800 --> 00:29:02,360
Speaker 1: you are coffin up money at the closing table. If

668
00:29:02,360 --> 00:29:03,960
Speaker 1: you were to move, say in two or three years,

669
00:29:04,360 --> 00:29:06,880
Speaker 1: but you really feel it if you put zero percent down.

670
00:29:07,000 --> 00:29:08,560
Speaker 1: So having that money on hand, I think that would

671
00:29:08,560 --> 00:29:11,000
Speaker 1: provide a nice cushion for y'all as well. All Jill,

672
00:29:11,000 --> 00:29:13,840
Speaker 1: Speaking of five twenty nine accounts, let's now hear from

673
00:29:13,960 --> 00:29:17,600
Speaker 1: a listener who is looking to maximize that state deduction

674
00:29:17,760 --> 00:29:20,040
Speaker 1: when it comes to paying for education.

675
00:29:20,400 --> 00:29:22,560
Speaker 6: Hi, Matt and Joel. My name is Anna and I'm

676
00:29:22,560 --> 00:29:25,400
Speaker 6: from Saint Paul, Minnesota. I have a question about five

677
00:29:25,480 --> 00:29:28,640
Speaker 6: twenty nines. I have two young kids, a toddler and

678
00:29:28,680 --> 00:29:31,640
Speaker 6: a newborn. I have started five twenty nine for both

679
00:29:31,680 --> 00:29:34,320
Speaker 6: of them and am making a small contribution each month

680
00:29:34,640 --> 00:29:37,440
Speaker 6: that we intend to either use for private high school

681
00:29:37,760 --> 00:29:40,160
Speaker 6: or to gift to them for college, depending on what

682
00:29:40,200 --> 00:29:43,240
Speaker 6: the future ends up looking like. Don't worry, our retirement

683
00:29:43,320 --> 00:29:45,560
Speaker 6: is well funded and our only debt is a sub

684
00:29:45,600 --> 00:29:49,400
Speaker 6: three percent mortgage. My question is regarding state plans for

685
00:29:49,440 --> 00:29:51,720
Speaker 6: five twenty nights. I have heard on the show before

686
00:29:51,840 --> 00:29:54,280
Speaker 6: that you can choose which states five twenty nine plan

687
00:29:54,360 --> 00:29:57,160
Speaker 6: you enroll in regardless of where you live, and that

688
00:29:57,240 --> 00:30:01,120
Speaker 6: different plans have different benefits. That in Minnesota we can

689
00:30:01,160 --> 00:30:04,680
Speaker 6: take a tax deduction for five twenty nine contributions. We

690
00:30:04,720 --> 00:30:07,200
Speaker 6: have our iras at Schwab, and I saw that they

691
00:30:07,240 --> 00:30:09,520
Speaker 6: had five twenty nines as well, so I had just

692
00:30:09,560 --> 00:30:12,520
Speaker 6: opened my kids five twenty ninees through them. I don't

693
00:30:12,560 --> 00:30:15,640
Speaker 6: remember having the option to choose a state. Did Schwab

694
00:30:15,760 --> 00:30:18,080
Speaker 6: just default to Minnesota's because it knows where I live?

695
00:30:18,600 --> 00:30:21,880
Speaker 6: Is Schwab's plans separate from our state plans? Can you

696
00:30:21,920 --> 00:30:24,360
Speaker 6: only claim the tax deduction if you're enrolled in the

697
00:30:24,400 --> 00:30:28,440
Speaker 6: state plan? Or do contributions to any five twenty nine work? Thanks?

698
00:30:28,920 --> 00:30:32,040
Speaker 3: Oh, Matt, I hear that kiddo sitting in her lap cooing,

699
00:30:32,200 --> 00:30:34,840
Speaker 3: So yeah, yeah, I miss those. You know what I

700
00:30:34,840 --> 00:30:37,480
Speaker 3: miss the most, I think is their fingers grabbing onto

701
00:30:37,520 --> 00:30:40,040
Speaker 3: your one indexger. I guess, like the best feeling in

702
00:30:40,040 --> 00:30:43,320
Speaker 3: the world's a parent. Yeah, babies are the best they are.

703
00:30:43,400 --> 00:30:46,240
Speaker 1: They are, Although I will say a little nostalgic feeling

704
00:30:46,280 --> 00:30:49,240
Speaker 1: like maybe you should go and undo any prominitent decisions

705
00:30:49,280 --> 00:30:50,240
Speaker 1: you made, any medical proces.

706
00:30:50,280 --> 00:30:52,520
Speaker 3: I'm not planning on making any changes moving forward, but

707
00:30:52,680 --> 00:30:54,360
Speaker 3: I can look back on those days with fondness.

708
00:30:54,480 --> 00:30:56,520
Speaker 1: Yeah, and I'm just pull out the phone and pull

709
00:30:56,600 --> 00:30:59,080
Speaker 1: up some pictures dude, honestly, Like, that's one of my

710
00:30:59,080 --> 00:31:01,680
Speaker 1: favorite things. Is it prompts me. It shows me a

711
00:31:01,720 --> 00:31:04,880
Speaker 1: picture from like this day, but seven years ago. Yeah,

712
00:31:04,920 --> 00:31:06,880
Speaker 1: and when the kids are a little Yeah, I love that.

713
00:31:06,920 --> 00:31:08,360
Speaker 1: And then you just like cry in a corner while

714
00:31:08,360 --> 00:31:10,800
Speaker 1: you're are sitting there. We'll just look at that picture

715
00:31:10,840 --> 00:31:12,640
Speaker 1: for the next thirty minutes. Yeah, it's like that's where

716
00:31:12,640 --> 00:31:14,080
Speaker 1: my day went. I get it.

717
00:31:14,560 --> 00:31:16,800
Speaker 3: Well, I'm guessing that Anna's baby was saying thank you

718
00:31:16,800 --> 00:31:19,800
Speaker 3: for all the money that you're setting aside on their behalf,

719
00:31:19,800 --> 00:31:21,520
Speaker 3: and like, I just want to say too, it's really

720
00:31:21,600 --> 00:31:23,560
Speaker 3: hard to predict what your life is going to look like,

721
00:31:23,600 --> 00:31:26,440
Speaker 3: and it's so nice to have flexibility, even if you're

722
00:31:26,480 --> 00:31:28,280
Speaker 3: not sure when or how you're going to use the

723
00:31:28,280 --> 00:31:31,480
Speaker 3: funds you're setting aside. I don't want people to be nervous, Matt,

724
00:31:31,600 --> 00:31:34,400
Speaker 3: so nervous about having enough in retirement that they invest

725
00:31:34,400 --> 00:31:37,160
Speaker 3: eighty five percent of their income unless that's like truly

726
00:31:37,200 --> 00:31:41,080
Speaker 3: what they're into. I think sometimes that it's like anxiety

727
00:31:41,200 --> 00:31:44,160
Speaker 3: that forces or feeds into people's belief that they need

728
00:31:44,200 --> 00:31:46,400
Speaker 3: to save and invest more than they actually need to.

729
00:31:46,440 --> 00:31:48,600
Speaker 3: It makes it really hard to enjoy the here and now. Yeah,

730
00:31:48,880 --> 00:31:50,760
Speaker 3: and I also don't want Anna to feel like it's

731
00:31:51,120 --> 00:31:53,320
Speaker 3: it's her standard, or the standard has to be that

732
00:31:53,360 --> 00:31:55,600
Speaker 3: she pays for all of her kids education. That's also

733
00:31:55,720 --> 00:31:58,440
Speaker 3: up to you. Although she did mention private school, and

734
00:31:58,480 --> 00:32:00,800
Speaker 3: in that case, you're in high school, Yeah, your fourteen

735
00:32:00,880 --> 00:32:02,480
Speaker 3: year old's probably not going to be able to pony

736
00:32:02,560 --> 00:32:04,960
Speaker 3: up power much money fifteen twenty grand for their freshman

737
00:32:05,040 --> 00:32:08,120
Speaker 3: year at the private high school. That's so that is

738
00:32:08,120 --> 00:32:11,400
Speaker 3: something that really is on your shoulders. And maybe I

739
00:32:11,400 --> 00:32:13,760
Speaker 3: should just reveal a personal factor in Matt. I never

740
00:32:13,800 --> 00:32:15,680
Speaker 3: saw this coming in our family. I never thought that

741
00:32:15,720 --> 00:32:18,800
Speaker 3: any of my kids would go to private school. And so,

742
00:32:19,000 --> 00:32:24,120
Speaker 3: but for my seventh grader this year starting middle school

743
00:32:24,560 --> 00:32:27,400
Speaker 3: was really really hard to see giant middle school. And

744
00:32:27,960 --> 00:32:31,160
Speaker 3: we decided a month then that actually that pivot was

745
00:32:31,160 --> 00:32:33,000
Speaker 3: going to make sense for us. And I'm glad that

746
00:32:33,040 --> 00:32:34,840
Speaker 3: I'd been sending money aside in a five to twenty

747
00:32:34,920 --> 00:32:39,000
Speaker 3: nine plan. I wasn't planning on using it for a

748
00:32:39,040 --> 00:32:42,640
Speaker 3: private grade school education, but that's what we're going to

749
00:32:42,720 --> 00:32:43,640
Speaker 3: use at least part of it for.

750
00:32:44,040 --> 00:32:46,440
Speaker 1: So that's one of the beauties of making some of

751
00:32:46,440 --> 00:32:49,680
Speaker 1: these smart moves. Previously, like you're thinking previous Joel, like

752
00:32:49,720 --> 00:32:52,880
Speaker 1: old Joel, yesterday Joel for having done something like that,

753
00:32:52,880 --> 00:32:55,280
Speaker 1: because it gives you the options to they decide, hey,

754
00:32:55,360 --> 00:32:57,720
Speaker 1: maybe we can do a little pivot here and a

755
00:32:57,760 --> 00:33:01,240
Speaker 1: lot our dollars. Differently, by the way, the One Big

756
00:33:01,240 --> 00:33:04,160
Speaker 1: Beautiful Bill Act, there's some changes that took place and

757
00:33:04,280 --> 00:33:07,760
Speaker 1: it now allows for up to twenty thousand dollars annually

758
00:33:08,080 --> 00:33:11,680
Speaker 1: in five twenty nine, withdraws for K twelve education starting

759
00:33:11,840 --> 00:33:14,840
Speaker 1: next year in twenty twenty six. So good news for

760
00:33:14,960 --> 00:33:16,840
Speaker 1: you and the other folks out there who might be

761
00:33:16,880 --> 00:33:18,080
Speaker 1: The cap was half that before.

762
00:33:18,360 --> 00:33:21,400
Speaker 3: Yeah, and so if you had a higher private school

763
00:33:21,480 --> 00:33:24,760
Speaker 3: education bill then you just you could only use a

764
00:33:24,760 --> 00:33:26,280
Speaker 3: portion of those five twenty nine dollars. You had to

765
00:33:26,320 --> 00:33:27,479
Speaker 3: find the rest elsewhere.

766
00:33:27,520 --> 00:33:30,280
Speaker 1: Yeah, you gotta find another creative way to pay that tuition.

767
00:33:30,360 --> 00:33:32,600
Speaker 1: Man on a She kind of headed us off at

768
00:33:32,600 --> 00:33:35,400
Speaker 1: the pass as well, because she knows that we're going

769
00:33:35,440 --> 00:33:38,280
Speaker 1: to point her to taking care of her own retirement

770
00:33:38,320 --> 00:33:41,120
Speaker 1: before funding the kids college before or in this case,

771
00:33:41,400 --> 00:33:44,240
Speaker 1: high school. You'll put on your own oxygen mask first,

772
00:33:44,320 --> 00:33:46,080
Speaker 1: And she says she's doing that, so no need to

773
00:33:46,160 --> 00:33:49,920
Speaker 1: linger there. But it depends on the state's specific five

774
00:33:50,000 --> 00:33:52,760
Speaker 1: twenty nine plan as to whether or not you can

775
00:33:52,800 --> 00:33:56,080
Speaker 1: get the state the state income tax deduction. So whether

776
00:33:56,160 --> 00:34:00,080
Speaker 1: or not you contribute to the state's website directly or

777
00:34:00,080 --> 00:34:03,080
Speaker 1: whether you do it through Schwab through another provider, it

778
00:34:03,120 --> 00:34:05,080
Speaker 1: depends on the specifics of that plan.

779
00:34:05,280 --> 00:34:08,560
Speaker 3: So, for instance, in our state, our state says no, no, no, no,

780
00:34:08,640 --> 00:34:09,760
Speaker 3: you don't get the state taxman.

781
00:34:09,880 --> 00:34:12,319
Speaker 1: You have to go to the it's the sort of

782
00:34:12,320 --> 00:34:13,800
Speaker 1: fake sounding website.

783
00:34:13,480 --> 00:34:16,480
Speaker 3: Like Path through College with the number two in there

784
00:34:16,520 --> 00:34:20,920
Speaker 3: for your yeah, yeah, yeah, which always seems like websites

785
00:34:20,960 --> 00:34:21,880
Speaker 3: of yours.

786
00:34:22,000 --> 00:34:23,040
Speaker 1: Yeah, that's what it feels like.

787
00:34:23,160 --> 00:34:27,839
Speaker 3: But other states, including Annas, say you can. You can

788
00:34:27,840 --> 00:34:29,759
Speaker 3: put it in any plan you want. You just have

789
00:34:29,840 --> 00:34:31,880
Speaker 3: to file claim that deduction. Yeah, you just have to

790
00:34:31,880 --> 00:34:33,759
Speaker 3: file a form after the fact. And so yeah, I

791
00:34:33,760 --> 00:34:35,800
Speaker 3: think it's important to mention that, depending on your income,

792
00:34:35,840 --> 00:34:38,760
Speaker 3: you can save right in the state of Minnesota, almost

793
00:34:38,760 --> 00:34:41,319
Speaker 3: ten percent depending on again, depending on how much you

794
00:34:41,360 --> 00:34:45,279
Speaker 3: make on taxes. For the three thousand dollars in contributions

795
00:34:45,280 --> 00:34:47,200
Speaker 3: each year that you can make and still qualify. Right,

796
00:34:47,280 --> 00:34:51,640
Speaker 3: So Minnesota doesn't have the absolute lowest expense fees, but

797
00:34:51,680 --> 00:34:53,640
Speaker 3: they're pretty good right, and largely because they use like

798
00:34:53,680 --> 00:34:57,360
Speaker 3: Tea and Vanguard Funds, which are both great companies. Starting

799
00:34:57,400 --> 00:35:00,560
Speaker 3: your own five twenty nine through the state's plan is right.

800
00:35:00,600 --> 00:35:03,320
Speaker 3: If you go to Minnesota's website as well, there's a

801
00:35:03,360 --> 00:35:06,680
Speaker 3: little bit more straightforward mat it's mnsaves dot org. But

802
00:35:06,760 --> 00:35:10,000
Speaker 3: what if you contribute through Schwab, Well, her state allows

803
00:35:10,000 --> 00:35:11,799
Speaker 3: her still to get the tax credit for doing so,

804
00:35:11,880 --> 00:35:14,920
Speaker 3: she just has to file the paperwork on the back end.

805
00:35:14,960 --> 00:35:17,840
Speaker 3: And so Minnesota is just one of those cool states

806
00:35:17,880 --> 00:35:20,640
Speaker 3: that let you claim that credit even if you contribute

807
00:35:20,640 --> 00:35:22,920
Speaker 3: to another plan. So you might say, well, yeah, the

808
00:35:23,200 --> 00:35:26,120
Speaker 3: fees are reasonable in Minnesota, but they're not like bargain

809
00:35:26,160 --> 00:35:29,520
Speaker 3: basement low Schwab's got lower fees, or the Utah plan

810
00:35:29,600 --> 00:35:31,880
Speaker 3: has lower fees, So I'm gonna go with that instead.

811
00:35:31,880 --> 00:35:34,880
Speaker 3: I don't want to be beholden the Minnesota's plan, and

812
00:35:34,920 --> 00:35:36,600
Speaker 3: you can have the best of both worlds in that case.

813
00:35:36,680 --> 00:35:40,319
Speaker 1: Yeah, I will say it. Also in her case, she's

814
00:35:40,320 --> 00:35:43,920
Speaker 1: gonna be using those dollars slightly sooner than you otherwise would.

815
00:35:43,960 --> 00:35:46,080
Speaker 1: But for a lot of folks out there listening, they're saying, okay,

816
00:35:46,080 --> 00:35:48,439
Speaker 1: five twenty nine accounts we're talking like almost twenty years

817
00:35:48,440 --> 00:35:50,799
Speaker 1: from now. Don't forget to actually invest those dollars. That's

818
00:35:50,800 --> 00:35:53,200
Speaker 1: one of the massive advantages. It's not just the deduction

819
00:35:54,120 --> 00:35:56,840
Speaker 1: in state income tax, but also the ability to for

820
00:35:56,920 --> 00:36:00,200
Speaker 1: this to grow without having to pay any tax is

821
00:36:00,200 --> 00:36:03,320
Speaker 1: on that growth and obviously if it's a qualified expense,

822
00:36:03,880 --> 00:36:06,520
Speaker 1: no taxes there and based on a big difference between

823
00:36:06,600 --> 00:36:08,759
Speaker 1: that money sitting there is cash as opposed to it

824
00:36:08,840 --> 00:36:12,920
Speaker 1: compounding for the next almost again, almost twenty years for her.

825
00:36:13,000 --> 00:36:16,160
Speaker 3: She's fairly young kids, so even high school is a

826
00:36:16,200 --> 00:36:18,799
Speaker 3: ways away. True, there's enough of a comfort level, I

827
00:36:18,840 --> 00:36:22,680
Speaker 3: think to be investing the majority of those dollars quite

828
00:36:22,680 --> 00:36:24,759
Speaker 3: aggressively too. Yeah, maybe that's the other part. You could

829
00:36:24,800 --> 00:36:27,279
Speaker 3: choose an age based portfolio if you want to set

830
00:36:27,320 --> 00:36:29,200
Speaker 3: it and forget it, or you can choose something like

831
00:36:29,520 --> 00:36:31,400
Speaker 3: a S and P five hundred fund, But then you

832
00:36:31,480 --> 00:36:33,640
Speaker 3: might want to revisit, like as you get closer four

833
00:36:33,719 --> 00:36:36,319
Speaker 3: or five years away, three three years away from from

834
00:36:36,400 --> 00:36:37,520
Speaker 3: needing to use some of those funds.

835
00:36:37,520 --> 00:36:40,080
Speaker 1: Absolutely, yeah, this is less of a priority if you're

836
00:36:40,080 --> 00:36:44,200
Speaker 1: planning to use these funds for like K five education,

837
00:36:44,560 --> 00:36:46,560
Speaker 1: because it's like, all right, how much is that actually

838
00:36:46,560 --> 00:36:48,520
Speaker 1: going to grow in the you know, she's got a

839
00:36:48,560 --> 00:36:52,200
Speaker 1: toddler over the next three years. I probably, were I

840
00:36:52,280 --> 00:36:54,840
Speaker 1: in her shoes, not invest those dollars. Honestly, I'd probably

841
00:36:55,280 --> 00:36:57,200
Speaker 1: I'd want to get the tax benefit. But otherwise I'm like,

842
00:36:57,200 --> 00:36:58,759
Speaker 1: all right, I'm happy with that. Let's make sure this

843
00:36:58,840 --> 00:37:01,680
Speaker 1: funds are readily available to pay for that. If you

844
00:37:01,680 --> 00:37:04,279
Speaker 1: one hundred percent know that that's something that's that that

845
00:37:04,400 --> 00:37:07,279
Speaker 1: is an expense you have coming up and then your term. Yeah,

846
00:37:07,320 --> 00:37:09,920
Speaker 1: I think I just want to reiterate for all other listeners,

847
00:37:10,239 --> 00:37:12,200
Speaker 1: where you live, which state you live in, whether or

848
00:37:12,280 --> 00:37:13,560
Speaker 1: not you even get a tax deduction.

849
00:37:13,640 --> 00:37:15,800
Speaker 3: Look that up and see how much can you contribute

850
00:37:15,840 --> 00:37:17,840
Speaker 3: in a given year to get the state tax deduction?

851
00:37:18,160 --> 00:37:21,200
Speaker 3: Look that up and see can you use an account

852
00:37:21,320 --> 00:37:23,759
Speaker 3: or a five twenty nine plan from somewhere else that

853
00:37:23,840 --> 00:37:26,359
Speaker 3: isn't your state specific one? Look and see those are

854
00:37:26,400 --> 00:37:29,960
Speaker 3: things you want to know before you start contributing and

855
00:37:30,000 --> 00:37:32,000
Speaker 3: maybe miss out on a tax benefit that you could

856
00:37:32,000 --> 00:37:34,840
Speaker 3: have received that can really equal hundreds and hundreds and

857
00:37:34,880 --> 00:37:39,040
Speaker 3: hundreds of dollars for you and a suite as you

858
00:37:39,239 --> 00:37:41,200
Speaker 3: kind of form that nest egg for your kid and

859
00:37:41,200 --> 00:37:43,480
Speaker 3: for their future education needs. All right, and I hope

860
00:37:43,480 --> 00:37:45,640
Speaker 3: that helps Matt. We got more questions to get to,

861
00:37:45,680 --> 00:37:49,800
Speaker 3: including one about saving on insurance costs as they seem

862
00:37:49,880 --> 00:37:52,400
Speaker 3: to be soaring. Talk about that and more. Right after this,

863
00:38:00,239 --> 00:38:01,080
Speaker 3: all right, money.

864
00:38:00,840 --> 00:38:03,759
Speaker 1: We are back from a break, and of course it

865
00:38:03,800 --> 00:38:06,360
Speaker 1: is now time for the Facebook Question of the week,

866
00:38:06,600 --> 00:38:09,279
Speaker 1: which is from Rebecca. She writes, our home and our

867
00:38:09,280 --> 00:38:12,279
Speaker 1: auto insurance policies are bundled. Home went up three hundred

868
00:38:12,320 --> 00:38:15,440
Speaker 1: bucks and auto went up one hundred and seventy dollars.

869
00:38:15,960 --> 00:38:18,160
Speaker 1: Is that standard right now? Or should I shop around?

870
00:38:18,320 --> 00:38:20,440
Speaker 1: We've been with this company since twenty twenty three and

871
00:38:20,480 --> 00:38:23,720
Speaker 1: got quotes last year and they were still the best price.

872
00:38:24,440 --> 00:38:27,680
Speaker 1: I will immediately say it depends if we're talking about

873
00:38:28,000 --> 00:38:31,080
Speaker 1: a monthly payment of auto going up one hundred and

874
00:38:31,080 --> 00:38:35,360
Speaker 1: seventy dollars, yeah, versus versus annually, because I would say

875
00:38:36,080 --> 00:38:38,399
Speaker 1: annually that is a pretty big increase. But I mean

876
00:38:38,560 --> 00:38:41,200
Speaker 1: some folks men are paying like fifteen hundred, if not

877
00:38:41,280 --> 00:38:44,360
Speaker 1: like two thousand dollars for their auto insurance easily, and

878
00:38:44,440 --> 00:38:46,279
Speaker 1: so I hear one hundred and seventy dollars increase and

879
00:38:46,320 --> 00:38:48,520
Speaker 1: I'm just like, actually, that's not bad at all compared

880
00:38:48,560 --> 00:38:50,560
Speaker 1: to what some folks are what some folks are seeing.

881
00:38:50,560 --> 00:38:52,040
Speaker 3: But yeah, and we don't know what she was paying,

882
00:38:52,080 --> 00:38:54,279
Speaker 3: so we don't know what the percentage increase that's exactly what,

883
00:38:54,440 --> 00:38:56,640
Speaker 3: which would speaking to you, would be really helpful to know.

884
00:38:56,800 --> 00:39:00,400
Speaker 3: But I will say it doesn't sound ridiculou if that's

885
00:39:00,400 --> 00:39:02,439
Speaker 3: an annual price increase, given kind of what we're seeing

886
00:39:02,480 --> 00:39:03,480
Speaker 3: in the marketplace right now.

887
00:39:03,520 --> 00:39:05,839
Speaker 1: By the way, it sounds like she's looking for some savings. Yeah.

888
00:39:05,880 --> 00:39:10,000
Speaker 3: Yeah, And insurance increases have just man, they've outpaced inflation

889
00:39:10,160 --> 00:39:13,120
Speaker 3: meaningful in the past few post COVID years. I think

890
00:39:13,239 --> 00:39:17,920
Speaker 3: really since twenty one, inflation on insurance costs has been

891
00:39:18,000 --> 00:39:20,400
Speaker 3: essentially double the cost of everything else. You're like, oh, man,

892
00:39:20,440 --> 00:39:21,920
Speaker 3: the cost of the grocery store has gone up, well

893
00:39:21,960 --> 00:39:24,440
Speaker 3: guess what, not nearly as much as the cost of insurance,

894
00:39:24,440 --> 00:39:26,840
Speaker 3: as most of our listeners have found out. But that

895
00:39:26,920 --> 00:39:29,160
Speaker 3: also doesn't mean that you shouldn't shop around.

896
00:39:29,160 --> 00:39:29,480
Speaker 1: I think it.

897
00:39:29,520 --> 00:39:31,840
Speaker 3: Actually it means that the stakes are higher. It doesn't

898
00:39:31,840 --> 00:39:34,560
Speaker 3: mean that you should resign yourself just to paying more

899
00:39:34,600 --> 00:39:39,040
Speaker 3: because price increases are inevitable. Just take that gut punch

900
00:39:39,080 --> 00:39:41,279
Speaker 3: and run with it. I think this means that the

901
00:39:41,320 --> 00:39:45,600
Speaker 3: disparity between rates and premiums is likely to be even

902
00:39:45,640 --> 00:39:49,000
Speaker 3: more pronounced than it has been. So you know, different

903
00:39:49,000 --> 00:39:52,319
Speaker 3: insurance insures raising premiums at different rates. I think it

904
00:39:52,440 --> 00:39:54,439
Speaker 3: just behooves you to be less loyal and to shop

905
00:39:54,440 --> 00:39:54,919
Speaker 3: around more.

906
00:39:55,000 --> 00:39:57,040
Speaker 1: If you shop thoroughly, If you did, you know a

907
00:39:57,160 --> 00:39:59,719
Speaker 1: pretty robust job. I would say it is okay to

908
00:40:00,560 --> 00:40:02,840
Speaker 1: just look maybe every other year, because it can be

909
00:40:02,880 --> 00:40:05,560
Speaker 1: a task, right Like, if you're doing this every single year,

910
00:40:05,640 --> 00:40:08,520
Speaker 1: might be overkill. But also consider having someone just to

911
00:40:08,560 --> 00:40:10,320
Speaker 1: help you out on that front. And I'm going to

912
00:40:10,360 --> 00:40:13,319
Speaker 1: recommend an independent insurance agent. They can be a great call.

913
00:40:14,200 --> 00:40:17,480
Speaker 1: They are also so much easier than calling a bunch

914
00:40:17,560 --> 00:40:20,480
Speaker 1: of different one eight hundred numbers or getting online and

915
00:40:20,520 --> 00:40:23,200
Speaker 1: getting different quotes. On top of you getting spam to

916
00:40:23,239 --> 00:40:25,000
Speaker 1: death as you get your number out there and your

917
00:40:25,000 --> 00:40:27,839
Speaker 1: email some of those lead generator websites can be a mess. Yeah,

918
00:40:27,880 --> 00:40:29,719
Speaker 1: So for folks who can't remember the last time that

919
00:40:29,719 --> 00:40:31,640
Speaker 1: they shop, just knowing that a bunch of your dollars

920
00:40:31,640 --> 00:40:33,359
Speaker 1: here are at stake, and even just by going with

921
00:40:33,400 --> 00:40:36,880
Speaker 1: a single independent agent head over to trust a choice

922
00:40:36,960 --> 00:40:40,320
Speaker 1: as well, that's a great single, one stop shop online

923
00:40:40,320 --> 00:40:41,359
Speaker 1: that can save you a bunch as well.

924
00:40:41,440 --> 00:40:43,759
Speaker 3: Yeah, the independent agent is a clutch thing if you

925
00:40:43,760 --> 00:40:46,000
Speaker 3: want it looks like someone else to do the work

926
00:40:46,000 --> 00:40:47,520
Speaker 3: for you. It's what they get paid to do. They

927
00:40:47,560 --> 00:40:50,480
Speaker 3: get paid by the insurance companies, not by you, and

928
00:40:50,520 --> 00:40:53,799
Speaker 3: so it doesn't cost you extra money. And someone else

929
00:40:53,920 --> 00:40:55,840
Speaker 3: is going to do that shopping on your behalf, which

930
00:40:56,160 --> 00:40:57,799
Speaker 3: and really kind of help you figure out what your

931
00:40:57,920 --> 00:41:00,640
Speaker 3: coverage should be too. They might be more they're in

932
00:41:00,680 --> 00:41:03,640
Speaker 3: all likelihood more informed about the insurance coverage that would

933
00:41:03,640 --> 00:41:05,440
Speaker 3: make sense for you and your family than you are.

934
00:41:06,480 --> 00:41:07,960
Speaker 3: And even if you have, by the way, the lowest

935
00:41:08,000 --> 00:41:10,200
Speaker 3: rate with your current insurance company, you might be able

936
00:41:10,239 --> 00:41:13,000
Speaker 3: to save even more. I just I think, especially in

937
00:41:13,040 --> 00:41:14,799
Speaker 3: this day and age, I wouldn't want to leave any

938
00:41:14,880 --> 00:41:17,680
Speaker 3: stone unturned when it comes to saving money on insurance.

939
00:41:17,680 --> 00:41:20,120
Speaker 3: These prices have increased so much. If you can self

940
00:41:20,120 --> 00:41:22,600
Speaker 3: insure to a greater degree, if you can raise your deductibles,

941
00:41:22,640 --> 00:41:25,080
Speaker 3: do that. If you can take a defensive driver course.

942
00:41:25,280 --> 00:41:27,960
Speaker 3: I took one online. My parents just took one online

943
00:41:27,960 --> 00:41:32,120
Speaker 3: to save money on their car insurance costs. And you

944
00:41:32,120 --> 00:41:34,160
Speaker 3: can pay like twenty five bucks, take the course, get

945
00:41:34,200 --> 00:41:36,200
Speaker 3: the certificate, and then you might be able to save

946
00:41:36,320 --> 00:41:39,120
Speaker 3: three four hundred bucks a year because now you look

947
00:41:39,160 --> 00:41:41,840
Speaker 3: like a safe driver. Ask your agent or your customer

948
00:41:41,840 --> 00:41:44,440
Speaker 3: service representative to run through a list of all the

949
00:41:44,440 --> 00:41:47,000
Speaker 3: potential discounts you might be eligible for. Maybe there's like

950
00:41:47,040 --> 00:41:49,440
Speaker 3: an alumni discount because of where you went to school.

951
00:41:49,640 --> 00:41:51,759
Speaker 3: Maybe if you pay in full or six months at

952
00:41:51,760 --> 00:41:54,439
Speaker 3: a time. I got that save fudal discount. Yeah, it's

953
00:41:54,440 --> 00:41:57,600
Speaker 3: like it can make sense, and auto pay, or if

954
00:41:57,640 --> 00:41:59,799
Speaker 3: you served in the military, like, ask about all of

955
00:41:59,800 --> 00:42:03,280
Speaker 3: these things because that could lead to savings on your insurance.

956
00:42:03,480 --> 00:42:05,439
Speaker 3: I just kind of like, you know, the magician Matt

957
00:42:05,480 --> 00:42:09,400
Speaker 3: pulling the ribbon out of their sleeve or whatever. That

958
00:42:09,480 --> 00:42:12,520
Speaker 3: never ends you get another discount. That's like me for discounts,

959
00:42:12,560 --> 00:42:15,399
Speaker 3: Like when I'm talking to the insurance agent and they're like, gosh, dude,

960
00:42:15,400 --> 00:42:16,600
Speaker 3: I think we've run through them all, and I'm like,

961
00:42:16,600 --> 00:42:16,960
Speaker 3: are you sure?

962
00:42:17,000 --> 00:42:17,640
Speaker 1: Are you sure we have?

963
00:42:18,280 --> 00:42:20,480
Speaker 3: And this is controversial, but you might even want to

964
00:42:20,520 --> 00:42:23,600
Speaker 3: consider letting them track your driving to save more. Some

965
00:42:23,640 --> 00:42:27,000
Speaker 3: people think that's an invasion of their privacy. For me,

966
00:42:27,080 --> 00:42:28,320
Speaker 3: I was willing to do it and it saved me.

967
00:42:28,320 --> 00:42:30,200
Speaker 1: Mon, would you rather have an invasion of your privacy

968
00:42:30,239 --> 00:42:32,480
Speaker 1: or an invasion of your wallet? Yeah? Exactly, that's true.

969
00:42:32,520 --> 00:42:35,520
Speaker 1: I'd rather have the invasion of my privacy for a

970
00:42:35,520 --> 00:42:37,920
Speaker 1: measured amount of time. Yep. And then you delete that oup. Yeah,

971
00:42:38,000 --> 00:42:39,640
Speaker 1: that's right, you're going to go. Let's do another one

972
00:42:39,640 --> 00:42:41,759
Speaker 1: real quick. This is from Jordan, He writes, one of

973
00:42:41,760 --> 00:42:43,960
Speaker 1: my financial goals has been to contribute to each of

974
00:42:43,960 --> 00:42:47,280
Speaker 1: my nieces, nephews and children's five twenty nine each birthday

975
00:42:47,320 --> 00:42:50,200
Speaker 1: and each Christmas. The plan has been to present them

976
00:42:50,280 --> 00:42:52,799
Speaker 1: this lump sum, and he said, it's about one hundred

977
00:42:52,800 --> 00:42:54,640
Speaker 1: dollars a year, so it's not a huge amount. As

978
00:42:54,640 --> 00:42:57,239
Speaker 1: the child graduates or turns eighteen, to decide what they

979
00:42:57,280 --> 00:42:59,239
Speaker 1: want to do with that money. The first child of

980
00:42:59,239 --> 00:43:01,600
Speaker 1: the bunch turns eight roughly when school ends for the

981
00:43:01,640 --> 00:43:04,080
Speaker 1: twenty twenty five twenty six school year. I'd like to

982
00:43:04,120 --> 00:43:06,960
Speaker 1: present her with various options and the pros and cons

983
00:43:07,000 --> 00:43:10,239
Speaker 1: of each so she can make an informed choice. The

984
00:43:10,239 --> 00:43:12,120
Speaker 1: way I see it, there are the following choices. One,

985
00:43:12,320 --> 00:43:14,600
Speaker 1: do nothing, leave it into five twenty nine if or

986
00:43:14,640 --> 00:43:17,160
Speaker 1: when she chooses to use it for school funding. At

987
00:43:17,160 --> 00:43:19,920
Speaker 1: this point. I doubt she will choose additional schooling, so

988
00:43:20,000 --> 00:43:22,319
Speaker 1: any benefit to leave it as the five twenty nine

989
00:43:22,320 --> 00:43:26,320
Speaker 1: if she doesn't want to do additional schooling. Two, cash

990
00:43:26,360 --> 00:43:29,080
Speaker 1: it out to use for personal expenses, maybe towards a car.

991
00:43:29,440 --> 00:43:31,560
Speaker 1: I believe if she picks this option there's a ten

992
00:43:31,600 --> 00:43:34,800
Speaker 1: percent penalty of the growth, not the principle. Is it

993
00:43:34,880 --> 00:43:38,279
Speaker 1: still correct? And Three another option roll it into a

994
00:43:38,360 --> 00:43:42,600
Speaker 1: roth Ira. Seems like a good option for compounded growth,

995
00:43:42,800 --> 00:43:47,680
Speaker 1: although it's very delayed gratification. Anything I'm missing, Joel, What

996
00:43:47,719 --> 00:43:49,799
Speaker 1: do you think George should be thinking through here?

997
00:43:49,840 --> 00:43:50,000
Speaker 4: Well?

998
00:43:50,000 --> 00:43:51,719
Speaker 3: First, I just want to say, one hundred bucks a year,

999
00:43:51,719 --> 00:43:55,960
Speaker 3: that's a meaningful gift for somebody's future. And it's those

1000
00:43:56,040 --> 00:43:58,319
Speaker 3: kiddos might not be old enough to appreciate it now,

1001
00:43:58,360 --> 00:44:01,040
Speaker 3: but they will someday that someone will helping think about

1002
00:44:01,040 --> 00:44:05,640
Speaker 3: their financial future putting dollars down to invest on their behalf.

1003
00:44:06,000 --> 00:44:08,840
Speaker 3: And I love too that it's not just the money,

1004
00:44:08,840 --> 00:44:10,640
Speaker 3: but he wants to help his niece make a wise

1005
00:44:10,680 --> 00:44:14,040
Speaker 3: decision with the money. And maybe this sounds sneaky, Matt,

1006
00:44:14,040 --> 00:44:15,440
Speaker 3: but here's what I would do. I would not cover

1007
00:44:15,480 --> 00:44:18,279
Speaker 3: option to at all. I would not tell her that

1008
00:44:18,320 --> 00:44:21,879
Speaker 3: she can use the funds for a car. I would say, Hey,

1009
00:44:21,880 --> 00:44:24,000
Speaker 3: these funds are either for higher education or you can

1010
00:44:24,080 --> 00:44:26,080
Speaker 3: roll it into a roth ira, which is this awesome

1011
00:44:26,120 --> 00:44:28,440
Speaker 3: investment vehicle that you can use to build wealth for

1012
00:44:28,480 --> 00:44:31,160
Speaker 3: your future. It's a perfect time to teach her what

1013
00:44:31,200 --> 00:44:33,759
Speaker 3: that is, how it works. I just don't think I

1014
00:44:33,880 --> 00:44:37,279
Speaker 3: talk about cashing it out for other uses, because why

1015
00:44:37,320 --> 00:44:38,200
Speaker 3: tempt her in that way.

1016
00:44:38,320 --> 00:44:41,080
Speaker 1: He's yeah, he said he specifically, So this money is

1017
00:44:41,080 --> 00:44:43,400
Speaker 1: already in a five twenty nine. So that's the catch.

1018
00:44:43,640 --> 00:44:46,160
Speaker 1: If it was me, I would be very willing to

1019
00:44:46,800 --> 00:44:49,440
Speaker 1: quote unquote like liquidate that money if it wasn't in

1020
00:44:49,440 --> 00:44:50,600
Speaker 1: the five twenty nine.

1021
00:44:50,400 --> 00:44:53,200
Speaker 3: Because of the fact that with the taxes and penalties. Yeah,

1022
00:44:53,200 --> 00:44:55,279
Speaker 3: that's the part that I kind of hate that because

1023
00:44:55,280 --> 00:44:58,120
Speaker 3: I almost so. My answer would be different if he

1024
00:44:58,200 --> 00:45:01,560
Speaker 3: was talking about nieces and nephews specifically versus kids, because

1025
00:45:01,560 --> 00:45:05,120
Speaker 3: when it comes to kids, like it's your job as

1026
00:45:05,160 --> 00:45:07,799
Speaker 3: a parent to be saving for the uh, It's up

1027
00:45:07,840 --> 00:45:10,200
Speaker 3: to you to decide how much you are looking to

1028
00:45:10,280 --> 00:45:13,680
Speaker 3: teach them, but it's more of your responsibility to help

1029
00:45:13,719 --> 00:45:16,760
Speaker 3: to prepare them for the future, versus if you're saving

1030
00:45:16,800 --> 00:45:19,520
Speaker 3: for nieces and nephews. This is just it's not your

1031
00:45:19,600 --> 00:45:22,080
Speaker 3: job to make them eat the broccoli and to make

1032
00:45:22,080 --> 00:45:23,719
Speaker 3: them like brush your teeth and go to bed on time,

1033
00:45:23,800 --> 00:45:26,040
Speaker 3: you know, Like like I in that case, I would

1034
00:45:26,040 --> 00:45:27,799
Speaker 3: want to be more of like the fun uncle and

1035
00:45:27,880 --> 00:45:30,239
Speaker 3: be like, it's your money, Like I've been setting this

1036
00:45:30,239 --> 00:45:31,759
Speaker 3: aside for you. You can do what you want with it,

1037
00:45:31,920 --> 00:45:33,839
Speaker 3: because then you're kind of investing in their in their

1038
00:45:33,880 --> 00:45:36,520
Speaker 3: relationship and the ability for you to continue to speak

1039
00:45:36,520 --> 00:45:38,920
Speaker 3: into their lives maybe a little bit more. Not that

1040
00:45:38,920 --> 00:45:42,359
Speaker 3: you're trying to like buy their love or anything, but

1041
00:45:42,400 --> 00:45:44,680
Speaker 3: it's the job of the parent to be the one

1042
00:45:44,719 --> 00:45:47,120
Speaker 3: to deliver the hard news of like.

1043
00:45:47,080 --> 00:45:48,719
Speaker 1: You gotta do this, you got to start preparing for

1044
00:45:48,760 --> 00:45:52,719
Speaker 1: your future. And I'm very much less interested in them

1045
00:45:52,800 --> 00:45:55,759
Speaker 1: rolling it into a roth ira, because I mean, it's

1046
00:45:55,760 --> 00:45:57,520
Speaker 1: not even my it's not even my job as a

1047
00:45:57,520 --> 00:45:59,680
Speaker 1: parent to help my kids start to say for their retirement,

1048
00:45:59,680 --> 00:46:02,480
Speaker 1: that's their job, right. If anything, I'm like, yeah, we'll

1049
00:46:02,480 --> 00:46:05,279
Speaker 1: talk about saving for college in a five twenty nine,

1050
00:46:05,719 --> 00:46:08,919
Speaker 1: but I'm not looking to intentionally start setting aside money

1051
00:46:08,920 --> 00:46:12,439
Speaker 1: for your retirement. But with him as an uncle, he's

1052
00:46:12,440 --> 00:46:14,800
Speaker 1: like even more removed from the situation, and so I

1053
00:46:14,840 --> 00:46:18,040
Speaker 1: would find I think this might even cause me to

1054
00:46:18,120 --> 00:46:21,520
Speaker 1: consider ways to save to set money aside for them

1055
00:46:21,560 --> 00:46:25,280
Speaker 1: in a more fun, sort of enriching way, as opposed

1056
00:46:25,320 --> 00:46:27,279
Speaker 1: to just if you want to contribute to the five

1057
00:46:27,320 --> 00:46:29,000
Speaker 1: twenty nine, that's great, reach out to the parents. I'm

1058
00:46:29,000 --> 00:46:31,040
Speaker 1: sure they've got parents that are that are doing that

1059
00:46:31,080 --> 00:46:33,560
Speaker 1: for them, But I would be looking for ways to

1060
00:46:33,840 --> 00:46:37,640
Speaker 1: have a more relatable financial impact in their lives, like

1061
00:46:37,960 --> 00:46:38,840
Speaker 1: helping them to fund.

1062
00:46:38,760 --> 00:46:41,279
Speaker 3: Maybe like something, Yeah, if if it's likely not to

1063
00:46:41,320 --> 00:46:43,120
Speaker 3: be used for higher education, we'll skip the five point

1064
00:46:43,200 --> 00:46:47,279
Speaker 3: nine account and find another avenue, another account to save

1065
00:46:47,320 --> 00:46:49,640
Speaker 3: it in, or help them build a save these account,

1066
00:46:49,880 --> 00:46:53,560
Speaker 3: whatever that might be. But I think you're right, Like, yeah, if,

1067
00:46:53,800 --> 00:46:55,960
Speaker 3: especially as the uncle, you might want to avoid that altogether.

1068
00:46:56,000 --> 00:46:57,520
Speaker 1: But what's done is done. The money was putting in.

1069
00:46:58,120 --> 00:47:00,000
Speaker 1: What's done is done, And that's why I'm like, I'm

1070
00:47:00,080 --> 00:47:03,000
Speaker 1: with you. I wouldn't. I wouldn't be considering liquid liquidating

1071
00:47:03,080 --> 00:47:04,440
Speaker 1: and just getting hit with that penalty.

1072
00:47:04,520 --> 00:47:06,359
Speaker 3: It just makes me think, like, if I'm trying to

1073
00:47:06,360 --> 00:47:08,000
Speaker 3: help my kids, and again, you right, I think the

1074
00:47:08,000 --> 00:47:10,440
Speaker 3: obligation of an uncle or aunt is different. But if

1075
00:47:10,480 --> 00:47:13,320
Speaker 3: I'm trying to help my kids understand saving and investing,

1076
00:47:13,360 --> 00:47:14,839
Speaker 3: and I'm like, hey, you've got this money, you can

1077
00:47:14,880 --> 00:47:16,360
Speaker 3: spend it, but there's these other things you can do

1078
00:47:16,400 --> 00:47:18,200
Speaker 3: with it too, I probably don't want to tempt them

1079
00:47:18,239 --> 00:47:20,399
Speaker 3: by taking them to like the candy store five days

1080
00:47:20,400 --> 00:47:22,799
Speaker 3: a week and being like, yeah, you probably should save

1081
00:47:22,840 --> 00:47:25,440
Speaker 3: this money, but you can spend it here if you want, right, Like,

1082
00:47:25,480 --> 00:47:28,040
Speaker 3: that's it's gonna be hard to teach that lesson if

1083
00:47:28,080 --> 00:47:31,160
Speaker 3: I'm putting that temptation in front of them constantly or consistently.

1084
00:47:31,480 --> 00:47:33,680
Speaker 3: And so I guess I just want Jordan to think

1085
00:47:33,680 --> 00:47:36,719
Speaker 3: of that as he's giving her this advice, like, hey,

1086
00:47:36,960 --> 00:47:38,680
Speaker 3: you can't. The great thing as an uncle is like

1087
00:47:38,719 --> 00:47:41,239
Speaker 3: you can teach. This can be a teaching moment for

1088
00:47:42,160 --> 00:47:45,800
Speaker 3: you with your niece, where like, yeah, it's not your responsibility,

1089
00:47:45,800 --> 00:47:47,719
Speaker 3: but you still have that influence in that ability, and

1090
00:47:47,760 --> 00:47:49,600
Speaker 3: you've put the money down to kind of help them

1091
00:47:49,640 --> 00:47:52,400
Speaker 3: make a wise decision. So maybe it's a perfect opportunity

1092
00:47:52,440 --> 00:47:54,480
Speaker 3: to be like, hey, guess what, Like this was money

1093
00:47:54,480 --> 00:47:56,640
Speaker 3: that I was saving free education doesn't look like you're

1094
00:47:56,640 --> 00:47:58,480
Speaker 3: going to school, Guess what you can turn it into?

1095
00:47:58,600 --> 00:48:00,439
Speaker 3: And guess what this can be over time, talk about

1096
00:48:00,440 --> 00:48:02,920
Speaker 3: compounding returns and talk about how that can make a

1097
00:48:02,920 --> 00:48:05,320
Speaker 3: different difference in their ability to build wealth. And maybe

1098
00:48:05,320 --> 00:48:08,000
Speaker 3: this kick starts kind of a journey of learning more

1099
00:48:08,000 --> 00:48:11,719
Speaker 3: about personal finance and kind of making contributions on the

1100
00:48:11,719 --> 00:48:14,719
Speaker 3: regular for your niece to her own roth, I ray

1101
00:48:15,160 --> 00:48:18,440
Speaker 3: not just resting on her laurels because you started saving

1102
00:48:18,440 --> 00:48:18,920
Speaker 3: for her.

1103
00:48:18,880 --> 00:48:21,320
Speaker 1: That's right. Yeah, it's all about finding those creative ways

1104
00:48:21,320 --> 00:48:24,680
Speaker 1: to impart these lessons on the next generation. But let's

1105
00:48:24,760 --> 00:48:26,680
Speaker 1: mention the beer that you and I enjoyed during our

1106
00:48:26,680 --> 00:48:30,000
Speaker 1: episode today, which was a north Woods Life. It's a

1107
00:48:30,000 --> 00:48:33,439
Speaker 1: Golden Ale by Northwood's Brewing Company. What did you think

1108
00:48:33,560 --> 00:48:35,480
Speaker 1: of this classic taste and beer.

1109
00:48:35,280 --> 00:48:36,799
Speaker 3: When we open this, you were like, this kind of

1110
00:48:37,239 --> 00:48:39,960
Speaker 3: smells like generic beer, so like beer. Yeah, it's like

1111
00:48:40,000 --> 00:48:43,520
Speaker 3: your uncle's beer, right that when he was drinking his

1112
00:48:43,560 --> 00:48:45,520
Speaker 3: but heavy or whatever it was, but it has a

1113
00:48:45,600 --> 00:48:46,360
Speaker 3: much better flavor.

1114
00:48:46,400 --> 00:48:48,000
Speaker 1: I would say it was so clean.

1115
00:48:48,160 --> 00:48:50,239
Speaker 3: Yeah, Chris, you know what it reminded me of, just

1116
00:48:50,280 --> 00:48:52,960
Speaker 3: from like a feeling perspective, like thinking a swim in

1117
00:48:52,960 --> 00:48:56,040
Speaker 3: an alpine lake, cold clear crisp.

1118
00:48:56,120 --> 00:48:58,759
Speaker 1: And as I came back during California Yeah, in the

1119
00:48:59,280 --> 00:49:01,120
Speaker 1: what do you call it the the backwoods this year

1120
00:49:01,120 --> 00:49:04,319
Speaker 1: in theas like just the back country. Yes, that's the word. Like,

1121
00:49:04,360 --> 00:49:06,080
Speaker 1: you're there in the back country swimming in a thousand

1122
00:49:06,160 --> 00:49:09,480
Speaker 1: lakes or a thousand a thousand islands, one thousand island lakes.

1123
00:49:09,560 --> 00:49:11,240
Speaker 1: How come we didn't make any thousand island.

1124
00:49:11,080 --> 00:49:14,680
Speaker 3: Jokes, race stressing, race wrestling. I did before but on

1125
00:49:14,680 --> 00:49:16,839
Speaker 3: the podcast. But uh, I think I need more chill

1126
00:49:16,880 --> 00:49:18,600
Speaker 3: beers like this in my life. I think sometimes the

1127
00:49:19,320 --> 00:49:22,040
Speaker 3: flavors get ramped up so much that it's nice to

1128
00:49:22,040 --> 00:49:28,200
Speaker 3: have something that's like just a good traditional beer that's uh,

1129
00:49:28,520 --> 00:49:31,520
Speaker 3: it's not a macro crummy lagger, but.

1130
00:49:31,560 --> 00:49:34,360
Speaker 1: It's auditional beer that's well yeah, yeah, it's got a

1131
00:49:35,040 --> 00:49:37,520
Speaker 1: speaking of craft, it's got a little fly lure, fly

1132
00:49:37,719 --> 00:49:40,120
Speaker 1: fly fishing lure, and you and I. It makes me

1133
00:49:40,120 --> 00:49:41,399
Speaker 1: think about the one time that you and I went

1134
00:49:41,440 --> 00:49:45,000
Speaker 1: fly fishing with somebody random that had had found you

1135
00:49:45,120 --> 00:49:48,239
Speaker 1: via a website that you that you had, you know,

1136
00:49:48,440 --> 00:49:49,760
Speaker 1: like twenty years.

1137
00:49:49,560 --> 00:49:52,360
Speaker 3: Ago blog from forever ago. Yeah, and he offered takets

1138
00:49:52,360 --> 00:49:54,279
Speaker 3: life fishing and we went and we were really bad

1139
00:49:54,320 --> 00:49:54,560
Speaker 3: at it.

1140
00:49:54,600 --> 00:49:56,520
Speaker 1: We were yeah, and our wives were like, who you

1141
00:49:56,520 --> 00:49:58,719
Speaker 1: going with We're like, I don't know, we're crazy. Some

1142
00:49:58,719 --> 00:50:00,480
Speaker 1: guys out on the internet. You don't hear. If you

1143
00:50:00,480 --> 00:50:04,160
Speaker 1: don't hear from us in twelve hours, notify the authorities.

1144
00:50:04,200 --> 00:50:06,960
Speaker 1: But yeah, I think they're leaning into the fly fishing thing,

1145
00:50:06,960 --> 00:50:08,480
Speaker 1: which I would love to do. I would love to

1146
00:50:08,560 --> 00:50:11,040
Speaker 1: like get into fly fishing. We both have enjoyed the

1147
00:50:11,080 --> 00:50:13,319
Speaker 1: movie A River Runs through it. Oh yeah, classic film.

1148
00:50:13,400 --> 00:50:15,319
Speaker 3: My buddy Zach actually on our recent trip caught like

1149
00:50:15,360 --> 00:50:17,160
Speaker 3: twenty fish in the matter of like two hours. Oh

1150
00:50:17,200 --> 00:50:18,840
Speaker 3: my god, And like most of the other guys caught like

1151
00:50:18,880 --> 00:50:21,399
Speaker 3: one or none. And like you, he was just telling

1152
00:50:21,440 --> 00:50:24,000
Speaker 3: me cleaning and eating them. No, we did clean and

1153
00:50:24,000 --> 00:50:27,879
Speaker 3: eat one. It's delicious, so super fresh. But the did

1154
00:50:27,880 --> 00:50:30,200
Speaker 3: you bring a frying pan because I'm sure, yeah, somebody.

1155
00:50:29,960 --> 00:50:32,239
Speaker 1: About, Yeah, you don't want to you don't want to

1156
00:50:32,239 --> 00:50:35,080
Speaker 1: boil for what that was making sure that you're cooking

1157
00:50:35,080 --> 00:50:36,960
Speaker 1: it up right there in the back country. Oh, we

1158
00:50:37,040 --> 00:50:40,360
Speaker 1: even had like spices. It was fling. But Zach, Zach skills.

1159
00:50:40,400 --> 00:50:42,279
Speaker 3: He was saying how when he was young he thought

1160
00:50:42,280 --> 00:50:43,919
Speaker 3: that whether or not you caught fish was a matter

1161
00:50:43,960 --> 00:50:45,880
Speaker 3: of luck, and then he learned by fishing with his

1162
00:50:45,960 --> 00:50:48,239
Speaker 3: uncle over many many years. That No, it's not like

1163
00:50:48,280 --> 00:50:50,000
Speaker 3: there's a lot of skill to catching the.

1164
00:50:49,960 --> 00:50:52,600
Speaker 1: Skills, So I love it. Good life lessons there as well,

1165
00:50:52,680 --> 00:50:54,680
Speaker 1: no doubt. But that's gonna be it for this episode.

1166
00:50:54,840 --> 00:50:57,440
Speaker 1: Listeners can find our show notes up at the website

1167
00:50:57,480 --> 00:50:59,680
Speaker 1: how toomoney dot com and we'll see you back here

1168
00:50:59,760 --> 00:51:03,080
Speaker 1: on Wednesday with another interview episode. Buddy, that's gonna be

1169
00:51:03,120 --> 00:51:03,959
Speaker 1: it until next time.

1170
00:51:04,080 --> 00:51:18,600
Speaker 3: Best Friends Out, best Friends Out. It's all there's all

1171
00:51:18,640 --> 00:51:21,600
Speaker 3: sorts of and most people just aren't cognizant of it.

1172
00:51:21,640 --> 00:51:24,000
Speaker 3: They're just like they just it's just you.

1173
00:51:24,239 --> 00:51:26,359
Speaker 1: You think it's kind of funny. He's awkwardy standing there.

1174
00:51:26,400 --> 00:51:28,600
Speaker 1: He looks cute, you know, he's taking a little baby

1175
00:51:28,600 --> 00:51:30,160
Speaker 1: bites like I kind of cracked up a little bit.

1176
00:51:30,160 --> 00:51:32,680
Speaker 1: But until you look at the underlying message and it, man,

1177
00:51:32,760 --> 00:51:34,560
Speaker 1: it so rubs me the wrong way. If you don't

1178
00:51:34,600 --> 00:51:36,640
Speaker 1: question those assumptions, you kind of started to buy into them.

1179
00:51:36,680 --> 00:51:39,400
Speaker 1: So yeah, yeah, it's subtenly like a half a degree

1180
00:51:39,400 --> 00:51:44,279
Speaker 1: click like away from facing challenges more head on. Yeah,