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

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

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Speaker 1: this is a listener question Monday episode and ask How

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Speaker 1: the Money episode. And we've got by great questions today,

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Speaker 1: including a listener who send in his own frugal or

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Speaker 1: cheap I'm actually really excited to talk about that one here.

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Speaker 1: In a second, We've got another one from a couple

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Speaker 1: who is talking about how to go about combining their finances.

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Speaker 1: And we also have another question about balanced transfer credit cards.

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Speaker 1: I'm looking forward to tackling those three plus a couple

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Speaker 1: of others. But first I wanted to I wanted to

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Speaker 1: share a little story with you. Holy story time with Matt,

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Speaker 1: my favorite segment of the song. So in the past,

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Speaker 1: we we've we've made out of writing checks before checks.

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Speaker 1: They're kind of going the way of the Dodo. And

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Speaker 1: literally last night I wrote a check and I'll explain

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Speaker 1: to you the story of how that happened. Uh, So

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Speaker 1: basically a long story short. I'm not going to dive

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Speaker 1: into all the details for Kate's sake, but she got

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Speaker 1: a ticket. Uh and it's a ticket that you know

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Speaker 1: like that, we couldn't contest it, like we just had

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Speaker 1: to pay it. Right some sitting down last night getting

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Speaker 1: ready to pay some bills, I pull up the site

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Speaker 1: to pay that ticket, to pay that bill, and the

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Speaker 1: credit card processing fee was twelve dollars like sometimes sometimes

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Speaker 1: with the percentage then it was it was way more

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Speaker 1: than it should have been. Just I'll just say that

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Speaker 1: it was not representative of even if I would have

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Speaker 1: gotten been able to get like massive cash back. I

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Speaker 1: did all the math, trust, but wouldn't cover it. Definitely

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Speaker 1: would not have covered it. And just the principle of

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Speaker 1: paying that much money for it to be a little

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Speaker 1: more convenient, I could not believe it. And uh, I

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Speaker 1: was looking over the form that I got in the mail,

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Speaker 1: and I saw and really fine print towards the bottom

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Speaker 1: is said that you could also mail in a paper check. Uh.

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Speaker 1: And there were no additional ease except for the price

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Speaker 1: of a stamp associated with that and the envelope. Yeah, exactly,

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Speaker 1: well then, and even the envelope came with it. Uh.

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Speaker 1: And so I wanted to mention that because again we

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Speaker 1: will often scoff at the idea of paper checks. I

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Speaker 1: think there's a lot of folks out there who may

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Speaker 1: have only ever written a couple of checks in their

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Speaker 1: entire life. But this is a good argument for keeping

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Speaker 1: some checks on hand. It's not like we're saying that

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Speaker 1: you should never write a single check again. You should

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Speaker 1: just take your check book and rip it up or

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Speaker 1: burn it or anything like that. This was a great

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Speaker 1: example of why keeping just your checkbook on hand, even

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Speaker 1: though you may not use it all that often, could

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Speaker 1: save you real money. Because I'm not gonna lie, I

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Speaker 1: was tempted to say, you know what, like, I'm just

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Speaker 1: gonna pay it and not worry about it. It's just

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Speaker 1: gonna eat the cost, so I cannot think about it.

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Speaker 1: But the principle of it just kept gnawing at me,

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Speaker 1: and I was just like, there's no way that I

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Speaker 1: can live with myself if I were to actually pay that.

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Speaker 1: So I opened the drawer, pulled out the check, wrote it,

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Speaker 1: and it's in the mail as of today. There you go. Well,

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Speaker 1: I'm with you on that usage of checks. I have

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Speaker 1: some in the drawer. The bank that I do most

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Speaker 1: of my banking with they provide free checks, and ten

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Speaker 1: years ago, oh that seems like an awesome benefit, And

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Speaker 1: now it's like, oh man, I almost never have to

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Speaker 1: actually order checks because, like you, I'm probably writing one

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Speaker 1: maybe two checks a year, Like one check book is

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Speaker 1: good for ten years, is what it feels like, exactly exactly.

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Speaker 1: But it is nice to have them on hand just

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Speaker 1: in case. And if it means being able to avoid

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Speaker 1: some frustrating fee, then I would say, yeah, break at

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Speaker 1: your checkbook, make it happen. It's old bucks. That's the

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Speaker 1: cost of a next beer. That's right, exactly speaking which

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Speaker 1: on today's episode, we're drinking a Bell's Too Hearted. This

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Speaker 1: is an American I p A and a big thanks

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Speaker 1: to our friend Chris who works for Bells, who donated

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Speaker 1: these beers to the show. Thanks to Bells, they make

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Speaker 1: great beer. So we're looking forward to having this classic

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Speaker 1: on the show. Classic. Indeed, give our thoughts on it

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Speaker 1: at the end of the episode. Classic like a check book,

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Speaker 1: old school but a little more old school, still reliable, fantastic.

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Speaker 1: All right, Well, uh let's get onto the listener questions.

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Speaker 1: Matt for anybody out there who is listening, and they're like,

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Speaker 1: I've got a question, money question. I love Matt and

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Speaker 1: Jolts to tackle. We would love to hear it and

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Speaker 1: You can submit your uhouln' at how to money dot

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Speaker 1: com and there are super simple instructions for how to

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Speaker 1: submit your question for us to take on an upcoming

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Speaker 1: episode at how to money dot com slash ask. But

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Speaker 1: let's get to the first one, and this one is

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Speaker 1: that frugal or cheap question that Matt mentioned. Hey guys,

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Speaker 1: Matt here from Phoenix, Arizona, just had a quick frugal

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Speaker 1: or cheap for you guys that I'd like to get

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Speaker 1: your opinions on. Last week, I was in a Target

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Speaker 1: store with my daughter who was twelve, and we remember

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Speaker 1: that she needed a new bike helmet, so we went

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Speaker 1: and found the bike helmets. We found one in her size.

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Speaker 1: They didn't have a huge selection, but we found one

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Speaker 1: that had a color that she liked. It was teal

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Speaker 1: and pink and it was thirty two dollars. As we

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Speaker 1: were leaving, we noticed that there was a clearance section

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Speaker 1: there on the end cap, and the exact same helmet

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Speaker 1: with a different color was on clearance. It was eleven dollars.

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Speaker 1: The difference was it was pink instead of teal and pink.

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Speaker 1: She was not super thrilled about the pink helmet, so

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Speaker 1: I had to debate with her for about ten minutes,

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Speaker 1: going over things like the two helmets are the same,

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Speaker 1: They're just different colors. One of them isn't safer than

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Speaker 1: the other one, are better than the other one. They're

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Speaker 1: literally literally exactly the same. Uh. And we're going to

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Speaker 1: get the eleven dollar one unless you want to pay

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Speaker 1: the difference between two helmets. You're welcome to do that. Um.

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Speaker 1: Like I said, took about ten minutes. Finally got her

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Speaker 1: to agree to the eleven dollar one, even though she

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Speaker 1: was not super thrilled about it. Um. Anyway, just wondering

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Speaker 1: do you think I was being frugal or cheap in

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Speaker 1: that situation? Anyway, Thanks for the show. Take care all right, Matt,

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Speaker 1: This is an easier frugal or cheap, I would say,

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Speaker 1: than buying a getting a used helmets. I was like,

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Speaker 1: what are you going to compare this, because that would

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Speaker 1: be that'd be one of those questions where you know

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Speaker 1: you're probably and you're gonna end up being cheap. You're

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Speaker 1: being a little cheap. But let's get to mass question first.

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Speaker 1: I love that he and his family they're prioritizing biking,

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Speaker 1: that of course is going to pay dividends for years

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Speaker 1: to come in so many different areas of your life.

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Speaker 1: And so yeah, your health as you bike more is

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Speaker 1: something that gets it gets you moving and off the couch.

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Speaker 1: Your relationships, not only to each other as a family,

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Speaker 1: going on family bike rides together which I did last night,

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Speaker 1: to the playground with my kiddos. It was delightful. Those

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Speaker 1: are the kind of things that help foster and build relationships.

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Speaker 1: They create just a lot of fun memories for you

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Speaker 1: and your daughter. And it's also just the relationships you

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Speaker 1: foster by getting out in your own neighborhood, seeing your neighbors,

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Speaker 1: seeing people in the front yard, stopping those chance encounters

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Speaker 1: to have a conversation. It's really it's it's tough, almost

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Speaker 1: impossible to beat all of the good things that biking

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Speaker 1: has to offer. So first I just want to say

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Speaker 1: mattness family. They're on the right track, trying to make

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Speaker 1: this just like a regular part of their lives. Oh yeah,

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Speaker 1: not to misson all the money that you can save

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Speaker 1: by not having to pay for wear and tear on

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Speaker 1: a vehicle, paying for gas, which is I mean expensive

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Speaker 1: as ever these days. Just this morning, drop the kids

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Speaker 1: off at school, that is one less trip that I

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Speaker 1: have to fund with a trip to the gas station.

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Speaker 1: But Matt, let's kind of get to your question. And

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Speaker 1: you know, I think whether it's frugal or cheap sort

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Speaker 1: of come down to a few different things. Um. First

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Speaker 1: of all, one question you can ask is whether or

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Speaker 1: not you're spending your own money on this helmet, and

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Speaker 1: you know, in your case you are, And so like,

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Speaker 1: I do totally get the disappointment that a kid feels

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Speaker 1: when they've picked something out that they love and then

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Speaker 1: the parent maybe odds for the the cheaper alternative that

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Speaker 1: maybe may not be quite as appealing to the kiddo.

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Speaker 1: But if the parents are the ones who are paying

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Speaker 1: for it, uh, and as long as you are talking

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Speaker 1: to her about the decision that you're making, then I

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Speaker 1: think that this is one reason to say that this

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Speaker 1: is definitely a frugal move, uh, not the cheap move,

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Speaker 1: because in the end, parents are the ones who are

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Speaker 1: calmed the shots here. Yeah, I agree, And I think

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Speaker 1: you're right Mat to point out the fact that he

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Speaker 1: communicated well with his daughter about it. I think if

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Speaker 1: you just said no, that's it, Like we're getting the

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Speaker 1: cheaper one. Let's get out of here. And she's left

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Speaker 1: there trying to process emotionally what happened, Like she thought

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Speaker 1: that they had picked out this bike helmet and now

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Speaker 1: she's like, I gotta go with this other one. And

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Speaker 1: but the fact that you were able to really walk

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Speaker 1: her through it and explain it to her and take

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Speaker 1: the time, I feel like that's actually the perfect uh

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Speaker 1: place to teach a money lesson, a finance lesson about

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Speaker 1: the value of money and the trade offs that we

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Speaker 1: all have to make with the money that we earn,

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Speaker 1: even though it can be hard as a parent to

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Speaker 1: teach right in the middle of that emotional moments. But

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Speaker 1: the main reason that it's frugal and not cheap is

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Speaker 1: also that you offered her the option to contribute her

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Speaker 1: own money to make up for the gap in price,

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Speaker 1: and that didn't seem to interest her, which and she

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Speaker 1: felt passionately about buying the helmet based on the color

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Speaker 1: alone and spending an extra twenty bucks or whatever the

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Speaker 1: difference was. Exactly that's the perfect opportunity for her to

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Speaker 1: use the money that she's made and to make that

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Speaker 1: a priority. And it sounds like she made a wise

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Speaker 1: choice to by not opting to do that, and by

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Speaker 1: taking a slightly inferior color. Um. But yeah, I think

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Speaker 1: these are the kind of teaching moments that parents need

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Speaker 1: to use in order to help their kids understand personal finances,

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Speaker 1: better understand the trade offs that have to be made,

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Speaker 1: because you know, they're the finite resource that money is

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Speaker 1: in all of our lives. Yeah. The other thing too,

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Speaker 1: is that there was such a difference than price, right

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Speaker 1: between the helmets that was on clearance and the one

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Speaker 1: that was in the colors that she wanted. Like, I

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Speaker 1: know that when we teach lessons they should be based

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Speaker 1: on principles, but the fact that this helmet that was

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Speaker 1: on clearance, that it was over twenty dollars more affordable,

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Speaker 1: just makes this another reason that I think, Matt, that

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Speaker 1: you made the frugal choice, because I'll be honest, there

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Speaker 1: are times when I might be tempted to kind of

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Speaker 1: just let something slide, like if it was only a

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Speaker 1: couple of bucks of difference, right, But this was an

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Speaker 1: instance where you know you made the right decision for

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Speaker 1: multiple reasons. It was the right reason from a principal standpoint,

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Speaker 1: but also to like that was real money that was

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Speaker 1: on the line, and again, your ability to talk through

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Speaker 1: that with her. Um. I think it's is super important, right,

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Speaker 1: I mean, and there's just the whole consumption side of

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Speaker 1: things too, because oftentimes the way we decide that something

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Speaker 1: has or doesn't have value is oftentimes based on price.

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Speaker 1: And I think for her starting to go down that

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Speaker 1: path of explaining to her that, like, you know, this

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Speaker 1: helmet isn't any worse or any better than the other one.

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Speaker 1: The colors are just different, and just explaining basically just

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Speaker 1: get her getting her to think through the fact that

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Speaker 1: just because something is more or less expensive doesn't make

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Speaker 1: it uh inferior or superior product, because that's what marketers

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Speaker 1: want us to believe. That's what I advertising does, right,

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Speaker 1: Like you've got the new shiny thing. And again, it

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Speaker 1: was probably in the section of the aisle where it

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Speaker 1: was organized neatly well lit, compared to the end of

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Speaker 1: the aisle. Maybe on the back side of It's kind

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Speaker 1: of like in the armpit section of Target, you know,

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Speaker 1: like where where things are all disheveled, half the products

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Speaker 1: are kind of on the ground. Um, And so you

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Speaker 1: could perceive that those are inferior products. But in this

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Speaker 1: case that was not true. Yeah, And I think you're

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Speaker 1: right at the price difference matters because twenty dollars versus

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Speaker 1: two dollars is a big difference. Like if it was

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Speaker 1: a two dollar difference and it was me and my daughter,

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Speaker 1: I'd be and she was like, but my dad, I

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Speaker 1: like that, I like this color better. I would either

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Speaker 1: ask her to pay the two bucks or I would

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Speaker 1: just pay it myself because it's two bucks. But when

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Speaker 1: it's difference, when it's like it costs over more than more,

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Speaker 1: that's the perfect reason to point out a price describancy

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Speaker 1: that's in that large and and just like going back

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Speaker 1: to you paying that ticket, it's like, if it was

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Speaker 1: a two dollar fee, I probably would have eaten it.

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Speaker 1: You would have eaten it. But when it's a twelve

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Speaker 1: dollar fee, it's like, Nope, nope, that too much. If

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Speaker 1: there's a breaking us exactly yeah, and the other thing too.

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Speaker 1: I think even being willing to like I may have

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Speaker 1: been willing to split the difference with her, right, And

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Speaker 1: so if she was just like, hey, okay, there's a

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Speaker 1: twenty dollar difference here, but this time it's only eleven bucks,

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Speaker 1: you were willing to spend thirty dollars. You know, if

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Speaker 1: like a kid had that kind of negotiating negotiation skills.

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Speaker 1: I'd be like, Okay, well that's that's pretty good argument,

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Speaker 1: good point. But I think I may have been willing

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Speaker 1: to be like, hey, I'll split the difference with you.

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Speaker 1: I will pitch in tin Bucks if you pitch into

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Speaker 1: an extra tin Bucks and get us from that eleven

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Speaker 1: dollar helmet to the thirty one dollar helmet or whatever.

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Speaker 1: But basically, I guess maybe that's the part of it

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Speaker 1: that's on my mind is the fact that he was

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Speaker 1: willing originally to buy the thirty dollar you know, plus helmet,

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Speaker 1: and so maybe a good way to kind of land

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Speaker 1: the lesson and kind of like really bring it home

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Speaker 1: is if he took that extra money that he obviously had,

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Speaker 1: he was willing to spend that on a helmet, but

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Speaker 1: then put that money towards something else, uh, to where

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Speaker 1: his daughter could see, hey, there are trade offs, just

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Speaker 1: like you said, Joel, Right, so instead of putting this

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Speaker 1: toward that helmet that you wanted, maybe he would buy

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Speaker 1: a snack in the checkoutline, or maybe once they get

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Speaker 1: home and put you know, and went for a bike ride,

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Speaker 1: maybe they go and get ice cream, but something where

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Speaker 1: he can be like, look, the reason that we're doing

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Speaker 1: this is because we got the more affordable helmet. Isn't

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Speaker 1: this great? Right? And she's like, nah, one of the

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Speaker 1: helmet that would have been better. Well, I mean whatever

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Speaker 1: it takes though to to connect the fact that there

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Speaker 1: are trade offs and there are other things that you

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Speaker 1: can do with that money, Because if she doesn't get

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Speaker 1: to realize that saved money, that's where I think the

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Speaker 1: disconnection happened. And that might be the instance where she's like, Dad,

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Speaker 1: you're so cheap, you're not being show or you're able

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Speaker 1: to max out your roth IRA this year because you

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Speaker 1: didn't buy that helmet. But now, and I gotta say, like,

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Speaker 1: this is the exact kind of thing that my parents

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Speaker 1: did when I was a kid, Like I always loved

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Speaker 1: Nike basketball shoes that usually uh a star player had

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Speaker 1: just released. Matt Scottie Pippen shoes were the best shoes

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Speaker 1: when I was in middle school, at least according to

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Speaker 1: those middle school tastes that I no longer have. But

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Speaker 1: my parents they just one they didn't have the money

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Speaker 1: to pay for those shoes. They budgeted an amount that

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Speaker 1: they really had to stick to for myself and my sisters.

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Speaker 1: When it came to like our footwear. And even if

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Speaker 1: they did have the money, I don't think they would

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Speaker 1: have bought me the fancies shoes on the block. I

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Speaker 1: just don't think that they would have allowed that to happen.

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Speaker 1: I think they had other principal reasons to avoid spending

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Speaker 1: hifty dollars on a pair of shoes, which I completely

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Speaker 1: agree with. But that allows the parent and you're like, oh,

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Speaker 1: I totally, But that meant that I had to make

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Speaker 1: a choice similar to Math's daughter, and like that I

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Speaker 1: want those shoes enough to spend my own birthday and

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Speaker 1: Christmas money on them. Like that was a big, big

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Speaker 1: choice for me as a little dude with limited funds,

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Speaker 1: and every once in a while I did. I distinctly

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Speaker 1: remember getting this one pair when I was a kid,

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Speaker 1: and they were great. But I also was like, I

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Speaker 1: can't do this every year, and every kid h at

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Speaker 1: my school or a lot of the kids in my

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Speaker 1: school have these fancy shoes. But I've got I've got

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Speaker 1: this one pair, and I'm gonna like make them last

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Speaker 1: as long as I can. But most of the time

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Speaker 1: I just had to realize I couldn't afford the fancy shoes.

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Speaker 1: It just wasn't possible I had there were other things

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Speaker 1: I wanted to buy, there were other trade offs, and

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Speaker 1: I think that is a good lesson actually, And ultimately,

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Speaker 1: it's tough to let your kid down in the moment.

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Speaker 1: They're hard lessons to teach sometimes, but they're the right

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Speaker 1: lessons in the end. And it does take a little

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Speaker 1: bit of heartbreak on occasion or just emotional difficulty to

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Speaker 1: wait through those things. But that's what parenting is all about,

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Speaker 1: and teaching the right lessons isn't always easy. Going back

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Speaker 1: to your your shoes, your sneakers example, I could totally

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Speaker 1: picture you as like a middle school kid and somebody

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Speaker 1: like kind of scuss your shoe a little bit with

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Speaker 1: some dirt and you like, lick your thumb, get down there,

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Speaker 1: like it off you like, I'll come on, man, there's

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Speaker 1: a brand new But no, I couldn't agree with you more.

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Speaker 1: And Matt, I hope we got you pointed in the

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Speaker 1: right direction. We think that you made the right decision.

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Speaker 1: But it comes down to how we go about teaching

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Speaker 1: our kids these lessons and making sure that they understand

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Speaker 1: our heart behind what it is that we're making them

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Speaker 1: do or not do, and the rules that we're imposing

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Speaker 1: on them. All right, that's just our first question. We've

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Speaker 1: got a couple more that we're gonna get to right

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Speaker 1: after the break, including one about maxing out retirement accounts.

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Speaker 1: We'll get to that one plus that relationship question right

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Speaker 1: after this. Are we're back and let's keep taking listener questions.

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Speaker 1: This one comes from a listener in California who just

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Speaker 1: got married. Hey, Joelan Matt, This is Jad I'm from

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Speaker 1: Chino Hills, California. I've been listening to you guys for

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Speaker 1: a couple of months now, and it's been a great

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Speaker 1: experience so far, and I've learned so much. So I'm

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Speaker 1: just curious to know what your guys experiences were like

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Speaker 1: at the first few months after marriage, when you're trying

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Speaker 1: to update your W four and trying to figure out

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Speaker 1: income and that situation. So, my husband and I recently

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Speaker 1: got married, and we both have student loan debt, and

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Speaker 1: I am the only one earning right now. He is

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Speaker 1: still finishing his doctorate program and will be accumulating about

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Speaker 1: three dollars worth of debt. I have about sixty dollars left,

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Speaker 1: and so whenever we get into a conversation about combining

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Speaker 1: income and combining debt, it gets a little bit it difficult.

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Speaker 1: So I'm just curious to know what your guys experience

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Speaker 1: were like. Any input will be appreciated. Thank you so

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Speaker 1: much for taking the time. Have a great day, Hey dad,

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Speaker 1: We are so glad that you are learning some stuff.

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Speaker 1: After listening to Joel and I blab on for a

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Speaker 1: few months now, people walk away from this podcast and

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Speaker 1: I haven't learned a darn thing. That means we failed.

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Speaker 1: I means we're not doing our job. But we appreciate

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Speaker 1: you listening. Uh. And let's talk about those first few

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Speaker 1: months after marriage. By the way, congrats on and getting married.

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Speaker 1: But let's get personal here for a little bit, because,

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Speaker 1: and I'm not gonna lie, this first couple of marriage

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Speaker 1: years are lovely in many respects, but there's also a

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Speaker 1: massive learning curve on not just the financial front, but

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Speaker 1: in many other areas of life. And one of the

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Speaker 1: biggest things that you're trying to figure out, of course,

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Speaker 1: is how to handle your money together. Uh. And I

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Speaker 1: think too, you know, the later in life that you

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Speaker 1: get married, the harder it can be too mesh on

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Speaker 1: this front when it comes to your money. That's why

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Speaker 1: a lot of couples to actually keep their finances separates.

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Speaker 1: But that actually is not the route that either Joel

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Speaker 1: took with his wife Emily or that I took with

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Speaker 1: my wife Kate. Yeah, we we decided, we believed, we

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Speaker 1: thought that for our marriage the best thing was to

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Speaker 1: combine finances. And like Matt said, we realize that's not

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Speaker 1: the route that everyone takes. That's not the best route

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Speaker 1: necessarily for everyone. Uh. Not everyone believes or thinks the

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Speaker 1: way we do about this, But we will offer our thoughts,

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Speaker 1: a couple of thoughts that might come across as potentially

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Speaker 1: more traditional. You can call us old school. That's okay.

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Speaker 1: But when you're combining lives, which is what marriage is,

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Speaker 1: you're really are saying like, hey, we're we're all in together.

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Speaker 1: We're also fans of combining finances. When you're deciding to

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Speaker 1: do life together, you should do finances together. Uh and

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Speaker 1: so Yeah, the later in life you're getting married, the

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Speaker 1: more difficult it is to do. Like Matt said, if

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Speaker 1: you're forty three and you've been flying solo for twenty

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Speaker 1: years and you have massively established career, I get the

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Speaker 1: reticence to combine everything, right, Like it's a little bit

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Speaker 1: different combining it twenty six versus forty six, and especially

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Speaker 1: if you're in completely different financial stratust heres. But I

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Speaker 1: gotta say I believe that things change in a big

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Speaker 1: way once you're married. You're no longer two separate entities.

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Speaker 1: You really have gone all in together, um in on

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Speaker 1: each other. And it's not to say that you can't

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Speaker 1: both have separate interests or anything like that, But when

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Speaker 1: it comes to the big things, you're unified. You're attempting

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Speaker 1: to work through things together as a unit. And I

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Speaker 1: think that this means combining everything is the best way

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Speaker 1: to go for most people. Everything from assets to liabilities,

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Speaker 1: income that you're making, to the debt that your husband's

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Speaker 1: accruing while he's still in school, those are all things

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Speaker 1: now that I would say you you're holding common Yeah, totally.

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Speaker 1: I mean jad I think it might even be helpful too,

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Speaker 1: if instead of viewing it as your student loans and

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Speaker 1: his student loans, that you just simply think of them

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Speaker 1: as like your collective debt that you both owe together.

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Speaker 1: You know, like a lot of Southerners say, you just

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Speaker 1: call it like y'all's a debt. That's what's down there

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Speaker 1: in Georgia, say, and then you know when the time

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Speaker 1: comes that your husband is contributing to the household income

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Speaker 1: like that is also the collective income of your family.

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Speaker 1: It's not going to be his income, it's your income

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Speaker 1: as well. And so, of course, I mean money, it's

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Speaker 1: really important. But when you really take a step back

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Speaker 1: here and you look at your relationship overall, money should

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Speaker 1: be a relatively small part of this big picture. You know,

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Speaker 1: we feel that there are more central aspects of a relationship,

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Speaker 1: like your commitment to each other, that are more important

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Speaker 1: to focus on now and then hopefully over time the

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Speaker 1: money differences that you have that that that those things

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Speaker 1: can be worked out. But right now, if you only

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Speaker 1: focus on the difficult conversation of just what to do

429
00:19:39,320 --> 00:19:42,320
Speaker 1: with your money and this one specific way, I'm afraid

430
00:19:42,320 --> 00:19:45,719
Speaker 1: that like you'd only be addressing one specific aspect of

431
00:19:45,720 --> 00:19:48,280
Speaker 1: your relationship instead of getting down to the core of

432
00:19:48,320 --> 00:19:50,440
Speaker 1: what it is that we want you to focus on. Yeah,

433
00:19:50,480 --> 00:19:53,359
Speaker 1: I mean, I think these money commos, especially Matt you

434
00:19:53,400 --> 00:19:55,640
Speaker 1: mentioned the early years of marriage being tough. They are

435
00:19:55,680 --> 00:19:57,360
Speaker 1: tough and getting on the same page on a whole

436
00:19:57,400 --> 00:19:59,919
Speaker 1: host of things. As you've now, like attempting to attempt

437
00:19:59,920 --> 00:20:01,840
Speaker 1: to to combine lives, like it's not going to be easy,

438
00:20:01,920 --> 00:20:04,159
Speaker 1: and it takes a lot of conversations, some trial and

439
00:20:04,280 --> 00:20:06,240
Speaker 1: error to get on the same page. You have to

440
00:20:06,280 --> 00:20:08,200
Speaker 1: work together, you have to try to find common ground.

441
00:20:08,240 --> 00:20:11,320
Speaker 1: You have to push through the difficulty and not say

442
00:20:11,720 --> 00:20:14,159
Speaker 1: that's too tough a topic, We're just never going to

443
00:20:14,240 --> 00:20:16,679
Speaker 1: get on the same page. There's still a lot of

444
00:20:16,720 --> 00:20:19,000
Speaker 1: hope that you can get on the same page, even

445
00:20:19,080 --> 00:20:21,399
Speaker 1: on a topic like money. And I would suggest to

446
00:20:21,520 --> 00:20:25,159
Speaker 1: sometimes having a third party including them in those conversations

447
00:20:25,160 --> 00:20:29,119
Speaker 1: can be helpful. Probably not like your mom, like you

448
00:20:29,160 --> 00:20:30,760
Speaker 1: don't want the mother in law to be the third

449
00:20:30,760 --> 00:20:33,360
Speaker 1: party in that combo, but it could be a trusted

450
00:20:33,400 --> 00:20:36,199
Speaker 1: older couple that you guys have bonded with, that you

451
00:20:36,240 --> 00:20:38,200
Speaker 1: have a lot of respect for and you think they

452
00:20:38,240 --> 00:20:40,919
Speaker 1: do things the way or their marriage looks kind of

453
00:20:40,960 --> 00:20:43,639
Speaker 1: like you want your marriage to look like that. Incorporating

454
00:20:43,680 --> 00:20:46,320
Speaker 1: them and asking them some of these questions and helping

455
00:20:46,440 --> 00:20:49,320
Speaker 1: letting them help guide you when it comes to a

456
00:20:49,359 --> 00:20:51,080
Speaker 1: lot of things, but money could be one of them

457
00:20:51,560 --> 00:20:53,800
Speaker 1: that could be helpful. It might even be honestly, like

458
00:20:54,200 --> 00:20:57,399
Speaker 1: a marriage therapist that could be that that might be

459
00:20:57,440 --> 00:20:59,600
Speaker 1: the right person to turn to as well. Um, but

460
00:21:00,320 --> 00:21:03,280
Speaker 1: I think it's not always easy, and it's fine to

461
00:21:03,320 --> 00:21:05,800
Speaker 1: start slow, like you don't have to get on the

462
00:21:05,840 --> 00:21:09,280
Speaker 1: same page overnight. But we would say having one account

463
00:21:09,359 --> 00:21:12,359
Speaker 1: that you both put money into for mutual bills while

464
00:21:12,600 --> 00:21:15,160
Speaker 1: at least for the time being, keeping something separate while

465
00:21:15,200 --> 00:21:18,040
Speaker 1: you're both adjusting it can make sense and you might

466
00:21:18,080 --> 00:21:20,879
Speaker 1: always keep that arrangement, but you might decide over time

467
00:21:20,920 --> 00:21:24,879
Speaker 1: to combine everything together as the years move on. Just

468
00:21:24,920 --> 00:21:28,399
Speaker 1: don't neglect to have those hard conversations because they're hard. Uh,

469
00:21:28,520 --> 00:21:31,800
Speaker 1: they are conversations that need to happen, and pushing through

470
00:21:31,840 --> 00:21:35,440
Speaker 1: those hard things actually leads to I think, better pastures

471
00:21:35,440 --> 00:21:37,600
Speaker 1: when it comes to what your marriage looks like. And

472
00:21:37,680 --> 00:21:41,520
Speaker 1: we don't often offer relationship advice here, but jad you

473
00:21:41,520 --> 00:21:43,720
Speaker 1: ask for our opinions, and this is Yeah, this is

474
00:21:43,760 --> 00:21:45,760
Speaker 1: what we have done, and this is what we believe,

475
00:21:46,280 --> 00:21:48,679
Speaker 1: at least for us. And so that's one of the

476
00:21:48,680 --> 00:21:51,600
Speaker 1: many opinions that you can gather as you seek to

477
00:21:51,640 --> 00:21:54,160
Speaker 1: have a healthy relationship with your husband. Jill. Our next

478
00:21:54,240 --> 00:21:57,359
Speaker 1: question comes from a listener who seems to be doing

479
00:21:57,400 --> 00:21:59,920
Speaker 1: a pretty good job with his money, but he does

480
00:22:00,240 --> 00:22:02,080
Speaker 1: want to make sure that he's focusing on the rights

481
00:22:02,200 --> 00:22:06,719
Speaker 1: retirement vehicle. Let's hear that question. Hey Mann, Joe Jason

482
00:22:06,800 --> 00:22:10,600
Speaker 1: returning with a question on retirement. I'm forty five, my

483
00:22:10,640 --> 00:22:14,480
Speaker 1: wife is forty four, and we have seven four thousand

484
00:22:14,520 --> 00:22:18,600
Speaker 1: dollars in retirement at this point. Two fifty nine thousand

485
00:22:18,880 --> 00:22:22,520
Speaker 1: is in a ESOP account through my employer, and the

486
00:22:22,600 --> 00:22:28,880
Speaker 1: other food is in my four oh one k question

487
00:22:29,040 --> 00:22:31,920
Speaker 1: is money gear number two match four oh one k,

488
00:22:33,000 --> 00:22:36,360
Speaker 1: and my question is versus maxing your four oh one

489
00:22:36,400 --> 00:22:41,840
Speaker 1: k uh. My employer matches cents on the dollar for

490
00:22:41,920 --> 00:22:45,119
Speaker 1: the first three thousand dollars and fifty cents on the

491
00:22:45,200 --> 00:22:50,040
Speaker 1: dollar for the next two thousand dollars. So my question

492
00:22:50,119 --> 00:22:54,280
Speaker 1: is regarding your thoughts on maxing it versus matching it?

493
00:22:55,280 --> 00:22:59,560
Speaker 1: Should I only match it and move the other money

494
00:22:59,680 --> 00:23:05,600
Speaker 1: to a roth ira A. Thanks and I appreciate your feedback.

495
00:23:06,200 --> 00:23:08,119
Speaker 1: All right, Matt, I know where I'm going. If I

496
00:23:08,200 --> 00:23:12,879
Speaker 1: need twenty bucks, I'm going I'm gonna ask Jason for money. Jason,

497
00:23:12,359 --> 00:23:15,160
Speaker 1: you your rushing, dude, You really are. You're you're you're

498
00:23:15,200 --> 00:23:18,000
Speaker 1: doing great with your money, and yeah, I'm I'm not

499
00:23:18,119 --> 00:23:21,240
Speaker 1: sure if you care, but you're well above average when

500
00:23:21,240 --> 00:23:23,080
Speaker 1: it comes to how much money you've sucked away at

501
00:23:23,119 --> 00:23:26,360
Speaker 1: your age, And so this just gives you a plethora

502
00:23:26,440 --> 00:23:29,320
Speaker 1: of options, like being able to choose how much you

503
00:23:29,359 --> 00:23:31,919
Speaker 1: want to work sooner rather than later, being able to

504
00:23:32,000 --> 00:23:35,359
Speaker 1: quit all together in the near future if you wanted

505
00:23:35,400 --> 00:23:38,399
Speaker 1: to in all likelihood, and so, yeah, depending on what

506
00:23:38,480 --> 00:23:41,159
Speaker 1: your expenses look like. Here's the thing, you might not

507
00:23:41,280 --> 00:23:45,360
Speaker 1: actually need to prioritize maxing out your four wing K contributions.

508
00:23:45,560 --> 00:23:47,520
Speaker 1: But that just really comes down to your personal goals.

509
00:23:47,760 --> 00:23:50,080
Speaker 1: And so there's definitely gonna have to be when you're

510
00:23:50,119 --> 00:23:53,080
Speaker 1: deciding how much more do I continue to stock away?

511
00:23:53,560 --> 00:23:56,639
Speaker 1: A lot of that answer is going to come down to, well,

512
00:23:56,760 --> 00:23:59,159
Speaker 1: what do you want the next fifteen years of your

513
00:23:59,200 --> 00:24:01,680
Speaker 1: life to to Like, it depends on what your personal

514
00:24:01,720 --> 00:24:03,600
Speaker 1: goals are. It depends where you want to retire, because

515
00:24:03,600 --> 00:24:06,320
Speaker 1: there's a big difference, Uh, if you're gonna retire in

516
00:24:06,480 --> 00:24:11,440
Speaker 1: San Francisco VERSUS Memphis, Tennessee or Thailand or Thailand. Yeah,

517
00:24:11,480 --> 00:24:13,639
Speaker 1: but Jason, let's let's talk about money gear number two.

518
00:24:13,640 --> 00:24:15,280
Speaker 1: You talked about the money gears, so let's kind of

519
00:24:15,359 --> 00:24:18,960
Speaker 1: use that framework here. Getting the match is the minimum

520
00:24:19,080 --> 00:24:21,000
Speaker 1: that you want to be hitting for all the folks

521
00:24:21,040 --> 00:24:22,639
Speaker 1: out there who are listening who may not have heard

522
00:24:22,840 --> 00:24:25,119
Speaker 1: us talk about the money gears before. Uh. And so

523
00:24:25,200 --> 00:24:27,720
Speaker 1: that's why it is so early on within our money gears,

524
00:24:27,960 --> 00:24:30,800
Speaker 1: getting that full match that your employer offers should be

525
00:24:30,920 --> 00:24:34,440
Speaker 1: a major priority for everyone pretty early on. Some call

526
00:24:34,520 --> 00:24:36,920
Speaker 1: it free money, others will call it, you know, part

527
00:24:36,920 --> 00:24:39,840
Speaker 1: of your benefits package that you should be taking advantage of.

528
00:24:40,160 --> 00:24:42,320
Speaker 1: But no matter how you refer to it, it's an

529
00:24:42,359 --> 00:24:46,320
Speaker 1: incredibly helpful wealth building tool that you you can't afford

530
00:24:46,359 --> 00:24:48,399
Speaker 1: to leave on the table. Uh. And honestly, it's going

531
00:24:48,440 --> 00:24:51,000
Speaker 1: to be the best most guaranteed return on your money,

532
00:24:51,320 --> 00:24:54,239
Speaker 1: uh that you'll ever realize. And so you're already doing that.

533
00:24:54,240 --> 00:24:56,480
Speaker 1: But now you're talking about whether you should continue to

534
00:24:56,640 --> 00:24:58,439
Speaker 1: fund that four O n K or if you should

535
00:24:58,600 --> 00:25:02,399
Speaker 1: instead move on to other tax advantage accounts. But before

536
00:25:02,440 --> 00:25:04,760
Speaker 1: we kind of talk about those, you kind of skipped

537
00:25:04,800 --> 00:25:07,159
Speaker 1: over money gears number three and four. And so we're

538
00:25:07,160 --> 00:25:09,080
Speaker 1: gonna assume that you do not have any high indest

539
00:25:09,160 --> 00:25:11,120
Speaker 1: rate debt. We're gonna assume that you have a fully

540
00:25:11,160 --> 00:25:14,040
Speaker 1: funded emergency fund, and then we will progress onto money

541
00:25:14,080 --> 00:25:15,720
Speaker 1: gear number five. Let's do it. Let's do it. Money

542
00:25:15,760 --> 00:25:18,440
Speaker 1: your number five. And when it comes to the order

543
00:25:18,520 --> 00:25:22,399
Speaker 1: of operations, Jason, what I'd say is contribute enough to

544
00:25:22,480 --> 00:25:25,080
Speaker 1: get the full match that you're entitled to, like Matt said,

545
00:25:25,400 --> 00:25:28,439
Speaker 1: no matter what. But after that, I'd put as much

546
00:25:28,480 --> 00:25:31,879
Speaker 1: money as I possibly could into your wrath ira A

547
00:25:32,440 --> 00:25:35,360
Speaker 1: with a goal to max that out if at all possible.

548
00:25:35,560 --> 00:25:37,399
Speaker 1: So if you can hit the match and then max

549
00:25:37,400 --> 00:25:41,680
Speaker 1: out your wrath, which the contribution limits are six thousand

550
00:25:41,680 --> 00:25:45,200
Speaker 1: dollars a year, if you are under the income threshold,

551
00:25:45,600 --> 00:25:47,760
Speaker 1: that's where you should go next. And so the reason

552
00:25:47,840 --> 00:25:49,880
Speaker 1: I would say to go with the roth IRA is

553
00:25:50,000 --> 00:25:52,879
Speaker 1: that it gives you some tax diversification because you'll be

554
00:25:52,920 --> 00:25:55,480
Speaker 1: starting to create pre and post tax buckets and that

555
00:25:55,560 --> 00:25:57,840
Speaker 1: just gives you a whole lot more flexibility to dial

556
00:25:57,920 --> 00:26:00,320
Speaker 1: in your tax rate decades down the road when you're

557
00:26:00,359 --> 00:26:03,080
Speaker 1: starting to live off of the retirement funds that you've accrued.

558
00:26:03,520 --> 00:26:06,199
Speaker 1: And my parents they're like on the verge of complete

559
00:26:06,200 --> 00:26:08,720
Speaker 1: retirement soon and we're talking about that, and just the

560
00:26:08,960 --> 00:26:12,960
Speaker 1: fact that they have almost equivalent buckets of pre and

561
00:26:13,000 --> 00:26:15,439
Speaker 1: post tax money very nice. Yeah, it just gives them

562
00:26:15,440 --> 00:26:18,240
Speaker 1: a whole lot of flexibility in what they want their

563
00:26:18,320 --> 00:26:20,639
Speaker 1: tax rate to be. They basically get to choose their

564
00:26:20,680 --> 00:26:22,840
Speaker 1: own adventure on that and I think it is a

565
00:26:22,920 --> 00:26:24,560
Speaker 1: nice place to be to at least have some pre

566
00:26:24,680 --> 00:26:26,960
Speaker 1: tax some post tax to pull from when you get

567
00:26:26,960 --> 00:26:29,120
Speaker 1: that age. Yeah, we definitely like having that diversity. Maybe

568
00:26:29,160 --> 00:26:30,840
Speaker 1: you can refer to this money gear as maybe like

569
00:26:30,840 --> 00:26:33,359
Speaker 1: money gear five A, And if that's the case, then

570
00:26:33,440 --> 00:26:36,480
Speaker 1: five B would be like after you know, if you

571
00:26:36,520 --> 00:26:38,840
Speaker 1: do max out that roth IRA and then you still

572
00:26:38,880 --> 00:26:41,000
Speaker 1: have money left over, then go back to your four

573
00:26:41,000 --> 00:26:44,280
Speaker 1: own K and then start funneling even more dollars beyond

574
00:26:44,359 --> 00:26:46,560
Speaker 1: that match level in there. So at that point you'd

575
00:26:46,600 --> 00:26:50,320
Speaker 1: be moving from match to max. And like we mentioned

576
00:26:50,320 --> 00:26:51,840
Speaker 1: at the beginning of our answer, you know that, like

577
00:26:51,840 --> 00:26:54,520
Speaker 1: there's a decent reason for you to not invest every

578
00:26:54,520 --> 00:26:57,800
Speaker 1: single dollar you possibly can. You've already built up an

579
00:26:57,800 --> 00:27:02,200
Speaker 1: excellent nest egg and it's okay to choose to incorporate

580
00:27:02,280 --> 00:27:05,680
Speaker 1: some more of those dollars into your life now, trying

581
00:27:05,720 --> 00:27:08,160
Speaker 1: to maybe strike a balance of investing for the future

582
00:27:08,440 --> 00:27:10,760
Speaker 1: and living your life to the fullest today, make sure

583
00:27:10,800 --> 00:27:13,240
Speaker 1: that you don't neglect your craft be your equivalent. You know,

584
00:27:13,280 --> 00:27:15,879
Speaker 1: we're not trying to dissuade you from the awesome investing

585
00:27:15,880 --> 00:27:17,639
Speaker 1: moves that you're making. We just want you to make

586
00:27:17,680 --> 00:27:20,480
Speaker 1: sure that you are thinking about, you know, what life

587
00:27:20,520 --> 00:27:22,320
Speaker 1: looks like now, making sure that you've got some food

588
00:27:22,359 --> 00:27:25,240
Speaker 1: for thoughts. We don't want you to over prioritize investing

589
00:27:25,240 --> 00:27:28,520
Speaker 1: for the long term because, as we all know, we're

590
00:27:28,520 --> 00:27:31,080
Speaker 1: not guaranteed tomorrow, and so you've got to find that

591
00:27:31,080 --> 00:27:33,880
Speaker 1: balance between doing things and here and now and also

592
00:27:33,960 --> 00:27:36,520
Speaker 1: doing things for the long term. Yeah, that balance so

593
00:27:36,560 --> 00:27:39,399
Speaker 1: hard to find. But it sounds like Jason has already

594
00:27:39,400 --> 00:27:42,680
Speaker 1: done an awesome job with his retirement savings, and so

595
00:27:43,000 --> 00:27:44,640
Speaker 1: there's a lot of whittle room. There are a lot

596
00:27:44,680 --> 00:27:47,080
Speaker 1: of options open to him. So Jason, best of luck

597
00:27:47,480 --> 00:27:49,800
Speaker 1: getting at least the match and then moving on investing

598
00:27:49,880 --> 00:27:52,280
Speaker 1: more from there. But Matt, we've got a couple more

599
00:27:52,359 --> 00:27:55,640
Speaker 1: questions to go to, including someone who is in retirement

600
00:27:55,720 --> 00:27:58,000
Speaker 1: and they're wondering, well, how do I now start to

601
00:27:58,000 --> 00:28:00,760
Speaker 1: pull those funds out. We'll get to question and it

602
00:28:00,800 --> 00:28:03,480
Speaker 1: involves starting to claim social security. We'll get to that

603
00:28:03,600 --> 00:28:14,879
Speaker 1: right after this break. We are back from the break

604
00:28:15,040 --> 00:28:16,720
Speaker 1: and we're gonna take a question here in a second

605
00:28:16,760 --> 00:28:20,159
Speaker 1: about credit card balance transfers. But before we get to

606
00:28:20,200 --> 00:28:24,280
Speaker 1: that one, let's take this question about retirement. Hi, Joel

607
00:28:24,320 --> 00:28:27,400
Speaker 1: and Matt, this is Sandy from Massachusetts. I'm a longtime

608
00:28:27,440 --> 00:28:31,240
Speaker 1: listener and I love your podcast. My question has to

609
00:28:31,320 --> 00:28:35,399
Speaker 1: do with retirement, not for myself, but for an older

610
00:28:35,440 --> 00:28:38,480
Speaker 1: sibling who is looking to retire sometime in the next

611
00:28:38,520 --> 00:28:43,040
Speaker 1: three to four years. We seem to have some debate

612
00:28:43,120 --> 00:28:47,040
Speaker 1: about what he should tap first and in which order.

613
00:28:48,040 --> 00:28:52,160
Speaker 1: In this case, he is questioning whether he should wait

614
00:28:52,800 --> 00:28:55,600
Speaker 1: to file for Social Security until he gets a little

615
00:28:55,600 --> 00:28:59,840
Speaker 1: closer to age seventy two and in the meantime with

616
00:29:00,120 --> 00:29:04,200
Speaker 1: draw four oh one K funds to support his lifestyle.

617
00:29:05,000 --> 00:29:08,080
Speaker 1: Other people in my family suggests he should file for

618
00:29:08,080 --> 00:29:11,120
Speaker 1: Social Security when he's sixty eight and hold off on

619
00:29:11,280 --> 00:29:14,400
Speaker 1: tapping his four oh one K. So what is the

620
00:29:14,440 --> 00:29:19,000
Speaker 1: conventional wisdom on which things you should access first when

621
00:29:19,040 --> 00:29:23,120
Speaker 1: you finally make a decision to retire. Should you prioritize

622
00:29:23,840 --> 00:29:27,560
Speaker 1: withdrawing money from say a brokerage account first, or from

623
00:29:27,600 --> 00:29:30,000
Speaker 1: a four oh one K or from a roth ira?

624
00:29:30,680 --> 00:29:33,240
Speaker 1: And how do you feel about where social Security fits

625
00:29:33,240 --> 00:29:35,240
Speaker 1: in all of this. I know this is a pretty

626
00:29:35,240 --> 00:29:38,480
Speaker 1: big topic, but any advice you have would be appreciated.

627
00:29:38,880 --> 00:29:42,560
Speaker 1: Thank you. All right, Sandy, I appreciate your question. And Matt,

628
00:29:42,600 --> 00:29:44,960
Speaker 1: let's get let's get ready with this one. It's actually

629
00:29:45,080 --> 00:29:47,720
Speaker 1: something that I've been thinking about quite a bit because

630
00:29:47,760 --> 00:29:51,520
Speaker 1: my parents are facing this exact same question about how

631
00:29:51,560 --> 00:29:55,080
Speaker 1: and when to pull money for retirement, and so I

632
00:29:55,080 --> 00:29:57,120
Speaker 1: don't know, let's go and wig in on my family

633
00:29:57,120 --> 00:29:59,640
Speaker 1: dispute and Sandy's family dispute at the same time, to

634
00:29:59,680 --> 00:30:02,320
Speaker 1: do it two birds of the ones down and waiting

635
00:30:02,360 --> 00:30:06,080
Speaker 1: to take Social Security. That is something that is it's

636
00:30:06,240 --> 00:30:09,600
Speaker 1: really really important when it comes to how you think

637
00:30:09,640 --> 00:30:13,640
Speaker 1: about income in retirement. Waiting as long as you can

638
00:30:13,680 --> 00:30:17,200
Speaker 1: to take Social Security is almost always the best way

639
00:30:17,240 --> 00:30:20,520
Speaker 1: to maximize that income in retirements. I say almost always,

640
00:30:20,560 --> 00:30:23,520
Speaker 1: because there are some circumstances where it does make sense

641
00:30:23,520 --> 00:30:26,479
Speaker 1: to take money earlier. For instance, married couples, they might

642
00:30:26,520 --> 00:30:29,480
Speaker 1: decide to start collecting one social Security payment early and

643
00:30:29,480 --> 00:30:32,960
Speaker 1: then delay taking the Social Security for the higher earning spouse.

644
00:30:33,400 --> 00:30:35,480
Speaker 1: Or you might decide that because of the state of

645
00:30:35,480 --> 00:30:38,200
Speaker 1: your health, waiting to take Social Security doesn't really make

646
00:30:38,240 --> 00:30:40,960
Speaker 1: sense for you. You Yeah, you don't want to wait

647
00:30:41,280 --> 00:30:44,000
Speaker 1: until your age seventy because you want to be able

648
00:30:44,040 --> 00:30:46,400
Speaker 1: to quit work now and you're not quite sure that

649
00:30:46,440 --> 00:30:48,640
Speaker 1: your health is going to be around for you, and

650
00:30:48,680 --> 00:30:51,520
Speaker 1: you're not going to be around potentially into your nineties.

651
00:30:51,840 --> 00:30:54,720
Speaker 1: And basically, if that provides enough income and gives you

652
00:30:54,800 --> 00:30:57,040
Speaker 1: the lifestyle choices you want, then we would say go

653
00:30:57,080 --> 00:30:59,520
Speaker 1: in that direction. But this doesn't seem to be the

654
00:30:59,520 --> 00:31:02,240
Speaker 1: case for Sandy's brother. And Sandy, You're you're asking about

655
00:31:02,240 --> 00:31:05,680
Speaker 1: pulling the right levers to maximize retirement income, which is

656
00:31:06,000 --> 00:31:08,600
Speaker 1: a nerdy conversation. We like to have soles to our

657
00:31:08,640 --> 00:31:11,160
Speaker 1: best to help your family thread that metal. You know. Also,

658
00:31:11,160 --> 00:31:13,760
Speaker 1: I wanted to say that Sandy, she mentioned age seventy

659
00:31:13,800 --> 00:31:16,840
Speaker 1: two pasand to your brother doesn't need to wait that long.

660
00:31:17,160 --> 00:31:19,360
Speaker 1: Age seventy that is the time that he should pull

661
00:31:19,360 --> 00:31:22,640
Speaker 1: the trigger in order to receive the maximum benefit possible

662
00:31:22,720 --> 00:31:26,280
Speaker 1: from Social Security. Don't wait any longer, because the benefit

663
00:31:26,280 --> 00:31:29,560
Speaker 1: actually won't get any bigger if he does. The thing

664
00:31:29,640 --> 00:31:32,040
Speaker 1: about waiting until age seventy two opt in is that

665
00:31:32,200 --> 00:31:34,680
Speaker 1: a retiree receives an additional eight percent a year in

666
00:31:34,720 --> 00:31:37,880
Speaker 1: benefit if they continue to delay. So not only will

667
00:31:37,960 --> 00:31:41,720
Speaker 1: your Social Security check be instantly bigger, but all those

668
00:31:41,720 --> 00:31:44,560
Speaker 1: costs of living adjustments will be based on that higher

669
00:31:44,600 --> 00:31:47,160
Speaker 1: amount as well. And so just yeah, I mean just

670
00:31:47,200 --> 00:31:49,080
Speaker 1: kind of take a step back, ask yourself, like, where

671
00:31:49,080 --> 00:31:52,080
Speaker 1: else can you get a guaranteed eight percent return these days?

672
00:31:52,760 --> 00:31:55,280
Speaker 1: Virtually nowhere? And you know, when you look at the

673
00:31:55,320 --> 00:31:59,440
Speaker 1: longevity likelihood people hitting that retirement age, there's a really

674
00:31:59,440 --> 00:32:03,000
Speaker 1: good chance that you actually are going to come out ahead. Yeah,

675
00:32:03,080 --> 00:32:06,440
Speaker 1: So deciding to take Social Security benefits starting at age

676
00:32:06,480 --> 00:32:10,320
Speaker 1: seventy is ideal if it's best for your situation, and

677
00:32:10,480 --> 00:32:13,800
Speaker 1: even if it means exceeding the four percent rule for

678
00:32:13,840 --> 00:32:17,200
Speaker 1: a few years so that he can delay taking Social Security,

679
00:32:17,320 --> 00:32:20,440
Speaker 1: we think that's a solid move. And for our listeners

680
00:32:20,440 --> 00:32:23,280
Speaker 1: who are like, what's the four percent rule, understandable question.

681
00:32:23,520 --> 00:32:26,400
Speaker 1: That basically states that in order to make sure that

682
00:32:26,480 --> 00:32:30,600
Speaker 1: you don't outlive the money that you've accumulated to spend

683
00:32:30,600 --> 00:32:34,240
Speaker 1: in retirement, drawing down at most four percent from those

684
00:32:34,280 --> 00:32:37,280
Speaker 1: retirement funds every year is the way that you're going

685
00:32:37,280 --> 00:32:40,360
Speaker 1: to basically ensure that you're not going to outlive your money.

686
00:32:40,400 --> 00:32:42,840
Speaker 1: But Sandy, this is actually what I am recommending to

687
00:32:42,880 --> 00:32:46,400
Speaker 1: my parents. When it comes to those other retirement accounts

688
00:32:46,440 --> 00:32:49,160
Speaker 1: in which order you'll pull money from, well, I'm okay

689
00:32:49,240 --> 00:32:51,880
Speaker 1: with them exceeding the four percent rule for a few

690
00:32:51,960 --> 00:32:55,120
Speaker 1: years in order to get that guaranteed eight percent increase

691
00:32:55,160 --> 00:32:58,200
Speaker 1: in that Social Security benefit payout. But when it comes

692
00:32:58,240 --> 00:33:01,520
Speaker 1: to those other retirement oounts and which order you're gonna

693
00:33:01,560 --> 00:33:04,400
Speaker 1: pull money from, it depends a lot on what sort

694
00:33:04,440 --> 00:33:07,280
Speaker 1: of income you have coming in. Basically, you want to

695
00:33:07,320 --> 00:33:10,440
Speaker 1: structure your withdrawals to pay the least amount of tax possible,

696
00:33:10,760 --> 00:33:12,800
Speaker 1: not just in a given year, but over an extended

697
00:33:12,840 --> 00:33:15,960
Speaker 1: period of time. Obviously you're not gonna pay tax on

698
00:33:16,120 --> 00:33:19,200
Speaker 1: roth ira A withdrawals, but if you took those all

699
00:33:19,240 --> 00:33:21,640
Speaker 1: at once, you would lose your ability to basically choose

700
00:33:21,640 --> 00:33:24,240
Speaker 1: your own tax rate in the future. So each year

701
00:33:24,280 --> 00:33:27,080
Speaker 1: you're gonna want to take some, potentially from each bucket

702
00:33:27,280 --> 00:33:30,040
Speaker 1: in order to dial in that perfect tax bill each

703
00:33:30,120 --> 00:33:33,920
Speaker 1: year for a decade or longer. Totally and look closely

704
00:33:33,920 --> 00:33:37,160
Speaker 1: to at the tax brackets and base those withdrawal amounts

705
00:33:37,760 --> 00:33:40,520
Speaker 1: in which accounts you take the withdrawals from, on which

706
00:33:40,560 --> 00:33:43,600
Speaker 1: tax bracket you want to slide into. Uh this, you

707
00:33:43,640 --> 00:33:45,520
Speaker 1: know this might be a little confusing and can get

708
00:33:45,760 --> 00:33:48,120
Speaker 1: a bit complicated. You might even want to pay some

709
00:33:48,160 --> 00:33:50,160
Speaker 1: money and spend spend a few hours with a fee

710
00:33:50,240 --> 00:33:55,480
Speaker 1: only financial professional, someone who specializes in this type of maneuver. Uh.

711
00:33:55,520 --> 00:33:58,360
Speaker 1: This is something that you can d I Y and

712
00:33:58,440 --> 00:34:01,000
Speaker 1: succeed at. And if you're trying to do this yourself,

713
00:34:01,000 --> 00:34:04,000
Speaker 1: and maybe you're looking for more reassurance as to knowing

714
00:34:04,440 --> 00:34:06,840
Speaker 1: all the different specific considerations that you need to keep

715
00:34:06,840 --> 00:34:09,200
Speaker 1: in mind when it comes to your social security, you

716
00:34:09,239 --> 00:34:12,120
Speaker 1: can go to a specific site like maximize my social

717
00:34:12,120 --> 00:34:14,600
Speaker 1: Security dot com. Uh, And that's only going to cost

718
00:34:14,640 --> 00:34:17,600
Speaker 1: your brother forty dollars and that's a good way for

719
00:34:17,680 --> 00:34:20,280
Speaker 1: him to consider all of the specifics that the Social

720
00:34:20,280 --> 00:34:24,560
Speaker 1: Security Administration will take into account as they're determining his benefits.

721
00:34:24,840 --> 00:34:26,799
Speaker 1: All right, Sandy, best of luck to you and your

722
00:34:26,840 --> 00:34:32,120
Speaker 1: brother as he nears retirement. Congrats to him one, congrats exactly.

723
00:34:32,440 --> 00:34:33,960
Speaker 1: So all right, well let's get to We got one

724
00:34:34,000 --> 00:34:36,720
Speaker 1: more question in this episode, and this one is about

725
00:34:36,920 --> 00:34:40,360
Speaker 1: credit cards. Hi. This is Will from Oakland, California. My

726
00:34:40,480 --> 00:34:45,160
Speaker 1: question is regarding balance transfers. We have a large upcoming

727
00:34:45,400 --> 00:34:50,120
Speaker 1: expense and my thought is to put it all on

728
00:34:50,160 --> 00:34:53,560
Speaker 1: a credit card and then pay half of that credit

729
00:34:53,600 --> 00:34:57,880
Speaker 1: card balance using savings from the emergency fund, and for

730
00:34:57,920 --> 00:35:01,680
Speaker 1: the other half of that balanced to use a balanced

731
00:35:01,680 --> 00:35:06,360
Speaker 1: transfer to spread out those payments over fifteen or eighteen months.

732
00:35:06,400 --> 00:35:08,520
Speaker 1: I'm wondering if you think that is a sound strategy

733
00:35:08,600 --> 00:35:13,400
Speaker 1: and if you can recommend any particular balance transfer cards

734
00:35:13,400 --> 00:35:16,000
Speaker 1: that offer the most favorable terms on the lowest fees.

735
00:35:16,400 --> 00:35:19,360
Speaker 1: Thanks so much, love the show. Bye. Hey, Well, we

736
00:35:19,440 --> 00:35:22,360
Speaker 1: appreciate you listening to the podcast, and thank you for

737
00:35:22,440 --> 00:35:25,359
Speaker 1: sending in your question. It's actually been a minute since

738
00:35:25,360 --> 00:35:27,960
Speaker 1: we've talked about balance transfer credit cards, and so I'm

739
00:35:28,000 --> 00:35:30,960
Speaker 1: excited that you asked this one. And first of all,

740
00:35:31,120 --> 00:35:33,479
Speaker 1: I wanted to address something that you mentioned. You said

741
00:35:33,480 --> 00:35:35,600
Speaker 1: that you're planning to pay for half of this upcoming

742
00:35:35,640 --> 00:35:38,920
Speaker 1: expense with your savings, but you also mentioned that it

743
00:35:38,920 --> 00:35:41,120
Speaker 1: would be coming out of your emergency fund. And I

744
00:35:41,160 --> 00:35:43,839
Speaker 1: hate to get nipicky here, You love to get nipicky, Matt,

745
00:35:44,200 --> 00:35:47,719
Speaker 1: but details are important. Uh, hopefully this was an expense

746
00:35:47,800 --> 00:35:51,480
Speaker 1: that you were able to foresee on the horizon and

747
00:35:51,480 --> 00:35:54,720
Speaker 1: you're able to actually work towards this savings goal, because

748
00:35:54,760 --> 00:35:58,120
Speaker 1: you know, big expenses like a home repair, medical procedure.

749
00:35:58,160 --> 00:36:01,480
Speaker 1: Even these are are all tie of big ticket items

750
00:36:01,480 --> 00:36:03,839
Speaker 1: that we want all the HTM or is out there

751
00:36:03,880 --> 00:36:08,000
Speaker 1: to be proactively working towards and not just completely relying

752
00:36:08,040 --> 00:36:11,280
Speaker 1: on your emergency fund for some of these irregular expenses

753
00:36:11,320 --> 00:36:13,600
Speaker 1: that come up occasionally. Yeah, exactly, we've talked about that.

754
00:36:13,640 --> 00:36:16,680
Speaker 1: We we want emergency funds to be for emergencies and

755
00:36:16,760 --> 00:36:19,520
Speaker 1: not for like oops, forgot about that. We want you

756
00:36:19,560 --> 00:36:22,880
Speaker 1: to be regularly budgeting in those those types of items.

757
00:36:22,960 --> 00:36:25,719
Speaker 1: And even if you know that's the kind of thing

758
00:36:25,760 --> 00:36:28,360
Speaker 1: that you only pay for once every two or three years,

759
00:36:28,640 --> 00:36:30,759
Speaker 1: it needs to somehow, you know, be something that you're

760
00:36:30,760 --> 00:36:33,600
Speaker 1: saving for, not just coming out of that fund, because

761
00:36:33,719 --> 00:36:36,000
Speaker 1: that's how it gets depleted more rapidly. Exactly, World Cup

762
00:36:36,000 --> 00:36:38,560
Speaker 1: tickets several years from now. I am saving for those

763
00:36:38,840 --> 00:36:41,000
Speaker 1: right now. That's the kind of thing we want a

764
00:36:41,040 --> 00:36:42,480
Speaker 1: lot of folks to be doing with when it comes

765
00:36:42,520 --> 00:36:44,200
Speaker 1: to other expenses as well. Yeah, it's not gonna be

766
00:36:44,280 --> 00:36:46,359
Speaker 1: pulled out of your fund. You've been you're saving for it,

767
00:36:46,560 --> 00:36:49,719
Speaker 1: even it's an emergency far in advance. But on the

768
00:36:49,719 --> 00:36:52,439
Speaker 1: other side of the coin, if this actually was something

769
00:36:52,480 --> 00:36:54,720
Speaker 1: that came out of nowhere, then by all means, of course,

770
00:36:54,920 --> 00:36:58,160
Speaker 1: use money out of your emergency funds. Right. These these

771
00:36:58,160 --> 00:37:02,200
Speaker 1: are the kinds of events and unforeseen expenses that emergency

772
00:37:02,200 --> 00:37:04,960
Speaker 1: funds are made for. So to some this might be

773
00:37:05,000 --> 00:37:08,040
Speaker 1: an obvious statement. It's something that you generally understand, but

774
00:37:08,080 --> 00:37:10,200
Speaker 1: once you find yourself in the heat of the moment,

775
00:37:10,600 --> 00:37:13,480
Speaker 1: it can be difficult to actually use that money for

776
00:37:13,520 --> 00:37:17,080
Speaker 1: its intended purpose. We can get so preoccupied in making

777
00:37:17,120 --> 00:37:19,799
Speaker 1: sure that we have the perfect fully funded emergency fund

778
00:37:19,800 --> 00:37:22,000
Speaker 1: in our accounts that were a little gun shy when

779
00:37:22,000 --> 00:37:24,279
Speaker 1: it comes to actually using it. We see the same

780
00:37:24,280 --> 00:37:26,920
Speaker 1: thing with our credit scores. We've worked so hard to

781
00:37:26,920 --> 00:37:29,200
Speaker 1: get it boosted into a good range, you know, we've

782
00:37:29,320 --> 00:37:31,160
Speaker 1: we've polished it up, and now it looks spotless and

783
00:37:31,160 --> 00:37:34,239
Speaker 1: the perfect. It's a perfect credit score sitting on the pedestal. Yeah,

784
00:37:34,320 --> 00:37:36,800
Speaker 1: under the glass jar, don't touch. But at that point

785
00:37:37,000 --> 00:37:40,200
Speaker 1: it's become almost meaningless, right because in the process we

786
00:37:40,239 --> 00:37:41,880
Speaker 1: forget that there's going to come a time when we

787
00:37:41,920 --> 00:37:44,520
Speaker 1: need to actually use our credit score for what it

788
00:37:44,600 --> 00:37:47,239
Speaker 1: was intended for. It's a tool in the same way

789
00:37:47,280 --> 00:37:49,719
Speaker 1: that an emergency fund is, and so let's make sure

790
00:37:49,800 --> 00:37:53,440
Speaker 1: that we keep the same perspective on both. Yep. Yeah,

791
00:37:53,480 --> 00:37:55,480
Speaker 1: so that's all important stuff. Let's go ahead and get

792
00:37:55,520 --> 00:37:58,600
Speaker 1: to like the root of Will's question here, which is

793
00:37:58,600 --> 00:38:01,600
Speaker 1: is using a balance transfer are a good strategy and

794
00:38:01,760 --> 00:38:03,759
Speaker 1: I think this would be a good idea for you.

795
00:38:03,840 --> 00:38:06,720
Speaker 1: Well only if you are not already dealing with credit

796
00:38:06,760 --> 00:38:09,239
Speaker 1: card debt. You didn't mention that this is the case

797
00:38:09,239 --> 00:38:11,759
Speaker 1: for you, and so hopefully that's not the situation you're in.

798
00:38:12,200 --> 00:38:14,040
Speaker 1: But if there's someone out there listening and they've got

799
00:38:14,080 --> 00:38:16,279
Speaker 1: a couple of cards, maybe they're carrying balances on them

800
00:38:16,320 --> 00:38:18,600
Speaker 1: months a month, then adding another credit card to the

801
00:38:18,640 --> 00:38:22,200
Speaker 1: mix most likely isn't going to solve any problems. Instead,

802
00:38:22,480 --> 00:38:24,560
Speaker 1: we you know, we think that that person needs to

803
00:38:24,760 --> 00:38:27,000
Speaker 1: get to the root of the issue, whether that means

804
00:38:27,080 --> 00:38:31,040
Speaker 1: increasing their income or most likely cutting back on their spending.

805
00:38:31,360 --> 00:38:33,799
Speaker 1: And so well, yeah, assuming you don't fall into that boat,

806
00:38:34,000 --> 00:38:35,879
Speaker 1: the only other thing that you want to make sure

807
00:38:36,360 --> 00:38:38,160
Speaker 1: is that you are being diligent to pay off that

808
00:38:38,200 --> 00:38:41,200
Speaker 1: balance within the allotted window of time that you have,

809
00:38:41,760 --> 00:38:45,360
Speaker 1: whether that's twelve months or eighteen even sometimes twenty one months,

810
00:38:46,000 --> 00:38:48,279
Speaker 1: is what some cards out there are offering. And of

811
00:38:48,320 --> 00:38:51,040
Speaker 1: course that's because that after that period of time, you

812
00:38:51,080 --> 00:38:54,239
Speaker 1: will get knocked into the variable interest rate, which you

813
00:38:54,400 --> 00:38:56,400
Speaker 1: do not want to be in for sure, and you

814
00:38:56,480 --> 00:38:58,560
Speaker 1: definitely don't want to get hit with the penalty interest

815
00:38:58,640 --> 00:39:02,360
Speaker 1: rate as well, oftentimes is even higher, and so you

816
00:39:02,400 --> 00:39:04,799
Speaker 1: can avoid that by making sure that you make at

817
00:39:04,800 --> 00:39:08,280
Speaker 1: the very least your minimum payments every month on time.

818
00:39:08,760 --> 00:39:12,440
Speaker 1: But yeah, another downside to balance transfer credit cards are

819
00:39:12,520 --> 00:39:15,600
Speaker 1: the fact that they have balance transfer fees, which are

820
00:39:15,600 --> 00:39:18,960
Speaker 1: typically three to five of the amount that you're transferring.

821
00:39:19,280 --> 00:39:21,960
Speaker 1: If you haven't been listening long, you might not know that.

822
00:39:22,000 --> 00:39:23,879
Speaker 1: Matt and I we hate fees, but we've already talked

823
00:39:23,880 --> 00:39:26,320
Speaker 1: about it on this episode, so you should know. Fees

824
00:39:26,320 --> 00:39:28,880
Speaker 1: are kind of our nemesis. But this is definitely a

825
00:39:28,880 --> 00:39:31,840
Speaker 1: big reason to avoid balance transfers if at all possible.

826
00:39:32,080 --> 00:39:35,920
Speaker 1: You know, paying five on a ten transfer, that's a

827
00:39:36,040 --> 00:39:38,239
Speaker 1: lot of money. That's real money right there. Yeah, you

828
00:39:38,239 --> 00:39:40,440
Speaker 1: don't want you doing that, but yeah, if you just

829
00:39:40,520 --> 00:39:43,439
Speaker 1: don't have the money on hand, then fortunately there are

830
00:39:43,560 --> 00:39:47,120
Speaker 1: some cards that don't charge this balance transfer fee. Specifically,

831
00:39:47,120 --> 00:39:50,080
Speaker 1: look to your local credit union, as oftentimes you'll find

832
00:39:50,120 --> 00:39:53,719
Speaker 1: the best options there, But even a nationwide credit union

833
00:39:53,800 --> 00:39:56,640
Speaker 1: like Navy Federal has an option where you can avoid

834
00:39:56,640 --> 00:39:59,360
Speaker 1: those fees too. We'll link to that specific card in

835
00:39:59,400 --> 00:40:01,960
Speaker 1: our show notes. We also have an updated article on

836
00:40:02,000 --> 00:40:04,600
Speaker 1: how money dot Com for you to find the balance

837
00:40:04,719 --> 00:40:07,080
Speaker 1: transfer cards with the best terms, because, like we said,

838
00:40:07,160 --> 00:40:09,440
Speaker 1: the terms can vary and it can make hundreds and

839
00:40:09,520 --> 00:40:11,880
Speaker 1: hundreds of dollars worth of difference. You want to make

840
00:40:11,880 --> 00:40:14,239
Speaker 1: sure you're avoiding fees at every turn. So yeah, we'll

841
00:40:14,280 --> 00:40:16,160
Speaker 1: put a link to that article and to that card

842
00:40:16,320 --> 00:40:18,200
Speaker 1: up on our site. Because you want to make sure

843
00:40:18,239 --> 00:40:21,040
Speaker 1: you're getting the right product if you are going to

844
00:40:21,040 --> 00:40:23,240
Speaker 1: opt for a balance transfer card of it, like Matt said,

845
00:40:23,400 --> 00:40:25,440
Speaker 1: when it comes down to it, cutting your spending to

846
00:40:25,440 --> 00:40:28,600
Speaker 1: make sure that balance transfer cards don't have a place

847
00:40:28,600 --> 00:40:31,520
Speaker 1: in your future, is is the best move? Yes? Most definitely.

848
00:40:31,560 --> 00:40:33,960
Speaker 1: All right, that's gonna be for questions, Joe, Let's go

849
00:40:33,960 --> 00:40:35,160
Speaker 1: ahead and get to the beer that you and I

850
00:40:35,239 --> 00:40:39,000
Speaker 1: enjoyed on this episode, which was a Bell's Too Hearted Ale.

851
00:40:39,560 --> 00:40:41,400
Speaker 1: This is an American I p a and I will

852
00:40:41,440 --> 00:40:44,000
Speaker 1: go ahead and kick this off. I can't say just

853
00:40:44,239 --> 00:40:47,480
Speaker 1: too hard at Ale because it's always been Bell Bell's

854
00:40:47,520 --> 00:40:50,000
Speaker 1: Too Hearted. I don't know if that's just because I

855
00:40:50,000 --> 00:40:52,239
Speaker 1: didn't know of any other Bells beers at the time.

856
00:40:52,680 --> 00:40:54,640
Speaker 1: It's when I when I first came up on this beer,

857
00:40:54,680 --> 00:40:56,759
Speaker 1: I would always call it a Bell's too hearted. And

858
00:40:56,760 --> 00:40:59,320
Speaker 1: so that's a brief history of Matt and his relationship

859
00:40:59,360 --> 00:41:02,040
Speaker 1: to this beer. Yeah. I mean, this beer has been

860
00:41:02,080 --> 00:41:05,640
Speaker 1: around quite a long time, and when it was released,

861
00:41:05,640 --> 00:41:08,120
Speaker 1: it was basically like one of the best I pas

862
00:41:08,160 --> 00:41:12,040
Speaker 1: out there because there were so few good beers. It

863
00:41:12,160 --> 00:41:14,920
Speaker 1: was back in like the craft beer dark ages, basically

864
00:41:15,000 --> 00:41:17,600
Speaker 1: like it was like Sierra Nevada and or no, like

865
00:41:17,600 --> 00:41:20,200
Speaker 1: twenty years ago. The girls in Sierra Nevada have been

866
00:41:20,239 --> 00:41:22,640
Speaker 1: around a really long time and they really kicked off

867
00:41:22,680 --> 00:41:25,680
Speaker 1: the whole craftier revolution. So and I think this is

868
00:41:25,719 --> 00:41:29,600
Speaker 1: still a really solid beer. It has like it's it's

869
00:41:29,600 --> 00:41:32,759
Speaker 1: more of like the piney than the fruity vibes going on.

870
00:41:33,080 --> 00:41:35,840
Speaker 1: But I kind of appreciate that. It's it's not a

871
00:41:35,880 --> 00:41:38,560
Speaker 1: style that I gravitate towards as much as I used to,

872
00:41:39,000 --> 00:41:41,000
Speaker 1: but this is still a delicious beer. It's kind of

873
00:41:41,000 --> 00:41:45,040
Speaker 1: got slightly biscuity vibes going on along with the pine

874
00:41:45,360 --> 00:41:47,560
Speaker 1: and so yeah, I don't know, I really I like

875
00:41:47,680 --> 00:41:50,960
Speaker 1: this beer, probably because of the nostalgia, but it's also

876
00:41:51,040 --> 00:41:53,840
Speaker 1: Dude's still tasty. Yes, the nostalgia with this beer is

877
00:41:53,880 --> 00:41:55,880
Speaker 1: incredibly strong. Like I can't drink this beer and not

878
00:41:56,000 --> 00:41:59,319
Speaker 1: think I'm sitting in Soba, which is our local Vietnamese

879
00:41:59,560 --> 00:42:01,560
Speaker 1: dive restaurant if you want to get some fun. It's

880
00:42:01,560 --> 00:42:03,960
Speaker 1: basically like the closest restaurant to us UH in East

881
00:42:04,000 --> 00:42:06,839
Speaker 1: Atlanta where you can get some fun and every single time,

882
00:42:06,880 --> 00:42:08,200
Speaker 1: like it makes me think of so many date nights

883
00:42:08,239 --> 00:42:10,080
Speaker 1: when Kate and I would go there. She would get

884
00:42:10,080 --> 00:42:12,080
Speaker 1: a bowl of I would get the thirty one. I

885
00:42:12,120 --> 00:42:15,480
Speaker 1: think that's the pork with the rice so good, but

886
00:42:15,560 --> 00:42:17,879
Speaker 1: we would each get a glass of Bells too hard,

887
00:42:17,960 --> 00:42:20,520
Speaker 1: and now you're making me hungry. It's it's such a

888
00:42:20,520 --> 00:42:23,040
Speaker 1: great combination. It's really taking me a bag. But yeah,

889
00:42:23,040 --> 00:42:24,839
Speaker 1: this is a classic beer. You mentioned the pine notes,

890
00:42:24,880 --> 00:42:26,359
Speaker 1: the great fruit notes, I feel like kind of stand

891
00:42:26,400 --> 00:42:28,759
Speaker 1: out with this beer as well, and it led just

892
00:42:28,800 --> 00:42:30,920
Speaker 1: generally speaking to that West Coast I p A style

893
00:42:31,040 --> 00:42:33,200
Speaker 1: that had a lot of those like more great fruit,

894
00:42:33,480 --> 00:42:35,759
Speaker 1: pithy kind of notes that you found in those West

895
00:42:35,760 --> 00:42:37,360
Speaker 1: Coast I p A s. But this is a solid,

896
00:42:37,400 --> 00:42:40,880
Speaker 1: well balanced a little bit malty, but mostly happy. Ale

897
00:42:41,280 --> 00:42:44,400
Speaker 1: I am incredibly grateful that Chris donated this one to

898
00:42:44,520 --> 00:42:46,840
Speaker 1: the show. Bells is always going to have a spot

899
00:42:46,880 --> 00:42:50,719
Speaker 1: in our our beer fridge, especially when it's empty. There's

900
00:42:50,800 --> 00:42:52,719
Speaker 1: a lot more room in there, but that's gonna be

901
00:42:52,719 --> 00:42:54,759
Speaker 1: it for this episode. Listeners can find our show notes

902
00:42:54,840 --> 00:42:56,479
Speaker 1: up on our website at how the money dot com.

903
00:42:56,719 --> 00:42:58,480
Speaker 1: Will make sure to link to any of the different

904
00:42:58,520 --> 00:43:02,360
Speaker 1: resources or wings that we mentioned during this episode, no

905
00:43:02,480 --> 00:43:06,040
Speaker 1: doubt so. Until next time, best Friends Out, Best Friends Out,