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

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Speaker 1: and today we're answering your listener questions. Yeah, buddy, and

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Speaker 1: this is episode ten. I just saw that which sounds

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Speaker 1: like sounds like it's time for a mid morning break.

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Speaker 1: You know you hear ten forty five. That's when that's

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Speaker 1: when the folks used to step out of the office

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Speaker 1: to go for a smoke break. Oh back in another

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Speaker 1: mad Men era. Well, I mean I'm even thinking about

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Speaker 1: my first corporate job out of college. Oh really, yeah,

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Speaker 1: working out at an ad agency. Like a few ladies

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Speaker 1: would always got to your desk at nine and ten

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Speaker 1: forty five was the time. It was felt allow. I

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Speaker 1: guess so, because they would always come by and kind

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Speaker 1: of tap on the door, and one of the other

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Speaker 1: ladies would go, what's funny did you ever you eat? Well,

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Speaker 1: you can share what you want to share of one

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Speaker 1: of my kelbergers. I used to smoke a little bit. Yeah,

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Speaker 1: I was gonna ask did you take did you would

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Speaker 1: you take smoke breaks? No? Twenty years ago? No, like

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Speaker 1: way back, I wouldn't do it at work. That one

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Speaker 1: felt one I didn't want to smell at work, and

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Speaker 1: then two it also just these ladies did not care.

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Speaker 1: They didn't care. Yeah, but my buddy, Uh, the increased

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Speaker 1: productivity that nicotine can provide, does that offset the time

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Speaker 1: that smokers take? So maybe it's a wash. I was

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Speaker 1: wondering that because I have some friends who are doing

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Speaker 1: the nicotine gum. Are there the kids listening to this podcast?

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Speaker 1: We do not endorse using nicotine. Yeah, but I have

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Speaker 1: specifically smoked, specifically smoking, but who are getting more into

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Speaker 1: like the the pouches and there's like dissolvable uh, nicotine substances, pouches,

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Speaker 1: the gum. From a productivity standpoint, I think it does

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Speaker 1: help them focus at work. I'm crazy. I don't want

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Speaker 1: to be beholden to any substance. No, that's the kind

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Speaker 1: of except for a little bit of craft beer, except

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Speaker 1: for coffee. But yeah, I guess that's from that standpoint,

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Speaker 1: I'm gonna and it just it gets expensive. Yeah, it's

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Speaker 1: like one more thing that I can just not have

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Speaker 1: to worry about on the rig. I was gonna say

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Speaker 1: that one of my uh, I was working as a

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Speaker 1: graphic designer. One of my co designers, Brian, him and

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Speaker 1: I we would always get annoyed because they're taking like

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Speaker 1: multiple breaks a day, and it's like, you know what,

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Speaker 1: at least once a week you and I should roll

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Speaker 1: in here with our pipes because we're like it was

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Speaker 1: kind of hip to smoke a pipe back then, and

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Speaker 1: so once a week we'd go and like sit for

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Speaker 1: thirty forty five minutes for a quote unquote smoke break

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Speaker 1: and have like philosophical conversations. Put all your smoke breaks

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Speaker 1: into one long one. Yeah, I mean that being said,

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Speaker 1: they're down there for like ten, twelve, thirteen minutes, So

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Speaker 1: I don't know, I believe it, but uh what we

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Speaker 1: are way off, Tanjia, dude, this is an ask how

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Speaker 1: the Money episode, and maybe we will actually get to

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Speaker 1: some listener questions. Like a listener is looking to avoid

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Speaker 1: getting tripped up paying credit card interest. He wants like

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Speaker 1: all of the good that you can receive from a

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Speaker 1: credit card without any of the bad. We're going to

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Speaker 1: talk about the best time to get a he lock.

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Speaker 1: This listener she's contemplating a renovation, so that plays into

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Speaker 1: to what our answer is going to be. Another listener

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Speaker 1: he's thinking about how solar how getting solar panels might

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Speaker 1: aid in his ability to retire sooner. So yeah, we'll

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Speaker 1: get to those plus a couple more during today's episode.

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Speaker 1: There we go, and we will avoid any additional smoking

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Speaker 1: talk or any other vices that folks might participate. Try

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Speaker 1: to avoid it. Although we are going to drink a

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Speaker 1: craft beer on this episode. This one's we do. It's

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Speaker 1: complicated being a wizard. We'll give our thoughts on this

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Speaker 1: one at the end of the episode. Real quick, Matt,

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Speaker 1: I wanted to speA can of smoking a pipe. It's

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Speaker 1: complicated wizards, right, like Gandalf. Well, I went to the

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Speaker 1: thrift store recently that's near my house that I hadn't

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Speaker 1: been to before. There's one that's like super close to

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Speaker 1: my house, but then there's one that's a little further away.

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Speaker 1: I went to the one that's a little further away

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Speaker 1: because some people had said that's the best thrift store

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Speaker 1: in town. I was like, okay, I'll check it out.

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Speaker 1: Was it and it was great? It was a really

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Speaker 1: good thrift story. Was it? Which one is that? It's

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Speaker 1: called City Thrift? Oh? Yeah? Is that a Is that

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Speaker 1: a national chain of either stores? Don't think it is

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Speaker 1: like good Will. It seems like a smaller one like

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Speaker 1: it America's Thrift and good will are bigger. I haven't

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Speaker 1: seen any other city thrift locations of this particular one,

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Speaker 1: but there probably are. But the reason I went there

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Speaker 1: was because sadly we have a funeral to attend this weekend,

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Speaker 1: and my little dude, he we needed to get him

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Speaker 1: like a sports coat. And I was like, man, how

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Speaker 1: much is a sports go gonna cost my buying it

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Speaker 1: brand new? And how often is he actually gonna wear

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Speaker 1: this thing? Probably never again, And so that's the time

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Speaker 1: when the thrift storm makes most sense. Oh yeah, right,

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Speaker 1: totally agree, And so we got him a great one.

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Speaker 1: It was either five or six dollars, I don't remember,

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Speaker 1: but it doesn't matter five or six bucks. It's the

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Speaker 1: same thing, so good, so much cheaper. He was so

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Speaker 1: pumped and going to like J Crew for kindergartener's. Yes,

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Speaker 1: we basically got him a whole funeral outfit. He already

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Speaker 1: had like some dark pants that were good there, but

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Speaker 1: we got him a shirt, some dark shoes and then

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Speaker 1: that and the whole total walking out got a dressed

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Speaker 1: for my daughter was like twenty six dollars for everything

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Speaker 1: all in the guy. I even got myself a new

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Speaker 1: tie because I used tie I guess it's all used

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Speaker 1: there for two dollars and nine cents. Hey, that's not

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Speaker 1: always the case, actually, because sometimes you'll find stuff with

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Speaker 1: tags on it, things that have never ever been worn before.

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Speaker 1: That always blows my mind. The shoes we looked like

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Speaker 1: they've been worn once. Probably they probably had been. Yeah,

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Speaker 1: honestly so, which is kind of crazy. So don't forget

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Speaker 1: about the thirst source. The other thing that I saw

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Speaker 1: there was just a ton of Halloween costumes. I was like,

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Speaker 1: oh my gosh, that's surprising. Yeah, there were a lot,

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Speaker 1: like multiple racks of Halloween costs. I wonder if they

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Speaker 1: if they like hang onto them in the back and

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Speaker 1: then they pull them outs. Oh, probably at the beginning

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Speaker 1: of October, because I would think that you would see

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Speaker 1: more Halloween costumes after Halloween, or like at the beginning

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Speaker 1: of the year when folks are kind of cleaning out

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Speaker 1: the house a little bit. They're like, Oh, I'm gonna

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Speaker 1: hang onto this because I'm gonna wear it again, and

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Speaker 1: then January rolls around They're like, I'm not gonna wear

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Speaker 1: this again, right, let's put this on the donate pile.

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Speaker 1: But that would be a smart thing to do. It

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Speaker 1: sounds like a free market sort of innovative, capitalistic maneuver

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Speaker 1: that this city was it city thrift, city thrift. I

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Speaker 1: want to look it up. Yeah, check just word of

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Speaker 1: the lies. If your local thrift store has solid Halloween

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Speaker 1: costume options, it's probably worth checking out if you want

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Speaker 1: to get something kind of much cheaper, actually made, not

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Speaker 1: not homemade, not homespun. You like the homemade costume. We

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Speaker 1: do some homemade stuff, but it just depends on what

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Speaker 1: the kids have going on. You want to just reuse

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Speaker 1: costumes from prior years, assuming no one like I just

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Speaker 1: how many times have I worn my Turtles costume? Have

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Speaker 1: you done the costume recently? Over the past couple of

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Speaker 1: years when when the kids were younger, we dressed up

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Speaker 1: more with them. Do the themed family? Maybe I'll bring

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Speaker 1: it back this year. I'll be Michaelangelo. Got to do

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Speaker 1: the new Michaelangelo TMNT. How do you create a costume

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Speaker 1: that looks like that graphic novel? I don't know. Style.

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Speaker 1: That's the big question, because you're gonna look like Michael

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Speaker 1: Angelo from like the eighties throwback. He looks say soft

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Speaker 1: and plushy. I was gonna say one other way that

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Speaker 1: three store when it really shines is when you have

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Speaker 1: a preteen who doesn't totally understand her own style yet

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Speaker 1: and is trying out different things, trying different looks. How

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Speaker 1: much more affordable is it to do it there than

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Speaker 1: items new, and when they may not, you know, they

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Speaker 1: might wear them like twice, right, and then it's just like, oh, yeah,

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Speaker 1: I don't really like that anymore. She came home the

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Speaker 1: other day with bootcut jeans, which is something we had

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Speaker 1: talked about recently. She's like, what's something from when y'all

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Speaker 1: were younger. I guess we're talking specifically about style that

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Speaker 1: we don't do anymore. And I was just like, well,

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Speaker 1: I just think called boot cut jeans. Although bootcut jeans

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Speaker 1: are kind of back to like cut the size of

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Speaker 1: our job.

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Speaker 2: You know.

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Speaker 1: I explained that to her. I was just like, we

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Speaker 1: used to even do that to make it even wider,

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Speaker 1: said that they would fit over your tennis shoes, and

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Speaker 1: she's like, no way. I was like, yeah, that's how

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Speaker 1: we used to do it back twenty years ago. Take

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Speaker 1: me back to thirty years two thousand and two, Yeah

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Speaker 1: is when, Yeah, I think it was the last time

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Speaker 1: I had some bootcuts nice anyway. Yeah, Threet starves for

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Speaker 1: the wind, don't sleep on the thirft store. All right,

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Speaker 1: let's get to your questions. If you have a money question,

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Speaker 1: go to how to money dot com slash ask. It's

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Speaker 1: pretty simple to record the voice memo on the app

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Speaker 1: of your phone send it over our way. Hopefully we

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Speaker 1: can take your question next week on the show. Now

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Speaker 1: let's get to a question specifically about paying off a

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Speaker 1: credit card doing it in the smartest way possible.

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Speaker 3: Hey, Matt and Joel, this has been from Grand Rapids.

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Speaker 3: Thanks so much for all that you're doing with the podcast.

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Speaker 3: Been following along for about six years now and your

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Speaker 3: resource has been a huge part of my journey.

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Speaker 4: Already. Quick question for you guys.

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Speaker 3: So I use a Capital one Venture card and I

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Speaker 3: treat it like a debit card. I paid off in

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Speaker 3: full and just enjoy the rewards and the fraud protection

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Speaker 3: from it.

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Speaker 4: My question is about auto pay.

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Speaker 3: So for years I've had it set to autopay the

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Speaker 3: statement balance, which is really the only thing that they

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Speaker 3: kind of offer within Capital One. But since the current

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Speaker 3: balance is usually higher than the statement balance, I often

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Speaker 3: end up making a manual payment for the current balance

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Speaker 3: and then canceling the auto pay, so it doesn't double pay.

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Speaker 3: I'm not even sure if Capital one would allow that,

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Speaker 3: but it's yeah. I think I do it mostly out

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Speaker 3: of fear and trying to avoid interests. So my question

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Speaker 3: is am I overthinking this? If I just let the

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Speaker 3: auto pay handle the statement balance, does it ensure that

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Speaker 3: it'll never be charged interest? Or do I need to

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Speaker 3: manually pay the current balance each time to truly avoid interest?

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Speaker 4: If so, is there a way to automatically do that.

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Speaker 3: In Capital One that I'm not aware of, because it

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Speaker 3: appears that only the statement balance is the allowed thing

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Speaker 3: to choose for auto pay. So yeah, I'd love to

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Speaker 3: know if the statement balance autopay option is enough or

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Speaker 3: if I'm right to worry about the difference between statement

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Speaker 3: and current balance.

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Speaker 4: So thanks a ton for you to help. Guys really

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Speaker 4: appreciate the sh All.

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Speaker 1: Right, Ben, short answer, it is enough, but that doesn't

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Speaker 1: mean that you shouldn't be worrying about it. There's other

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Speaker 1: things to think about here, so we want you to

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Speaker 1: worry constantly. Ben, don't be stressed, but we do want

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Speaker 1: you to to think about it. I do love, though,

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Speaker 1: that you are using your credit card like a debit card.

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Speaker 1: You know he's got a general healthy skepticism towards his

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Speaker 1: credit card, which I think is a It's a good,

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Speaker 1: healthy approach, and that is warranted because half the folks

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Speaker 1: who use their credit cards, they don't treat their credit

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Speaker 1: cards with care. They're not paying attention because they find

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Speaker 1: themselves in recurring credit card debt. And so having the

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Speaker 1: attitude Ben that you have is going to be what

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Speaker 1: keeps you in the fifty percent of folks who use

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Speaker 1: their credit cards well. And he specifically outlined the benefits there.

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Speaker 1: I talked about the fraud protection, the rewards that makes

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Speaker 1: using credit cards wisely so worth it. Yeah, I agree.

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Speaker 1: We call them the Golden Rules of plastic on our

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Speaker 1: website at how toomoney dot com. If you're interested in

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Speaker 1: kind of reading up what when it's okay to use

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Speaker 1: a credit card? We're okay with credit cards, but only

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Speaker 1: if you use them this smart way. And Matt, most

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Speaker 1: folks they know about their rewards, the two percent cash

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Speaker 1: back right, or the travel rewards that you can get

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Speaker 1: from using a credit card. But I think most people

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Speaker 1: don't understand the value of fraud protection that credit cards

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Speaker 1: can provide. And I love the Bend highlighted that. So

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Speaker 1: just real quick. I wanted to just mention credit cards.

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Speaker 1: They come with superior legal protections against fraud so that

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Speaker 1: you aren't liable if you lose your credit card and

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Speaker 1: someone else uses it as if they were you. So

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Speaker 1: you drop it on the pavement, someone else picks up

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Speaker 1: and they're like, ooh goodie, I'm going to Aldi. They're

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Speaker 1: probably going somewhere else to spend even more money, but

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Speaker 1: I'm going to Aldi. You get my groceries on the thing, Well,

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Speaker 1: that Aldi trip is not on you, whereas if someone

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Speaker 1: used your debit card, you are either if you don't

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Speaker 1: catch it in time, you could be on the hook

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Speaker 1: for some or all of that expense. And you're also

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Speaker 1: trying to call your own money back as opposed to

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Speaker 1: with a credit card you are. You're not out the money.

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Speaker 1: It hasn't left your accountant. So it is just another

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Speaker 1: reason that we like credit cards as a method of

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Speaker 1: payment if you can use them in a healthy way. Yeah.

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Speaker 1: By the way, one of the reasons you don't go

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Speaker 1: to Aldie uh to use somebody else's card is because

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Speaker 1: they've got the camera set up. Now, Yeah, they got

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Speaker 1: the on the self checkout. It's like a high def

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Speaker 1: really nice picture of your face as you're there scanning

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Speaker 1: your you get caught. Yeah, but you're talking about the

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Speaker 1: front protection. This is actually something I don't think i've uh,

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Speaker 1: I haven't shared this yet on the show. I have

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Speaker 1: previously mentioned a car rental company that did not hold

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Speaker 1: my car rental reservation that I had made, so we

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Speaker 1: won't get into all that. And so they had canceled

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Speaker 1: the uh that reservation and I, you know, rebooked with

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Speaker 1: a different provider and they said, all right, you know

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Speaker 1: you can cancel and that will show back up on

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Speaker 1: your your I did the paid in full in order

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Speaker 1: to get the biggest discount at the time. That will

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Speaker 1: show back up on your card in like three to

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Speaker 1: five business days. Guess what never happened. They never refunded me.

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Speaker 1: They never credited me the amount, dude. And so it

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Speaker 1: was like two weeks later that I remembered and I

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Speaker 1: checked my statement. It still wasn't there. So I guess

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Speaker 1: what I did hopped on there. And at this point

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Speaker 1: in time, there's no way that I was gonna like

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Speaker 1: I'm sure I could have reached out to them and

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Speaker 1: been like, hey, guys, how come this is a giant company.

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Speaker 1: They had already treated me incredibly poorly. So I went

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Speaker 1: over onto the credit card on the online portal, flagged

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Speaker 1: that charge and it just had a nice option there.

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Speaker 1: As one of the reasons it was the fact that, oh,

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Speaker 1: this is something that had been canceled. It's not like

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Speaker 1: it didn't I feel like it used to say, please

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Speaker 1: reach out to the business first, but they're just like, oh,

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Speaker 1: did you was this a charge that should have been

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Speaker 1: canceled or refunded? And I was like yes, and they're like, cool,

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Speaker 1: we got your back. Be in touch, and they immediately

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Speaker 1: credited my account by that nine hundred bucks. Yeah. And

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Speaker 1: then it took them like over a month, I want

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Speaker 1: to say, almost two months of them evidently reaching out

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Speaker 1: to budget to see if they would be able to

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Speaker 1: be able to provide the money anyway. The temporary credit

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Speaker 1: was there that entire time, and I wasn't not that

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Speaker 1: money until they officially got it back. And of course

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Speaker 1: I didn't really care because in my mind it was

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Speaker 1: all it was already back in my account. But for

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Speaker 1: them to have done that for me, it was wonderful.

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Speaker 1: That's so great. It's an undervalued characteristic that credit cards offer. Yeah,

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Speaker 1: it's not often that you have to put it to use.

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Speaker 1: But man, I'm certainly glad that I was able to

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Speaker 1: do that then, as opposed to being forced to have

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Speaker 1: to manually claw back my own money. Where had I

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Speaker 1: put that on a debit card? For sure, you also

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Speaker 1: can get great rental car insurance through your credit card

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Speaker 1: as well, if you use the right credit card. That's true.

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Speaker 1: Let's talk about statement balances versus current balances. That's really

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Speaker 1: the heart of Ben's question here. He says, really which

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Speaker 1: one makes sense, and he's going through the manual way

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Speaker 1: to pay the current balance instead of just the statement balance. Well,

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Speaker 1: your credit card billing cycle, it closes it basically the

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Speaker 1: same time every month, and then you are responsible for

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Speaker 1: paying that balance by the d date, and if you do,

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Speaker 1: you're avoiding the most nefarious feature of credit cards, paying

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Speaker 1: those high interest rates, which have of course gotten worse

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Speaker 1: in recent months. And so auto paying the statement balance

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Speaker 1: is a great way to go, and it makes the

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Speaker 1: most sense for most folks because as long as you

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Speaker 1: get the money sitting in your bank account, it's this

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Speaker 1: seamless transaction happening behind the scenes that you don't have

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Speaker 1: to worry about. And we don't. I don't know if

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Speaker 1: a credit card issue issu're math that allows you to

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Speaker 1: auto pay your current balance as opposed to the statement balance.

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Speaker 1: I don't think it's the thing, probably because the current

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Speaker 1: balance is always changing multiple times a day for many people,

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Speaker 1: so still paying that statement balance, it's good enough for

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Speaker 1: most folks and they really shouldn't need to go any

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Speaker 1: further or pay that current balance like Ben is keen

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Speaker 1: to do. Yeah, yeah, you can't choose minimum balance, but

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Speaker 1: we wouldn't recommend you do that. That's the wrong option.

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Speaker 1: I think Ben's just worried that something's going to happen

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Speaker 1: and he's going to be charged interest, which is why

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Speaker 1: he is manually going in there. He's paying that current

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Speaker 1: balance each month. You don't need to do that. You

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Speaker 1: will avoid the downsides of credit card if you allow

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Speaker 1: that audit pay to go through. But that being said,

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Speaker 1: there are some perks to taking your approach as well.

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Speaker 1: And one of the benefits here is that you're giving

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Speaker 1: a potential boost to your credit score. So that balance

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Speaker 1: being reported to the credit bureaus is going to be smaller,

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Speaker 1: which lowers your credit utilization rate, which increases your score

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Speaker 1: over time. So if your score is just okay, and

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Speaker 1: this is something that you're trying to focus on increasing,

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Speaker 1: then this can be an effective tactic to essentially keep

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Speaker 1: that running, that revolving balance to a minimum. So I

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Speaker 1: normally pay the statement balance Matt and just kind of

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Speaker 1: have it, let it automatically be paid every single month

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Speaker 1: unless I make a really big purchase. Yeah, because when

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Speaker 1: I make a really big purchase, that's when I'm like, oh,

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Speaker 1: what was your latest really big purchase job. I'm trying

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Speaker 1: remember what it was. You were talking thousands of dollars there, right,

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Speaker 1: Like if you're like, oh, like if you're booking a trip,

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Speaker 1: perhaps booking a trip maybe so maybe a bunch of

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Speaker 1: flights or something like that, or a car rental. If

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Speaker 1: there's something that is like a little bit out of

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Speaker 1: the ordinary and I don't want it to impact that

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Speaker 1: credit credit utilization ratio, I will just manually go in

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Speaker 1: there and it's you know, I probably don't need to

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Speaker 1: And is it really gonna impact my score all that much?

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Speaker 1: Probably not. And even if it does impact it by

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Speaker 1: a few points, will it bounce back pretty quickly? Yeah? Probably,

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Speaker 1: but little I don't like towing the line though, Yeah,

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Speaker 1: I don't like even getting close, you know, you just

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Speaker 1: I just like to make sure that I'm not gonna, yeah,

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Speaker 1: gonna go anywhere near that line. J'all bounce in there,

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Speaker 1: pay it off real quick, get or done with. I

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Speaker 1: think there's also something powerful about taking things off autopilot,

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Speaker 1: and there's something really great about autopiloting certain things in

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Speaker 1: our lives. But a lot of people opt for auto

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Speaker 1: pay and then they don't ever look at their credit

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Speaker 1: card statements, so they're just not regularly being confronted by

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Speaker 1: their spending habits. And you know, maybe they consistently have

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Speaker 1: enough money in the bank to cover their statement balance

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Speaker 1: to be able to pay that off on time and

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Speaker 1: in full without having to worry about whether or not

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Speaker 1: they can pay it or it's going to impact their

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Speaker 1: credit score. Maybe their credit card limit is so high

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Speaker 1: that they're not even getting anywhere close to that territory,

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Speaker 1: and so they're like, yeah, statement balance done, I don't

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Speaker 1: have to even think about it. They are avoiding maybe

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Speaker 1: the worst parts of credit cards, interest in late payments.

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Speaker 1: But if those people were to log in and were

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Speaker 1: to be confronted with their spending on a monthly basis,

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Speaker 1: if they were to look at the actual transactions and

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Speaker 1: then they were to manually, I think, pay that credit

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Speaker 1: card bill instead of just letting it auto pay. I

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Speaker 1: think maybe for some folks it would wake them up

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Speaker 1: just some of the spending choices that they're making that

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Speaker 1: aren't in their best interests. And so, yeah, do you

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Speaker 1: need to manually log in and feel the pain viscerally

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Speaker 1: in order to be a smart credit card user? No,

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Speaker 1: but it could be a helpful psychological trick. I think

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Speaker 1: for some folks to go in there every now and

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Speaker 1: again more often than they currently are. And I do

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Speaker 1: think that it could to some positive benefits. Totally. Yeah,

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Speaker 1: and I don't I don't think this is quite what

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Speaker 1: Ben's doing. But he's mentioning going in there and canceling

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Speaker 1: the like the auto draft, the auto payment that's that's scheduled.

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Speaker 1: Hopefully he's not completely unscheduling it and then like rescheduling

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Speaker 1: it or something like that. I think he's just going

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Speaker 1: in there for that particular payment. But essentially he's got

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Speaker 1: it there as like a safety net, I think, right,

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Speaker 1: so just in case he does, you know, if it

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Speaker 1: slips his mind, that it will get taken care of.

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Speaker 1: But I think for a lot of folks, it is

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Speaker 1: a good safety mechanism to have that autopay on in

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Speaker 1: case you forget or things get busy, maybe just slips

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Speaker 1: your mind and you don't close out that month. And

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Speaker 1: for that reason now it's I would recommend keep that

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Speaker 1: keep that autopay on. I guess that's the thing that

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Speaker 1: worries me. If he's going in there and manually paying

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Speaker 1: and he takes off auto pay and he forgets to

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Speaker 1: manually pay, I think he's canceling that particular one because

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Speaker 1: like the way it's set up, it's it feels. I

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Speaker 1: think it's just I don't so I don't personally do autopay.

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Speaker 1: I like living life on the edge. Ben I uh,

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Speaker 1: So you put a calendar reminder to go in every

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Speaker 1: single month and May at the end of the month,

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Speaker 1: I go in there and I close out the month

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Speaker 1: with my different cards, and I schedule the payment. Don't

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Speaker 1: even I don't actually make the payment, but I schedule

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Speaker 1: it based on the current balance of the previous calendar month.

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Speaker 1: And because I don't like being partnered with my money

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Speaker 1: sooner than I have to do, I'll always schedule it

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Speaker 1: for one day before when it's actually due, which maximizes

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Speaker 1: that the time that that money is sitting in my

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Speaker 1: own account earning that interest. Baby, there you go. Yeah,

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Speaker 1: so yeah, I guess Ben, really, yeah, you don't have

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Speaker 1: to change your habits. And if this is working for you,

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Speaker 1: go for it. And maybe this is just creating more

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Speaker 1: insight to your money and it's kind of fueling that

430
00:19:35,440 --> 00:19:38,359
Speaker 1: drive to make progress with your finances, to spend less

431
00:19:38,359 --> 00:19:41,199
Speaker 1: and to save more. That's great. But also know that

432
00:19:41,240 --> 00:19:45,080
Speaker 1: you can choose that statement balance option if you want

433
00:19:45,119 --> 00:19:47,760
Speaker 1: to make your life a little simpler, and you'll be

434
00:19:47,800 --> 00:19:49,600
Speaker 1: okay if you do that too. All Right, we got

435
00:19:49,640 --> 00:19:52,399
Speaker 1: more to get to on this episode, including how do

436
00:19:52,520 --> 00:19:55,160
Speaker 1: you convince your parents to make better financial decisions. We'll

437
00:19:55,200 --> 00:20:05,560
Speaker 1: discuss that and more right after this. We are back

438
00:20:05,560 --> 00:20:07,800
Speaker 1: from the break and we will get to that relational

439
00:20:08,040 --> 00:20:11,560
Speaker 1: money question here in a second. But Joel, let's first

440
00:20:11,640 --> 00:20:14,160
Speaker 1: hear from a listener who is wanting to make sure

441
00:20:14,160 --> 00:20:17,639
Speaker 1: that she is nailing the timing when it comes to

442
00:20:18,280 --> 00:20:19,440
Speaker 1: applying for helock.

443
00:20:20,359 --> 00:20:23,120
Speaker 2: Hey, Matt, Joel, this is current from upstate New York.

444
00:20:23,520 --> 00:20:25,399
Speaker 2: I have a question about the right time to get

445
00:20:25,440 --> 00:20:29,240
Speaker 2: a heelock. Here's my situation. I am fairly confident that

446
00:20:29,280 --> 00:20:31,840
Speaker 2: I'm going to be laid off from my job sometime

447
00:20:31,960 --> 00:20:34,760
Speaker 2: in the next three to five months, but no worries

448
00:20:34,800 --> 00:20:37,840
Speaker 2: about that. We're very lucky. My family is in money

449
00:20:37,840 --> 00:20:41,200
Speaker 2: gear seven, and honestly, I have been thinking about leaving

450
00:20:41,200 --> 00:20:43,199
Speaker 2: my job for a couple of years now, but I

451
00:20:43,240 --> 00:20:45,800
Speaker 2: was never able to go through it, So it's probably

452
00:20:45,840 --> 00:20:48,399
Speaker 2: going to be a really good thing for me. The

453
00:20:48,440 --> 00:20:50,600
Speaker 2: thing is, my wife and I have been noodling with

454
00:20:50,640 --> 00:20:54,159
Speaker 2: the idea of a significant home renovation. We have no

455
00:20:54,280 --> 00:20:57,800
Speaker 2: immediate or specific plans, but it's something we'll probably want

456
00:20:57,840 --> 00:21:00,399
Speaker 2: to do sometime in the next five or ten year years.

457
00:21:01,240 --> 00:21:03,879
Speaker 2: Right now, I have a high income at my job,

458
00:21:04,200 --> 00:21:07,359
Speaker 2: and after I'm laid off, I don't anticipate getting another job.

459
00:21:07,880 --> 00:21:09,720
Speaker 2: We have two young kids at home, so I'll be

460
00:21:09,760 --> 00:21:12,720
Speaker 2: focused on them and running the household. My wife will

461
00:21:12,760 --> 00:21:15,400
Speaker 2: likely go back to work, mostly for the health insurance,

462
00:21:15,640 --> 00:21:18,920
Speaker 2: but her income will be significantly less than mine is now.

463
00:21:19,920 --> 00:21:22,240
Speaker 2: So would it make sense to get a heelock now

464
00:21:22,359 --> 00:21:25,600
Speaker 2: while my income is still high? Or am I overthinking

465
00:21:25,640 --> 00:21:28,680
Speaker 2: it since our future renovation plans are still so fuzzy.

466
00:21:29,320 --> 00:21:31,320
Speaker 2: I just don't want to lose out on good financing

467
00:21:31,320 --> 00:21:34,879
Speaker 2: opportunities once our W two income drops. But it seems

468
00:21:34,880 --> 00:21:37,680
Speaker 2: a little silly to fuss over a home renovation project

469
00:21:37,680 --> 00:21:40,000
Speaker 2: that may not ever even happen. So I'm kind of

470
00:21:40,080 --> 00:21:42,960
Speaker 2: leaning toward doing nothing now. But I'm very curious for

471
00:21:43,040 --> 00:21:43,600
Speaker 2: your thoughts.

472
00:21:43,800 --> 00:21:45,320
Speaker 4: Thanks very much, Matt.

473
00:21:45,359 --> 00:21:48,560
Speaker 1: It's very rare that you hear someone say I'm probably

474
00:21:48,560 --> 00:21:50,639
Speaker 1: going to get laid off in a few months, but no, biggie,

475
00:21:50,880 --> 00:21:53,679
Speaker 1: someone who's in such great spirits. That is the power

476
00:21:54,119 --> 00:21:57,280
Speaker 1: I think of financial responsibility over a long period of time,

477
00:21:57,320 --> 00:22:00,760
Speaker 1: which Karin and her partner have obviously, oh yeah, taking

478
00:22:00,760 --> 00:22:02,280
Speaker 1: a heart like they have taken a lot of steps.

479
00:22:02,280 --> 00:22:04,960
Speaker 1: They're in money year seven, so they have a lot

480
00:22:05,000 --> 00:22:07,600
Speaker 1: of options to say, yeah, I'll probably get laid off

481
00:22:07,640 --> 00:22:10,080
Speaker 1: and it'll be okay, and actually we're gonna have less

482
00:22:10,080 --> 00:22:12,360
Speaker 1: income coming in, but we can still afford a renovation.

483
00:22:12,480 --> 00:22:14,640
Speaker 1: We'll figure it out. Yeah. I mean, clearly they've done

484
00:22:14,680 --> 00:22:16,440
Speaker 1: a lot of work to get to the point yeah,

485
00:22:16,440 --> 00:22:19,159
Speaker 1: that they're at. So like she was also, she was

486
00:22:19,200 --> 00:22:22,080
Speaker 1: just like, I didn't really like that job anyway. It's

487
00:22:22,080 --> 00:22:24,040
Speaker 1: like already something that she was thinking about. And so

488
00:22:24,560 --> 00:22:26,840
Speaker 1: I think it's yeah, again, she's just in an amazing

489
00:22:26,920 --> 00:22:29,960
Speaker 1: position to be able to have the financial standing to

490
00:22:30,119 --> 00:22:33,359
Speaker 1: take that traditionally very bad news and get stride. Well,

491
00:22:33,359 --> 00:22:35,040
Speaker 1: if you don't love your job and you're kind of

492
00:22:35,080 --> 00:22:37,600
Speaker 1: ready to leave, but you can kind of see the

493
00:22:37,600 --> 00:22:41,040
Speaker 1: storm clouds on the horizon, getting laid off is the

494
00:22:41,080 --> 00:22:44,960
Speaker 1: best way to go oftentimes because you're able to negotiate

495
00:22:44,960 --> 00:22:47,200
Speaker 1: a severance package on the way out the door, Whereas

496
00:22:47,200 --> 00:22:49,960
Speaker 1: if you just leave of your own volition, you're just like, well,

497
00:22:49,960 --> 00:22:51,719
Speaker 1: all right, see yah, yeah, and then they're like, well,

498
00:22:51,720 --> 00:22:54,040
Speaker 1: we're going to lay you off next month, but okay, sure,

499
00:22:54,040 --> 00:22:56,200
Speaker 1: if you want to go now, that's great. So maybe

500
00:22:56,240 --> 00:22:58,480
Speaker 1: waiting a little bit longer is the perfect way to

501
00:22:58,560 --> 00:23:01,600
Speaker 1: do this. And the Sam Dogan who writes at Financial Samurai,

502
00:23:01,640 --> 00:23:04,919
Speaker 1: he's written about this extensively, the concept of engineering and

503
00:23:04,960 --> 00:23:08,600
Speaker 1: negotiating a layoff. His situation was a little unique working

504
00:23:08,600 --> 00:23:11,160
Speaker 1: in Silicon Valley, but still I think there's some stuff

505
00:23:11,160 --> 00:23:13,760
Speaker 1: that we can extrapolate as individuals when it comes to

506
00:23:14,520 --> 00:23:18,320
Speaker 1: trying to negotiate leaving our employer if we're so inclined.

507
00:23:18,359 --> 00:23:21,760
Speaker 1: And obviously Krinn is in the financial position to be

508
00:23:21,800 --> 00:23:25,280
Speaker 1: able to do this well, that's right. We're big fans

509
00:23:25,320 --> 00:23:28,959
Speaker 1: of helocks by the way home equity line of credit,

510
00:23:29,440 --> 00:23:33,000
Speaker 1: but similar to credit cards, I'm only for it if

511
00:23:33,040 --> 00:23:35,479
Speaker 1: you use them properly, and generally speaking, I would love

512
00:23:35,520 --> 00:23:38,080
Speaker 1: to see many more homeowners out there having access to

513
00:23:38,119 --> 00:23:41,240
Speaker 1: a helock but opting not to use it. Not unlike

514
00:23:41,280 --> 00:23:43,760
Speaker 1: how we use the credit that's available to us via

515
00:23:43,760 --> 00:23:46,399
Speaker 1: our cards. It can almost like function as like a

516
00:23:46,440 --> 00:23:51,159
Speaker 1: backup emergency fund of sorts. Certainly having one is no

517
00:23:51,240 --> 00:23:53,520
Speaker 1: excuse to not have gone through the money gears and

518
00:23:53,560 --> 00:23:56,720
Speaker 1: actually amassed a decent chunk of savings, and with a

519
00:23:56,720 --> 00:23:59,080
Speaker 1: big chunk of savings on hand and hopefully roth ira

520
00:23:59,400 --> 00:24:02,080
Speaker 1: contribution that you could potentially draw on were you to,

521
00:24:02,320 --> 00:24:03,960
Speaker 1: you know, were you to be in a pinch, you

522
00:24:04,080 --> 00:24:07,840
Speaker 1: never have to actually tap that helock for emergency purposes.

523
00:24:07,840 --> 00:24:12,000
Speaker 1: But still, since having access to one costs you essentially nothing,

524
00:24:12,480 --> 00:24:15,000
Speaker 1: I think Karin raises a just a good point as to,

525
00:24:15,080 --> 00:24:17,879
Speaker 1: you know, why not, like, why not pursue this product? Well,

526
00:24:17,920 --> 00:24:20,880
Speaker 1: I think the reason why the helock makes more sense

527
00:24:20,920 --> 00:24:23,119
Speaker 1: to have than so many other financial products is because

528
00:24:23,240 --> 00:24:26,520
Speaker 1: you're not paying interest on it unless you actually tap that,

529
00:24:26,760 --> 00:24:29,359
Speaker 1: so it's like get the helock. You don't actually pay

530
00:24:29,400 --> 00:24:32,560
Speaker 1: typically any closing costs or pay any money to open

531
00:24:32,560 --> 00:24:34,879
Speaker 1: the helock, and then if you never take any of

532
00:24:34,920 --> 00:24:37,399
Speaker 1: the money out, you do it just fine. You just

533
00:24:37,440 --> 00:24:39,920
Speaker 1: had it there as a just in case account and

534
00:24:40,040 --> 00:24:42,320
Speaker 1: hopefully you never have to use it. But Karin does

535
00:24:42,400 --> 00:24:44,879
Speaker 1: want to tap her helock, which is also fine, and

536
00:24:45,160 --> 00:24:48,480
Speaker 1: doing a home renovation, that's a reasonable use of that product.

537
00:24:48,880 --> 00:24:52,159
Speaker 1: We would say that it's why not go for a

538
00:24:52,200 --> 00:24:54,880
Speaker 1: helock if you have a plan to pay it off

539
00:24:54,920 --> 00:24:57,520
Speaker 1: in a reasonable amount of time. We would ideally want

540
00:24:57,560 --> 00:25:00,000
Speaker 1: you to be able to pay it off within five years,

541
00:25:00,280 --> 00:25:02,720
Speaker 1: but that's the longest timeline that we want you to

542
00:25:02,720 --> 00:25:05,280
Speaker 1: consider if you're taking out money on a helock. Otherwise

543
00:25:05,280 --> 00:25:07,720
Speaker 1: you're taking on too much risk. And so good news

544
00:25:07,760 --> 00:25:09,919
Speaker 1: is rates are likely to go down on your heelock

545
00:25:10,119 --> 00:25:14,199
Speaker 1: over the coming months and maybe years, making it easier

546
00:25:14,200 --> 00:25:17,760
Speaker 1: to pay off over time. But the real question is here,

547
00:25:17,960 --> 00:25:20,000
Speaker 1: when should she take the helock out? And we would

548
00:25:20,000 --> 00:25:23,480
Speaker 1: say do it now, and that is because while you're

549
00:25:23,480 --> 00:25:26,320
Speaker 1: gainfully employed, you're likely to get the best terms you've got.

550
00:25:27,119 --> 00:25:30,200
Speaker 1: If you lost your job next week, credit unions and

551
00:25:30,240 --> 00:25:31,920
Speaker 1: banks they might tell you to take a hike. Hey,

552
00:25:31,960 --> 00:25:33,879
Speaker 1: guess what, you don't have enough income to justify us

553
00:25:33,960 --> 00:25:36,120
Speaker 1: giving you this loan, even though you might not need

554
00:25:36,119 --> 00:25:37,439
Speaker 1: it for five or ten years. Like, they're not going

555
00:25:37,480 --> 00:25:38,800
Speaker 1: to listen to that. They're going to look at what's

556
00:25:38,840 --> 00:25:40,800
Speaker 1: currently going on with your finances, and if you don't

557
00:25:40,800 --> 00:25:43,320
Speaker 1: have a paycheck coming in, they might turn you away.

558
00:25:43,640 --> 00:25:46,920
Speaker 1: Some lenders will underwrite based on assets, but many won't.

559
00:25:46,960 --> 00:25:49,480
Speaker 1: So I just say, don't risk it, because you could

560
00:25:49,480 --> 00:25:52,239
Speaker 1: find yourself in a position where you want access to

561
00:25:52,920 --> 00:25:55,359
Speaker 1: some of your home equity and you don't have it.

562
00:25:55,760 --> 00:25:58,720
Speaker 1: Why not while the sun is shining open the account.

563
00:25:59,119 --> 00:26:00,680
Speaker 1: It makes you think, am out of a friend who

564
00:26:00,760 --> 00:26:03,040
Speaker 1: just lost his job and he's trying to close on

565
00:26:03,240 --> 00:26:06,359
Speaker 1: a house, and it just throws all of the just

566
00:26:06,400 --> 00:26:09,160
Speaker 1: a ton of wrenches into the gears of his ability

567
00:26:09,200 --> 00:26:12,160
Speaker 1: to do this. And so yeah, while you have the job,

568
00:26:12,680 --> 00:26:16,320
Speaker 1: established this account, and then you can always choose to

569
00:26:16,720 --> 00:26:19,600
Speaker 1: not use it because Corin's prudent here when it comes

570
00:26:19,640 --> 00:26:21,800
Speaker 1: to finance, so she's not gonna screw this up totally. Yeah,

571
00:26:21,840 --> 00:26:24,240
Speaker 1: there's no real downside to getting the loan now and

572
00:26:24,280 --> 00:26:26,879
Speaker 1: not using it, even if you don't actually use it

573
00:26:26,920 --> 00:26:28,879
Speaker 1: for the renovation, you know, she says, well, what's the

574
00:26:28,880 --> 00:26:31,760
Speaker 1: point and fussing with this If this isn't a renovation

575
00:26:31,840 --> 00:26:34,880
Speaker 1: that actually takes place, well, there's not really much downside,

576
00:26:34,880 --> 00:26:37,280
Speaker 1: So go ahead and get it, even though even if

577
00:26:37,720 --> 00:26:40,639
Speaker 1: the home renovation isn't something that you that you end

578
00:26:40,760 --> 00:26:43,080
Speaker 1: up doing. Now, on that note, I love how flexible

579
00:26:43,080 --> 00:26:46,200
Speaker 1: you are with this potential home renovation because you said,

580
00:26:46,400 --> 00:26:48,760
Speaker 1: like that this might be something that happens a decade

581
00:26:48,920 --> 00:26:52,480
Speaker 1: down the line, or maybe even not, like not at all,

582
00:26:52,680 --> 00:26:54,360
Speaker 1: Like that's a lot of wiggle room, and a lot

583
00:26:54,400 --> 00:26:57,960
Speaker 1: can happen in that sort of time frame, including saving

584
00:26:58,040 --> 00:26:59,760
Speaker 1: up a bunch of money to pay for this renovation

585
00:26:59,760 --> 00:27:02,240
Speaker 1: with Yeah, so you know, while I think it makes

586
00:27:02,280 --> 00:27:04,159
Speaker 1: sense to go ahead and get a helock now for

587
00:27:04,200 --> 00:27:06,520
Speaker 1: the other reasons we mentioned, just know that you might

588
00:27:06,560 --> 00:27:09,879
Speaker 1: be able to completely avoid tapping it, or maybe you

589
00:27:09,920 --> 00:27:11,959
Speaker 1: just need it for a small amount of the remaining

590
00:27:11,960 --> 00:27:14,440
Speaker 1: balance of the of the reno because you thought, all right,

591
00:27:14,800 --> 00:27:16,840
Speaker 1: we were able to save up the vast majority of it.

592
00:27:16,920 --> 00:27:17,640
Speaker 4: But then you.

593
00:27:17,560 --> 00:27:19,439
Speaker 1: Said, oh, you know what, let's go ahead, let's go

594
00:27:19,440 --> 00:27:21,680
Speaker 1: with the nicer, the nicer tile. Oh, let's go ahead

595
00:27:21,680 --> 00:27:23,119
Speaker 1: and add this as well, and you end up spending

596
00:27:23,119 --> 00:27:24,800
Speaker 1: maybe a little bit more and you're thinking, all right,

597
00:27:24,800 --> 00:27:27,840
Speaker 1: we'll shoot it actually did pay off to get the

598
00:27:27,880 --> 00:27:30,160
Speaker 1: helocky next we have twenty extra grain right now. Oh wait,

599
00:27:30,200 --> 00:27:31,760
Speaker 1: we have the heelock Oh wait, we do, and we

600
00:27:31,760 --> 00:27:33,720
Speaker 1: can pay that junck off in you know, nine to

601
00:27:33,720 --> 00:27:36,360
Speaker 1: twelve months something like that exactly. So I think that

602
00:27:36,359 --> 00:27:39,919
Speaker 1: that's a wise move. And just again that timeframe is

603
00:27:40,240 --> 00:27:42,680
Speaker 1: it's great that you've got so much flexibility there too,

604
00:27:42,760 --> 00:27:46,320
Speaker 1: because I will say, as adults, like I think are like,

605
00:27:46,359 --> 00:27:48,159
Speaker 1: we know our typical needs and what it is that

606
00:27:48,160 --> 00:27:50,960
Speaker 1: we're looking for if we're looking to renovate a home.

607
00:27:50,960 --> 00:27:53,720
Speaker 1: But when you have kids, do kids relative to adults,

608
00:27:53,800 --> 00:27:56,760
Speaker 1: kids are very dynamic as far as their interests, the

609
00:27:56,840 --> 00:27:59,480
Speaker 1: kind of space is that they're looking for, or like

610
00:27:59,520 --> 00:28:01,720
Speaker 1: the kind of hobbies it might be be interested in.

611
00:28:02,200 --> 00:28:06,000
Speaker 1: And that doesn't even account for possibly moving for schools,

612
00:28:06,080 --> 00:28:09,000
Speaker 1: right Like, as adults, I don't know, when I was younger,

613
00:28:09,040 --> 00:28:11,360
Speaker 1: I didn't consider it at all the school district other

614
00:28:11,400 --> 00:28:13,720
Speaker 1: than like, oh yeah, this is just generally speaking a

615
00:28:13,760 --> 00:28:16,280
Speaker 1: good school district, so I know that that's probably good

616
00:28:16,440 --> 00:28:18,520
Speaker 1: for home values, but there are other considerations that go

617
00:28:18,560 --> 00:28:20,720
Speaker 1: into that when you actually have a kid who you

618
00:28:20,800 --> 00:28:23,199
Speaker 1: are putting in a particular school, and where it is

619
00:28:23,240 --> 00:28:25,240
Speaker 1: you live has a large impact on the type of

620
00:28:25,240 --> 00:28:27,040
Speaker 1: school that you're in, So that could be something that

621
00:28:27,119 --> 00:28:29,359
Speaker 1: ends up happening down the road as well.

622
00:28:29,480 --> 00:28:29,760
Speaker 4: Kurrent.

623
00:28:29,880 --> 00:28:32,600
Speaker 1: So, like you said, this might be a renovation that

624
00:28:32,680 --> 00:28:35,600
Speaker 1: happens in a couple of years, or it might never happen.

625
00:28:36,000 --> 00:28:38,960
Speaker 1: But having the option to be able to tap that

626
00:28:39,000 --> 00:28:41,680
Speaker 1: helock for various reasons, I think is a good idea.

627
00:28:41,920 --> 00:28:44,400
Speaker 1: And man, just briefly, maybe we should mention shopping for

628
00:28:44,440 --> 00:28:48,120
Speaker 1: a helock, get quotes at different lenders, and a credit union,

629
00:28:48,160 --> 00:28:50,080
Speaker 1: a local credit union might be your best bet, but

630
00:28:50,120 --> 00:28:52,440
Speaker 1: chop around get a few different quotes. You can typically

631
00:28:52,440 --> 00:28:54,959
Speaker 1: do that from the comfort of your home online, just

632
00:28:55,360 --> 00:28:58,520
Speaker 1: going to a few different websites for lenders near you.

633
00:28:58,960 --> 00:29:01,400
Speaker 1: And because that's that's important too, that's we talk about

634
00:29:01,440 --> 00:29:04,200
Speaker 1: that when we're talking about financing a home, getting a mortgage.

635
00:29:04,280 --> 00:29:06,920
Speaker 1: But the same is true with he rates and fees

636
00:29:06,960 --> 00:29:10,360
Speaker 1: are going to differ by different lenders, So yeah, make

637
00:29:10,360 --> 00:29:11,840
Speaker 1: sure you do your due diligence on the front end.

638
00:29:11,880 --> 00:29:15,880
Speaker 1: There let's get to another question. This one is from

639
00:29:15,960 --> 00:29:19,840
Speaker 1: a listener who thinks that solar power might help him

640
00:29:19,960 --> 00:29:21,960
Speaker 1: retire sooner. I'm at in Joel.

641
00:29:21,960 --> 00:29:24,520
Speaker 5: My name is Jacob, and I'm calling from Western Pennsylvania.

642
00:29:24,600 --> 00:29:25,680
Speaker 4: I'm fifty one years old.

643
00:29:25,680 --> 00:29:27,600
Speaker 5: I make about two hundred thousand a year. I have

644
00:29:28,200 --> 00:29:32,240
Speaker 5: roughly one point five million saved for retirement, plus one

645
00:29:32,320 --> 00:29:35,080
Speaker 5: hundred and fifty in high yield savings. I still have

646
00:29:35,160 --> 00:29:37,440
Speaker 5: about three hundred thousand left of my mortgage, but it's

647
00:29:37,520 --> 00:29:40,720
Speaker 5: a low interest rate, so I'm not paying it off early.

648
00:29:40,920 --> 00:29:43,160
Speaker 5: I'd like to retire in the next five to fifteen years,

649
00:29:43,200 --> 00:29:46,959
Speaker 5: depending on a lot of different things. Here's my question.

650
00:29:47,120 --> 00:29:49,480
Speaker 5: Our electric bill runs about four hundred dollars a month.

651
00:29:50,520 --> 00:29:54,560
Speaker 5: Solar contractors say a solar system to cover ninety percent

652
00:29:54,560 --> 00:29:57,720
Speaker 5: of our usage would cost about seventy thousand dollars. After

653
00:29:57,760 --> 00:29:59,760
Speaker 5: the federal tax credit, my net cost would be about

654
00:29:59,760 --> 00:30:04,600
Speaker 5: fifty with a break even around eleven years, not including

655
00:30:04,920 --> 00:30:08,400
Speaker 5: the opportunity cost of investing the fifty thousand. If I

656
00:30:08,440 --> 00:30:11,400
Speaker 5: financed the project, to break even stretches closer to twenty years,

657
00:30:12,080 --> 00:30:14,560
Speaker 5: but my monthly payment would stay the same as it

658
00:30:14,640 --> 00:30:18,040
Speaker 5: is right now. So in the big picture, I think

659
00:30:18,080 --> 00:30:21,160
Speaker 5: I would still be winning on on that trade off.

660
00:30:22,520 --> 00:30:26,440
Speaker 5: I'm also considering trying to self gsee the project, which

661
00:30:27,680 --> 00:30:29,840
Speaker 5: is not something that I know much about, but I

662
00:30:29,880 --> 00:30:31,720
Speaker 5: think I could handle it and that would save me

663
00:30:31,760 --> 00:30:35,760
Speaker 5: ten to fifteen thousand dollars on the total cost. My

664
00:30:35,880 --> 00:30:38,240
Speaker 5: question is, should I spend the fifty thousand of cash

665
00:30:38,320 --> 00:30:42,840
Speaker 5: now to control expenses later in my retirement. Should I

666
00:30:42,880 --> 00:30:46,080
Speaker 5: keep the money invested and just absorb the higher utility costs,

667
00:30:46,280 --> 00:30:49,200
Speaker 5: or should I take the extra risk of self g

668
00:30:49,320 --> 00:30:51,600
Speaker 5: seing to make the numbers look a little bit better.

669
00:30:52,120 --> 00:30:55,720
Speaker 5: I appreciate, appreciate any advice you can give me. Thanks,

670
00:30:55,720 --> 00:30:57,400
Speaker 5: and have a great day.

671
00:30:58,160 --> 00:31:01,880
Speaker 1: All right. So I believe that Jacob has a very

672
00:31:01,880 --> 00:31:05,280
Speaker 1: good chance of retiring in five years. It sounds like

673
00:31:05,320 --> 00:31:08,080
Speaker 1: it based on how much he's got set aside. That

674
00:31:08,200 --> 00:31:10,880
Speaker 1: being said, again, we're talking about windows of time here

675
00:31:10,880 --> 00:31:13,160
Speaker 1: and flexibility, like the fact that he's thinking, all right,

676
00:31:13,200 --> 00:31:15,480
Speaker 1: I don't know sometime like in the next five I

677
00:31:15,480 --> 00:31:18,000
Speaker 1: don't know, maybe it'll be fifteen years from now. I

678
00:31:18,040 --> 00:31:21,000
Speaker 1: think that's pretty clutch when it comes to actually being

679
00:31:21,000 --> 00:31:24,200
Speaker 1: able to pull the trigger and retiring. That flexibility have

680
00:31:24,240 --> 00:31:26,760
Speaker 1: an options here, yeah, as opposed to like shooting for

681
00:31:26,800 --> 00:31:30,360
Speaker 1: a specific a year and then just realizing, oh, we're

682
00:31:30,360 --> 00:31:34,160
Speaker 1: either going to have to alter our lifestyle significantly, which, hey,

683
00:31:34,200 --> 00:31:36,959
Speaker 1: for some people's it's totally worth it, depending on what

684
00:31:37,000 --> 00:31:39,520
Speaker 1: you got going on. Yeah, but I just don't love

685
00:31:39,640 --> 00:31:42,240
Speaker 1: the idea of assuming that you'll be able to work

686
00:31:42,600 --> 00:31:45,760
Speaker 1: even longer in order to make more money until you know,

687
00:31:45,800 --> 00:31:47,960
Speaker 1: you're just a ripe old age because that's not always

688
00:31:48,040 --> 00:31:50,920
Speaker 1: in the cards for folks. But again, Jacob having the

689
00:31:50,920 --> 00:31:53,240
Speaker 1: flexibility to go either way, it just puts them in

690
00:31:53,280 --> 00:31:56,040
Speaker 1: the catbird seat. Yeah, I like it. I agreed. And Okay,

691
00:31:56,040 --> 00:31:58,440
Speaker 1: there's the retirement window that Jacob mentioned, but there's another

692
00:31:58,480 --> 00:32:01,320
Speaker 1: window that we're looking at here specific with Jacob's question, Matt,

693
00:32:01,600 --> 00:32:05,200
Speaker 1: and it is the short time that he's going to

694
00:32:05,200 --> 00:32:08,880
Speaker 1: be able to qualify for the tax credit for installing solar.

695
00:32:09,880 --> 00:32:12,760
Speaker 1: Oh yeah, and the tax credit is not an substantial

696
00:32:12,800 --> 00:32:15,360
Speaker 1: amount in this case. It could it could really turn

697
00:32:15,640 --> 00:32:18,120
Speaker 1: something that feels like a solid decision into a not

698
00:32:18,200 --> 00:32:21,000
Speaker 1: so great one overnight, like and I mean literally overnight,

699
00:32:21,040 --> 00:32:24,440
Speaker 1: because like January first, if you finish the installation, then

700
00:32:25,360 --> 00:32:27,560
Speaker 1: you're screwed. Like you're out of luck. You do not

701
00:32:27,680 --> 00:32:30,360
Speaker 1: get the federal tax credits. In his case, I guess

702
00:32:30,360 --> 00:32:32,360
Speaker 1: close to twenty thousand dollars because that's what he's saying, right,

703
00:32:32,440 --> 00:32:35,240
Speaker 1: is exactly seventy thousand dollars installed, but with the credits,

704
00:32:35,240 --> 00:32:37,600
Speaker 1: he's looking at it closer to fifty. It's holy cow,

705
00:32:37,800 --> 00:32:40,800
Speaker 1: that's very significant. Kind of like how the EV tax

706
00:32:40,800 --> 00:32:44,080
Speaker 1: credit went away at the end of last month and

707
00:32:44,320 --> 00:32:46,760
Speaker 1: October first, if you bought an EV, like what sucker

708
00:32:46,800 --> 00:32:49,560
Speaker 1: is going in to buy an EV on October first?

709
00:32:49,960 --> 00:32:52,920
Speaker 1: The number nobody has purchased a new EV in that

710
00:32:52,960 --> 00:32:55,400
Speaker 1: at some point six days, I'm curious's who's the first

711
00:32:55,400 --> 00:32:58,720
Speaker 1: person who's actually going to buy an EV? Like, who

712
00:32:58,760 --> 00:33:01,640
Speaker 1: is that person? And push them over the edge. Well,

713
00:33:01,640 --> 00:33:04,200
Speaker 1: if you if you're ultra wealthy, uh, and you don't

714
00:33:04,240 --> 00:33:06,320
Speaker 1: qualify for any other rebase, that's true. If you're if

715
00:33:06,400 --> 00:33:08,600
Speaker 1: your AGI is above a certain threshold, then you're like,

716
00:33:08,720 --> 00:33:10,200
Speaker 1: it doesn't matter. It's a good point. I'll just get

717
00:33:10,240 --> 00:33:12,400
Speaker 1: in whatever. That's a good point. But it Joel in

718
00:33:12,440 --> 00:33:14,080
Speaker 1: this case, like you just don't want to wait too long.

719
00:33:14,160 --> 00:33:16,160
Speaker 1: The economics of the project are going to get far

720
00:33:16,200 --> 00:33:19,120
Speaker 1: worse if you wait. So, given the known reality of

721
00:33:19,160 --> 00:33:22,280
Speaker 1: no more solar tax credits starting in twenty twenty six,

722
00:33:22,600 --> 00:33:25,600
Speaker 1: I think pouncing now is really important. Yeah. But he

723
00:33:25,640 --> 00:33:28,280
Speaker 1: also mentioned financing, which I don't love because that makes

724
00:33:28,360 --> 00:33:33,520
Speaker 1: the numbers much less compelling. Jacob, you'd be paying interest unnecessarily,

725
00:33:33,760 --> 00:33:35,920
Speaker 1: and like you said, the break even timely, it gets

726
00:33:36,080 --> 00:33:39,600
Speaker 1: stretched way out. Yes, so that you know. On the

727
00:33:39,640 --> 00:33:41,320
Speaker 1: other hand, what he's saying is well, I could invest

728
00:33:41,320 --> 00:33:44,960
Speaker 1: that money instead, but like we're likely talking about interest rates.

729
00:33:45,000 --> 00:33:48,280
Speaker 1: I'm assuming like in like somewhere in the six to

730
00:33:48,320 --> 00:33:51,040
Speaker 1: ten percent range, and that's if you have good credit,

731
00:33:51,040 --> 00:33:52,320
Speaker 1: which I'm assuming Jacob does.

732
00:33:52,520 --> 00:33:52,600
Speaker 3: So.

733
00:33:53,000 --> 00:33:56,680
Speaker 1: But that being said, the chances of outperforming go down significantly.

734
00:33:56,680 --> 00:33:59,640
Speaker 1: If you're looking to say, oh, well, I got my

735
00:33:59,680 --> 00:34:03,960
Speaker 1: money's got to earn more than nine percent in the market. Yeah,

736
00:34:04,120 --> 00:34:06,600
Speaker 1: I don't know if I could, But I don't know

737
00:34:06,600 --> 00:34:08,680
Speaker 1: if I would count on that, right, That's not gonna

738
00:34:08,719 --> 00:34:11,800
Speaker 1: go into my calculation. I'd rather take the guaranteed number,

739
00:34:11,920 --> 00:34:14,239
Speaker 1: which is paying you know, paying cash and not paying

740
00:34:14,239 --> 00:34:16,319
Speaker 1: the nine percent interest, then hoping I earn more in

741
00:34:16,360 --> 00:34:16,720
Speaker 1: the market.

742
00:34:16,800 --> 00:34:17,000
Speaker 2: Yeah.

743
00:34:17,120 --> 00:34:18,480
Speaker 1: And on top of that, Jacob's got a lot of

744
00:34:18,520 --> 00:34:22,480
Speaker 1: cash on hand. Man, he's got a good amount in savings,

745
00:34:22,520 --> 00:34:24,880
Speaker 1: and so forking over fifty thousand dollars to do the

746
00:34:24,920 --> 00:34:28,279
Speaker 1: solar project, I don't think that would crush his finances.

747
00:34:28,640 --> 00:34:30,360
Speaker 1: You're still gonna have plenty of cash on hand. He

748
00:34:30,400 --> 00:34:32,400
Speaker 1: still currently has a job. He's earning two hundred K,

749
00:34:32,560 --> 00:34:35,920
Speaker 1: so he'd be able to fairly quickly, I think, refill

750
00:34:35,960 --> 00:34:39,320
Speaker 1: the coffers. But it would even once he just pays

751
00:34:39,320 --> 00:34:41,799
Speaker 1: for that solar project, he still has six months worth

752
00:34:41,840 --> 00:34:45,040
Speaker 1: of income on hand, which is quite a bit. That's significant. Yeah,

753
00:34:45,080 --> 00:34:47,040
Speaker 1: But what it would immediately do, though, of course, is

754
00:34:47,120 --> 00:34:50,680
Speaker 1: lower his monthly bills very nicely moving forward. And so

755
00:34:50,800 --> 00:34:54,000
Speaker 1: I think if you are getting hung up on the

756
00:34:54,040 --> 00:34:57,319
Speaker 1: investing sort of part of your your calculus here, just

757
00:34:57,360 --> 00:35:00,239
Speaker 1: to remind yourself that you can take the savings that

758
00:35:00,280 --> 00:35:02,560
Speaker 1: you are receiving every single month, essentially what you wouldn't

759
00:35:02,560 --> 00:35:03,240
Speaker 1: paid to the utility.

760
00:35:03,239 --> 00:35:03,359
Speaker 3: Come.

761
00:35:03,480 --> 00:35:06,239
Speaker 1: Yeah, and you said ninety percent of his overall usage, son,

762
00:35:06,719 --> 00:35:09,959
Speaker 1: of that four hundred dollars every month, plug that straight

763
00:35:10,000 --> 00:35:12,160
Speaker 1: into the market. Man, So you're kind of getting getting

764
00:35:12,160 --> 00:35:14,200
Speaker 1: to have your cake and eat it too, agreed, And

765
00:35:14,280 --> 00:35:17,120
Speaker 1: financing is better than leasing there's a lot of weird

766
00:35:17,120 --> 00:35:19,960
Speaker 1: stuff when it comes to leasing your solar panels, but

767
00:35:20,000 --> 00:35:22,360
Speaker 1: it's still not our favorite. And if you try to

768
00:35:22,400 --> 00:35:24,640
Speaker 1: sell that home, by the way in the future while

769
00:35:24,640 --> 00:35:27,160
Speaker 1: still owing money on those solar panels, it could add

770
00:35:27,239 --> 00:35:29,680
Speaker 1: unnecessary stress to the situation, especially if you don't have

771
00:35:29,960 --> 00:35:32,160
Speaker 1: the cash on hand to pay that loan down in full.

772
00:35:32,800 --> 00:35:35,560
Speaker 1: And on another note, which I think is important to

773
00:35:35,560 --> 00:35:37,040
Speaker 1: mention here, not only are you going to be saving

774
00:35:37,040 --> 00:35:39,560
Speaker 1: on your energy bills, but you'll also be adding to

775
00:35:39,719 --> 00:35:41,319
Speaker 1: the value of your home. That's something that a lot

776
00:35:41,320 --> 00:35:44,839
Speaker 1: of people who install solar they're not really thinking about.

777
00:35:44,880 --> 00:35:47,080
Speaker 1: I don't think they're really that at home equity, right

778
00:35:47,080 --> 00:35:49,160
Speaker 1: in the sense that hey, this, yeah, it's like a

779
00:35:49,280 --> 00:35:51,960
Speaker 1: it's a feature, it's a benefit, it's like an amenity

780
00:35:52,000 --> 00:35:54,920
Speaker 1: at a nice hotel. It's a selling point. Yes, absolutely.

781
00:35:55,080 --> 00:35:58,400
Speaker 1: And so if for instance, he installs the solar and

782
00:35:58,440 --> 00:36:01,040
Speaker 1: then he saves, you know, say, roughly four grand a

783
00:36:01,120 --> 00:36:03,200
Speaker 1: year for the next two years, sells eight he saved

784
00:36:03,239 --> 00:36:06,719
Speaker 1: himself eight grand in energy bills, and then he's like,

785
00:36:06,719 --> 00:36:08,239
Speaker 1: oh man, it's time to move on. I got to

786
00:36:08,239 --> 00:36:10,920
Speaker 1: sell this home. Man, I'm such an idiot. Why did

787
00:36:10,920 --> 00:36:13,000
Speaker 1: I spend all this money on solar? Well, the truth

788
00:36:13,040 --> 00:36:14,480
Speaker 1: is you're going to get a lot of that money

789
00:36:14,520 --> 00:36:17,600
Speaker 1: back upon resale. So potential buyers are going to be

790
00:36:17,640 --> 00:36:20,960
Speaker 1: willing to pay more because of the perpetual energy savings

791
00:36:21,000 --> 00:36:24,920
Speaker 1: that having solar on the house provides. Like your investment

792
00:36:25,320 --> 00:36:28,400
Speaker 1: in the energy savings of this house, even if they

793
00:36:28,400 --> 00:36:30,840
Speaker 1: don't accrue to you for decades to come, they'll accrue

794
00:36:30,840 --> 00:36:32,880
Speaker 1: to somebody else and they'll pay you for that. So yeah,

795
00:36:32,960 --> 00:36:35,479
Speaker 1: saving money now, it's a big attraction. But it's also

796
00:36:35,719 --> 00:36:38,080
Speaker 1: I think helpful to know that it's a decent investment

797
00:36:38,080 --> 00:36:40,160
Speaker 1: in your property too. Yeah, to that extent, I would

798
00:36:40,160 --> 00:36:43,400
Speaker 1: make sure to keep good records to even show and

799
00:36:43,480 --> 00:36:45,359
Speaker 1: to like even demonstrate if and when the time came

800
00:36:45,400 --> 00:36:46,839
Speaker 1: for you to sell that house, to say, hey, this

801
00:36:46,880 --> 00:36:49,439
Speaker 1: is where my utilities were, this is where they are now.

802
00:36:49,680 --> 00:36:53,319
Speaker 1: That way, when it comes to someone who's thinking about, oh,

803
00:36:53,360 --> 00:36:55,480
Speaker 1: well another house, just like you're sold for this and

804
00:36:55,560 --> 00:36:57,520
Speaker 1: you can say, well, you got a factor in the

805
00:36:57,520 --> 00:36:59,960
Speaker 1: additional savings here that you're going to realize every single month.

806
00:37:00,239 --> 00:37:03,320
Speaker 1: Being able to communicate that effectively I think as clutch

807
00:37:04,400 --> 00:37:07,600
Speaker 1: and then just chop around with multiple installers. Make sure

808
00:37:07,680 --> 00:37:09,880
Speaker 1: specifically though, that they can get the system up and

809
00:37:09,920 --> 00:37:12,040
Speaker 1: running before the end of the year, because if not,

810
00:37:12,160 --> 00:37:15,200
Speaker 1: if the install completes in twenty twenty six, you can

811
00:37:15,239 --> 00:37:17,880
Speaker 1: miss out on those tax credits. I think for that reason,

812
00:37:18,400 --> 00:37:21,440
Speaker 1: I would avoid He mentioned possibly G seeing it himself.

813
00:37:21,840 --> 00:37:24,640
Speaker 1: I think for that reason, like G seeing it himself

814
00:37:24,760 --> 00:37:27,200
Speaker 1: sounds like he's not super interested in doing it, but

815
00:37:27,239 --> 00:37:29,719
Speaker 1: he's maybe capable. He sounds like a smart guy. I

816
00:37:30,160 --> 00:37:32,600
Speaker 1: would be more likely to say yes if it was

817
00:37:32,640 --> 00:37:35,200
Speaker 1: earlier in the year. But because there are going to

818
00:37:35,239 --> 00:37:37,359
Speaker 1: be there's gonna be like a mad rush. I think

819
00:37:37,360 --> 00:37:39,360
Speaker 1: of folks who are trying to get these things done agreed,

820
00:37:39,400 --> 00:37:42,160
Speaker 1: and these installers are going to be booked through like

821
00:37:42,440 --> 00:37:44,600
Speaker 1: December thirty first man, And that's one of the things

822
00:37:44,680 --> 00:37:47,560
Speaker 1: you need to prioritize, is like, hey, how like I

823
00:37:47,560 --> 00:37:50,200
Speaker 1: would even interview people who have used the company in

824
00:37:50,239 --> 00:37:52,600
Speaker 1: the past and say do they stick to their timeline?

825
00:37:52,719 --> 00:37:55,440
Speaker 1: Like I would want to similar to interviewing a general

826
00:37:55,480 --> 00:37:57,919
Speaker 1: contractor who's doing other work at your house. I would

827
00:37:57,920 --> 00:38:00,560
Speaker 1: want to know that they activate, that you do good work,

828
00:38:00,600 --> 00:38:02,480
Speaker 1: that people who have used them are happy with it,

829
00:38:02,840 --> 00:38:04,640
Speaker 1: and that they get it done in the time they

830
00:38:04,680 --> 00:38:06,160
Speaker 1: say they're going to get it done. And because it's

831
00:38:06,320 --> 00:38:07,640
Speaker 1: a lot of money on the line, there's a lot

832
00:38:07,680 --> 00:38:09,640
Speaker 1: of money on the line. It's so crucial right now,

833
00:38:10,320 --> 00:38:13,960
Speaker 1: I think, you know, getting this done makes sense g

834
00:38:14,160 --> 00:38:17,200
Speaker 1: seeing it could delay that process and that could cost

835
00:38:17,200 --> 00:38:18,759
Speaker 1: you more than the savings you might be able to

836
00:38:18,760 --> 00:38:21,960
Speaker 1: realize totally. That could be a cheap move, not a

837
00:38:21,960 --> 00:38:25,000
Speaker 1: frugal moved. Percent Another aspect too, that like you're talking

838
00:38:25,080 --> 00:38:28,080
Speaker 1: about the ongoing savings every month being the addition, you know,

839
00:38:28,120 --> 00:38:31,080
Speaker 1: like you got the benefit, the immediate benefit of the

840
00:38:31,200 --> 00:38:32,960
Speaker 1: monthly savings, but then just kind of like the long

841
00:38:33,040 --> 00:38:35,239
Speaker 1: term benefit of like the increase equity in the home.

842
00:38:35,560 --> 00:38:37,800
Speaker 1: There's also like something else, as I was just picturing

843
00:38:37,840 --> 00:38:39,920
Speaker 1: this on my own home, on my own roof, Like

844
00:38:39,960 --> 00:38:42,040
Speaker 1: it gets really hot up in the attic and there

845
00:38:42,120 --> 00:38:45,600
Speaker 1: is just a massive increase in your home's ability to

846
00:38:46,280 --> 00:38:49,600
Speaker 1: deflect solar energy that is not just getting sucked into

847
00:38:49,640 --> 00:38:51,680
Speaker 1: the attic, right And so I was up there recently

848
00:38:51,719 --> 00:38:53,359
Speaker 1: changing out the air filter. I was it's like it

849
00:38:53,400 --> 00:38:56,439
Speaker 1: is so hot up here, and picturing solar panels on there,

850
00:38:56,719 --> 00:38:59,359
Speaker 1: it literally takes the brunt of the solar energy. Not

851
00:38:59,400 --> 00:39:02,000
Speaker 1: only does it create of course electricity with it, but

852
00:39:02,000 --> 00:39:04,840
Speaker 1: it literally shades your home to where it creates this

853
00:39:05,480 --> 00:39:09,200
Speaker 1: energy passive system, which means that you need to use

854
00:39:09,239 --> 00:39:11,560
Speaker 1: even less energy to actually cool your homes. What some

855
00:39:11,560 --> 00:39:14,880
Speaker 1: people might it's like a double A double women, it's

856
00:39:14,400 --> 00:39:17,160
Speaker 1: it's what you're gonna say, Well, I was. It's like

857
00:39:17,239 --> 00:39:20,120
Speaker 1: a it's it serves the end goal of what you're

858
00:39:20,120 --> 00:39:22,439
Speaker 1: trying to achieve even more. And I think that that's

859
00:39:22,520 --> 00:39:24,480
Speaker 1: just uh, I don't know how big of a deal

860
00:39:24,520 --> 00:39:26,560
Speaker 1: that is, but you can tell the difference in your house,

861
00:39:26,680 --> 00:39:29,200
Speaker 1: you know, like imagine like when the even when the

862
00:39:29,239 --> 00:39:31,920
Speaker 1: external the temperature outside is roughly the same. When it's

863
00:39:31,920 --> 00:39:34,279
Speaker 1: a sunny day, at least at in our house, man

864
00:39:34,320 --> 00:39:36,399
Speaker 1: on the second floor, it gets so hot. It can

865
00:39:36,400 --> 00:39:38,840
Speaker 1: get really hot up there, as opposed to a cloudy

866
00:39:38,920 --> 00:39:41,919
Speaker 1: day where you're not getting that direct blast from the sun.

867
00:39:42,000 --> 00:39:45,640
Speaker 1: That's just bacon, the upstairs bacon. The Attics agreed, we

868
00:39:45,680 --> 00:39:48,359
Speaker 1: got more questions to get to, Matt, including convincing your

869
00:39:48,360 --> 00:39:51,440
Speaker 1: folks to make better financial decisions and what about the

870
00:39:51,480 --> 00:39:54,080
Speaker 1: best cell phone plan for wearables. We'll get to those

871
00:39:54,200 --> 00:40:04,239
Speaker 1: questions right after this m all right, buddy, We are

872
00:40:04,480 --> 00:40:06,480
Speaker 1: back from the break and of course it is now

873
00:40:06,560 --> 00:40:09,319
Speaker 1: time for the Facebook question of the Week, which this

874
00:40:09,400 --> 00:40:13,200
Speaker 1: week happens to be from body mcboat face es choir.

875
00:40:13,840 --> 00:40:17,360
Speaker 1: Remember I think that's a real name. So that's like

876
00:40:17,400 --> 00:40:20,959
Speaker 1: the that's like a British boat or submarine or something

877
00:40:21,000 --> 00:40:24,000
Speaker 1: that they didn't online poll for allowed the public to

878
00:40:24,080 --> 00:40:25,880
Speaker 1: name the boat. And this is why we can't have

879
00:40:25,960 --> 00:40:28,560
Speaker 1: nice things. I don't think they were expecting this name

880
00:40:28,600 --> 00:40:31,680
Speaker 1: to win, but it did so in Atlanta, so they

881
00:40:32,120 --> 00:40:35,879
Speaker 1: there is a public works project where they drilled underground

882
00:40:36,320 --> 00:40:40,040
Speaker 1: from the river to like a new reservoir, and they

883
00:40:40,040 --> 00:40:43,239
Speaker 1: did something similar and do you remember what ended up

884
00:40:43,320 --> 00:40:45,879
Speaker 1: ended up willing? I ended up winning for the name

885
00:40:45,960 --> 00:40:51,600
Speaker 1: for the drill drill of Mike, so like killer Mike

886
00:40:51,680 --> 00:40:55,359
Speaker 1: from Run the Jewels. But which is a great Yeah,

887
00:40:55,400 --> 00:40:57,279
Speaker 1: it's how awesome is that? I think it's I think

888
00:40:57,280 --> 00:41:01,400
Speaker 1: it's anyway, this is from body mcboat face as TLDR.

889
00:41:01,600 --> 00:41:03,640
Speaker 1: How do I convince my dad not to take out

890
00:41:03,640 --> 00:41:06,200
Speaker 1: a home equity loan to pay for new air conditioning

891
00:41:06,280 --> 00:41:09,959
Speaker 1: and a new furnace. My parents seventy seven and seventy five.

892
00:41:10,320 --> 00:41:12,520
Speaker 1: They don't have central air in their home, and their

893
00:41:12,560 --> 00:41:15,960
Speaker 1: furnace is legit fifty or sixty years old, which is impressive.

894
00:41:15,960 --> 00:41:17,919
Speaker 1: By the way. It's probably why it still runs, actually,

895
00:41:17,920 --> 00:41:19,480
Speaker 1: because it's like it'll make them like they used to.

896
00:41:20,440 --> 00:41:23,040
Speaker 1: They are planning on installing AC and getting a new furnace,

897
00:41:23,040 --> 00:41:24,520
Speaker 1: but they're going to take out a home equity loan

898
00:41:24,560 --> 00:41:27,520
Speaker 1: instead of taking some money out of their retirement. Costs

899
00:41:27,520 --> 00:41:30,640
Speaker 1: could be fifteen to twenty five thousand dollars. How do

900
00:41:30,719 --> 00:41:32,600
Speaker 1: I convince them that take me out a home equity

901
00:41:32,640 --> 00:41:34,920
Speaker 1: loan on a home I don't think it's paid off

902
00:41:35,000 --> 00:41:37,400
Speaker 1: yet is a horrible idea when interest rates will be

903
00:41:37,440 --> 00:41:40,280
Speaker 1: eight percent or higher. I don't know what their situation

904
00:41:40,400 --> 00:41:42,920
Speaker 1: is with their investments and how they have things invested,

905
00:41:42,960 --> 00:41:45,239
Speaker 1: but if you are in stocks, you have had a

906
00:41:45,239 --> 00:41:47,759
Speaker 1: pretty good couple of years. Being retired at seventy seven

907
00:41:47,800 --> 00:41:50,400
Speaker 1: and seventy five. I'm sure my parents are more conservative

908
00:41:50,440 --> 00:41:52,600
Speaker 1: with their money, but they still have to be making

909
00:41:52,600 --> 00:41:55,560
Speaker 1: some money, right. I feel like taking the money out

910
00:41:55,640 --> 00:41:58,040
Speaker 1: of their retirement would still be a much better idea

911
00:41:58,239 --> 00:42:00,640
Speaker 1: in the long run than a home equity How do

912
00:42:00,719 --> 00:42:02,880
Speaker 1: I show them that doing this is a bad idea.

913
00:42:03,560 --> 00:42:06,799
Speaker 1: That is retired postal with a pension social Security and

914
00:42:06,840 --> 00:42:10,040
Speaker 1: he moved his TSP to a private company. Mom's retirement

915
00:42:10,120 --> 00:42:13,879
Speaker 1: income is fairly negligible. Thanks. Yeah, I'm not sure if

916
00:42:13,960 --> 00:42:16,600
Speaker 1: this specific details matter here as much, because I think

917
00:42:16,680 --> 00:42:18,440
Speaker 1: what we want to talk about is sort of the

918
00:42:18,480 --> 00:42:23,600
Speaker 1: relational dynamic that comes with financial advice and other people, yes,

919
00:42:23,719 --> 00:42:26,440
Speaker 1: especially your parents. I think every time you're trying to

920
00:42:26,440 --> 00:42:30,680
Speaker 1: convince friends and family members to make more prudent financial decisions,

921
00:42:30,920 --> 00:42:35,000
Speaker 1: that is often a recipe for relational dysfunction. Typically, inserting

922
00:42:35,040 --> 00:42:39,640
Speaker 1: yourself into that scenario when it's not been asked for

923
00:42:40,160 --> 00:42:43,319
Speaker 1: leads to hurt feelings, right, And so if they come

924
00:42:43,360 --> 00:42:46,279
Speaker 1: to you and they sincerely ask you for your advice, well,

925
00:42:46,280 --> 00:42:49,160
Speaker 1: I would be willing to offer my non judgmental input.

926
00:42:49,719 --> 00:42:53,920
Speaker 1: But most folks don't love unsolicited advice. They don't like

927
00:42:53,960 --> 00:42:56,080
Speaker 1: for you to come and tell them what you think

928
00:42:56,080 --> 00:42:58,440
Speaker 1: they should do. And so if you really feel the

929
00:42:58,520 --> 00:43:01,200
Speaker 1: need to intervene, I guess maybe the best way to

930
00:43:01,239 --> 00:43:03,240
Speaker 1: go would be to ask a question instead of telling

931
00:43:03,280 --> 00:43:05,160
Speaker 1: them what you would do, or worse, what you think

932
00:43:05,200 --> 00:43:07,200
Speaker 1: they should do, but maybe ask a question like, hey,

933
00:43:07,200 --> 00:43:09,920
Speaker 1: tell me more about this HVAC install and tell me

934
00:43:09,920 --> 00:43:12,319
Speaker 1: more about how you're financing it or I don't know,

935
00:43:12,360 --> 00:43:16,520
Speaker 1: but like maybe curiosity instead of judgment and trying to

936
00:43:16,680 --> 00:43:20,279
Speaker 1: convince them that they should take your advice and not

937
00:43:20,480 --> 00:43:22,600
Speaker 1: go their own way instead of just immediately bringing down

938
00:43:22,600 --> 00:43:25,319
Speaker 1: the hammer. Yeah, be inquisitive. I totally agree. And it's

939
00:43:25,360 --> 00:43:28,240
Speaker 1: not like that your folks are looking to take out

940
00:43:28,400 --> 00:43:31,160
Speaker 1: a payday loan, right or they're not looking to send

941
00:43:31,160 --> 00:43:33,160
Speaker 1: money to a scammer overseas or something like that. If

942
00:43:33,200 --> 00:43:36,080
Speaker 1: that was the case, I would say, hey, you probably

943
00:43:36,080 --> 00:43:40,839
Speaker 1: do need to seriously intervene in that instance. But taking

944
00:43:40,920 --> 00:43:43,160
Speaker 1: out a helock versus, you know, taking money out of

945
00:43:43,160 --> 00:43:45,680
Speaker 1: the retirement it might not be a bad call. It

946
00:43:45,760 --> 00:43:49,200
Speaker 1: sounds like this expense is a need, not a want,

947
00:43:49,360 --> 00:43:51,840
Speaker 1: So I don't think I would fault them for replacing

948
00:43:51,840 --> 00:43:54,320
Speaker 1: that old unit and upgrading to a full fledged HVAC

949
00:43:54,360 --> 00:43:57,560
Speaker 1: system while they're at it. And I mean, it sounds

950
00:43:57,600 --> 00:44:00,520
Speaker 1: like nobody here has an idea of what they're cash

951
00:44:00,680 --> 00:44:03,399
Speaker 1: situation looks like. But I think there's a good chance

952
00:44:03,400 --> 00:44:05,480
Speaker 1: that I would use some investment dollars at that point

953
00:44:05,800 --> 00:44:07,440
Speaker 1: in my life for an expense like this, but it's

954
00:44:07,440 --> 00:44:10,200
Speaker 1: also not a clearcut situation. Maybe they are in a

955
00:44:10,200 --> 00:44:13,960
Speaker 1: cash flow tight sort of situation. They've got things figured

956
00:44:14,000 --> 00:44:17,920
Speaker 1: out when you take into account the pension, social Security,

957
00:44:18,000 --> 00:44:19,560
Speaker 1: and so they're just saying, you know what, we're just

958
00:44:19,600 --> 00:44:22,840
Speaker 1: going to keep that on autopilot. We can afford the payments.

959
00:44:23,160 --> 00:44:25,239
Speaker 1: What we don't want to do is draw down on

960
00:44:25,280 --> 00:44:29,879
Speaker 1: any retirement funds unnecessarily. Yeah, yeah, and yeah, maybe they

961
00:44:29,880 --> 00:44:31,680
Speaker 1: know things that you don't. And again this is like

962
00:44:31,719 --> 00:44:34,560
Speaker 1: you're saying that this is not this egregious financial move

963
00:44:34,600 --> 00:44:37,600
Speaker 1: where you're like, I have to intervene because they're out

964
00:44:37,600 --> 00:44:40,799
Speaker 1: of their mind. My mom's like watching QBC day in

965
00:44:40,880 --> 00:44:43,320
Speaker 1: day out and has packages showing up ten times a

966
00:44:43,400 --> 00:44:46,319
Speaker 1: day to the doorstep. It's not a problem along those

967
00:44:46,360 --> 00:44:48,919
Speaker 1: lines whereas a kid who of aging parents, you feel

968
00:44:48,960 --> 00:44:50,400
Speaker 1: like you really have to intervene. This is one of

969
00:44:50,480 --> 00:44:54,560
Speaker 1: those things where which own is the most fully optimized

970
00:44:54,719 --> 00:44:57,480
Speaker 1: versus sure not the most fully optimized. And I think

971
00:44:57,520 --> 00:45:00,720
Speaker 1: they're close enough to where you can let your parents

972
00:45:00,760 --> 00:45:02,640
Speaker 1: cut some slack on this and let them do their thing.

973
00:45:02,880 --> 00:45:05,360
Speaker 1: All right, Let's get to a question from Jordan, who says,

974
00:45:05,400 --> 00:45:08,120
Speaker 1: looking to find a cheaper phone plan. My wife is

975
00:45:08,160 --> 00:45:10,719
Speaker 1: against Mint because you can't have a line for wearables

976
00:45:10,920 --> 00:45:14,600
Speaker 1: like kids GPS watches. Is there a similarly priced service

977
00:45:14,719 --> 00:45:19,160
Speaker 1: that has that option, Matt. We are seeing more wearable

978
00:45:19,360 --> 00:45:22,800
Speaker 1: specific plans, which I like to see, and they're cheaper

979
00:45:22,840 --> 00:45:25,359
Speaker 1: than cell phone specific plans, I think because the cell

980
00:45:25,400 --> 00:45:28,000
Speaker 1: phone companies know that you're not going to use as

981
00:45:28,080 --> 00:45:30,719
Speaker 1: much data on your watch as you would with an

982
00:45:30,719 --> 00:45:34,040
Speaker 1: actual phone. But before we talk about that, it's going

983
00:45:34,080 --> 00:45:37,640
Speaker 1: to stream in video games right on your watch, right exactly,

984
00:45:37,719 --> 00:45:40,239
Speaker 1: probably not streaming a show or a movie. Maybe in

985
00:45:40,280 --> 00:45:42,320
Speaker 1: your watch two years you are, I don't know, yeah, actually,

986
00:45:43,960 --> 00:45:46,600
Speaker 1: but there are like device specific plans I wanted to mention,

987
00:45:46,760 --> 00:45:49,439
Speaker 1: like the gab Watch. Depending on how old your kid

988
00:45:49,719 --> 00:45:52,080
Speaker 1: is and what you want as far as parental protections,

989
00:45:52,120 --> 00:45:55,319
Speaker 1: that might be something you look into. The on the

990
00:45:55,360 --> 00:45:57,520
Speaker 1: gab plans to watch is like typically free, but you

991
00:45:57,600 --> 00:46:00,839
Speaker 1: pay a higher monthly rate and the you know, comes

992
00:46:00,840 --> 00:46:02,920
Speaker 1: out of the box with those more parent friendly features.

993
00:46:03,480 --> 00:46:06,040
Speaker 1: I don't love how expensive it is for what you get,

994
00:46:06,080 --> 00:46:08,680
Speaker 1: but for some parents and even for us for a

995
00:46:08,719 --> 00:46:11,200
Speaker 1: time it worked, it can be worth the trade off.

996
00:46:11,280 --> 00:46:15,000
Speaker 1: So just know that it's Yeah, if you want a

997
00:46:15,040 --> 00:46:18,759
Speaker 1: traditional like Apple or Android watch, you're gonna want to

998
00:46:18,800 --> 00:46:22,040
Speaker 1: go with one of these new fangled wearable specific plans.

999
00:46:22,400 --> 00:46:25,160
Speaker 1: But there are also these like tech companies that have

1000
00:46:25,200 --> 00:46:27,520
Speaker 1: made watches specifically four Kids, and they have their kind

1001
00:46:27,520 --> 00:46:29,640
Speaker 1: of standalone plans that you can out for as well. Yeah,

1002
00:46:29,640 --> 00:46:32,400
Speaker 1: it's all in one. It's like an all inclusive resort. You

1003
00:46:32,400 --> 00:46:34,799
Speaker 1: don't have to It's like you can stick with your

1004
00:46:34,800 --> 00:46:36,640
Speaker 1: current cell phone provider, or you can go with the

1005
00:46:36,680 --> 00:46:40,600
Speaker 1: Mint and then operate the wearable outside of that. But

1006
00:46:40,760 --> 00:46:43,719
Speaker 1: if you are looking for something that's kind of that

1007
00:46:43,800 --> 00:46:45,640
Speaker 1: has your cell phone plans, you and your wife, your

1008
00:46:45,680 --> 00:46:50,280
Speaker 1: kid as well US Mobile, it totally rocks. In particular

1009
00:46:50,320 --> 00:46:53,960
Speaker 1: when it comes to the wearable specific plans. Six dollars

1010
00:46:54,040 --> 00:46:58,000
Speaker 1: and fifty cents a month for a smart watch if

1011
00:46:58,000 --> 00:47:00,759
Speaker 1: you pay all all once, if you pay annually, that is,

1012
00:47:01,480 --> 00:47:03,759
Speaker 1: in my opinion, that's a pretty great rate. When it

1013
00:47:03,800 --> 00:47:06,640
Speaker 1: comes to the actual device, I would suggest going used certainly,

1014
00:47:06,719 --> 00:47:09,759
Speaker 1: make sure to get the GPS, get the cellular cellular

1015
00:47:10,000 --> 00:47:12,800
Speaker 1: model of like an Apple Watch for instance. Some of

1016
00:47:12,800 --> 00:47:15,480
Speaker 1: those Apple watches are GPS only and the plus cellular

1017
00:47:15,719 --> 00:47:18,080
Speaker 1: models cost more, but that's the only way you're going

1018
00:47:18,120 --> 00:47:20,000
Speaker 1: to be able to use it standalone. That's right, But

1019
00:47:20,280 --> 00:47:23,080
Speaker 1: US Mobile is our current favorite for most folks in

1020
00:47:23,160 --> 00:47:25,279
Speaker 1: the cell phone and in the smart watch space. I

1021
00:47:25,320 --> 00:47:27,760
Speaker 1: was just talking to a friend and I couldn't believe

1022
00:47:27,800 --> 00:47:31,040
Speaker 1: that they are still with AT and T, a dude

1023
00:47:31,120 --> 00:47:35,480
Speaker 1: like the og original terrible cell phone provider, like they're

1024
00:47:35,520 --> 00:47:37,920
Speaker 1: paying I think over seventy a month for Going back

1025
00:47:37,920 --> 00:47:39,839
Speaker 1: to our last question, I'm sure you didn't obliterate him,

1026
00:47:39,960 --> 00:47:43,759
Speaker 1: but did you make it a helpful, gentle suggestion. I

1027
00:47:43,800 --> 00:47:46,400
Speaker 1: made a very good case as to why US Mobile

1028
00:47:46,400 --> 00:47:48,920
Speaker 1: in particular is so awesome, and I was just explaining

1029
00:47:48,960 --> 00:47:51,879
Speaker 1: to her the benefits and like specifically, I was telling

1030
00:47:51,920 --> 00:47:54,399
Speaker 1: her the best part is that, hey, you can even

1031
00:47:54,440 --> 00:47:56,400
Speaker 1: switch between the different networks. Like that is what's so

1032
00:47:56,440 --> 00:47:58,239
Speaker 1: great about US Mobile, the fact that on AT and

1033
00:47:58,239 --> 00:48:01,040
Speaker 1: T's network you can so with US Mobile. It's called

1034
00:48:01,200 --> 00:48:04,040
Speaker 1: dark Star, So dark Star is AT and T. You

1035
00:48:04,040 --> 00:48:06,800
Speaker 1: can go with WARP so that's the Verizon in VA. No,

1036
00:48:07,000 --> 00:48:09,399
Speaker 1: that's with US Mobile, or if you want to go

1037
00:48:09,680 --> 00:48:13,920
Speaker 1: with light Speed, that's the T Mobile version that they have,

1038
00:48:14,080 --> 00:48:16,399
Speaker 1: and you can switch in the middle of a month.

1039
00:48:16,480 --> 00:48:18,560
Speaker 1: You can switch. Whenever you want to say things aren't

1040
00:48:18,560 --> 00:48:20,279
Speaker 1: working out for you, you can be like, oh, okay,

1041
00:48:20,680 --> 00:48:23,400
Speaker 1: you just log online. I literally did this within the

1042
00:48:23,400 --> 00:48:25,800
Speaker 1: first month of trying US Mobile because I thought AT

1043
00:48:25,880 --> 00:48:27,680
Speaker 1: and T was gonna be the better option and it wasn't.

1044
00:48:27,680 --> 00:48:29,879
Speaker 1: So why I hopped over. I'm sorry I should say

1045
00:48:29,920 --> 00:48:32,320
Speaker 1: I thought that dark Star was gonna be because it

1046
00:48:32,480 --> 00:48:34,239
Speaker 1: was gonna be the best network. It turns out that

1047
00:48:34,280 --> 00:48:36,239
Speaker 1: it wasn't, So I hopped over to WARP and my

1048
00:48:36,320 --> 00:48:39,839
Speaker 1: phone was offline for less than five minutes before it's

1049
00:48:40,000 --> 00:48:42,719
Speaker 1: hopped over, was recognized by the new network, and I

1050
00:48:42,760 --> 00:48:44,840
Speaker 1: was good to go. You can even you can You

1051
00:48:44,880 --> 00:48:48,640
Speaker 1: can even do like a multi network option to where

1052
00:48:48,680 --> 00:48:51,399
Speaker 1: you pay extra, you pay for extra data. Let's say

1053
00:48:51,400 --> 00:48:54,400
Speaker 1: you normally go with WARP, but then you know some

1054
00:48:54,640 --> 00:48:56,040
Speaker 1: you know that, like, oh well, we go off to

1055
00:48:56,080 --> 00:48:58,360
Speaker 1: the cabin. The only network that works up there is

1056
00:48:58,400 --> 00:49:00,920
Speaker 1: T Mobile. You can do that too. You can do

1057
00:49:01,200 --> 00:49:04,520
Speaker 1: data add ons at high speeds with a different network

1058
00:49:04,560 --> 00:49:07,600
Speaker 1: as well, like the network flexibility with the vn O,

1059
00:49:07,680 --> 00:49:10,080
Speaker 1: specifically with US Mobile. Man, it blows my mind. I

1060
00:49:10,080 --> 00:49:12,279
Speaker 1: think it's just like the best thing since slice bread.

1061
00:49:12,320 --> 00:49:14,840
Speaker 1: That's what's so fascinating now in this space is because

1062
00:49:14,960 --> 00:49:18,439
Speaker 1: some of these NB and O operators, because of that flexibility,

1063
00:49:18,480 --> 00:49:21,359
Speaker 1: they're better than the traditional guys that advertise all the time,

1064
00:49:21,400 --> 00:49:22,920
Speaker 1: and it's better. Yeah. And I don't know what kind

1065
00:49:22,960 --> 00:49:24,920
Speaker 1: of like shady deals they got going on in the

1066
00:49:24,920 --> 00:49:28,959
Speaker 1: background where they are allowed to do this. I don't

1067
00:49:29,040 --> 00:49:32,200
Speaker 1: understand how they have been allowed. Why do they agree

1068
00:49:32,200 --> 00:49:33,960
Speaker 1: to it? Right? Why have the big networks? I don't

1069
00:49:34,000 --> 00:49:35,719
Speaker 1: know this because they've got dirt on them. I think

1070
00:49:35,840 --> 00:49:37,960
Speaker 1: it's sure. It just seems like US Mobile is going

1071
00:49:38,040 --> 00:49:39,239
Speaker 1: to be able to take over the world with the

1072
00:49:39,320 --> 00:49:42,000
Speaker 1: kind of rates and service that they're offering. So yeah, yeah,

1073
00:49:42,040 --> 00:49:44,200
Speaker 1: for Jordan, I think that's the one top shot man, Like,

1074
00:49:44,200 --> 00:49:45,960
Speaker 1: that's where I would go. Everybody else is going to

1075
00:49:45,960 --> 00:49:48,279
Speaker 1: be minimum ten bucks a month for wearable plans. A

1076
00:49:48,280 --> 00:49:50,239
Speaker 1: lot of them are closer to fifteen a month, so

1077
00:49:50,880 --> 00:49:53,840
Speaker 1: less than half of that at US Mobile. All right, Matt,

1078
00:49:54,200 --> 00:49:57,160
Speaker 1: let's get back to the pier before we clock out

1079
00:49:57,280 --> 00:50:01,759
Speaker 1: for today. This we don't actually clim cout, but we

1080
00:50:01,800 --> 00:50:04,360
Speaker 1: should have, like the punch card. That'd be awesome, like

1081
00:50:04,400 --> 00:50:09,560
Speaker 1: Flintstone style. Sometimes you still see them in certain establishments. Yeah, okay,

1082
00:50:09,560 --> 00:50:11,960
Speaker 1: this beer was from Burlington Beer Company. It's called It's

1083
00:50:12,000 --> 00:50:14,239
Speaker 1: Complicated being a Wizard. What were your thoughts on this

1084
00:50:14,320 --> 00:50:17,840
Speaker 1: double ipa? It was pretty tasty, it was bold. It

1085
00:50:17,840 --> 00:50:20,840
Speaker 1: had a certain degree of sweetness going on, which I

1086
00:50:20,960 --> 00:50:23,160
Speaker 1: was thinking about because you're kind of stopped up, could

1087
00:50:23,200 --> 00:50:24,560
Speaker 1: you do you feel like you're able to pick up

1088
00:50:24,600 --> 00:50:27,240
Speaker 1: on all the all the flavors. I think I probably

1089
00:50:27,400 --> 00:50:29,600
Speaker 1: was missing a step, but yeah you did. I don't

1090
00:50:29,600 --> 00:50:31,799
Speaker 1: know bringing my a game, my tasting game. I know

1091
00:50:31,840 --> 00:50:34,560
Speaker 1: when I'm like got a cold or congested, I can't

1092
00:50:34,719 --> 00:50:36,520
Speaker 1: That's like the first thing to go is I can't

1093
00:50:36,520 --> 00:50:41,160
Speaker 1: taste anything, and so food and drink becomes very unattractive

1094
00:50:41,160 --> 00:50:43,719
Speaker 1: to me. I tasted it, and I enjoyed it. I

1095
00:50:43,800 --> 00:50:46,400
Speaker 1: just don't know that I fully enjoyed every element of

1096
00:50:46,400 --> 00:50:47,880
Speaker 1: this beer, because when it tastes like to you and

1097
00:50:47,880 --> 00:50:50,000
Speaker 1: then I'll let you know what you're missing on It

1098
00:50:50,080 --> 00:50:53,920
Speaker 1: tasted like, yeah, semi sweet double ip a with like

1099
00:50:54,719 --> 00:50:58,160
Speaker 1: a nice rep representative of a hazy I PA, but

1100
00:50:58,840 --> 00:51:01,800
Speaker 1: nothing spectacular sticking me out, No notes that I can

1101
00:51:02,760 --> 00:51:04,840
Speaker 1: cling to where I was like, oh man, this was

1102
00:51:04,960 --> 00:51:07,360
Speaker 1: unique in this way. Okay, maybe a little pineapplely vibe.

1103
00:51:07,560 --> 00:51:09,160
Speaker 1: If I was gonna pick no, I think you got

1104
00:51:09,160 --> 00:51:12,279
Speaker 1: most of it. That's probably how I would describe it

1105
00:51:12,280 --> 00:51:14,759
Speaker 1: as well. They don't claim to be hazy, but it

1106
00:51:14,760 --> 00:51:16,719
Speaker 1: poured a little bit hazy, but it didn't have like

1107
00:51:16,800 --> 00:51:19,560
Speaker 1: those sharp, hoppy notes that you get with some of

1108
00:51:19,560 --> 00:51:22,600
Speaker 1: the best New England hazes out there. So it's drink

1109
00:51:22,640 --> 00:51:26,520
Speaker 1: like halfway between just a regular hazy ipa and more

1110
00:51:26,560 --> 00:51:29,719
Speaker 1: of a traditional American double yep. But I'm certainly glad though,

1111
00:51:29,719 --> 00:51:32,000
Speaker 1: that we got to share one of these today, buddy,

1112
00:51:32,120 --> 00:51:34,640
Speaker 1: And that's going to be it for this Ask how

1113
00:51:34,680 --> 00:51:36,480
Speaker 1: to Money episode. You can find our show notes up

1114
00:51:36,480 --> 00:51:39,480
Speaker 1: on the website. Some of the different resources we mentioned

1115
00:51:40,200 --> 00:51:42,480
Speaker 1: during this episode, Like you mentioned the Golden Rules of

1116
00:51:42,560 --> 00:51:44,800
Speaker 1: Credit earlier on, we'll link to that, We'll link to

1117
00:51:46,160 --> 00:51:49,520
Speaker 1: the financial Samurai Engineering. You own your own layoff, you

1118
00:51:49,520 --> 00:51:52,040
Speaker 1: can find all that up in our show notes. But

1119
00:51:52,360 --> 00:51:54,680
Speaker 1: that'll be it. So until next time, Best Friends Out,

1120
00:51:54,840 --> 00:52:05,640
Speaker 1: Best Friends Out.