1
00:00:00,120 --> 00:00:03,480
Speaker 1: Welcome to How to Money. I'm Joel and I am Matt,

2
00:00:03,560 --> 00:00:05,760
Speaker 1: and today we're answering your listener questions.

3
00:00:25,160 --> 00:00:27,840
Speaker 2: You know, a buddy, it's Monday, which means we've got

4
00:00:27,880 --> 00:00:29,960
Speaker 2: listener questions to get to. We've got a lot of

5
00:00:29,960 --> 00:00:33,040
Speaker 2: different financial advice that we're gonna touch on today. We're

6
00:00:33,040 --> 00:00:35,640
Speaker 2: gonna actually we're gonna discuss the best ways to save

7
00:00:36,240 --> 00:00:39,159
Speaker 2: in your monthly budget, specifically when it comes to groceries.

8
00:00:39,600 --> 00:00:41,959
Speaker 2: Another listener he's wondering if he should be looking at

9
00:00:42,120 --> 00:00:45,159
Speaker 2: life insurance. He's in his twenties. And we're gonna hear

10
00:00:45,159 --> 00:00:48,280
Speaker 2: from a listener who's asking about early retirement, but specifically

11
00:00:48,360 --> 00:00:51,760
Speaker 2: as a government or maybe not government, but as a

12
00:00:51,800 --> 00:00:53,880
Speaker 2: public employee in the public sector.

13
00:00:53,960 --> 00:00:55,640
Speaker 1: There you go, Yeah, we'll get to all that and more.

14
00:00:55,880 --> 00:00:59,080
Speaker 1: And that one's interesting because there's always when you're talking

15
00:00:59,080 --> 00:01:02,080
Speaker 1: about retiring earlier early, you have to fund early retirement,

16
00:01:02,080 --> 00:01:04,640
Speaker 1: but you also have to fund normal retirement, which is

17
00:01:04,640 --> 00:01:07,000
Speaker 1: a long time, so it kind of makes the task

18
00:01:07,240 --> 00:01:09,479
Speaker 1: just a little more difficult to square. We'll talk about

19
00:01:09,520 --> 00:01:12,200
Speaker 1: that when we when we get to that question. But Matt,

20
00:01:12,600 --> 00:01:15,240
Speaker 1: before we get to listener questions, we had a listener

21
00:01:15,319 --> 00:01:19,279
Speaker 1: email come in to our inbox a week or two ago,

22
00:01:19,680 --> 00:01:22,399
Speaker 1: and it was from listener Liz, and she was like.

23
00:01:22,400 --> 00:01:24,520
Speaker 2: That's that's how she wrote her. She signed off as

24
00:01:24,800 --> 00:01:27,520
Speaker 2: listener Liz, and she's like, I just have to share

25
00:01:27,520 --> 00:01:29,160
Speaker 2: this with you guys because I found it crazy. You

26
00:01:29,200 --> 00:01:31,919
Speaker 2: guys have been talking more and more about how tipping

27
00:01:31,920 --> 00:01:37,400
Speaker 2: culture has gone insane, gone to berserk, and I found

28
00:01:37,640 --> 00:01:40,600
Speaker 2: the strongest evidence of that yet. She basically said she

29
00:01:40,720 --> 00:01:42,240
Speaker 2: was making an e commerce order. I want to say

30
00:01:42,240 --> 00:01:44,880
Speaker 2: it was for like some organic sort of nut butter

31
00:01:44,959 --> 00:01:46,880
Speaker 2: or something like that. Yeah, yeah, yeah, fancy peanut butter,

32
00:01:46,959 --> 00:01:50,360
Speaker 2: or yeah, fancy jelly or something, and so the findest

33
00:01:50,400 --> 00:01:53,320
Speaker 2: pebe and Jays.

34
00:01:52,480 --> 00:01:55,160
Speaker 1: These are these are these are expensive nut butters. But

35
00:01:55,400 --> 00:01:58,760
Speaker 1: there's something Liz prioritizes. But what she wasn't expecting was

36
00:01:58,800 --> 00:02:02,559
Speaker 1: a pitch to the workers who work there that she's

37
00:02:02,640 --> 00:02:05,040
Speaker 1: never even seen or met face to face, but when

38
00:02:05,040 --> 00:02:08,400
Speaker 1: she's placing it online order, which just again baffles me.

39
00:02:08,520 --> 00:02:14,000
Speaker 1: I continue to be shocked at how extensive tipping culture

40
00:02:14,000 --> 00:02:15,840
Speaker 1: has gone, how much worse it has gotten, how much

41
00:02:16,080 --> 00:02:20,360
Speaker 1: more fraught even and everywhere you go, whether it's counter service,

42
00:02:20,520 --> 00:02:22,520
Speaker 1: it's like, Hey, would you want to tip eighteen twenty

43
00:02:22,600 --> 00:02:24,480
Speaker 1: or thirty percent? You know, like, what do you what

44
00:02:24,720 --> 00:02:24,880
Speaker 1: do you.

45
00:02:24,880 --> 00:02:26,919
Speaker 2: Think it's going to continue? Though, because I almost feel

46
00:02:26,960 --> 00:02:32,160
Speaker 2: like we've reached a point, a tipping point, if I

47
00:02:32,200 --> 00:02:34,400
Speaker 2: hope we have. I think maybe we're at the tippy

48
00:02:34,400 --> 00:02:37,000
Speaker 2: top of the amount of tips that are that are

49
00:02:37,000 --> 00:02:39,120
Speaker 2: being asked to this because I feel like so much

50
00:02:39,160 --> 00:02:40,880
Speaker 2: of it. We just saw such a run up during

51
00:02:40,919 --> 00:02:45,160
Speaker 2: the pandemic with folks getting cash infusions. Folks there's like

52
00:02:45,200 --> 00:02:47,600
Speaker 2: a desire to make sure everyone stays employed, Like in

53
00:02:47,639 --> 00:02:49,960
Speaker 2: a sense everyone was. It felt like everyone was kind

54
00:02:49,960 --> 00:02:51,680
Speaker 2: of like looking out for each other. There's like this

55
00:02:51,760 --> 00:02:56,120
Speaker 2: collective sense of community. But as things like student loans

56
00:02:56,160 --> 00:03:00,720
Speaker 2: are resumed and I don't know a's incomes having with inflation,

57
00:03:00,800 --> 00:03:02,239
Speaker 2: Like there are all these factors that in my mind

58
00:03:02,280 --> 00:03:04,640
Speaker 2: feel like the DEMI money is dwindled. Yeah, Like in

59
00:03:04,680 --> 00:03:08,440
Speaker 2: my mind, I can't imagine that the tipping culture, Uh

60
00:03:08,639 --> 00:03:10,760
Speaker 2: what is being asked of us that that would continue

61
00:03:11,000 --> 00:03:13,520
Speaker 2: into the feture. No, I don't know. I think you're right.

62
00:03:13,560 --> 00:03:16,160
Speaker 1: I think it had a moment and that moment is

63
00:03:16,360 --> 00:03:19,880
Speaker 1: hopefully on the decline because people are gonna not just

64
00:03:20,000 --> 00:03:22,200
Speaker 1: kind of roll their eyes and stuff like this. In

65
00:03:22,200 --> 00:03:24,359
Speaker 1: the future, they're gonna start to make decisions about where

66
00:03:24,360 --> 00:03:26,440
Speaker 1: they shop in the future based on the things that

67
00:03:26,440 --> 00:03:28,399
Speaker 1: they're being asked and how much how much money they're

68
00:03:28,440 --> 00:03:31,000
Speaker 1: kind of being shaken down for. And yeah, if I'm

69
00:03:31,040 --> 00:03:34,280
Speaker 1: buying none of online and I'm already paying a premium

70
00:03:34,280 --> 00:03:35,720
Speaker 1: for the product, I don't want to be asked to

71
00:03:35,720 --> 00:03:36,360
Speaker 1: tip afterwards.

72
00:03:36,360 --> 00:03:37,680
Speaker 2: And in fact, that might be turn me off from

73
00:03:37,720 --> 00:03:39,920
Speaker 2: your company all together. I would I would say that

74
00:03:40,040 --> 00:03:42,680
Speaker 2: if it was like it's like an uber super local

75
00:03:42,960 --> 00:03:45,560
Speaker 2: company where maybe I have been to the facility and

76
00:03:45,600 --> 00:03:48,120
Speaker 2: I know that it's just this one family and normally

77
00:03:48,840 --> 00:03:49,480
Speaker 2: I go there in.

78
00:03:49,360 --> 00:03:51,680
Speaker 1: Person, like Sheila and Rob and they're running the place there.

79
00:03:51,800 --> 00:03:54,640
Speaker 2: Okay, but like the way that but even then that

80
00:03:54,680 --> 00:03:56,840
Speaker 2: email she said, like it made it seem like a warehouse. Yeah,

81
00:03:56,880 --> 00:03:59,360
Speaker 2: and it's just like, wait, am I tipping warehouse workers?

82
00:03:59,400 --> 00:04:01,720
Speaker 2: Maybe they should pay the warehouse working exactly?

83
00:04:02,840 --> 00:04:04,640
Speaker 1: And then and then maybe I don't know, charge more

84
00:04:04,640 --> 00:04:08,000
Speaker 1: for the product instead of asking for tips, because and

85
00:04:08,040 --> 00:04:09,720
Speaker 1: that is the problem I think most people have. It's like,

86
00:04:09,800 --> 00:04:11,640
Speaker 1: just tell me what the price is. I'll decide whether

87
00:04:11,720 --> 00:04:13,520
Speaker 1: or I want to pay for it. And this sort

88
00:04:13,520 --> 00:04:16,080
Speaker 1: of like begging for tips thing. Uh, you know when

89
00:04:16,120 --> 00:04:19,200
Speaker 1: you especially in places where it used to not be expected,

90
00:04:19,839 --> 00:04:23,120
Speaker 1: and we were just normalizing tipping in all these areas.

91
00:04:23,400 --> 00:04:25,520
Speaker 1: I think for some it makes people question whether or

92
00:04:25,560 --> 00:04:27,520
Speaker 1: not they should be tipping in normal circumstances, which is

93
00:04:27,560 --> 00:04:30,320
Speaker 1: not good, right, because when you're when you're actually sitting

94
00:04:30,360 --> 00:04:33,640
Speaker 1: down to eat somewhere, you should be generous tipping in

95
00:04:33,680 --> 00:04:36,520
Speaker 1: those situations. But then these other places the boy cried

96
00:04:36,520 --> 00:04:40,160
Speaker 1: wolf on on tipping to some you know, worker in

97
00:04:40,240 --> 00:04:42,640
Speaker 1: a factory when they are getting paid a wage and

98
00:04:42,680 --> 00:04:44,600
Speaker 1: they should be getting paid if they need to get

99
00:04:44,600 --> 00:04:46,080
Speaker 1: paid more than these companies need to pay them more,

100
00:04:46,080 --> 00:04:47,000
Speaker 1: in charge more for the service.

101
00:04:47,040 --> 00:04:49,600
Speaker 2: But so yeah, but here's the thing. You always have

102
00:04:49,680 --> 00:04:52,599
Speaker 2: a choice choice tip, in which case it's not a

103
00:04:52,600 --> 00:04:55,800
Speaker 2: tip anymore. Yeah, then it's a fee. But as individuals,

104
00:04:55,880 --> 00:04:58,320
Speaker 2: we always have that autonomy, right, Like we have the

105
00:04:58,360 --> 00:05:01,919
Speaker 2: agency to be able to and you have the ability

106
00:05:01,920 --> 00:05:03,599
Speaker 2: to say, I'm gonna get my nut butter elsewhere because

107
00:05:03,640 --> 00:05:05,839
Speaker 2: that annoys me. I'm gonna go to Costco and buy

108
00:05:06,279 --> 00:05:09,240
Speaker 2: like five pounds of nutbudds. Right, But enough about tipping.

109
00:05:09,240 --> 00:05:11,440
Speaker 2: Before we get to our questions, let's introduce the beer

110
00:05:12,279 --> 00:05:14,919
Speaker 2: you and I are enjoying, a Strawberry Lemonade Sunset. This

111
00:05:15,040 --> 00:05:17,280
Speaker 2: is a beer by InterVoice Brewing where we had our

112
00:05:17,480 --> 00:05:20,200
Speaker 2: listener hang not too long ago here in Atlanta.

113
00:05:20,200 --> 00:05:21,720
Speaker 1: We'll give our thoughts on this one at the end

114
00:05:21,720 --> 00:05:24,000
Speaker 1: of the episode, but let's move on to really nice

115
00:05:24,040 --> 00:05:25,040
Speaker 1: it does well.

116
00:05:25,279 --> 00:05:28,000
Speaker 2: Let's get to our listener questions. Matt and if.

117
00:05:28,040 --> 00:05:29,480
Speaker 1: By the way, if you're listening and you're like, I've

118
00:05:29,520 --> 00:05:31,640
Speaker 1: got a money question, I'd love Matt and Joel to

119
00:05:31,640 --> 00:05:33,040
Speaker 1: tackle it soon on the show.

120
00:05:33,080 --> 00:05:33,920
Speaker 2: We'd love to do that.

121
00:05:34,279 --> 00:05:36,359
Speaker 1: Just go to how tomoney dot com slash ask for

122
00:05:36,400 --> 00:05:39,240
Speaker 1: the simple instructions for how to get your question to

123
00:05:39,680 --> 00:05:42,000
Speaker 1: our inbox and hopefully we can take it on the

124
00:05:42,040 --> 00:05:44,720
Speaker 1: next ask HTM episode. Let's be honest, you don't even

125
00:05:44,720 --> 00:05:46,480
Speaker 1: need to read the instructions for cord of voice memo

126
00:05:46,800 --> 00:05:49,800
Speaker 1: email it. Our way is that simple. But Matt, let's

127
00:05:49,800 --> 00:05:52,279
Speaker 1: get to our first question of this episode. This one

128
00:05:52,480 --> 00:05:57,080
Speaker 1: comes from a listener who is curious about efficiency when

129
00:05:57,440 --> 00:06:00,000
Speaker 1: using her cell phone. Not in the United States.

130
00:06:00,680 --> 00:06:04,520
Speaker 3: Hydrol and Matt, this is seta from Sacramento California. I

131
00:06:04,560 --> 00:06:08,560
Speaker 3: had a question regarding international roaming. I know you guys

132
00:06:08,600 --> 00:06:11,080
Speaker 3: just did a podcast on that not too long ago,

133
00:06:11,680 --> 00:06:15,440
Speaker 3: and I have I also have Mint and have been

134
00:06:15,480 --> 00:06:20,120
Speaker 3: struggling with, you know, the international roaming data. Using the

135
00:06:20,240 --> 00:06:25,080
Speaker 3: Mint international roaming data, it does go really fast. And

136
00:06:25,480 --> 00:06:28,400
Speaker 3: in my search I came across an app called airlow.

137
00:06:29,160 --> 00:06:31,919
Speaker 3: It's been it's been popping up a lot for me

138
00:06:32,600 --> 00:06:35,400
Speaker 3: on my YouTube search, and I was wondering if you

139
00:06:35,400 --> 00:06:39,120
Speaker 3: guys had heard of it. It's spelled ai r A

140
00:06:39,839 --> 00:06:43,560
Speaker 3: l O, and it's supposed to work as you're supposed to.

141
00:06:43,720 --> 00:06:47,960
Speaker 3: It's an eSIM. You purchase a SIMS for the countries

142
00:06:48,000 --> 00:06:50,279
Speaker 3: that you are going to travel for, and you can

143
00:06:50,400 --> 00:06:53,839
Speaker 3: purchase different data plans. A lot of YouTubers have been

144
00:06:53,920 --> 00:06:55,960
Speaker 3: raving about it, and I was wondering if you guys

145
00:06:56,000 --> 00:06:59,120
Speaker 3: have heard of it, and if you recommend it for

146
00:06:59,279 --> 00:07:03,200
Speaker 3: international roaming plans. I would love to hear your thoughts

147
00:07:03,240 --> 00:07:06,840
Speaker 3: on this, and I appreciate it and I love your podcast,

148
00:07:06,880 --> 00:07:08,840
Speaker 3: by the way, it's great. I listened to all the

149
00:07:08,920 --> 00:07:11,840
Speaker 3: new episodes that come out. Keep up the good work

150
00:07:12,080 --> 00:07:12,840
Speaker 3: and thanks again.

151
00:07:13,200 --> 00:07:15,720
Speaker 2: All right, Sata, thank you so much for being a

152
00:07:15,760 --> 00:07:18,200
Speaker 2: regular listener. We need folks like you to listen to

153
00:07:18,400 --> 00:07:22,960
Speaker 2: every single episode, the Few, the Proud. But let's you're

154
00:07:23,000 --> 00:07:27,280
Speaker 2: specifically asking about international cell phone usage. This is like

155
00:07:27,360 --> 00:07:29,120
Speaker 2: one of the things that honestly, it used to be

156
00:07:29,160 --> 00:07:32,280
Speaker 2: a huge problem, but in recent years it's become so

157
00:07:32,400 --> 00:07:36,280
Speaker 2: much more manageable, man, Matt, You remember just long distance calling, traveling.

158
00:07:37,040 --> 00:07:40,720
Speaker 1: Think about how much easier traveling anywhere has gotten these days.

159
00:07:40,760 --> 00:07:42,080
Speaker 1: Emily and I when we were in New York, we

160
00:07:42,080 --> 00:07:44,880
Speaker 1: were just admiring Google mapps and how getting around the

161
00:07:44,920 --> 00:07:48,360
Speaker 1: subway has become a billion times easier. And so it's

162
00:07:48,480 --> 00:07:51,840
Speaker 1: just ten fifteen years ago, at twenty twenty five years

163
00:07:51,880 --> 00:07:53,040
Speaker 1: ago it was or even so much.

164
00:07:52,920 --> 00:07:55,240
Speaker 2: More difficultet one hundred. Like that's the thing, like oftentimes

165
00:07:55,280 --> 00:07:58,480
Speaker 2: there's comparisons about, oh, well, there's a question would you

166
00:07:58,520 --> 00:08:01,120
Speaker 2: rather be a millionaire one hundred years or just an

167
00:08:01,160 --> 00:08:04,480
Speaker 2: average income person today? And the life that we can

168
00:08:04,520 --> 00:08:07,480
Speaker 2: live as an average American is so much better than

169
00:08:07,760 --> 00:08:09,480
Speaker 2: the life of a millionaire form one hundred years ago

170
00:08:09,480 --> 00:08:12,320
Speaker 2: because of some of the simple luxuries that we all

171
00:08:12,640 --> 00:08:16,600
Speaker 2: have access to. Plumbing even that even I was gonna

172
00:08:16,640 --> 00:08:19,320
Speaker 2: say with like a super cheap cell phone company like

173
00:08:19,360 --> 00:08:22,240
Speaker 2: Mint Mobile, which sayda awesome to hear that you are

174
00:08:22,360 --> 00:08:25,400
Speaker 2: with Mint. They do have an option for using your

175
00:08:25,440 --> 00:08:29,000
Speaker 2: your same plan, but getting international usage out of it

176
00:08:29,080 --> 00:08:32,640
Speaker 2: is a bit tougher, like you mentioned, like we discussed

177
00:08:32,679 --> 00:08:36,079
Speaker 2: actually a few weeks back, the service that Mint provides

178
00:08:36,120 --> 00:08:39,400
Speaker 2: when it comes to their international plans. It just I'll

179
00:08:39,440 --> 00:08:40,960
Speaker 2: be honest, this straight up sucks. Yeah, and it's not

180
00:08:41,000 --> 00:08:43,520
Speaker 2: that the services that is that it is so expensive.

181
00:08:43,559 --> 00:08:45,560
Speaker 2: We tended to use it for the first time in

182
00:08:45,679 --> 00:08:47,480
Speaker 2: May in Scotland. Terrible.

183
00:08:47,559 --> 00:08:49,800
Speaker 1: Yeah, we oh my gosh, we love Mint in the

184
00:08:49,920 --> 00:08:53,679
Speaker 1: contiguous forty eight states or whatever, but when trying to

185
00:08:53,760 --> 00:08:55,160
Speaker 1: use it abroad, it's it's bad.

186
00:08:55,240 --> 00:08:57,880
Speaker 2: It's terrible. So last time we talked about it, we

187
00:08:58,400 --> 00:09:01,400
Speaker 2: tried to put it in perspective, but this is what

188
00:09:01,440 --> 00:09:04,720
Speaker 2: they charged. They charged twenty cents per megabyte. But even

189
00:09:04,840 --> 00:09:06,200
Speaker 2: last time we talked about it, I don't know if

190
00:09:06,240 --> 00:09:08,199
Speaker 2: we were able to make it clear enough like what

191
00:09:08,240 --> 00:09:10,960
Speaker 2: that means because and this is so let's provide an

192
00:09:10,960 --> 00:09:15,600
Speaker 2: Apple to apples comparison. Most a broad cell phone providers

193
00:09:15,600 --> 00:09:18,280
Speaker 2: that we're going to discuss, you can get gigabytes for

194
00:09:18,320 --> 00:09:22,000
Speaker 2: something like like a dollar thirty or two dollars per gigabyte.

195
00:09:22,520 --> 00:09:26,480
Speaker 2: Men Mobile, they're charging twenty cents per megabyte, which means

196
00:09:27,160 --> 00:09:31,000
Speaker 2: two dollars four ten, twenty dollars for one hundred. You're

197
00:09:31,040 --> 00:09:34,400
Speaker 2: looking at two hundred dollars for a gigabyte two hundred. Yeah,

198
00:09:34,440 --> 00:09:37,880
Speaker 2: that is it's over one hundred times more expensive than

199
00:09:38,080 --> 00:09:40,240
Speaker 2: what some of the most competitive providers are going to

200
00:09:40,280 --> 00:09:42,200
Speaker 2: be overseas. Yeah, this is a place where Mint false

201
00:09:42,240 --> 00:09:44,679
Speaker 2: found on this they definitely have yea. Yeah, I kind

202
00:09:44,679 --> 00:09:45,199
Speaker 2: of screwed the pitch.

203
00:09:45,360 --> 00:09:47,120
Speaker 1: Still love Mint, but man, I wish they'd pick up

204
00:09:47,120 --> 00:09:49,760
Speaker 1: their international options because those are trash and say that

205
00:09:49,840 --> 00:09:52,160
Speaker 1: if you travel regularly, we still think Google Fi. We're

206
00:09:52,200 --> 00:09:54,120
Speaker 1: gonna get to party your other question two in a second,

207
00:09:54,160 --> 00:09:55,960
Speaker 1: but we still think Google Fi is likely your best

208
00:09:55,960 --> 00:09:58,480
Speaker 1: bet because specifically, if you have four lines on a

209
00:09:58,480 --> 00:10:01,079
Speaker 1: Google Find plan, we're talking about a eighty dollars monthly bill,

210
00:10:01,080 --> 00:10:03,160
Speaker 1: which is twenty dollars a line. Sadly, the weird thing

211
00:10:03,200 --> 00:10:05,559
Speaker 1: about Google Fi is if you have two lines, it's

212
00:10:05,559 --> 00:10:06,199
Speaker 1: still eighty.

213
00:10:06,040 --> 00:10:06,600
Speaker 2: Dollars a month.

214
00:10:06,720 --> 00:10:09,719
Speaker 1: So you really really really benefit by adding two more

215
00:10:09,720 --> 00:10:11,959
Speaker 1: people and splitting the cost of that service with them

216
00:10:12,760 --> 00:10:15,880
Speaker 1: three others exactly find three people, and that's a great deal.

217
00:10:16,160 --> 00:10:17,920
Speaker 1: That's right in the sweet spot of what we want

218
00:10:17,920 --> 00:10:21,200
Speaker 1: people paying. And Google's international offering is pretty darn great too, right.

219
00:10:21,240 --> 00:10:23,520
Speaker 1: You can you can bump up to their more expensive option,

220
00:10:23,600 --> 00:10:25,320
Speaker 1: which doubles the price, and then you can use it

221
00:10:25,360 --> 00:10:28,480
Speaker 1: in two hundred plus countries. And so again, if we're

222
00:10:28,480 --> 00:10:32,520
Speaker 1: talking four lines forty dollars a month for unlimited everything international,

223
00:10:32,559 --> 00:10:33,600
Speaker 1: that's pretty great too.

224
00:10:33,760 --> 00:10:34,439
Speaker 2: That's pretty awesome.

225
00:10:34,480 --> 00:10:36,040
Speaker 1: And then you can always bump down your plan to

226
00:10:36,080 --> 00:10:38,160
Speaker 1: the cheaper one when you return to the States, which

227
00:10:38,200 --> 00:10:41,720
Speaker 1: is great. So it just eliminates any sort of hassle factor, which,

228
00:10:42,320 --> 00:10:44,960
Speaker 1: like I said, it's gotten so much easier, and we'll

229
00:10:45,040 --> 00:10:47,080
Speaker 1: get into the heart of that in just a second.

230
00:10:47,400 --> 00:10:51,959
Speaker 1: But still sticking with one plan that you get domestically

231
00:10:52,000 --> 00:10:53,640
Speaker 1: and being able to as oppose it going with an

232
00:10:53,760 --> 00:10:55,840
Speaker 1: entirely different product, being able to ramp it up and

233
00:10:55,880 --> 00:10:59,360
Speaker 1: down at will, I think is still the easiest, easy button.

234
00:10:59,400 --> 00:11:02,160
Speaker 1: It's very appealing. Yeah, So I think Google Fi is

235
00:11:02,200 --> 00:11:04,640
Speaker 1: definitely one of the best providers out there, and especially

236
00:11:04,679 --> 00:11:08,720
Speaker 1: if you travel international regularly, they're probably the best cell phone.

237
00:11:08,480 --> 00:11:10,440
Speaker 2: Provider to be with. Yeah, okay, so something else that

238
00:11:10,559 --> 00:11:13,120
Speaker 2: is worth mentioning the listener. Greg. He actually reached out

239
00:11:13,120 --> 00:11:16,160
Speaker 2: to us after we talked about mint Mobile last time

240
00:11:16,400 --> 00:11:19,440
Speaker 2: when we're talking about international travel, and he mentioned that

241
00:11:19,800 --> 00:11:23,920
Speaker 2: most modern cell phones actually have two simslots. Like there's

242
00:11:23,960 --> 00:11:26,480
Speaker 2: the you know, the traditional SIM card that you can

243
00:11:26,520 --> 00:11:29,360
Speaker 2: stick in there that when you bought your iPhone or

244
00:11:29,360 --> 00:11:31,560
Speaker 2: whatever phone years ago you had to swap that swap

245
00:11:31,600 --> 00:11:32,840
Speaker 2: it out in order to get your number. You can

246
00:11:32,880 --> 00:11:36,080
Speaker 2: have like a bobby pinned in a paper clip exactly.

247
00:11:36,240 --> 00:11:40,640
Speaker 2: But then there's also an e SIM option and there's

248
00:11:40,679 --> 00:11:43,199
Speaker 2: not like a second slot. Actually, depending on your phone,

249
00:11:43,679 --> 00:11:47,360
Speaker 2: you can have multiple SUM providers for your one phone

250
00:11:47,360 --> 00:11:49,520
Speaker 2: and just like switch back and forth at will exactly.

251
00:11:49,559 --> 00:11:52,280
Speaker 1: But this makes international travel a lot easier because you

252
00:11:52,320 --> 00:11:54,880
Speaker 1: can essentially have two services at the same time.

253
00:11:54,960 --> 00:11:57,679
Speaker 2: And then you just choose which one you want to use.

254
00:11:57,720 --> 00:12:01,000
Speaker 2: You can toggling in settings. Yeah so literally at leased

255
00:12:01,000 --> 00:12:04,800
Speaker 2: on the iPhone, you just change what the defaults provider is.

256
00:12:04,960 --> 00:12:07,199
Speaker 2: But they make it even easier though, too, because you

257
00:12:07,200 --> 00:12:09,000
Speaker 2: can what's so great about it is you can choose

258
00:12:09,080 --> 00:12:10,440
Speaker 2: let's say you're going to make a call, you can

259
00:12:10,480 --> 00:12:13,640
Speaker 2: in the moment choose to go with the other cellular provider.

260
00:12:13,880 --> 00:12:16,080
Speaker 2: So depending on I think a lot of folks do

261
00:12:16,120 --> 00:12:18,520
Speaker 2: this with like business lines, right, and so if you

262
00:12:18,679 --> 00:12:21,920
Speaker 2: have an actual separate number but you want to be

263
00:12:21,960 --> 00:12:23,280
Speaker 2: able to use it on the same device, it's a

264
00:12:23,280 --> 00:12:25,720
Speaker 2: way of doing that without using something like Google Voice

265
00:12:25,720 --> 00:12:29,600
Speaker 2: with call forwarding or all that. It's literally using actual

266
00:12:29,640 --> 00:12:32,840
Speaker 2: service with your actual phone. But what's great about that is, like,

267
00:12:32,880 --> 00:12:35,960
Speaker 2: you don't have to buy a physical SIM once, say

268
00:12:36,000 --> 00:12:37,600
Speaker 2: you go to Europe or wherever it is that you

269
00:12:37,600 --> 00:12:39,559
Speaker 2: want to travel. You can still do that if you want.

270
00:12:39,600 --> 00:12:42,920
Speaker 2: But the ability to install a new esome for basically

271
00:12:43,000 --> 00:12:45,440
Speaker 2: any carrier out there in the world is amazing. The

272
00:12:45,480 --> 00:12:48,280
Speaker 2: ability to do that remotely, to not have to go

273
00:12:48,360 --> 00:12:51,679
Speaker 2: somewhere and buy a card is incredibly convenient.

274
00:12:51,720 --> 00:12:55,120
Speaker 1: Yeah, you have a gas station or a drug store

275
00:12:55,280 --> 00:12:58,160
Speaker 1: or some sort of internet cafe in order to get

276
00:12:58,440 --> 00:13:00,760
Speaker 1: the actual physical SIM card. And so you know from

277
00:13:00,800 --> 00:13:02,960
Speaker 1: the airport, you had to get to that location, buy

278
00:13:02,960 --> 00:13:04,880
Speaker 1: the SIM card. You want to get it in your phone,

279
00:13:04,880 --> 00:13:07,160
Speaker 1: take the other one out. Now you're going at the

280
00:13:07,160 --> 00:13:11,160
Speaker 1: airport where you're paying more, pay more than yes, exactly charging. Yeah,

281
00:13:11,200 --> 00:13:12,760
Speaker 1: and so it's it's just so much easier now to

282
00:13:12,760 --> 00:13:14,760
Speaker 1: do the sum. You can set it up ahead of time,

283
00:13:14,920 --> 00:13:16,840
Speaker 1: which is great, so that when you when you get there,

284
00:13:16,880 --> 00:13:18,680
Speaker 1: you hop on airport Wi Fi, you make the switch

285
00:13:18,840 --> 00:13:21,199
Speaker 1: and boom, you're already. You're there, You're on your you're

286
00:13:21,240 --> 00:13:23,720
Speaker 1: on your other plan. And aer A Low which you mentioned,

287
00:13:23,880 --> 00:13:26,400
Speaker 1: is one of those SIM providers right that you could

288
00:13:26,400 --> 00:13:28,760
Speaker 1: opt to use. And so when you use an ESM provider,

289
00:13:28,800 --> 00:13:31,480
Speaker 1: you're basically buying the data plan ahead of time, yep,

290
00:13:31,520 --> 00:13:33,680
Speaker 1: while you're planning your trip, and then you install the

291
00:13:33,800 --> 00:13:36,280
Speaker 1: SM via those few clicks that we talked about. There's

292
00:13:36,280 --> 00:13:38,440
Speaker 1: a QR code oftentimes that can help you activate it.

293
00:13:38,640 --> 00:13:41,079
Speaker 1: You're able to connect and use your phone like normal then,

294
00:13:41,840 --> 00:13:44,320
Speaker 1: and the prices are incredibly reasonable for a lot of

295
00:13:44,320 --> 00:13:47,560
Speaker 1: these M providers, unlike like you said, which you pay

296
00:13:47,760 --> 00:13:50,319
Speaker 1: with somebody like Mint, and so they're they're also much

297
00:13:50,400 --> 00:13:53,199
Speaker 1: much cheaper than what Verizon or AT and T will

298
00:13:53,240 --> 00:13:55,280
Speaker 1: charge you. Oftentimes they'll charge you for a month or

299
00:13:55,320 --> 00:13:57,440
Speaker 1: for you know, a certain amount for days of usage

300
00:13:57,520 --> 00:13:59,880
Speaker 1: or per gig, and and that can rack up and

301
00:14:00,160 --> 00:14:02,520
Speaker 1: really expensive really quickly too. And considering how easy it

302
00:14:02,600 --> 00:14:05,200
Speaker 1: is to do this e sim thing to find a

303
00:14:05,240 --> 00:14:09,120
Speaker 1: good eSIM provider that has reasonable rates, to make the purchase,

304
00:14:09,160 --> 00:14:11,040
Speaker 1: and then make the switch once you're over in the country.

305
00:14:11,280 --> 00:14:14,880
Speaker 1: It's just it's so simple, and it's so much less

306
00:14:14,880 --> 00:14:18,199
Speaker 1: expensive to go that route, either that or the Google

307
00:14:18,200 --> 00:14:21,120
Speaker 1: Fire route than it is to basically buy service ahead

308
00:14:21,120 --> 00:14:22,920
Speaker 1: of time from your US provider.

309
00:14:23,000 --> 00:14:27,200
Speaker 2: Sure, yeah, and I mean Airlows specifically. It's it seems solid.

310
00:14:27,720 --> 00:14:30,800
Speaker 2: There are were some bad reviews from frustrated customers on

311
00:14:31,120 --> 00:14:33,800
Speaker 2: what one website that we checked out, but no mad

312
00:14:33,880 --> 00:14:36,520
Speaker 2: that's actually another one that we heard good things about.

313
00:14:36,680 --> 00:14:38,600
Speaker 2: Bottom line, the service isn't going to be all that different,

314
00:14:38,640 --> 00:14:41,000
Speaker 2: so looking at the price per gig is going to

315
00:14:41,000 --> 00:14:43,960
Speaker 2: be the main consideration, and oftentimes, like on the lower end,

316
00:14:44,120 --> 00:14:45,760
Speaker 2: like you are looking at something closer to like a

317
00:14:45,800 --> 00:14:48,320
Speaker 2: dollar thirty a gig, on the high end something like

318
00:14:48,320 --> 00:14:52,000
Speaker 2: two dollars. And there's some different sites online, some different aggregators.

319
00:14:52,120 --> 00:14:54,640
Speaker 2: There's a site actually that like I mentioned listener greg

320
00:14:55,080 --> 00:14:58,960
Speaker 2: esimdb so esimdatabase. I think it's dot org, but we'll

321
00:14:59,000 --> 00:15:00,440
Speaker 2: make sure to link to that in the show notes.

322
00:15:00,480 --> 00:15:03,960
Speaker 2: But it allows you to compare these prepaid plans from

323
00:15:03,960 --> 00:15:06,480
Speaker 2: anywhere in the world. And what's great about it as

324
00:15:06,520 --> 00:15:09,800
Speaker 2: well is that you can focus specifically on the country

325
00:15:10,120 --> 00:15:12,160
Speaker 2: where you know you are going to be traveling, right,

326
00:15:12,200 --> 00:15:16,080
Speaker 2: so it's not just let's say a European eSIM provider,

327
00:15:16,120 --> 00:15:18,640
Speaker 2: it's specific to the country and so they might be

328
00:15:18,680 --> 00:15:21,600
Speaker 2: able to provide you with the absolute best rates, because hey,

329
00:15:21,800 --> 00:15:24,320
Speaker 2: all you truly need is a car that works in France,

330
00:15:24,600 --> 00:15:26,800
Speaker 2: not one that works for the entire EU. Sure.

331
00:15:26,880 --> 00:15:29,320
Speaker 1: Yeah yeah, And by the way, it's esimdb dot com,

332
00:15:29,360 --> 00:15:31,760
Speaker 1: dot dot com dot work. Not nice, but it's one

333
00:15:31,760 --> 00:15:33,840
Speaker 1: of those great aggregator sites, which is like, yeah, you

334
00:15:33,880 --> 00:15:36,600
Speaker 1: plug in where you're trying to go, and then it says, okay, boom,

335
00:15:36,640 --> 00:15:40,480
Speaker 1: here's a list of ESM providers and what they charge,

336
00:15:40,680 --> 00:15:42,320
Speaker 1: and so check out a few of the lowest cost

337
00:15:42,400 --> 00:15:44,640
Speaker 1: providers that pop up when you're scanning that site, and

338
00:15:44,680 --> 00:15:46,760
Speaker 1: then maybe dig in just a little bit of those companies.

339
00:15:46,760 --> 00:15:47,360
Speaker 2: Read their reviews.

340
00:15:47,400 --> 00:15:49,200
Speaker 1: Oh no, this one, this one, this one checks out,

341
00:15:49,240 --> 00:15:51,040
Speaker 1: This one does good, and it's one of the one

342
00:15:51,040 --> 00:15:53,240
Speaker 1: of the cheapest prices available as well, So I think

343
00:15:53,240 --> 00:15:55,440
Speaker 1: that can be a great resource. Big thanks to listener

344
00:15:55,440 --> 00:15:58,040
Speaker 1: Greg for mentioning to mentioning it to us. I didn't

345
00:15:58,080 --> 00:16:00,960
Speaker 1: know about ESMDB, but I'm glad it's a good site.

346
00:16:01,080 --> 00:16:02,920
Speaker 2: Lad you know it exists. I feel like I'm an

347
00:16:02,920 --> 00:16:06,080
Speaker 2: international travel nube to a certain extent. Yeah, Like, I know,

348
00:16:06,200 --> 00:16:09,040
Speaker 2: we got four kids, it's been like ten years, over

349
00:16:09,080 --> 00:16:11,400
Speaker 2: ten years since I traveled abroad, and so but like

350
00:16:11,840 --> 00:16:14,240
Speaker 2: just until this year, yeah, until earlier this year exactly.

351
00:16:14,320 --> 00:16:16,080
Speaker 2: But digging into it even more, I'm like, oh my gosh,

352
00:16:16,080 --> 00:16:18,600
Speaker 2: this is way easier than it used to be. There

353
00:16:18,680 --> 00:16:21,480
Speaker 2: is absolutely no reason, and it's we didn't pay two

354
00:16:21,520 --> 00:16:24,960
Speaker 2: hundred dollars per gig when we went to Scotland, but

355
00:16:25,040 --> 00:16:27,160
Speaker 2: we also didn't have data, and so we were just

356
00:16:27,200 --> 00:16:29,400
Speaker 2: limited to using our phones wherever we had. Why.

357
00:16:29,440 --> 00:16:31,280
Speaker 1: I know, I paid fine, I paid for ten bucks

358
00:16:31,320 --> 00:16:34,200
Speaker 1: worth of data, but I didn't realize how extremely limited

359
00:16:34,200 --> 00:16:34,960
Speaker 1: that data was going to be.

360
00:16:34,960 --> 00:16:36,200
Speaker 2: And I got to like three pictures.

361
00:16:36,560 --> 00:16:38,840
Speaker 1: Yeah yeah, so it ran out in like no time flat,

362
00:16:38,880 --> 00:16:40,720
Speaker 1: and I was like, oh, this sucks. And so when

363
00:16:40,720 --> 00:16:42,080
Speaker 1: you put it into context like that, you're like, wait

364
00:16:42,080 --> 00:16:44,800
Speaker 1: a second, because it's outrageously expensive. Yes, and there was

365
00:16:44,840 --> 00:16:46,400
Speaker 1: a better way, and you and I we should have

366
00:16:46,400 --> 00:16:47,920
Speaker 1: been smarter and we should have known that ahead of time,

367
00:16:47,960 --> 00:16:50,040
Speaker 1: but now we do and now say to no yea.

368
00:16:50,200 --> 00:16:53,160
Speaker 2: So yeah, And we were just talking about this this morning.

369
00:16:53,160 --> 00:16:55,520
Speaker 2: As the kids are getting older, I mean Kate and I,

370
00:16:55,560 --> 00:16:57,880
Speaker 2: we are going to be traveling more. Yeah, and finding

371
00:16:57,920 --> 00:17:00,920
Speaker 2: ways to cut those costs. That's definitely something that we're

372
00:17:00,960 --> 00:17:02,920
Speaker 2: gonna be doing. I will say, there's something nice about

373
00:17:02,960 --> 00:17:06,720
Speaker 2: having to rely on your will maps, pold school maps,

374
00:17:06,760 --> 00:17:08,840
Speaker 2: and just kind of walking around, like asking people gas

375
00:17:08,840 --> 00:17:12,040
Speaker 2: station directions like where you should go, as opposed to

376
00:17:12,600 --> 00:17:15,919
Speaker 2: checking the reviews and digitally reserving stuff. You know, Like

377
00:17:16,040 --> 00:17:19,280
Speaker 2: there's certainly we're praising the advances and technology and what

378
00:17:19,320 --> 00:17:20,840
Speaker 2: that allows us, but there's something that you kind of

379
00:17:20,840 --> 00:17:24,360
Speaker 2: miss out on from having more of those in person interactions. True,

380
00:17:24,359 --> 00:17:25,960
Speaker 2: you know what I'm saying. Yeah, But we've got more

381
00:17:26,400 --> 00:17:28,119
Speaker 2: to get to today. We're gonna talk about pension, We're

382
00:17:28,160 --> 00:17:30,239
Speaker 2: going to talk about paying to clean your house. We'll

383
00:17:30,280 --> 00:17:32,280
Speaker 2: get to all of that and more right after this.

384
00:17:40,480 --> 00:17:41,080
Speaker 2: All right, we're back.

385
00:17:41,119 --> 00:17:43,960
Speaker 1: We've got more money questions to get to on this episode.

386
00:17:44,200 --> 00:17:46,719
Speaker 1: In just a second, we've got a listener who who

387
00:17:46,760 --> 00:17:49,240
Speaker 1: wants to know whether or not he should be buying

388
00:17:49,359 --> 00:17:52,840
Speaker 1: what his financial advisor friend is selling. But before we

389
00:17:52,840 --> 00:17:55,000
Speaker 1: get to that, we've got a listener who's a teacher

390
00:17:55,240 --> 00:17:57,439
Speaker 1: and it sounds like she's in that fire movement.

391
00:17:57,480 --> 00:17:59,960
Speaker 4: Matt Hide and Matt, my name is Aaron and I

392
00:18:00,000 --> 00:18:02,520
Speaker 4: I'm from right outside of Baltimore. I love your show

393
00:18:02,560 --> 00:18:05,560
Speaker 4: so much, thanks for everything you do, and hope to

394
00:18:05,560 --> 00:18:07,480
Speaker 4: hear an answer to my question if you get a chance.

395
00:18:08,080 --> 00:18:12,480
Speaker 4: I am seventeen years into the thirty years needed in

396
00:18:12,520 --> 00:18:15,800
Speaker 4: the state of Maryland for a full pension for teachers.

397
00:18:16,160 --> 00:18:19,679
Speaker 4: I plan on retiring right at fifty three after I

398
00:18:19,720 --> 00:18:23,160
Speaker 4: have my thirty years in and getting that pension. I

399
00:18:23,320 --> 00:18:26,199
Speaker 4: might work part time and I might not, and the

400
00:18:26,359 --> 00:18:30,159
Speaker 4: pension will cover a significant amount of my retirement. But

401
00:18:30,280 --> 00:18:32,960
Speaker 4: obviously I can't get into my accounts until fifty nine

402
00:18:33,160 --> 00:18:36,680
Speaker 4: and a half. I currently have one hundred and thirty

403
00:18:36,720 --> 00:18:40,840
Speaker 4: five thousand dollars in a roth IRA and only about

404
00:18:40,880 --> 00:18:44,159
Speaker 4: sixteen thousand and my four or three B. My plan

405
00:18:44,400 --> 00:18:46,959
Speaker 4: for between fifty three and fifty nine and a half

406
00:18:47,359 --> 00:18:49,720
Speaker 4: is to start contributing to A four to fifty seven

407
00:18:49,920 --> 00:18:52,640
Speaker 4: so that money is available once I retire, and also

408
00:18:52,760 --> 00:18:57,640
Speaker 4: thinking about maybe cutting into the principle for my roth Ira,

409
00:18:57,840 --> 00:19:00,119
Speaker 4: which I know is not always the best choice. I

410
00:19:00,160 --> 00:19:01,560
Speaker 4: kind of just want to see if you guys think

411
00:19:01,600 --> 00:19:03,320
Speaker 4: I'm on the right track or if there's something else

412
00:19:03,320 --> 00:19:04,040
Speaker 4: I should be doing.

413
00:19:04,520 --> 00:19:07,280
Speaker 2: All right, Aaron has a plan. I love it. She's

414
00:19:07,280 --> 00:19:08,960
Speaker 2: got it all laid out. Oh yeah, And I will

415
00:19:08,960 --> 00:19:11,040
Speaker 2: say when we first listened to her question, I thought

416
00:19:11,080 --> 00:19:14,439
Speaker 2: she was gonna say I'm seventeen years old, and I

417
00:19:14,480 --> 00:19:15,840
Speaker 2: was just like, oh man, this does not sound like

418
00:19:15,840 --> 00:19:17,919
Speaker 2: a I don't know. I guess the seventeen year old

419
00:19:17,960 --> 00:19:20,280
Speaker 2: could sound like Aaron, but probably couldn't have had that

420
00:19:20,320 --> 00:19:22,120
Speaker 2: long of a teaching team. Yeah, def definitely not there

421
00:19:22,359 --> 00:19:24,840
Speaker 2: to teaching from the age of two. Well, speaking of which,

422
00:19:24,920 --> 00:19:26,800
Speaker 2: I'm glad to hear Aaron that you are a teacher, right,

423
00:19:26,840 --> 00:19:29,840
Speaker 2: because we have seen a lot of folks leaving that profession,

424
00:19:30,080 --> 00:19:33,520
Speaker 2: and it's understandable given what it is that we've asked

425
00:19:33,520 --> 00:19:36,360
Speaker 2: of teachers, and how their pay hasn't necessarily kept up

426
00:19:36,480 --> 00:19:38,520
Speaker 2: with what it is that they could get where they

427
00:19:38,840 --> 00:19:40,679
Speaker 2: work for a private company in a lot of cases.

428
00:19:40,680 --> 00:19:43,560
Speaker 2: But it's just one of the most important jobs in existence,

429
00:19:43,840 --> 00:19:45,960
Speaker 2: teaching the next generation. So thank you so much for

430
00:19:46,000 --> 00:19:48,520
Speaker 2: the almost two decades that you've you've put in so far.

431
00:19:48,640 --> 00:19:51,360
Speaker 2: Definitely a sacrifice, right, And we don't give teachers enough

432
00:19:51,359 --> 00:19:54,080
Speaker 2: respect in our society and or enough pay. Yeah, and

433
00:19:54,119 --> 00:19:56,119
Speaker 2: I think maybe we used to, but I feel like

434
00:19:56,200 --> 00:20:00,720
Speaker 2: that's dropped off significantly, especially given what teachers went through

435
00:20:00,760 --> 00:20:03,840
Speaker 2: with COVIDSH I feel like they deserve even more respect

436
00:20:03,920 --> 00:20:08,359
Speaker 2: because their job got doubly not more so hard. So Aaron,

437
00:20:08,359 --> 00:20:11,040
Speaker 2: we think you're awesome, So thank you for your service

438
00:20:11,040 --> 00:20:13,680
Speaker 2: in that profession and retiring at fifty three, that's pretty sweet.

439
00:20:13,680 --> 00:20:15,240
Speaker 2: That's one of those things Matt kind of like we

440
00:20:15,280 --> 00:20:19,399
Speaker 2: talked about with with Lacy Langford talking about military like

441
00:20:19,440 --> 00:20:22,880
Speaker 2: that ability to retire early is there for teachers who

442
00:20:23,000 --> 00:20:24,760
Speaker 2: I mean, granted, if you start right out of college

443
00:20:24,960 --> 00:20:27,680
Speaker 2: and you work for straight thirty years. Yeah, you're talking

444
00:20:27,720 --> 00:20:29,760
Speaker 2: about being able to retire in your early fifties, which

445
00:20:29,800 --> 00:20:32,760
Speaker 2: is killer, and having the option to work or not

446
00:20:33,080 --> 00:20:34,959
Speaker 2: at such a young age. That's clutch, right.

447
00:20:35,040 --> 00:20:37,560
Speaker 1: A lot of people would love to have that ability,

448
00:20:38,080 --> 00:20:41,879
Speaker 1: but they haven't necessarily dedicated themselves to this effort as

449
00:20:41,920 --> 00:20:45,000
Speaker 1: solidly as Aaron has. And Aaron, you're funding other retirement

450
00:20:45,040 --> 00:20:47,760
Speaker 1: accounts and you're not just banking on the pension covering

451
00:20:47,800 --> 00:20:49,760
Speaker 1: all of your living expenses in the future, which is

452
00:20:50,080 --> 00:20:54,320
Speaker 1: incredibly wise. We want all teachers to be proactive because,

453
00:20:54,359 --> 00:20:56,800
Speaker 1: you know, while having that pension, that's obviously an incredible perk,

454
00:20:56,800 --> 00:20:58,280
Speaker 1: and it's a perk that a whole lot of people

455
00:20:58,320 --> 00:21:00,920
Speaker 1: don't have access to. Not many people have pench anymore,

456
00:21:01,080 --> 00:21:03,040
Speaker 1: but it's unlikely to cover, like you said, all of

457
00:21:03,080 --> 00:21:07,399
Speaker 1: your expenses. So funneling your dollars into other workplace and

458
00:21:07,440 --> 00:21:11,080
Speaker 1: individual retirement accounts like you're doing, that's essential and that

459
00:21:11,160 --> 00:21:13,439
Speaker 1: is what's going to help you, in particular kind of

460
00:21:13,440 --> 00:21:16,560
Speaker 1: cover that specific period of time, those six six and

461
00:21:16,600 --> 00:21:19,840
Speaker 1: a half years of Hey, I'm done teaching school, but

462
00:21:20,520 --> 00:21:21,560
Speaker 1: I'm not really full.

463
00:21:21,359 --> 00:21:23,440
Speaker 2: Retirement age exactly. And it does sound like she's done

464
00:21:23,440 --> 00:21:26,240
Speaker 2: a pretty good job at doing just that. And specifically,

465
00:21:26,240 --> 00:21:29,440
Speaker 2: I love air that you've prioritized the roth IRA so much.

466
00:21:29,480 --> 00:21:32,600
Speaker 2: It's one of our favorite retirement accounts. It's definitely one

467
00:21:32,640 --> 00:21:35,439
Speaker 2: that you should keep putting money into, largely because of

468
00:21:35,440 --> 00:21:38,600
Speaker 2: the tax advantage status, but then also because of the

469
00:21:38,640 --> 00:21:41,719
Speaker 2: flexibility that it offers that you that you highlighted, you know,

470
00:21:41,760 --> 00:21:44,200
Speaker 2: trying to figure out where to draw from in order

471
00:21:44,359 --> 00:21:47,440
Speaker 2: to fund those handful of years. If you do decide

472
00:21:47,480 --> 00:21:48,959
Speaker 2: that you don't want to work at all, like that

473
00:21:48,960 --> 00:21:51,760
Speaker 2: can be a tough needle to thread. But having some

474
00:21:51,800 --> 00:21:53,840
Speaker 2: of that flexibility, like you said, having the ability to

475
00:21:53,880 --> 00:21:57,080
Speaker 2: draw down on principle or on the contributions that you've

476
00:21:57,080 --> 00:22:00,320
Speaker 2: made to your IRA, that's clutch. Specifically, it's one of

477
00:22:00,320 --> 00:22:02,080
Speaker 2: the coolest parts of a roth iray. Yeah, it's been

478
00:22:02,080 --> 00:22:04,160
Speaker 2: a minute since we've especial on that. If you haven't

479
00:22:04,200 --> 00:22:06,440
Speaker 2: touched on any money that you contribute to your roth IRA,

480
00:22:06,960 --> 00:22:09,639
Speaker 2: there is zero penalty for whatever reason you take that

481
00:22:09,720 --> 00:22:11,080
Speaker 2: money out. And sometimes folks are.

482
00:22:11,040 --> 00:22:12,920
Speaker 1: Less because it's a post tax account, right and you've

483
00:22:12,960 --> 00:22:15,159
Speaker 1: already paid tax on those dollars, and so when you're

484
00:22:15,200 --> 00:22:18,080
Speaker 1: socking money away into that, yes, you can leave that

485
00:22:18,119 --> 00:22:21,040
Speaker 1: money there for a long long time. But if you

486
00:22:21,080 --> 00:22:23,480
Speaker 1: want to, even before you reach retirement age, you can

487
00:22:23,480 --> 00:22:26,040
Speaker 1: pull out the contributions, not the money that's been earned

488
00:22:26,040 --> 00:22:28,199
Speaker 1: inside of that account, but the contributions are tax and

489
00:22:28,200 --> 00:22:31,880
Speaker 1: penalty free exactly, and not for qualified expenses. Sometimes folks

490
00:22:31,920 --> 00:22:35,400
Speaker 1: get confused with the first time home buyer or education expense.

491
00:22:35,640 --> 00:22:38,439
Speaker 1: No like literally for anything if it's a contribution, you

492
00:22:38,440 --> 00:22:39,960
Speaker 1: can take that money out. You pull it out because

493
00:22:39,960 --> 00:22:41,520
Speaker 1: you want to get your hair done, which is bad idea,

494
00:22:41,560 --> 00:22:44,240
Speaker 1: but like you can't if you wanted to, though, But

495
00:22:44,400 --> 00:22:47,000
Speaker 1: I mean that being said, in an ideal world, you

496
00:22:47,040 --> 00:22:50,159
Speaker 1: wouldn't tap those WROTH funds until you are actually in

497
00:22:50,200 --> 00:22:52,800
Speaker 1: retirement as of as you let those dollars continue to grow.

498
00:22:52,960 --> 00:22:55,760
Speaker 1: But if you continue to be diligent with your contributions

499
00:22:55,760 --> 00:22:57,960
Speaker 1: and you continue to fund your roth ira roth Ira,

500
00:22:58,080 --> 00:23:00,159
Speaker 1: I think it's it's more than it's a more than

501
00:23:00,160 --> 00:23:02,719
Speaker 1: reasonable place to withdraw funds from if you are interested

502
00:23:02,760 --> 00:23:05,000
Speaker 1: in retiring sooner than your peers.

503
00:23:05,520 --> 00:23:07,000
Speaker 2: If you put your peers or teachers, I guess they

504
00:23:07,040 --> 00:23:10,960
Speaker 2: might might maybe, but just what IRIS typically allows that fifty.

505
00:23:10,760 --> 00:23:12,680
Speaker 1: Nine and a half, maybe not because they might wake

506
00:23:12,760 --> 00:23:14,680
Speaker 1: up to the realization of like, oh, pension. I thought

507
00:23:14,680 --> 00:23:17,440
Speaker 1: I was going to retire too, but I haven't been enough.

508
00:23:17,440 --> 00:23:19,720
Speaker 1: But I haven't saved enough money to ensure that I can.

509
00:23:19,840 --> 00:23:22,200
Speaker 1: Whereas where as Aaron is, she's making sure that that's

510
00:23:22,240 --> 00:23:23,440
Speaker 1: going to be the case. And so yeah, I think

511
00:23:23,440 --> 00:23:25,800
Speaker 1: it's I think it makes sense to be able to

512
00:23:25,800 --> 00:23:28,720
Speaker 1: pull some of those contributions to cover that handful of

513
00:23:28,800 --> 00:23:31,280
Speaker 1: years so that she can quit her job when she

514
00:23:31,320 --> 00:23:34,479
Speaker 1: wants to. And by the way, the annual contribution limits

515
00:23:34,480 --> 00:23:37,040
Speaker 1: for ROTH goes up to seven thousand dollars next year.

516
00:23:37,160 --> 00:23:39,320
Speaker 1: That's the right now it's sixty five hundred, but next

517
00:23:39,359 --> 00:23:41,399
Speaker 1: year it's going to be seven grand. So let's just say,

518
00:23:41,480 --> 00:23:44,120
Speaker 1: Matt that she's got sixteen years left to fully fund

519
00:23:44,119 --> 00:23:46,520
Speaker 1: that WROTH before she retires. That's one hundred and twelve

520
00:23:46,560 --> 00:23:49,440
Speaker 1: thousand dollars in contributions that she'll be able to make,

521
00:23:49,480 --> 00:23:52,080
Speaker 1: and she can withdraw those between the ages of fifty

522
00:23:52,119 --> 00:23:54,480
Speaker 1: three and fifty nine and a half, between the time

523
00:23:54,520 --> 00:23:57,160
Speaker 1: where she's quitting work and between the time that she's

524
00:23:57,200 --> 00:24:00,240
Speaker 1: able to, you know, fully start tapping the funds. And

525
00:24:00,280 --> 00:24:02,600
Speaker 1: that's in addition to the other contributions you've already made,

526
00:24:02,720 --> 00:24:05,119
Speaker 1: which I'm not sure what, oh yeah, specific amount of

527
00:24:05,119 --> 00:24:06,920
Speaker 1: how much you have in your wroth is contributions. Let's

528
00:24:06,920 --> 00:24:08,920
Speaker 1: say it's already got money stockpiled in there forty grand.

529
00:24:08,920 --> 00:24:10,680
Speaker 1: That's about one hundred and fifty grand let's say in

530
00:24:11,240 --> 00:24:14,280
Speaker 1: contributions overall, that's a decent junk of change. That's a

531
00:24:14,280 --> 00:24:16,680
Speaker 1: lot of money. You still have lots of money left

532
00:24:16,720 --> 00:24:18,960
Speaker 1: over in the wroth in addition to that, hopefully as well,

533
00:24:19,040 --> 00:24:21,359
Speaker 1: right the gains that you aren't allowed to tap until

534
00:24:21,400 --> 00:24:23,040
Speaker 1: you do hit that fifty nine and a half mark.

535
00:24:23,359 --> 00:24:26,520
Speaker 1: So yeah, you would still have hopefully lots of money

536
00:24:26,520 --> 00:24:28,320
Speaker 1: in your wroth, but you're taking out some of the

537
00:24:28,359 --> 00:24:32,479
Speaker 1: money that you have pigeonholed essentially for that purpose. And

538
00:24:32,520 --> 00:24:34,480
Speaker 1: I think that I think that's a reasonable plan. I

539
00:24:34,480 --> 00:24:35,400
Speaker 1: think it makes a lot of sense.

540
00:24:35,520 --> 00:24:37,600
Speaker 2: I agree, man, Yeah, it's just I will say it's

541
00:24:37,600 --> 00:24:40,920
Speaker 2: important to note that while it's harder to access funds

542
00:24:40,960 --> 00:24:43,560
Speaker 2: for those years, and the roth contributions are a great

543
00:24:43,560 --> 00:24:45,840
Speaker 2: way of going about it, you're probably planning for a

544
00:24:45,960 --> 00:24:49,320
Speaker 2: much longer retirement beyond fifty nine and a half, right,

545
00:24:49,359 --> 00:24:52,200
Speaker 2: Like we're talking about funding cost of living for like

546
00:24:52,240 --> 00:24:55,840
Speaker 2: another thirty five forty years, And so take that into account,

547
00:24:55,920 --> 00:24:59,800
Speaker 2: because that could mean possibly funneling even more money into

548
00:24:59,800 --> 00:25:02,119
Speaker 2: you four fifty seven B for the time being, so

549
00:25:02,160 --> 00:25:04,919
Speaker 2: that you know you're building up more of a retirement

550
00:25:05,000 --> 00:25:08,600
Speaker 2: nest egg. Or it could actually mean working a little more,

551
00:25:08,720 --> 00:25:11,080
Speaker 2: maybe working part time during those six and a half

552
00:25:11,160 --> 00:25:14,879
Speaker 2: years between teacher retirement and real or I don't want

553
00:25:14,920 --> 00:25:17,840
Speaker 2: to say real retirement like IRS retirement age. To ensure

554
00:25:17,880 --> 00:25:21,080
Speaker 2: that you're tapping fewer of those rough contribution.

555
00:25:20,680 --> 00:25:24,000
Speaker 1: Dollars, not necessarily taking it from like the scale dial

556
00:25:24,080 --> 00:25:26,160
Speaker 1: all the way up to literally taking it down to zero,

557
00:25:26,280 --> 00:25:28,760
Speaker 1: like forty hours a week or whatever, plus to zero

558
00:25:28,800 --> 00:25:31,399
Speaker 1: hours a week, saying maybe I'll work ten, twelve, fifteen

559
00:25:31,440 --> 00:25:33,240
Speaker 1: hours a week in order to not have.

560
00:25:33,160 --> 00:25:36,399
Speaker 2: To pull those rock white as much. Yeah, not have

561
00:25:36,440 --> 00:25:38,040
Speaker 2: to pull as much money out well, because then a

562
00:25:38,280 --> 00:25:40,080
Speaker 2: you allow that money to can continue to grow. But

563
00:25:40,080 --> 00:25:41,760
Speaker 2: then obviously if you're working part time or if you've

564
00:25:41,760 --> 00:25:44,719
Speaker 2: got another job something that you're passionate about, it allows

565
00:25:44,760 --> 00:25:47,920
Speaker 2: you to Obviously it's money that you're able to live

566
00:25:47,960 --> 00:25:49,760
Speaker 2: off of, right, Like this is money that you're using

567
00:25:49,760 --> 00:25:52,080
Speaker 2: to pay the bills. But the double benefit of that

568
00:25:52,200 --> 00:25:54,199
Speaker 2: is by not having to tap your retirement dollars. If

569
00:25:54,240 --> 00:25:57,120
Speaker 2: the market happens to be down, well you're not gonna

570
00:25:57,160 --> 00:25:59,119
Speaker 2: It's a sequence of returns risk. Right, If the market

571
00:25:59,160 --> 00:26:01,040
Speaker 2: is down and you have you're like, oh, I don't

572
00:26:01,040 --> 00:26:03,680
Speaker 2: have any other way to supplement my pension that I'm

573
00:26:03,680 --> 00:26:06,600
Speaker 2: now receiving. I have to draw down. Compare that to

574
00:26:06,800 --> 00:26:08,439
Speaker 2: Let's say the market's at all time highs and you

575
00:26:08,440 --> 00:26:11,520
Speaker 2: start withdrawing that ness egg at all time highs is

576
00:26:11,560 --> 00:26:13,920
Speaker 2: going to last a lot longer than if the market's

577
00:26:14,040 --> 00:26:16,680
Speaker 2: in the red. Yeah, So that's another benefit of having

578
00:26:16,760 --> 00:26:20,840
Speaker 2: the options and the flexibility. But then also so we

579
00:26:20,880 --> 00:26:22,480
Speaker 2: could we kind of presented two options, right, like the

580
00:26:22,480 --> 00:26:26,320
Speaker 2: ability to either start investing and saving more now or

581
00:26:26,359 --> 00:26:28,359
Speaker 2: just working perhaps a little bit longer. I know, if

582
00:26:28,359 --> 00:26:30,440
Speaker 2: it was me, I wouldn't want to cut back to

583
00:26:30,480 --> 00:26:32,960
Speaker 2: the bone right now because there are other goals that

584
00:26:33,000 --> 00:26:35,240
Speaker 2: I have in my life in the here and now, right,

585
00:26:35,320 --> 00:26:37,960
Speaker 2: Like having kids makes it easy because you're like, all right,

586
00:26:38,240 --> 00:26:40,840
Speaker 2: I know, I've got eighteen years or less if your

587
00:26:40,880 --> 00:26:43,359
Speaker 2: kid's older before they're gone from the house, and so

588
00:26:43,400 --> 00:26:46,600
Speaker 2: that's a very limited window of time, right. But even

589
00:26:46,600 --> 00:26:48,320
Speaker 2: if you don't have kids, I'm sure you might have

590
00:26:48,320 --> 00:26:50,159
Speaker 2: some other like let's just say travel goals that you

591
00:26:50,200 --> 00:26:51,959
Speaker 2: might have. You might want to go travel with your friends,

592
00:26:52,359 --> 00:26:55,240
Speaker 2: and you might be thinking, Okay, am I going to

593
00:26:55,240 --> 00:26:57,040
Speaker 2: have the energy? Do I want to travel like that

594
00:26:57,080 --> 00:27:00,840
Speaker 2: when I'm fifty three, fifty four, fifty five in my sixties?

595
00:27:00,960 --> 00:27:03,040
Speaker 2: Is that something that I want to even do at

596
00:27:03,040 --> 00:27:03,680
Speaker 2: that point in time.

597
00:27:03,880 --> 00:27:06,840
Speaker 1: Yeah, And I think it's important to kind of I

598
00:27:06,880 --> 00:27:08,880
Speaker 1: love that Aaron has planned ahead and she's got this

599
00:27:09,000 --> 00:27:10,679
Speaker 1: idea of what she wants her life to look like,

600
00:27:10,880 --> 00:27:12,800
Speaker 1: but also hold those plans loosely, at least to a

601
00:27:12,800 --> 00:27:15,720
Speaker 1: certain extent, right, And so I would say, I would

602
00:27:15,720 --> 00:27:18,920
Speaker 1: say save in a way and invest in a way

603
00:27:18,960 --> 00:27:20,600
Speaker 1: that these plans, that you can pull these plans off,

604
00:27:20,640 --> 00:27:23,479
Speaker 1: that maybe you won't have to work at all between

605
00:27:23,480 --> 00:27:25,400
Speaker 1: those games fifty three and fifty nine. I think it's

606
00:27:25,400 --> 00:27:27,640
Speaker 1: a great goal to have, But also realize that as

607
00:27:27,640 --> 00:27:29,960
Speaker 1: you get closer to that, you might say, you know what,

608
00:27:30,280 --> 00:27:31,919
Speaker 1: I am tired of teaching, to have been teaching for

609
00:27:31,920 --> 00:27:33,879
Speaker 1: thirty years. But I would I still want to be

610
00:27:34,119 --> 00:27:36,199
Speaker 1: of use, and I would still actually have got this

611
00:27:36,240 --> 00:27:39,120
Speaker 1: other opportunity over here. Like my father in law, he's

612
00:27:39,160 --> 00:27:41,760
Speaker 1: still teaching. He's I think he's almost forty years into teaching,

613
00:27:41,760 --> 00:27:44,600
Speaker 1: which is incredible, and he spends even his summers like

614
00:27:44,800 --> 00:27:47,000
Speaker 1: working for the college Board. And so maybe when he

615
00:27:47,119 --> 00:27:49,840
Speaker 1: retires quote unquote, he'll still work for the college Board

616
00:27:50,200 --> 00:27:51,879
Speaker 1: part time or something like that. There's all sorts of

617
00:27:51,880 --> 00:27:55,280
Speaker 1: options after he's already retired, from the public, that's right,

618
00:27:55,359 --> 00:27:57,879
Speaker 1: from public to private. Then that, yeah, there are just

619
00:27:57,920 --> 00:28:00,359
Speaker 1: so many avenues and paths that you can take. And

620
00:28:00,359 --> 00:28:02,119
Speaker 1: I mean I've seen this with my folks, my dad

621
00:28:02,200 --> 00:28:05,120
Speaker 1: and then also my in laws. They're both like twenty

622
00:28:05,200 --> 00:28:07,720
Speaker 1: years into retirement and they worked during that period of

623
00:28:07,720 --> 00:28:10,520
Speaker 1: time and there wasn't for the pay. It was partly

624
00:28:10,560 --> 00:28:13,320
Speaker 1: because they had a desire to go to work for

625
00:28:13,320 --> 00:28:15,800
Speaker 1: some of these organizations that could not pay quite as much,

626
00:28:15,800 --> 00:28:18,120
Speaker 1: but it was work that they enjoyed, that they found meaningful.

627
00:28:18,280 --> 00:28:21,959
Speaker 1: And there's a lot of inherent value in what it

628
00:28:22,000 --> 00:28:24,480
Speaker 1: is that you're able to provide. And what you're pursuing

629
00:28:24,680 --> 00:28:27,520
Speaker 1: is optionality, and this is exactly what what Aaron's going

630
00:28:27,560 --> 00:28:30,399
Speaker 1: to have by putting essentially as many dollars as you

631
00:28:30,440 --> 00:28:32,919
Speaker 1: can in that roth Ira, knowing that that gives her

632
00:28:32,960 --> 00:28:35,560
Speaker 1: the most optionality because of the way those contributions can

633
00:28:35,560 --> 00:28:38,440
Speaker 1: be treated. So Aaron, you're taking the right approach and

634
00:28:38,520 --> 00:28:41,000
Speaker 1: just kind of mentally, I would say, hold it loosely

635
00:28:41,040 --> 00:28:42,719
Speaker 1: too as to exactly what your life's going to look

636
00:28:42,760 --> 00:28:44,720
Speaker 1: like in those years those are that's a decade and

637
00:28:44,760 --> 00:28:46,480
Speaker 1: a half plus down the road, but you're on the

638
00:28:46,520 --> 00:28:48,440
Speaker 1: right path here, and we encourage you to kind of

639
00:28:48,520 --> 00:28:50,880
Speaker 1: keep making these right decisions and keep going in this direction,

640
00:28:51,200 --> 00:28:54,120
Speaker 1: and then we're excited to see what that actually looks

641
00:28:54,120 --> 00:28:54,959
Speaker 1: like for you in reality.

642
00:28:55,080 --> 00:28:55,280
Speaker 2: Yeah.

643
00:28:55,320 --> 00:28:56,880
Speaker 1: I love that she's got a plan and she is

644
00:28:57,160 --> 00:28:59,479
Speaker 1: she is guiding and steering her own shifts right as

645
00:28:59,480 --> 00:29:02,880
Speaker 1: opposed to seeing just where the wind ends up taking her.

646
00:29:02,880 --> 00:29:04,920
Speaker 1: And like we said, a lot of her fellow teachers

647
00:29:05,000 --> 00:29:07,360
Speaker 1: might think, oh, pension, this is great, I'll retire after

648
00:29:07,400 --> 00:29:09,520
Speaker 1: thirty years, and they might realize that they have to

649
00:29:09,600 --> 00:29:12,600
Speaker 1: keep teaching because they didn't they financially prepare in the

650
00:29:12,640 --> 00:29:14,520
Speaker 1: other ways that they needed to also, that's right.

651
00:29:14,760 --> 00:29:17,520
Speaker 2: Yeah, great. Let's hear from our next listener, and he's

652
00:29:17,520 --> 00:29:20,680
Speaker 2: considering taking some financial advice from a friend or is

653
00:29:20,760 --> 00:29:23,480
Speaker 2: he a friend? Hey, Matt Joel.

654
00:29:23,560 --> 00:29:26,640
Speaker 5: My name is Nathan and I live in Huntington Beach, California,

655
00:29:27,040 --> 00:29:30,160
Speaker 5: and I have a buddy who recently became a financial advisor,

656
00:29:30,440 --> 00:29:33,040
Speaker 5: and he's trying to sell me on this permanence life

657
00:29:33,040 --> 00:29:35,720
Speaker 5: insurance and he's really trying to make it sound like

658
00:29:35,760 --> 00:29:38,360
Speaker 5: it's the best thing since an HSA and craft beer.

659
00:29:38,720 --> 00:29:41,520
Speaker 5: He says it comes with cool stuff like tax deferred,

660
00:29:41,680 --> 00:29:45,080
Speaker 5: high yield savings, and I'm able to take out low

661
00:29:45,200 --> 00:29:48,760
Speaker 5: rates personal loans if I take out a loan against

662
00:29:48,880 --> 00:29:52,440
Speaker 5: my permanent life insurance. I just don't know too much

663
00:29:52,480 --> 00:29:54,360
Speaker 5: about it. I wanted to see if you guys could

664
00:29:54,400 --> 00:29:56,880
Speaker 5: put your input. I'm only twenty four years old and

665
00:29:56,920 --> 00:29:59,880
Speaker 5: I have no dependence. Also, if you're ever in or

666
00:30:00,000 --> 00:30:02,280
Speaker 5: Orange County, there's some great brewisi you guys should check out.

667
00:30:02,480 --> 00:30:04,720
Speaker 2: Thanks. You guys love the show man.

668
00:30:04,840 --> 00:30:08,000
Speaker 1: Nathan your buddy. He might be cool, but he's way

669
00:30:08,000 --> 00:30:10,840
Speaker 1: off of this, and largely because there's nothing better than

670
00:30:10,880 --> 00:30:12,880
Speaker 1: Ahsa's and craft Bear that's come along that I know,

671
00:30:13,240 --> 00:30:15,800
Speaker 1: but those are two mile time favorite things.

672
00:30:15,840 --> 00:30:16,000
Speaker 5: YEP.

673
00:30:16,120 --> 00:30:17,080
Speaker 2: Can't argue with that.

674
00:30:17,280 --> 00:30:19,479
Speaker 1: Yeah, and we're so glad that you reached out, because

675
00:30:19,840 --> 00:30:22,640
Speaker 1: so many folks in the same situation, they would kind

676
00:30:22,680 --> 00:30:24,080
Speaker 1: of trust their friend on this one.

677
00:30:24,120 --> 00:30:25,240
Speaker 2: They would buy the policy.

678
00:30:25,240 --> 00:30:28,880
Speaker 1: They would tell themselves, well, they are a financial advisor, right,

679
00:30:28,960 --> 00:30:31,640
Speaker 1: so so this friend must know a whole lot more

680
00:30:31,640 --> 00:30:34,080
Speaker 1: than me, and because of that trust, they'll end up

681
00:30:34,120 --> 00:30:37,040
Speaker 1: pulling the trigger. And this isn't the same thing as

682
00:30:37,160 --> 00:30:40,160
Speaker 1: affinity fraud. But what there's this concept or this reality

683
00:30:40,160 --> 00:30:42,320
Speaker 1: of affinity fraud that happens where it's like, oh, you

684
00:30:42,360 --> 00:30:44,960
Speaker 1: know this person, they go to your church or synagogue

685
00:30:45,200 --> 00:30:47,000
Speaker 1: or they you know, you run in the same circle

686
00:30:47,040 --> 00:30:49,360
Speaker 1: as the same community. This is how Bernie madeoff made

687
00:30:49,360 --> 00:30:51,920
Speaker 1: so much money. People are like, I know Bernie, he's

688
00:30:52,040 --> 00:30:54,440
Speaker 1: the he's what a great guy, and he's he's in

689
00:30:54,440 --> 00:30:56,840
Speaker 1: this civic organization in that one and so they gave

690
00:30:56,920 --> 00:30:59,080
Speaker 1: him money to invest and it was this kind of

691
00:30:59,400 --> 00:31:03,160
Speaker 1: belief that because they knew him, he wasn't going to

692
00:31:03,240 --> 00:31:05,720
Speaker 1: do anything treacherous, and yet he ended up doing more

693
00:31:05,760 --> 00:31:07,480
Speaker 1: treachery than almost anyone in human history.

694
00:31:07,560 --> 00:31:10,280
Speaker 2: Well, I will say, so it's not that this is

695
00:31:10,440 --> 00:31:13,200
Speaker 2: so the affinity part is true, but but not the

696
00:31:13,200 --> 00:31:15,560
Speaker 2: fraud part exactly exactly, because it's not like that's where

697
00:31:15,600 --> 00:31:15,960
Speaker 2: I was going.

698
00:31:15,960 --> 00:31:18,000
Speaker 1: It's like, yes, so I'm saying it's kind of like

699
00:31:18,040 --> 00:31:20,200
Speaker 1: that because there's this there's this belief that the affinity

700
00:31:20,240 --> 00:31:22,840
Speaker 1: parts there, your friend is not trying to fraud you. Yeah,

701
00:31:22,840 --> 00:31:24,880
Speaker 1: he's not trying to not as total scam. Yes he's

702
00:31:24,920 --> 00:31:27,960
Speaker 1: not trying to scam me. But but basically there are

703
00:31:28,000 --> 00:31:30,560
Speaker 1: a slew of reasons why these policies aren't as great

704
00:31:30,560 --> 00:31:32,840
Speaker 1: as he's making them out to be. And just because

705
00:31:32,880 --> 00:31:35,320
Speaker 1: he's your friend doesn't mean you should listen to him

706
00:31:35,320 --> 00:31:37,600
Speaker 1: and buy in, hook line and sinker. This is almost

707
00:31:37,640 --> 00:31:40,960
Speaker 1: on a really bad idea for you, specifically at this

708
00:31:41,000 --> 00:31:41,560
Speaker 1: stage of life.

709
00:31:41,640 --> 00:31:44,840
Speaker 2: Nathan. Yeah. Yeah, there is actual insurance that's being provided.

710
00:31:44,880 --> 00:31:47,440
Speaker 2: It's an investment financial product, but it's just not the

711
00:31:47,480 --> 00:31:50,400
Speaker 2: most efficient, high performing way of achieving that. Like it

712
00:31:50,440 --> 00:31:53,800
Speaker 2: makes me think about like a timeshare. Do you actually

713
00:31:53,800 --> 00:31:56,600
Speaker 2: get to go to the beach when you buy a timeshare? Share? Absolutely?

714
00:31:56,680 --> 00:31:58,760
Speaker 2: Do you have a place to sleep? Are you on vacation?

715
00:31:58,960 --> 00:31:59,120
Speaker 3: Oh?

716
00:31:59,200 --> 00:32:03,360
Speaker 2: Yeah? But is it easier to hop onto Airbnb and

717
00:32:03,560 --> 00:32:06,200
Speaker 2: find a deal or go to verbo? Oh my gosh. Yes,

718
00:32:06,240 --> 00:32:08,200
Speaker 2: that's a much much better way of going about it.

719
00:32:08,400 --> 00:32:09,040
Speaker 2: And that's kind of.

720
00:32:08,960 --> 00:32:10,760
Speaker 1: How you're not signing your you know, life away in

721
00:32:10,800 --> 00:32:13,520
Speaker 1: a twenty year contract. Yes, yes, it's very similar in

722
00:32:13,560 --> 00:32:14,080
Speaker 1: that way.

723
00:32:14,240 --> 00:32:16,840
Speaker 2: And some of the different perks that are being provided

724
00:32:16,880 --> 00:32:20,640
Speaker 2: by a permanent life insurance policy they certainly sound nice,

725
00:32:21,120 --> 00:32:22,960
Speaker 2: but I'm guessing you probably didn't tell you how much

726
00:32:23,040 --> 00:32:24,440
Speaker 2: the policy actually costs.

727
00:32:24,480 --> 00:32:26,520
Speaker 1: Like if I was going to the Chevy dealership and

728
00:32:26,520 --> 00:32:28,080
Speaker 1: they're telling me how great this new Corvette is and

729
00:32:28,080 --> 00:32:29,480
Speaker 1: I'm like, oh yeah, horse power.

730
00:32:29,280 --> 00:32:31,360
Speaker 2: Oh that sounds nice. Yeah, I can see it. Zerre

731
00:32:31,480 --> 00:32:32,560
Speaker 2: to sixty and how long.

732
00:32:32,800 --> 00:32:35,040
Speaker 1: And they're gonna tell me all those great things, and

733
00:32:35,080 --> 00:32:37,040
Speaker 1: then finally they're gonna tell me the price tag and

734
00:32:37,200 --> 00:32:38,600
Speaker 1: be like, yeah, I'm just gonna walk away.

735
00:32:38,680 --> 00:32:43,600
Speaker 2: Yeah, exactly. They are incredibly expensive, these policies. They can

736
00:32:43,600 --> 00:32:47,000
Speaker 2: cost you something like twenty times in premiums compared to

737
00:32:47,000 --> 00:32:50,160
Speaker 2: what a term policy with the exact same coverage what

738
00:32:50,280 --> 00:32:52,520
Speaker 2: that would run you. So instead of a you know,

739
00:32:52,760 --> 00:32:54,680
Speaker 2: like a couple hundred bucks in premiums every single year

740
00:32:54,720 --> 00:32:57,240
Speaker 2: for insurance, you're talking about dishing out thousands of dollars

741
00:32:57,680 --> 00:33:01,240
Speaker 2: for that policy instead. So you be far better off

742
00:33:01,520 --> 00:33:04,600
Speaker 2: not getting this policy and instead shoving that money into

743
00:33:05,000 --> 00:33:07,800
Speaker 2: pax advantaged accounts instead, just like we talked about with

744
00:33:07,840 --> 00:33:09,440
Speaker 2: the wroth IRA on our last question.

745
00:33:09,520 --> 00:33:11,600
Speaker 1: Yeah, if you're talking about maxing out your roth Ira

746
00:33:12,280 --> 00:33:14,200
Speaker 1: versus not being able to max it out and getting

747
00:33:14,200 --> 00:33:16,600
Speaker 1: this permanent life insurance policy, there's a clear winner, Like

748
00:33:16,640 --> 00:33:18,640
Speaker 1: it's not even close, and it's maxing out the WRATH

749
00:33:18,960 --> 00:33:21,400
Speaker 1: And so we'd much rather see you putting more money

750
00:33:21,520 --> 00:33:24,880
Speaker 1: into that retirement account into your workplace retirement account, make

751
00:33:24,920 --> 00:33:27,360
Speaker 1: sure you're getting the full match or even more, rather

752
00:33:27,400 --> 00:33:30,440
Speaker 1: than putting those crucial dollars into a really really expensive

753
00:33:30,440 --> 00:33:32,760
Speaker 1: life insurance policy. And it's and it's truly what it

754
00:33:32,760 --> 00:33:34,280
Speaker 1: comes down to, it's one that you don't even need.

755
00:33:34,480 --> 00:33:36,440
Speaker 1: And what I mean by that, yeah, right, is what

756
00:33:36,960 --> 00:33:39,280
Speaker 1: makes us pitch even more difficult stomach. And again it's

757
00:33:39,320 --> 00:33:42,720
Speaker 1: not fraud, it's just selling the wrong product to the

758
00:33:42,760 --> 00:33:45,880
Speaker 1: wrong person. It's that you're incredibly young, you don't have

759
00:33:45,920 --> 00:33:49,320
Speaker 1: any dependence, You likely don't even need a super cheap,

760
00:33:49,480 --> 00:33:51,520
Speaker 1: cheap term life policy yet, right, like, no one needs

761
00:33:51,520 --> 00:33:53,840
Speaker 1: a recommend point because there's nobody that is who is

762
00:33:53,880 --> 00:33:56,280
Speaker 1: counting on your income or you to die right when

763
00:33:56,280 --> 00:33:59,960
Speaker 1: your status changes, maybe the older you get, you get married,

764
00:34:00,280 --> 00:34:02,960
Speaker 1: you have kids, something like that, eventually you might have

765
00:34:03,000 --> 00:34:05,360
Speaker 1: the need for something like a term life policy. Will

766
00:34:05,400 --> 00:34:07,760
Speaker 1: you ever have the need for a permanent life policy?

767
00:34:08,040 --> 00:34:08,560
Speaker 2: Unlikely?

768
00:34:08,840 --> 00:34:11,520
Speaker 1: Possibly, but it definitely definitely is the case that you

769
00:34:11,560 --> 00:34:14,200
Speaker 1: don't need one now. And so I guess what we

770
00:34:14,239 --> 00:34:16,040
Speaker 1: would say is even the two hundred bucks that you

771
00:34:16,200 --> 00:34:19,000
Speaker 1: might spend on a term life policy, even that would

772
00:34:19,000 --> 00:34:22,000
Speaker 1: be kind of wasted essentially until the need arises totally.

773
00:34:22,080 --> 00:34:24,799
Speaker 2: Yeah, could not agree more. And so the question is,

774
00:34:25,719 --> 00:34:29,200
Speaker 2: why is your friend selling you on this policy so hard?

775
00:34:29,239 --> 00:34:31,680
Speaker 2: And you even said that word, right, So I think

776
00:34:31,760 --> 00:34:33,480
Speaker 2: deep down you kind of know he's like, Oh, he's

777
00:34:34,000 --> 00:34:36,680
Speaker 2: trying to sell me this policy. We don't want to

778
00:34:36,680 --> 00:34:39,759
Speaker 2: throw shade, but it's probably because he stands to make

779
00:34:39,800 --> 00:34:43,239
Speaker 2: a pretty sweet commission by selling you this policy. And

780
00:34:44,160 --> 00:34:47,440
Speaker 2: maybe he's somewhat tricked his own mind into believing that

781
00:34:47,520 --> 00:34:49,719
Speaker 2: everyone and their mom out there needs one of these

782
00:34:49,719 --> 00:34:52,839
Speaker 2: life insurance policies, even if the reality is that these

783
00:34:52,840 --> 00:34:54,960
Speaker 2: aren't all that great for the majority of folks. Like

784
00:34:55,040 --> 00:34:58,080
Speaker 2: it makes me the Upton Sinclair quote that comes to mind,

785
00:34:58,520 --> 00:35:01,440
Speaker 2: you know, as far as was it, Oh, it's hard

786
00:35:01,440 --> 00:35:03,960
Speaker 2: to get a man understand something when his salary depends

787
00:35:04,000 --> 00:35:06,440
Speaker 2: on his not understanding it. Yeah, I feel like that

788
00:35:06,560 --> 00:35:08,839
Speaker 2: might be the boat that he's in. So it's gonna

789
00:35:08,840 --> 00:35:10,680
Speaker 2: be hard to convince him, because hard to convinced himself.

790
00:35:10,719 --> 00:35:13,239
Speaker 2: And he may not even fully know because to be

791
00:35:14,000 --> 00:35:16,359
Speaker 2: did he say financial advisor or a financial.

792
00:35:16,080 --> 00:35:18,120
Speaker 1: He's aid financial advisor, but he could Yeah, maybe it's

793
00:35:18,120 --> 00:35:19,520
Speaker 1: an he's just an insurance salesman.

794
00:35:19,600 --> 00:35:21,560
Speaker 2: Yes, I mean there's not. It's not like he's a

795
00:35:21,920 --> 00:35:24,160
Speaker 2: surgeon or a doctor where he's taken some oath. He's

796
00:35:24,200 --> 00:35:27,799
Speaker 2: not necessarily a fiduciary, and so he might be thinking, oh,

797
00:35:27,880 --> 00:35:29,839
Speaker 2: this is something that people out there by and it

798
00:35:29,880 --> 00:35:31,920
Speaker 2: definitely is, but it just may not be what's best

799
00:35:31,920 --> 00:35:33,040
Speaker 2: for you. Yeah, exactly.

800
00:35:33,239 --> 00:35:35,640
Speaker 1: So for now, as a twenty four year old with

801
00:35:35,680 --> 00:35:37,640
Speaker 1: no dependence, we would say focus on the basics. Get

802
00:35:37,640 --> 00:35:39,640
Speaker 1: the match in the workplace, retirement acount, max how you're

803
00:35:39,680 --> 00:35:41,400
Speaker 1: roth IRA if you can. If you have access to

804
00:35:41,760 --> 00:35:44,399
Speaker 1: an HSA, which you alluded to in your question, try

805
00:35:44,400 --> 00:35:47,560
Speaker 1: to get some money into that account too. Invest some

806
00:35:47,600 --> 00:35:50,480
Speaker 1: of those dollars for your future right, learn more about

807
00:35:50,520 --> 00:35:54,440
Speaker 1: the HSA and maximize your ability to crush it with

808
00:35:54,440 --> 00:35:58,000
Speaker 1: that account. Just don't get a ridiculously expensive insurance policy

809
00:35:58,000 --> 00:36:00,520
Speaker 1: that you don't need just for the secondaryry perks that

810
00:36:00,560 --> 00:36:03,080
Speaker 1: it offers, and you can always get a much cheaper

811
00:36:03,120 --> 00:36:06,040
Speaker 1: term life policy in the future. Win Again, things in

812
00:36:06,080 --> 00:36:08,480
Speaker 1: your life change, but and you don't have to be

813
00:36:08,800 --> 00:36:09,399
Speaker 1: rude or mean.

814
00:36:09,280 --> 00:36:10,200
Speaker 2: To your friend too. Again.

815
00:36:10,239 --> 00:36:12,960
Speaker 1: I said that about affinity fraud and Bernie Manoff, I

816
00:36:13,040 --> 00:36:16,400
Speaker 1: really was not trying to loop your friend in and

817
00:36:16,440 --> 00:36:18,200
Speaker 1: say that he's on a similar plane.

818
00:36:18,239 --> 00:36:18,520
Speaker 2: He's not.

819
00:36:18,600 --> 00:36:20,480
Speaker 1: I don't believe that in any way, form or fashion.

820
00:36:20,680 --> 00:36:22,640
Speaker 1: But the truth is, the closer we are to people,

821
00:36:22,640 --> 00:36:23,800
Speaker 1: the more likely we are to believe that.

822
00:36:23,840 --> 00:36:24,040
Speaker 2: Matt.

823
00:36:24,040 --> 00:36:25,839
Speaker 1: If you told me that I should take a new

824
00:36:25,840 --> 00:36:28,360
Speaker 1: way home because it's a lot faster, I would believe you.

825
00:36:28,400 --> 00:36:29,960
Speaker 1: I wouldn't even look it up on Google Maps, just

826
00:36:29,960 --> 00:36:32,000
Speaker 1: because I trust you, right, Yeah, And that is a

827
00:36:32,120 --> 00:36:35,480
Speaker 1: natural response. And so, but something like this, when it's

828
00:36:35,520 --> 00:36:38,480
Speaker 1: this expensive, we're talking about this much money, and you

829
00:36:38,480 --> 00:36:40,439
Speaker 1: know your friend has a dog in the fight because

830
00:36:40,480 --> 00:36:43,000
Speaker 1: he stands to benefit financially from selling you this product.

831
00:36:43,280 --> 00:36:45,919
Speaker 1: It's not necessarily that he's trying to screw you over,

832
00:36:46,160 --> 00:36:48,960
Speaker 1: but maybe he believes that something is great when in

833
00:36:49,000 --> 00:36:52,200
Speaker 1: our opinion, it's subpar, especially given the situation that you're in.

834
00:36:52,360 --> 00:36:54,520
Speaker 2: Exactly, all right, we've got more to get to. We're

835
00:36:54,520 --> 00:36:57,880
Speaker 2: actually going to take a couple listener money Wins. There

836
00:36:57,920 --> 00:37:00,560
Speaker 2: are some listeners ever in the how to Money Facebook group.

837
00:37:00,560 --> 00:37:02,200
Speaker 2: They are crushing it when it comes to their money.

838
00:37:02,239 --> 00:37:05,359
Speaker 2: We're Gonna win. In particular, has started paying for what

839
00:37:05,440 --> 00:37:09,120
Speaker 2: she previously considered to be a splurge and completely unnecessary.

840
00:37:09,120 --> 00:37:11,200
Speaker 2: We'll get to that and more right after this.

841
00:37:19,400 --> 00:37:20,960
Speaker 1: All right, Matt, we're back, and you know we got

842
00:37:21,000 --> 00:37:24,000
Speaker 1: to get to I think a few Facebook listener money wins.

843
00:37:24,000 --> 00:37:26,480
Speaker 1: There have been some great great shares in there recently.

844
00:37:26,480 --> 00:37:27,799
Speaker 1: And by the way, if you're listening and you're not

845
00:37:27,840 --> 00:37:29,680
Speaker 1: a member of the how to Money Facebook group, you

846
00:37:29,680 --> 00:37:31,520
Speaker 1: should go over there. You should sign up. You should

847
00:37:31,560 --> 00:37:33,640
Speaker 1: join largely because if you've got a question, it's a

848
00:37:33,680 --> 00:37:36,120
Speaker 1: great place to ask it. If you're just looking for

849
00:37:36,200 --> 00:37:39,000
Speaker 1: insight and wisdom, it's a great place to turn. And

850
00:37:39,200 --> 00:37:42,080
Speaker 1: it's the actually literally the only thing I used Facebook

851
00:37:42,120 --> 00:37:45,040
Speaker 1: for that in Facebook Marketplace, and other than that, I

852
00:37:45,080 --> 00:37:47,520
Speaker 1: avoid Facebook all together. But except for keeping up with

853
00:37:47,520 --> 00:37:50,359
Speaker 1: your ex girlfriends from high school, duh, doesn't everyone do that?

854
00:37:50,760 --> 00:37:50,800
Speaker 3: No?

855
00:37:50,920 --> 00:37:52,399
Speaker 2: I don't. Let's be honest. Joll never didn't have any

856
00:37:52,520 --> 00:37:54,399
Speaker 2: x RO Matt.

857
00:37:54,440 --> 00:37:56,359
Speaker 1: Girls wouldn't date me back then. I got I had

858
00:37:56,360 --> 00:37:58,160
Speaker 1: a couple. I found one that would date me, and

859
00:37:58,880 --> 00:38:02,800
Speaker 1: I stuck to her. But Pam posted in our Facebook

860
00:38:02,800 --> 00:38:04,759
Speaker 1: group this week and she said, we've been trying to

861
00:38:04,800 --> 00:38:07,120
Speaker 1: cut our grocery bill and we have successfully cut out

862
00:38:07,160 --> 00:38:09,759
Speaker 1: about four hundred dollars a month nice, which is a

863
00:38:09,800 --> 00:38:12,400
Speaker 1: lot of money. By doing the following should using the

864
00:38:12,440 --> 00:38:15,440
Speaker 1: free Walmart pickup. This has helped curb any impulse purchases

865
00:38:15,440 --> 00:38:18,239
Speaker 1: by not entering the store using the app upside the

866
00:38:18,280 --> 00:38:21,000
Speaker 1: local grocery chain. She said, I use has up to

867
00:38:21,040 --> 00:38:23,680
Speaker 1: eight percent cash back on the app. When I see

868
00:38:23,680 --> 00:38:26,840
Speaker 1: a higher percentage, that's the day I shop. Using my

869
00:38:26,920 --> 00:38:29,439
Speaker 1: Costco membership to buy more items than bulks, she said,

870
00:38:29,440 --> 00:38:31,440
Speaker 1: I've stopped being stuck in my ways, so I started

871
00:38:31,440 --> 00:38:34,680
Speaker 1: buying off brand items too, and then pre making some

872
00:38:34,719 --> 00:38:38,120
Speaker 1: breakfast food like that kind of stuff. So I'm trying

873
00:38:38,120 --> 00:38:39,880
Speaker 1: to figure out even more ways to save. But I

874
00:38:39,880 --> 00:38:42,040
Speaker 1: feel like this has been a good start. So Matt,

875
00:38:42,360 --> 00:38:44,080
Speaker 1: there's a few things I think we could talk about

876
00:38:44,080 --> 00:38:47,640
Speaker 1: on this one. Congrats to Pam saving four hundred bucks

877
00:38:47,640 --> 00:38:49,680
Speaker 1: a month. That's insane, like that is a lot of

878
00:38:49,680 --> 00:38:50,200
Speaker 1: money to cut.

879
00:38:50,200 --> 00:38:50,799
Speaker 2: It's a big junk.

880
00:38:50,840 --> 00:38:53,439
Speaker 1: And especially I think for a lot of people right now,

881
00:38:53,560 --> 00:38:56,480
Speaker 1: they've seen the reality of inflation at the grocery store

882
00:38:56,560 --> 00:38:58,359
Speaker 1: and maybe they bought the narrative that there's nothing they

883
00:38:58,360 --> 00:38:59,960
Speaker 1: can do about it. And I think Pam is living proof

884
00:39:00,040 --> 00:39:02,320
Speaker 1: that there are things you can do to push back

885
00:39:02,400 --> 00:39:04,680
Speaker 1: on the reality of higher prices. I'm not saying that

886
00:39:04,760 --> 00:39:06,759
Speaker 1: it's not true the prices aren't more expensive at the

887
00:39:06,760 --> 00:39:08,600
Speaker 1: grocery store. They are, but I think there's there are

888
00:39:08,600 --> 00:39:10,719
Speaker 1: also things that we can do to fight back. And

889
00:39:10,760 --> 00:39:12,719
Speaker 1: absolutely let's go through a couple of these. One of

890
00:39:12,719 --> 00:39:14,760
Speaker 1: the things she said was using pickup.

891
00:39:14,880 --> 00:39:17,360
Speaker 2: Yeah, what do you think about the Uh, Well, specifically

892
00:39:17,400 --> 00:39:19,600
Speaker 2: with Walmart is the fact that it's free, but I

893
00:39:19,640 --> 00:39:21,680
Speaker 2: think it's free at Kroger as well.

894
00:39:21,719 --> 00:39:23,319
Speaker 1: I think is it I think I think we pick

895
00:39:23,400 --> 00:39:24,920
Speaker 1: up specifically.

896
00:39:24,400 --> 00:39:27,080
Speaker 2: Is Kroger, and I know at all the costs, there's

897
00:39:27,080 --> 00:39:29,399
Speaker 2: a very small fee associated with it, just a couple

898
00:39:29,440 --> 00:39:29,719
Speaker 2: of bucks.

899
00:39:29,880 --> 00:39:32,520
Speaker 1: So I think the coolest thing about pickup. I think

900
00:39:32,520 --> 00:39:35,799
Speaker 1: pickup is this is this beautiful happy medium versus going

901
00:39:35,840 --> 00:39:38,560
Speaker 1: in the store, which takes a lot of time, versus delivery,

902
00:39:38,560 --> 00:39:41,240
Speaker 1: which costs a lot of extra money. Right, so sometimes

903
00:39:41,280 --> 00:39:44,040
Speaker 1: there's like delivery fee and tip fee. But then on

904
00:39:44,080 --> 00:39:46,480
Speaker 1: top of that, every item that you buy might cost

905
00:39:46,520 --> 00:39:48,560
Speaker 1: more money and probably usually does cost more money too.

906
00:39:48,600 --> 00:39:50,640
Speaker 1: Let's say you're buying for doing instacart on a side

907
00:39:50,680 --> 00:39:53,560
Speaker 1: like Instagram, Yeah, and so's.

908
00:39:52,680 --> 00:39:54,839
Speaker 2: A huge downside. Well, and then the pickup is great

909
00:39:54,880 --> 00:39:56,839
Speaker 2: because they bring it out to your car, but you're

910
00:39:56,840 --> 00:39:59,200
Speaker 2: also the online shopping part though, if like the having

911
00:39:59,239 --> 00:40:01,880
Speaker 2: to make I've seen folks on their phones and I'm like,

912
00:40:02,239 --> 00:40:04,080
Speaker 2: for all the time that you just spent on your phone,

913
00:40:04,160 --> 00:40:06,000
Speaker 2: not talking to the people around you, as you've been

914
00:40:06,000 --> 00:40:07,960
Speaker 2: responding to somebody who's shopping for you because they can't

915
00:40:07,960 --> 00:40:10,160
Speaker 2: find the item and they're asking for replacements. Yeah, you

916
00:40:10,280 --> 00:40:13,520
Speaker 2: should have just gone yeah and saved all the money.

917
00:40:13,520 --> 00:40:15,400
Speaker 2: And it may maybe you would have taken to.

918
00:40:15,360 --> 00:40:17,520
Speaker 1: Just I'm a weirdo and I like grocery shopping, so

919
00:40:18,040 --> 00:40:21,040
Speaker 1: I usually do the grocery shopping in our house anyway

920
00:40:21,040 --> 00:40:23,439
Speaker 1: because I enjoy it. But for most people who don't

921
00:40:23,560 --> 00:40:25,399
Speaker 1: or feel like they don't have the time, I think

922
00:40:25,640 --> 00:40:28,080
Speaker 1: ordering online and then picking it up makes a whole

923
00:40:28,080 --> 00:40:30,840
Speaker 1: lot of sense because the other thing that Pam mentioned

924
00:40:31,080 --> 00:40:34,839
Speaker 1: was those impulse purchases. They are they get you right,

925
00:40:34,840 --> 00:40:36,719
Speaker 1: they get you at the grocery store, and that is

926
00:40:36,840 --> 00:40:40,000
Speaker 1: one massive benefit of doing the pickup is you're not

927
00:40:40,200 --> 00:40:42,040
Speaker 1: tempted to get the stuff on the endcap that costs a.

928
00:40:42,000 --> 00:40:43,520
Speaker 2: Lot of money. I think it comes down to knowing

929
00:40:43,560 --> 00:40:46,359
Speaker 2: yourself right, and if you know that you're gonna be tempted, uh,

930
00:40:46,760 --> 00:40:49,480
Speaker 2: then maybe that's a situation you should completely avoid. I

931
00:40:49,520 --> 00:40:51,520
Speaker 2: personally don't do a whole lot of our grocery shopping.

932
00:40:51,760 --> 00:40:54,200
Speaker 2: But because of that, I don't think I've developed that muscle,

933
00:40:54,239 --> 00:40:56,439
Speaker 2: and so anytime I do go to the grocery store, dude,

934
00:40:56,440 --> 00:40:58,160
Speaker 2: I always come home with stuff. And Kate's like, what

935
00:40:58,280 --> 00:41:00,840
Speaker 2: is this because she like she has it down to

936
00:41:00,840 --> 00:41:03,360
Speaker 2: a science, and so like the time saving part of

937
00:41:03,400 --> 00:41:05,960
Speaker 2: it doesn't really apply because literally she can get in

938
00:41:06,000 --> 00:41:08,759
Speaker 2: and out of all the faster than anyone I know. Like,

939
00:41:08,800 --> 00:41:10,560
Speaker 2: she knows her items, she knows exactly what it is

940
00:41:10,600 --> 00:41:12,239
Speaker 2: that we need, so there's not a whole lot. She's

941
00:41:12,239 --> 00:41:15,879
Speaker 2: also on rollerblades. That would be awesome if she did

942
00:41:15,880 --> 00:41:17,600
Speaker 2: do that, but she's like she would make a great

943
00:41:17,600 --> 00:41:20,279
Speaker 2: contestant on supermarket sweet. I wanted to mention so she

944
00:41:20,400 --> 00:41:24,320
Speaker 2: was talking about getting more items at Costco in bulk,

945
00:41:24,400 --> 00:41:27,720
Speaker 2: specifically when they're on sale. That's something that we're considering doing,

946
00:41:28,160 --> 00:41:30,880
Speaker 2: taking advantage of the ability to do that. Specifically, when

947
00:41:30,880 --> 00:41:33,120
Speaker 2: I'm talking about here is potentially getting a deep freeze.

948
00:41:33,280 --> 00:41:35,160
Speaker 2: I want to crunch the numbers a little bit, figure

949
00:41:35,200 --> 00:41:37,200
Speaker 2: out how much it's actually going to cost me to

950
00:41:37,320 --> 00:41:40,560
Speaker 2: run to power a deep freeze in our garage. Yeah,

951
00:41:40,560 --> 00:41:42,760
Speaker 2: look at the energy star numbers or ye, yeah exactly,

952
00:41:42,800 --> 00:41:44,960
Speaker 2: and then try to calculate, like how much do I

953
00:41:44,960 --> 00:41:46,719
Speaker 2: actually think I can save? Because the problem is is

954
00:41:46,840 --> 00:41:48,759
Speaker 2: if you buy a pull lot of food, it's going

955
00:41:48,800 --> 00:41:51,120
Speaker 2: to spoil if you don't eat it, obviously, right, And

956
00:41:52,239 --> 00:41:55,120
Speaker 2: is there anybody who has an empty freezer at home? No,

957
00:41:55,360 --> 00:41:58,880
Speaker 2: Like everybody's freezer is always so packed out. And the

958
00:41:58,920 --> 00:42:03,080
Speaker 2: ability to buy more big old hunks of meat or vegetables,

959
00:42:03,120 --> 00:42:05,640
Speaker 2: just whatever berries as they go on sale and keep

960
00:42:05,640 --> 00:42:07,440
Speaker 2: them in the fridge. Man, Like I wouldn't be able

961
00:42:07,480 --> 00:42:09,680
Speaker 2: to do that to be a little more scrappy. Yeah, well,

962
00:42:09,680 --> 00:42:11,680
Speaker 2: when those sales will come along by them, stock up

963
00:42:11,719 --> 00:42:14,040
Speaker 2: in the proper season when things are on sale, and

964
00:42:14,040 --> 00:42:15,720
Speaker 2: then save them for later for sure. Exactly.

965
00:42:15,760 --> 00:42:17,919
Speaker 1: One of the other things she mentioned was she said

966
00:42:17,920 --> 00:42:19,680
Speaker 1: I stopped being stuck in my ways and I started

967
00:42:19,680 --> 00:42:21,640
Speaker 1: buying off brand items, which I love.

968
00:42:21,680 --> 00:42:23,480
Speaker 2: This is I think this is the biggest thing.

969
00:42:23,560 --> 00:42:26,040
Speaker 1: There's so much potential for savings area that you could

970
00:42:26,120 --> 00:42:27,640
Speaker 1: change where your shop which is one of the things

971
00:42:27,680 --> 00:42:30,719
Speaker 1: she said she did. But we always recommend ally, we

972
00:42:30,760 --> 00:42:32,560
Speaker 1: think it's the if you're going to do one thing,

973
00:42:32,600 --> 00:42:34,160
Speaker 1: that's probably the biggest thing. Like in my mind, it's

974
00:42:34,160 --> 00:42:37,080
Speaker 1: the lowest hanging fruit, the easiest thing, because like she

975
00:42:37,160 --> 00:42:39,960
Speaker 1: also mentioned that app which can be nice, but that's

976
00:42:40,000 --> 00:42:42,479
Speaker 1: sort of in my mind, it's couponing two point zero. Yeah,

977
00:42:42,600 --> 00:42:44,440
Speaker 1: it's like a little bit of ads, more hoops to

978
00:42:44,520 --> 00:42:46,920
Speaker 1: jump through, But the biggest thing is where you shop

979
00:42:46,960 --> 00:42:50,400
Speaker 1: and then and then discount or excuse me, store brand items.

980
00:42:50,719 --> 00:42:52,160
Speaker 1: Lots of times she can get him thirty to forty

981
00:42:52,200 --> 00:42:54,560
Speaker 1: percent off what the brand name cost is sometimes even more.

982
00:42:54,760 --> 00:42:57,000
Speaker 1: And consumer Reports, by the way, they did a taste

983
00:42:57,040 --> 00:42:59,239
Speaker 1: test a few years back, and they found most people

984
00:42:59,280 --> 00:43:01,560
Speaker 1: can't tell the difference between a lot of these store

985
00:43:01,560 --> 00:43:04,479
Speaker 1: brand name brand items, and so it's certainly worth another shot.

986
00:43:04,520 --> 00:43:06,959
Speaker 1: And especially when you're talking about all the or legal

987
00:43:07,000 --> 00:43:09,040
Speaker 1: shopping at one of those stores, because all you have

988
00:43:09,080 --> 00:43:10,239
Speaker 1: to do is just go to one of those two

989
00:43:10,280 --> 00:43:12,279
Speaker 1: grocery stores, go to all the well, they've got the

990
00:43:12,320 --> 00:43:14,759
Speaker 1: guarantee everybody has one of those news if it sucks,

991
00:43:14,800 --> 00:43:16,600
Speaker 1: you can take it back. If you're like these fake

992
00:43:16,640 --> 00:43:18,120
Speaker 1: oreos don't taste like oreos.

993
00:43:18,239 --> 00:43:21,799
Speaker 2: Take them back. It's the aldi doritos are terrible. I know.

994
00:43:21,920 --> 00:43:23,399
Speaker 2: You know what, Actually, I got a lot of flak

995
00:43:23,440 --> 00:43:26,480
Speaker 2: for that. I think we're gonna stop getting the American

996
00:43:26,600 --> 00:43:30,600
Speaker 2: singles like this. Che slices of cheese, it's the plastic on.

997
00:43:30,800 --> 00:43:32,840
Speaker 2: When you go to peel the cheese, it breaks. And

998
00:43:32,920 --> 00:43:35,440
Speaker 2: so we were recently doing burgers and I was slapping

999
00:43:35,520 --> 00:43:37,799
Speaker 2: you know, everybody. I know you don't like cheeseburgers, but

1000
00:43:38,120 --> 00:43:40,360
Speaker 2: all the rest of them hamburgers. All the rest of

1001
00:43:40,400 --> 00:43:43,480
Speaker 2: the world white cheddar up likes a cheeseburger. Jool And

1002
00:43:43,719 --> 00:43:46,560
Speaker 2: I was cracking those bad boys open, and they plastic

1003
00:43:46,640 --> 00:43:48,960
Speaker 2: kept ripping. It was like a cheap tape and you're

1004
00:43:48,960 --> 00:43:50,440
Speaker 2: trying when you're trying to like, you know, like if

1005
00:43:50,480 --> 00:43:52,040
Speaker 2: you've got some packing tape and you're trying to get

1006
00:43:52,080 --> 00:43:54,320
Speaker 2: a big piece of tape off and it keeps like shredding.

1007
00:43:54,600 --> 00:43:57,000
Speaker 2: That's what the plastic was doing. And I was afraid

1008
00:43:57,200 --> 00:43:59,120
Speaker 2: that there's gonna be a little piece of plastic on

1009
00:43:59,160 --> 00:44:00,960
Speaker 2: the on the cheeseburgers. Was a little paranoid. It kind

1010
00:44:00,960 --> 00:44:03,000
Speaker 2: of stress me out. Yeah, it's Okay, I don't think

1011
00:44:03,080 --> 00:44:04,799
Speaker 2: we should be getting the cheese anymore because I don't

1012
00:44:04,800 --> 00:44:06,839
Speaker 2: think it's worth it because of those way I was like,

1013
00:44:07,120 --> 00:44:09,000
Speaker 2: I don't want Yeah, I don't want anybody to be

1014
00:44:09,200 --> 00:44:11,960
Speaker 2: munching on any plasting, But I think more than all

1015
00:44:12,040 --> 00:44:15,000
Speaker 2: the alone, just go there. And I know we easily

1016
00:44:15,040 --> 00:44:17,719
Speaker 2: save thirty, if not forty percent, just from going there

1017
00:44:17,719 --> 00:44:18,480
Speaker 2: instead of Kroger.

1018
00:44:18,520 --> 00:44:20,600
Speaker 1: Well, I feel like Pam's whole post summed up a

1019
00:44:20,600 --> 00:44:22,240
Speaker 1: lot of the advice we would give to someone who's

1020
00:44:22,239 --> 00:44:24,480
Speaker 1: asking how do you save money? To the grocery store

1021
00:44:24,560 --> 00:44:28,040
Speaker 1: and pre making some meals like that too saves money

1022
00:44:28,080 --> 00:44:29,719
Speaker 1: on buying some of those prepackaged foods, and it.

1023
00:44:29,760 --> 00:44:33,000
Speaker 2: Also even eating out. Yeah, exactly that temptation. We got

1024
00:44:33,000 --> 00:44:33,560
Speaker 2: it ready to go.

1025
00:44:33,640 --> 00:44:35,359
Speaker 1: I've got a meal in the freezer, kind of feels

1026
00:44:35,360 --> 00:44:37,120
Speaker 1: like fast food I could pop in the oven, and

1027
00:44:37,200 --> 00:44:39,359
Speaker 1: we've got dinner tonight. Those are the kind of things

1028
00:44:39,400 --> 00:44:40,640
Speaker 1: to think through if you want to save at the

1029
00:44:40,680 --> 00:44:43,160
Speaker 1: grocery store, and they're just a lot of the low

1030
00:44:43,160 --> 00:44:44,640
Speaker 1: hanging fruit, a lot of the easy steps that a

1031
00:44:44,680 --> 00:44:46,680
Speaker 1: lot of people are just kind of unwilling to take.

1032
00:44:46,719 --> 00:44:49,120
Speaker 1: So kudos to you, PAMs. Are actually doing good work, Pam,

1033
00:44:49,160 --> 00:44:50,680
Speaker 1: and for saving as much as much money as you

1034
00:44:50,719 --> 00:44:53,240
Speaker 1: have grocery budgets. I think it's something around ten percent

1035
00:44:53,360 --> 00:44:55,000
Speaker 1: of what it is that we spend every single month.

1036
00:44:55,040 --> 00:44:57,600
Speaker 1: So any ability that we have to adjust something like

1037
00:44:57,640 --> 00:45:00,000
Speaker 1: that that we have total control over.

1038
00:45:00,200 --> 00:45:02,560
Speaker 2: Is a huge win in our book. Another win is

1039
00:45:02,800 --> 00:45:05,880
Speaker 2: from Bonnie and she said life win more than a

1040
00:45:05,880 --> 00:45:08,279
Speaker 2: money win, a craft beer equivalent. I have always told

1041
00:45:08,320 --> 00:45:10,920
Speaker 2: myself that when I make X dollars or when I

1042
00:45:11,000 --> 00:45:13,959
Speaker 2: had enough money whatever that means, I would hire someone

1043
00:45:14,000 --> 00:45:16,400
Speaker 2: to clean my house a couple times a month. However,

1044
00:45:16,480 --> 00:45:18,560
Speaker 2: I could never pull the trigger, even though we are

1045
00:45:18,600 --> 00:45:21,000
Speaker 2: now debt free except for our two and a quarter

1046
00:45:21,000 --> 00:45:25,640
Speaker 2: percent mortgage. Wow, humble, jealous, double brag, we are maxing

1047
00:45:25,680 --> 00:45:28,640
Speaker 2: out retirement accounts, et cetera. Then I had a realization

1048
00:45:28,719 --> 00:45:30,920
Speaker 2: that I hesitate to invite people to my home due

1049
00:45:30,960 --> 00:45:33,720
Speaker 2: to feeling like it is never clean enough, and she wrote,

1050
00:45:33,840 --> 00:45:36,600
Speaker 2: I do realize friends and family likely won't notice or care.

1051
00:45:37,280 --> 00:45:39,239
Speaker 2: So I pulled the trigger on spending the two hundred

1052
00:45:39,239 --> 00:45:41,480
Speaker 2: fifty dollars a month for the freedom to have people

1053
00:45:41,480 --> 00:45:43,400
Speaker 2: over at any time and being able to enjoy my

1054
00:45:43,440 --> 00:45:47,160
Speaker 2: time off work more without feeling guilty for procrastinating on

1055
00:45:47,600 --> 00:45:50,480
Speaker 2: cleaning the house. M Joel, what are your thoughts on

1056
00:45:50,840 --> 00:45:52,640
Speaker 2: Bonnie's money win. I like it.

1057
00:45:52,719 --> 00:45:56,600
Speaker 1: You're gonna get all judgy, Honestly, the exact opposite. I

1058
00:45:56,640 --> 00:45:58,160
Speaker 1: love that she's spending money in this way, and I

1059
00:45:58,200 --> 00:46:00,239
Speaker 1: love that she's connecting it to a deeper value that

1060
00:46:00,280 --> 00:46:03,360
Speaker 1: she has. That it's not just like I don't like

1061
00:46:03,440 --> 00:46:06,640
Speaker 1: cleaning or oh I want to be lazy, right, It

1062
00:46:06,719 --> 00:46:09,520
Speaker 1: is truly, you know, what I really value is community,

1063
00:46:09,520 --> 00:46:11,520
Speaker 1: having people over in my house and not and being

1064
00:46:11,560 --> 00:46:13,400
Speaker 1: able to do it full approach on a whim whenever

1065
00:46:13,440 --> 00:46:15,359
Speaker 1: I want to. And that's why I want to get

1066
00:46:15,360 --> 00:46:18,200
Speaker 1: this done, which is cool. And obviously she's financially prepared

1067
00:46:18,239 --> 00:46:20,040
Speaker 1: to do it. She can make this decision no matter

1068
00:46:20,080 --> 00:46:22,120
Speaker 1: what the underlying reason is, because she's making the other

1069
00:46:22,400 --> 00:46:24,440
Speaker 1: smart money moves. It just it makes me think of

1070
00:46:24,440 --> 00:46:27,959
Speaker 1: our conversation with Ben from Chronify about you know, time

1071
00:46:28,000 --> 00:46:30,520
Speaker 1: and money, and what he talked about was this one

1072
00:46:30,600 --> 00:46:32,000
Speaker 1: night of the week where they get takeout from their

1073
00:46:32,040 --> 00:46:35,520
Speaker 1: favorite Mediterranean place, and it was more than just like, ah,

1074
00:46:35,520 --> 00:46:38,080
Speaker 1: we don't have to cook because we don't like cooking

1075
00:46:38,440 --> 00:46:41,120
Speaker 1: it was. It was really so much deeper than that,

1076
00:46:41,160 --> 00:46:43,759
Speaker 1: the way he connected the money he spent on that

1077
00:46:44,200 --> 00:46:46,120
Speaker 1: to you know what it means no clean up. It

1078
00:46:46,120 --> 00:46:47,840
Speaker 1: means we can just really enjoy this family dinner and

1079
00:46:47,880 --> 00:46:50,399
Speaker 1: then play games afterwards without having to worry about cleaning

1080
00:46:50,440 --> 00:46:50,799
Speaker 1: up the kids.

1081
00:46:50,840 --> 00:46:52,719
Speaker 2: She talked about. Speaking of clean he talked about it

1082
00:46:52,719 --> 00:46:54,680
Speaker 2: being like clean eating as well. So he's just like,

1083
00:46:54,719 --> 00:46:57,920
Speaker 2: it's a healthy meal as opposed to fast food. So

1084
00:46:58,160 --> 00:46:59,719
Speaker 2: in his case, it was going to cost more than

1085
00:47:00,080 --> 00:47:03,839
Speaker 2: ding like a burrito or something from well, burrito's gonna

1086
00:47:03,840 --> 00:47:08,040
Speaker 2: be pretty help like a cheeseburger back getting a cheeseburger fries.

1087
00:47:08,880 --> 00:47:11,640
Speaker 2: But he was also valuing not in this case not

1088
00:47:11,680 --> 00:47:15,000
Speaker 2: just time spent together in community or relationship with his family,

1089
00:47:15,000 --> 00:47:17,319
Speaker 2: but also like his physical health, which is good too.

1090
00:47:17,400 --> 00:47:20,120
Speaker 1: And I think when lots of times we're doing stuff

1091
00:47:20,239 --> 00:47:24,600
Speaker 1: from pure convenience standpoint and we're not really connecting the

1092
00:47:24,640 --> 00:47:27,680
Speaker 1: dollars we're spending to something deeper, and I think even

1093
00:47:27,760 --> 00:47:30,040
Speaker 1: just reframing it and okay, why am I spending money

1094
00:47:30,040 --> 00:47:32,360
Speaker 1: like this again, it can help us feel less guilty

1095
00:47:32,440 --> 00:47:35,200
Speaker 1: about spending money in that direction and thinking of it

1096
00:47:35,239 --> 00:47:37,160
Speaker 1: that's why we talk about the craft beer equivalent. When

1097
00:47:37,160 --> 00:47:38,920
Speaker 1: you can think of money you're spending on even just

1098
00:47:38,960 --> 00:47:40,719
Speaker 1: a spoorers and saying like this is something that brings

1099
00:47:40,719 --> 00:47:42,640
Speaker 1: me a lot of joy for this, this and this reason.

1100
00:47:42,719 --> 00:47:44,600
Speaker 1: When you can call those things out, it can help

1101
00:47:44,680 --> 00:47:47,880
Speaker 1: connect the money spent to the deeper reason. It's a

1102
00:47:47,920 --> 00:47:51,000
Speaker 1: good thing and makes me even think about our episode

1103
00:47:51,080 --> 00:47:52,760
Speaker 1: Ken Honda back in the day and how that helped

1104
00:47:52,880 --> 00:47:55,239
Speaker 1: me change how we were spending money in a couple

1105
00:47:55,280 --> 00:47:58,120
Speaker 1: of ways, and it just made me feel less guilty

1106
00:47:58,239 --> 00:48:00,680
Speaker 1: about doing it. And I think I've always had this

1107
00:48:00,920 --> 00:48:03,560
Speaker 1: ability to be guilt ridden when it comes to how

1108
00:48:03,600 --> 00:48:06,520
Speaker 1: I spend money, largely because of the way I just

1109
00:48:06,520 --> 00:48:08,959
Speaker 1: felt like I had to save and invest everything. And

1110
00:48:09,320 --> 00:48:12,879
Speaker 1: I've grown up, I've realized, especially in recent years, that's

1111
00:48:12,880 --> 00:48:14,719
Speaker 1: really silly, and there's a lot of good that can

1112
00:48:14,719 --> 00:48:16,440
Speaker 1: come from spending your money well on things that you

1113
00:48:16,480 --> 00:48:20,000
Speaker 1: care about and so, but connecting the dots is really important.

1114
00:48:20,080 --> 00:48:23,480
Speaker 2: Yeah, that being said, and I completely agree with everything

1115
00:48:23,560 --> 00:48:27,560
Speaker 2: that you're saying. I think that, like they sometimes you

1116
00:48:27,600 --> 00:48:30,160
Speaker 2: don't even need to justify your spending if you are

1117
00:48:30,200 --> 00:48:32,160
Speaker 2: reaching your financial goals, and so I think that's a

1118
00:48:32,239 --> 00:48:34,200
Speaker 2: huge part of Bonni's story, right, the fact that she

1119
00:48:34,320 --> 00:48:37,480
Speaker 2: has achieved her financial some different financial goals or milestones

1120
00:48:37,480 --> 00:48:40,480
Speaker 2: that she's got going on, and for her, the bigger

1121
00:48:40,480 --> 00:48:42,600
Speaker 2: win here is that she has mentally arrived right like

1122
00:48:42,600 --> 00:48:45,560
Speaker 2: she is, She's already she's previously financially arrived, and now

1123
00:48:45,560 --> 00:48:48,600
Speaker 2: for her to mentally arrived at that point, she's kind

1124
00:48:48,600 --> 00:48:51,120
Speaker 2: of doing it through thinking about community. And again, everything

1125
00:48:51,160 --> 00:48:53,000
Speaker 2: that you said and everything that she's saying I completely

1126
00:48:53,000 --> 00:48:55,879
Speaker 2: agree with. But I think like this is I guess,

1127
00:48:55,880 --> 00:48:59,120
Speaker 2: the more libertarian approach. If you are reaching your financial goals,

1128
00:48:59,160 --> 00:49:01,080
Speaker 2: I don't even really care what you spend your money on.

1129
00:49:01,120 --> 00:49:04,239
Speaker 2: Hopefully there's some sort of ideal something that's driving you,

1130
00:49:04,320 --> 00:49:06,760
Speaker 2: like a way that you're able to justify it. But honestly,

1131
00:49:07,040 --> 00:49:09,680
Speaker 2: I don't even really care because you have as long

1132
00:49:09,719 --> 00:49:12,760
Speaker 2: as you are making excuses for goals that you aren't achieving.

1133
00:49:13,400 --> 00:49:15,560
Speaker 2: Like in my mind, I almost see it as like

1134
00:49:15,600 --> 00:49:17,920
Speaker 2: a black er white thing. You know. I don't want

1135
00:49:17,960 --> 00:49:20,760
Speaker 2: you to like literally flesh money down the toilet unless

1136
00:49:20,760 --> 00:49:24,360
Speaker 2: that somehow gives you some weird pleasure. I don't know,

1137
00:49:24,440 --> 00:49:26,439
Speaker 2: is that a king? But like we are all different people,

1138
00:49:26,440 --> 00:49:28,319
Speaker 2: and we all have different things that we prioritize and

1139
00:49:28,360 --> 00:49:32,160
Speaker 2: things because for somebody else it's just maybe their thing

1140
00:49:32,200 --> 00:49:33,680
Speaker 2: that they're able to connect it to is just it

1141
00:49:33,719 --> 00:49:35,960
Speaker 2: truly is convenience. Maybe their big thing is I just

1142
00:49:36,080 --> 00:49:38,600
Speaker 2: want to not have to think about anything, all right.

1143
00:49:38,600 --> 00:49:42,200
Speaker 2: That sounds like being lazy, But if that's what it

1144
00:49:42,320 --> 00:49:44,280
Speaker 2: is for that person, I'm not going to tell anybody

1145
00:49:44,560 --> 00:49:46,640
Speaker 2: that that shouldn't be something that they spend money on.

1146
00:49:46,800 --> 00:49:49,200
Speaker 2: So I love the fact that you can connect it

1147
00:49:49,239 --> 00:49:52,400
Speaker 2: to things that truly do bring you, like life satisfaction

1148
00:49:52,480 --> 00:49:53,879
Speaker 2: and where you're able to hit some of these other

1149
00:49:54,200 --> 00:49:57,280
Speaker 2: goals in life other than just financial. But I also

1150
00:49:57,280 --> 00:49:59,719
Speaker 2: think if you are reaching your financial milestones, the different

1151
00:49:59,760 --> 00:50:01,719
Speaker 2: goals have that you can kind of spend your money

1152
00:50:01,719 --> 00:50:04,719
Speaker 2: however you want, yeah, yeah, or give it away even sure,

1153
00:50:05,000 --> 00:50:07,759
Speaker 2: which is I think another great goal. So I think

1154
00:50:07,800 --> 00:50:10,359
Speaker 2: people like Bonnie are probably rare, though usually most people

1155
00:50:10,400 --> 00:50:13,120
Speaker 2: are like don't have enough money left over to invest

1156
00:50:13,120 --> 00:50:15,200
Speaker 2: because they're spending on so many things to make their

1157
00:50:15,239 --> 00:50:16,719
Speaker 2: lives easier. Bonnie's on the frugal side.

1158
00:50:16,960 --> 00:50:19,840
Speaker 1: Yeah, but I think probably there's a disproportionate amount of

1159
00:50:19,840 --> 00:50:23,200
Speaker 1: folks who listen to our podcast who do fall into

1160
00:50:23,200 --> 00:50:25,880
Speaker 1: that camp, who are told so bent in the frugal

1161
00:50:25,920 --> 00:50:28,720
Speaker 1: direction that they have a hard time loosening the purse strings.

1162
00:50:28,920 --> 00:50:30,759
Speaker 1: And so I think it's a really good thing to

1163
00:50:30,840 --> 00:50:32,799
Speaker 1: go back and look and say, well, how much money

1164
00:50:32,800 --> 00:50:34,960
Speaker 1: do we have saved leftover? Can we afford to splurge

1165
00:50:35,200 --> 00:50:37,200
Speaker 1: on this or that the things that matter to us?

1166
00:50:37,360 --> 00:50:40,200
Speaker 1: Because you can't spend on everything. We know that if

1167
00:50:40,239 --> 00:50:42,000
Speaker 1: you choose to spend on everything, you won't have any

1168
00:50:42,040 --> 00:50:45,040
Speaker 1: money left over to save and invest and give money

1169
00:50:45,040 --> 00:50:47,200
Speaker 1: to the causes that matter to you. And so you

1170
00:50:47,280 --> 00:50:50,520
Speaker 1: have to be thoughtful about where you're putting those extra dollars.

1171
00:50:50,760 --> 00:50:52,879
Speaker 1: But I think that a lot of our listeners could

1172
00:50:52,880 --> 00:50:55,160
Speaker 1: stand to benefit from kind of what Bonnie is saying.

1173
00:50:55,400 --> 00:50:57,160
Speaker 1: And maybe you rethink some of those things that they

1174
00:50:57,160 --> 00:50:59,840
Speaker 1: had said were off limits for them financially, and maybe

1175
00:50:59,840 --> 00:51:02,040
Speaker 1: so to dedicate more dollars in that direction, and it's

1176
00:51:02,040 --> 00:51:04,160
Speaker 1: going to prove to add a whole lot of happiness

1177
00:51:04,160 --> 00:51:06,920
Speaker 1: to their lives. But they just haven't given themselves permission

1178
00:51:07,200 --> 00:51:08,640
Speaker 1: to spend money in that direction yet.

1179
00:51:08,719 --> 00:51:11,440
Speaker 2: Absolutely, Yeah, anchoring it to something that matters more to

1180
00:51:11,520 --> 00:51:13,879
Speaker 2: you than having actual dollars on the hand, because yeah,

1181
00:51:13,920 --> 00:51:15,960
Speaker 2: at the end of the day, what does what does

1182
00:51:15,960 --> 00:51:18,120
Speaker 2: that extra two hundred dollars a month mean for your

1183
00:51:18,120 --> 00:51:21,279
Speaker 2: financial future? Sure, you can run a return simulator on

1184
00:51:21,320 --> 00:51:22,920
Speaker 2: what that money invest in the s and P five

1185
00:51:22,960 --> 00:51:24,759
Speaker 2: hundred is going to give you, but how much joy

1186
00:51:24,800 --> 00:51:25,960
Speaker 2: is it going to give you in the here and now?

1187
00:51:26,040 --> 00:51:27,400
Speaker 2: And are you still going to have enough money in

1188
00:51:27,400 --> 00:51:30,239
Speaker 2: the future because you're already investing really well, then maybe

1189
00:51:30,239 --> 00:51:31,960
Speaker 2: you can part with that two hundred bucks and use

1190
00:51:32,000 --> 00:51:34,160
Speaker 2: it to spend on cleaning the house so that you

1191
00:51:34,160 --> 00:51:37,000
Speaker 2: can enjoy your friends and that extra bottle of wine

1192
00:51:37,000 --> 00:51:40,880
Speaker 2: you gotta buy too, the host. Don't forget those ancillary costs, Bannie,

1193
00:51:41,239 --> 00:51:44,200
Speaker 2: But thank you for sharing that. And again Joe mentioned

1194
00:51:44,200 --> 00:51:46,120
Speaker 2: the how to Money Facebook group. Head over there if

1195
00:51:46,160 --> 00:51:48,319
Speaker 2: you have not yet checked it out. It's I'm going

1196
00:51:48,400 --> 00:51:50,880
Speaker 2: to say, the happiest place on the entire Internet.

1197
00:51:50,960 --> 00:51:54,680
Speaker 1: Yeah, internets, And there aren't necessarily as many happy places

1198
00:51:54,680 --> 00:51:55,920
Speaker 1: as you would hope on the Internet, but this is

1199
00:51:55,960 --> 00:51:57,799
Speaker 1: one at all. Yeah, but let's let's get back to

1200
00:51:57,800 --> 00:52:00,440
Speaker 1: the beer. This one's called Strawberry Lemonade Suns. It's by

1201
00:52:00,520 --> 00:52:02,640
Speaker 1: Inner Voice Brewing or your thoughts on this, spear Man

1202
00:52:03,239 --> 00:52:03,680
Speaker 1: so good.

1203
00:52:04,120 --> 00:52:06,560
Speaker 2: I will say that on the nose, I was expecting

1204
00:52:06,760 --> 00:52:09,400
Speaker 2: much more strawberry. Then when you start drinking it, I

1205
00:52:09,400 --> 00:52:12,720
Speaker 2: feel like there's more of the tart lemon. The sourness

1206
00:52:12,800 --> 00:52:15,239
Speaker 2: kind of come coming through, more strawberry in the nose,

1207
00:52:15,360 --> 00:52:18,799
Speaker 2: more lemon on the tongue, in the actual mouth. I

1208
00:52:18,800 --> 00:52:21,040
Speaker 2: could one hundred percent picture of this being like a

1209
00:52:21,040 --> 00:52:23,880
Speaker 2: frozen drink. Oh you know what I'm talking about, Like

1210
00:52:23,880 --> 00:52:25,759
Speaker 2: you could you imagine these flavors like it just the

1211
00:52:26,280 --> 00:52:28,640
Speaker 2: with a straw and you're sitting on the beach. Side,

1212
00:52:28,680 --> 00:52:29,560
Speaker 2: That's what I was saying. Side.

1213
00:52:29,600 --> 00:52:32,080
Speaker 1: This feels like a beach drink with an umbrella in it,

1214
00:52:31,520 --> 00:52:35,560
Speaker 1: but in beer form, right, and strawberry lemonade. What a

1215
00:52:35,560 --> 00:52:37,680
Speaker 1: great what a great beverage. But turning it into a beer.

1216
00:52:37,760 --> 00:52:39,640
Speaker 1: I was worried that this is going to be like

1217
00:52:39,960 --> 00:52:42,759
Speaker 1: way too sweet, way too cloying, or something like that.

1218
00:52:42,880 --> 00:52:44,479
Speaker 2: It was just right, No, it was great.

1219
00:52:44,480 --> 00:52:47,680
Speaker 1: This was really well balanced. And lemon lemon can sometimes

1220
00:52:47,719 --> 00:52:49,759
Speaker 1: be a little too harsh, too tart for me.

1221
00:52:49,880 --> 00:52:50,479
Speaker 2: But this wasn't.

1222
00:52:50,480 --> 00:52:52,840
Speaker 1: This was perfectly balanced, Like got both the strawberry and

1223
00:52:52,840 --> 00:52:55,160
Speaker 1: the lemonade in there, and it was laid back version

1224
00:52:55,239 --> 00:52:57,680
Speaker 1: of kind of of something that I was thinking was

1225
00:52:57,680 --> 00:52:59,520
Speaker 1: going to be too intense, so bad. Props to the

1226
00:52:59,520 --> 00:53:01,520
Speaker 1: folks that in Voice for making just another great beer.

1227
00:53:01,640 --> 00:53:03,359
Speaker 2: Yeah. And if you have a twenty one year old

1228
00:53:03,440 --> 00:53:05,200
Speaker 2: and you're worried that they're not going to take up

1229
00:53:05,200 --> 00:53:08,680
Speaker 2: craft beer drinking like like you enjoy, try something like this,

1230
00:53:08,800 --> 00:53:11,200
Speaker 2: you know, because maybe they're used to enjoying the strawberry

1231
00:53:11,239 --> 00:53:15,120
Speaker 2: lemonade minute made frozen tree like out the Six Flags

1232
00:53:15,200 --> 00:53:18,279
Speaker 2: or whatever amusement park. This is a way to step

1233
00:53:18,280 --> 00:53:19,080
Speaker 2: it up to the next level.

1234
00:53:19,120 --> 00:53:21,160
Speaker 1: If they're only drinking white Claw, this is a beer

1235
00:53:21,200 --> 00:53:23,320
Speaker 1: to give them so that they can try craft beer.

1236
00:53:23,360 --> 00:53:25,520
Speaker 1: But maybe the nice Gateway drunk.

1237
00:53:25,360 --> 00:53:28,160
Speaker 2: You know, that's gonna be it for this episode of

1238
00:53:28,200 --> 00:53:30,680
Speaker 2: How to Money. You can find links any of their

1239
00:53:30,719 --> 00:53:32,919
Speaker 2: different resources we may have mentioned in our show notes

1240
00:53:33,000 --> 00:53:34,840
Speaker 2: up on the website at how Tomoney dot com and

1241
00:53:34,920 --> 00:53:37,359
Speaker 2: so buddy. Until next time, Best friends Are I'm best

1242
00:53:37,400 --> 00:53:38,839
Speaker 2: Friends Out