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Speaker 1: Welcome to Had of Money. I'm Joel, I'm Matt.

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Speaker 2: Today we're gonna answer some of your listener questions.

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Speaker 1: That's right, it's Monday. You know what we're gonna do today.

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Speaker 1: If you are a new listener, welcome and we hope

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Speaker 1: you enjoy the show. But this is where we do

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Speaker 1: take listener questions. We're gonna talk about Velocity banking. We've

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Speaker 1: got a listener who's interested in paying down some debt.

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Speaker 1: We're gonna talk about the easiest, the best, the most

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Speaker 1: efficient way to give your dollars. That's right. We're gonna

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Speaker 1: talk about donor advised funds, some of the ins and

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Speaker 1: outs there, and then we're also going to discuss some

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Speaker 1: legal ways to pay less of your medical bill. So yeah,

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Speaker 1: totally legal. We'll get to that more during our episode today.

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Speaker 1: Moved to an artica.

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Speaker 2: They can't reach you there, figure death and hop on

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Speaker 2: a play. All right, If you get caught, then you're

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Speaker 2: in trouble, so.

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Speaker 1: It's probably not worth it. What's the what's the group

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Speaker 1: that the Global International Group INTERPOL? After I was about

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Speaker 1: to say it was named after the Antarctica, Interpol, I

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Speaker 1: actually literally don't know what INTERPOL does except I feel

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Speaker 1: like it's some sort of global coordination when it comes

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Speaker 1: to law enforcement efforts.

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Speaker 2: Is a good rock and roll band too?

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Speaker 1: Yeah? Yeah, they are? They still around? I don't know.

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Speaker 1: It's a good question. It's kind of got that drone

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Speaker 1: drony voice. Yeah, Okay.

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Speaker 2: Before we get to list of questions, Matt, I wanted

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Speaker 2: to mention, like I wish I had like a grave

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Speaker 2: marker or something. It looks like one of our one

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Speaker 2: of my favorite companies is about to not exist anymore,

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Speaker 2: Rad Power Bikes, Rad Bikes.

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Speaker 1: I saw this, yeah, pulling out for all of our

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Speaker 1: homies over at rad. Yeah.

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Speaker 2: So like the bikers, biking and bike companies had a

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Speaker 2: big run up in those early COVID days where everybody

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Speaker 2: was like, oh, let's bike, and so a lot of

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Speaker 2: bike purchases were front loaded and these companies were like

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Speaker 2: expanding their footprint, and it seems like there's been a

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Speaker 2: pullback in demand and some of the bike companies just

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Speaker 2: haven't known how to deal with that. After having bumper

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Speaker 2: years for a couple of those years the demand pullback,

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Speaker 2: they're just like, ah, we're freaking out, and sadly Rad

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Speaker 2: Power Bikes unless they get some sort of cash infusion

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Speaker 2: is going to be toast in the next month or two.

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Speaker 1: It made sense when it made sense, you know, but

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Speaker 1: I guess the economics don't. They're not maintaining the business right,

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Speaker 1: whether it's the increased demand that we had, then maybe

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Speaker 1: there's a decrease in demand, but also the whole supply

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Speaker 1: side of things too, right, like given tariffs, and when

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Speaker 1: you are a company like Rad who's trying to compete,

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Speaker 1: I think with some of the companies abroad who are

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Speaker 1: making very affordable products like this, it's tough to kind

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Speaker 1: of beat them at their own game.

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Speaker 2: Yeah, they live in that one thousand to twenty dollars

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Speaker 2: price point. Now, some of these electric bike makers are

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Speaker 2: making stuff and.

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Speaker 1: They're just shipping them straight from the five six seven

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Speaker 1: dollars price range, and so Rad's like, ah, we can't,

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Speaker 1: we can't roll with those profit margins. It's tough to compete. Yeah, yeah,

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Speaker 1: which actually maybe. So when I saw that article, I

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Speaker 1: hopped over and did some searching because I was curious

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Speaker 1: if the So I had a non E bike but

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Speaker 1: it was a cargo bike. So you had the rad

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Speaker 1: Wagon which was an E cargo bill do oh, that's right, Yeah,

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Speaker 1: you're still still holding up, so great serving you.

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Speaker 3: Well.

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Speaker 1: I sold mine sometime last year since we never no

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Speaker 1: longer used it, but I looked up Uba and I

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Speaker 1: was happy to see that they're still in business. Although

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Speaker 1: they did move their headquarters to Europe, which which doesn't

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Speaker 1: seem like it aligns with market. I guess that made

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Speaker 1: more sense for them. Yeah, I don't know who knows

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Speaker 1: actually why they moved. I don't know. I just found

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Speaker 1: that really fascinating. I think.

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Speaker 2: I think as far as rad power bikes, one maybe

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Speaker 2: good or thing worth telling people is to think twice

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Speaker 2: before you buy a bike from a manufacturer that might

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Speaker 2: go out of business, because I think the only way

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Speaker 2: I would buy a bike from them at this point

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Speaker 2: is if they had a massive kind of going out

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Speaker 2: of business sale, and let's say the model that you're

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Speaker 2: looking at that's twelve hundred dollars is on sale for

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Speaker 2: like six or seven hundred dollars, then I might be

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Speaker 2: willing to do that. But especially some of the bikes

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Speaker 2: that have proprietary gear, you might not be able to

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Speaker 2: get that gear in the future, and so you have

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Speaker 2: to think about.

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Speaker 1: That special add ons. Yeah, it's just like, oh, no,

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Speaker 1: this is a system that's going to be around, right,

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Speaker 1: not to mention any sort of manufacturer's warranty that obviously

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Speaker 1: they won't be able.

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Speaker 2: To uphold this right. And I'm thinking about even if

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Speaker 2: I needed something for my rad wagon, which I don't

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Speaker 2: think any anything right now, but it might be not

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Speaker 2: be a bad idea to buy a tire, yes, specialty tires. Yeah,

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Speaker 2: so like the tires are wheels. Well, I think the

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Speaker 2: tire size is specific that.

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Speaker 1: You can find it from another manufacturer. Yeah, maybe maybe

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Speaker 1: that ahead of time. Yeah, either way, I would kind

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Speaker 1: of look over it with a fine tooth comb and say, well,

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Speaker 1: it looks like it's about to break. Yeah, yeah, exactly,

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Speaker 1: maybe stuck up on some Yeah, because if it's serving

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Speaker 1: you well man with a few good parts, you know,

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Speaker 1: they're stowed away in the garage. I could continue to

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Speaker 1: serve you for like another five ten years. Yeah, although

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Speaker 1: at that point you're probably not going to be houling kids. No,

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Speaker 1: probably not.

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Speaker 2: So I enjoy it. I'll probably keep it around for

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Speaker 2: another year or two and then sell it like you.

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Speaker 1: Did with you. Yeah. In your case, you're even taking

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Speaker 1: a little dude to school, which is awesome. I told

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Speaker 1: I still miss the ability to do that because our

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Speaker 1: school's further it's further out. But the glory days of

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Speaker 1: piling like two or three kids on there at our

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Speaker 1: old house and then right into the neighborhood, bike in

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Speaker 1: to the local school. Great memories, best memories, so good.

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Speaker 2: For sure, I would pour out a beer, but we're

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Speaker 2: gonna drink this one instead, so but hey, we don't

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Speaker 2: waste good beer. Sorry, this one is automatic IPA by

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Speaker 2: Creature Comforts. We'll give our thoughts on this one at

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Speaker 2: the end of the episode. Let's get the listener questions.

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Speaker 2: And by the way, if you have a question, go

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Speaker 2: to how to money dot com, slash ask, or just

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Speaker 2: record your money question on the voice memo app of

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Speaker 2: your phone. Email it over to us how to moneypod

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Speaker 2: at gmail dot com. Is that email address. Now, let's

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Speaker 2: take a weird question about like a unique way of

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Speaker 2: thinking about debt payoff.

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Speaker 4: Hi, Matt and Joel Brock from Western Illinois. Longtime listener,

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Speaker 4: first time caller. I've always wanted to say that. On

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Speaker 4: your October thirteenth episode you said you wanted some weird questions.

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Speaker 4: I think I had one. I'm just over two years

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Speaker 4: into a new mortgage, and I'm looking for ways to

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Speaker 4: trim debt. I ran across something called Velocity banking, which

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Speaker 4: seems to be a way to leverage low interest debt

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Speaker 4: to pay ahead against the amortization schedule and cut much

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Speaker 4: of the front end interest. This seems very risky with

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Speaker 4: high interest debt, but it seems like it could work

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Speaker 4: with something like a low interest heelock. Is this a

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Speaker 4: legitimate strategy or is it wishful thinking? Thanks for the

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Speaker 4: hours upon hours of informational entertainment.

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Speaker 1: Informational entertainment, Jie, I don't think there could be any

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Speaker 1: higher compliment paid to what we do here on the

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Speaker 1: Podcastftain Infertainment. That's like exactly what we're seeing here, Like

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Speaker 1: we want you to be able to go home with

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Speaker 1: some practical knowledge and advice perhaps, but also we kind

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Speaker 1: of want to make you smile, so right, Like we

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Speaker 1: want to be able to provide value on both fronts.

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Speaker 2: Yeah, so it don't make you laugh for a smile,

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Speaker 2: then we're also not doing our job. Yeah, that'd be both.

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Speaker 2: It's a high standard that we hold here. How to

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Speaker 2: many headquarters, that's right, well, and I love weird questions.

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Speaker 2: I will say brock. You can go even weirder next

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Speaker 2: time if you want to.

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Speaker 1: But this is weird.

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Speaker 2: This is weird on the weird side of finance, and

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Speaker 2: so love that you're asking a question. I think we've

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Speaker 2: taken this one on the show a time or two,

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Speaker 2: but it's been quite a while. And this is one

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Speaker 2: of those strategies that draws a lot of eyeballs, especially

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Speaker 2: on certain corners of the Internet. And I think it's

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Speaker 2: because the promises are lofty, Right, you can pay off

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Speaker 2: your mortgage in five to seven years instead of thirty years.

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Speaker 2: And for a lot of people, they see that and

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Speaker 2: they are smitten. Right, that's enough to catch anyone's attention.

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Speaker 2: But the truth is, if mortgage payoff is by far

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Speaker 2: your most important financial goal, yeah, it is possible for

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Speaker 2: this to math madically help, but should that be your

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Speaker 2: most important financial goal? And it's also just not nearly

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Speaker 2: as helpful as a lot of influencers make it sound.

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Speaker 2: The pitfalls of the velocity banking I believe it goes

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Speaker 2: by other names as well, But the pitfalls of that

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Speaker 2: strategy can be many, and they can actually I think

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Speaker 2: push you in a direction of trying to win in

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Speaker 2: one aspect of your personal finance as well losing in others. Yeah,

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Speaker 2: but I do love that brock that you want to

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Speaker 2: trim some debts, and our answer since the beginning of

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Speaker 2: time basically is to not pay down your mortgage more

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Speaker 2: quickly than you need to. Are you around at the

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Speaker 2: beginning of time, Matt, Yes.

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Speaker 1: Since the beginning of mortgages, I was there, and I

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Speaker 1: certainly still feel that way for listeners who have a

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Speaker 1: locked in mortgage, let's say, in like the two to

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Speaker 1: four four and a half percent range, Why would you

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Speaker 1: pay it off early when there are so many better

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Speaker 1: things that you could do with that money? But you

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Speaker 1: said you bought your home two years ago, meaning that

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Speaker 1: you don't have one of those cozy all time low rates.

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Speaker 1: But still I think I would ask you to think

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Speaker 1: about whether there are more productive things that you could

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Speaker 1: do with your funds, right, Like, do you have any

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Speaker 1: other debts that you might want to prioritize first? And

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Speaker 1: refer to the money gears as well, because I would

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Speaker 1: love to know where you are on the money gear spectrum?

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Speaker 1: Like what gear is it? One? We were just talking

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Speaker 1: about rad bikes, Like maybe you are on e assist. Oh,

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Speaker 1: what if we should we should build an e assist

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Speaker 1: into the money gears for your money gears. What would

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Speaker 1: that look like inheritance?

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Speaker 4: Right?

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Speaker 1: Or you're like you just bumped up two money gears, Yeah, exactly,

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Speaker 1: maybe that could be it. But for instance, if you

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Speaker 1: are in the final money gear money year seven, I

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Speaker 1: think taking some extra income that you have to pay

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Speaker 1: down this mortgage, it's it's a more reasonable decision and

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Speaker 1: more of a step that we could get behind, as

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Speaker 1: opposed to maybe let's say you were in a scenario

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Speaker 1: where you weren't fully funding your retirement accounts, where you

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Speaker 1: were carrying some additional higher rate debt, we would want

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Speaker 1: you to certainly prioritize that first.

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Speaker 2: Let's also just briefly mentioned that refinancing debt as rates

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Speaker 2: go down could be a smarter maybe not like today,

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Speaker 2: but maybe if you're looking around at your credit Union

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Speaker 2: and you're seeing I'm in the upper sixes or low

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Speaker 2: sevens or something like that, because when I took my

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Speaker 2: mortgage out two years ago, credit Union is offering something

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Speaker 2: in the low fives, which we have seen on certain

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Speaker 2: mortgage products, and so maybe that is a better way

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Speaker 2: to save on interest that you're paying towards your mortgage

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Speaker 2: debt than to just try this velocity banking route in

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Speaker 2: order to pay it off as quickly as possible. And

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Speaker 2: let's maybe talk specifically about this strategy. It's touted as

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Speaker 2: this way to pay off your mortgage more quickly through

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Speaker 2: the use of a home equity line of credit, and

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Speaker 2: the strategy it might make a little sense if your

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Speaker 2: helock rate was lower than your mortgage rate. But he

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Speaker 2: lock rates aren't great right now, Matt. There been quite

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Speaker 2: a while since that's been the case. Yeah, And so

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Speaker 2: I'm seeing and that's why I think this has actually

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Speaker 2: lost a lot of popularity. And I'm actually surprised brought

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Speaker 2: saw something about this, because it's just it's lost some

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Speaker 2: luster as he lock rates have risen. I'm guessing if

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Speaker 2: you're looking around helock right now, you're probably going to

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Speaker 2: be quoted a rate in the upper seventh low eights. Probably,

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Speaker 2: I'd imagine your mortgage rate is lower than that. If

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Speaker 2: you somehow had a helock with a much lower rate,

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Speaker 2: it would potentially tilt things in favor of attempting this strategy,

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Speaker 2: but even still we'd probably avoid it. And that's you know,

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Speaker 2: while rates have been slowly declining Yeah, could make the

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Speaker 2: strategy more appealing as helock rates decline even more, but

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Speaker 2: they're just not guaranteed to keep going down, especially with

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Speaker 2: inflation remaining a problem. Matt, I think it's been kind

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Speaker 2: of assumed that, well, mortgage rates are going to go

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Speaker 2: back down to back into that three four percent range

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Speaker 2: on mortgages and potentially those helocks as well. So I'm

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Speaker 2: just waiting it out and then I'll take advantage of

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Speaker 2: that low interest that again, But people who are like

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Speaker 2: banking on that assuming that that's coming to pass, I

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Speaker 2: think you're looking more to recent history than you are

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Speaker 2: to kind of a broader timeline.

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Speaker 1: Yeah, count your chickens before they hatch. Yeah. Ultimately, velocity

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Speaker 1: it adds that complexity. It does not offer superior results.

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Speaker 1: And I mean, honestly, many folks just don't have the

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Speaker 1: time or the interest to really make the velocity banking

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Speaker 1: strategy pay off. And then not committing all the way

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Speaker 1: right like they just say, you try it out, you

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Speaker 1: kind of fall off the wagon. It could then end

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Speaker 1: up causing you more harm just down the road as

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Speaker 1: your debt than balloons. And truly, the secret sauce to

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Speaker 1: velocity banking is making regular extra payments, and that is

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Speaker 1: something that you could do if you're so inclined, and

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Speaker 1: that would be a better approach just to leave out

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Speaker 1: the velocity part of it altogether. But either way, you've

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Speaker 1: got to be disciplined. I mean, you could automate those

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Speaker 1: extra payments so you don't forget, but even just paying

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Speaker 1: two extra payments a year could knock off something. I

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Speaker 1: think it's like five to six years from your overall

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Speaker 1: loan length on a thirty year mortgage. But oftentimes, when

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Speaker 1: you see these pitches or you're watching these videos online,

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Speaker 1: it's not a fair comparison. It's not apples to apples.

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Speaker 1: And oftentimes what they compare is a more where you're

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Speaker 1: making regular payments as scheduled on time, and then you're

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Speaker 1: doing the velocity banking, which oh happens to include these

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Speaker 1: additional payments, and they're like, oh, yeah, you're going to

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Speaker 1: completely eliminate this thirty year mortgage in seven years, it's

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Speaker 1: going to be gone. But that's not at all fair. Yeah,

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Speaker 1: there should be an intermediate mediary example there too, where

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Speaker 1: it's just like, oh, and here's somebody who makes three

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Speaker 1: extra payments every single year to their mortgage and I

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Speaker 1: don't know what that would put you around, but you

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Speaker 1: can knock out a thirty year maybe in like twenty

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Speaker 1: one years. Probably, yeah, probably.

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Speaker 2: Twenty twenty one years would be my guess something like

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Speaker 2: that if you're making three additional payments, And so that would

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Speaker 2: be more of like an Apple's Stapples comparison with what

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Speaker 2: Velocity Banking is trying to accomplish, and Velocity Banking it

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Speaker 2: makes it seem like the paidoff mortgage is the most

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Speaker 2: important financial goal to strive for, and it is a

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Speaker 2: solid goal, and it's one that's worth working steadily towards,

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Speaker 2: depending again on your rate and like your other financial goals,

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Speaker 2: but going all in in that pursuit would be what

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Speaker 2: we would say is an over prioritization of what, for

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Speaker 2: many people is a lower ranking financial goal. There's just

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Speaker 2: a bunch of other things they want to accomplish before

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Speaker 2: they go hogwild to try to pay off their mortgage

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Speaker 2: in as little time as possible. And so I just

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Speaker 2: think it's it's trying to over optimize, it's trying to

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Speaker 2: solve a problem that doesn't really exist, and it's just

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Speaker 2: it's an overly complicated way to potentially save a few

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Speaker 2: bucks on interest. It just doesn't fit into our framework

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Speaker 2: of prioritizing financial goals correctly.

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Speaker 1: And if you.

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Speaker 2: Are again like you're alluded to Matt, if you're far

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Speaker 2: along on money Gear seven and you're like, yep, I

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Speaker 2: got nothing else to do with this money. I'm maxing

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Speaker 2: out all the accounts. Guys like I have tons of cash,

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Speaker 2: go for it. I'm coast fire and like, I just

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Speaker 2: really need to get rid of this mortgage. And then guys,

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Speaker 2: I'm debt free and I'm fully stocked for retirement.

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Speaker 1: Kudos, go for it.

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Speaker 2: But even then, like, do you need to go the

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Speaker 2: velocity banking route and jump through the helock hoops or

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Speaker 2: can you just start making extra payments towards principle every

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Speaker 2: single month or making full extra payments however many times

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Speaker 2: a year you want to do that in order to

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Speaker 2: eradicate that debt.

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Speaker 1: In short order. Totally. Yeah, for the most part. This

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Speaker 1: is why we think mortgages are pretty solid products because

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Speaker 1: they allow you to strive after multiple goals at the

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Speaker 1: same time. And that's one of the downsides. Like if

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Speaker 1: you were to try to save up for a home

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Speaker 1: and cash, guess what that's it's going to take you

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Speaker 1: like twenty thirty years. Probably it's just to save up

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Speaker 1: enough money. All the while you're missing out on all

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Speaker 1: the other things that you want to be able to

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Speaker 1: do with your money. So the same is true in

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Speaker 1: reverse as well. If you already have the mortgage, why

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Speaker 1: would you eliminate this more sooner than you needed to,

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Speaker 1: assuming you've got other goals and they want to achieve.

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Speaker 2: I think some people might say, oh, it makes it

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Speaker 2: sound like we love debt and it's like keep your

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Speaker 2: mortgage debt around as long as possible. And it's not

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Speaker 2: because we love mortgage debt in and of itself. It's

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Speaker 2: because we highly value other goals. And we were talking

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Speaker 2: about optimizing your finances, being able to take advantage of

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Speaker 2: roth Ira contributions in max and not that account, being

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Speaker 2: able to take full advantage of your employer match and

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Speaker 2: your retirement account there, and saving and investing for other

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Speaker 2: goals you might have, like if your mortgage is reasonable,

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Speaker 2: like then yeah, you can do both at the same time.

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Speaker 1: Yeah, future goals too, because like right now, Brock, you're

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Speaker 1: probably thinking, well, no, I don't, there's not anything else

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Speaker 1: I want to do with my money. But just wait

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Speaker 1: a year or two. Like, there's always different things that

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Speaker 1: come up, different goals that you might like, different places

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Speaker 1: you want to go, different organizations you want to give to,

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Speaker 1: different businesses you might want to start. There are goals

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Speaker 1: that you don't have right now that I guarantee you're

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Speaker 1: going to have in like four or five years, and

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Speaker 1: you're going to think, man, I kind of wish I

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Speaker 1: had the money on hand to be, yeah, to be

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Speaker 1: able to do that without taking out a business loan

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Speaker 1: or something that maybe you would feel a little more

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Speaker 1: inclined to take on. Or it might even be an

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Speaker 1: opportunity that passes you by because you don't have the

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Speaker 1: wiggle room within your budget to be able to pull

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Speaker 1: something like that off. So it gives you options.

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Speaker 2: Liquidity is just an underrated thing in personal finance. And

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Speaker 2: if that liquidity isn't costing you a lot of money

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Speaker 2: because you're getting paid pretty well in your high savings

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Speaker 2: accounts and you're investing for your future, and your mortgage

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Speaker 2: rates not all that bad. I value liquidity. I think

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Speaker 2: it's important. That's right, all right, Matt. We got more

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Speaker 2: questions to get to, including the order of operations for

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Speaker 2: retirement accounts, we'll talk about charitable giving as well. Get

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Speaker 2: to that and more right after this.

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Speaker 1: All right, buddy, we are back from the break. We're

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Speaker 1: going to hear from a listener who has one of

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Speaker 1: those rare pensions out there, but it's not enough. He

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Speaker 1: wants to invest more. We'll get to that one here

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Speaker 1: in a second, but first let's hear from a listener

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Speaker 1: who's looking to be a bit more charitable with his dollars.

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Speaker 3: Hey, guys, this is Austin from Alabama. I'm not sure

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Speaker 3: if you've done a deep dive episode on Dinner advised funds,

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Speaker 3: but I have a couple of questions about them, if

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Speaker 3: you can point me in the right direction. I've looked

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Speaker 3: at both Daffy and Fidelity Charitable and both seem to

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Speaker 3: offer good investment options. It seems like you don't lose

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Speaker 3: any value of your tax deduction if the investments within

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Speaker 3: the fund lose value. But do you gain extra tax

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Speaker 3: deduction benefits if the value of the investments grow past

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Speaker 3: what they were when you initially made them. Donation to

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Speaker 3: the accoun out I know the charity you donate to

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Speaker 3: gets the benefit of growth with a hopefully lesser initial

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Speaker 3: donation to the account. Just not sure if you the

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Speaker 3: customer also get extra tax deduction benefits from the games

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Speaker 3: of the investments.

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Speaker 1: I hope you have a good day. Thanks. Austin wants

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Speaker 1: all the tax deductions, Matt, Yeah, he's like the duck

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Speaker 1: mane con more. This thing's gone up well.

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Speaker 2: And yeah, we'll get all into your specific question, Austin,

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Speaker 2: but also just kind of we'll talk generically about donor

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Speaker 2: advice funds as well, because we we are I think

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Speaker 2: over the past few years you and I have come

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Speaker 2: around more and more and more on these donor advice

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Speaker 2: funds for many reasons that we'll get into in the

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Speaker 2: answer to this question. And I don't remember actually if

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Speaker 2: we've done a full episode on it. I know we've

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Speaker 2: done ones about charitable giving, and so donor buce funds

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Speaker 2: certainly made a big contribution to those episodes.

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Speaker 1: And when we talked to Adam Nash's right, we spent

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Speaker 1: a good amount. We'll linked to that episode in the show.

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Speaker 1: That's for this episode as well, but we talked about

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Speaker 1: donor advice funds the CEO of our favorite Okay, well,

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Speaker 1: speaking of Daffy dot org four slash voices for Good

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Speaker 1: Tomorrow Okay, so I should specifically say December second is

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Speaker 1: the last day to donate to the How to Money charities.

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Speaker 1: We're going head to.

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Speaker 2: Head with a bunch of other we're also matching pod countations.

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Speaker 2: So yeah, if you like to give but you also

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Speaker 2: like it.

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Speaker 1: We're putting our money where our mouth.

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Speaker 2: Is forced us to give simultaneously.

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Speaker 1: And our mouths are in your ears. So that's right,

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Speaker 1: Which means does that mean we're putting our money in

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Speaker 1: your ears?

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Speaker 5: Now?

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Speaker 1: Yeah, something like that. Is that a literal translation? I

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Speaker 1: think it works like that.

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Speaker 2: But yeah, we'd love it if you would partner with

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Speaker 2: us and giving this some of our favorite nonprofits and

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Speaker 2: kind of doubling the effect.

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Speaker 1: While also out giving some of the other iHeart podcasts

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Speaker 1: out there who are perfectly fine, some decent shows, but

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Speaker 1: I would love for us to be able to with them.

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Speaker 2: Agreed me too, So okay, he mentioned two great options, right,

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Speaker 2: was it Daffian Fidelity that he mentioned specifically?

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Speaker 1: Yeah in the question.

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Speaker 2: Vanguard's also good some of the best low cost choices

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Speaker 2: for donor buys funds. So if you're like, we're to like,

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Speaker 2: go to open one, well, and we'll tell you why

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Speaker 2: we would consider Donorvius one two in a second. But

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Speaker 2: we think of all those three and you typically hear

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Speaker 2: us when we're talking about investing. Fidelity and Vanguard are

436
00:20:12,119 --> 00:20:14,240
Speaker 2: the ones we talk about all the time like they're

437
00:20:14,600 --> 00:20:17,200
Speaker 2: the best of the bunch. They're incredibly low cost. But

438
00:20:17,240 --> 00:20:19,639
Speaker 2: when it comes to donor buce ones, actually somebody has

439
00:20:19,680 --> 00:20:24,240
Speaker 2: beaten them, and that is Daffy. So kind of crazy

440
00:20:24,240 --> 00:20:27,119
Speaker 2: to think that, like Vanguard and Fidelity are not the

441
00:20:27,160 --> 00:20:32,440
Speaker 2: best in this space at least. So Daffy has fees,

442
00:20:32,480 --> 00:20:34,520
Speaker 2: And we actually wrote an article on our website about

443
00:20:34,560 --> 00:20:37,520
Speaker 2: Daffi then, and when we're looking at the data, we

444
00:20:37,560 --> 00:20:40,240
Speaker 2: will link to that as well. Yes, something like thirteen

445
00:20:40,359 --> 00:20:43,199
Speaker 2: times lower fees depending on your account balance, Like it

446
00:20:43,200 --> 00:20:46,320
Speaker 2: could be more or less if you go with Daffi

447
00:20:46,440 --> 00:20:50,119
Speaker 2: versus Vanguarden Fidelity and Vanguarden Fidelity. While they're awesome for

448
00:20:50,240 --> 00:20:53,160
Speaker 2: low cost investment choices, they're fees on donor avice ones

449
00:20:53,200 --> 00:20:56,200
Speaker 2: are still higher. They're less than most of the rest

450
00:20:56,200 --> 00:20:58,400
Speaker 2: of the donor biased onund space, but these.

451
00:20:58,240 --> 00:21:01,000
Speaker 1: It's a different it's a completely different feast us well, right,

452
00:21:01,040 --> 00:21:03,080
Speaker 1: because I mean as far as the last time I checked,

453
00:21:03,359 --> 00:21:06,480
Speaker 1: they charge like more of assets under management sort of approached,

454
00:21:06,480 --> 00:21:08,520
Speaker 1: so it's like point six percent or yeah, point five

455
00:21:08,560 --> 00:21:11,440
Speaker 1: point six percent, which and that's what's so great about

456
00:21:11,520 --> 00:21:13,800
Speaker 1: Daffy is just like a flat fee. I love the

457
00:21:13,840 --> 00:21:16,800
Speaker 1: simplicity three bucks of a flat fee three bucks a month,

458
00:21:17,160 --> 00:21:20,320
Speaker 1: and the underlying investments are incredibly low costs as well.

459
00:21:20,400 --> 00:21:24,439
Speaker 1: Oh and by the way, there's expense ratio on the

460
00:21:24,480 --> 00:21:26,360
Speaker 1: total stock I actually checked out recently.

461
00:21:26,400 --> 00:21:29,879
Speaker 2: And if you care about site infrastructure, an app that

462
00:21:29,960 --> 00:21:33,040
Speaker 2: makes it easy to donate and like gamify as the

463
00:21:33,080 --> 00:21:35,600
Speaker 2: whole process. Daffie does a great job at that too.

464
00:21:35,640 --> 00:21:37,840
Speaker 2: And donor Ofvice Funds, Matt, that you really used to

465
00:21:37,880 --> 00:21:40,720
Speaker 2: be for rich folks and Vanguard and Fideli. They lowered

466
00:21:40,760 --> 00:21:43,679
Speaker 2: the costs some, but they're just they're not anymore. That

467
00:21:43,720 --> 00:21:45,840
Speaker 2: was one of the biggest hurdles to using donor Avice

468
00:21:45,840 --> 00:21:48,520
Speaker 2: Funds was like, well, the fees probably not gonn outweigh it.

469
00:21:48,560 --> 00:21:52,600
Speaker 2: For small time donors, like normal average people who listen

470
00:21:52,760 --> 00:21:54,200
Speaker 2: to how to Money, it's like, yeah, I want to

471
00:21:54,240 --> 00:21:57,800
Speaker 2: donate maybe like hundreds thousands of dollars in a year,

472
00:21:58,000 --> 00:22:00,199
Speaker 2: but I'm not donating like six figures. And that is

473
00:22:00,200 --> 00:22:03,560
Speaker 2: typically what made sense back in the way donor advice

474
00:22:03,560 --> 00:22:05,320
Speaker 2: funds used to be structured, but Daffi's kind of really

475
00:22:05,359 --> 00:22:08,400
Speaker 2: changed that. Now it's widely accessible to everyone listening.

476
00:22:08,520 --> 00:22:11,640
Speaker 1: Totally. Yeah, Basically, what Robinhood did to investing is what

477
00:22:11,760 --> 00:22:15,560
Speaker 1: Daffy did to charitable giving with donor advised funds. And

478
00:22:15,680 --> 00:22:18,159
Speaker 1: he's asking though, whether or not he gets an extra

479
00:22:18,400 --> 00:22:21,480
Speaker 1: tax benefit. Now, if your investment grows inside of your

480
00:22:21,520 --> 00:22:25,520
Speaker 1: donor advice fund and then you donate from that increased amount,

481
00:22:25,880 --> 00:22:28,320
Speaker 1: you don't that doesn't matter when it comes to the

482
00:22:28,359 --> 00:22:31,159
Speaker 1: deduction that you get in the year that you donate

483
00:22:31,240 --> 00:22:34,720
Speaker 1: to that donor advised fund. You only get that tax

484
00:22:34,760 --> 00:22:37,240
Speaker 1: donation based on what you initially put in. So let's

485
00:22:37,280 --> 00:22:39,600
Speaker 1: say you put in ten thousand dollars and it grows

486
00:22:39,640 --> 00:22:41,800
Speaker 1: to twelve thousand dollars and then you give away that

487
00:22:42,080 --> 00:22:44,720
Speaker 1: full twelve thousand dollars, you're still only getting a ten

488
00:22:44,760 --> 00:22:48,600
Speaker 1: thousand dollars tax deduction. So that's just that's basically how

489
00:22:48,600 --> 00:22:52,080
Speaker 1: that works. Essentially, this maybe this is helpful, a helpful

490
00:22:52,080 --> 00:22:54,679
Speaker 1: way to think about it. A donor advice fund is

491
00:22:54,920 --> 00:22:58,720
Speaker 1: managed by five oh one C three itself, and so

492
00:22:58,800 --> 00:23:01,880
Speaker 1: you are making an atribution to that organization. That's why

493
00:23:01,960 --> 00:23:04,720
Speaker 1: you get the tax deduction in that year. It's just

494
00:23:04,760 --> 00:23:06,720
Speaker 1: that they then get to hang on to your funds

495
00:23:06,760 --> 00:23:09,239
Speaker 1: and they you advise as to where those dollars go.

496
00:23:09,680 --> 00:23:12,159
Speaker 1: It's they're sort of like a middle man. Yeah, the

497
00:23:12,359 --> 00:23:15,000
Speaker 1: money is sitting there. You get to and decide where

498
00:23:15,000 --> 00:23:16,480
Speaker 1: it is you want to send that out a later date.

499
00:23:16,600 --> 00:23:17,680
Speaker 1: That's right. Yeah.

500
00:23:17,720 --> 00:23:19,679
Speaker 2: And the interesting thing is, Matt, like you mentioned the

501
00:23:19,720 --> 00:23:22,520
Speaker 2: growth of the fund, you can't and people slice this

502
00:23:22,680 --> 00:23:25,440
Speaker 2: up all sorts of different ways. You can give ten

503
00:23:25,520 --> 00:23:29,360
Speaker 2: thousand in the year twenty twenty five and not donate

504
00:23:29,480 --> 00:23:32,800
Speaker 2: a time from your donor advised fund until twenty thirty five, right,

505
00:23:32,840 --> 00:23:34,760
Speaker 2: and you might have twenty five thousand dollars in that

506
00:23:34,760 --> 00:23:37,080
Speaker 2: account at that point. You still you got the deduction

507
00:23:37,240 --> 00:23:39,200
Speaker 2: in the year that you put the ten thousand dollars

508
00:23:39,240 --> 00:23:42,240
Speaker 2: in though, and there is no additional tax deduction based

509
00:23:42,280 --> 00:23:44,000
Speaker 2: on the growth of that fund.

510
00:23:43,840 --> 00:23:46,360
Speaker 1: Based on the growth or the later giving right as

511
00:23:46,359 --> 00:23:48,800
Speaker 1: to where it is you allot those this funds.

512
00:23:48,840 --> 00:23:50,480
Speaker 2: And that is one of the really cool things about

513
00:23:50,520 --> 00:23:52,880
Speaker 2: donor advised funds, but it also is one of the

514
00:23:52,920 --> 00:23:56,320
Speaker 2: potential downsides that people have discussed as well that it

515
00:23:56,359 --> 00:23:59,080
Speaker 2: can lead to people kind of taking that, oh, I

516
00:23:59,119 --> 00:24:01,480
Speaker 2: want to grow this nest egg for future giving, but

517
00:24:01,600 --> 00:24:05,520
Speaker 2: not actually giving those dollars for many years or potentially decades.

518
00:24:05,880 --> 00:24:07,639
Speaker 2: And some people see that as a downside, and I

519
00:24:08,560 --> 00:24:11,359
Speaker 2: tend to agree. They're like, I have like a both

520
00:24:11,359 --> 00:24:13,200
Speaker 2: and approach. I like the idea of putting money in

521
00:24:13,240 --> 00:24:15,760
Speaker 2: my donor advice fund to give it this year and

522
00:24:15,840 --> 00:24:18,760
Speaker 2: next year, and then also growing some of that for

523
00:24:19,000 --> 00:24:21,440
Speaker 2: future bigger contributions I want to make down the road.

524
00:24:21,560 --> 00:24:24,159
Speaker 1: Yeah, it is. It is something that I'm personally wrestling

525
00:24:24,160 --> 00:24:26,159
Speaker 1: with as well, the fact that there's a part of

526
00:24:26,200 --> 00:24:28,720
Speaker 1: me that knows that any dollar I hang on to

527
00:24:28,880 --> 00:24:31,480
Speaker 1: now is not going to an organization that then allows

528
00:24:31,520 --> 00:24:33,320
Speaker 1: them to do good with that money. Yeah. And I

529
00:24:33,359 --> 00:24:35,520
Speaker 1: think it's something like two hundred and fifty billion dollars

530
00:24:35,880 --> 00:24:39,000
Speaker 1: that is currently sitting in donors advised funds. Wow, that

531
00:24:39,040 --> 00:24:40,840
Speaker 1: there are a lot of nonprofits who are saying, oh

532
00:24:40,920 --> 00:24:43,680
Speaker 1: my gosh, it'd be nice if I could we could

533
00:24:43,680 --> 00:24:46,119
Speaker 1: get our hands on just a little portion of some

534
00:24:46,160 --> 00:24:48,639
Speaker 1: of those dollars. I think that's in the in the US.

535
00:24:48,720 --> 00:24:51,520
Speaker 1: And so, while yes, it's a good thing that it

536
00:24:51,680 --> 00:24:54,600
Speaker 1: gets some of those dollars, those taxable dollars out of

537
00:24:54,600 --> 00:24:58,240
Speaker 1: your tax return essentially as an individual. And while it's

538
00:24:58,240 --> 00:24:59,679
Speaker 1: I guess good that you don't have to decide right

539
00:24:59,760 --> 00:25:01,720
Speaker 1: then there where all that money is going to go,

540
00:25:02,400 --> 00:25:05,480
Speaker 1: the deferral of that decision making process can lead to

541
00:25:05,560 --> 00:25:08,119
Speaker 1: that money just sitting there and amassing into this like

542
00:25:08,200 --> 00:25:10,359
Speaker 1: giant five O, one C three nest egg, you know,

543
00:25:10,440 --> 00:25:12,600
Speaker 1: like it still kind of almost feels like a retirement account.

544
00:25:12,840 --> 00:25:14,119
Speaker 1: Like I think it would be easy for a lot

545
00:25:14,160 --> 00:25:16,679
Speaker 1: of how money listeners to enter into that. Oh I

546
00:25:16,720 --> 00:25:20,040
Speaker 1: need to grow this as large as possible while not

547
00:25:20,080 --> 00:25:22,600
Speaker 1: looking at the immediate need in the world today one

548
00:25:22,640 --> 00:25:24,639
Speaker 1: hundred percent. Yeah, And that's why I really like the

549
00:25:24,640 --> 00:25:27,560
Speaker 1: idea of doing both. I think of both mostly as

550
00:25:27,600 --> 00:25:31,520
Speaker 1: a way to streamline my giving, which I think it's

551
00:25:31,560 --> 00:25:33,600
Speaker 1: an underrated perk of the donor Avice fund. Is it

552
00:25:33,640 --> 00:25:36,879
Speaker 1: You minimize your paperwork, right, It's so easy? Yes, I

553
00:25:36,960 --> 00:25:38,760
Speaker 1: mean I love that, And then that is like truly

554
00:25:38,800 --> 00:25:41,719
Speaker 1: one of the coolest things is instead of getting a

555
00:25:41,760 --> 00:25:45,760
Speaker 1: tax receipt from every single nonprofit that you donate directly too,

556
00:25:46,200 --> 00:25:49,040
Speaker 1: you get all your fund giving is funneled through one

557
00:25:49,160 --> 00:25:52,760
Speaker 1: specific channel, through your donor advice fund, and so you

558
00:25:52,800 --> 00:25:55,240
Speaker 1: don't have to keep up with all those year end receipts.

559
00:25:55,640 --> 00:25:57,680
Speaker 1: Everything is in one place if you have a donor

560
00:25:57,720 --> 00:26:00,600
Speaker 1: advice fund and you use it as your central giving hub,

561
00:26:00,600 --> 00:26:04,520
Speaker 1: and it just makes tax time so much easier. That

562
00:26:04,600 --> 00:26:06,960
Speaker 1: was one of those things where I was like, yeah,

563
00:26:06,960 --> 00:26:08,879
Speaker 1: maybe that'll be a nice perk, but it's been one

564
00:26:08,880 --> 00:26:12,080
Speaker 1: of my favorite things. It's so nice if you are

565
00:26:12,160 --> 00:26:14,800
Speaker 1: itemizing your deductions yea, to not have to wait on

566
00:26:14,880 --> 00:26:17,040
Speaker 1: all of those charitable receipts to come in. When you're

567
00:26:17,040 --> 00:26:19,600
Speaker 1: getting all your documents together. It puts a smile on

568
00:26:19,640 --> 00:26:21,800
Speaker 1: my face to know that, like here it is right,

569
00:26:21,880 --> 00:26:25,879
Speaker 1: this one pdf has all that information, not having to

570
00:26:26,040 --> 00:26:27,880
Speaker 1: hunt and peck for all of it. In addition to that, though,

571
00:26:28,160 --> 00:26:30,960
Speaker 1: let's mention two the fact that you can donate appreciated

572
00:26:31,040 --> 00:26:34,960
Speaker 1: assets in order to avoid taxation as well. So, for instance,

573
00:26:35,480 --> 00:26:38,280
Speaker 1: let's say some of your investments have soared in value, Well,

574
00:26:38,280 --> 00:26:41,760
Speaker 1: you can make donations of those inflated assets from your

575
00:26:41,800 --> 00:26:45,040
Speaker 1: taxable brokerage account. That way, you don't have to sell

576
00:26:45,119 --> 00:26:46,960
Speaker 1: those securities and you don't have to pay tax on

577
00:26:47,000 --> 00:26:48,879
Speaker 1: that gain, you don't have to pay capital gains and

578
00:26:48,920 --> 00:26:51,240
Speaker 1: then you're getting a bigger tax break for the donation

579
00:26:51,560 --> 00:26:54,440
Speaker 1: because of that increased value as well. So I think

580
00:26:54,440 --> 00:26:56,600
Speaker 1: for a lot of folks, it's a better idea to

581
00:26:56,760 --> 00:27:00,840
Speaker 1: donate appreciated assets that are outside of any retirement accounts

582
00:27:00,840 --> 00:27:04,240
Speaker 1: than to just donate money from your bank account, because

583
00:27:04,280 --> 00:27:07,560
Speaker 1: then if you want to say, replenish the balance that

584
00:27:07,640 --> 00:27:10,000
Speaker 1: you had there within the tax taxable brokerage, well, then

585
00:27:10,000 --> 00:27:12,520
Speaker 1: invest those dollars. But you are certainly going to come

586
00:27:12,560 --> 00:27:16,640
Speaker 1: out ahead from a tax standpoint by donating appreciated assets. Yeah.

587
00:27:16,680 --> 00:27:19,200
Speaker 2: So not Yeah, you're not paying the capital gains tax,

588
00:27:19,240 --> 00:27:21,600
Speaker 2: and you're also getting the tax deduction for the donation

589
00:27:21,720 --> 00:27:24,520
Speaker 2: you made, which is kind of beautiful tax planning on

590
00:27:24,600 --> 00:27:25,159
Speaker 2: two fronts.

591
00:27:25,480 --> 00:27:26,400
Speaker 1: And I've done that, Matt.

592
00:27:26,440 --> 00:27:29,199
Speaker 2: I did donated some bitcoin that I had in the

593
00:27:29,280 --> 00:27:30,240
Speaker 2: probihood account.

594
00:27:30,400 --> 00:27:34,679
Speaker 1: Yeah, and so done. Bitcoin did a little bit of

595
00:27:34,720 --> 00:27:36,200
Speaker 1: ethereumer this year.

596
00:27:36,040 --> 00:27:39,840
Speaker 2: Back when, back when like big crypto was essentially at

597
00:27:40,000 --> 00:27:42,000
Speaker 2: ridiculous all time highs, I was like, well, I have

598
00:27:42,480 --> 00:27:44,480
Speaker 2: more exposure than I want in this and so the

599
00:27:44,520 --> 00:27:47,000
Speaker 2: perfect way to get rid of some is to donate

600
00:27:47,000 --> 00:27:48,840
Speaker 2: it put it into my donor advice fund, and that

601
00:27:49,000 --> 00:27:52,200
Speaker 2: was that's a great way to kind of avoid some taxation.

602
00:27:52,359 --> 00:27:54,480
Speaker 2: I didn't want to like sell it to rebalance, but

603
00:27:54,600 --> 00:27:56,600
Speaker 2: giving it away to my donor advice fund and avoiding

604
00:27:56,640 --> 00:27:59,560
Speaker 2: tax in that way and putting more money towards giving it.

605
00:27:59,520 --> 00:28:01,320
Speaker 1: Was like, that's a and win. That's how you do it. Man.

606
00:28:01,600 --> 00:28:04,760
Speaker 2: That's really cool. And Robinhood and Daffy also work really

607
00:28:04,800 --> 00:28:07,880
Speaker 2: well together. They make it pretty seamless, especially on the crypto.

608
00:28:08,280 --> 00:28:10,480
Speaker 2: On the crypto front, I'm hoping I'm hoping they get

609
00:28:10,480 --> 00:28:13,720
Speaker 2: better at the single stock donation front. I agree from

610
00:28:13,840 --> 00:28:15,840
Speaker 2: I'm with you, Robinhood or Daffy. That would be like,

611
00:28:16,240 --> 00:28:18,480
Speaker 2: that's on my Christmas special list. All right, let's get

612
00:28:18,480 --> 00:28:22,159
Speaker 2: to another question. This one is specifically about order of

613
00:28:22,200 --> 00:28:24,520
Speaker 2: operations for retirement accounts.

614
00:28:24,760 --> 00:28:26,800
Speaker 5: Hi, Matt and Joel. My name is also Matt. I

615
00:28:26,840 --> 00:28:29,560
Speaker 5: am from s Grant, Pennsylvania. I had a question about

616
00:28:29,600 --> 00:28:32,520
Speaker 5: retirement accounts. Right now, I can contribute to a pension.

617
00:28:33,160 --> 00:28:35,800
Speaker 5: I contribute about six point two five percent of my

618
00:28:35,920 --> 00:28:40,360
Speaker 5: pay to the pension. I also have been contributing to

619
00:28:40,400 --> 00:28:42,640
Speaker 5: one hundred and fifty one hundred and fifty dollars a

620
00:28:42,640 --> 00:28:46,680
Speaker 5: month to a roth IRA to Fidelity. My employer does

621
00:28:46,760 --> 00:28:51,280
Speaker 5: offer a deferred compensation plan or four fifty seven. It's

622
00:28:51,320 --> 00:28:56,480
Speaker 5: both the traditional and the ROTH four fifty seven. I

623
00:28:56,520 --> 00:29:00,520
Speaker 5: can never understand the difference between a RAP DIRA in

624
00:29:00,600 --> 00:29:04,600
Speaker 5: the four fifty seven. Am I off contributing to the

625
00:29:04,720 --> 00:29:10,880
Speaker 5: roth IRA through Fidelity or either the traditional or ROTH

626
00:29:11,200 --> 00:29:15,600
Speaker 5: for fifty seven, which my employer offers. If this information

627
00:29:15,760 --> 00:29:20,680
Speaker 5: does matter, I'm just turned forty years old. I've I

628
00:29:20,880 --> 00:29:24,360
Speaker 5: work on to state government. I've been working for the

629
00:29:24,440 --> 00:29:28,920
Speaker 5: state for approximately ten years. Right now, I don't currently

630
00:29:28,960 --> 00:29:31,400
Speaker 5: have the funds to contribute more than one hundred and

631
00:29:31,400 --> 00:29:34,600
Speaker 5: fifty dollars a month, but I do plan on contributing

632
00:29:34,640 --> 00:29:37,120
Speaker 5: more in the future as I do realize I am

633
00:29:37,280 --> 00:29:41,960
Speaker 5: a little bit behind in retirement savings. Thank you for

634
00:29:42,000 --> 00:29:45,880
Speaker 5: everything you do and I really enjoy the show. Thanks

635
00:29:45,920 --> 00:29:46,320
Speaker 5: a lot.

636
00:29:46,760 --> 00:29:49,720
Speaker 1: R jel So Matt from Scrayton. Is that what he said?

637
00:29:49,840 --> 00:29:51,640
Speaker 1: He's from Scrayton. He says his name was also Matt.

638
00:29:51,720 --> 00:29:53,760
Speaker 1: So he said he's also Matts. And he also said

639
00:29:53,760 --> 00:29:56,840
Speaker 1: he's forty years old, which makes total sense because that's

640
00:29:56,920 --> 00:29:59,400
Speaker 1: when we were all born. In the eighties. Man, so

641
00:29:59,480 --> 00:30:02,560
Speaker 1: many were old Matts. That was peak Matt. I know,

642
00:30:02,600 --> 00:30:04,600
Speaker 1: way too many Matts in the eighties, and it's I'm

643
00:30:04,600 --> 00:30:07,320
Speaker 1: pretty sure it's been downhill ever since then. Yeah, it's

644
00:30:07,360 --> 00:30:08,040
Speaker 1: still a great name.

645
00:30:08,080 --> 00:30:09,880
Speaker 2: Have you thought about changing your name just because it's

646
00:30:09,880 --> 00:30:14,560
Speaker 2: so widely used? Matthew is great, but Maddie Maddie.

647
00:30:14,600 --> 00:30:16,880
Speaker 1: There's a lot of yeah, alt mix. That's why I

648
00:30:16,920 --> 00:30:18,880
Speaker 1: went by a mixed so often as I kid growing up,

649
00:30:18,920 --> 00:30:20,880
Speaker 1: people call you by your last name. Yeah.

650
00:30:20,920 --> 00:30:23,040
Speaker 2: Well, it sounds like Matt's making a lot of progress

651
00:30:23,280 --> 00:30:26,560
Speaker 2: on investing for retirement. He's got the pension that he's funding,

652
00:30:26,600 --> 00:30:28,560
Speaker 2: he wants to do more on top of that. Pensions

653
00:30:28,600 --> 00:30:31,920
Speaker 2: are great, but most of our listeners are probably like,

654
00:30:32,400 --> 00:30:35,000
Speaker 2: what's a pension? Or I remember those things existed, but

655
00:30:35,040 --> 00:30:37,600
Speaker 2: I never had one offered to me. I actually did

656
00:30:37,640 --> 00:30:41,000
Speaker 2: have one offered briefly for a few years, and UH

657
00:30:41,640 --> 00:30:46,240
Speaker 2: was able to work for the state penitentiarydding I wish

658
00:30:46,840 --> 00:30:47,840
Speaker 2: what an interesting job.

659
00:30:48,840 --> 00:30:50,320
Speaker 1: But did you see the article a couple of weeks

660
00:30:50,320 --> 00:30:53,360
Speaker 1: ago about the rise in some of those Oh, yes,

661
00:30:53,480 --> 00:30:55,560
Speaker 1: like state pen Maybe that's why that's.

662
00:30:55,440 --> 00:30:58,640
Speaker 2: What cubicle jobs are declining. More people are going to.

663
00:30:58,760 --> 00:31:00,800
Speaker 1: Just trying to find something to do. So jobs that

664
00:31:00,840 --> 00:31:04,520
Speaker 1: were normally less prestigious, less glamorous are getting a ton

665
00:31:04,600 --> 00:31:06,959
Speaker 1: of applications for those gigs are way up.

666
00:31:07,000 --> 00:31:09,080
Speaker 2: He saw recycling centers being one of them. And I

667
00:31:09,120 --> 00:31:12,240
Speaker 2: met a guy the other day who runs a recycling center.

668
00:31:13,040 --> 00:31:16,560
Speaker 2: His son's on my son's basketball team, and that dude

669
00:31:16,560 --> 00:31:19,920
Speaker 2: has some stories. Let me tell you that some stories.

670
00:31:19,960 --> 00:31:22,680
Speaker 2: I was like, you should start a podcast. I will

671
00:31:22,720 --> 00:31:23,400
Speaker 2: listen to everything.

672
00:31:23,800 --> 00:31:27,479
Speaker 1: Okay, small, I'll continue the tangent before we get on

673
00:31:27,640 --> 00:31:30,720
Speaker 1: with answering the questions. But I was talking to again, Yeah, similarly,

674
00:31:30,800 --> 00:31:35,719
Speaker 1: a fellow dad from school, and he is an insurance

675
00:31:36,000 --> 00:31:39,560
Speaker 1: claim investigator for and he's looking out for false or

676
00:31:39,640 --> 00:31:44,120
Speaker 1: fake fraudulent claims, whether it's home. So his big thing

677
00:31:44,160 --> 00:31:47,320
Speaker 1: was our fires. He's like a fire investigator, and so

678
00:31:47,400 --> 00:31:50,320
Speaker 1: whether it's like vehicle fires, he's like, those are really

679
00:31:50,400 --> 00:31:52,560
Speaker 1: pretty sketchy because you don't want to touch anything while

680
00:31:52,600 --> 00:31:53,760
Speaker 1: you're in there and trying to figure it out. But

681
00:31:53,800 --> 00:31:56,560
Speaker 1: he's like at homes, there's the most fascinating. I'm like, oh,

682
00:31:56,560 --> 00:31:58,280
Speaker 1: how can you always tell? He's just like one of

683
00:31:58,320 --> 00:32:00,600
Speaker 1: the big giveaways is that you can and see where

684
00:32:00,640 --> 00:32:04,000
Speaker 1: the family photos were, but then they've told them because

685
00:32:04,000 --> 00:32:06,720
Speaker 1: that's not something that a lot of times families can replace,

686
00:32:07,320 --> 00:32:10,960
Speaker 1: and so that's oftentimes a sign that it was an

687
00:32:10,960 --> 00:32:13,200
Speaker 1: intentional fire that was started in they're trying to take

688
00:32:13,200 --> 00:32:16,440
Speaker 1: the claim, the insurance claim, and that fascinating. But yeah,

689
00:32:16,440 --> 00:32:18,680
Speaker 1: he was relating a bunch of stories too. I'm just like, man,

690
00:32:18,680 --> 00:32:20,440
Speaker 1: there's so much that you've learned over the years.

691
00:32:20,440 --> 00:32:22,720
Speaker 2: It makes me think that Mike Row, instead of like

692
00:32:22,760 --> 00:32:24,960
Speaker 2: dirty jobs, you should just do like an interesting jobs.

693
00:32:24,760 --> 00:32:26,080
Speaker 1: Podcast, right because they're fascinating.

694
00:32:26,240 --> 00:32:27,920
Speaker 2: Soon you will have interesting jobs and I would love

695
00:32:27,920 --> 00:32:30,520
Speaker 2: to hear more about what they do, because yeah, they're

696
00:32:30,600 --> 00:32:33,240
Speaker 2: probably more interesting in our job. People think podcasting is

697
00:32:33,240 --> 00:32:36,160
Speaker 2: like this really interesting job. Yeah it is interesting. It's fun,

698
00:32:36,240 --> 00:32:37,120
Speaker 2: but I wasn't super fun.

699
00:32:37,120 --> 00:32:38,840
Speaker 1: I don't know how interesting it is. I guess the

700
00:32:38,880 --> 00:32:40,120
Speaker 1: interest comes from and this is why we take a

701
00:32:40,120 --> 00:32:41,880
Speaker 1: loose of their questions that the interest comes from hearing

702
00:32:41,880 --> 00:32:44,600
Speaker 1: from listeners in their unique situations. Honestly, like that to me,

703
00:32:44,640 --> 00:32:47,600
Speaker 1: that's where all the fascination lives.

704
00:32:47,640 --> 00:32:50,200
Speaker 2: But say one more thing real quick about the pension,

705
00:32:50,280 --> 00:32:52,960
Speaker 2: go for it. I want I just want everybody out

706
00:32:52,960 --> 00:32:55,080
Speaker 2: there listening who has a pension to know that that's yeah,

707
00:32:55,120 --> 00:32:58,040
Speaker 2: USA typically not well, that's also just typically not enough.

708
00:32:58,360 --> 00:33:00,640
Speaker 2: Like even when I was working at the job where

709
00:33:00,640 --> 00:33:02,400
Speaker 2: I had the pension, I knew it wasn't going to

710
00:33:02,440 --> 00:33:05,600
Speaker 2: be enough to fund whatever lifestyle I wanted in the future,

711
00:33:05,640 --> 00:33:08,200
Speaker 2: and so investing in addition to the pension. Teachers often

712
00:33:08,200 --> 00:33:11,080
Speaker 2: fall prey to this. We talked about this with Dan

713
00:33:11,280 --> 00:33:14,080
Speaker 2: from four to three of you wis they teachers have

714
00:33:14,120 --> 00:33:16,800
Speaker 2: the ability to retire in style if they're taking the

715
00:33:16,840 --> 00:33:19,640
Speaker 2: both and approach, And so I just want to put

716
00:33:19,640 --> 00:33:22,080
Speaker 2: that out there to everybody who has a pension. It's great,

717
00:33:22,160 --> 00:33:24,560
Speaker 2: it's it's an awesome first step, and not everyone has that,

718
00:33:24,600 --> 00:33:26,040
Speaker 2: But you need to do more than just the pension.

719
00:33:26,120 --> 00:33:28,760
Speaker 1: Yes, one of the legs of that retirement stool. But

720
00:33:28,800 --> 00:33:31,760
Speaker 1: I'm glad that Matt from Scrayton that he is looking

721
00:33:31,800 --> 00:33:34,640
Speaker 1: to the roth Ira. That's almost always going to be

722
00:33:34,640 --> 00:33:37,080
Speaker 1: the best next account to prioritize.

723
00:33:37,120 --> 00:33:38,920
Speaker 2: And part of the reason is that you get to

724
00:33:39,000 --> 00:33:41,920
Speaker 2: choose the brokerage that you're going to do business with.

725
00:33:42,360 --> 00:33:43,680
Speaker 2: We always talk about fidelity.

726
00:33:43,720 --> 00:33:47,840
Speaker 1: They keep costs incredibly incredibly low, but let's say like

727
00:33:47,880 --> 00:33:50,840
Speaker 1: you're kind of comparing and contrasting for fifty seven's and

728
00:33:51,080 --> 00:33:53,960
Speaker 1: roth iras well that four fifty seven through your work.

729
00:33:54,080 --> 00:33:56,560
Speaker 1: Who is that with? Well, I'm not sure, Like you

730
00:33:56,640 --> 00:33:59,920
Speaker 1: might have access to some of those super low cost ETFs.

731
00:34:00,640 --> 00:34:03,760
Speaker 1: But on the other hand, maybe those expense ratios they

732
00:34:03,800 --> 00:34:06,040
Speaker 1: could be a good bit higher, right, Like you could

733
00:34:06,040 --> 00:34:10,920
Speaker 1: be paying instead of zero like some fidelity funds, Like yeah,

734
00:34:11,000 --> 00:34:14,000
Speaker 1: literally zero, This isn't hyperbole. You could be paying Anything

735
00:34:14,040 --> 00:34:17,400
Speaker 1: higher than that is infinitely more. Right. So, given the

736
00:34:17,520 --> 00:34:21,600
Speaker 1: wroth iray's greater level of flexibility, given the greater levels

737
00:34:21,640 --> 00:34:24,479
Speaker 1: of control that you have, that's totally what we would

738
00:34:24,520 --> 00:34:25,319
Speaker 1: be opting for here.

739
00:34:25,400 --> 00:34:28,359
Speaker 2: And that's also because Matt didn't mention having a match

740
00:34:28,400 --> 00:34:30,800
Speaker 2: in his four fifty seven right, So yet another reason

741
00:34:30,840 --> 00:34:33,080
Speaker 2: we'd probably change our minds if your employer were to

742
00:34:33,080 --> 00:34:35,080
Speaker 2: offer a match in addition to the pension, but a

743
00:34:35,120 --> 00:34:37,960
Speaker 2: match for the four to fifty seven contributions, because even

744
00:34:38,000 --> 00:34:41,960
Speaker 2: if the expenses were high, the match would overcome that downside. Yeah,

745
00:34:42,000 --> 00:34:43,799
Speaker 2: the four to fifty seven, it's it's a kin to

746
00:34:43,840 --> 00:34:45,840
Speaker 2: a four to one k, right, it is made available

747
00:34:45,880 --> 00:34:48,160
Speaker 2: to you as an employee. The roth iray, though, is

748
00:34:48,200 --> 00:34:52,120
Speaker 2: available to anyone under the income threshold, So once you

749
00:34:52,120 --> 00:34:54,800
Speaker 2: start making too much money, then you can't contribute to

750
00:34:54,800 --> 00:34:57,560
Speaker 2: a roth ira anymore. And then if that were the case,

751
00:34:57,600 --> 00:34:59,719
Speaker 2: you'd go straight to the four to fifty seven. But

752
00:34:59,800 --> 00:35:03,680
Speaker 2: it also has higher contribution limits, similar to a four

753
00:35:03,719 --> 00:35:05,799
Speaker 2: oh one K, where you can suck in was it

754
00:35:05,840 --> 00:35:07,879
Speaker 2: twenty three dollars this year?

755
00:35:08,280 --> 00:35:08,800
Speaker 1: I believe?

756
00:35:08,960 --> 00:35:13,120
Speaker 2: And but yeah, they also have, similar to those traditional

757
00:35:13,120 --> 00:35:17,440
Speaker 2: retirement accounts, workplace retirement accounts, slightly tighter rules around withdrawals.

758
00:35:17,520 --> 00:35:20,120
Speaker 2: Although the four to fifty seven is typically better than

759
00:35:20,400 --> 00:35:22,879
Speaker 2: a four to one K, and so if you were

760
00:35:23,200 --> 00:35:26,640
Speaker 2: to separate from your employer, the funds are much more

761
00:35:26,719 --> 00:35:29,520
Speaker 2: easily accessible than a four oh one K, But still

762
00:35:29,600 --> 00:35:34,799
Speaker 2: the wroth is the most flexible, the easiest. But yeah,

763
00:35:34,840 --> 00:35:37,359
Speaker 2: you might want to get to eventually filling up both

764
00:35:37,360 --> 00:35:38,440
Speaker 2: would be great, that's right.

765
00:35:38,520 --> 00:35:40,720
Speaker 1: Yeah, and he did mention that his four to fifty

766
00:35:40,719 --> 00:35:43,680
Speaker 1: seven comes in the wroth flavor as well. You get

767
00:35:43,719 --> 00:35:46,760
Speaker 1: your traditional but then you got the Wroth And depending

768
00:35:46,760 --> 00:35:48,880
Speaker 1: on the specifics, they can make a whole lot of sense.

769
00:35:48,960 --> 00:35:51,640
Speaker 1: But again, given the fact that we are not sure

770
00:35:51,760 --> 00:35:55,080
Speaker 1: some of the particulars given your four to fifty seven.

771
00:35:55,440 --> 00:35:57,520
Speaker 1: With that in mind, I think it's a good idea

772
00:35:57,600 --> 00:36:01,480
Speaker 1: to stick with your roth IRA there fidelity, And I

773
00:36:01,520 --> 00:36:04,000
Speaker 1: do think the four to fifty seven makes sense after

774
00:36:04,480 --> 00:36:07,839
Speaker 1: you've maxed out your wroth IRA first, so you're looking

775
00:36:07,880 --> 00:36:10,560
Speaker 1: at seven thousand dollars for twenty twenty five. That increases

776
00:36:10,920 --> 00:36:14,080
Speaker 1: bumps up to seventy five hundred dollars next year. So

777
00:36:14,280 --> 00:36:16,560
Speaker 1: the goal would be to fill that wrath iray bucket

778
00:36:16,640 --> 00:36:19,000
Speaker 1: up first and then move back to contributing to the

779
00:36:19,040 --> 00:36:21,239
Speaker 1: four fifty seven. I think it would be a great

780
00:36:21,280 --> 00:36:23,799
Speaker 1: goal if you hit something like fifteen percent of your

781
00:36:23,840 --> 00:36:27,000
Speaker 1: overall savings rate in the future, but just slowly but

782
00:36:27,040 --> 00:36:30,840
Speaker 1: steadily increasing that amount. And my guess is, honestly, I

783
00:36:30,840 --> 00:36:33,160
Speaker 1: think you will be contributing to the pension. You'll be

784
00:36:33,440 --> 00:36:36,759
Speaker 1: fully funding I'm sure the pension that's required, right, Like

785
00:36:36,800 --> 00:36:39,120
Speaker 1: he's saying six but he said six and a half percent,

786
00:36:39,160 --> 00:36:41,600
Speaker 1: that comes directly out of the paycheck, right, But fully

787
00:36:41,600 --> 00:36:44,720
Speaker 1: funding your roth IRA voluntarily, but then also voluntarily sticking

788
00:36:44,760 --> 00:36:47,759
Speaker 1: even more money into the four to fifty seven as well.

789
00:36:47,800 --> 00:36:50,719
Speaker 1: I think that's going to set Matt in the map

790
00:36:50,760 --> 00:36:52,680
Speaker 1: from Scraton is gonna put him the catbird seat when

791
00:36:52,719 --> 00:36:54,120
Speaker 1: it comes to retirement.

792
00:36:54,200 --> 00:36:56,200
Speaker 2: So those are it's nice to have those next goals.

793
00:36:56,200 --> 00:36:58,160
Speaker 2: Like I still remember when I was starting out investing

794
00:36:58,200 --> 00:37:01,319
Speaker 2: and it was like I was told, oh, masxing out

795
00:37:01,320 --> 00:37:03,120
Speaker 2: the roth Ira is the next goal, and I was like,

796
00:37:03,160 --> 00:37:04,520
Speaker 2: that's going to take me a while, like I don't

797
00:37:04,560 --> 00:37:06,799
Speaker 2: know when I'm gonna get there, And finally hitting that

798
00:37:06,840 --> 00:37:09,359
Speaker 2: point just feels like this momentous occasion and then you're like, oh,

799
00:37:09,440 --> 00:37:12,600
Speaker 2: now now there's another bucket to fill beyond the four

800
00:37:12,640 --> 00:37:14,000
Speaker 2: to one K match. For me, then it was like,

801
00:37:14,080 --> 00:37:15,480
Speaker 2: let me put more of that. Maybe I can get

802
00:37:15,719 --> 00:37:18,080
Speaker 2: up to ten percent of my income in the four

803
00:37:18,120 --> 00:37:20,120
Speaker 2: oh one K. Can I even keep bumping that up?

804
00:37:20,280 --> 00:37:22,200
Speaker 2: And so it feels like this game where you're just

805
00:37:22,239 --> 00:37:25,200
Speaker 2: kind of continually challenging yourself to do more, And so

806
00:37:25,239 --> 00:37:27,920
Speaker 2: I look back on those days with fondness, like where

807
00:37:28,040 --> 00:37:31,600
Speaker 2: it was. It's a fun money challenge to go after.

808
00:37:31,719 --> 00:37:33,560
Speaker 2: And I think Matt's gonna I don't know, I think

809
00:37:33,560 --> 00:37:35,200
Speaker 2: he's gonna make a lot of rapid progress on that.

810
00:37:35,400 --> 00:37:38,000
Speaker 1: Totally agree, But we've got more to get to a

811
00:37:38,040 --> 00:37:41,680
Speaker 1: couple additional listeners including we're gonna hear from a long

812
00:37:41,719 --> 00:37:44,120
Speaker 1: time friend of the show. We'll get to him, and

813
00:37:44,320 --> 00:37:45,520
Speaker 1: one more right after this.

814
00:37:53,120 --> 00:37:55,239
Speaker 2: All right, Matt, we're back. Got more money questions to

815
00:37:55,239 --> 00:37:58,600
Speaker 2: get to. Let's take a question now, specifically about paying

816
00:37:58,640 --> 00:37:59,560
Speaker 2: off a medical bill.

817
00:38:00,160 --> 00:38:03,000
Speaker 6: Joel and Matt. This is Drew from Richmond, Virginia and

818
00:38:03,640 --> 00:38:06,040
Speaker 6: move to improve. I hope you guys are doing well.

819
00:38:06,160 --> 00:38:10,600
Speaker 6: So I have a medical debt question. I, after negotiating,

820
00:38:10,680 --> 00:38:13,480
Speaker 6: trying to get the price down for a while, still

821
00:38:13,560 --> 00:38:15,520
Speaker 6: ended up with a medical bill this year of about

822
00:38:15,560 --> 00:38:18,760
Speaker 6: fifteen hundred bucks, and they put me on a payment

823
00:38:18,800 --> 00:38:21,759
Speaker 6: plan with zero interest. So that's good. You know, best

824
00:38:21,760 --> 00:38:24,279
Speaker 6: case scenario. It's about one hundred and fifty bucks a month,

825
00:38:24,920 --> 00:38:26,600
Speaker 6: and I've been paying that for a few months now.

826
00:38:26,640 --> 00:38:28,640
Speaker 6: But then this month I got a letter in the

827
00:38:28,640 --> 00:38:32,360
Speaker 6: mail that said to call them and if I pay

828
00:38:33,400 --> 00:38:35,480
Speaker 6: by the end of the year in one lump sum,

829
00:38:35,600 --> 00:38:39,240
Speaker 6: they'll give me a thirty percent discount on the remaining balance.

830
00:38:39,960 --> 00:38:42,520
Speaker 6: So there's about one thousand and thirty seven bucks left

831
00:38:42,560 --> 00:38:44,680
Speaker 6: on it, which means it would be around seven hundred

832
00:38:44,680 --> 00:38:46,960
Speaker 6: and twenty five dollars if I paid it in a

833
00:38:47,000 --> 00:38:50,759
Speaker 6: lump sum this month. I don't really have the cash

834
00:38:50,800 --> 00:38:52,960
Speaker 6: at the moment to cover that unless I pull from

835
00:38:53,040 --> 00:38:58,880
Speaker 6: my emergency fund or you know, maybe take on a

836
00:38:58,440 --> 00:39:00,960
Speaker 6: little credit card debt to pay that. And I know

837
00:39:01,040 --> 00:39:03,319
Speaker 6: that's not ideal, but I was asking if you guys

838
00:39:03,360 --> 00:39:05,880
Speaker 6: could help me figure out if it would be worth it.

839
00:39:07,719 --> 00:39:10,319
Speaker 6: I had some emergencies the past year or two, so

840
00:39:10,400 --> 00:39:13,239
Speaker 6: my my emergency fund is only about a month or two.

841
00:39:14,360 --> 00:39:16,440
Speaker 6: So yeah, I wanted to hear you guys thoughts. Is

842
00:39:16,480 --> 00:39:17,960
Speaker 6: it worth it to just try and pay it all

843
00:39:17,960 --> 00:39:20,120
Speaker 6: off this month and then be done with it, get

844
00:39:20,120 --> 00:39:22,439
Speaker 6: a thirty percent discount? Or should I just keep paying

845
00:39:22,440 --> 00:39:24,280
Speaker 6: one hundred and fifty bucks a month for the next

846
00:39:24,360 --> 00:39:25,759
Speaker 6: several months until it's paid off?

847
00:39:25,960 --> 00:39:28,799
Speaker 1: Thanks guys, that's right. So this is Drew, and he

848
00:39:28,880 --> 00:39:33,279
Speaker 1: mentioned move to improve his his newsletter, and I think

849
00:39:33,280 --> 00:39:35,680
Speaker 1: in his last newsletter he actually mentioned the fact that

850
00:39:35,719 --> 00:39:38,839
Speaker 1: he'd gotten laid off, so I'm not sure. I think

851
00:39:38,840 --> 00:39:41,480
Speaker 1: he might be focusing his efforts elsewhere. Yeah, as he's

852
00:39:41,520 --> 00:39:42,239
Speaker 1: trying to maybe right.

853
00:39:42,120 --> 00:39:44,200
Speaker 2: At least he's on hiatus, which yeah, and his news

854
00:39:44,239 --> 00:39:45,399
Speaker 2: are so good, like so.

855
00:39:45,480 --> 00:39:47,239
Speaker 1: I really I really enjoyed it. We'll put a link

856
00:39:47,280 --> 00:39:49,600
Speaker 1: to it in the show notes. Even yeah, let's get

857
00:39:49,640 --> 00:39:52,080
Speaker 1: a bunch of subscribers, because that'll give them more options

858
00:39:52,200 --> 00:39:53,560
Speaker 1: down the road, and maybe he'll be like, oh, I

859
00:39:53,560 --> 00:39:54,239
Speaker 1: do want to fire back.

860
00:39:54,320 --> 00:39:57,600
Speaker 2: It's one of those really like accessible fitness newsletters. So

861
00:39:57,719 --> 00:39:59,480
Speaker 2: because I don't think of myself as like a fitness

862
00:39:59,480 --> 00:40:02,239
Speaker 2: freak anything like that, but it's helpful information that I

863
00:40:03,080 --> 00:40:05,879
Speaker 2: don't want to go full Andrew Huberman, but a nice

864
00:40:06,040 --> 00:40:09,680
Speaker 2: newsletter that breaks down some of those concepts is I appreciate.

865
00:40:09,760 --> 00:40:10,320
Speaker 1: So totally.

866
00:40:10,400 --> 00:40:12,640
Speaker 2: All right, Well, let's get to the heart of this question.

867
00:40:12,680 --> 00:40:15,560
Speaker 2: I mean, the answer partially hinges on whether or not

868
00:40:15,600 --> 00:40:18,040
Speaker 2: you might be able to get forgiveness for this debt.

869
00:40:18,239 --> 00:40:20,000
Speaker 2: You didn't mention anything about that, but I think it's

870
00:40:20,000 --> 00:40:24,200
Speaker 2: worth noting and checking into, because yeah, you've been granted

871
00:40:24,200 --> 00:40:26,640
Speaker 2: a zero percent payment plan, which is nice, but I

872
00:40:26,640 --> 00:40:30,439
Speaker 2: would look up the financial aid eligibility rules because Drew,

873
00:40:30,480 --> 00:40:33,600
Speaker 2: you might find that, depending on your income, you qualify

874
00:40:33,719 --> 00:40:36,120
Speaker 2: for more than just a helpful payment plan, but you

875
00:40:36,200 --> 00:40:40,040
Speaker 2: might qualify for full forgiveness. And your provider they're not

876
00:40:40,080 --> 00:40:42,399
Speaker 2: always going to tell you, hey, what do you make? Okay,

877
00:40:42,440 --> 00:40:46,480
Speaker 2: guess what you actually qualify? For full forgiveness on that

878
00:40:46,520 --> 00:40:49,880
Speaker 2: debt because you don't make enough. You make so what

879
00:40:49,920 --> 00:40:54,040
Speaker 2: it's usually four times the poverty line is often times percent. Yeah,

880
00:40:54,160 --> 00:40:57,239
Speaker 2: that's that's what the hospitals use. So that would be

881
00:40:57,280 --> 00:41:00,000
Speaker 2: a game changer, right, allowing you to get this debt

882
00:41:00,120 --> 00:41:02,959
Speaker 2: off your back without disturbing your e fund at all.

883
00:41:03,600 --> 00:41:06,960
Speaker 2: You often can find the financial aid section on your

884
00:41:06,960 --> 00:41:10,799
Speaker 2: provider's website that outlines the details, because yeah, depending on

885
00:41:10,840 --> 00:41:12,839
Speaker 2: your income, than it'd be nice forgive it in one

886
00:41:12,840 --> 00:41:15,160
Speaker 2: fell swoop. And then it's like who cares about the

887
00:41:15,200 --> 00:41:18,440
Speaker 2: payment plan? Who cares about the discount. It's like unnecessary,

888
00:41:18,520 --> 00:41:20,080
Speaker 2: It's gonna be gone all the way. Yeah, one win,

889
00:41:20,120 --> 00:41:23,280
Speaker 2: get rid of this thing altogether. They the hospital will

890
00:41:23,360 --> 00:41:26,879
Speaker 2: likely require proof, so, for instance, a copy of your

891
00:41:26,880 --> 00:41:29,480
Speaker 2: tax return, but of course, if you meet the income requirements,

892
00:41:29,480 --> 00:41:32,160
Speaker 2: take advantage of that policy. If you don't qualify for

893
00:41:32,920 --> 00:41:35,759
Speaker 2: full or partial forgiveness. The other thing to consider is

894
00:41:35,800 --> 00:41:39,600
Speaker 2: how quickly you'd be able to restock to beef that

895
00:41:39,680 --> 00:41:41,840
Speaker 2: emergency fund back up, because if you can do it

896
00:41:41,880 --> 00:41:45,279
Speaker 2: in a reasonable amount of time, I would take that

897
00:41:45,360 --> 00:41:49,239
Speaker 2: discount and you know, dedicate your resources to getting that

898
00:41:49,280 --> 00:41:52,359
Speaker 2: efund stout again in pretty short order. It's never fun

899
00:41:52,440 --> 00:41:55,480
Speaker 2: to deplete and to have to tap your emergency fund,

900
00:41:56,000 --> 00:41:58,960
Speaker 2: but man, the discount makes it pretty appetizing though, right,

901
00:41:59,000 --> 00:42:02,040
Speaker 2: Like a thirty percent reduction and your bill is awesome.

902
00:42:02,320 --> 00:42:04,799
Speaker 2: And he was even asking about like potentially putting it

903
00:42:04,840 --> 00:42:07,319
Speaker 2: on a credit card as well, and I think that

904
00:42:07,360 --> 00:42:09,480
Speaker 2: could even make sense as well, because most credit cards

905
00:42:09,480 --> 00:42:12,799
Speaker 2: are sitting around twenty percent, and so that essentially buys him.

906
00:42:12,840 --> 00:42:15,279
Speaker 1: And that's twenty percent. That's an apy, right, so you're

907
00:42:15,280 --> 00:42:18,560
Speaker 1: looking at closer to a year's worth of time to

908
00:42:18,640 --> 00:42:21,200
Speaker 1: be able to pay that off while off your credit cards,

909
00:42:21,200 --> 00:42:24,240
Speaker 1: still getting well, still coming out ahead. From a financial standpoint,

910
00:42:24,239 --> 00:42:26,719
Speaker 1: I'm not saying that that's a slim dunk decision, but

911
00:42:27,000 --> 00:42:29,399
Speaker 1: when you are looking at the numbers, that should help

912
00:42:29,480 --> 00:42:31,560
Speaker 1: to inform you whether or not this is like, oh,

913
00:42:31,600 --> 00:42:34,400
Speaker 1: I no, I'm not supposed to do that, but financially speaking,

914
00:42:34,400 --> 00:42:36,800
Speaker 1: looking out the numbers, it could make sense for you.

915
00:42:36,560 --> 00:42:39,080
Speaker 2: And you could even opt for a new credit card

916
00:42:39,160 --> 00:42:42,319
Speaker 2: with a zero percent introductory rate of twelve eighteen months

917
00:42:42,360 --> 00:42:43,799
Speaker 2: something like that, and yeah, you know what, I'm going

918
00:42:43,840 --> 00:42:45,759
Speaker 2: to pay this off in four to five months because

919
00:42:45,760 --> 00:42:48,640
Speaker 2: I don't even want to flirt with that deadline and

920
00:42:48,880 --> 00:42:52,640
Speaker 2: having to pay interest on this sum. But yeah, if

921
00:42:52,640 --> 00:42:55,200
Speaker 2: you can get it for fully forgiven, that's the best.

922
00:42:55,239 --> 00:42:57,200
Speaker 2: But you definitely take advantage of this discounting. If you

923
00:42:57,239 --> 00:42:59,359
Speaker 2: have to put it on a credit card, just make

924
00:42:59,400 --> 00:43:01,319
Speaker 2: sure you have a strategy to pay it off in

925
00:43:01,360 --> 00:43:01,719
Speaker 2: no time.

926
00:43:01,800 --> 00:43:04,400
Speaker 1: Yeah, I would say twelve months or less. And I

927
00:43:04,200 --> 00:43:06,640
Speaker 1: want to mention too. Drew mentioned he came across like

928
00:43:06,719 --> 00:43:09,480
Speaker 1: multiple or several emergencies this year, and for him and

929
00:43:09,600 --> 00:43:12,319
Speaker 1: honestly for other folks out there, this is the time

930
00:43:12,360 --> 00:43:15,680
Speaker 1: of year to reevaluate your budget, to look at some

931
00:43:15,719 --> 00:43:17,719
Speaker 1: of the bigger expenses that came from out of the

932
00:43:17,760 --> 00:43:21,000
Speaker 1: blue ingrained. In this case, it was a medical expense.

933
00:43:21,040 --> 00:43:24,400
Speaker 1: So there are certain medical things that you can't plan for, obviously,

934
00:43:24,960 --> 00:43:27,240
Speaker 1: but there are other things that are a bit more periodic,

935
00:43:27,280 --> 00:43:30,279
Speaker 1: and honestly, even periodic physicals and different things like that

936
00:43:30,920 --> 00:43:35,160
Speaker 1: are can be more schedulable, right, and so creating some

937
00:43:35,200 --> 00:43:37,800
Speaker 1: of these sinking funds because the idea is that fewer

938
00:43:37,840 --> 00:43:41,640
Speaker 1: and fewer expenses as you progress through you on your

939
00:43:41,719 --> 00:43:43,960
Speaker 1: financial journey, Fewer these expenses are coming out of the

940
00:43:43,960 --> 00:43:45,719
Speaker 1: blue providing a shock.

941
00:43:45,520 --> 00:43:47,680
Speaker 2: To your overall budget, no doubt. All right, let's get

942
00:43:47,719 --> 00:43:49,480
Speaker 2: to our Facebook question of the week. This one comes

943
00:43:49,520 --> 00:43:52,200
Speaker 2: from anonymous. She says, I'm a single mom with a baby.

944
00:43:52,360 --> 00:43:55,279
Speaker 2: My company automatically provides one hundred thousand dollars in life

945
00:43:55,280 --> 00:43:57,880
Speaker 2: insurance with the option to purchase more. I need to

946
00:43:57,920 --> 00:44:00,520
Speaker 2: decide if I need to buy more now, otherwise I

947
00:44:00,560 --> 00:44:02,720
Speaker 2: could be denied if I try to get it later.

948
00:44:03,080 --> 00:44:05,800
Speaker 2: I have rental properties and a retirement fund. How should

949
00:44:05,800 --> 00:44:08,680
Speaker 2: I decide if additional life insurance coverage is needed?

950
00:44:09,080 --> 00:44:11,520
Speaker 1: Nice not something I ever had. Did you ever you

951
00:44:11,600 --> 00:44:15,680
Speaker 1: had an employer sponsored or employer provided life insurance plan?

952
00:44:15,760 --> 00:44:16,040
Speaker 1: I did.

953
00:44:16,080 --> 00:44:17,960
Speaker 2: It was like one times my salary, or was either

954
00:44:18,000 --> 00:44:19,600
Speaker 2: one or half times my salary. I don't remember what

955
00:44:19,680 --> 00:44:21,759
Speaker 2: it was, but I'd take it. Yeah, it was.

956
00:44:22,040 --> 00:44:24,600
Speaker 1: It was something not bad without having to fork over

957
00:44:24,600 --> 00:44:28,320
Speaker 1: a single dollar. Right. Many companies offer these small amounts,

958
00:44:28,800 --> 00:44:31,320
Speaker 1: but then they then and here's the catch, they allow

959
00:44:31,360 --> 00:44:34,879
Speaker 1: you to buy more life insurance during open enrollment from them.

960
00:44:35,680 --> 00:44:37,600
Speaker 1: But for most healthy folks out there, it doesn't make

961
00:44:37,640 --> 00:44:40,399
Speaker 1: sense to buy more through your company because it's gonna

962
00:44:40,400 --> 00:44:43,040
Speaker 1: be expensive. It's best to shop for a policy on

963
00:44:43,080 --> 00:44:46,400
Speaker 1: the open market, and in large part that's because you

964
00:44:46,440 --> 00:44:49,040
Speaker 1: can take that life insurance with you when you leave

965
00:44:49,040 --> 00:44:52,040
Speaker 1: the job. And so yeah, shop around on the site

966
00:44:52,080 --> 00:44:55,880
Speaker 1: like policy Genius, even Costco even they offer life insurance

967
00:44:55,880 --> 00:44:57,760
Speaker 1: as well. So that's right, I can go to partner

968
00:44:57,800 --> 00:44:59,399
Speaker 1: with a company that offers Yeah, I can go there

969
00:44:59,400 --> 00:45:03,440
Speaker 1: for my she for my tragger pellets, and also for

970
00:45:03,520 --> 00:45:04,439
Speaker 1: my life insurance tool.

971
00:45:04,480 --> 00:45:06,000
Speaker 2: You can get anything you want to cost. Go these

972
00:45:06,120 --> 00:45:08,919
Speaker 2: things well, and I think yeah. The exception would be

973
00:45:09,040 --> 00:45:12,880
Speaker 2: if you have a long history of really tough medical things,

974
00:45:13,440 --> 00:45:15,560
Speaker 2: you might be uninsurable on the open market, and so

975
00:45:15,600 --> 00:45:18,120
Speaker 2: you might thank the good Lord above that you have

976
00:45:18,200 --> 00:45:22,120
Speaker 2: access to life insurance through your employer, because what seems

977
00:45:22,120 --> 00:45:23,880
Speaker 2: like it would be more expensive is actually cheaper for

978
00:45:23,920 --> 00:45:26,080
Speaker 2: you because you can't get it anywhere else. But if

979
00:45:26,120 --> 00:45:28,640
Speaker 2: you're healthy, the truth is, shopping on the open market

980
00:45:28,719 --> 00:45:31,960
Speaker 2: is probably best. We love you have rental properties, right,

981
00:45:32,000 --> 00:45:35,360
Speaker 2: and that you've saved for your future. Really well, it

982
00:45:35,400 --> 00:45:38,080
Speaker 2: sounds like you might be leaning towards self insuring to

983
00:45:38,120 --> 00:45:40,839
Speaker 2: a greater degree because of all the good work you've done,

984
00:45:40,960 --> 00:45:44,280
Speaker 2: and you know, while having more assets, it might indeed

985
00:45:44,360 --> 00:45:47,920
Speaker 2: mean you need less insurance, but so much depends, I think,

986
00:45:47,920 --> 00:45:51,440
Speaker 2: on the liquidity of those assets, because those rental properties

987
00:45:51,480 --> 00:45:54,359
Speaker 2: four one ks, they're not easily liquidated, and you don't

988
00:45:54,400 --> 00:45:56,560
Speaker 2: want to write like that. The whole goal is to

989
00:45:56,800 --> 00:46:00,600
Speaker 2: is to not liquidate those those things. The we don't

990
00:46:00,600 --> 00:46:02,759
Speaker 2: know all your details, but we think you might want

991
00:46:02,800 --> 00:46:05,160
Speaker 2: to consider something like a five hundred thousand dollars or

992
00:46:05,480 --> 00:46:10,560
Speaker 2: a million dollar twenty year level term insurance policy, because yes,

993
00:46:10,600 --> 00:46:12,440
Speaker 2: you're doing the right thing on the investments, but you

994
00:46:12,480 --> 00:46:14,839
Speaker 2: also want to protect your baby, and you want to

995
00:46:14,920 --> 00:46:19,120
Speaker 2: protect those assets as well. And you might hear a

996
00:46:19,120 --> 00:46:22,279
Speaker 2: million dollar policy that's probably expensive, but it's actually not.

997
00:46:22,360 --> 00:46:24,839
Speaker 2: Like if you look at the numbers for a late

998
00:46:24,920 --> 00:46:28,200
Speaker 2: twenties like single female, we're talking twenty five to thirty

999
00:46:28,200 --> 00:46:31,760
Speaker 2: five dollars a month. So shopping around for a policy

1000
00:46:32,239 --> 00:46:35,120
Speaker 2: is I think, especially for someone who's handled their money

1001
00:46:35,160 --> 00:46:38,000
Speaker 2: incredibly well, like this should be a drop in the bucket,

1002
00:46:38,400 --> 00:46:42,799
Speaker 2: a protectionary mechanism that really doesn't cost very much but

1003
00:46:42,840 --> 00:46:44,440
Speaker 2: provides a lot of peace of mind and a lot

1004
00:46:44,440 --> 00:46:45,320
Speaker 2: of financial backstop.

1005
00:46:45,480 --> 00:46:47,399
Speaker 1: That's right. And I don't know if you did this intentionally, Jul,

1006
00:46:47,400 --> 00:46:49,040
Speaker 1: but a twenty year plan makes a lot of sense too,

1007
00:46:49,120 --> 00:46:52,600
Speaker 1: because that baby should be all grows up and a

1008
00:46:52,600 --> 00:46:56,840
Speaker 1: fully functional adult earning their own money. If you're own

1009
00:46:56,880 --> 00:46:59,799
Speaker 1: salary at that point in time. Yeah, maybe thirty year,

1010
00:46:59,840 --> 00:47:02,319
Speaker 1: but yeah, if you're planning to have more kids. But

1011
00:47:02,960 --> 00:47:05,000
Speaker 1: I think you know, paying off those rental properties over

1012
00:47:05,040 --> 00:47:08,000
Speaker 1: time and the rents increasing over the years. I think

1013
00:47:08,280 --> 00:47:11,080
Speaker 1: with that in mind, like you might find that you

1014
00:47:11,080 --> 00:47:14,360
Speaker 1: can kick this term life insurance policy to the curb.

1015
00:47:14,480 --> 00:47:16,840
Speaker 1: And yes, like you were say, angel to fully self ensure,

1016
00:47:17,280 --> 00:47:20,799
Speaker 1: but I'm thinking you're probably not there yet. One additional thing,

1017
00:47:20,840 --> 00:47:23,319
Speaker 1: and this is really important, but make sure that you

1018
00:47:23,360 --> 00:47:27,640
Speaker 1: don't name your baby as the beneficiary of this life

1019
00:47:27,640 --> 00:47:31,160
Speaker 1: insurance policy. If you do, the court controls where that

1020
00:47:31,239 --> 00:47:35,560
Speaker 1: money goes. You go into probate and within a will. Right, like,

1021
00:47:35,600 --> 00:47:37,839
Speaker 1: this is where you're gonna name a guardian to take

1022
00:47:37,880 --> 00:47:40,200
Speaker 1: care of your baby once you are no longer here.

1023
00:47:40,440 --> 00:47:42,520
Speaker 1: But you can also then decide where it is that

1024
00:47:42,680 --> 00:47:45,080
Speaker 1: all of your money your properties go to. But when

1025
00:47:45,120 --> 00:47:47,000
Speaker 1: it comes to this life insurance policy, you're gonna name

1026
00:47:47,040 --> 00:47:51,319
Speaker 1: them that same person. I would think, right, whoever gets

1027
00:47:51,360 --> 00:47:52,840
Speaker 1: your kid, you want them to have the funds to

1028
00:47:52,840 --> 00:47:55,080
Speaker 1: be able to really take care of that kid. But

1029
00:47:55,120 --> 00:48:00,000
Speaker 1: you're gonna name that guardian, that caregiver as the benefit

1030
00:48:00,040 --> 00:48:02,800
Speaker 1: fishiary of this life insurance policy, so that will go

1031
00:48:02,800 --> 00:48:03,719
Speaker 1: go directly to them.

1032
00:48:04,040 --> 00:48:07,040
Speaker 2: Yep, the extra step, but a crucial one, and it's

1033
00:48:07,239 --> 00:48:11,439
Speaker 2: it's one going back to that beneficiary every year or two?

1034
00:48:11,800 --> 00:48:13,960
Speaker 2: Do I have the right person listed? Is it's still

1035
00:48:13,960 --> 00:48:15,839
Speaker 2: the same person that I want my kids to go

1036
00:48:15,880 --> 00:48:18,359
Speaker 2: do We had to revisit that recently, like, Okay, if

1037
00:48:18,400 --> 00:48:19,880
Speaker 2: we die, where do we want our kids to go?

1038
00:48:20,080 --> 00:48:23,080
Speaker 2: And you know, uh so, yeah, those are the kind

1039
00:48:23,120 --> 00:48:25,000
Speaker 2: of things that it's not even just to set it

1040
00:48:25,040 --> 00:48:27,560
Speaker 2: and forget it. Oftentimes those questions have to be revisited

1041
00:48:27,560 --> 00:48:29,799
Speaker 2: over things change. Man, Yeah, or you want to get

1042
00:48:29,800 --> 00:48:31,000
Speaker 2: back to the beer, let's do it.

1043
00:48:31,080 --> 00:48:37,000
Speaker 1: This is an automatic IPA by Creature Comforts Brewing Brewing.

1044
00:48:37,760 --> 00:48:40,320
Speaker 1: And I'll say this used to be called automatic pale

1045
00:48:40,360 --> 00:48:43,120
Speaker 1: al and I thought, so, yeah, have we talked about

1046
00:48:43,120 --> 00:48:44,440
Speaker 1: this on the show before, or maybe it was Kate

1047
00:48:44,440 --> 00:48:45,640
Speaker 1: and I that talked about it?

1048
00:48:45,719 --> 00:48:46,600
Speaker 2: Why did they change it?

1049
00:48:46,680 --> 00:48:50,520
Speaker 1: They cheg so also actually talking to a local brewery

1050
00:48:50,880 --> 00:48:53,520
Speaker 1: owner friend of mine, and I actually asked them the

1051
00:48:53,560 --> 00:48:55,880
Speaker 1: same thing because we're just kind of reminiscing over actually

1052
00:48:55,920 --> 00:48:57,719
Speaker 1: we're reminiscing. We're just talking about stuff that we keep

1053
00:48:57,719 --> 00:48:59,200
Speaker 1: in our fridge all the time, and this is actually

1054
00:48:59,239 --> 00:49:01,480
Speaker 1: a beer that I keep them my fridge, pretty like

1055
00:49:01,520 --> 00:49:03,839
Speaker 1: on the rag. And he said he's pretty sure they

1056
00:49:03,840 --> 00:49:06,160
Speaker 1: did it. Just from a market share standpoint, people know

1057
00:49:06,440 --> 00:49:09,399
Speaker 1: they're looking for i pas whereas pale als just they're

1058
00:49:09,400 --> 00:49:11,840
Speaker 1: just not nearly as popular. I believe it. I believe it. Yeah,

1059
00:49:11,840 --> 00:49:13,440
Speaker 1: so folks see the i pa and they're thinking, oh,

1060
00:49:13,480 --> 00:49:15,960
Speaker 1: that's something that's that's something I'm gonna like, because it

1061
00:49:16,000 --> 00:49:18,319
Speaker 1: was kind of a beefier pale and it was a

1062
00:49:18,360 --> 00:49:20,719
Speaker 1: really it tasted exactly the same. Where what is the

1063
00:49:20,760 --> 00:49:24,239
Speaker 1: line between pale ale and ipa. I mean, it's happiness perhaps, yeah,

1064
00:49:24,280 --> 00:49:25,920
Speaker 1: but it's gravity. I don't know. It's got to be

1065
00:49:25,960 --> 00:49:28,040
Speaker 1: like a gradual gradient like effect.

1066
00:49:28,080 --> 00:49:29,680
Speaker 2: And so, yeah, you can have a paale that tastes

1067
00:49:29,680 --> 00:49:31,120
Speaker 2: like an ipa and an ipa that tasts like a

1068
00:49:31,120 --> 00:49:33,080
Speaker 2: pale because there are somewhere along the.

1069
00:49:33,040 --> 00:49:34,360
Speaker 1: Spect they are very similar.

1070
00:49:34,480 --> 00:49:36,200
Speaker 2: Yeah, it's in the eye of the beholder, I guess.

1071
00:49:36,239 --> 00:49:38,680
Speaker 2: I think so a certain degree. But you like this one, Yeah,

1072
00:49:38,719 --> 00:49:41,160
Speaker 2: it's it's approachable, topy, it's not over the top. It's

1073
00:49:41,160 --> 00:49:44,840
Speaker 2: got this light yellow, strawl like color that I really appreciate.

1074
00:49:45,239 --> 00:49:48,080
Speaker 2: And the description on the can Matt says pillowy, and

1075
00:49:48,120 --> 00:49:50,640
Speaker 2: I will say it is luscious on the tongue, and

1076
00:49:50,800 --> 00:49:54,800
Speaker 2: I do. I appreciate that kind of voluminous feeling.

1077
00:49:54,719 --> 00:49:57,680
Speaker 1: While simultaneously being radiant. Yeah, I feel like that's the

1078
00:49:57,760 --> 00:50:01,880
Speaker 1: adjective that appeals to me, just like that fresh green

1079
00:50:02,440 --> 00:50:04,759
Speaker 1: happiness going on. It's why I always loved it. Loved

1080
00:50:04,800 --> 00:50:06,759
Speaker 1: it as a pale and I think I love it

1081
00:50:06,800 --> 00:50:07,760
Speaker 1: just as much as an ipa.

1082
00:50:07,880 --> 00:50:08,960
Speaker 2: Yeah, I guess, like exactly.

1083
00:50:09,000 --> 00:50:10,600
Speaker 1: I think it's one of my favorite just standard go

1084
00:50:10,640 --> 00:50:13,120
Speaker 1: to beers that Creature Comforts makes. It's such a good one. Yeah,

1085
00:50:13,160 --> 00:50:13,600
Speaker 1: it really is.

1086
00:50:13,680 --> 00:50:16,600
Speaker 2: It's delightful and it's just not as beastly as a

1087
00:50:16,640 --> 00:50:18,480
Speaker 2: lot of the other IPAs that are out there in

1088
00:50:18,560 --> 00:50:21,759
Speaker 2: terms of in terms of alcohol content but also in

1089
00:50:21,840 --> 00:50:25,040
Speaker 2: terms of taste. Sometimes there are just incredibly abrasive and

1090
00:50:25,120 --> 00:50:28,120
Speaker 2: this is nice, casual but delicious.

1091
00:50:27,719 --> 00:50:30,160
Speaker 1: Only six percent. And by the way, it's called Automatic

1092
00:50:30,200 --> 00:50:34,160
Speaker 1: because it's named after Weaver Diese Automatic for the people

1093
00:50:34,160 --> 00:50:37,800
Speaker 1: in Athens Georgia, which is what the RAM album was

1094
00:50:37,880 --> 00:50:42,200
Speaker 1: named after. That same meeting three which have you been to? Yeah?

1095
00:50:42,239 --> 00:50:42,560
Speaker 1: One time?

1096
00:50:42,600 --> 00:50:44,680
Speaker 2: Okay, it was delicious good, but it's not there anymore,

1097
00:50:44,719 --> 00:50:46,880
Speaker 2: is it.

1098
00:50:45,880 --> 00:50:48,600
Speaker 1: Every Actually, it's so funny that you mentioned this some

1099
00:50:49,280 --> 00:50:52,600
Speaker 1: the text reread with me and my former roommates from Uga.

1100
00:50:52,920 --> 00:50:54,640
Speaker 1: The weaver De's was in the news again saying that

1101
00:50:54,680 --> 00:50:56,680
Speaker 1: they're going to close next year, and then one of

1102
00:50:56,719 --> 00:50:58,880
Speaker 1: my other roommates was like, this is a story that

1103
00:50:58,960 --> 00:51:01,279
Speaker 1: comes up every like six years. I don't I think

1104
00:51:01,280 --> 00:51:03,839
Speaker 1: every six years maybe, and it maybe there's a loan

1105
00:51:03,880 --> 00:51:07,520
Speaker 1: that comes due or something like that. Maybe and they

1106
00:51:07,600 --> 00:51:09,440
Speaker 1: reach out to some press, they write a story and

1107
00:51:09,480 --> 00:51:13,200
Speaker 1: maybe they get another influx of customers. In flux the customers,

1108
00:51:13,200 --> 00:51:15,800
Speaker 1: but also maybe an infusion of cash. Who knows. I

1109
00:51:15,800 --> 00:51:18,319
Speaker 1: don't know. We need to go. That's a more cynical take.

1110
00:51:18,560 --> 00:51:21,040
Speaker 1: But no, it's still around, but it sounds like it

1111
00:51:21,080 --> 00:51:23,640
Speaker 1: may not be around for long. For too much longer,

1112
00:51:23,719 --> 00:51:25,719
Speaker 1: visit while you can, maybe not onli Red power bikes

1113
00:51:25,719 --> 00:51:27,600
Speaker 1: where they're like, sorry, guys, this is the end of

1114
00:51:27,600 --> 00:51:32,120
Speaker 1: the road. But yeah, happy, happy riding and enjoy your

1115
00:51:32,160 --> 00:51:34,080
Speaker 1: bikes while you can. Sure all right, that's going to

1116
00:51:34,080 --> 00:51:35,920
Speaker 1: do it for this episode, and if you have a

1117
00:51:35,960 --> 00:51:39,480
Speaker 1: money question, holler at us Matt. Until next time. Best

1118
00:51:39,480 --> 00:51:41,000
Speaker 1: Friends Out, Best Friends Out,