1 00:00:00,120 --> 00:00:02,600 Speaker 1: Welcome to How the Money. I'm Joel and I am 2 00:00:02,640 --> 00:00:25,360 Speaker 1: Matt's and today we are answering your listener questions. Oh yeah, 3 00:00:25,400 --> 00:00:28,120 Speaker 1: that's right, man, We've got listener questions lined up. Today. 4 00:00:28,120 --> 00:00:31,480 Speaker 1: We are answering some questions about fund Rise. Everyone's sort 5 00:00:31,480 --> 00:00:33,600 Speaker 1: of fund rise, right, Yeah, if you haven't, you're gonna 6 00:00:33,600 --> 00:00:35,320 Speaker 1: hear about it today. You'll know what it is as 7 00:00:35,320 --> 00:00:38,320 Speaker 1: longs people know what it is. That's true. Funky Life insurance. 8 00:00:38,320 --> 00:00:40,040 Speaker 1: We've got some of that lined up as well as 9 00:00:40,600 --> 00:00:43,680 Speaker 1: some sustainable investing options for folks, plus a couple other 10 00:00:43,760 --> 00:00:46,800 Speaker 1: questions that we always leave to our listeners imaginations, kind 11 00:00:46,840 --> 00:00:49,360 Speaker 1: of like a mystery grab bag, like mystery flavors, you know, 12 00:00:49,400 --> 00:00:51,360 Speaker 1: like you always get something and just like, hmm, what's 13 00:00:51,360 --> 00:00:52,959 Speaker 1: behind that question? Mark? I don't know, like the old 14 00:00:53,000 --> 00:00:55,440 Speaker 1: school airheads, the white one, the ones in the white package. 15 00:00:56,040 --> 00:00:57,880 Speaker 1: That's right, I totally forgot about that, man. I haven't 16 00:00:57,880 --> 00:01:00,639 Speaker 1: thought about air heads and forever. Uh, let's not think 17 00:01:00,680 --> 00:01:02,520 Speaker 1: about him. Did you not like your heads back in 18 00:01:02,560 --> 00:01:05,000 Speaker 1: the day? But you know not not my favorite candies 19 00:01:05,000 --> 00:01:07,280 Speaker 1: that my favorite candies that I used to get at 20 00:01:07,280 --> 00:01:10,200 Speaker 1: the neighborhood pool as a kid. We go there in 21 00:01:10,240 --> 00:01:12,640 Speaker 1: the summer and you can get the giants sweet tarts. 22 00:01:12,840 --> 00:01:14,920 Speaker 1: You know, talk about like the giant ones that were chewy. 23 00:01:15,280 --> 00:01:17,160 Speaker 1: I feel like we've talked about these on the show before. 24 00:01:17,160 --> 00:01:19,039 Speaker 1: I don't know, but I used to love those things 25 00:01:19,319 --> 00:01:22,120 Speaker 1: that chew. Something about the chew for me is what 26 00:01:22,160 --> 00:01:24,119 Speaker 1: did it? Man? They're so good. But before we get 27 00:01:24,160 --> 00:01:26,200 Speaker 1: to that the candy, we got an episode to make here, 28 00:01:26,240 --> 00:01:27,800 Speaker 1: so that's true. And before we get to the listener 29 00:01:27,880 --> 00:01:30,640 Speaker 1: questions real quick, Matt just wanted to say one we 30 00:01:30,720 --> 00:01:33,160 Speaker 1: love when listeners engaged with the show. There's so many 31 00:01:33,160 --> 00:01:35,840 Speaker 1: ways to do that. The Facebook group is one, Submitting 32 00:01:35,880 --> 00:01:39,080 Speaker 1: your listener question for a future ask htm episode is another. 33 00:01:39,360 --> 00:01:41,520 Speaker 1: And then a third way Matt in which you can 34 00:01:41,560 --> 00:01:44,160 Speaker 1: engage with the show is if you teach a personal 35 00:01:44,200 --> 00:01:47,160 Speaker 1: finance class in high school, you can share this podcast 36 00:01:47,200 --> 00:01:51,279 Speaker 1: with your students. And actually a teacher, a teacher named Greg, 37 00:01:51,560 --> 00:01:54,080 Speaker 1: recently reached out to us via email. He teaches a 38 00:01:54,120 --> 00:01:56,520 Speaker 1: personal finance class at North Central High School and so 39 00:01:56,560 --> 00:01:58,160 Speaker 1: we just want to give a shout out to him 40 00:01:58,200 --> 00:02:01,840 Speaker 1: and to all the kids at nor Central. All the students. 41 00:02:01,920 --> 00:02:05,040 Speaker 1: Yeah they're not kids, these are like high school seniors. Man, 42 00:02:05,080 --> 00:02:07,560 Speaker 1: they're guts. Yeah, yeah, you're right, they are, especially yeah, 43 00:02:07,560 --> 00:02:10,200 Speaker 1: associally if they can fight for us in the wars. Well, 44 00:02:10,240 --> 00:02:12,400 Speaker 1: I just wanted to say thanks to UM, to Greg 45 00:02:12,440 --> 00:02:15,360 Speaker 1: for for sharing our content with with those students, and 46 00:02:15,560 --> 00:02:18,360 Speaker 1: to the students themselves for listening paying attention, and and 47 00:02:18,840 --> 00:02:21,280 Speaker 1: Greg shared with us some of the forms that he 48 00:02:21,360 --> 00:02:26,600 Speaker 1: makes his kids feel out after listening works. Okay, here's 49 00:02:26,600 --> 00:02:28,520 Speaker 1: the question, is like, what did you actually learn anything 50 00:02:28,520 --> 00:02:30,640 Speaker 1: when you listened? And so it makes something critically about 51 00:02:30,639 --> 00:02:33,480 Speaker 1: the information, But it's cool that y'all listened to the show. 52 00:02:33,840 --> 00:02:35,760 Speaker 1: And I don't know that you know our show is 53 00:02:35,919 --> 00:02:39,520 Speaker 1: necessarily worthy of higher education institutions, but the fact that 54 00:02:39,520 --> 00:02:41,440 Speaker 1: it's being used in that way definitely is is humbling 55 00:02:41,440 --> 00:02:43,680 Speaker 1: and pretty cool. I love him, man, Yeah, and maybe 56 00:02:43,680 --> 00:02:45,360 Speaker 1: think two you kept saying Greg, But I guess they 57 00:02:45,360 --> 00:02:48,079 Speaker 1: all call him like Mr. I think it's Wattle litch 58 00:02:48,240 --> 00:02:50,399 Speaker 1: or wait a litch. Okay, but he's also maybe a coach, 59 00:02:50,440 --> 00:02:53,440 Speaker 1: so maybe they call him coach. Maybe they do coach 60 00:02:53,639 --> 00:02:57,400 Speaker 1: w coach Dub Yeah, Mr Dub. Anyway, I mean, I 61 00:02:57,440 --> 00:02:59,240 Speaker 1: think this is amazing too, because I did not have 62 00:02:59,320 --> 00:03:01,679 Speaker 1: personal finding. It's formally taught to me at least in 63 00:03:01,720 --> 00:03:03,400 Speaker 1: high school, right. I mean, these are lessons I learned 64 00:03:03,400 --> 00:03:05,360 Speaker 1: from my parents as a kid growing up. But to 65 00:03:05,440 --> 00:03:09,320 Speaker 1: have this uh formally taught in school is amazing. I 66 00:03:09,360 --> 00:03:11,560 Speaker 1: just imagine how all these students are gonna be. They're 67 00:03:11,560 --> 00:03:14,000 Speaker 1: gonna have a leg up when it comes to them 68 00:03:14,000 --> 00:03:16,840 Speaker 1: getting out there into the real world, whether it's their 69 00:03:16,880 --> 00:03:19,240 Speaker 1: first job or you know, getting out there to college. 70 00:03:19,520 --> 00:03:21,720 Speaker 1: But I love that Mr w that he is doing 71 00:03:21,760 --> 00:03:24,440 Speaker 1: this uh and hopefully too that it maybe encourages other 72 00:03:24,520 --> 00:03:26,480 Speaker 1: educators out there to to to make sure that this 73 00:03:26,560 --> 00:03:28,680 Speaker 1: is something that is being taught in high schools. Yeah. 74 00:03:28,680 --> 00:03:30,280 Speaker 1: And I want to say to anybody else out there 75 00:03:30,320 --> 00:03:33,200 Speaker 1: who maybe uh teaches a personal finance class, man, you're 76 00:03:33,240 --> 00:03:36,520 Speaker 1: you're welcome to use our material, uh. And not that 77 00:03:36,560 --> 00:03:39,440 Speaker 1: it's necessarily the best out there, but anything that's going 78 00:03:39,480 --> 00:03:42,360 Speaker 1: to help connect students to learning the important things they 79 00:03:42,360 --> 00:03:45,040 Speaker 1: need to know about personal finance, man, We're all about that. 80 00:03:45,080 --> 00:03:48,280 Speaker 1: We support that. And man, it actually reminds me of 81 00:03:48,360 --> 00:03:51,040 Speaker 1: episode ninety eight. We talked with Dan LaSalle uh and 82 00:03:51,080 --> 00:03:54,640 Speaker 1: he was a teacher up in Philadelphia, became the vice 83 00:03:54,640 --> 00:03:56,440 Speaker 1: principle of that school I think, and and he was 84 00:03:56,760 --> 00:03:59,480 Speaker 1: making some massive strides when it came to personal finance 85 00:03:59,560 --> 00:04:01,520 Speaker 1: education in his school. Will put a link to that 86 00:04:01,800 --> 00:04:04,000 Speaker 1: episode in the show notes. But I just loved one 87 00:04:04,120 --> 00:04:07,640 Speaker 1: his passion and then to the real world ways in 88 00:04:07,680 --> 00:04:10,560 Speaker 1: which he was introducing the students at his school to 89 00:04:11,000 --> 00:04:13,360 Speaker 1: how personal finances work, when he was putting money in 90 00:04:13,400 --> 00:04:16,640 Speaker 1: their hands to do work to help them learn about 91 00:04:16,680 --> 00:04:20,120 Speaker 1: investing in saving, and that was just really inspirational. Yeah, 92 00:04:20,200 --> 00:04:22,040 Speaker 1: most off. Yeah, so listen back to that episode if 93 00:04:22,040 --> 00:04:23,560 Speaker 1: you have not heard that one, and this is something 94 00:04:23,560 --> 00:04:26,680 Speaker 1: you're interested in. And uh, and again thanks to Mr 95 00:04:26,880 --> 00:04:29,960 Speaker 1: w Up there at North North Central High School. We 96 00:04:30,000 --> 00:04:32,680 Speaker 1: appreciate you reaching out. All right, Matt Less mentioned the 97 00:04:32,680 --> 00:04:34,240 Speaker 1: beer that we're having on the show today. It's called 98 00:04:34,279 --> 00:04:37,120 Speaker 1: cash Flow by Two Tides Brewing. Of course, a beer 99 00:04:37,160 --> 00:04:38,720 Speaker 1: called cash Flow. We gotta we gotta try that. You 100 00:04:38,720 --> 00:04:40,200 Speaker 1: saw that on the shelf and you're like, all right, well, 101 00:04:40,640 --> 00:04:43,280 Speaker 1: definitely gonna happen to have that on Yeah, exactly. So 102 00:04:43,440 --> 00:04:45,160 Speaker 1: we'll talk about what our thoughts on this beer at 103 00:04:45,160 --> 00:04:46,920 Speaker 1: the end of the episode. But of course we're taking 104 00:04:46,920 --> 00:04:49,400 Speaker 1: listener questions on this episode. You can submit yours. Uh, 105 00:04:49,440 --> 00:04:51,480 Speaker 1: they're simple instructions on how to do that at how 106 00:04:51,520 --> 00:04:54,159 Speaker 1: to money dot com slash ask Matt. Let's get to 107 00:04:54,160 --> 00:04:56,080 Speaker 1: the first one. This one is not about short term 108 00:04:56,080 --> 00:04:58,880 Speaker 1: saving goals or retirement saving goals, but where do you 109 00:04:58,880 --> 00:05:02,839 Speaker 1: put money in the medium term? Hi, Ma Angel, this 110 00:05:02,920 --> 00:05:05,120 Speaker 1: is Mackenzie from New York City. This is actually my 111 00:05:05,200 --> 00:05:07,720 Speaker 1: second question that I've submitted, and you helped me out 112 00:05:07,760 --> 00:05:10,640 Speaker 1: with UM the first one at the beginning of the pandemic. 113 00:05:10,720 --> 00:05:12,839 Speaker 1: So I'm really grateful to you and I'm hoping I 114 00:05:12,839 --> 00:05:15,840 Speaker 1: can get your advice on this second question, which is 115 00:05:15,920 --> 00:05:20,440 Speaker 1: thinking about medium term savings goals. So, if I'm thinking 116 00:05:20,440 --> 00:05:23,800 Speaker 1: of buying a house in ten years, should I be 117 00:05:24,000 --> 00:05:28,559 Speaker 1: investing the money that I'm saving towards that goal? And 118 00:05:28,960 --> 00:05:33,160 Speaker 1: if so, UM, what do you recommend for where I 119 00:05:33,160 --> 00:05:36,520 Speaker 1: should be putting that money? Thank you so much. I 120 00:05:36,560 --> 00:05:39,839 Speaker 1: hope that you are well and UM looking forward to 121 00:05:40,160 --> 00:05:43,719 Speaker 1: hearing your answer. Thank you so much. By Hey Mackenzie, 122 00:05:43,720 --> 00:05:46,280 Speaker 1: thanks for sending in another question. We are doing well 123 00:05:46,320 --> 00:05:48,800 Speaker 1: and uh yeah, we hope that you are continuing to 124 00:05:48,839 --> 00:05:51,240 Speaker 1: do well up there in New York City. Uh and 125 00:05:51,600 --> 00:05:53,440 Speaker 1: hopefully we'll also be able to provide you with some 126 00:05:53,520 --> 00:05:56,200 Speaker 1: help with this second question, just like we did last time, 127 00:05:56,480 --> 00:05:59,720 Speaker 1: trying not to screw it up. Uh. So let's talk 128 00:05:59,720 --> 00:06:03,200 Speaker 1: about medium savings goals because they can be tricky. You know, 129 00:06:03,640 --> 00:06:05,680 Speaker 1: so much of what you decide to do with your 130 00:06:05,720 --> 00:06:08,719 Speaker 1: money it comes down to, you know, a specific time frame. 131 00:06:09,200 --> 00:06:10,600 Speaker 1: So if you need that money in the next year 132 00:06:10,640 --> 00:06:12,480 Speaker 1: or two, we would consider this more of a short 133 00:06:12,600 --> 00:06:15,440 Speaker 1: term goal than in this case, a high interest savings 134 00:06:15,440 --> 00:06:17,279 Speaker 1: account is always going to be the best place to 135 00:06:17,320 --> 00:06:20,279 Speaker 1: put that money, even with rates as low as they 136 00:06:20,320 --> 00:06:22,520 Speaker 1: are now. You're not necessarily looking to grow that money, 137 00:06:22,520 --> 00:06:24,080 Speaker 1: but you just want to make sure that you're keeping 138 00:06:24,080 --> 00:06:26,479 Speaker 1: that money safe and earning some interest on it. And 139 00:06:26,480 --> 00:06:28,280 Speaker 1: the reason that you would want to save this money 140 00:06:28,279 --> 00:06:30,640 Speaker 1: instead of investing it is because there's a lot of risk, 141 00:06:31,000 --> 00:06:33,480 Speaker 1: uh in a shorter time period in the stock market. 142 00:06:34,000 --> 00:06:36,400 Speaker 1: But of course there's no risk by putting that money 143 00:06:36,400 --> 00:06:38,920 Speaker 1: in a savings account. And so you know, the more 144 00:06:39,000 --> 00:06:41,200 Speaker 1: distance though, that you have before you want to use 145 00:06:41,240 --> 00:06:44,160 Speaker 1: that money, then the more investing becomes a smart move, 146 00:06:44,440 --> 00:06:46,920 Speaker 1: in large part because a greater time horizon is going 147 00:06:46,960 --> 00:06:50,440 Speaker 1: to diminish the level of risk that you're going to experience. Yeah, 148 00:06:50,480 --> 00:06:52,800 Speaker 1: so when you have a diminished level of risk, when 149 00:06:52,800 --> 00:06:55,560 Speaker 1: you have a time frame we're talking about a decade 150 00:06:55,600 --> 00:06:58,400 Speaker 1: in order to grow this money, mackenzie, you're actually looking 151 00:06:58,400 --> 00:07:00,880 Speaker 1: to grow this money instead of just saving it and 152 00:07:00,920 --> 00:07:03,160 Speaker 1: making sure you don't lose any of that capital. So, 153 00:07:03,200 --> 00:07:05,600 Speaker 1: because your home purchase date is that far off, we 154 00:07:05,640 --> 00:07:08,400 Speaker 1: would definitely encourage you to invest the money that you're 155 00:07:08,400 --> 00:07:11,120 Speaker 1: accruing for that home purchase, don't just save it. When 156 00:07:11,120 --> 00:07:13,680 Speaker 1: you look historically, there have been very few tenure periods 157 00:07:13,720 --> 00:07:16,520 Speaker 1: in the market where the SMP five hundred has had 158 00:07:16,560 --> 00:07:19,680 Speaker 1: a negative return. So you can still feel comfortable I 159 00:07:19,680 --> 00:07:23,240 Speaker 1: think investing in a mostly stock portfolio, when you have 160 00:07:23,280 --> 00:07:26,800 Speaker 1: a timeline that's this long, because your risk level is minuscule, 161 00:07:26,920 --> 00:07:28,720 Speaker 1: you can be confident, I think in your ability to 162 00:07:28,760 --> 00:07:31,320 Speaker 1: get better returns over the piddoly savings rates that your 163 00:07:31,360 --> 00:07:34,200 Speaker 1: bank is offering now again at the most what half 164 00:07:34,240 --> 00:07:36,840 Speaker 1: a percent. So when you have that long of a 165 00:07:36,840 --> 00:07:40,119 Speaker 1: time horizon, I think it's okay to do mostly uh 166 00:07:40,360 --> 00:07:43,240 Speaker 1: equity investing. Yeah, totally, any savings goals that we have 167 00:07:43,320 --> 00:07:45,280 Speaker 1: that's you know that that's ten years in the future 168 00:07:45,400 --> 00:07:49,920 Speaker 1: or beyond, we're totally investing our money in stocks and Mackenzie, 169 00:07:50,240 --> 00:07:52,200 Speaker 1: you know, as far as which vehicle to put the 170 00:07:52,280 --> 00:07:54,760 Speaker 1: money in, you can even you know, invest within a 171 00:07:54,840 --> 00:07:57,040 Speaker 1: roth Ira a uh. In fact, you know, we think 172 00:07:57,040 --> 00:07:58,600 Speaker 1: that that might be one of the best places for 173 00:07:58,600 --> 00:08:00,960 Speaker 1: you to put that money because you can take out 174 00:08:01,160 --> 00:08:03,960 Speaker 1: any of your contributions that you make whenever you want, 175 00:08:04,000 --> 00:08:06,160 Speaker 1: and then you can leave the earnings in there to 176 00:08:06,240 --> 00:08:09,280 Speaker 1: continue to grow towards your retirement. So you can always 177 00:08:09,280 --> 00:08:12,560 Speaker 1: withdraw contributions, right, but if you are buying your first home, 178 00:08:12,600 --> 00:08:15,720 Speaker 1: you can actually avoid paying a penalty on up to 179 00:08:15,760 --> 00:08:19,160 Speaker 1: ten thousand dollars in earnings as well if you were 180 00:08:19,200 --> 00:08:20,840 Speaker 1: to take some of that money out of your roth 181 00:08:20,920 --> 00:08:23,040 Speaker 1: Ira for that first home. Yeah. So the rath i 182 00:08:23,200 --> 00:08:25,960 Speaker 1: Ra just continues to be an excellent flexible vehicle for 183 00:08:26,000 --> 00:08:27,840 Speaker 1: people and we love it. Yeah, And it's just like 184 00:08:27,880 --> 00:08:30,000 Speaker 1: I think it probably the perfect place for Mackenzie to 185 00:08:30,200 --> 00:08:32,920 Speaker 1: be stashing quite a bit of this money that she's 186 00:08:32,960 --> 00:08:35,600 Speaker 1: saving up for a home. And ideally, to Mackenzie, this 187 00:08:35,640 --> 00:08:37,720 Speaker 1: isn't gonna be your only retirement account, because we hate 188 00:08:37,720 --> 00:08:39,960 Speaker 1: to see you completely wipe out all of your retirement 189 00:08:39,960 --> 00:08:42,280 Speaker 1: savings just for a down payment on a house, even 190 00:08:42,280 --> 00:08:45,079 Speaker 1: though that is a big purchase. Hopefully at the same time, 191 00:08:45,080 --> 00:08:47,240 Speaker 1: you've got an employer match that you're able to fully 192 00:08:47,240 --> 00:08:51,160 Speaker 1: participate in, so that you're simultaneously saving for retirement and 193 00:08:51,240 --> 00:08:53,480 Speaker 1: saving for this goal of buying a home and doing 194 00:08:53,520 --> 00:08:55,920 Speaker 1: both of those essentially in tax advantaged accounts. I mean, 195 00:08:56,080 --> 00:08:58,560 Speaker 1: that's a that's a great place to be, yeah, mackenzie. Also, 196 00:08:58,880 --> 00:09:01,800 Speaker 1: we would applaud you for thinking so far into the future, right, Like, 197 00:09:01,840 --> 00:09:03,640 Speaker 1: I mean, you're you're talking about buying a home in 198 00:09:03,640 --> 00:09:06,800 Speaker 1: a decade, in ten years. Very few people are making 199 00:09:06,840 --> 00:09:09,760 Speaker 1: plans for themselves ten ten years from now, you know, 200 00:09:09,840 --> 00:09:12,160 Speaker 1: Like oftentimes when it comes to a home, folks are like, 201 00:09:12,360 --> 00:09:13,880 Speaker 1: oh my gosh, I want a house, and so let 202 00:09:13,960 --> 00:09:15,320 Speaker 1: let's find find a way to buy a house in 203 00:09:15,320 --> 00:09:17,200 Speaker 1: the next year or two years. Maybe next year, but 204 00:09:17,280 --> 00:09:20,560 Speaker 1: maybe next week. But wait, I've only got two percent 205 00:09:20,600 --> 00:09:21,960 Speaker 1: to put down. What do I do. We're gonna make 206 00:09:22,000 --> 00:09:23,559 Speaker 1: it happen no matter what. Right, But the fact that 207 00:09:23,640 --> 00:09:26,559 Speaker 1: McKenzie is planning so far, to me is like admirable 208 00:09:26,600 --> 00:09:28,480 Speaker 1: and it's something that we should all attempt to do 209 00:09:28,520 --> 00:09:31,160 Speaker 1: more frequently, right exactly, And obviously that's gonna put her 210 00:09:31,200 --> 00:09:32,760 Speaker 1: in a better position. She's going to be able to 211 00:09:32,800 --> 00:09:35,480 Speaker 1: put down twenty. That means she's gonna avoid paying private 212 00:09:35,480 --> 00:09:38,200 Speaker 1: mortgage insurance p m I, which is money that you 213 00:09:38,240 --> 00:09:41,599 Speaker 1: are just completely losing. And so yeah, McKenzie, sounds like 214 00:09:41,640 --> 00:09:43,640 Speaker 1: you're doing an awesome job with your finances. We love it, 215 00:09:43,760 --> 00:09:45,960 Speaker 1: and keep us posted. Maybe in ten years or maybe 216 00:09:45,960 --> 00:09:47,720 Speaker 1: even less because you've been able to to save your 217 00:09:47,720 --> 00:09:50,720 Speaker 1: money more quickly, you'll have gotten a home, and yeah, 218 00:09:50,800 --> 00:09:52,480 Speaker 1: let us know how that goes, no doubt. All right, 219 00:09:52,760 --> 00:09:56,120 Speaker 1: we'll still be here, Yes we will. All right. Now, 220 00:09:56,160 --> 00:09:58,559 Speaker 1: let's get to some more questions, including one about funky 221 00:09:58,559 --> 00:10:00,920 Speaker 1: life insurance. We'll get to that question more right after this. 222 00:10:02,040 --> 00:10:11,920 Speaker 1: M alright, we're back from the break and we've said 223 00:10:11,960 --> 00:10:14,920 Speaker 1: funky life insurance now three times if you count it 224 00:10:14,960 --> 00:10:17,080 Speaker 1: just now, and so I want to call it silly 225 00:10:17,120 --> 00:10:19,680 Speaker 1: life insurance. But we'll get to that that question here 226 00:10:19,720 --> 00:10:22,040 Speaker 1: in a second. But first let's talk about some sustainable 227 00:10:22,120 --> 00:10:26,080 Speaker 1: investing options. Let's talk about E s G investing. Hi, Matt, 228 00:10:26,400 --> 00:10:30,640 Speaker 1: Hi Joel, this is hard from New Jersey. First things, first, 229 00:10:30,760 --> 00:10:33,280 Speaker 1: thank you. Your show is fun to listen to and 230 00:10:33,320 --> 00:10:36,680 Speaker 1: the freedom I've attained through a better understanding of personal 231 00:10:36,720 --> 00:10:40,640 Speaker 1: finance has truly chased my life. Now, quick question for you. 232 00:10:41,360 --> 00:10:43,960 Speaker 1: I invest in E s G index funds through my 233 00:10:44,000 --> 00:10:47,320 Speaker 1: broke rache. They have slightly higher expense ratios than the 234 00:10:47,320 --> 00:10:50,160 Speaker 1: comparable non E s G index funds which I also 235 00:10:50,240 --> 00:10:53,840 Speaker 1: invest in. For example, last time I checked the Fidelities 236 00:10:54,160 --> 00:10:59,080 Speaker 1: five hundred index fund as a expense ratio of less 237 00:10:59,120 --> 00:11:04,360 Speaker 1: than ero point zero five pc, while the comparable E 238 00:11:04,600 --> 00:11:10,640 Speaker 1: s G indext fund was sitting around zero point expense ratio, 239 00:11:10,920 --> 00:11:15,400 Speaker 1: which is overdouble. What is your take on EES index 240 00:11:15,440 --> 00:11:18,720 Speaker 1: funds as a means of long term wealth building or 241 00:11:18,800 --> 00:11:24,880 Speaker 1: the higher expense ratio reasonable tool limit. I know expense 242 00:11:25,000 --> 00:11:26,960 Speaker 1: ratios can make a big difference in the long term, 243 00:11:27,040 --> 00:11:29,079 Speaker 1: and I want to understand when I'm getting myself into. 244 00:11:29,840 --> 00:11:32,480 Speaker 1: At the same time, the values behind E s G, 245 00:11:33,080 --> 00:11:36,160 Speaker 1: especially sustainability, is important to me and I like to 246 00:11:36,200 --> 00:11:39,760 Speaker 1: put my money where my mouth is. Thanks again, all right, 247 00:11:39,840 --> 00:11:41,480 Speaker 1: first off, man, thanks so much for saying that. We 248 00:11:41,480 --> 00:11:44,600 Speaker 1: We really do appreciate you listening, and Matt it's so true. 249 00:11:44,640 --> 00:11:47,319 Speaker 1: It's amazing how learning to handle our money better. It's 250 00:11:47,360 --> 00:11:49,319 Speaker 1: just such a game changer in what our lives look 251 00:11:49,400 --> 00:11:52,400 Speaker 1: like like money is an amplifier I think at times 252 00:11:52,480 --> 00:11:54,160 Speaker 1: of what our lives look like. You know, you and 253 00:11:54,200 --> 00:11:56,920 Speaker 1: I were not all about amassing like ridiculous sums of 254 00:11:56,920 --> 00:11:59,680 Speaker 1: money in order to be Scrooge McDucks and diving in it. 255 00:12:00,000 --> 00:12:02,520 Speaker 1: But just handling it better removes a lot of a 256 00:12:02,559 --> 00:12:05,559 Speaker 1: burden from your life that otherwise exists for so many people. 257 00:12:05,640 --> 00:12:07,440 Speaker 1: So it sounds like that's been the case for Tark. 258 00:12:07,559 --> 00:12:10,839 Speaker 1: And so yeah, Tark, congratulations, man, keep up the good work. Now, Matt, 259 00:12:10,920 --> 00:12:13,720 Speaker 1: let's talk about socially responsible investing, how to invest in 260 00:12:13,720 --> 00:12:15,720 Speaker 1: a sustainable way and whether or not it makes sense 261 00:12:15,720 --> 00:12:18,120 Speaker 1: for Tark. Let's do it man. Uh. And first, you know, Tark, 262 00:12:18,200 --> 00:12:20,080 Speaker 1: he mentioned e s G investing, and so for those 263 00:12:20,120 --> 00:12:23,679 Speaker 1: who don't know, that stands for Environmental, Social, and governance. 264 00:12:24,080 --> 00:12:26,679 Speaker 1: These are funds that take into account not just maximizing 265 00:12:26,679 --> 00:12:30,680 Speaker 1: their profits, but they're also looking at how different companies 266 00:12:31,000 --> 00:12:34,240 Speaker 1: behave right, like how these corporations operate, and they don't 267 00:12:34,240 --> 00:12:36,719 Speaker 1: just look at their bottom line. And so first of 268 00:12:36,720 --> 00:12:40,479 Speaker 1: all s G funds they are becoming more and more mainstream, 269 00:12:40,800 --> 00:12:42,920 Speaker 1: and we think that's pretty great. And that also means 270 00:12:42,920 --> 00:12:45,600 Speaker 1: that the costs associated with these funds are going down. 271 00:12:45,640 --> 00:12:47,480 Speaker 1: And in the coming years, man, I bet we'll see 272 00:12:47,600 --> 00:12:50,719 Speaker 1: the expense ratios on E S G funds that are 273 00:12:50,840 --> 00:12:53,360 Speaker 1: tied to a bigger index start to dip in a 274 00:12:53,400 --> 00:12:56,600 Speaker 1: substantial way. And so if you were talking about a 275 00:12:56,640 --> 00:12:58,720 Speaker 1: half or even a quarter of a point difference, that 276 00:12:58,800 --> 00:13:01,040 Speaker 1: would you know, that would make me balk. But the 277 00:13:01,120 --> 00:13:04,199 Speaker 1: expense ratios tark that you mentioned are still incredibly low. 278 00:13:04,240 --> 00:13:07,120 Speaker 1: So I wouldn't, you know, let that be the barrier to, 279 00:13:07,400 --> 00:13:09,760 Speaker 1: you know, to your desire to invest in a sustainable way. 280 00:13:09,920 --> 00:13:11,920 Speaker 1: You know, if you actually do the math, we're talking 281 00:13:11,960 --> 00:13:14,000 Speaker 1: about a point zero six difference in the in the 282 00:13:14,040 --> 00:13:17,080 Speaker 1: expense ratios of the two funds that you mentioned, and 283 00:13:17,120 --> 00:13:19,600 Speaker 1: so actually calculating that if you were to max out 284 00:13:19,640 --> 00:13:22,079 Speaker 1: your wrath over the next thirty years, that's only a 285 00:13:22,080 --> 00:13:24,760 Speaker 1: difference of six thousand dollars. And so I'm not gonna 286 00:13:24,800 --> 00:13:28,000 Speaker 1: say that six thousand dollars doesn't nothing. However, over the 287 00:13:28,040 --> 00:13:30,000 Speaker 1: course of thirty years, to to know that you're able 288 00:13:30,000 --> 00:13:33,520 Speaker 1: to invest in a way that aligns more with your values, 289 00:13:33,840 --> 00:13:35,960 Speaker 1: and when you're looking at hundreds of thousands of dollars 290 00:13:35,960 --> 00:13:38,680 Speaker 1: at that point, this is it's a small price to pay, yeah, Matt, 291 00:13:38,760 --> 00:13:41,280 Speaker 1: And I think interestingly enough, I don't think that expense ratio, 292 00:13:41,640 --> 00:13:44,800 Speaker 1: that that small increase in it is going to lead 293 00:13:44,840 --> 00:13:47,600 Speaker 1: to Tark having less money at least it hasn't based 294 00:13:47,600 --> 00:13:50,559 Speaker 1: on recent performance of BS fact. Right. Yeah, So yeah, 295 00:13:50,559 --> 00:13:52,200 Speaker 1: I think it's awesome to Tark wants to to put 296 00:13:52,200 --> 00:13:54,120 Speaker 1: his money where his mouth is. Really, it's something that 297 00:13:54,200 --> 00:13:57,400 Speaker 1: all investors should at least be thinking about, right. We 298 00:13:57,480 --> 00:13:59,600 Speaker 1: want to invest not just to build wealth for our 299 00:13:59,640 --> 00:14:02,160 Speaker 1: own teachers, but also to build up companies that are 300 00:14:02,240 --> 00:14:05,600 Speaker 1: making a positive impact, that are doing good. Uh and 301 00:14:05,880 --> 00:14:08,720 Speaker 1: morning Star Matt found that E s G funds have 302 00:14:08,840 --> 00:14:12,320 Speaker 1: been outperforming their basic index rivals in recent years, and 303 00:14:12,360 --> 00:14:14,400 Speaker 1: they actually found that there's less volatility in a lot 304 00:14:14,400 --> 00:14:16,760 Speaker 1: of these funds. In the recent downturn that we experienced 305 00:14:16,800 --> 00:14:19,480 Speaker 1: last spring, those funds were more resilient. They didn't go 306 00:14:19,600 --> 00:14:22,760 Speaker 1: down as much as the entire market as a whole. Right, 307 00:14:23,360 --> 00:14:26,240 Speaker 1: But although those are interesting data points, that doesn't necessarily 308 00:14:26,320 --> 00:14:28,040 Speaker 1: mean it's going to be the case moving forward through 309 00:14:28,160 --> 00:14:30,320 Speaker 1: But it is interesting to note that these E s 310 00:14:30,360 --> 00:14:33,120 Speaker 1: G funds have been doing better. And so, yeah, when 311 00:14:33,160 --> 00:14:36,200 Speaker 1: you're talking about a minuscule expense ratio difference, but with 312 00:14:36,280 --> 00:14:39,720 Speaker 1: the added potential for a better performance. I agree with you. 313 00:14:39,720 --> 00:14:41,960 Speaker 1: I think it is almost negligible and it's not worth 314 00:14:42,000 --> 00:14:44,280 Speaker 1: worrying about. Yeah, it's really interesting how with these e 315 00:14:44,440 --> 00:14:47,080 Speaker 1: s G funds, as they've become more popular, as more 316 00:14:47,120 --> 00:14:50,120 Speaker 1: people have been looking to those metrics, you know, whatever 317 00:14:50,160 --> 00:14:52,000 Speaker 1: it is that they are, that the e s G 318 00:14:52,120 --> 00:14:55,040 Speaker 1: funds are performing better. It's almost as if by treating 319 00:14:55,080 --> 00:14:57,440 Speaker 1: people better and by taking the environment into account and 320 00:14:57,480 --> 00:15:00,280 Speaker 1: by running your corporation in a responsible way, is as 321 00:15:00,320 --> 00:15:02,600 Speaker 1: if these companies are being rewarded for it, which is 322 00:15:02,880 --> 00:15:05,680 Speaker 1: I mean, only a good thing. Right. It's a tark 323 00:15:06,080 --> 00:15:07,720 Speaker 1: Joe and I. We feel that E s G investing 324 00:15:08,040 --> 00:15:10,040 Speaker 1: it is kind of more of a personal choice, right. 325 00:15:10,240 --> 00:15:11,840 Speaker 1: You know, it's important to have done your homework on 326 00:15:11,960 --> 00:15:14,720 Speaker 1: fees allocation, things like that before you make your decision 327 00:15:14,840 --> 00:15:17,880 Speaker 1: on whether you'd prefer investing in e s G funds 328 00:15:17,920 --> 00:15:21,520 Speaker 1: over their index fund uh counterparts. But as long as 329 00:15:21,560 --> 00:15:26,040 Speaker 1: you are continuing to invest consistently and in a diversified manner. Uh. 330 00:15:26,080 --> 00:15:27,760 Speaker 1: And you know, when we do think that these index 331 00:15:27,800 --> 00:15:30,400 Speaker 1: style e s G funds like e s G V 332 00:15:30,880 --> 00:15:33,800 Speaker 1: as well as f I T l X. They definitely 333 00:15:33,800 --> 00:15:36,680 Speaker 1: fit that bill. Those are Vanguard and Fidelities E s 334 00:15:36,720 --> 00:15:38,000 Speaker 1: G funds. Will put a link to those in the 335 00:15:38,000 --> 00:15:40,600 Speaker 1: show notes. But basically those are the two of the 336 00:15:40,640 --> 00:15:42,400 Speaker 1: lowest cost s G funds out there that you want 337 00:15:42,400 --> 00:15:45,480 Speaker 1: to consider exactly, and they're incredibly diversified as well. And 338 00:15:45,520 --> 00:15:47,080 Speaker 1: so as long as you are able to maintain that 339 00:15:47,120 --> 00:15:49,600 Speaker 1: wide exposure to the market, then in that case we 340 00:15:49,600 --> 00:15:52,320 Speaker 1: would say to follow your heart. Don't let those tiny 341 00:15:52,560 --> 00:15:55,400 Speaker 1: fee differences stop you, because in the end, uh, you 342 00:15:55,480 --> 00:15:58,400 Speaker 1: may not actually see less money by investing in these 343 00:15:58,400 --> 00:16:00,320 Speaker 1: e s G accounts. He I mean, who knows, Like 344 00:16:00,360 --> 00:16:02,560 Speaker 1: we can't tell the future, but there's a chance that 345 00:16:02,600 --> 00:16:05,320 Speaker 1: you'll actually see your investments grow more. Yeah. And the 346 00:16:05,520 --> 00:16:08,200 Speaker 1: final thing we should say about socially responsible investing. We've 347 00:16:08,200 --> 00:16:10,080 Speaker 1: talked about it on the show before. There are still 348 00:16:10,120 --> 00:16:12,560 Speaker 1: some issues with it, some kinks being worked out about 349 00:16:12,560 --> 00:16:15,520 Speaker 1: what companies are included, which companies are excluded. For instance, 350 00:16:15,520 --> 00:16:18,400 Speaker 1: a company like Facebook is often included in these, yet 351 00:16:18,400 --> 00:16:21,320 Speaker 1: there are still some questions about how they use the 352 00:16:21,440 --> 00:16:25,240 Speaker 1: data of their customers. Sure they're not pumping oil into rivers, 353 00:16:25,520 --> 00:16:28,680 Speaker 1: let's talk about privacy concerns. Yes, exactly exactly, and so 354 00:16:28,720 --> 00:16:30,080 Speaker 1: that I think you know that that is going to 355 00:16:30,160 --> 00:16:33,440 Speaker 1: be interesting to watch how these funds adapt to other 356 00:16:33,480 --> 00:16:36,720 Speaker 1: concerns than investors have that human beings have. And I 357 00:16:36,720 --> 00:16:39,480 Speaker 1: think we'll get more clarity around standards in the coming 358 00:16:39,560 --> 00:16:42,440 Speaker 1: years as these funds continue to mature. But Tar, best 359 00:16:42,440 --> 00:16:45,120 Speaker 1: of luck, man, keep investing, and yeah, if you want 360 00:16:45,120 --> 00:16:47,040 Speaker 1: to do it in a socially responsible way in one 361 00:16:47,040 --> 00:16:49,200 Speaker 1: of those funds, we're all about it. All right, Let's 362 00:16:49,200 --> 00:16:51,800 Speaker 1: get to the next question, Matt. This one's about crazy, 363 00:16:52,000 --> 00:16:56,240 Speaker 1: funky silly life insurance. A few agents are promoting long 364 00:16:56,320 --> 00:16:59,560 Speaker 1: term care products with I U L Life Insurance. They 365 00:16:59,600 --> 00:17:03,040 Speaker 1: mentioned it is a tax saving vehicle. My husband and 366 00:17:03,080 --> 00:17:06,119 Speaker 1: I already have life term policy, so we are not 367 00:17:06,160 --> 00:17:08,639 Speaker 1: sure if we should cancel the term and replace with 368 00:17:08,720 --> 00:17:11,960 Speaker 1: I U L with long term care writer, we don't 369 00:17:12,000 --> 00:17:15,199 Speaker 1: think stand alone LTC is a good option. Thank you 370 00:17:15,240 --> 00:17:18,439 Speaker 1: for your advice. Amber. Hey, Amber, great to hear from you, 371 00:17:18,480 --> 00:17:20,160 Speaker 1: and we are glad to hear that you both have 372 00:17:20,400 --> 00:17:23,159 Speaker 1: term life policies in place. For most people, having a 373 00:17:23,160 --> 00:17:26,520 Speaker 1: basic level term policy is going to be more than sufficient. 374 00:17:26,640 --> 00:17:30,120 Speaker 1: Right term life insurance is ideal for a couple of reasons, 375 00:17:30,560 --> 00:17:34,640 Speaker 1: gives you coverage for a specific, defined period of time 376 00:17:34,640 --> 00:17:37,520 Speaker 1: when you most need it. And term life insurance it 377 00:17:37,600 --> 00:17:42,919 Speaker 1: is inexpensive, I love inexpensive, rocks, effective and cheap. Yeah, exactly, 378 00:17:43,000 --> 00:17:44,640 Speaker 1: that's what term life insurance is. All right. Well, let's 379 00:17:44,640 --> 00:17:46,520 Speaker 1: talk about the other kind of life insurance that the 380 00:17:46,880 --> 00:17:49,240 Speaker 1: of the funky variety, the i U L. Yeah, that 381 00:17:49,320 --> 00:17:52,120 Speaker 1: Amber is asking about. I u L stands for indexed 382 00:17:52,240 --> 00:17:54,679 Speaker 1: Universal Life, and it's gonna cost Amber a whole lot 383 00:17:54,720 --> 00:17:56,720 Speaker 1: more than that term policy, Matt, which you just mentioned, 384 00:17:56,800 --> 00:17:59,680 Speaker 1: which Amber already has in place. And that's in part 385 00:17:59,720 --> 00:18:02,280 Speaker 1: because policy covers you not just for a specific period 386 00:18:02,280 --> 00:18:04,679 Speaker 1: of time of fifteen or twenty or thirty years right, 387 00:18:04,760 --> 00:18:08,159 Speaker 1: a specific term, but it's covering you for your whole life. 388 00:18:08,480 --> 00:18:10,520 Speaker 1: That of course, is going to be a more expensive product. 389 00:18:10,880 --> 00:18:13,920 Speaker 1: Also to the I an i U L policy includes 390 00:18:14,160 --> 00:18:17,400 Speaker 1: an investing component too, So if you did your term policy, 391 00:18:17,440 --> 00:18:19,160 Speaker 1: Amber and you go with an i U L policy, 392 00:18:19,400 --> 00:18:21,120 Speaker 1: your premiums are gonna be a heck of a lot 393 00:18:21,160 --> 00:18:24,520 Speaker 1: more expensive, way more in particular because of those two 394 00:18:24,880 --> 00:18:27,320 Speaker 1: factors that just drive up the cost in a big way. 395 00:18:27,359 --> 00:18:29,639 Speaker 1: But then, Matt, there are other factors that drive up 396 00:18:29,680 --> 00:18:32,359 Speaker 1: the cost too, right. Yeah, obviously we're not fans of 397 00:18:32,440 --> 00:18:35,160 Speaker 1: i U L s because they're I mean, they're complex 398 00:18:35,200 --> 00:18:37,960 Speaker 1: products that can also be kind of difficult to understand. 399 00:18:38,000 --> 00:18:41,080 Speaker 1: You know. Not surprisingly, you didn't go out in search 400 00:18:41,320 --> 00:18:44,440 Speaker 1: for an i U L plan, butts an insurance salesperson 401 00:18:44,480 --> 00:18:46,359 Speaker 1: came knocking on your door to discuss it with you. 402 00:18:46,720 --> 00:18:49,800 Speaker 1: The opaque generalities that they use to sell these products 403 00:18:49,880 --> 00:18:52,440 Speaker 1: are they're they're all a part of the plan. Uh. 404 00:18:52,440 --> 00:18:55,040 Speaker 1: And that's because these policies make them make those sales 405 00:18:55,119 --> 00:18:58,440 Speaker 1: people a lot more money than just selling a term policy. 406 00:18:58,840 --> 00:19:01,639 Speaker 1: The fees are honestly outray just in most cases compared 407 00:19:01,680 --> 00:19:03,800 Speaker 1: to you know what you're spending on term life. Uh. 408 00:19:03,840 --> 00:19:06,600 Speaker 1: These sales folks, I mean, they have a vested interest 409 00:19:06,720 --> 00:19:10,119 Speaker 1: in selling you on the incredible upside that an i 410 00:19:10,280 --> 00:19:12,600 Speaker 1: U L will provide, because you know they stand to 411 00:19:12,640 --> 00:19:14,639 Speaker 1: benefit if you buy that policy. It makes me think 412 00:19:14,680 --> 00:19:17,520 Speaker 1: of the way time shares are sold. And you've gone 413 00:19:17,520 --> 00:19:19,959 Speaker 1: to a timeshare presentation, right, yea for the free breakfast man. 414 00:19:20,760 --> 00:19:22,360 Speaker 1: But I mean, wasn't there a lot of pressure? Wasn't 415 00:19:22,359 --> 00:19:24,040 Speaker 1: there a lot of salesmanship. Wasn't there a lot of 416 00:19:24,200 --> 00:19:28,040 Speaker 1: touting the incredible, amazing, wonderful benefits. They definitely were talking 417 00:19:28,040 --> 00:19:29,560 Speaker 1: it up. But then I mean she kind of stopped 418 00:19:29,560 --> 00:19:32,240 Speaker 1: when she realized that we were in college. It was 419 00:19:32,280 --> 00:19:33,920 Speaker 1: it was two couples. It was me and Kate and 420 00:19:34,040 --> 00:19:35,919 Speaker 1: you know, plus another friend. But we were in college 421 00:19:35,920 --> 00:19:38,159 Speaker 1: at the time on spring break, and so we just 422 00:19:38,160 --> 00:19:41,320 Speaker 1: explained to them that we don't got that kind of money. Yeah. Sorry, Well, 423 00:19:41,359 --> 00:19:44,040 Speaker 1: I think, yeah, the same is true oftentimes with these 424 00:19:44,040 --> 00:19:47,040 Speaker 1: i U policies or or similar funky life insurance products. 425 00:19:47,240 --> 00:19:49,119 Speaker 1: The way they're talked about makes you think they're the 426 00:19:49,119 --> 00:19:51,680 Speaker 1: greatest thing since like spread, But in reality, there's a 427 00:19:51,720 --> 00:19:54,680 Speaker 1: lot of hidden fees, and so it's gonna cost Amber 428 00:19:54,720 --> 00:19:56,560 Speaker 1: a whole lot more money and and not actually give 429 00:19:56,560 --> 00:19:59,920 Speaker 1: her something that's better for her. Instead Amber, of ditch 430 00:20:00,119 --> 00:20:02,560 Speaker 1: your term life policy and going with something more expensive 431 00:20:03,000 --> 00:20:06,160 Speaker 1: with the unnecessary bells and whistles that an EU policy adds, 432 00:20:06,480 --> 00:20:08,440 Speaker 1: we would say, take the spread of what you would 433 00:20:08,480 --> 00:20:11,600 Speaker 1: have spent by switching policies and suck that money away 434 00:20:11,600 --> 00:20:14,879 Speaker 1: into a tax advantage retirement account instead. That's the best 435 00:20:14,920 --> 00:20:18,159 Speaker 1: tax savings vehicle. For you not having investments inside of 436 00:20:18,200 --> 00:20:20,640 Speaker 1: your life insurance policy. And if you feel the need 437 00:20:20,680 --> 00:20:22,560 Speaker 1: to get more life insurance in the future, you can 438 00:20:22,600 --> 00:20:25,359 Speaker 1: always ladder and get another term policy in order to 439 00:20:25,760 --> 00:20:28,520 Speaker 1: add onto the amount of overall coverage that you have. 440 00:20:28,920 --> 00:20:32,480 Speaker 1: But you don't want index universal life. Almost nobody does. 441 00:20:32,560 --> 00:20:35,280 Speaker 1: It's it's not a good product for almost anybody out there. 442 00:20:35,280 --> 00:20:38,520 Speaker 1: For a number of reasons. A term policy works perfectly 443 00:20:38,560 --> 00:20:41,639 Speaker 1: fine in the case of individuals. I would say, so, 444 00:20:41,720 --> 00:20:43,520 Speaker 1: don't call this person back and just kind of keep 445 00:20:43,680 --> 00:20:46,800 Speaker 1: rolling with the term policy. That is plenty good enough. 446 00:20:47,080 --> 00:20:49,200 Speaker 1: All right, Well, Amber, we hope that gets you pointed 447 00:20:49,200 --> 00:20:50,920 Speaker 1: in the right direction. Oh, it's fun to answer an 448 00:20:50,960 --> 00:20:55,040 Speaker 1: insurance question, Jole. Oh yeah, insurance is the most fun 449 00:20:55,040 --> 00:20:56,880 Speaker 1: topic out there, Matt as we all know. Well, I mean, 450 00:20:56,960 --> 00:21:00,600 Speaker 1: let's be honest, insurance not sexy, but very necessary. Like 451 00:21:00,640 --> 00:21:02,239 Speaker 1: that's what we can agree on. All right. We've got 452 00:21:02,240 --> 00:21:03,800 Speaker 1: a couple more questions that we're gonna get to you 453 00:21:03,880 --> 00:21:06,520 Speaker 1: right after the break, including one about real estate investing 454 00:21:06,560 --> 00:21:09,199 Speaker 1: as well as rath ra As yet again we have, 455 00:21:09,280 --> 00:21:10,760 Speaker 1: but this time we're gonna talk about it from a 456 00:21:10,760 --> 00:21:12,760 Speaker 1: different angle. We'll get to both of those questions right 457 00:21:12,800 --> 00:21:23,080 Speaker 1: after the break. All right, back on the break, Matt 458 00:21:23,119 --> 00:21:26,760 Speaker 1: on slightly sexier topic. We're talking about real estate investing now, 459 00:21:26,880 --> 00:21:28,359 Speaker 1: which is you know, I don't know. It is a 460 00:21:28,359 --> 00:21:31,560 Speaker 1: little more interesting than life insurance, although that was kind 461 00:21:31,560 --> 00:21:34,760 Speaker 1: of interesting, the funky angle to uh Amber's question. But Matt, 462 00:21:34,800 --> 00:21:37,360 Speaker 1: let's get to this next one. This is about investing 463 00:21:37,359 --> 00:21:40,920 Speaker 1: in real estate when you're too busy to actually buy 464 00:21:40,960 --> 00:21:43,600 Speaker 1: a physical house, you know where you live. Hey, Matt 465 00:21:43,640 --> 00:21:47,280 Speaker 1: and Joel, this is Cheyenne from Memphis, Tennessee. I currently 466 00:21:47,320 --> 00:21:50,120 Speaker 1: have a lot of exposure to the stock market through 467 00:21:50,160 --> 00:21:52,760 Speaker 1: my four one K and Roth all right, and I'm 468 00:21:52,760 --> 00:21:54,920 Speaker 1: looking to get more into real estate. As I heard 469 00:21:54,960 --> 00:21:58,320 Speaker 1: you guys talk about on the podcast. My issue is 470 00:21:58,359 --> 00:22:00,760 Speaker 1: that my day job is very I'm consuming and I'm 471 00:22:00,800 --> 00:22:03,480 Speaker 1: not gonna have time to be the landlord myself. Fund 472 00:22:03,520 --> 00:22:06,280 Speaker 1: to Render boy, you know, buy houses, um and everything 473 00:22:06,280 --> 00:22:08,320 Speaker 1: that comes with it. And so my question is is 474 00:22:08,520 --> 00:22:12,680 Speaker 1: about these sides like fund rise if if you think, uh, 475 00:22:12,720 --> 00:22:15,440 Speaker 1: they would be a good idea for somebody in my situation. 476 00:22:15,800 --> 00:22:19,119 Speaker 1: Thanks and love the show. All right, let's get into it. Cheyenne. First, 477 00:22:19,240 --> 00:22:23,320 Speaker 1: we love your desire to diversify beyond just stock investing 478 00:22:23,440 --> 00:22:26,200 Speaker 1: for your retirement. Most people only think to invest inside 479 00:22:26,240 --> 00:22:29,119 Speaker 1: of tax advantage accounts for retirement, but investing in other ways, 480 00:22:29,480 --> 00:22:32,040 Speaker 1: like with real estate, can provide you know, not only 481 00:22:32,400 --> 00:22:35,240 Speaker 1: a healthy level of diversity for your portfolio, but also 482 00:22:35,320 --> 00:22:38,200 Speaker 1: to add some some current streams of income as well, 483 00:22:38,200 --> 00:22:40,920 Speaker 1: which is very nice. Yeah. I like that about real estate. 484 00:22:41,000 --> 00:22:43,760 Speaker 1: I like the fact that not only is my investment 485 00:22:43,920 --> 00:22:47,240 Speaker 1: increasing in value, but I'm also I'm generating dividends essentially 486 00:22:47,280 --> 00:22:49,280 Speaker 1: every month with the round. But that is when you 487 00:22:49,320 --> 00:22:51,760 Speaker 1: own physical real estate level to where you are. Let's 488 00:22:51,760 --> 00:22:54,760 Speaker 1: talk about fund Raise in particular. Cheyenne uh And and 489 00:22:54,800 --> 00:22:56,320 Speaker 1: Matt and I. We actually do get quite a few 490 00:22:56,400 --> 00:22:58,640 Speaker 1: questions on Fundraise, although it's been a minute since we've 491 00:22:58,640 --> 00:23:00,560 Speaker 1: discussed it on the show, and I think it is 492 00:23:00,600 --> 00:23:02,880 Speaker 1: time to tackle it again. Matt. First off, we have 493 00:23:03,359 --> 00:23:05,760 Speaker 1: nothing against Fundrise as a company. I think as far 494 00:23:05,880 --> 00:23:09,159 Speaker 1: as crowdsourced real estate investing goes, Fundrise is actually at 495 00:23:09,160 --> 00:23:10,480 Speaker 1: the top of the heap. They're one of the better 496 00:23:10,520 --> 00:23:14,679 Speaker 1: players in that game, partly because they are not charging 497 00:23:14,720 --> 00:23:17,600 Speaker 1: exorbitant fees like a lot of their counterparts, and they're 498 00:23:17,600 --> 00:23:20,320 Speaker 1: not hiding their fee structure altogether. Like some of the 499 00:23:20,359 --> 00:23:23,239 Speaker 1: other players in the crowdsourced real estate game, it can 500 00:23:23,240 --> 00:23:24,760 Speaker 1: be hard to know what you're getting into, and when 501 00:23:24,800 --> 00:23:27,680 Speaker 1: it comes to Fundrise, that's not the case. So from 502 00:23:27,720 --> 00:23:31,560 Speaker 1: that standpoint, I would say fund Rise is a reasonable consideration. 503 00:23:31,600 --> 00:23:33,960 Speaker 1: It is one of the better websites that you could 504 00:23:34,000 --> 00:23:36,160 Speaker 1: go to in order to invest in real estate if 505 00:23:36,160 --> 00:23:39,440 Speaker 1: you wanted to do it through the crowdsourced way. That's true, 506 00:23:39,480 --> 00:23:43,359 Speaker 1: But he reads like Fundraise aren't our favorite option if 507 00:23:43,359 --> 00:23:45,600 Speaker 1: you want to get into real estate investing. Obviously, our 508 00:23:45,640 --> 00:23:48,119 Speaker 1: our number one avenue, our favorite way is buying a 509 00:23:48,160 --> 00:23:50,840 Speaker 1: specific property where you live. But this is also assuming 510 00:23:50,840 --> 00:23:53,479 Speaker 1: too that you've done the research Cheyenne, and you know 511 00:23:53,560 --> 00:23:56,560 Speaker 1: that you can get a healthier return from that property 512 00:23:56,560 --> 00:23:58,879 Speaker 1: than you could otherwise, and you could in the stock market. 513 00:23:59,160 --> 00:24:01,639 Speaker 1: Local real estate is it inherently better and actually it 514 00:24:01,640 --> 00:24:04,119 Speaker 1: could it could be worse potentially when you buy a 515 00:24:04,160 --> 00:24:07,000 Speaker 1: local property, it obviously comes with a massive upfront cost 516 00:24:07,359 --> 00:24:09,240 Speaker 1: um and plus managing a property it can be like 517 00:24:09,240 --> 00:24:11,200 Speaker 1: a part time job. I can vouch for that. Yeah, 518 00:24:11,560 --> 00:24:14,600 Speaker 1: same here, uh. But in another downside to owning a 519 00:24:14,640 --> 00:24:17,840 Speaker 1: single property or two is also the lack of diversification. 520 00:24:18,160 --> 00:24:21,320 Speaker 1: You know, it's literally one house in one town, and 521 00:24:21,359 --> 00:24:25,240 Speaker 1: since real estate is local, your turns in appreciation could 522 00:24:25,240 --> 00:24:29,520 Speaker 1: be affected by small changes that you have zero control over. Yeah, 523 00:24:29,600 --> 00:24:31,880 Speaker 1: and what Cheyenne said too was I'm busy. I don't 524 00:24:31,880 --> 00:24:33,640 Speaker 1: want that part time job. I don't want to jump 525 00:24:33,680 --> 00:24:36,320 Speaker 1: into real estate in that way. So that's why fund 526 00:24:36,400 --> 00:24:39,240 Speaker 1: rises appealing. And I totally understand that. I see the appeal. 527 00:24:39,560 --> 00:24:42,480 Speaker 1: But let's talk about an alternative tell both of those things. 528 00:24:42,680 --> 00:24:45,040 Speaker 1: And so another route you can go in is adding 529 00:24:45,080 --> 00:24:49,440 Speaker 1: more real estate exposure into your investment portfolio with publicly 530 00:24:49,480 --> 00:24:54,160 Speaker 1: traded reads instead of going with crowdfunded resources online. These 531 00:24:54,320 --> 00:24:56,920 Speaker 1: publicly traded reads actually allow you to invest in specific 532 00:24:57,000 --> 00:25:03,400 Speaker 1: real estate sectors Cheyenne like wireless tower, industrial space, medical offices, hotels, warehouses, 533 00:25:03,440 --> 00:25:06,960 Speaker 1: and more, while paying less in fees and giving you 534 00:25:07,040 --> 00:25:09,639 Speaker 1: more liquidity. I think both of those things are really 535 00:25:09,680 --> 00:25:12,600 Speaker 1: important in this consideration. For instance, with fund rise, you 536 00:25:12,600 --> 00:25:14,880 Speaker 1: have to commit your money for five years in order 537 00:25:14,880 --> 00:25:18,120 Speaker 1: to avoid fees for withdrawing that money early. But when 538 00:25:18,119 --> 00:25:21,159 Speaker 1: we're talking about publicly traded rates, your money isn't locked 539 00:25:21,240 --> 00:25:24,520 Speaker 1: up like that, and the average fees of publicly traded 540 00:25:24,560 --> 00:25:27,840 Speaker 1: reats are actually two times less than what fund rise charges, 541 00:25:28,040 --> 00:25:30,159 Speaker 1: so you can imagine how bad the fees actually get 542 00:25:30,200 --> 00:25:33,400 Speaker 1: when we're talking about the shadier crowdsourced reat sites. But yeah, 543 00:25:33,400 --> 00:25:36,000 Speaker 1: those are the reasons that we would suggest publicly traded 544 00:25:36,040 --> 00:25:39,360 Speaker 1: rates as opposed to the private crowdfunded reats that are 545 00:25:39,440 --> 00:25:42,680 Speaker 1: available to you online exactly. And so yeah, publicly traded 546 00:25:42,720 --> 00:25:44,760 Speaker 1: reets means you can purchase them just like you would 547 00:25:45,040 --> 00:25:47,240 Speaker 1: UH an E t F or mutual fund uh. And 548 00:25:47,280 --> 00:25:50,600 Speaker 1: so some reats to consider are I Shares, Cohen and 549 00:25:50,680 --> 00:25:53,480 Speaker 1: Steers reats, E t F Spider they have a good 550 00:25:53,480 --> 00:25:56,320 Speaker 1: one as well, UH and V and Q from Vanguard. 551 00:25:56,800 --> 00:26:00,439 Speaker 1: None of those have expense ratios over a third of 552 00:26:00,440 --> 00:26:03,040 Speaker 1: a percent, and to them are actually below point one five, 553 00:26:03,040 --> 00:26:05,760 Speaker 1: which is pretty damn good and so shy. And you know, again, 554 00:26:05,760 --> 00:26:09,480 Speaker 1: we love your desire to diversify here, and while funderises solid, 555 00:26:09,520 --> 00:26:12,280 Speaker 1: publicly traded reads are more of a known entity here 556 00:26:12,280 --> 00:26:16,119 Speaker 1: and can provide even greater diversification with lower fees. However, 557 00:26:16,160 --> 00:26:18,840 Speaker 1: all that being said, it's worth mentioning that Joe and I, 558 00:26:18,920 --> 00:26:21,640 Speaker 1: you and I, we don't invest in reats at all. Obviously, 559 00:26:21,680 --> 00:26:25,320 Speaker 1: we have were invested locally in in physical real estate 560 00:26:25,359 --> 00:26:28,440 Speaker 1: properties here, uh, and so we don't have a need 561 00:26:28,520 --> 00:26:30,359 Speaker 1: or a desire to invest in reads. But even if 562 00:26:30,400 --> 00:26:32,240 Speaker 1: you did want to, uh, and you weren't going to 563 00:26:32,320 --> 00:26:34,680 Speaker 1: take the d I Y approach and being a kind 564 00:26:34,680 --> 00:26:37,240 Speaker 1: of a mama pop landlord, we would recommend that you 565 00:26:37,320 --> 00:26:40,480 Speaker 1: don't invest more than five to ten of your portfolio 566 00:26:40,640 --> 00:26:42,800 Speaker 1: in reads. You want to make sure that you, yeah, 567 00:26:42,840 --> 00:26:46,320 Speaker 1: that you're still mostly invested in the overall stock market 568 00:26:46,400 --> 00:26:49,240 Speaker 1: or the sp Yeah, it's okay to have some exposure, 569 00:26:49,240 --> 00:26:51,960 Speaker 1: you don't want too much exposure, right exactly. And so yeah, 570 00:26:52,119 --> 00:26:54,080 Speaker 1: I think real estate is a good asset class to 571 00:26:54,080 --> 00:26:56,040 Speaker 1: own in some way former fashion. You want to make 572 00:26:56,040 --> 00:26:57,520 Speaker 1: sure you're owning it in the right ways though, and 573 00:26:57,520 --> 00:26:59,840 Speaker 1: that you're not owning too much of it. Um, you 574 00:27:00,000 --> 00:27:02,240 Speaker 1: definitely want to stay diversified. But hyenne, best of luck 575 00:27:02,400 --> 00:27:05,280 Speaker 1: in that man. Hopefully that answer your question and set 576 00:27:05,320 --> 00:27:07,280 Speaker 1: you off on the right course to actually start being 577 00:27:07,280 --> 00:27:09,760 Speaker 1: a real estate investor. All right, let's take this next question. 578 00:27:09,800 --> 00:27:11,919 Speaker 1: This one's about investing in a rath and is it 579 00:27:11,960 --> 00:27:14,600 Speaker 1: allowed in this case? Hi, Matt and Joel This is 580 00:27:14,680 --> 00:27:18,879 Speaker 1: Leslie calling from Leavenworth, Kansas. I opened a roth Ira 581 00:27:18,840 --> 00:27:21,199 Speaker 1: a couple of years ago because of the show, but 582 00:27:21,280 --> 00:27:24,520 Speaker 1: I might have made a mistake with it. In my 583 00:27:24,640 --> 00:27:28,200 Speaker 1: husband is the primary redwinner and I work very part time. 584 00:27:28,920 --> 00:27:34,000 Speaker 1: At the beginning of I fully funded my roth irara 585 00:27:34,200 --> 00:27:38,320 Speaker 1: with six thousand dollars from our robust savings, and then 586 00:27:38,560 --> 00:27:40,560 Speaker 1: throughout the course of the year I realized I will 587 00:27:40,600 --> 00:27:45,360 Speaker 1: have made less than six thousand dollars. Is it okay 588 00:27:45,400 --> 00:27:49,800 Speaker 1: to put more money in my wrath Ira than I 589 00:27:49,880 --> 00:27:54,240 Speaker 1: actually earned this year? And if it's not okay, what 590 00:27:54,280 --> 00:27:56,520 Speaker 1: do I need to do to fix it? If it 591 00:27:56,720 --> 00:28:01,440 Speaker 1: is okay because my husband earned that amount and obviously 592 00:28:01,480 --> 00:28:06,920 Speaker 1: plenty more, is it okay if I also begin investing 593 00:28:07,119 --> 00:28:11,280 Speaker 1: in my company's new four O one CA plan UM 594 00:28:11,359 --> 00:28:15,520 Speaker 1: so that we are taking as much advantage of our 595 00:28:15,680 --> 00:28:19,840 Speaker 1: tax advantage retirement accounts we can. Thanks so much, buddy. 596 00:28:20,200 --> 00:28:22,439 Speaker 1: All right, Leslie, We've got a little two part question 597 00:28:22,480 --> 00:28:24,320 Speaker 1: here from you, and let's go ahead and start from 598 00:28:24,359 --> 00:28:27,000 Speaker 1: the top. Right. Uh, it's great that you lump some 599 00:28:27,160 --> 00:28:30,720 Speaker 1: invested at the beginning of last year. You've likely already 600 00:28:30,760 --> 00:28:33,280 Speaker 1: seen your money grow nicely since then. But let's go 601 00:28:33,320 --> 00:28:35,080 Speaker 1: ahead and explain why you don't need to worry about 602 00:28:35,080 --> 00:28:38,440 Speaker 1: your wrath. Normally, it's not okay to put more money 603 00:28:38,640 --> 00:28:41,040 Speaker 1: in your wrath than you earned. Right, in order to 604 00:28:41,080 --> 00:28:43,640 Speaker 1: invest in a wrath, you have to have earned income. Uh, 605 00:28:43,680 --> 00:28:45,840 Speaker 1: and the ceiling of what you're able to contribute is 606 00:28:45,840 --> 00:28:49,080 Speaker 1: set by what you earned. But in your case it's 607 00:28:49,160 --> 00:28:53,120 Speaker 1: okay because if your tax status is married filing jointly, 608 00:28:53,680 --> 00:28:56,120 Speaker 1: you are allowed to contribute to a spousal wrath. And 609 00:28:56,360 --> 00:28:58,479 Speaker 1: this isn't like a special type of wrath account, right, 610 00:28:58,880 --> 00:29:01,719 Speaker 1: you can't like log into Vanguard Fidelity and one and 611 00:29:02,160 --> 00:29:04,440 Speaker 1: don't go looking for the spousal roth option. I don't 612 00:29:04,440 --> 00:29:06,920 Speaker 1: want the regular roth, IIRA, I want the spousal burgh. Yeah. Yeah, 613 00:29:06,920 --> 00:29:08,960 Speaker 1: it's not a separate account, but it's a benefit that 614 00:29:08,960 --> 00:29:11,760 Speaker 1: you receive from being married. And you don't have to 615 00:29:11,760 --> 00:29:15,560 Speaker 1: earn literally a single cent in a year for the 616 00:29:15,560 --> 00:29:17,880 Speaker 1: stay at home partner who who's not earning any income 617 00:29:18,080 --> 00:29:20,480 Speaker 1: to be able to contribute. You can contribute to two 618 00:29:20,560 --> 00:29:24,960 Speaker 1: wrath accounts for both individuals, even if only one individual 619 00:29:25,000 --> 00:29:27,480 Speaker 1: made all the money. And the fact that these spousal 620 00:29:27,560 --> 00:29:31,080 Speaker 1: roths exist is great and couples who are able should 621 00:29:31,160 --> 00:29:34,920 Speaker 1: prioritize contributing to both, including you and your husband, Leslie. 622 00:29:35,160 --> 00:29:37,320 Speaker 1: And that means that both of you can put six 623 00:29:37,360 --> 00:29:39,640 Speaker 1: thousand dollars a year aside in a wrath which is great. 624 00:29:39,920 --> 00:29:42,000 Speaker 1: And for folks that are over fifty, you can put 625 00:29:42,040 --> 00:29:44,880 Speaker 1: an additional thousand dollars in every year for a total 626 00:29:44,920 --> 00:29:47,560 Speaker 1: limit of seven thousand dollars. And that means, Matt that 627 00:29:47,720 --> 00:29:50,640 Speaker 1: depending on age, some couple of Kasakaway combined fourteen thou 628 00:29:50,800 --> 00:29:54,000 Speaker 1: dollars in rath Hira investments every single year, which is 629 00:29:54,040 --> 00:29:56,280 Speaker 1: pretty cool. Yeah, I love that man. Yeah. A little 630 00:29:56,280 --> 00:29:59,680 Speaker 1: personal anecdote here, Kate hasn't had an earned income in 631 00:29:59,720 --> 00:30:01,960 Speaker 1: over five years, but we've had a roth Ira that 632 00:30:01,960 --> 00:30:04,720 Speaker 1: we've contributed to four the past five years. We've had 633 00:30:04,720 --> 00:30:08,840 Speaker 1: no issues. She's rich now. Yeah, Forbes is about to 634 00:30:08,880 --> 00:30:12,040 Speaker 1: do it right up on her next week. Right Well, 635 00:30:12,120 --> 00:30:14,240 Speaker 1: Leslie to yes to your last question as well. You 636 00:30:14,240 --> 00:30:16,080 Speaker 1: know you're asking about your four O one K and 637 00:30:16,160 --> 00:30:18,840 Speaker 1: your roth you know, invest in your roth ira and 638 00:30:18,960 --> 00:30:20,400 Speaker 1: in your employer's fo O one k if you can 639 00:30:20,440 --> 00:30:23,120 Speaker 1: afford you, if you don't need your income to pay 640 00:30:23,160 --> 00:30:25,960 Speaker 1: the bills, then taking a sort of all of the 641 00:30:25,960 --> 00:30:28,160 Speaker 1: above approach is going to help you to build wealth 642 00:30:28,240 --> 00:30:30,560 Speaker 1: more quickly. Uh, And it allows you to take advantage 643 00:30:30,600 --> 00:30:34,360 Speaker 1: of all the investing tax advantages that are available to you, 644 00:30:34,640 --> 00:30:37,640 Speaker 1: No doubt. I love it, so Leslie, guilt free invest 645 00:30:37,680 --> 00:30:39,920 Speaker 1: in that rath as much as you can. And I 646 00:30:39,960 --> 00:30:41,880 Speaker 1: love that you and your husband are prioritizing investing for 647 00:30:41,920 --> 00:30:44,200 Speaker 1: the future to that great of an extent. Good job, 648 00:30:44,240 --> 00:30:46,080 Speaker 1: Good job to both of you. Also like the idea 649 00:30:46,080 --> 00:30:48,239 Speaker 1: of her going into her HR and saying, hey, can 650 00:30:48,240 --> 00:30:50,320 Speaker 1: you increase the amount of my salary that's going towards 651 00:30:50,320 --> 00:30:52,920 Speaker 1: my four O one K? Can maybe take that for fifty? 652 00:30:53,640 --> 00:30:56,760 Speaker 1: Like wait what? Who argue? Seriously like they're gonna look 653 00:30:56,760 --> 00:30:58,600 Speaker 1: at you sideways, But seriously, I mean, if that's the 654 00:30:58,640 --> 00:31:00,520 Speaker 1: position that you're in, if most of your bills are 655 00:31:00,560 --> 00:31:03,160 Speaker 1: being covered by your husband's income and you can completely 656 00:31:03,200 --> 00:31:05,640 Speaker 1: sock away every dollar that you're making, that's only going 657 00:31:05,720 --> 00:31:07,600 Speaker 1: to set you guys up to be in a fantastic 658 00:31:07,600 --> 00:31:09,360 Speaker 1: place way down the road, no doubt. All right, man, 659 00:31:09,400 --> 00:31:11,280 Speaker 1: let's get back to the beer that we had on 660 00:31:11,320 --> 00:31:13,240 Speaker 1: the show today. This one was called cash Flow. It 661 00:31:13,320 --> 00:31:16,240 Speaker 1: was a collaboration brewed by Two Tides Brewing in Savannah 662 00:31:16,440 --> 00:31:19,080 Speaker 1: and Jay Waitefield Brewing down in Florida. I've been to 663 00:31:19,120 --> 00:31:22,520 Speaker 1: two times a couple of times now and the Jay Wakefield. 664 00:31:22,520 --> 00:31:24,600 Speaker 1: Not to Jay Waitfield yet, but I do love Two 665 00:31:24,600 --> 00:31:27,680 Speaker 1: Tides man, It's like awesome spot. I love their beers too. 666 00:31:27,720 --> 00:31:29,120 Speaker 1: But yeah, what we thoughts on this beer was a 667 00:31:29,160 --> 00:31:33,360 Speaker 1: sour ale with mango, peach, raspberry, and vanilla. Yeah, quite fruity, 668 00:31:33,520 --> 00:31:35,800 Speaker 1: but quite smooth as well. It had a little bit 669 00:31:35,800 --> 00:31:37,560 Speaker 1: of chew to it, you know, with a vanilla kind 670 00:31:37,560 --> 00:31:39,920 Speaker 1: of smoothed it out. Made me think a lot of 671 00:31:39,960 --> 00:31:43,200 Speaker 1: the giant sweet Tearts that I mentioned this episode. Uh, 672 00:31:43,280 --> 00:31:45,600 Speaker 1: sort of like a sweet tart, sort of smarty, you know, 673 00:31:45,840 --> 00:31:48,600 Speaker 1: the little Smarties candy kind of combined. My mom like 674 00:31:48,680 --> 00:31:50,360 Speaker 1: this breeze, and I gotta agree with it that they 675 00:31:50,400 --> 00:31:52,640 Speaker 1: were pretty good. Yeah, spreezy good too, but yeah, man, 676 00:31:52,800 --> 00:31:55,000 Speaker 1: like it was super fruity, but it also had that 677 00:31:55,040 --> 00:31:57,760 Speaker 1: sort of weedy, chewy finish. Whenever there's a sour like 678 00:31:57,840 --> 00:31:59,120 Speaker 1: this that kind of has more of a what I 679 00:31:59,120 --> 00:32:02,040 Speaker 1: call it chewy finish, often reminds me of cereal, and 680 00:32:02,080 --> 00:32:04,440 Speaker 1: I like to call it the Captain crunch, uh finish, 681 00:32:05,240 --> 00:32:08,200 Speaker 1: because I swear it tastes like I'm eating Captain crush 682 00:32:08,240 --> 00:32:10,720 Speaker 1: a little bit there in the end, but uh, but yeah, 683 00:32:10,760 --> 00:32:13,480 Speaker 1: super good, really easy to drink with all the fruit 684 00:32:13,520 --> 00:32:14,840 Speaker 1: as well. It kind of made me think of like 685 00:32:14,880 --> 00:32:16,840 Speaker 1: a beer mosa maybe maybe think I was sitting there 686 00:32:16,880 --> 00:32:20,000 Speaker 1: at brunch kind of sipping on something there. That's probably 687 00:32:20,040 --> 00:32:22,560 Speaker 1: the perfect description, because yeah, sometimes yeah, they'll they'll they'll 688 00:32:22,600 --> 00:32:25,920 Speaker 1: blend beer champagne or whatever, and um, I think this, yeah, 689 00:32:25,960 --> 00:32:28,360 Speaker 1: definitely had some beer mosa vibes going on, And like 690 00:32:28,440 --> 00:32:30,200 Speaker 1: I just couldn't not pick this beer up when I 691 00:32:30,240 --> 00:32:32,200 Speaker 1: was at Two Tides because it's called cash Flow, Man, 692 00:32:32,200 --> 00:32:33,920 Speaker 1: it's got like dollar signs and dollar bills on it. 693 00:32:34,120 --> 00:32:35,880 Speaker 1: I was like, that's totally our kind of beer with 694 00:32:36,000 --> 00:32:38,280 Speaker 1: I assume the two owners of the two breweries. That's 695 00:32:38,280 --> 00:32:39,920 Speaker 1: gonna get a collaboration on the front of it. So 696 00:32:40,200 --> 00:32:43,400 Speaker 1: it kind of looks like our album artwork from our 697 00:32:43,400 --> 00:32:45,320 Speaker 1: podcast a little bit, a little bit not quiet, it's 698 00:32:45,320 --> 00:32:47,680 Speaker 1: not exact at all, but yeah, it kind of makes 699 00:32:47,680 --> 00:32:49,920 Speaker 1: me think of it. Yeah, yeah, but two great breweries 700 00:32:50,160 --> 00:32:52,960 Speaker 1: and man, unique flavors with all the fruit and the 701 00:32:53,040 --> 00:32:56,200 Speaker 1: lactose in their smooth and bright. I would say it 702 00:32:56,240 --> 00:32:58,280 Speaker 1: did have like some really bright notes because of all 703 00:32:58,280 --> 00:33:01,000 Speaker 1: the fruit. But yeah, unique and interesting too. I don't 704 00:33:01,000 --> 00:33:02,600 Speaker 1: know why they call this beer cash flow. I would 705 00:33:02,640 --> 00:33:05,000 Speaker 1: be curious to know, like the story behind the name 706 00:33:05,200 --> 00:33:07,520 Speaker 1: for why a beer that has like all this fruit 707 00:33:07,560 --> 00:33:09,440 Speaker 1: in it, Why why they need it that we're all 708 00:33:09,440 --> 00:33:11,400 Speaker 1: about cash flow and we're all about good beers, so 709 00:33:12,440 --> 00:33:15,280 Speaker 1: that's right. Maybe they knew that by introducing all that 710 00:33:15,280 --> 00:33:18,120 Speaker 1: fruit was actually gonna hurt their cash flow because sometimes 711 00:33:18,120 --> 00:33:19,640 Speaker 1: it costs a lot more to make these kind of beers. 712 00:33:19,640 --> 00:33:21,400 Speaker 1: That's true. But yeah, this one was really good. I'm 713 00:33:21,400 --> 00:33:22,640 Speaker 1: glad this is one that you picked up that we 714 00:33:22,680 --> 00:33:25,000 Speaker 1: got to share together. Listeners can find our show notes 715 00:33:25,080 --> 00:33:26,880 Speaker 1: up on our website at how the Money dot com. 716 00:33:27,120 --> 00:33:28,960 Speaker 1: For any of the resources that we mentioned during this episode. 717 00:33:28,960 --> 00:33:30,760 Speaker 1: Will make sure to include those that way, they're easy 718 00:33:30,760 --> 00:33:32,800 Speaker 1: to find so that you can learn more about how 719 00:33:32,800 --> 00:33:35,120 Speaker 1: to manage your money in a more effective way. Yeah, 720 00:33:35,160 --> 00:33:37,120 Speaker 1: and I gotta say too, we love listener questions. We 721 00:33:37,120 --> 00:33:40,080 Speaker 1: also love listener feedback, and like you mentioned at the 722 00:33:40,080 --> 00:33:42,680 Speaker 1: beginning of this episode, yeah, yeah, we love getting the emails. 723 00:33:42,720 --> 00:33:45,480 Speaker 1: But also to Matt, We love constructive criticism. So if 724 00:33:45,520 --> 00:33:47,200 Speaker 1: there's anybody out there who's been listening for a while 725 00:33:47,200 --> 00:33:48,960 Speaker 1: and they're like man, Matt and Joel need to step 726 00:33:49,000 --> 00:33:50,920 Speaker 1: their game up in one way or another. They need 727 00:33:50,920 --> 00:33:53,120 Speaker 1: to do better. Yeah, just go to how the Money 728 00:33:53,160 --> 00:33:55,080 Speaker 1: dot com slash do better. Drop us a line there, 729 00:33:55,080 --> 00:33:58,080 Speaker 1: because that helps us know what we can improve about 730 00:33:58,080 --> 00:34:00,640 Speaker 1: the about the show too, and we we appreciate in advance. 731 00:34:00,680 --> 00:34:03,560 Speaker 1: I appreciate your time and your your thoughtfulness in sending 732 00:34:03,880 --> 00:34:07,280 Speaker 1: that criticism, that hopefully helpful criticism our way. Yeah, most definitely. 733 00:34:07,280 --> 00:34:09,879 Speaker 1: All right, that's gonna do it for today's episode, Matt. 734 00:34:10,080 --> 00:34:13,720 Speaker 1: So until next time, best Friends Out, Best Friends Out.