1
00:00:00,080 --> 00:00:02,880
Speaker 1: Welcome to How the Money. I'm Joel and I am Matt.

2
00:00:03,040 --> 00:00:26,000
Speaker 1: Today we are answering your listener questions. That is right,

3
00:00:26,280 --> 00:00:29,880
Speaker 1: Listeners know that it's Monday, which means there's a fifty

4
00:00:30,240 --> 00:00:34,159
Speaker 1: chance of listener questions like the forecaster of How the

5
00:00:34,200 --> 00:00:39,000
Speaker 1: Money content of the time it works, But this is

6
00:00:39,040 --> 00:00:42,519
Speaker 1: a listener questions Monday. We've got five fantastic questions. We've

7
00:00:42,560 --> 00:00:45,720
Speaker 1: got a listener who's asking about micro jobs. She wants

8
00:00:45,760 --> 00:00:48,080
Speaker 1: to know the good, the bad, and the ugly. How

9
00:00:48,120 --> 00:00:51,000
Speaker 1: should she be thinking about them? A listener is asking

10
00:00:51,080 --> 00:00:54,360
Speaker 1: for maybe some some ways to be green while also

11
00:00:54,520 --> 00:00:58,280
Speaker 1: being budget conscious. We'll share our thoughts on that. And

12
00:00:58,320 --> 00:01:00,600
Speaker 1: another listener is at a cross road. He's trying to

13
00:01:00,640 --> 00:01:02,320
Speaker 1: figure out whether him and his wife whether they should

14
00:01:02,320 --> 00:01:04,560
Speaker 1: renovate their home or whether they should go ahead and

15
00:01:04,560 --> 00:01:07,120
Speaker 1: sell it. Yeah, we've got a few things to discuss

16
00:01:07,160 --> 00:01:09,360
Speaker 1: there as well. Plus two others looking forward to our

17
00:01:09,520 --> 00:01:11,720
Speaker 1: episode today, me too. All right, before we get to that,

18
00:01:11,840 --> 00:01:15,480
Speaker 1: at just one quick personal thing, Matt, I we obviously

19
00:01:15,520 --> 00:01:17,279
Speaker 1: we we talked about on the show how we moved

20
00:01:17,680 --> 00:01:19,880
Speaker 1: just about what like almost two months ago, that's right,

21
00:01:20,000 --> 00:01:23,880
Speaker 1: and two months anniversary, Yeah, And We're loving it up here,

22
00:01:23,880 --> 00:01:26,200
Speaker 1: by the way, we really enjoy our new places. We're

23
00:01:26,240 --> 00:01:28,160
Speaker 1: kind of meeting a lot of new folks. I feel

24
00:01:28,160 --> 00:01:30,520
Speaker 1: like my social calendar is like buzzing as I'm like

25
00:01:31,080 --> 00:01:33,320
Speaker 1: just trying to get to know people, which which is

26
00:01:33,360 --> 00:01:35,720
Speaker 1: a lot of fun for an extrovert like me. Okay,

27
00:01:36,000 --> 00:01:38,840
Speaker 1: we we literally just had a conversation about there's like

28
00:01:38,880 --> 00:01:42,120
Speaker 1: a certain sort of threshold, like a limitter governor that

29
00:01:42,160 --> 00:01:43,679
Speaker 1: we like to keep on our calendar, and we just

30
00:01:43,720 --> 00:01:46,360
Speaker 1: had a discussion of like, okay, too much. What would

31
00:01:46,360 --> 00:01:49,080
Speaker 1: it look like if we expanded that slightly because of

32
00:01:49,080 --> 00:01:50,840
Speaker 1: the season of life that we're in. Just like you said,

33
00:01:50,840 --> 00:01:52,840
Speaker 1: that's what we're feeling right now. Beginning of school, you're

34
00:01:52,840 --> 00:01:54,440
Speaker 1: meeting a lot of new folks and are I mean,

35
00:01:54,720 --> 00:01:57,280
Speaker 1: we've got three kids in elementary school this year, and

36
00:01:57,280 --> 00:02:00,440
Speaker 1: so that's three different classes, three different sets of friends,

37
00:02:00,840 --> 00:02:02,960
Speaker 1: and a lot of parents who are also like, hey,

38
00:02:03,280 --> 00:02:05,480
Speaker 1: we want to make sure that your kids are obviously

39
00:02:05,520 --> 00:02:07,400
Speaker 1: your kids cool, but let's let's see if y'all are cool.

40
00:02:07,960 --> 00:02:09,600
Speaker 1: Let's see if we're we can be friends. Can we

41
00:02:09,639 --> 00:02:12,080
Speaker 1: hang out dipping their toes in the halt mixed waters?

42
00:02:12,120 --> 00:02:14,079
Speaker 1: I like it all of that kind of stuff. Well,

43
00:02:14,120 --> 00:02:16,440
Speaker 1: so it's it's I totally agree. It's kind of a

44
00:02:16,480 --> 00:02:19,639
Speaker 1: necessary part explaining that social calendar as we're trying to

45
00:02:19,680 --> 00:02:22,280
Speaker 1: kind of meet people and make more friends up here.

46
00:02:22,360 --> 00:02:25,040
Speaker 1: But one thing that's not so cool, Matt is, for

47
00:02:25,080 --> 00:02:28,280
Speaker 1: some reason, every time I move, my internet provider charges

48
00:02:28,320 --> 00:02:31,520
Speaker 1: me more money, even though I'm locked into a rate

49
00:02:31,600 --> 00:02:33,200
Speaker 1: for like twelve months. I don't know if they think

50
00:02:33,240 --> 00:02:36,200
Speaker 1: I'm not going to notice what the new address. Okay,

51
00:02:36,200 --> 00:02:38,840
Speaker 1: so you held onto held on the same service. I've

52
00:02:38,840 --> 00:02:41,280
Speaker 1: got a T and T you had at the old places, right,

53
00:02:41,280 --> 00:02:43,760
Speaker 1: and you basically migrated it up here, that's right. Yeah,

54
00:02:43,760 --> 00:02:45,839
Speaker 1: and so they still had fiber where I was going,

55
00:02:45,880 --> 00:02:47,560
Speaker 1: and I've got the I don't know what I'm paid for.

56
00:02:47,600 --> 00:02:49,800
Speaker 1: I think I pay for the three meg service. Forty

57
00:02:49,800 --> 00:02:51,280
Speaker 1: bucks a month, I think is what I pay. And

58
00:02:51,280 --> 00:02:53,200
Speaker 1: then I get this first bill and it's seventy six

59
00:02:53,240 --> 00:02:55,320
Speaker 1: dollars and I was like, wait a second, guy, don't

60
00:02:55,320 --> 00:02:57,560
Speaker 1: think so we agreed on a price and so, um,

61
00:02:57,600 --> 00:03:00,400
Speaker 1: it's kind of frustrating. But every time I'm able to,

62
00:03:00,639 --> 00:03:02,799
Speaker 1: you know, go the Twitter routes and and d M

63
00:03:03,639 --> 00:03:05,680
Speaker 1: A T and T cares or whatever their handle is,

64
00:03:06,000 --> 00:03:08,080
Speaker 1: and and they help it, they take care of it

65
00:03:08,120 --> 00:03:10,000
Speaker 1: for me. But I just wanted to say, don't let

66
00:03:10,040 --> 00:03:13,440
Speaker 1: those things slip through the crack cracks, because extra thirty

67
00:03:13,480 --> 00:03:15,840
Speaker 1: six dollars a month, Matt, that's like over four dollars

68
00:03:16,000 --> 00:03:18,360
Speaker 1: a year. So did you did you talk them down

69
00:03:18,400 --> 00:03:20,359
Speaker 1: in price or did you hang on to the same

70
00:03:20,360 --> 00:03:22,239
Speaker 1: price and lower your speed? I hang not No, I

71
00:03:22,280 --> 00:03:24,120
Speaker 1: hung on the same price, and I kept kept a

72
00:03:24,120 --> 00:03:27,280
Speaker 1: speed the same. So but it was just wait same

73
00:03:27,320 --> 00:03:31,240
Speaker 1: price from before, and you've got faster the faster speed

74
00:03:31,240 --> 00:03:33,400
Speaker 1: and the same speed, same speed. Yeah, okay, nice, So

75
00:03:33,440 --> 00:03:35,160
Speaker 1: I basically kept the same exact deal. I'm not looking

76
00:03:35,160 --> 00:03:37,280
Speaker 1: for anything back. I'm just looking for the same rate

77
00:03:37,280 --> 00:03:39,680
Speaker 1: that we had agreed to beforehand, even though I moved. Okay,

78
00:03:39,720 --> 00:03:42,880
Speaker 1: so you've got you've got competition, right like, you've got

79
00:03:42,880 --> 00:03:45,280
Speaker 1: A T and T and you've got Comcast in our

80
00:03:45,440 --> 00:03:49,920
Speaker 1: little numbercolored a duopoly, which is not really competent, because

81
00:03:49,960 --> 00:03:52,559
Speaker 1: that's what's going on where we are, man. Uh, Comcast

82
00:03:52,720 --> 00:03:55,680
Speaker 1: is the only Exfinity, is the only service provider. The

83
00:03:56,240 --> 00:03:58,440
Speaker 1: speeds that A T and T offers are like in

84
00:03:58,480 --> 00:04:04,040
Speaker 1: the dial up range, was like, uh no, thank you gosh.

85
00:04:04,120 --> 00:04:05,640
Speaker 1: But I mean that being said, I mean, we're we're

86
00:04:05,680 --> 00:04:07,840
Speaker 1: we're paying forty bucks and we're we've got like the

87
00:04:07,920 --> 00:04:09,960
Speaker 1: hundred megabits per second. And we were just talking about

88
00:04:09,960 --> 00:04:12,720
Speaker 1: this recently. But like, honestly, I think for most people,

89
00:04:12,800 --> 00:04:16,760
Speaker 1: a hundred megabits per second is truly all that most

90
00:04:16,760 --> 00:04:19,360
Speaker 1: people need. I think before we used to think that, well,

91
00:04:19,400 --> 00:04:21,720
Speaker 1: we've got the kids watching TV and at the time,

92
00:04:21,760 --> 00:04:23,479
Speaker 1: we were recording down in the basement, and so we

93
00:04:23,480 --> 00:04:26,839
Speaker 1: were thinking, oh, with interviews and uploads and downloads, we

94
00:04:26,880 --> 00:04:28,680
Speaker 1: want to make sure that we don't overload the system.

95
00:04:28,680 --> 00:04:31,240
Speaker 1: We need that two gigs speed, right, No, we never

96
00:04:31,240 --> 00:04:33,599
Speaker 1: got that vast But seriously, if you I mean, in

97
00:04:33,640 --> 00:04:35,800
Speaker 1: my own experience, I have seen that one hundred has

98
00:04:35,800 --> 00:04:39,159
Speaker 1: been enough. But if you read around, a hundred is

99
00:04:39,200 --> 00:04:43,320
Speaker 1: plenty for multiple devices streaming HD content, even if someone

100
00:04:43,440 --> 00:04:45,800
Speaker 1: in the house is also gaming, it should be more

101
00:04:45,839 --> 00:04:48,839
Speaker 1: than enough. I think oftentimes it's less the Internet speed,

102
00:04:48,880 --> 00:04:51,400
Speaker 1: and it oftentimes comes down to like the placement of

103
00:04:51,400 --> 00:04:56,760
Speaker 1: a wireless router because folks like to yeah, yeah, when's

104
00:04:56,760 --> 00:04:59,240
Speaker 1: the last time you restarted that bad boy? It's been

105
00:04:59,279 --> 00:05:01,839
Speaker 1: a year it's like, Okay, maybe he should do the

106
00:05:02,000 --> 00:05:04,080
Speaker 1: software update. I think that's another good tip. So one

107
00:05:04,160 --> 00:05:05,960
Speaker 1: is to check your bill regularly to make sure that

108
00:05:05,960 --> 00:05:08,320
Speaker 1: you're not getting screwed when you agreed to a previous price.

109
00:05:08,320 --> 00:05:11,280
Speaker 1: But then the other is that you might be overpaying

110
00:05:11,320 --> 00:05:12,840
Speaker 1: for speeds that you don't need. You might be able

111
00:05:12,880 --> 00:05:15,280
Speaker 1: to decrease the speed. I think that's decrease the bill.

112
00:05:15,600 --> 00:05:17,400
Speaker 1: It's like horsepower on a car, Like I think most

113
00:05:17,400 --> 00:05:20,120
Speaker 1: people they'd be totally fine. I guess a hundred horsepower

114
00:05:20,120 --> 00:05:22,480
Speaker 1: doesn't work. Like you're totally fine with two hundred horse power.

115
00:05:22,680 --> 00:05:25,480
Speaker 1: I think most people commuting to work, that's gonna be enough.

116
00:05:25,720 --> 00:05:28,840
Speaker 1: You don't need a six hundred horsepower corvette, you know,

117
00:05:28,920 --> 00:05:31,480
Speaker 1: Like some folks want to pay for that because they

118
00:05:31,200 --> 00:05:34,400
Speaker 1: are they're into cars, that's their thing. But for everybody

119
00:05:34,400 --> 00:05:36,200
Speaker 1: else out there, for everybody who's just hauling the kids

120
00:05:36,200 --> 00:05:38,839
Speaker 1: to school, who's just making a run to Costco, you know,

121
00:05:38,880 --> 00:05:41,719
Speaker 1: the kind of things that we do. Four cylinder camera

122
00:05:41,800 --> 00:05:43,880
Speaker 1: works just on hundred horse power is going to be

123
00:05:43,920 --> 00:05:46,240
Speaker 1: more than enough. Yeah, for sure. All right, Well, Matt,

124
00:05:46,320 --> 00:05:48,400
Speaker 1: let's mention the beer that we're having on today's episode.

125
00:05:48,640 --> 00:05:51,920
Speaker 1: This is called row By Equilibrium Brewery. They're out of

126
00:05:52,000 --> 00:05:54,720
Speaker 1: New York, and we'll give our thoughts on this coffee

127
00:05:54,720 --> 00:05:57,920
Speaker 1: stout right and in the Emperial Coffee stout and LSA.

128
00:05:58,240 --> 00:06:00,960
Speaker 1: We poured this thing. It looks quite thick. I am

129
00:06:01,040 --> 00:06:03,200
Speaker 1: looking forward to enjoying this one though. Same. All right, Well,

130
00:06:03,240 --> 00:06:05,680
Speaker 1: let's move on, Matt, and let's get to listener questions.

131
00:06:05,720 --> 00:06:07,840
Speaker 1: If you have a question you want to ask us

132
00:06:07,880 --> 00:06:09,240
Speaker 1: on the show, we would love to take it, and

133
00:06:09,279 --> 00:06:11,240
Speaker 1: just go to how to money dot com slash ask.

134
00:06:11,600 --> 00:06:14,520
Speaker 1: There are simple instructions there for you to submit your

135
00:06:14,600 --> 00:06:16,680
Speaker 1: question so we can take it hopefully on the next

136
00:06:16,760 --> 00:06:20,240
Speaker 1: ask htm episode. Matt. Let's get to that first question,

137
00:06:20,600 --> 00:06:24,920
Speaker 1: which is about part time work. Hey, guys, love your show.

138
00:06:25,680 --> 00:06:30,719
Speaker 1: This is Susan in North Carolina. Uh am looking into

139
00:06:30,760 --> 00:06:36,200
Speaker 1: doing a part time job for supplemental income. And I've

140
00:06:36,240 --> 00:06:41,480
Speaker 1: just been looking around and I see micro jobs. Do

141
00:06:41,560 --> 00:06:46,679
Speaker 1: you know anything about micro jobs and are they worth it? Thanks?

142
00:06:47,360 --> 00:06:49,880
Speaker 1: Keep it up, guys, All right, Susan, thank you for

143
00:06:49,920 --> 00:06:52,799
Speaker 1: your question. And before we get serious here, micro jobs

144
00:06:52,839 --> 00:06:55,480
Speaker 1: actually makes me think of micro machines. Did you ever

145
00:06:55,920 --> 00:06:58,640
Speaker 1: remember those commercials? For sure? I think I played more

146
00:06:58,680 --> 00:07:01,320
Speaker 1: with hot wheels than micro machines. But yeah, but it's cool.

147
00:07:01,440 --> 00:07:03,960
Speaker 1: Did you have one of the hot wheels where when

148
00:07:03,960 --> 00:07:05,520
Speaker 1: it went through the pool at the bottom of the

149
00:07:05,600 --> 00:07:08,680
Speaker 1: ramp it change colors? No, you don't remember those. I

150
00:07:08,680 --> 00:07:10,600
Speaker 1: think I had to hand me down hot wheels. Joey

151
00:07:10,640 --> 00:07:12,440
Speaker 1: next door he had some of those, and they never

152
00:07:12,520 --> 00:07:14,640
Speaker 1: changed color like they did on the commercial. Like in

153
00:07:14,640 --> 00:07:16,679
Speaker 1: the commercial is like magic and all of a sudden

154
00:07:16,920 --> 00:07:19,480
Speaker 1: it's a completely new car. But the marketing in real

155
00:07:19,520 --> 00:07:21,360
Speaker 1: life it's like you have to sit there and watch

156
00:07:21,360 --> 00:07:25,280
Speaker 1: it for five minutes. It didn't happen nearly. It's quickly.

157
00:07:25,480 --> 00:07:28,520
Speaker 1: Um okay. But season micro jobs, you know, this is

158
00:07:28,920 --> 00:07:30,880
Speaker 1: a turn that I think we're going to see more of,

159
00:07:31,280 --> 00:07:34,080
Speaker 1: especially as the term gig work I feel like that's

160
00:07:34,080 --> 00:07:36,400
Speaker 1: falling out of favor a little bit. But micro jobs

161
00:07:36,400 --> 00:07:39,040
Speaker 1: they're typically just that, right. It's getting paid a little

162
00:07:39,080 --> 00:07:43,000
Speaker 1: bit of money in exchange for doing a gig or uh,

163
00:07:43,280 --> 00:07:45,560
Speaker 1: like taking an online survey something like that, or you know,

164
00:07:45,600 --> 00:07:48,680
Speaker 1: completing different random assignments. Uh. And so the question that

165
00:07:48,680 --> 00:07:51,080
Speaker 1: you're asking, are they a good thing? Well, it kind

166
00:07:51,080 --> 00:07:53,960
Speaker 1: of depends on what it is that you are looking for,

167
00:07:54,280 --> 00:07:57,120
Speaker 1: right Yeah, so for some people, micro jobs might be

168
00:07:57,240 --> 00:07:59,600
Speaker 1: the best thing ever, and for a lot of other people.

169
00:07:59,680 --> 00:08:01,920
Speaker 1: Probably for most other people, it's not going to be

170
00:08:02,000 --> 00:08:05,080
Speaker 1: what you're looking for because really you're you're just not

171
00:08:05,120 --> 00:08:07,960
Speaker 1: going to get rich or build a career by rounding

172
00:08:08,000 --> 00:08:10,120
Speaker 1: up a few different micro jobs. That's not going to

173
00:08:10,200 --> 00:08:13,720
Speaker 1: be the solution to most people's employment problems. And some

174
00:08:13,800 --> 00:08:16,760
Speaker 1: of the big biggest micro jobs out there are online

175
00:08:16,760 --> 00:08:19,560
Speaker 1: surveys Matt, like you mentioned, or doing tasks on a

176
00:08:19,600 --> 00:08:22,480
Speaker 1: site like im turk, which is owned by Amazon or

177
00:08:22,600 --> 00:08:25,080
Speaker 1: for mechanical turk, that's right, and so you can, yeah,

178
00:08:25,160 --> 00:08:27,800
Speaker 1: get all sorts of different uh tasks on there. You

179
00:08:27,800 --> 00:08:31,000
Speaker 1: can make you can make okay money, but it's nothing

180
00:08:31,040 --> 00:08:34,079
Speaker 1: to write home about. And other popular micro task platforms

181
00:08:34,120 --> 00:08:36,280
Speaker 1: like gig walk and time bucks are ones that you

182
00:08:36,320 --> 00:08:38,880
Speaker 1: can check out and uh, actually you know, but im

183
00:08:38,880 --> 00:08:41,600
Speaker 1: tark is by far the most popular. And my friend Michael,

184
00:08:41,640 --> 00:08:44,560
Speaker 1: he actually did some im turk experimentation. He wrote an

185
00:08:44,640 --> 00:08:47,560
Speaker 1: article about how to maximize your results because if you

186
00:08:47,600 --> 00:08:50,079
Speaker 1: do the wrong tasks on im turk, you might make

187
00:08:50,120 --> 00:08:53,160
Speaker 1: something like a dollar an hour or two dollars an hour,

188
00:08:53,440 --> 00:08:56,360
Speaker 1: and so his article will at least help you get

189
00:08:56,400 --> 00:08:59,160
Speaker 1: paid more. But still what he found even after like

190
00:08:59,200 --> 00:09:01,520
Speaker 1: a month of experience ending was that he was still

191
00:09:01,520 --> 00:09:04,760
Speaker 1: getting paid sub ten dollars an hour, which for most people,

192
00:09:05,120 --> 00:09:06,640
Speaker 1: um is, it isn't what they want to make. They

193
00:09:06,679 --> 00:09:08,240
Speaker 1: want to they wanna be able to make more money

194
00:09:08,280 --> 00:09:10,920
Speaker 1: than that. And when we're talking about taking online surveys,

195
00:09:11,120 --> 00:09:13,480
Speaker 1: they're often likely to let you even less than that.

196
00:09:13,600 --> 00:09:16,240
Speaker 1: So it sounds nice, we would say, to make money

197
00:09:16,360 --> 00:09:19,199
Speaker 1: in your pjs, but it's just not gonna be very profitable,

198
00:09:19,440 --> 00:09:21,920
Speaker 1: that's right, And especially as we've seen minimum wages on

199
00:09:21,960 --> 00:09:24,560
Speaker 1: the rise when it comes to a lot of part

200
00:09:24,559 --> 00:09:28,200
Speaker 1: time jobs, I think you might fare better if you

201
00:09:28,240 --> 00:09:30,120
Speaker 1: were to look at a more traditional people when you

202
00:09:30,120 --> 00:09:32,680
Speaker 1: just drive around looking at maybe the boards at the

203
00:09:32,679 --> 00:09:35,520
Speaker 1: fast food chains, you're starting to see just much higher

204
00:09:35,559 --> 00:09:38,920
Speaker 1: starting minimum salaries or minimum hourly exactly. Yeah, I will

205
00:09:38,960 --> 00:09:40,840
Speaker 1: say that the biggest part two micro jobs is that

206
00:09:40,880 --> 00:09:44,000
Speaker 1: you can take them whenever you feel like it, you know,

207
00:09:44,000 --> 00:09:45,840
Speaker 1: whenever it suits your fancy. It's kind of like being

208
00:09:46,120 --> 00:09:49,120
Speaker 1: a substitute teacher instead of a full time teacher. You

209
00:09:49,160 --> 00:09:50,720
Speaker 1: don't have to go when you get the call if

210
00:09:50,760 --> 00:09:53,800
Speaker 1: you're not feeling it. So if you value the flexibility

211
00:09:54,120 --> 00:09:57,760
Speaker 1: more than maximizing your hourly rate, micro jobs might make

212
00:09:57,800 --> 00:09:59,440
Speaker 1: the most sense for you. And you know they also

213
00:09:59,480 --> 00:10:01,320
Speaker 1: offered to give ability for you to to try your

214
00:10:01,360 --> 00:10:03,840
Speaker 1: hand and a few different things. You know, you're you're

215
00:10:03,880 --> 00:10:06,920
Speaker 1: not committing to anything for very long, uh, and you

216
00:10:06,960 --> 00:10:09,960
Speaker 1: can always mozium down the road if that that gig,

217
00:10:10,120 --> 00:10:12,240
Speaker 1: or if that task sucks, or if it's not paying

218
00:10:12,320 --> 00:10:14,640
Speaker 1: well enough, or if you just honestly, if you find

219
00:10:14,640 --> 00:10:16,720
Speaker 1: it boring. But I think that's one of the biggest

220
00:10:16,720 --> 00:10:19,560
Speaker 1: advantages is that you're able to try your hand at

221
00:10:19,640 --> 00:10:23,120
Speaker 1: so many different things, rather than just locking yourself up

222
00:10:23,120 --> 00:10:26,240
Speaker 1: committing yourself to a specific job or even an entire

223
00:10:26,360 --> 00:10:28,520
Speaker 1: career path when you may not even be sure that

224
00:10:28,520 --> 00:10:29,839
Speaker 1: that's something that you want to do. Like it makes

225
00:10:29,840 --> 00:10:32,520
Speaker 1: me think of college students who are forking over tens

226
00:10:32,520 --> 00:10:35,400
Speaker 1: of thousands of dollars to go down a path that

227
00:10:35,480 --> 00:10:38,040
Speaker 1: they may or may not pursue, right, And so what

228
00:10:38,160 --> 00:10:41,719
Speaker 1: better way to take like a nice alec Hartland where

229
00:10:41,720 --> 00:10:44,000
Speaker 1: you get to sample a little bit of everything, where

230
00:10:44,000 --> 00:10:46,040
Speaker 1: you get to taste and see some of the benefits

231
00:10:46,040 --> 00:10:50,520
Speaker 1: of lots of different industries. Than potential micro jobs. Yeah,

232
00:10:50,559 --> 00:10:52,800
Speaker 1: for sure. And one of the things Susan mentioned Matt

233
00:10:52,840 --> 00:10:54,880
Speaker 1: was that she was wanting a part time job for

234
00:10:54,920 --> 00:10:58,880
Speaker 1: supplemental income. And here's the thing, though, micro jobs they're

235
00:10:58,920 --> 00:11:01,440
Speaker 1: just not going to add an off supplement to that

236
00:11:01,520 --> 00:11:04,280
Speaker 1: income in our opinion for the most part. And that

237
00:11:04,320 --> 00:11:07,000
Speaker 1: doesn't mean that you can't get a remote job that's flexible,

238
00:11:07,360 --> 00:11:09,360
Speaker 1: but those just look a little bit different, so they

239
00:11:09,760 --> 00:11:12,000
Speaker 1: offer less of that novelty that you're talking about, Matt,

240
00:11:12,080 --> 00:11:14,959
Speaker 1: and and sometimes less of that flexibility. Although some of

241
00:11:15,000 --> 00:11:18,600
Speaker 1: those remote work jobs do offer a significant amount of flexibility,

242
00:11:18,640 --> 00:11:22,319
Speaker 1: but the income potential with a remote job is almost

243
00:11:22,360 --> 00:11:25,720
Speaker 1: always going to be significantly higher. More more traditional jobs,

244
00:11:25,720 --> 00:11:28,040
Speaker 1: obviously are work from home these days, as the economy

245
00:11:28,120 --> 00:11:30,640
Speaker 1: is kind of pivoted in that direction, and so job

246
00:11:30,679 --> 00:11:33,160
Speaker 1: hunting in the traditional manner can still make sense, but

247
00:11:33,240 --> 00:11:35,640
Speaker 1: you can also check out sites like flex jobs dot com,

248
00:11:35,640 --> 00:11:37,880
Speaker 1: which has been around for a number of years, in

249
00:11:37,960 --> 00:11:42,199
Speaker 1: order to find vetted work from home opportunities. And then, Susan,

250
00:11:42,240 --> 00:11:44,680
Speaker 1: if you want more of a happy medium, maybe micro

251
00:11:44,800 --> 00:11:47,840
Speaker 1: jobs that get you outside, like pet walking or pet sitting,

252
00:11:48,120 --> 00:11:50,079
Speaker 1: they can be a great way to make some side income,

253
00:11:50,520 --> 00:11:53,319
Speaker 1: or let's say, flipping and selling stuff on Facebook and

254
00:11:53,360 --> 00:11:55,320
Speaker 1: eBay instead of taking just the micro jobs that come

255
00:11:55,360 --> 00:11:57,920
Speaker 1: to you through these websites, finding a way to make

256
00:11:57,960 --> 00:12:01,160
Speaker 1: your own micro job that could be like the best

257
00:12:01,160 --> 00:12:03,880
Speaker 1: of all worlds for you, and and so much though

258
00:12:04,000 --> 00:12:06,280
Speaker 1: of of the answer to this question, what's gonna suit

259
00:12:06,320 --> 00:12:08,520
Speaker 1: you best is going to come down to how much

260
00:12:08,520 --> 00:12:10,400
Speaker 1: money you need to make the kind of work that

261
00:12:10,480 --> 00:12:13,559
Speaker 1: fits your specific interests and your experience, and how much

262
00:12:13,600 --> 00:12:15,920
Speaker 1: time you're willing to commit. The less you need money

263
00:12:15,920 --> 00:12:18,600
Speaker 1: and the more you need flexibility, the more microjobs make sense.

264
00:12:18,640 --> 00:12:21,439
Speaker 1: But for so many people, they need they need more

265
00:12:21,480 --> 00:12:24,120
Speaker 1: money per hour, and they're willing to be a little

266
00:12:24,160 --> 00:12:26,760
Speaker 1: less flexible in order to generate more income. Yeah, what

267
00:12:26,760 --> 00:12:28,840
Speaker 1: I like about what you just said about finding your

268
00:12:28,840 --> 00:12:31,880
Speaker 1: own micro job is how is basically who's in the

269
00:12:31,920 --> 00:12:34,440
Speaker 1: driver's scene, and that's you, right when you are going

270
00:12:34,440 --> 00:12:37,040
Speaker 1: out there trying to basically figure out what it is

271
00:12:37,040 --> 00:12:39,400
Speaker 1: that you want to do on your own terms. That's

272
00:12:39,440 --> 00:12:42,000
Speaker 1: the beginning of a business, right Like, that's the beginning

273
00:12:42,000 --> 00:12:44,960
Speaker 1: of you being a solo preneurs. Maybe you look at

274
00:12:45,000 --> 00:12:48,160
Speaker 1: some of these more passive micro jobs and you've discovered

275
00:12:48,200 --> 00:12:49,960
Speaker 1: what it is that you want to pursue. But then

276
00:12:50,000 --> 00:12:52,240
Speaker 1: you take that desire, maybe you even take that passion

277
00:12:52,480 --> 00:12:55,000
Speaker 1: to basically run your own small business, and who knows,

278
00:12:55,040 --> 00:12:57,120
Speaker 1: you might even be able to make a good bit

279
00:12:57,240 --> 00:13:00,000
Speaker 1: more money uh doing that than the full time job

280
00:13:00,080 --> 00:13:02,680
Speaker 1: that you currently have. Where where that becomes your full

281
00:13:02,679 --> 00:13:04,760
Speaker 1: time job. And one last thing too. You know, there

282
00:13:04,760 --> 00:13:07,120
Speaker 1: are a lot of real micro jobs out there that

283
00:13:07,200 --> 00:13:09,920
Speaker 1: will pay you real money, but the space is also

284
00:13:10,559 --> 00:13:13,360
Speaker 1: just a scammer's paradise. I kind of want to hear

285
00:13:13,440 --> 00:13:17,120
Speaker 1: Coolio saying that gangs for paradise. Uh. The main thing

286
00:13:17,200 --> 00:13:19,000
Speaker 1: that you need to know is that you should never

287
00:13:19,000 --> 00:13:21,600
Speaker 1: be sending money to anyone that is offering to hire

288
00:13:21,640 --> 00:13:24,240
Speaker 1: you for a micro job. They're supposed to be paying you,

289
00:13:24,520 --> 00:13:26,080
Speaker 1: not the other way around. And so that's gonna be

290
00:13:26,120 --> 00:13:28,679
Speaker 1: a big red flag to watch out floor to watch

291
00:13:28,720 --> 00:13:30,400
Speaker 1: out for. If they say, hey, you got to send

292
00:13:30,400 --> 00:13:32,480
Speaker 1: this amount of money into us in order to pay

293
00:13:32,520 --> 00:13:35,160
Speaker 1: for your training materials, or this is gonna be money,

294
00:13:35,240 --> 00:13:37,959
Speaker 1: this is gonna be your new work computer, and you

295
00:13:38,000 --> 00:13:39,319
Speaker 1: know we will make sure to send that to you.

296
00:13:39,760 --> 00:13:41,880
Speaker 1: These are all red flags, even if they have already

297
00:13:41,880 --> 00:13:44,679
Speaker 1: sent you money. And in particular, if they say that

298
00:13:44,720 --> 00:13:46,640
Speaker 1: they've been a check, they send you that check, and

299
00:13:46,679 --> 00:13:49,560
Speaker 1: then they're like, oh, actually we made a mistake. Could

300
00:13:49,559 --> 00:13:51,839
Speaker 1: you send half of that back to us? These are

301
00:13:51,840 --> 00:13:54,640
Speaker 1: all obvious red flags and so just you know, just

302
00:13:54,679 --> 00:13:58,480
Speaker 1: like hot wheels, in Joel's opinion, are better than micro machines. Clearly,

303
00:13:59,160 --> 00:14:01,319
Speaker 1: a legit part time job, we think is going to

304
00:14:01,440 --> 00:14:05,720
Speaker 1: suit most folks better than opting for a hodgepodge of

305
00:14:05,760 --> 00:14:08,959
Speaker 1: micro jobs to copple together some additional income, even though

306
00:14:09,000 --> 00:14:11,880
Speaker 1: there are some benefits to those. But if you do

307
00:14:11,960 --> 00:14:14,160
Speaker 1: go down that path, make sure it's maybe more on

308
00:14:14,200 --> 00:14:17,600
Speaker 1: a short term basis rather than the destination, right, Like

309
00:14:17,640 --> 00:14:20,040
Speaker 1: it's a means to an end, not the end itself. Well,

310
00:14:20,280 --> 00:14:22,120
Speaker 1: we talked about we did a whole episode on the

311
00:14:22,120 --> 00:14:24,000
Speaker 1: insidious nature of gig work. I don't know, this was

312
00:14:24,040 --> 00:14:26,920
Speaker 1: probably something like twelve eighteen months ago. And the reality

313
00:14:27,000 --> 00:14:29,000
Speaker 1: is when you're doing micro jobs, when you're doing gig work,

314
00:14:29,040 --> 00:14:31,600
Speaker 1: you're training time for money, and often times you're training

315
00:14:31,640 --> 00:14:33,920
Speaker 1: your time for not much money. And so what we

316
00:14:34,040 --> 00:14:36,680
Speaker 1: want is for you to find a way to to

317
00:14:36,840 --> 00:14:39,360
Speaker 1: have that flexibility, but to make more money. So maybe

318
00:14:39,360 --> 00:14:41,600
Speaker 1: you're able to end up pursuing something that you enjoy

319
00:14:41,680 --> 00:14:43,840
Speaker 1: more and then also provides more income. That's what we

320
00:14:43,840 --> 00:14:46,640
Speaker 1: want for Susan. And maybe those stock micro jobs that

321
00:14:46,640 --> 00:14:48,400
Speaker 1: they're gonna Issu's gonna get from m Turk or some

322
00:14:48,440 --> 00:14:51,000
Speaker 1: of those some of those other micro tesk platforms. I

323
00:14:51,000 --> 00:14:52,800
Speaker 1: don't think they're gonna cut it all. Right now, we've

324
00:14:52,800 --> 00:14:56,280
Speaker 1: got more questions to get to, including someone who wants

325
00:14:56,320 --> 00:14:58,880
Speaker 1: to know how do you think about your investments when

326
00:14:58,960 --> 00:15:02,400
Speaker 1: you're planning to reach financial independence early. We'll talk about

327
00:15:02,440 --> 00:15:13,480
Speaker 1: that and more right after this. All right, we are

328
00:15:13,520 --> 00:15:16,440
Speaker 1: back from the break taking listener questions, and before we

329
00:15:16,480 --> 00:15:20,160
Speaker 1: get to that financial independence early retirement question, Joel, we've

330
00:15:20,160 --> 00:15:22,880
Speaker 1: got a question from a listener who has a green

331
00:15:23,040 --> 00:15:25,880
Speaker 1: question for us Hi, Matt, and Joel. This is Jason

332
00:15:26,000 --> 00:15:28,960
Speaker 1: from Minneapolis. I've been listening for a long time and

333
00:15:29,000 --> 00:15:32,080
Speaker 1: thank you for all that you do. I wanted to

334
00:15:32,280 --> 00:15:35,560
Speaker 1: send you a friendly disagreement with some of the ways

335
00:15:35,880 --> 00:15:39,160
Speaker 1: that um IT has been talked about making life a

336
00:15:39,200 --> 00:15:43,720
Speaker 1: little bit more affordable in that sometimes the most the

337
00:15:43,800 --> 00:15:48,280
Speaker 1: cheapest option isn't always the best option for the environment,

338
00:15:48,360 --> 00:15:54,040
Speaker 1: the climate, and our consumers. Practices such as sometimes the

339
00:15:54,080 --> 00:15:57,760
Speaker 1: greener choice isn't the cheapest um such as buying an

340
00:15:57,760 --> 00:16:00,360
Speaker 1: e V car rather than a gas car, although an

341
00:16:00,360 --> 00:16:03,320
Speaker 1: evy car will be cheaper in the long run, and

342
00:16:03,920 --> 00:16:06,400
Speaker 1: a fruit a versus cheap moment I think would be

343
00:16:06,400 --> 00:16:09,400
Speaker 1: putting down turf on your lawn instead of maintaining a lawn,

344
00:16:09,800 --> 00:16:13,800
Speaker 1: because it can harm the earth beneath and also deny

345
00:16:13,960 --> 00:16:17,200
Speaker 1: our bug and animal um friends a place to live

346
00:16:17,400 --> 00:16:19,760
Speaker 1: and you know, hurt our environment if too many people

347
00:16:19,760 --> 00:16:22,800
Speaker 1: are doing that. I just wanted to see if you

348
00:16:22,840 --> 00:16:27,040
Speaker 1: could give any other examples of how being cost efficient

349
00:16:27,160 --> 00:16:31,240
Speaker 1: can also be a green and eco choice, and how

350
00:16:31,360 --> 00:16:36,160
Speaker 1: we can incorporate both prioritizing climate and less waste in

351
00:16:36,200 --> 00:16:41,040
Speaker 1: our lives while also being a frugal person. Thank you

352
00:16:41,080 --> 00:16:44,320
Speaker 1: so much, appreciate it, Oh, Matt, it's always It's actually

353
00:16:44,360 --> 00:16:48,640
Speaker 1: kind of nice to get a disagreement from disagreement, some

354
00:16:48,640 --> 00:16:51,120
Speaker 1: pushback from a listener. I'm like this, totally fine with that,

355
00:16:51,240 --> 00:16:53,840
Speaker 1: especially when it's friendly. As she mentioned that how she's

356
00:16:53,840 --> 00:16:56,680
Speaker 1: going to be friendly about hurling cuss words and accusations

357
00:16:56,680 --> 00:16:58,720
Speaker 1: are a way which we appreciate. Jason would be our

358
00:16:58,760 --> 00:17:03,120
Speaker 1: first explicit episode that we've ever have to label that

359
00:17:03,160 --> 00:17:06,520
Speaker 1: appropriately in Apple podcast always market clean. Hey we wait,

360
00:17:06,640 --> 00:17:11,720
Speaker 1: maybe we'll have a black label warning warning. Just take

361
00:17:11,720 --> 00:17:14,840
Speaker 1: the angriest how the money questions and air them all

362
00:17:14,880 --> 00:17:17,760
Speaker 1: in one episode. Well, yeah, Matt, and and part of

363
00:17:17,760 --> 00:17:19,840
Speaker 1: the reason I think we like this is because we

364
00:17:20,000 --> 00:17:23,159
Speaker 1: want to acknowledge that we have blind spots, that we

365
00:17:23,240 --> 00:17:26,520
Speaker 1: don't have everything right. We have a particular viewpoint based

366
00:17:26,520 --> 00:17:29,640
Speaker 1: around so many things, part of which is just our experience,

367
00:17:29,680 --> 00:17:31,879
Speaker 1: and so many of our listeners they bring a different

368
00:17:31,920 --> 00:17:35,000
Speaker 1: experience um to the to the table. And so I

369
00:17:35,000 --> 00:17:37,760
Speaker 1: think Jason spot On like the greenest choice, it's not

370
00:17:37,880 --> 00:17:41,280
Speaker 1: always the least expensive one. So let's discuss Yes, So

371
00:17:41,320 --> 00:17:43,920
Speaker 1: let's start with electric vehicles because she she mentioned that

372
00:17:44,359 --> 00:17:47,040
Speaker 1: we've always been a fan of evs, but we you know,

373
00:17:47,080 --> 00:17:49,159
Speaker 1: we kind of prefer actually, before we even get to

374
00:17:49,160 --> 00:17:52,480
Speaker 1: electric vehicles, how about electric bikes or even just regular bikes.

375
00:17:53,080 --> 00:17:56,000
Speaker 1: But electric vehicles are are great because there are a

376
00:17:56,000 --> 00:17:58,000
Speaker 1: lot of fun to drive. They can save you money

377
00:17:58,040 --> 00:18:00,440
Speaker 1: if you buy some of the more affordable mon even

378
00:18:00,440 --> 00:18:04,560
Speaker 1: though we've seen the price of electric vehicles skyrocketing, and

379
00:18:04,680 --> 00:18:06,520
Speaker 1: so and the reason one of the reasons we love

380
00:18:06,560 --> 00:18:09,240
Speaker 1: them is because they save you money over the course

381
00:18:09,240 --> 00:18:13,040
Speaker 1: of years because of the money that you're not spending

382
00:18:13,040 --> 00:18:15,359
Speaker 1: on gas and that you're not spending on maintenance. But

383
00:18:15,400 --> 00:18:17,600
Speaker 1: the interesting thing though, is that EV is actually they

384
00:18:17,680 --> 00:18:20,920
Speaker 1: do take a while to make sense from a green perspective.

385
00:18:20,960 --> 00:18:25,040
Speaker 1: Oftentimes experts agree that the lifetime emissions of an EV

386
00:18:25,560 --> 00:18:28,000
Speaker 1: will be listening out of a gas powered car or

387
00:18:28,240 --> 00:18:31,920
Speaker 1: an internal combustion engine vehicle an ice vehicle, which I

388
00:18:31,920 --> 00:18:33,960
Speaker 1: don't think that's ever gonna catch on as far as

389
00:18:34,000 --> 00:18:36,840
Speaker 1: how to say, it just doesn't sound like like internal

390
00:18:37,080 --> 00:18:40,000
Speaker 1: combustion sounds better to say, or gas power it sounds

391
00:18:40,040 --> 00:18:42,400
Speaker 1: better to say than ice. Like like when you say ice,

392
00:18:42,600 --> 00:18:44,600
Speaker 1: I don't ever think about other things too, Yeah, I don't.

393
00:18:44,600 --> 00:18:47,000
Speaker 1: I don't think of like that's running off of gasoline,

394
00:18:47,080 --> 00:18:49,880
Speaker 1: immigration control that goes by the ice acronym I forgot

395
00:18:49,880 --> 00:18:52,120
Speaker 1: about I think of I just think of ice. That's

396
00:18:52,119 --> 00:18:56,359
Speaker 1: hold ice cold. But it does take a while in

397
00:18:56,480 --> 00:18:59,240
Speaker 1: order for the lifetime emissions of an e V to

398
00:18:59,320 --> 00:19:02,520
Speaker 1: come out ahead at over an internal combustion car. So

399
00:19:02,640 --> 00:19:05,320
Speaker 1: it's something like seventy five miles in order to reach

400
00:19:05,359 --> 00:19:09,480
Speaker 1: that point. Uh and that's because the manufacturing of those batteries,

401
00:19:09,760 --> 00:19:12,640
Speaker 1: it takes a lot of energy. It's dirty work. But yes,

402
00:19:12,680 --> 00:19:14,720
Speaker 1: like that being said, we are glad that more folks

403
00:19:14,760 --> 00:19:17,560
Speaker 1: are adopting e vs, But this is an area where

404
00:19:17,720 --> 00:19:20,399
Speaker 1: thinking over a longer time period and not just at

405
00:19:20,440 --> 00:19:22,919
Speaker 1: the short term, right, because when you're just preoccupied with

406
00:19:23,000 --> 00:19:24,439
Speaker 1: just what's in front of you and what you have

407
00:19:24,480 --> 00:19:28,159
Speaker 1: to pay now, oftentimes that is when it's gonna it

408
00:19:28,160 --> 00:19:30,159
Speaker 1: will be more affordable maybe in the short term, but

409
00:19:30,200 --> 00:19:32,479
Speaker 1: over the long haul it'll actually end up costing you

410
00:19:32,520 --> 00:19:34,840
Speaker 1: more money, and oftentimes too, that is going to be

411
00:19:35,119 --> 00:19:38,159
Speaker 1: worse for the environment. Yeah. Yeah, And and you mentioned

412
00:19:38,160 --> 00:19:40,600
Speaker 1: the battery manufacturing mat and how that can be dirty.

413
00:19:40,640 --> 00:19:42,520
Speaker 1: But part of its two is it's so much of

414
00:19:42,640 --> 00:19:45,240
Speaker 1: the electricity we use is still generated by fossil fuels,

415
00:19:45,400 --> 00:19:49,479
Speaker 1: So it doesn't mean that you're necessarily kicking the bucket

416
00:19:49,520 --> 00:19:52,119
Speaker 1: on that altogether. And we do think evs are the future,

417
00:19:52,200 --> 00:19:55,800
Speaker 1: and when we eventually upgrade our gas guzzling minivans, we

418
00:19:55,840 --> 00:19:58,040
Speaker 1: will be looking to go electric. I had that Nissan Leaf.

419
00:19:58,080 --> 00:20:00,560
Speaker 1: I'm miss driving an electric car. It is, like you said,

420
00:20:00,600 --> 00:20:03,119
Speaker 1: a lot of fun, but upgrading now like ditching a

421
00:20:03,160 --> 00:20:06,119
Speaker 1: car that works perfectly fine. It's just not the smartest

422
00:20:06,119 --> 00:20:08,160
Speaker 1: financial move. And we would argue it's not the it's

423
00:20:08,200 --> 00:20:12,000
Speaker 1: not the most green friendly move either. And so yeah,

424
00:20:12,040 --> 00:20:14,520
Speaker 1: if you're throwing something perfectly good away in order to

425
00:20:14,680 --> 00:20:17,720
Speaker 1: quote unquote go green, it's probably not the greenest choice,

426
00:20:17,840 --> 00:20:19,520
Speaker 1: that's right, And so that's something we also want to

427
00:20:19,640 --> 00:20:21,520
Speaker 1: want to say, like, and that's something we've we've said

428
00:20:21,560 --> 00:20:23,919
Speaker 1: for years because let's say you're ripping up your hardwood

429
00:20:23,920 --> 00:20:27,879
Speaker 1: floors to install a more sustainable form of flooring in

430
00:20:27,960 --> 00:20:30,439
Speaker 1: bamboo flooring. And it might be true if you're building

431
00:20:30,480 --> 00:20:34,040
Speaker 1: new putting in bamboo flooring is a better way to

432
00:20:34,040 --> 00:20:37,680
Speaker 1: go from the standpoint of the planet, but that's not

433
00:20:37,760 --> 00:20:39,919
Speaker 1: the case if you're replacing company gets perfectly good in

434
00:20:39,920 --> 00:20:43,320
Speaker 1: your house now, keeping usable objects around for longer, keeping

435
00:20:43,359 --> 00:20:46,120
Speaker 1: them out of the landfill, and consuming less in general,

436
00:20:46,160 --> 00:20:48,560
Speaker 1: we would say is the greenest approach that all of

437
00:20:48,640 --> 00:20:50,639
Speaker 1: us can take. Yeah, I agreed. Yeah, So, for instance,

438
00:20:50,680 --> 00:20:53,200
Speaker 1: we we've talked about buying clothing right, and we talked

439
00:20:53,200 --> 00:20:55,360
Speaker 1: about opting for clothes. That last we talked about buying

440
00:20:55,480 --> 00:20:59,040
Speaker 1: quality over fast fashion, and because we feel that fast

441
00:20:59,040 --> 00:21:01,480
Speaker 1: fashion is actually add from your bottom line, and it's

442
00:21:01,520 --> 00:21:03,560
Speaker 1: bad for the earth. And you might not need twelve

443
00:21:03,560 --> 00:21:05,840
Speaker 1: pairs of genes that all have different cuts and uh

444
00:21:06,160 --> 00:21:09,280
Speaker 1: rip amounts on them. You just need one quality pair

445
00:21:09,440 --> 00:21:12,800
Speaker 1: of Japanese salvage denim. That's my favorite. But this also

446
00:21:12,840 --> 00:21:16,000
Speaker 1: initiates this abundance of consumerism, which is something that we're

447
00:21:16,080 --> 00:21:18,679
Speaker 1: we're not in favor of it. It starts this ball

448
00:21:18,840 --> 00:21:21,640
Speaker 1: rolling of behavior that we're trying to curb in our lives,

449
00:21:21,640 --> 00:21:23,520
Speaker 1: not only to save money, but also because it's it's

450
00:21:23,520 --> 00:21:25,840
Speaker 1: better for the planet. And you mentioned putting in a

451
00:21:25,880 --> 00:21:27,480
Speaker 1: turf law on This is something we've talked about on

452
00:21:27,520 --> 00:21:30,359
Speaker 1: the show before that some communities are doing in different

453
00:21:30,359 --> 00:21:33,119
Speaker 1: parts of the country. It's becoming more widely accepted. And

454
00:21:33,160 --> 00:21:37,040
Speaker 1: what's difficult here is like when you start asking the question, well,

455
00:21:37,080 --> 00:21:39,840
Speaker 1: like what is actually worse for the environment, because I

456
00:21:40,040 --> 00:21:43,080
Speaker 1: think oftentimes that there's like a pendulum and it swings

457
00:21:43,119 --> 00:21:46,040
Speaker 1: back and forth um or there's like a green initiative

458
00:21:46,080 --> 00:21:48,560
Speaker 1: that seems to be more important because it kind of

459
00:21:48,560 --> 00:21:50,800
Speaker 1: depends on on whose side you're on, right, Like are

460
00:21:50,800 --> 00:21:53,880
Speaker 1: you on the side of water conservation or are you

461
00:21:53,920 --> 00:21:56,320
Speaker 1: on the side of you know, like the pollinators and

462
00:21:56,359 --> 00:21:59,400
Speaker 1: bugs like you mentioned. And so it's difficult because I'm

463
00:21:59,400 --> 00:22:01,919
Speaker 1: a what thing, I'm an equal operativenity lover. It depends

464
00:22:01,920 --> 00:22:04,359
Speaker 1: on on on what green is to you. Like it

465
00:22:04,359 --> 00:22:06,199
Speaker 1: makes me think of E s G funds Joel right,

466
00:22:06,520 --> 00:22:09,600
Speaker 1: like environmental social governance funds that take these those things

467
00:22:09,640 --> 00:22:12,000
Speaker 1: into account. We have well spoken highly of them, most

468
00:22:12,000 --> 00:22:14,520
Speaker 1: of the right. Well, because what's e s G to

469
00:22:14,640 --> 00:22:16,920
Speaker 1: one person may not be e s G to somebody else,

470
00:22:17,160 --> 00:22:19,119
Speaker 1: and so a fund that might be environmentally friendly to

471
00:22:19,320 --> 00:22:22,440
Speaker 1: to one investor might be on another investor's naughty list.

472
00:22:22,480 --> 00:22:25,040
Speaker 1: Because we talked about Tesla getting moved out of the

473
00:22:25,080 --> 00:22:29,480
Speaker 1: snpi uh E s G fund and some of the

474
00:22:29,520 --> 00:22:32,360
Speaker 1: oil companies are still in there, and so to the

475
00:22:32,600 --> 00:22:35,640
Speaker 1: lay person investor, they're just like that does not compiled.

476
00:22:35,680 --> 00:22:39,200
Speaker 1: Does that make sense? I don't get it, Like yeah, unfortunately,

477
00:22:39,200 --> 00:22:40,960
Speaker 1: it's like it feels like it's a little bit political, right.

478
00:22:41,000 --> 00:22:43,040
Speaker 1: It makes me think of even so like green energy,

479
00:22:43,160 --> 00:22:46,440
Speaker 1: like that's something that is really being pushed right now. Uh,

480
00:22:46,480 --> 00:22:49,840
Speaker 1: the EU is reclassifying and we've talked about this before,

481
00:22:49,880 --> 00:22:53,440
Speaker 1: but nuclear energy as green energy when so it used

482
00:22:53,440 --> 00:22:55,440
Speaker 1: to not be green energy, but now it is green

483
00:22:55,520 --> 00:22:58,600
Speaker 1: energy like nuclear and natural gas. And so it's just

484
00:22:58,960 --> 00:23:00,879
Speaker 1: it's difficult because it's the games, Like some of these

485
00:23:01,160 --> 00:23:03,960
Speaker 1: green initiatives are at odds with each other. That's why

486
00:23:04,080 --> 00:23:06,439
Speaker 1: I think it can be difficult to say and to

487
00:23:06,520 --> 00:23:10,080
Speaker 1: make these large decisions and these large purchases and building

488
00:23:10,119 --> 00:23:13,360
Speaker 1: these industries around what's quote unquote green. Right, Like if

489
00:23:13,520 --> 00:23:16,520
Speaker 1: in a knee jerk moment, you can make a decision

490
00:23:16,560 --> 00:23:20,000
Speaker 1: between doing something that's more green than not, sure, go

491
00:23:20,000 --> 00:23:21,920
Speaker 1: go for the thing that's green. But when you're building

492
00:23:21,920 --> 00:23:25,120
Speaker 1: out these industries that cost I mean billions of dollars,

493
00:23:25,119 --> 00:23:28,080
Speaker 1: and people are spending money on items that end end

494
00:23:28,160 --> 00:23:30,280
Speaker 1: up in their houses that might over time end up

495
00:23:30,320 --> 00:23:32,720
Speaker 1: in the landfills. Not only can the financial costs be

496
00:23:32,760 --> 00:23:35,440
Speaker 1: really high, but maybe the cost of the planet might

497
00:23:35,440 --> 00:23:37,400
Speaker 1: be higher than we realize at the time as well.

498
00:23:37,440 --> 00:23:39,800
Speaker 1: It's just it's it's it feels like it's unclear to

499
00:23:39,840 --> 00:23:42,280
Speaker 1: know exactly what is green and what's not. Yeah, I agree,

500
00:23:42,320 --> 00:23:45,080
Speaker 1: it's not. It's not as easy to decipher as you

501
00:23:45,160 --> 00:23:48,240
Speaker 1: might think at first clients, and so I think it

502
00:23:48,000 --> 00:23:51,040
Speaker 1: it takes a lot of personal thought in order to

503
00:23:51,080 --> 00:23:54,280
Speaker 1: make the green decision that's best for for you and

504
00:23:54,320 --> 00:23:56,520
Speaker 1: for you know, the environment, right, and and it just

505
00:23:56,880 --> 00:23:58,640
Speaker 1: going back to kind of what I was talking about earlier. Man,

506
00:23:58,640 --> 00:24:00,760
Speaker 1: it makes me think of our friend Hatie Woke Stanley

507
00:24:00,760 --> 00:24:02,959
Speaker 1: who's been on the show before, and she goes by

508
00:24:02,960 --> 00:24:06,160
Speaker 1: the moniker, the non consumer advocate, and we win. She's

509
00:24:06,200 --> 00:24:09,320
Speaker 1: all about you, not consumer. That's right, and so we

510
00:24:09,359 --> 00:24:12,760
Speaker 1: think she rocks and we love her philosophy, which is

511
00:24:13,200 --> 00:24:15,399
Speaker 1: use it up, wear it out, make it do or

512
00:24:15,480 --> 00:24:18,240
Speaker 1: do without. And I think we could all stand to

513
00:24:18,359 --> 00:24:20,800
Speaker 1: live by that slogan a little bit more. I love it.

514
00:24:20,880 --> 00:24:23,240
Speaker 1: That's you know, why we talk about unconventional stuff like

515
00:24:23,280 --> 00:24:25,760
Speaker 1: reusing ziploc bags. It seems like one of those things,

516
00:24:25,880 --> 00:24:28,679
Speaker 1: super non sexy stuff. Yeah, it doesn't save you much money,

517
00:24:28,720 --> 00:24:30,960
Speaker 1: but it is helpful when it comes to the planet.

518
00:24:31,040 --> 00:24:33,760
Speaker 1: Or you know, maybe you just stop using ziplock bags altogether.

519
00:24:33,800 --> 00:24:37,000
Speaker 1: Maybe that's even a more green approach. But you know,

520
00:24:37,040 --> 00:24:38,760
Speaker 1: it's it's true that you and I we might not

521
00:24:38,800 --> 00:24:42,480
Speaker 1: be considered the most eco conscious dudes, but it definitely

522
00:24:42,480 --> 00:24:44,480
Speaker 1: crosses our mind. It's something that we think about and

523
00:24:44,600 --> 00:24:46,800
Speaker 1: it's something we do think is important. And how we

524
00:24:46,840 --> 00:24:50,040
Speaker 1: talk about consumption is largely it's largely based around helping

525
00:24:50,080 --> 00:24:52,560
Speaker 1: people achieve more financial freedom. That is our main goal.

526
00:24:52,880 --> 00:24:55,720
Speaker 1: But we do strive to offer advice that isn't detrimental

527
00:24:55,760 --> 00:24:58,440
Speaker 1: to the flourishing of our planet, right because Elon Muski

528
00:24:58,560 --> 00:25:01,159
Speaker 1: might get us to marrow someday. But this planet is

529
00:25:01,160 --> 00:25:03,240
Speaker 1: all we've got, and so we've got to do what

530
00:25:03,280 --> 00:25:05,000
Speaker 1: we can to take care of it. And the reality

531
00:25:05,119 --> 00:25:07,600
Speaker 1: is that not in every circumstance, but in many, the

532
00:25:07,640 --> 00:25:11,080
Speaker 1: greenest choice is actually the best long term financial choice

533
00:25:11,119 --> 00:25:13,880
Speaker 1: as well. But it's not always right because some people

534
00:25:14,000 --> 00:25:16,760
Speaker 1: might say, hey, buying an e V is green, and

535
00:25:16,800 --> 00:25:19,560
Speaker 1: so you might think ditching your perfectly fine car and

536
00:25:19,560 --> 00:25:22,600
Speaker 1: and adding another, putting another car on the road is

537
00:25:22,760 --> 00:25:24,600
Speaker 1: the most green possible thing you could do, when that

538
00:25:24,680 --> 00:25:26,280
Speaker 1: might not be the case, especially if you're only going

539
00:25:26,320 --> 00:25:27,920
Speaker 1: to own it for a couple of years. Um, the

540
00:25:28,200 --> 00:25:31,840
Speaker 1: ownership cycle matters. Are long term, intentional choices are what

541
00:25:31,960 --> 00:25:33,760
Speaker 1: matter here, and so I think Jayson is right to

542
00:25:33,800 --> 00:25:36,639
Speaker 1: point that out. Um. But it's it's complex, it's not easy,

543
00:25:36,880 --> 00:25:38,480
Speaker 1: although I think it's worth all of us kind of

544
00:25:38,480 --> 00:25:40,960
Speaker 1: wrestling with this question a little bit more. Yeah, Unfortunately,

545
00:25:41,280 --> 00:25:43,520
Speaker 1: for a lot of people are programmed to think that

546
00:25:44,080 --> 00:25:47,720
Speaker 1: like the green steps they should take, that they're real polished,

547
00:25:47,720 --> 00:25:49,880
Speaker 1: and that that it's sexy and that it's oftentimes something

548
00:25:49,920 --> 00:25:51,600
Speaker 1: that you can buy, like that that that the best

549
00:25:51,680 --> 00:25:55,840
Speaker 1: choice is a new purchase, and like that starts you

550
00:25:55,960 --> 00:25:58,280
Speaker 1: going down this path of thinking that the solution to

551
00:25:58,320 --> 00:26:01,520
Speaker 1: all of our problems like our new solutions, like either

552
00:26:01,560 --> 00:26:04,840
Speaker 1: new products or new services, as opposed to like our approach,

553
00:26:04,840 --> 00:26:07,600
Speaker 1: which is like, we don't need new solutions to old problems.

554
00:26:07,600 --> 00:26:09,480
Speaker 1: What we need to do is just reduce the number

555
00:26:09,480 --> 00:26:11,800
Speaker 1: of old problems that we are creating in the first place.

556
00:26:12,080 --> 00:26:15,760
Speaker 1: What's needed is just scaling backs, like simplifying things, say

557
00:26:15,760 --> 00:26:18,159
Speaker 1: something less less production, something as simple as living in

558
00:26:18,200 --> 00:26:21,040
Speaker 1: a smaller space. Yeah, less to heat and cool, like

559
00:26:21,880 --> 00:26:24,520
Speaker 1: less timber involved hanging onto your all of your old

560
00:26:24,560 --> 00:26:26,960
Speaker 1: clothes like it's it's it's not going out and buying

561
00:26:27,040 --> 00:26:31,800
Speaker 1: something new. It's like all the food you bring it. Yes, exactly,

562
00:26:31,840 --> 00:26:34,560
Speaker 1: like the amount of money that we spend that goes

563
00:26:34,720 --> 00:26:37,399
Speaker 1: ends up in the trash on wasted food, not only money,

564
00:26:37,400 --> 00:26:39,840
Speaker 1: but just the tons and tons of food that everyone

565
00:26:39,840 --> 00:26:41,760
Speaker 1: throws away. All those are good financial choices to all

566
00:26:41,760 --> 00:26:44,119
Speaker 1: of those things. Yeah, so Jason, thank you so much

567
00:26:44,160 --> 00:26:45,520
Speaker 1: for bringing this up. We didn't feel like we can

568
00:26:45,600 --> 00:26:47,480
Speaker 1: talk about it. Yeah, I feel like we gave like fewer,

569
00:26:47,640 --> 00:26:50,400
Speaker 1: harder examples and we're talking more about just a way

570
00:26:50,440 --> 00:26:52,240
Speaker 1: to think about it. There's a lot of hard examples

571
00:26:52,240 --> 00:26:54,960
Speaker 1: over Yeah, it's living a smaller space, drive fewer cars.

572
00:26:54,960 --> 00:26:56,720
Speaker 1: That's something we talk about, like down grade if you

573
00:26:56,800 --> 00:26:58,800
Speaker 1: if you get rid of one car from your life,

574
00:26:58,840 --> 00:27:01,280
Speaker 1: that's a good thing. And if you can keep your

575
00:27:01,280 --> 00:27:03,040
Speaker 1: clothes around longer, and if you can eat all of it, Like,

576
00:27:03,080 --> 00:27:05,960
Speaker 1: those are all really important things that are actually gonna

577
00:27:05,960 --> 00:27:08,240
Speaker 1: impact the environment and they're gonna help you save Yeah,

578
00:27:08,400 --> 00:27:10,080
Speaker 1: they are examples, Like I guess I'm thinking more of

579
00:27:10,119 --> 00:27:11,639
Speaker 1: like we're trying to we also want to teach you

580
00:27:11,680 --> 00:27:13,240
Speaker 1: how to fish, right like we we are giving you

581
00:27:13,240 --> 00:27:15,520
Speaker 1: a few fish for to snack one like right now,

582
00:27:15,640 --> 00:27:17,960
Speaker 1: But also think about things in this way because I

583
00:27:17,960 --> 00:27:20,760
Speaker 1: think that can have an impact on you, on your finances,

584
00:27:20,840 --> 00:27:22,720
Speaker 1: on the world for potentially the rest of your life

585
00:27:22,720 --> 00:27:24,680
Speaker 1: for sure. Yeah, alright, let's let's move on, Mat, Let's

586
00:27:24,680 --> 00:27:27,040
Speaker 1: get to our next question. This one is about how

587
00:27:27,119 --> 00:27:30,760
Speaker 1: to invest when you're not planning to work until you're sixty.

588
00:27:30,760 --> 00:27:33,440
Speaker 1: Hey Matt and Joel Brand from Minnesota, but a long

589
00:27:33,520 --> 00:27:35,720
Speaker 1: time listener and I have listened to all your episodes.

590
00:27:36,080 --> 00:27:38,840
Speaker 1: Greatly enjoy the show and the information that you both share.

591
00:27:39,119 --> 00:27:41,760
Speaker 1: It's spend a great deal of hope in my financial journey,

592
00:27:41,840 --> 00:27:46,000
Speaker 1: so thank you. My question is in regards to early retirement,

593
00:27:46,040 --> 00:27:48,680
Speaker 1: how to balance money between accounts to plan for that?

594
00:27:49,280 --> 00:27:51,639
Speaker 1: It is a goal of mine for financial independence and

595
00:27:52,440 --> 00:27:55,720
Speaker 1: f I to me would be part time work or

596
00:27:55,880 --> 00:27:58,200
Speaker 1: just the opportunity to leave a nine to five if

597
00:27:58,240 --> 00:28:01,280
Speaker 1: that's what I was feeling, is the right move. However,

598
00:28:01,480 --> 00:28:05,120
Speaker 1: without any current significant income streams besides the day job,

599
00:28:05,200 --> 00:28:06,960
Speaker 1: that might be a little tricky. If the part time

600
00:28:07,040 --> 00:28:11,360
Speaker 1: job isn't enough to cover expenses without additional income, say

601
00:28:11,400 --> 00:28:14,879
Speaker 1: from mental properties or other side businesses, where would you

602
00:28:14,880 --> 00:28:17,320
Speaker 1: suggest pulling money from at that time? If need be,

603
00:28:18,040 --> 00:28:20,440
Speaker 1: Do I focus a little more now on a brokerage

604
00:28:20,440 --> 00:28:24,359
Speaker 1: account while still getting company match and maxing out of

605
00:28:24,400 --> 00:28:27,680
Speaker 1: wrath so that that money would be accessible at that time.

606
00:28:28,720 --> 00:28:31,520
Speaker 1: On a side note, maybe you guys have thought about this,

607
00:28:31,560 --> 00:28:33,159
Speaker 1: but it would be cool to see a library of

608
00:28:33,240 --> 00:28:35,159
Speaker 1: all the beers that you drink on the show. I

609
00:28:35,160 --> 00:28:36,880
Speaker 1: would love to just look at a list and try

610
00:28:36,880 --> 00:28:39,959
Speaker 1: and find some of them to enjoy it myself. Thanks again.

611
00:28:40,560 --> 00:28:43,120
Speaker 1: All right, Brandon, thank you for your question. Angel did

612
00:28:43,160 --> 00:28:44,880
Speaker 1: By the way, did you notice that he said that

613
00:28:44,920 --> 00:28:48,800
Speaker 1: he's listened to all of our episodes? That impress's pretty awesome.

614
00:28:48,800 --> 00:28:51,440
Speaker 1: I don't wish that on my worst enemy, man. Uh.

615
00:28:51,480 --> 00:28:54,600
Speaker 1: And he mentioned the library of beers, like, honestly, the

616
00:28:54,600 --> 00:28:56,840
Speaker 1: the easiest way right now to see what we've had

617
00:28:56,840 --> 00:28:58,720
Speaker 1: to drink over the years is just by maybe scanning

618
00:28:58,720 --> 00:29:02,000
Speaker 1: our Instagram. I put the picture there of every beer

619
00:29:02,040 --> 00:29:04,520
Speaker 1: that we've had up there, and I actually I also

620
00:29:04,600 --> 00:29:07,200
Speaker 1: have a picture of every beer that we've had on

621
00:29:07,240 --> 00:29:10,880
Speaker 1: the show in a folder that contains all the assets,

622
00:29:10,880 --> 00:29:13,040
Speaker 1: all the images for our website, And so I can

623
00:29:13,080 --> 00:29:14,920
Speaker 1: quickly hop over to a folder and see how many

624
00:29:15,160 --> 00:29:18,440
Speaker 1: images are in there, which tells me how many beers

625
00:29:18,440 --> 00:29:20,160
Speaker 1: we've had. You want to take a guess as to

626
00:29:20,160 --> 00:29:23,960
Speaker 1: how many beers we've had? Eight Oh, way more than that, man,

627
00:29:24,640 --> 00:29:26,320
Speaker 1: because we haven't had we haven't had a beer for

628
00:29:26,360 --> 00:29:28,960
Speaker 1: every episode, because we don't have a beer on Friday flights.

629
00:29:28,960 --> 00:29:32,880
Speaker 1: Of course, we've had four different beers. Look at us,

630
00:29:34,120 --> 00:29:35,840
Speaker 1: aren't you so proud of us? It is amazing? All right,

631
00:29:35,880 --> 00:29:39,040
Speaker 1: I can't wait to get the five anyway. I just

632
00:29:39,080 --> 00:29:40,640
Speaker 1: wanted to share that because it just when you say

633
00:29:40,640 --> 00:29:42,280
Speaker 1: it like that, it just seems so ridiculous. Well, it

634
00:29:42,280 --> 00:29:44,800
Speaker 1: seems ridiculous that we've been podcasting like there were five

635
00:29:45,160 --> 00:29:47,200
Speaker 1: d and fifty something episodes deep like that is that

636
00:29:47,200 --> 00:29:49,400
Speaker 1: seems more realistic to me than four and twenty eight

637
00:29:49,480 --> 00:29:51,680
Speaker 1: different beers that we that that we've had on the show,

638
00:29:51,760 --> 00:29:54,440
Speaker 1: which is kind of mind blowing. But Brandon, I do

639
00:29:54,560 --> 00:29:57,960
Speaker 1: like the thirteen year plan for you to reach financial independence.

640
00:29:57,960 --> 00:30:01,800
Speaker 1: That's a killer goal, and your view of reaching financial independence,

641
00:30:01,800 --> 00:30:04,560
Speaker 1: it sounds like it aligns with our view, right because

642
00:30:04,840 --> 00:30:08,520
Speaker 1: we don't necessarily want to completely kick off, you know,

643
00:30:08,560 --> 00:30:11,360
Speaker 1: from work and not contribute to society at all. But

644
00:30:11,600 --> 00:30:14,240
Speaker 1: the ability to reach some sort of coast fire where

645
00:30:14,280 --> 00:30:16,160
Speaker 1: you have some options and maybe you're working a little

646
00:30:16,160 --> 00:30:18,560
Speaker 1: bit less, or maybe you are working in an area

647
00:30:18,680 --> 00:30:20,640
Speaker 1: where you're not making quite as much, but you find

648
00:30:20,640 --> 00:30:23,560
Speaker 1: it much more fulfilling. That's what we're all about. And

649
00:30:23,600 --> 00:30:26,200
Speaker 1: basically every step that you take that gets you closer

650
00:30:26,240 --> 00:30:28,840
Speaker 1: to financial independence. The more options you're going to have

651
00:30:28,920 --> 00:30:31,520
Speaker 1: at your disposal. Uh, you know, you are going to

652
00:30:31,560 --> 00:30:33,160
Speaker 1: have that ability to to leave a job or go

653
00:30:33,240 --> 00:30:36,120
Speaker 1: part time if you have enough money stashed away within

654
00:30:36,160 --> 00:30:39,600
Speaker 1: those investment accounts and you don't necessarily need to be

655
00:30:39,680 --> 00:30:43,000
Speaker 1: completely financially independent before you're able to make some of

656
00:30:43,000 --> 00:30:45,440
Speaker 1: those decisions. That's where we think the concept of peace

657
00:30:45,440 --> 00:30:48,760
Speaker 1: out money can even be a little more helpful. But basically,

658
00:30:48,880 --> 00:30:50,960
Speaker 1: you know, you don't have to have twenty five times

659
00:30:51,040 --> 00:30:54,479
Speaker 1: your annual expenses saved before you can start making some

660
00:30:54,560 --> 00:30:57,080
Speaker 1: meaningful changes to your work, to your life where you're

661
00:30:57,080 --> 00:30:59,440
Speaker 1: starting to be able to cut back on the hours

662
00:30:59,440 --> 00:31:01,160
Speaker 1: that you work a little bit. That's where I love

663
00:31:01,320 --> 00:31:03,400
Speaker 1: that concept of peace out money. I don't even remember

664
00:31:03,440 --> 00:31:05,240
Speaker 1: what episode it was that we talked about that Matt,

665
00:31:05,280 --> 00:31:07,120
Speaker 1: that was years ago, but it's one of those things

666
00:31:07,160 --> 00:31:10,880
Speaker 1: where like Beard number seventy five, Yeah, it's it's you

667
00:31:10,920 --> 00:31:14,000
Speaker 1: don't have to have that just massive amount of money

668
00:31:14,040 --> 00:31:16,800
Speaker 1: stocked away to where you can leave your job, quit

669
00:31:16,880 --> 00:31:19,600
Speaker 1: and do whatever you want. You can have enough money

670
00:31:19,600 --> 00:31:21,760
Speaker 1: put away that just gives you a lot more flexibility.

671
00:31:21,800 --> 00:31:23,840
Speaker 1: The meantime, Let's say you've saved up a year's worth

672
00:31:24,160 --> 00:31:26,200
Speaker 1: of expenses in cash, like, that's a lot of peace

673
00:31:26,200 --> 00:31:27,720
Speaker 1: out money gives you a lot of options that you

674
00:31:27,720 --> 00:31:30,120
Speaker 1: wouldn't have if you'd only saved up one month worth

675
00:31:30,120 --> 00:31:32,680
Speaker 1: of expensive But let's get to the heart of Brandon's question.

676
00:31:33,040 --> 00:31:36,040
Speaker 1: What accounts should he prioritize if he's wanting that ultimate

677
00:31:36,080 --> 00:31:38,960
Speaker 1: level of flexibility in just over a decade. Well, a

678
00:31:39,040 --> 00:31:42,560
Speaker 1: huge part of that is investing in accounts that he'll

679
00:31:42,600 --> 00:31:46,440
Speaker 1: actually be able to tap before he reaches retirements. And so, yeah,

680
00:31:46,440 --> 00:31:50,360
Speaker 1: Brandon mentioned roth ira A and brokerage account and that's

681
00:31:50,360 --> 00:31:52,840
Speaker 1: actually the perfect combo for folks who want to be

682
00:31:52,840 --> 00:31:55,480
Speaker 1: able to take money out before they reach retirement age.

683
00:31:55,720 --> 00:31:57,800
Speaker 1: And that's because Brandon is gonna be able to take

684
00:31:57,800 --> 00:32:02,440
Speaker 1: out those roth ira A contra abutions tax and penalty free.

685
00:32:02,720 --> 00:32:05,280
Speaker 1: And so if he goes to work part time, let's say, uh,

686
00:32:05,400 --> 00:32:08,080
Speaker 1: making half the income that he was making, he can

687
00:32:08,200 --> 00:32:11,040
Speaker 1: supplement some of his now smaller income by pulling out

688
00:32:11,080 --> 00:32:13,680
Speaker 1: funds that he's contributed to the RATH over the years.

689
00:32:14,040 --> 00:32:16,320
Speaker 1: The gains, however, would need to stay locked up until

690
00:32:16,560 --> 00:32:18,400
Speaker 1: he reached the age of fifty nine and a half

691
00:32:18,800 --> 00:32:21,880
Speaker 1: and then on the taxable brokerage fund. He'll pay capital

692
00:32:21,880 --> 00:32:25,240
Speaker 1: gains tax on realized earnings. But that's still a great

693
00:32:25,280 --> 00:32:29,120
Speaker 1: deal for ultimate flexibility to be able to sock money away,

694
00:32:29,200 --> 00:32:32,160
Speaker 1: lots of money into both of those accounts. He's going

695
00:32:32,200 --> 00:32:35,400
Speaker 1: to give Brandon more choices with when and how he

696
00:32:35,480 --> 00:32:37,560
Speaker 1: uses that. Monch's gonna give him fuel for the fire.

697
00:32:38,320 --> 00:32:41,200
Speaker 1: You like that, um, a little corny local like the pun.

698
00:32:41,280 --> 00:32:44,040
Speaker 1: It's fun fuel for the fire. Financial independence, retire early,

699
00:32:44,080 --> 00:32:47,480
Speaker 1: I'm not gonna judge, you know, putting money away and

700
00:32:47,480 --> 00:32:49,680
Speaker 1: by those accounts. That should be a major priority for

701
00:32:49,720 --> 00:32:53,000
Speaker 1: folks who are looking for more financial flexibility at an

702
00:32:53,040 --> 00:32:55,960
Speaker 1: earlier age. Uh. And you know you could also opt

703
00:32:56,000 --> 00:32:59,600
Speaker 1: to sock money away into a traditional IRA Brandon and

704
00:32:59,600 --> 00:33:03,200
Speaker 1: then come vert that money to a wrath. It's in

705
00:33:03,240 --> 00:33:06,400
Speaker 1: particular in years when you are earning a lot less money,

706
00:33:06,600 --> 00:33:08,160
Speaker 1: meaning that those dollars are going to be taxed at

707
00:33:08,160 --> 00:33:10,640
Speaker 1: a lower rate. This is a strategy worth considering, and

708
00:33:10,680 --> 00:33:13,760
Speaker 1: we'll link to a helpful and nuanced article from our

709
00:33:13,800 --> 00:33:16,440
Speaker 1: friend Brandon actually his name is Brandon as well, the

710
00:33:16,440 --> 00:33:19,600
Speaker 1: Mad Scientist about how to pull that off. The trick

711
00:33:19,880 --> 00:33:22,080
Speaker 1: there though, is that you have to season that money.

712
00:33:22,080 --> 00:33:24,360
Speaker 1: So you convert that money, it's gotta sit there for

713
00:33:24,400 --> 00:33:27,000
Speaker 1: five years, and so that's where the concept of creating

714
00:33:27,520 --> 00:33:30,880
Speaker 1: wrath conversion ladder comes in. You're able to every year

715
00:33:31,120 --> 00:33:32,960
Speaker 1: move some of that money over, convert some of that

716
00:33:33,000 --> 00:33:36,400
Speaker 1: money into roth IRA money, and all of those contributions

717
00:33:36,520 --> 00:33:39,400
Speaker 1: count as roth IRA contributions. You're not limited to that

718
00:33:39,840 --> 00:33:44,280
Speaker 1: typical six thousand dollars. And the real kicker is that

719
00:33:44,360 --> 00:33:45,720
Speaker 1: you are able to do this not just with the

720
00:33:45,760 --> 00:33:49,040
Speaker 1: traditional IRA, but also with a four oh win K because,

721
00:33:49,320 --> 00:33:52,880
Speaker 1: like most folks know, there are higher contribution limits within

722
00:33:52,920 --> 00:33:55,240
Speaker 1: a four one K. So if you have a a

723
00:33:55,280 --> 00:33:57,080
Speaker 1: lot of earners, they've got a lot more money stashed

724
00:33:57,080 --> 00:33:58,840
Speaker 1: away within their four o one K, and so they

725
00:33:58,880 --> 00:34:01,840
Speaker 1: have the ability to the and convert those funds from

726
00:34:01,880 --> 00:34:04,240
Speaker 1: a four one K into a roth IRA, and all

727
00:34:04,240 --> 00:34:06,520
Speaker 1: of a sudden, you've got these contributions that you can

728
00:34:06,600 --> 00:34:09,359
Speaker 1: draw on tax free. Uh. And one other thing too,

729
00:34:09,440 --> 00:34:13,160
Speaker 1: if you have an hs A, that's another great account

730
00:34:13,200 --> 00:34:16,120
Speaker 1: that offers a lot of flexibility and a lot of

731
00:34:16,239 --> 00:34:20,600
Speaker 1: tax efficiency for potential early retirees. They don't get enough

732
00:34:20,680 --> 00:34:23,480
Speaker 1: love or recognition, mainly because I think they require a

733
00:34:23,520 --> 00:34:25,520
Speaker 1: little more leg work. You've got to keep those receipts.

734
00:34:25,719 --> 00:34:28,960
Speaker 1: You have to be able to document the health expenses

735
00:34:29,440 --> 00:34:31,839
Speaker 1: along the way in order to pull that money out

736
00:34:31,840 --> 00:34:33,680
Speaker 1: tax free down the road. The branding kind of sucks

737
00:34:33,680 --> 00:34:36,560
Speaker 1: on them too, sadly. Yeah, exactly. Health giving these accounts

738
00:34:36,600 --> 00:34:38,320
Speaker 1: make the branding little sex here. People would be like,

739
00:34:38,400 --> 00:34:40,480
Speaker 1: wait a second, Oh yeah, I definitely want to participate

740
00:34:40,480 --> 00:34:42,440
Speaker 1: in that. But if that was the case, then the

741
00:34:42,560 --> 00:34:44,520
Speaker 1: I R S also might put it in its cross

742
00:34:44,560 --> 00:34:47,440
Speaker 1: hairs and potentially eliminate it. Hopefully not, because it's it's

743
00:34:47,440 --> 00:34:49,560
Speaker 1: difficult for them to walk some of these provisions and

744
00:34:49,600 --> 00:34:51,799
Speaker 1: benefits back once they are kind of out there, once

745
00:34:52,040 --> 00:34:55,319
Speaker 1: Pandora's box has been open. But also, Brandon, consider an

746
00:34:55,520 --> 00:34:57,440
Speaker 1: hs A because that could be a great way for

747
00:34:57,520 --> 00:35:00,799
Speaker 1: you to sock aside some additional money re single year. Yeah,

748
00:35:00,840 --> 00:35:03,120
Speaker 1: so Brandon, hopefully, hopefully all that was helpful, A lot

749
00:35:03,160 --> 00:35:05,560
Speaker 1: of food for thought. We've got the RATH option, we've

750
00:35:05,640 --> 00:35:07,440
Speaker 1: got the brokerage account, but then we've also got the

751
00:35:07,840 --> 00:35:10,800
Speaker 1: traditional stocker money away in those traditional retirement accounts and

752
00:35:10,920 --> 00:35:13,600
Speaker 1: then converting at a later date in order to hopefully

753
00:35:14,040 --> 00:35:16,759
Speaker 1: lessen that tax bill even more and I would say

754
00:35:16,800 --> 00:35:20,120
Speaker 1: Matt that Brandon's goal here, it's ambitious, but doable for

755
00:35:20,320 --> 00:35:22,439
Speaker 1: a decent chunk of folks. Like we want to see

756
00:35:22,480 --> 00:35:24,880
Speaker 1: our listeners investing more of the money they're bringing in

757
00:35:25,320 --> 00:35:28,040
Speaker 1: so that they have more flexibility. But here's the other

758
00:35:28,120 --> 00:35:30,240
Speaker 1: thing that that really does need to be mentioned. Investing

759
00:35:30,320 --> 00:35:33,000
Speaker 1: for a longer retirement can actually be a little bit

760
00:35:33,040 --> 00:35:35,200
Speaker 1: more difficult, right, And and it's because not only do

761
00:35:35,280 --> 00:35:37,480
Speaker 1: we have to plan for those years or possibly even

762
00:35:37,600 --> 00:35:40,719
Speaker 1: decades before reaching full retirement age. Let's say Brandon does

763
00:35:40,800 --> 00:35:44,000
Speaker 1: want to quit work at thirty five or forty, uh,

764
00:35:44,200 --> 00:35:46,759
Speaker 1: he's also gotta have money stocked away not just for

765
00:35:47,760 --> 00:35:50,359
Speaker 1: until he reaches traditional retirement age, but also for all

766
00:35:50,400 --> 00:35:53,560
Speaker 1: of those actual retirement decades to when he's probably going

767
00:35:53,600 --> 00:35:55,439
Speaker 1: to be less likely to work and have an earned income.

768
00:35:55,440 --> 00:35:58,239
Speaker 1: That's right, And so it sounds like he is doing that.

769
00:35:58,400 --> 00:36:00,440
Speaker 1: He's investing and at least enough to at the company

770
00:36:00,480 --> 00:36:02,600
Speaker 1: match in his four own K. But just because you

771
00:36:02,680 --> 00:36:05,080
Speaker 1: want to retire early or you want to tap some

772
00:36:05,160 --> 00:36:08,560
Speaker 1: of those investment accounts before you reach that age, it

773
00:36:08,640 --> 00:36:11,400
Speaker 1: doesn't mean you don't still need to prioritize the accounts

774
00:36:11,440 --> 00:36:13,480
Speaker 1: that you can't touch until a later date because it's

775
00:36:13,520 --> 00:36:16,120
Speaker 1: still it's still crucial to start building up that nest

776
00:36:16,160 --> 00:36:18,839
Speaker 1: egg for those future decades as well. That's right, man.

777
00:36:18,880 --> 00:36:20,359
Speaker 1: Plus he's got to make sure he's got enough money

778
00:36:20,360 --> 00:36:23,319
Speaker 1: set aside for those decades of life he's gonna live

779
00:36:23,560 --> 00:36:26,399
Speaker 1: even beyond a hundred years old, because in sixty years,

780
00:36:26,520 --> 00:36:28,960
Speaker 1: can you imagine the health we're gonna be injecting all

781
00:36:29,000 --> 00:36:31,080
Speaker 1: sorts of stuff. Did you do did you see the

782
00:36:31,080 --> 00:36:33,680
Speaker 1: story about those pigs coming back to life? This is

783
00:36:33,719 --> 00:36:35,759
Speaker 1: a few weeks ago. Oh yeah, I did see that.

784
00:36:35,840 --> 00:36:37,560
Speaker 1: I did see that these pigs are dead, and they're like,

785
00:36:37,840 --> 00:36:40,520
Speaker 1: and they ejected start doing this to humans, the seriom

786
00:36:40,560 --> 00:36:42,560
Speaker 1: into them, and they came back to life. And they're like,

787
00:36:42,640 --> 00:36:44,760
Speaker 1: let's not talk about that. That sounds like a terrible

788
00:36:44,840 --> 00:36:50,040
Speaker 1: ideas talking about zombies. Man. Anyway, enough of all that,

789
00:36:50,120 --> 00:36:51,840
Speaker 1: We've got a couple other questions we're going to get to,

790
00:36:52,040 --> 00:36:56,200
Speaker 1: including a listener who wants to know what the taxes

791
00:36:56,239 --> 00:36:58,719
Speaker 1: are going to run him on money that he wants

792
00:36:58,760 --> 00:37:01,239
Speaker 1: to invest within a off I ra A. We'll get

793
00:37:01,280 --> 00:37:13,279
Speaker 1: to that, plus another right after this. Alright, let's keep rolling.

794
00:37:13,360 --> 00:37:15,319
Speaker 1: Let's keep taking listen our questions and before we get

795
00:37:15,360 --> 00:37:17,799
Speaker 1: to that interesting roth Hire a question, we've got one

796
00:37:17,960 --> 00:37:21,040
Speaker 1: about selling a house and just because it needs a

797
00:37:21,080 --> 00:37:22,239
Speaker 1: lot of work done to it, is that not a

798
00:37:22,280 --> 00:37:26,320
Speaker 1: good idea? Hello, this is Brian from Boise, currently in

799
00:37:26,440 --> 00:37:29,600
Speaker 1: money gear five. My wife and I have purchased a

800
00:37:29,680 --> 00:37:32,760
Speaker 1: house here in twenty nineteen, right before the market surge,

801
00:37:33,320 --> 00:37:36,520
Speaker 1: and we have since seen a hundred fifty dollar equity

802
00:37:36,600 --> 00:37:40,239
Speaker 1: gain pretty much due to our location. Now we are

803
00:37:40,320 --> 00:37:43,640
Speaker 1: kind of at a crossroad. Within the next five years,

804
00:37:43,719 --> 00:37:45,960
Speaker 1: we will need to replace all the plumbing and the

805
00:37:46,160 --> 00:37:49,120
Speaker 1: HVAC system in the home. In addition to that, we

806
00:37:49,200 --> 00:37:52,960
Speaker 1: were planning on updating the kitchen. The crossroad is we

807
00:37:53,040 --> 00:37:55,799
Speaker 1: could sell the house as is for the same price

808
00:37:55,880 --> 00:37:58,240
Speaker 1: that we could sell it if all those were updated.

809
00:37:58,920 --> 00:38:02,640
Speaker 1: Our prices seems to be purely driven by location. On

810
00:38:02,840 --> 00:38:05,600
Speaker 1: top of that, most owners in the neighborhood don't even

811
00:38:05,719 --> 00:38:09,880
Speaker 1: keep up regular maintenance and the houses are dilapidating at best,

812
00:38:10,280 --> 00:38:12,760
Speaker 1: putting us in that weird position of having the nicest

813
00:38:12,800 --> 00:38:15,480
Speaker 1: house in the worst neighborhood as opposed to having the

814
00:38:15,560 --> 00:38:19,239
Speaker 1: worst house in the best neighborhood. My gut tells me

815
00:38:19,320 --> 00:38:21,760
Speaker 1: that we should sell as is and use the equity

816
00:38:21,760 --> 00:38:25,080
Speaker 1: as a down payment on another home. Could dilapidating houses

817
00:38:25,160 --> 00:38:29,040
Speaker 1: really overpower location or am I just being paranoid? On

818
00:38:29,200 --> 00:38:31,799
Speaker 1: top of that, our current interest rate is two point

819
00:38:31,920 --> 00:38:35,400
Speaker 1: nine percent, whereas the going rate as of writing this

820
00:38:35,760 --> 00:38:39,160
Speaker 1: is five point to five. Thanks for your help. So

821
00:38:39,719 --> 00:38:41,840
Speaker 1: it sounds like Brian kind of time that house purchase

822
00:38:42,360 --> 00:38:46,360
Speaker 1: exactly right. Boise has had, man, it's like essentially the

823
00:38:46,400 --> 00:38:48,239
Speaker 1: hottest housing market in the country over the past couple

824
00:38:48,280 --> 00:38:50,440
Speaker 1: of years, so much show that even Kayt and I

825
00:38:50,480 --> 00:38:52,520
Speaker 1: we're we're thinking, oh, maybe we should live out there,

826
00:38:52,719 --> 00:38:55,160
Speaker 1: you know what, everybody's going there? Why not? Which is

827
00:38:55,280 --> 00:38:57,280
Speaker 1: like the exact roll. The reason why not is because

828
00:38:57,320 --> 00:38:59,360
Speaker 1: now houses are expensive and you gotta you gotta make

829
00:38:59,400 --> 00:39:02,480
Speaker 1: sure that use instead of zig um. Sometimes you're in

830
00:39:02,520 --> 00:39:04,640
Speaker 1: the right place at the right time though, and Brian

831
00:39:04,760 --> 00:39:07,000
Speaker 1: definitely was able to pull that off, so nicely done.

832
00:39:07,640 --> 00:39:09,440
Speaker 1: But you know, it's interesting that you said that you

833
00:39:09,480 --> 00:39:11,759
Speaker 1: can sell the house for the same price without doing

834
00:39:11,760 --> 00:39:14,279
Speaker 1: any updates, Brian, because some folks might be like they

835
00:39:14,320 --> 00:39:16,400
Speaker 1: might be saying, like, huh, it's kind of weird, but

836
00:39:16,600 --> 00:39:19,879
Speaker 1: that really can be true. Because price per square foot

837
00:39:20,120 --> 00:39:23,160
Speaker 1: that is often the most popular metric for determining the

838
00:39:23,239 --> 00:39:26,160
Speaker 1: cost of a home. Uh. And that's why renovations they

839
00:39:26,160 --> 00:39:29,400
Speaker 1: often don't provide a dollar for dollar return and oftentimes

840
00:39:29,480 --> 00:39:32,840
Speaker 1: far from it. And that's especially true for renovations that

841
00:39:32,880 --> 00:39:36,000
Speaker 1: are basically going to be invisible to the buyer, things

842
00:39:36,120 --> 00:39:38,480
Speaker 1: like the h VAC like you mentioned, or or plumbing

843
00:39:38,880 --> 00:39:41,600
Speaker 1: like that's reassuring for you once you live there. But

844
00:39:41,719 --> 00:39:44,920
Speaker 1: even though you dropped like fifteen dollars to to replumb

845
00:39:44,920 --> 00:39:47,640
Speaker 1: the entire house, like you you, you likely won't see

846
00:39:47,719 --> 00:39:49,879
Speaker 1: that much of a bump in price for it were

847
00:39:49,880 --> 00:39:51,320
Speaker 1: you to sell that house. It makes me think of

848
00:39:51,640 --> 00:39:53,960
Speaker 1: the not the house that we most recently map, but

849
00:39:54,000 --> 00:39:56,399
Speaker 1: the one before it. There were there were all sorts

850
00:39:56,440 --> 00:39:58,800
Speaker 1: of cosmetic updates that had not been made. Like the

851
00:39:58,920 --> 00:40:01,400
Speaker 1: kitchen was it like literally just a stove in a

852
00:40:01,440 --> 00:40:04,920
Speaker 1: sink in there. There was no cabinetry straight from the sixties. Yeah,

853
00:40:04,960 --> 00:40:07,759
Speaker 1: the walls had not been painted in probably forty years,

854
00:40:07,840 --> 00:40:09,640
Speaker 1: and so there's just a lot of like work that

855
00:40:09,719 --> 00:40:12,000
Speaker 1: needed to be done in that regard. But for some

856
00:40:12,080 --> 00:40:14,240
Speaker 1: reason they had done all these other things like spray

857
00:40:14,280 --> 00:40:16,919
Speaker 1: home installation and there were a lot of like water

858
00:40:17,040 --> 00:40:19,000
Speaker 1: issues that they had had fixed, and you could tell

859
00:40:19,040 --> 00:40:20,719
Speaker 1: they spent quite a bit of money on those things.

860
00:40:20,960 --> 00:40:23,040
Speaker 1: But those are the kind of things that most homebuyers

861
00:40:23,239 --> 00:40:25,560
Speaker 1: don't really notice the same degree it, don't value that

862
00:40:25,640 --> 00:40:28,040
Speaker 1: as and so for me, I'm like, Wow, this is

863
00:40:28,080 --> 00:40:29,720
Speaker 1: gonna save me a lot of money. This is awesome,

864
00:40:30,000 --> 00:40:31,799
Speaker 1: and I'm so glad that they took care of these things.

865
00:40:32,120 --> 00:40:33,480
Speaker 1: And then I was able to add value in the

866
00:40:33,480 --> 00:40:36,520
Speaker 1: ways that people actually care about, which was by painting

867
00:40:36,680 --> 00:40:39,080
Speaker 1: and like having a kitchen, cabinetry and countertops, you're gonna

868
00:40:39,080 --> 00:40:42,319
Speaker 1: look pretty. Yeah, getting some modern bathrooms up in that joint. Yeah,

869
00:40:42,600 --> 00:40:45,480
Speaker 1: But that's most people just don't care about those things.

870
00:40:45,840 --> 00:40:47,920
Speaker 1: They're not nearly as influential to the price as you

871
00:40:48,000 --> 00:40:50,880
Speaker 1: might think. And so if Brian feels like his neighborhood

872
00:40:51,120 --> 00:40:54,239
Speaker 1: is going downhill, I think that's another important consideration for

873
00:40:54,400 --> 00:40:58,080
Speaker 1: him to make, because the old adage is true, owning

874
00:40:58,160 --> 00:41:00,839
Speaker 1: the nicest house in the neighborhood isn't a good thing.

875
00:41:01,120 --> 00:41:02,600
Speaker 1: And so if you sink a bunch of money into

876
00:41:02,640 --> 00:41:05,600
Speaker 1: that home, Brian and the neighborhoods already kind of struggling.

877
00:41:05,760 --> 00:41:08,520
Speaker 1: It seemed better days, you might never get that money back.

878
00:41:08,880 --> 00:41:11,160
Speaker 1: And so I think you've actually got some sound reasoning

879
00:41:11,200 --> 00:41:13,520
Speaker 1: going on here in regards to your outlook for your

880
00:41:13,520 --> 00:41:16,520
Speaker 1: specific area. But the tough thing about selling is that

881
00:41:16,600 --> 00:41:19,439
Speaker 1: it's an expensive transaction, right, Buying and selling real estate

882
00:41:19,719 --> 00:41:21,880
Speaker 1: ain't cheap. And so, yeah, sure you've got a lot

883
00:41:21,920 --> 00:41:23,600
Speaker 1: of equity that's going to ease some of the pain,

884
00:41:23,960 --> 00:41:26,280
Speaker 1: but that doesn't mean that this isn't a costly decision.

885
00:41:26,600 --> 00:41:28,480
Speaker 1: It also sucks to give up an uber low rate

886
00:41:28,520 --> 00:41:31,080
Speaker 1: in exchange for something closer to five percent. But you know,

887
00:41:31,200 --> 00:41:33,640
Speaker 1: you might be able to briefinance back into something similar

888
00:41:33,840 --> 00:41:36,759
Speaker 1: within the next few years, who knows, but that would

889
00:41:36,800 --> 00:41:38,839
Speaker 1: allow you to lower the payments on that new place

890
00:41:38,880 --> 00:41:41,040
Speaker 1: that your pot. And on the plus side, you know,

891
00:41:41,120 --> 00:41:43,520
Speaker 1: owning this home for two plus years and then selling

892
00:41:43,800 --> 00:41:46,239
Speaker 1: means there won't be any tax implications. You pocket the

893
00:41:46,280 --> 00:41:49,320
Speaker 1: gains tax free if when you sell an owner occupied

894
00:41:49,400 --> 00:41:51,600
Speaker 1: home that you've lived in for two plus years, So

895
00:41:51,640 --> 00:41:54,400
Speaker 1: at least there aren't any negative tax consequences from from

896
00:41:54,440 --> 00:41:56,600
Speaker 1: making this move. Yeah yeah, And so because of that,

897
00:41:56,760 --> 00:41:58,759
Speaker 1: like we are okay for you to to start looking

898
00:41:58,800 --> 00:42:00,680
Speaker 1: around and start shopping around, because if you can find

899
00:42:00,719 --> 00:42:03,200
Speaker 1: something in your budget that you're going to be excited

900
00:42:03,280 --> 00:42:05,520
Speaker 1: to call home for years to come, I think making

901
00:42:05,560 --> 00:42:07,600
Speaker 1: a home upgrade can make sense. Like this is when

902
00:42:07,719 --> 00:42:10,000
Speaker 1: it's worth looking at some of the personal goals that

903
00:42:10,080 --> 00:42:13,320
Speaker 1: you might have and not purely focused on just the

904
00:42:13,719 --> 00:42:16,560
Speaker 1: dollars and cents, right, like, not only looking at the financials,

905
00:42:16,600 --> 00:42:18,480
Speaker 1: but think through am I going to be excited to

906
00:42:18,520 --> 00:42:20,759
Speaker 1: live here? Because like, like what I'm hearing is that,

907
00:42:21,000 --> 00:42:23,279
Speaker 1: like you don't seem very excited to make some of

908
00:42:23,360 --> 00:42:26,960
Speaker 1: these renovations because of the neighborhood. But again though specific

909
00:42:27,040 --> 00:42:28,799
Speaker 1: like kind of flip flopping a little bit here, though

910
00:42:29,120 --> 00:42:31,359
Speaker 1: it sounds like your location is great, Like you're saying

911
00:42:31,440 --> 00:42:33,640
Speaker 1: that the reason you've seen these increases is because of

912
00:42:33,719 --> 00:42:36,319
Speaker 1: the locations just pois in general. I think he's saying

913
00:42:36,360 --> 00:42:38,920
Speaker 1: that's a general location, but the specific location his block

914
00:42:39,080 --> 00:42:41,480
Speaker 1: where he's at, his neighborhood isn't so hot. Sure, I

915
00:42:41,560 --> 00:42:42,960
Speaker 1: mean that being said though, like it sounds like he

916
00:42:43,120 --> 00:42:45,040
Speaker 1: I don't know, it feels like to me like he's

917
00:42:45,080 --> 00:42:48,200
Speaker 1: maybe over emphasizing the surrounding houses. But yes, it does

918
00:42:48,280 --> 00:42:50,840
Speaker 1: come down to I guess what amenities are nearby and

919
00:42:51,000 --> 00:42:55,600
Speaker 1: if he can forecast that specific neighborhood, maybe making a comeback.

920
00:42:55,800 --> 00:42:58,000
Speaker 1: But I think it's also worth mentioning that I think

921
00:42:58,239 --> 00:43:00,120
Speaker 1: as you are thinking through some of these repairs you

922
00:43:00,200 --> 00:43:02,600
Speaker 1: have to make, sometimes it can be overwhelming and not

923
00:43:02,719 --> 00:43:05,200
Speaker 1: that you're you're making an emotional decision here, Brian, but

924
00:43:05,480 --> 00:43:07,400
Speaker 1: I think oftentimes the grass can look greener on the

925
00:43:07,480 --> 00:43:09,120
Speaker 1: other side. Right when you are living in your house,

926
00:43:09,200 --> 00:43:11,000
Speaker 1: it always feels like there is so much work that

927
00:43:11,080 --> 00:43:12,880
Speaker 1: has to be done, and you think, man, if we

928
00:43:12,960 --> 00:43:14,920
Speaker 1: were just to move to a different neighborhood where we

929
00:43:15,000 --> 00:43:17,800
Speaker 1: don't have to perform as much work, that's going to

930
00:43:17,840 --> 00:43:20,680
Speaker 1: solve all of our problems. When you might, just because

931
00:43:20,719 --> 00:43:22,480
Speaker 1: of how you're wired, you might also then move into

932
00:43:22,520 --> 00:43:24,920
Speaker 1: that house and think, oh, man, now we've got to

933
00:43:24,960 --> 00:43:28,120
Speaker 1: replace the roof and the sewer lines totally, you know,

934
00:43:28,280 --> 00:43:32,640
Speaker 1: needing to be replaced. Another hidden cost that future buyers

935
00:43:32,640 --> 00:43:34,480
Speaker 1: aren't necessarily going to going to value. And that's why

936
00:43:34,520 --> 00:43:36,400
Speaker 1: you have to as a homeowner. You have to realize

937
00:43:36,440 --> 00:43:39,759
Speaker 1: and start saving up for those repairs that you're gonna

938
00:43:39,800 --> 00:43:41,840
Speaker 1: need to make. And because spending that much money on

939
00:43:41,960 --> 00:43:44,080
Speaker 1: home repairs can be pretty frustrating, and so Matt, that's

940
00:43:44,280 --> 00:43:46,279
Speaker 1: sometimes why we talk about renting as not being a

941
00:43:46,320 --> 00:43:49,600
Speaker 1: bad move, because it can be a pain and it

942
00:43:49,640 --> 00:43:52,160
Speaker 1: can be expensive to own a home. But so much

943
00:43:52,200 --> 00:43:54,560
Speaker 1: of I think Brian's question comes down to, you know

944
00:43:54,640 --> 00:43:56,400
Speaker 1: so much if it comes down to whether or not

945
00:43:56,440 --> 00:43:58,440
Speaker 1: he's gonna feel comfortable in this house long term. But

946
00:43:58,480 --> 00:44:00,399
Speaker 1: then on the other end of the spectrum, right, maybe

947
00:44:00,560 --> 00:44:03,200
Speaker 1: you are totally fine with handling all these repairs and

948
00:44:03,600 --> 00:44:06,759
Speaker 1: scheduling contractors and things like that. The other other end

949
00:44:06,800 --> 00:44:09,279
Speaker 1: of the spectrum is to hang onto this house, do

950
00:44:09,480 --> 00:44:11,840
Speaker 1: the work, but don't overdo it all, right, Like maybe,

951
00:44:12,000 --> 00:44:15,200
Speaker 1: like you're talking about replacing the kitchen, If the kitchen works,

952
00:44:15,360 --> 00:44:19,040
Speaker 1: maybe that's not something you need to replace. The h fact,

953
00:44:19,160 --> 00:44:21,400
Speaker 1: that is something you're likely going to need to replace. Uh.

954
00:44:21,480 --> 00:44:23,799
Speaker 1: And the reason I'm focusing on these things is because

955
00:44:23,880 --> 00:44:25,400
Speaker 1: those are the kind of things, Uh, those are the

956
00:44:25,440 --> 00:44:26,880
Speaker 1: kind of upgrades that you might want to make in

957
00:44:27,040 --> 00:44:29,320
Speaker 1: order for this to be a successful rental. I'm not

958
00:44:29,400 --> 00:44:30,839
Speaker 1: sure if that's a goal of yours if you want

959
00:44:30,880 --> 00:44:33,680
Speaker 1: to be a landlord. But in particular, with you've got

960
00:44:33,719 --> 00:44:36,920
Speaker 1: an interest rate, you're locked in under three percent you're

961
00:44:36,920 --> 00:44:39,400
Speaker 1: still in a very hot town, and you might be

962
00:44:39,520 --> 00:44:41,920
Speaker 1: in a very desirable neighborhood. Again, it sounds like some

963
00:44:41,960 --> 00:44:45,480
Speaker 1: of the houses surrounding you might be, you said, at best, dilapidated.

964
00:44:45,680 --> 00:44:47,400
Speaker 1: But the gain and equity that you've seen in that

965
00:44:47,480 --> 00:44:50,320
Speaker 1: particular house, it hasn't been because of your specific neighborhood,

966
00:44:50,360 --> 00:44:52,200
Speaker 1: like you said, It sounds like it's been maybe more

967
00:44:52,320 --> 00:44:54,960
Speaker 1: because you got lucky with when you purchased you You

968
00:44:55,000 --> 00:44:57,360
Speaker 1: were able to ride that wave up. And so I

969
00:44:57,400 --> 00:44:59,279
Speaker 1: guess what I'm suggesting now is that if you can

970
00:44:59,320 --> 00:45:01,919
Speaker 1: continue to hang onto this property, and if you see

971
00:45:01,960 --> 00:45:04,839
Speaker 1: this neighborhood potentially turning around, you could see an entire

972
00:45:04,880 --> 00:45:08,040
Speaker 1: another wave of appreciation. This is equity that you're gonna

973
00:45:08,120 --> 00:45:10,200
Speaker 1: be able to keep locked up in this property, so

974
00:45:10,239 --> 00:45:12,560
Speaker 1: you're gonna be less tempted to consume it. You're gonna

975
00:45:12,560 --> 00:45:15,239
Speaker 1: be less tempted to eat those dollars. We are huge

976
00:45:15,280 --> 00:45:18,360
Speaker 1: fans of investing in real estate ourselves, and so again

977
00:45:18,719 --> 00:45:20,479
Speaker 1: this may not may not even be on your radar

978
00:45:20,520 --> 00:45:23,680
Speaker 1: at all, but if it is something that you've considered before,

979
00:45:23,800 --> 00:45:25,440
Speaker 1: we might want to nudge you in that direction a

980
00:45:25,520 --> 00:45:27,320
Speaker 1: little bit, because we think that that can always be

981
00:45:27,840 --> 00:45:30,600
Speaker 1: a really smart financial move. Yeah. Not well, not always,

982
00:45:30,640 --> 00:45:33,400
Speaker 1: but yeah, lots of times it can be potentially can be,

983
00:45:33,520 --> 00:45:35,879
Speaker 1: and we want you thinking in that direction of the time.

984
00:45:36,000 --> 00:45:39,160
Speaker 1: It's a good move a hundred percent times. Well, and

985
00:45:39,440 --> 00:45:42,400
Speaker 1: I think, yeah, nudging, nudging Brian in that direction, I

986
00:45:42,440 --> 00:45:44,320
Speaker 1: think is good to at least think about it. So

987
00:45:44,480 --> 00:45:46,440
Speaker 1: much of that, though, depends on on his timeline. If

988
00:45:46,440 --> 00:45:47,600
Speaker 1: he's like, yeah, I can run it out for a

989
00:45:47,640 --> 00:45:49,719
Speaker 1: few years, well we'd rather you sell it. But if

990
00:45:49,719 --> 00:45:51,319
Speaker 1: you're like, no, no, I could. I could see hanging

991
00:45:51,360 --> 00:45:53,600
Speaker 1: onto this property for the long haul, for a decade plus.

992
00:45:53,920 --> 00:45:55,800
Speaker 1: That's when it makes sense as a runtal property and

993
00:45:55,920 --> 00:45:59,000
Speaker 1: because tax implications. Right, but all right, let's get onto

994
00:45:59,120 --> 00:46:02,080
Speaker 1: our last question of this episode, and this is another

995
00:46:02,120 --> 00:46:05,400
Speaker 1: one about tax implications, but the tax implications of investing

996
00:46:05,440 --> 00:46:09,280
Speaker 1: in a particular investment account. Hi, my name is Michael.

997
00:46:09,400 --> 00:46:12,120
Speaker 1: I'm from Boston, mass and I recently open up a

998
00:46:12,160 --> 00:46:15,040
Speaker 1: Fidelity account and I want to invest in roth Ira.

999
00:46:15,600 --> 00:46:17,919
Speaker 1: My question is how much text would I'll be paying

1000
00:46:18,440 --> 00:46:20,279
Speaker 1: if I were to put five hundred dollars a month

1001
00:46:20,520 --> 00:46:23,400
Speaker 1: into the account? Alright, Michael, thank you so much for

1002
00:46:23,480 --> 00:46:26,279
Speaker 1: your question. And first of all, you said the magic number,

1003
00:46:26,440 --> 00:46:29,480
Speaker 1: which is five bucks a month, and that is the

1004
00:46:29,520 --> 00:46:32,600
Speaker 1: magic number because that's gonna allow you to fully max

1005
00:46:32,680 --> 00:46:35,600
Speaker 1: out that account over the course of twelve months. Uh

1006
00:46:35,680 --> 00:46:37,880
Speaker 1: And so we're you know, we're talking about you sticking

1007
00:46:38,200 --> 00:46:41,200
Speaker 1: in six thousand dollars, which is the current cap per

1008
00:46:41,320 --> 00:46:43,239
Speaker 1: the i R s each year. And if you're able

1009
00:46:43,280 --> 00:46:45,040
Speaker 1: to funnel that much money into one of the best

1010
00:46:45,080 --> 00:46:47,680
Speaker 1: retirement accounts of all time, this is gonna make a

1011
00:46:47,800 --> 00:46:50,480
Speaker 1: major difference in your future. Uh And if you were

1012
00:46:50,520 --> 00:46:52,360
Speaker 1: to do this and keep that up, it's also completely

1013
00:46:52,440 --> 00:46:55,560
Speaker 1: possible to become a millionaire just by you know, fully

1014
00:46:55,600 --> 00:46:58,520
Speaker 1: funding that wrath each and every year. If you start

1015
00:46:58,600 --> 00:47:01,000
Speaker 1: early enough. What is it, I think it's something like

1016
00:47:01,080 --> 00:47:04,239
Speaker 1: thirty seven years at an expected return rate of seven

1017
00:47:04,320 --> 00:47:07,680
Speaker 1: percent is what lets you become a roth Ira a millionaire.

1018
00:47:07,719 --> 00:47:10,240
Speaker 1: So if you if you're just investing, that's the amount

1019
00:47:10,280 --> 00:47:12,839
Speaker 1: you invest ever your sixth grand no more, you don't

1020
00:47:12,880 --> 00:47:15,320
Speaker 1: have any other accounts accessible to you, or you're just

1021
00:47:15,400 --> 00:47:18,520
Speaker 1: choosing to forego sticking money in them, you can become

1022
00:47:18,520 --> 00:47:21,000
Speaker 1: a millionaire just by investing in your wrath Hira, which

1023
00:47:21,040 --> 00:47:25,080
Speaker 1: is cool. Also Matt. Michael, he opted to go with Fidelity, which,

1024
00:47:25,200 --> 00:47:27,440
Speaker 1: of course we love that, especially if you're going with

1025
00:47:27,560 --> 00:47:30,920
Speaker 1: their's zero funds. FC Rocks is one of our favorite

1026
00:47:30,960 --> 00:47:33,719
Speaker 1: funds for a couple of reasons. One, it's well diversified

1027
00:47:33,760 --> 00:47:36,040
Speaker 1: and to every single penny you put in there is

1028
00:47:36,120 --> 00:47:39,080
Speaker 1: working for your future. It's not going to pad the

1029
00:47:39,120 --> 00:47:42,200
Speaker 1: pockets of some sort of investment salesperson or even the

1030
00:47:42,239 --> 00:47:45,600
Speaker 1: brokerage firm itself. And plus it's called FC rocks, which

1031
00:47:45,680 --> 00:47:47,759
Speaker 1: means every time you say it, you it just sounds

1032
00:47:47,800 --> 00:47:51,320
Speaker 1: good about Yeah, and we tend to get pretty excited

1033
00:47:51,360 --> 00:47:53,880
Speaker 1: when people want to contribute to their roth IRA. Right.

1034
00:47:53,960 --> 00:47:55,799
Speaker 1: But but Michael, he wants to know about the tax

1035
00:47:55,840 --> 00:47:58,840
Speaker 1: implications of investing in a wrath and that's a good question.

1036
00:47:59,239 --> 00:48:02,080
Speaker 1: It's different than a traditional IRA or a traditional four

1037
00:48:02,200 --> 00:48:04,800
Speaker 1: one K, where you get a tax break for talking

1038
00:48:04,880 --> 00:48:07,440
Speaker 1: money away in the year that you do it. So

1039
00:48:07,960 --> 00:48:11,880
Speaker 1: when you put money in a roth in you're getting

1040
00:48:12,040 --> 00:48:14,919
Speaker 1: no current tax break. But here's the thing. You might think,

1041
00:48:15,400 --> 00:48:17,319
Speaker 1: what in the world, guys, why would you why would

1042
00:48:17,320 --> 00:48:20,000
Speaker 1: you suggest I put my money in the account that

1043
00:48:20,160 --> 00:48:22,560
Speaker 1: doesn't have any tax break for me? Right now? Well,

1044
00:48:23,040 --> 00:48:24,440
Speaker 1: Matt do you want to elaborate down that tell him,

1045
00:48:24,480 --> 00:48:26,160
Speaker 1: I it's still a good deal. Yeah. Well, it's interesting

1046
00:48:26,320 --> 00:48:28,560
Speaker 1: how how Michael asked the question as well, because he

1047
00:48:28,760 --> 00:48:31,359
Speaker 1: was basically talking about how investing within a rath area

1048
00:48:31,440 --> 00:48:33,080
Speaker 1: is going to cost him money, right, because I think

1049
00:48:33,120 --> 00:48:34,759
Speaker 1: most folks don't think about it that way. I think

1050
00:48:34,760 --> 00:48:37,799
Speaker 1: most folks think, Okay, by not investing any money, it's

1051
00:48:37,800 --> 00:48:41,120
Speaker 1: not gonna cost me anything. Right. If I invest a

1052
00:48:41,160 --> 00:48:43,400
Speaker 1: little bit of money within a rath, it's still not

1053
00:48:43,480 --> 00:48:45,840
Speaker 1: gonna cost me money. And from the taxes standpoint, I

1054
00:48:45,920 --> 00:48:47,920
Speaker 1: just get to invest a few extra dollars. But if

1055
00:48:47,960 --> 00:48:50,319
Speaker 1: you invest within a traditional IRA, you think, oh, well,

1056
00:48:50,360 --> 00:48:53,680
Speaker 1: there's there's an additional incentive, right, Like there's this bonus.

1057
00:48:54,080 --> 00:48:55,960
Speaker 1: And so I don't know. I say that because I

1058
00:48:56,160 --> 00:49:00,560
Speaker 1: like to think of investing within a traditional IRA or

1059
00:49:00,640 --> 00:49:04,120
Speaker 1: for one K as a positive win rather than seeing

1060
00:49:04,160 --> 00:49:07,920
Speaker 1: investing in a post tax account as like a negative loss.

1061
00:49:07,920 --> 00:49:09,840
Speaker 1: Does that makes sense? It's just uh, I don't know.

1062
00:49:09,880 --> 00:49:11,600
Speaker 1: It's just a different way of seeing things. But I

1063
00:49:11,640 --> 00:49:13,840
Speaker 1: think there might be advantages to to thinking about it

1064
00:49:13,920 --> 00:49:16,520
Speaker 1: the way that Michael is thinking about it. But Michael,

1065
00:49:16,560 --> 00:49:18,800
Speaker 1: you asked about you know, what rate you're paying on

1066
00:49:18,880 --> 00:49:20,800
Speaker 1: the dollars that you're you're sticking in that account. And

1067
00:49:20,880 --> 00:49:24,719
Speaker 1: the answer is that it depends specifically on your A

1068
00:49:24,840 --> 00:49:28,320
Speaker 1: g I, on your adjusted gross income, and your filing status,

1069
00:49:29,000 --> 00:49:31,040
Speaker 1: because it's gonna look, it's gonna be different, right for

1070
00:49:31,160 --> 00:49:33,920
Speaker 1: for everyone, depending on their specific situation. Uh. And some

1071
00:49:34,040 --> 00:49:36,120
Speaker 1: folks they might be wondering why in the world they

1072
00:49:36,160 --> 00:49:38,800
Speaker 1: would opt to forgo a tax break now by investing

1073
00:49:39,080 --> 00:49:41,680
Speaker 1: within a roth ira And the reason is that once

1074
00:49:41,800 --> 00:49:45,160
Speaker 1: that post tax money is within your Wrath Wrath account,

1075
00:49:45,360 --> 00:49:48,720
Speaker 1: it's never gonna be taxed again. And so we really

1076
00:49:48,840 --> 00:49:52,160
Speaker 1: like the idea of paying Uncle Sam now in the

1077
00:49:52,239 --> 00:49:55,200
Speaker 1: current year and then you'll never have to worry about that,

1078
00:49:55,440 --> 00:49:57,840
Speaker 1: you know, the taxes on that money ever again. And

1079
00:49:57,960 --> 00:50:00,279
Speaker 1: that's because while you know, we don't typically like to

1080
00:50:00,320 --> 00:50:02,759
Speaker 1: make predictions here on the show, we can't imagine that

1081
00:50:02,800 --> 00:50:04,560
Speaker 1: taxes way off in the future, that they're going to

1082
00:50:04,600 --> 00:50:08,560
Speaker 1: be anything less than where they currently are. They might be,

1083
00:50:08,840 --> 00:50:12,399
Speaker 1: but I am investing like they're going to be more. Yeah, man,

1084
00:50:12,480 --> 00:50:14,560
Speaker 1: I think you're probably right. And when you look at

1085
00:50:14,560 --> 00:50:16,920
Speaker 1: actually just the fact that we have a piece of

1086
00:50:17,000 --> 00:50:20,440
Speaker 1: legislation currently in place that is set, there's going to

1087
00:50:20,520 --> 00:50:23,600
Speaker 1: sunset at the end of which is immediately going to

1088
00:50:23,680 --> 00:50:26,200
Speaker 1: cost most of us more in taxes. I think it's

1089
00:50:26,239 --> 00:50:28,360
Speaker 1: important to mention that, like, are they likely to go

1090
00:50:28,440 --> 00:50:30,759
Speaker 1: up in the future, Yes, but there's also just the

1091
00:50:30,880 --> 00:50:33,080
Speaker 1: reality that they are going to go up if something

1092
00:50:33,280 --> 00:50:36,040
Speaker 1: isn't done to prevent it. And I think it can

1093
00:50:36,080 --> 00:50:39,239
Speaker 1: be helpful too from a tax planning perspective, knowing that

1094
00:50:39,320 --> 00:50:42,200
Speaker 1: you have an account that's growing that won't trigger any

1095
00:50:42,239 --> 00:50:45,040
Speaker 1: future taxes, right getting basically getting those taxes out of

1096
00:50:45,040 --> 00:50:47,560
Speaker 1: the way, but it's also just a really flexible account.

1097
00:50:47,640 --> 00:50:49,320
Speaker 1: That's what we like about the wrath too. You know,

1098
00:50:49,360 --> 00:50:51,880
Speaker 1: we talked about all the reasons we love the roth

1099
00:50:51,960 --> 00:50:53,800
Speaker 1: Ira back in the episode eighty three. It might be

1100
00:50:53,920 --> 00:50:56,040
Speaker 1: worth you going back to listen to that, Michael. But

1101
00:50:56,480 --> 00:50:58,640
Speaker 1: part of what's cool is that you can pull those

1102
00:50:58,680 --> 00:51:02,279
Speaker 1: contributions out in the future tax and penalty free, and

1103
00:51:02,360 --> 00:51:04,400
Speaker 1: so after years of investing in that account, it can

1104
00:51:04,440 --> 00:51:07,000
Speaker 1: serve us a backup to your e fund or you know,

1105
00:51:07,120 --> 00:51:10,160
Speaker 1: like we talked about in regards to Brandon's question, Matt,

1106
00:51:10,400 --> 00:51:13,440
Speaker 1: like you can even allow you some flexibility to make

1107
00:51:13,520 --> 00:51:16,520
Speaker 1: less money or to fully quit your job if you've

1108
00:51:16,520 --> 00:51:19,920
Speaker 1: got years of roth IRA contributions stocked away, and so

1109
00:51:20,680 --> 00:51:23,080
Speaker 1: here's the thing that we prefer that you not ever

1110
00:51:23,160 --> 00:51:26,799
Speaker 1: touch those contributions, not until retirement. But it's also it's

1111
00:51:26,840 --> 00:51:28,680
Speaker 1: nice to know that you can, right, It's nice to

1112
00:51:28,719 --> 00:51:30,760
Speaker 1: know that you have the flexibility even if we prefer

1113
00:51:31,120 --> 00:51:33,319
Speaker 1: for you to to continue to let that money grow

1114
00:51:33,840 --> 00:51:36,440
Speaker 1: for your future without touching it until much later on.

1115
00:51:36,920 --> 00:51:39,720
Speaker 1: That's right. And Michael, by the way, there are some factors,

1116
00:51:39,800 --> 00:51:42,719
Speaker 1: some other factors that might make opting for a traditional

1117
00:51:42,800 --> 00:51:45,279
Speaker 1: IRA make more sense for you. Again, it's going to

1118
00:51:45,360 --> 00:51:48,400
Speaker 1: depend on your specific situation and how much it is

1119
00:51:48,440 --> 00:51:51,239
Speaker 1: that you earn. But for instance, if you are on

1120
00:51:51,360 --> 00:51:55,680
Speaker 1: track to achieve ps LF public service loan forgiveness, you're

1121
00:51:55,719 --> 00:51:59,440
Speaker 1: probably gonna want to stock money into a traditional IRA

1122
00:51:59,760 --> 00:52:02,360
Speaker 1: in to lower your a g I, which means you

1123
00:52:02,360 --> 00:52:05,160
Speaker 1: will then get more of your student loan debt. Forgiven,

1124
00:52:05,480 --> 00:52:07,640
Speaker 1: those are the rules, and if you can use the

1125
00:52:07,760 --> 00:52:10,080
Speaker 1: rules to your advantage, that's something you want to keep

1126
00:52:10,080 --> 00:52:11,640
Speaker 1: in mind. And so it might be worth talking to

1127
00:52:11,719 --> 00:52:14,040
Speaker 1: a tax professional if you feel like your situation is

1128
00:52:14,080 --> 00:52:16,480
Speaker 1: a bit more complex, but you are totally on the

1129
00:52:16,600 --> 00:52:18,680
Speaker 1: right track here. We don't want you to worry about

1130
00:52:18,760 --> 00:52:21,799
Speaker 1: the tax dollars that you're paying now, because maxing out

1131
00:52:21,880 --> 00:52:23,960
Speaker 1: that roth over the decades, it's going to be one

1132
00:52:24,000 --> 00:52:26,240
Speaker 1: of the best things that you can do for your future.

1133
00:52:26,320 --> 00:52:28,480
Speaker 1: The fact that you're investing at all, uh, and that

1134
00:52:28,600 --> 00:52:31,480
Speaker 1: this is something that you're considering that puts you ahead

1135
00:52:31,600 --> 00:52:34,160
Speaker 1: of the vast majority of folks where investing for the

1136
00:52:34,239 --> 00:52:37,719
Speaker 1: retirement is barely even on the radars for sure. All right, Matt,

1137
00:52:37,800 --> 00:52:39,919
Speaker 1: let's uh, that's gonna be it for listening questions. Let's

1138
00:52:39,920 --> 00:52:41,440
Speaker 1: get back to the beer. The one that we had

1139
00:52:41,640 --> 00:52:44,560
Speaker 1: on today's episode is called Row r h oh, and

1140
00:52:44,600 --> 00:52:47,640
Speaker 1: it's by Equilibrium brewing out of New York. What are

1141
00:52:47,680 --> 00:52:50,160
Speaker 1: your thoughts on this beer? Row after the Greek symbol

1142
00:52:50,760 --> 00:52:53,680
Speaker 1: that's on there. That's what that's what that stands. It's

1143
00:52:53,680 --> 00:52:57,600
Speaker 1: a less popular. Are there any Greek sororities or fraternities

1144
00:52:57,600 --> 00:52:59,560
Speaker 1: with Row in them? I doubt it? Okay, So here's

1145
00:52:59,600 --> 00:53:02,800
Speaker 1: something we've talked about Greek life. You nor neither you

1146
00:53:02,880 --> 00:53:05,759
Speaker 1: nor I were in fraternities or anything like that. And

1147
00:53:05,840 --> 00:53:08,319
Speaker 1: so maybe there are organizations out there that include Row,

1148
00:53:08,480 --> 00:53:10,560
Speaker 1: but I don't know what they are I was into Skulls.

1149
00:53:10,600 --> 00:53:12,960
Speaker 1: I just didn't tell you about that. I did see

1150
00:53:13,080 --> 00:53:14,640
Speaker 1: r H and it makes me think I wrote Adendron,

1151
00:53:15,280 --> 00:53:18,400
Speaker 1: which I'm allergic to, but I am not allergic to

1152
00:53:18,480 --> 00:53:21,759
Speaker 1: this beer. This is an Imperial coffee stout by Equilibrium. Uh.

1153
00:53:21,880 --> 00:53:26,680
Speaker 1: And this is made with Mostra Ghost Bear espresso coffee,

1154
00:53:27,080 --> 00:53:28,880
Speaker 1: which I've never heard of, but I assume that that

1155
00:53:29,080 --> 00:53:32,040
Speaker 1: is a coffee roaster up there near Equilibrium. But what

1156
00:53:32,120 --> 00:53:33,799
Speaker 1: we were thoughts on this beer. Yeah, so the first

1157
00:53:33,840 --> 00:53:35,520
Speaker 1: thing that you notice is when you pour it, and

1158
00:53:35,640 --> 00:53:38,719
Speaker 1: it's just like heavy on the viscosity, uh is So

1159
00:53:38,840 --> 00:53:40,920
Speaker 1: it was definitely it was. It was thicker, but it

1160
00:53:41,040 --> 00:53:43,880
Speaker 1: had some nice coffee notes with like this subtle sweet finish.

1161
00:53:44,280 --> 00:53:46,200
Speaker 1: So I thought that was a pretty sweet combo. And

1162
00:53:46,320 --> 00:53:49,440
Speaker 1: Equilibrium and they're mostly known for brewing like hardcore I

1163
00:53:49,560 --> 00:53:51,800
Speaker 1: p a s but know them very well. Yeah. I

1164
00:53:51,920 --> 00:53:53,640
Speaker 1: haven't had many other stuff, but the few I've had

1165
00:53:53,680 --> 00:53:56,319
Speaker 1: with like really good. But this obviously they make its

1166
00:53:56,360 --> 00:53:58,279
Speaker 1: sound too. This is delicious. So, speaking of the beer

1167
00:53:58,360 --> 00:54:00,879
Speaker 1: folder that I keep up with, I saw that we've

1168
00:54:00,920 --> 00:54:03,480
Speaker 1: had one equally being beer on the show back in

1169
00:54:03,560 --> 00:54:06,440
Speaker 1: the day, So I'm less familiar with them, but it's

1170
00:54:06,560 --> 00:54:08,239
Speaker 1: it's funny that you mentioned like the coffee notes. I

1171
00:54:08,280 --> 00:54:10,080
Speaker 1: feel like I didn't taste as like many of the

1172
00:54:10,120 --> 00:54:12,680
Speaker 1: coffee notes. Like, so I just started writing down adjectives

1173
00:54:12,800 --> 00:54:15,600
Speaker 1: like throughout this episode as I was I was drinking

1174
00:54:15,640 --> 00:54:21,040
Speaker 1: a beer with me, wrote down dark molasses, sticky, boozy, uh,

1175
00:54:21,120 --> 00:54:23,200
Speaker 1: and I wrote down not coffee, Like I feel like

1176
00:54:23,200 --> 00:54:26,759
Speaker 1: that there's there's less it was coffee notes. Like. It

1177
00:54:26,800 --> 00:54:29,200
Speaker 1: does have a touch of roasty nous going on, but

1178
00:54:29,320 --> 00:54:32,080
Speaker 1: it's not like like aff a coffee roast nous. It's

1179
00:54:32,080 --> 00:54:34,040
Speaker 1: sort of like the dark flavors that you get from

1180
00:54:34,120 --> 00:54:37,440
Speaker 1: roasting like vegetables and like on a roasting pan in

1181
00:54:37,480 --> 00:54:40,360
Speaker 1: the oven, Like I'm thinking like a panful like carrots

1182
00:54:40,440 --> 00:54:42,239
Speaker 1: or broccoli or something like onions, you know, like you

1183
00:54:42,320 --> 00:54:44,960
Speaker 1: get some of those dark sugars. I feel like this

1184
00:54:45,040 --> 00:54:47,200
Speaker 1: beer was putting out more those kind of vibes rather

1185
00:54:47,360 --> 00:54:50,319
Speaker 1: than like, um oh, I'm a cup of coffee. Kind

1186
00:54:50,360 --> 00:54:53,320
Speaker 1: of kind of rusty flavors. But I'm glad that you

1187
00:54:53,400 --> 00:54:56,200
Speaker 1: and I were able to enjoy and share this one

1188
00:54:56,239 --> 00:54:58,879
Speaker 1: on the show. And again going back to thinking about

1189
00:54:58,920 --> 00:55:00,640
Speaker 1: how many beers we've had on the show. It's still

1190
00:55:00,640 --> 00:55:02,799
Speaker 1: amazing that you know, this is a part of our

1191
00:55:02,880 --> 00:55:05,440
Speaker 1: job that we're able to sample and taste some of

1192
00:55:05,480 --> 00:55:08,120
Speaker 1: the finest craft beers from across the country. We should

1193
00:55:08,280 --> 00:55:10,160
Speaker 1: never ever complain. That's right. We get to work, we

1194
00:55:10,200 --> 00:55:12,160
Speaker 1: cannot get a bike here, We get to hang out

1195
00:55:12,160 --> 00:55:13,560
Speaker 1: with each other, we get to drink beer while we

1196
00:55:13,640 --> 00:55:15,480
Speaker 1: talk about money. Life is good in life is good,

1197
00:55:15,520 --> 00:55:17,839
Speaker 1: for sure, and we are thankful for you listeners out

1198
00:55:17,880 --> 00:55:20,120
Speaker 1: there for listening and supporting how to Money for sure,

1199
00:55:20,400 --> 00:55:22,800
Speaker 1: and we'll continue to do our best to offer the

1200
00:55:22,880 --> 00:55:26,120
Speaker 1: best advice uh in the personal finance space. But Matt,

1201
00:55:26,160 --> 00:55:28,440
Speaker 1: that's gonna do it for this episode. For folks who

1202
00:55:28,480 --> 00:55:30,000
Speaker 1: want the show notes and some of the links to

1203
00:55:30,040 --> 00:55:31,680
Speaker 1: some of the things that we mentioned, you can find

1204
00:55:31,680 --> 00:55:34,200
Speaker 1: those up on our website at how to Money dot com.

1205
00:55:34,400 --> 00:55:36,960
Speaker 1: That's right, so Joel. Until next time, Best friends Out,

1206
00:55:37,120 --> 00:55:38,439
Speaker 1: Best Friends Out.