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Speaker 1: Welcome to how to Money. I'm Joel and I am Max,

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

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Speaker 2: Yeah, specifically, we're answering five listener questions. One listener, she's

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Speaker 2: asking about some employer matched savings account options basically for vacation.

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Speaker 1: That kind of sounds like a nice little perk, right,

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Speaker 1: but is it actually worth it?

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Speaker 2: Another is asking about the built in cell phone insurance

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Speaker 2: that comes with credit cards. And another listener he's asking

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Speaker 2: about assumable mortgages whether that's a savvy way to find

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Speaker 2: your way into a low mortgage payment every single month.

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Speaker 2: We'll get to those three plus a couple others.

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Speaker 1: Not surprising about investing. Yeah, my guess is Google searches

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Speaker 1: for assumable mortgages have gone up quite a bit as

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Speaker 1: mortgage rates have gone up, so they our listener Tom,

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Speaker 1: He's not the only one with this question, So yeah,

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Speaker 1: looking forward to talking about that one. I'm sure it's

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Speaker 1: skyrocket alongside Barbie Pink or whatever. Is there a special

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Speaker 1: Barbi pink color? Does that have a name that there is?

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Speaker 1: There's a pantone? I don't know. Maybe I don't know

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Speaker 1: anything about it. I haven't seen it. Yet because neither

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Speaker 1: I would like to go see movies, but I don't

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Speaker 1: ever do it. And yeah, I don't plan to see

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Speaker 1: that one. It's Barbie.

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Speaker 2: Yeah, now it feels a g I Joe's movie, right,

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Speaker 2: that's the doll toy that I can get behind me.

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Speaker 1: I would probably stream it, although I will say I

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Speaker 1: am curious about I was a Ninja Turtles fanatic as

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Speaker 1: a kid. I see there's new Ninja Turtles movie coming out,

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Speaker 1: and it looks kind of awesome. So what was your

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Speaker 1: favorite Did you ever play the Ninja Turtle video games?

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Speaker 1: Which the Arcade one was the four player arcade version

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Speaker 1: where you got to the Leonardo Ruffiel, but the original

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Speaker 1: Nintendo one was great too. Man, those I was a

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Speaker 1: Michael Angelo guy. By the way, I'm guessing you were Leonardo.

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Speaker 1: Oh yeah, dude, I love Leonardo or Donna Teller was

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Speaker 1: going to say that was the other one, one of those,

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Speaker 1: one of those two. So but come on, everybody knows

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Speaker 1: that the dude with the two swords is gonna be

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Speaker 1: better than the guy with the two forks. I just

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Speaker 1: like the party. Plus, I thought nun chunxs were cole.

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Speaker 2: That's why Raphael in the What was the movie that

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Speaker 2: came out in the nineties. He was the one that

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Speaker 2: was on the fritz, you know, like he's they're called

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Speaker 2: size Yeah.

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Speaker 1: And he lost it. And I still remember that Ninja

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Speaker 1: Turtles are awesome. Yeah, well, all right, maybe we'll take

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Speaker 1: the dudes. If if they're old enough they would have fun,

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Speaker 1: would that be they'd have a blast? A right, Let's

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Speaker 1: I just really quickly matten before we get to these questions.

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Speaker 1: I wanted to mention that I cashed out my eyebonds.

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Speaker 1: Oh yeah, nice, and me too. We talked about eebonds

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Speaker 1: so much for so long, and now there's not nearly

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Speaker 1: as much to says so hot last year, and they're

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Speaker 1: still paying a decent rate. And now the fixed rate

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Speaker 1: on eyebonds is you know, the overall rate of return

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Speaker 1: you get is partially fixed. It's partially based on just inflation.

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Speaker 1: And for the longest time there was no fixed return,

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Speaker 1: but the inflation numbers were so hot that it was like, okay,

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Speaker 1: go get some of that money and ibonds.

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Speaker 2: But now with inflation coming down, those rates reset, not resetting,

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Speaker 2: but adjusting to inflation. Yeah, we're not nearly as attractive

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Speaker 2: as they used to be.

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Speaker 1: Exactly, and so if you got in while there was

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Speaker 1: no fixed rate, the rates even lower for you right now,

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Speaker 1: and it might be worth forfeiting. Run the numbers for

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Speaker 1: yourself and see, like when you bought them, what sort

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Speaker 1: of interest you're giving up, Because you do give up.

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Speaker 1: If you haven't kept those bonds, those eyebonds around for

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Speaker 1: five years, you're giving up your forfeiting three months worth

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Speaker 1: of interest. But given kind of where things stand with

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Speaker 1: saving these accounts and CD rates and stuff like that,

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Speaker 1: eyebonds are just looking a little bit less attractive. They're

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Speaker 1: still not bad, but not as attractive, and you might

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Speaker 1: find a better place for your money elsewhere for your cash.

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Speaker 1: Did you pull the money out for a specific reason

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Speaker 1: or did you just from a principal standpoint where you

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Speaker 1: just like, okay, it's time to pull those money up.

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Speaker 1: Just from a principal standpoint plus blown on anything now.

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Speaker 1: I like simplicity also, and just having my money in

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Speaker 1: one less place is just nice for a mental perspective.

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Speaker 2: The guy that loves saving a dollar wherever he can

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Speaker 2: says he likes simplicity.

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Speaker 1: If it was paying more, you totally would still already

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Speaker 1: kept it for sure. Oh yeah, yeah, no, it was

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Speaker 1: mostly that, but I'm also like, eh, it's from that

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Speaker 1: perspective having it all in just kind of having a

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Speaker 1: lot and it's now done before it's in the fours

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Speaker 1: four point three. But that's if you if you buy

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Speaker 1: eyebines now, but the floating rate, because you don't get

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Speaker 1: the fixed rate when you know, with for those old

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Speaker 1: bonds when you bought them, you're you're in the threes exactly.

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Speaker 1: That coupled with the fact that you can earn that

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Speaker 1: much within just a regular HIGHUELD savings account, so a

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Speaker 1: lot more than that.

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Speaker 2: So yeah, so I I pulled mine out just for

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Speaker 2: I didn't blow it on anything. But uh so, okay,

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Speaker 2: here's a little peek behind the curtain. Here it a

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Speaker 2: hot of money. Our income is highly variable, so we've

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Speaker 2: got money coming in from our investment properties every month.

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Speaker 2: But the business, you know, it's it's it's cyclical in nature,

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Speaker 2: and so some months we don't make it toun of money.

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Speaker 2: And I was actually it was like two months in

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Speaker 2: a row where I was like, man, I don't have

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Speaker 2: to diff to my quote unquote emergency fund. Like we've

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Speaker 2: got a fat emergency fund to help smooth out these

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Speaker 2: ups and downs, like we know this and we playing

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Speaker 2: for it, but even still, I don't want to have

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Speaker 2: to do that agains. So the rates being lower, coupled

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Speaker 2: with the fact that we had less money coming in,

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Speaker 2: I was just like, okay, this, I'm gonna go ahead

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Speaker 2: and cash is out and it'll feel like I earned

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Speaker 2: a paycheck this month. In reality, we didn't.

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Speaker 1: I get it. You're mentally verse and then taking that

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Speaker 1: money instead of dipping in. But like you, if the

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Speaker 1: rate was continuing to be high, I would have left

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Speaker 1: it there. So sure. So just a note, because we

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Speaker 1: talked about it a lot, it's always worth following up

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Speaker 1: and saying, hey, check in on that again. And the

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Speaker 1: Treasury Direct website. Of course, we've given it. It's fair

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Speaker 1: share of grief. Not the easiest place to redeem or whatever,

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Speaker 1: and so I'm just kind of glad to be done

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Speaker 1: with it. Even from that perspective too. Yeah, they don't

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Speaker 1: make it easy. It's not like there is a redeem

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Speaker 1: your your dollars now. Yeah, so sample you got to

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Speaker 1: go digging for it. Yeah, okay, let's go ahead and

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Speaker 1: introduce the beer for this episode. This is actually a

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Speaker 1: Japanese beer and it's from the town of can Zawa.

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Speaker 2: I guess that's how you say it. So I think

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Speaker 2: it's maybe Kenazea brewery. I don't know because there is

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Speaker 2: not a single word I can read English this label

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Speaker 2: except for beer. They stick there for the dumb Americans. Yes,

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Speaker 2: but this one was into us.

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Speaker 1: In case you thought it was apple juice. By the

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Speaker 1: color of the Yeah, so this is the red can. Julia.

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Speaker 2: She sent us three different beers that we're excited to

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Speaker 2: try from Kenazwa Brewery, I assume. And this isn't the

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Speaker 2: first beer that Julia has sent her away. She might

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Speaker 2: be the only person to send us beer multiple times.

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Speaker 2: Rugen bra I remember that like.

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Speaker 1: The euro pills. Oh yeah, yeah, beginning of last year

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Speaker 1: she sent that one. Okay as well. Well, I love

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Speaker 1: drinking beers from other countries. And by the way, just

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Speaker 1: the can.

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Speaker 2: It's cool and it's so cool and it's it's a unique.

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Speaker 2: Well what are the juice cans like the you know something?

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Speaker 2: There's a brand out there that sort with a J

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Speaker 2: I think, but the can is kind of like that.

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Speaker 2: It's got that narrow top and.

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Speaker 1: It's like it's really stiff. That's why I love drinking

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Speaker 1: like a foreign beer. Yeah, there's something just exotic about it, right,

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Speaker 1: so big thanks to Julia. We'll give our thoughts on

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Speaker 1: this one the end of Apple sure thoughts. And by

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Speaker 1: the way, I want to mention this real quick. Julia. So,

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Speaker 1: she said she was in Japan for six weeks visiting family.

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Speaker 1: Her daughter is stationed there, she got to spend some

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Speaker 1: time with her granddaughter. And she said that she was

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Speaker 1: able to save over two.

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Speaker 2: Thousand dollars in flight costs because of her ticket getting

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Speaker 2: over there, because of credit card miles and points. Yeah,

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Speaker 2: she says that she sends our credit credit card tool

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Speaker 2: to everyone she knows who's talking about maybe flying somewhere. So, Julia,

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Speaker 2: thank you so much for that. And if you haven't

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Speaker 2: checked out the credit card tool, you can just go

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Speaker 2: to how to money dot com forward slash credit card

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Speaker 2: tool yep, and you can filter the results based on

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Speaker 2: maybe what airline you're looking at, or some of the

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Speaker 2: other different benefits specific benefits that you're looking for. And

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Speaker 2: we're so glad to hear that Julia was able to

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Speaker 2: save a boatload of money.

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Speaker 1: And last week we talked about just that very thing

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Speaker 1: with Lynn Metler and so if you're like, all right,

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Speaker 1: I'm ready to get on the bandwagon. I'm ready to

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Speaker 1: start traveling without using my heard earned money to go

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Speaker 1: into that credit card tool. Finding the right one for

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Speaker 1: you is a great place to start. But let's get

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Speaker 1: onto the topic, and Hey, Matt, let's get to listener questions.

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Speaker 1: If you have a question for us, we'd love to

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Speaker 1: tackle it in the future on maybe the next ask

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Speaker 1: HTM episode. You can just go to how tomoney dot

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Speaker 1: com slash ask. There are simple instructions there for you

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Speaker 1: to record and submit a voice memo over and yeah,

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Speaker 1: hopefully we'll take your question soon. But let's get to

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Speaker 1: the first one for this episode. It's from someone who's

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Speaker 1: doing great financially, but she's got some single stock owners ownership.

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Speaker 1: She's wondering if she should minimize it.

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Speaker 3: Hey, Matt and Joel, my name is Alexis and I

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Speaker 3: live in Cherry Hill, New Jersey. I love the show

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Speaker 3: and I'm excited to finally have a question for you guys.

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Speaker 3: My mom bought a stock of Quaker roads for me

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Speaker 3: when I was about six years old nineteen ninety six

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Speaker 3: for about fifty dollars. She bought this for me to

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Speaker 3: teach me about investing, and it worked because I'm very

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Speaker 3: into investing and looking at my future. The Quaker Oots

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Speaker 3: stock was a drip stock. Pepsi ended up buying Quaker

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Speaker 3: Oats and now at thirty three, I have about thirty

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Speaker 3: four shares of Pepsi worth sixty two hundred dollars. My

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Speaker 3: question is should I sell my stock and put it

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Speaker 3: into my wrath ira Currently at my company, which I

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Speaker 3: plan to stay at for a long time, I have

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Speaker 3: a four to one K program that has a decent

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Speaker 3: match with my investing. The match and also the profit

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Speaker 3: sharing they give us every year and the additional money

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Speaker 3: that I put into my wrath Iray. I'm saving about

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Speaker 3: twenty five thousand dollars a year when I'm doing the

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Speaker 3: calculations in my four to one K. In my wrath Iray,

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Speaker 3: at sixty five, I should have about four point five

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Speaker 3: million dollars. I also have an airbnb that will be

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Speaker 3: passive income, and I'm not even including my husband's retirement funds.

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Speaker 3: So the question is what should I do with this

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Speaker 3: Pepsi dripstock. Do I hold on to it just to

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Speaker 3: have a good story, or do I reinvest in it?

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Speaker 3: Thanks for listening. Cheers, Joe.

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Speaker 1: I don't know if you heard that.

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Speaker 2: Four point five million dollars baby, Oh yeah, that's that's

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Speaker 2: some serious money. I love that she's calculated ahead. She's

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Speaker 2: done the compounding returns calculator, figured out how comfortable will

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Speaker 2: I A actually be able to live when I recare.

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Speaker 2: She's diversifying too, She's doing the tried and true method.

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Speaker 2: She's dabbling in real estate in a smart, intelligent way.

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Speaker 1: It sounds like the Airbnb. Yeah, I love it.

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Speaker 2: Okay, So first, before we keep talking about Alex's, let's

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Speaker 2: talk about her mom. Because Alexis, your mom is awesome,

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Speaker 2: and does it sound like her lesson paid dividends, I'll

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Speaker 2: tell you what.

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Speaker 1: Like you more dividends than the stock itself?

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Speaker 4: Oh?

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Speaker 1: Absolutely, you know, because Alexis is crushing it basically on

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Speaker 1: all levels. I love. That's something so small, right, just

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Speaker 1: fifty bucks invested in a single stock that that can

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Speaker 1: lead to such amazing results. And there are so many

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Speaker 1: different ways that you can attempt to teach your kids

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Speaker 1: about money, but I think the main thing is to

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Speaker 1: actually do it.

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Speaker 2: Don't overthink it, but find different ways that you know

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Speaker 2: where you're going to be able to connect with them.

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Speaker 1: Do the smart things yourself, and then find ways to

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Speaker 1: help them do the stuff you want them to be

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Speaker 1: doing as they grow up. And that's exactly what Alexis's

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Speaker 1: mom did.

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Speaker 2: Include them on those different money conversations that you're going

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Speaker 2: to have all your parents out there, talked with them

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Speaker 2: about the different concepts regularly, right, like demystify them, but

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Speaker 2: also put money in their hands so that they can actually.

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Speaker 1: Do some cool stuff with it.

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Speaker 2: For all parents out there who may not have any

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Speaker 2: money invested in the stock market for their kids even

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Speaker 2: invested in the next one, I don't want you to

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Speaker 2: be hearing, Oh, no, I have to start investing money

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Speaker 2: for them so that they can learn this lesson. I

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Speaker 2: don't think that that's required per se, because for Alexis

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Speaker 2: this definitely work. But all kids are different, and you

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Speaker 2: need to find the way that you're going to be

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Speaker 2: able to connect with your individual kid. This is not

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Speaker 2: that buying stocks or an index fund is going to

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Speaker 2: be like their golden ticket to ensure that your kid

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Speaker 2: ends up like Alexis.

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Speaker 1: It worked for Alexis, but I don't want folks out

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Speaker 1: there scrambling to, oh, we've got to get money in

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Speaker 1: the market right now. And part of it is just

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Speaker 1: it makes me think of if you want your kid

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Speaker 1: to love baseball like you do, we'll sit down and

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Speaker 1: watch games with them, go out in the yard and

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Speaker 1: play with them, follow the box scores kind of stuff, right,

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Speaker 1: have a favorite player, and there's all of these different

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Speaker 1: things you can do. They might not become as big

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Speaker 1: of a baseball fan as you, and that's fine, but

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Speaker 1: they'll probably may or may you know, take at least

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Speaker 1: appreciate it in some way for more fashion, they'll at

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Speaker 1: least remember that that's something you did together, right, and

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Speaker 1: it clearly made a world of difference for Alexis here.

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Speaker 1: But let's get to the heart of her question, Matt, Like,

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Speaker 1: what should she do with this fifty bucks that turned

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Speaker 1: into more than six k? Which is what happens when

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Speaker 1: you invest small amounts of money become really big. So

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Speaker 1: should she sell that Pepsi stock? First things first, I

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Speaker 1: would say this is actually a really minor decision. It's

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Speaker 1: not really all that important in the grand scheme of things,

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Speaker 1: given everything else that Alexis mentioned. Right, If let's say

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Speaker 1: she was just a budding investor just getting started, this

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Speaker 1: money would be like probably a lot more important. It'd

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Speaker 1: be crucial to get it into the right account, But

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Speaker 1: since she's already investing like gangbusters, it's just a really

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Speaker 1: small potatoes decision. It's not that she shouldn't think about it,

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Speaker 1: it's or try to optimize those dollars. It's just that

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Speaker 1: it's not going to make her break her future. So

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Speaker 1: we'll do our best to give you the best advice.

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Speaker 1: But it's also important to note that you're doing so

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Speaker 1: many of the right things, and that what you choose

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Speaker 1: to do with this small amount of money, it's a

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Speaker 1: large amount of money, but it's small in comparison to

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Speaker 1: all the other things you've been able to accomplish.

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Speaker 2: That's right, Yeah, because of how intentional she's been saving

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Speaker 2: and investing thus far. And we'll say too, it's worth

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Speaker 2: kind of covering a definition she mentioned.

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Speaker 1: I don't know if folks.

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Speaker 2: Heard her say it, but she said drip stock, which

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Speaker 2: stands for a dividend reinvestment plan, and that's where the

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Speaker 2: dividends from individual stocks go back into buy more of

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Speaker 2: that stock, oftentimes at a discounted rate. So when she

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Speaker 2: says drips, Joel, she's not talking about like nice clothes

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Speaker 2: and jewelry.

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Speaker 1: Or the worst kind of coffee maker nice watches. Oh yeah,

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Speaker 1: by the.

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Speaker 2: Way, did you you talked about getting that Garman Garman

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Speaker 2: watch for prime go waiting on a deal? Okay, you

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Speaker 2: didn't get one, No, gotcha. So we're not talking about

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Speaker 2: that kind of drip we're talking we're talking about drip stocks.

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Speaker 2: But six thousand dollars in a single stock. Like, again,

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Speaker 2: this sounds like.

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Speaker 1: A lot of money. But if it is less than

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Speaker 1: five percent of your overall investment portfolio, that we don't

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Speaker 1: think you need to make a change if you don't

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Speaker 1: want to, if this is something and you want to

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Speaker 1: kind of hang on to be to kind of honor

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Speaker 1: your mom. But like, as long as you're taking the

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Speaker 1: boring route with the majority of your investments, which sounds

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Speaker 1: like you are, we've got no problem with you having

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Speaker 1: a small position, again relatively speaking, because you are doing

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Speaker 1: so well with the rest of your money within a

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Speaker 1: single stock, not even within a single stock of an

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Speaker 1: actual company that makes something, but even of crypto. I mean,

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Speaker 1: we bash on crypto because what is it that crypto makes.

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Speaker 1: I don't know. It's just about trust, It's about the

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Speaker 1: promise of a decentralized currency in the future, if you

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Speaker 1: want to even dabble with crypto, as long as it's

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Speaker 1: under that five percent threshold, we are okay with that. Yeah.

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Speaker 1: The thing is, Matt, a lot of different people in

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Speaker 1: different financial situations could ask us this same question. We

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Speaker 1: give a different answer. It really is. It depends, and

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Speaker 1: so much depends on where you're at with your own

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Speaker 1: personal financial situation. And like you said, if it's a small,

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Speaker 1: small percentage of your portfolio, you can keep it around

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Speaker 1: and not feel bad about it. But if it's a

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Speaker 1: much larger percentage your assets, then you're gonna want to

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Speaker 1: do something about it and create more diversity with your

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Speaker 1: investment holdings. Right did she say? Yeah?

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Speaker 2: I think it's something like twenty five thousand a year

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Speaker 2: as unless she's socking away that doesn't even include her

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Speaker 2: husband's right retirement.

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Speaker 1: So they've been doing that for four or five years,

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Speaker 1: killing it. She's totally killing it exactly.

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Speaker 2: Then this is just like, yeah, a fifth of her

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Speaker 2: annual savings that goes towards then this retirement.

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Speaker 1: This drip stock is a drop in the bucket. Oh yeah,

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Speaker 1: you like that drip well? On top of that, right,

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Speaker 1: it sounds like she might not even need this money

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Speaker 1: in order to fully fund the accounts that she's trying

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Speaker 1: to fund, right so that that includes the four to

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Speaker 1: one K through work the roth IRA, Like she might

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Speaker 1: not need to tap this money in order to ensure

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Speaker 1: that those accounts get fully topped up every single year,

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Speaker 1: but you also might not fully fund it. It sounds like

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Speaker 1: alexis if you don't sell this money. It sounds like

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Speaker 1: that was the reason for tapping these you know, this

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Speaker 1: this particular stock and selling it. And we would say

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Speaker 1: funding fully funding a roth ira, you know, getting that

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Speaker 1: money into one of the best tax advantage accounts. It's

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Speaker 1: high up on our list of on the financial to

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Speaker 1: do list, and so we probably would sell this stock,

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Speaker 1: we would pay the likely reasonable capital gains tax and

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Speaker 1: then funnel those dollars into the roth IRA instead. The

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Speaker 1: truth is, the more money that you can shelter in

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Speaker 1: that account, the better off you're going to be, Especially

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Speaker 1: with someone who's building a net worth of what you're

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Speaker 1: looking to build. That WROTH money is going to come

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Speaker 1: in a big time handy years and decades down the

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Speaker 1: road when you're getting closer to retirement. That's right, Yeah,

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Speaker 1: that's what the mathematics number crunching nerd would do. You

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Speaker 1: would say, Okay, this is not optimized. I am unlikely

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Speaker 1: to see as much growth within this individual company. I

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Speaker 1: am likely to see more volatility with this company over

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Speaker 1: the long haul. Let's get this invested.

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Speaker 2: Within the vehicle of the wroth, within actual index funds.

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Speaker 2: But you know, there's also a part of me that's

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Speaker 2: just like, it doesn't matter, just just just hang onto

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Speaker 2: it if you want to, Cause you kind of mentioned

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Speaker 2: holding onto it specifically for the story, but just so

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Speaker 2: you know, like the story doesn't die when you sell

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Speaker 2: the stock. If you feel like holding onto it, like

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Speaker 2: if that gives you some sort of mental advantage, then

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Speaker 2: certainly keep it around. But the story like that should

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Speaker 2: be inspiring to you and to others either way, no

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Speaker 2: matter if you still have it and it is growing,

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Speaker 2: or whether or not you sold it. The fact is,

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Speaker 2: it's what's happened in the past, what's happened within the past,

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Speaker 2: the fact that your mom did this, the fact that

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Speaker 2: she is intentional, the fact that you are being intentional

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Speaker 2: at the end of the day, that's the tribute to

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Speaker 2: your mom, and sort of the path and the direction

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Speaker 2: I guess that your mom pointed you down.

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Speaker 1: That's what I love now. It makes me think of

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Speaker 1: having like a lucky rabbits foot in your pocket. Everybody

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Speaker 1: knows that the actual rabbits foot isn't doing anything to

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Speaker 1: help you accomplish more, do more, or be better right

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Speaker 1: at the thing they're setting out to do. If you're

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Speaker 1: like a sprinter and you keep it in your pocket

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Speaker 1: or what is it cool runnings with the egg right

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Speaker 1: in that Saka has in the front of a thing

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Speaker 1: like that's not actually doing anything to help them win

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Speaker 1: the bob sled race. But if it does give you

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Speaker 1: that kind of mental advantage and it's not taking up

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Speaker 1: a massive percentage of your net worth, keep it around

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Speaker 1: if you feel like, yeah, hey, hold none of this thing.

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Speaker 1: It reminds me continually that I can and will accomplish

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Speaker 1: awesome stuff with my finances. We don't keep it. It's

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Speaker 1: totally fine, yep. But I think you also can come

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Speaker 1: to that realization that hey, this is like a lucky

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Speaker 1: rabbit's foot, and if my money is better off, I've

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Speaker 1: learned the lessons already. I don't necessarily need to keep

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Speaker 1: this around for posterity sake. I'm crushing it. I'm going

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Speaker 1: to continue to crush it, whether I learn keep the

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Speaker 1: single stock around or not, make note and then move

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Speaker 1: forward with it. But Alexis, hopefully this caused you to

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Speaker 1: think about this maybe in a way that you hadn't yet.

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Speaker 1: But we wish you the absolute best, Joel.

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Speaker 2: We've got a few other additional questions to get to,

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Speaker 2: including that question about an employer matched vacation savings plan.

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Speaker 1: Will get so that and others right after this. All right,

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Speaker 1: we're back. We've got more money questions to get to

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Speaker 1: on this Ask htm episode. Matt, you just mentioned employer

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Speaker 1: vacation plans. We as employers suck. We have not been

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Speaker 1: contributing to our own vacation planes to nearly this degree. Well,

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Speaker 1: we'll talk about that, though it might not be all

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Speaker 1: it's cracked up to be. We'll talk about that in

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Speaker 1: just a second, but first let's get to a question

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Speaker 1: about saving helping a loved one save up for their future.

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Speaker 4: Hey guys, this is Tristan from Massachusetts. Just became an

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Speaker 4: uncle a couple months ago for the first time and

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Speaker 4: was hoping to start a roth Ira for my niece

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Speaker 4: as soon as possible. My thought was. I was going

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Speaker 4: to make her a brokerage account on Vanguard with some

432
00:19:26,880 --> 00:19:30,520
Speaker 4: dividend stocks and use those dividend payments as an income

433
00:19:30,600 --> 00:19:33,600
Speaker 4: to generate a roth Ira. I don't know if that's

434
00:19:33,920 --> 00:19:35,560
Speaker 4: possible or not, but let me know what you guys

435
00:19:35,560 --> 00:19:38,400
Speaker 4: think makes for the show. And appreciate all the help.

436
00:19:39,040 --> 00:19:43,199
Speaker 1: All right, Tristan, congrats on becoming an uncle, and I

437
00:19:43,240 --> 00:19:47,320
Speaker 1: specifically love that you have immediately gone to thinking about money.

438
00:19:48,480 --> 00:19:50,679
Speaker 2: Can I impact her for good? I know I have

439
00:19:50,720 --> 00:19:52,399
Speaker 2: some cash. I love that he's wanting to get his

440
00:19:52,520 --> 00:19:54,080
Speaker 2: niece started early.

441
00:19:53,840 --> 00:19:57,800
Speaker 1: From like a banky first or like a fancy new pacifier.

442
00:19:58,040 --> 00:19:59,200
Speaker 1: The fancy giraffe.

443
00:19:59,440 --> 00:20:02,320
Speaker 2: Is that still high? The French French draft chewing toy?

444
00:20:02,480 --> 00:20:04,120
Speaker 2: I think it's a classic. I think it always works,

445
00:20:04,240 --> 00:20:07,320
Speaker 2: it always takes around. But Tristan, he actually might play

446
00:20:07,359 --> 00:20:10,320
Speaker 2: a role similar to what Alexis's mom.

447
00:20:10,320 --> 00:20:14,000
Speaker 1: Played for her. But but don't forget don't just sock

448
00:20:14,080 --> 00:20:17,120
Speaker 1: money away into accounts for her future, but also make

449
00:20:17,200 --> 00:20:19,520
Speaker 1: sure that you're able hopefully. I mean, this is your niee,

450
00:20:19,560 --> 00:20:21,120
Speaker 1: so you only have a limited amount of I guess

451
00:20:21,119 --> 00:20:23,840
Speaker 1: what you can do. But teacher, at the same time,

452
00:20:23,880 --> 00:20:26,280
Speaker 1: granted she's a baby at this point, she's probably not

453
00:20:26,320 --> 00:20:29,760
Speaker 1: even crawling yet. Uh maybe she's just home from the hospital.

454
00:20:29,800 --> 00:20:32,600
Speaker 1: I don't know. But as she continues to grow alongside

455
00:20:32,680 --> 00:20:36,040
Speaker 1: the wealth that you are hopefully helping her to build,

456
00:20:36,359 --> 00:20:38,400
Speaker 1: take the time to discuss what it is that you're

457
00:20:38,400 --> 00:20:40,480
Speaker 1: doing and why it is that you're doing that, And

458
00:20:40,520 --> 00:20:43,280
Speaker 1: I think that will have an an even bigger impact

459
00:20:43,359 --> 00:20:45,600
Speaker 1: than the dollars alone. Would you don't want to just

460
00:20:45,800 --> 00:20:47,440
Speaker 1: set her up like you don't want to like a

461
00:20:47,480 --> 00:20:50,080
Speaker 1: trust fund, baby. I don't think you're thinking, you know

462
00:20:50,440 --> 00:20:53,159
Speaker 1: of tho that that kind of level of wealth. But

463
00:20:53,359 --> 00:20:55,840
Speaker 1: make sure that you're being intentional in other ways as well.

464
00:20:55,880 --> 00:20:57,360
Speaker 1: He's just got a few mill he's trying to throw

465
00:20:57,359 --> 00:20:59,720
Speaker 1: in her direct mill. Yeah, that's all, which is super generous,

466
00:20:59,760 --> 00:21:02,240
Speaker 1: trist and which that's great. I'm sure it's nothing close

467
00:21:02,280 --> 00:21:04,640
Speaker 1: to that amount. But I think your point well taken, Matt.

468
00:21:04,680 --> 00:21:07,439
Speaker 1: I think when you're giving money to someone, yeah, you

469
00:21:07,480 --> 00:21:11,040
Speaker 1: also want them to that's half the beauty, or more

470
00:21:11,080 --> 00:21:12,760
Speaker 1: than half the beauty. It's not the wealth that's growing

471
00:21:12,760 --> 00:21:15,719
Speaker 1: on their behalf. It's helping them mentally understand what's going on,

472
00:21:16,000 --> 00:21:18,879
Speaker 1: connect them to the wealth. Growing reality that's occurring, so

473
00:21:18,920 --> 00:21:21,480
Speaker 1: that they can continue to implement that as they get older,

474
00:21:21,480 --> 00:21:23,840
Speaker 1: as they move forward in their own lives, as they

475
00:21:23,840 --> 00:21:26,959
Speaker 1: get closer to adulthood. But let's talk about maybe the

476
00:21:27,000 --> 00:21:29,560
Speaker 1: best way to start growing some money for her on

477
00:21:29,600 --> 00:21:33,440
Speaker 1: her behalf and not just talk right, actual dollars. Yeah,

478
00:21:33,480 --> 00:21:36,119
Speaker 1: and so Tristan, he mentioned the roth Ira, which is

479
00:21:36,200 --> 00:21:39,160
Speaker 1: of course one of our favorite investment vehicles. We love it.

480
00:21:39,480 --> 00:21:42,800
Speaker 1: And it's not because she's literally a newborn though that

481
00:21:42,880 --> 00:21:45,439
Speaker 1: your niece can't have a roth Ira. It's because she

482
00:21:45,480 --> 00:21:48,000
Speaker 1: doesn't have earned income and if she gets a little older,

483
00:21:48,080 --> 00:21:51,520
Speaker 1: maybe gets her first babysitting or fast food job. I

484
00:21:51,560 --> 00:21:54,520
Speaker 1: think doing something like an uncle match could be really helpful, right,

485
00:21:54,680 --> 00:21:57,240
Speaker 1: doubling what she's willing to invest in that roth that's

486
00:21:57,240 --> 00:22:00,040
Speaker 1: a great way to incentivize her setting aside money for

487
00:22:00,040 --> 00:22:03,919
Speaker 1: her future. And if she's like a Gerber baby model

488
00:22:03,920 --> 00:22:06,560
Speaker 1: already then and she's making income from that, then you

489
00:22:06,560 --> 00:22:10,000
Speaker 1: could contribute to a roth for her. But I'm doubtful

490
00:22:10,080 --> 00:22:12,399
Speaker 1: that's the case. And so what I would say is

491
00:22:12,560 --> 00:22:16,760
Speaker 1: doing the match with her in the future. It'll get

492
00:22:16,760 --> 00:22:18,520
Speaker 1: her excited because she's going to get to see an

493
00:22:18,560 --> 00:22:22,160
Speaker 1: instantaneous return as you're pitching in some of your dollars

494
00:22:22,160 --> 00:22:24,439
Speaker 1: on her behalf for that ROTH. It's kind of a

495
00:22:24,480 --> 00:22:28,680
Speaker 1: great way to do both the financial contribution as well

496
00:22:28,720 --> 00:22:30,919
Speaker 1: as teaching a lesson at the same time. But that

497
00:22:30,960 --> 00:22:34,480
Speaker 1: doesn't necessarily involve socking money away for her, right now.

498
00:22:34,520 --> 00:22:34,920
Speaker 1: That's right.

499
00:22:35,000 --> 00:22:37,040
Speaker 2: Yeah, And by the way, Tristan, you were specifically asking

500
00:22:37,040 --> 00:22:40,400
Speaker 2: about setting up a brokerage account so that she's earning dividends,

501
00:22:40,400 --> 00:22:42,960
Speaker 2: so she does have earned income that she can stock

502
00:22:43,000 --> 00:22:46,399
Speaker 2: away into a roth IRA earned income or dividends earned

503
00:22:46,440 --> 00:22:49,960
Speaker 2: from stocks like that actually don't qualify as earnings that

504
00:22:49,960 --> 00:22:52,480
Speaker 2: would then allow her to contribute to a row. So

505
00:22:52,520 --> 00:22:55,960
Speaker 2: truly it would require her actually having a job, like

506
00:22:56,000 --> 00:22:59,560
Speaker 2: being a Gerber baby model that kind of thing. And

507
00:22:59,640 --> 00:23:01,800
Speaker 2: so since that's kind off the table, the next best

508
00:23:01,840 --> 00:23:05,120
Speaker 2: thing would be to contribute to a five twenty nine

509
00:23:05,200 --> 00:23:08,520
Speaker 2: plan in her name. If her parents haven't opened one yet,

510
00:23:08,720 --> 00:23:10,439
Speaker 2: I would first of all encourage them to do so.

511
00:23:10,960 --> 00:23:13,679
Speaker 2: And the main goal of a five twenty nine plan is,

512
00:23:13,720 --> 00:23:17,000
Speaker 2: of course to pay for education. But because of recent

513
00:23:17,080 --> 00:23:21,119
Speaker 2: changes to five twenty nine plans, they're far more flexible now.

514
00:23:21,200 --> 00:23:23,639
Speaker 2: And we used to actually not be huge fans of

515
00:23:23,680 --> 00:23:24,679
Speaker 2: five twenty nine plans.

516
00:23:24,720 --> 00:23:27,439
Speaker 1: Now we are because they just harness that money and

517
00:23:27,480 --> 00:23:29,640
Speaker 1: they said they can only go for one thing and

518
00:23:29,760 --> 00:23:32,680
Speaker 1: one thing only, and guess what, like that constrain those

519
00:23:32,720 --> 00:23:34,200
Speaker 1: dollars a little too much for our liking.

520
00:23:34,240 --> 00:23:36,800
Speaker 2: It makes me think of like tools in the kitchen.

521
00:23:36,840 --> 00:23:38,880
Speaker 2: It's sort of like getting a garlic press or something.

522
00:23:38,880 --> 00:23:41,000
Speaker 2: It's like, oh, that's nice, but you can only use

523
00:23:41,000 --> 00:23:43,520
Speaker 2: it for that one thing. And instead that gallic press

524
00:23:43,600 --> 00:23:46,680
Speaker 2: Scott turned into a chef's knife or a whisk or

525
00:23:46,760 --> 00:23:49,480
Speaker 2: something that you could use for multi many different things.

526
00:23:49,880 --> 00:23:52,320
Speaker 2: But the money that you are putting into that five

527
00:23:52,359 --> 00:23:55,760
Speaker 2: twenty nine on her behalf up to thirty five thousand dollars.

528
00:23:55,920 --> 00:23:59,080
Speaker 2: It can eventually, decades down the road, be turned into roth.

529
00:23:59,000 --> 00:23:59,760
Speaker 1: Dollars as well.

530
00:24:00,200 --> 00:24:03,440
Speaker 2: Just a much more flexibility that now a company is

531
00:24:03,480 --> 00:24:06,040
Speaker 2: five to twenty nine plans. And that's if I were

532
00:24:06,040 --> 00:24:08,919
Speaker 2: in your shoes, that would be the vehicle, the investment

533
00:24:09,000 --> 00:24:10,199
Speaker 2: vehicle that I would be considering.

534
00:24:10,320 --> 00:24:13,800
Speaker 1: Yep, agreed, And again a few years ago we probably

535
00:24:13,840 --> 00:24:15,920
Speaker 1: would not have even said this is definitely where you

536
00:24:15,920 --> 00:24:18,119
Speaker 1: should go invest for her future college. And there's a

537
00:24:18,119 --> 00:24:20,600
Speaker 1: lot of questions that get involved with that too. Because

538
00:24:20,640 --> 00:24:23,159
Speaker 1: of the flexibility that five twenty nine plans now have

539
00:24:23,200 --> 00:24:25,760
Speaker 1: at their disposal, they make a lot more sense. And

540
00:24:26,119 --> 00:24:27,080
Speaker 1: you know, there are going to be a lot of

541
00:24:27,160 --> 00:24:29,280
Speaker 1: kids who if you start putting some money and now,

542
00:24:29,280 --> 00:24:31,399
Speaker 1: they will have tens of thousands of dollars that they

543
00:24:31,440 --> 00:24:34,680
Speaker 1: can convert to roth money later, really setting themselves up

544
00:24:34,840 --> 00:24:38,240
Speaker 1: for a killer retirement. But we also want to mention

545
00:24:38,400 --> 00:24:40,399
Speaker 1: that getting a head start is cool. I get the

546
00:24:40,440 --> 00:24:44,040
Speaker 1: desire and the compounding returns for money invested as a

547
00:24:44,119 --> 00:24:45,600
Speaker 1: zero year old that could be substantial.

548
00:24:45,640 --> 00:24:45,760
Speaker 4: Right.

549
00:24:45,760 --> 00:24:50,360
Speaker 1: We always talk about how much time impacts compounding and

550
00:24:50,520 --> 00:24:53,520
Speaker 1: your overall ability to build wealth. But the nice thing

551
00:24:53,520 --> 00:24:56,240
Speaker 1: about waiting a little bit is that you personally will

552
00:24:56,320 --> 00:24:58,359
Speaker 1: likely be in a better financial position, Right, You'll have

553
00:24:58,640 --> 00:25:01,960
Speaker 1: greater levels of financial flexibility, and at the same time,

554
00:25:02,200 --> 00:25:04,560
Speaker 1: she'll be able to participate and learn from your involvement

555
00:25:04,800 --> 00:25:08,000
Speaker 1: in her financial future. So yeah, not necessarily trying to

556
00:25:08,040 --> 00:25:10,119
Speaker 1: like dissuade you from getting the ball rolling now, but

557
00:25:10,160 --> 00:25:11,800
Speaker 1: we just want to encourage you to size up your

558
00:25:11,800 --> 00:25:14,560
Speaker 1: own financial situation, like how are your savings and investments

559
00:25:14,560 --> 00:25:17,240
Speaker 1: looking if you're not in money gear seven, you should

560
00:25:17,320 --> 00:25:18,719
Speaker 1: likely hold off for a bit. You can see our

561
00:25:18,760 --> 00:25:20,440
Speaker 1: money gears. If you got to have money dot com

562
00:25:20,480 --> 00:25:22,760
Speaker 1: click start here. But if you're not all the way

563
00:25:22,800 --> 00:25:25,119
Speaker 1: up in that position where the world is your oyster

564
00:25:25,240 --> 00:25:28,680
Speaker 1: financially speaking, and you've you've saved, invested in paid down

565
00:25:28,720 --> 00:25:32,240
Speaker 1: debt to a substantial degree, this should probably be kind

566
00:25:32,280 --> 00:25:34,800
Speaker 1: of a hold off and wait a type of situation,

567
00:25:35,080 --> 00:25:38,040
Speaker 1: although it's something that you can and likely should pursue

568
00:25:38,160 --> 00:25:38,719
Speaker 1: in the future.

569
00:25:38,880 --> 00:25:41,159
Speaker 2: Yeah, and hopefully it can fuel you to make the

570
00:25:41,240 --> 00:25:43,399
Speaker 2: right decisions now so that you have the capacity and

571
00:25:43,400 --> 00:25:45,720
Speaker 2: capability to do that in the future. And it can

572
00:25:46,080 --> 00:25:47,879
Speaker 2: allow you to say, I'm going to be the uncle

573
00:25:48,160 --> 00:25:50,320
Speaker 2: that like. You know, sometimes there's guys that are like,

574
00:25:50,320 --> 00:25:52,840
Speaker 2: I want to be the fun uncle, or like I

575
00:25:52,840 --> 00:25:56,399
Speaker 2: think Tristan he was to be the money savvy uncle,

576
00:25:56,600 --> 00:25:59,439
Speaker 2: and I think that can cause him to make the

577
00:25:59,480 --> 00:26:02,439
Speaker 2: best decision now and it can not be his only Obviously,

578
00:26:02,520 --> 00:26:04,879
Speaker 2: there's lots of whys behind her money, right like the

579
00:26:04,880 --> 00:26:06,920
Speaker 2: why behind your money, but this can be one of them.

580
00:26:07,040 --> 00:26:11,680
Speaker 2: And if this helps him to maybe subscribe to one

581
00:26:11,720 --> 00:26:14,560
Speaker 2: less streaming service or like tighten the belt a little

582
00:26:14,560 --> 00:26:16,280
Speaker 2: bit more and not go out as much now, and

583
00:26:16,600 --> 00:26:18,760
Speaker 2: you know, with friends that kind of thing. I think

584
00:26:18,840 --> 00:26:22,440
Speaker 2: that can be an awesome sort of fire that gets

585
00:26:22,480 --> 00:26:24,720
Speaker 2: lit underneath of him. And I think, what are the

586
00:26:24,720 --> 00:26:26,560
Speaker 2: other things you could do just now too. I'm thinking

587
00:26:26,560 --> 00:26:29,359
Speaker 2: about you're doing this to help out your your niece,

588
00:26:29,600 --> 00:26:31,359
Speaker 2: but if you're looking to help out your brother or

589
00:26:31,440 --> 00:26:36,240
Speaker 2: your sister, offer to babysit because like new parents, man,

590
00:26:36,440 --> 00:26:38,640
Speaker 2: the ability to get away, even just for a date

591
00:26:38,720 --> 00:26:43,560
Speaker 2: night is incredibly valuable, and you are literally providing value

592
00:26:43,640 --> 00:26:45,520
Speaker 2: by doing that for free and not charging them. And

593
00:26:45,600 --> 00:26:47,520
Speaker 2: plus I think they'd be much more likely to trust

594
00:26:47,560 --> 00:26:50,760
Speaker 2: you than just some rando babysitter as they're kind of

595
00:26:51,480 --> 00:26:52,120
Speaker 2: getting out there.

596
00:26:52,440 --> 00:26:53,760
Speaker 1: And then you can turn on the How to Money

597
00:26:54,080 --> 00:26:57,200
Speaker 1: podcast in the background, and like Osmosis, it'll just seep

598
00:26:57,200 --> 00:27:00,000
Speaker 1: into her psyche and she'll be brilliant with my mind

599
00:27:00,240 --> 00:27:02,080
Speaker 1: from a young age. I love it. I think that's

600
00:27:02,119 --> 00:27:04,280
Speaker 1: how it works. It's a good plan. All. Let's get

601
00:27:04,280 --> 00:27:06,560
Speaker 1: to our next question, Matt. This one comes from someone

602
00:27:06,600 --> 00:27:09,360
Speaker 1: who wants to take vacations but wants to do it

603
00:27:09,400 --> 00:27:10,840
Speaker 1: for half the cost.

604
00:27:11,320 --> 00:27:15,639
Speaker 5: Hi, how the money, guys. This is Rebecca Ennis. I

605
00:27:15,720 --> 00:27:19,919
Speaker 5: recently started working at a large corporation in the last

606
00:27:20,040 --> 00:27:23,040
Speaker 5: year I've been there, and one of the perks they

607
00:27:23,080 --> 00:27:28,720
Speaker 5: offer is this vacation savings matching program is through a

608
00:27:28,760 --> 00:27:32,840
Speaker 5: company called a Destin or a Destin. You do have

609
00:27:32,920 --> 00:27:35,840
Speaker 5: to stay at the hotels that are on their website.

610
00:27:36,600 --> 00:27:40,280
Speaker 5: But I wondered if you guys have any experience with it,

611
00:27:40,600 --> 00:27:42,800
Speaker 5: or if there's a better thing I could be doing

612
00:27:42,840 --> 00:27:45,520
Speaker 5: with my money to save for a vacation. It just

613
00:27:45,560 --> 00:27:48,320
Speaker 5: seems like a pretty good deal since it's matched at

614
00:27:48,320 --> 00:27:52,199
Speaker 5: fifty percent. I'm specifically thinking about it for like a

615
00:27:52,440 --> 00:27:56,520
Speaker 5: trip to Disney, Like, I know that there will be

616
00:27:56,560 --> 00:27:59,679
Speaker 5: a lot of hotels there. So let me know what

617
00:27:59,680 --> 00:28:01,040
Speaker 5: you think, Matt.

618
00:28:01,040 --> 00:28:03,000
Speaker 1: Do you think you could take a trip to Destin

619
00:28:03,240 --> 00:28:07,320
Speaker 1: with your destined savings only if the hotels qualified? Yeah,

620
00:28:07,880 --> 00:28:10,960
Speaker 1: the program, So let's talk about this. It's an interesting

621
00:28:11,480 --> 00:28:15,399
Speaker 1: it's an interesting idea. It's a perk that more employers

622
00:28:15,440 --> 00:28:18,640
Speaker 1: are offering. But and I will say this, it's cool

623
00:28:18,680 --> 00:28:20,920
Speaker 1: to see that employers are offering more and more perks

624
00:28:20,920 --> 00:28:23,840
Speaker 1: to employees, right, They more of like a variety yeah,

625
00:28:23,920 --> 00:28:26,639
Speaker 1: rather than just okay, we will increase your salary. The

626
00:28:26,720 --> 00:28:30,720
Speaker 1: secondary compensation items are have like blown up in recent years.

627
00:28:30,720 --> 00:28:34,480
Speaker 1: There's money going towards your student loan payments so for example,

628
00:28:34,640 --> 00:28:38,040
Speaker 1: or you know, more more money going towards understandably so

629
00:28:38,080 --> 00:28:41,400
Speaker 1: because of the higher cost of healthcare towards your your premiums,

630
00:28:41,440 --> 00:28:45,280
Speaker 1: stuff like that. And so it's I I like seeing

631
00:28:45,760 --> 00:28:49,160
Speaker 1: these additional perks. They can really make up for a

632
00:28:49,240 --> 00:28:51,400
Speaker 1: lack of salary or maybe not quite as good of

633
00:28:51,440 --> 00:28:53,479
Speaker 1: a salary. So it's really important to kind of take

634
00:28:53,520 --> 00:28:56,400
Speaker 1: a look at the full scope, like your total compensation

635
00:28:56,560 --> 00:28:59,960
Speaker 1: package when you're looking at employers. And so Rebecca's got

636
00:29:00,120 --> 00:29:04,880
Speaker 1: this interesting secondary perk, right, which could potentially save her money.

637
00:29:05,160 --> 00:29:06,520
Speaker 1: But I don't know, do you want to start off

638
00:29:06,560 --> 00:29:10,640
Speaker 1: and start with your take on this company and the

639
00:29:10,840 --> 00:29:14,240
Speaker 1: kind of vacation saving match that some employers are instituting. Yeah,

640
00:29:14,280 --> 00:29:18,280
Speaker 1: so on paper, this it sounds like a pretty sweet setup. Yeah,

641
00:29:18,320 --> 00:29:20,520
Speaker 1: you're like, oh, like you're leaving money.

642
00:29:20,560 --> 00:29:22,280
Speaker 2: We talk about this with four to one k's right, Like,

643
00:29:22,320 --> 00:29:25,480
Speaker 2: if you're not getting the match, that's basically it's not

644
00:29:25,520 --> 00:29:27,360
Speaker 2: quite the first thing you want to want to be doing.

645
00:29:27,400 --> 00:29:29,440
Speaker 2: You want to make sure that you have a little

646
00:29:29,480 --> 00:29:31,080
Speaker 2: bit of margin in the bank. But it's literally after

647
00:29:31,120 --> 00:29:32,480
Speaker 2: that the very next thing that you need to be doing.

648
00:29:32,480 --> 00:29:34,480
Speaker 2: And I think folks might hear that and think, oh, well,

649
00:29:34,480 --> 00:29:36,960
Speaker 2: this is these are free dollars that I'm not taking

650
00:29:37,000 --> 00:29:38,479
Speaker 2: advantage of it. It's like the four to one K,

651
00:29:38,600 --> 00:29:41,440
Speaker 2: but for the vacation worthientfication, which is not truly what

652
00:29:41,520 --> 00:29:44,840
Speaker 2: four one K money eventually turns into anyway. Therefore, Yeah,

653
00:29:45,120 --> 00:29:47,080
Speaker 2: you run the computation and you think you should be

654
00:29:47,120 --> 00:29:49,920
Speaker 2: doing this. It sounds pretty cool, but I think it's

655
00:29:49,960 --> 00:29:52,080
Speaker 2: worth thinking through a few things before you start tossing

656
00:29:52,120 --> 00:29:55,080
Speaker 2: your money into this one. Even though you're getting basically

657
00:29:55,160 --> 00:29:58,040
Speaker 2: like a fifty percent discount all that vacation, and the

658
00:29:58,120 --> 00:30:01,040
Speaker 2: reason for that is because you're essentially locking up dollars

659
00:30:01,080 --> 00:30:03,440
Speaker 2: for a specific purpose. It kind of goes back to

660
00:30:03,880 --> 00:30:07,480
Speaker 2: how are we talking about how five nine accounts used

661
00:30:07,480 --> 00:30:09,800
Speaker 2: to be set up and how garlic presses are currently

662
00:30:09,880 --> 00:30:11,920
Speaker 2: set up. They're good for one thing.

663
00:30:12,440 --> 00:30:14,600
Speaker 1: At a discount, it might be two constraining.

664
00:30:14,320 --> 00:30:17,400
Speaker 2: Yeah, and with a company that might not have the

665
00:30:17,440 --> 00:30:21,200
Speaker 2: travel options that you're excited about. So for instance, like

666
00:30:21,240 --> 00:30:22,880
Speaker 2: what if you want to instead you want to stay

667
00:30:22,880 --> 00:30:25,960
Speaker 2: at an airbnb, but this vacation savings plan. It really

668
00:30:25,960 --> 00:30:28,520
Speaker 2: only works with major hotel chains, which is what it

669
00:30:28,560 --> 00:30:30,480
Speaker 2: appears to be the case. Well, if that's how it

670
00:30:30,520 --> 00:30:32,400
Speaker 2: ends up going down, that would be a massive bummer,

671
00:30:32,440 --> 00:30:35,320
Speaker 2: even if those hotel stays are costing you less than

672
00:30:35,520 --> 00:30:38,920
Speaker 2: if you booked directly with them. So it constrains your options.

673
00:30:38,920 --> 00:30:41,240
Speaker 2: Don't like that, Yeah, that's one strike against it.

674
00:30:41,320 --> 00:30:45,680
Speaker 1: Exactly. They have partnerships with some hotel chains, and so

675
00:30:46,000 --> 00:30:48,200
Speaker 1: you're like, you have to be down with staying at

676
00:30:48,240 --> 00:30:51,000
Speaker 1: the places that a destin or a destan or whatever

677
00:30:51,000 --> 00:30:53,840
Speaker 1: they are has partnerships with. And so if you're saying, well,

678
00:30:53,880 --> 00:30:55,400
Speaker 1: I like to be a little more free wheeling when

679
00:30:55,440 --> 00:30:57,680
Speaker 1: I travel, or I'm planning to go to this off

680
00:30:57,720 --> 00:31:02,440
Speaker 1: the beat destination and there is no you know, Hilton there,

681
00:31:02,600 --> 00:31:04,160
Speaker 1: well you might be out of luck when it comes

682
00:31:04,200 --> 00:31:07,360
Speaker 1: to using some of those dollars to pay for that vacation,

683
00:31:07,600 --> 00:31:10,120
Speaker 1: because guess what, now you've got money stashed in this account.

684
00:31:10,400 --> 00:31:12,160
Speaker 1: But to stay the place you really want to stay,

685
00:31:12,240 --> 00:31:14,080
Speaker 1: or to go to the place you really want to go,

686
00:31:14,520 --> 00:31:16,760
Speaker 1: then you're gonna have to go come out of pocket

687
00:31:16,760 --> 00:31:19,320
Speaker 1: with that, and you might rather have You wish you

688
00:31:19,320 --> 00:31:22,000
Speaker 1: could call those dollars back from that Pacation account, but

689
00:31:22,200 --> 00:31:24,360
Speaker 1: you might not be able to and there are other

690
00:31:24,400 --> 00:31:26,760
Speaker 1: limitations to deal with as well. Matt. It's just it's

691
00:31:26,840 --> 00:31:29,720
Speaker 1: hard to know if this company, if a Destined, is

692
00:31:29,760 --> 00:31:31,720
Speaker 1: getting as good of a deal as you could on

693
00:31:31,880 --> 00:31:34,320
Speaker 1: the open market. Right. Granted, they already have the head

694
00:31:34,320 --> 00:31:36,760
Speaker 1: start because of that fifty percent match thing, but if

695
00:31:36,760 --> 00:31:39,320
Speaker 1: your options are limited and the prices could be higher.

696
00:31:39,400 --> 00:31:41,040
Speaker 1: Let's say when you book via a destined then you'd

697
00:31:41,040 --> 00:31:43,840
Speaker 1: be able to get booking directly, it could mean that

698
00:31:43,880 --> 00:31:46,560
Speaker 1: you're not able to save quite as much as you think, and.

699
00:31:47,040 --> 00:31:49,160
Speaker 2: That fifty percent kind of gets slashed down to twenty

700
00:31:49,160 --> 00:31:51,360
Speaker 2: five percent. Right, So now you're going to this hotel

701
00:31:51,600 --> 00:31:53,680
Speaker 2: at a twenty five percent discount, which is nice, But

702
00:31:54,680 --> 00:31:56,840
Speaker 2: what I have actually chosen this hotel with a twenty

703
00:31:56,840 --> 00:31:59,200
Speaker 2: five percent discount when before I was thinking I was getting,

704
00:31:59,720 --> 00:32:01,040
Speaker 2: you know, a fifty percent discount.

705
00:32:01,040 --> 00:32:02,560
Speaker 1: So I think this is the answer is really personal,

706
00:32:02,600 --> 00:32:05,000
Speaker 1: and it's like are the constraints worth what I have

707
00:32:05,080 --> 00:32:07,280
Speaker 1: to jump through? And it sounded like with Rebecca going

708
00:32:07,280 --> 00:32:09,920
Speaker 1: to Disney Haye, if you know that they partner with

709
00:32:09,920 --> 00:32:12,560
Speaker 1: a sotel ahead of time and you're funneling. It's almost

710
00:32:12,600 --> 00:32:14,600
Speaker 1: like I'm thinking of it like an HSA, where it's

711
00:32:14,600 --> 00:32:16,200
Speaker 1: money that you're going to use it or lose it.

712
00:32:16,360 --> 00:32:17,760
Speaker 1: And if you're like, I know, I'm going to use

713
00:32:17,800 --> 00:32:20,000
Speaker 1: it for this specific hotel and it Destined partners with them,

714
00:32:20,000 --> 00:32:22,840
Speaker 1: and I'm going to get this discount I couldn't get otherwise. Cool. Yeah,

715
00:32:23,080 --> 00:32:24,880
Speaker 1: you might want to go in that direction, But if

716
00:32:24,880 --> 00:32:27,200
Speaker 1: you're like, if you're more like me, you're a little

717
00:32:27,240 --> 00:32:29,960
Speaker 1: more free, wieldly and wielding, and you just kind of

718
00:32:30,000 --> 00:32:32,200
Speaker 1: want to be able to make the best decision in

719
00:32:32,240 --> 00:32:34,240
Speaker 1: the moment for what you're interested, and as you're looking

720
00:32:34,600 --> 00:32:37,880
Speaker 1: at destinations and prices, like, maybe a Destined locks you

721
00:32:37,920 --> 00:32:40,000
Speaker 1: in a little too hard in this specific direction and

722
00:32:40,040 --> 00:32:42,400
Speaker 1: that's not what you want. For me, I wouldn't love it,

723
00:32:42,440 --> 00:32:45,440
Speaker 1: but I think for other people it could be healthy

724
00:32:45,480 --> 00:32:48,200
Speaker 1: savings on the vacation that are already planning to take.

725
00:32:48,480 --> 00:32:51,320
Speaker 1: By the way, the website does not inspire confidence in me.

726
00:32:51,480 --> 00:32:54,320
Speaker 1: We mentioned Treasury direct earlier. I swear going on a

727
00:32:54,360 --> 00:32:56,520
Speaker 1: Destin's website makes me feel like I'm at Treasury Direct,

728
00:32:56,600 --> 00:32:58,680
Speaker 1: or makes it feel like your Treasury Direct is a

729
00:32:58,680 --> 00:33:02,680
Speaker 1: well designed website, So it definitely doesn't seem like the

730
00:33:02,720 --> 00:33:04,800
Speaker 1: site's been updated in like fifteen twenty years, right, So

731
00:33:04,840 --> 00:33:07,280
Speaker 1: if the portal, the website, the interface are that bad,

732
00:33:07,600 --> 00:33:09,600
Speaker 1: it truly might be more trouble than it's worth. I

733
00:33:09,640 --> 00:33:09,959
Speaker 1: don't know.

734
00:33:10,080 --> 00:33:11,520
Speaker 2: Yeah, by the way, I think, I think you said

735
00:33:11,640 --> 00:33:13,120
Speaker 2: HSA as far as they use it or lose it,

736
00:33:13,240 --> 00:33:15,720
Speaker 2: I said, oh, okay, yes, so the FAA is regardless

737
00:33:15,760 --> 00:33:16,240
Speaker 2: of what you said.

738
00:33:16,320 --> 00:33:19,240
Speaker 1: I swear I heard you say HSA. Maybe, but regardless

739
00:33:19,240 --> 00:33:23,000
Speaker 1: we're talking about because hupending accounts, not health savings accounts. Yeah,

740
00:33:23,000 --> 00:33:24,200
Speaker 1: you don't. You don't use it or lose it with

741
00:33:24,520 --> 00:33:25,200
Speaker 1: h essays.

742
00:33:25,360 --> 00:33:27,640
Speaker 2: But it does seem like that there are a bunch

743
00:33:27,680 --> 00:33:30,520
Speaker 2: of different, like major employers out there, major companies like

744
00:33:30,560 --> 00:33:33,480
Speaker 2: I think it's like maybe Blue Cross, Blue Shields, Starbucks,

745
00:33:34,040 --> 00:33:36,840
Speaker 2: but that they've partnered with adstin in order to cater

746
00:33:36,960 --> 00:33:38,720
Speaker 2: to their employees, right to make it seem like that

747
00:33:38,720 --> 00:33:42,640
Speaker 2: they're offering these benefits that people are clamoring for. But

748
00:33:43,000 --> 00:33:44,000
Speaker 2: given that there are.

749
00:33:44,040 --> 00:33:47,600
Speaker 1: No tax advantages to this account, and the lack of

750
00:33:47,640 --> 00:33:51,520
Speaker 1: information available on the internet about the company, there's there's

751
00:33:51,560 --> 00:33:54,360
Speaker 1: neither a ton of good press, but there's also like

752
00:33:54,440 --> 00:33:56,560
Speaker 1: not a ton of bad press either. It's just kind

753
00:33:56,560 --> 00:33:57,680
Speaker 1: of like just no press. Mah.

754
00:33:58,200 --> 00:33:59,960
Speaker 2: It's just I think that tells you enough right there

755
00:34:00,080 --> 00:34:02,000
Speaker 2: that I think they do what they say. I don't

756
00:34:02,000 --> 00:34:04,760
Speaker 2: think it's a scam, but I think the results lie

757
00:34:05,000 --> 00:34:08,200
Speaker 2: in the praise that you're not seeing. Essentially, I think

758
00:34:08,200 --> 00:34:10,040
Speaker 2: they do what they say, but people are probably like, well,

759
00:34:10,440 --> 00:34:13,239
Speaker 2: probably won't do that again. I think it might be

760
00:34:13,280 --> 00:34:16,719
Speaker 2: the general attitude. But having said like, I'd still likely

761
00:34:16,840 --> 00:34:20,719
Speaker 2: opt to not participate unless you feel comfortable comfortable about

762
00:34:20,719 --> 00:34:24,120
Speaker 2: the booking options and the process on the adestined site, Like,

763
00:34:24,320 --> 00:34:27,680
Speaker 2: don't do it because of the theory the principle of oh,

764
00:34:27,760 --> 00:34:29,759
Speaker 2: I'm leaving money on the table. Do it because you

765
00:34:29,800 --> 00:34:32,279
Speaker 2: have found the exact hotel that you want to stay at,

766
00:34:32,760 --> 00:34:35,160
Speaker 2: and you're and it becomes a practical decision that you

767
00:34:35,160 --> 00:34:36,560
Speaker 2: can say, oh, we will now be able to stay

768
00:34:36,560 --> 00:34:38,520
Speaker 2: at the hotel that we want to say, perfect, may

769
00:34:38,560 --> 00:34:41,120
Speaker 2: as well funnel it through. It's like swag Bucks or

770
00:34:41,120 --> 00:34:42,680
Speaker 2: some of these other sites or whatever. It's just like, well,

771
00:34:42,719 --> 00:34:44,640
Speaker 2: if I'm going to do it anyway, then maybe we'll

772
00:34:44,640 --> 00:34:47,680
Speaker 2: take the additional step and juice our returns, will you know,

773
00:34:47,760 --> 00:34:49,200
Speaker 2: get a little bit of a bonus in.

774
00:34:49,120 --> 00:34:52,680
Speaker 1: This case, pay a little bit less. Otherwise I probably

775
00:34:52,800 --> 00:34:54,480
Speaker 1: wouldn't mess with it. It could be like the dog who

776
00:34:54,520 --> 00:34:55,960
Speaker 1: catches the car and then you don't know what to

777
00:34:55,960 --> 00:34:57,520
Speaker 1: do with it, and you're like, I got the deal,

778
00:34:58,239 --> 00:35:01,640
Speaker 1: but now now I gotta find somewhere to spend it, exactly,

779
00:35:01,920 --> 00:35:03,440
Speaker 1: And so you might be locked in in a way

780
00:35:03,480 --> 00:35:05,680
Speaker 1: with it. Just it just sucks and you don't get

781
00:35:05,719 --> 00:35:07,799
Speaker 1: the vacation you were hoping for. Yeah, maybe you got

782
00:35:07,800 --> 00:35:10,120
Speaker 1: a cheaper vacation than you were. You thought less, you

783
00:35:10,120 --> 00:35:11,600
Speaker 1: were spend less than you thought you were going to,

784
00:35:11,840 --> 00:35:15,239
Speaker 1: but you don't necessarily get the vacation you wanted exactly. Yeah.

785
00:35:15,239 --> 00:35:17,200
Speaker 2: And by the way, we're back at taking your vacation time.

786
00:35:17,200 --> 00:35:20,239
Speaker 2: It's something that we are all about because not only

787
00:35:20,320 --> 00:35:23,000
Speaker 2: is it good for the soul, but every study out

788
00:35:23,040 --> 00:35:25,080
Speaker 2: there that we've seen it points to the fact that

789
00:35:25,160 --> 00:35:27,799
Speaker 2: folks who take all or most of their vacation time

790
00:35:27,880 --> 00:35:30,440
Speaker 2: they end up performing better in their jobs in their

791
00:35:30,480 --> 00:35:32,880
Speaker 2: careers too, right, Like, so they're more arrested, they feel

792
00:35:32,920 --> 00:35:35,680
Speaker 2: like human beings again, but they're actually more effective and

793
00:35:35,880 --> 00:35:38,600
Speaker 2: make you basically end up being a better employee, which

794
00:35:38,640 --> 00:35:41,520
Speaker 2: means you are likely going to then earn more money.

795
00:35:41,560 --> 00:35:44,920
Speaker 2: So literally, you are giving up money by not taking

796
00:35:44,920 --> 00:35:45,360
Speaker 2: this vacation.

797
00:35:45,360 --> 00:35:48,319
Speaker 1: People who take less of their vacation time have they

798
00:35:48,400 --> 00:35:50,960
Speaker 1: earned less over the life of their career. So if

799
00:35:50,960 --> 00:35:53,080
Speaker 1: you take your vacation, you're going to be healthier, wealthier,

800
00:35:53,120 --> 00:35:56,080
Speaker 1: and wiser. I think that's what the doctor and philosopher

801
00:35:56,320 --> 00:35:59,560
Speaker 1: and Joel said. Yeah, We've got a couple more questions

802
00:35:59,560 --> 00:36:03,239
Speaker 1: to get to, including that question about an assumable mortgage

803
00:36:03,400 --> 00:36:06,880
Speaker 1: and one that we've never really talked about the benefit

804
00:36:06,920 --> 00:36:09,440
Speaker 1: of cell phone protection. When you pay for your monthly

805
00:36:09,600 --> 00:36:11,759
Speaker 1: cell phone bill with a credit card, Well, what if

806
00:36:11,760 --> 00:36:13,640
Speaker 1: you have Mint Mobile? Does it still work? We'll get

807
00:36:13,680 --> 00:36:14,680
Speaker 1: to those right it for this.

808
00:36:24,120 --> 00:36:25,759
Speaker 2: All right, man, we are back from the break time

809
00:36:25,800 --> 00:36:29,600
Speaker 2: talking about cell phones cell phone insurance specifically, let's hear

810
00:36:29,680 --> 00:36:31,400
Speaker 2: this question from corin.

811
00:36:31,640 --> 00:36:33,879
Speaker 6: Hi, Matt, and Joel. This is corinn Form you Toica

812
00:36:33,960 --> 00:36:36,160
Speaker 6: New York. I have a quick question about the cell

813
00:36:36,200 --> 00:36:39,319
Speaker 6: phone insurance benefit that comes with some credit cards. I

814
00:36:39,360 --> 00:36:41,200
Speaker 6: was looking at the fine print the other day and

815
00:36:41,239 --> 00:36:43,839
Speaker 6: it's said that to be eligible for the benefit, you

816
00:36:43,880 --> 00:36:46,640
Speaker 6: need to pay your monthly cell phone bill with the card.

817
00:36:47,200 --> 00:36:50,040
Speaker 6: The problem is I use Mint Mobile, which only offers

818
00:36:50,160 --> 00:36:52,960
Speaker 6: quarterly or annual billing, so I'm not sure if I'm

819
00:36:53,000 --> 00:36:56,880
Speaker 6: actually eligible. I tried to call customer service for both

820
00:36:57,040 --> 00:37:00,640
Speaker 6: Chase and MasterCard and got absolutely nowhere and then connected

821
00:37:00,719 --> 00:37:05,000
Speaker 6: after twenty frustrating minutes, so I'm giving up and asking

822
00:37:05,040 --> 00:37:07,319
Speaker 6: if you guys can figure it out. Thank you so much.

823
00:37:07,400 --> 00:37:10,239
Speaker 1: I love the show, Matt. I'm so glad Karen asked

824
00:37:10,239 --> 00:37:12,799
Speaker 1: this question because it's one that had kind of been

825
00:37:12,840 --> 00:37:14,520
Speaker 1: in the recesses of my mind, but I've been too

826
00:37:14,600 --> 00:37:17,120
Speaker 1: lazy to actually kind of figure it out. And her

827
00:37:17,480 --> 00:37:19,120
Speaker 1: sounds like Kurrent got a little lazy there at the

828
00:37:19,160 --> 00:37:23,560
Speaker 1: end too, because she was how dare you, Joel. Now,

829
00:37:23,920 --> 00:37:26,480
Speaker 1: you're understandably right, because when you kind of I'm glad

830
00:37:26,480 --> 00:37:29,799
Speaker 1: that she advocated for herself, that she was pushing back

831
00:37:29,840 --> 00:37:31,840
Speaker 1: of these companies trying to get an answer, but man,

832
00:37:32,239 --> 00:37:34,400
Speaker 1: there's only so much tire spinning you can do. Exactly

833
00:37:34,719 --> 00:37:37,000
Speaker 1: she got stonewalled, and you know what, She's not alone.

834
00:37:37,080 --> 00:37:39,480
Speaker 1: I got stonewalled too, so I was reaching out to

835
00:37:39,560 --> 00:37:42,520
Speaker 1: multiple companies. I got tired of asking the question when

836
00:37:42,719 --> 00:37:47,000
Speaker 1: nobody wanted to respond. Even people in the media relations

837
00:37:47,000 --> 00:37:49,040
Speaker 1: department of some of these big companies they were just

838
00:37:49,120 --> 00:37:51,719
Speaker 1: kind of like, eh, we don't have time for you,

839
00:37:51,800 --> 00:37:53,840
Speaker 1: which is just a bummer, Like I've run into that before.

840
00:37:54,160 --> 00:37:57,640
Speaker 1: But it's these companies, it's amazing they don't care about

841
00:37:57,760 --> 00:38:01,440
Speaker 1: spinning out responses for consumers or even for people like

842
00:38:01,520 --> 00:38:04,360
Speaker 1: us who reach a lot of their customers. And so

843
00:38:04,680 --> 00:38:07,160
Speaker 1: MasterCard in particular, what in the world is going on

844
00:38:07,200 --> 00:38:09,279
Speaker 1: with you? Guys like I reached out to multiple people

845
00:38:09,280 --> 00:38:11,960
Speaker 1: in multiple different divisions, left messages with a bunch of

846
00:38:11,960 --> 00:38:15,239
Speaker 1: pr folks, and nobody contacted me back. So I've had

847
00:38:15,280 --> 00:38:18,320
Speaker 1: that happen in my radio days to Matt with these companies,

848
00:38:18,360 --> 00:38:20,480
Speaker 1: they just they think they're too big to respond to

849
00:38:20,920 --> 00:38:23,879
Speaker 1: consumer questions and complaints and they need to do better.

850
00:38:24,480 --> 00:38:27,279
Speaker 1: So but I will say, we finally finally did get

851
00:38:27,280 --> 00:38:29,840
Speaker 1: an answer from somebody, So we we'll get to that

852
00:38:29,840 --> 00:38:31,960
Speaker 1: in just a second. But just it's important to continue

853
00:38:32,000 --> 00:38:34,759
Speaker 1: to push back. I'm amazed that Karinn when as hard

854
00:38:34,760 --> 00:38:37,399
Speaker 1: as she did, but I'm glad she reached out to us. Yeah.

855
00:38:37,480 --> 00:38:40,760
Speaker 2: Yeah, it's it's also important to know that the fine

856
00:38:40,880 --> 00:38:44,759
Speaker 2: print that it can often change the perceived value of

857
00:38:44,840 --> 00:38:46,560
Speaker 2: in this case a credit card. So for instance, we

858
00:38:46,680 --> 00:38:48,720
Speaker 2: you know, we've talked about the Amex Blue Cash Preferred

859
00:38:49,080 --> 00:38:51,920
Speaker 2: giving you six percent back on groceries, right, Like, that's

860
00:38:51,920 --> 00:38:54,440
Speaker 2: one of the benefits, it's one of the superpowers of

861
00:38:54,440 --> 00:38:58,240
Speaker 2: that card. It's awesome, But you got to pay attention

862
00:38:58,320 --> 00:39:00,319
Speaker 2: to the fine prints some of the of the these

863
00:39:00,360 --> 00:39:03,000
Speaker 2: different benefits that these cards offer, because if you buy groceries,

864
00:39:03,080 --> 00:39:05,719
Speaker 2: let's say at Target or Walmart, well, you're not getting

865
00:39:05,760 --> 00:39:09,120
Speaker 2: six percent back because of the way specifically that Amex

866
00:39:09,360 --> 00:39:10,440
Speaker 2: codes those stores.

867
00:39:10,480 --> 00:39:12,000
Speaker 1: Just because you walked out of that store with milk

868
00:39:12,000 --> 00:39:14,120
Speaker 1: and apples does not mean you're getting six percent back. Yeah.

869
00:39:14,160 --> 00:39:16,480
Speaker 2: The same is true if if you fill up your car,

870
00:39:16,800 --> 00:39:20,080
Speaker 2: like say at Kroger with the Costco Visa card, it's

871
00:39:20,120 --> 00:39:24,360
Speaker 2: considered like a supermarket. It doesn't code as a gas station.

872
00:39:24,960 --> 00:39:28,000
Speaker 2: So we love that that card offers four percent back

873
00:39:28,040 --> 00:39:30,760
Speaker 2: on gas, but that doesn't apply to supermarket gas stations.

874
00:39:30,760 --> 00:39:33,040
Speaker 2: So it's helpful just to be aware of the fine

875
00:39:33,040 --> 00:39:36,440
Speaker 2: print and some of these idiosyncrasies so that you can

876
00:39:36,440 --> 00:39:38,440
Speaker 2: make sure that you're using the right card at the

877
00:39:38,480 --> 00:39:40,040
Speaker 2: right place, so that you're not giving up some of

878
00:39:40,080 --> 00:39:44,040
Speaker 2: these different benefits that these cards tout and that they

879
00:39:44,040 --> 00:39:46,120
Speaker 2: advertise and that we even talk about because we want

880
00:39:46,160 --> 00:39:49,160
Speaker 2: folks to take advantage of every benefit that's offered to them.

881
00:39:49,360 --> 00:39:52,279
Speaker 2: Let's just make sure that we aren't whipping like at

882
00:39:52,280 --> 00:39:54,120
Speaker 2: the very last second, because we happen to use.

883
00:39:54,040 --> 00:39:56,080
Speaker 1: The wrong card at the wrong place, thinking we're getting

884
00:39:56,120 --> 00:39:57,960
Speaker 1: the benefit when we're actually not. And that's a really

885
00:39:58,000 --> 00:39:59,680
Speaker 1: good point to mentu Mat. It's something that comes up

886
00:39:59,719 --> 00:40:01,640
Speaker 1: sometimes and the how to Money Facebook group, people like

887
00:40:01,680 --> 00:40:03,960
Speaker 1: how does this store code? Do you know? Because I

888
00:40:03,960 --> 00:40:05,680
Speaker 1: want to make sure that I'm using the right card

889
00:40:05,680 --> 00:40:07,480
Speaker 1: in the right place, And it's important to know that

890
00:40:07,560 --> 00:40:09,400
Speaker 1: some of these things where you think you're getting the

891
00:40:09,400 --> 00:40:12,560
Speaker 1: bigger benefit, you might not be. But let's get onto

892
00:40:12,719 --> 00:40:17,120
Speaker 1: the current specific question, Matt, And for everybody out there

893
00:40:17,160 --> 00:40:19,000
Speaker 1: who listens to us, there's a lot of mint Mobile

894
00:40:19,080 --> 00:40:21,719
Speaker 1: users rightly. So the price is insane, it's so good

895
00:40:22,000 --> 00:40:23,960
Speaker 1: and the customer service is great. We've talked about mint

896
00:40:23,960 --> 00:40:26,960
Speaker 1: Mobile for years. That's who we use. But are you

897
00:40:27,000 --> 00:40:29,239
Speaker 1: covered I've been using for like this is coming up

898
00:40:29,360 --> 00:40:30,880
Speaker 1: like our fourth year now, I think, I think so.

899
00:40:31,400 --> 00:40:32,799
Speaker 1: That's how much we love them. Yeah, And they only

900
00:40:32,840 --> 00:40:35,720
Speaker 1: get better. Like even after that they were recently partially

901
00:40:35,719 --> 00:40:38,200
Speaker 1: purchased or fully purchased by T Mobile, the amount of

902
00:40:38,239 --> 00:40:41,680
Speaker 1: data they gave to their users skyrocketed and they didn't

903
00:40:41,719 --> 00:40:44,600
Speaker 1: increase the price at all. So far, so far, so good.

904
00:40:44,760 --> 00:40:47,440
Speaker 1: We won't be afraid to talk smack if that changes.

905
00:40:47,560 --> 00:40:49,400
Speaker 1: But when they crap the bed, yeah, But this was

906
00:40:49,480 --> 00:40:51,680
Speaker 1: enlightening for us too as Mint Mobile users, cause I

907
00:40:51,680 --> 00:40:53,920
Speaker 1: thought we were covered, but I wasn't sure, and Karinn

908
00:40:53,960 --> 00:40:55,839
Speaker 1: got us to go all the way to check out,

909
00:40:55,840 --> 00:40:58,960
Speaker 1: and so even though MasterCard ghosted us, we talked to

910
00:40:59,360 --> 00:41:01,600
Speaker 1: the good folks over at Built, which is our favorite

911
00:41:01,640 --> 00:41:04,319
Speaker 1: credit card for renters b ilt and by the way,

912
00:41:04,320 --> 00:41:06,200
Speaker 1: we'll put a link to the Built review in the

913
00:41:06,239 --> 00:41:08,920
Speaker 1: show notes. If you're a renter, the only way you

914
00:41:08,960 --> 00:41:12,560
Speaker 1: can get perks for paying a rent with a credit card.

915
00:41:12,719 --> 00:41:14,520
Speaker 1: But here's what Sean over there told me. He said,

916
00:41:14,600 --> 00:41:17,279
Speaker 1: and I quote, I'm happy to confirm this scenario would

917
00:41:17,320 --> 00:41:19,760
Speaker 1: be covered if the wireless plan is not a monthly

918
00:41:19,800 --> 00:41:24,040
Speaker 1: build plan. We'd need the user to provide documentation verifying

919
00:41:24,080 --> 00:41:26,240
Speaker 1: the type of payment plan they have with the wireless

920
00:41:26,280 --> 00:41:28,759
Speaker 1: company and that the plan was paid for with the

921
00:41:28,760 --> 00:41:32,000
Speaker 1: built master card. The documentation must support the data loss

922
00:41:32,040 --> 00:41:34,920
Speaker 1: and last payment fall within the plan period. Assuming all

923
00:41:34,920 --> 00:41:38,239
Speaker 1: this occurs, it could be covered. So there you have it.

924
00:41:38,400 --> 00:41:41,640
Speaker 1: According to the folks over there, you would be covered

925
00:41:41,640 --> 00:41:44,120
Speaker 1: after jumping through some of some of those extra hoops.

926
00:41:44,120 --> 00:41:45,759
Speaker 1: But I'm guessing you'd have to submit some of that

927
00:41:45,800 --> 00:41:49,040
Speaker 1: documentation anyway with the claim. I've never actually had to

928
00:41:49,040 --> 00:41:51,759
Speaker 1: fill out one of these claims, but like we talked about,

929
00:41:51,840 --> 00:41:54,160
Speaker 1: that is one of those nice, nice perks. So you're

930
00:41:54,160 --> 00:41:57,080
Speaker 1: not having to fork out money every single month in

931
00:41:57,200 --> 00:42:00,480
Speaker 1: order to ensure your cell phone. Just paying with the

932
00:42:00,520 --> 00:42:02,960
Speaker 1: right credit card gives you that coverage. And yes, if

933
00:42:02,960 --> 00:42:05,319
Speaker 1: you're a Mint mobile customer, you can, and you pay

934
00:42:05,600 --> 00:42:07,480
Speaker 1: once a year or once a quarter to.

935
00:42:07,440 --> 00:42:09,799
Speaker 2: Get that sweet benefit. Yeah, you get that discount by

936
00:42:10,160 --> 00:42:13,240
Speaker 2: basically buying your minutes or not minutes here your data

937
00:42:13,360 --> 00:42:16,720
Speaker 2: in bulk. No one's buying minutes, you're unlimited minutes.

938
00:42:17,080 --> 00:42:20,000
Speaker 1: But by doing that in a quarterly or an annual thing,

939
00:42:20,000 --> 00:42:22,799
Speaker 1: getting the discount, you can still qualify for that perk

940
00:42:22,840 --> 00:42:24,120
Speaker 1: that these credit card companies offer.

941
00:42:24,239 --> 00:42:26,480
Speaker 2: Yeah, and of course you could avoid having to go

942
00:42:26,520 --> 00:42:29,239
Speaker 2: through this hassle all together by putting a case on

943
00:42:29,239 --> 00:42:29,799
Speaker 2: your cell phone.

944
00:42:29,800 --> 00:42:32,120
Speaker 1: That'll help you most of the time, not always, I guess, because.

945
00:42:32,840 --> 00:42:35,680
Speaker 2: Dude, between the ceramic shield now that apple and saws

946
00:42:35,760 --> 00:42:38,160
Speaker 2: on on the iPhones where you know that's screen is

947
00:42:38,280 --> 00:42:38,840
Speaker 2: rock solid.

948
00:42:38,840 --> 00:42:41,280
Speaker 1: Baby, Let's say you go to AA is it Pamplona

949
00:42:41,320 --> 00:42:42,400
Speaker 1: and you run with the bulls.

950
00:42:43,400 --> 00:42:45,160
Speaker 2: I mean your phone drops out of your pocket and

951
00:42:45,200 --> 00:42:47,279
Speaker 2: that rare case. Yeah, actually, I think it would even

952
00:42:47,280 --> 00:42:48,640
Speaker 2: stand up to that. You could like hold it up

953
00:42:48,680 --> 00:42:50,719
Speaker 2: in front of your face so that you don't get

954
00:42:51,280 --> 00:42:54,040
Speaker 2: Gordon in the eyeball.

955
00:42:54,080 --> 00:42:55,239
Speaker 1: The phone will save your life.

956
00:42:55,480 --> 00:42:58,439
Speaker 2: I will say I've not ever since the ceramic shield

957
00:42:58,480 --> 00:43:01,000
Speaker 2: specifically because it's like it's like a special glass that

958
00:43:01,040 --> 00:43:04,480
Speaker 2: they that they implemented. Yet another reason that I'm such

959
00:43:04,480 --> 00:43:07,240
Speaker 2: a big fan of the iPhone. Plus your wife, Emily,

960
00:43:07,280 --> 00:43:09,440
Speaker 2: she got to see the benefits of being able.

961
00:43:09,280 --> 00:43:11,759
Speaker 1: To because are all the droids are They are none

962
00:43:11,760 --> 00:43:13,799
Speaker 1: of them waterproof? No? I think they are? Oh are they?

963
00:43:13,840 --> 00:43:14,040
Speaker 4: Yeah?

964
00:43:14,080 --> 00:43:16,279
Speaker 1: I just think she didn't realize that, and so she's like, oh,

965
00:43:16,320 --> 00:43:17,480
Speaker 1: with this new phone, I can put it in the water,

966
00:43:17,520 --> 00:43:19,719
Speaker 1: and was just take a video underwater. You could put

967
00:43:19,719 --> 00:43:20,560
Speaker 1: the last one in there too.

968
00:43:20,600 --> 00:43:22,359
Speaker 2: We did that while we're while we were at the beach.

969
00:43:22,400 --> 00:43:25,120
Speaker 2: But even still, she was like, gotta, it still feels

970
00:43:25,120 --> 00:43:28,040
Speaker 2: weird to put electronics, Oh sure under underwater, feels counter

971
00:43:28,239 --> 00:43:30,960
Speaker 2: to what we've basically been trained to not do for

972
00:43:31,000 --> 00:43:34,600
Speaker 2: the past. How long have our lives fifteen years or something?

973
00:43:34,680 --> 00:43:36,680
Speaker 2: But the bottom line, you do you will have to

974
00:43:36,719 --> 00:43:39,440
Speaker 2: check with the specific card that you're planning to pay

975
00:43:39,880 --> 00:43:42,239
Speaker 2: for your phone with to make sure that that is

976
00:43:42,280 --> 00:43:44,200
Speaker 2: something that's that's covered. Yeah, because it's going.

977
00:43:44,160 --> 00:43:46,600
Speaker 1: To vary per card. You think MasterCard would have some

978
00:43:46,600 --> 00:43:48,799
Speaker 1: sort of blanket policy, but they they don't, and they

979
00:43:48,800 --> 00:43:50,520
Speaker 1: tell you to turn to the specific card to ask

980
00:43:50,600 --> 00:43:52,440
Speaker 1: it varies. So I reached out to the folks that

981
00:43:52,480 --> 00:43:55,960
Speaker 1: built but you might yeah it. It's annoying, but those

982
00:43:55,960 --> 00:43:57,359
Speaker 1: are the steps. If you want to make sure one

983
00:43:57,760 --> 00:43:59,800
Speaker 1: percent you're covered exactly, I would get it in writing

984
00:44:00,200 --> 00:44:03,120
Speaker 1: from the card issuer. But it's it's good to know

985
00:44:03,160 --> 00:44:05,319
Speaker 1: at least that with the built card you can go

986
00:44:05,360 --> 00:44:08,279
Speaker 1: through this process and you're aokay, that's right. All right.

987
00:44:08,320 --> 00:44:09,759
Speaker 2: Let's get to our last question, and this is from

988
00:44:09,760 --> 00:44:12,520
Speaker 2: a listener who is maybe considering buying a new house,

989
00:44:12,640 --> 00:44:15,280
Speaker 2: but he doesn't want to give up the sweet, sweet

990
00:44:15,480 --> 00:44:17,799
Speaker 2: low mortgage rate that he has. Let's see if we

991
00:44:17,840 --> 00:44:19,200
Speaker 2: have a solution for him.

992
00:44:19,600 --> 00:44:25,719
Speaker 7: Hi, this is Tom from Superior, Wisconsin. I am fortunate

993
00:44:25,760 --> 00:44:29,400
Speaker 7: to have a low interest mortgage two point three seventy

994
00:44:29,520 --> 00:44:34,800
Speaker 7: five percent and that's about three hundred and nineteen thousand

995
00:44:34,840 --> 00:44:38,480
Speaker 7: dollars balance on original three hundred and thirty six thousand

996
00:44:38,520 --> 00:44:43,160
Speaker 7: dollars loan. And it's been described as a problem since

997
00:44:43,200 --> 00:44:46,600
Speaker 7: you can't sell and get a new mortgage someplace else

998
00:44:46,760 --> 00:44:50,239
Speaker 7: anywhere close to that. And I don't like this. Oh,

999
00:44:50,320 --> 00:44:52,160
Speaker 7: you got a bad deal with a great mortgage. So

1000
00:44:52,160 --> 00:44:54,640
Speaker 7: I wonder if there's any options with a low interest

1001
00:44:54,680 --> 00:44:59,760
Speaker 7: mortgage and you want to move someplace else as having

1002
00:45:00,200 --> 00:45:04,279
Speaker 7: and assumable loan, is that valid option? And how would

1003
00:45:04,320 --> 00:45:06,400
Speaker 7: that work to make it benefit both me and the

1004
00:45:06,400 --> 00:45:08,200
Speaker 7: person that assumes my mortgage?

1005
00:45:08,800 --> 00:45:11,600
Speaker 1: Thank you very much, Matt. I feel like Tom right

1006
00:45:11,640 --> 00:45:14,000
Speaker 1: now is the envy of almost every Hot of Money

1007
00:45:14,000 --> 00:45:16,960
Speaker 1: listener and the end of the hosts as well, because

1008
00:45:17,120 --> 00:45:20,080
Speaker 1: two point three seven five dudes in the twos that's

1009
00:45:20,120 --> 00:45:22,680
Speaker 1: better than anything I've got. That's awesome. Yeah, it's almost

1010
00:45:22,680 --> 00:45:24,600
Speaker 1: like you're getting paid to have that mortgage. When it's

1011
00:45:25,120 --> 00:45:27,239
Speaker 1: a locked in rate that's that low, which is of

1012
00:45:27,280 --> 00:45:30,200
Speaker 1: course why there's no supply on the housing market right now.

1013
00:45:30,360 --> 00:45:32,200
Speaker 1: People are willing to stick with a house it's less

1014
00:45:32,239 --> 00:45:35,359
Speaker 1: than ideal because their rate is so stinking good. But

1015
00:45:35,400 --> 00:45:38,000
Speaker 1: that leaves folks like Tom in a tough spot.

1016
00:45:38,080 --> 00:45:38,160
Speaker 4: Right.

1017
00:45:38,200 --> 00:45:40,200
Speaker 1: It's kind of like golden handcuffs. That's what they call

1018
00:45:40,239 --> 00:45:43,000
Speaker 1: the pension. Right, you're building building years. You're eighteen years

1019
00:45:43,000 --> 00:45:44,759
Speaker 1: in and you can't leave your job because every single

1020
00:45:44,840 --> 00:45:46,600
Speaker 1: year that adds to the pension, and that's how you're

1021
00:45:46,640 --> 00:45:49,360
Speaker 1: going to retire. Well, this is similar. It's like golden handcuffs.

1022
00:45:49,360 --> 00:45:50,759
Speaker 1: You can't leave the house. Hope you like your house,

1023
00:45:50,760 --> 00:45:52,440
Speaker 1: because you wouldn't be there for the next twenty years. Right,

1024
00:45:52,440 --> 00:45:54,880
Speaker 1: because the mortgage rate is that good, he said, he's

1025
00:45:54,880 --> 00:45:57,120
Speaker 1: throw superior Wisconsin. It's like the most superior mortgage rate

1026
00:45:57,120 --> 00:45:59,800
Speaker 1: you can get. Well, because you know that not only

1027
00:46:00,239 --> 00:46:03,080
Speaker 1: moving me, that you're inevitably buying a more expensive house

1028
00:46:03,120 --> 00:46:05,919
Speaker 1: because of where housing prices have gone. But on top

1029
00:46:05,920 --> 00:46:08,239
Speaker 1: of that, you're going to be increasing your mortgage rate

1030
00:46:08,440 --> 00:46:11,080
Speaker 1: quite a bit, which makes it really a hard decision

1031
00:46:11,120 --> 00:46:13,480
Speaker 1: to make to uproot. But let's take a minute and

1032
00:46:13,520 --> 00:46:19,200
Speaker 1: describe what qualifies as an assumable mortgage. So FHA VA

1033
00:46:19,239 --> 00:46:22,759
Speaker 1: and USDA loans, these are the type of mortgages that

1034
00:46:23,120 --> 00:46:27,719
Speaker 1: could be assumable, meaning that rather than applying for a

1035
00:46:27,719 --> 00:46:30,279
Speaker 1: new mortgage at a much higher rate than which you

1036
00:46:30,320 --> 00:46:33,520
Speaker 1: have currently tom that you're able to essentially take over

1037
00:46:33,640 --> 00:46:37,680
Speaker 1: the existing loan that the seller currently has on the

1038
00:46:37,760 --> 00:46:40,520
Speaker 1: property that they're selling, and hopefully they've got something also

1039
00:46:40,800 --> 00:46:42,759
Speaker 1: in the twos, maybe the threes. I'd be fine. I'd

1040
00:46:42,760 --> 00:46:44,960
Speaker 1: be happy with that as well. But it's not an

1041
00:46:45,000 --> 00:46:49,080
Speaker 1: automatic decision though, because the lender, whoever holds that loan,

1042
00:46:49,160 --> 00:46:53,120
Speaker 1: they still have to approve you for that assumable mortgage.

1043
00:46:53,640 --> 00:46:55,839
Speaker 1: But if that's the case, you might have the chance

1044
00:46:55,880 --> 00:46:58,960
Speaker 1: to take over right or assume their loan with the

1045
00:46:58,960 --> 00:47:02,480
Speaker 1: same rate, the same terms everything. Basically everything that the

1046
00:47:02,520 --> 00:47:05,399
Speaker 1: current owner of the home signed up for you get

1047
00:47:05,400 --> 00:47:07,600
Speaker 1: to take over for him, which sounds so nice when

1048
00:47:07,640 --> 00:47:09,840
Speaker 1: you put it like that, Matt, But yeah, it's not

1049
00:47:09,920 --> 00:47:12,400
Speaker 1: as easy said as it is done right right. The

1050
00:47:12,440 --> 00:47:14,920
Speaker 1: trick is actually finding a property that you want to

1051
00:47:14,920 --> 00:47:17,840
Speaker 1: move to where the mortgage can actually be assumed, and

1052
00:47:17,880 --> 00:47:20,439
Speaker 1: then beyond that, your face with the difficulty of coming

1053
00:47:20,520 --> 00:47:22,919
Speaker 1: up with the difference if the purchase price is more

1054
00:47:22,960 --> 00:47:24,919
Speaker 1: than the balance on the loan, which would most likely

1055
00:47:24,920 --> 00:47:27,560
Speaker 1: be the case. So, for example, let's say that you're

1056
00:47:27,600 --> 00:47:30,200
Speaker 1: looking to buy a home in the it's like four

1057
00:47:30,239 --> 00:47:32,759
Speaker 1: hundred twenty five thousand dollars and the remaining balance on

1058
00:47:32,760 --> 00:47:35,160
Speaker 1: that loan is three twenty five. Well, that means you're

1059
00:47:35,160 --> 00:47:36,520
Speaker 1: going to have to come to the table with one

1060
00:47:36,560 --> 00:47:39,200
Speaker 1: hundred thousand dollars in order to make up for that difference,

1061
00:47:39,400 --> 00:47:41,800
Speaker 1: and if you can't, you're likely looking you're gonna have

1062
00:47:41,800 --> 00:47:43,880
Speaker 1: to apply for a second mortgage for the price difference,

1063
00:47:44,160 --> 00:47:47,080
Speaker 1: which would of course mean that you're borrowing at least

1064
00:47:47,360 --> 00:47:49,279
Speaker 1: some of the money for that house at a higher rate,

1065
00:47:49,560 --> 00:47:51,160
Speaker 1: which which you're trying to avoid in the first place.

1066
00:47:51,160 --> 00:47:54,399
Speaker 1: So these matching up people with an assumable mortgage who

1067
00:47:54,400 --> 00:47:56,480
Speaker 1: want that house and want to take over that mortgage

1068
00:47:56,640 --> 00:47:58,439
Speaker 1: is and then who also has the cash on hand

1069
00:47:58,520 --> 00:48:00,600
Speaker 1: to be able to make up the difference. Yeah, it's

1070
00:48:00,640 --> 00:48:02,400
Speaker 1: kind of like a needle in a haystack sort of scenario.

1071
00:48:02,480 --> 00:48:03,440
Speaker 1: Tricky endeavor.

1072
00:48:03,440 --> 00:48:05,840
Speaker 2: And then not to mention that a seller who has

1073
00:48:05,960 --> 00:48:09,200
Speaker 2: an assumable mortgage, they know that they've got essentially like

1074
00:48:09,200 --> 00:48:11,719
Speaker 2: this unicorn. Right, it's a house for sale with a

1075
00:48:11,719 --> 00:48:14,600
Speaker 2: super low interest rate, and guess what, so do other buyers.

1076
00:48:14,640 --> 00:48:17,040
Speaker 2: They know that this is a rare find as well,

1077
00:48:17,080 --> 00:48:18,919
Speaker 2: so that there's a pretty good chance that the lower

1078
00:48:19,000 --> 00:48:21,719
Speaker 2: rate would then drive up the asking price of the

1079
00:48:21,719 --> 00:48:25,160
Speaker 2: property for sale, even if you were planning to assume

1080
00:48:25,200 --> 00:48:27,960
Speaker 2: the mortgage. Right, whether or not you take advantage of it,

1081
00:48:27,960 --> 00:48:30,799
Speaker 2: it doesn't have an effect on the willingness of other

1082
00:48:30,840 --> 00:48:34,320
Speaker 2: buyers to pay more in order to reduce their monthly payment.

1083
00:48:34,440 --> 00:48:37,839
Speaker 2: So in effect, the market it kind of susses out

1084
00:48:37,920 --> 00:48:40,799
Speaker 2: some of these different advantages. It's I feel like this

1085
00:48:40,840 --> 00:48:45,240
Speaker 2: is evidence of like the efficient market hypothesis or whatever,

1086
00:48:45,280 --> 00:48:49,880
Speaker 2: that there are rarely inefficiencies and advantages that other people

1087
00:48:49,960 --> 00:48:52,400
Speaker 2: are able to see which would then have an impact

1088
00:48:52,400 --> 00:48:52,799
Speaker 2: on the price.

1089
00:48:52,840 --> 00:48:54,440
Speaker 1: And this happens more in the commercial space than it

1090
00:48:54,440 --> 00:48:56,120
Speaker 1: does in the personal space. Like, like I said, there's

1091
00:48:56,120 --> 00:48:58,200
Speaker 1: not really a mechanism to match people up who have

1092
00:48:58,239 --> 00:49:01,160
Speaker 1: the assumable mortgage and who want to buy this specific

1093
00:49:01,160 --> 00:49:03,600
Speaker 1: house with this mortgage rate taking all this into account,

1094
00:49:03,680 --> 00:49:05,440
Speaker 1: but it does happen more in the commercial space. When

1095
00:49:05,440 --> 00:49:08,239
Speaker 1: we're talking about someone buying an apartment complex, or a

1096
00:49:08,280 --> 00:49:12,000
Speaker 1: group of investors coming together to buy a bigger asset.

1097
00:49:12,920 --> 00:49:15,400
Speaker 1: How the debt is structured and taking on some of

1098
00:49:15,400 --> 00:49:18,160
Speaker 1: that debt, like transferring that debt, can have a big

1099
00:49:18,200 --> 00:49:20,880
Speaker 1: impact on how good of an investment it is. But

1100
00:49:20,920 --> 00:49:25,000
Speaker 1: it's just it's less normal. It doesn't really happen much

1101
00:49:25,040 --> 00:49:27,920
Speaker 1: in the personal space. And unfortunately this is just kind

1102
00:49:27,920 --> 00:49:29,480
Speaker 1: of where the housing market is at the moment right

1103
00:49:29,560 --> 00:49:31,680
Speaker 1: It's a bummer for a lot of buyers. It's a

1104
00:49:31,680 --> 00:49:34,120
Speaker 1: bummer for a lot of people who would like to sell,

1105
00:49:34,120 --> 00:49:36,680
Speaker 1: but they're just in too sitting too pretty right now

1106
00:49:37,080 --> 00:49:40,000
Speaker 1: because of the terms they have on their current mortgage

1107
00:49:40,040 --> 00:49:41,920
Speaker 1: that they're not willing to list their property for sale.

1108
00:49:41,960 --> 00:49:44,080
Speaker 1: They're not willing to move on down the street. But

1109
00:49:44,400 --> 00:49:47,320
Speaker 1: the alternatives are I'll just list a few. Really, to

1110
00:49:47,440 --> 00:49:49,719
Speaker 1: be happy with the golden handcuffs on your wrist, just

1111
00:49:49,760 --> 00:49:51,359
Speaker 1: be like, all right, this is what it is. I'm

1112
00:49:51,360 --> 00:49:53,719
Speaker 1: in a good spot. I can save more money and

1113
00:49:54,560 --> 00:49:56,400
Speaker 1: let me just be happy with that. Or it's to

1114
00:49:56,440 --> 00:49:58,239
Speaker 1: save up more money for that next home you're looking

1115
00:49:58,239 --> 00:50:00,600
Speaker 1: to buy. The other thing I gets you could wait,

1116
00:50:00,719 --> 00:50:02,799
Speaker 1: try to wait for rates to drop but we don't

1117
00:50:02,800 --> 00:50:04,600
Speaker 1: know when or if that will happen. And even if

1118
00:50:04,600 --> 00:50:07,000
Speaker 1: that does happen, housing prices are likely to go up

1119
00:50:07,040 --> 00:50:10,080
Speaker 1: even faster as rates go down in tandem. Yeah, because

1120
00:50:10,120 --> 00:50:13,279
Speaker 1: you know, financing as it becomes less expensive, then I

1121
00:50:13,280 --> 00:50:17,000
Speaker 1: think the prices for those homes is likely going to

1122
00:50:17,280 --> 00:50:22,640
Speaker 1: go up simultaneously. I don't necessarily necessarily see affordability homes

1123
00:50:22,680 --> 00:50:25,560
Speaker 1: becoming a lot more affordable in the near future.

1124
00:50:25,640 --> 00:50:28,480
Speaker 2: Yeah, And of course, if you went ahead and bought anyway,

1125
00:50:28,760 --> 00:50:31,600
Speaker 2: you always have the chance to possibly refine. So not

1126
00:50:31,680 --> 00:50:33,840
Speaker 2: waiting until rates drop, but go ahead and bind the

1127
00:50:33,840 --> 00:50:36,600
Speaker 2: property if you find the dream property, the dream house.

1128
00:50:37,239 --> 00:50:38,680
Speaker 2: But you still need to be able to afford it, right,

1129
00:50:38,680 --> 00:50:40,680
Speaker 2: because you don't want to make that decision assuming that

1130
00:50:40,760 --> 00:50:43,000
Speaker 2: rates will drop. You need to be able to afford

1131
00:50:43,040 --> 00:50:44,360
Speaker 2: it in the meantime easily.

1132
00:50:44,440 --> 00:50:46,200
Speaker 1: And so yeah, if you've got the cash, it's like, boom,

1133
00:50:46,280 --> 00:50:48,759
Speaker 1: let me upgrade, even though I know I'm giving up

1134
00:50:49,000 --> 00:50:51,040
Speaker 1: kind of a bird in the hand, but it might

1135
00:50:51,040 --> 00:50:52,600
Speaker 1: be worth it if you have other goals. Yeah. Well,

1136
00:50:52,600 --> 00:50:53,799
Speaker 1: that's the thing. That's what I was going to say,

1137
00:50:53,840 --> 00:50:56,080
Speaker 1: is that you've you need to be willing to make

1138
00:50:56,120 --> 00:50:59,480
Speaker 1: a purchase without the rate driving that decision, it's not

1139
00:50:59,600 --> 00:51:01,120
Speaker 1: as less at this point, it's going to be less

1140
00:51:01,120 --> 00:51:03,120
Speaker 1: about the money can because no matter what, you're going

1141
00:51:03,160 --> 00:51:05,719
Speaker 1: to be giving up something great. And it just goes

1142
00:51:05,760 --> 00:51:07,680
Speaker 1: to show that there are times when people move and

1143
00:51:07,719 --> 00:51:11,200
Speaker 1: make life, big financial life decisions like this for life reasons,

1144
00:51:11,239 --> 00:51:14,600
Speaker 1: not necessarily just because the market's really great right now.

1145
00:51:14,920 --> 00:51:17,279
Speaker 1: Like while it would be awesome to optimize in that

1146
00:51:17,280 --> 00:51:20,080
Speaker 1: way and to get a killer deal at a crazy

1147
00:51:20,120 --> 00:51:22,200
Speaker 1: low rate, that's sort of what we know, what we

1148
00:51:22,200 --> 00:51:24,480
Speaker 1: saw ten years ago, that's not the environment that we're

1149
00:51:24,480 --> 00:51:26,600
Speaker 1: currently in. So you kind of have to weigh some

1150
00:51:26,680 --> 00:51:29,600
Speaker 1: of those personal factors, some of those life decisions with

1151
00:51:30,280 --> 00:51:33,239
Speaker 1: the cost that you're not only able to pay, but

1152
00:51:33,320 --> 00:51:35,759
Speaker 1: willing to pay knowing that jury Like that's I think

1153
00:51:35,760 --> 00:51:39,000
Speaker 1: that's the hardest part is mentally letting that two point

1154
00:51:39,080 --> 00:51:42,520
Speaker 1: three seven whatever, mentally letting that go. I think it

1155
00:51:42,600 --> 00:51:44,080
Speaker 1: is going to be the hardest part. One thought I have,

1156
00:51:44,200 --> 00:51:46,000
Speaker 1: by the way that I talked to tell people sometimes

1157
00:51:46,000 --> 00:51:48,200
Speaker 1: who ask a questions about is, hey, you've got this

1158
00:51:48,280 --> 00:51:50,680
Speaker 1: low mortgage rate, does this house work as a rental property?

1159
00:51:50,719 --> 00:51:52,560
Speaker 1: Like would it make sense for you and then maybe

1160
00:51:52,560 --> 00:51:56,439
Speaker 1: that that feels helps to offset it a little bit. Yeah, exactly. Really,

1161
00:51:56,480 --> 00:51:58,920
Speaker 1: I'm still keep holding on to this awesome locked in

1162
00:51:58,920 --> 00:52:01,000
Speaker 1: thirty year mortgage as long as the numbers work and

1163
00:52:01,000 --> 00:52:02,799
Speaker 1: it makes sense, and I'm actually kind of interested in

1164
00:52:02,800 --> 00:52:05,360
Speaker 1: becoming a landlord, and this property makes sense as a

1165
00:52:05,360 --> 00:52:08,239
Speaker 1: as a rental property in my portfolio, then hey, that

1166
00:52:08,280 --> 00:52:11,000
Speaker 1: could be another tact worth worth looking at it. And

1167
00:52:11,160 --> 00:52:13,359
Speaker 1: then all the first time home buyers are out there saying, no,

1168
00:52:13,560 --> 00:52:15,520
Speaker 1: don't hang on to it, sell it to me. Although

1169
00:52:15,520 --> 00:52:17,839
Speaker 1: it helps with the rents right that we've been seeing

1170
00:52:17,920 --> 00:52:20,319
Speaker 1: escalated as well, more rental properties on the market will

1171
00:52:20,360 --> 00:52:23,520
Speaker 1: help lower rents. And yeah, it's it's it's at least

1172
00:52:23,520 --> 00:52:24,439
Speaker 1: worth considering. Sure.

1173
00:52:24,600 --> 00:52:27,239
Speaker 2: Yeah, but yeah, Tom, hopefully that gets you pointed in

1174
00:52:27,520 --> 00:52:30,280
Speaker 2: the right direction. Plus, it's fun to talk about assumable

1175
00:52:30,280 --> 00:52:32,080
Speaker 2: mortgages because that's not something we've discussed.

1176
00:52:32,640 --> 00:52:34,040
Speaker 1: But all right, let's get back to.

1177
00:52:34,040 --> 00:52:36,759
Speaker 2: The beer that we enjoyed again. We don't know what

1178
00:52:36,840 --> 00:52:39,120
Speaker 2: this one is called, but we'll just call it the

1179
00:52:39,160 --> 00:52:41,680
Speaker 2: red one. This is the one that's in the red can.

1180
00:52:42,040 --> 00:52:44,800
Speaker 2: From best I could tell, I'm gett maybe this was

1181
00:52:44,840 --> 00:52:45,320
Speaker 2: a logger.

1182
00:52:46,239 --> 00:52:47,799
Speaker 1: What are your thoughts. That's what I'm guessing too. Yeah,

1183
00:52:47,880 --> 00:52:49,680
Speaker 1: there is one in their labeled IPA. The other one

1184
00:52:49,680 --> 00:52:51,960
Speaker 1: doesn't have any label either, so okay, it just says beer. Yeah,

1185
00:52:52,000 --> 00:52:53,680
Speaker 1: so I'm curious to try the IPA. But this one,

1186
00:52:53,680 --> 00:52:55,799
Speaker 1: I'm gonna say, Yeah, it tastes like a logger to me,

1187
00:52:56,200 --> 00:53:00,160
Speaker 1: and it tastes good. It was clean and sweetness going on.

1188
00:53:00,280 --> 00:53:01,040
Speaker 1: Yeah like it.

1189
00:53:01,280 --> 00:53:02,960
Speaker 2: I don't know if it's just because the label, but

1190
00:53:03,040 --> 00:53:06,200
Speaker 2: it made me think maybe there's some sort of juice

1191
00:53:06,280 --> 00:53:06,880
Speaker 2: or something in here.

1192
00:53:06,960 --> 00:53:07,799
Speaker 1: Yeah, I don't.

1193
00:53:07,840 --> 00:53:10,600
Speaker 2: I think it's just the label playing tricks on my way.

1194
00:53:10,920 --> 00:53:14,120
Speaker 2: But yeah, it had a multi sweetness, certainly didn't have

1195
00:53:14,239 --> 00:53:16,839
Speaker 2: kind of like a hoppy bitterness going on.

1196
00:53:16,880 --> 00:53:19,160
Speaker 1: Well, I wonder if it was brewed with rice, like

1197
00:53:19,280 --> 00:53:22,640
Speaker 1: sometimes a lot of them that's discriminatory, you racist, No,

1198
00:53:22,760 --> 00:53:24,960
Speaker 1: it's just like truly some of those beers like there's

1199
00:53:25,000 --> 00:53:28,120
Speaker 1: rice laggers. Yeah, yeah, and they're delicious, they're they're unique,

1200
00:53:28,120 --> 00:53:30,680
Speaker 1: they taste different than other loggers you might drink. And

1201
00:53:30,719 --> 00:53:32,640
Speaker 1: so this one might have been brewed with rice.

1202
00:53:32,680 --> 00:53:33,040
Speaker 4: I don't know.

1203
00:53:33,080 --> 00:53:35,279
Speaker 1: I can't read the label at all, have no way

1204
00:53:35,320 --> 00:53:37,799
Speaker 1: of telling. Maybe I liked it as it do you

1205
00:53:37,800 --> 00:53:41,120
Speaker 1: have like the Google Translate app? Maybe afterwards well, oh yeah,

1206
00:53:41,160 --> 00:53:42,800
Speaker 1: we should pull it up take a gander.

1207
00:53:42,880 --> 00:53:45,680
Speaker 2: Yeah, but either way, Julia, thank you so much for

1208
00:53:45,680 --> 00:53:47,799
Speaker 2: for sending this one plus the two others that we're

1209
00:53:47,800 --> 00:53:50,680
Speaker 2: gonna enjoy here on the show soon enough our way.

1210
00:53:50,840 --> 00:53:52,560
Speaker 1: Yeah, we appreciate it, all right. That's going to do

1211
00:53:52,600 --> 00:53:54,759
Speaker 1: it for this episode. Again. If you have a money

1212
00:53:54,800 --> 00:53:56,560
Speaker 1: question you want Matt and I how to tackle, we'd

1213
00:53:56,560 --> 00:53:57,799
Speaker 1: love to hear it. Go to how to Money dot

1214
00:53:57,840 --> 00:54:00,480
Speaker 1: com slash ask and submit a voice mamad. We'll take

1215
00:54:00,520 --> 00:54:04,160
Speaker 1: it hopefully on the show soon. That's all right, Matt.

1216
00:54:04,239 --> 00:54:06,719
Speaker 1: Let's wrap this up, do it all right? So if

1217
00:54:06,719 --> 00:54:08,320
Speaker 1: you want show notes, you can find those up on

1218
00:54:08,320 --> 00:54:10,400
Speaker 1: our website and how to Money as well. And that

1219
00:54:10,480 --> 00:54:12,600
Speaker 1: credit card til you mentioned earlier, it's a great place

1220
00:54:12,640 --> 00:54:15,120
Speaker 1: to start if you're looking. It's up there, the right

1221
00:54:15,160 --> 00:54:17,239
Speaker 1: credit card with the best sign up perks and the

1222
00:54:17,280 --> 00:54:20,000
Speaker 1: best ongoing benefits, so you can start building up those points,

1223
00:54:20,080 --> 00:54:22,239
Speaker 1: start taking free trips. But that's going to do it

1224
00:54:22,280 --> 00:54:25,319
Speaker 1: for today's episode, Matt. Until next time, Best Friends Out,

1225
00:54:25,480 --> 00:54:26,800
Speaker 1: Best Friends Out.