WEBVTT - BA Q&A: I Spent My Emergency Fund..Now What? 0:00:06.320 --> 0:00:09.920 It's time for the Big a q a A the 0:00:10.000 --> 0:00:11.840 Big a q A. What's your second? 0:00:12.000 --> 0:00:14.520 The Big a q eight with Manda, The b a 0:00:14.880 --> 0:00:19.560 q eight with the b a q a A. Hey, 0:00:19.920 --> 0:00:22.400 it's time for b a q A. You have questions, 0:00:22.600 --> 0:00:25.520 We have some answers. Although we're not your attorney, your 0:00:25.560 --> 0:00:29.520 financial advisor, your mama, but we are two smart brown 0:00:29.600 --> 0:00:31.640 girls who know a thing or do about money, career, 0:00:31.720 --> 0:00:33.040 in business, and finance. 0:00:34.400 --> 0:00:38.120 So ask away, how do we do this again? It's 0:00:38.120 --> 0:00:38.600 been in minutes? 0:00:38.640 --> 0:00:40.640 Oh god, first round, I totally forgot. We forgot to 0:00:40.680 --> 0:00:41.479 pick our questions. 0:00:42.800 --> 0:00:46.479 Yeah, we don't have Yeah, we need to pick our questions. 0:00:47.640 --> 0:00:50.519 Were off scheduled for two weeks and we're like, wait, 0:00:50.560 --> 0:00:51.760 what to tell you? 0:00:53.360 --> 0:00:56.800 Oh Lord? What should we do money? We could do money, Yeah, 0:00:56.800 --> 0:00:57.400 we can do money. 0:00:57.400 --> 0:00:59.200 We haven't done money in a while. Money in the bank? 0:00:59.240 --> 0:01:01.000 Should you what you think? First of all, can I 0:01:01.000 --> 0:01:02.920 give you a little update, Mandra, Yes? 0:01:03.240 --> 0:01:04.000 Is this for the show? 0:01:04.480 --> 0:01:07.000 Yeah? Yeah, baha update. So you know how like we 0:01:07.000 --> 0:01:08.399 talked about I think it was b a key way. 0:01:08.400 --> 0:01:10.160 I think it was when we talked about my friend 0:01:10.200 --> 0:01:12.480 whose grandma got the you know, sold the house for 0:01:12.520 --> 0:01:14.280 like one point two million and got the money. 0:01:15.000 --> 0:01:15.919 My friend listen. 0:01:18.760 --> 0:01:22.520 They were, oh, no, the friend that you were like, 0:01:22.520 --> 0:01:23.800 I don't think they listened, So let me talk some 0:01:24.000 --> 0:01:25.160 about that friend. 0:01:25.760 --> 0:01:28.120 Yes, but honestly they were there, like they were like, 0:01:28.280 --> 0:01:31.520 thank you for keeping me anonymous, and honestly like it was. 0:01:31.760 --> 0:01:33.000 It was really great. You know, they were good suport 0:01:33.000 --> 0:01:33.240 about it. 0:01:33.280 --> 0:01:35.080 Causemember, I was like, Granny be no one because Granny 0:01:35.200 --> 0:01:36.800 was like, how are you going manage world and you 0:01:36.800 --> 0:01:40.560 ain't got no money? Yeah, and no, they were like, honestly, 0:01:40.560 --> 0:01:42.959 like Tiffany was hilarious but funny but also really good advice. 0:01:43.000 --> 0:01:43.679 Thank you so much. 0:01:44.600 --> 0:01:44.800 Yeah. 0:01:45.040 --> 0:01:46.560 So yeah, because you obviously I'm not going to talk 0:01:46.560 --> 0:01:48.200 some mess about my friend, but I did. 0:01:48.040 --> 0:01:50.520 Say that, like, you know, Granny's not wrong that she 0:01:50.640 --> 0:01:52.800 ought to take her time and she ought to really 0:01:52.880 --> 0:01:55.040 lean into financial experts, that this is what they do 0:01:55.120 --> 0:01:58.560 managing wealth, and that not that she's rude not listening 0:01:58.600 --> 0:02:01.520 to her grandkids, but that you know, but it's okay 0:02:01.600 --> 0:02:05.200 to give your input. But she's not wrong for saying, hey, 0:02:05.440 --> 0:02:07.280 you know, let me work with the experts on this 0:02:07.280 --> 0:02:08.799 because it's a lot of money. So yeah, I just 0:02:08.840 --> 0:02:10.440 thought that was hilarious because when I got the text, 0:02:10.440 --> 0:02:10.919 I was like. 0:02:11.720 --> 0:02:16.320 Grow, what did I say? 0:02:17.000 --> 0:02:19.720 So that was a nice little all right, we're gonna 0:02:19.760 --> 0:02:22.080 do some money questions this week. We have not forgot 0:02:22.120 --> 0:02:25.320 about you. You guys really enjoyed the hot seat or whatever, 0:02:26.320 --> 0:02:29.720 so joy hopefully. I don't know if the next one 0:02:29.840 --> 0:02:32.280 next BAQA will be when we have someone in the 0:02:32.280 --> 0:02:34.520 hot seat. That's when someone outside of Mandy and myself 0:02:34.520 --> 0:02:36.480 will be in the studio. They get to ask us 0:02:36.560 --> 0:02:39.960 both questions. If you haven't listened already, the last BAQA, 0:02:41.120 --> 0:02:42.960 I was in the hot seat, Mandy asked me question 0:02:43.080 --> 0:02:45.600 and the questions, and the one before that, Mandy was 0:02:45.600 --> 0:02:47.960 in the hot seat and we asked her question. So 0:02:48.000 --> 0:02:50.320 we like these hot seat episodes that will pepper in 0:02:50.360 --> 0:02:53.120 to our normal BAQA. But for now we're hitting up, 0:02:53.160 --> 0:02:57.080 shaking up the mail bag, and we have a message 0:02:57.080 --> 0:02:59.880 from someone who calls herself Susie Carr. 0:03:00.200 --> 0:03:03.720 I go name that show. I'll give you two seconds 0:03:04.160 --> 0:03:11.919 regress classic. So Susie says, hello. 0:03:11.800 --> 0:03:15.359 I have a question for the QA you always are 0:03:15.400 --> 0:03:18.360 saying right now because of the recession, Save Save Save, 0:03:18.919 --> 0:03:22.960 I'm a single homeowner in a rather affordable city, and 0:03:23.560 --> 0:03:27.840 am going doing pretty well financially, having about ten thousand 0:03:27.960 --> 0:03:30.960 in savings, that is until I had roof issues child 0:03:32.040 --> 0:03:34.800 that basically wiped out my savings. I have barely any 0:03:34.840 --> 0:03:37.080 debt outside of my home and car and have no 0:03:37.160 --> 0:03:40.000 issues making those payments on time. I have money automatically 0:03:40.040 --> 0:03:41.600 going to a four to one k and none of 0:03:41.640 --> 0:03:43.920 that is changing as long as I still have my job. 0:03:44.200 --> 0:03:46.880 So technically I'm not struggling, but I can't help but 0:03:46.960 --> 0:03:50.880 feel anxiety not having my savings anymore, as it took 0:03:50.960 --> 0:03:53.640 quite some time to get that much saved. I guess 0:03:53.680 --> 0:03:55.440 my question is what is your advice for when an 0:03:55.480 --> 0:03:56.720 emergency actually comes. 0:03:56.560 --> 0:03:58.680 Your way and you have to use your emergency fund? 0:03:59.080 --> 0:04:04.160 Thank you and love your show, Susan. So what device 0:04:04.240 --> 0:04:05.320 we have for the suit? 0:04:06.800 --> 0:04:07.000 Well? 0:04:07.040 --> 0:04:10.280 As I think we're both homeowners and I have had, 0:04:10.640 --> 0:04:13.480 what was the thing that we did? I'm trying to 0:04:13.480 --> 0:04:15.080 think what we financed? 0:04:15.360 --> 0:04:15.520 Well. 0:04:15.560 --> 0:04:17.480 The thing about being a homeowner, I would say, and 0:04:17.760 --> 0:04:20.760 having cash in the bank is depending on your level 0:04:21.120 --> 0:04:24.120 of like tolerance and where you're at in your headspace 0:04:24.120 --> 0:04:27.960 when it comes to debt. If you have a secure 0:04:28.040 --> 0:04:31.240 financial position, like you are employed, you've got savings in 0:04:31.279 --> 0:04:34.840 the bank. If you're you know, if you don't want 0:04:34.880 --> 0:04:36.919 to part with your cash savings and you want to 0:04:36.920 --> 0:04:40.279 remain liquid, like have that. When you're a homeowner, you know, 0:04:40.320 --> 0:04:42.680 you could look into something like a low cost home 0:04:42.720 --> 0:04:47.560 equity loan. You could also some a lot of home improvement. 0:04:48.200 --> 0:04:49.640 Like I don't know what am I trying to say. 0:04:49.680 --> 0:04:53.800 Contractors they offer zero percent financing for repairs. You have 0:04:53.839 --> 0:04:56.400 to go through their system, and I mean these zero 0:04:56.400 --> 0:04:58.599 percent finance, Oh, this is what we did it for. 0:04:58.640 --> 0:05:01.560 We did zero percent financing for HVAC because they offered it. 0:05:01.920 --> 0:05:03.479 And yeah, we could have come out of pocket and 0:05:03.480 --> 0:05:05.720 paid the I forget how much it costs, like twenty K, 0:05:06.320 --> 0:05:08.839 but for us, we were like, let's save that cash 0:05:08.880 --> 0:05:11.440 for other reserves because we were renovating, and let's take 0:05:11.440 --> 0:05:14.440 advantage of our great credit and have a zero percent option. 0:05:14.920 --> 0:05:16.479 The thing is, you really want to read the fine 0:05:16.520 --> 0:05:19.960 print because typically they have that classic deferred interest clause, 0:05:20.520 --> 0:05:24.159 which basically means if you do not pay off the 0:05:24.200 --> 0:05:28.600 debt before that intro period is over, that they could 0:05:28.720 --> 0:05:31.080 pretend like you had been paying interest the whole time 0:05:31.160 --> 0:05:34.920 and tack that onto their balance. So yeah, it can 0:05:35.040 --> 0:05:37.560 really sting, But that's an option. But again, it really 0:05:37.560 --> 0:05:39.920 depends on like Tif was saying in the last episode, 0:05:40.560 --> 0:05:43.960 are you able to pay your bills in fuld, Like, 0:05:44.000 --> 0:05:48.080 do you have money coming in regularly where you feel 0:05:48.080 --> 0:05:50.040 like you can take on some debt. If the answer 0:05:50.120 --> 0:05:53.000 is no, then I kind of feel like that's what 0:05:53.040 --> 0:05:55.159 the emergency fund is for. So don't feel bad about 0:05:55.240 --> 0:05:55.640 using it. 0:05:55.839 --> 0:05:57.920 Yeah, I know it's hard because I love those options 0:05:57.920 --> 0:06:01.160 that Mandy gave that. Yes, sometimes, you know, having cash 0:06:01.200 --> 0:06:03.279 on hand, especially with what's happening, you know, in the 0:06:03.320 --> 0:06:05.320 economy right now, and I don't know if you looked 0:06:05.320 --> 0:06:07.480 at the market the other day, literally. 0:06:08.800 --> 0:06:12.400 Down down d d dun, dun dun, it's looking crazy. 0:06:13.240 --> 0:06:15.359 So with that being said, at you know, Mandy's suggestion 0:06:15.440 --> 0:06:17.920 about just so you know moving forward, is things like 0:06:17.920 --> 0:06:20.479 this happen again and you have great credit for anyone listening, 0:06:20.800 --> 0:06:24.320 you know, is there a interest free way to handle it? 0:06:24.360 --> 0:06:26.360 With that caveat of you better have that money at 0:06:26.360 --> 0:06:28.720 the end because the people don't want the coin or 0:06:28.760 --> 0:06:32.960 they're going to tack on that that interest rate, right, So, 0:06:34.000 --> 0:06:38.560 but ultimately, Susie, you know, your emergency fund is for emergencies. 0:06:38.680 --> 0:06:40.880 But I mean, if you've listened to Mandy and that 0:06:40.920 --> 0:06:42.560 for a while, you know, both of us feel very 0:06:43.800 --> 0:06:47.080 queasy about not having savings, and so I can understand 0:06:48.240 --> 0:06:52.120 that feeling. And so the only two ways to like 0:06:52.279 --> 0:06:54.800 get more money is to spend less or make more, 0:06:55.360 --> 0:06:58.039 you know, So it might this might be the push 0:06:58.080 --> 0:07:01.839 you need to do what Mandy's always which is girl, well, 0:07:01.880 --> 0:07:03.520 the lot of time you got to raise at work 0:07:05.040 --> 0:07:06.440 one of a lot of time you had that combo 0:07:06.520 --> 0:07:09.360 about like, because it's still the job market still leans 0:07:09.360 --> 0:07:09.920 in your favor. 0:07:10.240 --> 0:07:10.400 You know. 0:07:10.440 --> 0:07:12.360 I don't know what industry you're in, but in general, 0:07:12.680 --> 0:07:15.840 the job market is leaning in favor for you know, 0:07:15.880 --> 0:07:18.440 for the worker. And so it's like, can I make 0:07:18.480 --> 0:07:20.920 extra work where I'm actually working? You know, I'm not 0:07:20.960 --> 0:07:23.000 always a big proponent of like side hustle because sometimes 0:07:23.000 --> 0:07:25.680 you're already tired, you know, but if you haven't gotten 0:07:25.680 --> 0:07:27.960 a raisin wall, maybe asking for that, you know, are 0:07:28.000 --> 0:07:29.760 there other expenses that you're like, oh, these are not 0:07:29.760 --> 0:07:32.000 that serious. I can cut in order to have some 0:07:32.000 --> 0:07:35.800 some you know, some excess space so I can save 0:07:35.840 --> 0:07:37.680 a little more. So I would just lean into those 0:07:37.680 --> 0:07:40.680 two things and then I mean, I know it took 0:07:40.720 --> 0:07:43.600 you a long time to save the ten, but the 0:07:43.640 --> 0:07:45.920 fact is you did do that. And I do want 0:07:45.920 --> 0:07:49.800 anyone listening to know that. I I mean, of course 0:07:49.800 --> 0:07:52.960 I don't have a crystal ball, but I do know 0:07:53.440 --> 0:07:58.280 that there is a rebalancing happening, you know, in the 0:07:58.360 --> 0:08:04.280 economic world globally, that the pandemic you know, what'd you. 0:08:04.240 --> 0:08:09.000 Say, I said, pray tell I'm listening, Yes, is happening. 0:08:08.800 --> 0:08:12.840 Right, meaning that like, because of the pandemic, it forced 0:08:12.880 --> 0:08:16.320 people to to it. We were already probably heading toward 0:08:16.360 --> 0:08:18.320 because that is a cycle of things, ups and down 0:08:18.360 --> 0:08:19.680 and ups and downs and up and down. So we 0:08:19.680 --> 0:08:22.720 were already headed, you know, slowly but surely towards whatever 0:08:22.760 --> 0:08:24.600 down cycle was on its way, just because that's just 0:08:24.640 --> 0:08:25.440 the nature of things. 0:08:25.640 --> 0:08:27.640 The tide will ebb and flow, you know. 0:08:27.840 --> 0:08:32.520 But there was a quickening of that process because pandemic 0:08:32.640 --> 0:08:36.040 was something you know, out of the out of an 0:08:36.080 --> 0:08:40.360 extraordinary event that helped to quicken some of that downturn. 0:08:40.760 --> 0:08:43.520 And so as a result, you know, choices were. 0:08:43.360 --> 0:08:47.320 Made like PPP loans, like you know, you're not having 0:08:47.400 --> 0:08:50.240 the mortgage moratorium, the moratory run student loan, so all 0:08:50.280 --> 0:08:54.040 this money has been flooded where it was not before. 0:08:54.480 --> 0:08:56.960 You know, all this grace about not have to pay things, 0:08:57.080 --> 0:08:59.800 so as a result, you cannot. That's just not the 0:08:59.840 --> 0:09:02.400 way the world's work, is not the way that nature works. 0:09:02.440 --> 0:09:05.679 That you know that nature likes to be balanced, and 0:09:05.720 --> 0:09:09.200 so there has been a financial imbalance created, and so 0:09:09.280 --> 0:09:11.800 it will balance itself. And so that's what you're going 0:09:11.840 --> 0:09:14.520 to see coming up. I don't know how long or 0:09:14.600 --> 0:09:16.800 how strong or whatever, but I do know, whether they 0:09:16.880 --> 0:09:19.640 call it a recession whatever or not, something is happening now. 0:09:19.640 --> 0:09:21.000 We can feel it. You know. 0:09:21.120 --> 0:09:23.760 People can see how things cost more money. You can 0:09:23.800 --> 0:09:25.800 see how the market is and you know, has hit 0:09:25.840 --> 0:09:29.920 this huge downturn, especially most recently, and so knowing that, 0:09:30.280 --> 0:09:34.439 I just want everyone to prepare, like prepare. One of 0:09:34.480 --> 0:09:36.360 the best ways to prepare is to have excess money 0:09:36.360 --> 0:09:38.600 on the side, so we all need a little emergency savings, 0:09:38.920 --> 0:09:42.120 you know, prepare by looking at our budgets to say, 0:09:42.440 --> 0:09:44.320 you know, if I had to, you don't have to 0:09:44.320 --> 0:09:46.600 do it now, but if I had to, what could 0:09:46.640 --> 0:09:49.480 I cut if I had to? You know, to me 0:09:49.600 --> 0:09:52.280 having just even just mentally preparing and saying, you know, 0:09:52.320 --> 0:09:54.480 what if I actually had to. I could cut this, 0:09:54.480 --> 0:09:56.560 this and this and free up two hundred dollars a month, 0:09:56.679 --> 0:09:59.600 Duly noted. You know, like, you know what, I haven't 0:09:59.600 --> 0:10:01.120 asked for a race. Let me see if I can 0:10:01.160 --> 0:10:03.600 go get one now, you know what. My My lease 0:10:03.720 --> 0:10:04.880 is up. And I did say I was going to 0:10:04.920 --> 0:10:06.719 get a studio because what I do I really need this one. 0:10:06.840 --> 0:10:08.520 There's one bedroom, Duly noted. 0:10:08.720 --> 0:10:09.480 So things like. 0:10:09.440 --> 0:10:11.200 That, like I would just be mentally preparing and then 0:10:11.240 --> 0:10:16.080 also just actually preparing for what's ahead, because I suspect 0:10:16.640 --> 0:10:21.280 that the rebalancing is going to be equal to the 0:10:21.400 --> 0:10:25.320 unbalanced that the pandemic created, which means it's going to 0:10:25.320 --> 0:10:27.880 be a doozy. And so I just wanted people to 0:10:27.880 --> 0:10:29.440 be I'm not here doing in gloom. 0:10:29.200 --> 0:10:30.079 But I am. I am here. 0:10:30.240 --> 0:10:33.679 I'd rather you be like, oh, over prepared, okay, than 0:10:33.720 --> 0:10:35.280 to be like, oh, I took a kind of light. 0:10:35.320 --> 0:10:37.800 And it's like it's it's the Great Recession all over again, 0:10:37.840 --> 0:10:39.880 and it's a really really hard time for lots of us. 0:10:40.520 --> 0:10:44.920 So batton down the financial Yeah, hatches, right, what even 0:10:45.000 --> 0:10:46.520 is a hatch? I don't know, I don't know what. 0:10:47.200 --> 0:10:52.080 I don't know, but like batten your hatches. Okay, if 0:10:52.080 --> 0:10:54.880 you god, I'm Batnam. Yeah, so for me, I think, 0:10:54.960 --> 0:10:56.640 and this is why I did a whole workshop of 0:10:56.679 --> 0:10:58.800 like recession proofing your career because it goes hand in 0:10:58.800 --> 0:11:01.120 hand with your finances too. But whatever you can do, 0:11:01.160 --> 0:11:03.400 and I think her advice she's looking for too, is like, 0:11:03.480 --> 0:11:06.160 so I've had to do this, So what do I 0:11:06.160 --> 0:11:09.200 prioritize now? And I feel like what you're saying is 0:11:09.559 --> 0:11:12.560 prioritize rebuilding that cash fund, you know, as much as 0:11:12.600 --> 0:11:14.760 you can, as quickly as you can, and hopefully you 0:11:14.760 --> 0:11:16.040 can do it a little bit more quickly than it 0:11:16.080 --> 0:11:18.160 took to initially build it. You can do that by, 0:11:18.320 --> 0:11:20.960 like Tiffany said, looking for ways to increase your income 0:11:21.360 --> 0:11:24.240 or cutting other expenses. But yeah, it does make sense 0:11:24.280 --> 0:11:27.680 to prioritize building that emergency fund back up as soon 0:11:27.720 --> 0:11:31.280 as you can, because that does give you like financial protection. 0:11:31.600 --> 0:11:33.840 And then what kind of steps can you take career 0:11:33.840 --> 0:11:36.480 wise to put yourself on track from more higher earnings. 0:11:36.600 --> 0:11:38.640 I mean, in one career move and one job move, 0:11:38.679 --> 0:11:40.880 if you negotiate a ten thousand dollars sign on bonus, 0:11:40.920 --> 0:11:43.559 you could have that money back. That's the beauty of 0:11:44.200 --> 0:11:46.800 quitting your way, rich Okay, and you live. I see 0:11:46.840 --> 0:11:48.760 how talk about around news Port. 0:11:48.800 --> 0:11:51.079 We don't just be talking about it, We be about it. 0:11:51.440 --> 0:11:55.680 Yeah, we'd be about that way. Yeah, but don't feel 0:11:55.679 --> 0:11:57.640 bad for having to use your fund. Be proud that 0:11:57.679 --> 0:12:00.240 you had it in the first place. Okay, Now it's 0:12:00.280 --> 0:12:01.199 just about rebuilding it. 0:12:01.840 --> 0:12:03.520 And tell Tommy, Pickles and Chucky we. 0:12:03.520 --> 0:12:08.400 Say hey and filling lit. Not that girl, Angelica, no 0:12:08.960 --> 0:12:09.440 a mess. 0:12:09.480 --> 0:12:10.640 That was the original Karen. 0:12:11.160 --> 0:12:15.599 Yes, Hey, Now I gotta go find where can you 0:12:15.640 --> 0:12:17.440 watch rug Rats these days? I got to go find 0:12:17.440 --> 0:12:19.840 it homeboy. I'm like, I'm sick of Paw, Patrol and Peppa. 0:12:19.880 --> 0:12:21.640 I want to get some rug Rats in this household. 0:12:23.040 --> 0:12:23.439 Oh, what's on? 0:12:23.679 --> 0:12:26.719 Supecar Michael? All right, let's take a quick break out. 0:12:26.760 --> 0:12:28.640 We'll be back with another of your b a Q 0:12:28.800 --> 0:12:32.840 and as. Our next question came from someone who liked 0:12:32.880 --> 0:12:37.440 to remain anonymous. Let's call her Holly. Holly says, ooh, 0:12:37.480 --> 0:12:40.600 I love this. Hey, ladies, I'm a serial job hopper. Hey, 0:12:40.640 --> 0:12:42.840 no shade. My favorite thing to do is quit a 0:12:42.920 --> 0:12:46.160 job at the slightest inconvenience. I've had up to five 0:12:46.200 --> 0:12:49.360 different jobs in one year. I've recently started my professional 0:12:49.400 --> 0:12:52.480 career as at r N, where job hopping is common 0:12:52.520 --> 0:12:55.680 and encouraged. My first nursing job I lasted a total 0:12:55.679 --> 0:12:58.360 of eight months. Now I've just accepted a part time 0:12:58.440 --> 0:13:01.040 job with no benefits, just to get me through Christmas. 0:13:01.320 --> 0:13:03.520 My question is, what do you suggest I do with 0:13:03.559 --> 0:13:06.760 all of the roths I've collected over the years. Any 0:13:06.760 --> 0:13:10.520 suggestion on going about getting health insurance? I have an HSA. 0:13:11.120 --> 0:13:12.920 All in all, what would you tell someone who is 0:13:13.000 --> 0:13:17.880 essentially responsible for providing their own benefits from here on out? 0:13:18.160 --> 0:13:18.680 Thank you? 0:13:20.000 --> 0:13:21.240 Well, I'll tak the first part. 0:13:21.480 --> 0:13:24.960 So yeah, I don't know if you Well, she didn't 0:13:24.960 --> 0:13:26.920 say that she has any kids, but anybody with the 0:13:26.960 --> 0:13:29.920 kid little ones knows ten dayers in the bed and the. 0:13:29.880 --> 0:13:33.120 Little ones say roll over, roll over. That's what I 0:13:33.160 --> 0:13:37.600 suggested to you. It's like, wait, I'm not thinking the connection. 0:13:37.800 --> 0:13:39.160 I'm like, I have to go around the world. 0:13:39.960 --> 0:13:42.120 So you just triggered the I'm like, where's Rio because 0:13:42.160 --> 0:13:43.840 that's one of his favorite songs for. 0:13:44.120 --> 0:13:47.360 Like, ten ross in the account and the and the 0:13:47.360 --> 0:13:48.600 little ones say roll over. 0:13:49.040 --> 0:13:49.160 Right. 0:13:49.280 --> 0:13:50.160 So here's the thing. 0:13:50.200 --> 0:13:52.840 I'm so glad that you have not withdrawn the money, 0:13:53.400 --> 0:13:55.480 because you're going to trigger a because you're not fifty 0:13:55.520 --> 0:13:57.000 nine and a half, so you would trigger your fee, 0:13:57.480 --> 0:13:59.679 and if you didn't put that money back, you would. 0:13:59.480 --> 0:14:02.120 Also trigger a tax. Well no, does she say, Oh, 0:14:02.120 --> 0:14:03.080 she says she has roths. 0:14:03.440 --> 0:14:04.080 She has roths. 0:14:04.160 --> 0:14:06.800 Yeah, okay, well actually never there. Well, then you wouldn't 0:14:06.800 --> 0:14:07.360 triger your fee. 0:14:07.440 --> 0:14:09.480 It's only on the money that it's earned, not on 0:14:09.520 --> 0:14:11.040 the money that you put in there. Because roth I 0:14:11.160 --> 0:14:14.920 rays are that's where you have. You've put money, after 0:14:15.040 --> 0:14:18.040 taxes into your wrath. So you are allowed to withdraw 0:14:18.240 --> 0:14:20.880 without the fee and the taxes because but anything above 0:14:20.920 --> 0:14:22.680 and beyond what you actually put in. So let's just 0:14:22.680 --> 0:14:25.160 say it's grown by twenty percent, that additional twenty percent 0:14:25.200 --> 0:14:28.080 you would have to pay taxes and fees on that growth. 0:14:28.360 --> 0:14:30.240 So either way, the. 0:14:30.240 --> 0:14:33.200 Advice is still the same, which is I don't like 0:14:33.280 --> 0:14:37.280 having all these multiple accounts floating because I wish I 0:14:37.280 --> 0:14:39.000 don't know if we ever put that link where it's 0:14:39.080 --> 0:14:41.200 like do you have money out there? Like it's one 0:14:41.200 --> 0:14:43.160 of those like search if you have money? 0:14:43.600 --> 0:14:45.480 Like right, we talked about that, I hope. 0:14:45.640 --> 0:14:48.440 Yeah, and so like I searched Mandy and I found too. 0:14:48.520 --> 0:14:51.280 One was Chase Bank. They owe me nine hundred dollars 0:14:52.320 --> 0:14:54.520 for when like my house was foreclosed upon. I guess 0:14:54.520 --> 0:14:56.520 there was some balance that I did not get. And 0:14:56.560 --> 0:14:59.160 then also too I had something else from some other bank. 0:14:59.200 --> 0:15:01.200 It was one hundred and twenty. So I say all 0:15:01.240 --> 0:15:03.440 that to say people be leaving money behind and forgetting 0:15:03.440 --> 0:15:06.520 that there's money floating. And the best way to not 0:15:06.600 --> 0:15:09.960 do that is every time you leave, to roll it over. 0:15:10.200 --> 0:15:12.240 Sometimes you can roll it over at your current job, 0:15:12.800 --> 0:15:14.360 or you could just roll it over. Like let's just 0:15:14.360 --> 0:15:16.240 say you have a like you know, you have your 0:15:16.240 --> 0:15:18.840 fave bank, we'll call it, you know, like Brianna bish 0:15:18.880 --> 0:15:21.160 and Bank, you know, and so like you know, that's 0:15:21.160 --> 0:15:22.520 the bank where you roll over, like you have a 0:15:22.600 --> 0:15:24.600 rawth iray with that bank. And just any place you 0:15:24.680 --> 0:15:27.480 leave from you know that you take your bag, you 0:15:27.560 --> 0:15:30.680 take your picture frame, you know, of whatever, of your 0:15:30.720 --> 0:15:32.840 dog at the table, and you take your rath iray 0:15:32.880 --> 0:15:35.320 with you, like, you know, do that rollover and so 0:15:35.400 --> 0:15:37.040 because you don't want to leave that money and forget 0:15:37.040 --> 0:15:38.840 about it, because you know, as we get. 0:15:38.720 --> 0:15:40.360 Older, you know, you have so many other jobs. 0:15:40.400 --> 0:15:42.320 If you had five in one year, that's a lot 0:15:42.360 --> 0:15:44.840 of wrath ira to keep it keep you know, keep 0:15:45.400 --> 0:15:47.680 keeping your head, to remember that you have. So roll 0:15:47.720 --> 0:15:49.640 it over, says, find a place a home for them, 0:15:49.680 --> 0:15:50.360 and roll it over. 0:15:50.800 --> 0:15:54.160 I found it missing money dot com. Yes, there's a 0:15:54.160 --> 0:15:56.440 lot of Amanda woodrofts out there. So I'm just gonna 0:15:56.440 --> 0:16:02.600 do this later, all right. So in the second part 0:16:02.600 --> 0:16:05.520 of her question, any suggestions about getting health insurance, I'm 0:16:05.560 --> 0:16:07.640 like still getting over the fact that a nurse goes 0:16:07.680 --> 0:16:09.800 around and doesn't have health insurance, like maybe she's a 0:16:09.840 --> 0:16:13.280 traveling nurse, which actually became and I've got a couple 0:16:13.320 --> 0:16:15.120 of clients. You do that. It's really lucrative. It became 0:16:15.160 --> 0:16:18.720 super lucrative, especially during the pandemic because they were shortages. 0:16:18.760 --> 0:16:21.680 There still are and if you have the life, like 0:16:21.680 --> 0:16:24.000 if you enjoy that lifestyle, then you can make a 0:16:24.000 --> 0:16:27.120 big bank being a traveling nurse. So I mean, I 0:16:27.160 --> 0:16:28.840 think the best thing to do, if you're going to 0:16:28.840 --> 0:16:32.240 be carrying your own insurance and you don't have any 0:16:32.240 --> 0:16:35.000 other option like a partner or you're under twenty six 0:16:35.040 --> 0:16:37.400 and you can use your piggyback on your parents' insurance, 0:16:37.440 --> 0:16:40.360 is to hit up the marketplace, which maybe you've already done. 0:16:40.360 --> 0:16:42.160 You say you have an HSA, which is a health 0:16:42.160 --> 0:16:45.240 savings account, which are only available if you have a 0:16:45.320 --> 0:16:48.960 high deductible health plan, so health high deductible health plans. 0:16:49.000 --> 0:16:51.840 Because you have a high deductible that means you have 0:16:51.840 --> 0:16:54.560 to come out of pocket before your insurance kicks in. 0:16:54.640 --> 0:16:56.760 And so to counteract that, they allow you to put 0:16:56.800 --> 0:16:59.760 money in tax free in an HSA account like a 0:16:59.760 --> 0:17:02.440 save account that you can use for those medical expenses. 0:17:03.280 --> 0:17:05.239 So yeah, I would just go on the marketplace and 0:17:05.320 --> 0:17:08.320 choose the best plan that works for you. With the 0:17:08.400 --> 0:17:10.760 new what is it the Inflation Reduction Act that was 0:17:10.840 --> 0:17:14.040 just passed there were they extended the subsidies that they 0:17:14.040 --> 0:17:17.080 had offered under Obamacare, which was great. So if you 0:17:17.160 --> 0:17:20.680 qualify for subsidies, that would lower the amount of your 0:17:20.680 --> 0:17:25.120 premium on a monthly basis. But also if you're negotiating 0:17:25.200 --> 0:17:27.280 I know this isn't like technically a career question, but 0:17:27.320 --> 0:17:30.359 if you are negotiating your pay, I would factor in 0:17:30.400 --> 0:17:32.760 the fact that you're carrying your own your own insurance 0:17:32.800 --> 0:17:35.959 and definitely like factor that an plus twenty percent when 0:17:36.000 --> 0:17:38.560 you're negotiating, so that you can lead some extra cushion 0:17:38.560 --> 0:17:40.560 in there to pay for those health expenses that may 0:17:40.600 --> 0:17:41.040 pop up. 0:17:41.640 --> 0:17:42.720 Good advice. 0:17:44.040 --> 0:17:47.719 Yeah, if you guys have questions, we have answers, ish 0:17:47.800 --> 0:17:48.280 or whatever. 0:17:49.320 --> 0:17:50.880 You can certainly are your self shakers. 0:17:51.840 --> 0:17:55.520 We could ask them in our dms. On Insta. 0:17:56.080 --> 0:17:59.399 You can go to brodivisionpodcast dot com and click like 0:17:59.440 --> 0:18:01.880 the ask us anything or contact button you can ask there. 0:18:02.560 --> 0:18:05.280 You can go to brandabishon at g Brown Ambition at 0:18:05.280 --> 0:18:06.639 gmail dot. 0:18:06.480 --> 0:18:09.080 Com, Branhibition Podcast at gmail dot com. 0:18:09.119 --> 0:18:10.400