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Speaker 1: Welcome to How to Money. I'm Joeld, I'm Matt, and

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

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Speaker 2: Your mustache, by the way, buddy, is looking quite fine. Well,

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Speaker 2: I think we've not talked. Have we not talked about

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Speaker 2: it on the show?

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Speaker 1: I don't think we have mentioned it.

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Speaker 2: Maybe early on we joked about it, but it's like

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Speaker 2: full on legits.

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Speaker 1: Well.

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Speaker 2: Oh, we did joke about it early on.

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Speaker 1: Because it wasn't joke in the beginning. It looked like

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Speaker 1: a joke.

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Speaker 2: No, it's like it's just it's like a stick as

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Speaker 2: your hair up top. And I'm not disparaging.

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Speaker 1: Either with good My thinning hair looks great with mine

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Speaker 1: not so great.

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Speaker 2: Mustache, but the thin mustache as well. No, how long

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Speaker 2: are you planning to keep it? By the way, I

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Speaker 2: don't know.

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Speaker 1: I'm kind of I feel like it's one of our

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Speaker 1: friends recently, one of our mutual friends recently said, you

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Speaker 1: look more like yourself now I mustache, And I.

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Speaker 2: Thought that was the highest compliment. Honestly, pains that they've

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Speaker 2: gotten used to it, that's what that means.

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Speaker 1: And I was like, but I think it was the

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Speaker 1: first time you'd seen me with it. Oh, really yeah,

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Speaker 1: and so okay, all right if you feel that way

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Speaker 1: and this is your first or second time seeing me,

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Speaker 1: But I think I'm I think I'm starting to enjoy it.

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Speaker 1: I like me with a mustache better than me without. Okay,

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Speaker 1: so maybe I'll keep it around for a while, so

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Speaker 1: not to make things about me. Do you think I

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Speaker 1: should grow mine out? And then we can not duly

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Speaker 1: mustache but like coordinated sparring mustaches. I thought it looked good.

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Speaker 1: It was just that all of your family hated it.

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Speaker 2: That's the thing. I even mentioned that, Decate, because maybe

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Speaker 2: it was that Halloween. We're hanging out with some friendly

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Speaker 2: a little party, right and we're talking about it, and

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Speaker 2: they were like saw pictures.

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Speaker 1: They're like, oh no, no, that's that's decent.

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Speaker 2: And I mentioned it. Decate. She's like, I don't care

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Speaker 2: what they think. What about what? I think? We should

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Speaker 2: probably move on. I can't just talk about mustaches. I

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Speaker 2: don't think I'm gonna grown out.

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Speaker 1: But let's just lit in my first foray in official hair,

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Speaker 1: and it's going well. I think it's I think it's solid.

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Speaker 2: Bit I keep it around. But no, this is another

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Speaker 2: glorious Monday where we're gonna tackle some listener questions. Buddy,

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Speaker 2: We're gonna talk about how there's no such thing as

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Speaker 2: a free roof. If I was gonna say lunch, didn't you.

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Speaker 2: There's no such thing as a free roof.

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Speaker 1: This is an ensure such thing as a cheap lunch

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Speaker 1: if you bring leftovers.

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Speaker 2: That's that's true. It's another glorious day of eating leftovers

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Speaker 2: as well today coming up.

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Speaker 1: Mine were inferior leftovers today, but still leftovers.

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Speaker 2: Another lessener, Well, he's worried about AI putting him out

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Speaker 2: of work soon, so he wants to know what he

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Speaker 2: should be doing about that. We're also going to talk

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Speaker 2: about health reimbursement arrangements, which sounds so sketchy. It sounds

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Speaker 2: so it sounds not legit, right, it's an arrangement, jol.

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Speaker 2: It's an It sounds so informal. That's the problem. That's true.

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Speaker 2: When you say an arrangement, it just sounds like something

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Speaker 2: that you don't have written down on paper. But that's

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Speaker 2: not the case. I'm highly suspicious that's not the case

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Speaker 2: with this one though. But yeah, open enrollment. It's still open,

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Speaker 2: so we'll get to that one plus question.

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Speaker 1: I'm thinking maybe he needs to go unplug all the

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Speaker 1: machines to run all the ais. Maybe this is the

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Speaker 1: way around it to kill it in its infancy. Oh yeah,

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Speaker 1: just a thought. Okay, go to the heart of Mordor

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Speaker 1: and eliminate the AI.

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Speaker 2: Oh the two towers rubbing off on How did you

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Speaker 2: You just finished? So good? Yeah, I'm waiting on the

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Speaker 2: third book. You can immediately start Return of the King.

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Speaker 1: Uh when while I'm waiting for the library to say

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Speaker 1: that I can have it. When when they do, I'll

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Speaker 1: read it.

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Speaker 2: I'm pome for you. Man. This this is a series

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Speaker 2: that i haven't touched in decades, but I'm looking forward

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Speaker 2: to definitely worth revisiting. Oh yeah, I can't. I can't

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Speaker 2: wait too well, I want to redo it. I want

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Speaker 2: to revisit it with the kids. Speaking of the you

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Speaker 2: know what it reminds me of. There's like many names

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Speaker 2: that I mentioned the name of a certain object, and

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Speaker 2: there's AI companies named after these objects in Lord of

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Speaker 2: the Rings and a Rill and there is a defense

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Speaker 2: defense defense yeah yeah, yeah, yeah, So I just I'm

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Speaker 2: like volunteer, but I think some of those companies missed

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Speaker 2: the part of the point of the book and being

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Speaker 2: like more of the there's some.

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Speaker 1: Highly relational, beautiful moments in the book, and I'm like,

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Speaker 1: these are like defense they picked out a cute name.

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Speaker 2: But I think it's like a nerdy way for some

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Speaker 2: of these guys to have maybe a signaled to some

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Speaker 2: of the other fans of Yeah LOTR but that hey,

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Speaker 2: we're on the same page here when it comes to

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Speaker 2: some of the not fan I was about to say,

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Speaker 2: fanfic some of the different stories that we've enjoyed over.

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Speaker 1: At I just wonder if they fully internalized it in

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Speaker 1: the way Tolkien wanted them to. You know.

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Speaker 2: Yeah, I don't know. Maybe we should move on there.

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Speaker 2: Maybe we should have named our company instead of we

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Speaker 2: should have after a Tolkien s.

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Speaker 1: Gollum incorporated Schmiegel LLC.

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Speaker 2: No, let's get to our beer that you and I

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Speaker 2: are gonna share today. This is a bourbon barrel Age

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Speaker 2: Imperial Stout Vintage Ale by Kirkland Signature, and technically it's

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Speaker 2: got the Kirkland Sig label on it. But this is

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Speaker 2: a beer by the Shoots. But you can't buy that

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Speaker 2: to Shoots, right, I think literally this is Kirkland Sigg's beer.

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Speaker 1: I love a co branded beer like this and to

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Speaker 1: be honest, many of the Kirkland signature beers have left

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Speaker 1: me wanting and in fact, they've been downright not very good,

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Speaker 1: and so I'm really excited to dive into this one.

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Speaker 1: This is a specialty beer they've made, so we'll give

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Speaker 1: our thoughts at the end of the episode. All right,

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Speaker 1: so let's get in listener questions. Matt, and by the way,

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Speaker 1: if you have a question for us, we want to

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Speaker 1: hear it, just got to have the money dot com

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Speaker 1: slash ask or if you want to skip the reading part,

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Speaker 1: just go to the voice memo app of your phone,

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Speaker 1: turn it, press the record button, say your name and

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Speaker 1: what your question is, and then email it to us.

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Speaker 1: It won't take long and we'll hopefully take it next

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Speaker 1: week on the show. Thank Yeah, we'd love to hear

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Speaker 1: from you. All right, let's get to a question. This

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Speaker 1: one is specifically about insurance and I don't know, maybe

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Speaker 1: pull the wool over your insurance company's eyes.

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Speaker 3: Hey, Matt and Joel, this is him from Mount Prospect, Illinois.

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Speaker 3: I greatly appreciate all the financial and non financial advice

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Speaker 3: you guys have given over the years. I can honestly

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Speaker 3: say that I am living in all around healthier lifestyle

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Speaker 3: thanks to you guys bringing up books like The eighty

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Speaker 3: eighty Marriage and Born to Run. A question for you

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Speaker 3: guys today is in regards to these companies going around

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Speaker 3: our neighborhood handing out flyers advertising that can help you

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Speaker 3: get a free roof through insurance due.

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Speaker 2: To wind and hail damage.

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Speaker 3: On the other side of this coin, insurance companies are

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Speaker 3: saying that premiums are going up because of the increase

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Speaker 3: they are seeing and paying out these time it claims.

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Speaker 3: The sled to a friendly debate with one of my buddies.

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Speaker 3: Would you enlist one of these companies since you are

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Speaker 3: already paying higher premiums as a result of others doing it?

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Speaker 3: Or would you pay for the new roof yourself so

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Speaker 3: you are not contributing to the problem. I look forward

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Speaker 3: to hearing your guys thoughts.

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Speaker 2: Thank you, Joel, you know exactly what Tim's talking about.

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Speaker 2: You get these texts as well, right, Oh yeah, and

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Speaker 2: so I just I just pulled up my phone.

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Speaker 1: Sometimes it's legitally people just knocking on your door or

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Speaker 1: leaving a flyer in your mailbox too.

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Speaker 2: I get more often than not text like maybe I'll

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Speaker 2: get like two a year as far as folks coming by,

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Speaker 2: but more than off, like more often than not their

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Speaker 2: text and literally, in the past month, I just looked,

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Speaker 2: I've had four people reach out and they say, Hey,

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Speaker 2: we've got a crew in the area, or we've got

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Speaker 2: an inspector. We'd love to swing by and see if

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Speaker 2: there's any damage to your roof. I don't like it.

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Speaker 1: It's about to be five because I'm gonna text you later,

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Speaker 1: okay about the roof. Yeah, it's funny. I had a

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Speaker 1: friend growing up and his dad would do this, but

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Speaker 1: not the fly by night kind of thing. He would

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Speaker 1: literally go to areas of experienced storm damage with this company,

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Speaker 1: and that was just jo like to go to the

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Speaker 1: part of the country that had just recently experienced some

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Speaker 1: sort of natural disaster and then work to get quotes

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Speaker 1: for people to get things six, which makes sense. We

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Speaker 1: haven't had a natural disaster in our area, mat this

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Speaker 1: is not There was no tornado that just ripped through

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Speaker 1: our neighborhoods causing dam or hailstorm causing damage. And so

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Speaker 1: this is one of those things where, yeah, the question

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Speaker 1: is partly financial, but it's also moral, right, and this

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Speaker 1: actually reminds me of a recent Econ Talk podcast, one

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Speaker 1: of my favorite podcasts. It's been around for like twenty years.

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Speaker 1: But the conversation was about Roberts. Oh yeah, he's awesome.

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Speaker 1: And so this one was about the shampoo bottles in

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Speaker 1: hotels and it it sounds like the most random conversation.

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Speaker 1: But why is it that we think it's fine to

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Speaker 1: take small three ounce bottles of shampoo home with us?

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Speaker 1: But now that hotels have largely migrated to using the bigger,

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Speaker 1: wall mounted bottles, which I love, which is great, probably

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Speaker 1: makes sense for a money saving perspective for them to

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Speaker 1: the pump. You just yeah, but then you don't get

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Speaker 1: to take it home with you, right, which I think

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Speaker 1: some people they met, like the guy that was being interviewed,

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Speaker 1: has apparently a treasure trove of these three ounce shampoo

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Speaker 1: bottles and he loves them.

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Speaker 2: I hate them. They're they're so hard to get the

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Speaker 2: it's I like the pump. It's like the old Ketchup bottles, Yeah,

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Speaker 2: trying to get the Ketchup out, but even tiny p

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Speaker 2: yeah yeah, yeah, I don't like so.

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Speaker 1: But of course we wouldn't dream of putting the full

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Speaker 1: size bottle in our suitcase, right, Like.

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Speaker 2: That'd be cheap.

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Speaker 1: Yeah, exactly, And I think this is a point I

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Speaker 1: get arrested. The whole conversation is centered around this point

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Speaker 1: where money saving maneuvers are acceptable, like putting more money

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Speaker 1: in your four O one K to reduce income, and

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Speaker 1: then maybe where others cross the line, like hiding income

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Speaker 1: or lying to reduce your taxable income. And some things

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Speaker 1: are literally just like could get you in legal hot water,

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Speaker 1: but others are just we find them repulsive or we

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Speaker 1: know that if our neighbor told us about it, they

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Speaker 1: that we would be like, oh dude, I don't know, man,

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Speaker 1: that's pretty ridiculous, Like nobody does that, why would you

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Speaker 1: do that? Yeah, maybe you can get away with it,

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Speaker 1: but it doesn't make it right.

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Speaker 2: Yeah, I mean, I think everyone has a different line,

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Speaker 2: which is a part of what makes the frugal versus

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Speaker 2: cheap questions so interesting. But I do think that there's

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Speaker 2: always a window of acceptability, like where the vast majority

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Speaker 2: of folks can at least understand why someone would come

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Speaker 2: to that conclusion. That being said, we wouldn't be able

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Speaker 2: to use this method to file acclaim with the clear conscience.

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Speaker 2: First of all, many of the companies that do business

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Speaker 2: in this way are fly by night, right, and so

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Speaker 2: I think the chances are that the job has done well,

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Speaker 2: that they do a good job.

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Speaker 1: It's pretty slim. The kind of companies that would try

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Speaker 1: to get you to file a claim for damage that

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Speaker 1: wasn't actually done to your roof are likely going to

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Speaker 1: be the companies who don't take as much care when

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Speaker 1: they're repairing or replacing your roof.

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Speaker 2: I wouldn't suspect that they would be a high quality

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Speaker 2: company putting doing it properly. And I think the primary

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Speaker 2: thing is they're just looking for the paycheck from the

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Speaker 2: insurance company, right like they're waiting on that fat check,

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Speaker 2: and then they're moving on as quickly as they can.

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Speaker 1: And so part of that is because they're not maybe

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Speaker 1: an actual company who does business in your community, who

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Speaker 1: thrives or at least exist on good reviews from people

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Speaker 1: who live in the community, right, And if they are

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Speaker 1: more of a fly by night company, that's not what

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Speaker 1: they care about. And if they don't care about community reputation,

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Speaker 1: then it probably means they're not as beholden to how

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Speaker 1: you think of them, which could mean inferior service soure.

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Speaker 2: The incentives aren't aligned for them to do a good job.

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Speaker 2: They're literally there to get the project started, to get

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Speaker 2: the check, and then they move on.

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Speaker 1: And typically these companies can find something to report that

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Speaker 1: justifies a new roof, right, but does it really feel

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Speaker 1: like the right thing to do to get them up

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Speaker 1: on the roof to file a report that might or

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Speaker 1: might not pass muster with the insurance company. As my

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Speaker 1: mom would say, Matt, if everyone was going to jump

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Speaker 1: off a bridge, would you do it too? Did your

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Speaker 1: mom ever say anything like that to you?

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Speaker 2: No? And I literally jumped off bridges. So the answer

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Speaker 2: for Matt was yes, but she she didn't know I

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Speaker 2: was jumping off the bridges and it was into a

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Speaker 2: river and we would check out that. Actually, we didn't

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Speaker 2: check out the river before we jumped into That's my

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Speaker 2: biggest regret looking back. We could have really messed us. Really,

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Speaker 2: you always, yeah, you always gotta if you're gonna do this, kids,

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Speaker 2: I always make sure there's no Yeah, check the depth,

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Speaker 2: make sure there's no trees down there. Hey, let's assume

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Speaker 2: there's no water below. Especially if people are jumping off

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Speaker 2: the bridge, like, you're not going to follow them to

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Speaker 2: their demise because everybody's doing it, and I think that

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Speaker 2: was that was my mom's point, although you you might

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Speaker 2: not have understood it, like, yeah, it sounds like fun.

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Speaker 1: You lived my house going up. But even if let's

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Speaker 1: say this roof for was to do a top notch job,

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Speaker 1: giving you a fantastic roof to enjoy for decades to come,

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Speaker 1: you still pay deductible, which is far less than the

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Speaker 1: cost of the new roof. But that will also increase

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Speaker 1: your insurance premiums for years to come and your ability

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Speaker 1: to switch insurers to save because that claim goes on

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Speaker 1: your clue report, and that clue report is kind of

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Speaker 1: behind the scenes that when you say, hey, I'm trying

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Speaker 1: to go from State Farm to Liberty Mutual, Libertymutual says, hey, well,

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Speaker 1: you found that claim with State Farm for the new roof,

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Speaker 1: so we're either going to charge you more or not

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Speaker 1: accept you. So that could prevent you from saving money

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Speaker 1: in the future. And I think, but I think really

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Speaker 1: you agree this too. Is my guess is that the

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Speaker 1: most important thing at the heart of this question is

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Speaker 1: it feels like cheating your insurance company. It reminds me

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Speaker 1: of the stories of people just massively abusing Costco's return policy. Hey,

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Speaker 1: I got these tires four years ago. They're bald as

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Speaker 1: a mother now, but I'm going to return them because

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Speaker 1: your return policy says that I can. And everybody who

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Speaker 1: has any sort of conscience or like moral care or

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Speaker 1: qualm decency, decency is going to say, yeah, I don't

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Speaker 1: do that. We don't do that. That's ridiculous. That's abusive

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Speaker 1: of a company that is actually great and offers offers

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Speaker 1: a solid product at a reasonable price. So I think

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Speaker 1: if you truly experienced hail damage and you need to

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Speaker 1: file a claim, do it. But if it's a bogus

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Speaker 1: claim and an attempt to get a new roof that

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Speaker 1: you don't deserve, that you don't need, that isn't truly damaged,

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Speaker 1: don't do it.

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Speaker 2: Yeah, this is why we can't have nice things. That's

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Speaker 2: the phrase that comes to mind when I hear this, right,

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Speaker 2: because people are abusing the system, even though technically speaking

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Speaker 2: it might be allowable. But that's unfortunately, it's just the

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Speaker 2: tendency of society to be moving in this more lawfair

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Speaker 2: sort of direction where things are contested as opposed to

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Speaker 2: just having character like doing the right thing. And also,

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Speaker 2: I don't want it to make it sound like that

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Speaker 2: we're like running Tim through the ringer here, Like truly,

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Speaker 2: if there is damage that has been afflicted upon your roof,

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Speaker 2: then like, yeah, like Joe said, that is totally something

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Speaker 2: that you can do. But there's a difference between like

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Speaker 2: the heart of the law and like the.

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Speaker 1: The letter of the law basically yeah, and then the

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Speaker 1: heart of the law or that you're getting at here

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Speaker 1: is not.

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Speaker 2: Like every time something happens to your roof that you

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Speaker 2: are entitled to a new roof basically yeah.

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Speaker 1: Well again, yeah, it's this collective action problem where if

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Speaker 1: everybody does it, it's going to lead to higher insurance

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Speaker 1: rates across the board. But it's also going to lead

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Speaker 1: to higher insurance rates for Tim or for his friend.

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Speaker 1: He said, this was a conversation with his friend. What

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Speaker 1: if you two, whoever does this is going to see

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Speaker 1: increased premiums you know, for themselves as well.

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Speaker 2: Totally, Yeah, it's costing all of us money. And I

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Speaker 2: totally get the impulse to, you know, to the smooth

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Speaker 2: talking roover up the inspector, take them up on there. Hey,

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Speaker 2: let me hop up there, all take a look around,

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Speaker 2: see what's going on. But you know, I think some

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Speaker 2: folks unwillingly file acclaim they move forward, but this is

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Speaker 2: ultimately why we're seeing rates rise across the board for

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Speaker 2: all of us. But one thing to keep in mind

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Speaker 2: know that insurance companies they have gotten wise to this

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Speaker 2: game and they are pushing back a bit more forcefully now.

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Speaker 2: So even still, despite the allure of a quote unquote

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Speaker 2: free roof, I think that's ethically dubious, and on top

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Speaker 2: of that, aside from the ethics, from a financial standpoint,

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Speaker 2: it could end up coming back and biting in the butt.

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Speaker 1: And the reason I think the roof part is so

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Speaker 1: is a big part of this matt is because roofs

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Speaker 1: are expensive, like the idea, depending on the size of

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Speaker 1: your roof and what material you're using. I think at

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Speaker 1: this point ten thousand dollars would be cheap for a roof,

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Speaker 1: right and I haven't replaced a roof in the last

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Speaker 1: few years, but like could be, especially if you have

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Speaker 1: a big house covering a lot of square footage. You

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Speaker 1: can be talking about twenty plus thousand dollars to replace

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Speaker 1: a roof. And so this feels so enticing, like, oh,

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Speaker 1: this is a twenty to thirty year product that's gonna

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Speaker 1: it's gonna last that long. Yes, I know I'm gonna

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Speaker 1: have to replace it soon. But man, if I can

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Speaker 1: get the insurance company to take this headache off my hands,

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Speaker 1: for me, that's a lot of money I'm gonna save.

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Speaker 1: So it's appealing from that perspective, But it's one of

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Speaker 1: those things as a homeowner that you have to be

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Speaker 1: budgeting for. Along the way is the replacement of those

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Speaker 1: more expensive systems of your home, the roof, the HVAC,

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Speaker 1: stuff like that. So yeah, well, nobody wants to fork

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Speaker 1: over the money. That's kind of part of what comes

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Speaker 1: along with buying that home in the first place.

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Speaker 2: You got to set up that sinking phone. But Joel,

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Speaker 2: we got more to get to. We're gonna hear from

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Speaker 2: a listener and he thinks that AI is gonna run

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Speaker 2: him out of business.

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Speaker 1: We'll get to that and more right after this. Right

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Speaker 1: we're back from the break, got more of your questions

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Speaker 1: to get to, Matt. Let's take a question now from

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Speaker 1: a listener who wants to wroth of more of her money.

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Speaker 4: Hi, man, Jel, this is Vicky from Ohio. I'm an

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Speaker 4: average earner around sixty nine thousand a year. I max

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Speaker 4: out my HSA and my WROTH every year. I wanted

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Speaker 4: to know if I can put money into my four

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Speaker 4: oh one k at work and transfer it over do

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Speaker 4: a ROTH conversion to my ROTH. Thank you for your help.

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Speaker 4: I really enjoy your show. I've learned so much. Bye.

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Speaker 2: All right, VICKI, First off, can I just say that

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Speaker 2: you are a total boss, the fact that you are.

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Speaker 2: She's got an annual income of around seventy thousand dollars,

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Speaker 2: she's maxing out her roth IRA and her HSA, and

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Speaker 2: she didn't mention a family, so I'm assuming that she's

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Speaker 2: talking about the single version of the HSA for an

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Speaker 2: individual as opposed to a family that's over eleven thousand

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Speaker 2: dollars with totally is not easy in total, Yeah, that's

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Speaker 2: not easy to do with seventy seventy thousand dollars income

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Speaker 2: and so so.

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Speaker 1: Much riz as the kids would say, Matt, Yeah, I

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Speaker 1: don't know. I think does I like to use those

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Speaker 1: terms early twenty twenty four inappropriately just to make myself

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Speaker 1: sound even older.

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Speaker 2: Actually, which is what it in fact does.

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Speaker 1: That's my favorite thing to do, so now that people

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Speaker 1: know I'm truly middle aged. But yeah, no, for real,

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Speaker 1: like maxim both those retirement accounts on that salary is incredible.

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Speaker 2: It's really impressive, and it just adds I hope it's

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Speaker 2: encouraging for a lot of folks who hear this. They

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Speaker 2: hear that and they're like, oh man, that's about what

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Speaker 2: I make. Actually, oh wow, that's possible. She's doing it,

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Speaker 2: she's been doing it, yeah, and on talk about that

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Speaker 2: she's looking to do even more. It makes me think

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Speaker 2: of my conversation not too long ago with Hope from

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Speaker 2: Under the Median and their family has essentially made average

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Speaker 2: of forty thousand dollars for their entire working lives, and

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Speaker 2: she talks about how they were able to buy a

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Speaker 2: home in cash and pay off a home quickly, like

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Speaker 2: they just all the things they were able to do,

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Speaker 2: And that's such an inspiring episode because of their attention

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Speaker 2: to detail and frugality.

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Speaker 1: Not everybody wants to go out there and find a

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Speaker 1: job that's incredibly stressful that's going to pay them one

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Speaker 1: hundred and fifty grand a year, because let's be honest,

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Speaker 1: sometimes the more money you make, it means the more

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Speaker 1: you have to trade off living your life. And so

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Speaker 1: Vicky is, I don't know what she's doing, whether she

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Speaker 1: loves her job or not. Put it, I will say

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Speaker 1: she's from a numbers standpoint, she's doing a great job,

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Speaker 1: totally crushing it. Yes, it does make me think too,

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Speaker 1: she's from She says she's.

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Speaker 2: From Ohio, and Ohio has the lower cost of living

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Speaker 2: rate or whatever. Sure, it has an actual lower cost

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Speaker 2: of living compared to the rest of the country. So

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Speaker 2: I don't know what city she's in. But that's something

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Speaker 2: else too, that maybe there's a quick takeaway here for

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Speaker 2: folks to hear that and think that's it would be

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Speaker 2: impossible for me to set aside that amount of money

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Speaker 2: where I live. Well, yeah, you could also can, and

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Speaker 2: I'm not saying completely uproot your life, but there are

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Speaker 2: certain things that you have control over. Yeah, And I

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Speaker 2: think it's worth considering cost of living. And maybe Vicky

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Speaker 2: actually like lives out in the country, so maybe she's

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Speaker 2: not even in a city, right, and so she's maybe

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Speaker 2: for her this is easy, this is cake.

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Speaker 1: Also, I think there's something about Midwestern values and I

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Speaker 1: don't know, maybe maybe that sounds ridiculous, but I do

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Speaker 1: think frugality is kind of like baked into the cake

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Speaker 1: of how Midwesterners function at least on average right as

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Speaker 1: like a looking from the outsiders, as someone who's visited

433
00:19:15,320 --> 00:19:18,200
Speaker 1: regularly places like Ohio and Wisconsin, the people I meet there,

434
00:19:18,200 --> 00:19:22,560
Speaker 1: frugality seems to be less like dorky. It's more just

435
00:19:22,640 --> 00:19:24,240
Speaker 1: kind of this is normal. Where if you live in

436
00:19:24,359 --> 00:19:28,199
Speaker 1: la is like frugality, yeah, And so I think there

437
00:19:28,240 --> 00:19:29,439
Speaker 1: is something to that where if you live in a

438
00:19:29,440 --> 00:19:31,680
Speaker 1: place where all the heart Landers, people don't care if

439
00:19:31,680 --> 00:19:35,560
Speaker 1: you're wearing a Kirkland signature sweatshirt and jeans versus or.

440
00:19:35,560 --> 00:19:38,000
Speaker 2: Not because we're over here drinking Cookland sig beer.

441
00:19:38,119 --> 00:19:40,480
Speaker 1: I know, but like you're not getting into that in

442
00:19:40,520 --> 00:19:43,520
Speaker 1: the club in West Hollywood or something like that.

443
00:19:43,560 --> 00:19:44,040
Speaker 2: So I don't know.

444
00:19:44,040 --> 00:19:45,959
Speaker 1: Maybe it's easier to pull off in Ohio as well.

445
00:19:46,000 --> 00:19:46,520
Speaker 1: For that reason.

446
00:19:46,600 --> 00:19:49,280
Speaker 2: You've made yourself sound old yet again, Josh, I know,

447
00:19:49,560 --> 00:19:50,480
Speaker 2: I'm really good at that.

448
00:19:51,080 --> 00:19:53,439
Speaker 1: You fit your quota for this for the show. Oh,

449
00:19:53,440 --> 00:19:57,560
Speaker 1: there's more to come. So the accessibility that Viggie's gonna

450
00:19:57,600 --> 00:20:00,200
Speaker 1: have right is going to help her out to she's

451
00:20:00,240 --> 00:20:02,320
Speaker 1: attempting to retire early. I don't know if she is,

452
00:20:02,400 --> 00:20:04,880
Speaker 1: but the HSA and the roth Ira, those are very

453
00:20:04,880 --> 00:20:08,280
Speaker 1: flexible accounts, but she's looking to do even more, which

454
00:20:08,400 --> 00:20:10,520
Speaker 1: of course we love. And the first thing to note,

455
00:20:10,600 --> 00:20:12,480
Speaker 1: by the way, is that you you might not have

456
00:20:12,520 --> 00:20:15,520
Speaker 1: to do a Roth conversion. Many employers offer a Wroth

457
00:20:15,560 --> 00:20:18,040
Speaker 1: four oh one K option picky, so that's worth looking

458
00:20:18,040 --> 00:20:20,200
Speaker 1: into that. I think last I read something like ninety

459
00:20:20,200 --> 00:20:22,560
Speaker 1: percent of employers make a WROTH four O one K

460
00:20:22,720 --> 00:20:26,680
Speaker 1: option available, so it's getting pretty ubiquitous at this point,

461
00:20:26,800 --> 00:20:29,240
Speaker 1: which means you wouldn't have to do anything other than

462
00:20:29,280 --> 00:20:33,520
Speaker 1: just contribute directly to that account, and you probably should

463
00:20:33,560 --> 00:20:35,240
Speaker 1: do that if it's available to you. Right, if you

464
00:20:35,240 --> 00:20:37,960
Speaker 1: were making like three hundred thousand dollars a year, we'd

465
00:20:38,000 --> 00:20:40,159
Speaker 1: probably say stick with the traditional four oh one k,

466
00:20:41,720 --> 00:20:44,080
Speaker 1: But given your income level, I think Wroth everything is

467
00:20:44,240 --> 00:20:47,240
Speaker 1: a totally fine, potentially an awesome approach. So if there's

468
00:20:47,240 --> 00:20:49,040
Speaker 1: a Roth four O one k available where you work,

469
00:20:49,359 --> 00:20:51,679
Speaker 1: I don't know, Matt, I'd i'd be strongly considering that.

470
00:20:51,800 --> 00:20:54,560
Speaker 2: Yeah, yeah, So check with your with HR or looking

471
00:20:54,560 --> 00:20:57,080
Speaker 2: to do your benefits to see if that's something you

472
00:20:57,119 --> 00:20:59,800
Speaker 2: can do right directly contributing to that Wroth four one

473
00:20:59,880 --> 00:21:02,719
Speaker 2: K that would be the simplest path forward, although it

474
00:21:02,800 --> 00:21:05,080
Speaker 2: wouldn't help you if you were looking to be able

475
00:21:05,119 --> 00:21:08,280
Speaker 2: to draw down on some of those those contributions if

476
00:21:08,320 --> 00:21:10,879
Speaker 2: you're looking to retire early. But let's assume though that

477
00:21:10,920 --> 00:21:14,199
Speaker 2: your employer does not offer a ROTH four O one K,

478
00:21:14,280 --> 00:21:15,639
Speaker 2: and let's just say you you know you want to

479
00:21:15,640 --> 00:21:18,640
Speaker 2: get more money into your actual ROTH IRA. To your

480
00:21:18,680 --> 00:21:22,600
Speaker 2: specific question, the answer is yes, if your company allows

481
00:21:22,600 --> 00:21:25,800
Speaker 2: in service rollovers, you're allowed to contribute money to your

482
00:21:25,840 --> 00:21:27,720
Speaker 2: four O one K. And by the way, I hope

483
00:21:27,760 --> 00:21:31,000
Speaker 2: you're getting a match for doing so, for contributing to

484
00:21:31,000 --> 00:21:33,080
Speaker 2: that four on K. But then you would do a

485
00:21:33,240 --> 00:21:36,120
Speaker 2: direct rollover of four to one K dollars to an IRA.

486
00:21:36,720 --> 00:21:39,520
Speaker 2: But that is a big if though, And I'll say,

487
00:21:39,560 --> 00:21:42,000
Speaker 2: if you're with a low cost brokerage, a low cost provider,

488
00:21:43,640 --> 00:21:45,720
Speaker 2: it certainly makes sense to keep it with that company,

489
00:21:45,800 --> 00:21:49,119
Speaker 2: keep it under the same umbrella essentially. But then what

490
00:21:49,160 --> 00:21:52,320
Speaker 2: you're able to do is convert the traditional IRA dollars

491
00:21:52,600 --> 00:21:55,879
Speaker 2: into WROTH dollars. It's a few steps, but you can potentially,

492
00:21:56,480 --> 00:21:59,960
Speaker 2: like Joel said, rathify those dollars. Do keep in mind

493
00:22:00,119 --> 00:22:01,800
Speaker 2: that you're gonna be paying tax on this, right, and

494
00:22:01,840 --> 00:22:04,639
Speaker 2: so it sounds like this is something you're looking to

495
00:22:04,680 --> 00:22:08,360
Speaker 2: do moving forward. It's not like you've got seventy five

496
00:22:08,359 --> 00:22:12,000
Speaker 2: thousand dollars worth of four ON and K contributions sitting

497
00:22:12,040 --> 00:22:13,479
Speaker 2: there to where you'd be stuck with a big old

498
00:22:13,520 --> 00:22:16,600
Speaker 2: fat tax bill all in a singular year. But if

499
00:22:16,640 --> 00:22:19,000
Speaker 2: she does, if you do keep that in mind, you're

500
00:22:19,000 --> 00:22:20,560
Speaker 2: gonna have a big old tax bill. But just yeah,

501
00:22:20,640 --> 00:22:23,720
Speaker 2: no moving forward that you are not getting a deduction

502
00:22:23,920 --> 00:22:25,600
Speaker 2: for those four and K contributions.

503
00:22:25,680 --> 00:22:29,040
Speaker 1: Yeah, yeah, I think that's a really important thing to mention.

504
00:22:29,359 --> 00:22:31,720
Speaker 2: And taxes are a big consideration when you are looking

505
00:22:31,760 --> 00:22:35,240
Speaker 2: to change the tax What is it the tax character

506
00:22:35,359 --> 00:22:36,160
Speaker 2: of these dollars?

507
00:22:36,280 --> 00:22:38,680
Speaker 1: Yeah, and so and when and how much like those are?

508
00:22:38,720 --> 00:22:41,639
Speaker 1: Really those are really important questions. And the truth is

509
00:22:41,960 --> 00:22:44,600
Speaker 1: you if there is a big lump summon there that

510
00:22:44,720 --> 00:22:47,760
Speaker 1: would push you to think through that in a more

511
00:22:47,800 --> 00:22:48,840
Speaker 1: holistic way.

512
00:22:49,200 --> 00:22:50,720
Speaker 2: About more gradual way.

513
00:22:50,720 --> 00:22:52,600
Speaker 1: Perhaps, yeah, maybe I do this over the course of

514
00:22:52,600 --> 00:22:55,200
Speaker 1: a number of years instead of doing this in one

515
00:22:55,200 --> 00:22:57,600
Speaker 1: fell swoop. And actually, I don't know. Maybe because I'm

516
00:22:57,600 --> 00:22:59,320
Speaker 1: still making money and I think I'll make less money

517
00:22:59,320 --> 00:23:02,000
Speaker 1: once I retire, maybe it makes sense to actually hold

518
00:23:02,040 --> 00:23:08,040
Speaker 1: off on some of those recharacterizations from traditional to ROTH

519
00:23:08,560 --> 00:23:11,679
Speaker 1: until I look like I'm making less money to the

520
00:23:11,680 --> 00:23:15,000
Speaker 1: irs right because I am, because I'm not working anymore,

521
00:23:15,119 --> 00:23:16,720
Speaker 1: and that is often a great time. Makes me think

522
00:23:16,720 --> 00:23:19,560
Speaker 1: of that conversation with Cody Garrett that's worth listening to

523
00:23:19,760 --> 00:23:22,760
Speaker 1: as well, talking about when you turn money that you've

524
00:23:23,040 --> 00:23:26,159
Speaker 1: invested from traditional into ROTH. I think it's really important

525
00:23:26,160 --> 00:23:28,280
Speaker 1: to think through that so you can pay less tax

526
00:23:28,400 --> 00:23:32,200
Speaker 1: overall on those dollars over time. We should also mention

527
00:23:32,520 --> 00:23:34,919
Speaker 1: that that so much depends on your current tax bracket

528
00:23:34,960 --> 00:23:38,880
Speaker 1: and your likely tax bracket in retirement, because ROTH isn't

529
00:23:38,920 --> 00:23:40,919
Speaker 1: always a slam dunk, especially on the four to one

530
00:23:40,960 --> 00:23:43,560
Speaker 1: K side. I think the ROTH ira, if your income allows,

531
00:23:44,320 --> 00:23:46,920
Speaker 1: makes sense for almost everybody pretty much all the time.

532
00:23:46,960 --> 00:23:49,119
Speaker 1: Roth iras are great, but if you think your income

533
00:23:49,200 --> 00:23:51,159
Speaker 1: is going to increase quite a bit, I think it

534
00:23:51,200 --> 00:23:54,280
Speaker 1: sways things in favor of the ROTH. Even more so

535
00:23:54,600 --> 00:23:56,439
Speaker 1: if you're like, hey, I'm making seventy grand now, but

536
00:23:56,520 --> 00:23:59,200
Speaker 1: I see this path, I'm probably going to be increasing

537
00:23:59,240 --> 00:24:03,159
Speaker 1: my income significantly. That makes like time of the essence

538
00:24:03,200 --> 00:24:05,480
Speaker 1: to get money into the ROTH right as you know,

539
00:24:05,560 --> 00:24:07,320
Speaker 1: as many dollars as you can get into the roth

540
00:24:08,200 --> 00:24:11,600
Speaker 1: Roth vehicles. Now, if your income is going to go up,

541
00:24:12,040 --> 00:24:15,439
Speaker 1: then I think it's a beautiful thing, a valiant attempt

542
00:24:15,560 --> 00:24:17,200
Speaker 1: to try to get as much as you can. And

543
00:24:17,240 --> 00:24:19,639
Speaker 1: if you think your income is going to decline, like

544
00:24:19,720 --> 00:24:22,040
Speaker 1: let's say you are going to retire soon and it's

545
00:24:22,040 --> 00:24:23,680
Speaker 1: going to go down in a big way, well does

546
00:24:23,680 --> 00:24:26,399
Speaker 1: the opposite, right, I think it incentivizes putting money into

547
00:24:26,440 --> 00:24:31,600
Speaker 1: traditional vehicles, traditional formal k, traditional ira. And don't forget

548
00:24:31,960 --> 00:24:33,879
Speaker 1: that once you reach the age of fifty, you're going

549
00:24:33,920 --> 00:24:36,879
Speaker 1: to be eligible for catch up contributions. This means you

550
00:24:36,920 --> 00:24:39,359
Speaker 1: can contribute an extra one thousand dollars straight into your

551
00:24:39,440 --> 00:24:41,920
Speaker 1: roth ira at that point in time into and you

552
00:24:41,960 --> 00:24:44,120
Speaker 1: can put extra into the four one K or Wroth

553
00:24:44,160 --> 00:24:45,919
Speaker 1: four O one k if you find you have that available.

554
00:24:46,240 --> 00:24:47,360
Speaker 1: So take note of that.

555
00:24:47,800 --> 00:24:49,919
Speaker 2: The biggies you're seeing the viggies old. I don't know

556
00:24:49,880 --> 00:24:50,480
Speaker 2: how old she is.

557
00:24:50,520 --> 00:24:52,439
Speaker 1: I know I'm old. I know I'm getting closer to that.

558
00:24:52,880 --> 00:24:55,640
Speaker 2: Jill's looking at it, He's like, oh, catch up contributions, baby,

559
00:24:55,720 --> 00:24:59,080
Speaker 2: that's the only sexy thing about turning fifty in my opinion,

560
00:24:59,320 --> 00:25:00,679
Speaker 2: right is or I don't know.

561
00:25:00,720 --> 00:25:02,440
Speaker 1: I think actually, I think there's plenty of great things.

562
00:25:02,400 --> 00:25:03,080
Speaker 2: At fifty.

563
00:25:03,160 --> 00:25:06,720
Speaker 1: I'm actually even more great gray hair in the mustache.

564
00:25:06,720 --> 00:25:09,800
Speaker 1: Oh yeah, it's coming. But yeah, being forty one has

565
00:25:09,840 --> 00:25:13,920
Speaker 1: been surprisingly pleasant, and so I actually am not I'm

566
00:25:13,960 --> 00:25:15,919
Speaker 1: not nervous about aging, And I guess the last thing

567
00:25:15,920 --> 00:25:18,080
Speaker 1: I would suggest for VICKI is to not forget about

568
00:25:18,119 --> 00:25:21,119
Speaker 1: taxbile brokerage accounts because if you're like, oh man, they

569
00:25:21,119 --> 00:25:24,320
Speaker 1: don't offer the Wroth por one K. Well, taxbile brokerage

570
00:25:24,320 --> 00:25:26,640
Speaker 1: accounts are another great way to invest. Yes, you're going

571
00:25:26,680 --> 00:25:29,560
Speaker 1: to pay tax on the gains right and you're not

572
00:25:29,600 --> 00:25:32,840
Speaker 1: getting the same tax break that you are for contributing

573
00:25:32,960 --> 00:25:38,000
Speaker 1: to a traditional account right now or a WROTH account

574
00:25:38,160 --> 00:25:40,120
Speaker 1: in the future where you don't pay tax on the earnings.

575
00:25:40,520 --> 00:25:42,640
Speaker 1: But that's still a great account. If you have more

576
00:25:42,640 --> 00:25:44,600
Speaker 1: money you want to invest and you don't have access

577
00:25:44,800 --> 00:25:47,000
Speaker 1: to some of these other great accounts, or you're kind

578
00:25:47,000 --> 00:25:48,400
Speaker 1: of capped essentially.

579
00:25:48,240 --> 00:25:51,399
Speaker 2: By the contribution limits, yeah, yeah, you'd be artificially capped

580
00:25:51,520 --> 00:25:53,520
Speaker 2: if you were to have stopped investing at that point,

581
00:25:53,560 --> 00:25:55,879
Speaker 2: as opposed to saying, oh, I'll just invest like a

582
00:25:55,920 --> 00:25:59,560
Speaker 2: normal person in a less tax advantage way. Joel let's

583
00:25:59,600 --> 00:26:02,040
Speaker 2: now hears from another listener, this is a listener who

584
00:26:02,200 --> 00:26:04,760
Speaker 2: doesn't want to go all in with VU. He doesn't

585
00:26:04,800 --> 00:26:06,840
Speaker 2: want to go with an S and p ETF all

586
00:26:06,880 --> 00:26:09,240
Speaker 2: the way. He's looking to diversify. This is a question

587
00:26:09,280 --> 00:26:11,840
Speaker 2: from listener Steve, Hey, Matt and Joel.

588
00:26:12,080 --> 00:26:14,119
Speaker 5: My wife and I are currently in money gear seven,

589
00:26:14,359 --> 00:26:17,159
Speaker 5: and assuming nothing changes in my current business, we have

590
00:26:17,320 --> 00:26:20,640
Speaker 5: already reached coast FI. We both max out our four

591
00:26:20,640 --> 00:26:23,320
Speaker 5: oh one ks and rath I rays on January first

592
00:26:23,359 --> 00:26:26,240
Speaker 5: each year, and we dollar cost average into a brokerage

593
00:26:26,240 --> 00:26:29,520
Speaker 5: account every month. So if nothing changes, we should easily

594
00:26:29,560 --> 00:26:33,280
Speaker 5: be fully fired in five to ten years. I'm currently

595
00:26:33,359 --> 00:26:35,840
Speaker 5: forty five and own my own business, but I'm guessing

596
00:26:35,880 --> 00:26:38,680
Speaker 5: I have four to five years tops before AI puts

597
00:26:38,760 --> 00:26:41,440
Speaker 5: me out of a job, forcing me into FI. Whether

598
00:26:41,480 --> 00:26:43,800
Speaker 5: I'm ready or not. It's not the worst thing, but

599
00:26:43,840 --> 00:26:46,040
Speaker 5: I'd hate to have to start drawing down funds to

600
00:26:46,080 --> 00:26:49,000
Speaker 5: live off of if we're in a recession. My plan

601
00:26:49,119 --> 00:26:52,320
Speaker 5: thus far has always been to invest solely in VT SACHS,

602
00:26:52,400 --> 00:26:55,960
Speaker 5: which is a total stock market fund, since I theoretically

603
00:26:56,040 --> 00:26:58,480
Speaker 5: won't need the funds for at least a decade. But

604
00:26:58,680 --> 00:27:01,080
Speaker 5: now that I see the strong potent being forced into

605
00:27:01,119 --> 00:27:04,560
Speaker 5: retirement early by AI, I'm wondering if I shouldn't be

606
00:27:04,600 --> 00:27:07,960
Speaker 5: a bit more conservative. On top of this, I'm increasingly

607
00:27:08,000 --> 00:27:10,359
Speaker 5: concerned that we're in an AI bubble, with much of

608
00:27:10,400 --> 00:27:12,760
Speaker 5: the gains in the market tied to those AI companies.

609
00:27:13,160 --> 00:27:15,600
Speaker 5: So if AI keeps growing, it puts me out of work.

610
00:27:15,760 --> 00:27:18,080
Speaker 5: But if it's actually all smoke in the bubble bursts,

611
00:27:18,320 --> 00:27:21,880
Speaker 5: it cuts into my portfolio. So my question is, would

612
00:27:21,880 --> 00:27:25,399
Speaker 5: it makes sense to start shifting future stock purchases into

613
00:27:25,440 --> 00:27:29,520
Speaker 5: something more like Vanguard's Value Index Fund. When I look

614
00:27:29,520 --> 00:27:32,840
Speaker 5: at the holdings, vt SACHS is thirty eight percent tech,

615
00:27:32,920 --> 00:27:37,480
Speaker 5: where VVIAX is only seven point five percent tech, so

616
00:27:37,600 --> 00:27:40,760
Speaker 5: much lower on the tech. My thinking is this would

617
00:27:40,840 --> 00:27:43,920
Speaker 5: keep me aggressively in the market, but would start diversifying

618
00:27:43,920 --> 00:27:47,800
Speaker 5: my portfolio away from being so tech heavy. Furthermore, I

619
00:27:48,000 --> 00:27:50,560
Speaker 5: keep losing faith in the future stability of the US

620
00:27:50,600 --> 00:27:54,440
Speaker 5: for all sorts of reasons, so I'm also considering diversifying

621
00:27:54,440 --> 00:27:59,080
Speaker 5: a percentage into Vanguard's Total International Stock Index to protect

622
00:27:59,080 --> 00:28:02,960
Speaker 5: against the putotential of future US in stability. I get

623
00:28:02,960 --> 00:28:05,560
Speaker 5: that this all sounds like timing the market and it

624
00:28:05,680 --> 00:28:09,520
Speaker 5: complicates things way beyond just dumping everything into VT sacks.

625
00:28:10,080 --> 00:28:12,720
Speaker 5: But being at cost FI, I'm willing to trade some

626
00:28:12,840 --> 00:28:15,240
Speaker 5: of that upside for a bit more peace of mind.

627
00:28:15,960 --> 00:28:19,280
Speaker 5: All that being said, would shifting to something closer to

628
00:28:19,560 --> 00:28:22,840
Speaker 5: fifty percent total stock market, twenty five percent growth, twenty

629
00:28:22,840 --> 00:28:26,760
Speaker 5: five percent international makes sense in my situation? Or am

630
00:28:26,800 --> 00:28:29,439
Speaker 5: I just overthinking things way more than I need to?

631
00:28:29,840 --> 00:28:32,600
Speaker 5: Thanks guys, Oh Steve.

632
00:28:32,600 --> 00:28:33,359
Speaker 2: Oh Steve.

633
00:28:33,480 --> 00:28:35,520
Speaker 1: Do you think he's overthinking it? I don't think he's

634
00:28:35,560 --> 00:28:37,440
Speaker 1: overthinking it. I think he's put a lot of thought

635
00:28:37,440 --> 00:28:40,640
Speaker 1: into this, and I think it's admirable that he's considering

636
00:28:41,520 --> 00:28:45,440
Speaker 1: not just doom and gloom headlines about what AI could

637
00:28:45,480 --> 00:28:48,240
Speaker 1: do to the job market or will do to specific sectors,

638
00:28:48,640 --> 00:28:54,920
Speaker 1: but he's really thinking through kind of long term ramifications

639
00:28:54,960 --> 00:28:58,400
Speaker 1: of what it means for his particular job, his overall portfolio.

640
00:28:58,400 --> 00:29:00,920
Speaker 1: And this is not a knee reaction like when he

641
00:29:00,960 --> 00:29:03,320
Speaker 1: talked when he mentioned not wanting the time to market.

642
00:29:03,640 --> 00:29:04,800
Speaker 1: That's not the vibe I get.

643
00:29:04,880 --> 00:29:07,240
Speaker 2: No, this is this isn't a timing thing. But I

644
00:29:07,280 --> 00:29:09,719
Speaker 2: will say I there is a part of this very

645
00:29:09,720 --> 00:29:12,240
Speaker 2: small part of me that does think he's over indexing

646
00:29:12,320 --> 00:29:14,360
Speaker 2: the whole AI thing because of the fact that it

647
00:29:14,480 --> 00:29:18,200
Speaker 2: is going to impact him specifically with his ability to

648
00:29:18,240 --> 00:29:20,960
Speaker 2: continue his business. And I totally and in some ways

649
00:29:21,000 --> 00:29:21,240
Speaker 2: you have to.

650
00:29:21,480 --> 00:29:22,920
Speaker 1: I totally feel that in some ways you have to,

651
00:29:23,080 --> 00:29:25,479
Speaker 1: because it's it's almost like owning a bunch of company

652
00:29:25,480 --> 00:29:28,560
Speaker 1: stock in the company you work for, and you're like,

653
00:29:28,600 --> 00:29:31,160
Speaker 1: you're over indexed to this thing, man. And so if

654
00:29:31,160 --> 00:29:33,480
Speaker 1: your bread and butter, if your income comes from AI,

655
00:29:33,560 --> 00:29:36,320
Speaker 1: you might want to not have as much of your

656
00:29:36,320 --> 00:29:40,120
Speaker 1: investment portfolio tied up in artificial intelligence. So I think

657
00:29:40,160 --> 00:29:42,640
Speaker 1: that is also another factor on the table. I love

658
00:29:42,680 --> 00:29:44,760
Speaker 1: this question. And by the way, Steve, I'm not sure

659
00:29:44,760 --> 00:29:46,520
Speaker 1: if you had a chance to listen to my interview

660
00:29:46,520 --> 00:29:49,240
Speaker 1: with Vanguard's Joe Davis that came out recently, I think

661
00:29:49,240 --> 00:29:52,560
Speaker 1: it would be particularly helpful for you. He's put a

662
00:29:52,560 --> 00:29:56,320
Speaker 1: lot of thought and methodology into what happens if AI

663
00:29:56,920 --> 00:30:00,160
Speaker 1: crushes or if it's kind of a lackluster and it

664
00:30:00,160 --> 00:30:04,360
Speaker 1: doesn't really do everything that Sam Altman and those bros.

665
00:30:04,440 --> 00:30:07,160
Speaker 1: Are saying it's going to do. He also factored in

666
00:30:07,240 --> 00:30:11,120
Speaker 1: other major trends into his analysis, and so I get

667
00:30:11,440 --> 00:30:13,640
Speaker 1: that the bubble talk can be disconcerting, but I think

668
00:30:13,720 --> 00:30:16,880
Speaker 1: Joe's work can offer some encouragement to stay the course,

669
00:30:17,320 --> 00:30:19,920
Speaker 1: which doesn't mean we don't think you should make any changes,

670
00:30:20,360 --> 00:30:22,880
Speaker 1: but I do think it at least provides h And

671
00:30:23,240 --> 00:30:25,160
Speaker 1: by the way, email me, I'll send you his book.

672
00:30:25,160 --> 00:30:27,760
Speaker 1: I've got an extra copy if you want it. Yeah,

673
00:30:27,880 --> 00:30:30,600
Speaker 1: coming into view. Yeah, coming entitle of the book. For

674
00:30:30,600 --> 00:30:33,280
Speaker 1: everyone else who we will not send an extra copy to,

675
00:30:33,520 --> 00:30:36,520
Speaker 1: only sending one to Steve Females, just email us, we'll

676
00:30:36,520 --> 00:30:39,720
Speaker 1: hook you up. But yeah, I think that that's it

677
00:30:39,800 --> 00:30:42,320
Speaker 1: was just like an important conversation because I think it's

678
00:30:42,320 --> 00:30:43,680
Speaker 1: on the minds of a lot of people, like how

679
00:30:43,800 --> 00:30:47,320
Speaker 1: is AI going to impact not just my profession potentially,

680
00:30:47,320 --> 00:30:49,880
Speaker 1: but also like the uh, the investments that I hold

681
00:30:49,880 --> 00:30:50,240
Speaker 1: as well.

682
00:30:50,320 --> 00:30:52,560
Speaker 2: Yeah, yeah, and Steve, he's in money gear seven. But

683
00:30:52,600 --> 00:30:55,760
Speaker 2: that doesn't mean that you are fully financially independent or

684
00:30:55,800 --> 00:30:58,880
Speaker 2: even that you want to quit working. Right, doesn't sound

685
00:30:58,880 --> 00:31:00,560
Speaker 2: like you have any real debt. That's what you down

686
00:31:00,920 --> 00:31:03,640
Speaker 2: You've been doing a really good job investing as well, right,

687
00:31:03,720 --> 00:31:05,719
Speaker 2: Like you are fully funding your accounts at the beginning

688
00:31:05,760 --> 00:31:07,520
Speaker 2: of the year, so you are paying attention to.

689
00:31:08,360 --> 00:31:10,160
Speaker 1: Three out of four years. He is a man after

690
00:31:10,200 --> 00:31:10,760
Speaker 1: your own harm.

691
00:31:10,840 --> 00:31:11,160
Speaker 2: My gosh.

692
00:31:11,200 --> 00:31:13,600
Speaker 1: In that regard, I love that you love a January

693
00:31:13,680 --> 00:31:15,000
Speaker 1: first full fund, pull.

694
00:31:14,840 --> 00:31:17,360
Speaker 2: The trigger, make it happen. Yeah, being in that position

695
00:31:17,480 --> 00:31:19,440
Speaker 2: is going to give you a lot of cushion and flexibility.

696
00:31:19,440 --> 00:31:23,560
Speaker 2: But still, retirement isn't always something that we choose to do, right,

697
00:31:24,040 --> 00:31:26,520
Speaker 2: And my guess is that you could still use some

698
00:31:26,560 --> 00:31:29,040
Speaker 2: of your skills in other ways if AI were to

699
00:31:29,360 --> 00:31:31,560
Speaker 2: crush your small business. But that being said, you may

700
00:31:31,600 --> 00:31:33,520
Speaker 2: not want to do those things, and you may not

701
00:31:33,680 --> 00:31:35,720
Speaker 2: have to if you've built up a large enough nest

702
00:31:35,760 --> 00:31:38,160
Speaker 2: egg and it's well diversified.

703
00:31:38,240 --> 00:31:38,440
Speaker 1: Yeah.

704
00:31:38,480 --> 00:31:40,600
Speaker 2: Steve kind of points to the fact that he's kind

705
00:31:40,640 --> 00:31:43,520
Speaker 2: of in this weird situation where like AI is bad

706
00:31:43,560 --> 00:31:45,880
Speaker 2: for business, but it's good for good for portfolio. As

707
00:31:45,880 --> 00:31:47,640
Speaker 2: he's looking at his nest egg, I kind of think

708
00:31:47,680 --> 00:31:49,680
Speaker 2: he's in the perfect position, right, because like, you are

709
00:31:49,720 --> 00:31:54,640
Speaker 2: perfectly hedged to a certain extent, because you're diversified in

710
00:31:54,640 --> 00:31:56,920
Speaker 2: that way at least, because yeah, if you know you're

711
00:31:57,200 --> 00:32:00,480
Speaker 2: he's worried about the portion of his overall PORTFOLI being

712
00:32:00,480 --> 00:32:02,880
Speaker 2: in tech and if it takes off, well, guess what,

713
00:32:03,240 --> 00:32:05,959
Speaker 2: you can't afford to retire early. But if it doesn't

714
00:32:06,120 --> 00:32:08,520
Speaker 2: and it does pop, turns out you're in business for

715
00:32:08,560 --> 00:32:09,520
Speaker 2: another ten twenty years.

716
00:32:09,560 --> 00:32:11,720
Speaker 1: Perhaps no, But I think that's what he's saying too, though,

717
00:32:11,840 --> 00:32:14,640
Speaker 1: is like, actually, if the bubble bursts, I'm impacted. He

718
00:32:14,720 --> 00:32:16,920
Speaker 1: thinks maybe, yeah, maybe you're right, Maybe maybe that keeps

719
00:32:16,960 --> 00:32:19,360
Speaker 1: his business around longer. Yeah, but maybe it doesn't.

720
00:32:19,360 --> 00:32:22,720
Speaker 2: I think he said it as like a negative in that, like, well,

721
00:32:22,760 --> 00:32:25,600
Speaker 2: it's just an awkward position. But actually I sort of

722
00:32:25,600 --> 00:32:28,400
Speaker 2: see that as a good thing because if it does well, well,

723
00:32:28,400 --> 00:32:30,200
Speaker 2: you got a little bit of that. If it does poorly, okay,

724
00:32:30,240 --> 00:32:31,560
Speaker 2: well you got a little bit of that as well.

725
00:32:31,600 --> 00:32:34,040
Speaker 2: That's that might be a good point. But the hardest

726
00:32:34,080 --> 00:32:38,840
Speaker 2: Efs question is about his portfolio allocation and VT sacks.

727
00:32:39,800 --> 00:32:41,520
Speaker 2: The VT sacks and chill can be kind of a

728
00:32:41,520 --> 00:32:43,960
Speaker 2: great strategy for a lot of investors. VT sacks. By

729
00:32:44,000 --> 00:32:45,400
Speaker 2: the way, if you're listening to you're like, what is that?

730
00:32:45,680 --> 00:32:49,280
Speaker 2: It is a Vanguard ETF Total stock market ETF, and

731
00:32:49,640 --> 00:32:53,800
Speaker 2: it is incredibly inexpensive, and so that is like one

732
00:32:53,800 --> 00:32:58,080
Speaker 2: of the funds that's highly recommended. Matt, your equivalent you, oh,

733
00:32:58,200 --> 00:33:01,160
Speaker 2: that's the mutual fund. The ETF is VU right, Well,

734
00:33:01,240 --> 00:33:04,160
Speaker 2: VU is the SMP okay, so then VT I VTI

735
00:33:04,240 --> 00:33:07,880
Speaker 2: that's right, so bt total Vanguard's total stock market ETF.

736
00:33:07,960 --> 00:33:11,640
Speaker 1: So BTI is the ETF version of VT SACKS. So

737
00:33:11,680 --> 00:33:15,120
Speaker 1: that simplicity is crucial. It's it's certainly not the right

738
00:33:15,120 --> 00:33:15,960
Speaker 1: mix for everyone.

739
00:33:16,120 --> 00:33:16,239
Speaker 2: Right.

740
00:33:16,280 --> 00:33:20,080
Speaker 1: Your timeline, your individual investor timeline, is crucial. And the

741
00:33:20,120 --> 00:33:23,600
Speaker 1: reality is that that Steve might he might need to

742
00:33:23,600 --> 00:33:26,120
Speaker 1: start tapping those funds in half a decade. So I

743
00:33:26,240 --> 00:33:29,120
Speaker 1: lean here towards Steve's line of thinking. Matt right, He's

744
00:33:29,280 --> 00:33:31,840
Speaker 1: he's not making this knee jerk decision based on headlines.

745
00:33:31,960 --> 00:33:35,320
Speaker 1: His risk profile truly is changing, and he is getting

746
00:33:35,320 --> 00:33:38,080
Speaker 1: closer to the wealth preservation stage of his life.

747
00:33:38,280 --> 00:33:40,040
Speaker 2: That's a kind way of saying he's getting older.

748
00:33:40,720 --> 00:33:43,160
Speaker 1: Well that, but he's also much younger than most people

749
00:33:43,200 --> 00:33:45,800
Speaker 1: are going to be tapping their retirement funds, because it

750
00:33:45,800 --> 00:33:48,920
Speaker 1: doesn't sound like he's anywhere close to traditional retirement age.

751
00:33:48,960 --> 00:33:52,200
Speaker 1: He is just getting closer to saying I'm financially independent

752
00:33:52,240 --> 00:33:54,600
Speaker 1: and I might not be working anymore. And because of that,

753
00:33:55,480 --> 00:33:57,960
Speaker 1: he's going to want to stay heavily weighted towards stock

754
00:33:58,000 --> 00:34:00,920
Speaker 1: still because he is young, but now being as tech

755
00:34:01,000 --> 00:34:04,280
Speaker 1: and as US centric would de risk things for him,

756
00:34:04,600 --> 00:34:07,200
Speaker 1: given kind of where things stand in his personal situation.

757
00:34:07,360 --> 00:34:09,480
Speaker 2: Yeah, not being quite as exposed. One of the other

758
00:34:09,520 --> 00:34:13,120
Speaker 2: things that Steve mentioned was not selling his current holdings

759
00:34:13,160 --> 00:34:17,319
Speaker 2: but buying those other funds with new investment dollars, which

760
00:34:17,320 --> 00:34:19,839
Speaker 2: I think is a really smart way to rebalance. That's

761
00:34:19,840 --> 00:34:22,400
Speaker 2: actually something that Joe mentioned in that interview, Joe Joel

762
00:34:22,440 --> 00:34:25,840
Speaker 2: when you talked with him, that it's like slowly gently

763
00:34:25,920 --> 00:34:28,960
Speaker 2: moving the rudder as opposed to like jerking the wheel

764
00:34:29,040 --> 00:34:31,320
Speaker 2: to one side. In the new fishtail crash.

765
00:34:31,360 --> 00:34:32,960
Speaker 1: A lot of people want to go like sell positions

766
00:34:32,960 --> 00:34:35,680
Speaker 1: and buy positions, and Joe's thing was like, just he's

767
00:34:35,719 --> 00:34:38,520
Speaker 1: into it. Slowly buy the new position, and you'll you'll

768
00:34:38,640 --> 00:34:39,480
Speaker 1: rebalance over.

769
00:34:39,360 --> 00:34:42,759
Speaker 2: Time, exactly. Yeah, So increasing exposure every month with those

770
00:34:42,800 --> 00:34:45,839
Speaker 2: new investments means that over the next few years you're

771
00:34:45,840 --> 00:34:48,400
Speaker 2: going to be changing your investment mix in a meaningful

772
00:34:48,400 --> 00:34:52,040
Speaker 2: way without some of those substantial changes. Now that actually

773
00:34:52,080 --> 00:34:55,319
Speaker 2: could be more headline driven, perhaps with it being more

774
00:34:55,360 --> 00:34:56,000
Speaker 2: in than news lately.

775
00:34:56,120 --> 00:34:58,560
Speaker 1: Yeah, and Steve, he's still looking at low cost Vanguard funds,

776
00:34:58,600 --> 00:35:02,160
Speaker 1: which is brilliant. And you know he mentioned he's experiencing

777
00:35:02,280 --> 00:35:05,879
Speaker 1: less growth by potentially making these changes. That might be true,

778
00:35:05,880 --> 00:35:09,480
Speaker 1: it might not be right, Like recent history would say

779
00:35:09,480 --> 00:35:11,920
Speaker 1: that you're stupid to opt for less tech exposure. It

780
00:35:11,920 --> 00:35:14,319
Speaker 1: would be like no, no, no. The fact that you're

781
00:35:14,360 --> 00:35:17,839
Speaker 1: not invested solely in the mag seven means you're a moron, right,

782
00:35:18,440 --> 00:35:22,279
Speaker 1: But that could change quickly, right, And it's really hard

783
00:35:22,320 --> 00:35:26,359
Speaker 1: to know when or how or if that's actually going

784
00:35:26,400 --> 00:35:28,279
Speaker 1: to come to pass. And so your goal at this

785
00:35:28,320 --> 00:35:31,560
Speaker 1: point in your money progress in your journey isn't to

786
00:35:31,719 --> 00:35:35,360
Speaker 1: maximize returns as much as possible. It's to be prepared

787
00:35:35,640 --> 00:35:36,520
Speaker 1: for upcoming changes.

788
00:35:36,560 --> 00:35:36,759
Speaker 2: Matt.

789
00:35:36,800 --> 00:35:39,319
Speaker 1: You mentioned the term hedging. It's to be hedged to

790
00:35:39,360 --> 00:35:42,040
Speaker 1: make sure that you're not exposed on the underside. You

791
00:35:42,080 --> 00:35:45,520
Speaker 1: have this soft underbelly because you didn't take into account

792
00:35:46,440 --> 00:35:51,439
Speaker 1: changes in investor sentiment that could negatively impact you if

793
00:35:51,480 --> 00:35:54,560
Speaker 1: you were all in on one on one fund and

794
00:35:54,600 --> 00:35:57,840
Speaker 1: so know what you're after make changes for that reason.

795
00:35:58,200 --> 00:35:59,880
Speaker 1: It's going to help ensure that you don't cake your

796
00:36:00,200 --> 00:36:02,439
Speaker 1: for missing out on higher returns if that's what comes

797
00:36:02,440 --> 00:36:04,000
Speaker 1: the past, because you might be like dang, I did

798
00:36:04,040 --> 00:36:07,080
Speaker 1: the wrong thing, and no, just because you didn't get

799
00:36:07,120 --> 00:36:09,480
Speaker 1: higher returns. Doesn't mean you did the wrong thing. You

800
00:36:09,560 --> 00:36:11,799
Speaker 1: kind of could have still easily done the right thing

801
00:36:12,239 --> 00:36:16,920
Speaker 1: for yourself, for your own risk tolerance given what's happening

802
00:36:16,960 --> 00:36:19,399
Speaker 1: in your life and the potential loss of your business. Yeah,

803
00:36:19,480 --> 00:36:21,920
Speaker 1: the risk tolerance part of it is super important. And

804
00:36:21,960 --> 00:36:23,600
Speaker 1: this is why this is such a personal decision. One

805
00:36:23,640 --> 00:36:26,440
Speaker 1: of the other things Joe Davis talked about in that

806
00:36:26,480 --> 00:36:27,960
Speaker 1: interview Joel that you had with them, We'll make sure

807
00:36:28,000 --> 00:36:30,359
Speaker 1: to link to that one in the show notes.

808
00:36:30,080 --> 00:36:32,800
Speaker 2: For this episode, But he talked about that thought exercise

809
00:36:32,840 --> 00:36:35,719
Speaker 2: of imagining your portfolio down thirty percent so good, which

810
00:36:35,760 --> 00:36:38,680
Speaker 2: I've never done that, And so I actually, as I

811
00:36:38,719 --> 00:36:40,480
Speaker 2: was sitting there editing, done to a cold sweat. No,

812
00:36:40,680 --> 00:36:42,960
Speaker 2: But as I was listening, as I was editing that episode,

813
00:36:43,040 --> 00:36:45,359
Speaker 2: I hopped on over to my Excel, pulled up all

814
00:36:45,360 --> 00:36:48,520
Speaker 2: my investments, and I did a times one point three

815
00:36:48,640 --> 00:36:50,799
Speaker 2: and did a one point did a thirty percent up.

816
00:36:51,080 --> 00:36:52,960
Speaker 2: And so you were like, that was the fun side

817
00:36:52,960 --> 00:36:56,200
Speaker 2: of things. What if twenty million became fourteen million. Oh,

818
00:36:56,320 --> 00:36:59,120
Speaker 2: that's the thirty percent top, you know. But he said

819
00:36:59,120 --> 00:37:02,319
Speaker 2: to do both, which was an enlightening exercise because I

820
00:37:02,480 --> 00:37:04,920
Speaker 2: was like, oh wow, holy cow, if the market does

821
00:37:04,960 --> 00:37:07,120
Speaker 2: go up in thirty percent over the next couple of years,

822
00:37:07,719 --> 00:37:09,480
Speaker 2: it would be shocking to see what that would grow to.

823
00:37:09,640 --> 00:37:11,400
Speaker 2: In a similar way, that was the fun side of it.

824
00:37:11,400 --> 00:37:14,640
Speaker 2: The not so fun, the more painful exercise that is

825
00:37:14,680 --> 00:37:17,359
Speaker 2: also probably more important is to see that drop and

826
00:37:17,400 --> 00:37:19,560
Speaker 2: to kind of feel that, to see that number within

827
00:37:19,640 --> 00:37:22,200
Speaker 2: your framework with in my case over there on Excel,

828
00:37:22,600 --> 00:37:25,480
Speaker 2: and to think, Okay, yeah, this is the price of admission.

829
00:37:25,800 --> 00:37:28,440
Speaker 2: This could very easily happen. Do I have what it

830
00:37:28,480 --> 00:37:30,840
Speaker 2: takes to see this thing out were that to happen

831
00:37:30,920 --> 00:37:32,799
Speaker 2: over the next couple years. So I think in a

832
00:37:32,800 --> 00:37:35,080
Speaker 2: similar way, whatever it takes for you to kind of

833
00:37:35,120 --> 00:37:38,160
Speaker 2: visualize yourself in that position, Steve, is what I would

834
00:37:38,160 --> 00:37:39,360
Speaker 2: recommend that will help you.

835
00:37:39,400 --> 00:37:41,400
Speaker 1: Then if it does come to pass, you're like, already

836
00:37:41,400 --> 00:37:42,680
Speaker 1: went through the mental in here before.

837
00:37:42,880 --> 00:37:45,880
Speaker 2: Exactly. Yeah, Folks talk about visualizing victory, right like, like

838
00:37:46,040 --> 00:37:48,600
Speaker 2: literally go through the steps creating new habits, right Like

839
00:37:48,640 --> 00:37:50,759
Speaker 2: a lot of times talk about Okay, imagine waking up

840
00:37:50,760 --> 00:37:52,880
Speaker 2: the next morning, imagine putting your shoes on, going for

841
00:37:52,920 --> 00:37:56,000
Speaker 2: the run. Not to make this all about you and running, Joel,

842
00:37:56,400 --> 00:37:59,439
Speaker 2: but imagine being hated the trophy or the metal after

843
00:38:00,160 --> 00:38:00,839
Speaker 2: after running your.

844
00:38:00,800 --> 00:38:03,239
Speaker 1: Parathon they do hand out obscene medal. Sometimes I hate

845
00:38:03,280 --> 00:38:03,840
Speaker 1: those medals.

846
00:38:04,080 --> 00:38:06,879
Speaker 2: I do, But I think doing some of these thought

847
00:38:06,880 --> 00:38:08,920
Speaker 2: exercises could be really beneficial.

848
00:38:08,960 --> 00:38:10,839
Speaker 1: But not just the victory one, the defeat one too.

849
00:38:10,920 --> 00:38:14,279
Speaker 1: What happens Oh yeah yeah, if like there's a market decline,

850
00:38:14,440 --> 00:38:15,120
Speaker 1: that's the.

851
00:38:15,080 --> 00:38:18,000
Speaker 2: More important one. Hopefully the fun positive one is just

852
00:38:18,040 --> 00:38:20,359
Speaker 2: for kicks and to think, oh wow, but don't count

853
00:38:20,440 --> 00:38:23,359
Speaker 2: on that, right, Like that is the if things like

854
00:38:23,400 --> 00:38:26,960
Speaker 2: you can't count on the best case scenario unfolding something

855
00:38:26,960 --> 00:38:30,640
Speaker 2: else as you are potentially getting closer to retirement, stocking

856
00:38:30,719 --> 00:38:32,800
Speaker 2: up on cash, having more cash in your savings account

857
00:38:32,960 --> 00:38:35,799
Speaker 2: so that it gives you a bit more flexibility were

858
00:38:35,840 --> 00:38:38,120
Speaker 2: you to enter into those retirement ears a little bit

859
00:38:38,120 --> 00:38:42,440
Speaker 2: sooner without having to draw down on your retirement nest

860
00:38:42,480 --> 00:38:44,840
Speaker 2: egg in a down market where you'd be hit with

861
00:38:44,880 --> 00:38:46,319
Speaker 2: that sequence of returns risk.

862
00:38:46,440 --> 00:38:51,759
Speaker 1: So maybe diversifying with those new investment dollars, stocking up

863
00:38:51,800 --> 00:38:55,759
Speaker 1: on cash over the next five years in anticipation of

864
00:38:55,800 --> 00:39:01,520
Speaker 1: this potential happening of you know, your coming obsoletely essentially

865
00:39:01,520 --> 00:39:04,560
Speaker 1: your small business, and that I think we'll give you

866
00:39:05,239 --> 00:39:09,840
Speaker 1: enough diversification from a cash and stocks perspective to whether

867
00:39:10,000 --> 00:39:13,000
Speaker 1: a storm and feel like you're doing it in the

868
00:39:13,040 --> 00:39:14,680
Speaker 1: right way. You've got plenty of time to play in here,

869
00:39:14,760 --> 00:39:16,600
Speaker 1: that's right, all right. We got more to get to, Matt,

870
00:39:16,640 --> 00:39:19,640
Speaker 1: including a retirement account. I don't know if we've ever

871
00:39:19,800 --> 00:39:22,160
Speaker 1: discussed it, if we ever talked about it on the

872
00:39:22,160 --> 00:39:24,319
Speaker 1: show before. We'll get to that question and another one

873
00:39:24,440 --> 00:39:24,960
Speaker 1: right after this.

874
00:39:32,880 --> 00:39:35,479
Speaker 2: All right, buddy, we are back from the break. Let's

875
00:39:35,520 --> 00:39:39,000
Speaker 2: now hear from a listener who is considering hopping banks.

876
00:39:40,040 --> 00:39:44,400
Speaker 6: Hey, Matt and Joel, Joel and Matt mole Jat, you

877
00:39:44,440 --> 00:39:48,320
Speaker 6: guys are awesome. My name is Jordan, a longtime listener

878
00:39:49,080 --> 00:39:51,880
Speaker 6: really since you guys debuted in twenty eighteen.

879
00:39:52,080 --> 00:39:53,600
Speaker 2: And I just have a question.

880
00:39:54,080 --> 00:39:56,400
Speaker 6: I have a high yield savings account with Ally and

881
00:39:56,440 --> 00:39:59,160
Speaker 6: the rate has shifted down from the fours into the threes,

882
00:39:59,760 --> 00:40:02,720
Speaker 6: and I was just wondering you know what your thoughts

883
00:40:02,719 --> 00:40:06,879
Speaker 6: are on moving large amounts of money into other high

884
00:40:06,920 --> 00:40:10,759
Speaker 6: old savings accounts offering better rates. You know you can

885
00:40:10,760 --> 00:40:15,080
Speaker 6: play the credit card rewards game. Do we play the

886
00:40:15,560 --> 00:40:19,440
Speaker 6: high old savings account rewards game? In terms?

887
00:40:19,480 --> 00:40:22,239
Speaker 2: Of interest in things like that? How does that work?

888
00:40:22,280 --> 00:40:23,440
Speaker 6: What are you guys thoughts on that?

889
00:40:23,800 --> 00:40:25,759
Speaker 2: All right? Thanks? Man?

890
00:40:25,800 --> 00:40:27,800
Speaker 1: What you think about our celebrity nickname?

891
00:40:27,800 --> 00:40:28,640
Speaker 2: Which one do you prefer?

892
00:40:28,800 --> 00:40:32,759
Speaker 1: Mole snow jat Snow Brandolina. That's all I can think of.

893
00:40:33,960 --> 00:40:37,120
Speaker 2: Tomcat was Tom Cruise and wire Arts have to be

894
00:40:37,120 --> 00:40:39,560
Speaker 2: so bad Key Hills that I don't know.

895
00:40:39,640 --> 00:40:40,239
Speaker 1: I'm okay with it.

896
00:40:40,280 --> 00:40:41,120
Speaker 2: I could be a way cooler.

897
00:40:41,160 --> 00:40:43,919
Speaker 1: We'll just let it die now, just cause the boys

898
00:40:44,560 --> 00:40:48,560
Speaker 1: as people do. Well, let's Jordan's question. Ally, that's one

899
00:40:48,600 --> 00:40:50,279
Speaker 1: of the best online banks. You've been with Ally for

900
00:40:50,440 --> 00:40:53,080
Speaker 1: a really really long time? Well, how long do you know?

901
00:40:53,200 --> 00:40:53,920
Speaker 1: Ten decade?

902
00:40:54,080 --> 00:40:54,319
Speaker 5: Oh?

903
00:40:54,920 --> 00:40:57,279
Speaker 2: I I might be closer to twenty years, dude. I

904
00:40:57,320 --> 00:40:59,239
Speaker 2: mean it feels like it's been forever. It feels like

905
00:40:59,280 --> 00:40:59,960
Speaker 2: I've always been without.

906
00:41:00,360 --> 00:41:03,080
Speaker 1: I'm like at the age where I underestimate how long

907
00:41:03,080 --> 00:41:05,040
Speaker 1: things have been. I'm like, wait, that was twenty years ago.

908
00:41:05,080 --> 00:41:07,480
Speaker 2: Now we're measuring things by decades again. I'm old.

909
00:41:08,719 --> 00:41:10,919
Speaker 1: But like Ally has great customer service, as you know, Matt,

910
00:41:10,920 --> 00:41:13,920
Speaker 1: They've got a great interface, extra perks like I like

911
00:41:14,000 --> 00:41:17,040
Speaker 1: the way they do savings buckets. They've got the no

912
00:41:17,160 --> 00:41:20,279
Speaker 1: penalty CDs, which we think is cool. They've got competitive

913
00:41:20,440 --> 00:41:23,360
Speaker 1: interest rates in the market. So why would you consider

914
00:41:23,520 --> 00:41:27,640
Speaker 1: leaving a bank like that, Jordan, just to get a

915
00:41:27,719 --> 00:41:29,280
Speaker 1: slightly better rate on savings.

916
00:41:29,520 --> 00:41:29,960
Speaker 2: I don't know.

917
00:41:30,400 --> 00:41:33,920
Speaker 1: I probably wouldn't make this move. I think the exception

918
00:41:34,239 --> 00:41:37,920
Speaker 1: would be if you were doing something known as soft switching,

919
00:41:38,120 --> 00:41:39,719
Speaker 1: which Matt you and I talked about recently on a

920
00:41:39,719 --> 00:41:42,640
Speaker 1: Friday flight, Like, if you're funneling a bulk of your

921
00:41:42,640 --> 00:41:45,680
Speaker 1: savings into an account that's paying more, let's say, with

922
00:41:45,719 --> 00:41:48,719
Speaker 1: like Betterment or CI who are paying some top notch

923
00:41:48,880 --> 00:41:51,719
Speaker 1: rates right now, while you're still keeping ally kind of

924
00:41:51,760 --> 00:41:54,920
Speaker 1: at the center of your personal banking orbit. I think

925
00:41:54,960 --> 00:41:57,600
Speaker 1: it can make sense. But if you play the sign

926
00:41:57,640 --> 00:41:59,879
Speaker 1: up for better Rates game on repeat and you're moving

927
00:42:00,160 --> 00:42:04,880
Speaker 1: everything over and trying to do everything under a new

928
00:42:04,960 --> 00:42:07,399
Speaker 1: bank that you you know, switching your bill pay all

929
00:42:07,400 --> 00:42:10,279
Speaker 1: that kind of stuff, boy, that sounds exhausting after a while,

930
00:42:10,280 --> 00:42:10,600
Speaker 1: doesn't it.

931
00:42:10,880 --> 00:42:13,600
Speaker 2: Sure, it depends on the stage of life that Jordan

932
00:42:13,680 --> 00:42:15,000
Speaker 2: is in. He sounds like he's got a bit more

933
00:42:15,080 --> 00:42:18,080
Speaker 2: energy though, right, And so typically when you're younger, you've

934
00:42:18,120 --> 00:42:20,000
Speaker 2: got more time on your hands and maybe less money,

935
00:42:20,360 --> 00:42:24,640
Speaker 2: and so you're no stone goes unturned when it comes

936
00:42:24,680 --> 00:42:27,040
Speaker 2: to optimizing, and max A don't on. I'm just throwing

937
00:42:27,080 --> 00:42:29,040
Speaker 2: that out there. I still remember sign up bonuses from

938
00:42:29,120 --> 00:42:31,359
Speaker 2: I would win to every single one everythingle one.

939
00:42:31,640 --> 00:42:34,160
Speaker 1: Yeah, I opened one that I would at Chase and

940
00:42:34,200 --> 00:42:36,279
Speaker 1: I had to go into a physical branch to do it,

941
00:42:36,320 --> 00:42:37,759
Speaker 1: and I think it was like three hundred bucks.

942
00:42:37,840 --> 00:42:39,279
Speaker 2: Really, what is this twenty ten?

943
00:42:39,480 --> 00:42:42,120
Speaker 1: I know it was probably, and there were all these

944
00:42:42,120 --> 00:42:44,000
Speaker 1: hoops to jump through, and I remember at the end

945
00:42:44,000 --> 00:42:46,120
Speaker 1: of the day being like that three hundred dollars was

946
00:42:46,239 --> 00:42:47,040
Speaker 1: not worth the effort.

947
00:42:47,040 --> 00:42:50,160
Speaker 2: Well, that's honestly, I think that's a good lesson to learn, Jordan, Like,

948
00:42:50,200 --> 00:42:52,240
Speaker 2: if this sounds appealing to you, give it a shot,

949
00:42:52,280 --> 00:42:55,640
Speaker 2: because this isn't like an irreversible decision. Like, give it

950
00:42:55,680 --> 00:42:57,279
Speaker 2: a shot, see how it feels, see if you think

951
00:42:57,320 --> 00:42:59,279
Speaker 2: it's worth it, especially if you're talking about like the

952
00:42:59,280 --> 00:43:01,799
Speaker 2: soft switching, like talking mont Jole, where you're putting a

953
00:43:01,800 --> 00:43:04,760
Speaker 2: portion of your money, like the portion of your emergency

954
00:43:04,760 --> 00:43:06,399
Speaker 2: fund that you know you're not going to touch. Let's

955
00:43:06,400 --> 00:43:09,360
Speaker 2: say you've got a solid six plus months worth of

956
00:43:09,400 --> 00:43:11,759
Speaker 2: living expenses. Okay, yeah, I move that over there and

957
00:43:11,800 --> 00:43:14,080
Speaker 2: then you can just learn and say, huh, was that

958
00:43:14,120 --> 00:43:17,120
Speaker 2: worth it? And if not, you can just undo it, right,

959
00:43:17,160 --> 00:43:18,959
Speaker 2: Like this is one of those two way doors where

960
00:43:18,960 --> 00:43:21,680
Speaker 2: it's easy to walk back and no harm, no foul.

961
00:43:21,680 --> 00:43:24,879
Speaker 1: If it's the soft switching, then where you have both

962
00:43:24,880 --> 00:43:28,680
Speaker 1: bank accounts are kept alive, and they're connected, you can

963
00:43:28,760 --> 00:43:31,840
Speaker 1: transfer money back and forth within a couple of days,

964
00:43:32,239 --> 00:43:34,279
Speaker 1: and so I have multiple bank accounts. If you're doing

965
00:43:34,320 --> 00:43:35,560
Speaker 1: that and you're like, this is the place where I

966
00:43:35,640 --> 00:43:37,400
Speaker 1: keep the bulk of my savings and this is the

967
00:43:37,400 --> 00:43:40,200
Speaker 1: place where I operate my day to day, great, why

968
00:43:40,239 --> 00:43:42,640
Speaker 1: not have a relationship with two banks? But really, when

969
00:43:42,680 --> 00:43:44,600
Speaker 1: it comes down to it, if you're talking about switching

970
00:43:44,680 --> 00:43:46,880
Speaker 1: all the way and abandoning ally opening up this new

971
00:43:46,880 --> 00:43:49,239
Speaker 1: bank account because they're paying half a percent more, and

972
00:43:49,320 --> 00:43:53,520
Speaker 1: let's say you've got twenty thousand dollars in savings, how

973
00:43:53,600 --> 00:43:55,840
Speaker 1: much is that actually going to move the needle? I

974
00:43:55,840 --> 00:43:57,480
Speaker 1: would want to know that before I moved all the

975
00:43:57,480 --> 00:44:01,479
Speaker 1: way over. And so yeah, that this sort of soft

976
00:44:01,520 --> 00:44:04,200
Speaker 1: switching two bank thing makes more sense to me than

977
00:44:04,239 --> 00:44:06,719
Speaker 1: going all the way in and ditching your current bank

978
00:44:06,800 --> 00:44:09,040
Speaker 1: for a new one that pays a slightly higher rate.

979
00:44:09,600 --> 00:44:11,640
Speaker 1: But yeah, I guess if you have a ton of

980
00:44:12,000 --> 00:44:14,719
Speaker 1: cash on hand, Matt, the benefit is more substantial. But

981
00:44:14,760 --> 00:44:17,799
Speaker 1: even still played the both bank game totally all right.

982
00:44:17,840 --> 00:44:20,680
Speaker 2: The Facebook question of the Week comes from Angela, and

983
00:44:20,760 --> 00:44:23,640
Speaker 2: she wrote, I frequently hear the guys extole the great

984
00:44:23,680 --> 00:44:26,760
Speaker 2: benefits of an HSA up till now, I have always

985
00:44:26,760 --> 00:44:30,799
Speaker 2: had my employer's hr A plan with open enrollment. I

986
00:44:30,840 --> 00:44:32,759
Speaker 2: was wondering the pros and the cons of the two.

987
00:44:32,960 --> 00:44:34,680
Speaker 2: Also kind of curious why I never hear Matt and

988
00:44:34,719 --> 00:44:38,560
Speaker 2: Joel reference in hr A in general. I'm a newer listener,

989
00:44:38,600 --> 00:44:41,680
Speaker 2: so I apologize if I have simply missed this discussion.

990
00:44:41,760 --> 00:44:44,560
Speaker 2: You have not missed the discussion, Angela. She also that's

991
00:44:44,600 --> 00:44:46,080
Speaker 2: something we've talked about. What she did miss is that

992
00:44:46,120 --> 00:44:49,359
Speaker 2: we go by Mole or Jack. So Angela, let's get

993
00:44:49,360 --> 00:44:52,120
Speaker 2: that right or the boys the Fellas. Yeah, no, I

994
00:44:52,160 --> 00:44:54,000
Speaker 2: will say, Angela, thank you so much for being a

995
00:44:54,040 --> 00:44:58,359
Speaker 2: new listener. And the hr why don't we mention it? Well,

996
00:44:58,400 --> 00:45:01,399
Speaker 2: it's because it's a much rarer perk than the other

997
00:45:01,480 --> 00:45:06,640
Speaker 2: main retirement accounts that get discussed frequently iras they are

998
00:45:06,680 --> 00:45:10,960
Speaker 2: fairly ubiquitous. Same thing with four one k's with HSA's

999
00:45:10,960 --> 00:45:13,799
Speaker 2: as well, but HRAs are far less common, and so

1000
00:45:14,040 --> 00:45:17,560
Speaker 2: for those who don't know, it is a health reimbursement arrangement.

1001
00:45:18,120 --> 00:45:21,279
Speaker 2: Thus again the casual nature of the arrangement. This is

1002
00:45:21,280 --> 00:45:23,880
Speaker 2: something that we've talked about, but it's a real thing. Again,

1003
00:45:24,080 --> 00:45:25,680
Speaker 2: but some companies offer this as a way to help

1004
00:45:25,719 --> 00:45:30,200
Speaker 2: employees fund healthcare expenses. And it's something that you're bought,

1005
00:45:30,280 --> 00:45:34,200
Speaker 2: like your company, they fully fund, they fully they contribute to.

1006
00:45:34,239 --> 00:45:37,520
Speaker 2: It's not something that you can do anything. Yeah, yeah,

1007
00:45:37,560 --> 00:45:39,560
Speaker 2: and it's just a betterffer you use the money. Yeah,

1008
00:45:39,600 --> 00:45:43,000
Speaker 2: that's true. Yeah, And you just submit your receipts your

1009
00:45:43,040 --> 00:45:47,000
Speaker 2: expenses to be reimbursed from this account. And it's pretty

1010
00:45:47,080 --> 00:45:50,400
Speaker 2: nice if this is something that you have at your disposal. Yeah, yeah, exactly.

1011
00:45:50,440 --> 00:45:52,200
Speaker 1: But you're right, I mean, like the reason we don't

1012
00:45:52,200 --> 00:45:54,960
Speaker 1: talk about is just because so few people have access

1013
00:45:54,960 --> 00:45:57,040
Speaker 1: to one. And I'm glad you're bringing it up because

1014
00:45:57,080 --> 00:45:59,520
Speaker 1: for people people that do, especially this time of year,

1015
00:46:00,120 --> 00:46:03,719
Speaker 1: just recognize that, Yeah, your employer might offer you free

1016
00:46:03,760 --> 00:46:06,480
Speaker 1: money for healthcare expenses you might incur and you might

1017
00:46:06,560 --> 00:46:09,120
Speaker 1: have to do less saving on your or it might

1018
00:46:09,120 --> 00:46:11,480
Speaker 1: even mean that you can contribute more to an HSA

1019
00:46:11,600 --> 00:46:14,640
Speaker 1: for future health care costs, but we'll get into that

1020
00:46:14,960 --> 00:46:17,759
Speaker 1: too here. You might not be able to do both.

1021
00:46:17,840 --> 00:46:19,800
Speaker 1: So there's really not much for you to do except

1022
00:46:19,960 --> 00:46:22,840
Speaker 1: use the funds in the HRA that your employer provides

1023
00:46:22,880 --> 00:46:26,280
Speaker 1: if you have them, because your employer owns those funds

1024
00:46:26,280 --> 00:46:27,759
Speaker 1: and if you don't use them in a given year,

1025
00:46:27,880 --> 00:46:31,360
Speaker 1: or if you leave the company, you lose access to

1026
00:46:31,440 --> 00:46:36,360
Speaker 1: those funds. So maybe you schedule an elective surgery or

1027
00:46:36,400 --> 00:46:39,760
Speaker 1: something because you realize you're not going to fully utilize

1028
00:46:39,760 --> 00:46:42,840
Speaker 1: your hr dollars if not, or you bump up a

1029
00:46:42,880 --> 00:46:46,279
Speaker 1: medical procedure into the current year to fully exhaust those

1030
00:46:46,320 --> 00:46:48,879
Speaker 1: funds when you might have waited another year. Those are

1031
00:46:48,920 --> 00:46:51,200
Speaker 1: just kind of thoughts on how you might utilize the

1032
00:46:51,320 --> 00:46:54,800
Speaker 1: HRRA to its full potential. But you kind of hinted

1033
00:46:54,880 --> 00:46:57,000
Speaker 1: at the question, Angela, can you use an HSA and

1034
00:46:57,040 --> 00:47:01,480
Speaker 1: an HRA at the same time. Potentially, you know, you

1035
00:47:01,520 --> 00:47:04,280
Speaker 1: can't have the traditional HRA we were just talking about,

1036
00:47:04,320 --> 00:47:07,640
Speaker 1: but there are other versions of the HRA, so this

1037
00:47:07,760 --> 00:47:10,960
Speaker 1: is not this has not come out without its complications.

1038
00:47:11,200 --> 00:47:14,799
Speaker 1: If you have a limited purpose HRA, you can use

1039
00:47:14,840 --> 00:47:18,160
Speaker 1: an HSA at the same time, and that's the case,

1040
00:47:18,239 --> 00:47:20,839
Speaker 1: we would say use them both. But if you have

1041
00:47:21,040 --> 00:47:25,239
Speaker 1: access to one of these, the full HR version and

1042
00:47:25,280 --> 00:47:28,840
Speaker 1: not the kind of light limited version, then you cannot

1043
00:47:28,920 --> 00:47:33,640
Speaker 1: simultaneously have both. So which one's better probably depends on

1044
00:47:33,920 --> 00:47:36,799
Speaker 1: how much your employer contributes to the HRA. But if

1045
00:47:36,800 --> 00:47:39,279
Speaker 1: you have a really generous employee orre offering a substantial

1046
00:47:40,000 --> 00:47:43,279
Speaker 1: reimbursement for you every year, that's a pretty sweet perk

1047
00:47:43,360 --> 00:47:44,840
Speaker 1: that I want to take full advantage of.

1048
00:47:45,080 --> 00:47:47,920
Speaker 2: Certainly something to keep in mind, like, especially if you're

1049
00:47:47,920 --> 00:47:50,239
Speaker 2: weighing another job, like this is a sweet perk. This

1050
00:47:50,280 --> 00:47:52,080
Speaker 2: is a sweet benefit that you have, and make sure

1051
00:47:52,200 --> 00:47:55,960
Speaker 2: to count that into the total compensation package that you're

1052
00:47:56,000 --> 00:47:56,440
Speaker 2: being offered.

1053
00:47:56,440 --> 00:47:58,520
Speaker 1: I mean, it could be five grand in free money

1054
00:47:58,560 --> 00:48:00,919
Speaker 1: towards healthcare and you're like, well, get paid seventy grand

1055
00:48:00,960 --> 00:48:02,200
Speaker 1: a year. I want to go get take this job

1056
00:48:02,239 --> 00:48:04,719
Speaker 1: to pay seventy sived. Not really, you get paid seventy five. Yes,

1057
00:48:04,840 --> 00:48:05,839
Speaker 1: exactly mentioned the match.

1058
00:48:05,880 --> 00:48:08,240
Speaker 2: And I'm not saying you should stay there at whatever

1059
00:48:08,320 --> 00:48:11,000
Speaker 2: company you're at Angela, but something considered.

1060
00:48:11,040 --> 00:48:14,879
Speaker 1: And those dollars don't get taxed either, so from by

1061
00:48:14,880 --> 00:48:16,960
Speaker 1: the employ the government doesn't tax them for the employer

1062
00:48:16,960 --> 00:48:19,360
Speaker 1: you don't get taxed for using them, so their tax

1063
00:48:19,520 --> 00:48:22,399
Speaker 1: tax free money towards healthcare expenses. All right, Matt, let's

1064
00:48:22,440 --> 00:48:25,840
Speaker 1: get back to the beer. This one that we enjoyed

1065
00:48:25,840 --> 00:48:28,400
Speaker 1: on this episode was a Vintage Jail a bourbon barrel

1066
00:48:28,480 --> 00:48:32,440
Speaker 1: aged Imperial stout by this Kirkland signature, but brewed by

1067
00:48:32,640 --> 00:48:35,440
Speaker 1: De Shoots Brewery out of Oregon, who seems like they

1068
00:48:35,480 --> 00:48:37,520
Speaker 1: Shoots teamed up and they're making a lot of beers

1069
00:48:37,600 --> 00:48:40,320
Speaker 1: for Costco's private label. Now is that where Costco? Where's

1070
00:48:40,320 --> 00:48:41,000
Speaker 1: Costco based?

1071
00:48:41,560 --> 00:48:42,720
Speaker 2: Washington? Kirkland, Washington.

1072
00:48:42,800 --> 00:48:45,520
Speaker 1: It's like right there, Yeah, they're not too far I

1073
00:48:45,560 --> 00:48:46,080
Speaker 1: guess bordering.

1074
00:48:46,239 --> 00:48:48,440
Speaker 2: Is that why it's called Kirkland SIG because it's based

1075
00:48:48,440 --> 00:48:51,160
Speaker 2: out of the same town, Kirkland, Washington. Very cool? Yeah,

1076
00:48:51,200 --> 00:48:52,680
Speaker 2: I didn't know that. You probably bet you learned that

1077
00:48:52,719 --> 00:48:55,600
Speaker 2: during that episode of Acquire. Probably I'm sure I did,

1078
00:48:55,640 --> 00:48:59,120
Speaker 2: But I have a wait. Is it called acquired or acquired? Yeah,

1079
00:48:59,160 --> 00:48:59,480
Speaker 2: that's right.

1080
00:48:59,480 --> 00:49:00,920
Speaker 1: Thinking of the bit game, I mean, it's still one

1081
00:49:00,960 --> 00:49:03,520
Speaker 1: of the best episodes, have Acquired the Costco one. Yeah,

1082
00:49:03,560 --> 00:49:05,760
Speaker 1: but one of my family members actually got the tour

1083
00:49:06,040 --> 00:49:08,680
Speaker 1: the and I was like, dude, last time I was

1084
00:49:08,680 --> 00:49:10,359
Speaker 1: in Seattle. He was telling me about his tour of

1085
00:49:10,400 --> 00:49:14,960
Speaker 1: the headquarters headquarters of Costco, and I guess it's pretty spartan,

1086
00:49:15,080 --> 00:49:17,440
Speaker 1: So it's what you would expect. You would expect that

1087
00:49:17,440 --> 00:49:17,920
Speaker 1: from Costco.

1088
00:49:18,000 --> 00:49:19,920
Speaker 2: It kind of feels like that aisle, like that that

1089
00:49:20,000 --> 00:49:22,719
Speaker 2: hallway on the way to the bathroom at Costco. That's

1090
00:49:22,760 --> 00:49:25,160
Speaker 2: just kind of like, that's exactly right. Does anybody ever

1091
00:49:25,200 --> 00:49:27,480
Speaker 2: walk over here right and you see the employee break

1092
00:49:27,560 --> 00:49:29,360
Speaker 2: room over there off to your left. Yeah, it just

1093
00:49:29,360 --> 00:49:31,239
Speaker 2: looks like an extension of the warehouse. I know.

1094
00:49:31,800 --> 00:49:34,840
Speaker 1: So I'm a little jealous though, And I don't know.

1095
00:49:34,880 --> 00:49:36,719
Speaker 1: Hopefully that's funny. Someday he can give me the hook

1096
00:49:36,760 --> 00:49:38,719
Speaker 1: up and I can check out Costco HQ as well.

1097
00:49:38,760 --> 00:49:39,680
Speaker 1: But thoughts on this beer.

1098
00:49:40,040 --> 00:49:42,680
Speaker 2: It was really good man, that bourbon barrel. I mean

1099
00:49:42,680 --> 00:49:43,960
Speaker 2: that's the first thing, like we poured it and I

1100
00:49:43,960 --> 00:49:46,480
Speaker 2: gave a little sniff. You could totally pick up on

1101
00:49:46,520 --> 00:49:49,080
Speaker 2: that on the nose. But it wasn't overly boozy. It

1102
00:49:49,120 --> 00:49:51,719
Speaker 2: was just it was nice and oaky, which is hard

1103
00:49:51,719 --> 00:49:53,400
Speaker 2: for me to not be happy with a beer that

1104
00:49:53,440 --> 00:49:56,279
Speaker 2: doesn't have a strong oak presence. Yeah, that's like one

1105
00:49:56,280 --> 00:49:59,319
Speaker 2: of my favorite flavor profiles and any almost any beer,

1106
00:49:59,360 --> 00:50:01,439
Speaker 2: Like I love it in a stout, and I really

1107
00:50:01,480 --> 00:50:01,759
Speaker 2: like it.

1108
00:50:01,719 --> 00:50:03,840
Speaker 1: In sours as well, So I'd say it's hard for

1109
00:50:03,840 --> 00:50:05,319
Speaker 1: you not to be happy in general, my friend.

1110
00:50:05,440 --> 00:50:08,239
Speaker 2: Oh yeah, yeah, might fairly positive guy, I think so okay, Yeah,

1111
00:50:08,520 --> 00:50:12,080
Speaker 2: that can be moody sometimes you've seen me be moody

1112
00:50:12,160 --> 00:50:13,640
Speaker 2: before you What do you think about it.

1113
00:50:13,560 --> 00:50:16,760
Speaker 1: Though, Dude, I loved this beer, And to be honest,

1114
00:50:17,160 --> 00:50:18,960
Speaker 1: like I said, I have not enjoyed many of the

1115
00:50:19,040 --> 00:50:21,880
Speaker 1: Kirklet signature beers in the past. This beer was excellent, Like,

1116
00:50:21,920 --> 00:50:26,600
Speaker 1: it was truly fantastic. And although I would maybe quibble

1117
00:50:26,680 --> 00:50:29,800
Speaker 1: with the definition of this as an Imperial stout, it

1118
00:50:29,800 --> 00:50:30,400
Speaker 1: it wasn't.

1119
00:50:30,760 --> 00:50:31,760
Speaker 2: Yeah, it wasn't a stout.

1120
00:50:31,840 --> 00:50:34,480
Speaker 1: Territory was gotchail or quad kind of vibes going on,

1121
00:50:34,520 --> 00:50:37,400
Speaker 1: some of those dark fruit vibes maybe like fig and

1122
00:50:37,480 --> 00:50:41,840
Speaker 1: raisin notes. But this is so high quality and it

1123
00:50:41,880 --> 00:50:44,120
Speaker 1: had kind of some of those unique holiday spices going on,

1124
00:50:44,120 --> 00:50:47,480
Speaker 1: almost like the Saint Bernardist Christmas ale, Yeah, which is

1125
00:50:47,480 --> 00:50:49,400
Speaker 1: one of my you're going to say that favorite beers

1126
00:50:49,440 --> 00:50:50,959
Speaker 1: to drink this time of year, And I was totally

1127
00:50:50,960 --> 00:50:53,120
Speaker 1: getting you in the mood for Thanksgiving coming up later

1128
00:50:53,160 --> 00:50:56,200
Speaker 1: this week. I was like, this is the perfect beer

1129
00:50:56,200 --> 00:50:57,920
Speaker 1: to drink this this time of year. So if you

1130
00:50:58,080 --> 00:51:01,240
Speaker 1: totally agree, can find the vintag jail your local costco

1131
00:51:01,800 --> 00:51:03,320
Speaker 1: buy it, maybe buy a couple.

1132
00:51:03,440 --> 00:51:05,160
Speaker 2: Have you ever gotten it in the past? Have you

1133
00:51:05,239 --> 00:51:06,480
Speaker 2: picked it up? I want to say we have.

1134
00:51:07,000 --> 00:51:08,960
Speaker 1: Maybe I'm trying to think they you should carry chame

1135
00:51:09,160 --> 00:51:11,560
Speaker 1: blue and oh, that's what I'm thinking of. That's what

1136
00:51:11,560 --> 00:51:16,000
Speaker 1: I would because that similar kind of you know, fall partnership.

1137
00:51:16,000 --> 00:51:17,359
Speaker 2: I wonder if this is the first year that they've

1138
00:51:17,360 --> 00:51:19,480
Speaker 2: done this partnership with the shoots, but I.

1139
00:51:19,400 --> 00:51:19,840
Speaker 1: Think it is.

1140
00:51:20,000 --> 00:51:22,600
Speaker 2: I'm totally with you. Like it's labeled a stout, but

1141
00:51:22,680 --> 00:51:25,840
Speaker 2: it is not super thick and stoudy, like it is

1142
00:51:25,920 --> 00:51:28,120
Speaker 2: lighter in body, which, honestly, this time of year, I'm

1143
00:51:28,160 --> 00:51:30,600
Speaker 2: looking for a little bit like I want that darker

1144
00:51:30,680 --> 00:51:34,440
Speaker 2: flavor and those notes, those spicy notes, but without you know,

1145
00:51:34,480 --> 00:51:37,000
Speaker 2: you don't want to get completely filled up as people

1146
00:51:37,000 --> 00:51:40,960
Speaker 2: are passing around pumpkin and pecan pie. Sure, so to me,

1147
00:51:41,080 --> 00:51:43,680
Speaker 2: this was it's this is perfect, better than I thought

1148
00:51:43,680 --> 00:51:46,960
Speaker 2: it would be, and well worth buying. Pleasantly surprised. I

1149
00:51:47,000 --> 00:51:48,880
Speaker 2: will actually next time I go to pe Costco, I'm

1150
00:51:48,920 --> 00:51:50,360
Speaker 2: gonna look for this and pick up a couple bottles

1151
00:51:50,840 --> 00:51:51,680
Speaker 2: the holiday season.

1152
00:51:51,840 --> 00:51:54,560
Speaker 1: The value excellent too nice, So all right, that's gonna

1153
00:51:54,560 --> 00:51:57,200
Speaker 1: do it for this one. We appreciate you listening. You

1154
00:51:57,200 --> 00:52:00,480
Speaker 1: can find links to some of the resources mentioned up

1155
00:52:00,520 --> 00:52:03,600
Speaker 1: on our website at howamoney dot com. There's also literally

1156
00:52:03,640 --> 00:52:05,480
Speaker 1: a resources page on our site. So I feel like

1157
00:52:05,480 --> 00:52:07,719
Speaker 1: I heard the Boys mentioned something. I've heard mentioned that

1158
00:52:07,760 --> 00:52:10,200
Speaker 1: a couple of times. It probably lives on the resource page.

1159
00:52:10,239 --> 00:52:14,360
Speaker 1: I heard you redact the Boys, the Boys Matt or

1160
00:52:14,440 --> 00:52:17,520
Speaker 1: no what jat and Mole, So yeah, you can check

1161
00:52:17,520 --> 00:52:19,279
Speaker 1: that out. There's plenty of stuff, good stuff up there

1162
00:52:19,280 --> 00:52:21,520
Speaker 1: on our website at howtomoney dot com.

1163
00:52:21,520 --> 00:52:23,279
Speaker 2: That's right, buddy, But that is going to do it

1164
00:52:23,320 --> 00:52:26,680
Speaker 2: for this episode. So until next time, Best brands Out,

1165
00:52:26,760 --> 00:52:28,000
Speaker 2: Best Friends Out,