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Speaker 1: Welcome to How the Money. I'm Joel and I in

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Speaker 1: that and today we are answering your listener questions. Joel,

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Speaker 1: We've got listener questions this episode. Man, We've got five

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Speaker 1: great ones, like we always do, except for that one.

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Speaker 1: There's that one bad one. That's true. Well, we had

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Speaker 1: one bad one, but then we replaced it and kicked

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Speaker 1: it to the curb. Yeah, we're like, no, we're not

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Speaker 1: gonna take that question. But we've got several good ones here,

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Speaker 1: including one about c d S Certificates of deposits. We're

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Speaker 1: gonna talk about shopping for the best mortgage interest rates,

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Speaker 1: as well as h S as health savings accounts, whether

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Speaker 1: or not you have to use the one that is

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Speaker 1: offered by your employer. We're gonna get to that plus

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Speaker 1: two others in this episode. Man. But first, I know

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Speaker 1: you wanted to mention something. Let's talk a little bit

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Speaker 1: about buying kitchen appliances. Oh yeah, super sexy topic right here.

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Speaker 1: I did buy a new fridge for our family recently.

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Speaker 1: And yeah, the one that we were rolling with was

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Speaker 1: was pretty old, had like a broken bottom shelf. It's

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Speaker 1: one of those top and bottom, you know, freezer on

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Speaker 1: the top fridge. Fridge on the bottom. A simple fridge,

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Speaker 1: very simple, very old school, and just kind of crump

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Speaker 1: me at this point. It's it's the fridge that came

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Speaker 1: with your house. To write it is you didn't buy

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Speaker 1: this fridge. It was the house that they left there

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Speaker 1: when you purchased the home several years ago, right, and

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Speaker 1: the homeowner then probably had had the fridge for tags,

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Speaker 1: like it's probably a fifteen year old fridge, which which

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Speaker 1: is fine, it was still working. But I I saw

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Speaker 1: this sale on floor model appliances at best Buy, and

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Speaker 1: so you know, it's something that had been on Emily

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Speaker 1: and I's radar for a while, like, hey, if we

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Speaker 1: found a great deal on a new fridge, we'd do it.

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Speaker 1: I saw a Costco had this fridge was eleven hun

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Speaker 1: bucks on sale, and I was like, that's a pretty

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Speaker 1: good deal. But then best Buy had the same fridge

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Speaker 1: but floor modeled for six bucks. Dang. Yeah, So I

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Speaker 1: was like that's a really that's a really good deal,

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Speaker 1: really good deal, dude. So I had to pounce and

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Speaker 1: I took all the seats out of the two thousand

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Speaker 1: and six Mini dam or however old are minivan is,

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Speaker 1: and I drove down to best Buy mask on uh

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Speaker 1: doing my pickup, and man, it's been it's been awesome.

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Speaker 1: And I gotta say I was able to sell the

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Speaker 1: old fridge on the Facebook marketplace really easily. People are

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Speaker 1: always looking for working old fridges that are super cheap.

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Speaker 1: So really, I'm only at a pocket bucks to massively

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Speaker 1: upgrade to a brand new fridge. And I'm always down

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Speaker 1: for doing something like that. I think there's some useful

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Speaker 1: life left in that refrigerator that somebody else is going

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Speaker 1: to enjoy. But we were just completely tired of it.

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Speaker 1: We needed something, something new, and we were just waiting

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Speaker 1: for the moment where we found a deal. And and

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Speaker 1: here's why I like to do this to Matt. If

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Speaker 1: there is, uh, let's say next week, the fridge that

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Speaker 1: we currently have bites the dust, well then I'm kind

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Speaker 1: of forced to find something in a really short period

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Speaker 1: of time. Whereas if I know that I want to

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Speaker 1: upgrade that fridge, but I bide my time, I look

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Speaker 1: around and I wait for the deal, and then I

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Speaker 1: sell the working fridge that I have that I don't

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Speaker 1: want anymore, Well, I can wait to find the best

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Speaker 1: possible price. And that's what I was able to do here,

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Speaker 1: and so yeah, sometimes that's kind of how I think

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Speaker 1: about the the life cycle of an appliance is is

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Speaker 1: can I wait and find the best possible deal and

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Speaker 1: and then I'll trade out the old one? Well, yeah,

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Speaker 1: I mean, especially when it comes to something like a

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Speaker 1: fridge where there are groceries, you know, on the line. Essentially,

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Speaker 1: if your fridge craps out, you're gonna lose a lot

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Speaker 1: of money as it is with all the stuff that

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Speaker 1: you have in your fridge, all those cuts of meat

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Speaker 1: in your freezing here. I know you've got a lot

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Speaker 1: of meat in there, but yeah, I hadn't really thought

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Speaker 1: about that, to be honest, when it comes to a

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Speaker 1: fridge or freezer, Like, obviously you're gonna lose some money

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Speaker 1: when it comes to your actual groceries, but you're just

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Speaker 1: on a time crunch, Like once it does crap out,

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Speaker 1: you are going to scramble and try to see if

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Speaker 1: you can, you know, hopefully find a really good deal.

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Speaker 1: But I like your method, man. I feel that I

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Speaker 1: tend to side on the like the simplicity and ease

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Speaker 1: of use, you know, just I'm gonna keep my life

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Speaker 1: cruising along until something happens when it comes to something

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Speaker 1: like this that I don't really care about. We're happy

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Speaker 1: with our fridge and freezer at the moment, but at

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Speaker 1: the same time, it could totally bite the dust tomorrow,

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Speaker 1: and yeah, we would be in a situation where we

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Speaker 1: were scrambling and you're like, oh man, those Memorial Day

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Speaker 1: sales are over and now I'm gonna pay full price

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Speaker 1: for a fridge or something like that. Yeah, absolutely, man.

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Speaker 1: And and in plus two, like you getting that floor model.

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Speaker 1: I've only ever gotten one floor model and it was

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Speaker 1: on like a range hood. But we I mean, yeah,

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Speaker 1: it was half the cost and so that was huge.

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Speaker 1: I mean, my personal favorite is just picking up applance

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Speaker 1: is on the side of the road. But they've got

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Speaker 1: a microwave and its oaster that were curb alerts from

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Speaker 1: the side of the road. And that doesn't mean that

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Speaker 1: they were nasty, they were just thrown out. I have

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Speaker 1: no idea. Like literally, the toaster we've been using for

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Speaker 1: the past five years now, it's got four slots for toast.

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Speaker 1: The thing puts out the toast. Man. Oh, by the way,

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Speaker 1: I want to say something about transporting a fridge on

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Speaker 1: its side, which you're you're not actually supposed to transport

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Speaker 1: a fridge laying down. You can, you can't, but there's

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Speaker 1: a step that you need to take. Yeah, exactly what

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Speaker 1: we're gonna say. Ye. So, so basically, you know, it's

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Speaker 1: better to transport them upright, like in a truck with

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Speaker 1: like a safety harness, right you wanted to not fall

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Speaker 1: out of the back of ratchet straps road over, Yeah, exactly.

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Speaker 1: But because I didn't want to bother any friends with

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Speaker 1: the truck or anything like that, I was just like,

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Speaker 1: I got this van, I think I can stick it

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Speaker 1: in there. I did some research, and basically it looked

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Speaker 1: like it was okay to transport a fridge on its

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Speaker 1: back as long as you give it ample time upright

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Speaker 1: to kind of get re acclimated because of something that

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Speaker 1: happens with the condenser um the oil that drains upward

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Speaker 1: or something like that. So the fridge basically needs time

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Speaker 1: to get back to its normal state and to allow

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Speaker 1: the oil to kind of drop back down. And so, yeah,

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Speaker 1: it was only on its back for about twenty five

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Speaker 1: minutes when I was picking it up, and then I

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Speaker 1: got home turn it up right. I did not plug

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Speaker 1: it in for the first six hours that I had

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Speaker 1: at home, just to be sure, just to give it

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Speaker 1: that extra time, because I would prefer my fridges to work, right, So,

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Speaker 1: because yeah, that's just kind of something interesting I learned

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Speaker 1: googling how to transport fridges. Yeah, man, that's a great tip.

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Speaker 1: You don't want to shorten the life of your fridge.

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Speaker 1: You wanted to last another fifteen twenty years until you

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Speaker 1: sell the house that you're currently in to the next

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Speaker 1: person who's like, oh man, this fridge sucks. All right, man,

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Speaker 1: let's go ahead and kick it to the beer. This episode,

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Speaker 1: we're enjoying a pseudo Sue pale Ale. This is by

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Speaker 1: Toppling Goliath Brewing Company, sent to us by Kelsey and Iola,

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Speaker 1: and this beer is kind of related to another beer

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Speaker 1: that we've actually had on the show. So we'll get

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Speaker 1: to our thoughts on this one are tasting notes at

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Speaker 1: the end of the episode. Yeah, we sure will. But

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Speaker 1: Matt onto listener questions for anybody out there who wants

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Speaker 1: to submit a question for a future episode, but we'd

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Speaker 1: love to hear it, Just go to our website how

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Speaker 1: to money dot com slash ask Simple instructions there for

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Speaker 1: how you can submit your voice question. And the first

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Speaker 1: one we're taking on the show today is about paying

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Speaker 1: cash for a house. This is from listener Brianna. Hi,

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Speaker 1: Joelan Matt. I'm moving from California to Wisconsin to take

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Speaker 1: a job at the University of Madison. We will be

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Speaker 1: paying cash for a house, and I'm not sure how

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Speaker 1: to determine whether i should expect to cash discount and

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Speaker 1: how much that discount should be. I really feel like

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Speaker 1: I'm in over my head and I want to make

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Speaker 1: a good offer on this house. I really like it.

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Speaker 1: I think it's the perfect fit for us. I want

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Speaker 1: to get a good deal, but I also want to

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Speaker 1: be fair. The whole COVID thing has really just turned

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Speaker 1: the real estate market upside down, and I'm just not

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Speaker 1: sure what to do. And just in case you think

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Speaker 1: I'm in a better financial position than I am, you

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Speaker 1: should know that I've been a starving student for a

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Speaker 1: long time and we actually put a mortgage on our

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Speaker 1: California house so that we can pay cash for the

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Speaker 1: Wisconsin house. Thank you so much for your help. I

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Speaker 1: really appreciate your advice in your Showy Brianna, that's a

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Speaker 1: great question, and so glad that you have been able

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Speaker 1: to find the perfect house for you. Matt, this is

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Speaker 1: a great question. I think we've gotten it on the

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Speaker 1: show before about paying cash for a house. I'm sure

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Speaker 1: a lot of our listeners are like, who can pay

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Speaker 1: cash for a house? Right? That? That is something that

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Speaker 1: for the longest time didn't make any sense to me, Like,

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Speaker 1: how does anybody save up enough money to pay cash

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Speaker 1: for a house? And you know, Brianna gave us a

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Speaker 1: little insight there she's doing a cash out refi on

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Speaker 1: other home that she owns in order to be able

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Speaker 1: to pay cash for this house. So, but I think

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Speaker 1: this question brings up a lot of interesting things about

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Speaker 1: what a cash offer means and how it changes a

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Speaker 1: potential real estate transaction. Yeah, regardless of what side of

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Speaker 1: the transaction that you're on, right, And Brianna, Yeah, let's

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Speaker 1: talk about kind of like your approach here, you know,

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Speaker 1: let's talk about how you got that mortgage on your

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Speaker 1: house in California, you know, assuming you owned it out right, Like,

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Speaker 1: this is an awesome way to go about things, you know,

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Speaker 1: taking some of that equity out of that home with

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Speaker 1: a cashot reef nance is a great way to put

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Speaker 1: you in a strong position when looking for a new home.

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Speaker 1: You can you know, take your time with that cashot reef,

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Speaker 1: I secure the best rate possible and you know, then

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Speaker 1: you will be able to pounce with cash, you know,

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Speaker 1: when you find that perfect house, which it sounds like

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Speaker 1: you're doing. And so Joe, it's almost like you with

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Speaker 1: your fridge, right, like you kind of had that entire

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Speaker 1: deal lined up a little bit before you needed it,

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Speaker 1: before you had to scramble, and then you know, hopefully

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Speaker 1: find a fridge that was on sale. Yeah, Brianna and

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Speaker 1: I both do it the next level thinking Matt, Yeah,

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Speaker 1: I think a lot of folks, you know, have that

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Speaker 1: option made when it was to a fridge. Fewer folks

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Speaker 1: maybe have that option when it comes to houses. But

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Speaker 1: if you do have that ability, uh man, I think

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Speaker 1: that's a really brilliant way of going about it. Yeah,

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Speaker 1: let's talk about what being a cash buyer does for somebody,

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Speaker 1: Matt like and basically, what it does a cash buyer

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Speaker 1: is in a more favorable position. They're looked at better

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Speaker 1: by someone who's selling a home because they've got the

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Speaker 1: cash on hand to be able to pay for it.

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Speaker 1: And sellers love a cash buyer, They love them so

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Speaker 1: much that sometimes they are willing to take less money

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Speaker 1: for the home, and that's because cash buyers are basically

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Speaker 1: a much more sure thing. The deal is not going

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Speaker 1: to fall through because of a financing contingency or a

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Speaker 1: buyer's inability to get a loan for the property. If

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Speaker 1: I'm a seller, that's the thing I'm most worried about.

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Speaker 1: If I've got an offer on the table that's all cash,

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Speaker 1: and an offer on the table that is someone who's

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Speaker 1: got to get financing. If they're the exact same I'm

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Speaker 1: taking the cash buyer every single time. And at the

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Speaker 1: same time, cash buyers can often close more quickly, which

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Speaker 1: means if I'm trying to sell the house, I'm gonna

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Speaker 1: sell it faster and the deals are gonna get done.

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Speaker 1: There's just a lot more certainty. And at the same time, Matt,

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Speaker 1: if that deal were to fall through, when you have

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Speaker 1: a non cash buyer, well relisting it is a huge pain.

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Speaker 1: It can put a seller's plans on hold and for

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Speaker 1: moving into a new home that they're buying, and financially also,

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Speaker 1: it could mean that they're gonna get less for their home.

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Speaker 1: That home is now less appealing if it's been under

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Speaker 1: contract and it's gone back on the market. It's almost

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Speaker 1: kind of snake bitten, right, And so I think that

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Speaker 1: cash buyer is going to be huge for Brianna. Sellers

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Speaker 1: really really like it for a lot of reasons. Yeah.

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Speaker 1: Part of that from like the cellar standpoint, Like they

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Speaker 1: want their house, you know, on the market as a

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Speaker 1: few days as possible, right, Like the days on market

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Speaker 1: buyers and agents who are looking on behalf of buyers,

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Speaker 1: they use that as a signal like that tells them

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Speaker 1: whether or not there's something kind of odd with this house.

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Speaker 1: You know, you see a house with like forty five

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Speaker 1: days on the market, like, that's not a great sign.

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Speaker 1: It's getting at a little long in the tooth. Yeah,

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Speaker 1: And and you know when the house has been on

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Speaker 1: the market that long, they're very well could be something

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Speaker 1: wrong with it or maybe it has fallen through. And Brianna,

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Speaker 1: you know, you mentioned wanting to make a fair offer

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Speaker 1: as well. You know, this is where having a good

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Speaker 1: realtor is clutch. Having someone on your team who lives

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Speaker 1: and breathes that specific market. They're gonna know how far

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Speaker 1: that they can push the envelope without losing the deal outright,

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Speaker 1: because obviously like you want this house right. You know,

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Speaker 1: this is especially true when you found a house that

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Speaker 1: you really like, because it's important to have someone as

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Speaker 1: an intermediary to help remove some of the emotions from

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Speaker 1: that equation. You know, when it feels like you have

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Speaker 1: a lot on the line, it can feel like that

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Speaker 1: your emotions are cranked up to eleven, and so I

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Speaker 1: think there's a better chance of making a costly mistake

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Speaker 1: when your emotions are high. When you found, you know

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Speaker 1: what you think might be the perfect house, and it

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Speaker 1: might be the perfect house for you, but you still

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Speaker 1: want to have somebody who can kind of walk you

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Speaker 1: through that situation and work on your behalf. Yeah, man,

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Speaker 1: I know. When we bought the house that we currently

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Speaker 1: live in that we've been in for about six years,

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Speaker 1: we went above asking price, and my real thor was

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Speaker 1: this calm voice because we really wanted to get the

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Speaker 1: house and we were willing to go above asking price,

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Speaker 1: but she also knew and don't go don't go too

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Speaker 1: far above because I'm pretty sure I know what this

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Speaker 1: house is going to go for. We felt like we

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Speaker 1: still got a good deal. Yes, so her voice of

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Speaker 1: reason was it was clutch in helping us, you know,

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Speaker 1: pay the right price for that house. Yeah, and so

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Speaker 1: we need to also answer this question about well, can

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Speaker 1: she expect to get a discount for being a cash buyer,

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Speaker 1: And that really does depend on so many different factors.

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Speaker 1: It depends on the market and the reasons that the

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Speaker 1: seller has for selling the home. Right, if they're looking

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Speaker 1: to get out of the home immediately and it has

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Speaker 1: been on the market a little bit longer, let's say

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Speaker 1: three or four months, then there's a good chance anybody

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Speaker 1: is going to get a discount buying that home. But

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Speaker 1: in particular if you're a cash buyer. But when demand

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Speaker 1: is high and the sellers in more control, the likelihood

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Speaker 1: that you're going to score a discount is unlikely. But

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Speaker 1: of course that cash offer, like we said, makes it

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Speaker 1: more likely that you're gonna get the house if there

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Speaker 1: are multiple similar offers. So, yeah, being a cash buyer

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Speaker 1: puts you in a great position to buy a home,

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Speaker 1: But it doesn't necessarily mean that you're gonna get a

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Speaker 1: lower price of four or five six off off the

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Speaker 1: listing price. But it does mean that there's a much

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Speaker 1: better chance you're actually going to get under contract on

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Speaker 1: the home that you really want to buy. Yeah, and Joel,

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Speaker 1: you know cash winning out on a multiple offer situation.

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Speaker 1: That's probably especially true now given the economic downturn that

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Speaker 1: we kind of found ourselves in. Lenders are tightening their

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Speaker 1: lending standards. So there are a lot of folks who

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Speaker 1: may be previously qualified, but because their financial situations have

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Speaker 1: changed a little bit, those deals might fall through. The

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Speaker 1: seller knows that, and so they are going to be

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Speaker 1: more likely to go with the sure thing, which is cash.

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Speaker 1: The cash buyer becomes even more important in today's scenario.

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Speaker 1: I think you're right, all right, Matt. Let's get to

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Speaker 1: a couple more questions, including the next one about h

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Speaker 1: s A S and whether or not you have to

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Speaker 1: use your employers hs A plan, and we'll get to

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Speaker 1: those right after the break. All right, Joe, we're back

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Speaker 1: from the break taking listener questions. This one is about

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Speaker 1: an h s A, which is a health savings account.

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Speaker 1: Let's hear it, hi, guys, this is Mike from Columbus

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Speaker 1: calling in. UM. I had a question regarding an employer

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Speaker 1: h s A and then moving that into a personal

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Speaker 1: h s A. This year, my employer is changing their

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Speaker 1: health plan and because of that, I'm switching over to

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Speaker 1: my wife's plan through her employer, which means they'll lead

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Speaker 1: no more contributions for myself or the employer to the

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Speaker 1: h say that they open for me. The bank that

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Speaker 1: it's through, they have investment options, but they don't even

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Speaker 1: have a web portal for it. Everything you want to

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Speaker 1: do you have to do over the phone. So I'm

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Speaker 1: looking into options in terms of what to do with

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Speaker 1: that money, and I didn't even realize that you have

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Speaker 1: the option of transferring the h s A to another provider.

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Speaker 1: So I wanted to see if you guys could speak

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Speaker 1: to that a little bit and see if you have

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Speaker 1: any recommendations or thoughts on that process. Thanks and Mike,

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Speaker 1: we are happy to share our thoughts on this with you. Man.

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Speaker 1: First thing, though you know, you mentioned that your new

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Speaker 1: health coverage will be a plan with your wife's employer.

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Speaker 1: An important distinction is that you can transfer or roll

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Speaker 1: over your h s A to a new administrator no

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Speaker 1: matter what. But if you want to be able to

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Speaker 1: continue to contribute to the h s A, you need

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Speaker 1: to make sure that your new health coverage is a

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Speaker 1: qualifying high deductible health plan that may or may not

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Speaker 1: be the case, so make sure you look that up. Yeah,

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Speaker 1: good point, Matt. So if he's moving over to his

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Speaker 1: wife's insurance and it is a high deductible plan, he

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Speaker 1: can contribute to the h s A that he's establishing

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Speaker 1: when he rolls over his old one into into a

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Speaker 1: plan with a new provider. Very good point also to Mike.

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Speaker 1: Transferring your HSA funds right. Generally speaking, once the funds

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Speaker 1: are deposited in a work h s A, you can

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Speaker 1: move that money to another provider. A lot of people

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Speaker 1: don't really realize this. They think they have to keep

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Speaker 1: their money inside of their employers hs A plan. I

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Speaker 1: will say there might be some sort of transfer fee

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Speaker 1: you'll incur for sending that money to another HSA administrator,

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Speaker 1: but depending on the fees and investing options you have available,

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Speaker 1: it's likely a really good choice to do this. Most

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Speaker 1: hs A providers have high fees and few good investing options,

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Speaker 1: and so getting to pick the company that you do

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Speaker 1: business with who does have a lot of good investing

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Speaker 1: options and low fees is going to be how you

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Speaker 1: want to go. Yeah. Plus, you know he mentioned that

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Speaker 1: his current HSA administrator doesn't even have online access, you know,

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Speaker 1: like This isn't two thousand nine anymore. Nobody wants to

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Speaker 1: have to make a phone call to check their account balance.

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Speaker 1: It makes me think of flip phones joll like where

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Speaker 1: you had to dial in, like actually call a number

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Speaker 1: or present hold one or whatever to hear your voice. Know,

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Speaker 1: you know, I want visual voicemail. I want to be

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Speaker 1: able to see stuff. We're visual creatures and so, Mike,

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Speaker 1: I don't like that you don't have easy access to

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Speaker 1: all of your information online where you can easily see

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Speaker 1: you're investing options in any of those potential fees. You know,

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Speaker 1: that administrator might be great, but just a lack of

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Speaker 1: transparency is sort of a red flag to me, may

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Speaker 1: not be the best option for you because there could

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Speaker 1: be those hidden fees. Yeah. Man, we just talked transfers,

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Speaker 1: but there's also something called an h S a rollover,

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Speaker 1: and there is a difference, so I think we do

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Speaker 1: have to clarify that as well. Right, if you request

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Speaker 1: a rollover instead your HSA administrator or custodian, they'll send

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Speaker 1: you the money, Mike, and you'll have to make the

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Speaker 1: deposit within sixty days to your new HSA. Otherwise you're

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Speaker 1: hit with income tax and a twenty penalty on that money.

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Speaker 1: You don't want to make that mistake. That's a very

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Speaker 1: costly mistake, right, So that's the rollover. But a transfer

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Speaker 1: is when you go directly from one hs A administrator

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Speaker 1: to another one. The money doesn't enter your hands at all,

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Speaker 1: and there's no penalties that way, just the potential transfer

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Speaker 1: fee that I mentioned before. Yeah, and it's important to

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Speaker 1: note as well it comes to transfers. There are no

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Speaker 1: limits on the number of transfers that you can do

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Speaker 1: from one custodian to another custodian, but if you're looking

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Speaker 1: at doing a rollover, you can only do one of

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Speaker 1: those a year. And Mike Lively Infidelity, they are our

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Speaker 1: favorite hs A providers if you know you're going to

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Speaker 1: be investing your HSA money, which would be our preference

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Speaker 1: of course. Uh. They both offer ultra low cost options

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Speaker 1: for you. We've talked before about how the hs A

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Speaker 1: is sort of like this ultimate retirement account. We talked

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Speaker 1: about that in episode one oh five. But if you

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Speaker 1: can actually pay out a pocket for your health expenses

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Speaker 1: and continue to you know, channel this pre tax money

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Speaker 1: into this account where it can grow tax free, and

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Speaker 1: then down the road you can withdraw it also tax free.

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Speaker 1: That's where you get that triple tax advantage. Yeah, the

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Speaker 1: h s A such a good account. The triple Crown

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Speaker 1: start calling it that you never ever pay tax on

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Speaker 1: that money if you use it properly, which is incredible.

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Speaker 1: And so I guess some people might be asking, well,

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Speaker 1: I have a high deductible savings account through my employer.

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Speaker 1: They have a company that they do business with where

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Speaker 1: I can open an hs A. But Matt and Jel

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Speaker 1: just said Lively Infidelity are the best. So should I

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Speaker 1: even be putting money into my employer's HIA or should

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Speaker 1: I be going directly and opening my own. That's a

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Speaker 1: good question. But there are actually some perks to putting

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Speaker 1: that money inside of your employer sponsor plan first. Basically,

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Speaker 1: when you're putting money in an hs A through your employer,

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Speaker 1: you're avoiding some of that payroll tax, which which is awesome,

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Speaker 1: which is Clutch seven point six. That's a nice return

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Speaker 1: right immediately. And so yeah, you probably do want to

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Speaker 1: put money inside of your employer plan first and then

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Speaker 1: do the transfer later to a low cost company with

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Speaker 1: better investing options like Lively and Fidelity. So I hope

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Speaker 1: that helps Mike, make that transfer, get your money invested

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Speaker 1: in some of those low cost options with one of

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Speaker 1: those great companies. Make it happen, all right, Matt. Next

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Speaker 1: question is from a listener who's wondering about c d s.

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Speaker 1: Are those a better option than the savings account? Right now? Hi,

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Speaker 1: Matt and Joel, this is Anna calling from Washington, d C.

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Speaker 1: Thanks for putting out a great show. I'm a new

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Speaker 1: listener and really enjoy listening to the episodes. When you

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00:18:58,520 --> 00:19:01,800
Speaker 1: answer listener questions, it's great to hear the questions other

431
00:19:01,840 --> 00:19:05,040
Speaker 1: people have. I keep a majority of my savings and

432
00:19:05,080 --> 00:19:08,040
Speaker 1: a high yield savings account that at one time offered

433
00:19:08,040 --> 00:19:12,920
Speaker 1: a one point seven percent a p Y on my savings. However,

434
00:19:13,560 --> 00:19:17,880
Speaker 1: due to the Federal Reserve lowering interest rates in response

435
00:19:17,920 --> 00:19:21,080
Speaker 1: to the economic impact of the COVID nineteen pandemic, my

436
00:19:21,240 --> 00:19:24,840
Speaker 1: bank recently reduced the rate they offer to customers to

437
00:19:24,960 --> 00:19:29,520
Speaker 1: one point five and now even less at one point

438
00:19:29,600 --> 00:19:33,240
Speaker 1: three a p Y. This is obviously frustrating for me

439
00:19:33,280 --> 00:19:35,440
Speaker 1: as a customer, but I understand a lot of this

440
00:19:35,560 --> 00:19:39,680
Speaker 1: is outside of anyone's control. In these trying times, however,

441
00:19:40,280 --> 00:19:43,320
Speaker 1: this financial institution is offering for customers to use a

442
00:19:43,400 --> 00:19:47,000
Speaker 1: c D, which earns a one point five five a

443
00:19:47,160 --> 00:19:51,520
Speaker 1: p y. This seems attractive given the additional boost and earnings,

444
00:19:51,520 --> 00:19:54,399
Speaker 1: but I'm not really sure what the pros and cons

445
00:19:54,480 --> 00:19:57,560
Speaker 1: are for CDs, and to be honest, I'm not exactly

446
00:19:57,560 --> 00:20:00,200
Speaker 1: sure what a c D is if it's helped full.

447
00:20:00,240 --> 00:20:03,399
Speaker 1: For context, I keep my six months emergency savings in

448
00:20:03,440 --> 00:20:06,120
Speaker 1: this high yield savings account, and I'm trying to save

449
00:20:06,160 --> 00:20:08,560
Speaker 1: for a down payment on a house. I of course

450
00:20:08,600 --> 00:20:11,360
Speaker 1: want my emergency fund to be readily available given these

451
00:20:11,400 --> 00:20:14,040
Speaker 1: uncertain times, but I probably won't need to touch my

452
00:20:14,080 --> 00:20:17,600
Speaker 1: down payment savings for at least another one to three,

453
00:20:17,680 --> 00:20:20,760
Speaker 1: maybe even more years. Does moving my money to a

454
00:20:20,760 --> 00:20:23,119
Speaker 1: CD makes sense? Or should I keep it in the

455
00:20:23,200 --> 00:20:25,399
Speaker 1: high yield savings account and wait for the FEDS to

456
00:20:25,440 --> 00:20:28,280
Speaker 1: raise interest rates after the pandemic and the hope that

457
00:20:28,320 --> 00:20:32,119
Speaker 1: my savings account rate will eventually increase again. Thanks so

458
00:20:32,200 --> 00:20:35,359
Speaker 1: much for your time, Hey, and a great question, and

459
00:20:35,760 --> 00:20:38,720
Speaker 1: we feel your pain. Uh. It's tough times right now

460
00:20:38,760 --> 00:20:41,760
Speaker 1: for savers, for sure, but at least you're doing business

461
00:20:41,760 --> 00:20:44,040
Speaker 1: with a bank that pays a decent interest rate. One

462
00:20:44,040 --> 00:20:46,919
Speaker 1: point three is actually pretty good, right, now, but you know,

463
00:20:46,960 --> 00:20:49,000
Speaker 1: you know, we can expect interest rates to continue to

464
00:20:49,040 --> 00:20:51,719
Speaker 1: fall on savings accounts for a little while. No one

465
00:20:51,760 --> 00:20:54,280
Speaker 1: can reliably predict the future of interest rates, but it

466
00:20:54,320 --> 00:20:57,720
Speaker 1: seems like savers might continue to get hammered for the

467
00:20:57,800 --> 00:21:00,639
Speaker 1: foreseeable future at least. Yeah, So enter c D, the

468
00:21:00,720 --> 00:21:03,920
Speaker 1: certificated deposit. And you know, Matt, we haven't talked about

469
00:21:04,000 --> 00:21:06,199
Speaker 1: CDs much on the show, and that's because we're not

470
00:21:06,520 --> 00:21:10,160
Speaker 1: typically huge fans. They don't make sense for the most

471
00:21:10,160 --> 00:21:14,040
Speaker 1: part for people because online savings accounts have gotten pretty

472
00:21:14,040 --> 00:21:16,720
Speaker 1: competitive and the rates being offered there have gotten really good.

473
00:21:17,040 --> 00:21:19,199
Speaker 1: But because of what's happening right now, as rates are

474
00:21:19,240 --> 00:21:22,080
Speaker 1: going down, CDs actually do tend to make a little

475
00:21:22,080 --> 00:21:23,880
Speaker 1: bit more sense right now. So I'm glad ain't brought

476
00:21:23,920 --> 00:21:25,760
Speaker 1: this question up, and let's talk about CDs just for

477
00:21:25,800 --> 00:21:28,440
Speaker 1: a second. Of stands for a certificate of deposit. You

478
00:21:28,440 --> 00:21:30,000
Speaker 1: you put in a chunk of money with a bank

479
00:21:30,000 --> 00:21:31,960
Speaker 1: first set amount of time, and they'll pay you a

480
00:21:32,040 --> 00:21:35,520
Speaker 1: given interest rate, right a guaranteed rate of interest for

481
00:21:35,760 --> 00:21:38,160
Speaker 1: a specific period of time. And one of the biggest

482
00:21:38,240 --> 00:21:40,679
Speaker 1: downsides of a c D is that your money is

483
00:21:40,720 --> 00:21:44,120
Speaker 1: tied up right. That's why we're typically bigger fans of

484
00:21:44,119 --> 00:21:46,760
Speaker 1: of savings accounts because they're more liquid. You can have

485
00:21:46,800 --> 00:21:49,760
Speaker 1: access to your cash whatever you want. They offer that flexibility. Yeah,

486
00:21:49,760 --> 00:21:52,800
Speaker 1: but c ds not typically the case. Traditionally you would

487
00:21:52,800 --> 00:21:55,359
Speaker 1: actually pay a penalty if you pulled money out of

488
00:21:55,359 --> 00:21:58,920
Speaker 1: your c D early, making it even less desirable. That's right.

489
00:21:58,920 --> 00:22:01,320
Speaker 1: But Joel, you know, like you just mentioned, given what

490
00:22:01,440 --> 00:22:04,080
Speaker 1: has been going on with our economy right now, like

491
00:22:04,119 --> 00:22:07,240
Speaker 1: a CD might actually make sense for folks because we

492
00:22:07,280 --> 00:22:10,400
Speaker 1: are in a falling interest rate environment. Uh, you can

493
00:22:10,480 --> 00:22:12,960
Speaker 1: lock in a decent rate with the c D, whereas

494
00:22:13,000 --> 00:22:15,679
Speaker 1: that same rate uh in the high interest savings account

495
00:22:15,760 --> 00:22:18,119
Speaker 1: could get sliced in half in the coming months, just

496
00:22:18,160 --> 00:22:20,040
Speaker 1: like we've seen. And so again you need to be

497
00:22:20,080 --> 00:22:22,600
Speaker 1: cool with not touching that money for that given amount

498
00:22:22,640 --> 00:22:26,040
Speaker 1: of time. But this is why today this actually might

499
00:22:26,119 --> 00:22:28,040
Speaker 1: make more sense for folks. And there's kind of a

500
00:22:28,040 --> 00:22:30,879
Speaker 1: third option, Matt. CDs have kind of morphed with the times.

501
00:22:30,960 --> 00:22:33,840
Speaker 1: Different banks have offered different kinds of CD products that

502
00:22:33,880 --> 00:22:36,359
Speaker 1: make a little more sense for the modern era. And

503
00:22:36,359 --> 00:22:38,720
Speaker 1: we're both big fans of the no penalty CDs that

504
00:22:38,760 --> 00:22:40,920
Speaker 1: are out there. These no penalty c d s will

505
00:22:40,920 --> 00:22:42,800
Speaker 1: give you the ability to lock in a higher rate

506
00:22:43,040 --> 00:22:45,399
Speaker 1: without having to pay back interest if you pull the

507
00:22:45,440 --> 00:22:47,880
Speaker 1: money out before the term is up. Ally, I think

508
00:22:47,920 --> 00:22:50,200
Speaker 1: actually kind of inventities, or if not, they at least

509
00:22:50,240 --> 00:22:53,680
Speaker 1: popularize them, and they specifically having eleven month no penalty

510
00:22:53,760 --> 00:22:56,920
Speaker 1: c D with no minimum deposit required, so you're guaranteed

511
00:22:56,920 --> 00:23:00,119
Speaker 1: a certain rate with kind of that added flexibility of

512
00:23:00,240 --> 00:23:02,800
Speaker 1: a high interest savings account. I love that product. It's

513
00:23:02,840 --> 00:23:04,600
Speaker 1: kind of the best of both worlds, and that could

514
00:23:04,600 --> 00:23:06,760
Speaker 1: be kind of the perfect choice, the perfect place for

515
00:23:06,800 --> 00:23:08,919
Speaker 1: any to put some of this money that she's hoping

516
00:23:09,000 --> 00:23:11,880
Speaker 1: to have longer than a year, but she's not sure

517
00:23:11,960 --> 00:23:14,160
Speaker 1: that it's going to be in there longer than that. Yeah, dude,

518
00:23:14,160 --> 00:23:17,119
Speaker 1: no penalty. It's so good, like it's it's win win basically,

519
00:23:17,160 --> 00:23:19,679
Speaker 1: you know, there's no downside. In fact, I was so

520
00:23:19,720 --> 00:23:21,680
Speaker 1: convinced to this that I actually opened one of these

521
00:23:21,880 --> 00:23:24,680
Speaker 1: while we were researching this episode. There you go, because

522
00:23:24,720 --> 00:23:27,280
Speaker 1: there's no penalty for taking that money out, there is

523
00:23:27,320 --> 00:23:29,960
Speaker 1: no downside. Hopefully I won't have any need for that

524
00:23:30,000 --> 00:23:32,480
Speaker 1: money that I've set aside and put in that c D.

525
00:23:32,920 --> 00:23:34,719
Speaker 1: But if I do I'm not going to get hit

526
00:23:34,720 --> 00:23:36,320
Speaker 1: with the penalty, and I'll be able to keep all

527
00:23:36,359 --> 00:23:39,000
Speaker 1: of that interest. And again it's not necessarily because the

528
00:23:39,119 --> 00:23:41,920
Speaker 1: rate that is being offered by the no penalty c

529
00:23:42,080 --> 00:23:44,320
Speaker 1: D is that much higher. It's barely higher than like

530
00:23:44,359 --> 00:23:46,919
Speaker 1: the savings account. But it's the potential for it just

531
00:23:46,960 --> 00:23:50,320
Speaker 1: to stay locked in while the high interest savings decline

532
00:23:50,400 --> 00:23:52,600
Speaker 1: in the coming months. That's the real advantage there. And

533
00:23:52,600 --> 00:23:54,520
Speaker 1: definitely if you already have an ally account, which like

534
00:23:54,560 --> 00:23:56,320
Speaker 1: I did, I mean it literally took me two minutes

535
00:23:56,600 --> 00:23:58,760
Speaker 1: to sign up for that and just move that money

536
00:23:58,760 --> 00:24:01,760
Speaker 1: over and boom, now I've at savings, the checking and

537
00:24:01,840 --> 00:24:04,560
Speaker 1: c ds within that one little logan there you real

538
00:24:04,680 --> 00:24:07,159
Speaker 1: nice nice. Yeah. One other thing that that we can

539
00:24:07,200 --> 00:24:10,520
Speaker 1: mention too about c ds is the ability to ladder

540
00:24:10,720 --> 00:24:13,480
Speaker 1: c ds, and that basically means opening up, you know,

541
00:24:13,520 --> 00:24:16,000
Speaker 1: CDs of of a few different lengths, like a one

542
00:24:16,080 --> 00:24:18,200
Speaker 1: or two and a three year c D, and Anna

543
00:24:18,240 --> 00:24:21,080
Speaker 1: could put equal amounts into each one in order to

544
00:24:21,200 --> 00:24:24,080
Speaker 1: score slightly higher rates because, for instance, when that CD

545
00:24:24,200 --> 00:24:25,680
Speaker 1: comes do in a year, if she wants to put

546
00:24:25,720 --> 00:24:27,840
Speaker 1: money back into a one year CD, rates could be

547
00:24:27,840 --> 00:24:30,000
Speaker 1: a good bit lower. So having that money in a

548
00:24:30,040 --> 00:24:32,640
Speaker 1: two and a three year CD as well, allocating your

549
00:24:32,640 --> 00:24:35,560
Speaker 1: money in that way in a slightly longer term savings

550
00:24:35,680 --> 00:24:38,399
Speaker 1: vehicle like a c D um via laddering could be

551
00:24:38,440 --> 00:24:40,240
Speaker 1: a great option for it to earn a little more

552
00:24:40,440 --> 00:24:42,480
Speaker 1: than kind of the paltry rates that we're starting to

553
00:24:42,480 --> 00:24:44,879
Speaker 1: see more and more in just a simple high interest

554
00:24:44,880 --> 00:24:47,600
Speaker 1: savings account. Especially if you're able to couple that with

555
00:24:47,800 --> 00:24:50,119
Speaker 1: that no penalty one year c D, well, then you

556
00:24:50,119 --> 00:24:52,200
Speaker 1: have that easy access in case you need that money

557
00:24:52,440 --> 00:24:55,239
Speaker 1: within an emergency fund while still growing your money at

558
00:24:55,280 --> 00:24:56,960
Speaker 1: a at a higher rate with those other CDs. That

559
00:24:57,000 --> 00:24:58,919
Speaker 1: sounds like a great plan, all right. So we've got

560
00:24:58,960 --> 00:25:01,480
Speaker 1: a couple more questions in including one as to whether

561
00:25:01,760 --> 00:25:03,960
Speaker 1: someone should choose a four or three B over a

562
00:25:04,080 --> 00:25:06,760
Speaker 1: roth uh. And then we've got one about shopping for

563
00:25:06,800 --> 00:25:09,120
Speaker 1: the best mortgage rates. We'll get to those two right

564
00:25:09,200 --> 00:25:20,119
Speaker 1: after the break, all right. So we are back from

565
00:25:20,119 --> 00:25:21,679
Speaker 1: the break, and our next question has to do with

566
00:25:22,080 --> 00:25:25,600
Speaker 1: maintaining a good credit score while also shopping four A mortgage.

567
00:25:26,520 --> 00:25:29,760
Speaker 1: Hey guys, Brian from Alaska here, hoping you guys might

568
00:25:29,760 --> 00:25:31,240
Speaker 1: be able to help me with a question I have

569
00:25:31,280 --> 00:25:36,680
Speaker 1: about mortgages, specifically about getting the best mortgage rate possible. Anyway,

570
00:25:36,760 --> 00:25:38,119
Speaker 1: my wife and I are getting ready to buy our

571
00:25:38,200 --> 00:25:41,560
Speaker 1: first home. I'm getting ready to change positions with my

572
00:25:41,600 --> 00:25:45,040
Speaker 1: current employer and UH in doing so, that involves a move,

573
00:25:45,080 --> 00:25:47,280
Speaker 1: and hopefully we're going to be able to be able

574
00:25:47,320 --> 00:25:50,680
Speaker 1: to purchase our very first home. Just a quick background,

575
00:25:50,840 --> 00:25:53,080
Speaker 1: we have almost no debt between the two of us.

576
00:25:53,359 --> 00:25:55,400
Speaker 1: All of our student loans and whatnot are paid off,

577
00:25:55,880 --> 00:25:58,439
Speaker 1: and we have a fair amount of savings for down payments.

578
00:25:58,440 --> 00:26:00,560
Speaker 1: So we're gonna look probably at a tree aditional loan

579
00:26:00,680 --> 00:26:03,720
Speaker 1: versus f h A and not a v A loan

580
00:26:03,840 --> 00:26:06,640
Speaker 1: or anything like that. But the question I had is

581
00:26:06,800 --> 00:26:09,040
Speaker 1: what is the best way to go about rate shopping

582
00:26:09,080 --> 00:26:11,639
Speaker 1: for the best mortgage rate. I know that if I

583
00:26:11,760 --> 00:26:15,160
Speaker 1: make any kind of hard hits on my credit line

584
00:26:15,240 --> 00:26:18,479
Speaker 1: through trying to get pre approvals, it can negatively affect

585
00:26:18,480 --> 00:26:20,639
Speaker 1: my credit if I have too many of those. But

586
00:26:20,680 --> 00:26:22,679
Speaker 1: at the same time, I'd like to shop around to

587
00:26:22,720 --> 00:26:24,880
Speaker 1: a bunch of different companies so that I can get

588
00:26:24,920 --> 00:26:27,960
Speaker 1: the best rate and the best terms on that loan,

589
00:26:28,119 --> 00:26:29,800
Speaker 1: being I'm going to be paying it off for probably

590
00:26:29,840 --> 00:26:32,439
Speaker 1: the next thirty years. I guess that leads me to

591
00:26:32,600 --> 00:26:36,000
Speaker 1: question number two, which is is there any advantage to

592
00:26:36,000 --> 00:26:38,720
Speaker 1: go into a brick and mortar store versus going to

593
00:26:39,080 --> 00:26:42,800
Speaker 1: one of these online mortgage brokers like Quicken Loans or

594
00:26:42,880 --> 00:26:45,680
Speaker 1: Rocket Mortgage or anything like that. Is it just based

595
00:26:45,720 --> 00:26:47,920
Speaker 1: loan to loan in person to person on the best

596
00:26:48,000 --> 00:26:50,160
Speaker 1: terms that you can get, or is there an advantage

597
00:26:50,160 --> 00:26:52,760
Speaker 1: going to my credit union where I've been doing business

598
00:26:52,760 --> 00:26:56,320
Speaker 1: for for years and years. Thanks again, guys, Brian, thanks

599
00:26:56,320 --> 00:26:58,959
Speaker 1: to your question. Congrats on buying your first home. Also too,

600
00:26:59,040 --> 00:27:01,240
Speaker 1: it sounds like you you and your wife have your

601
00:27:01,240 --> 00:27:03,959
Speaker 1: finances and kill or shape, so well done on that too,

602
00:27:04,400 --> 00:27:06,359
Speaker 1: and you definitely want to do your due diligence on

603
00:27:06,359 --> 00:27:09,399
Speaker 1: this right. Shopping around for a mortgage could mean saving

604
00:27:09,800 --> 00:27:12,520
Speaker 1: big dollars. It could mean thousands of dollars and potential

605
00:27:12,520 --> 00:27:15,840
Speaker 1: savings on closing costs and tens of thousands of dollars

606
00:27:15,840 --> 00:27:18,680
Speaker 1: in interest saved over the life of the loan. Most

607
00:27:18,680 --> 00:27:21,399
Speaker 1: people don't shop enough for a mortgage raak considering how

608
00:27:21,440 --> 00:27:24,040
Speaker 1: much money overall it can actually save you. It's one

609
00:27:24,080 --> 00:27:25,880
Speaker 1: of those things that deserves just a little more time,

610
00:27:25,920 --> 00:27:28,320
Speaker 1: a little more attention than most people give it. How

611
00:27:28,359 --> 00:27:32,520
Speaker 1: shopping lots of fun. Mortgage shopping not so fun exactly.

612
00:27:32,600 --> 00:27:34,240
Speaker 1: Nobody wants to do because it's not fun, wants to

613
00:27:34,240 --> 00:27:36,000
Speaker 1: do it, but you gotta do it. So Brian, let's

614
00:27:36,000 --> 00:27:38,040
Speaker 1: talk about how to actually go about shopping for the

615
00:27:38,040 --> 00:27:40,439
Speaker 1: best rate. Since it sounds like you do have a

616
00:27:40,480 --> 00:27:43,359
Speaker 1: relationship with a local credit union, uh, you know, we

617
00:27:43,400 --> 00:27:46,360
Speaker 1: would definitely recommend to get a quote with them. While

618
00:27:46,400 --> 00:27:48,440
Speaker 1: we're not big fans of credit unions for the interest

619
00:27:48,560 --> 00:27:51,560
Speaker 1: rate that they offer on savings accounts, they often offer

620
00:27:51,760 --> 00:27:54,200
Speaker 1: some of the best rates out there on mortgages. So

621
00:27:54,240 --> 00:27:56,880
Speaker 1: we would recommend that a couple of my mortgages are

622
00:27:57,000 --> 00:27:59,800
Speaker 1: with two different local credit unions here in Atlanta. Yeah,

623
00:27:59,840 --> 00:28:02,600
Speaker 1: wet mortgages with a local credit union as well, Matt.

624
00:28:02,680 --> 00:28:04,960
Speaker 1: I think they're a great place to turn when you're

625
00:28:05,000 --> 00:28:07,399
Speaker 1: shopping for a mortgage, but it's also important to make

626
00:28:07,400 --> 00:28:09,400
Speaker 1: sure you don't stop there. Make sure you get at

627
00:28:09,480 --> 00:28:13,160
Speaker 1: least three quotes, preferably five. Talk to a local mortgage

628
00:28:13,200 --> 00:28:16,560
Speaker 1: broker as well, who shops with a variety of lenders.

629
00:28:16,800 --> 00:28:20,040
Speaker 1: Brokers are typically paid by the lender for bringing them business,

630
00:28:20,320 --> 00:28:22,520
Speaker 1: and in the additional benefit of working with a broker

631
00:28:22,640 --> 00:28:25,000
Speaker 1: is that they can shop around quickly with a bunch

632
00:28:25,040 --> 00:28:27,359
Speaker 1: of different lenders for rates, which gets us to the

633
00:28:27,359 --> 00:28:29,080
Speaker 1: next part of your question. Yeah right, It's tough to

634
00:28:29,119 --> 00:28:31,840
Speaker 1: know exactly how shopping around will affect your credit score.

635
00:28:31,960 --> 00:28:34,520
Speaker 1: But if a lender is using the latest FICO scoring model,

636
00:28:34,560 --> 00:28:38,000
Speaker 1: then you have a forty five day window to comparison shop.

637
00:28:38,320 --> 00:28:40,880
Speaker 1: In this case, hard polls are going to be treated

638
00:28:41,040 --> 00:28:43,680
Speaker 1: as just a single hard poll. But the worst case

639
00:28:43,680 --> 00:28:46,360
Speaker 1: scenario is if they're using an older credit scoring model,

640
00:28:46,640 --> 00:28:49,240
Speaker 1: or you might only have a fourteen day window where

641
00:28:49,280 --> 00:28:51,400
Speaker 1: those multiple credit checks are treated as a single poll.

642
00:28:51,600 --> 00:28:53,680
Speaker 1: But even still, even with the old models where you

643
00:28:53,680 --> 00:28:55,520
Speaker 1: only have fourteen days, I feel like it's pretty easy

644
00:28:55,560 --> 00:28:57,600
Speaker 1: to to go mortgage shopping within a two week period.

645
00:28:57,640 --> 00:28:59,200
Speaker 1: You know, you just need to stay organized, knock it

646
00:28:59,240 --> 00:29:01,560
Speaker 1: all out at once, and that would have the least

647
00:29:01,600 --> 00:29:04,040
Speaker 1: impact on your credit score. But at the same time,

648
00:29:04,280 --> 00:29:06,400
Speaker 1: people say like they don't want to ding their credit score.

649
00:29:06,520 --> 00:29:08,680
Speaker 1: And here's the thing that kind of language, Like when

650
00:29:08,680 --> 00:29:10,200
Speaker 1: you say I don't want to ding it, what does

651
00:29:10,200 --> 00:29:11,640
Speaker 1: that make you think of? It makes you think of

652
00:29:11,680 --> 00:29:13,920
Speaker 1: a nice, fancy car. But like, again, I want to

653
00:29:13,920 --> 00:29:16,160
Speaker 1: push people towards seeing their credit score as a tool

654
00:29:16,240 --> 00:29:18,080
Speaker 1: like something that needs to get dinged up a little

655
00:29:18,080 --> 00:29:20,040
Speaker 1: bit every now and then. Right, go ahead and put

656
00:29:20,040 --> 00:29:22,440
Speaker 1: it to use. That's what it's there for. Especially for

657
00:29:22,480 --> 00:29:24,960
Speaker 1: a mortgage. This is probably the largest loan, the largest

658
00:29:24,960 --> 00:29:26,960
Speaker 1: transaction where your credit score is going to be able

659
00:29:26,960 --> 00:29:29,080
Speaker 1: to help you out. Yeah, your credit score matters the

660
00:29:29,200 --> 00:29:32,280
Speaker 1: absolute most when you're mortgage shopping other things. It's nice

661
00:29:32,280 --> 00:29:34,440
Speaker 1: to have a good credit score, but mortgag shopping it

662
00:29:34,480 --> 00:29:37,000
Speaker 1: could save you a ridiculous amount of big deal. Yeah,

663
00:29:37,040 --> 00:29:39,200
Speaker 1: But Brian asked about going with a brick and mortar

664
00:29:39,520 --> 00:29:42,400
Speaker 1: versus an online lender, And yeah, Brian, there is an

665
00:29:42,400 --> 00:29:45,800
Speaker 1: advantage to using a local lender, right. There's typically a

666
00:29:45,840 --> 00:29:48,240
Speaker 1: personal relationship that goes along with that, and that person

667
00:29:48,280 --> 00:29:51,360
Speaker 1: that local credit union or bank often has added incentive

668
00:29:51,360 --> 00:29:53,000
Speaker 1: and ability to make sure that you get to the

669
00:29:53,000 --> 00:29:56,600
Speaker 1: closing table on time. So, while online lenders are great

670
00:29:56,960 --> 00:29:59,440
Speaker 1: for a refinance, and some of them will do a

671
00:29:59,440 --> 00:30:02,400
Speaker 1: good job at speeding you through underwriting, I personally prefer

672
00:30:02,440 --> 00:30:05,200
Speaker 1: working with a local lender on a home purchase because

673
00:30:05,240 --> 00:30:07,240
Speaker 1: I don't want to get sucked in by you know,

674
00:30:07,320 --> 00:30:09,840
Speaker 1: just an awesome rate and then realize that they're not

675
00:30:09,880 --> 00:30:11,680
Speaker 1: actually gonna be able to get me to the finish line,

676
00:30:11,840 --> 00:30:13,880
Speaker 1: to the closing table on time and have a contract

677
00:30:13,920 --> 00:30:15,920
Speaker 1: fall through because of it. I have friends who are

678
00:30:16,000 --> 00:30:18,200
Speaker 1: real estate investors who have had that happen. They've they've

679
00:30:18,240 --> 00:30:21,280
Speaker 1: tried to go at the absolute best rate and it

680
00:30:21,320 --> 00:30:23,440
Speaker 1: was through an online lender, and then they didn't get

681
00:30:23,440 --> 00:30:25,640
Speaker 1: taken care of in the end. Yeah, there's a balance

682
00:30:25,680 --> 00:30:28,200
Speaker 1: of customer service as well as the best rate possible,

683
00:30:28,280 --> 00:30:31,760
Speaker 1: right exactly. So again, online lenders great fur defies not

684
00:30:31,880 --> 00:30:34,560
Speaker 1: necessarily ideal for a home purchase. Yeah, this is especially

685
00:30:34,560 --> 00:30:36,280
Speaker 1: true for you, Brian, since it sounds like this is

686
00:30:36,320 --> 00:30:38,520
Speaker 1: your first home that you guys are purchasing when you

687
00:30:38,560 --> 00:30:41,800
Speaker 1: haven't done this before. There's a lot of moving parts, uh,

688
00:30:41,840 --> 00:30:44,600
Speaker 1: and not everything goes as smoothly as you might hope

689
00:30:44,600 --> 00:30:47,200
Speaker 1: it would when you're purchasing a home, and so especially

690
00:30:47,240 --> 00:30:50,200
Speaker 1: considering that this is your first home, we would maybe

691
00:30:50,200 --> 00:30:53,360
Speaker 1: recommend going with a local credit union a little more

692
00:30:53,400 --> 00:30:55,840
Speaker 1: than with an online lender. And Brian, what other thought,

693
00:30:55,920 --> 00:30:59,240
Speaker 1: that's maybe not as uh financially related, but it sounded

694
00:30:59,320 --> 00:31:01,600
Speaker 1: like to that you're getting this promotion, or you're getting

695
00:31:01,600 --> 00:31:03,280
Speaker 1: a new position with your job and you're moving at

696
00:31:03,320 --> 00:31:06,960
Speaker 1: the same time. We might, you know, recommend not doing

697
00:31:07,000 --> 00:31:09,600
Speaker 1: these things, I guess at the exact same time, especially

698
00:31:09,600 --> 00:31:12,600
Speaker 1: if you're moving to a newer area. Uh. In instances

699
00:31:12,640 --> 00:31:16,160
Speaker 1: like that, there's a lot of benefits renting, you know,

700
00:31:16,240 --> 00:31:18,360
Speaker 1: for a little bit ahead of time, getting to know

701
00:31:18,400 --> 00:31:20,160
Speaker 1: an area, of really figuring out where it is that

702
00:31:20,200 --> 00:31:22,440
Speaker 1: you want to purchase, because like purchasing a home is

703
00:31:22,480 --> 00:31:25,000
Speaker 1: a huge deal. It's a big decision and unless you've

704
00:31:25,040 --> 00:31:27,959
Speaker 1: really researched the area, you're really familiar with, not only

705
00:31:28,000 --> 00:31:30,680
Speaker 1: the neighborhoods, but the streets, because you know, neighborhoods can

706
00:31:30,720 --> 00:31:32,960
Speaker 1: vary from street to street. I know it's a pain

707
00:31:33,040 --> 00:31:35,520
Speaker 1: and does not sound fun to say, hey, babe, let's

708
00:31:35,560 --> 00:31:37,800
Speaker 1: let's rent for three months or six months or even

709
00:31:37,800 --> 00:31:40,080
Speaker 1: a year while he gets into the new city. But

710
00:31:40,120 --> 00:31:41,800
Speaker 1: I think that could really end up being something that

711
00:31:41,800 --> 00:31:43,959
Speaker 1: that helps you guys out finding a place that you

712
00:31:44,040 --> 00:31:46,240
Speaker 1: really love for the long term. Yeah. I mean, I

713
00:31:46,240 --> 00:31:47,800
Speaker 1: think that's great advice. Doing all those things at the

714
00:31:47,800 --> 00:31:50,200
Speaker 1: same time. That's a lot going on, and in particular

715
00:31:50,200 --> 00:31:53,040
Speaker 1: moving to a new area without running first, not typically ideal.

716
00:31:53,080 --> 00:31:56,320
Speaker 1: We're big fans of people renting. We don't hate on

717
00:31:56,360 --> 00:31:58,600
Speaker 1: renting at all. No, we certainly don't. And we're all

718
00:31:58,640 --> 00:32:01,760
Speaker 1: about people renting before where they buy in a new city,

719
00:32:01,760 --> 00:32:03,920
Speaker 1: so they get to know their surroundings first before they

720
00:32:03,960 --> 00:32:05,719
Speaker 1: decide where they want to land for good. All right,

721
00:32:05,880 --> 00:32:07,760
Speaker 1: let's get to our next question, though. This one's from

722
00:32:07,760 --> 00:32:10,720
Speaker 1: an o G listener. Hi, Joel Matt, this is David

723
00:32:10,760 --> 00:32:13,440
Speaker 1: from Seattle. I've been a listener since day one, but

724
00:32:13,480 --> 00:32:15,600
Speaker 1: this is my first time calling in. I love to

725
00:32:15,640 --> 00:32:17,640
Speaker 1: get your thoughts on my four h three B. My

726
00:32:17,680 --> 00:32:20,719
Speaker 1: employer only contributes their match once per year, and it

727
00:32:20,760 --> 00:32:23,720
Speaker 1: isn't guaranteed, and I'm not confident that they're going to

728
00:32:23,800 --> 00:32:27,000
Speaker 1: make their two percent match this year. And while the

729
00:32:27,000 --> 00:32:31,800
Speaker 1: options are decent, which are Vanguard target funds, I'm not

730
00:32:31,840 --> 00:32:35,080
Speaker 1: sure I see any advantage to continuing making these contributions

731
00:32:35,080 --> 00:32:37,760
Speaker 1: to my employer pre tax fund if they don't make

732
00:32:37,800 --> 00:32:41,320
Speaker 1: their match, and even if they do, I'm still missing

733
00:32:41,320 --> 00:32:44,040
Speaker 1: out on that full year of growth on their match.

734
00:32:44,920 --> 00:32:48,120
Speaker 1: It's worth pointing out that the target funds expense ratio

735
00:32:48,560 --> 00:32:54,360
Speaker 1: is point and of the fund is in bonds. My

736
00:32:54,520 --> 00:32:57,360
Speaker 1: partner and I are still very early in the wealth

737
00:32:57,360 --> 00:33:00,120
Speaker 1: building stage and I'd rather be more aggressive and go

738
00:33:00,160 --> 00:33:05,200
Speaker 1: ac stocks. So my question is, wouldn't post tax contributions

739
00:33:05,240 --> 00:33:08,160
Speaker 1: to a low cost ira A be better since taxes

740
00:33:08,240 --> 00:33:10,800
Speaker 1: are probably going to be higher in the future when

741
00:33:10,840 --> 00:33:14,680
Speaker 1: I draw on my pretax funds or am I missing something?

742
00:33:15,360 --> 00:33:21,120
Speaker 1: Or maybe it's better to keep contributing that two to

743
00:33:21,160 --> 00:33:24,440
Speaker 1: see if my employer does make their match, and then

744
00:33:24,640 --> 00:33:28,440
Speaker 1: open an ira A for anything above and beyond that.

745
00:33:29,360 --> 00:33:31,640
Speaker 1: Let me know what you guys think, and if you're

746
00:33:31,640 --> 00:33:34,800
Speaker 1: ever out in Seattle, let me know and I'll show

747
00:33:34,840 --> 00:33:38,360
Speaker 1: you some good spots. Thanks a lot, guys, keep it up. David,

748
00:33:38,400 --> 00:33:40,240
Speaker 1: thanks for the question and thanks for the offer as well.

749
00:33:40,280 --> 00:33:42,280
Speaker 1: I love Seattle. I've only been out there one time,

750
00:33:42,280 --> 00:33:44,040
Speaker 1: but I think we hit it perfectly, like, it didn't

751
00:33:44,080 --> 00:33:46,280
Speaker 1: rain at all, The skies are blue, it was beautiful.

752
00:33:46,320 --> 00:33:49,280
Speaker 1: It's the middle of the summer. You didn't actually experience Seattle, then, well,

753
00:33:49,320 --> 00:33:51,720
Speaker 1: I experienced Portland Portland when we went to Portland with

754
00:33:51,760 --> 00:33:55,120
Speaker 1: super rainy, but Seattle was beautiful, and Seattle in September

755
00:33:55,240 --> 00:33:56,520
Speaker 1: it's like the best time to go. It's such a

756
00:33:56,520 --> 00:33:58,680
Speaker 1: beautiful stay it freezing though in September. No, it's not

757
00:33:58,720 --> 00:34:00,760
Speaker 1: too cold yet. Just I think it's one of the

758
00:34:00,840 --> 00:34:02,960
Speaker 1: drier months of the year. And you know, it's still

759
00:34:03,120 --> 00:34:05,160
Speaker 1: it's so green. It's beautiful. Yeah, we were there in

760
00:34:05,240 --> 00:34:07,000
Speaker 1: June and I was surprised at how cool it was,

761
00:34:08,160 --> 00:34:10,600
Speaker 1: but it was really beautiful. And Joe, it's worth mission

762
00:34:10,600 --> 00:34:12,520
Speaker 1: to This is the David who sent us a beer

763
00:34:12,600 --> 00:34:14,680
Speaker 1: back in the day. He sent us a coffee porter

764
00:34:15,040 --> 00:34:17,480
Speaker 1: made by the coffee beans that his company roasts. The

765
00:34:17,520 --> 00:34:20,400
Speaker 1: company is a nonprofit that gets um and this is

766
00:34:20,400 --> 00:34:23,560
Speaker 1: from the website. Street involved young people to discover and

767
00:34:23,640 --> 00:34:26,640
Speaker 1: employ their gifts by serving coffee in our community. The

768
00:34:26,719 --> 00:34:30,200
Speaker 1: name of his company is Street Being Coffee Roasters, and

769
00:34:30,280 --> 00:34:32,239
Speaker 1: that's why he has a four or three B because

770
00:34:32,239 --> 00:34:34,799
Speaker 1: they're actually a nonprofit, which is super cool. And I'm

771
00:34:34,800 --> 00:34:36,640
Speaker 1: glad that we're kind of coming full circle and gets

772
00:34:36,640 --> 00:34:38,839
Speaker 1: an answer a little question here for David. Yeah, that's awesome. Yeah,

773
00:34:38,880 --> 00:34:40,560
Speaker 1: David said he been listening since day one. That's a

774
00:34:40,560 --> 00:34:42,640
Speaker 1: long time ago here, So yeah, we appreciate you listening, man.

775
00:34:42,640 --> 00:34:44,719
Speaker 1: We appreciate that beer back in the day. And yeah,

776
00:34:44,760 --> 00:34:46,759
Speaker 1: let's get to the heart of David's question. He's talking

777
00:34:46,800 --> 00:34:48,480
Speaker 1: about whether he should be putting his money in that

778
00:34:48,480 --> 00:34:51,080
Speaker 1: four h three B or in a ROTH. And first

779
00:34:51,120 --> 00:34:53,720
Speaker 1: of all, it's excellent that you have access to Vanguard

780
00:34:53,800 --> 00:34:56,560
Speaker 1: funds in your four oh three B, right, But roth iras,

781
00:34:56,560 --> 00:34:59,960
Speaker 1: which are post tax, are a better option in our opinion,

782
00:35:00,040 --> 00:35:03,600
Speaker 1: in especially for folks with a lower adjusted gross income. Right,

783
00:35:03,640 --> 00:35:05,880
Speaker 1: paying the tax now and never paying it again. If

784
00:35:05,920 --> 00:35:08,560
Speaker 1: you're in one of those super low tax brackets, like

785
00:35:08,680 --> 00:35:11,239
Speaker 1: let's say you're in the twelve percent tax bracket, it's

786
00:35:11,239 --> 00:35:13,400
Speaker 1: such an excellent idea to be able to pay the

787
00:35:13,400 --> 00:35:16,240
Speaker 1: tax now and never pay tax on that money again.

788
00:35:16,560 --> 00:35:19,120
Speaker 1: It's similar to the interest rate combo that we had earlier. Right,

789
00:35:19,160 --> 00:35:22,200
Speaker 1: taxes are just as hard to predict as interest rates,

790
00:35:22,200 --> 00:35:23,680
Speaker 1: Like are they gonna go up? Are they gonna go down?

791
00:35:23,719 --> 00:35:25,239
Speaker 1: Shut up my money in a CD or should I

792
00:35:25,280 --> 00:35:27,240
Speaker 1: keep it in the same mus account? No, man, We

793
00:35:27,239 --> 00:35:29,480
Speaker 1: we think that interest rates are gonna keep falling, but

794
00:35:29,840 --> 00:35:32,120
Speaker 1: that's really hard to predict. And we think that tax

795
00:35:32,200 --> 00:35:33,919
Speaker 1: rates are going to go up because they're really cheap

796
00:35:34,000 --> 00:35:36,160
Speaker 1: right now, right, But that's again hard to predict it.

797
00:35:36,239 --> 00:35:38,040
Speaker 1: So yeah, sometimes you just kind of have to make

798
00:35:38,080 --> 00:35:40,919
Speaker 1: an educated decision and go with the burden the hand.

799
00:35:40,920 --> 00:35:43,120
Speaker 1: And that's why I think everything else being equal, we

800
00:35:43,160 --> 00:35:45,680
Speaker 1: would say a roth ira is a better decision than

801
00:35:45,719 --> 00:35:47,680
Speaker 1: than the four or three b Yeah, and David, there's

802
00:35:47,680 --> 00:35:49,040
Speaker 1: a chance that you can kind of get the best

803
00:35:49,040 --> 00:35:50,880
Speaker 1: of both worlds. You know, the last suggestion that you

804
00:35:50,920 --> 00:35:53,720
Speaker 1: had seems to be your best bet. Contribute that to percent,

805
00:35:53,840 --> 00:35:55,680
Speaker 1: hoping for a match, and then put the rest in

806
00:35:55,680 --> 00:35:58,719
Speaker 1: a total stock market or smp fived fund with one

807
00:35:58,719 --> 00:36:01,000
Speaker 1: of the different low cost provid riders out there. And

808
00:36:01,040 --> 00:36:03,759
Speaker 1: even if they don't match that target date fund that

809
00:36:03,760 --> 00:36:05,839
Speaker 1: you have there, with an expense ratio of point one

810
00:36:05,880 --> 00:36:08,880
Speaker 1: five percent, that's totally acceptable, and even eleven percent in

811
00:36:08,920 --> 00:36:12,239
Speaker 1: bonds is pretty standard for young investors. But we are

812
00:36:12,280 --> 00:36:15,600
Speaker 1: with you, though, and we like the stock allocation if

813
00:36:15,640 --> 00:36:18,080
Speaker 1: you can handle the increased volatility. I, for one, I'm

814
00:36:18,080 --> 00:36:20,319
Speaker 1: all about that volatility. Jewel actually have zero of my

815
00:36:20,360 --> 00:36:23,160
Speaker 1: retirement in bonds because I want to see that that volatility.

816
00:36:23,160 --> 00:36:24,880
Speaker 1: I want to see that up and down, because I

817
00:36:24,920 --> 00:36:29,200
Speaker 1: know that like volatility in increased gains in the market,

818
00:36:29,239 --> 00:36:31,680
Speaker 1: like they're basically attached at the hip. You can't have

819
00:36:31,800 --> 00:36:33,799
Speaker 1: one without the other. And so if you're a little

820
00:36:33,800 --> 00:36:35,759
Speaker 1: bit younger, or if you're at least younger in your

821
00:36:35,800 --> 00:36:38,800
Speaker 1: investing career, Uh, yeah, going with more stocks is definitely

822
00:36:38,840 --> 00:36:41,440
Speaker 1: what we would recommend. Yeah, the increased volatility is going

823
00:36:41,480 --> 00:36:45,160
Speaker 1: to lead to increased reward over the long term. So yeah,

824
00:36:45,160 --> 00:36:47,400
Speaker 1: but David Yea, sounds like that's probably the best option

825
00:36:47,440 --> 00:36:50,319
Speaker 1: for you, that hybrid approach that Matt mentioned. And best

826
00:36:50,320 --> 00:36:52,640
Speaker 1: of luck to you and you're investing endeavors. All right, Matt,

827
00:36:52,680 --> 00:36:54,439
Speaker 1: let's take it back to the beer. Today on the show,

828
00:36:54,440 --> 00:36:56,480
Speaker 1: we drank a beer called Pseudo Sue. It's a pale

829
00:36:56,480 --> 00:36:59,960
Speaker 1: ale by Tompling the Lithe Brewing Company out of Iowa. Well,

830
00:37:00,000 --> 00:37:01,759
Speaker 1: what would your take on this beer? Man? Man, this

831
00:37:01,840 --> 00:37:04,719
Speaker 1: was such a good beer. I really really enjoyed this one,

832
00:37:04,800 --> 00:37:07,560
Speaker 1: and I kind of kept myself from explaining this beer

833
00:37:07,600 --> 00:37:09,400
Speaker 1: at the beginning of the episode. But it's called Pseudo

834
00:37:09,480 --> 00:37:12,200
Speaker 1: Sue because there's a beer called King Sue which we've

835
00:37:12,239 --> 00:37:14,560
Speaker 1: had on the show, which is an I p a uh,

836
00:37:14,560 --> 00:37:16,959
Speaker 1: and so this is the pale ale version of that beer.

837
00:37:17,000 --> 00:37:19,480
Speaker 1: So it's I guess slightly some would say dumbed down

838
00:37:19,520 --> 00:37:20,920
Speaker 1: a little bit, you know, it's like kind of the

839
00:37:20,960 --> 00:37:23,239
Speaker 1: fake I p A version. But honestly, man, I might

840
00:37:23,280 --> 00:37:26,160
Speaker 1: even like this one the pseudo sue better than I

841
00:37:26,239 --> 00:37:28,640
Speaker 1: like the King sue. Like, we don't have this side

842
00:37:28,640 --> 00:37:30,480
Speaker 1: by side, and so it's hard to make a comparison

843
00:37:30,520 --> 00:37:33,120
Speaker 1: like that without kind of doing an A B test here.

844
00:37:33,400 --> 00:37:35,279
Speaker 1: But I really like this one. I really like the

845
00:37:35,360 --> 00:37:38,279
Speaker 1: lighter mouth field that accompanies a pale ale, but this one,

846
00:37:38,280 --> 00:37:40,600
Speaker 1: in particular, it has a lot of hot presence and

847
00:37:40,600 --> 00:37:42,560
Speaker 1: the hot tastes really fresh. This is one of those

848
00:37:42,600 --> 00:37:45,879
Speaker 1: pale ales that tastes really alive to me. And man,

849
00:37:46,040 --> 00:37:47,680
Speaker 1: if I can get an I p A or a

850
00:37:47,680 --> 00:37:50,000
Speaker 1: pale ale that tingles in my mouth a little bit

851
00:37:50,000 --> 00:37:52,560
Speaker 1: because it just tastes so fresh, it's gonna win me

852
00:37:52,600 --> 00:37:55,280
Speaker 1: over every single time. But uh, yeah, I really enjoyed

853
00:37:55,280 --> 00:37:57,000
Speaker 1: this one, man. It was kind of one of those

854
00:37:57,000 --> 00:37:59,319
Speaker 1: hazy pale ales. But yeah, what were your thoughts on

855
00:37:59,360 --> 00:38:01,520
Speaker 1: this beer, buddy? Yeah, man, this was a delicious beer.

856
00:38:01,560 --> 00:38:03,560
Speaker 1: It's it's a single hot beer, So yeah, most I

857
00:38:03,680 --> 00:38:05,440
Speaker 1: p A s are paleos. They use like four and

858
00:38:05,520 --> 00:38:08,440
Speaker 1: five different hot varieties simultaneously at the same time, and

859
00:38:08,440 --> 00:38:11,160
Speaker 1: that assortment the hops as they blend together kind of

860
00:38:11,200 --> 00:38:15,239
Speaker 1: create this interesting symphony, right, but like a little fruit punch, right, yeah,

861
00:38:15,280 --> 00:38:17,600
Speaker 1: but one hot trying to do one hot by itself.

862
00:38:17,760 --> 00:38:20,160
Speaker 1: It's gonna make that singular hot flavor stand out in

863
00:38:20,200 --> 00:38:22,800
Speaker 1: a big way. And sometimes it works and sometimes it doesn't.

864
00:38:22,920 --> 00:38:25,440
Speaker 1: And on this beer it worked out really really well.

865
00:38:25,760 --> 00:38:28,640
Speaker 1: It was Citra only on this bad Boy, and I

866
00:38:28,680 --> 00:38:31,319
Speaker 1: would say it was an incredibly smooth pale ale with

867
00:38:31,360 --> 00:38:34,120
Speaker 1: so much hot flavor. I really enjoyed it. Yes, Pudo Sue,

868
00:38:34,320 --> 00:38:36,000
Speaker 1: it's just as good as King Sue, if not better.

869
00:38:36,200 --> 00:38:37,719
Speaker 1: I got I gotta agree with you, man. Yeah, And

870
00:38:37,760 --> 00:38:40,359
Speaker 1: so thanks again to Kelsey out in Iowa for sending

871
00:38:40,400 --> 00:38:41,880
Speaker 1: this one in our way. We've been lucky to have

872
00:38:41,960 --> 00:38:44,319
Speaker 1: a bunch of poppling Goliath on the show lately. So

873
00:38:44,600 --> 00:38:47,080
Speaker 1: looking forward to our next episode as well, because we

874
00:38:47,120 --> 00:38:49,440
Speaker 1: get to have another beer, right exactly, all right, Matt,

875
00:38:49,440 --> 00:38:51,040
Speaker 1: that's gonna do it for this episode. For folks that

876
00:38:51,120 --> 00:38:53,640
Speaker 1: want show notes for this episode, just go to our

877
00:38:53,680 --> 00:38:56,040
Speaker 1: website how to Money dot com. You can find those there.

878
00:38:56,239 --> 00:38:57,759
Speaker 1: And if you're not already, we would love for you

879
00:38:57,840 --> 00:39:00,520
Speaker 1: to be a subscriber. Just mash that button on your

880
00:39:00,640 --> 00:39:03,680
Speaker 1: podcatcher and you can be like David, a long time listener.

881
00:39:04,120 --> 00:39:05,799
Speaker 1: And if you haven't already as well, we would love

882
00:39:05,800 --> 00:39:07,840
Speaker 1: for you to head over to Apple Podcasts where you

883
00:39:07,840 --> 00:39:10,640
Speaker 1: can leave us, hopefully a nice review, and that will

884
00:39:10,680 --> 00:39:12,840
Speaker 1: help us to spread the word and help others to

885
00:39:12,880 --> 00:39:15,200
Speaker 1: find this podcast who need to be doing better and

886
00:39:15,280 --> 00:39:17,920
Speaker 1: smarter things with their money. That's our goal, man. Alright, Matt,

887
00:39:18,040 --> 00:39:20,560
Speaker 1: until next time, Best Friends Out, Best Friends Out,