1 00:00:00,120 --> 00:00:02,960 Speaker 1: Welcome to How the Money. I'm Joel, I'm Matt, and 2 00:00:03,000 --> 00:00:25,200 Speaker 1: today we are answering your listener questions. That's right, chel, 3 00:00:25,239 --> 00:00:27,760 Speaker 1: This is our ask Count of Money episode where we 4 00:00:27,800 --> 00:00:32,400 Speaker 1: are going to answer five questions, including one about medical tourism. 5 00:00:32,440 --> 00:00:34,519 Speaker 1: I'm really excited to take that one. We've got a 6 00:00:34,600 --> 00:00:36,839 Speaker 1: question about open enrollment, which is also on a lot 7 00:00:36,840 --> 00:00:41,120 Speaker 1: of people's minds these days, and another about investing locally 8 00:00:41,159 --> 00:00:44,200 Speaker 1: in our thoughts on that maybe how to go about 9 00:00:44,200 --> 00:00:46,199 Speaker 1: that in some ways to think about it, plus a 10 00:00:46,240 --> 00:00:48,199 Speaker 1: couple other questions. There we go. Let's get to it 11 00:00:48,200 --> 00:00:50,760 Speaker 1: in just a second. But before we hit up those questions, Matt, 12 00:00:50,800 --> 00:00:53,560 Speaker 1: I wanted to mention that I went on a hike 13 00:00:53,560 --> 00:00:56,960 Speaker 1: recently when I took my family up to Chattanooga, which 14 00:00:57,040 --> 00:01:00,120 Speaker 1: is a lovely place, lovely little town about an hour 15 00:01:00,120 --> 00:01:02,960 Speaker 1: and a half outside of Atlanta, and one of my 16 00:01:03,000 --> 00:01:06,760 Speaker 1: friends recommended this cool waterfall hike and I was like, Okay, sweet, yeah, 17 00:01:07,000 --> 00:01:08,360 Speaker 1: this would be great. He said it was good. We 18 00:01:08,400 --> 00:01:10,839 Speaker 1: have got a toddler even he can handle it, and 19 00:01:11,040 --> 00:01:12,520 Speaker 1: he was able to. It was a really fun hike, 20 00:01:12,760 --> 00:01:14,720 Speaker 1: and waterfalls are the best, Like what's better than a 21 00:01:14,720 --> 00:01:19,000 Speaker 1: good waterfall selfie very well, not the selfiest but for me, 22 00:01:19,080 --> 00:01:21,680 Speaker 1: I like, actually so in the summertime when you can 23 00:01:21,680 --> 00:01:24,360 Speaker 1: go swimming, actually swimming at the base of a waterfall, 24 00:01:24,400 --> 00:01:26,319 Speaker 1: like in the pool, like that's I feel like what 25 00:01:26,360 --> 00:01:28,160 Speaker 1: you can't beat. Yeah, yeah, that's fun. And there was 26 00:01:28,200 --> 00:01:29,679 Speaker 1: just like all the way back to the wild and 27 00:01:30,000 --> 00:01:32,000 Speaker 1: that there was this little pool up top and we 28 00:01:32,000 --> 00:01:33,520 Speaker 1: did like wait in and play around. That was that 29 00:01:33,640 --> 00:01:34,840 Speaker 1: was a lot of time out at the top of 30 00:01:34,920 --> 00:01:36,600 Speaker 1: the bottom. Well, it was kind of one of those 31 00:01:36,640 --> 00:01:39,600 Speaker 1: like you know, some waterfalls are not like perfect in 32 00:01:39,240 --> 00:01:42,759 Speaker 1: the nature, so it wasn't like that. But you play 33 00:01:42,800 --> 00:01:44,200 Speaker 1: around in the pool at the top of the waterfall, 34 00:01:44,240 --> 00:01:46,440 Speaker 1: you always gotta be careful. Well, yes there was over 35 00:01:46,640 --> 00:01:48,400 Speaker 1: there was a place where you could do it safely, 36 00:01:48,640 --> 00:01:51,120 Speaker 1: but yeah, so I was. I found it interesting though. 37 00:01:51,320 --> 00:01:54,920 Speaker 1: Right before we went, there was a one star review 38 00:01:54,960 --> 00:01:57,640 Speaker 1: of this trail, and overall the reviews were like, I 39 00:01:57,640 --> 00:01:59,840 Speaker 1: don't know, so four four point seven, four point eight stars. 40 00:01:59,840 --> 00:02:01,640 Speaker 1: Most people were like this is great or this is 41 00:02:01,680 --> 00:02:05,840 Speaker 1: really good. And one person was like, this trail stinks 42 00:02:05,880 --> 00:02:07,800 Speaker 1: because there was a tree down and I had to 43 00:02:07,800 --> 00:02:09,960 Speaker 1: hop over it and it was a big pain. And 44 00:02:10,240 --> 00:02:13,079 Speaker 1: it just what struck me in bathrooms weren't outfitted very well, 45 00:02:13,680 --> 00:02:16,240 Speaker 1: no snack bar. Right, It's like, wait a minute, this 46 00:02:16,280 --> 00:02:18,519 Speaker 1: a person that just doesn't like the outdoors. That was 47 00:02:18,600 --> 00:02:19,919 Speaker 1: kind of my thoughts, And I was like, I was 48 00:02:19,960 --> 00:02:22,960 Speaker 1: also kind of thinking that your perspective, your outlook is 49 00:02:23,000 --> 00:02:26,079 Speaker 1: kind of key. It has a lot to do with everything. 50 00:02:26,360 --> 00:02:29,080 Speaker 1: And so if you're going to an outdoor nature trail, 51 00:02:29,120 --> 00:02:31,400 Speaker 1: you're hiking a mile and a half to get to 52 00:02:31,520 --> 00:02:34,800 Speaker 1: this cool waterfall that you know where you can wade 53 00:02:34,840 --> 00:02:37,919 Speaker 1: in the pool and play around, and you're deterred by 54 00:02:38,080 --> 00:02:40,160 Speaker 1: a tree that fell down in the middle of the path, 55 00:02:40,440 --> 00:02:43,919 Speaker 1: then maybe this isn't your style, Like maybe this isn't 56 00:02:43,919 --> 00:02:46,760 Speaker 1: your jam, But it just maybe there's so many things 57 00:02:46,760 --> 00:02:50,440 Speaker 1: in life that really our outlook is key. It could 58 00:02:50,440 --> 00:02:52,680 Speaker 1: really make or break the experience that we have in 59 00:02:52,800 --> 00:02:55,120 Speaker 1: so many facets of our lives. And so yeah, I 60 00:02:55,200 --> 00:02:56,639 Speaker 1: kind of chuckled when I read that, but I was 61 00:02:56,680 --> 00:02:59,000 Speaker 1: also like, man, there's like a metaphor here for the 62 00:02:59,000 --> 00:03:00,960 Speaker 1: person who's willing to leave about one star review for 63 00:03:00,960 --> 00:03:03,600 Speaker 1: this like dope waterfall trail. Yeah, honestly, dude, this you 64 00:03:03,639 --> 00:03:04,880 Speaker 1: know reminds me of the fact that kind of have 65 00:03:04,880 --> 00:03:07,400 Speaker 1: a love hate relationship when it comes to different review sites, 66 00:03:07,440 --> 00:03:10,799 Speaker 1: and the ability for folks to provide and feedback, uh 67 00:03:10,840 --> 00:03:13,160 Speaker 1: some input when it comes to certain things like trails 68 00:03:13,360 --> 00:03:15,760 Speaker 1: and even beers, right, Like, I really appreciate the fact 69 00:03:15,800 --> 00:03:17,960 Speaker 1: that I can look up a beer on untapped and 70 00:03:18,080 --> 00:03:21,000 Speaker 1: see just overall what what kind of rating it gets. 71 00:03:21,040 --> 00:03:23,120 Speaker 1: Certainly they're gonna be some haters out there, but like, 72 00:03:23,120 --> 00:03:25,480 Speaker 1: what are your thoughts just in general with like the 73 00:03:25,520 --> 00:03:28,079 Speaker 1: ability to rate things. Well, I think when we leave 74 00:03:28,080 --> 00:03:33,959 Speaker 1: our opinions online, we're more likely to be unfiltered and rude. 75 00:03:34,280 --> 00:03:36,280 Speaker 1: I think that's what the comment section is on the internet, 76 00:03:36,800 --> 00:03:39,640 Speaker 1: or maybe we're maybe more willing to like bash something 77 00:03:39,960 --> 00:03:42,880 Speaker 1: than we otherwise would be. I think if someone asked 78 00:03:43,240 --> 00:03:45,560 Speaker 1: this reviewer after the hike, hey, how is the hike, 79 00:03:45,680 --> 00:03:48,400 Speaker 1: she or he might have been like, yeah, it was 80 00:03:48,520 --> 00:03:51,040 Speaker 1: it was fun, we saw a cool waterfall. But then 81 00:03:51,080 --> 00:03:53,000 Speaker 1: they leave the review and they're like, one star, it 82 00:03:53,040 --> 00:03:56,040 Speaker 1: was the worst day ever. And so I don't know. 83 00:03:56,240 --> 00:03:59,560 Speaker 1: The the online review space is an interesting one. I 84 00:03:59,560 --> 00:04:01,280 Speaker 1: think you have to take those reviews with a grain 85 00:04:01,320 --> 00:04:03,240 Speaker 1: of salt, and you have to read enough to get 86 00:04:04,360 --> 00:04:07,720 Speaker 1: an accurate picture exactly, because if you read two or three, 87 00:04:08,320 --> 00:04:10,320 Speaker 1: you might get the people that were either just like 88 00:04:10,760 --> 00:04:14,000 Speaker 1: they're happy about everything and that's cool. But yeah, if 89 00:04:14,000 --> 00:04:16,600 Speaker 1: you read the negative Nellies, it can completely taint your 90 00:04:16,680 --> 00:04:19,080 Speaker 1: view of something that might end up being good for 91 00:04:19,120 --> 00:04:21,039 Speaker 1: you or working out for you. Yeah, and I feel 92 00:04:21,080 --> 00:04:23,000 Speaker 1: like I mean for you and I. We do read 93 00:04:23,000 --> 00:04:25,160 Speaker 1: the reviews for our podcast and it helps us to 94 00:04:25,240 --> 00:04:26,800 Speaker 1: be able to make small little tweaks here and there. 95 00:04:26,800 --> 00:04:29,000 Speaker 1: But we're not going to just let a single bad 96 00:04:29,040 --> 00:04:31,600 Speaker 1: review take us down. Right. It's somebody that's like, oh, 97 00:04:31,720 --> 00:04:34,120 Speaker 1: don't like beer podcasts, not for me. It's just like, well, 98 00:04:34,160 --> 00:04:35,839 Speaker 1: that's certainly a part of our podcast, but we like 99 00:04:35,880 --> 00:04:38,200 Speaker 1: to talk about a lot of other financially related things 100 00:04:38,360 --> 00:04:40,919 Speaker 1: as well. And you know what a recent review said, 101 00:04:41,160 --> 00:04:42,960 Speaker 1: I don't really like craft beer, but I still love 102 00:04:43,000 --> 00:04:45,520 Speaker 1: this podcast, and those those are kind of reviews I 103 00:04:45,600 --> 00:04:48,800 Speaker 1: like exactly. So well, on that note, let's share that 104 00:04:48,839 --> 00:04:50,799 Speaker 1: on this episode, you and I are going to enjoy 105 00:04:51,120 --> 00:04:54,080 Speaker 1: a Schmoogie Box and you heard me say that correctly. 106 00:04:54,320 --> 00:04:57,560 Speaker 1: We'll talk more about this beer by uh in Print 107 00:04:57,800 --> 00:05:00,240 Speaker 1: Beer Company at the end of this episode. It out. 108 00:05:00,320 --> 00:05:03,280 Speaker 1: Let's get onto the listener questions though, and if you 109 00:05:03,360 --> 00:05:05,000 Speaker 1: have a question you want to ask Matt and I 110 00:05:05,360 --> 00:05:07,200 Speaker 1: and you want us to answer it on an upcoming 111 00:05:07,240 --> 00:05:09,880 Speaker 1: ask HTM episode, just go to how to money dot 112 00:05:09,880 --> 00:05:13,320 Speaker 1: com slash ask. There are simple instructions there for you 113 00:05:13,360 --> 00:05:16,440 Speaker 1: to submit your voice memo and hopefully we can take 114 00:05:16,480 --> 00:05:20,080 Speaker 1: your question on the next ask HTM episode. All right, Matt, 115 00:05:20,160 --> 00:05:23,760 Speaker 1: This first question, though, is about medical tourism. Hi, Joel 116 00:05:23,800 --> 00:05:26,640 Speaker 1: and Matt. My name is Nicole and I'm from North Carolina. 117 00:05:27,120 --> 00:05:29,240 Speaker 1: I'm an avid listener and I'm hoping you can help 118 00:05:29,240 --> 00:05:32,080 Speaker 1: me out with this question. I'll be traveling next month 119 00:05:32,120 --> 00:05:35,599 Speaker 1: to Costa Rica for some medical procedures. I'm able to 120 00:05:35,640 --> 00:05:38,279 Speaker 1: pay at the time of service, and the surgeon is 121 00:05:38,279 --> 00:05:42,400 Speaker 1: requesting cash or cashier's chuck. I can use my credit card, 122 00:05:42,520 --> 00:05:45,680 Speaker 1: but that would also add five onto the cost of surgery. 123 00:05:46,279 --> 00:05:49,679 Speaker 1: Should I carry cash or cashier's check or be safe 124 00:05:49,680 --> 00:05:52,400 Speaker 1: and use my credit card? Thank you so much and 125 00:05:52,440 --> 00:05:55,760 Speaker 1: I appreciate all of your thoughts. All right, Nicole, thanks 126 00:05:55,800 --> 00:05:59,400 Speaker 1: for your question. And first of all, medical tourism totally underrated. 127 00:05:59,520 --> 00:06:04,120 Speaker 1: Speaking of the ability to rate things underrated underutilized, we 128 00:06:04,120 --> 00:06:06,320 Speaker 1: feel like going elsewhere makes sense for a lot of 129 00:06:06,360 --> 00:06:08,680 Speaker 1: folks as far I'm going for my bicep implants, Matt, 130 00:06:09,520 --> 00:06:12,799 Speaker 1: I thought you're more into the cafeine funds right time. Um, 131 00:06:13,160 --> 00:06:15,680 Speaker 1: we feel that this makes sense because of just where 132 00:06:15,760 --> 00:06:17,760 Speaker 1: health prices have gone here in the US they have 133 00:06:17,960 --> 00:06:21,320 Speaker 1: taken off, and the Medical Tourism Association they say that 134 00:06:21,320 --> 00:06:24,640 Speaker 1: you can save up to nine by taking advantage of 135 00:06:24,680 --> 00:06:26,960 Speaker 1: medical tourism, and so that is a lot of money 136 00:06:27,080 --> 00:06:29,839 Speaker 1: when procedures can cost in the tens of thousands of 137 00:06:29,880 --> 00:06:32,960 Speaker 1: dollars even more than that, but most folks will see savings, uh, 138 00:06:33,120 --> 00:06:35,960 Speaker 1: you know, in the fifty to seventy percent range. Recently, 139 00:06:35,960 --> 00:06:39,000 Speaker 1: we had Marshall Allen on and we actually didn't discuss 140 00:06:39,080 --> 00:06:41,240 Speaker 1: medical tourism all that much, but he actually mentioned the 141 00:06:41,240 --> 00:06:44,640 Speaker 1: best health care experience of his life. Uh. And now 142 00:06:44,680 --> 00:06:47,760 Speaker 1: that was actually in Kenya, uh, not here in the US. 143 00:06:48,160 --> 00:06:50,760 Speaker 1: And so yeah, getting certain procedures done in other countries 144 00:06:51,040 --> 00:06:53,240 Speaker 1: can make a lot of sense. It can save you 145 00:06:53,279 --> 00:06:55,080 Speaker 1: a lot of money and allow you to get a 146 00:06:55,080 --> 00:06:56,760 Speaker 1: bit of maybe a little bit of vacation time in 147 00:06:56,800 --> 00:06:59,880 Speaker 1: at the same time. And so the CDC they actually 148 00:07:00,120 --> 00:07:03,040 Speaker 1: a solid overview that will link to in our show notes, 149 00:07:03,080 --> 00:07:05,400 Speaker 1: but that can provide you with some more information. But 150 00:07:05,560 --> 00:07:07,440 Speaker 1: all that to say, it is important to you know, 151 00:07:07,520 --> 00:07:11,280 Speaker 1: to mention that medical tourism does come with risks, and 152 00:07:11,320 --> 00:07:13,160 Speaker 1: you want to make sure that you keep those in mind. 153 00:07:13,240 --> 00:07:16,040 Speaker 1: And again refer to that briefing by the CDC, and 154 00:07:16,120 --> 00:07:18,200 Speaker 1: you want to make sure you're keeping your doctor here 155 00:07:18,240 --> 00:07:21,320 Speaker 1: in the States informed about what you're up to. That's 156 00:07:21,320 --> 00:07:23,920 Speaker 1: an important piece of the puzzle too. And you know, 157 00:07:24,040 --> 00:07:25,640 Speaker 1: Nicole will get to your question in just one second, 158 00:07:25,680 --> 00:07:27,960 Speaker 1: but I want to mention that Costa Rica, where Nicole 159 00:07:28,080 --> 00:07:31,040 Speaker 1: is going matt is quickly becoming one of those top countries, 160 00:07:31,080 --> 00:07:33,200 Speaker 1: one of the biggest destinations in the world when it 161 00:07:33,240 --> 00:07:37,680 Speaker 1: comes to medical tourism. Mexico is becoming a popular destination 162 00:07:37,760 --> 00:07:39,240 Speaker 1: for people to get tental work. You might have to 163 00:07:39,240 --> 00:07:42,120 Speaker 1: go down go down there soon myself if I keep 164 00:07:42,320 --> 00:07:43,960 Speaker 1: to letting go to the going to the dentists. I 165 00:07:44,000 --> 00:07:46,000 Speaker 1: forget the actual name of the town, but there's a 166 00:07:46,000 --> 00:07:48,840 Speaker 1: town of Mexico that everyone refers to as Moehler City 167 00:07:49,240 --> 00:07:51,840 Speaker 1: because because where people go to get like yeah, they're 168 00:07:52,040 --> 00:07:54,640 Speaker 1: their crowns put in or whatever they get, they get 169 00:07:54,880 --> 00:07:57,000 Speaker 1: the head down there it's like right across the border 170 00:07:57,320 --> 00:07:59,840 Speaker 1: and they get their done work done, come on back. 171 00:08:00,360 --> 00:08:03,920 Speaker 1: Hungry apparently is another one of those countries where there's 172 00:08:03,920 --> 00:08:08,120 Speaker 1: just a lot of medical tourism and dental tourism too, 173 00:08:08,200 --> 00:08:10,080 Speaker 1: But that's a little bit further way. I can't imagine 174 00:08:10,120 --> 00:08:12,480 Speaker 1: many how do money listeners going to Hungary for their healthcare. 175 00:08:13,160 --> 00:08:16,840 Speaker 1: But yeah, interestingly enough, the customer care is often superior 176 00:08:16,880 --> 00:08:19,720 Speaker 1: in these locations too. You might even have your own 177 00:08:19,920 --> 00:08:23,080 Speaker 1: private nurse, whereas some of the U S hospitals might 178 00:08:23,120 --> 00:08:26,040 Speaker 1: be a little more short staffed. You might get better 179 00:08:26,080 --> 00:08:30,880 Speaker 1: attention actually by going overseas for your care. And yeah, basically, 180 00:08:30,880 --> 00:08:33,120 Speaker 1: if you're looking to travel to have medical work done, 181 00:08:33,640 --> 00:08:36,000 Speaker 1: here's the thing. You don't want to go just anywhere. 182 00:08:36,040 --> 00:08:37,680 Speaker 1: I think that's what freaks people out. That's why so 183 00:08:37,720 --> 00:08:41,480 Speaker 1: many people don't go, is because you just assume, and 184 00:08:41,840 --> 00:08:44,439 Speaker 1: in many cases rightly so, that the United States has 185 00:08:44,440 --> 00:08:47,080 Speaker 1: the best health care in the world. But there are 186 00:08:47,200 --> 00:08:51,040 Speaker 1: ways to vet a medical facility in a foreign country 187 00:08:51,040 --> 00:08:54,080 Speaker 1: before you book that surgery or dental work. And the 188 00:08:54,120 --> 00:08:56,199 Speaker 1: thing you want to make sure is that it's accredited 189 00:08:56,800 --> 00:09:00,600 Speaker 1: that facility with the Joint Commission International and that it 190 00:09:00,640 --> 00:09:02,800 Speaker 1: goes a long way towards being able to know that 191 00:09:02,840 --> 00:09:05,400 Speaker 1: the doctor and the facility have a reputation that you 192 00:09:05,400 --> 00:09:10,480 Speaker 1: can trust, because this commission vets providers based on world 193 00:09:10,559 --> 00:09:13,280 Speaker 1: health standards. So what they're saying is, hey, does this 194 00:09:13,480 --> 00:09:16,720 Speaker 1: facility in Costa Rica, does this dental center in Mexico? 195 00:09:17,000 --> 00:09:19,880 Speaker 1: Do they meet standards that we would say are sufficient 196 00:09:20,280 --> 00:09:23,040 Speaker 1: for quality care um And if they have that stamp 197 00:09:23,040 --> 00:09:26,000 Speaker 1: of approval, I would feel totally comfortable going and having 198 00:09:26,080 --> 00:09:28,599 Speaker 1: my medical care taking care of their. That's rights. But 199 00:09:28,679 --> 00:09:31,120 Speaker 1: let's go ahead and get to the core of Nicole's question, 200 00:09:31,160 --> 00:09:34,240 Speaker 1: which is how should she be paying for this procedure. Well, 201 00:09:34,280 --> 00:09:35,800 Speaker 1: first of all, we'll say that we're not huge fans 202 00:09:35,800 --> 00:09:39,040 Speaker 1: of her first option, which is paying cash. However, if 203 00:09:39,080 --> 00:09:41,040 Speaker 1: there's an a t M on site where she can 204 00:09:41,080 --> 00:09:44,199 Speaker 1: withdraw cash, that's going to make that option a little 205 00:09:44,320 --> 00:09:47,120 Speaker 1: more appealing. But for instance, if she has to withdraw 206 00:09:47,559 --> 00:09:50,160 Speaker 1: you know, money at an airport a t M and 207 00:09:50,160 --> 00:09:53,160 Speaker 1: then travel with it, well that's a little less appealing 208 00:09:53,360 --> 00:09:57,439 Speaker 1: as a single individual traveling alone in a foreign country. 209 00:09:57,480 --> 00:09:59,960 Speaker 1: But either way, check your debit card for in transaction 210 00:10:00,080 --> 00:10:03,800 Speaker 1: fees first before you make any cash withdrawals a cashier's 211 00:10:03,880 --> 00:10:07,080 Speaker 1: check that you mentioned their Nicole, that's gonna solve some 212 00:10:07,160 --> 00:10:09,400 Speaker 1: of these problems. But it's also worth asking if you 213 00:10:09,400 --> 00:10:12,559 Speaker 1: could use a service like wise dot com used to 214 00:10:12,559 --> 00:10:15,000 Speaker 1: be called transfer wise, now other called wise to transfer 215 00:10:15,120 --> 00:10:19,400 Speaker 1: funds to them instead. Both cashier's checks and digital transfers 216 00:10:19,440 --> 00:10:22,439 Speaker 1: are both really cheap ways to make that payment internationally, 217 00:10:23,000 --> 00:10:26,920 Speaker 1: but neither of them offers the protection that you would 218 00:10:26,920 --> 00:10:28,960 Speaker 1: get with a credit card, which is why both of 219 00:10:28,960 --> 00:10:31,000 Speaker 1: those options, all all those options are gonna be a 220 00:10:31,040 --> 00:10:33,480 Speaker 1: little inferior in our opinion, been using a credit card. 221 00:10:33,600 --> 00:10:35,800 Speaker 1: That's true, Matt, and you mentioned getting cash out of 222 00:10:35,800 --> 00:10:37,280 Speaker 1: an A t M, which is the way you're going 223 00:10:37,320 --> 00:10:40,040 Speaker 1: to pay the least in like currency fees, because like 224 00:10:40,120 --> 00:10:44,040 Speaker 1: let's say Nicole were to go somewhere in the United 225 00:10:44,080 --> 00:10:46,839 Speaker 1: States and get that, get that the coloneates which is 226 00:10:46,880 --> 00:10:50,480 Speaker 1: the costa Rican currency, get that ahead of time. Let's 227 00:10:50,480 --> 00:10:53,160 Speaker 1: say you went to your bank or something nearby. You're 228 00:10:53,160 --> 00:10:55,720 Speaker 1: gonna pay a higher exchange rate to do it there 229 00:10:55,760 --> 00:10:58,640 Speaker 1: than you are going to pay just you know, stagging 230 00:10:58,640 --> 00:11:00,000 Speaker 1: money out of the A t M at the airport. 231 00:11:00,320 --> 00:11:03,160 Speaker 1: But yeah, let's talk about credit cards. Since your surgeon 232 00:11:03,600 --> 00:11:07,680 Speaker 1: does accept credit cards, this is probably the best option 233 00:11:07,720 --> 00:11:11,440 Speaker 1: for you. And you mentioned paying five percent more, Well, 234 00:11:11,920 --> 00:11:14,080 Speaker 1: to pay five percent more for peace of mind isn't 235 00:11:14,120 --> 00:11:17,600 Speaker 1: that bad. But here's the thing. You actually won't be 236 00:11:17,640 --> 00:11:20,079 Speaker 1: paying five percent more if you pay with a card 237 00:11:20,240 --> 00:11:24,000 Speaker 1: that has top notch rewards and zero foreign transaction fees. 238 00:11:24,280 --> 00:11:26,360 Speaker 1: And in fact, if you sign up for a new 239 00:11:26,400 --> 00:11:29,280 Speaker 1: credit card before you go on your trip, this procedure 240 00:11:29,320 --> 00:11:31,200 Speaker 1: alone that you're having done could help you hit a 241 00:11:31,240 --> 00:11:34,560 Speaker 1: spending limit in order to snag a sign up bonus. Uh, 242 00:11:34,720 --> 00:11:37,679 Speaker 1: maybe like the Chase Sapphire card with one thousand, two 243 00:11:37,720 --> 00:11:40,000 Speaker 1: hundred fifty dollars cash back right now, which is still 244 00:11:40,080 --> 00:11:43,080 Speaker 1: the richest sign up bonus we've seen from Chase. And yeah, 245 00:11:43,120 --> 00:11:46,120 Speaker 1: let's say, or from any card issue, right, yeah, it's 246 00:11:46,160 --> 00:11:48,520 Speaker 1: the best one we've really ever seen. And let's say, 247 00:11:48,880 --> 00:11:51,880 Speaker 1: for instance, Nicole, that your procedure cost four thousand dollars, 248 00:11:52,080 --> 00:11:55,240 Speaker 1: you would end up paying a two fee. Yes, but 249 00:11:55,320 --> 00:11:57,080 Speaker 1: and everyone knows Matt and I we don't like feet, 250 00:11:57,080 --> 00:11:58,680 Speaker 1: so why would we tell you to do this? Well, 251 00:11:58,760 --> 00:12:01,000 Speaker 1: you would still come out over a thousand dollars on 252 00:12:01,040 --> 00:12:03,440 Speaker 1: top because of that sign up bonus you would get 253 00:12:03,920 --> 00:12:07,720 Speaker 1: from getting that new Chase card, And yeah, you'll probably 254 00:12:07,760 --> 00:12:11,800 Speaker 1: feel a lot more comfortable not carrying bookoos of foreign 255 00:12:11,800 --> 00:12:15,280 Speaker 1: currency on your person as you're navigating the airport and 256 00:12:15,760 --> 00:12:19,280 Speaker 1: transportation to and from the medical facility. I can understand 257 00:12:19,320 --> 00:12:21,079 Speaker 1: how would make you feel uncomfortable. And so yeah, we 258 00:12:21,120 --> 00:12:23,559 Speaker 1: would say in this case, the fee probably makes sense 259 00:12:23,600 --> 00:12:26,200 Speaker 1: and you can actually somehow make it work to your advantage. 260 00:12:26,200 --> 00:12:27,760 Speaker 1: You can come out on top and pay the fee 261 00:12:27,800 --> 00:12:29,400 Speaker 1: at the same time. Yeah. One of the things that's 262 00:12:29,400 --> 00:12:32,600 Speaker 1: worth noting too is Nicole mentioned that she has the 263 00:12:32,640 --> 00:12:35,640 Speaker 1: ability to pay for that procedure at the time of 264 00:12:35,679 --> 00:12:38,240 Speaker 1: the procedure, which is really important because what we're not 265 00:12:38,280 --> 00:12:41,160 Speaker 1: advocating for here is to use your credit card when 266 00:12:41,200 --> 00:12:43,640 Speaker 1: you don't have the ability to pay for that in 267 00:12:43,679 --> 00:12:46,760 Speaker 1: the here and now. Uh. And obviously the benefit is 268 00:12:46,800 --> 00:12:49,440 Speaker 1: that you don't have to pay you know, right away 269 00:12:49,480 --> 00:12:50,920 Speaker 1: with a credit card. You can wait until the end 270 00:12:50,920 --> 00:12:53,320 Speaker 1: of the month to close out that statement. But we 271 00:12:53,360 --> 00:12:56,360 Speaker 1: don't want you to finance you know, any expenses. And 272 00:12:56,360 --> 00:12:59,480 Speaker 1: that's regardless as to whether or not those expenses take 273 00:12:59,480 --> 00:13:02,920 Speaker 1: place here in US or in Costa Rica. Yeah, Joe, 274 00:13:03,000 --> 00:13:06,400 Speaker 1: so medical tourism. Would you do it? Of course I wouldn't, Okay, 275 00:13:06,400 --> 00:13:08,439 Speaker 1: oh yeah, and actually, like I think, yeah, like what 276 00:13:08,520 --> 00:13:11,000 Speaker 1: we said, there's a lot to love about it, and 277 00:13:11,360 --> 00:13:13,440 Speaker 1: especially if you look at the savings. If you see 278 00:13:13,679 --> 00:13:15,720 Speaker 1: if you get a couple quotes from doctors in your 279 00:13:15,760 --> 00:13:18,599 Speaker 1: area and you're like, uh, yeah, that this just is 280 00:13:18,600 --> 00:13:22,360 Speaker 1: not going to work out and you can save yeah. Well, 281 00:13:22,400 --> 00:13:24,319 Speaker 1: and especially like we said, if you can get you know, 282 00:13:24,360 --> 00:13:27,080 Speaker 1: a few days before the procedure to be able to 283 00:13:27,120 --> 00:13:30,200 Speaker 1: enjoy yourself, you know, even including the cost of your 284 00:13:30,280 --> 00:13:33,520 Speaker 1: airfare and hotels stay potentially if you're still able to say, 285 00:13:34,880 --> 00:13:36,640 Speaker 1: make it happen. I I love that. I would totally 286 00:13:36,640 --> 00:13:38,760 Speaker 1: do it too. I would again, like we said, I 287 00:13:38,760 --> 00:13:41,000 Speaker 1: would be cautious, I would be careful. I would attempt 288 00:13:41,000 --> 00:13:43,559 Speaker 1: to do it the right way, making sure I'm getting 289 00:13:43,720 --> 00:13:46,360 Speaker 1: high quality medical care. But I would totally do it. Yeah. 290 00:13:46,480 --> 00:13:49,559 Speaker 1: I still can't shake the scene in Minority Report where 291 00:13:49,640 --> 00:13:52,960 Speaker 1: Tom Cruise's character he's getting like a double eye transplant, 292 00:13:53,000 --> 00:13:57,880 Speaker 1: like in the sketchy, nasty like apartment building, basically so 293 00:13:57,960 --> 00:13:59,760 Speaker 1: that he's not like found out by the robots because 294 00:14:00,080 --> 00:14:02,600 Speaker 1: they do the ice scans or whatever. He like wakes up. 295 00:14:02,640 --> 00:14:03,760 Speaker 1: He's like in a I feel like he's like in 296 00:14:03,800 --> 00:14:06,600 Speaker 1: a bathtub of like ice. It's just a bad, bad scene. 297 00:14:07,360 --> 00:14:09,720 Speaker 1: It gets really dark, and it had a really big 298 00:14:09,760 --> 00:14:11,839 Speaker 1: impact on me as a kid, thinking I never want 299 00:14:11,840 --> 00:14:14,760 Speaker 1: to wake up somewhere where I'm not sure you know 300 00:14:14,800 --> 00:14:17,040 Speaker 1: where I am or what has just happened to my body. Well, 301 00:14:17,040 --> 00:14:18,600 Speaker 1: this is definitely one of the things where, you know, 302 00:14:18,760 --> 00:14:21,080 Speaker 1: we give the frugal or cheap conundrum, but I think 303 00:14:21,120 --> 00:14:24,360 Speaker 1: if you do it properly, it can be. It can 304 00:14:24,360 --> 00:14:26,160 Speaker 1: be a frugal move for sure. And yeah, best of 305 00:14:26,200 --> 00:14:30,000 Speaker 1: luck to Unicole with these procedures that you're gonna make happen. 306 00:14:30,200 --> 00:14:32,400 Speaker 1: All Right, we got a couple more questions to get to, 307 00:14:32,480 --> 00:14:35,080 Speaker 1: including one actually about credit cards and credit card limits. 308 00:14:35,160 --> 00:14:37,320 Speaker 1: We'll get to that one first right after this break. 309 00:14:46,440 --> 00:14:48,000 Speaker 1: All right, we're back to the break, and we've got 310 00:14:48,000 --> 00:14:50,800 Speaker 1: a question from a listener who was realizing that her 311 00:14:50,880 --> 00:14:53,920 Speaker 1: mom may have been misinformed when it came to credit 312 00:14:53,920 --> 00:14:57,000 Speaker 1: card limits. Let's hear it, Hey, Joelan Matt, my name 313 00:14:57,080 --> 00:15:00,160 Speaker 1: is Julia, and I was just listening to episode for 314 00:15:00,360 --> 00:15:04,880 Speaker 1: twelve of the Listener Questions, where one listener was asking 315 00:15:04,920 --> 00:15:10,080 Speaker 1: about closing his credit card, and you both explained how 316 00:15:10,920 --> 00:15:16,080 Speaker 1: having a lot of debt available to you actually is 317 00:15:16,160 --> 00:15:19,600 Speaker 1: good for your credit score. And this brought up a 318 00:15:19,680 --> 00:15:22,480 Speaker 1: question in my mind because I remember as a kid, 319 00:15:22,640 --> 00:15:25,720 Speaker 1: my mom would always be ticked whenever she saw that 320 00:15:25,800 --> 00:15:29,400 Speaker 1: her credit card limit would go up, and so I 321 00:15:29,440 --> 00:15:34,080 Speaker 1: wanted to ask you, was she right in being ticked 322 00:15:34,080 --> 00:15:38,240 Speaker 1: for some reason or was this just a false impression 323 00:15:38,320 --> 00:15:42,360 Speaker 1: impression she had? Thanks? All right, Matt. We we don't 324 00:15:42,360 --> 00:15:45,720 Speaker 1: want to make Julia feel poorly about her mom. I'm 325 00:15:45,720 --> 00:15:48,040 Speaker 1: sure her mom did a great raising her. It's not 326 00:15:48,080 --> 00:15:51,160 Speaker 1: anything we ever want anyone to feel poorly towards the parents. 327 00:15:51,160 --> 00:15:52,880 Speaker 1: Don't trust your parents, Okay, that's what That's all I 328 00:15:52,880 --> 00:15:55,320 Speaker 1: want to say here. No, Julie, your mom, I'm sure 329 00:15:55,400 --> 00:15:58,520 Speaker 1: wonderful lady. But let's say there's a lot of people 330 00:15:58,600 --> 00:16:01,960 Speaker 1: met that are misinformed about how credit scores work and 331 00:16:02,320 --> 00:16:04,920 Speaker 1: what constitutes a good credit credit score. You know, when 332 00:16:05,040 --> 00:16:08,200 Speaker 1: the credit card company offers you a credit limit increase, 333 00:16:08,360 --> 00:16:10,320 Speaker 1: I can see why a lot of people would be like, 334 00:16:10,640 --> 00:16:12,000 Speaker 1: I don't know. It sounds like you're trying to pull 335 00:16:12,000 --> 00:16:15,400 Speaker 1: the wool over my eyes. And that's understandable because it 336 00:16:15,520 --> 00:16:18,920 Speaker 1: is kind of weird and convoluted how credit scores work sometimes. 337 00:16:19,240 --> 00:16:21,680 Speaker 1: And yeah, Matt and I neither of us, I don't 338 00:16:21,680 --> 00:16:25,000 Speaker 1: think would vouch for the system and say that if 339 00:16:25,040 --> 00:16:27,000 Speaker 1: you can start one from scratch, this is exactly the 340 00:16:27,000 --> 00:16:29,560 Speaker 1: way we draw it up. No, but it is the 341 00:16:29,560 --> 00:16:32,000 Speaker 1: one we've got for the time being. My system would 342 00:16:32,040 --> 00:16:33,760 Speaker 1: have a lot more to do with money in the bank, 343 00:16:34,000 --> 00:16:38,160 Speaker 1: because I mean that has like basically no standing on 344 00:16:38,840 --> 00:16:41,080 Speaker 1: our credit scores, which is ridiculous. Well, we had a 345 00:16:41,080 --> 00:16:43,120 Speaker 1: friend recently who's trying to apply for a mortgage and 346 00:16:43,160 --> 00:16:47,280 Speaker 1: he literally has multimillion dollar net worth, but he's he's 347 00:16:47,280 --> 00:16:51,080 Speaker 1: also retired early, and the bank says, well, what's your 348 00:16:51,120 --> 00:16:52,720 Speaker 1: what's your income? And he says, I don't have one. 349 00:16:52,800 --> 00:16:54,800 Speaker 1: I don't have a job, but I have millions of 350 00:16:54,840 --> 00:16:58,440 Speaker 1: dollars in my investment accounts over here. And they're like, yeah, 351 00:16:58,560 --> 00:17:00,600 Speaker 1: we don't really look at that when it comes to 352 00:17:00,880 --> 00:17:03,440 Speaker 1: approving you for the mortgage. So it gets a little silly, 353 00:17:03,760 --> 00:17:05,800 Speaker 1: And yeah, for for most folks, it really is. It's 354 00:17:05,840 --> 00:17:08,680 Speaker 1: kind of like turning on a sporting event from another country. 355 00:17:08,880 --> 00:17:11,960 Speaker 1: Like let's say, Matt, have you ever watched a cricket 356 00:17:12,000 --> 00:17:14,720 Speaker 1: match before in your life. No, although nearby there's a 357 00:17:14,760 --> 00:17:18,080 Speaker 1: park where there's a lot of international students, uh, and 358 00:17:18,119 --> 00:17:19,560 Speaker 1: they like to gather in that park, and I see 359 00:17:19,600 --> 00:17:21,840 Speaker 1: them down there playing cricket. I have no idea how 360 00:17:21,840 --> 00:17:24,000 Speaker 1: it works, though, me neither, Like I've always kind of 361 00:17:24,040 --> 00:17:26,520 Speaker 1: wondered because I kind of grew up watching baseball, and 362 00:17:26,520 --> 00:17:29,080 Speaker 1: I'm like, how similar are they? But there's a lot 363 00:17:29,119 --> 00:17:31,400 Speaker 1: of weird rules, and so I totally would not understand 364 00:17:31,640 --> 00:17:33,680 Speaker 1: what's going on, and or at least they were weird 365 00:17:33,680 --> 00:17:36,600 Speaker 1: for my estimation. But the same really is true for 366 00:17:36,640 --> 00:17:39,159 Speaker 1: our credit system here in the US, and sadly, a 367 00:17:39,200 --> 00:17:42,600 Speaker 1: lot of Americans are just not giving their credit scores 368 00:17:42,920 --> 00:17:45,400 Speaker 1: um the time of day, and those who are paying 369 00:17:45,440 --> 00:17:48,040 Speaker 1: attention may not even understand how they work since the 370 00:17:48,160 --> 00:17:51,840 Speaker 1: rules are so incredibly muddy. Luckily, they're not as money 371 00:17:51,880 --> 00:17:54,119 Speaker 1: as whack Bat, which is the remember that game from 372 00:17:54,200 --> 00:17:57,560 Speaker 1: Fantestic Mr. Fox. It's like similar to cricket, but just 373 00:17:57,640 --> 00:18:01,320 Speaker 1: like even more complicated and nonsensical. Still one of my 374 00:18:01,320 --> 00:18:04,399 Speaker 1: favorite movies. Very it's very good. Uh. And so you know, Julie, 375 00:18:04,520 --> 00:18:06,240 Speaker 1: it does sound like your mom was confused about the 376 00:18:06,320 --> 00:18:08,880 Speaker 1: rules when it comes to her credit score. Again, that's 377 00:18:08,920 --> 00:18:12,120 Speaker 1: that's understandable because it makes sense that having more debt 378 00:18:12,119 --> 00:18:14,480 Speaker 1: offered to you would be a bad thing, right, But 379 00:18:14,560 --> 00:18:17,439 Speaker 1: in the this convoluted world of credit scores, it's almost 380 00:18:17,520 --> 00:18:20,159 Speaker 1: like this badge of honor. What the credit bureaus and 381 00:18:20,400 --> 00:18:23,199 Speaker 1: potential lenders want to see is that you have access 382 00:18:23,240 --> 00:18:26,040 Speaker 1: to different types of credit while using very little of 383 00:18:26,040 --> 00:18:29,080 Speaker 1: what's actually available to you. It might be akin to 384 00:18:29,320 --> 00:18:32,560 Speaker 1: someone advising you on your diet and then they kind 385 00:18:32,560 --> 00:18:34,040 Speaker 1: of test you by putting a box of donuts in 386 00:18:34,080 --> 00:18:36,080 Speaker 1: front of you to see if you have the willpower, 387 00:18:36,119 --> 00:18:38,840 Speaker 1: the self control, the not eating any It's kind of 388 00:18:38,880 --> 00:18:41,600 Speaker 1: messed up, but that's actually kind of how it works 389 00:18:41,600 --> 00:18:43,520 Speaker 1: when it comes to credit. It's like, hey, look at 390 00:18:43,600 --> 00:18:45,880 Speaker 1: all of these things that are available to you. If 391 00:18:45,880 --> 00:18:49,119 Speaker 1: you touch them, you're gonna get punished. Yeah it is. 392 00:18:49,240 --> 00:18:53,280 Speaker 1: It's exactly like that. And hopefully, yeah, your dietitian would 393 00:18:53,320 --> 00:18:54,879 Speaker 1: not put a box of donuts in front of you 394 00:18:54,880 --> 00:18:57,080 Speaker 1: and just, you know, see if you can resist. But 395 00:18:57,080 --> 00:18:58,760 Speaker 1: that's how it works in credit scores. That that reminds 396 00:18:58,760 --> 00:19:01,320 Speaker 1: me of another movie of Todd Paul. When I think 397 00:19:01,600 --> 00:19:05,320 Speaker 1: Penn Stiller's character is like giving himself an electric zap 398 00:19:05,359 --> 00:19:07,760 Speaker 1: every time he eats a donut. But yeah, let's let's 399 00:19:07,800 --> 00:19:09,800 Speaker 1: move on. So let's talk about the main things that 400 00:19:10,119 --> 00:19:13,439 Speaker 1: actually do make up your credit score. Credit utilization is 401 00:19:13,480 --> 00:19:16,400 Speaker 1: the second biggest factor. That's really what we're talking about here. 402 00:19:16,680 --> 00:19:19,720 Speaker 1: It's basically ideal to have a giant balance that you 403 00:19:19,840 --> 00:19:22,920 Speaker 1: use very little of. And the specific amount that you 404 00:19:22,920 --> 00:19:24,879 Speaker 1: want to shoot for is to be using on a 405 00:19:24,920 --> 00:19:29,359 Speaker 1: monthly basis of the credit that you have available or less. 406 00:19:29,760 --> 00:19:34,640 Speaker 1: And so let's say you do have a dollar limits 407 00:19:34,720 --> 00:19:38,000 Speaker 1: on your credit card, using at most in a month 408 00:19:38,359 --> 00:19:40,600 Speaker 1: is going to be ideal when it comes to your 409 00:19:40,600 --> 00:19:43,600 Speaker 1: credit score. And yeah, the top factor, though, is whether 410 00:19:43,600 --> 00:19:45,320 Speaker 1: you pay your bills on time and in full. And 411 00:19:45,320 --> 00:19:48,239 Speaker 1: I guess that one actually does make sense, even though 412 00:19:48,280 --> 00:19:51,440 Speaker 1: the credit utilization is a bit convoluted. Just those two 413 00:19:51,440 --> 00:19:54,840 Speaker 1: factors alone though, they make up like two thirds of 414 00:19:54,880 --> 00:19:57,760 Speaker 1: your score. And so if you're doing those two things well, 415 00:19:58,000 --> 00:20:00,240 Speaker 1: if you are paying your bills on time and in full, 416 00:20:00,359 --> 00:20:03,200 Speaker 1: and you're using very little of that available credit, then 417 00:20:03,400 --> 00:20:07,240 Speaker 1: your credit score is mostly going to be fine. The 418 00:20:07,240 --> 00:20:10,320 Speaker 1: the other three things that impact you are your length 419 00:20:10,320 --> 00:20:14,520 Speaker 1: of credit history, opening new credit, and uh, the mix 420 00:20:14,560 --> 00:20:16,720 Speaker 1: of credit that you have, so having like a credit 421 00:20:16,760 --> 00:20:19,320 Speaker 1: card and a mortgage and a student loan, basically the 422 00:20:19,400 --> 00:20:22,720 Speaker 1: more different types of crediting. This guy has the trifecta. 423 00:20:24,640 --> 00:20:27,240 Speaker 1: His score really goes up, when in reality it's like, well, 424 00:20:27,640 --> 00:20:29,520 Speaker 1: I mean, is that a good reason to see your 425 00:20:29,520 --> 00:20:32,000 Speaker 1: score go up? Right? Yeah? And the number of credit 426 00:20:32,000 --> 00:20:34,000 Speaker 1: cards you have, Like, that's gonna be a good thing too. 427 00:20:34,000 --> 00:20:36,120 Speaker 1: If you have five credit cards you that you handle 428 00:20:36,160 --> 00:20:38,480 Speaker 1: well versus just one, that's gonna work out better in 429 00:20:38,520 --> 00:20:41,280 Speaker 1: your favor as well. But yeah, there's a lot of 430 00:20:41,280 --> 00:20:44,440 Speaker 1: those factors, a lot of those things impacting ultimately that 431 00:20:44,640 --> 00:20:46,760 Speaker 1: three digit score you're gonna see at the end of 432 00:20:46,760 --> 00:20:48,719 Speaker 1: the day. But really, when it comes down to it, 433 00:20:49,000 --> 00:20:53,359 Speaker 1: that increased credit limit is a really good thing. That's right, Julie. 434 00:20:53,400 --> 00:20:56,119 Speaker 1: It's gonna be good for your credit score. And it's 435 00:20:56,160 --> 00:20:57,960 Speaker 1: not the way that we would have designed it, but 436 00:20:58,040 --> 00:21:00,440 Speaker 1: those are the rules, and so your mom and all 437 00:21:00,440 --> 00:21:03,000 Speaker 1: of us actually should be excited next time the credit 438 00:21:03,000 --> 00:21:05,480 Speaker 1: card company bumps up our credit limit. This actually happened 439 00:21:05,480 --> 00:21:07,439 Speaker 1: to me recently. I got a new credit card for 440 00:21:07,560 --> 00:21:09,880 Speaker 1: some specific spending that I won't get into just now, 441 00:21:10,280 --> 00:21:13,399 Speaker 1: but uh, I was kind of we're all curious. It's 442 00:21:13,440 --> 00:21:16,040 Speaker 1: a car specifically for going out to eat four times 443 00:21:16,359 --> 00:21:18,520 Speaker 1: the rewards on going out to eat. So well, we'll 444 00:21:18,520 --> 00:21:20,440 Speaker 1: talk about it soon because I'm gonna have to update 445 00:21:20,480 --> 00:21:22,800 Speaker 1: the different cards and I carry my wallet because I've 446 00:21:22,800 --> 00:21:26,440 Speaker 1: gotten hyper specific with them. But I was bummed because 447 00:21:26,480 --> 00:21:30,159 Speaker 1: initially my credit limit was only and I thought, that 448 00:21:30,359 --> 00:21:33,160 Speaker 1: is that's I mean, that's that's not very high. That's 449 00:21:33,160 --> 00:21:35,320 Speaker 1: a very little limit. Did you say, don't you know 450 00:21:35,320 --> 00:21:36,920 Speaker 1: who I am? And it's not because I was gonna 451 00:21:36,920 --> 00:21:40,160 Speaker 1: spend twe every single month on that card, but it's 452 00:21:40,160 --> 00:21:43,080 Speaker 1: just because I wanted to steer clear of approaching, you know, 453 00:21:43,119 --> 00:21:47,280 Speaker 1: any anything near ten percent of my overall credit limit. 454 00:21:47,359 --> 00:21:49,000 Speaker 1: But a month later, you know, they saw that I 455 00:21:49,040 --> 00:21:50,919 Speaker 1: was a big boy. They bumped that up literally from 456 00:21:50,960 --> 00:21:53,240 Speaker 1: twelve to twelve thousand dollars, and I was like, okay, 457 00:21:53,400 --> 00:21:56,000 Speaker 1: that puts me in a much more comfortable position. And 458 00:21:56,040 --> 00:21:58,000 Speaker 1: so by default, this will make us look better from 459 00:21:58,200 --> 00:22:01,040 Speaker 1: a credit perspective, But we all need to make sure 460 00:22:01,080 --> 00:22:04,239 Speaker 1: that we're being disciplined enough to uh not let that 461 00:22:04,280 --> 00:22:07,560 Speaker 1: increased limit affect how much we are going to actually spend. 462 00:22:08,160 --> 00:22:10,320 Speaker 1: Just because the credit card company says that you now 463 00:22:10,359 --> 00:22:14,040 Speaker 1: have access to you know, dollars instead of two hundred dollars, 464 00:22:14,560 --> 00:22:17,240 Speaker 1: that doesn't mean that you should use it. Uh, And Julie, 465 00:22:17,280 --> 00:22:20,840 Speaker 1: in your case, maybe your mom was incredibly wise and 466 00:22:20,920 --> 00:22:23,480 Speaker 1: she was focusing on the discipline side of things, right. 467 00:22:23,480 --> 00:22:26,560 Speaker 1: She knew that with that increased limit that might be 468 00:22:26,640 --> 00:22:29,200 Speaker 1: tempting her to spend money when she shouldn't have. So 469 00:22:29,320 --> 00:22:31,560 Speaker 1: maybe in the end, your mom had it right. Maybe 470 00:22:31,560 --> 00:22:33,879 Speaker 1: she actually knew that that was going to be a 471 00:22:33,920 --> 00:22:36,560 Speaker 1: bad thing for her personally. Oftentimes it does come down 472 00:22:36,600 --> 00:22:38,719 Speaker 1: to knowing ourselves and how it is that we are 473 00:22:38,720 --> 00:22:41,600 Speaker 1: going to respond to different changes in our finances like 474 00:22:41,640 --> 00:22:43,439 Speaker 1: that right now, now you made me feel bad for 475 00:22:43,480 --> 00:22:46,680 Speaker 1: calling out Julius mom, and uh, positive spin, that's all 476 00:22:47,000 --> 00:22:48,960 Speaker 1: that's good. And now I feel bad and I'm sorry. 477 00:22:49,000 --> 00:22:53,919 Speaker 1: I apologize to Julius mom. But sorry, Julius. All right, well, Julia, 478 00:22:53,960 --> 00:22:56,320 Speaker 1: hopefully that answers your question. And I think that is 479 00:22:56,359 --> 00:22:59,840 Speaker 1: a good point because sometimes that that behavioral side. We 480 00:22:59,840 --> 00:23:01,680 Speaker 1: talked about it a lot, that behavioral side of money 481 00:23:01,760 --> 00:23:04,880 Speaker 1: has a huge impact on us. And if someone says Hey, 482 00:23:04,880 --> 00:23:06,400 Speaker 1: out of the blue, guess what you have an extra 483 00:23:06,520 --> 00:23:08,800 Speaker 1: ten dollars you can spend if you want to a 484 00:23:08,840 --> 00:23:10,560 Speaker 1: lot of people, that's how people get into trouble. A 485 00:23:10,600 --> 00:23:12,560 Speaker 1: lot of people do take advantage of it, and so 486 00:23:12,760 --> 00:23:15,120 Speaker 1: it is right and important to mention that. But let's 487 00:23:15,119 --> 00:23:17,119 Speaker 1: get to our next question, Matt, and this one is 488 00:23:17,200 --> 00:23:21,800 Speaker 1: about investing where you live. Hi, Joel Hi, Matt Brandon 489 00:23:21,840 --> 00:23:24,239 Speaker 1: from Portland, Oregon. Here. I love the show, especially how 490 00:23:24,280 --> 00:23:27,399 Speaker 1: you and your guests are so mindful about building financial literacy. 491 00:23:27,640 --> 00:23:29,840 Speaker 1: My question for you is, how can those of us 492 00:23:29,840 --> 00:23:33,520 Speaker 1: without deep pockets invest in businesses that are not publicly traded, 493 00:23:34,080 --> 00:23:36,440 Speaker 1: Knowing this may be hard to do within a retirement account, 494 00:23:36,560 --> 00:23:39,320 Speaker 1: how can I put taxable investment dollars to work investing 495 00:23:39,320 --> 00:23:41,680 Speaker 1: in the expansion of the neighborhood brewery or growth of 496 00:23:41,720 --> 00:23:44,639 Speaker 1: our favorite local condiment maker. If you had five thousand 497 00:23:44,680 --> 00:23:48,439 Speaker 1: dollars to invest locally, where would you start? Thanks? All right, Brandon, 498 00:23:48,440 --> 00:23:51,879 Speaker 1: thanks for that question, and we appreciate you listening, and 499 00:23:51,920 --> 00:23:54,119 Speaker 1: thanks to for that note about financial literacy. We we 500 00:23:54,119 --> 00:23:56,639 Speaker 1: definitely want to make sure that folks with normal lives, 501 00:23:56,640 --> 00:23:59,840 Speaker 1: normal incomes are are not only increasing their levels of 502 00:24:00,040 --> 00:24:02,879 Speaker 1: financial literacy. But but we're also on a mission to 503 00:24:02,920 --> 00:24:04,879 Speaker 1: make sure that everyone out there is aware that they 504 00:24:04,880 --> 00:24:08,160 Speaker 1: can achieve the ultimate goal of financial freedom. We want 505 00:24:08,160 --> 00:24:10,800 Speaker 1: to consistently make it clear that you don't need super 506 00:24:10,840 --> 00:24:13,679 Speaker 1: deep pockets in order to build wealth. Yeah, and I 507 00:24:13,720 --> 00:24:15,760 Speaker 1: think that's that's what turns a lot of people off 508 00:24:15,840 --> 00:24:18,760 Speaker 1: from investing advice, from money advice in general, is they're like, 509 00:24:18,800 --> 00:24:20,840 Speaker 1: I don't have enough money to listen to that. But 510 00:24:20,960 --> 00:24:23,600 Speaker 1: that's not true. You can be fresh out of college 511 00:24:23,720 --> 00:24:25,800 Speaker 1: making it, you know, your first job. You can be 512 00:24:25,840 --> 00:24:28,080 Speaker 1: in high school still trying to learn the ropes um 513 00:24:28,119 --> 00:24:32,760 Speaker 1: there is. I hopefully someone of every age and money 514 00:24:32,760 --> 00:24:36,160 Speaker 1: background can learn and apply the concepts we talk about 515 00:24:36,160 --> 00:24:37,920 Speaker 1: here at how the money. That's the goal at least. 516 00:24:38,320 --> 00:24:42,119 Speaker 1: But let's get onto Brandon's question about investing locally. Matt, 517 00:24:42,119 --> 00:24:45,919 Speaker 1: this is a toughie. And first, it often involves taking 518 00:24:45,960 --> 00:24:49,720 Speaker 1: on a lot more risk to invest in just one 519 00:24:49,760 --> 00:24:53,280 Speaker 1: company near where you live. It can involve locking up 520 00:24:53,280 --> 00:24:55,960 Speaker 1: your money for a lot longer than you might be 521 00:24:56,000 --> 00:24:58,920 Speaker 1: comfortable with if you're going to invest in a local business. 522 00:24:59,240 --> 00:25:02,960 Speaker 1: And let's take the example that Brandon mentioned of investing 523 00:25:02,960 --> 00:25:05,320 Speaker 1: in a local brewery, which was a great example, by 524 00:25:05,320 --> 00:25:07,640 Speaker 1: the way, right it is, It's one of the perfect examples. 525 00:25:07,840 --> 00:25:10,000 Speaker 1: He's asking the right guys, not just because we love beer, 526 00:25:10,240 --> 00:25:12,920 Speaker 1: but let's uh, like, I have a friend actually who 527 00:25:12,960 --> 00:25:16,440 Speaker 1: started a brewery and he took on investors. His brewery 528 00:25:16,560 --> 00:25:19,919 Speaker 1: is open now and his beers are excellent and some 529 00:25:20,000 --> 00:25:22,879 Speaker 1: of the best in Atlanta, exactly, And yeah, my guess 530 00:25:22,920 --> 00:25:25,920 Speaker 1: is that those investors will see a return at some point, 531 00:25:25,960 --> 00:25:28,240 Speaker 1: which is great, but they're gonna have to be patient. 532 00:25:28,720 --> 00:25:30,760 Speaker 1: And if I remember correctly, the minimum that you could 533 00:25:30,800 --> 00:25:34,440 Speaker 1: come to the table with was twenty thousand dollars. Right. 534 00:25:34,520 --> 00:25:36,879 Speaker 1: That's a lot of money, and that's a lot of 535 00:25:36,960 --> 00:25:40,280 Speaker 1: eggs in one basket. Most people they have to, you know, 536 00:25:40,560 --> 00:25:42,720 Speaker 1: write it off immediately. I don't have that kind of money, 537 00:25:42,920 --> 00:25:47,520 Speaker 1: but other people who do would still be reticent, understandably, 538 00:25:47,680 --> 00:25:50,679 Speaker 1: to put that much in one local business. I personally 539 00:25:50,680 --> 00:25:53,000 Speaker 1: didn't feel financially ready for it at the time, even 540 00:25:53,040 --> 00:25:54,960 Speaker 1: though I had this huge desire to see him launch 541 00:25:55,000 --> 00:25:57,880 Speaker 1: and become successful. And now that he is doing crushing 542 00:25:57,920 --> 00:26:00,320 Speaker 1: it like it brings me a lot of joy. But 543 00:26:00,520 --> 00:26:03,160 Speaker 1: still I think I made the right decision because that's 544 00:26:03,160 --> 00:26:05,960 Speaker 1: a big risk that I would have been taking on. Yeah, 545 00:26:05,960 --> 00:26:08,280 Speaker 1: our friend the physician on Fire, he wrote a great 546 00:26:08,359 --> 00:26:11,600 Speaker 1: article about investing ten thousand dollars in a local brewery 547 00:26:11,720 --> 00:26:15,040 Speaker 1: specifically as well. He went into it knowing that this 548 00:26:15,119 --> 00:26:17,280 Speaker 1: is probably going to be a bad investment, but he 549 00:26:17,320 --> 00:26:20,280 Speaker 1: did it anyway. Uh And actually the literal title of 550 00:26:20,280 --> 00:26:23,119 Speaker 1: that article is I made a bad ten investments, So 551 00:26:23,160 --> 00:26:26,000 Speaker 1: he really telegraphed there. Yeah, he knew what He will 552 00:26:26,000 --> 00:26:27,800 Speaker 1: link to that one in the show notes. But he 553 00:26:27,880 --> 00:26:31,120 Speaker 1: wanted to help fund a hometown brewery and he had 554 00:26:31,160 --> 00:26:33,440 Speaker 1: hopes of being able to drink delicious beer right around 555 00:26:33,440 --> 00:26:35,680 Speaker 1: the corner from his house. And that hope for him 556 00:26:35,760 --> 00:26:38,639 Speaker 1: was realized. But he didn't have high hopes of a 557 00:26:38,720 --> 00:26:43,000 Speaker 1: solid return on his investment. Any investment in a local business, 558 00:26:43,359 --> 00:26:46,399 Speaker 1: especially a local brick and mortar business where there's a 559 00:26:46,400 --> 00:26:49,520 Speaker 1: lot of overhead, especially if you're talking about a local 560 00:26:49,520 --> 00:26:52,119 Speaker 1: business like a restaurant, these are all going to be 561 00:26:52,240 --> 00:26:55,520 Speaker 1: higher risk ventures and it is important to approach those 562 00:26:55,520 --> 00:26:57,960 Speaker 1: and those quote unquote investments with that in mind. You 563 00:26:57,960 --> 00:26:59,639 Speaker 1: need to go at it with that mindset. Okay, So 564 00:26:59,720 --> 00:27:01,080 Speaker 1: here's a we would say, because we don't want to 565 00:27:01,560 --> 00:27:05,120 Speaker 1: completely destroy brandage dreams of investing in awesome local companies. 566 00:27:05,400 --> 00:27:07,639 Speaker 1: That was us just hedging the advice now that we're 567 00:27:07,680 --> 00:27:10,160 Speaker 1: about to give exactly like, listen, it's probably not gonna 568 00:27:10,160 --> 00:27:12,239 Speaker 1: work out, and there's a good chance you could lose 569 00:27:12,240 --> 00:27:13,679 Speaker 1: all your money and it's too much, don't do it. 570 00:27:14,040 --> 00:27:16,399 Speaker 1: That's not what we're saying, right, But if you're going 571 00:27:16,480 --> 00:27:19,240 Speaker 1: to invest locally, only do so if you're already doing 572 00:27:19,240 --> 00:27:23,159 Speaker 1: a great job investing in the other areas of your life. Specifically, 573 00:27:23,200 --> 00:27:26,240 Speaker 1: if you've been doing well funneling money into tax advantage 574 00:27:26,280 --> 00:27:30,040 Speaker 1: retirement accounts for a number of years, for quite a 575 00:27:30,040 --> 00:27:32,360 Speaker 1: long time, if you've been building up a solid nest 576 00:27:32,359 --> 00:27:35,080 Speaker 1: egg for your retirement inside of the number one place 577 00:27:35,119 --> 00:27:37,320 Speaker 1: you should be doing that, then it can be more 578 00:27:37,320 --> 00:27:39,720 Speaker 1: on your radar. And here's the thing. If you can't 579 00:27:39,760 --> 00:27:42,640 Speaker 1: go into it with the mindset that our friend Physician 580 00:27:42,680 --> 00:27:45,800 Speaker 1: on Fire had, knowing that it's likely a bad investment 581 00:27:45,920 --> 00:27:47,600 Speaker 1: and that there's a good chance that you won't see 582 00:27:47,600 --> 00:27:50,240 Speaker 1: a return on that money, much less even being able 583 00:27:50,280 --> 00:27:52,399 Speaker 1: to see a return of those initial dollars that you 584 00:27:52,480 --> 00:27:54,960 Speaker 1: put in, then we would say it's too risky. Of 585 00:27:55,119 --> 00:27:58,200 Speaker 1: a venture for you. It's kind of like putting money 586 00:27:58,240 --> 00:28:00,800 Speaker 1: in cryptocurrency. It's not a bad idea to own just 587 00:28:00,840 --> 00:28:02,960 Speaker 1: a little bit, but only if you're crushing it in 588 00:28:03,000 --> 00:28:06,159 Speaker 1: the important areas first, and you realize the severe risks 589 00:28:06,240 --> 00:28:08,320 Speaker 1: that come alongside doing so. Yeah, you need to have 590 00:28:08,359 --> 00:28:12,920 Speaker 1: your investments priorities in place. And Brandon, here's another piece 591 00:28:12,960 --> 00:28:14,880 Speaker 1: of advice to then. You know, I feel like this 592 00:28:14,920 --> 00:28:16,680 Speaker 1: is gonna sound a little bit lame. I know it's 593 00:28:16,680 --> 00:28:18,960 Speaker 1: probably not what you want to hear, but instead of 594 00:28:19,000 --> 00:28:22,399 Speaker 1: investing in that business hoping for growth, invest your dollars 595 00:28:22,560 --> 00:28:25,320 Speaker 1: in the products that the company makes. You know, for instance, 596 00:28:25,359 --> 00:28:27,960 Speaker 1: you mentioned like local condiments. I have no idea what 597 00:28:28,000 --> 00:28:30,120 Speaker 1: you're talking about there, but it sounds kind of awesome. 598 00:28:30,680 --> 00:28:33,680 Speaker 1: You can keep the hinds shaming catch up, keep that 599 00:28:33,720 --> 00:28:35,879 Speaker 1: stuff stocked up in your fridge, and maybe sends on 600 00:28:35,920 --> 00:28:38,320 Speaker 1: my way to that if it's like and I bet 601 00:28:38,360 --> 00:28:40,680 Speaker 1: this already exists, honestly, but I always like combining a 602 00:28:40,720 --> 00:28:42,360 Speaker 1: little bit of catch up with a little bit saracha. 603 00:28:42,960 --> 00:28:45,280 Speaker 1: Sarracha on its own, it brings good heat, but I 604 00:28:45,280 --> 00:28:47,120 Speaker 1: feel like there's not enough flavor, and that catch up 605 00:28:47,160 --> 00:28:51,000 Speaker 1: brings enough acidity, enough sweetness, enough salt nous. That's what 606 00:28:51,080 --> 00:28:54,000 Speaker 1: I like personally. But this also makes me think of 607 00:28:54,040 --> 00:28:56,880 Speaker 1: another kind of brewery. Specific example, Brandon, one of our 608 00:28:56,920 --> 00:29:00,560 Speaker 1: other local favorite breweries, Monday Night Brewing, they the special 609 00:29:00,600 --> 00:29:03,280 Speaker 1: Club that they called the Garage Club back in the day, 610 00:29:03,280 --> 00:29:05,400 Speaker 1: where you paid a premium to be a special member 611 00:29:05,440 --> 00:29:09,320 Speaker 1: with access to different limited release beers, to get special 612 00:29:09,360 --> 00:29:13,320 Speaker 1: merchandise other goodies like that. It wasn't necessarily a deal 613 00:29:13,520 --> 00:29:17,600 Speaker 1: per se, but those members and that additional funding allowed 614 00:29:17,640 --> 00:29:21,240 Speaker 1: them to offset the cost of experimenting on some of 615 00:29:21,320 --> 00:29:24,960 Speaker 1: their newer interesting beers, which was essentially the beginning of 616 00:29:25,000 --> 00:29:27,960 Speaker 1: their barrel aging program, which looking back now, I'm just like, 617 00:29:28,000 --> 00:29:29,880 Speaker 1: oh man, that was pretty cool to have gotten in 618 00:29:29,920 --> 00:29:33,040 Speaker 1: on the ground floor of Granted it wasn't nearly five 619 00:29:33,080 --> 00:29:35,320 Speaker 1: thousand dollars. It cost me a whole lot less money 620 00:29:35,600 --> 00:29:38,720 Speaker 1: to get involved with that, but the ability to participate, 621 00:29:38,840 --> 00:29:40,760 Speaker 1: you know, kind of even on a more consumer level, 622 00:29:40,800 --> 00:29:43,120 Speaker 1: was really gratifying. And so we would encourage you to 623 00:29:43,200 --> 00:29:45,360 Speaker 1: maybe even reach out to some of these local companies 624 00:29:45,640 --> 00:29:48,600 Speaker 1: directly and see if they have any kind of program, 625 00:29:48,800 --> 00:29:51,440 Speaker 1: like just something that you could participate in and you know, 626 00:29:51,480 --> 00:29:54,200 Speaker 1: if maybe they don't, but if you and others, if 627 00:29:54,240 --> 00:29:56,600 Speaker 1: there are enough folks reaching out to them, that might 628 00:29:56,640 --> 00:29:58,960 Speaker 1: be something that they prioritize and create and that would 629 00:29:58,960 --> 00:30:01,360 Speaker 1: allow you to participate on a more local level. But again, 630 00:30:01,560 --> 00:30:03,000 Speaker 1: just like what Joel said, you need to make sure 631 00:30:03,120 --> 00:30:05,800 Speaker 1: you've got all of your other investing basics taken care 632 00:30:05,880 --> 00:30:07,880 Speaker 1: of first. You need to have your priorities in place, 633 00:30:08,320 --> 00:30:10,320 Speaker 1: and no matter what, just like we you know, like 634 00:30:10,320 --> 00:30:12,880 Speaker 1: you said Joel with Crypto, we wouldn't recommend you putting 635 00:30:12,920 --> 00:30:16,000 Speaker 1: any more than five percent of your overall portfolio into 636 00:30:16,120 --> 00:30:18,800 Speaker 1: a single company like this because, uh, you know, in 637 00:30:18,800 --> 00:30:20,760 Speaker 1: our opinion, that has too much risk. So the immediate 638 00:30:20,840 --> 00:30:22,200 Speaker 1: rule of thumb would be to say, if you're looking 639 00:30:22,240 --> 00:30:24,200 Speaker 1: to invest five thousand, don't do it unless you have 640 00:30:24,200 --> 00:30:27,160 Speaker 1: a hundred thousand dollars in net worth invested inside of 641 00:30:27,160 --> 00:30:30,160 Speaker 1: retirement accounts. Boom ye. If that's not the case, then 642 00:30:30,600 --> 00:30:34,000 Speaker 1: you know, keep waiting, Brandon. But eventually, hopefully you're able 643 00:30:34,040 --> 00:30:37,240 Speaker 1: to not just uh enjoy the products that some of 644 00:30:37,280 --> 00:30:40,760 Speaker 1: these local businesses make, but you're able to in some 645 00:30:40,840 --> 00:30:44,120 Speaker 1: way fund their business, which which would be awesome. I 646 00:30:44,200 --> 00:30:46,160 Speaker 1: love that as a goal It's just one of those 647 00:30:46,200 --> 00:30:49,600 Speaker 1: things that can be really tricky, and it actually isn't 648 00:30:49,680 --> 00:30:51,680 Speaker 1: very lucrative in many cases to it really has to 649 00:30:51,680 --> 00:30:54,240 Speaker 1: be just done out of out of love and care 650 00:30:54,280 --> 00:30:56,560 Speaker 1: for your community, which I think is still a good 651 00:30:56,560 --> 00:30:58,920 Speaker 1: reason to do it if you're financially ready to do so. 652 00:30:59,240 --> 00:31:02,320 Speaker 1: But Matt, let's get too. Couple more questions, including one 653 00:31:02,560 --> 00:31:05,160 Speaker 1: about F S A S and then another one about 654 00:31:05,280 --> 00:31:17,040 Speaker 1: h Essays will hit both right after this break. All right, 655 00:31:17,080 --> 00:31:18,960 Speaker 1: we were back from the brig F S A S 656 00:31:19,240 --> 00:31:21,320 Speaker 1: H S A S. What do all the acronyms mean? Well, 657 00:31:21,400 --> 00:31:24,920 Speaker 1: let's start with F s AS first. Hi, guys, Ronika 658 00:31:25,000 --> 00:31:29,000 Speaker 1: from Denver here, with open enrollment coming soon, I'm wanting 659 00:31:29,040 --> 00:31:32,080 Speaker 1: your thoughts about what to consider when enrolling in the 660 00:31:32,160 --> 00:31:35,680 Speaker 1: dependent care at s A. My husband and I both 661 00:31:35,680 --> 00:31:40,760 Speaker 1: have plans. I anticipate our household income for to be 662 00:31:40,760 --> 00:31:42,920 Speaker 1: between a hundred and ten and a hundred and fifty 663 00:31:42,920 --> 00:31:46,120 Speaker 1: thousand dollars, and our day care expenses should be abround 664 00:31:46,200 --> 00:31:50,080 Speaker 1: eighteen thousand dollars for one dependent How do we make 665 00:31:50,120 --> 00:31:52,760 Speaker 1: this decision without knowing what the law and limits will 666 00:31:52,800 --> 00:31:57,320 Speaker 1: be for Ronika, that is a great question and actually 667 00:31:57,400 --> 00:32:01,560 Speaker 1: open enrollment starts today for or on healthcare dot gov 668 00:32:01,960 --> 00:32:04,240 Speaker 1: for people around the country who are looking to sign 669 00:32:04,320 --> 00:32:08,200 Speaker 1: up for a healthcare plan. So that's worth noting. And 670 00:32:08,320 --> 00:32:12,080 Speaker 1: most private employers actually start doing open enrollment really really soon, 671 00:32:12,520 --> 00:32:14,280 Speaker 1: and so they're they're just a lot of things to 672 00:32:14,320 --> 00:32:17,120 Speaker 1: consider when you're in the open enrollment period. Matt and 673 00:32:17,160 --> 00:32:20,000 Speaker 1: I would always suggest to run the numbers and don't 674 00:32:20,040 --> 00:32:22,960 Speaker 1: make snap decisions. Matt I always found it interesting talking 675 00:32:22,960 --> 00:32:26,160 Speaker 1: to co workers and they wanted to choose the one 676 00:32:26,280 --> 00:32:30,240 Speaker 1: that had the lowest deductible, but it turns out that 677 00:32:30,600 --> 00:32:33,640 Speaker 1: at the end of the year your most people were 678 00:32:33,680 --> 00:32:37,920 Speaker 1: better served by sticking with the more high deductible plan. 679 00:32:38,200 --> 00:32:40,800 Speaker 1: They were they were ultimately going to incur fewer out 680 00:32:40,800 --> 00:32:42,880 Speaker 1: of pocket costs. And so, yeah, you have to know 681 00:32:42,960 --> 00:32:45,680 Speaker 1: your own health history and kind of what you think 682 00:32:45,760 --> 00:32:47,520 Speaker 1: you're going to spend on healthcare in the coming year. 683 00:32:47,680 --> 00:32:49,960 Speaker 1: But it's really important not to just assume things and 684 00:32:49,960 --> 00:32:51,840 Speaker 1: to actually think about it for a minute. Yeah, the 685 00:32:51,840 --> 00:32:54,360 Speaker 1: same is true when it comes to the dependent care 686 00:32:54,560 --> 00:32:58,280 Speaker 1: f s a childcare. It's not cheap. And Ronika, this 687 00:32:58,360 --> 00:33:00,000 Speaker 1: is an expense that her and her husband are both 688 00:33:00,240 --> 00:33:02,640 Speaker 1: going to be facing more of this coming year. But 689 00:33:02,840 --> 00:33:05,080 Speaker 1: if you're spending that much money, the good news is 690 00:33:05,080 --> 00:33:07,520 Speaker 1: that a chunk of you know, that expense won't be 691 00:33:07,560 --> 00:33:09,400 Speaker 1: taxed if you take full advantage of the f s 692 00:33:09,440 --> 00:33:11,360 Speaker 1: A that you have access to. That's what you're talking 693 00:33:11,360 --> 00:33:13,840 Speaker 1: about doing here, Ronica. And you know, while the limits 694 00:33:13,840 --> 00:33:16,480 Speaker 1: were temporarily doubled last year due to the pandemic, the 695 00:33:16,480 --> 00:33:19,320 Speaker 1: New York Times is reporting that they'll be reverting back 696 00:33:19,360 --> 00:33:22,160 Speaker 1: to the earlier limits, the regular limits, which are five 697 00:33:22,160 --> 00:33:25,040 Speaker 1: thousand dollars. And since you were looking at childcare costs 698 00:33:25,080 --> 00:33:27,880 Speaker 1: in the eighteen thousand dollar range, this certainly seems like 699 00:33:27,920 --> 00:33:30,400 Speaker 1: a benefit that you will want to pounce on and 700 00:33:30,520 --> 00:33:32,440 Speaker 1: and take full advantage of and make sure that your 701 00:33:32,480 --> 00:33:36,040 Speaker 1: household is able to maximize that at the five thousand 702 00:33:36,040 --> 00:33:38,680 Speaker 1: dollar limit. And I know most of our listeners are student, 703 00:33:38,720 --> 00:33:40,640 Speaker 1: they know this, Matt, but it is important just to 704 00:33:40,680 --> 00:33:43,200 Speaker 1: note that f s A s are different than hsas. 705 00:33:43,400 --> 00:33:45,160 Speaker 1: And we're actually gonna take a question about h s 706 00:33:45,200 --> 00:33:46,920 Speaker 1: as after this, so we'll kind of get a chance 707 00:33:46,920 --> 00:33:49,800 Speaker 1: to see the dichotomy in this one segment. Well, quickly, 708 00:33:49,840 --> 00:33:52,280 Speaker 1: I just realized we have not defined these acronyms. We 709 00:33:52,320 --> 00:33:53,520 Speaker 1: never want to be the people who are out there 710 00:33:53,560 --> 00:33:56,320 Speaker 1: throwing out all the abbreviations and acronyms without making sure 711 00:33:56,360 --> 00:33:58,080 Speaker 1: we just cover our bases and to find them. But 712 00:33:58,200 --> 00:34:01,240 Speaker 1: f s A stands for flexible spending account h s 713 00:34:01,320 --> 00:34:05,040 Speaker 1: A is are for health savings accounts procedural. Okay, I 714 00:34:05,040 --> 00:34:07,720 Speaker 1: appreciate you doing that. That's very important stuff. And you 715 00:34:07,760 --> 00:34:10,840 Speaker 1: and I we actually like both of these vehicles, but 716 00:34:11,120 --> 00:34:14,040 Speaker 1: they have their pros and cons. So if you're in 717 00:34:14,080 --> 00:34:17,160 Speaker 1: a high deductible health plan, then in h s A 718 00:34:17,760 --> 00:34:21,000 Speaker 1: it's great to have and it's really about investing money 719 00:34:21,040 --> 00:34:23,319 Speaker 1: for your future. Your goal is actually to not be 720 00:34:23,360 --> 00:34:25,560 Speaker 1: taking money out of that account, even though you have 721 00:34:25,600 --> 00:34:28,239 Speaker 1: the ability to do so for qualified health expenses. Will 722 00:34:28,280 --> 00:34:31,560 Speaker 1: get to more on that in the next question. But 723 00:34:31,800 --> 00:34:33,640 Speaker 1: when it comes to your f s A, there are 724 00:34:33,680 --> 00:34:37,040 Speaker 1: two different varieties. One, similar to an h s A, 725 00:34:37,239 --> 00:34:40,120 Speaker 1: is for healthcare costs, but then the other, like Ronica 726 00:34:40,200 --> 00:34:43,840 Speaker 1: is asking about, is for dependent care costs for you know, childcare, 727 00:34:43,960 --> 00:34:46,319 Speaker 1: the costs you're going to incur. And the great thing 728 00:34:46,440 --> 00:34:48,600 Speaker 1: is putting money into an f s A, it shields 729 00:34:48,640 --> 00:34:51,239 Speaker 1: you from tax on that money. If it is used 730 00:34:51,600 --> 00:34:54,040 Speaker 1: in the proper way. And here's the thing though, when 731 00:34:54,080 --> 00:34:57,000 Speaker 1: it comes to the flexible spending accounts, you don't want 732 00:34:57,239 --> 00:34:59,800 Speaker 1: to overfund these accounts and stick money in that you 733 00:35:00,120 --> 00:35:02,680 Speaker 1: might not end up using, because if you don't spend 734 00:35:02,760 --> 00:35:05,160 Speaker 1: that money, it just goes up and smoke. It vanishes. 735 00:35:05,200 --> 00:35:07,359 Speaker 1: At the end of the year, you can usually roll 736 00:35:07,400 --> 00:35:09,960 Speaker 1: over a certain amount of money. Uh. This year, you 737 00:35:10,000 --> 00:35:13,080 Speaker 1: can roll over up to a thousand dollars. Most years 738 00:35:13,080 --> 00:35:16,399 Speaker 1: it's closer to five. And let's so let's say you 739 00:35:16,400 --> 00:35:19,240 Speaker 1: you think you're only gonna need two thousand dollars worth 740 00:35:19,239 --> 00:35:22,120 Speaker 1: of childcare expenses this coming year. Don't put in five 741 00:35:22,120 --> 00:35:24,120 Speaker 1: thousand dollars just in case, because that's a max limit, 742 00:35:24,440 --> 00:35:27,120 Speaker 1: not in an f s A. UH that that is 743 00:35:27,440 --> 00:35:31,000 Speaker 1: a recipe for losing a good chunk of that money. 744 00:35:31,040 --> 00:35:34,040 Speaker 1: But in Ronika's case, maxing that f s A out 745 00:35:34,080 --> 00:35:36,640 Speaker 1: because she knows she's going to exceed that five thousand 746 00:35:36,640 --> 00:35:39,520 Speaker 1: dollars anyway, is the right thing to do. Yes, you 747 00:35:39,520 --> 00:35:41,719 Speaker 1: definitely want to keep that in mind. You can roll 748 00:35:41,760 --> 00:35:44,200 Speaker 1: over some to spend in the following year, but only 749 00:35:44,239 --> 00:35:46,879 Speaker 1: a limited amount. And so this is actually a good 750 00:35:46,880 --> 00:35:49,200 Speaker 1: reminder to anyone who still has money left in their 751 00:35:49,280 --> 00:35:51,799 Speaker 1: f s A for this year, check and see how 752 00:35:51,840 --> 00:35:54,320 Speaker 1: much of that money that your employer is going to 753 00:35:54,400 --> 00:35:56,719 Speaker 1: allow you to roll into your f s A for 754 00:35:56,840 --> 00:35:59,360 Speaker 1: next year. Make sure to do that. But then for 755 00:35:59,400 --> 00:36:01,240 Speaker 1: all the rest of your money, make sure to spend 756 00:36:01,280 --> 00:36:04,000 Speaker 1: it on eligible items that you can get reimbursed for. 757 00:36:04,120 --> 00:36:06,800 Speaker 1: You can get some new glasses like I did fairly recently. 758 00:36:06,800 --> 00:36:09,120 Speaker 1: You can stock up on band aids for your kids. Uh. 759 00:36:09,200 --> 00:36:12,360 Speaker 1: Even ancestry DNA kits qualify, which is pretty cool. You 760 00:36:12,400 --> 00:36:14,040 Speaker 1: might want to go digging into your past a little 761 00:36:14,040 --> 00:36:17,799 Speaker 1: bit and and see how British are you, or are 762 00:36:17,800 --> 00:36:20,080 Speaker 1: you actually Germanic or something. I don't know. I've never 763 00:36:20,080 --> 00:36:23,080 Speaker 1: done it myself. But other things qualified to, like feminine 764 00:36:23,160 --> 00:36:26,120 Speaker 1: hygiene products that's something that they added last year or 765 00:36:26,280 --> 00:36:28,360 Speaker 1: our favorite. You can always stock up on sunscreen for 766 00:36:28,440 --> 00:36:31,160 Speaker 1: your next beach trip. That's one of those things that 767 00:36:31,200 --> 00:36:33,120 Speaker 1: if you can catch it on sale, you can always 768 00:36:33,200 --> 00:36:35,880 Speaker 1: spend so much less on that than you do, you know, 769 00:36:35,920 --> 00:36:38,680 Speaker 1: at the grocery store, actually at the beach. And if 770 00:36:38,719 --> 00:36:41,239 Speaker 1: you're gonna lose it that money anyway, go ahead and 771 00:36:41,239 --> 00:36:43,560 Speaker 1: stock up on sunscreen. I usually buy it by the gallon, 772 00:36:43,680 --> 00:36:46,799 Speaker 1: just because that because you white and pasty, exactly, that's 773 00:36:47,040 --> 00:36:49,319 Speaker 1: how much our family needs. But Ronicka, I hope that 774 00:36:49,400 --> 00:36:51,640 Speaker 1: helps go ahead and max that out to the tune 775 00:36:51,640 --> 00:36:54,200 Speaker 1: of five k. And yeah, let's get to the next 776 00:36:54,280 --> 00:36:56,719 Speaker 1: question though, about h S A S Matt and how 777 00:36:56,760 --> 00:36:59,600 Speaker 1: you can use them most effectively. Hey, is this kid 778 00:36:59,680 --> 00:37:01,879 Speaker 1: up from card to sell the Georgia. I've been listening 779 00:37:01,920 --> 00:37:03,759 Speaker 1: to How the Money for about a week or two now. 780 00:37:04,200 --> 00:37:08,160 Speaker 1: I'm currently maxing out May H S A through work. 781 00:37:09,040 --> 00:37:13,279 Speaker 1: I was wondering should I use those funds for my 782 00:37:13,320 --> 00:37:17,360 Speaker 1: current medical expenses so I can build an emergency fund faster, 783 00:37:18,480 --> 00:37:22,640 Speaker 1: or should I just only use day h S for 784 00:37:22,760 --> 00:37:26,560 Speaker 1: investments at the time being and gradually build up my 785 00:37:26,560 --> 00:37:31,320 Speaker 1: emergency savings? All right? Thanks alright, Caleb, thank you for 786 00:37:31,360 --> 00:37:34,080 Speaker 1: being a new how to Money listener, and hopefully you're 787 00:37:34,120 --> 00:37:36,840 Speaker 1: listening to our answer to Ronica, because we we touched 788 00:37:36,880 --> 00:37:39,200 Speaker 1: on this a little bit when it came to talking 789 00:37:39,239 --> 00:37:42,360 Speaker 1: about f S A S, because no way should you 790 00:37:42,400 --> 00:37:44,719 Speaker 1: use those hs A funds if it is at all 791 00:37:44,800 --> 00:37:48,920 Speaker 1: possible to avoid it. We've talked in depth about as before, 792 00:37:48,960 --> 00:37:50,719 Speaker 1: and you can listen back to episode one oh five 793 00:37:50,800 --> 00:37:53,200 Speaker 1: where we really went point by point through h s 794 00:37:53,320 --> 00:37:54,480 Speaker 1: A s and how it is we feel that you 795 00:37:54,480 --> 00:37:57,279 Speaker 1: should use them, but basically we reply, everyone who has 796 00:37:57,320 --> 00:38:01,000 Speaker 1: access should take full advantage. Absolutely, yeah, yeah, yeah, I 797 00:38:01,040 --> 00:38:03,280 Speaker 1: mean we we feel that hs A s are even 798 00:38:03,440 --> 00:38:06,399 Speaker 1: better than roth ira as for many folks, and that's 799 00:38:06,440 --> 00:38:09,040 Speaker 1: because of the triple tax advantage that these accounts are 800 00:38:09,040 --> 00:38:12,040 Speaker 1: eligible for. There are no other retirement accounts out there 801 00:38:12,520 --> 00:38:14,239 Speaker 1: that have it this good. You don't get taxed on 802 00:38:14,280 --> 00:38:15,839 Speaker 1: the money that you can tribute, you don't get taxed 803 00:38:15,880 --> 00:38:18,000 Speaker 1: on the growth of that money, nor do you get 804 00:38:18,080 --> 00:38:20,520 Speaker 1: taxed on the withdrawals when you take them out. And 805 00:38:20,560 --> 00:38:24,040 Speaker 1: so yeah, there truly is nothing better than having a 806 00:38:24,120 --> 00:38:27,040 Speaker 1: zero tax vehicle in which to grow your wealth. That's right, 807 00:38:27,160 --> 00:38:29,279 Speaker 1: is really one of a kind. I mean, there's there's 808 00:38:29,320 --> 00:38:32,080 Speaker 1: almost nothing else out there where you can invest your 809 00:38:32,120 --> 00:38:36,080 Speaker 1: money and make money tax free. Hs A s are 810 00:38:36,239 --> 00:38:38,080 Speaker 1: kind of like a unicorn. They've kind of kind of 811 00:38:38,120 --> 00:38:42,680 Speaker 1: unicorn status. Take horn with like three prong, three horns 812 00:38:42,719 --> 00:38:44,400 Speaker 1: instead of one. I can say, like the other thing 813 00:38:44,440 --> 00:38:46,880 Speaker 1: that comes to mind is live in flips. That's another 814 00:38:46,920 --> 00:38:49,920 Speaker 1: way to generate wealth about having to pay taxes, But 815 00:38:50,040 --> 00:38:51,520 Speaker 1: the h s A, A lot more people are gonna 816 00:38:51,520 --> 00:38:53,719 Speaker 1: take advantage of that than they are, you know, doing 817 00:38:53,719 --> 00:38:56,200 Speaker 1: your own rental rental work at their house and hopefully 818 00:38:56,239 --> 00:38:58,120 Speaker 1: selling it down the road to make money. But both 819 00:38:58,160 --> 00:39:00,879 Speaker 1: of those are helpful from a tax standpoint. And yeah, 820 00:39:00,880 --> 00:39:03,960 Speaker 1: the problem is that a lot of folks either forego 821 00:39:04,080 --> 00:39:07,000 Speaker 1: contributing to their h s A altogether that's not good, 822 00:39:07,520 --> 00:39:11,799 Speaker 1: or even if they can and are contributing money to 823 00:39:11,840 --> 00:39:13,759 Speaker 1: their h s A, they do it in the wrong way. 824 00:39:14,480 --> 00:39:16,719 Speaker 1: How can you do it wrong, you might ask, Well, 825 00:39:16,840 --> 00:39:20,200 Speaker 1: by sticking that money in and taking it right back 826 00:39:20,200 --> 00:39:23,600 Speaker 1: out to fund immediate healthcare expenses that pop up. Sure 827 00:39:23,680 --> 00:39:26,359 Speaker 1: you get that single one time tax benefit now if 828 00:39:26,400 --> 00:39:28,880 Speaker 1: you go that route, and that is a nice benefit. 829 00:39:29,239 --> 00:39:32,319 Speaker 1: But the h s A is so powerful that if 830 00:39:32,400 --> 00:39:35,239 Speaker 1: you instead invest the money inside of that h s 831 00:39:35,320 --> 00:39:38,080 Speaker 1: A and you leave it to compound for decades and 832 00:39:38,120 --> 00:39:40,400 Speaker 1: take it out way down the road, you're gonna be 833 00:39:40,600 --> 00:39:43,439 Speaker 1: way better off. And so just it's's important to note 834 00:39:43,480 --> 00:39:45,760 Speaker 1: that this does involve a little bit of record keeping. 835 00:39:45,920 --> 00:39:49,160 Speaker 1: You want to keep track of all your healthcare expenses 836 00:39:49,239 --> 00:39:53,760 Speaker 1: in like Google documents, but it's totally worth it. Because 837 00:39:54,520 --> 00:39:57,560 Speaker 1: it allows you to fully take advantage of what the 838 00:39:57,680 --> 00:40:00,440 Speaker 1: h s A, the benefits that it can provide. And 839 00:40:00,520 --> 00:40:03,560 Speaker 1: Matt you earlier you define the terms h s A 840 00:40:03,560 --> 00:40:06,400 Speaker 1: as a health savings account, but we have said it 841 00:40:06,440 --> 00:40:10,000 Speaker 1: should be for anybody who cares about growing their money 842 00:40:10,000 --> 00:40:11,880 Speaker 1: and growing their wealth. It should be called an h 843 00:40:11,960 --> 00:40:14,799 Speaker 1: I a health investment account, because that is how it's 844 00:40:14,840 --> 00:40:17,320 Speaker 1: best use. And I think just that term what it's called, 845 00:40:17,560 --> 00:40:19,640 Speaker 1: actually leads people down the wrong path for how to 846 00:40:19,760 --> 00:40:22,319 Speaker 1: use the h s A properly. That's right, because well, 847 00:40:22,360 --> 00:40:24,040 Speaker 1: on that note, I mean, it's one thing to call 848 00:40:24,080 --> 00:40:25,680 Speaker 1: it an h s A if you're thinking about like 849 00:40:25,680 --> 00:40:28,399 Speaker 1: a health spending account, which doesn't exist. It's a health 850 00:40:28,520 --> 00:40:30,799 Speaker 1: savings account. But like you said, Joel, it needs to 851 00:40:30,800 --> 00:40:33,920 Speaker 1: be a health investing account truly, because the other way 852 00:40:33,960 --> 00:40:35,480 Speaker 1: that you can use your h s A poorly is 853 00:40:35,480 --> 00:40:37,760 Speaker 1: if you don't put those dollars to work by actually 854 00:40:37,800 --> 00:40:39,799 Speaker 1: investing them. If you truly do treat it like a 855 00:40:39,800 --> 00:40:41,719 Speaker 1: savings account and you're putting that money in there and 856 00:40:41,719 --> 00:40:43,759 Speaker 1: it's sitting there as cash, if it's sitting there in 857 00:40:43,920 --> 00:40:46,319 Speaker 1: those savings type options, then your h s A won't 858 00:40:46,400 --> 00:40:49,600 Speaker 1: experience the growth that it otherwise could. Yeah, And the 859 00:40:49,640 --> 00:40:53,239 Speaker 1: great thing is it can almost act like a secondary 860 00:40:53,239 --> 00:40:56,719 Speaker 1: emergency fund over time because you can pull that money 861 00:40:56,719 --> 00:40:59,760 Speaker 1: out willy nilly if you have a qualified medical expense, 862 00:40:59,800 --> 00:41:02,600 Speaker 1: even that medical expense happened five ten years ago, you 863 00:41:02,600 --> 00:41:04,240 Speaker 1: can say, you know what, I need the money now. 864 00:41:04,280 --> 00:41:06,200 Speaker 1: But at least it's been growing for those five or 865 00:41:06,239 --> 00:41:09,800 Speaker 1: ten years until you actually do need it. Right. But Caleb, 866 00:41:09,800 --> 00:41:12,120 Speaker 1: hopefully that helps you out. And Matt, let's get back 867 00:41:12,120 --> 00:41:14,080 Speaker 1: to the beer that we had on this episode. This 868 00:41:14,120 --> 00:41:18,360 Speaker 1: one is called Schmoogie Box and it's it's my imprint 869 00:41:18,360 --> 00:41:20,880 Speaker 1: beer company. What were your thoughts on this one? So 870 00:41:20,920 --> 00:41:22,400 Speaker 1: before we hit record, you're just like, I feel like 871 00:41:22,400 --> 00:41:24,000 Speaker 1: an idiot saying the name of indust beer. Which is 872 00:41:24,000 --> 00:41:25,840 Speaker 1: why I said it at the beginning of the episode 873 00:41:25,840 --> 00:41:29,279 Speaker 1: because Philip small Child like and I will say, we've 874 00:41:29,280 --> 00:41:31,799 Speaker 1: talked about this before. I don't Smoogie boy. I don't 875 00:41:31,840 --> 00:41:35,800 Speaker 1: love the beer industry going towards like Caprissan sort of 876 00:41:35,880 --> 00:41:38,759 Speaker 1: imagery because I feel like that's a little what you 877 00:41:38,760 --> 00:41:40,359 Speaker 1: feel like this it's a little lame. Yeah, I don't 878 00:41:40,360 --> 00:41:43,279 Speaker 1: like it. Well, basically, this is a fruited sour beer, 879 00:41:43,600 --> 00:41:46,000 Speaker 1: and it says on the side of it smoogie style ale, 880 00:41:46,280 --> 00:41:48,040 Speaker 1: which what does that even mean? That? Like they've got 881 00:41:48,080 --> 00:41:49,279 Speaker 1: a listed out, like we all know what that means, 882 00:41:49,280 --> 00:41:51,319 Speaker 1: but this is a fruited sour ale, made up word 883 00:41:51,400 --> 00:41:54,000 Speaker 1: that they came up with. Yeah, it was got mango, passion, fruit, 884 00:41:54,080 --> 00:41:57,080 Speaker 1: key lime, and cheesecake. What your thoughts on this beer? Dual? Okay, 885 00:41:57,080 --> 00:41:58,600 Speaker 1: So the reason I picked it up was not because 886 00:41:58,600 --> 00:42:00,759 Speaker 1: of the name or the branding, because I didn't really 887 00:42:00,760 --> 00:42:03,799 Speaker 1: like either, but because the reviews of this beer, going 888 00:42:03,800 --> 00:42:06,160 Speaker 1: back to what we talked about the very beginning of 889 00:42:06,200 --> 00:42:08,279 Speaker 1: the episode, they were great, and so I was like, 890 00:42:08,320 --> 00:42:10,840 Speaker 1: this it's worth it. It's worth it because it was 891 00:42:10,880 --> 00:42:12,520 Speaker 1: in the single section. I was like, let's give this 892 00:42:12,560 --> 00:42:14,839 Speaker 1: one a shot. I'll say it was pretty good, but 893 00:42:14,880 --> 00:42:17,359 Speaker 1: it didn't live up to those reviews that I read. 894 00:42:17,760 --> 00:42:21,480 Speaker 1: And yeah, it had a very passionate fruit heavy, had 895 00:42:21,560 --> 00:42:23,520 Speaker 1: definitely some peach notes going on, and it did have 896 00:42:23,600 --> 00:42:26,080 Speaker 1: like actually a little bit of like peach mouthfield. There 897 00:42:26,080 --> 00:42:27,600 Speaker 1: was almost like some pulp in there. It takes it 898 00:42:27,680 --> 00:42:29,520 Speaker 1: like to me, oh, definitely. I mean it was super thick, 899 00:42:29,760 --> 00:42:32,400 Speaker 1: basically like you got your servings of fruit when you 900 00:42:32,480 --> 00:42:35,840 Speaker 1: drink this beer, I need of them today. It's like 901 00:42:35,920 --> 00:42:38,560 Speaker 1: drinking some naked juice or odd waller or something like that. 902 00:42:38,560 --> 00:42:40,680 Speaker 1: That's true. I totally had that kind of vibe going 903 00:42:40,719 --> 00:42:43,319 Speaker 1: on and the flavors. I would say, we're good, but 904 00:42:43,400 --> 00:42:45,160 Speaker 1: it was I don't know if this isn't gonna be 905 00:42:45,280 --> 00:42:48,080 Speaker 1: one that I go back to anytime soon. You remember 906 00:42:48,120 --> 00:42:49,759 Speaker 1: what the rating was on this one in particular, I 907 00:42:49,760 --> 00:42:51,760 Speaker 1: want to say it was like four and a half. Okay, 908 00:42:51,840 --> 00:42:53,120 Speaker 1: I'm not sure if I would give it four a half, 909 00:42:53,120 --> 00:42:54,840 Speaker 1: but it's really danny close actually, so I think I 910 00:42:54,920 --> 00:42:56,959 Speaker 1: like this more than you do. I'm gonna argue maybe 911 00:42:56,960 --> 00:42:59,920 Speaker 1: that you were affected, uh, impacted by the poor brand, 912 00:43:00,360 --> 00:43:03,360 Speaker 1: maybe the fact that you had to say schmoogie or whatever. 913 00:43:03,440 --> 00:43:06,920 Speaker 1: I'm judging the beer blame. But here's here's something that 914 00:43:07,000 --> 00:43:09,040 Speaker 1: I noted and it mentioned on the side, is that 915 00:43:09,080 --> 00:43:12,000 Speaker 1: it has key lime in it um. And that sharpness 916 00:43:12,120 --> 00:43:14,200 Speaker 1: I think is what maybe brought this beer around from me, 917 00:43:14,239 --> 00:43:16,839 Speaker 1: because if it was just those heavy, sweet flavors of 918 00:43:16,880 --> 00:43:19,960 Speaker 1: those more tropical dense fruits without the I don't know, 919 00:43:20,040 --> 00:43:22,440 Speaker 1: sharp line to cut through it, I felt like this 920 00:43:22,480 --> 00:43:24,840 Speaker 1: beer would have maybe landed flat for me, but because 921 00:43:24,840 --> 00:43:27,920 Speaker 1: it had that kind of crispness, that acidity like it 922 00:43:28,080 --> 00:43:30,880 Speaker 1: to me, it almost tasted like it had like ginger, 923 00:43:31,040 --> 00:43:34,520 Speaker 1: fresh ginger in it. I had like a fresh, fancy, 924 00:43:34,560 --> 00:43:37,320 Speaker 1: fresh pressed juice recently that had ginger in it, and 925 00:43:37,520 --> 00:43:39,560 Speaker 1: this took me back to that morning when I was 926 00:43:39,640 --> 00:43:42,520 Speaker 1: drinking that juice. And it also claims having some cheesecake 927 00:43:42,560 --> 00:43:43,800 Speaker 1: in there I feel like, and so I think that 928 00:43:43,840 --> 00:43:45,840 Speaker 1: added to the cream nous. But it also kind of 929 00:43:45,880 --> 00:43:47,880 Speaker 1: added a little bit of that kind of nuttiness that 930 00:43:47,920 --> 00:43:49,640 Speaker 1: you get from like the cheese crate, like a Graham 931 00:43:49,640 --> 00:43:51,960 Speaker 1: cracker crust a little bit as well. So that kind 932 00:43:51,960 --> 00:43:53,719 Speaker 1: of it made it seem more like not just a 933 00:43:53,719 --> 00:43:56,239 Speaker 1: fruited sour, but maybe one of those pastry sours as well, 934 00:43:56,440 --> 00:43:59,280 Speaker 1: which normally I'm not for, but I actually could totally 935 00:43:59,280 --> 00:44:01,080 Speaker 1: get on board with us one. Next time I see 936 00:44:01,120 --> 00:44:03,040 Speaker 1: one of these on the shelf, I might actually grab 937 00:44:03,080 --> 00:44:05,440 Speaker 1: one of these myself, maybe to share with Kate. Here 938 00:44:05,480 --> 00:44:07,040 Speaker 1: you go, all right, well, you know what, best friends 939 00:44:07,080 --> 00:44:09,319 Speaker 1: can disagree from time to time, different strokes for different folks. Man, 940 00:44:09,360 --> 00:44:11,080 Speaker 1: That's what we say. Duke it out after we're done. 941 00:44:11,120 --> 00:44:14,319 Speaker 1: Recording just kidding. All right, Well, that's gonna do it 942 00:44:14,360 --> 00:44:17,240 Speaker 1: for this episode, and we love taking your listener questions. 943 00:44:17,440 --> 00:44:20,960 Speaker 1: And if anybody else out there listening says I've got 944 00:44:21,000 --> 00:44:24,120 Speaker 1: an interesting oddball question to ask Matt and Joel on 945 00:44:24,280 --> 00:44:27,120 Speaker 1: an upcoming ask htm episode, we'd love to hear it. 946 00:44:27,200 --> 00:44:29,440 Speaker 1: We do love the oddball ones. So go to our 947 00:44:29,440 --> 00:44:32,480 Speaker 1: website at how do money dot com slash ask and 948 00:44:32,600 --> 00:44:35,279 Speaker 1: you'll find the simple instructions to record and send us 949 00:44:35,400 --> 00:44:38,200 Speaker 1: your voice memo and we hope to take it really soon. 950 00:44:38,400 --> 00:44:40,239 Speaker 1: That's right, and Jeel, we talked about reviews a couple 951 00:44:40,239 --> 00:44:42,279 Speaker 1: of times now on this episode, and if you haven't 952 00:44:42,360 --> 00:44:44,760 Speaker 1: left us to review, we would appreciate your honest feedback. 953 00:44:44,800 --> 00:44:46,840 Speaker 1: Just don't be the guy leaving the one star review 954 00:44:46,960 --> 00:44:50,160 Speaker 1: of like oh it's a podcast they talk, not for me, 955 00:44:51,160 --> 00:44:55,280 Speaker 1: because that's doesn't provide any stick any YouTube helpfully feedback 956 00:44:55,320 --> 00:44:57,760 Speaker 1: for anybody. But were you to leave us a solid review, 957 00:44:57,800 --> 00:44:59,600 Speaker 1: we would appreciate you. Joel, that's gonna be it for 958 00:44:59,640 --> 00:45:02,399 Speaker 1: this episod. Buddy, Until next time, Best Friends Out, Best 959 00:45:02,400 --> 00:45:03,120 Speaker 1: Friends Out,