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Speaker 1: Welcome to an the Money. I'm Joel. I am Matt.

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

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Speaker 2: Yeah, there's nothing wrong with my voice. I know everybody

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Speaker 2: was worried. They're like, oh, Matt's sick. He sounds hoarse. No,

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Speaker 2: not the case, just sick in the head. Hey, don't

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Speaker 2: disparage me here on the podcast. We've got to listen

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Speaker 2: to questions.

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Speaker 1: They can wait till the end of it.

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Speaker 2: Do it at least, yeah, don't do it while we're

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Speaker 2: actually recording, Joel, we are gonna hear from a listener

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Speaker 2: who has a medium term investing conundrum. I feel like

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Speaker 2: this is this is a classic, but it does have

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Speaker 2: a slight twist, so we'll get to that one. Another listener,

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Speaker 2: she is considered. She's kind of considering some naughty credit

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Speaker 2: card behavior, Joel, something that she's never done before.

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Speaker 1: And fifty great credit card. Not quite quite.

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Speaker 2: I see who's got the stick in the head and

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Speaker 2: going on for him? Right now?

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Speaker 1: That would be Joe.

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Speaker 2: You've never seen the movie, never read the book. No,

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Speaker 2: listener is considering some of the different vesting periods from

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Speaker 2: there with her employer sponsored retirement play. We'll get to

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Speaker 2: that plus more during our episode today. But first, Buddy,

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Speaker 2: I wanted to ask you a quick little question. I

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Speaker 2: had a little money saving win recently, and I'm actually

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Speaker 2: hesitant to share it on the podcast because i think

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Speaker 2: I'm gonna get blown back from listeners.

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Speaker 1: Sometimes your your attempts to save money border on asinine,

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Speaker 1: and so yeah, people.

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Speaker 2: Are unethical perhaps, well not usually on ethical, but usually

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Speaker 2: like whoa man that was like pretty cheap and spal

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Speaker 2: pushing the envelope a little too far. No, okay, So

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Speaker 2: here's the story my one of our one of my daughters,

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Speaker 2: she takes she does gymnastics, and she was doing some

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Speaker 2: sort of maneuver she was I think she was doing.

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Speaker 1: Like a back bridge kickovers, I don't.

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Speaker 2: Know something, and her elbow popped during gymnastics, like evidently

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Speaker 2: the coach has heard it. And she went down like

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Speaker 2: she crumpled. And she's super tough. You know which daughter

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Speaker 2: I'm talking about. She like when it comes to physical stuff,

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Speaker 2: like she's tougher than me, dude, She's like easily the

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Speaker 2: toughest kid. I think she's tougher than Kate and I

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Speaker 2: as well. But she was crying. That's when Kate knew

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Speaker 2: that it was serious because she she hardly ever cries about,

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Speaker 2: you know, something like that. The folks at the gym said, hey,

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Speaker 2: go to the specialty children's hospital, which we've done before

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Speaker 2: and in that case, and it costs a lot of

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Speaker 2: money though, right, because this is a it's on the

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Speaker 2: other side of town. So not only is it going

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Speaker 2: to cost a lot of money to go do this,

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Speaker 2: it's going to cost a lot of time. But of course,

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Speaker 2: when you've got a hurt child, you're thinking, this is

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Speaker 2: what we've got to do.

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Speaker 1: Sure, they were.

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Speaker 2: Insisting that we go and do that to make sure

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Speaker 2: she's okay.

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Speaker 1: But by the way, you say this too, it costs

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Speaker 1: a lot of money because neither you are traditional health

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Speaker 1: insurance exactly, so as it would just be a cope

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Speaker 1: typically here man, Yeah, if we make an er visit,

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Speaker 1: we're paying. So we've done four figures and all like that.

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Speaker 2: Almost almost not quiet, but we've actually done a similar

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Speaker 2: visit before and all we did.

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Speaker 1: Was leave there with a lollipop.

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Speaker 2: And I'm saying that, oh no, she's gonna be okay.

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Speaker 2: And so one of the considerations that was the fact

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Speaker 2: that this daughter heard her elbow pop again, like right,

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Speaker 2: when it happened. And so I'm thinking, I think she

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Speaker 2: dislocated her elbow, and I think it went back in

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Speaker 2: place almost immediately. But it's certainly why it hurts. But

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Speaker 2: is it worth actually going through and going to the hospital.

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Speaker 2: And this is where my brain, you know, as we

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Speaker 2: start thinking creatively here, which is that we've got a

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Speaker 2: neighbor who is a doctor, and he's told us before

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Speaker 2: multiple times, Hey, if anything ever comes up, you know,

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Speaker 2: bring the kids up here, and I'm happy to take

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Speaker 2: a look at him. So we finally took him up

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Speaker 2: on his offer, and he was happy to see her.

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Speaker 2: Let her in was incredible. Let me talk about I

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Speaker 2: mean just his like his bedside manner. He wasn't out

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Speaker 2: of bedroom, just standing there in his house, and he's

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Speaker 2: just asking her amazing questions, asking her it hurts, what

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Speaker 2: doesn't hurt? And after five ten minutes, he just says,

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Speaker 2: I think I think you're exactly right. I think she

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Speaker 2: dislocated her elbow. No need to go in. Let's keep

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Speaker 2: an eye on it. She needs to use it. Don't

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Speaker 2: isolate it, but do be careful.

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Speaker 1: Blah blah blah.

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Speaker 2: You know, maybe don't go quite as hard on the

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Speaker 2: playground tomorrow throwing fastballs. Yeah, And it turns out he

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Speaker 2: was right. The next day, she was feeling better. The

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Speaker 2: day after that, her elbows even was in better shape.

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Speaker 2: But it's in that moment when they're hurt that you

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Speaker 2: have to.

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Speaker 1: Make the call. And that's what's so difficult.

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Speaker 2: And I think a lot of times that's for folks

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Speaker 2: err on the side of better safe than sorry. And

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Speaker 2: so in this case, do you think that we were

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Speaker 2: being frugal or cheap to not go to the actual hospital.

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Speaker 1: If you had had health insurance, my guess is you

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Speaker 1: would have gone.

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Speaker 2: Also, the there's also the cost of time, like it

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Speaker 2: would have taken hours and hours out of our out

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Speaker 2: of our evening.

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Speaker 1: I get it because like this is this is something

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Speaker 1: that we run into frequently. Also, these are the these

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Speaker 1: are the this is the painful side of not how

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Speaker 1: having traditional health coverage, I mean, the painful side of

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Speaker 1: having traditional health coverage when you're self employed is how

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Speaker 1: expensive the premiums are, like thousands of dollars a month

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Speaker 1: for a family of five, for in your K six

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Speaker 1: And so we want to avoid that because it's just

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Speaker 1: prohibitively expensive. Yeah, and as many more people around the

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Speaker 1: country are finding out right right now this year. But

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Speaker 1: I guess I think you still took her to see

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Speaker 1: a medical professional. It's nice to have like a doctor

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Speaker 1: in your neighborhood who says bring her on by whenever.

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Speaker 1: And I think not everyone has that, right, but if

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Speaker 1: you do, like, yeah, I don't know, I think I

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Speaker 1: would have felt comfortable doing this. So I guess it's

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Speaker 1: not like you were just like, hey, suck it up,

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Speaker 1: bite on this, right. I don't know, Yeah, exactly the.

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Speaker 2: Back in myself because I YouTube did it right, that

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Speaker 2: would be I think that would be different than would

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Speaker 2: probably be cheap. I think it also would have been

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Speaker 2: cheap is if he had never said that we could

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Speaker 2: do something like that, right. But the fact is, and

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Speaker 2: we've had neighbors even say, hey, no, you need you

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Speaker 2: need to go see doctor Joe.

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Speaker 1: He's great. He'll totally just like take a look at your.

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Speaker 2: Kid and make sure that they're okay.

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Speaker 1: I think that's probably get him a nice bottle of whiskey.

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Speaker 2: That's the we We totally did, and I mean we're yeah,

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Speaker 2: we're pretty good friends with him and his wife. But

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Speaker 2: I do think it would have been different too, because

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Speaker 2: that that's the cheapness. That would have felt like imposing,

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Speaker 2: imposing your cheapness on somebody else. I think that's when

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Speaker 2: it would have felt like, oh, it feels like less

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Speaker 2: of a frugal move, feels a little bit more like

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Speaker 2: a cheap move if if you were to do that.

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Speaker 2: But given the circumstances, not only did it feel frugal,

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Speaker 2: but it just felt very community whole. It felt healthy

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Speaker 2: on the prairie. Yeah, or like what's the mayberry? You know,

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Speaker 2: like it just it just felt a little bit more

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Speaker 2: like stepping into the past, like.

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Speaker 1: Forty years professionalized and over professionalized in some ways everything

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Speaker 1: and this is a way, so yeah, lean into if

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Speaker 1: I bet if you had a question about is roth

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Speaker 1: ira or something like that, you wouldn't be like, well, buddy,

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Speaker 1: let's do it, doctor Joe, leave me alone, listen to

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Speaker 1: my podcast instead, Like, I don't think he would have

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Speaker 1: pulled that on him. And it sounds like he feels

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Speaker 1: the same way about serving the people in his namebod,

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Speaker 1: which I think is awesome.

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Speaker 2: Yeah, And if I haven't let him know that, I

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Speaker 2: need to just hey, let's talk about financing. I also

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Speaker 2: think he's doing it right. Yeah, Okay, let's Matt. Let's

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Speaker 2: mention the beer. We're having another episode. This one's called

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Speaker 2: Sour Twin. It's by Living Waters Brewing Company. I think

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Speaker 2: it's called Tower Twin. I don't know the label's kind of.

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Speaker 1: Twin yeah or twin sour, something like that. Go Beyond Usual.

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Speaker 1: That must be their tagline. It looks good. We'll give

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Speaker 1: our thoughts on this one later on. By the way,

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Speaker 1: if you have a money question, we'd love to hear

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Speaker 1: from you. You're not You don't live in our neighborhood.

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Speaker 1: You can't walk up to our front door and I

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Speaker 1: ask her if you If you do and you're listening,

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Speaker 1: you can. Matt's available. He'll answer your question anytime, day

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Speaker 1: or night.

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Speaker 2: You know what I just thought of. So with some

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Speaker 2: neighbors that had told us like no, no, no, you

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Speaker 2: need to go go talk to doctor Joe. He gave

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Speaker 2: me a beer. You know Jimmy. Yeah, he's a friend

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Speaker 2: of yours too.

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Speaker 1: He gave me a beer.

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Speaker 2: And I am now thinking, because we will talk about

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Speaker 2: money and stuff. He always jokes about it. I'm wondering

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Speaker 2: if you wanted us to have that beer on the show.

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Speaker 1: Oh, we'll bring it in well, I drink it, you

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Speaker 1: screwed it up.

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Speaker 2: I just yeah, I'll need I'll repurchase that beer. We'll

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Speaker 2: share it here on the show.

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Speaker 1: That sounds good. But if you have a money question,

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Speaker 1: you can knock on mass store. But you can quickly

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Speaker 1: record your money question on the voice memo app of

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Speaker 1: your phone. Email it over to us at how to

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Speaker 1: Moneypod at gmail dot com. It'll take you out of

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Speaker 1: forty five seconds and hopefully we can take it on

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Speaker 1: the show next week. Now let's get to you questions,

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Speaker 1: and let's start with one about credit cards and trying

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Speaker 1: to maybe optimize your credit card decisions.

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Speaker 2: Hi, Matt and Joel.

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Speaker 3: This is Suzan from Austin. I recently acquired a Chase Inc.

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Speaker 3: Business cash card. It has a generous nine hundred dollars

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Speaker 3: sign up bonus, which only requires spending six thousand dollars

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Speaker 3: in three months.

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Speaker 2: I will have no problem.

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Speaker 3: Hitting that number without making any purchases that I wasn't

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Speaker 3: already planning to make. Here's my question. The card offers

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Speaker 3: zero percent introductory APR for the first year, and I'm

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Speaker 3: considering only paying the minimum balance until it's closer to

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Speaker 3: the twelve month mark. I figure I can earn about

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Speaker 3: two hundred dollars by keeping that money in a high

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Speaker 3: yield savings account. I've hit all the money gears and

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Speaker 3: am very financially responsible and have no reason to think

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Speaker 3: that I would spend that earmark money or forget that

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Speaker 3: the bill is owed. But I haven't carried a balance

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Speaker 3: on a credit card in more than thirty years, so

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Speaker 3: it feels very strange to me to consider this. I

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Speaker 3: hate debt, but I feel like not taking advantage of

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Speaker 3: this offer is just leaving money on the table.

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Speaker 2: So what do you think?

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Speaker 3: Is this a smart money move or is there a

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Speaker 3: downside to the strategy? And is my greed luring me

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Speaker 3: into making a foolish decision.

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Speaker 2: Thanks a bunch, Susanne. I love how you are thinking

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Speaker 2: about this question. First off, the fact that you're talking

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Speaker 2: about snagging nine hundred bucks for free without adjusting your spending,

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Speaker 2: I think that is that is a pretty sweet welcome offer.

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Speaker 1: She did say I only have to spend six thousand

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Speaker 1: dollars in three months, and I was like, for a

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Speaker 1: lot of people that for a lot of that's more

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Speaker 1: than what they would spend on their credit card.

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Speaker 2: That is true, This is a business card though, so

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Speaker 2: she's got business expense is going there, I assume, And yeah,

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Speaker 2: they can be really attractive, especially on some of those

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Speaker 2: business cards.

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Speaker 1: People who are listening might be saying nine hundred box, like,

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Speaker 1: I haven't seen sign up bonuses like that. Where's she

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Speaker 1: getting this? What is this? And you're right, business cards

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Speaker 1: often have the most lucrative terms. Typically have to spend

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Speaker 1: more because your businesses do spend more, and that's why

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Speaker 1: they they these credit card companies want businesses to sign

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Speaker 1: up or plastic, but that's why they offer better sign

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Speaker 1: up bonuses typically too.

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Speaker 2: Heck, yeah, and Suzanne, she's trying to take full advantage.

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Speaker 1: Of this offer.

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Speaker 2: And given how you handle your money, I am not

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Speaker 2: worried that you're going to screw this up. First of all,

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Speaker 2: you're in money. You're seven. You said you haven't had

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Speaker 2: a credit card balance in like thirty years or something

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Speaker 2: like that, So it sounds like you are being incredibly responsible.

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Speaker 1: You're being very.

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Speaker 2: Thoughtful, and honestly, this is why personal finance is so personal,

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Speaker 2: because there are a lot of other folks who might

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Speaker 2: ask the same question and I would just say no, no, no,

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Speaker 2: you go ahead and take care of that balance, like

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Speaker 2: let's not even mess Just take the nine hundred bucks right, like,

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Speaker 2: don't even worry about optimizing you more.

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Speaker 1: On top of that, you're overthinking it.

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Speaker 2: Go ahead, peeah, yeah, because the stakes are going to

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Speaker 2: be too high if you screw this up, and they're

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Speaker 2: gonna those folks would find themselves in a situation where

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Speaker 2: they don't have the cash on hand right like it

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Speaker 2: hasn't been earmarked, or they spent it accidentally perhaps, and

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Speaker 2: then they would be forced to pay exorbitant interest rates

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Speaker 2: for a while. It could be because even of a

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Speaker 2: job loss, or maybe even like of an overestimation of

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Speaker 2: their ability to pay on it when the time finally came.

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Speaker 2: Either way, for some folks, I would say no, thank you.

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Speaker 1: But I don't know.

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Speaker 2: Man, the way Suzanne's talking about it, I think she's solid.

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Speaker 2: I think she's got a good game plan here, and

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Speaker 2: I say go for it.

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Speaker 1: She gave us enough of a window into how she

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Speaker 1: thinks about money, nice little snapshot and her longtime dedication

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Speaker 1: to handling handling her finances, effectively her aversion to debt

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Speaker 1: like I feel like I got a really good and

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Speaker 1: just a pretty short, you know voice memo, A pretty

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Speaker 1: good peek into what's going on in her financial life,

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Speaker 1: and so I agree with you, Matta, think she is,

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Speaker 1: of course the kind of person who can do what

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Speaker 1: she's asking. She can take advantage and optimize, make a

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Speaker 1: couple extra hundred bucks on this arbitrage move and do

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Speaker 1: just fine. But not everybody could. It's also true, by

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Speaker 1: the way, that for some crummy or financial products, retroactive

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Speaker 1: interests can be charged, like if you screw it up,

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Speaker 1: the stakes can be even higher, like on some store

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Speaker 1: credit cards, and Matt, you remember those like no interest

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Speaker 1: until twenty thirty five commercials that you'd see for like

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Speaker 1: local furniture retailers or I guess national furniture retailers. Well,

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Speaker 1: those are often similar products too. People get really excited

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Speaker 1: about not paying interest at all on that new couch,

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Speaker 1: and then they realize when they don't pay it off

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Speaker 1: before they agreed upon date, there's all this retroactive interest

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Speaker 1: that gets charged in the price of that chair. It

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Speaker 1: just went. It just doubled overnight, which is that's what

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Speaker 1: they're banking on, like oh, interest free, not really though,

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Speaker 1: for like half the people who buy this thing, and

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Speaker 1: the fine print that you didn't read, that's exactly right.

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Speaker 1: That's exactly right. But of course, Suzan, because you're so

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Speaker 1: buttoned up, you've earned a much longer leash, like you

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Speaker 1: can make decisions like this because you've given yourself that ability.

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Speaker 1: Remember though, the day the intro period ends, interest kicks in,

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Speaker 1: probably not retroactive interest like with some of those furniture plans.

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Speaker 1: But we would just say, pay the full balance before

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Speaker 1: that promo expires. That's the key here. I'd set up

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Speaker 1: a calendar reminder or just go ahead and input the

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Speaker 1: auto payment now on the website for a future date,

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Speaker 1: like a week or two before that promo expiration date expires.

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Speaker 1: Just because I don't know, I'm I can be a

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Speaker 1: little anal. I want to know sure I'm not running

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Speaker 1: a foul of that and paying interests.

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Speaker 2: She's talking about this from like a facts in numbers

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Speaker 2: and figures standpoint, so it feels like she is fairly

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Speaker 2: comfortable with the like the numbers side of things. But

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Speaker 2: I think maybe there's sort of like the mental point

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Speaker 2: of view that we should should address. I think there's

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Speaker 2: like a psychological or an emotional element to.

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Speaker 1: It as well.

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Speaker 2: So basically, the fact that she even asked the question

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Speaker 2: makes me think that this might be weighing on her

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Speaker 2: mentally a little bit. And to that extent, I will say,

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Speaker 2: like two hundred bucks, yes, it's nice to keep in

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Speaker 2: your pocket, you know, but is it worth having this

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Speaker 2: on like in the back of your mind for the

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Speaker 2: next year or so, just for two hundred bucks, right,

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Speaker 2: Like two hundred dollars that is like real money. Right,

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Speaker 2: I'm not I don't want to at all dismiss that.

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Speaker 2: And for a lot of folks, they might be more

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Speaker 2: than willing to jump through the hoops. And Suzanne, again,

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Speaker 2: she's in money, You're number seven, She's got a killer

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Speaker 2: net worth, and in her case, it may not be

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Speaker 2: it just may not be worth it at all if

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Speaker 2: there's a drop of stress that is entering into.

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Speaker 1: Her life because of this. Right.

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Speaker 2: But on the other hand, maybe I don't know, Maybe

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Speaker 2: Susanne's a killer. Maybe she's like a soldier. She's got

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Speaker 2: like a very very much like a general mindset, and

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Speaker 2: she tactical, yes, yeah, yeah, she if she can very

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Speaker 2: much divide and separate her emotions from like the actions,

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Speaker 2: the actions that she is taking. I think I do

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Speaker 2: tend to lean more in that way, just based on

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Speaker 2: how she's how she's talking about it. So I don't know, but.

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Speaker 1: You always have to weigh their reward verse the risk

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Speaker 1: and the trade off that you have to give. And

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Speaker 1: if it's going to be buried in the back of

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Speaker 1: your head and you're gonna like wake up in cold

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Speaker 1: sweats and have those nightmares like I didn't pay off

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Speaker 1: the balance in time? Yeah, Like if that's what If

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Speaker 1: that emotion is like playing out and working its way

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Speaker 1: into your everyday life, don't swim it. Yeah, pay it off.

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Speaker 2: But like so, like you said, if if you set

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Speaker 2: the reminder though, and you know that if you pay

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Speaker 2: it off before it comes to do that, you're going

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Speaker 2: to be totally fine. Then I wonder if some of

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Speaker 2: it because she says a word that stood out to me.

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Speaker 2: She said something about it feeling strange, Yeah, to carry

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Speaker 2: a balance. Yeah, so I think there's like a I've

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Speaker 2: never done this before exactly. Yeah, Like it makes me

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Speaker 2: think that she might be tempted into thinking that there

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Speaker 2: is some sort of moral failing by carrying a balance.

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Speaker 2: And what I want to say is that there is

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Speaker 2: no failure on your part. Like you are not a

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Speaker 2: bad person. You're not a bad person. If you are

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Speaker 2: carrying a balance and you're paying interest. That's just the

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Speaker 2: reality for some folks, and that's the financial situation that

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Speaker 2: you find find yourself in. But for you, Suzanne, not

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Speaker 2: only are you caring a bounce, which is fine, but

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Speaker 2: you're also not paying interest on it for a year.

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Speaker 2: So maybe it's more just mentally accepting the fact that, oh,

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Speaker 2: this is something I've never done before, but it's totally fine.

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Speaker 1: Yeah.

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Speaker 2: Not only is it fine, I'm gonna be able to

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Speaker 2: pocket the difference make an extra twohundred bucks.

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Speaker 1: Agreed. I love that you pointed out the emotion though,

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Speaker 1: because sometimes emotions aren't rational, and sometimes like there's something

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Speaker 1: going on in the back of our brain that's hard

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Speaker 1: to address, and I think you're right to talk about

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Speaker 1: how you can possibly address that so you get over it,

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Speaker 1: but also realize that if it is hamstringing you, and

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Speaker 1: then it's just not worth two hundred bucks, right, yep.

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Speaker 1: And Susanne doesn't sound greedy, right, like she's she mentioned that,

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Speaker 1: Am I being greedy?

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Speaker 4: Like?

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Speaker 1: No, I don't think so at all. You're really just

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Speaker 1: trying to play by the complex rules of personal finance

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Speaker 1: and credit card company incentives, and I too, like to

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Speaker 1: squeeze as much juice out of a zero percent intro offer,

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Speaker 1: or at least I used to. I'm just like less

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Speaker 1: keen on playing the credit card game in general these days,

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Speaker 1: and I don't know what that says about me. Maybe

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Speaker 1: we should delve into that more at a future date.

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Speaker 1: But you know, they offer those incentives for a reason.

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Speaker 1: They want to get people hooked on their particular credit card.

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Speaker 1: And the truth is a decent truck of the American

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Speaker 1: public does and they suffer the consequences. Right, they'd really

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Speaker 1: like it, Susanne, if you weren't able to pay your

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Speaker 1: full balance much of the time. They like being able

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Speaker 1: to charge twenty two percent interest rates. That's not going

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Speaker 1: to be you, though, Like, you're not going to fall

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Speaker 1: into that trap that something fifty to sixty percent of

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Speaker 1: Americans fall into. But I really think the crux of

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Speaker 1: this question is how much do you value two hundred

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Speaker 1: bucks versus the impact on your mental capacity? And if

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Speaker 1: you're like, oh, it's not going to bother me now

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Speaker 1: that we've talked it through, great, Like save that two

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Speaker 1: hundred bucks and just make sure you pay off the

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Speaker 1: balance in time, go full, Go for it.

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Speaker 2: Yeah, I will say that the only potential downside is

401
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Speaker 2: credit utilization, because if she's carrying that balance, that's true.

402
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Speaker 2: Six thousand dollars is a good amount of money. And

403
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Speaker 2: so if you're looking at staying below at least that

404
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Speaker 2: thirty percent utilization threshold, that means this car needs to

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Speaker 2: have a limit of like at least eighteen thousand, which

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Speaker 2: is pretty it's pretty high up there. But again, maybe

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Speaker 2: that doesn't matter to her because she's pretty far along.

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Speaker 2: Maybe she's she's not a first time home buyer and

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Speaker 2: she's not getting ready to apply for a mortgage on

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Speaker 2: her first home. But if you are looking at getting

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Speaker 2: a new debt product, Susanne, and keep that in mind

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Speaker 2: as well, that your credit score might be slightly negatively

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Speaker 2: dinged by.

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Speaker 1: Caring a balance. And if you're like I got an

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Speaker 1: eight hundred credit score, Matt, I might go down to

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Speaker 1: seven ninety. Then it's like big whoop, not the big

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Speaker 1: of deal. Take the two of the bucks, right, which

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Speaker 1: for somebody like Suzanne, that's probably where she's at, right yeah, ye.

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Speaker 1: Or we've got more money questions to get to, including

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Speaker 1: HSA's using those effectively, and also talk about the timing

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Speaker 1: of investing. How do you know when you should be

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Speaker 1: an investor or a saber. We'll get to that and

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Speaker 1: more right after this. All right, man, we are back

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Speaker 1: from the break. We've got a question here from a listener.

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Speaker 1: He's got a This is a two for one bagger

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Speaker 1: which includes a question about PMI. Let's hear it, Hi,

427
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Speaker 1: hearty money.

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Speaker 5: My name is Jeremy Miller. I live in Rochester, New

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Speaker 5: York area. I have two questions. First question is I

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Speaker 5: have a HSA account for my employer. My employer, what's

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Speaker 5: set money every July? And I use it. I heard

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Speaker 5: that has tax benefits. Do you supposed to keep you

433
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Speaker 5: a seat or how does those walk? My other question

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Speaker 5: is I think I have a conventional mortgage on my

435
00:19:39,119 --> 00:19:44,040
Speaker 5: house and I didn't do twenty percent down, so I

436
00:19:44,080 --> 00:19:47,240
Speaker 5: have a PMI it would be a good idea of

437
00:19:47,400 --> 00:19:51,520
Speaker 5: prouding to cancel it because I know in my house

438
00:19:51,560 --> 00:19:56,280
Speaker 5: for more five years. I think I like this, so so.

439
00:19:57,920 --> 00:19:58,680
Speaker 1: Jo I will say.

440
00:19:59,119 --> 00:20:02,760
Speaker 2: Jeremy actually into some brewery recommendations that we kind of

441
00:20:02,840 --> 00:20:05,399
Speaker 2: edited out for sake of length for the show, and

442
00:20:05,480 --> 00:20:08,840
Speaker 2: he mentioned Mortalis, which is a really great brewery. That's

443
00:20:08,880 --> 00:20:11,040
Speaker 2: one we've had. We've had a Mortalist beer on the

444
00:20:11,040 --> 00:20:11,600
Speaker 2: show before.

445
00:20:11,720 --> 00:20:14,639
Speaker 1: I think the Mortalist beers that I've had I remember

446
00:20:14,680 --> 00:20:17,960
Speaker 1: being great. I also, I don't think I've ever bought

447
00:20:17,960 --> 00:20:20,120
Speaker 1: beers that were more expensive persons.

448
00:20:20,400 --> 00:20:22,840
Speaker 2: It's like their most expensive beers in the it's actually

449
00:20:22,920 --> 00:20:24,000
Speaker 2: thirty eight dollars or something.

450
00:20:24,040 --> 00:20:26,680
Speaker 1: That's insane. They're good, but I just don't know that

451
00:20:26,720 --> 00:20:29,840
Speaker 1: they're like twice as good. Are good if you're just

452
00:20:29,880 --> 00:20:32,240
Speaker 1: looking for the best, like Jeremy is. Well, when you're

453
00:20:32,240 --> 00:20:33,919
Speaker 1: a high roller like Jeremy, you got to have a

454
00:20:33,920 --> 00:20:36,640
Speaker 1: craft beer equivalent. I know, I know that's true. And

455
00:20:37,040 --> 00:20:39,359
Speaker 1: Jeremy's looking to do everything right, drink the right craft beers,

456
00:20:39,640 --> 00:20:41,640
Speaker 1: make the right moves with this HSA. Let's talk about

457
00:20:41,760 --> 00:20:44,879
Speaker 1: HSA's for a second, Matt. It's a brilliant vehicle to

458
00:20:44,960 --> 00:20:48,639
Speaker 1: avoid tax, and it is underutilized, Like not enough people

459
00:20:48,760 --> 00:20:51,720
Speaker 1: know how good, how epic the HSA can be if

460
00:20:51,760 --> 00:20:55,360
Speaker 1: they use it to its full abilities. And so if

461
00:20:55,400 --> 00:20:58,000
Speaker 1: you funnel money that you plan to use on healthcare

462
00:20:58,520 --> 00:21:01,880
Speaker 1: through your HSA, your health Health Savings account, you can

463
00:21:01,920 --> 00:21:04,479
Speaker 1: avoid both federal and state tax, which is lovely. Depending

464
00:21:04,480 --> 00:21:07,560
Speaker 1: on what your tax rates are and which state you

465
00:21:07,600 --> 00:21:10,840
Speaker 1: live in. That could be meaningful savings, right, And then

466
00:21:11,320 --> 00:21:14,439
Speaker 1: HSA contribution limits went up for everyone next year, so

467
00:21:14,600 --> 00:21:16,120
Speaker 1: make sure you look that up. Know what you could

468
00:21:16,119 --> 00:21:19,480
Speaker 1: stick in there? Something like forty four hundred for individuals

469
00:21:19,480 --> 00:21:23,399
Speaker 1: eighty eight hundred four married couples. Don't quote me on that,

470
00:21:23,400 --> 00:21:26,200
Speaker 1: but it's somewhere right in that vicinity. And as open

471
00:21:26,359 --> 00:21:29,240
Speaker 1: enrollment is coming up for everyone, just don't forget about

472
00:21:29,280 --> 00:21:31,440
Speaker 1: your HSA because it can be this great way to

473
00:21:32,240 --> 00:21:35,120
Speaker 1: save on taxes in the given year, but it can

474
00:21:35,200 --> 00:21:36,600
Speaker 1: even go beyond that too.

475
00:21:36,840 --> 00:21:40,240
Speaker 2: Yeah, and the fact that Jeremy is asking about saving

476
00:21:40,359 --> 00:21:42,919
Speaker 2: the receipts means that he has planning to use his

477
00:21:43,400 --> 00:21:47,200
Speaker 2: HSA his health savings account in the way that we recommend,

478
00:21:47,240 --> 00:21:49,440
Speaker 2: which is not using the money that you stick in

479
00:21:49,600 --> 00:21:53,119
Speaker 2: for current year's health care expenses in order to invest

480
00:21:53,160 --> 00:21:55,199
Speaker 2: that money and to grow up that nest egg. So

481
00:21:55,440 --> 00:21:57,919
Speaker 2: this is the perfect account for that because there is

482
00:21:57,920 --> 00:22:00,639
Speaker 2: no other account where you can avoid taxes completely. The

483
00:22:00,680 --> 00:22:02,720
Speaker 2: moke goes in tax free, it grows tax free, you

484
00:22:02,720 --> 00:22:05,480
Speaker 2: pull it out tax free, and not only that, you

485
00:22:05,480 --> 00:22:08,440
Speaker 2: get to avoid FAIKA payroll tax as well.

486
00:22:08,520 --> 00:22:12,280
Speaker 1: Yeah, if you're contributing right directly through your paycheck deduction. Yeah,

487
00:22:12,320 --> 00:22:14,800
Speaker 1: it's like it's like quadruple tax, druple.

488
00:22:14,600 --> 00:22:18,000
Speaker 2: Tax advantage which you can't beat. And that being said, though,

489
00:22:18,080 --> 00:22:21,600
Speaker 2: keeping some records is incredibly important, which is what he's

490
00:22:21,640 --> 00:22:22,600
Speaker 2: actually asking.

491
00:22:22,320 --> 00:22:25,560
Speaker 1: About, right, agreed, Yeah, that is one of those things

492
00:22:25,560 --> 00:22:28,440
Speaker 1: where you got to kind of jump through the hoops.

493
00:22:28,520 --> 00:22:31,280
Speaker 1: If you want to use the HSA to its maximum potential,

494
00:22:31,840 --> 00:22:33,560
Speaker 1: the best thing to do is to take a picture

495
00:22:33,600 --> 00:22:36,119
Speaker 1: of every healthcare bill you receive so that you have

496
00:22:36,160 --> 00:22:38,560
Speaker 1: a record of it. You want to like digitize those

497
00:22:38,600 --> 00:22:41,320
Speaker 1: bills so that you can go back and rummige through

498
00:22:41,359 --> 00:22:44,040
Speaker 1: them if you need to. But also when you're taking

499
00:22:44,080 --> 00:22:47,000
Speaker 1: that picture, name the file and create like a folder,

500
00:22:47,200 --> 00:22:49,199
Speaker 1: but name the file in a way that makes it

501
00:22:49,240 --> 00:22:52,320
Speaker 1: easily searchable and sortable. So, for instance, when you take

502
00:22:52,320 --> 00:22:55,960
Speaker 1: a picture of a bill that you uh a prescription

503
00:22:56,080 --> 00:22:58,520
Speaker 1: let's say cost you twenty eight dollars, include the date,

504
00:22:58,720 --> 00:23:01,800
Speaker 1: the amount, and where from like a pharmacy down the street,

505
00:23:01,800 --> 00:23:04,040
Speaker 1: blah blah blah, whatever it is. You could even start

506
00:23:04,040 --> 00:23:08,119
Speaker 1: a simple spreadsheet too, but honestly, just organizing your photos

507
00:23:08,160 --> 00:23:10,520
Speaker 1: in that manner might be enough. Where you don't need

508
00:23:10,560 --> 00:23:13,080
Speaker 1: to duplicate and doo a spreadsheet on top of that.

509
00:23:13,200 --> 00:23:15,440
Speaker 1: See I would I would even I like the idea

510
00:23:15,480 --> 00:23:17,560
Speaker 1: of doing the opposite. I like the like spreadsheet and

511
00:23:17,600 --> 00:23:18,280
Speaker 1: not I.

512
00:23:18,200 --> 00:23:21,320
Speaker 2: Would still organize the pictures of the receipts like either

513
00:23:21,720 --> 00:23:25,160
Speaker 2: certainly by year, if not by month, but giving how

514
00:23:25,640 --> 00:23:29,119
Speaker 2: relatively rarely we have medical expenses, they would probably just

515
00:23:29,200 --> 00:23:31,800
Speaker 2: be it by the by the year and then keeping

516
00:23:32,520 --> 00:23:34,199
Speaker 2: just like having a one pager man like having a

517
00:23:34,200 --> 00:23:38,159
Speaker 2: single Google sheet like you said, with the you know

518
00:23:38,240 --> 00:23:41,119
Speaker 2: whatever the state medical service was or the item that

519
00:23:41,160 --> 00:23:43,240
Speaker 2: you purchased, to be able to have a running total,

520
00:23:43,280 --> 00:23:45,159
Speaker 2: because to me, like that is the most important thing,

521
00:23:45,240 --> 00:23:47,120
Speaker 2: is to have a running total as to how much

522
00:23:47,560 --> 00:23:50,200
Speaker 2: you can withdraw from your HSA without having to pay

523
00:23:50,400 --> 00:23:52,800
Speaker 2: taxes on that off in the future. And it's not

524
00:23:53,320 --> 00:23:56,119
Speaker 2: I guess it's partially for you to know how much

525
00:23:56,840 --> 00:23:59,160
Speaker 2: you can legally pull out of that account without without

526
00:23:59,160 --> 00:24:01,480
Speaker 2: paying taxes, but it's also it's mainly for the irs,

527
00:24:01,960 --> 00:24:04,200
Speaker 2: because if you were to get audited, it's to show

528
00:24:04,240 --> 00:24:06,159
Speaker 2: them that oh no, no, no, I don't need to

529
00:24:06,200 --> 00:24:08,199
Speaker 2: pay taxes on this because I have the receipts. The

530
00:24:08,240 --> 00:24:11,960
Speaker 2: show that this is this was for a medical purchase

531
00:24:12,200 --> 00:24:14,640
Speaker 2: or a medical procedure or service that I am now

532
00:24:14,720 --> 00:24:18,600
Speaker 2: reimbursing myself. Right if the IRS comes knocking at your door, Jeremy,

533
00:24:18,600 --> 00:24:20,840
Speaker 2: you can say, oh no, look at my record keeping,

534
00:24:20,960 --> 00:24:23,800
Speaker 2: and yes, I did withdraw six thousand dollars from my

535
00:24:23,920 --> 00:24:27,159
Speaker 2: HSA this year, But look at I have fifteen thousand

536
00:24:27,200 --> 00:24:29,960
Speaker 2: dollars in healthcare expenses over the past decade. I just

537
00:24:29,960 --> 00:24:31,720
Speaker 2: decided to pull six grand out of it because I

538
00:24:31,800 --> 00:24:33,240
Speaker 2: want the rest to keep growing. But I needed that

539
00:24:33,320 --> 00:24:35,760
Speaker 2: six k. And that's one of the coolest things about

540
00:24:35,760 --> 00:24:38,840
Speaker 2: the HSA is just so dang flexible. So while you're

541
00:24:39,440 --> 00:24:42,760
Speaker 2: investing those funds for years and decades to come, you

542
00:24:42,760 --> 00:24:46,320
Speaker 2: still have the ability to withdraw them anytime, right after

543
00:24:46,400 --> 00:24:49,920
Speaker 2: the after that health care expense has been accrued. So

544
00:24:50,320 --> 00:24:52,680
Speaker 2: it's a pretty brad account with a ton of like

545
00:24:52,720 --> 00:24:55,399
Speaker 2: not just tax savings, but also flexibility for when you

546
00:24:55,440 --> 00:24:56,160
Speaker 2: access the money.

547
00:24:56,240 --> 00:24:58,920
Speaker 1: Yeah, and they're apps too. I just think it's worth

548
00:24:58,960 --> 00:25:01,320
Speaker 1: mentioning their apps and help you organize your receipts. But

549
00:25:01,640 --> 00:25:03,199
Speaker 1: a lot of them charging an annual fee, and I

550
00:25:03,200 --> 00:25:05,520
Speaker 1: think the kind of what Matt and I are describing

551
00:25:05,920 --> 00:25:07,680
Speaker 1: doesn't cost you anything. It's really not that hard to

552
00:25:07,680 --> 00:25:08,119
Speaker 1: implement that.

553
00:25:08,240 --> 00:25:09,920
Speaker 2: Really, Yeah, it's not hot, Like I think you're over

554
00:25:09,960 --> 00:25:11,760
Speaker 2: complicating it if you go with a separate app to

555
00:25:11,800 --> 00:25:14,399
Speaker 2: try to fix this thing. I agree, Man, I agree. Yeah,

556
00:25:14,480 --> 00:25:16,600
Speaker 2: I think I've proven to myself how easy it is.

557
00:25:16,680 --> 00:25:18,960
Speaker 2: This year is when I started a spreadsheet for our

558
00:25:19,080 --> 00:25:21,879
Speaker 2: daughter for her earnings for her sporadic babysitting money. And

559
00:25:21,920 --> 00:25:24,720
Speaker 2: it's just so stinking easy, Like anytime she earns some money,

560
00:25:24,720 --> 00:25:25,399
Speaker 2: I just keep up with it.

561
00:25:25,440 --> 00:25:27,000
Speaker 1: There. It takes about twenty two seconds.

562
00:25:27,560 --> 00:25:29,320
Speaker 2: It takes no time at all, and a lot of

563
00:25:29,320 --> 00:25:32,240
Speaker 2: times it's just copy and pasting the previous entry and

564
00:25:32,320 --> 00:25:35,680
Speaker 2: changing the amounts and updating the date. But then I'm

565
00:25:35,720 --> 00:25:37,600
Speaker 2: able to just quickly see, oh, this is how much

566
00:25:37,640 --> 00:25:39,199
Speaker 2: she's earned this year, which means I know, by the

567
00:25:39,240 --> 00:25:41,800
Speaker 2: end of the year, even if she doesn't choose to

568
00:25:41,960 --> 00:25:44,800
Speaker 2: quote unquote invest all that money, I can potentially match

569
00:25:44,880 --> 00:25:47,280
Speaker 2: to get up to that amount if she wanted to

570
00:25:47,320 --> 00:25:49,840
Speaker 2: invest that within her wroth. I R yeah, but it's

571
00:25:49,920 --> 00:25:52,720
Speaker 2: so simple, I would definitely recommend it. Jeremy also asked

572
00:25:52,720 --> 00:25:55,840
Speaker 2: about PMI and man part of the reason that We're

573
00:25:55,840 --> 00:25:59,040
Speaker 2: fans of putting twenty percent down is because it just

574
00:25:59,119 --> 00:26:03,199
Speaker 2: allows you to that PMI, that private mortgage insurance all together.

575
00:26:03,760 --> 00:26:06,440
Speaker 2: But especially for first time home buyers, I think that

576
00:26:06,560 --> 00:26:08,879
Speaker 2: might be a really tall order. It can be a

577
00:26:08,880 --> 00:26:11,600
Speaker 2: tough goal, and so instead trying to get rid of

578
00:26:11,680 --> 00:26:13,720
Speaker 2: rid of it as quickly as possible is a.

579
00:26:13,600 --> 00:26:15,880
Speaker 1: Wive move, is a wise move.

580
00:26:16,240 --> 00:26:19,639
Speaker 2: It'll automatically fall off once you reach a loan to

581
00:26:19,720 --> 00:26:23,480
Speaker 2: value ratio of seventy eight percent, But even once you've

582
00:26:23,480 --> 00:26:26,960
Speaker 2: reached eighty percent, you can request that the lender drop

583
00:26:27,000 --> 00:26:29,600
Speaker 2: it early. And that's whether maybe you've paid down the

584
00:26:30,400 --> 00:26:33,000
Speaker 2: balance enough or maybe it's because the home has just

585
00:26:33,119 --> 00:26:35,600
Speaker 2: risen in value. And I think for most folks it's

586
00:26:35,640 --> 00:26:38,320
Speaker 2: typically like a combination of both of the two. But

587
00:26:38,359 --> 00:26:40,920
Speaker 2: either way, trying to get PMI out of your life

588
00:26:40,960 --> 00:26:43,240
Speaker 2: it's going to be a big money saver every single month.

589
00:26:43,320 --> 00:26:45,760
Speaker 1: Sure, I don't know what average PMI is on a home.

590
00:26:45,800 --> 00:26:47,120
Speaker 1: I'm going to make guess like one hundred and eighty

591
00:26:47,119 --> 00:26:48,680
Speaker 1: bucks a month or something like that. You're talking about

592
00:26:48,680 --> 00:26:49,239
Speaker 1: two grand a year.

593
00:26:49,280 --> 00:26:51,399
Speaker 2: Depends on the Yeah, it depends on the home, depends

594
00:26:51,440 --> 00:26:54,120
Speaker 2: on your credit score. When you purchase the home because

595
00:26:54,160 --> 00:26:56,560
Speaker 2: it can range in percentage yeah, percentage points.

596
00:26:56,600 --> 00:26:58,480
Speaker 1: So if we're talking about two grand a year, I

597
00:26:58,480 --> 00:27:02,200
Speaker 1: would be willing to do whatever it took to try

598
00:27:02,240 --> 00:27:04,159
Speaker 1: to get out of that. If you feel like you

599
00:27:04,280 --> 00:27:06,320
Speaker 1: qualify at this point because you're yeah, one of those

600
00:27:06,359 --> 00:27:08,920
Speaker 1: combo has been reached, just know that your lender might

601
00:27:08,960 --> 00:27:11,959
Speaker 1: require an appraisal if you haven't reached that seventy eight

602
00:27:11,960 --> 00:27:14,600
Speaker 1: percent loan to value ratio just yet. They might make

603
00:27:14,600 --> 00:27:17,040
Speaker 1: you pay for that appraisal if you're trying to get

604
00:27:17,040 --> 00:27:19,440
Speaker 1: it waived early before you've actually gotten to that point.

605
00:27:19,840 --> 00:27:22,040
Speaker 1: But if you're pretty sure that you've reached that point,

606
00:27:22,160 --> 00:27:25,320
Speaker 1: and you'd likely you'd likely pay off that appraisal cost

607
00:27:25,640 --> 00:27:28,159
Speaker 1: with the PMI removal in just a few months. So

608
00:27:28,160 --> 00:27:30,560
Speaker 1: an appraisal might cost five hundred bucks, five hundred and

609
00:27:30,560 --> 00:27:32,920
Speaker 1: fifty bucks or something like that. If that's three months

610
00:27:32,960 --> 00:27:35,840
Speaker 1: worth of PMI I think it's and you're pretty sure

611
00:27:35,880 --> 00:27:38,600
Speaker 1: that you've hit that point in the loan payoff process,

612
00:27:39,040 --> 00:27:41,679
Speaker 1: then it's totally worth paying for the appraisal so you

613
00:27:41,680 --> 00:27:43,679
Speaker 1: get that PMI knocked off. If you've been in the

614
00:27:43,680 --> 00:27:47,040
Speaker 1: house for five years, odds are that you've reached that point.

615
00:27:47,160 --> 00:27:49,400
Speaker 1: But it depends, yeah, again on how much you put down,

616
00:27:49,440 --> 00:27:51,879
Speaker 1: whether you've been paying extra, and what's been happening in

617
00:27:51,920 --> 00:27:54,399
Speaker 1: your specific housing market. But if you're pretty confident you

618
00:27:54,440 --> 00:27:57,439
Speaker 1: feel good about that, I think it's worth barking up

619
00:27:57,480 --> 00:27:59,919
Speaker 1: that tree, asking your lender and getting that A pre

620
00:28:00,320 --> 00:28:03,240
Speaker 1: ordered so you can hopefully get rid of PMI in

621
00:28:03,280 --> 00:28:04,240
Speaker 1: the very near future.

622
00:28:04,440 --> 00:28:05,240
Speaker 2: That's right, Jeremy.

623
00:28:05,240 --> 00:28:05,919
Speaker 1: We hope that helps.

624
00:28:06,160 --> 00:28:09,040
Speaker 2: And if we ever find ourselves around the most expensive

625
00:28:09,119 --> 00:28:11,800
Speaker 2: brewery in the country, we'll hit you up.

626
00:28:12,400 --> 00:28:14,960
Speaker 1: I'll throw more talus. Joel.

627
00:28:15,080 --> 00:28:19,080
Speaker 2: Let's hear from another listener who has multiple retirement accounts

628
00:28:19,119 --> 00:28:21,919
Speaker 2: and she's trying to make sure she's making the best moves,

629
00:28:21,960 --> 00:28:24,440
Speaker 2: the smartest moves with those different accounts.

630
00:28:24,960 --> 00:28:27,280
Speaker 4: Hey, Joel and Matt, this is Katie calling from the

631
00:28:27,280 --> 00:28:31,159
Speaker 4: beautiful Finger Lakes area in New York State. I just

632
00:28:31,280 --> 00:28:33,960
Speaker 4: discovered the podcast a few months ago. I've learned a

633
00:28:34,000 --> 00:28:36,720
Speaker 4: lot so far from you guys. Thanks so much for

634
00:28:36,800 --> 00:28:40,840
Speaker 4: the fantastic content. Really appreciate what you're doing. So I

635
00:28:40,920 --> 00:28:43,400
Speaker 4: have a question regarding an old four h three B.

636
00:28:43,960 --> 00:28:48,600
Speaker 4: I recently changed employers and my new employer offers a

637
00:28:48,640 --> 00:28:51,200
Speaker 4: four h three B plan with a match that I'm

638
00:28:51,240 --> 00:28:55,400
Speaker 4: taking advantage of currently. However, the match comes with a

639
00:28:55,440 --> 00:29:00,360
Speaker 4: five year vesting period. I likely will not day with

640
00:29:00,400 --> 00:29:04,280
Speaker 4: this employee for that entire five year period. So my

641
00:29:04,400 --> 00:29:08,240
Speaker 4: questions are, one, do you think that rolling over my

642
00:29:08,320 --> 00:29:11,040
Speaker 4: old four oh three B into a roth ira is

643
00:29:11,080 --> 00:29:14,920
Speaker 4: the best thing I can do with these funds? And two,

644
00:29:15,560 --> 00:29:18,560
Speaker 4: considering I will likely not be able to take advantage

645
00:29:18,680 --> 00:29:22,600
Speaker 4: of my current employer's match, should I consider putting a

646
00:29:22,680 --> 00:29:27,360
Speaker 4: higher percentage of my income toward another type of retirement investment?

647
00:29:28,000 --> 00:29:28,720
Speaker 4: Thanks a lot for.

648
00:29:28,680 --> 00:29:31,840
Speaker 1: Your help, Matt. I looked up some pictures of the

649
00:29:31,840 --> 00:29:34,800
Speaker 1: Finger Lakes region and didn't realize there are so many

650
00:29:35,000 --> 00:29:37,400
Speaker 1: beautiful looking waterfalls up there. It looks like a place

651
00:29:37,400 --> 00:29:38,959
Speaker 1: to go in the fall, like we should go when

652
00:29:39,000 --> 00:29:40,320
Speaker 1: the leaves are changing someday.

653
00:29:40,400 --> 00:29:42,080
Speaker 2: Is that also near Mortalis?

654
00:29:42,560 --> 00:29:42,760
Speaker 5: Oh?

655
00:29:42,800 --> 00:29:43,200
Speaker 2: I don't know.

656
00:29:43,240 --> 00:29:45,920
Speaker 1: That's a good question, I think, so is it? Okay?

657
00:29:46,040 --> 00:29:47,840
Speaker 2: All right, we'll hit up all the above. I think

658
00:29:47,840 --> 00:29:49,680
Speaker 2: that's called upstate upstate New York.

659
00:29:49,720 --> 00:29:52,480
Speaker 1: It is? Yeah, okay, yeah, so Katie, we'll let you

660
00:29:52,520 --> 00:29:55,160
Speaker 1: know if we make it up. Well, everyone love an

661
00:29:55,160 --> 00:29:58,280
Speaker 1: event at Mortalis I love that you you check to

662
00:29:58,280 --> 00:30:00,120
Speaker 1: see what the besting period is. By the way, from

663
00:30:00,160 --> 00:30:02,480
Speaker 1: your employer, not enough people do this, Matt. This is

664
00:30:02,480 --> 00:30:04,880
Speaker 1: a step that people skip. They just kind of start

665
00:30:04,920 --> 00:30:09,200
Speaker 1: contributing to their workplace retirement account before looking into the details.

666
00:30:09,200 --> 00:30:14,160
Speaker 1: And some employers are less ornery about this, and we'll

667
00:30:14,160 --> 00:30:17,000
Speaker 1: have like a one year investing period. But the five

668
00:30:17,080 --> 00:30:19,880
Speaker 1: year that's that's like, that's on the long end. That's

669
00:30:19,920 --> 00:30:23,120
Speaker 1: the longest I know of, and so it's three typical

670
00:30:23,240 --> 00:30:25,320
Speaker 1: five is like, ugh, yeah, it's a long time. It

671
00:30:25,320 --> 00:30:27,200
Speaker 1: feels like a little bit of a gut punch. It's

672
00:30:27,200 --> 00:30:29,760
Speaker 1: about as long as it gets. Sorry about that, Katie.

673
00:30:30,240 --> 00:30:32,719
Speaker 1: To everyone else out there, though, the matching vesting period

674
00:30:32,840 --> 00:30:35,880
Speaker 1: and then your likelihood of staying with an employer, it

675
00:30:35,880 --> 00:30:39,440
Speaker 1: should impact where like which accounts you opt to save

676
00:30:39,520 --> 00:30:42,560
Speaker 1: for retirement inside of, because if you don't actually receive

677
00:30:42,680 --> 00:30:45,520
Speaker 1: the match because you're not there long enough, it was

678
00:30:45,800 --> 00:30:48,640
Speaker 1: like this mirage right of a match that you were

679
00:30:48,640 --> 00:30:51,720
Speaker 1: getting from investing retirement that doesn't actually accrue to you. Yeah.

680
00:30:51,800 --> 00:30:54,160
Speaker 2: Yeah, she's in this wasteland where all the teachers are

681
00:30:54,200 --> 00:30:58,480
Speaker 2: because they're not that teaching is I'm assuming she's a

682
00:30:58,480 --> 00:31:01,320
Speaker 2: teacher because it's a it's a fourth three be of course, yeah,

683
00:31:01,360 --> 00:31:03,680
Speaker 2: but teachers often aren't even though it's very fulfilling work.

684
00:31:03,720 --> 00:31:07,400
Speaker 2: The financially compensated probably what they should be.

685
00:31:07,440 --> 00:31:09,000
Speaker 1: So it could be she could be a nurse, like

686
00:31:09,040 --> 00:31:10,240
Speaker 1: there's a lesser of potential.

687
00:31:10,600 --> 00:31:12,360
Speaker 2: It needs to be a five ho C three Yes,

688
00:31:12,640 --> 00:31:15,040
Speaker 2: but yes, it's a mirage of financial of like a

689
00:31:15,080 --> 00:31:17,320
Speaker 2: financial payout, and then she gets closer to it and

690
00:31:17,320 --> 00:31:19,800
Speaker 2: then all of a sudden, Yeah, but at least gone,

691
00:31:19,840 --> 00:31:20,520
Speaker 2: but at least.

692
00:31:20,320 --> 00:31:22,640
Speaker 1: She realizes that on the front end, so she can

693
00:31:22,800 --> 00:31:26,280
Speaker 1: change her habits Accordingly, some people don't realize that. They're like,

694
00:31:26,960 --> 00:31:29,520
Speaker 1: I leave after three years, and they don't realize I've

695
00:31:29,520 --> 00:31:32,160
Speaker 1: been socking money in, but that match doesn't stick around.

696
00:31:32,160 --> 00:31:34,479
Speaker 2: They don't get those additional employer dollars. Yeah, the way

697
00:31:34,520 --> 00:31:37,040
Speaker 2: it works, the investing works. Like your dollars, you get

698
00:31:37,040 --> 00:31:38,920
Speaker 2: to take those, of course, but the dollars that your

699
00:31:38,920 --> 00:31:42,040
Speaker 2: employer was was pumping in you don't get to keep those.

700
00:31:42,120 --> 00:31:43,560
Speaker 1: That's how it works. But let's start.

701
00:31:43,680 --> 00:31:45,200
Speaker 2: Let's start with the second part of your question first,

702
00:31:45,200 --> 00:31:48,760
Speaker 2: which is where should you invest given the reality that

703
00:31:48,840 --> 00:31:52,120
Speaker 2: you likely won't reap those matching dollars. Well, our money

704
00:31:52,160 --> 00:31:54,520
Speaker 2: gears are in favor of stagging the match of course

705
00:31:54,560 --> 00:31:58,200
Speaker 2: before you invest in a roth ira. But because it's

706
00:31:58,240 --> 00:32:00,360
Speaker 2: unlikely that you're going to get the match in your

707
00:32:00,360 --> 00:32:02,360
Speaker 2: future plans, I would say go ahead and prioritize the

708
00:32:02,400 --> 00:32:07,160
Speaker 2: roth ira first, totally, make sure to max that thing out.

709
00:32:07,200 --> 00:32:10,680
Speaker 2: And actually, since you are not with somebody, get your

710
00:32:10,720 --> 00:32:12,440
Speaker 2: get your match, you can have your cake and eat

711
00:32:12,480 --> 00:32:15,320
Speaker 2: it too. Katie, head over to robin Hood because robin

712
00:32:15,320 --> 00:32:18,720
Speaker 2: Hood Gold is one of the few non work provided

713
00:32:19,000 --> 00:32:22,920
Speaker 2: or sponsored iras that allow you to invest over there

714
00:32:22,960 --> 00:32:25,840
Speaker 2: and get a match. So that's like a it's gonna

715
00:32:25,840 --> 00:32:27,880
Speaker 2: cost you some money. You have to pay for their membership,

716
00:32:28,240 --> 00:32:31,160
Speaker 2: but we're talking about a three percent match on your

717
00:32:31,200 --> 00:32:34,800
Speaker 2: IRA contributions and it costs I want to say, fifty.

718
00:32:34,400 --> 00:32:36,120
Speaker 1: Bucks for an annual membership.

719
00:32:36,120 --> 00:32:40,000
Speaker 2: There's or so it's five dollars monthly, fifty if you

720
00:32:40,000 --> 00:32:41,520
Speaker 2: pay all at once, if you pay annually.

721
00:32:42,680 --> 00:32:44,120
Speaker 1: So we haven't really talked about that.

722
00:32:44,280 --> 00:32:44,800
Speaker 2: It's been a minute.

723
00:32:45,120 --> 00:32:45,280
Speaker 1: Match.

724
00:32:45,360 --> 00:32:47,520
Speaker 2: Yeah, yeah, it's been a minute since we've talked about that.

725
00:32:47,520 --> 00:32:49,400
Speaker 2: I was really excited when it first came out. Read

726
00:32:49,440 --> 00:32:54,040
Speaker 2: the fine print about print because speaking of matching another U. Okay,

727
00:32:54,080 --> 00:32:56,800
Speaker 2: so you have to keep it for oh gosh, I

728
00:32:56,880 --> 00:32:58,600
Speaker 2: want to say five years the money okay, so the

729
00:32:58,640 --> 00:33:00,760
Speaker 2: money has to stay there in the account for five years,

730
00:33:00,800 --> 00:33:03,480
Speaker 2: but you only need to actually pay for Robinhood Gold

731
00:33:03,880 --> 00:33:06,520
Speaker 2: for one year. Okay, So you keep it for one

732
00:33:06,560 --> 00:33:09,520
Speaker 2: year after you make these contributions. That's sort of like

733
00:33:09,560 --> 00:33:12,040
Speaker 2: one little hurdle in this. In the second hurdle is

734
00:33:12,360 --> 00:33:14,920
Speaker 2: keeping those dollars there within that account for five years

735
00:33:14,960 --> 00:33:17,760
Speaker 2: in order to maintain that. So that's the IRA, but

736
00:33:17,760 --> 00:33:20,120
Speaker 2: after that starts sticking money into your four three B

737
00:33:20,240 --> 00:33:23,640
Speaker 2: at work, I would say up to the match level,

738
00:33:24,080 --> 00:33:26,120
Speaker 2: especially if it's with one of our favorite low cost

739
00:33:26,200 --> 00:33:29,400
Speaker 2: companies like Fidelity, which manages a ton of four or

740
00:33:29,440 --> 00:33:31,360
Speaker 2: three B accounts. By the way, because hey, the reason

741
00:33:31,400 --> 00:33:33,000
Speaker 2: you would want to do this is you might end

742
00:33:33,080 --> 00:33:35,640
Speaker 2: up sticking around and getting that match after all.

743
00:33:35,720 --> 00:33:36,600
Speaker 1: And so you're saying that.

744
00:33:36,560 --> 00:33:38,160
Speaker 2: You don't think that you're going to be there, but

745
00:33:38,600 --> 00:33:41,360
Speaker 2: a lot of life can happen in five years. There

746
00:33:41,360 --> 00:33:43,040
Speaker 2: could be all sorts of reasons that cause you to

747
00:33:43,040 --> 00:33:43,680
Speaker 2: stay where.

748
00:33:43,480 --> 00:33:45,960
Speaker 1: You are, and then if you did stay, you might

749
00:33:46,040 --> 00:33:48,160
Speaker 1: regret not having put any money in the four or

750
00:33:48,160 --> 00:33:48,920
Speaker 1: three BE because you're.

751
00:33:48,800 --> 00:33:50,080
Speaker 2: Like, dang it, I would have got yes, what you

752
00:33:50,120 --> 00:33:52,920
Speaker 2: can't do go back in time? You can contribute exactly.

753
00:33:52,960 --> 00:33:54,520
Speaker 2: Just something to keep in mind. She didn't say I

754
00:33:54,560 --> 00:33:56,160
Speaker 2: know I'm not going to be there. She said it's

755
00:33:56,200 --> 00:33:58,640
Speaker 2: not likely, yes, And so if that's the case, yeah,

756
00:33:58,720 --> 00:34:01,280
Speaker 2: proteser roth Ira first. But hopefully you can put some

757
00:34:01,320 --> 00:34:02,960
Speaker 2: money into the four or three B and if you

758
00:34:02,960 --> 00:34:07,400
Speaker 2: do end up staying there, boom shakalaka, you also get

759
00:34:07,440 --> 00:34:08,840
Speaker 2: access to some of those matching dollars.

760
00:34:09,239 --> 00:34:12,400
Speaker 1: That was my nbah styles. Gosh, that was a good one.

761
00:34:12,400 --> 00:34:13,719
Speaker 2: It's been so long since I've played.

762
00:34:13,560 --> 00:34:16,560
Speaker 1: Played that a lot back in the day. So, Katie,

763
00:34:16,560 --> 00:34:20,920
Speaker 1: if you've got money above and beyond roth max contribution limits,

764
00:34:20,920 --> 00:34:22,640
Speaker 1: go back to the four or three B. And then

765
00:34:22,680 --> 00:34:25,680
Speaker 1: after that, I would say you could stick more in

766
00:34:25,680 --> 00:34:28,760
Speaker 1: a taxable brokerage account. That would give you more flexibility

767
00:34:28,880 --> 00:34:31,439
Speaker 1: over when you use those dollars. But you're not gonna

768
00:34:31,440 --> 00:34:33,880
Speaker 1: get as nice of a tax break as sticking it

769
00:34:33,920 --> 00:34:35,400
Speaker 1: in the four or three B where you're going to

770
00:34:35,480 --> 00:34:39,160
Speaker 1: get a tax deduction this year. And then so what

771
00:34:39,200 --> 00:34:40,520
Speaker 1: do you do with your old four three B that

772
00:34:40,600 --> 00:34:44,080
Speaker 1: was your next question, And it depends you. You offered

773
00:34:44,120 --> 00:34:47,960
Speaker 1: one suggestion, but I would consider leaving it put if

774
00:34:47,960 --> 00:34:50,200
Speaker 1: it's with a low cost company like Fidelity, right like.

775
00:34:50,840 --> 00:34:52,600
Speaker 1: If not and your current one is with a low

776
00:34:52,600 --> 00:34:55,160
Speaker 1: cost option like Fidelity, you could roll your old four

777
00:34:55,200 --> 00:34:57,560
Speaker 1: h three B into your current four oh three B.

778
00:34:58,040 --> 00:35:01,719
Speaker 1: Most employer plans except those rollovers, so that would be

779
00:35:02,440 --> 00:35:04,640
Speaker 1: probably what I'd look into if I were you. If

780
00:35:04,680 --> 00:35:07,719
Speaker 1: your current four or three B is better than your

781
00:35:07,760 --> 00:35:09,759
Speaker 1: old one from a cost perspective, doing that just kind

782
00:35:09,760 --> 00:35:13,399
Speaker 1: of consolidates and simplifies things, So that'd probably be where

783
00:35:13,400 --> 00:35:14,080
Speaker 1: my head was at.

784
00:35:14,160 --> 00:35:16,200
Speaker 2: You can have multiple accounts. It's just a matter of

785
00:35:16,200 --> 00:35:18,920
Speaker 2: staying organized, and it kind of comes down to personal preference.

786
00:35:18,960 --> 00:35:21,520
Speaker 2: I guess like I've got multiple I've got iras scattered

787
00:35:21,520 --> 00:35:26,000
Speaker 2: across lots of different brokerages, like iras different brokerages, and

788
00:35:26,160 --> 00:35:27,120
Speaker 2: you just gotta stay organized.

789
00:35:27,120 --> 00:35:28,920
Speaker 1: They're like, make sure you're from an IRA perspective.

790
00:35:30,360 --> 00:35:31,839
Speaker 2: We have a show here, we got to talk about

791
00:35:31,840 --> 00:35:33,640
Speaker 2: the pros and cons of each one. Make sure that

792
00:35:33,680 --> 00:35:35,759
Speaker 2: you know they got similar offerings. You just have to

793
00:35:35,760 --> 00:35:39,560
Speaker 2: stay organized. Make sure your addresses, beneficiaries are staying up

794
00:35:39,600 --> 00:35:41,919
Speaker 2: to date on all those different accounts, because that's something

795
00:35:42,120 --> 00:35:43,120
Speaker 2: you don't want to don't.

796
00:35:42,920 --> 00:35:44,080
Speaker 1: Get me started on that right now.

797
00:35:44,200 --> 00:35:46,319
Speaker 2: Oh yeah, just maybe we'll say it for another shot.

798
00:35:46,360 --> 00:35:47,200
Speaker 1: Yeah, Okay.

799
00:35:47,480 --> 00:35:52,279
Speaker 2: One slight silver lining of having multiple accounts is the fact, Katie, like,

800
00:35:52,400 --> 00:35:54,480
Speaker 2: after you've done this for maybe a couple of decades

801
00:35:55,000 --> 00:35:57,399
Speaker 2: and like you could have some like a serious nest

802
00:35:57,400 --> 00:35:58,160
Speaker 2: egg saved.

803
00:35:58,000 --> 00:36:01,320
Speaker 1: Up, and there is a slight risk.

804
00:36:01,280 --> 00:36:04,120
Speaker 2: That you're able to mitigate by having multiple these accounts

805
00:36:04,120 --> 00:36:07,560
Speaker 2: with multiple brokerages. Because of the SIPC insurance, it's limited

806
00:36:07,640 --> 00:36:11,439
Speaker 2: at five hundred thousand dollars, and so you might be thinking, yeah, okay,

807
00:36:11,480 --> 00:36:13,120
Speaker 2: that's a ton of money it's going to take me

808
00:36:13,200 --> 00:36:15,800
Speaker 2: forever to get I'm just saying there's a slight chance

809
00:36:16,080 --> 00:36:19,160
Speaker 2: that were something awful to happen with some of the

810
00:36:19,200 --> 00:36:22,240
Speaker 2: different brokerages due to fraud or something like that. Security

811
00:36:22,239 --> 00:36:24,680
Speaker 2: stocks that you have that you're invested in are early

812
00:36:25,360 --> 00:36:27,480
Speaker 2: backed up to five hundred thousand dollars. So just a

813
00:36:27,480 --> 00:36:30,600
Speaker 2: small little thing. And I even hesitate even bringing this up,

814
00:36:30,680 --> 00:36:32,880
Speaker 2: so yeah, let's just move on. It's a small, small thing.

815
00:36:32,920 --> 00:36:36,320
Speaker 1: Probably the bigger thing is what are the costs at

816
00:36:36,600 --> 00:36:38,640
Speaker 1: that is easily the fun costs at the brokerage that

817
00:36:38,640 --> 00:36:40,799
Speaker 1: you're doing business with, and if you're like, well, one

818
00:36:40,800 --> 00:36:42,520
Speaker 1: of them is like with an insurance company and the

819
00:36:42,560 --> 00:36:45,000
Speaker 1: costs are like kind of high, and then the other

820
00:36:45,040 --> 00:36:47,799
Speaker 1: one is with one of the low cost good guys

821
00:36:47,800 --> 00:36:50,080
Speaker 1: that Matt and Joel talks with Vanguard's. That's what I'd

822
00:36:50,080 --> 00:36:52,680
Speaker 1: want to be with then, right, so just I would

823
00:36:52,680 --> 00:36:55,040
Speaker 1: probably let that be the tail that waxy dog. Here

824
00:36:55,120 --> 00:36:57,640
Speaker 1: is the costs, and then try to put everything into that.

825
00:36:57,680 --> 00:37:01,280
Speaker 1: And then Katie also mentioned by the way direct rollover

826
00:37:01,360 --> 00:37:02,560
Speaker 1: is the way to go, so you're not creating a

827
00:37:02,560 --> 00:37:05,720
Speaker 1: tax problem for yourself. You also asked about rolling over

828
00:37:05,920 --> 00:37:08,520
Speaker 1: your four or three B into a roth ira, and

829
00:37:08,800 --> 00:37:11,520
Speaker 1: I love the idea. Right, if your four to three

830
00:37:11,520 --> 00:37:13,839
Speaker 1: B is a wroth four or three B, turning into

831
00:37:13,840 --> 00:37:17,359
Speaker 1: a roth ira can make a lot of sense. If not, though,

832
00:37:17,480 --> 00:37:21,400
Speaker 1: you'd tax because you wouldn't just be talking about a rollover,

833
00:37:21,480 --> 00:37:24,000
Speaker 1: you'd be talking about a conversion from a traditional to

834
00:37:24,040 --> 00:37:27,080
Speaker 1: a wroth. And there's a lot to consider before you

835
00:37:27,120 --> 00:37:29,919
Speaker 1: make a move like that, like your current income, your

836
00:37:30,040 --> 00:37:33,160
Speaker 1: likely future income. You're because if your future income is

837
00:37:33,160 --> 00:37:35,120
Speaker 1: going to be lower in a few years. Then you

838
00:37:35,200 --> 00:37:36,279
Speaker 1: might want to do it in a year where your

839
00:37:36,280 --> 00:37:38,840
Speaker 1: income's down the amount of money in your four or

840
00:37:38,840 --> 00:37:41,160
Speaker 1: three B. If we're talking about two hundred grand like,

841
00:37:41,200 --> 00:37:43,560
Speaker 1: then you could create a serious tax problem. If you're

842
00:37:43,560 --> 00:37:47,920
Speaker 1: talking about five grand, then the tax implications are minimal.

843
00:37:48,320 --> 00:37:50,840
Speaker 1: Run the math on the tax that you'd owe before

844
00:37:51,400 --> 00:37:54,480
Speaker 1: turning traditional four or three B dollars into roth IRA

845
00:37:54,600 --> 00:37:56,920
Speaker 1: dollars if you think it makes sense. After doing that,

846
00:37:57,320 --> 00:37:58,920
Speaker 1: make sure that you have the cash on hand to

847
00:37:58,960 --> 00:38:01,719
Speaker 1: pay the higher tax bill. On the bright side, you'd

848
00:38:01,760 --> 00:38:04,200
Speaker 1: never owe tax on those dollars again, which is kind

849
00:38:04,200 --> 00:38:06,320
Speaker 1: of fun, but it also might not be the most

850
00:38:06,360 --> 00:38:09,959
Speaker 1: optimized choice because you're usually looking probably for like non

851
00:38:10,000 --> 00:38:13,600
Speaker 1: working years. Even in that recent conversation I had with

852
00:38:13,640 --> 00:38:17,560
Speaker 1: Cody Garrett, in those early sixties is often the time

853
00:38:17,760 --> 00:38:19,960
Speaker 1: where you want to be rolling over some of those

854
00:38:20,400 --> 00:38:22,680
Speaker 1: some of those funds. You kind of want to find

855
00:38:22,680 --> 00:38:26,040
Speaker 1: this strategic time to reduce your overall tax burden.

856
00:38:26,120 --> 00:38:28,520
Speaker 2: That's right. And of course she could roll over like

857
00:38:28,520 --> 00:38:31,160
Speaker 2: a quote unquote traditional four three B to a regular

858
00:38:31,320 --> 00:38:35,200
Speaker 2: IRA or a traditional IRA, but then there's not much

859
00:38:35,239 --> 00:38:38,440
Speaker 2: benefit there. Assuming she's with a low cost provider. It's

860
00:38:38,480 --> 00:38:40,960
Speaker 2: basically kind of the same thing, so something to consider.

861
00:38:41,120 --> 00:38:44,120
Speaker 2: But Joe, we've still got that medium term investing question

862
00:38:44,320 --> 00:38:47,400
Speaker 2: to get to whether or not this individual should invest

863
00:38:47,440 --> 00:38:49,520
Speaker 2: those dollars. We'll get to that more right after this.

864
00:38:57,280 --> 00:38:59,520
Speaker 1: All right, we're back. Let's get some more money questions.

865
00:38:59,560 --> 00:39:03,239
Speaker 1: This one, it's a Facebook question that week comes from Jessica.

866
00:39:03,680 --> 00:39:06,160
Speaker 1: She says, explain it like I'm a child. I have

867
00:39:06,160 --> 00:39:08,759
Speaker 1: a Fidelity roth Ira account. How much of it should

868
00:39:08,800 --> 00:39:11,960
Speaker 1: I invest? And into? How many different funds or stocks

869
00:39:12,040 --> 00:39:15,319
Speaker 1: should I split it? Lastly, how often do I need

870
00:39:15,360 --> 00:39:17,960
Speaker 1: to be doing this? Do I just add new deposits

871
00:39:18,000 --> 00:39:22,360
Speaker 1: into the same investments or do I constantly buy new ones? Help? Matt,

872
00:39:22,760 --> 00:39:24,240
Speaker 1: you're good at explaining things to children.

873
00:39:24,280 --> 00:39:26,440
Speaker 2: I think I tend to over explain things to my children.

874
00:39:27,120 --> 00:39:30,520
Speaker 2: First of all, they're like, Dad, we get it. Jessica,

875
00:39:30,800 --> 00:39:32,120
Speaker 2: I want to just highlight here that it sounds like

876
00:39:32,120 --> 00:39:36,400
Speaker 2: you're doing great. You've opted to invest via Fidelity, which

877
00:39:36,480 --> 00:39:38,680
Speaker 2: is a brilliant move. I think that's going to pay

878
00:39:38,719 --> 00:39:41,480
Speaker 2: off handsomely for years to come, for decades to come,

879
00:39:41,520 --> 00:39:45,680
Speaker 2: thanks to they're incredibly low costs. But onto these specifics

880
00:39:46,040 --> 00:39:48,359
Speaker 2: you should invest all of the money. If those dollars

881
00:39:48,360 --> 00:39:50,560
Speaker 2: have been funneled into your roth ara, I hope that

882
00:39:50,600 --> 00:39:52,560
Speaker 2: means that you're you know, you've got no need for

883
00:39:52,600 --> 00:39:56,280
Speaker 2: it in the coming years or even in the coming decades,

884
00:39:56,280 --> 00:39:58,480
Speaker 2: and that you've got savings on hand for some of

885
00:39:58,480 --> 00:40:01,920
Speaker 2: those those ne some of those medium term savings goals.

886
00:40:02,560 --> 00:40:04,279
Speaker 2: And so because of that, there is no reason to

887
00:40:04,880 --> 00:40:07,840
Speaker 2: leave any of those dollars, let's say, in a money

888
00:40:07,840 --> 00:40:11,879
Speaker 2: market account or automatic sweep fund or something like that,

889
00:40:12,400 --> 00:40:14,480
Speaker 2: or to try and slowly, you know, get it into

890
00:40:14,520 --> 00:40:16,560
Speaker 2: the market. Instead, I would say to invest the whole

891
00:40:16,560 --> 00:40:20,879
Speaker 2: sum immediately. It makes me think about I was trying

892
00:40:20,920 --> 00:40:22,680
Speaker 2: to think of like an analogy, and I guess given

893
00:40:22,719 --> 00:40:25,319
Speaker 2: the fact that the other listener was talking about being

894
00:40:25,320 --> 00:40:27,600
Speaker 2: in the desert or the mirage or whatever with the

895
00:40:27,680 --> 00:40:31,040
Speaker 2: vesting it, it makes me think about water. It's sort of like, Okay,

896
00:40:31,239 --> 00:40:34,879
Speaker 2: the dollars that you've put into your wroth ira, that's

897
00:40:34,920 --> 00:40:38,359
Speaker 2: like filling your your nalgene bottle with water or you're

898
00:40:39,000 --> 00:40:41,400
Speaker 2: what's it owala? Those are the new bottles which have

899
00:40:41,480 --> 00:40:42,160
Speaker 2: killer colors.

900
00:40:42,200 --> 00:40:44,000
Speaker 1: By the way, I still go with my old old

901
00:40:44,000 --> 00:40:44,879
Speaker 1: school analogene.

902
00:40:45,600 --> 00:40:49,120
Speaker 2: So those are putting the water into your bottle, into

903
00:40:49,160 --> 00:40:51,239
Speaker 2: your water bottle, that's like putting your dollars into your

904
00:40:51,239 --> 00:40:53,600
Speaker 2: wroth ira. But then what do you do without water? Well,

905
00:40:53,640 --> 00:40:55,400
Speaker 2: you need to actually drink the water in order to

906
00:40:55,440 --> 00:40:58,840
Speaker 2: receive the hydration that the benefits of staying hydrated.

907
00:40:58,880 --> 00:41:00,759
Speaker 1: Otherwise you can still die of.

908
00:41:01,360 --> 00:41:05,359
Speaker 2: Heat, eggs exposure. Right, and so in a similar way,

909
00:41:05,360 --> 00:41:07,359
Speaker 2: if those dollars are just sitting there in your roth

910
00:41:07,400 --> 00:41:11,040
Speaker 2: ira and you haven't actually not ingest the water. But

911
00:41:11,040 --> 00:41:15,040
Speaker 2: we're talking about investing funds, here we go, it's working.

912
00:41:16,200 --> 00:41:18,200
Speaker 2: You actually have to deploy those dollars and put them

913
00:41:18,200 --> 00:41:21,000
Speaker 2: to use. Does that help to explain it to like

914
00:41:21,000 --> 00:41:22,800
Speaker 2: like a case think so just as.

915
00:41:22,640 --> 00:41:24,960
Speaker 1: A child here, and this is a position that many

916
00:41:24,960 --> 00:41:27,800
Speaker 1: anomous investor had found themselves in. They hear roth ira

917
00:41:28,120 --> 00:41:30,200
Speaker 1: and so, and they hear low cost, and they open

918
00:41:30,320 --> 00:41:32,319
Speaker 1: up the account and they stick the money in, but

919
00:41:32,400 --> 00:41:35,040
Speaker 1: they don't take the all important step of investing those dollars.

920
00:41:35,040 --> 00:41:37,680
Speaker 1: They come back years years, years later and they're like,

921
00:41:37,719 --> 00:41:40,239
Speaker 1: this should have grown. I've seen the market ripping. Right,

922
00:41:40,280 --> 00:41:40,919
Speaker 1: supposed to.

923
00:41:40,880 --> 00:41:43,120
Speaker 2: Be what happens when you put money in a.

924
00:41:43,160 --> 00:41:45,440
Speaker 1: Wroth ira and those are some of the saddest stories

925
00:41:45,440 --> 00:41:47,839
Speaker 1: to me is the people who did all the right

926
00:41:47,840 --> 00:41:50,279
Speaker 1: moves except for the one move, the last moved, the

927
00:41:50,360 --> 00:41:52,840
Speaker 1: last bit right. You actually drink the water. Yeah, you

928
00:41:52,880 --> 00:41:55,160
Speaker 1: actually invest those dollars. And that's because you want your

929
00:41:55,160 --> 00:41:57,480
Speaker 1: money working for you. If we look at history, the

930
00:41:57,560 --> 00:42:00,200
Speaker 1: sooner you get the money invested, the better. But then

931
00:42:00,239 --> 00:42:02,879
Speaker 1: you asked about how many funds or stocks should you pick?

932
00:42:02,920 --> 00:42:06,640
Speaker 1: And I guess my answer would be probably not many,

933
00:42:06,719 --> 00:42:09,480
Speaker 1: And that is a sign I think that question comes

934
00:42:09,520 --> 00:42:12,520
Speaker 1: from a place where Wall Street has over complicated things

935
00:42:12,560 --> 00:42:14,520
Speaker 1: for a whole lot of individuals. They made it seem

936
00:42:14,560 --> 00:42:16,759
Speaker 1: like you have to do more than you actually do

937
00:42:17,040 --> 00:42:20,040
Speaker 1: in order to be a successful investor. So much depends

938
00:42:20,040 --> 00:42:22,880
Speaker 1: on your age, Jessica, how long you plan to not

939
00:42:22,920 --> 00:42:26,200
Speaker 1: touch your investments. We love like total stock market and

940
00:42:26,239 --> 00:42:28,560
Speaker 1: s and P five hundred funds because they're pretty diversified

941
00:42:28,560 --> 00:42:32,160
Speaker 1: and they're really cheap. But both of those are for

942
00:42:32,200 --> 00:42:34,120
Speaker 1: folks in the wealth building phase of their lives. So

943
00:42:34,600 --> 00:42:36,640
Speaker 1: if you're in that phase where you have many, many,

944
00:42:36,680 --> 00:42:39,799
Speaker 1: many years to allow those investments to grow, they can

945
00:42:39,880 --> 00:42:42,680
Speaker 1: be a great one stop shop. And it's just a

946
00:42:42,680 --> 00:42:45,080
Speaker 1: super simple choice to make that purchase inside of your

947
00:42:45,160 --> 00:42:47,880
Speaker 1: roth ira. If you're getting closer to needing the money,

948
00:42:48,160 --> 00:42:50,200
Speaker 1: or you prefer to take a less stock heavy approach,

949
00:42:50,560 --> 00:42:53,040
Speaker 1: Target date funds can be a solid choice too. Those

950
00:42:53,040 --> 00:42:55,560
Speaker 1: are that's typically the realm that we stick to when

951
00:42:55,719 --> 00:42:59,000
Speaker 1: we're offering our thoughts at least on what you should

952
00:42:59,040 --> 00:43:01,960
Speaker 1: invest in. But so much if it comes down to

953
00:43:02,040 --> 00:43:06,640
Speaker 1: your goals, your risk tolerance, your timeline. But I just

954
00:43:06,680 --> 00:43:10,319
Speaker 1: think having like a slew of funds just over complicates things, yep,

955
00:43:10,440 --> 00:43:11,720
Speaker 1: or the average DIY investor.

956
00:43:11,800 --> 00:43:14,120
Speaker 2: Yeah, Oftentimes, I think the more complex that folks make it,

957
00:43:14,160 --> 00:43:17,000
Speaker 2: the more individuals tend to tune out, which is why

958
00:43:17,000 --> 00:43:19,480
Speaker 2: I want to try to keep this explanation to a minimum,

959
00:43:20,239 --> 00:43:23,200
Speaker 2: because that's when my kids start starts, start training out.

960
00:43:23,320 --> 00:43:23,480
Speaker 5: Yes.

961
00:43:23,560 --> 00:43:25,520
Speaker 2: Yeah, but the cool thing is that the simple choice

962
00:43:25,600 --> 00:43:28,359
Speaker 2: is often the most ideal one as well. But from

963
00:43:28,400 --> 00:43:31,560
Speaker 2: a frequency standpoint, you should probably be sticking money into

964
00:43:31,600 --> 00:43:36,160
Speaker 2: that roth ira on an annual or a monthly basis. Annually,

965
00:43:36,160 --> 00:43:38,799
Speaker 2: if you've got the full contribution on hand, if you've

966
00:43:38,840 --> 00:43:43,520
Speaker 2: got that full to the limits amount available on January, first, take.

967
00:43:43,400 --> 00:43:44,680
Speaker 1: It to the limit, as the Eagles said.

968
00:43:45,480 --> 00:43:48,600
Speaker 2: Otherwise, as you acquire those dollars and you have that

969
00:43:48,640 --> 00:43:51,200
Speaker 2: money on hand. Just setting up a recurring contribution every

970
00:43:51,239 --> 00:43:53,239
Speaker 2: single month, that is a great way to go. And

971
00:43:53,280 --> 00:43:57,479
Speaker 2: then yes, immediately invest those contributions every time you make them.

972
00:43:58,120 --> 00:44:00,600
Speaker 2: Maybe the water analogy can continue jol throughout the day.

973
00:44:01,040 --> 00:44:03,040
Speaker 2: It makes a whole whole lot of sense to sip

974
00:44:03,080 --> 00:44:06,439
Speaker 2: the water periodically. Although no, it kind of falls apart

975
00:44:06,440 --> 00:44:08,600
Speaker 2: there too, because in money, if you drink it all

976
00:44:08,600 --> 00:44:11,640
Speaker 2: at the very beginning, that would be the better way

977
00:44:11,640 --> 00:44:14,839
Speaker 2: of doing it, because history shows that markets do tend

978
00:44:14,840 --> 00:44:16,640
Speaker 2: to go up and said, the longer you are invested,

979
00:44:16,640 --> 00:44:19,319
Speaker 2: the better. So the analogy does fall apart. Actually, well

980
00:44:19,320 --> 00:44:20,600
Speaker 2: you could beause you can't just feel like your water

981
00:44:20,640 --> 00:44:22,319
Speaker 2: bottle at beginning of the day, chug the whole thing

982
00:44:22,640 --> 00:44:24,800
Speaker 2: and expect to be set to be hydrated for the

983
00:44:24,880 --> 00:44:26,280
Speaker 2: rest of That's not the optimal result.

984
00:44:26,440 --> 00:44:28,319
Speaker 1: That's a good point. Yeah, I mean the analogy was

985
00:44:28,320 --> 00:44:31,800
Speaker 1: bound to explode a point, but it did what it

986
00:44:31,840 --> 00:44:33,640
Speaker 1: was supposed to do. It did enough heavy lifting, and

987
00:44:33,640 --> 00:44:36,560
Speaker 1: hopefully that helps Jessica figure out how to use her

988
00:44:36,800 --> 00:44:39,000
Speaker 1: roth I rate effectively. Jessica, You're on the right You're

989
00:44:39,040 --> 00:44:39,640
Speaker 1: on the right path.

990
00:44:39,719 --> 00:44:40,000
Speaker 5: I work.

991
00:44:40,040 --> 00:44:41,880
Speaker 2: I'll work on it some more. It just needs something polishing.

992
00:44:41,880 --> 00:44:44,160
Speaker 2: You got this water analogy go back? I bet Chat

993
00:44:44,200 --> 00:44:50,000
Speaker 2: GPT can help you polish us up chat polishize.

994
00:44:50,880 --> 00:44:54,719
Speaker 1: I mean it's good. Yeah, I see her eyes. All right,

995
00:44:54,840 --> 00:44:57,799
Speaker 1: Let's get to another question. This one comes from anonymous

996
00:44:57,880 --> 00:44:59,880
Speaker 1: who says, is it is two to three years a

997
00:45:00,040 --> 00:45:02,840
Speaker 1: enough time to invest? I've around twenty five thousand dollars

998
00:45:02,880 --> 00:45:05,719
Speaker 1: in capital in a savings account, getting a three and

999
00:45:05,719 --> 00:45:08,080
Speaker 1: a half percent return, planning to use that money for

1000
00:45:08,120 --> 00:45:10,560
Speaker 1: a down payment for a rental property in about two

1001
00:45:10,640 --> 00:45:13,279
Speaker 1: to three years. Should I invest it or leave it

1002
00:45:13,320 --> 00:45:14,360
Speaker 1: in the savings account?

1003
00:45:14,480 --> 00:45:15,000
Speaker 2: What do you think?

1004
00:45:16,480 --> 00:45:17,319
Speaker 1: These are the tough ones?

1005
00:45:17,360 --> 00:45:18,600
Speaker 2: What are you gonna what are you gonna recommend?

1006
00:45:18,719 --> 00:45:21,319
Speaker 1: I mean, the reason this is tough is because it's

1007
00:45:21,400 --> 00:45:25,960
Speaker 1: medium term. And if we're talking about Hey, if this

1008
00:45:26,120 --> 00:45:28,440
Speaker 1: poster had said I have one year, what do I do?

1009
00:45:28,760 --> 00:45:31,279
Speaker 1: I feel like the answers pretty obvious. Savings accounts make

1010
00:45:31,320 --> 00:45:31,839
Speaker 1: the most sense.

1011
00:45:31,880 --> 00:45:32,399
Speaker 2: Slam dunk.

1012
00:45:32,400 --> 00:45:35,600
Speaker 1: If they said I have five plus years, then I

1013
00:45:35,600 --> 00:45:37,239
Speaker 1: think the answer is pretty obvious, and I think it's

1014
00:45:37,360 --> 00:45:39,839
Speaker 1: also dollars also, slam dunk. Two to three years. Man,

1015
00:45:39,880 --> 00:45:42,400
Speaker 1: this is where it gets tricky and it's like, I

1016
00:45:42,400 --> 00:45:43,719
Speaker 1: don't know. I think this is where you have to

1017
00:45:44,360 --> 00:45:48,319
Speaker 1: again like understand your own risk tolerance, because if the

1018
00:45:48,320 --> 00:45:52,200
Speaker 1: market is down, are you willing to wait longer for

1019
00:45:52,280 --> 00:45:56,880
Speaker 1: a recovery? And because if you've lost them in that capital,

1020
00:45:56,920 --> 00:45:58,560
Speaker 1: it's going to be hard to stomach pulling that out

1021
00:45:58,600 --> 00:46:00,839
Speaker 1: in order to do that real estate deal. Well, if

1022
00:46:00,880 --> 00:46:06,600
Speaker 1: that would be a huge, a huge, insurmountable problem for you.

1023
00:46:06,680 --> 00:46:08,680
Speaker 2: If you could live with that kind of setback.

1024
00:46:08,320 --> 00:46:10,240
Speaker 1: Then I don't think you can be investing the money.

1025
00:46:10,400 --> 00:46:12,400
Speaker 1: So it's helpful I think to also look at history.

1026
00:46:12,440 --> 00:46:15,600
Speaker 2: So over a random three year period, when you look

1027
00:46:15,640 --> 00:46:17,560
Speaker 2: back at the history of the stock market, you have

1028
00:46:17,680 --> 00:46:20,879
Speaker 2: a roughly nine to ten chance of the market outperforming

1029
00:46:21,000 --> 00:46:24,480
Speaker 2: your savings. Over a two year timeline we're talking about,

1030
00:46:25,080 --> 00:46:28,279
Speaker 2: that drops down to seventy five percent chance to outperform.

1031
00:46:28,600 --> 00:46:30,880
Speaker 2: So these are the kind of factors you need to

1032
00:46:30,920 --> 00:46:33,320
Speaker 2: take into account, because, man, it would be nice to

1033
00:46:33,360 --> 00:46:35,000
Speaker 2: grow that capital so that you have a bigger down

1034
00:46:35,080 --> 00:46:39,880
Speaker 2: payment available for that investment property purchase, but it's not guaranteed.

1035
00:46:40,680 --> 00:46:43,600
Speaker 2: And the fact here too that it's for an investment property.

1036
00:46:43,920 --> 00:46:46,640
Speaker 2: I think my opinion as to what the answer is here.

1037
00:46:46,719 --> 00:46:49,640
Speaker 2: Hinges on that because if it was for a personal residence,

1038
00:46:49,680 --> 00:46:52,560
Speaker 2: I would say, don't take the risk, just save up,

1039
00:46:52,560 --> 00:46:56,000
Speaker 2: put it, put it in savings, get the guaranteed interest

1040
00:46:56,040 --> 00:46:58,560
Speaker 2: rate from your bank. But what's the whole point of

1041
00:46:58,560 --> 00:47:01,239
Speaker 2: getting an investment property to grow your net worth? And

1042
00:47:01,560 --> 00:47:04,920
Speaker 2: what is investing in the overall s talking market?

1043
00:47:04,920 --> 00:47:05,920
Speaker 1: It's just to grow.

1044
00:47:05,800 --> 00:47:07,239
Speaker 2: Your net worth. And so on one hand you kind

1045
00:47:07,239 --> 00:47:10,319
Speaker 2: of have like a life goal lifestyles, it raises more

1046
00:47:10,320 --> 00:47:11,759
Speaker 2: of those kind of questions, And on the other hand,

1047
00:47:11,760 --> 00:47:13,560
Speaker 2: it's just I want to grow my money. I want

1048
00:47:13,560 --> 00:47:15,080
Speaker 2: to be able to grow my wealth so that I

1049
00:47:15,080 --> 00:47:17,160
Speaker 2: have more options off in the future. I think that's

1050
00:47:17,160 --> 00:47:19,640
Speaker 2: a good point. And with that in mind, it's just like, Okay,

1051
00:47:19,800 --> 00:47:21,719
Speaker 2: we'll stick that money in the market in two or

1052
00:47:21,719 --> 00:47:23,400
Speaker 2: three years, let's see how your money's doing. If it

1053
00:47:23,440 --> 00:47:26,160
Speaker 2: does really well, great, you've got more money on hand

1054
00:47:26,200 --> 00:47:28,560
Speaker 2: to then either put towards real estate and you got

1055
00:47:28,600 --> 00:47:30,920
Speaker 2: more money. Or you can say, man, it was really

1056
00:47:31,000 --> 00:47:32,880
Speaker 2: nice to be able to not have to do anything,

1057
00:47:33,400 --> 00:47:33,840
Speaker 2: to sit.

1058
00:47:33,760 --> 00:47:35,279
Speaker 1: On my hands and watch my money. Girl, I watch

1059
00:47:35,320 --> 00:47:37,560
Speaker 1: it girl automatically. Oh man, it's a Saturday.

1060
00:47:37,880 --> 00:47:39,399
Speaker 2: You know what I don't have to do right now

1061
00:47:39,600 --> 00:47:41,759
Speaker 2: is a go show that empty property to a bunch

1062
00:47:41,800 --> 00:47:43,800
Speaker 2: of folks who are going to be interested in getting

1063
00:47:43,800 --> 00:47:45,840
Speaker 2: for So it kind of it comes down to what

1064
00:47:45,880 --> 00:47:46,879
Speaker 2: you're looking for in life.

1065
00:47:46,920 --> 00:47:50,000
Speaker 1: If your goal, let's say, though, is to maybe.

1066
00:47:50,040 --> 00:47:53,040
Speaker 2: Outperform the overall market, and you're looking let's say you're

1067
00:47:53,040 --> 00:47:56,560
Speaker 2: looking for income diversification, Okay, well it sounds like the

1068
00:47:56,560 --> 00:47:59,520
Speaker 2: investment property might be more more of a priority. So again,

1069
00:47:59,520 --> 00:48:01,120
Speaker 2: it kind of comes down to what your priorities are,

1070
00:48:01,200 --> 00:48:03,520
Speaker 2: what you're looking for your life to look like off

1071
00:48:03,520 --> 00:48:04,040
Speaker 2: in the future.

1072
00:48:04,080 --> 00:48:07,399
Speaker 1: I think last thing worth mentioning is sometimes we talk

1073
00:48:07,440 --> 00:48:10,080
Speaker 1: about these money choices as if it's all or none

1074
00:48:10,440 --> 00:48:13,680
Speaker 1: save or invest, and the truth is you can split

1075
00:48:13,719 --> 00:48:16,160
Speaker 1: the baby here. You can do some of both, and

1076
00:48:16,160 --> 00:48:17,840
Speaker 1: you can say I'm gonna leave half of it in

1077
00:48:17,920 --> 00:48:20,440
Speaker 1: a savings account, I'm going to put the other half

1078
00:48:20,560 --> 00:48:23,239
Speaker 1: in full one hundred percent stocks, or you can even

1079
00:48:23,239 --> 00:48:25,920
Speaker 1: say I'm gonna put it in a more risk averse

1080
00:48:26,680 --> 00:48:29,880
Speaker 1: investment choice. Array of choices, so it doesn't just have

1081
00:48:29,960 --> 00:48:33,360
Speaker 1: to be all in on savings or all in on investing.

1082
00:48:33,400 --> 00:48:35,200
Speaker 1: You can do a little bit of both, and yeah,

1083
00:48:35,239 --> 00:48:38,759
Speaker 1: you're you're like protecting yourself from a downside risk, you're

1084
00:48:38,760 --> 00:48:42,960
Speaker 1: also limiting your potential upside. But if this buying this

1085
00:48:43,080 --> 00:48:45,319
Speaker 1: rental property in let's say three years time at the

1086
00:48:45,360 --> 00:48:49,680
Speaker 1: max is super important to you and losing much capital

1087
00:48:49,800 --> 00:48:53,080
Speaker 1: or any at all would be a huge downer, then

1088
00:48:53,400 --> 00:48:56,160
Speaker 1: I think maybe splitting the difference here and going have

1089
00:48:56,360 --> 00:48:58,680
Speaker 1: these could make some sense too. Yeah, I like it

1090
00:48:58,680 --> 00:49:00,640
Speaker 1: all right, Let's get back to the beer math that

1091
00:49:00,640 --> 00:49:04,680
Speaker 1: we had on this episode. This was from Living Waters

1092
00:49:04,840 --> 00:49:07,640
Speaker 1: Brewing Company. It was a twin sour. It was a

1093
00:49:07,680 --> 00:49:11,040
Speaker 1: sour eale brewed with cranberry, marshmallow and vanilla. Bro What

1094
00:49:11,120 --> 00:49:12,799
Speaker 1: did you think? I liked it? Man?

1095
00:49:13,120 --> 00:49:17,000
Speaker 2: Were you picking up much vanilla because of the cranberry right?

1096
00:49:17,080 --> 00:49:17,160
Speaker 4: Like?

1097
00:49:17,160 --> 00:49:18,600
Speaker 2: You got the cranberry tartness going on?

1098
00:49:18,680 --> 00:49:18,880
Speaker 1: I can.

1099
00:49:18,960 --> 00:49:22,480
Speaker 2: I definitely feel that, and even the kind of like

1100
00:49:22,520 --> 00:49:25,680
Speaker 2: the marshmallow smoothness and kind of like add some of

1101
00:49:25,680 --> 00:49:27,920
Speaker 2: that depth to it. But vanilla made me almost think

1102
00:49:27,960 --> 00:49:30,160
Speaker 2: that there's going to be some sort of I don't know,

1103
00:49:30,160 --> 00:49:30,800
Speaker 2: it's gonna.

1104
00:49:30,560 --> 00:49:31,800
Speaker 1: Be more of like a treat.

1105
00:49:32,040 --> 00:49:34,360
Speaker 2: I don't know, creamer. I just wanted to almost expected

1106
00:49:34,360 --> 00:49:35,080
Speaker 2: it to be creamier.

1107
00:49:35,200 --> 00:49:37,000
Speaker 1: Yeah, I feel like I picked up a little bit

1108
00:49:37,000 --> 00:49:40,719
Speaker 1: of that vanilla in the flavor profile, and I gotta say,

1109
00:49:40,880 --> 00:49:44,799
Speaker 1: like I the cranberries were more muted than I thought

1110
00:49:44,800 --> 00:49:46,800
Speaker 1: they were gonna be, but in the perfect way. Yeah,

1111
00:49:46,800 --> 00:49:49,560
Speaker 1: and I love this one. Yeah, I really liked too.

1112
00:49:49,600 --> 00:49:52,520
Speaker 1: I thought it was incredibly smooth, and it's one of

1113
00:49:52,560 --> 00:49:55,239
Speaker 1: those where typically I thought it wasn't as sweet as

1114
00:49:55,239 --> 00:49:56,440
Speaker 1: I thought it was going to be, which I was

1115
00:49:56,440 --> 00:49:59,280
Speaker 1: a little worried about with like vanilla and marshmallows, and yeah,

1116
00:49:59,360 --> 00:50:01,200
Speaker 1: soon this is this thing going to be. Maybe that's why.

1117
00:50:01,280 --> 00:50:03,440
Speaker 2: Yeah, I didn't notice the vinila as much, but maybe

1118
00:50:03,520 --> 00:50:04,560
Speaker 2: I see that as like a good thing.

1119
00:50:04,760 --> 00:50:06,960
Speaker 1: Yeah. Yeah, So I like this one more than I

1120
00:50:06,960 --> 00:50:09,959
Speaker 1: thought it would because cranberries also aren't my favorite fruit

1121
00:50:10,000 --> 00:50:12,480
Speaker 1: and a beer, but it still startness to it. Yeah,

1122
00:50:12,480 --> 00:50:12,879
Speaker 1: they rocked.

1123
00:50:12,920 --> 00:50:15,560
Speaker 2: It gots me got me thinking about Thanksgiving coming up.

1124
00:50:15,560 --> 00:50:18,240
Speaker 2: A little bit of cranberry sauce. You know, this reminds

1125
00:50:18,280 --> 00:50:20,479
Speaker 2: me a good bit of Athena, which is a beer

1126
00:50:20,480 --> 00:50:23,279
Speaker 2: by Creature Comforts, one of a favorite local beer. But

1127
00:50:23,320 --> 00:50:26,000
Speaker 2: it's kind of got that kettle sour vibe going on

1128
00:50:26,400 --> 00:50:30,040
Speaker 2: as compared to like a more funky barrel age sour

1129
00:50:30,040 --> 00:50:33,920
Speaker 2: where there's some of those more tawar natural yeasts and

1130
00:50:34,000 --> 00:50:36,960
Speaker 2: other things that make it funky, whereas this it's got

1131
00:50:37,000 --> 00:50:39,080
Speaker 2: tartness from the cranberry, but it doesn't have that funky

1132
00:50:39,680 --> 00:50:41,200
Speaker 2: ooh what's going on here? It doesn't have like that

1133
00:50:41,280 --> 00:50:44,839
Speaker 2: sharpness that sometimes you equate with cheese, right, right, because

1134
00:50:44,840 --> 00:50:47,040
Speaker 2: some sometimes with cheese there's typically giness going on.

1135
00:50:47,080 --> 00:50:49,680
Speaker 1: The barrel aged sours are more interesting, but this one

1136
00:50:49,800 --> 00:50:52,480
Speaker 1: still had a lot of a lot of flavor, interesting

1137
00:50:52,520 --> 00:50:55,359
Speaker 1: notes in a beer that was easier to make right

1138
00:50:55,400 --> 00:50:56,680
Speaker 1: than some of those barrel aged ones.

1139
00:50:56,760 --> 00:50:58,640
Speaker 2: So, yeah, I've.

1140
00:50:58,200 --> 00:51:01,160
Speaker 1: Never had a beer by this brutally Nashville.

1141
00:51:01,200 --> 00:51:02,560
Speaker 2: Yeah, I don't think I have either, all Right, we'll

1142
00:51:02,600 --> 00:51:04,359
Speaker 2: have to try more other stuff. Yeah, keep an eye

1143
00:51:04,360 --> 00:51:07,480
Speaker 2: out for them. Also, it's always a plus when the

1144
00:51:07,480 --> 00:51:09,880
Speaker 2: color of the beer is the same color as the label.

1145
00:51:10,160 --> 00:51:11,640
Speaker 1: I really like that because.

1146
00:51:11,400 --> 00:51:13,799
Speaker 2: It gives you, it prepares you mentally for what's coming up.

1147
00:51:14,280 --> 00:51:16,040
Speaker 2: What you don't want to see is label a.

1148
00:51:16,000 --> 00:51:17,000
Speaker 1: Soft pink que right.

1149
00:51:17,120 --> 00:51:17,359
Speaker 5: Yeah.

1150
00:51:17,440 --> 00:51:17,800
Speaker 1: Yeah.

1151
00:51:17,960 --> 00:51:19,400
Speaker 2: What you don't want to see is like a label

1152
00:51:19,400 --> 00:51:20,799
Speaker 2: that looks one color and then for you to pour

1153
00:51:20,800 --> 00:51:22,160
Speaker 2: a beer and it's like the complete opposite.

1154
00:51:22,320 --> 00:51:25,240
Speaker 1: Yeah, that's like a black label for an IPA that's startling,

1155
00:51:25,440 --> 00:51:27,160
Speaker 1: or a yellow label for us out, Like, come on,

1156
00:51:27,200 --> 00:51:27,680
Speaker 1: don't do that.

1157
00:51:27,640 --> 00:51:28,000
Speaker 2: Yeah, don't.

1158
00:51:28,040 --> 00:51:29,759
Speaker 1: I don't want to pour no green beers. You know

1159
00:51:30,680 --> 00:51:33,480
Speaker 1: that's not too green a green beer ever. All right,

1160
00:51:33,560 --> 00:51:35,279
Speaker 1: that's gonna do it for this episode. If you have

1161
00:51:35,360 --> 00:51:37,600
Speaker 1: a money question, we would love to hear from you.

1162
00:51:37,680 --> 00:51:40,200
Speaker 1: Just record it, send it over our way. Hopefully we

1163
00:51:40,239 --> 00:51:41,840
Speaker 1: can take it next week on the show. You know what,

1164
00:51:41,880 --> 00:51:43,480
Speaker 1: We'll put links to some of the stuff we mentioned

1165
00:51:43,560 --> 00:51:45,120
Speaker 1: up in the show notes as well, and there's all

1166
00:51:45,160 --> 00:51:47,600
Speaker 1: all good stuff on our website. So go play around,

1167
00:51:47,640 --> 00:51:48,880
Speaker 1: mess around, have fun. Totally.

1168
00:51:49,400 --> 00:51:51,719
Speaker 2: I'm just full of affirmations. All right.

1169
00:51:52,040 --> 00:52:06,560
Speaker 1: Until next time, best Friends Out, Best Friends Out.