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

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Speaker 1: Today we're discussing retirement account rule changes in stimulus check details.

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Speaker 1: Chedel it's write some things have changed when it comes

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Speaker 1: to taking money out of our four owing case when

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Speaker 1: it comes to tapping those retirement accounts. We'll get to

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Speaker 1: that's We're gonna answer some coronavirus related questions, and we're

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Speaker 1: gonna get to some of the details regarding the stimulus checks,

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Speaker 1: which should be coming out really soon, man, like next week.

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Speaker 1: I think that's the hope, right that, Yeah, that is

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Speaker 1: the hope because so many of the things in this

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Speaker 1: Care's Act have been delayed to people when it comes

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Speaker 1: to unemployment benefits, when it comes to the p p

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Speaker 1: P and small businesses being able to get funding to

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Speaker 1: sustain to sustain themselves and to sustain that payroll. Right now,

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Speaker 1: those things have in time and um and yes, so

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Speaker 1: I'm hoping the stimulus checks are delivered as promised, whereas

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Speaker 1: some of those other things just haven't been I was right, man.

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Speaker 1: So it's week four the quarantine. How are you guys doing,

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Speaker 1: By the way, I wanted to check in, We're doing

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Speaker 1: pretty good. Yeah, I think our families holding up reasonably

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Speaker 1: well overall. How about you guys. Yeah, same here, man,

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Speaker 1: We're doing pretty good. Obviously, we're spending way more time

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Speaker 1: at home, way more time kind of out in our

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Speaker 1: front yard, working in the garden, that kind of stuff,

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Speaker 1: waving at people from a distance. Yeah. Well, on that note, man,

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Speaker 1: I installed a ceiling fan actually on our front porch

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Speaker 1: because Kate and I kind of looked ahead and into

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Speaker 1: the next few months and we realized we're going to

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Speaker 1: spend a lot of time on this front porch, probably

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Speaker 1: many as will make it super comfortable. Keep the bugs

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Speaker 1: away with that exactly. Yes, So we got one of

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Speaker 1: those ones with like all the fan blades. They can

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Speaker 1: kind of really whip up some mare. But actually, while

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Speaker 1: I was out there the other day putting that up,

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Speaker 1: some friends of us walked by, and so we were

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Speaker 1: kind of out there having one of those six ft

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Speaker 1: front yard conversations, and I was looking at our friend David,

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Speaker 1: and I didn't realize that he had gray hair. Since

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Speaker 1: he hasn't been getting his haircut regularly, it was getting

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Speaker 1: a little bit bushy around the ears, and so you

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Speaker 1: started to rag him about it. Of course, with that

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Speaker 1: gray hair comes lots of wisdom. I'm all about gray hair.

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Speaker 1: By the way, I would much rather have any hair

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Speaker 1: at all and how to be gray or white than

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Speaker 1: have no hair. You know, what about you? Yeah, you know,

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Speaker 1: I think I prefer grays well like Evans, some hair,

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Speaker 1: even if it is gray. But you know, with a

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Speaker 1: lot of us working from home, I think now is

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Speaker 1: is like the perfect time to figure out how to

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Speaker 1: maybe cut your own hair. This is something you and

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Speaker 1: I've talked about before. A lot of people have that

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Speaker 1: question now and they're starting to get a little shaggy

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Speaker 1: and there because I gotta, I gotta, I gotta be

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Speaker 1: honest with you. In a couple of weeks, I'm gonna

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Speaker 1: get too close to a wearing a ball cap every day.

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Speaker 1: But I don't get my hair cut. That's kind of

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Speaker 1: why I've been wearing I had recently since weddings have

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Speaker 1: slowed down. I don't really have a need to cut

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Speaker 1: my hair, except that, you know, I don't know when

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Speaker 1: I hang out with other people, a kind of feeling

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Speaker 1: the need to tame it down a little bit. But

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Speaker 1: but seriously, with a lot of folks not going to

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Speaker 1: get their hair cut, I think folks should look to Amazon,

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Speaker 1: maybe getting up here of hair clippers investing a little

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Speaker 1: bit of money into something like that. There are lots

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Speaker 1: of different tutorials as well online like YouTube is definitely

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Speaker 1: gonna be your friend if you've never cut your hair before.

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Speaker 1: Are But I think that, like I was saying, though,

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Speaker 1: this is a perfect time to experiment a little bit.

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Speaker 1: And you know what, if you bought it a little bit,

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Speaker 1: no big deal, Like it'll grow out in two three

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Speaker 1: weeks and nobody's gonna see you. You can try again,

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Speaker 1: or even this might even be a great time to

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Speaker 1: try out buzzing your hair. I don't know if you've

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Speaker 1: ever Did you ever buzz your hair? Like while you're

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Speaker 1: in high school? No? Middle school? It was bad. Why

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Speaker 1: did every guy in middle school decided to buzz their hair?

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Speaker 1: I did that in middle school as well. Can I

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Speaker 1: admit this too? I wore a headgear in middle school? Uh,

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Speaker 1: really cool. I was really really cool, obviously, And then

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Speaker 1: we're making indentions in my head and so you could

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Speaker 1: see the lines where the headgear had been at night,

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Speaker 1: where it sit there all night long. I should not

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Speaker 1: have just admitted that, but I did. Oh you're such

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Speaker 1: a nerd. Oh man, I would have left to know

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Speaker 1: middle school Joel that middle school Joel in middle school,

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Speaker 1: mat would have totally gotten along, or we would have

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Speaker 1: been just so embarrassed of each other that would have

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Speaker 1: just like gone to our separate rooms like at our

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Speaker 1: parents house exactly. Anyway, I wanted to mention that because

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Speaker 1: I think a lot of people don't consider cutting their

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Speaker 1: own hair, and I think that's something that you and

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Speaker 1: I were definitely not afraid to do that ourselves, but

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Speaker 1: a lot of people are. Yeah, I'm definitely not afraid

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Speaker 1: to look in like an We take a lot of

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Speaker 1: stuff seriously, but you know, luckily we don't take ourselves

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Speaker 1: all that seriously. Also, I'll put a little YouTube video

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Speaker 1: that I came across that I think might help some

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Speaker 1: folks out there who have never done this before. It

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Speaker 1: might give you a little bit of confidence. Nice, all right,

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Speaker 1: that sounds perfect. All right, Matt, let's get onto the

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Speaker 1: subjective hand. We're talking about the retirement account rule changes

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Speaker 1: in stimulus check details. But first let's talk about some

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Speaker 1: of the good news. It's happening this time, the good news,

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Speaker 1: the good news. We're trying to hit that first thing

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Speaker 1: on these Friday episodes and kind of tout some of

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Speaker 1: the good things that are happening in our communities around

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Speaker 1: our nation during a time where there's just a lot

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Speaker 1: of difficulty going on. So, yeah, the first thing we

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Speaker 1: want to mention is that BP is offering fifty cents

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Speaker 1: a gallon discounts to first responders, nurses, doctors, and hospital

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Speaker 1: workers on their next trip to the gas station. So

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Speaker 1: if that's you, you'll have until the end of April

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Speaker 1: to get your discount code. For more info, go to

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Speaker 1: BP dot com slash Local Heroes. You're gonna have to

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Speaker 1: identify yourself through that through a website the VP has

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Speaker 1: set up. But then you can get fifty cents off

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Speaker 1: a gallon of gas. That's pretty sweet, yea, And with

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Speaker 1: gas prices as low as they already are, this might

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Speaker 1: be able to take you back to those middle school days. Seriously,

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Speaker 1: I think in some states it might get you under

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Speaker 1: a dollar per gallon, depending on where you live, So

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Speaker 1: there's not applying in California, yeah, seriously, but that's definitely

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Speaker 1: something worth checking out. And all the note of car expenses.

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Speaker 1: On this past Wednesday's episode, we talked about going to

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Speaker 1: your insurer seeing if you can get a discount when

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Speaker 1: it comes to your auto insurance. Well, some auto insurers

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Speaker 1: are offering rebates proactively. American Family Insurance, they are returning

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Speaker 1: about fifty dollars per insured vehicle as they estimate that

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Speaker 1: policy holders drove about fewer miles during the last three

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Speaker 1: weeks in March, and all state they say that they'll

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Speaker 1: be sending out around six hundred million dollars in shelter

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Speaker 1: in place payback checks and so claims are oftentimes correlated

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Speaker 1: directly with the number of miles driven. So obviously when

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Speaker 1: less people are driving, there are going to be fewer

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Speaker 1: fender benders, which you know, obviously saves us money in

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Speaker 1: the short term. It saves the insurer money because they're

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Speaker 1: not having to meet those claims. But in this case,

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Speaker 1: it's also saving us even more money because we're you know,

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Speaker 1: we're getting some of that money back ourselves, you know,

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Speaker 1: we're kind of sharing in the profit. So I think

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Speaker 1: that's really cool that some of these bigger insurers are

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Speaker 1: doing that. Yeah, I sent an email earlier this week

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Speaker 1: to my insurance company to see if they were doing

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Speaker 1: the same, and at first the reply for my agent

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Speaker 1: was kind of like, uh, no, not yet at least,

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Speaker 1: but thanks for checking. And then the very next day,

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Speaker 1: my agent sent me a link to the presser from

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Speaker 1: from Liberty Mutual that's who I'm with, and she said,

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Speaker 1: you know what, we're rebating people, you know fifteen I

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Speaker 1: think of their March and April bills. So that's good

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Speaker 1: to see. I love seeing that more insurers are following suit.

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Speaker 1: On another good note, Matt, we've been talking about all

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Speaker 1: the good news, all the good news we know, of

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Speaker 1: course due to the Cares Act, and we've talked about

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Speaker 1: this that if you have federal student loans, well you

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Speaker 1: don't have to pay your monthly pay it for six months.

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Speaker 1: But we didn't have great news to share for people

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Speaker 1: who have a private student loan, and so we wanted

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Speaker 1: to let you know that that seems to be changing.

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Speaker 1: A lot of the private student lenders are also offering

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Speaker 1: at least a ninety day UH forbearance time limit for you.

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Speaker 1: So if you do have a private student loan and

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Speaker 1: you do find yourself unable to pay right now, well

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Speaker 1: there's a good chance to your private student lender is

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Speaker 1: willing to work something out. You're not going to get

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Speaker 1: the interest holiday that federal student loans have in all likelihood,

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Speaker 1: but at least you want to pay your bill for

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Speaker 1: ninety days and you won't go into delinquency. So yeah,

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Speaker 1: we would encourage you to go to your private lenders

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Speaker 1: and website and see what briefing they have available. If

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Speaker 1: they don't have anything listed up there, they give him

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Speaker 1: a call and see what they can offer you. Nice man.

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Speaker 1: You know. One of the other changes we've seen since

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Speaker 1: our last Friday episode is that the CDC has announced

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Speaker 1: that they recommend that we all wear face coverings when

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Speaker 1: we go out in public, especially when we go to

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Speaker 1: places like grocery stores, pharmacies, things like that. And so

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Speaker 1: we're starting to see local small businesses making like good

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Speaker 1: looking face masks, and not surprisingly we've seen Etsy. They've

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Speaker 1: become a hub for small businesses to sell the different masks.

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Speaker 1: I have a feeling that these, you know, these masks

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Speaker 1: will look more and more like accessories for us, not

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Speaker 1: necessarily a health precaution, as they even become more and

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Speaker 1: more a part of our life, you know, in our

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Speaker 1: day to day. So, oh, you've got that dope new

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Speaker 1: Tommy Hill Figer mask. I don't know if Tommy Hill

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Speaker 1: fagre stoke cool or not. Probably not. Again, you're you're

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Speaker 1: really throwing it back to the middle school days. So

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Speaker 1: we would recommend that you follow the CDC's guidelines, take

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Speaker 1: those health precautions, wear a mask, and at the same time,

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Speaker 1: you can support a local business. So there's a local

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Speaker 1: bike shot that we have here in town, Spindle and

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Speaker 1: they normally, you know, they sell bike parts and accessories

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Speaker 1: and stuff, but they also make their own bike bags

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Speaker 1: that kind of attached to the frame of your bike.

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Speaker 1: Maybe if you're listening, you've seen these before, but they

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Speaker 1: have transitioned to making these masks themselves, uh and selling

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Speaker 1: those along with what they normally sell. Some other friends

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Speaker 1: of ours as well, Three Toes Thread Works, they're actually

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Speaker 1: up in Grand Rappings. They're friends of the show and

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Speaker 1: they're doing something similar. I think it's cool that we're

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Speaker 1: starting to see these smaller businesses switch things up a

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Speaker 1: little bit and catered to some of the health needs

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Speaker 1: that have come up. Yeah, totally, Pivoting is huge for

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Speaker 1: small businesses right now because of slowdown in business has

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Speaker 1: kind of hit almost everybody across the board. Almost every

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Speaker 1: business has seen at least a slow down, and so

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Speaker 1: pivoting is crucial in a time like this. Man, I

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Speaker 1: saw this article just the other day in CNBC. They

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Speaker 1: talked about a swag company and obviously swag in this

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Speaker 1: economy just way less of a need and there's no

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Speaker 1: conferences going on. There's no pins to give out a

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Speaker 1: conference slag. Okay, like like the pins and stuff, Yeah exactly. Yeah, Like,

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Speaker 1: how do you sell swag? If you make out the swagger,

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Speaker 1: you can't buy it. You sell swag in a bottle,

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Speaker 1: like you just like you take that and apply it

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Speaker 1: to your neck and on your wrists and something like that.

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Speaker 1: It's like a potion you take something like that. Yeah,

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Speaker 1: but no, but this company has completely changed gears and

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Speaker 1: they started using their existing contacts and resources, and they

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Speaker 1: launched a website selling medical necessities. And they could have

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Speaker 1: kind of stayed put and said, woe is me, and

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Speaker 1: you know what, our swag business is going to go

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Speaker 1: under or we're at least going to have just a

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Speaker 1: really hard time at a minimum for the next three

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Speaker 1: to six months. But no, they said, we're gonna proactively

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Speaker 1: make a decision to do something different. And I know

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Speaker 1: not every business can do that, but there's a lesson

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Speaker 1: to be learned. In that and the more we can

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Speaker 1: pivot in this time as individuals and as businesses, it's

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Speaker 1: gonna help us out. And it was really cool to

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Speaker 1: see that conference swag company doing something proactively to actually

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Speaker 1: kind of pivot and create a new business for themselves. Yeah,

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Speaker 1: resilient businesses look for opportunities. Right, Let's go ahead now

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Speaker 1: and kind of dive into retirement accounts that we mentioned

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Speaker 1: this at the top of the episode, but the details

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Speaker 1: and some of the rules surrounding retirement accounts has changed

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Speaker 1: due to the CARES Act. We mentioned this briefly a

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Speaker 1: couple of weeks ago in response to a listener question

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Speaker 1: who was interested in tapping a four own K to

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Speaker 1: use that money for other investments. But the CARES Act

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Speaker 1: has a provision that allows people to tap their traditional

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Speaker 1: I ras or their four O one case early and

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Speaker 1: you can make a withdrawal of up to one hundred

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Speaker 1: thousand dollars and avoid the normal ten percent penalty. However,

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Speaker 1: you'll still pay tax on the amount that you've taken

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Speaker 1: out though, but of course that's going to be at

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Speaker 1: your ordinary income tax rate. However, you can choose to

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Speaker 1: pay that tax over the next three years instead of

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Speaker 1: being forced to pay that all in one single year

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Speaker 1: as you typically would. Yeah, so that's an interesting provision

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Speaker 1: mat As people have heard more and more about it,

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Speaker 1: there's more and more questions. But I think the ultimate

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Speaker 1: question is should you do it, And we would say

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Speaker 1: the answer is in almost every situation no, mostly due

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Speaker 1: to the fact that you'll be locking in your losses.

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Speaker 1: Right the market is down currently about from its peak

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Speaker 1: right now. Depending on your asset allocation, whether you're heavily

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Speaker 1: invested in stocks or whether you have a more balanced portfolio,

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Speaker 1: you'll be taking that money out while the economy is

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Speaker 1: in recession territory, and those shares that you sell well,

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Speaker 1: they will never be able to experience that inevitable recovery

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Speaker 1: inside of that retirement account. So we would say the

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Speaker 1: only reason to take that early withdrawal is if you

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Speaker 1: need that money to put food on the table or

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Speaker 1: to keep the lights on, or if you need even

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Speaker 1: more than the current loan amounts that you have available

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Speaker 1: to you through the paycheck protection plan to be able

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Speaker 1: to keep your small business afloat. If it means folding

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Speaker 1: altogether or tapping your retirement account, I mean, I think

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Speaker 1: then it might make sense to tap your retirement account

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Speaker 1: to to keep your business going. But for the most part,

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Speaker 1: this is not something to be done flippantly, to start

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Speaker 1: tapping your retirement accounts, pulling money out while the market's

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Speaker 1: down just because you can and you're not gonna have

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Speaker 1: to pay the penalty. Yeah, it's so important for us

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Speaker 1: to not lock in those losses. And on a related note,

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Speaker 1: let's talk about required minimum distributions. Individuals of retirement age

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Speaker 1: are not required this year to take the minimum required distribution.

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Speaker 1: By not requiring these distributions, retirees are not forced to

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Speaker 1: sell investments that have declined significantly. Again, if they did,

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Speaker 1: they'd be locking in those losses. So I think you know,

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Speaker 1: luckily most of our listeners are under the age of

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Speaker 1: seventy two and are hopefully in a position to continue

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Speaker 1: investing while the market is on sale. But if you

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Speaker 1: do happen to be an older listener, or maybe you're

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Speaker 1: talking to a parent who doesn't need that retirement money

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Speaker 1: this year, tell them to forego the required minimum distributions

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Speaker 1: this year so that they don't take those losses. Especially

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Speaker 1: for new retirees. Matt, a big down swing in the

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Speaker 1: amount of money you have overall invested. Starting to pull

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Speaker 1: that money out has long term effects over your withdraw

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Speaker 1: strategy in retirement. And so yeah, if you can leave

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Speaker 1: that money in not have to pull it out, that's

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Speaker 1: the best case scenario for you. So yeah, I would

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Speaker 1: say to anybody who can afford to not take their

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Speaker 1: rm D, you're not forced to, so leave it in.

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Speaker 1: And Matt on one of the note before we get

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Speaker 1: to some listener questions, We've been sent a few emails

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Speaker 1: and I've seen some people having questions about F S

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Speaker 1: A S and h S A S and they're wondering

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Speaker 1: whether the Cares Act addresses this because things have changed,

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Speaker 1: and they're wondering if there have been any provisions in

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Speaker 1: the Cares Act for F S A and h s

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Speaker 1: AS in particular. And what we can tell you is

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Speaker 1: that not much has changed legally yet on these accounts.

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Speaker 1: There was a provision in the Cares Act that made

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Speaker 1: feminine hygiene products and h S A eligible expense. So

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Speaker 1: that's an upside for our female listeners. But what about

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Speaker 1: f says, These are of course the accounts that you

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Speaker 1: can put money aside and shelter from taxes, but it's

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Speaker 1: a use it or lose it situation, you have to

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Speaker 1: use it this year or at the very latest by

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Speaker 1: early next year. And there is talk of another stimulus bill,

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Speaker 1: and we're hoping that Congress at a minimum extends a

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Speaker 1: deadline for us to use these funds to still get

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Speaker 1: that tax benefit. Because let's say, Matt, somebody has a

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Speaker 1: dependent care f s A for daycare for the kids,

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Speaker 1: but that daycare is shut down. Well, they're not spending

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Speaker 1: the money that they had allocated in their f s A,

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Speaker 1: and in all likelihood it looks like they're gonna be

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Speaker 1: taxed on that due to no fault of their own.

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Speaker 1: So there's not much that we can share at this point,

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Speaker 1: but do know that we'll keep our ears open, we'll

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Speaker 1: keep looking and hopefully some sort of changes made to

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Speaker 1: help people with an v s A that can't use

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Speaker 1: it all this year. Now, that's right, man, So we're

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Speaker 1: gonna take a few coronavirus related listener questions as well

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Speaker 1: as cover some of those stimulus check details. We're gonna

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Speaker 1: get to that right after the break. All right, we're

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Speaker 1: back from the break. We just covered some of the

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Speaker 1: retirement account rule changes that are in effect now because

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Speaker 1: of the cares act, and it's time to get into

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Speaker 1: some listener questions and then we'll talk about stimulus checks

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Speaker 1: in a second. To David and the Facebook group had

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Speaker 1: a question Matt that I thought we should cover because

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Speaker 1: it's probably one that other people have thought. He said,

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Speaker 1: in this recent economic downturn, would it be wise to

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Speaker 1: take out a personal loan and invest that money? Because

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Speaker 1: I think I might be able to make more? And Matt,

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Speaker 1: you and I not risk averse, but this is pretty risky.

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Speaker 1: Like we think a certain amount of risk is healthy

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Speaker 1: and necessary to be a good investor, but taking on

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Speaker 1: debt to invest, it's not typically a great move, right man. Yeah, man,

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Speaker 1: When you look at the historic returns of the stock market,

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Speaker 1: like from a number standpoint, it seems like it would

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Speaker 1: make sense in our brain that taking on a lower

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Speaker 1: interest rate debt in order to invest and now a

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Speaker 1: higher return like that seems smart. That seems really intelligent.

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Speaker 1: But borrowing costs are certain and investment results are not certain.

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Speaker 1: And the other thing is that personal loans are going

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Speaker 1: to have higher rates, and so we're not fans of

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Speaker 1: those at all. The best rate possible that we're seeing

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Speaker 1: right now is like five to six percent and that's

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Speaker 1: on a site like so FI or credible, and you know,

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Speaker 1: there's no guarantee that you're gonna get anything close to that.

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Speaker 1: In the stock market. You might, you might get a

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Speaker 1: lot higher than that. But the fact is is we

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Speaker 1: just don't know. We don't know that the state of

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Speaker 1: our economy, we don't know where things are gonna be

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Speaker 1: later this year, all right, man. So that brings up

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Speaker 1: the question should you ever borrow money to invest? Are

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Speaker 1: you thinking about housing? Well, yeah, real estate. If you're

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Speaker 1: if you're gonna invest in real estate, that's something you

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Speaker 1: and I've done. We have become leveraged real estate buyers.

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Speaker 1: We put money down, typically on an investment property. That's

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Speaker 1: how you get the best terms. But we have done that, right,

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Speaker 1: We have taken on debt in order to invest. So

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Speaker 1: we would say that, yeah, there are some times where

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Speaker 1: it makes sense to take on debt for investment purposes.

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Speaker 1: But I think there are a couple of things that

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Speaker 1: you need to note before you do take on debt

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Speaker 1: for investment purposes. And one is the reason it is

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Speaker 1: different for real estate than for just investing in the

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Speaker 1: stock market is because your cash flow increases every month.

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Speaker 1: When you're a landlord, right, You're getting an actual return

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Speaker 1: on your investment every single month while you're paying down

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Speaker 1: your mortgage. And also housing is just a more stable investment.

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Speaker 1: It just doesn't fluctuate nearly as much as the stock

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Speaker 1: market does. With the stock market, borrowed money could increase

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Speaker 1: your net worth over time, right, but it's this far

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Speaker 1: riskier endeavor because you don't have any sort of assurance

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Speaker 1: of cash flow to pay on the debt like right now.

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Speaker 1: And so, yeah, borrowing to invest when it comes to

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Speaker 1: putting more of your money in the stock market in

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Speaker 1: hopes that it will go up in the next three

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Speaker 1: five years, that's an incredibly, incredibly risky move. While buying

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Speaker 1: investment properties and doing it well with proper leverage and

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Speaker 1: proper underlying you know, personal finance habits in your own life,

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Speaker 1: you're investing with borrowed money, but you're doing it wisely

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Speaker 1: and judiciously. Yeah. So, in another way to kind of

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Speaker 1: look at this problem is if you already own a property,

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Speaker 1: right like, so, say you have extra cash on hand,

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Speaker 1: and so the question then comes up, you know, should

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Speaker 1: I pay off that mortgage or should I take that

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Speaker 1: money and invest it more into the markets, and when

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Speaker 1: it comes to the numbers, we are going to tend

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Speaker 1: to side with investing more. And so someone listening might

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Speaker 1: ask the question like, like, what is the difference here, Well,

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Speaker 1: personal loans are different from mortgages because a mortgage it's

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Speaker 1: lower risk. It's also a lower interest rate loan. UH,

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Speaker 1: that is also giving you somewhere to sleep at night

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Speaker 1: because there is a tangible property there. It's not just

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Speaker 1: money that's invested in the market. However, Man, I want

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Speaker 1: to couch that even just a little bit, because like

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Speaker 1: I used to be by the numbers total money nerd, Right,

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Speaker 1: But like the more more, like the older I get,

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Speaker 1: the more I realized how much UH, emotions play into

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Speaker 1: our personal finances. And you know, dude, like down the road,

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Speaker 1: I might be someone who is going to lean in

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Speaker 1: favor of even paying off a property because of the

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Speaker 1: emotional benefits that you would receive from that. Even though

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Speaker 1: I know that, yeah, I'm only paying three and a

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Speaker 1: half percent, or I've got this property it's only at

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Speaker 1: four percent, it makes sense from a number standpoint to

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Speaker 1: keep that mortgage and continue to invest extra money into

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Speaker 1: the market. Right. However, there's something that my brain is

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Speaker 1: striving for which is like whether it be simplicity or

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Speaker 1: just to have less on my plate. And I am

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Speaker 1: seriously going to consider down the road if I do

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Speaker 1: have extra money to invest to maybe look at paying

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Speaker 1: off a mortgage instead of taking that money and investing

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Speaker 1: it in the market. Remember when we had our friend

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Speaker 1: Andy Hill on the show. Yeah, I'm totally thinking about

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Speaker 1: him because he's one on board with the you know,

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Speaker 1: the paying off your house train. He loves that clarity,

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Speaker 1: and I kind of envy that a little bit. I think, man,

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Speaker 1: he's got way less on his mind, even though in reality,

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Speaker 1: like what changes all that much? You know, like you've

431
00:19:02,440 --> 00:19:04,520
Speaker 1: got s road, the payments are automatic, I don't have

432
00:19:04,560 --> 00:19:07,240
Speaker 1: to think about it. But I think there's something different,

433
00:19:07,359 --> 00:19:10,000
Speaker 1: Like there's there's something like something clicks, and it feels

434
00:19:10,000 --> 00:19:12,680
Speaker 1: different when you know that you own a house compared

435
00:19:12,720 --> 00:19:15,480
Speaker 1: to having a mortgage on it versus being leveraged. Yeah

436
00:19:15,560 --> 00:19:18,760
Speaker 1: for sure. Yeah. So I think taking out debt to invest, Uh,

437
00:19:18,800 --> 00:19:21,000
Speaker 1: it's something you should be incredibly wary of. And taking

438
00:19:21,000 --> 00:19:23,399
Speaker 1: out a personal loan in order to invest is something

439
00:19:23,440 --> 00:19:25,440
Speaker 1: that you should definitely stay away from. All right, Matt,

440
00:19:25,480 --> 00:19:28,160
Speaker 1: let's get onto a voice question. This one came from

441
00:19:28,200 --> 00:19:32,160
Speaker 1: a listener in Minnesota about investing right Now. Hello Matt

442
00:19:32,200 --> 00:19:35,919
Speaker 1: and Joel. Terry here from St. Paul, Minnesota. Thank you

443
00:19:35,960 --> 00:19:38,399
Speaker 1: for your podcast. My husband and I listen on a

444
00:19:38,440 --> 00:19:41,639
Speaker 1: regular basis and find the information you provide to be

445
00:19:41,720 --> 00:19:44,679
Speaker 1: quite helpful. With the way the markets have been, we

446
00:19:44,760 --> 00:19:47,199
Speaker 1: found ourselves in a debate on whether or not you

447
00:19:47,240 --> 00:19:49,399
Speaker 1: could lose all the money in a four oh one K,

448
00:19:50,200 --> 00:19:52,679
Speaker 1: and since we're unable to find a solid answer, we

449
00:19:52,680 --> 00:19:57,080
Speaker 1: were hoping you guys could help. So can you lose everything,

450
00:19:57,200 --> 00:20:00,919
Speaker 1: including the contributions you and your employer have made or

451
00:20:00,920 --> 00:20:04,520
Speaker 1: would you just lose the gains in that account? Also,

452
00:20:04,920 --> 00:20:07,880
Speaker 1: should we cut back on our contributions if our employer

453
00:20:08,080 --> 00:20:11,399
Speaker 1: cuts back on their match? Thank you so much, guys.

454
00:20:12,280 --> 00:20:15,320
Speaker 1: Hey Terry, thanks so much for listening. We appreciate your question.

455
00:20:15,400 --> 00:20:18,320
Speaker 1: We appreciate your husband listening to both of you. Let's

456
00:20:18,320 --> 00:20:20,040
Speaker 1: go ahead and get your question. You're asking if you

457
00:20:20,040 --> 00:20:21,840
Speaker 1: can lose all of your money that you have in

458
00:20:21,840 --> 00:20:24,720
Speaker 1: your four oh one K. The short answer is it's possible,

459
00:20:24,760 --> 00:20:27,040
Speaker 1: for sure. But if that's the case, we've all got

460
00:20:27,080 --> 00:20:29,800
Speaker 1: bigger issues to worry about. Take your fish to Fry. Yeah,

461
00:20:29,800 --> 00:20:32,120
Speaker 1: and the reason for that is because hopefully you aren't

462
00:20:32,160 --> 00:20:35,520
Speaker 1: invested in widely diversified index funds like US Total Stock

463
00:20:35,560 --> 00:20:38,399
Speaker 1: Market Fund that has made up of thousands of different

464
00:20:38,440 --> 00:20:41,800
Speaker 1: American companies, or even the SMP five index fund, which

465
00:20:41,800 --> 00:20:44,320
Speaker 1: is made up of you can guess it maybe around

466
00:20:44,320 --> 00:20:47,480
Speaker 1: five hundred, not four nine different companies. I'm pretty sure

467
00:20:47,480 --> 00:20:49,800
Speaker 1: actually there's not exactly five hundred funds. I think it's

468
00:20:49,840 --> 00:20:54,119
Speaker 1: like was taken off recently. I think they were in

469
00:20:54,119 --> 00:20:56,359
Speaker 1: the SP hundred no longer. They didn't make the cut.

470
00:20:56,760 --> 00:20:58,840
Speaker 1: And so Terry though that you know, the chance though,

471
00:20:58,880 --> 00:21:01,760
Speaker 1: of every single one of these different companies tanking and

472
00:21:01,840 --> 00:21:04,840
Speaker 1: going bankrupt at the same time, it's highly unlikely. But

473
00:21:04,880 --> 00:21:06,880
Speaker 1: if that does happen, that's when we have bigger things

474
00:21:06,880 --> 00:21:08,639
Speaker 1: to worry about. Yeah, that's the end of our society

475
00:21:08,680 --> 00:21:10,919
Speaker 1: as we know it. And the end of your four

476
00:21:10,960 --> 00:21:12,919
Speaker 1: own K doesn't really matter very much when it's the

477
00:21:13,000 --> 00:21:16,280
Speaker 1: end of society, right, And and Terry to your question too,

478
00:21:16,800 --> 00:21:19,080
Speaker 1: So much of it does depend on what you're invested

479
00:21:19,080 --> 00:21:21,359
Speaker 1: in inside of your four oh one K. This has

480
00:21:21,400 --> 00:21:24,879
Speaker 1: happened before with individual stocks, right, and it could happen again.

481
00:21:25,320 --> 00:21:28,640
Speaker 1: Certain companies do go bankrupt from time to time. They

482
00:21:28,640 --> 00:21:32,160
Speaker 1: experienced a lot of difficulties in their stock plummets to zero.

483
00:21:32,240 --> 00:21:34,840
Speaker 1: Matt HBO just made some of their shows free right now,

484
00:21:34,880 --> 00:21:37,280
Speaker 1: And Emily and I are watching a documentary about the

485
00:21:37,560 --> 00:21:40,320
Speaker 1: monopoly game from McDonald's, like the fraud that was involved

486
00:21:40,400 --> 00:21:42,960
Speaker 1: over years and years. I remember that. Yeah, it's really interesting.

487
00:21:43,160 --> 00:21:46,639
Speaker 1: But one company, the marketing company that worked with McDonald's,

488
00:21:46,680 --> 00:21:49,800
Speaker 1: their stock, unbeknownst to basically any investor, went from a

489
00:21:49,840 --> 00:21:52,520
Speaker 1: hundred dollars to fifty cents in a day once it

490
00:21:52,560 --> 00:21:54,640
Speaker 1: was found out what happened. So this is the kind

491
00:21:54,680 --> 00:21:57,840
Speaker 1: of thing that can happen if you're narrowly invested in

492
00:21:58,000 --> 00:22:00,760
Speaker 1: just one company. Yes, you can lose it all. And

493
00:22:00,800 --> 00:22:03,800
Speaker 1: that's a terrifying situation. Let's say you put ten thousand

494
00:22:03,840 --> 00:22:06,440
Speaker 1: bucks in Cruise Line stock right now. Well, it could

495
00:22:06,480 --> 00:22:09,000
Speaker 1: recover handsomely and you might look like a genius. But

496
00:22:09,160 --> 00:22:12,000
Speaker 1: if that company ceases to exist, your investment could be

497
00:22:12,000 --> 00:22:15,000
Speaker 1: wiped out altogether. Yeah. Man, Another maybe more distant but

498
00:22:15,119 --> 00:22:16,840
Speaker 1: very real example, like look back to the early two

499
00:22:16,840 --> 00:22:20,199
Speaker 1: thousands with the Enron scandal. They had falsified their corporate

500
00:22:20,200 --> 00:22:23,199
Speaker 1: earnings reports like for years, and in the end they

501
00:22:23,200 --> 00:22:25,680
Speaker 1: closed their doors after a bankruptcy, and so the Enron

502
00:22:25,800 --> 00:22:28,119
Speaker 1: stock shareholders at the end of the all of that, like,

503
00:22:28,200 --> 00:22:31,120
Speaker 1: they were left with nothing. And this is another reason too, Matt,

504
00:22:31,160 --> 00:22:34,280
Speaker 1: that we suggest that people not put any of their

505
00:22:34,320 --> 00:22:38,199
Speaker 1: retirement funds into company stock because a lot of the

506
00:22:38,280 --> 00:22:41,680
Speaker 1: Enron employees not only did they lose their employment that day,

507
00:22:41,720 --> 00:22:44,240
Speaker 1: but they had a lot of Enron stock inside of

508
00:22:44,240 --> 00:22:46,840
Speaker 1: their retirement accounts that was wiped out. Too bad day

509
00:22:46,880 --> 00:22:50,040
Speaker 1: for Enron employees. Yeah, so that's why we're all about

510
00:22:50,080 --> 00:22:53,960
Speaker 1: diversifying your portfolio to reflect the overall American or potentially

511
00:22:53,960 --> 00:22:56,679
Speaker 1: world economy. So yeah, even then, you could lose your

512
00:22:56,720 --> 00:22:58,720
Speaker 1: original capital in the short term, right in months or

513
00:22:58,760 --> 00:23:01,480
Speaker 1: potentially even uh years, but in the long term, the

514
00:23:01,520 --> 00:23:05,239
Speaker 1: potential for that is almost non existent. And again, if

515
00:23:05,240 --> 00:23:07,760
Speaker 1: you were to invest in the overall economy in hundreds

516
00:23:07,800 --> 00:23:10,439
Speaker 1: and hundreds and hundreds of companies and your four oh

517
00:23:10,480 --> 00:23:13,679
Speaker 1: one K did collapse to zero, not just your contributions,

518
00:23:13,680 --> 00:23:16,560
Speaker 1: but your employers contributions as well, then we have bigger

519
00:23:16,560 --> 00:23:19,159
Speaker 1: fish to fry than It's a real nightmare situation on

520
00:23:19,200 --> 00:23:22,160
Speaker 1: our hands. So could your four one K come to zero. Yes,

521
00:23:22,720 --> 00:23:25,840
Speaker 1: is it likely to happen if you're widely diversified and

522
00:23:25,880 --> 00:23:29,240
Speaker 1: well invested. No, it's highly unlikely. And Terry, the last

523
00:23:29,280 --> 00:23:31,439
Speaker 1: little bit of your question there, you're asking about cutting

524
00:23:31,440 --> 00:23:34,520
Speaker 1: back on your contributions. If your employer was cutting back

525
00:23:34,600 --> 00:23:38,359
Speaker 1: on their contributions and the shortagewer there is, I would say, yes,

526
00:23:38,800 --> 00:23:41,480
Speaker 1: still contribute up to the company match if they are

527
00:23:41,520 --> 00:23:44,040
Speaker 1: offering a match. But if they're not. Beyond that, looks

528
00:23:44,119 --> 00:23:47,040
Speaker 1: open your own retirement account, preferably something like a roth

529
00:23:47,119 --> 00:23:49,679
Speaker 1: IRA with one of our favorite low cost brokerages like

530
00:23:49,760 --> 00:23:53,680
Speaker 1: Fidelity or Vanguard specifically, look at opening a roth IRA

531
00:23:54,040 --> 00:23:57,080
Speaker 1: if you meet the eligibility requirements. Yeah, Terry. Overall, if

532
00:23:57,080 --> 00:23:59,240
Speaker 1: your job is secure, you've got a decent emergency fund,

533
00:23:59,480 --> 00:24:02,200
Speaker 1: do not up investing. Just deviate away from that four

534
00:24:02,200 --> 00:24:04,280
Speaker 1: oh one K into a roth if that company match

535
00:24:04,320 --> 00:24:06,080
Speaker 1: does subside. And I know, Matt, we talked about this

536
00:24:06,160 --> 00:24:08,200
Speaker 1: last week. More and more employers are doing it. It's

537
00:24:08,200 --> 00:24:10,080
Speaker 1: a bummer, but that's the facts on the ground. Better

538
00:24:10,119 --> 00:24:11,800
Speaker 1: to lose that match than to lose your job, that's

539
00:24:11,840 --> 00:24:14,200
Speaker 1: for sure. All right, man, We've got another listener question.

540
00:24:14,600 --> 00:24:18,639
Speaker 1: My name is John. I'm from Conklin, Michigan. In I

541
00:24:18,720 --> 00:24:22,879
Speaker 1: inherited a sizeable amount of money. Does this disqualify me

542
00:24:23,080 --> 00:24:26,639
Speaker 1: from the stimulus checks? John, that's the shortest listener question

543
00:24:26,680 --> 00:24:29,639
Speaker 1: and how to money history. But this is a really

544
00:24:29,680 --> 00:24:31,960
Speaker 1: good question, and this will also allow us to dive

545
00:24:32,080 --> 00:24:34,919
Speaker 1: more into the details of the stimulus checks. What if

546
00:24:34,960 --> 00:24:36,879
Speaker 1: we answer the question the way John asked it, this

547
00:24:36,920 --> 00:24:38,920
Speaker 1: would be a lot shorter of a show. No, you're

548
00:24:38,920 --> 00:24:42,520
Speaker 1: not just qualified, goodbye. But John, you're asking about that

549
00:24:42,600 --> 00:24:46,320
Speaker 1: inheritance that does not count as income. So whatever dollar

550
00:24:46,400 --> 00:24:49,600
Speaker 1: amount that you did inherit back in that won't count

551
00:24:49,640 --> 00:24:52,040
Speaker 1: towards your adjusted gross income, which is what the federal

552
00:24:52,040 --> 00:24:56,000
Speaker 1: government is using to determine your eligibility on the stimulus checks.

553
00:24:56,480 --> 00:24:58,800
Speaker 1: You likely paid some taxes on that inheritance, like a

554
00:24:58,840 --> 00:25:02,359
Speaker 1: capital gains tax maybe or an inheritance tax, but I

555
00:25:02,400 --> 00:25:05,040
Speaker 1: guarantee you did not pay an income tax because it's

556
00:25:05,080 --> 00:25:07,960
Speaker 1: not income. Yeah. That's great information and good news for

557
00:25:08,040 --> 00:25:10,400
Speaker 1: John right that he's still eligible for that stimulus check.

558
00:25:10,520 --> 00:25:13,080
Speaker 1: Let's get into kind of some of the other specifics

559
00:25:13,480 --> 00:25:15,880
Speaker 1: about the stimulus checks. So people don't know about whether

560
00:25:15,880 --> 00:25:18,720
Speaker 1: they qualify or not So there are income requirements. Right,

561
00:25:18,800 --> 00:25:21,800
Speaker 1: Single adults with an adjusted gross income of seventy five

562
00:25:22,119 --> 00:25:23,639
Speaker 1: dollars or less is are going to get the full

563
00:25:23,680 --> 00:25:26,159
Speaker 1: amount in the twelve bucks, and married couples earning a

564
00:25:26,200 --> 00:25:28,239
Speaker 1: hundred and fifty thousand dollars or less will receive a

565
00:25:28,280 --> 00:25:31,600
Speaker 1: total of two hundred above those income limits to pay

566
00:25:31,600 --> 00:25:35,200
Speaker 1: out decreases until it stops altogether, similar to kind of

567
00:25:35,240 --> 00:25:37,760
Speaker 1: a ROTH contribution and how that works. How there are

568
00:25:38,080 --> 00:25:40,600
Speaker 1: limits to your income and whether you are allowed to

569
00:25:40,600 --> 00:25:43,399
Speaker 1: contribute to a roth. Right, So the cutoff for single

570
00:25:43,520 --> 00:25:46,600
Speaker 1: individuals is if you're earning ninety nine dollars in a year,

571
00:25:46,720 --> 00:25:49,200
Speaker 1: and they cut off for married couples is a thousand

572
00:25:49,240 --> 00:25:51,800
Speaker 1: in a year. Also, each qualifying kid under the age

573
00:25:51,800 --> 00:25:55,119
Speaker 1: of seventeen gets an additional five bucks added on to

574
00:25:55,240 --> 00:25:57,560
Speaker 1: that check. Yeah, so those are the cutoffs. Let's talk

575
00:25:57,600 --> 00:26:00,480
Speaker 1: about that phase out sort of section. Right, the benefits

576
00:26:00,560 --> 00:26:02,680
Speaker 1: are going to start increasing at a rate of five

577
00:26:02,720 --> 00:26:06,399
Speaker 1: dollars for every additional one d dollars an income, or

578
00:26:06,560 --> 00:26:08,160
Speaker 1: maybe another way to look at it is the amount

579
00:26:08,200 --> 00:26:11,600
Speaker 1: that you receive will be decreased by five percent of

580
00:26:11,720 --> 00:26:14,639
Speaker 1: the amount your income exceeds that seventy five. And this

581
00:26:14,720 --> 00:26:18,359
Speaker 1: is an example for for single individuals. Right. Uh. And

582
00:26:18,400 --> 00:26:20,719
Speaker 1: so a single person, say, for example, that has an

583
00:26:20,720 --> 00:26:23,440
Speaker 1: eighty five tho dollars salary, they would get a seven

584
00:26:23,800 --> 00:26:26,560
Speaker 1: dollar check because they would subtract the five percent of

585
00:26:26,600 --> 00:26:30,119
Speaker 1: that additional ten thousand dollars, which is five hundred bucks. Yeah.

586
00:26:30,240 --> 00:26:32,720
Speaker 1: Another question people have, Matt is about the eighteen or

587
00:26:32,720 --> 00:26:35,879
Speaker 1: twenty nineteen returns, And it's confusing because some people had

588
00:26:35,920 --> 00:26:38,000
Speaker 1: already filed a return for this year, other people haven't,

589
00:26:38,119 --> 00:26:40,200
Speaker 1: and then the tax deadline was extended. So do I

590
00:26:40,240 --> 00:26:41,720
Speaker 1: need to file? Don't I need to file? Do I

591
00:26:41,800 --> 00:26:44,040
Speaker 1: qualify with my twenty eighteen return? Do I need to

592
00:26:44,040 --> 00:26:46,480
Speaker 1: file my twenty nineteen in order to get this stimulus check?

593
00:26:46,760 --> 00:26:49,359
Speaker 1: So no, you don't need to file tax return for

594
00:26:49,400 --> 00:26:52,080
Speaker 1: twenty nineteen in order to get a stimulus check. The

595
00:26:52,119 --> 00:26:54,320
Speaker 1: I R S will look at your twenty eighteen return,

596
00:26:54,640 --> 00:26:56,920
Speaker 1: and if you have filed your twenty nineteen tax return,

597
00:26:57,119 --> 00:26:59,840
Speaker 1: your most recent adjusted gross income is what will do

598
00:27:00,000 --> 00:27:02,840
Speaker 1: Herman whether you'll steve the stimulus payment or not. You

599
00:27:02,880 --> 00:27:05,359
Speaker 1: can easily find your a g I online eight B

600
00:27:05,640 --> 00:27:07,679
Speaker 1: of your twenty nineteen tax return. So if you haven't

601
00:27:07,720 --> 00:27:10,480
Speaker 1: filed those twenty nineteen taxes yet. The government, the I

602
00:27:10,600 --> 00:27:12,960
Speaker 1: R S, is going to look at teens A G

603
00:27:13,119 --> 00:27:15,280
Speaker 1: I and that's how they're going to make a determination.

604
00:27:15,440 --> 00:27:18,639
Speaker 1: And so as long as you filed taxes for eighteen

605
00:27:18,760 --> 00:27:20,760
Speaker 1: or twenty nineteen, there's nothing else that you're gonna need

606
00:27:20,800 --> 00:27:23,440
Speaker 1: to do. Uh, you're receiving these checks. It's gonna be automatic.

607
00:27:23,800 --> 00:27:26,880
Speaker 1: Individuals or couples who opted for their previous year's tax

608
00:27:26,880 --> 00:27:30,920
Speaker 1: refunds to be directly deposited will have their stimulus checks

609
00:27:31,080 --> 00:27:34,520
Speaker 1: directly deposited as well. And we should expect those deposits

610
00:27:34,560 --> 00:27:37,879
Speaker 1: around April fifteenth, is what they were projecting. And so

611
00:27:37,920 --> 00:27:40,119
Speaker 1: that's next week. Man, that's pretty soon. And if you

612
00:27:40,119 --> 00:27:42,199
Speaker 1: don't have a direct deposits set up with the I

613
00:27:42,320 --> 00:27:44,960
Speaker 1: R S, then your check will likely be mailed to

614
00:27:45,160 --> 00:27:47,400
Speaker 1: the address that your returns were mailed to. Yeah, they're

615
00:27:47,400 --> 00:27:50,720
Speaker 1: saying that could take months and months longer than the

616
00:27:50,800 --> 00:27:53,480
Speaker 1: direct payments that are they're hoping to send out next

617
00:27:53,480 --> 00:27:55,520
Speaker 1: week exactly. Snail mail. Man, it takes a long time.

618
00:27:55,560 --> 00:27:58,520
Speaker 1: It takes a really long time to process all those checks. So, yeah,

619
00:27:58,520 --> 00:28:01,360
Speaker 1: it's a bummer. If if that's the US for you, because, yeah,

620
00:28:01,400 --> 00:28:03,960
Speaker 1: the government wants to get the money into our hands

621
00:28:04,040 --> 00:28:06,720
Speaker 1: right away to help stimulate economy. And Matt, we're going

622
00:28:06,800 --> 00:28:09,800
Speaker 1: to talk next week about what to do with your

623
00:28:09,840 --> 00:28:12,000
Speaker 1: tax refund money, with your stimulus check money. There are

624
00:28:12,000 --> 00:28:13,959
Speaker 1: a lot of good financial moves you can make right

625
00:28:13,960 --> 00:28:16,199
Speaker 1: now with an infusion of cash. And there's also a

626
00:28:16,200 --> 00:28:18,920
Speaker 1: triage of sorts that some people in in tougher financial

627
00:28:18,920 --> 00:28:21,080
Speaker 1: circumstances are really gonna have to consider. So yeah, we'll

628
00:28:21,080 --> 00:28:23,080
Speaker 1: get into all that stuff next week on the show.

629
00:28:23,119 --> 00:28:24,720
Speaker 1: That's right. So right now we're talking about how to

630
00:28:24,760 --> 00:28:26,440
Speaker 1: get that money, and the next week we'll talk about

631
00:28:26,440 --> 00:28:29,040
Speaker 1: how to spend it or what else to do with

632
00:28:29,040 --> 00:28:32,120
Speaker 1: it that spend spend it all at least get a mask, right,

633
00:28:32,400 --> 00:28:33,879
Speaker 1: that's right man. We need to play our part when

634
00:28:33,920 --> 00:28:35,680
Speaker 1: it comes to protecting the health of those in our

635
00:28:35,680 --> 00:28:39,760
Speaker 1: community while also allowing ourselves to support local businesses who

636
00:28:39,760 --> 00:28:41,920
Speaker 1: happened to be making these masks. So it's a win win.

637
00:28:42,000 --> 00:28:43,640
Speaker 1: I'm gonna look into those masks at the bike shop

638
00:28:43,720 --> 00:28:45,360
Speaker 1: you mentioned there, you go, man, I love seeing that.

639
00:28:45,360 --> 00:28:47,160
Speaker 1: Maybe I'll ride my bike over there and see what

640
00:28:47,160 --> 00:28:49,120
Speaker 1: they've got in stock or right, I don't know. Maybe

641
00:28:49,120 --> 00:28:50,720
Speaker 1: you have to order online and they ship it. I

642
00:28:50,760 --> 00:28:52,960
Speaker 1: don't know. It's it's all jumbled, like trying to buy

643
00:28:53,000 --> 00:28:55,480
Speaker 1: anything right now. It hasn't been so weird, like we're

644
00:28:55,520 --> 00:28:57,280
Speaker 1: so used to stuff, you know, showing up a day

645
00:28:57,360 --> 00:29:00,120
Speaker 1: later or two days tops, and you know I just

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00:29:00,200 --> 00:29:02,040
Speaker 1: ordered something like two weeks ago and it might show

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00:29:02,120 --> 00:29:04,440
Speaker 1: up tomorrow. I don't I don't know. Yes, some businesses

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00:29:04,480 --> 00:29:06,800
Speaker 1: are just saying we're not shipping right now because of

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00:29:06,840 --> 00:29:08,440
Speaker 1: the delays. I know. You know, one of my co

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00:29:08,520 --> 00:29:10,520
Speaker 1: workers was looking for a bike. There was this one

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00:29:10,520 --> 00:29:13,280
Speaker 1: bike company that was that was telling her that she

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00:29:13,320 --> 00:29:15,840
Speaker 1: would get delivery in a week's time, and another one

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00:29:15,880 --> 00:29:18,320
Speaker 1: could just couldn't give her delivery date. So yeah, it's

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00:29:18,320 --> 00:29:21,080
Speaker 1: just crazy, crazy times out there in the world of shipping.

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Speaker 1: All right, Matt, that's gonna do it for this episode.

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00:29:23,280 --> 00:29:25,000
Speaker 1: For folks that want our shout outs, will just go

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00:29:25,080 --> 00:29:27,680
Speaker 1: to our website how to money dot com. All right, man,

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00:29:27,760 --> 00:29:30,480
Speaker 1: So that's it until next time. Best Friends Out, Best

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00:29:30,480 --> 00:29:31,040
Speaker 1: Friends Out,