1 00:00:00,400 --> 00:00:03,120 Speaker 1: Coach, the energy out there felt different. What changed for 2 00:00:03,160 --> 00:00:03,800 Speaker 1: the team today? 3 00:00:03,880 --> 00:00:06,040 Speaker 2: It was the new game day scratches from the California 4 00:00:06,080 --> 00:00:07,080 Speaker 2: Lottery players. 5 00:00:07,120 --> 00:00:07,520 Speaker 3: Everything. 6 00:00:07,840 --> 00:00:09,799 Speaker 4: Those games sent the team's energy through the roof. 7 00:00:09,880 --> 00:00:11,880 Speaker 1: Are you saying it was the off field play that 8 00:00:11,920 --> 00:00:13,000 Speaker 1: made the difference on the field. 9 00:00:13,119 --> 00:00:15,840 Speaker 5: Hey, little play makes your day, and today it made 10 00:00:15,880 --> 00:00:16,279 Speaker 5: the game. 11 00:00:16,760 --> 00:00:19,319 Speaker 6: That's all for now, coach, one more question play than 12 00:00:19,360 --> 00:00:22,119 Speaker 6: New Los Angeles Chargers, San Francisco forty nine ers and 13 00:00:22,160 --> 00:00:24,960 Speaker 6: Los Angeles ram scratchers from the California Lottery. 14 00:00:25,040 --> 00:00:28,160 Speaker 4: A little play can make your day. Peace made responsibily. 15 00:00:28,200 --> 00:00:29,680 Speaker 7: It must be eighteen years or older to purchase late 16 00:00:29,760 --> 00:00:30,360 Speaker 7: or claim. 17 00:00:30,280 --> 00:00:33,400 Speaker 5: What would be a good percentage to use, you know, 18 00:00:33,520 --> 00:00:35,640 Speaker 5: so that way I can just keep the same number 19 00:00:35,760 --> 00:00:39,159 Speaker 5: going in there all the time. Yeah, you know, I 20 00:00:39,200 --> 00:00:41,800 Speaker 5: don't really like percentages too much. I like actual numbers 21 00:00:41,840 --> 00:00:44,440 Speaker 5: because I could say, like I could say like ten percent, 22 00:00:44,520 --> 00:00:47,080 Speaker 5: fifteen percent, but it really just depends on your situation. 23 00:00:47,240 --> 00:00:50,000 Speaker 5: So I always try to look at like discretionary income, 24 00:00:50,040 --> 00:00:52,479 Speaker 5: so like how much money is left over at the 25 00:00:52,560 --> 00:00:54,480 Speaker 5: end of the month. So that's the first Like first 26 00:00:54,480 --> 00:00:55,920 Speaker 5: we got to see, like how much money is left 27 00:00:55,920 --> 00:00:57,360 Speaker 5: over at the end of the month, right, So it's 28 00:00:57,440 --> 00:01:00,680 Speaker 5: like one of two things is happening. And this is 29 00:01:00,720 --> 00:01:02,840 Speaker 5: just like broad range statement. Either you have money left 30 00:01:02,880 --> 00:01:04,080 Speaker 5: over at the end of the month where you don't, 31 00:01:04,200 --> 00:01:06,760 Speaker 5: or you're running in a deficit. So if you have 32 00:01:06,880 --> 00:01:08,560 Speaker 5: money left over, you got to see how much money 33 00:01:08,600 --> 00:01:10,400 Speaker 5: you have left over. So if it's like, Okay, I 34 00:01:10,480 --> 00:01:13,319 Speaker 5: have a thousand dollars left over after all my bills 35 00:01:13,360 --> 00:01:15,720 Speaker 5: are paid, after you know, I have some fun every 36 00:01:15,760 --> 00:01:18,360 Speaker 5: single month, I have at least a thousand dollars left over, right, 37 00:01:18,440 --> 00:01:22,480 Speaker 5: So just using that that number, I personally would probably 38 00:01:22,520 --> 00:01:25,520 Speaker 5: do somewhere along the lines of like putting thirty percent 39 00:01:25,560 --> 00:01:27,720 Speaker 5: of that money into like savings until you have you know, 40 00:01:28,000 --> 00:01:31,200 Speaker 5: six to twelve months of savings, because that's important, and 41 00:01:31,240 --> 00:01:35,440 Speaker 5: then I probably would look to invest thirty percent though 42 00:01:35,520 --> 00:01:37,520 Speaker 5: now that's like sixty percent of the money right there, 43 00:01:37,640 --> 00:01:40,120 Speaker 5: and then maybe you know, twenty percent would go to 44 00:01:40,360 --> 00:01:42,880 Speaker 5: you know, a kid's account, twenty to fifteen percent or 45 00:01:42,959 --> 00:01:44,920 Speaker 5: go to the kid's account, and then the left the 46 00:01:44,959 --> 00:01:47,200 Speaker 5: rest is just kind of left for like miscellaneous. So 47 00:01:47,360 --> 00:01:49,880 Speaker 5: that's what I would kind of go by more so 48 00:01:50,000 --> 00:01:52,680 Speaker 5: than like, you know, just a percent of like your 49 00:01:52,680 --> 00:01:55,200 Speaker 5: total income, because I could say ten percent of your income, 50 00:01:55,200 --> 00:01:57,240 Speaker 5: but if that might be too much, so it's really 51 00:01:57,240 --> 00:02:01,120 Speaker 5: more of a percentage of your discretionary income, and the 52 00:02:01,200 --> 00:02:04,880 Speaker 5: discretionary income I would say probably like twenty twenty to 53 00:02:04,880 --> 00:02:08,360 Speaker 5: fifteen percent of discretionary income that you can afford to 54 00:02:08,480 --> 00:02:09,200 Speaker 5: you know, put away. 55 00:02:09,960 --> 00:02:12,040 Speaker 8: Okay, thank you. I appreciate that man that helped me 56 00:02:12,040 --> 00:02:12,519 Speaker 8: out a lot. 57 00:02:12,680 --> 00:02:14,880 Speaker 4: No, no problem, brother, you have a good one, all. 58 00:02:14,880 --> 00:02:17,200 Speaker 9: Right, Tyran, We're coming to you on meet yourself please. 59 00:02:18,680 --> 00:02:20,799 Speaker 10: Hell, I'm good at eurosage. 60 00:02:20,880 --> 00:02:21,600 Speaker 4: I'm good, I'm good. 61 00:02:22,960 --> 00:02:27,480 Speaker 11: I have a question, what are the disadvantage of an escort? 62 00:02:27,680 --> 00:02:29,720 Speaker 11: I kind of think I know a little bit about 63 00:02:29,720 --> 00:02:33,240 Speaker 11: the advantages in compassing to an LLC, but what are 64 00:02:33,320 --> 00:02:35,280 Speaker 11: the disadvantage of an escort? 65 00:02:36,000 --> 00:02:39,639 Speaker 5: It's more structured. I think this business had actually told 66 00:02:39,639 --> 00:02:41,480 Speaker 5: a class about this. But you have to pay yourself 67 00:02:41,480 --> 00:02:44,240 Speaker 5: a salary, so especially like if you're not making you 68 00:02:44,280 --> 00:02:46,200 Speaker 5: know that much money, or if the business is just 69 00:02:46,240 --> 00:02:48,560 Speaker 5: starting out, it could be kind of pressure on you 70 00:02:48,639 --> 00:02:51,080 Speaker 5: to you know, have payroll. So that's something that you know, 71 00:02:51,160 --> 00:02:54,000 Speaker 5: definitely could take into consideration. Like I forgot the number 72 00:02:54,000 --> 00:02:55,480 Speaker 5: that she said, but I think it's like one hundred 73 00:02:55,480 --> 00:02:57,000 Speaker 5: thousand dollars something like that. You should be making like 74 00:02:57,000 --> 00:02:58,720 Speaker 5: one hundred thousand dollars in your business before you go 75 00:02:58,760 --> 00:03:02,600 Speaker 5: to es coop route, because yeah, it's definitely it's definitely 76 00:03:02,600 --> 00:03:05,360 Speaker 5: a lot more structure. But off the top of my head, 77 00:03:05,520 --> 00:03:07,359 Speaker 5: I would I would think that that would be something 78 00:03:07,400 --> 00:03:09,840 Speaker 5: that you know, you just definitely have to consider because 79 00:03:09,880 --> 00:03:13,440 Speaker 5: you definitely have to put yourself on payroll and. 80 00:03:14,000 --> 00:03:15,799 Speaker 4: You know, we as like a regular LLC. 81 00:03:16,200 --> 00:03:18,239 Speaker 5: You could just you know, not pay yourself a month, 82 00:03:18,320 --> 00:03:20,920 Speaker 5: two months whatever if not no money's coming in or 83 00:03:20,919 --> 00:03:22,480 Speaker 5: you just want to just you know, you're real within 84 00:03:22,560 --> 00:03:23,040 Speaker 5: that month. 85 00:03:23,160 --> 00:03:25,280 Speaker 4: So that's something that's taking to consideration. 86 00:03:25,560 --> 00:03:28,520 Speaker 5: Especially a lot of businesses, especially when they first start, 87 00:03:28,680 --> 00:03:31,120 Speaker 5: cash flow is very up and down. So you know, 88 00:03:31,280 --> 00:03:33,359 Speaker 5: if your cash flow is up and down, you want 89 00:03:33,400 --> 00:03:35,000 Speaker 5: to make sure you getting to a point where you 90 00:03:35,080 --> 00:03:36,880 Speaker 5: have some level of consistent cash flow. 91 00:03:36,960 --> 00:03:37,240 Speaker 4: First. 92 00:03:37,600 --> 00:03:41,680 Speaker 10: Okay, thanks very much, that answered the question. 93 00:03:41,760 --> 00:03:45,920 Speaker 9: Thanks all right, all right, we're coming to you on yourself. 94 00:03:45,920 --> 00:03:50,040 Speaker 10: Please all right, good morning, thanks for coming. My question 95 00:03:50,200 --> 00:03:53,600 Speaker 10: is I got to question. My first question is let's say, 96 00:03:53,600 --> 00:03:55,920 Speaker 10: like example, like I have a mortgage that I was 97 00:03:55,920 --> 00:04:00,120 Speaker 10: trying to pay early, be like within seven to ten years. 98 00:04:00,160 --> 00:04:02,720 Speaker 10: And also let's say if I have some money that's 99 00:04:02,760 --> 00:04:05,080 Speaker 10: coming in. Let's see, like if I have like probably 100 00:04:05,200 --> 00:04:08,840 Speaker 10: like two to five thousand, so like, should I put 101 00:04:08,880 --> 00:04:12,280 Speaker 10: it in the market? Even I do have automatic payment, 102 00:04:12,320 --> 00:04:15,160 Speaker 10: that's that's contribution that I make every month for my 103 00:04:15,320 --> 00:04:18,240 Speaker 10: investment on the stock market and crypto and stuff like that. 104 00:04:18,360 --> 00:04:21,279 Speaker 10: So should I keep the best thing is for me 105 00:04:21,320 --> 00:04:22,960 Speaker 10: to do, Should I like put that money in the 106 00:04:23,000 --> 00:04:25,240 Speaker 10: stock market or should I put it to my mortgage? 107 00:04:25,360 --> 00:04:27,160 Speaker 10: Even like in the future, I want to like to 108 00:04:27,400 --> 00:04:32,200 Speaker 10: invest more and and and real estate. So what's what's 109 00:04:32,240 --> 00:04:32,720 Speaker 10: where will be? 110 00:04:32,880 --> 00:04:32,960 Speaker 6: Uh? 111 00:04:33,920 --> 00:04:36,080 Speaker 5: Yes, but what we suggest, I mean I think you 112 00:04:36,080 --> 00:04:37,520 Speaker 5: could do both. I don't think I don't think it 113 00:04:37,520 --> 00:04:39,320 Speaker 5: has to be a one or the other situation. You know, 114 00:04:39,320 --> 00:04:41,360 Speaker 5: you want to see what's most what's most important, it's 115 00:04:41,400 --> 00:04:43,120 Speaker 5: paid off your house more important? Or do you think 116 00:04:43,120 --> 00:04:44,719 Speaker 5: you can get a better return to the stock market, 117 00:04:44,800 --> 00:04:46,680 Speaker 5: And especially if you got a low interest rate, it 118 00:04:46,800 --> 00:04:49,320 Speaker 5: might be more advantageous to put the money into the 119 00:04:49,360 --> 00:04:51,800 Speaker 5: market because you know your opportunity costs is probably greater 120 00:04:51,839 --> 00:04:52,760 Speaker 5: investing in the stock market. 121 00:04:52,839 --> 00:04:53,920 Speaker 4: But that doesn't necessarily mean. 122 00:04:53,800 --> 00:04:56,200 Speaker 5: That you can't do both, So you know you could, uh, 123 00:04:56,560 --> 00:04:58,120 Speaker 5: maybe if instead of if you were going to put 124 00:04:58,120 --> 00:05:00,919 Speaker 5: two thousand dollars a month into pay into your mortgage 125 00:05:00,920 --> 00:05:02,960 Speaker 5: to pay it off, you know, a lot quicker, maybe. 126 00:05:02,720 --> 00:05:04,320 Speaker 4: You put five hundred dollars a both. 127 00:05:04,440 --> 00:05:06,480 Speaker 5: Right, you know that's still going to add up over 128 00:05:06,480 --> 00:05:09,000 Speaker 5: the course of the year, and you know you can 129 00:05:09,080 --> 00:05:12,960 Speaker 5: still knock off years of paying off your mortgage. So 130 00:05:13,279 --> 00:05:15,720 Speaker 5: I would I always say, you know, see what's most 131 00:05:15,760 --> 00:05:19,599 Speaker 5: important to you. But you can definitely do both, especially 132 00:05:19,640 --> 00:05:21,839 Speaker 5: with that with that amount of money. It's not like 133 00:05:21,839 --> 00:05:23,640 Speaker 5: it's you know, a couple of hundred, couple of thousand. 134 00:05:24,080 --> 00:05:27,200 Speaker 5: You can definitely, you know, allocate money to both of them. 135 00:05:27,200 --> 00:05:30,440 Speaker 5: But the opportunity cost will probably be better investing in the 136 00:05:30,480 --> 00:05:33,440 Speaker 5: stock market. But I also understand, you know, if you 137 00:05:33,440 --> 00:05:36,080 Speaker 5: don't want to have the mortgage forever and you want 138 00:05:36,120 --> 00:05:38,440 Speaker 5: to pay off the property sooner, so you know, maybe 139 00:05:38,600 --> 00:05:40,600 Speaker 5: maybe you just do some calculations and see how that 140 00:05:40,640 --> 00:05:41,880 Speaker 5: will work out if you if you did it for 141 00:05:42,040 --> 00:05:43,840 Speaker 5: just a little bit less money than you would have 142 00:05:44,120 --> 00:05:44,839 Speaker 5: done originally. 143 00:05:45,400 --> 00:05:48,880 Speaker 10: My other question is, what what does the difference between 144 00:05:48,920 --> 00:05:51,039 Speaker 10: like QQQ and qqq M. 145 00:05:51,320 --> 00:05:52,120 Speaker 4: You broke up a little bit. 146 00:05:52,160 --> 00:05:55,120 Speaker 10: What you say was the difference between like QQQ and 147 00:05:55,240 --> 00:05:57,040 Speaker 10: qqq M. 148 00:05:57,080 --> 00:06:00,080 Speaker 5: I think qqq M, Troy, I know the cute to 149 00:06:00,240 --> 00:06:02,440 Speaker 5: t but let me make sure I get a right 150 00:06:02,440 --> 00:06:03,080 Speaker 5: information on that. 151 00:06:03,320 --> 00:06:05,440 Speaker 10: I think it's a mini QQQ, but I would I 152 00:06:05,480 --> 00:06:07,480 Speaker 10: would like to know if there's a difference, like from 153 00:06:08,400 --> 00:06:11,520 Speaker 10: the percentage of return or the amount of stack that 154 00:06:11,520 --> 00:06:15,040 Speaker 10: that that they invest in. Was that one is around 155 00:06:15,040 --> 00:06:17,760 Speaker 10: like three something and then the QQM is on like 156 00:06:17,880 --> 00:06:18,600 Speaker 10: one something. 157 00:06:19,720 --> 00:06:21,640 Speaker 5: Yeah, let me let me look, let me look, I 158 00:06:21,680 --> 00:06:23,560 Speaker 5: have Troy doing research on it. Get back to you 159 00:06:23,600 --> 00:06:23,880 Speaker 5: on that. 160 00:06:24,000 --> 00:06:28,800 Speaker 10: Okay, thank you appreciate it. And also for form irate 161 00:06:29,200 --> 00:06:31,640 Speaker 10: rough area for kids, so like do they have to 162 00:06:31,640 --> 00:06:34,279 Speaker 10: be a certain age for to start a rough area 163 00:06:34,320 --> 00:06:34,839 Speaker 10: for kids? 164 00:06:34,960 --> 00:06:37,279 Speaker 5: Yeah, yeah, they have to be well yes or no, 165 00:06:37,480 --> 00:06:38,760 Speaker 5: they have to if you're doing it. 166 00:06:39,640 --> 00:06:40,839 Speaker 4: If you're not self. 167 00:06:40,560 --> 00:06:42,600 Speaker 5: Employed, then they have to be a working age, like 168 00:06:42,640 --> 00:06:44,680 Speaker 5: they have to have a job. The working the age 169 00:06:44,680 --> 00:06:46,880 Speaker 5: depends on what state you live in. But as long 170 00:06:46,920 --> 00:06:48,719 Speaker 5: as they have working papers and they have a job 171 00:06:48,720 --> 00:06:50,760 Speaker 5: and they actually have to be working, that's another thing. 172 00:06:50,880 --> 00:06:53,240 Speaker 4: So as soon as they're able to work, you can 173 00:06:53,279 --> 00:06:53,520 Speaker 4: do it. 174 00:06:53,720 --> 00:06:56,760 Speaker 5: But if you're self employed, it's a little different because 175 00:06:56,760 --> 00:06:59,839 Speaker 5: you can actually hire your child before they legally have 176 00:07:00,120 --> 00:07:03,200 Speaker 5: like working papers, as long as they're actually working and 177 00:07:03,520 --> 00:07:06,200 Speaker 5: they can actually do a job. So obviously, like you 178 00:07:06,200 --> 00:07:08,479 Speaker 5: can't hire a two year old, but like if you 179 00:07:08,560 --> 00:07:10,760 Speaker 5: have like somebody that's like ten or eleven years old 180 00:07:10,840 --> 00:07:12,560 Speaker 5: and they're actually doing you just have to be able 181 00:07:12,600 --> 00:07:14,480 Speaker 5: to justify it in case you have to get audited. 182 00:07:15,040 --> 00:07:17,840 Speaker 5: But you have more flexibility and you can hire younger 183 00:07:18,360 --> 00:07:20,720 Speaker 5: if you're self employed. But if the child is working 184 00:07:21,040 --> 00:07:23,880 Speaker 5: just a regular job whenever, if they work a job, 185 00:07:23,920 --> 00:07:25,680 Speaker 5: then they could you could put money into the IRA. 186 00:07:25,840 --> 00:07:27,360 Speaker 10: It's so basically you cannot do it in the course 187 00:07:27,520 --> 00:07:28,680 Speaker 10: your account for the IRA. 188 00:07:29,040 --> 00:07:32,040 Speaker 5: Yeah yeah, no, it's it's a custodial account. It's just 189 00:07:32,040 --> 00:07:35,040 Speaker 5: a it's a royal IRA. Still you still you're still 190 00:07:35,080 --> 00:07:37,680 Speaker 5: like the child is still a minor. The child's still 191 00:07:37,680 --> 00:07:39,840 Speaker 5: a minor, so it's not like you know, you got 192 00:07:39,840 --> 00:07:41,320 Speaker 5: to set it up for them and you put the 193 00:07:41,360 --> 00:07:43,840 Speaker 5: money in. But you know, you can have a custodio 194 00:07:44,000 --> 00:07:46,800 Speaker 5: account where it's just in the market and there's no 195 00:07:46,840 --> 00:07:50,520 Speaker 5: retirement account attached to it, or it's the retirement account 196 00:07:50,680 --> 00:07:52,440 Speaker 5: but it's still it's still a Custudio account. 197 00:07:52,720 --> 00:07:57,800 Speaker 1: Good morning, Good morning, so thank you for coming on 198 00:07:57,840 --> 00:07:59,960 Speaker 1: the call even though you're not feeling well. That's right, 199 00:08:00,200 --> 00:08:02,800 Speaker 1: nice of you. And congratulations with the Steve Harvey interview. 200 00:08:03,080 --> 00:08:06,440 Speaker 1: It was really really well done. It was great. So 201 00:08:06,520 --> 00:08:08,760 Speaker 1: you guys must feel so proud of yourselves right now, 202 00:08:08,800 --> 00:08:11,720 Speaker 1: So thanks a lot for that as well. My question 203 00:08:11,800 --> 00:08:14,360 Speaker 1: is about my TDA. I am a teacher in New 204 00:08:14,440 --> 00:08:18,120 Speaker 1: York City and I have about ten more years left 205 00:08:18,240 --> 00:08:21,520 Speaker 1: till I retire, so right now I have They let 206 00:08:21,600 --> 00:08:24,560 Speaker 1: you split up your TDA, your tax defer annuity into 207 00:08:24,800 --> 00:08:28,640 Speaker 1: diversified and fixed. So I believe I've always had it 208 00:08:29,040 --> 00:08:32,679 Speaker 1: like eighty twenty, but I just realized that the diversified 209 00:08:32,760 --> 00:08:35,360 Speaker 1: has options and I didn't know that. So there's like 210 00:08:35,760 --> 00:08:39,800 Speaker 1: a bunch of different options, and I just wanted to know, 211 00:08:39,880 --> 00:08:42,240 Speaker 1: like how, like what's the best way to like pick 212 00:08:42,640 --> 00:08:46,480 Speaker 1: between the different funds because they have like like three 213 00:08:46,559 --> 00:08:50,640 Speaker 1: or four. There's like a sustainable one, there's an international one, 214 00:08:51,760 --> 00:08:53,760 Speaker 1: Like do I just go by like the history or 215 00:08:53,800 --> 00:08:55,800 Speaker 1: do you think it's better to just stay with like 216 00:08:55,840 --> 00:08:58,120 Speaker 1: the one they recommend, which I think is just they 217 00:08:58,160 --> 00:08:59,640 Speaker 1: call it like the diversified. 218 00:09:00,080 --> 00:09:03,320 Speaker 5: It's always good to rule a thumb. You always want 219 00:09:03,320 --> 00:09:06,400 Speaker 5: to look at rate of returns. That's something that's you know, 220 00:09:06,480 --> 00:09:08,800 Speaker 5: a cheat code whenever you look at an investment, especially 221 00:09:08,840 --> 00:09:11,520 Speaker 5: like four one K or any type of retirement plan investments, 222 00:09:11,840 --> 00:09:14,880 Speaker 5: usually like they'll they'll give you a sheet and it'll 223 00:09:14,920 --> 00:09:16,760 Speaker 5: have like, you know, the different funds, so it's like 224 00:09:16,760 --> 00:09:19,640 Speaker 5: the stable fund, the growth fund, the international funds, and 225 00:09:19,679 --> 00:09:23,160 Speaker 5: then they'll have like the year to date return, three 226 00:09:23,280 --> 00:09:27,000 Speaker 5: year return, five year return, ten year return, census inception. 227 00:09:27,160 --> 00:09:28,840 Speaker 5: What I like to do is look at the longest 228 00:09:28,840 --> 00:09:32,120 Speaker 5: possible time frame, so like ten years or since its inception. 229 00:09:32,559 --> 00:09:34,920 Speaker 5: Sometimes if it's new, it might not have a ten 230 00:09:35,000 --> 00:09:36,679 Speaker 5: year track record. It might have like a five year 231 00:09:36,720 --> 00:09:38,800 Speaker 5: or four year track record. But ye or to try 232 00:09:38,840 --> 00:09:41,640 Speaker 5: to look at the long the longest possible time frame 233 00:09:42,160 --> 00:09:45,520 Speaker 5: and see which one has usually performed for that. Usually, 234 00:09:45,559 --> 00:09:48,240 Speaker 5: like I haven't really been a big fan on international funds. 235 00:09:48,320 --> 00:09:50,720 Speaker 5: It's me personally, especially like in retirement accounts over the 236 00:09:50,760 --> 00:09:53,560 Speaker 5: last like ten years, they haven't really done as good 237 00:09:53,760 --> 00:09:56,400 Speaker 5: as like just international growth growth funds. So it really 238 00:09:56,400 --> 00:09:58,520 Speaker 5: just depends on your risk tolerance. But you know, the 239 00:09:58,559 --> 00:10:00,720 Speaker 5: growth growth funds is always going to something that's going 240 00:10:00,760 --> 00:10:03,000 Speaker 5: to usually you know, be the best as far as 241 00:10:03,080 --> 00:10:06,280 Speaker 5: growth over the course of time. That's like no more 242 00:10:06,320 --> 00:10:09,079 Speaker 5: large cab companies. But the good thing And I don't 243 00:10:09,120 --> 00:10:11,000 Speaker 5: know if they changed it, but I know a few 244 00:10:11,040 --> 00:10:13,640 Speaker 5: years ago for the fixed account for the city, how 245 00:10:13,720 --> 00:10:15,920 Speaker 5: much is the fixed account paign like percent something like that. 246 00:10:16,360 --> 00:10:18,800 Speaker 1: It's it's seven point twenty five. When I started, it 247 00:10:18,880 --> 00:10:21,520 Speaker 1: was eight point five or eight point two five, but 248 00:10:21,559 --> 00:10:23,760 Speaker 1: then they lowered it to seven point two five, so 249 00:10:23,800 --> 00:10:25,480 Speaker 1: I was able to get the eight percent like the 250 00:10:25,480 --> 00:10:28,160 Speaker 1: first two or three years I started teaching. But now 251 00:10:28,200 --> 00:10:31,000 Speaker 1: it's seven point twenty five, and like I have ten 252 00:10:31,160 --> 00:10:34,640 Speaker 1: about ten more years left, so I have like twenty 253 00:10:34,720 --> 00:10:37,600 Speaker 1: years already and I have ten more to go. But 254 00:10:38,800 --> 00:10:43,040 Speaker 1: the sustainable index gives a greater return, but it's very new, 255 00:10:43,200 --> 00:10:45,360 Speaker 1: so it's only like a few years old, so I'm like, 256 00:10:45,559 --> 00:10:47,800 Speaker 1: is this should I trust that? And then they also 257 00:10:47,800 --> 00:10:50,800 Speaker 1: say to like switch it right before you're about to retire, 258 00:10:50,880 --> 00:10:53,960 Speaker 1: to just be in the fixed ones so you don't 259 00:10:53,960 --> 00:10:56,200 Speaker 1: have to worry about like big issues with the market. 260 00:10:56,320 --> 00:10:56,520 Speaker 12: Yeah. 261 00:10:56,559 --> 00:10:58,640 Speaker 5: Well, the good thing with that is that that's pretty 262 00:10:58,679 --> 00:11:00,360 Speaker 5: much I heard of to have a fix accoun that 263 00:11:00,400 --> 00:11:03,680 Speaker 5: earns seven percent. So that is one thing that you know, 264 00:11:03,800 --> 00:11:06,760 Speaker 5: the New York City foh Department. That's like really like 265 00:11:06,920 --> 00:11:09,840 Speaker 5: kind of amazing that they have a fixed account, which 266 00:11:09,880 --> 00:11:11,360 Speaker 5: is like pretty much you know, no matter what the 267 00:11:11,400 --> 00:11:14,440 Speaker 5: stock market does, you can earn seven percent. So usually 268 00:11:14,440 --> 00:11:16,680 Speaker 5: a fixed account in this environment is like one percent 269 00:11:16,760 --> 00:11:18,960 Speaker 5: or less than one percent. So seven percent on a 270 00:11:18,960 --> 00:11:22,439 Speaker 5: fixed account is extremely extremely good. So you know, I 271 00:11:22,480 --> 00:11:25,000 Speaker 5: wouldn't take it all out of there. Definitely would probably 272 00:11:25,080 --> 00:11:27,240 Speaker 5: leave some money in there just for the safety purposes 273 00:11:27,320 --> 00:11:30,240 Speaker 5: of it. Like you know, if all if all else fails, 274 00:11:30,440 --> 00:11:33,439 Speaker 5: if the stock market crashes, you're guaranteed to get seven percent. 275 00:11:33,480 --> 00:11:36,560 Speaker 5: That's not bad, obviously, you know that's not as good 276 00:11:36,600 --> 00:11:38,400 Speaker 5: as if the stock market goes crazy and you get 277 00:11:38,400 --> 00:11:40,440 Speaker 5: thirty percent of twenty percent. But you know, it's all 278 00:11:40,480 --> 00:11:43,199 Speaker 5: about diversification. So I would diversify, but I would leave 279 00:11:43,240 --> 00:11:46,120 Speaker 5: at least at least like probably twenty five percent in 280 00:11:46,160 --> 00:11:48,840 Speaker 5: a fixed account because that's just like a guarantee insurance. 281 00:11:48,840 --> 00:11:49,240 Speaker 4: Almost. 282 00:11:49,960 --> 00:11:52,880 Speaker 9: All right, thank you Sedalia. All right, Dwight, we're coming 283 00:11:52,920 --> 00:11:55,440 Speaker 9: to you on place, but you're u muted. You should 284 00:11:55,440 --> 00:11:58,040 Speaker 9: be able to speak right, looks like he's having difficulties. 285 00:11:58,280 --> 00:11:59,880 Speaker 4: Sometimes you got to on this do them tool. 286 00:11:59,880 --> 00:12:01,600 Speaker 5: You got to make sure you are muted on your 287 00:12:01,679 --> 00:12:03,719 Speaker 5: end too, like we can unmutube, but make sure you're 288 00:12:03,840 --> 00:12:04,480 Speaker 5: muted on your end. 289 00:12:04,480 --> 00:12:05,679 Speaker 4: So we could all Yeah, he. 290 00:12:05,640 --> 00:12:08,480 Speaker 9: Hadn't muted himself, but he wasn't speaking. All right, do right, 291 00:12:08,520 --> 00:12:11,040 Speaker 9: We're gonna go to the next person, Natasha, I mute 292 00:12:11,040 --> 00:12:12,400 Speaker 9: yourself please, football. 293 00:12:12,960 --> 00:12:15,440 Speaker 6: I have a question about a trust. Who do I 294 00:12:15,520 --> 00:12:18,880 Speaker 6: go to the start a trust? Where do you live 295 00:12:19,400 --> 00:12:20,439 Speaker 6: in Maryland? 296 00:12:21,440 --> 00:12:21,680 Speaker 12: Well? 297 00:12:21,840 --> 00:12:23,600 Speaker 4: I know so the lawyers that we use. 298 00:12:23,920 --> 00:12:25,480 Speaker 5: You know, the thing with the lawyers that is different, 299 00:12:25,520 --> 00:12:28,280 Speaker 5: Like MG he could practice in almost any state for 300 00:12:28,320 --> 00:12:30,559 Speaker 5: the for the mortgages, but lawyers they have to they 301 00:12:30,559 --> 00:12:32,480 Speaker 5: have to be licensed in the state. So I know 302 00:12:32,520 --> 00:12:35,200 Speaker 5: we've used to being a lot. I know she's licensed 303 00:12:35,240 --> 00:12:36,800 Speaker 5: in New York and New Jersey. I don't know if 304 00:12:36,840 --> 00:12:40,240 Speaker 5: she's licensed in Maryland, but I think that we we 305 00:12:40,480 --> 00:12:42,720 Speaker 5: had somebody that was licensed in Maryland, because I remember 306 00:12:42,720 --> 00:12:44,960 Speaker 5: I got that question before from somebody from Maryland. But 307 00:12:45,040 --> 00:12:47,280 Speaker 5: if not, we can definitely. You know, Look, I don't 308 00:12:47,280 --> 00:12:48,640 Speaker 5: want to give you answer right now because I don't 309 00:12:48,640 --> 00:12:49,960 Speaker 5: know at the top of my head. But if we 310 00:12:49,960 --> 00:12:51,680 Speaker 5: could put it in a Facebook back that we, you know, 311 00:12:52,120 --> 00:12:55,040 Speaker 5: do some research and find some good attorneys, maybe Magna. 312 00:12:55,080 --> 00:12:56,680 Speaker 4: Maybe that's something that we can just do period, like 313 00:12:56,679 --> 00:12:57,760 Speaker 4: you know, we can try to, like you. 314 00:12:57,679 --> 00:13:00,839 Speaker 2: Know, this episode is brought to you by P and 315 00:13:00,880 --> 00:13:03,960 Speaker 2: C Bank. A lot of people think podcasts about work 316 00:13:04,000 --> 00:13:07,920 Speaker 2: are boring, and sure they definitely can be, but understanding 317 00:13:07,960 --> 00:13:10,959 Speaker 2: a professionals routine shows us how they achieve their success 318 00:13:11,040 --> 00:13:15,160 Speaker 2: little by little, day after day. It's like banking with 319 00:13:15,240 --> 00:13:17,839 Speaker 2: P and C Bank. 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To see how Square can transform your business, 341 00:14:32,480 --> 00:14:37,120 Speaker 2: visit Square dot com backslash go backslash eyl to learn 342 00:14:37,160 --> 00:14:42,360 Speaker 2: more that Square dot com backslash, go backslash eyl. Don't wait, 343 00:14:42,640 --> 00:14:45,480 Speaker 2: don't hesitate. Let's Square handle the back end so you 344 00:14:45,520 --> 00:14:47,160 Speaker 2: can keep pushing your vision forward. 345 00:14:49,360 --> 00:14:53,040 Speaker 7: An illegal alien from Guatemala charged with raping a child 346 00:14:53,080 --> 00:14:56,880 Speaker 7: in Massachusetts. An MS thirteen gang member from El Salvador 347 00:14:57,120 --> 00:15:01,760 Speaker 7: accused of murdering a Texas man. Suwalen charged with filming 348 00:15:01,800 --> 00:15:05,600 Speaker 7: and selling child pornography in Michigan. These are just some 349 00:15:05,720 --> 00:15:09,560 Speaker 7: of the heinous migrant criminals caught because of President Donald J. 350 00:15:09,640 --> 00:15:13,400 Speaker 7: Trump's leadership. I'm Christy Noman, the United States Secretary of 351 00:15:13,440 --> 00:15:18,240 Speaker 7: Homeland Security. Under President Trump, attempted illegal border crossings are 352 00:15:18,280 --> 00:15:21,680 Speaker 7: at the lowest levels ever recorded, and over one hundred 353 00:15:21,720 --> 00:15:25,600 Speaker 7: thousand illegal aliens have been arrested. If you are here illegally, 354 00:15:26,080 --> 00:15:29,440 Speaker 7: your next you will be fined nearly one thousand dollars 355 00:15:29,440 --> 00:15:33,600 Speaker 7: a day, imprisoned, and deported. You will never return. But 356 00:15:33,640 --> 00:15:37,200 Speaker 7: if you register using our CBP home app and leave now, 357 00:15:37,560 --> 00:15:40,680 Speaker 7: you could be allowed to return legally. Do what's right, 358 00:15:41,240 --> 00:15:46,200 Speaker 7: leave now. Under President Trump, America's laws border and families 359 00:15:46,400 --> 00:15:47,240 Speaker 7: will be protected. 360 00:15:47,320 --> 00:15:49,280 Speaker 2: Sponsored by the United States Department of Homeland. 361 00:15:49,080 --> 00:15:52,840 Speaker 5: Security highlights some different professionals in different areas of the country, 362 00:15:53,120 --> 00:15:55,320 Speaker 5: especially the law thing, because that's something that you know, 363 00:15:55,880 --> 00:15:58,040 Speaker 5: you depending on what state you live in, you got 364 00:15:58,080 --> 00:16:01,080 Speaker 5: to really use the lawyer as practicing in your state, 365 00:16:01,120 --> 00:16:02,760 Speaker 5: and that could become a little tricky if you live 366 00:16:02,800 --> 00:16:05,000 Speaker 5: in states that you know, we haven't really featured lawyers 367 00:16:05,040 --> 00:16:08,360 Speaker 5: in that state. So okay, yeah, the legal Club, we 368 00:16:08,360 --> 00:16:10,600 Speaker 5: have a legal club actually, so maybe that's something that 369 00:16:10,640 --> 00:16:13,720 Speaker 5: the Legal Club can can can can do. 370 00:16:14,480 --> 00:16:16,960 Speaker 6: And one more quick question I remember you were saying 371 00:16:17,040 --> 00:16:18,920 Speaker 6: that I can I think it was thirteen or fourteen. 372 00:16:18,920 --> 00:16:23,520 Speaker 6: You should put six thousand in a IRA for your child? 373 00:16:23,600 --> 00:16:26,000 Speaker 6: Is that in it? It could be an estimate. I 374 00:16:26,000 --> 00:16:29,200 Speaker 6: think y'all was saying one million. Is that six thousand 375 00:16:29,200 --> 00:16:32,560 Speaker 6: and four when she's fourteen or six thousand every year 376 00:16:32,600 --> 00:16:34,920 Speaker 6: would equate to the estimate. 377 00:16:35,200 --> 00:16:37,080 Speaker 5: Yeah, So what I did when I thought I was 378 00:16:37,080 --> 00:16:38,400 Speaker 5: on a breakfast club when I was, I said that 379 00:16:38,440 --> 00:16:40,800 Speaker 5: a while ago. I was using an example like if 380 00:16:40,800 --> 00:16:44,160 Speaker 5: you put six thousand a year, and from I believe 381 00:16:44,160 --> 00:16:46,360 Speaker 5: it was like the example that I gave was like 382 00:16:46,400 --> 00:16:50,160 Speaker 5: from fourteen to twenty I believe like from fourteen to twenty, 383 00:16:50,320 --> 00:16:52,880 Speaker 5: and I just used a hypothetical like if it earned 384 00:16:52,920 --> 00:16:55,320 Speaker 5: temper cent, I use like QQQ, which you know has 385 00:16:55,360 --> 00:16:57,680 Speaker 5: averaged more than ten percent over the last twenty years. 386 00:16:57,680 --> 00:16:59,240 Speaker 5: But I'm like, all right, if you earned like ten 387 00:16:59,280 --> 00:17:02,520 Speaker 5: percent a year by the time there's sixty, then they 388 00:17:02,520 --> 00:17:05,280 Speaker 5: will have a million dollars. So obviously you know it's 389 00:17:05,440 --> 00:17:08,280 Speaker 5: it's not like one hundred percent guarantee because it depends 390 00:17:08,320 --> 00:17:10,399 Speaker 5: on the market. But that was an example that I 391 00:17:10,440 --> 00:17:12,359 Speaker 5: had gave is to kind of illustrate the power of 392 00:17:12,400 --> 00:17:14,320 Speaker 5: investing early because if you think about it, even if 393 00:17:14,359 --> 00:17:16,200 Speaker 5: it's not six thousand whatever, you can do, but that's 394 00:17:16,320 --> 00:17:18,800 Speaker 5: only like four years or you know, six years of investing, 395 00:17:19,840 --> 00:17:22,840 Speaker 5: and you know, just by the compounding interest and leaving 396 00:17:22,840 --> 00:17:24,840 Speaker 5: it in for such a long period of time, than 397 00:17:24,880 --> 00:17:26,840 Speaker 5: that equals a million dollars without even having to put 398 00:17:26,840 --> 00:17:29,080 Speaker 5: any more money in after the age of twenty. So 399 00:17:29,520 --> 00:17:31,840 Speaker 5: you know, that was just an example of you know, 400 00:17:31,880 --> 00:17:34,639 Speaker 5: the power of compounding interest. And you definitely and I 401 00:17:34,640 --> 00:17:36,400 Speaker 5: think the example that actually gave us with the raw 402 00:17:36,440 --> 00:17:38,200 Speaker 5: fire and the raw Fire ray is even better for 403 00:17:38,320 --> 00:17:41,080 Speaker 5: kids because they don't pay any taxes or when they 404 00:17:41,080 --> 00:17:43,360 Speaker 5: take the money out. So now you set up there, 405 00:17:43,520 --> 00:17:45,840 Speaker 5: you set up their retirement account when they're young, and 406 00:17:46,440 --> 00:17:48,800 Speaker 5: you know, by the time they get they get to retirement, 407 00:17:48,920 --> 00:17:50,720 Speaker 5: they're gonna have They're gonna have, you know, a tremendous 408 00:17:50,760 --> 00:17:52,880 Speaker 5: amount of money just by the money that was set 409 00:17:52,920 --> 00:17:55,439 Speaker 5: up for them, you know, while they were teenagers, and 410 00:17:55,480 --> 00:17:57,440 Speaker 5: that had nothing to do with you know, their own 411 00:17:57,520 --> 00:17:59,600 Speaker 5: fall one cage or their own iras when they get 412 00:17:59,640 --> 00:18:02,280 Speaker 5: older to set it up for themselves. So that's definitely 413 00:18:02,320 --> 00:18:05,879 Speaker 5: a strategy that parents can use for their children whenever 414 00:18:05,880 --> 00:18:09,480 Speaker 5: they turn legal working age. And the rule is you 415 00:18:09,480 --> 00:18:11,920 Speaker 5: can put up you could put up to well, six 416 00:18:11,960 --> 00:18:13,560 Speaker 5: thousand is the max, but you can put up to 417 00:18:13,600 --> 00:18:16,160 Speaker 5: whatever the child made, Like if they have a part 418 00:18:16,200 --> 00:18:18,359 Speaker 5: time job, and let's say they made like three thousand 419 00:18:18,440 --> 00:18:20,520 Speaker 5: dollars for the year, and you can put up to 420 00:18:20,640 --> 00:18:23,320 Speaker 5: you know, three thousand dollars, but it's not unreasonable to 421 00:18:23,320 --> 00:18:25,400 Speaker 5: have six thousand dollars because it's like if they work 422 00:18:25,560 --> 00:18:27,200 Speaker 5: like CVS or something like that, you know, they make 423 00:18:27,200 --> 00:18:30,200 Speaker 5: five hundred dollars a month, that's six thousand dollars a year, 424 00:18:30,280 --> 00:18:32,320 Speaker 5: So five hundred dollars a month, that's not really a 425 00:18:32,320 --> 00:18:34,440 Speaker 5: lot for a part time job, so you know, and 426 00:18:34,480 --> 00:18:37,359 Speaker 5: then if you're self employed, it's even better because if 427 00:18:37,359 --> 00:18:39,760 Speaker 5: you're self employed, then you can hire your child and 428 00:18:39,840 --> 00:18:42,560 Speaker 5: you can pay them, and when you pay them, you 429 00:18:42,640 --> 00:18:45,120 Speaker 5: get a tax deduction for the money that you paid them, 430 00:18:45,480 --> 00:18:48,119 Speaker 5: and then that money you can put into the rough 431 00:18:48,160 --> 00:18:50,760 Speaker 5: IRA or IRA for your child. So that's like a 432 00:18:50,760 --> 00:18:53,119 Speaker 5: double eds sor because now you're actually saving money on 433 00:18:53,240 --> 00:18:56,600 Speaker 5: taxes and your child is working for you and you 434 00:18:56,640 --> 00:18:58,800 Speaker 5: get to save money for their retirement. So a lot 435 00:18:58,840 --> 00:19:00,560 Speaker 5: of different things that you can do with that. But yeah, 436 00:19:00,600 --> 00:19:02,879 Speaker 5: that's some different ideas for sure. So as far as 437 00:19:02,880 --> 00:19:05,040 Speaker 5: the investment side, Yeah, the dollar cost average, I think 438 00:19:05,040 --> 00:19:06,760 Speaker 5: you had talked about that. That's a great way to 439 00:19:06,840 --> 00:19:08,919 Speaker 5: start if you you know, it sounds like you started 440 00:19:08,920 --> 00:19:11,240 Speaker 5: something with the retirement with the row. But I don't 441 00:19:11,240 --> 00:19:13,080 Speaker 5: know if you have a brokerage account. But if you 442 00:19:13,119 --> 00:19:16,359 Speaker 5: don't open a brokerage account, a non retirement brokerage account, 443 00:19:16,400 --> 00:19:19,119 Speaker 5: so that's Monday that is not tied to your retirement, 444 00:19:19,280 --> 00:19:21,520 Speaker 5: you can invest in that every single month. You spoke 445 00:19:21,520 --> 00:19:24,640 Speaker 5: about Lawrence's class, so I'm assuming that you've been You've 446 00:19:24,680 --> 00:19:26,119 Speaker 5: been tapped in with that. So that's great as far 447 00:19:26,119 --> 00:19:27,520 Speaker 5: as you talk about investing, and then of course we 448 00:19:27,560 --> 00:19:29,800 Speaker 5: talk about investing every Monday with Market Monday, so you know, 449 00:19:29,840 --> 00:19:32,159 Speaker 5: we talk about the ets, the index funds, all that stuff. 450 00:19:32,160 --> 00:19:33,960 Speaker 5: So you can pick a couple of stocks funds that 451 00:19:34,000 --> 00:19:35,840 Speaker 5: you feel comfortable with and start putting money in every 452 00:19:35,840 --> 00:19:37,920 Speaker 5: single month. That's one way to just get the ball 453 00:19:38,040 --> 00:19:41,640 Speaker 5: rolling and you know, get into the actual investment game 454 00:19:41,640 --> 00:19:44,600 Speaker 5: where you're putting money away over the consistent period of time. Now, 455 00:19:44,680 --> 00:19:48,800 Speaker 5: as far as the pilot situation, obviously from what you're saying, 456 00:19:48,840 --> 00:19:51,640 Speaker 5: that's a little bit more capital a lot more capital intensive, 457 00:19:51,720 --> 00:19:55,840 Speaker 5: So it probably would be difficult to self praise or 458 00:19:55,880 --> 00:19:59,359 Speaker 5: self fund that type of project. Me personally, I'm real 459 00:19:59,400 --> 00:20:01,640 Speaker 5: big on collabor operation. That's something that you know we've 460 00:20:01,680 --> 00:20:04,160 Speaker 5: practiced and we still do to this day, is collaborate 461 00:20:04,200 --> 00:20:07,200 Speaker 5: with different people. And I just personally feel like, you know, 462 00:20:07,240 --> 00:20:09,640 Speaker 5: you can do a lot more together than you can separate. 463 00:20:09,840 --> 00:20:12,840 Speaker 5: And even if that means, you know, working with other 464 00:20:12,880 --> 00:20:15,040 Speaker 5: people for equity, like in giving up equity, like it's 465 00:20:15,080 --> 00:20:17,399 Speaker 5: not wrong with giving upity, Like we have given up 466 00:20:17,400 --> 00:20:21,080 Speaker 5: equity and our third partner, Mike, he's a childhood friend 467 00:20:21,080 --> 00:20:22,920 Speaker 5: of ours, but when we brought them on, we didn't 468 00:20:22,960 --> 00:20:24,720 Speaker 5: have enough money to actually pay them, so we gave 469 00:20:24,800 --> 00:20:25,600 Speaker 5: him a part of the company. 470 00:20:25,600 --> 00:20:26,679 Speaker 4: Now he's our business partners. 471 00:20:26,680 --> 00:20:30,240 Speaker 5: So I think giving up ownership, giving up a portion 472 00:20:30,280 --> 00:20:32,440 Speaker 5: of equity and giving up ownership of two different things. 473 00:20:32,480 --> 00:20:35,400 Speaker 5: Giving up some equity can be a smart move if 474 00:20:35,440 --> 00:20:37,520 Speaker 5: somebody can add value. That's why you give up equity. 475 00:20:37,560 --> 00:20:40,160 Speaker 5: If you don't necessarily have the resources and you need 476 00:20:40,200 --> 00:20:43,240 Speaker 5: to bring somebody on. Now they can provide their talent, 477 00:20:43,400 --> 00:20:45,800 Speaker 5: their relationships, you know, whatever they can bring to the table, 478 00:20:46,200 --> 00:20:48,080 Speaker 5: and they're not working for money because now they're a 479 00:20:48,080 --> 00:20:49,399 Speaker 5: part owner in the company. 480 00:20:49,440 --> 00:20:52,600 Speaker 4: So the company's success is tied to their success. 481 00:20:52,600 --> 00:20:54,800 Speaker 5: So it's in their best interest for that company to 482 00:20:54,800 --> 00:20:56,800 Speaker 5: be successful because the more money that the company makes, 483 00:20:56,800 --> 00:20:58,399 Speaker 5: the more money that they make, as opposed to just 484 00:20:58,480 --> 00:21:01,760 Speaker 5: hiring an employee, and you know, if it's a good employee, 485 00:21:01,840 --> 00:21:03,760 Speaker 5: then you know they'll work is hard just because you 486 00:21:03,800 --> 00:21:06,159 Speaker 5: know that's what they're supposed to do. But obviously, you 487 00:21:06,200 --> 00:21:08,480 Speaker 5: know there's a lot of employees that don't care because 488 00:21:08,640 --> 00:21:10,960 Speaker 5: you know, it doesn't matter how well the company does 489 00:21:11,080 --> 00:21:12,720 Speaker 5: or you know, if they're still going to get paid 490 00:21:12,720 --> 00:21:15,359 Speaker 5: the same amount. So that's why the equity play is 491 00:21:15,400 --> 00:21:18,520 Speaker 5: not always a bad play. Partnerships are not always bad. 492 00:21:19,400 --> 00:21:21,399 Speaker 5: It's just a matter of just being intelligent about it, 493 00:21:21,520 --> 00:21:24,800 Speaker 5: keeping ownership, keeping you know, a majority state, things of 494 00:21:24,800 --> 00:21:27,399 Speaker 5: that nature. So I would approach it from that standpoint. 495 00:21:27,440 --> 00:21:29,720 Speaker 5: I would approach it from partnerships. Look to see, you say, 496 00:21:29,720 --> 00:21:31,439 Speaker 5: you've been in the industry for a long time, so 497 00:21:31,440 --> 00:21:33,199 Speaker 5: I'm sure you have a lot of great relationships with 498 00:21:33,240 --> 00:21:36,600 Speaker 5: different people, and you know, who knows who would want 499 00:21:36,600 --> 00:21:37,960 Speaker 5: to work with you, or who won't want to partner 500 00:21:38,000 --> 00:21:39,280 Speaker 5: with you, and different things. 501 00:21:39,400 --> 00:21:40,040 Speaker 4: Of that nature. 502 00:21:40,080 --> 00:21:42,399 Speaker 5: So that's how I would approach it, as opposed to 503 00:21:42,440 --> 00:21:44,560 Speaker 5: even thinking about funding it out of my own pocket 504 00:21:44,560 --> 00:21:47,040 Speaker 5: with that much capital. If it was less capital, but 505 00:21:47,160 --> 00:21:48,680 Speaker 5: if it's a lot, if it's gonna be real, real 506 00:21:48,720 --> 00:21:51,080 Speaker 5: capital intensive, then you know, you might want to go 507 00:21:51,280 --> 00:21:52,040 Speaker 5: a different route. 508 00:21:52,200 --> 00:21:55,440 Speaker 12: Okay, that's good though. That's the partnership is definitely something 509 00:21:55,480 --> 00:21:59,720 Speaker 12: that's been out there. It's just again really holding in 510 00:22:00,320 --> 00:22:03,240 Speaker 12: our owning in on the or honing in on the 511 00:22:03,280 --> 00:22:06,080 Speaker 12: ownership piece. We definitely want to be attachment. I'm pretty 512 00:22:06,080 --> 00:22:09,119 Speaker 12: sure you can tell, like sometimes people don't take you seriously, 513 00:22:09,440 --> 00:22:12,920 Speaker 12: but like I said, even with having the experience, it's 514 00:22:13,040 --> 00:22:15,040 Speaker 12: like that. But that was some good insight. Thank you 515 00:22:15,080 --> 00:22:16,760 Speaker 12: so much all r P. 516 00:22:16,960 --> 00:22:17,160 Speaker 1: Math. 517 00:22:17,240 --> 00:22:18,840 Speaker 9: We're coming to you and meet yourself please. 518 00:22:19,359 --> 00:22:20,440 Speaker 4: Yeah, what's going on? 519 00:22:20,560 --> 00:22:20,760 Speaker 5: Yeah? 520 00:22:20,880 --> 00:22:24,440 Speaker 8: Hey, okay, cool, cool, Hey. I just wanted to ask 521 00:22:25,080 --> 00:22:28,080 Speaker 8: a quick question. I'm sure it's been asked many times. 522 00:22:28,119 --> 00:22:29,960 Speaker 8: It's about four one k rollover. 523 00:22:30,640 --> 00:22:33,920 Speaker 3: My specific question is I have like three four one 524 00:22:34,000 --> 00:22:38,879 Speaker 3: case from the previous employers. I'm gonna roll like one 525 00:22:38,920 --> 00:22:41,520 Speaker 3: of the bigger ones into a new one. That I'm 526 00:22:41,560 --> 00:22:45,280 Speaker 3: participating that the employee is participating in. But then the 527 00:22:45,400 --> 00:22:49,959 Speaker 3: two smaller ones I want to be able to invest myself. 528 00:22:50,440 --> 00:22:52,280 Speaker 3: So just kind of to sum it up, I have 529 00:22:53,040 --> 00:22:55,480 Speaker 3: I had it with Fidelity. I'm going to entrust her 530 00:22:55,680 --> 00:22:59,040 Speaker 3: the lguit amount into a company named the Principal, and 531 00:22:59,119 --> 00:23:02,840 Speaker 3: I've always uh trade with TD. I had a brokege 532 00:23:02,840 --> 00:23:06,240 Speaker 3: account with excuse me, with Fidelity, but I'm I'm transferring. 533 00:23:06,359 --> 00:23:09,680 Speaker 3: I transferred those funds into TD because just what I've 534 00:23:09,760 --> 00:23:12,320 Speaker 3: heard is that it's it's it's more user friendly things 535 00:23:12,359 --> 00:23:17,080 Speaker 3: of that nature. Now my question is with the other 536 00:23:17,200 --> 00:23:19,920 Speaker 3: two smaller ones that I'm not going to transfer into 537 00:23:20,119 --> 00:23:25,040 Speaker 3: the the account that with that's with my employer. I 538 00:23:25,119 --> 00:23:28,960 Speaker 3: want to have a little bit of flexibility to to 539 00:23:29,280 --> 00:23:31,480 Speaker 3: to move those around. So I didn't know if I 540 00:23:31,520 --> 00:23:34,440 Speaker 3: should just keep the funds with Fidelity and have a 541 00:23:34,480 --> 00:23:37,800 Speaker 3: separate I R there, or transfer it into t D 542 00:23:37,880 --> 00:23:41,720 Speaker 3: where I have my brokerage account that way. You know, 543 00:23:42,080 --> 00:23:44,240 Speaker 3: I guess, I guess I'm a little confused on what's 544 00:23:44,280 --> 00:23:47,200 Speaker 3: the benefits of having it having an I R A 545 00:23:48,680 --> 00:23:51,439 Speaker 3: with a different company because the I'm not gonna put 546 00:23:51,480 --> 00:23:53,800 Speaker 3: it with the you know, I'm not trying. I'm trying 547 00:23:53,840 --> 00:23:56,359 Speaker 3: not to roll everything into my my four o K 548 00:23:56,840 --> 00:23:58,960 Speaker 3: four one K. I'm trying to make sure that I 549 00:23:59,040 --> 00:24:02,000 Speaker 3: have some flexibility to to move it around, you know, 550 00:24:02,119 --> 00:24:03,000 Speaker 3: as I feel fit. 551 00:24:03,200 --> 00:24:06,200 Speaker 5: So, yeah, your current four one k's with Fidelity, and 552 00:24:06,320 --> 00:24:08,800 Speaker 5: you're debating whether you should roll into an IRA with 553 00:24:08,920 --> 00:24:10,360 Speaker 5: Fidelity or I RA with TD? 554 00:24:10,680 --> 00:24:11,600 Speaker 4: Is that the question? 555 00:24:12,720 --> 00:24:15,800 Speaker 8: So it's actually with a different So my current four 556 00:24:15,920 --> 00:24:18,440 Speaker 8: one K, I'm transferring. 557 00:24:17,920 --> 00:24:19,560 Speaker 4: Your old your old one K. 558 00:24:19,880 --> 00:24:22,040 Speaker 8: Yeah, the old one side. The old one was with Fidelity. 559 00:24:22,840 --> 00:24:25,560 Speaker 8: So I'm transferring the old ones. Two of one of 560 00:24:25,600 --> 00:24:28,320 Speaker 8: the old ones the larger amount to one that my 561 00:24:28,800 --> 00:24:31,920 Speaker 8: employe is participating. And that's called the principle. So I'm 562 00:24:31,960 --> 00:24:34,520 Speaker 8: already just that's that's kind of just out out there. 563 00:24:34,640 --> 00:24:36,800 Speaker 8: I'm gonna just put the bigger one into the one 564 00:24:36,840 --> 00:24:39,320 Speaker 8: that they're contributing to. But the two smaller ones that 565 00:24:39,359 --> 00:24:42,280 Speaker 8: I have with Fidelity, I was gonna, I guess I'm 566 00:24:42,320 --> 00:24:45,520 Speaker 8: trying to figure out if it makes sense to transferred 567 00:24:45,560 --> 00:24:48,040 Speaker 8: over to TD since I'm kind of that's where my 568 00:24:48,080 --> 00:24:50,920 Speaker 8: brokenge account is, my individual Brokene account. That way I 569 00:24:50,960 --> 00:24:53,920 Speaker 8: could kind of line things up. That's that's what I'm thinking. 570 00:24:54,400 --> 00:24:57,040 Speaker 3: Or I don't even know if there's any benefit of 571 00:24:57,240 --> 00:25:00,520 Speaker 3: just having it transfer, taking that for one K and 572 00:25:00,600 --> 00:25:05,120 Speaker 3: turning it into a rayah Ira with UH with Fidelity 573 00:25:05,160 --> 00:25:06,520 Speaker 3: and just keeping it where it is. 574 00:25:07,040 --> 00:25:08,879 Speaker 5: Yeah, I think it just depends on whichever one you 575 00:25:08,920 --> 00:25:12,240 Speaker 5: feel comfortable with, right, Like I mean, Fidelity TD. They're 576 00:25:12,240 --> 00:25:15,680 Speaker 5: both good companies, They're both, you know, very similar. I 577 00:25:15,880 --> 00:25:17,359 Speaker 5: personally like TD a little bit. 578 00:25:17,359 --> 00:25:17,800 Speaker 4: I have both. 579 00:25:17,800 --> 00:25:20,359 Speaker 5: I have FIDELLITI and TV TD. I like TD a 580 00:25:20,359 --> 00:25:22,720 Speaker 5: little better because it just has a better user interface 581 00:25:22,920 --> 00:25:26,200 Speaker 5: in my opinion. But I mean it's not like one 582 00:25:26,320 --> 00:25:28,360 Speaker 5: is dramatically better than the others. So I guess it's 583 00:25:28,400 --> 00:25:30,199 Speaker 5: just whatever you feel comfortable with. But you can roll 584 00:25:30,280 --> 00:25:32,680 Speaker 5: it over into it a Fidelity I RA and you know, 585 00:25:33,280 --> 00:25:35,520 Speaker 5: have you know control over it, and you know, pick 586 00:25:35,560 --> 00:25:37,200 Speaker 5: the investments that you want, or you can roll it 587 00:25:37,200 --> 00:25:38,840 Speaker 5: over into a t D I RA and have control 588 00:25:38,880 --> 00:25:40,720 Speaker 5: over and pick the investments that you want. So it 589 00:25:40,800 --> 00:25:43,080 Speaker 5: really just depends, honestly. I mean, that's that's just up 590 00:25:43,119 --> 00:25:46,480 Speaker 5: to you, like whatever whichever one you feel most comfortable with. 591 00:25:47,160 --> 00:25:49,280 Speaker 5: Like I said, me, personally, I just like TD. I 592 00:25:49,440 --> 00:25:51,480 Speaker 5: like TD better than fidelity because I just feel like 593 00:25:51,520 --> 00:25:52,840 Speaker 5: it has a better user interface. 594 00:25:52,880 --> 00:25:56,800 Speaker 4: And yeah, so that's not true that that's my personal opinion. 595 00:25:56,920 --> 00:25:58,800 Speaker 5: So you know, but you can you can do either 596 00:25:58,920 --> 00:26:02,440 Speaker 5: or I mean there's really no no dramatic difference from 597 00:26:02,520 --> 00:26:03,320 Speaker 5: one then the other. 598 00:26:03,400 --> 00:26:04,280 Speaker 4: Yea you similar? 599 00:26:04,480 --> 00:26:05,119 Speaker 8: Okay, all right? 600 00:26:05,160 --> 00:26:07,639 Speaker 3: And just the last thing on that on that no 601 00:26:07,760 --> 00:26:10,680 Speaker 3: matter where I go to transfer it, changing that four 602 00:26:10,760 --> 00:26:14,000 Speaker 3: one K into an IRA, what's really the benefits of 603 00:26:14,240 --> 00:26:18,240 Speaker 3: the IRA? When I'm am I able to move things 604 00:26:18,359 --> 00:26:21,000 Speaker 3: around as I feel like, So I know I can't 605 00:26:21,040 --> 00:26:23,359 Speaker 3: do that with the four one K. So I'm assuming 606 00:26:23,400 --> 00:26:25,680 Speaker 3: that's just the only benefit is the flexibility? 607 00:26:25,760 --> 00:26:28,800 Speaker 5: Right, Well, a full one K it's pretty much like 608 00:26:28,880 --> 00:26:30,800 Speaker 5: frozen in the sense when you're not working it anymore, 609 00:26:30,880 --> 00:26:33,440 Speaker 5: not frozen, wight, it's not growing. But when you when 610 00:26:33,440 --> 00:26:35,520 Speaker 5: you leave a job, you can't add money to your 611 00:26:35,560 --> 00:26:38,159 Speaker 5: fall one K anymore, you can't ball from it, you 612 00:26:38,280 --> 00:26:41,399 Speaker 5: don't have any like advice, and you're stuck with the 613 00:26:41,480 --> 00:26:43,639 Speaker 5: investments that's provided for you from the four one K. 614 00:26:43,760 --> 00:26:46,119 Speaker 5: So fall one K has like a menu of different 615 00:26:46,200 --> 00:26:48,800 Speaker 5: options like they have like let's say fifteen different funds 616 00:26:48,840 --> 00:26:50,479 Speaker 5: that you can pick and choose from but you can 617 00:26:50,560 --> 00:26:54,159 Speaker 5: only invest in those funds. So with an IRA, you 618 00:26:54,280 --> 00:26:56,280 Speaker 5: get to pick and choose the funds that you that 619 00:26:56,400 --> 00:26:59,359 Speaker 5: you want, right. You can add you can add money 620 00:26:59,400 --> 00:27:01,720 Speaker 5: to it, like let's say going forward, like you start 621 00:27:01,760 --> 00:27:03,920 Speaker 5: a business, or your job doesn't have a four one K, 622 00:27:03,960 --> 00:27:05,440 Speaker 5: your new job doesn't have a four one K, or 623 00:27:05,680 --> 00:27:08,400 Speaker 5: you can always add money to an IRA. IRA also 624 00:27:08,480 --> 00:27:10,399 Speaker 5: can serve as like a central hub where you know, 625 00:27:10,520 --> 00:27:13,280 Speaker 5: you might leave multiple different jobs throughout the course of 626 00:27:13,359 --> 00:27:15,600 Speaker 5: your life and you might have like six different four 627 00:27:15,680 --> 00:27:17,760 Speaker 5: one k that that becomes a little difficult to manage, 628 00:27:17,800 --> 00:27:20,200 Speaker 5: but you can always roll those four one ks into 629 00:27:20,320 --> 00:27:22,880 Speaker 5: an IRA and have that as like the central hub 630 00:27:23,000 --> 00:27:24,240 Speaker 5: for all of your old four one k. 631 00:27:24,520 --> 00:27:28,280 Speaker 4: So in a nutshell, it just gives you more flexibility. 632 00:27:29,320 --> 00:27:31,560 Speaker 5: Gives you more flexibility as far as you know, being 633 00:27:31,600 --> 00:27:34,800 Speaker 5: able to pick and choose your investments and you know, 634 00:27:35,359 --> 00:27:37,520 Speaker 5: actually being able to put money into it as well, 635 00:27:37,680 --> 00:27:40,479 Speaker 5: so those you don't have once you leave the company 636 00:27:40,840 --> 00:27:42,920 Speaker 5: with an old four to one K. So that's really 637 00:27:43,000 --> 00:27:45,359 Speaker 5: the benefit with the IRA as opposed to keeping the 638 00:27:45,440 --> 00:27:47,200 Speaker 5: money in the old for for oh one k. 639 00:27:47,520 --> 00:27:48,480 Speaker 8: All right, sounds good. 640 00:27:48,520 --> 00:27:49,119 Speaker 3: I appreciate it. 641 00:27:49,240 --> 00:27:50,240 Speaker 9: Man Andrew. 642 00:27:50,240 --> 00:27:52,800 Speaker 4: You are coming to you and yourself with and somebody 643 00:27:52,840 --> 00:27:54,159 Speaker 4: saying a shot. You can't access them. 644 00:27:54,280 --> 00:27:54,680 Speaker 10: You can't. 645 00:27:54,720 --> 00:27:57,359 Speaker 5: You can't access the IRA. You just pay penalty on it, 646 00:27:57,520 --> 00:27:59,840 Speaker 5: just like a four to one K. If you have 647 00:28:00,119 --> 00:28:02,080 Speaker 5: an all four one K and you took the money 648 00:28:02,119 --> 00:28:04,480 Speaker 5: out before fifty nine and a half, you pay a 649 00:28:04,520 --> 00:28:06,720 Speaker 5: penalty on it. But there are some provisions where you 650 00:28:06,760 --> 00:28:09,359 Speaker 5: can actually take some money out of without paying the 651 00:28:09,480 --> 00:28:10,200 Speaker 5: penalty tax. 652 00:28:10,280 --> 00:28:12,639 Speaker 4: But you always pay state and federal tax on an 653 00:28:12,720 --> 00:28:15,560 Speaker 4: IRA or a fall one K, so they're both the same. 654 00:28:16,040 --> 00:28:19,680 Speaker 4: I mean that regards behind those warm and cozy nights 655 00:28:19,720 --> 00:28:22,880 Speaker 4: at home. Thousands of employees at BP go to work 656 00:28:23,000 --> 00:28:23,600 Speaker 4: every day. 657 00:28:24,080 --> 00:28:27,800 Speaker 5: People producing more US natural gas, people building grid scale 658 00:28:27,840 --> 00:28:32,479 Speaker 5: solar capacity, people turning landfill waste gas into pipeline quality 659 00:28:32,600 --> 00:28:36,320 Speaker 5: renewable natural gas, and people delivering all of that power 660 00:28:36,560 --> 00:28:39,640 Speaker 5: where it's needed. They're part of almost three hundred thousand 661 00:28:39,720 --> 00:28:42,120 Speaker 5: jobs VP supports across the country. 662 00:28:42,800 --> 00:28:44,080 Speaker 1: Learn more at VP dot com. 663 00:28:44,320 --> 00:28:46,080 Speaker 4: Slash Investing in America