Speaker 1: Coach, the energy out there felt different. What changed for
Speaker 1: the team today?
Speaker 2: It was the new game day scratches from the California
Speaker 2: Lottery players.
Speaker 3: Everything.
Speaker 4: Those games sent the team's energy through the roof.
Speaker 1: Are you saying it was the off field play that
Speaker 1: made the difference on the field.
Speaker 5: Hey, little play makes your day, and today it made
Speaker 5: the game.
Speaker 6: That's all for now, coach, one more question play than
Speaker 6: New Los Angeles Chargers, San Francisco forty nine ers and
Speaker 6: Los Angeles ram scratchers from the California Lottery.
Speaker 4: A little play can make your day. Peace made responsibily.
Speaker 7: It must be eighteen years or older to purchase late
Speaker 7: or claim.
Speaker 5: What would be a good percentage to use, you know,
Speaker 5: so that way I can just keep the same number
Speaker 5: going in there all the time. Yeah, you know, I
Speaker 5: don't really like percentages too much. I like actual numbers
Speaker 5: because I could say, like I could say like ten percent,
Speaker 5: fifteen percent, but it really just depends on your situation.
Speaker 5: So I always try to look at like discretionary income,
Speaker 5: so like how much money is left over at the
Speaker 5: end of the month. So that's the first Like first
Speaker 5: we got to see, like how much money is left
Speaker 5: over at the end of the month, right, So it's
Speaker 5: like one of two things is happening. And this is
Speaker 5: just like broad range statement. Either you have money left
Speaker 5: over at the end of the month where you don't,
Speaker 5: or you're running in a deficit. So if you have
Speaker 5: money left over, you got to see how much money
Speaker 5: you have left over. So if it's like, Okay, I
Speaker 5: have a thousand dollars left over after all my bills
Speaker 5: are paid, after you know, I have some fun every
Speaker 5: single month, I have at least a thousand dollars left over, right,
Speaker 5: So just using that that number, I personally would probably
Speaker 5: do somewhere along the lines of like putting thirty percent
Speaker 5: of that money into like savings until you have you know,
Speaker 5: six to twelve months of savings, because that's important, and
Speaker 5: then I probably would look to invest thirty percent though
Speaker 5: now that's like sixty percent of the money right there,
Speaker 5: and then maybe you know, twenty percent would go to
Speaker 5: you know, a kid's account, twenty to fifteen percent or
Speaker 5: go to the kid's account, and then the left the
Speaker 5: rest is just kind of left for like miscellaneous. So
Speaker 5: that's what I would kind of go by more so
Speaker 5: than like, you know, just a percent of like your
Speaker 5: total income, because I could say ten percent of your income,
Speaker 5: but if that might be too much, so it's really
Speaker 5: more of a percentage of your discretionary income, and the
Speaker 5: discretionary income I would say probably like twenty twenty to
Speaker 5: fifteen percent of discretionary income that you can afford to
Speaker 5: you know, put away.
Speaker 8: Okay, thank you. I appreciate that man that helped me
Speaker 8: out a lot.
Speaker 4: No, no problem, brother, you have a good one, all.
Speaker 9: Right, Tyran, We're coming to you on meet yourself please.
Speaker 10: Hell, I'm good at eurosage.
Speaker 4: I'm good, I'm good.
Speaker 11: I have a question, what are the disadvantage of an escort?
Speaker 11: I kind of think I know a little bit about
Speaker 11: the advantages in compassing to an LLC, but what are
Speaker 11: the disadvantage of an escort?
Speaker 5: It's more structured. I think this business had actually told
Speaker 5: a class about this. But you have to pay yourself
Speaker 5: a salary, so especially like if you're not making you
Speaker 5: know that much money, or if the business is just
Speaker 5: starting out, it could be kind of pressure on you
Speaker 5: to you know, have payroll. So that's something that you know,
Speaker 5: definitely could take into consideration. Like I forgot the number
Speaker 5: that she said, but I think it's like one hundred
Speaker 5: thousand dollars something like that. You should be making like
Speaker 5: one hundred thousand dollars in your business before you go
Speaker 5: to es coop route, because yeah, it's definitely it's definitely
Speaker 5: a lot more structure. But off the top of my head,
Speaker 5: I would I would think that that would be something
Speaker 5: that you know, you just definitely have to consider because
Speaker 5: you definitely have to put yourself on payroll and.
Speaker 4: You know, we as like a regular LLC.
Speaker 5: You could just you know, not pay yourself a month,
Speaker 5: two months whatever if not no money's coming in or
Speaker 5: you just want to just you know, you're real within
Speaker 5: that month.
Speaker 4: So that's something that's taking to consideration.
Speaker 5: Especially a lot of businesses, especially when they first start,
Speaker 5: cash flow is very up and down. So you know,
Speaker 5: if your cash flow is up and down, you want
Speaker 5: to make sure you getting to a point where you
Speaker 5: have some level of consistent cash flow.
Speaker 4: First.
Speaker 10: Okay, thanks very much, that answered the question.
Speaker 9: Thanks all right, all right, we're coming to you on yourself.
Speaker 10: Please all right, good morning, thanks for coming. My question
Speaker 10: is I got to question. My first question is let's say,
Speaker 10: like example, like I have a mortgage that I was
Speaker 10: trying to pay early, be like within seven to ten years.
Speaker 10: And also let's say if I have some money that's
Speaker 10: coming in. Let's see, like if I have like probably
Speaker 10: like two to five thousand, so like, should I put
Speaker 10: it in the market? Even I do have automatic payment,
Speaker 10: that's that's contribution that I make every month for my
Speaker 10: investment on the stock market and crypto and stuff like that.
Speaker 10: So should I keep the best thing is for me
Speaker 10: to do, Should I like put that money in the
Speaker 10: stock market or should I put it to my mortgage?
Speaker 10: Even like in the future, I want to like to
Speaker 10: invest more and and and real estate. So what's what's
Speaker 10: where will be?
Speaker 6: Uh?
Speaker 5: Yes, but what we suggest, I mean I think you
Speaker 5: could do both. I don't think I don't think it
Speaker 5: has to be a one or the other situation. You know,
Speaker 5: you want to see what's most what's most important, it's
Speaker 5: paid off your house more important? Or do you think
Speaker 5: you can get a better return to the stock market,
Speaker 5: And especially if you got a low interest rate, it
Speaker 5: might be more advantageous to put the money into the
Speaker 5: market because you know your opportunity costs is probably greater
Speaker 5: investing in the stock market.
Speaker 4: But that doesn't necessarily mean.
Speaker 5: That you can't do both, So you know you could, uh,
Speaker 5: maybe if instead of if you were going to put
Speaker 5: two thousand dollars a month into pay into your mortgage
Speaker 5: to pay it off, you know, a lot quicker, maybe.
Speaker 4: You put five hundred dollars a both.
Speaker 5: Right, you know that's still going to add up over
Speaker 5: the course of the year, and you know you can
Speaker 5: still knock off years of paying off your mortgage. So
Speaker 5: I would I always say, you know, see what's most
Speaker 5: important to you. But you can definitely do both, especially
Speaker 5: with that with that amount of money. It's not like
Speaker 5: it's you know, a couple of hundred, couple of thousand.
Speaker 5: You can definitely, you know, allocate money to both of them.
Speaker 5: But the opportunity cost will probably be better investing in the
Speaker 5: stock market. But I also understand, you know, if you
Speaker 5: don't want to have the mortgage forever and you want
Speaker 5: to pay off the property sooner, so you know, maybe
Speaker 5: maybe you just do some calculations and see how that
Speaker 5: will work out if you if you did it for
Speaker 5: just a little bit less money than you would have
Speaker 5: done originally.
Speaker 10: My other question is, what what does the difference between
Speaker 10: like QQQ and qqq M.
Speaker 4: You broke up a little bit.
Speaker 10: What you say was the difference between like QQQ and
Speaker 10: qqq M.
Speaker 5: I think qqq M, Troy, I know the cute to
Speaker 5: t but let me make sure I get a right
Speaker 5: information on that.
Speaker 10: I think it's a mini QQQ, but I would I
Speaker 10: would like to know if there's a difference, like from
Speaker 10: the percentage of return or the amount of stack that
Speaker 10: that that they invest in. Was that one is around
Speaker 10: like three something and then the QQM is on like
Speaker 10: one something.
Speaker 5: Yeah, let me let me look, let me look, I
Speaker 5: have Troy doing research on it. Get back to you
Speaker 5: on that.
Speaker 10: Okay, thank you appreciate it. And also for form irate
Speaker 10: rough area for kids, so like do they have to
Speaker 10: be a certain age for to start a rough area
Speaker 10: for kids?
Speaker 5: Yeah, yeah, they have to be well yes or no,
Speaker 5: they have to if you're doing it.
Speaker 4: If you're not self.
Speaker 5: Employed, then they have to be a working age, like
Speaker 5: they have to have a job. The working the age
Speaker 5: depends on what state you live in. But as long
Speaker 5: as they have working papers and they have a job
Speaker 5: and they actually have to be working, that's another thing.
Speaker 4: So as soon as they're able to work, you can
Speaker 4: do it.
Speaker 5: But if you're self employed, it's a little different because
Speaker 5: you can actually hire your child before they legally have
Speaker 5: like working papers, as long as they're actually working and
Speaker 5: they can actually do a job. So obviously, like you
Speaker 5: can't hire a two year old, but like if you
Speaker 5: have like somebody that's like ten or eleven years old
Speaker 5: and they're actually doing you just have to be able
Speaker 5: to justify it in case you have to get audited.
Speaker 5: But you have more flexibility and you can hire younger
Speaker 5: if you're self employed. But if the child is working
Speaker 5: just a regular job whenever, if they work a job,
Speaker 5: then they could you could put money into the IRA.
Speaker 10: It's so basically you cannot do it in the course
Speaker 10: your account for the IRA.
Speaker 5: Yeah yeah, no, it's it's a custodial account. It's just
Speaker 5: a it's a royal IRA. Still you still you're still
Speaker 5: like the child is still a minor. The child's still
Speaker 5: a minor, so it's not like you know, you got
Speaker 5: to set it up for them and you put the
Speaker 5: money in. But you know, you can have a custodio
Speaker 5: account where it's just in the market and there's no
Speaker 5: retirement account attached to it, or it's the retirement account
Speaker 5: but it's still it's still a Custudio account.
Speaker 1: Good morning, Good morning, so thank you for coming on
Speaker 1: the call even though you're not feeling well. That's right,
Speaker 1: nice of you. And congratulations with the Steve Harvey interview.
Speaker 1: It was really really well done. It was great. So
Speaker 1: you guys must feel so proud of yourselves right now,
Speaker 1: So thanks a lot for that as well. My question
Speaker 1: is about my TDA. I am a teacher in New
Speaker 1: York City and I have about ten more years left
Speaker 1: till I retire, so right now I have They let
Speaker 1: you split up your TDA, your tax defer annuity into
Speaker 1: diversified and fixed. So I believe I've always had it
Speaker 1: like eighty twenty, but I just realized that the diversified
Speaker 1: has options and I didn't know that. So there's like
Speaker 1: a bunch of different options, and I just wanted to know,
Speaker 1: like how, like what's the best way to like pick
Speaker 1: between the different funds because they have like like three
Speaker 1: or four. There's like a sustainable one, there's an international one,
Speaker 1: Like do I just go by like the history or
Speaker 1: do you think it's better to just stay with like
Speaker 1: the one they recommend, which I think is just they
Speaker 1: call it like the diversified.
Speaker 5: It's always good to rule a thumb. You always want
Speaker 5: to look at rate of returns. That's something that's you know,
Speaker 5: a cheat code whenever you look at an investment, especially
Speaker 5: like four one K or any type of retirement plan investments,
Speaker 5: usually like they'll they'll give you a sheet and it'll
Speaker 5: have like, you know, the different funds, so it's like
Speaker 5: the stable fund, the growth fund, the international funds, and
Speaker 5: then they'll have like the year to date return, three
Speaker 5: year return, five year return, ten year return, census inception.
Speaker 5: What I like to do is look at the longest
Speaker 5: possible time frame, so like ten years or since its inception.
Speaker 5: Sometimes if it's new, it might not have a ten
Speaker 5: year track record. It might have like a five year
Speaker 5: or four year track record. But ye or to try
Speaker 5: to look at the long the longest possible time frame
Speaker 5: and see which one has usually performed for that. Usually,
Speaker 5: like I haven't really been a big fan on international funds.
Speaker 5: It's me personally, especially like in retirement accounts over the
Speaker 5: last like ten years, they haven't really done as good
Speaker 5: as like just international growth growth funds. So it really
Speaker 5: just depends on your risk tolerance. But you know, the
Speaker 5: growth growth funds is always going to something that's going
Speaker 5: to usually you know, be the best as far as
Speaker 5: growth over the course of time. That's like no more
Speaker 5: large cab companies. But the good thing And I don't
Speaker 5: know if they changed it, but I know a few
Speaker 5: years ago for the fixed account for the city, how
Speaker 5: much is the fixed account paign like percent something like that.
Speaker 1: It's it's seven point twenty five. When I started, it
Speaker 1: was eight point five or eight point two five, but
Speaker 1: then they lowered it to seven point two five, so
Speaker 1: I was able to get the eight percent like the
Speaker 1: first two or three years I started teaching. But now
Speaker 1: it's seven point twenty five, and like I have ten
Speaker 1: about ten more years left, so I have like twenty
Speaker 1: years already and I have ten more to go. But
Speaker 1: the sustainable index gives a greater return, but it's very new,
Speaker 1: so it's only like a few years old, so I'm like,
Speaker 1: is this should I trust that? And then they also
Speaker 1: say to like switch it right before you're about to retire,
Speaker 1: to just be in the fixed ones so you don't
Speaker 1: have to worry about like big issues with the market.
Speaker 12: Yeah.
Speaker 5: Well, the good thing with that is that that's pretty
Speaker 5: much I heard of to have a fix accoun that
Speaker 5: earns seven percent. So that is one thing that you know,
Speaker 5: the New York City foh Department. That's like really like
Speaker 5: kind of amazing that they have a fixed account, which
Speaker 5: is like pretty much you know, no matter what the
Speaker 5: stock market does, you can earn seven percent. So usually
Speaker 5: a fixed account in this environment is like one percent
Speaker 5: or less than one percent. So seven percent on a
Speaker 5: fixed account is extremely extremely good. So you know, I
Speaker 5: wouldn't take it all out of there. Definitely would probably
Speaker 5: leave some money in there just for the safety purposes
Speaker 5: of it. Like you know, if all if all else fails,
Speaker 5: if the stock market crashes, you're guaranteed to get seven percent.
Speaker 5: That's not bad, obviously, you know that's not as good
Speaker 5: as if the stock market goes crazy and you get
Speaker 5: thirty percent of twenty percent. But you know, it's all
Speaker 5: about diversification. So I would diversify, but I would leave
Speaker 5: at least at least like probably twenty five percent in
Speaker 5: a fixed account because that's just like a guarantee insurance.
Speaker 4: Almost.
Speaker 9: All right, thank you Sedalia. All right, Dwight, we're coming
Speaker 9: to you on place, but you're u muted. You should
Speaker 9: be able to speak right, looks like he's having difficulties.
Speaker 4: Sometimes you got to on this do them tool.
Speaker 5: You got to make sure you are muted on your
Speaker 5: end too, like we can unmutube, but make sure you're
Speaker 5: muted on your end.
Speaker 4: So we could all Yeah, he.
Speaker 9: Hadn't muted himself, but he wasn't speaking. All right, do right,
Speaker 9: We're gonna go to the next person, Natasha, I mute
Speaker 9: yourself please, football.
Speaker 6: I have a question about a trust. Who do I
Speaker 6: go to the start a trust? Where do you live
Speaker 6: in Maryland?
Speaker 12: Well?
Speaker 4: I know so the lawyers that we use.
Speaker 5: You know, the thing with the lawyers that is different,
Speaker 5: Like MG he could practice in almost any state for
Speaker 5: the for the mortgages, but lawyers they have to they
Speaker 5: have to be licensed in the state. So I know
Speaker 5: we've used to being a lot. I know she's licensed
Speaker 5: in New York and New Jersey. I don't know if
Speaker 5: she's licensed in Maryland, but I think that we we
Speaker 5: had somebody that was licensed in Maryland, because I remember
Speaker 5: I got that question before from somebody from Maryland. But
Speaker 5: if not, we can definitely. You know, Look, I don't
Speaker 5: want to give you answer right now because I don't
Speaker 5: know at the top of my head. But if we
Speaker 5: could put it in a Facebook back that we, you know,
Speaker 5: do some research and find some good attorneys, maybe Magna.
Speaker 4: Maybe that's something that we can just do period, like
Speaker 4: you know, we can try to, like you.
Speaker 2: Know, this episode is brought to you by P and
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Speaker 7: An illegal alien from Guatemala charged with raping a child
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Speaker 7: of the heinous migrant criminals caught because of President Donald J.
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Speaker 2: Sponsored by the United States Department of Homeland.
Speaker 5: Security highlights some different professionals in different areas of the country,
Speaker 5: especially the law thing, because that's something that you know,
Speaker 5: you depending on what state you live in, you got
Speaker 5: to really use the lawyer as practicing in your state,
Speaker 5: and that could become a little tricky if you live
Speaker 5: in states that you know, we haven't really featured lawyers
Speaker 5: in that state. So okay, yeah, the legal Club, we
Speaker 5: have a legal club actually, so maybe that's something that
Speaker 5: the Legal Club can can can can do.
Speaker 6: And one more quick question I remember you were saying
Speaker 6: that I can I think it was thirteen or fourteen.
Speaker 6: You should put six thousand in a IRA for your child?
Speaker 6: Is that in it? It could be an estimate. I
Speaker 6: think y'all was saying one million. Is that six thousand
Speaker 6: and four when she's fourteen or six thousand every year
Speaker 6: would equate to the estimate.
Speaker 5: Yeah, So what I did when I thought I was
Speaker 5: on a breakfast club when I was, I said that
Speaker 5: a while ago. I was using an example like if
Speaker 5: you put six thousand a year, and from I believe
Speaker 5: it was like the example that I gave was like
Speaker 5: from fourteen to twenty I believe like from fourteen to twenty,
Speaker 5: and I just used a hypothetical like if it earned
Speaker 5: temper cent, I use like QQQ, which you know has
Speaker 5: averaged more than ten percent over the last twenty years.
Speaker 5: But I'm like, all right, if you earned like ten
Speaker 5: percent a year by the time there's sixty, then they
Speaker 5: will have a million dollars. So obviously you know it's
Speaker 5: it's not like one hundred percent guarantee because it depends
Speaker 5: on the market. But that was an example that I
Speaker 5: had gave is to kind of illustrate the power of
Speaker 5: investing early because if you think about it, even if
Speaker 5: it's not six thousand whatever, you can do, but that's
Speaker 5: only like four years or you know, six years of investing,
Speaker 5: and you know, just by the compounding interest and leaving
Speaker 5: it in for such a long period of time, than
Speaker 5: that equals a million dollars without even having to put
Speaker 5: any more money in after the age of twenty. So
Speaker 5: you know, that was just an example of you know,
Speaker 5: the power of compounding interest. And you definitely and I
Speaker 5: think the example that actually gave us with the raw
Speaker 5: fire and the raw Fire ray is even better for
Speaker 5: kids because they don't pay any taxes or when they
Speaker 5: take the money out. So now you set up there,
Speaker 5: you set up their retirement account when they're young, and
Speaker 5: you know, by the time they get they get to retirement,
Speaker 5: they're gonna have They're gonna have, you know, a tremendous
Speaker 5: amount of money just by the money that was set
Speaker 5: up for them, you know, while they were teenagers, and
Speaker 5: that had nothing to do with you know, their own
Speaker 5: fall one cage or their own iras when they get
Speaker 5: older to set it up for themselves. So that's definitely
Speaker 5: a strategy that parents can use for their children whenever
Speaker 5: they turn legal working age. And the rule is you
Speaker 5: can put up you could put up to well, six
Speaker 5: thousand is the max, but you can put up to
Speaker 5: whatever the child made, Like if they have a part
Speaker 5: time job, and let's say they made like three thousand
Speaker 5: dollars for the year, and you can put up to
Speaker 5: you know, three thousand dollars, but it's not unreasonable to
Speaker 5: have six thousand dollars because it's like if they work
Speaker 5: like CVS or something like that, you know, they make
Speaker 5: five hundred dollars a month, that's six thousand dollars a year,
Speaker 5: So five hundred dollars a month, that's not really a
Speaker 5: lot for a part time job, so you know, and
Speaker 5: then if you're self employed, it's even better because if
Speaker 5: you're self employed, then you can hire your child and
Speaker 5: you can pay them, and when you pay them, you
Speaker 5: get a tax deduction for the money that you paid them,
Speaker 5: and then that money you can put into the rough
Speaker 5: IRA or IRA for your child. So that's like a
Speaker 5: double eds sor because now you're actually saving money on
Speaker 5: taxes and your child is working for you and you
Speaker 5: get to save money for their retirement. So a lot
Speaker 5: of different things that you can do with that. But yeah,
Speaker 5: that's some different ideas for sure. So as far as
Speaker 5: the investment side, Yeah, the dollar cost average, I think
Speaker 5: you had talked about that. That's a great way to
Speaker 5: start if you you know, it sounds like you started
Speaker 5: something with the retirement with the row. But I don't
Speaker 5: know if you have a brokerage account. But if you
Speaker 5: don't open a brokerage account, a non retirement brokerage account,
Speaker 5: so that's Monday that is not tied to your retirement,
Speaker 5: you can invest in that every single month. You spoke
Speaker 5: about Lawrence's class, so I'm assuming that you've been You've
Speaker 5: been tapped in with that. So that's great as far
Speaker 5: as you talk about investing, and then of course we
Speaker 5: talk about investing every Monday with Market Monday, so you know,
Speaker 5: we talk about the ets, the index funds, all that stuff.
Speaker 5: So you can pick a couple of stocks funds that
Speaker 5: you feel comfortable with and start putting money in every
Speaker 5: single month. That's one way to just get the ball
Speaker 5: rolling and you know, get into the actual investment game
Speaker 5: where you're putting money away over the consistent period of time. Now,
Speaker 5: as far as the pilot situation, obviously from what you're saying,
Speaker 5: that's a little bit more capital a lot more capital intensive,
Speaker 5: So it probably would be difficult to self praise or
Speaker 5: self fund that type of project. Me personally, I'm real
Speaker 5: big on collabor operation. That's something that you know we've
Speaker 5: practiced and we still do to this day, is collaborate
Speaker 5: with different people. And I just personally feel like, you know,
Speaker 5: you can do a lot more together than you can separate.
Speaker 5: And even if that means, you know, working with other
Speaker 5: people for equity, like in giving up equity, like it's
Speaker 5: not wrong with giving upity, Like we have given up
Speaker 5: equity and our third partner, Mike, he's a childhood friend
Speaker 5: of ours, but when we brought them on, we didn't
Speaker 5: have enough money to actually pay them, so we gave
Speaker 5: him a part of the company.
Speaker 4: Now he's our business partners.
Speaker 5: So I think giving up ownership, giving up a portion
Speaker 5: of equity and giving up ownership of two different things.
Speaker 5: Giving up some equity can be a smart move if
Speaker 5: somebody can add value. That's why you give up equity.
Speaker 5: If you don't necessarily have the resources and you need
Speaker 5: to bring somebody on. Now they can provide their talent,
Speaker 5: their relationships, you know, whatever they can bring to the table,
Speaker 5: and they're not working for money because now they're a
Speaker 5: part owner in the company.
Speaker 4: So the company's success is tied to their success.
Speaker 5: So it's in their best interest for that company to
Speaker 5: be successful because the more money that the company makes,
Speaker 5: the more money that they make, as opposed to just
Speaker 5: hiring an employee, and you know, if it's a good employee,
Speaker 5: then you know they'll work is hard just because you
Speaker 5: know that's what they're supposed to do. But obviously, you
Speaker 5: know there's a lot of employees that don't care because
Speaker 5: you know, it doesn't matter how well the company does
Speaker 5: or you know, if they're still going to get paid
Speaker 5: the same amount. So that's why the equity play is
Speaker 5: not always a bad play. Partnerships are not always bad.
Speaker 5: It's just a matter of just being intelligent about it,
Speaker 5: keeping ownership, keeping you know, a majority state, things of
Speaker 5: that nature. So I would approach it from that standpoint.
Speaker 5: I would approach it from partnerships. Look to see, you say,
Speaker 5: you've been in the industry for a long time, so
Speaker 5: I'm sure you have a lot of great relationships with
Speaker 5: different people, and you know, who knows who would want
Speaker 5: to work with you, or who won't want to partner
Speaker 5: with you, and different things.
Speaker 4: Of that nature.
Speaker 5: So that's how I would approach it, as opposed to
Speaker 5: even thinking about funding it out of my own pocket
Speaker 5: with that much capital. If it was less capital, but
Speaker 5: if it's a lot, if it's gonna be real, real
Speaker 5: capital intensive, then you know, you might want to go
Speaker 5: a different route.
Speaker 12: Okay, that's good though. That's the partnership is definitely something
Speaker 12: that's been out there. It's just again really holding in
Speaker 12: our owning in on the or honing in on the
Speaker 12: ownership piece. We definitely want to be attachment. I'm pretty
Speaker 12: sure you can tell, like sometimes people don't take you seriously,
Speaker 12: but like I said, even with having the experience, it's
Speaker 12: like that. But that was some good insight. Thank you
Speaker 12: so much all r P.
Speaker 1: Math.
Speaker 9: We're coming to you and meet yourself please.
Speaker 4: Yeah, what's going on?
Speaker 5: Yeah?
Speaker 8: Hey, okay, cool, cool, Hey. I just wanted to ask
Speaker 8: a quick question. I'm sure it's been asked many times.
Speaker 8: It's about four one k rollover.
Speaker 3: My specific question is I have like three four one
Speaker 3: case from the previous employers. I'm gonna roll like one
Speaker 3: of the bigger ones into a new one. That I'm
Speaker 3: participating that the employee is participating in. But then the
Speaker 3: two smaller ones I want to be able to invest myself.
Speaker 3: So just kind of to sum it up, I have
Speaker 3: I had it with Fidelity. I'm going to entrust her
Speaker 3: the lguit amount into a company named the Principal, and
Speaker 3: I've always uh trade with TD. I had a brokege
Speaker 3: account with excuse me, with Fidelity, but I'm I'm transferring.
Speaker 3: I transferred those funds into TD because just what I've
Speaker 3: heard is that it's it's it's more user friendly things
Speaker 3: of that nature. Now my question is with the other
Speaker 3: two smaller ones that I'm not going to transfer into
Speaker 3: the the account that with that's with my employer. I
Speaker 3: want to have a little bit of flexibility to to
Speaker 3: to move those around. So I didn't know if I
Speaker 3: should just keep the funds with Fidelity and have a
Speaker 3: separate I R there, or transfer it into t D
Speaker 3: where I have my brokerage account that way. You know,
Speaker 3: I guess, I guess I'm a little confused on what's
Speaker 3: the benefits of having it having an I R A
Speaker 3: with a different company because the I'm not gonna put
Speaker 3: it with the you know, I'm not trying. I'm trying
Speaker 3: not to roll everything into my my four o K
Speaker 3: four one K. I'm trying to make sure that I
Speaker 3: have some flexibility to to move it around, you know,
Speaker 3: as I feel fit.
Speaker 5: So, yeah, your current four one k's with Fidelity, and
Speaker 5: you're debating whether you should roll into an IRA with
Speaker 5: Fidelity or I RA with TD?
Speaker 4: Is that the question?
Speaker 8: So it's actually with a different So my current four
Speaker 8: one K, I'm transferring.
Speaker 4: Your old your old one K.
Speaker 8: Yeah, the old one side. The old one was with Fidelity.
Speaker 8: So I'm transferring the old ones. Two of one of
Speaker 8: the old ones the larger amount to one that my
Speaker 8: employe is participating. And that's called the principle. So I'm
Speaker 8: already just that's that's kind of just out out there.
Speaker 8: I'm gonna just put the bigger one into the one
Speaker 8: that they're contributing to. But the two smaller ones that
Speaker 8: I have with Fidelity, I was gonna, I guess I'm
Speaker 8: trying to figure out if it makes sense to transferred
Speaker 8: over to TD since I'm kind of that's where my
Speaker 8: brokenge account is, my individual Brokene account. That way I
Speaker 8: could kind of line things up. That's that's what I'm thinking.
Speaker 3: Or I don't even know if there's any benefit of
Speaker 3: just having it transfer, taking that for one K and
Speaker 3: turning it into a rayah Ira with UH with Fidelity
Speaker 3: and just keeping it where it is.
Speaker 5: Yeah, I think it just depends on whichever one you
Speaker 5: feel comfortable with, right, Like I mean, Fidelity TD. They're
Speaker 5: both good companies, They're both, you know, very similar. I
Speaker 5: personally like TD a little bit.
Speaker 4: I have both.
Speaker 5: I have FIDELLITI and TV TD. I like TD a
Speaker 5: little better because it just has a better user interface
Speaker 5: in my opinion. But I mean it's not like one
Speaker 5: is dramatically better than the others. So I guess it's
Speaker 5: just whatever you feel comfortable with. But you can roll
Speaker 5: it over into it a Fidelity I RA and you know,
Speaker 5: have you know control over it, and you know, pick
Speaker 5: the investments that you want, or you can roll it
Speaker 5: over into a t D I RA and have control
Speaker 5: over and pick the investments that you want. So it
Speaker 5: really just depends, honestly. I mean, that's that's just up
Speaker 5: to you, like whatever whichever one you feel most comfortable with.
Speaker 5: Like I said, me, personally, I just like TD. I
Speaker 5: like TD better than fidelity because I just feel like
Speaker 5: it has a better user interface.
Speaker 4: And yeah, so that's not true that that's my personal opinion.
Speaker 5: So you know, but you can you can do either
Speaker 5: or I mean there's really no no dramatic difference from
Speaker 5: one then the other.
Speaker 4: Yea you similar?
Speaker 8: Okay, all right?
Speaker 3: And just the last thing on that on that no
Speaker 3: matter where I go to transfer it, changing that four
Speaker 3: one K into an IRA, what's really the benefits of
Speaker 3: the IRA? When I'm am I able to move things
Speaker 3: around as I feel like, So I know I can't
Speaker 3: do that with the four one K. So I'm assuming
Speaker 3: that's just the only benefit is the flexibility?
Speaker 5: Right, Well, a full one K it's pretty much like
Speaker 5: frozen in the sense when you're not working it anymore,
Speaker 5: not frozen, wight, it's not growing. But when you when
Speaker 5: you leave a job, you can't add money to your
Speaker 5: fall one K anymore, you can't ball from it, you
Speaker 5: don't have any like advice, and you're stuck with the
Speaker 5: investments that's provided for you from the four one K.
Speaker 5: So fall one K has like a menu of different
Speaker 5: options like they have like let's say fifteen different funds
Speaker 5: that you can pick and choose from but you can
Speaker 5: only invest in those funds. So with an IRA, you
Speaker 5: get to pick and choose the funds that you that
Speaker 5: you want, right. You can add you can add money
Speaker 5: to it, like let's say going forward, like you start
Speaker 5: a business, or your job doesn't have a four one K,
Speaker 5: your new job doesn't have a four one K, or
Speaker 5: you can always add money to an IRA. IRA also
Speaker 5: can serve as like a central hub where you know,
Speaker 5: you might leave multiple different jobs throughout the course of
Speaker 5: your life and you might have like six different four
Speaker 5: one k that that becomes a little difficult to manage,
Speaker 5: but you can always roll those four one ks into
Speaker 5: an IRA and have that as like the central hub
Speaker 5: for all of your old four one k.
Speaker 4: So in a nutshell, it just gives you more flexibility.
Speaker 5: Gives you more flexibility as far as you know, being
Speaker 5: able to pick and choose your investments and you know,
Speaker 5: actually being able to put money into it as well,
Speaker 5: so those you don't have once you leave the company
Speaker 5: with an old four to one K. So that's really
Speaker 5: the benefit with the IRA as opposed to keeping the
Speaker 5: money in the old for for oh one k.
Speaker 8: All right, sounds good.
Speaker 3: I appreciate it.
Speaker 9: Man Andrew.
Speaker 4: You are coming to you and yourself with and somebody
Speaker 4: saying a shot. You can't access them.
Speaker 10: You can't.
Speaker 5: You can't access the IRA. You just pay penalty on it,
Speaker 5: just like a four to one K. If you have
Speaker 5: an all four one K and you took the money
Speaker 5: out before fifty nine and a half, you pay a
Speaker 5: penalty on it. But there are some provisions where you
Speaker 5: can actually take some money out of without paying the
Speaker 5: penalty tax.
Speaker 4: But you always pay state and federal tax on an
Speaker 4: IRA or a fall one K, so they're both the same.
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