WEBVTT - Study Hall: Financial Planning with Rashad 0:00:00.400 --> 0:00:03.120 Coach, the energy out there felt different. What changed for 0:00:03.160 --> 0:00:03.800 the team today? 0:00:03.880 --> 0:00:06.040 It was the new game day scratches from the California 0:00:06.080 --> 0:00:07.080 Lottery players. 0:00:07.120 --> 0:00:07.520 Everything. 0:00:07.840 --> 0:00:09.799 Those games sent the team's energy through the roof. 0:00:09.880 --> 0:00:11.880 Are you saying it was the off field play that 0:00:11.920 --> 0:00:13.000 made the difference on the field. 0:00:13.119 --> 0:00:15.840 Hey, little play makes your day, and today it made 0:00:15.880 --> 0:00:16.279 the game. 0:00:16.760 --> 0:00:19.319 That's all for now, coach, one more question play than 0:00:19.360 --> 0:00:22.119 New Los Angeles Chargers, San Francisco forty nine ers and 0:00:22.160 --> 0:00:24.960 Los Angeles ram scratchers from the California Lottery. 0:00:25.040 --> 0:00:28.160 A little play can make your day. Peace made responsibily. 0:00:28.200 --> 0:00:29.680 It must be eighteen years or older to purchase late 0:00:29.760 --> 0:00:30.360 or claim. 0:00:30.280 --> 0:00:33.400 What would be a good percentage to use, you know, 0:00:33.520 --> 0:00:35.640 so that way I can just keep the same number 0:00:35.760 --> 0:00:39.159 going in there all the time. Yeah, you know, I 0:00:39.200 --> 0:00:41.800 don't really like percentages too much. I like actual numbers 0:00:41.840 --> 0:00:44.440 because I could say, like I could say like ten percent, 0:00:44.520 --> 0:00:47.080 fifteen percent, but it really just depends on your situation. 0:00:47.240 --> 0:00:50.000 So I always try to look at like discretionary income, 0:00:50.040 --> 0:00:52.479 so like how much money is left over at the 0:00:52.560 --> 0:00:54.480 end of the month. So that's the first Like first 0:00:54.480 --> 0:00:55.920 we got to see, like how much money is left 0:00:55.920 --> 0:00:57.360 over at the end of the month, right, So it's 0:00:57.440 --> 0:01:00.680 like one of two things is happening. And this is 0:01:00.720 --> 0:01:02.840 just like broad range statement. Either you have money left 0:01:02.880 --> 0:01:04.080 over at the end of the month where you don't, 0:01:04.200 --> 0:01:06.760 or you're running in a deficit. So if you have 0:01:06.880 --> 0:01:08.560 money left over, you got to see how much money 0:01:08.600 --> 0:01:10.400 you have left over. So if it's like, Okay, I 0:01:10.480 --> 0:01:13.319 have a thousand dollars left over after all my bills 0:01:13.360 --> 0:01:15.720 are paid, after you know, I have some fun every 0:01:15.760 --> 0:01:18.360 single month, I have at least a thousand dollars left over, right, 0:01:18.440 --> 0:01:22.480 So just using that that number, I personally would probably 0:01:22.520 --> 0:01:25.520 do somewhere along the lines of like putting thirty percent 0:01:25.560 --> 0:01:27.720 of that money into like savings until you have you know, 0:01:28.000 --> 0:01:31.200 six to twelve months of savings, because that's important, and 0:01:31.240 --> 0:01:35.440 then I probably would look to invest thirty percent though 0:01:35.520 --> 0:01:37.520 now that's like sixty percent of the money right there, 0:01:37.640 --> 0:01:40.120 and then maybe you know, twenty percent would go to 0:01:40.360 --> 0:01:42.880 you know, a kid's account, twenty to fifteen percent or 0:01:42.959 --> 0:01:44.920 go to the kid's account, and then the left the 0:01:44.959 --> 0:01:47.200 rest is just kind of left for like miscellaneous. So 0:01:47.360 --> 0:01:49.880 that's what I would kind of go by more so 0:01:50.000 --> 0:01:52.680 than like, you know, just a percent of like your 0:01:52.680 --> 0:01:55.200 total income, because I could say ten percent of your income, 0:01:55.200 --> 0:01:57.240 but if that might be too much, so it's really 0:01:57.240 --> 0:02:01.120 more of a percentage of your discretionary income, and the 0:02:01.200 --> 0:02:04.880 discretionary income I would say probably like twenty twenty to 0:02:04.880 --> 0:02:08.360 fifteen percent of discretionary income that you can afford to 0:02:08.480 --> 0:02:09.200 you know, put away. 0:02:09.960 --> 0:02:12.040 Okay, thank you. I appreciate that man that helped me 0:02:12.040 --> 0:02:12.519 out a lot. 0:02:12.680 --> 0:02:14.880 No, no problem, brother, you have a good one, all. 0:02:14.880 --> 0:02:17.200 Right, Tyran, We're coming to you on meet yourself please. 0:02:18.680 --> 0:02:20.799 Hell, I'm good at eurosage. 0:02:20.880 --> 0:02:21.600 I'm good, I'm good. 0:02:22.960 --> 0:02:27.480 I have a question, what are the disadvantage of an escort? 0:02:27.680 --> 0:02:29.720 I kind of think I know a little bit about 0:02:29.720 --> 0:02:33.240 the advantages in compassing to an LLC, but what are 0:02:33.320 --> 0:02:35.280 the disadvantage of an escort? 0:02:36.000 --> 0:02:39.639 It's more structured. I think this business had actually told 0:02:39.639 --> 0:02:41.480 a class about this. But you have to pay yourself 0:02:41.480 --> 0:02:44.240 a salary, so especially like if you're not making you 0:02:44.280 --> 0:02:46.200 know that much money, or if the business is just 0:02:46.240 --> 0:02:48.560 starting out, it could be kind of pressure on you 0:02:48.639 --> 0:02:51.080 to you know, have payroll. So that's something that you know, 0:02:51.160 --> 0:02:54.000 definitely could take into consideration. Like I forgot the number 0:02:54.000 --> 0:02:55.480 that she said, but I think it's like one hundred 0:02:55.480 --> 0:02:57.000 thousand dollars something like that. You should be making like 0:02:57.000 --> 0:02:58.720 one hundred thousand dollars in your business before you go 0:02:58.760 --> 0:03:02.600 to es coop route, because yeah, it's definitely it's definitely 0:03:02.600 --> 0:03:05.360 a lot more structure. But off the top of my head, 0:03:05.520 --> 0:03:07.359 I would I would think that that would be something 0:03:07.400 --> 0:03:09.840 that you know, you just definitely have to consider because 0:03:09.880 --> 0:03:13.440 you definitely have to put yourself on payroll and. 0:03:14.000 --> 0:03:15.799 You know, we as like a regular LLC. 0:03:16.200 --> 0:03:18.239 You could just you know, not pay yourself a month, 0:03:18.320 --> 0:03:20.920 two months whatever if not no money's coming in or 0:03:20.919 --> 0:03:22.480 you just want to just you know, you're real within 0:03:22.560 --> 0:03:23.040 that month. 0:03:23.160 --> 0:03:25.280 So that's something that's taking to consideration. 0:03:25.560 --> 0:03:28.520 Especially a lot of businesses, especially when they first start, 0:03:28.680 --> 0:03:31.120 cash flow is very up and down. So you know, 0:03:31.280 --> 0:03:33.359 if your cash flow is up and down, you want 0:03:33.400 --> 0:03:35.000 to make sure you getting to a point where you 0:03:35.080 --> 0:03:36.880 have some level of consistent cash flow. 0:03:36.960 --> 0:03:37.240 First. 0:03:37.600 --> 0:03:41.680 Okay, thanks very much, that answered the question. 0:03:41.760 --> 0:03:45.920 Thanks all right, all right, we're coming to you on yourself. 0:03:45.920 --> 0:03:50.040 Please all right, good morning, thanks for coming. My question 0:03:50.200 --> 0:03:53.600 is I got to question. My first question is let's say, 0:03:53.600 --> 0:03:55.920 like example, like I have a mortgage that I was 0:03:55.920 --> 0:04:00.120 trying to pay early, be like within seven to ten years. 0:04:00.160 --> 0:04:02.720 And also let's say if I have some money that's 0:04:02.760 --> 0:04:05.080 coming in. Let's see, like if I have like probably 0:04:05.200 --> 0:04:08.840 like two to five thousand, so like, should I put 0:04:08.880 --> 0:04:12.280 it in the market? Even I do have automatic payment, 0:04:12.320 --> 0:04:15.160 that's that's contribution that I make every month for my 0:04:15.320 --> 0:04:18.240 investment on the stock market and crypto and stuff like that. 0:04:18.360 --> 0:04:21.279 So should I keep the best thing is for me 0:04:21.320 --> 0:04:22.960 to do, Should I like put that money in the 0:04:23.000 --> 0:04:25.240 stock market or should I put it to my mortgage? 0:04:25.360 --> 0:04:27.160 Even like in the future, I want to like to 0:04:27.400 --> 0:04:32.200 invest more and and and real estate. So what's what's 0:04:32.240 --> 0:04:32.720 where will be? 0:04:32.880 --> 0:04:32.960 Uh? 0:04:33.920 --> 0:04:36.080 Yes, but what we suggest, I mean I think you 0:04:36.080 --> 0:04:37.520 could do both. I don't think I don't think it 0:04:37.520 --> 0:04:39.320 has to be a one or the other situation. You know, 0:04:39.320 --> 0:04:41.360 you want to see what's most what's most important, it's 0:04:41.400 --> 0:04:43.120 paid off your house more important? Or do you think 0:04:43.120 --> 0:04:44.719 you can get a better return to the stock market, 0:04:44.800 --> 0:04:46.680 And especially if you got a low interest rate, it 0:04:46.800 --> 0:04:49.320 might be more advantageous to put the money into the 0:04:49.360 --> 0:04:51.800 market because you know your opportunity costs is probably greater 0:04:51.839 --> 0:04:52.760 investing in the stock market. 0:04:52.839 --> 0:04:53.920 But that doesn't necessarily mean. 0:04:53.800 --> 0:04:56.200 That you can't do both, So you know you could, uh, 0:04:56.560 --> 0:04:58.120 maybe if instead of if you were going to put 0:04:58.120 --> 0:05:00.919 two thousand dollars a month into pay into your mortgage 0:05:00.920 --> 0:05:02.960 to pay it off, you know, a lot quicker, maybe. 0:05:02.720 --> 0:05:04.320 You put five hundred dollars a both. 0:05:04.440 --> 0:05:06.480 Right, you know that's still going to add up over 0:05:06.480 --> 0:05:09.000 the course of the year, and you know you can 0:05:09.080 --> 0:05:12.960 still knock off years of paying off your mortgage. So 0:05:13.279 --> 0:05:15.720 I would I always say, you know, see what's most 0:05:15.760 --> 0:05:19.599 important to you. But you can definitely do both, especially 0:05:19.640 --> 0:05:21.839 with that with that amount of money. It's not like 0:05:21.839 --> 0:05:23.640 it's you know, a couple of hundred, couple of thousand. 0:05:24.080 --> 0:05:27.200 You can definitely, you know, allocate money to both of them. 0:05:27.200 --> 0:05:30.440 But the opportunity cost will probably be better investing in the 0:05:30.480 --> 0:05:33.440 stock market. But I also understand, you know, if you 0:05:33.440 --> 0:05:36.080 don't want to have the mortgage forever and you want 0:05:36.120 --> 0:05:38.440 to pay off the property sooner, so you know, maybe 0:05:38.600 --> 0:05:40.600 maybe you just do some calculations and see how that 0:05:40.640 --> 0:05:41.880 will work out if you if you did it for 0:05:42.040 --> 0:05:43.840 just a little bit less money than you would have 0:05:44.120 --> 0:05:44.839 done originally. 0:05:45.400 --> 0:05:48.880 My other question is, what what does the difference between 0:05:48.920 --> 0:05:51.039 like QQQ and qqq M. 0:05:51.320 --> 0:05:52.120 You broke up a little bit. 0:05:52.160 --> 0:05:55.120 What you say was the difference between like QQQ and 0:05:55.240 --> 0:05:57.040 qqq M. 0:05:57.080 --> 0:06:00.080 I think qqq M, Troy, I know the cute to 0:06:00.240 --> 0:06:02.440 t but let me make sure I get a right 0:06:02.440 --> 0:06:03.080 information on that. 0:06:03.320 --> 0:06:05.440 I think it's a mini QQQ, but I would I 0:06:05.480 --> 0:06:07.480 would like to know if there's a difference, like from 0:06:08.400 --> 0:06:11.520 the percentage of return or the amount of stack that 0:06:11.520 --> 0:06:15.040 that that they invest in. Was that one is around 0:06:15.040 --> 0:06:17.760 like three something and then the QQM is on like 0:06:17.880 --> 0:06:18.600 one something. 0:06:19.720 --> 0:06:21.640 Yeah, let me let me look, let me look, I 0:06:21.680 --> 0:06:23.560 have Troy doing research on it. Get back to you 0:06:23.600 --> 0:06:23.880 on that. 0:06:24.000 --> 0:06:28.800 Okay, thank you appreciate it. And also for form irate 0:06:29.200 --> 0:06:31.640 rough area for kids, so like do they have to 0:06:31.640 --> 0:06:34.279 be a certain age for to start a rough area 0:06:34.320 --> 0:06:34.839 for kids? 0:06:34.960 --> 0:06:37.279 Yeah, yeah, they have to be well yes or no, 0:06:37.480 --> 0:06:38.760 they have to if you're doing it. 0:06:39.640 --> 0:06:40.839 If you're not self. 0:06:40.560 --> 0:06:42.600 Employed, then they have to be a working age, like 0:06:42.640 --> 0:06:44.680 they have to have a job. The working the age 0:06:44.680 --> 0:06:46.880 depends on what state you live in. But as long 0:06:46.920 --> 0:06:48.719 as they have working papers and they have a job 0:06:48.720 --> 0:06:50.760 and they actually have to be working, that's another thing. 0:06:50.880 --> 0:06:53.240 So as soon as they're able to work, you can 0:06:53.279 --> 0:06:53.520 do it. 0:06:53.720 --> 0:06:56.760 But if you're self employed, it's a little different because 0:06:56.760 --> 0:06:59.839 you can actually hire your child before they legally have 0:07:00.120 --> 0:07:03.200 like working papers, as long as they're actually working and 0:07:03.520 --> 0:07:06.200 they can actually do a job. So obviously, like you 0:07:06.200 --> 0:07:08.479 can't hire a two year old, but like if you 0:07:08.560 --> 0:07:10.760 have like somebody that's like ten or eleven years old 0:07:10.840 --> 0:07:12.560 and they're actually doing you just have to be able 0:07:12.600 --> 0:07:14.480 to justify it in case you have to get audited. 0:07:15.040 --> 0:07:17.840 But you have more flexibility and you can hire younger 0:07:18.360 --> 0:07:20.720 if you're self employed. But if the child is working 0:07:21.040 --> 0:07:23.880 just a regular job whenever, if they work a job, 0:07:23.920 --> 0:07:25.680 then they could you could put money into the IRA. 0:07:25.840 --> 0:07:27.360 It's so basically you cannot do it in the course 0:07:27.520 --> 0:07:28.680 your account for the IRA. 0:07:29.040 --> 0:07:32.040 Yeah yeah, no, it's it's a custodial account. It's just 0:07:32.040 --> 0:07:35.040 a it's a royal IRA. Still you still you're still 0:07:35.080 --> 0:07:37.680 like the child is still a minor. The child's still 0:07:37.680 --> 0:07:39.840 a minor, so it's not like you know, you got 0:07:39.840 --> 0:07:41.320 to set it up for them and you put the 0:07:41.360 --> 0:07:43.840 money in. But you know, you can have a custodio 0:07:44.000 --> 0:07:46.800 account where it's just in the market and there's no 0:07:46.840 --> 0:07:50.520 retirement account attached to it, or it's the retirement account 0:07:50.680 --> 0:07:52.440 but it's still it's still a Custudio account. 0:07:52.720 --> 0:07:57.800 Good morning, Good morning, so thank you for coming on 0:07:57.840 --> 0:07:59.960 the call even though you're not feeling well. That's right, 0:08:00.200 --> 0:08:02.800 nice of you. And congratulations with the Steve Harvey interview. 0:08:03.080 --> 0:08:06.440 It was really really well done. It was great. So 0:08:06.520 --> 0:08:08.760 you guys must feel so proud of yourselves right now, 0:08:08.800 --> 0:08:11.720 So thanks a lot for that as well. My question 0:08:11.800 --> 0:08:14.360 is about my TDA. I am a teacher in New 0:08:14.440 --> 0:08:18.120 York City and I have about ten more years left 0:08:18.240 --> 0:08:21.520 till I retire, so right now I have They let 0:08:21.600 --> 0:08:24.560 you split up your TDA, your tax defer annuity into 0:08:24.800 --> 0:08:28.640 diversified and fixed. So I believe I've always had it 0:08:29.040 --> 0:08:32.679 like eighty twenty, but I just realized that the diversified 0:08:32.760 --> 0:08:35.360 has options and I didn't know that. So there's like 0:08:35.760 --> 0:08:39.800 a bunch of different options, and I just wanted to know, 0:08:39.880 --> 0:08:42.240 like how, like what's the best way to like pick 0:08:42.640 --> 0:08:46.480 between the different funds because they have like like three 0:08:46.559 --> 0:08:50.640 or four. There's like a sustainable one, there's an international one, 0:08:51.760 --> 0:08:53.760 Like do I just go by like the history or 0:08:53.800 --> 0:08:55.800 do you think it's better to just stay with like 0:08:55.840 --> 0:08:58.120 the one they recommend, which I think is just they 0:08:58.160 --> 0:08:59.640 call it like the diversified. 0:09:00.080 --> 0:09:03.320 It's always good to rule a thumb. You always want 0:09:03.320 --> 0:09:06.400 to look at rate of returns. That's something that's you know, 0:09:06.480 --> 0:09:08.800 a cheat code whenever you look at an investment, especially 0:09:08.840 --> 0:09:11.520 like four one K or any type of retirement plan investments, 0:09:11.840 --> 0:09:14.880 usually like they'll they'll give you a sheet and it'll 0:09:14.920 --> 0:09:16.760 have like, you know, the different funds, so it's like 0:09:16.760 --> 0:09:19.640 the stable fund, the growth fund, the international funds, and 0:09:19.679 --> 0:09:23.160 then they'll have like the year to date return, three 0:09:23.280 --> 0:09:27.000 year return, five year return, ten year return, census inception. 0:09:27.160 --> 0:09:28.840 What I like to do is look at the longest 0:09:28.840 --> 0:09:32.120 possible time frame, so like ten years or since its inception. 0:09:32.559 --> 0:09:34.920 Sometimes if it's new, it might not have a ten 0:09:35.000 --> 0:09:36.679 year track record. It might have like a five year 0:09:36.720 --> 0:09:38.800 or four year track record. But ye or to try 0:09:38.840 --> 0:09:41.640 to look at the long the longest possible time frame 0:09:42.160 --> 0:09:45.520 and see which one has usually performed for that. Usually, 0:09:45.559 --> 0:09:48.240 like I haven't really been a big fan on international funds. 0:09:48.320 --> 0:09:50.720 It's me personally, especially like in retirement accounts over the 0:09:50.760 --> 0:09:53.560 last like ten years, they haven't really done as good 0:09:53.760 --> 0:09:56.400 as like just international growth growth funds. So it really 0:09:56.400 --> 0:09:58.520 just depends on your risk tolerance. But you know, the 0:09:58.559 --> 0:10:00.720 growth growth funds is always going to something that's going 0:10:00.760 --> 0:10:03.000 to usually you know, be the best as far as 0:10:03.080 --> 0:10:06.280 growth over the course of time. That's like no more 0:10:06.320 --> 0:10:09.079 large cab companies. But the good thing And I don't 0:10:09.120 --> 0:10:11.000 know if they changed it, but I know a few 0:10:11.040 --> 0:10:13.640 years ago for the fixed account for the city, how 0:10:13.720 --> 0:10:15.920 much is the fixed account paign like percent something like that. 0:10:16.360 --> 0:10:18.800 It's it's seven point twenty five. When I started, it 0:10:18.880 --> 0:10:21.520 was eight point five or eight point two five, but 0:10:21.559 --> 0:10:23.760 then they lowered it to seven point two five, so 0:10:23.800 --> 0:10:25.480 I was able to get the eight percent like the 0:10:25.480 --> 0:10:28.160 first two or three years I started teaching. But now 0:10:28.200 --> 0:10:31.000 it's seven point twenty five, and like I have ten 0:10:31.160 --> 0:10:34.640 about ten more years left, so I have like twenty 0:10:34.720 --> 0:10:37.600 years already and I have ten more to go. But 0:10:38.800 --> 0:10:43.040 the sustainable index gives a greater return, but it's very new, 0:10:43.200 --> 0:10:45.360 so it's only like a few years old, so I'm like, 0:10:45.559 --> 0:10:47.800 is this should I trust that? And then they also 0:10:47.800 --> 0:10:50.800 say to like switch it right before you're about to retire, 0:10:50.880 --> 0:10:53.960 to just be in the fixed ones so you don't 0:10:53.960 --> 0:10:56.200 have to worry about like big issues with the market. 0:10:56.320 --> 0:10:56.520 Yeah. 0:10:56.559 --> 0:10:58.640 Well, the good thing with that is that that's pretty 0:10:58.679 --> 0:11:00.360 much I heard of to have a fix accoun that 0:11:00.400 --> 0:11:03.680 earns seven percent. So that is one thing that you know, 0:11:03.800 --> 0:11:06.760 the New York City foh Department. That's like really like 0:11:06.920 --> 0:11:09.840 kind of amazing that they have a fixed account, which 0:11:09.880 --> 0:11:11.360 is like pretty much you know, no matter what the 0:11:11.400 --> 0:11:14.440 stock market does, you can earn seven percent. So usually 0:11:14.440 --> 0:11:16.680 a fixed account in this environment is like one percent 0:11:16.760 --> 0:11:18.960 or less than one percent. So seven percent on a 0:11:18.960 --> 0:11:22.439 fixed account is extremely extremely good. So you know, I 0:11:22.480 --> 0:11:25.000 wouldn't take it all out of there. Definitely would probably 0:11:25.080 --> 0:11:27.240 leave some money in there just for the safety purposes 0:11:27.320 --> 0:11:30.240 of it. Like you know, if all if all else fails, 0:11:30.440 --> 0:11:33.439 if the stock market crashes, you're guaranteed to get seven percent. 0:11:33.480 --> 0:11:36.560 That's not bad, obviously, you know that's not as good 0:11:36.600 --> 0:11:38.400 as if the stock market goes crazy and you get 0:11:38.400 --> 0:11:40.440 thirty percent of twenty percent. But you know, it's all 0:11:40.480 --> 0:11:43.199 about diversification. So I would diversify, but I would leave 0:11:43.240 --> 0:11:46.120 at least at least like probably twenty five percent in 0:11:46.160 --> 0:11:48.840 a fixed account because that's just like a guarantee insurance. 0:11:48.840 --> 0:11:49.240 Almost. 0:11:49.960 --> 0:11:52.880 All right, thank you Sedalia. All right, Dwight, we're coming 0:11:52.920 --> 0:11:55.440 to you on place, but you're u muted. You should 0:11:55.440 --> 0:11:58.040 be able to speak right, looks like he's having difficulties. 0:11:58.280 --> 0:11:59.880 Sometimes you got to on this do them tool. 0:11:59.880 --> 0:12:01.600 You got to make sure you are muted on your 0:12:01.679 --> 0:12:03.719 end too, like we can unmutube, but make sure you're 0:12:03.840 --> 0:12:04.480 muted on your end. 0:12:04.480 --> 0:12:05.679 So we could all Yeah, he. 0:12:05.640 --> 0:12:08.480 Hadn't muted himself, but he wasn't speaking. All right, do right, 0:12:08.520 --> 0:12:11.040 We're gonna go to the next person, Natasha, I mute 0:12:11.040 --> 0:12:12.400 yourself please, football. 0:12:12.960 --> 0:12:15.440 I have a question about a trust. Who do I 0:12:15.520 --> 0:12:18.880 go to the start a trust? Where do you live 0:12:19.400 --> 0:12:20.439 in Maryland? 0:12:21.440 --> 0:12:21.680 Well? 0:12:21.840 --> 0:12:23.600 I know so the lawyers that we use. 0:12:23.920 --> 0:12:25.480 You know, the thing with the lawyers that is different, 0:12:25.520 --> 0:12:28.280 Like MG he could practice in almost any state for 0:12:28.320 --> 0:12:30.559 the for the mortgages, but lawyers they have to they 0:12:30.559 --> 0:12:32.480 have to be licensed in the state. So I know 0:12:32.520 --> 0:12:35.200 we've used to being a lot. I know she's licensed 0:12:35.240 --> 0:12:36.800 in New York and New Jersey. I don't know if 0:12:36.840 --> 0:12:40.240 she's licensed in Maryland, but I think that we we 0:12:40.480 --> 0:12:42.720 had somebody that was licensed in Maryland, because I remember 0:12:42.720 --> 0:12:44.960 I got that question before from somebody from Maryland. But 0:12:45.040 --> 0:12:47.280 if not, we can definitely. You know, Look, I don't 0:12:47.280 --> 0:12:48.640 want to give you answer right now because I don't 0:12:48.640 --> 0:12:49.960 know at the top of my head. But if we 0:12:49.960 --> 0:12:51.680 could put it in a Facebook back that we, you know, 0:12:52.120 --> 0:12:55.040 do some research and find some good attorneys, maybe Magna. 0:12:55.080 --> 0:12:56.680 Maybe that's something that we can just do period, like 0:12:56.679 --> 0:12:57.760 you know, we can try to, like you. 0:12:57.679 --> 0:13:00.839 Know, this episode is brought to you by P and 0:13:00.880 --> 0:13:03.960 C Bank. A lot of people think podcasts about work 0:13:04.000 --> 0:13:07.920 are boring, and sure they definitely can be, but understanding 0:13:07.960 --> 0:13:10.959 a professionals routine shows us how they achieve their success 0:13:11.040 --> 0:13:15.160 little by little, day after day. It's like banking with 0:13:15.240 --> 0:13:17.839 P and C Bank. 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To see how Square can transform your business, 0:14:32.480 --> 0:14:37.120 visit Square dot com backslash go backslash eyl to learn 0:14:37.160 --> 0:14:42.360 more that Square dot com backslash, go backslash eyl. Don't wait, 0:14:42.640 --> 0:14:45.480 don't hesitate. Let's Square handle the back end so you 0:14:45.520 --> 0:14:47.160 can keep pushing your vision forward. 0:14:49.360 --> 0:14:53.040 An illegal alien from Guatemala charged with raping a child 0:14:53.080 --> 0:14:56.880 in Massachusetts. An MS thirteen gang member from El Salvador 0:14:57.120 --> 0:15:01.760 accused of murdering a Texas man. Suwalen charged with filming 0:15:01.800 --> 0:15:05.600 and selling child pornography in Michigan. These are just some 0:15:05.720 --> 0:15:09.560 of the heinous migrant criminals caught because of President Donald J. 0:15:09.640 --> 0:15:13.400 Trump's leadership. I'm Christy Noman, the United States Secretary of 0:15:13.440 --> 0:15:18.240 Homeland Security. Under President Trump, attempted illegal border crossings are 0:15:18.280 --> 0:15:21.680 at the lowest levels ever recorded, and over one hundred 0:15:21.720 --> 0:15:25.600 thousand illegal aliens have been arrested. If you are here illegally, 0:15:26.080 --> 0:15:29.440 your next you will be fined nearly one thousand dollars 0:15:29.440 --> 0:15:33.600 a day, imprisoned, and deported. You will never return. But 0:15:33.640 --> 0:15:37.200 if you register using our CBP home app and leave now, 0:15:37.560 --> 0:15:40.680 you could be allowed to return legally. Do what's right, 0:15:41.240 --> 0:15:46.200 leave now. Under President Trump, America's laws border and families 0:15:46.400 --> 0:15:47.240 will be protected. 0:15:47.320 --> 0:15:49.280 Sponsored by the United States Department of Homeland. 0:15:49.080 --> 0:15:52.840 Security highlights some different professionals in different areas of the country, 0:15:53.120 --> 0:15:55.320 especially the law thing, because that's something that you know, 0:15:55.880 --> 0:15:58.040 you depending on what state you live in, you got 0:15:58.080 --> 0:16:01.080 to really use the lawyer as practicing in your state, 0:16:01.120 --> 0:16:02.760 and that could become a little tricky if you live 0:16:02.800 --> 0:16:05.000 in states that you know, we haven't really featured lawyers 0:16:05.040 --> 0:16:08.360 in that state. So okay, yeah, the legal Club, we 0:16:08.360 --> 0:16:10.600 have a legal club actually, so maybe that's something that 0:16:10.640 --> 0:16:13.720 the Legal Club can can can can do. 0:16:14.480 --> 0:16:16.960 And one more quick question I remember you were saying 0:16:17.040 --> 0:16:18.920 that I can I think it was thirteen or fourteen. 0:16:18.920 --> 0:16:23.520 You should put six thousand in a IRA for your child? 0:16:23.600 --> 0:16:26.000 Is that in it? It could be an estimate. I 0:16:26.000 --> 0:16:29.200 think y'all was saying one million. Is that six thousand 0:16:29.200 --> 0:16:32.560 and four when she's fourteen or six thousand every year 0:16:32.600 --> 0:16:34.920 would equate to the estimate. 0:16:35.200 --> 0:16:37.080 Yeah, So what I did when I thought I was 0:16:37.080 --> 0:16:38.400 on a breakfast club when I was, I said that 0:16:38.440 --> 0:16:40.800 a while ago. I was using an example like if 0:16:40.800 --> 0:16:44.160 you put six thousand a year, and from I believe 0:16:44.160 --> 0:16:46.360 it was like the example that I gave was like 0:16:46.400 --> 0:16:50.160 from fourteen to twenty I believe like from fourteen to twenty, 0:16:50.320 --> 0:16:52.880 and I just used a hypothetical like if it earned 0:16:52.920 --> 0:16:55.320 temper cent, I use like QQQ, which you know has 0:16:55.360 --> 0:16:57.680 averaged more than ten percent over the last twenty years. 0:16:57.680 --> 0:16:59.240 But I'm like, all right, if you earned like ten 0:16:59.280 --> 0:17:02.520 percent a year by the time there's sixty, then they 0:17:02.520 --> 0:17:05.280 will have a million dollars. So obviously you know it's 0:17:05.440 --> 0:17:08.280 it's not like one hundred percent guarantee because it depends 0:17:08.320 --> 0:17:10.399 on the market. But that was an example that I 0:17:10.440 --> 0:17:12.359 had gave is to kind of illustrate the power of 0:17:12.400 --> 0:17:14.320 investing early because if you think about it, even if 0:17:14.359 --> 0:17:16.200 it's not six thousand whatever, you can do, but that's 0:17:16.320 --> 0:17:18.800 only like four years or you know, six years of investing, 0:17:19.840 --> 0:17:22.840 and you know, just by the compounding interest and leaving 0:17:22.840 --> 0:17:24.840 it in for such a long period of time, than 0:17:24.880 --> 0:17:26.840 that equals a million dollars without even having to put 0:17:26.840 --> 0:17:29.080 any more money in after the age of twenty. So 0:17:29.520 --> 0:17:31.840 you know, that was just an example of you know, 0:17:31.880 --> 0:17:34.639 the power of compounding interest. And you definitely and I 0:17:34.640 --> 0:17:36.400