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

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Speaker 1: Today we are answering your listener questions. That's right, Joel.

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Speaker 1: We're gonna hear from some listeners today, the listeners who

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Speaker 1: have mailed us some voice memosh. We're gonna answer their questions.

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Speaker 1: They put a stamp on the package they got. Hey,

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Speaker 1: they mailed their phones to us. By the way, you

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Speaker 1: too can send us a voice memo if you have

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Speaker 1: a question for your old iPhone thirteen whatever you want

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Speaker 1: to sign, Joel's gonna start. You're gonna start some of

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Speaker 1: those things left to resign business. But for real, if

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Speaker 1: you have a question for us. Honestly, the weirder the better.

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Speaker 1: We love hearing all sorts of crazy questions that you

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Speaker 1: listeners might have, in particular when it comes to you

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Speaker 1: making a decision that might feel like you're being maybe

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Speaker 1: a little more on the cheap side rather than being frugal,

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Speaker 1: it's always fun to weigh in on those. But Jill,

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Speaker 1: today we have a listener who's asking about the best bank, uh,

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Speaker 1: not just for her personal account but also business accounts.

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Speaker 1: Another listener is asking whether he should pay off some

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Speaker 1: student loans or invest i think that's something that's going

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Speaker 1: to resonate with a lot of folks as well as

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Speaker 1: a listener who has a question about their wireless provider,

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Speaker 1: and specifically it seems like big wireless it's getting more affordable. Yeah,

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Speaker 1: I'm looking forward to talking about that one and get

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Speaker 1: into a couple of others as well, for sure. All right, Yeah,

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Speaker 1: when when the facts on the ground change, If someone,

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Speaker 1: even a company that we have not spoken well of

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Speaker 1: in the past, if they start making better offers, if

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Speaker 1: they start treating their customers better, we will change our

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Speaker 1: tune and we will we will talk better about them,

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Speaker 1: and we will hopefully offer a balance nuanced for you,

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Speaker 1: which we're gonna do on that question. Yea and more today.

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Speaker 1: But but Matt, let's let's I just want to mention

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Speaker 1: real quickly. I don't know about you, but a couple

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Speaker 1: of weeks ago, it felt like everybody and their mom

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Speaker 1: was like deathly ill. There was the flu going around

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Speaker 1: with there's a lot going on COVID and a bunch

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Speaker 1: of just it felt like, talked about your your video

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Speaker 1: tele dooc the video talked about that when one of

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Speaker 1: my kiddos went down. But when and when we had

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Speaker 1: to get and we got a prescription for antibiotics for

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Speaker 1: my daughter to recover from what they thought was trup throats.

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Speaker 1: That was another one of the things going around, big

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Speaker 1: cases of strap going around in the class. But I

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Speaker 1: wanted to mention this. I didn't realize this until I

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Speaker 1: showed up to fill the prescription in person that Publics,

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Speaker 1: which is a local grocery store chain in the Southeast,

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Speaker 1: no longer offers free antibiotics, and that was that was

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Speaker 1: one of the claims to fame for a while. Was like, hey, yeah,

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Speaker 1: if you we we have at least a few free

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Speaker 1: prescriptions that you can feel that are going to cost

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Speaker 1: you a dime. And I thought that was so cool.

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Speaker 1: So at least for antibiotics, I would to Emily Chagrin,

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Speaker 1: I would ask our doctor to send just those prescriptions

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Speaker 1: over the Publics instead of to krogerl which is the

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Speaker 1: closer pharmacy to us. And you're like, all right, baby,

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Speaker 1: head out over there, take care of that. So I

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Speaker 1: went to pick it up in person and then they

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Speaker 1: rang me up for seven dollars and something, and I

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Speaker 1: was like, what happened? I thought antibiotics were free, and

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Speaker 1: they're like, yeah, that we changed that policy in July.

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Speaker 1: I was like, oh, man, I thought it was earlier

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Speaker 1: this year. I didn't realize that. So I don't know

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Speaker 1: why I didn't see anything about it, but I uh,

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Speaker 1: Kroger still charges four dollars for antibiotics, which is good

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Speaker 1: to know. Honestly, I think it's I wonder if they

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Speaker 1: changed it, because I mean, if you put your economists

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Speaker 1: hat on any behavior that you incentivize people to do,

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Speaker 1: you're going to see more of that behavior, more that

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Speaker 1: actually being takend. What they're huting is that you feel

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Speaker 1: an antibiotic there, and that you come back and you

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Speaker 1: feel your other prescriptions there too. But like, I'm not

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Speaker 1: a doctor, Like I'm not a health expert, but when

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Speaker 1: you start to incentivize folks by providing free antibiotics, well,

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Speaker 1: doesn't that seem like it might kind of become like

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Speaker 1: this cure all, Like it's sort of like a baseline

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Speaker 1: thing that's like, well, you got this, maybe some antibotics

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Speaker 1: might help. I think as people start to do the

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Speaker 1: ones prescribing it, they're just offering it for free. Well sure,

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Speaker 1: but even still knowing that they're free. Right, Like we

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Speaker 1: as consumers, we know that they're free, and if you

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Speaker 1: go into the doctor, I think sometimes like that that

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Speaker 1: impacts your decisions a little bit because you know it's free.

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Speaker 1: The doctors in our you know, in town, they know

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Speaker 1: that they're free as well, and so they're like, you know,

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Speaker 1: we can go ahead and do this for you. And

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Speaker 1: again I'm not like a health expert or anything like that,

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Speaker 1: but like as I talked to nurse and doctor friends,

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Speaker 1: like um, antibiotics, they're not necessarily like great, you know

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Speaker 1: it's not good for your damage, you're good for your

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Speaker 1: gut health. Um, literally you need those biotics in your

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Speaker 1: stummach to make sure that you're that you're healthy. Yes,

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Speaker 1: but it's true. But I will say, like when we

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Speaker 1: do need them, it's it stinks that now we're gonna

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Speaker 1: have to pay for him exactly. I totally understand my

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Speaker 1: wife will be thrilled because now she's not driving an

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Speaker 1: extra minutes together, which is honestly probably a cheap, cheap

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Speaker 1: move on my part to drive the extra the extra

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Speaker 1: distance just to get the free versus the four dollar. Well,

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Speaker 1: at least you can swing in there and grab some

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Speaker 1: of those bogs and you can go to a website

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Speaker 1: like good r X as well. I guess if you

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Speaker 1: are looking to get a prescription field, you can go

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Speaker 1: in there entering the medicine that you're looking for and

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Speaker 1: they will provide you the best prices at some of

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Speaker 1: the different pharmacies where wherever it is that you live. Yeah,

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Speaker 1: good r X is definitely one of the best free

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Speaker 1: tools to save money on prescripture for sure. But Matt,

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Speaker 1: let's get on the list of questions. But first, let's

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Speaker 1: also mention the beer. This one is called Wednesday Cat.

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Speaker 1: It's by Yoho Brewing, which is out of Nagao, Japan,

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Speaker 1: which Japanese beer. Yeah, we haven't had a Japanese beer

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Speaker 1: that I know up on the show, but at least

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Speaker 1: not This is like legit Japanese, like straight up japan

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Speaker 1: like Brood in Japan, imported by I don't know. I

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Speaker 1: don't think they have anything to do with the actual brewery,

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Speaker 1: but this is a straight up Japanese beer. I just

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Speaker 1: saw the can art and I was like, this is adorable,

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Speaker 1: and I was like, we have to drink it. And Nagao, Japan,

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Speaker 1: the Olympics were there. What was that was that ninety eight?

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Speaker 1: I don't even know, dude, it was a long time again,

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Speaker 1: but so yeah, we'll give our thoughts on this Belgian

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Speaker 1: style white ale at the end of the episode. Looking

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Speaker 1: forward to it. But let's move on. Let's get to

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Speaker 1: the subject of the hand we're taking. Listen our questions

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Speaker 1: and yes, if you have a question you want to

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Speaker 1: submit to us, how to money dot com slash ask

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Speaker 1: is the place where you can find those simple directions.

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Speaker 1: But Matt, let's get to the first question of this episode.

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Speaker 1: This one is about paying off a student loan or investing. Hello,

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Speaker 1: Matt and Joel, this is Austin from Alabama. Thank you

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Speaker 1: for all the fantastic content you produce. You're always very

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Speaker 1: practical and super helpful. I'm a thirty three year old

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Speaker 1: pediatrician in money Gear six with the only non mortgage

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Speaker 1: debt we have being fifty eight thousand left on my

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Speaker 1: student loans and a small car loan. Before the federal

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Speaker 1: interest pause, the majority of the student loans were occurring

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Speaker 1: five and a half percent interest annually. After investing in

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Speaker 1: tax shelter retirement accounts, we put five per month into

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Speaker 1: a five twenty nine for our children. We aim to

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Speaker 1: be eligible for an HSA next year. The rest of

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Speaker 1: the investment money goes into our taxible brokerage with v

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Speaker 1: T S A X and v T I A X

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Speaker 1: as the primary investments. I'm on track to earn enough

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Speaker 1: of a bonus this year to finish offs to student

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Speaker 1: loans this counter year, which would be great. However, I

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Speaker 1: can't decide if I should pay them off completely or

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Speaker 1: lump some of the bonus into investments while the market

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Speaker 1: is down and keep with regular payments on my student

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Speaker 1: loans once payments resume. My secondary question is about investing.

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Speaker 1: What are your thoughts on converting mutual fund shares with

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Speaker 1: Vanguard for example v T S a X into ET

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Speaker 1: s with Vanguard for example T I to be more

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Speaker 1: efficient from a tax perspective, as Vanguard anounce still start

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Speaker 1: allowing fractional shares of ets soon, So how do you

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Speaker 1: do that without it being a tax ful event for

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Speaker 1: example in our Berkerge account. Thanks again for everything you

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Speaker 1: do and for answering my questions. Thank you and all

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Speaker 1: the best, Austin, all the best to you as well.

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Speaker 1: And before we get to your question, first off, you

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Speaker 1: are making great strides with your personal finances. We had

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Speaker 1: like a round of applause, like sound effects soundboard being

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Speaker 1: in it. I think he said he's in money gear

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Speaker 1: six at age thirty three. That is awesome. Uh. And

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Speaker 1: so the great thing is that our answer to your question,

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Speaker 1: it's it's really about just helping you to optimize even more.

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Speaker 1: It's not going to be necessarily a radical change, a

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Speaker 1: radical difference in your finances, all the heavy lifting that

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Speaker 1: you've already been able to accomplish. It is the most

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Speaker 1: important factor in your success. But you're not alone in

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Speaker 1: wondering about paying off debts versus investing more of your money.

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Speaker 1: We talked a lot about strategic use of debt recently

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Speaker 1: in episode five sixty six. We've think that taking on

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Speaker 1: student loans that it can be reasonable, it can be

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Speaker 1: a strategic approach, uh, even if it can be overdone.

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Speaker 1: It's obviously paid massive dividends for you, Austin. You know

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Speaker 1: that that pediatrician salary, it's typically a pretty great one.

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Speaker 1: And that has definitely helped to propel Austin into money

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Speaker 1: year six, by the way, which is the point at

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Speaker 1: which you beginning to pay off some of those smaller

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Speaker 1: debts like your student loans. So this could certainly be

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Speaker 1: a ripe opportunity for Austin to get those out of

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Speaker 1: his life altogether. Yeah, sure could. And by the way,

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Speaker 1: if you're like money gears, what's that, Well, we've talked

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Speaker 1: about those on the show before and now we probably

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Speaker 1: should talk about those again in depth. Good to refer

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Speaker 1: back to those at the very leads. So that's kind

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Speaker 1: of our order of operations, like how and when you

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Speaker 1: tackle different things in your personal financial life, and so

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Speaker 1: we we we we set it out where do this first,

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Speaker 1: then go this direction, and then then make this happen.

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Speaker 1: We we want you to get the order right because

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Speaker 1: that is going to influence your trajectory and your speed

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Speaker 1: of being able to accomplish your money goals. And if

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Speaker 1: you want to know what they are, you want to read, um,

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Speaker 1: just go to have money dot com, click the start

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Speaker 1: here button and you can see them laid out so

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Speaker 1: you can see, oh, where am I at my money

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Speaker 1: gear six? For my money gear four, but there are

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Speaker 1: seven altogether, which means Austin's moving along. But by the way,

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Speaker 1: the reason we call him money gears is because, like

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Speaker 1: you said, j there's an order of operations and it's

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Speaker 1: an analogy to bike riding. Right. If you are stopped

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Speaker 1: at a stoplight, it turns green, and you are in

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Speaker 1: your fastest gear, it's gonna be really hard to get going,

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Speaker 1: to get moving, especially if there's any kind of incline

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Speaker 1: or if you're going uphill, and so there's a way

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Speaker 1: for you to get the ball rolling, you're gonna see

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Speaker 1: some progress, and with that progress, you're then able to

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Speaker 1: switch to some of those higher, more advanced gears. Exactly.

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Speaker 1: But I like the idea that Austin, by the way,

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Speaker 1: is considering investing that money instead of paying off those loans,

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Speaker 1: especially given the fact that the market is kind of

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Speaker 1: in a slump right He's he's attempting to be a

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Speaker 1: bit of an opportunist here, and I mean that in

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Speaker 1: the best possible way. It sounds like he's still looking

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Speaker 1: to invest for the long term, not just trying to

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Speaker 1: make a quick buck um. And the truth is that

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Speaker 1: investing all the market is on sale, it likely means

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Speaker 1: that there's even more upside that he's going to be

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Speaker 1: able to experience over the years. And we gave some

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Speaker 1: some numbers Matt a couple of weeks ago, but after

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Speaker 1: a drop in the market, future one, three and five

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Speaker 1: year returns are on average significantly higher after we've seen

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Speaker 1: a drop of this magnitude. And so even sticking some

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Speaker 1: money in let's say ibons right that are currently earning

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Speaker 1: six well, that that will technically net him more than

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Speaker 1: paying off the loans that he currently has on hand.

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Speaker 1: So the reason to invest instead of paying off what

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Speaker 1: seems to be a fairly manageable debt for Austin, to me,

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Speaker 1: that makes a lot of sense. It definitely does. Yeah,

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Speaker 1: you know, it would be a bit of a different

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Speaker 1: conversation here if Austin's income was significantly significantly lower, right,

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Speaker 1: or if he wasn't as far along in his wealth

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Speaker 1: building journey. But he set himself up for to have

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Speaker 1: some extra wiggle room here if he wants to take

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Speaker 1: advantage of it, And so much of the answer is

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Speaker 1: going to come down to your personal choice, Austin. It

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Speaker 1: really is going to be all about your your comfort

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Speaker 1: level with his debt hanging around longer, and maybe not

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Speaker 1: even your own comfort level, but maybe that of your

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Speaker 1: partner as well. You gotta take your family into account.

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Speaker 1: But you know, the interest rate of five and a

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Speaker 1: half percent, it's not amazing, but it's also not terrible. Uh,

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Speaker 1: And That's actually what makes this a tough question to answer,

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Speaker 1: because it if it was any higher, I'd probably side

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Speaker 1: with paying off that debt, and if it was any lower,

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Speaker 1: I'd invest all that money, right, And so you're kind

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Speaker 1: of like stuck right in the middle here. It's a

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Speaker 1: tough position to be in. But if you don't have

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Speaker 1: a personal preference, I might up for like a like

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Speaker 1: a more of a Solomon esque solution and split the

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Speaker 1: baby into it's like the burden hand, reducing that debt

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Speaker 1: significantly while also being able to take advantage of this

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Speaker 1: beneficial investing window. It's a way for you to have

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Speaker 1: your cake and eat it too, and not put all

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Speaker 1: of your eggs in one basket. Joeld, do you have

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Speaker 1: any other metaphors over you can run with? Well, that's

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Speaker 1: what's so interesting about personal finances, a question like this,

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Speaker 1: So much of it does come down to your personality

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Speaker 1: what you're gonna do with the money instead. And some

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Speaker 1: people might say, oh, no, I plan to invest this money,

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Speaker 1: like I want to do something good and grow it.

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Speaker 1: Other people might plan on investing the money, they might

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Speaker 1: not get around to it, and if you know, all

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Speaker 1: of a sudden, they've gone on a bunch of cruises. Right,

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Speaker 1: If you neglect to pay off your debt and then

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Speaker 1: you start using it like oh Man for spending, then

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Speaker 1: you've you've basically done the work of both worlds. And

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Speaker 1: so we definitely don't want Austin to do that. But

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Speaker 1: if you're definitely going to invest it, especially in tax

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Speaker 1: advantage accounts, this is likely going to be the best

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Speaker 1: thing for your future. And it sounds like Austin is

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Speaker 1: the kind of guy who's going to stick with what

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Speaker 1: he's planning out like it. I mean, they are pretty

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Speaker 1: far along. He seems very orderly and methodical in his approach.

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Speaker 1: So I appreciate that. So I would say that the

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Speaker 1: route that he's thinking here, it sounds it sounds wise

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Speaker 1: to me. Right, It sounds like he he is maybe

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Speaker 1: taking the solomonic approach. But let's let's talk about that

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Speaker 1: last question that Austin asked to He asked about mutual

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Speaker 1: funds versus e T s. And the reason that Austin

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Speaker 1: is asking is because e T s are a better

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Speaker 1: investing vehicle from a tax standpoint, right, They're they're more

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Speaker 1: tax efficient than traditional mutual funds. But selling and swapping

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Speaker 1: is gonna be a taxable event when done inside of

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Speaker 1: a broker's account. So what I would do is leave

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Speaker 1: your VT SACKS holdings alone and start investing future dollars

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Speaker 1: into v T I, which is the e t F version.

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Speaker 1: And and I'm not sure what interest rate you've got

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Speaker 1: on that car loan by the way, Austin, you mentioned that,

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Speaker 1: but this bonus is probably a great time to at

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Speaker 1: least knock that dead out of your life. I don't know.

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Speaker 1: Maybe maybe that debt's only a two an a half

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Speaker 1: percent as well, And if it's really low, then let

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Speaker 1: that Linger rules apply. But yeah, if typically they tend

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Speaker 1: to be a little bit higher, and at some point

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Speaker 1: you just kind of make you make a choice based

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Speaker 1: on what you know and then also based on your

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Speaker 1: desire to be rid of that debt or not. And

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Speaker 1: so yeah, how how much is this debt weighing on you?

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Speaker 1: It sounds like maybe not not that much if you

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Speaker 1: if you're keen to invest instead of pay it off.

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Speaker 1: And so yeah, you really, like Matt said five acent

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Speaker 1: is this real like difficult middle ground. It's hard to

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Speaker 1: make a right or wrong decision here, But the only

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Speaker 1: wrong decision is to say you're going to going to

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Speaker 1: invest it, but then not do so, not pay off

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Speaker 1: the debt and not invest either. That'd be a bad idea.

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Speaker 1: And again for anybody who does happened, I mean Austin

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Speaker 1: is talking about receiving this bonus. This is man such

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Speaker 1: a great time to be investing. I mean again, we

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Speaker 1: point to the historical returns after there is a recession,

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Speaker 1: after there are larger drawdowns on the market, and I

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Speaker 1: I mean, if you've got a chunk of money to

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Speaker 1: be able to invest, I think they're they're gonna be

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Speaker 1: a lot of millionaires made over the coming couple of years,

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Speaker 1: over the next few years based on the moves that

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Speaker 1: were made. I think this year, Yes, I agree. I

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Speaker 1: think it's one of those things where if you're getting

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Speaker 1: some sort of year in bonus, you're not sure what

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Speaker 1: to do with it. Well, investing in when the market

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Speaker 1: is down. We talked typically about dollar cost averaging, doing

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Speaker 1: it with every paycheck, but Matt, this is the time

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Speaker 1: of year where people are going to be getting lump

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Speaker 1: sums more than they would at any other time of

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Speaker 1: year on average, and so there might be more people

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Speaker 1: with thousands of extra dollars hanging around that. Obviously, be

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Speaker 1: ready to pay the tax bill on on those dollars

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Speaker 1: come April, but invest some of those dollars now. Is

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Speaker 1: a great time to be doing that, exactly all right.

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Speaker 1: We've got several other questions to get to, including a

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Speaker 1: listener who's asking about a way that he can save

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Speaker 1: money on one of his monthly utilities. We will get

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Speaker 1: to that, plus a few others right after this. M

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Speaker 1: All right, let's keep moving on with this listener question.

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Speaker 1: Episode next one comes from a listener who wants a

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Speaker 1: trifecta when it comes to the bank that she chooses

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Speaker 1: to do business with. Hi, Joel and Matt. I'm married

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Speaker 1: from Carl's Bad, California and love listening to your show.

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Speaker 1: I'm a big fan. Through the past year or two.

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Speaker 1: I've heard you both mentioned numerous times to switch from

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Speaker 1: the big banks to online banking, and I'm finally ready

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Speaker 1: to take the plunge. My situation is unique, albeit at

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Speaker 1: one I'm sure many of us encounter. I need an

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Speaker 1: online bank that not only takes care of my personal

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Speaker 1: savings and checking, but we also have an escort business.

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Speaker 1: I find banking at one bank for all my needs

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Speaker 1: helps with moving money around as needed, and I like

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Speaker 1: the ease of going to one bank app We also

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Speaker 1: have three kids, ages nine to fourteen, and they all

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Speaker 1: have bank accounts with debit cards. We are all digital

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Speaker 1: with their allowances. Do you have any recommendations for an

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Speaker 1: online bank that checks off all the boxes personal account,

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Speaker 1: escorp account and allows children to have accounts with debit cards.

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Speaker 1: Thank you and keep up all the amazing content. I've

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Speaker 1: learned so much from you both. All right, well, Mary,

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Speaker 1: thank you for listening in. Congrats by the way, on

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Speaker 1: being willing to kick I guess one of these larger banks,

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Speaker 1: one of these big banks to the curb um of

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Speaker 1: the reason we need that applause button right now. I know, yeah,

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Speaker 1: I mean we we've talked about this before, but leaving

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Speaker 1: the big banks for the far superior online banks is

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Speaker 1: something we highly recommend. And when we say big banks,

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Speaker 1: we're talking about a few specific culprits out there. Bank

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Speaker 1: of America, Wells, Fargo, Chase, and City. Specifically those big four.

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Speaker 1: They don't have a great track record for treating their

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Speaker 1: customers well. Uh, nor of offering accounts that have any

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Speaker 1: meaningful benefits. Uh. You know, it's one thing to have

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Speaker 1: a credit card with one of the big banks, like

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Speaker 1: specifically both Chase and City. They have some awesome cards

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Speaker 1: with some very nice welcome bonuses and cash back rewards.

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Speaker 1: You can actually check out our credit card tool up

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Speaker 1: on the site to easily click can compare the best

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Speaker 1: cash back offerings at how the Money dot Com forward

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Speaker 1: slash credit cards. But it's a completely different ballgame to

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Speaker 1: have the savings or checking account with them. Uh. And

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Speaker 1: actually one of the one of the main reasons that

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Speaker 1: they're able to offer such great credit card bonuses is

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Speaker 1: because they don't offer great rates on their savings accounts.

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Speaker 1: It's because they do charge you unnecessary fees. And so

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Speaker 1: if you're with any of these banks, we would suggest

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Speaker 1: that you do what Mary is doing here, leave those

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Speaker 1: banks completely. Hopefully, even though for the time being we

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Speaker 1: enjoy our credit card rewards, Ideally we would live in

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Speaker 1: a world where they no longer exist because everyone has

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Speaker 1: hopped over and everyone has kind of taken the more

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Speaker 1: frugal approach and avoiding those fees, and they're banking those

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Speaker 1: dollars that they're earning from the higher rates that the

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Speaker 1: banks are paying. Credit Card rewards are kind of sort

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Speaker 1: of like a regressive tax where the people who use

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Speaker 1: the system well, they make out like bandits. And then

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Speaker 1: the people who don't use their credit cards effectively or

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Speaker 1: bank with the big banks keep their savings and checking

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Speaker 1: accounts stash there. They're the ones who are on the

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Speaker 1: losing end of the stick. So yeah, I agree, Matt.

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Speaker 1: In ideal world, if we wanted everything to be balanced,

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Speaker 1: probably wouldn't have any credit card awards and we'd have

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Speaker 1: better rates on savings of those banks. But in fact

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Speaker 1: this them's the rules, and we want you on that

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Speaker 1: winning side of the state. That's kind of how it goes,

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Speaker 1: So act accordingly, and I get Mary's goal of doing

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Speaker 1: all her banking in one spot. I too, like to

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Speaker 1: keep things as easy and as simple as possible. So

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Speaker 1: let's answer a question, Matt, which banks are the best

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Speaker 1: at offering both business and personal accounts? Well, the reality

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Speaker 1: is actually not many banks do both simultaneously. It's like

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Speaker 1: walking and chewing gum. I don't know why that it

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Speaker 1: shouldn't necessarily be difficult to offer both products, but there's

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Speaker 1: just not many banks out there doing all in all

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Speaker 1: of the above approach. I do think that's going to change,

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Speaker 1: Like there are very many options basically, but I do

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Speaker 1: think over the like in the coming years, like why

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Speaker 1: would they not with in particular, with so many folks

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Speaker 1: having started businesses over the past couple of years, and

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Speaker 1: we've seen a massive boom in new business formation, and

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Speaker 1: I think they're gonna be a lot more folks like

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Speaker 1: Mary who are wanting to kind of get everything under

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Speaker 1: one roof. I agree, And so yeah, when it comes

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Speaker 1: to just the business and personal side, m X has

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Speaker 1: a good offering American Express, and so that's one bank

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Speaker 1: that you should check out. The Capital One is is

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Speaker 1: the other major one that you should consider as well,

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Speaker 1: and m X they've got a solid personal savings offering.

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Speaker 1: They pay very competitive rates, and their business checking pays

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Speaker 1: actually a solid rate to return as well. They also

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Speaker 1: don't charge any of this stupid fees. So both personal

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Speaker 1: and business offerings from AMEX are good. But again, Matt, Matt,

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Speaker 1: Mary's looking for this trifecta. She wants all the above.

430
00:19:30,000 --> 00:19:32,240
Speaker 1: She wants accounts for her kids all under that roof

431
00:19:32,280 --> 00:19:34,919
Speaker 1: as well. M X does not offer that, but Capital

432
00:19:34,920 --> 00:19:39,080
Speaker 1: One actually does. Yeah, yeah, the three sixty performance savings

433
00:19:39,119 --> 00:19:41,520
Speaker 1: account offered by Capital One, and you actually you've got

434
00:19:41,520 --> 00:19:44,160
Speaker 1: to choose the performance options. Specifically, there are two different

435
00:19:44,160 --> 00:19:46,159
Speaker 1: savings accounts. I don't know why for the life of me,

436
00:19:46,320 --> 00:19:48,639
Speaker 1: but yeah, they're not the only bank that does this.

437
00:19:48,760 --> 00:19:50,159
Speaker 1: I mean, we we talk a lot about C I

438
00:19:50,200 --> 00:19:53,160
Speaker 1: T for personal savings, and they've got a savings account

439
00:19:53,240 --> 00:19:54,960
Speaker 1: that doesn't offer a great rate, but then they have

440
00:19:55,040 --> 00:19:57,320
Speaker 1: one that does. In their case, it's because there's a

441
00:19:57,400 --> 00:20:00,439
Speaker 1: different not underwriter that's not the right word, but a

442
00:20:00,440 --> 00:20:02,440
Speaker 1: different bank that they've partnered with. I'm pretty sure this

443
00:20:02,480 --> 00:20:04,879
Speaker 1: is how that's being offered. CT is an actual bank,

444
00:20:04,920 --> 00:20:07,439
Speaker 1: but they they merged with another bank earlier this year,

445
00:20:07,480 --> 00:20:09,080
Speaker 1: or maybe it was last year. It's like a legacy thing,

446
00:20:09,200 --> 00:20:11,159
Speaker 1: that's right. Yeah, But so with Capital one, you have

447
00:20:11,240 --> 00:20:13,320
Speaker 1: to offer that performance savings account in order to get

448
00:20:13,320 --> 00:20:16,080
Speaker 1: the higher rate. Uh, it is a great personal account.

449
00:20:16,520 --> 00:20:18,400
Speaker 1: It's one jewel that is this the one that you

450
00:20:18,160 --> 00:20:21,720
Speaker 1: you've you've actually got. I had Capital one three sixty

451
00:20:21,800 --> 00:20:24,720
Speaker 1: back when it was I n G Electric Orange Electric

452
00:20:24,760 --> 00:20:28,160
Speaker 1: Orange Baby same here where you would like they they

453
00:20:28,200 --> 00:20:31,879
Speaker 1: had a digital keypad and you would click the number

454
00:20:32,040 --> 00:20:34,000
Speaker 1: just like you were punching in the pin at like

455
00:20:34,080 --> 00:20:36,160
Speaker 1: an A T M. It was awesome. And then Capital

456
00:20:36,160 --> 00:20:37,800
Speaker 1: One bought I n G and I was like, oh

457
00:20:37,840 --> 00:20:39,600
Speaker 1: my gosh, I hope they don't ruin it. And they didn't.

458
00:20:39,760 --> 00:20:43,200
Speaker 1: They've kept, They've kept at a great bank with competitive offerings.

459
00:20:43,200 --> 00:20:46,200
Speaker 1: We've got good customer service, and so yeah, Capital One

460
00:20:46,920 --> 00:20:49,120
Speaker 1: is still a bank I do business with, and they've

461
00:20:49,160 --> 00:20:51,640
Speaker 1: got we would say, one of the better, more competitive

462
00:20:51,680 --> 00:20:54,080
Speaker 1: savings accounts out there, that's right. Yeah, and they also

463
00:20:54,160 --> 00:20:57,480
Speaker 1: have solid business bank offerings as well. We have a

464
00:20:57,520 --> 00:21:00,960
Speaker 1: free business checking account with them our us here, Joel.

465
00:21:01,440 --> 00:21:03,080
Speaker 1: But then let's talk about the last piece of the

466
00:21:03,119 --> 00:21:05,840
Speaker 1: puzzle as well, Marry, ensuring that your kids that they

467
00:21:05,840 --> 00:21:09,240
Speaker 1: can open accounts at that institution as well. And Capital

468
00:21:09,240 --> 00:21:11,080
Speaker 1: One is probably going to be the winner here because

469
00:21:11,119 --> 00:21:15,760
Speaker 1: they have a really good kids savings account option. Uh,

470
00:21:16,040 --> 00:21:18,080
Speaker 1: you should be able to easily transfer money into their

471
00:21:18,080 --> 00:21:20,520
Speaker 1: accounts inside of that same app. Again, you're looking for

472
00:21:20,520 --> 00:21:23,280
Speaker 1: things to be super super easy here. Um, you can

473
00:21:23,280 --> 00:21:25,879
Speaker 1: even set up regular savings deposits if you have them

474
00:21:25,880 --> 00:21:29,199
Speaker 1: set up on on an allowance, making that automatic. Uh,

475
00:21:29,359 --> 00:21:31,800
Speaker 1: since you've got them on the fully digital plan. But

476
00:21:31,840 --> 00:21:33,480
Speaker 1: in the same breath, I'm gonna be the one that's

477
00:21:33,480 --> 00:21:36,120
Speaker 1: gonna go against the grain here, um, because I think

478
00:21:36,160 --> 00:21:38,320
Speaker 1: it is okay, Like, I know, you want to have

479
00:21:38,359 --> 00:21:40,880
Speaker 1: all your accounts under you know, again, under the same roof,

480
00:21:41,119 --> 00:21:43,639
Speaker 1: but in this case, there aren't. There's not like a

481
00:21:43,640 --> 00:21:45,600
Speaker 1: slam dunk option. I guess that's out there. And with

482
00:21:45,640 --> 00:21:47,639
Speaker 1: that in mind, I would still be willing to have

483
00:21:47,720 --> 00:21:49,679
Speaker 1: some separate accounts. Right, Like we talked about c I

484
00:21:49,760 --> 00:21:51,880
Speaker 1: T in the amazing rates that they're offering on their

485
00:21:51,880 --> 00:21:55,840
Speaker 1: personal savings and checking accounts. There are some greats online

486
00:21:56,359 --> 00:21:59,159
Speaker 1: business accounts only like Blue Vine, they're paying two percent

487
00:21:59,680 --> 00:22:02,000
Speaker 1: on balances in there up to a hundred thousand dollars.

488
00:22:02,160 --> 00:22:04,440
Speaker 1: And So, while I certainly understand the desire for things

489
00:22:04,480 --> 00:22:06,439
Speaker 1: to be to be simplified, to be streamlined, to be

490
00:22:06,480 --> 00:22:09,639
Speaker 1: incredibly easy, uh, in particular, if like when you've got

491
00:22:09,680 --> 00:22:11,880
Speaker 1: a chunk of money set aside, I mean, when we're

492
00:22:11,880 --> 00:22:14,000
Speaker 1: talking about an emergency fund, We've got at least six

493
00:22:14,040 --> 00:22:17,200
Speaker 1: months worth of living expenses set aside, and I want

494
00:22:17,200 --> 00:22:20,600
Speaker 1: that money earning the highest rate possible. And for that reason,

495
00:22:20,640 --> 00:22:23,000
Speaker 1: I'm willing to jump through a few additional hoops to

496
00:22:23,119 --> 00:22:26,960
Speaker 1: kind of have some barriers between those different accounts, which honestly,

497
00:22:27,080 --> 00:22:30,320
Speaker 1: might sometimes be helpful when we're talking about combining money

498
00:22:30,400 --> 00:22:32,840
Speaker 1: between your you know, your personal savings and your business savings.

499
00:22:33,080 --> 00:22:35,560
Speaker 1: Granted their separate accounts, even if they're with the same bank,

500
00:22:35,760 --> 00:22:37,960
Speaker 1: but even having them at separate banks, that might even

501
00:22:38,000 --> 00:22:40,440
Speaker 1: be able to help provide some of that that siloing

502
00:22:40,600 --> 00:22:42,720
Speaker 1: effects where you're able to make sure that that those

503
00:22:42,760 --> 00:22:45,400
Speaker 1: funds don't mingle. And it might make sense for Mary

504
00:22:45,400 --> 00:22:46,920
Speaker 1: to run the numbers like, hey, how much do I

505
00:22:47,000 --> 00:22:48,679
Speaker 1: share heap and saying, I think that's how much am

506
00:22:48,680 --> 00:22:51,080
Speaker 1: I giving up by putting everything under one roof? Am

507
00:22:51,080 --> 00:22:54,399
Speaker 1: I giving up a better rate on the small business savings? Right?

508
00:22:54,480 --> 00:22:58,320
Speaker 1: The money that I have stocked away for future business use?

509
00:22:58,720 --> 00:23:00,240
Speaker 1: How much do you have in there? Do you have

510
00:23:00,240 --> 00:23:01,840
Speaker 1: a few thousand dollars in there? Or do you have

511
00:23:02,160 --> 00:23:04,359
Speaker 1: twenty five thou dollars sitting around in there? That that

512
00:23:04,440 --> 00:23:06,560
Speaker 1: where you've been missing out on a significant return on

513
00:23:06,640 --> 00:23:08,720
Speaker 1: that money. I would run the numbers and say, all right,

514
00:23:08,800 --> 00:23:11,440
Speaker 1: is it is it really worth giving up eighty dollars

515
00:23:11,440 --> 00:23:15,040
Speaker 1: a year in potential interest by combining everything under one roof,

516
00:23:15,080 --> 00:23:16,639
Speaker 1: because that's how much simpler it's going to make my

517
00:23:16,680 --> 00:23:18,920
Speaker 1: life that's probably a good way to approach this, Mary

518
00:23:19,040 --> 00:23:21,040
Speaker 1: love it. And and depending on how you use you account,

519
00:23:21,080 --> 00:23:23,040
Speaker 1: we think that really either of these could be great choices.

520
00:23:23,080 --> 00:23:25,480
Speaker 1: But Capital One really is the only one we know

521
00:23:25,520 --> 00:23:27,440
Speaker 1: of that's going to be able to combine everything under

522
00:23:27,480 --> 00:23:30,800
Speaker 1: one umbrella. Again, for some reason, these banks they're reticent

523
00:23:30,840 --> 00:23:33,959
Speaker 1: to offer all the above accounts. But yeah, Capital One

524
00:23:34,000 --> 00:23:35,760
Speaker 1: they do. They do a great job, and and they're

525
00:23:35,800 --> 00:23:37,639
Speaker 1: they're by far the best we know of when it

526
00:23:37,680 --> 00:23:39,720
Speaker 1: comes to this full suite of account offerings. And it

527
00:23:39,760 --> 00:23:42,239
Speaker 1: sounds like they're the only bank at least that's on

528
00:23:42,280 --> 00:23:44,719
Speaker 1: our radar that does all three. Well, all right, Joe,

529
00:23:44,760 --> 00:23:47,360
Speaker 1: let's keep moving. Let's get to our next question. This

530
00:23:47,400 --> 00:23:50,240
Speaker 1: listener has had an item on his financial to do

531
00:23:50,359 --> 00:23:52,639
Speaker 1: list for a while now, and it actually seems like

532
00:23:52,680 --> 00:23:54,840
Speaker 1: he might not have to do that the rules of

533
00:23:54,880 --> 00:23:57,600
Speaker 1: the game have changed. Let's hear his question. Hey guys,

534
00:23:57,680 --> 00:24:00,000
Speaker 1: this is KNOWL from Peachtree City, Georgia. I'm a big

535
00:24:00,000 --> 00:24:02,560
Speaker 1: fan of the show. I've got a question about Verizon

536
00:24:02,680 --> 00:24:05,680
Speaker 1: versus Visible. I've been with Verizon for over ten years

537
00:24:05,720 --> 00:24:07,800
Speaker 1: and planning on switching to Visible for a while now,

538
00:24:08,160 --> 00:24:11,359
Speaker 1: but Verizon just began offering a plan called Welcome Unlimited,

539
00:24:11,480 --> 00:24:14,000
Speaker 1: where they offer four lines with unlimited talk, text, and

540
00:24:14,080 --> 00:24:17,160
Speaker 1: data for thirty dollars per month. Visible is also thirty

541
00:24:17,200 --> 00:24:19,639
Speaker 1: dollars per month with unlimited talk, text and data, but

542
00:24:19,720 --> 00:24:22,399
Speaker 1: includes a mobile hotspot. It's cool, but not required for

543
00:24:22,440 --> 00:24:24,680
Speaker 1: our family. I haven't been able to get a straight

544
00:24:24,720 --> 00:24:27,040
Speaker 1: answer from anyone on what the real differences are between

545
00:24:27,040 --> 00:24:30,000
Speaker 1: the two services other than Visible does not include roaming,

546
00:24:30,040 --> 00:24:31,960
Speaker 1: which could be an issue and the speed may be

547
00:24:32,040 --> 00:24:35,320
Speaker 1: throttled back in congested areas. Do you'all have an insight

548
00:24:35,440 --> 00:24:37,280
Speaker 1: on if I should make the switch to Visible or

549
00:24:37,280 --> 00:24:41,000
Speaker 1: stay with Verizon. Any thoughts would be greatly appreciated. Also,

550
00:24:41,400 --> 00:24:43,600
Speaker 1: I think I heard y'all review Kickstand from Mine Creek

551
00:24:43,600 --> 00:24:46,240
Speaker 1: Brewing Company, but if you tried the Real Deal, it

552
00:24:46,320 --> 00:24:48,760
Speaker 1: may be a little less dilly than the last Dolly reviewed.

553
00:24:49,359 --> 00:24:51,679
Speaker 1: Lion Creek also has a weekly bike ride Thursdays at

554
00:24:51,680 --> 00:24:53,800
Speaker 1: six thirty pm. You should make the track down to

555
00:24:53,840 --> 00:24:57,119
Speaker 1: the south Side sometime. Cheers the Real Deal. What do

556
00:24:57,119 --> 00:24:58,399
Speaker 1: you think about that, Joel? I don't know if I

557
00:24:58,440 --> 00:25:01,640
Speaker 1: can handle you. If it is less dilly, maybe maybe

558
00:25:01,680 --> 00:25:03,480
Speaker 1: I can get behind it. But I don't know. It's

559
00:25:03,520 --> 00:25:05,280
Speaker 1: it's not going to be high listen to check out.

560
00:25:05,320 --> 00:25:06,920
Speaker 1: I don't know if there is a I can't. I

561
00:25:06,920 --> 00:25:08,119
Speaker 1: don't know if I can think of the beer that

562
00:25:08,160 --> 00:25:11,040
Speaker 1: you've drain poured. Uh and that was not that was

563
00:25:11,080 --> 00:25:13,720
Speaker 1: not one that you that you finished. Yeah, it was

564
00:25:14,119 --> 00:25:16,119
Speaker 1: very pickle juicy, Yes it was. It was too much

565
00:25:16,119 --> 00:25:17,680
Speaker 1: for me. Sorry, sorry about that. I think it was

566
00:25:17,720 --> 00:25:19,400
Speaker 1: Actually I don't I didn't even drink the rest of mine.

567
00:25:19,480 --> 00:25:21,199
Speaker 1: Even I was talking like a big talk, but at

568
00:25:21,240 --> 00:25:22,719
Speaker 1: the end of it, there's just like a little bit

569
00:25:22,760 --> 00:25:24,600
Speaker 1: left that had kind of warmed up. I tossed it.

570
00:25:24,600 --> 00:25:29,159
Speaker 1: It's like the concentrated section. Is it even more like pickles? Yeah? Well,

571
00:25:29,200 --> 00:25:31,040
Speaker 1: I like what you said, Matt in the leading to

572
00:25:31,080 --> 00:25:33,679
Speaker 1: this question. You made it sound like maybe, just maybe

573
00:25:33,840 --> 00:25:36,880
Speaker 1: Noel's procrastination is going to help him come out ahead here.

574
00:25:36,960 --> 00:25:39,720
Speaker 1: It's one of the few times we're waiting paid off, right,

575
00:25:39,760 --> 00:25:41,800
Speaker 1: and so that that might be the case here. But

576
00:25:41,840 --> 00:25:43,920
Speaker 1: and and by the way, Noel, thanks for the invite

577
00:25:43,960 --> 00:25:45,640
Speaker 1: for the bike ride. Might have to make that happen

578
00:25:45,680 --> 00:25:48,520
Speaker 1: at some point, but he's he is not alone, by

579
00:25:48,520 --> 00:25:50,919
Speaker 1: the way, in being a Verizon customer. They have about

580
00:25:50,960 --> 00:25:53,560
Speaker 1: a third of the cell phone business in the country.

581
00:25:54,040 --> 00:25:57,320
Speaker 1: So this is this is massive company who is just

582
00:25:57,480 --> 00:26:00,760
Speaker 1: raking in dollars hand over fist, and they haven't been

583
00:26:00,800 --> 00:26:03,840
Speaker 1: incredibly keen to compete on price because they are the

584
00:26:03,840 --> 00:26:06,040
Speaker 1: big advertisers, they're the big company. Everybody wants to be

585
00:26:06,040 --> 00:26:07,600
Speaker 1: with them, kind of like the big banks. They're not

586
00:26:07,640 --> 00:26:11,480
Speaker 1: incentivized to compete on interest rates and in customer service

587
00:26:11,560 --> 00:26:15,240
Speaker 1: and interface because I guess what it inertia bias keeps

588
00:26:15,240 --> 00:26:18,359
Speaker 1: people uh doing business with him. And so we would

589
00:26:18,359 --> 00:26:20,960
Speaker 1: say that that has a lot of preponderance as well

590
00:26:21,040 --> 00:26:23,480
Speaker 1: to do with corporate accounts, right, and those people have

591
00:26:23,600 --> 00:26:26,919
Speaker 1: very little price sensitivity. If you're paying for hundreds of

592
00:26:26,920 --> 00:26:29,520
Speaker 1: different cell phone accounts as a big business, you might

593
00:26:29,560 --> 00:26:31,480
Speaker 1: not have shopped that rate in a long time, although

594
00:26:31,520 --> 00:26:33,640
Speaker 1: you should, but businesses just kind of tend to keep

595
00:26:33,640 --> 00:26:36,119
Speaker 1: this out as quo and for a lot of years,

596
00:26:36,119 --> 00:26:39,200
Speaker 1: being a Verizon customer has been problematic, at least from

597
00:26:39,240 --> 00:26:41,520
Speaker 1: a price standpoint map. But that appears to not be

598
00:26:41,560 --> 00:26:44,320
Speaker 1: the case nearly as much anymore. That's right, that's true. Yeah,

599
00:26:44,359 --> 00:26:47,560
Speaker 1: that has been Verizon's m oh, but it does appear

600
00:26:47,600 --> 00:26:50,840
Speaker 1: that Verizon finally seems to be competing on price, at

601
00:26:50,920 --> 00:26:52,679
Speaker 1: least with some of their plans, Like you still have

602
00:26:52,720 --> 00:26:54,240
Speaker 1: to scroll all the way down to the bottom of

603
00:26:54,240 --> 00:26:56,600
Speaker 1: the Verizon page. You gotta pass all the other more

604
00:26:56,720 --> 00:26:59,760
Speaker 1: premium plans, all the ones that include like the Disney

605
00:26:59,800 --> 00:27:02,240
Speaker 1: Plus bundle, like all the different things that they're trying

606
00:27:02,280 --> 00:27:05,800
Speaker 1: to include in order to find the basic welcome unlimited

607
00:27:05,840 --> 00:27:08,040
Speaker 1: plan that Noll mentioned. But if you're looking to have

608
00:27:08,359 --> 00:27:11,520
Speaker 1: four lines of service, then you're pricing that budget range.

609
00:27:11,920 --> 00:27:14,359
Speaker 1: And I guarantee that they're offering this plan specifically in

610
00:27:14,440 --> 00:27:17,200
Speaker 1: order to compete with the likes of Visible And actually,

611
00:27:17,440 --> 00:27:19,600
Speaker 1: if you Look Visible is kind of their own offering

612
00:27:19,640 --> 00:27:23,040
Speaker 1: to so. But I guess it is the mint Mobiles

613
00:27:23,040 --> 00:27:25,199
Speaker 1: of this world. The other companies out there who are

614
00:27:25,240 --> 00:27:29,240
Speaker 1: offering discounted plans like Verizon wants and their compete brand

615
00:27:29,280 --> 00:27:32,239
Speaker 1: and off brand competitor making waves like Visible. But then

616
00:27:32,240 --> 00:27:34,200
Speaker 1: they also want an on brand competitor now. They want

617
00:27:34,240 --> 00:27:37,720
Speaker 1: to be able to appeal to everybody exactly. Yeah. And

618
00:27:37,800 --> 00:27:39,720
Speaker 1: the other cool thing too is I was messing with

619
00:27:39,720 --> 00:27:42,480
Speaker 1: it earlier. And if you or someone else out there,

620
00:27:42,520 --> 00:27:45,720
Speaker 1: if they've got five lines, that they're looking to get

621
00:27:45,840 --> 00:27:48,240
Speaker 1: hooked up with Verizon, You're actually gonna be able to

622
00:27:48,240 --> 00:27:50,399
Speaker 1: lower that price down from thirty dollars a month to

623
00:27:50,480 --> 00:27:53,680
Speaker 1: twenty five dollars a month, which is even more affordable

624
00:27:53,680 --> 00:27:55,840
Speaker 1: than Visible. It's crazy that we would ever say this,

625
00:27:55,920 --> 00:27:58,879
Speaker 1: but you've got a big name like Verizon, with all

626
00:27:58,920 --> 00:28:01,040
Speaker 1: you know, with all the marketing the ad spends, that

627
00:28:01,080 --> 00:28:03,680
Speaker 1: they are now offering a product. They are now offering

628
00:28:03,840 --> 00:28:06,680
Speaker 1: service at a price point that is at this point

629
00:28:06,720 --> 00:28:09,399
Speaker 1: at least beating Visible at a thrown game. Yeah, and

630
00:28:09,560 --> 00:28:11,879
Speaker 1: when the facts on the ground change, we are we

631
00:28:11,920 --> 00:28:14,119
Speaker 1: are more than happy to change our minds. If Verizon

632
00:28:14,119 --> 00:28:16,520
Speaker 1: starts singing a different tune, they start singing the discount tune,

633
00:28:16,640 --> 00:28:19,320
Speaker 1: We're going to great, you might you might want to

634
00:28:19,320 --> 00:28:21,600
Speaker 1: consider doing business with the Verizon. And that might be

635
00:28:21,640 --> 00:28:23,359
Speaker 1: true for a lot of people, especially if you're looking

636
00:28:23,680 --> 00:28:26,240
Speaker 1: to bring over four or five lines. But while we're

637
00:28:26,240 --> 00:28:29,080
Speaker 1: talking about price, Matt, let's mention other places that Noel

638
00:28:29,080 --> 00:28:32,840
Speaker 1: could potentially save, because we'd also say that if having

639
00:28:32,960 --> 00:28:36,159
Speaker 1: Verizon service isn't a big deal where you live, opting

640
00:28:36,200 --> 00:28:38,520
Speaker 1: to go with Mintmobile like I mentioned or Google five

641
00:28:38,520 --> 00:28:41,000
Speaker 1: could be a smart move, saving you even more money

642
00:28:41,000 --> 00:28:43,560
Speaker 1: on a recurring monthly basis, and it might be worth

643
00:28:43,600 --> 00:28:45,800
Speaker 1: reconsidering just how much data you actually need. Maybe you

644
00:28:45,840 --> 00:28:48,120
Speaker 1: don't actually need unlimited because I think most people opt

645
00:28:48,120 --> 00:28:50,240
Speaker 1: for that because they're not sure how much data they're using.

646
00:28:50,280 --> 00:28:51,800
Speaker 1: In their word, what if I do go over in

647
00:28:51,840 --> 00:28:54,080
Speaker 1: a given month, We'll look at your usage history, like

648
00:28:54,480 --> 00:28:55,760
Speaker 1: is that a problem? Have you done that in the

649
00:28:55,800 --> 00:28:58,160
Speaker 1: past twelve months? Or would you be able to get

650
00:28:58,200 --> 00:29:01,040
Speaker 1: by just fine with Mints four game plan for just

651
00:29:01,080 --> 00:29:04,040
Speaker 1: fifteen bucks a month. That alone could save you seven

652
00:29:04,760 --> 00:29:07,400
Speaker 1: dollars a year. Not an insufficient sum of money. But

653
00:29:07,840 --> 00:29:10,440
Speaker 1: if you know that you need unlimited data, there's another

654
00:29:10,480 --> 00:29:12,760
Speaker 1: option that might be the best out there, And we

655
00:29:12,760 --> 00:29:15,560
Speaker 1: would say Google five has the best deal on the

656
00:29:15,600 --> 00:29:18,280
Speaker 1: market when it comes to unlimited plans with multiple lines.

657
00:29:18,640 --> 00:29:21,560
Speaker 1: They're simply unlimited plan is only eighty bucks a month

658
00:29:21,800 --> 00:29:25,040
Speaker 1: for four lines twenty bucks apiece, still saving you nearly

659
00:29:26,160 --> 00:29:28,640
Speaker 1: a year. So if the Google five service works for

660
00:29:28,680 --> 00:29:30,960
Speaker 1: you how you guys use your cell phones, it's worth

661
00:29:30,960 --> 00:29:33,480
Speaker 1: strongly considering making the switch over there because it's a

662
00:29:33,560 --> 00:29:36,000
Speaker 1: great product and the price. I don't know when they

663
00:29:36,040 --> 00:29:37,800
Speaker 1: updated that it was probably four or five months ago.

664
00:29:37,840 --> 00:29:39,960
Speaker 1: We wrote about it on our site. The price is

665
00:29:40,080 --> 00:29:43,480
Speaker 1: just spectacular when it comes to an unlimited family plan

666
00:29:44,040 --> 00:29:46,560
Speaker 1: Google fives like hitting on all cylinders of that one. Yeah,

667
00:29:46,600 --> 00:29:49,280
Speaker 1: and so not only like you mentioned, Joel, like reassessing,

668
00:29:49,360 --> 00:29:53,960
Speaker 1: reconsidering the amount of actual data that you need, it's

669
00:29:54,000 --> 00:29:56,920
Speaker 1: also worth reconsidering the coverage that you need, right like

670
00:29:56,960 --> 00:29:59,600
Speaker 1: it used to be maybe maybe before you needed to

671
00:29:59,640 --> 00:30:03,000
Speaker 1: have that Verizon coverage because the other providers hadn't expanded

672
00:30:03,040 --> 00:30:05,320
Speaker 1: yet to wherever it is that you live. But really,

673
00:30:05,320 --> 00:30:07,960
Speaker 1: like check those maps, ask around, ask your neighbors, see

674
00:30:08,280 --> 00:30:10,880
Speaker 1: who they have, what their service looks like, because it

675
00:30:11,000 --> 00:30:14,360
Speaker 1: might be more feasible for you to switch with somebody

676
00:30:14,400 --> 00:30:16,040
Speaker 1: like Google five or Mint Mobile and a lot of

677
00:30:16,040 --> 00:30:19,480
Speaker 1: these NB and O providers mobile virtual network operators, which

678
00:30:19,480 --> 00:30:22,040
Speaker 1: is what Visible is, which is what Mint is. They're

679
00:30:22,040 --> 00:30:27,320
Speaker 1: operating on on the same network that the big guys. Yeah,

680
00:30:27,320 --> 00:30:30,000
Speaker 1: so you asked a Visible versus Verizon question. But we

681
00:30:30,280 --> 00:30:33,280
Speaker 1: may have added a bit more complexity to your decision. Noal,

682
00:30:33,720 --> 00:30:35,880
Speaker 1: But now let's assume that you've done the research and

683
00:30:35,920 --> 00:30:38,600
Speaker 1: you definitely need the Verizon network and you definitely want

684
00:30:38,600 --> 00:30:41,600
Speaker 1: the unlimited data. And so the question now is is

685
00:30:41,640 --> 00:30:45,080
Speaker 1: the discount network is it worse than the quote unquote

686
00:30:45,160 --> 00:30:47,800
Speaker 1: name brand network. I feel like that's basically what you're

687
00:30:47,800 --> 00:30:50,240
Speaker 1: asking here. Uh. And even though we don't have personal

688
00:30:50,280 --> 00:30:52,720
Speaker 1: experience with Visible, from everything that we've read, everything that

689
00:30:52,760 --> 00:30:56,800
Speaker 1: we've heard, it is identical in coverage. Uh. Joe and I,

690
00:30:56,840 --> 00:30:59,480
Speaker 1: we are both with Mint mint Mobile, which operates on

691
00:31:00,160 --> 00:31:02,880
Speaker 1: Mobiles Network. They are t Mobiles m v n O,

692
00:31:03,360 --> 00:31:05,560
Speaker 1: and we have never had any issues with our speed

693
00:31:05,600 --> 00:31:09,000
Speaker 1: getting throttled or with having you know, weird coverage issues

694
00:31:09,040 --> 00:31:12,240
Speaker 1: or anything like that. So if you ever do decide

695
00:31:12,280 --> 00:31:15,280
Speaker 1: to jump ship for Visible, maybe you know, if they

696
00:31:15,320 --> 00:31:19,080
Speaker 1: offer an even more competitive plan. Now that Verizon they've

697
00:31:19,080 --> 00:31:21,840
Speaker 1: moved their chess piece and Visibles, they're they're sitting there

698
00:31:21,840 --> 00:31:23,400
Speaker 1: looking at the board and they're like, all right, I

699
00:31:23,440 --> 00:31:25,920
Speaker 1: know it's probably the same executives in charge of those panels.

700
00:31:25,960 --> 00:31:28,680
Speaker 1: That's this is how the game is played. Though, if

701
00:31:28,720 --> 00:31:31,000
Speaker 1: they do have something that that looks more attractive in

702
00:31:31,000 --> 00:31:34,600
Speaker 1: the future, I wouldn't have any hesitation myself switching because

703
00:31:34,880 --> 00:31:38,520
Speaker 1: you know, thinking that there might be inferior or limited coverage. Yeah,

704
00:31:38,520 --> 00:31:40,440
Speaker 1: and this is another example of all the effect of

705
00:31:40,440 --> 00:31:43,720
Speaker 1: the spirit effect, Maunt. It just seems like the ultra

706
00:31:43,760 --> 00:31:46,600
Speaker 1: competitive low cost carriers come in and they set the

707
00:31:46,600 --> 00:31:48,800
Speaker 1: bar and then everybody else has to compete on price.

708
00:31:48,800 --> 00:31:52,520
Speaker 1: Whereas before there was just not enough competition in the space.

709
00:31:52,760 --> 00:31:55,200
Speaker 1: In the cell phone space, there's a lot of competition

710
00:31:55,240 --> 00:31:56,959
Speaker 1: and there are a lot of great companies vuying for

711
00:31:56,960 --> 00:32:00,000
Speaker 1: your dollars and vying for a lot less of your

712
00:32:00,040 --> 00:32:02,360
Speaker 1: money now than there were five, six, seven years ago,

713
00:32:02,400 --> 00:32:05,000
Speaker 1: which is great. So no, you have an abundance of options.

714
00:32:05,160 --> 00:32:07,520
Speaker 1: But again that Google fin one is definitely worth considering.

715
00:32:07,880 --> 00:32:11,200
Speaker 1: So best of luck making the right call. And yeah,

716
00:32:11,240 --> 00:32:13,800
Speaker 1: the good thing is that there's no no contract either, Matt.

717
00:32:13,840 --> 00:32:15,680
Speaker 1: With with any of these choices, that used to be

718
00:32:15,720 --> 00:32:17,440
Speaker 1: something that would rope you in for a year or

719
00:32:17,480 --> 00:32:20,280
Speaker 1: two or longer. And you know, the thing is, with

720
00:32:20,320 --> 00:32:23,080
Speaker 1: Mint you are paying for months of service up front,

721
00:32:23,240 --> 00:32:25,120
Speaker 1: but with Google five Man you can back out whenever

722
00:32:25,160 --> 00:32:26,560
Speaker 1: you want. If it's not working for you, you you can

723
00:32:26,560 --> 00:32:28,280
Speaker 1: give it a shot. When I think with Mint you

724
00:32:28,320 --> 00:32:30,960
Speaker 1: have a seven day free trial as well, So either way,

725
00:32:31,040 --> 00:32:33,240
Speaker 1: no harm, no foul, Give one of those shots, see

726
00:32:33,280 --> 00:32:35,080
Speaker 1: if you can save some money, and if not. You're

727
00:32:35,080 --> 00:32:37,479
Speaker 1: not paying too much extra staying with Verizon, and if

728
00:32:37,480 --> 00:32:39,800
Speaker 1: you like the service, you're comfortable there, and they're offering

729
00:32:39,800 --> 00:32:42,360
Speaker 1: you a fairly competitive rate, which it sounds like they

730
00:32:42,440 --> 00:32:45,440
Speaker 1: are offering that. Now. It's great news. I think. Really

731
00:32:45,440 --> 00:32:47,560
Speaker 1: what we're saying is this isn't nearly as big of

732
00:32:47,560 --> 00:32:49,600
Speaker 1: a decision, as big of a deal as it used

733
00:32:49,600 --> 00:32:52,440
Speaker 1: to be. That's right, So no best of luck to you,

734
00:32:52,520 --> 00:32:55,040
Speaker 1: and we will definitely put out the bat signal if

735
00:32:55,040 --> 00:32:58,160
Speaker 1: we are ever down that way in Peachtree City, either

736
00:32:58,320 --> 00:33:00,640
Speaker 1: at a brewery or a bike r the Bat signal

737
00:33:00,720 --> 00:33:03,720
Speaker 1: or the Matt signal either way, that how the money signal.

738
00:33:04,440 --> 00:33:06,680
Speaker 1: We've got a couple other questions to get to, including

739
00:33:06,840 --> 00:33:10,440
Speaker 1: one about, uh, the problem with having too much money

740
00:33:10,520 --> 00:33:12,280
Speaker 1: in your account. Will get to that one plus another

741
00:33:12,480 --> 00:33:24,360
Speaker 1: right after this. We got a couple more questions to

742
00:33:24,360 --> 00:33:27,760
Speaker 1: get to on this ask out of Money episode, and Matt,

743
00:33:27,800 --> 00:33:30,280
Speaker 1: you're right, we we do not get many questions with

744
00:33:30,320 --> 00:33:33,040
Speaker 1: people who have too much money flying around and like,

745
00:33:33,080 --> 00:33:35,480
Speaker 1: hey guys, what do I do I've I've gotten over

746
00:33:35,520 --> 00:33:38,200
Speaker 1: abundance of funds. Well, this that's actually kind of what

747
00:33:38,240 --> 00:33:39,800
Speaker 1: this question has to deal with. Let's get to it.

748
00:33:40,760 --> 00:33:44,080
Speaker 1: I meant, Joel, this is my coming from Illinois. First,

749
00:33:44,160 --> 00:33:46,960
Speaker 1: thanks for the great show and all the wonderful advice

750
00:33:47,000 --> 00:33:49,200
Speaker 1: that you've been giving over the years. I really appreciate it.

751
00:33:49,840 --> 00:33:53,320
Speaker 1: My question is about roth I RAS, and I guess

752
00:33:53,320 --> 00:33:57,760
Speaker 1: retirement accounts in general. What do you do when they

753
00:33:57,840 --> 00:34:02,240
Speaker 1: reach beyond the limits? Because if you are providing for

754
00:34:02,280 --> 00:34:06,600
Speaker 1: your own retirement, you will definitely have substantially more than

755
00:34:06,640 --> 00:34:10,400
Speaker 1: that at the end of the time. So how do

756
00:34:10,440 --> 00:34:13,080
Speaker 1: you protect yourself when the balance starts to grow larger

757
00:34:13,120 --> 00:34:16,760
Speaker 1: than the two limit? Is there some kind of strategy

758
00:34:16,800 --> 00:34:20,120
Speaker 1: to use? Should you break it up into multiple accounts

759
00:34:20,239 --> 00:34:22,960
Speaker 1: or do you just have to trust that the company

760
00:34:22,960 --> 00:34:25,680
Speaker 1: will be fine. It feels kind of risky to me

761
00:34:26,320 --> 00:34:29,680
Speaker 1: unless there's some kind of insurance that I'm unaware of.

762
00:34:30,000 --> 00:34:32,640
Speaker 1: So any advice you could give I would greatly appreciate it.

763
00:34:33,480 --> 00:34:37,839
Speaker 1: Uh and thanks for again for everything that you do. Cheers, cheers, Mike.

764
00:34:37,880 --> 00:34:40,719
Speaker 1: We appreciate you listening to the show, and you've got

765
00:34:40,760 --> 00:34:43,879
Speaker 1: a good question here. You're right, We do hope that

766
00:34:44,160 --> 00:34:48,040
Speaker 1: how many listeners are investing enough money to amass more

767
00:34:48,320 --> 00:34:51,520
Speaker 1: than two and fifty in their retirement accounts by the

768
00:34:51,560 --> 00:34:54,160
Speaker 1: time that they retire. And you're also right that it's

769
00:34:54,200 --> 00:34:57,680
Speaker 1: important to consider the risk that gets posed to your money,

770
00:34:57,680 --> 00:35:00,319
Speaker 1: to your dollars as your net worth does start to

771
00:35:00,320 --> 00:35:04,200
Speaker 1: become substantial. What is known as s I p C insurance.

772
00:35:04,480 --> 00:35:06,880
Speaker 1: It actually functions incredibly similar to f D I C

773
00:35:07,200 --> 00:35:10,600
Speaker 1: insurance for your savings accounts. That's what most folks typically

774
00:35:10,640 --> 00:35:13,240
Speaker 1: see the f D i C, but that only applies

775
00:35:13,320 --> 00:35:16,400
Speaker 1: to bank accounts, not investment accounts. But that is what

776
00:35:16,480 --> 00:35:19,200
Speaker 1: investors are covered by the s I p C. So, yeah,

777
00:35:19,280 --> 00:35:21,160
Speaker 1: let's kind of dive into that. Let's discuss how it

778
00:35:21,239 --> 00:35:22,920
Speaker 1: is that it works and what it is that you

779
00:35:22,960 --> 00:35:25,560
Speaker 1: need to do in order to make sure that your

780
00:35:25,640 --> 00:35:29,200
Speaker 1: retirement accounts are protected. Yeah, and f D I C

781
00:35:29,400 --> 00:35:31,520
Speaker 1: is a little more straightforward, two or fifty K per

782
00:35:31,560 --> 00:35:34,480
Speaker 1: institution typically and having multiple same mus accounts isn't as

783
00:35:34,480 --> 00:35:36,279
Speaker 1: big of a deal. But you're right, like when you're

784
00:35:36,280 --> 00:35:39,080
Speaker 1: talking about investment accounts, the kind of money that how

785
00:35:39,080 --> 00:35:41,799
Speaker 1: the money listeners are shocking away, Matt. They might run

786
00:35:41,880 --> 00:35:44,319
Speaker 1: up against these limits. Hopefully they will write the further

787
00:35:44,320 --> 00:35:46,640
Speaker 1: along they get in their wealth building journey, and s

788
00:35:46,680 --> 00:35:48,560
Speaker 1: I p C by the way. They call it CIPPIC

789
00:35:48,719 --> 00:35:51,600
Speaker 1: for short. If I don't know, if you're into that, Yeah,

790
00:35:52,040 --> 00:35:54,520
Speaker 1: it's s i PC. Yeah. No, CIPPIC not something I

791
00:35:54,880 --> 00:35:56,520
Speaker 1: like talk much about, even though I guess we're talking

792
00:35:56,560 --> 00:35:58,200
Speaker 1: about it now. So it's kind of like CIPPIC. Let's

793
00:35:58,200 --> 00:36:00,400
Speaker 1: do it v r b O di verbo. It's but

794
00:36:00,480 --> 00:36:05,279
Speaker 1: like fd I C. It's not like it's just fd

795
00:36:05,360 --> 00:36:07,480
Speaker 1: I C Yeah, f d I C insured. Yeah, but

796
00:36:07,719 --> 00:36:10,000
Speaker 1: we can if you want, say cific no need, let's

797
00:36:10,040 --> 00:36:13,200
Speaker 1: do it. Well, we're a green to it right now. Okay,

798
00:36:13,239 --> 00:36:15,359
Speaker 1: from henceforth, Okay, we'll do it. We will join the throng.

799
00:36:15,480 --> 00:36:18,359
Speaker 1: Sounds good. Let's talk about let's talk about A stands

800
00:36:18,360 --> 00:36:22,239
Speaker 1: for it stands for Securities Investor Protection Corporation. And just

801
00:36:22,320 --> 00:36:27,680
Speaker 1: like FITTIC, Uh, they didn't agree to that job. Sorry,

802
00:36:27,719 --> 00:36:30,360
Speaker 1: but that that was basically brought about to instill confidence

803
00:36:30,520 --> 00:36:33,480
Speaker 1: in in the banking system, and and CIPPIC attempts to

804
00:36:33,480 --> 00:36:36,319
Speaker 1: do the same thing for investors. No depositor has lost

805
00:36:36,400 --> 00:36:40,200
Speaker 1: a cent in an fd i C insured account basically

806
00:36:40,239 --> 00:36:42,840
Speaker 1: over a hundred years matter or close to a hundred years.

807
00:36:42,880 --> 00:36:45,160
Speaker 1: And SIPPIC has been around for just over fifty years.

808
00:36:45,160 --> 00:36:47,359
Speaker 1: Now and it can basically make the same claim. It's

809
00:36:47,400 --> 00:36:51,680
Speaker 1: important to mention that CIPPIC isn't ensuring your investment dollars

810
00:36:51,680 --> 00:36:54,880
Speaker 1: against lost. Right. Let's say you invested in Carbona or

811
00:36:55,000 --> 00:36:58,400
Speaker 1: Peloton at the height of the market. You've lost ninety

812
00:36:58,400 --> 00:37:01,520
Speaker 1: plus percent the money you sunk into those positions. You

813
00:37:01,560 --> 00:37:03,880
Speaker 1: lost all your money. Yeah, that that this insurance is

814
00:37:03,920 --> 00:37:06,560
Speaker 1: not for that, for like bad investment moves and the

815
00:37:06,600 --> 00:37:09,640
Speaker 1: money you've lost making those moves. The speculation maybe that

816
00:37:09,760 --> 00:37:11,759
Speaker 1: rent running a bit over the last couple of years. Like,

817
00:37:11,760 --> 00:37:12,960
Speaker 1: it's not it's not gonna help you out in that one,

818
00:37:13,000 --> 00:37:16,560
Speaker 1: even though it's sypic. It's not speculation investment protection coverage

819
00:37:16,680 --> 00:37:19,600
Speaker 1: or whatever, right, right, it's not about speculating. Gets about

820
00:37:19,880 --> 00:37:23,640
Speaker 1: those institutions going on. Yeah, and there's no speculation coverage

821
00:37:23,640 --> 00:37:25,759
Speaker 1: that I know if that exists, right, But cifically, if so,

822
00:37:25,920 --> 00:37:29,399
Speaker 1: sign me upright, speculate all you want. I'll start making

823
00:37:29,400 --> 00:37:31,400
Speaker 1: crazy best then, But CIPIC they might come in and

824
00:37:31,440 --> 00:37:33,759
Speaker 1: help you if a brokerage firm you do business with

825
00:37:33,840 --> 00:37:36,640
Speaker 1: goes belly up exactly, that's right. Yeah, but it also

826
00:37:36,880 --> 00:37:40,160
Speaker 1: might not have to because like just because your brokerage

827
00:37:40,160 --> 00:37:42,759
Speaker 1: account goes out of business. That doesn't mean that the

828
00:37:42,760 --> 00:37:45,880
Speaker 1: positions you hold, right, like the actual index funds or

829
00:37:45,880 --> 00:37:48,560
Speaker 1: the individual stock shares that you own, that they no

830
00:37:48,600 --> 00:37:51,640
Speaker 1: longer exist. That's actually unlike f d I C insurance

831
00:37:51,680 --> 00:37:54,239
Speaker 1: because if your bank goes bust, then the money is

832
00:37:54,280 --> 00:37:56,719
Speaker 1: completely gone because it's money, like they hold your money,

833
00:37:56,800 --> 00:37:59,440
Speaker 1: that money is gone. But if your preferred investment company

834
00:37:59,480 --> 00:38:01,960
Speaker 1: no longer exist us those assets that you've bought over

835
00:38:01,960 --> 00:38:05,160
Speaker 1: the years, they would typically be transferred to another brokerage

836
00:38:05,160 --> 00:38:07,839
Speaker 1: firm in an orderly manner with like without the need

837
00:38:07,920 --> 00:38:10,960
Speaker 1: for civic insurance to do any heavy lifting. And so

838
00:38:11,040 --> 00:38:14,440
Speaker 1: for instance of Fidelity or Vanguard, how however unlikely if

839
00:38:14,480 --> 00:38:16,760
Speaker 1: they do go out of business, there are still multiple

840
00:38:16,840 --> 00:38:20,080
Speaker 1: layers of protection CYPIC. It's one of those important layers. Uh.

841
00:38:20,120 --> 00:38:22,680
Speaker 1: And so really what the maybe the bigger question here,

842
00:38:22,680 --> 00:38:24,600
Speaker 1: it's it's less about the coverage amounts, and it's it's

843
00:38:24,640 --> 00:38:27,560
Speaker 1: more about whether or not like whether you're investing within

844
00:38:27,640 --> 00:38:32,480
Speaker 1: like the American investment system, right, because if Vanguard and Fidelity,

845
00:38:32,600 --> 00:38:34,880
Speaker 1: if if they go under again, we've got we've got

846
00:38:34,920 --> 00:38:36,759
Speaker 1: some bigger problems. We've got bigger fish to fry. Well,

847
00:38:36,760 --> 00:38:39,520
Speaker 1: they do, but we we all do. That's that's for sure.

848
00:38:39,840 --> 00:38:42,080
Speaker 1: But there's also the reality that that we have seen

849
00:38:42,680 --> 00:38:45,400
Speaker 1: uh some of these brokerage firms go bust before, specifically

850
00:38:45,400 --> 00:38:47,640
Speaker 1: in two thousand and eight, and investors were made whole

851
00:38:47,680 --> 00:38:50,480
Speaker 1: in that case. And CIPIC is a great backstop. It's

852
00:38:50,480 --> 00:38:52,480
Speaker 1: something that you want to make sure you have as

853
00:38:52,520 --> 00:38:55,239
Speaker 1: a as like that literally like the third backup, like

854
00:38:55,239 --> 00:38:58,160
Speaker 1: you're mentioning, Matt. It's a really important piece to the puzzle.

855
00:38:58,440 --> 00:39:00,279
Speaker 1: But it's also important for us to discuss just how

856
00:39:00,360 --> 00:39:03,640
Speaker 1: much coverage Civic Insurance provides because it's it's actually up

857
00:39:03,680 --> 00:39:07,920
Speaker 1: to five thousand per institution, per account holder. So that

858
00:39:07,960 --> 00:39:11,160
Speaker 1: five thousand headline number, it's it's one it's more than

859
00:39:11,280 --> 00:39:13,680
Speaker 1: fd I C insurance, but two it's it's not a

860
00:39:13,719 --> 00:39:16,200
Speaker 1: total amount for all your assets, right, it's five thousand

861
00:39:16,200 --> 00:39:18,640
Speaker 1: dollars each for your I RARA, your four oh one K,

862
00:39:18,760 --> 00:39:22,719
Speaker 1: your taxable brokers account, etcetera. So you and you're a

863
00:39:22,760 --> 00:39:24,680
Speaker 1: lot of money when you add all those together, that's right,

864
00:39:24,760 --> 00:39:26,840
Speaker 1: And and that's also for you and your spouse, right,

865
00:39:26,880 --> 00:39:29,600
Speaker 1: you can each have accounts as well with five thousand

866
00:39:29,600 --> 00:39:32,640
Speaker 1: dollars of coverage per accounts. So Mike mentioned the two

867
00:39:32,800 --> 00:39:35,239
Speaker 1: or fifty thou dollar number, Well, the truth is, with

868
00:39:35,280 --> 00:39:38,000
Speaker 1: CIPIC insurance coverage, you've got a whole lot more than that,

869
00:39:38,200 --> 00:39:40,880
Speaker 1: depending on how your funds are allocated. But you probably

870
00:39:40,880 --> 00:39:43,480
Speaker 1: don't need to start worrying about not having enough insurance

871
00:39:43,520 --> 00:39:46,560
Speaker 1: until you're like you've really reached high roller status. Yeah. Yeah,

872
00:39:46,600 --> 00:39:50,200
Speaker 1: they basically just start accounting by fives, like five, like

873
00:39:50,239 --> 00:39:53,040
Speaker 1: before before long you're at like two point five million dollars.

874
00:39:53,080 --> 00:39:55,280
Speaker 1: That is a lot of money. Hopefully you will achieve

875
00:39:55,320 --> 00:39:57,960
Speaker 1: that at some point, but you will still be completely

876
00:39:58,000 --> 00:40:01,480
Speaker 1: covered by CIPIC. But but but if that's not enough, if

877
00:40:01,520 --> 00:40:04,920
Speaker 1: you are a super savior with millions sitting within a

878
00:40:04,920 --> 00:40:06,960
Speaker 1: couple of these accounts, it's still not something that I

879
00:40:06,960 --> 00:40:10,520
Speaker 1: would spend much time worrying about. Um, you certainly could

880
00:40:10,719 --> 00:40:15,000
Speaker 1: diversify from doing business with just one specific institution and

881
00:40:15,080 --> 00:40:16,960
Speaker 1: you know, transfer some of those funds over to one

882
00:40:16,960 --> 00:40:19,640
Speaker 1: of the other low cost favorites for maximum coverage. Sure

883
00:40:19,640 --> 00:40:22,759
Speaker 1: you've got that schrob the being or the fidelity like accounts, Yeah,

884
00:40:22,760 --> 00:40:25,239
Speaker 1: why not? Then it's possibly you're in your look, you

885
00:40:25,280 --> 00:40:27,560
Speaker 1: definitely can uh, And there's again, there's we've talked about

886
00:40:27,600 --> 00:40:29,799
Speaker 1: this before, but there's there's nothing special about having all

887
00:40:29,840 --> 00:40:32,120
Speaker 1: of your money in a singular account. It's not like

888
00:40:32,120 --> 00:40:35,680
Speaker 1: it grows at a more rapid clip. Assuming all of

889
00:40:35,719 --> 00:40:38,840
Speaker 1: your investments are the same. Um, you've got a thousand

890
00:40:38,840 --> 00:40:41,560
Speaker 1: dollars and ten different accounts, it's gonna grow just as

891
00:40:41,600 --> 00:40:44,279
Speaker 1: quickly as ten thousand dollars in one account, assuming the

892
00:40:44,320 --> 00:40:46,520
Speaker 1: investments are the same. But we just don't think it's

893
00:40:46,560 --> 00:40:48,799
Speaker 1: necessary for you to just spend a whole lot of

894
00:40:48,840 --> 00:40:51,239
Speaker 1: time thinking about this. And one last thing too, it's

895
00:40:51,239 --> 00:40:53,080
Speaker 1: important to note that you don't have to do anything

896
00:40:53,080 --> 00:40:54,840
Speaker 1: in order to have access to f D I C

897
00:40:55,719 --> 00:40:59,840
Speaker 1: or two CIPIC insurance. Just by doing business with specific

898
00:41:00,000 --> 00:41:03,600
Speaker 1: banks and investment companies that offer that CIPIC protection, you're

899
00:41:03,600 --> 00:41:06,040
Speaker 1: going to be covered, um and you can. If you're

900
00:41:06,080 --> 00:41:09,120
Speaker 1: not totally sure, maybe you're doing business with a brokerage

901
00:41:09,200 --> 00:41:11,560
Speaker 1: that may not be as well known, one of the

902
00:41:11,560 --> 00:41:12,960
Speaker 1: ones maybe we don't talk about here on the show

903
00:41:12,960 --> 00:41:15,400
Speaker 1: because we talk about pretty well known big ones exactly.

904
00:41:15,640 --> 00:41:17,640
Speaker 1: That's the ones we prefer people to do business exactly.

905
00:41:17,680 --> 00:41:20,040
Speaker 1: If if that's the boat that you're in, you can

906
00:41:20,080 --> 00:41:22,239
Speaker 1: head to both the f d i C and the

907
00:41:22,520 --> 00:41:25,520
Speaker 1: CIPIC websites. You can go there and you can They've

908
00:41:25,520 --> 00:41:28,160
Speaker 1: got lists so you can actually verify that your financial

909
00:41:28,200 --> 00:41:32,399
Speaker 1: institution is covered. And oftentimes to your bank, your brokerage company.

910
00:41:32,440 --> 00:41:34,200
Speaker 1: They're gonna have that listed out on their side as well,

911
00:41:34,200 --> 00:41:35,840
Speaker 1: because they want to make sure that they're putting folks

912
00:41:35,960 --> 00:41:37,840
Speaker 1: at ease. Because if you're like, you get this random

913
00:41:37,840 --> 00:41:40,000
Speaker 1: email and you're like, oh, Jimmy Cricket Banks paying nine

914
00:41:40,040 --> 00:41:42,640
Speaker 1: percent rate on my savings, well, guess what, go look

915
00:41:42,640 --> 00:41:44,640
Speaker 1: it up on the fd i C website. Even that

916
00:41:44,719 --> 00:41:47,480
Speaker 1: Jimmy Cricket Bank might say, I don't even know why, sorry,

917
00:41:47,680 --> 00:41:49,520
Speaker 1: but let's just let's just say it works. I like

918
00:41:49,520 --> 00:41:52,000
Speaker 1: it that they could be a scam email at Towns right,

919
00:41:52,040 --> 00:41:53,600
Speaker 1: trying to get get you to part part you from

920
00:41:53,600 --> 00:41:56,279
Speaker 1: your dollars. But if you you can trust what's on

921
00:41:56,320 --> 00:41:57,680
Speaker 1: the fd i S site, and if you don't see

922
00:41:57,680 --> 00:41:59,640
Speaker 1: that bank listed there, you know that it's not legit.

923
00:41:59,719 --> 00:42:01,080
Speaker 1: And so you want to make sure to be able

924
00:42:01,120 --> 00:42:03,319
Speaker 1: to verify and make sure that the fdi C says

925
00:42:03,360 --> 00:42:05,319
Speaker 1: that they're legit before you do business with them. And

926
00:42:05,320 --> 00:42:08,400
Speaker 1: in a world where it less so on the investment

927
00:42:08,440 --> 00:42:11,520
Speaker 1: firm side, but but definitely in the bank side. There's

928
00:42:11,560 --> 00:42:13,960
Speaker 1: like all sorts of random banks with new names and

929
00:42:14,560 --> 00:42:18,440
Speaker 1: newfangled pitches to two sabers, so it's worth looking on

930
00:42:18,480 --> 00:42:21,000
Speaker 1: there before you pick a bank to do business with. Totally.

931
00:42:21,040 --> 00:42:22,319
Speaker 1: I feel like if you're going to open up a

932
00:42:22,360 --> 00:42:25,040
Speaker 1: home cooking breakfast place, show would be called jimminy Cippics,

933
00:42:26,640 --> 00:42:29,720
Speaker 1: and uh, you sit there talking about personal finances while

934
00:42:29,800 --> 00:42:35,120
Speaker 1: also stirring a pot of sausage gravy. I do love

935
00:42:35,160 --> 00:42:38,480
Speaker 1: the stuff like that. Let's get to our last question here, Joel.

936
00:42:38,560 --> 00:42:41,240
Speaker 1: This one is from a listener who is getting paid

937
00:42:41,640 --> 00:42:43,920
Speaker 1: and foreign money. Kind of sounds like it's a scam,

938
00:42:44,080 --> 00:42:46,600
Speaker 1: but it's not. In actuality. She is an ex pat

939
00:42:46,640 --> 00:42:49,920
Speaker 1: and let's hear her question. Hi, Matt and Joel. My

940
00:42:50,040 --> 00:42:52,359
Speaker 1: name is Priscilla Doria and I've been a long time

941
00:42:52,440 --> 00:42:55,160
Speaker 1: listener of this show all the way from Brisbane, Australia.

942
00:42:55,680 --> 00:42:57,560
Speaker 1: I just wanted to first thank Joel for all of

943
00:42:57,600 --> 00:43:00,120
Speaker 1: his kind emails while I was contemplating my move to

944
00:43:00,120 --> 00:43:03,000
Speaker 1: the US, and for reaching out again when I arrived.

945
00:43:03,440 --> 00:43:05,319
Speaker 1: I also wanted to say that I've tried one of

946
00:43:05,360 --> 00:43:08,879
Speaker 1: your food recommendations at Lan Joe and I absolutely love

947
00:43:08,960 --> 00:43:12,160
Speaker 1: the hand tied doodles. Maybe you should consider seguing into

948
00:43:12,200 --> 00:43:15,960
Speaker 1: food reviews along with beer. My question today relates to

949
00:43:16,160 --> 00:43:19,319
Speaker 1: currency exchange. I still work for the Australian company, so

950
00:43:19,360 --> 00:43:22,239
Speaker 1: I get paid in Australian dollars, which I then move

951
00:43:22,280 --> 00:43:25,319
Speaker 1: across to the US every month. As we all know,

952
00:43:25,440 --> 00:43:28,640
Speaker 1: the currency exchange lately has been terrible and seems to

953
00:43:28,680 --> 00:43:31,120
Speaker 1: be getting worse. I was wondering if there was anything

954
00:43:31,120 --> 00:43:33,880
Speaker 1: I could do to hedge my currency risk to reduce

955
00:43:33,920 --> 00:43:36,800
Speaker 1: the losses to my income each month. I love the

956
00:43:36,840 --> 00:43:38,719
Speaker 1: podcast and I look forward to the next How two

957
00:43:38,719 --> 00:43:41,040
Speaker 1: Money Get Together? Thank you again for all of your

958
00:43:41,040 --> 00:43:43,640
Speaker 1: wonderful emails. What's up with all these wonderful emails? I

959
00:43:43,680 --> 00:43:46,239
Speaker 1: don't know. I don't know about Hey, Joel's going above

960
00:43:46,280 --> 00:43:49,840
Speaker 1: and beyond for our for well, we take pride in

961
00:43:49,840 --> 00:43:52,399
Speaker 1: the fact that we respond to basically every listener email

962
00:43:52,440 --> 00:43:55,520
Speaker 1: that we get right. We we we read of them

963
00:43:55,560 --> 00:43:57,520
Speaker 1: and we try to respond fast majority and we try

964
00:43:57,520 --> 00:44:00,920
Speaker 1: to do try to respond to everyone. And so yeah, Priscilla,

965
00:44:00,960 --> 00:44:02,640
Speaker 1: thanks to your question, and I'm happy to help. By

966
00:44:02,640 --> 00:44:04,719
Speaker 1: the way, that's I'm happy to respond when people even

967
00:44:04,760 --> 00:44:07,839
Speaker 1: as something as simple as a brewery or restaurant recommendation, Mada,

968
00:44:07,840 --> 00:44:09,640
Speaker 1: I'm happy to give it. And well, although I don't

969
00:44:09,640 --> 00:44:12,080
Speaker 1: know about being a food reviewer like that's my future.

970
00:44:12,800 --> 00:44:15,279
Speaker 1: I didn't know you were such a foody Joel, so

971
00:44:15,360 --> 00:44:17,480
Speaker 1: actually I wanted to mention this. This reminds me of

972
00:44:17,600 --> 00:44:20,399
Speaker 1: a recent newsletter that we had a friend of ours

973
00:44:20,440 --> 00:44:23,560
Speaker 1: brit We featured her and her money hack was that

974
00:44:23,640 --> 00:44:28,280
Speaker 1: she likes to buy clothes that are on sale in Australia,

975
00:44:28,760 --> 00:44:31,200
Speaker 1: and with Priscilla being from Australia, definitely made me think

976
00:44:31,239 --> 00:44:34,800
Speaker 1: of that. But basically because Australia is in the Southern Hemisphere,

977
00:44:35,040 --> 00:44:37,480
Speaker 1: as it is starting to get cold here in the States,

978
00:44:37,800 --> 00:44:40,279
Speaker 1: it's starting to warm up down there in Australia, which

979
00:44:40,280 --> 00:44:42,799
Speaker 1: means all of their cold weather clothes are are going

980
00:44:42,840 --> 00:44:45,440
Speaker 1: on sale, and so she likes to shop those sales

981
00:44:46,120 --> 00:44:48,680
Speaker 1: as we're starting to bundle up here in the US,

982
00:44:48,760 --> 00:44:50,759
Speaker 1: which probably makes even more sense right now with the

983
00:44:50,800 --> 00:44:53,280
Speaker 1: declining Australian dollar. I'm sure Prince making out like a bandit,

984
00:44:53,320 --> 00:44:55,680
Speaker 1: which is which has a lot to do with priscilla situation,

985
00:44:55,840 --> 00:44:57,759
Speaker 1: right and by the way I've never it's always been

986
00:44:57,760 --> 00:45:00,239
Speaker 1: weird to me that in Australia they've got like summer

987
00:45:00,560 --> 00:45:04,960
Speaker 1: Christmas down there, which is crazy. It's weird, but it

988
00:45:05,080 --> 00:45:07,319
Speaker 1: changes a lot of this, I'm sure. Do they sing

989
00:45:07,360 --> 00:45:09,040
Speaker 1: the same songs about white Christmas and stuff like that.

990
00:45:09,840 --> 00:45:14,000
Speaker 1: These are all the things that we learned from watching Blue. Yes, yes,

991
00:45:14,040 --> 00:45:16,160
Speaker 1: that's true, all right, but let's talk about let's talk

992
00:45:16,200 --> 00:45:18,480
Speaker 1: about that because the dollar has been strong, as I'll

993
00:45:18,480 --> 00:45:20,440
Speaker 1: get out, and that's really a lot of what Priscilla's

994
00:45:20,480 --> 00:45:23,280
Speaker 1: referencing here. That's what's kind of crimping her personal finances

995
00:45:23,719 --> 00:45:26,960
Speaker 1: right now. And that's great for Americans traveling to Europe

996
00:45:27,040 --> 00:45:29,920
Speaker 1: or Australia, or a friend Britt buying Australian clothes on

997
00:45:30,000 --> 00:45:32,600
Speaker 1: an even deeper discount, Your money is going a lot

998
00:45:32,640 --> 00:45:35,440
Speaker 1: further right now. But the opposite is also true, because

999
00:45:35,480 --> 00:45:38,080
Speaker 1: if visitors from those countries, if they jet across the

1000
00:45:38,080 --> 00:45:41,160
Speaker 1: pond on a holiday to the US, the prices they're

1001
00:45:41,200 --> 00:45:43,880
Speaker 1: paying while traveling here are freakishly high. And so that

1002
00:45:43,920 --> 00:45:47,959
Speaker 1: means for Priscilla it's even worse right because she's living

1003
00:45:48,000 --> 00:45:51,160
Speaker 1: here on an ongoing basis, spending in US dollars, but

1004
00:45:51,200 --> 00:45:53,799
Speaker 1: getting paid in the currency of her home country, which

1005
00:45:53,840 --> 00:45:57,840
Speaker 1: is Australian dollars, So everything is more expensive all the

1006
00:45:57,920 --> 00:46:01,120
Speaker 1: time for her. And so Priscilla just uh, yeah, first,

1007
00:46:01,120 --> 00:46:03,359
Speaker 1: we're really sorry that's the case. That's gonna make things

1008
00:46:03,440 --> 00:46:05,239
Speaker 1: just a lot more difficult for you right now from

1009
00:46:05,239 --> 00:46:07,560
Speaker 1: a financial perspective, but we will do our best to

1010
00:46:07,600 --> 00:46:10,640
Speaker 1: give some hopefully helpful advice. Yeah, she's got arbitrage working

1011
00:46:10,719 --> 00:46:13,839
Speaker 1: against her in this case. Uh, And so like, what

1012
00:46:13,960 --> 00:46:15,560
Speaker 1: is it that you can do to lessen the blow?

1013
00:46:15,719 --> 00:46:18,399
Speaker 1: You know, for the time being, presale, Sadly, there's there's

1014
00:46:18,440 --> 00:46:21,000
Speaker 1: not a lot that we could think of. This is

1015
00:46:21,320 --> 00:46:23,840
Speaker 1: I mean, essentially, this is a macroeconomic trend that's in

1016
00:46:23,880 --> 00:46:26,440
Speaker 1: full swing. But it's also important to mention that this

1017
00:46:26,880 --> 00:46:29,800
Speaker 1: is a cycle thing, right, Like this won't last forever,

1018
00:46:30,120 --> 00:46:32,680
Speaker 1: although that's cold comfort when you're in the middle of

1019
00:46:32,680 --> 00:46:35,080
Speaker 1: of getting pinched. But one thing that we should mention

1020
00:46:35,160 --> 00:46:38,400
Speaker 1: is to make sure that you're avoiding any fees uh

1021
00:46:38,480 --> 00:46:41,160
Speaker 1: at every turn when you are converting that currency, when

1022
00:46:41,160 --> 00:46:44,799
Speaker 1: you're converting those Australian dollars to US dollars. Wise dot

1023
00:46:44,800 --> 00:46:47,200
Speaker 1: Com used to be transfer wise. I'm not totally sure

1024
00:46:47,239 --> 00:46:49,279
Speaker 1: why they dropped the transfer part, which seems to be

1025
00:46:49,360 --> 00:46:51,960
Speaker 1: the most crucial part of what it's come to transfer

1026
00:46:51,960 --> 00:46:55,400
Speaker 1: dot com. But instead it's why it's which when people

1027
00:46:55,400 --> 00:46:58,640
Speaker 1: hear that, do you think of the potato chips Chips.

1028
00:46:58,880 --> 00:47:01,520
Speaker 1: It's been a minute, but that's one of our favorite sites,

1029
00:47:01,560 --> 00:47:04,440
Speaker 1: and they charge the fewest fees and they offer the

1030
00:47:04,480 --> 00:47:08,640
Speaker 1: most competitive rates typically whatever the exchange rate currently is. Uh,

1031
00:47:08,680 --> 00:47:11,040
Speaker 1: you don't want to lose additional dollars when you're doing

1032
00:47:11,080 --> 00:47:13,640
Speaker 1: that conversion. And keep in mind too, like some big

1033
00:47:13,640 --> 00:47:16,800
Speaker 1: banks out there, they're gonna tout that we do foreign

1034
00:47:16,840 --> 00:47:20,239
Speaker 1: currency exchange for you for no fee at all. Well, who,

1035
00:47:20,480 --> 00:47:22,560
Speaker 1: But then when you check their exchange rate, they're actually

1036
00:47:22,560 --> 00:47:25,200
Speaker 1: making money on the spread. And so we just checked

1037
00:47:25,239 --> 00:47:28,800
Speaker 1: and Bank of America there's a four cent per dollar

1038
00:47:29,360 --> 00:47:32,759
Speaker 1: disparity between what the actual exchange rate currently is and

1039
00:47:32,800 --> 00:47:34,960
Speaker 1: what it is that they're charging uh. And so that

1040
00:47:35,000 --> 00:47:38,279
Speaker 1: means if you're looking at exchanging five thousand bucks, you're

1041
00:47:38,280 --> 00:47:42,920
Speaker 1: paying two uh and so yeah, there's no fee, but

1042
00:47:42,960 --> 00:47:45,400
Speaker 1: you're gonna get two fewer dollars when you do an

1043
00:47:45,440 --> 00:47:47,759
Speaker 1: exchange like that with a big bank as opposed to

1044
00:47:47,800 --> 00:47:50,960
Speaker 1: that same amount at wise you're only looking at twenty

1045
00:47:50,960 --> 00:47:53,239
Speaker 1: five bucks. Why is just more above board with it

1046
00:47:53,320 --> 00:47:56,960
Speaker 1: and more honest and transparent way cheaper. So when you're

1047
00:47:57,000 --> 00:48:00,319
Speaker 1: transferring those Australian dollars to US dollars, that's the place

1048
00:48:00,320 --> 00:48:02,960
Speaker 1: that we know of at least to make that conversion.

1049
00:48:03,320 --> 00:48:05,239
Speaker 1: And one of the things that we would suggest, by

1050
00:48:05,239 --> 00:48:07,960
Speaker 1: the way, is to consider finding a job here in

1051
00:48:08,000 --> 00:48:10,120
Speaker 1: the States where you'd be getting paid in US dollars

1052
00:48:10,560 --> 00:48:12,480
Speaker 1: and you might absolutely love your job the job that

1053
00:48:12,480 --> 00:48:14,879
Speaker 1: you've got in Australia, even though you're far away from

1054
00:48:14,880 --> 00:48:17,839
Speaker 1: home but still working there, but you've basically gotten something

1055
00:48:17,880 --> 00:48:21,560
Speaker 1: like pay cut because of the economic climate, because of

1056
00:48:21,680 --> 00:48:24,879
Speaker 1: the trends that Matt's talking about, and that's just hard

1057
00:48:24,920 --> 00:48:27,759
Speaker 1: to stomach over a longer period of time. Again, I

1058
00:48:27,760 --> 00:48:29,640
Speaker 1: don't think that this is going to last forever, but

1059
00:48:29,680 --> 00:48:32,040
Speaker 1: it's painful now. It would at least be worth doing

1060
00:48:32,080 --> 00:48:33,520
Speaker 1: a bit of job hunting though, to see if you

1061
00:48:33,520 --> 00:48:35,759
Speaker 1: can land something with a comparable or maybe even a

1062
00:48:35,800 --> 00:48:38,400
Speaker 1: higher rate to pay where you're not going to be

1063
00:48:38,400 --> 00:48:41,200
Speaker 1: penalized by the decline and the value of the Australian dollar.

1064
00:48:41,640 --> 00:48:43,600
Speaker 1: Every two weeks when you get paid and maybe this

1065
00:48:43,640 --> 00:48:45,920
Speaker 1: has already crossed your mind to to think about mozing

1066
00:48:45,960 --> 00:48:47,799
Speaker 1: on down the road and now that you live here,

1067
00:48:47,960 --> 00:48:50,200
Speaker 1: finding work here as well. But this could be one

1068
00:48:50,200 --> 00:48:53,240
Speaker 1: of those ways to combat this immediate loss of spending

1069
00:48:53,280 --> 00:48:56,080
Speaker 1: power that you're that you're basically incurring every single time

1070
00:48:56,080 --> 00:48:58,040
Speaker 1: you get a paycheck. Totally. And by the way, Priscilla

1071
00:48:58,080 --> 00:49:00,759
Speaker 1: asked about a local how to mon to meet up.

1072
00:49:01,080 --> 00:49:02,720
Speaker 1: We definitely need to get one of those on the books,

1073
00:49:02,719 --> 00:49:06,080
Speaker 1: and hopefully we can make that happen soon. Uh. And actually,

1074
00:49:06,080 --> 00:49:09,000
Speaker 1: since we discussed economic cycles a little bit here in

1075
00:49:09,040 --> 00:49:11,239
Speaker 1: this response, so we'th outing that. We're actually going to

1076
00:49:11,320 --> 00:49:14,799
Speaker 1: talk more about economic cycles and how to be more

1077
00:49:14,920 --> 00:49:17,920
Speaker 1: flexible with your finances. No, no matter what is happening

1078
00:49:17,920 --> 00:49:20,560
Speaker 1: around you, we're gonna talk about that here in two

1079
00:49:20,680 --> 00:49:23,680
Speaker 1: days on Wednesday's episode, so you can look forward to that.

1080
00:49:23,960 --> 00:49:26,960
Speaker 1: But Priscilla, best of luck to you, and hopefully, yeah,

1081
00:49:27,080 --> 00:49:29,960
Speaker 1: like Joel said, you can find that position here by

1082
00:49:30,000 --> 00:49:33,840
Speaker 1: a US employer and by default get a boost to

1083
00:49:34,080 --> 00:49:36,760
Speaker 1: your income. Man, it's just it's nice. It's tough sledding

1084
00:49:36,760 --> 00:49:39,160
Speaker 1: out there for somebody like Priscilla. That's it's like the

1085
00:49:39,239 --> 00:49:42,640
Speaker 1: worst of both worlds to be living somewhere and in

1086
00:49:42,680 --> 00:49:45,160
Speaker 1: the midst of an inflation cycle to right where we're

1087
00:49:45,160 --> 00:49:48,839
Speaker 1: seeing higher prices. Anyway, in general, folks just getting paid

1088
00:49:48,840 --> 00:49:50,560
Speaker 1: in U S. Dollars are kind of feel like they're

1089
00:49:50,600 --> 00:49:52,080
Speaker 1: under the gun. But if you're getting paid in a

1090
00:49:52,120 --> 00:49:54,799
Speaker 1: foreign currency that's now devalued, you're even more into the gun.

1091
00:49:54,880 --> 00:49:56,560
Speaker 1: So it's a tough position to be in. But we

1092
00:49:56,600 --> 00:49:58,359
Speaker 1: wish you the best of luck, Priscilla, and hopefully those

1093
00:49:58,400 --> 00:50:02,200
Speaker 1: suggestions help at least on the margins. But Matt, let's

1094
00:50:02,200 --> 00:50:05,319
Speaker 1: get back to the beer. This one was called Wednesday Cat.

1095
00:50:05,400 --> 00:50:08,480
Speaker 1: It's by Yoho Brewing in Nagano, Japan. What were your

1096
00:50:08,480 --> 00:50:10,399
Speaker 1: thoughts on this beer, my friend, Yeah, so I love

1097
00:50:10,400 --> 00:50:13,200
Speaker 1: that it's called Wednesday Cat because this I'm pretty sure

1098
00:50:13,239 --> 00:50:15,799
Speaker 1: this is just like the literal translation, you know, Like

1099
00:50:15,920 --> 00:50:18,319
Speaker 1: it's always funny when she translates stuff to the US,

1100
00:50:18,600 --> 00:50:21,000
Speaker 1: it doesn't always translate. But on the can it says

1101
00:50:21,040 --> 00:50:24,839
Speaker 1: Wednesday Cat Belgian style white ale made for your over

1102
00:50:24,840 --> 00:50:28,719
Speaker 1: the hump Day, which was just like the best. It

1103
00:50:28,800 --> 00:50:31,680
Speaker 1: sounds very much like it's translated from an Asian country.

1104
00:50:31,880 --> 00:50:35,640
Speaker 1: Just straight up Google Translate printed ye, but yeah, it's

1105
00:50:35,640 --> 00:50:37,680
Speaker 1: really it's interesting because like we've never had a beer

1106
00:50:37,760 --> 00:50:40,399
Speaker 1: where they've got a US label on here that literally

1107
00:50:40,440 --> 00:50:42,719
Speaker 1: it's a sticker, uh, and it covers all the I

1108
00:50:42,719 --> 00:50:46,240
Speaker 1: guess all the requirements that Japan requires for their breweries.

1109
00:50:46,520 --> 00:50:49,880
Speaker 1: But yeah, this is definitely a Belgian style white or

1110
00:50:50,040 --> 00:50:54,840
Speaker 1: wit and this was an incredibly refreshing version of the style.

1111
00:50:55,400 --> 00:51:00,320
Speaker 1: Is really incredibly like light and fresh tasting, which is crazysidering.

1112
00:51:00,360 --> 00:51:02,759
Speaker 1: It came from halfway around the world, um, the other

1113
00:51:02,760 --> 00:51:05,760
Speaker 1: side of the planet, but it reminded me of fresh

1114
00:51:05,760 --> 00:51:07,560
Speaker 1: hot beers, right. And so like there's certain I p

1115
00:51:07,719 --> 00:51:10,880
Speaker 1: a s and they're specifically like sometimes they're called like

1116
00:51:10,960 --> 00:51:13,960
Speaker 1: drink by or what like was it lug Nitas who

1117
00:51:14,080 --> 00:51:16,520
Speaker 1: had like an expiration date stone. I think there's a

1118
00:51:16,520 --> 00:51:18,640
Speaker 1: stone drink by dates or drink by dates or whatever.

1119
00:51:19,000 --> 00:51:21,239
Speaker 1: Or I legnita it was born yesterday, That's what I'm

1120
00:51:21,280 --> 00:51:23,920
Speaker 1: thinking of. But it it the way I would always

1121
00:51:23,960 --> 00:51:26,239
Speaker 1: describe those beers as it kind of tasted alive, like

1122
00:51:26,280 --> 00:51:28,160
Speaker 1: it it tasted so fresh, it was kind of like

1123
00:51:28,360 --> 00:51:30,799
Speaker 1: tingling on your tongue with flavor. That's kind of how

1124
00:51:30,800 --> 00:51:34,520
Speaker 1: I feel about this it wasn't overly heavy with those

1125
00:51:34,560 --> 00:51:37,160
Speaker 1: Belgian yeasts. Uh, And I realized, and I think I

1126
00:51:37,239 --> 00:51:40,000
Speaker 1: like that. I may not be the biggest fan of

1127
00:51:40,040 --> 00:51:43,080
Speaker 1: the different Belgian flavors. I think early on in my

1128
00:51:43,200 --> 00:51:46,480
Speaker 1: craft beer career, I was drawn to those flavors, but

1129
00:51:46,520 --> 00:51:48,719
Speaker 1: over time I think I found them to be maybe

1130
00:51:48,760 --> 00:51:51,240
Speaker 1: a little too sweet. And this one definitely was not sweet.

1131
00:51:51,239 --> 00:51:54,000
Speaker 1: It certainly had a more of a dryness. It definitely

1132
00:51:54,000 --> 00:51:55,719
Speaker 1: felt lighter on the tongue, lighter in the mouth. Do

1133
00:51:56,239 --> 00:51:59,600
Speaker 1: what your thoughts? Yes, well, So the most well known

1134
00:52:00,000 --> 00:52:03,359
Speaker 1: all of this is Ala Gash White probably, and there's

1135
00:52:03,480 --> 00:52:06,120
Speaker 1: has maybe a little more of a strong spice like

1136
00:52:06,160 --> 00:52:10,319
Speaker 1: cloves sort of maybe not coriinator, but maybe a touch

1137
00:52:10,320 --> 00:52:12,560
Speaker 1: of that as well. Yeah, and so I really like

1138
00:52:12,640 --> 00:52:14,399
Speaker 1: that beer. But I think I like this beer. I'm

1139
00:52:14,480 --> 00:52:17,719
Speaker 1: just a little bit more. Makes me want Tuesday Cat

1140
00:52:17,760 --> 00:52:20,759
Speaker 1: and Thursday Cat, Friday cat whatever they got. So and

1141
00:52:20,760 --> 00:52:22,439
Speaker 1: and maybe every every day of the week cat. Maybe

1142
00:52:22,520 --> 00:52:24,960
Speaker 1: let will kick off a new Japanese crappier obsession. I

1143
00:52:25,000 --> 00:52:26,520
Speaker 1: don't know. I hope so, I hope so, so, I

1144
00:52:26,840 --> 00:52:28,839
Speaker 1: hope we get more of these. I picked this up

1145
00:52:28,840 --> 00:52:31,000
Speaker 1: in Chattanooga, so I'm not sure if we get these

1146
00:52:31,040 --> 00:52:33,200
Speaker 1: even here where we live, but if I never seen

1147
00:52:33,280 --> 00:52:35,040
Speaker 1: them on the shelf, if I seem more by this brewery,

1148
00:52:35,080 --> 00:52:37,239
Speaker 1: I will certainly pick it up. But all right, that's

1149
00:52:37,239 --> 00:52:39,080
Speaker 1: gonna do it for this episode. For If you want

1150
00:52:39,080 --> 00:52:40,440
Speaker 1: the show notes, if you want to see links that

1151
00:52:40,480 --> 00:52:42,000
Speaker 1: we mentioned, you can find those up on our website

1152
00:52:42,040 --> 00:52:45,000
Speaker 1: and How the Money dot Com, alongside other helpful information.

1153
00:52:45,080 --> 00:52:48,080
Speaker 1: We are publishing articles regularly on the site to help

1154
00:52:48,080 --> 00:52:50,320
Speaker 1: you get better with your money, long form articles to

1155
00:52:50,360 --> 00:52:52,279
Speaker 1: walk you through the things you need to know. And

1156
00:52:52,320 --> 00:52:54,080
Speaker 1: also you've got that how the Money credit card tool

1157
00:52:54,120 --> 00:52:56,480
Speaker 1: which can help you choose the right credit card for

1158
00:52:56,560 --> 00:52:59,160
Speaker 1: you based on how you spend. That's up on the

1159
00:52:59,160 --> 00:53:01,600
Speaker 1: site and How the Money dot Com slash credit cards.

1160
00:53:01,840 --> 00:53:03,680
Speaker 1: That's right, buddy. So that's gonna be it for this

1161
00:53:03,719 --> 00:53:07,359
Speaker 1: episode until next time. Best Friends Out, Best Friends Out.