Speaker 1: Episode one eight, Minimalist Investing. Welcome to the Frugal Friends podcast,
Speaker 1: where you'll learn to save money, embrace simplicity, rights, and
Speaker 1: liver with your life. Here your host Jen and Jill MM.
Speaker 1: Welcome to the Frugal Friends podcast. My name is Jen,
Speaker 1: my name is Jill, and today we are combining two
Speaker 1: of our favorite things, minimalism and money to talk about
Speaker 1: minimalist investing. How do you feel about it, Jill? I
Speaker 1: feel great about it because we've got some awesome articles
Speaker 1: that really break it down in a digestible way. This
Speaker 1: is definitely a fringe topic for me. It's not something
Speaker 1: I am an expert on. But I think the growth
Speaker 1: that's present here and the ability to learn more, I
Speaker 1: think making it accessible to people who might not quite
Speaker 1: know how do I invest? How do I go about this?
Speaker 1: And to attach it to the word minimal sounds attainable
Speaker 1: and more simple. And yes, if that's what you're thinking, Yes,
Speaker 1: that's what you're about to find here. Yes. And I
Speaker 1: think the most I think the most popular thing I'm
Speaker 1: seeing from creators right now our courses about investing, because
Speaker 1: it is the most difficult thing I think about personal finance.
Speaker 1: Everything else I mean besides taxes, but I mean those
Speaker 1: those get into the weeds when you have a business.
Speaker 1: But like I think, investing is one of our most
Speaker 1: complicated subjects, but it doesn't have to be. You don't
Speaker 1: need a five hundred dollar course to learn investing. I
Speaker 1: have a hundred dollar course. It's actually seventy seven because
Speaker 1: I give like discounts out like candy. So if you
Speaker 1: want one, you want a course on investing, I have one.
Speaker 1: But the meat of what you really need we will
Speaker 1: cover in this episode. And we also have other episodes
Speaker 1: that kind of introduce the topic. So we have if
Speaker 1: you want to queue up some episodes to play. Next,
Speaker 1: we have episode ninety four, which is Retirement one oh one,
Speaker 1: where we cover retirement accounts. We have episode one forty six,
Speaker 1: which is Understanding the Stock Market with bolosakunbi Um. She
Speaker 1: has a fantastic book, so if you're looking for a book,
Speaker 1: I definitely highly recommend hers. And then episode one we
Speaker 1: talked specifically about roth iras with Barbara Guinty, and I
Speaker 1: think what we're going to talk about today is primarily
Speaker 1: what goes into your retirement accounts, and so we like
Speaker 1: to use roth iras. So just keep that in the
Speaker 1: back of your mind. I will say neither of us
Speaker 1: are registered or licensed financial advisors. If you need a
Speaker 1: personal specific help, like if you're a high income earner
Speaker 1: or you have some kind of inheritance or high net worth,
Speaker 1: then you'll definitely want to get a some kind of
Speaker 1: certified financial planner on your side. So that is the
Speaker 1: disclaimer for this episode. But plenty of people get by
Speaker 1: with just the information that we're going to share in
Speaker 1: this episode, but um definitely reach out to me if
Speaker 1: you have any more questions on what we go over,
Speaker 1: and similar to every other episode, we talk about what
Speaker 1: you find on the internet when you do a first
Speaker 1: search about this, this is what you're going to find,
Speaker 1: and breaking it down even further, giving more perspective and
Speaker 1: tangible tips on how to implement this. With the recognition that, yeah,
Speaker 1: we are not certified financial planners. We don't have all
Speaker 1: those certificates for investment. I have a license for social work.
Speaker 1: I ran the retirement and investing beat at the Penny
Speaker 1: Harder when I worked there, so I was that I've
Speaker 1: written about investments extensively again, wrote a full course on them.
Speaker 1: But there are plenty of options if you need like
Speaker 1: a visual like video slides and stuff cool, take a course.
Speaker 1: I think if you just are good enough to read,
Speaker 1: highly recommend Bull of Sucumbis book, and if you just
Speaker 1: want to listen, if you just need an overview, then
Speaker 1: buckle up for what we're going to bring you after
Speaker 1: our sponsors. Today's episode is brought to you by our
Speaker 1: seven day No Spend Challenge. When you are listening to this,
Speaker 1: hopefully on release day you will see it as the
Speaker 1: first day of the month, so hopefully you have your
Speaker 1: budgets made. But it's also the perfect time to do
Speaker 1: a no spend challenge, especially if you want to do
Speaker 1: one for a month. This is kind of like our
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Speaker 1: one of these, but we highly recommend just start with
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Speaker 1: head to Frugal Friends podcast dot com slash free to
Speaker 1: get yours. This is also brought to you by keeping
Speaker 1: it simple, not complicating things. That's it, just keeping it simple.
Speaker 1: That was a very one line, one line of text.
Speaker 1: You are fulfilling that all right. Well, when I googled
Speaker 1: minimalist investing, I came out with some pretty good I
Speaker 1: think minimalist investing is becoming a buzzword now that minimalism
Speaker 1: is becoming mainstream. So I loved seeing that. So our
Speaker 1: first article is actually from a really well known investing website,
Speaker 1: Motley fool Um, which is full dot com, and it's
Speaker 1: minimalist Investing Tips for and beyond. What do you think
Speaker 1: of this one, Jill? I love tips. I love it
Speaker 1: when they keep it simple. So I think we can
Speaker 1: just go through all five of what they list out.
Speaker 1: Absolutely so the first tip and so we will go
Speaker 1: through these kind of tips and then the second article
Speaker 1: will be um more of the like funds, not specific funds,
Speaker 1: but like portfolio recommendations just for educational purposes. Another disclaimer
Speaker 1: you have to make. You have to make a lot
Speaker 1: of disclaimers when you're talking about investing. So if you
Speaker 1: ever see that on social media, I think nobody really
Speaker 1: cares what influencers say, but we still have to like
Speaker 1: say it just in case, like one person gets mad,
Speaker 1: so one person always gets mad, but one person always
Speaker 1: one person gets mad, so she have to say it
Speaker 1: to like cover our butts. So the first tip from
Speaker 1: Motley Fool on this one is hold few funds, so
Speaker 1: make your investing as simple as possible. And we're going
Speaker 1: to talk a lot about funds, and so what funds
Speaker 1: are are just mutually funded collections of stocks. The fund
Speaker 1: is like referencing the money mutually funded, and it's just
Speaker 1: like collections of stocks. And typically it's, you know, a
Speaker 1: collection of all the stocks you know. That's the most
Speaker 1: common one you hear, but sometimes it can be like specifics,
Speaker 1: you know, types of stocks like technology or medical companies,
Speaker 1: or just bonds or something. So holding fewer funds doesn't
Speaker 1: mean you are purchasing single stocks. It can mean the opposite,
Speaker 1: but holding as few as possible will make your portfolio
Speaker 1: more manageable, less intimidating, and easier to understand. The second
Speaker 1: tip on here is to trade only occasionally, so not
Speaker 1: only not having a ton of funds everywhere, also engaging
Speaker 1: with those funds minimally, not constantly tweaking and changing and moving.
Speaker 1: First of all, it can cost money whenever we do
Speaker 1: trade those, and also it can make taxes a whole
Speaker 1: lot more complicated. And so they list here. I'm just
Speaker 1: going to read off. It's really helpful explanation here that
Speaker 1: trading trends can complicate your tax life, and depending on
Speaker 1: the broker that you're using, it can be quite costly.
Speaker 1: So one of the simplest ways to reduce taxes and
Speaker 1: fees is to not trade and let your investments do
Speaker 1: the long term work. And that really is what the
Speaker 1: ultimate purpose of investment is is. It's a long game.
Speaker 1: It's not a short game. It's not all I'm gonna
Speaker 1: put in ten dollars this week and have hundreds of
Speaker 1: dollars next week. And so when we're constantly in it
Speaker 1: and moving things, it's just it's complicated, it's not simple.
Speaker 1: And even the people who really know what they're doing
Speaker 1: oftentimes aren't even making out on it. They're just intrigued
Speaker 1: by trading. Yeah, I would say once or twice a
Speaker 1: year if you're a nerd about it. Twice a year
Speaker 1: if you don't really care about it, but you just
Speaker 1: know you need to invest. Once a year, pick a
Speaker 1: date on a January or like a fall day, whatever,
Speaker 1: maybe it's October two once a year, just to rebalance.
Speaker 1: That's all. That's the only reason you need to trade.
Speaker 1: You don't need to trade when the market is doing
Speaker 1: all these fluctuations, when the news is talking about the market,
Speaker 1: because the news has always talked about the market. They
Speaker 1: have like entire sections of newspapers and websites just on
Speaker 1: the market, entire websites, publications just on the market. So
Speaker 1: you're always going to find news of it, you know,
Speaker 1: potentially crashing or going up. So don't use that as
Speaker 1: your guide for when you rebounce your portfolio. Just pick
Speaker 1: a day and do it once a year so or
Speaker 1: you know, twice or three times, depending on how you
Speaker 1: feel about it. So the third I think is the
Speaker 1: most important one on this list, Like I think you
Speaker 1: can break all the other ones, but this is the
Speaker 1: most important one, and it is to auto invest. I've
Speaker 1: always said that for people working on average incomes or
Speaker 1: below average incomes, the best way to invest is to
Speaker 1: invest early and often, And so that means start today
Speaker 1: and set up auto invest and invest literally every single
Speaker 1: month until you retire. I don't care how much it
Speaker 1: is but never miss a month, even if it's just
Speaker 1: ten dollars, because once you meet a minimum I mean
Speaker 1: Fidelity has a ten dollar minimum to buy into a
Speaker 1: fund E t f s, you can do with even less.
Speaker 1: But I strongly believe that the frequency with which we
Speaker 1: invest and building up slowly is how average people build wealth.
Speaker 1: If you're a high income earner, you can afford to
Speaker 1: max out your wrath ira A or you know, probably
Speaker 1: not a roth ira, but you're right, traditional ira A
Speaker 1: you know in one Fell, Swoop whatever. But not everyone
Speaker 1: can do that. So if you are somebody who you
Speaker 1: know is finding it hard to max out your retirement accounts,
Speaker 1: set up an auto invest today and invest every month,
Speaker 1: no matter how little it is, for the rest of
Speaker 1: your working life. I appreciate that you highlighted this one
Speaker 1: because I would agree. I think it's one of the again,
Speaker 1: most attainable, most helpful gifts to our future selves. Again,
Speaker 1: if everything else feels overwhelming, you're not certain what to do.
Speaker 1: You know you're not going to hire somebody investing has
Speaker 1: never been on your radar. At least do this at
Speaker 1: least contribute to your for O one k, at least
Speaker 1: open a roth IRA and invest regularly. Yes again, and
Speaker 1: I love the permission to that you're highlighting of even
Speaker 1: if it's ten bucks. Hopefully you can do more and
Speaker 1: do more as you're able, But just get the consistency going. Yeah,
Speaker 1: maybe just get that four oh one K match if
Speaker 1: you have access to it. I don't I don't care
Speaker 1: if you're paying off debt, if you're trying to save
Speaker 1: an emergency fund, if you're saving to redo your kitchen,
Speaker 1: I don't care what you're doing. What are you talking
Speaker 1: to now? I feel I feel called out. I'm just
Speaker 1: saying there's no excuses, just a little bit every month
Speaker 1: for the rest of your working life. Beautiful. Number four
Speaker 1: on here is use just one discount broker. You don't
Speaker 1: have to be all over the place. Just find one
Speaker 1: such as Vanguard or Fidelity Charles Swab all the did
Speaker 1: I even say that, right? Swab? It's a tough one.
Speaker 1: So cute. They all have the capabilities necessary to accommodate
Speaker 1: the type of investing that you know we would do
Speaker 1: most listeners would be doing. And so by making a
Speaker 1: commitment to just one of them, not only can you
Speaker 1: receive potentially some added benefits once you reach a certain
Speaker 1: threshold or level. But you can also see your entire
Speaker 1: portfolio at once in one snapshot, and I think that's
Speaker 1: a huge component here. We just we want to talk
Speaker 1: about ease of accessing these things, knowing what's happening, knowing
Speaker 1: where money is, how it's growing. If we've got things
Speaker 1: all over the place, like it's like where did I
Speaker 1: put my car keys? Well, how about we just find
Speaker 1: one place that we generally keep our car keys, then
Speaker 1: we always know where our car keys are. A silly illustration,
Speaker 1: but you get the point. So this is again, if
Speaker 1: we're talking minimalist investing, simple investing, something that is going
Speaker 1: to be attainable for us, that will have longevity to it.
Speaker 1: This is another one of those just having one broker
Speaker 1: keeping everything there. They've got most of these places have
Speaker 1: what you need. You don't. You don't need to have
Speaker 1: ten different spots. Yeah, And if you're trying to figure
Speaker 1: out where do I open my row I ARRA or
Speaker 1: do I need to move it or something. If you
Speaker 1: want to have a purely like minimalist portfolio, you definitely,
Speaker 1: I mean I would say just open a wrath Era
Speaker 1: wherever your four oh one K is at and most
Speaker 1: Fidelity is a huge offer of four oh one k s.
Speaker 1: It's a great place to also open a rath bire A.
Speaker 1: Charles Schwab is great, Vanguard is great. If you don't
Speaker 1: have a great four oh one k then you can
Speaker 1: use one of those, and you can just use something
Speaker 1: like Personal Capital, which aggregates all of your accounts in
Speaker 1: one place. You can see everything in the same place there.
Speaker 1: We also like m one if you want a robo advisor.
Speaker 1: So what a robo advisor is, it's just like creates
Speaker 1: a more complex portfolio for you. And auto rebalance is it.
Speaker 1: I don't know if you can choose how often, but
Speaker 1: typically I think it's quarterly that it rebalances for you,
Speaker 1: so that if you don't want to have anything to
Speaker 1: do with any of this. M one finance is there's
Speaker 1: no fee. I think that's the main reason that I
Speaker 1: like it, because a lot of robo advisors charge a
Speaker 1: point to five fee to manage on top of the
Speaker 1: fees on the index funds, and that's not huge, but
Speaker 1: if you can avoid it, why not. And and one
Speaker 1: Finance doesn't charge it, so and if you open a
Speaker 1: raphaira there you can support the show spoiler Alert, Frugal
Speaker 1: Friends podcast, dot Com, slash m one. But um so yeah,
Speaker 1: so those are kind of like our our favorites, but
Speaker 1: honestly having as few accounts as possible as our favorite.
Speaker 1: So that freedom and that yeah, and then the last
Speaker 1: one I thought was really interesting and this is going
Speaker 1: to be really cool for all of our fire people,
Speaker 1: like our financial independence enthusiasts, is only access your accounts
Speaker 1: from a computer. So if you are the type to
Speaker 1: obsessively check your accounts, it says I quote, is a
Speaker 1: futile exercise. Don't do it, don't look at it. It's
Speaker 1: not important enough to have on your phone to check
Speaker 1: at any hour of the day, like you don't. Human
Speaker 1: behavioral economics and behavioral psychology really encourages us not to
Speaker 1: do that. So only have it on your computer and
Speaker 1: check it occasionally, and maybe don't even check it when
Speaker 1: there's like a big like crash going on. Just don't
Speaker 1: let like, don't let yourself be tempted by that. So
Speaker 1: it's such a good tip and I think really helps
Speaker 1: us to understand how investing works. I think we can
Speaker 1: see these people who are constantly checking accounts and it's like,
Speaker 1: that's not the right way to go about it is
Speaker 1: not how investing actually works. Not how you're going to
Speaker 1: see return on your investments is by constantly checking it.
Speaker 1: Watch pot never boils. All right, Yes, absolutely, I loved
Speaker 1: all of these tips and I think they're all so true,
Speaker 1: Like like from one through five, Like you could have
Speaker 1: can have a one I totally balanced one fund portfolio.
Speaker 1: So there's that you can get away with checking it
Speaker 1: once a year and rebalancing it. You can set up
Speaker 1: auto invest once and never look at it again. You
Speaker 1: could have one discount broker and do everything from the
Speaker 1: same place and then only access it from one place.
Speaker 1: Like that is how easy it is. And yeah, that's
Speaker 1: I wholeheartedly believe all of these I'm putting you on
Speaker 1: the spot here. But for our listeners who are very
Speaker 1: new to this concept, when you say check it once
Speaker 1: a year and rebalance, how are you using that word rebalance? Well,
Speaker 1: so that gets into our next article, let's do it.
Speaker 1: That's you didn't even know you were seguing, did you
Speaker 1: know what? Okay? So so our next article is called
Speaker 1: three simple Portfolios. How investing like a minimalist can maximize
Speaker 1: your results. And this is from Chris Reading writing I'm sorry,
Speaker 1: Chris Um, I'm sorry. I'm sorry. Charles Schwab rush Swab,
Speaker 1: don't care, Juck, don't care. But yeah, So when I
Speaker 1: say rebalancing, I mean getting your investments back into balance
Speaker 1: in the ratios that we talk about in these three
Speaker 1: minimalist portfolios. So if you have, like I was saying,
Speaker 1: like a one fund portfolio like we're going to talk about,
Speaker 1: you actually don't need to rebalance it. It rebalances like
Speaker 1: whoever runs it rebalances it for you. So like a
Speaker 1: Vanguard or fidelity, they'll do it for you. And they're
Speaker 1: not even robo advisors, so like you don't even need
Speaker 1: a robo advisor for that. But if you choose the
Speaker 1: two or three fund portfolios, or if you have other
Speaker 1: funds or stocks you want to dive into, then you
Speaker 1: only need to rebalance into the ratios that you decide
Speaker 1: you want. So if you pick one of these and
Speaker 1: you love it and you want to stick with it,
Speaker 1: then probably if we have a good year, stocks are
Speaker 1: going to grow faster than bonds. So by the end
Speaker 1: of one year, where if you wanted sixty stocks and bonds,
Speaker 1: by the end of the year, you're probably maybe going
Speaker 1: to be somewhere around stocks and bonds just because of
Speaker 1: the disproportionate growth. And so in that case, if you
Speaker 1: want to stick with that sixty, you have to rebalance
Speaker 1: and sell some of your trade some of your stocks
Speaker 1: for bonds. So that's what that means. You can also
Speaker 1: not care and just let your stocks keep going and
Speaker 1: going if you're far away from retirement. That's kind of
Speaker 1: the approach I take. I take a very easy approach
Speaker 1: to investing, not as minimalist but just lazy because we
Speaker 1: don't plan to retire early, well not that early, so
Speaker 1: we're still pretty far away from retirements. So it's like
Speaker 1: I can be we can be volatile, we can be aggressive,
Speaker 1: so we're just you know, seeing where the market takes us.
Speaker 1: We can take risks and be lazy. Yeah, I mean
Speaker 1: you really can be lazy with this. It's fine. So yeah,
Speaker 1: we'll take a look at three different minimalist portfolios and
Speaker 1: these are what you put into your again primarily roth Ira.
Speaker 1: A lot of four oh one k s will give
Speaker 1: you these options too, so you can completely put these
Speaker 1: into your four oh one K, four oh three, B
Speaker 1: seven whatever if they're available. Sometimes they won't be, but
Speaker 1: at least the one fund should be. But Jill, what
Speaker 1: do you think about this article? Well, this article just
Speaker 1: spoke to me off the bat because there's a picture
Speaker 1: of van like camper van, tiny, tiny home living, and
Speaker 1: I'm like, Okay, I could do this, and they're talking
Speaker 1: about investing. This is great for me. But also I
Speaker 1: really appreciated what they had to say in their introduction,
Speaker 1: even before they talk about the different types of portfolios,
Speaker 1: just giving some supportive arguments for minimalist investing. And I
Speaker 1: love this quote that they utilize, which comes from the
Speaker 1: twelve step program, but take what you want, leave the rest.
Speaker 1: And I think too, this is such a mantra of
Speaker 1: frugality in all aspects. We love talking about minimalism, simplicity,
Speaker 1: eco friendly, eco sustainability, all of these things. And this
Speaker 1: is that idea of take what you want, take what
Speaker 1: you need, but leave the us. We don't have to
Speaker 1: be greedy with it all. And similarly with investing, we
Speaker 1: can go get what you need, get what you want,
Speaker 1: but don't feel like you've got to do everything that
Speaker 1: everybody is saying you should be doing. You don't got
Speaker 1: to be checking it constantly, moving things, having money all
Speaker 1: over the place, so there's freedom in that. I also
Speaker 1: like what they have to say about financial advisors, and
Speaker 1: then you know, no shade to financial advisors. There's a
Speaker 1: time and a place and can be really really helpful.
Speaker 1: I've enjoyed talking with my financial advisor friends on this.
Speaker 1: But this concept of we, a lot of times can
Speaker 1: correlate complexity with being better, and that's not always the case,
Speaker 1: Like sometimes simplicity is better, and a lot of times
Speaker 1: there is pressure on financial advisors to constantly be tinkering
Speaker 1: and tweaking with your investments so that you feel as
Speaker 1: the you're getting your money's worth. And I've actually heard
Speaker 1: this from some of my financial advisor friends. I mean,
Speaker 1: obviously they believe in their profession and I think it's
Speaker 1: a it's a great aim in life. But we were
Speaker 1: even talking with one of our friends recently who does
Speaker 1: this for people, like manages others portfolios, and he's like,
Speaker 1: I've got one client who wants me to call him
Speaker 1: the second that there's a dip or a rise in
Speaker 1: the market, or like just before when I see that
Speaker 1: the trend is going this direction, and he's just like,
Speaker 1: I don't, I don't who does he think I am
Speaker 1: like I don't have a magic wand I don't know,
Speaker 1: and even then like you don't want to be reactionary,
Speaker 1: But that's that's just it. I think sometimes if we
Speaker 1: think we've got a financial advisor, we want to see
Speaker 1: them doing something, they feel the pressure of it, and
Speaker 1: so we're not actually getting that much return in our
Speaker 1: investments when we go with a financial advisor. Oftentimes. They've
Speaker 1: got some really interesting studies listed in this article that
Speaker 1: have been done. That one was researchers performed a sting operation,
Speaker 1: which is kind of a funny term to be talking
Speaker 1: about with the world, but it's the term they used
Speaker 1: in this research. They did a sting operation of sending
Speaker 1: hundreds of fake clients to actual, real financial advisors and
Speaker 1: found that the advisors were encouraging these clients to chase returns.
Speaker 1: They recommended strategies that line to their own pockets and
Speaker 1: pushed expensive active funds. And there's another research project that
Speaker 1: was done that had similar results to it. So it's
Speaker 1: just interesting. I think, again, we're all different personal finances.
Speaker 1: Personal for some it absolutely makes sense, but also know
Speaker 1: that if you are choosing to do this on your own,
Speaker 1: simply minimally you're not going wrong in that direction either.
Speaker 1: It is possible to make wise financial investing decisions without
Speaker 1: paying some need to help you with that. Absolutely. I
Speaker 1: think financial advisors are best for high net worth individuals.
Speaker 1: They offer a lot of tax tax loss harvesting and
Speaker 1: tax benefits and a lot of things that when you
Speaker 1: have a lot of money you don't necessarily have time
Speaker 1: or desire to learn to do yourself. And like that's
Speaker 1: when they are really beneficial. And some won't even take
Speaker 1: you unless you have like one hundred thousand, you know, invested,
Speaker 1: or five hundred thousands, so like there's a reason for that.
Speaker 1: If I was a rich girl, then I would have
Speaker 1: don't don't say anymore, we'll have to pay for it. Um.
Speaker 1: So I want to touch on another quote from this article.
Speaker 1: This is smidge different, but it's from Morgan Housel and
Speaker 1: he is he's like, he's like our I don't want
Speaker 1: to say Kim Kardashian, but he's maybe our Chloe Kardashian
Speaker 1: in the personal finance world. He's so great and so
Speaker 1: he this guy actually interviewed him. I don't know who
Speaker 1: who the writer of this is, but like cool for him.
Speaker 1: Morgan Housel told him, I'm actually now down to the
Speaker 1: Vanguard Total Stock Market Index and Berkshire Hathaway. My entire
Speaker 1: net worth is now literally a checking account, a house,
Speaker 1: and those two stocks. I don't think it needs to
Speaker 1: be more complicated than that. Mike Drop and Morgan Housel
Speaker 1: is um. He is a smart guy in personal in finance,
Speaker 1: So if he's saying it, I mean I wouldn't recommend.
Speaker 1: I don't necessarily desire to have this portfolio. Morgan probably
Speaker 1: has more money than me, so I don't know, but
Speaker 1: I thought it was really interesting. That's somebody that knows
Speaker 1: so much about personal finance literally just has like one stock,
Speaker 1: and Total Stock Market Index is a fund rather than
Speaker 1: a stock. But he could have an e t F
Speaker 1: which is traded on the stock market, so you know,
Speaker 1: he could technically have two stocks. But Berkshire Hathaway is um.
Speaker 1: Warren Buffett's like holding his his thing, um, and people
Speaker 1: love Warren Buffett. So yeah, I thought that was really
Speaker 1: McDonald's every day. Yeah, I mean, who didn't love that?
Speaker 1: Who didn't love it? So we're those are need Those
Speaker 1: are not the portfolios we're gonna be talking about in
Speaker 1: this article, but it is an option again as something
Speaker 1: that you can like take and leave. And we're not
Speaker 1: even going to cover ratios in this, but we'll we'll
Speaker 1: just cover the actual like what's in it. So yeah.
Speaker 1: The first one is the one fund portfolio, and this
Speaker 1: is a typically referred to as a target retirement fund.
Speaker 1: Fidelity calls them freedom funds, but what it is is
Speaker 1: a fund that starts out you choose it based on
Speaker 1: like when you think you're going to retire, So I
Speaker 1: started with a target date fund. And this is typically
Speaker 1: the default choice in a four oh one K plan
Speaker 1: that offers the fund. So if you opt in and
Speaker 1: turn it on and you're investing in it, getting the
Speaker 1: match and you haven't picked anything. Typically if it's run
Speaker 1: by Fidelity or Vanguard, this is what you're going to
Speaker 1: be in is one of these target retirement funds. And
Speaker 1: that's totally fine if you don't want to think about
Speaker 1: rebalancing a portfolio ever, totally fine. It has slightly higher
Speaker 1: fees then if you were to do a d I
Speaker 1: Y fund like a two or three. So that's why
Speaker 1: people who study the stuff tend to promote the two
Speaker 1: and three fund portfolio more, but have one fund portfolio.
Speaker 1: It is totally fine. It's great, it's awesome, it's loving. Yeah,
Speaker 1: it's great something like it's not it's not just like something.
Speaker 1: It's like a good option. Um. And and it will
Speaker 1: rebalance get more conservative the closer you get to that
Speaker 1: target date that's the fund is named after, which is
Speaker 1: theoretically your retirement date. If you want something a little
Speaker 1: more aggressive, you can go out. You can get something
Speaker 1: like that's you know, five or ten years after you
Speaker 1: kind of plan to retire. So it's even customizable and
Speaker 1: that you're not stuck with one choice. You can you
Speaker 1: can pick any of them. But yeah, so it will
Speaker 1: auto rebalance for you. The reason I'm not in it
Speaker 1: a is because, like I study this stuff and so
Speaker 1: I'm I like picking and rebalancing, but also because it
Speaker 1: was a little too conservative for me. I'm a more
Speaker 1: aggressive investor, so I wanted more stocks and equities than
Speaker 1: the one fund one fund portfolio offered. Um. But if
Speaker 1: you're nervous about it, you're you know, a little weary.
Speaker 1: One fun portfolio great, great, solid choice for beginners and
Speaker 1: not for anybody, for anybody. So the second example and
Speaker 1: option is the two fund portfolio. So the examples given
Speaker 1: here is through Fidelity, this could look like having a
Speaker 1: total market index and US bond index. If using Vanguard,
Speaker 1: this might look like total stock market index total bond
Speaker 1: market index. So again just examples depending on if you're
Speaker 1: using Fidelity or Vanguard. But that's what a two fund
Speaker 1: portfolio might look like. Yeah, and the ratios vary based
Speaker 1: on how like what you want. I think typical advice.
Speaker 1: This is not advice. Typical like recommendations have been have
Speaker 1: your age in bonds, so like I'm thirty two, so
Speaker 1: somebody would just say have thirty in bonds and the
Speaker 1: rest in stocks. So and that's typically what the one
Speaker 1: fund portfolio will kind of try to do. But that's
Speaker 1: the one that Morgan Housel was saying, the total stock
Speaker 1: market Index. That's the fund, like he's almost entirely in
Speaker 1: most of our portfolio is in the Vanguard Total stock
Speaker 1: Market Index. This is something that people I've seen t
Speaker 1: shirts with the v T S A X. It just
Speaker 1: all of says, is v T S A X people
Speaker 1: love And that's the symbol for the Vanguard Total stock
Speaker 1: Mark Stop it. Yeah, I'm serious, you can't. I don't
Speaker 1: know where they get them. I don't know where they
Speaker 1: where were you? I was that financial media coperas? I mean,
Speaker 1: but this exists, like people love this fun. You don't
Speaker 1: see the v b uh, I don't s t X
Speaker 1: or whatever. The bond should make that one. I we
Speaker 1: should make that shirt the bond fund. But yeah, so
Speaker 1: I want to point out here. Two is that when
Speaker 1: you go and look at or when you hear returns,
Speaker 1: like a lot of people will use ten percent as
Speaker 1: a average return when they're doing math on the stock market,
Speaker 1: because that's what the SMP five hundred has returned over
Speaker 1: um its lifetime, which that was in the fifties. I
Speaker 1: think the SMP five hundred switched um and cut out
Speaker 1: like a number of funds, and I think that since
Speaker 1: then it's had like an eight percent. But since it's
Speaker 1: never wreck commended to be a hundred percent in stocks
Speaker 1: or in equities, I think we can we can all agree,
Speaker 1: Like you don't hear anybody recommend that you're gonna have
Speaker 1: some bonds which like don't return like that at all.
Speaker 1: So it's I like to use a seven percent when
Speaker 1: I'm doing math, because that accounts for inflation, it accounts
Speaker 1: for you know, bare ample markets over time and having bonds,
Speaker 1: you know. So that's kind of how I do it
Speaker 1: and why I do it. You can do it however
Speaker 1: you want. Hey, it's it's better to under promise and
Speaker 1: over deliver. That would be surprised that in time you
Speaker 1: see ten percent return but anticipate seven. Yeah. So when
Speaker 1: I was starting out, I did the two fund portfolio. Well,
Speaker 1: when I was starting out, I did the one fund,
Speaker 1: and then when I got hit the minimums for the
Speaker 1: two funds in Vanguard, this was when the minimums were higher.
Speaker 1: But um, then I transferred to I did it too
Speaker 1: fund portfolio, and I dident equities and ten percent bonds.
Speaker 1: So like I'm really aggressive, but I still have some bonds.
Speaker 1: And so that's like a really common ratio. Sixty stocks
Speaker 1: two bonds also really common. So pick what feels good
Speaker 1: to you and and go with that and then once
Speaker 1: a you rebalance it to get back to whatever feels
Speaker 1: good to you. Beautiful, that's it, and then buy a shirt.
Speaker 1: This is you know, V T S A X or something,
Speaker 1: I don't know. That's when you're real deep though, That's yeah,
Speaker 1: that's when you're real deep. So once you increase your
Speaker 1: net worth. Um, we were too fun for a long time,
Speaker 1: and then we actually had a meeting with a financial
Speaker 1: advisor who recommended we upgrade to a three fund portfolio.
Speaker 1: So that's where we mostly are now, plus some like
Speaker 1: play around funds, but the book bulk of our portfolio
Speaker 1: is still too fun. But we have added a total
Speaker 1: international fund, so international equities, because the US is not
Speaker 1: the only place where businesses are. There are businesses in
Speaker 1: China and the UK and Japan. Like you mean to
Speaker 1: tell me people are working around the world, right, do
Speaker 1: you drive a Toyota or Hunt or a Subaru? Like
Speaker 1: those are not American And yeah, I love my Toyotas,
Speaker 1: even though I don't have Toyota right now, but that's
Speaker 1: another story. So having some cash in international equities can
Speaker 1: help just like diversify the portfolio even more, and diversification
Speaker 1: theoretically protects it from the ups and downs of the
Speaker 1: American market. So yeah, that I mean, then you get
Speaker 1: into the weeds and how you can like divvy up
Speaker 1: the US. I think we were told for US is
Speaker 1: good to have there, um And they didn't say to
Speaker 1: change the bond allocation at all, but um, so yeah,
Speaker 1: there is if you are interested in learning more about that,
Speaker 1: you can just search for Bogel heads, which is probably.
Speaker 1: Those are probably and I won't get a virus on
Speaker 1: my computer. But right, those are the probably the people
Speaker 1: that made the v T s a X shirt. But
Speaker 1: it's the creator of Vangard is Jack Bogel, and he
Speaker 1: has like a fan club and they religiously promote the
Speaker 1: three fund portfolio, and so that is those are the
Speaker 1: minimalist portfolios. Those, Yeah, that's it when everybody's asking you
Speaker 1: about all these new gadgets and new things, and you
Speaker 1: can just say I decided, all right, this is what
Speaker 1: I'm going And you know what, I love this last
Speaker 1: part at the where he's wrapping up and he's saying,
Speaker 1: nine nine point nine nine of investing is doing nothing.
Speaker 1: Do you feel validated, Jen? Yeah, I mean I've I
Speaker 1: didn't feel bad before, but you called yourself lazy and
Speaker 1: now you can just yeah, I meant that as a compliment.
Speaker 1: Work I work more efficiently. Um so work smarter, not harder.
Speaker 1: And so this guy says his entire net worth is
Speaker 1: an SMP five index, a handful of stocks, a condo,
Speaker 1: and a checking account. So this guy also very minimalist,
Speaker 1: and honestly, like between the SMP five hundred and the
Speaker 1: Total Stock Market Index. You won't find a big difference.
Speaker 1: Don't like over analyze, like, oh, should I be in both?
Speaker 1: It's it's not. It doesn't make a big difference. They're both.
Speaker 1: The Total Stock market is primarily the SMP five hundred
Speaker 1: companies because they're so big, you know, it just has
Speaker 1: those smaller companies in there as well. So that's why
Speaker 1: I like it a little bit more than SPID, because
Speaker 1: I like to have the smaller size companies too, because
Speaker 1: why not they're there? You know, you know what else
Speaker 1: is here? And why not you? Yeah, the week, that's right,
Speaker 1: it's time for the best minute of your entire week.
Speaker 1: Maybe a baby was born and his name is William.
Speaker 1: Maybe you paid off your mortgage. Maybe your car died
Speaker 1: and you're happy to not have to pay that bill anymore.
Speaker 1: Tough bills, Buffalo bills, Bill Clinton, this is the bill
Speaker 1: of the week. Hey ladies, this is Peyton from Jackson
Speaker 1: with Florida. I first of all, love the pod. Love
Speaker 1: that it feels uplifting and inclusive, and it just makes
Speaker 1: me smile whenever I listened to It makes something like
Speaker 1: budgeting and frugality be fun. My bill of the week
Speaker 1: is that I signed up for a meal kit subscription.
Speaker 1: And I know that it's not normally a very frugal choice,
Speaker 1: but I work three jobs um one full time, one contract,
Speaker 1: and then one part time, and I am also involved
Speaker 1: a lot of stuff and running around and I have
Speaker 1: I Before I signed up, I subsisted on eating spaghetti
Speaker 1: and I would batch make pancakes and I felt so gross.
Speaker 1: But I signed up for the milk kit and they
Speaker 1: sent it over to my house and I can cook
Speaker 1: the meals. And it is a bill that I am
Speaker 1: so happy to pay because it saves me a lot
Speaker 1: of time and just a lot of mind space that
Speaker 1: I can put toward other things. And I kind of
Speaker 1: try to make it frugal. I signed up for one
Speaker 1: of the cheaper options, even though it does a little
Speaker 1: bit less of the prep work for me. And I
Speaker 1: also signed up to get to servings and every meal,
Speaker 1: and I'll have one for dinner and then one for lunch.
Speaker 1: So I am paying to have dinners and lunches. So
Speaker 1: love that. Love you guys, and hope you're doing good
Speaker 1: bye Peyton. We love a good meal plan for meal kit.
Speaker 1: In busy seasons of life. If you're working three jobs
Speaker 1: and you're on your own and you find that you're
Speaker 1: just not able to then like value and prioritize food,
Speaker 1: which is so important to keep you running because that's
Speaker 1: what you're doing when you've got three jobs. I get it.
Speaker 1: I support it, And that's again that's what frugality is about,
Speaker 1: is where are the values and time is important and
Speaker 1: valuable to and what we choose to put that towards.
Speaker 1: So I love that this is creating some convenience and
Speaker 1: just giving your body better nutrition. Yeah, definitely. And you
Speaker 1: also like have to play this game of like what
Speaker 1: is a better use of my time if I have
Speaker 1: the emotional, physical, mental capacity to work and make this
Speaker 1: you know, this much money every week, but I am
Speaker 1: and I can get a meal kit versus buying groceries,
Speaker 1: and so I spend a little bit more here, but
Speaker 1: I'm still the inflow of cash is higher doing it
Speaker 1: this way than it is not working that third job
Speaker 1: and just trying to save on groceries. So like you,
Speaker 1: you do the math and you see like what is
Speaker 1: you know better and while still being sustainable and not
Speaker 1: going to burn out? So we all pay for convenience
Speaker 1: don't let people who hate on you for because I
Speaker 1: know everyone loves to talk about slashing grocery budget and
Speaker 1: we talk about that constantly. But like you said, Jen,
Speaker 1: and busy seasons and recognizing what else you're able to
Speaker 1: do with your time, it's totally permissible because while yes,
Speaker 1: you're paying for convenience, I do imagine it's it's not
Speaker 1: astronomical like sometimes we do imagine, especially when you're repurposing
Speaker 1: those dinners. It's awesome, Baton. I'm so glad for you.
Speaker 1: If you have a bill, whether it's a subscription that
Speaker 1: you really value, you're glad to be paying for it
Speaker 1: for what it affords, a mix available for your life,
Speaker 1: or you just know a person named Bill and maybe
Speaker 1: they're the ones who deliver your your meal gets subscription
Speaker 1: Thanky Bill, or you know anything related to Bill. Because
Speaker 1: we keep it Loosing Goosey, visit Frugal Friends podcast dot com,
Speaker 1: slash Bill. Leave us a bill. We're excited to hear it.
Speaker 1: Lucy Goosey. This Bill of the Week is brought to
Speaker 1: you by following us on Instagram, so we are posting
Speaker 1: more regularly on Instagram. We're sharing tips from the episodes
Speaker 1: where to find our lovely guests and the people who
Speaker 1: write the articles we talk about, and the occasional fun
Speaker 1: video where we make fun of cuponning but not really
Speaker 1: because I sometimes we hang out late at night and
Speaker 1: we find things funny and we have video recorded that
Speaker 1: may or may not make it on Instagrams. Are like,
Speaker 1: you guys think that you're more funny than you actually are.
Speaker 1: Right now, finally we're just like, stop it, let's let
Speaker 1: the world decide. And then the world decides and we cry.
Speaker 1: But if you are on Instagram and you want to
Speaker 1: see some visual reinforcement from these episodes, you just want
Speaker 1: to see our faces more in the form of short
Speaker 1: bids and info graphics. Follow us over at Focal Friends podcast.
Speaker 1: And now it's time for who Lightning Someday, Jen, you
Speaker 1: gotta just scare me with your Lightning Round. I don't
Speaker 1: think I will. I want to shake in my boots,
Speaker 1: which are actually my slippers. I am actually wearing running
Speaker 1: shoes right now because I have an ankle injury and
Speaker 1: they're the most padded shoes that I own. Yeah, but anyways,
Speaker 1: today's Lightning Round is going to be us sharing our
Speaker 1: versions of minimalist portfolios. And we do it differently, and
Speaker 1: we even do it I mean, we love all of
Speaker 1: the tips from the articles we read, but we even
Speaker 1: do it differently from that. So again, this is really
Speaker 1: something you need to make your own. And if somebody
Speaker 1: is telling you this is the way to do it,
Speaker 1: do it my way. There's no other way, or my
Speaker 1: way beats the market. More. Don't run from those run
Speaker 1: from everything that those poor site. So I will go first, um,
Speaker 1: because in all honesty, I don't have a minimalist portfolio.
Speaker 1: In terms of funds. I have probably fewer funds than most,
Speaker 1: not most, I don't know. I like to. I have
Speaker 1: some funds I like to play around with. I have
Speaker 1: some like E s G funds, which is um environment
Speaker 1: social governance like focused funds. I have some medical funds
Speaker 1: like that are just health related because I spoiler invest
Speaker 1: in my values, you know, so I value health and
Speaker 1: so I like to, you know, play around with that.
Speaker 1: I was an acupuncturist for five years, so that we
Speaker 1: don't talk about that enough. A cool background, but yeah,
Speaker 1: so that's something I'm interested in, so I invest in it.
Speaker 1: And environmental sustainability something I'm passionate about. Something I invest in.
Speaker 1: So I think the key that we try to get
Speaker 1: across in the short one hour time span we have
Speaker 1: with you each week is to tell you this is
Speaker 1: just one way to do it. This is the easiest
Speaker 1: way maybe, but then you get you graduate from easy.
Speaker 1: You should graduate from easy, like you know we do.
Speaker 1: We did the baby steps from Dave Ramsey when we
Speaker 1: were starting out. Those were easy, and then we learned
Speaker 1: more and we graduated from them, you know, so this
Speaker 1: is like the path of lease resistance. Yeah, I'm still
Speaker 1: um working towards graduation, you know, still just like iron
Speaker 1: out that Cathin gown. Thanks to this podcast and you, Jen,
Speaker 1: I actually have a retirement investment account. So that is
Speaker 1: on greatest accomplishment of this entire three probably years, probably
Speaker 1: setting you up with a fire ray. Jen literally did
Speaker 1: do it in living room. So that's on auto draft.
Speaker 1: So really that what was it tip number three from
Speaker 1: the first article. I'm doing that and I could not
Speaker 1: be more pleased for that. And you know, when we're
Speaker 1: talking about net worth for us, you're calling me out
Speaker 1: on a gen but our house is part of that
Speaker 1: and building up to a point where we can bring
Speaker 1: in money with our current real estate situation and then
Speaker 1: invest more. That's what my sites are on next. Yeah,
Speaker 1: I just don't want you to ever turn off your
Speaker 1: auto draft no matter I'm increasing it. I've increased it
Speaker 1: since you set me up with it. I love that
Speaker 1: about you. Thanks Jenn that I think. I love your
Speaker 1: championing me in it. I will champion everyone. I want
Speaker 1: anybody that starts investing from this episode or does something
Speaker 1: takes action at all, you d m s at Frugal
Speaker 1: Friends podcast, I'm gonna celebrate you like I want to
Speaker 1: celebrate you. I love it. Yeah, that's probably the most
Speaker 1: minimalist thing about my portfolio is that I don't look
Speaker 1: at it often. I trade once a year if I'm lucky,
Speaker 1: and then yeah, I'm on auto draft, so every month
Speaker 1: the money comes out and it just does it and
Speaker 1: I we do. We max out our raphae rays, Travis
Speaker 1: and I each and that's kind of like, honestly the
Speaker 1: only thing we do right now. We don't even invest
Speaker 1: in four oh n k s. And some people are
Speaker 1: going to be like, well A, because I don't have
Speaker 1: a four oh one k. I'm self employed and I
Speaker 1: haven't set up a solo one and Travis is for
Speaker 1: one k options are really bad. So we decided we
Speaker 1: want to invest in real estate instead beautiful So instead
Speaker 1: of tying up the money, you know, we're still doing
Speaker 1: twelve grand a year. That's not that's not going to
Speaker 1: shake your hand your stick at I gotta stick that is.
Speaker 1: That's a saying, so I'm shaking it. So yeah, that's
Speaker 1: how we do it. I don't think any like financial
Speaker 1: expert has a perfect portfolio. I like want to I
Speaker 1: know them, I like know these people, and nobody has
Speaker 1: the perfect portfolio. You shouldn't have a perfect portfolio because
Speaker 1: everyone situation is unique, right Like, even though the majority
Speaker 1: of advice is going to say you should have a
Speaker 1: roth ira A and a four oh kay, Well what
Speaker 1: happens when both you and your spouse don't have that
Speaker 1: option available to you and the four one B doesn't
Speaker 1: make sense? And is the four or three B? Yeah,
Speaker 1: four or three b um plans are notorious for being horrible,
Speaker 1: like with very high fee annuities. We're getting into the
Speaker 1: weeds now, but I will say, if you have a
Speaker 1: four oh three B, that's very high fee four oh
Speaker 1: three B wise dot org really great resource um mainly
Speaker 1: for teachers. I know, we have a lot of teachers
Speaker 1: that listen, so um, it's a great resource on maybe
Speaker 1: how it might be possible for you to get in
Speaker 1: a better type of plan. So you still have that
Speaker 1: text advantaged option in addition to a Raphael ray. So
Speaker 1: that's all for this episode. I know it was a lot,
Speaker 1: but definitely reach out to us on Instagram if you
Speaker 1: have any questions, comments, concerns. Again, this was for educational
Speaker 1: purposes only. This is not financial advice. If you want
Speaker 1: specific advice for your personal situation, then reach out to
Speaker 1: a certified financial planner of fiduciary CFP. And now with
Speaker 1: that disclaimer, please don't sue us. Thank you so much
Speaker 1: for listening, and thank you for your kind reviews. Thank
Speaker 1: you for not leaving one star reviews if you don't
Speaker 1: agree with of what we say, like ogre Joel who
Speaker 1: left a five star review and said, I love the accessible,
Speaker 1: fun way these ladies teach about finance and frugality. I
Speaker 1: laugh out loud during each episode and have learned so much.
Speaker 1: A new episode every Friday keeps me motivated and on
Speaker 1: track with my financial goals. Yes, such a great and
Speaker 1: encouraging review. Thank you, Joel Than. We also thank our
Speaker 1: friends who share these episodes on social media. So when
Speaker 1: you share the latest episode and tag us on Facebook
Speaker 1: or Instagram, and like we said, we're hanging out more
Speaker 1: on Instagram, so hit us up there t see it,
Speaker 1: we more likely go to see it. Now we are
Speaker 1: adding you to our monthly drawing. So the way that
Speaker 1: that works, for every five tags and reviews we get
Speaker 1: each month, we give away a copy of the Frugal
Speaker 1: Friends Workbook. If you've been listening to us long enough,
Speaker 1: you know that that Frugal Friends work Book comes with
Speaker 1: two downloads, so essentially as a two for one reward. Yes,
Speaker 1: and this is the last month you'll be able to
Speaker 1: get the Frugal Friends work Book. I know I said
Speaker 1: that a few months ago, but um I realized we
Speaker 1: didn't have anything else to give you. But starting next
Speaker 1: month we will. So yeah, and you can't no longer
Speaker 1: buy the workbook anymore. So that is a thing. This
Speaker 1: is no This workbook is no longer for sale. So
Speaker 1: keep leaving us those reviews on iTunes or stihert and
Speaker 1: sending the screenshot to Frugal Friends podcast at gmail dot com.
Speaker 1: Don't forget to tag us on social see you next week.
Speaker 1: Frugal Friends is produced by Eric Sirian. I sat next
Speaker 1: to this guy on a plane once, and he must
Speaker 1: have paid for the internet on the plane to then
Speaker 1: be able to call instantly look at his stocks and investments.
Speaker 1: He was just like and and he was like fiendish
Speaker 1: about it too, Like I swear he was sweating and
Speaker 1: it's thumbs were going a mile a minute. At first,
Speaker 1: I thought like, oh, man, like, he's really being productive
Speaker 1: on this flight. I'm just queuing up a movie. And
Speaker 1: then I'm like, actually, he doing too much. Though you
Speaker 1: can definitely do too much. He wanted the people next
Speaker 1: to him to see what he was doing, like he
Speaker 1: wanted people to be looking over and realized saying, oh yeah,
Speaker 1: look at him. He's got in destment accounts and he
Speaker 1: must know about them and keep the track of Um,
Speaker 1: you got that big stock energy. I think it was
Speaker 1: it was probably honestly bitcoin that he was driving. Oh God,
Speaker 1: I gotta buy this internet on the plane, because there's
Speaker 1: no time to waste. I gotta keep mining. I gotta
Speaker 1: keep mining to the moon. Oh my gosh. Our our
Speaker 1: friend Chris Browning, Um, he said, he said it so eloquently.
Speaker 1: Its like investing should be like watching paint dry. That's
Speaker 1: that's I mean, yeah, it should not be an exciting endeavor. No,
Speaker 1: And I think it's good to like, it's good to
Speaker 1: have conversations with people that don't agree with you, because
Speaker 1: there are some people who believe that actively managed mutual
Speaker 1: funds are superior to passive index funds that you can
Speaker 1: manage yourself. And it's good to remember that that ideology
Speaker 1: is still out there, and it's uh, it's not as
Speaker 1: mainstream anymore. And I haven't met one person in finance
Speaker 1: that agrees that actively managed like commission based money managers
Speaker 1: that hawk these actively managements. Because there are some actively
Speaker 1: managed funds that are pre legit, like if you're super
Speaker 1: into a certain type of sector, some of those can
Speaker 1: only be bought actively managed, But I'm talking about like
Speaker 1: the five percent front load um type of funds, Like
Speaker 1: there are still people that believe that those are superior.
Speaker 1: And so the work we're doing is good for people.
Speaker 1: If your financial advisor doesn't take a fee and he
Speaker 1: makes money on your investments, they may not be promoting
Speaker 1: the best investments for you. Well, we'll see those people
Speaker 1: in thirty years of compare notes Uh, catch me on Instagram,
Speaker 1: we'll talk about it.