1
00:00:00,080 --> 00:00:03,240
Speaker 1: Welcome to Head of Money. I'm Joel, I'm Matt, and

2
00:00:03,279 --> 00:00:05,800
Speaker 1: today we're going to answer some of your listener questions.

3
00:00:24,880 --> 00:00:28,680
Speaker 2: That's right, buddy, We've got let's see five excellent listener

4
00:00:28,760 --> 00:00:29,960
Speaker 2: money questions to get to.

5
00:00:29,960 --> 00:00:31,160
Speaker 3: Today. We're gonna talk.

6
00:00:31,000 --> 00:00:35,560
Speaker 2: About finding a tax professional, specifically a listener. He wants

7
00:00:35,560 --> 00:00:37,520
Speaker 2: to know how much he should be paying and actually

8
00:00:37,560 --> 00:00:40,520
Speaker 2: whether or not he should be considering a tax pro

9
00:00:40,600 --> 00:00:42,600
Speaker 2: We'll get into all that here in a second. Another

10
00:00:42,640 --> 00:00:45,520
Speaker 2: listener's got millions of dollars in the bank. He's still

11
00:00:45,720 --> 00:00:48,360
Speaker 2: using his ziploc bags. He wants to know how we

12
00:00:48,400 --> 00:00:51,480
Speaker 2: feel about that, whether we endorse this move or whether

13
00:00:51,479 --> 00:00:52,879
Speaker 2: we're gonna put the gobash on it.

14
00:00:53,120 --> 00:00:55,480
Speaker 1: Are they actual name brand Ziploc bags, Matt, or are

15
00:00:55,520 --> 00:00:56,280
Speaker 1: they the generics?

16
00:00:56,360 --> 00:01:00,160
Speaker 2: Is it Boulder that's the that's the Aldie brand. Of

17
00:01:00,240 --> 00:01:01,360
Speaker 2: course I know the Boulder bags.

18
00:01:01,360 --> 00:01:04,960
Speaker 1: And of course in recent months, Costco has launched Kirklan's

19
00:01:04,959 --> 00:01:07,960
Speaker 1: signature rivals to the zip blocks they're shaking in their boots.

20
00:01:08,040 --> 00:01:11,640
Speaker 3: Yeah, oh it's been I hardly ever get over to

21
00:01:11,840 --> 00:01:14,160
Speaker 3: the Costco as much anymore, much to your great shame.

22
00:01:14,280 --> 00:01:16,679
Speaker 2: I'm really only heading over there to get the Kirklemansig

23
00:01:17,760 --> 00:01:21,360
Speaker 2: smoker pellets, and then also the meat that needs to

24
00:01:21,360 --> 00:01:22,880
Speaker 2: go on top of the trigger whatever.

25
00:01:22,920 --> 00:01:23,479
Speaker 3: I do want to.

26
00:01:23,480 --> 00:01:25,120
Speaker 2: Spoke a big old hunk of meat. That's a good

27
00:01:25,360 --> 00:01:27,759
Speaker 2: reason to venture it is it's not typically something I'm

28
00:01:27,760 --> 00:01:30,560
Speaker 2: going to find at Aldi the big like a brisket.

29
00:01:31,319 --> 00:01:32,160
Speaker 3: That's good for report.

30
00:01:32,160 --> 00:01:35,399
Speaker 2: But I wanted to also highlight one other listener question

31
00:01:36,040 --> 00:01:38,560
Speaker 2: that's more of a homeowner's question. She's got a question

32
00:01:38,600 --> 00:01:42,120
Speaker 2: about her termite bond or termite warranty, I.

33
00:01:42,120 --> 00:01:43,600
Speaker 3: Think is what she calls it. But we'll get to

34
00:01:43,680 --> 00:01:46,199
Speaker 3: those plus more during our episode today.

35
00:01:46,240 --> 00:01:48,440
Speaker 1: Yeah, those can be expensive. What do you do when

36
00:01:48,480 --> 00:01:50,920
Speaker 1: it feels like it's breaking the budget? Matt quickly wanted

37
00:01:50,920 --> 00:01:54,280
Speaker 1: to mention I stayed for the first time ever at

38
00:01:54,280 --> 00:01:57,720
Speaker 1: a timeshare resort. Oh, do tell well? This was the

39
00:01:57,800 --> 00:02:01,880
Speaker 1: listeners because I know, well, this was just because of

40
00:02:01,920 --> 00:02:05,120
Speaker 1: the generosity of something. They said, Hey, I've got extra

41
00:02:05,440 --> 00:02:08,320
Speaker 1: extra points, would you like to stay? I would like

42
00:02:08,320 --> 00:02:09,800
Speaker 1: to use some of those points for a free stay

43
00:02:10,000 --> 00:02:12,920
Speaker 1: for you and your family. And I was like, yes, please,

44
00:02:13,000 --> 00:02:15,200
Speaker 1: thank you very much, And it was it was such

45
00:02:15,200 --> 00:02:16,840
Speaker 1: a pleasant experience. We had the best we had the

46
00:02:16,880 --> 00:02:19,840
Speaker 1: best trip and nice to have free lodging when you go,

47
00:02:20,240 --> 00:02:25,000
Speaker 1: so that was awesome one of the things. Uh, there

48
00:02:25,040 --> 00:02:27,040
Speaker 1: were some things I really liked about it, including like

49
00:02:27,080 --> 00:02:28,760
Speaker 1: they have this like activity center and we did some

50
00:02:28,760 --> 00:02:31,440
Speaker 1: family activities. That was like a fun, different, unique part

51
00:02:31,520 --> 00:02:36,120
Speaker 1: of a trip too. But then there was when I

52
00:02:36,200 --> 00:02:39,079
Speaker 1: like when I signed in or when I like checked in,

53
00:02:39,480 --> 00:02:41,000
Speaker 1: they said, hey, do you want to go to a

54
00:02:41,080 --> 00:02:42,000
Speaker 1: times your presentation?

55
00:02:42,960 --> 00:02:46,240
Speaker 2: Of course they did, so, yeah, you started with a pros,

56
00:02:46,320 --> 00:02:47,520
Speaker 2: but then you got to the cons.

57
00:02:47,760 --> 00:02:50,679
Speaker 1: Well they asked him that they honestly were not ridiculously

58
00:02:50,680 --> 00:02:53,760
Speaker 1: pushy about it or anything like that, but I said,

59
00:02:53,840 --> 00:02:56,240
Speaker 1: you know what, I don't know. I think I might

60
00:02:56,280 --> 00:02:58,680
Speaker 1: be interested in in it. What's like, what do I

61
00:02:58,720 --> 00:03:01,720
Speaker 1: get if I go? And they said, well, you get

62
00:03:01,919 --> 00:03:04,880
Speaker 1: seven seven free nights at any one of our places.

63
00:03:05,600 --> 00:03:08,799
Speaker 2: That's a lot. Actually, okay, so did you go. It's

64
00:03:08,800 --> 00:03:11,000
Speaker 2: like a free a free week. I was like, okay,

65
00:03:11,000 --> 00:03:11,959
Speaker 2: completely free vacation.

66
00:03:12,120 --> 00:03:14,160
Speaker 1: And I mentioned the activity center. I was like, wait

67
00:03:14,160 --> 00:03:16,160
Speaker 1: a second, if I go it this time on this day,

68
00:03:16,240 --> 00:03:18,560
Speaker 1: my family can go do this activity while I sit

69
00:03:19,160 --> 00:03:23,840
Speaker 1: in the presentation and perfect as like a personal finance

70
00:03:23,919 --> 00:03:26,880
Speaker 1: podcast host, I'm like, this is great fodder for the show.

71
00:03:26,919 --> 00:03:28,560
Speaker 1: Like I need to have at some point in my

72
00:03:28,600 --> 00:03:31,240
Speaker 1: life sat in a timeshare presentation to know what it's like.

73
00:03:31,480 --> 00:03:32,680
Speaker 3: Yeah, so I was like, this is like that.

74
00:03:32,720 --> 00:03:34,120
Speaker 2: Can't be the only one who's ever sat in a

75
00:03:34,120 --> 00:03:36,960
Speaker 2: timeshare presentation from twenty five years ago.

76
00:03:38,000 --> 00:03:39,240
Speaker 1: I did it when I was in college. This is

77
00:03:39,240 --> 00:03:42,000
Speaker 1: doubly beneficial. Didn't get a free week and also have

78
00:03:42,240 --> 00:03:45,560
Speaker 1: something some understanding, more understanding of the timeshare industry. But

79
00:03:47,120 --> 00:03:48,960
Speaker 1: I signed up and then they were like, okay, well

80
00:03:48,960 --> 00:03:51,120
Speaker 1: actually your your wife has to come with you, and

81
00:03:51,160 --> 00:03:52,840
Speaker 1: I was like, well, we get our kids here, and

82
00:03:54,000 --> 00:03:57,520
Speaker 1: so it didn't end up working out. I basically said, yeah,

83
00:03:57,680 --> 00:04:00,680
Speaker 1: I'm not it's not worth it from to that extent

84
00:04:00,720 --> 00:04:02,280
Speaker 1: if it's just me and they can go do something.

85
00:04:02,360 --> 00:04:03,040
Speaker 3: Yeah, So you.

86
00:04:03,000 --> 00:04:04,200
Speaker 2: Would have done it if it was just you, I

87
00:04:04,240 --> 00:04:06,400
Speaker 2: would have How long was the presentation hour and a half.

88
00:04:06,640 --> 00:04:08,720
Speaker 3: Oh, that's not so bad of course.

89
00:04:08,960 --> 00:04:10,960
Speaker 2: Either way, I'm proud of you for sticking to your

90
00:04:10,960 --> 00:04:13,760
Speaker 2: guns and realizing at the stage of life that we're in,

91
00:04:14,120 --> 00:04:16,400
Speaker 2: our time is just more valuable. Like we are being

92
00:04:16,400 --> 00:04:19,280
Speaker 2: pulled in different directions by so many different things, right,

93
00:04:19,320 --> 00:04:22,120
Speaker 2: like obviously your everyone's mind immediately goes to your career

94
00:04:22,160 --> 00:04:24,080
Speaker 2: and the time spent there. But then like socially, I'm

95
00:04:24,080 --> 00:04:26,640
Speaker 2: thinking about the time that's being required of me, like

96
00:04:26,680 --> 00:04:28,440
Speaker 2: for my kids and all the things that they want

97
00:04:28,480 --> 00:04:30,000
Speaker 2: to do and the things that they want to tell

98
00:04:30,040 --> 00:04:32,640
Speaker 2: me about my friend. But then like our parents on

99
00:04:32,680 --> 00:04:34,200
Speaker 2: the other side of us as well, right like the

100
00:04:34,240 --> 00:04:36,880
Speaker 2: older generation, we're kind of we're being pulled in that way,

101
00:04:36,920 --> 00:04:38,479
Speaker 2: And so I don't think there's any other time in

102
00:04:38,480 --> 00:04:41,120
Speaker 2: our life where we're gonna feel like we have so

103
00:04:41,200 --> 00:04:44,600
Speaker 2: little time. It's like a multiplier effect compared to it's

104
00:04:44,640 --> 00:04:46,360
Speaker 2: like right now, it feels like it feels like my

105
00:04:46,440 --> 00:04:49,240
Speaker 2: time's worth four x what it was like ten years ago,

106
00:04:49,560 --> 00:04:51,640
Speaker 2: And it feels like it's gonna like like ten years

107
00:04:51,640 --> 00:04:53,520
Speaker 2: from ten years from now, I feel like it'll be

108
00:04:53,560 --> 00:04:55,280
Speaker 2: four times less as well. But like right now, man,

109
00:04:55,320 --> 00:04:58,240
Speaker 2: it just feels it's just it's just ramped up. It's

110
00:04:58,279 --> 00:05:00,400
Speaker 2: ramped up even more. Yeah, So I I had the

111
00:05:00,440 --> 00:05:02,760
Speaker 2: factor that and in just like the annoyance my wife's like,

112
00:05:02,800 --> 00:05:04,120
Speaker 2: I don't I don't want to go to that. I

113
00:05:04,160 --> 00:05:06,000
Speaker 2: was willing to like hang out with the kids while

114
00:05:06,040 --> 00:05:08,560
Speaker 2: you go, but I don't want to go check that out.

115
00:05:08,839 --> 00:05:10,040
Speaker 3: So uh and while you're.

116
00:05:09,960 --> 00:05:13,720
Speaker 1: On vacation, Yeah, that's another multiple, that's another vacation. If

117
00:05:13,720 --> 00:05:16,080
Speaker 1: that hour and a half leads to more vacation, then

118
00:05:16,120 --> 00:05:17,719
Speaker 1: it's like, I don't know, I could justify it.

119
00:05:17,800 --> 00:05:21,599
Speaker 2: Vacation time is more valuable too. That's another multiplier as well,

120
00:05:21,640 --> 00:05:24,200
Speaker 2: because an hour and a half at home, okay whatever,

121
00:05:24,240 --> 00:05:26,359
Speaker 2: I'm not doing anything, but when you're somewhere you would like,

122
00:05:26,400 --> 00:05:28,280
Speaker 2: somewhere special, you want to I don't know, there's things

123
00:05:28,320 --> 00:05:29,800
Speaker 2: I want to be doing that all the time. It's

124
00:05:29,800 --> 00:05:31,840
Speaker 2: why I'm willing to pay more for car rentals now,

125
00:05:32,040 --> 00:05:34,640
Speaker 2: because the thought of waiting in line or not having.

126
00:05:35,360 --> 00:05:36,440
Speaker 3: Do you not have to wait in line if you

127
00:05:36,440 --> 00:05:36,800
Speaker 3: pay more?

128
00:05:36,839 --> 00:05:39,040
Speaker 2: Well, I'm thinking about once I'm going with a more

129
00:05:39,040 --> 00:05:43,800
Speaker 2: discounted car rental agency. And I stood there and there's

130
00:05:43,839 --> 00:05:45,919
Speaker 2: like fifteen people. It took me for I think I

131
00:05:45,960 --> 00:05:47,520
Speaker 2: told the story. It took me like forty five minutes

132
00:05:47,560 --> 00:05:48,960
Speaker 2: to get through this line. And I looked over at

133
00:05:48,960 --> 00:05:51,159
Speaker 2: the nicer one that a lot of folks have heard of.

134
00:05:51,440 --> 00:05:54,760
Speaker 2: There's nobody in line and they're just sitting there talking

135
00:05:54,800 --> 00:05:55,160
Speaker 2: to each other.

136
00:05:55,320 --> 00:05:56,720
Speaker 3: Is that anomaly or is that always true?

137
00:05:56,800 --> 00:05:59,520
Speaker 2: I don't know, am I'm experientially that's true. And so

138
00:05:59,680 --> 00:06:01,760
Speaker 2: because that and I've also had I told the story

139
00:06:01,760 --> 00:06:05,520
Speaker 2: about when the more affordable option didn't have my car,

140
00:06:05,600 --> 00:06:09,320
Speaker 2: which then sent me on a hours long wasting mission

141
00:06:09,400 --> 00:06:11,920
Speaker 2: in order to find a vehicle that I could take anyway,

142
00:06:12,120 --> 00:06:14,560
Speaker 2: all that being said, I'm just pointing out that they

143
00:06:14,600 --> 00:06:16,440
Speaker 2: need to be paying a premium while you're on vacation

144
00:06:16,480 --> 00:06:17,480
Speaker 2: because the hours.

145
00:06:17,279 --> 00:06:19,880
Speaker 3: Spent while you're on vacation or those are real valuable.

146
00:06:19,920 --> 00:06:22,400
Speaker 1: Man. Just know, for everybody out there listening, if you're

147
00:06:22,480 --> 00:06:25,480
Speaker 1: interested in going to a timeshare presentation and you are married,

148
00:06:25,839 --> 00:06:28,120
Speaker 1: they're gonna want your spouse, and in fact, I think

149
00:06:28,160 --> 00:06:31,360
Speaker 1: they typically they're obligated to. Your spouse has to be there.

150
00:06:31,680 --> 00:06:34,560
Speaker 1: That's a fellow decision maker, and so you they're going

151
00:06:34,640 --> 00:06:35,919
Speaker 1: to want to make sure both of you sign on

152
00:06:35,920 --> 00:06:38,279
Speaker 1: the dotted line and not just you, So you can't

153
00:06:38,279 --> 00:06:39,800
Speaker 1: do it if your spouse isn't willing to.

154
00:06:39,960 --> 00:06:41,000
Speaker 3: That's so interesting that they don't.

155
00:06:41,000 --> 00:06:42,680
Speaker 1: Don't force them to come along and force your kids

156
00:06:42,680 --> 00:06:44,000
Speaker 1: to come Like I was, just like, now I gotta

157
00:06:44,040 --> 00:06:44,320
Speaker 1: do that.

158
00:06:44,440 --> 00:06:45,000
Speaker 3: I don't want to do.

159
00:06:45,080 --> 00:06:46,840
Speaker 2: That it's so interesting. I would I would almost think

160
00:06:46,839 --> 00:06:49,719
Speaker 2: the opposite. I would almost think that if both of

161
00:06:49,720 --> 00:06:51,520
Speaker 2: them are there, like there's one person who's going to

162
00:06:51,560 --> 00:06:53,840
Speaker 2: say no, no, no, like we're not going to sign

163
00:06:53,960 --> 00:06:56,039
Speaker 2: on the dotted line here, Like there's one person in

164
00:06:56,040 --> 00:06:57,680
Speaker 2: the relationship who thinks.

165
00:06:57,400 --> 00:07:02,160
Speaker 3: More rationally yeah, logically perhaps, and another who might get

166
00:07:02,200 --> 00:07:02,760
Speaker 3: carried away.

167
00:07:02,839 --> 00:07:06,600
Speaker 2: And that I guess there's all different rhymes and reasons

168
00:07:06,600 --> 00:07:07,120
Speaker 2: that they do.

169
00:07:07,080 --> 00:07:07,760
Speaker 3: It the way they do well.

170
00:07:07,839 --> 00:07:10,480
Speaker 1: That next vacation I was already plotting. I had to

171
00:07:10,600 --> 00:07:12,600
Speaker 1: kind of start rolling back that back in my mind.

172
00:07:13,080 --> 00:07:14,840
Speaker 1: All right, let's mention the beer we're having on this episode.

173
00:07:14,840 --> 00:07:17,040
Speaker 1: This one, of course, is by Berial because it's called

174
00:07:17,320 --> 00:07:20,720
Speaker 1: the Scars on Greedy Palms, and they have just the

175
00:07:20,760 --> 00:07:23,640
Speaker 1: most interesting names of their beers. I think they just

176
00:07:23,760 --> 00:07:28,000
Speaker 1: like put in some sort of dystopian word generator or

177
00:07:28,040 --> 00:07:31,040
Speaker 1: phrase generator, and that's what they put on all their beers.

178
00:07:31,080 --> 00:07:33,600
Speaker 2: I think they can train whatever AI model on their

179
00:07:33,640 --> 00:07:37,040
Speaker 2: previous names of their beers and come up with an infinite.

180
00:07:36,760 --> 00:07:38,560
Speaker 3: Number one hundred percent of new beers.

181
00:07:38,640 --> 00:07:40,760
Speaker 2: Yes, that would also taste delicious. That's sorry, I can't

182
00:07:40,760 --> 00:07:42,400
Speaker 2: wait to talk about this one at the end for sure.

183
00:07:42,480 --> 00:07:44,320
Speaker 1: Already so good, all right, And if you have a

184
00:07:44,360 --> 00:07:46,960
Speaker 1: money question, we would love to hear from you. Just

185
00:07:47,960 --> 00:07:50,400
Speaker 1: think what your money question is, record it into the

186
00:07:50,440 --> 00:07:52,640
Speaker 1: voice memo app on your phone, just state your name

187
00:07:52,680 --> 00:07:55,200
Speaker 1: at the very beginning, send it back over to us,

188
00:07:55,520 --> 00:07:58,000
Speaker 1: and hopefully we can take it next week on the show.

189
00:07:58,160 --> 00:08:00,800
Speaker 1: We'd love to have an abundance of variety of your

190
00:08:00,840 --> 00:08:03,680
Speaker 1: listener questions to take to help you as an individual,

191
00:08:03,720 --> 00:08:06,440
Speaker 1: then also to help all of the How Money community

192
00:08:06,480 --> 00:08:09,280
Speaker 1: as well. Man, let's get to the first question for

193
00:08:09,400 --> 00:08:13,000
Speaker 1: this episode. This one's specifically about finding somebody to help

194
00:08:13,040 --> 00:08:13,640
Speaker 1: them out with their.

195
00:08:13,560 --> 00:08:15,880
Speaker 4: Money a Joel Matt Big Fans.

196
00:08:16,000 --> 00:08:19,400
Speaker 5: My name is Lucas from escal in California, and I

197
00:08:19,440 --> 00:08:22,640
Speaker 5: had a quick question on how to go about seeking

198
00:08:22,720 --> 00:08:26,360
Speaker 5: and choosing a tax professional to help plan for retirement.

199
00:08:26,720 --> 00:08:29,200
Speaker 5: My wife and I are in a stage now where

200
00:08:29,360 --> 00:08:32,240
Speaker 5: we're looking at hopefully maxing out our eras and other

201
00:08:32,360 --> 00:08:36,280
Speaker 5: tax advantaged retirement accounts, but don't really know where to

202
00:08:36,320 --> 00:08:40,040
Speaker 5: go next, and so we're looking for wisdom, but we

203
00:08:40,080 --> 00:08:42,480
Speaker 5: also don't know who to go for for wisdom. So

204
00:08:43,120 --> 00:08:46,960
Speaker 5: any advice that you could give on how to seek

205
00:08:47,000 --> 00:08:50,480
Speaker 5: those professionals who to look for how much money to

206
00:08:50,520 --> 00:08:54,160
Speaker 5: spend when seeking those professionals would be tremendously helpful.

207
00:08:54,240 --> 00:08:57,760
Speaker 3: Thank you so much. Joel Lucas is looking for wisdom.

208
00:08:57,840 --> 00:09:00,400
Speaker 3: He came to the right place, did he all right? Talking?

209
00:09:00,840 --> 00:09:01,000
Speaker 4: Oh?

210
00:09:01,040 --> 00:09:04,400
Speaker 3: I thought you were referring to yourself humble as always. No,

211
00:09:04,440 --> 00:09:05,680
Speaker 3: I'm referring to you, my friend.

212
00:09:06,040 --> 00:09:08,400
Speaker 1: Well, I don't know if that's true, but we'll do

213
00:09:08,440 --> 00:09:10,800
Speaker 1: our best here, Lucas. And first you said you were

214
00:09:10,840 --> 00:09:14,480
Speaker 1: looking for a tax professional, but you also then mentioned

215
00:09:14,520 --> 00:09:18,000
Speaker 1: saving for retirement, so it doesn't necessarily sound like you're

216
00:09:18,040 --> 00:09:21,520
Speaker 1: looking specifically for a tax professional, but maybe for more

217
00:09:21,559 --> 00:09:24,080
Speaker 1: like a financial advisor who kind of keeps their eyes

218
00:09:24,559 --> 00:09:27,560
Speaker 1: on the tax ramifications of different choices you might make,

219
00:09:27,920 --> 00:09:31,199
Speaker 1: which totally makes sense, and I think it is one

220
00:09:31,200 --> 00:09:34,160
Speaker 1: of the biggest reasons that you should consider hiring help

221
00:09:34,520 --> 00:09:40,240
Speaker 1: is because the tax ramifications of downstream impacts of even

222
00:09:40,360 --> 00:09:43,560
Speaker 1: small mistakes that we might make, they can't add up significantly,

223
00:09:43,800 --> 00:09:46,480
Speaker 1: especially as we near retirement and our net worth has

224
00:09:46,520 --> 00:09:49,280
Speaker 1: grown significantly. It's something that you really do need to

225
00:09:49,280 --> 00:09:50,120
Speaker 1: pay attention to.

226
00:09:50,120 --> 00:09:50,480
Speaker 3: Totally.

227
00:09:50,520 --> 00:09:53,400
Speaker 2: Yeah, So, for instance, let's say you're trying to simplify

228
00:09:53,640 --> 00:09:58,800
Speaker 2: your portfolio by selling certain holdings in your taxable brokerage account, well,

229
00:09:59,040 --> 00:10:01,280
Speaker 2: you are likely going to run up a tax bell,

230
00:10:02,120 --> 00:10:04,760
Speaker 2: potentially even into the five figures, maybe even more, and

231
00:10:04,840 --> 00:10:08,080
Speaker 2: that could be avoided with proper planning. There are many

232
00:10:08,080 --> 00:10:09,800
Speaker 2: investors and a lot of folks who are listening who

233
00:10:09,840 --> 00:10:12,480
Speaker 2: might be diligent about saving and investing, but that being said,

234
00:10:12,679 --> 00:10:15,679
Speaker 2: they may not be as in tune with the tax

235
00:10:15,720 --> 00:10:19,679
Speaker 2: code as well as the consequences of buying and selling

236
00:10:19,760 --> 00:10:20,760
Speaker 2: some of their different assets.

237
00:10:20,840 --> 00:10:21,840
Speaker 3: I'd be curious to know, Matt.

238
00:10:21,880 --> 00:10:24,960
Speaker 1: Even for everyone listening like to do, how to money

239
00:10:24,960 --> 00:10:28,640
Speaker 1: listeners understand what percentage you understand that they're doing something

240
00:10:28,679 --> 00:10:31,679
Speaker 1: like short term and long term capital gains taxes and

241
00:10:31,920 --> 00:10:34,360
Speaker 1: when you pay what and what the time period is

242
00:10:34,400 --> 00:10:36,560
Speaker 1: involved in there? Right, Like that's kind of a that's

243
00:10:36,600 --> 00:10:38,280
Speaker 1: even like one on one in some ways. But I

244
00:10:38,320 --> 00:10:40,360
Speaker 1: think a lot of people don't necessarily know the difference.

245
00:10:40,240 --> 00:10:41,480
Speaker 2: And a lot of it comes down to the fact

246
00:10:41,480 --> 00:10:44,800
Speaker 2: that one of these things we do frequently, typically every

247
00:10:44,840 --> 00:10:47,800
Speaker 2: single month, as we dollar cost of dollar cost average

248
00:10:47,800 --> 00:10:49,840
Speaker 2: into the market, and then some of these other decisions

249
00:10:49,840 --> 00:10:52,440
Speaker 2: are rarely done and because of that, we were just

250
00:10:52,600 --> 00:10:56,199
Speaker 2: less experienced typically with that. But when and how much

251
00:10:56,240 --> 00:10:58,160
Speaker 2: it is that you sell, Like I wist see it

252
00:10:58,160 --> 00:11:00,920
Speaker 2: as much of an art as a science, and I'm

253
00:11:00,920 --> 00:11:03,000
Speaker 2: not talking about timing the market, but you do there

254
00:11:03,040 --> 00:11:06,320
Speaker 2: is a way to avoid as much of the tax

255
00:11:06,600 --> 00:11:09,000
Speaker 2: bill as possible and having the help of a pro

256
00:11:09,280 --> 00:11:12,520
Speaker 2: who has walked I mean hopefully like hundreds of other

257
00:11:12,559 --> 00:11:15,680
Speaker 2: clients through similar circumstances, that can help you to avoid

258
00:11:15,720 --> 00:11:18,320
Speaker 2: some of the potential tax stumbling blocks that you might

259
00:11:18,400 --> 00:11:21,680
Speaker 2: run into. Yeah, almost making me think of like someone

260
00:11:21,760 --> 00:11:24,520
Speaker 2: climbing Mountain Everest. Man, if I wanted to go climb Everest,

261
00:11:24,559 --> 00:11:27,360
Speaker 2: which I have zero desire to do that, but if

262
00:11:27,360 --> 00:11:30,320
Speaker 2: I did, I would probably hire one of the fabled

263
00:11:30,400 --> 00:11:32,680
Speaker 2: shurpas who's like scurried up and down the.

264
00:11:32,679 --> 00:11:35,760
Speaker 1: Mountain carry all your stuff for you. That would be nice, right,

265
00:11:35,840 --> 00:11:38,480
Speaker 1: get up with a little bit lighter load. And it's

266
00:11:38,679 --> 00:11:43,360
Speaker 1: amazing like how those surpas, because they're used to that climate,

267
00:11:43,440 --> 00:11:46,160
Speaker 1: they're used to the mountain and the conditions, like they

268
00:11:46,200 --> 00:11:48,040
Speaker 1: can carry that stuff and still be like ten times

269
00:11:48,080 --> 00:11:50,319
Speaker 1: faster than the average person.

270
00:11:50,080 --> 00:11:50,720
Speaker 3: Going to climb.

271
00:11:51,000 --> 00:11:52,719
Speaker 1: And I think it's part of it. Yeah, it's just

272
00:11:52,760 --> 00:11:55,120
Speaker 1: that experience that they have, the knowledge that they have,

273
00:11:55,520 --> 00:11:58,800
Speaker 1: and there is something really really valuable about that. But

274
00:11:58,840 --> 00:12:01,559
Speaker 1: if you're in the wealth building phase of your life, Lucas,

275
00:12:01,600 --> 00:12:04,200
Speaker 1: like looking to fill up those tax advantaged accounts, you

276
00:12:04,240 --> 00:12:05,959
Speaker 1: can likely do a lot of that stuff on your

277
00:12:05,960 --> 00:12:08,559
Speaker 1: own right without the help and the added expensive a

278
00:12:08,679 --> 00:12:11,719
Speaker 1: tax professional. So right now you're trying to max out

279
00:12:11,720 --> 00:12:14,640
Speaker 1: your iras and your workplace accounts, which is wonderful. It's

280
00:12:14,679 --> 00:12:17,800
Speaker 1: something that we applaud and that we recommend. This show

281
00:12:17,880 --> 00:12:21,040
Speaker 1: really is built and geared towards people like you to

282
00:12:21,080 --> 00:12:22,959
Speaker 1: give you the advice and the encouragement you need to

283
00:12:23,040 --> 00:12:25,480
Speaker 1: keep on pressing towards that goal and to build that

284
00:12:25,559 --> 00:12:28,840
Speaker 1: net worth up while you're in your working years. But

285
00:12:29,000 --> 00:12:31,200
Speaker 1: you might not need a professional to help you pull

286
00:12:31,240 --> 00:12:33,880
Speaker 1: that part of it off, right. That might be something

287
00:12:33,880 --> 00:12:37,240
Speaker 1: that really is within your own grasp. It's all about

288
00:12:37,320 --> 00:12:40,640
Speaker 1: like growing the gap between earning and spending, diversifying, keeping

289
00:12:40,679 --> 00:12:43,520
Speaker 1: costs low, like the stuff we talk about pretty regularly,

290
00:12:43,559 --> 00:12:45,560
Speaker 1: and you're doing that quite well at this point, and

291
00:12:45,600 --> 00:12:48,040
Speaker 1: so I would just kind of take a long, hard

292
00:12:48,040 --> 00:12:50,920
Speaker 1: look at exactly where you're at. You might need hired

293
00:12:50,920 --> 00:12:53,120
Speaker 1: help in the future, But do you actually need that

294
00:12:53,240 --> 00:12:57,400
Speaker 1: hired help today, Like instead of climbing Everest, if you're like,

295
00:12:57,400 --> 00:13:01,560
Speaker 1: I'm just going to do a five thousand foot mountain, right,

296
00:13:01,760 --> 00:13:03,600
Speaker 1: I'm going to climb that thing. I can do that

297
00:13:03,640 --> 00:13:05,439
Speaker 1: on my own. Like, that's the state. Maybe that's the

298
00:13:05,480 --> 00:13:08,080
Speaker 1: stage you're in. And once you get to Everest levels,

299
00:13:08,080 --> 00:13:10,079
Speaker 1: that's when you do need the sharper to come along

300
00:13:10,120 --> 00:13:12,560
Speaker 1: with you. But yeah, so much that depends on where

301
00:13:12,600 --> 00:13:16,080
Speaker 1: you actually find yourself, what stage of the wealth building

302
00:13:16,120 --> 00:13:16,760
Speaker 1: process you're in.

303
00:13:16,960 --> 00:13:19,120
Speaker 2: Yeah, And so it's not a hard and fast rule

304
00:13:19,160 --> 00:13:21,520
Speaker 2: that you should hire a pro once you reach the

305
00:13:21,920 --> 00:13:24,760
Speaker 2: one or two million dollar net worth threshold, but it

306
00:13:24,840 --> 00:13:27,560
Speaker 2: is often when advisors are more likely to have you

307
00:13:27,559 --> 00:13:29,720
Speaker 2: on as a client, although different FinTechs out there have

308
00:13:29,840 --> 00:13:32,360
Speaker 2: changed that. But it's also when the stakes are high

309
00:13:32,440 --> 00:13:35,640
Speaker 2: enough for this kind of decision to matter. And where

310
00:13:35,640 --> 00:13:37,640
Speaker 2: should you turn then? At that point, well, head over

311
00:13:37,679 --> 00:13:40,600
Speaker 2: to howdomoney dot com forward slash advisor. That is a

312
00:13:40,600 --> 00:13:43,800
Speaker 2: great place to look for a properly vetted, fee only

313
00:13:43,880 --> 00:13:47,480
Speaker 2: fiduciary advisor. We've partnered with the great folks over at

314
00:13:47,559 --> 00:13:50,720
Speaker 2: wealth Ramp and you can hire someone by the hour.

315
00:13:50,800 --> 00:13:53,720
Speaker 2: You can even hire them now, even if you're maybe

316
00:13:53,760 --> 00:13:55,960
Speaker 2: just looking almost for more of a tune up as

317
00:13:55,960 --> 00:13:59,200
Speaker 2: opposed to an ongoing relationship. Yeah, just to answer some

318
00:13:59,240 --> 00:14:01,880
Speaker 2: of the questions that you might have, or maybe this

319
00:14:01,920 --> 00:14:04,280
Speaker 2: is something you want to You've got your your sites

320
00:14:04,280 --> 00:14:06,679
Speaker 2: set for, you know, much further down the road, and

321
00:14:06,840 --> 00:14:10,319
Speaker 2: establishing an ongoing relationship is something that could pay off

322
00:14:10,320 --> 00:14:10,680
Speaker 2: as well.

323
00:14:10,679 --> 00:14:13,120
Speaker 1: And this is where paying attention to the compensation model

324
00:14:13,200 --> 00:14:15,960
Speaker 1: matters a ton and what it is that you need.

325
00:14:16,000 --> 00:14:18,120
Speaker 1: So you might go to how to money dot com,

326
00:14:18,160 --> 00:14:21,000
Speaker 1: slash advisor and say, well, I want to link up

327
00:14:21,000 --> 00:14:23,560
Speaker 1: with somebody and have an ongoing relationship and have like

328
00:14:23,600 --> 00:14:26,960
Speaker 1: an in depth financial plan created. And you can do that,

329
00:14:27,160 --> 00:14:30,040
Speaker 1: and that can cost a lot or and it might

330
00:14:30,040 --> 00:14:31,400
Speaker 1: be worth it again if you are in some of

331
00:14:31,400 --> 00:14:34,280
Speaker 1: those some of those later stages wealth preservation stages. But

332
00:14:34,320 --> 00:14:36,120
Speaker 1: if you're kind of early on, you're like, I just

333
00:14:36,200 --> 00:14:39,160
Speaker 1: have some really significant questions and I would like to

334
00:14:39,160 --> 00:14:42,080
Speaker 1: spend a couple of hours with somebody who really knows

335
00:14:42,080 --> 00:14:44,200
Speaker 1: what they're doing and has helped other people kind of

336
00:14:44,200 --> 00:14:47,320
Speaker 1: think through the ramp up phase. You can do that too, right,

337
00:14:47,320 --> 00:14:50,520
Speaker 1: and you can find somebody who will just you can

338
00:14:50,560 --> 00:14:54,080
Speaker 1: pay an hourly fee to and you can feel really

339
00:14:54,080 --> 00:14:57,920
Speaker 1: good about getting great advice without paying working over nearly

340
00:14:57,920 --> 00:15:00,360
Speaker 1: as much, and having an ongoing relationship where you're continue

341
00:15:00,400 --> 00:15:00,840
Speaker 1: to pay them a.

342
00:15:00,840 --> 00:15:01,480
Speaker 3: Year after year.

343
00:15:02,040 --> 00:15:05,360
Speaker 1: So how much should you be spending to hire this pro? Well,

344
00:15:05,520 --> 00:15:08,840
Speaker 1: that also depends, but we like the fee for service

345
00:15:08,880 --> 00:15:11,200
Speaker 1: model at paying someone at an hourly rate. I just think

346
00:15:11,240 --> 00:15:16,160
Speaker 1: it helps overall align incentives really well. There's so many

347
00:15:16,240 --> 00:15:20,120
Speaker 1: flawed models that tenderly to poor outcomes in the advisor

348
00:15:20,120 --> 00:15:24,800
Speaker 1: client relationship, specifically ones where there are commissions for selling

349
00:15:24,800 --> 00:15:27,680
Speaker 1: certain products. And then you have to think twice about

350
00:15:27,680 --> 00:15:30,920
Speaker 1: whether or not your advisor is recommending an insurance policy

351
00:15:31,280 --> 00:15:34,640
Speaker 1: because they stand to benefit financially by selling you that policy,

352
00:15:34,920 --> 00:15:37,440
Speaker 1: or if it's because it's actually the best thing for you.

353
00:15:38,120 --> 00:15:41,160
Speaker 1: And yet truth be told. Depending on all the stuff

354
00:15:41,200 --> 00:15:43,520
Speaker 1: we don't know about your finances, maybe things are getting

355
00:15:43,560 --> 00:15:45,800
Speaker 1: complicated enough where it makes sense for you to hire

356
00:15:45,800 --> 00:15:47,880
Speaker 1: someone in the near term. But we also just want

357
00:15:47,880 --> 00:15:51,040
Speaker 1: to stress that hiring an advisor is not a reason

358
00:15:51,360 --> 00:15:52,920
Speaker 1: to punt on learning for yourself.

359
00:15:52,960 --> 00:15:53,080
Speaker 6: Man.

360
00:15:53,120 --> 00:15:55,240
Speaker 1: I think that's one of the most important things we

361
00:15:55,320 --> 00:15:57,840
Speaker 1: talk about advisors. Some people think this means I can

362
00:15:57,920 --> 00:16:00,560
Speaker 1: check out of my financial life by hiring this pro

363
00:16:00,640 --> 00:16:03,160
Speaker 1: to handle it for me, and that doesn't work out

364
00:16:03,200 --> 00:16:04,680
Speaker 1: well for a lot of people. You see the stories

365
00:16:04,680 --> 00:16:07,360
Speaker 1: of professional athletes in particular, hiring someone to manage their

366
00:16:07,400 --> 00:16:11,680
Speaker 1: finances and then they end up destitute because that person

367
00:16:11,720 --> 00:16:14,200
Speaker 1: took advantage of them. It's kind of like managing a

368
00:16:14,280 --> 00:16:16,120
Speaker 1: rental property. You still want to know the ins and

369
00:16:16,200 --> 00:16:19,120
Speaker 1: outs of what it looks like to do proper and

370
00:16:19,200 --> 00:16:22,840
Speaker 1: effective landlording before you hire someone to do it for you.

371
00:16:23,240 --> 00:16:23,840
Speaker 3: That's right.

372
00:16:23,920 --> 00:16:26,640
Speaker 2: And in regards to specific amounts, typically when you are

373
00:16:26,680 --> 00:16:30,520
Speaker 2: looking at the assets under management model, you're looking at

374
00:16:30,560 --> 00:16:34,280
Speaker 2: one percent, and I'm pretty sure wealth ramps average is

375
00:16:34,320 --> 00:16:37,400
Speaker 2: actually much less than that on average, but you can

376
00:16:37,520 --> 00:16:39,360
Speaker 2: do that. Or if you're looking at the hourly rate,

377
00:16:39,440 --> 00:16:42,200
Speaker 2: it oftentimes just a few hundred bucks if you're looking

378
00:16:42,280 --> 00:16:44,520
Speaker 2: for more of that one time service. And you know

379
00:16:44,560 --> 00:16:46,560
Speaker 2: what he was saying early on too, that he was

380
00:16:46,600 --> 00:16:49,520
Speaker 2: looking at hiring a tax professional. If that is actually

381
00:16:49,560 --> 00:16:51,840
Speaker 2: the scenario that he's in, I would just say just

382
00:16:51,880 --> 00:16:55,160
Speaker 2: to start asking around, because I think starting conversations with

383
00:16:55,200 --> 00:16:57,440
Speaker 2: friends and I think you'd be surprised that the folks

384
00:16:57,600 --> 00:16:59,960
Speaker 2: who you think, hey, man, they've got to going on

385
00:17:00,000 --> 00:17:02,520
Speaker 2: and figuring out who they use for their CPA for

386
00:17:02,560 --> 00:17:06,040
Speaker 2: their accountant could lead to a great conversations with them.

387
00:17:06,640 --> 00:17:08,879
Speaker 2: Yas might be surprised because they might be like saving

388
00:17:09,000 --> 00:17:12,840
Speaker 2: for retirement. What are you talking about, bro? But I

389
00:17:12,880 --> 00:17:14,439
Speaker 2: think that could be a good way to find someone

390
00:17:14,640 --> 00:17:16,960
Speaker 2: there local to where you are, if you are looking

391
00:17:16,960 --> 00:17:20,080
Speaker 2: for someone who you can go to in person, show

392
00:17:20,160 --> 00:17:22,040
Speaker 2: up there in the office and have a great conversation.

393
00:17:22,400 --> 00:17:25,760
Speaker 2: And I will say, personally, my accountants, I pay a

394
00:17:25,800 --> 00:17:28,720
Speaker 2: round five hundred bucks for my personal return and that

395
00:17:28,760 --> 00:17:32,440
Speaker 2: comes with a whole host of handling. We've got a

396
00:17:32,440 --> 00:17:37,080
Speaker 2: pretty complicated personal tax return situation with investment properties and

397
00:17:37,440 --> 00:17:39,800
Speaker 2: owning your own business, Joel. So it's almost like we

398
00:17:39,880 --> 00:17:42,480
Speaker 2: have a very similar tax preparation process that you and

399
00:17:42,520 --> 00:17:45,760
Speaker 2: I have to get its true, but hopefully those are

400
00:17:45,800 --> 00:17:48,119
Speaker 2: some numbers that can get you, I guess thinking in

401
00:17:48,160 --> 00:17:48,440
Speaker 2: the right.

402
00:17:48,400 --> 00:17:49,159
Speaker 3: Direction, Lucas.

403
00:17:49,280 --> 00:17:51,080
Speaker 2: But Joel, you've got more to get to. We are

404
00:17:51,119 --> 00:17:53,200
Speaker 2: going to hear from a listener who thinks it might

405
00:17:53,240 --> 00:17:56,639
Speaker 2: be time actually for her parents to update their trust.

406
00:17:56,840 --> 00:17:59,600
Speaker 2: So we'll hear from her plus others right after this.

407
00:18:07,440 --> 00:18:09,159
Speaker 1: All right, Matt, we're back. I'm telling me some more

408
00:18:09,160 --> 00:18:11,960
Speaker 1: listener questions. This one is kind of a fun frugal or.

409
00:18:12,000 --> 00:18:15,400
Speaker 4: Cheap Hey, Joel and Matt, this is Ian from Virginia.

410
00:18:16,080 --> 00:18:19,920
Speaker 4: In one of your replay episodes last week, you mentioned

411
00:18:19,920 --> 00:18:24,560
Speaker 4: something about reusing ziploc bags. I just want to know,

412
00:18:25,240 --> 00:18:29,680
Speaker 4: is that still frugal or cheap? Even though I have

413
00:18:29,720 --> 00:18:33,000
Speaker 4: a net worth in the multiple millions, I still reuse

414
00:18:33,680 --> 00:18:36,720
Speaker 4: ziploc bags. So I'd like to hear of you two

415
00:18:36,880 --> 00:18:40,879
Speaker 4: could make me change my mind on that or maybe

416
00:18:40,920 --> 00:18:42,760
Speaker 4: agree with me. Thank you very much.

417
00:18:43,359 --> 00:18:44,960
Speaker 3: All Right, Joel, You're going to make Ian change his

418
00:18:45,000 --> 00:18:49,080
Speaker 3: mind prove me wrong, is what I do. I do

419
00:18:49,240 --> 00:18:49,399
Speaker 3: like that.

420
00:18:49,560 --> 00:18:52,080
Speaker 1: I'm down to try to change his mind.

421
00:18:52,080 --> 00:18:55,280
Speaker 2: I also appreciate that. I want to, Yeah, because because

422
00:18:55,280 --> 00:18:56,240
Speaker 2: you're downe with.

423
00:18:56,160 --> 00:18:57,560
Speaker 3: That, right, I'm down with it. Yeah.

424
00:18:57,600 --> 00:18:59,400
Speaker 1: And I just want to say, like, we love taking

425
00:18:59,440 --> 00:19:03,040
Speaker 1: frugaler cheap questions, and I personally I think reusing ziplock

426
00:19:03,119 --> 00:19:05,600
Speaker 1: bags is still fruit will not cheap. Oh yeah, it

427
00:19:05,640 --> 00:19:08,520
Speaker 1: depends on what you put in it, though, because oh yeah,

428
00:19:08,600 --> 00:19:11,840
Speaker 1: I'll reuse ziplock bags or some things, in particular some

429
00:19:11,960 --> 00:19:14,480
Speaker 1: of the things I perpetually bring to work which Matt

430
00:19:14,520 --> 00:19:16,840
Speaker 1: sees me snacking on, or almonds.

431
00:19:16,880 --> 00:19:18,800
Speaker 3: I'm looking over right now, you're oh, that is a

432
00:19:18,840 --> 00:19:20,000
Speaker 3: kind of a crummy looking bag.

433
00:19:20,480 --> 00:19:22,959
Speaker 1: It seemed better a few rounds of almonds in it.

434
00:19:23,560 --> 00:19:26,639
Speaker 1: Mango is another one which gets less nasty and messy,

435
00:19:26,680 --> 00:19:30,040
Speaker 1: and even almonds aren't too bad. So I'll use as

436
00:19:30,040 --> 00:19:32,359
Speaker 1: a bag three or four times, Mango bags six or

437
00:19:32,400 --> 00:19:33,040
Speaker 1: seven maybe.

438
00:19:33,119 --> 00:19:35,960
Speaker 2: Oh well, yeah, I completely agree, as opposed to like say,

439
00:19:36,080 --> 00:19:38,720
Speaker 2: bring some fried chicken and it's not freasy, and they're

440
00:19:38,960 --> 00:19:42,160
Speaker 2: like that's gross. Yeah, Like, yeah, don't use that. I'm

441
00:19:42,160 --> 00:19:44,399
Speaker 2: not done with that, although I'm curious. Okay, So the

442
00:19:44,440 --> 00:19:47,160
Speaker 2: bag that I think I've used reused the most. In

443
00:19:47,200 --> 00:19:49,840
Speaker 2: my backpack every day when I come to the office

444
00:19:49,840 --> 00:19:53,119
Speaker 2: with my lunch, I put my banana in a special

445
00:19:53,160 --> 00:19:55,639
Speaker 2: pouch so the banana doesn't get dented up becaure you

446
00:19:55,680 --> 00:19:59,560
Speaker 2: don't want it next to like the supperware containers, the.

447
00:19:58,920 --> 00:20:03,480
Speaker 1: The hard edges well bananas for some reason, like it'll sticky, well,

448
00:20:03,640 --> 00:20:04,639
Speaker 1: slickiness on the outside.

449
00:20:04,640 --> 00:20:05,320
Speaker 3: I was gonna say, the.

450
00:20:05,560 --> 00:20:07,880
Speaker 1: Flavor profile will seep into other things. If it's close

451
00:20:07,920 --> 00:20:09,640
Speaker 1: to over too long, that's true. I don't mind that though,

452
00:20:09,960 --> 00:20:11,560
Speaker 1: Like everything gets to taste like banana runts.

453
00:20:11,680 --> 00:20:12,359
Speaker 3: Nah, I don't want that.

454
00:20:12,440 --> 00:20:13,679
Speaker 1: The best kind of runt I want to eat. I

455
00:20:13,680 --> 00:20:15,200
Speaker 1: want my banana flavor when I have a bana. I

456
00:20:15,200 --> 00:20:16,879
Speaker 1: don't want it when I eat other stuff. But that

457
00:20:16,960 --> 00:20:19,160
Speaker 1: makes that like I truly think fed chicken that tastes.

458
00:20:19,000 --> 00:20:22,359
Speaker 2: Like banana man, I don't know, sounds prettyummy, okay, my

459
00:20:22,480 --> 00:20:23,240
Speaker 2: banana bags.

460
00:20:23,240 --> 00:20:24,439
Speaker 3: So like I take it and I throw it in.

461
00:20:24,440 --> 00:20:27,080
Speaker 2: There because of the like the stickies, like the sap

462
00:20:27,160 --> 00:20:28,840
Speaker 2: or whatever that comes out of the banana peel. I

463
00:20:28,840 --> 00:20:30,280
Speaker 2: don't want that getting all over the inside. I'm a

464
00:20:30,280 --> 00:20:32,520
Speaker 2: backpack yeah, so that's why I stick it inside the

465
00:20:32,520 --> 00:20:33,800
Speaker 2: bag and then I roll it up and toss it

466
00:20:33,840 --> 00:20:36,919
Speaker 2: in there. But I truly think that I've had that

467
00:20:36,960 --> 00:20:39,320
Speaker 2: bag for like for years, because why would I why

468
00:20:39,320 --> 00:20:41,159
Speaker 2: would I change it out? Because the banana comes in

469
00:20:41,200 --> 00:20:43,680
Speaker 2: its own zip bloc bag. It comes in its peel,

470
00:20:43,720 --> 00:20:45,160
Speaker 2: that's right, and so it's not like.

471
00:20:45,160 --> 00:20:47,840
Speaker 1: Unlike most foods. It has its own its own pouch. Yeah,

472
00:20:47,920 --> 00:20:51,960
Speaker 1: pouch exactly. Well, then I think it's you could highlight

473
00:20:51,960 --> 00:20:55,800
Speaker 1: that there are other options right there, like reusable ziploc bags,

474
00:20:55,840 --> 00:20:58,359
Speaker 1: stasher bags or one of those like this Skilicon bags.

475
00:20:58,640 --> 00:21:00,479
Speaker 1: You and I try to try this. I still use

476
00:21:00,520 --> 00:21:03,199
Speaker 1: them sometimes, especially like kind of a pain in the

477
00:21:03,200 --> 00:21:05,320
Speaker 1: butt if we make kids, the kids paying you need

478
00:21:05,359 --> 00:21:05,920
Speaker 1: to wash out?

479
00:21:06,200 --> 00:21:07,240
Speaker 3: Yeah, yeah, they can be.

480
00:21:07,200 --> 00:21:10,359
Speaker 2: Well that's that's the thing, because some containers like tupperware

481
00:21:10,359 --> 00:21:12,199
Speaker 2: are eat super easy because I can throw them in

482
00:21:12,240 --> 00:21:14,240
Speaker 2: the dishwasher. Yeah, flip them over and they're going to

483
00:21:14,400 --> 00:21:17,959
Speaker 2: get clean. Whereas those stasher bags they want to close,

484
00:21:18,320 --> 00:21:21,359
Speaker 2: like the their default position is shut. Yeah, and so

485
00:21:21,800 --> 00:21:23,600
Speaker 2: sticking those in the dishwasher to try to get clean.

486
00:21:23,640 --> 00:21:27,280
Speaker 1: Oh you got a hand washer. See that's okay. I'm

487
00:21:27,320 --> 00:21:29,440
Speaker 1: hand washing stuff a lot. Hey, that raises another question.

488
00:21:30,119 --> 00:21:33,440
Speaker 1: Are you hand washing ziploc bags if you're if you're

489
00:21:33,480 --> 00:21:35,000
Speaker 1: if you'ressing it now, I'm tossing it.

490
00:21:35,000 --> 00:21:37,440
Speaker 2: If you're washing a stasher bag, what's the difference? Because

491
00:21:37,480 --> 00:21:39,320
Speaker 2: they hold up better, there's a good there. I'm not

492
00:21:39,320 --> 00:21:40,880
Speaker 2: going to wash the zip lock bag. I'm just because

493
00:21:40,960 --> 00:21:43,840
Speaker 2: and and the if it's currently holding up though, bag

494
00:21:43,880 --> 00:21:46,159
Speaker 2: isn't high enough to get me interested in washing it.

495
00:21:46,160 --> 00:21:48,200
Speaker 2: And how those aren't gonna dry. Where's the Stasher bag?

496
00:21:48,200 --> 00:21:49,960
Speaker 2: You can leave it open and dry it, can you?

497
00:21:50,119 --> 00:21:51,360
Speaker 3: Yeah? Okay, yeah you can't.

498
00:21:51,760 --> 00:21:54,800
Speaker 1: I'm living here living proof that you can. So yeah,

499
00:21:54,840 --> 00:21:56,920
Speaker 1: they have like generic equivalents too, because the Stasher bags

500
00:21:56,920 --> 00:21:59,320
Speaker 1: can be kind of expensive. That's the name brand. Yeah,

501
00:21:59,320 --> 00:22:01,200
Speaker 1: and you have to decide, well, how many uses is

502
00:22:01,240 --> 00:22:03,600
Speaker 1: it going to take to pay off? We have a

503
00:22:03,640 --> 00:22:05,480
Speaker 1: few that we use, and I will say for certain

504
00:22:05,520 --> 00:22:09,199
Speaker 1: things they're helpful. I guess it'd also be better for

505
00:22:09,440 --> 00:22:12,960
Speaker 1: the environment over the long term. But if you're being

506
00:22:12,960 --> 00:22:17,359
Speaker 1: thoughtful about that, reusing plastic, your plastic bags like your ziplocks.

507
00:22:17,600 --> 00:22:20,160
Speaker 2: Yeah, and I guess you're just as easy to wash

508
00:22:20,280 --> 00:22:23,200
Speaker 2: and dry. Not true, Okay, so I was just thinking

509
00:22:23,200 --> 00:22:25,560
Speaker 2: through this. Here is why it is true because when

510
00:22:25,600 --> 00:22:26,879
Speaker 2: you I don't know if you do this, but if

511
00:22:26,920 --> 00:22:29,280
Speaker 2: you take a ziploc bag, and this is helpful a

512
00:22:29,440 --> 00:22:32,000
Speaker 2: when you're loading it, but it also b when you're

513
00:22:32,000 --> 00:22:33,600
Speaker 2: when you're trying to get it to dry, but you

514
00:22:33,680 --> 00:22:34,440
Speaker 2: fold back the.

515
00:22:34,440 --> 00:22:36,320
Speaker 3: Zip, you know what I'm talking about, You cuff it.

516
00:22:36,400 --> 00:22:39,040
Speaker 2: Essentially, it'll not as easy, but then it will stay

517
00:22:39,119 --> 00:22:41,320
Speaker 2: upside down and it will dry out. Whereas again, the

518
00:22:41,320 --> 00:22:44,000
Speaker 2: Stasher bags. They want to shut they they just want

519
00:22:44,040 --> 00:22:46,080
Speaker 2: to stay moist and wet and clammy and.

520
00:22:46,040 --> 00:22:48,440
Speaker 3: Gross man not sue. Not true.

521
00:22:48,680 --> 00:22:50,320
Speaker 2: That being said, I'm not I'm also not out there

522
00:22:50,400 --> 00:22:53,000
Speaker 2: hand washing ziplock bags because I'm just not doing that

523
00:22:53,080 --> 00:22:53,320
Speaker 2: right now.

524
00:22:53,359 --> 00:22:56,359
Speaker 1: Well, and they're so little value, Like I don't know

525
00:22:56,400 --> 00:22:59,080
Speaker 1: what they cost per bag, and that'd be interesting. I

526
00:22:59,080 --> 00:23:00,920
Speaker 1: should run run the math on that. Before we took

527
00:23:00,920 --> 00:23:03,800
Speaker 1: this question. My guess, is there what like eight cents

528
00:23:03,840 --> 00:23:06,720
Speaker 1: a piece, twelve cents apiece something like this that block Yeah, son,

529
00:23:06,760 --> 00:23:08,560
Speaker 1: I feels terrible, but it is nice If I'm like,

530
00:23:08,560 --> 00:23:10,560
Speaker 1: if I can bring that down to three or four

531
00:23:10,600 --> 00:23:16,000
Speaker 1: cents per use, essentially by reusing those for non messy items,

532
00:23:16,040 --> 00:23:17,119
Speaker 1: I'm totally down to do that.

533
00:23:17,200 --> 00:23:17,600
Speaker 3: I get that.

534
00:23:17,720 --> 00:23:19,800
Speaker 1: Part of the reason we like to take frugal cheap

535
00:23:19,880 --> 00:23:22,080
Speaker 1: questions too is because it can be a hang up

536
00:23:22,119 --> 00:23:25,959
Speaker 1: for people who lean overly frugal. Right, they border on

537
00:23:26,080 --> 00:23:28,720
Speaker 1: cheap and they major on minor things, because ultimately, when

538
00:23:28,720 --> 00:23:31,320
Speaker 1: it comes down to your decision on whether or not

539
00:23:31,400 --> 00:23:32,919
Speaker 1: to reuse it block bags, it's not going to make

540
00:23:32,960 --> 00:23:36,760
Speaker 1: a major difference in your wealth building efforts. But some

541
00:23:36,800 --> 00:23:39,200
Speaker 1: people are so concerned with pinching pennies, and they're leading

542
00:23:39,240 --> 00:23:41,680
Speaker 1: big bucks on the table in terms of negotiating their

543
00:23:41,680 --> 00:23:45,240
Speaker 1: pay or investing in their own human capital, and there

544
00:23:45,280 --> 00:23:49,080
Speaker 1: can be this tendency to major on the miners to

545
00:23:49,160 --> 00:23:52,240
Speaker 1: think in like have just short sighted thinking in the

546
00:23:52,240 --> 00:23:56,000
Speaker 1: personal finance space. But in retort to what I just

547
00:23:56,040 --> 00:23:58,480
Speaker 1: said as well, Matt, I've also just begun to think

548
00:23:58,760 --> 00:24:01,720
Speaker 1: that my frugal choice is they're not just about how

549
00:24:01,800 --> 00:24:04,320
Speaker 1: large my net worth is and how big it can grow.

550
00:24:05,000 --> 00:24:07,160
Speaker 1: I don't want a bran new car because I don't

551
00:24:07,280 --> 00:24:09,560
Speaker 1: value it, even if my bank account says I can

552
00:24:09,600 --> 00:24:12,000
Speaker 1: afford it, even if my bank account says I can

553
00:24:12,040 --> 00:24:14,240
Speaker 1: afford unlimited zip block bags and I don't have to

554
00:24:14,240 --> 00:24:18,040
Speaker 1: reuse them. There's something I value about being able to

555
00:24:18,040 --> 00:24:21,000
Speaker 1: reuse things and not flippantly throw away money.

556
00:24:21,040 --> 00:24:21,560
Speaker 3: And I get that.

557
00:24:21,600 --> 00:24:23,080
Speaker 1: I think there's a I don't know if it's a

558
00:24:23,119 --> 00:24:25,879
Speaker 1: gamification aspect, but I guess it can be. To me

559
00:24:25,960 --> 00:24:28,920
Speaker 1: at times is yeah, do I have to upgrade that thing?

560
00:24:29,560 --> 00:24:30,520
Speaker 1: If not, I don't want to.

561
00:24:30,760 --> 00:24:32,960
Speaker 2: Sure, Yeah, yeah, so Ian, I would say, no matter

562
00:24:32,960 --> 00:24:35,840
Speaker 2: how big your net worth gets, like, don't be so

563
00:24:36,080 --> 00:24:39,400
Speaker 2: cheap as to not reconsider your spending habits from time

564
00:24:39,400 --> 00:24:42,480
Speaker 2: to time in order to maximize the value of the

565
00:24:42,520 --> 00:24:45,359
Speaker 2: dollars that you've a masked, but also don't become so

566
00:24:45,400 --> 00:24:48,800
Speaker 2: flippant that you completely disregard these small ways to make

567
00:24:49,160 --> 00:24:51,960
Speaker 2: or to save money that matter more than just the

568
00:24:51,960 --> 00:24:54,520
Speaker 2: actual dollars or the pennies that you might be clowing back, right,

569
00:24:54,560 --> 00:24:56,879
Speaker 2: Because intelligent use of money, it's not just about your

570
00:24:56,920 --> 00:25:01,280
Speaker 2: overall optimization levels. I think there's a per satisfaction and

571
00:25:01,400 --> 00:25:03,960
Speaker 2: like a fulfillment side of things too, where you get

572
00:25:04,000 --> 00:25:07,359
Speaker 2: to live your life according to your specific values and

573
00:25:07,400 --> 00:25:10,479
Speaker 2: so like, just because you can spend money in a

574
00:25:10,560 --> 00:25:14,119
Speaker 2: more absurd way doesn't mean that you should. Like, there

575
00:25:14,200 --> 00:25:17,680
Speaker 2: is something intrinsically rewarding to live your life intentionally, to

576
00:25:18,359 --> 00:25:21,639
Speaker 2: live a well considered life, and even when like the

577
00:25:22,160 --> 00:25:26,040
Speaker 2: eventual outcome might be similar to where you would have

578
00:25:26,119 --> 00:25:28,199
Speaker 2: ended up had you not thought about it. Right, Like,

579
00:25:28,240 --> 00:25:31,840
Speaker 2: on the surface, you might have two people and oh

580
00:25:32,000 --> 00:25:34,919
Speaker 2: they look really similar or some of the purchases that

581
00:25:34,960 --> 00:25:37,600
Speaker 2: they make, But I think how it is that they

582
00:25:37,760 --> 00:25:42,280
Speaker 2: arrive to that point has all the difference in their

583
00:25:42,359 --> 00:25:45,720
Speaker 2: life fulfillment and satisfaction and something that kind of empowers

584
00:25:45,800 --> 00:25:47,640
Speaker 2: as to why it is that they did the thing

585
00:25:47,680 --> 00:25:48,119
Speaker 2: to begin with.

586
00:25:48,400 --> 00:25:49,040
Speaker 3: Does that make sense?

587
00:25:49,119 --> 00:25:50,959
Speaker 2: Yeah, Like there's more enjoyment that I think you can

588
00:25:50,960 --> 00:25:52,600
Speaker 2: get out of life when you've thought through some of

589
00:25:52,640 --> 00:25:52,919
Speaker 2: these things.

590
00:25:52,960 --> 00:25:54,520
Speaker 1: And I guess when it comes down to it, I

591
00:25:54,560 --> 00:25:58,240
Speaker 1: think of frugality in the proper context as a virtue.

592
00:25:58,640 --> 00:26:00,760
Speaker 1: And when you think of something as a virtue, it

593
00:26:00,800 --> 00:26:02,760
Speaker 1: goes beyond just a way to save a little bit

594
00:26:02,760 --> 00:26:05,480
Speaker 1: of money. It and I don't know, maybe this is

595
00:26:05,800 --> 00:26:07,600
Speaker 1: overstating it, but it does become a part of your

596
00:26:07,640 --> 00:26:10,080
Speaker 1: identity to a certain extent. And I don't want to

597
00:26:10,080 --> 00:26:12,240
Speaker 1: be like the frugal guy right like in like the

598
00:26:12,280 --> 00:26:15,800
Speaker 1: nerdiest way possible. But I do think that like intentional

599
00:26:15,800 --> 00:26:18,879
Speaker 1: frugality in the right places truly does reach that level

600
00:26:19,040 --> 00:26:21,399
Speaker 1: of virtue, at least in my conceptualization of it.

601
00:26:21,720 --> 00:26:23,520
Speaker 2: Totally agree, man, Yes, it's about throwing your weight behind

602
00:26:23,520 --> 00:26:25,480
Speaker 2: the things you truly care about and then like not

603
00:26:25,640 --> 00:26:27,800
Speaker 2: hardly giving any attention to the things that you don't

604
00:26:27,800 --> 00:26:28,240
Speaker 2: care about.

605
00:26:28,480 --> 00:26:29,919
Speaker 3: I'm still not picking up pennies.

606
00:26:29,680 --> 00:26:31,960
Speaker 2: So I well, I'll leave it for my kids. Now

607
00:26:32,000 --> 00:26:33,760
Speaker 2: actually came and we're walking arond the neighborhood. We saw

608
00:26:33,800 --> 00:26:36,600
Speaker 2: a bunch of change and I started kind of going

609
00:26:36,600 --> 00:26:38,400
Speaker 2: for them, and then I was like, actual, Leslie, tell

610
00:26:38,440 --> 00:26:39,920
Speaker 2: the kids about that, and they can come up here

611
00:26:41,119 --> 00:26:42,480
Speaker 2: instead of to head up to the cul de sac.

612
00:26:42,560 --> 00:26:44,240
Speaker 1: Pretty soon, the reason to pick them up is going

613
00:26:44,320 --> 00:26:46,360
Speaker 1: to be because they're a relic from bygone era.

614
00:26:46,640 --> 00:26:47,160
Speaker 3: That's true.

615
00:26:47,480 --> 00:26:49,800
Speaker 1: All right, Let's get to another question, Matt. This one

616
00:26:50,160 --> 00:26:52,520
Speaker 1: is from a listener who has a question about helping

617
00:26:52,520 --> 00:26:53,320
Speaker 1: her parents out.

618
00:26:54,359 --> 00:26:54,520
Speaker 4: Hi.

619
00:26:54,600 --> 00:26:56,439
Speaker 6: My name is Jocelyn, and I'm from the San Francisco

620
00:26:56,520 --> 00:26:59,920
Speaker 6: Bay area. My question is related to my parents' estate plan.

621
00:27:00,760 --> 00:27:03,359
Speaker 6: They have a trust that's at least thirty years old,

622
00:27:03,560 --> 00:27:06,960
Speaker 6: and they own multiple rent properties. It's actually not clear

623
00:27:07,000 --> 00:27:09,560
Speaker 6: to me whether each property has its own trust or

624
00:27:09,560 --> 00:27:12,959
Speaker 6: everything is included under one. But this trust hasn't been

625
00:27:12,960 --> 00:27:15,840
Speaker 6: reviewed in decades, so I'm trying to figure out what's

626
00:27:15,880 --> 00:27:18,880
Speaker 6: the best next step. Should they just get a new

627
00:27:18,960 --> 00:27:22,160
Speaker 6: trust drafted or is it actually a thing to get

628
00:27:22,200 --> 00:27:25,960
Speaker 6: an old trust reviewed and updated. Open to your thoughts

629
00:27:25,960 --> 00:27:28,120
Speaker 6: and thank you for all the help, all.

630
00:27:28,080 --> 00:27:30,119
Speaker 2: Right, Jocelyn, I think this is a really important question.

631
00:27:30,680 --> 00:27:32,720
Speaker 2: Thank you for sending this one our way, because I

632
00:27:32,720 --> 00:27:34,600
Speaker 2: think any way that you can help your parents to

633
00:27:34,640 --> 00:27:38,440
Speaker 2: get things squared away now is going to benefit you

634
00:27:39,000 --> 00:27:41,320
Speaker 2: when your parents pass. And this doesn't even include like

635
00:27:41,359 --> 00:27:43,679
Speaker 2: if you've got siblings as well. This is it's like

636
00:27:43,720 --> 00:27:46,800
Speaker 2: a PSA that you're doing, you know, on their behalf

637
00:27:47,000 --> 00:27:50,160
Speaker 2: as well. And by the way, this we're gonna kind

638
00:27:50,160 --> 00:27:53,439
Speaker 2: of we're gonna wait into more like legal territory, Joel,

639
00:27:53,480 --> 00:27:55,480
Speaker 2: You and I we are not lawyers, We are not

640
00:27:55,680 --> 00:27:56,960
Speaker 2: estate planning attorneys.

641
00:27:56,960 --> 00:27:58,800
Speaker 1: And I didn't even sleep at a holiday and last.

642
00:27:58,640 --> 00:28:01,000
Speaker 2: Night, Jocelyn reach out to us, and we're going to

643
00:28:01,040 --> 00:28:03,240
Speaker 2: do our best to help inform you a little bit

644
00:28:03,240 --> 00:28:05,760
Speaker 2: and to at least give you our thoughts on estate

645
00:28:05,760 --> 00:28:08,200
Speaker 2: planning from more of a personal finance standpoint.

646
00:28:08,280 --> 00:28:10,400
Speaker 1: And usually kind of like what you're alluding to, Matt,

647
00:28:10,480 --> 00:28:15,320
Speaker 1: is people they don't address some of these issues until

648
00:28:15,640 --> 00:28:20,159
Speaker 1: it's pastime, and that can create significant issues. Something that

649
00:28:20,160 --> 00:28:22,000
Speaker 1: can be like a small task on the front end

650
00:28:22,320 --> 00:28:25,479
Speaker 1: can be an enormous burden for family members left behind

651
00:28:25,640 --> 00:28:30,200
Speaker 1: if not addressed properly right. So I've seen this recently

652
00:28:30,240 --> 00:28:32,600
Speaker 1: where like just something as simple as not changing and

653
00:28:32,680 --> 00:28:36,680
Speaker 1: beneficiary right can have cascading impacts on the family that's

654
00:28:36,720 --> 00:28:41,240
Speaker 1: left behind and grieving, and so it's really important to

655
00:28:41,280 --> 00:28:43,320
Speaker 1: think about the stuff on the front end. Joshlyn is

656
00:28:43,880 --> 00:28:45,360
Speaker 1: a wise daughter to be doing.

657
00:28:45,400 --> 00:28:45,560
Speaker 3: That.

658
00:28:46,480 --> 00:28:48,080
Speaker 1: Just doesn't sound like you want to get all up

659
00:28:48,080 --> 00:28:50,320
Speaker 1: in your parents' business just for the sake of it, right,

660
00:28:50,760 --> 00:28:52,160
Speaker 1: It sounds like you just want to make sure that

661
00:28:52,200 --> 00:28:54,640
Speaker 1: they have their ducks in a row. My guess is

662
00:28:54,640 --> 00:28:58,280
Speaker 1: that those rental properties are in a single revocable living

663
00:28:58,320 --> 00:29:01,880
Speaker 1: trust because each property can still have its own LLC

664
00:29:02,520 --> 00:29:06,920
Speaker 1: designation if that's the case, which provides legal protection for

665
00:29:07,080 --> 00:29:10,640
Speaker 1: each of those rental properties for your parents, while still

666
00:29:10,720 --> 00:29:13,280
Speaker 1: ensuring that they didn't have to create a rat's nest

667
00:29:13,600 --> 00:29:16,760
Speaker 1: of trust. And so it's likely what they did when

668
00:29:16,800 --> 00:29:19,960
Speaker 1: they created this many decades ago. But I guess you'll

669
00:29:20,120 --> 00:29:22,080
Speaker 1: find that out in this process.

670
00:29:22,360 --> 00:29:25,720
Speaker 3: That's right, But Joss, multiple decades, Holy cow, I think

671
00:29:25,760 --> 00:29:26,840
Speaker 3: you said thirty years.

672
00:29:27,160 --> 00:29:29,920
Speaker 2: It's definitely time to review this trust because a lot,

673
00:29:30,680 --> 00:29:32,920
Speaker 2: a lot could certainly have happened over these years, right,

674
00:29:33,000 --> 00:29:35,240
Speaker 2: Like we're maybe talking to new members of the family,

675
00:29:35,320 --> 00:29:38,680
Speaker 2: maybe new assets, a different split as to what assets

676
00:29:38,720 --> 00:29:42,160
Speaker 2: are going to go to which person. But whether your

677
00:29:42,160 --> 00:29:45,480
Speaker 2: folks end up simply updating so that's the term that

678
00:29:45,520 --> 00:29:49,080
Speaker 2: you used. Whether they do that, whether they update the

679
00:29:49,120 --> 00:29:51,960
Speaker 2: trust as opposed to scrapping it all together and starting fresh,

680
00:29:52,440 --> 00:29:54,920
Speaker 2: it depends on the scope of the changes that they

681
00:29:54,920 --> 00:29:58,000
Speaker 2: are looking to make. And by the way, updating the

682
00:29:58,040 --> 00:30:01,640
Speaker 2: trust is actually called amending the trust, so like not

683
00:30:01,720 --> 00:30:03,280
Speaker 2: unlike the amendments to our constitution.

684
00:30:03,360 --> 00:30:05,000
Speaker 3: Oh, do you have a favorite amendment, Matt, that you

685
00:30:05,040 --> 00:30:05,680
Speaker 3: want to share with us?

686
00:30:05,720 --> 00:30:05,880
Speaker 6: Now?

687
00:30:06,920 --> 00:30:12,160
Speaker 3: Which one? Which one repealed the Oh? Yeah, the undoing

688
00:30:12,120 --> 00:30:14,240
Speaker 3: your prohibition? Yes, exactly, that's one of.

689
00:30:14,240 --> 00:30:18,240
Speaker 2: My But if they are one, so that's an amendment.

690
00:30:18,480 --> 00:30:20,880
Speaker 2: But if your folks are wanting to make a fairly

691
00:30:20,960 --> 00:30:24,440
Speaker 2: straightforward change to their trust, like the ones I just mentioned,

692
00:30:24,560 --> 00:30:28,320
Speaker 2: then an amendment should totally suffice. So, for instance, adding

693
00:30:28,320 --> 00:30:31,719
Speaker 2: a new beneficiary like that is something that can totally

694
00:30:31,720 --> 00:30:33,920
Speaker 2: be accomplished via an amendment.

695
00:30:34,080 --> 00:30:34,680
Speaker 3: True story.

696
00:30:34,960 --> 00:30:37,480
Speaker 1: On the other hand, if you're going to make significant

697
00:30:37,600 --> 00:30:40,520
Speaker 1: changes to the trust, and over the years the trust

698
00:30:40,760 --> 00:30:44,400
Speaker 1: has multiple amendments, well, which it doesn't sound like that's

699
00:30:44,480 --> 00:30:47,280
Speaker 1: been the case, Matp, because they haven't touched it so right,

700
00:30:47,600 --> 00:30:49,560
Speaker 1: it's been sitting and gathering dust. Yeah, but that would

701
00:30:49,560 --> 00:30:52,760
Speaker 1: be when restating the trust could likely make more sense, right,

702
00:30:52,760 --> 00:30:55,960
Speaker 1: because if not done well, all the new amendments could

703
00:30:56,000 --> 00:30:59,200
Speaker 1: conflict with each other, making it difficult to understand what's

704
00:30:59,240 --> 00:31:01,840
Speaker 1: going on and what your parents' actual wishes were. So

705
00:31:01,880 --> 00:31:04,560
Speaker 1: it could create some vagueness in the trust that you

706
00:31:04,600 --> 00:31:05,520
Speaker 1: don't want to exist.

707
00:31:05,640 --> 00:31:09,000
Speaker 2: Yeah, alluding to more of the rats nest scenarios that

708
00:31:09,040 --> 00:31:12,040
Speaker 2: you alled to earlier, That's totally what happens when you

709
00:31:12,160 --> 00:31:15,240
Speaker 2: keep on like bolting on these new fixtures to.

710
00:31:15,160 --> 00:31:18,880
Speaker 1: This which amendments supersedes which one? And what was the

711
00:31:18,880 --> 00:31:20,680
Speaker 1: original intent of the framers of this trust.

712
00:31:20,680 --> 00:31:23,160
Speaker 2: I almost almost picture like a like a eighty eight

713
00:31:23,200 --> 00:31:25,400
Speaker 2: Camaro or something like that, and like over the years

714
00:31:25,480 --> 00:31:28,400
Speaker 2: it's got new owners and like everyone keeps adding things on.

715
00:31:28,520 --> 00:31:31,000
Speaker 2: It's like, oh the spoiler and not the spoiler pipes

716
00:31:31,000 --> 00:31:32,880
Speaker 2: out the side. Oh I'm gonna put this on the engine.

717
00:31:33,120 --> 00:31:36,360
Speaker 2: And man, after twenty thirty years, you start looking at

718
00:31:36,400 --> 00:31:37,960
Speaker 2: this thing and you're like, does this thing even run?

719
00:31:38,160 --> 00:31:39,080
Speaker 3: Is it even possible?

720
00:31:39,200 --> 00:31:41,600
Speaker 1: In high school, it wasn't Camaros, it was Honda Civics.

721
00:31:42,200 --> 00:31:45,440
Speaker 1: That's what people used to mess with those and add

722
00:31:45,440 --> 00:31:46,200
Speaker 1: on all sorts of stuff.

723
00:31:46,200 --> 00:31:48,560
Speaker 3: A Honda says at least they get good gas myledge.

724
00:31:48,400 --> 00:31:49,840
Speaker 1: But then you couldn't even tell that were Honda civics

725
00:31:49,840 --> 00:31:50,880
Speaker 1: at the end of the day. So I think that's

726
00:31:50,920 --> 00:31:53,560
Speaker 1: kind of your point. There's also the issue of privacy,

727
00:31:53,840 --> 00:31:57,120
Speaker 1: right that's lost when you make amendments because as beneficiaries,

728
00:31:57,160 --> 00:31:59,960
Speaker 1: they can see the history of the amendments, which could

729
00:32:00,080 --> 00:32:02,800
Speaker 1: lead to some dramas and potentially hurt feelings exactly. But

730
00:32:02,840 --> 00:32:05,520
Speaker 1: I think it's worth considering an amendment since those are

731
00:32:05,560 --> 00:32:08,120
Speaker 1: generally more affordable and easier to pull off than doing

732
00:32:08,160 --> 00:32:11,640
Speaker 1: a complete reinstatement of the trust or restatement of the trust.

733
00:32:11,720 --> 00:32:11,920
Speaker 3: Yeah.

734
00:32:11,960 --> 00:32:14,120
Speaker 2: Yeah, Restating the trust is sort of like if you

735
00:32:14,120 --> 00:32:16,000
Speaker 2: strip the command or the hunt a sieve down to

736
00:32:16,080 --> 00:32:19,680
Speaker 2: its frame and like completely rebuild the thing from scratch,

737
00:32:19,760 --> 00:32:22,760
Speaker 2: as opposed to just like slapping slapping on a new accessory.

738
00:32:23,000 --> 00:32:25,560
Speaker 2: But Jocelyn, again, this isn't something that we're experts on,

739
00:32:25,920 --> 00:32:28,200
Speaker 2: and so we would highly recommend reaching out to an

740
00:32:28,280 --> 00:32:32,200
Speaker 2: estate planning attorney with your folks. And this is actually

741
00:32:32,240 --> 00:32:34,120
Speaker 2: assuming too that your folks are. You said that you

742
00:32:34,160 --> 00:32:36,360
Speaker 2: are there in the Bay Area. This is assuming that

743
00:32:36,400 --> 00:32:37,920
Speaker 2: your folks are as well. But you want to reach

744
00:32:37,920 --> 00:32:41,640
Speaker 2: out to in a state planning attorney wherever, in whatever

745
00:32:41,680 --> 00:32:44,200
Speaker 2: state that your folks live in. And I just think

746
00:32:44,200 --> 00:32:45,800
Speaker 2: this is a great way for you to proactively get

747
00:32:45,800 --> 00:32:48,160
Speaker 2: the ball rolling or having these conversations with your parents.

748
00:32:48,680 --> 00:32:50,080
Speaker 2: And it's just going to be a better way to

749
00:32:50,160 --> 00:32:53,080
Speaker 2: understand what it is that your parents, what they've got

750
00:32:53,120 --> 00:32:55,600
Speaker 2: going on, and ultimately what their wishes are. Like that's

751
00:32:55,640 --> 00:32:57,440
Speaker 2: the whole point of the trust as well, for them

752
00:32:57,480 --> 00:33:00,720
Speaker 2: to be able to direct their resources, their assets that

753
00:33:00,720 --> 00:33:03,200
Speaker 2: they've worked hard and accumulated over the years, that they're

754
00:33:03,200 --> 00:33:05,680
Speaker 2: going to the right people and in the right directions

755
00:33:05,680 --> 00:33:06,160
Speaker 2: that they wanted to.

756
00:33:06,280 --> 00:33:08,840
Speaker 1: And this should not be an expensive endeavor. I mean,

757
00:33:08,840 --> 00:33:12,960
Speaker 1: we're talking three figures, not even four figures in all likelihood.

758
00:33:12,960 --> 00:33:14,520
Speaker 1: I mean, depending maybe low four figures.

759
00:33:14,640 --> 00:33:17,960
Speaker 2: Restatement could cost a lot, depending on the complexity involves.

760
00:33:18,000 --> 00:33:20,920
Speaker 2: But an amendment isn't something. And again the fact that

761
00:33:20,960 --> 00:33:23,280
Speaker 2: it hasn't been touched, I feel like and if there

762
00:33:23,280 --> 00:33:25,720
Speaker 2: aren't actually any major changes, it seems like an amendment

763
00:33:25,720 --> 00:33:28,520
Speaker 2: that addresses some of these issues might be all she needs.

764
00:33:28,600 --> 00:33:30,560
Speaker 1: Yeah, it might be a simple fix, all right, man,

765
00:33:30,600 --> 00:33:32,320
Speaker 1: We've got more to get to, more questions to get

766
00:33:32,320 --> 00:33:36,160
Speaker 1: to from listeners, including one about like pest control and

767
00:33:36,200 --> 00:33:38,960
Speaker 1: the game kind of expensive? Is that something I should ditch?

768
00:33:39,200 --> 00:33:40,560
Speaker 1: We'll get through that and more right after this.

769
00:33:48,640 --> 00:33:50,640
Speaker 2: All right, buddy, we are back from the break and

770
00:33:50,720 --> 00:33:53,240
Speaker 2: it is now tigned for the Facebook Question of the Week,

771
00:33:53,280 --> 00:33:58,200
Speaker 2: which is from Susan and she wrote, I have savings

772
00:33:58,360 --> 00:34:01,560
Speaker 2: languishing away in a low interest money market at my bank.

773
00:34:01,760 --> 00:34:04,000
Speaker 2: I've been thinking of putting it into a high yield

774
00:34:04,040 --> 00:34:07,680
Speaker 2: savings account. I already have an AMEX high old savings

775
00:34:07,720 --> 00:34:10,080
Speaker 2: set up with about twenty thousand dollars in it. But

776
00:34:10,160 --> 00:34:12,879
Speaker 2: the interest rate has gone down multiple times in two

777
00:34:12,920 --> 00:34:16,080
Speaker 2: years and has never gone up. Is that the case

778
00:34:16,160 --> 00:34:21,040
Speaker 2: with all high yield savings accounts? Yeah, yep, Yeah, that's

779
00:34:21,040 --> 00:34:22,560
Speaker 2: pretty much that's what we've been seeing.

780
00:34:22,760 --> 00:34:24,960
Speaker 1: So if that's the only question, let's move on now.

781
00:34:25,000 --> 00:34:28,839
Speaker 1: I mean, truly, every high yield savings account has seen

782
00:34:28,960 --> 00:34:31,680
Speaker 1: rates drop, and there's really no exception to this rule

783
00:34:31,719 --> 00:34:34,719
Speaker 1: that I'm aware of. And uh, well, except for maybe

784
00:34:34,719 --> 00:34:38,160
Speaker 1: one matt one savings rate that I can say, rates

785
00:34:38,200 --> 00:34:41,600
Speaker 1: have not gone down at all. They've not gone southward,

786
00:34:42,000 --> 00:34:45,560
Speaker 1: and that is only with the giant banks. They haven't

787
00:34:45,600 --> 00:34:48,520
Speaker 1: changed their saving rates not one bit. Isn't that impressive? Yeah,

788
00:34:48,520 --> 00:34:51,000
Speaker 1: there's nowhere but up when you are at point zero

789
00:34:51,000 --> 00:34:54,880
Speaker 1: one percent. Yeah, so avoid those dummies, the giant banks,

790
00:34:54,880 --> 00:34:57,160
Speaker 1: because yeah, they don't change their savings rates, but that

791
00:34:57,200 --> 00:34:59,799
Speaker 1: means they never move them upwards. So I guess just

792
00:35:00,160 --> 00:35:04,359
Speaker 1: by staying the same, they're starting to look slightly more

793
00:35:04,400 --> 00:35:07,759
Speaker 1: competitive with true high healed savings accounts. But yeah, I

794
00:35:07,800 --> 00:35:12,640
Speaker 1: mean because of the downward movement in rates, yeah, the

795
00:35:12,719 --> 00:35:15,799
Speaker 1: head man, Yeah, they lowering those rates. That impacts a

796
00:35:15,800 --> 00:35:18,520
Speaker 1: bunch of different sectors of the economy. But the saddest

797
00:35:18,560 --> 00:35:20,920
Speaker 1: part for me, I really hate to see, like we

798
00:35:21,000 --> 00:35:24,480
Speaker 1: went through this era of sabers making essentially nothing, and

799
00:35:25,080 --> 00:35:27,120
Speaker 1: I just hate to see sabers getting crushed. And so

800
00:35:27,200 --> 00:35:29,600
Speaker 1: rates are still obviously higher than they were six or

801
00:35:29,600 --> 00:35:31,920
Speaker 1: seven years ago, but yeah, to see them go back

802
00:35:31,960 --> 00:35:33,239
Speaker 1: down kind of brings a tear to my eye.

803
00:35:33,280 --> 00:35:35,960
Speaker 2: Yeah, the past three or four years were nice if

804
00:35:36,000 --> 00:35:38,160
Speaker 2: you were sitting on a good amount of cash. But

805
00:35:38,320 --> 00:35:41,919
Speaker 2: as the FED has lowered rates, I mean savings rates,

806
00:35:41,920 --> 00:35:45,040
Speaker 2: that's one of the most immediate responses that you like

807
00:35:45,360 --> 00:35:48,960
Speaker 2: you hear from your bank. Basically within hours of the

808
00:35:49,000 --> 00:35:52,839
Speaker 2: FED announcing a rate cut. Yeah, you're just like anticipating

809
00:35:52,840 --> 00:35:56,719
Speaker 2: that email. It's there, and yeah, but I will say

810
00:35:56,719 --> 00:35:59,600
Speaker 2: AMX's rates are actually they're pretty solid. They are totally

811
00:35:59,680 --> 00:36:03,120
Speaker 2: in the bresh lone of online savings accounts, and so

812
00:36:03,200 --> 00:36:05,279
Speaker 2: if you're happy with the product and you're happy with

813
00:36:05,320 --> 00:36:07,719
Speaker 2: the customer service, I would totally just stick with them. Like,

814
00:36:07,840 --> 00:36:11,920
Speaker 2: you can always find a slightly higher rate. C for instance,

815
00:36:11,920 --> 00:36:14,759
Speaker 2: has a slightly higher rate than what it is that

816
00:36:14,840 --> 00:36:17,239
Speaker 2: amex is offering. I think MX is around three and

817
00:36:17,280 --> 00:36:20,400
Speaker 2: a half percent. But it's often not worth the headache

818
00:36:20,480 --> 00:36:23,080
Speaker 2: of switching banks unless Yeah, I mean if you got

819
00:36:23,120 --> 00:36:25,200
Speaker 2: a ton of money, like I mean, if you know,

820
00:36:25,200 --> 00:36:27,600
Speaker 2: I don't know, if you go from twenty to sixty

821
00:36:27,760 --> 00:36:31,719
Speaker 2: to seventy thousand, I might say, yeah, I might try

822
00:36:31,760 --> 00:36:34,000
Speaker 2: to grab that extra point two five percent, because that

823
00:36:34,239 --> 00:36:35,040
Speaker 2: does add up over time.

824
00:36:35,040 --> 00:36:37,399
Speaker 1: Even with twenty grand, it's totally worth going from big

825
00:36:37,440 --> 00:36:40,680
Speaker 1: bank to one of our favorite online savings.

826
00:36:40,239 --> 00:36:43,320
Speaker 3: Into the accounts in the threes. Yeah, that jump is

827
00:36:43,320 --> 00:36:43,600
Speaker 3: worth it.

828
00:36:43,640 --> 00:36:45,000
Speaker 1: But trying to go from like three and a half

829
00:36:45,000 --> 00:36:47,759
Speaker 1: to three point nine or something like that, I just

830
00:36:47,880 --> 00:36:50,880
Speaker 1: I don't think it's worth the hassle for most people.

831
00:36:50,920 --> 00:36:54,560
Speaker 1: But yes, Susan savings rates are going down. Your your

832
00:36:54,560 --> 00:36:57,880
Speaker 1: bank is not treating you unfairly. It is just what's

833
00:36:57,880 --> 00:37:00,879
Speaker 1: happening in the market right now. Let's get to another question.

834
00:37:00,960 --> 00:37:03,320
Speaker 1: This one comes from Katie. She says thoughts on termite

835
00:37:03,320 --> 00:37:06,080
Speaker 1: treatment warranties and other options. When I bought my home

836
00:37:06,120 --> 00:37:09,520
Speaker 1: in twenty seventeen, I inherited a termite policy. My house

837
00:37:09,600 --> 00:37:12,560
Speaker 1: was treated during construction with a trench and barrier system

838
00:37:12,560 --> 00:37:14,880
Speaker 1: that has reapplied every ten years. It was done at

839
00:37:14,960 --> 00:37:17,440
Speaker 1: time of construction twenty four again in twenty fifteen, and

840
00:37:17,560 --> 00:37:19,720
Speaker 1: is due again this year. I've never had any problems

841
00:37:19,719 --> 00:37:22,080
Speaker 1: with termites, so my house was inspected last year with

842
00:37:22,120 --> 00:37:25,680
Speaker 1: no issues. My home is in Florida with frame construction

843
00:37:26,000 --> 00:37:28,960
Speaker 1: and hardyboard siding. Since I bought the home, the cost

844
00:37:29,000 --> 00:37:31,040
Speaker 1: of renewal has gone up every year. Started around one

845
00:37:31,120 --> 00:37:33,359
Speaker 1: hundred and fifty bucks, but it's ballooned to almost five

846
00:37:33,480 --> 00:37:36,040
Speaker 1: hundred bucks a year. The company that originally sold the

847
00:37:36,080 --> 00:37:39,759
Speaker 1: contract was a large regional provider that has since been

848
00:37:39,760 --> 00:37:43,120
Speaker 1: bought by a bigger company. I'm considered a legacy customer

849
00:37:43,160 --> 00:37:45,600
Speaker 1: because my policy, and this is a long question by

850
00:37:45,640 --> 00:37:47,600
Speaker 1: the way, which includes cost of any repair is not

851
00:37:47,600 --> 00:37:49,640
Speaker 1: just treatment is no longer offered. As long as I

852
00:37:49,719 --> 00:37:52,560
Speaker 1: maintained the policy, I'm covered, But once it's canceled, I can't.

853
00:37:52,280 --> 00:37:52,839
Speaker 3: Get it back.

854
00:37:53,080 --> 00:37:56,000
Speaker 1: I'm pining the renewal this year because it's a retreatment

855
00:37:56,080 --> 00:37:58,680
Speaker 1: year and that's already included. But with the price continuing

856
00:37:58,680 --> 00:38:01,640
Speaker 1: to rise, I'm wondering whether it's worth the cost going forward.

857
00:38:01,800 --> 00:38:03,879
Speaker 1: I have a good emergency fund. Should I just self

858
00:38:03,960 --> 00:38:07,080
Speaker 1: ensure or are there other options I should be looking at?

859
00:38:07,320 --> 00:38:09,880
Speaker 2: Well, first off, I think what she said about it's

860
00:38:09,880 --> 00:38:12,080
Speaker 2: a retreatment year, so yeah, that would be I think

861
00:38:12,120 --> 00:38:14,839
Speaker 2: it would be unwise to stop paying right now, like

862
00:38:15,520 --> 00:38:17,160
Speaker 2: you've been paying into this thing, go ahead and get

863
00:38:17,160 --> 00:38:21,680
Speaker 2: that last treatment. But I would totally consider not paying

864
00:38:21,719 --> 00:38:23,600
Speaker 2: the next year. Yeah, not renewing that thing.

865
00:38:23,800 --> 00:38:24,359
Speaker 3: This is Joel.

866
00:38:24,400 --> 00:38:26,360
Speaker 2: This is like an industry that I feel is more

867
00:38:27,239 --> 00:38:29,440
Speaker 2: clouded with fear a little bit right Like, it feels

868
00:38:29,480 --> 00:38:31,719
Speaker 2: like such a she said she's a legacy customer. I

869
00:38:31,719 --> 00:38:34,960
Speaker 2: feel like all like pest control generally speaking, feels somewhat

870
00:38:34,960 --> 00:38:39,040
Speaker 2: like a legacy industry where for a while there when

871
00:38:39,080 --> 00:38:42,320
Speaker 2: people weren't treating their homes at all and we didn't

872
00:38:42,600 --> 00:38:44,680
Speaker 2: Folks didn't know better, and there's like a lot of

873
00:38:44,680 --> 00:38:47,920
Speaker 2: brush up against their house and houses were getting termine damage.

874
00:38:47,960 --> 00:38:50,920
Speaker 2: And yeah, across the country, we needed to make a

875
00:38:50,960 --> 00:38:52,760
Speaker 2: whole lot of changes. But I feel like we've wised

876
00:38:52,840 --> 00:38:54,719
Speaker 2: up right, and I think there's a whole lot of

877
00:38:54,719 --> 00:38:57,160
Speaker 2: common sense that we can put to use and say,

878
00:38:57,600 --> 00:39:00,000
Speaker 2: maybe you shouldn't put all that firewood up against your house,

879
00:39:00,600 --> 00:39:03,120
Speaker 2: like there are some things like that, it's a pretty.

880
00:39:02,840 --> 00:39:06,359
Speaker 3: Ground for insects that you don't want in your.

881
00:39:06,239 --> 00:39:08,640
Speaker 2: House absolutely, And so I think thinking through that, I

882
00:39:08,640 --> 00:39:11,040
Speaker 2: think think thinking through whether or not you are in

883
00:39:11,840 --> 00:39:14,680
Speaker 2: a more rural, wooded area, I'm going to be more

884
00:39:14,760 --> 00:39:17,839
Speaker 2: likely to say to to say yes to maintaining that

885
00:39:18,320 --> 00:39:21,680
Speaker 2: pest control versus a mo urban environment where there's hardly

886
00:39:21,719 --> 00:39:25,400
Speaker 2: any trees around and it's mostly concrete or think. And

887
00:39:25,440 --> 00:39:27,719
Speaker 2: she mentioned how her home is constructed. It makes me

888
00:39:27,719 --> 00:39:29,600
Speaker 2: think about your old house that was like literally made

889
00:39:29,600 --> 00:39:32,680
Speaker 2: of concrete, like the outside there was no intermites.

890
00:39:33,040 --> 00:39:35,840
Speaker 3: They couldn't they couldn't. And so I think this.

891
00:39:35,800 --> 00:39:38,440
Speaker 1: Is like your neighbors both have term do they have

892
00:39:38,520 --> 00:39:41,040
Speaker 1: termite treatments going on? And that's kind of insulating you

893
00:39:41,080 --> 00:39:41,680
Speaker 1: to a certain extent.

894
00:39:42,360 --> 00:39:43,160
Speaker 3: Yeah, it's true.

895
00:39:43,280 --> 00:39:45,080
Speaker 2: Yes, I think these are just may be going on

896
00:39:45,120 --> 00:39:49,360
Speaker 2: their door ask They're just all considerations. It's not this

897
00:39:49,680 --> 00:39:52,960
Speaker 2: like world ending thing. Termites are bugs and you don't

898
00:39:53,000 --> 00:39:54,440
Speaker 2: want them for sure, and they can cause a lot

899
00:39:54,480 --> 00:39:57,200
Speaker 2: of damage. But I think by implementing some common sense,

900
00:39:57,600 --> 00:39:59,520
Speaker 2: I think that can help you to decide whether or

901
00:39:59,560 --> 00:40:01,520
Speaker 2: not this is thing that you want to keep up yourself,

902
00:40:01,520 --> 00:40:03,600
Speaker 2: whether you want to cancel all together or just continue

903
00:40:03,600 --> 00:40:03,879
Speaker 2: to pay.

904
00:40:04,000 --> 00:40:06,120
Speaker 1: I mean, it's kind of like I put this in

905
00:40:06,200 --> 00:40:08,359
Speaker 1: the category of you should go to the dentist twice

906
00:40:08,360 --> 00:40:10,759
Speaker 1: a year, and you should get your oil changed every

907
00:40:10,760 --> 00:40:13,880
Speaker 1: three thousand miles. Those are good rules of thumb. But

908
00:40:14,200 --> 00:40:15,880
Speaker 1: it's also true that if you go to the dentist

909
00:40:15,880 --> 00:40:18,040
Speaker 1: once a year and you get your oil changed every

910
00:40:18,040 --> 00:40:20,920
Speaker 1: five thousand miles, you're gonna be okay, you know.

911
00:40:21,040 --> 00:40:23,400
Speaker 3: Especially if you are running on synthetic oil.

912
00:40:23,239 --> 00:40:26,120
Speaker 1: Right exactly so, and I get the five hundred dollars

913
00:40:26,160 --> 00:40:27,440
Speaker 1: a year reacit like, it's like, I don't want to

914
00:40:27,440 --> 00:40:29,520
Speaker 1: spend that much on this. I've got other goals, other

915
00:40:29,560 --> 00:40:31,600
Speaker 1: things I want to do with that money. But I

916
00:40:31,640 --> 00:40:34,480
Speaker 1: think the horror stories about what termites have and can do.

917
00:40:34,520 --> 00:40:37,759
Speaker 1: They often keep people paying the price exactly even if

918
00:40:37,760 --> 00:40:39,800
Speaker 1: they like don't want to, but they're like, gosh, I

919
00:40:39,800 --> 00:40:41,359
Speaker 1: don't feel I'm between a rock and a hard place.

920
00:40:41,360 --> 00:40:44,000
Speaker 1: I don't have another option, but you have to weigh

921
00:40:44,040 --> 00:40:46,840
Speaker 1: the risks and the potential rewards of keeping the coverage

922
00:40:46,920 --> 00:40:49,239
Speaker 1: versus ditching it. And Matt, I don't have one of

923
00:40:49,280 --> 00:40:52,920
Speaker 1: these contracts on my home. But we also regularly DIY

924
00:40:52,960 --> 00:40:56,200
Speaker 1: pest control using a product called Telstar. We have a

925
00:40:56,239 --> 00:40:58,360
Speaker 1: post on how to money dot com about how we

926
00:40:58,520 --> 00:41:02,320
Speaker 1: DII our own pest control. Taustar does not work the

927
00:41:02,360 --> 00:41:05,800
Speaker 1: same way. It does not kill the the termite colony,

928
00:41:06,040 --> 00:41:08,160
Speaker 1: but if you spray it regularly around your house, it

929
00:41:08,200 --> 00:41:12,320
Speaker 1: creates a barrier or like essentially a repellent for those termites.

930
00:41:12,920 --> 00:41:15,720
Speaker 1: But mark your calendar spray the predator of your house regularly,

931
00:41:15,719 --> 00:41:18,919
Speaker 1: which essentially means every three months. And that website where

932
00:41:18,960 --> 00:41:21,399
Speaker 1: we buy Taustar, they also sell the termite based bait

933
00:41:21,440 --> 00:41:23,880
Speaker 1: stations that you can install yourself. The ones that the

934
00:41:23,920 --> 00:41:26,640
Speaker 1: professional pest control companies are using.

935
00:41:26,960 --> 00:41:29,279
Speaker 3: Switch over to the bait stations instead of spraying.

936
00:41:28,960 --> 00:41:31,719
Speaker 1: And this is like that's even more effective then, right,

937
00:41:31,800 --> 00:41:35,200
Speaker 1: So there are I think ways to also say, listen,

938
00:41:35,280 --> 00:41:39,280
Speaker 1: I don't want to like just stop and do nothing

939
00:41:39,719 --> 00:41:43,799
Speaker 1: and see what happens, just roll the dice, but I

940
00:41:43,800 --> 00:41:47,080
Speaker 1: do want to take some preventative measures. But also like,

941
00:41:47,239 --> 00:41:48,640
Speaker 1: do I really need to pay some one five hundred

942
00:41:48,640 --> 00:41:49,960
Speaker 1: bucks a year for that? Probably not?

943
00:41:50,160 --> 00:41:50,920
Speaker 3: Yeah, totally.

944
00:41:51,120 --> 00:41:53,360
Speaker 2: Ultimately, this is something that you can do for a

945
00:41:53,360 --> 00:41:57,080
Speaker 2: lot less money, Katie. But if you were to actually

946
00:41:57,120 --> 00:42:00,479
Speaker 2: have termine activity or god forbid, an actual like full

947
00:42:00,560 --> 00:42:02,879
Speaker 2: on infestation, you would of course be on the hook

948
00:42:02,960 --> 00:42:05,879
Speaker 2: for repairs. And so that's something that you mentioned, Joel,

949
00:42:05,960 --> 00:42:09,120
Speaker 2: that the plan that she has cumber covers repairs, which

950
00:42:09,160 --> 00:42:11,839
Speaker 2: is that I mean, that's pretty great. And also I'm

951
00:42:11,840 --> 00:42:15,000
Speaker 2: gonna know that she mentioned that she's in Florida. Termites

952
00:42:15,040 --> 00:42:17,839
Speaker 2: are much worse in the southeast, and so I would

953
00:42:17,840 --> 00:42:19,960
Speaker 2: factor that in for sure as well. It all comes

954
00:42:19,960 --> 00:42:22,799
Speaker 2: down to risk and whether or not you're willing, whether

955
00:42:22,840 --> 00:42:24,120
Speaker 2: or not you're willing to roll the dice. And actually

956
00:42:24,160 --> 00:42:27,040
Speaker 2: I'm thinking about what you said about reaching out to neighbors,

957
00:42:27,080 --> 00:42:31,200
Speaker 2: because there is a certain element and maybe touch on

958
00:42:31,280 --> 00:42:33,400
Speaker 2: a hot topic, hot button topic, like it makes me

959
00:42:33,440 --> 00:42:35,320
Speaker 2: think of like people who choose to or to not

960
00:42:35,400 --> 00:42:39,440
Speaker 2: get vaccinated. I'm not gonna judge either way. In a

961
00:42:39,440 --> 00:42:42,839
Speaker 2: similar way, there's a herd, there's a level of herd immunity, right,

962
00:42:42,840 --> 00:42:45,759
Speaker 2: And if everyone around you is taking great care of

963
00:42:45,800 --> 00:42:48,520
Speaker 2: their home, and whether it's their spraying themselves or whether

964
00:42:48,520 --> 00:42:51,360
Speaker 2: they've got these great termite bonds, these warranties in place,

965
00:42:52,600 --> 00:42:55,400
Speaker 2: chances are you are going to be much less susceptible

966
00:42:55,600 --> 00:42:58,000
Speaker 2: to having termites. But that being said, if you look

967
00:42:58,040 --> 00:43:01,080
Speaker 2: around and everyone around you is being a bit reckless,

968
00:43:01,239 --> 00:43:04,239
Speaker 2: a bit careless, Like everyone around you is like they're

969
00:43:04,239 --> 00:43:06,719
Speaker 2: stacking all the wood up against their house and you

970
00:43:06,719 --> 00:43:08,920
Speaker 2: live in the middle of the woods, yeah i'd be

971
00:43:09,080 --> 00:43:11,680
Speaker 2: I'd probably sign up for the having someone else take

972
00:43:11,680 --> 00:43:13,759
Speaker 2: care of this, because that's not something I would want

973
00:43:13,760 --> 00:43:14,759
Speaker 2: to I don't want to mess with.

974
00:43:14,840 --> 00:43:17,640
Speaker 1: So not not simple and easy or straightforward, But I

975
00:43:17,640 --> 00:43:20,360
Speaker 1: think there are things you can do to get away

976
00:43:20,400 --> 00:43:24,520
Speaker 1: from this expensive obligation. Diyatt and still feel pretty comfortable

977
00:43:25,600 --> 00:43:28,520
Speaker 1: about your prospects for avoiding termite damage.

978
00:43:28,560 --> 00:43:29,000
Speaker 3: Totally agree.

979
00:43:29,040 --> 00:43:30,239
Speaker 1: All right, let's get back to the beer mat. This

980
00:43:30,280 --> 00:43:32,840
Speaker 1: one was called the Scars on Greedy palms. It was

981
00:43:33,080 --> 00:43:36,279
Speaker 1: an ipa was burial. But also they did this in

982
00:43:36,320 --> 00:43:40,160
Speaker 1: collaboration with Cloudburst Brewing, which is out of Seattle. What

983
00:43:40,200 --> 00:43:40,920
Speaker 1: were your thoughts on this?

984
00:43:41,440 --> 00:43:44,640
Speaker 2: I pa, cloud Burst, that sounds like such an appropriate

985
00:43:44,680 --> 00:43:46,799
Speaker 2: name for a brewery out of Seattle. Get us where

986
00:43:46,840 --> 00:43:51,000
Speaker 2: it rains. This beer was so stinking good man. It

987
00:43:51,080 --> 00:43:53,600
Speaker 2: smelled incredibly dank right when we cracked it and poured it,

988
00:43:54,160 --> 00:43:56,880
Speaker 2: but at the same time it drank so fresh. I

989
00:43:56,880 --> 00:43:58,560
Speaker 2: don't know if I ever had ever had a beer

990
00:43:58,560 --> 00:44:01,200
Speaker 2: that was so dank smelling but then so fresh tasting.

991
00:44:01,520 --> 00:44:05,280
Speaker 2: So it was simultaneously happy, but it was also balanced

992
00:44:05,400 --> 00:44:08,759
Speaker 2: as well. It was bright and light, jewel but at

993
00:44:08,760 --> 00:44:11,400
Speaker 2: the same time was earthy. Somehow this beer packed like

994
00:44:11,480 --> 00:44:14,279
Speaker 2: all the ends, all the spectrums into.

995
00:44:14,160 --> 00:44:17,040
Speaker 3: One singular beer, and I thoroughly enjoyed it. I could.

996
00:44:17,120 --> 00:44:18,640
Speaker 3: I can't so good. I can't say.

997
00:44:18,719 --> 00:44:20,239
Speaker 1: I don't know whether this beer was a kin to

998
00:44:20,280 --> 00:44:23,719
Speaker 1: walking out in like a fifty something degree morning where

999
00:44:23,719 --> 00:44:25,680
Speaker 1: it's like crisp and beautiful and luscious.

1000
00:44:25,880 --> 00:44:28,080
Speaker 2: It's a little chilly, but then the warmth from the

1001
00:44:28,080 --> 00:44:30,799
Speaker 2: sun is warming your face. Somehow got it all?

1002
00:44:30,840 --> 00:44:33,120
Speaker 1: It's yeah, exactly, there's like a mixed thing in there

1003
00:44:33,120 --> 00:44:36,040
Speaker 1: because I'm not cold. I'm so happy, yes, and I

1004
00:44:36,080 --> 00:44:38,799
Speaker 1: feel bright and sunshine and this beer like ran that

1005
00:44:38,840 --> 00:44:42,439
Speaker 1: gamut and so yeah, I really really enjoyed this one,

1006
00:44:42,840 --> 00:44:45,320
Speaker 1: and I yeah, I'll get more if I can because

1007
00:44:45,600 --> 00:44:46,239
Speaker 1: it was that good.

1008
00:44:46,719 --> 00:44:50,480
Speaker 2: Maybe that was because of the Simcoe Dinah boost. I

1009
00:44:50,680 --> 00:44:51,600
Speaker 2: I don't even know what that is.

1010
00:44:51,640 --> 00:44:53,920
Speaker 1: I know, I know, I was like, that sounds like

1011
00:44:53,920 --> 00:44:57,480
Speaker 1: something from the movie Cars that like Queen would put

1012
00:44:57,520 --> 00:44:58,440
Speaker 1: a or something.

1013
00:44:59,560 --> 00:45:01,640
Speaker 3: I love it. But that's gonna be it for this episode.

1014
00:45:01,640 --> 00:45:03,400
Speaker 2: You can find our show notes up on the website

1015
00:45:03,400 --> 00:45:06,319
Speaker 2: at howsomoney dot com. Hey leave us a review if

1016
00:45:06,400 --> 00:45:08,880
Speaker 2: you enjoy this episode and you haven't yet done that

1017
00:45:08,920 --> 00:45:10,640
Speaker 2: for us, and of course you can do that wherever

1018
00:45:10,719 --> 00:45:13,680
Speaker 2: it is that you're currently listening to this episode.

1019
00:45:14,120 --> 00:45:16,080
Speaker 3: Buddy, that's going to be it. So until next time,

1020
00:45:16,200 --> 00:45:18,360
Speaker 3: Best Trinds Out, Best Friends Out,