Ask HTM - Paying for DeleteMe, Investing like the Ivies, and When a New Car Makes Sense #970

Summary

How to Money Podcast Summary: Episode #970 - Paying for DeleteMe, Investing like the Ivies, and When a New Car Makes Sense

Release Date: April 14, 2025 | Host: Joel & Matt | Provided by iHeartPodcasts

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Introduction

In Episode #970 of How to Money, co-hosts Joel and Matt tackle a variety of listener-submitted questions, offering practical advice on topics ranging from online privacy and investment strategies to healthcare emergencies and major purchases. This episode delves deep into each query, providing insightful discussions to help listeners make informed financial decisions.

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1. Investing Like the Ivies

Listener: Brendan from Temple, Texas
Timestamp: [07:58]

Brendan inquires about the Yale Endowment Fund's investment model devised by David Swensen. He wonders if adopting a similar diversified portfolio is worthwhile for individual investors.

Key Points:

• Yale Model Breakdown:

  • 30% U.S. stocks
  • 15% international developed markets
  • 5% emerging markets
  • 20% U.S. real estate
  • 15% U.S. Treasury bonds
  • 15% U.S. Treasury Inflation-Protected Securities (TIPS)

• Performance Analysis:
  The Yale model nearly matched the S&P 500 from 1997 to 2021 but with significantly reduced volatility and drawdowns.

• Diversification Benefits:
  While the model offers stability, Joel and Matt emphasize that individual investors might not achieve the same performance due to differences in scale, expertise, and goals.

• Simplicity vs. Complexity:
  The hosts advocate for simpler investment strategies, such as target date funds or low-cost S&P 500 index funds, which are more accessible and less management-intensive for the average investor.

Notable Quote:
Joel [10:21]: "If you want similar or close returns to the overall market, but you're kind of freaked out by stock market gyrations, greater diversification can make sense."

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2. DeleteMe and Online Privacy

Listener: Kathleen from California
Timestamp: [21:13]

Kathleen seeks advice on whether subscribing to DeleteMe, a service that removes personal information from the internet, is worthwhile.

Key Points:

• Purpose of DeleteMe:
  Helps scrub personal data from various online platforms, enhancing privacy and reducing exposure to identity theft and spam.

• Cost vs. Benefit:
  DeleteMe costs approximately $11 per month. Joel and Matt weigh this against free methods like freezing credit with major bureaus and implementing strong online security measures.

• Alternative Solutions:

  • DIY Approach: Manually contacting websites to remove personal info.
  • Permission Slip by Consumer Reports: A free tool for managing online information.
  • GitHub Resources: Comprehensive guides on which sites to target first for maximum impact.

• Effectiveness and Limitations:
  While DeleteMe can significantly reduce online presence, it doesn't guarantee complete removal. Factors like public records and social engineering can still expose personal information.

Notable Quote:
Matt [25:21]: "DeleteMe is a legit product. And if that's something that... you could be okay with it."

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3. Medevac Insurance for Healthcare

Listener: Beth from Shelbyville, Illinois
Timestamp: [30:26]

Beth and her church group members are contemplating medevac insurance to cover emergency transportation, especially given their rural location far from major hospitals.

Key Points:

• Medicare Coverage:

  • Medicare Part B covers emergency ambulance services when ground transportation poses a health risk and provides coverage for air ambulances if ground transport is insufficient.
  • Coverage is limited to medically necessary nearby facilities. International coverage requires separate insurance.

• Cost Considerations:

  • Includes annual deductibles and a 20% copay of the Medicare-approved amount for medevac services.
  • Secondary insurance options through credit cards (e.g., Chase Sapphire Reserve) offer additional coverage but may have limitations and high annual fees.

• Additional Resources:

  • SHIPhelp.org: Offers state-specific Medicare assistance.
  • Insurance Providers: Platforms like InsureMyTrip and World Nomads for international coverage.

Notable Quote:
Joel [34:16]: "A few mile ambulance ride can cost many hundreds, if not thousands of dollars. And think about how much the helicopter ride would cost."

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4. Retirement Account Rollovers in a Down Market

Listener: Anonymous Facebook Poster
Timestamp: [41:13]

The listener questions whether to rollover retirement accounts during a market downturn, concerned about locking in losses versus buying low in a new account.

Key Points:

• Consolidation Without Timing the Market:
  Rolling over a 401(k) to an IRA during a down market is neutral in effect—comparable to exchanging one dollar for another.

• Direct vs. Indirect Rollovers:

  • Direct Rollover: Funds move directly between accounts without tax implications.
  • Indirect Rollover: Funds are sent to the individual, who must redeposit them within 60 days to avoid taxes and penalties.

• Conversions to Roth IRA:
  In a down market, converting a traditional IRA to a Roth IRA can be advantageous due to lower taxable amounts, but it's essential to consider one's income level and tax brackets.

• Resource Recommendation:

  • Capitalize: A service that assists with rollovers for free, funded by brokerage partnerships.

Notable Quote:
Matt [43:49]: "If you're talking about converting a 401k to a Roth IRA... that's a strategy worth considering."

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5. Paying Cash for a New Car

Listener: Drew
Timestamp: [44:11]

Drew asks whether it's advisable to pay cash for a brand-new Toyota Highlander Hybrid, considering it's the family's sole vehicle.

Key Points:

• Depreciation Costs:
  New cars typically lose a significant portion of their value within the first few years. For example, a $55,000 Highlander might depreciate by over $25,000 in five years.

• Financial Prudence:
  Paying cash for a new car avoids hefty loan payments (averaging $750/month) but dealers may favor financing to increase their profits through marked-up loans.

• Alternative Approaches:

  • Negotiate Price: Secure a fair price before revealing payment method.
  • Immediate Payoff: Finance through the dealer's finance department and pay off the loan immediately to reap the benefits without long-term commitments.

• Personal Experiences:
  Joel mentions purchasing a second car for $4,000, which has minimal depreciation compared to new vehicles.

Notable Quote:
Matt [47:08]: "It's super cool, Drew, that you've got the cash on hand. Hopefully, you're thinking about paying for that straight up. That's a huge accomplishment."

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Conclusion

In this episode, Joel and Matt provide thorough and relatable advice on navigating complex financial decisions. From adopting sophisticated investment strategies to safeguarding online privacy, managing healthcare emergencies, optimizing retirement accounts, and making wise purchasing choices, the hosts empower listeners with the knowledge to enhance their financial well-being.

Notable Quote:
Matt [53:04]: "Asking the right questions can greatly impact your future, especially when it comes to your finances."

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Additional Resources Mentioned

• Capitalize: www.capitalize.com
• DeleteMe: www.deleteme.com
• SHIPhelp.org: www.shiphelp.org
• Permission Slip by Consumer Reports: Available through Consumer Reports website
• M1 Finance's David Swensen Portfolio: Check M1 Finance’s platform
• How to Money Website: www.howtomoney.com

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Stay tuned to How to Money for more expert financial advice and tips to help you thrive on your money journey!

Transcript

[Matt]

Asking the right questions can greatly impact your future, especially when it comes to your finances.

[Joel]

So if you're looking for a financial advisor you can trust, certified financial planner professionals are committed to acting in your best interest. That's why it's got to be a CFP. Find your CFP [e-mail].

[Shannon Schuyler]

In a world of economic uncertainty and workplace transformation, learn to lead by example. From visionary C suite executives like Shannon Schuyler of PwC and Will Pearson of iHeartMedia. The good teacher explains the great teacher inspires.

[Joel]

Don't always leave your team to do the work. That's been the most important part of.

[Matt]

How to lead by example.

[Shannon Schuyler]

Listen to leading by Example executives making an impact on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. From the producers who brought you Princess of South beach comes a new podcast, the Setup. The setup follows a lonely museum curator, but when the perfect man walks into his life.

[Matt]

Well, I guess I'm saying I like.

[Shannon Schuyler]

You, you like me. He actually is too good to be true.

[Matt]

This is a con.

[Shannon Schuyler]

I'm conning you to get the dilemma painting.

[Joel]

We could do this together.

[Shannon Schuyler]

Listen to the Setup on the iHeartRadio app, I Apple Podcasts or wherever you get your podcasts.

[Joel]

Welcome to how to Money. I'm Joel. I'm Matt, and today we're answering your listener questions.

[Matt]

Joel bringing it with a staccato delivery, which I tend to do sometimes, too, if I'm really trying to make a point.

[Joel]

I learned staccato delivery in middle school band. Playing the saxophone.

[Matt]

Why did I think he played the trumpet? For some reason?

[Joel]

No, your wife played saxophone. I played saxophone.

[Matt]

Yeah. Y'all both played the sax.

[Joel]

I wasn't cool enough, I don't think, to play the trumpet.

[Matt]

Do you have to be cooler? I feel like saxophone players have the cool sax vibes.

[Joel]

I don't know. I was in the eye of the beholder. I think I. My mom really liked Kenny G, and so I was like, oh, my mom will love me more if I play saxophone.

[Matt]

Classic 90s plus.

[Joel]

I think that dude's cool, and I'm sure he is cool, but I don't know if he's as cool.

[Matt]

Wait, is that the kind of sax that he play?

[Joel]

Well, he plays, like, all the saxophones, but I think he plays.

[Matt]

I saw a picture of him with one one time, and I was like, oh, that's just like the straight thing.

[Joel]

It looks like a clarinet. That's the alto saxophone. Yeah.

[Matt]

Look at you. I Didn't know how much band knowledge you had, Joel. I've got zero band knowledge.

[Joel]

More than I want. I've been trying to get it out of my brain.

[Matt]

I literally didn't know that there are certain stereotypes that go with certain instruments. And so what's the stereotype? Well, so our oldest daughter, she plays the clarinet and I was talking to the Bane guy one time. He was like, oh, yeah, it's. That's she the firstborn or I don't know. He was just something as far as her being responsible kind of put together. He's like, that's kind of a clarinet type of player who versus he's like, you know, the saxophone player, the trombone guy.

[Joel]

That's their middle child.

[Matt]

They're just loud and just trying to get all the attention and they don't care which. I was like, oh, wow. This is like a whole other world that I did not know about.

[Joel]

Yeah.

[Matt]

We are not going to continue to talk about band instruments, though. We are going to answer your listener questions. For instance, if delete me is worth it. If you are a listener out there and you're thinking about getting your personal information scrubbed from the Internet, should you pay for that? We're going to talk about the Yale Endowment Fund portfolio. Listener is wondering if he should switch things up.

[Joel]

Should we invest like the best?

[Matt]

Is he other best, Joel? We will see, actually.

[Joel]

They did quite well.

[Matt]

Another listener, though, he's talking about paying cash for a car. Not just any car, though, a brand new car. Whether or not that passed the how to money frugal test. There isn't really a test, but we will weigh in.

[Joel]

Oh, there's a test.

[Matt]

And share our thoughts. How's it going, by the way, with you mentioned opening a Capital One kids account for your oldest daughter. Is that. Is that working out for you?

[Joel]

For Both girls? Yeah. 11 and 9 year old. And it's actually worked out really well because I can have the allowance automatically put into the account on Sundays is typically when we disperse that. So I have it automatically in. But if there's like a reason that I don't need to send that money over, like bad behavior map, then I.

[Matt]

Can chores then get done. Yeah, put a pause. Put a hold on that payment.

[Joel]

There's a debit card that goes along with the girls if they need it. Lots of times if we don't have the debit card while they're out, I can pay with my own card and I can literally transfer the money from my phone instantly from their account back into mine.

[Matt]

Oh, nice do you show them, like, hey, look, you are actually paying for this? That's the biggest thing is on my mind because our oldest continues to earn lots of money babysitting. And I'm just like, should we, like, are we making a mistake by not opening an account? Because, you know, we talked about this before. Early on, we maybe went too hard in the digital side of things. Now I've kind of swung the other way and I'm just like, you know what? For now, what's important is instilling the value of money, right? Like a dollar earned, what that's worth to her, what that can potentially buy. And for now, we're still doing the cash thing, but, you know, I'm still thinking about, you know, she might be able to make 50 bucks in interest or something like that were she to have that money and, you know, earning 4%.

[Joel]

To me, it's less. It's less about the interest. Although that is nice that they can earn something on their money. But we're still talking about such piddly amounts for. It's not that for my kids, it's.

[Matt]

Not a deal breaker.

[Joel]

About your kids, she's my. My daughter's arm don't have quite as much money to deal with as yours. But I do think there is something about being able to show them exactly how much they have, being able to move that money around effortlessly and even, just to be honest, a failure on my part for doling out the money consistently on. On allowance day. And so I like the idea of the physical system, especially when kids are younger. But at some point, if dad's too forgetful or doesn't stick to it well enough, then how much enforcing am I actually doing? And so now when it's on kind of automatic.

[Matt]

Yeah.

[Joel]

But then also there's easy ways for me to kind of share their progress with them. They're asking, hey, how much do I have? Hey, I want to go spend on this thing. How much is that going to reduce? How much will I have left if I do that? And then it helps them make informed decisions. So, yeah, I'd say it's working out well.

[Matt]

I do wish that she would do a better job keeping up with her running total. Cause that's something that she doesn't know. She knows she's got enough. But I'm like, well, how much do you have? She's like, well, I don't know. I know I've got enough to go pay for this or pay a sibling to do something that she doesn't want to do. Actually is what she's been doing lately. But let's get to make my bed for me.

[Joel]

Hey, give me a foot rub.

[Matt]

Yeah, not quite that, but yeah, there are different incentive structures bouncing around the house, even within just the kids that mom and dad that we're not even involved with. But the beer, Joel, that you and I are going to enjoy during this episode is called a houndstooth. This is a sour with BlackBerry, pear and ginger, a beer by contrast artisan ales. I'm looking forward to enjoying this one and we will share our thoughts at the end of the episode, buddy. But like we mentioned earlier, this is an Ask how to Money and you can send your own voice memo over to Joel and I to review to answer here on the podcast.

[Joel]

I'm literally sitting by my email inbox waiting for your questions.

[Matt]

Joel does all day.

[Joel]

I just keep clicking refresh, refresh and I'm waiting for your question. And yes, if you think I'm talking to you right now, I am. Send your question over.

[Matt]

He's boring directly into your soul through. Well, I guess not through your eyes like you normally would, but it's through your eardrums.

[Joel]

Go ahead, make my day.

[Matt]

Which is a weird way to do it. Send me a question, literally record your name, where you're from, lay out your financial money situation that you've got going on and email it over to [e-mail].

[Joel]

And no question too stupid.

[Matt]

Like literally, the weirder the better. And hopefully we will answer that on an upcoming episode. We're going to now hear a question from a listener who is interested in perhaps a fancier way of investing his money.

[Brendan]

Hey Matt and Joel, it's Brendan from Temple, Texas calling in with a question. I was wondering yalls thoughts about the Yale model that was created by David Swenson, who was managing the Yale Endowment Fund. I learned about this on an NPR podcast that was talking about money and investments. And this model is 30% in U.S. stocks, 15% for stocks of companies in other developed countries like Germany, France, Japan, 5% in emerging markets, 20% in US real estate, 15% in US treasury bonds, and 15% in US treasury inflation protected securities. And apparently that beat out a lot of the investments in mutual funds. So I was wondering if y'all thought it was worth the effort that it would take to split a portfolio into these different categories. If you had any suggestions on how to split into these different categories, especially with the real estate part, as it was very difficult now to get into the real estate market as you all know, I hope you all have a great day. And again, if you're in the Temple area or the Austin area, highly recommend you check out Barrow Brewing, pick up one of their evil catfish, which is a very good classic ipa. Best friends out.

[Joel]

All right, man, let's answer Brendan's question. And I'm going to. If I was going to give a name to this question, I would say investing like the Ivys, because that's kind of what Brendan's getting at here. I think part of his question, and I know he's not asking this directly, but I feel like he's kind of asking us if we're smarter than a team of brilliant people who analyze and manage this complex investment portfolio for a major university. I think the answer to that is easily, no, we're not. We're willing to confess that, admit that out loud. And David Swensen in particular, was an incredibly brilliant guy. He passed, I think, in 2021. But I think still with that in mind, knowing that upfront, we're not as smart as the people inside of the Yale Endowment Fund, we'll do our best to offer some. Some humble thoughts on whether or not you should invest like those people.

[Matt]

Yeah, well, that's the thing, because like lots of different smart folks out there, there are a whole lot of brilliant folks, and they come down on different sides of the debate when you're talking about investment diversification. Right. And so I think there's a lot to take into account there. But it's important to start, I think, by asking the question, what was the Swensen model trying to achieve? So, for instance, do you have the same needs, do you have the same risk tolerance as the manager of an endowment fund at a major Ivy League college? An endowment fund typically has different goals than when an individual hoping to retire in, say, 30 years, the goals that they have. And Swensen, he was opting for a mix of assets where he was rebalancing regularly, and he didn't allow anyone holding to grow more than 30% of the overall total portfolio. And so let's just kind of quickly share how it worked out. Actually, it did pretty well. So there's a chart we came across from 1997 to 2021, when he ran that specific fund, it came close to matching the performance of the S&P 500. And so you might be thinking, whoa, didn't actually surpass the S and P. It sounds like it failed. But one of the major benefits of Swenson, as opposed to the S and P, is that the maximum drawdown was meaningfully less. So basically his portfolio construction actually led to less volatility, which makes a whole lot of sense considering that I think when it comes to a massive endowment fund, you're probably looking to minimize risk like you're looking to keep the amount of money that's held. Like, you don't want to see that number going down. Right. Like if you are in charge of endowment fund, you want to see that number continuously going up and to the right, regardless of what the overall market is doing. And I think he was able to.

[Joel]

Achieve that drawdowns right over that period of time. And meaningful drawdowns, but not as, not.

[Matt]

As big as the S and P. Right.

[Joel]

Not as severe. And you can't as an investor, like, you can't avoid that altogether. If you do avoid that altogether, you played it too safe. Right. And you didn't maximize your returns. Yeah, you minimized the downside, but you didn't maximize the upside. And that's where the Morgan Housel quote, to save like a pessimist, invest like an optimist is crucial, especially if you've got time on your side to stay invested in the market. That's the right route to take. But I think this is one of the main reasons, Matt, like what you're just pointing out right now that greater levels of diversification that David Swensen and the Yale portfolio were going for, that added diversification does help reduce some of the negative consequences that you might encounter if you were too heavily invested in one specific way. Or let's say something like, we talk about being invested in the wealth building phase of your life, 100% in stocks. Some folks think it's all about trying to juice returns, like investing in a portfolio like this. But from all the evidence we've seen, outpacing the total stock market or the S and P by purchasing individual stocks or prioritizing a particular asset class or a specific sector, it can lead to greater returns in the short term, but it rarely does so over an extended period of time. But. Right. If you want similar or close returns to the overall market, but you're kind of freaked out by stock market gyrations, by big moves, and you know, we've seen at least some of those in the beginning of this year. If you want to invest but your emotions can't handle intense moves or prolonged downturns, I think opting for greater levels of diversification, it can make sense. You're kind of investing knowing your emotional abilities and saying, I kind of know myself, so I'M going to take a little bit off the table. I think it can smooth the ride while allowing you to reap the rewards of investing. I do think that's something like the Yale model does. You're still getting a lot of the upside, but you're eliminating at least a bit of the downside.

[Matt]

Sure, yeah. As we're discussing different approaches to investing, tried to feature folks on the show who have thought deeply about asset allocation specifically. And I'm thinking of Paul Merriman with the two fund approach, as well as Brian Feroldi who invests in single stocks. They both have very different philosophies from each other and it's important to note that neither one of them is right or wrong. Each of those guys has different goals, desires and interests when it comes to their overall portfolio. But speaking of guests of the show say, future guest of the show, Warren.

[Joel]

Buffett, it's going to happen one of these days.

[Matt]

He suggested that his heirs be 90% invested in a low cost S and P fund. For instance, Voo and Warren, he might be the greatest investor of all time. It is not what he specifically like him personally what he does, but it's what he suggests for individuals who don't want to eat, sleep and breathe investing to where it completely dominates their life. There is wisdom here and the realization that if you complicate things too much. I think what we're highlighting here is that there's a hurdle that I think can prevent people from taking action, from actually getting in the market. If you feel like it's got to be perfect, otherwise I'm not going to participate at all.

[Joel]

Yeah. If you start slicing and dicing a pie chart and you start to explain to people, well, you need like 12% of this and 18% of that and you need to rebalance it once a year, you start to lose a vast majority of people who want to invest but feel like it's too complicated.

[Matt]

It sounds like a massive pay in the butt. Here's the other thing too. Warren said that a while ago. I think he was actually 83 years old when he made that recommendation. And it wasn't just for like, what is he now?

[Joel]

94, 95, 94, 95, something like that.

[Matt]

But that was for his wife were he to die. And she is pretty dang old. And typically as you get higher up in your years, like you are looking to diversify your portfolio, you are taking on more bonds, more than 10%, which is what he was recommending there, reducing.

[Joel]

Some of the risk.

[Matt]

And so this, that's a very aggressive, highly invested in stocks kind of portfolio for someone who's later on in their years. For everybody else, I would say that age or even younger, I think it makes even more sense to consider a full on portfolio that's invested in stocks. But if you have a lower risk tolerance, if you don't have years of waiting for your portfolio to recover. Opting for a low cost target date fund can be really smart because depending on which date you choose, you would be getting maybe closer to the 70ish 30ish mix. 70 stocks, 30 bonds. By investing in one single fund, you'd be missing some elements. This is a simpler one fund choice as opposed to trying to personally create your own Swensen like portfolio.

[Joel]

Yeah, we typically advise to keep it simple, Matt. I think that's what you're highlighting here. If you want to get pushed a little bit further in that direction, the target date fund is a reasonable and incredibly intelligent choice. If you're saying no, I want the ride to be a little bit smoother and I want a little more diversification. The target date fund makes a whole lot of sense and, and there are great low cost options through some of our favorite brokerage firms like Vanguard, Fidelity and Schwab. Ultimately what it comes down to is the more complicated you make portfolio construction. The more you said the word hurdles, Matt, the more hurdles you're setting up, the more barriers to entry, the more someone likely feels that they have to hire expensive professional, that this can't be a DIY endeavor. I'm just so thankful that so many people over the years dumbed it down for me to a place where I was like, okay, no, I understand why. Simple is actually a reasonable approach. That's something that Wall Street's done really well over the years. They've made it seem really difficult for you to be an investor, for you to do this on your own. I think if we try to tell people to copy some of the investing greats who inside of a day job and an endowment fund can take a different approach. While it's kind of fun to think about, I think a lot of people then might feel insufficient to do it by themselves. And I just don't think that's the case. I think most people can do it by themselves.

[Matt]

That's right. Especially just as you over time build up your skills. That's what's so great about investing too is when you first start investing, you don't have a whole lot of money on the line. And so I think that can allow for folks to be like, okay, you might feel a little bit nervous about it the very first time, but you're like, you know, I'm only talking about putting a couple hundred dollars in. And over time you are able to build that confidence. But then in addition to that, technology has actually made opting for a specific investing approach a ton easier. M1, for instance, they actually have a David Swenson pie that they've already created. And this isn't a service that they charge for. Like, you're not, it's not like you're paying a premium to M1 in order to have your portfolio full managed by a late David Swenson. No, there is an average overall expense ratio that is completely reasonable and we'll actually, we'll make sure to link to that in the show notes if anyone happens to be interested. Yeah, but Joel, we've got more to get to including we're going to hear from a listener who is interested in paying for medevac insurance, whether that's something that's needed or even worth considering. We'll get to that and more right after this. Asking the right questions can greatly impact your future, especially when it comes to your finances.

[Joel]

So if you're looking for a financial advisor you can trust, certified financial planner professionals are committed to acting in your best interest. That's why it's gotta be a CFP. Find your CFP professional at letsmakeaplan.org Ryan.

[Matt]

Reynolds here from Mint Mobile with a message for everyone. Paying big wireless way too much. Please, for the love of everything good in this world, stop with Mint. You can get premium wireless for just $15 a month. Of course, if you enjoy overpaying, no judgments. But that's weird. Okay, one judgment. Anyway, give it a [e-mail] Switch upfront.

[Shannon Schuyler]

Payment of $45 for 3 month plan equivalent to $15 per month required intro rate first 3 months only, then full price plan options available, taxes and fees extra. See full [e-mail] I'm Camila Ramon Peloton's first Spanish speaking cycling and tread instructor. I'm an athlete, entrepreneur and almost most importantly, a Perreo enthusiast. And I'm Liz Ortiz, former pro soccer player and Olympian. And like call me a Perreo enthusiast. Come on, who is it? Our podcast Hasta Bajo is where sports, music and fitness collide and we cover it all. The Arriva Hasta Abajo sit downs with real game changers in the sports world like Miami Dolphins CMO Priscilla Shumate, who is redefining what it means to be a Latina leader. It all changed when I had this guy come to me. He said to me, you know, you're not Latina enough. First of all, what is that? My mouth is wide open. Yeah. History makers like the Sucar family, who became the first Peruvians to win a Grammy.

[Matt]

It was very special moment for us.

[Joel]

It's been 15 years for me in this career. Finally, things are starting to shift into a different level.

[Shannon Schuyler]

Listen to Astavajo on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts, brought to you by Novartis, founding partner of iHeart Women's Sports Network.

[Joel]

All right, Matt, we're back. Let's get to another listener question. This one is specifically about scrubbing yourself from the Internet.

[Matt]

Hi, this is Kathleen, and I live in California. I'm just calling to find out what.

[Joel]

You think about the delete me subscription.

[Shannon Schuyler]

Signing up and it helping with identity.

[Joel]

Theft or spam type of things.

[Matt]

If you could let me know.

[Shannon Schuyler]

Appreciate it.

[Matt]

I enjoy your show. Love listening to it.

[Shannon Schuyler]

Thank you very much.

[Matt]

Thank you for the kind words, Kathleen. Joel loves listening to our show as well.

[Joel]

I love listening to myself talk.

[Matt]

Do you check. Do you check it and make sure, like, the ad, like, make sure it's playing properly.

[Joel]

Make sure the ads are inserted Sometimes I used to. I used to be way more particular about it.

[Matt]

I still check it sometimes with the kids are like, what are you. Why are you listening to yourself? I'm like, it's kind of like I'm just work.

[Joel]

You got a big ego, dad.

[Matt]

That's not what I'm doing. Oh, man. Is that an Aziz I'm sorry joke? When he talks about going to Kanye's house, he's like, he's sitting there on his own couch, bobbing his own head.

[Joel]

To his own music.

[Matt]

Kind of no surprise, no wonder that he is where he is now.

[Joel]

Let's pour one out for our buddy Kanye friend, maybe.

[Matt]

Kathleen, you are not the only person out there worried about your privacy and your data. It's hard to believe that the Equifax data breach that impacted roughly half of Americans, I think that was like close to eight years ago at this point. And that was essentially like this turning point in the conversation around privacy, at least for, I think maybe the vast general population. It freaked a whole lot of folks out. And after that, it started a proliferation of companies who were trying to sell you monitoring software in order to help to provide some of that peace of mind, including the credit bureaus. I mean, shortly after, like in that period of time is when they started having all these, all these different products out there, man.

[Joel]

Yeah, I mean, it was. People were expecting that institution of all institutions to safeguard their data and they just didn't. And so it kind of turned everything on its head. It's like the bank owner stealing from the bank vault. You're just completely unexpected. Wasn't banking on that. Now everyone wants you to like take back your privacy. I feel like that's maybe a slogan you hear, or at least that's the general ethos that you hear from marketing of various companies. The thing is, they're making a buck on your back to do this almost all the time. You're now having to pay to claw back your privacy, which is also just kind of frustrating when you think about it, because you didn't, you weren't the one who dished out your information all over the Internet. You didn't make some sort of public decoration on social media of your Social Security number, your home address, all that kind of stuff. But it seems like those things are out there. And I think the biggest thing that we want you to protect, Kathleen, is your money and your credit. And so this means having like two factor authentication on all your bank and your investment accounts that massively decreases the chances that someone can log in as you and start moving money around. Matt, it's like the, the old password 1, 2, 3 sort of thing. If your password is simple or you don't have two factor authentication, it's just going to be easier for, for hackers to get into that one account and then try to log into other account if they're you, you don't want to be the easy target. It's like if you're trying to outrun a bear, you just have to outrun your friend, your closest friend or something like that. Right. And I think this is similar too. Just like you have to institute those basic safeguards, that'll go a long way.

[Matt]

And Internet hygiene. Yeah, yeah.

[Joel]

And on top of that, we want you to freeze your credit with all the major credit bureaus. The cool thing is doing both of those things. It's a free thing. You don't necessarily need to pay anyone for that. I think you're going to get most of the way. There's just by doing those two things, we actually have a guide to freezing your credit up on the website that we'll link to in the show notes.

[Matt]

Super fast, super easy to do. But let's talk about Delete me because they are offering something a little Bit different. So instead of protecting your finances or instead of making sure that someone doesn't open up a line of credit in your name, what they're doing essentially is protecting your online reputation. They're essentially trying to take down Internet content that services about you that's got your name or your information associated with it.

[Joel]

Like when the paparazzi catch you in public, Matt, they're taking those pictures, they're posting them, those entertainment sinitis sort of websites.

[Matt]

I don't want that to happen.

[Joel]

That's right.

[Matt]

And so if someone searches your name, delete me, they can make it appear like you don't exist. They are attempting at least to take down all mentions of your name, address, age, phone number, stuff like that. And it seems to work pretty well. Although they won't be able to scrub everything, the reviews are actually quite good. The customer reviews are good. So I don't know. The takeaway here is that it's a legit product. And if that's something that you. I don't know, I almost see it as like a splurge. It's not something. It's not necessary. But if you're kind of. If it's a priority for you, I guess I could be okay with it.

[Joel]

Some people care more about it than others. I don't know if this is true, but I largely think of it across generational lines. I think some people. I guess I'm just of the generation, Matt, where I just assume all my information is out there and that there's not much I can do about it besides some of the basic things we just talked about. But there are other people who say, no, no, I'm tired of seeing my information out there on all these websites. If I Google my name, the things that come up, it's kind of scary, it's kind of disconcerting. And there is a way to claw that back and delete me as a service that allows you to do that. I get the value in it for people who feel that way. And I think it's sad, but just like we're forced into doing business with the credit bureaus, there's just no right to privacy online. The data brokers, they can kind of do what they want with our information. And it's kind of like guerrilla warfare, trying to get that stuff taken down off the Internet in so many ways. And there are free ways to protect yourself online. We just mentioned a couple. But the downside of trying to attempt to claw back your publicly posted information is that typically it costs you money. Delete Me is a paid service. It's like 11 bucks a month, something like that could be a few dollars less depending on how long of an arrangement you opt for. And then whether or not you decide to pay for that depends on how nervous you are. I think about your information being online and whether or not privacy is worth the cost to you. DeleteMe does have on their website they list a hundred percent satisfaction guarantee which allows for full or partial refunds if you're not satisfied with the results. I always appreciate doing business with a company who stands behind what they do. And then if you reach out and you say, hey, that didn't live up to what I thought it was going to. Let me, let me point out this instance in this instance where you failed me, if they're willing to back that up with a, with a guarantee that, that heartens me, it makes me more likely to use their service.

[Matt]

Totally. Yeah. There are going to be other ways though for someone to find you. I think that's. It is worth pointing out and it's worth acknowledging that just because you are paying Delete me to take care of this for you, it doesn't guarantee that that's gonna happen. There are other ways to find your information, like public records, a lot of states. You can just look up people and their property and addresses online. Or I'm also thinking about social engineering, which is another way hackers try to kind of backfill information based on not what you post but like what your friends are posting. And it's like, oh, you're in a picture. Oh. And they start, you know, they start finding a way to piece all of this together. It's not guaranteed, it can be messy if this is something that you are interested in trying to tackle. But some folks will tell you though that you can do this for free. So for instance, you can actually go to like directly to some of the sites that Delete me is scrubbing your information from. They just list these out in detail on their site.

[Joel]

I love that they literally put all the websites that they're trying to take their information down for. Like they have a really, really long list of all the companies this websites they work with.

[Matt]

It's not as easy as paying the money and then just having them take care of it for you. But that's one way of approaching it if you're attempting more of a DIY approach. Consumer Reports, they actually have an app called Permission Slip that's worth trying as well. It's also free, although it's pretty manual though. Like there are still work some steps that you have to take, hoops you have to jump through. But we'll also share a link where. So this is a GitHub article that was actually updated fairly recently and they very meticulously document a ton of different sites. And what I love about this is essentially they've created like a triage list and they're like, hey, no matter what, you need to focus on these 12 or so sites because some of these sites populate or propagate to other sites as well. So like these start off at the source. Yeah, yeah. So these are some of the most important ones and some of them are easier than others. Like some of them is just literally going on there. You fill out a form, you make a request, go to your email, confirm that link, that kind of thing. Other ones are a bit more difficult. And I'm gonna, I would save those for last, like within the triage urgent list of different sites. So for instance, like one, it's like they want a picture of your license, driver's license. And I'm like, hey, what y'all gonna do with that picture? This feels like the exact opposite of what I should be doing.

[Joel]

Right?

[Matt]

Are you awesome. Are you gonna sell that picture for like a premium to the folks, the different folks out there who are trying to farm all the different information out there. But I think that that could be a great way for folks to just start taking an active step, not only in personally removing that information, but understanding it as well. I think that can be just a helpful way to learn about it when you just spend a few minutes and kind of dive in there a little bit. And I think that that will help you just moving forward to have better online Internet hygiene as well.

[Joel]

Kind of see how the sausage is made from an Internet privacy standpoint. Yeah.

[Matt]

Not to be like a total pro or total expert, but just to have your head, your mind wrapped around it, I think could be really helpful.

[Joel]

I think any perfectionist here is going to be let down, Matt, because it's, it is a little bit like playing whack a mole where you're able to get some information scrubbed and then, well, something pops up over here and you got to whack that down. So, Kathleen, just know that paying for a service is going to make it a whole lot easier, a whole lot less labor and time intensive on your part. But you have to be aware of the trade offs and be aware that there are ways to at least DIY it in part. Hope that's helpful, Matt. Let's get to Another question, this one is specifically about how to pay for expensive healthcare in a pinch. Hi, this is Beth from beautiful Shelbyville, Illinois. Me and some of the other elderly women in our church group have been talking about medevac insurance. Some of us have it, some of us don't. I thought Medicare covered it, and some say it does, some say it doesn't, or under certain circumstances. I went on the Medicare.gov site and, well, I just can't figure it out. Can you enlighten me about it? Thank you.

[Matt]

So, Joel, I was waiting for Beth to follow up her question with the fact that her and the elderly church ladies were getting ready to hike Mount Kilimanjaro or something like that.

[Joel]

Oh, that would be awesome.

[Matt]

Like my. I've got an aunt who did that. That's why I really. Yeah.

[Joel]

How old was she?

[Matt]

She was like in her early 50s. That's impressive when she did that. Yeah, it was a. They, like, prepared for it and trained and did all that. That's what I was picturing.

[Joel]

I've had some young friends who recently did it and they made it sound like it was incredibly challenging. And I think it's very dusty, if I'm not wrong. And so like the middle of Africa. Yeah. So just what it does to your sinuses is. It sounds pretty, Pretty, pretty brutal.

[Matt]

Okay, well, more props to Aunt Betsy for having done that too, man.

[Joel]

I mean, that's just you getting high up. There's thin up there.

[Matt]

Yeah. But I think this is why she specifically mentioned where she's from. And she specifically called out Shelbyville, Illinois. And so I had to look it up, of course. And it's like out in the middle of nowhere. So started. Things started clicking into place a little bit. It's like, oh, you don't have access. Like, nowhere near you is a high quality emergency care facility. And so that's probably a little bit more on her mind. It's on the mind of her and her friends when St. Louis is over two hours away. And that's assuming they live right in the middle of Shelbyville. They're probably like out in the rural parts of this rural town.

[Joel]

Yeah. And that's. That's why. Yeah, you're right. That's a really good point. That different people have different concerns based on how close they live to a top tier hospital. And if you do live kind of further out in rural America, not only do you probably have slower Internet, but you also have less proximity to the healthcare that you need in an emergency situation.

[Matt]

Not something I ever considered having Pretty much always lived in the middle of a major metropolitan. Major city.

[Joel]

Yeah. And Beth, it sounds like you're mostly wondering whether Medicare has got your back on this. And let me reassure you, the answer is yes. Medicare Part B in particular will cover emergency ambulance needs. And I looked up the specific wording on Medicare.gov for you because I wanted you to have it in plain English. It states that Medicare Part B covers ground ambulance transportation. When traveling in any other vehicle could endanger your health and you need medically necessary services from a hospital or skilled nursing facility. Medicare may pay for emergency ambulance transportation in an airplane or helicopter if you need immediate and rapid transportation that ground transportation can't provide. So that's specifically the wording on the Medicare website. I would imagine you would easily fall under those rules given where you live and given the fact that in an emergency situation you are far too far away to. To expect an ambulance to take you two hours to St. Louis if, let's say there's some sort of catastrophic injury.

[Matt]

How fast does the helicopter go? Oh, I'm guessing a lot faster than an ambulance, right? A lot. I've never. Have you ever been in a helicopter?

[Joel]

No. I would love to.

[Matt]

I have once when I was really young, but we weren't going fast. We were looking at Mount Rushmore. Oh, really?

[Joel]

Oh, that's cool.

[Matt]

I wasn't like, how fast does puppy go?

[Joel]

Well, I think they can go pretty fast.

[Matt]

Yeah.

[Joel]

Yeah. But I think, you know, they specifically outlined Matt on the website that it needs to be the nearest appropriate medical facility. So you're not going to be able to get like a helicopter ride to Southern California or something like that. Be like, I'd like to go there for my medical coverage. In that case, you'd be on the hook for your own medevac flight. But that is a huge benefit that Medicare provides. A few mile ambulance ride, Matt, can cost many hundreds, if not thousands of dollars. And think about how much the helicopter ride would cost. You want to make sure you have that coverage before you just assume, right?

[Matt]

Totally. Yeah. And when it comes to the cost, you're going to be responsible to cover your annual deductible and you're also going to be responsible for the 20% copay of the Medicare approved amount for that medevac. So with that in mind, you can rest easy while you're home there in Illinois that if something happens to you and you need emergency transportation, that Medicare Part B has got you covered. But we're not talking about having coverage overseas when you're traveling you'll want to make sure that you buy your own policy. And we're just talking about this, not necessarily because she mentioned it, but maybe because, I don't know, just in case. Yeah. In our mind, we're thinking about traveling.

[Joel]

Because you might read that and say Africa. Yeah, I'm covered anywhere and everywhere, all the time. And you're covered in the United States, but if you go climb Kilimanjaro, it's a different.

[Matt]

It's a different deal.

[Joel]

Yeah.

[Matt]

Yeah. So there are sites like insuremytrip.com as well as World Nomads. They are worth checking out. But just know that this type of insurance could add over 10% to the overall cost of the trip. It's not cheap, but if you're worried about needing medical transportation, though, it's worth the cost, the financial risk, it's too significant and kind of depends on your personal situation whether or not that's necessary. I'm thinking about secondary credit card benefits because they typically offer different types of travel insurance coverage. We often talk about trip cancellation, lost bags, even, like the primary CDW that comes with, let's say, the Chase Sapphire preferred card. But if you. If something happens, let's say, while you're abroad, it doesn't include any medical insurance, but guess what car does? The Chase Sapphire reserved. You get medical evacuation services like that.

[Joel]

What's the. On that card?

[Matt]

When I say free, you didn't see my. My fingers say free because it's over $500 a year for that. Well, it's a very expensive car.

[Joel]

But that's still reasonable when you consider if you're going on one or two international trips a year where you really want that coverage, hey, maybe it pays for itself. It's also, I'd be curious to know, Matt, do you know if that has limits on the amount of money that's covered?

[Matt]

I'm sure it does.

[Joel]

Maybe it's like up to a $10,000 expense. So in that case, you might not have enough coverage. Even so, look into the fine print and make sure that, oh, I'm going with this credit card. It's going to cover me. Well, does it offer enough coverage? Because you might still on top of that need to get your own secondary policy. And last but not least, if you have Medicare questions and you want to talk to someone who can walk you through the particulars, there's a cool website I stumbled upon called shiphelp.org it's really cool because trained volunteers are available in every single state across this country to help walk you through Medicare questions you might have. Because some of the details can be tricky like this, right? You're like, what, what do I, what am I covered for? And when am I covered for it? What happens when I go travel? Like, I think that's a pretty dang valuable service. And I love that it exists for seniors across this country to get the answers they need when they're not really sure whether or not they're covered.

[Matt]

And you might be thinking, why is it called shiphelp.org well, it stands for state health insurance assistance program, which means they forgot the assistance in the A. So really it should be sheapp.org yeah, it's got a much better ring to it if you ask me. It's my opinion.

[Joel]

I like that. No, I think we'll send them an email, see what they can do. All right. We've got more money questions to get to, including one about retirement account rollovers in a down market. We'll get to that and more right after this.

[Matt]

Asking the right questions can greatly impact your future, especially when it comes to your finances.

[Joel]

So if you're looking for a financial advisor you can trust, certified financial planner professionals are committed to acting in your best interest. That's why it's gotta be a CFP. Find your CFP [e-mail] I'm Camila Ramon.

[Shannon Schuyler]

Peloton's first Spanish speaking cycling and tread instructor. I'm an athlete, entrepreneur and almost most importantly, a perreo enthusiast. And I'm Liz Ortiz, former pro soccer player and Olympian. And like, call me a parrello enthusiast. Come on, who is it? Our podcast, Hasta Vajo is where sports, music and fitness collide and we cover it all, the Arriva Hasta sit downs with real game changers in the sports world like Miami Dolphins CMO Priscilla Shumate, who is redefining what it means to be a Latina leader. It all changed when I had this guy come to me, he said to me, you know, you're not Latina enough. First of all, what is that? My mouth is wide open. Yeah. History makers like the Sucal family who became the first Peruvians to win a Grammy.

[Matt]

It was a very special moment for us.

[Joel]

It's been 15 years for me in this career. Finally, things are starting to shift into a different level.

[Shannon Schuyler]

Listen to Hasta ajo on the iHeartRadio app, Apple podcast or wherever you get your podcasts brought to you by Novartis, founding partner of iHeart Women's Sports Network. Are your ears bored? Yeah. Are you looking for a new podcast that will make you laugh, learn, and say gay? Yeah. Then tune in to locatora radio season 10 today. Okay. I'm Diosa. I'm Mala, the host of Locatora Radio, a radiophonic novella, which is just a very extra way of saying a podcast. We're launching this season with a miniseries, totally nostalgic, a four part series about the Latinos who shaped pop culture in the early 2000s. It's Lala checking in with all things Y2K 2000s. My favorite memory, honestly, was us having our own media platforms like Mundos and MTV Tres. You could turn on the TV, you see Thalia, you see JLo, Nina Scott, Evie Queen, all the girlies doing their things, all of the beauty reflected right back at us. It was everything. Tune in to locatora radio season 10. Now that's what I call a podcast. Listen to Locatora Radio Season 10 on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

[Matt]

All right, Joel, we are back from the break. Let's now get to the Facebook question of the week, which is from an anonymous poster who wrote my favorite kind. Don't show your face around the anonymous. I know you shouldn't cash out any retirement accounts when the market is down like now, but should you also avoid rollovers? In theory, you're locking in losses, but also buying low in the new account. Not sure if there are other considerations. My reason for rolling over is simply to consolidate accounts. And, man, it's totally true that you shouldn't be cashing out when the market is declining. The goal is to have a plan in place, right. So that those, those declines barely register. You don't want to be checking your. Your retirement account, Joel, where you're feeling swayed to do something about it, as opposed to the, don't just stay in there, do something. It's like, no, no, let's like turn that saying on its head.

[Joel]

Stand there.

[Matt]

Yeah, yeah, just wait around for it.

[Joel]

Yeah, no, I think you're right. And I think that. But that is what happens is people are paying attention to the headlines, whether they, if they read the Wall Street Journal or something like that, they're just seeing, they're. They're seeing the mess that's happening all around them or they're seeing the daily moves of the stock market and it just makes them more inclined to try to fix it. Right. To try to catch that falling knife, which is just a bad idea. So you're right, man. It's like that. Knowing your what, your why and your how, that's going to make a big difference in helping you stay the course, as well as just kind of tuning some of that stuff out. But what's happening with the stock market in terms of a rollover, like from a 401k to an IRA, it really has no bearing. Like it's essentially a wash. And what the stock market is doing right now, it shouldn't have any impact on whether or when you decide to do that rollover. It's kind of like in my mind, trading a dollar bill for a Sacagawea dollar coin. They're both worth the same amount. And so you're just in a different form. Yeah, exactly. In a different form. So there's no harm in doing that. No matter what day of the week, no matter what time of day. It's the same is true with making that rollover happen.

[Matt]

Exactly. Do, however, make sure that you opt for a direct rollover. Because if you opt for an indirect rollover, what that means is that's when you get a check sent directly to you. I'm going to ask directly. I'm just going to say you're going to get a check sent to you because I don't want to confuse the direct and indirect here. They send it to your mailing address with your name on it. When they do that, there are potential tax consequences if he dwells in your court. Yeah. If you don't get that money into your new account within 60 days, and this is assuming that you're rolling again, something like a 401k into an IRA, if that's the case, it does not matter. It does matter, however, if we're talking about converting, let's say a 401k to a Roth IRA.

[Joel]

Yes.

[Matt]

If we're talking about a conversion, a down market is actually good because you're paying, you know, you're paying taxes on the amount that it has gone down in value, so you owe less tax. And then the idea is that that money sits there in that Roth account and it grows tax free, hopefully for years, if not decades to come. If you're considering that, well, that's certainly a strategy, at least worth considering.

[Joel]

It's still, remember to keep in mind other factors too, like your income. So you're like, oh, market's down. Time to turn that traditional money into Roth money. Well, let's say you're a big income earner even though the market's down. Might still not be a great idea.

[Matt]

To do that yet, because you're going to owe Taxes on it.

[Joel]

That's right. And you're going to pay a higher rate if you're a big time income earner too. Uh, last thing Matt, I think we should mention here is just for people who want help with these rollovers, there's a company called Capitalize that helps for free. They make it really easy. We, we like Capitalize. We've written an article about them on, on the website. We'll, we'll link to that article in the show notes. I've used them for a rollover for, for my wife's old 401k. And why is it free? Like, what's, what's the catch? Well, they get paid by the brokerage firm you move it to. They don't get to choose the brokerage firm. They just have deals with a lot of these brokerage firms, including our favorite low cost ones. So if you're like, I want to do it, I don't want to screw it up, it's honestly not terribly difficult to do it by yourself. But I will say they made it easier than it otherwise would have been and I appreciated that. So at least consider getting capitalized to do it for you. Matt, let's get to another question. This one comes from listener Drew. He says, do you guys advise paying cash for a car? We're biting the bullet and buying a new Toyota Highland hybrid. This is our family's one and only vehicle, dude.

[Matt]

Okay, this is a very short question with multiple elements in it that are quite poignant. Right? And so first off, he's talking about a new car. And typically we recommend buying older cars, especially given how expensive SUVs and cars have become in recent years. And if Americans would just change that one light item and their budgets, it would improve their financial standing significantly. And a new Highlander is probably going to set you back like $55,000 or so. What that means is that in five years you're going to have coughed up more than $25,000 simply due to depreciation. And because I'm a pretty frugal dude, that is, I have a really hard time getting behind the new vehicle. The depreciation hit, man, it's, it's brutal.

[Joel]

We are a two car family now, Matt. You're a one car family still. But when we got that second car, I know you were, you were a little bit like, I don't know, man. You could have probably got by on one. And I will say the car, the second car I bought cost $4,000. So the depreciation I've experienced in the 2 ish years that I've owned that car.

[Matt]

Next to nothing, dude.

[Joel]

Next to nothing.

[Matt]

Yeah.

[Joel]

And so to me, yeah, does that money, does that car cost me a little bit of extra money every month in insurance and gas or whatever? Yeah, it does, but it doesn't cost me nearly as much as having a brand new fancy car. But there is something to be said part of this question. The listener, Drew, says, well, we're a one car family, and I do think there's more leeway to buy a newer or even a brand new car. I guess if it's your only car and you feel like you need it to be dependable and accessible.

[Matt]

I don't know, man. Sounds like an excuse to me.

[Joel]

I don't think it means you need a brand new car. I certainly don't think that.

[Matt]

I know it means you don't.

[Joel]

You certainly don't need a brand new car. But I think it's more understandable. And, you know, not everyone wants to live their lives like we do. So if you have, like, let's say, one older car, it ends up in the shop on the reg. It's a nightmare from a logistical standpoint. And the cost of running a car can be a pain, too. I get that we're less down on you opting for a sparkling new ride directly off the dealer lot if it's. If it's the only one you've got and if you plan on holding on to it for a whole lot of years. But still, it's not what we would do.

[Matt]

Yeah, I guess the only thing I push back on is the fact that it feels like an excuse to get the nicer vehicle when you can totally get by, have a perfectly reliable vehicle that you might have to proactively maintain a little bit more to make sure that you want to be able to rely on that thing. But I just, yeah, it makes me a little bit nervous when you start justifying something like that on something that's going to be depreciating, that's going to be going down in value. But do you guys advise paying cash for a car? Totally. Because I will say, regardless of how old or new the vehicle is, that's going to put you in a better financial spot. Most folks buy a new car and then what they're doing out there is they typically finance it to the max. That's why the average car payment on a new car is about $750 these days. And then that payment, it often hangs around for like five or six years, sometimes even longer. That's not something we want to see you do. So I think it's super cool, Drew, that you've got the cash on hand. Hopefully you're thinking about paying for that straight up. That's a huge accomplishment. That being said, from a logistics standpoint here, practically speaking, dealers don't love cash buyers, and that's because they stand to benefit more from buyers who take out a loan. This is something we talked about with our friends over at Car Edge that they shared on the show somewhat recently. Was that last year, Joel? Yeah, the dealer, they mark up the loans, and so when you pay cash, they're missing out on the increased profits that the dealership.

[Joel]

So he gets to realize you think you're doing something smart, but you're doing something really dumb by telling the dealer that you're paying cash ahead of time. I think there's still ways to pay with cash, but you don't want to, like, lay your cards on the table ahead of time. So don't tell the dealer. Walk in there and be like, hey, I'd like to buy this car. I'm paying with cash. By the way, you can reveal that fact later on after you've secured a price that you're happy with. They might assume, right, that you plan on getting a loan on that new car, and you don't have to correct their assumptions. Another tactic I think you can take is to go ahead and finance the vehicle through the F and I department at the dealership and then pay it off immediately afterward. And, you know, you stand by the way, I think, to save more money and headaches by sending out emails to a few dealers in your area. Check out that episode, episode 845 on car buying. Because if we're talking about a $55,000 purchase, doing it the right way can lead to a savings of many thousands of dollars. And we want you to save as much as possible if you're gonna buy this brand new car. But hopefully we've convinced you to at least think twice and maybe consider a nice, gently used, 678-year-old Toyota instead.

[Matt]

That's right, buddy. Let's get back to the beer. You and I enjoyed a houndstooth, which is a sour with BlackBerry, pear and ginger by contrast, artisan ales. What'd you think?

[Joel]

So, dude, this was a beer, but it tasted kind of like a fruited seltzer.

[Matt]

Oh, yeah.

[Joel]

I only know that because my wife likes to drink those. And occasionally I'll have a sip. I'm like, oh, this kind of tastes like one of those Things kind of tastes like a sour beer that I like. Yeah. So it's. It's kind of somewhere in there a mix. It does have that kind of effervescence of a seltzer.

[Matt]

Nice and sparkly.

[Joel]

Yeah. And it's got kind of those. Those fruited undertones. And I, like. I'm not usually a huge fan of ginger, but it's just got enough ginger in it where it gives a little zip to go with, I think, the.

[Matt]

Fruit, like, the tiniest little bit of heat.

[Joel]

Yeah. And so I think I liked it. Even though I would say it feels like a super light version of a beer. It wasn't quite what I was expecting.

[Matt]

I love the color of it. The color, like, it totally makes me think of both pear. Like, you know, when you, like, bite into a pear, it's got, like, this nice, fleshy, like, barely, like, maybe like, the tiniest bit pink kind of color to it. It looks like that, but it also looks like candied ginger. It's YDFM that we used to get, like, the candied ginger from there. I don't think we've ever. We've gotten it since. Wait, do they sell that at Costco? No, I'm thinking of mango.

[Joel]

Oh, we get the mango.

[Matt]

You got the mango.

[Joel]

Mango.

[Matt]

No, we used to go to this international market, though, that had this candied ginger that. This exact color, man. And so I guess I've got that on my mind. And because of that, this makes this taste totally legit. Not normally a combo. I'm not getting as much black BlackBerry personally.

[Joel]

It's there, but no, I think I can see why you say that.

[Matt]

Not normally a combo or flavor profile that I go for. But, yeah, I liked it.

[Joel]

I know. Yeah. When I saw that listed, I was like, that's kind of random trio there to stick in this beer. But I think it's all working together. It works, again, better than I thought it was, even though it didn't taste like I was expecting. All right, Matt, that's gonna do it. For this episode, we'll put links to some of the resources we mentioned, and there were quite a few today up in the show. Notes on our [e-mail] you know, buddy.

[Matt]

So until next time, best friends out. Best friends out. Joel. We've all got different tasks in life that we enjoy doing. For me, that would be closing out the books on our family's personal finances every month. Nerd. But then there are some chores that are more of a pain, and for me, that would be grocery shopping. Something I try and avoid if at all possible.

[Joel]

Well, that's where Walmart steps in, because their subscriptions help you to stay stocked on the items you use most, whether that's milk and eggs or kitty litter and cleaning supplies. Find everything you need for your home at Walmart, in stores, online, and in the app.

[Matt]

Asking the right questions can greatly impact your future, especially when it comes to your finances.

[Joel]

So if you're looking for a financial advisor you can trust, certified financial planner professionals are committed to acting in your best interest. That's why it's gotta be a CFP. Find your CFP [e-mail].

[Shannon Schuyler]

In a world of economic uncertainty and workplace transformation, learn to lead by example from visionary C Suite executives like Shannon Schuyler of PwC and Will Pearson of iHeartMedia, the Good Teacher explains the great teacher inspires don't.

[Joel]

Always leave your team to do the work. That's been the most important part of.

[Matt]

How to lead by example.

[Shannon Schuyler]

Listen to leading by Example executives making an impact on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.