Brian Preston (2:56)

Well, and that leads to the point that you guys are financial mutants. Here you are sitting here watching a financial content show. I mean, so you're not average, you're not media. That's right. You guys want to know, hey, where am I? Am I ahead of the curve? Behind the curve. Exactly the things Beau said. But we need to actually get you the data points. And I got to tell you, I'm so excited to share that. This is the second annual Financial Mutant service.

Bo Hansen (3:20)

That's right.

Brian Preston (3:21)

Because, you guys, we need your help. We really do perk up. I need your help on trying to make sure we know the data points so we can create great content to motivate as well as to help you know exactly where you are in the process.

Bo Hansen (3:34)

And here's what's awesome, too. We know that a lot of you helped fill out the Financial Mutant survey last year, but things have changed. Obviously, we're a year further along. And so we wanted to see how have our financial mutants changed and how do our financial mutants stack up relative to the average American and even relative to our wealth management client so that you can have a good barometer if you want to consider, like you hear all the time, you know, you were the sum of the five people that you spend the most time with. Well, a lot of you spend Every Tuesday at 10am here with these folks. And so we want to answer the question, okay, where are our financial mutants? What do they look like? How do they behave? How do they view money? How do they make financial decisions?

Rebecca (Creative Director) (4:13)

And.

Bo Hansen (4:13)

And we want to create content that can be valuable for you to hopefully help you impact and change your future financial life.

Brian Preston (4:20)

I'm going to go ahead and open up the curtain. You know, last year was the first year we did it. And if every one of you did it, do it again, please. Because it's kind of like if you get a brand new model year of a car, they always say, don't go buy that one because it was the first year. So there's going to be some quirks. And we found that when we were trying to do content last year. Some of the data points, when we tried to compare it to our millionaire survey, to the financial mutants, since it was the first year, we didn't have it all figured out.

Bo Hansen (4:44)

That's right.

Brian Preston (4:45)

But we've already, we've already kind of started figuring out what were the things that we wish we could have improved from last year and what are some multiple content ideas that we can go ahead once we have the data that we can hit the ground running with it. And that's why we really do need you to fill out the information so we can get the up to date data. And then we're going to pay you back three, four fold by actually creating multiple episodes and content from the data. But we need your participation to make it work.

Bo Hansen (5:14)

So what do you need to do? You need to first complete the survey. You can go to moneyguy.com survey. It will not take a ton of time and it's going to be incredibly valuable. And what we're going to do is we're going to bring all of that information and it's all going to be completely anonymous and we're going to compile it by a number of different bands so that we can create super interesting and compelling content. And based on your responses, we're going to then shape the show. We're going to then turn this into, just like Brian said, multiple pieces of content so that it will be as valuable as possible for you. Because we believe that there is a better way to do money and we also believe that a number of you are doing money better. And we want to be able to broadcast that out to the, in financial, to the entire financial world so that we no longer measure ourselves against the average American, against the median American. We want to begin saying, okay, what do financial mutants do? What are the people who look at money a little bit differently? What do they actually look like? How do they behave? How do they treat the, how do they treat their financial decisions?

Brian Preston (6:16)

Well, it's even more important in the fact that we reshaped even how we're doing our millionaire survey so that these things integrate better. Because we wanted to know what your specific kind of pain points were. What are the things you struggle with? How can we put that in context with our millionaires so you can kind of focus on those pain points, see where your progress is and then also have the experience shares of how you improve and give content that actually accelerates your journey. So that's why this is a twofold factor that we've, we've modified our millionaire survey. We've now modified this. We just need to get the content so that we can fill in the blanks.

Bo Hansen (6:53)

And here's what we're gonna commit to you. If you go fill out the survey, if you do this, we, we're going to notify you as those pieces of content go live. So you're not going to have any question, okay, when is it happening? What's happening? What's it going to look like? You are going to know. If you are a survey participant, you will get a special notification from us letting you know. So if you've not done it, go to moneyguide.com survey or go bookmark moneyguy.com survey to fill it out after this live stream so that we can collect your data so that we can share the good news of sound financial management with the rest of the financial world.

Brian Preston (7:25)

This is going to help us change and shape the financial world. That's what I've always loved, is we've created, created this movement, is that you guys have always been so willing to step up, participate and help us out. Because I think you can see the heart of educators that we have is we really do want to pay it forward with good content. So moneyguy.com survey and if you think.

Bo Hansen (7:45)

That we are not impacted and changed by you. I just saw a great question come through the chat that I totally forgot to mention. It says, when does this survey close? I forgot to mention that this survey is not going to be open indefinitely. We're going to leave it open for two weeks. Two weeks, Remy. We're going to leave it up for two weeks so that we can collect the data. Once the survey closes, we will then begin compiling it all to prepare that content. Because we love getting to do this. We love getting to sit in this spot and provide information that's valuable for you guys. But we also love hearing from you, not just on the survey, but also Every Tuesday at 10am when we do this live chat, we want to know what are the things you're curious about, what are the things we can weigh in and what are the questions that, that we can speak to that might help you on your financial journey. That's why we show up here to do this. So if you have a question, there's something you want us to weigh in on, make sure you get it in the chat. Right now we have the team out in the wings collecting these questions and we want to load you up. So with that creative director Raby, I'm going to throw it over to You?

Rebecca (Creative Director) (8:46)

Yeah. Super excited. We've got some questions lined up from the chat. The first one is from Amber.

Bo Hansen (8:51)

Hi.

Rebecca (Creative Director) (8:52)

It says, according to the foo, I should stop my Roth IRA contribution in order to build up my emergency fund. I struggle with the idea of missing out on time in the market. How should I handle that financial anxiety?

Bo Hansen (9:07)

Well, I think you one, I love it. And it's weird for someone to say, hey, I love that there's financial anxiety there, but it is a sign that you are a financial mutant. You've recognized, hey, I thought that my financial order of operations was going to be the straight line. I thought I was going to go from 1 to 2, 2 to 3, 3 to 4, 4 to 5, so on and so forth. And yet some things have happened. And now based on where I am in the foo, I've got to go back. My line is not a straight line from bottom left to top right. It's a little more up and down, it's a little more zigzaggy. But I have some tension. I don't want to go back to step four. I don't want to stop doing Roth ira. I hear you guys preach all the time how valuable time in and it makes me feel anxious. What I'm telling you is that anxiety is a good thing because what it should hopefully motivate you to do is as you go back to step four, you're going to do everything in your power to fill up that emergency fund bucket to make sure that you get that fully funded, three to six months of living expenses so that you can get back to step five and maxing out that Roth IRA as quickly as possible.

Brian Preston (10:11)

Yeah, I mean, my answer very much falls right into what you were just sharing is that I think you turn anxiety is really, in a lot of ways, it's your brain trying to protect itself that's engaging that fight or flight harness the same power. And the fact that, yes, this is also going to make you laser focused. You mentioned that you were worried about missing out on that key component of time. You're exactly right. That key component time is number three on the three ingredients to wealth, and it is the most valuable one. But I would tell you the way you're going to overcome this is with laser focus on those first two ingredients of the wealth creation. And those ingredients are discipline. So use that power of anxiety or that fear that you're not getting enough money into the Roth and you're missing out to hyper focus on how do we lean into the discipline that leads to the second ingredient which is create the margin by living on less than you make, by doing those drastic things in your life to create the money that will help you build up, to get through step four and build up the emergency reserves. And then you'll get back to step five and now you'll know you're sure footed because the whole thing with the emergency reserves, you don't want to be caught making desperate decisions all because you were just trying to load up the Roth. We love the Roth. I mean, we've told you it's our favorite child of investment structured accounts, meaning between taxable, tax deferred, tax free Roth. We love the Roth accounts, but we got to make sure you're not out there swimming naked and taking on too much risk but not having emergency reserves.

Bo Hansen (11:43)

But let me give you just a little bit of hope because Roths are unique in that they are one of the very few, what we call time machine investment vehicles, meaning they allow you to go back in time. So let's suppose that right now you have to shut down your Roth contributions and between now and the end of the year you have to build up that emergency fund. You're trying to get to that three months or trying to get to that six months. And so, yeah, you're missing out on those Roth contributions. Well, one of the things that you can do is even if you don't max out your Roth for this year, for 2025, you actually have until the tax filing deadline next year to make contributions for this year, up until April 15th to contribute for 2025. So if you can race and maybe you get a year end bonus or you get overtime, or you get, you know, something in your circumstance changes, or maybe you just really flex that discipline muscle and you get caught up by the end of the year, you still have an extra four months, three and a half months to be able to fund that Roth for last year. So you might not actually miss out at all.

Rebecca (Creative Director) (12:42)

Great. Well, Amber H. It is your lucky day because today is a Tumblr day.

Brian Preston (12:46)

Oh, I thought so.

Bo Hansen (12:47)

So, quack, quack, quack, quack.

Rebecca (Creative Director) (12:51)

Lest you thought that was a duck, that was actually a Transformer. Okay, I'll do it for noise.

Brian Preston (12:57)

You know, trying to do it more. The Transformer.

Rebecca (Creative Director) (13:00)

Yes, I do speak, Ryan, and can translate.

Brian Preston (13:02)

That's a slow motion version.

Rebecca (Creative Director) (13:05)

The Tumblr in question that we would love to send you, Amber, is both a tumbler for your hot beverages and a koozie for your canned cold beverages. So transform. That's what that's about. But just email winneroneyguy.com if you would like to get a Tumblr Amber.

Bo Hansen (13:21)

You know what Amber should do after she does that?

Rebecca (Creative Director) (13:23)

Take the survey.

Bo Hansen (13:24)

She should go to moneyguy.com survey and make sure that she fills out the financial meeting survey.

Rebecca (Creative Director) (13:30)

Wonderful. All right, next question is from Chester. When considering the potential for early retirement, how do you determine if and when you should focus on after tax accounts over Roth or pre tax accounts?

Bo Hansen (13:48)

Well, how do you determine if when? Let me start with the if and then we can talk a little bit about the when. Right. So all of our accounts are treated a little bit differently in terms of how they're taxed and how they operate and what types of investments it makes sense to hold in there. Well, one of the unique differences in retirement accounts and after tax accounts is when you get to access them. So for most retirement accounts you think about IRAs or 401ks or 403. For most of them, you can't really get access to that money until you're 59 and a half, meaning you have to be past that age in order to be able to pull your money out and not pay an early withdrawal 10% penalty. Now there is a caveat. If you are working for your employer in the year that you turn 55, you can actually access your 401k dollars at 55. But even that, if you're planning on early retirement at like, you know, 50, 50 to 53, you're not going to get access to those dollars until you get that 59 and a half. And so if you're someone who's planning on retiring before then and you don't have pensions that kick in early or you don't have some other income source, you're going to start answering the question, okay, well how am I going to bridge that gap? How am I going to provide for my living expenses from the time that I stop working, leave the workforce until I can actually access these assets penalty free. So if you begin discovering that and figuring out that that's you, then after tax may indeed be something that's the if you need to start building. If that describes you, then you may need to start building those after tax assets.

Brian Preston (15:21)

Well look, we've got an all terrain multipurpose financial order of operations. Go to money.com resources, download this and let me explain why this is a step number seven question. But you don't have to kind of get off the track of steps 1 through 6 until actually after you've loaded up, max out retirement and why can I say that is because somebody who's going to retire at 50, you're going to have to be saving enough to max out the retirement, because it's not like you can put $5,000 a year into retirement accounts and then you expect to retire at 45 or 50. You're going to have to be a hyper focused, very vigilant person who's obviously got a big aggressive goal. So you're doing big things. So that's why steps one through six, if you think about steps one through four, is helping get the free money, help having, you know, emergency reserves to keep you from making desperate decisions, avoiding the high interest debt. That's when you get to steps five and six. These are the tax favored type of accounts that you just don't want to sleep on those benefits that the government's offering you. But then you get to step seven and it does tie in exactly a lot of the things Beau was talking about. This is the first step where you say, wait a minute, everything I've done is to keep me out of trouble or to maximize the moment or the tax code. Now step seven is how am I gonna use this money? How am I gonna actually go get access to it and use it? And that's why we tell people that's where you'll start. Essentially, 3D glasses doesn't have to be starting a new business. It can be 3D. Put on your 3D glasses for a big change in your life that's coming up financially. And that's where I always tell people, start doing models. I mean, that's what we do for clients is that we start working through the fact of, hey, tell me your scenarios. What's the dream of what you want to live in retirement? That's the first D. And then we say, okay, now tell me what you think will actually happen. The down to earth plan. And then last, we always say, don't skip out on the do do plan. You know, things might not work out like you're anticipating. So I always say step seven is that phase where we start doing models. We start looking at how you'll use this money and it will start to reveal itself to you. Because if you know you're retiring at 50 years of age and Bo's already shared with you, the 401k is not going to help you because it's 55. If you depart work at 55. So if you leave at 50, you've already blown that up. That's right, 59 and a half. Yes. You can do 72t where you can annualize or annuitize your retirement accounts. That's an option, but that's a step seven function. You're going to figure that out when you're trying to figure out how I'm going to get access to and you're going to start realizing, man, I might need a bridge account. I'm going to need something to help me build that. And that's when you'll say, okay, I love all the tax favored stuff, but it's probably instead of doing deferred comp with my employer, maybe I'll start just loading up that after tax account. But you're quickly probably going to start realizing this gets complicated because when we get to this level of assets, also we're probably definitely thinking about seven figure thresholds. And that's why I tell people we do this hundreds of times for clients every year. Why would you do something only one time and expect to be an expert on it? So, you know, this might be an opportunity to take the relationship to the next level.

Bo Hansen (18:36)

I love it. One other thing I'm going to throw out for you, Chester, just because I think it may be valuable and we're going to see how good our team out in the wings is at getting this link together. We did a show, I don't know, maybe it's a couple of weeks, a couple months, couple of years. Time kind of moves around here. Titled ways to retire early that you may not have heard about. 3 Ways to Retire early that you may not have heard about, that you may know about. We'll put a link in the chat. That's something to go check out. If you are someone who's thinking about retiring early, thinking about leaving before those traditional timelines, there are some options and opportunities available to you to hopefully answer the question when or if I should begin saving in that after tax bucket.

Rebecca (Creative Director) (19:18)

Awesome.

Bo Hansen (19:18)

Well, Chester got the link in there. That's how fast they are. You impressed?

Expedia Narrator (19:22)

Boom.

Rebecca (Creative Director) (19:23)

Be impressed. Chester, thank you for your question. If you would like a money guy Tumblr, just email winner moneyguy.com you know.

Bo Hansen (19:31)

What Chester should do after he emails? Winner at money?

Brian Preston (19:33)

He should go to moneyguy.com survey.

Rebecca (Creative Director) (19:36)

Yeah, you should. I completely agree with this, by the way. I just, I'm worried you're gonna do that every time.

Brian Preston (19:43)

This is gonna be some echoes in here today.

Bo Hansen (19:45)

Well, a lot of people don't show up at the beginning, beginning of the show. I don't want to miss it. You know, if you come in halfway in, I want you to know that we want to know about you. We want you to take the survey so that we can get your information in there.

Brian Preston (19:55)

Yeah, I mean, last year, because I do want everybody to see why. Why are we so motivated on this is because I saw last year the potential of this for the content, because you guys were overwhelmingly good at helping us do this. Now I feel like we. We've lined it up even better. And I just want to see this continue to make process progress. And that's. That's why if you really helps us out when you help us have good data so we can do good content.

Bo Hansen (20:20)

Love it.

Rebecca (Creative Director) (20:21)

Love it. Next question is from Grayson. It says, once I have a fully funded emergency savings, how often should I check back on that number and how much is smart to keep in a checking account? So it's a little bit twofold. So once you have your emergency funds there, like, what's next? Because obviously, things change, things happen. What do you think?

Brian Preston (20:41)

Well, I think I'll let you answer, Bo, but when he says checking, it's probably because most checking accounts don't really pay anything. But that's going to be your clearing it out account. So he's trying to figure out how you structure that versus emergency reserves. We think like financial mutants. We're trying to load those up and actually make something like a high yield savings account. How would you balance those decisions?

Bo Hansen (21:01)

Yeah, so I run what's called a two account system. Got checking account, savings account. It's not really savings accounts, high yield money market mutual fund. But what I do is I take my emergency fund and I put it in the high yield account. That's my three, six, whatever my number is, that's what I put in my emergency fund savings. But then I do have inside of my checking, I just call it a slush fund. And that's not like a great name for it. But what I want to make sure happens is that I never want my checking account to get too lean because I don't ever want to run the risk of an overdraft. An overdraft or a check that maybe didn't get cashed quickly or a erroneous Venmo payment or whatever the thing may be. I want to make sure that I keep enough in there to really float between one paycheck to the next paycheck. And so that way, if I keep that margin in my checking account, I don't really think of that as cash savings. I just think of that as more like this fluid liquid amount that hangs out in there so that I'm not having to constantly pull money in, put money out of my emergency fund. Now, I thought the questionable different I thought I was asking how often should I check it? Like was that the. Did I hear that right? Was the first part of the question, how often should I check that number? Okay, so make sure I got that. So how often? I'll tell you. I'm going to answer this question. I'm going to answer with no less often than annually in my opinion because one of the things you ought to do every single year, again this is my opinion is you ought to be doing an annual net worth statement. It's one of our most favorite things in the entire world to do. We do it every year right around January 1st and it's so fun. Well, if you're doing it and you're consistent on that, one of the things you're going to notice especially if you use our tool@learn.money guy.com is you're able to track your cash. You're going to see it right there. This is how much I have in cash and cash equivalents. And every year that you type that number in, you put that in there. You ought to think to yourself, you ought to do some mental accounting. Okay, what's my monthly burn rate? Has it increased since I did this last year? Man, I used to spend $3,000 a month, but holy cow, now is spending $5,000 a month. I probably need to increase my emergency fund and that's. That serves as a natural time to go ahead and begin thinking about that. Would you do it more frequently, less frequently? How would you think about that?

Brian Preston (23:15)

Well, I would use there's several things that immediately popped in my mind is that first of all in Millionaire Mission if you haven't checked out my New York Times bestselling book in chapter when I on the chapter over step four on emergency reserves I actually cover because you got to know thyself. Are you a one account type person? Are you a three account cash person? Because people do things differently. Like young when I when I walked around and I talked to other financial advisors, some of my younger advisors who are more with the times they had their savings account with a high yield savings account but also was their checking account so they could create a system with since they were using one company to where they had overdraft protections and also even some of these high yield savings accounts online banks also offer some type of it's a lower yield but it's still some yield on checking. So that's the first thing that I I would try to figure out on. On the account structure. Meanwhile, I wanted because we have multiple businesses, we have real estate. I wanted a bank down the street that I could walk to because I have a lot of transactions that I need to do in person stuff with. But then I have the high yield. So I have to have those things communicate. And that does require the where I have to actually. And that's the crux of the way we both answered it. I do have to take an analysis and I look at what I do is every look it is once a year type thing. But if you notice on a month to month basis because you should be at least looking at your accounts every month. If you notice that the cash is starting to stack or it's getting way too lean, that probably is an indicator that your cash flow has got some signs of struggle or you're keeping too much in your checking account. So I use that as kind of a system, a pool system. You could call it a just in time inventory system for my cash is that I'm always trying to pay attention to what does it look like on a month to month basis. Am I cutting it too lean because maybe there's a one off cash flow, property taxes were due. Now that I've got a paid off house. How many things can I stack in this answer it is one of those things where I let that type of stuff because there's always going to be one offs that are going on for every one of you guys out there. So I look at it on a monthly basis. But I do think Bo is right that you can set the parameters in a big way. Probably annually as you do your net worth. But. But you still need to be a very active field general on your army of dollars to know what's going on a month in month out basis.

Bo Hansen (25:47)

Love it.

Rebecca (Creative Director) (25:48)

That's great. Grayson, thank you for your question. I hope that that helps you think.

Bo Hansen (25:52)

Through it or change of circumstances. This is just an obvious one, but you ought to reassess it. If you get married, you get unmarried, you move, you change any big life event you ought to go revisit and think through your emergency fund.

Rebecca (Creative Director) (26:08)

Absolutely. I'm glad you added that you like.

Bo Hansen (26:10)

Paying off a house or if you.

Brian Preston (26:12)

Have a big life event, you happen.

Bo Hansen (26:14)

To be in your early 50s and you just do not like that two and a half percent mortgage and you just need to pay it off. You don't do.

Rebecca (Creative Director) (26:19)

You don't get to do with him paying it off.

Bo Hansen (26:25)

I encouraged him to do it. It was the right decision. I'm on his cruel.

Rebecca (Creative Director) (26:29)

You guys are funny. Oh, Grayson. If you would like a money guy tumblr, email winneroneyguy.com and we will get one sent out to you since we answered your question and you should go fill out the survey@moneyguy.com survey, but you really should. I just feel ridiculous saying that ever over and over, but I can't not. Okay, Brandon F. Is up.

Brian Preston (26:50)

That's a good campaign when you say the same thing over and over.

Bo Hansen (26:53)

That's right. It makes it stick. Yeah. Like a content team. I know this. Isn't there something like you have to hear something so many times before you're able to commit it to memory?

Brian Preston (27:03)

It's like six times.

Rebecca (Creative Director) (27:04)

Yes.

Bo Hansen (27:05)

Seven and a half.

Rebecca (Creative Director) (27:05)

Seven and a half.

Bo Hansen (27:06)

Is it really a half? You have to hear something seven and a half times. I don't think we've answered seven and a half questions, so we ought to keep doing it.

Rebecca (Creative Director) (27:13)

That's okay. Well, we've got a question queued up from Brandon F. He says, me and my wife got married last month. We are 27 and 25 years old. Congratulations. And only consumer debt is a car loan at 13k at 8.5%. Should we sell positions in a taxable account to pay this off sooner?

Brian Preston (27:38)

Ooh.

Bo Hansen (27:39)

Ah, Spicy question. So. So you may be thinking to yourself, Brandon, man, oh, eight and a half percent is pretty high. And generally speaking, I would agree with you. Right. However, we have come to this unique market where auto loans were in a very unique place. And so one of the things that I would encourage you and your bride to rethink about is. Okay, as we did, as we went through this exercise, did we follow 23 8? Meaning when we bought this automobile and we took this loan on, did we put 20% down? Did we finance it for less than three years or 36 months? And if we look at the monthly payment, is it less than 8% of our monthly gross income? If that answer. If the answer to that question is yes. Now, this may be a hot take for financial mutants, but it's a take that we have when it comes to auto loans. We would not consider for someone in their 20s auto loan interest below 10% to be high interest debt, believe it or not. Because we do believe. We know if you go to moneyguy.com wealthmultiplier, you put your dollar into the wealth multiplier and see what it can turn into for 25, 27 year old, you're gonna see how powerful that money can be. And if you're following 23, 8, you're already on a path to rapidly and quickly extinguish that 8 and a half percent car debt. I would hate to think about you taking some soldiers out of your army of dollar bills to go satisfy that when you already have a plan and a path to do that in your 20s.

Brian Preston (29:15)

I agree with that. I would.

Bo Hansen (29:17)

Didn't know where he's going with.

Brian Preston (29:18)

With an asterisk, though, because it's. This is the personal and personal finance. We don't know how big Brandon's accounts are.

Bo Hansen (29:25)

Sure.

Brian Preston (29:26)

And since they just got married, we also don't know the disparity between the accounts. One, one of the spouses could have, like, been a squirrel and sitting on $200,000 because they're just stacking it in the background. Meanwhile, the other one had to go do this car loan because they, they just didn't have any money and. Or didn't have it. You know, it didn't build up in the same way. So that's the part where it would. I would say there's a little flavor there since you've consolidated your assets now. And it is an eight and a half percent, which I get it. Yes. If you're doing 23 eight and with these crazy interest rates we have out there in the marketplace. But remember, 23eight is supposed to help you be the bridge to get good transportation, reliable transportation, so you can get to your job. Your job, which is probably going to be one of your first building blocks to creating wealth. But now that you all have got this consolidated family and financial situation, if you are sitting on a big chunk of assets and maybe you look at your brokerage account and you say, hey, yeah, I bought this silly stock because I was just chasing financial trends. There's actually a little bit of a loss there. Or it's. It hasn't made any money and, and it's not really. It doesn't tie into the financial order of operations the way Brian and Beau talk about things. I'm not gonna get mad if that's the case either. But if you. But you're spot on. If somebody is just now at the beginning of their starting blocks, then I can see why that. But we just don't. We don't have enough data to conclusively say that's what's going on.

Bo Hansen (30:55)

I'll accept that. That's okay.

Brian Preston (30:57)

I always like to put a little more meat on the bones so that. So people, no matter where they are, if they're at the beginning of the journey, they kind of got the answer. But also if they are somebody who's, you know, now navigating, consolidating two households into one and this might be an opportunity to knock it out potentially, they're ahead of the curve.

Bo Hansen (31:15)

Look, this is a good time to disclose this. We have a bias. We don't like car payments. Like, we just. That just. We do not like car payments.

Rebecca (Creative Director) (31:26)

I mean, who does?

Bo Hansen (31:26)

Right? So, like, even if you really don't like, a lot of people get preferred.

Brian Preston (31:30)

Way to buy cars with cash even.

Bo Hansen (31:32)

I'll even have people who start 238 and they're like, ah, it's just grinding my gears. And I'm like, okay, yeah, pay it off.

Brian Preston (31:37)

If.

Bo Hansen (31:38)

If you have the. If you have the means to where it will not detrimentally detract from your other financial goals, pay it off. You don't have to stick to 36 months. And if you're ever. If you're averse. Adverse averse. If you don't like car payments, then you just averse. It's okay to get rid of them. What's adverse.

Brian Preston (31:59)

Adverse is like a reaction.

Rebecca (Creative Director) (32:00)

An adverse reaction. Yeah.

Bo Hansen (32:03)

Adverse, averse to carverse.

Rebecca (Creative Director) (32:06)

To something.

Bo Hansen (32:06)

No, I have an adverse reaction to car payments. I think.

Brian Preston (32:09)

Yeah. No, Remember, that's why I was trying. You caught on with what I was laying down is that the Inside intent matters. 23eight was designed so. Because we have a no hypocrite policy here. And I didn't want that. I had to go borrow money to get my first car. And it just. You know, there's other people out there. They'll say just pay cash. I mean, I had a thousand dollars, I think, when I was coming out with my first job. And there's funny songs out there that you guys have sent me of YouTube videos with which type of car you get for $1,000. And what that actually, that might be more heartache than actual reliable transportation. So we tried to create a rule. But if you got assets, I mean, I do like it being. That's why. That's why I threw that caveat out there is because if you're sitting on assets and you got an eight and a half percent. Yeah. I mean, let's. Let's figure out where we are with this.

Bo Hansen (33:02)

Sitting on substantial assets. If they. 15 grand in the brokerage account. I don't want them to cash that out.

Brian Preston (33:09)

I don't want them to clean their. Because it's back to the. No hypocrite. You don't want them cleaning out their emergency reserves to do this. But if they're sitting on large brokerage accounts, sure. Big. I would be upset that they're paying eight and a half percent.

Rebecca (Creative Director) (33:21)

Yep, there you go, Brandon. I hope that helps. And we gave them like every facet.

Brian Preston (33:28)

I mean I feel like if we were drawing a map, if this was like an NCIS or a csi, I mean we, we drew strings on every one of the scenarios.

Rebecca (Creative Director) (33:36)

He's got to be able to follow one of those strings to get some helpful information about his question. I do believe that. So Brandon, if you would like a money guy Tumblr as a thank you for asking the question today, just email winner moneyguy.com and don't forget to go to moneyguy.com survey while you're there and take the survey because we're going to make some awesome content off of it.

Brian Preston (33:54)

We got to be up to like six times now. So that's pretty good.

Rebecca (Creative Director) (33:59)

Eric B. Has a question. It says what is the best way for a 34 year old who is far behind what your net worth recommendations are to catch up to where they should be?

Brian Preston (34:12)

Get to it.

Bo Hansen (34:14)

Yeah, the end. That's a great. You're not wrong. Let's explain why. When it comes to building wealth, when it comes to moving towards financial independence, we generally believe that there are three key ingredients. There is discipline, there is margin or money. And then there is time. And what happens is the way that financial wealth building works is that if any one of those are squeezed, the others have to be increased. Right. If I have a scarcity of this ingredient, then I might need more of this ingredient. And so in your situation, eric, if you're 34 and you feel like you're behind, by the way, it's really hard to be behind at 34 because that's super, super young. You still have tons. But if you have assessed, hey, I'm behind and I don't have as much time as my 24, 22, 20 year old self, then you might need to figure out how do I impact and affect the other two ingredients. How do I become more disciplined? How do I spend less so that I can save more or how do I create more margin? How do I increase my income? How do I add a side hustle, how do I add a side gig so that I can begin saving more? And I think if you think about it through that context, it'll help you begin to make strides towards catching up if you're actually behind.

Brian Preston (35:29)

Well, and that's why let's give you a resource. If you go to moneyguy.com resource what 25% can do for you. It's actually, it's got a better name than that. It's find out how much you need to save. I mean, look at this. This makes Beau's point exactly. Because you see, for a 20 year old, 10% is going to do a lot. That's right, because you have an abundance. You're a billionaire of time. We go down the chart and we look for a 30 year old, okay, now 10% is not going to do it. You see, that's why we have it color coded as red. So we go out now, oh, what do you know? And for this, Eric, you said he was 34. 34. So we just go down to 35. We'll go and round it up to you. You're older, you can see 10% is going to take you at 33%. That's not going to be a great retirement. You can see 20% is only going to get you 67%. What do you know though, there's that 25% that we're always talking about gets you close to an 84% replacement ratio in retirement. Ding, ding, ding. Now you can use this as motivation on why this is important. So if you're listening to this and you're like, where is Brian getting these numbers? Like I said, go to moneyguy.com resources and then we have this. How much should you save Deliverable that you can go play around with and see exactly how much you need to be saving and investing to replace your back, your brain, your hands so you can let your army of dollars see the hard lifting for you.

Bo Hansen (36:48)

Can I, can I also just throw out one other thing? I'm just so curious because I always, I hate young people feeling like this anxiety around like, oh, I'm behind. I'm, I'd be curious to know which metric you're measuring by because like we have a few rules, right? One of the rules is that you should have by age 30, you should have a net worth equal to 1 times your annual salary. And then by the time you get to 40, I think it goes to three times, right? So maybe you've done some like linear math to figure out where you are at 34. Perhaps that's what you use. Or maybe you're using the formula in the Millionaire Next door which says I want to take my age times my income and I divide that by 10 and that tells me where I should be to be an average accumulator of wealth or if I were to double that, that's what it would take to be a prodigious accumulator of wealth. One of the things that you always said, Brian, is like, man, this formula is great, but it doesn't do justice for young folks.

Brian Preston (37:40)

For people under 40.

Bo Hansen (37:41)

For people under 40, it just, it's too. They haven't had enough time for like the hard work to be in the.

Brian Preston (37:45)

Building, close to the starting line.

Bo Hansen (37:46)

And so what we did is we adjusted the formula. Touch. So if that is the formula that you're using to arrive at the conclusion you're behind, think about this adjustment. Take your age times your income and then divide it by 10 plus the number of years until 40. So in your case that'd be 10 plus 6. So your denominator would be 16. So age times income divided by 16, that will tell you where you should be to be an average accumulator of wealth. You could double it to be prodigious. See if that gives you a little bit more wiggle room to think, man. Now. Okay, one last thing. I'm sorry to be dragging this on, but this is important.

Rebecca (Creative Director) (38:21)

If it's good, it's good.

Bo Hansen (38:22)

Maybe you've decided you've like B.O. that's the formula. I did, I did it, I did it. But all of a sudden this year you got a big promotion, big pay raise, something changed. Now you have this big income that was not the income that you had over the last two, three, four, five years. It's okay to smooth that income. Okay, what's the average income I've earned over the last five years? I'm going to use that number to assess. Am I where I'm supposed to be? Am I doing the things that I'm supposed to be doing? Because I just hate for a 34 year old to think, man, I'm behind.

Brian Preston (38:49)

The eight ball and be kind to yourself. I mean, that's the thing we showed at the beginning of the show with the median by age for the typical American, the fact that you're watching this as a 34 year old, you're doing the right thing. So I'm very committed that if you're leaning in and you're paying attention to going to moneyguy.com resources, you're reading Millionaire Mission, you're focusing on this, you're going to be okay. And that's probably a great segue into also saying make sure you go to moneyguy.com survey so that we can also know what you have going on. So that can help give a little flavor to our financial mutant survey as well.

Bo Hansen (39:28)

David, in the chat again. We read the chat in real time. Just said hey, where's the survey link at? It's@moneyguy.com survey if you were curious to know the answer to that question.

Brian Preston (39:36)

Thank you David for asking that.

Rebecca (Creative Director) (39:39)

That's great.

Brian Preston (39:40)

And Eric B, thank you for your question too. And guess what? You'll be rewarded by creative director Rebecca with a tumbler.

Rebecca (Creative Director) (39:48)

Tumbler or a koozie transforming into a tumbler or koozie.

Brian Preston (39:53)

I use it in the koozie format. You do?

Rebecca (Creative Director) (39:56)

Eric, email winneroneyguy.com if you would like a Tumblr Koozie combo.

Bo Hansen (40:01)

You know it's interesting it can be used as a koozie as evidenced by Brian. I'm a soft koozie guy. Like I don't like. There's something about like having a hard, a hard drink in a hard.

Rebecca (Creative Director) (40:12)

I love it as a tumbler. That's my preferred.

Bo Hansen (40:14)

I'm a. I'm a. I prefer when.

Brian Preston (40:16)

People say a hard drink like a can.

Bo Hansen (40:19)

Like. No, I meant like like a can.

Brian Preston (40:24)

That explains a lot for BO. I thought it was Brian. Wow. Hilarious.

Rebecca (Creative Director) (40:30)

Oh man. All right, ready for the next question?

Brian Preston (40:34)

Yes ma'. Am.

Rebecca (Creative Director) (40:35)

C A S says I'm worried about a market crash.

Brian Preston (40:39)

Oh.

Rebecca (Creative Director) (40:39)

Would CDs be a good investment if the market is volatile?

Brian Preston (40:44)

You know, I grew up in a household where the only investments my parents knew were CDs. The problem with CDs now look, they're great. Well, great might even be too strong. They're a cash equivalent. So if you're thinking about steps one and four, CDs is something you can consider. I'm not saying that's what you should do, but it's an option. But it is an option. The problem I have with CDs is that they're basically just going to keep you at inflation or a little less than inflation. Whereas in the long term we need you to let your army of dollar bills actually start doing some work for you. And I've shared the story that my f in law, I look at his behavior compared to my own parents behavior on investing versus just building up CDs and it is a tale of, you know, you're talking about rich dad, poor dad. I mean because my father in law now he was not rich. But it is amazing what putting just a few hundred bucks a month into the Fidelity Magellan back when Fidelity Magellan was the thing to do turned into multiple six figure portfolio versus my parents super disciplined, never were bad with money. But just Never had enough of it, that it just never got traction because they were just keeping up. And that's what everybody talks about, this disappearing middle class. And what do you do? We're two guys that come from not much. And one of the first things I realize is that you've got to, if you're going to fight this system of inflation and other other things that are, are going to make your money diminished and not worth as much, is you got to start owning stuff and start making stuff work for you because at some point you're not going to work as hard. So we've got to fill in. How do we fill in the void so you don't have to work so hard? How do you own your time that much sooner? And the way you go do that is by, by getting into investments and things that can grow greater than what you're doing with cash.

Bo Hansen (42:48)

Now there are two. So you said, I'm nervous about a market crash. I'm, I'm, I'm. If the market's volatile, should I begin doing CDs? There are two illustrations. I don't know if our team has them, like ready to pull up, but I'm going to kind of describe both of them. Get them up. That'll be awesome. One is an illustration. It was normally it's done annually by First Trust. That shows bull markets versus bear markets. And it shows, okay, if there is a bull market, how long does it last and how big is it? Like, how much money does it make? And then it compares that to, okay, if there's a bear market, a downturn, how long does it last and what's the gravity of it? How down does it go? And what you see when you look at this illustration is that the bull markets are way bigger and way longer than the bear markets. I mean, anecdotally we say all the time, Brian, every decade you can count on about two down years. So if you're an investor and you have a long time period, you know, 10, 20, 30, 40 years, and you know that every decade there's gonna be about two down years. There's a good chance that if you're trying to avoid it or you're trying to not participate in the volatility, you're gonna fall into the same trap. And I think it was Peter lynch who coined this. He says more money is lost trying to avoid the next downturn than just participated. There it is. You can see if you're looking at the screen, these bull markets are just so much bigger and so much longer and so Much more robust than the bear markets are. And so yeah, there could be a downturn and nobody knows, like me and Brian can't tell you. Maybe the market is going to go down in the next six months, eight months, 12 months, 18 months. We don't know when it's going to happen, but we do know we have a very consistent track record. Then when it does happen, it's often not nearly as bad as we thought. And even when it is bad, there's a rubber band effect that takes place that when it gets back to good, if you can buy through it, and you can always be buying, you can participate in that volatility, you're likely going to be all right in the long term. And we've even shown this, we've done some shows where we talk about what if you were the absolute worst investor of all time? What if all you did is before every bear market? You put all your money to work right before the downturn and you just invested, you know, before the dot com bubble burst and before the Great recession and before fourth quarter of 2018 and before COVID and before 2022. And you went through all these different time periods of investing at the world's worst time. Do you recognize even if you had a 10, 20, 30 year timeline, you still made a lot of money as an investor if you just let that money continue working. That's why we say always be buying. We love folks that are always putting their money to work. I would not be afraid of the volatility. If you're someone who's still accumulating, I would actually be excited about it because it presents new buying opportunities for you.

Brian Preston (45:38)

And by the way, this is the beauty of the financial order of operations. You're still going to have money that's in emergency reserves. So in case, you know, the economy goes bad, you lose your job, you're going to be okay because you've done the work on steps one and four. You're also, this is why we talk about diversification. This is why your plan, how you structure your financial assets shouldn't be reactive when the market goes ugly. Bo said it, you know, two years out of every decade, you're probably going to have some negative stuff going on in the financial markets. You don't need to be reacting to that. You need to have a good plan that's good before, during and even after. That's why we designed the financial order of operations so you don't have to react. You just, you kind of already, you have it. Your all terrain vehicle is going to be okay. It's going to give you peace of mind while everybody else is losing their mind. You're going to have assets and resources like a cash reserves so that when bad things happen, you're okay. That's what we focus on here, cas so you don't have to try to to figure out when the timing point is. Because nobody knows. We don't know. The people who are telling you to buy their newsletter or buy this asset, they don't know. So that's why you got to create a plan that actually will be good before, during and after and reflects your financial life.

Bo Hansen (47:01)

And one of the things, Brian, you always say is when in doubt, zoom out. We have another illustration. I do not think that we have this one on call, but what it is, you can do this research on your own. If you go look at how the stock market has performed, you know, from the Great Depression all the way until now, just look at the s and P500 global stock market just mapped out. What you'll notice is these big cataclysmic downturns. The, the, the 1987 crash, the dot com bubble burst, the Great Recession. When you look at it on a long enough timeline, these things that seem huge and significant and like these massive craters are merely blips on the radar for most investors. And if you can zoom out and have that mindset, it's going to allow you to realize, yeah, it might be painful for 6 months, 8 months, 12 months, maybe 18 months, but over the long term, I would look back and it's just going to be just a little hiccup. That's all it was, that's all it will be. And if you can have that mindset, it's going to give you the staying power to stay invested over the long term.

Brian Preston (48:04)

Always be buying.

Rebecca (Creative Director) (48:06)

Baby, baby. Well, cas if you would like a money guy Tumblr. Thank you for asking the question. Just email winner moneyguy.com all right, J. Thoma has a question for you. A few weeks ago you discussed paying off a house early versus the normal schedule. Can you elaborate on the other side of paying off early? The savings of all the interest paid. Well, I feel like he's kind of.

Brian Preston (48:35)

Pushing back against you.

Bo Hansen (48:36)

All the comments on. Do you see all the people who are commenting on that? Oh, it drives me to. You guys didn't factor in the interest, you guys. Yeah, we did. You look at Turk. I'm sorry, you go, I like this.

Rebecca (Creative Director) (48:47)

It's exciting.

Bo Hansen (48:49)

The comments are firing. You didn't count the Interest, you didn't count. No, guys, we did the math. You got to look at the terminal value. Yes, you may have paid more in interest, but what you earned compensated for it. So if you could pay $1 and get $3 in return, that is a favorable trade off.

Brian Preston (49:07)

This is something that, and I've given the examples and I'm not going to repeat it because it upsets all my, my debt crusaders. Is that I. When you get into this situation. Yes. Now look, I've paid off my house and because I'm over 45 and we've told you, you know, and for those of you who are under 45 and you want to pay off your house, we're not going to be against it as long as you're saving and investing greater than 25% because that means you've made it into something. Step eight of the financial order of operations. If you want to be a debt crusader, go for it. But when we do the analysis, this all comes down to a very basic understanding, is that over the long term, when we say long term, we're talking five to seven years. Historically, there's going to be a delta between what the safe rate of return is and that's where you know versus what the rate of return that you're getting on your portfolio. And that's what you're kind of, you're. And it's overcoming what the interest rate is, you know, so, so that's, that's, that's so the interest is taken into account on that. The other thing I always remind people who are my debt crusaders is they think that they're taking out all the risk by paying off their debt early. But I always remind them you don't get to get the free cash flow from paying off the debt early until the house is fully paid off. Banks are notorious for you getting into financial trouble. You have being way ahead of schedule on paying down your mortgage and then you lose your job, the stock market gets crushed, the real estate market gets crushed and you go, I need money. I need to get, Can I go get a home equity line on this house? No, because the banks aren't lending at this point in time. You don't have the emergency reserves because you paid it all into your house to pay down the debt earlier. You're just kind of stuck. Now look, if you were debt free, yes, now you have the monthly payment that, you know the thousands of dollars you're sending on your mortgage, and now that's additional money you can put forward. But you don't get to go back and get it unless you're able to take debt or sell the property. And I'm telling you, when it rains, it pours. When bad things happen in the economy, they typically happen together. And that's why people who always say well I'm just going to pay down my mortgage, I'm like, yeah, but if you're down to the last $10,000 on your $300,000 house, market value house. And yet like I said, the market's down, the real estate market's down and banks are struggling. They're not going to give you the loan. They're just going to take your house back. And that's why I don't trust look, and I work with a lot of bankers. I'm not trying to pick on bankers, I'm just telling you. But this is the business is that big bank takes little people's stuff when they don't make payments. And we're trying to create a system so that you can navigate. I would rather have the money in the bank or in a diversified portfolio. So I control my situation. If I get into a really dark moment now, I left a lot on the the bone for this whole interest. You're more mathematically equipped than I am. But I'll let you leave answer that part of it.

Bo Hansen (52:06)

I've had time to calm down now. I'd like to apologize for my outbursts immediately. Here's what I would like for all of you to know and I hope that every person who left a comment on that illustrations in here, whenever we lay out these two scenarios, this case study of the person that pays off the mortgage early, gets it paid off and then begins investing versus the person who pays the normal schedule invest some and then pays it off over 30 years. What you have to recognize is that is the exact same cash outflow. They're both spending the same amount of money. Yes, one person pays off his mortgage earlier, thereby paying less in interest. That is a true statement. But if I told you hey person, over the next 30 years you're going to have an outflow of $100,000. I'm going to give you two options. You're going to have an outflow Of 100. In one scenario you can have a paid off house and $300,000 or in the other scenario you can have a paid off house and $50,000. Which would you choose? You're going to choose the one that is the paid off house with the higher balance. That is what we laid out. It does not matter that one paid more in interest because it's the same amount of capital outflow. It is an apples to apples comparison. And one of them ends up in a better situation mathematically because there's an arbitrage between the interest rate that they are paying and between the rate that their investments are growing. That is the simple math of it. So, yes, interest was factored in and even the interest savings did not compensate for Manny outperforming the debt crusader.

Brian Preston (53:46)

Very good. That was, that was good. You brought the emotion around back to the analytics. So because we are going to take some heat. I just like because the debt crusaders. Yeah, crusaders get, you know, very emotional and I get it. I understand. We all like to pay debt off. It feels so good. But we just trying to help you balance the analytics just being good with math, but also the behavior because we do think they're all interconnected. But you need a system that helps you balance those things so you don't just get so caught up in how good it feels to pay off debt that you leave the risk of actually becoming and building wealth in the background. Because that's the thing I always tell people is it's make wealth, maintain wealth, and then multiply your wealth. A lot of people who get all into paying off the debt as fast as possible forgot about the make wealth side of it. Yes, you're de risking by paying down potentially assuming you get to the final point of paying off the house before some bad thing happens. But you didn't actually leave enough in the building process of the army of dollar bills. So you can actually quit working so much, you know, because it's hard to eat a house.

Bo Hansen (54:52)

Yep. I want to be clear. We. We have no problem with people disagreeing with us. There, There are a lot of people who take the stuff that we say they don't like it and they have another perspective. Totally open to that. We're not open to you just being wrong mathematically. That's the part that gets me so fired up. And you're. Oh, you're. Yeah.

Brian Preston (55:11)

And I like debt crusaders because every one of them that I've talked to, they're really more financial mutants who hate that because everyone when I say, hey, you brag about. I've seen on your channel because some of these are content creators I've talked to. And like I see you bragged about you paid off your house when you're 33 years old. Can you answer a question for me? And they're like, yeah, bro, what you got? And I was like, were you also saving, investing 25% when you did that. Yeah. And I was like, okay, well, we're not, I'm not mad at you for paying off your house at 33. That's right. You could have done better.

Bo Hansen (55:38)

Sure.

Brian Preston (55:39)

But, but still, you know, it's, it's perfectly fine. So I often find a lot of the debt crusaders who are out there on social media, you're really financial mutants that are just paying off your debt as part of step eight.

Bo Hansen (55:50)

I have, I have two friends who are also clients. You actually know both of them. And it's my favorite thing in the world to say every time I talk to them because they're both, you know, one's just pre 40, another one's just post 40 and I tell them like, hey, that paid off house is great. It's awesome that you have a paid off. I can't wait for you to start saving now. Can't wait for you to start actually building your. You could be so much further along. And they love that. But they're both going to be absolutely fine because they were doing exactly what you said they were financial mutants, even though they wanted to satisfy the debt.

Brian Preston (56:20)

So if you're saving and investing 25%, knock it out. But if you are saving 5%, 10%, 15%, and then you're still paying off a mortgage, it's under four and a half percent and you're under 45. Make wealth, maintain wealth, multiply wealth, figure out where you are.

Bo Hansen (56:40)

Love that.

Rebecca (Creative Director) (56:41)

So all that to say you did factor in the interest.

Bo Hansen (56:44)

We factored in the for sure.

Brian Preston (56:46)

You imagine.

Bo Hansen (56:47)

Make it a highlight. Blasted on you.

Brian Preston (56:49)

Imagine. Oh, you got us. I didn't even think about that. I like that you said it was an arbitrage. That's what people just don't understand. They just, they assume you left the interest off. No, we didn't.

Bo Hansen (56:59)

No, it's the math. It's math.

Rebecca (Creative Director) (57:02)

J Thoma Spicy question. Thank you for asking it and thanks for being here in the live stream. We'd love to send you a money guy Tumblr as a thank you for being here and for talking personal finance with us. Just email winner moneyguy.com I would have to say again, go to moneyguy.com survey too, because, I mean, that's what we kind of kicked off this live stream talking about. And we're really excited. For the next two weeks, this survey will be open for you. This is your chance to truly let your voice shape the show. We want to know where you are in your financial journey, what's going on what are your pain points? What. What do you want to hear more about? How do financial mutants stack up to the average American? We would love to unpack all of this in future episodes. So by going to moneyguy.com survey and filling that out and helping us just see kind of a snapshot of where you are, that'll help us speak to it and hopefully make some really cool and really interesting and fun episodes with that data. Because, you know, we love a good data point and we love unpacking that here. So be sure to go do that. And thank you in advance and thank you to everyone who's already done it, because the submissions are coming in, and we're excited. We're excited to see. See this data and do something really fun with it.

Brian Preston (58:14)

So we're. We're kind of at the end of the show. So this is where I get to do my. My zany stuff.

Rebecca (Creative Director) (58:19)

Is that our tradition now?

Brian Preston (58:20)

Yeah. So, you know, football season has started.

Bo Hansen (58:23)

Yeah, it has.

Brian Preston (58:24)

And I had an interesting solicitation email hit my. My inbox in the last two days where this gentleman has said, hey, my good friend Brock Bowers said that if, you know, if I needed to talk to somebody about finances, it was the money Guy show.

Bo Hansen (58:42)

Brock Bowers is a fan of the money.

Brian Preston (58:44)

I was like, this. This is, by the way, kudos, creativity. Because this means that this solicitation email showed that they knew we were bulldogs and knew we were content creators. And then they elicited, you know, obviously a very good former bulldog.

Bo Hansen (59:00)

That's right. Dgd.

Brian Preston (59:02)

So. But I was like, you know what? What they don't know is that we have the Santa we have the white light of to draw attention to if this is the case. So if Brock Bowers is indeed out there sharing the good news of the money Guy show, Brock, come on to a studio.

Bo Hansen (59:17)

Come on.

Brian Preston (59:18)

Let us, you know, let us know. But I think that this was just a creative marketing, you know, thing that this guy did. Kudos to him. Trying to be creative. Not gonna work.

Rebecca (Creative Director) (59:26)

What if he's really a fan?

Bo Hansen (59:27)

If Brock is a fan, that's gonna be Brock.

Brian Preston (59:30)

If you are a fan, I will go back and write this guy who solicited me if you. Once you reach out. But I need to get confirmation, proof of life before I'm willing to respond to his solicitation email. But I thought it was an interesting take, so I didn't mean. But it is. Welcome to football season. Go dogs.

Bo Hansen (59:47)

Go dogs.

Brian Preston (59:48)

And by the way, I probably. Probably should have given all this. Guys, we love creating content because we have a lot of the Ohio State people on the team here and that. Man, big weekend. How about Florida State?

Rebecca (Creative Director) (60:03)

I don't know.

Brian Preston (60:04)

Holy cow. I got some Florida State friends. I hadn't even written them. I need to write them while the. The iron's hot.

Bo Hansen (60:11)

Yeah, it is.

Brian Preston (60:11)

Wow. I mean, what I love football season and I love that, you know, I have two daughters and my oldest daughter could care less about football season, but my youngest is like, so excited. Football season is. She's all into the Bulldogs too. So. Guys, thanks so much for letting us even have this platform to just create content. I was out of town last week and a few of you came up to me. I appreciate that Bo was on a business trip and had a few. We love our financial mutants and just we do not take anything for granted. And if you're still sticking around and you love what we do, even like my zany stories, make sure you're going out to moneyguy.com survey because you're obviously a financial mutant. You stuck around this long. The least you can do is kind of get it. Get that data in there so we know who is out there and let it help shape some of the content. I'm your Host, Brian Preston. Mr. Bo Hansen.

Bo Hansen (61:03)

Moneyguy team out the Money Guy show is hosted by Brian Preston and Bo Hansen. Brian and Bo are partners with Abound Wealth Management. Abound Wealth Management is a registered investment advisory firm regulated by the securities and Exchange Commission. In accordance in compliance with the securities laws and regulations, Abound Wealth Management does not render or offer to render personalized investment or tax advice through the Money Guy Show. The information the information provided is for informational purposes only, may not be suitable for all investors, and does not constitute financial, tax, investment or legal advice. All investments involve a degree of risk, including the risk of loss.