Everyday Investors Are Beating Fund Managers (Copy Their Strategy)

What we're going to explain, what we're going to share with you today is so simple in theory. It's so simple in thought, and yet behaviorally it becomes so, so difficult, and so many investors, professional or otherwise, actually screw this up all the time. Well, first thing, when people find out what I do for a living, I think they just think we sit around and do, stock picking or market timing. So I always say, when's a good time to invest in the financial markets? And I'm always like, always be buying. It's always a good time to be an investor. Yep. So I think yesterday was a good time to invest. I think today is a good time to invest. And tomorrow is a good time to invest. But why do a lot of people not feel that way? Well, if you look at the actual data, the average equity investor historically has underperformed the overall market by 5%. And so you begin thinking, okay, well, everyone says investing is so amazing, so wonderful, so incredible. But when you look at the average investor, they actually do pretty poorly, but it has a lot less to do with the market and a lot more to do with the actual investor themselves. Yeah. So let's get into some of these behavioral science things. There's terms like loss aversion. What this means is, is people really outsmart themselves, fear-driven decisions. People see the stock market get beat up a little bit and they start looking for the exits about as fast as they can. They sell during the worst possible times that they should not be selling. Another thing that we often see investors do is they begin to hurt. Just because something exciting has happened or someone else told me that I should do this, whether it be positive or someone else told me I should not do this, whether it be a negative thing, They end up moving in a hurry, falling into a pack. And oftentimes, if you are greedy when others are greedy and you are fearful when others are fearful, it's not going to lead to the best outcome or best result. And then let's not underestimate the very, very concerning overconfidence that most of us humans have. Yep. Where we look at ourselves and we overestimate our ability to predict what's happening in the market. I think we've created a system that's going to make things better than your typical peers. Now, here's what's really interesting. This isn't just for small investors. This isn't just for everyday retail investors. Again, if you actually look at the data, according to Spiva, over the last 15 years, 90% of active managers, 90% of folks whose job is to go out there and get a return in excess of a benchmark in order to justify their fee, 90% of active managers underperform the S&P 500. What that means is that if you were an investor, you likely would have been better off just buying the market, buying the index, buying the S&P, instead of hiring a professional to do that part for you over the last 15 years. I begin with the hint in mind. I already kind of gave this away, is that this is why we absolutely love dollar cost averaging. If you can set it and forget it and always be buying, that's what I love about that strategy. It really doesn't matter what's going on in the economy. I mean the geopolitical world, it's going to help you start building wealth the right way, which is slow and steady. And then one day the exponential growth takes so much traction. You look back and go, how did I get here? Yeah, and we get this. But, okay, this is theory, theory, theory, theory, theory. All right. What about in the real world? How does this actually play out? Well, we love to show this illustration because I think it paints the picture quite vividly. If we think about the history of the stock market, and specifically, we think about one of the most significant, most drastic downturns we have ever seen. It was the Great Depression where if you look at the 25-year trading period, the market, the Dow Jones, it closed at 381 on September 3rd of 1929, and then it closed at 383 on November 23rd of 1954. That's a $2 increase over a 25-year period. Well, if you were an investor at this time, you might be thinking, oh, well – That's not even a lost decade. That's like a lost 20-plus years. That's like a lost working career. Why on earth would I ever invest? Why would I participate in a market where it's possible for the market for 25 years to be no better than it – to end no better than it started? But think about this. If you were just doing the always be buying or dollar cost averaging where systematically you were buying into this volatility and you were reinvesting the dividends and so forth, would you be surprised to learn that during this crazy period, this 25-year period where the market literally was flat, it only made $2, you had an average annualized rate of return of 11.7%. That's right. And that's because your behavior was the all-terrain vehicle. It was buying. While things were going down, you were still buying. While things started to recover and had a sputter start but then went back down, you were still buying. You didn't let that distract you. You will be rewarded if you can stay the course. But I can already – Brian, I can already hear the comments coming in. Guys, guys, guys, guys, you can't talk about the Great Depression. That was almost 100 years ago. That's an old-school idea. That's an old-school thing. Well, this same thing can actually happen and does happen right now today. If we just think about the year 2026 so far, right, if we think about the way the market performed in the first quarter, if you were following the headlines, if you were allowing yourself to fall into this loss aversion mindset, if you were allowing yourself to fall into the herd mentality, you might have recognized that on March 30th. And here's a headline. The American consumer confidence hits a 2026 low as geopolitical turmoil and inflation reemerge. Oh, no. Scary, scary, scary. Bad, bad, bad. Uh oh, uh oh, uh oh. And yet, if we actually look at what the market has done since that time, since consumer confidence was at the lowest part of the year, it's actually made 14.3 percent since that time. But if you would have acted on, uh-oh, things are scary, things are bad, things are frightening, things are uncertain, then there's a really good chance you would have actually missed out on this uptick of 14% since that point. So let's give you the rubber meets the road moment here. What's the key takeaways? The big thing, don't outsmart yourself and don't overthink this. This is one of those things where if you just have this always be buying, set it and forget it mentality, you get to take out all the other noise. See, it's just that's why you've heard me do the analogy. I always think it's when we talk about volatility, I say it's that yo-yo. You remember you're walking, you're the investor who every day the stock market's going up or down. But every day you're also walking higher and higher up a mountaintop of a growing economy. So if you can just stay the course, you don't have to drown yourself in all the information that in this new modern world kind of keeps us and does analysis paralysis and all these other things where people just don't. fall into the good behavior that actually builds wealth in the long term. Yeah, when it comes to building wealth, we believe that time in the market is way more viable than timing the market. And if you want to see just how powerful that can be, I want you to go to moneyguide.com slash resources and check out our wealth multiplier calculator. You can literally put in your age, put in the amount that you have invested, and you can see, okay, what does every dollar I invest or what does every dollar that I have invested up until this point have the opportunity to turn into by the time that I reach 65, by the time that I reach 55. And it can show you just how powerful your dollars can be. It does not have to be more complicated than that. You do not need a finance degree. You do not have to be some astute investor to be able to capitalize on allowing your money to work harder than you do. and with that let's roll it over to our i thought surely i was thinking another dime was coming i thought you know i mean i feel like we've been dropping some dimes today already if y'all could have seen the content meeting we had this morning there was all kind of stuff in there that i'm like why do we not have a camera in this but with that that's probably a great transition over to our creative director rebe now that's almost a transition that's an intro what if we put a camera just because these are people i'm gonna ask them if we put a camera in our content meetings and you guys were part of the process of us developing content is that something that you would watch participate in can we get a poll can we do a poll on that i'll see i look they're gonna think that we plan that but i really was i know we brainstormed we talk about this but i love that bo is actually what do you say bring it up why not go ahead and throw it out there uh if you say because we do love we love that we get to sit here we love we get to do this we love that we get to load you up. So every single Tuesday at 10 a.m., in addition to sharing the stuff that we've put together behind the scenes, we love speaking to the things that you guys care about. So if you have a question right now, we have the team out in the wings collecting your questions because we do believe there's a better way to do money. Get your question in the chat with that. Creative Director Reby, I'm going to throw it over to you. Yes, I've got some questions queued up, and it is these people's lucky day because it is Tumblr day. I just want to throw that out there right now ahead of time, so drop your questions in the chat. Why do we love the tumblers is because they transform from koozie to quark, quark, quark, quark, quark. You don't even have it out here, Bo. They didn't put mine. It's not here. Oh, my gosh. To a tumbler. You can actually keep your beverages either hot or cold. My Vanna White didn't show up today, so I'm sorry you don't get to see it in that room. Normally, I have the three beverage set up here. I like to throw up my three buckets. He does have the other koozie, though, so I guess we'll cut him a break. I do have another. Oh, man. It's all right. It's all right. All right. Well, first question. Now I'm going to water the whole show because you said that. I didn't know if you wasn't here. If this is a professional operation, it would be even that much better. First question is from Ben K. He says, hi, Money Guy Show. I am 24 and about to close on a house. Wow. Nice. Way out of the curve. My estimated PITIA will be just under 25% of my gross income. Should I put extra payments until PMI goes away? Down payment is about 18% and loan is at 4.99%. I'm going to read this again because I was caught on PITIA, principal interest taxes, insurance. Association fees. Oh, is that what it is? That's what we were thinking. All right. I like that. In the wings, we were thinking that. So that's going to be under 25%. I put extra payments until PMI goes away. Down payment is 18. Oh, man, you're really close, right? I think it'd be worth entertaining. Based on the size of the home that you're buying, what would it take to get 2% more? Like how much more capital would that be? And then I run the calculation. I figure, okay, if I do 20% down and I avoid PMI altogether, what's the change in payment? Am I going to take that savings and payment, put that money to work? Would that be worth the additional 2% that I had to save, had to put down on the house? I think being this close, I don't think it's a crazy mathematic to run. But that's not the way he asked the question, Bo. He's saying that should he continue, I would assume, after closing. Because I think what you're saying is if you can get the extra 2% before closing. But we all know even if he starts throwing extra money, there is an entire process. You have to reach out to the lender to get them to remove the PMI. And I'm here to tell you, I think that realistically, if we're post-closing, it only takes a year to two years where just the appreciation of through inflation, you're going to have 20% and still have to go through the exact same process. So if you're trying to tell me from a lifestyle decision you're going to forego having a Roth IRA, a fully funded Roth IRA versus going ahead and throwing extra dollars at 24 years of age on PMI, I'd rather you just let it happen naturally and go through the process in a year, year and a half, two years. As a matter of fact, you might want to go ahead and check in with your lender and say, hey, when is the first look back I can even have on getting PMI removed? Because they might – that's another reason why that might work against you throwing extra money now is they might have a certain period of time before they even give you that look back option. And there's probably going to be a cost. Yeah, and I'm hoping because 4.99 percent is a pretty good rate right now, so I don't know when you bought the home. I'm hoping they don't say something. It was about to close. So, I mean, you still have the potential if he could come up with a 2%. Oh, yeah, so he should – yeah, okay. That's not the way the question is written. I would scramble to find the 2%. I agree with everything you said, and I would scramble to find the 2%. Or I'd do the math to scramble to find the 2%. But what if he's closing next Friday? I'd do the math to scramble to find the 2%. I don't know how much house it is. It depends on what the dollar figure that is. It's a good problem to have, Ben. Good problem to have. Ben, if you would like a Tumblr, just email winner at moneyguy.com. We'd love to send you one since we answered your question. All right. Next question is from Abra622. It says – Say it with confidence. Abra622. There's no question. Thanks for the question. You read it with a question mark. You heard it from Brian confidently. uh abra 622 asks is there a money guy rule of thumb for how to handle overtime i'm currently working around 60 hours a week should i save 25 of it all of it should i use it on one-off projects what do you think yeah this is one of those things is this why we love the 25 metric so much when we talk about it we say 25 of your gross income if you're a part-time worker and you're only working half the time, it's 25% of the gross income. If you're in overtime working, working overtime, we want you to be saving 25% of the gross income unless you're working overtime in this specific season for a specific purpose. Then it might be like, hey, I'm going to take a few extra shifts. I'm working a little bit extra overtime because I know that I want to save for that next car, whatever the thing may be. We still want you saving those dollars, but you might be saving those for a short-term to intermediate-term goal as opposed to a long-term goal. But whatever your gross income is, we want you saving 25% of that amount. So, Aubrey, your question is, does the money guy have a rule of thumb on how to handle the overtime? The answer is yes. It's called the financial order of operations. What you should do with your next dollar is because you very well, you're going to try to figure out, am I in step four, am I in step five? And when you look at that, then, yeah, you say, hey, I've got extra money coming in. Exactly what Bo said, run it through the filter of trying to save and invest 25%. If you're, by the way, under $100,000 for a single individual, $200,000 for a married couple, you can take into account your employer's match with that money. Figure out and then, yeah, load up that money, that overtime. Let it fulfill what's going on with your army of dollar bills. Good stuff. Abra 622. If you would like a MoneyGuy Tumblr, just email winner at moneyguy.com. See, I feel like I can throw in a few. Actually, we've done so many rapid fire segments that I think it's making us better to answer questions. You're just getting faster. We're getting faster. So I feel like we have to like, let's put in some other stuff in there just because we're going to end up making through 26 questions. Do you have some other stuff that you want to put in there right now? Was that your lead into a tangent right there? No. I mean the only tangents – because I was at the beach last week. Which by the way, did y'all know if you got the newsletter They showed my beach view But I found out that they cut out my feet I guess they're trying to tell me That I have ugly feet They're obviously swimmers feet Because I'm built like a swimmer But they must be ugly feet Very functional over form It not an indictment on your feet I just think that most people In their Saturday morning newsletter while they drinking their coffee they don want feet as their first picture i just don think that the thing i think that wasn because you sent us a beautiful picture of the beach but all that we could see were the 10 little guys uh waving at us as opposed to the beautiful shoreline so so just what's funny is perspective matters so when i sent that message i was like god team didn't even respond to me it's kind of rude that nobody liked my my beach photo and then i come in today when we're doing our team when we're doing our content meeting and i found out y'all had the reason the way i was responding is because y'all huddled up and we're making fun of my ugly feet so i was basically being picked on behind my back you have wonderful looking feet they're very functional they're not bad looking feet they're great feet i just don't know that feet are what you want in your beach picture you ever like gone to someone's home and you see this like beautiful beach landscape and it's this wonderful portrait up there there's never feet and toes in it and that's what i'm saying i think that it's not you you're how would you know it's a photo from me though if i didn't put something you know because if you just take only landscape photos those are boring photos from vacation but if you put yourself in the photos it's better even if your feet were there how are we going to know it was you we get no one's going to identify you by your feet okay you know how we knew the picture was from you my feet because it came from right because he said you know what i mean we're pretty much locked in on that one. I want to be very clear. I didn't plan to have that tangent, but that's what was going on in the concert meeting. There were no derogatory comments made about your feet. Y'all were laughing about my feet. No! No, it was more just that the feet were in the picture. It was funny. In Discord, can we put the actual picture in? I don't know if we need to do that. Now I'm a little self-conscious about my feet. You've been defending, like, no, this is a great picture, and now you don't want us to share it? Well, I mean, I don't know. Now that I found out that there's an issue with feet, I don't know that it's a weird thing. There's not an issue with feet. It's just the picture, we don't want to detract from the picture. All right, we've caught back up to being as slow as everybody anticipated. So are we putting it in Moneyverse or not? Because what I was going to say is – I mean, I don't care. For the crew, yeah, I would let you all show my feet. I thought the funniest part of the picture, though, is that the way the shadow cast, it looked like you were wearing a wetsuit. Like you had long pants on. It was a fantastic picture. We're so thankful that even while you're laying on the beach, you didn't have to be thinking about us, but you were. And you're like, you know what? I want the team to enjoy the view that I have right now. So two things there. If you want to see the full picture that Brian is describing, go to moneyguy.com slash moneyverse and join our free Discord server. Then you can talk about personal finance with us too. You too can see Brian's big toes. So it's very fun. And you can see Brian's big toes. Whoa, didn't think I'd be saying that. And then second of all, if you're not subscribed to our email newsletters, if you were, you would have already seen part of the beach picture on Saturday morning, along with a really nice write up about our why and getting to do what you want to do because of making good financial decisions. But go to money guy dot com and you can subscribe to our email newsletter, too. You remember when you said we got so good at this? Yeah, I know you just screwed it up. You were like, we're doing so good. Let's just let's derail it a little bit. But now let's get it back on the rails. We have a question from Foo Fighter 66 up next. It says, good morning, Brian and Bo. I'm 29 with one times saves. I think he means one times his income saves. He's on his schedule. And he's on step five. My dad, 65, invited me on a 5K moose hunting trip next October. Likely his last. That's so sad. I don't like that we're already thinking through that. But he says, I want to go, but feel guilty. Thoughts? Go. Also, you got until next October. Go. I mean, so I would find out how long you can stretch out the payments. But, yeah, I mean, and then also, you know, look, you know your parents' situation better. I mean, but tell them your concerns, but you're going to make it happen and see if there's essentially a dad scholarship, too. Dad, I really want to go. If you could foot the bill, that would be awesome. Is that a financial mutant thing, too? I mean, look, as a parent who's got now a graduated from college daughter who's gainfully employed, and I know I'm going to have to bribe her to probably in the best possible way. I don't really mean it. She likes spending time with us. But I for sure will be doing nice things to try to help incentivize, just like I helped her fund her initial Roth contributions when she was younger and starting in the workforce. I think there's nothing wrong with if your parents are in a good financial situation. Just statistically, typically the parents are in a better financial situation than you just starting out. So that's the only reason. I'm not trying to turn you into a failure to launch. It's just one of those things that I thought was worth a conversation. I just think far too often financial mutants, they miss out on some of the sweetness in life. They miss on things they can't go back on because of the dollar figure. When I see a $5,000 moose hunting trip, I don't know your financial situation, But I'm going to argue that I would imagine $5,000 is not like an insurmountable cost to overcome. Now, this is different than you said, hey, I want to go on a $50,000 safari with my dad. Then we'd have to pull the reins in. That's a little aggressive. But $5,000, depending on your circumstance, might be a very realistic thing where you're going to have the opportunity in the future to make more money, to save more money, to be able to afford this trip. If this really is your dad's last hunting trip, you don't get to go back and have any more of this. Let me bring this into a better perspective is that that's a big thing, like the big lifetime memory of blossoming memories because we're not going to be here forever. Let's start putting – because that's a big thing. What small things can we do now to make this possible? Can you just make your meal prep for the next three or four months to where all of a sudden every month you're saving an extra $200 or $300 just because of the way you're structuring decisions, small decisions that you're already doing? Are there things that you can sacrifice in the short term that will help make this or cut the corner off of this to where now maybe it's only $3,000 that's actually coming out of your savings or $2,500 versus the full $5,000 because you're going to make some lifestyle decisions? that make up for the rest of it. Yeah. I'm just so – I wouldn't miss the trip. I wouldn't either. That's what I'm saying. Here's the thing. He's saying he's already got one time his income saved, so he's slightly ahead of the curve. He's on step five, so he has an emergency fund. Sounds like you're employed. I'm kind of like, you can make that happen. We're not – we actually – money is just a tool to let you focus on what really matters. That's exactly right. It sounds like time with your dad matters. I'd find a way to make it happen. I second that. But I would go turn over a few stones. What? I thought Bo was going to say something. No, I agree with him. He just looked like he was going to. No. Okay. That was a look of affirmation. Affirmation. Well, Foo Fighter 66, thank you for the question. Enjoy the hunting trip. Go get your Tumblr. And if you would like to bring – keep your coffee hot while you're on your hunting trip, just email winner at moneyguy.com, and we'd love to send you a Money Guy Tumblr. Where do you hunt for moose, Canada? Somewhere where it's cold. I don't know. I'm not a hunting expert. The northern part of the United States, I think, have moose, too. I would imagine so. I don't know what permits and stuff are. Have you ever seen a moose? No. I'm going to... Only when I used to go to that crazy restaurant that had a fake moose that would talk to you. Oh, my. It was like a steak restaurant. Oh, Stony River? No, it had some crazy... It had a different... I think they've got out of business now, but there was a moose head that would talk to you every few minutes. No, it wasn't Bullwink. Thanks, kid. Oh, my goodness. I'm actually going to – Somebody in the comments, I guarantee, will know what restaurant I'm talking about that went out of business. Later this summer, I'm going to Canada for the first time, and moose is on my list. I would like to see – I don't think I've ever seen a moose in real life. Lots of Rocky and Bullwink growing up. All right. Well, we are going to do another question, but it is also going to be time for our rapid fire segment very soon. So get your rapid fire questions into the chat. If you're watching live, be sure to put RF at the front of your questions so we know that you want it to be a part of that segment. And that will be coming probably between the 30 and 40 minute mark. So stick around for that. All right. Blue Creek. There it is. That's it. I knew it. Somebody in the audience would know it. Because they had one at Stonecrest. That was the one that we always went to. There was one in Fayetteville, Georgia. Thank you. Thank you, Paul Bigness. It sounds like an animatronic nightmare. I remember they had one. It was part of the new mall development. I remember that. All right. Next question is from Gabib 1992. Sorry, I'm supposed to say it with confidence, but I didn't. You don't think that's Georgia Bib? Oh, Georgia Bib. Georgia Bib 1992. That's a good year, by the way. You can decide. I graduated high school. The question says, when investing in different account structures like HSA 529 or Roth IRA, are you supposed to be invested in the same exact index funds throughout each account? Depends on where you are in your journey. In the beginning, getting the money in the right account structures is more important. just following the financial order of operations and just maxing out your Roth, setting up your 401K. All those things are more important than even the specific investments. So that's why we like broad index funds, whether it's the S&P 500 or if you're even one of those people who wants to use an index target retirement fund. But then down the road as you build some wealth, usually around step seven of the financial order of operations, you'll start thinking about the three buckets and the efficiency of those investments because of the taxes at that point. But in the beginning, I wouldn't get caught up in that. I would choose a really good operating index fund and just let it rip. I agree with everything that you said. Do you want my hot take? Yeah. You know, sometimes when you're taking a test and they ask a question and you jump on the answer real fast, but then when you read it again, you're like, whoa, this is a trick question. I think this is one of those. Because what's really interesting is the three account types. He didn't say like, hey, when investing in different account structures, like 401k, IRA, traditional IRA, Roth IRA, should you do it different? He actually laid out three different, or she laid out three different tax-free account structures. 529s are tax-free, health savings accounts are tax-free, Roths are tax-free, which means that because they're taxed the same way, it is likely that the types of indices, the types of investments you're going to use in those three specific type of accounts probably will be pretty similar. They probably will look kind of the same, again, depending on your timeline, because the 529, as you get closer to needing the dollars, would need to be dialed down a little bit. That was the only one that I was going to draw attention to. That one seems a little different. If you're early on, your kids are not close to college age, I bet it's going to be a lot of low-cost index funds across all three of those because they're all taxed the same way. I think it was a trick question. Yeah, I like that. But I would add the color that this is why I like in 529s. Because remember, I think I'm somewhat of an expert now that I've had a daughter graduate college and we use the 529 to pay for it. Is that I like the age adjusted portfolios, the index variety. I was very fortunate that the provider of my 529s was using essentially index target retirement funds. And it was amazing how when we needed the money, it was there. And I love the fact that how it annualized and grew over those years. And those small, small contributions I made when she was an itty-bitty baby turned out to be and blossomed into a great 529 that helped pay for the first three years of college completely. That is awesome. Well, GeorgiaBib1992. If you would like a MoneyGuy Tumblr, just email winner at MoneyGuy.com. I don't know if it was GeorgiaBib. It wasn't. Yeah, but I like it. Get creative with confidence. And we're Georgia boys. So you can you can highlight the Georgia, the Georgia, GA, babe, 1992 knows who he is. My nephew just graduated from University of Georgia this past. Nice. Go Dawgs. Do you know how fun it is watching a new grad walk through the arch for the first time? It was pretty cool. It was it was very sentimental. It was awesome. You wouldn't bulldog thing to say. I might say you wouldn't know. No, I wouldn't know. All right. Next question is from the Bobby B 22. It says, hi, money guys. You talk about always be buying. That's right. If I can front load my 25 to 35 percent early in the year, can I take my foot off the gas to enjoy summers and holidays more? We'd still continue the 401k match. Yes, Bobby. The only curveball you have to watch out for is make sure your employer truly is going to give you that match. Because we have actually seen plans where they're structured, where they don't actually do the match, even if you front and load it, they cut off the contributions. We've seen that. So just make sure you do a little homework. But I'm okay if you – because statistically, it probably works out pretty good because eight out of ten years, you just have more money, more time for the money to work. Yeah. I was going to say the only thing you're going to miss out on is if you're front-end loading it consistently in the front of the year, you're going to miss out on some of the dollar cost averaging benefits. That's true. Volatility. Fourth quarter of 2018 is a big opportunity to be buying. So if you have money going in every month. but does it are you still saving the appropriate amount if you're saving 25 to 30 percent in front and loading it so that you can take your foot off the gas later absolutely and then the behaviorally just know thyself is that make sure you really are turning the spigot back on every year because part of the the set it forget it that i like is is that it kind of foolproofs you to a lot of the behavioral traps that we all fall into and one of the ones when you're doing things from a a structured timing standpoint, you just forget about it. You get busy. And then all of a sudden, a month or two slips through the cracks. You're like, wait a minute. I totally missed out on three or four months worth of savings. Just be careful with the behavioral stuff. You talked about the true up provision. Did you say the name true up provision? No, I didn't say it. What you want to ask your HR, if you're thinking about doing this, you want to ask, hey, do we have a true up provision? Meaning so long as I put in X percent of my salary, if it's not going in per paycheck, will I still get the employer match? If your company doesn't have a true up, They make you have to have money going in. You could miss out. So it's a really quick email to HR. Ask them. Not all plans have them. Not all plans don't have them. So you want to make sure you don't miss out on that money. Yeah. I mean, I don't know if we need to explain that, but it's basically they're going to just apply the percentage each paycheck. That's right. So if you front-end load it, you're like, well, I got it all in there, but they might have only given it that percentage off of each of those paychecks, and they're counting on giving you the rest later. But if you don't have any money going into the plan, you just don't get it because that's the way they're matching is set up. And it kind of stinks when it's like that. Oh, yeah, because you miss out on free money. Well, the Bobby B-22, hopefully that helps you think through that decision. And if you would like to drink from a Money Guy Tumblr while you consider this, you can just email winner at moneyguy.com and we will send you one as a thank you. By the way, that was the most Bo and Brian thing ever, and the fact that I talk about the concept, and you came up behind me and cleaned up the thing by saying, hey, did you make sure you actually used the actual professional word that represents that concept you just said? This is why we work together well. Peter Bar and Jelly. A lot of times people don't know the language. Like, oh, man, I got this great question I want to ask my HR. But HR professionals are often not financial professionals, and so even when you ask them the question, oh, no, no, yeah, we get a match. You want to be very specific because you want to make sure that it's kind of like artificial intelligence. The quality of the input will dictate the quality of the output, and so you want to make sure you're using the right vocabulary. So whoever you're asking the question can get you the correct answer. Yeah because if you go and ask them say hey if I put 6 in I getting the full match Oh yeah Oh yeah you getting me match here I like no no no Let get into the actual terminology That's right. All right. Next question is from SPLow603. How do I know when I – Spos. 603. That's it. How do I know when I move on from step six to seven? My wife and I don't make enough to fill every account, but we are doing 25%. Are we on step seven? And can you expand on step seven? I'm 24, married, and with 195K. Wow. That's pretty awesome. 24, married, 195. You were certainly out ahead of the curve. Brian, you actually wrote the book on this. Yes, that's true. You wrote the book on how to progress through this. Yeah, the most improved chapter when I was doing the original version of Millionaire Mission was really a step seven chapter. After I was like, man, that now hits a little differently. And by the way, yes, I'm going to go ahead and answer for Sposs. I didn't put the T on there because that's not a special – You're about to make a tax joke. I know. You're about to make a tax joke. Don't do it. I won't make the Sposs joke. Sales tax joke. But I can't help myself. What a CPA, am I right? Listen, you are definitely in step seven. We've had this question come up because there's a lot of people that will make under $100,000 that will never reach the 401k funding limit for the year, but they have definitely reached the 25% savings rate, especially if you include your employer match. So you should move to step seven, which the whole purpose of hyperaccumulation or step seven is now instead of you thinking, in the, because steps one through six are all very reaction or cause and effect, meaning that we got to have emergency reserves to keep you from making desperate decisions. We've got to get the free money from your employer because it's just that valuable. You can't pay a bank 20 plus percent and expect to be successful. That's why step three is set up the way it is. Emergency reserves keeps you, helps you in case you get unemployed. Tax-free growth or tax-favored growth in step six are just too valuable not to pay attention to. Step seven is the first one of the steps that you get to take a breath and say, wait a minute, okay, all this has been cause and effect because of the tax policy or keeping myself out of the ditch. Now, how are we actually gonna use this money? And that's where you get to take a deep breath and think about what's the ultimate goal for this money. Do I have the right account structure that's actually gonna let me use that money in that way? And it's kind of a way for you to catch your breath, know how you're gonna use the money before you start moving on to step eight, Which is those prepaid expenses or abundance goals, and you once again get to work thinking about now how we're going to be using that money even if it's outside of boring stuff like steps one through six are. That was a fantastic answer. If you want to know even more, like if you'd like to know more, I'd encourage you. If you've not picked up a copy of the Minute Intermission, it's a great read. You can read through that chapter, actually understand that. Or if you want to do a deep dive on the financial order of operations, you go to learn.moneyguy.com. Go take the financial order of operations course and actually see, okay, this is what went into it. This is how it was designed because it kind of walks you through that level of detail for each one of the steps that we work through. And remember when we did the food course redesign last year, we gutted the price on purpose because even though we made it much, much better and I felt like modernized and streamlined it, we gutted the price because we were trying to make it that much more approachable for everybody. We realize it's not about the money we're making out of it. It's more about getting more people in front of it. Exactly right. That's great. Well, SPLOS603 or SPLOS603, thank you so much for the question. Just email winner at moneyguy.com if you would like a MoneyGuy Tumblr. Before we get to our It Does Not Depend rapid fire segment, what? What are you looking at me for? No, no, it's just us. You keep going. You're great. Okay. I was going to say we have a couple of really fun collabs coming up this week that I thought we should shout out. Tell me more. Tomorrow, your episode with Marriage, Kids, and Money is going to come out where you talk about fire. So go check out Marriage, Kids, and Money with Andy Hill. And then I believe on Sunday, your episode with Ice Coffee Hour is coming out where you guys respond to some portfolio. I mean you guys talk about so much stuff about investing. Well, you know, because we went on Ice Coffee Hour again. They came in town, saw us. Jack and Graham actually let us see their portfolios and got our opinions on them. Hey, what do you guys think about these? If you want to see what we did. And, I mean, look, and Bo was nice to them, but he also pointed out some blind spots that they might have. They asked for our opinion of what they're both doing financially in their portfolios, and we gave it to them. What's funny is that we're still getting texts from specifically Jack. He's very hot and heavy on a specific strategy. It will be interesting to see how it plays out. Yeah. So really good stuff coming up from two fellow financial creators. Actually, we have a few collabs coming up. I won't give them away yet. But we'd love to hear who you think we should collab with next. Oh, that's a great question. It's always fun to meet different people in this space, even with different ideas sometimes. It's just fun to discuss and get to know them. And a lot of the time, you guys have given us some really wonderful ideas. So let us know who we should meet and collab with next. Because there's things like I think about content creators that like every Saturday I watch Disney Food Blog with AJ. I've been trying to forever try to figure out what's collab thing can I do with her. But I couldn't figure out how to make it work because I don't know. But I would definitely be open for us coming creative collaborations that we should be doing because it's good for everybody. You know, what's great about collabs is that you get to you guys get introduced to somebody else who could hopefully add value to you. But then also we get introduced to their audience as well. So if you have any creative ideas, we're always open to thinking about those things. It's fun to hear what you guys are thinking. So I just want to throw that out there. All right. But it is now time for our It Does Not Depend Rapid Fire segment where Brian and Bo collectively have 30 seconds to answer your financial questions. And they cannot say the phrase it depends or they are out or something like that. And then at the very end of the rapid fire segment, we will move on to our Maybe It Does Depend segment where they can say any of the things they felt like they just really needed to say but didn't have time to. So that is what we're going to do. We are going to put 30 seconds on the clock. And after I ask the first question, we will be off to the races. Are you guys ready? Yeah. Why do you always look nervous? You're getting too good at this, honestly. That's only the first question. Okay. Kind of like you get a shot from the doctor. It only hurts for the first second. Oh, okay. The first shot only hurts. I was like, how many shots you get when you go? What are we – are you going first or am I going first? I'll go first. Get out of the way. Okay. Question one. Is there ever a case for investing in a fixed index annuity? If yes, when would this be? Yeah, when interest rates are really above average high and you'd like to protect a chunk of the portfolio because you don't have a pension or some other cash flow thing that takes out the volatility. For very super risk-averse investors who are terrified of any sort of market loss, but they need to turn a pot of assets into an income stream, annuities, specifically immediate fixed annuities, can be solutions for people in that scenario. Next question, what's your money vice? Something you enjoy spending on without a second thought. convenience i am at the stage in life where if i can spend some money to have something done or something done on my behalf or something done more efficiently i love the idea of convenience i love of being able to buy back my own time crud gadgets yeah but what's the last gadget i bought you watch oh yeah i guess okay you do love a good gadget i buy gadgets we're gonna go gadget and that was it was a splurge time is up all right how about experiences how about going honestly how about one on cruises we'll come back to that one oh that's what i should i should say no no no no no we'll come back to it we have time's up okay next question around what percent of your clients are on the fire path what is the average retirement age you see what's it like in the real world I will be honest, much fewer of our clients are true fire, like financial independence, retire early, do nothing We do have a lot of fine people because they are such diligent savers that when they get into their late 40s, mid 50s They now have the opportunity, they can either leave the job they have been doing or focus on their next endeavor Yeah, I would say, I mean, most of our clients are before 65, which is traditional So I think a large percentage are before 65 We don't have – I can't think of any under 50, though. I have a handful. Okay, never mind. I have a handful. Disregard. Next question. Is Roth 401k always the move if you will receive a pension when you retire? I love Roth IRAs because of also – assuming you've taken into account all the tax implications, because of the legacy, the tax-free growth, there's a lot of power with all Roth IRAs. accounts. I don't like all whenever we say that. I would say if you're in a very high tax bracket, even if you have a pension, it would behoove you to save on a pre-tax basis, especially for the 30% plus tax bracket because you get 30% tax savings this year, even if you are going to have pensionable income later on in life. All right, next question. Is it worth it to participate in my company stock purchase plan if the discount is only 5% and the money is held for three months with no interest? How much free money is not enough free money? You know what I mean? Because 5% is still free money. And even if you hold it for three months, it's still a relatively minimal amount of period. It does sound, without knowing the other circumstances, I would say the ESPP is likely still falling into step two of the financial order of operations. Well, also, that 5% discount, is it before? Because a lot of times it's the lower of either the beginning of the quarter or the end of the quarter. That might be enough juice to really push it over. you guys are getting very good at this well done crushing it whatever we're having we're there's we got a bunch of it not depends to double back on i mean i do have two listed so if there's more let me know i can't talk all right next question where is the best place to invest my money if i need to access it in five years i mean five years is right there on the line it's probably gonna be a balanced of some index funds, but a lot of liquidity so that you can offset any crazy things that happen from a timing perspective. I still think that right now, the most attractive cash holding are high yield money market mutual funds. Most of them are paying somewhere between 3.4, 3.7 percent. Inside of five years, that's where I would hold my cash. That's where I am holding my cash. With two seconds to spare. There's more to add on that one, potentially. All right. I'll make a note. But it's hard because that gets into financial planning. Oh, my goodness. You guys. Might as well say it depends. Fired. OK. Next question. Step eight. I'm in step eight. Have 220K and a brokerage intending to fund 100 to 150K of college starting in seven years. When and how should I start de-risking? Just like we talk about putting money to work by dollar cost averaging, whenever I know I have some sort of goal that's going to happen, I like the idea of reverse dollar cost averaging. So if I think that I've got seven years to do this, I may begin slowly backing down the risk on monthly, quarterly, annual, you figure out the cadence basis to get to that thing by the time I get there. The only other thing I was going to say without saying the dirty word we're not allowed to say is make sure you really are in step eight. That's where step seven is for you to actually compare what you have to your goals and make sure you're not derailed. One second over, but I'll give it to you. Okay. Next question says, MoneyGuy team, what do you mean by graduating from target retirement funds? What's next after that? Well, I think you get even more tax efficient with your investments because Roth, you love the tax-free growth. After tax, you love the liquidity and access to it. And then tax deferred, it's the least tax efficient. A target retirement fund is a generalized portfolio solution. Once you graduate past that, you move to a personalized, specific portfolio allocation meant just for you based on your income, account structure, availability, goals, time horizon, risk tolerance, capacity. That was good. Two seconds over. I guess I'll give that to you too. next question says should we calculate savings rate off of gross income minus daycare expenses if the daycare expense is large and makes saving 25 percent hard no you should not subtract it off but you should give yourself some grace this is a period this is a season you may not be able to save 25 right now and that's okay go to moneyguy.com slash resources check out our how much should you save deliverable even if you're young you're not saving 25 there's a good chance at lower savings you still get where you want to be later in life. That's why we like the gross is because it doesn't let you do any of the what-ifs that a lot of people do. People hate that we use gross, but it's specifically for these purposes. Right on time, even with the speedy talking. Man, if anybody's listening on one and a half or two times speed, listening back. I feel like Bo just transformed himself into the micro-machines disclosure gap. We may revisit that in the ending segment. It's only the last seven or eight seconds. I'm good for the first, like, you know, seven seconds. All right. Next question. Should I combine retirement accounts from old employers or leave them be and why? Go to moneyguy.com slash resources. We have a great flow chart for you to answer a few yes, no questions, and you'll know the specific answer for your situation because it does have variability. Four things you can do when you leave an employer. You can cash it out. Don't do that. You can leave it where it is. You can roll it to your new employer. You can roll it to an IRA rollover. The deliverable Brian just said will walk you exactly through how to make that decision. Well done. Man, that resource really did the heavy lifting on that, but it is a great resource. Moneyguy.com slash resources. It's a front chart. It's going to ask you yes, no questions. That takes out the it depends. All right. Last but not least, what do you guys like to do on your days off? I mean, me and my daughter like to do errands, whether it's washing cars, going to pick strawberries, whatever you pick fruit is available that's what we like to do on the weekends yeah on days off for us it's family time we are still very much in the messy middle so we're spending a lot of time in the pool right now hanging out doing that being outside going for walks trying to drink in these kids youth my oldest is about to be 11 and i'm like holy cow she's uh that's like seven more years seven more summers seven more christmases ah i also because we're over but it's the last question And I appreciate that my wife does usually a once a week date night plan. Like she just puts together something with a neighbor or a friend. And that's pretty cool, too. Very good. Well, that concludes our It Does Not Depend Rapid Fire segment. Thank you for your submissions and questions. Let's now go into our Maybe It Does Depend segment where we can talk about all the things you didn't get to say. I have a few marked. Can I go back to 12, though? because even my own mom because I had a bunch of family in town for graduation and mom was like so do you and Bo hang out on the weekend My own mom says this We get that question all the time And I like no But not a – we don't purposely not. She goes, oh, so y'all don't like each other? And I was like, Mom, we hang out like every day for hours. And as a matter of fact, my productivity gets killed because I'm in Bo's office talking all the time. But on the weekends, we typically are doing independent stuff. And it doesn't mean that we don't – It's not on purpose, though. We don't avoid each other. Like I would still like – what's funny is Bo and I have vacation. And you should know. I didn't even tell you this, so it would be on air. It would be the first. My wife was talking because we were on a trip, just me and her, last week. And she's like, we ought to once a year do a trip with Bo. I was about to say your wife. Oh, that's so nice. He was like, just because that would be really good to make sure that we – because we do get busy doing so many things that sometimes I feel like we don't do enough stuff out of the office. I'm for it. You heard it right here. We're going to do it. They do indeed like each other, in case there was any question. Those are the funniest. There's some funny stories. I mean, because that's also when the funniest stories, like your swimming ability and so forth, came up from the last couple trips we did. Just think of the stories you could generate, the tangents you could have. All right. Well, we did ask a question about what's your money vice, and I believe we ran out of time. Oh, and Brian couldn't think of anything. Brian couldn't think of anything. I should have said theme parks. Theme parks. Yeah. Theme parks are a huge money vice. Cruises, theme parks. You love cruises too. I do like cruises as well. Like someone you can take your family to that's a big fun generator. Yeah. You will go for that. I think sometimes my wife, God bless her, she's – because those things, if you think about it, I am definitely a stimulus seeker. Sure. And so is our youngest daughter. So we love like high volume, high energy stuff all the time. And my wife is like, oh, my gosh. That's why I think she loved that we went to the beach last week. Meanwhile, after day one, I got – we didn't get in a fight, but she was definitely disappointed. because tomorrow we're going to have to find something else for me to do because I can only hang out on the beach. One day I'll start twitching. You're not like a sit under the umbrella reed kind of guy? No. I just sat there and watched the water go in and out, in and out. And then I was like, all right, all right, this is pretty cool. What time is lunch? You know, it's just, I don't know, in and out. Do you ever, do you like snorkel and stuff? Is that a thing you do or no? Well, yeah, I mean, I don't have a problem doing it. It's just that water was a little chilled. Ah, got it. I didn't think it had enough sun on it yet in the season. Because I'll tell you, down there at the equator a few weeks ago, it was perfect. So that's what we did. We were like hanging out and we'd go snorkel and go do that. No, I do like that. Because, you know, a few years ago we did it on a catamaran in the Grenadine Islands. And actually it's one of the only vacations that I lost weight on. Now there's other reasons too, but it was a lot of great snorkeling. We'll just leave that up to your imagination. All right. There was another question. Don't do a catamaran trip like I did it with a small, small, small, small catamaran. Oh, my goodness. Okay. Moving back to personal finance. There was another question you guys kind of kept talking on and I stopped you about like what age your clients are retiring. Did you have anything else you wanted to say on that one and what it looks like in real life? Uh-oh, what does fire look like in real life? Was that the one? Yeah, you were saying – because I said we don't have any clients really under 50 who are retiring. You're like, well, I do. We actually had someone in the chat say, hey, I'm a client. I'm under 50. No, no, no. That's not what we meant. Don't let the old guy say something. People that are truly pursuing fire. I want to work aggressively for 10 years, 15 years, and be out of the workforce forever. What we most often have, we have a lot of very high earners, very esteemed folks who want to do sabbaticals. Hey, I want to take a year off, take two years off. We have a number of clients that have done that a number of times now. I got a client buying a Sprinter van right now. Yeah, and then we have some that are like, hey, I've reached financial independence, so now I get to choose what I do with my time based on what I want to do, not what I have to do. For some people, it's continue to do the same job because they love it. For others, it's shifting and volunteering or doing family stuff or whatever that thing may be. We do have a lot of folks that fall into that camp, but it's because they figured out saving early and often. It's given them flexibility and options later on in life. So do you think like by definition there are a lot of fire, like people retiring before or going to the next endeavor before 65? But maybe they're not that traditional idea of like I'm fire and I'm saving 60 percent of my income and like that kind of thing. Yeah. It just looks different. I don't think I have any people in my ecosystem that have young children that are fully checked out and done working. Sure. Do you know what I mean? Maybe older, high school, college age, but I don't have any fire people pushing a stroller and they're done. They're out. I mean, look, I'll ruin it for everybody because this is what you ought to understand. The ideal is you get as much money as you can at an early enough age so you own your time that much sooner. And I think you'll find out that most people, when you get to the point that money is nothing but just a tool that you're using, it's not something that controls you having to wake up to go to work anymore. You're still going to want to wake up and know what you're doing is having an impact in the world. At least that's what I have found is when I got to the top of the mountain and realized, oh, I have the level of money that I always thought I wanted is that it's not as cool as you think that you can just go buy anything. You need to have purpose. You need to have why. you need to have there's more to it than that and that's why i think a lot of people don't actually just completely tap out is because that seems not as cool as you think it is too i think a lot of us have that daydream because you're stressed out you don't control and own your time yet so what do we do it's the same thing when i was growing up my dad used to because he was in a high stress situation at work and we'd be on a of you know riding down the street and he'd be like you see that guy mowing grass on the interstate, I wish I had his job. We all fantasize in some way to take the stress away. And that's why I try to give you the tools to go own your time that much sooner, because when you truly do things because you want to and you have the power of you can say no to anything and everything, it just hits differently. And that's what I try to get to people. It's not really tapping out. It's just owning your time that much sooner. That's right. Yeah, that was good. I also had a note to come back to where is the best place to invest my money if I need to access it in five years. Did you have anything else to say? I thought the thing about like I keep all my liquid cash and a high-yield money market mutual fund right now is the best place. And that's where I keep my like sub five-year goals. But you said there was more you wanted to add to that. Well, I was just saying sometimes we have a sinking fund or something where it's like five years in the future. you probably could put 20% into 20% of that or 30% of that, depending upon your risk, you know, variance or how hard it would hit you if all of a sudden that money was, you needed it and it was a downturn. You could try to juice things a little bit. I mean, we are, think about some of our debt. Like you and I have some debt goals that we're paying down some commercial real estate. We've put some of that money in the market. Oh yeah, for sure. And even though we know it's coming up in the not too far future. So, I mean, that's why I think there's nothing wrong with having a balanced approach to try to take advantage. Now, with that said, is if we get within three years of when we think we're paying off this debt and the market's at all-time highs, we might start winding it down because, you know, remember, pigs get fat, hogs get slaughtered. That's right. oh the only other thing i had on here rebe was i think it was question number eight on the rapid fire was we were talking about should you do roth r roth 401k read that question again roth it was number eight it was i was just gonna say roth is my favorite child i know as a parent you're not supposed to name your favorite children but of all count structures i love roth it was the number second rapid fire question but i think he wrote his eighth question overall oh yeah no Oh, you're right. So it was the second rapid-fire question. That was the eighth question of the day. Actually, I think it was the third one. First one was fixed-indexed annuity. Second one was something else. Second or third question. Hey, should I invest all of my money in a Roth 401k even if I have a pension? Oh, yes, that would be a four. Okay, yeah, wow. We were speaking a different language there. Should I only invest in a Roth 401k if I'm going to have a pension later on? I said, hey, if you're a really high-income individual, even if you are going to have a pension, I think there's merit to getting the current present-year tax benefit doing that. Sure, because you can just do Roth conversions down the road. But I just – I didn't want to poo-poo on Roth dollars because they are my favorite children. Well, we would never poo-poo on it. But the question was – I think the word all was in there, right? Like it's like this exclusivity. If it makes sense to do all Roth, for sure. But the time when it doesn't make sense to do all Roth is if you're in a very high tax bracket, Roth can be costly. And so I would still think about maybe maxing out the pre-tax and then doing some backdoor stuff and that sort of thing. Well, that concludes our maybe it does not depend segment. Do we do one more? I'd say that was our best one. Really? You did pack a lot of meat into that rapid fire segment. I thought we did really good. It was good. Not to toot our own horns, but. Yes, let's do one more question. Let's do one more question before we close this thing out. This one says, Brian has mentioned. Oh, this is from Tim R. Tim says, Brian has mentioned ABLE accounts in the past, but only briefly. When are they appropriate and when are they inappropriate? We may be eligible to contribute, but if we become ineligible, it seems bad. Do you have anything to say to them or point them to? Before you answer that question, because I think it would be helpful you just like what an Able Account is, how it operates. We've released the thing that I'm thinking of is out there in the line. People should go check it out. But what Bo is alluding to, we have a great resource. By the way, if you have anybody who has a special needs child or developmentally challenged child, we'd encourage you to go to moneyguy.com slash resources. We actually wrote an e-book, and originally when we did it, we were like we were going to sell it. But then we're like, no, no, no, this is too valuable. So we're just giving it away. So if you just go out there and check it out. Now, look, it's not going to be the ultimate end all, but I think if you're just on this journey and you need something to kind of give you some overviews of some very key important concepts, go out there, please, because that's what the heart of this when we designed it was. Because I'm on this journey myself, and you've heard me talk about it in Millionaire Mission. I've talked about on the show is I don't have to save for one retirement. I have to save for essentially two retirements because after I leave, I know whatever I have saved up or built up is it has to provide also for my youngest daughter. I like ABLE accounts because the way these things were designed, and this is what Bo was alluding to, you know, years ago they came up with 529s to help pay for college. Congress got together and said, hey, we need to we need to incentivize families to be able to afford the rising cost of education. Let's come up with 529s. And the way that that structure was is that however you put money into these 529s, if you used it for qualified education expenses, it would be completely tax free when you pulled the money out. Well, then somebody in Congress said, you know what, that 529 program worked out so well. Let's use the same code section, but let's make it for disabled people who have disabled children or family members. and they started off and it was a pretty tight qualification, but they've actually unbundled that and made it even easier to qualify. I think originally it was like under 26. Now they've pushed that up into the 40s or beyond. And then also earned income. If your disabled child had earned income, that would limit you to some degree. They've lifted that out to a degree. But the way these things are going to work is that you can put money in. Now you don't get a deduction or anything, but you do get they grow completely tax-free tax-deferred and if you use it for qualified expenses which is pretty broad for for disabled individuals you can pull it out completely tax-free and they also up to the first hundred thousand dollars it's not going to disqualify you from social security and other you know federal benefits you might be entitled to now there are limits what i found is that when i started funding this there was a state limit to how much these accounts could grow, but they've been indexing that. Like how big they could be overall. But they keep indexing it for inflation, and I haven't run into an issue because I was at first loading this up. I have pulled back to a degree because now I'm doing more complicated estate planning, and there are limits, and that's why you'll need to work with your specific situation. But I think for most people, it's a pretty good while before you have to worry about that. And there is that website, and I screw this up every time. I think it's nrcc.org. Dot org? Yeah, is it? Is it? No. That's not it. Type in ABLE Accounts National Resources. This is the problem with doing a live show. That's okay. Keep talking. ABLE, A-B-L-E-N-R-C.org. There you go. A-B-L-E-N-R-C.org. Yeah. If you go check it, great website. It lets you go state-specific because there are different rules depending on – just like 529s are state-specific, ABLE accounts are state-specific as well. So you need – that's why I love a good aggregation website that kind of gives you an overview. And I'm very proud of – the state of Tennessee was one of the front-running states, very proactive on it, and I've been very pleased with their plan. Great. Did that help? Yeah, that was awesome. It was great. Tim, thank you for the question. If you would like a MoneyGuy Tumblr as a thank you, email winner at moneyguy.com. We'd love to send you one. And for anyone curious about ABLE accounts and more of the things that Brian was talking about, remember we do have that deep dive e-book for free at moneyguy.com slash resources. By the way, somebody turn on the bat signal. I hear that Erin Talks Money was in the room too. She was. So she heard we were talking about collaborators, and she's like, ooh, let me get in there on that. She must. I said, Erin, some folks were saying we should collab. What do you think? And she said, yes. Oh, and that's a great idea. We should do that. Y'all are so bad at this. I'm just saying it's an idea. It's awesome. We should do it. It's a great idea, actually. I think we should talk about that. So spontaneous. And look, if we did, if we happened to collab with Aaron, the way that you're going to know about it is if you subscribe to the channel right now, if you have not subscribed, if you're just renting your seat, make sure you click that subscribe button. 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I'm your host, Brian, joined by Mr. Bo, joined by Reby and the rest of the content team in the wings here. Money Guy out. The Money Guy Show is hosted by Brian Preston and Bo Hanson. 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 and 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 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.