A new CBS report shows that the average person’s perception of how much they’ll need for retirement has changed dramatically versus four short years ago. Do you think the number is higher or lower? We’ll not only share that, but we’ll also dive into this idea of calculating the correct amount to save. When is it truly important to begin working on your retirement vision? When should you be more scientific about your overall asset allocation toward your goals, and when does it make sense to just save money? Today we’ll share all of those milestones and more as we help you calculate a retirement number that’s better geared toward your personal goals AND that’s only created when it actually makes sense to have a goal.
In our TikTok minute, there are property owners all over the world testing their insurance premiums. We’ll share how. We also take a call from Stacker Collin, who wonders which option to take for health insurance (pronounced IN-surance), since it’s likely he and his spouse will be working for the same company. Of course, we have some fun out on the back porch talking all things television, and more.
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201
Enjoy!
Our Headlines
- Here’s how much Americans say they need to retire — and it’s 53% higher than four years ago (CBS News)
Doug’s Trivia
- What does FICO stand for?
Better call Saul…Sehy & OG
- Stacker Colin from Northern NY has a question about how to handle employer-provided insurance plans for him and his wife, given that they will work for the same employer.
Have a question for the show?
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- Check out The 201, our email that comes with every Monday and Wednesday episode, PLUS a list of more than 19 of the top money lessons Joe’s learned over his own life about money. From credit to cash reserves, and insurance to investing, we’ll tackle all of these. Head to StackingBenjamins.com/the201 to sign up (it’s free and we will never give away your email to others).
Join Us Friday!
Tune in on Friday when we’re discussing all things kids and money with three experts on the subject: host of the Art of Allowance podcast, John Lanza, high school finance teacher and the FIRE Community’s top kids and money educator, Rob Phelan, and finally, founder of the Wealthy Kids Investment Club, Maya Corbic.
Written by: Kevin Bailey
Miss our last show? Listen here: Quit Your Job, Find Freedom (with Janesse Torres) SB1514.
Episode transcript
I mean, you’re living in your mother’s basement right in the blog on finance, really, you should stay off the computer sign and get a job. Seriously. Live from Joe’s Mom’s Basement,
it’s The Stacking Benjamin Show! I’m Joe’s Mom’s Neighbor,
Doug, and today, how much money will you need for retirement? A recent CBS News study shows a number that’s much higher than previously thought. We’ll break down how much you need and how to get saving for it.
For our TikTok Minute, it’s SPRING! Time to test your insurance packages. That sounds kind of dangerous. Plus, we’ll hear why Stacker Colin said, “You know, I’d better call Saul.” See high in OG.
OG.” And then I’ll share some impartial trivia. And now two guys who deserve some credit for my fame, it’s Joe, and oh, G -G -G -G!
Wow. Welcome to the kinder Jettler Doug on Wednesday. Happy middle of the week to everybody. This is the Stack Your Benjamin Show, the greatest money show on earth. Sit back and relax because you found us and we’re about to hopefully help you get a better retirement,
help you, well, not test your insurance products and more today. We’ll share exactly what we mean there. But first, let’s share the man across the,
well, what used to be the dinner table. Now is the. the little card table in the basement, Mr. OG’s here. How are you, man? I’m so grateful that Doug’s got that like glass wall between us and him.
So he can you can see his mouth moving. And you’re like, oh, I don’t have to pay attention to that because he’s on the glass wall. We call it the soundproof booth, like all the great drummers. They have those those plexiglass.
Sorry. Sorry, go back. Go back about you. Yes. This is this is the wall. that needed to be built. We’ve been talking about building walls a lot in America lately. This is the wall right there.
That’s good. We could just make it so he couldn’t hear us. That would be chef’s kiss. Oh gee, you know, we’ve been talking about retirement. Are you talking about Doug’s retirement? Is that the deal? Every day I think about it. Think about helping him plan out the perfect retirement.
Thought and pray, light a candle. Do all the things. Doug, I’ll work for you for free. Yes. Thoughts and prayers. Doug, thoughts and prayers. We got a great show. Hope and optimism. And you know why we have a great show?
We have a great show because it’s free. And you know why it’s free? Because we’ve got some kick ass sponsors. And here’s just a couple minutes of some of the people that pay for this for us. All right.
Thanks to our sponsors. Thanks to all of you for hanging out. We got a show to remember here. So let’s go. Hello, darlings. And now it’s time for your favorite part. of the show, our stacking Benjamin’s headlines.
Our headline today comes to us from CBS News, written by Amy Peachy. CBS OG has done a new study about how much Americans say they need to retire.
It is substantially higher than what they said four years ago. How much money do you think Americans think they need to retire? You think it’s higher than four years ago or lower than four years ago?
In your savings account? Oh, that would be great. No, no, no. Great start. Yeah. Wouldn’t that be great? All in your savings account. Oh, it’s significantly higher now. Like this is what people think. This is an estimation of feelings they feel.
So this isn’t exactly what you need. This is what you need. This is what people think you need. This is what we feel I need. That number is going to be higher today than it was in 2020. Significantly so,
I bet. Northwest Mutual did this study back in 2020. They did again this year. The answer was insurance. Oh, sorry. Too soon? Yes. Right. How much higher do you think? It is higher.
So maybe it could be a percentage higher. I believe it’s 50 % higher. Wow. Wow. The number. 53 percent higher. Nice job. People now think it takes 1 .46 million to retire comfortably.
By the way, Doug, just so that people get a little view behind the curtain, neither you nor I pressed the applause button there. Just so people know who was giving who the applause.
Am I allowed to talk? Am I allowed to reply to you on that or is that just preferable? preferable to just smile and nod? It’s a 1 .46 million dollars, 53 % more.
But the bad news now it’s time for the bad news. You want the good news, the bad news time for the bad news. Most people are far from reaching that objective with the study finding the average amount held in retirement accounts today.
Eighty eight thousand four hundred dollars. Oh my goodness, I’ll be here all week folks. Doug, Doug, can you move the wall? It’s time for us to move the wall,
ladies and gentlemen. Put the wall between OG and his effects, please. And the wall is being moved. Oh, for God’s sake. God. A $1 .37 million gap between their savings and their retirement aspirations.
That’s a big number, OG. What’s surveying here? And the reason I ask for this is because, you know, if you’re thinking about it, and you’re 40, you’re 45, you’re 30,
you’re 50 even, and you’re going, “I got 200 grand. I have 300 grand. And I think I need a million five.” And you feel like you’re way far off.
But the power of compounding is so awesome that you just need to keep on investing and let it do its thing. If you just have your money invested in stocks, it’s going to likely double every 7,
8, 9, 10 years, give or take, depending on how things shake out. That’s historically the case. If you’re 40 and all I’m using air quotes,
all you have is $300 ,000 saved today, that’s doubling at 50, 60, and 70. Yeah, I mean, that’s 300 turns to 60. to 12 To 2 and a half million by the time you’re 70 without adding any more money and that’s probably worst -case narrow using a 10 -year number so I feel frustrated when I see these sometimes because people look at it go.
Oh my god any million half dollars But you know Matters and it really matters. Are you 64 with 300 grand? Yeah, you’re you’re gonna work a little longer probably probably.
That’s a good point, is that Amy and company don’t give us an age here. And if we have median age in America, let’s say that it’s mid -30s, 37,
38 years old, that we’re not as far behind as people think that they are. Now, of course, that million -dollar number also is increasing as well. So, you can’t wait and just say,
“Well, I’ll wait until I’m 50 to start saving my million.” because the million then is 2 million because the power of compounding works both ways.” The pricing power, the stock market,
your investments are going to double maybe every 7 to 10 years. Your pricing power is going to be cut in half every 20 to 25 years. That’s the trade that you make.
That’s why you have to invest in ownership of companies because anything other than that, you’re not going to be able to do that. You’re not going to be able to do that. keeping up with that inflation change. You look at, you know, your savings account rate is paying 5%,
but how much does it cost to get a mortgage? Seven. What’s inflation? Four and a half or five. Like, there’s a reason why interest rates on your bank are high right now.
It’s because inflation sucks also, you know, I mean, and interest rates. So, you can almost have a proxy for what’s going on in pricing and what’s going on in your purchasing power. You don’t even actually need to forecast that.
You can just go, “Well, I remember going to the grocery store a year ago, didn’t cost me a hundred dollars.” You know, now it does. You can feel it. Thinking about that into the future, it’s very hard to imagine that if you’re 40 today,
by the time you’re 65, milk’s going to be 15 bucks a gallon. That just doesn’t seem, like you’re like, “Yeah, that’s crazy.” But, if you’re 40, you remember going to the grocery store a year ago.
getting milk for a dollar. Like it used to be a dollar a gallon. Eggs were 49 cents a dozen, and now they’re $1 .50 or $2. You know what I mean?
Like that just happens except in some really small sectors of the economy like energy and that sort of thing where it’s heavily subsidized. So you have to– – But even there.
- Well, yeah, it certainly goes up, but it doesn’t go up in the same way. rate as everything else because there’s a lot of a lot of things You know an interesting thing thinking about inflation. I was thinking about this the other day How many people in their financial plans account for their mortgage being gone?
You know mortgage is a big expense, right? You know a couple thousand bucks. Maybe huge Yeah, I mean relative to your outflow and you go. Hey by the time I’m retired. Whoo, that’ll be paid off I’ll challenge you to look at your property taxes and your house insurance and run some inflation calculators on that just using normal inflation because obviously I was thinking about this the other day.
Yeah. This is horrible. Yeah. You know where I’m going with it. This is a nightmare. You know, so your property taxes and your insurance are all are going to continue to increase, right? Because the value of your house hopefully goes up so and so forth. There is a strong likelihood.
Let’s say you just got a mortgage. You’re 30 years old. You got your forever house. You’re like, Hey, by the time I’m 60, I’m gonna be free. free and clear. Guess what? There’s a pretty good chance that your property taxes and insurance will cost the same in 30 years now as your total mortgage payment is today.
I don’t believe I. Boo. Oh, gee, sucks. Oh, gee, suck. Amen. Amen to that. Yeah. I just don’t think that it’s a good idea from a planning standpoint to take that housing.
line item out of your budget in retirement, because those numbers are going to keep climbing, and you need to account for that. Now, if you’re closer to retirement, that doesn’t work out as,
you know, it works a little bit more favorably. But still, your property tax is, you know, talk to somebody that’s lived in your neighborhood for 30 years. I bet you the first, “Oh my God, when I was here, it used to be $300 a year.
Now those SOBs charge us $3 ,000 a year.” It’s like, “Well, what do you think’s gonna happen over the next 30 years? I don’t know that it goes 10X, but it probably doubles. It probably triples.
Compare that against what you’re already paying. So I’d be interested to hear from people who are already retired, who have to see whether or not this has happened.
This would be a fun thing for people to write in on. – Well, and this is what I’d like to do. I’d like to, well, first of all, all, when you talk about savings, let’s go back to that and the fact that you have to invest in something that beats inflation,
right? The ownership of companies beats inflation. And that’s why you do that. And that’s why we always recommend when you’re starting out, don’t overthink it. Start with a very simple index, like the total stock market index,
the S &P 500. Don’t spend a ton of time, like people in their 20s do, worrying about what to invest… invest in, just get invested. And if you’re in one of those broad indexes like the total stock market or the S &P 500,
you’re just getting a little bit of everything. So you’re going to go where the economy goes, and you don’t have to worry about it. You know what you can worry about? Making more money, improving your income, which we have guests on here all the time talking about how to improve your income,
how to negotiate raises, how to be better at your job. do those things, get your career moving, stuff as much money away as you can. When do we start getting analytical then,
OG, about exactly what this number is? Because I think for people in their 20s to think too much about this number, like, “Oh, what’s my retirement number?” If you’re in your 20s, just save as much as you freaking can.
When do we get granular and get the end of mind? Well, I also think that what happens… from your, I’m just getting done with college and I’m starting a family and I’m, you know,
my career is kind of progressing and that sort of thing. You haven’t really gotten into what you really like to do yet. You’d like to do stuff when you’re 20, but you do different things when you’re 40, probably. And you know,
you find some passions, there’s some people out there who talk about charitable giving. It’s like, oh, I should, you know, you should give away, you know, X percent of your income or, you know, whatever you believe in. And there’s some strong proponents to saying,
“Don’t donate money when you’re young because you don’t know really what you care about yet. Donate. Put it into a donor advice fund. You know, build the muscle of donating funds, but just let it sit there and grow until you actually find the thing that you’re really passionate about or the area that you want to have some impact on.” Yeah.
Because you’re 22, no offense. You have different opinions than when you’re 42. right? Just, you know, life kind of evolves. I think that somewhere in that kind of early 40s to 50s range is a really great time to be starting to think about,
you know, we’re in our peak earning years. We’re also in our peak spending years. So what does this look like from a spending and investing standpoint into the future? No one’s going to retire early and take a step back in lifestyle.
You know, let’s say you’re spending $5 ,000 a month and your lifestyle costs, that’s how much everything to make you happy costs every year or every month, you’re not going to retire early and drop down to $2 ,500. Generally speaking,
there are some people who do that, but by and large, and you’re certainly not going to do it early in my experience. So when you have a pretty well -established kind of rhythm to life and you’re in your 30s or 40s or certainly by your early 50s,
I think that’s that’s a good time to start putting some pins in the wall of like, here’s where our spending looks like. Plus, you also have the experience of having seen inflation over your lifetime.
You know, when you’re 20, the vast majority of your life, you haven’t been responsible for spending things and certainly not responsible for earning. So you haven’t had that experience of watching those,
you know, those cash flow changes over the years. When you go from 20 to 40 or 20 to 50, you see an entire cycle of that happen. You see that doubling or tripling of expenses. It’s a little bit easier to believe that it will happen again in the future,
although I still think it’s hard to imagine that milk will be 15 bucks a gallon at some point in time. Yeah. I think the earlier you can get granular, the better because basing it on your own goals,
basing this number on your own goals versus just a kind of rule of thumb, the stickier it’s going to be the more you’re like, this is what my retirement looks like. That’s what gets me excited about early retirees is when they go,
Nope, I want to retire at 45 years old. I want it to be on X amount per month. Here’s how I’m going to spend that money. Like the reason I like that goal isn’t 45. It’s the fact that they are envisioning exactly what this is.
And that makes this saving so much stickier. It makes their strategy. strategy stickier And you know when the games behavior, I think I think that helps But I know some people worry about oh,
I got to get this number exactly you never have to have the number exactly right You’re never gonna have it. Sorry Doug. Go ahead. I take exception to one thing you said earlier Joe Or you said you know people get really stressed about what should I invest in and you said just don’t worry about it Just get invested.
I took your advice. What did I invest in Rivian? Rivian. I didn’t– OK. But he also said invested in an index, bro. Broad -based index fund.
So you get one of everything. He didn’t specify that to me. Oh, yeah. Dude sits there with us. Maybe that wall is too thick for him to hear through. I believe also he was told to sell his Rivian when it was $170 a share or whatever it was at.
I’m a value investor. I’m in it for the long haul. Excellent. Excellent. Oh, yes. Well, the good news is you get to become an even deep value investor. Deep value investor. Pretty soon you’re going to be a capital loss connoisseur for your taxes.
Figure out how well, how well that works. How long do I get to write off my $30 ,000 stock loss? Well, and that’s so let’s take Doug’s Rivian though,
and talk about another reason, OG, why it’s a good idea. to buy the index. And it’s partly because an index is self -cleaning. Let’s say that Rivian somehow found its way into the S &P 500.
(laughing) Oh my God, just a second. Oh my stomach. – You’re killing me. – Oh, it’s so great. But let’s say that it did, and then they stumbled. And then they stumbled.
If they stumbled, they’re not in the S &P 500 anymore, Doug wouldn’t even have to sell that position. And then the S &P 500, takes it out automatically. So in terms of, you know,
how many times, oh, gee, if you and I see portfolios where you’re like, Hey, this doc has been crap for the past like 18 years, like, you haven’t been meaning to sell that. But I just think someday they might come back and it might be,
you’re like, No, if you buy indexes, Polaroids, Polaroids, right? If you buy indexes, it’s self -cleaning. It takes care of, you don’t have to worry. about making these emotionally -based decisions.
The S &P 500 is going to clean it out for you. The Vanguard is going to clean it out, but whatever it is, it will clean it out. Well, and the reality is, is that if you look at the S &P 500 in any given year,
you’ve got probably a 60 % chance you’re going to guess wrong in terms of which stocks to buy. There’s 500 positions in the S &P 500, 375.
375 of them are losing money this year. And the other 125 are profiting, you know, are going up. And as has been the case in the last couple of years, when you look at those 125 positions that are up or that are,
you know, positive for the year, it’s really like 10 positions that are skyrocketing and that pull all the rest of it up. So, you know, you look at the odds of being successful.
in picking those things. It’s easy to look in the rearview mirror and see this, by the way. I can talk myself into going, “Kali, how did I miss NVIDIA?” They make these AI things.
I probably should have seen that comment. You go, “I could probably do that. I could see that.” In the rearview mirror, you see the experience. It’s very hard to do that in the future,
and it’s almost impossible to do it consistently. in the future, which is why the whole idea of pooling your money and buying one line item that has all 500 stocks and it makes a ton of sense because you don’t have to worry about trying to literally pick the one in four chance of being right or not just being positive for the year,
but more specifically the last year, the seven stocks that pulled up 50 % of the portfolio, you know, it’s like you can, in the review mirror, see that and go, “Well, yeah, obviously, tech.” But guess what?
It’s not going to be tech always. It’ll be industrials. It’ll be oil and gas or it’ll be real estate or whatever sector. And trying to do that consistently, heck, doing it one time is impressive.
Doing it consistently is unheard of. It just doesn’t actually happen. So make it easy on yourself. I love this idea of making it easy at the beginning. Just say that. as much as you can.
Get granular when you feel like you’re able to. The sooner the better, but don’t freak out about that. Don’t freak out about the investment to get. While the time for you to figure out what your retirement goal is maybe later,
and that’s a time that you pretty much define on your own, I think there’s a much better way to decide when to go from this single fund approach. to something closer to the Efficient Frontier,
something closer to a better diversified portfolio. A friend of ours, Paul Merriman, did this wonderful piece about taking $100 ,000 and instead of just buying the single index,
which is the easy way to start and the way you should start, how he made a lot more money. I think he made $4 million more over 40 years by being more granular with his asset allocation.
allocation. So, just by spending an extra 15 to 30 minutes a year on your portfolio, you can make a lot more money. But I think the time to do that, OG, is probably best in what our friend Nick Magiulli mentioned of dollars and data,
when he said when your portfolio, pick a timeframe in a week, in a day, in a month, whatever it is, when your portfolio goes up and down more on its own. based on what is in it versus the amount you’re putting in,
that’s the time you probably want to get more granular around your asset allocation. Do you agree with that, that that’s when we should finally start, you know, maybe go to three, four, five funds instead of one?
Well, I think it’s a good starting point. I mean, I could totally see, you know, $100 ,000 portfolio. portfolio moving $15 grand a year, or I’m sorry, $15 ,000 in a,
you know, in a few week period, you know, minus 15, and maybe you’re putting $1 ,000 a month in, you maybe you’re putting $500 a month in type thing. And so you got to be careful with that.
I feel like that’s a good place to, when you notice it, right? And I think that’s his point with that is, you know, when you start noticing like, wow, this thing is really. really done great,” or,
“Wow, this thing has really got its face kicked in,” that’s a good time to say, “All right, is there an opportunity to add another layer of diversification?” But I like that. That $80 ,000 to $100 ,000,
I think, is a pretty good number. That’s about what he’s saying. Yeah. I mean, that could be about right. I could also see, you know, if you’re doing it in conjunction with the amount of money that you’re putting in also,
you could unnecessarily unnecessarily have an– see, you’re only putting not only– let’s say you’re putting, I don’t know, $500 a month in, so $6 ,000 a year, your portfolio is going to swing more than $6 ,000 over a period of time.
Well, that’s my point, is when the $500 it moves on its own without that $500 is more than the $500 you’re putting in. Yeah. Yeah. So you’re saying that’s about the right time, $8 ,200? Yeah,
that’s about it. I mean, could even think about it at $65 ,000, $70 ,000, but– probably get to $80 ,000, it’s time to go. Yeah, and you don’t have to get super crazy with it. You’re looking at going from having all US stocks to maybe adding some international or all big companies and adding a little bit of small.
And with three or four funds, you can be fine. And you don’t even have to change the funds you’re investing in right now. You can just start investing in new funds with your new contributions to,
you know, if you’re worried about tax issues or something like that, just say, “All right, you know, I’ve done the last five years of investing in this. Now I’m going to start investing a little bit of my monthly contribution in my 401 (k) or in my brokerage account or whatever and use this international fund or use this small company fund.” It is amazing how a little bit of work can actually lower your volatility,
improve your returns, but that doesn’t happen when you’re 25. I see too many 25 -year -olds using these, you know, these… products that are made for hundreds of thousands of dollars. And it doesn’t make any sense to me.
Just get the money invested. Get it invested. Correct. We will dive even further into this in the 201, like we do every week, stackabedgements .com /201.
That’s our newsletter that where we really go even nerd out more. So if you’re all into retirement, should find your number about this idea of the Efficient Frontier that we brought up about how these index funds work,
what is an index fund, we do all of our definitions over there, we do all of our deeper dives in the 201, always free and twice a week, every week that we’re on the air.
Coming up next, we got a great call from a stacker who said, “I’d better call Saul C. High.” and OG.” But before that, Doug, you’ve got a trivia question for us today that I think might stump a couple people.
Sure do, Joe. Hey there, stackers. I’m Joe’s mom’s neighbor, Doug. You know, I spent the day yesterday working in the garage on the old El Camino. Got her just about ready for car show season. I entered her in like a dozen competitions last year,
but she kept getting beaten by some dumb old Thunderbird. Poor gal. That got me thinking. We’d have a lot of fun. better odds of winning if I had two cars in the show. – Restification. – Yeah,
I mean, it’s simple math. Can’t believe I hadn’t thought of it sooner. Actually, when you think about it, it’s a great investment. Both cars will only get older and more valuable every year. As cars do,
when you really think about it, it’s actually financially irresponsible to not get another car. I’ve gotta go tell OG about this. But first, I’ll… I’ll have to apply for a loan.
Let me just check this app here. Wait a minute, what’s this weird word FICO I see on here? Today’s trivia question is, Steve,
hold on. That’s not the music, that wasn’t the… Well, all right, I guess we’re going with it. What does FICO stand for? I’ll be back right after I see whether or not Josh really has a clue.
a break. drive some sweet collector cars to narrow it down.
Wait a minute, you know what? I should ask a woman to join me and I’ll like really make a date out of it. I am on fire today. I got all these great ideas. So today’s trivia question is what does FICO stand for?
The answer? FICO is a scoring system that factors in your payment history, credit age, and overall credit usage, among other things, to determine how responsible of a borrower you might be.
While it seems logical that FICO would stand for something like financial information credit odometer, probably, it’s actually named for the company’s founders William R.
Fair and Earl Judson Isaac, making it the Fair Isaac Company. In fact, since 2003, the official name has been the Fair Isaac Corporation.
And now back to a couple of Frico’s. See what I did there, you know, FICO, Frico, Joe and OG. – Hey, you know what I forgot, guys? I totally forgot the DicDoc Minute.
That’s how rusty we get with just one week off. Fair Isaac Corporation, what, I was wondering, Doug, early in my career, like, where the hell did they get that name? – Oh, ’cause you don’t think Fair is a name. - Right. – I thought, well, Isaac, Isaac sure is into himself. Like what a braggart. I’m so fair and lovely. – Fair play, Gov. – Wouldn’t that be better? Fair and lovely, Isaac. Time for our TikTok Minute.
This is part of the show where we shine a light on a TikTok creator who is either saying something brilliant or something air quotes brilliant. Oh, gee, which one do you think we got with us today? – Hashtag, hashtag brilliant. – Oh,
you know what? I think this is brilliant. – It’s gonna suck. – The thing that TikTok creator did today was they paired this up. that first came from a commercial with videos of people doing exactly what the commercial you’re about to hear is talking about.
So we will, on the show notes, show you the video, but you can imagine just how great this video is. A fantastic audio podcast. Yes. Showing a video. I’m going to tell you right now the video doesn’t matter. My friend Robert sent this to me and the video doesn’t matter because you’re going to get it immediately what the video is all about.
about because we’ve all seen this person before. It is springtime in America people, time to test out your insurances on your various equipment.
Here we go. Today we salute you, Mr. Boat Trailer Backer Upper Guide with a total disregard for those pesky side mirrors in eighth grade physics.
you perform the delicate yet daunting dance known as the Boat Ramp Ballet. ♪ Believe in yourself ♪ Every turn of the wheel is a mystery as you transform a routine boat launch into a jaw -dropping spectacle igniting public ridicule and $20 side bets.
♪ I don’t think so ♪ With the focus of a NASA engineer landing the Mars rover, you masterfully bend space and time. to fit your boat exactly nowhere near the intended target.
So here’s to you, oh master of the marina, because the chaos of a Saturday afternoon is your stage to shine. Thank you to my buddy Robert for sending that to me.
That’s so good. He’s the, he’s general manager at our local, at our local bank. We’ll give them a little plug, guarantee bank. guarantee bank in Texas or Canada, Texas. Disregard for eighth grade physics.
But how many times have we seen that at the boat launch, like a hundred times? Like a really, really, you can’t back up this, like, why don’t you spend 10 minutes in your driveway at home,
practicing this before you’re in front of 80 people who just want you to get your damn boat in the water. Great thing to go to the boat ramp and see, and it happens both on the put in and the takeout, but more.
on the takeout is all of the marriages that completely collapse because the dude’s behind the wheels. The spouse is supposed to be, you know, securing the lines and he’s just screaming at her like,
she’s got anything to do with this. It just there, you just can’t look good doing that. You’re just a complete tool. – I gotta tell you, I tried to drive a houseboat last summer out on at Voyager National Park.
And I go to the point where I was like, Doug, where it wasn’t about parking that houseboat. I actually had to go out on the front and say, I just need everybody to shut the f**k up and stop telling me what to do. It’s funny.
That’s the same thing you say to OG and I when you drive someplace. I know. How is that different than any other sort of conversation that happens? We had a road due to drive a vehicle on hard surfaces, let alone a boat on water.
Who said you could do that? I went through a fair number of propellers on that trip. Thank goodness they’re rubber. Those are easy to change on a houseboat. Oh,
they are. They actually are. They’re made of rubber, and they take a hammer, and they hammer them on because you ripped the crap out of them, apparently. I don’t think you’re supposed to. No, no, that’s not the theme, OG. That’s not the theme.
That’s not what we’re going for. You said the quiet part out loud, Joe. Wow, there was some anxiety and anger wrapped up in this houseboat conversation around propellers. Or we need to– more. I need video. I’m going to have to talk to Cheryl and see if there’s a video of this.
Here’s to you, Mr. Houseboat Driver. There’s got to be a video of this somewhere. Because they’re making those out of, yeah. No, it was really fun. Just because you’re a podcast host and think you know a little something about everything doesn’t mean you can drive a houseboat.
You can drive a houseboat. Mr. Guy from Texas who never sees water in a given week. Well, let me. me do it now. I’m not going to go into that. Let’s let’s say I was going to give you more on this topic, but I don’t think anybody wants that everybody’s like,
weren’t we doing the better call? So we realize this whole thing turned on him. No, it’s fine to turn on me. But I got to tell you when you’ve got nine people on a houseboat, one of them has the wheel and eight of them are telling you how to drive.
And they all have a different opinion that that’s I would love video on that. God, I’m. going. I’m going. I was about with Joe this summer. I know how to be helpful. Doug, you coming?
Please. We get a 12 pack. We don’t have to go anywhere. We just be like, drive us around, driver boy. Just go hit something. Just, you know, we’ll just both get us sit there and be like,
no, it’s in reverse. Use, use the beta. You got to use the forward, not as much. Use the cosmic thrust. Check the jib. Trim the lane. All right,
are we done here? Are we turning port or starboard? Starboard on my side. Looks like we’re doing them all. Hey, time for us to ask.
Look at the time. Yeah, who thought they better call Saul? See, I had no G at this point in the show. We pivot quickly into the segment where we find out why.
Somebody said, you know what? what? I got to call OG and ask a question.” Today, it is our friend Colin who’s got a question for us. Hey, Colin. Hello,
Joe, OG and Doug. This is Colin from Northern New York. I have an insurance question and I’m hoping that you guys can answer. And no, lucky for you, it’s not another life versus term insurance question.
Oh, but we love those. I’m finishing my MBA and returning to the work world. There’s a a chance that I’m going to be working for the same company as my wife. Our health insurance is currently a family plan through my wife’s work.
Looking at the policy costs, the single plans are much cheaper than the family plans. My question is, if I end up working for the same company as my wife, can each of us sign up individually for health insurance instead of using a family plan?
Based on this year’s insurance rates, we would save $110 per pay period. or $2 ,860 for the year by having individual plans instead of a family plan.
The employer does not offer a deductible option, so there is no consideration needed for HSAs. The total out -of -pocket coverage per individual is the exact same whether you have a single or a family plan.
Also, we are not planning on having kids, so we don’t have to worry about coverage for children. I appreciate your advice. and thank you for the years of enjoyment listening to the show. I’m hoping to make it to the Boston Meetup.
And so hopefully we’ll see you guys there. Thanks. Colin, thanks for the call. It was great seeing you in New York at our book tour. Northern New York and he’s going all the way to Boston. That’s a fan. Well,
he’s, I think halfway between the two cities. So Albany. Cool. Awesome. Thanks, Colin. Yeah. Yeah. Colin, congratulations, by the way, on the NBA. MBA. I also know how hard Colin’s worked on that.
He joins us in the basement. This has got to be the Colin, I think it is. Oh, gee, this is an interesting conundrum. Are you allowed by your employer to do the two single plans versus the family?
I think there’s a missing piece of info here. A lot of plans also have employee plus spouse. Maybe it’s different. Maybe it just jumps from employee to family. But family intimates.
kids. Our health plan, for example, we have employee, employee and spouse, employee and kids, or family, which is two adults and virtually unlimited number of children.
So I would be wondering, you know, maybe they’re just showing you an abridged version of hear your options, employ your family. I would check to see if there’s an employee plus spouse option, which would lop off the kids part and probably gets you a lot closer to two single numbers.
It doesn’t make sense that two adult singles would not be the same price as employee plus spouse. It’s, it’s got to be virtually the same. If that’s not the case,
and it really is just employee or family, then I think I think you just have to ask them if you’re allowed to do it. It seems to me that it’s going to be planned specific. But I mean,
I, I understand why you wouldn’t be able to do it, but maybe there is some reason why. – Yeah, well, don’t forget also, when you are signing up as a single, they ask you the question,
does your spouse have access to, almost every plan I’ve ever seen does this. They ask you, does your spouse have access to health insurance through their employer? And in a weird way,
you have to say yes to this, even though it might be the same employer. employer. And if you still choose to opt for getting your own insurance, let’s say you were gonna work for different employers and you said,
“Yeah, I still wanna get my own.” They’re gonna charge you more because you’re choosing not to go with your spouse’s employer’s insurance. So I don’t know how all of that’s gonna factor in when it’s the same employer,
but I bet when you then try to sign up and say, “I’m gonna choose the single option.” If it’s even, I’m kind of with OG on this, but if it’s there, there, I bet you they’re gonna ask that question Does your spouse have access to health insurance? And if you say yes answering truthfully,
I think that cost is gonna go up Versus what you see there on the page for single insurance. The other thing I’m thinking about here Doug This is that’s great point. Obviously you’ve got some insurance industry experience here What kind of insurance do you have right now if your spouse is working and you’re not working or at least maybe Well,
maybe he is working, but if you’re not working working and your spouse has coverage, then you’re, aren’t you covered right now anyway? So like, can’t you just– – Well, he’s probably on the family plan now. He’s probably on the spouse’s family plan. - They’re not kids, so I think what OG said earlier, which is spouse or employee and spouse. – Employee and spouse, yeah. That’s a great question. – Yeah, so anyways, I just kind of dig into that a little bit more.
Again, maybe you’re just seeing the abridged version, and you talk to your friends at work, and they go, oh yeah. yeah, you know, it’s $1 ,500 with the family.” And you just kind of are using those terms. There’s probably employee -employee spouse,
because there’s probably also employee… There’s probably people that work at your company, it depends on size. But undoubtedly, there’s single employees who have children also, right? And you’re not covering two adults there. So generally speaking,
there’s another two options in there that you might not see. So just check on it. And then, yeah, I think you’ve got a pretty pretty strong case. If all that is true, to go to the HR folks, be like, look, this makes no sense for me to have the employee plan.
I’m going to do my single. And Susie’s going to do her single. And that’s what we want to do. Deal with it, yo. Yeah.
I can’t see a reason why it would harm the company in any way, shape, or form. I mean, it’s got to be the same number. So good question, though. Insurance is so complex, right? And then,
and then the only thing, hold on a second, the only thing that I’m thinking of here, just to add a parenthetical would be family deductibles. If you’re running two policies simultaneously,
you could run into an issue where it’s like one person uses a bunch of insurance costs, and then another person needs to use it. And now you’ve got to run your your deductible all the way up too because each plan is going to have individual deductibles and then family total.
And so, you know, by having two separate plans, you could run a scenario where it’s like, “Oh, crap. We both have to max out this huge number in order to have the rest of the coverage taken care of.” So,
be aware of that also if you’re going to, you know, don’t be Pennywise and Pound Foolish here of like, “I’m saving $100 a month, but I got to pay an extra $7 ,000 of health costs before it’s covered. So just check that out too.
Make sure. I think you’re going to find employee plus spouses available. That’s my, I’m going to, I’m, I’ll bet a pile of, well, maybe not a pile, but I’ll, I’ll bet a book on that.
You know what else is really complex about this whole topic is just saying the word correctly. You’ve shown us that, oh gee, time and time again. What’s the word? Insurance. Insurance.
No. Yeah. Insurance. It’s not insurance. It’s insurance. Insurance. Ah! Try to make me crazy. Not insurance. It is insurance. It’s not insurance.
Insurance. Well, this is a scintillating topic. You better go to the library and check. I do have one more piece here, which is, I think there are some things that you really want to watch out asking your HR department about,
and there’s other things. where you want to dig in and really ask them. And I think this is the type of question. Working for your spouse would be one of these things you want to dig into before you take the job, by the way. That’s right.
Yeah. I might work at the same companies like hold on a timeout. Make sure they know that before they offer you the job, right? Yes. Yeah. Yeah. That’s a big one. One’s not to ask,
by the way, what is your severance policy? Yes. – Yes. – How much time off is acceptable in a year? Is it another one that I might stay away from? – Golden parachute. – Are you single?
That’s not a good one to use. – Are you single? – What are you doing Friday night? – Yeah. – What’s a policy on dating people in HR? – Tell me about your shoe size. – That last one might be a little creepy. – Exactly. - What do you think about clowns? – But I think this is a good one. I can’t think of a reason why you wouldn’t go to your HR and ask them this. Say, “You know, I’m looking at these two policies. There’s got to be something I’m not getting.” Yeah,
for sure. Because can I do this versus do this? And your HR department should be very happy to. The thing we get from people, from Suzanne Lucas, the evil HR lady to any HR people we ever have on the show,
is always people don’t talk to them enough. They’re so excited to share how benefits work and how to use. benefits better, and people don’t ask them enough questions.
So I think, Colin, going to your HR person, I don’t see any downside to taking this to them. Unless you use some of those weird questions that Doug was saying earlier. Yes. If you call it, what do you call it? Inch, insurance?
He’s going to give me some of that insurance. Yeah. I don’t know. Thanks for the question, Colin. If you’ve got a question for us, it’s a voicemail.
@stackinbenjamans .com and that takes you directly to the line to leave your question and we’re happy to answer it as succinctly as we possibly can.
Hope that helped, Colin. That’s an email address, Joe. There’s no @ symbol. It’s secondbenjamans .com /voicemail. So funny. This is me being sick. You just said voicemail @stackinbenjamans .com.
I did. Thank you. Bye. – And that’ll get you directly to nothing. – To nothing. Stackinbenchments .com /voicemail is where you go. And then you press a little button and then you talk. It’s super easy.
If you can do that on your phone, then your phone’s microphone will just pick it right up and you’re good to go. And then guess what? Like Colin, you’ll score a Stackinbenchments piece of swag. That is nearly all we have for today,
but we’ve got some fun happening out on the back porch, guys. Thanks. Doug, we’ve got our finalists in the joke off. Sorry. Time for us to finally make four months later.
We’re at the we’re at the end of this joke competition that won’t go away. Who are two really deserving leaders here. You just can’t lose it.
So we have two underdogs. I mean, this is the tournament that everybody hopes. for when we’re watching basketball in March and April. This is a nine seed versus an 11 seed.
It doesn’t get any more exciting than that. – Man, that’s fantastic. – So typically Joe, what we do is you read the higher seed and I read the low seed. – I don’t even have them pulled up. - Okay, you want me to read them both? – Yeah, let’s do it. – Okay, all right, here we go. Here’s the nine seed, the blue chip. program, the Kentucky of this tournament.
I saw my math teacher with a piece of graph paper yesterday. I think he must be plotting something. – There it is. – That’s from Jen with two ends. And up against the number 11 seed,
that would be what, like a UNLV or a New Mexico state. College is the opposite. of kidnapping. They demand $100 ,000 from you or they’ll send your kid back.
That’s for Melvin. – There it is. And those are good. – Yep, those are pretty solid. Karen’s gonna put, that’s why they’ve made it all the way to the final championship round. Of course they’re good. – We knew there were two good jokes in these 16. - So Karen’s gonna have those up in our Facebook page. If they’re not already there now, go check out our Facebook page. page, make sure you vote. And I know I’m sure a lot of stackers have done brackets,
like the bracket challenge, they probably thought they were gonna win a billion dollars or something if they got it right. It’s nearly impossible, but you never, I mean, you gotta go out and vote, figure out who the champion is. You’re in control of your own gambling.
I mean, destiny. So make sure you get out there and vote. That’s what it’s down to. – Thank you. – Melvin and Jen looking for more. Hope you guys good luck to both of you and everybody come down to the basement to vote.
I haven’t any new news on our meetups that are coming. Let’s just go through those briefly though. If you are in Cleveland on May 14th, we’re going to be at Bookhouse Brewing,
6 .30 p .m. Come join us and a lot of our local friends. Stackupedgments .com /meetup gives you all the the details on the address for Bookhouse Brewing.
It’s a nice little room. I love the friendliness there. We were there for our book tour a couple of years ago. Can’t wait for people to come join us out at Bookhouse. On the 16th in Detroit, we still don’t have a home as we record this a few days early.
Man, I would love to tell you what the home is. I think I know what it is, but we don’t have it yet, but if you go to– – Don’t do it, don’t do it. – Stackabedgements .com .com /meetup, you will find where we’re going to be.
Also, we’ll hopefully have it on our Friday recording this week. It’ll be somewhere in the Northern suburbs. And so it makes it super easy. Just cut across 696. There’s never any construction there. Drive around on 696 from anywhere from Grashit over to the airport,
or to 275, you know. Yeah. Yeah. Yeah. And, and, and you’re good. You’ll, you’ll get it. You’ll find it. The 17th of Kalamazoo is the one that’s the big up in the air. It’s a graduation weekend,
lots of schools. I’m going there for graduation myself. We’re probably furthest away on a spot there, but hoping that we have something nailed down here shortly for Kalamazoo.
And then we are on final approach on Boston on the 23rd. I would again love to tell you where that is. And we have two great locations that were on final approach with deciding between the two of them.
But it’s May 23rd. We’re going to kick off Memorial Day weekend, a day early, with a stack or meetup. And what do we do with those? We’re going to have a headline segment like we do here on the show,
where we’re going to talk about some current news and personal finance. But it’s going to be, instead of you listening to us on the show, it’s going to be everybody chatting about it together. I’ll be leading that discussion. And then we will have a feature segment with a guest that we can pepper with questions about their case analysis,
their financial situation should be fun in each of those cities. And then we’re going to do a back porch section. Of course, we’ll bring along some of Doug’s trivia. And in Detroit and maybe in Kalamazoo,
we’ll have Doug with us, hopefully. So going to be some fun in those cities. cities. stackinbedgements .com /meetup. Last thing we got is we want to keep people making sure that you know what to watch on your streaming services.
I tried to watch Black Sale the other day. Netflix recommended it. It’s a pirate show. I watched episode one and it was okay. And I just don’t know if I have time for just okay.
It was a little convoluted. convoluted, and I just didn’t know that I could get into it. Doug, Doug, you’re shaking your head or nodding your head. Did you watch it? – No, but I’m laughing at you saying, I don’t know if I have time for okay. Like, I’m a pretty big deal.
My time is valuable. – Well, I think all our times are valuable. But when you watch episode one, and you’re like, yeah, I don’t know. – Yeah, I’ve bumped into a bunch of those. I know about the show,
but I haven’t seen it. – Well, it’s gone through four seasons. seasons. – Holy cow. – Yeah, you know what it reminds me of? It reminds me of the way that it’s shot and the writing reminds me a lot of what’s the one about the revolution?
Turn, turned, turncoat, turn? – Don’t know, I don’t think I’ve ever heard of that one. – Yeah, I think it was called turn. America’s first– – American Revolution. – America’s first firing,
but I’m not sure if that’s the one or not. That’s what’s coming up, but it sure, sure– looks like it was So black sails just a meh. It’s kind of mid. Yeah.
Yeah, it was it was okay I’ll let you know if I get back into it and then I’m watching of course I love auto racing so when I saw that vice got together with Indy car to make a Series about the hundred days before the Indy 500.
I’m really into that, but I think you got to be a racing fan I don’t think it’s nearly as good as the formula one one. – So it’s funny you bring that up. I just realized I misspoke seconds ago,
I misspoke ’cause there was something recently that I really liked. I binged it all the way through. And you reminded me of it when you said, what was the F1, was that not full throttle? Is it full throttle?
Is that Netflix’s F1 series? – Drive to survive. – Drive to survive, yeah, sorry. Well, the golf version of drive to survive is full swing. And the seven – season, I liked a fair bit better than the first season.
I thought the second season was really good. – I always thought the first season made me do was made me think Dustin Johnson’s an ass. (laughing) – Yeah, yeah, there was some of that. Yeah,
the second season gets into some really cool storylines with Mark Fitzpatrick and his younger brother. – Oh. – Good storyline with Joel Dahman. Domen. ‘Cause he was like,
he got famous from season one. He’s kind of a, honestly, as far as PGA goes, kind of a whole on player. – Yeah, right. – Like 200th. – Well, that’s what they talk about. – But everybody loved his story. Yeah, they loved his story.
They loved his, he’s got some major health issues, but he’s got that great friendship and support from his caddy, and they’re just like best friends doing this together, them against the world. He became a huge star while he really struggles with that.
stardom in season two. And he kind of goes down in the rankings and he has a really big moment with his caddy where he’s got to face a big life decision. - Wow. – So that was really well done. And then there’s several other great, you know, Rory McElroy becoming the flag bearer for the PGA. And then the rug gets pulled out from underneath him when they announced the merger.
- Live. – Oh, God, that was amazing. And then the final two episodes, seven and eight, are about the last summer’s Ryder Cup, which they just,
those two episodes alone, that could be a standalone– – The Ryder Cup was a ton of drama. – Yeah, they did a great job of telling that story. So full swing, I’d recommend it. – I’m not big into golf and I really like full swing.
I’m not big into tennis and I like breakpoint. – Right, I thought breakpoint, though, when about tennis– tennis was really good too. I learned a lot about some really good tennis players and I love the psyche of tennis,
just you out there, you know, with your brain while you’re melting down in front of, you know, 20 ,000 people or whatever it is. If I remember right, the second episode of that highlighted a tennis star who really had some mental health issues.
They kind of focused on that. They did a great job of exploring just how challenging that is and dealing with it. Yeah. Those series are really well done. The IndyCar one is not done by the same group.
As I mentioned, IndyCar got together with Vice. I think they’re trying to pile on and see if they can get some people. It does go into who the drivers are and they do a good job, but I think you got to be into racing.
My problem with IndyCar, it’s almost unwatchable. And the reason it’s unwatchable is they have the worst announcer of anybody outside of Gus Johnson in all of sports.
Yes. This dude has a great accent, but he’s, he’s captain, fricking obvious. And they also have him call track and field at the Olympics, which is my,
as you guys know, is my favorite event, right? Being a former track runner at the Citadel. I love watching. watching track and field. I can’t stand watching track and field because NBC does it and they have this moron who’s like,
Oh, this is going to be the most epic race ever. We’re going to have the most epic. No, we’re not. It’s the semi -freaking finals of the 100 yard dash, you idiot. The one that actually has something behind it comes up later.
Everything’s amazing. So you’re saying IndyCar is unwelcoming. not because they drive around in circles for four hours all afternoon, but because of the announcer. But they don’t.
I mean, they have the cool thing about IndyCar is they have all different types of tracks. And these guys are testing what type of driver they are on more different types of tracks than Formula One,
the NASCAR. Some of them are NASCAR style tracks. Some of them are Formula One style tracks. Some of them are street course. I mean, they’re they’re all different. different. So I think the series by itself is really cool. But oh my goodness,
the until I get rid of that announcer, I’ll tell you a couple of other things I have seen. One’s really promising on Hulu is under the bridge. I’m almost certain it’s on Hulu,
but whatever streaming service it’s on. It’s really promising. I think we’re three episodes in. They haven’t released the subsequent ones just yet, but it’s a true story about a murder. committed by a whole bunch of teenagers in Canada.
I want to say British Columbia. – Good day, Mike. – Canada, right. – That’s the most amazing murders ever. – But it’s, I’m a sucker for anything that’s even based on a true story.
So this one’s, this one’s good. It’s, you know, we’re waiting for the next episodes to come out. It’s good enough that we’re anticipating the next episodes. And we just started watching The Veil, also on Hulu. Hulu is a spy thriller with Elizabeth Moss. - Oh, I saw this, I saw previews for this. – High production value. I just don’t know that the casting was that great. Elizabeth Moss is a wonderful actor, she’s incredible, but I’m not sure this is the right role for her.
- We’re watching Ben Franklin on Apple right now, watched episode one. – Kirk Douglas? – Yes. watched episode one and I liked it. – Michael Douglas. – Michael. – Yeah, Kirk, Kirk.
- Did he finally die? Did Kirk Douglas finally die? – Oh my God. – Like 148. – Do you know what Kirk Douglas would be saying if he was alive right now, Doug? (Doug laughs) – I’m still here. – Let me have this coffin.
That’s what he’d be saying. What, too soon? Yeah, Michael Douglas. And I watched episode one. one and it was compelling. We’ll see where it goes. But you know,
there was a show that I think we need to devote an entire back porch to because you’ve watched the entire series and I’ve watched episode one and that is Louder Milk. You know what?
I think my favorite part of this whole back porch was that the whole time we were talking about IndyCar, OG wanted to chime in so badly and he was on mute and I was not going to tell him. He’s just over there.
He’s trying to chirp into the mic. Oh, where are you? Weird flex about how many times I’ve gone to the Indy 500, but that’s cool How many times have you gone? I’ve never gone twice and it’s very amazing.
You should absolutely go into the brickyard I’ve been to the brickyard 400 twice. Yeah, I’ve done this one Yeah, India is some other world Because it’s so much faster upcoming trivia question a question.
But I think it’d be really fun. What sport was invented in the infield of the Indy 500? It’s taking the country by storm.
Invented by high school classmate of mine, guy graduated with. Oh, my God, was it pickleball? Slam ball. No. Oh, gee, you’ve been to one of these facilities. You’ve done this.
Oh, the full. foaling thing. – Foaling. – Foaling. – Yep. Foaling was a guy I graduated high school with and they would go to the infield. – Is that where you take a young deer?
Is this where you take a young deer? A foal? – Yeah. – And you see how far you can kick it? – Foal it down the. – That came out wrong. – Hey,
hey, Peter. Peter, Peter, send your hate mail to Doug. No, no, I don’t know. I mean, I don’t remember. He told me I don’t remember exactly what. But they it’s like football,
bowling and shuffleboard all mixed together. You set up the pins like bowling pins. Yeah, it’s just that you’re trying to throw the ball and you throw a football at it and try to knock it down.
Right. It’s like football and sharding and all in one. Do you do it? at a bar so you get super hammered and nobody cares? Right. It’s taken off. There’s folding warehouses kind of all over the country now.
They’re down in Texas. They’re in Atlanta. They’re in Indy. They’re in Detroit. They’re all over now. So it’s taken off. Man, one place we were looking at in Detroit that was very nice was called the Yard,
where they do axe throwing. And the woman was nice. She’s like, “We’d love to have you. I think it’s going to be too noisy.” for what you want to do. And I wrote, you know, thank you, probably would be. But the woman was talking about that.
And then, you know, every time I think about ax throwing, I’ve never done this. I know our buddy Andy at Marriage, Kids and Money is done. I don’t know if you guys have done it, but getting hammered and throwing axes, like what?
What does your insurance look like? Well, I was going to say it’s more expensive to do than you think because their insurance premiums are through the roof. roof. It’s got to be. Oh, no. You just signed a waiver.
Five. Go in. Four. Come out. Welcome to the yard. I love it. We should probably end there.
By the way, coming up on Friday before we get to that, we’ve got three great people who know kids and money. We’ve got a summer vacation right around the quarter. We’ve got financial educator Maya Corbett.
financial educator John Lanza and financial educator Rob Velen joining us on Friday roundtable. It’s an all kids and money roundtable on Friday. If you’re teaching any kids in the neighborhood about money,
you want to hang out with us coming up on the Friday show. And at the end of that show, hopefully, Doug and I will have more on our meetups and exactly where those are going to be. So tune in Friday,
Doug what should we have learned from today’s episode? – Well, Joe first takes some advice from our headline, “Saving for retirement is easy if you begin with the end in mind.” Hmm,
where have I heard that before? Second, maybe learn how to back up a trailer before showing off at the boat dock. But what’s the biggest to do? (water splashing) I gotta get a sugar mama.
Or in this case, maybe like a FICO mama. That way, I’ll have my love life squared away and I’ll be free to get as many cars as I want without dingin’ my credit with hard inquiries.
I am in FICO today. This show is the property of SB Podcasts, LLC, copyright 2024 and is created by Joe Salcihi.
Our producer is Karen Repine. Karen and Joe get help from a few of our sponsors. neighborhood friends. You’ll find out about our awesome team at stackingbenjamins .com along with the show notes and how you can find us on YouTube and all the usual social media spots.
Come say hello. Oh yeah. And before I go, not only should you not take advice from these nerds, don’t take advice from people you don’t know. This show is for entertainment purposes only.
Before making any financial decisions, speak. speak with a real financial advisor. I’m Joe’s mom’s neighbor, Doug, and we’ll see you next time, back here at the Stacking Benjamin Show.
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