Even if you only have $500 in your emergency fund, today we reveal why having this money in the right place can yield BIG dividends. If you have your $500 in an account paying the average rate, you’ll make around $2.50 in interest per year. Yet, by moving these Benjamins to a well-structured emergency fund, you could earn around $22.50. Doesn’t sound like much? Assuming this takes 30 minutes, we’re talking about earning $40 an hour! That’s a GREAT rate of return on your time invested.
Episode Overview
Why Your Emergency Fund Matters More Than Ever:
- Ever wondered where to stash your emergency fund for the greatest benefit? With rising interest rates, it’s a discussion worth your time. We’ll cover:
- How much should you keep in your emergency fund?
- Avoiding common pitfalls.
- Understanding the differences between money market accounts, high-yield savings accounts, and other options. And yes, we clarify all this mumbo-jumbo so you can actually understand it!
(What are YOUR thoughts on emergency funds? Share with us on Instagram or on Facebook!)
Segment Highlights:
- TikTok Minute: What’s “guy math”? We’ll dive into this fun trend and how it compares to “girl math.” This guy applies girl math to his tool collection. What could go wrong?
- New Segment Debut: Sometimes, online advice needs a second opinion. Hear OG’s take on some questionable financial tips. Today, we open with Sammie, who is asking for help with her 401k. As you can imagine, any time you ask for advice on the internet, it goes downhill quickly from there. If you see horrible advice in a financial forum, send it to us! (joe at stacking benjamins dot com)
- Doug’s Trivia: Test your knowledge with Doug’s latest trivia question and much more! Today, he dives into Federal holiday trivia to celebrate Juneteenth.
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Our Headlines
- The Era of Higher Savings and Bond Rates Is Still Going. Don’t Waste It. (Wall Street Journal)
Our TikTok Minute
Doug’s Trivia
- What is the twelfth annual federal holiday that we only have every four years?
OG’s Second Opinion
- Stacker Sammie sent a question into our resident CFP professional, asking for his opinion on how to pick between similar fund choices in her 401(k) plan.
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Join Us Friday!
Tune in on Friday for a special game show edition of our Friday roundtable. We’re going to talk about you, your budget, and how to budget better.
Written by: Kevin Bailey
Miss our last show? Listen here: Let’s Save a Bundle on Taxes (with Hannah Cole) – SB1532
Episode transcript
[00:00:00] bit: It is easy to grin when your ship comes in and you’ve got the stock market beat. The man worthwhile is the man who can smile when his shorts are too tight in the seat. [00:00:19] bit: Okay. [00:00:26] Doug: Live from Joe’s mom’s basement. It’s the Stacking Benjamin Show. [00:00:41] Doug: I’m Joe’s mom’s neighbor, Doug, and on today’s show, we’re helping you get more efficient with your money. You know that money sitting in your checking account or in your 401k or someplace where you know it needs to move, but you haven’t moved it. You’ll learn where to move, when to move, and how much to move. [00:00:59] Doug: On today’s show, you’ve sat on this long enough and we’re all about moving, plus in our TikTok minute. You’ve heard of girl math, but what about Guy Math? We’ll explore and a new segment today where we’ll tell someone who asked a question in a Facebook group online. You know, you could use OGs second opinion, and don’t worry your little head because I’m gonna swoop in halfway through this show and share some mind bending trivia and now. [00:01:28] Doug: Two guys who are right at least a quarter as much as I am, it’s Joe and oh, [00:01:39] Joe: that’s maybe 25% correct duck. Hey everybody, welcome to the Quarter for the Wind podcast. I am Joe Sal Sea. Hi, average Joe Money on Twitter. Welcome to the Greatest Money Show on Earth. We’re so happy you’re here. Sit back and relax. Because we are about to have an hour of some fun financial nerdery and the guy bringing the fun today as he does every Wednesday, Mr. [00:02:02] Joe: OG is here. How are you man? [00:02:06] OG: I mean, have we used this one before? The guy who brings the F You in fun, who puts the, have we said that? And [00:02:12] Joe: fun? We have said that before we, that’s gotta be the trademark. I forgot. I blew it T up. The guy who puts F You in Fun, it’s og Oh oh. You know, we see money inefficiency OG around us all the time and, uh, we’re about to dive into that black hole today because I think all of us know we’ve got a few skeletons sitting out in the open and maybe we need to broom ’em into the closet, if you know what I mean. [00:02:40] Joe: Nope. Take that out. What? What is, [00:02:43] OG: whatever you were going for didn’t land. Right? I can already assure you that skeletons are out [00:02:47] Doug: in the open and we wanna, let’s try this one. We got a few dead bodies. [00:02:50] OG: We wanna broom the skeletons in the closet, whatever skeletons you guys have, and. Whoever needs to be in the closet should be in the closet for sure. [00:02:58] OG: According to Joe s. Dead [00:02:59] Joe: bodies. We [00:02:59] Doug: need to, we need to move. No. In the trunk of a 74 Oldsmobile, we need to bury who’s [00:03:07] OG: got a shovel in some lime. [00:03:11] Joe: You ever watch those mafia shows where they’re, uh, rolling the dude up in the carpet? Maybe you’d need to do that with your financial picture. I don’t know. None of that is good. [00:03:20] Joe: We’ll figure out a way to do that better. But first, you know who does it better? Our sponsors do it better and they keep the second half of this show free. Here are a couple of them Right now, [00:03:30] ?: nobody does it better. Oh man. Makes me feel sad for the rest. That was a James Bond movie, wasn’t it? Yeah, [00:03:40] Doug: Carly Simon. [00:03:41] ?: It was. I [00:03:41] Joe: think [00:03:42] Doug: it was The Spy Who Love [00:03:42] Joe: Me. Good stuff. James Bond references and TikTok Minute and a brand new segment today. But first, a headline. [00:03:51] bit: Hello Doling, and now it’s time. Your favorite part of the show, our Stacking Benjamins headlines. Our [00:03:58] Joe: headline today comes to us from the Wall Street Journal, and this one’s written by Oyen Ian. [00:04:04] Joe: There’s no way. No, it’s Ian. I’m sorry. Oyen. I love your name. Ian. Can I change my name to Ian? And I’m not even kidding. That would be fantastic. Joe Schmo, Joe Schmo, and Ashley Ebing, who doesn’t have nearly the name of Oyen Aian. Oh, that is wonderful. This really caught my eye because the whole time I was a financial planner and I knew, oh gee, you’ve gotta still be seeing it today. [00:04:32] Joe: This headline really triggered me. The Easy Money era is still alive. Don’t waste it. The moves to make with your cash before the fed cuts rates. Now I went two ways with my triggering. The first one was the, oh God, no. And then the second half was, well, maybe, and let’s explore both of those. What I remember when I became a financial planner at first was I thought I was gonna be super excited about the grocery. [00:05:01] Joe: Clipping. You know, you’d see the stuff like on the Today Show, og, or you know, good Morning America. You’d see these money experts that were like, Hey, if you do this little tiny thing, you know, Greg McFarland used to be on our show, always talked about the guy with the advice about unscrewing the light in your oven to save like the 0.30 cents. [00:05:21] Joe: I used to think those pieces of advice were really cool. Then I become a financial planner and they’re like clipping coupons, like, why the hell would you do that? The, this whole idea of how much time you spent versus the amount of money you saved, was it, was it actually worth it? And for a long time that we had our show, when it came to money sitting in your checking account, it didn’t really matter. [00:05:45] Joe: Almost like clipping coupons, right? You could clip it. Not a big deal. You’re gonna save 25, 30, 50 cents. Not that much. But now what this piece is saying, if you’ve got money sitting in an account earning nothing, and you’ve seen this before, people with 30, 40, 50, $60,000 sitting in an account, earning nothing, there’s some easy moves to make to get this money on the right track. [00:06:12] OG: Well, it’s been how many years now? We started. Noticing this last year in 2023, and we did a deep dive in the clients that we work with directly. And we had 15 million clients, had $15 million of cash in emergency fund. 15 million, yep. Of, of ca, you know, emergency fund money, checking, savings, whatever, in their local banks. [00:06:35] OG: And now didn’t delineate between a high yield savings account or something like that. But, but let’s be really clear, I mean, bank of America’s high yield savings account is. You know, I think 0.03 right now. What’s worth, oh, dog. That’s right. That’s, yes. I was looking for it. I couldn’t find it, but it was there. [00:06:53] OG: I mean, even credit unions, the bank that we do our business banking with, we’re at their highest tier of savings rate, and it’s two and a quarter. That’s their best rate because they have a lot of, you know, a lot of moving parts. They’ve got branches and people and stuff like that, versus a high yield savings account, an online high yield savings account, which you can get at deposit accounts and find the best place for your cash. [00:07:17] OG: And a lot of these are just take just a little bit of work. I mean, to put in perspective, 15 million bucks sitting, earn a nothing versus 15 million bucks. Heck, even 10 million of that earning 5% is half a million dollars a year. That’s just our little, you know, 160, 170 families that we work with. Half a million dollars of interest a year. [00:07:38] OG: I actually saw in Reddit, one person said, yeah, but that’s all taxable. [00:07:42] Joe: I love that. Uh, I don’t wanna pay more tax. [00:07:46] OG: You are correct, sir. That is taxable, so dear. Right? Don’t do it, but don’t wanna give Uncle Sam anymore money if I don’t have to. Of course, the Fed came out and said inflation was a little bit better, so people are thinking maybe there’s gonna be some interest rate reductions in the future. [00:08:01] OG: That kind of, I. They feel like that was a positive move for, for interest rate? [00:08:06] Joe: Well, that’s actually what spurred this piece, OG, was they’re talking about how, hey, if interest rates do start going lower, then you’ve been missing out, but the clock’s ticking. But you can still make a little extra money. [00:08:19] OG: Uh, I mean, it’s, it’s always gonna be, you know, something. [00:08:23] OG: Even when interest rates were 1%, you could get 1% in your savings account and 0.01 in your checking account. You need to have a cash strategy that’s automated and easy to maintain because this is what happens in the real world. You start out, you go, okay, I’m gonna do all this research. I’m gonna find this savings account. [00:08:38] OG: I’m gonna find this great place to put my money. I’m gonna do it. Then a year goes by and now you’re back in the same situation where it’s like, well, I should only have a month worth of expenses in my checking account, but I’ve got five because you know, I’m a good saver and whatever. But that needs to be automated, that that money is automatically swept from your checking account into your savings account, and vice versa. [00:08:59] OG: If things are a little tighter, you have a big expense. You need to be able to know that that’s gonna automatically get covered if you move the money. You know, if you write a check for 10,000 bucks and you’re. Checking account only, that’s eight, but you got 50 in the savings account. Yeah. That needs to, you know, that needs to be set up in a way to do that. [00:09:15] OG: All of that can be automated to make sure that you’re getting the, the, the highest yield on your cash. And this is the problem. We talked about this on Monday. People look at this and go, all right, I get it. It’s a whole bunch of money in aggregate, but I’ve only got $20,000, so you know who gives a crap. [00:09:32] OG: Right? It’s 20 grand. I, it’s, it’s a lot of work. Dude, that’s a thousand bucks at 5% right now. That’s a thousand freaking dollars. [00:09:40] Joe: This piece even made it, uh, used a much smaller example. They say even savers with a small balance should contemplate moving money. If you have $500, for example, it would earn $2 and 25 cents a year from an average account compared with 2250 and one that paid 4.5%. [00:09:59] Joe: So if it takes you half an hour, that’s $40 an hour. I mean, that’s a fair rate of return on your time spent just for 500 bucks. [00:10:09] OG: Yeah, and it’s all of that compounded over time, and it just doesn’t seem like a lot of money. But you know, whether it’s $5,000 or $10,000 or $20,000, think about it in terms of the money. [00:10:20] OG: You don’t have to earn. The usefulness of that extra money, right? So let’s say that you make $500 of interest. That’s one month of Roth IRA contributions. You don’t have to do ba, you make a thousand bucks or 2000 or 5,000 bucks of interest every year. That’s, you know, two or three or four mortgage payments that you can deploy that capital to and say, I’m gonna use the dividends for my cash to fund my IRA, or I’m gonna use the dividends for my cash. [00:10:45] OG: Think about it as an opportunity to use your money. To freaking make money so you don’t have to make money anymore. tm, [00:10:53] Joe: let’s not even go that route though. I love that route. And then that $500 makes money, makes more money, makes more money, makes more money. [00:11:00] OG: I mean, I’d love to do that. Yeah. The compounding, but But it takes 30 years to see the compounding. [00:11:03] OG: Sure. Show me 500 bucks extra right now, my savings account, and I can tell you exactly what you could do with it. Yeah, but [00:11:09] Joe: that’s even my point. Let’s go the opposite way. If we compound, it’s a huge amount of money, but let’s go the opposite way. Imagine how much more fun you’d have with your family on vacation. [00:11:17] Joe: With an extra 500 bucks. If you don’t save it at all. Yeah. I mean, it just ends up being more stuff you can do, more opportunities either way. Inertia is powerful though. Absolutely. Well, and that’s why I wanted to start off Doug with that bridge, because I think this comes down then to order of operations in our stackers head. [00:11:37] Joe: Like where do we start? What do we move? What do we not move? So when I think about this og, I think it starts with what don’t I move? Doesn’t it like how much money should I leave in a spot regardless of an earning garbage rate of return? Is there any money I should leave in an account that isn’t really earning any money? [00:11:56] OG: Well, yeah, your normal day-to-day checking savings account where you’re paying your bills from, needs to be a month or two worth of expenses. Again, back to like hyper optimizing versus real world. You don’t wanna be managing your bank account every single day, right? You don’t wanna run it to zero. And then tomorrow, remember to wire transfer, transfer you know, a thousand bucks in, ’cause the MX bills due, and then run it to zero so that you’ve got every dollar in there. [00:12:21] OG: I would set it up so that there’s a month at the low end. Two at the high end. So somewhere between that month and two of money in your checking account, have your paycheck direct deposited into your savings account, and then set up an automatic transfer from your savings to your checking account every two weeks or once a month or whatever floats your boat to pay the bills that you know are coming. [00:12:45] OG: So we talk about a spending plan and working through how much I have for bills and how much I have for. Uh, credit cards and, you know, when do I have to write checks and all that other sort of stuff. You know, what your spending is per month. If you don’t, you should start there. Let’s say that you’re gonna spend $5,000 a month and your paycheck is $5,500 a month. [00:13:02] OG: Take your $5,500, put it in your savings account and transfer 2,500 bucks every other week or $5,000 a month into your checking account for your spending. So it’s, most people put the money in their savings account and then go try to find it to save it later. Do it the opposite way to make it easier on yourself. [00:13:19] OG: Then, uh, and then just reevaluate it every three to six months and say, my goal is to have two, you know, two months here. So I should have, you know, I should finish the month with, you know, 10,000 bucks in this account if I’m spending five a month. But I’m, you know, it was 9,200 and then the next month it was 8,700, and the next month it was 7,900. [00:13:38] OG: It’s like, okay, I can see a trend here. Three months in long before it becomes an issue. I can see the trend, right? I was supposed to have 10, and in three months I’m down to seven. So guess what? Bing. I’m spending 6,000 a month instead of 5,000. Now I can do what I need to do to adjust that for the next three months. [00:13:55] Doug: You talked about savings first, which makes sense, but there are limits set by the federal government, if I’m not mistaken, about how many transactions you can have into or out of your savings account. Is that correct? I think if you have too many transactions, like it’s over 10 or something like that per month. [00:14:17] Doug: It wants to automatically convert, or is that set by the bank, the individual bank you’re with? [00:14:21] OG: Well, it’s the different types of accounts. It used to be. That, uh, kind of regulation. Reg D was what it was called. And so the Reg D stuff used to be those six, uh, transfers. Yeah. Per month. I believe that that has gone away. [00:14:37] Doug: That happened to me once, uh, just because I didn’t move enough in one fell swoop to checking from savings, and I kept on sort of nickel and dime it and moving over, and all of a sudden it’s like we’re converting your savings account to a checking account because you’ve exceeded the total number of. [00:14:53] Doug: Whatever they called them types of transactions, and I’m like, oh, timeout. I didn’t know this was a thing. Yeah, I, I guess where I’m going with this is, yeah, I agree with, figure out what your monthly run rate is and try to do that in maybe one transaction from your savings to your checking. But because so many of these high yield savings accounts. [00:15:13] Doug: Will allow you to move money into or out of them in 24 hours. You can really have a pretty significant amount of your savings in the high interest savings account because you can get it pretty quickly. It’s not like a CD where you’ve gotta leave it there for a year. Something like that, you can get it out pretty quickly if you really need to. [00:15:34] Doug: So I don’t think you, anybody should have any, uh, reluctance to go to one of these types of high yield accounts based on, oh, I, that means I’m locking my money away for a super long time. If you can figure out what your monthly run rate is, make sure you have that to your 0.0 GI think a huge amount of the rest of it should go to one of these high yield type of accounts, and there’s a few different flavors of them. [00:15:55] Joe: Just to put a point on it while you guys were talking, I looked up when they, ’cause I knew they lifted, I looked up when it was in, uh, 2020. The Federal Reserve lifted the six withdrawal limit. Uh, ah. That piece of Reg D [00:16:07] Doug: Yeah, this happened before that. Good to know. [00:16:08] OG: But your point, Doug Banks will still have their own little set of rules and transaction costs and all that sort of stuff that you gotta be aware of, but [00:16:15] Joe: know how they work ahead of time. [00:16:16] Joe: Yeah. Don’t get yourself with, with money stuck. Uh, and I wanna get there next with the difference between high yield savings account. And, uh, going with, uh, CDs or some other type of account. But before we do that, Doug, I like the term you use run rate because, oh gee, I think there’s a place where people get stuck here. [00:16:33] Joe: They look at their gross income per month. I saw this all the time when I was a financial planner. People would set their emergency fund and they go, okay, I, you know, my gross income is $5,000 a month, so I need 10 grand if I’m gonna sit. Two months worth of income there. It’s not income. Its expenses, so this number in your Gotoit account can be a heck of a lot less money than a lot of people think that it is. [00:16:59] Joe: I don’t know, OJI if you see people still making that mistake or not? [00:17:01] OG: Well, I mean, again, the difference between this is true at all levels, whether it’s figuring this out. Or figuring out how much you need to have for insurance, or how much you should be spending in retirement. We a lot of times use rounded numbers that are not actually rounded numbers. [00:17:18] OG: So, you know, if your salary says I make a hundred thousand dollars a year, you’re probably, you know, taking home 80 after taxes. Right? And so maybe that 80 is that number, but then, you know, maybe you have insurance costs and four oh K contributions and come on. What are you doing, Doug? [00:17:34] Doug: You’re just finding excuses to say insurance, aren’t you? [00:17:38] Doug: You’re just doing whatever you can to work that word into the conversation, so I’ll lose my mind. [00:17:43] Joe: Apparently we won. Not at all. Yeah, [00:17:49] OG: I wasn’t, but now I Most definitely am going to be. [00:17:52] Joe: We’re we’re ready with more insurance. Ah, yeah, let’s do it. Well, first of all, there’s car insurance. And then there’s homeowner’s insurance. [00:18:01] Joe: Yes. Some people need renter’s insurance. You said all of those correctly. Thank you. There’s all [00:18:06] OG: sorts of insurance, all sorts of insurances. He did not. [00:18:11] Joe: All right, so back at it. We’ve got, uh, [00:18:13] OG: anyways. Yeah, [00:18:14] Joe: yeah. Take out all those costs. [00:18:16] OG: Right? Right. Think about what your need-based numbers are. That’s your emergency fund. [00:18:21] OG: That’s the money that you need. You know, it’s really interesting. This is where I see people go awry here more often than not, and it’s not on the low end side. It’s when you know the train starts moving a little bit. You’re just outta school. You’re just starting your first job and the somebody says, oh, you need to have six months of, of your, of your expenses, and you’re going, holy crap, I save 50 grand. [00:18:39] OG: I have to save se, you know, whatever that number is, right? To your point, maybe it’s really 30, maybe it’s 20, but you’ve never had anything. So you get to 20, you’re like, wow, that’s a lot of money. But I bet 25 feels a lot nicer than 20. And guess what? It sure does. And you know what’s even nicer than 25 in your savings account? [00:18:56] OG: You guys will never get it. 30. You’ll never guess. 30. Beautiful. Yep. And what’s nicer than 30? A 60 and a hundred’s. Nicer than 60. And two hundred’s. Nicer than a hundred. And it’s, again, if you’re listening to this and you’re 30, you’re like, I got five. I, I can’t imagine having a hundred. It happens. ’cause you just get used to it and you don’t set an upper limit on this. [00:19:16] OG: So just like you have to have a down, you know, a bottom limit of, I, I won’t, you know, I need to have this amount. As an emergency fund, you also need an upper limit once you get past it. Six months or a year’s worth of expenses. You’re good. The rest of that money needs to be deployed to longer term buckets, longer term investments. [00:19:31] OG: So make sure that you have both the ceiling and the floor established. [00:19:35] Joe: This is where, yeah, thinking about the different types of risk is helpful because the true risk is, is that your money’s sitting there being eaten up by inflation. Let’s talk about. Where we put it, we have the high yield savings account, which is, you know, the terminology we’ve been using. [00:19:52] Joe: People also, OG will see CDs, they’ll see money markets. Is, is there a preference on which one of those we use, uh, for this emergency fund? [00:20:03] OG: Well, I mean, if you wanna nitpick it, savings and money market accounts are gonna be really, really, really similar. I would guess that by and large, most people can’t tell the difference. [00:20:11] OG: A savings account is likely to be FDIC insured. Uh, a money market fund is not going to be FDIC insured. In today’s markets, those rates are very similar to one another. There’s some flexibility there. For example, if you live in a high tax state and you have a high income. And you have a high cash balance. [00:20:31] OG: It might make sense to use a money market fund instead of a savings account because in the money market fund, you might be able to get some municipal bonds or some municipal tax free income, which is taxed at a different rate if you’re in one of those high tax states. If you’re not in a high tax state or in high tax bracket, sometimes it doesn’t matter. [00:20:49] OG: Similarly, there’s a little difference in interest versus dividend income. A lot of people use these interchangeably, whether you’re not at, if you’re at the bank, the bank will say, well, this is our money market fund and it’s really money market interest fund versus a money market dividend fund that you might find, for example, in your brokerage account. [00:21:07] OG: So your brokerage account, your money market fund pays dividends. Obviously that’s taxed at a different rate. Then interest is, so there’s some changes there. But generally speaking, from a dollars and cents standpoint, I would imagine that they’re about equal in terms of returns. All are liquid. All are able to be accessed almost immediately. [00:21:25] OG: Uh, when you get into CDs, now you’re talking about things that are gonna be locked up for a period of time, whether it’s three months or six months, or one of the presidential candidates is, uh, talking about a hundred year savings bond, which would be kind of interesting. I might buy one just to see if my great, great grandkids can find it in a hundred years, you know, set up an Easter egg hunt just for the heck of it. [00:21:46] OG: Great Grandpa left us this $25 savings bond. It’s worth [00:21:49] Joe: 50 bucks in a hundred years. I don’t know which presidential candidate you’re talking about, ’cause I haven’t heard this yet, but you can look at either one of them and go, well, they almost remember a hundred years ago. Yeah. So they’re just, I was gonna say, they [00:22:00] OG: definitely won’t be around to buy, to cash those in. [00:22:03] Doug: Oh. But they’re like, they’ll, they’re both like, that’s not very long. A hundred years. That’s nothing. That would’ve been great given my longevity. That was like yesterday. Yeah. But before we dive into the CDs, og, you mentioned money market fund three times, but there’s also a money market account, right? And if people are diving in this into this to figure out, you know, what’s the best place for them? [00:22:23] Doug: Can you talk about the difference between those two a little bit for our listeners? [00:22:29] OG: Sure Doug for those that weren’t paying attention for the last five or six minutes. Yeah, the banks are gonna have different terminologies for these money market funds, money market accounts. They’re gonna use those interchangeably. [00:22:39] OG: If it’s at a bank, it’s gonna be a money market account, which is gonna be largely driven by bank interest, uh, you know, run by the bank and is gonna be paid an interest. A money market fund is likely to be something that you’re gonna find in your brokerage account. You might, uh, have it as a option in your, you know, Schwab account or Fidelity account or something like that. [00:22:58] OG: And that. Usually is paid, uh, the interest or the proceeds, whatever you wanna call it, is paid in dividends, which have different tax rates. [00:23:06] Doug: Is the interest rate usually better on one than another typically, or is it simply a matter of one’s FDIC insured and the other isn’t? [00:23:15] OG: Um. Yeah. I mean, it’s gonna vary from institution to institution for sure. [00:23:19] OG: Yeah. [00:23:20] Joe: Often though, I think the trend is that the non-insured one will pay a little higher, and I would not take that bait just [00:23:25] OG: a [00:23:25] Joe: smidge, generally. Yeah. I don’t generally, I don’t know that I would take that bait. [00:23:29] OG: Again, it just depends on where the money is. Right. Like extra money sitting in your brokerage account that you haven’t invested yet. [00:23:34] OG: It’s kind of a pain in the butt to transfer back to your bank. Oh, I agree. Yes. To get FDIC insured. Versus just buying a money market fund with it. [00:23:40] Joe: Sure. And I love kinda where I think you were going with CDs, if you’ve got a short-term goal and you know you wanna lock up that money and make it different than your emergency fund, go ahead and get the higher rate and put in a cd. [00:23:51] Joe: And it also makes sure that you don’t accidentally spend it on something else. So that’s, that for me is where I like a cd. Let’s talk about though, the big problem here. They’re talking about. Maybe that they’re not talking about og, which is that even though you can move money to the high yield savings account, it’s a lot of people still with even more money listening to this show that shouldn’t be in these savings accounts at all. [00:24:13] Joe: That needs to be moved to something more variable so that they have a chance to beat inflation. Where do you draw that line? How do you decide this is enough money in cash and now it’s time to lop off the rest? [00:24:28] OG: It’s probably not. Okay. Just to say, asked and answered, your honor. [00:24:32] Doug: Well, you’re in a condescending mood, so you might as well do it to Joe. [00:24:35] Doug: He already did it to me, so go ahead. If I ask the fucking question, it’s because it wasn’t so, [00:24:40] OG: it was previously mentioned, you should probably have a uh, floor and a ceiling. Uh, for your cash account. I heard you, you know, better floor and ceiling. Ceiling. So where should that floor and ceiling, it’s better than 25,000, 30,000. [00:24:51] OG: You know it’s better than 30,000, 60,000, you know, it’s better. 60,000, hundred thousand. You know, it’s [00:24:55] Joe: that. So, so not answered. Should that where the fuck you want it to be, but just [00:24:58] Doug: draw damn line. Where should that ceiling be? I think that’s a valid question. I don’t know why you’re getting so crappy with both of us, because I know at, at some point I think there’s a number here. [00:25:09] Doug: You have to say, okay, when you have six months of. Money in this high yield. I said it already more liquid than after the six month mark. Then you go into the market to do what Joe is saying, which is to not tape miss out on beating the inflation check. Check tape, check tape. [00:25:26] OG: No. I said one year. I did say one year. [00:25:29] OG: You guys can go back and listen to it. I don’t care. It’s fine. I did say it. I said one year I said two. If you’re being super conservative. [00:25:35] Joe: We will dive more into, uh, the world of savings accounts, how they work, how you should think about them. Of course, we’d love to give you the deep dive other sources, some of the sources that we used for today’s show, for us to do our homework and get ready for these podcasts. [00:25:52] Joe: Those are all on the 2 0 1 Stacking Benjamins dot com slash 2 0 1 is our newsletter and it’s always free. So sign up and, uh, get educated based on the presently free that we talk [00:26:02] OG: about. Don’t guarantee always free. [00:26:05] Joe: I, I, I can’t imagine it not [00:26:07] OG: being free. Well, I don’t know. Let’s just not paint ourselves any secure. [00:26:10] OG: Your [00:26:10] Doug: lifetime subscription, your lifetime free subscription to the 2 0 1 by signing up now. [00:26:16] OG: Probably, probably free for your lifetime. [00:26:19] Joe: Get in now because oh, G’s feeling like he might put a gate up later. I will fight him. [00:26:25] OG: We’ll see. [00:26:26] Joe: I will, did we use the, you shall not pass, just a week or two ago. Do we have to use that with OG now? [00:26:32] Joe: og you can’t. I will. I will do my best stackers to keep it free. But you can hear og, so you should get in now ahead of time. Stacky Benjamins dot com slash 2 0 1. He is salty today. You can hear [00:26:43] OG: his demeanor. I was in such a great mood earlier. Doug screwed [00:26:46] Joe: up. Coming up next, the second half ad free portion of this show, but not the SALTLESS portion. [00:26:52] Joe: I think we’re gonna get more salt in the second half of this, but to make that transition, it’s spicy. Good friend. It’s Doug who’s got our trivia? [00:27:04] Doug: Let’s see. See what in. This can piss OG off. I hope there’s something. Hey there, stackers. I’m Joe’s mom’s neighbor, Doug. Happy Juneteenth to all who celebrate a fairly new federal holiday. [00:27:15] Doug: Juneteenth was established in 2021. To celebrate the day the last of the enslaved people in the United States learned they were free. With the addition of Juneteenth, we now have 11 federal holidays every year. Not bad, but that’s still about 41 shy of how many we need. If you ask me recently, there’s been a lot of talk about switching to a four day work week, which I totally agree with on the condition that every new day off is a federal holiday. [00:27:42] Doug: Just think how much easier it would be to plan dates of every Monday at a theme. Hey babe, I made plans for the weekend. I was thinking we could stay in, you know, watch a movie and. You could cook a romantic dinner for me. ’cause Monday this national make dinner for Doug Day. After all, how awesome would that be? [00:28:00] Doug: Today’s trivia question is, every four years the United States has 12 federal holidays instead of 11, what’s the 12th? I’ll be back right after I ask Joe’s mom what she’s doing to celebrate Hump Day. Oh, oh God, no. Who put that in there? [00:28:23] Doug: Hey there, stackers. I’m Genius Day Planner and strict observer of Arbor Day. Joe’s Mom’s neighbor, Doug. During the break, I started making a list of all the upcoming holidays. I’m gonna tell Joe I need off So far, I’ve, uh, I got National Hotdog Day, national Beer Day, of course, grilled Cheese Sandwich Day, national Spaghetti Day. [00:28:41] Doug: We come to think of it. I’ll just tell ’em I need all the food related holidays off. For religious purposes, you can’t say no to that. Today’s trivia question is what is the 12th annual federal holiday that we only have off every four years? The answer, well, many of you may have guessed Ground Dogs Day once. [00:28:59] Doug: A Tawny, Phil, surprisingly, isn’t a government official. Wait, am I reading that right? Actually, I find it hard to believe. I mean, he sounds like every politician ever, he sleeps through all the meetings. He answers to a bunch of rich dudes and top hats and tails, and he only makes one meaningful decision a year. [00:29:15] Doug: Speaking of useless politicians, the federal holiday that only comes around once every four years is actually inauguration day. It’s a shame that Crown dogs have to miss that one. And now let’s get back to Joe [00:29:28] Joe: and a salty og. Time for the segment of the show where we shine a light on a TikTok producer who’s either doing something brilliant or air quotes brilliant. [00:29:38] Joe: We call it our TikTok of the day. Oh gee, you think we got something? This is actually gonna be a Facebook reel. Do you think it’s brilliant? Or air quotes brilliant. It’s Facebook. It’s gotta be brilliant. It’s an audio podcast. Oh, apparently I have balloons now. Air quotes, air quotes, brilliance. Let’s see. [00:30:01] Joe: You know, uh, we’ve heard of girl math, the concept that you purchase stuff and when you do enough math, it actually, you know, it was kind of free. Let’s see if it applies also to, uh. To guys. [00:30:15] bit: My wife sent me this meme about Guy Math. It said that if a guy buys a tool and the tool saves you time, time is money. [00:30:21] bit: Therefore the tool is free. And I said, no, that’s stupid. It works more like this. There’s a job that needs do it, but you need a drill to do it. So I buy a drill. Let’s say the drill costs a hundred bucks, and if we had hired somebody to do the job, that would’ve also cost a hundred. So by buying this drill and doing the job myself, this drill is free, but that’s not the end of it. [00:30:43] bit: For every subsequent job that I use, this drill, this drill, then gains value, a hundred dollars here, 150 there, 75 over here. Every little project adds up. Before you know it, this drill is worth about $10,000. So really this drill paid for all these tools too, and every time I use those tools, instead of hiring somebody, they gain value. [00:31:04] bit: I don’t know why she keeps telling me I’m bad with money. It’s a gold mine. It’s, [00:31:09] Joe: it’s this tool room, which you can’t see, and we’ll link to it in the show notes if you wanna watch that or forward it to somebody and tell them you found it here, by the way, that, um, uh, it’s full of tools. It is absolutely full of all free og. [00:31:21] Joe: Every single tool he is got there, it’s a gold mine. [00:31:23] OG: Reminds me of the video that I saw. The woman walked into the gun shop and she’s like, yeah, we’re kind of having hard times and you know, we need to sell some of these guns back and you know, would you guys be interested? And the guy’s like, yeah, sure, lemme take a look. [00:31:34] OG: And he pulls out this, you know, this rifle, this exquisite rifle with a big scope on it and you know, all stuff. And he’s like, I. What are you hoping to get for it? She goes, well, my husband said that he paid a hundred dollars for it, so 75. And he’s like, yeah, I think we could do 75, ma’am. Kind of, kind of the same thing. [00:31:55] Joe: That actually took me a second. I’m like, what? Wait a minute. It took me a while too. [00:31:59] OG: I I watched it again because I was like, wait, how’s this? Oh. I was like, oh, I know what’s going on. [00:32:03] Doug: I don’t get you. Well, you gotta know that a really, really nice rifle is a couple of grand. Yes. That’s fabulous. My husband said it costs a hundred dollars. [00:32:12] Doug: Oh, that’s pretty good. What husband does that? What husband wouldn’t be truthful about how much a thing was that he bought? That’s not estate playing math. Normal marital behavior. [00:32:23] OG: No, not at all. It’s like couple math. [00:32:25] Doug: That is [00:32:26] Joe: Couple math right there. How much was that purse? It was like a hundred dollars. [00:32:30] Joe: Well, it’s actually, and I know this meme is kind of a joke, but if we take buying the drill for a hundred bucks versus having it done for a hundred bucks. I think that what we haven’t added in is the cost of our time to actually do the project that somebody would’ve done for us, I think. Right. Isn’t there some of that math in there too that, that we’re forgetting? [00:32:47] OG: Yeah. [00:32:48] Joe: I mean, for anybody believing any of this math, like there’s, there’s all that time. [00:32:52] Doug: The thing that I choked on when I was listening, I mean, I was tracking with this guy, but he said. Well, if I had somebody else do this job, that’s a hundred bucks, there is no way you’re getting anybody to show up at your house for a hundred bucks. [00:33:04] Doug: I don’t care if you’re just having to hang a picture that’s a $250 minimum, just a site visit fee, [00:33:11] Joe: but then you save even more money. So actually it’s a point in his favor, Doug, because if it’s, I agree, it’s if it’s 500 bucks, then the cost of the drill plus your time, which you might value to another a hundred bucks. [00:33:21] Joe: Let’s say Y, you’re saving 300 bucks by buying the drill. [00:33:25] Doug: This guy is like Scrooge McDuck just swimming around in all of the gold coins in his vault, [00:33:31] Joe: but back on the side against him. Then he is got the holding cost of all of these tools that he’s not using all the time. It is amazing. By the way, have you ever checked out how many tools you can rent from your library now? [00:33:42] Joe: Oh, that’s a good point. You can, that you can actually just borrow from your library like it is incr. I never knew they had tools until recently. I was like, where, where was this? During my twenties? [00:33:52] Doug: Yeah. ’cause it wasn’t there back then when we were doing, doing all of our home improvement work, libraries weren’t doing libraries. [00:33:58] Doug: Got into that in about the last 10 years, I would say, because they had to. What are those places called? I know it. Public libraries. They’re libraries. Ah, yeah. That’s how you, you know them as libraries. Did your kids go to kindergarten too? Right, but people stopped going to libraries because they were able to get everything online. [00:34:17] Doug: And so libraries had to come up with reasons to get people to come in. So they started the. I mean, they all call ’em different things, but the, they’re like the library of things. Now you can get, if you got a VHS tape that you can’t watch anymore ’cause who the hell can, but you wanna watch your old wedding video, you can go to the library and, and get an old VHS player for a little while, or air quality measure. [00:34:38] Doug: I mean, it’s amazing what they do there now. [00:34:40] Joe: I know that stacker Annette, uh, spends, uh, a bunch of time there. We had her on talking about how all the things she does with her kids at the library, the events they have, they get board games from the library. Good stuff. But you can also get tools. But I think about also the holding, the holding cost of all those tools. [00:34:55] Joe: You’re sitting there on this, on this real estate that could be used for all kinds of different stuff. And Doug, you looked at me like, that’s impossible. They’re making [00:35:02] Doug: you money while they sit there. [00:35:04] Joe: That’s the whole time the reiki money. We made that clear. You could rent them out. Uh, hey, guess what? It’s time for a new segment. [00:35:12] Joe: A segment we call. You might need OGs. Second opinion. Let me tell you exactly how this goes. I often find myself in these, uh, the bane of my existence, which is online personal finance groups. And sometimes it’s great, and other times it just eats your soul. And here’s one. Sammy today was in this we shall remain nameless personal finance group and said, help please with a photo of her 401k choices, just all the choices in HER 401k, and then just the words, help please. [00:35:50] Joe: And Amy being very helpful said. The way to evaluate a choice like this is to start by looking up the expense ratio of each fund. Oh God, no. God, no. God, please, no, no, no, no. Which was going to be the sound effect until I found this one. Uh, Sammy, it might be time for og second opinion. Nice. og tell me, do you think that Sammy should look at her 401k choices and first look at the expense ratio, the amount she’s paying for this stuff? [00:36:32] OG: Everybody knows you sort by best return for the one year. [00:36:37] Joe: And now Sammy, it might be time to get Doug’s opinion because apparently, because apparently [00:36:48] Doug: I, I look at how hot the fund manager is. I look for profile pictures. Is that. [00:36:54] Joe: Seems like the right way to go. That is, well, if he’s got, I mean, listen, if he looks at all like Michael Bolton. Yeah. Bam. I didn’t specify [00:37:03] Doug: gender. I know [00:37:04] Joe: that’s right. Just [00:37:05] Doug: hotness. Just general hotness levels. ’cause those people are more successful in life. [00:37:09] Joe: Duh. Yes. I, uh, og where are we going with this? Do you look up the exp expense? You don’t look at the expense ratio first, let’s, uh, continue. No, [00:37:19] OG: I mean. The problem is, is that a lot of times the 401k lists aren’t presented in any real logical order. Sometimes alphabetically, honestly, if you’re looking online, they do make it sortable by performance 1, 3, 5, 10 life of fund. [00:37:31] OG: There is probably some sort based on expense ratio or how long the fund has been around. You know, that’s kind of the traditional information. What I think that you wanna do is categorize it by the different asset classes first. So I wanna look for big companies, I wanna look for small companies. I wanna look for companies that have been around a while, companies that are brand new. [00:37:54] OG: So we call that growth and value. And then I wanna look for international companies or, or a selection of those as well. Once you’ve kind of compartmentalized and said, okay, here are all my funds that are, you know, a large us. Growth companies, or here’s all my funds that are small US value companies. Now you have a, a much easier list to work through. [00:38:18] OG: Then you’re just trying to decide your asset allocation of how much in each one of those five categories. Do I need large growth, large value, small growth, small value international. If you want to have some fixed income, you can, but nobody really wants to, so don’t do that. What you want your allocation to be between those five different asset classes. [00:38:37] OG: You can use a tool like Portfolio Visualizer to kind of figure out where that efficient frontier is. If that’s important to you, you can, uh, you can ask Reddit or wherever you were. Maybe they’ll have some ideas. The reality is, is that you wanna pick choices that are gonna align with the long-term rates of return that you need for your plan. [00:38:57] OG: I guess at the very beginning of this, I assume that you’re at the point of. And now I need to pick my funds. But really the first step is, what the heck am I using this money for? If we’re using it for retirement, you know, we’ve got this long-term time horizon, then you know, what kind of rate of return are, are we looking for? [00:39:12] OG: But once I’ve got that allocation down, now I can go back into the funds and say, alright, out of my selection, you know, there were 50 different choices here, but really only five are large company growth funds. Which one of these five makes the most sense. And now you can look at evaluate things like cost and turnover and active versus passive and, and those sorts of things, you know, that are important to you. [00:39:34] OG: But the first thing that I would do is separate ’em all into big, small growth value, and international to give a better look at which ones you’re really. And then once again, you’re gonna find is that there’s gonna be some ones that don’t fall into those categories. They’ll be like, what do I do with the communication sector fund? [00:39:51] OG: Yeah, you don’t use it, it doesn’t fit into one of those buckets. Just slide it off. What do I do about the, uh, stable value fund? Well, you don’t use it. It’s not in one of those categories. What about the Wisdom WisdomTree four X Bull Fund? Yes. Well, you get to use that one time. That’s, uh, that’s the final fund. [00:40:09] OG: It’s like the final boss level in Mario. When you finally accumulated a million dollars in your 401k and you’re 63 years old, and you go, I got one year to go all into the four x fund. See what happens. Kidding. Don’t do that. [00:40:22] Joe: That’s what we say, Sammy, it’s time to go for it. No, [00:40:28] OG: maybe not. Yeah, don’t. No, no, no. [00:40:30] OG: YOLOs at 63. Better not. [00:40:33] Joe: We actually have created a uh, one pager on this topic. If you’re just starting investing, which is your. Standard operating procedure. It’s based on an episode that OG and I did recently on this, on this very topic. If you’re just new to investing, how to get started, the best funds to choose to get started, and then after that, how to think about it, when to start thinking about getting more and better diversified in the way OG that you just explained. [00:41:01] Joe: And that is at Stacking Benjamins dot com slash investing. SOP standard operating. Stacking Benjamins dot com slash investings OP. By the way, if you’ve got some of these things that you’re reading in online communities and you think that those deserve a second look by og, send those to me, Joe at Stacking Benjamins dot com. [00:41:26] Joe: We’ll be happy to take a look at maybe adding those to the show just so I can go again. It’s like my new favorite. I dunno if you guys knew that. That’s my new favorite sound. [00:41:39] Joe: If you’re not here just to hear me play that sound effect that I could play again, but I’m way above that. Instead, you’re here because of the fact that you know what? My investing, I. Or my emergency fund. Not only are those not in order, I’m not really sure how my funds are meeting my goals. Well, you know what? [00:41:56] Joe: OG and his team are taking on new clients right now and we are halfway through the year. And if it’s time to get moving, Stacking Benjamins dot com slash OG is the place to go. That’s the link to his team’s calendar to see how they can interface with you to get the ball rolling. Finally, it’s time to start making those moves that you know you’ve been needing to make forever and you haven’t made them. [00:42:18] Joe: All right. Time for us to wander out onto the back porch. Crack a beer. Man, some exciting things. I was on a plane recently and I saw that movie Cabrini that I recommended, and so if you’re ever on a plane anytime soon, watch Cabrini. Like I was looking through, you know, sorting through all the different, all the different funds I tried the last two times I was on, by the way, I tried to watch the Ferrari movie. [00:42:45] Joe: I like cars. I like Ferrari. I like Enzo Ferrari. I’ve watched the first 15 minutes of this movie now three times. I don’t know if it’s the fact that I’m on a plane or what, I just can’t get into it. [00:42:55] OG: The Ford versus Ferrari movie, is [00:42:57] Joe: that what you talking about? Ford versus Ferrari was fantastic. No, [00:42:59] OG: this, no, this movie’s just [00:43:00] Joe: called Ferrari. [00:43:01] Joe: It’s about Enzo Ferrari. It’s the one with Penelope Cruise in it, right? Not Ford versus Ferrari. And Adam Driver. [00:43:07] Doug: Yeah, [00:43:07] Joe: Adam Driver plays, uh, Enzo Ferrari. But just maybe it’s a good movie. I just haven’t found a way through it. [00:43:14] Doug: I looked into it, I couldn’t, you know, it just didn’t, whatever, the way they wrote up the, the description of it, just thought, nope, not tonight another time. [00:43:22] Doug: But it’s funny you bring up Cabrini ’cause I was just trying to watch that. I’m not looking for it not too long ago. And it is not available on any of the major streaming that I pay for anyways. That sucks. It’s like on that sucks. I could buy it. Who’s gonna do that? Nobody’s gonna buy if I, yeah. So, uh, yeah, I’m still waiting for when that shows up on one of the streamers. [00:43:41] Doug: ’cause you’ve said great things about it. [00:43:43] Joe: It was so good. So if you’re on American Airlines flights longer than two hours, pop that thing on. You won’t be disappointed. og, what are you watching right now? [00:43:51] OG: Uh, a whole bunch of nothing. I did see there’s a new show on Apple Plus. Um, we don’t subscribe to that, but maybe I will with Jake Gyllenhaal in it. [00:43:59] Joe: Oh, that looked really good. I haven’t started that either like a [00:44:02] OG: court drama, some sort of, uh, innocent until proven guilty type of phraseology in terms of whatever it’s, maybe it’s, maybe it’s innocent until, or something like, some sort of play on that. I like that show, your Honor, which I know Doug watched a little bit of Cranston. [00:44:18] OG: I watched [00:44:18] Doug: all of it now. [00:44:18] OG: Oh, you watched both seasons? Yeah. Yep. Brian Cranston. So that’s less of a legal show and more of a drama thriller. And then, uh, and I think the writer of this is one of the writers from Boston Legal and the Practice and kind of those nineties, two thousands, uh, law shows. So, um, he, I think he did another, uh, show. [00:44:42] OG: Again, it was on Showtime or something like that. And, and I, Hugh Jackman was in it, uh, involved a murder. And anyways, um, so I think it’s along the similar lines. I just read about the Wall Street Journal, so I curious about that one. [00:44:55] Joe: You know, the courtroom drama interests me, the Jake Gyllenhal one. Uh, and on that note, I’ve, I, I just hit season five of suits and it’s hard for me to make it five seasons of anything. [00:45:07] Joe: Yeah. I got three cores of the way through season four, and it finally, now has started to get swingy, like really, like, you’re like, really? Okay, we’re we’re doing that now. And you start rolling your eyes. I think I made it three seasons through one of my favorite series of all the West Wing. Before I did that, it was maybe three seasons. [00:45:25] Joe: Wow. Totally. Three seasons. Then I went, yeah, I’m, well, whenever Aaron Sorkin left, I made it like halfway through the next season. I think that was the first three seasons Sorkin did. That’s true. And then after that it was, uh, what’s his last name? I think West. But, um, I made like halfway through that season. [00:45:39] Joe: I’m like, Nope. It’s, it’s, uh, I mean, I did that with, uh, weeds. Yeah. Yep, I agree with you on, we got just about a season, season and a half in, and I was like, yeah, I can’t do this anymore. And I feel like I do that with a lot of series, but, uh, suits, I made it all the way to season five and I think I’m gonna keep going just ’cause I’m, I, I’m really enjoying the characters. [00:45:58] Joe: But yeah, you [00:45:58] OG: gotta finish it up. [00:45:59] Joe: You get to that point. The plot’s getting weird now. I mean, you’re just like, really? You’re [00:46:03] Doug: just. Yeah. Anyway, west Wing, I made it all the way to the penultimate season and then I just had to finish kinda like you in suits. I gotta finish just ’cause I made it this far. I gotta see the whole thing. [00:46:12] Doug: I was held captive on that through season six. I think there were seven seasons, you know, the one that, uh, I’ve already watched once all the way through and was totally into it the whole way. And now I’m starting again with Mrs. Neighbor Doug. Is better. Call Saul. See hi in og. No, be better. Call Saul and I’ve, we’re only like three episodes into the first season. [00:46:36] Doug: It is so much funnier. The dialogue is so much funnier than I realized the first time I watched it. Like I’m having as much or more fun this time than I did the first time. [00:46:46] Joe: I, I totally missed that show. Never saw it and, and need to, but I also found out on Back to Apple Plus OG a show that I’ve loved the first three seasons of trying, which is a fantastic show. [00:46:57] Joe: Yes. You have to watch it with subtitles. You have to have the subtitles. It’s a fourth season of trying. It just [00:47:01] Doug: came out with a fourth and, uh, so that’s on the list. I didn’t, I didn’t realize it was out, but we love that. I think you recommended that. Loved it. [00:47:08] Joe: Yeah. Two series that you have to watch with the subtitles. [00:47:10] Joe: That won’t be funny if you don’t watch ’em trying. I, I, if you’re an American, you’re just gonna miss half the jokes, but when you have the subtitles on, it makes it easier. And Dairy girls is the same thing. Yeah. I didn’t, you started watching. I watched the first like three episodes of Dairy Girls and a friend of mine said, watch it with the subtitles. [00:47:27] Joe: And oh my God, I was on my stomach hurt so bad ’cause it was so damn funny. That show is the funniest, funniest show. Disagree. Oh my goodness. Well, and I love British [00:47:38] Doug: humor and I disagree [00:47:39] Joe: that that show didn’t You’re wrong again. Didn’t [00:47:40] Doug: do it. [00:47:41] Joe: Doug being wrong again. Ladies and gentlemen, welcome to Doug’s Wrong again. [00:47:46] Joe: God, I’m getting the crap kicked outta me on this episode. Maybe you need to buy some insurance against that. There we go. There it is. Doug. What should be on our takeaway list from today’s episode? [00:47:59] Doug: I’ll do that. When you say it right, say it right and then I’ll do the, I’ll do the wrap up. [00:48:05] Joe: You got the crickets. [00:48:07] Joe: There’s the crickets. There it is. Yes. Or I could have said, you know what he really referred to was not to say that one word, right? ’cause I did say it right. He wanted me to do the introduction. Right. Doug, what should have been on our takeaway list from today’s show? [00:48:26] Doug: Well, Joe, here’s what we gotta do based on what we learned today. [00:48:29] Doug: First, take some advice from our main topic today and move that money sitting in the wrong place right now. It’s probably costing you more than you think. Second, try this out from our TikTok minute. Those tools you wanna buy today, probably free after you use ’em just a few times or not. Results may vary, but what’s the biggest to do? [00:48:51] Doug: Never. Ever tell Joe’s mom, you wanna celebrate national Hug Your Cat Day with her? That woman has a sick mind. This show is the property of SB podcasts LLC, copyright 2024, and is created by Joe Saul Sea High. Joe gets help from a few of our neighborhood friends. You’ll find out about our awesome team at Stacking Benjamins dot com, along with the show notes and how you can find us on YouTube and all the usual social media spots. [00:49:20] Doug: 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 with a real financial advisor. I’m Joe’s Mom’s Neighbor, Duggan. We’ll see you next time back here at the Stacking Benjamin Show. [00:49:46] OG: Everybody knows you sort by best return for the one year. [00:49:52] Joe: And now Sammy, it might be time to get whoops. Happened there. Okay, I got two carried away and I hit two buttons at once. That’s what we say, Sammy, it’s time to, damn it. I did it again.
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