Today we’re all about the factors to help you build a better investment portfolio. Joe and OG break down their thoughts as they dole out their top five building blocks to constructing a better portfolio. Be sure to bookmark this evergreen episode, as it contains universal truths that will help you in the years to come!
In our headlines, we talk about what’s the best way to prepare for unexpected financial shocks, and when to get started (spoiler alert: how about now?). We dive deeper into how to protect your downside in the event of black swan events. Our TikTok Minute is all about how to get 90% of the way to your health goals by using one simple trick.
Stick around for Doug’s US currency history-related trivia.
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201
Enjoy!
Our Headlines
- How to recover from a big financial shock (MarketWatch)
Our TikTok Minute
https://www.facebook.com/reel/170479052724229
Doug’s Trivia
- Who was the first woman to appear on US currency?
Have a question for the show?
Want more than just the show notes? How about our newsletter with STACKS of related, deeper links?
- 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).
Other Mentions
- How to Create an Investment Policy Statement
- The Simple Path to Wealth, by JL Collins
- Just Keep Buying Stocks (with Nick Maggiulli)
- Five Building Blocks for a Sound Investment Strategy | Kiplinger
- Looking to add a financial professional to your team? Visit stackingbenjamins.com/OG to get om OG’s calendar and find out if he and his team can help you reach your financial goals
Join Us Wednesday!
Tune in on Wednesday when we dive into how to clear the emotional deck and let data drive your decisions with professor of marketing at the New York University Sloan School of Business and successful investor – Scott Galloway.
Written by: Kevin Bailey
Miss our last show? Listen here: We Dissect The 4 Main Paths To Becoming A Millionaire (SB1505)
Episode transcript
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It’s Monday in America. You know what that means, everybody? ─ We, well, it’s Monday, no matter where you are, isn’t it? In some places it might be Tuesday. Heck,
could be Tuesday or Sunday. It’s possible.
Depends on what time could be. If you’re in Hong Kong right now, I suppose. ─ Anyway, here’s what we do. We salute our members of the military who kept a safe all weekend.
So raise the glass everyone, because on behalf of the men and women at Navy Federal Credit Union and the Men and Women making podcast in mom’s basement, here’s to our troops. Thank you so much for all that you do for us. ─ It’s ghost eggs and
S together
mine’s Tequila
OG. Iss already into the gin and tonic first thing on Monday morning.
Really? 5:30 AM og and you’re already doing gin. My can definitely doesn’t say IPA. It definitely doesn’t say. ─────
Ignition sequence starts ━ 6, 5, 4, 3, 2, 1, 0. All engine running lift off. ━━━━━─━━━━─━━━━━─━━━━━━
Live from Joe’s mom’s basement. It’s the Stacking Benjamin Show. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
I’m Joe’s mom’s neighbor, Doug. And how do you invest for success? Well, if you’re not sure of your approach, you don’t have to wait any longer because today Joe and OG share their top five building blocks to building a successful portfolio. In our headlines, what do you do when there’s a huge financial setback in your life?
We’ll share strategies for our TikTok minute. How does your physical activity enter into your financial plan? I’ll bet you a dozen cream filled donuts you don’t know. Plus, we’ll throw out the Haven Lifeline to a lucky. Dacker and I’ll be sure to share some amazing and always brilliant trivia. And now two guys who aren’t often called amazing or brilliant, at least in their choice of dad jeans.
It’s Joe ━━ and O ━━━━━━ Jean. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
I dunno. Gee, I think you’re looking pretty hot in those dad
jeans, dad jeans. It’s called Dad Lulus to you. Thank you very much. ────
You bedazzled them too. I like that. I did. Well. You just do it down the side. Spend some time on ’em. Hey everybody. Brian Stones. Welcome to the Artsy Financial Podcast. I’m Joe Saul-Sehy, average Joe Money on Twitter, on x on uh, that platform.
Glad you’re here with us for another Stacky Benjamin Show and, uh, og. Happy, happy day my friend.
Happy, happy day to you as well, amigo. Absolutely.
Okay. We got a great show today because we’re doing a top five, Doug top five. And not everybody loves them. Not the top five donuts that we’re gonna be eating.
Bear claws. ━ Apple, frit donuts,
French curlers, ── no cider. Standard cider house like cake, donuts,
Boston. Cream cake. Donuts suck. Boston Cream suck.
Oh, Boston cream’s. So good. Now I gotta come up with a fifth. So little twist ones.
Yeah. That that’ll work. There’s also, hold on. Oh, Doug. Those should be outlawed in like five different countries.
Don’t say that type of donut again. Alright. Okay. So I won’t talk about that one anymore, but what about here? This one right here. Oh, that’s so disgusting. Really’s. How does, how does it even qualify as filling? og? That shouldn’t even be, that’s not a filling jelly. That’s, ugh. ─ Ugh. Little
shrimp puree never hurt inside a donut.
Top fish, donuts, ━────━ yuck.
It works for tacos. Why not? ─ All right, we got a top five coming up of, first a big headline, so let’s go. Don’t get me started on fish tacos. ━
Hello darlings. And now it’s time for your favorite part of the show, our Stacking Benjamins headlines.
Our headline today comes to us from MarketWatch and uh, maybe a little evergreen one here written by our friend Kimberly Palmer.
Kimberly’s been on the podcast before. How to recover from a big financial shock. Oh gee, this is something we don’t talk about much is that, you know, Kimberly writes that there might be a couple times. In your life when you have a huge financial, you get a
financial shocker. ─━──━─━
When you have a huge financial, ────────────━──━━
when all of a sudden you go, whoa, ─ hey. ─ Can that be the subheading for our show title? Stacking Benjamins, the financial Shocker. ─━━──────── That’s gotta go on the new logo. ───────────━──
Oh gee, there’s a couple times in your life. Uh, according to Kimberly, she said, looking at a bunch of statistics, uh, nearly all of us once, twice in our life, where all of a sudden there’s just a big amount of money due. All at one time and you’re really not sure how to get over it. So she talks about, you know, what best time to prepare for that is right now, probably a good opportunity for us to talk about it here on the show.
So, uh, what’s our first step to making sure we get ready for that big financial shock that might come?
Well, I, I think the first thing is recognizing that it actually can. ─ You know, you talk about whatever insurance or risk or whatever, it’s always the other guy. I’m a safe driver. I never get in accidents.
It’s like I will never slip and fall down the staircase or my water heater never breaks. You know, ━ it’s like it does sometimes and you have to accept the fact that stuff with a little asterisk, you know, stuff happens. Right?
Absolutely. And this is where the emergency fund comes in. I know that we’ve gotten pushback in the past OG, about emergency funds because for several years there cash didn’t pay anything.
I mean, you sit there looking at a cash account back, you know, a couple years ago and you’re earning half a percent. And uh, okay, now if you’re at in the top 1%, if you go look at, uh, deposit accounts.com, you’ll see maybe you’re getting 5% now, but still people say, well, that’s beatable if I just put money in stocks.
But really this emergency fund can’t be in the stock market.
Well, no, I mean, the reason that you are allowed to have so much money in stocks is because you have an emergency fund. ─ You know, obviously there’s been lots of times over the last 20 years, 50 years, a hundred years, where the market’s gone down and it’s Murphy’s Law, you’re gonna have an issue, you’re gonna have a financial need at the same time that the market’s down 20%.
So you don’t want to have your, your emergency money, uh, locked up in stock returns. Or another popular one is, well, I’ve got a credit card. Right? And they sometimes like to turn those things off. If things are getting a little snug, if the economy’s changing a little bit, banks have been known to call those uh lines and say, yeah, we’re not gonna do those anymore.
I was gonna ask you about that though. You know, a home equity line of credit, most banks have a fee to keep that open every year, even if you don’t use it. Do you keep that open just as a second tier og, just in case for that, you know, that big Black Swan event?
Yeah, I mean, absolutely. For sure. You, you, there’s nothing wrong with having it, but recognize that there’s a beginning and an end to that contract.
The bank may say, Hey, the draw period is for the next 10 years. The payback period is 10 years. You know, you have it open for nine and a half years and then the 10th year shows up and they go, uh, ━━━━ we don’t wanna renew that, or You didn’t use it, so we’re gonna close it. It’s not an always their type of situation.
I think it’s interesting with interest rates now paying more, uh, you said this on a show back in the fall. That there’s a lot of people out there with money sitting in cash, and they have not paid attention to the fact that interest rates are higher on cash. And maybe, maybe we should.
Yeah, I mean, the reality is, is that most people have a lot of excess cash laying around in their savings accounts and in their checking accounts because for, I mean, basically the last 20 years, it hasn’t been an issue.
You haven’t had to think about cash. It really didn’t matter that much. You were talking about. 1% or 0.8% or something like that. And now, you know, we’re seeing hundreds of thousands of dollars as we talk to people every day about, uh, their emergency fund. And it’s like, we’ve got all this cash as a society sitting at Bank of America getting 0.4 when you can be getting four or five or, or whatever.
Yeah. If you just, just take a little action,
check out current rates. We’re obviously recording this, uh, earlier than you’re hearing it, so check out what they’re now. But definitely higher than the half a percent. We looked at it before CDs for a long time. ━━ OG have not been in Vogue. CDs back, should people be looking at CDs for their emergency fund? ─
Well, I mean from a cash standpoint, if, if you are trying to get a better return, sure. But I like the idea of laddering CDs a little bit more, where you know, if you’re gonna buy a. Let’s say a year long CD for $10,000. Why not say 2,500 bucks every quarter for the next year so that you, you’ve got a rolling $2,500 coming available to you in three month increments, you know, from that point forward.
I think it’s a little safer from a liquidity standpoint than locking money up for a year or two or three
when you get to the point. Let’s say that you haven’t built that yet. Kimberly talks about some other options. She talks about first, obviously cut back on unnecessary expenses. You know, you can’t change your rent easy easily.
One person says that she quotes here, but you can adjust how much you spend on going out to eat, travel, entertainment, clothes. You’re obviously gonna do that. But the second area is interesting for some of your bills, you can ask if there’s a hardship option. We saw this a lot back in 2007, 2008, right before, uh, people struggling to make the mortgage, people struggling with, uh, losing their job during that, uh, horrible time.
Uh, the hardship option, I think is one people forget about, especially after a time of. Good stuff happening like we’ve had in the past.
Not only that, but also the flexibility that people want to work with you. There’s a lot of stress around money, conversations of any kind. I was just changing our TV programming, you know, kind of going through and doing the audit of all the stuff that we have, and we have a service that we don’t need anymore.
And so I called to cancel. Of course, you gotta go through the phone tree and then you gotta go through the sales person that’s trying to keep you, that’s their job. Um, we were paying $180 a month and their offer was 40 bucks a month. Oh my goodness. To stay, you know, ah, that’s for a year. And then we go back and da, da da, da da. ─
But that also applies to all the other things in your life. I mean, you probably can’t get cheaper electricity, but you can get a better cell phone plan. You can, you can negotiate interest rates on your credit cards if you’re, if you’ve got consumer debt and you haven’t called the the bank and said, Hey, is there something we can do about this?
You know, like 30% is just too much. I’m struggling. They wanna work with you. They don’t like to write this off. They’ll knock it down to 20% maybe, or 15, or give you a six month window or. Or something to kind of move ahead. So you just have to ask for what you want to have happen, and you’d be surprised at what’s really out there.
Kimberly also addressed creating a timeline and finding support, people sharing your goal with friends and family members so they know that you’re trying to reduce spending their, their empathetics and not like what happened to you, why’d you fall off? And that, that takes some guts and, but I love the place she end.
Don’t forget mental recovery. It may be helpful to focus on the mental health side, remind people going through a financial shock, things are going to get better, he says. Just a temporary hiccup. I remember when I was really felt like I was screwed for money, I just kept reminding myself, this is temporary.
I’m gonna gonna make it through it. We will link to this on our newsletter, the 2 0 1, uh Stacking Benjamins dot com slash 2 0 1. Always free, always out with links. And more on this topic the day after our show. ── Time for the TikTok minute. This is the part of the show where we dive into something a TikTok creator made either brilliant, you know, like some tiktoks or air quotes.
Brilliant. Which is the rest of them. And og, let’s turn to you today. You think this can be brilliant, super brilliant. Well, let’s
absolutely. About
how often does he say that? Doug, who is this? Never. That’s my line, dude. Who are you? This is. An interview with a gentleman talking about, uh, uh, longevity and some interesting findings on longevity.
Let’s listen. ───
People think they have to go pump iron or run triathlons or do, you know, break a sweat, but actually walking gives you about 90% of the physical activity value of training for a marathon. And Ken Toman, he’s on top of all this data that if you are 80 years old and you can walk a mile in under 17 minutes, it adds about six years to your life expectancy overnight.
So. Just the act of walking. Now, I could ask you, Jay, or any of your audience to, you know, get out there and get your exercise, but if I can just create your city so it’s easy to get to your coffee shop, your kids’ school to work, right? You’re gonna get that, that walking, that’s gonna get you 90% of the physical activity you need.
That’s, uh, Dan Butner, who, there’s a Netflix special about Blue Zones. People living long amounts of time. He’s talking to Jay Shetty there. ─ But the reason I thought this was important guys, is because, you know, we often think, especially in the financial area, we gotta do all these phenomenal things. We gotta do all this great stuff.
And OG walking enough gets you 90% of the way. Just all you gotta do is just walk some steps. I mean, how often have we talked about that when it comes to financial planning?
Well, that, that’s kinda what I was gonna say, is that the corollary here to money is that it’s not the. It’s not all of the little intricate things.
It’s save money into your 401k save money into your brokerage account, save money into your 5 29. And it, it almost even doesn’t matter how much you do, it’s the fact that you do it and that you never actually stop doing it. ───
Doug, I, I mean, before you guys got all serious I was gonna say, I think I’m gonna live forever because I walk all the time.
No, you’re gonna live 90% of forever according to Dan, but. ─
I mean, it still counts, right? I’m walking, I just had probably 2000 calories of beer and onion rings. ────── I’m walking,
walking back and forth to the fridge. It
might might help you get partway back. Uh, I really like that. The, and the other thing too, og, I mean, how many people, especially in our community, focus on, focus on the financial part, but we also forgot that if you’re not healthy.
If you’re not healthy, who cares? I mean, you, you really, the money’s to support a lifestyle. And if you can’t keep up the lifestyle, I think it’s a one-two punch,
or you’re paying medical bills. I. Right. So you still need to do all of OG stuff so that you can pay the medical bills for, ’cause even if you’re not living very long, those bills at the end, your last three to five years,
there’s
a few
commas
in there.
It’s a lot, it’s a lot of money. Uh, great stuff. We’ll also link to the TikTok minute, uh, and Dan Butner just a, just a brilliant guy. The Kenny talked about, by the way, in there, Ken Dyal, who, og when you and I were at American Express, uh, Ken Dyal. Partnered with us for a lot of those longevity studies.
Mm-Hmm. Some interesting stuff on longevity, aging, the emotional process, and physical, of course. All right. Coming up next, OG and I are gonna walk you through the five pieces. We think it takes the five building blocks of creating a good plan to put together an investment portfolio. He’s got his, I got mine.
We haven’t seen each other’s, so we’ll see what’s on OGs list. He’ll see what’s on mine. You’ll get both of them. But before that, you’re getting some trivia. From my mom’s neighbor, Doug. ━━━━━━━━━━━━━━━━
Hey there stackers. I’m Joe’s mom’s neighbor, Doug, and you know who needs spring cleaning? When you can just keep up with it all year long. Doesn’t matter what month it is. Stay in front of it. I always say, I also say, don’t make stinky bubbles in the bathtub. But it’s just too much fun to stop. So, I mean, who knows?
Today? Let’s give you a question I thought of as I was sorting change outta my pockets before putting ’em in the washing machine. The pants, not the change. Geez, I’m not a money launderer. Here it goes. Who was the first woman to appear on US currency? I’ll be back with the answer just as soon as I go look it up.
I mean, um, you know, verify what I probably already knew. ─────────────━───────━─━━━━━━━━━━━━━━━━━━━
Hey there, stackers. I’m unnecessary Coin collector and Coinstar hater. I mean those fees. Am I right? Joe’s mom’s neighbor, Doug. Today I asked you a question that I totally knew the answer to ahead of time. I knew it. Not, not like those Jeopardy hosts who just read what’s in front of ’em. We’d never stoop that.
Low preparation is everything I always say. So here’s the question. Who was the first woman to appear on US currency? Turns out the first woman appeared on a $1 silver certificate in 1886 and a 1891, as well as on the back of the $1 Silver certificate in 1896. So who was it? If you said Martha Washington, you’d be correct, but Martha
Doug Doug.
It’s Martha, Martha Washington.
No, it says it’s right here in the script. It says Martha. It’s right, it’s right. ──
Sorry, dude, this, the script’s wrong. I accidentally put D in there.
Yeah, you apologize because I just got done telling people we’re better than this.
Okay. Well, I’m, I am so, so sorry. It’s the mother of our country who I think we all know Martha Washington.
Who appeared on currency first? I’m very sorry.
Whoa. Whoa. Hold on. She was the mother of our country too. Wow. You learn something every day. Holy cow. ─ Oh gee. What was it he was saying about doing research? ─
I wasn’t listening. ───━─━━───
I’m prac. Look, this is, this is how, it’s a new thing for me. I’m practicing just in time learning.
It’s like lean manufacturing. Go look it up. Do some research yourself. Oh God.
Just finish the trivia. ──
Okay. All right. The answer. Martha Washington, apparently the mother of this fine country. It is this country we’re talking about, right? It’s, we’re not talking about Canada.
No, this one.
Okay, cool. Got it. And now with their top five factors to help you build a better investment portfolio, it’s back to
Joe and OG ──── OGs been a long time since we’ve talked about this thing called an investment policy statement.
This is a document that people make to avoid just betting on the market, right? To avoid, uh, reacting. When things happen, either ups downs sideways in the market, uh, news comes out and you go, how should I react? And whenever anybody asks, oh gee, how they should react, oh gee always answers the same thing, which is ─
great.
Investors don’t react, they act,
and there it is. We’ve got our top five. Now, normally we take these kind of David Letterman ish, og, but I gotta tell you, I have problems with that this week because I think there’s kind of an order of operations here, right? There’s, there’s, I, I do this first, I do this second, I do this third, I do this fourth, I do this fifth.
So I’m gonna do mine that way. I. Did you have any stipulations or things on yours for your building blocks to creating a investment portfolio?
No, I probably didn’t do the assignment correctly. Then if yours is that way, which I
think Doug, he says every time for those of you playing at home, ─ you just got to scratch off the Bingo card with the one that says, I did do it correctly.
And you already got, I wasn’t listening, right. You got that a minute ago. So, card’s filling up. We are rolling today.
Doug. Getting the trivia wrong, man. You probably got three in a row right there. Here we go. Thank God we weren’t talking hockey nets. All right. Your, uh, well, we’re gonna call it number five for me.
It’s the top of my funnel, number five. Uh, what’s your number five? og? ─
Uh, yeah. So I don’t have any of these in any particular order. I thought about it, like what’s included Mm-Hmm. In, in an investment strategy. And you had said investment policy statement also. And so I just kind of thought big, broad brush strokes of.
Like, how do you create your investment strategy? And, and I think the first thing is you wanna set it up focused with two things, discipline and accountability. If you can make sure that the same thing is happening all the time, and that no matter what happens, you are in, in this case as it relates to investments, contributing the same amount of money, no matter what’s going on in your life, no matter what’s going on in the universe, no matter what’s going on in the economy.
And you have a process for checking in to make sure that you’re doing what you said you’re gonna do, whether that’s a third party provider that’s providing that accountability, or your partner or a colleague or a family member or something like that. Making sure that you’re doing what you say you’re gonna do over a long period of time.
And then somebody checking your math basically, and going, Hey, are you doing what you say? You’re gonna like a, like a running buddy, right? Yeah. You need somebody to, to go, Hey, did you do your mile today? ─ No, I’m really go get it done. I’ll wait right here while you knock it out. You know what I mean? What I like
about the second half of that though, the automation piece, is that rather than think about what am I buying today, og you think?
I think. Broader, which is the problem is never the market, right? The the, don’t get me wrong, sometimes the market is a problem, but long term, it’s not the market that blows up. It’s you that blows up. You end up being the problem in your financial plan. And I think the more you make things automatic, I. The more you have that buddy who’s telling you to leave your hands off it, the more you’re thinking about creating a machine and creating a machine is the best way to invest.
Not what do I feel like is hot today, what I feel like is hot today. Horrible way to invest, create a a, a machine is a great way to invest. ─
Yeah. And the accountability doesn’t have to be a person either. It can be that tool, that automation of your 401k as an auto increase thing, and you set it up to increase at 1% every six months.
Oh, good point. Yeah. You know, boom, set it and forget it. Do it for the next 40 years. You’ll be a go zillionaire. We did last fall.
We did last fall in episode. Remember with Len Penso. Len said when he first started his 401k, it’s, it’s a stretch.
He’s on the show. He’s, ━━─━───── he participates, I think is voice more accurate, ━───── contributes, feels a little.
Heavy
obliges value.
Yeah, I know.
But regardless of the semantics around len’s participation in this podcast is Len talking about how initially he didn’t think he could afford to put as much money as he wanted to in his 401k. So what did he do? Every time he got a raise, he automatically raised it right.
And that’s the kind of system I think that you’re talking about. ───
Exactly
top of my funnel, which I suppose we could call my number five. I think any portfolio you put together needs to begin with, what return do I actually need? Because I think where we, what we often start with is what’s hot? What’ll give me the highest return?
And when we go chasing returns, we’re much more likely to look into something, a phenomenon I always think of as what’s hot right now. And what’s hot right now is the thing that you’re buying high, that you’re gonna sell in a panic when it goes lower. We don’t wanna invest that way. We wanna look over the period of time until we need the money.
And over that time period. Different investments have done different things. As an example, if you’ve got long, long, long periods of time, small company value oriented stocks and ETF in that area gonna be super volatile, og. But 20 years from now, historically always been volatile way, way, way higher than it is now.
You get a 10 year period, maybe we’re looking at large company stocks. You got the first, you need the money. In three or four years, maybe we need to be looking at, uh, maybe we need to be looking at cash. I’ll get into more of that later. But I think if you start with what’s my target, right? What is successful investing versus not successful investing?
And you set that parameter, that’s gonna be the top of your funnel. That’s gonna drive the next four things I talk about.
Number four,
next up on my, uh, funnel then is okay. ─ What I was referring to earlier, what investments have historically done that and OG that’s often gonna be not just one or two. A mix of different investments has, has gotten you there.
And frankly we get very, uh, scientific about it. And being more scientific can pay dividends if you’re more of a sophisticated investor. But initially when you’re starting out, you know the thing I like about somebody like J Collins, for somebody who’s a beginning investor, the simple path to wealth is just realizing that you focus on stocks.
Hey, I got 15 years until I need my money or longer just focus on stocks. I can buy one fund and then that one fund. Just put money into that. Once you get a little more money under your belt. When Nick Majuli was on the show, he talked about you really start getting more scientific win. Your daily ups and downs mean more than that daily money you’re putting into it, right?
At that point, then you start looking at more complex asset allocation. But number two is when I’m setting up my investments, what types have done that historically, and that’s what we’re gonna focus on. The good news there, two og. Then I’m also probably looking at indexes versus individual investments because individual, like if I’m buying Apple stock, who knows what that’s gonna do next year. ─
I don’t know. But if I’m buying an index and Apple stock doesn’t do very well, well I might have 500, 600, 700, 800 other stocks in there that do do well and I’m, and I’m pretty buoyed, so I’m gonna, I’m gonna go toward indexes versus toward an individual position. And then number two, it’s also gonna narrow the field of things I’m looking at.
So I don’t freak out. I think people freak out ’cause there’s so many different investments out there. If I only focus on things that have done the return that I need, then uh, I’m much more likely to, uh, not experience that freakout factor. That’s my, I guess, number four.
Yeah, that’s what I was thinking about in terms of the, the benefit of knowing the number that I need to achieve eliminates 80% of my choices.
Beautiful. And so it’s like I don’t have to look at, I don’t have to think about any of these things. I’m down to, you know, these, this, you know, this top 20, so to speak.
And Doug, by the way, you, you might be asking ’cause. You’ve kind of pressed this on this before. Well, where do I look? Right, where do I look for, so, so let’s say I need 8%.
Where do I look for that?
Yeah,
you can go ahead and look at everything. And as, as you come across investments, that’s just your first weed out. You’re like, oh, has this historically done 8%? Gimme 10 years? Has it done? 8%? Yes. No. If it’s a yes, then it goes in the basket. If it’s no. So look, wherever you’ve been looking before, look anywhere.
Uh, look all over the place. Listen to podcast, watch videos. But now you have a criteria ─ that. Is the, I dunno, the strainer, the calendar, the filter, uh, that you use to go, okay, I’m gonna pay attention more to this, or, I’m throwing that out, I don’t need it. ───
Yeah.
And any one of those major brokerage companies are gonna have countless tools available to you to search whether you’re going to Vanguard, whether you’re gonna BlackRock, whether you’re searching on Fidelity or Schwab, like they have a screener for that.
And you can put that stuff in. Yeah. ── Uh, my number four is that your investment plan has to be dollar denominated. And what I mean by that is, uh, you were talking about your percentage. Hey, what sort of percent do I need to have my goal? I’m thinking about what the heck are you trying to get to? You know, the pursuit of more is not necessarily a great goal.
You know, you, you’re never gonna get to that horizon if you just go, ah, I don’t know. I gotta save money until somebody tells me to stop, or I die, or I retire. It’s like, well, how do you know if you’ve got to where you wanna go? You have to have some dollars associated with what your goal’s gonna look like.
And this doesn’t, again, have to be super complicated. It can just be how much money do I need to spend every year? Add inflation to it until I retire. And then, uh, divide that out to figure out how much of a lump sum you need at that retirement time, at the financial independence time to get an idea of what you’re trying to get.
You’re trying to get to a million bucks. You’re trying to get to 3 million bucks, trying to get to a hundred thousand for your kids’ college, or 300,000 for your kids’ college. What you’re trying to get to is also gonna matter in terms of how you invest that.
Yeah.
So if you don’t know what you’re aiming at, like, I, I don’t know, is this ambiguous number.
Then you’re not gonna choose great investments. You’re not gonna have the discipline and the accountability necessarily to get to where you’re going. ’cause you’re just wandering around in the forest with no ─── aim whatsoever. No path, no, I don’t know. There’s so many analogies here. ─── You’re lost. You’re like a ship without a rudder, like a ship or a sail, a
ship without wings. ─━
You’re like a, uh,
like a bird without a. Tail
without an anchor, a bird, without an anchor. You think this is getting more entertaining the longer you go. ━━━──━━─
I’m glad, Oog, you said that. What’s the number you’re shooting for? Because you know where I started that funnel was on what return you need. Of course, I skipped that first one, which is once you know what number you’re going for and then you know how much money you can put toward that goal, that’s gonna tell you what type of risk you need to take.
Right? What, or excuse me, what type of return you need to get? Because there’s only two, there’s only three factors in this equation. Super easy. The amount of money you need, times the return equals that goal amount you’re shooting for. That’s it. That’s it. It’s not that. And then you can play with those levers later.
You can see, okay, if I lower the amount of money I have, or if I don’t have enough money, then I can raise the rate of return, or I can lower the goal. Or if I wanna make, if I’m hitting it, I can make the goal bigger, right? I can play with just those three things and get where I want to go. ─
Number three. So I think after, you know, what you’re trying to get to, I think the next piece of this whole kind of investment plan is to decide whether or not it’s founded in reality.
A lot of times we get frustrated with, with our investment performance. I was talking to somebody a couple weeks ago and I say, yeah, you know, I just don’t, I just don’t feel like it’s doing what it’s supposed to be doing. And I said, okay, well, what’s your money supposed to be doing? I don’t know. It’s like, well, guess what?
You’re always gonna feel frustrated if you don’t know what the expectations are. You know, like you said at the very beginning, if you know what your investment return’s gonna look like or what it’s supposed to look like, now you can start putting some timeframes on that in terms of where should the hurdles be or where should the, the benchmarks be as I move through this process over the next 10, 15, 20 years or, or whatever the timeframe is.
I think a lot of people feel like they’re too late in the game and there’s no hope. Well. ─ I believe that you have more time than you think you do in terms of the power of compounding and the power of market growth. But by the same token, if you’re starting from scratch and you’re 45 and you have no money saved, the likelihood of you being financially independent at 46 is pretty low, and you’re setting yourself up for some disappointment to try to hit that when it’s just really not possible.
You know, so make sure your goal or, or you know, what you’re trying to achieve is founded in know somewhat reality. And if it’s not realistic, let’s talk about what, what would be realistic. I think that’s an important piece of an investment plan. ━
I. It’s funny that you have this reality check as your number three, because my number three is also reality.
Check in a little different way. Oh, there you go. Once you look at these investments that will get the return that you need, you have to stand back and go, do I have the risk tolerance to invest in these things? Am I gonna have, you know, we talked about small companies will get you where you want to go.
You’ve said this a bajillion times, og, there’s a roller coaster there. It’s hard to stay on. That is a hard, hard roller coaster to ride. So you have to know yourself to know, am I gonna stay on there? Now there’s tools to look at that one. If you go to a place called Morningstar, it’s free. You can look up the fund you’re thinking about, and we’ll give you a measure called standard deviation.
Now it’s more complicated than the way I’m gonna explain it, so. Uber nerds don’t come at me, but just very broadly, if the standard deviation is 15, let’s say, and the median return they expect is eight, that means there’s 15 up and 15 down. In a normal market, it is more complex than that, but just very gently, I think it’s a great way to think about it.
So you know where people are high fiving themself when they’re getting a 23% rate of return ── when it comes to. ── Standard deviation, 23% is a normal year. You know, you shouldn’t be high fiving yourself. This is what it’s supposed to do. However, in years when you’re sweating bullets because you’re at negative three, that’s also part of a standard return.
Yeah. For, for that. So knowing what that up and down bounce is gonna be with your investments, do I have the risk tolerance is a huge thing. And by the way, og, the reason I wanted to really bring this up is this, a lot of the time when you invest in your 401k at work, the first. ING thing they show you is what ─ a risk tolerance chart, and they’re like, invest according to your risk tolerance.
Very first thing. Results not typical. You may lose money. ─── Who cares what your risk tolerance is if you have no idea what you’re shooting for? That’s why it’s number three on my list. It’s halfway down the funnel. ’cause at first we have to set the mark. I could very safely be getting nothing done with my investments.
I could be very safely. Missing out on everything. But once I know what I gotta do, that changes the game. Then I go, okay, well this is what it’s gonna take for me to retire. I’m gonna hang in there. So that’s why it’s my numbers. Do not start off your 401k investing with what’s my risk tolerance ─ Number two.
Number two thing I think we gotta put in there is, uh, what happens if there’s one of those Black Swan events? If.
Christmas is canceled.
Well, yeah, ─ that’s, Santa doesn’t show up again. ━━─━━─── Only at the OG household. How many years have you gotten away with that in a row? Uh, it’s been quite a while. It’s great.
It’s, it’s, that’s a money saving tip right there.
Exactly.
Uh, kids, let me talk to you about black swans. Look, kids. I just got the memo. I don’t make the rules. I’m sorry. ─━
It’s not me. Don’t be pissed at me. Even pissed at Santa Claus. It’s them.
Doug did it? ─
Yes. And by the way, if any kids are listening to this, this could happen at your house too.
So don’t, don’t be laughing. I. This is, uh, ────━━━ Santa. Sometimes that’s just
our little gift to you parents. Santa
Santa sometimes has cutbacks, ── but, but we do have to ask, you know, I mean, during the time of, of nine 11, the pandemic, you look at these things that happen that come outta nowhere, and what are you going to, you need to build that into, I think, your investment policy statement.
What am I going to do? Because the last thing you want is what happened to me as an advisor around nine, 11 ─ tons of people wondering, what are we gonna do? Ask me, what are we gonna do, what are we gonna do? And you know what, og to the point that I was making outward phone calls telling people, Hey, here’s what I think your strategy should be. ─
This is it. And by the way, guess, guess what the strategy was. ─ Do nothing. ── But I think you gotta have the black swan written into your, into your IPS or into your strategy. So what do I do if a black swan occur? That’s my number two.
Yeah. We call that, um, lifeboat drills. Oh, good. Just, Hey, life is great.
Everything’s good. What happens if you wake up in your statements minus 20%? You wake up in your statements minus 30%, your statement’s minus 40%. I think that most people, back to that expectations thing from before we were talking about a minute ago, most people get frustrated because they don’t know what to.
Expect both good or bad. And if you say, well, you know, like to your point about standard deviation, hey, it’s totally normal to bounce between minus seven and plus 20. Like that would be a normal year. We’re not gonna, you know, da da da da. Like that sets the stage for, well what’s an extraordinary year?
Both on the downside and on the upside. What would warrant a conversation about this? ’cause we’re just kind of middling along between minus seven and plus 20. There’s, there’s nothing to talk about here. It’s when it’s minus 22 or minus 28, you go, whoa, you know, now we’re, we’re out there in those fringe events.
Yeah, I like that one minus, kind of somewhat related to this as well, for number two, which is a process for making decisions ── and, ─ uh. ─ Again, I think that most of the time when it comes to investments, we make decisions based on like which way the wind’s blowing. And you look at your workplace plan or money magazine or the news or whatever, like what sells well, what sells is the hot thing, you know?
And that’s really the sexy thing to talk about on CNBC, or it’s a sexy thing to write about in the news or post on Twitter. There’s a lot of research to suggest that the performance of the Outperformers tends to be significantly underperformers in the future. So just kind of put that in the back of your head, but more specifically, when things aren’t going your way, how are you gonna make decisions?
And the way that you decide how to make decisions is not. When you’re like in the firefight, you have to think about that in advance. Ergo, it should go in your investment policy statement of how are we gonna review this and how are we gonna determine whether or not we’re on track? And you determine whether or not you’re on track based on whether or not you’re on track for your goals. ─
There’s a lot of times we talk to people and we talk to ’em on the show. They’re like, oh, you know, my investment account’s only up 9% for this year. ─ It’s like, okay. ───── That sounds like a declarative statement to me. ━ You really mean that to be a question. Let me guess what your question is. ━ We’re playing the game mind reader, you know.
Well, the question is, is that good? ─ And the answer to is that good? Is ─ who knows. If you, to your point, Joe, about, you know, what, what are you trying to do? If your plan calls for nine and a half and you get nine all the way to retirement, you are screwed. ── You are screwed, you’re never gonna have enough money.
If you’re plan calls for seven and a half and you’re banging nine and you work an extra five years because you didn’t know you were there, you’re also screwed. So you have to have the measurement sticks for like, how are we gonna determine whether or not we were being successful? And then also when are we gonna make decisions?
And, and my philosophy, and I think a lot of great investors’ philosophy is this, if your goals haven’t changed, it’s very unlikely that your portfolio should change. ─── You change your goals, you go, Hey, I was retiring at 65. Now I’m gonna retire at 57. Okay, goals change. Maybe portfolio changes, right? I was gonna send my kid to college and pay for all of it.
Now I’m gonna set pay for half of it. Goals change. Maybe your portfolio changes. ───── But I don’t know that I would be radically changing my portfolio or setting up a process for thinking about radically changing my portfolio because. This person gets elected president, right? Yeah. Or this person raises rates.
Or lowers rates, or you know, they found water on Mars or whatever.
This is, by the way, different advice too than, than 15 years ago when you largely had mutual fund managers, because mutual fund managers, OG would get hot. They would get not. ─ And you would’ve mutual fund managers change, right? They get a new, the fund wouldn’t change, but the fund manager would change and we’d have to switch out because there was a new manager and we didn’t know what they did.
Yeah. And we were really buying Michael Price, not Mutual Beacon Fund, as an example.
So blast from the past.
Yeah. Right. So we needed to stick with the na. Those days are over. Like if you’re investing that way, I think it’s time to, uh, to move over to the broad-based index investing, because that helps you do exactly what you’re talking about.
If I’m in a broad based index and my goal hasn’t changed, why the hell am I gonna change my investment? If this, if this historically has gotten me there, why am I playing this short term stupidity game?
Yeah.
Doesn’t make any sense. I’ll tell you what I do like as an offshoot of that. That exactly what you’re talking about OG, is why I really like the yearly milestones is because when I would tell my client, Hey, we had to be up, you know, by this time next year we had to gain another.
I, I’m gonna make up a number, another $8,000. And we were only up another 7,000 between market results and putting money in. Instead of talking about who’s president, what’s the fed doing, what the hell’s going on with Congress, what’s going on with World Affairs? We’re not talking about any of that. We’re talking about what can I do to find that extra thousand bucks?
And once we take it from this court of stuff, we can’t ─ have anything to do with ourselves. Like we can’t influence any of that. We can certainly vote, I suppose, but we truly don’t have as much influence over That is what extra stuff can I do to make up that a thousand bucks today or in the next three months, whatever it is, ── it puts the power back where it belongs, and that’s with you doing the thing to make that hit that milestone.
I really like that focus. And that brings us to the big one. Everybody, number one.
Yeah. Mine really aren’t in order. So just, just to be clear, ─━
he just needs to keep repeating that. I was told there would be no math. No, this is,
this is the best one. Doug, I’m sure this is the best one. I was told
to make a list of five. ─
You know, I just put diversification. Don’t put all your eggs in one basket here for the last piece. And, and I think that when it comes down to, you know, an investment plan, all of these say the same thing over and over again, which is. ── Do the thing that you need to do to reach your goals, to create the life that you want to create.
But from a risk management standpoint, there’s 500 ways to get there. You know, we talk to people on the show all day long who are successful real estate entrepreneurs, right? They love real estate. They’re super great at it. They make bajillions of dollars. We talk to people who are successful business owners, and they’re really great entrepreneurs, and they’re very successful.
They make bajillions of dollars. We talk to people who are really great investment people, and they invest all their money in freaking target date funds. They make tons of money in their bajillionaire. How do you feel about that? Right? ─━ Yeah. Well, you know, but my point is, is that there’s no right way to do it, but I guarantee if you talk to the person who’s a really great, successful entrepreneur.
They, they’ve got a lot of money in their business, but they’ve got a lot of money outside of their business. If you talk to the person who’s a great real estate entrepreneur, real estate investor, they have a lot of supporting assets outside of that, whether it’s cash or other investments. You know, we can do that from an investment portfolio standpoint.
By, to your point, uh, Joe, what you’re talking about before about just buying an index or an asset class fund, you can get that diversification with one, two, or three kinda line items on your statement. You’re really owning. 8,000 different public companies ─ and, and many of us work for big organizations where we work for organizations that reward us with stock and those sorts of things.
And as you look at your net worth and you kind of chart it out, if you’ve got a lot of money stuck in one idea, ── whether it’s one company or one strategy, or one sector of the market, or whatever the case may be, I think you’re doing yourself a big disservice because. That singular idea is not likely to be successful forever, might be successful.
Now, AI might be successful in 2024, right? ─ Be great. But that doesn’t mean that it’s gonna be successful forever. ─── So be diversified and like my friend Nick Murray says, it’s, you know, your opportunity to trade away the opportunity to ─ ever make a killing in exchange for never getting killed. And that’s what diversification is.
It’s fabulous. Never having to say you’re sorry. ── It sounds simple, like, oh yeah, duh, we’re diversified. But you know, I look at, I talk to people all the time, like they kind of, everything’s, everything kind of funnels into one idea, right. You know, one strategy or what. It’s like all of my portfolio is NASDAQ stock.
Right? It’s like, okay, I get it. You know, it’s hot, it’s sexy, but, but it’s not always gonna be that way. It looks like it always is. Because that’s our recent experience
or that second guessing game you’re talking about.
Yeah. You,
you’d see it all the time. People go, are, are you sure this is right? Are you sure this is, yeah.
This is scientifically proven versus your sandwich you ate for lunch. That’s telling you that, you know what, maybe we need more mayonnaise in this portfolio. You know, I mean, it’s, it’s just, it’s Cole Law. Yeah. On the edge, back off. ━━━── Uh, my number one is also very fundamental, which is how am I gonna make adjustments and by how much?
And, and you got this og, if I am within what percentage that I was shooting for, am I gonna look at making an adjustment? And if I do make an adjustment. How much adjustment am I gonna make? Maybe conditions change. Maybe I do wanna play that game a little bit in the market. Maybe I want to tweak it. How am I gonna tweak it?
When do that stuff ahead of time, when you’re of sound mind, so that you don’t make that move where it’s all NASDAQ or it’s all small cap or it’s all whatever. We all feel those urges and by giving yourself those guardrails, you can protect future you from doing something really dumb with your money. By specifying, I’m gonna look at this twice a year.
I’m going to rebalance to get back to the percentages that I wanted each of these to be. ─ And I’m only gonna do this if my drift is off by 5% or more. You know, whatever the number might be. That’s the type of thing that you’re gonna put down there. Were so many more OG that uh, were on this. And by the way, I gotta say, uh, the inspiration for this came from a piece in Kiplinger, which is by our friend who’s been on the show a few times.
You didn’t
tell me that it was already written somewhere.
Eric Roberts, uh, the CFP wrote a piece in Kiplinger that I liked a lot. You know what he included that we didn’t include? Either one of us was. He talked about tax planning a little bit. I’ll include his list of five as well. Uh, that’s a bonus for everybody, but don’t get me wrong, Eric, I think that, oh, geez.
And mine were better than yours, but,
but he’s the one that wrote it down in a magazine. We’re just talking about it on the radio. ── That’s, that’s right. So he would disagree with you.
Yeah, Eric is, uh, an awesome dude and, uh, glad he was able to inspire me to say, you know what? Let’s see OGs take on this, and I think you knocked it all the apart, my friend.
Nice job. Oh,
you too.
Today we’re gonna skip that lifeline because I’m looking at the time and instead we’re gonna roll into the back porch. Back porch is the segment of the show, the final segment of the show, which always starts with our community calendar. And, uh, Doug. What do we got on tap, my friend?
Well, first thing I,
I’ve got a great review that I just can’t wait to share with everybody, but before that, I wanna make sure to remind everybody to follow us on Instagram. We always have a great slate of guests and topics we cover on Instagram Live. I. Uh, at least once a week, sometimes a couple of times a week.
So make sure you go follow us on Instagram, but lemme get to this review ’cause there’s some, it’s a long review, but it’s just gold and I’m gonna just take some snippets from it. Oh boy. The ti Yeah. The title of it is not sure what kinda show they run here, but it’s a good one. We’ve wanted that
for
14
years.
What kind of show we run, ─━─
this is from somebody called. I think it’s level two ev, LVL two, ev. So let’s say level two ev. Uh, I’ve been coming down to the Stacking Benjamins basement for man about the last five years, and oh boy, what a ride it’s been. I gotta say, this show is like a fine wine. It continues to get better with age, or at least that’s what jokey telling himself now. ─────
Oh yeah. This is fantastic. Now let me get to the good part. Skip all the OG stuff. We’re gonna skip all the, yeah. I would love to, except there’s nothing to skip, sadly. Oh, sorry. OG talk. Take that up with your therapist, og. So now let me get to the good part. Oh God, neighbor. God, the saving grace of the podcast.
Without your witty, quips and insightful commentary, I might as well be listening to a recording of my grandma gardening. ━━━━━━
Wow. ─────━
Thanks to Doug and his trivia, I’ve got a reason to stick around now. There’s a couple of, I’ll just, I’ll fast forward here again. Again, grandma,
wait a minute. Let’s talk about grandma gardening.
’cause og, that could be thrilling. Just that could be, we’re not, we’re not gonna doubt that. Uh, we’re like grandma gardening, but we will say that, uh, that could be just amazing. It’s
so soothing and relaxing. Just the sounds of nature. Oh, just imagine the, the little light click, click Tink tink of the tools.
Hey, everybody needs a podcast to fall asleep to. Yeah. Uh, so I’ll move on here a little bit later. Uh, uh, level two, ev says The sheer absurdity and randomness of the show are a guilty pleasure. I can’t resist. So thank you. Stacking. Benjamins, gang ────━━─ Absurdity and randomness. We so
thank you. We don’t want them in any of our like 16 planning meetings to create the randomness.
I know. ━──────━─━
This is the most choreographed randomness right? Anywhere in media right now. So, uh, thank you Stacking Benjamins gang for teaching me. Well, whatever it is you’ve been teaching me. All that being said, Stacking, Benjamins is a breath of fresh air in the finance media space. It’s informative, up to date, well produced, and most of all, fun to listen to.
Wow, Joe’s an incredible knack for opening up guests and providing some of the best exploratory. Directive commentary I’ve seen for almost any show and puts in the time to research and provide the most to his audience. ─ Let’s not forget how handsome and intelligent Doug is. ━━━───━─━─ I don’t think
that’s in a review.
Oog.
I think I might have just added that in it, but that’s, I mean that’s, I’m reading between the lines. I have a special ability to sort of. Suss out subtext. But no, that’s all. All of that’s legit. Except that last sentence. That’s a great review. If you wanna get
OG to play along, reviewer, you gotta, you gotta mention him.
You,
yeah. You have to mention him. Well, there’s one brief mention about OG steak dinner. I.
Oh, that’s a lot of
that’s in there.
Lot of content there.
That’s it. Thank you. Level two, ev and please everybody give us some more reviews. We’ll probably give you some stuff. They ev this team at sacking Benjamins.
Love giving stuff away to everybody but one person. So you got a shot. Just give us a review. ━──
Doug, since uh, OG was, uh, not in that review, let’s do something that I think OGs gonna really like. This was a. As I was out scouring for TikTok minutes, I found this and, uh, this is a, I believe, well, it’s a small aircraft.
I think it’s a Cessna. I don’t know. OG will probably know. In fact, I don’t know if they identify, but I do know it’s a small aircraft and it’s, it’s between the, uh, air traffic controllers. It’s a conversation between the air traffic controllers and the aircraft. ──────
55 0 9. ━━───━━━━━━━━━━━━━━────
Blue Street, 55 0 9 traffic, 12 o’clock opposite direction. One zero miles ━ a uh, F 35 at 4,000 feet northbound. Alright, Nick,
we’re gonna stop you right there. F 35 ─ coming over him. Let’s take a zillion dollar plane, right? We’re about to have a fighter jet coming over him. Anyway, let’s listen. ─━
Contact Blue Street 55 0 9. ────━━━━
Five, nine ━━ traffic below ━━━━━━━━━━━ six. ──━━━━━━━━━━━━━━━━━━━━━━━━━───━━━━
Hey, that might be the funniest thing I’ve ever heard in my entire life, man. ━━━━━━━━━━━━━─━━━━━━━━───────━━━───
Dude, it is. Cessna ──── too close to missiles.
It’s pretty funny. ━━─
And I like how a TC, they have no, like, they never break their voice. Never, ever. I mean, that guy could have been laughing like crazy, but it’s, that’s the funniest thing I have ever heard. That’s right. ─────── Thank you for brightening my day. ─
You can see him at the holidays. ──
Oh, I love the watch. It’s a great watch. ─ Well, if you’re not here to, uh, hear about air traffic control or to get OG going like, he clearly is now Doug. Yeah. What
the hell? We, we put this whole segment in just for you and we’re getting Mount Rushmore stone face over here. What else do you want me to
say?
Like, it was cool. Just nothing.
Something Piloty. ━━━━─────
Uh, if you’re not here for that, you’re here because you wanna make, uh, you wanna make better financial decisions and put a stone cold killer in your corner, apparently ━ nice. Second Benjamins dot com slash og we’ll get you the most, uh, equanimity ever in a meeting that you’ve, uh, had.
Head to Stacking Benjamins dot com slash og and you know what? You can make better decisions in the future for your financial plan than you did in the past. He and his team will share with you how they can interface with you to, uh, make that happen. All right. That’s gonna do it for today, I think. Oh, so that was, uh, what was the word they used?
Doug, uh,
chaos. Or, or, or what? Um, oh yeah. It was, um, ── absurdity and, um, choreography. Randomness. Randomness.
Yes. Yeah. That was
random. The sheer absurdity
and randomness of the show. We didn’t see that coming. I thought we were gonna get more there, but apparently not. So Doug, what should we have learned today?
Well, Joe first take some advice from our headline. Sure. Emergency funds don’t earn much money, but the next time you suffer a catastrophic financial event, you’ll be glad you have it. Start funneling some money into that rainy day fund today. Second, take some advice from our top five. Working your investments is always better when you think about what you’re trying to achieve for yourself rather than responding to world or current events.
But the big lesson. ─━── Turns out Martha Washington was quite the badass. She was an early settler, and among all of her amazing qualities like running an estate and managing the family financial picture, she was George Washington’s sister. ──━━─── Are you? Are you kidding? She was married to him. It was George Washington’s wife.
Oh God. Oh god. That’s disgusting. That’s just wrong. Well, you know, they probably didn’t have laws about that back then, dude. How about cracking a book once in a while? ────────────
This show is the Property of SB podcasts LLC, copyright 2024, and is created by Joe Saul-Sehy. Our producer is Karen Rein. ─ Karen and Joe. Get 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.
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 Moms Neighbor, Duggan. We’ll see you next time back here at the Stacking Benjamin Show. ─━──━━─━━──────────────────────────────────
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