Tag: retirement tips
Retirement Tips | 2 Ways to Earn Interest and Delay Taxes
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
So, what are the 2 ways to earn
interest and delay taxes? Great question. I'm glad you're here. My
name is Stan The Annuity Man, I'm America's Annuity Agent, licensed in all
50 states. This is part of my retirement tips series on the Stan The Annuity Man
YouTube channel. Which I hope you can hit subscribe or
hit the bell. I think the bell alerts you to when these come out.
By the
way, spoiler alert: They come out every single day, Monday
through Friday. So, we're just getting started. I want to educate the public on
all things annuity. But let's talk about this. Let's get into
the details, let's do facts. Not fiction, not sales pitches. But only
after this music. So, what are the 2 ways to earn
interest and delay taxes? You know, I always say an annuity for what it will
do, not what it might do. Not the unicorns
chasing the butterflies, the hypothetical theoretical, back-tested, hopeful-agent scenario that you see and hear. And you go, "Wow,
that sounds too good to be true." It is too good to be true.
You know, annuities are contracts. You have to understand that. So, what are the
2 ways to earn interest and delay taxes in the annuity world that you need
to be aware of? I've written books on multi-year guarantee annuity and fixed
index annuity. Go to theannuityman.com. Sign up there
and I'll ship the books for free and you'll just get them in the mail.
No
obligation, no cost. So, let's talk about multi-year guarantee
annuities. Multi-year guarantee annuity is a fixed rate annuity.
It's the annuity industry version of a CD.
So, for instance you can get currently at the time of this taping, you can get a
3-year multi-year guarantee annuity. In other
words, you're locking in that interest for 3 years.
In this case, most states have an interest rate around 3%.
So, for those 3 years, you're going to get 3 percent and it's going to
compound tax-deferred. Eventually when you pull
money out of an annuity, any type of an annuity,
you're going to pay taxes at ordinary income rate levels.
And you just have to
know that. I mean anyone that says to you that they can get you an annuity
that's tax-free income that they can't. That's
the IRS doesn't allow it. But what the IRS does allow (and this is pretty cool)
is they allow you to defer taxes. And a lot of people out there are
in very, very high tax brackets. They don't want to lose a penny. But they
also want to earn interest. Multi-year guarantee annuity is a very
simplistic way, a fixed rate annuity way, you know exactly
what it's going to do, what it will do.
Not what it might do. There's no might do. There's
will do. Will do with multi-year guarantee annuity is that
interest that you're going to get paid and you can actually peel.
Most of them allow you to peel it off and and put it into a bank account if
you want to. But in this case, you're looking for a
way to delay taxes and put it off and tax defer
and get interest. Multi-year guarantee annuity is a great
way to go about it. And you can ladder them. You can buy like
a 3-year, 4-year, 5-year or 7-year. They can go as far out as 10
years or more. But in my opinion, you always try to keep the maturity
short with multi-year guarantee annuities with the hope
that interest rates go up. Okay, the other way to earn interest and delay taxes
is with an indexed annuity, fixed indexed annuity.
Back in the day,
they were called equity indexed annuities. But now they're called fixed
index annuities. They were designed in 1995 to compete
with CD returns which is exactly what they do. They are not securities. They are
life insurance products that are issued at the state
level. So, people that want to push them as
market return products, they're really not. They're cd products. Now, some years
can be a little bit better than others.
But the blended return since 1995
has been in that cd level. The good news about index annuities is
that when the interest is locked in, in other words, whatever gain on that
call option that you've done… And by the way,
I've done a series on indexed annuities you might want to check out that
explains caps and spreads and participation rates
and all that stuff that's part of the series I did on indexed annuities. So,
whatever that locks in at, I mean, it never goes below that. So, you just stair
step up hopefully that that interest locks in. And if the
markets go in the toilet, you don't lose a penny. Now, the good news
when used like multi-year guarantee annuities and indexed annuities,
when using a non-IRA account, then that growth
grows tax-deferred and compounds. Which is a good thing.
Because there's a lot of you out there that don't want any more taxes.
You're
at a high tax bracket where you just want to protect the principal
and just have interest hit and defer the taxes down the road. In other
words hockey analogy, is kick the puck down the ice a
little bit. Eventually when you pull it out, you will have to pay taxes on it but
with these 2 products –indexed annuities and multi-year
guarantee annuities. You can earn interest
and delay taxes. Alright, let's stay on the subject on indexed annuities a
little bit because in addition, if you just bought an
indexed annuity and said, "Okay, Stan. I don't need income or i don't need any
i don't need any whistles or barrels. I just want
that index call option return, whatever that is to be credited to the account. I
don't want to pay taxes on it. I want to delay it but I want that interest credit."
Fine. There's no annual fees. It's very… You know, we'll shop all carriers for the
best cap spreads, participation rates, strategies involved. We need to talk
about that go to theannuityman.com and sign up there.
Or if you
want to discuss it, you can just hit the comments down here
on my YouTube channel. I do check that and we will answer you as well.
But I wanted to talk to you about indexed annuities with
income writers. Now, I've written a book on income riders that I'll send with the
other ones. The fixed indexed annuity one and the
multi-year guarantee annuity book as well.
But at the time of application, you can attach what's called an income rider to
a fixed annuity. What an income rider is is an attached benefit that grows
separately. So, if you draw a line down the middle of a blank sheet of paper,
index option stuff here income rider calculation is here. And you can use this
side to calculate a future income payment. Now, the good news is
typically that has an interest rate attachment that it grows
by as well and it's not true interest because you
can only use this to calculate your first income payment.
So, it's kind of a phantom account monopoly money.
But it does have a growth
percentage with most of them that it grows by. But it grows tax
deferred. So, again, if you're looking for interest to
grow and to delay taxes, you can have a fixed indexed annuity
standalone without the income rider. Or you can have a fixed index annuity
with an income rider. Either way, both sides of that calculation… Remember
i did that the accumulation value and then the income rider.
Both sides of that calculation and there are separate calculations
are going to grow tax-deferred.
Which is a good thing.
So, once again, you need to talk with me and go to theannuityman.com. Set of time
and let's talk about what you're trying to achieve.
It really comes down to 2 questions you need to ask and answer. Number 1,
what do you want the money to contractually do and number 2
when do you want those contractual guarantees to start?
In this case, "Hey, Stan. I want interest. I want to delay taxes."
Then we need to go shop MYGAs, we need to go shop index annuities for the best
contractual guarantees for your specific situation.
Hey, I've done a
series of these retirement tips video. I encourage you to go check them all out.
You can go to the playlist right below me and you can see the whole series and
look at them one by one to see which one applies to
you. Remember this with multi-year guarantee annuities and fixed
indexed annuities. You can use our proprietary calculators at theannuityman.com to run the quotes yourself. We have a
live feed of the best fixed rates for your specific state. You just filter by
your state of residence and the duration that you're looking at.
24/7, 365 you can shop that at your leisure. Let me know if you're interested
we can coordinate the paperwork. And with index annuities, a little bit
more of a complex product.
But with both products, we need to talk one-on-one me
and you. You and The Annuity Man, America's Annuity Agent.
The number 1 agent in the country. I will shoot it straight if you haven't
caught that from me by now. It's going to be a
brutally factual conversation. I'm going to put your interest first
from a fiduciary standpoint. That's the way it should be with all
conversations and i will tell you if annuity does not fit.
I promise to do that. Hit the subscribe button. I'll see you
on the next Stan The Annuity Man video. you.
Retirement Tips | 2 Ways to Earn Interest and Delay Taxes
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
So, what are the 2 ways to earn
interest and delay taxes? Great question. I'm glad you're here. My
name is Stan The Annuity Man, I'm America's Annuity Agent, licensed in all
50 states. This is part of my retirement tips series on the Stan The Annuity Man
YouTube channel. Which I hope you can hit subscribe or
hit the bell. I think the bell alerts you to when these come out. By the
way, spoiler alert: They come out every single day, Monday
through Friday.
So, we're just getting started. I want to educate the public on
all things annuity. But let's talk about this. Let's get into
the details, let's do facts. Not fiction, not sales pitches. But only
after this music. So, what are the 2 ways to earn
interest and delay taxes? You know, I always say an annuity for what it will
do, not what it might do. Not the unicorns
chasing the butterflies, the hypothetical theoretical, back-tested, hopeful-agent scenario that you see and hear. And you go, "Wow,
that sounds too good to be true." It is too good to be true.
You know, annuities are contracts. You have to understand that. So, what are the
2 ways to earn interest and delay taxes in the annuity world that you need
to be aware of? I've written books on multi-year guarantee annuity and fixed
index annuity. Go to theannuityman.com. Sign up there
and I'll ship the books for free and you'll just get them in the mail. No
obligation, no cost. So, let's talk about multi-year guarantee
annuities.
Multi-year guarantee annuity is a fixed rate annuity.
It's the annuity industry version of a CD.
So, for instance you can get currently at the time of this taping, you can get a
3-year multi-year guarantee annuity. In other
words, you're locking in that interest for 3 years.
In this case, most states have an interest rate around 3%.
So, for those 3 years, you're going to get 3 percent and it's going to
compound tax-deferred. Eventually when you pull
money out of an annuity, any type of an annuity,
you're going to pay taxes at ordinary income rate levels. And you just have to
know that. I mean anyone that says to you that they can get you an annuity
that's tax-free income that they can't. That's
the IRS doesn't allow it. But what the IRS does allow (and this is pretty cool)
is they allow you to defer taxes. And a lot of people out there are
in very, very high tax brackets.
They don't want to lose a penny. But they
also want to earn interest. Multi-year guarantee annuity is a very
simplistic way, a fixed rate annuity way, you know exactly
what it's going to do, what it will do. Not what it might do. There's no might do. There's
will do. Will do with multi-year guarantee annuity is that
interest that you're going to get paid and you can actually peel.
Most of them allow you to peel it off and and put it into a bank account if
you want to. But in this case, you're looking for a
way to delay taxes and put it off and tax defer
and get interest.
Multi-year guarantee annuity is a great
way to go about it. And you can ladder them. You can buy like
a 3-year, 4-year, 5-year or 7-year. They can go as far out as 10
years or more. But in my opinion, you always try to keep the maturity
short with multi-year guarantee annuities with the hope
that interest rates go up. Okay, the other way to earn interest and delay taxes
is with an indexed annuity, fixed indexed annuity. Back in the day,
they were called equity indexed annuities.
But now they're called fixed
index annuities. They were designed in 1995 to compete
with CD returns which is exactly what they do. They are not securities. They are
life insurance products that are issued at the state
level. So, people that want to push them as
market return products, they're really not. They're cd products. Now, some years
can be a little bit better than others. But the blended return since 1995
has been in that cd level. The good news about index annuities is
that when the interest is locked in, in other words, whatever gain on that
call option that you've done… And by the way,
I've done a series on indexed annuities you might want to check out that
explains caps and spreads and participation rates
and all that stuff that's part of the series I did on indexed annuities.
So,
whatever that locks in at, I mean, it never goes below that. So, you just stair
step up hopefully that that interest locks in. And if the
markets go in the toilet, you don't lose a penny. Now, the good news
when used like multi-year guarantee annuities and indexed annuities,
when using a non-IRA account, then that growth
grows tax-deferred and compounds. Which is a good thing.
Because there's a lot of you out there that don't want any more taxes. You're
at a high tax bracket where you just want to protect the principal
and just have interest hit and defer the taxes down the road. In other
words hockey analogy, is kick the puck down the ice a
little bit. Eventually when you pull it out, you will have to pay taxes on it but
with these 2 products –indexed annuities and multi-year
guarantee annuities. You can earn interest
and delay taxes. Alright, let's stay on the subject on indexed annuities a
little bit because in addition, if you just bought an
indexed annuity and said, "Okay, Stan.
I don't need income or i don't need any
i don't need any whistles or barrels. I just want
that index call option return, whatever that is to be credited to the account. I
don't want to pay taxes on it. I want to delay it but I want that interest credit."
Fine. There's no annual fees. It's very… You know, we'll shop all carriers for the
best cap spreads, participation rates, strategies involved. We need to talk
about that go to theannuityman.com and sign up there. Or if you
want to discuss it, you can just hit the comments down here
on my YouTube channel. I do check that and we will answer you as well.
But I wanted to talk to you about indexed annuities with
income writers. Now, I've written a book on income riders that I'll send with the
other ones. The fixed indexed annuity one and the
multi-year guarantee annuity book as well.
But at the time of application, you can attach what's called an income rider to
a fixed annuity.
What an income rider is is an attached benefit that grows
separately. So, if you draw a line down the middle of a blank sheet of paper,
index option stuff here income rider calculation is here. And you can use this
side to calculate a future income payment. Now, the good news is
typically that has an interest rate attachment that it grows
by as well and it's not true interest because you
can only use this to calculate your first income payment.
So, it's kind of a phantom account monopoly money.
But it does have a growth
percentage with most of them that it grows by. But it grows tax
deferred. So, again, if you're looking for interest to
grow and to delay taxes, you can have a fixed indexed annuity
standalone without the income rider. Or you can have a fixed index annuity
with an income rider. Either way, both sides of that calculation…
Remember
i did that the accumulation value and then the income rider.
Both sides of that calculation and there are separate calculations
are going to grow tax-deferred. Which is a good thing.
So, once again, you need to talk with me and go to theannuityman.com. Set of time
and let's talk about what you're trying to achieve.
It really comes down to 2 questions you need to ask and answer. Number 1,
what do you want the money to contractually do and number 2
when do you want those contractual guarantees to start?
In this case, "Hey, Stan. I want interest. I want to delay taxes."
Then we need to go shop MYGAs, we need to go shop index annuities for the best
contractual guarantees for your specific situation. Hey, I've done a
series of these retirement tips video. I encourage you to go check them all out.
You can go to the playlist right below me and you can see the whole series and
look at them one by one to see which one applies to
you.
Remember this with multi-year guarantee annuities and fixed
indexed annuities. You can use our proprietary calculators at theannuityman.com to run the quotes yourself. We have a
live feed of the best fixed rates for your specific state. You just filter by
your state of residence and the duration that you're looking at.
24/7, 365 you can shop that at your leisure. Let me know if you're interested
we can coordinate the paperwork. And with index annuities, a little bit
more of a complex product. But with both products, we need to talk one-on-one me
and you. You and The Annuity Man, America's Annuity Agent.
The number 1 agent in the country. I will shoot it straight if you haven't
caught that from me by now. It's going to be a
brutally factual conversation. I'm going to put your interest first
from a fiduciary standpoint. That's the way it should be with all
conversations and i will tell you if annuity does not fit.
I promise to do that.
Hit the subscribe button. I'll see you
on the next Stan The Annuity Man video. you.
5 Retirement Tricks You Were Never Taught
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
these five ideas took me 20 years to find out as a financial advisor and also make sure to view them all since I don'' t recognize which ones are going to reverberate with you I can show to you number 5 is my personal favored but leave in the comments what your favorite is fine let'' s go with a stroll uh and the very first suggestion the initial suggestion uh that once again they didn'' t instruct us in college they didn'' t instruct us in secondary school and however life didn'' t educate me a lot of us these points we had to discover them on our own uh which is this is not our moms and dads retired life right we are healthier than our parents were uh travel is a fair bit more economical and easier today than it'' s ever been I ' ve been lucky in the last 3 or four years to be able to function from another location from 30 various nations and I can inform you my smart device had has actually made that experience so much simpler finding an area to stay obtaining from the bus or the trains terminal or the airport terminal to where I'' m remaining finding the the place that I desire to you recognize the cafe I wish to go to or the gallery or the basilica or you recognize whatever the visitor destination is it'' s a whole lot less complicated with the smartphone so uh this is not our parents retired life this is not uh resting around viewing tv and fishing I'' m not stating that every one of our moms and dads did that but the entire globe is open to us specifically publish covid ideal um is is travel is easier it'' s much less costly than ever before so product leading is this is not our moms and dads retired life if we considered our parents and claimed ah I'' m not exactly sure I ' m that excited about retirement I assume the sort of retired life we can have is is is is truly amazing and really interesting we have to do our homework to be prepared for it uh both financially along with mentally you recognize what does retirement resemble what are we passionate concerning what are we delighted concerning how are we going to invest the moment however if we do that research I think we have an actually fun-filled retired life to eagerly anticipate all right and second is is exactly what I simply shared which is you recognize we have to do our research and I I think we have regarding a hundred hours worth of reflective job that if we do that I believe we can uh really feel like we'' re well ready uh beyond the monetary facets for our return atmosphere and also then on top of that naturally the financial aspects are vital I would urge you to use a cost just monetary expert have a professional strategy prepared for you it doesn'' t have to be insane costly but you wear'' t intend to think that you ' re all right you'need to know that you ' re alright you ' re we economic advisors can not give you assurance however we can offer a lot of clarity simply Google cost only monetary expert near you I maintain claiming cost only monetary expert due to the fact that they have a fiduciary commitment to place your rate of interest ahead of their own 100 of the time as well as that'' s actually essential yet returning to second doing our homework it'' s not simply the finances of it you recognize it'' s what ' s your purpose going to be a great book to assist you consider your purpose is a publication called stamina stamina to strength by Arthur Brooks what are you going to do with your time you'' re mosting likely to have a whole lot of time in retired life and what are things that are really vital for you as well as simply check out the collection of videos that that I carry YouTube I'' ve I ' ve covered this topic uh several times and various other YouTubers have also so think concerning exactly how you'' re mosting likely to invest your time I can show to you high degree after doing a whole lot of reflective work as well as having actually guided other individuals via it right I indicate you simply can'' t aid yet also think concerning you know how does every one of this apply to my scenario the four areas that I'' m very fired up regarding during retired life is number one having time for connections I have a mom who'' s 87 years of ages lives a pair thousand miles away I was privileged adequate to be able to invest two weeks being a type of her key caretaker were my sis uh went on vacation finally it had been the pandemic because before the pandemic that she'' d been able to take a vacation so connections and also buying partnerships the time for that I'' m looking for or 2 as well as all for me every one of these are burglarized concerning a four so there'' s four of these the 2nd one uh is taking taking care of my wellness doing what I can to remain healthy because uh retired life is mosting likely to be a heck of a whole lot more fun if I'' m healthy so uh a 4th of my time on wellness and after that I'' m a long-lasting student I like learning so understanding is is continuing to discover proceeding to enroll uh proceeding to simply find out brand-new points I'' ve done numerous points I uh when I was much younger I was uh taking flying lessons and I'' ve actually obtained the score that you require to work for the airlines I instructed myself just how to code this YouTube thing so remaining to learn is essential to me and after that the fourth area is giving back as well as as well as for me that that suggests points like this YouTube channel right uh teaching as well as mentoring and mentoring and sharing the expertise that I have uh with people that I believe it can aid so those are the four areas for me that'' s what ' s right for me it'doesn ' t'mean that it ' s right for you um let ' s see and after that the the last one regarding preparing your research is you understand if you reside in the USA we need to think of what are we mosting likely to do for healthcare insurance up until we'' re 65 as well as you understand there are people that can aid you keeping that the only financial advisors can assist you with that said there'' s Professionals that focus on this area however there are remedies to that so however do your research before you make the leap you wish to see to it you'' ve got that base covered all right number three uh the number 3 concept um here that no one educated you regarding retirement uh as well as I suggested to it in the last thing which is wellness is more crucial than riches you understand actually actually do what you can we you know we can'' t prevent cancer cells we you understand we can do what we can we can eat right we can exercise we can do all of those things uh and as well as hopefully that will certainly aid maintain you healthy and balanced longer as well as with any luck fend off any of these terrifying illness that none of us desire alright so simply do what you can to remain healthy number number four is um you you don'' t need to fully retire right if you have a lot of stress at job um if if you'' re prepared for a change of pace if you'' re close financially and also you wish to make the jump you understand there there are part-time work out there there are side hustles out there that you can do side businesses that you can start uh so if you'' re close to retirement if you ' re like boy I ' d really like to retire earlier as opposed to later it doesn ' t have to be uh All or Absolutely nothing there'' s other means to make earnings and also the concern is you understand is is 50 totally free far better than no percent free on being retired you understand could you take a seasonal work as well as perhaps just work 3 months out of the year I stated in various other videos when my youngsters were more youthful I made use of to instruct a handful of weekends winter sports uh at a regional ski hotel so my whole family would obtain free ski tickets but there are these seasonal jobs and also is it much better to be 50 complimentary 80 percent free as well as work seasonally or function part-time work 20 hours a week so as to get health treatment advantages points like that so as well as there'' s no right or wrong solution it'' s just you know depends on um uh what'' s right for you fine number 5 as well as I'' ve obtained a Reward one below so put on'' t wear ' t uh disappear after number 5 uh before we obtain to number five if'you ' re enjoying this video please offer me a like uh the thumbs up it does assist the YouTube algorithm discover other individuals that ideally my channel can assist number 5 um is it'' s okay to have a back-up strategy you recognize pertaining to um number four you know maybe you think you have sufficient cash to retire or you intend to save uh a buffer and you'' re gon na work an additional two or 3 years to get this buffer uh and also you recognize what having a little money having this pillow makes a lot of feeling but you obtained to take care due to the fact that one year can conveniently develop into three or 4 years um so possibly you'' re in rather of having that buffer you have a backup plan where you'' re gon na have a part-time work you'' re mosting likely to have a you ' re mosting likely to develop a side rush if you need to in order to give yourself that barrier if if you hop on the unfortunate side of series of return risk which is when the market is adverse for very first couple years of of retirement or in the very first couple of years of retired life because that'' s when your sum of cash is the greatest uh it'' s when you ' re most prone to unfavorable returns and also as well as none people understand if if we'' re going to get hit with that or otherwise however perhaps the barrier possibly the insurance coverage if you will certainly versus that is a readiness to function part-time or to produce a side hustle business if you do get struck by that all right and afterwards the last thing I intend to leave you with and also it'' s it ' s a stating in my industry um you for lots of people they put on'' t require more money they just require a plan they need a tactical plan what are the important things that are vital to you what are those things mosting likely to cost and afterwards just how do you accomplish those and also you know I truly motivate you to connect to a cost only monetary advisor as well as state Below'' s my scenario can you aid me assume via am I am I shut to being able to retire are there things that I'' m not considering that might enable me to retire sooner as opposed to later on and to find a cost only monetary advisor just Google one I maintain saying charge only economic advisor because they have a fiduciary obligation to you as well as that'' s essential so I hope this video clip has actually been useful if you'' ve appreciated this one I understand you'' re going to enjoy this video clip up right here that speak about the ordinary earnings for senior citizens in America and also this video down below that talks regarding five factors to retire as quickly as you can many thanks for seeing bye bye
Read MorePlanning Retirement the RIGHT Way (with Veronica McCain)
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
so you'll pick me up tonightÂ
at 7 45. yo well no I got a  few things to take care of first butÂ
why don't we make a quarter to eight I'm 45. live from Joe's mom's basement it'sÂ
the stacking Benjamin show [Music]Â Â I'm Joe's mom's neighbor Doug and good newsÂ
today is all about getting your way which is  my favorite here to help us work out our goalsÂ
and find happiness we welcome retirement coach  Veronica McCain for our Tick Tock minute we'llÂ
discuss tips on getting your vocab right to  succeed in the corporate world in our headlinesÂ
why is it that instead of money at the end of the  month the month seems to go too many days forÂ
our wallet we'll share an explanation from one  popular publication plus we'll throw out the HavenÂ
Lifeline to Lucky stacking Benjamin's listener Jim  who wants to know what percentage to put into hisÂ
Roth IRA and then I'll share some heartbreaking  trivia and now two guys who like to color wayÂ
Outside the Lines the Philistines it's Joe and oh [Music] and a happy Monday to you stackers nice openÂ
duck you know given your history I think that  was fantastic we got a great show today fantasticÂ
show Veronica McCain is here I can't let that go  what do you mean given my history I am FlawlessÂ
day after day show after show let what go I don't  know what we're talking about Veronica givingÂ
my history great open given my history Veronica  McCain is here today she is a retirement coachÂ
and uh oh gee we don't get enough time to talk  about just retirement so I'm I'm super happy weÂ
get to do that sweet I'm gonna retire after this  Marathon recording episodes podcast for theÂ
last freaking week and a half so you can go  on vacation so like yeah by the time people hearÂ
this I've had a wonderful vacation in Spain which  meant that uh that yeah we've been talking toÂ
each other a fair amount lately however we got  a fantastic show today not only Veronica becameÂ
we got a fantastic Tick Tock minute super happy  headline today comes to us from the Wall StreetÂ
Journal the oh gee sorry the Wall Street Journal  The Wall Street Journal are they like the OhioÂ
state of newspapers forgot to put the emphasis in  the right place and they get angry those BuckeyesÂ
no it's the Ohio State I thought it was just oh no  no it's the this is from the personal financeÂ
section it's written by our friend Veronica  dagger a Veronica writes why it's now easier toÂ
underestimate your expenses and overspend let's  dive in Veronica writes many people have a gapÂ
between what they think they spend and what they  actually spend this gaps wide recently is theÂ
financial and psychological effects of higher  prices further strain people's budgets ElevateÂ
inflation is rippled through Americans wallets  for more than a year now some have cut back WhileÂ
others have increased their spending to keep up  credit card balances were staying relatively flatÂ
for a while but have jumped higher recently oh  gee you and I let's take it from here I thinkÂ
that this is a year where it's crucial to have  your finger on the pulse of what your expenses areÂ
you know you hear people joke about eggs you hear  people joke about the grocery store of course forÂ
a while there you saw the gas pump that seems to  have leveled off at least where you and I live butÂ
I think if you don't have your finger on the pulse  you're just gonna have less money at the end ofÂ
every month well the availability of credit cards  and accumulating that Consumer Debt really makesÂ
it easy to continue to live the life that you want  to live even if the cost of living has increasedÂ
a little bit because you don't feel the pain of  that right away you know it's like that kind ofÂ
slow death by a thousand paper cuts type of thing  it's like you have a little bit of a balance thatÂ
carries over then you have a little bit more of a  balance that carries over and a little bit more ofÂ
a balance that carries over and so that's a really  good really good signal I think is if you if youÂ
go month to month and you're not paying off your  Visa bill every single month or if you had beenÂ
and now you're not yeah that's a good trigger to  go like whoa what changed here that'll snowballÂ
pretty quickly listen to this statistic just to  tell you how many people are not paying off theirÂ
credit cards Veronica writes in the fourth quarter  of 2022 the average household's credit cardÂ
balance was nine thousand nine hundred ninety  dollars up nine percent from a year earlier nineÂ
percent higher it's a huge big number according  to wallet Hub customer Finance website meanwhileÂ
the average credit card interest rate of course  rose with spread right yeah uh to record high ofÂ
about 20 percent last week according to bank rate  those are some there's some big downsides forÂ
not tracking your expenses yeah thinking about  the math on that real quick it's like okay tenÂ
thousand dollars at twenty percent you're spending  150 100 you know 200 a month of Interest that'sÂ
not going to pay that off if you think okay well  I make 80 grand after taxes bringing home youÂ
know 60 after taxes and health insurance and  401ks and all that sort of stuff that's a solidÂ
chunk of your annual budget that's just going to  interest payments that doesn't really accomplishÂ
anything for you so if you're one of those people  that that balance is increased on I think it'sÂ
really important to figure out how to tighten  I think one way if you have an accountabilityÂ
partner a spouse a friend that you're working with  I really think this can be way easier than peopleÂ
think that it is Cheryl and I just have a weekly  meeting we meet for 20 minutes it's over wine orÂ
over pancakes depending on what time of day it is  it's not complicated we just look through it OGÂ
and I think it can be that simple it doesn't have  to be you know you're using what you know I loveÂ
the tiller money app I think it's fantastic how it  takes a spreadsheet and downloads everything everyÂ
day and you've got whatever numbers you want you  can plug those into your spreadsheet and get it soÂ
you can slice and dice however you want I like the  cube app as well we of course have lots of fansÂ
who use YNAB as a great budgeting tool but it's  not really it doesn't even have to be that hardÂ
it just has to be having just a finger on on the  pulse like where where's our money actually goingÂ
you know it might have been you who mentioned it  years ago oh gee it could have been Paula pant butÂ
but a lot of people feel handcuffed when they feel  like the advice is look at your budget everyÂ
month and decide all the details that you're  spending on and I think that's one of the thingsÂ
that intimidates people or just is a huge Downer  against budgets I don't think you have to do itÂ
forever and ever I honestly think you set up a  budget we use whatever template you want to useÂ
make your own or use some of the ones that Joe  mentioned and then you check in on it for let'sÂ
say the first six months or eight months however  long it takes you to establish habits for just theÂ
way you live just the normal everyday stuff and  then once you've sort of curtailed yourself fromÂ
essentially taking out a loan to buy that pair of  pants or that whatever that thing is you think youÂ
need uh I don't think you need to check in on that  budget that often I think it's I mean honestlyÂ
I'm checking in on mine every maybe six months  to a year I think that I think the big Point hereÂ
Doug with inflation having gone up as quick as it  did the point is to have these early warning tripÂ
wires that if you're not going to check it that's  fine but you got to have a tripwire that alertsÂ
you then that stuff is real and it's different  than it was three months ago because to OG's pointÂ
if you don't catch it early this gets Beyond you  I mean but Wells Fargo's PR team finally gettingÂ
getting ahead of the story here and got themselves  in this piece listen to this I like this moneyÂ
grows much faster than most people expect because  interest is not interest says Michael learsh headÂ
of Wells Fargo and companies advice and planning  center it's a great quote a similar conceptÂ
though applies to inflation prices rise and if  inflation remains high prices continue to grow onÂ
top of already inflated prices leaving people off  guard quote people get constantly surprised thatÂ
their money isn't going as far as they thought it  would and in fact the cost of eating out and goingÂ
for drinks continues to take Dina lion aback even  though the 36 year old married mother of one'sÂ
dining out and ordering in far less than she did  a year ago some prices still give her stickerÂ
shot she says the difference between cooking at  home about ten dollars for nice pasta and quickÂ
sauce from canned tomatoes versus Italian takeout  for now 50 bucks is astronomical said Miss lineÂ
who lives in Brooklyn I think those trip wires  are are what you if you're not going to set it upÂ
Doug well let me ask you this I mean given your  history with money how exactly do you set up yourÂ
own tripwires so we focused all of our spending  on One credit card I have a rough idea everyÂ
month of what that that number should look like  at the end of the month and if it's significantlyÂ
higher I kind of raise an eyebrow and then I start  scrolling through transactions and realize okayÂ
those are all legit time to cut it back that's my  trip but you know then where to cut well thenÂ
I start to it's usually uh the same thing for  probably 90 percent of Americans Amazon but uhÂ
Amazon could be anything though I know that's such  a brilliant way for them to disguise what you'reÂ
buying that it just says Amazon yeah because  you're like there's no way I spent forty oneÂ
thousand dollars on Amazon last year yeah you did  like well what did I buy wouldn't you like to knowÂ
right I bought Fruit Loops and a backhoe exactly but yeah then I just dig in a little bit if ifÂ
the number is significantly higher usually when  that has happened it's because of a couple ofÂ
big purchases and I know right where it was and  um I know that that big purchase isn't goingÂ
to happen again the next month it's you that  for me that's usually what it is it's not theÂ
trickle effect of Amazon it's usually some big  some big Bill I had but uh yeah that's that's myÂ
tripwire yeah I just know that given your history  that we really need to make sure that um peopleÂ
hear the story you are harshing on me today what  is happening what am I doing I don't give upÂ
your history and what then you you yeah yeah  harsh on my open what is going on I don't I'm justÂ
saying that given your history there we go again IÂ Â think we need we need to make sure that peopleÂ
hear the story like it's a it's a great tale  hey uh speaking of great Tales time for a tickÂ
tock minute this is the part of the show where  we either have some Brilliance from the people atÂ
Tick Tock or we have hashtag brilliance from those  very same people uh Doug which one do you thinkÂ
we got today this one's legit it's solid yeah well  more solid than my backdrop which is just aboutÂ
fell over I love it how people are about to see  they're about to see all the canned goods hereÂ
in the basement when your professional backdrop  goes bye-bye I think you're correct doug becauseÂ
oh gee today what we're going to talk about is  how to succeed in corporate life how to how toÂ
figure out the right things to say let's listen  one of the most important skills you'll needÂ
to learn if you want to be successful in the  corporate world is how to speak like an absoluteÂ
[ __ ] week and a great way to do this is just  to totally ignore the basic principles ofÂ
English grammar so first take a random noun  and then change it into a verb so a word likeÂ
idea becomes ideate then take that new verb and  turn it back into a noun so id8 becomes ideationÂ
then take that now and change it back into a verb  so ideation becomes ideation Inc finally take theÂ
new verb and change it into a meaningless seven  word cluster an all hands Blue Sky ideationingÂ
session then sit back and wait to be promoted right that immediately it's prettyÂ
funny after your blue sky ideation  session you're you're good that's prettyÂ
funny brilliant Joe tell them some of  the we've got some of that same kind ofÂ
corporate phraseology here that that just  develops organically just happens we haveÂ
we've come up with our own lexicon here uh  OG we need to talk to you over by the canÂ
peaches we say that you're getting canned  first time Doug got canned he thought it was a bigÂ
deal oh God I was remember that yeah I was I I had  Joy I mean uh tears in my eyes and when it's niceÂ
outside so you know we want to leave the basement  we meet up by the clothesline which we call DougÂ
getting hung out to dry there it is we didn't need  the bump this is serious work OG we're all tryingÂ
to get promoted here hey coming up is a woman that  I don't think we need to promote a lot becauseÂ
when it comes to retirement planning people  take it way too cavalierly oh gee you know thisÂ
better than most people spend more time planning  their family vacations than they do planning theirÂ
retirement which shows why so many people are not  successful at retirement planning well VeronicaÂ
McCain worked a full career and then realized that  as a second career which we may talk about as wellÂ
she was going to become a certified professional  retirement coach and a charter retirementÂ
planning counselor after 31 years of Public  Service work decided you know what time to do thatÂ
other thing that I've really really wanted to do  so she founded Savvy retirement coach with theÂ
mission to provide holistic retirement planning  Concepts focused on self health and wealth we'reÂ
going to talk to Veronica here in a second about  doing a better job planning retirement but Doug toÂ
get there I think you've got some history well IÂ Â think of it as trivia you call it historyÂ
tomato well given your history of doing the  trivia I think we should just have the trivia nowÂ
there's some massive punchline coming I can tell  I don't know what it is but okay fine here'sÂ
the trivia Joe hey there's stackers on Joe's  mom's neighbor Duggan did you know that on thisÂ
day in 1956 Heartbreak Hotel by Elvis Presley  became a number one hit the Smash Hit was writtenÂ
by the Queen Mother of Nashville Mae Boren Axton  and Tommy Durden Axton played a recording ofÂ
Heartbreak Hotel for Elvis at a disc jockey  convention in Nashville and the rest is historyÂ
so since we're on the topic of hotels I got some  hopefully not heartbreaking Hotel trivia forÂ
you my question is if you're evaluating hotels  as an investor what is the difference betweenÂ
these statistics average daily rate ADR versus  average published rate or APR I'll be back rightÂ
after I asked Joe's mom to celebrate Elvis by  making me a peanut butter and banana sandwichÂ
while I tee up Heartbreak Hotel on my Walkman Burning Love Joe's mom's neighbor Doug and we areÂ
commemorating the anniversary of Elvis Presley's  Heartbreak Hotel becoming a number one hit onÂ
this day in 1956 with some Hotel related trivia  so my question was if you're evaluating hotels asÂ
an investor what is the difference between these  statistics average daily rate versus averageÂ
published rate in maybe our most thrilling  trivia question yet try to stay awake non-hotelÂ
investors the average published rate is believe  it or not this is going to be amazing are youÂ
ready I'm just settle down because I know the  excitement is building it's the amount a hotelÂ
asks for rooms well the average daily rate are  you ready for this I know you've been waitingÂ
by your device all day just trying to figure  out what this definition is that is the amountÂ
they're actually getting paid for the rooms  if you're a hotel investor this is the oppositeÂ
of boring because if those numbers are close  together it means the hotel is in demand andÂ
if they're far apart you know maybe not so much  maybe I should suggest our writing team retiresÂ
So speaking of retirement Let's help you get there  permanently it's time to learn how to createÂ
your retirement your way with Veronica McCain and I'm super happy she's here at the card tableÂ
with us Veronica McCain joins us how are you that you're here because we're about to talk ifÂ
this goes according to plan we're about to talk  about all the things that you and I think peopleÂ
should talk about during retirement but often kind  of gloss over because they're you know just don'tÂ
get me wrong we're gonna talk about the money too  but it's about more than money but as a way toÂ
get there Veronica I've always believed that  if you want advice it's helpful to get it fromÂ
somebody who's kind of walked that path right  when I was a financial planner I had been oneÂ
in a long time but when I was the fact that IÂ Â worked with 200 families and I'd seen retirementÂ
over and over and over again should give people a  little bit of comfort that yes you want to do thisÂ
once I've done it a bajillion times but but I had  not at that point ever retired you have actuallyÂ
retired tell me about that do you remember the  countdown to your retirement oh yeah definitelyÂ
I mean I remember when I was working you did you  know you do the usual countdown on your calendarÂ
kind of exiting out the days until it actually  hits and then that when that day comes I thinkÂ
you get a overwhelming emotions because then IÂ Â realized you know I'm leaving my work and my workÂ
was not just work for me I actually had you know  work family what did you do by the way I workedÂ
for the federal government so I was a associate  director over several various departments withinÂ
an agency a very small agency about 300 people but  um because you're a small agency you kind ofÂ
have to sometimes do a lot so oversaw a lot of  different departments yeah so so you have thisÂ
flood of emotions where the emotions about loss  were they about excitement I don't know is it nowÂ
all the above is it purpose yeah I kind of had an  idea sort of what I wanted to do so I kind of knewÂ
what path I was going to take once every time IÂ Â know it's going to go into some type of coachingÂ
field didn't know exactly what way I was going to  go with it at first I thought maybe more in theÂ
Executive coaching area but then as I thought  about that more it kind of gave me flashbacks forÂ
work so then I decided to get into more of the  the retirement because people were asking me soÂ
many questions about you know what do you do and  what you retire how do you feel your days and thatÂ
kind of thing so um you know as I was approaching  looking into the coaching area I did look atÂ
retirement coaching and I said oh this will be  an interesting field to pursue because I like toÂ
motivate people to have people get excited about  their goals and what they want to do in life andÂ
I like the kind of the financial side as well so  um you know that's why I decided to kind of leanÂ
more toward the retirement coaching but getting  back to when that final day came yeah I thinkÂ
it was when I had the actual retirement you know  sometimes that work to give you a retirement uhÂ
party and you see everybody and they're like uh  say something say something and then when I got upÂ
to say something all of a sudden I started feeling  like I was gonna cry yeah I was looking out atÂ
everybody and I was like wow I'm you know this  is this is really the end um even though I hadÂ
something you know like I said to look forward  to going through I didn't expect that emotion toÂ
come over me like that but it did and I think a  lot of people experienced that when the finalÂ
day comes of their retirement there is like a  I don't know I mean it's just morbid but there isÂ
like a death I mean you're it is it is your last  cake right right you've been to see other people'sÂ
cake but all of a sudden you realize this is your  last slice yeah it is that that's exactly whatÂ
it is it's kind of you know that you're gonna  try to keep in contact with the people thatÂ
you work with and try to have some kind of  relationship but it does change it really doesÂ
because you just you know everything usually that  you talk about with people at work is work relatedÂ
stuff and over time when you retire that kind of  goes by the wayside with you so do you feel likeÂ
we're too Cavalier about that about that process  about the uh you know the fact that we're goingÂ
to have these emotions we just think oh I'll deal  with it when I get there yeah I think a lot ofÂ
people are just so caught up and I'm going to be  retired I'm going to be tired I can do whatever IÂ
want it's so exciting or whatever so yeah I think  you don't really feel like that you're going toÂ
have those type of emotions I think you just feel  like you're going to go to this next chapterÂ
in your life and it's going to be oh this this  burst of excitement and it is I'm not saying thatÂ
you're not going to have it but I do think there's  also a period of of where you kind of adjust uhÂ
to you know what you've left behind in your job  and your identity and all that with that andÂ
then going forward pursuing what what you had  to look forward to in retirement so it's kindÂ
of a mixed bag those first couple of years you  tell your own story but you also tell storiesÂ
of a few other people in the workbook one is  a woman named Susan Susan seems a little lostÂ
can you tell our stackers about Susan Susan is  the one who the days and the walls were kind ofÂ
closing in yes yeah yeah she was the one person  in the book that I talk about and the peopleÂ
that I talk about the book are actual people  that I coach I just use different names andÂ
scenarios names change to protect the guilty yeah she was kind of diverse and this is a thisÂ
is a lot like when you're working you're kind of  looking forward to those days that you have offÂ
where you can kind of do some things that you  want to do but then when you retire and it's everyÂ
day it gets a little daunting if you really don't  have an idea of what you're going to be doing toÂ
for your days your day-to-day life I think is the  hardest thing that most people struggle with whenÂ
they retire they have some huge aspirations maybe  of traveling or doing that but once they'reÂ
sitting in their house house on a day-to-day  basis and in the you know the walls of you knowÂ
has kind of quiet and not a lot going on you  don't have that routine of going to work anymoreÂ
it's kind of like what do I do on a day-to-day  kind of thing and that's kind of challenging butÂ
what Veronica separates your workbook from a lot  of the retirement discussions I've seen is thatÂ
you take this day to day and challenge all of us  to think really bigger about our life like I gotÂ
this feeling even in the beginning Pages as you're  telling the story that well let me just quoteÂ
you you wrote a big void needs to be filled in  retirement but it should not be filled just withÂ
things to keep you busy like this is not just a  March to the Grave this is a whole differentÂ
piece of your life and it shouldn't just be  about rearranging the salt and pepper shaker everyÂ
day or you know figuring out that the dog needs  to go for a walk like you challenge us to thinkÂ
a lot bigger about this period exactly it is an  exciting time for you to think bigger about yourÂ
life because it's probably the first time in your  life that you're actually able to do what you wantÂ
to do on your own schedule and hopefully have the  finances to do that so I think it's more than justÂ
trying to fill your days with just the stuff to do  and I think a lot of times when you first retireÂ
if you don't really have an idea of what path  you're going to go down once you retire that'sÂ
what you start doing you start trying to just  okay let me do this do this and do that and you'reÂ
not feeling you're still not feeling fulfilled so  I'm hoping in the workbook I give you exercisesÂ
to help you because people struggle with like  what does this mean purpose meaning fulfillmentÂ
or whatever yeah those are I think sometimes big  words that we use but I hopefully going throughÂ
some of the exercises in the book you will be able  to figure that out by going through the exercisesÂ
and then trying to say okay well what do I really  want to look for as far as my next chapter in myÂ
life of what I want to pursue and what I want to  do more than just these little small things thatÂ
are keeping you busy I get uh coaching from a  group called strategic coach long time stackersÂ
have heard me talk about them before but we have  we have a workbook similar to yours with these bigÂ
questions about leadership and about coaching but  you do the same thing here with retirement andÂ
this is not guys this is not a long workbook but  if you're doing this right it may take you monthsÂ
to fill this stuff out because I could see myself  Veronica peeling off maybe two pages and reallyÂ
because the thought that goes into each page of  this is really the important part well let me giveÂ
everybody some of the tips from the book that you  have early on because you have workbook piecesÂ
and then you have some tips here's some tips  early on for when you first get to retirement toÂ
kind of send you on this path while you're filling  out the workbook schedule activities you enjoyedÂ
during when you took time off from work journal  and reflect on your expectations of yourself asÂ
a retired person I love that word Expectations by  the way read books and articles listen to podcastsÂ
and a variety of topics to discover what most  interests you now and volunteer for differentÂ
organizations to discover how you most enjoy  helping people and helping help being out it feelsÂ
to me Veronica like you're challenging people  also to don't be afraid to explore like go go tryÂ
stuff expecting that it might not be a fit exactly  that's exactly right Joe I want people to not beÂ
kind of Trapped into thinking they have to have  everything planned out to just go out and just doÂ
things that they find intriguing or they interest  them and then from there they can determine whatÂ
they want to continue to pursue what they don't  want to continue to pursue but don't don't limitÂ
yourself on what you what you think you should be  doing or how you should be doing it this is a timeÂ
for you to be adventurous and explore at different  Avenues and things that interest you and a lot ofÂ
times that's kind of a hard thing to do for people  because they've lived this kind of structured lifeÂ
up to this point with work and all that and to try  to say oh just go out here and do whatever and tryÂ
to figure it out it can be a little intimidating  like whatever what yeah yeah so I'm hoping thatÂ
the exercise in the book gives you clue you know  kind of cute used to okay these are some thingsÂ
volunteering doing some other things that you  know she thought about what maybe when you wereÂ
younger and didn't pursue kind of go back to those  times of those thoughts and and try to figure outÂ
if there's um things that you want to pursue now  so yeah it's it it's funny because I I reallyÂ
went through this crisis where I felt like not  just there's a lot of stuff not interest me butÂ
but I'm like okay I want to get involved in my  community I want to get involved in organizationÂ
but but which ones I don't this could sound very  horrible Veronica but I just didn't I just didn'tÂ
care about any of them and then I realized that it  wasn't about that I need to just go get involvedÂ
and when I found out and ultimately at first it  was the Arthritis Foundation I got involvedÂ
with I found out about juvenile arthritis IÂ Â found out about all of these things happening inÂ
the arthritis Community I got involved in walking  trails around town and I realized how walkingÂ
trails uh not only your Healthy Living but  beautify a city but they're also very inexpensiveÂ
ways for cities to raise property values like IÂ Â learned it by exploring exactly what you're sayingÂ
to do in the book exactly that sounds so great Joe  because that's exactly what I'm hoping peopleÂ
would do once they start retiring just like you  said you did you just started going out and doingÂ
things and as you started doing those things you  learned so much and it got your interest even moreÂ
into whatever activities you were pursuing the one  thing that people have to realize when they retireÂ
you have to be just to be intentional you have to  go out and do it it's not going to come to you andÂ
a lot of times I think you know when I'm working  uh coaching with clients they're like well I don'tÂ
know I don't know I'm like well you got to go out  and try you can't it's not going to come to youÂ
you've got to go out there and pursue it and once  you do and when you know you will see oh okay thisÂ
doesn't just me or this doesn't interest me but  you've got to go out there and do it can we talkÂ
about that what you just said about you kind of  kicking people in the butt and and kicking themÂ
out the door to go you know like my mom used to  say don't come back inside until that light turnsÂ
on you know we we back when kids went outside  side maybe I'm dating myself there but you endÂ
almost every chapter of this workbook with who  are going to be your accountability Partners itÂ
seems to me like accountability partners are a  big piece of this tell me about how you how do youÂ
find these people Veronica maybe just before you  retire yeah and sometimes say you know who theyÂ
can be they can be trusted friends and and people  that you know I think sometimes there are peopleÂ
that are asking you questions about yourself and  are intrigued about you as an individual but youÂ
do have to find sometimes an accountability person  because in retirement there's nothing pushingÂ
you to do anything and if you don't sometimes  have somebody that you can hold accountable andÂ
if you can't find someone within your your network  I would advise you to look for a coach becauseÂ
that's because what they can be as well pursue  look um for a retirement coach or a life coachÂ
or or someone in that field because they can be  your accountability partner but if you're findingÂ
that you're struggling trying to get stuff done  and you're not really getting out there or you'reÂ
bored and you're restless and you want to not get  some pickup and you're like you definitely needÂ
to look into getting somebody to be accountable  and help you because I even have coaches that IÂ
work with and I'm a coach yeah yeah me so it's  just something that just like I said it helpsÂ
you keep you accountable to someone to keep  you motivated to do things I think that kind ofÂ
like you Veronica I just get this feeling that uh  with my coach if I say it out loud to Mary LouÂ
it means I gotta go do it like that if somebody  tells you or if you tell your coach then youÂ
then you have to go do it I want to stick with  this theme of uh friends and family a little bitÂ
because those might be some of the people you're  bouncing stuff off of but you also say if you'reÂ
having trouble finding your sense of purpose that  friends and family might be a good Outlet yeahÂ
and that's what I found for me that's why I said IÂ Â want you know I knew I wanted to go into coachingÂ
I wasn't really sure which way I wanted to go and  the reason why I decided to be a retirement coachÂ
is because friends and stuff are saying you're  good at coaching and talking about this retirementÂ
stuff or whatever and I'm not like you should  do something with that and that's why I pursueÂ
becoming a retirement coach but I think oftentimes  friends and family see things within you that youÂ
don't even see yourself they recognize talents and  things that you have that you're like oh okayÂ
you're right I do enjoy that you kind of brush  it off and maybe not pay attention to where theyÂ
might be and I think when you're listening to your  friends and family you have a tendency because youÂ
trust them to listen to their guidance a little  bit maybe more than somebody else that doesn'tÂ
really know you so I say I always lean into  your friends and families to help you if you'reÂ
trying to figure out maybe you know some things  you might want to do they might say well you'reÂ
good at organizing or you're good at accounting  or you're good at this or whatever and they mightÂ
give you some cues to help you figure out where  that next chapter is going to be in your life inÂ
retirement so definitely look for them for that  I like the fact that you go through a lot ofÂ
this first about about purpose and value and  meaning before you get to the money in chapterÂ
two because your chapter two then really is  structured around okay now that you know that weÂ
can focus on spending money where it's important  and saving money where it's not and hopefully IÂ
have an idea there you start off with some good  tips you talk about traveling a lot of peopleÂ
in retirement want to travel uh you say to be  a conscientious traveler what is what does thatÂ
mean yeah everybody always says when they retire  they want to travel and then all of a suddenÂ
they just start going places and not really  thinking of where they really want to go and whyÂ
they want to go there I kind of had to regroup  because when I first retired I kind of I thinkÂ
everybody does that you go through that I just  want to get out and go go go go go go and you'reÂ
just going everywhere but you're spending money  going everywhere and so you want to kind ofÂ
maybe reel that back in it's okay to have that  little brief period of doing that but you want toÂ
reel that back in and really think about you know  where is it where do I really want to go why doÂ
I want to go there what do I want to experience  once I get there make sure you're spending yourÂ
travel dollars on things that are value to you  and make yourself more conscious of the typeÂ
of traveling you're doing I know I did a lot  of girlfriend getaway travels you know spy andÂ
all that and that's great but I really want it  I want to explore the world that's what I reallyÂ
want I want bigger trips and so you know you need  to just be conscious of what your goal is as farÂ
as you're traveling and where you what you want to  see and make sure you're you know you're puttingÂ
your money into that type of travel versus just  doing things yeah yeah what I really like thatÂ
you shine a light on is now that you're retired  you can really lean into off season and one thingÂ
that's not in your workbook that I love about off  season that Cheryl and I have found because sheÂ
is a somewhat flexible job and I could travel  whenever man off season you get more of the localÂ
experience because the places aren't full of a  bunch of tourists people are more likely to beÂ
able to linger and talk to you like off season  is great but to your point you save you save aÂ
bunch of money there too exactly and I travel  now that's all I do is try to travel off seasonÂ
because just like you say as far as you want to  make sure with your dollars that you're spendingÂ
them in a conscientious way as far as when you're  traveling too going off season I feel like thoseÂ
retirees the best time for you to travel because  you really get a feel for everything withoutÂ
the crowds and like you said the pricing is  better you're able to enjoy it in a differentÂ
way what are some other ways that new retirees  and people that are stackers that maybe are areÂ
getting close to retirement can think about areas  where they might be able to save money besidesÂ
on discount or off season travel at first I would  just look in your budget overall of what you youÂ
know you have developed as far as your I think  everybody should be tracking their costs beforeÂ
they retire and coming up with a overall budget  um what they think their retirement is goingÂ
to be but some of the things you can look at is  cars you know the insurance and things of thatÂ
nature look at that to see if there's ways you  you can save on that once you retire there'sÂ
also lots of discounts and stuff like we were  talking about off Seasons but also if you kind ofÂ
pursue looking you know if you want to go to Parks  or whatever whatever your um interest might beÂ
looking for ways you can get discounts on things  of that nature and just be aware of any ways youÂ
can save money with traveling it's just a lot of  different ways out there too for other things asÂ
well two big ones I really like that you had uh  if you've got two vehicles you might be able to goÂ
to one you know think about what you think about  Transportation evaluate your life insurance doÂ
you need it anymore are you financially solvent  enough where maybe you could get rid of that andÂ
then a medical one which I really liked was hey  this medical thing is going to get expensiveÂ
stay healthy which also gets you out of the  house I feel like Veronica again you're kickingÂ
people's butt out of the house I definitely with  the medical and the exercising and now that you'veÂ
got all this time you've done definitely can get  a nice physical routine into your everyday lifeÂ
just simple walking I know I take morning walks  every morning and not just for exercise but forÂ
meditation purposes for me as well but yeah we  all know the medical cost is a big expense whenÂ
you retire and we also know that you get more you  know seditary in your way you're not as active asÂ
you were where you were working so I do recommend  that you do have a physical fitness routine forÂ
yourself when you retire to keep yourself healthy  so you can reduce those medical costs becauseÂ
a lot of the Medical classes stuff you can  prevent yeah and things that you could be doing toÂ
prevent you get but you got to start early on your  retirement and start doing things to keep yourselfÂ
healthy when we go to the doctors at a certain  age you're all getting those oh you're close youÂ
know borderline there's water flush that and stuff  it's time for you to really you know we're at thatÂ
point you can do things within your health to keep  yourself more healthy so yeah yeah definitely IÂ
look at a hamburger now and my cholesterol goes up  I just look at it I don't know how that medicallyÂ
happens but it's crazy that is we all we all know  that feeling with people that own their houseÂ
you have a section of your workbook to go through  Renovations on your house and thinking aboutÂ
your housing situation this is the number one  area in our budget our house what are some ofÂ
those key considerations about our housing we  should be thinking about yeah a lot of peopleÂ
like especially if they want to stay in their  houses should look in as far as their as I callÂ
Aging in place in the houses and look how well  their house is going to be able to support themÂ
once they start aging and look at you know I have  a checklist in there of things that you shouldÂ
look at as far as your stairs and your appliances  and just repairs and stuff that you might needÂ
to do to your house as you start getting older  those kind of costs if you're not prepared forÂ
them can wreak Haven on your retirement budget  so if your house is where you want to stay thenÂ
you definitely need to look at it like even the  showers grab bars and um stuff yeah steps ifÂ
that's going to work as you get older I know  with my husband he had had accident he couldn'tÂ
go up the steps but it made me start thinking  you know as we age you know we're not able to goÂ
up the steps how are we going to do it because  we don't have bedroom on our main level so thoseÂ
are the things that you need to really think about  if you're going to decide to stay in your houseÂ
so what you need to do and kind of come up with  a plan so it doesn't all hit you at once becauseÂ
sometimes it does you know unfortunately it'll be  unexpected like your husband's too I mean there'sÂ
no you know Tuesday everything's fine Wednesday  the game's changed exactly and you need to kind ofÂ
be thinking about that especially like I said if  you plan on stay in your house what your game planÂ
is and start trying to figure out how you can get  your house accessible so that as you age it'llÂ
it'll still suit you yes you talk about moving  and about a lot of people of course think aboutÂ
moving when they retire and you also talk about  friendships and I'm glad that you coupled the twoÂ
of those together because one thing I've always  thought and now I know we're here to interview youÂ
Veronica but I'm going to pontificate for just a  second no problem because I feel like people thinkÂ
of moving wait we talked about being too Cavalier  with this whole thing this especially to me isÂ
an area where people are too Cavalier I'm just  going to move closer to to my kids and what youÂ
find is that your kids are really busy they got  a bunch of stuff going on you become a full-timeÂ
babysitter but you don't end up interacting with  them in the way that they want and all ofÂ
these close friendships that you developed  over the last 30 40 years I'm a guy who lived forÂ
a decade in Texarkana I moved away to Detroit for  two years and Veronica we came back and notÂ
because I have family here in quotes because  all my friends are here I see some of my friendsÂ
as my friends are getting older you know I find  them getting vacation houses that are far awayÂ
and we're we never get to see them anymore and  I feel like this loneliness this isolation thatÂ
we put ourselves into because we think it's great  like we're I feel like we're way too CavalierÂ
about that but anyway I will shut up I'm gonna  get off my steps duel what do you think do you doÂ
you're sad at all Joe that is exactly what people  do they're very Cavalier they have this idea ofÂ
oh I'm gonna live here and it's going to be this  great but they have no special connections thereÂ
yes or I'm gonna go near the grandkids and the  grandkids are getting older the grandkids areÂ
going to grow up they're not going to be here  forever be little kids they're gonna grow up andÂ
have their own things or even if they're already  older they you know have their own activities andÂ
stuff to do so that's why in the in the workbook  I give a checklist you know it just even askedÂ
them oh yeah we want you close by and I say also  don't let your only connections be your kids yourÂ
grandkids or your kids you know you need to have  other social connections outside of them becauseÂ
a lot of people say I'm a little bit closer for  the children and that might not work out so yeahÂ
it's one of those things that I think everybody  has this idea of how it's going to be yeah thisÂ
grandiose kind of idea so not true so not true  and that's why hopefully when you go throughÂ
the workbook and you look through the checklist  and if you do the exercises that are focused onÂ
that you'll have a clear perspective of whether  that's a great move for you or not whether it'sÂ
going to work for you and as you retire because  I think it's hard harder once you get there to tryÂ
to move back so oh agree yeah yeah uh you talked  about how I was a retiree now you know you're notÂ
forced to get up and go to work you don't have to  now lead the charge like you did in your careerÂ
Veronica with your department with your agency  time management then becomes really importantÂ
then for retirees if you're going to get what  value you want out of life so you talk aboutÂ
morning routine daytime routine idea week  again accountability Partners but but IÂ
wanted to end by talking about this time  management system for retirees you call it uhÂ
postek p-o-s-e-c can you walk us through that  one of the things that people struggle withÂ
the most and I kind of alluded to that before  is you had a routine when you were going toÂ
work once you retire that routine is no more  and I find a lot of times with new retireesÂ
especially that's where they feel the most lost  is there's no structure to the day anymore they'reÂ
kind of and all you know all over the place and  don't know how they can spend time sometimes justÂ
Milling around not doing anything or whatever so  I want you to I you know sometimes when I tellÂ
people you know structure they kind of you know  like that's why I'm not working anymore IÂ
don't know why not I don't like yeah well  easy easy there all right if you want to try toÂ
put me back at work with destruction my name is this is the whole purpose of retirement I thoughtÂ
for me to just kind of Mill around and not do  anything but I thought we find that when peopleÂ
do that they get very bored so I just ask that  you just think of your days and more how am IÂ
going to start my mornings how am I going to  get up in the morning get started and get goingÂ
through the day I think once you get that start  up in the morning of what you're gonna do it kindÂ
of guides you through the rest of the day but you  do need to think about how am I gonna just getÂ
my day started you know when you don't have an  alarm clock to get you going every morning so yesÂ
the workbook is is my retirement my way it's a  workbook for the newly retired it's funny the wayÂ
that you go through goal setting like a 30 year  old would just reminds me the purpose is importantÂ
no matter no matter where you're at in life and uh  the book's available everywhere correct yes itÂ
is yes well thanks so much Veronica for helping  our stackers get successful with their retirementÂ
it's funny we talked to a guy Wes moss in Atlanta  about his book what the happiest retirees knowÂ
and it's so funny how it lines up so well like  if you read that and do your workbook you'reÂ
gonna implement this and you're more likely to  be one of those happy retirees so thanks forÂ
this work no thank you thanks for having me  this is Daryl from Pennsylvania when I'm not busyÂ
arguing with a four-year-old um stacking Benjamins oh gee I love that we can talk to VeronicaÂ
for over 25 minutes and uh the concept of  asset allocation doesn't even come didn't make itÂ
doesn't make the cut we're so busy talking about  what about my efficient Frontier it's all going toÂ
change I mean not the efficient Frontier but just  your emotional landscape I totally agree with herÂ
you see it all the time you go through this this  metamorphosis when you hit retirement and even getÂ
close to it that I think most people are way too  wait I guess they're not expecting it's a wholeÂ
different world I mean if you've been successful  in your entire life this is the transition IÂ
mean just inside the money concept not not all  the other stuff that she was talking about rightÂ
like time and energy and all that sort of stuff  but just the money piece of it transitioning fromÂ
being a good saver your entire life to being a  good spender for the rest of your life in and ofÂ
itself is a difficult change so hard to make that  switch and it's even harder when you don't reallyÂ
know what you want yeah you're much more likely to  just hold on to the money and the thing that youÂ
underestimate is time you don't have forever to  decide what you want to do would you rather haveÂ
Charlie munger's money at uh 90 or his wisdom at  uh or you know what is he a hundred or somethingÂ
like that is his you want to trade places with  him basically no nobody would trade places withÂ
Charlie hunger right now for all the money in the  world well what if Charlie Munger likes whatÂ
he's doing I understand that I'm just saying  like nobody would trade places with him becauseÂ
of the time you know because he's 90 something  oh like he's got billions of dollars so it's notÂ
it's not necessarily always about the money I see  what you mean but so you so to Joe's Point you'dÂ
end up with a really really happy last two years  of your life yeah that's right well it's ourÂ
it's our friend uh doc G's book about hospice  you know about these people who spent theirÂ
whole life chasing dollar bills or people  that spent zero time chasing dollar bills theyÂ
spend all their time going no I don't need any  money and then they realize if I would haveÂ
had some I could have had better family time  that's a good book hey let's throw out DavidÂ
lifeline and tackle some of life's most important  questions our friends at Haven life insuranceÂ
agency Doug they put what you value first IÂ Â tell you what uh white breasted nut hatches whiteÂ
breasted nut hatches yeah what is that that's a  bird and it's also a realization that you'veÂ
become old because one day you're joy riding  your frat brothers brand new car to Florida whenÂ
all he thought was you were like driving around  the block and you're like we're going to FloridaÂ
and the next day you're getting out your bird  ID app because some Bird shows up outside yourÂ
window what is that at least it's an app and not  a book yeah true but uh and then I also spotted aÂ
fairly rare for my area a brown merger [Laughter]Â Â both of those are fantastic names for birds andÂ
I saw them both this morning but you know you  know number one thing OG is it's an app on hisÂ
phone but the thing that makes him proudest is  that it's his most used app on his phone like heÂ
gets that report from Apple and they're like you  open that Bird app a lot well thank you nextÂ
to his uh walking step counter app and the one  that monitors his blood pressure he's he's alsoÂ
the continuous glucose monitor blood pressure  number of steps in the New Balance appÂ
I don't see a problem with any of this  to order new shoes every six months given hisÂ
history Anything Could Happen hey uh speaking  of anything happening we should uh go ahead andÂ
throw a Paving Lifeline because the answer that  question Doug was your loved ones in your timeÂ
with a bird app it's why they've made buying  quality term life insurance actually simple moreÂ
time to catch the brown and merger beeping out of  the hole hey stackabenjamins.com havenlife nowÂ
please go there and then fast forward this 15Â Â seconds to get us out of this bird discussionÂ
their application's simple getting us to cover  his decision their parent company Mass Mutual isÂ
more than 160 years old so you know that they've  done this before hey uh today we we I I loveÂ
Karen repine our show Runners notes for us this  is uh Jim from Wisconsin calling in and KarenÂ
says Jim from Wisconsin a real person not Doug thanks we actually have a real WisconsinÂ
idea is that was is it wisconsinite or  is it just cheese head do you justÂ
say cheesehead yeah I think that's  the preferred term it's in theirÂ
state either Constitution hey Jim hey guys Jim here and I actually am fromÂ
Wisconsin I have a question about what  percentage to contribute to my traditional 401KÂ
versus my Roth 401k I'm five to seven years away  from retirement maxing out my 401k contributionsÂ
I read somewhere that when you have saved six  times your annual income you should move allÂ
your future contributions to the Roth option  what's the thought process in deciding how muchÂ
to put where I'll be looking for that shirt thanks  Jim thanks for the call thanks by theÂ
way for proving that you're really from  Wisconsin uh Burton from Minnesota needs toÂ
learn from Jim he's got to put some Midwest  on that uh yeah if you're listeningÂ
from last week take a note from Jim  it's a good effort Jim I'll give you thatÂ
I mean you made a You made an attempt but [Music] it didn't you don'tÂ
think Jim really talks like that  but that is not a Wisconsin accent oh notÂ
as good as yours was is that what you're  saying I don't know what you're talkingÂ
about not as good as the interloper yeah  Jim thanks for the call oh gee have you heardÂ
this uh rule of thumb that he's using six times  nope six times what six times something I'veÂ
never heard that gym next time something I've  never heard it yeah the answer to when should IÂ
put money in a Roth 401k versus a regular 401KÂ Â is largely determined by your ability to pay theÂ
taxes today you know you think about it if you're  making a hundred grand and you're contributingÂ
the maximum to your 401k you're putting 22Â Â 000 in your 401k this year which if it's pre-taxÂ
is going to lower your taxable income to 78 000Â Â before your deductions and all that other sort ofÂ
stuff that roughly is going to save you maybe four  or five thousand dollars in federal taxes becauseÂ
of that contribution not including any state taxes  if you switch to the Roth side then that deductionÂ
doesn't appear in your W-2 so you effectively are  going to have a four or five thousand dollarÂ
additional tax withholding throughout the year  so it's you know back to our discussion at theÂ
beginning of today your budget is going to be  affected by call it 400 bucks a month if you canÂ
afford that if you can fold that into your budget  and not go into credit card debt or not have toÂ
borrow more money for cars or student you know  like if you can deal with it then obviously it'sÂ
better to pay your taxes today well not obviously  but it makes most sense I think to pay your taxesÂ
today because it's a known thing you know in the  future all of that money becomes tax-free foreverÂ
and there's no there's no government requirements  of withdrawals there's no government requirementsÂ
of those distributions that you have to take once  you are retired it's all in all the roths sideÂ
is way way better but it comes at a cost which  is that 500 bucks a month well and I think I wouldÂ
think OG you know he talked about doing the Roth  later in the pretext earlier I would think thatÂ
to pay that cost and to make it even more worth it  because of the fact that you are prepaying the taxÂ
you need those assets to grow much much much more  so I would think that at the very least flippingÂ
that around and doing the Roth first makes more  sense like the further you are away do the RothÂ
don't don't do pre-tax first and then switch to  Roth I would do Roth as early as I can and switchÂ
to I mean if I'm choosing one or the other which  you and I know this most people that listen toÂ
this don't we haven't had this discussion a long  time we don't think either one of these is rightÂ
we think you should be doing some of each because  you don't know what the future is going to holdÂ
but certainly or Roth first approach versus the  other way around it doesn't make more senseÂ
if you're thinking about it from the kind of  historical context of your earnings you're goingÂ
to make the least amount of money early in your  career and the most amount of money on the backÂ
end right like usually that's how it works you  your income continues to increase throughoutÂ
your career so if you have to pay your taxes IÂ Â would rather pay them at a lower rate if possibleÂ
versus when I'm 50 and I'm making 200 000 a year  maybe that's the time to use the pre-tax bucketÂ
because of the fact that most 401ks come with  company matches and those matches are also pre-taxÂ
I think that if you can start out doing a Roth  early in your career and continue to do it yourÂ
entire career you'll end up with a good enough  balance of Roth 401k and pre-tax because of theÂ
company matching contributions being pre-tax but  if you're really trying to optimize tax bracketsÂ
and that sort of thing you can kind of manipulate  it as you get toward those higher tax bracketsÂ
the problem with all of this of course is that  we're taking a very big guess at what tax ratesÂ
are the day you withdraw the money how do we  know whether or not this worked pre-tax versusÂ
Roth well if you put the money in a Roth 401k  and you take it out in the future you're bettingÂ
that today's tax rates are better than tomorrow's  tax rates you're saying I'd rather pay taxes todayÂ
than in the future because the future I think are  going to be higher that's what you're saying andÂ
the vice versa is also true if you put the money  in pre-tax today you're saying I think I can takeÂ
this money out at a better tax rate in the future  then I can pay it today so I'm you know I'm atÂ
a high tax bracket today I think I'll be in a  lower tax bracket in the future the only way thatÂ
you know whether or not you're right is after you  know that you're right because we don't haveÂ
the chart that says what are tax rates in 2037Â Â because if we did then we would be able toÂ
calculate it and say with certainty this is  a better choice based on the circumstancesÂ
all we're saying is I think I might have a  lower tax rate in the future or I thinkÂ
tax rates might be higher in the future  the one thing that I can say is that if CongressÂ
doesn't change any of the rules Roth contributions  Roth growth and earnings are 100 tax-free foreverÂ
so I don't care what the tax rates are in 20 years  from now when I take the money out because it'sÂ
tax-free yeah if I'm gonna lean I'm leaning toward  pay the taxes today be done with it that saidÂ
slots approach too by the way which is to say  you got the cash today pay it today so that youÂ
don't look at your IRA and go I've got a million  bucks in my IRA it's like no you don't you haveÂ
500 000 in your IRA because half of it is for the  government Doug I think this is really importantÂ
uh stuff for you I mean given your history with  taxes and I have no history with taxes so I'mÂ
good well maybe that's the point you gotta earn  something to pay taxes maybe that's the point bigÂ
thanks to you Jim for the call if you would like  to call and ask a question you know what we willÂ
send you a Haven life stacking Benjamin's greatest  money show on earth circus t-shirt and Jim fromÂ
Wisconsin really from Wisconsin is getting one  cent his way slash voicemail gets you the shirtÂ
and we're happy very happy to send it to Jim as  I stare ready Doug as I say that I don't know whyÂ
I'm staring at Doug as I said Jim well he sounds  hideous what are you talking about well it'sÂ
just I mean it's like a fiction just thing right  this gym it's like the the State Farm guy that'sÂ
who you're talking to I know I think it's Jim IÂ Â think somebody's having a tough day there OG wellÂ
before we say goodbye today time for our community  calendar man we've got a great week over on theÂ
stacking deed show where Crystal Hammond and Alan  Corey dive into real estate Alex e Edwards isÂ
a guy who helps uh has helped a lot of people  in the southeast part of the United StatesÂ
get out of intergenerational poverty through  real estate teaching some real estate helps themÂ
learn how to buy houses how to learn to do it in  a responsible way he's going to be their guest onÂ
tomorrow's show over on stacking Deeds of course  our other sisters show the earninginvest podcastÂ
doc G always has guests who dive deep into Allah  into some some topic that is uh always excitingÂ
and a fantastic and a fantastic discussion he  has a friend of ours Fritz from the retirementÂ
Manifesto coming up on Thursday Fritz is a guy  who retired young documented his retirement an OGÂ
to Veronica's Point earlier in today's show Fritz  has really done it right this guy is so busy butÂ
now doing that second career I think he serves on  a couple of boards he Volunteers in the city ofÂ
Asheville in a couple different capacities one  is working with animals he's always out in hisÂ
wood shop this guy has so much going on he's not  sitting there wondering what he's going to doÂ
so if you're interested more in in retirement  Fritz will be over on earn invest of course hereÂ
on Wednesday the draft the NFL draft is Thursday  so we've got Rob Welch he and a former NFL playerÂ
wrote a book together about going pro with your  money we're going to talk Wednesday about noÂ
matter what you're trying to go pro in how do the  pros treat their money A lot of pro players aboutÂ
to get a big payday on Thursday and as we already  know a lot of them don't do the right thing withÂ
that sudden money OG it goes in the wrong place  that's what's coming up this week thanks so muchÂ
for hanging out with us today if you're somebody  that's my kind of person and will leave aÂ
review for people that they only know via  podcast or maybe you've hung out with thisÂ
on one of our social media channels please  leave a review of the show that helps us soÂ
much helps new stackers realize what they're  getting into a little different take on moneyÂ
than maybe some of the other shows out there  thanks to everybody who's done that Mom puts thoseÂ
on her refrigerator if you're not here though to  hang out with us on social media you're not hereÂ
just for Doug's trivia you're here because of the  fact that you're worried about the economy you'reÂ
worried about your money and and how it works  together and as a lot of those fears begin to rampÂ
up for people you might be feeling anxious to make  some moves in your finances what I'd like youÂ
to do instead is check out this free guide that  OG and his team have put together that'll help youÂ
plan more and panic less no matter what the market  does it has some great insights on what you shouldÂ
be doing and smart questions to ask yourself so  that you make financial decisions your future selfÂ
will thank you for head to stackybenjamins.com  guide that's stackybenjamins.com guide to get thatÂ
free guide from OG all right that is what's going  on in the community man a lot of takeaways todayÂ
but Doug what are the top three man well Joe first  take some advice from our guest Veronica McCainÂ
and create your own unique roadmap to retirement  second take a memo from our Tick Tock minuteÂ
to up your vocab game and Excel above the  competition I'm sure you'll get promoted in noÂ
time but the big lesson turns out five times in  a row is the limit to singing Heartbreak HotelÂ
at the top of your lungs after that Joe's mom  starts to get irritable and make threats now thatÂ
I think about it probably was the hip thrusting thanks to Veronica McCain for joining usÂ
today you can find her book my retirement  my way a workbook for the newly retired toÂ
create meaning set goals and find happiness  wherever finer books are sold we'll also includeÂ
links in our show notes at stackingbenjamins.com this show is the property of SB podcasts LLCÂ
copyright 2023 and is created by Joe salsi  High our producer is Karen rebein this show wasÂ
written by Lacey Langford who's also the host of  the military money show with help from me Joe andÂ
Doc G from the earn an invest podcast Kevin Bailey  helps us take a deeper dive into all the topicsÂ
covered on each episode in our newsletter called  the 201 you'll find the 4-1-1 on all things moneyÂ
at the 201 just visit stackingbenjamins.com 201Â Â Tina eichenberg makes the video version of thisÂ
show Once We bottle up all this goodness we ship  it to our engineer the amazing Steve Stewart SteveÂ
helps the rest of our team sound nearly as good as  I do right now want to chat with friends about theÂ
show later mom's friend Gertrude and Kate Younkin  are our social media coordinators and Gertrude isÂ
the room mother in our Facebook group called the  basement so say hello when you see us postingÂ
online to join all the basement fun with other  stackers type stackingbenjamins.com basementÂ
not only should you not take advice from these  nerds don't take advice from people you don'tÂ
know this show is for entertainment purposes  only before making any financial decisionsÂ
speak with a real financial advisor I'm Joe's  mom's neighbor Doug and we'll see you next timeÂ
back here at the stacking Benjamin show foreign [Music] the after show this is uh the part ofÂ
the show that doesn't exist if you're  new here what happens in the after show staysÂ
in the after show getting back to your clothes  I think that singing Heartbreak Hotel at theÂ
top of your lungs just you know given your  history might not be might not be great wellÂ
since my baby left I find a new place to dwell  they're down at the end the lonely streetsÂ
called speaking of speaking of Doug's history  um there's unfortunately OG a doctorÂ
out there who has violated HIPAA rules  and um got us audio from Doug's latest therapyÂ
session and uh well I thought that as long as  they broke the rule we didn't we should probablyÂ
play it look at the look OG can't wait for this  he is so excited about that well I thinkÂ
this is bad I think doctor shouldn't be  doing this but as long as they have let's noÂ
this is this is Doug's latest therapy session you what well you had waffles for dinner and you had  waffles for breakfast so we'reÂ
gonna eat something else oh I oh I don't know sounds like you're obsessed nowÂ
you're really crying pretty good there now  everybody is thinking about waffles like thatÂ
brain worm is in there and you're going to  be thinking about it now for the rest of theÂ
day well I I think I I mean I I really think  that uh you shouldn't be thinking about wafflesÂ
given your history you're begging for me to ask  I've resisted this whole time I'm not gonnaÂ
ask I'm not gonna ask why you keep harping  on my history so OG and I saw this uh this videoÂ
that these guys said that that if you really just  want to mess with somebody just end as manyÂ
sentences as possible when you talk to them  with given your history just say it over and overÂ
and see what happens and watch them watch Doug  unravel the entire show they melt it is surgicallyÂ
effective like it has just been driving me crazy  I said it's Alyssa I don't evenÂ
remember what it was about but I just  you know she was like brushing herÂ
teeth or something and said well you  know given your history and she'sÂ
like what is that supposed to mean you know just totally like around everythingÂ
to a halt just like you said yeah I think that  is a bad marital move I said this will workÂ
well with Doug I would not yeah I would not  do that right before bed because you are notÂ
sleeping that night stackers you may or may  not want to try that your results May Vary butÂ
ours ours I thought today were pretty good Doug  didn't know what the hell was going onÂ
actually now that I know it's actually  more impressive that you found a way toÂ
dodge my question the whole the whole  episode you know given your history of courseÂ
yeah I'm not not enjoying your company anymore
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