Everyday Investors Are Beating Fund Managers (Copy Their Strategy)

Why Everyday Investors Are Beating Professional Money Managers (0:02)

Brian: Everyday investors are whooping professional money managers. How can you do it too?

Bo: Brian, I am so excited about that because what we’re going to explain, what we’re going to share with you today is so simple in theory. It’s so simple in thought and yet behaviorally it becomes so so difficult. And so many investors, professional or otherwise, actually screw this up all the time.

Brian: Well, first thing when people find out what I do for a living, I think they just think we sit around and do stock picking or market timing. So I always say, “When’s a good time to invest in the financial markets?” And I’m always like, “Always be buying.” It’s always a good time to be an investor.

Bo: I think yesterday was a good time to invest. I think today is a good time to invest. Tomorrow’s a good time to invest. But why do a lot of people not feel that way? Well, if you look at the actual data, the average equity investor historically has underperformed the overall market by 5%. And so you begin thinking, okay, well, everyone says investing is so amazing, so wonderful, so incredible. But when you look at the average investor, they actually do pretty poorly. But it has a lot less to do with the market and a lot more to do with the actual investor themselves.

Brian: Yeah. So let’s get into some of these behavioral science things. There are terms like loss aversion. What this means is people really outsmart themselves. They make fear-driven decisions. People see the stock market get beat up a little bit and they start looking for the exits as fast as they can. They sell during the worst possible times that they should not be selling.

Bo: Another thing that we often see investors do is they move just because something exciting has happened or someone else told them they should or should not do something. Whether it be a positive or negative thing, they end up moving in a herd, falling into a pack. And oftentimes if you are greedy when others are greedy and fearful when others are fearful, it’s not going to lead to the best outcome or best result.

Brian: And then let’s not underestimate the very very concerning overconfidence that most of us humans have, where we look at ourselves and overestimate our ability to predict what’s happening in the market, or think we’ve created a system that’s going to make things better than the average investor.

Bo: Now, here’s what’s really interesting. This isn’t just for small investors. This isn’t just for everyday retail investors. If you actually look at the data, according to SPIVA, over the last 15 years, 90% of active managers, 90% of folks whose job is to go out there and get a return in excess of a benchmark in order to justify their fee, 90% of active managers underperform the S&P 500. What that means is that if you were an investor, you likely would have been better off just buying the market, buying the index, buying the S&P instead of hiring a professional to do that part for you over the last 15 years.

Brian: Yeah. And I kind of begin with the end in mind. I already kind of gave this away, but this is why we absolutely love dollar cost averaging. If you can set it and forget it and always be buying, that’s what I love about that strategy. It really doesn’t matter what’s going on in the economy or the geopolitical world. It’s going to help you start building wealth the right way, which is slow and steady. And then one day, the exponential growth takes so much traction you look back and go, “How did I get here?”

Bo: Yeah. And we get this, but okay, this is theory, theory, theory, theory, theory. All right. What about in the real world? How does this actually play out? Well, we love to show this illustration because I think it paints the picture quite vividly. If we think about the history of the stock market and specifically one of the most significant, most drastic downturns we have ever seen, it was the Great Depression. If you look at the 25-year trading period, the market, the Dow Jones, it closed at 381 on September 3rd of 1929 and then it closed at 383 on November 23rd of 1954. That’s a $2 increase over a 25-year period.

Brian: Well, if you were an investor at this time, you might be thinking, “Oh, well, that’s not even a lost decade. That’s like a lost 20-plus years. That’s like a lost working career. Why on earth would I ever invest? Why would I participate in a market where it’s possible for the market to end no better than it started for 25 years?” But think about this. If you were just doing the always-be-buying or dollar cost averaging where systematically you were buying into this volatility and reinvesting the dividends and so forth, would you be surprised to learn that during this crazy 25-year period where the market literally was flat and only made $2, you had an annualized rate of return of 11.7%? That’s right. That’s because your behavior was the all-terrain vehicle. It was buying while things were going down, and you were still buying. While things started to recover and had a sputter start but then went back down, you were still buying. You didn’t let that distract you. You will be rewarded if you can stay the course.

Bo: But I can already hear the comments coming in. “Guys, you can’t talk about the Great Depression. That was almost a hundred years ago. That’s an old school idea.” Well, this same thing can actually happen and does happen right now today. If we just think about 2026 so far, if we think about the way the market performed in the first quarter, if you were following the headlines, if you were allowing yourself to fall into this loss aversion mindset, if you were allowing yourself to fall into the herd mentality, you might have recognized that on March 30th, here’s a headline: “The American consumer confidence hits a 2026 low as geopolitical turmoil and inflation reemerge.” Oh no. Scary, scary, scary. Bad, bad, bad. And yet, if we actually look at what the market has done since that time, since consumer confidence was at the lowest part of the year, it’s actually made 14.3% since that time. If you would have acted on the fear that things are scary and uncertain, then there’s a really good chance you would have actually missed out on this uptick of 14% since that point.

Brian: So let’s give you the rubber-meets-the-road moment here. What are the key takeaways? The big thing, don’t outsmart yourself and don’t overthink this. This is one of those things where if you just have this always-be-buying, set-it-and-forget-it mentality, you get to take out all the other noise. That’s why I always do the analogy. When we talk about volatility, I say it’s that yo-yo. You remember, you’re the investor and every day the stock market is going up or down, but every day you’re also walking higher and higher up a mountaintop of a growing economy. So if you can just stay the course, you don’t have to drown yourself in all the information that in this new modern world kind of keeps us in analysis paralysis and other things where people just don’t fall into the good behavior that actually builds wealth in the long term.

Bo: Yeah. When it comes to building wealth, we believe that time in the market is way more valuable than timing the market. And if you want to see just how powerful that can be, I want you to go to moneyguy.com/resources and check out our wealth multiplier calculator. You can literally put in your age, put in the amount that you have invested, and you can see, okay, what does every dollar I invest, or what does every dollar that I have invested up until this point, have the opportunity to turn into by the time that I reach 65, by the time that I reach 55? And it can show you just how powerful your dollars can be. It does not have to be more complicated than that. You do not need a finance degree. You do not have to be some astute investor to be able to capitalize on allowing your money to work harder than you do.

Brian: And with that, that’s probably a great transition over to our creative director, Rebie. What if we put a camera in our content meetings and you guys were part of the process of us developing content? Is that something that you would watch, participate in?

Bo: Can we do a poll on that? Because if you say yes, because we do love that we get to sit here, we love that we get to do this, we love that we get to load you up. So every single Tuesday at 10 a.m., in addition to sharing the stuff that we’ve put together behind the scenes, we love speaking to the things that you guys care about. So if you have a question right now, we have the team out in the wings collecting your questions because we do believe there’s a better way to do money. Get your question in the chat. With that, creative director Rebie, I’m going to throw it over to you.

Rebie: Yes, I’ve got some questions queued up and it is these people’s lucky day because it is Tumblr day. I just want to throw that out there right now ahead of time. So drop your questions in the chat.

Brian: Why do we love the tumblers? Because they transform from koozie to, quack quack.

Bo: You don’t even have it out here, Bo. They didn’t put mine’s not here.

Brian: Oh my gosh.

Brian: To a tumbler. You can actually keep your beverages either hot or cold. My Vanna White didn’t show up today, so I’m sorry you don’t get to see it in that. Normally I have the three-beverage setup here. Okay. My three buckets. But he does have the other koozie, though, so I guess we’ll cut him some slack.

Bo: I do have another, oh man. It’s all right. It’s all right. I’m going to water the whole show because you said that.

Q&A: I’m About to Close on a House at 18% Down. Should I Pay Extra to Remove PMI? (10:21)

Rebie: First question is from Ben K. He says, “Hi Money Guy Show. I am 24 and about to close on a house. Wow, nice, way ahead of the curve. My estimated PITIA will be just under 25% of my gross income. Should I put extra payments until PMI goes away? Down payment is about 18% and loan is at 4.99%.”

Bo: I’m going to read this again because I was caught on PITIA. Principal, interest, taxes, insurance, association fees. So that’s going to be under 25%. Should I put extra payments until PMI goes away? Down payment is 18%. Oh man. You’re really close, right? I think it’d be worth entertaining. Based on the size of the home that you’re buying, what would it take to get 2% more? Like, how much more capital would that be? And then I run the calculation. Okay, if I do 20% down and I avoid PMI altogether, what’s the change in payment? I’m going to take that savings in payment, put that money to work, would that be worth the additional 2% that I had to put down on the house? I think being this close, I don’t think it’s a crazy mathematic to run.

Brian: But that’s not the way he asked the question, Bo. He’s saying should he continue after closing. Because I think what you’re saying is if you can get the extra 2% before closing. But we all know even if he starts throwing extra money there, there is an entire process you have to reach out to the lender to get them to remove the PMI. And I’m here to tell you I think that realistically if we’re post-closing, it only takes a year to two years where just through the appreciation through inflation, you’re going to have 20% and still have to go through the exact same process. So if you’re trying to tell me from a lifestyle decision you’re going to forgo having a Roth IRA, a fully funded Roth IRA, versus going ahead and throwing extra dollars at 24 years of age on PMI, I’d rather you just let it happen naturally and go through the process in a year, year and a half, two years. You might even want to go ahead and check in with your lender and say, “Hey, when is the first look-back I can even have on getting PMI removed?” Because they might have a certain period of time before they even give you that look-back option and there’s probably going to be a cost.

Bo: Yeah. And I’m hoping because 4.99% is a pretty good rate right now. I don’t know when you bought the home.

Bo: He says about to close. So you still have the potential if he could come up with the 2%.

Brian: Oh yeah. So he should, okay, that’s not the way the question’s written.

Bo: I’d still scramble to find the 2%. I agree with everything you said and I would scramble to find the 2%.

Brian: But what if he’s closing next Friday?

Bo: I’d do the math to scramble to find the 2%. I don’t know how much house it is. It depends on what the dollar figure is. It’s a good problem to have, Ben.

Rebie: Good problem to have. Ben, if you would like a Tumblr, just email [email protected]. We’d love to send you one since we answered your question.

Q&A: Does the 25% Savings Rule Apply to Overtime Pay Too? (13:33)

Rebie: All right, next question is from Ahbreh622. It says, “Is there a Money Guy rule of thumb for how to handle overtime? I’m currently working around 60 hours a week. Should I save 25% of it? All of it? Should I use it on one-off projects? What do you think?”

Bo: Yeah, this is one of those things, this is why we love the 25% metric so much. When we talk about it, we say 25% of your gross income. If you’re a part-time worker and you’re only working half the time, it’s 25% of the gross income. If you’re working overtime, we want you to be saving 25% of the gross income. Unless you’re working overtime in this specific season for a specific purpose, then it might be like, “Hey, I’m going to take a few extra shifts, I’m going to work a little bit of extra overtime because I know that I want to save for that next car, next whatever the thing may be.” We still want you saving those dollars, but you might be saving those for a short-term to intermediate-term goal as opposed to a long-term goal. But whatever your gross income is, we want you saving 25% of that amount.

Brian: So Aubra, your question is does the Money Guy have a rule of thumb on how to handle the overtime? The answer is yes. It’s called the Financial Order of Operations. What you should do with your next dollar is to figure out, am I in step four? Am I in step five? And when you look at that, then yeah, you say, hey, I’ve got extra money coming in. Exactly what Bo said. Run it through the filter of, am I trying to save and invest 25%? And by the way, if you’re under $100,000 for a single individual, $200,000 for a married couple, you can take into account your employer’s match with that money. Figure out and load up that money, that overtime, let it fulfill what’s going on with your army of dollar bills.

Rebie: Good stuff. Ahbreh622, if you would like a Money Guy Tumblr, just email [email protected].

Brian: I feel like we’ve done so many rapid fire segments that it’s making us better at answering questions. We’re getting faster. So I feel like we have to put in some other stuff in there just because we’re going to end up making it through 26 questions.

Bo: Do you have some other stuff that you want to put in there right now? Was that your lead into a tangent right there?

Brian: No. I mean, the only tangent is because I was, you know, I was at the beach last week. By the way, did y’all know, if you got the newsletter, they showed my beach view, but I found out that they cut out my feet. I guess they’re trying to tell me that I have ugly feet. They’re obviously functional feet because you’re built like a swimmer. Very functional over form.

Bo: It’s not an indictment on your feet. I just think that most people in their Saturday morning newsletter while they’re drinking their coffee, they don’t want feet as their first picture. I just don’t think that’s the thing. You sent us a beautiful picture of the beach, but all that we could see were the ten little guys waving at us as opposed to the beautiful shoreline.

Brian: So what’s funny is perspective matters. When I sent that message, I was like, “God, the team didn’t even respond to me.” It’s kind of rude that nobody liked my beach photo. And then I come in today when we’re doing our content meeting and I found out y’all had the, the reason nobody was responding is because y’all huddled up and were making fun of my ugly feet. So I was basically being picked on behind my back.

Bo: You have wonderful looking feet. They’re functional feet. They’re not bad looking feet. They’re great feet. I just don’t know that feet are what you want in your beach picture. You ever go to someone’s home and you see this beautiful beach landscape and it’s this wonderful portrait up there? There are never feet and toes in it. It’s not you.

Brian: Well, how would you know it’s a photo from me though if I didn’t put something? Because if you just take only landscape photos, those are boring photos from vacation. But if you put yourself in the photos, it’s better.

Bo: Even if your feet weren’t there, how are we going to know it was you? You know how we knew the picture was from me? My feet. Because he sent it. You know what I mean? We pretty much locked in on that one. All right. I want to be very clear. I didn’t plan to have that tangent, but that’s what was going on in the content meeting. There were no derogatory comments made.

Bo: Oh, come on. Y’all were laughing about my feet.

Rebie: No. It was more just that the feet were in the picture. That was it.

Bo: What? Do we have some in Discord? Can we put the actual picture in?

Brian: I don’t know if we need to do that. Well, because now I’m a little self-conscious about my feet. Now that I found out that there’s an issue with feet, I don’t know, it’s a weird thing.

Bo: There’s not an issue with feet. It’s just the picture. We don’t want to detract from the picture. All right. We’ve caught back up to being as slow as everybody anticipated. But I mean, I don’t care, for the crew. I would let y’all show my feet. I thought the funniest part of the picture though is that the way the shadow cast, it looked like you were wearing a wet suit. Like it looked like you had long pants on. It was a fantastic picture. We’re so thankful that even while you’re laying on the beach, you were thinking about us. You were like, you know what, I want the team to enjoy the view that I have right now.

Rebie: So two things there. If you want to see the full picture that Brian is describing, go to moneyguy.com/moneyverse and join our free Discord server. Then you can talk about personal finances, it’s very fun, and you can see Brian’s big toes. Didn’t think I’d be saying that. And then second of all, if you’re not subscribed to our email newsletter, because if you were, you would have already seen part of the beach picture on Saturday morning along with a really nice write-up about our why and getting to do what you want to do because of making good financial decisions. But go to moneyguy.com and you can subscribe to our email newsletter too.

Bo: You remember when you said we got so good at this? Yeah, I know. You just screwed it up. You were like, we’re doing so good, let’s just derail it a little bit.

Brian: But now let’s get it back on the rails.

Q&A: I Feel Guilty About a $5K Moose Hunting Trip With My Dad. Should I Go? (19:38)

Rebie: We have a question from FOOFighter66 up next. It says, “Good morning Brian and Bo. I’m 29 with one times his income saved and he’s on step five. My dad, 65, invited me on a $5K moose hunting trip next October, likely his last.” That’s so sad. “I want to go but feel guilty. Thoughts?”

Brian: Also, you’ve got until next October. I mean, so I would find out how long you can stretch out the payments. But yeah, and then also, you know, look, you know your parent’s situation better. I mean, but tell them your concerns, but that you’re going to make it happen. And see if there’s essentially a dad scholarship too.

Bo: Dad, I really want to go, but if you could foot the bill, is that a financial mutant thing?

Brian: I mean, look, as a parent who’s got a daughter who just graduated from college and is gainfully employed, I know I’m going to have to do nice things to try to help incentivize spending time together. I for sure will be doing nice things just like I helped her fund her initial Roth contributions when she was younger and starting in the workforce. I think there’s nothing wrong with it, if your parents are in a good financial situation, statistically, typically the parents are in a better financial situation than you just starting out. So that’s the only reason I’m not trying to turn you into a failure to launch. It’s just one of those things that I thought it was worth a conversation.

Bo: I just think far too often financial mutants miss out on some of the sweetness in life and they miss on things they can’t go back on because of the dollar figure. When I see a $5,000 moose hunting trip, I don’t know your financial situation, but I’m going to argue that $5,000 is not an insurmountable cost to overcome. Now, this is different than you saying, “Hey, I want to go on a $50,000 safari with my dad.” Then we’d have to pull the reins in. That’s a little aggressive. But $5,000, depending on your circumstance, might be a very realistic thing where you’re going to have the opportunity in the future to make more money, to save more money, to be able to afford this trip. If this really is your dad’s last hunting trip, you don’t get to go back and have any more of those.

Brian: Well, let me bring this into a better perspective. That’s a big thing, like the big lifetime memory of blossoming memories, because we’re not going to be here forever. Let’s start putting, because that’s a big thing. What small things can we do now to make this possible? Can you make your meal prep for the next three or four months so that all of a sudden every month you’re saving an extra two or three hundred bucks just because of the way you’re structuring decisions, small decisions that you were already doing? Are there things that you can sacrifice in the short term that will help cut the corner off of this so that now maybe it’s only $3,000 that’s actually coming out of your savings, or $2,500, versus the full $5,000 because you’re going to make some lifestyle decisions that make up for the rest of it.

Bo: Yeah. I’m just, I wouldn’t miss the trip.

Rebie: I wouldn’t either. That’s what I’m saying. He’s already got one time his income saved, so he’s slightly ahead of the curve. He’s on step five so he has an emergency fund. Sounds like you’re employed. I’m kind of like, you can make that happen. Yeah, we’re like, money is just a tool to let you focus on what really matters. It sounds like time with your dad.

Brian: I’d find a way to make it happen. But I would go turn over a few stones.

Rebie: FooFighter66, thank you for the question. Enjoy the hunting. Go get your Tumblr. And if you would like to keep things hot while you’re on your hunting trip, just email [email protected] and we’d love to send you a Money Guy Tumblr.

Bo: Where do you hunt for moose? Canada? Somewhere where it’s cold?

Rebie: I don’t know.

Bo: I guess I’m not a hunting expert. So the northern part of the United States I think has moose too. I’ve never killed a moose. I don’t know what permits and stuff are. You ever seen a moose?

Brian: No, I’m going to, only when I used to go to that crazy restaurant that had a fake moose that would talk to you. It was like a steak restaurant that, oh, Stony River? No, it had a different name. I think they’ve got a business now, but there was a moose head that would talk to you every few minutes.

Rebie: Was it Bugaboo Creek?

Brian: That’s it. I knew it. Somebody in the audience would know because they had one at Stone Crest. That was the one that we always went to. There was one in Fayetteville, Georgia. Bugaboo Creek. Thank you. Thank you.

Bo: Someone said nightmare. That was, I remember they had one. It was part of the new mall development. I remember that. Later this summer, I’m going to Canada for the first time and moose is on my list. I would like to see a moose in real life. I don’t think I’ve ever seen one. Lots of Rocky and Bullwinkle growing up.

Q&A: Should I Use the Same Index Funds Across My HSA, 529, and Roth IRA? (25:15)

Rebie: All right. We are going to do another question, but it is also going to be time for our rapid fire segment very soon. So get your rapid fire questions into the chat. If you’re watching live, be sure to put RF at the front of your questions so we know that you want it to be a part of that segment. That’ll be coming up probably between the 30 and 40 minute mark. Next question is from GABib1992. That’s a good year, by the way. 1992. The question says, “When investing in different account structures like HSA, 529, or Roth IRA, are you supposed to be invested in the same exact index funds throughout each account?”

Brian: It depends on where you are in your journey. In the beginning, getting the money in the right account structures is more important. Just following the Financial Order of Operations and maxing out your Roth, setting up your 401(k), all those things are more important than even the specific investment. So that’s why we like broad index funds, whether it’s the S&P 500 or if you’re even one of those people who wants to use a target retirement index fund. But then down the road as you build some wealth, around step seven of the Financial Order of Operations, you’ll start thinking about the three buckets and the efficiency of those investments because of the taxes at that point. But in the beginning, I wouldn’t get caught up in that. I would choose a really good core index fund and just let it rip.

Bo: I agree with everything that you said. You want my hot take? You know how sometimes when you’re taking a test and they ask a question and you jump on the answer real fast, but then when you read it again, you’re like, “Whoa, this is a trick question.” I think this is one of those because what’s really interesting is he didn’t say, “Hey, when investing in different account structures like 401(k), traditional IRA, Roth IRA, should you do it different?” He actually laid out three different tax-free account structures. Yeah, 529s are tax-free. Health savings accounts are tax-free. Roths are tax-free. Which means because they’re taxed the same way, there’s a likely chance that the types of indices, the types of investments you’re going to use in those three specific account types probably will be pretty similar. They probably will look kind of the same, again depending on your timeline, because the 529 as you get closer and need the dollars would need to be dialed down a little bit. That was the only one that I was going to draw attention to. That one seems a little different. If you’re early on and your kids are not close to college age, I bet it’s going to be a lot of low-cost index funds across all three of those because they’re all taxed the same way. I think it’s a trick question.

Bo: Yeah, I like that. But I would add the color that I like in 529s, and I think I’m somewhat of an expert now that I’ve had a daughter graduate from college and we used the 529 to pay for it, is that I like the age-adjusted portfolios, the index variety. I was very fortunate that the provider of my 529 was using essentially index target retirement funds. And it was amazing how when we needed the money it was there. I love the fact of how it annualized and grew over those years, and those small small contributions I made when she was an itty bitty baby turned out to blossom into a great 529 that helped pay for the first three years of college completely.

Rebie: That is awesome. Well, GA Bib 1992, if you would like a Money Guy Tumblr, just email [email protected].

Brian: Yeah, but I like it. Be creative with confidence. And we’re Georgia boys, so you can highlight the Georgia in that.

Rebie: GA Bib 1992 knows who he is. My nephew just graduated from the University of Georgia this past, go dogs, dude. You know how fun it is watching a new grad walk through the arch for the first time? It was very sentimental. It was awesome.

Brian: Such a Bulldog thing to say. Not that you’d know.

Rebie: No, I wouldn’t know. All right.

Q&A: Can I Front-Load My 401(k) Contributions to Take Summers and Holidays Off? (29:02)

Rebie: Next question is from TheBobbyB22. It says, “Hi Money Guys. You talk about always be buying. If I can front-load my 25 to 35% early in the year, can I take my foot off the gas to enjoy summers and holidays more? We’d still continue the 401(k) match.”

Brian: Yes, Bobby. The only curveball you have to watch out for is make sure your employer truly is going to give you that match, because we have actually seen plans that are structured where they don’t actually do the match even if you front-end load it. They cut off the contributions. We’ve seen that. So just make sure you do a little homework. But I’m okay with it because statistically it probably works out pretty good. You know, eight out of ten years, you just have more money more time for the money to work.

Bo: Yeah. I was going to say the only thing you’re going to miss out on is if you’re front-end loading it consistently at the front of the year, you’re going to miss out on some of the dollar cost averaging benefits. I’m thinking of that volatility in the fourth quarter of 2018, you know, that’s a big opportunity to be buying. So if you have money going in every month, are you still saving the appropriate amount if you’re saving 25 to 30% and front-loading it so that you can take your foot off the gas later? Absolutely.

Brian: And then behaviorally, just know thyself. Make sure you really are turning the spigot back on every year, because part of the set-it-and-forget-it that I like is that it kind of foolproofs you to a lot of the behavioral traps that we all fall into. And one of the ones when you’re doing things from a structured timing standpoint, you just forget about it. You get busy and then all of a sudden a month or two slips through the cracks and you’re like, “Wait a minute, I totally missed out on three or four months worth of savings.”

Bo: Just be careful with the behavioral stuff. You talked about the true-up provision. Did you say the name true-up provision? Because what you want to ask your HR if you’re thinking about doing this is, “Hey, do we have a true-up provision?” Meaning, so long as I put in X% of my salary, even if it’s not going in per paycheck, will I still get the employer match? If your company doesn’t have a true-up and they make you have money going in per paycheck, you could miss out. So it’s a really quick email to HR. Ask them. Not all plans have them, not all plans don’t have them. So you want to make sure you don’t miss out on that money.

Brian: Yeah. And it’s basically they’re going to just apply the percentage each paycheck. So if you front-end load it, you’re like, “Well, I got it all in there,” but they might have only given the match as a percentage off of each of those paychecks and they’re counting on giving you the rest later. But if you don’t have any money going into the plan, you just don’t get it because that’s the way their matching is set up. And it kind of stinks when it’s like that.

Bo: Oh yeah, because you miss out on free money.

Rebie: Well, BobbyB22, hopefully that helps you think through that decision. And if you would like to drink from a Money Guy Tumblr while you consider this, you can just email [email protected] and we will send you one as a thank you. By the way, that was the most Brian and Bo thing ever. The fact that I talk about the concept and you came behind me and cleaned it up by saying, “Hey, did you make sure you used the actual professional word that represents that concept you just said?”

Bo: I want, because this is why we work well together. A lot of times people don’t know the language, so they’ll be like, “Oh man, I got this great question I want to ask my HR.” But HR professionals are often not financial professionals. And so even when you ask them the question, they might say, “Oh no, no, yeah, we get a match.” But you want to be very specific. It’s kind of like artificial intelligence. The quality of the input will dictate the quality of the output. So you want to make sure you’re using the right vocabulary so whoever you’re asking can get you the correct answer.

Brian: Yeah. Because if you go and ask them, “Hey, if I put 6% in, I’m getting the full match, right?” “Oh yeah, you’re getting, we match here.” Like, no, no, no. Let’s get into the actual terminology. That’s right.

Q&A: How Do I Know When I Move From Step Six to Step Seven? (32:51)

Rebie: All right. Next question is from splos603. “How do I know when I move on from step six to seven? My wife and I don’t make enough to fill every account, but we are doing 25%. Are we on step seven? And can you expand on step seven? I’m 24, married, and with $195K.”

Bo: Wow, that’s pretty awesome. 24, married, $195K. That’s certainly out ahead of the curve. You actually wrote the book on this. You wrote the book on how to progress through this.

Brian: Yeah, the most improved chapter when I was doing the original version of Millionaire Mission was really the step seven chapter. And by the way, yes, I’m going to go ahead and answer for SPO 603. Listen, you are definitely in step seven because the 25%, we’ve had this question come up because there are a lot of people that will make under $100,000 that will never reach the 401(k) funding limit for the year, but they have definitely reached the 25% savings rate, especially if you include your employer match. So you should move to step seven. The whole purpose of hyperaccumulation or step seven is that now instead of you thinking through, because steps one through six are all very much reaction or cause and effect, meaning we’ve got to have emergency reserves to keep you from making desperate decisions, we’ve got to get the free money from your employer because it’s just that valuable, you can’t pay a bank 20-plus% and expect to be successful, that’s why step three is set up the way it is, emergency reserves help you in case you get unemployed, tax-free growth or tax-favored growth in step six are just too valuable not to pay attention to. Step seven is the first step where you get to take a breath and say, “Wait a minute. Okay, all this has been cause and effect because of the tax policy or keeping myself out of the ditch. Now, how are we actually going to use this money?” And that’s where you get to take a deep breath and think about what’s the ultimate goal for this money. Do I have the right account structure that’s actually going to let me use that money in that way? And it’s kind of a way for you to catch your breath, know how you’re going to use the money before you start moving on to step eight, which is those prepaid expenses or abundance goals. And you once again get to think about how we’re going to be using that money, even if it’s outside of the boring stuff that steps one through six are.

Bo: That was a fantastic answer. If you’d like to know more, I’d encourage you if you’ve not picked up a copy of Millionaire Mission, it’s a great read. You can read through that chapter and actually understand it. Or if you want to do a deep dive on the Financial Order of Operations, go to learn.moneyguy.com. Go take the Financial Order of Operations course and actually see, okay, this is what went into it, this is how it was designed, because it kind of walks you through that level of detail for each one of the steps.

Brian: Yeah. And remember when we did the FOO course redesign last year, we gutted the price on purpose because even though we made it much much better and modernized and streamlined it, we gutted the price because we were trying to make it that much more approachable for everybody. We realize, hey, it’s not about the money we’re making off this, it’s more about getting more people in front of it.

Rebie: Exactly right. That’s great. Well, SPO 603, thank you so much for the question. Just email [email protected] if you would like a Money Guy Tumblr. Before we get to our “It Does Not Depend” rapid fire segment, I wanted to shout out some friends. Tomorrow your episode with Marriage, Kids, and Money is going to come out where you talk about FIRE. So go check out Marriage, Kids, and Money with Andy Hill. And then I believe on Sunday your episode with Iced Coffee Hour is coming out where you guys responded to some portfolios. Jack and Graham actually let us see their portfolios and got our opinions on them.

Brian: If you want to see what we did, and I mean, look, Bo was nice to them, but he also pointed out some blind spots that they might have. They asked for our opinion of what they’re both doing financially in their portfolios, and we gave it to them. What’s funny is that we’re still getting texts from specifically Jack. He’s very hot and heavy on a specific strategy. It will be interesting to see how it plays out.

Bo: Yeah. So really good stuff coming up from two fellow financial creators. And actually we have a few collabs coming up. I won’t give them away yet. But we’d love to hear who you think we should collab with next. It’s always fun to meet different people in the space even with different ideas. Sometimes it’s just fun to discuss and get to know them. And a lot of the time you guys have given us some really wonderful ideas. So let us know who we should meet and collaborate with.

Brian: I would love, because you know there are things like, I think about content creators that, like every Saturday I watch Disney Food Blog with AJ. I have been trying to forever figure out what collab thing I could do with her but I couldn’t figure out how to make it work. But I would definitely be open to creative collaborations that we should be doing because it’s good for everybody. You guys get to get introduced to somebody else who could hopefully add value to you, but then also we get introduced to their audience as well. So if you have any creative ideas, we’re always open to thinking about those things.

Bo: Yeah, it’s fun to hear what you guys are thinking. So I just wanted to throw that out there.

Rapid Fire: It Does Not Depend (38:55)

Rebie: All right, it is now time for our “It Does Not Depend” rapid fire segment where Brian and Bo collectively have 30 seconds to answer your financial questions and they cannot say the phrase “it depends” or they are out. And then at the very end of the rapid fire segment, we will move on to our “Maybe It Does Depend” segment where they can say any of the things they felt like they really needed to say but didn’t have time to. We are going to put 30 seconds on the clock and after I ask the first question, we will be off to the races. Are you guys ready? Why do you always look nervous?

Brian: I’ll answer the first question. Okay. Kind of like when you get a shot from the doctor, it only hurts for the first second.

Bo: Like the first shot only hurts, I was like, how many shots do you get when you go? Are you going first or am I going first?

Brian: I’ll go first. Get out of the way.

Rebie: Okay. Question one. Is there ever a case for investing in a fixed index annuity? If yes, when would this be?

Brian: Yeah. When interest rates are really above-average high and you’d like to protect a chunk of the portfolio because you don’t have a pension or some other cash flow thing that takes out the volatility.

Bo: For very super risk-averse investors who are terrified of any sort of market loss but they need to turn a pot of assets into an income stream, annuities, specifically immediate fixed annuities, can be solutions for people in that scenario.

Rebie: Next question. What’s your money vice? Something you enjoy spending on without a second thought?

Bo: Convenience. I am at the stage in life where if I can spend some money to have something done on my behalf or something done more efficiently, I love the idea of convenience. I love being able to buy back my own time.

Brian: Crud gadgets.

Bo: Yeah, but what’s the last gadget I bought? Your watch.

Brian: Oh yeah. I guess. Okay. You do love a good gadget. I buy gadgets.

Rebie: And that’s time. All right. Next question. Around what percent of your clients are on the FIRE path? What is the average retirement age you see? What’s it like in the real world?

Bo: I’ll be honest, a much fewer of our clients are true FIRE, like financial independence retire early and do nothing. We do have a lot of FINE people because they are such diligent savers that when they get into their late 40s, mid-50s, they now have the opportunity to either leave the job they have been doing or focus on their next endeavor.

Brian: Yeah. I would say most of our clients retire before 65, which is traditional. So I think a large percentage are before 65. I can’t think of any under 50 though. I have a handful. Okay, never mind. Disregard.

Rebie: Next question. Is Roth 401(k) always the move if you will receive a pension when you retire?

Bo: Yeah, I love Roth IRAs because of the tax-free growth and the legacy, there’s a lot of power with Roth accounts. I don’t like it when we say always, because I would say if you’re in a very high tax bracket, even if you have a pension, it would behoove you to save on a pre-tax basis, especially if you’re in the 30-plus percent tax bracket, because you get 30% tax savings this year even if you are going to have pensionable income later on.

Rebie: All right, next question. Is it worth it to participate in my company stock purchase plan if the discount is only 5% and the money is held for three months with no interest?

Brian: How much free money is not enough free money? You know what I mean? Because 5% is still free money. And even holding it for three months is still a relatively minimal amount of time. Without knowing the other circumstances, I would say the ESPP is likely still falling into step two of the Financial Order of Operations.

Bo: Well, also that 5% discount, is it before or, because a lot of times it’s the lower of either the beginning of the quarter or the end of the quarter. That might be enough juice to really push it over.

Rebie: You guys are getting very good at this. Well done. Crushing it. All right. Next question. Where is the best place to invest my money if I need to access it in five years?

Bo: I mean, five years is right there on the line. That’s probably going to be a balance of some index funds, but a lot of liquidity so that you can offset any crazy things that happen from a timing perspective.

Brian: I still think that right now the most attractive cash holdings are high-yield money market mutual funds. Most of them are paying somewhere between 3.4 and 3.7%. Inside of five years, that’s where I would hold my cash. It’s where I am holding my cash. With two seconds to spare.

Rebie: There’s more to add on that one potentially. All right, I’ll make a note.

Bo: But it’s hard because that gets into financial planning.

Rebie: Oh my goodness, you guys. Might as well say it depends. Okay, next question. Step eight. I’m in step eight. Have $220K in a brokerage intending to fund $100 to $150K of college starting in seven years. When and how should I start de-risking?

Bo: Just like we talk about putting money to work by dollar cost averaging, whenever I know I have some sort of goal that’s going to happen, I like the idea of reverse dollar cost averaging. So if I think that I’ve got seven years to do this, I may begin slowly backing down the risk on a monthly, quarterly, or annual cadence, depending on the basis, to get to that thing by the time I get there.

Brian: The only other thing I was going to say without saying the dirty word we’re not allowed to say is make sure you really are in step eight. That’s where step seven is for you to actually compare what you have to your goals to make sure you’re not derailed.

Rebie: One second over, but I’ll give it to you. Okay, next question says, “Money Guy team, what do you mean by graduating from target retirement funds? What’s next after that?”

Bo: Well, I think you get even more tax efficient with your investments because Roth, you love the tax-free growth. After-tax, you love the liquidity and access to it. And then tax-deferred, you know, it’s the least tax efficient. A target retirement fund is a generalized portfolio solution. Once you graduate past that, you move to a personalized, specific portfolio allocation meant just for you based on your income, account structure availability, goals, time horizon, risk tolerance, and risk capacity.

Rebie: That was good. Two seconds over, I’ll give that to you too. Next question. Should we calculate savings rate off of gross income minus daycare expenses if the daycare expense is large and makes saving 25% hard?

Bo: No, you should not subtract it off, but you should give yourself some grace. This is a period. This is a season. You may not be able to save 25% right now, and that’s okay. Go to moneyguy.com/resources. Check out our How Much Should You Save deliverable. Even if you’re young and you’re not saving 25%, there’s a good chance at a lower savings rate you still get where you want to be later in life.

Brian: That’s why we like the gross is because it doesn’t let you do any of the what-ifs that a lot of people do. People hate that we use gross, but it’s specifically for these purposes.

Rebie: Right on time, even with the speedy talking. Man, if anybody’s listening at one and a half or two times speed listening back.

Bo: I mean, I felt like I just transformed myself into the micro machines disclosure. That was only the last seven or eight seconds. I’m good for the first like seven seconds.

Rebie: All right, next question. Should I combine retirement accounts from old employers or leave them be? And why?

Brian: Go to moneyguy.com/resources. We have a great flowchart for you to answer a few yes-no questions and you’ll know the specific answer for your situation because it does have variability.

Bo: Four things you can do when you leave an employer. You can cash it out. Don’t do that. You can leave it where it is. You can roll it to your new employer. You can roll it to an IRA rollover. The deliverable Brian just said will walk you exactly through how to make that decision.

Brian: Well done, man. That resource really did the heavy lifting on that. Moneyguy.com/resources. It’s going to ask you yes-no questions that take out the “it depends.”

Rebie: All right, last but not least. What do you guys like to do on your days off?

Bo: I mean, me and my daughter like to do errands, whether it’s washing cars, going to pick strawberries, whatever fruit is available. That’s what we like to do on the weekends.

Brian: Yeah. On days off for us, it’s family time. We are still very much in the messy middle. So we’re spending a lot of time at the pool right now, hanging out, doing that, being outside, going for walks, trying to drink in these kids’ youth. My oldest is about to be 11 and I’m like, “Holy cow, that’s like seven more years, seven more summers, seven more Christmases.” I also appreciate that my wife does a usually once-a-week date night plan where she puts together something with a neighbor or a friend and that’s pretty cool too.

Rebie: Very good. Well, that concludes our “It Does Not Depend” rapid fire segment. Thank you for your submissions and questions. Let’s now go into our “Maybe It Does Depend” segment where we can talk about all the things you didn’t get to say.

Maybe It Does Depend: Deeper Dives on the Rapid Fire Questions (48:45)

Brian: Can I go back to question 12, because even my own mom, when she had a bunch of family in town for graduation, she asked, “So, do you and Bo hang out on the weekend?” And I’m like, no, but we don’t, not on purpose.

Bo: She goes, “Oh, so y’all don’t like each other?” And I was like, “Mom, we hang out like every day for hours.” And a matter of fact, my productivity gets killed because I’m in Bo’s office talking all the time. But on the weekends, we typically are doing independent stuff. And it doesn’t mean that we don’t, we don’t avoid each other on purpose.

Brian: Yeah. Like I would still, but what’s funny is Bo and I have vacation. And you should know I didn’t even tell you this so it’ll be on air, we’ll be the first. My wife was talking, because we were on a trip just me and her last week and she’s like, “We ought to once a year do a trip with Bo.” And I was about to say your wife, but she was like, “Just because that would be really good to make sure that we, because we do get busy doing so many things that sometimes I feel like we don’t do enough stuff out of the office.” I’m for it. You heard it right here. We’re going to do it.

Rebie: They do indeed like each other, in case there was any question. All right. We did ask a question about what’s your money vice and I believe we ran out of time. And Brian couldn’t think of anything.

Brian: Well, you know what? I should have said theme parks. Theme parks are a huge money vice for me. You love cruises too.

Bo: I do like cruises as well. You can take your family, that’s a big fun generator. Yeah, you will go for that. I think sometimes, and my wife, God bless her, those things, if you think about it, I am definitely a stimulus seeker and so is our youngest daughter. So we love high volume, high energy stuff all the time. And my wife is like, “Oh my gosh.” That’s why I think she loved that we went to the beach last week. Meanwhile, after day one, we didn’t get in a fight, but she was definitely disappointed because like, “Tomorrow we’re going to have to find something else for you to do,” because I could only hang out on the beach for one day before I start twitching.

Rebie: You’re not like a sit-under-the-umbrella-and-read kind of guy.

Bo: No, I just sat there and watched the water go in and out and then I was like, “All right, all right, this is pretty cool. What time is lunch?” You know, it just, I don’t know. In and out.

Rebie: Do you like to snorkel and stuff? Is that a thing you do or no?

Bo: Well, yeah. I mean, I don’t have a problem doing it. It’s just that water was a little chilled. I didn’t think it had enough sun on it yet in the season. Because I’ll tell you, down there at the equator a few weeks ago, it was perfect. So that’s what we did. We were like, hang out and go snorkel and go do that.

Brian: No, I do like, because you know a few years ago we went on a catamaran in the Grenadine Islands and I love, actually it’s one of the only vacations that I lost weight on. There are other reasons too, but it was a lot of great snorkeling.

Bo: We’ll just leave that up to your imagination.

Brian: All right. Don’t do a catamaran trip like I did with a small small small catamaran. Oh my goodness.

Rebie: Okay, moving back to personal finance. There was another question you guys kind of kept talking on. I stopped you about what age your clients are retiring. Did you have anything else you wanted to say on that one?

Bo: Oh, what does FIRE look like in real life? Was that the one? Yeah, you were saying, because I said we don’t have any clients really under 50 who are retiring.

Brian: Well, I do. We actually had someone in the chat say, “Hey, I’m a client. I’m under 50.” No, no, no. That’s how we met.

Bo: People that are like truly pursuing FIRE, like I want to work aggressively for 10, 15 years and be out of the workforce forever, what we most often have is we have a lot of very high earners, very esteemed folks who want to do sabbaticals. Hey, I want to take a year off, take two years off. We have a number of clients that have done that a number of times now.

Brian: I’ve got a client buying a Sprinter van right now.

Bo: Yeah. And then we have some that are like, hey, I’ve reached financial independence. So now I get to choose what I do with my time based on what I want to do, not what I have to do. For some people, it’s continuing the same job because they love it. For others, it’s shifting and volunteering or doing family stuff or whatever that thing may be. We do have a lot of folks that fall into that camp, but it’s because they figured out saving early and often. It’s given them flexibility and options later on in life. So do you think that by definition there are a lot of FIRE-like people retiring before 65 or going to their next endeavor before 65, but maybe they’re not that traditional idea of like I’m FIRE and I’m saving 60% of my income?

Brian: Yeah. Like it just looks different. I don’t think I have any people in my ecosystem that have young children that are like fully checked out and done working. Do you know what I mean? Like maybe older high school, college age, but like I don’t have any FIRE people pushing a stroller who are done. I’ll ruin it for everybody because this is what you ought to understand. If the ideal is you get as much money as you can at an early enough age so you own your time that much sooner, I think you’ll find out that most people, when you get to the point that money is nothing but just a tool that you’re using, it’s not something that controls you having to wake up to go to work anymore, you’re still going to want to wake up and know what you’re doing is having an impact in the world. At least that’s what I have found is when I got to the top of the mountain and realized, oh, I have the level of money that I always thought I wanted, it’s not as cool as you think, that you can just go buy anything. You need to have purpose. You need to have your why. There’s more to it than that. And that’s why I think a lot of people don’t actually just completely tap out, because that seems not as cool as you think it is too. I think a lot of us have that daydream because you’re stressed out, you don’t control and own your time yet. My dad used to, when we’d be riding down the street and he’d be like, “You see that guy mowing grass on the interstate? I wish I had his job.” We all fantasize in some way to take the stress away. And that’s why I try to give you the tools to go own your time that much sooner, because when you truly do things because you want to and you have the power to say no to anything and everything, it just hits differently. That’s not really tapping out. It’s just owning your time that much sooner.

Rebie: Yeah, that was good. I also had a note to come back to. Where is the best place to invest my money if I need to access it in five years? Did you have anything else to say?

Bo: I thought the thing about keeping all my liquid cash in a high-yield money market mutual fund right now is the best place, and that’s where I keep my sub-five-year goals. But you said there was more you wanted to add to that.

Brian: Well, I was just saying sometimes when you have a sinking fund or something where it’s like five years in the future, you probably could put 20 to 30% of that into index funds depending upon your risk variance or how hard it would hit you if all of a sudden you needed that money and it was in a downturn. You could try to juice things a little bit. I mean, think about some of our debt goals. You and I have some commercial real estate debt we’re paying down. We’ve put some of that money into the market for sure, even though we know it’s coming up in the not too far future. So there’s nothing wrong with having a balanced approach to try to take advantage. Now, with that said, if we get within three years of when we think we’re paying off this debt and the market’s at all-time highs, we might start winding it down. Because remember, pigs get fat, hogs get slaughtered.

Rebie: The only other thing I had was about should you do Roth 401(k) even if you have a pension. I think Brian, you wanted to add more there.

Brian: Roth is my favorite child. I know as a parent you’re not supposed to name your favorite children, but of all account structures I love Roth. Should I only invest in Roth 401(k) if I’m going to have a pension later on? Yeah, wow. We were speaking a different language there. Should I only invest in Roth 401(k) if I’m going to have a pension later on? I said, hey, if you’re a really high-income individual, even if you are going to have a pension, I think there’s merit to getting the current present-year tax benefit, doing that, because you can just do Roth conversions down the road. But I just didn’t want to poo-poo on Roth dollars because they are my favorite children.

Bo: Well, we would never poo-poo on it, but I think the word “all” was in there, right? Like this exclusivity. If it makes sense to do all Roth, for sure. But the time when it doesn’t make sense to do all Roth is if you’re in a very high tax bracket. Roth can be costly. And so I would still think about maybe maxing out the pre-tax and then doing some backdoor stuff and that sort of thing.

Rebie: Well, that concludes our “Maybe It Does Depend” segment. You want to do one more?

Brian: I say that was our best one.

Rebie: Really?

Bo: I, you did pack a lot of meat into that rapid fire. Really good.

Brian: Not to toot our own horns, but oh yes. Let’s do one more question before we close this thing out.

Q&A: When Are ABLE Accounts Appropriate for Families With Disabled Children? (58:21)

Rebie: This one says, “Brian has mentioned ABLE accounts in the past, but only briefly. When are they appropriate and when are they inappropriate? We may be eligible to contribute, but if we become ineligible, it seems bad. Do you have anything to say to them or point them to?”

Bo: Before you answer that question, because I think it’d be helpful for you to explain what an ABLE account is and how it operates.

Brian: What Bo’s alluding to, we have a great resource. By the way, if you have anybody who has a special needs child or developmentally challenged child, we’d encourage you to go to moneyguy.com/resources. We actually wrote an ebook and we originally were going to sell it, but then we said no, no, no, this is too valuable. So we’re just giving it away. So if you just go out there and check it out, it’s not going to be the ultimate end-all, but I think if you’re just on this journey and you need something to kind of give you some overviews of some very key important concepts, go out there please, because that’s what the heart of this when we designed it was. Because I’m on this journey myself. You’ve heard me talk about it in Millionaire Mission. I’ve talked about on the show, I don’t have to save for one retirement. I have to save for essentially two retirements, because after I leave, whatever I have saved up or built up also has to provide for my youngest daughter.

Brian: I like ABLE accounts because the way these things were designed, years ago they came up with 529s to help pay for college. Congress got together and said, “Hey, we need to incentivize families to be able to afford the rising cost of education. Let’s come up with 529s.” And the way that structure was is that however you put money into these 529s, if you used it for qualified education expenses, it would be completely tax-free when you pulled the money out. Well, then somebody in Congress said, “You know what? That 529 program worked out so well. Let’s use the same code section, but let’s make it for families who have disabled children or family members.” And they started off and it was a pretty tight qualification, but they’ve actually unbundled that and made it even easier to qualify. I think originally it was like under 26. Now they’ve pushed that up into the 40s. Or beyond. And then also if your disabled child had earned income, that would limit you to some degree. They’ve lifted that out to a degree. But the way these things are going to work is that you can put money in now, you don’t get a deduction or anything, but they do grow completely tax-free and if you use it for qualified expenses, which is pretty broad for disabled individuals, you can pull it out completely tax-free. And up to the first $100,000, it’s not going to disqualify you from Social Security and other federal benefits you might be entitled to. Now there are limits. What I found is that when I started funding this, there was a state limit to how much these accounts could grow. But they’ve been indexing that for inflation and I haven’t run into an issue. I have pulled back to a degree because now I’m doing more complicated estate planning, and there are limits, and that’s why you’ll need to work with your specific situation. But I think for most people it’s a pretty good while before you have to worry about that. And there is a website, I think it’s ablerc.org. If you go check it out, that great website will let you go state-specific because there are different rules depending upon, just like 529s are state-specific, ABLE accounts are state-specific as well. So you need an aggregation website that kind of gives you an overview. And I’m very proud that the state of Tennessee was one of the front-running states, very proactive on it, and I’ve been very pleased with their plan.

Rebie: Did that help?

Brian: Yeah, that was awesome. It was great.

Rebie: Tim, thank you for the question. If you would like a Money Guy Tumblr as a thank you, email [email protected]. We’d love to send you one. And for anyone curious about ABLE accounts and more of the things that Brian was talking about, remember we do have that deep-dive ebook for free at moneyguy.com/resources. By the way, somebody turn on the bat signal. I hear that Aaron Talks Money was in the room too. So she heard we were talking about collaborators and she’s like, “Oh, let me get in there on that.” She must have. I said, “Aaron, some folks were saying we should collab. What do you think?” And she said, “Yes.” Oh, that’s a great idea. Exclamation point.

Bo: We should do that. Y’all are so bad at this.

Brian: We should do that, yeah. It’s a great idea actually. I think we should talk about that. So spontaneous. And look, if we happen to collab with Aaron, the way that you’re going to know about it is if you’re subscribed to the channel right now. If you have not subscribed, if you’re just renting your seat, make sure you click that subscribe button. So when we have new content come out, by the way, the only thing that comes out on this channel is new and original content. So you will not get overrun. You will not get overloaded. Make sure you subscribe so that one, we know you’re out there, and two, you can get updates when we have exciting new fun cool collabs coming out. Last 28 days I think 48% of our traffic was still unsubscribed.

Bo: That’s only half of you. That’s only 50%.

Brian: But that does mean glass half full, 51% are returning. That’s true.

Closing (1:04:17)

Brian: The majority, guys, there is a better way to do money. And we try every day to pour into you the better ways to even look at this tool, because it does have limits to what it can and cannot do for you in your life. And we just try to help you become the best version of yourself, and also own your time that much sooner, because we really do want you to live your best life. I’m your host Brian, joined by Mr. Bo, joined by Rebie and the rest of the content team in the wings here. Money Guy out.