The BEST and WORST Cars for Financial Mutants (And Which Brands They Avoid)

Introduction – Car Buying Crisis and $1,000 Payments (0:00)

Brian: This ought to be interesting. The best and sadly worst cars for financial mutants.

Bo: And Brian, I am so excited to talk about this because for a lot of people, an automobile may be one of the most expensive things that you ever spend money on. And for most people, you don’t just do it one time in your life. You do it over and over and over. And it’s not just that we want you to buy a car the right way. We talk about that all the time. We want you to do it right, but we even thought we want you to buy the right car because in our opinion when it comes to automobiles, especially when you say that they’re like napalm for your finances, not all cars are created equal.

Brian: Well, I think it’s crazy because we all see this trend. We even reacted to it in some of our react videos where a lot of dealerships and others were posting their car payments as a point of pride. And it was over $1,000. I was like who is doing $1,000 car payments? Well, we come to find out one in five people now, it’s common. It’s just way too comfortable have $1,000 car payments. And I thought it was interesting. I’ve never went and financed a car.

Bo: Even when I was younger and I was making not the best financial decision, I was one of those people that graduated and I got my first big boy job and I went out and bought the car that was way nicer than I should have bought. But even that payment was not $1,000 bucks. Once you have a comma in the car payment, that’s just sort of a different realm. And far too many people have gotten comfortable with that. But there’s also sort of this caveat, right? So, I think people are spending too much on cars, but buying too cheap of a car can also be a problem because we see people say this, “Oh, I’m going to go out there and buy a $1,000 beater. I’m not worried about having a $1,000 payment. I’m going to spend $1,000 in total.” And I think that neither one of these are necessarily correct.

Brian: Well, I mean, look, we’re nerdy enough there’s a better way to do money. We actually backed into to even afford a $1,000 car payment. You realize that puts you in a situation if you use 20/3/8, you’d have to make over $150,000, like double the median household income. That’s just not happening. So, we were thinking about, hey, well, let’s talk about what do people who are good with money do? And we’re like, well, we have the perfect resource. We have our millionaire clients. We went and asked them. We said, hey, your current car, how did you pay for it? Did you finance it? Did you pay cash for it? And you can quickly see that the majority actually paid for it. 60% paid straight up cash for it. But there was 40% that financed. But then we modified the question. We asked another one to follow up and said, “Hey, how about that first car?” Because we know to get to that J-O-B, that first wealth-building opportunity. A lot of us need reliable transportation. Exactly what you said. We don’t want the $1,000 beater, the $5,000 beater. And we found that 72% of our clients actually financed their first car. They weren’t able to pay cash. So that’s why I do love the thoughts of following something like 20/3/8: 20% down. Don’t go longer than 3 years. That’s going to keep you conservative on that and don’t exceed 8% of your gross income.

The Luxury Car Reality Check (3:13)

Bo: Now this is where I think our take is going to deviate a little bit from some other creators because you hear us say all the time that automobiles can be financial napalm. They can blow up your financial life. But here’s what I want you to hear us say and maybe this is the first time you’ve ever heard us say it here. We’re also not anti-luxury car. We’re not anti buying a car that you like. We’re not even anti you quote unquote being a car person so long as it’s done at the right time at the right stage. I think far too often people jump into it way too early, not recognizing the opportunity cost of that decision to buy that nicer, more expensive car today is huge when you actually see what that cost you over the long term.

Brian: If only there was a better way to do money. And this is what we talk about all the time. Step eight is your friend when it comes to making these big lifestyle decisions.

Bo: So, we were talking about cars. We’re talking about this stuff. And Rebie said, “All right, well guys, I think in true Money Guy fashion, let’s play a little game.” So, you came up with an idea. You want to play a game and me and Brian are always open to your the team came up with a game that we’re going to play.

Brian: Do we have on-air hands that are going to come on and pinch you?

Bo: Why?

Rebie: Oh, because I’m not wearing green and it’s really we noticed this right before we went live. We’re like I stared at my closet going I don’t really own you barely have any green on.

Brian: A little, that company went out of business I think. So I mean this is how old this shirt is. How little green.

Rebie: But somehow I honestly forgot. I’m also not Irish so sometimes I forget. Sorry.

Brian: Is that you have to be Irish to wear?

Rebie: You don’t have to but you know.

Brian: Top of the morning to you.

Bo: Nailed it. We’re going to need to clip that one.

Cruise or Snooze Game – Rating Car Brands (4:59)

Rebie: This is everything to me. Okay. Well, we do have a really fun game queued up for you. It’s called Cruise or Snooze. So, I am going to name a car brand to you guys and you give me a thumbs up for cruise, a thumbs down for snooze. Basically, is it worth the money to you? So, some opinion is going to come into play here. And then you’re welcome to give me a quick reason why you would or would not buy.

Bo: Any context? Is this for a brand for a young person buying a car for someone who’s what step of the FOO are these cars or this for ourselves or is this just in general?

Rebie: Okay in general, thinking if you heard your friend was buying this would you be like oh okay or would you be like they should consider this. Okay cruise or snooze? All right brand number one, BMW, cruise or snooze. I mean they both said snooze. Give me a sentence why.

Bo: Every single repair is so unbelievably expensive. Like you take it in for a thing and you’re one comma in every time.

Rebie: Yep. I mean, I think this is the car that people who are in their 30s who are trying to impress people use a BMW. And truthfully, in my neighborhood, if you drive a black BMW X5, you might as well be driving a Honda Accord in my neighborhood. There’s at least 26 of them, I feel like, in my neighborhood.

Rebie: Yep. Exactly. All right. Good takes. Good takes.

Brian: I like that we use the Jurassic Park version, too. Well done, Caleb.

Bo: New Jeep or old Jeep and daily driver or just owning a Jeep?

Rebie: Just owning a Jeep.

Brian: I mean, this is going to look, I would never ever ever ever buy a new Jeep, but I love used Jeeps. I do love Jeeps. I had one for many years. If I wasn’t blessed with just daughters and a wife that don’t like their hair blown, I would still own my Jeep. I sold my Jeep a few years ago.

Bo: And the only reason I say snooze is it’s fairly impractical for a family vehicle. Like this is an extra recreational for a daily driver. I’m a snooze on a Jeep being a daily driver after you’ve kind of started doing the family stuff.

Brian: Hey, look on the used Jeep side. I owned that car for like 12 years and I think I made $1,000. Now profit, really make $1,000 because you think about I put like three or $4,000 rims on there. I put a subwoofer in the back. Anything a 16-year-old wanted, I put on that Jeep. It was an awesome Jeep. It was pretty kicking. Every time I went through a Burger King drive-thru, they were like, I like your kicking car. This is the affirmation I so wanted when I was 16 and I was driving around in that beater of a car. This is what I wanted to feel like. So I did it as an older man.

Rebie: All right, next brand. Another personal one. Tesla. Cruise or snooze?

Bo: I see what y’all are doing. Snooze.

Brian: Come on. You know I love me some Tesla. They both said Cruise. No surprise to me. I’m surprised you didn’t want to hit me.

Bo: He may just be like, “Hey, you know what? I want to be true and I want to be truthful. I do think Teslas are wonderful automobiles for people that it makes sense at the stage and the kids and all that kind of stuff. They’re a really fun car to drive. I do not presently own a Tesla, but I’m going to say Cruise on the Tesla.

Brian: I will tell you there is a I always look for crazy arbitrage moments because Tesla’s depreciate a lot.

Bo: Save it. Don’t talk about that yet. We’re playing a game. We’re playing a game.

Brian: Sorry, the educator in me just has a hard time going to sleep.

Rebie: Next brand is Land Rover Cruise or Snooze.

Bo: Is my wife going to watch this episode?

Rebie: You have to decide that for yourself, Bo.

Brian: I mean, I think these things are horrible.

Rebie: You both say Snooze, but I gotta be honest, they’re so cool.

Bo: I mean, yes, in my financial mutant mind, I’m a snooze, but man, some of them are so cool looking.

Brian: Have you read a Consumer Reports? But man, they look cool, right? If I was ever going to have one of these things, by God, we would rent that thing because there is no way I would want to own something that costs this much money to maintain.

Bo: A lot of money to maintain. Not wrong.

Rebie: All right. Next brand is Kia.

Brian: I don’t know enough. I mean, look, I rent cars and I’ve had Kia and I’ve had Mazdas. I mean I don’t know how good they are in the long term.

Bo: Is the Telluride a Kia? That’s a Kia. Oh I have a bunch of family members. It wasn’t quite big enough for my family but the Telluride was nice. I’ve gone on a few trips in them.

Brian: I mean I’m kind of in between because I don’t know how reliable they are. I haven’t renewed my subscription to Consumer Reports to keep up with how well Kia does.

Rebie: All right. Next brand is Nissan. Bo says snooze.

Bo: And this is hard because we live in their backyard. Like this is where Nissan headquarters. This is a little close to home. Brian, what do you think?

Brian: Come on. I think that I think they struggle with some reliability issues.

Bo: Yeah, we went and looked at them when we were car shopping and there just some other brands I’m sure that we’ll talk about that just didn’t beat them out. And so for that, I think the way I’m doing this is would Bo Hansen buy this car? I probably would not.

Brian: I feel like we’re kicking them while they’re down, though. A little mean.

Rebie: This is just a fun opinion. Okay. It’s all right. It’s okay. You guys are so nice.

Bo: I’m looking at the comments to see how many people we just offended.

Rebie: I doubt it.

Brian: Now if it was a Maxima, I’m just kidding. That’s what I wanted when I was in high school. We all did. That was the cool car.

Rebie: Next car brand is Rivian.

Bo: Snooze. Oh yeah. Yeah. Yeah.

Rebie: Wait, you both okay, you both said snooze. Brian fooled me there for a second, but you both said snooze. Why?

Brian: That’s because I was looking at what side I could see it. I remember. Oh, no. We’re broadcasting.

Bo: If you’re going expensive electric and you’re why would you go Rivian over Tesla is my opinion.

Brian: Well, I mean, there you go. If Elon would have gone a little more reasonable on the truck design. I mean, because I will say I have a friend who has a Rivian and it’s pretty cool. Like, he stores his golf clubs right behind the there’s a cargo area right there behind the door, which is pretty cool for golf clubs and stuff. But I just worry that I do think from an electrical standpoint, Tesla’s got the advantage on some of that stuff, especially full self-driving, bomb diggity. Pretty awesome.

Rebie: All right, great. We’ve got just a few more. So, keep us posted in the chat if you agree, disagree, or want to fight with Brian and Bo. I want to know. The next brand is Volkswagen Cruise or Snooze.

Brian: Wow. We dug deep. I mean, I’ve just never I’m just not a German engineering like, you know, I have a friend who only buys Audis. That’s not me.

Bo: I think this falls into the high cost maintenance category because I think aren’t Volkswagens hard to work on? Like, isn’t it hard to find someone who works on Volkswagens? Isn’t that a thing?

Brian: Easy.

Bo: Well, Brian, this isn’t back in the day.

Brian: You talking about Germans are known for overengineering everything.

Bo: Yeah, I’m a snooze on I’m a snooze on VW. Fantastic branding back when I was in high school.

Bo: Like high school. Remember when they had all the branding?

Brian: Fahrvergnügen.

Rebie: What?

Brian: Ain’t that what the branding was back when you were in high school?

Bo: No, it was like all the multicolor bugs. You know what I mean? That was the thing.

Brian: Somebody in the comments be like, “Holy cow, Brian goes deep.”

Rebie: All right, next brand is Mercedes.

Brian: No, that one’s easy. Ah, that was easy.

Rebie: They both immediately said snooze. Why do you say that?

Brian: Just expensive to maintain as well. I don’t even think, you know, they had that whole thing where became part of Chrysler and so forth. I think they’ve always struggled with some reliability and I don’t even know if I mean, I guess if you’re a Formula 1 fan, you love Mercedes and what they do, but it’s just not a brand that I’m super into.

Bo: As a former Mercedes owner. You heard it first here.

Rebie: I was going to let you reveal that.

Bo: My wife did have the Mercedes SUV. It was fine, but just if you’re going to buy a luxury automobile, if you’re going to make that bad decision, I’d make that bad decision on some different brands than Mercedes in my opinion.

Bo: Just didn’t why didn’t we go hit the easy button on? By the way, if y’all want to know how much control Bo and I have on, these would not be I would have been like, “Where’s Lexus? Where’s Toyota? Where’s Honda? Where’s those type of things?”

Rebie: Oh, come on. This is fun. All right, two more. Two more. The next one is Volvo.

Brian: I mean, like, let’s see how many people we can upset.

Bo: You know what? Aren’t they the safest? Well, okay. Cruise.

Rebie: Brian says snooze. And we have some I think you’re firing some people up in this room on our content team. So, please explain.

Bo: Look, Volvos are not my favorite. I’ve never owned a Volvo, but I feel like I’ve heard that they’re pretty reliable and they’re super safe. I don’t are they expensive still? They used to be expensive.

Brian: You rely now look, it’s been a while since my Consumer Reports was all updated, but weren’t they trying to master a five-cylinder engine or something? They were doing crazy stuff with their cars that just created some weird reliability when they were trying to go for more efficiency. So, I don’t know, maybe they’re reliable, whatever. But I’m also probably jaded because my wife, you know, back in the day, you wanted the Volvo station wagon, and I remember my wife was so anti that from the get-go that it’s probably jaded me over the years.

Rebie: All right, last but certainly not least, and now I’m hoping I’m saying this correct. Winnebago. Winnebago.

Bo: Winnebago. I was like, I don’t remember. I’ve only ever read this. Winnebago. Wasn’t prepared. Get out of here, Bo. Winnebago.

Brian: I thought all homeschool kids knew RV camping.

Bo: I think that I actually I mean clearly I love the homeschoolers but sometimes you’ve only read things and you realize you haven’t heard them pronounced because you’re yeah, but I thought like growing up, have you not been in a camper like that?

Brian: Have you ever heard the term have y’all ever heard the term unschooling?

Bo: I have heard it for the first time at the state park this weekend. That’s something different. What’s unschooling?

Brian: I’ll save it for later on in the show. But remind me. Anyway, what do you think of this camper van? Cruise or snooze?

Rebie: They both said snooze.

Brian: Look, if RVs are your thing, that’s great. They are not my thing. I’ve rented a few. I mean, I remember we went to a Jeep Fest back when I had a Jeep and we rented a camper. Everything’s made out of plywood. So, and look, I’m just I’m the type of person because it has to be light because this thing moves every night. I break everything. Everything’s just not set up to we’re too big. I felt like Shrek. You know, you close the bathroom door like, “Oh, I just broke the latch.” You know, it’s just like, “Oh, no.”

Rebie: Doesn’t know his own strength. He’s too powerful for this camper van.

Brian: I don’t think I’m made to be an RV. Plus, look, I will say I tried to rent an RV. I had this idea. This is probably six years ago. I had this great idea that we were going to rent an RV, drive across country, drive to the park, see my family, and then we were going to fly home. We were going to rent this thing and then fly home. I thought I was a genius. My daughter who’s about to graduate college but she was in high school at the time and she’s like dad I’d blow through your data plan before we got out of the driveway. So I don’t think that’ll work.

Car Brand Superlatives (16:31)

Bo: Obviously these were our thoughts, right? These were the thoughts on what do we think about brands, but you know there are some other authorities out there and just some honorable mention things that we thought were worth bringing up and bringing your attention. Here were some superlatives that were given out in terms of automobiles that depreciate the fastest according to U.S. News and World Report. This is we’re not playing the game anymore. You just disagree with this. They said that Tesla is the car that depreciates the fastest. As someone who’s a big advocate for Tesla, what would you say to that?

Brian: I would say this glass half empty problem actually creates a glass half full opportunity. Go buy a used Tesla. I mean, obviously pay, do your due diligence research on batteries and so forth and knowing. I also would tell people if you go buy a used Tesla, go make sure you understand what hardware package is on that car because full self-driving has gotten so legit, but you probably want to get the four and beyond on the hardware package so that you can really get all those features.

Bo: Love it. All right, the next one was what car brand in general holds its value the best? Toyota. This one was not surprised. This is according to Kelley Blue Book. I am currently a Toyota owner and it’s true.

Brian: Let’s see how he drops that. I mean, I’m good at this. I’m good with this thing called money.

Bo: Yeah. Brian owns the one that depreciates the fastest. I own the one that holds the value the best. It makes total sense. Toyota, not surprising. One of the best long-term holders of value. If you’re someone who drives your car for a long period of time. Safety and reliability. Subaru actually came in. I’ll be honest, Brian, I don’t have a ton someone in the comments said, “Hey, why didn’t you mention Subaru?” I haven’t I don’t have a ton of exposure because they just weren’t super common down here.

Brian: Well, I remember I always thought about Subaru whenever me and my boys back in high school used to drive or even college go hike up in the Appalachian Mountains up around the Blue Ridge Mountains and they would only let you drive and this is back in the 90s, Quattro I mean or four-wheel cars or all-wheel drive cars was not as common as is now. It was always the Audis and the Subarus were allowed because they wouldn’t let you over a certain part in the road unless you had you could show that you had four-wheel, all-wheel drive. Got it. And that’s why I think of Subarus as supposedly great for that type of weather. We live in the south, so that’s why you probably don’t have exposure to it.

Bo: And then the last one was what is the best brand to buy used? Now, you may think that Tesla’s coming up because that’s what Brian just said that he would recommend is buying a Tesla used. But actually, the best brand according to Consumer Reports to buy used is Lexus. And I don’t hate this one either because I think if you’re going to go luxury and you don’t want to go Mercedes or BMW, one of those, I’m actually a huge fan of Lexus. I think that’s a great luxury if you’re in that stage. Now, it does still count as luxury. So, no 20/3/8 on that one. I think Lexus is fantastic, but I’d say don’t buy it new. Don’t pay for all that front-end depreciation and buy one a few years old. I think that makes tons of sense.

Brian: Yeah. I mean, the car that kind of made me I feel like was my I bought an ES350 in 2006 because no, it was 2006 because it was a 2007 that I bought in 2006 because I loved that I got a free year essentially because they redesigned the body style that year and I drove that car for 12 plus years. And I had not a lick of trouble. I don’t even think it had a warranty claim on it whatsoever until they replaced the airbags if you remember when Lexus went through all that crazy stuff, but it was a great car. So I can I don’t have anything negative to say about that. And those two, by the way, you know, they’re related, Lexus and Toyota. I’m surprised that Honda I was surprised Honda didn’t make any superlative either because again, I’ve always had wonderful experience with that.

Key Takeaways – Buying the Right Car (20:19)

Bo: And so here’s what we want you to take away from this. Obviously, we talk all the time about buying a car the right way. We want you to do 20/3/8, 20% down, don’t finance for any more than 3 years or 36 months. And we don’t want your car payment to be more than 8%. But also, the kind of car you buy matters. Don’t go out, contrary to some other opinions, going out and buying a $1,000 car may not be the best financial decision. There has to be likely somewhere in the middle that could potentially make sense. So, when you go to make the car purchase, don’t just make sure you’re doing it the right way. Make sure you’re buying the right thing because the better the decision you can make, the more impact it’s going to have in your financial life over the long term.

Moneyverse Discord Announcement (21:02)

Brian: I think this made me feel a little loved because no, we didn’t do that. Also, I hear while I was on vacation, y’all came out and decided, you know what? Marvel’s got this whole multiverse. Why don’t we come up with Moneyverse? I love it. It sounds like, you know, I was feverishly because I just came back from vacation, so I haven’t caught up on everything. I was trying to get myself in this thing before the show. I ran out of time. The buzzer beater because I realized, holy cow, I’ve got my mother’s maiden name and my pet names and everything else you grew up on. All the things you don’t want the public to see. I had in my original Discord setup.

Bo: So, I didn’t have enough time to get it all set up before I was able to wade into the waters. I have, you know, we’ve been this is what, a week old now. It’s been incredible. I’ve loved being in there. Can we get a quick poll for our audience right now, guys, of just yes or no? Have you been in the have you been in the Moneyverse, right? Because I want to know how many of you guys out there. It’s awesome. And if you’re not familiar with what it is, it’s the ecosystem where we get to hang out 24/7. We can ask questions. We can celebrate milestones. We can chat. There’s all kinds of amazing stuff that we’re able to do and we’re able to stay connected. You guys may be wondering, well, man, are Brian and Bo and Rebie and the team going to be in the Moneyverse? Absolutely. It’s turned into my new little guilty pleasure that when I’m just on my phone, I’m not scrolling through social. I’m scrolling through the Moneyverse.

Rebie: Yeah. If you post in the finance questions channel, I mean, there’s no guarantee Bo will be in there answering you.

Bo: But there’s a good chance he has been. There’s a good chance I’m going to be a lot. So, definitely take advantage.

Brian: Bo, you spoke big words this morning. You said because Brian knows I’m out there on X getting ticked off at the world because there’s just so much craziness in the world these days. Bo says I predict that this Moneyverse is going to take the place of how much time you spend reading news and stuff like that.

Bo: Well because a lot of times on YouTube in the comments and stuff you don’t know if you’re talking to your people or not your people, right? People kind of come in or whatever. What I love is that if you’re in the Moneyverse, you probably are a financial mutant and you would be hanging out with financial mutants. And so it’s an awesome spot. So if someone wants to go get in that Discord, be on the server, where do they go, Rebie?

Rebie: Go to moneyguy.com/moneyverse. You guys have blown me away with how active you have been in there. We’re posting weekly surveys and discussion points, and honestly, you guys are crushing it. You are answering each other’s questions. You are discussing what’s going on in your financial lives, and that was exactly what I was hoping would happen. So, it’s really cool to see all the connections being made and just get to chat with you whenever we want to honestly, which is amazing.

Brian: We I literally just have seen a sliver of this because you did a screen share earlier this morning in the content meeting and people posting wedding anniversary photos and stuff and I was like, “Holy, this is a really cool way to connect.”

Rebie: Yeah, we had one fellow financial mutant this morning post in milestones that he crossed millionaire time and so it’s cool to see it in real life and be able to say we’re so excited for you in the chat.

Bo: And look, I’m not saying that we’re always going to tell secrets and give away stuff a little bit early, but if you go out in the Moneyverse, it’s just a little bit more comfortable. We get to share some stuff. So, there’s some stuff out there that we get to talk about that I think you guys would love.

Rebie: Yeah. Brian was basically channeling his Brian Preston like yeah, because I don’t keep secrets. I just let some stuff out of the bag. Rebie messaged me separately and was like, “Can I post this?” And he didn’t give anything away, but he hinted at something. And I’m not telling you where it is or what it is, but he was hinting at things. So, you’re probably going to get that in this Moneyverse for sure.

Live Q&A – Paying Extra on 6.4% Mortgage at 34 (24:43)

Bo: So, I love that we get to talk about, okay, how to make good financial decisions. I love that we get to have this Moneyverse where we get to interact with our people, but I also love that we get to show up here, Brian, every single Tuesday at 10 a.m. and answer your questions and load you up with the things that you care about. So, right now, if you have a question you want us to weigh in on, we have the team out in the wings collecting those questions, make sure you get them in the chat because we believe that there is a better way to do money and we want to answer the things that you care about. So, with that, creative director Rebie, I’m going to throw it over to you.

Rebie: We’re going to kick it off with Hector’s question. It says, “Hi, Money Guys. My wife and I, both 34, just bought a $500K home with 20% down, 6.4% 30-year mortgage. She wants to pay it off early. I would rather invest the extra cash.” What are your thoughts?

Brian: 34. I’d love to know how much they had invested. There’s no information here on Hector, if you’re out there, let us know how much you got in investments. And then I would really encourage Hector, you need to know, are you ahead of the curve, behind the curve, or right where you’re supposed to be. I’d go to learn.moneyguy.com and check out the know your number course because you got to figure out where you are. What I would hate is for you guys to be debt-free but then not have ever built your army of dollar bills and you’re going to realize you have a very unique opportunity in your 20s and 30s especially to really let that wealth multiplier do the heavy lift for you. Really make wealth building easy when time is a strong element in your arsenal of tools. And I just worry if you focus on all the debt prepayment while you’re in your 30s instead of waiting until you’re in your late 40s or 50s, there’s going to be some huge opportunity costs.

Bo: Yeah. One of the questions that I’d want to ask your wife is, hey, why do you want to pay this off? Like what’s the goal? Because let’s say that we increase our mortgage payment, we want to pay it off quickly. But we’re still going to take years, likely decades to do that. And the question is, okay, well, to have the lowest mortgage balance possible at all times, or is our goal to ultimately be debt-free one day, to own our home and be financially independent? Because I would argue there might actually be a better way to pursue that goal and be debt-free sooner than aggressively paying off that mortgage because right now 6.4% in the context of interest rates over the last five, six, seven, eight years seems high, but it’s not that high, right? It’s not super super high. But there even might be a chance that as rates continue to fall and we get down to 6.1, 6%, maybe into the fives, you might even have an opportunity to refinance. And all of a sudden now a 5.5%, 6% mortgage for a 34-year-old just is not going to be that egregious. So, I want to know what do you have in outside investments? As Brian said, are you ahead, behind on the curve? And then why do you want to pay off or why does she want to pay off the mortgage? What’s the underlying thing behind that? And might there be a better way for you to accomplish that goal without increasing the monthly mortgage payment?

Brian: And if her answer is that it just makes her feel safe. It takes some risk off the table. I always remind people that you really only take that risk off the table when the mortgage is completely paid off. Because what banks are not good at is that once that money’s put into you prepay this stuff so fast. If you hit a rains it pours moment, when I mean rains it pours it means bad stuff is happening. The stock market’s getting beaten up, the real estate market’s getting beaten up, you lose your job, you’re going to want access to capital. Now hopefully you obviously step four is having your cash reserves, but even beyond that if you get into a really dire situation I like being able to have assets that I can have access to easily and I think that you might actually have less risk if you’re building up other investable assets in the background that will also be your future retirement. It’s a multifaceted, multi-value structure there versus just loading it up being a debt crusader. You might find yourself in a pickle of a situation if you haven’t paid it off to create that margin. That’s what I always remind people is that it’s really only gets good after it’s fully paid off. And that’s more than likely going to take years upon years. Meanwhile, in the background, you could be building it up and building up assets and then even being able to pay off that debt even faster if your army of dollar bills creates its own arbitrage and exceeds the performance of what your mortgage rate is.

Rebie: That’s right, Hector. Hope that helps. Thank you for asking the question. It is your lucky day because today is Tumbler day. So, if you would like a Tumbler, just email [email protected].

Brian: Do you see what’s going to happen for Hector? He’s going to start making his morning coffee. His wife’s going to be like, “Those are the guys that told you not to pay off the mortgage.” And hopefully you turn that frown upside down with your wife, so she also is a financial mutant with us.

Live Q&A – Index Funds vs Individual Stocks (29:58)

Rebie: All right. Next one is from Dan4224. It says, “Hey, Money Guys. I know that despite market turbulence, you recommend always be buying or AB as Brian likes to say. AB. There it is. If I have extra money to invest, do you still recommend index funds or can I invest in individual stocks?”

Brian: Oh, wait a minute. We covered a lot of ground there.

Bo: So that’s his real question is I’ve got some excess money. I’ve got some powder money. Look, always be buying. I get it. What should I buy? Should I buy if this is above and beyond my normal standard savings? Should I buy individual stocks or index funds? What say you?

Brian: Well, I mean I think there’s a time and a place. I mean that’s why we created a system called the Financial Order of Operations and I feel like for young people especially, I don’t Dan didn’t give us his age in here. A lot of people are trying to cut off the corner of wealth creation and they’ll get into doing individual stocks, they’ll do crypto, they’ll do other things when I always say look until you get to step eight let’s stick to the plan. So if you as long as now look Dan if you’re in step eight and you actually because that’s where you get to unlock additional lifestyle, that’s where you get to unlock if you want to start using cash as a being your mini Warren Buffett and it’s also when you can maybe get into residential rental property or you could start playing around with individual stocks, but I wouldn’t try to push it before that point.

Bo: Yeah, I think you have to be at the right stage and then even if you are at that stage, one of the questions I’d ask is when you’re an individual stock investor, generally speaking, there’s a few decisions you have to make. What company do I want to buy? What do I deem as the appropriate stock price to enter into this position? And then realistically, you ought to be thinking about it. What stock price would I think about exiting that position? Like if you’re going to be a good stock investor, that’s the way that you would approach it. When it comes to index funds, when it comes to just buying the market, when it just comes to participating in the general market movement, you really only have to answer one question. It’s how much can I invest, right? I mean, I guess you got to pick what index and that kind of stuff. But let’s just say we’re looking at large company stocks versus just buying the S&P 500. It’s really easy and has no mental calories at all. Just buy the index, buy the index, buy the index, buy the index. So that way, if Apple does good, you make money. If Nvidia does good, you make money. If fill in the blank does good, you make money and you’re not having to worry about, okay, how’s my individual position doing? And oh man, it just went down 15%. Does that mean that something’s happened with the company and there’s been a fundamental shift and I need to exit? It just removes the decisions that you have to make. Again, nothing necessarily wrong with individual stock investing at that stage. But for me, what I do with my money where I’m buying every single month when I’m buying, not your eating money.

Brian: That’s right. So that’s why I say follow the Financial Order of Operations until you get to step eight.

Rebie: Dan 4224, thanks for your question and we’d love to send you a Money Guy Tumbler as a thank you. So email [email protected] if you would like one.

Live Q&A – Significant Advice for 17-Year-Olds (33:00)

Rebie: If you would like to be part of our rapid fire segment, go ahead and get those questions in the live chat right now.

Bo: I forgot about it. I did. I figured, oh, we played a game. I bet we’re not doing rapid fire today. Look at that.

Rebie: I decided to do it. RF at the beginning of your question and we’ll know that that is for the rapid fire segment. We’ll do another long form question or two and then we’ll dive into that. So get those questions in the chat.

Bo: Did you know that last week Rebie did a rapid fire segment? We let people rapid fire and it was awesome. She did great. It was fun. We changed it up too, but we’ll tell you about that later.

Rebie: All right. Connor E has a question. It says, “Hi, Money Guy team. I was asked to teach a local youth group of 17-year-olds about finances. That’s awesome. What would be the most significant thing I could tell them to help them start their financial journey?”

Bo: I love I can see you guys just like, “Oh, where do we go?” You go first and I’ll try to think of something that you don’t say.

Brian: The thing that I always highlight, you know, we talk about the three ingredients to wealth: the discipline, creating margin on your life by living on less than you’re making, then maximizing the time. Those are the three components. So, I always kind of highlight that thing when I talk to young people, the wealth multiplier. And then I have a great illustration that we even put in Millionaire Mission because it was the thing that I remember being so excited about is I showed somebody who started investing and you could talk about for 17-year-olds and use our wealth multiplier for 17-year-olds, but I think in the book I used a 20-year-old who saved and invested every month only for 10 years. So just during their 20s and then they stopped versus the person who started saving and investing with even more money in their 30s all the way to 65. And the person who started in their 30s could never catch the person who just started in their 20s for 10 years. So it’s just early and often for young people is the easy button to if you want to be wealthy because remember what Mr. Marrow taught me when I was in my junior year of high school was if I could just save $100 a month I would be a millionaire. And with that thing, I was like, I can do this.

Bo: Just do something. Just start doing something and never ever ever ever stop. I have some dear clients. It’s a multi-generational family that I work with. And the parents, they had young children when I first began working with them that were around the age of 10 or 11. And based on the grandparents’ estate plan, there was some annual gifting that was happening. And the grandparents wanted the young kids to learn about investing. So I would sit down with them at 13 and I think one was 11, one was 13, one was 15, something like that, showing her how compound interest works. And I was showing her how the money can multiply. We’re talking about what stocks are and how they work and that sort of thing. Well, as she got a little bit older, she got her very first job and I was like, “Hey, we can invest this money. This is great.” But one of the really key things to investing is not investing big chunks of money, big lump sums. It’s just starting to do a little bit very consistently. Do that for a long time. And she goes, “Well, I’ve got this job. What if I just started saving 20 bucks a month?” And I was like, “Oh, that sounds incredible. Let’s do that.” Right? And so when she was 15 or 16 years old, we turned it on, started doing 20 bucks a month. Today, now she is a client in her own right. She’s in her mid-20s. And the other day we were talking, she still has that same $20. We never changed it. She still has that same even though now she’s got the 403b and she’s putting money, she’s making all and I’m like you realize that one decision you made back then is probably one of the most valuable decisions that you can ever make. So if you can just get the 17-year-olds to grab on to that you realistically can change their entire financial lives.

Brian: Connor, let me go ahead and prime the pump on this wealth multiplier discussion. By the way, you can go to moneyguy.com/resources if you want to know specifically what your wealth multiplier is. But for a 17-year-old, every dollar that comes into the control of these 17-year-olds has the potential to become $119. So that’s amazing. By the time they retire, if you want to become a millionaire, have your own Mr. Marrow moment. They only need to save and invest $71 a month and they will be a millionaire. If they wanted to know how to be a multi-millionaire, $2 million, it’s $141. It’s amazing how math works. Just cool stuff. Good luck on planting those seeds of success and hopefully you’re successful. Let us know how it goes. Maybe you can do that in the Moneyverse.

Rebie: That’s great. That would be awesome. We’d love to hear back when you get in there. moneyguy.com/moneyverse.

Brian: I’m not even going to tell people what my screen name is because I want people to kind of figure out who I am once I get in there.

Bo: I actually don’t know his screen name. I’m going to make a guess though. I bet it’s Quack Quack.

Brian: You think that? I bet that’s his screen name. What if that was your screen? Is that it? No, that’s not. That would have been a good one, wouldn’t it?

Rebie: Well, when Bo got in there, people thought somebody was impersonating him. They didn’t believe it was really him. So, we had to give him a special role that was like, “This is the real one.”

Brian: Did he just tell them what his bench press was and oh, it has to be Bo. The only people that can lift that much weight is Bo. That’s funny.

Well, Connor, if you would like a Money Guy Tumbler, since we answered your question, just email [email protected].

Live Q&A – Tax Extension Arbitrage (38:14)

Rebie: All right, one more long form, then we’ll move into rapid fire. This question is from MessyMiddleWP. It says, “What are the pros and cons of applying for an extension on my taxes? All my family put an extension for multiple years, then seem to play catch-up. Is there an arbitrage that I don’t see?”

Brian: I think this is a good question because I was down on spring break last week and one of the couples we were down there with, they also own a business. He because they own multiple businesses and his accountant was filing their business returns and their personal returns. I was like how does that happen? That sounds amazing. I look, the part I always share with people is that keep your life simple. If your life is simple, you can file your taxes. I think that’s the thing I have found from my own personal life because with all these profit sharing calculations, all these other business owners complicated life, success creates complications. So I now have to file extensions out of necessity. We crave to file it on time. I will tell you I don’t know if this is even true anymore. I’ll tell you the anecdote but I’ll also put the disclaimer I have no idea if this is true but years ago when I was in the tax preparing taxes professionally. We would share that the word on the street was is that if you filed your taxes on time, you had a likely more likelihood of being audited faster because they met their numbers. Now, the odds of you getting audited anyway is so slim to none that I think that doesn’t really move the needle. But for me it was more about when could I get the tax return organized and filed with all the appropriate information because unfortunately with profit sharing and all the businesses it just doesn’t happen by April 15th.

Bo: So a few thoughts there. In my opinion messy middle there’s not really an arbitrage to be had because one of the things that’s true is even though you can extend the filing of the return, you cannot extend the paying of the taxes. Your taxes are still due on April 15. So, it’s not like you can wait until later in the year to true up. If you do that, you’re going to get hit with penalties and interest. So, what most people do is they file an extension, they make some sort of payment with the extension. Well, if you overpay, which is what you should do if you’re filing an extension so that you don’t get hit with penalties and interest, what you’re really doing is you’re giving the government an interest-free loan. And when you get that money back as a refund later when you receive it, you kind of lost out on that. So there’s not really an arbitrage or benefit to doing that unless and this is the one thing where you do have a little bit of caveat. A lot of retirement plans, right? If you need to fund profit sharing or you need to fund cash balance, but you don’t quite have the capital to do that, but you know that you’re going to have money and receivables coming in, you can file an extension to push back your filing timeline so that you give the business enough time to create the capital to then be able to go fund the profit sharing or go fund the cash balance. So, it does extend your window just a little bit to be able to do those things. It’s not really an arbitrage.

Brian: I love that because it is true like Roth IRAs, your HSAs, all those things need to be funded by April for last year’s funding, but you do get a kind of a cool thing if you’re doing SEP IRAs or solo 401ks, anything with profit sharing or employer funded that following that extension lets you make those contributions all the way up until those extended deadlines. Pretty cool stuff.

Rebie: Great question, Messy Middle WP. If you would like a Tumbler, just email [email protected]. By the way, love the screen name messy middle. You know, it’s one of those things that very proud that we hopefully give comfort to all those who are struggling with the messy middle. If you’re short on time, you’re short on money. But don’t worry, life is still awesome because those years are the days are long but the years are short.

Bo: That’s right. True that.

Rebie: And that middle is messy.

Bo: Amen, Rebie. It is. It’s fun though. You know what’s going on in my life right now? What’s going on? Every time my kid goes to the dentist, it’s just a ton of money. Like they go for cleaning, it’s just my kids, it’s like they just are they getting fillings and stuff?

Brian: Yes. It drives me nuts. So do they have bad because look, I grew up as a I have meticulous dental health now because of my childhood where because I felt like I had a mouthful of fillings, but I as I’ve gotten older, I’ve realized I think I was just genetically flawed. I think a lot more I think my teeth design my wife’s I shouldn’t say this on air, she doesn’t have the same dental hygiene stuff but she doesn’t get cavities because I think she’s just genetically better than me. So it’s biologically if your cavity exposure was by work ethic I would be cavity free.

Bo: I just oh it draws me and it’s fine and we’re going to be fine. I just it’s annoying because I’m like girls floss better.

Rebie: But yeah, it is true. Brian’s not wrong. Like maybe they do and they still just have a predisposition towards those types of issues.

Brian: Every time I say do better like, hey, do you know how long I was telling my 8-year-old this yesterday. You know how long it takes for you to pay this dental bill? And she was like, no, Dad, how long? I was like, well, you’re like a long time. It wasn’t well thought out. It wasn’t well thought out.

It Doesn’t Depend – 30 Second Rapid Fire (43:56)

Rebie: That’s hilarious. All right, it is time for our It Does Not Depend segment where Bo and Brian answer your questions in 30 seconds or less. Yes, that is a new twist. We have a 30 second timer queued up today.

Bo: Cumulative. Oh wow. Okay.

Rebie: Cumulative. And so yes, you have to answer it in 30 seconds or less and you cannot say it depends. Now, to ease your anxiety about this, at the end of the rapid fire segment, we will do a brief Maybe It Does Depend segment if necessary. All right?

Brian: And I’ll say the quiet part out loud. Brian, don’t bogart the 30 seconds. Okay?

Rebie: Go ahead. I’m going to just see how you guys handle it. It’s going to be a fun twist because you guys, honestly, y’all were crushing 60 seconds. You were doing too well. So, we have to change it up.

Bo: Buckle up. We’re going to crush 30 seconds.

Brian: I can name that in three tunes. Keep going.

Rebie: I’m sorry. What? Okay. We’re going to move forward. I will read the question and then the 30 second timer will start. So let’s go. The first question is first car, current car, and favorite car that you’ve owned. Go.

Brian: First car is a 1984 Cavalier Chevy Cavalier with the F41 package. You do first because I can’t remember.

Bo: First car was 1995 Isuzu Rodeo. Current car is a 2019 Tundra Platinum. And favorite car is the Tundra right now.

Brian: Okay. And then I have a Tesla Model X Plaid. And that’s it.

Rebie: Okay. And we don’t know which one his favorite is. We’ll never know. We’ll never know. You can make your guesses. Next question is, I’m retired at 52. Should I try to find a way to contribute to a Roth IRA? My wife is retired as well.

Bo: If you’re both retired, you don’t have earned income, you can’t contribute to a Roth, but perhaps you should consider doing Roth conversions.

Brian: Yeah. I mean, and look, and if you start doing some side hustle stuff, of course, fund the Roth IRA, but I wouldn’t make it a requisite because more than likely, exactly like Bo said, you could do Roth conversions with your low earned income. I don’t know how big your investment portfolio, but you might have some tax arbitrage opportunities.

Rebie: Well done. Next question. Aside from Greatest Showman, what other movie dynamic duos would Bo and Brian be?

Brian: Turner and Hooch. Tango and Cash.

Bo: I’m trying to think about some really good superheroes, but not the two that people want to say immediately.

Brian: Batman and Robin.

Bo: No, that’s the one. That’s not the one that you said. That’s not it. It’s not it. Other good dynamics. William Roy.

Brian: I’ll take I like William Roy for you guys. Warren and Charlie, right? Like there’s some good duos out there. What was Michael Eisner’s right-hand guy? The guy who died in the helicopter. That’s the other one at Disney. Wells. Did I get that? He’s the quiet most people don’t remember. Frank Wells. He was super powerful.

Rebie: Oh, I think we’re over time. Okay. Which one of us is the quiet one? All right. Next question is, what percentage of net worth should a retiree spend on a newer car of net worth?

Bo: Percentage of net worth. I don’t think it’s a percentage of net worth. I think it’s a percentage of either liquidity or income. Like how much income do you have going in or how much liquidity do you have where you could just pay cash for it?

Brian: Yeah. I just want you to pay cash and then make sure it’s more of backing into the math of not stressing out the system by looking at your monthly cash flow compared to your investable net worth. Did I say depends there?

Rebie: I didn’t mean did you? I didn’t catch.

Bo: I don’t know if I like this but someone just said Brian is Tony Stark and Bo is Peter Parker. And I’m like, don’t get me wrong, Spider-Man’s Bo has bigger biceps than Peter Parker, but I don’t know that I’m if you would be if we were going to come to a counter, if he’s Tony Stark and we’re trying to think about all the Marvel Can we delve into what that means? That means I’m rich and nerdy. That means Bo, they look at you as young. Now, they obviously don’t know how much you can bench press, but it’s still just saying of all of those that can bench press a lot. It seems like there’s one or two that I would really lobby for inside of that.

Brian: I pick on Bo’s bench press. It’s probably he’d want to probably some clean or jerk or there’d be some other leg exercise he’d probably want us to actually brag on him more. Maybe next time he can let us know.

Rebie: All right, next rapid fire question says, “I’m 20 years old running my own couch flipping side hustle while studying accounting in college.” It says 60K a year, so I think he’s making 60K a year.

Brian: We reacted to a video on a couch flipper? That’s why I’m laughing. Keep going.

Rebie: The question is, do I pursue a career in accounting or strive to my dream of owning my own business?

Bo: This is not specific advice, but what I would say is I think getting the degree in accounting will set you up later in life. Meaning, if you go and try to be an entrepreneur now, it’s really hard to go back and get the accounting degree. If you get the accounting degree now, very easy to go become an entrepreneur in the future.

Brian: You know why everybody wants to be in business with me is because I have this accounting background. Because you always no, it’s seriously all through my life people when they come up with these ideas of starting business, they want me because I do the bookkeeping. I do the taxes. I know how a business works.

Rebie: Great points. Everybody wants to be in business. I think about stories.

Bo: Hey, I’m with you. I’m in business.

Rebie: Clearly both wanted to be in business. He can’t argue. All right. As a young investor, should we consider double leveraged market index funds?

Brian: Bo, why don’t you tell them about the time burn on there? What’s that? That time decay.

Bo: Time decay inside of these leveraged funds. It’s not like people think, “Oh, if the S&P makes 10% on average and I go triple leveraged, that means I’m going to make 30% on average.” That’s not the way that leveraged funds work. There is a specific time decay that even though you might be thinking you’re going to hold it for long term, the way that they recalculate every single day, you will not get compounding growth unless you get a long string of momentum ups.

Brian: Momentum. That’s what I was going to say. Momentum is the word I would use with leveraged funds.

Bo: Man, that was not long enough.

Rebie: All right, next question is currently engaged. Do I follow my single FOO or what our married FOO will be?

Brian: Well, you’re not married yet, so you follow your single, but as soon as y’all two become one. Now, it doesn’t mean that this gets into your structure, that’s a whole another question. But I definitely like looking at household for family members once they’re married.

Bo: I think there’s a glide path, right? You single FOO today with an eye towards what’s the married FOO going to be because you are moving into that realm. So, I completely agree.

Brian: And that’s where the complexity happens. Life creates complexity.

Rebie: All right. Next question. If I max out my Roth IRA, can I still contribute to my Roth 401k?

Bo: Yes.

Rebie: Yes. I knew that was easy, but there you go. Rapid fire.

Brian: Next question. By the way, if you wanted to, since we had extra time there, I still like doing the Roth IRA because it lets you choose the custodian. You get a lot of control. And as long but if you’re just trying to get the free money start with the Roth 401k because you still get your employer match even with a Roth 401k. Financial Order of Operations is your friend.

Rebie: Last but not least, morning workouts or afternoon workouts?

Bo: Oh gosh, we’re split. You go first.

Brian: I mean I do an afternoon workout. Everybody who knows me is in the 3:15 with me. Bo gets up at I do early mornings. Bo goes to bed at 6:00 p.m. at night.

Bo: Because I’m in the messy middle. If I don’t get it done early in the morning, it will not get done. And it’s important to me. It matters. So, I make time. So, me and three other dudes, we wake up and we start going about 4:45. Yeah. I wake up at 4:13 and we’re going at 4:45 specifically. You want to know because here’s the thing. I wake up at 4:13. I’m a Hatch. We’re not are we sponsored by Hatch yet? We should be. Hatch alarms. Amazing. Actually, no. I’m not going to tell you what alarm I love. I’ll tell you in the future if we ever get a sponsorship. Oh my goodness. But what’s great is wake up at 4:13. I immediately reach over, grab my phone, I snooze it till 4:22. 4:22, I get up, I go to the restroom, I brush my teeth, take my vitamins, go make my pre-workout, out the door at 4:33, ready to roll at 4:45.

Rebie: That was so intense.

Bo: Every morning.

Brian: I need a nap from that.

Bo: Every morning.

Maybe It Does Depend Follow-Up (52:40)

Rebie: Well, that was great. You know, I think you guys crushed it because I didn’t hear tons of fodder.

Brian: 30 seconds was more appropriate because we actually felt the stress of the experience, right?

Rebie: You actually had to follow through on being by the way, my favorite car.

Brian: By the way I got to say my Tesla Model 3 because y’all have no idea. I’ve never driven cool cars my whole life. And then when I got that because I was one of the early adopters of that Tesla Model 3. I can I’ll never forget because there was a they used to do a coffee and cars up in Cool Springs. In Cool Springs. And when I remember my car came I got it so much sooner than everybody else. All the head turning. I was like this must be what it’s like to drive a Ferrari. Is because I had so many people and I couldn’t go to a gas station without people coming up to me and talking. And that was also the reason I even bought some Tesla stock back in that phase was that. So that probably forever will be my favorite car just because it was such a unique moment in time that everything just aligned perfectly with that car. It was a cool car.

Bo: Well, and you love the Jeep, too, but I think you did love the Model 3 a little because when the Jeep you had the same sort of experience, it was a big head turner, too, but you loved the Tesla, the Model 3 because it was so different than anything you’ve ever driven before.

Brian: It was different and I thought it was so I remember when I first got it I was like it stinks that this thing doesn’t have auto headlight high beam cut off because my wife’s car at that time had that and then it was like 3 months later they added that feature through an over-the-air update and then I remember it didn’t have the auto windshield wipers they still struggle with that if you want to know truth Tesla struggles with the auto windshield wipers worse than the European companies but they got I love how the things get updated and I thought that was a really novel cool thing but that was just that moment in time was a pretty unique time for that Tesla Model 3. See, this is why I need more than 30 seconds.

Rebie: Yeah, that’s okay.

Bo: I don’t feel like there was any were there any questions there that we need to expand upon? We hit the Roth IRA, Roth 401k. I think even though it wasn’t a ton of time, these leveraged things people think it’s going to be a magic bullet. It’s not. And what you often find is you begin playing with that or even volatility investing that got super popular a number of years ago where people want to go buy the volatility indices. That stuff only works if you get lucky, right? Like those are not long-term investments. Those are and I don’t want to say gambling because it’s not exactly gambling, but it’s definitely more speculative. It’s like a kissing cousin to gambling. And so I just don’t think that’s the way that you ought to be using your dollars to build wealth over the long term.

Brian: Do you remember that crazy prospect that I had? He put you remember the numbers? I remember the numbers. You remember the numbers?

Bo: In 2009 he bought he put $250,000. He didn’t know what he was doing, but he bought $250,000 in a I think it was a triple leveraged ETF. And when he came to us, this is probably seven or eight years, it had turned into $9 million. He had turned $250,000 into $9 million.

Brian: I believe because you know look when you’re a financial advisor you have to worry about money laundering type stuff so there’s always you know people because when I worked at another firm we had a prospect that just how they made their money seemed a little fishy so you always have to be worry of somebody trying to clean money or do something so you have to stand on guard. So when he told me the story I was like you did what and I was like can you send me some statements and he did. He had the receipts and I couldn’t I was like holy cow. So I mean there’s always going to be some crazy story, but no, who’s crazy enough that you do this in 2009 and then once you doubled or tripled your money, you don’t get out. It’s you’re a wild man if all of a sudden you’re like, you know what, let’s ride this thing to $10 million. That’s one of those oddball stories. It’s still so unique.

Bo: And those stories are the exceptions, not the rules. Far too many people say, “Oh, this person did it.” There’s a ton of other things that have happened over the last 10 years. Oh, well, so and so made all this money doing this. Well, yeah, you can’t go recreate that. You can’t go back in time and do that thing again.

Brian: Well, I still I share the story that because I’m about to see one of my high school buddies, I’m going to spring training with him this weekend actually. But I remember three of us bought Apple stock in 2008 when everything was really going bad. And I remember looking at the balance sheet and the market cap on Apple was the same as just like what their assets were on their campus and those didn’t even include all the software and all. So it was just the disconnection from value. So we bought like $5,000 each of Apple stock. I sold mine when it turned to $15,000 because I was like hot dog. I tripled my money. My buddy, it’s over I mention it in Millionaire Mission. It’s worth over a half a million dollars now. He still owns it. Wild there are crazy weird stories out there that happen for those wild people who don’t take their profits. Exception is not the rule, though.

Closing – Join the Moneyverse (57:53)

Rebie: That’s good stuff. Well, thank you so much for submitting all of your questions today, both long form and rapid fire alike. We’ll be back here every Tuesday at 10 a.m. Central answering more of your questions and hopefully making it fun. We have fun. And in the meantime, you don’t have to stop the chat. Just go to moneyguy.com/moneyverse to join our Discord server where you can chat, ask personal finance questions, take part in our weekly surveys, and even celebrate milestones, and maybe even see Brian and Bo make an appearance in there and answer some of your questions throughout the week.

Brian: Yeah, my goal is in the next day or two. I have to today we have so many things we’re recording. I don’t know if it’s going to happen today, but I do plan on making some visits in there based upon all the feedback Bo’s given me.

Rebie: You heard it here first. Go join the Moneyverse, guys.

Brian: I’m your host, Brian, joined by Mr. Bo. It’s good to be back in the saddle. We’ll see you next week. Same time, same bat place. Money Guy out.