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10 Things To Consider For Retirement

Ladies and gentlemen, we have
a big show, a real big shoe Live from Joe's mom's basement
it's The Stacking Benjamins Show! I'm Joe's mom's neighbor Doug. Ever wonder what piece of the puzzle
your retirement plan is missing? Oh, geez. That's the worst. Isn't it? Yeah. I was once working on this
really difficult 32 piece puzzle in all of the corners. Anyway, look no further, because
today we've got you covered. Joe and OG are going to be your tour
guides and walk you through the 10 things you need to consider for retirement. Plus for no additional fee I just
might even toss my hat in the ring and chip in some of my favorites
off my retirement checklist. Plus, are you hoping for change? Seriously, some Kroger customers
are still looking for their change since the chain is no longer handing
out change on cash purchases. We'll share why in our headline segment.

Later we'll toss out the Haven lifeline
to Matt who has some questions about what retirement fund to prioritize. And of course I'll bestow upon
you some of my spectacular trivia. And now two guys who pay every
expense in nickels and pennies, it's Joe and Oh, G G, G, Gee It's called cleaning out the car Doug. Got to clean out the car, get
all the nickels and pennies out. Do you remember that story
about that hedge fund manager in Dallas, Kyle Bass, who figured out
that the melt value of a nickel was worth more than a nickel. Worth more than the nickel. So you got 20 million nickels
or $20 million worth of nickels. You think, think that dude's just sit
down and right now going what's up. Welcome to the arbitrage
thing for the win podcast. I'm Joe Saul-Sehy, @AverageJoeMoney
on Twitter and across the card table from me today. It's my good friend. OG. Happy Monday, man. @notthefakeOG closing in on a thousand. So if you're on Twitter. Oh man.

I just have to 10X it after
that, and then I'll catch you. I gotta say I don't like that by the way. I mean, not that you're catching me. That's fine. That part's good. I don't like the fact when, when
people go, I need three more people to follow me for me to get to X. Hold on, I got to delete something real quick. Uh, you know what we won't delete OG? We're not going to delete your membership
in The Stacker because the sec I've been cranking out a couple of those lately. You, like I say, a couple of them,
I've been cranking out a couple.

I've done at least two in the last
month, but we are cobbling together, a bunch of financial lessons for you. Head to StackingBenjamins.com/stacker
so that you can see as this COVID thing, hopefully one day it's going to end and
OG and I make our way across the country. You'll find out what's going on there. You're also going to find out we
had that big online event a month ago, Restacking your Benjamins. Guess what guys we're
planning another one of those. All that goes to the Stacker first
stackingbenjamins.com/stacker. I, by the way, put together a piece
for the stacker on the budget that we talk so much about Cheryl and my
weekly budget meeting, how that goes.

That was our latest installment. By the way, if you sign up for the
Stacker, uh, you will get that after all the other lessons that come before that. Cause there's a few that come before
that, but we got a great show today. Oh, gee, we're going to
talk about the guest. Today is retirement. We're going to talk about a
Reddit thread, about 10 things, 10 things you should consider while
you're planning your retirement, 10 things, you should expect, 10
things you should, uh, think about.

That's pretty soft. Also 10 things to expect while you're retiring. 10 things. Is that like that book, you know, that book, the parents read 10
things to expect when you're expecting 10 things to expect when you're retiring. Yeah. Yes. If your retirement is right around the
corner, You're about nine months away. That might be, that might be, I
don't, I don't think that translates. It's a little too late,
I guess at that point. Yeah. Yeah. A couple of words. Nice planning. At nine months before retirement. Hey, so we're gonna start early. Let's get this party started though
cause we got a couple of great headlines. Hello Darlings. And now it's time for your
favorite part of the show, our Stacking Benjamins headlines. Our first headline comes to
us from InvestmentNews.com. This is a industry website
where, uh, people that. Are all kinds of financial
planners, hang out.

There's been a survey. This is written by Emile Hallez, a
social distancing weighs on advice. Business is the survey. This is very strange. Oh gee. So they survey all these quote advisors
and they ask them, how is social distancing effected your business? A meal, right? Remote work in the age of COVID-19 has
hurt some advisors practices and many say they're having difficulty finding new
clients and working with existing ones. That's according to results of a
survey recently published by Limra. Oliver Wyman, The Insured Retirement
Institute and The National Association for Insurance and Financial Advisors. Well, there you go. The survey included responses from
400 financial professionals between May 5th and June 1st, nearly 70% of
advisors said social distancing has made prospecting new clients, moderately
or highly challenging, according to the report and nearly as many 63%. Said, initial planning conversations
are challenging and 61% said social distancing makes product
sales difficult with new clients. What do you think about that? Well, I think that, um, if you
can't sit across the table from somebody and be like, so what do
I gotta do to get you into this? I have insurance policy today.

Badger amendment. It just gets much more difficult
when they can hang up the phone. I suppose, these old school insurance agents across a table. And you just stare at the pen. You don't make eye contact. I remember this horrible sales
training I got along time ago. I remember this one. Oh, gee. The first person who talks loses that's actually probably accurate.

That actually is probably okay. You said it was okay. I said it's accurate. I mean, just, that's true
for just about any discussion that you have with somebody. If you'd just people
don't like the silence. I mean, as evidenced by our show,
you know, I mean, seriously, like there's a period of time, right? Where there's some silence
and nobody can stick with it. There's go. I can't, I don't know
what's going on here. I can't, I can't fill that in. I can't, I can't take the silence. I remember, uh, one of my training
managers early in my career, his dad was one of these horrible door
to door insurance, sales dudes. And he would tell stories about his
dad and what a jerk his dad was. He said, you know, he'd sit there
selling this kind of crappy full of fees, insurance, and, uh,
he'd set the people's table.

And if they weren't buying
it, he'd, he'd look his watch and go, wow, it's time to go. But Oh, you know what? It's kind of a, it's kind of
a long, kind of a long drive. Can I, can I refill my coffee? Have just one more cup of coffee. Of course people sitting at the
table know exactly what he's doing. Just trying to sit there a little while,
you know, while I'm sipping my coffee. Let me tell you one more
thing about this policy. If that didn't work and they were
still going to kick them out.

On his way out the door, you
know how, uh, well, like here, we're recording from your house. You've got a picture of you and mrs. OJI, you know, uh, uh,
her is a beautiful bride. You as a groomsman, I don't
know where you got that. How'd you get that handsome by the way. Still here, just hidden behind the six pack, a
protective coating for your six pack. Abs that's where it's. Where it's in anyway, that's a nice glare. It's weird that you're staring
at my abs all the time though. I just don't know what to make of that. You're like, Hey dude,
my eyes are up here. My eyes are here, but anyway, there's
pictures of you and your family. And, uh, as he's walking out the door,
his son told me his last kick to the gut was he'd pick up one of the pictures
and go, wow, it's a beautiful family.

Oh, man, it'd be horrible if you
passed away and, and they didn't have, uh, they had no money,
but Hey, nice meeting you great. Like they're not buying then. So he's going to kick them in the teeth. There's a guy that I worked with at
Ameriprise, who is an older, older guy, was a door to door sales guy,
disability sales, which actually I think is probably more important
for most people than life insurance. Frankly, he told me this story one time
where he knocked on the front door. Hi, I'm, you know, gloom door
gets slammed in his face. And so then he went around the
back door and knocked on the door and the woman answers the door. You know, it's like one of the, can
you kind of picture like a screen door and the back door in the
summertime or something like that. And she goes, what do you want? And he's like, hi, I'm Tom. And I hope you're a lot nicer
than the lady at the front. Did she by then? I don't know. I don't remember that, but you get the laugh, right? I mean, he's going for the laugh.

So he gets the, scratch the record a little bit. Right? You gotta like change the tune. What's the modern day equivalent
of that right now about these guys. Would that be personal capital? Of like door to door salespeople or the door sales people trying
to get, trying to hard, close you to use their service, disparage any firms. We don't do that personal capital. Wouldn't do that. Yeah. Or any other company, but we're not, we're
not really big fans of like smashing other companies here, unless it's Robin hood or bank of America, bank of America,
maybe Wells Fargo, betterment, anybody with a target date.

FID. Yeah. Oh, I understand. Besides that though, that we're good now. Yeah. Yeah. Um, yeah, I think it's funny, you
know, you're talking about baking product sales is more difficult. Well, it sure would be. If you, if you don't get to
brow beat somebody across the table from ya, it seems like it
would be a lot more difficult. 42% of people in the survey said they're
less effective at selling annuities. Does it really say that? Are you just making that? No, it's right here. Do I just need to drop the mic? Is that it? End of conversation. It's a survey sponsored by
Lemara life insurance people.

So, you know, that's who they're asking. And I, and I bet it would be more
difficult because you just don't have the, you don't have the smoke and
mirrors, you know, you don't have the, the panache that you can put
into the, it has to be a solution. And if it's not, if it's a sale,
that's a whole different thing. I mean, look at what
the, our companies did. Right? So GM, Ford, Chrysler,
whatever, what'd they say? He said, Hey, Just go online, pick out a
car, we'll deliver it to you better yet. You don't have to make payments
for 90 days and we'll give you 0% for the next eight years.

What a bargain. They're doing everything. They're throwing the kitchen sink at
people saying, you know, we can't, we can't take a salesman in your face and do it. So you do it yourself. And, uh, and then we'll do, wouldn't it be great if they
did that with annuities? Here's the deal we'll
deliver the product to you. We'll strip away all these expenses. We'll make it just a strip down. So that, it's what it's supposed to
be like a pension that you can take. perfect. Oh, it comes, my Nudie
comes to the dance video. I mean, I remember thinking about
like the car shopping thing. I was just thinking about this, you know,
we've got the gray Marauder in the garage. And the gray Maybach. Yeah. Yeah. What did I say? It's the Maybach of Toyota's the Maybach
of Toyota, TM, TM, Maybach of minivans. That's what it is. It's the Maybach and
minivans, the Toyota Sienna. But anyway, we bought the same
couple of years ago and we had decided to pay cash for it.

You know, the rates
weren't particularly great. You know, we can just pay cash. That's fine. And the sales guy literally
said, He goes, all right. So we just need to fill out this paperwork
and, uh, we can get you in this car today. And I'm like, Oh my God,
could you be any more? And I looked and I said, well, you don't
need my social security number for this. He goes, Oh yeah, yeah,
this is what we require it. I go, no, you don't. What, what for what purpose? Do you need my social? Oh, it's um, it's, uh, you
know, just see if we can get you some good terms and stuff. Like I said, well, we're paying cash. I don't need any terms. I, the same thing. And he's like, Oh, well this is
like, you just fill it out there.

And I said, no, I'm not giving you my
social security number for no reason. Well, I figured out the reason it took
me a second to kind of think through it. He gets a little spiff. He gets some, some, he gets a little,
the little, little juice, little cash Ola, a little bonus for a running credit. Because then the guy can come
and go, Hey, you know, why didn't you want to pick it up? Sure. This thing, you know, you can pay us 3%
interest for the next five years instead. All right. So we're saying that this is better
though, or this is worse rather. Sorry. This is worse for product
salespeople, right? Cause you can't sit in front
of them and shove stuff. They don't want down their throat, but for
people that are, that are fee advisers. Oh gee. I mean, your practice is
mostly virtual already.

Is that harder for you? Now, is there anything harder for you
now because you work virtually with people than it was before COVID, uh, I've
heard harder for people to implement? No, I don't think so. I mean, at the end of the day, I wish that
I could take credit for figuring this out. But when we moved from Michigan to Dallas,
it kind of forced my hand at the time. Because I wasn't going to
be traveling back and forth. The vast majority of that, uh, of my
clients at that moment were in Michigan. So I wasn't gonna be going back and forth
to Michigan every week for meetings. So we just got really good at having
conversations, which, which I think by having online conversations or on the phone or whatever. Sure. And what I think was a byproduct of that. Now looking back is. You know, I notice I do this
when you talk, like, sometimes I daydream, like, I'm just like you.

Yeah. You'd be surprised. Like, I'm just like, huh? What's happened like at our
team meeting this morning, what you said, you said something
about gee, and then, and then like you talked for like another six minutes and
they used said, so what do you think? And I'm like, Oh, it's back to me again. I thought my thing was. Six minutes ago. I was telling you what I thought about that thing, and then asking for very long time to get to the point
anyways, when, when you can't do that, when you can't date, because the only
clue you have is the voice, right? If you're on the phone or if you're
on zoom, you know, you can't just like walk away from your zoom call. Well, I do when it's a team
meeting, but yeah, just be like, Oh my, the video's not working.

Play on your phone. Who among us. Hasn't done that one who hasn't taken
the phone to the toilet. Yeah. Time to time. But anyways, I think we just
got, we're really good at having conversations and listening to people. And when you are having a conversation
about financial planning and financial planning goals, then you have solutions. You don't have to sell anything. It's just, you know, we're not debating
whether or not you should cite. Save for retirement. We're saving for retirement. I would think the only reason the plan
implementation, which is really what we're worried about, not selling a product.

Right. I think that you're worried about it. So we're worried about that. And that's the advice. Yeah. Sales guys are worried about commissions. I would think people wouldn't implement
their plan is because they're worried about insecurity in the economy
would be the only hang up here. I don't think it'd be any of this sitting
across from them and brow beating them. Yeah. It would be, but that would be a reasonable discussion. That's you know, that's my point is that
you're having a discussion at that point in time with another person you're having
a conversation or reasonably a solid conversation with reasonable questions
and dialogue, not what do I gotta to do to get you into this insurance policy
today or this annuity or whatever. This is what you missed in
our team meeting though.

I was going into talking about Rick, but
actually it was on this Rick Edelman's truth about money book, fantastic book. Rick's been on the show a couple of times
before we will link to some of those past episodes when he talked about this stuff. But Rick is, you know, fee based advisor now, now, but, but he goes through in
that book, commissioned salespeople and a fee only fee based advisors. And he shows some studies that
show that fee only the advisors. Clearly you get better, more objective
advice, much more often, right? Commission-based advisors though. Studies show, Oh, gee people implement
those plans hands more often. And it's because of the salespeople
brow beating you into doing it.

And then he brings up this question. Is it better to do
something that's 92% right. Than to do 0% of something
that's a hundred percent, right? Yeah. Well, I can see that. I think, you know, if you look at
the incentives, if the incentive is I get to put food on my table, if you
do this thing, which by the way, is. What you should do, or like, to his point,
it's pretty close to what you should do. Maybe not the most optimal thing
to do, but it's close enough. You're, you know, again, you're
having a decision of not, should I be saving money, but we should. These tools should I
use to be saving money? Hey, this one puts a little extra
money in my pocket, but whatever, you're still saving money. And that's the main mission here. I think he's got a point there
that that helps, but by the same token, somebody who's really,
truly invested in your success, whether that's a personal trainer.

Whether that's a physician, you
know, your family, doc, they're going to stick with you along the way. And you know, I don't wanna say brow beat
you cause that's not the right thing. Make you implement it. I mean, if this is the thing, if you
have a serious discussion with somebody about your health or in this case
about your money, when you say, Hey, these are the things I want to do. And then we figure out the right
solution or the whatever, and then we provide the accountability
part of that accountability.

As a professional advisor is to
say, Hey, you said you were going to do this stuff and you didn't. So what's up either. This means that thing wasn't super
important to you, or you had other things come up, which happens, like
you said, maybe it makes sense to delay implementation of something
because of, of COVID and the uncertainty, in some cases, that's true. You know, there's plenty of
people who stop saving in their investment plan because they
said, listen, I haven't worked. And I'm going through my cash reserve
and I might have to change jobs or I might have to move or whatever. I got to pause. That's the right thing to do for them.

But it's done in the context of, of
an overall strategy as opposed to, well, I'm just not going to do it,
but an accountability partner, a professional would say to you, Hey,
so what's up, you said you were going to do this stuff and you haven't. So tell me about what's going on so
that we can adjust the course cause. You know, just cause you didn't save in
your retirement accounts for last six months, doesn't make you a bad person. It also doesn't change the fact that
you're six months closer to retirement now, and that needs to be addressed. That's what I thought too. If the, if the financial
advisor wants to get. Paid again by you in the future to
update the plan, to change, to be your coach, they still should be pushing you.

And to be fair, I mean, sometimes
the right decision is to do nothing. And you think about like trading activity,
we talked about, you know, how it's just skyrocketed and everything like that. I mean, the internet is full of
people who bailed out in March and, and are still waiting for the
market to recover before they get back in and all that sort of stuff. And if the right decision for you.

And an advisor or yourself or whatever
said, Hey, the right thing to do is to sit here and just do nothing that
probably worked out the best, frankly. So many studies show. This is the one thing. Well, we had dr. Dead, dr. Daniel Crosby he's behavioral guy, by
the way, for people that don't know dr. Daniel Crosby says that that's,
this is one of the few things in life where doing nothing is usually
the right move and you're hiring somebody to help you do nothing.

Yeah. A lot of times. Yeah. Our second headline is from Fox business. This is written by Lucas
mint, Freddie Kroger. The grocery store chain stops. Giving coin change has
coronavirus drives the shortage. Do you see this? Kroger's halting the use of coin
change at his stores in response to a shortage caused by the coronavirus
pandemic Fox 19 Cincinnati reports. The federal reserve said last month
that pandemic has significantly disrupted the supply chain and normal
circulation patterns for us coin.

What happens is that with the partial
closure of the economy, the flow of coins, the economy's gotten all. It's kind of stopped federal reserve
chairman Jerome policy during a virtual hearing with the house financial
services committee on June 17th to places where you go to give you
coins and get credit at the store and get cash, you know, folding money. Those have not been working
stores have been closed. So the whole system's
kind of come to a stop. So do you think when you do a virtual
hearing and you're Jerome Powell, do you have your zoom set up and
then, and then do you have like a little nameplate in front of you
that says the honorable James Powell.

A virtual nameplate. Yeah. Yeah. Will you just do it for yourself? Just so you know. Yeah. Or is it, is the computer, but if you do it for yourself or do you think that he's, do you think
that he changed his screen background to dot, dot, dot reconnecting? And it's just like that little spinning
thing that just says reconnecting it's like that Jif that just keeps
on in there going, Hey, I thought we had had power line for this. Hour long testifying thing. Like, I don't know, he's having some
troubles apparently, and he's just sitting there on mute, like giggling on cat. I don't have to talk
to these people today. I love these. I love this. This whole zoom thing is great. It's great. No, I thought it'd be funnier if like
he had a grandchild and they were just on a zoom call with friends and
he shows up to one of these virtual hearings with like a frozen two logo. Okay. He stands up and he's
just in his boxer briefs. He's got like a shirt on
with a tie and a coat.

Is that, by the way, the mullet of
Corona virus, like, like business on the top and party party or nobody. Well, when we did that a YouTube event,
you had like gym shorts on didn't you? I think I did. Yes. I did have gym shorts. I had a collared shirt on an, a. And yes, I might have even had shorts on. I'm not sure. I I'm also fairly certain. Did we talk about that just for you? What live Ken from fidelity? Remember also I think had shorts
on and a very professional shirt. That was, that was funny. So what the hell are we talking about? Coin shortages. Yeah. How about that things? Things, uh, really, it reminds me I've got a, I've got a coin
operated laundry in my apartment building. I was thinking about adding another one,
but now I'm thinking that maybe I need to add the credit card feature the wireless. Yeah. There's a little plugin thing that
you can like tap to pay basically. And it just, how is it in the device? Is that where you make all the big money on coins? Yeah.

Yeah. That's crazy. I know her. They don't have them. Cause I got all the
quarters from Michigan. They just, you got all the quarters. I have so many ridiculous Jerome Powell comes down and goes up. Oh gee, is the issue here? Uh, Kroger sweating it
out because of that. But this actually leads to
some interesting conspiracy theory stuff that we've seen. Right. What happens actually, what's funny is there's
all this conspiracy theory stuff, but a lot of stuff. Oh gee, this is actually the one
that I, I kind of agree with.

Which hashing your tinfoil hat. Yeah, absolutely. And I will tell you exactly what it
is, which is this leads to people starting to think, well, why don't
we just go virtual with our cash? Right. And we just completely go, Oh, why
do we need change in the first place? And that leads to a bunch of discussions. Like, you know, all these Bitcoin. Yeah. As, as you think that the government
doesn't get ahold of Bitcoin. I mean, I know what Matt Ridley said. Last week, uh, about that is the future. But remember he had that one very
quickly uttered sentence where he said, you know, as long as they can
get around government intervention and I'm like, and that my friend, mr.

Ridley is a problem. That's why, that's why it won't work. But let's say that you want to give
your kids a few bucks under the table for helping you out for something. Maybe you have full they'd have to change the rules. I mean, I have a 13 year old. And, uh, he can't use like Apple pay cash. You know what I mean? Like I can't Apple pay him. I can't Google pay him. I can't, he can't open a PayPal account
or a Venmo account until he's 18.

So there'd have to be some
sort of solution for, for that. How many restaurants remember those
Coney Island restaurants around Detroit? They all say cash only. They're like, Nope, we
don't take credit cards. Cash. Yeah. I wonder how much of
that they're declaring. There is no skimming going on there. Nope. That's illegal, but so that, I wonder what
that does to the economy. That's not the big thing for me though. The big thing for me is, do you seriously
think that these banks, the second that they, that you have to have a
checking account because there's no more physical currency that they're not
going to immediately start assessing all kinds of fees to your checking account. They're not going to
start charging you money. Well, I noticed this the other
day I was, um, I got an email that said I had a credit card
payment due for bank of America. And I have a bank of America credit card,
but I haven't used it in a long time. And I'm like, how did
I have a payment due? Well, it turns out I have
a negative payment too.

I paid too much. At one point bank of America
has 25 of my dollars. On my bank of America card. And I, you know, I'm just
holding it in reserve for later. But the thing that I noticed that
was funny, there's a long story, but anyways, the card has cash back. And at some point in time, I decided
that the cash back I would put into the savings account and bank of America. Like they make it real easy. You can just transfer the
cash back into their cash. And also at some point in time, I had
noticed that they were charging me. A monthly fee. Of course they were $5 for my, you know,
$82 of cash back in my savings account. So I pulled that money out. Well, the funny thing is, is that
now I have a savings account at bank of America with negative $60 because
of the $4 and 95 cent monthly fee.

And I'm just kind of curious how long
they're going to keep that open and assessing me $4 and 95 cents to not have
an account, not have money with them. And I wonder if I should start sending
them in $4 and 95 cent bill every month for the fact that they owe me $25
because I overpaid my credit card once. Do you think that would even it
out, like, do you think it would be great to send them an invoice? Like just a, like, you know
how we send out invoices from bank of America, bill just for $4 and 95 cents.

Okay. I think that bank of America and
if not, bank of America assessing a bunch of bologna fees, Wells Fargo,
I mean, Wells Fargo, I can see them sitting around going, okay, opening
seven bank accounts for everybody. Didn't really, they caught onto that. Here's what we need to do. Let's start a virus that
makes people rethink cash. So this is Wells Fargo. I've heard that George Soros did
it, but I had never thought of. Bill Gates bill Gates. That's my favorite one. Bill Gates is out trying to solve stuff. And he's trying to, he's trying to make water. Yes.

Drinkable, and also trying
to help bring back a nuclear power, which is very popular. Everybody loves nuclear power. Like, are you kidding me? Yeah. Working on all these things and Oh, in my spare time. I'm creating a virus. So that it's five G dude. Oh, you know, we're
getting emails on that. No, it really is. It really is. All I know is that when I
have five G on my phone, I get like 1.8 gig download speed. So I'm pretty happy with, so I think the takeaway here is, is in hoard all your coins and they're
going to be worth some money dog and blame Wells Fargo or
Bank of America for COVID. Absolutely. That as a theory yet, but I think we could
launch it between my 918 Twitter followers and your 9,000 Twitter followers. I really feel like we could
start a movement hashtag what if it was Wells Fargo? Not directly accuse them, but
just be like, what if it was what hashtag what if it was.

What if it was, I think the real
takeaway here is from our first headline, which is this, your advisor
should be about the process, right? You guys last Friday talked
about that on our advisor round table, but hiring advisors. Oh, gee, I think it
comes back to this too. If your advisor can't shove an annuity
down your throat because of the fact that they're not sitting across the table from
you, you might have the wrong advisor. Alright today instead of having
a guest, uh, our producer Richie Rutter-Reese found on Reddit, a
thread that we thought that we would dive into that this is always fun.

They have such good discussions on
Reddit, and these are out of your mind. Like, there's not really
good discussions on Reddit. There are good discussions on Reddit. Don't get me wrong. You got to go through a lot of
stuff, but it's better than Facebook. Come on. I don't know. 10 questions worth
considering for retirement. This is in the retirement subreddit. I thought that you've worked with
a lot of people on retirement. I used to work with people on retirement. We talk retirement all the time. We should go through this
because everybody should think about their retirement planning. I think a little differently
than they, most people do. Most people, I think, especially when
they're planning retirement, the first problem they have is they walk in into an
advisor's office and want to talk about, or if they're doing it on their own, all
they think about is the money, right? How much money do I have? I think you'd be the first one to say,
that's probably the wrong approach, I'd be curious about a lot of stuff,
you know, what does it look like and what do you really want to do? And I mean, ultimately financial
independentce or retirement is just a function of what you really want to do.

You can be financially independent
with 300 grand, or it could be, have 3 million and not even be close. You know, so I'm going to be closer
to that 30 million number, right. That I spend money. You could bring in 60,000 a
year and be happy or bring in $600,000 a year and be miserable. Yeah, I'll take the 600 to be miserable.

At least you're showing up to your
problems in a, in a limousine. That's right. Uh, question number one on
this list of 10 questions. How will your life be when you're set? These are questions. You should ask yourself. As you're thinking about retirement. This is what one person
on Reddit is asking. And I want to walk through
these 10 questions and see what we think about these. Since you should ask yourself
as you're thinking about your own financial independence. Yup. Okay. Got it. How will your life be? When you're 70 years old. I like this question. Oh gee, because you and I get coaching
from a group and this was one of the first questions they ask you is, is,
Hey, when you're close to passing away and ducks, I hope will pass away 70.

Yeah. But, but, but when you're later in
life, what do you want to be like? And you write down, I wrote
down all these things. I don't know what you did. I wrote down all these things. And then they said, Hey, if
you did all these things, how much longer would you live? This is a great exercise. I think anybody can do it. You just think of the age at
which you want to be when you die. And you can kind of ruminate on that
for a moment and write the number down and then subtract a year from it. And now describe how do you
want your spiritual life to be. How do you want your financial life to be? How do you want your social life to be? How do you want your fitness, your
physical life to be, and then you, so you write down all these things, right? Like I want to be in great health. I want to have tons of money,
be super active in the community and then you go, okay, cool. So do you still want to die next year? Oh, Well, actually, no.

And then the next part of that is by the way, I'll go through a few of
these, as people are thinking of theirs. Cause I'll tell you mine were, and you
can tell me what your years are, because even though I did this nearly a year ago,
now it is really shaped my last year. It has shaped a lot of my last year. The first thing that
I wrote down was that. I wanted to be active. You know, I used to work on this
committee that put on a half marathon and I always love seeing
these people in their eighties. And I said, I was going to die at 82. Um, and I said, uh,
that I want to be active when you're 81, when I'm 81, I'd like to still
be running a half marathon.

Cause I think those guys
are bad asses, right? And it keeps your mind fresh. And then the second thing was, I said, I
don't want to be a burden to my children. I want to be a resource. I want to be somebody that my kids go to
and still go, you know, my kids at 82 are in their late fifties and they they're
saying, Hey dad, what do I do about this? I always want to be, I want
to be a resource for my kids. And then I want to be a
pillar in the community. Somebody we'll look at and go. You should live like that guy, you
know, and I'm not saying money-wise, I'm saying just quality of life, right. That I'm somebody that's full of life. And I'm also a resource for my community. Those were three of the things
that I, that I wrote down.

Yeah. So then the next part of that is, as
you think about how you want to be, when you're 81, in your case, then the
next thing they ask you is, well, so now how old do you really want to be? And I said, because you're
no longer atrophying, right? You're no longer 81 years
old with nothing to do. Now I'm a pillar of my community. I'm learning all this
stuff, I'm doing all this. And because of that, I mean, we
talked to Anne basting last week about being creative and looking forward. It's that same thing, because
there's no atrophy now. I said I would probably live to be 95. Yeah. So I bought myself another 13 years. Yeah. And the impact of that, which is. It takes a while to
kind of settle into it.

You did this exercise. It's the group that we belong
to is called Strategic Coach. It's called the Lifetime Extender. You did it a year ago. I did it 12 years ago and I still
can remember it quite vividly. But the impact of it is,
is it gives you permission. You have so much more time. You know, you're not trying to like fit
everything into this back of your mind. Like, I gotta be like everything
done and like be in the coasting part of my years, by this age,
now you go, I got 13 more years. That's another decade and a half just
about, you know, so it's super impactful. So another big thing on there for me
that I just remember was that I don't want to worry about money. I want to do whatever the hell I want to
do and not even have to think about it.

Just go. Yeah. Yeah. I want to do that. Yeah. I want to do this thing. Like money is, isn't a big deal for me. It just it's in the
background right at that age. But the big kick in the pants, are you
leading up to the kick in the pants? Well, the big kick in the
pants is then they ask you. So Joe, you bought yourself 13 years. What do you do with that? And then you go, well, heck I'd travel. I'd I would eat right. I, you know, have all these
systems for managing my money. So it's in the background.

Do, and, and, and then Gina,
my coach said, Why the hell you wait until you're 81, right? Why aren't you doing that? Why aren't you living like that right now? Yep. And it's amazing when you look at your
life that way, all of a sudden then that's where my MetPro coach Jesse came from. Right? That's where a lot, one of these days you'll
actually implement this stuff someday. My wife's in the kitchen making
these awesome cookies by the way. So we are, we are going to eat. Key lime pie, cookies. Like you wouldn't believe I'm sicking Jessie on you. Okay. We'll send her some cookies too.

She'll be like, okay,
I'll give you a pass on. This is fine. One or two days. Uh, but seriously that there
was, you know, this whole idea of us changing our whole life. You know, all this stuff changed a lot of it's the wait, but why? A lot of the things that we've done
around the podcast, Sure change it now. That's what I told. I don't think that our friend,
Steve, who edits the show, Steve Stewart, he put something on Twitter. They were on vacation at this vacation
area that they're looking to buy a home.

And I said, w w w what are you waiting on? He's like, Oh, I just tried to get the,
you know, we've got to wait through that. I'm like, yeah, what are you waiting on? Just go to it. So like this question, what do you
want your life to look like at 70? I wouldn't think 70, I would say 69.

And then. If it's that at 69 it's how much
better is it going to be at 70? What does 80 look like? And like you said, you tie
all that together and go, why aren't you doing that now? Why do you got to wait
until you're 70 to do that? You said this fantastic question
that I think is much better. Quote, retirement planning
than coming in and going. Okay. The 4% rule on a million dollars of assets
gives me $40,000 a year should be enough. That's crap. I mean, that's just crap
planning compared to, by the way, my answer was 142 142 years old? Yeah. Because I want my kids to live. I want to see my kids turn 100. You're cranky now. I know. Could you imagine, I just, did I
have, it gives me so much flexibility, like, does that not just answer
so many questions in your mind? Like when you go now, it makes sense
because you've got a hundred years, like I'm like, yeah, I'll do that later. I got a hundred years, man. Cool. The cool thing about that is.

Is that you and I have been friends
for a long time and I'm dead way before you, which is fantastic. Cause I don't want to be around
when you're 140 crusty years old. You do the lifetime extender
and like to have 141 of them. Yeah. But 142, I feel like that's good enough. Yeah, a number two on this list. So number one, I think our takeaway
here, what's your life like when you're seven years old, good start. I think you can do that better. And I, I also think that this is the
discussion that you need to have. It's not about creating
a minimal lifestyle OG. It's about making your life
blossom, making it better. Number two on here, what will be the
sources of your income after retirement? Where's that money gonna come from? And this then. I like this. I dunno if I like it as the number
two question, but I do like thinking about, okay, am I going to have
any streams of income coming in? When do they happen and what am I
going to need to fill in kind of backhoe in with my investments.

Well, and it's not just that,
okay, I'm going to have a million dollars and take 4% out of it. And that's good enough. I think, I think looking at it
from the perspective of what do I want my life to look like. And then figuring out if you're I'm
42, if you're 42 and this is age 70, you've got whatever that is 30
years to 28 years to figure it out. Right. And when you think of it in the
perspective of that, You could say, well, geez, I could buy, I
could buy a rental property and have it paid off in half that time.

And, or, or, you know, because then it's not just
an asset, it's also an income stream. Yeah. It opens up the idea of so
many more opportunities. When you think of it from the
perspective, these are all the, all of this is about asking better questions. It's just that the central thesis
here is if you ask better questions, you come up with better answers. And I think that what's even
more important than this one, the sources of your income after
retirement, what are the financial I'm going to call them pain points. They're not really pain points, but
when you look at that, you know, the lifetime extender stuff we were talking
about, what are those big changes in your life that you really want? So, you know what? I'm in my sixties, I want to.

I want to buy a second home,
or I want to buy the RV that we talk about that I will never do. Right. I'm going to buy the $80,000 RV. I mean, you might have a lot of
money that comes up at one time. This gives you much better idea
than the crap discussion of do I save into an IRA or Roth? Well, I like the exercise sometimes. We'll do with people where you write
down everybody important in your life. You know, on a list, your parents
you're in-laws, if they're around your grandparents, around, you know, your
kids, your business partner, fine. And then you just kind of write all this
stuff down and then you write today's today's date and how old they are. And then you start adding five
years to it and you start overlap. You start seeing these
overlaps of like, Oh crap. My kids are going to be
going to college around the same time I want to retire.

That I want to do this, or this is where
I want to buy the vacation house, or I want to take a sabbatical here,
but boy, that sounds pretty unlikely. Cause my kid will be
going into high school. Probably need to stick around for their
high school years, but maybe I can kick that four years to when they go to Cal. You know what I mean? You can start putting that together. Like, gosh, when I want to retire
is at the exact same time, mom and dad are going to be 93. Yeah. Oh boy. There's probably going to be some stuff
I'm going to have to deal with there. What can I do with that information today? Uh, to kind of plan for it in advance. Number three, where will
you stay after retirement? Will you rent a house or
stay in your own house? And how have you building up so many
chits of people that I get to stay with. But the funny thing I was, I was thinking
about this, we've talked about this and that I just thought about with you and
I right here, isn't it you're like, man.

Well, except for the fact that
remember the whole discussion of, I don't stay at people's houses. I was thinking about the irony of that,
of how I'm very open and very welcoming. I don't know how you feel about being
in my house for the last couple weeks. But, you know, I'm very happy, but like
my in laws coming to visit for a while, my mom does for awhile and you guys are here. We've had people at our house for
weeks on time at a time, and I'm perfectly comfortable with it. But for whatever reason, I
am very uncomfortable staying at other people's houses. So while, while I am kind of
chalking up, a lot of chits have chose, got Joe owes Josh, you know,
21 days, you know, room and board. I'm like. But I'll probably never cash that in. I like how we exchanged
14 for 21, by the way. I like that math that's good. Well, I mean, it's, it's like dog years. It's really interesting.

It's really not interest on the date. Not even that it's just
the more of the experience. It feels like 21 days when it's really. A calendar says we're using
like the calendar mercury ears I get where they're going here. Will you rent a house or stay in your
house once again, it's just better questions and envisioning more. I think there's another sub thing here,
which is that paying off your mortgage because for some people, if they have
a really low interest rate and they haven't saved enough, they may need
to take more risk with their money to get all these dreams to happen.

Uh, by doing, uh, interest
rate arbitrage, right? Run that mortgage out as long as possible
hope to get a higher interest rate. But if at all possible you see people
with more money, just trying to get your house paid off before you get
to retirement next up, uh, if your children fail to take good care of you
up to say 80 years, that's so good. And by the way, this is. Wait, what do they call it? A straw man argument. Okay. If your children failed to take good care
of you up to say eight years, who really wants their kid to take care of them. But anyway, uh, to what extent
can your own investments help you? How will you pay for your medical bills, stay healthy and still
live an independent life? It starts getting into, uh,
the longterm care discussion. Well, and I listened to you say
this, and I'm thinking of the different cultural differences
in the United States versus like far East far Eastern countries where it's
much more should say acceptable or, or expected anyway, even too.

Take care of the next generation. I'm saving money. So my mom doesn't have to live here. That's what I'm doing. Just point blank. Yeah, mom, I love you. Yeah, I know you have a really great longterm
care policy that I bought you. So look at this nice place
it's called bottom leaves. I love those names of
those places, by the way. Autumn leaves, sunset villas. What kinda, what kind of bull
comes up with those names? You know what I mean? Like, so I'm going to
create this business. That's gonna like, you know, help
people advanced age, take care of what do we want to name it? Sunset Sunset villas.

Autumn leaves. Let's call it. Let's call it a place for mom. One foot in heaven. No one in the grave. One on the banana peel. First step of the escalator. Yeah, not good. Uh, next question on this list,
how much are you saving now and how secured are these savings? Weird question. Yeah. I think you just go back to this idea. Oh, gee, that you begin
with the goal, right. Work back to today. What do I need to do
today to reach that goal? And we already talked about, instead of
having a discussion of do I save all my money in my Roth IRA, my traditional IRA. There's a discussion going on in our
Facebook group right now with, uh, with someone who said, you know, they don't
have a very high risk tolerance, so they don't want to save into risky investments.

And my first question
in that discussion was. What interest rate do you need
to get, to reach your goal? I think that's the first place to
start before you start talking about risk of your investments, because
when you start thinking about risky versus nonrisky risky, we're all not risky. I'd prefer to never take
any risk whatsoever, right? Yeah. How much are you saving now? I would change this question from how
much you're saving now and how secure to the savings to are you saving enough? To historically have reached
the goal in the right places to historically have reached the goal. What assets do you have now
that can create income for you? When you're unable to do active
work, we talked about rental houses. This is where annuities may come in. If you find a strip down annuity,
uh, that doesn't have, doesn't have all those bells and whistles
and is just a straight pension. If you're risk averse,
dividend paying stocks.

Taking money out of your investments
on a monthly basis, uh, selling off some, some investments. What's the strategy going to be? What would you do if
you lost your job today? What alternative plan do you have? I do like this switch back then to today. Don't you? Yeah. I mean, you're thinking of
it from the perspective of you've got all these goals and. Ostensibly, you need to have an
income to set some of it aside. So what happens if that
income goes away right now? This is what I think of
around risk management. Risk management to me is
exactly this, which is okay. If I don't have a job for three years,
what does that do to all these plans? I've set up.

And is there a way that I can lock
these plans in and not have to worry about being laid off for three years? Or can I lay myself off
right now for three years? And experience a little bit of that right now and still get it. The last three on here, I'm going to
lump together because number eight is what legacy are you leaving for
your children and grandchildren. Remember that compound houses and
residential facilities are no more assets. They deteriorate within a
short time, lose their value. Uh, I don't know what that is either. That's if you build a castle,
eventually the walls come from crumble. To what extent have you made a
difference in your family and the life of people in society? To what extent have you contributed
to making the world better? I think you should start there.

These are way too down at the bottom. And then number 10, how prepared
are you today to meet your maker? If death knocked at your door? Like, do you have insurance? Protection or do you have enough assets? Like a, and have you
done the right paperwork? Your, your estate plan
is your estate plan done. And what's your legacy
going to look like, like camp? You can't think about that
after the fact so, well, good list. Some of them some thought creating. Conversation creating questions. It's a step in the right direction. I think that, you know, in a lot of
these online forums, they spend in an ordinate amount of time talking
about the tools and not enough time OG talking about these types of questions.

So I'm with you. It's a good start we'll list these. Not only have a link to them, so you
can ponder these questions, but also have a list of some of the questions
OG and I think you should actually be asking and are our takeaways that
we just went through on our show notes page at StackingBenjamins.Com. Hey, trivia fans is Joe's mom's neighbor,
Doug, and while Joe and Oh, geez. List is pretty decent. I think it's about time. I dropped some knowledge bombs on y'all
that those two big podcast dudes might not want me to say, but since I care
about you and also because I'm definitely not crooked at all, hashtag Doug 2020. I'm just going to come right
out and tell you the 40 things you won't hear anywhere else. First don't retire. Just tired. You won't have to retire if you
get it right the first time.

Just do it one time. Yeah. You're welcome. Second, you're going to have a
lot, have free time on your hands. And if you decide to go ahead
and retire, which means lots of people give you all the time to
do more and more and more chores. Do yourself a favor, start working
up a long list of suitable reasons. You just can't help today. Like a I'm sorry. I have to go to the store. It's okay. I guess it sounds a little desperate. You asked me here's one. I wish I could, but Joe
said he needs my help stack. That was way better because
everybody know that Joe super needy and he needs lots of help. So it's believable, right? Or how about this little Pearl? Dang. I was just about to do that. Turns out the transmissional fluids
are out of alignment in the El Camino. That's probably the best one. Nobody can argue with that one. You got enough reasons to avoid chores that are lined up for you.

Trust me when I say fake. Again, you got to double whatever
number you're thinking you got to have twice as many before I get to my final
two items that are absolute musts, uh, it's time for today's trivia. Did you know it's GSL bunches birthday
today when she dumps that under a tree or Tom Brady, she'll be looking way for sure. Anyway, today's question is who is the
richest female supermodel of all time? I'll be back with your answer
faster than you can strut down the cat lock conceptually for
my shirt too sexy for Bashir during this time of need and suffering. If you aren't a first responder, you're holed up at home
and maybe your life feels a little empty.

Well, here in Joe's mom's basement,
we've been working to fill that void. You know what? You need more political ads. Hey there, stackers I'm Joe's
mom's neighbor, Doug international celebrity and host of the wildly
popular stacking Benjamins podcast. And I'm here to tell you. Now, while these other candidates are
busy with trifling matters of national importance, I'm here on the scene. Doing what good politicians do. Politicians running
nickname, pit politicians. I've come up with a 47 point plan on what
I'll do when elected and today I'm happy. Our team is I'm going
to share it with you. Announcer guy first. With an overwhelming groundswell
of support neighbor, Doug on day one of his administration would immediately nationalize video conferencing, software zoom.

Hey, I like capitalism as much
as the next guy, but we need a reliable platform to watch cat
videos and share tiger King beams. That's why I think the government should
take full control of this company, making sure that we all have equal
opportunity to gossip about the neighbors and that one relative, none of us like while
we're stuck inside, you know, second neighbor, Doug believes in safety. I don't know about you, but all
this indoor activity has me jittery.

That's why I'd immediately
use my executive powers to open all dairy Queens so that we can get
that awesome blizzard with the chocolate ice cream and Butterfinger pieces to all of our doors. It's an emergency. And finally, well. Not actually finally, because he's got 47 points here, but just read them announcer
boy though, she, uh, let's go with this one when elected,
Doug will focus on things that matter. That's why I propose
to have all sunny days. No whore, Corona virus
and peace between people. Yeah, except the jerks. Oh, and the bozos. Nobody likes the bozos and the losers. I mean, we need more winners. Am I right? So vote Doug 2020, because he's not crooked.

Hey trivia fans. I'm Joe's mom's neighbor. Doug, back to rock your world with
my final two points, you should probably write down for a better retirement first, or I guess, number
three, have you seriously had. The thought about what your
main restaurant of choice is going to be post retirement. This is a very big decision. You could join me in the crew, down
at the Sizzler, but I gotta warn ya. Mike, the managers always tell him
the worst jokes, super bad ones. Like, ah, where are you
going without paying? That's just a stupid joke, Mike or
a no, really don't send it back. The Awan sauce is gonna
make it taste way better. I such a Kidder gotta work on his
material, but he tries, he tries hard. I've never said steak back, but
my final recommendation, you don't want your kids to turn out spoiled. Right? So if you leave all your money to them,
that's exactly what's going to happen.

So for that reason, I suggest you change
your beneficiaries to the Doug basement foundation, where all your money. We'll go to improving the
life of your favorite podcast. Personality. Meet me. Talk about me. Imagine the trauma for both of
you and your favorite podcast. Or if you don't change
your beneficiary, you'll be hearing this your whole life. that's a sad song. You don't want that
hanging over your head. Now that you have the real scoop
on your retirement planning, get back to today's trivia. The question was who is the richest
female supermodel of all time. If you were thinking
Jazelle bunch of Nope. Wrong. She's number two. Don't worry. Jyzelle though. You're still number one in this guys,
art, but coming in at number one on the money list with a net worth of
an estimated 500 million dineros. It's Kathy Ireland before I spend any more
time talking about how being meant to be Tom, Brady's probably
going to just show up.

All right. In my kitchen and it calmed down, Tom, calm down. I got here. nice job there. Somebody knows their female models. No, it's more like just Kathy. Ireland's been around a long time and made a lot of money,
had an opportunity to make lots of money. I made a bunch of money, by the way, you
know, it's funny, the Kardashians OG get a lot of grief, but if you've ever watched
their show or dividend, or is it dived or dove dove into their brand, if you've.

If you dove into their brand, Devon, Devon into dividends into their brand. And I think its dividend in
their brand, what you'll find is they strongly protect them. And I remember seeing a, uh, or
reading something in a magazine about Kathy Ireland and her business
ventures and somebody else taking just great care of that brand. Yeah. Doing, doing a fantastic job. Hey, let's a throw out the Haven lifeline. Tackle, some of life's
most important questions. Our friends at Haven life insurance
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chocolate chip cookies. I'm sure you can smell them too. Try not to Jesse. I'm holding out Jesse. It's going to be impossible. Just so you know, they're like minis to them. I'm doing God's work here, Jesse. That family time. Yes. That's why it is your loved ones. Your time and cookies. That's why they've made buying
quality term life insurance actually simple had to stack your
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about the importance of insurance earlier.

Are you prepared to meet your maker? What happens if you pass away? Oh, gee, maybe you got
that nice looking family. Oh, gee. I imagine if you don't have protection. I do. Mrs. OG would be GB rich. Yes. I'm surprised she doesn't
have the pillow over you. Every night. Every night. Stop squirming. Their application Is simple. It's online.

You get an instant coverage decision
prices are affordable and mrs. OG could be a
multibajillionaire overnight. Toda. We're throwing out the lifeline of Matt. Say hi, Matt. Hi Joe OJI, Matt from New York here. You may or may not remember me
from the New York city meetup. I know. I barely remember meeting you guys. So thanks for that. Anyway, I thought that my employer won't
be giving a 401k match next year, and I wanted to get your feedback on some
thoughts I had currently I contribute 15% to my 401k with another percent to my HSA. Without the employer match. I thought I could get more bang and
flexibility for my retirement book by taking that 16% total max out my
HSA and send the rest into an IRA. Not that I would ever consider pulling
money out of my retirement savings early, but in the worst, worst, worst, worst case scenario, I thought it'd be
nice to have some money in a bucket that wouldn't come with a
withdrawal penalty on contributions.

Let me know what you think
and if all else fails. I can put it in an all
equity, New York city meetup bucket. So we'll be rolling in it by the
time the bars open back up here. Thanks for nothing. Love it, Matt. And, uh, we barely
remember you too big guy, but I just think it's funny. Like, can you seriously remember that? I mean, that was in June at the end
of January, we were in New York city. It is so weird and it was just like New York. Do remember the people, like I remember
the fun we had the people were. So I'm just saying like how ironic it is. I feel like it was 47 years ago. Yeah. Yes. Remember those times when we could have
meetups and now find that was, uh, glad to hear your voice, Matt, this idea. Oh, gee, no employer match here.

What do you think. So, um, I really wasn't
paying too close of attention. Um, I was just reading the Twitter. This is the thing, this is a bad thing. I don't know if you noticed
and we answered some questions. I'm multitasking. Uh, but I guess the general gist of
it was should I stop my 401k or reduce it and put that money elsewhere? Yes. Yeah. I knew that's what it was coming. That's why I didn't have
to pay attention to see. Brilliant that's for these questions. Just brilliant. Uh it's you know, it's,
this is tomato, tomato. I really think it is. Um, the only difference would be, you
know, the after tax component of it.

If you're doing the pre tax
401k, you know, you're going to take home a little less. Then dollar for dollar. Right. You know, so if you make it be able to save a little
less right now, if he does. Yeah. If you, if you're making a hundred
grand, you're putting 15,000 in your 401k and you say, I don't
wanna do for 15 grand in my 401k. I'm going to do that 15 grand
into my brokerage account. Instead, we'll just recognize that
that's, you know, you're going to have an impact in your tax
bill a little bit along the way. Um, the other thing to remember is
that it's kind of hard to undo stuff. Once you do it. You know, so if, if you're like,
well, I'm going to reduce it now and then I'll up it again later. And then if he changes
it, I'll change it again. Then I would rather you just leave it
and just be fine with the fact that it is where it is now, if you don't
have some good diversification as it relates to taxes, if you haven't.

Started other accounts. Well, maybe it makes sense to kind
of split it up a little bit, but I would give you just a different
challenge rather than saying, what do I do with this bucket of money and
trying to split it up 32 ways, just go create a different bucket of money. It sounds really silly to say,
but can you force yourself to save another a hundred dollars a month? So instead of moving money from one pocket
to the other, can you create this other bucket outside of your workplace plan? With new savings, saving 15 grand
a year, try to save 16,000 a year.

And of that. Extra thousand, put that thousand in
your brokerage account or something, you know, or whatever the number is,
but, you know, regardless of where you put the money, like we talked about
earlier today, it's six, one half dozen. The other, you can argue the tax
benefits one way or the other fine, but. The act of saving is the
most important thing. What I do like though, that you're
thinking about Matt is this idea of what we call the techs triangle, which is
having some money in different buckets. So you're not overloaded in retirement.

One way as an example, you'll
see a lot of people that save all their money into pretax 401ks. Well, when you, if that's all the money
that you have in retirement, when you get there, you've got two choices. You either eat and pay the tax. You just don't eat because you don't
have any, or you go live at your cohost house and they feed you cookies argument. That is the other side of it is. But if you had 40 million
in your IRA, Oh my God. I gotta pay tax. It's like, who gives a crap? Yeah, but I still like being
able to optimize, like, this is, this is the two Oh one. So I think having some money
that's pretax some money that is. After tax, like in a Roth IRA
as an example position where I'm not going to pay taxes. And then the third where it's
just completely flexible.

We've got a question last week, the
week before about having money in a, just a regular brokerage account, right? Yeah. Putting that money. You're going to pay a little bit of
tax every year, depending on what you haven't invested in, but that
money you don't have, you don't have to worry about the tax consequences. You can just take it for
whatever goal at whatever time. So having all three of those,
I think is pretty important. I like taking all three of those. Buckets and putting them in a triangle
and see which one of those wheels is the biggest, which corner is the
biggest and kind of have a strategy where you juggle those plates a
little better, but I totally agree.

Oh, gee, create that from new savings if you can. Yeah. Yeah. You know, build up the new one. Challenge yourself. Oh, gee. Gone with the option. Uh, number three here. Right? Option number one, do I do the same thing? Option number two, do I
do something different? Oh, gee. Pressing the foot on the gas. I double dog. Dare you, Matt. We do remember you, Matt. We double dog. Dare you. To just save more money. Do you really remember, Matt? Are you just saying that? Of course. I don't remember, man. Okay. That's horrible. Uh, thanks again, Matt and good
hearing your voice, uh, by the way, that was such a fun meetup.

And for, for a last minute meetup,
I think we knew what a week ahead of time we were having that. That was, that was really fun. Hopefully we get to do
another meetup someday. Actually I do like that idea,
the best Matt, put it in a bucket and save it all for the next
meetup and a beers are on Matt. All right. That's going to do it for today. Big, thanks to not just Matt,
but everybody hanging out, both other listeners for joining us. Thanks. Everybody has left us a
review of this year show. So people know what they're getting into
when they listen to Stacking Benjamins. Last of course, but not least is
that if you need better help in your corner, you listened to the way that
we talk about retirement planning today and you think, man, I'm not
asking those types of questions.

Well,OG and his team are taking clients. If you need better help in your corner,
then you can just get on a podcast, head to StackingBenjamins.com/OG and
that will lead you to, he, him and his team, we did him and his team. Yeah. Questioning all my English to all right. That's going to do it for today. Doug. You got it from here, man. What should we have learned today? So what should we have learned today
first take a lesson from our headline, buying a product to reach your
financial goals, start with the process and then choose the right product. Second, take a lesson from our
retirement planning discussion. There are a lot of factors that go
into retirement planning to start today and take things one step at a time. You'll be happy you did,
but the big takeaway. Don't try to talk, Tom Brady down
from all the talk about his wife, man, that guy sure can't take a joke.

All I said, all I said was
Giselle's husbands face is only worth $2 cause he's no buccaneer. He's got two buccaneers. Tom. I didn't write the joke,
I swear to God, man. I just read this stuff. It wasn't me. This show is created by Joe
Saul-Sehy produced by Richie Rutter-Reese, and engineered by
the amazing Steve Stewart online. Visit us on Twitter @SBenjaminsCast or on our Facebook page. I'm Joe's mom's neighbor, Doug,
and I'm pretty much the guy in charge of everything around here. Trust me, this is a well oiled machine
didn't get like this all by itself. SB podcast may receive payment on
the show from sponsors and guests in the form of books, giveaway items,
discounts, or other remunerations.

That's a big word. There's no way you take advice
from these dorks, but like Joe's mom always says, don't take
advice from people you don't know. This show is for
entertainment purposes only. And before making any financial decisions
consult with a real financial advisor, Welcome to the after show. This is a part of the show doesn't
exist while we were waiting there. I showed a piece of cheese in my
mouth because nothing is good for podcasting, like eating and talking. We had that once and we got yelled at wheat tickets. I didn't think about it. I didn't think about that. Sorry person. Um, but we were kind
of overemphasizing it. But you don't like pizza. I just found this out. You don't you're you're
not a big fan of pizza. No, I like pizza. I don't need it every, I mean,
I've had it twice in the last month, which is why are you not American? That's my question.

Exactly. Americans like pizza. Exactly. Do you like hot dogs? Not particularly. Are you kidding? Do you like Apple pie? Yes. Well, not a three, but not baseball, so. Okay. Do you remember when we won those
tickets to the Rangers game and we went to the Rangers game, we sat behind home plate second row. Yeah. I have two memories of that game. One was, it was like 14 to nothing
at the end of the first inning. Yes, it's the Rangers just blew
out whoever they were playing. And then my other memory
was about a month later. I called you up. And I go, dude, I think somebody
hacked the American express card and you're like, yeah, why? And I go every like 11 minutes. On the 17th from like four o'clock in the
afternoon until seven o'clock at night, every 11 minutes, there was a $26 charge. Yeah. We were like clockwork. It was hot that day.

I remember. No, I don't remember anything. Those are the only things that I remember. It turns out $26 is the exact
price of two beers who knew. Yeah, it was just like teaching teaching. She was like 26, 26, 26, 26, 20. We made some, we made a pretty good day. Yeah, we did it. We did a nice job that day. Big, big, thanks to Uber. Yes, you're right. Both ways. Yeah. So, uh, yeah, pizza, but just it's. So the whole family Cheryl told me
that we're planning a pizza night for tonight and you're like, I
would have never signed off on that. Yeah. I still might not. I might order a steak. You guys can have pizza and I'm gonna
eat a eight ounce filet cooked medium. And by the way, with cream,
corn, and snap peas, or you guys have your pizza, go ahead.

Well, crack a bottle of wine, exactly how you're going to eat it. I'm going to be sitting there munching
on pizza and just feeling weird. You know, you have those weird feelings
sometimes, like somebody's staring at you and I'm going to turn and you've
got your fine China, your glass of wine, and you're taking your fork
and you're putting it into the steak.

And you're slowly putting, if I talked about my pet,
my biggest pet, I mean, we haven't gone out to Eden like freaking six months. We could do that. That was so fun to do take out, but we
haven't actually gone. I think, I don't think that
we've actually gone out, sat in a restaurant, sat in the restaurant. I even think like when everything
was back to normal in may I don't, I mean, we've done takeout. But really, but not actually
sat in, have you sat in a room? Well, I guess in Northern California, I did, we were
the only people in the dining room. It was at our resort. We're the only people there,
there were, there were actually, there was another couple. They put them way. At the other end, they
had like a bar area. They put them in the bar area.

They put us in the dining room. Cause we had a bigger group. There were six of us. Oh, you know what I did. I collected from each, I did a. Yeah. And you were successful with that? No unsuccessful. Thank you. Thank goodness so far. Um, but anyways, yeah, maybe we
had one, but was a similar extent. Anyway, I told you about like the
thing that I hate the most about eating at a, at a nice restaurant. So first world problem. Let me tell you the one thing
that I hate when I go to a very nice site, I got 99 problems. Yeah. So, have you ever had this happen
where the server will come up and, you know, you order your food? I almost always do the whole thing about server come up.

You're talking about where they grab
the cash register by both sides and say, can I help the next person in line? That's what you're talking about. Hi car, where you're like by server. You mean when you grab your plate and you
scoop your own salad onto the Ponderosa, they don't do that anymore either. I don't think so. Yeah. FES are gone anyways. When the server will say, could
you cut into the middle of your steak to make sure it's done right. It's like nails on a chalkboard and
have the same response every time. Did you cook it correctly? You just look back at them? Yeah, let's go. Did the chef cook it correctly? Uh, yeah, I'll go then I
don't have to check your work.

Hold on. This is, Oh, and the waiter. Uh, I know what you're thinking. You've got to ask yourself one question. Do I feel lucky? You said about steak don't you. That doesn't even seem like
that was the real movie. That is, that is the
real dirty Harry 1971. What I'm doing here. Yeah. So I always say, no, thank you. You know, I just, I mean, I do
say, did you cook it correctly? And they stammer for a second? I think you should look at him
just like dirty Harry here. And you should say, listen, I
don't know if you cooked it.

I don't know what number
you cooked it at before. Yeah. But if I go into the
state can, it's not right. And you wreck my steak for me. I got one question. Do you feel lucky? Yeah. Punk, but it's not the server's fault. It'd be the chef's fault. No, but the server's gotta be confident. That's what I say. And I, I just, I'm very linear
process oriented eater of cutting the middle of my steak. It's like ruins the whole vibe. My favorite, my favorite line from
you that I've used on multiple occasions at a restaurant when
they bring out the wrong thing. Or what you want to eat, what you get. Yes. Yeah. Otherwise they spit in your food.

Well, it's not that you can't do that. Cause then everybody gets her on us. They're like, Whoa, wait,
are you can't spit this food? Yeah. Well, yes I can because I
just gargle with salt water. The, um, the time that this backfire
totally backfired one time, but they, a guy came out, fighting the,
I said, no, I'm not going to do that. So I'm sure it's fine. He's like, well, we really want
you to cut in the middle of it. I'm like, dude. I'm going to assume that
you cooked it correctly. Good day, sir. Off you go. So then I start eating
and it's not cooked. Right. And it wasn't covered on, so I'm about two
thirds of the way through it, you know? And you go out to eat. I never eat the whole thing. Anyways, someone takes them home. It was, Hey, how was everything? I go, Hey, mr. Mark, on steak. He's like, what, what do you mean? I said, you miss just missed the Mark A.

Little bit like a medium. This is clearly medium. Well, Oh, well, let me, let
me, let me get the manager. I said, I don't need the manager. Let me make you another steak. I'm like, what am I gonna
do with another steak? I already ate two thirds of this one. I'm good. Like, it's fine. It's still tasted fine. Just wasn't you know,
perfect manager comes over. Hey, here are you have a
problem with your steak? Like really loud. I'm like, dude, I don't want, I
don't have a problem with the steak. Now I'm defending myself. Right? I'm like, Oh. My steak is good. I'm like, just go, you
know, it's fine enough. I'm good. Yeah. I'm not, I don't want another one.

I don't want it. I said a thing. I don't want any apology,
please just leave me alone. I'm trying to enjoy dinner. I don't want to, you know, I had
an ex husband, the chef came out. Oh, I heard, he didn't like the steak. I said, what is this? A telephone game? None of those things are true. And then the bus boy came out, sir. So then he says, he says, well,
let me get you a free dessert. I said, I don't need free dessert. So they bring out like two alcohol
milkshake, dessert things, free desserts. Yeah. Which was like coconut and Oh yeah. Like just like, it's just
a weird hodgepodge of. Of flavors and then we
didn't drink those either. Oh, did you not like dos? Yeah, not really. Actually. Let me get, you know, give me the bill.

I want the bill, just
the bill would be great. It sounds so elitist. I know it does. Did they charge you for it though? Oh, absolutely. Of course. Which is even better..

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