Saving vs Investing #163

think sometimes we use the terms improperly. And so in this episode, we're gonna talk about what saving actually means and when you should be doing it, and what does investing mean and when should you actually be doing that. Yeah, there there are a lot of factors that go into deciding when you should be funneling your money towards savings, when you should be funneling it towards investments, and so yeah,

there's a lot to discuss here. I think it's gonna be helpful when folks were thinking about whether they should be contributing more to their Form one K or patting their savings account a little bit more so. Yeah, so I'm looking forward to getting into all the specifics on this topic. My friend. Before we get into that, let's discuss filing your taxes real quick. Yeah, because that's always fun, right, everybody loves tax season and it's upon us now. Yeah, dude,

it's full on tax season now, right. Everybody's getting their W twos. If you're employed, maybe you're getting your ten ninety nines from your bank because you earn interest on your savings exactly because you have high interest savings. But it's it's full on tax season. And we wanted to mention this because the i r S Free File is

now officially open for business. Right. This is at i r S dot gov and that's where you can go on and if you're gonna have a pretty straightforward tax return, that is a great place to go to be able to file your return for absolutely free. Yeah, and there are a few places you can go to fire your taxes for free that we wanted to mention. I r S Free File is one you have to make under a certain income, which is actually sixty nine dollars adjusted gross income this year to be able to file your

taxes for free through the free file program. You can find that at i r talk of there are other places to where you can file your taxes for free. And I just wanted to mention to people to be aware when someone says free federal filing, that doesn't necessarily mean your whole tax filing is gonna be free, right, because there's a state filing too that you have that

has to be done. And oftentimes when they tout free federal filing, it means they're going to try to charge you for the state filing at the end of it, and by the time you're completely done filling out your return, you're just gonna give in and succumb and do it because you don't want to be already done it. You don't want to go through that process again exactly. Well. Yeah, Well, that being said, credit card attacks, that is one spot where you can file for free federally and at the

state level. But again, make sure you read through the details there to make sure what they do not include. Uh. In turbo tax, they have a free edition as well. If you have a really simple return, right like if you're on the standard W two income and if you know you're gonna take the standard deduction, for example, which is the vast majority of folks listening, you're probably gonna take the standard deduction. Uh. Those are some of the qualifications to be able to be eligible for the turbo

tax Free edition. Yeah, and sometimes some folks you might need depending on how complicated your return is, helped from a cp A. You know, we talked about that with our our friend Keith back in December. We talked about not messing up your taxes and so, Yeah, for some folks, they might want to choose professional help. But again that's Turbot tax free credit card attacks I r s dot gov for the free file. If you choose any one

of those routes, you'll be good to go. Yeah. Well, I doubt many folks are excited about taxes, but we wanted to mention this as a little friendly reminder for everyone out there. You know, you love nerdy stuff. This is something I actually do enjoy. I was gonna say, I'm surprised you haven't offered a free service for our listeners to do their taxes for them. Yeah. I like doing my own taxes, and I like doing our corporation taxes. Like stuff that involves us. I'm into that because I

like to understand things fully. Other people's numbers. I don't really care about that. Alright. Well, best of luck to everyone as they file their taxes. Just make sure you're not overpaying to get those taxes done, all right, Matt, let's mention. The beer we're having on the show today are good friend Josh sent us a beer by Barrelhouse Brewing Company called Kong Double Hazy I p A. It's got Donkey Kong on the front, pretty spee label and everybody knows we like Hazy I PA. So I can't

wait to crack into this one and this label. This beer totally makes me think of King of Kong. Did you ever see that movie back in the day. That's one of my favorite documentaries of all. Okay, it is amazing. If you've ever seen King of Kong, be sure to look it up. It's about these two nerds duking back and forth trying to be the world champion at the

arcade version of Donkey Kong. Yeah, a fantastic movie. And honestly, when I first saw the guy who's kind of the hero that you're rooting for and the guy who's kind of the evil villain who you're rooting against, their actual real life people. But they couldn't have been cast better, honestly, because they're perfect and you're so like invested in the

throughout the whole process. It's such a good movie. I mean, really, dude, it seems like one of those made up documentaries, right, like the mockumentaries I'm thinking of a Mighty wind or Best in Show, hilarious, completely made up, like they're not documentaries at all, But the story of King of Kong like it just fit within that mold so well, it's hard to believe that it's real life, completely fictations, crazy

that it was real life, but so so good. So anybody who hasn't seen King of Kong go find it somewhere streaming. It's a class, it's excellent. And we'll give our thoughts on this beer at the end of the episode. But Matt, for now, let's get onto the topic of hand. We're talking about saving verse investing, and the question on a lot of people's mind should I be saving or investing my money? And what's the difference. Well, folks get confused with these terms, and of course they do, because

they're often used improperly. For example, we call it saving for retirement, but actually, I'm sure I've said that before. I know I have to, I know that that's been the case. But what we actually mean when we say saving for retirement is investing for retirement and saving and

investing are both important. They both have their place. It's best to think of saving money as kind of protecting your money, right, you're locking it in place, you're making a small return on it, but you're not taking any chances. And then investing, well, it's best to think of that as growing your money over a long period of time.

But we should ideally be doing both simultaneously. We really need to be allocating money into both savings and investments in order to meet separate goals that we have, both short term and long term. Yeah, man, I mean, just like you said, we're fans of both saving and investing. But the m arises when we have a goal that we should be saving for, but instead we're investing that money. Right, So, typically we are saving for more short term goals, maybe to have a nice down payment for a home, to

buy a car in cash. Even going on a sweet vacation can be something that you are saving towards. And keep in mind that some of these goals can take a few years to achieve, but in all those examples, you likely want to be saving your money. The other half of the problem is that sometimes we're saving money when instead we should actually be investing it right, We're investing for a longer term goals like being able to

quit work or help our kids go to college. Those are all goals that are more than just a few years in the future. So we're gonna be a few considerations the things that you need to consider before you determine whether you funnel that extra cash towards your savings account or towards the investment plan, whether it's an IRA or four O one K through work. These are the questions you're gonna want to ask, Well, first, what is

my time horizon? And that is actually the main indicator, the most important thing you need to think about when you're deciding where to allocate that money. If you need that money within the next five years, then you're definitely a saber. There's just too much fluctuation in the market. When you need your money back in a shorter time period. Markets can swing quite wildly over a short period of time.

That's normal market behavior. The ultimate trajectory over long periods of time is up into the right when we're talking about markets, Matt. But if you're investing and you need that money back in two to three years, you could lose a whole lot of your principle, right, Yeah, Man, if you are investing, you need to be able to stick it out for the long haul because the ultimate trajectory of American businesses is one of strong growth, right, Like, we can ride out those shorter swings if we have

more time at our disposal. We think that if you want to be an investor, that you're looking at a minimum time horizon of five to seven years. When you look at the historical returns, there is a much higher probability that your money is going to grow, but you could still lose money in that time period, right. That's why they always say that past performance is not a guarantee for future returns, right, So you have to understand that there is still some risk even with the timeline

of at least five to seven years. Ultimately, the biggest risk is not investing at all and watching inflation erode your savings. Yeah. It essentially makes your money worth less and less over time as the cost of goods goes up, and the return that you're making on your savings is minimal and probably pitiful pretty much right now these days

for savings, rates are terrible. So if you're only saving money, and you're not taking any risk, you're not investing for the future, then you will see the value of your money degrade over time. But if you need access to that money in just a few years time, you just

can't take the risk of investing it. And by the way, man, there are a lot of people that have done a lot of good number crunching when it comes to investment returns over time, and it's interesting to see that typically over a five year period, typically over a ten year period,

the American stock market does really, really well. There are some periods though, right where let's say you do need your money in seven years, there are some periods in the past that the American stock market has actually declined in over a seven year period where there's a negative return. Yeah, they're rare, they're few and far between, but they do exist.

So that is something to know. Even though we're advocating a timeline along those lines, if you don't need that money for at least five years per completely seven, you should be investing. You know that there is still a chance that you will have less money than you started with if you chose to invest instead of save. Yeah, Joel, So that is an important consideration right there. There is not a guaranteed that you're always going to grow your

money within that five year time period. It's definitely something to consider. And there are some other considerations as well that we want you to be keeping in mind when you are deciding whether you should be saving and when you should be investing. We're gonna get to those right after the break. All right, Joel, we're back from the break talking about saving versus investing, and man before we dive into more these other aspects that we want folks

to keep in mind. I think sometimes the trap that we fall into when we should be saving our money but instead we're investing, is because savings sounds so boring, doesn't it Like it is not sexy at all? Or as investing that seems like sophisticated and polished, you know, like saving that sounds super passive. You're just kind of I'm just saving my money, You're just squirreling it away. Yeah, you're not really doing anything exciting with it. I know.

That's what happened to me when I was younger. Actually, like when I started my roth Ira for the first time, I heard that that was something that you're supposed to do. I had zero money in savings in the bank, like, I didn't have an emergency fund, nothing. But I started my roth IRA and that didn't pan out so well because I had a tap that money because I was broke right after college and I completely withdrew those contributions

and that's just not the best move financially. Sure, yeah, yeah, I mean the roth IRA is nice because it has a little bit more flexibility. Right, you were able to tap those contributions, and we'll talk about that in just a second. But typically retirement accounts offer very little access to the funds once you put them in, and that brings us to the next thing that you really have to consider before you decide whether you're going to be

a saver or an investor, and that's liquidity. Liquidity is basically saying how easy is it to access the funds that you're putting away. Investing your money will make it harder for you to access. Retirement accounts have rules to prevent us from treating them like piggy banks and saving these accounts, right, You're gonna be subject to access and fees if you pull money out of a traditional IRA or a four oh n K. There are so many issues when you're trying to access retirement funds before you

hit retirement age. So you better be darn sure that you are okay not touching that money before you put it inside one of those accounts. And this is good because you want the money you have invested to stay put and work for you over a long period of time. And by the way, man, if we're talking about investing in real estate as opposed to investing in the stock market,

well that poses pretty major liquidity risks to write. Like having an individual property and then trying to sell it, Well, you're gonna pay commissions to a real estate agent and that house could be on the market for months. So the same thing goes when you're talking about investing in retirement accounts or investing in a single family home. Either way you slice it, investing your money is going to prevent easy access for you using that money in the

near term. That's right. And the rath Ira, just like we just mentioned, right, it does offer a bit more of the middle ground here, like and that's part of the reason we do like it is that you can withdraw contributions at any time for whatever you want. But just keep in mind that this doesn't mean you should,

but you can. Yeah. Like, just like you said, Matt, you were able to withdraw all your contributions and you didn't lose money, But that might not be the case for a lot of people because I've been a down market and I would have lost a lot of money. Dude. Yeah, if there's a bad six month time period and the stock market goes down, well, you can still pull out your contributions. There's just less of your contribution sitting there

for you to pull. Yeah, And we're also not fond of taking out four O n K loans or tapping a retirement account like a traditional IRA. We would recommend that you consider that money untouchable. And so if you think you'll need access to those funds earlier than you're late fifties, that just don't invest that money into a

retirement account. You can still invest that money, but maybe you would want to invest that in a brokerage account where you won't get penalized for making those larger withdrawals. You'll just pay capital gains tax on the earnings. But if you have a longer time horizon, a roth IRA or a brokerage account are definitely good ways to funnel

your money. But Matt, when it comes to liquidity, when we're talking about savings, while popping your funds into a savings or checking account means you can grab it basically any time. Right, there's no hoops to jump through. You don't have to sell any funds in order to liquidate that money. And if we're talking about a rental house, you don't have to put it on the market and go through all that rigormarole. You can just grab the

money when you need it. And this is obviously great if you've been house hunting and you're looking for like the perfect deal to pounce on. That money is ready to go, it's sitting there in your account. But this is also the biggest downside to money in our savings accounts. It's ready to go, it's right there for us to access, and it takes more self control and discipline for us not to blow that money. So when we're talking about liquidity, right,

there's like a good side and a bad side. It's very good to have access to liquid cash in case an emergency comes up or we're actually saving for a goal. But the flip side of liquidity means that it's easier for us to access and maybe we choose to access it for a reason that's not actually beneficial for us, And and that would be the time we're having your money stashed away in savings or a checking account can

actually hurt us. We might be tempted to buy stuff with it today instead of setting it aside and investing it for the long term. That's right, You've got to have a little bit more discipline if you're gonna have a beefy savings account, so Joel. Another major difference before we decide whether to save or invest our money is rate of return. When you say your money, it's not going to make you wealthy, right especially not right now. In fact, rates are so low currently that we're not

even earning enough to cover the rate of inflation. We mentioned this on a recent Ask How the Money episode, But savings rates have been dropping, which is a huge downside to putting your money in savings accounts right now. They won't be crazy low forever, but it's hard to know how long rates will be depressed. But honestly, that's just the price we have to pay right now. If you want to have easy access to money, because you

want to use that money for a short term goal. Yeah, you just gotta deal with declining savings rates, and it stinks. And I think that is one of the things that is tempting probably more people to invest our money instead of saving. And it's like declining rates, the stock markets booming been blowing up. Maybe I should be investing more of my money, and maybe you should be, but also

maybe you shouldn't. Right, So let's talking about investing the rate to return there, that's something we do need to take into consideration. Investing is attractive because we can get much higher rates of return over time. For instance, Matt SMPI return last year. I mean, that's incredible, right, and you're pretty sweet. Yeah, your average savings account had a return of what probably two point I'm guessing it's way

less than that. Okay, national average is much much lower, but I'm talking about our high interest savings accounts that we talk about. Yeah, those were up near those lofty rates or semi lofty lofty rates of two and a quarter. Yeah. Yeah, but now they've dipped down to the one point seven

one point eight range, so they're they're even lower. And just seeing that stat might make you say, all right, I need to be investing more in my money, but you can't predict the immediate future, and the exact opposite could happen this year. So rate of return is a known commodity when we're talking about savings, but it's very

unknown on a short time horizon. If we choose to be an investor, investing can lure should be savers because of the promise of greater returns, But that can also put us in an uncomfortable position by investing money that we need liquid access to. So if we're investing in that manner, if we're thinking of it on a short time horizon, then it's more like gambling. It's it's less making a wise decision for the future, and we're taking

a bad approach. We're basically gambling on term economic results. And Joel, you mentioning last year's rate of return right in the stock market, it makes me think of not just last year, but the past eleven years. Like I think about all of our listeners who maybe have only known a bowl market. Maybe they got a job right out of college ten years ago, eleven years ago, they graduated in No. Nine right like this investing things easy? Yeah,

this is so easy. You just put your money here and it grows like crazy, because that has been what we've seen over the past eleven years. But we know from history that this is not normal. Like, I'm not at all saying that the market is going to crash soon, but this upward trend of eleven straight years of growth is it's not normal, and it's not something that we can count on. It's literally the longest bowl market in

United history exactly. And so I think if we get too comfortable with that, or if that's all that we're looking at, we're only looking at the past decade, we're gonna think that, well, of course I can throw money into the market for the short term, it's only gonna

go up. But that is not the case. And so if you end up investing that money in an attempt to maximize your profit, well, if you need that money for more near term goals, you might find yourself in a tough position when the time comes for you to actually withdraw that money. If we've seen a market correction, yeah, man, I mean talking rate of return, that's definitely something that

we have to take into consideration. And you're talking about the exuberance essentially that people can have correlated with investing in the stock market. The same is true in the housing market. And I think sometimes people assume that just because things have gone well in housing boom, I should get in there, I should invest my money. I need

to be a part of that. But just know that again, prior history, the past five years or ten years of performance in the stock market or in the real estate market, that doesn't mean you're going to see a similar trajectory over the next ten years. You might, but there's a good chance you might not too. So yeah, so just be careful before you actually invest. Know that the rate of return is an important consideration, but your timeline is

just as important. Yeah, so true, Joel. All Right, well, after the break, we're gonna get to some action steps things that you can actually do when you are deciding whether you should be investing your money or saving your money. All right, that we're back. We're talking about saving versus investing. Their benefits to both, but their pitfalls to both. And so we've talked about the time horizon, liquidity, rate of return, but we gotta get into risk. There's risk on both fronts,

depending on which one you choose. So the reason you can make a higher rate of return by investing your money in the market or in real estate is because of the inherent risks that come along side of that. More risk is basically accompanied by higher potential reward. So if we're talking about savings, well, there's not really any risk, right if we only do business with banks that have fd i C insurance and we keep our total assets at that bank under the fd i C insured minimum,

which is two and fifty thousand. So if you've got more of that inta pretty big fund. Yeah, if you've got more than that in savings, you probably should be investing more. But the biggest risk here is opportunity cost and seeing our savings getting nibbled down little by little by inflation. And that's why we need to be investing and not just bulking up that savings account into the

hundreds of thousands of dollars. Yeah, that's right. And when it comes to invest there is a lot of short term risk when we're talking about investing your money right due to the natural fluctuations of the market. We cover

this back in episode sixty nine in greater depth. But the longer that you're able to sit tight and stay invested, the less risk you'll realize Joel, you know, earlier in the episode you're talking about once you hit seven years, there is a much less chance of you losing money in the market, but there is still some chance, right you get to ten years, and that risk is even smaller once you get to fifteen years. There is no

fifteen year period of the stock market declining. You're pretty much guaranteed to earn money, and not just a little bit, but chances are you're gonna earn a lot of money. And so the risk that's involved when it comes to investing has to do with a short term. There's also significant amount of risk if you're considering single stocks. We talk about this all the time. But the way to combat that is to look too widely diversified low cost

index funds. There are ways to avoid the inherent risk that comes with the stock market, and again we'd recommend listening back to episode sixty nine where we really dove into you know, what we perceive as risk, but actuality, What is the real risk that we're facing? Yeah, man, and I think honestly, some of this kind of comes down to personality type, and sometimes studies show that it

comes down to gender. Women are typically a little more conservative when it comes to investing, men might be a little more exuberant. And both you you were way more prone to invest in beanie babies. And I mean, I got like five thousands. I'm just waiting for the market to bounce back on beanie babies, like I know the market is gonna go up. I saw those boxes of bay Blades in your trunk to rite exactly. Man, how

do you know all the children's toys? You know? Well, I know about bay blades because when I was a kid, I was really into battling tops. Did you ever play with us as a kid, I don't think so. I played to POGs back in the day at pods. The battling tops were virtually exactly like bay blades. Today they're just called something different. So it all comes around, man, Okay, all right, Yeah, my my nephew played with bay blades

at least for like. But but basically, yeah, it depending on your personality type sometimes your gender, you might have different propensities. You might be a little more conservative by nature, you might be a little more prone to risk. But hopefully the things that we're lining up your time horizon, liquidity, rate of return, and risk if you think through those things, well, we're gonna have some solid ground to land on when we're deciding whether or not to invest our money or

save our money. And for those of us who are a little more prone towards being savers and we get scared of investing in the stock market, well hopefully this gives us a little bit of a push to actually

start getting invested. And for those of us who are a little risky by nature and we go too hard in the investing direction and we don't have any left to save for some of those short term goals, well maybe we back off what we're dedicating towards our retirement accounts and we prioritize saving for some of those short

term goals a little bit. So yeah, either way you fall, whether you have higher tendency towards being an investor or a saver, I think these principles, taking these things into account can actually help us make a better decision about how we're gonna allocate our money. Yeah, and so the next question that listeners might be asking themselves is, Okay, like I've decided that it's time for me to save or I've decided it's time to invest or both. Yeah,

where do I go right? And so when it comes to saving, we would recommend that you check out the different online banks who offer those high interest rates. There's tons of them out there, but they are our favorite spot for putting your savings. The competition is robust, and so you know to narrow it down, look for great customer service and those competitive interest rates. Joel, you've got a great article on the site. They're talking about why you opened an account with c I T. They are

a great option. A lot of folks might be wondering why we're not mentioning, you know, the local bank or your local credit union, and that's because, first of all, they're not offering great interest rates. Secondly, their online banking can be a little lacking. Uh. They offer great loan products when it comes to the interest rate that they're offering when you're looking to borrow money, but when it comes to you know, the interest rate that they're paying you a lot of times, it's not going to be

that great. Yeah. I love credit unions for borrowing, not awesome for saving, But the worst for saving is the big banksy of course, so online banks are a good place to start. C I T S great discover Ally Matt. I mean, there's so many good ones at this point. Marcus. Another person recently left us a message and asked about their Marcus account. I mean there there are a lot of great places to go online to get a decent savings right now. Just yeah, make sure you prioritize customer

service at the same time. So when we're talking about investing, well where should you go? Then well, your work retirement account is a good place to start if you have one, and especially if you have a company match, and at a minimum, you want to prioritize getting that match. If you're investing on your own, go to a low cost investment house Vanguard, Fidelity, SWAB and in one our favorites, open up a WRATH or a traditional IRA and invest in low cost funds. And there are other ways to

invest besides just retirement accounts. Real estate is another thing to consider. We've talked about that in the past. But just know that investing there are a lot of great places for you to land. Don't go on the recommendation of maybe someone who's helped you buy insurance before, or maybe even just a friend. We would highly suggest the low cost companies that we just mentioned and also remember as well that you don't have to be saving or investing.

There can be a happy medium. The rath I RA can give us a little bit of flexibility and allow us to become investors on a slightly shorter time horizon since we will have access to those contributions like we discussed earlier. But just keep in mind that in a say US account, you can't lose your principle, right, like you can't lose your contributions, but you can when invested in a WRATH. Right. There's all these trade offs that you need to consider that we've talked about through this episode.

But just make sure you keep that in mind. And a lot of folks might be wondering about c d s Certificates of deposit, and in that case, we would recommend to not even really consider CDs because the rates that are being offered right now, man, they're not much higher, if at all higher than the high interest savings rates that are being offered by the online banks. So you can kind of skip those all together and not have your money tied up for a year, three years, five years,

whatever it is. I think CDs used to be a little more beneficial. They just seem like they're kind of dying on the off the wayside. Yeah. Yeah, And because the online saving US accounts have become so good and they're paying such high rates. So now that we know all the risks associated with saving versus investing, we know where to go. Well, what do we do now? It

depends on what our individual goals are. If you don't yet have an emergency fund, well, you need to have an emergency funds saved of at least two thousand, four hundred and sixty seven dollars to six seven. I love that number. I know. I love that specific number two that we can give people to shoot for, and I think it's helped a lot of people matter as we've put that out there, they're like, Okay, it gives me

just a specific amount that I need to hit. Yeah, It's it's so concrete, and I think that's that's the beauty of it, right versus saying, oh, you need to have three to six months worth of living expenses. It's like, okay, well do I consider like my living expenses now or what I could survive on? Should it be three? Should it be six? Like where do I land? Yeah? And then that's still I think a good goal to have, but this is at least the minimum goal, like, Okay,

this will keep me solvent no matter what happens. Typically, right, that should be our top priority before we go about opening an investment account and starting to fund it, even before we save for other short term goals. Having this emergency fund is going to do wonders for our peace of mind and helping us feel in control of our money.

And of course you want that money to be highly liquid and accessible, so those funds should be in your high interest savantis account one of the ones that we just mentioned, and in an ideal world, you can prioritize both saving and investing. Right, that emergency fund of two four six seven that is a great start, but you will need more liquid cash to help you with your future goals. Right, how you slice up the percentage that you put towards savings and investing. That's gonna differ based

on your individual goals. Right, say you don't want to buy a home and you want to retire at age fifty, Well you likely funnel way more into your investments. But maybe you want to buy a home in two years, Well, you will want to beef up your savings for the time being. Ultimately, prioritizing both provides stability and it provides you options to be able to change your mind down the road, because goals that you have now may not be the same goal that you have in five or

in ten years. And I think a lot of times too for folctional they get overwhelmed that, you know, they see the different accounts Like Vanguard, actually they've got pretty high bar set as far as the minimum amount that you need to get investing. Well, a lot of folks, like with Fidelity, they don't have minimums when it comes to getting started investing, especially in their different retirement accounts.

And so if you're able to even just set aside twenty dollars a month, that can just be a fantastic way to get that ball rolling to where it doesn't feel like this massive, audacious, intimidating thing. It can be something that they just start plugging away at. I think a lot of people hesitate to start investing because they're like, I don't have thousands of bucks to get into the investing game. I'm not an investor right exactly. It feels like this hot, lofty thing that you you can't achieve.

I have to just be a saber right now. But you can be both, and you can start investing literally ten twenty bucks a month. I mean, just getting started is half the battle. Uh, And it makes you at least feel like, you know what, I'm an investor now, I can do this. Yeah. And a company like Fidelity who has zero minimums swab the same. You can get started and at least get on your path to investing for the long haul. And I think to Matt, it's important to note that you'll likely have to change your

allocations over time as your goals change. Right, some years you might be more of a saver, some years you might be more of an investor. It really depends on kind of how those short and long term goals shape up. And as you get older and you begin to prioritize different things, those goals are gonna shift, and where you allocate your money is gonna shift too. That's right, man, I'm not who I was yesterday, very different. Who knows what's gonna happen in five years? Right? All right? Man,

let's take it back to the beer. This episode, we had cong which is a double hazy I p a by Barrel House brewing company, and they're out in California, Joel, what did you think about this beer? Man? Though, I was great, I like hazy double, I p a s. I feel like uh, Donkey Kong was throwing barrels in my mouth like a pops barrels of hoops, exploding, barrels of flavor. Yeah, so I man, I thought it was really good. I mean really, It's one of my go

two styles and I really enjoyed this one. Yeah. Again, a big things to our friend Josh for donating this beer. Joel. I noticed on the labels well where it says instead of saying high score, it says hop score. And it's got ten I v U S, which is a nerdy beer thing about like international bitterness units. So tin it's not super high, which means this beer drink pretty sweet and mellow. It kind of drink like orange juice, which we've described many a beer tasting like that before, which

means that we really enjoyed this one. We'd recommend for you to check out that brewery if you're ever out there near Barrel House, But Joel, I think that's gonna be it for this episode, our listeners. You can find more helpful information up on our site. At how It's Money dot Com. Yeah, man, and I noticed we've had a bunch of new listeners come on since we hit, which is great. We love inviting new listeners into the show.

Don't forget to give our Facebook group a shot. Just search how to Money in the Facebook search bar and you'll stumble upon our group. It's really helpful. A lot of great people in there, a lot of robust conversation. Yeah, over five thousand members now, which is really really cool to see. And also, if you're new, go back and listen to some of the prior episodes, Matt, We've covered so much information through a hundred and sixty three episodes

at this point. I can't believe it's been this many. But yeah, if you're a new listener, to go back and check out some of those older shows. There's some really good stuff in there for you. Yeah. But you know, we've covered a lot of topics and we're going to continue to So that's gonna be it for this episode. Well, until next time, Best Friends Out, Best Friends Out.