WTD When Markets Decline #165

that happens. We're gonna talk about how to respond to those changes as they're happening in regards to our investments, but not just our investments, are personal finances as well. We're going to cover a variety of little topics here. Yeah, when Marcus declined, it has far ranging impacts and not just on how much money you have in your investment portfolio, but it has wide ranging economic impacts. And so there's all sorts of things we have to take into consideration

when markets do decline. And so yeah, we're and get into a bunch of that today, dude. But before we do, let's talk about Airbnb because it has been a minute. If you remember, it was episode one thirty seven, that's when we kind of announced that I had my Airbnb up and running and it had been going for a couple of months at that point, and even before that was it episode three that we talked about like should we host an airbnb? We've been talking about it for

a long time, way back in the day. Well, a reason I think we've been fascinated with airbnb is because some of the appeal of it is that it's a way to make some money on the side. Was something potentially that you already have, right if you have the space in your home. But specifically, one of the ways that it's different from these different gigs like driving for lift or uber is that it's something that you can do without much time or effort put into it right completely, Well,

turns out that's not the case. It So we had our airbnb up and running for you know, for a lot of last year, and I tell you what, dude, I really enjoyed it. I really enjoyed getting to meet all the different folks, get inviting folks into the space in our home that we had specially set up for them. Basically playing host, drinking alcohol in the front lawn with

people at an ungodly hour in the morning. Well, that happened one time, and it was when they're leaving and do you wanted me to have a taste of the special liquor from Scottland. I think of Scotland. It wasn't a scotsh but it was from Scotland. That will be one of my more memorable moments as an Airbnb host.

But as much fun as all that was, it still took a lot more time than we realized, starting with communicating digitally with folks when Kate handled all of that, but to meeting them in person, showing them the space all the way to flipping the space and cleaning it. It was more like a part time job, which is not what we were hoping for. We were hoping that it would end up being something a little more hands off, and yeah, that just wasn't the case for us. Yeah,

you're really getting into kind of the hospitality industry. It seems from the outside looking in, just completely different than a full time, annual least sort of rental that we are typically set up on. You're like charting new territory, getting into new waters with the airbnb, and yeah, it did seem to suck up a lot more of your

time than you thought it would. Like you just mentioned a traditional lease, that is what we found to be the solution, right, And so we were looking for a way to eliminate all of the additional time that is involved with every single guest that came and stayed out our place. Well, with the traditional lease, you don't really have to do much of that because they take care of the place. They know that, you know, they know

how to get in. You don't have to show them where to park like all those things, and so that, yeah, that's that's the solution. So right now we've got a guy down there for two months, and let me just

tell you how great that that has been. Right not having to, you know, worry about meeting new guests that are showing up, and you know, for Kate to not have to worry about flipping the space and making sure that it's ready on time for the new guests to show up, and added this additional sort of level of stress that we realized we weren't willing to take on in our lives. I will say though, that there is a trade off. We aren't making quite as much money

as we were when we had it listed on Airbnb. However, it is worth the pay cut. Yeah, you know, it made me think about the episode that you and I did about calculating your hourly wage and knowing kind of what you're worth in that regard, And it did seem like, with all the hours you were pouring into Airbnb, you're devaluing your time because it was taking so much more

time than you thought it would. You basically became a host and a cleaning person and a communicator, and all the hours you put into it, if you were to factor in the additional you make over kind of instead going for short term leases of a couple of months, I think you're going to find that what you were actually making in running the place. And this differs from

city to city, circumstance to circumstance. Some people can make a killing doing airbnb, or if you do it at a bigger level and you've got multiple airbnbs and you've got a system in place, then you can do really really well. But sometimes just doing one can be really really hard. Um, and it does seem like you weren't making enough money to make it worthwhile. I mean, we did calculate it, and that's why that's why we made

that decision. Basically, we clearly identified that this is not worth our time, and we could have automated check in and we could have gotten a cleaner, but all that eats into your costs, right, and that would have brought

the net income from the airbnb down substantially. And so I think I mentioned on the episode where we talked about hosting the airbnb when it was finally up and running, that those previous two months we had made a little over sixteen hundred dollars a month, which was pretty solid.

But last year there were also some slower months where we're making closer tow and so on average it came out to be about fourteen hundred dollars a month, and we currently have the basement rented out for twelve dollars a month, and so we're making two hundred dollars less a month. But like I said, man worth every penny.

We have our life back. It's not something we have to worry about, and so Joel, the reason I wanted to mention this is because if you are hosting an Airbnb and maybe you're feeling burned out a little bit, well consider not necessarily a full on traditional lease where

someone is gonna be there for a year. In our case, I'm not sure if somebody would want to be there for a full year because we don't have a full kitchen that you know, it's not quite completely set up to be a super long term rental, but it's perfect for someone in town for a little bit working on a project anywhere between two three or four months something like that. And for us, it has been a fantastic

decision to kind of put the airbnb on hold. Yeah, and you gotta be willing to pivot in a moment like that, right where you kind of start to get in, you kind of start to see how it's working and you realize it's just not working out the way that you wanted it to. And I think we mentioned on the episode Matt about hosting an airbnb how potential government shifts and policy can change whether or not you're able

to even rent an airbnb. So if you're going to start hosting an airbnb, you kinda have to be ready to shift anyway because of the potential changes in regulations where you live. But at the same time, I think you need to be willing, just like you did, to shift if it's just not working out for you in the way that you had hoped. So I think, yeah, hosting an airbnb works out for you know a good many people, but also just doesn't work out the way

a lot of people wanted it to. And you really have to think about it as getting into the hospitality industry and being a landlord of a longer term lease is just so much simpler really in the day to day. But I'm glad for you guys getting all that time back in your life. And you know what, a couple hundred bucks totally worth the trade off? Yeah, exactly. Do I mean the way we have it currently set up

completely sustainable or is Airbnb? It just felt like it was something that we were not going to be able to keep up with at least, you know, in this stage in our life. Turns out adding a part time job to our full plates in addition to a new baby doesn't really fly and not a recipe for success. Exactly. Yeah, all right, Matt, Well, let's mention the beer that we're

having on the show today. We're fortunate enough to have a beer called Bretta Weiss from Firestone Walker Brewing Company, and this one was given to us by our friend Josh. Cannot wait to share this one on the show today with you, my friend, Yeah, man, And this is our fourth and final beer, and this one in particular is going to be really good. I said this one for last. Yeah, I'm excited about a buddy. All right, Well, um, we'll give our tasting notes on this one at the end

of the episode. But Matt, let's get onto the subject at hand. We're talking about what you do when markets are declining. And it's true markets decline from time to time, right, we're talking about stock markets, the general economy. There are cycles of expansion in cycles of contraction, and when Marcus decline, it's a normal occurrence. But it doesn't feel normal. When the headlines start to turn dark and gloomy on us, right, we start to feel as if we should be changing

something in our lives anything. All the talking heads on TV begin to proclaim more difficulty in the future. And we're not like those guys, Matt. We're not here to predict a recession or anything like that. And we would say that you should be reticent when you hear anyone making specific market predictions or saying that they know something is coming. But we will see a market decline at some point. It's part of the natural cycle of things. And so what should we do when that eventual market

decline arrives. Where should our head be and what sort of actions should we be taking? Well, that's what we're gonna talk about today. Yeah. Well, the reality is is that the stock market is at an all time high currently right. In addition to that, we've also seen the prices of real estate like they've boomed over the last decade. We you know, we recently talked about how a lot of folks have likely never experienced the value of their homes dropping. A lot of our listeners have never seen

the value of their four own case go down. This is a little really siding, right, And unfortunately, I think that most folks overall sentiment is that things will always be better tomorrow than they are today. Yes, over the long term, values will increase, but we need to be a little wary when everyone around us is overly optimistic. It reminds me of a warm Buffet quote where he says to be fearful when others are greedy, and be

greedy when others are fearful. These are wise words from the He's currently the fourth richest man in the world. That's not too shabby. Yeah, And so if we want to do well with our money over time, we need to think about how we can stomach a market decline before it begins. Yeah, and so again, we're not predicting anything's coming or around the pike, and we don't trust

people that do say that. That kind of stuff that's headline making material, that's panic conducing stuff that just doesn't fit into a personal finance podcast that is all about helping people make wise decisions. But it's also important to talk about kind of the history of market cycles and and the fact that these sorts of corrections do occur on a fairly consistent basis. So statistically, Matt, let's talk about the good news. First, stock markets rise on average

seventy seven percent of the time. That's good news, right, I like his odds. Yeah, how often do bear markets come around? Though? A bear market is, if you're not familiar, decline in stock prices, and those happen roughly every three point six years, so three times a decade you're going to experience a bear market. The great thing about bear markets when you look at them statistically, is that they really only last around ten months overall. And that's great

news too. So if we at least know that, on average, we're going to experience a bear market every three to four years and then it only lasts ten months. It kind of can help us get that mental preparation going to be able to endure it before it actually happens. Yeah, and a little more history for folks. While there have been twenty five bear markets, since there have only been fourteen recessions. They happen about half as frequently, although they

represent obviously a bigger decline and worse economic conditions. But knowing these numbers and knowing this history, it's really helpful. By familiarizing ourselves with the historical outcomes, this can help us to get through these tougher economic times. You know,

this is a perfect example of where knowledge is power. Yeah, it's important to acknowledge also that going through a bear market or even a recession doesn't just impact the amount of money that you have in your investment accounts, in your four oh one k R i R. A unemployment often goes up. Most of us tend to find ourselves on more unstable ground no matter where we're at financially

currently or where we are in our careers. So after the break, we're going to talk about how to handle your investments in the case of a market decline, but also how to think about your job and your personal finances to all right, Joel, we're back from the break. Let's talk now about what to do when markets decline in regards specifically to your investments, the money that you have invested in the market before the market declines. You want to make sure that you have your plan written down.

An investment plans so important despite what the market is doing right now and where your emotions are currently. If you have a plan that you can stick to, it's gonna help you to stay the course. So you should take the time now to set some realistic goals for how much you can sustainably contribute and the allocation you

feel comfortable with. Just be careful of being overconfident and picking an unsustainable strategy right Like, for instance, you might be able to right now invest thirty of your paycheck, and while that is amazing, you know, will you be able to stay that course, especially once things get harder and so answering some basic questions about when you'll need that money and how uncomfortable you would feel if you experienced a thirty decline in the value of your retirement

funds like those are things that you need to consider, and you know, Joel, actually writing it down will help you to stick to that plan no matter what the market conditions are. Yeah, Matt, and you mentioned the percentage of your income that's going towards investments, and that's definitely a consideration that needs to be a part of any investment plan that you write out. But at the same time, you also need to think about what you're invested in

in your retirement accounts. And we have no problem with younger individuals who are in the wealth building phase of their life being exposed to the stock market in equities, but there are also a lot of people that would see their stomach turn if they had a thirty portfolio drop, and so those are the kind of people who need to allocate their money differently inside their investment account. They need to be looking instead into a more balanced approach

to their investments. But it's so important to ask those questions ahead of time, to put your mind there as to what kind of behavior you think you might exhibit were the market to experience like severe losses to that extent, and having that written plan is just so useful in guiding you forward when you do get into the middle. The heart of more difficult circumstances. Yeah, well, let's talk now about modifying your plan, right, And so this is sort of more of a pre emptive step as well.

But if you're no longer in the growth stage of investing, you might want to consider shifting to more conservative investments. And so, in the simplest terms, this means having less of your invested assets in stocks and more in bonds or even cash if you have an immediate need of those funds. So this smooths out the ride and will

make wild market swings less impactful on your portfolio. This approach will allow you to comfortably whether a downturn and honestly, Jill like an even easier way, like if you want to hit the easy button, just look to the different target date retirement funds because they automatically shift your money

towards more conservative investments like bonds. Yeah, and even if you start seeing headlines like the SMP of our hundred or the Dow Jones industrial averages down, you know over a year period, because we're in this massive recession, your portfolio is not sustaining those losses because you are more widely diversified and more of your money is put into conservative investment like cash and bonds, and that's just gonna make it much easier to sleep at night if you

need ready access to those funds in the very near future, because yeah, I can't imagine a whole lot of worse financial scenarios than being super close to retirement and needing that money and seeing your balance drop like a rock. And basically, if you're not super close to retirement, you're not thinking about preserving your money and keeping that nest egg intact, and you are in the wealth building phase

of life. We would say, basically the way you should think about a market downturn is that the stock markets on sale, and when you find yourself in a bear market where values are dropping like crazy and you are in that stage of life, it's time to buy. And this is easier said than done, especially in the moment. We have a hard time thinking like this right as as all the headlines predict doom and gloom. But it's all the more reason to include this in your plan,

and you call out specific numbers. If the SMP five does dip into bear market territory, let's say, maybe that's a trigger for you to pop in extra money into your roth Ira or your four ow and k at work to bump up the percentage that you're investing, and then if things dip even lower, maybe that is caused for you to invest even more. Yeah, Joe, what we're talking about here is basically being opportunistic, right, Looking for

a deal isn't a bad thing. In every other area of our life, we get excited about finding a great deal when things are on sale, like we pounce on it. But for some reason, with the stock market, the opposite is true. When we see it dropping, we tend to like run the other way and we're afraid to put money in because I guess we're afraid that we're gonna lose all of our money, but we know, based on

historical data that that is not the case. Yeah, Black Friday, we get pumped about the TV sales, and then you don't run the other way when you see a good sale, like around Thanksgiving, Right, yeah, exactly, You're you're participating, You're um, You're thankful for the lower price. But when it comes to stock market investing, usually we have the opposite reaction

freak out. Yeah, and especially for in it for the long term, we do have to have that markets are on sale mentality, and it's time for me to hopefully if we have the fundamentals in place in our personal finances, the ability to up our contribution level. And so what we're talking about here is making sure that we behave according to the plan that we've created. Right, we want to make sure that we shure up our natural behavioral

tendencies in order to stay the course. These dips are temporary, and so the idea is to keep ourselves from making bad moves during these downturns. And I think a lot of times we know this knowledge, like this isn't a matter of like do I know the right thing to do? Like we know the right thing to do, we just

don't do the right thing in the moment. Yeah, And I think, yeah, just like having the knowledge of the history and what a typical bear market looks like going into it with that in our brains, it can be really helpful and instrumental in helping us stay the course well. Knowing ourselves, knowing our behavioral tendencies is key to So just being aware of the fact that we might freak out if we saw our four oh one k balance take a nose dive. That alone can stop us from

making some sort of a knee jerk reaction. We can't create necessarily a realistic simulation, but trying to imagine what it would be like and mentally kind of putting ourselves in that place can be really helpful for us to assess whether we can handle it or not. That ability to kind of know ourselves and our tendencies, our personality type probably has a lot to do with that can really influence how we allocate our funds and then how we actually react when the market does experience a downturn.

And Man, I think another major behavioral influence on us, especially during these sort of times that we've hinted at it is the media and hype culture. They're so prevalent in this day and age, right, they have this insane ability to make something bad look like doomsday is here, right, and especially when it comes to financial news. So tune

that stuff out. It's not helpful, and in all likelihood, the more you tune into it, the more you're gonna be likely to make moves that you shouldn't based on everyone else losing your heads. You want to be able to stick to your plan, and part of that is the ability to tune out the people on TV that are freaking out. Yeah, man, we need to take those steps to remove ourselves from becoming obsessed with what the

market is actually doing. You know, we don't need to look at our account statements while the market is in that decline. And this might even sound crazy to some folks, but maybe even consider changing your password and letting your partner or a you know, highly trusted best friend keep that information for you. Just anything to keep you from checking, from obsessing in worst case scenario, keeping you from making a bad decision that could have a disastrous effect on

your finances for the long haul. Yeah. Matter, if you're getting paper statements, toss them straight in the recycling bin, don't open them up. Well before that, you should probably be enrolled in paperless statements anyway, right, sure you don't

need that paper in your life. Yeah, either way, either way you go, but you you should be not opening the emails or just straight up deleting them or tossing those paper statements in the trash either way, like opening those statements, you're gonna hear around the water cool or you're gonna know markets earned decline. But if you can tune out the media for the most part, not look at your statements unless you're checking. The less you're thinking about it, and the more likely you are to stay

the course. Yeah, by putting yourself on an information diet, basically you're you're hopefully able to keep yourself from panicking. Right, Like we said, the worst thing that we can do is to freak out and you know, start selling at the exact wrong time. So, you know, earlier we mentioned how maybe a lot of our listeners, how they haven't experienced a huge downturn in the market. I'll say that

I'm one of those people. I didn't start seriously investing in the market until about ten years ago, and that was after the housing crash. And so while I had dabbled a little bit in investing up until that point, I didn't have tens of thousands of dollars, right, I didn't have hundreds of thousands of dollars on the line. And so while I would like to think that I would do the right thing, Well, the markets haven't put me to the test. Yeah, not yet, but it's gonna happen.

I mean, statistically, it's going to happen at some point. And until we just have to be ready for that. And yeah, Matt, I was in the workforce, and I was an investor, I mean not a robust investor. I didn't have tons of money. Well, I was working, but

I just definitely was not investing my money yet. But I just think they remember having these conversation with a coworker who while the market was in steep decline during the great recession of last decade, and he told me, you know what, I'm I'm taking a lot of money out.

I'm I'm pulling it off the table. And I can tell he was just freaked out, he was shell shocked, and we talked for a while, but he just wasn't willing to to change course, and he ended up pulling money out when, you know, as we were approaching kind of the bottom of where the stock market ended up. And when you do that, it's so hard to know

when to put that money back in. And so many people did that at the height of the downturn and then missed out on so much of the run up of the gains in the following years in you know, two thousand ten, two dozen eleven, two dozen twelve, and so yeah, I mean basically every year since then, right, exactly, and so yeah, I remember that conversation distinctly and kind of the way panic can set in, how it can become so hard to stay the course, and especially if

you don't have a plan to rely on, or or knowing the history of the market at the same time. But yeah, panicking and panic selling is is truly the worst thing that you can do. You're baking in your losses and you're not exposing that money towards the future upside. That's around the corner when the recovery begins, and you'll market downturns. They don't just affect the amount of money

that you have invested in the market for retirement. It has implications into other areas of our lives, like employment and other aspects of our personal finances as well. So we're gonna get to those right after the break. M all right, Matt, we're back in when markets decline. I mean, there are a lot of things that happened, and so many of the things that do happen are out of

our control. You know, we just talked about having an investment plan, and that's something that you have full control over, right, is how you're going to treat your investments when markets are hurting. But then there are other things that we just have less of an ability to change, And a lot of things in particular happen in the employment market when the overall economy isn't doing so hot, and so it's important to kind of discuss that and the implications

that it can have for us as employees. So if you're like most folks and you work for a company, hard times might be ahead and it's something that you

have to think about now before we get into that situation. Yeah, it's good to be prepared and declining economic conditions, raises will likely be few and far between, not that they've been great even in a strong recent economy, but you might see wage increases completely freeze, and if you get paid hourly, you are likely looking at fewer hours as your boss or your manager is looking to keep the numbers in the black. So even if you don't lose

your job, your paycheck could be smaller. Yeah, man, I feel like to when we're talking about what things look like in the office. Typically in an economic downturn, there's lots more grumbling, like the overall work environment can start to go south and it and it might even become toxic. So just like kind of right now, as the stock market is at all time highs, there's a lot of oftentimes excitement about the potential. There's there's more hires coming in,

there are more projects on the line. People are more optimistic about what the company is up to, and people are spending more money because they're optimists. Yeah exactly, Yeah, they're they're pumps. They see their four own k and they just think they can spend more of their paycheck in the here and now. But the grumbling kind of starts to take over and not gonna have an effect

in a workplace environment. And then ultimately, in a really tough economy, your company might start looking to downsize and it's impossible to fully plan ahead for losing your job, but it's really important to be aware that that's a possibility,

and so yeah, don't be blindsided by that completely. But because of all these possibilities of raises being cut off and even at the worst possible potential of becoming unemployed in an economy that's not doing so hot well, that leads to a lot of things that we need to do individually in order to get prepared for a potential market decline, right, Matt, Yeah, Joe, And you know, when you are employed, these are things you don't have a

ton of control over. Like, obviously, this is not the time to be slacking on the job, right, Like you want to show initiative, you want to work hard, but there's only so much you can do at your company. I mean, I should stop slacking now, Yeah, stop slacking, work harder, Okay, make sure you don't get fired. That's

kind vice. And so we were talking earlier too about news, right, and what media that we are allowing into our lives, and so you know, it doesn't mean completely ignoring the news, but it does mean maybe considering to proactively do the exact opposite of what everyone else is doing in order to prepare. I like that idea, man, I like doing the exact opposite of what everyone else is into. And you know, if you think, like Warren Buffett, you want

to zig while everyone else is acting. Yeah, that's definitely that's definitely true. So I think, yeah, if we're talking about that, what do we do to kind of supercharge our personal finances to withstand a tougher economy when markets

turned decline? Well, I think one of the main things is to increase our savings right, and specifically increase how much we're allocating towards cash on hand that's easy to tap and minimally that means to have a fully stocked emergency fund, and having that sort of cash on hand is is huge, specifically in hard times, because let's say you do lose your job, it doesn't matter how much money you have in a four oh one K that

you can't tap until your late fifties. What matters is how much you have on hand to be able to pay rent and buy groceries. And so the more cash that you have stored away for a rainy day when markets are in decline and when the economy is in

turbulent times, that's hugely important when we're talking about personal finances. Yeah, and Joel, you know, we're not talking about just having enough cash on hand to get by, but looking to find deals like we talked about earlier, you know, when the stock market tanks, Like what if you had a lot more cash on hand to be able to put into the market while it's at its lowest peak in

five years or something like that. If you're someone who has study employment, whether you're self employed or working at a company and you can use the extra cash on hand to funnel towards investments when things are in declined. That's the way to go, and just think about the amazing financial position that that would put you in. It's also really important to mention that we should be decreasing our debt levels. If you're at your your budget brink right in good times, well then where will you be

when hard times arise? So put extra energy towards paying off your debt and doing so quickly. Yeah, more cash on hand, less debt in your life. That's a recipe for success when you know the economy is struggling and that too. Diversification of income can be super helpful when we talk about how we weather a storm like this and inside hustles, they're really great. Expanding our network is another way that I think we need to think about

this ahead of time. If you're living paycheck to paycheck and you're hoping that your employer, whether it's an economic storm, well well then it doesn't mean that you are actually prepared for this. You need to take some steps now to make sure that you can handle your employer's turbulence well on your own. And even if you don't have the desire or the time to have another source of income, to get a side hustle, to have kind of this

other way of making money. Even if let's say your main job was to go away, well, it's really important to at least be connecting with people in your network now, talking to people in your field, maintaining those connections that can pay real dividends in the case of an economic downturn, because maybe your employ ere is ends up in a rough spot, but other employers are able to weather things well and they might still be hiring even though things

aren't rosy in the overall economy. And because you've maintained those network connections, then it just makes it that much easier for you to reach out and ask for an introduction in order to find that next job when things

go south that your current one. Yeah man, And so not surprisingly, a lot of what we're talking about in this episode are things that we talk about all the time, right, but I think hopefully there are some key takeaways and some key things that are especially relevant when markets are dropping, when you do feel that you know potential panic to pull your money out of the market at the exact

wrong time. These are all things that you want to make sure that you keep in mind so that you are able to weather the storm, not only just weather the storm, but maybe even come out the other side

in slightly better shape. Yeah, And I think when things are at their best is a great time to walk through some of these scenarios for yourself to come up with that investment plan, right, you want to plan ahead, plan for the future, and you want to run through some of these scenarios before the hearts off starts to hit.

And I think that is ultimately what's going to lead to preparation and the ability to, yeah, hopefully succeed, like you said at the end of the day, even after some rough market conditions, you know, maybe hit us for ten months like an average bearer market, or potentially even longer. But we want to be prepared as individuals. We don't want to be the kind of people who just cross our fingers and hope that everything is gonna be okay. Most deaf man, All right, let's go ahead and take

it back to our beer. This episode, we are drinking bread of Vice and that's spelled with a W, you know, like W E I S S E, but you pronounced it like a pro and you say it vice. I don't think I did that at the beginning of did you not Know? I think I pronounced it like a W like an idiot. Bread of vice. You can say it however, breada Weiss either way. But this is a Berliner style wheat beer from Firestone Walker, donated to the show by our friend Josh Joel. What were your thoughts

on this beer? Oh? Man, this one was so good. It was definitely higher on the sour scale for me. Yes, it was very tart, It was funky, It was oaky, a little fruity mixed with a high level of tartness and acidity. It just kind of was this like kitchen sink of a wild ale in my opinion, because it had all these incredible elements, and so much of that is due to kind of the work of the yeast in this beer that really contributes so much to the overall flavor profile. Man, you can tell they put a

lot of thought, a lot of care. This one was absolutely delicious. What was your take on this one? Because I know this is like one of your all time favorite styles. Yeah, this might actually be the best example of the style I've ever had in my life. Like you said, it's a sour beer for sure. It was really bright and acidic, and it did have a touch of the funkiness maybe from the barrels when they do

agent and barrels. It gives it that additional level of complexity. Also, man, I felt like there was a touch of sort of like pineapple flavor to it. I feel like it had some touches of that bright, tropical fruitness, but at the same time without being overly sweet. Yeah. I totally got that too, And it really added just this nice other element to all the other stuff going on in it. And so weiss or vice you know, that means wheat, and so this is basically a wheat, a sour wheat beer.

And I decided that if I was going to rename this beer, I would call it wheat tart instead of a sweet tart. That would be my dumb name for it. All right, Well, we can write to the folks at Firestone Walker and see if they're up for name suggestions. But I don't know if they're gonna take that one or not. Sorry, bread device is pretty solid. Yeah, awesome beer. Glad to get to enjoy this one with you, my friend and thanks again to our buddy Josh for sending

this one in our way. All Right, Matt, that's gonna do it for this episode. Everyone out there listening. If you want the show notes for this episode, you can find those on our website at how to money dot com. And if you're a listener and you haven't yet done this, we would be incredibly thankful if you head it over to Apple Podcasts, where you could rate and review us. Regardless of where you listen to our podcast, we would love for you to subscribe so that you don't miss

an episode. Joel, that's gonna be it for this episode, buddy. Until next time, Best friends Out, Best Friends Out, m m M