It is time for Joel large guard. And by the way, Joel, do you really believe that I'm as much of an ass as I? Never mind anyone I know? All right? How to money? Yes, Sunday's let me tell you. People that really know me, Joel, people that really know me also think I'm an ass twelve to two o'clock every Sunday right here on KFI. All right, Joel, an article just came out that I read this morning about money arguments. How often couples argue a year over money, And let's
talk about that. Who and what kind of arguments?
Let's go for it, all right, Yeah, let's do it, especially since tomorrow it's the day of love. Right, let's talk about the opposite of love, which is yelling at your spouse or your significant other. And yeah, there's this new survey and it finds that most couples are huge segment of couples are uncomfortable talking about money in their relationship at all. It's say, hey, let's talk about everything else except for money. It's just still a taboo topic
for a lot of couples. And then on top of that, couples on average fight about money fifty eight times a year, which means more than once a week, which is just a lot to fight about money. And so I get it too, Like I grew up in a family where there were money arguments, and my whole goal in life has been, like, hey, I want to not fight about money with my spouse. It doesn't mean that it never happens,
but fifty eight times a year sounds steep. And I just think most people feel still so uncomfortable about how to handle money, and then they don't know how to talk about mistakes that they've made or that their spouse is made without kind of things getting heated. And I don't know that worries me because we have to be able to talk about money without like ratcheting up the situation and turning it to deficon five.
Okay, well, typically, what are the arguments spending too much money, buying things that not necessary? What is a it is there a hierarchy at all? For sure?
I think definitely spending is one of those things where you're not communicating specifically about what's being spent and there's not enough left at the end of the day. It's a disagreement about how you're spending money. That is, that's
one of those things. Often there's you know, there have been other studies in the past that talk about money and fidelity, and so a spouse maybe hiding an account from from the other partner, and that when that comes to light, that creates significant money arguments and a lack
of trust, which makes sense. And so when you look at the studies too, couples who combine their finances tend to have more success with how they communicate about money and then how happy there they are, Like their self reported levels of happiness are more are higher because they're typically more on the same page. And there is something
about just putting everything together. And it doesn't mean that you have to have your spouse sign off on every purchase you make, but just it creates that transparency level I think in relationship. So I think that's something that
the people should think about more. I get why more couples are not combining finances, especially as they get together later in their lives, as people get married later and hey, I already bought a house, I've already saved the investor for I retirement, and I've already made all this progress and now we're getting married at thirty six, and so yeah,
I kind of want to keep my stuff separate. But the truth is, if you want your marriage to function and to be healthier, the more you combine your finance is the better you can still have. I think those separate accounts for spending, but I like the idea of the bulk of the funds being combined together for those bills that you guys are going to have together as a couple.
All right, let's go right into five twenty nine savings plans, which a lot of parents start for their kids for at college fund, which I did the day my kids were born. Put money in, and now we have a pretty healthy amount of money for a four year college. Both of my kids, at best will graduate junior college, where it costs ten dollars a unit. So I have more money in there than I know what to do with, except it's a ten percent penalty on top of on top of my interests or on top of ordinary income.
So I'm going to keep it for my great grandchildren personal seed.
Now, that's smart, that's part of there. You believe in five nine planet offers, Yeah, you can go to grandkids, that's right.
So my kids are twenty nine, they're not gonna have kids for a while. So let's say they have kids at thirty three, thirty four, which makes a lot of sense. And then so I got another three or four years plus eighteen years when their kids are born, So we're looking at twenty two years of growth. So it's gonna be worth just a ton of money, except that tuition will be more than a ton of money. So let me go into the five twenty nine plan. There's a
there's a world to this, and that is parents. More parents are investing into their five twenty nine with bitcoin. I mean, do we really want it to be that vaultly might as well take the money and go to Las Vegas the five twenty nine plan and put it on a roulette wheel. You don't know.
Yeah. So interestingly enough, this was there was an article in Bloomberg kind of talking about this bill, and it's these parents are actually instead of five twenty nine plans, they're putting money into bitcoin, and they're saying, ah, I'm not going to go through the traditional route that's going to offer me tax savings. Instead, I'm just going to buy more bitcoin and hope that that goes up at
a faster, faster clip. Instead of traditional investments, and so they're basically like given the heisman to a traditional plan that has worked out well for so many parents, and I like the five to twenty nine plan. I typically caution parents like, hey, make sure you're saving well for your own future before you jump into investing and saving for your kids college, because hey, the retirement, the sum of money you need for that as much bigger, and
there are no scholarships available for that. But investing in bitcoin for your kids for your kids future, I think makes very little sense. I think the basics, getting the basics right, using the five twenty nine plan the way it was intended, especially given the greater levels of flexibility that a five to twenty nine plan offers these days, I think that's a much better route than going all in on bitcoin.
Yeah yeah, now I misunderstood. I thought they were putting their five twenty nine money into bitcoin, which I'm assuming can be done because you can pretty well, you can can pretty well.
Invest, you can look at a risk of all the investment options that your five to twenty nine offers. So if you go into you can actually go to the Scholarshire five to twenty nine Planned website, or you could look on a website like saving for College dot com, and they list out all of the investment options and the expenses of those options, and there isn't actually while inside of like let's say your four O one K or your IRA or your taxable brokerage account, you can
invest in a bitcoin ETF. Those are not actually available from most of these five twenty nine plan unhit, I haven't seen one that's offering yet. So you would think that, oh, maybe that's readily okayble now, but not inside of five point nine plans.
Yeah, you would, and you would think that it's and you think it's only a question of time before it does become available because even though the uh people companies, the service organizations that are accepting bitcoin or is not growing as quickly as anticipator or as bitcoin wanted, it's still growing real quickly. And that is the five twenty nine savings plan. This is where I'm going to pat myself on the back and thump my chest. Investing in a five twenty nine plan early early early days is
uh well, let me put it this way. My five twenty nine plan was fully I think it was basically done when the kids were eighteen. Now we are ten years later because I started so early, and it's like anything else, it's all compound at the end. So a little bit, a little bit, a little bit, a little bit, and you're home free, and your kids get a college education, and you're not screwing yourself either. You're not putting away a ton of money or mortgaging your house.
The other reason to start early space are now five twenty nine plan, even if you're talking about like not big bucks, but just putting a little bit of money in to get a clock rolling. And that's because of the new rules about five twenty nine to roth rollovers, because you can't move money from a five to twenty nine plan into a roth IRA unless it's existed for at least fifteen years. And that's just existed, so there's something even if you drop fifty bucks in there and
you don't put money again in again for years. That's the one exception to my rule about saving for your own retirement first. If you're like, listen, I know I'm going to put more in at some point, but getting that fifteen year clock going, which would mean starting off that five twenty nine plan when your kid's super young, that I think is is something that people should take notice.
Of, all right, Joel, thanks much. Sunday twelve to two here on ki social address at how to money Joel, And that's on X. Don't you use the word Twitter? Do you still use the word X?
I just don't use it at all.
I guess did he just leave? Oh good? Why does it say on X? I have no idea. Okay, we're done, Joel, Thank you.
Thanks Bill,