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What Should I Be Thinking About After My First Big Salary? · Becoming Financially Confident

• 0:37
  Well,
• 0:37
  hey
• 0:37
  everybody.
• 0:38
  Welcome
• 0:38
  to
• 0:38
  Financially
• 0:39
  Confident
• 0:40
  Christian
• 0:40
  Live.
• 0:41
  I'm
• 0:41
  Ralph
• 0:42
  Estepp
• 0:42
  Jr.
• 0:42
  And
• 0:43
  I'm
• 0:43
  super
• 0:43
  glad
• 0:44
  that
• 0:44
  you're
• 0:44
  here
• 0:44
  today.
• 0:45
  This
• 0:45
  show
• 0:45
  is
• 0:45
  for
• 0:46
  believers
• 0:46
  who
• 0:46
  want
• 0:46
  to
• 0:46
  grow
• 0:47
  in
• 0:47
  confidence
• 0:47
  with
• 0:48
  their
• 0:48
  money.
• 0:48
  Now
• 0:48
  this
• 0:48
  show
• 0:49
  isn't
• 0:49
  about
• 0:49
  shame.
• 0:50
  It's
• 0:50
  certainly
• 0:51
  not
• 0:51
  about
• 0:51
  pressure
• 0:52
  and
• 0:52
  it's
• 0:52
  not
• 0:52
  about
• 0:53
  pretending.
• 0:54
  It's
• 0:54
  real
• 0:54
  conversations
• 0:55
  about
• 0:55
  the
• 0:55
  fear,
• 0:56
  the
• 0:56
  pressure,
• 0:57
  debt,
• 0:58
  stewardship
• 0:59
  and
• 0:59
  the
• 0:59
  next
• 1:00
  right
• 1:00
  step.
• 1:00
  Now
• 1:01
  today
• 1:01
  we've
• 1:01
  got
• 1:01
  three
• 1:02
  questions
• 1:02
  that
• 1:02
  listeners
• 1:03
  send
• 1:03
  in
• 1:03
  and
• 1:03
  I'm
• 1:03
  also
• 1:04
  encourage
• 1:04
  anybody
• 1:04
  who's
• 1:05
  joined
• 1:05
  us,
• 1:05
  please
• 1:06
  feel
• 1:06
  free
• 1:06
  to.
• 1:07
  If
• 1:07
  you're
• 1:07
  in
• 1:07
  Clubhouse,
• 1:08
  you
• 1:08
  can
• 1:08
  jump
• 1:08
  on
• 1:08
  there
• 1:09
  and
• 1:09
  if
• 1:09
  you
• 1:09
  want
• 1:09
  you
• 1:09
  can
• 1:09
  send
• 1:10
  me
• 1:10
  a
• 1:10
  question
• 1:10
  through
• 1:11
  the
• 1:11
  chat.
• 1:11
  Abby
• 1:11
  is
• 1:12
  monitoring
• 1:12
  that
• 1:12
  for
• 1:12
  me.
• 1:13
  But
• 1:13
  we
• 1:13
  got
• 1:14
  three
• 1:14
  questions
• 1:14
  to
• 1:14
  really
• 1:15
  get
• 1:15
  started
• 1:15
  today.
• 1:16
  We
• 1:16
  got
• 1:16
  a
• 1:16
  mom
• 1:16
  who's
• 1:17
  doing
• 1:17
  everything
• 1:18
  right.
• 1:18
  She's
• 1:19
  cooking
• 1:19
  from
• 1:19
  scratch,
• 1:20
  one
• 1:20
  car,
• 1:21
  no
• 1:21
  coffee.
• 1:21
  If
• 1:22
  you
• 1:22
  listen
• 1:22
  to
• 1:22
  my
• 1:22
  show
• 1:22
  anytime,
• 1:23
  you
• 1:23
  know,
• 1:23
  I,
• 1:23
  I
• 1:23
  get
• 1:23
  on
• 1:24
  people
• 1:24
  about
• 1:24
  those
• 1:24
  coffee
• 1:25
  stops
• 1:25
  and
• 1:26
  still
• 1:26
  drowning
• 1:27
  in
• 1:27
  grocery
• 1:27
  bills.
• 1:28
  So
• 1:28
  we're
• 1:28
  going
• 1:28
  to
• 1:28
  talk
• 1:28
  about
• 1:29
  that
• 1:29
  information
• 1:30
  that
• 1:30
  we
• 1:30
  got
• 1:30
  from
• 1:30
  her.
• 1:31
  We've
• 1:31
  also
• 1:31
  got
• 1:31
  a
• 1:31
  man
• 1:32
  who's
• 1:32
  put
• 1:32
  money
• 1:32
  in
• 1:33
  his
• 1:33
  401k
• 1:34
  for
• 1:34
  22
• 1:35
  years
• 1:36
  and
• 1:36
  he's
• 1:36
  now
• 1:36
  wondering
• 1:37
  if
• 1:37
  he
• 1:37
  set
• 1:38
  himself
• 1:38
  up
• 1:38
  for
• 1:38
  failure.
• 1:39
  Talk
• 1:40
  about
• 1:40
  that
• 1:40
  on
• 1:40
  today's
• 1:41
  show.
• 1:41
  And
• 1:41
  we've
• 1:41
  got
• 1:42
  a
• 1:42
  new
• 1:42
  parent
• 1:42
  trying
• 1:43
  to
• 1:43
  make
• 1:43
  a
• 1:43
  smart
• 1:43
  decision
• 1:44
  for
• 1:44
  her
• 1:44
  daughter
• 1:45
  before
• 1:45
  an
• 1:46
  ad
• 1:46
  makes
• 1:46
  it
• 1:47
  for
• 1:47
  her.
• 1:48
  These
• 1:48
  are
• 1:48
  real
• 1:48
  people
• 1:49
  that
• 1:49
  are
• 1:49
  really
• 1:50
  trying
• 1:50
  and
• 1:51
  still
• 1:51
  feel
• 1:51
  like
• 1:51
  there's
• 1:52
  not
• 1:52
  enough.
• 1:52
  And
• 1:53
  maybe
• 1:53
  that
• 1:53
  sounds
• 1:53
  familiar
• 1:54
  to
• 1:54
  many
• 1:54
  of
• 1:54
  you
• 1:55
  that
• 1:55
  are
• 1:55
  listening.
• 1:55
  I
• 1:56
  just
• 1:56
  want
• 1:56
  to
• 1:56
  remind
• 1:56
  everybody
• 1:57
  this
• 1:57
  is
• 1:57
  a
• 1:58
  non
• 1:58
  judgment
• 1:59
  zone.
• 1:59
  You're
• 2:00
  not
• 2:00
  alone
• 2:00
  and
• 2:01
  you're
• 2:01
  not
• 2:01
  too
• 2:01
  late.
• 2:02
  Here's
• 2:02
  how
• 2:02
  it
• 2:02
  works.
• 2:02
  If
• 2:03
  you're
• 2:03
  on
• 2:03
  Clubhouse,
• 2:03
  you
• 2:03
  can
• 2:04
  join
• 2:04
  me
• 2:04
  here
• 2:04
  on
• 2:04
  stage
• 2:05
  or
• 2:05
  post
• 2:05
  in
• 2:05
  the
• 2:05
  comments.
• 2:06
  If
• 2:06
  watching
• 2:06
  you're.
• 2:06
  If
• 2:06
  you're
• 2:06
  on
• 2:07
  YouTube,
• 2:07
  drop
• 2:07
  it
• 2:07
  in
• 2:07
  the
• 2:08
  chat.
• 2:08
  So
• 2:09
  let's
• 2:09
  get
• 2:09
  started
• 2:10
  by
• 2:10
  getting
• 2:11
  started
• 2:11
  with
• 2:11
  our
• 2:11
  first
• 2:11
  question
• 2:12
  here.
• 2:12
  But
• 2:12
  before
• 2:12
  we
• 2:12
  do
• 2:13
  that,
• 2:13
  I
• 2:13
  wanna
• 2:13
  invite
• 2:14
  everybody.
• 2:15
  We
• 2:15
  do
• 2:15
  have
• 2:16
  a
• 2:16
  community
• 2:16
  site.
• 2:17
  It's
• 2:17
  on
• 2:17
  Patreon.
• 2:18
  I'm
• 2:18
  not
• 2:19
  looking
• 2:19
  for
• 2:19
  money
• 2:19
  there,
• 2:19
  just
• 2:20
  a
• 2:20
  place
• 2:20
  to
• 2:20
  share
• 2:20
  information.
• 2:21
  We
• 2:21
  can
• 2:22
  share
• 2:22
  wins
• 2:22
  and
• 2:22
  we
• 2:23
  can
• 2:23
  share
• 2:23
  struggles.
• 2:24
  You
• 2:24
  can
• 2:24
  find
• 2:24
  that
• 2:25
  by
• 2:25
  going
• 2:25
  to
• 2:25
  financiallyconfidentchristian.com
• 2:27
  join
• 2:29
  again.
• 2:30
  That's
• 2:30
  financiallyconfidentchristian.com
• 2:33
  Join.
• 2:34
  Well,
• 2:34
  let's
• 2:34
  get
• 2:34
  right
• 2:34
  into
• 2:35
  our
• 2:35
  first
• 2:36
  question
• 2:36
  and
• 2:37
  we
• 2:37
  titled
• 2:37
  this
• 2:37
  one
• 2:37
  Tired
• 2:38
  of
• 2:38
  everything,
• 2:39
  right?
• 2:40
  And
• 2:40
  the
• 2:40
  listener
• 2:40
  wrote
• 2:41
  this.
• 2:41
  Hey
• 2:41
  Ralph,
• 2:42
  I've
• 2:42
  been
• 2:42
  listening
• 2:42
  to
• 2:43
  Financially
• 2:43
  Confident
• 2:44
  Christian
• 2:44
  for
• 2:44
  a
• 2:44
  while
• 2:44
  now
• 2:45
  and
• 2:45
  I
• 2:46
  finally
• 2:46
  have
• 2:46
  a
• 2:46
  question.
• 2:47
  Well,
• 2:47
  I'm
• 2:47
  so
• 2:47
  happy
• 2:48
  to
• 2:48
  have
• 2:48
  A
• 2:48
  question
• 2:48
  that's
• 2:48
  a
• 2:48
  good
• 2:49
  thing.
• 2:49
  This
• 2:49
  is
• 2:49
  what
• 2:50
  she
• 2:50
  writes.
• 2:50
  She
• 2:50
  said,
• 2:50
  I
• 2:51
  cook
• 2:51
  everything
• 2:51
  from
• 2:51
  scratch.
• 2:52
  We've
• 2:53
  got
• 2:53
  one
• 2:53
  car,
• 2:54
  and
• 2:54
  I
• 2:54
  don't
• 2:54
  buy
• 2:54
  coffee.
• 2:55
  But
• 2:55
  my
• 2:56
  grocery
• 2:56
  bill
• 2:56
  is
• 2:57
  still
• 2:57
  $1,200
• 2:58
  a
• 2:58
  month
• 2:59
  for
• 2:59
  four
• 2:59
  people.
• 3:00
  And
• 3:00
  I
• 3:00
  don't
• 3:00
  know
• 3:01
  where
• 3:01
  I'm
• 3:01
  going
• 3:01
  wrong.
• 3:02
  My
• 3:02
  mom
• 3:03
  used
• 3:03
  to
• 3:03
  save
• 3:03
  everything.
• 3:04
  She
• 3:04
  saved
• 3:05
  jars
• 3:05
  and
• 3:05
  bags
• 3:06
  and
• 3:06
  even
• 3:06
  twist
• 3:06
  ties.
• 3:07
  I
• 3:07
  thought
• 3:07
  she
• 3:08
  was
• 3:08
  crazy,
• 3:09
  but
• 3:09
  she
• 3:09
  never
• 3:10
  seems
• 3:10
  stressed
• 3:10
  about
• 3:11
  money
• 3:11
  the
• 3:11
  way
• 3:11
  I
• 3:12
  am.
• 3:12
  What's
• 3:13
  the
• 3:13
  difference
• 3:13
  between
• 3:14
  doing
• 3:14
  what
• 3:14
  she
• 3:14
  did
• 3:15
  and
• 3:16
  just
• 3:16
  being
• 3:16
  broke?
• 3:17
  And
• 3:17
  how
• 3:17
  do
• 3:18
  I
• 3:18
  know
• 3:18
  if
• 3:18
  I'm
• 3:18
  actually
• 3:18
  being
• 3:19
  frugal
• 3:19
  or
• 3:20
  just
• 3:20
  struggling?
• 3:21
  I'm
• 3:21
  tired,
• 3:22
  Ralph.
• 3:22
  I'm
• 3:23
  tired
• 3:23
  and
• 3:23
  I'm
• 3:23
  scared.
• 3:24
  Would
• 3:25
  love
• 3:25
  to
• 3:25
  hear
• 3:25
  your
• 3:25
  thoughts
• 3:25
  on
• 3:26
  this.
• 3:26
  Thank
• 3:27
  you
• 3:27
  for
• 3:27
  all
• 3:27
  you
• 3:27
  do.
• 3:28
  Well,
• 3:28
  thank
• 3:29
  you
• 3:29
  for
• 3:29
  sending
• 3:29
  in
• 3:29
  that
• 3:30
  question.
• 3:30
  What
• 3:30
  a
• 3:30
  beautiful
• 3:31
  question.
• 3:31
  What
• 3:32
  a
• 3:32
  great
• 3:32
  question
• 3:32
  to
• 3:33
  ask.
• 3:34
  And
• 3:34
  I
• 3:34
  gotta
• 3:34
  be
• 3:35
  honest
• 3:35
  with
• 3:35
  you.
• 3:36
  When
• 3:36
  I
• 3:36
  read
• 3:36
  your
• 3:36
  question,
• 3:37
  it
• 3:37
  seems
• 3:38
  to
• 3:38
  me
• 3:38
  like
• 3:38
  you
• 3:38
  are
• 3:38
  doing
• 3:39
  everything
• 3:40
  right,
• 3:41
  but
• 3:42
  you're
• 3:42
  still
• 3:42
  coming
• 3:42
  up
• 3:42
  short.
• 3:43
  And
• 3:44
  you're
• 3:44
  making
• 3:44
  choices
• 3:45
  that
• 3:45
  feel
• 3:45
  like
• 3:45
  deprivation,
• 3:47
  and
• 3:47
  it
• 3:47
  seems
• 3:48
  like
• 3:48
  you're
• 3:48
  still
• 3:48
  not
• 3:48
  feeling
• 3:49
  like
• 3:49
  it's
• 3:49
  working,
• 3:50
  and
• 3:51
  you're
• 3:51
  ashamed
• 3:51
  to
• 3:52
  be
• 3:52
  struggling
• 3:53
  when
• 3:53
  you
• 3:53
  feel
• 3:53
  like
• 3:54
  you're
• 3:54
  already
• 3:54
  trying
• 3:55
  everything.
• 3:56
  But
• 3:56
  I
• 3:56
  want
• 3:56
  to
• 3:56
  bring
• 3:57
  some
• 3:57
  things
• 3:57
  to
• 3:57
  your
• 3:57
  mind.
• 3:58
  First
• 3:58
  thing
• 3:58
  is,
• 3:59
  a
• 3:59
  $1,200
• 4:00
  grocery
• 4:00
  bill
• 4:01
  for
• 4:01
  four
• 4:01
  people
• 4:01
  in
• 4:02
  2026
• 4:03
  is
• 4:03
  not
• 4:04
  a
• 4:04
  character
• 4:04
  flaw.
• 4:05
  That's
• 4:05
  what
• 4:06
  things
• 4:06
  cost.
• 4:07
  Groceries
• 4:08
  now
• 4:08
  are
• 4:09
  generally
• 4:09
  more
• 4:09
  expensive
• 4:10
  than
• 4:10
  they've
• 4:10
  ever
• 4:11
  been.
• 4:12
  And
• 4:12
  that's
• 4:12
  not
• 4:13
  a
• 4:13
  failure.
• 4:13
  That's
• 4:13
  just
• 4:14
  the
• 4:14
  math
• 4:14
  of
• 4:14
  it.
• 4:15
  The
• 4:15
  difference
• 4:16
  between
• 4:16
  what
• 4:16
  your
• 4:16
  mom
• 4:17
  is
• 4:17
  doing
• 4:17
  and
• 4:18
  being
• 4:18
  broke
• 4:18
  is
• 4:19
  really
• 4:19
  a
• 4:19
  habit.
• 4:20
  And
• 4:20
  a
• 4:20
  lot
• 4:20
  of
• 4:20
  people
• 4:21
  get
• 4:21
  stuck
• 4:21
  right
• 4:21
  now
• 4:21
  in
• 4:22
  apps
• 4:22
  and
• 4:23
  systems,
• 4:23
  and
• 4:24
  all
• 4:24
  those
• 4:24
  things
• 4:24
  are
• 4:24
  great,
• 4:25
  but
• 4:25
  they
• 4:25
  don't
• 4:26
  always
• 4:26
  answer
• 4:27
  the
• 4:27
  question.
• 4:28
  Sometimes
• 4:29
  it
• 4:29
  comes
• 4:29
  down
• 4:29
  to
• 4:30
  habits
• 4:31
  and
• 4:31
  other
• 4:32
  things
• 4:32
  that
• 4:32
  I
• 4:32
  talk
• 4:32
  about
• 4:32
  on
• 4:32
  the
• 4:33
  show
• 4:33
  all
• 4:33
  the
• 4:33
  time
• 4:33
  is
• 4:33
  automatic,
• 4:34
  invisible,
• 4:35
  stacked
• 4:35
  up
• 4:36
  habits
• 4:36
  over
• 4:36
  decades.
• 4:37
  And
• 4:38
  your
• 4:38
  mom
• 4:38
  was
• 4:38
  doing
• 4:38
  that.
• 4:39
  She
• 4:39
  picked
• 4:39
  one
• 4:39
  habit,
• 4:39
  like,
• 4:40
  here's
• 4:40
  a
• 4:40
  great
• 4:40
  one.
• 4:41
  She
• 4:41
  scraped
• 4:42
  the
• 4:42
  peanut
• 4:42
  butter
• 4:42
  jar.
• 4:42
  And
• 4:43
  my
• 4:43
  mom
• 4:43
  used
• 4:43
  to
• 4:43
  do
• 4:43
  the
• 4:43
  same
• 4:44
  thing.
• 4:44
  She
• 4:44
  would
• 4:44
  say
• 4:44
  to
• 4:44
  us
• 4:45
  as
• 4:45
  kids,
• 4:45
  hey,
• 4:45
  there's
• 4:46
  a
• 4:46
  little
• 4:46
  bit
• 4:46
  left
• 4:46
  in
• 4:46
  here.
• 4:47
  You
• 4:47
  don't
• 4:47
  need
• 4:47
  another
• 4:47
  jar.
• 4:47
  Because
• 4:48
  it
• 4:48
  would
• 4:48
  say,
• 4:48
  you
• 4:48
  gotta
• 4:48
  get
• 4:48
  in
• 4:49
  there
• 4:49
  with
• 4:49
  a
• 4:49
  knife
• 4:49
  and
• 4:49
  try
• 4:50
  to
• 4:50
  dig
• 4:50
  that
• 4:50
  out.
• 4:51
  My
• 4:51
  mom
• 4:51
  used
• 4:52
  to
• 4:52
  do
• 4:52
  things
• 4:52
  like
• 4:52
  save
• 4:53
  the
• 4:53
  chicken
• 4:53
  carcass.
• 4:54
  I
• 4:54
  know
• 4:54
  it
• 4:54
  sounds
• 4:55
  kind
• 4:55
  of
• 4:55
  gross
• 4:55
  before
• 4:55
  lunchtime
• 4:56
  talk,
• 4:56
  but
• 4:56
  she
• 4:57
  used
• 4:57
  to
• 4:57
  say
• 4:57
  that
• 4:58
  she
• 4:58
  would
• 4:58
  make
• 4:58
  broth
• 4:58
  and
• 4:59
  make
• 4:59
  soups
• 5:00
  and
• 5:00
  she
• 5:00
  would
• 5:01
  cook
• 5:01
  one
• 5:01
  meal
• 5:01
  that
• 5:01
  became
• 5:02
  two.
• 5:03
  And
• 5:03
  that's
• 5:03
  that
• 5:04
  one
• 5:04
  habit
• 5:04
  that
• 5:04
  leads
• 5:05
  to
• 5:05
  Another.
• 5:05
  And
• 5:05
  that's
• 5:06
  how
• 5:06
  your
• 5:06
  mom
• 5:06
  lived.
• 5:07
  Your
• 5:07
  mom
• 5:07
  didn't
• 5:08
  live
• 5:08
  from
• 5:08
  a
• 5:08
  spreadsheet.
• 5:10
  She
• 5:10
  saw
• 5:10
  it
• 5:11
  from
• 5:11
  a
• 5:11
  different
• 5:11
  way
• 5:12
  of
• 5:12
  looking
• 5:12
  at
• 5:12
  the
• 5:13
  world.
• 5:13
  And
• 5:13
  we
• 5:14
  found
• 5:14
  this
• 5:14
  scripture
• 5:14
  verse
• 5:14
  which
• 5:15
  I
• 5:15
  think
• 5:15
  is
• 5:15
  really
• 5:16
  apropos
• 5:17
  for
• 5:17
  to
• 5:17
  this
• 5:17
  discussion
• 5:18
  right
• 5:18
  now.
• 5:18
  And
• 5:19
  it's
• 5:19
  from
• 5:19
  Matthew,
• 5:19
  chapter
• 5:20
  6,
• 5:20
  verse
• 5:20
  11.
• 5:20
  It
• 5:21
  says,
• 5:21
  Give
• 5:21
  us
• 5:21
  today
• 5:22
  our
• 5:22
  daily
• 5:22
  bread.
• 5:23
  Now,
• 5:23
  notice
• 5:23
  what
• 5:24
  it
• 5:24
  says
• 5:24
  in
• 5:24
  that,
• 5:24
  because
• 5:25
  I
• 5:25
  think
• 5:25
  we
• 5:25
  really
• 5:25
  need
• 5:25
  to
• 5:25
  key
• 5:26
  in
• 5:26
  on
• 5:26
  this.
• 5:27
  Not
• 5:27
  a
• 5:27
  year's
• 5:28
  worth
• 5:28
  of
• 5:28
  bread,
• 5:29
  today's
• 5:30
  bread.
• 5:31
  See,
• 5:31
  your
• 5:31
  mom
• 5:31
  wasn't
• 5:32
  hoarding.
• 5:33
  She
• 5:33
  was
• 5:33
  honoring
• 5:34
  what
• 5:34
  she
• 5:34
  had.
• 5:35
  And
• 5:35
  that's
• 5:35
  biblical
• 5:36
  posture.
• 5:37
  So
• 5:37
  I
• 5:37
  want
• 5:37
  to
• 5:38
  ask
• 5:38
  in
• 5:38
  the
• 5:38
  chat
• 5:38
  right
• 5:38
  now,
• 5:38
  I
• 5:39
  see
• 5:39
  we've
• 5:39
  got
• 5:39
  several
• 5:39
  people
• 5:39
  that
• 5:40
  have
• 5:40
  joined
• 5:40
  us
• 5:40
  on
• 5:40
  Clubhouse.
• 5:41
  Thank
• 5:41
  you
• 5:41
  so
• 5:42
  much
• 5:42
  for
• 5:42
  joining
• 5:42
  us.
• 5:43
  And
• 5:44
  I
• 5:44
  will
• 5:44
  see.
• 5:44
  We'll
• 5:45
  get
• 5:45
  to
• 5:45
  those
• 5:45
  questions
• 5:45
  here
• 5:46
  in
• 5:46
  a
• 5:46
  second.
• 5:46
  But
• 5:46
  I
• 5:47
  want
• 5:47
  to
• 5:47
  ask
• 5:47
  this
• 5:47
  question
• 5:48
  in
• 5:48
  the
• 5:48
  chat.
• 5:48
  What's
• 5:49
  one
• 5:49
  old
• 5:49
  school
• 5:49
  money
• 5:50
  habit
• 5:50
  from
• 5:50
  your
• 5:50
  parents
• 5:51
  or
• 5:51
  grandparents
• 5:52
  that
• 5:52
  you've
• 5:52
  gone
• 5:53
  back
• 5:53
  to
• 5:53
  or
• 5:54
  wish
• 5:54
  that
• 5:54
  you
• 5:54
  had
• 5:55
  gone
• 5:55
  back
• 5:55
  to?
• 5:56
  I
• 5:56
  think
• 5:56
  that's
• 5:56
  really
• 5:56
  a
• 5:57
  great
• 5:57
  place
• 5:57
  to
• 5:57
  start
• 5:57
  this
• 5:58
  discussion
• 5:58
  today.
• 5:58
  What's
• 5:59
  one
• 5:59
  old
• 5:59
  school
• 6:00
  money
• 6:00
  habit
• 6:00
  from
• 6:00
  your
• 6:01
  parents
• 6:01
  or
• 6:01
  grandparents
• 6:02
  that
• 6:02
  you've
• 6:03
  gone
• 6:03
  back
• 6:03
  to
• 6:03
  or
• 6:04
  wish
• 6:04
  you
• 6:04
  had
• 6:05
  gone
• 6:05
  back
• 6:05
  to?
• 6:08
  And
• 6:08
  I'll
• 6:08
  give
• 6:08
  everybody
• 6:09
  a
• 6:09
  couple
• 6:09
  seconds
• 6:10
  here.
• 6:10
  If
• 6:10
  you
• 6:10
  want
• 6:10
  to
• 6:10
  type
• 6:10
  something
• 6:11
  in
• 6:11
  the
• 6:11
  chat
• 6:11
  or
• 6:11
  if
• 6:12
  you
• 6:12
  want
• 6:12
  to
• 6:12
  throw
• 6:12
  something
• 6:12
  onto
• 6:13
  the
• 6:13
  Facebook
• 6:14
  or
• 6:14
  onto
• 6:15
  the
• 6:15
  YouTube
• 6:16
  live.
• 6:18
  Oh,
• 6:18
  Abby,
• 6:18
  great.
• 6:19
  Great.
• 6:19
  Point
• 6:19
  envelope
• 6:20
  system.
• 6:20
  Yeah,
• 6:20
  that's
• 6:20
  something
• 6:20
  a
• 6:21
  lot
• 6:21
  of
• 6:21
  people.
• 6:22
  My
• 6:22
  grandparents
• 6:22
  used
• 6:23
  to
• 6:23
  use
• 6:23
  that.
• 6:23
  I
• 6:23
  remember
• 6:23
  as
• 6:24
  a
• 6:24
  kid,
• 6:24
  I
• 6:24
  never
• 6:24
  really
• 6:25
  understood,
• 6:25
  what's
• 6:25
  the
• 6:25
  point
• 6:25
  of
• 6:26
  this?
• 6:26
  And
• 6:26
  my
• 6:26
  grandmother
• 6:26
  would
• 6:27
  get
• 6:27
  her
• 6:27
  money
• 6:27
  out
• 6:28
  and
• 6:28
  she
• 6:28
  would
• 6:28
  set
• 6:28
  out
• 6:28
  all
• 6:29
  the
• 6:29
  envelopes
• 6:29
  on
• 6:29
  the
• 6:30
  kitchen
• 6:30
  T.
• 6:31
  And
• 6:31
  I
• 6:31
  remember
• 6:31
  my
• 6:31
  grandfather
• 6:32
  and
• 6:32
  I,
• 6:32
  we
• 6:32
  used
• 6:32
  to
• 6:32
  go
• 6:33
  fishing
• 6:33
  and
• 6:33
  he
• 6:34
  would
• 6:34
  always
• 6:34
  say
• 6:34
  to
• 6:34
  me,
• 6:34
  let
• 6:34
  me
• 6:35
  go
• 6:35
  get
• 6:35
  the
• 6:35
  fishing
• 6:35
  envelope
• 6:36
  so
• 6:36
  we
• 6:36
  could
• 6:36
  figure
• 6:36
  out
• 6:36
  how
• 6:36
  much
• 6:37
  we
• 6:37
  could
• 6:37
  spend
• 6:37
  on
• 6:38
  bait
• 6:38
  and
• 6:38
  on
• 6:38
  that
• 6:39
  kind
• 6:39
  of
• 6:39
  stuff.
• 6:39
  I
• 6:40
  like
• 6:40
  what
• 6:40
  Mark
• 6:40
  said.
• 6:40
  My
• 6:41
  wife
• 6:41
  will
• 6:41
  not
• 6:41
  open
• 6:41
  a
• 6:42
  new
• 6:42
  jar
• 6:42
  or
• 6:42
  a
• 6:42
  new
• 6:43
  carton
• 6:43
  until
• 6:43
  the
• 6:43
  old
• 6:44
  one
• 6:44
  is
• 6:44
  completely
• 6:45
  empty.
• 6:46
  Yeah,
• 6:46
  exactly,
• 6:46
  Mark.
• 6:47
  My
• 6:47
  mom
• 6:47
  used
• 6:47
  to
• 6:47
  do
• 6:47
  the
• 6:48
  exact
• 6:48
  same
• 6:48
  thing.
• 6:49
  And
• 6:49
  J.R.
• 6:50
  i
• 6:50
  got
• 6:50
  your
• 6:50
  question.
• 6:50
  What's
• 6:51
  one
• 6:51
  financial
• 6:51
  habit
• 6:52
  you
• 6:52
  could
• 6:52
  start
• 6:52
  this
• 6:52
  week
• 6:52
  that
• 6:53
  would
• 6:53
  still
• 6:53
  matter
• 6:53
  five
• 6:54
  years
• 6:54
  from
• 6:54
  now?
• 6:55
  Let's
• 6:55
  come
• 6:55
  back
• 6:55
  to
• 6:55
  that
• 6:55
  because
• 6:56
  I
• 6:56
  think
• 6:56
  that
• 6:56
  is
• 6:56
  a
• 6:56
  really
• 6:57
  good
• 6:57
  point.
• 6:57
  And
• 6:57
  it
• 6:57
  kind
• 6:57
  of
• 6:58
  talks
• 6:58
  along
• 6:58
  the
• 6:59
  lines
• 6:59
  of
• 6:59
  what
• 6:59
  we're
• 6:59
  talking
• 6:59
  about
• 7:00
  right
• 7:00
  now?
• 7:01
  Well,
• 7:01
  I
• 7:01
  found
• 7:01
  this
• 7:02
  article,
• 7:02
  and
• 7:02
  I
• 7:02
  want
• 7:02
  to
• 7:02
  pivot
• 7:03
  to
• 7:03
  this
• 7:03
  a
• 7:03
  little
• 7:03
  bit
• 7:03
  right
• 7:03
  now.
• 7:04
  We
• 7:04
  found
• 7:04
  an
• 7:05
  article,
• 7:05
  and
• 7:06
  this
• 7:06
  is
• 7:06
  from
• 7:06
  buzzfeed.
• 7:07
  It
• 7:07
  was
• 7:07
  also
• 7:07
  on
• 7:07
  Reddit.
• 7:08
  And
• 7:08
  it
• 7:08
  said
• 7:09
  old
• 7:09
  school
• 7:09
  money
• 7:10
  habits
• 7:10
  your
• 7:10
  grandparents
• 7:11
  knew.
• 7:12
  And
• 7:12
  we'll
• 7:12
  put
• 7:12
  a
• 7:12
  link
• 7:13
  to
• 7:13
  that
• 7:13
  in
• 7:13
  the
• 7:13
  show
• 7:13
  notes.
• 7:14
  But
• 7:14
  that
• 7:14
  question
• 7:15
  we
• 7:15
  talked
• 7:15
  about
• 7:15
  today
• 7:16
  connects
• 7:17
  directly
• 7:17
  to
• 7:17
  the
• 7:17
  thread
• 7:18
  going
• 7:18
  on
• 7:18
  around
• 7:18
  Reddit.
• 7:19
  In
• 7:19
  this
• 7:19
  particular
• 7:20
  thing,
• 7:20
  people
• 7:21
  were
• 7:21
  sharing
• 7:21
  what
• 7:21
  their
• 7:22
  grandparents
• 7:22
  did
• 7:22
  with
• 7:23
  money.
• 7:23
  And
• 7:24
  what
• 7:24
  struck
• 7:24
  me
• 7:25
  wasn't
• 7:25
  the
• 7:25
  habits
• 7:26
  were.
• 7:26
  It
• 7:27
  wasn't
• 7:27
  that
• 7:27
  the
• 7:27
  habits
• 7:27
  were
• 7:27
  clever.
• 7:28
  It
• 7:28
  wasn't
• 7:28
  that
• 7:28
  it
• 7:28
  was.
• 7:29
  Nobody
• 7:29
  called
• 7:29
  them
• 7:29
  hacks
• 7:30
  back
• 7:30
  then.
• 7:31
  They
• 7:31
  just
• 7:31
  called
• 7:31
  it
• 7:32
  how
• 7:32
  you
• 7:32
  lived.
• 7:32
  It
• 7:33
  was
• 7:33
  just
• 7:33
  the
• 7:33
  things
• 7:33
  that
• 7:34
  they
• 7:34
  did.
• 7:36
  There's
• 7:36
  a
• 7:36
  ton
• 7:36
  of
• 7:36
  people
• 7:37
  spending
• 7:37
  money
• 7:37
  on
• 7:37
  budgeting
• 7:38
  tools
• 7:39
  and
• 7:39
  they
• 7:39
  can't
• 7:39
  even
• 7:40
  cover
• 7:40
  their
• 7:40
  groceries.
• 7:41
  And
• 7:41
  these
• 7:42
  modern
• 7:42
  solutions
• 7:42
  we
• 7:43
  have
• 7:43
  assume
• 7:43
  time
• 7:44
  and
• 7:44
  energy
• 7:44
  that
• 7:45
  stretched
• 7:45
  families
• 7:45
  don't
• 7:46
  have.
• 7:47
  The
• 7:47
  habits
• 7:47
  that
• 7:48
  actually
• 7:48
  worked
• 7:48
  have
• 7:49
  been
• 7:49
  sitting
• 7:49
  in
• 7:49
  front
• 7:50
  of
• 7:50
  us
• 7:50
  the
• 7:50
  whole
• 7:50
  time.
• 7:51
  So
• 7:51
  let's
• 7:51
  get
• 7:52
  into
• 7:52
  some
• 7:52
  of
• 7:52
  those
• 7:52
  key
• 7:53
  habits
• 7:53
  to
• 7:54
  really
• 7:54
  help
• 7:54
  you
• 7:54
  save
• 7:54
  money,
• 7:55
  because
• 7:55
  what
• 7:55
  you're
• 7:55
  asking
• 7:56
  about
• 7:56
  is
• 7:56
  very
• 7:57
  specific.
• 7:58
  We
• 7:58
  are
• 7:58
  living
• 7:58
  in
• 7:58
  times
• 7:59
  when
• 7:59
  groceries
• 7:59
  are
• 8:00
  expensive.
• 8:01
  My
• 8:01
  wife
• 8:01
  handles
• 8:02
  the
• 8:02
  grocery
• 8:02
  shopping
• 8:02
  for
• 8:03
  our
• 8:03
  family,
• 8:03
  and
• 8:03
  every
• 8:03
  once
• 8:04
  in
• 8:04
  a
• 8:04
  while
• 8:04
  she
• 8:04
  drags
• 8:05
  me
• 8:05
  along
• 8:05
  to
• 8:05
  the
• 8:05
  grocery
• 8:06
  store
• 8:06
  and
• 8:06
  she
• 8:07
  gets
• 8:07
  angry
• 8:07
  with
• 8:07
  me
• 8:08
  because
• 8:08
  I
• 8:08
  look
• 8:08
  at
• 8:08
  everything
• 8:09
  and
• 8:09
  say,
• 8:09
  I
• 8:09
  can't
• 8:09
  believe
• 8:09
  this
• 8:10
  is
• 8:10
  how
• 8:10
  much
• 8:10
  this
• 8:10
  costs,
• 8:11
  but
• 8:12
  it's
• 8:12
  expensive.
• 8:13
  Here's
• 8:14
  the
• 8:14
  thing
• 8:14
  I
• 8:14
  will
• 8:14
  tell
• 8:15
  you.
• 8:15
  In
• 8:15
  my
• 8:15
  professional
• 8:16
  opinion,
• 8:17
  cooking
• 8:17
  your
• 8:17
  own
• 8:18
  food
• 8:19
  is
• 8:19
  the
• 8:19
  single
• 8:20
  biggest
• 8:20
  money
• 8:20
  move
• 8:21
  you
• 8:21
  can
• 8:21
  do.
• 8:21
  Now,
• 8:22
  I
• 8:22
  know
• 8:22
  that's
• 8:22
  not
• 8:22
  the
• 8:22
  most
• 8:22
  convenient
• 8:23
  thing
• 8:23
  to
• 8:23
  do.
• 8:24
  It
• 8:24
  takes
• 8:24
  a
• 8:24
  little
• 8:24
  planning.
• 8:25
  But
• 8:25
  where
• 8:26
  I
• 8:26
  see
• 8:26
  most
• 8:26
  people
• 8:27
  losing
• 8:28
  money,
• 8:28
  you
• 8:28
  know,
• 8:28
  the
• 8:29
  hole
• 8:29
  in
• 8:29
  the
• 8:29
  boat
• 8:29
  or
• 8:29
  whatever
• 8:30
  you
• 8:30
  want
• 8:30
  to
• 8:30
  call
• 8:30
  it,
• 8:30
  is
• 8:31
  eating
• 8:31
  out
• 8:31
  all
• 8:31
  the
• 8:32
  time,
• 8:32
  or
• 8:32
  even
• 8:32
  ordering
• 8:33
  out.
• 8:34
  That
• 8:34
  is
• 8:34
  the
• 8:34
  key.
• 8:35
  Cooking
• 8:36
  food
• 8:36
  at
• 8:36
  home.
• 8:36
  Which
• 8:36
  leads
• 8:37
  me
• 8:37
  to
• 8:37
  the
• 8:37
  second
• 8:37
  thing.
• 8:38
  You've
• 8:38
  got
• 8:39
  to
• 8:39
  have
• 8:39
  a
• 8:39
  plan
• 8:40
  for
• 8:40
  a
• 8:40
  meal.
• 8:42
  Plan
• 8:42
  out
• 8:42
  your
• 8:42
  meals.
• 8:43
  Think
• 8:43
  about
• 8:43
  strategically,
• 8:44
  what
• 8:44
  do
• 8:44
  you
• 8:44
  need?
• 8:45
  Because
• 8:45
  if
• 8:45
  you
• 8:45
  wait
• 8:45
  to
• 8:45
  get
• 8:46
  to
• 8:46
  the
• 8:46
  grocery
• 8:46
  store,
• 8:47
  you're
• 8:47
  going
• 8:47
  to
• 8:48
  listen.
• 8:48
  Grocery
• 8:49
  stores
• 8:49
  are
• 8:49
  designed
• 8:50
  to
• 8:50
  make
• 8:50
  you
• 8:50
  spend
• 8:51
  more.
• 8:51
  That
• 8:51
  is
• 8:52
  the
• 8:52
  whole
• 8:52
  point
• 8:52
  of
• 8:52
  them.
• 8:53
  That's
• 8:53
  what
• 8:53
  they
• 8:53
  do.
• 8:54
  So
• 8:54
  have
• 8:55
  your
• 8:55
  meals
• 8:55
  planned
• 8:56
  out
• 8:56
  in
• 8:56
  advance.
• 8:56
  You
• 8:56
  know
• 8:57
  the
• 8:57
  old
• 8:57
  adage,
• 8:57
  don't
• 8:57
  go
• 8:58
  to
• 8:58
  the
• 8:58
  supermarket
• 8:58
  when
• 8:58
  you're
• 8:59
  hungry.
• 8:59
  Another
• 9:00
  good
• 9:00
  thing.
• 9:01
  One
• 9:01
  commentator
• 9:02
  in
• 9:02
  one
• 9:02
  of
• 9:02
  these
• 9:02
  articles
• 9:02
  called
• 9:03
  it
• 9:03
  the
• 9:03
  cornerstone
• 9:04
  of
• 9:04
  everything
• 9:04
  else,
• 9:04
  I
• 9:05
  believe.
• 9:06
  And
• 9:06
  then
• 9:06
  the
• 9:07
  other
• 9:07
  thing
• 9:07
  they
• 9:07
  said
• 9:07
  is
• 9:07
  use
• 9:08
  every
• 9:08
  part
• 9:08
  of
• 9:08
  what
• 9:09
  you
• 9:09
  buy.
• 9:09
  Like
• 9:09
  I
• 9:09
  talked
• 9:10
  about
• 9:10
  with
• 9:10
  my
• 9:10
  grandmother
• 9:11
  and
• 9:11
  my
• 9:11
  mother,
• 9:11
  using
• 9:12
  that
• 9:12
  chicken
• 9:12
  carcass.
• 9:13
  As
• 9:13
  Mark
• 9:14
  said,
• 9:14
  the
• 9:14
  bottom
• 9:14
  of
• 9:14
  the
• 9:15
  jar.
• 9:15
  We're
• 9:15
  not
• 9:15
  open
• 9:15
  up
• 9:16
  another
• 9:16
  one
• 9:16
  until
• 9:16
  it's
• 9:16
  empty.
• 9:17
  Those
• 9:17
  leftovers
• 9:18
  become
• 9:18
  tomorrow's
• 9:19
  lunch.
• 9:20
  And
• 9:20
  that's
• 9:20
  not
• 9:21
  about
• 9:21
  poverty.
• 9:21
  That's
• 9:22
  just
• 9:22
  the
• 9:22
  reality
• 9:23
  of
• 9:23
  where
• 9:23
  we
• 9:23
  live.
• 9:25
  It's
• 9:25
  a
• 9:25
  different
• 9:25
  relationship
• 9:26
  with
• 9:26
  what
• 9:26
  you
• 9:27
  have.
• 9:28
  Again,
• 9:28
  like
• 9:28
  I
• 9:28
  said,
• 9:28
  not
• 9:29
  shopping
• 9:29
  hungry
• 9:30
  is
• 9:30
  a
• 9:30
  free
• 9:30
  rule
• 9:30
  that
• 9:31
  prevents
• 9:31
  impulse
• 9:31
  buys
• 9:32
  and
• 9:32
  keeps
• 9:32
  junk
• 9:32
  food
• 9:32
  out
• 9:33
  of
• 9:33
  the
• 9:33
  cart.
• 9:34
  Another
• 9:34
  thing
• 9:34
  that
• 9:34
  I
• 9:34
  would
• 9:35
  highly
• 9:35
  recommend
• 9:36
  is
• 9:36
  building
• 9:36
  a
• 9:37
  deep
• 9:37
  pantry
• 9:37
  of
• 9:38
  shelf,
• 9:38
  stable
• 9:39
  and
• 9:39
  frozen
• 9:39
  items
• 9:40
  so
• 9:40
  you're
• 9:40
  not
• 9:41
  scrambling
• 9:41
  at
• 9:41
  the
• 9:41
  last
• 9:42
  minute.
• 9:42
  I
• 9:42
  think
• 9:42
  that's
• 9:42
  one
• 9:42
  of
• 9:42
  the
• 9:43
  biggest
• 9:43
  things
• 9:43
  I
• 9:43
  know
• 9:43
  when
• 9:44
  our
• 9:44
  kids
• 9:44
  were
• 9:44
  younger.
• 9:44
  Now
• 9:44
  my
• 9:45
  son
• 9:45
  will
• 9:45
  be
• 9:45
  25
• 9:46
  actually
• 9:46
  Monday.
• 9:46
  I
• 9:46
  can't
• 9:47
  believe
• 9:47
  he's
• 9:47
  going
• 9:47
  to
• 9:47
  be
• 9:47
  that
• 9:47
  old.
• 9:48
  And
• 9:48
  My
• 9:48
  oldest
• 9:48
  is
• 9:49
  28.
• 9:49
  And
• 9:50
  I
• 9:50
  remember
• 9:50
  when
• 9:50
  the
• 9:50
  kids
• 9:50
  were
• 9:50
  real
• 9:51
  young,
• 9:51
  this
• 9:52
  was
• 9:52
  a
• 9:52
  challenge
• 9:53
  because
• 9:53
  we
• 9:53
  had
• 9:53
  busy
• 9:54
  lives.
• 9:54
  The
• 9:54
  kids
• 9:54
  were
• 9:55
  going
• 9:55
  here,
• 9:55
  we
• 9:55
  were
• 9:55
  going
• 9:55
  there.
• 9:56
  So
• 9:56
  one
• 9:56
  of
• 9:56
  the
• 9:56
  things
• 9:57
  my
• 9:57
  wife
• 9:57
  was
• 9:57
  really
• 9:57
  good
• 9:58
  at
• 9:58
  is
• 9:58
  building
• 9:59
  that
• 9:59
  pantry
• 10:00
  and
• 10:00
  planning
• 10:01
  those
• 10:01
  meals
• 10:01
  ahead
• 10:01
  of
• 10:01
  time.
• 10:02
  Now,
• 10:02
  there
• 10:02
  were
• 10:02
  some
• 10:02
  quotes
• 10:02
  from
• 10:03
  this
• 10:03
  that
• 10:03
  I
• 10:03
  thought
• 10:03
  were
• 10:04
  really
• 10:04
  appropriate
• 10:05
  for
• 10:05
  today.
• 10:05
  This
• 10:05
  is
• 10:05
  somebody
• 10:06
  said,
• 10:06
  even
• 10:06
  when
• 10:07
  we
• 10:07
  thought
• 10:07
  we
• 10:07
  had
• 10:07
  no
• 10:08
  food
• 10:08
  and
• 10:08
  needed
• 10:09
  to
• 10:09
  grocery
• 10:09
  shop,
• 10:10
  my
• 10:10
  grandma
• 10:10
  would
• 10:11
  say,
• 10:11
  what?
• 10:11
  There's
• 10:12
  tons
• 10:12
  of
• 10:12
  food
• 10:13
  in
• 10:13
  here?
• 10:13
  And
• 10:13
  she
• 10:14
  would
• 10:14
  proceed
• 10:14
  to
• 10:14
  make
• 10:14
  the
• 10:15
  most
• 10:15
  comforting
• 10:15
  meal
• 10:16
  out
• 10:16
  wherever
• 10:16
  we
• 10:16
  had
• 10:17
  lying
• 10:17
  around.
• 10:18
  That
• 10:18
  was
• 10:18
  from
• 10:19
  somebody
• 10:19
  named
• 10:19
  Desert
• 10:20
  Sunshine.
• 10:20
  13
• 10:21
  from
• 10:21
  Reddit.
• 10:22
  Here's
• 10:22
  another
• 10:22
  quote.
• 10:22
  They
• 10:23
  said
• 10:23
  my
• 10:23
  mother
• 10:23
  always
• 10:23
  used
• 10:24
  all
• 10:24
  of
• 10:24
  her
• 10:24
  food.
• 10:25
  If
• 10:25
  she
• 10:25
  roasted
• 10:26
  a
• 10:26
  chicken,
• 10:26
  the
• 10:26
  carcass
• 10:27
  became
• 10:27
  chicken
• 10:27
  broth
• 10:28
  and
• 10:28
  chicken
• 10:28
  soup.
• 10:29
  Throwing
• 10:29
  out
• 10:29
  food
• 10:30
  was
• 10:30
  simply
• 10:30
  not
• 10:31
  acceptable.
• 10:32
  That
• 10:32
  was
• 10:32
  from
• 10:32
  somebody
• 10:33
  named
• 10:33
  NoTransition8293.
• 10:37
  And
• 10:37
  the
• 10:37
  last
• 10:37
  one
• 10:37
  I'm
• 10:37
  going
• 10:38
  to
• 10:38
  talk
• 10:38
  about
• 10:38
  is
• 10:38
  a
• 10:38
  quote
• 10:38
  here.
• 10:39
  It
• 10:39
  says,
• 10:39
  I
• 10:39
  Drive
• 10:39
  a
• 10:39
  2013
• 10:40
  Honda
• 10:40
  Civic.
• 10:41
  The
• 10:41
  interior
• 10:42
  is
• 10:42
  worn
• 10:43
  and
• 10:43
  faded,
• 10:44
  but
• 10:44
  I
• 10:44
  have
• 10:44
  no
• 10:44
  car
• 10:45
  payment.
• 10:45
  And
• 10:46
  that's
• 10:46
  from
• 10:46
  somebody
• 10:46
  named
• 10:47
  some
• 10:47
  tangerine
• 10:47
  1180
• 10:48
  for
• 10:48
  all
• 10:49
  very
• 10:49
  good
• 10:50
  points,
• 10:51
  which
• 10:51
  gets
• 10:52
  me
• 10:52
  to
• 10:52
  this
• 10:52
  point.
• 10:52
  Here's
• 10:53
  my
• 10:53
  takeaway
• 10:53
  from
• 10:54
  all
• 10:54
  this.
• 10:55
  Stop
• 10:55
  living
• 10:56
  in
• 10:56
  shame.
• 10:57
  There's
• 10:58
  no
• 10:58
  reason
• 10:58
  to
• 10:58
  be
• 10:58
  embarrassed
• 10:59
  for
• 10:59
  being
• 10:59
  frugal.
• 11:01
  There's
• 11:01
  no
• 11:01
  reason
• 11:01
  to
• 11:02
  be
• 11:02
  embarrassed
• 11:02
  for
• 11:02
  cutting
• 11:03
  corners
• 11:03
  and
• 11:04
  making
• 11:04
  meal
• 11:04
  plans
• 11:05
  and
• 11:05
  doing
• 11:05
  all
• 11:05
  that
• 11:05
  stuff
• 11:06
  at
• 11:06
  home.
• 11:07
  Because
• 11:07
  in
• 11:07
  the
• 11:08
  end,
• 11:08
  you're
• 11:08
  going
• 11:09
  to
• 11:09
  be
• 11:09
  out
• 11:09
  of
• 11:09
  debt.
• 11:10
  You're
• 11:10
  going
• 11:10
  to
• 11:10
  be
• 11:10
  sleeping
• 11:11
  at
• 11:11
  night,
• 11:11
  no
• 11:12
  car
• 11:12
  payment.
• 11:12
  These
• 11:12
  are
• 11:13
  all
• 11:13
  great
• 11:13
  things.
• 11:14
  I've
• 11:14
  even
• 11:14
  counseled
• 11:15
  people.
• 11:15
  Sometimes
• 11:15
  you
• 11:16
  got
• 11:16
  to
• 11:16
  go
• 11:16
  sell
• 11:16
  something.
• 11:18
  You
• 11:18
  got
• 11:18
  to
• 11:19
  do
• 11:19
  what
• 11:19
  you
• 11:19
  got
• 11:19
  to
• 11:19
  do.
• 11:21
  They're
• 11:21
  better
• 11:21
  for
• 11:22
  it
• 11:22
  in
• 11:22
  the
• 11:22
  end.
• 11:23
  Which
• 11:23
  is
• 11:23
  why
• 11:23
  we
• 11:23
  go
• 11:24
  to
• 11:24
  scripture
• 11:24
  verse.
• 11:25
  Proverbs
• 11:25
  13:11
• 11:26
  says,
• 11:26
  Whoever
• 11:26
  gathers
• 11:27
  money
• 11:27
  little
• 11:27
  by
• 11:27
  little
• 11:27
  makes
• 11:28
  it
• 11:28
  grow.
• 11:29
  And
• 11:29
  that's
• 11:29
  what
• 11:29
  we're
• 11:29
  really
• 11:30
  talking
• 11:30
  about
• 11:30
  here
• 11:30
  today.
• 11:31
  Little
• 11:32
  by
• 11:32
  little
• 11:32
  things.
• 11:33
  A
• 11:34
  saved
• 11:34
  jar,
• 11:35
  a
• 11:35
  practice,
• 11:36
  a
• 11:36
  habit.
• 11:37
  That
• 11:37
  practice
• 11:38
  becomes
• 11:38
  a
• 11:38
  life
• 11:40
  all
• 11:40
  right,
• 11:41
  well,
• 11:41
  let
• 11:41
  me
• 11:41
  take
• 11:41
  a
• 11:41
  look
• 11:41
  at
• 11:42
  the
• 11:42
  chat
• 11:42
  here.
• 11:42
  Let's
• 11:43
  see.
• 11:43
  So,
• 11:43
  Junior,
• 11:43
  what's
• 11:44
  one
• 11:44
  financial
• 11:44
  habit
• 11:45
  you
• 11:45
  could
• 11:45
  start
• 11:45
  this
• 11:46
  week
• 11:46
  that
• 11:46
  would
• 11:47
  still
• 11:47
  matter
• 11:47
  five
• 11:47
  years
• 11:48
  from
• 11:48
  now?
• 11:48
  I'm
• 11:48
  going
• 11:48
  to
• 11:48
  answer
• 11:49
  that
• 11:49
  right
• 11:49
  now
• 11:49
  because
• 11:49
  that's
• 11:50
  a
• 11:50
  brilliant
• 11:50
  question.
• 11:51
  I
• 11:52
  think
• 11:52
  the
• 11:52
  biggest
• 11:53
  single
• 11:53
  financial
• 11:54
  habit
• 11:54
  is
• 11:55
  to
• 11:55
  measure
• 11:56
  where
• 11:56
  your
• 11:56
  money's
• 11:56
  going
• 11:57
  and
• 11:57
  have
• 11:57
  a
• 11:57
  plan
• 11:57
  for
• 11:58
  your
• 11:58
  money.
• 11:58
  And
• 11:58
  I'm
• 11:59
  going
• 11:59
  to
• 11:59
  be
• 11:59
  talking
• 11:59
  about
• 11:59
  that
• 11:59
  again
• 12:00
  in
• 12:00
  the
• 12:00
  future.
• 12:00
  I'm
• 12:01
  actually
• 12:01
  building
• 12:02
  what
• 12:02
  I'm
• 12:02
  going
• 12:02
  to
• 12:02
  call
• 12:02
  a
• 12:03
  sexy
• 12:03
  budget
• 12:04
  program.
• 12:04
  A
• 12:04
  lot
• 12:05
  of
• 12:05
  people
• 12:05
  don't
• 12:05
  want
• 12:05
  to
• 12:05
  talk
• 12:05
  about
• 12:06
  budgets,
• 12:06
  but
• 12:06
  I'm
• 12:07
  going
• 12:07
  to
• 12:07
  make
• 12:07
  them
• 12:07
  sexy,
• 12:08
  believe
• 12:08
  it
• 12:08
  or
• 12:08
  not,
• 12:09
  because
• 12:09
  I
• 12:09
  think
• 12:10
  that
• 12:10
  is
• 12:10
  the
• 12:10
  number
• 12:11
  one
• 12:11
  thing.
• 12:11
  When
• 12:11
  I
• 12:12
  talk
• 12:12
  to
• 12:12
  people,
• 12:12
  especially
• 12:13
  younger
• 12:13
  people,
• 12:14
  the
• 12:14
  number
• 12:14
  one
• 12:14
  thing
• 12:14
  they
• 12:14
  tell
• 12:15
  me
• 12:15
  is,
• 12:15
  Ralph,
• 12:15
  I
• 12:15
  just
• 12:16
  don't
• 12:16
  know
• 12:16
  how
• 12:16
  to
• 12:16
  budget.
• 12:17
  I
• 12:17
  don't
• 12:17
  know
• 12:17
  how
• 12:17
  to
• 12:18
  plan.
• 12:19
  And
• 12:19
  I'm
• 12:19
  going
• 12:19
  to
• 12:19
  talk
• 12:19
  about
• 12:20
  specifically
• 12:20
  how
• 12:20
  to
• 12:20
  do
• 12:20
  that.
• 12:21
  But,
• 12:21
  Junior,
• 12:21
  to
• 12:21
  really
• 12:21
  answer
• 12:22
  your
• 12:22
  question,
• 12:22
  to
• 12:23
  lean
• 12:23
  into
• 12:23
  that,
• 12:24
  that's
• 12:25
  the
• 12:25
  number
• 12:25
  one
• 12:25
  thing,
• 12:26
  is
• 12:26
  have
• 12:26
  a
• 12:26
  plan.
• 12:27
  One
• 12:27
  of
• 12:27
  the
• 12:27
  things
• 12:28
  I'm
• 12:28
  going
• 12:28
  to
• 12:28
  talk
• 12:28
  about
• 12:28
  is
• 12:29
  I
• 12:29
  think
• 12:29
  you've
• 12:29
  got
• 12:29
  to
• 12:29
  give
• 12:30
  every
• 12:30
  single
• 12:30
  dollar
• 12:31
  that
• 12:31
  comes
• 12:31
  in
• 12:31
  and
• 12:32
  out
• 12:32
  of
• 12:32
  your
• 12:32
  life
• 12:32
  a
• 12:32
  job.
• 12:33
  It's
• 12:34
  when
• 12:34
  they
• 12:34
  don't
• 12:34
  have
• 12:34
  a
• 12:35
  job
• 12:35
  that
• 12:35
  it
• 12:35
  causes
• 12:36
  problems.
• 12:37
  So
• 12:37
  thank
• 12:38
  you
• 12:38
  so
• 12:38
  much
• 12:38
  for
• 12:38
  sharing
• 12:38
  that.
• 12:39
  It
• 12:39
  was
• 12:39
  a
• 12:39
  great
• 12:39
  question.
• 12:39
  I
• 12:40
  see
• 12:40
  Abby
• 12:40
  put
• 12:40
  in,
• 12:40
  my
• 12:41
  partner
• 12:41
  loves
• 12:41
  planning
• 12:42
  our
• 12:42
  meals
• 12:42
  for
• 12:42
  the
• 12:42
  week.
• 12:43
  Yeah,
• 12:43
  Abby,
• 12:43
  I
• 12:43
  think
• 12:43
  that's
• 12:44
  a
• 12:44
  great
• 12:44
  point.
• 12:44
  Also.
• 12:44
  I
• 12:45
  think
• 12:45
  if
• 12:45
  you
• 12:45
  lay
• 12:45
  that
• 12:45
  stuff
• 12:46
  out,
• 12:46
  because
• 12:46
  you
• 12:46
  can
• 12:46
  actually
• 12:47
  build
• 12:47
  in
• 12:47
  there,
• 12:48
  the
• 12:48
  idea
• 12:48
  that
• 12:49
  you're
• 12:49
  going
• 12:49
  to
• 12:49
  have
• 12:49
  your
• 12:50
  grocery
• 12:50
  budget,
• 12:50
  you're
• 12:51
  going
• 12:51
  to
• 12:51
  have
• 12:51
  your
• 12:51
  groceries
• 12:51
  ready
• 12:52
  before
• 12:52
  you
• 12:52
  even
• 12:52
  get
• 12:52
  to
• 12:53
  the
• 12:53
  store.
• 12:53
  You
• 12:53
  can
• 12:54
  buy
• 12:54
  wisely
• 12:54
  and
• 12:55
  you
• 12:55
  can
• 12:55
  make
• 12:55
  smart
• 12:55
  decisions.
• 12:56
  And
• 12:56
  my
• 12:57
  youngest
• 12:57
  son,
• 12:57
  he's
• 12:57
  finally
• 12:58
  figuring
• 12:58
  this
• 12:58
  out.
• 12:58
  He
• 12:58
  used
• 12:58
  to
• 12:59
  eat
• 12:59
  out
• 12:59
  for
• 12:59
  lunch
• 12:59
  every
• 13:00
  single
• 13:00
  day.
• 13:00
  And
• 13:00
  I
• 13:00
  said,
• 13:00
  dude,
• 13:01
  you're
• 13:01
  spending
• 13:01
  so
• 13:02
  much
• 13:02
  money
• 13:02
  doing
• 13:02
  this.
• 13:03
  And
• 13:03
  he
• 13:03
  said,
• 13:04
  dad,
• 13:04
  here's
• 13:04
  what
• 13:04
  I
• 13:04
  started
• 13:04
  doing.
• 13:05
  He
• 13:05
  said,
• 13:05
  I
• 13:05
  cook
• 13:06
  a
• 13:06
  little
• 13:06
  more
• 13:06
  at
• 13:06
  dinner
• 13:07
  time.
• 13:07
  And
• 13:07
  then
• 13:07
  what
• 13:08
  happens?
• 13:08
  That's
• 13:08
  my
• 13:08
  lunch
• 13:09
  for
• 13:09
  the
• 13:09
  next
• 13:09
  day.
• 13:10
  And
• 13:10
  I
• 13:10
  said,
• 13:10
  dad's
• 13:11
  great.
• 13:11
  How
• 13:11
  much
• 13:11
  money
• 13:11
  have
• 13:12
  you
• 13:12
  saved?
• 13:12
  He
• 13:12
  said,
• 13:12
  dad,
• 13:13
  he
• 13:13
  says,
• 13:14
  I
• 13:14
  usually
• 13:14
  spend.
• 13:14
  Now
• 13:14
  he's
• 13:15
  a
• 13:15
  big
• 13:15
  kid.
• 13:15
  He's
• 13:16
  six,
• 13:16
  seven,
• 13:16
  I
• 13:17
  think
• 13:17
  he's
• 13:17
  300
• 13:17
  and
• 13:17
  some
• 13:18
  pounds.
• 13:18
  We
• 13:19
  call
• 13:19
  him
• 13:19
  Sasquatch.
• 13:19
  I
• 13:19
  mean,
• 13:20
  he's
• 13:20
  massive,
• 13:20
  right?
• 13:21
  So
• 13:21
  he
• 13:21
  can
• 13:21
  eat
• 13:21
  some
• 13:22
  food.
• 13:23
  And
• 13:23
  he
• 13:23
  said,
• 13:23
  dad,
• 13:24
  he
• 13:24
  says,
• 13:24
  when
• 13:24
  I
• 13:24
  go
• 13:24
  out
• 13:24
  to
• 13:25
  lunch,
• 13:25
  it's
• 13:25
  like
• 13:25
  20
• 13:25
  or
• 13:25
  $25.
• 13:26
  I'm
• 13:26
  like,
• 13:27
  well,
• 13:27
  you're
• 13:27
  probably
• 13:27
  eating
• 13:27
  for
• 13:27
  two
• 13:28
  people,
• 13:28
  dude.
• 13:29
  But
• 13:29
  he
• 13:29
  says,
• 13:29
  I'm
• 13:29
  saving
• 13:30
  almost
• 13:30
  $100
• 13:31
  a
• 13:31
  week
• 13:32
  and
• 13:32
  on
• 13:32
  a
• 13:33
  barber's
• 13:33
  budget.
• 13:34
  That's
• 13:34
  fantastic.
• 13:35
  So
• 13:35
  those
• 13:36
  are
• 13:36
  all
• 13:36
  things
• 13:36
  that
• 13:36
  you
• 13:37
  can
• 13:37
  do
• 13:37
  to
• 13:38
  help
• 13:38
  in
• 13:38
  this
• 13:38
  situation
• 13:38
  because
• 13:39
  yes,
• 13:39
  groceries
• 13:39
  are
• 13:40
  expensive.
• 13:40
  I
• 13:40
  totally
• 13:41
  get
• 13:41
  it.
• 13:41
  Well,
• 13:42
  let's
• 13:42
  move
• 13:42
  to
• 13:42
  our
• 13:42
  second
• 13:43
  question.
• 13:43
  We
• 13:44
  titled
• 13:44
  this
• 13:44
  one
• 13:44
  22
• 13:45
  Years
• 13:45
  and
• 13:45
  in
• 13:46
  Suddenly
• 13:46
  Scared.
• 13:47
  This
• 13:47
  was
• 13:47
  an
• 13:48
  email
• 13:48
  from
• 13:48
  somebody
• 13:49
  named
• 13:49
  David,
• 13:50
  and
• 13:50
  he
• 13:50
  put
• 13:50
  in
• 13:50
  the
• 13:50
  subject
• 13:50
  line
• 13:51
  401K.
• 13:51
  Millionaires
• 13:52
  don't
• 13:52
  exist
• 13:53
  for
• 13:53
  people
• 13:53
  like
• 13:53
  me.
• 13:54
  And
• 13:55
  this
• 13:55
  one
• 13:55
  really
• 13:55
  hit
• 13:56
  home
• 13:56
  for
• 13:56
  me.
• 13:56
  This
• 13:56
  is
• 13:56
  a
• 13:56
  question
• 13:57
  I
• 13:57
  get
• 13:57
  a
• 13:57
  lot
• 13:57
  from
• 13:58
  customers
• 13:58
  and
• 13:59
  people
• 13:59
  on
• 13:59
  the
• 13:59
  show
• 13:59
  that
• 13:59
  I
• 14:00
  deal
• 14:00
  with,
• 14:00
  said
• 14:00
  Ralph.
• 14:00
  I
• 14:01
  see
• 14:01
  all
• 14:01
  these
• 14:01
  articles
• 14:02
  about
• 14:02
  record
• 14:03
  401k
• 14:03
  balances
• 14:04
  and
• 14:04
  I
• 14:05
  see
• 14:05
  that
• 14:05
  there's
• 14:05
  665,000
• 14:07
  millionaires
• 14:08
  in
• 14:08
  fidelity
• 14:08
  plans,
• 14:09
  and
• 14:09
  it
• 14:10
  feels
• 14:10
  like
• 14:10
  I'm
• 14:10
  living
• 14:11
  on
• 14:11
  another
• 14:11
  planet.
• 14:13
  David,
• 14:13
  I've
• 14:13
  been
• 14:14
  on
• 14:14
  that
• 14:14
  planet
• 14:14
  too,
• 14:14
  my
• 14:14
  friend.
• 14:15
  I
• 14:15
  totally
• 14:15
  get
• 14:15
  it,
• 14:16
  but
• 14:16
  let
• 14:16
  me
• 14:16
  continue.
• 14:17
  He
• 14:17
  says,
• 14:17
  my
• 14:17
  company,
• 14:17
  Auto,
• 14:18
  enrolled
• 14:18
  me
• 14:18
  in
• 14:19
  the
• 14:19
  401k
• 14:20
  a
• 14:20
  few
• 14:20
  years
• 14:20
  ago.
• 14:21
  I
• 14:21
  contribute
• 14:22
  what
• 14:22
  I
• 14:22
  can,
• 14:22
  maybe
• 14:23
  6
• 14:23
  or
• 14:23
  7%
• 14:24
  when
• 14:24
  I
• 14:24
  can
• 14:24
  afford
• 14:25
  it,
• 14:25
  but
• 14:26
  honestly,
• 14:26
  I'm
• 14:27
  barely
• 14:27
  keeping
• 14:27
  up
• 14:27
  with
• 14:27
  rent
• 14:28
  and
• 14:28
  child
• 14:28
  care
• 14:28
  costs.
• 14:29
  What
• 14:30
  worries
• 14:30
  me
• 14:30
  is
• 14:30
  this
• 14:31
  article
• 14:31
  keeps
• 14:31
  mentioning
• 14:32
  people
• 14:32
  raiding
• 14:33
  their
• 14:33
  401
• 14:33
  plans
• 14:34
  for
• 14:34
  emergencies.
• 14:35
  That's
• 14:35
  what
• 14:35
  we're
• 14:35
  going
• 14:36
  to
• 14:36
  talk
• 14:36
  about
• 14:36
  here
• 14:36
  in
• 14:36
  a
• 14:36
  second.
• 14:37
  He
• 14:37
  continues,
• 14:38
  I
• 14:39
  know
• 14:39
  I'll
• 14:39
  have
• 14:39
  emergencies.
• 14:40
  My
• 14:41
  car
• 14:41
  broke
• 14:41
  down
• 14:41
  last
• 14:42
  year
• 14:42
  and
• 14:42
  I
• 14:42
  had
• 14:42
  to
• 14:42
  put
• 14:42
  it
• 14:42
  on
• 14:43
  a
• 14:43
  credit
• 14:43
  card
• 14:43
  because
• 14:43
  I
• 14:44
  had
• 14:44
  no
• 14:44
  cash.
• 14:45
  If
• 14:45
  I
• 14:45
  had
• 14:45
  a
• 14:46
  401
• 14:46
  with
• 14:46
  money
• 14:47
  I
• 14:47
  could
• 14:47
  access,
• 14:48
  I
• 14:49
  probably
• 14:49
  would
• 14:49
  have
• 14:49
  taken
• 14:50
  it
• 14:50
  out.
• 14:51
  So
• 14:51
  my
• 14:51
  real
• 14:52
  question
• 14:52
  is
• 14:52
  this.
• 14:53
  Are
• 14:53
  401ks
• 14:54
  actually
• 14:54
  saving
• 14:55
  people
• 14:55
  for
• 14:55
  retirement
• 14:56
  or
• 14:57
  are
• 14:57
  they
• 14:57
  just
• 14:57
  delaying
• 14:58
  the
• 14:58
  financial
• 14:58
  crisis
• 14:59
  until
• 14:59
  we're
• 15:00
  older?
• 15:01
  Because
• 15:01
  for
• 15:01
  people
• 15:01
  making
• 15:02
  $50,000
• 15:03
  a
• 15:03
  year,
• 15:03
  it
• 15:04
  feels
• 15:04
  like
• 15:04
  we're
• 15:04
  being
• 15:04
  told
• 15:05
  to
• 15:05
  save
• 15:05
  money
• 15:06
  we
• 15:06
  don't
• 15:06
  have
• 15:07
  for
• 15:07
  the
• 15:07
  future
• 15:07
  we
• 15:08
  can't
• 15:08
  afford.
• 15:09
  And
• 15:09
  that
• 15:09
  was
• 15:09
  signed
• 15:09
  by
• 15:10
  David.
• 15:10
  David,
• 15:11
  thank
• 15:11
  you
• 15:11
  so
• 15:12
  much
• 15:12
  for
• 15:12
  sharing
• 15:12
  that.
• 15:13
  It
• 15:13
  was
• 15:13
  really.
• 15:14
  Yeah,
• 15:14
  I
• 15:14
  really
• 15:14
  appreciate
• 15:15
  you
• 15:15
  sharing
• 15:15
  that
• 15:16
  because
• 15:16
  you've
• 15:16
  really
• 15:16
  been
• 15:17
  honest
• 15:17
  about
• 15:17
  a
• 15:17
  lot
• 15:18
  of
• 15:18
  things.
• 15:18
  And
• 15:19
  the
• 15:19
  thing
• 15:19
  I'm
• 15:19
  going
• 15:19
  to
• 15:19
  say,
• 15:19
  David,
• 15:20
  is
• 15:20
  you've
• 15:20
  been
• 15:20
  doing
• 15:21
  the
• 15:21
  right
• 15:21
  thing
• 15:21
  for
• 15:22
  two
• 15:22
  decades
• 15:23
  and
• 15:23
  now
• 15:24
  you're
• 15:24
  questioning
• 15:25
  was
• 15:25
  it
• 15:25
  the
• 15:25
  right
• 15:26
  thing
• 15:26
  to
• 15:26
  do.
• 15:27
  And
• 15:27
  one
• 15:27
  of
• 15:27
  the
• 15:27
  big
• 15:27
  things
• 15:28
  that
• 15:28
  jumps
• 15:28
  out
• 15:28
  at
• 15:28
  me,
• 15:28
  you
• 15:28
  had
• 15:29
  to
• 15:29
  mention
• 15:29
  this,
• 15:29
  but
• 15:29
  you
• 15:29
  talked
• 15:30
  about
• 15:30
  it.
• 15:30
  I
• 15:30
  feel
• 15:30
  like
• 15:31
  you've
• 15:31
  got
• 15:31
  money
• 15:31
  in
• 15:32
  retirement,
• 15:32
  but
• 15:33
  you
• 15:33
  don't
• 15:33
  really
• 15:33
  have
• 15:34
  any
• 15:34
  money
• 15:34
  outside
• 15:35
  of
• 15:35
  retirement,
• 15:36
  which
• 15:36
  I
• 15:36
  would
• 15:36
  call
• 15:36
  your
• 15:37
  safety
• 15:37
  net.
• 15:37
  We
• 15:37
  talk
• 15:37
  about
• 15:38
  on
• 15:38
  the
• 15:38
  show
• 15:38
  all
• 15:38
  the
• 15:38
  time.
• 15:38
  An
• 15:39
  Emergency
• 15:40
  plan
• 15:40
  or
• 15:40
  emergency
• 15:41
  fund.
• 15:42
  You
• 15:42
  got
• 15:42
  to
• 15:42
  think
• 15:43
  about
• 15:43
  that.
• 15:44
  Because
• 15:44
  that
• 15:44
  can
• 15:44
  suddenly
• 15:45
  feel
• 15:45
  dangerous.
• 15:45
  If
• 15:46
  all
• 15:46
  of
• 15:46
  your
• 15:46
  money
• 15:46
  is
• 15:47
  stacked
• 15:47
  away
• 15:47
  in
• 15:47
  the
• 15:47
  retirement
• 15:48
  plan,
• 15:48
  it's
• 15:48
  great
• 15:49
  from
• 15:49
  a
• 15:49
  tax
• 15:49
  perspective.
• 15:50
  But
• 15:50
  if
• 15:51
  you
• 15:51
  have
• 15:51
  a
• 15:51
  car
• 15:51
  breakdown
• 15:52
  or
• 15:52
  a
• 15:53
  repair
• 15:53
  to
• 15:53
  your
• 15:53
  home
• 15:54
  or
• 15:54
  an
• 15:54
  unexpected
• 15:55
  medical
• 15:56
  expense,
• 15:57
  all
• 15:57
  those
• 15:57
  things
• 15:58
  are,
• 15:58
  you
• 15:58
  don't
• 15:59
  want
• 15:59
  to
• 15:59
  go
• 15:59
  raid
• 15:59
  your
• 15:59
  401k.
• 16:00
  And
• 16:00
  you're
• 16:00
  right.
• 16:01
  I
• 16:01
  see
• 16:01
  a
• 16:01
  lot
• 16:01
  of
• 16:01
  people
• 16:02
  doing
• 16:02
  that.
• 16:02
  People
• 16:03
  come
• 16:03
  in
• 16:03
  to
• 16:03
  visit
• 16:03
  me
• 16:04
  for
• 16:04
  tax
• 16:04
  work,
• 16:04
  and
• 16:04
  I
• 16:04
  see
• 16:05
  they're
• 16:05
  making
• 16:05
  distributions
• 16:06
  from
• 16:06
  their
• 16:06
  retirement
• 16:07
  plans.
• 16:08
  And
• 16:08
  it's
• 16:08
  a
• 16:08
  huge
• 16:09
  tax
• 16:09
  hit
• 16:09
  when
• 16:10
  you
• 16:10
  do
• 16:10
  that.
• 16:10
  But
• 16:11
  really
• 16:11
  what
• 16:11
  you're
• 16:11
  feeling
• 16:12
  is
• 16:12
  you've
• 16:12
  been
• 16:12
  following
• 16:13
  all
• 16:13
  the
• 16:13
  right
• 16:13
  things,
• 16:14
  but
• 16:14
  you're
• 16:14
  like,
• 16:14
  wait
• 16:15
  a
• 16:15
  minute,
• 16:15
  Ralph,
• 16:15
  I
• 16:15
  think
• 16:15
  I
• 16:15
  might
• 16:16
  be
• 16:16
  missing
• 16:16
  something.
• 16:17
  So
• 16:17
  the
• 16:17
  first
• 16:17
  thing
• 16:18
  I
• 16:18
  want
• 16:18
  to
• 16:18
  say
• 16:18
  is,
• 16:19
  consistent
• 16:19
  contributions
• 16:20
  is
• 16:20
  not
• 16:21
  a
• 16:21
  mistake
• 16:21
  that
• 16:21
  matters.
• 16:22
  You
• 16:23
  are
• 16:23
  doing
• 16:24
  that
• 16:24
  the
• 16:24
  right
• 16:24
  way.
• 16:25
  Here's
• 16:25
  the
• 16:25
  problem.
• 16:25
  Most
• 16:26
  people
• 16:26
  don't
• 16:26
  even
• 16:26
  do
• 16:27
  that.
• 16:28
  But
• 16:28
  you
• 16:28
  can't
• 16:29
  use
• 16:29
  your
• 16:29
  401k
• 16:30
  like
• 16:30
  an
• 16:30
  emergency
• 16:31
  fund.
• 16:31
  It
• 16:32
  was
• 16:32
  never
• 16:32
  designed
• 16:32
  to
• 16:32
  be.
• 16:33
  And
• 16:33
  unfortunately,
• 16:34
  I
• 16:34
  see
• 16:34
  so
• 16:34
  many
• 16:35
  people
• 16:35
  doing
• 16:35
  that
• 16:35
  with
• 16:36
  their
• 16:36
  retirement
• 16:36
  funds.
• 16:37
  Here's
• 16:37
  the
• 16:37
  thing
• 16:38
  I
• 16:38
  want
• 16:38
  to
• 16:38
  talk
• 16:38
  to
• 16:38
  you
• 16:38
  about
• 16:38
  a
• 16:38
  tax
• 16:39
  perspective.
• 16:40
  Early
• 16:40
  withdrawals.
• 16:41
  If
• 16:41
  you
• 16:41
  take
• 16:41
  money
• 16:41
  from
• 16:42
  your
• 16:42
  401k
• 16:43
  before
• 16:44
  you're
• 16:44
  59
• 16:45
  and
• 16:45
  a
• 16:45
  half,
• 16:45
  here's
• 16:46
  the
• 16:46
  problem.
• 16:46
  You
• 16:46
  get
• 16:47
  hit
• 16:47
  with
• 16:47
  a
• 16:47
  10%
• 16:48
  penalty
• 16:48
  right
• 16:48
  off
• 16:48
  the
• 16:48
  top.
• 16:50
  Add
• 16:50
  to
• 16:50
  that
• 16:50
  federal
• 16:51
  and
• 16:51
  state
• 16:51
  income
• 16:52
  tax.
• 16:53
  And
• 16:53
  this
• 16:53
  is
• 16:53
  no
• 16:53
  joke,
• 16:54
  when
• 16:54
  clients
• 16:54
  call
• 16:54
  me,
• 16:54
  they
• 16:55
  pick
• 16:55
  up
• 16:55
  the
• 16:55
  phone
• 16:55
  and
• 16:55
  say,
• 16:55
  ralph,
• 16:56
  I'm
• 16:56
  thinking
• 16:56
  about
• 16:56
  taking
• 16:56
  money
• 16:57
  out
• 16:57
  of
• 16:57
  my
• 16:57
  retirement.
• 16:58
  What
• 16:58
  do
• 16:58
  I
• 16:59
  do?
• 16:59
  I
• 16:59
  said,
• 16:59
  well,
• 16:59
  here's
• 16:59
  the
• 16:59
  thing.
• 16:59
  You
• 17:00
  need
• 17:00
  to
• 17:00
  understand,
• 17:01
  it's
• 17:01
  going
• 17:01
  to
• 17:02
  cost
• 17:02
  you
• 17:02
  almost
• 17:03
  40%
• 17:04
  in
• 17:04
  tax
• 17:06
  right
• 17:06
  from
• 17:06
  the
• 17:06
  beginning.
• 17:07
  And
• 17:07
  then,
• 17:08
  of
• 17:08
  course,
• 17:08
  the
• 17:08
  other
• 17:08
  thing,
• 17:08
  they'll
• 17:09
  say
• 17:09
  to
• 17:09
  me
• 17:09
  as
• 17:09
  well,
• 17:09
  at
• 17:10
  work,
• 17:10
  we
• 17:10
  have
• 17:10
  this
• 17:11
  option.
• 17:11
  We
• 17:11
  can
• 17:11
  take
• 17:12
  a
• 17:12
  loan
• 17:12
  from
• 17:12
  our
• 17:12
  401k,
• 17:14
  but
• 17:14
  you
• 17:14
  got
• 17:14
  to
• 17:14
  be
• 17:14
  careful
• 17:15
  with
• 17:15
  that,
• 17:15
  too.
• 17:15
  Because
• 17:16
  if
• 17:16
  you
• 17:16
  take
• 17:16
  a
• 17:16
  loan
• 17:17
  from
• 17:17
  your
• 17:17
  401,
• 17:18
  number
• 17:18
  one,
• 17:18
  you
• 17:18
  got
• 17:18
  to
• 17:18
  pay
• 17:19
  it
• 17:19
  back,
• 17:19
  which
• 17:19
  is
• 17:19
  better
• 17:19
  than
• 17:20
  taking
• 17:20
  the
• 17:20
  money
• 17:20
  out.
• 17:21
  But
• 17:21
  here's
• 17:21
  the
• 17:21
  problem.
• 17:22
  If
• 17:22
  your
• 17:23
  employer
• 17:23
  lets
• 17:24
  you
• 17:24
  go,
• 17:24
  if
• 17:25
  you
• 17:25
  decide
• 17:25
  to
• 17:25
  leave
• 17:26
  your
• 17:26
  employee,
• 17:26
  if
• 17:26
  the
• 17:26
  business
• 17:27
  closes
• 17:27
  down,
• 17:28
  you've
• 17:28
  got
• 17:29
  60
• 17:29
  days
• 17:30
  to
• 17:30
  pay
• 17:30
  back
• 17:31
  that
• 17:31
  loan,
• 17:31
  or
• 17:32
  that
• 17:32
  becomes
• 17:32
  effectively
• 17:33
  a
• 17:33
  distribution.
• 17:35
  And
• 17:35
  that's
• 17:35
  real
• 17:36
  money
• 17:36
  gone.
• 17:37
  So
• 17:38
  if
• 17:38
  you
• 17:38
  think
• 17:38
  about
• 17:38
  it,
• 17:39
  if
• 17:39
  you
• 17:39
  get
• 17:39
  hit
• 17:39
  with
• 17:39
  a
• 17:40
  40%
• 17:40
  tax
• 17:41
  right
• 17:41
  off
• 17:41
  the
• 17:41
  top,
• 17:42
  I
• 17:42
  call
• 17:42
  it
• 17:42
  the
• 17:42
  haircut,
• 17:43
  you've
• 17:44
  tossed
• 17:44
  40%
• 17:45
  of
• 17:45
  your
• 17:46
  money.
• 17:47
  But
• 17:47
  so
• 17:47
  you
• 17:47
  got
• 17:48
  to
• 17:48
  think
• 17:48
  about
• 17:48
  building
• 17:48
  this
• 17:48
  firewall,
• 17:49
  and
• 17:50
  that's
• 17:50
  the
• 17:50
  Thing,
• 17:50
  David,
• 17:50
  that
• 17:50
  I
• 17:51
  think
• 17:51
  I
• 17:51
  didn't
• 17:51
  hear
• 17:51
  you
• 17:52
  mentioning
• 17:52
  in
• 17:52
  your
• 17:52
  email,
• 17:53
  and
• 17:53
  I
• 17:53
  think
• 17:53
  I
• 17:54
  want
• 17:54
  to
• 17:54
  lean
• 17:54
  into
• 17:54
  for
• 17:54
  a
• 17:54
  second.
• 17:55
  You've
• 17:56
  got
• 17:56
  to
• 17:56
  build
• 17:56
  up
• 17:57
  an
• 17:57
  emergency
• 17:57
  fund
• 17:58
  so
• 17:58
  you
• 17:58
  have
• 17:58
  the
• 17:59
  ability
• 17:59
  to
• 17:59
  handle
• 18:00
  the.
• 18:00
  That
• 18:00
  car
• 18:01
  repair
• 18:02
  or
• 18:02
  that
• 18:02
  emergency
• 18:03
  medical
• 18:03
  expense
• 18:04
  that
• 18:04
  you
• 18:04
  weren't
• 18:04
  expecting.
• 18:05
  And
• 18:06
  it
• 18:06
  doesn't
• 18:06
  have
• 18:06
  to
• 18:06
  be.
• 18:06
  A
• 18:07
  lot
• 18:07
  of
• 18:07
  people
• 18:07
  get
• 18:07
  stuck
• 18:07
  on
• 18:08
  this.
• 18:08
  Well,
• 18:08
  it's
• 18:08
  got
• 18:08
  to
• 18:08
  be
• 18:08
  three
• 18:09
  to
• 18:09
  six
• 18:09
  months
• 18:09
  of
• 18:09
  income.
• 18:10
  Yes.
• 18:10
  In
• 18:10
  a
• 18:10
  perfect
• 18:11
  world,
• 18:11
  that
• 18:11
  would
• 18:12
  be
• 18:12
  great.
• 18:12
  I
• 18:12
  would
• 18:12
  love
• 18:13
  for
• 18:13
  you
• 18:13
  to
• 18:13
  get
• 18:13
  that.
• 18:14
  But
• 18:14
  you
• 18:14
  can
• 18:15
  start
• 18:15
  with
• 18:15
  $500.
• 18:16
  You
• 18:17
  can
• 18:17
  start
• 18:17
  funding
• 18:17
  $25
• 18:18
  a
• 18:19
  week.
• 18:19
  Once
• 18:20
  you
• 18:20
  get
• 18:20
  up
• 18:20
  to
• 18:20
  $500,
• 18:21
  then
• 18:21
  say,
• 18:21
  you
• 18:21
  know
• 18:22
  what,
• 18:22
  let
• 18:22
  me
• 18:22
  take
• 18:22
  it
• 18:22
  to
• 18:22
  the
• 18:22
  next
• 18:22
  level.
• 18:23
  Maybe
• 18:23
  I
• 18:23
  do.
• 18:23
  1,000.
• 18:24
  Yes,
• 18:25
  keep
• 18:25
  contributing
• 18:26
  to
• 18:26
  your
• 18:26
  retirement
• 18:26
  account,
• 18:27
  but
• 18:27
  you
• 18:28
  might
• 18:28
  need
• 18:28
  to
• 18:29
  also
• 18:29
  put
• 18:29
  money
• 18:30
  into
• 18:30
  that
• 18:31
  emergency
• 18:32
  fund.
• 18:33
  You
• 18:33
  can't
• 18:33
  treat
• 18:33
  your
• 18:34
  retirement
• 18:34
  as
• 18:34
  your
• 18:35
  only
• 18:35
  financial
• 18:35
  resource.
• 18:36
  And
• 18:36
  unfortunately,
• 18:37
  a
• 18:38
  lot
• 18:38
  of
• 18:38
  people
• 18:38
  do
• 18:38
  that.
• 18:39
  I
• 18:39
  see
• 18:39
  a
• 18:39
  lot
• 18:39
  of
• 18:40
  younger
• 18:40
  people
• 18:40
  that
• 18:40
  do
• 18:40
  that.
• 18:41
  They're
• 18:41
  like,
• 18:41
  oh,
• 18:41
  Ralph,
• 18:42
  I'm
• 18:42
  putting
• 18:42
  15%
• 18:43
  into
• 18:43
  my
• 18:43
  retirement
• 18:44
  account.
• 18:44
  And
• 18:44
  I
• 18:45
  say,
• 18:45
  that
• 18:45
  is
• 18:45
  fantastic.
• 18:46
  You
• 18:46
  will
• 18:46
  gain
• 18:47
  benefits
• 18:47
  from
• 18:47
  that
• 18:47
  the
• 18:48
  rest
• 18:48
  of
• 18:48
  your
• 18:48
  life.
• 18:48
  But
• 18:48
  what
• 18:49
  are
• 18:49
  you
• 18:49
  doing
• 18:50
  on
• 18:50
  the
• 18:50
  side?
• 18:51
  What
• 18:51
  emergency
• 18:52
  funds
• 18:52
  are
• 18:52
  you
• 18:52
  setting
• 18:53
  up?
• 18:54
  Here's
• 18:54
  a
• 18:54
  scripture
• 18:54
  reading
• 18:55
  we
• 18:55
  found
• 18:55
  for
• 18:55
  this
• 18:55
  one.
• 18:55
  And
• 18:55
  I
• 18:55
  use
• 18:56
  this
• 18:56
  one
• 18:56
  on
• 18:56
  the
• 18:56
  show
• 18:56
  all
• 18:56
  the
• 18:57
  time.
• 18:57
  It's
• 18:57
  Proverbs
• 18:57
  22.
• 18:58
  3.
• 18:58
  It
• 18:58
  says
• 18:58
  the
• 18:59
  prudence
• 18:59
  see
• 18:59
  danger
• 19:00
  and
• 19:00
  take
• 19:00
  refuge.
• 19:01
  But
• 19:01
  the
• 19:02
  simple
• 19:02
  keep
• 19:02
  going
• 19:02
  and
• 19:03
  pay
• 19:03
  the
• 19:03
  penalty,
• 19:04
  which
• 19:04
  is
• 19:04
  really
• 19:05
  all
• 19:05
  about
• 19:05
  seeing
• 19:06
  the
• 19:06
  danger
• 19:06
  before
• 19:07
  it
• 19:07
  hits,
• 19:07
  is
• 19:07
  wisdom.
• 19:09
  And,
• 19:10
  David,
• 19:10
  you're
• 19:10
  seeing
• 19:11
  that
• 19:12
  and
• 19:12
  that's
• 19:12
  why
• 19:12
  you're
• 19:13
  asking
• 19:13
  that.
• 19:14
  So
• 19:14
  here's
• 19:14
  a
• 19:14
  question
• 19:15
  for
• 19:15
  the
• 19:15
  chat
• 19:15
  room.
• 19:16
  How
• 19:16
  do
• 19:16
  you
• 19:16
  balance
• 19:17
  building
• 19:17
  retirement
• 19:18
  savings
• 19:18
  while
• 19:18
  keeping
• 19:18
  cash
• 19:19
  on
• 19:19
  hand
• 19:19
  for
• 19:20
  emergencies?
• 19:21
  And.
• 19:21
  And
• 19:21
  what's
• 19:22
  working
• 19:22
  for
• 19:22
  you
• 19:22
  right
• 19:23
  now?
• 19:23
  So
• 19:24
  that's
• 19:24
  the
• 19:24
  question
• 19:24
  is
• 19:25
  how
• 19:25
  do
• 19:25
  you
• 19:25
  balance
• 19:25
  building
• 19:26
  retirement
• 19:26
  savings
• 19:27
  but
• 19:27
  keeping
• 19:27
  cash
• 19:27
  on
• 19:28
  hand
• 19:28
  for
• 19:28
  emergencies?
• 19:29
  And
• 19:29
  what's
• 19:30
  working
• 19:30
  for
• 19:30
  you
• 19:30
  right
• 19:31
  now?
• 19:31
  Now
• 19:31
  you
• 19:31
  might
• 19:31
  be
• 19:32
  saying,
• 19:32
  ralph,
• 19:32
  man,
• 19:33
  I
• 19:33
  don't
• 19:33
  have
• 19:33
  any
• 19:33
  extra
• 19:34
  money
• 19:34
  to
• 19:34
  put
• 19:34
  into
• 19:34
  retirement
• 19:35
  right
• 19:35
  now.
• 19:35
  So
• 19:35
  what's
• 19:35
  working
• 19:36
  for
• 19:36
  me
• 19:36
  is
• 19:37
  covering
• 19:37
  the
• 19:37
  groceries
• 19:38
  and
• 19:38
  the
• 19:38
  fuel
• 19:38
  prices.
• 19:39
  But
• 19:39
  if
• 19:39
  you're
• 19:39
  able
• 19:40
  to
• 19:40
  do
• 19:40
  that,
• 19:41
  how
• 19:41
  do
• 19:41
  you
• 19:41
  find
• 19:42
  that
• 19:42
  balance?
• 19:42
  Because
• 19:43
  that's
• 19:43
  not
• 19:43
  easy.
• 19:43
  I
• 19:44
  totally
• 19:44
  get.
• 19:47
  I
• 19:47
  will
• 19:47
  just
• 19:48
  let
• 19:48
  everybody
• 19:48
  comment
• 19:49
  on
• 19:49
  that
• 19:49
  and
• 19:49
  we'll
• 19:49
  circle
• 19:50
  back
• 19:50
  to
• 19:50
  those
• 19:50
  comments
• 19:50
  in
• 19:51
  a
• 19:51
  second.
• 19:51
  But
• 19:51
  we
• 19:51
  actually
• 19:52
  found
• 19:52
  an
• 19:53
  article
• 19:53
  about
• 19:53
  this,
• 19:54
  and
• 19:55
  this
• 19:55
  is
• 19:55
  more
• 19:55
  of
• 19:55
  an
• 19:56
  article
• 19:56
  about
• 19:56
  statistics.
• 19:57
  When
• 19:57
  Dave
• 19:58
  was
• 19:58
  talking
• 19:58
  about
• 19:58
  the
• 19:59
  millionaires
• 19:59
  of
• 19:59
  Fidelity
• 20:00
  talked
• 20:00
  about,
• 20:00
  I
• 20:00
  said,
• 20:00
  that's
• 20:01
  really
• 20:01
  interesting.
• 20:02
  So
• 20:02
  we
• 20:02
  found
• 20:02
  this
• 20:03
  on
• 20:03
  Investopedia
• 20:04
  and
• 20:04
  it
• 20:05
  says,
• 20:05
  how
• 20:05
  much
• 20:05
  do
• 20:05
  people
• 20:06
  rely
• 20:06
  on
• 20:06
  401
• 20:07
  s
• 20:07
  in
• 20:07
  retirement?
• 20:09
  And
• 20:09
  it's
• 20:10
  something
• 20:10
  that
• 20:10
  I've
• 20:10
  really
• 20:10
  been
• 20:11
  thinking
• 20:11
  about
• 20:11
  because
• 20:12
  he
• 20:12
  said
• 20:12
  there's
• 20:13
  record
• 20:13
  balances,
• 20:13
  there's
• 20:14
  665,000
• 20:15
  millionaires.
• 20:16
  But
• 20:17
  the
• 20:17
  story
• 20:17
  underneath
• 20:18
  of
• 20:18
  this
• 20:18
  is
• 20:18
  really
• 20:19
  different.
• 20:20
  The
• 20:20
  headline
• 20:21
  numbers
• 20:21
  only
• 20:21
  describe
• 20:22
  people
• 20:22
  who
• 20:22
  already
• 20:23
  had
• 20:23
  access
• 20:23
  and
• 20:24
  margin
• 20:24
  to
• 20:24
  save
• 20:24
  aggressively.
• 20:25
  Here's
• 20:26
  the
• 20:26
  problem.
• 20:26
  More
• 20:27
  than
• 20:27
  half
• 20:27
  of
• 20:28
  American
• 20:28
  workers.
• 20:28
  I'm
• 20:29
  going
• 20:29
  to
• 20:29
  repeat
• 20:29
  that
• 20:29
  because
• 20:29
  you
• 20:30
  need
• 20:30
  to
• 20:30
  hear
• 20:30
  this.
• 20:31
  More
• 20:31
  than
• 20:31
  half
• 20:32
  of
• 20:32
  American
• 20:33
  workers
• 20:34
  aren't
• 20:34
  in
• 20:34
  the
• 20:35
  conversation
• 20:35
  at
• 20:35
  all
• 20:36
  because
• 20:37
  they
• 20:37
  don't
• 20:37
  even
• 20:37
  have
• 20:37
  a
• 20:37
  401k
• 20:38
  plan.
• 20:39
  They
• 20:39
  don't
• 20:39
  have
• 20:39
  access
• 20:40
  to
• 20:40
  a
• 20:40
  retirement
• 20:41
  plan.
• 20:42
  And
• 20:42
  that
• 20:42
  gap
• 20:43
  between
• 20:43
  wealthy
• 20:44
  savers
• 20:44
  and
• 20:44
  everyone
• 20:44
  else
• 20:45
  is
• 20:45
  getting
• 20:45
  wider,
• 20:46
  not
• 20:46
  narrower.
• 20:47
  Here's
• 20:47
  some
• 20:48
  findings
• 20:48
  from
• 20:48
  the
• 20:48
  report.
• 20:49
  The
• 20:49
  median
• 20:50
  401k
• 20:51
  balance
• 20:51
  at
• 20:51
  fidelity
• 20:52
  ready
• 20:53
  for
• 20:53
  this.
• 20:53
  The
• 20:53
  median
• 20:54
  Middle
• 20:54
  point
• 20:55
  is
• 20:55
  $34,400,
• 20:58
  which
• 20:59
  means
• 20:59
  that
• 20:59
  half
• 20:59
  of
• 20:59
  the
• 21:00
  account
• 21:00
  holders
• 21:00
  have
• 21:01
  less
• 21:01
  than
• 21:01
  that.
• 21:02
  You
• 21:02
  want
• 21:02
  to
• 21:02
  get
• 21:02
  more
• 21:03
  scared,
• 21:03
  want
• 21:03
  to
• 21:03
  get
• 21:03
  more
• 21:04
  depressed.
• 21:04
  For
• 21:05
  people
• 21:05
  approaching
• 21:05
  retirement
• 21:06
  age
• 21:07
  ages
• 21:07
  55
• 21:08
  to
• 21:08
  64
• 21:09
  now
• 21:09
  the
• 21:09
  median
• 21:10
  increases.
• 21:10
  But
• 21:10
  here's
• 21:10
  the
• 21:11
  problem.
• 21:11
  The
• 21:11
  Median
• 21:12
  There
• 21:12
  is
• 21:12
  $185,000.
• 21:15
  But
• 21:16
  they're
• 21:16
  thinking
• 21:16
  their
• 21:16
  retirement
• 21:17
  can
• 21:17
  last
• 21:17
  30
• 21:17
  years.
• 21:18
  Well,
• 21:19
  do
• 21:19
  the
• 21:19
  math.
• 21:20
  If
• 21:20
  you
• 21:21
  only
• 21:21
  got
• 21:21
  $185,000
• 21:23
  at
• 21:23
  age
• 21:24
  64
• 21:25
  and
• 21:25
  you
• 21:25
  expect
• 21:26
  to
• 21:26
  live
• 21:26
  to
• 21:26
  be
• 21:26
  94
• 21:27
  now,
• 21:27
  I
• 21:27
  think
• 21:27
  that's
• 21:28
  great
• 21:28
  and
• 21:28
  wishful
• 21:28
  thinking.
• 21:29
  I
• 21:29
  hope
• 21:29
  I
• 21:29
  live
• 21:30
  to
• 21:30
  be
• 21:30
  that
• 21:30
  long
• 21:30
  as
• 21:30
  well.
• 21:31
  But
• 21:32
  you're
• 21:32
  going
• 21:32
  to
• 21:32
  run
• 21:32
  out
• 21:32
  of
• 21:32
  money
• 21:34
  if
• 21:34
  you
• 21:35
  just
• 21:35
  do
• 21:35
  a
• 21:35
  simple
• 21:35
  math
• 21:35
  equation.
• 21:36
  That's
• 21:36
  not
• 21:36
  enough.
• 21:38
  You
• 21:38
  might
• 21:38
  say,
• 21:38
  well
• 21:38
  Ralph,
• 21:38
  I'm
• 21:39
  going
• 21:39
  to
• 21:39
  rely
• 21:39
  on
• 21:39
  Social
• 21:39
  Security.
• 21:39
  Good
• 21:40
  luck
• 21:40
  with
• 21:40
  that.
• 21:41
  What's
• 21:42
  your
• 21:42
  lifestyle
• 21:42
  change
• 21:42
  going
• 21:43
  to
• 21:43
  be?
• 21:44
  Here's
• 21:45
  another
• 21:45
  statistic
• 21:45
  from
• 21:46
  the
• 21:46
  study.
• 21:46
  More
• 21:47
  than
• 21:47
  half
• 21:47
  of
• 21:48
  private
• 21:48
  sector
• 21:48
  workers
• 21:49
  have
• 21:49
  no
• 21:49
  access
• 21:50
  to
• 21:50
  any
• 21:50
  employer
• 21:51
  sponsored
• 21:51
  retirement
• 21:52
  plan.
• 21:52
  Now
• 21:52
  of
• 21:53
  course
• 21:53
  you
• 21:53
  might
• 21:53
  be
• 21:53
  saying,
• 21:53
  Ralph,
• 21:54
  but
• 21:54
  wait
• 21:54
  a
• 21:54
  second,
• 21:54
  they
• 21:55
  can
• 21:55
  go
• 21:55
  fund
• 21:55
  an
• 21:56
  ira,
• 21:56
  they
• 21:56
  can
• 21:56
  do
• 21:57
  something
• 21:57
  like
• 21:57
  that,
• 21:57
  sure.
• 21:58
  But
• 21:58
  how
• 21:58
  many
• 21:58
  people
• 21:58
  even
• 21:59
  understand
• 21:59
  that?
• 22:00
  And
• 22:00
  how
• 22:00
  many
• 22:00
  people
• 22:01
  have
• 22:01
  the
• 22:01
  diligence
• 22:02
  to
• 22:02
  set
• 22:02
  aside
• 22:02
  the
• 22:02
  money?
• 22:03
  See,
• 22:03
  that's
• 22:03
  where
• 22:04
  I
• 22:04
  think
• 22:04
  a
• 22:04
  401k.
• 22:06
  And
• 22:06
  when
• 22:06
  my
• 22:07
  grandparents
• 22:08
  were
• 22:08
  working,
• 22:09
  my
• 22:09
  grandfather
• 22:10
  worked
• 22:10
  at
• 22:10
  the
• 22:10
  dupont
• 22:10
  Company.
• 22:11
  Well,
• 22:11
  the
• 22:11
  dupont
• 22:12
  company
• 22:12
  had
• 22:12
  a
• 22:12
  pension.
• 22:13
  So
• 22:13
  my
• 22:13
  grandfather
• 22:14
  knew
• 22:14
  at
• 22:15
  some
• 22:15
  point
• 22:15
  he'd
• 22:16
  be
• 22:16
  able
• 22:16
  to
• 22:16
  retire
• 22:16
  and
• 22:16
  have
• 22:17
  a
• 22:17
  pension.
• 22:17
  Well,
• 22:17
  guess
• 22:17
  what?
• 22:18
  Most
• 22:18
  people
• 22:19
  don't
• 22:19
  have
• 22:19
  pensions
• 22:20
  anymore.
• 22:20
  I'm
• 22:21
  really
• 22:21
  worried
• 22:21
  about
• 22:22
  this
• 22:22
  because
• 22:22
  without
• 22:23
  a
• 22:23
  pension
• 22:24
  you
• 22:24
  are
• 22:24
  going
• 22:24
  to
• 22:25
  see
• 22:25
  poverty
• 22:26
  at
• 22:26
  a
• 22:26
  level
• 22:26
  that
• 22:27
  is
• 22:27
  going
• 22:27
  to
• 22:27
  be
• 22:28
  unsurpassed.
• 22:30
  Look
• 22:30
  at
• 22:30
  this
• 22:30
  one.
• 22:30
  59%
• 22:31
  of
• 22:31
  the
• 22:32
  annual
• 22:32
  tax
• 22:32
  benefit
• 22:33
  for
• 22:33
  401ks
• 22:34
  goes
• 22:35
  to
• 22:35
  the
• 22:35
  top
• 22:36
  20%
• 22:36
  of
• 22:36
  earners.
• 22:38
  So
• 22:38
  think
• 22:39
  about
• 22:39
  what
• 22:39
  I'm
• 22:39
  saying
• 22:39
  there
• 22:39
  and
• 22:40
  listen,
• 22:40
  401ks
• 22:41
  are
• 22:41
  great
• 22:42
  tax
• 22:42
  benefits.
• 22:42
  They
• 22:43
  are
• 22:43
  fantastic
• 22:44
  things
• 22:44
  to
• 22:44
  do.
• 22:44
  If
• 22:44
  you
• 22:45
  hear
• 22:45
  nothing
• 22:45
  else
• 22:45
  I
• 22:45
  say
• 22:46
  during
• 22:46
  this
• 22:46
  section,
• 22:47
  contribute
• 22:47
  to
• 22:47
  your
• 22:48
  401k.
• 22:48
  I
• 22:49
  think
• 22:49
  I
• 22:49
  talked
• 22:49
  about
• 22:49
  that
• 22:49
  on
• 22:50
  last
• 22:50
  week's
• 22:50
  live
• 22:50
  show.
• 22:51
  But
• 22:52
  20%
• 22:52
  of
• 22:52
  the
• 22:53
  benefit,
• 22:54
  59%
• 22:55
  of
• 22:55
  the
• 22:55
  benefit,
• 22:55
  excuse
• 22:55
  me,
• 22:56
  59%
• 22:56
  of
• 22:56
  the
• 22:57
  benefit,
• 22:57
  almost
• 22:57
  60%
• 22:59
  is
• 22:59
  going
• 22:59
  to
• 22:59
  the
• 22:59
  top
• 23:00
  20%
• 23:00
  of
• 23:01
  earners.
• 23:02
  The
• 23:02
  bottom
• 23:03
  20%,
• 23:04
  3.7%.
• 23:06
  What
• 23:06
  a
• 23:07
  huge
• 23:07
  gap
• 23:07
  there.
• 23:08
  And
• 23:08
  that
• 23:08
  shouldn't
• 23:09
  surprise
• 23:09
  anybody.
• 23:10
  This
• 23:10
  is
• 23:11
  the
• 23:11
  issue
• 23:11
  we
• 23:11
  have.
• 23:11
  We're
• 23:12
  getting
• 23:12
  to
• 23:12
  a
• 23:12
  point
• 23:12
  where
• 23:13
  the
• 23:13
  middle
• 23:13
  class
• 23:13
  is
• 23:13
  shrinking.
• 23:14
  We've
• 23:14
  got
• 23:15
  a
• 23:15
  wealthy
• 23:15
  class
• 23:16
  and
• 23:16
  a
• 23:16
  less
• 23:17
  than
• 23:17
  wealthy
• 23:17
  class.
• 23:17
  I'll
• 23:18
  use
• 23:18
  that
• 23:18
  term
• 23:18
  because
• 23:18
  I
• 23:18
  think
• 23:18
  that's
• 23:19
  the
• 23:19
  right
• 23:19
  thing
• 23:19
  to
• 23:19
  call
• 23:19
  it.
• 23:20
  But
• 23:20
  this
• 23:21
  just
• 23:21
  proves
• 23:21
  that
• 23:23
  now
• 23:23
  there
• 23:23
  are
• 23:23
  new
• 23:23
  rules
• 23:24
  that
• 23:24
  allow
• 23:24
  penalty
• 23:25
  free
• 23:25
  emergency
• 23:25
  withdrawals
• 23:26
  from
• 23:26
  your
• 23:27
  401k,
• 23:27
  which
• 23:28
  sounds
• 23:28
  great,
• 23:29
  but
• 23:29
  here's
• 23:30
  the
• 23:30
  problem.
• 23:31
  It's
• 23:31
  a
• 23:31
  penalty
• 23:32
  free.
• 23:32
  So
• 23:33
  yes,
• 23:33
  you're
• 23:33
  not
• 23:33
  going
• 23:33
  to
• 23:34
  pay
• 23:34
  the
• 23:34
  10%
• 23:34
  penalty,
• 23:35
  but
• 23:35
  you're
• 23:36
  still
• 23:36
  going
• 23:36
  to
• 23:36
  pay
• 23:36
  the
• 23:36
  tax.
• 23:37
  So
• 23:37
  take
• 23:37
  10%
• 23:37
  off,
• 23:38
  you're
• 23:38
  still
• 23:38
  losing
• 23:39
  30%.
• 23:41
  What
• 23:41
  you're
• 23:41
  doing
• 23:41
  is
• 23:42
  you're
• 23:42
  quietly
• 23:42
  eroding
• 23:43
  the
• 23:43
  whole
• 23:43
  point
• 23:44
  of
• 23:44
  saving
• 23:44
  for
• 23:44
  retirement.
• 23:46
  So
• 23:46
  as
• 23:46
  much
• 23:47
  as
• 23:47
  you
• 23:47
  think
• 23:47
  that
• 23:47
  401k
• 23:48
  is
• 23:48
  your
• 23:48
  go
• 23:49
  to
• 23:49
  thing
• 23:49
  to
• 23:49
  hit
• 23:49
  in
• 23:50
  an
• 23:50
  emergency,
• 23:50
  it's
• 23:51
  got
• 23:51
  to
• 23:51
  stop.
• 23:52
  You
• 23:53
  are
• 23:53
  going
• 23:53
  to
• 23:53
  leave
• 23:54
  yourself
• 23:54
  penniless
• 23:55
  in
• 23:55
  retirement
• 23:56
  if
• 23:56
  you
• 23:56
  don't
• 23:56
  do
• 23:56
  it.
• 23:56
  Now
• 23:56
  here's
• 23:57
  some
• 23:57
  quotes
• 23:57
  from
• 23:57
  the
• 23:57
  article.
• 23:58
  It
• 23:58
  says,
• 23:59
  and
• 23:59
  this
• 23:59
  one
• 23:59
  says
• 24:00
  the
• 24:00
  US
• 24:00
  Retirement
• 24:01
  system
• 24:01
  isn't
• 24:01
  working
• 24:02
  for
• 24:02
  most
• 24:02
  Americans.
• 24:03
  Despite
• 24:03
  reports
• 24:04
  of
• 24:04
  incremental
• 24:05
  gains,
• 24:05
  these
• 24:05
  plans
• 24:06
  aren't
• 24:06
  sufficiently
• 24:06
  moving
• 24:07
  the
• 24:07
  needle
• 24:07
  towards
• 24:07
  achieving
• 24:08
  a
• 24:08
  financially
• 24:09
  secure
• 24:09
  retirement
• 24:10
  for
• 24:10
  working
• 24:11
  families.
• 24:11
  And
• 24:12
  that's
• 24:12
  from
• 24:12
  an
• 24:12
  organization
• 24:13
  called
• 24:13
  the
• 24:13
  Pension
• 24:14
  Rights
• 24:14
  Center.
• 24:15
  Here's
• 24:15
  another
• 24:15
  quote
• 24:15
  from
• 24:16
  that.
• 24:16
  This
• 24:16
  is
• 24:16
  from
• 24:16
  Investment
• 24:16
  News.
• 24:17
  It
• 24:17
  says
• 24:17
  automatic
• 24:18
  enrollment
• 24:18
  has
• 24:19
  pulled
• 24:19
  more
• 24:19
  workers
• 24:19
  into
• 24:20
  plans.
• 24:21
  That's
• 24:21
  a
• 24:21
  good
• 24:21
  thing.
• 24:22
  But
• 24:22
  it's
• 24:23
  also
• 24:23
  given
• 24:23
  more
• 24:23
  people
• 24:24
  a
• 24:24
  pot
• 24:24
  of
• 24:24
  assets
• 24:25
  to
• 24:25
  raid
• 24:25
  when
• 24:25
  cash
• 24:26
  is
• 24:26
  tight.
• 24:27
  And
• 24:27
  like
• 24:27
  I
• 24:28
  said,
• 24:28
  I
• 24:28
  see
• 24:28
  this
• 24:28
  every
• 24:29
  tax
• 24:29
  season.
• 24:30
  People
• 24:30
  who
• 24:30
  go
• 24:31
  to
• 24:31
  their
• 24:31
  retirement
• 24:31
  plans
• 24:32
  and
• 24:32
  they
• 24:32
  pull
• 24:33
  that
• 24:33
  money
• 24:33
  out
• 24:34
  because
• 24:34
  that's
• 24:34
  the
• 24:34
  only
• 24:35
  assets
• 24:35
  they
• 24:35
  have.
• 24:36
  Maybe
• 24:37
  they've
• 24:37
  already
• 24:37
  refinanced
• 24:38
  their
• 24:38
  house.
• 24:38
  I'm
• 24:38
  assuming
• 24:39
  they
• 24:39
  own
• 24:39
  a
• 24:39
  house.
• 24:39
  If
• 24:40
  there's
• 24:40
  any
• 24:40
  equity
• 24:40
  in
• 24:41
  it,
• 24:41
  they've
• 24:41
  refinanced
• 24:42
  their
• 24:42
  house,
• 24:42
  sucked
• 24:42
  all
• 24:43
  those
• 24:43
  assets
• 24:43
  out.
• 24:44
  So
• 24:44
  now
• 24:44
  they're
• 24:44
  looking
• 24:44
  at
• 24:45
  this
• 24:45
  retirement
• 24:45
  statement.
• 24:46
  They
• 24:46
  get
• 24:46
  once
• 24:46
  a
• 24:46
  month
• 24:46
  or
• 24:47
  once
• 24:47
  a
• 24:47
  quarter,
• 24:47
  and
• 24:47
  saying,
• 24:47
  well,
• 24:47
  there
• 24:48
  is
• 24:48
  money
• 24:48
  I
• 24:48
  can
• 24:48
  use,
• 24:49
  and
• 24:49
  I'm
• 24:50
  not
• 24:50
  judging
• 24:50
  them.
• 24:51
  But
• 24:52
  it's
• 24:52
  not
• 24:52
  the
• 24:52
  right
• 24:53
  place.
• 24:53
  It's
• 24:53
  not
• 24:53
  the
• 24:53
  right
• 24:54
  thing.
• 24:54
  You're
• 24:54
  supposed
• 24:54
  to
• 24:54
  be
• 24:54
  doing
• 24:54
  it.
• 24:55
  Here's
• 24:55
  another
• 24:55
  one
• 24:55
  from
• 24:56
  Vanguard.
• 24:56
  It
• 24:56
  says
• 24:56
  roughly
• 24:57
  What
• 24:57
  a
• 24:57
  hypothetical
• 24:58
  $10,000
• 24:59
  investment
• 25:00
  in
• 25:00
  1976
• 25:01
  in
• 25:02
  the
• 25:02
  Vanguard
• 25:02
  500
• 25:03
  index
• 25:03
  fund
• 25:04
  could
• 25:04
  have
• 25:04
  grown
• 25:04
  to
• 25:05
  by
• 25:05
  March
• 25:05
  31st
• 25:06
  of
• 25:06
  2026
• 25:07
  this
• 25:07
  year,
• 25:08
  $2
• 25:09
  million.
• 25:11
  So
• 25:12
  here's
• 25:12
  the
• 25:12
  thing.
• 25:12
  I
• 25:12
  want
• 25:12
  to
• 25:12
  leave
• 25:12
  with
• 25:13
  this
• 25:13
  as
• 25:14
  we
• 25:14
  finish
• 25:14
  up
• 25:14
  this
• 25:15
  second
• 25:15
  question.
• 25:16
  The
• 25:17
  numbers
• 25:17
  you
• 25:17
  share,
• 25:17
  David
• 25:18
  from
• 25:18
  Vanguard,
• 25:18
  are
• 25:19
  real.
• 25:20
  And
• 25:21
  the
• 25:21
  math
• 25:21
  works
• 25:22
  when
• 25:22
  you
• 25:23
  have
• 25:23
  time
• 25:23
  and
• 25:23
  you
• 25:23
  don't
• 25:24
  touch
• 25:24
  it.
• 25:24
  See,
• 25:24
  that's
• 25:24
  the
• 25:24
  key
• 25:25
  to
• 25:25
  these
• 25:25
  retirement
• 25:25
  plans.
• 25:27
  The
• 25:27
  math,
• 25:27
  the
• 25:27
  compounding
• 25:28
  interest,
• 25:28
  the
• 25:29
  compounding
• 25:29
  value
• 25:30
  of
• 25:30
  money
• 25:30
  will
• 25:30
  work.
• 25:31
  But
• 25:32
  you
• 25:32
  got
• 25:32
  to
• 25:32
  leave
• 25:32
  it
• 25:32
  in
• 25:32
  there.
• 25:33
  You
• 25:33
  can't
• 25:33
  be
• 25:33
  taking
• 25:33
  the
• 25:33
  money
• 25:34
  out.
• 25:34
  You
• 25:34
  can't
• 25:34
  be
• 25:34
  borrowing
• 25:35
  against
• 25:35
  it.
• 25:35
  You
• 25:35
  can't
• 25:35
  be
• 25:35
  taking
• 25:36
  distributions
• 25:36
  from
• 25:37
  it.
• 25:39
  The
• 25:39
  problem
• 25:39
  is
• 25:40
  most
• 25:40
  people
• 25:40
  do
• 25:41
  touch
• 25:41
  it
• 25:42
  because
• 25:42
  life
• 25:43
  happens.
• 25:43
  We
• 25:43
  started
• 25:44
  off
• 25:44
  today
• 25:44
  talking
• 25:44
  about
• 25:45
  groceries
• 25:45
  and
• 25:45
  the
• 25:45
  cost
• 25:46
  of
• 25:46
  living
• 25:46
  going
• 25:46
  up
• 25:48
  so
• 25:48
  you
• 25:48
  can
• 25:48
  have
• 25:49
  a
• 25:49
  solid
• 25:49
  plan,
• 25:51
  but
• 25:51
  the
• 25:51
  execution
• 25:52
  is
• 25:52
  where
• 25:52
  it's
• 25:52
  breaking
• 25:53
  down.
• 25:54
  And
• 25:54
  that's
• 25:54
  the
• 25:54
  part
• 25:55
  we
• 25:55
  don't
• 25:55
  talk
• 25:55
  about
• 25:55
  enough.
• 25:56
  We
• 25:56
  talk
• 25:56
  about
• 25:56
  how
• 25:57
  great
• 25:57
  it
• 25:57
  is
• 25:57
  to
• 25:57
  have
• 25:57
  retirement
• 25:58
  plans
• 25:58
  and
• 25:58
  how
• 25:59
  great
• 25:59
  it
• 25:59
  is
• 25:59
  to
• 25:59
  be
• 25:59
  putting
• 26:00
  money
• 26:00
  aside.
• 26:00
  And
• 26:00
  I'm
• 26:01
  hitting
• 26:01
  the
• 26:01
  10%.
• 26:02
  I'm
• 26:02
  getting
• 26:02
  my
• 26:02
  employer
• 26:03
  match.
• 26:04
  But
• 26:04
  if
• 26:04
  you're
• 26:05
  going
• 26:05
  behind
• 26:05
  it
• 26:06
  and
• 26:06
  taking
• 26:06
  the
• 26:06
  money
• 26:06
  out,
• 26:07
  taking
• 26:07
  distributions
• 26:08
  from
• 26:08
  it,
• 26:09
  you're
• 26:09
  not
• 26:10
  helping
• 26:10
  yourself.
• 26:12
  And
• 26:12
  that
• 26:12
  worries
• 26:13
  me.
• 26:14
  Here's
• 26:14
  our
• 26:14
  scripture
• 26:15
  reference
• 26:15
  for
• 26:15
  this
• 26:15
  part.
• 26:15
  It's
• 26:16
  from
• 26:16
  Proverbs
• 26:16
  13:11.
• 26:17
  It
• 26:17
  says,
• 26:17
  Whoever
• 26:18
  gathers
• 26:18
  money
• 26:18
  little
• 26:18
  by
• 26:19
  little
• 26:19
  makes
• 26:19
  it
• 26:19
  grow.
• 26:21
  And
• 26:21
  that's
• 26:21
  the
• 26:21
  thing
• 26:21
  to
• 26:22
  take
• 26:22
  away
• 26:22
  from
• 26:22
  this
• 26:22
  particular
• 26:23
  question.
• 26:24
  You
• 26:24
  got
• 26:24
  to
• 26:24
  think
• 26:25
  in
• 26:25
  terms
• 26:25
  of
• 26:25
  retirement
• 26:26
  being
• 26:27
  a
• 26:27
  gathering
• 26:27
  a
• 26:28
  little
• 26:28
  bit
• 26:28
  by
• 26:28
  little,
• 26:28
  bit
• 26:29
  by
• 26:29
  a
• 26:29
  little
• 26:29
  bit,
• 26:30
  and
• 26:30
  then
• 26:31
  letting
• 26:31
  it
• 26:31
  grow,
• 26:32
  set
• 26:32
  it,
• 26:33
  and
• 26:33
  forget
• 26:33
  it.
• 26:33
  I've
• 26:33
  done
• 26:34
  statistics
• 26:34
  before
• 26:35
  where
• 26:35
  if
• 26:35
  you
• 26:35
  start
• 26:35
  a
• 26:35
  401k
• 26:36
  at
• 26:37
  a
• 26:37
  very
• 26:37
  young
• 26:37
  age,
• 26:37
  like
• 26:38
  25
• 26:38
  now,
• 26:39
  I'm
• 26:39
  going
• 26:39
  to
• 26:39
  be
• 26:39
  very
• 26:39
  transparent.
• 26:40
  This
• 26:40
  is
• 26:40
  something
• 26:41
  I
• 26:41
  did
• 26:41
  not
• 26:41
  do
• 26:42
  a
• 26:42
  good
• 26:42
  job
• 26:42
  of.
• 26:42
  I
• 26:42
  have
• 26:43
  all
• 26:43
  the
• 26:43
  training
• 26:43
  in
• 26:43
  the
• 26:44
  world,
• 26:44
  a
• 26:44
  master's
• 26:45
  degree
• 26:45
  in
• 26:45
  accounting,
• 26:46
  and
• 26:46
  it
• 26:46
  finally
• 26:47
  took
• 26:47
  a
• 26:47
  boot
• 26:47
  in
• 26:48
  my
• 26:48
  rear
• 26:48
  end
• 26:48
  from
• 26:48
  my
• 26:48
  wife
• 26:49
  at
• 26:49
  about
• 26:49
  age
• 26:49
  45
• 26:50
  to
• 26:50
  say,
• 26:50
  Ralph,
• 26:51
  you
• 26:51
  need
• 26:51
  to
• 26:51
  start
• 26:51
  thinking
• 26:52
  about
• 26:52
  putting
• 26:52
  money
• 26:52
  into
• 26:53
  retirement.
• 26:54
  I've
• 26:54
  got
• 26:54
  peers
• 26:55
  who
• 26:55
  started
• 26:55
  doing
• 26:55
  that
• 26:55
  at
• 26:56
  25.
• 26:57
  So
• 26:57
  I
• 26:57
  started
• 26:58
  20
• 26:58
  years
• 26:58
  behind
• 26:58
  everybody.
• 26:59
  So
• 26:59
  what
• 26:59
  do
• 26:59
  I
• 26:59
  got
• 26:59
  to
• 27:00
  do
• 27:00
  now?
• 27:00
  I've
• 27:00
  got
• 27:00
  to
• 27:00
  scramble
• 27:01
  to
• 27:01
  get
• 27:02
  to
• 27:02
  that
• 27:02
  same
• 27:02
  level.
• 27:04
  So
• 27:05
  do
• 27:05
  that.
• 27:07
  Because
• 27:07
  the
• 27:07
  people
• 27:07
  with
• 27:08
  $2
• 27:08
  million
• 27:09
  and
• 27:09
  you
• 27:09
  know
• 27:10
  these
• 27:10
  people,
• 27:10
  they're
• 27:10
  probably
• 27:11
  people
• 27:11
  in
• 27:11
  your
• 27:11
  family.
• 27:11
  People,
• 27:12
  you
• 27:12
  know,
• 27:12
  they
• 27:13
  didn't
• 27:13
  get
• 27:13
  there
• 27:13
  by
• 27:13
  making
• 27:14
  dramatic
• 27:14
  moves.
• 27:15
  They
• 27:16
  just
• 27:16
  stayed
• 27:16
  in
• 27:16
  the
• 27:17
  plan.
• 27:18
  And
• 27:18
  that's
• 27:18
  the
• 27:18
  key.
• 27:19
  Little
• 27:20
  by
• 27:20
  little,
• 27:20
  let
• 27:21
  it
• 27:21
  grow.
• 27:21
  Don't
• 27:22
  touch
• 27:22
  it.
• 27:23
  So
• 27:23
  here's
• 27:23
  a
• 27:23
  question
• 27:23
  for
• 27:24
  the
• 27:24
  chat.
• 27:24
  Are
• 27:25
  you
• 27:25
  primarily
• 27:25
  relying
• 27:26
  on
• 27:26
  a
• 27:26
  401k
• 27:27
  retirement
• 27:27
  or
• 27:27
  are
• 27:27
  you
• 27:28
  building
• 27:28
  saving
• 27:28
  somewhere
• 27:29
  else
• 27:30
  to
• 27:31
  what's
• 27:31
  working
• 27:31
  for
• 27:31
  you?
• 27:32
  So
• 27:32
  if
• 27:32
  anybody
• 27:32
  wants
• 27:32
  to
• 27:33
  comment
• 27:33
  on
• 27:33
  that,
• 27:34
  if
• 27:34
  you
• 27:34
  have
• 27:34
  a
• 27:35
  comment
• 27:35
  or
• 27:35
  a
• 27:35
  question
• 27:36
  you
• 27:36
  want
• 27:36
  to
• 27:36
  answer
• 27:36
  in
• 27:37
  the
• 27:37
  chat,
• 27:37
  please
• 27:38
  shoot
• 27:38
  that
• 27:38
  over
• 27:38
  to
• 27:39
  us.
• 27:39
  We'll
• 27:39
  definitely
• 27:40
  answer
• 27:40
  it
• 27:40
  on
• 27:40
  the
• 27:40
  show.
• 27:42
  If
• 27:42
  not,
• 27:42
  we're
• 27:43
  going
• 27:43
  to
• 27:43
  move
• 27:44
  on
• 27:44
  to
• 27:44
  our
• 27:45
  third
• 27:45
  question
• 27:46
  for
• 27:46
  today.
• 27:47
  And
• 27:47
  this
• 27:48
  one
• 27:48
  actually
• 27:49
  is
• 27:49
  a
• 27:49
  comment
• 27:50
  that
• 27:50
  we
• 27:50
  got
• 27:51
  on
• 27:51
  one
• 27:52
  of
• 27:52
  our.
• 27:53
  I
• 27:53
  think
• 27:53
  it
• 27:53
  was
• 27:54
  a
• 27:54
  post
• 27:54
  that
• 27:54
  we
• 27:55
  had
• 27:55
  and
• 27:56
  I
• 27:56
  think
• 27:56
  Abby
• 27:56
  is
• 27:57
  going
• 27:57
  to
• 27:57
  try
• 27:57
  to
• 27:57
  post
• 27:58
  that
• 27:59
  into
• 27:59
  the
• 27:59
  chat,
• 28:00
  but
• 28:00
  I'm
• 28:00
  also
• 28:01
  going
• 28:01
  to
• 28:02
  read
• 28:02
  it
• 28:02
  so
• 28:03
  that
• 28:03
  those
• 28:03
  of
• 28:03
  you
• 28:03
  who
• 28:04
  are
• 28:04
  catching
• 28:04
  us
• 28:05
  on
• 28:05
  audio
• 28:06
  can
• 28:06
  still
• 28:06
  hear
• 28:06
  it
• 28:07
  because
• 28:07
  we
• 28:07
  do
• 28:07
  release
• 28:08
  this
• 28:08
  as
• 28:08
  an
• 28:08
  audio
• 28:09
  episode
• 28:09
  as
• 28:09
  well.
• 28:11
  But
• 28:11
  this
• 28:11
  is
• 28:11
  what
• 28:11
  they
• 28:12
  wrote.
• 28:12
  They
• 28:13
  wrote,
• 28:13
  Ralph,
• 28:13
  I'm
• 28:14
  seeing
• 28:14
  Trump
• 28:14
  account
• 28:15
  ads
• 28:15
  everywhere
• 28:16
  and
• 28:16
  they're
• 28:17
  saying
• 28:17
  $1,000
• 28:18
  free
• 28:18
  for
• 28:18
  newborns,
• 28:19
  but
• 28:19
  I've
• 28:20
  got
• 28:20
  a
• 28:20
  five
• 28:20
  year
• 28:20
  old
• 28:21
  and
• 28:21
  we
• 28:21
  just
• 28:22
  left
• 28:22
  out
• 28:23
  also,
• 28:23
  like
• 28:23
  is
• 28:24
  it
• 28:24
  just
• 28:24
  free
• 28:24
  money
• 28:25
  or
• 28:25
  do
• 28:25
  I
• 28:25
  have
• 28:25
  to
• 28:26
  do
• 28:26
  something
• 28:26
  with
• 28:26
  it?
• 28:27
  After
• 28:27
  all,
• 28:28
  my
• 28:28
  kid
• 28:29
  is
• 28:29
  five.
• 28:29
  So
• 28:30
  if
• 28:30
  I
• 28:30
  start
• 28:30
  saving
• 28:30
  now
• 28:31
  for
• 28:31
  college,
• 28:31
  that's
• 28:32
  13
• 28:32
  years
• 28:33
  away.
• 28:33
  And
• 28:34
  then
• 28:34
  they
• 28:34
  ask
• 28:34
  me
• 28:34
  the
• 28:35
  million
• 28:35
  dollar
• 28:35
  question,
• 28:36
  which
• 28:37
  is
• 28:37
  better,
• 28:38
  Trump
• 28:38
  accounts
• 28:39
  or
• 28:39
  529?
• 28:40
  Because
• 28:40
  everyone
• 28:40
  keeps
• 28:41
  saying
• 28:41
  different
• 28:41
  things
• 28:41
  online
• 28:42
  and
• 28:43
  I'm
• 28:43
  too
• 28:43
  tired
• 28:43
  to
• 28:44
  research
• 28:44
  it.
• 28:45
  And
• 28:45
  then
• 28:45
  they
• 28:45
  sign
• 28:46
  it
• 28:46
  lol.
• 28:46
  Help.
• 28:48
  Well,
• 28:48
  here
• 28:49
  is
• 28:49
  your.
• 28:49
  And
• 28:50
  this
• 28:50
  was
• 28:50
  from
• 28:50
  somebody
• 28:51
  named
• 28:51
  Christy.
• 28:52
  Mom,
• 28:52
  24.
• 28:52
  And
• 28:52
  I
• 28:53
  see
• 28:53
  Abby
• 28:53
  just
• 28:53
  posted
• 28:54
  that
• 28:54
  onto
• 28:55
  the
• 28:56
  live
• 28:56
  chat
• 28:57
  in
• 28:57
  clubhouse
• 28:58
  and
• 28:58
  we'll
• 28:59
  also
• 28:59
  post
• 28:59
  that
• 29:00
  into
• 29:00
  the
• 29:00
  live
• 29:01
  chat
• 29:01
  on
• 29:02
  the
• 29:02
  online
• 29:02
  sites.
• 29:04
  But
• 29:04
  I
• 29:04
  really
• 29:05
  thought
• 29:05
  this
• 29:05
  was
• 29:05
  an
• 29:05
  interesting
• 29:06
  question
• 29:07
  because
• 29:07
  right
• 29:08
  now
• 29:08
  there's
• 29:08
  a
• 29:08
  lot
• 29:08
  of
• 29:09
  people
• 29:09
  being
• 29:09
  flooded
• 29:10
  with
• 29:10
  ads,
• 29:11
  these
• 29:11
  Trump
• 29:11
  account
• 29:12
  ads,
• 29:13
  and
• 29:13
  it
• 29:13
  makes
• 29:13
  it
• 29:14
  harder
• 29:14
  to
• 29:14
  make
• 29:14
  a
• 29:14
  decision.
• 29:16
  And
• 29:16
  a
• 29:16
  lot
• 29:16
  of
• 29:16
  people
• 29:17
  are
• 29:17
  thinking
• 29:17
  the
• 29:17
  same
• 29:17
  thing.
• 29:18
  I
• 29:18
  have
• 29:18
  plenty
• 29:18
  of
• 29:18
  people
• 29:18
  that
• 29:18
  came
• 29:19
  in
• 29:19
  this
• 29:19
  taxi
• 29:19
  and
• 29:19
  said,
• 29:20
  ralph,
• 29:20
  explain
• 29:20
  these
• 29:20
  Trump
• 29:21
  accounts
• 29:21
  to
• 29:21
  me.
• 29:21
  I
• 29:22
  don't
• 29:22
  understand.
• 29:22
  I
• 29:22
  see
• 29:23
  all
• 29:23
  kinds
• 29:23
  of
• 29:24
  advertisements
• 29:25
  and
• 29:26
  people
• 29:26
  just
• 29:26
  like
• 29:26
  you
• 29:27
  aren't
• 29:27
  sure
• 29:27
  if
• 29:27
  they're
• 29:28
  choosing
• 29:28
  between
• 29:28
  two
• 29:28
  good
• 29:29
  options
• 29:29
  or
• 29:29
  two
• 29:29
  tools
• 29:30
  for
• 29:30
  completely
• 29:30
  different
• 29:31
  jobs.
• 29:31
  And
• 29:31
  I
• 29:31
  think
• 29:31
  that's
• 29:32
  really
• 29:32
  what
• 29:32
  we're
• 29:32
  talking
• 29:32
  about
• 29:33
  here.
• 29:33
  Honestly,
• 29:34
  I
• 29:34
  think
• 29:34
  that
• 29:34
  this
• 29:35
  has
• 29:35
  been
• 29:35
  kind
• 29:35
  of
• 29:35
  blurred
• 29:36
  a
• 29:36
  Little
• 29:36
  bit.
• 29:37
  A
• 29:37
  new
• 29:37
  parent
• 29:38
  who
• 29:38
  wants
• 29:38
  to
• 29:38
  get
• 29:38
  this
• 29:38
  right
• 29:39
  before
• 29:39
  someone
• 29:39
  else
• 29:40
  makes
• 29:40
  the
• 29:40
  choice
• 29:40
  for
• 29:40
  her.
• 29:40
  That's
• 29:41
  really
• 29:41
  what
• 29:41
  we're
• 29:41
  talking
• 29:41
  about
• 29:41
  here.
• 29:42
  So
• 29:43
  here's
• 29:43
  my
• 29:43
  practical
• 29:44
  takeaways.
• 29:45
  I
• 29:45
  don't
• 29:45
  often
• 29:45
  say
• 29:46
  this
• 29:46
  on
• 29:46
  the
• 29:46
  show
• 29:47
  that
• 29:47
  I
• 29:47
  can
• 29:47
  tell
• 29:47
  you
• 29:47
  exactly
• 29:48
  to
• 29:48
  do
• 29:48
  something.
• 29:48
  If
• 29:48
  you
• 29:48
  have
• 29:49
  a
• 29:49
  child
• 29:50
  that
• 29:50
  qualifies
• 29:51
  for
• 29:51
  the
• 29:51
  thousand
• 29:52
  dollars,
• 29:53
  you
• 29:53
  take
• 29:53
  the
• 29:54
  thousand
• 29:54
  dollars.
• 29:54
  This
• 29:54
  is
• 29:55
  a
• 29:55
  no
• 29:55
  brainer.
• 29:56
  Sign
• 29:56
  up
• 29:56
  for
• 29:57
  the
• 29:57
  Trump
• 29:57
  account
• 29:57
  and
• 29:58
  take
• 29:58
  it.
• 29:58
  There
• 29:59
  is
• 29:59
  no
• 29:59
  reason
• 30:00
  not
• 30:00
  to.
• 30:00
  You
• 30:00
  just
• 30:00
  have
• 30:00
  to
• 30:01
  make
• 30:01
  sure
• 30:01
  you
• 30:01
  open
• 30:01
  that
• 30:01
  account
• 30:01
  through
• 30:02
  the
• 30:02
  irs.
• 30:02
  You
• 30:02
  could
• 30:02
  do
• 30:03
  it
• 30:03
  as
• 30:03
  part
• 30:03
  of
• 30:03
  your
• 30:03
  tax
• 30:03
  return
• 30:04
  if
• 30:04
  you
• 30:04
  already
• 30:04
  filed.
• 30:05
  You
• 30:05
  can
• 30:05
  now
• 30:06
  go
• 30:06
  to
• 30:06
  TrumpAccounts.gov
• 30:08
  that'll
• 30:08
  start
• 30:09
  on
• 30:09
  July
• 30:09
  4,
• 30:10
  2026.
• 30:10
  What
• 30:11
  a
• 30:11
  great
• 30:11
  day
• 30:11
  to
• 30:11
  pick
• 30:11
  it.
• 30:12
  250
• 30:12
  years
• 30:12
  as
• 30:12
  a
• 30:13
  country.
• 30:13
  But
• 30:14
  go
• 30:14
  there
• 30:14
  and
• 30:15
  claim
• 30:15
  your
• 30:16
  thousand
• 30:16
  dollars.
• 30:17
  It's
• 30:18
  free
• 30:18
  money.
• 30:19
  There's
• 30:20
  no
• 30:20
  scam
• 30:21
  here.
• 30:22
  Don't
• 30:22
  leave
• 30:22
  that
• 30:22
  on
• 30:23
  the
• 30:23
  table.
• 30:23
  I
• 30:23
  talk
• 30:23
  about
• 30:23
  this
• 30:23
  with
• 30:24
  retirement
• 30:24
  all
• 30:24
  the
• 30:24
  time.
• 30:25
  If
• 30:25
  you're
• 30:25
  walking
• 30:25
  down
• 30:26
  the
• 30:26
  road,
• 30:26
  you
• 30:26
  lean
• 30:27
  over
• 30:27
  and
• 30:27
  there's
• 30:27
  $100
• 30:28
  laying
• 30:28
  on
• 30:28
  the
• 30:28
  sidewalk.
• 30:29
  Do
• 30:29
  you
• 30:29
  bend
• 30:29
  over
• 30:29
  and
• 30:29
  pick
• 30:30
  it
• 30:30
  up
• 30:30
  or
• 30:30
  do
• 30:30
  you
• 30:30
  keep
• 30:30
  walking?
• 30:31
  You
• 30:32
  bend
• 30:32
  over
• 30:32
  and
• 30:32
  you
• 30:32
  pick
• 30:33
  it
• 30:33
  up.
• 30:33
  You
• 30:33
  got
• 30:33
  to
• 30:34
  do
• 30:34
  this
• 30:34
  here.
• 30:34
  Don't
• 30:34
  leave
• 30:35
  it
• 30:35
  on
• 30:35
  the
• 30:35
  table.
• 30:36
  Here's
• 30:36
  the
• 30:36
  way
• 30:36
  these
• 30:36
  Trump
• 30:37
  accounts
• 30:37
  work.
• 30:38
  Trump
• 30:38
  accounts
• 30:38
  become
• 30:39
  traditional
• 30:39
  IRAs
• 30:40
  when
• 30:41
  your
• 30:41
  child
• 30:41
  turns
• 30:42
  18.
• 30:43
  They're
• 30:43
  retirement
• 30:44
  accounts.
• 30:44
  And
• 30:44
  this
• 30:44
  is
• 30:45
  where
• 30:45
  a
• 30:45
  lot
• 30:45
  of
• 30:45
  people
• 30:45
  get
• 30:45
  confused.
• 30:46
  The
• 30:46
  Trump
• 30:47
  accounts
• 30:47
  are
• 30:48
  retirement
• 30:48
  accounts,
• 30:49
  they're
• 30:49
  not
• 30:49
  college
• 30:50
  accounts.
• 30:51
  So
• 30:52
  if
• 30:52
  you
• 30:52
  wanted
• 30:52
  to
• 30:52
  use
• 30:53
  one
• 30:53
  of
• 30:53
  those
• 30:53
  as
• 30:54
  an
• 30:54
  education
• 30:54
  account,
• 30:55
  that
• 30:55
  comes
• 30:56
  with
• 30:56
  taxes
• 30:56
  and
• 30:56
  penalties.
• 30:57
  Now
• 30:58
  what
• 30:58
  we're
• 30:58
  really
• 30:58
  leaning
• 30:59
  into
• 30:59
  here
• 31:00
  are
• 31:00
  529
• 31:02
  plans.
• 31:02
  If
• 31:02
  you
• 31:03
  want
• 31:03
  to
• 31:03
  talk
• 31:03
  about
• 31:03
  education
• 31:04
  sake.
• 31:04
  So
• 31:04
  let
• 31:04
  me
• 31:04
  just
• 31:04
  back
• 31:05
  up
• 31:05
  for
• 31:05
  one
• 31:05
  second.
• 31:05
  I
• 31:05
  feel
• 31:05
  like
• 31:06
  I'm
• 31:06
  jumping
• 31:06
  ahead
• 31:06
  here.
• 31:07
  If
• 31:07
  you
• 31:08
  want
• 31:08
  to
• 31:08
  contribute
• 31:08
  to
• 31:09
  the
• 31:09
  Trump
• 31:09
  account,
• 31:09
  take
• 31:09
  the
• 31:10
  thousand
• 31:10
  dollars
• 31:10
  and
• 31:11
  do
• 31:11
  it.
• 31:11
  That's
• 31:11
  great.
• 31:12
  I
• 31:13
  think
• 31:13
  I'm
• 31:13
  going
• 31:13
  to
• 31:13
  talk
• 31:14
  here
• 31:14
  in
• 31:14
  a
• 31:14
  minute
• 31:14
  how
• 31:14
  much
• 31:14
  you
• 31:14
  can
• 31:15
  put
• 31:15
  into
• 31:15
  those.
• 31:16
  But
• 31:16
  if
• 31:16
  you're
• 31:16
  really
• 31:17
  trying
• 31:17
  to
• 31:17
  save
• 31:17
  for
• 31:18
  education,
• 31:19
  I
• 31:19
  honestly
• 31:20
  think
• 31:21
  the
• 31:21
  best
• 31:22
  education,
• 31:23
  the
• 31:23
  best
• 31:23
  tool
• 31:24
  for
• 31:24
  education
• 31:25
  is
• 31:25
  using
• 31:25
  a
• 31:26
  529
• 31:26
  plan.
• 31:27
  The
• 31:28
  reason
• 31:28
  I
• 31:28
  love
• 31:28
  529
• 31:29
  plans
• 31:30
  is
• 31:30
  the
• 31:30
  money
• 31:30
  that
• 31:31
  you
• 31:31
  put
• 31:31
  in
• 31:31
  there
• 31:31
  grows
• 31:32
  tax
• 31:32
  free
• 31:33
  and
• 31:33
  you
• 31:33
  can
• 31:34
  use
• 31:34
  that
• 31:34
  money
• 31:34
  for
• 31:35
  tuition,
• 31:36
  for
• 31:36
  books,
• 31:36
  for
• 31:37
  tutoring,
• 31:38
  even
• 31:38
  K
• 31:38
  through
• 31:39
  12
• 31:39
  costs.
• 31:39
  Now
• 31:40
  up
• 31:40
  to
• 31:40
  $20,000
• 31:41
  a
• 31:41
  year
• 31:42
  comes
• 31:42
  out
• 31:42
  tax
• 31:42
  free.
• 31:43
  Now
• 31:44
  Delaware,
• 31:44
  where
• 31:44
  I'm
• 31:45
  located,
• 31:45
  doesn't
• 31:46
  offer
• 31:46
  a
• 31:46
  deduction
• 31:46
  for
• 31:47
  529
• 31:47
  plans.
• 31:48
  But
• 31:48
  there
• 31:48
  are
• 31:49
  many
• 31:49
  states
• 31:50
  that
• 31:50
  do
• 31:50
  Offer
• 31:51
  deduction
• 31:51
  for
• 31:51
  that.
• 31:51
  As
• 31:52
  I
• 31:52
  know
• 31:52
  right
• 31:52
  now
• 31:52
  there
• 31:53
  are
• 31:53
  no
• 31:53
  states
• 31:53
  that
• 31:54
  offer
• 31:54
  that
• 31:54
  for
• 31:54
  a
• 31:54
  Trump
• 31:55
  account.
• 31:56
  So
• 31:56
  in
• 31:56
  the
• 31:56
  end
• 31:56
  the
• 31:57
  answer
• 31:57
  isn't
• 31:57
  one
• 31:58
  or
• 31:58
  the
• 31:58
  other.
• 31:59
  As
• 31:59
  I've
• 31:59
  said,
• 32:00
  open
• 32:00
  the
• 32:00
  Trump
• 32:00
  account,
• 32:01
  take
• 32:01
  the
• 32:02
  thousand
• 32:02
  dollars,
• 32:02
  let
• 32:03
  it
• 32:03
  grow
• 32:03
  towards
• 32:03
  retirement,
• 32:05
  set
• 32:05
  it
• 32:05
  and
• 32:05
  forget
• 32:05
  it.
• 32:06
  That's
• 32:06
  fine.
• 32:07
  But
• 32:07
  if
• 32:07
  you're
• 32:07
  thinking
• 32:08
  about
• 32:08
  funding
• 32:08
  your
• 32:09
  child's
• 32:09
  education,
• 32:10
  open
• 32:11
  a
• 32:11
  529
• 32:12
  plan.
• 32:13
  We're
• 32:13
  really
• 32:13
  talking
• 32:13
  about
• 32:14
  two
• 32:14
  tools
• 32:16
  from
• 32:16
  two
• 32:16
  different
• 32:16
  jobs.
• 32:18
  Which
• 32:18
  leads
• 32:19
  me
• 32:19
  to
• 32:19
  this
• 32:19
  scripture
• 32:19
  verse
• 32:20
  and
• 32:21
  I
• 32:21
  use
• 32:21
  this
• 32:21
  one
• 32:21
  when
• 32:21
  I
• 32:22
  talk
• 32:22
  about
• 32:22
  planning
• 32:22
  for
• 32:22
  your
• 32:23
  children
• 32:23
  all
• 32:23
  the
• 32:23
  time.
• 32:23
  It's
• 32:23
  from
• 32:24
  Proverbs,
• 32:24
  chapter
• 32:24
  13,
• 32:25
  verse
• 32:25
  22.
• 32:26
  It
• 32:26
  says
• 32:26
  a
• 32:26
  good
• 32:26
  person
• 32:27
  leaves
• 32:27
  an
• 32:28
  inheritance
• 32:28
  for
• 32:28
  their
• 32:28
  children's
• 32:29
  children.
• 32:30
  And
• 32:30
  that's
• 32:31
  really
• 32:31
  what
• 32:31
  I
• 32:31
  think
• 32:31
  this
• 32:31
  person's
• 32:32
  asking
• 32:32
  about.
• 32:34
  You're
• 32:34
  thinking
• 32:34
  about
• 32:34
  two
• 32:35
  generations
• 32:35
  ahead
• 32:35
  for
• 32:36
  a
• 32:36
  baby
• 32:36
  that's
• 32:36
  a
• 32:37
  month
• 32:37
  old.
• 32:38
  And
• 32:38
  that's
• 32:39
  a
• 32:39
  wonderful
• 32:39
  thing.
• 32:40
  That
• 32:41
  is
• 32:41
  a
• 32:41
  beautiful
• 32:41
  thing.
• 32:43
  So
• 32:43
  let
• 32:43
  me
• 32:43
  ask
• 32:43
  the
• 32:43
  chat
• 32:44
  right
• 32:44
  now.
• 32:44
  Parents,
• 32:45
  are
• 32:45
  you
• 32:45
  saving
• 32:45
  for
• 32:45
  your
• 32:46
  kids
• 32:46
  education?
• 32:47
  Are
• 32:47
  you
• 32:47
  using
• 32:47
  529
• 32:48
  plans?
• 32:49
  Are
• 32:49
  you
• 32:49
  using
• 32:49
  savings
• 32:50
  account
• 32:50
  or
• 32:50
  using
• 32:50
  something
• 32:51
  else?
• 32:51
  What
• 32:51
  are
• 32:52
  you
• 32:52
  using
• 32:52
  and
• 32:52
  why
• 32:53
  and
• 32:53
  what's
• 32:53
  working
• 32:53
  for
• 32:53
  you?
• 32:54
  I
• 32:54
  know
• 32:55
  in
• 32:55
  my
• 32:55
  practice
• 32:55
  I
• 32:55
  see
• 32:56
  a
• 32:56
  lot
• 32:56
  of
• 32:56
  people
• 32:56
  creating
• 32:57
  these
• 32:57
  529
• 32:58
  plans.
• 32:58
  I
• 32:58
  see
• 32:58
  other
• 32:58
  people
• 32:59
  that
• 32:59
  are
• 32:59
  doing
• 32:59
  other
• 33:00
  plans.
• 33:00
  But
• 33:00
  I
• 33:01
  just
• 33:01
  want
• 33:01
  to
• 33:01
  know
• 33:01
  from
• 33:01
  the
• 33:02
  chat
• 33:02
  here
• 33:02
  if
• 33:02
  anybody
• 33:02
  wants
• 33:03
  to
• 33:03
  participate,
• 33:04
  what
• 33:04
  is
• 33:04
  working
• 33:04
  for
• 33:05
  you
• 33:05
  now
• 33:06
  and
• 33:06
  what
• 33:06
  are
• 33:06
  you
• 33:07
  benefiting
• 33:07
  from
• 33:07
  it?
• 33:07
  And
• 33:08
  also
• 33:08
  if
• 33:08
  you
• 33:08
  want
• 33:08
  to
• 33:09
  throw
• 33:09
  it
• 33:09
  out
• 33:09
  there,
• 33:09
  if
• 33:10
  you've
• 33:10
  got
• 33:10
  a
• 33:10
  child,
• 33:11
  have
• 33:11
  you
• 33:11
  taken
• 33:11
  advantage
• 33:12
  of
• 33:12
  the
• 33:12
  thousand
• 33:12
  dollar
• 33:13
  Trump
• 33:13
  accounts
• 33:14
  this
• 33:14
  year
• 33:14
  during
• 33:15
  tax
• 33:15
  season
• 33:15
  I
• 33:15
  do
• 33:16
  about
• 33:16
  500
• 33:16
  individual
• 33:17
  tax
• 33:17
  returns
• 33:18
  a
• 33:18
  year.
• 33:18
  And
• 33:19
  I
• 33:19
  think
• 33:19
  I
• 33:19
  might
• 33:19
  have
• 33:19
  had
• 33:20
  three
• 33:20
  people
• 33:21
  that
• 33:21
  even
• 33:21
  that
• 33:22
  had
• 33:22
  any
• 33:22
  clue
• 33:22
  what
• 33:23
  I
• 33:23
  was
• 33:23
  talking
• 33:23
  about.
• 33:24
  And
• 33:24
  I
• 33:24
  think
• 33:24
  of
• 33:24
  those
• 33:25
  only
• 33:25
  one
• 33:26
  person
• 33:26
  actually
• 33:27
  was
• 33:27
  able
• 33:27
  or
• 33:28
  decided
• 33:28
  to
• 33:29
  take
• 33:29
  it
• 33:29
  up
• 33:29
  on
• 33:29
  the
• 33:29
  thousand
• 33:30
  dollars.
• 33:30
  I
• 33:30
  said
• 33:30
  listen,
• 33:30
  this
• 33:30
  is
• 33:31
  a
• 33:31
  no
• 33:31
  brainer.
• 33:32
  And
• 33:32
  there
• 33:32
  was
• 33:32
  actually
• 33:32
  an
• 33:33
  article.
• 33:33
  You're
• 33:34
  going
• 33:34
  to
• 33:34
  laugh
• 33:34
  when
• 33:34
  I
• 33:34
  tell
• 33:34
  you
• 33:34
  the
• 33:35
  name
• 33:35
  of
• 33:35
  the
• 33:35
  article.
• 33:35
  It's
• 33:35
  from
• 33:35
  Kiplinger's.
• 33:36
  It
• 33:36
  says
• 33:36
  Trump
• 33:37
  accounts
• 33:37
  are
• 33:37
  a
• 33:38
  no
• 33:38
  brainer
• 33:38
  if
• 33:38
  you're
• 33:39
  eligible.
• 33:39
  Thank
• 33:39
  you.
• 33:40
  I
• 33:40
  could
• 33:40
  have
• 33:40
  written
• 33:41
  we'll
• 33:41
  put
• 33:41
  a
• 33:41
  link
• 33:41
  to
• 33:42
  that
• 33:42
  in
• 33:42
  the
• 33:42
  show
• 33:42
  notes,
• 33:43
  but
• 33:43
  it
• 33:44
  comes
• 33:44
  directly
• 33:44
  from
• 33:44
  this.
• 33:46
  It's
• 33:46
  an
• 33:46
  honest
• 33:47
  headline.
• 33:47
  Sometimes
• 33:48
  when
• 33:48
  you
• 33:48
  see
• 33:48
  headlines
• 33:48
  like
• 33:49
  wait
• 33:49
  a
• 33:49
  minute,
• 33:49
  that's
• 33:49
  just
• 33:49
  clickbait.
• 33:50
  No,
• 33:50
  this
• 33:51
  is
• 33:51
  true.
• 33:53
  $1,000
• 33:54
  free.
• 33:55
  Once
• 33:55
  you
• 33:55
  do
• 33:56
  that,
• 33:56
  that's
• 33:56
  a
• 33:56
  different
• 33:56
  decision.
• 33:57
  The
• 33:58
  problem
• 33:58
  is
• 33:58
  parents
• 33:59
  are
• 33:59
  being
• 33:59
  flooded
• 33:59
  with
• 33:59
  ads
• 34:00
  that
• 34:00
  skip
• 34:00
  over
• 34:00
  the
• 34:01
  important
• 34:01
  details
• 34:01
  about
• 34:01
  it.
• 34:02
  And
• 34:02
  I
• 34:02
  want
• 34:02
  to
• 34:02
  get
• 34:02
  into
• 34:02
  those
• 34:02
  details
• 34:03
  a
• 34:03
  little
• 34:03
  bit
• 34:03
  right
• 34:03
  now
• 34:04
  because
• 34:04
  I've
• 34:05
  had
• 34:05
  several
• 34:05
  clients
• 34:05
  say
• 34:05
  to
• 34:06
  me,
• 34:06
  well,
• 34:06
  Ralph,
• 34:06
  these
• 34:06
  Trump
• 34:06
  things
• 34:07
  are
• 34:07
  fantastic.
• 34:08
  The
• 34:09
  thousand
• 34:09
  dollars
• 34:09
  is
• 34:10
  real.
• 34:11
  That's
• 34:11
  true.
• 34:12
  You
• 34:12
  get
• 34:12
  the
• 34:12
  thousand
• 34:13
  dollars,
• 34:13
  it's
• 34:13
  yours,
• 34:14
  not
• 34:14
  yours.
• 34:14
  It
• 34:14
  goes
• 34:15
  into
• 34:15
  this
• 34:15
  account
• 34:15
  that
• 34:15
  turns
• 34:16
  into
• 34:16
  an
• 34:16
  IRA
• 34:16
  for
• 34:16
  your
• 34:17
  child
• 34:17
  at
• 34:17
  18.
• 34:18
  But
• 34:18
  there
• 34:19
  is
• 34:19
  differences
• 34:20
  in
• 34:20
  the
• 34:20
  account
• 34:20
  structure
• 34:21
  here
• 34:21
  and
• 34:22
  there
• 34:22
  are
• 34:22
  trade
• 34:22
  offs
• 34:23
  that
• 34:23
  the
• 34:23
  ads
• 34:23
  don't
• 34:23
  mention.
• 34:25
  Here's
• 34:25
  the
• 34:25
  first
• 34:25
  thing.
• 34:26
  Families
• 34:26
  with
• 34:26
  older
• 34:27
  kids.
• 34:27
  If
• 34:27
  your
• 34:28
  kid
• 34:28
  isn't
• 34:29
  born
• 34:29
  in
• 34:29
  one
• 34:29
  of
• 34:29
  the
• 34:30
  years,
• 34:30
  and
• 34:30
  I
• 34:30
  don't
• 34:30
  have
• 34:30
  the
• 34:31
  numbers
• 34:31
  right
• 34:31
  in
• 34:31
  front
• 34:31
  of
• 34:31
  me,
• 34:32
  there
• 34:32
  are
• 34:32
  certain
• 34:32
  years
• 34:32
  where
• 34:33
  your
• 34:33
  child
• 34:33
  has
• 34:33
  to
• 34:33
  be
• 34:33
  born.
• 34:35
  If
• 34:35
  your
• 34:35
  kid's
• 34:36
  not
• 34:36
  born
• 34:36
  in
• 34:36
  that
• 34:36
  year,
• 34:36
  you
• 34:36
  don't
• 34:37
  get
• 34:37
  the
• 34:37
  thousand
• 34:37
  dollars.
• 34:38
  Here's
• 34:39
  some
• 34:39
  big
• 34:39
  high
• 34:39
  level
• 34:40
  stuff.
• 34:40
  Trump
• 34:40
  accounts
• 34:41
  actually
• 34:41
  officially
• 34:42
  open
• 34:42
  on
• 34:43
  July
• 34:43
  4,
• 34:44
  2026.
• 34:45
  If
• 34:45
  you've
• 34:46
  had
• 34:46
  children
• 34:46
  born
• 34:46
  between
• 34:47
  2025
• 34:48
  and
• 34:48
  2028,
• 34:49
  you
• 34:50
  get
• 34:50
  the
• 34:50
  $1,000
• 34:51
  federal
• 34:51
  deposit.
• 34:52
  But
• 34:52
  you've
• 34:52
  got
• 34:52
  to
• 34:52
  ask
• 34:53
  for
• 34:53
  it.
• 34:53
  You
• 34:54
  can
• 34:54
  open
• 34:54
  those
• 34:54
  through
• 34:55
  the
• 34:55
  IRS
• 34:55
  as
• 34:55
  part
• 34:56
  of
• 34:56
  your
• 34:56
  tax
• 34:56
  return.
• 34:57
  Or
• 34:57
  as
• 34:57
  I
• 34:57
  said,
• 34:57
  we'll
• 34:57
  put
• 34:58
  this
• 34:58
  in
• 34:58
  the
• 34:58
  show
• 34:58
  notes.
• 34:58
  You
• 34:59
  can
• 34:59
  go
• 34:59
  to
• 34:59
  trumpaccounts.gov
• 35:00
  now
• 35:01
  with
• 35:01
  these
• 35:02
  Trump
• 35:02
  accounts,
• 35:03
  you
• 35:03
  can
• 35:03
  put
• 35:03
  $5,000
• 35:05
  a
• 35:05
  year
• 35:05
  into
• 35:05
  those
• 35:06
  Trump
• 35:06
  accounts.
• 35:07
  So
• 35:07
  that's
• 35:08
  really
• 35:08
  the
• 35:08
  Trump
• 35:08
  accounts.
• 35:09
  If
• 35:09
  you
• 35:09
  got
• 35:09
  the
• 35:09
  money
• 35:09
  for
• 35:10
  free,
• 35:10
  take
• 35:10
  it.
• 35:10
  If
• 35:10
  your
• 35:10
  baby's
• 35:11
  born
• 35:11
  in
• 35:11
  25,
• 35:12
  26,
• 35:12
  27,
• 35:13
  28,
• 35:13
  like
• 35:13
  I'm
• 35:14
  getting
• 35:14
  ready
• 35:14
  to
• 35:14
  have
• 35:14
  a
• 35:14
  grandson.
• 35:15
  I
• 35:15
  am
• 35:15
  super
• 35:16
  excited.
• 35:16
  It's
• 35:17
  going
• 35:17
  to
• 35:17
  be
• 35:17
  in
• 35:17
  the
• 35:17
  next
• 35:18
  short
• 35:18
  term.
• 35:18
  It
• 35:18
  could
• 35:19
  even
• 35:19
  be
• 35:19
  this
• 35:19
  weekend,
• 35:20
  who
• 35:20
  knows?
• 35:20
  I'm
• 35:21
  just
• 35:21
  praying
• 35:21
  that
• 35:22
  he's
• 35:22
  going
• 35:22
  to
• 35:22
  be
• 35:22
  healthy
• 35:23
  and
• 35:23
  safe
• 35:23
  and
• 35:24
  my
• 35:24
  favorite
• 35:24
  daughter
• 35:25
  in
• 35:25
  law
• 35:25
  is
• 35:25
  going
• 35:25
  to
• 35:25
  be
• 35:25
  great.
• 35:25
  Now
• 35:26
  I
• 35:26
  say
• 35:26
  favorite
• 35:26
  daughter
• 35:26
  in
• 35:27
  law
• 35:27
  because
• 35:27
  I
• 35:27
  only
• 35:27
  have
• 35:27
  one.
• 35:27
  So
• 35:28
  I'm
• 35:28
  not
• 35:28
  offending
• 35:28
  anybody.
• 35:29
  But
• 35:29
  I
• 35:30
  am
• 35:30
  definitely
• 35:30
  going
• 35:30
  to
• 35:30
  tell
• 35:31
  my
• 35:31
  son
• 35:31
  and
• 35:31
  my
• 35:31
  daughter
• 35:32
  in
• 35:32
  law,
• 35:32
  go
• 35:33
  get
• 35:33
  the
• 35:33
  Trump
• 35:33
  account,
• 35:33
  take
• 35:34
  the
• 35:34
  thousand
• 35:34
  dollars
• 35:35
  and
• 35:35
  put
• 35:35
  it
• 35:35
  away.
• 35:36
  It's
• 35:36
  fantastic.
• 35:37
  It's
• 35:37
  free
• 35:37
  money.
• 35:38
  But
• 35:38
  my
• 35:39
  son,
• 35:39
  my
• 35:39
  older
• 35:39
  son's
• 35:40
  also
• 35:40
  a
• 35:40
  planner.
• 35:41
  So
• 35:41
  we're
• 35:41
  going
• 35:41
  to
• 35:41
  talk
• 35:42
  about
• 35:42
  529
• 35:42
  plans.
• 35:43
  Now,
• 35:43
  he's
• 35:44
  in
• 35:44
  the
• 35:44
  military,
• 35:44
  so
• 35:45
  there
• 35:45
  are
• 35:45
  some
• 35:45
  nuances
• 35:45
  to
• 35:46
  him.
• 35:46
  He
• 35:46
  might
• 35:46
  have
• 35:46
  different
• 35:47
  bills
• 35:47
  that
• 35:47
  he
• 35:47
  can
• 35:48
  use
• 35:48
  for
• 35:48
  paying
• 35:49
  for
• 35:49
  things.
• 35:49
  We're
• 35:49
  not
• 35:49
  going
• 35:49
  to
• 35:49
  get
• 35:49
  into
• 35:50
  that
• 35:50
  today.
• 35:51
  But
• 35:51
  a
• 35:51
  529
• 35:52
  plan,
• 35:52
  as
• 35:53
  compared
• 35:53
  to
• 35:53
  the
• 35:53
  Trump
• 35:53
  account,
• 35:54
  The
• 35:54
  Trump
• 35:54
  account,
• 35:55
  the
• 35:55
  maximum
• 35:55
  contribution
• 35:56
  is
• 35:56
  $5,000
• 35:57
  a
• 35:57
  year.
• 35:57
  Again,
• 35:57
  it's
• 35:58
  just
• 35:58
  thought
• 35:58
  as
• 35:59
  a
• 35:59
  way
• 35:59
  to
• 35:59
  put
• 36:00
  aside
• 36:00
  money
• 36:00
  for
• 36:01
  your
• 36:01
  child
• 36:01
  so
• 36:01
  that
• 36:01
  when
• 36:02
  they
• 36:02
  turn
• 36:02
  18,
• 36:02
  they've
• 36:03
  got
• 36:03
  something.
• 36:04
  But
• 36:04
  the
• 36:04
  529
• 36:05
  plan
• 36:05
  allows
• 36:05
  you
• 36:05
  to
• 36:06
  put
• 36:06
  $95,000
• 36:08
  in
• 36:08
  a
• 36:09
  single
• 36:09
  year
• 36:09
  into
• 36:10
  that.
• 36:10
  So
• 36:11
  if
• 36:11
  Grandma
• 36:11
  or
• 36:12
  Grandpa
• 36:12
  or
• 36:12
  Aunt
• 36:13
  Sally
• 36:13
  or
• 36:13
  Uncle
• 36:14
  Joe
• 36:14
  want
• 36:14
  to
• 36:15
  put
• 36:15
  some
• 36:15
  money
• 36:15
  aside
• 36:16
  into
• 36:16
  your
• 36:16
  kid's
• 36:16
  retirement
• 36:17
  account,
• 36:17
  or,
• 36:17
  excuse
• 36:17
  me,
• 36:18
  into
• 36:18
  their
• 36:18
  529
• 36:18
  education
• 36:19
  account,
• 36:20
  they
• 36:20
  can
• 36:20
  put
• 36:21
  $95,000
• 36:22
  into
• 36:22
  that
• 36:23
  with
• 36:23
  zero
• 36:24
  tax
• 36:24
  consequence
• 36:25
  for
• 36:25
  them
• 36:25
  or
• 36:26
  for
• 36:26
  the
• 36:26
  person
• 36:26
  who
• 36:27
  received
• 36:27
  it.
• 36:27
  So
• 36:27
  these
• 36:27
  are
• 36:28
  very
• 36:28
  different
• 36:28
  tools
• 36:30
  at
• 36:30
  very
• 36:30
  different
• 36:30
  scales.
• 36:31
  Now,
• 36:32
  continuing
• 36:32
  our
• 36:32
  contrast
• 36:33
  here,
• 36:33
  at
• 36:34
  age
• 36:34
  18,
• 36:35
  that
• 36:35
  Trump
• 36:35
  account
• 36:36
  converts
• 36:36
  to
• 36:37
  a
• 36:37
  traditional
• 36:37
  IRA.
• 36:38
  Now,
• 36:38
  in
• 36:38
  the
• 36:39
  back
• 36:39
  of
• 36:39
  your
• 36:39
  head,
• 36:39
  start
• 36:39
  thinking
• 36:40
  through
• 36:40
  that
• 36:40
  a
• 36:40
  little
• 36:40
  bit.
• 36:41
  So
• 36:41
  that
• 36:41
  money's
• 36:41
  going
• 36:42
  to
• 36:42
  grow
• 36:42
  tax
• 36:42
  free,
• 36:43
  which
• 36:43
  is
• 36:43
  fantastic.
• 36:44
  You're
• 36:44
  going
• 36:44
  to
• 36:44
  get
• 36:44
  the
• 36:44
  benefit
• 36:45
  of
• 36:45
  compound
• 36:45
  interest.
• 36:46
  And
• 36:46
  when
• 36:47
  they
• 36:47
  turn
• 36:47
  18,
• 36:47
  that
• 36:48
  money's
• 36:48
  still
• 36:48
  going
• 36:48
  to
• 36:48
  be
• 36:48
  in
• 36:49
  a
• 36:49
  traditional
• 36:49
  IRA.
• 36:50
  So
• 36:51
  if
• 36:51
  they
• 36:51
  want
• 36:51
  to
• 36:51
  take
• 36:51
  that
• 36:52
  money
• 36:52
  out
• 36:52
  to
• 36:52
  use
• 36:52
  it
• 36:53
  for
• 36:53
  something,
• 36:54
  there's
• 36:54
  going
• 36:54
  to
• 36:54
  be
• 36:54
  a
• 36:55
  tax
• 36:55
  consequence
• 36:55
  to
• 36:55
  that.
• 36:56
  Now,
• 36:56
  I
• 36:56
  haven't
• 36:56
  seen
• 36:57
  the
• 36:57
  final
• 36:57
  registry
• 36:58
  or
• 36:58
  the
• 36:58
  final
• 36:58
  regulations
• 36:59
  on
• 36:59
  this,
• 37:00
  but
• 37:00
  is
• 37:00
  there
• 37:01
  going
• 37:01
  to
• 37:01
  be
• 37:01
  a
• 37:01
  10%
• 37:01
  penalty?
• 37:02
  Now,
• 37:02
  that
• 37:03
  said,
• 37:03
  there
• 37:03
  are
• 37:04
  ways
• 37:04
  to
• 37:04
  take
• 37:04
  money
• 37:05
  out
• 37:05
  of
• 37:05
  a
• 37:05
  traditional
• 37:06
  IRA
• 37:06
  for
• 37:07
  education,
• 37:07
  for
• 37:07
  your
• 37:08
  first
• 37:08
  home,
• 37:09
  for
• 37:09
  hardships,
• 37:10
  for
• 37:10
  medical,
• 37:10
  without
• 37:11
  paying
• 37:11
  that
• 37:11
  10%
• 37:12
  penalty,
• 37:12
  but
• 37:13
  you're
• 37:13
  going
• 37:13
  to
• 37:13
  pay
• 37:14
  the
• 37:14
  tax
• 37:14
  as
• 37:15
  well.
• 37:16
  Whereas
• 37:16
  on
• 37:16
  a
• 37:17
  529
• 37:17
  plan,
• 37:19
  those
• 37:19
  you
• 37:19
  don't
• 37:19
  have
• 37:19
  to
• 37:20
  pay
• 37:20
  any
• 37:20
  tax
• 37:20
  on
• 37:20
  at
• 37:20
  all.
• 37:22
  So
• 37:22
  college
• 37:22
  withdrawals
• 37:23
  without
• 37:23
  penalty
• 37:23
  are
• 37:24
  not
• 37:24
  part
• 37:24
  of
• 37:24
  the
• 37:24
  Trump
• 37:24
  accounts,
• 37:25
  but
• 37:25
  they
• 37:25
  are
• 37:25
  on
• 37:25
  the
• 37:25
  529
• 37:26
  plans.
• 37:28
  Unused
• 37:29
  529
• 37:29
  funds
• 37:30
  can
• 37:30
  now
• 37:30
  be
• 37:30
  transferred
• 37:31
  up
• 37:31
  to
• 37:31
  $35,000
• 37:32
  into
• 37:33
  a
• 37:33
  Roth
• 37:33
  IRA.
• 37:34
  That's
• 37:35
  assuming
• 37:35
  that
• 37:35
  the
• 37:35
  account
• 37:35
  has
• 37:36
  been
• 37:36
  open
• 37:36
  for
• 37:36
  15
• 37:36
  years.
• 37:37
  That's
• 37:37
  a
• 37:37
  flexibility
• 37:38
  that
• 37:38
  doesn't
• 37:38
  exist
• 37:39
  with
• 37:39
  the
• 37:39
  Trump
• 37:39
  accounts.
• 37:41
  And
• 37:41
  then
• 37:41
  it
• 37:41
  says
• 37:41
  here
• 37:42
  in
• 37:42
  my
• 37:42
  notes
• 37:42
  here,
• 37:42
  children
• 37:43
  born
• 37:43
  before
• 37:43
  2025
• 37:44
  may
• 37:44
  qualify
• 37:44
  for
• 37:45
  a
• 37:45
  $250
• 37:45
  grant
• 37:46
  through
• 37:46
  a
• 37:46
  private
• 37:46
  donation.
• 37:47
  Yeah,
• 37:48
  they
• 37:48
  haven't
• 37:48
  talked
• 37:48
  a
• 37:48
  lot
• 37:48
  about
• 37:48
  this
• 37:49
  on
• 37:49
  the
• 37:49
  news,
• 37:49
  but
• 37:49
  I
• 37:50
  actually
• 37:50
  saw
• 37:50
  this.
• 37:51
  There's
• 37:51
  a
• 37:51
  people
• 37:51
  named
• 37:52
  Michael
• 37:52
  and
• 37:52
  Susan
• 37:53
  Dell.
• 37:53
  They
• 37:54
  are
• 37:54
  putting
• 37:55
  money
• 37:55
  in,
• 37:55
  sort
• 37:55
  of
• 37:55
  the
• 37:56
  private
• 37:56
  sector
• 37:56
  money.
• 37:57
  But
• 37:57
  children
• 37:58
  born
• 37:58
  before
• 37:59
  2025
• 37:59
  could
• 38:00
  qualify
• 38:01
  for
• 38:01
  a
• 38:01
  $250
• 38:02
  grant.
• 38:02
  I
• 38:02
  don't
• 38:03
  have
• 38:03
  all
• 38:03
  the
• 38:03
  specifics
• 38:03
  on
• 38:04
  that.
• 38:04
  I
• 38:04
  don't
• 38:04
  even
• 38:04
  know
• 38:05
  that
• 38:05
  that's
• 38:05
  out
• 38:05
  there.
• 38:05
  I
• 38:06
  think
• 38:06
  once
• 38:06
  July
• 38:06
  4th
• 38:07
  hits,
• 38:07
  we'll
• 38:07
  see
• 38:07
  more
• 38:07
  of
• 38:08
  that.
• 38:09
  That's
• 38:09
  not
• 38:09
  $1,000,
• 38:10
  but
• 38:10
  it's
• 38:10
  still
• 38:11
  worth
• 38:11
  noting.
• 38:11
  Now,
• 38:11
  I
• 38:11
  don't
• 38:11
  know
• 38:12
  if
• 38:12
  there
• 38:12
  are
• 38:12
  going
• 38:12
  to
• 38:12
  be
• 38:13
  certain
• 38:13
  requirements
• 38:14
  based
• 38:14
  on
• 38:15
  income
• 38:15
  or
• 38:15
  based
• 38:16
  on
• 38:16
  age
• 38:16
  or
• 38:16
  any
• 38:16
  of
• 38:16
  those
• 38:17
  things,
• 38:17
  but
• 38:18
  keep
• 38:18
  an
• 38:18
  eye
• 38:18
  open
• 38:18
  because
• 38:18
  Again,
• 38:19
  if
• 38:19
  you
• 38:19
  can
• 38:20
  get
• 38:20
  someone
• 38:20
  to
• 38:20
  give
• 38:21
  you
• 38:21
  $250,
• 38:22
  hey,
• 38:23
  take
• 38:23
  it.
• 38:24
  I
• 38:24
  think
• 38:24
  that
• 38:25
  is
• 38:25
  a
• 38:25
  great
• 38:26
  thing.
• 38:26
  And
• 38:27
  Abby,
• 38:27
  thank
• 38:27
  you.
• 38:27
  Congratulations.
• 38:28
  I
• 38:28
  appreciate
• 38:29
  you
• 38:29
  saying
• 38:29
  that.
• 38:30
  Yeah,
• 38:30
  I
• 38:31
  don't
• 38:31
  know
• 38:31
  that
• 38:31
  my
• 38:31
  daughter
• 38:31
  in
• 38:32
  law
• 38:32
  and
• 38:32
  son
• 38:32
  are
• 38:32
  ready
• 38:32
  for
• 38:33
  what's
• 38:33
  fixing
• 38:33
  to
• 38:33
  happen.
• 38:33
  And
• 38:34
  my
• 38:34
  grandfather
• 38:34
  used
• 38:34
  to
• 38:34
  say
• 38:34
  fixing,
• 38:35
  that
• 38:35
  was
• 38:35
  his
• 38:35
  term
• 38:35
  to
• 38:36
  use
• 38:36
  all
• 38:36
  the
• 38:36
  time.
• 38:36
  It's
• 38:36
  fixing
• 38:37
  to
• 38:37
  happen.
• 38:37
  But
• 38:38
  here's
• 38:38
  some
• 38:38
  quotes
• 38:38
  from
• 38:39
  the
• 38:39
  articles
• 38:40
  as
• 38:40
  we
• 38:40
  start
• 38:40
  to
• 38:41
  talk
• 38:41
  about
• 38:41
  the
• 38:41
  end
• 38:41
  of
• 38:41
  this
• 38:41
  one.
• 38:42
  And
• 38:42
  so
• 38:42
  $3,000
• 38:43
  for
• 38:43
  newborn
• 38:43
  makes
• 38:43
  Trump
• 38:44
  accounts
• 38:44
  a
• 38:44
  no
• 38:44
  brainer.
• 38:45
  The
• 38:45
  bigger
• 38:46
  question
• 38:46
  is
• 38:46
  whether
• 38:46
  to
• 38:47
  contribute
• 38:47
  more.
• 38:47
  Yeah,
• 38:48
  that's
• 38:48
  really
• 38:48
  the
• 38:48
  key.
• 38:49
  This
• 38:49
  was
• 38:49
  by
• 38:50
  JP
• 38:50
  Morgan
• 38:50
  Asset
• 38:51
  Management.
• 38:52
  Yeah,
• 38:52
  take
• 38:52
  the
• 38:52
  $1,000.
• 38:53
  But
• 38:53
  then
• 38:53
  the
• 38:54
  question
• 38:54
  is
• 38:54
  do
• 38:54
  you
• 38:54
  put
• 38:54
  more
• 38:55
  into
• 38:55
  that
• 38:55
  or
• 38:55
  do
• 38:55
  you
• 38:55
  put
• 38:55
  it
• 38:56
  into
• 38:56
  a
• 38:56
  529
• 38:56
  plan?
• 38:57
  There's
• 38:58
  another
• 38:58
  thing
• 38:58
  here
• 38:58
  by
• 38:59
  savings
• 38:59
  for
• 38:59
  College
• 38:59
  says
• 39:00
  529
• 39:00
  plans
• 39:00
  remain
• 39:01
  the
• 39:01
  superior
• 39:01
  vehicle
• 39:02
  for
• 39:02
  college
• 39:02
  and
• 39:03
  other
• 39:03
  educational
• 39:04
  goals
• 39:04
  compared
• 39:04
  to
• 39:04
  Trump
• 39:05
  accounts.
• 39:05
  I
• 39:06
  think
• 39:06
  that's
• 39:06
  a
• 39:06
  great
• 39:06
  point
• 39:06
  too.
• 39:07
  And
• 39:07
  Fidelity
• 39:08
  says
• 39:08
  this
• 39:08
  open
• 39:08
  a
• 39:09
  Trump
• 39:09
  account
• 39:09
  via
• 39:09
  IRS
• 39:10
  form.
• 39:11
  So
• 39:11
  here
• 39:11
  we're
• 39:11
  going
• 39:11
  to
• 39:11
  get
• 39:11
  real
• 39:12
  into
• 39:12
  the
• 39:12
  details.
• 39:13
  So
• 39:13
  if
• 39:13
  you're
• 39:13
  listening
• 39:13
  to
• 39:14
  this
• 39:14
  or
• 39:14
  you're
• 39:14
  watching
• 39:14
  this
• 39:15
  online,
• 39:15
  here's
• 39:16
  the
• 39:16
  form
• 39:16
  you
• 39:16
  need
• 39:16
  to
• 39:16
  know.
• 39:17
  It's
• 39:17
  IRS
• 39:18
  form
• 39:19
  4547.
• 39:20
  Hey,
• 39:20
  go
• 39:21
  figure.
• 39:21
  Trump
• 39:21
  is
• 39:22
  4547.
• 39:23
  Pretty
• 39:24
  nifty,
• 39:24
  huh?
• 39:25
  Or
• 39:25
  you
• 39:25
  can
• 39:25
  go
• 39:25
  to
• 39:25
  trumpaccounts.gov
• 39:27
  and
• 39:27
  claim
• 39:27
  the
• 39:27
  seed
• 39:27
  money
• 39:28
  if
• 39:28
  you're
• 39:28
  eligible
• 39:29
  and
• 39:29
  then
• 39:29
  consider
• 39:29
  that
• 39:30
  529
• 39:30
  plan
• 39:31
  for
• 39:31
  education
• 39:32
  expenses.
• 39:33
  Well,
• 39:33
  here's
• 39:33
  my
• 39:33
  take
• 39:34
  on
• 39:34
  the
• 39:34
  holding.
• 39:34
  This
• 39:34
  is
• 39:34
  why
• 39:35
  you
• 39:35
  tuned
• 39:35
  in.
• 39:35
  Listen,
• 39:36
  the
• 39:36
  families
• 39:37
  who
• 39:37
  do
• 39:37
  well
• 39:38
  with
• 39:38
  these
• 39:38
  accounts
• 39:39
  won't
• 39:39
  be
• 39:39
  the
• 39:40
  ones
• 39:40
  who
• 39:40
  reacted
• 39:40
  to
• 39:41
  an
• 39:41
  ad.
• 39:42
  They're
• 39:42
  going
• 39:42
  to
• 39:42
  be
• 39:43
  the
• 39:43
  ones
• 39:43
  who
• 39:43
  slowed
• 39:43
  down,
• 39:44
  read
• 39:45
  past
• 39:45
  the
• 39:45
  headlines
• 39:46
  and
• 39:46
  made
• 39:47
  a
• 39:47
  plan.
• 39:49
  That's
• 39:49
  what
• 39:50
  our
• 39:50
  listeners
• 39:50
  are
• 39:50
  already
• 39:50
  doing
• 39:51
  here.
• 39:51
  The
• 39:52
  person
• 39:52
  who
• 39:52
  put
• 39:52
  this
• 39:52
  out
• 39:53
  there,
• 39:53
  that's
• 39:53
  what
• 39:53
  they're
• 39:53
  doing.
• 39:54
  Because
• 39:55
  Scripture
• 39:55
  Proverbs
• 39:56
  21:5
• 39:57
  says
• 39:57
  the
• 39:57
  plans
• 39:57
  of
• 39:57
  the
• 39:58
  diligent
• 39:58
  lead
• 39:58
  to
• 39:58
  profit
• 39:59
  as
• 39:59
  surely
• 40:00
  as
• 40:00
  haste
• 40:01
  leads
• 40:01
  to
• 40:01
  poverty.
• 40:03
  So
• 40:03
  this
• 40:03
  isn't
• 40:03
  a
• 40:04
  time
• 40:04
  to
• 40:04
  react.
• 40:05
  This
• 40:05
  is
• 40:05
  a
• 40:05
  time
• 40:06
  to
• 40:06
  plan.
• 40:07
  Because
• 40:07
  that
• 40:08
  one
• 40:08
  difference
• 40:09
  changes
• 40:10
  everything.
• 40:11
  So
• 40:11
  think
• 40:11
  about
• 40:11
  this.
• 40:12
  If
• 40:12
  you've
• 40:12
  got
• 40:12
  young
• 40:12
  kids,
• 40:13
  what's
• 40:14
  one
• 40:14
  thing
• 40:14
  you
• 40:14
  wish
• 40:15
  someone
• 40:15
  had
• 40:15
  told
• 40:15
  you
• 40:16
  earlier
• 40:16
  about
• 40:16
  saving
• 40:16
  for
• 40:17
  their
• 40:17
  future?
• 40:18
  I'm
• 40:19
  thinking
• 40:19
  about
• 40:19
  that
• 40:19
  for
• 40:19
  my
• 40:20
  grandson.
• 40:21
  What
• 40:21
  is
• 40:21
  some
• 40:21
  wisdom
• 40:22
  I
• 40:22
  can
• 40:22
  give
• 40:22
  my
• 40:23
  daughter
• 40:23
  in
• 40:23
  law,
• 40:23
  my
• 40:23
  son?
• 40:24
  As
• 40:24
  they're
• 40:25
  embarking
• 40:25
  on
• 40:25
  this,
• 40:25
  they're
• 40:26
  going
• 40:26
  to
• 40:26
  be
• 40:26
  in
• 40:26
  the
• 40:26
  diaper
• 40:27
  stage
• 40:27
  here
• 40:28
  in
• 40:28
  the
• 40:28
  Formula
• 40:28
  stage,
• 40:29
  and
• 40:29
  whatever
• 40:29
  that
• 40:29
  looks
• 40:29
  like.
• 40:30
  But
• 40:31
  what
• 40:31
  is
• 40:31
  some
• 40:31
  guidance
• 40:32
  that
• 40:32
  we
• 40:32
  can
• 40:32
  give
• 40:32
  our
• 40:33
  children
• 40:33
  and
• 40:33
  our
• 40:33
  grandchildren
• 40:35
  about
• 40:35
  how
• 40:35
  to
• 40:36
  plan
• 40:36
  for
• 40:36
  the
• 40:36
  future?
• 40:37
  I
• 40:38
  think
• 40:38
  that's
• 40:38
  really
• 40:38
  important
• 40:38
  that
• 40:39
  we
• 40:39
  do
• 40:39
  that.
• 40:41
  Okay,
• 40:43
  So
• 40:44
  I
• 40:44
  want
• 40:44
  to
• 40:44
  go
• 40:44
  through
• 40:44
  and
• 40:45
  just
• 40:45
  kind
• 40:45
  of
• 40:45
  re.
• 40:46
  Go
• 40:47
  through
• 40:47
  what
• 40:47
  we
• 40:47
  talk
• 40:47
  about
• 40:47
  today.
• 40:50
  If
• 40:50
  you're
• 40:50
  a
• 40:50
  mom
• 40:51
  who's
• 40:51
  tired,
• 40:52
  your
• 40:52
  mom's
• 40:53
  habits
• 40:53
  weren't
• 40:53
  embarrassing.
• 40:54
  They
• 40:54
  were
• 40:54
  working.
• 40:54
  So,
• 40:55
  as
• 40:55
  we
• 40:55
  talked
• 40:55
  about
• 40:55
  in
• 40:55
  the
• 40:56
  first
• 40:56
  question,
• 40:57
  that's
• 40:57
  a
• 40:58
  great
• 40:58
  way
• 40:58
  to
• 40:58
  save
• 40:58
  money
• 40:58
  on
• 40:59
  your
• 40:59
  groceries.
• 41:02
  Scrape
• 41:02
  that
• 41:02
  pan,
• 41:03
  save
• 41:04
  that
• 41:04
  carcass.
• 41:04
  Yeah,
• 41:05
  we're
• 41:05
  talking
• 41:05
  about
• 41:05
  carcasses
• 41:06
  on
• 41:06
  this
• 41:06
  show.
• 41:06
  We're
• 41:06
  talking
• 41:06
  about
• 41:07
  chicken
• 41:07
  carcasses
• 41:07
  and
• 41:08
  making
• 41:08
  soup.
• 41:10
  But
• 41:10
  make
• 41:11
  it
• 41:11
  automatic.
• 41:11
  Make
• 41:11
  it
• 41:12
  that
• 41:12
  habit
• 41:12
  that
• 41:12
  you
• 41:12
  keep
• 41:12
  building.
• 41:14
  And
• 41:14
  maybe
• 41:14
  you're
• 41:14
  like,
• 41:15
  David,
• 41:15
  you
• 41:15
  got
• 41:15
  22
• 41:16
  years
• 41:16
  in
• 41:16
  your
• 41:16
  retirement
• 41:17
  plan.
• 41:17
  You
• 41:18
  didn't
• 41:18
  do
• 41:18
  anything
• 41:18
  wrong.
• 41:20
  But
• 41:20
  add
• 41:20
  to
• 41:20
  that,
• 41:21
  build
• 41:21
  that
• 41:21
  emergency
• 41:22
  fund,
• 41:22
  start
• 41:22
  with
• 41:22
  $500,
• 41:24
  and
• 41:25
  then
• 41:25
  just
• 41:25
  build
• 41:25
  from
• 41:25
  there.
• 41:26
  Have
• 41:27
  that
• 41:27
  cash
• 41:27
  outside
• 41:28
  the
• 41:28
  retirement
• 41:28
  accounts,
• 41:29
  what
• 41:29
  I
• 41:29
  call
• 41:29
  a
• 41:29
  firewall.
• 41:30
  That's
• 41:31
  what's
• 41:31
  missing.
• 41:33
  And
• 41:33
  if
• 41:33
  you're
• 41:33
  the
• 41:33
  new
• 41:33
  mom
• 41:34
  figuring
• 41:34
  out
• 41:34
  accounts,
• 41:35
  hey,
• 41:35
  take
• 41:35
  the
• 41:35
  $1,000.
• 41:36
  You
• 41:37
  can
• 41:37
  say,
• 41:37
  ralph
• 41:38
  said
• 41:38
  it.
• 41:38
  Give
• 41:38
  me
• 41:39
  my
• 41:39
  thousand
• 41:39
  bucks,
• 41:40
  Open
• 41:40
  that
• 41:41
  Trump
• 41:41
  account.
• 41:42
  But
• 41:42
  then
• 41:42
  if
• 41:42
  you're
• 41:43
  thinking
• 41:43
  about
• 41:43
  education,
• 41:43
  open
• 41:44
  up
• 41:44
  that
• 41:44
  529
• 41:45
  plan
• 41:46
  and
• 41:46
  put
• 41:46
  the
• 41:46
  regular
• 41:47
  contributions
• 41:47
  there.
• 41:48
  Again,
• 41:48
  two
• 41:48
  tools,
• 41:49
  two
• 41:49
  jobs.
• 41:51
  But
• 41:51
  do
• 41:51
  one
• 41:52
  thing
• 41:52
  this
• 41:52
  week.
• 41:53
  I
• 41:53
  never
• 41:53
  want
• 41:53
  to
• 41:53
  overburden
• 41:54
  you
• 41:54
  with
• 41:54
  anything.
• 41:54
  So
• 41:54
  if
• 41:55
  you're
• 41:55
  looking
• 41:55
  to
• 41:55
  save
• 41:55
  money
• 41:56
  on
• 41:56
  groceries,
• 41:57
  plan
• 41:57
  your
• 41:57
  meals,
• 41:58
  lay
• 41:59
  that
• 41:59
  out,
• 41:59
  put
• 42:00
  your
• 42:00
  budget
• 42:00
  together.
• 42:01
  If
• 42:02
  you're
• 42:02
  looking
• 42:02
  to
• 42:02
  do
• 42:03
  the
• 42:03
  retirement
• 42:03
  plan
• 42:03
  and
• 42:03
  you
• 42:04
  don't
• 42:04
  have
• 42:05
  an
• 42:06
  emergency
• 42:06
  fund,
• 42:07
  do
• 42:07
  that.
• 42:08
  Start
• 42:08
  with
• 42:08
  $500.
• 42:09
  It
• 42:09
  doesn't
• 42:09
  have
• 42:09
  to
• 42:10
  be
• 42:10
  a
• 42:10
  big
• 42:10
  amount.
• 42:11
  And
• 42:11
  then
• 42:12
  finally,
• 42:12
  if
• 42:12
  you're
• 42:12
  thinking
• 42:12
  about
• 42:13
  the
• 42:13
  trumpet,
• 42:13
  if
• 42:13
  you
• 42:13
  got
• 42:13
  a
• 42:14
  child
• 42:14
  that's
• 42:14
  born
• 42:14
  this
• 42:14
  year,
• 42:15
  go
• 42:15
  get
• 42:15
  your
• 42:15
  thousand
• 42:16
  dollars.
• 42:17
  Just
• 42:17
  one
• 42:18
  step.
• 42:18
  That's
• 42:18
  all
• 42:18
  it
• 42:18
  takes.
• 42:19
  This
• 42:19
  week,
• 42:20
  you're
• 42:20
  not
• 42:21
  failing
• 42:21
  in
• 42:21
  anything
• 42:21
  you're
• 42:22
  doing.
• 42:22
  You're
• 42:22
  surviving.
• 42:24
  You're
• 42:24
  starting,
• 42:25
  and
• 42:26
  you're
• 42:26
  making
• 42:26
  choices,
• 42:28
  and
• 42:28
  that's
• 42:28
  progress.
• 42:29
  Now,
• 42:29
  one
• 42:30
  of
• 42:30
  the
• 42:30
  things
• 42:30
  I
• 42:30
  want
• 42:30
  to
• 42:30
  mention
• 42:30
  here
• 42:31
  is
• 42:31
  I
• 42:31
  also
• 42:31
  do
• 42:32
  a
• 42:32
  daily
• 42:32
  show.
• 42:32
  You
• 42:33
  can
• 42:33
  catch
• 42:33
  that
• 42:33
  every
• 42:34
  day.
• 42:34
  It's
• 42:34
  not
• 42:34
  live
• 42:34
  like
• 42:35
  this
• 42:35
  show,
• 42:35
  but
• 42:36
  you
• 42:36
  can
• 42:36
  go
• 42:36
  to
• 42:36
  financiallyconfidentchristian.com.
• 42:39
  You
• 42:39
  can
• 42:40
  get
• 42:40
  that
• 42:40
  wherever
• 42:40
  you
• 42:40
  get
• 42:40
  your
• 42:41
  pockets.
• 42:41
  Now,
• 42:41
  I
• 42:41
  can
• 42:41
  just
• 42:42
  hear
• 42:42
  people
• 42:42
  saying,
• 42:42
  well,
• 42:42
  Ralph,
• 42:43
  be
• 42:43
  specific.
• 42:43
  Even
• 42:44
  better,
• 42:44
  go
• 42:44
  to
• 42:45
  financiallyconfidentchristian.com
• 42:47
  and
• 42:47
  sign
• 42:48
  up
• 42:48
  for
• 42:48
  our
• 42:48
  newsletter.
• 42:49
  Become
• 42:49
  a
• 42:49
  member
• 42:50
  of
• 42:50
  that.
• 42:50
  You
• 42:50
  can
• 42:50
  join
• 42:50
  our
• 42:50
  Patreon
• 42:51
  community.
• 42:51
  As
• 42:52
  I
• 42:52
  said,
• 42:52
  that's@financiallyconfidentchristian.com
• 42:55
  Join
• 42:56
  in
• 42:56
  the
• 42:56
  Patreon
• 42:57
  community.
• 42:57
  We
• 42:57
  put
• 42:58
  special
• 42:58
  things
• 42:58
  over
• 42:58
  there.
• 42:59
  You
• 42:59
  can
• 42:59
  ask
• 42:59
  questions,
• 43:00
  you
• 43:00
  can
• 43:00
  talk
• 43:00
  about
• 43:00
  what's
• 43:00
  working
• 43:01
  for
• 43:01
  you.
• 43:02
  All
• 43:02
  those
• 43:03
  things
• 43:03
  are
• 43:03
  great.
• 43:03
  Now,
• 43:04
  don't
• 43:04
  forget
• 43:04
  to
• 43:04
  join
• 43:04
  me
• 43:05
  next
• 43:05
  Friday,
• 43:06
  same
• 43:06
  time.
• 43:07
  We're
• 43:07
  going
• 43:07
  to
• 43:08
  do
• 43:08
  this
• 43:08
  every
• 43:08
  week.
• 43:08
  So
• 43:08
  if
• 43:08
  you
• 43:09
  know
• 43:09
  somebody
• 43:09
  that's
• 43:09
  battling
• 43:10
  with
• 43:10
  financial
• 43:10
  questions,
• 43:11
  have
• 43:12
  them
• 43:12
  come
• 43:12
  join
• 43:12
  us
• 43:12
  live.
• 43:13
  They
• 43:13
  can
• 43:13
  join
• 43:14
  on
• 43:14
  Clubhouse.
• 43:14
  They
• 43:14
  can
• 43:15
  go
• 43:15
  to
• 43:15
  the
• 43:15
  chat.
• 43:16
  That's
• 43:16
  financiallyconfidentchristian.com
• 43:18
  FCCLive
• 43:20
  but
• 43:20
  how
• 43:20
  about
• 43:20
  we
• 43:21
  end
• 43:21
  in
• 43:21
  prayer
• 43:21
  today?
• 43:22
  Lord,
• 43:23
  I
• 43:23
  just
• 43:23
  want
• 43:23
  to
• 43:23
  thank
• 43:23
  you
• 43:23
  for
• 43:24
  the
• 43:24
  people
• 43:24
  who
• 43:24
  have
• 43:24
  joined
• 43:25
  us
• 43:25
  today,
• 43:26
  the
• 43:26
  people
• 43:26
  who
• 43:26
  are
• 43:26
  listening,
• 43:27
  the
• 43:27
  people
• 43:27
  who
• 43:27
  are
• 43:27
  watching.
• 43:28
  Lord,
• 43:29
  I
• 43:29
  just
• 43:29
  thank
• 43:29
  you
• 43:29
  for
• 43:30
  their
• 43:30
  honesty
• 43:30
  about
• 43:31
  where
• 43:31
  they
• 43:31
  really
• 43:31
  are.
• 43:32
  It
• 43:32
  all
• 43:32
  starts
• 43:32
  with
• 43:32
  honesty.
• 43:33
  It
• 43:33
  all
• 43:33
  starts
• 43:34
  with
• 43:34
  an
• 43:34
  assessment
• 43:34
  of
• 43:34
  where
• 43:35
  you
• 43:35
  are.
• 43:36
  And
• 43:36
  I
• 43:36
  just
• 43:36
  want
• 43:36
  to
• 43:36
  pray
• 43:37
  right
• 43:37
  now
• 43:37
  for
• 43:37
  the
• 43:37
  mom
• 43:38
  who's
• 43:38
  exhausted
• 43:38
  and
• 43:39
  still
• 43:39
  showing
• 43:39
  up.
• 43:41
  I
• 43:41
  know
• 43:41
  the
• 43:41
  struggle
• 43:41
  you're
• 43:42
  going
• 43:42
  through.
• 43:43
  And
• 43:44
  for
• 43:44
  the
• 43:44
  man
• 43:44
  who's
• 43:44
  been
• 43:45
  faithful
• 43:45
  for
• 43:45
  22
• 43:46
  years
• 43:46
  and
• 43:46
  still
• 43:47
  asking
• 43:47
  if
• 43:47
  he
• 43:47
  got
• 43:47
  it
• 43:47
  right,
• 43:49
  Lord,
• 43:49
  show
• 43:49
  him
• 43:50
  that
• 43:50
  he's
• 43:50
  doing
• 43:50
  it
• 43:50
  right.
• 43:51
  And
• 43:51
  for
• 43:52
  the
• 43:52
  new
• 43:52
  parent
• 43:52
  who
• 43:52
  wants
• 43:53
  to
• 43:53
  give
• 43:53
  her
• 43:53
  daughter
• 43:53
  something
• 43:54
  better.
• 43:55
  Show
• 43:56
  her
• 43:56
  a
• 43:56
  path
• 43:56
  for
• 43:56
  that.
• 43:57
  Help
• 43:58
  them
• 43:58
  all
• 43:58
  to
• 43:58
  break
• 43:58
  that
• 43:59
  cycle
• 43:59
  of
• 43:59
  financial
• 44:00
  shame
• 44:00
  and
• 44:00
  find
• 44:00
  confidence
• 44:01
  in
• 44:01
  what
• 44:01
  they're
• 44:01
  doing.
• 44:03
  And
• 44:03
  remind
• 44:03
  all
• 44:04
  of
• 44:04
  us,
• 44:04
  Lord,
• 44:06
  survival
• 44:06
  is
• 44:06
  success.
• 44:09
  Starting
• 44:09
  is
• 44:09
  courage.
• 44:11
  Planting
• 44:12
  together
• 44:12
  is
• 44:13
  love.
• 44:14
  And
• 44:14
  just
• 44:15
  give
• 44:15
  us
• 44:15
  one
• 44:15
  clear
• 44:16
  next
• 44:16
  step
• 44:16
  this
• 44:17
  week
• 44:18
  so
• 44:18
  we
• 44:18
  can
• 44:18
  break
• 44:18
  that
• 44:19
  cycle
• 44:19
  of
• 44:19
  financial
• 44:19
  shame.
• 44:20
  And
• 44:20
  we
• 44:20
  ask
• 44:20
  this
• 44:20
  in
• 44:21
  Jesus
• 44:21
  name.
• 44:23
  Amen,
• 44:24
  friend.
• 44:25
  I
• 44:25
  want
• 44:25
  to
• 44:25
  end
• 44:25
  with
• 44:25
  this.
• 44:27
  Your
• 44:27
  finances
• 44:28
  don't
• 44:28
  define
• 44:28
  who
• 44:28
  you
• 44:29
  are.
• 44:30
  It's
• 44:30
  your
• 44:31
  courage
• 44:31
  to
• 44:31
  make
• 44:32
  a
• 44:32
  change
• 44:32
  that
• 44:32
  truly
• 44:33
  matters.
• 44:35
  So
• 44:35
  let's
• 44:35
  tackle
• 44:35
  this
• 44:35
  all
• 44:35
  together
• 44:37
  and
• 44:37
  I'll
• 44:37
  see
• 44:37
  you
• 44:38
  again
• 44:38
  next
• 44:38
  week.