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Stand by for an Urgent Message from the crack team at stacking Benjamins live from Joe’s mom’s basement It’s the stacking Benjamins show I’m Joe’s Bob’s neighbor delegate Look who’s joining us today Mom has always Good China out because coming down to the basement to help us answer your letters we welcome special guest co-host Aunt the co creator and producer of the playing with fire documentary Scott Ricketts today We are answering lots of Roth IRA letters because today is William Roth’s birthday plus we’ll share the usual a couple of headlines throughout the Haven lifeline and my incredible Ready to go So am I because right now I’m staring at two guys who aren’t used to share in the mic for a full hour Joe and oh Juju Juju G It’s about time we got somebody to help us carry the show Are you saying that I’m not doing a good enough job? Well, I’m just saying that we might have somebody in the Winx Is this some kind of weird tryout thing that I the old quarterback but you’re bringing in the new guy And I’m supposed to still teach All I’m gonna do is take my job So all I’m saying is is it an hour from now? There will be a vote and we are the weakest link Goodbye I’m here for the interview Mr Riggins joins us How are you? Dude? Hey guys, I’m doing well How are you? I’m fantastic Now that you’re visiting the basement You’re here for the documentary Yeah, that’s coming up tonight or AKA last week If you’re listening to this on the day comes out I gotta tell you I was I’ve been here before and I was in the basement and I was here with Travis the director and I yelled mom meatloaf, and then it was just silent just dead silence Later on, I had to call Travis and say do you know what that was from? It’s a reference It’s from Wedding Crashers Yes Yeah, I figured you guys have probably heard that a million times but it was just dead silence We had to said I wanted to check with you on that Well sure Hey that Mom’s making meatloaf upstairs and be do you know what I’m talking about? We just thought it was kind of awkward It wasn’t it wasn’t it wasn’t anything to do with yeah, you hungry Hey, Mama Get some me laugh as I think I’m okay I had a bite right before I came over Thank you Sure You know what? I will have some meatloaf Let’s have some neat little what some I knew you’d go Who me loud? We want it now I mean, I know she’s doing back there So he’s doing stuff Thank you I feel redeemed So just so everybody knows which voices which I’m Joe sold C However each owe money on Twitter We might as well learn to be so simple figure that out Yes We’ve got OG here And of course as we just mentioned Scott Ricketts is here for people that don’t know about the documentary the book You’ve got a podcast coming tell everybody what you did What have you done? Yes Well, I made a film about the fire movement I wrote a book about my wife and I as first-year experiencing what it was like to implement the strategies of fire movement and now yeah, we’ll be producing a podcast basically as a follow-up to the story that you can follow along with on the dock to kind of keep ourselves in check and give ourselves a weekly update on on our own Journey, and also to kind of cover the going ons in the happenings of the fire movement on a weekly basis So I’m really looking forward to that I’ve actually this whole project when it started out My original idea was just to start a podcast because I really wanted to I used to be in video production I still am a video production and when you poll 20 pelican cases that are a hundred pounds with you everywhere you go podcasting just looks so desirable So it is you haven’t seen what Joe brings to away games ever Haven’t hanging out at your mom’s basement all day making podcast It’s a dream come true Amazing By the way Another thing that is a weekly update Scott is the stacker this episode of stacking Benjamins brought to you by the stacker That’s our Weekly Newsletter where you can find out everything that’s happening in the basement and get nearly weekly money lessons for me stacking Benjamins.com forward slash stacker We got Scott records here got OG here We’ve got your letters It’s William Ross birthday Mom’s got a cake So let’s get this party started Hello Darlings, and now it’s time for your favorite part of the show Our stacking Benjamins headlined

So is this is this dude still alive? Mr Roth passed away some time ago, unfortunately, but his legacy lives on Yes, every time somebody decides to use the back door with the Roth Envoy She see the thing on Twitter the other day about us somebody somebody saying Roth capital r lowercase o th is a person’s name It’s not capital r capital O capital T Capital H is not abbreviation Yeah Yeah It doesn’t mean same for any doesn’t stand for that Yeah, I understand for anything Well does stand for something that dude is for him who is from Delaware by the way, he was a Senator and Delaware You know that make sense Yeah, how was he as a as a human? Was he a good person? He’s very tax-free Yeah I’m very free Yeah, he’s freeing I like him He wasn’t very taxing to be around your right here Yes Let’s get way better Yeah, that was good one Our first headline comes to us from the Globe and Mail We’re gonna go north of the border with this one too Yeah downsizing 21 car This is by Rob Carrick downsizing to one car from to can do wonders for retirees finances Rob rights is terrible as it is for your finances owning two cars is often unavoidable Take two working parents at kids and you have a strong convenience based case for paying the many cost of owning and maintaining a pair of At a home in the suburbs that argument gets even stronger but owning two cars stops making so much sense later in life in retirement You can save a bundle by going down to one vehicle and I wanted to talk about this This is a conclusion that Sylvia thay’s associate financial planner at caring for clients came to recently when drafting a financial plan for a couple looking ahead to retirement in the initial conversation One of the two was About building continued ownership of two cars into the financial plan quote when I talked to her She really wanted to keep her independence She wanted to make sure she would have her own car even in retirement then miss they’s showed her client the benefits of going down to one vehicle retirement Listen, this guy’s by adding the money safe to their Investments the couple would have two extra Years of Living in their home before it had to be sold to generate retirement income their net worth would increase by a future value of 6 Hundred and seventy eight thousand dollars just by getting rid of one car What kind of cars were they driving times like some generous math, but okay Well if it appreciates it 36% your Investments Yeah Porsche 911 is your threshold but you guys did that It’s got you guys downsize from two cars two one Yeah, we designed our life around that functionality and it has drastically improved our quality of life, and I have a Lee fun and functional suggestion or potential suggestion to get around this whole one car issue I recently purchased an electric bike and these things are getting more and more incredible everyday I mean it gets 20 miles or 20 miles an hour in speed I get about a 40 mile range so you can go just about anywhere you would go in a car based on average daily driving of a u.s Person Obviously, there’s a lot of caveats to this you have to live in an area that’s got a decent and relatively safe bike Lanes, you know, things like that and you have to be able bodied enough to actually be on a bike and things like that, you know, if we’re talking about later stage retirees, that might be a consideration but If you meet those criteria is if you have a bike-friendly area at all if you’re able bodied and you can run around with using these things are like car Replacements and there’s this awesome company called rad power bikes and they’re doing everything online So they don’t have a bunch of overhead with a bunch of different storefronts and all their bikes are 1,500 bucks So compared to the price of a vehicle ongoing maintenance all these Electric vehicles far far cheaper and gives you a hell of a range $1,500 second guard Not bad Yeah, I was going to say we were just in Omaha couple weeks ago for the College World Series It’s not a huge down but big enough downtown and they had all the scooters that you could rent, you know with the app and whatever if we had so much fun just kind of screwing around on that I told my wife for Gift idea I said you should get me a scooter because I don’t actually, you know, because I work from home in the basement a lot of times a lot of times I’ll walk, you know, it’s like two and a half miles to go get a cup of coffee or something like that It’s good exercise, but there are times at my home where it might be just a skosh too warm to be outside for a really long period of time so that might be a Maybe a fun alternative to get in the car I was anything about from a cost of you just you know, the whole get in the car and start in the car And when I say environmental issues I was thinking about it just healthy living to I mean you’re outside as opposed to yeah, it’s better for your mental health better for your physical health Yeah Yeah, that’s super fun I’ve only used an electric bike wants and it was really cool There was a big hill we had to go up and I’m pedaling away in the second We hit that he’ll all sudden

There’s this big and I pedal at the same rate and it just brings me right up the hill like this isn’t kind of curious about that because we have a hill in our section of our neighborhood, right and I’m kind of wondering how it’ll do going up the hill But the electric scooter Yeah, I don’t know guys I was in San Francisco running around with an electric scooter There’s some crazy Hills there I didn’t know that I didn’t know that yeah, they’re pretty pretty drastic should have said spoiler Oh man, but it was easier than walking up the hill Yeah, but the second thing just getting rid of that You know, let’s say you can’t get rid of the car like Rob’s talking about for some people in the suburbs don’t have bike Lanes Maybe the electric bike that far to work doesn’t make sense for them getting rid of that car payment still is a huge thing You were leasing cars Yeah, we least two vehicles because we had gone through a couple lemons ourselves and we were getting stranded on the five and that just wasn’t practical and safe and you know, so in our minds it was justified to least new vehicles that we wouldn’t have to deal with like the maintenance and and After actually sitting down and looking at what our cars were costing us, I think in aggregate all the costs considered it was like almost a thousand dollars a month and to cut that down to buying one vehicle for 6,500 bucks and not having any car payments anymore and only having to cover relatively cheap insurance and gas because we don’t use it that often we’ve designed our life to do that We drastically decreased our transportation spending and we are much much happier for it I mean, I I’ll get in my car sometimes and be like, I don’t think I’ve driven this thing in like two weeks and that’s kind of a novel thing and it’s awesome So I think there’s a million benefits to it If you can finagle your way around it and figure it out, but I think it’s worthwhile trying at the very least You should people all the time Mochi that are struggling with their finances and cutting that car cost can be a game-changer for somebody who’s just struggling to make ends meet Well, it’s not even the payment But like Scott said is the maintenance on it It’s the tires It’s all of the stuff that just even if you have a paid for car quite often, that’s the car that has the hundred thousand miles on it You’re like, yeah, I paid it off and what the hell’s an evaporator core and why do I need another one of them and they’re like well will tell you but first give us a check for $4,200 and then we’ll tell you what it’s used for, you know So it can be really frustrating even after that and that’s where you get into those mental games where you’re like I should just lease a freaking car because after I take all the payments that I made for the last five years and then lump in these very odd timed never a good time by the way, $4,000 expenses of and then the alternator went out or then the this one out or whatever you go I should just get a new car every three years and then you get halfway through that and you’re like, well, this is stupid I’m now I’m never getting out of this It’s a really Really tough Catch 22 Yeah, I found going to the $5,000 car and I had clients that when I was a financial planner that would say this is nickel and diming me and I would add up those nickels and dimes you’re talking about because it’s usually not the 4500 like well, I had to put these tires up my rotors whatever you do these things and you compare that to what Scott’s talking about $1,000 a month the nickel and dime Ami argument I think you got to add up the nickels and dimes before he turns into a lot of make that decision and if you get the 5,000 Barfi, if you’re smart with that purchase and you’re getting a Honda or Toyota or something that’s known to be reliable all the way through its two hundred plus Thousand Mile life cycle or or a Saturday or Saturday said obviously Chuck it is only their syllabus this, you know, those two days ago sure it’s easy to find replacement parts for that You guys don’t have to rip me at the same time I’m sitting right here, you know, another quick piece of this is when you have a newer vehicle, especially or even a leased vehicle one thing I’ve noticed my folks actually just got a fairly Vehicle Much to my chagrin and its brand new It’s like really well maintained They kept talking about like man this there’s not even a scratch on this because they bought a used as a Toyota Tacoma They got a truck because my dad’s truck guy, you know is like not even a scratch and when I heard that I was like, oh Jesus Yeah, because you know, you’ve got this really nice car and then you feel like it needs to stay really nice And then when you inevitably drive into a parking lot and somebody dings it and drives away and no kidding within three days Oh no Somebody like backed into the corner and these things are like meant to crumble so that yeah bumper looks like it, you know got smashed with a sledgehammer and one of the backlights is cracked and it’s like when I’m painting this a I know a Toyota minivan that kind of experience this back corner of our garage because the Beeper thing wasn’t working allegedly I don’t know seems like it always works when I drive it but you know, yeah, but the stress involved with that right and the feeling that you have when I happens, it’s like terrible Yeah as opposed to if you have liked my video For instance I could care less what happens that thing like, you know, as long as it’s not like this egregious hole in out of my way people but a dings not going to hurt my feelings I’m not even gonna notice it Yeah, our second deadline comes to us from MarketWatch the best time to shop for just

about anything So last week we had prime day Did you guys pick out on Prime Day by bunch of stuff? Scott I haven’t opened up Amazon in a while No No I didn’t I thought about it They had discounted are pods So they got the new ones at the wireless charging case and they were on sale for 20 bucks and I was like, oh they’re on sale $20 off That’s awesome And then I went but I wasn’t going to buy them Anyway, yeah 179 Why would I you know, I didn’t need them the ones I have are fine So I abstained I remember taking this class in high school We had to take this was pretty cool as a Finance class and I remember our teacher shout out to mrs Bishop Mrs Bishop said she’s like, even if it’s 40% off the other 60% still has to come out of your wallet, even though it’s 40% less the cost before you decided even think about that was zero and then you get home but it’s 40% I got to have some of that It’s 40% come on, but if you do have to buy something these guys talk about the best day All right, and so let’s I thought we’d go through a few of these And by the way, this is written by Courtney jesperson 5 great times the shop number one Thursday’s just any Thursday that just a good day Okay, and then anything in particular on Thursday, they should I think Kourtney rights No specific reason It’s just a great data by know Courtney says shopping at Brick and Mortar stores on a Thursday afternoon or evening can be cost effective This one isn’t a guarantee every time but it’s a good bet according to Christine regime A professor of marketing at Johnson & Wales University in Rhode Island who holds a doctorate in business administration Listen to this Thursday is an important day for consumers to know because that’s when stores take markdowns They’re prepping for the weekend They know they’re going to get the most foot traffic on Friday Saturday and Sunday So they mark it down on on Thursday Mrs OG does her grocery shopping on But largely so she doesn’t have to deal with people on Friday Saturday years Well, that’s I like that too The other thing by the way, you go to a restaurant, you know, this one Monday’s don’t buy don’t buy steak or fish on a Monday because generally the new stuff comes on Tuesday This is from twenty Bourdain’s All the new stuff comes on Tuesday and the chef and his team had her team had been walking around all this stuff all week because it doesn’t look great and finally there at the bottom So you’re literally getting the stuff on Monday that everybody walked by number to call no holiday weekend Our good time to buy in some cases Mondays are better expect big deals on weekends leading up to holiday says Darren doober Smith a senior lecturer marketing at Metropolitan State University of Denver that can apply to an array of products But particularly Big Ticket items like cars a three-day weekends always great for buying during Smith says that’s just a general rule when there’s a day off a Monday off That’s a big deal because it’s Three days of buying instead of two popular sale weekends or Presidents Day Memorial Day and Labor Day Everybody seems to be having a deal on those days But still I don’t like the car lot analogy because what you roll that thing off the lot in your hugely appreciate it Well sure but what about slightly used one or you know the new to me type card, I think the benefit with the car purchase is trying to this goes against what we were just talking about, but if you’re going to get one trying Not be in such a hurry because everything around that purchase in particular is designed to get you to make a decision That day Yes, and if you can just say now wait, like I don’t care if I wait three weeks or five weeks or eight weeks or whatever I’m just looking until I find what I’m looking for, you know, you’ll have so much more availability and you will find the one like using your Monday meet example, that’s just been sitting there and sitting there and sitting there and then you’ll say that cars been sitting there for six weeks They’re probably ready to make a deal on it So did you use did you use a car dealer when you bought your used car? No, we found it on Craigslist and a person Yeah, but I was in that same situation where I didn’t I wasn’t in a hurry and so that works in my benefit I think it was listed at 8,500 and ended up going to down to Grand that was like a three week process I was watching it I realized it wasn’t going and then I hit them up and I asked to do a test drive and didn’t make an offer and I sat on it for a couple days And then I responded again said hey, my wife would like to check it out Can I go play in it? You’re absolutely player Absolutely It was like do you want me to buy this car instead of yeah instead of trying to make an offer on it right away and you know the same thing my folks just moved to to our area and they needed some outdoor furniture for their patio Luckily, they just moved here like Fourth of July weekend right before and there was all these deals on patio furniture and we realized oh, yeah, because everybody buys our patio furniture in the beginning of the summer and now it’s been like a month and a half and nobody’s buying patio furniture anymore

That’s actually the third thing on this list clearance events a key to shopping It says buying products when retailers are liquidating them and moving them to the clearance rack You guys have seen our living room or excuse me, our dining room table upstairs Our House Furniture not a cheap place It was in the warehouse sale the legs for people that don’t know this the legs are all the same However, our legs were like a bee leg of be Legacy leg in a d like there’s no a leg and it had a couple scratches but the thing it’s this I don’t know It’s got this very natural wood grain So the scratches look like it’s part of the deal It was a $1,200 table for a hundred bucks And at that table is beautiful and really heavy it is super fun Yes, that’s legit Yeah, so to your point buying that patio furniture in the fall or when people are liquidating fantastic the last one on here same time as last year If you can’t remember when these types of sale events are going to roll around the deals retailers have hosted in the past usually good indication deals They’re hosting the future regime points out that Sephora has a big makeup sale every May Old Navy has a flip-flop Every June Amazon, of course has Prime day So if you miss the super big sale, put it on your calendar for next year so you don’t forget it Fascinating or you need it that badly so do without ya Yeah That’s another little tip that we’ve used is anytime we do need something on Amazon If it’s not like going to sassy like face lotion or deodorant or something like that We’ll leave it in the cart at least three days And then when you come back three days later, do you really need this thing and man more often than not know that’s one of those tricks to I think for just on my shopping in general right? You login you put it in the cart and then you sign out and and Day and usually within a day you get an email that says hey, there’s something in your car Here’s a 25% off gift certificate Yeah, because it just triggers that automated Channel just it on me Like this guy’s right here He’s ready to buy it That’s a great, you know, just you just put it in there walk away Jonathan’s biggest takeaway I don’t know I think the biggest thing is if you can try to figure out a way to rearrange your schedule, whether it’s your schedule when you buy stuff or it’s your schedule of when you do things, you know, you can find a lot of efficiencies in there whether it’s purchasing or saving money car expenses We talked about that sort of stuff Scott I just realized how much I miss the old days when you could Google promo code and then the thing that you wanted to buy and you would actually find stuff and now it’s like RetailMeNot has bought all of those other companies and dominated the first like three pages of Google Those were the good old days I just realized I miss that so nostalgic we use we use the Huns and say we’ve got honey, right? Yeah, we use honey, but still Yes RetailMeNot, honey You can’t yeah the whole Google thinks done Yeah You’re not gaming it anymore Well today we don’t have a feature guest We have a featured co-host So we also have the pocket Try host Try try Try host trial trial host at Sur like no, that’s bad My tripod today a tripod podcast So I podcast we’re going to between three of us Hopefully answer a bunch of your letter By the way, do not send us new letters Go to The Haven Lifeline stacking Benjamins.com for / voicemail We got so far behind on letters that were not taking anymore, but we’re still trying to work our way through, you know, usually people still write them Richie said we’re about six or seven away from finally being done with letter So let’s get through as many as we can today and lots of Roth IRA stuff Because of mr Ross birthday our first letter comes to us from Eric Eric writes once a pre-tax 401K is maxed out What are the risks of contributing to an after-tax 401K on exiting the company it could be rolled to a Roth IRA per the 2015 Rule and financial aid for kids Well not concern themselves with this asset Just want to know if there’s a tax risk when I leave the company Oh gee, so the after-tax contributions in your 401k Be taken out and put it to a Roth IRA A lot of times people do that immediately Like they do it at the end of the year Largely Those after-tax contributions are going to be the last ones you put in so you put in all your pre-tax re putting all your Roth contributions and then you’re done You know, you’ve put in the 19,000 while the last two months maybe you put in a little extra So you don’t have to wait till the end of the your employment you can take that money out immediately and put it into a Roth the difference is that you’re going to be taxed on the gate so that component of it is going to be taxable just like if you did a non-deductible IRA contribution as we call it the back door, right? If any of that money grows and you convert it, you’re going to pay taxes on it So if you waited your entire career, then you’ll have pre-tax money after-tax

contributions and then growth on the after-tax contributions up to decide on each one Is where you want to put it you’re likely be able to with your Record Keeper Say take my pre-tax stuff Put it in my IRA put my after-tax contributions into my Roth and take the gains from the after-tax contributions and put those either in my Roth and pay taxes on the gain or put them in my IRA and continue to firm So you gotta just had that money set aside to pay the text Yeah Yeah, make sure you have enough Scott Do you guys use Roth IRAs and your plan? Oh, yeah Absolutely We Max them both out every year Yeah, and we’ve looked at front-loading that investment strategy like because I think there’s actually a gain to that to right front loading It just kind of value just going over right? Yeah quicker the better, right? Yeah, you and I were having a discussion yesterday I think it was about the market and about how you’re starting to see people in different cities as you go around the nation asking the same question people ask us which The markets pretty high right now Shouldn’t I wait? Yeah, you’re seeing that Yeah, we run around the country I think I’ve been through about six or seven screenings now and there’s about 200 to 250 people showing up to these screenings every night and we have these q and A’s afterwards and that’s like the most common question is people are seemingly very worried somehow It’s weird that they’re worried that the markets High That are he’s worried that you know, they’re thinking this crash is coming And so yeah that timing bug is happening It feels like everybody’s starting to try to time the market and and I was just think back to conversation I had with jail Collins one time where I was feeling this same way two years ago and I was lamenting the him how I needed to move some money over into an investment and I was like, should I wait because I feel like the markets about to dive and he’s just you could feel his head shaking in his eyes rolling and I think mr Xin jie or set like from the same cloth Yeah I mean, I would say to that point I mean I get what you’re everybody’s saying right like if feels hey snp’s that 3000 right now or give or take that’s the highest it’s ever been shouldn’t I wait for it to pull back and I’ll say well, do you have materially more money today than you did? Christmas Eve, like did you win the lottery in the last 6 months or did you get you know a million dollar bonus? Probably not You’re still trying to invest your $5,000 a month or your $5,000 a year Whatever it is Where were you on Christmas Eve Market was down 20 percent at that point If you’re going to be an expert Market timer, you would have been back in the truck up on Christmas Eve But nobody was why because that same time people are going I don’t know It’s going down I think it’s going to go down a little bit further I don’t want to put my money in now Well, you can’t hit what side you want to take that argument You gotta pick one When are you ever going to put the money market? Yeah, it’s down 20% You were waiting for it to decline It’s declined do now this is actually funny though G because we were actually talking about this as well Scott just happen to have some money available, right? Very close just add the bottom to Christmas Eve just bounce off the bed where two years ago where two years ago I put words in your two years ago You would have gone this time You didn’t even look you just put it in So you were that guy II just happened to be that guy total accident I know it’s never going to happen again Be lucky than good Right? Absolutely Yeah, but I recognize that wasn’t my genius that was just pure freaking luck But but there was genius which is put it in right now Just put it in Yeah Sure That is a that’s the genius part is that if you think about it from the time Horizon standpoint if you say When do I need this money if you’re going? Well, I need it in six weeks Well, it’s not going to Market Anyway, that’s a stupid game to play if you’re going Well I need for my kids education He’s 8 Okay, you’ve got a long time as I need it for my retirement When I’m 92, you are not going to keep a record of the purchase price of the herbs that you know, the closing market value the S&P 500 when you put in this year’s Roth contribution when you’re got 40 years on you know, like just get it just be done with it Just I feel like the easiest Mantra to just Mine is that age-old like time in the market is better than timing the market period and no one can can argue that because no one’s a future teller and unless you are just put the money in the investment I just saw one of the folks at ritholtz I don’t know if you follow them on Twitter out of one of their very, yeah one of their own Barry what I mean Barry one of their personalities their at the latest update of some stock market prognosticator that every year has issued like the it’s going down 70% To be the greatest decline of our lifetime in its he’s got a back to 2010 So every year he’s got a new You know something it’s like well, oh yeah markets at an all-time high It’s about time for Bill to start complain Oh, there is there is he’s called 17 to the last three down markets, right? Yeah, Samantha writes To Us by the way Thanks for the letter Eric Samantha rights to us and said if I were to open a Roth IRA Now by contributing a hundred dollars to the fund and then roll over $500 from a traditional IRA next year Can I then withdraw the $500 in four or five years in other words? I’m not sure the five-year rule begins with the opening the account or when the funds were deposited in it

Thanks so much question about the five-year rule in Roth IRAs OG Yeah cool thing is that actually The Five-Year clock starts the January 1 the year that you put money in So even if you waited until this letter was written sometime ago It’s now July you put your hundred dollars in now The date on this is technically January 1 this year So you have all the way until December to quote start the clock for your 5-year distribution rules I don’t know why you’d want to use them But you could use that it goes back to the first of the calendar year, but as she’s rolling $500 over from our traditional IRA does have the same tax consequences Well, I mean she’s going to pay taxes on That $500 now right because it was a she got a tax benefit already So you’re going to pay taxes on that and then it’s yeah, it’s just because it’s part of that same Roth IRA It’s just that account So whatever money goes in, you know has the same five-year rule Yeah, gotcha So it’ll count as contributions is what I was going to say I’m looking at the time I’m getting a little parched Doug is really excited about doing some trivia So guys, why don’t we take a quick break and Doug the microphones yours They are trivia fans on Joe’s mods neighbor Doug And today we’re celebrating the life of a man whose name when mentioned makes grown men’s hearts Who else but William Roth while the inventor of the Roth IRA passed away in 2003 his memory still lives on every time to money Geeks wonder whether the five-year rule applies to the opening of the account where the date the money goes in, you know, what most of us just called Fun discussions and while William Roth Now holds the distinguished honor of being the Roth IRA namesake That wasn’t what the tax-free Ira plan was originally called So here’s your trivia What was the original name of the Roth IRA? I’ll have your answer right after this What if you two could be balding and own your own podcast production company think that would be too good to be true Well strap on the wow helmet kids because we’re about to introduce you to sacking Benjamin’s in the cat Now you too can create a moderately successful internet radio show from the comfort and privacy of your own mom’s basement That’s right Stacking Benjamins in the cat is the do-it-yourself kit That’s creating tons of Internet fun What’s included? Well Feast your eyes on this kids open up your stacking Benjamins in the can and you’ll see 14 ways to talk about your latest trip to Bavaria 18 of the worst bad dad jokes, you ever heard your own barely relevant holiday calendar a sealed container brimming with the smells of stale basement are and day old Pizza Plus One script chock-full of Segway ideas And because there was still a little room We also shoved in your very own steak brother store All in the care That’s not all think we can’t do better Oh, yes, we can We’ve also thrown in the can five gratuitous references to oh jeez after-school Activity 3 boring tales about how cold it is in Detroit and if you call in now tons of free Sizzler coop How do you get it? You know, that’s not the question to ask Oh go ahead asked us How do I get it in the can here’s the secret to stacking Benjamins in the can just head to your mom’s basement by a microphone and we’ll take care of the rest stacking Benjamins in the can couldn’t be Still not sold what if I told you stacking Benjamins in the can is gluten-free That’s right healthy barely funny and all stuffed into this refillable souvenir container call for yours today operators are standing by no animals were harmed in the making of this recording Welcome back wrothians I’m Jose mom’s neighbor Duggan This Is My Trivia segment So what am I took a page out of this Roth guys book and offered listeners one penalty-free trivia withdraw per year I could but you know, you don’t want to do that You’re great at trivia in this is one You’ve probably got nailed right? So, let’s see before the break I asked you about the original name of the Roth IRA You know before Willie wised up and smartly stuck his own name on it So the answer if you said an IRA you’d be value behalf

Correct? The answer is the Roth IRA was originally called the IRA Plus Seems kind of tame doesn’t it? But remember this was way back when they created the Roth IRA now they totally go for broke and call it like the IRA extreme with an ex or like the IRA Super Deluxe with two x’s What I do know is I just totally Deluxe to this trivia That’s Deluxe with three X’s You’re gonna share this with both your friends aren’t so yeah Ira Plus I didn’t know that for the win now Scott knew it Nope He was I’m trying to decide if that’s a better name though Yeah, I don’t feel like that might be a better name for it Kinda is I mean you look at Canadians, you know and Canada It’s a tfsa Tax-free savings account like how great is that? And we’ve got the Roth IRA Seriously like dude, did you really need your name on that? And do we need to make Finance any more confusing? Come on Imagine if Doug it created it the Doug not good Oh gee, I would put my name on some you totally will put your name on it You totally I don’t I don’t know if Doug would or not Hey, let’s throw out they’ve and Lifeline guys and tackle Some of life’s most important question Our friends at Haven life insurance agency They put what you Value First Scott one of the two things you value most family and Co-hosting It’s very well said yeah sucking up is all right hosting Welcome here Sorry, I forgot about you He’s already got you off the show It’s your loved ones in your time So nice job Very close It’s why they’ve made by quality term life insurance actually simple if you had to stacking Benjamins.com forward slash Haven life now, you’ll get a free quote The application is simple It’s online you get a instant coverage decision fordable prices And of course, they’re backed by MassMutual a more than hundred and sixty year old company today We’re going to throw out the lifeline to our new friend Josh Say hi Josh Hey guys I was wondering what you think about fundraising their ER it Investments little background on me 31 no debt Max up for one can Roth to try and catch up since got professional degree in first started making big boy money about four years ago since that odd jobs before I currently rent in rural areas and front as a little more than property tax would cost if I buy a home and not sure if want to stay in the area So all my investments are in stock market and some form want to have something to real estate to diversify Plus want to save some money for a large down payment on house in the future I started to compiler on 10,000 and fundrise and adding 800 a month fundraise It had good returns, but gains are taxed as income Out of the meat and potatoes of the questions first They claim is a good investment to have an economic downturn to balance out stock Investments Is that true? I just wanted your opinion on the platform and if it sounds right for me, I should just be putting money in normal Our eits lastly is my thinking correct about trying to save by investing for a house first, especially my position since property taxes near equal rent or is by now the best because their appreciation over the years Sorry for the multitude of questions Just trying to actually learn something from the podcast even wrote out this question of attempt to not say anything stupid so fully accomplished that and hopefully the Insight writing out and practicing saying this was worth a t-shirt Thanks so much He is getting a t-shirt So thanks for the question Josh You did nail it nice work Okay, let’s start off with real estate in the portfolio first and let’s do fund rise later How about that Martin? Yes real estate in the portfolio Oh gee Let’s go to behave very similarly to your stock portfolio The difference between a privately-held rate, which is fun drives or any multitude of these other ones or a publicly traded one is the liquidity So my biggest concern was some of the time frames that he listed out in terms of you know, here’s where I want the money available I’m trying to build my Investment Portfolio for this purpose to have a down payment on my house and if it’s privately held The liquidity issue might become an issue I mean it might be that downturn happens and the Reit company goes Yeah, we’re not going to do distributions right now because it’s invested in like a building and they can’t turn around just sell, you know, a couple bathroom couple of the floors of the building Yeah, just to meet your demand So I’d be concerned with I mean, I don’t know what else you’re saving He said eight hundred dollars a month in That specific fund so I don’t know if there’s other monies going other places as well But that’s all we’re saving He said the rest of his money is in the stock market So apparently there’s other cash so he’s yeah as long as he’s got other places to go he can probably write out The liquidity issue could be yeah

Yeah, but the stocks and real estate over long periods of time very similar returns historically the North American re-index and the S&P 500 over long periods of time Those are the two investment classes that have a history of beating the pants off of inflation So those are the two more reliable ones Going with a Reit I like I like a public partly for the reasons that you stated about the private, you know, read or peeling off stuff I also like you know, I mean if you’ve got the time having some rental properties in your portfolio Scott, you’ve you guys have a give a rental property now, we don’t but we plan on we’re doing like a Buy and Hold thing where we’ll buy the property that we just bought will live in it for a while update it upgrade For some appreciation and then once the numbers shake out where the rents covering the mortgage then we move out move move into the next one and we’re planning on doing that Probably rinse and repeat five to seven times I have friends in Texarkana that did that he was fantastic with his hands and she was a phenomenal interior decorator between the two of them the house I have none of those skills, by the way, which is why I don’t do that But the between the two of them just they took these houses and made them all look marvelous and got some nice big markups on that So real estate Josh good as a diversifier Let’s talk about fund rise in particular and we’ll start this off with I have only heard good to moderately good things from people colloquially about fund rise However, Josh you’re probably new to the show So you may not know that fund rise is one of the few companies that we have Pointed to because we haven’t liked the way they advertise their product at all fund rise used to have before we started complaining about it Maybe other people did too They used to say that their product was engineered for Superior results Do you know any product that is a Potentially engineer my Dove soap in my bathroom is designed specifically to do the best job at can Can you imagine a money manager going we’ve engineered this for kind of mediocre poorly engineered for mediocre results And then they had this forward-looking graph by the way that showed the thing just going north Which by the way if this were a stock the Securities and Exchange Commission be all over them because you can’t use forward-looking graphs to explain your mutual fund your exchange-traded fund grows at this rate You’ll be a gazillion are incredible compared to doesn’t grow this rate You’ll be broke Which one do you want gazillion are broke? Yes, so I read I read chart if you want because illionaire sign this in this engineering thing that we did Superior you could tell just by the Picture that we drew see ya the that’s our podcast Just listen to our podcast Our podcast is engineered for Superior Superior results Yes that some of our viewers may say otherwise, but the second thing that we didn’t like or I didn’t like in particular was they just came out this year with what they called an IPO and It was a little I remember this Oh GG like there’s an IPO initial public offering fundrise had one with a little I po and they said oh this is not an initial public offering This is an internet public offering Well, you still use the letters IPO and a lot of people cipo and they think oh and we got questions about it from people going Yeah Fuck it in the fundraise IPO Yes They said I could get in and all they were doing was taking little pieces of their company and selling it to people on the internet in that So the They’re sucked The second thing I didn’t like about it was they said this is the first time anybody’s done this in their press release besides the fact that it was the second time They done it themself They had done it two years earlier There’s people some little pieces of their companies on the internet all the time I mean, you can go to a sandwich shop and talk to the owner Maybe he needs Capital You’re seeing it all the time with with the way that regulations have changed, you know, you go to acre Traders and example, you buy part of a field you can buy little pieces of these things all over the place So yeah, that’s not true And then just a third one then the founder or the CEO of the company compared himself to Warren Buffett Didn’t hear that one Yeah, that was good too Yeah, because everybody knows that we’re actually like Warren Buffett not him So that says nothing though Josh about the company Yeah, the quality of the product says nothing about it I know nothing about it Just when I see those things I can’t in good faith tell you that I liked it

because of all these things that make me go I’m really big on the liquidity piece I mean Joe you were around back in the early 2000s when non-publicly traded real estate was kind of all the hot thing paying really great dividends and as the music started to stop in that Game people started realizing that there was a cost to having that high high high dividend In fact, most of the time people didn’t even read the documents that came with it And then you find out Well, actually we’re paying the dividends based on new money coming in you go Isn’t that kind of like Like a Ponzi scheme like well, yeah, but it’s not in this case because it’s a reach so there’s different rules about what they have to distribute that sort of thing and it became really evident in my career Anyway that liquidity was better than illiquidity for a lot of reasons and you give some stuff up if you go to a publicly-traded Reit and you just type in you know, Vanguard Reit or whatever You might be paying you might be getting I’m sorry 3 or 4% dividend Well, you could go get a privately held Real Estate Investment Trust right now and get nine or ten That’s the trade-off now in the Vanguard one You’re going to get some appreciation and the privately held one Maybe you don’t get as much appreciation So you’re you know, you’re getting your dividend instead of appreciation that sort of thing, but for whatever reason I just have the Sense that being able to rebalance my portfolio or be able to make a change to my portfolio not contingent on other economic factors like oh crap the market took a dump and now we’re not raising any Capital We can’t redeem your shares That doesn’t bother me so much I mean, it doesn’t bother me if it’s a small piece of your portfolio and you know that this that you’re locked in the frustration I always had was people would If they bought a rental house, they would know well, I can’t go sell the bathroom but then they go buy one of these privately-held Investments like no No, I want it out Now It’s the same thing as going out and buying a house Just somebody else is doing it for you You you still can’t have it and I guess buying the property yourself though You can decide to sell the house and hopefully it sells soon enough You can get the money in the next couple months, right, but with somebody else is in charge you can You don’t have that ability But but that still doesn’t bother me that much of it, you know, 10% of your portfolio Whatever Yeah You know anything about fundraise cut I don’t know I don’t have any experience with that, you know coming from some sort of the the fire mentality It’s like all of that sounds like a whole lot of work and you know, low-cost broad-based index funds is just it’s simple it’s easy And then for me, I think you said earlier that your friend had like magic hands or something Like I think Joe I think you can agree on have magic hands to whoa I wasn’t here at the party last night Now I know why you two are a little sleepy I just want to look like a measure Yeah, Magic Hands going on Yeah, but I just really enjoy I enjoy like tangibly changing something at my house and forcing that appreciation and fixing things up and stuff like that So for me, I look at you know buying these houses and and eventually stocking up our real estate portfolio that way as we’re creating cash flow And so it’s liquid in that way that you know, you know once they’re paid off like we’re creating a separate income So for me, it’s like when we’re Diversified, The stocks are sitting there They’re getting their growing and will use them when we need them And then we’re working hard to pay down these houses so that we can generate a cash flow that will cover our expenses And that’s kind of our planet I’d to me it’s like the work in that is really The real estate side which to me sounds like something I’m willing to work on Yeah, exactly and I like the idea of as long as you know, what the return on investment is going to be and that that return is high enough to meet your objective and you know about liquidity leading with stuff that you know makes a lot of sense to me because when things go wrong, you will know why it went wrong Yeah, the biggest frustration I have is when things go wrong and people don’t want to know why it went wrong They just want it out and then they blow up their own And thanks for that question Josh And by the way, Gertrude will send you a code for the greatest money Show on Earth shirt Just got we gotta get you a greatest money show under his shirt I’m waiting for it We totally have to our next question Let’s get back to emptying the mail bag here Looks like we’ve got time for one maybe two more Joseph says he loves the show Just want to touch on something from a recent episode You answered a question about the S&P 500’s returns in the person asking also mentioned the rule of 72 the rule 72 can be proven with simple algebra Joseph says as far as the returns go the arithmetic average might be 10% but that’s not real returns That is where geometric average is come in addressing This might help many listeners understand things a little better No, thanks I actually I get where you’re going Joseph but here’s here’s what I like about the

rule of 72 geometric returns are not something that my brain goes Well that was easier But what does make it easier is you take the interest? So the rule 72 you familiar with this gotten you take the interest rate you think you’re going to get divided into 72 and that tells you how many years Going to take your money to double asterisk about about right but I like the fact that you can very quickly do this on your fingers with your 401k at work and your magic hands as example with my magic hands Yes This is where my magic answer are good at figuring out the rule 72 So let’s say that you’re 25 years old right now and you’ve done a great job of saving and you’ve $10,000 so $10,000 to say you’re going to get an 8% 8 divided into 72 is 9 means every nine years your money’s going to double now at 25 people Look at 10,000 bucks and they go well, that’d be great down payment on a new car right and now I have debt and my 10,000 is gone, but if you really want to look at the opportunity You take that 10,000 you take your magic Han and you go Well, that’s not really 10 grand If I save it for financial Independence because nine years from now so at 34 it’s going to double it will double again at 43 at 52 If I don’t spend it Let’s say I’m gonna wait till 60 61 so that money if you want more 670 Okay, let’s go Let’s go crazy Well, we won’t spend that money till 75 times So that’s not 10 And in future dollars using all five of my fingers, it’s 20 the first time it doubles the second time then it’s 40 its 80,000 It’s a hundred and sixty thousand and oh geez point if you let it sit there till 70 you’re looking at three hundred and twenty thousand dollars versus $10,000 down payment for 50 a month for the next and alone Yes, big big change so which would you rather have three hundred twenty thousand nine eleven he was talking about The forest pretty sweet Yeah, the new one I’ve got this I’ve got the sound on my phone you do Yeah, it’s got the sound on his mouth He is you don’t even need the sun I remember those days the mouth sound days Oh, that’s crazy those long time ago It’s probably a lot of people that remember the drum I know that you’re all my I know what your time I need you to remember the drama Yes Are you going to do it? No Oh, okay your side All right Sorry something Scott I thought because Scott’s here you did you can do Yeah, I guess I’ll settle for a t-shirt That’s a that’s a close second Let’s do one more guys Let’s get crazy This question comes to us from Rob You talk about Market timing a lot in responses to questions Generally we talked about it today generally speaking We should have all our money in the market right away, right I ask because I hear oh geez Date, he says 327 2018 episode best thing you can do in the markets down 20% is backed up the truck But how do we do that? If our money’s already invested in the market the implication is you money sitting on the sidelines, isn’t that just Market timing? I would say that what I mean by that is maybe that’s the time to make a change to your cash Reserve, you know cash Reserve emergency fund is there for two reasons emergencies but also for opportunities, so if you’ve got a really strong cash Reserve position, maybe you have 12 months of expenses and you see pay the markets down 20% I’m not trying to time it on purpose but I have 60 grand in cash I can get by with 30 grand in cash because that’s still an Quick, you know emergency fund Now’s the Time to put that 30,000 in or if you’re going to say well I was going to do you know $500 a month into my Roth, but it’s January of 2019 The market just came off of – 20 I’ve got the money set aside to do 500 a month instead I’m just going to do all six thousand right now But is that still Market timing because because the market just went down so you’re trying to take advantage of it still Market timing sure is yeah absolutely but it’s from the perspective of I wasn’t trying to do it It just opportunistically appeared before sale appeared Yeah I mean, it’s I wouldn’t go out of my way to try to wait for it We were just talking about this a few seconds ago It’s like I’m not going to sit there with cash on the sidelines going Well, I think it’s 3,000 It might come down I’ll just wait it just so happens that I’ve got my money saved for my solo 401k Now I can put that in for the next year like everybody else does or holy crap I look up and dang the markets down 20% I’ll just do it All right now Yeah, it’s that’s a great time too And not just that Rob It’s also think about increasing your savings during that time period like hey, is there a place where we can maybe save more? Maybe maybe you can save even if it’s not long-term just for the next few months save a little bit more money You can also if your risk tolerance accepts it you could take more risk with your Investments and Notch it into high gear That’s another way to take money from a conservative section of your portfolio to

little bit more aggressive Yeah potential I think about it from the like the Warren Buffett comment right the be greedy when others are fearful and fearful when others are greedy You know when everybody’s freaking out like you just kind of have to go what else could I do right now? It’s no different than people opportunistically looking in areas, you know, we’re talking about fund rise while roof stocks and other company that comes up from time to time their whole business model is opportunistically finding single-family rentals in areas that haven’t blown up yet, you know, Memphis or Jacksonville or Detroit or you don’t see a lot of rough stock places in Silicon Valley where you know, they’re just They’re not there because that appreciations already going on So if you’re an investor in that space you wouldn’t be looking at Manhattan penthouse is right now probably you might be if you are the stacking Benjamins.com /ng, but but but no, I mean, you know, it’s the same thing if you’re if you’re ready to invest money, you got a gift from your grandparents for Christmas and you’re going well Can I put this in Dollar cost averaging intercept lump-sum it in maybe you would normally put it in over the course of a you know Six months and you go has down 20% and the thing that frustrates me though rub that as we talk about this is if you do put in money from your emergency fund, if you do not touch up your risk tolerance that there’s no guarantee that this isn’t a longer-term downturn like like don’t think this is easy money It still is the market and the market can do whatever the markets going to do The frustration for me as you were talking earlier Scott about asking jail Collins about should we wait on the market? The frustration is is that in the back of your head what that implies is when it comes down It’s going to go right back up again, and we didn’t see that 2000 to 2002 We didn’t see it We didn’t see, you know Market started sliding again 2007 We didn’t see that for what 18 months almost two years before the market started coming back again So when you decide to make those moves don’t think it’s a short-term thing the market should always be I think a long-term thing Aren’t you excited? When you start your podcast that that you’ll people calling you out like OG just got called up Yeah, like specific to the episode That was it’s good I was ruthless We’ve got awesome listeners man Yeah that getting called out or was that clarification? Oh you were getting a you read it as called out get caught That’s her I did put a little stank on it Yeah Listen, right Rob’s like I didn’t mean it that way at all Joe Yeah I think that’s going to do it for today guys Scott Thanks a ton for hanging out with us again in the basement Yeah, thanks for having me Really appreciate it This is a lot of fun so you’re not hired by the way Not only that only do you have the film which is theaters everywhere people can go to playing with fired CEO will have that in the show notes page at stacking Benjamins.com if you’re walking the dog, but you also have a book that is apparently on a similar topic Yeah Yeah similar Yeah Yeah and it’s available on Amazon And it enjoys I think a four point four star rating So it’s not terrible Nice I’ve heard it’s a pretty easy read Like a takes about two to four hours to get through it depending on how excited you are my whole goal with my project is to try to create an entry point to the fire movement and financial literacy because I was I was really I was a moron, you know, I just did I did not know what was going on and I when I found all this I became enlightened in my life changed for the better And so that’s kind of the approach we take so if you do buy my book, please don’t expect to get these incredible lessons down-to-the-wire, you know, just like that book that you had last night That was like The over yeah the overproduced Yeah Yeah Churchill beautiful card table or whatever book coffee table coffee table Yeah, the coffee table book with with 1600 graphs in it Like that’s not what you don’t have that here We have not done enough Yeah, so please don’t buy the book if that’s what you’re looking for But I will tell you that I love seeing your story change lives We have a friend that we both met last night named Kathy who said she started on her journey because she read your book that’s got to feel good Yeah II Duce pumps after I heard that as incredible because that’s that is what we’re trying to do We’re just trying to get people on the right path and help them feel better about their life and less stressed and all that So we thought maybe if we do that through the emotional Arc of our journey, you know, we’d be willing to share that if it if it was beneficial It’s really validating to see that happen some day Oh gee we might help somebody someday through a beneficial Arc This might be the year That wording is that I’m still drunk That was quite a party Like I hope I have a beneficial Arc one day Yes Did I say beneficial Arc have be tragic? I think I think I said no, I think I said emotional Arc deny

I don’t know I wasn’t listening Okay open about it Arc and water and melt much animals Magic Hands I think that though we’re gonna we’re gonna we’re gonna pull the plug on this one Doug Take it from here man What should we have learned today? You know what Joe I’m gonna do exactly that So here goes first take some advice from the guys buying a car making a smart purchase means fitting it inside of your budget so you can focus on those things You really care about the not just a sweet ride, like my El Camino if your El Camino is your favorite purchase awesome go crazy, but if not save some room for the real things you care about second if you’re looking for an item Yourself? When is the best time to shop for this if you can get past the should I be shopping for this thing at all? Well, maybe there’s a better time to buy than right Now your wallet will thank you, but the big lesson don’t let Scott richens have the remote control that guy’s all about documentaries documentaries and more documentaries No, I don’t want to watch some butterflies mating against God Holy cow Somebody rescue me from this kid Oh, no Guess I’ll take that back throwing some popcorn I’ll be right over there Scott Special thanks to Scott richens You can find more from Scott and playing with fire at the film’s website playing with fire dot CEO or through our show notes page at stacking Benjamins.com This show was created by Joe salsa High produced by Richie Rudder reefs and engineered by the amazing Steve Stewart online visit us at Twitter @ @s Benjamin’s cast or on our Facebook page I’m Jose mom’s neighbor Duggan I’ve wondering if KY Jelly is actually made in Kentucky SBI Podcast May receive payment on the show from sponsors and guests in the form of books giveaway items discounts or other remuneration There’s no way you would take advice from these dorks But like Joe’s mom always says don’t take advice from people You don’t know this show is for entertainment purposes Only and before making any Financial moves consult with a real financial advisor Welcome to the after show Scott This is the part of the show That doesn’t exist What happens in the after show stays in the after show So We don’t we don’t talk about it Woohoo I had I had was Becca 50 people 50 people send this this headline to me and everybody said they’re like this reminded me of something that you guys should talk about on your show Okay So apparently we have reputation about this stuff and this is comes to us from the Atlanta Journal-Constitution, yeah drivers begin to return money after hundred and seventy-five thousand dollar cash storm on I-285 Did you see this? weird things is spilled onto Atlanta’s interstates before foam tomahawks produce and a whole mess of livestock to name a few but no spills been as lucrative as the one on I 285 after you Tuesday’s ago an armored truck driving in the westbound Lanes near Ashford done Way Road, when a side door flew open releasing its contents onto the under the interstate cash and plenty of it scattered all over the road Typically a spill on an interstate would be cause for consternation and likely stop traffic for a few hours this time though drivers stopped willingly It’s everybody wants to help out One video showed at least a half dozen cars parked on the shoulder as drivers grabbed at the Flying pills Cash on the interstate would you stop and pick it up? Like you’ve got cash all over the interstate Would you stop I mean that’s such a surreal moment It’s a state troopers worst nightmare, but if traffic has stopped behind me, like of course, I’m backing up

I’m hitting reverse But statistics on getting out of your car at all on a major freeways you’re gonna die So is it worth that is rabbits and Cassius 100% the stat Yeah, is it weird crime crash? I don’t know I don’t know We had the same thing Mitchell as I say we had the same thing happen in Dallas similar story probably about a year ago and the story that came after this was PS We have all of you on film Please return the cash like it’s not yours And because the cops were there no time You know what they can’t Corral 40 people running around the highway trying to pick up loose bills my luck It would be all like singles be like, you know, like a nightly pick up for like a strip club or something that my womb you know what I’m risking life and limb for $11, right I wonder how that works It’s not illegal to pick up a dollar that’s flying around in public It turns out it is I was gonna say I think I think since you know where it came from It’s not yours police are asking all the drivers who took advantage of the isolated cash storm They’re calling it has a nice Yes Did you get can you see the weather map? We’ve got scattered thundershowers over here and isolated cash storm on 285 those who took the cash could be charged with theft of loss or mislead property, which is only a misdemeanor though under Georgia law if the property is valued under 1500 beyond that threshold It’s a felony and punishments are The serious the laws the law Dunwoody Police spokesman Sergeant Robert Parsons told AJ see.com you need to turn in the property doesn’t belong to you reality needs to kick in you need to realize this money belongs to somebody Yeah Yeah, I think it’s because you you know, if you’re walking down the street and here comes a $5 bill You can pick it up if it’s a five dollar bill in the person’s running after it going Hey, can you help me? I dropped my purse and you’re like it Finders Keepers, you know, I think that turns you into an apple Sure Yeah, you know and this because you know, it came from something that’s not yours Emo Philips The comedian has a joke about this He said, you know you find a wallet in the park So we His wallet in the park and its got like five hundred dollars in he said then I thought to myself if I’d lost my wallet in the park What would I want to have happened? And then my brain said I’d want to be taught a lesson joint Eric writes to us and says once pre-tax 401K is maxed out What are the risks to contributing to after-tax 401ks Nothing, literally what the other is lit, there’s nothing funny about almost dying But but that was hilarious hilarious you all right? Like I’m literally took a drink and I was like this is going in the wrong place could be you ready you okay? Yeah Sure

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