I LOVE THIS PODCAST! You bring the numbers, keep it real, and never try to fear-monger or clickbait. I loved that bit about how some of the most money savvy people are optimists. I'm a self-proclaimed, glass-half-full kinda gall. That's why I was able to buy my first home this year. This channel literally makes me smarter and more rich. I love the Money Guy Show Team! Thank you!!!
Also, while watching this, I went to check my Fidelity account and saw they had a small promo if you open and fund an IRA. So I did!! I still don't totally understand all the ins and outs. But I funded it to get the free cash promo, and I'll watch more on this channel to understand it better and read up on it. I am 30 years old, just bought my first home. I have a 401k (with match) and an HSA. Can I say I'm now a financial mutant? 😂🎉❤ This feels responsible, risky, and fun at the same time. Thank you Money Guy Show!
Gotta love what Howard Marks said about being an optimist even in a down market...either you believe there will be a recovery that you don't want to miss, or it will go to zero, and if that happens our investments will be the least of our problems....
This is Brian Y from the last question. Thanks for answering my question! Name has been updated to LoopHole Mcgee as requested by Bo and Rebie! And also, I am actually maxing out the pretax 401k, Backdoor Roth IRA and Mega Backdoor Roth 401k. I’ve become the guy some coworkers ask for advice on company benefits and finances and have been recommending the Mega Backdoor Roth 401k instead of the backdoor Roth IRA to those who don’t want to do both. Was wondering if this was right, and you definitely answered that!
This question was interesting as I had something similar. I just started in my employer Roth 401k, and it has a low cost s&p index fund option, which I chose. I started wondering if it made sense to open a roth ira down the road if I was just going to choose a similar index. In the IRA, I'd probably opt for more diversity so it is probably still worth it, but I could see how decent options in the roth 401k could negate the need for the roth ira.
Thanks for answering my question! Do I still get a free tumbler? :) I have been reading up on investing these past few months and absorbing all the money guys content I can. Assigning probability that index funds are the most likely to grow over time vs other avenues is a good way to think about it.
30:27 with Jim’s question Bo assumes that they are value assets. I.e. ones that you have to sell to get the value out this is not the case with dividend paying assets. When the market went down 25% the dividend percentage increased to account for the drop in the stock value, mice, dividend, payout did not change throughout Covid.
LOVE the show!! Y’all ROCK!! Could I just offer one bit of feedback on the updated look and feel and such? I would suggest dropping the “Money Guy team…out!” line at the end. It’s a little corny/cringy, and I feel like y’all could come up with a much better way to end each episode, whether that’s a consistent line or just ending it with a consistent message that’s stated in a different way each time. I just feel like the line y’all are using now is suboptimal. Again though, y’all are awesome. Please keep delivering that valuable content.
I invested a significant sum into my son's college fund during the bear market. Everyone I told called me a doofus. It went down by about 20%. After the recovery, that fund is up an overall 30% from where it started. I invested this money about three years ago.
Wow, that first question 20:14 is what I beat myself up about every day. I'm glad I'm not alone. I understand the rationale, I live in CT, I have a German Shepherd (she's a good girl), my salary is $56,327. Just doing a roth ira without my employer's match is over 10%, throw in another 5% match, then the HSA, THEN max out the 401k at like 20k. I cant live off of rice and beans for the rest of my life. Thanks for the kind words, bo. I never feel like I'm doing enough.
My opinion is 1. Employer match, 2. Max out Roth and 3. Taxable brokerage before the 401K. Non Roth 401K turns long term capital gains into ordinary income.
Come on Bo, stick with your initial statement! Yes, they're bad at math! HAHA! I know people still paying down a 2.25% mortgage and they're 40 and younger! They have more peace of mind having a mortgage free life with little investments vs having a super large portfolio and a low interest mortgage. I don't get why people let emotion creep in finances when the math is so overhwlemingly in their favor!
Is an HSA worth investing in if a medical sharing type plan would cost significantly less than the employer-provided high deductible plan, like a hdhp that costs 20k+ yearly for the employee premiums portion?
My question here is what would be significantly less? But $20k a year is super high for a HDHP if it’s coming from an employer. The way I would look at this is to see the marginal tax bracket you’re in to see the tax savings from a HDHP. Would make an assumption on how much that would grow (8-10% a year until retirement lets say at age 67, or whenever you’ll need the medical expenses) and multiply that by 15% for capital gains. Would the capital gains + the tax savings make up for the lower cost of the medical sharing plan? Does this 20k also include the amount you spend at the doctor? My guess here is that it would probably be more worth it to get the medical sharing type plan, but this is so plan and your health specific that it’s hard to give proper advice here.
Backward looking data shows that DCA-ing every other week on Tue or Wed has historically provided the best returns. If you can set that up automatically, it doesn’t become a burden to do that.
Other than “people changing well-established definitions,” there’s no “maybe/probably” about it. We’ve gained over 20% from the bottom, so technically yes we are in a new bull market. (Although the definition of a recession got changed last year too, so feel free to ignore me).
Should I watch this? or are you guys going to remove it while I’m in the middle of the video as happens every week? Love the content though, keep it up, thanks
Time in the market beats timing the market. Thank god for money guy show. My fmily will be able to retire and we will build gneerational wealth. THANK YOU!!!!
Shouldn't we be discussing market valuations here using proven historical indicators (such as the buffet indicator)? THERE IS NO QUESTION THAT THE MARKETS ARE INCREDIBLY OVER-PRICED.
Not if you HAVE A CASH bucket. Let's use our brains here. The money you're sending isn't looking in losses. Reload your CASH bucket when your investments are UP. Always timing there too I guess......
@@RR-jk3rl yes it's timing. you won't know how long the bear market will last. if you did then you could avoid the bear market on accumulation phase and it's no different in retirement. also if you think a bit deeper, the cash bucket is market timing too. at any point in time you have decided to sell your portfolio to that cash bucket value, rather than invest.
I LOVE THIS PODCAST! You bring the numbers, keep it real, and never try to fear-monger or clickbait. I loved that bit about how some of the most money savvy people are optimists. I'm a self-proclaimed, glass-half-full kinda gall. That's why I was able to buy my first home this year. This channel literally makes me smarter and more rich. I love the Money Guy Show Team! Thank you!!!
Also, while watching this, I went to check my Fidelity account and saw they had a small promo if you open and fund an IRA. So I did!! I still don't totally understand all the ins and outs. But I funded it to get the free cash promo, and I'll watch more on this channel to understand it better and read up on it. I am 30 years old, just bought my first home. I have a 401k (with match) and an HSA. Can I say I'm now a financial mutant? 😂🎉❤ This feels responsible, risky, and fun at the same time. Thank you Money Guy Show!
I went hard into Nasdaq-100 index at the end of 2022 and have been rolling in gains. Trust the process
Gotta love what Howard Marks said about being an optimist even in a down market...either you believe there will be a recovery that you don't want to miss, or it will go to zero, and if that happens our investments will be the least of our problems....
Is bo ever not excited? Lol
😂
Just like money guy is always out by the end, Bo is always excited at the beginning. 🎉
Along with FOO and Army of Dollar Bills, it’s what we’ve come to expect in every episode.
becaaassss
The mans loves his job
This is Brian Y from the last question. Thanks for answering my question! Name has been updated to LoopHole Mcgee as requested by Bo and Rebie! And also, I am actually maxing out the pretax 401k, Backdoor Roth IRA and Mega Backdoor Roth 401k. I’ve become the guy some coworkers ask for advice on company benefits and finances and have been recommending the Mega Backdoor Roth 401k instead of the backdoor Roth IRA to those who don’t want to do both. Was wondering if this was right, and you definitely answered that!
This question was interesting as I had something similar. I just started in my employer Roth 401k, and it has a low cost s&p index fund option, which I chose. I started wondering if it made sense to open a roth ira down the road if I was just going to choose a similar index. In the IRA, I'd probably opt for more diversity so it is probably still worth it, but I could see how decent options in the roth 401k could negate the need for the roth ira.
Thanks for answering my question! Do I still get a free tumbler? :) I have been reading up on investing these past few months and absorbing all the money guys content I can. Assigning probability that index funds are the most likely to grow over time vs other avenues is a good way to think about it.
30:27 with Jim’s question Bo assumes that they are value assets. I.e. ones that you have to sell to get the value out this is not the case with dividend paying assets. When the market went down 25% the dividend percentage increased to account for the drop in the stock value, mice, dividend, payout did not change throughout Covid.
So is FOOd (financial order of operation details) the new acronym for new listeners that need to get more information?
"ABB ... always be buying"
LOVE the show!! Y’all ROCK!!
Could I just offer one bit of feedback on the updated look and feel and such? I would suggest dropping the “Money Guy team…out!” line at the end. It’s a little corny/cringy, and I feel like y’all could come up with a much better way to end each episode, whether that’s a consistent line or just ending it with a consistent message that’s stated in a different way each time. I just feel like the line y’all are using now is suboptimal.
Again though, y’all are awesome. Please keep delivering that valuable content.
I invested a significant sum into my son's college fund during the bear market. Everyone I told called me a doofus. It went down by about 20%. After the recovery, that fund is up an overall 30% from where it started. I invested this money about three years ago.
Wow, that first question 20:14 is what I beat myself up about every day. I'm glad I'm not alone. I understand the rationale, I live in CT, I have a German Shepherd (she's a good girl), my salary is $56,327. Just doing a roth ira without my employer's match is over 10%, throw in another 5% match, then the HSA, THEN max out the 401k at like 20k. I cant live off of rice and beans for the rest of my life. Thanks for the kind words, bo. I never feel like I'm doing enough.
I hear ya. Sometimes, it feels impossible. Just keep doing what you're doing. You're doing great and have the right attitude.
Ok. Wasn’t there a live show this week (July 23-29)? If so, why isn’t it available?
My opinion is 1. Employer match, 2. Max out Roth and 3. Taxable brokerage before the 401K. Non Roth 401K turns long term capital gains into ordinary income.
Phenomenal episode.
Love this show!❤️❤️❤️❤️
So when interest rates are 30% markets will be fine?
You say when as if it’s certain. And just like that is not certain, the market being fine is also not uncertain.
The real question of the day is, Is Bo excited for this episode though?
@moneyguyshow, can you tell me should I buy my first house or pay off my 15k student loans (4% interest rate) first? It’s my only debt.
Follow the FOO!
Come on Bo, stick with your initial statement! Yes, they're bad at math! HAHA! I know people still paying down a 2.25% mortgage and they're 40 and younger! They have more peace of mind having a mortgage free life with little investments vs having a super large portfolio and a low interest mortgage. I don't get why people let emotion creep in finances when the math is so overhwlemingly in their favor!
im 24 fresh out of the military in a good career but it doesn't seem like a good time to buy a house. wjat do you think?
Is an HSA worth investing in if a medical sharing type plan would cost significantly less than the employer-provided high deductible plan, like a hdhp that costs 20k+ yearly for the employee premiums portion?
My question here is what would be significantly less? But $20k a year is super high for a HDHP if it’s coming from an employer. The way I would look at this is to see the marginal tax bracket you’re in to see the tax savings from a HDHP. Would make an assumption on how much that would grow (8-10% a year until retirement lets say at age 67, or whenever you’ll need the medical expenses) and multiply that by 15% for capital gains. Would the capital gains + the tax savings make up for the lower cost of the medical sharing plan? Does this 20k also include the amount you spend at the doctor? My guess here is that it would probably be more worth it to get the medical sharing type plan, but this is so plan and your health specific that it’s hard to give proper advice here.
First, pick the best coverage choice for your family. Then, if your plan is HSA eligible, fund an HSA.
Just found this channel a few days ago & I love it! 😁
Backward looking data shows that DCA-ing every other week on Tue or Wed has historically provided the best returns. If you can set that up automatically, it doesn’t become a burden to do that.
Suave shampoo? My dinner is a tin of Sardines with a slice of toast to keep my savings rate at the Brian/Bo level.
One thing I would tell my younger self would be , put as much as possible in Roth! And that you haven't lost anything until you actually sell it.
Love it, love it, love it.
Other than “people changing well-established definitions,” there’s no “maybe/probably” about it. We’ve gained over 20% from the bottom, so technically yes we are in a new bull market. (Although the definition of a recession got changed last year too, so feel free to ignore me).
Would love for your graphs to have a Y-axis at 0 (e.g. at 6:40) I get you are trying to emphasize the growth but it is a bit misleading.
Should I watch this? or are you guys going to remove it while I’m in the middle of the video as happens every week?
Love the content though, keep it up, thanks
First to comment woohoo! Great show as always
Wasn’t the bottom six months ago?
My question is Can you work on step 1-4 all at one time?
You can do anything you put your mind to, but, what you're suggesting is probably not optimal.
@@borderpatrolnpI agree. The idea is that these are in order of urgency, so doing them in order should be most efficient.
Time in the market beats timing the market. Thank god for money guy show. My fmily will be able to retire and we will build gneerational wealth. THANK YOU!!!!
If it's an episode of "The Money Guy" but yet the Money Guy isn't there is it still "The Money Guy"?
Becaaassss
I will invest an extra $10 for every voice crack I hear from one of the hosts.
❤❤❤
I haven't even watched this yet but the markets been hot all year. Sure seems like it has 25% to drop from here
I appreciate your jokes Bo😂
Shouldn't we be discussing market valuations here using proven historical indicators (such as the buffet indicator)? THERE IS NO QUESTION THAT THE MARKETS ARE INCREDIBLY OVER-PRICED.
abb
Spending cash in retirement during a bear market is just trying to time the market in disguise!
Not if you HAVE A CASH bucket. Let's use our brains here. The money you're sending isn't looking in losses. Reload your CASH bucket when your investments are UP. Always timing there too I guess......
@@RR-jk3rl yes it's timing. you won't know how long the bear market will last. if you did then you could avoid the bear market on accumulation phase and it's no different in retirement. also if you think a bit deeper, the cash bucket is market timing too. at any point in time you have decided to sell your portfolio to that cash bucket value, rather than invest.
Yep times article, hilarious the talking heads
You can't know. Why even try to talk intelligently about where things are going. Sad.
He doesn't, but what we all have is access to see past performance and looking at downturns along with their recovery. 👀
Yup, all my money is in my mattress, if you can't sleep on it it's doesn't exist.
@@RR-jk3rl so you think the past is predictive of the future? Wonder why they are required to say "past performance is not....
@@28jonmark Nobody said they can predict the future. There is inherent RISK with leaving your house. SMH....
Ok. Wasn’t there a live show this week (July 23-29)? If so, why isn’t it available?