Side Business Boom

Listener that stands out the network with recently with his older couple that was interested in refinancing eight reached out to a few different lenders in the other credit wasn't the best.

I know some of these other bigger banks. You just won't hear back from that which I cannot stand not everybody has the 780 credit scores and never had any hardships in their life. I'll walk you through what you have to do.

How can you end up being able to do this refinance. Whether it's 236 months from now back that older couple.

We work with them for months and months to improve their credit and we were able to get the loan done. We were saving them hundreds each month thousands of dollars a year.

Finally got themselves into a situation financially that they can handle and they can start saving money each month, saving for retirement at the end of the day they just could not be happier. Which just put a huge smile on my face.

We might go the side hustler business, a surprising number of Americans are found ways to bring in extra cash and a lot more room that was well underway shutdowns and the pandemic seems to only have increased our desire to make money on the side talk about that trend first. Today is on to your calls at 800-525-7000 800-525-7000. This is moneywise lot wisdom financial decisions. Okay, so the numbers going out of survey by the tech company. Xavier really are amazing. They pulled 2000 Americans and found that one in three have already started some type of side venture and another 25% plan to start one in the next year. How about half of the folks setting up something on the side using a business model. They hope will someday generate passive income, probably to a great extent through online products or service sales. Another third of those surveyed were simply looking to create another income stream 25% were doing it for a specific goal like paying off student loans and almost that many were doing it to fund a specific purchase such as buying a house.

So if you're considering setting up a side venture of some guide. Here are some of the best practices you could say that can save you some trouble down the road since rules and attitudes toward side ventures vary from company to company, you should crack open your employee handbook to find out what is an perhaps more importantly, what isn't allowed you especially want to look for references to conflict of interest. These would prohibit you from engaging in any activity that would affect your employer's bottom line.

It may also require you to report any possible interest. Another item to look for the employee handbook is a noncompete or what's called the restraint of trade statement. Obviously, this would prohibit you from doing work similar to that of your employer also dig back through the paperwork you signed at the time you are hired. If you haven't, you may have actually signed something with a conflict of interest or noncompete clause or maybe just a general statement that you agree to follow the provisions of the employee handbook. So start there now after you've done all that and determined that your side gig is allowed. It's a good idea to tell your employer about it anyway, even if you're not required to that.

This just demonstrates good faith and transparency is far preferable to your boss finding out from someone else and bringing it up when you're not expecting it, perhaps even seeing it online. During that discussion make it clear that you will be using company time or resources for your side gig and that you understand the importance of keeping it that way but talk is cheap as they say it's not enough to just tell your employer you're not keeping your job inside business separate separate you need to demonstrate that commitment by continuing to perform well for your employer. Of course that Colossians 323 tells us whatever you do work heartily as for the Lord, not for men, so you must give not only your time, but your full attention to your day job during your normal work hours.

This may become more of a challenge as your side business starts to make money. It's new and exciting and just a natural tendency is to put more of your effort and interest there there for, leading to less time available for your day job. But it's not only dishonest to shortchange your current employer. It's foolish your full-time job is paying the bills and funding. In most cases your startup side gig. So don't do anything to jeopardize your primary income stream to make this work, you'll need to set some boundaries first between your job and your side business, but then also between work and your family or home life. You can't work all the time and you should carve out time for your loved ones and for rest and relaxation. I would also encourage you to set one more very important boundary and that is to keep the Sabbath to the best of your ability to recognize sometimes working on Sunday is unavoidable because your employer requires that but you don't have to required of yourself when starting a side business.

I would just encourage you keep the Sabbath holy and worship the Lord.

It's interesting that Wilbur and Orville Wright. You know those names in a desperate race with other inventors to be the first to fly never worked.

On Sunday we know the Lord bless that decision by the way their building and testing of airplanes listener. This is one of the greatest research and development programs in history.

It was a side venture for the Wright brothers their real job if you will was making and selling bicycles.

Maybe that'll inspire you. Well, there are some best practices to help you get your side gig off the ground and I hope you find your calls or text 800-525-7000 called the number 24, seven, 800-525-7000. This is moneywise live biblical wisdom nor financial nebula, along with us today for moneywise live on the post as we mind the Scriptures and pull out the principles from God's word by the way there's 2350 persons that deal with money and possessions, our date. My good friend actually went through and with a small group of men found them all.

They literally spent weeks and weeks pouring through the Bible, each taking a section cutting them out with the scissors stacking them up by categories in 2350 verses later we had our number so let's just say there's a lot in God's word about this topic. I believe I believe the reason there's so much is because money is often the primary competitor to Lordship in our lives. If something is going to compete for first position in our lives other than the Lord. It's going to be money in the things that money can buy. Member read it right in the Bible.

You cannot serve God and mammon or money. Why are those two things put alongside each other. I believe it's for that reason, but we can break the power of money in our lives by being generous, holding what we have, loosely recognizing God owns it all and were stewards that one understanding will change everything about how we handle what is truly God's money and we want to find his wisdom today for the decisions and choices you're making your financial life and we want to do it together. We got some lines open today for whatever is on your mind. Give us a call 800-525-7000. Again, the number 800-525-7000. Leslie and South Carolina were coming your way. Just a multiplet but will begin today in Sorrento, Florida, Michael, thank you for calling. If you don't mind me asking where is Sorrento yes hi Rob, thank you, Michael.

I'm just north west of Orlando be okay near a town called Stanford which had been in the I have a friend who is a funny code library to admit and use of fiduciary and 303 and maybe for five more years of retirement. In our discussion because I have the majority of my money in a 401(k) holy.

He was discussing about using it service withdrawal to put the money into an IRA to get a qualified IRA and yet that way he can control it.

We can't do anything when it's in the 401(k) with your take on the wisdom of doing an in-service withdrawal, and quickly. With that in the so I over 59 1/2 mother Wendy Cox consequence, I guess.

Anyway, if it qualify correct. Well that's right means you with an in-service withdrawal which is you correctly pointed out to me. This is when you take a distribution from an employee sponsored qualified retirement plan such as a 401(k) without leaving the company, which is typically when you would roll that out. If you're not 59 1/2. It may incur that tax penalty year. Of course, 63, so that doesn't apply, and there are special considerations that would allow you to miss that penalty even at a younger age of $10,000 for the purchase of your first home. If you have a hardship and extreme financial need. So at the other first thing though is that not every retirement plan allows these in-service withdrawals, but most of them do, and then the question you're the main question I would ask is why are you doing it is.

It just so we can open up the investment options are you not happy with the limited options in the 401(k) or what's the main driver behind it. Michael your programs often. I mostly been in my own retirement and you and I was really consider the wisdom of using a financial advisor with taxes and arrow pointing or the entire and so I that I have someone that have known for quite a while and that's something that I think he's recommending and I just a little a little hesitant to do that to move that money out.

Currently, most of it out today doesn't have very limited core funds.

I have a self-directed brokerage account but I'm taken advantage of or I can move it over to blessing TD Ameritrade and I can get Craig open stock split and I just don't understand the benefit, or if I could really be a detriment to you that money out text IRA. I see I'm in the main benefit. Assuming number one. The plan allows it. Number two.

There are no tax consequences because it's qualified to counter qualified accounts and you need to check on that. To be sure because like I say, only you know there's about 30% of employer-sponsored plans in the US that don't offer this option. So you want to check but the main benefit would just be you, take the blinders off, if you will. Right now you only have access to those limited options in terms of mutual funds. You said you have a trading option I be a little leery of that if you don't have the time and the expertise to make those buy and sell decisions on individual stocks. But then if you get it out and get it over to the investment advisor and he or she then has the unlimited investment universe to choose from.

Every stock, bond, mutual fund exchange traded fund through an individual retirement account, then clearly you know there's more opportunity to tailor a portfolio to your needs without the typical 401(k) should have no plenty of high quality options that really cover the bases and give you what you need and if it's been performing well you know you may not want to disrupt that you may just want to have the conversation with him about you when you retire you want to know who you're going to use so that when you roll it out to IRA than you know. He can take over but whether it makes sense to go and do that now I think is up to you as long as there's no tax consequences in your plan allows it. I certainly don't have a problem with it as long as you feel like this is a you know somebody that you're ready to do business with and you've done your due diligence and discovery and you know I would probably start with a portion of it, just over the next several years. As you're still working to see how it goes and get to know him and his process and see what the returns look like so that that perhaps could give you the peace of mind and when you retire to go unroll the balance of it over or make another decision if it's not been working well for you.

So as long as you check it out of the tax consequences in the plan allows it. I think it's not a bad idea. As long as you're ready to make the decision that he's the one to manage at least a portion of the accounts and make sense yes it and I appreciate that not an affiliate bad idea, but it made no not the best idea is to guide it into the day, it's up to you whether you're ready to delegate and if it's been performing well where it said, you may not want to disrupt that. But if you say I'm I think I'm ready to delegate and this might be step one of ultimately this individual having your whole retirement. You know, access, error portfolio guilt. I think this would print be a logical first step in entrusting a portion of it to this individual so that over the next several years, you could come to test the waters if you will soak. I appreciate your call today. I don't have a problem with this.

I think it's really about. Are you ready to delegate and is this the person for you and Michael.

We appreciate your listening and calling today, very, very much you know of folks this is it's a tough decision. You know when you've spent your whole working life amassing your retirement assets. You've worked hard limited your lifestyle you been saving diligently build up to a sizable nest egg and now you're looking to just hand it over to somebody. I realize I can be ghetto difficult decision and yet I think having wise counsel a professional and expert can help is really hey, we've got slides open at 800-525-7000 more of your questions just around the corner.

Thanks for joining us in moneywise live biblical nor financial decisions.

I am Rob Wester host we got some blinds open today. What's on your mind what you want to talk about related to God's money.

The decisions and choices you're making. We'd love to hear from you. This is a call-in program which means we've got to have callers in order to do the program. Good news is we have some great calls lined up but I've got some wines for you, so here's the number 800-525-7000 800-525-7000 before we talk to us God in Grand Rapids and Leslie in South Carolina about identity protection money just to mention it. I talked to the last color before the break, about hiring a professional advisor. In his case, a money manager near we often talk about the certified kingdom advisor designation on this program and these are not men and women who work for moneywise today simply have earned what I believe are the gold standard industry designation for professionals who are specially trained to bring biblically wise financial advice.

How do we know that well they first met high standards to earn the CK a designation. In addition to at least 10 years in the business and having another professional designation like CPA or CFP or CFA that they also have to go through university-based course to learn how to apply God's word to professional financial decision-making.

It's a 50 hour course said to one of two leading Christian universities involves a proctored exam nationally.

But in addition to that they have decided statement of faith. The code of ethics of pastor reference to client references. There are a whole host of things, not to mention the regulatory review that's done before they earn it and then all that happens again.

Every year, in addition to 10 hours of continuing education.

So these men and women 1500 of them around the country really have done some hard work to be able to call themselves certified kingdom advisor which gives us peace of mind that that you're going to have someone who can really give you advice and a professional level that aligns with your values and priorities as a Christian, how you find one of these folks will discover to our website moneywise live.org and click find a CK.

Let's head back to the fund by the way against blinds open 800-525-7000. Leslie is in South Carolina.

Leslie, thank you for your patience, your next up on the program. Go ahead your ministry. First of all, I really appreciate it. I heard you talking to her collar related thinking that you were fairly identity perfect protection that every year when I heard you say that I did a lot of research on it. They say basically you a whole lot more that you could do yourself a credit reporting credit credit freeze which I've done all that, but I don't really have a lot of money training. It is a valuable service that I I want to cancel it if it really worthwhile, but I kept my big question is if your thoughts on the whole thing.

If I keep my service and get identity that could identify your one week that help yes well it's a great question and you know you're correct. I typically don't advise the average person to get and pay for identity theft protection until they or if they find themselves in a position where their identity has been stolen and when that happens often times it will be paid for you. In some cases, if your accounts were compromised, it would often be offered to you by some of you are one of the financial institutions you do business with and you might say will why is that why would you wait until it happens.

In order to pay for when you rather be preemptive and I would come back to it out. It happens to a small percentage of people even though we hear about it more and more and you're right Leslie, you know, the majority of what you need to do to protect yourself. You need to do anyway and so I would let me just mention a few of those number one you need to your freezer credit you've Artie done that. That's free with all the credit bureaus experience runs union and echo effect so nobody can you open an account fraudulently in your name because the lending institution are seeking credit from can access the credit report without a credit report no credit is extended. Safeguard your Social Security number so just be careful who you give that to don't carry that card with you. Be alert to what's called phishing and spoofing leases most commonly known as there are people who send you emails that are impersonating a legitimate business with a link that you click on that's not going to try to collect and steal your information and it can be done by phone as well use strong passwords and change them regularly.

Don't do business with any financial institutions on public Wi-Fi in a coffee shop or something like that you shred documents that have sensitive information. You know those are the kinds of things, and by the way check all of your accounts regularly and check your credit report regularly. If you do those things and turn on alerts because just about every financial institution you're going to do business with now is going to alert you when there's withdrawals when there's deposits over certain amount when they see activity that suspicious and if all of that is happening. And really, frankly. Leslie should be happening anyway then you you've put yourself in a position where I think you've done just about everything you can do that. Where will the identity theft protection help you beyond that, you know they can be out there monitoring on the dark web for you know your email address or phone number. A lot of your institutions are doing that now for free. They would be monitoring your credit report to for changes. You can do that yourself and set that up so I think it's just one of those added expenses, that unless you have reason to believe your accounts been compromised or you been notified of such just by using these best practices you can eliminate that expense for your budget but with all of that said Leslie if it gives you peace of mind to know that you got one extra layer of protection and you can afford to do it. You built within your budget that I would say you just stick with it and I don't have a problem with it.

I got just about 30 seconds left. Give your thoughts that okay Leslie, we appreciate your call today. Hope that was helpful. By the way, the FTC's website, FTC.gov has some great resources about identity theft you want to check out again FTC.gov hopefully were all using those best practices I just described to pause for a brief break more of your calls just around the corner. 800-525-7000 would love to hear from you.

Thanks for being alone with us today. This is moneywise live on Rob last thanks for joining us today is moneywise live on Rob. Lester hosts taking your calls and questions. What's the number to call 800-525-7000. By the way, moneywise media is a listener supported not-for-profit ministry. We do what we do through your generous or if you would prayerfully consider a gift one time or perhaps becoming a monthly partner would certainly be grateful. Just head over to our website moneywise live.org and click the donate button and I'll say thanks in advance. Again, blinds are open today for your calls and questions on anything financial you talk about savings are giving. Perhaps it's retirement that pesky credit score paying down some debt whatever you've got 800-525-7000. Next up is Scott in Grand Rapids, Michigan Scott, how can I assist you in my mortgage and I'm wondering is there any reason I should wait any longer to yell there's a good reason and it's because between now and age 70. Your Social Security check is going to increase by 8% a year and you know that's a nice increase that would then result in obviously a higher check every month for the rest of your life when you take it in because it sounds like you don't need it. Given that you're going be working in.

This is just money, you'd probably be sticking. You know the way in savings or investing in certain when I can get a guaranteed 8% return euro. I think there is a good case for it now. The flipside of that is well, I've got a live live long enough to realize that because I'm giving up three years worth of checks and even though many get a higher payout there some period of time that I need to live in order to pay me back for what I didn't get so that I can then enjoy that higher check from that point forward.

And that's true, but what I would say is that you have your healthy in the Lord Terry's there's a good chance that's good to be the case in know the data says that when you reach age 65 your life expectancy increases to 83 and 84 for men and women, respectively, and so know by waiting, especially since you don't need the money. I think there's a good reason for you to do that.

But tell me how your thinking about it.

Scott, what are your specific questions we put all the money will hundred thousand dollars okay yeah and that's a great point and I love the idea of you. All you really aggressively going after that, and then perhaps you know that this kind of extra money. You could certainly do that and feel that would get you to a place hopefully that by the time you retire you know that mortgage is gone, you are completely debt-free and and you have left less lifestyle to cover which means you need less income. So yeah, I mean, that would be a great scenario. Given that you still have a mortgage note over the next several years so I like that plan actually okay thanks okay Scott. We initiated well, thank you very much and I appreciate you listening and calling. Let's head to Chicago. Mary, thank you for your patience can help you where you had said earlier that my biggest competitor portion got the money meant something to that effect against currently and in a lot of time learning how to invest online in a lot of time and company a lot of money to my brokerage account. Even when I haven't really started doing anything with it. I guess I just wanted to know if any adjustment on how to make sure that I don't get carried away with the money part of it and stay focused on Christ. Yeah well Mary Alice I love this question because you're exactly right you what I was saying earlier is I believe that money is often the chief competitor Lordship of something is going to compete for first position in our lives with the Lord, which is his rightful place I believe it's most often to be money in the things that money can buy.

And so we have got to make a concerted effort to make sure that's not the case and I think it starts with this recognition that God owns it all and that were stewards which means we have a high calling because were managing the money that belongs to the creator of the universe. That's a big deep hole and it makes every spending decision. A spiritual decision, but beyond that realization. What can you do practically to make sure that that continues to happen and that as you research this investing and you are investing in handling money every day. In that effort. You don't get derailed from that.

And by the way, investing is very biblical in the parable of the talents and we see all of these principles around putting God's money to work. I think you and seeking of return on his money that's affirmed in the Bible so there's nothing wrong with that but it really comes down to a heart attitude and heart condition for us to make sure that we keep it in its proper place. So what can you do to make sure that said that's true. Well number one and I think this is probably the biggest thing is to renew your mind with the Scriptures around money. As I said at the top of the program gathers 2350 versus the deal with money and possessions in God's words or just meditating on those is going to renew your mind and orient your heart and your thinking toward money being seen through God's eyes, not the world's eyes. So what I want to do is step one we were done today. You stay on the line that will get your information, I want to send you a copy of the stewardship Bible. This was a project that American Bible Society encompass finances God's way, did years ago where they created a Bible and every money passage is highlighted in green and it's a beautiful Bible, but I think just you spending some time at the start of every day reading through and meditating on those passages will go a long way to make sure that your heart stays in the right to place. I think the second thing you can do is make sure you're being generous. Make sure you're giving systematically and you're giving sacrificially when the Holy Spirit lead you to do so. The author Ron blue and one of my mentors says that giving breaks the power of money over our lives and I believe that's true because it because it forces us to hold it loosely with an open hand because you know that swimmer or giving a more generous, it's flowing through us into God's causes which just naturally I believe calibrates our hearts to God's heart and I think preemptively keeps us from getting to a place where money gets out of whack with the with where our priorities should be.

So that's I think another thing that we can do as we move forward.

That does that make sense to you, though one clarification of giving systematically versus sacrificially systematically part what what you mean by sacrificially yeah that's a good question. So I think we should all be systematic givers and this would be along the lines of the principle of the tithe were we recognize that everything we have belongs to the Lord and we should systematically be giving a portion of what he entrusted to us back into circulation into God's economy at our local church and other places that he directs and I would do that proportionately we see proportionate giving in Scripture. Based on your increase of whatever income sources you haven't between you and the Lord decide what percent you want to give and I would hope that would increase over time. But then I think you'll beyond that, we need to be sensitive to what the Holy Spirit is leading us to do and be willing to give sacrificially even to the point of saying you know what I've been saving for this goal for vacation but I really feel like the Lord leaving me to give it to this person, they'd another in a desperate situation.

The just the car just you know is gone and I want to replace that, just take this out and even though I was planning on using it for something ultimately give it away.

I think that just means we gotta be in tune with the Holy Spirit and there will be those times where we sacrifice and we don't do something we want to do and we give to someone or something else that the Lord lead. That means we gotta be in prayer asking the Lord what he would have us Mary. I think you're on the right track. Stay on the line will get to the stewardship Bible and things much more ahead on moneywise live as your financial this. Thanks for joining us for moneywise live on Rob last along with us today moneywise after you have it you can take this program with you on the go. Listen on the treadmill walking through the groceries, blundering, plugging it into the Bluetooth in your car up plus all the other podcasts we have in our moneywise community in our digital envelope system. It's all available in the moneywise app.

Just go to your app store and search for moneywise biblical finance. Let's go back to the phones holding patiently in Elgin, Illinois rose thank you for calling today. How can I help euros and working full time and I will be 72 in October been contributing to my 401(k). I left my job a couple of weeks ago due to health reasons, but I had met with my advisor and mainly decided to start my required minimum distribution so they took half of it and my question is if I would have continued working. I could have delayed that the April correct of the next year. That's correct. Yes, okay, but since I've already started it and took half of it.

Can I delay the other portion into April.

I don't plan to go back to work this year I seeks yeah so your required minimum distribution.

You have to start taking when you reach age 72, and so it really has nothing to do with whether you started or not it is more about when you actually need to take it out and when it's when it's due based on your age. So, have you looked at you know that in terms of when you turn 72 and when it would actually be required from you to send and turn 72 October okay so it would April 1 of the year after you turn 72, and so that would be next April.

First is when your first RMD must be taken so the fact that you took one early doesn't you have anything to do with whether or not you take more right now it's really that it's just the full amount based on that IRS table with your age and your account balance and what is required to be taken out that that full amount be taken by April 1 of next year. Is that make sense okay so I took half and I can let the other half wait until April of next year. That's right. Great. Okay that was my question. Thank you so much okay Rose thank you for going today. God bless you on the Colorado Springs Colorado Samuel thank you for your call today.

How can help you brought Michael all my total health planning into this company and I wanted to know what because in the Plaza talking about you know they call let market where you will want to take. They been sharing with higher deductible and know things you would be a little want to know all no longer able to know for now, whatsoever. So I wanted to know what idea would I can at the same it to help the children because we have high deductible plan with little all premium and would be on a lot with hop and an ability to build his shorts is the high deductible plan, coupled with an HSA health savings account or not yet okay you know what is your age. Samuel, I'm 57 okay are you in good health. Yet okay so you don't have any ongoing medical conditions that require regular care at this point, no okay and would you have the ability with your disposable income and so forth to tenant really fully max out that HSA contribution this year. This year of an individual can put in up to $3600. The family can put in 7200. Would you be able to put in those types of amounts over the year. I can do a yeah okay yeah so the benefit of that is if you know typically I would say if you're younger your little bit older than I would like to see for the full benefit of the HSA but the second piece is that your healthy and you can fully fund you know that HSA so therefore you're gonna have some left over at the end of the year and then that HSA in retirement. You know, becomes a real powerful tool as a part of your retirement plan because it gives you a tax-advantaged account. Your dedicated toward medical expenses and even nonmedical expenses in retirement and so it can really be a great tool beyond even the retirement accounts that you have down the road so I think out you know this is a good idea if begin your healthy and you can fully fund it. But if you'd rather have the peace of mind to know you know that you beer to pay a little bit more and you've got less out of pocket whether that's for an office visit or a hospital stay and certainly having that option available to you is a good one.

My preference and what I do personally as I use the HSA just because we don't use it a lot even though we have kids, although they're getting older now and you know we have an account that's building up with an accumulated balance that will be available for the future. Does that make sense pretax money. Yeah, that's exactly right. And you know after you turn 65.

You can use. You know the HSA funds for nonqualified expenses you will pay ordinary income tax on that, but you won't have any penalties so it was a powerful tool as a part of your retirement arsenal if you will. So I hope that helps. Samuel, thank you for calling for listing all the best in this new job on to portage Indiana Kimberly, thank you for holding.

How can I help? Related trust and will fill it affect asked that amount or minimum. I get that you suggest full where people who wanted to try you know not necessary yet not necessarily mean you really need a will say everybody needs a will specially absolutely the minor children because that's gonna name the Guardian but you need to have a will, but that the trust is really about the rule of thumb would save you have a net worth of at least 100,000.

But beyond that, and you have either a substantial amount of assets in real estate or you have very specific instructions on how and when you want your estate to be distributed to your heirs after you die so you have a lifelong dependent child who you know you need to be able to distribute money to over time or you want certain triggering events to determine when money is distributed or things like that so it's really not about a dollar amount of net worth. It was long as it's over hundred thousand. It's really about how much do you have in real estate because there's a real benefit to to address there and you have those specific instructions on the timing and to whom you want your assets distributed.

If you don't have any of those going on then you know for most folks a simple will is all you need and it's going to be about 1/3 of the cost of the living trust. Does that make sense right because I have like $300,000 probably and real estate and how and an idea one specific log man about my property going to my children and want that path and if not hesitant to remarry, then I would really prefer for the children to have it and not the new spouse that may sound weird but I want the passage you know what I mean. It will be in the end, though, I'm wondering if that's the reason to get a trust to have. Yeah, I think I'm hearing enough to say it's at least worth talking about. So I would encourage you to go visit with a godly estate planner and find out know what makes the most sense for you to talk it through your specific situation and get some good counsel.

So I would call your church and asked for a godly estate planning attorney or you could connect with a certified kingdom advisor in your area and asked for recommendation but based on what I'm hearing. I think there's enough reason to at least explore it. Let's head to Brandon, Florida Paul, thank you for your patience and for said just got about a minute and 1/2.

How can I help you so I was very fortunate to go back to school and my life be okay under just her and, and I graduated never been able to get a job in my field. It will be another 45,000 or so that will be bringing in with it additional 30,000 on top of that the next three years I getting I've never had that kind of money and I lost. I think I have the gist of it, though I you cut out on us Paul.

But yeah, I mean this is a great thing you know if you can build your lifestyle. Around one income and take the other income and just socket away, especially since you guys are young. I would say that's the way to go because you could really build up some assets. I think the first question is what are what is your goal.

What are you saving for is it buying a house or do you have kids you want to start funding that college plan are you saving for retirement. You know, make sure your you're putting a good bit of it there through a company-sponsored plan or an IRA, or both, with the goal of 15% of your income 10 to 15% of your income and I be looking at both incomes as to what you're trying to get you working for you. Obviously your second income of yours that you're not using for your budget, your monthly spending is prime for those short-term, medium-term, and that long-term goal of retirement saving. So I would absolutely do that and I'd start with a retirement plan at work or an IRA or again use both of them together. Brandon still allow me to send you a copy of sound mind investing the handbook for most folks that's good for us today moneywise live is a partnership between radio and moneywise medium I have is Rob was so glad you're here today want to say thank you on behalf of my team got ET on phones Robert Sutherland doing research today Deb Solomon producing an 80 Rios, the fabulous engineer making it all happen.

Hopefully you'll come back and join us tomorrow I will be here, Lord willing to see you