June 30, 2025 • 49 mins
The Midlife Crisisses are back! On today's episode, Tyson Apostol (@tysonapostol) is back from filming a new TV show! With the band back together, Bradley Hasemayer (@bhaz) and William Drumm (@williamdrumm) discuss long-term financial investments, taxes, accountants and financial planners, what apps they use for savings, and more!
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Midlife Crisisses (@midlifecrisisses)
Tyson Apostol (@tysonapostol)
Bradley Hasemeyer(@bhaz)
and William Drumm (@williamdrumm)
Subscribe to us on Apple Podcasts and leave a review!
https://podcasts.apple.com/us/podcast/midlife-crisisses/id1779171406
Visit our brand new website!
https://midlifecrisisses.com/
Got a question for us? Send it to - midlifecrisisses@gmail.com!
Follow us on our social media!
Midlife Crisisses (@midlifecrisisses)
Tyson Apostol (@tysonapostol)
Bradley Hasemeyer(@bhaz)
and William Drumm (@williamdrumm)
Subscribe to us on Apple Podcasts and leave a review!
https://podcasts.apple.com/us/podcast/midlife-crisisses/id1779171406
Visit our brand new website!
https://midlifecrisisses.com/
Got a question for us? Send it to - midlifecrisisses@gmail.com!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome back to Midlife Crisises. I'm Tyson, one of the hosts.
Thank you so much for liking, subscribing, commenting, sharing all
of that stuff helps us continue to do this podcast,
and we would appreciate if you would continue to do
that each and every episode.
Speaker 2 (00:15):
We love you guys so much.
Speaker 1 (00:17):
We want to keep doing this and that is one
of the ways to.
Speaker 2 (00:20):
Guarantee I mean nothing at all. You guarantee it, okay,
then we will keep doing this.
Speaker 1 (00:26):
So smash that subscribe button, that like button, that follow button,
whatever buttons are there, smash them all.
Speaker 3 (00:34):
And we really want to hear for you guys too.
We want to hear about your midlife crisises. We want
to know what kind of stuff you are going through
so that we can talk about it and share our
insights about trying to survive this boat as well.
Speaker 4 (00:47):
So let's get into it today on midlife Crisis. As
we're talking money, how do you invest it? How do
you say for your future? How do you take care
of your kids? Are you doing a four oh one
k or Roth, are you doing an IRA? Are you
doing stufx, Robinhood, nerd wallet. We're going all over the place.
We don't have all the answers. We're definitely not official
financial advisors, but we talk about him and we want
(01:09):
to figure out from you and us what are we doing,
So let's get to it.
Speaker 3 (01:12):
Hello, and welcome to midlife crisis and disease, where we're
talking about being old as uck just true. Welcome to
midlife crisises, where we're giving support and talking about what
it's like to go through this sphase in our life
and joke around with you guys. Hopefully hear some of
your stories as we share hours. And we're really excited
today because we are graced with the presence of our
(01:35):
friend Tyson, who has gone for a little while and
is back today. He's a little worse for weather after
a lot of adventures. Button he's here.
Speaker 2 (01:45):
Yeah, I mean I can say it because the cast
had already was announced his stuff. I was on House
of Villain's TV show on Peacock in January, and the
transition from there's two transitions that are very difficult in
reality TV. And I don't think people really fully understand it,
and I don't even really fully understand it until I
relive it again. But going onto a show is quite
(02:07):
a transition. Leaving your family, your bills, everything you know
behind and not thinking about them. But then coming home
is equally or even more difficult, as you have the
highs of being on TV and being in the action
NonStop and then coming home and catching up on the
life you missed. Yeah, so I'm in that transit. Yeah,
(02:30):
I was gone for over three weeks, and I'm in
that transition phase of trying to figure out what I
missed and how I can help the family again.
Speaker 3 (02:40):
I mean, catching up on business stuff after one week
is tough, So after three weeks, especially like doing none
of it. Yeah, you must get deep in.
Speaker 2 (02:48):
And I know this is different.
Speaker 4 (02:49):
Yeah, this is different than my brother who is in
the military, And for our listeners who are military, you
have deployments, and that's a similar type of thing where
it's like you everything that you knew that was normal
and average, all of a sudden boom, you get on
a plane or whatever and it's gone for three months,
six months, nine months, sixteen months, like whatever your deployment is,
and then you come back. And I know there's an
adjustment period there too, but I would imagine it's in
(03:12):
those cases. I can only talk about it from understanding
my brother. But and I've got we've got a question
for the show. But I just think this is a
really interesting thing that you bring up, Tyson, which is
like that role of like getting back into the midlife,
getting back into your regular life, and you know, it's
hard on the family, and it's hard on you, and
then it's hard on and then I for you probably
there's like a third wave of when the show comes out, right,
(03:33):
that's a whole nother transition as well, and that's months.
Speaker 2 (03:36):
Away, like when will this come out January?
Speaker 4 (03:39):
That's six months away, So it's like you revisit.
Speaker 2 (03:42):
All this again, and it's emotion it's an emotional thing too,
Like especially for deployment and stuff. They're focused on the
task at hand, They're hyper focused on their jobs and
then they come home and have to be emotionally available
for everybody where they had to share no emoment and
whatsoever for the last six months, eight months, twelve months, whatever,
(04:04):
And so that's also very taxing. And it's similar here
where I go on a show where I'm expected to
be cutthroat and ruthless and I am, and then we
know that and then I have to open up myself
emotionally to my family as soon as I return, and
that's just a hard it's a hard transition.
Speaker 3 (04:25):
I don't know Tyson is being cutthroat at all because
I haven't Sorry, guys, I've never watched Survivor. I haven't
seen your reality TV work. So I'm very excited to
watch this new sholl and see this asshole Tyson that
I just don't know like at all.
Speaker 2 (04:41):
So good, good, right, Well, don't judge, you know the
real me. Let's get into our question. Since I know
we're all on a time crunch here. We're recording at
an alternative hour for all of us.
Speaker 4 (04:57):
Different days, different time, just trying to make it work.
Everybody's got stuff going on. Tyson's readjusting to real life.
William's got a big show coming up today as well.
Good look on that today, buddy.
Speaker 3 (05:06):
We've got about one hundred and fifty people are svpede already.
It's going to be massive, so maybe one hundred people,
but yeah, already we have one hundred and fifty people
are stuped. Our buddy is like this amazing chef. He's
making all kinds of amazing food for everybody. We've got
five thousand dollars of raffle tickets. It's like it's going
(05:28):
to be an awesome, awesome party.
Speaker 2 (05:30):
Are you going to have like a live video feed?
Speaker 3 (05:34):
Maybe?
Speaker 4 (05:35):
Yes, so the Patreon customers that we have for the
Patreon for free, just for an human life, Yeah.
Speaker 3 (05:43):
I'll at least run the Instagram live for a bit.
Speaker 2 (05:45):
Yeah a good idea. Yeah, Okay, Bradley, what's your question?
Speaker 4 (05:50):
So here's my question today, guys, And this has come
up because I've been working on this a little bit.
It's a money question. And maybe it's good that we've
got a short episode today because none of us are
financial advice, none of us are tax professionals. But I'm
curious what you guys have done and are doing in
terms of like long term investments or things for your family,
(06:11):
things for yourself, things that you've come across and you're like,
this is kind of a good idea, or wow, I
really need to spend some more time thinking about this
part of my life. I know we've talked about legacy,
We've talked about how do we set our families up,
We've talked about you know, we're at this point in
our life, you know, so we should have a little
more savviness about that kind of thing, and so I
(06:32):
just felt like this is kind of like an interesting
topic with a lot of takeaway stuff that people can
take action on five two nines, like you know, for
kids' school or roths or four oh one k's or
like any of that kind of stuff. So I'm just
curious what y'all's take is and what it's been in
the past.
Speaker 3 (06:47):
Yeah, it's funny. I just talked to my account the
other day or my financial planner, and it's like, it's
so complicated. It's one thing if you are not self employed,
if you just get a four oh one K or whatever,
but like right now, I messaged my financial planner and
I was like, hey, I want to start contributing more
to retirement. And he's like, okay, cool, do you want
(07:08):
to put it in your IRA, your WROTH IRA, your
four oh one K, your your WROTH four oh one
like you're account. Literally yeah, there's like literally eight different
ones and I'm just like, uh, information overload. So it's
not it's not easy navigating. And I think that's why
(07:28):
it's really important to have a good financial planner because
I can just be like, bro, you tell me, like,
what do you think I should do? Do that? All right,
here's some money, and now put it somewhere for me,
Thank you.
Speaker 2 (07:43):
But is that what you do?
Speaker 3 (07:44):
Yeah? Pretty much. I mean he tells me why I
should do it like that, and then I do it
like that usually, but would be a lot of the time.
It's because being a freelancer, being a artist, the money
is not consistent. It's like easter famine times. Same for
you guys. Money comes in, money goes out. So a
(08:06):
lot of times I will make most of my contributions
like in lump sums instead of throughout the year. So
like end of the year, I usually do a big
one or if I get a big project, I make
sure to set some aside for my different accounts. I've
got to fuff the five to nine for my daughter.
I've also got like a roth Ira for my daughter. Yeah,
(08:28):
and I don't know. It's complicated, and I just put
away money when I can.
Speaker 2 (08:32):
Yeah, it's so hard. It is so fucking difficult to
understand how money works and what the smartest thing to
do with it is. It's like you get on Instagram
and it's like, oh, if you just pay your kids
like their employees because there's ten loophooles you have to
(08:52):
go through. They can have eighty five trillion dollars by
the time they're twenty five if you put ten dollars
a week into their thing. And you're like, wait, how
I'm not and they're like, rewind it. Yeah, you have
to go to section nineteen eight eleven dash C four
to two and then from there you have to qualify
(09:12):
for A eighty seven B sixty two to four and
then from there and you're just like, what is going on?
And I'm like, am I missing all this? So I
go to my account. I'm like, hey, I saw these
on Instagram.
Speaker 4 (09:23):
He's like, this is surreal. Yeah, stop he stopped. That's
same conversation with my guy too. I was like, wait,
so I can pay my daughter up to twelve thousand
dollars a year and I never have to claim any
of it and she doesn't have to claim any of it.
He's like, no, not exactly, not specifically like that, No,
but I'm sure it's all those weird caveats of like
(09:44):
you know, section eighty seven four to two B. If
you pay them on before the January thirteenth of the
second year, that they've ever been like, I don't know, maybe,
but he was like, no, we're we're writing all of
this down.
Speaker 2 (09:55):
I was like, okay, all right, fine, yeah, And I
am also in the same boat as you, which not
a lot of all of our listeners are where we're
self employed, so we don't have a retirement like four
A one. I don't have a four oh one K
built anywhere, so I have I do most of my
saving on Acorns the app. I just literally am like,
(10:18):
do an aggressive do an aggressive savings or an aggressive portfolio?
And I just put a set amount every month into that.
And I do that for my kids too. I have
my kids accounts on there as well, and that's stocks
or how is that? I think there's crypto and stuff
on there now, but I think it's all stocks, or
(10:38):
mine's all stocks. They might have Corto too, And I
just do that. It's just easy and it seems fine.
And so have a finance guy or I have an
account but I don't have Yeah, I have a I
have an accountant, and I ask you questions. Basically, I
go in every six months and I say I want
(10:59):
to pay as little taxes as possible without going to prison.
I want to keep as much of my money as possible,
and I want to have my money build as much
as I can with the stuff that I have. But
like William said, I get paid in chunks too, like
all you know, all get paid, you know, one hundred
(11:22):
thousand here and then nothing, and then like a big chunks,
these weird hills. And so when these hills come, I
look for bigger things to invest in. And a lot
of times it's with the help of my father or
somebody like that that I trust, where I buy a
chunk of a small business or something like that, where
(11:43):
I'm a passive investor, and then I feel like that
as long as that business is something I believe in
and is something that's building, will grow and pay me
some dividends. And so I've been liking doing that.
Speaker 3 (12:00):
And that's funny you say that because there's this really
cool company, Drum Media else so interesting, and they're actually
looking for some financial investors.
Speaker 2 (12:11):
Interesting said, be the numbers as you can send, be
the numbers. I'll be interested in looking at that. So,
I mean, it's not a ton like in the course
of my life, I've probably bought into like three or
four things and they've all been profitable. But I also
think that one financial advice I could give to people
(12:33):
is invest in things that you yourself are passionate about
or know enough about to understand the landscape, or that
you know someone who is passionate about it and understands
the landscape. Those are the two. There's so many times
every time I've had friends and be like, hey, you
(12:54):
know what, this has taken off right now. You should
invest in this, lose money.
Speaker 3 (12:58):
Everything You're like, find out about it too.
Speaker 2 (13:03):
But if somebody's if somebody's passionate about it and understands
the landscape, and you trust them, then that's a that's
a move I would feel comfortable making. Or if I
am passionate about something and understand the landscape and everything
else I've ever done that, people are just like, you
know what this is, This is making money right now.
You should do this. No. Never, Yeah, I've tried day
(13:27):
trading on robin Hood and I took a thousand dollars
all the way down to eight dollars in about six months.
Speaker 4 (13:35):
Don't invest with Tyson. I think I'm getting many to
take away, but you have to try it.
Speaker 2 (13:40):
I doubled it and then it came out, I hit
this stock that just kept tanking, and by that time
it was just too funny to pull out. I was
just I just got to watch this go and it went.
Speaker 3 (13:49):
Literally I've done that with some crypto stuff for sure.
Speaker 2 (13:53):
You just buy it and you're like, this is so
funny to just watch it now, Like I just shot
one thousand dollars into eight dollars in six months, so
it's hilarious. But yeah, I think, talk to your tax guy,
talk to and a lot of people like don't even
want to pay for a financial advisor and and that,
(14:15):
so I don't know.
Speaker 3 (14:15):
The thing is with the financial advisors is like you
don't notice that you're paying for them, you know what
I mean, Like they manage your portfolio, so it's not
like you're like paying them money that you notice. And
what's good about at least the financial advisors who I have, well,
first of all, I trust them because they you know,
they've done really well for my sister and for my parents, family,
(14:37):
friends and stuff. But they're like really like their goal
is to not lose money, so they're really careful with
what they do, like they're not trying to double your money.
But they're definitely not trying to lose any money for you.
So it's like, especially if you're not that into it,
not that educated about it, it's good to have just
somebody who's really like what's the word, not say, like
(15:00):
safe or just like uh.
Speaker 2 (15:02):
Yeah, risk, adverse, risk and verse, Yeah, to.
Speaker 3 (15:05):
Handle your stuff and like they will like if you're like, hey,
actually I do want to put some money in crypto, like,
they'll still do it, but.
Speaker 2 (15:11):
They want to be aggressive something like that. Yeah, yeah,
they they I mean, it's your money. Ultimately, you get
to decide. I've had friends like that who the market.
When the market took a downturn, he was like called
his advisor and was like, pull everything out of everything,
and his advisors like, oh, I don't suggest that because
you know the dips and flows and ebbs and flows,
(15:33):
like let's just keep it, and he's like, no, pull
it out. They pulled it out, the market continued to tank,
and then he put it back in and he's like,
I had to pay some taxes, but I definitely gained
by making that move. Yeah, but that very risky move
to pull and then ye back.
Speaker 4 (15:51):
In on the downturn because you never know what's the
peak and what's the valley.
Speaker 2 (15:54):
You just use.
Speaker 3 (15:57):
All probability, you know. Yeah, so they were probably right
that it was probably a bad idea to pull it out,
but there was a wand out that it might work out.
Speaker 2 (16:04):
I know, we're out, So Bradley, what do you do? Well?
Speaker 4 (16:09):
A long time ago, many many years ago, when I
was first in LA, a friend of mine introduced me
to a financial advisor and I was, I mean, I
couldn't even pay my apartment rent a month at a time.
I had to pay each week my cash tips to
to my landlord, so I had no money to invest.
But the guy was like, start with twenty five bucks. Like,
let's get a roth going twenty five bucks a month.
(16:30):
Move it up when you can. So I went from
twenty five a month for a while and then moved to
one hundred and now we contribute maybe three or four
hundred bucks a month. Just like it's almost like not
even in your brain because it's an auto draft kind
of thing. Yeah, And every now and then I'll go
and take a look at it and I'm like, oh sweet,
like that's at least something out there, you know, that's going.
And I have really I only had three years of
(16:51):
like what I would call a traditional job when I
was hosting a show that Scripts Networks owned, and so
it was like a very kind of corporate kind of
gig basically. And so there was you know, four oh
one k and I would I would match it at whatever,
you know, three percent match or whatever the number was.
Speaker 3 (17:07):
One of the best things about being an employee is
getting that that's.
Speaker 4 (17:10):
Just great and mean, it's good for the company. They're
writing it off, but anyway, yeah, so so I would
take that and then when I finished, I was able
to roll that over into basically the management of my
financial guy, who I'd had, you know for a decade
before or whatever, so he handles a lot of those
little notes. But I did see something where it was
(17:31):
like you could pay your kids up to twelve thousand
bucks a year and all this kind of stuff, And
I was like, let me look into this, because I'm freelance,
but I'm in production, so it's really easy to justify.
Like oh, Ellis was in this shoot, but it was
like on Honda's social media, so that's not like one
hundred bucks. That would be a couple grand. That's easy,
So I could justify basically paying her from kid Blink,
my company, and then she doesn't know she'd just made
(17:53):
two thousand dollars. She's going to get thirty five bucks,
and that two thousand is going to go into a
five to two nine and into an investment form for her.
And so this year I started a wroth for her.
And the difference obviously between the wroth and traditional IRA
correct me if I'm wrong, but if I think it's
on the wroth, you only pay interest on the tax
(18:13):
You only pay tax on the money going in, so
it can sit there and it can accrue and compound,
which is great over time, and then when you take
it out that the taxes have already been paid. Basically,
whereas a wroth is different. You pay taxes on both sides.
So I think the wroth incentivizes you to hold onto it,
but you can't have it. You have to hold onto
it for a really long time. Yeah, like retirement, right,
(18:34):
like sixty five or something like that.
Speaker 2 (18:35):
You have to hold it for like, yeah, is it
passed a certain age or is it like twenty years
or something. I think you select the time amount of
like a twenty year yeah and nowhere. Basically, yeah, I
don't know exactly.
Speaker 3 (18:47):
Like I said, there's so many different ones too, Yeah.
Speaker 4 (18:50):
Exactly like wroth ira B or like wroth C or
is it a slow turn like whatever.
Speaker 3 (18:56):
So there's like a four oh one K that you
can do for self employed too. It's like four one kay, yeah.
Speaker 4 (19:02):
Yeah, I know, you're right, You're right, there's shoot. I
think it's se for self employed something like that. I
was contributed to one and my advisor was like, it
was through my payroll company, and he was like, don't
do that because you can write off more as a
self employed person doing it this way anyway. All that
to say, the idea of a financial advisor sounded intimidating
(19:23):
to me when I was younger, when I was like
twenty six, and my friend was like, you got to
meet this financial advisor. And then it also sounded like
I don't have enough money to need a financial advisor.
I don't make millions of dollars a year. Why do
I need? But it's been it's been helpful to know
that if the shit hits the fan, even if we
have to pay a bunch of taxes on it, that
(19:43):
whatever one hundred thousand that's been invested over all, these years,
we still have some cash somewhere if we have to
get to it. And then having the five two nine,
And we were talking about this on the previous episode
maybe two ago with with Omar who was on the
show with us, that some states let you roll a
five two nine over because if your kid gets a
(20:04):
full ride, then you're like, what do I do with
all this money that I just had? Like, what you know,
and you can roll that over too, But I think
from my standpoint, you know, it's easier to save when
you don't need savings, and we're so up and down
it's hard to know, like can we contribute a lot
this month? Do we do none this month? You know,
we lost a couple of contracts recently, so it feels
(20:25):
like we got to tighten down on some things. And
so I think as I've gotten older in my midlife,
across the board, I've found go easier on yourself, I think.
And in those instances it's like it's okay to be
like we were doing three hundred a month, but now
you know things have changed a little, or expenses have changed,
we can adjust that down to one hundred a month
to free up some money or whatever you know, we
also do stocks a little bit. And I got in
(20:47):
early with Tesla because Tyson, to your point, I love automotive.
I was reading about car companies. I had the chance
to be on the front lines because I was hosting
a car show. Would meet a bunch of different car
companies and stuff like that, and I was like, this
is kind of cool. I like, what's going on here?
Bought I think I had eight hundred bucks to put
in and I was like, I don't think, Like how
am I ever going to afford eight hundred dollars to invest?
(21:10):
And they was like, I think it was eighty bucks
a share. So I got ten shares and that just exploded,
and all of a sudden, it was like it divided
and it divided and divided, but I didn't It was
kind of it was just luck and I just didn't
touch it. I let it go and go and go
and go until things got a little bit crazy and
Elon was all over the place, and I was like,
where does he work? Does he work at the government,
does he work at Tesla? Things are starting to drop.
(21:32):
Let me just pull out and see what's going on
and take a break and take a step back.
Speaker 2 (21:36):
But I think you know, can you tell us the numbers?
Could you tell us sure? Eight hundred dollars in at
what point? Like what year?
Speaker 3 (21:43):
Ish?
Speaker 4 (21:44):
So twenty maybe twenty ten, twenty eleven.
Speaker 2 (21:49):
Okay, and then you pulled out. Would you sell that
eight hundred dollars.
Speaker 4 (21:52):
At seventy grand? Holy cow, Brad, Yeah, a good win, dude.
It was a huge dollars to seventy red.
Speaker 2 (22:00):
Yeah.
Speaker 4 (22:00):
It's different than one thousand down to eight. It was
the other direction.
Speaker 2 (22:04):
Yeah.
Speaker 1 (22:04):
Wow.
Speaker 4 (22:05):
And so we took that out, divided it, put some
in actually most of it in savings, which was nice
to talk bout a house that's insane. I know, it
was Well, that was one of those things that I
was like, this is kind of our retirement. But then
it was like do I pull it out? Now? Do
I wait? But it just seemed like the right time.
And I think to your point too, you got to
trust your gut because ultimately, if you pull it and
you're wrong, at least you trusted your gut, like you
(22:25):
went with what you wanted. But if you let someone
else say like no, no, no, keep it in there and
then it tanks more, you be pissed at that person
and be like you owe me twenty grand, you know,
or whatever it was that you messed. So we took
about We took more than half of it out, put
in savings, use some of that for some home repairs.
And then, which I mean talk about feeling like adulting.
I took money out of my stocks to pay for
(22:47):
home repairs. Like this is I feel like I Sai's
the scene from old school?
Speaker 2 (22:53):
Well where, well, what do you.
Speaker 4 (22:54):
Do this weekend? Will Pharaoh's like, Oh, We're going to
go to home depot, but only if there's time.
Speaker 2 (22:57):
Only if there's time.
Speaker 4 (22:58):
I don't know I have enough time and I don't
know if at this time. And that's what I feel
like right now. But then I left the others. I
used E Trade. I left the others just kind of
like sitting in E trade and the forty thousand or
let's see, yeah, the forty thousand that we pulled out.
I talked to my investor or my advisor, and I
was like, like, what's the highest percentage savings account? Basically
(23:19):
because it's just in my savings at Bank of America
is not going to do much. And he was like,
you know, the best thing to do is use NERD wallet,
which I've used before for all kinds of different things
like finding good credit card market.
Speaker 2 (23:29):
Yeah, exactly. Savings.
Speaker 4 (23:31):
So there was like a Capital one savings account. There
was like a high interest yield. Great, and it's free
and I'm already party Capital one, so I sent it
in there and it's been great, like five Yeah, it's
it's around. Let's see, I had it for had it
in there for about a month, had forty thousand at
the beginning, and ended up with like another seven hundred
bucks or something. Yeah, okay, great, so it's just like
(23:52):
a little bit of extra, a little bit extra, and yeah,
we had to pull some of that out, like I said,
for the repairs, and then the rest. I've left an
e trade kind of sitting there so I don't have
any transc fees. So whenever I'm ready to go ahead
and just like add back in again or double down
on something that I think, you know, I've been paying
attention to and I'm hearing a lot about. And I
remember when I was hosting the list, there was this
idea of mom stocks, basically like investing in the things
(24:16):
that you use, like use a bunch of bounty paper towels,
invest in that you know, and there's some kind of
like almost like I think Acorn makes that really easy.
Robinhood makes that easy to basically like get into these
stocks that you you like. You're like, oh, I really
like Apple because I use their products a lot, you
know that kind of thing. So I think that's a
fun way to invest as well. Instead of making it
seem like I'm getting rid of all this money, it's
(24:37):
like I'm taking part in this company that I care
about and think about.
Speaker 3 (24:40):
You know, yeah, what does nerd?
Speaker 4 (24:44):
Nerd Wall is just a website that aggregates It's written
by money experts, and it aggregates great credit cards. You
can go on there and be like, I want a
credit card that has you know, zero dollar fees grade.
It's made for the words exactly, and then up like
here's three or four great options. So that's that's always
been really helpful for savings account. I used that to
(25:05):
figure out a checking account for Ellis because I needed
an account basically that I could use to pay her
we Basically, she has a debit card and each month,
each week, she gets four bucks that goes in there
basically for her to spend. She can do additional chores
and make extra money, not twenty five cents for claiming
the backyard like Tyson said one time for his kids.
And then from there I was like, okay, nerd wallet,
(25:28):
I want something that's basically a good you know account
for kids. It's safe, that's zero dollars. If you have
a zero dollar balance, you're not going to charge you
thirty five bucks a month or whatever kind of thing.
And so it was like, this is a great one
from Capitol one. So I was like, okay, anyway, that's
a good resource capital I mean nerd wallet.
Speaker 3 (25:46):
Yeah, talking about at the beginning of your little talk,
you just gave talk about financial planners and how you
started when you didn't have much money, and I think
that's another good thing about them, and like why I
didn't realize it is like same with me. I started
when you know, I was living in somebody's basement with
the financial planner, and they helped me every step of
(26:08):
the way, like buying our three houses that we bought,
and then yeah, you know, after I lost it all,
helping me get back on my feet.
Speaker 4 (26:16):
That's a really good point.
Speaker 3 (26:17):
So it's good to have them no matter if you're
feeling like you're balling, or if you're feeling like you're broke.
Speaker 4 (26:22):
And I've never felt I will say, a good financial
planner will not make you feel like embarrassed or feel
crappy like there, for gosh, maybe seven years, we carried
like twenty grand in credit card debt because just the
nature of our business is like we have highs and lows,
highs and lows. And then we moved to New York
(26:42):
and it was hella expensive and we had enough money
at the time. Then a contract went away, then another
one came and it wasn't and I just felt terrible.
I was so embarrassed. I was like, I can't believe
that I have to like confess this to my advisor.
Every time we're going to talk, I can push in
the meeting off because I don't even want to tell them,
you know. And it's like I thought I would be
better than this by now I'm in my midlife, you know,
this is a few years ago. It's like I shouldn't
(27:04):
I shouldn't have that be a problem that I can't
pay for this, you know. And so but he was
always like he was like, look, it's it's not always
going to be this way. There will come a time
when you know you'll pay it off, and these are
the little steps we can be taking now to do that.
And let's just keep moving forward, keep putting money into it,
keep doing thing. And you know, two years ago paid
(27:25):
it all off, finally got to zero, which is great,
not at zero anymore, but was at zero at one point.
And so I think that's something too, to like go
easy on yourself, because you can beat yourself up over
money so easily. I don't make it enough, I don't
save enough, I'm not smart enough with it, like whatever
it is, and you just got to go easy on yourself.
Speaker 2 (27:45):
It causes so much stress. I think it's the thing
I stress out the most about. Yeah, I get thinking
about it too much. I'll get canker source ye.
Speaker 4 (27:52):
But my advice Kirsten was like, you think that contract's
going to renew? And I was like yeah, And then
like four hours later, I was like, it's I had
you even thought about that. I assumed it was going
to renew. Maybe it's not gonna renew, And it was
like yeah to your boys, Ison, like it just keeps
me up sometimes.
Speaker 2 (28:06):
Yeah, And I think the takeaway here for me is
find an advisor of some sorts put money in. You
can never start too early, like I wish. I don't
know why someone didn't tell me to just like as
soon as I was getting a paycheck to start putting
some money somewhere like I have. My brother in law
(28:28):
was buying Apple and Google and Amazon, like in the
late nineties when he was like from high school. He
was like skipping out on going out to dinner with
friends to put five dollars in the stock market. Epic.
And so I wish that someone had now needed to
(28:49):
start Utah.
Speaker 4 (28:50):
He just bought the state.
Speaker 2 (28:52):
I think he's doing pretty well, but I think that
that's like you can't start too early. And you know,
if you tell your advisor what you want or what
you're expecting, then they can help you place it in
different places. Because for me, I don't want to lock
my cash down in case I want to invest in
(29:13):
a company or buy a chunk of a company somewhere.
So I prefer to have something that I can pull immediately.
So I don't do the locked in like wroths or
whatever the locked in ones are for twenty years without
paying penalties. I don't do those ones. But if you
want to just build a retirement in those they pay
out the best. So yeah, that's all that's start. If
(29:37):
you hear this and you haven't started putting money aside
for your future, that's good start right after you listen
to this.
Speaker 3 (29:45):
Yeah, yeah, And like Bradley said, even if it's twenty
five dollars a month, like even if it's five, even
if it's five. And also to the point about money
is so stressful and it can cause all these problems.
I think you just got to realize too. Money comes mine,
he goes, and as long as you are not destitute,
you're probably doing better than most people out there in
(30:06):
the world.
Speaker 5 (30:07):
Yeah.
Speaker 2 (30:07):
So yeah, And in the end, all our deaths will
be painful.
Speaker 3 (30:12):
Right, and you can't take it with you with you.
Speaker 5 (30:17):
That's the true good way to good encouragement there right
at the end, you just saying, why did our listenership
drop off after that Finance episode?
Speaker 3 (30:29):
No, But like we.
Speaker 2 (30:30):
All say facts, facts, uh, And I have to tell
myself that sometimes too. But that's it, Like subscribe, listen, share,
let us know what you're doing with your money in
the comments, and if there's something we miss that we
personally should be doing because we don't have all the answers.
We're here to learn and we're here to grow, and
(30:51):
we do that by all talking together. So keep us
in the loop. If you got some secret investment thing
going on, let us all know, us know, get us
in on that, get us in on that. Okay until
next week. See uh so you fis
Speaker 1 (49:01):
Assass
Welcome back to Midlife Crisises. I'm Tyson, one of the hosts.
Thank you so much for liking, subscribing, commenting, sharing all
of that stuff helps us continue to do this podcast,
and we would appreciate if you would continue to do
that each and every episode.
Speaker 2 (00:15):
We love you guys so much.
Speaker 1 (00:17):
We want to keep doing this and that is one
of the ways to.
Speaker 2 (00:20):
Guarantee I mean nothing at all. You guarantee it, okay,
then we will keep doing this.
Speaker 1 (00:26):
So smash that subscribe button, that like button, that follow button,
whatever buttons are there, smash them all.
Speaker 3 (00:34):
And we really want to hear for you guys too.
We want to hear about your midlife crisises. We want
to know what kind of stuff you are going through
so that we can talk about it and share our
insights about trying to survive this boat as well.
Speaker 4 (00:47):
So let's get into it today on midlife Crisis. As
we're talking money, how do you invest it? How do
you say for your future? How do you take care
of your kids? Are you doing a four oh one
k or Roth, are you doing an IRA? Are you
doing stufx, Robinhood, nerd wallet. We're going all over the place.
We don't have all the answers. We're definitely not official
financial advisors, but we talk about him and we want
(01:09):
to figure out from you and us what are we doing,
So let's get to it.
Speaker 3 (01:12):
Hello, and welcome to midlife crisis and disease, where we're
talking about being old as uck just true. Welcome to
midlife crisises, where we're giving support and talking about what
it's like to go through this sphase in our life
and joke around with you guys. Hopefully hear some of
your stories as we share hours. And we're really excited
today because we are graced with the presence of our
(01:35):
friend Tyson, who has gone for a little while and
is back today. He's a little worse for weather after
a lot of adventures. Button he's here.
Speaker 2 (01:45):
Yeah, I mean I can say it because the cast
had already was announced his stuff. I was on House
of Villain's TV show on Peacock in January, and the
transition from there's two transitions that are very difficult in
reality TV. And I don't think people really fully understand it,
and I don't even really fully understand it until I
relive it again. But going onto a show is quite
(02:07):
a transition. Leaving your family, your bills, everything you know
behind and not thinking about them. But then coming home
is equally or even more difficult, as you have the
highs of being on TV and being in the action
NonStop and then coming home and catching up on the
life you missed. Yeah, so I'm in that transit. Yeah,
(02:30):
I was gone for over three weeks, and I'm in
that transition phase of trying to figure out what I
missed and how I can help the family again.
Speaker 3 (02:40):
I mean, catching up on business stuff after one week
is tough, So after three weeks, especially like doing none
of it. Yeah, you must get deep in.
Speaker 2 (02:48):
And I know this is different.
Speaker 4 (02:49):
Yeah, this is different than my brother who is in
the military, And for our listeners who are military, you
have deployments, and that's a similar type of thing where
it's like you everything that you knew that was normal
and average, all of a sudden boom, you get on
a plane or whatever and it's gone for three months,
six months, nine months, sixteen months, like whatever your deployment is,
and then you come back. And I know there's an
adjustment period there too, but I would imagine it's in
(03:12):
those cases. I can only talk about it from understanding
my brother. But and I've got we've got a question
for the show. But I just think this is a
really interesting thing that you bring up, Tyson, which is
like that role of like getting back into the midlife,
getting back into your regular life, and you know, it's
hard on the family, and it's hard on you, and
then it's hard on and then I for you probably
there's like a third wave of when the show comes out, right,
(03:33):
that's a whole nother transition as well, and that's months.
Speaker 2 (03:36):
Away, like when will this come out January?
Speaker 4 (03:39):
That's six months away, So it's like you revisit.
Speaker 2 (03:42):
All this again, and it's emotion it's an emotional thing too,
Like especially for deployment and stuff. They're focused on the
task at hand, They're hyper focused on their jobs and
then they come home and have to be emotionally available
for everybody where they had to share no emoment and
whatsoever for the last six months, eight months, twelve months, whatever,
(04:04):
And so that's also very taxing. And it's similar here
where I go on a show where I'm expected to
be cutthroat and ruthless and I am, and then we
know that and then I have to open up myself
emotionally to my family as soon as I return, and
that's just a hard it's a hard transition.
Speaker 3 (04:25):
I don't know Tyson is being cutthroat at all because
I haven't Sorry, guys, I've never watched Survivor. I haven't
seen your reality TV work. So I'm very excited to
watch this new sholl and see this asshole Tyson that
I just don't know like at all.
Speaker 2 (04:41):
So good, good, right, Well, don't judge, you know the
real me. Let's get into our question. Since I know
we're all on a time crunch here. We're recording at
an alternative hour for all of us.
Speaker 4 (04:57):
Different days, different time, just trying to make it work.
Everybody's got stuff going on. Tyson's readjusting to real life.
William's got a big show coming up today as well.
Good look on that today, buddy.
Speaker 3 (05:06):
We've got about one hundred and fifty people are svpede already.
It's going to be massive, so maybe one hundred people,
but yeah, already we have one hundred and fifty people
are stuped. Our buddy is like this amazing chef. He's
making all kinds of amazing food for everybody. We've got
five thousand dollars of raffle tickets. It's like it's going
(05:28):
to be an awesome, awesome party.
Speaker 2 (05:30):
Are you going to have like a live video feed?
Speaker 3 (05:34):
Maybe?
Speaker 4 (05:35):
Yes, so the Patreon customers that we have for the
Patreon for free, just for an human life, Yeah.
Speaker 3 (05:43):
I'll at least run the Instagram live for a bit.
Speaker 2 (05:45):
Yeah a good idea. Yeah, Okay, Bradley, what's your question?
Speaker 4 (05:50):
So here's my question today, guys, And this has come
up because I've been working on this a little bit.
It's a money question. And maybe it's good that we've
got a short episode today because none of us are
financial advice, none of us are tax professionals. But I'm
curious what you guys have done and are doing in
terms of like long term investments or things for your family,
(06:11):
things for yourself, things that you've come across and you're like,
this is kind of a good idea, or wow, I
really need to spend some more time thinking about this
part of my life. I know we've talked about legacy,
We've talked about how do we set our families up,
We've talked about you know, we're at this point in
our life, you know, so we should have a little
more savviness about that kind of thing, and so I
(06:32):
just felt like this is kind of like an interesting
topic with a lot of takeaway stuff that people can
take action on five two nines, like you know, for
kids' school or roths or four oh one k's or
like any of that kind of stuff. So I'm just
curious what y'all's take is and what it's been in
the past.
Speaker 3 (06:47):
Yeah, it's funny. I just talked to my account the
other day or my financial planner, and it's like, it's
so complicated. It's one thing if you are not self employed,
if you just get a four oh one K or whatever,
but like right now, I messaged my financial planner and
I was like, hey, I want to start contributing more
to retirement. And he's like, okay, cool, do you want
(07:08):
to put it in your IRA, your WROTH IRA, your
four oh one K, your your WROTH four oh one
like you're account. Literally yeah, there's like literally eight different
ones and I'm just like, uh, information overload. So it's
not it's not easy navigating. And I think that's why
(07:28):
it's really important to have a good financial planner because
I can just be like, bro, you tell me, like,
what do you think I should do? Do that? All right,
here's some money, and now put it somewhere for me,
Thank you.
Speaker 2 (07:43):
But is that what you do?
Speaker 3 (07:44):
Yeah? Pretty much. I mean he tells me why I
should do it like that, and then I do it
like that usually, but would be a lot of the time.
It's because being a freelancer, being a artist, the money
is not consistent. It's like easter famine times. Same for
you guys. Money comes in, money goes out. So a
(08:06):
lot of times I will make most of my contributions
like in lump sums instead of throughout the year. So
like end of the year, I usually do a big
one or if I get a big project, I make
sure to set some aside for my different accounts. I've
got to fuff the five to nine for my daughter.
I've also got like a roth Ira for my daughter. Yeah,
(08:28):
and I don't know. It's complicated, and I just put
away money when I can.
Speaker 2 (08:32):
Yeah, it's so hard. It is so fucking difficult to
understand how money works and what the smartest thing to
do with it is. It's like you get on Instagram
and it's like, oh, if you just pay your kids
like their employees because there's ten loophooles you have to
(08:52):
go through. They can have eighty five trillion dollars by
the time they're twenty five if you put ten dollars
a week into their thing. And you're like, wait, how
I'm not and they're like, rewind it. Yeah, you have
to go to section nineteen eight eleven dash C four
to two and then from there you have to qualify
(09:12):
for A eighty seven B sixty two to four and
then from there and you're just like, what is going on?
And I'm like, am I missing all this? So I
go to my account. I'm like, hey, I saw these
on Instagram.
Speaker 4 (09:23):
He's like, this is surreal. Yeah, stop he stopped. That's
same conversation with my guy too. I was like, wait,
so I can pay my daughter up to twelve thousand
dollars a year and I never have to claim any
of it and she doesn't have to claim any of it.
He's like, no, not exactly, not specifically like that, No,
but I'm sure it's all those weird caveats of like
(09:44):
you know, section eighty seven four to two B. If
you pay them on before the January thirteenth of the
second year, that they've ever been like, I don't know, maybe,
but he was like, no, we're we're writing all of
this down.
Speaker 2 (09:55):
I was like, okay, all right, fine, yeah, And I
am also in the same boat as you, which not
a lot of all of our listeners are where we're
self employed, so we don't have a retirement like four
A one. I don't have a four oh one K
built anywhere, so I have I do most of my
saving on Acorns the app. I just literally am like,
(10:18):
do an aggressive do an aggressive savings or an aggressive portfolio?
And I just put a set amount every month into that.
And I do that for my kids too. I have
my kids accounts on there as well, and that's stocks
or how is that? I think there's crypto and stuff
on there now, but I think it's all stocks, or
(10:38):
mine's all stocks. They might have Corto too, And I
just do that. It's just easy and it seems fine.
And so have a finance guy or I have an
account but I don't have Yeah, I have a I
have an accountant, and I ask you questions. Basically, I
go in every six months and I say I want
(10:59):
to pay as little taxes as possible without going to prison.
I want to keep as much of my money as possible,
and I want to have my money build as much
as I can with the stuff that I have. But
like William said, I get paid in chunks too, like
all you know, all get paid, you know, one hundred
(11:22):
thousand here and then nothing, and then like a big chunks,
these weird hills. And so when these hills come, I
look for bigger things to invest in. And a lot
of times it's with the help of my father or
somebody like that that I trust, where I buy a
chunk of a small business or something like that, where
(11:43):
I'm a passive investor, and then I feel like that
as long as that business is something I believe in
and is something that's building, will grow and pay me
some dividends. And so I've been liking doing that.
Speaker 3 (12:00):
And that's funny you say that because there's this really
cool company, Drum Media else so interesting, and they're actually
looking for some financial investors.
Speaker 2 (12:11):
Interesting said, be the numbers as you can send, be
the numbers. I'll be interested in looking at that. So,
I mean, it's not a ton like in the course
of my life, I've probably bought into like three or
four things and they've all been profitable. But I also
think that one financial advice I could give to people
(12:33):
is invest in things that you yourself are passionate about
or know enough about to understand the landscape, or that
you know someone who is passionate about it and understands
the landscape. Those are the two. There's so many times
every time I've had friends and be like, hey, you
(12:54):
know what, this has taken off right now. You should
invest in this, lose money.
Speaker 3 (12:58):
Everything You're like, find out about it too.
Speaker 2 (13:03):
But if somebody's if somebody's passionate about it and understands
the landscape, and you trust them, then that's a that's
a move I would feel comfortable making. Or if I
am passionate about something and understand the landscape and everything
else I've ever done that, people are just like, you
know what this is, This is making money right now.
You should do this. No. Never, Yeah, I've tried day
(13:27):
trading on robin Hood and I took a thousand dollars
all the way down to eight dollars in about six months.
Speaker 4 (13:35):
Don't invest with Tyson. I think I'm getting many to
take away, but you have to try it.
Speaker 2 (13:40):
I doubled it and then it came out, I hit
this stock that just kept tanking, and by that time
it was just too funny to pull out. I was
just I just got to watch this go and it went.
Speaker 3 (13:49):
Literally I've done that with some crypto stuff for sure.
Speaker 2 (13:53):
You just buy it and you're like, this is so
funny to just watch it now, Like I just shot
one thousand dollars into eight dollars in six months, so
it's hilarious. But yeah, I think, talk to your tax guy,
talk to and a lot of people like don't even
want to pay for a financial advisor and and that,
(14:15):
so I don't know.
Speaker 3 (14:15):
The thing is with the financial advisors is like you
don't notice that you're paying for them, you know what
I mean, Like they manage your portfolio, so it's not
like you're like paying them money that you notice. And
what's good about at least the financial advisors who I have, well,
first of all, I trust them because they you know,
they've done really well for my sister and for my parents, family,
(14:37):
friends and stuff. But they're like really like their goal
is to not lose money, so they're really careful with
what they do, like they're not trying to double your money.
But they're definitely not trying to lose any money for you.
So it's like, especially if you're not that into it,
not that educated about it, it's good to have just
somebody who's really like what's the word, not say, like
(15:00):
safe or just like uh.
Speaker 2 (15:02):
Yeah, risk, adverse, risk and verse, Yeah, to.
Speaker 3 (15:05):
Handle your stuff and like they will like if you're like, hey,
actually I do want to put some money in crypto, like,
they'll still do it, but.
Speaker 2 (15:11):
They want to be aggressive something like that. Yeah, yeah,
they they I mean, it's your money. Ultimately, you get
to decide. I've had friends like that who the market.
When the market took a downturn, he was like called
his advisor and was like, pull everything out of everything,
and his advisors like, oh, I don't suggest that because
you know the dips and flows and ebbs and flows,
(15:33):
like let's just keep it, and he's like, no, pull
it out. They pulled it out, the market continued to tank,
and then he put it back in and he's like,
I had to pay some taxes, but I definitely gained
by making that move. Yeah, but that very risky move
to pull and then ye back.
Speaker 4 (15:51):
In on the downturn because you never know what's the
peak and what's the valley.
Speaker 2 (15:54):
You just use.
Speaker 3 (15:57):
All probability, you know. Yeah, so they were probably right
that it was probably a bad idea to pull it out,
but there was a wand out that it might work out.
Speaker 2 (16:04):
I know, we're out, So Bradley, what do you do? Well?
Speaker 4 (16:09):
A long time ago, many many years ago, when I
was first in LA, a friend of mine introduced me
to a financial advisor and I was, I mean, I
couldn't even pay my apartment rent a month at a time.
I had to pay each week my cash tips to
to my landlord, so I had no money to invest.
But the guy was like, start with twenty five bucks. Like,
let's get a roth going twenty five bucks a month.
(16:30):
Move it up when you can. So I went from
twenty five a month for a while and then moved to
one hundred and now we contribute maybe three or four
hundred bucks a month. Just like it's almost like not
even in your brain because it's an auto draft kind
of thing. Yeah, And every now and then I'll go
and take a look at it and I'm like, oh sweet,
like that's at least something out there, you know, that's going.
And I have really I only had three years of
(16:51):
like what I would call a traditional job when I
was hosting a show that Scripts Networks owned, and so
it was like a very kind of corporate kind of
gig basically. And so there was you know, four oh
one k and I would I would match it at whatever,
you know, three percent match or whatever the number was.
Speaker 3 (17:07):
One of the best things about being an employee is
getting that that's.
Speaker 4 (17:10):
Just great and mean, it's good for the company. They're
writing it off, but anyway, yeah, so so I would
take that and then when I finished, I was able
to roll that over into basically the management of my
financial guy, who I'd had, you know for a decade
before or whatever, so he handles a lot of those
little notes. But I did see something where it was
(17:31):
like you could pay your kids up to twelve thousand
bucks a year and all this kind of stuff, And
I was like, let me look into this, because I'm freelance,
but I'm in production, so it's really easy to justify.
Like oh, Ellis was in this shoot, but it was
like on Honda's social media, so that's not like one
hundred bucks. That would be a couple grand. That's easy,
So I could justify basically paying her from kid Blink,
my company, and then she doesn't know she'd just made
(17:53):
two thousand dollars. She's going to get thirty five bucks,
and that two thousand is going to go into a
five to two nine and into an investment form for her.
And so this year I started a wroth for her.
And the difference obviously between the wroth and traditional IRA
correct me if I'm wrong, but if I think it's
on the wroth, you only pay interest on the tax
(18:13):
You only pay tax on the money going in, so
it can sit there and it can accrue and compound,
which is great over time, and then when you take
it out that the taxes have already been paid. Basically,
whereas a wroth is different. You pay taxes on both sides.
So I think the wroth incentivizes you to hold onto it,
but you can't have it. You have to hold onto
it for a really long time. Yeah, like retirement, right,
(18:34):
like sixty five or something like that.
Speaker 2 (18:35):
You have to hold it for like, yeah, is it
passed a certain age or is it like twenty years
or something. I think you select the time amount of
like a twenty year yeah and nowhere. Basically, yeah, I
don't know exactly.
Speaker 3 (18:47):
Like I said, there's so many different ones too, Yeah.
Speaker 4 (18:50):
Exactly like wroth ira B or like wroth C or
is it a slow turn like whatever.
Speaker 3 (18:56):
So there's like a four oh one K that you
can do for self employed too. It's like four one kay, yeah.
Speaker 4 (19:02):
Yeah, I know, you're right, You're right, there's shoot. I
think it's se for self employed something like that. I
was contributed to one and my advisor was like, it
was through my payroll company, and he was like, don't
do that because you can write off more as a
self employed person doing it this way anyway. All that
to say, the idea of a financial advisor sounded intimidating
(19:23):
to me when I was younger, when I was like
twenty six, and my friend was like, you got to
meet this financial advisor. And then it also sounded like
I don't have enough money to need a financial advisor.
I don't make millions of dollars a year. Why do
I need? But it's been it's been helpful to know
that if the shit hits the fan, even if we
have to pay a bunch of taxes on it, that
(19:43):
whatever one hundred thousand that's been invested over all, these years,
we still have some cash somewhere if we have to
get to it. And then having the five two nine,
And we were talking about this on the previous episode
maybe two ago with with Omar who was on the
show with us, that some states let you roll a
five two nine over because if your kid gets a
(20:04):
full ride, then you're like, what do I do with
all this money that I just had? Like, what you know,
and you can roll that over too, But I think
from my standpoint, you know, it's easier to save when
you don't need savings, and we're so up and down
it's hard to know, like can we contribute a lot
this month? Do we do none this month? You know,
we lost a couple of contracts recently, so it feels
(20:25):
like we got to tighten down on some things. And
so I think as I've gotten older in my midlife,
across the board, I've found go easier on yourself, I think.
And in those instances it's like it's okay to be
like we were doing three hundred a month, but now
you know things have changed a little, or expenses have changed,
we can adjust that down to one hundred a month
to free up some money or whatever you know, we
also do stocks a little bit. And I got in
(20:47):
early with Tesla because Tyson, to your point, I love automotive.
I was reading about car companies. I had the chance
to be on the front lines because I was hosting
a car show. Would meet a bunch of different car
companies and stuff like that, and I was like, this
is kind of cool. I like, what's going on here?
Bought I think I had eight hundred bucks to put
in and I was like, I don't think, Like how
am I ever going to afford eight hundred dollars to invest?
(21:10):
And they was like, I think it was eighty bucks
a share. So I got ten shares and that just exploded,
and all of a sudden, it was like it divided
and it divided and divided, but I didn't It was
kind of it was just luck and I just didn't
touch it. I let it go and go and go
and go until things got a little bit crazy and
Elon was all over the place, and I was like,
where does he work? Does he work at the government,
does he work at Tesla? Things are starting to drop.
(21:32):
Let me just pull out and see what's going on
and take a break and take a step back.
Speaker 2 (21:36):
But I think you know, can you tell us the numbers?
Could you tell us sure? Eight hundred dollars in at
what point? Like what year?
Speaker 3 (21:43):
Ish?
Speaker 4 (21:44):
So twenty maybe twenty ten, twenty eleven.
Speaker 2 (21:49):
Okay, and then you pulled out. Would you sell that
eight hundred dollars.
Speaker 4 (21:52):
At seventy grand? Holy cow, Brad, Yeah, a good win, dude.
It was a huge dollars to seventy red.
Speaker 2 (22:00):
Yeah.
Speaker 4 (22:00):
It's different than one thousand down to eight. It was
the other direction.
Speaker 2 (22:04):
Yeah.
Speaker 1 (22:04):
Wow.
Speaker 4 (22:05):
And so we took that out, divided it, put some
in actually most of it in savings, which was nice
to talk bout a house that's insane. I know, it
was Well, that was one of those things that I
was like, this is kind of our retirement. But then
it was like do I pull it out? Now? Do
I wait? But it just seemed like the right time.
And I think to your point too, you got to
trust your gut because ultimately, if you pull it and
you're wrong, at least you trusted your gut, like you
(22:25):
went with what you wanted. But if you let someone
else say like no, no, no, keep it in there and
then it tanks more, you be pissed at that person
and be like you owe me twenty grand, you know,
or whatever it was that you messed. So we took
about We took more than half of it out, put
in savings, use some of that for some home repairs.
And then, which I mean talk about feeling like adulting.
I took money out of my stocks to pay for
(22:47):
home repairs. Like this is I feel like I Sai's
the scene from old school?
Speaker 2 (22:53):
Well where, well, what do you.
Speaker 4 (22:54):
Do this weekend? Will Pharaoh's like, Oh, We're going to
go to home depot, but only if there's time.
Speaker 2 (22:57):
Only if there's time.
Speaker 4 (22:58):
I don't know I have enough time and I don't
know if at this time. And that's what I feel
like right now. But then I left the others. I
used E Trade. I left the others just kind of
like sitting in E trade and the forty thousand or
let's see, yeah, the forty thousand that we pulled out.
I talked to my investor or my advisor, and I
was like, like, what's the highest percentage savings account? Basically
(23:19):
because it's just in my savings at Bank of America
is not going to do much. And he was like,
you know, the best thing to do is use NERD wallet,
which I've used before for all kinds of different things
like finding good credit card market.
Speaker 2 (23:29):
Yeah, exactly. Savings.
Speaker 4 (23:31):
So there was like a Capital one savings account. There
was like a high interest yield. Great, and it's free
and I'm already party Capital one, so I sent it
in there and it's been great, like five Yeah, it's
it's around. Let's see, I had it for had it
in there for about a month, had forty thousand at
the beginning, and ended up with like another seven hundred
bucks or something. Yeah, okay, great, so it's just like
(23:52):
a little bit of extra, a little bit extra, and yeah,
we had to pull some of that out, like I said,
for the repairs, and then the rest. I've left an
e trade kind of sitting there so I don't have
any transc fees. So whenever I'm ready to go ahead
and just like add back in again or double down
on something that I think, you know, I've been paying
attention to and I'm hearing a lot about. And I
remember when I was hosting the list, there was this
idea of mom stocks, basically like investing in the things
(24:16):
that you use, like use a bunch of bounty paper towels,
invest in that you know, and there's some kind of
like almost like I think Acorn makes that really easy.
Robinhood makes that easy to basically like get into these
stocks that you you like. You're like, oh, I really
like Apple because I use their products a lot, you
know that kind of thing. So I think that's a
fun way to invest as well. Instead of making it
seem like I'm getting rid of all this money, it's
(24:37):
like I'm taking part in this company that I care
about and think about.
Speaker 3 (24:40):
You know, yeah, what does nerd?
Speaker 4 (24:44):
Nerd Wall is just a website that aggregates It's written
by money experts, and it aggregates great credit cards. You
can go on there and be like, I want a
credit card that has you know, zero dollar fees grade.
It's made for the words exactly, and then up like
here's three or four great options. So that's that's always
been really helpful for savings account. I used that to
(25:05):
figure out a checking account for Ellis because I needed
an account basically that I could use to pay her
we Basically, she has a debit card and each month,
each week, she gets four bucks that goes in there
basically for her to spend. She can do additional chores
and make extra money, not twenty five cents for claiming
the backyard like Tyson said one time for his kids.
And then from there I was like, okay, nerd wallet,
(25:28):
I want something that's basically a good you know account
for kids. It's safe, that's zero dollars. If you have
a zero dollar balance, you're not going to charge you
thirty five bucks a month or whatever kind of thing.
And so it was like, this is a great one
from Capitol one. So I was like, okay, anyway, that's
a good resource capital I mean nerd wallet.
Speaker 3 (25:46):
Yeah, talking about at the beginning of your little talk,
you just gave talk about financial planners and how you
started when you didn't have much money, and I think
that's another good thing about them, and like why I
didn't realize it is like same with me. I started
when you know, I was living in somebody's basement with
the financial planner, and they helped me every step of
(26:08):
the way, like buying our three houses that we bought,
and then yeah, you know, after I lost it all,
helping me get back on my feet.
Speaker 4 (26:16):
That's a really good point.
Speaker 3 (26:17):
So it's good to have them no matter if you're
feeling like you're balling, or if you're feeling like you're broke.
Speaker 4 (26:22):
And I've never felt I will say, a good financial
planner will not make you feel like embarrassed or feel
crappy like there, for gosh, maybe seven years, we carried
like twenty grand in credit card debt because just the
nature of our business is like we have highs and lows,
highs and lows. And then we moved to New York
(26:42):
and it was hella expensive and we had enough money
at the time. Then a contract went away, then another
one came and it wasn't and I just felt terrible.
I was so embarrassed. I was like, I can't believe
that I have to like confess this to my advisor.
Every time we're going to talk, I can push in
the meeting off because I don't even want to tell them,
you know. And it's like I thought I would be
better than this by now I'm in my midlife, you know,
this is a few years ago. It's like I shouldn't
(27:04):
I shouldn't have that be a problem that I can't
pay for this, you know. And so but he was
always like he was like, look, it's it's not always
going to be this way. There will come a time
when you know you'll pay it off, and these are
the little steps we can be taking now to do that.
And let's just keep moving forward, keep putting money into it,
keep doing thing. And you know, two years ago paid
(27:25):
it all off, finally got to zero, which is great,
not at zero anymore, but was at zero at one point.
And so I think that's something too, to like go
easy on yourself, because you can beat yourself up over
money so easily. I don't make it enough, I don't
save enough, I'm not smart enough with it, like whatever
it is, and you just got to go easy on yourself.
Speaker 2 (27:45):
It causes so much stress. I think it's the thing
I stress out the most about. Yeah, I get thinking
about it too much. I'll get canker source ye.
Speaker 4 (27:52):
But my advice Kirsten was like, you think that contract's
going to renew? And I was like yeah, And then
like four hours later, I was like, it's I had
you even thought about that. I assumed it was going
to renew. Maybe it's not gonna renew, And it was
like yeah to your boys, Ison, like it just keeps
me up sometimes.
Speaker 2 (28:06):
Yeah, And I think the takeaway here for me is
find an advisor of some sorts put money in. You
can never start too early, like I wish. I don't
know why someone didn't tell me to just like as
soon as I was getting a paycheck to start putting
some money somewhere like I have. My brother in law
(28:28):
was buying Apple and Google and Amazon, like in the
late nineties when he was like from high school. He
was like skipping out on going out to dinner with
friends to put five dollars in the stock market. Epic.
And so I wish that someone had now needed to
(28:49):
start Utah.
Speaker 4 (28:50):
He just bought the state.
Speaker 2 (28:52):
I think he's doing pretty well, but I think that
that's like you can't start too early. And you know,
if you tell your advisor what you want or what
you're expecting, then they can help you place it in
different places. Because for me, I don't want to lock
my cash down in case I want to invest in
(29:13):
a company or buy a chunk of a company somewhere.
So I prefer to have something that I can pull immediately.
So I don't do the locked in like wroths or
whatever the locked in ones are for twenty years without
paying penalties. I don't do those ones. But if you
want to just build a retirement in those they pay
out the best. So yeah, that's all that's start. If
(29:37):
you hear this and you haven't started putting money aside
for your future, that's good start right after you listen
to this.
Speaker 3 (29:45):
Yeah, yeah, And like Bradley said, even if it's twenty
five dollars a month, like even if it's five, even
if it's five. And also to the point about money
is so stressful and it can cause all these problems.
I think you just got to realize too. Money comes mine,
he goes, and as long as you are not destitute,
you're probably doing better than most people out there in
(30:06):
the world.
Speaker 5 (30:07):
Yeah.
Speaker 2 (30:07):
So yeah, And in the end, all our deaths will
be painful.
Speaker 3 (30:12):
Right, and you can't take it with you with you.
Speaker 5 (30:17):
That's the true good way to good encouragement there right
at the end, you just saying, why did our listenership
drop off after that Finance episode?
Speaker 3 (30:29):
No, But like we.
Speaker 2 (30:30):
All say facts, facts, uh, And I have to tell
myself that sometimes too. But that's it, Like subscribe, listen, share,
let us know what you're doing with your money in
the comments, and if there's something we miss that we
personally should be doing because we don't have all the answers.
We're here to learn and we're here to grow, and
(30:51):
we do that by all talking together. So keep us
in the loop. If you got some secret investment thing
going on, let us all know, us know, get us
in on that, get us in on that. Okay until
next week. See uh so you fis
Speaker 1 (49:01):
Assass
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