The BEST and WORST Cars (And Which Brands We Avoid)

Car buying is a big financial decision...and new data from Edmunds reveals a troubling trend about how Americans are financing cars. Then we give our opinions on car brands (we're calling it Cruise or Snooze), followed by some expert opinions on the matter. Then we answer your financial questions covering everything from home buying to car buying to our superhero spinoffs. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jump start your journey with our FREE financial resources⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Reach your goals faster with our products⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Take the relationship to the next level: become a client⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe on YouTube for early access and go beyond the podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect with us on social media for more content⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠DRINKAG1.com/MONEYGUY Learn more about your ad choices. Visit megaphone.fm/adchoices

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Speaker 00

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• 0:30Speaker 01

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• 1:06Brian Preston?

  This ought to be interesting. The best and sadly worst cars for financial mutants.

• 1:12Speaker 03

  Yeah, Brent, I am so excited to talk about this because for a lot of people, an automobile may be one of the most expensive things that you ever spend money on. And for most people, you don't just do it one time in your life. You do it over and over and over. And it's not just that we want you to buy a car the right way. We talk about that all the time. We want you to do it right. But we even thought, we want you to buy the right car because in our opinion, when it comes to automobiles, especially when you say that they're like napalm for your finances, not all cars are created equal.

• 1:47Brian Preston?

  Well, I think it's crazy because we all see this trend. We even, we've reacted to it in some of our react videos where a lot of dealerships and others were posting their car payments.

• 1:59Speaker 03

  As a point of pride.

• 2:00Brian Preston?

  And but yeah, and it was over a thousand dollars. I was like, who's doing thousand dollar car payments? Well, we come to find out, one in five people now it's coming, it's just way too comfortable have thousand dollar car payments.

• 2:14Speaker 03

  And I thought it was interesting. Um, I, I've never went and financed a car, even, even when I was younger and I was making not the best financial decision. You know, I was one of those people that graduated or, or, uh, graduated and I got my first big boy job and I went out and bought the car that was way nicer than I should have bought. But even that payment was not a thousand bucks. Once you have a comment, the car payment, that's just sort of a different realm and far too many people have gotten, have gotten comfortable with that. Uh, but there's also sort of this, this caveat, right? So I think people are spending too much on cars, but buying too cheap of a car can also be a problem because we see people say this, oh, I'm gonna, I'm, I'm, I'm gonna go out there and buy a thousand dollar beater. I'm not worried about having a thousand dollar payment. I'm gonna spend

• 2:57Speaker 03

  a thousand dollars in total. And I think that neither one of these are necessarily correct.

• 3:02Brian Preston?

  Well, I mean, and look, we're, we're nerdy enough. There's a better way to do money. We actually backed into, to even afford a thousand dollar car payment. You realize that puts you in a situation of you use 238, you have to make over a hundred and fifty thousand dollars.

• 3:14Speaker 03

  Like double the median household income.

• 3:15Brian Preston?

  That's just not happening. So we were, we were thinking about, hey, well, let's talk about what do people who are good with money do? And we're like, well, we have the perfect resource. We have our millionaire clients. We went and asked them, we said, hey, your current car, how did you pay for it? Did you finance it? Did you pay cash for it? And you can quickly see that the majority actually paid for it. 60% paid straight up cash for it, but there was 40% that financed. But then we modified the question. We asked another one to follow up and said, hey, how about that first car? Cause we know to get to that J O B, that first wealth building opportunity, a lot of us need reliable transportation, exactly what you said. We don't want the thousand dollar beater, the five thousand dollar beater. And we found that 72% of our clients actually financed their first

• 4:00Brian Preston?

  car. They weren't able to pay cash. So that's why I do love the thoughts of following something like 238, 20% down, don't go longer than three years. That's going to keep it, you, you, you conservative on that and don't exceed 8% of your gross income.

• 4:13Speaker 03

  Now, this is where I think our take is going to deviate a little bit from some other creators because you hear us say all the time that. Automobiles can be financial napalm. They can blow up your financial life. But here's what I want you to hear us say, and maybe this is the first time you've ever heard us say it here. We're also not anti-luxury car. We're not anti buying a car that you like. We're not even anti you quote-unquote being a car person so long as it's done at the right time, at the right stage. I think far too often, people jump into it way too early, not recognizing the opportunity, the cost of that decision to buy that nicer, more expensive car today is huge when you actually see what that cost you over the long term.

• 4:57Brian Preston?

  If only there was a better way to do money. And this is what we talk about all the time. Step eight is your friend when it comes to making these big lifestyle decisions.

• 5:05Speaker 03

  So we were talking about cars. We're talking about this stuff and, and Rebi said, all right, well, guys, I think in true money guy fashion, let's play a little game.

• 5:14Speaker 04

  Oh, let's go.

• 5:15Speaker 03

  You came up with an idea. You want to play a game and me and Brian are always open to your

• 5:19Speaker 04

  The team came up with a game that we're going to play.

• 5:21Brian Preston?

  Do we have on-air hands that are going to come on and pinch you?

• 5:24Speaker 04

  Why? Oh, because I'm not wearing green?

• 5:26Brian Preston?

  Yes, come on, Rebi. We noticed this right before we went live. We're like, I stared at my closet going, I don't really

• 5:34Speaker 04

  Honestly, Brian, you barely have any green on, so I'm like a little in the way you're calling me out.

• 5:38Brian Preston?

  That company went out of business, I think. So I mean, this is how old this shirt is, how little green, but somehow

• 5:44Speaker 04

  I honestly forgot. I'm also not Irish, so sometimes I forget. Sorry.

• 5:48Brian Preston?

  Is that, you have to be Irish to

• 5:49Speaker 04

  You don't have to, but like, you know.

• 5:52Brian Preston?

  Top of the morning to you.

• 5:54Speaker 03

  Nailed it. We're gonna need to clip that one.

• 5:57Speaker 04

  This is everything to me. Okay. Well, we do have a really fun game queued up for you. It's called Cruise or Snooze. So I am going to name a car brand to you guys and you give me a thumbs up for Cruise, a thumbs down for Snooze. Basically, is it worth the money to you? So some opinion is going to come into play here. And then you're welcome to give me a quick reason why you would or would not buy.

• 6:21Speaker 03

  Any context? Is this like, hey, for a brand, for a young person buying a car, for someone who's like, what step of the foo are these cars?

• 6:28Brian Preston?

  Or is this for ourselves?

• 6:29Speaker 04

  For yourself.

• 6:29Speaker 03

  Or is this just like in general? Okay.

• 6:30Speaker 04

  In general, broadly speaking, if you heard your friend was buying this, would you be like, oh, okay? Or would you be like, ooh, they should consider this? Okay, Cruise or Snooze? All right. Brand number one, BMW. Cruise or Snooze?

• 6:46Brian Preston?

  For my, I mean.

• 6:49Speaker 04

  They both said snooze. Give me a sentence why.

• 6:53Speaker 03

  Every single repair is so unbelievably expensive. Like you take it in for like a thing and you're one comma in every time.

• 7:02Speaker 04

  Yep.

• 7:03Brian Preston?

  I mean, I think this is the car that people who are in their 30s who are trying to impress people, I mean, use a BMW and truthfully in my neighborhood, like if you drive a, a black BMW X5, you might as well be driving a Honda Accord in my neighborhood. I mean, there's, there's at least 26 of them, I feel like in my neighborhood.

• 7:23Speaker 03

  Yep.

• 7:24Speaker 04

  Alright, good takes, good takes. Next brand is Jeep.

• 7:30Speaker 04

  Brian, what do you think?

• 7:32Brian Preston?

  I love that we used the Jurassic Park version too. Well done Caleb.

• 7:35Speaker 04

  Caleb had to.

• 7:36Speaker 03

  New Jeep or old Jeep and daily driver or just owning a Jeep?

• 7:41Speaker 04

  Just owning a Jeep.

• 7:42Brian Preston?

  I mean, this is, this is gonna, look, I would never, ever, ever, ever, ever buy a new Jeep, but I love used Jeeps. I do love used Jeeps. I had one for many years. If I wasn't blessed with just daughters and a wife that don't like the hair blown, I would still own my Jeep. I sold my Jeep a few years ago.

• 8:00Speaker 03

  The only reason I say snooze is it's fairly impractical for a family vehicle. Like this is like an extra recreational vehicle. For a daily driver, I'm a snooze on a Jeep, being a daily driver after you've kind of started doing the family stuff.

• 8:16Brian Preston?

  Hey, look, on the used Jeep side, I owned that car for like 12 years and I think I made a thousand dollars. Now, I didn't really make a thousand dollars. If you think about, I put like three or four thousand dollar rims on there. I put a subwoofer in the back. Anything a 16 year old wanted, I put on that Jeep.

• 8:31Speaker 03

  It was an awesome Jeep.

• 8:32Brian Preston?

  It was pretty kicking. Every time I went through like a Burger King drive through, they're like, I like your ride. And I'm like, this is the affirmation I so wanted when I was 16 and I was driving around in that beater of a car. This is what I wanted to feel like. So I did it as an older man.

• 8:47Speaker 04

  All right, next brand, another personal one, Tesla.

• 8:51Brian Preston?

  Yo, I see what y'all are doing. Come on, you know I love me some Tesla.

• 8:55Speaker 04

  They both said cruise. No surprise to me.

• 8:58Brian Preston?

  I'm surprised you didn't, you pulled a punch. Bo didn't want to hit me.

• 9:02Speaker 04

  He may just be like, hey, you know what?

• 9:04Speaker 03

  I want to be, I want to be true and I want to be truthful. I do think Teslas are wonderful automobiles for people that it makes sense, the stage and the kids and all that kind of stuff. They're a really, really fun car to drive. I do not presently own a Tesla, but I'm going to say cruise on the Tesla.

• 9:21Brian Preston?

  I will tell you, there is, I always look for crazy arbitrage moments, um, because Teslas depreciate a lot.

• 9:30Speaker 03

  Save it. Don't talk about that yet. We're playing a game. We're playing a game.

• 9:33Brian Preston?

  Sorry. The educator in me just has a hard time going to sleep.

• 9:37Speaker 04

  Next brand is Land Rover. Cruise or snooze?

• 9:42Speaker 03

  Is my wife going to watch this episode?

• 9:44Speaker 04

  You have to decide that for yourself, Bo.

• 9:47Brian Preston?

  I, I mean, I think these things are horrible.

• 9:50Speaker 04

  You both say snooze, let's be honest.

• 9:52Speaker 03

  They're so, I mean, yes, I, I am, I, in, in my financial mutant mind, I'm a snooze. But man, some of them are so cool looking.

• 10:00Brian Preston?

  Have you read a Consumer Reports?

• 10:02Speaker 03

  But man, they look cool, right?

• 10:04Brian Preston?

  If I was ever going to have one of these things, by God, we would rent that thing. Because there is no way I would want to own something that costs this much money to maintain.

• 10:13Speaker 04

  That's a lot of money to maintain. Not wrong. All right, next brand is Kia.

• 10:22Brian Preston?

  Um, I don't know enough. I mean, look, I rent cars every time I go down to Florida to, to, to Preston South.

• 10:28Speaker 03

  Sometimes even when you live in Florida.

• 10:30Brian Preston?

  And I've had Hondas and I've had Kias and, um, and I've had Mazdas. I, I mean, I, I, I don't know how, I don't know how good they are in the long term.

• 10:39Speaker 03

  Is the Telluride a Kia? That's a Kia.

• 10:42Speaker 04

  Ooh.

• 10:43Speaker 03

  I have a bunch of, I have a bunch of family members. It was nice. Like, we wouldn't look, it wasn't quite big enough for my family, but the Telluride was a nice, I've gone on a few trips in them.

• 10:51Brian Preston?

  I, I mean, I'm kind of in between because I don't, I don't know how reliable they are. I, I haven't renewed my subscription to Consumer Reports to keep up with how well, how well Kias do.

• 11:01Speaker 04

  All right, next brand is Nissan.

• 11:07Speaker 04

  Bo says snooze.

• 11:08Speaker 03

  And this is hard because we live in their backyard.

• 11:10Speaker 04

  We do.

• 11:10Speaker 03

  This is where Nissan headquarters is.

• 11:12Speaker 04

  A little close to home. Brian, what do you think? Come on.

• 11:16Brian Preston?

  I don't think, I think, I think that, oh gosh, we're gonna, hopefully none of my neighbors work there unfortunately.

• 11:22Speaker 04

  Brian says snooze, it's up.

• 11:24Brian Preston?

  I think they struggle with some reliability.

• 11:25Speaker 03

  Yeah, I've gone, we went and looked at them when we were car shopping and there are just some other brands I'm sure that we'll talk about that just didn't beat them out. And so for that, I think that the way I'm doing this is would Bo Hanson buy this car?

• 11:36Speaker 04

  Yeah.

• 11:36Speaker 03

  I probably would.

• 11:37Speaker 04

  Wouldn't buy it.

• 11:37Brian Preston?

  I feel like we're kicking them while they're down though. A little mean.

• 11:40Speaker 03

  Well, I'm sorry.

• 11:41Speaker 04

  This is just a fun opinion. Okay. It's all right. It's okay. You guys are so nice.

• 11:47Speaker 03

  I'm like looking at the comments to see how many Nissan people we just offended.

• 11:51Speaker 04

  I, I doubt it. Um.

• 11:53Brian Preston?

  Now if it was a Maxima, I'm just kidding. So that's what I wanted when I was in like high school.

• 11:59Speaker 03

  We all did. That was the cool car.

• 12:02Speaker 04

  Next car brand is Rivian.

• 12:07Speaker 04

  Snoo, oh, oh.

• 12:09Brian Preston?

  Yeah, yeah, yeah.

• 12:10Speaker 04

  So wait, you both, okay, you both said snooze. Brian fooled me there for a second, but you both said snooze. Why?

• 12:15Brian Preston?

  That's because I was looking at what side I could see and I remember, oh no, we're broadcasting.

• 12:18Speaker 03

  If you're going, if you're going expensive electric and you're, why would you go Rivian over Tesla? This is my opinion.

• 12:23Brian Preston?

  Well, I mean.

• 12:26Speaker 04

  There you go.

• 12:26Brian Preston?

  If Elon would have gotten a little more reasonable on the truck design, I mean, because I will say I have a friend who has a Rivian and it's pretty cool. Like he stores his golf clubs right behind the, there's a cargo area right there behind the door. Which is pretty cool for golf clubs and stuff, but I just worry that, I do think from a, from an electrical standpoint, Tesla's got the advantage on some of that stuff. Especially full self-driving, bomb diggity, pretty awesome.

• 12:49Speaker 04

  All right, great. We've got just a few more, so keep us posted in the chat. If you agree, disagree, or want to fight with Brian and Bo, I want to know. The next, uh, brand is Volkswagen. Cruise or snooze?

• 13:02Speaker 03

  Wow, we dug deep.

• 13:04Speaker 04

  We dug deep.

• 13:06Brian Preston?

  I mean, I I've just never, I mean, I'm just not a, I'm not a German engineering, like, you know, I have a friend who only buys Audis. Um, that's not me.

• 13:16Speaker 03

  I think this falls into the high cost maintenance category because I think aren't Volkswagens hard to work on? Like, isn't it hard to find someone who works on Volkswagens? Isn't that a thing?

• 13:25Speaker 04

  I mean, it is luxury and very specialized, yeah.

• 13:28Brian Preston?

  Back in the day, like, the bugs, they were easy.

• 13:31Speaker 03

  Well, Brian, this isn't back in the day. You're talking about.

• 13:33Brian Preston?

  But now.

• 13:33Speaker 04

  How about today?

• 13:35Brian Preston?

  Germans are known for over-engineering everything.

• 13:38Speaker 03

  Yeah, I'm a snooze on, I'm a snooze on VW.

• 13:41Speaker 04

  All right, next is Mercedes.

• 13:42Speaker 03

  Fantastic branding back when I was in high school, like, high school. Remember when they had all the branding?

• 13:45Brian Preston?

  Barf Nugan?

• 13:47Speaker 04

  What?

• 13:48Brian Preston?

  Ain't that what the branding was back when you were in high school?

• 13:50Speaker 03

  No, it was like all the, like, multicolored bugs, you know what I mean? That was the thing.

• 13:54Brian Preston?

  Somebody, somebody in the comments would be like, holy cow, Brian goes deep.

• 13:58Speaker 04

  All right, next brand is Mercedes.

• 14:01Brian Preston?

  No. That one's easy.

• 14:03Speaker 04

  Ah, that was easy. They both immediately said snooze. Why do you say that? Just expensive to maintain as well?

• 14:08Brian Preston?

  I don't even think, you know, they've had, they, they were the whole thing where, you know, became part of Chrysler and so forth. I think that, I think they've always struggled with some reliability. And I don't even know if, I mean, I guess if you're a Formula One fan, you, you love Mercedes and what they do, but it's, it's just not a brand that I'm super into.

• 14:24Speaker 04

  Fair enough.

• 14:25Speaker 03

  As a former Mercedes owner, you heard it first here.

• 14:29Speaker 04

  I was gonna let you reveal that.

• 14:30Speaker 03

  Uh, my wife did have the Mercedes. It was fine, but just like, if you're gonna buy a luxury automobile, if you're gonna make that bad decision, I'd make that bad decision on some different brands than Mercedes, in my opinion. Just didn't live up to the snout.

• 14:43Brian Preston?

  Why didn't we go hit the easy button on that? By the way, if y'all want to know how much control Bo and I have on this, these would not be, I would have been like, where's Lexus? Where's Toyota? Where's Honda? Where's those type of things?

• 14:52Speaker 04

  Oh, come on, this is fun. All right, two more. The next one is Volvo.

• 14:59Brian Preston?

  I mean, let's see how many people we can upset.

• 15:03Speaker 03

  You know what? Aren't they like the safest?

• 15:06Speaker 04

  Well, okay.

• 15:07Brian Preston?

  No Tesla's like the safest.

• 15:08Speaker 04

  Brian says snooze and we have some, I think you're firing some people up in this room on our content team. So please explain.

• 15:14Speaker 03

  Look, Volvo's not, not my favorite. I've never, I've never owned a Volvo, but I feel like I've heard that they're pretty reliable and they're super safe. I don't, are they expensive still? They used to be expensive.

• 15:25Brian Preston?

  You rely, now look, it's been a while since my consumer reports was all updated, but weren't they trying to master a five cylinder engine or something? They were doing crazy stuff with their cars.

• 15:34Speaker 03

  I don't, I don't know about that.

• 15:35Brian Preston?

  Weird reliability when they were trying to go for more efficiency. So I, I, I don't know. Maybe they're reliable or whatever, but my, I'm also probably jaded because my wife, you know, because back in the day, I, I, you, you wanted like the Volvo station wagon. And I remember my wife was so anti that from the get go, that's probably jaded me over the years.

• 15:56Speaker 04

  All right. Last, but certainly not least, and now I'm hoping I'm saying this correct. Winnebago?

• 16:02Brian Preston?

  Winnebago.

• 16:03Speaker 04

  Winnebago. I was like, oh, I don't remember. I've only ever read this.

• 16:07Brian Preston?

  Winnebago.

• 16:08Speaker 04

  Wasn't prepared. Get out of here, Bo.

• 16:10Speaker 03

  Winnebago?

• 16:12Brian Preston?

  I thought, I thought all homeschool kid knew.

• 16:14Speaker 03

  Your homeschooling show.

• 16:16Speaker 04

  I think that I actually, I mean, clearly I love the homeschoolers, but sometimes you've only read things and you realize you haven't heard them pronounced. Cause you're.

• 16:24Brian Preston?

  Yeah, but I thought, like, growing up, like, since y'all weren't in school, y'all were like camping out and, and being with nature and stuff like that. Not in Winnebago, obviously.

• 16:31Speaker 04

  I've never been in a camper like that.

• 16:33Speaker 03

  Have you ever heard their term, have y'all ever heard the term unschooling?

• 16:36Speaker 04

  I have.

• 16:37Speaker 03

  Heard it for the first time at the state park this weekend.

• 16:40Speaker 04

  That's something different.

• 16:40Brian Preston?

  What's unschooling?

• 16:41Speaker 03

  I'll save it for later on in the show, but there's, remind me.

• 16:44Speaker 04

  What do you think of this camper van? Cruz or snooze? They both said snooze.

• 16:50Speaker 03

  Look, if RVs are your thing, that's great. They are not my thing.

• 16:53Brian Preston?

  I've rented a few. I mean, like I, I remember we went to like a Jeep fest back when I had a Jeep and we rented like a camper. Winnebago. Everything's made out of plywood. So, and look, I'm just. I'm the type of person, because it has to be light, because this thing moves every night. I break everything. Everything's just not set up to.

• 17:11Speaker 03

  We're too big.

• 17:12Brian Preston?

  Yeah, I felt like Shrek, you know, you close the bathroom door like, oh, I just broke the latch, you know, just like, oh.

• 17:18Speaker 04

  Doesn't know his own strength. He's too powerful for this camper van.

• 17:21Brian Preston?

  I don't think I'm made to be a, an RV type person. Plus, look, I will say, I tried to rent an RV. I had this idea, this is probably six years ago. I had this great idea that we were gonna rent an RV, drive across country, drive to the national parks.

• 17:35Speaker 03

  Like you and your family.

• 17:36Brian Preston?

  And then we were gonna fly home. We were gonna rent this thing and then fly home. I thought I was a genius. My, my daughter, who's, like I said, about to graduate college, but she was in high school at the time, and she's like, Dad, I'd blow through your data plan.

• 17:47Speaker 03

  Before we got out of the driveway.

• 17:50Brian Preston?

  So, um, I don't think that'll work.

• 17:51Speaker 03

  So, obviously, you know, these were our thoughts, right? These were the thoughts on what do we think about brands, but, you know, there are some other authorities out there, just some like honorable mention things that we thought were worth bringing up and bringing your, your attention. Um, here were some superlatives that were given out. Uh, in terms of automobiles that depreciate the fastest, according to US News and World Report, what is this? We're not playing the game anymore. You just disagree with it. They said that Tesla is the car that depreciates the fastest. As someone who's a big advocate for Tesla, what would you say to that?

• 18:24Brian Preston?

  I would say this, this glass half empty problem actually creates a glass half full opportunity. Go buy used Tesla. I mean, obviously, pay it, do your, do diligence, research on, um, batteries and so forth and knowing. I also would tell people, if you're gonna buy used Tesla, go make sure you understand what hardware package is on that car, because full self-driving has gotten so legit. But you probably want to get the, the, you know, that four and beyond on the hardware package, so that you can really get all those features.

• 18:56Speaker 03

  Love it. All right. The next one was, uh, what car brand in general holds the value, holds its value the best? Toyota. This one was not surprising. This is according to Kelley Blue Book. Uh, I am currently a Toyota owner, and it's true.

• 19:08Brian Preston?

  See how he dropped that in there?

• 19:09Speaker 03

  I just, well, I mean, you know.

• 19:10Brian Preston?

  I'm good at this. I'm good with this thing called money.

• 19:12Speaker 03

  Yeah, yeah. Brian owns the one that depreciates. The fastest, I own the one that holds the value the best. It makes total sense. Toyota, not surprising, one of the best long-term holders of value. If you're someone who drives your car for a long period of time. Safety and liability, Subaru actually came in. I'll be honest, Brian, I don't have a ton of, someone in the comments said, hey, why didn't y'all mention Subaru? I don't have a ton of like, they just weren't super common down.

• 19:38Brian Preston?

  Well, I remember, I always thought about Subaru whenever me and my boys back in high school used to drive. Or even college, go hike up in the Appalachian Mountains, around the Blue Ridge Mountains. And, you know, they'd only let you drive, and this is back in the 90s. Quattro, I mean, or four-wheel cars or all-wheel drive cars was not as common as is now. So it was always the Audis and the Subarus.

• 20:01Speaker 03

  Were the ones that were out there.

• 20:02Brian Preston?

  They wouldn't let you over a certain part in the road unless you could show that you had four-wheel, all-wheel drive.

• 20:08Speaker 03

  Got it.

• 20:09Brian Preston?

  And that's why I think a Subaru is supposedly great for that type of weather. We live in the South, so that's why you probably don't have much exposure to it.

• 20:17Speaker 03

  And then the last part was, what is the best brand to buy used? Now, you may think that Tesla's coming up, because that's what Brian just said, that he would recommend is buying a Tesla used. But actually, the best brand, according to Consumer Reports, to buy used is Lexus. And I don't hate this one either, because I think if you're gonna go luxury and you don't want to go Mercedes or BMW, one of those. I'm actually a huge fan of Lexus. I think that's a great luxury if you're in that stage. Now, it does still count as luxury, so no 238 on that one. I think Lexus is fantastic, but it's say, don't buy it new, don't pay for all that front end depreciation. Buy one a few years old. I think that makes tons of sense.

• 20:54Brian Preston?

  Yeah, I mean, you know, the car that kind of made me, I felt like, was my, I bought an ES350 in 2000. Ah, because, no, it was 2006, because it was a 2007 that I was bought in 2006. Because I loved that I got a free year, essentially, because they redesigned the body style that year. And I drove that car for 12-plus years, and I had not a lick of trouble. I don't even think it had a warranty claim on it whatsoever, until they, like, replaced the airbags. If you remember when Lexus went through all that crazy stuff. But it was, it was a great, great car, so I can, I don't have anything negative to say about that. And those two, by the way, you know. They're related Lexus and Toyota. I'm surprised Honda didn't make it on here.

• 21:35Speaker 03

  I was surprised Honda didn't make any superlative either because again, I've always had wonderful experience with that. And so here's what we want you to take away from this. Obviously, we talk all the time about buying a car the right way. We want you to do 23/8, 20% down, don't finance for any more than three years or 36 months. And we don't want your car payment to be more than 8%, but also the kind of car you buy matters. Don't go out, contrary to some other opinions, going out and buying a thousand dollar car may not be the best financial decision. There has to be likely somewhere in the middle that could potentially make sense. So when you go to make the car purchase, don't make sure, don't just make sure you're doing it the right way. Make sure you're buying the right thing because the better the decision you can make,

• 22:19Speaker 03

  the more impact it's going to have in your financial life over the long term.

• 22:23Brian Preston?

  I think this made me feel a little, because obviously I go on vacation and they try, y'all tried to figure out how y'all could pick on me.

• 22:29Speaker 03

  No, no, no, no, we didn't do that.

• 22:31Brian Preston?

  Also, I hear while I was on vacation, y'all came out and decided, you know what? Marvel's got this whole multiverse. Why don't we come up with money verse?

• 22:41Speaker 04

  Absolutely.

• 22:41Brian Preston?

  Love it. It sounds like, you know, and I was, I was feverishly because, you know, I just came back from vacation. So I haven't caught up on everything. I was trying to get myself in this thing before the show. I ran out of time, the buzzer beater, because I realized, holy cow, I've got like, you know, my mother's maiden name, you know, and, and my pet names.

• 23:01Speaker 03

  Everything you grew up on.

• 23:02Brian Preston?

  All, all the things you don't want the public to see. I had in my original Discord setup. So I didn't have enough time to get it all set up before I was able to wade into the waters.

• 23:12Speaker 03

  I have, you know, this is what a week old now. It's been incredible. I've loved being in there. Can we get a quick poll for our audience right now, guys of just yes or no? Have you been in the, have you been in the money verse, right? Because I want to know how many of you guys out there, it's awesome. If you're not familiar with what it is, it's the ecosystem where we get to hang out 24/7. We can ask questions. We can celebrate milestones. We can chat. There's all kinds of amazing stuff that we're able to do and we're able to stay connected. And you guys may be wondering, well, man, are, are Brian and Bo and Rebi and the team going to be in the money verse? Absolutely. It's turned into my new little guilty pleasure that when I'm just like on my phone, I'm not scrolling through social, I'm scrolling through the money verse.

• 23:53Speaker 04

  So yeah, if you post in the finance questions channel, I mean, there's no guarantee Bo will be in there answering you, but.

• 24:00Speaker 03

  But there's a good chance.

• 24:01Speaker 04

  He has been.

• 24:02Speaker 03

  There's a good chance I'm gonna be in there.

• 24:04Speaker 04

  So definitely take advantage.

• 24:06Brian Preston?

  Bo, Bo, Bo, you spoke big words this morning. You said, cause Bo knows I, I, I'm out there on X getting ticked off at the world. Because there's just so much, you know, just craziness in the world these days. Bo says, I predict that you're, this money verse is going to take the place of how much time you spend.

• 24:22Speaker 03

  I think so.

• 24:23Brian Preston?

  Reading news and stuff like that. So.

• 24:25Speaker 03

  Well, cause a lot, you know, a lot of times like on YouTube and the comments and stuff, you don't know if you're talking to like your people or not your people, right? Like people kind of come in or whatever. What I love is that if you're in the money verse, you probably are a financial mutant. You want to be hanging out with financial mutants. And so it's an awesome, awesome spot. So if someone wants to go get in that discord, be on the server, where do they go, Reeves?

• 24:44Speaker 04

  Go to moneyguy.com slash moneyverse. You guys have blown me away with how active you have been in there. We're posting weekly surveys and discussion points and honestly, you guys are crushing it. You are answering each other's questions. You are discussing what's going on in your financial lives. And that was exactly what I was hoping would happen. So it's really cool to see all of the connections being made and just get to chat with you. Uh, whenever we want to, honestly, which is amazing.

• 25:07Brian Preston?

  We, I mean, I literally just have seen a sliver of this because you, you did a screen share earlier this morning in the content meeting. And people posting wedding, like the anniversary photos and stuff. And I was like, holy, this is a really cool way to connect.

• 25:20Speaker 04

  Yeah. We had one fellow financial mutant this morning post in milestones that he crossed millionaire status today.

• 25:26Speaker 03

  Let's go.

• 25:27Speaker 04

  So we like, we got to celebrate that. Like that's what we talk about on the show all the time. And so it's cool to see it in real life and be able to, you know, say, we're so excited for you in the chat.

• 25:37Speaker 03

  And look, I'm not saying that we're always going to like tell secrets and give away stuff a little bit early. But if you go out in the money verse, uh, it's just a little bit more comfortable. We get to share some stuff. So there's some stuff out there that we get to talk about, uh, that I think you guys would love.

• 25:52Speaker 04

  Oh yeah. Bo, Bo was basically channeling his Brian Preston.

• 25:55Brian Preston?

  Yeah. Cause I don't keep secrets.

• 25:56Speaker 03

  I just let some stuff out of the bag.

• 25:58Speaker 04

  He, uh, messaged me separately and was like, can I post this?

• 26:02Speaker 03

  I'm going to say this.

• 26:03Speaker 04

  And he didn't do anything away, but he like. Hinted at something and I'm not telling you where it is or what it is, but he was hinting at things.

• 26:10Speaker 03

  But it's in the money verse.

• 26:11Speaker 04

  You're probably going to get that in this money verse for sure.

• 26:13Speaker 03

  So I love, I love that we get to talk about, okay, how to make good financial decisions. I love that we get to have this money verse where we get to interact with our people. But I also love that we get to show up here, Brian, every single Tuesday at 10 a.m. And answer your questions and load you up with the things that you care about. So right now, if you have a question you want us to weigh in on, we have the team out in the wings, collecting those questions. Make sure you get them in the chat because we believe that there is a better way to do money and we want to answer the things that you care about. So with that, Creative Director Rebi, I'm going to throw it over to you.

• 26:47Speaker 04

  We're going to kick it off with Hector's question. It says, hi money guys. My wife and I, both 34, just bought a 500K home with 20% down, 6.4% 30-year mortgage. She wants to pay it off early. I would rather invest the extra cash. What are your thoughts?

• 27:07Speaker 03

  34?

• 27:08Speaker 04

  34.

• 27:08Brian Preston?

  I'd love to know how much they had in investments. There's no, there's no information here on what their investments.

• 27:13Speaker 04

  Hector, if you're out there, let us know how much you got in investments.

• 27:15Brian Preston?

  And then I would really encourage Hector, you need to know, are you ahead of the curve, behind the curve, or right where you're supposed to be? I'd go to moneyguy.com. Actually, it's learn.moneyguy.com so you can know your number course. Because you got to figure out where you are. Cause it's really, it's more of a worksheet to kind of put in assumptions. So you can figure out, because what I would hate is for you guys to be debt free, but then not have ever built your army of dollar bills. And you're going to realize you have a very unique opportunity in your twenties and thirties especially, to really let that wealth multiplier do the heavy lift for you. Really, you make wealth building easy when time is, is, is a strong element in your arsenal of tools.

• 27:57Brian Preston?

  And, and I just worry if you, if you focus on all the debt prepayment while you're in your thirties, instead of waiting until you're in your late forties or fifties, there's going to be some huge opportunity cost.

• 28:08Speaker 03

  Yeah, one of the questions that I'd Hector, that I'd want to ask your wife is hey, why do you want to pay this off? Like, what's the goal? Because like, let's say that we increase our mortgage payment, we want to pay it off quickly. Well, it's still going to take years, likely decades to do that. And the question be, okay, why? What does that unlock for us? What's the goal of being debt free? And is our goal to have the lowest mortgage balance possible at all times? Or is our goal to ultimately be debt free one day to own our home and be financially independent? Because I would argue there might actually be a better way to pursue that goal and be debt free sooner than aggressively paying off that mortgage. Because right now, 6.4% in the context

• 28:51Speaker 03

  of interest rates over the last five, six, seven, eight years seems high. But it's not, it's not that high, right? It's not like super, super high. But there even might be a chance that as rates continue to fall and we get down to 6.1, 6% maybe into the fives, you might even have an opportunity to refinance. And all of a sudden now, a five and a half, 6% mortgage for a 34 year old just is not going to be that egregious. So I want to know, what do you have in outside investments? Does Zach O'Brien said, are you head behind, on the curve? And then why do you want to pay off? Or why does she want to pay off the mortgage? What's the like underlying thing behind that? And might there be a better way for you to accomplish that goal without increasing the month in mortgage payment?

• 29:35Brian Preston?

  And if her answer is that it just feels it'd make her feel safe, it takes some risk off the table. I always remind people is that you really only take that risk off the table when the mortgage is completely paid off. Because what banks are not good at is that once that money's put into, you prepay this stuff so fast. If you hit a rains that pours moment, when I mean rains that pours, it means bad stuff is happening. The stock market's getting beaten up, the real estate market's getting beaten up, you lose your job. You're going to want access to capital. Now, hopefully, you obviously step four is financial, you know, having your cash reserves. But even beyond that, if you get into a really dire situation, I like being able to have assets that I can have.

• 30:18Brian Preston?

  Have access to easily. And I think that you might actually have less risk if you're building up other investable assets in the background that will also be your future retirement. It's a multifaceted, multi-value structure there versus just loading it up, being a debt crusader. You might find yourself in a pickle of a situation if you haven't paid it off to create that margin. That's what I always remind people is that it's really only gets good after it's fully paid off. And that's more than likely to take years upon years. Meanwhile, in the background, you could be building it up and building up assets. And then even being able to pay off that debt even faster, if your army of dollar bills, you know, creates its

• 31:01Brian Preston?

  own arbitrage and exceeds the performance of what your mortgage rate is. That's right.

• 31:06Speaker 04

  Hector, hope that helps. Thank you for asking the question. It is your lucky day because today is Tumblr day. So if you would like a Tumblr, just email [email protected].

• 31:15Brian Preston?

  Do you see what's gonna happen for Hector? He's gonna start making his morning coffee. He's already, his wife is gonna be like, those are the guys that told you not to pay off the mortgage. And you're like, yep, that's the ones. So I don't know if we're creating, you know, so hopefully, hopefully you turn that that frown upside down with your wife. So she also is a financial mutant with us.

• 31:36Speaker 04

  Absolutely.

• 31:38Speaker 00

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• 32:08Speaker 01

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• 32:38Speaker 04

  All right. Next one is from Dan 4224. It says, "Hey, money guys. I know that despite market turbulence, you recommend always be buying," or ABB, as Brian likes to say.

• 32:49Speaker 05

  ABB!

• 32:50Speaker 04

  There it is. "If I have extra money to invest, do you still recommend index funds or can I invest in individual stock?"

• 32:58Brian Preston?

  Oh, wait a minute. We covered a lot of ground there.

• 33:00Speaker 03

  So, that's his real question is, "I've got some excess money. I've got some powder money. Look, always be buying. I get it. What should I buy? Should I buy, if this is like above and beyond my like normal standard savings, should I buy individual stocks or index funds? What say you?"

• 33:17Brian Preston?

  Well, I mean, I think it's a time and a place. I mean, that's why we created a system called the Financial Order of Operations. And I feel like for young people especially, I don't, Dan didn't give us his age in here, a lot of people are trying to cut off the corner of wealth creation. And they'll, you know, get into doing individual stocks. They'll do crypto. They'll do other things. When I always say, "Look, until you get to step eight, let's stick to the plan." So if you, as long as now, look, Dan, if you're in step eight and you actually, because that's where you get to unlock additional lifestyle. That's where you get to unlock if you want to start using cash as a, you know, as a, being your mini Warren Buffett. And it's also when you can maybe get into residential rental property

• 33:58Brian Preston?

  or you could start playing around with individual stocks. But I wouldn't, I wouldn't try to push it before that, that point.

• 34:05Speaker 03

  Yeah, I think it, you have to be at the right stage. And then even if you are at that stage, one of the questions I'd ask is, when you're an individual stock investor, generally speaking, there's a few decisions you have to make. What company do I want to buy? What do I deem is the appropriate stock price to enter into this position? And then realistically, you ought to be thinking about it. What stock price would I think about exiting that position? Like, if you're going to be like a good stock investor, that's the way that you would approach it. When it comes to index funds, when it comes to just buying the market, when it just comes to participating in the general market movement, you really only have to answer one question. It's how much can I invest? Right? I mean, I guess you gotta pick, you know, what index and that kind of stuff. But let's just say we're looking at large company stocks versus just buying the S and P 500.

• 34:48Speaker 03

  It's really easy and has no mental calories at all. Just buy the index, buy the index, buy the index, buy the index. So that way, if Apple does good, you make money. If Nvidia does good, you make money. If fill in the blank does good, you make money and you're not having to worry about, okay, how's my individual position doing? And, oh, man, it just went down 15%. Does that mean that something's happened with the company and there's been a fundamental shift and I need to exit? It just removes the decisions that you have to make. Again, nothing necessarily wrong with individual stock investing at that stage, but for me, what I do with my money, where I'm buying, every single month when I'm buying, I'm just buying index funds.

• 35:26Brian Preston?

  It's like our friend Charles says, do this with your vacation money, not your eating money.

• 35:31Speaker 03

  That's right.

• 35:31Brian Preston?

  So that's why I say follow the Financial Order of Operations until you get to step eight.

• 35:35Speaker 04

  Dan4224, thanks for your question and we'd love to send you a Money Guy Tumblr as a thank you. So email [email protected] if you would like one. If you would like to be part of our rapid fire segment, go ahead and get those questions in the live chat right now.

• 35:51Speaker 03

  I forgot about it. Didn't I forget? I figured, oh, we played a game. I bet we're not doing rapid fire today. Look at that.

• 35:55Speaker 04

  I decided to do it. Put RF at the beginning of your question and we'll know that that is for the rapid fire segment. We'll do another long form question or two and then we'll dive into that. So get those questions in the chat.

• 36:06Speaker 03

  Did you know that last week Rebi did a rapid fire segment?

• 36:09Brian Preston?

  Oh, no.

• 36:10Speaker 03

  We let people rapid fire Rebi and it was awesome. She did great.

• 36:14Speaker 04

  Yeah, it was fun. We changed it up too, but we'll tell you about that later. All right. Connor E. has a question. It says, Hi Money Guy team. I was asking to teach, I was asked to teach a local youth group of 17 year olds about finances.

• 36:29Brian Preston?

  That's awesome.

• 36:29Speaker 04

  What would be the most significant thing I could tell them to help them start their financial journey?

• 36:35Brian Preston?

  Oh, I love this question.

• 36:36Speaker 04

  I can see you guys just like, oh, where do we begin?

• 36:38Speaker 03

  You go first and I'll try to think of something that you don't say.

• 36:40Brian Preston?

  The thing that I always, you know, highlight, you know, we talk about the three ingredients to wealth is, you know, that the discipline, creating margin on your life by living on less than you're making them, maximizing the time, those are the, the kind of the three components. So I always kind of highlight that thing when I, when I talk to, to, to young people, the, the wealth multiplier. And then I have a great illustration that we even put in Millionaire Mission because it's the thing that I remember being so excited about is I showed somebody who started investing, and you could talk about for 17 year olds and use our wealth multiplier for 17 year olds. But I think in the book I used like a 20 year old who saved and invest every month for only for 10 years.

• 37:18Brian Preston?

  So just during their twenties and then they stopped versus the person who started saving and investing with even more money in their thirties, all the way to 65. And the person who started in their thirties could never catch the person who just started in their twenties for, for 10 years. So it's, it's just early and often for young people is the easy button to if you want to be wealthy. Cause remember what Mr. Morrow taught me when I was in my junior year of, of high school was if I could just save a hundred dollars a month, I would be a millionaire. And with that thing, it just, I was like, I can do this.

• 37:52Speaker 03

  Just, just do something. Just start doing something and never, ever, ever, ever stop. Um, I have a, I have some dear clients. It's a multi-generational family that I work with. Um, and the parents, they had, you know, they had young children when I first began working with them that were like around the age of like 10 or 11. And based on the grandparents estate plan, you know, there were some annual gifting that was happening. And the grandparents wanted the young kids to learn about investing. Say, hey, will you meet with us? So I would sit down with them at like 13 and I think one was like 11, one was 13, one was 15, something like that. And I still remember one of the daughters, I sat down and I was kind of explaining to her how compound interest works and I was showing her, you know, how the money can multiply. We're talking about what stocks are and how they work and that sort of thing.

• 38:37Speaker 03

  Well, as she got a little bit older, she got her very first job and she got one, you know, one of the gifts and I was like, hey, we can invest this money. This is great, but one of the really keys to investing is not like investing like big, you know, chunks of money, big lump sums. It's just starting to do a little bit, very, very consistently, do that for a long time. And she goes, well, I've got this job. What if I just started saving 20 bucks a month? I was like, oh, that, that sounds incredible. Let's do that, right? And so when she was 15 or 16 years old, we turned it on, started in 20 bucks a month. Today, now she is a client of her own, right? She's in her mid twenties and the other day we were talking, she still has that same $20, like we never changed. She still has that same, even though now she's got the 403B and she's putting money, like she's making all, and it, and I'm like, you realize that one decision you made back

• 39:21Speaker 03

  then is probably one of the most valuable decisions that you can ever make. So if you can just get the 17 year olds to grab onto that, you realistically can change their entire financial lives.

• 39:32Brian Preston?

  Connor, let me go ahead and prime the pump on this wealth multiplier discussion. By the way, you can go to moneyguy.com/resources if you want to know specifically what your wealth multiplier is, but for a 17 year old, every dollar that comes into the control of these 17 year olds has the potential to become $119. So that's, that's amazing by the time they retire. If you want to become a millionaire, have your own Mr. Morrow moment, they only need to save and invest $71 a month and they will be a millionaire. If they wanted to know how to be a multimillionaire, $2 million, it's 141. It's amazing how math works. Just cool stuff. Good luck on planting those seeds of success and hopefully you're successful.

• 40:17Brian Preston?

  Let us know how it goes. Maybe you can do that in the money verse.

• 40:20Speaker 04

  That's great. That would be awesome. We'd love to hear.

• 40:23Brian Preston?

  I can't wait to get in there.

• 40:25Speaker 04

  Moneyguy.com slash.

• 40:26Brian Preston?

  I'm not even gonna tell people what my screen name is because I want people to kind of figure out who I am once I get in there. I've got all kinds of crazy things working.

• 40:32Speaker 03

  I actually don't know his screen name. I'm gonna make a guess, though. I bet it's Quat Quat Quat. You think that? I bet that's his screen name.

• 40:38Speaker 04

  What if that was your screen?

• 40:39Speaker 03

  Is that it?

• 40:40Brian Preston?

  No, that's not it.

• 40:41Speaker 03

  That'd have been a good one, wouldn't it?

• 40:42Speaker 04

  Well, when Bo got in there, people thought somebody was impersonating him. They didn't believe it was really him. So we had to give him a special role that was like, this is the real Bo.

• 40:49Brian Preston?

  Did he then just tell them what his bench press was? And then, oh, that has to be Bo. The only people that can lift that much weight is Bo.

• 40:56Speaker 04

  That's funny. Well, Connor, if you would like a Money Guy Tumblr, since we answered your question, just email [email protected]. All right, one more long form, then we'll move into rapid fire. This question's from Messy Middle WP. It says, "What are the pros and cons of applying for an extension on my taxes? All my family put an extension for multiple years, then seemed to play catch up. Is there an arbitrage that I don't see?" I think this is a good question because like, it's, people do it for a reason, but what are those reasons? Let's talk about it.

• 41:29Brian Preston?

  What's funny is I was, I was down on spring break last week, and one of the couples we were down there with, they also own a business.

• 41:36Brian Preston?

  He actually, Bo, it shocked me because they own multiple businesses, and he filed, his accountant was filing their business returns and their personal returns. I was like, "Help, show me the way."

• 41:46Speaker 03

  Does not happen. That sounds amazing.

• 41:49Brian Preston?

  I, I, I, look, the part I always share with people is that, um,

• 41:56Brian Preston?

  keep your life simple. If you, if your life is simple, you know, if you, if you can file your taxes, of course you can file your taxes. I think that's the thing. I, I have found from my own personal life, because, you know, with all these profit sharing calculations, all these other business ownerships. Life, success creates complications, so I now have to file extensions out of necessity. We crave to file it on time.

• 42:16Speaker 03

  I wish we could file on time.

• 42:18Brian Preston?

  I will tell you, I don't know if this is even true anymore. I mean, because I, I used to tell this, this, this, I'll, I'll tell you the anecdote, but I'll also put the disclaimer. I have no idea if it's true. But years ago, when I was in the tax game and preparing taxes professionally, we would share that the word on the street was is that if you filed your taxes on time, you had a likely, more likelihood of being audited faster because they met their numbers. Now, the odds of you're getting audited anyway is so slim to none that I think that that doesn't really move the needle. But for me, it was more about, you know, when could I get the tax return organized and filed with all the appropriate information because unfortunately with profit

• 43:03Brian Preston?

  sharing and all the businesses, it just doesn't happen by April 15.

• 43:06Speaker 03

  So a few thoughts. There, in my opinion, Messy Middle, there's not really an arbitrage to be had because one of the things that's true is even though you can extend the filing of the return, you cannot extend the paying of the taxes. Your taxes are still due on April 15. So it's not like you can wait until later in the year to true up. If you do that, you're going to get hit with penalties and interest. So what most people do is they file an extension, they make some sort of payment with the extension. Well, if you overpay, which is what you should do if you're filing an extension so that you don't get hit with penalties and interest, what you're really doing is you're giving the government an interest-free loan. And when you get that money back as a refund later when you receive it, you kind of lost out on that.

• 43:50Speaker 03

  So there's not really an arbitrage or benefit to doing that unless, and this is the one thing where you do have a little bit of caveat, a lot of retirement plans, right? If you need to fund profit sharing or you need to fund cash balance, but you don't quite have the capital to do that, but you know that you're going to have money and receivables coming in, you can file an extension to push back your filing timeline so that you give the business enough time to create the capital, then be able to go fund the profit sharing or go fund the cash balance. So it does extend your window just a little bit to be able to do those things. It's not really an arbitrage as much as it is a flexibility if you're having a cash flow constraint from a timeline standpoint.

• 44:30Brian Preston?

  I love that. That's a, because it is true. Like Roth IRAs, your HSAs, all those things need to be funded by April for last year's funding. But you do get a kind of a cool thing if you're, you know, doing SEP IRAs, solo 401Ks, anything with profit sharing or employer-funded, following that extension lets you make those contributions all the way up until those extended deadlines. Pretty cool stuff.

• 44:56Speaker 04

  Great question, messy middle WP. If you would like a Tumblr, just email [email protected].

• 45:02Brian Preston?

  By the way, I love the screen name, messy middle. You know, it's one of those things that we're very proud that we hopefully give comfort to all those who are struggling with the messy middle. If you're short on time, you're short on money, but don't worry, life is still awesome because those years are, you know, the days are long, but the years are short.

• 45:20Speaker 03

  That's right.

• 45:21Speaker 04

  True that.

• 45:22Speaker 03

  And that middle is messy, amen, Remy?

• 45:24Speaker 04

  It is. It's fun, though.

• 45:27Speaker 03

  You know what's going on in my life right now?

• 45:28Brian Preston?

  What's going on?

• 45:29Speaker 03

  Every time my kid goes to the dentist, it's like, it's just a ton of money. Like, ever they go for cleaning, it's just, my kids, it's like, they just, ah, poor.

• 45:37Brian Preston?

  So, are they like getting fillings and stuff?

• 45:38Speaker 03

  Yes, it draws me nuts, so.

• 45:40Brian Preston?

  So, do they have bad, because, look, I grew up as a, I have meticulous dental health now because of my childhood. Because I felt like I had a mouthful of fillings, but as I've gotten older, I've realized, I think I was just genetically flawed.

• 45:52Speaker 04

  I think a lot, yeah.

• 45:54Brian Preston?

  It's genetic. I think my teeth design, you know, is more susceptible.

• 45:57Speaker 04

  Some people just lean towards that, yeah.

• 46:00Brian Preston?

  I shouldn't say this on air. She doesn't have the same dental hygiene stuff, but she doesn't get, she doesn't get.

• 46:06Speaker 04

  She does not have to.

• 46:07Brian Preston?

  She doesn't get cavities because I think she's just genetically better than me. So, it's, it's not.

• 46:13Speaker 04

  She's genetically better.

• 46:14Brian Preston?

  If you're, if you're, cavity exposure was by work ethic, I would be, you know, cavity free.

• 46:21Speaker 03

  I just, oh, it draws me, and like, it's fine, we're gonna be fine. I just, it's annoying because I'm like, oh, girls, floss your teeth better.

• 46:28Speaker 04

  I know.

• 46:28Speaker 03

  Floss your teeth better.

• 46:29Speaker 04

  But, yeah, it is true. Brian's not wrong. Like, maybe they do and they still are just, have a, you know.

• 46:35Brian Preston?

  So, go easy on them.

• 46:36Speaker 04

  A predisposition towards those types of issues.

• 46:40Speaker 03

  Every time I say, "Do better." It's like, hey, do you know, you know how long, I was telling my eight-year-old this yesterday, you know how long it takes for you to pay this dental bill? And she was like, "No, Dad, how long?" I was like, "Well..."

• 46:50Speaker 04

  You're like, "Long time."

• 46:51Speaker 03

  It wasn't, it wasn't well thought out. It wasn't well thought out.

• 46:55Speaker 04

  That's hilarious. All right, it is time for our "It Does Not Depend" rapid fire segment where Bo and Brian answer your questions in 30 seconds or less. Yes, that is a new twist. We have a 30 second timer queued up today.

• 47:10Brian Preston?

  For cumulative?

• 47:11Speaker 04

  Cumulative.

• 47:12Brian Preston?

  Oh wow, okay.

• 47:13Speaker 04

  And so, yes, you have to answer it in 30 seconds or less and you cannot say "it depends." Now, to ease your anxiety about this, at the end of the rapid fire segment, we will do a brief, maybe it does depend, segment where you can say anything you didn't get to say in those 30 seconds and clear the air if necessary, alright?

• 47:31Brian Preston?

  And I'll say the quiet part out loud. Brian, don't Bogart the 30 seconds. Okay, go ahead.

• 47:35Speaker 04

  I'm gonna just see how you guys handle it.

• 47:37Speaker 03

  You can have the first one first.

• 47:38Speaker 04

  It's gonna be a fun twist, cuz you guys, honestly, y'all were crushing 60 seconds. You were doing too well, so we have to change it up.

• 47:43Speaker 03

  Buckle up, Reeves. We're gonna crush 30 seconds as well.

• 47:46Brian Preston?

  I can name that in three tunes. Keep going, I'm sorry.

• 47:50Speaker 04

  What? Okay, we're gonna move forward. I will read the question and then the 30 second timer will start, so let's go. The first question is, first car, current car, and favorite car that you've owned. Go.

• 48:06Brian Preston?

  First car is a 1984 Ragolier Chevy Cavalier with the F41 package. Bo, you do first cuz I can't remember what the second.

• 48:18Speaker 03

  Uh, first car was 1995 Suzuki Rodeo. Uh, current car is a 2019 Tundra Platinum.

• 48:26Speaker 04

  Woo!

• 48:27Speaker 03

  Uh, and favorite car is the Tundra right now.

• 48:30Brian Preston?

  Okay, and then I have a, I have a Tesla Model X Plaid.

• 48:36Speaker 04

  And that's it? Okay.

• 48:37Speaker 03

  Now, we don't know which one his favorite is. We'll never know.

• 48:39Speaker 04

  We'll never know. You can make your guesses. Next question is, I'm retired at 52. Should I try to find a way to contribute to a Roth IRA? My wife is retired as well.

• 48:50Speaker 03

  If you're both retired, you don't have an earned income, you can't contribute to a Roth, but perhaps you should consider doing Roth conversions.

• 48:57Brian Preston?

  Yeah, I mean, that's and then look, and if you start doing some side hustle stuff, of course, fund the Roth IRA, but I wouldn't make it a requisite because more than likely, exactly like Bo said, you could do Roth conversions with your low earned income. I don't know how big your investment portfolio, but you might have some tax arbitrage opportunities.

• 49:14Speaker 04

  Well done. Next question. Aside from Greatest Showman, what other movie dynamic duos would Bo and Brian be?

• 49:22Brian Preston?

  Turner and Hooch?

• 49:26Speaker 04

  What?

• 49:26Speaker 03

  Thelma and Cash?

• 49:28Brian Preston?

  Tango and Cash?

• 49:30Speaker 03

  Uh, I'm trying to think about some really good superheroes, but not the two that people want to say immediately.

• 49:36Brian Preston?

  Batman and Robin?

• 49:37Speaker 04

  No, that's not who you would be. That's the thing. That's not it. It's not it.

• 49:41Speaker 03

  Um, other good dynamic.

• 49:43Brian Preston?

  Walton Roy?

• 49:44Speaker 04

  I'll take Walton Roy for you guys, yes.

• 49:46Speaker 03

  Warren and Charlie, right? Like, there's some good duos out there.

• 49:50Speaker 04

  Yep.

• 49:50Brian Preston?

  Um, what was, what was Michael Eisner's right hand guy? The guy who died in the helicopter? That's the other one at Disney. Um, Wells? Did I get that right?

• 49:58Speaker 04

  I don't know. I don't know this.

• 49:59Brian Preston?

  Yeah, he's the quiet. The most people don't remember how, was it Frank Wells? He's super powerful.

• 50:05Speaker 04

  Oh, I think we're over time. Okay.

• 50:06Speaker 03

  Which one of us is the quiet one?

• 50:09Speaker 04

  All right. Next question is what percentage of net worth should a retiree spend on a newer car?

• 50:16Brian Preston?

  Net worth?

• 50:17Speaker 03

  Percentage of net worth? I don't think it's a percentage of net worth. I think it's a percentage of either liquidity or income. Like, how much income do you have going in? Or how much liquidity do you have? Or you could just pay cash for it?

• 50:30Brian Preston?

  Yeah, I just want you to pay cash and then make sure it's not, it's more of backing into the math of not stressing out the system by looking at your monthly cash flow compared to your, your investable net worth.

• 50:43Brian Preston?

  Did I say depends there? I didn't mean to, if I did.

• 50:45Speaker 04

  Did you? I didn't catch it.

• 50:46Speaker 03

  I don't know if I like this, but someone just said, Brian is Tony Stark and Bo is Peter Parker. Now, like, don't get me wrong. Spider-Man's cool.

• 50:56Brian Preston?

  Bo has bigger biceps than Peter Parker.

• 50:58Speaker 03

  But I don't know that I'm like a Pete, you know.

• 51:01Speaker 04

  I think you would be like.

• 51:02Speaker 03

  If we were to come to a counter, if he's Tony Stark and we're trying to think about all the Marvel folks.

• 51:07Speaker 04

  Yeah, what about like Captain Marvel or anybody else?

• 51:10Brian Preston?

  Can we deal into what that means? That means I'm rich and nerdy. That means Bo, they look at you as young. Now, they obviously don't know how much you can bench press, but it's still a compliment.

• 51:18Speaker 03

  Of all of those.

• 51:19Speaker 04

  Spider-Man can bench press a lot.

• 51:20Speaker 03

  It seems like there's one or two that I would really lobby for inside of that universe.

• 51:25Brian Preston?

  I pick on Bo's bench press. It's probably, he'd want to probably some cling or jerk or there'd be some other leg exercise. He'd probably want us to actually brag on him more.

• 51:35Speaker 04

  Maybe next time. He can let us know. All right. Next rapid fire question says, I'm 20 years old, running my own couch flipping side hustle while studying accounting in college. Uh, it says 60K a year, so I think he's making 60K a year. Uh, do I pursue?

• 51:50Brian Preston?

  To a video on a couch flipper. That's why I'm laughing. Keep going.

• 51:53Speaker 04

  The question is, do I pursue a career in accounting or strive to my dream of owning my own business?

• 52:02Speaker 03

  This is not specific advice, but what I would say is I think getting the degree in accounting will set you up later in life. Meaning if you go and try to be an entrepreneur now, it's really hard to go back and get the accounting degree. If you get the accounting degree now, very easy to go become an entrepreneur in the future.

• 52:17Brian Preston?

  You know, everybody wants to be in business with me is because I have this accounting background. So, cause you always, no, it's seriously all through my life.

• 52:24Speaker 03

  Everybody wants to be in business.

• 52:25Brian Preston?

  People, when they come up with these ideas of sorry, but they want me because I do the bookkeeping and do the taxes. I know how business works.

• 52:31Speaker 04

  Great points.

• 52:32Speaker 03

  Everybody wants to be in business. I like that.

• 52:34Brian Preston?

  Think about, I could go through stories.

• 52:35Speaker 03

  Hey, I'm with you. I'm in business with you. I get it.

• 52:38Speaker 04

  Clearly Bo wanted to be in business with me. He can't argue. All right. As a young investor, should we consider double leveraged market index funds?

• 52:48Brian Preston?

  Beau, why don't you tell them about the time burn on there? What's that?

• 52:51Speaker 03

  Time decay.

• 52:53Brian Preston?

  Time decay.

• 52:54Speaker 03

  Inside of these levered funds, it's not like, people think, oh, if the S and P makes 10% on average, and I go triple levered, that means I'm going to make 30% on average. That's not the way that levered funds work. There is a specific time decay that even though you might be thinking you're going to hold it for long term, the way that they recalculate every single day, you will not get compounding growth unless you get a long stream of momentum ups.

• 53:17Brian Preston?

  Momentum, that's what I was gonna say. Momentum is the word I would use with levered funds.

• 53:21Speaker 03

  Man, that was not long enough.

• 53:24Speaker 04

  All right, next question is currently engaged. Do I follow my single foo or what our married foo will be?

• 53:32Brian Preston?

  Well, you're not married yet, so you follow your single, but as soon as y'all two become one, that doesn't mean that this gets into your structure. That's a whole nother question, but I definitely like looking at household for family members once they're married.

• 53:44Speaker 03

  I think there's a glide path, right? You're single foo today with an eye towards what's the married foo gonna be? Because you are kind of like moving into that realm, so I completely agree.

• 53:55Brian Preston?

  And that's where the complexity happens. You know, life creates complexity.

• 54:00Speaker 04

  All right, next question. If I max out my Roth IRA, can I still contribute to my Roth 401k?

• 54:06Speaker 03

  Yes.

• 54:07Speaker 04

  Yes, I knew that was easy, but there you go. Rapid fire.

• 54:11Brian Preston?

  By the way, if you want to know, since we had extra time there, I still like doing the Roth IRA because it lets you choose the custodian. You get a lot of control and then, you know, as long, but if you're just trying to get the free money, start with the Roth 401k because you can do, you still get your employer match even with a Roth 401k.

• 54:31Speaker 04

  Love it. Brian will take that 30 seconds.

• 54:34Brian Preston?

  Financial order of operations is your friend.

• 54:35Speaker 04

  Last but not least, morning workouts or afternoon workouts?

• 54:40Brian Preston?

  Oh gosh, we're split.

• 54:41Speaker 03

  You go first.

• 54:42Brian Preston?

  I mean, I do an afternoon workout. Everybody who knows me is in the 315 with me. Beau gets up at like,

• 54:50Speaker 03

  I do early mornings.

• 54:51Brian Preston?

  Beau goes to bed at 6:00 PM at night.

• 54:54Speaker 03

  Because I'm in the messy middle, if I don't get it done early in the morning, it will not get done. And it's important to me, it matters, so I make time. So me and three other dudes, we wake up and we start going about 4:45.

• 55:05Brian Preston?

  What time do you wake up?

• 55:06Speaker 03

  I wake up at 4:13 and we're going at 4:45.

• 55:09Speaker 04

  4:13 specifically, I love it.

• 55:11Speaker 03

  You wanna know, because here's the thing, I wake up at 4:13, I'm a Hatch, we're not, are we sponsored by Hatch yet?

• 55:17Brian Preston?

  We should be.

• 55:18Speaker 03

  We should be. Hatch alarms, amazing. Well, actually, no, I'm not gonna tell you what alarm I love, I'll tell you in the future if we ever get a sponsorship.

• 55:25Speaker 04

  Oh, my goodness.

• 55:26Speaker 03

  But what's great is, wake up at 4:13, I immediately reach over, grab my phone, I snooze it till 4:22. 4:22, I get up, I go to the restroom, I brush my teeth, take my vitamins, go make my pre-workout, out the door at 4:33, ready to roll at 4:45.

• 55:38Speaker 04

  That was so intense.

• 55:39Speaker 03

  Every morning.

• 55:41Speaker 04

  Hatch, email me.

• 55:42Brian Preston?

  I need a nap from that.

• 55:42Speaker 03

  Right, every morning.

• 55:45Speaker 04

  Well, that was great. You know, I think you guys crushed it because I didn't hear tons of fodder.

• 55:51Brian Preston?

  I think 30 seconds was more appropriate because we actually felt the stress of the experience.

• 55:57Speaker 04

  Right, you actually had to follow through on being speedy.

• 55:59Brian Preston?

  By the way, my favorite car?

• 56:01Speaker 04

  Yeah, that's the one thing we did too.

• 56:02Brian Preston?

  I gotta say, my Tesla Model 3, because I just, y'all have no idea, you know, I've never driven cool cars my whole life. And then when I got there, because I was one of the early adopters of that Tesla Model 3, I can, I'll never forget, because like, there was a, they used to do a coffee and cars, like, up in this neck of the woods.

• 56:22Speaker 03

  You talking about in Cool Springs?

• 56:22Brian Preston?

  Yeah, in Cool Springs. And when I remember, my car came, I got it so much sooner than everybody else, all the head turning, I was like, this must be what it's like to drive a Ferrari.

• 56:30Speaker 03

  Yeah.

• 56:31Brian Preston?

  It's because I had so many people, and I couldn't go to a gas station without people coming up to me and talking. And that was also the reason I even bought some Tesla stock back in that phase, was that. So, that probably forever will be my favorite car, just because it was such a unique moment in time, that um... Everything just aligned perfectly with that car. It was a cool car.

• 56:52Speaker 03

  Well, and you love the Jeep too, but I think you did love the Model 3 a lot because when the Jeep had the same sort of experience, it was a big head turner too, but you loved the Tesla so much, the Model 3, because it was just so different than anything you've ever driven before.

• 57:04Brian Preston?

  It was different. And I thought it was so, I remember when I first got it, I was like, God, it stinks that this thing doesn't have auto headlight, you know, like high beam cut off because my wife's car at that time had that. And then it was like, three months later, they added that feature, you know, through an over the air update. And then I remember it didn't have the auto windshield wipers. They still struggle with that. If you want to, true Tesla struggles with the auto windshield wipers worse than the European companies. But um, they got, I love how these things get updated. And I thought that was a really novel, cool thing. But that was just, that moment in time was a pretty unique time for that Tesla Model 3. Love it. See, it's why I need more than 30 seconds.

• 57:38Speaker 04

  Yeah, that's okay.

• 57:39Speaker 03

  I don't feel like, I don't feel like there was any, were there any questions there that we need to extend, expand, expand upon? We hit the Roth IRA, Roth 401k. I think, even though it wasn't a ton of time, these levered things, people think it's going to be a magic bullet. It's not. And what you often find is you begin playing with that, or even like volatility investing, that got super popular a number of years ago, where people want to go buy the volatility indices.

• 58:04Brian Preston?

  The mix.

• 58:04Speaker 03

  Yeah. That stuff only works if you get lucky, right? Like it's not, those are not long-term investments. Those are, and I don't want to say gambling, because it's not exactly gambling, but man.

• 58:14Brian Preston?

  It's definitely more speculative.

• 58:15Speaker 03

  It's like a kissing cousin to gambling. And so I just don't think that's the way that you ought to be using your dollars to build wealth over the long term.

• 58:24Brian Preston?

  There was. Do you remember that crazy prospect I had?

• 58:27Speaker 03

  He put, you remember the numbers?

• 58:29Brian Preston?

  You remember the numbers. Give, I mean.

• 58:31Speaker 03

  In 2009, he bought a hundred, he put $250,000. He didn't know what he was doing, but he bought $250,000 in a, I think it was, it was a triple lever.

• 58:42Brian Preston?

  It was a triple lever.

• 58:43Speaker 03

  Triple levered ETF. And when he came to us, this is probably seven or eight, it had turned into $9 million. He had turned $250,000 into $9 million.

• 58:52Brian Preston?

  Because you know, look, and when you're a financial advisor, you have to worry about money laundering type stuff. So there's always, you know, people, because when I worked at another firm. That we had a prospect that just how they made their money seemed a little fishy. So you always have to be worried of somebody trying to clean money or do something. So you have to stand, stand on guard. So when he told me the story, I was like, you did what? And I was like, can you send me some statements? And he did.

• 59:17Speaker 03

  Sure enough, he did. He had the receipts.

• 59:19Brian Preston?

  And I couldn't, I was like, holy cow. So I mean, there are, there's always going to be some crazy story. But no, who's crazy enough that you do this in 2009? And then once you doubled or tripled your money, you don't get out.

• 59:31Speaker 03

  That's right.

• 59:31Brian Preston?

  It's, you're a wild man. If all of a sudden you're like, you know what? Let's ride this thing to $10 million. That, that's those, one of those oddball stories is still so unique.

• 59:40Speaker 03

  And those stories, those are the exceptions, not the rules. Far too many people say, oh, this person did it. You know, I'm like, there's, there's a ton of other things that have happened over the last 10 years. Oh, well, so and so made all this money doing this. Well, yeah, that, you can't go recreate that. You can't go back in time and do that thing again.

• 59:54Brian Preston?

  Well, I still, you know, I tell, I share the story that, um, because I'm about to see him. My, one of my high school buddies, um, going spring training with him next, this weekend, actually. But I remember three of us bought Apple stock in 2008, nine, when every crap was really going bad. We, and I remember looking at the balance sheet and the market cap on Apple was the same as just like what their assets were on their, of like, like their campus and those, like, what, didn't even include all the software and all this. So it was just the disconnection from value. So we bought like $5,000 each of Apple stock. I sold mine when it turned a 15 because I was like, hot dog, I tripled my money.

• 1:00:37Brian Preston?

  My buddy, I mean, it's, it's over, I mentioned it in, if you, you know, when I talk about crazy stories, I mentioned it in millionaire mission. It's worth over a half a million dollars now. He still owns it.

• 1:00:47Speaker 03

  It's wild.

• 1:00:48Brian Preston?

  There are crazy weird stories out there that happen for, for those wild people who, who don't take their profits.

• 1:00:55Speaker 03

  Exception is not the rule though.

• 1:00:58Speaker 04

  That's good stuff. Well, thank you so much for submitting all of your questions today, both long form and rapid fire alike. We'll be back here every Tuesday at 10 a.m. Central answering more of your questions and hopefully making it fun. We have fun. And in the meantime, you don't have to stop the chat. Just go to moneyguy.com/moneivers to join our Discord server where you can chat, ask personal finance questions, take part in our weekly surveys, and even celebrate milestones and maybe even see Brian and Bo make an appearance in there and answer some of your questions throughout the week.

• 1:01:27Brian Preston?

  Yeah, my goal is in the next day or two. I have to, today we have so many things we're recording. I don't know if it's gonna happen today, but I do plan on making some, some visits in there based upon all the feedback Bo's given me.

• 1:01:37Speaker 04

  You heard it here first. Go join the Moneyverse.

• 1:01:40Brian Preston?

  Guys, I'm your host, Brian, joined by Mr. Bo. It's good to be back in the saddle. We'll see you next week, same time, same bat place. Money Guy, out.

• 1:01:52Speaker 03

  The Money Guy Show is hosted by Brian Preston and Bo Hanson. Brian and Bo are partners with Abound Wealth Management. Abound Wealth Management is a registered investment advisory firm regulated by the Securities and Exchange Commission in accordance and compliance with the securities laws and regulations. Abound Wealth Management does not render or offer to render personalized investment or tax advice through The Money Guy Show. The information provided is for informational purposes only, may not be suitable for all investors, and does not constitute financial, tax, investment, or legal advice. All investments involve a degree of risk, including the risk of loss.

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