Speaker 1: It is time for Joel large guard. And by the way, Joel,
Speaker 1: do you really believe that I'm as much of an
Speaker 1: ass as I? Never mind anyone I know? All right?
Speaker 1: How to money? Yes, Sunday's let me tell you. People
Speaker 1: that really know me, Joel, people that really know me
Speaker 1: also think I'm an ass twelve to two o'clock every
Speaker 1: Sunday right here on KFI. All right, Joel, an article
Speaker 1: just came out that I read this morning about money arguments.
Speaker 1: How often couples argue a year over money, And let's
Speaker 1: talk about that. Who and what kind of arguments?
Speaker 2: Let's go for it, all right, Yeah, let's do it,
Speaker 2: especially since tomorrow it's the day of love. Right, let's
Speaker 2: talk about the opposite of love, which is yelling at
Speaker 2: your spouse or your significant other. And yeah, there's this
Speaker 2: new survey and it finds that most couples are huge
Speaker 2: segment of couples are uncomfortable talking about money in their
Speaker 2: relationship at all. It's say, hey, let's talk about everything
Speaker 2: else except for money. It's just still a taboo topic
Speaker 2: for a lot of couples. And then on top of that,
Speaker 2: couples on average fight about money fifty eight times a year,
Speaker 2: which means more than once a week, which is just
Speaker 2: a lot to fight about money. And so I get
Speaker 2: it too, Like I grew up in a family where
Speaker 2: there were money arguments, and my whole goal in life
Speaker 2: has been, like, hey, I want to not fight about
Speaker 2: money with my spouse. It doesn't mean that it never happens,
Speaker 2: but fifty eight times a year sounds steep. And I
Speaker 2: just think most people feel still so uncomfortable about how
Speaker 2: to handle money, and then they don't know how to
Speaker 2: talk about mistakes that they've made or that their spouse
Speaker 2: is made without kind of things getting heated. And I
Speaker 2: don't know that worries me because we have to be
Speaker 2: able to talk about money without like ratcheting up the
Speaker 2: situation and turning it to deficon five.
Speaker 1: Okay, well, typically, what are the arguments spending too much money,
Speaker 1: buying things that not necessary? What is a it is
Speaker 1: there a hierarchy at all? For sure?
Speaker 2: I think definitely spending is one of those things where
Speaker 2: you're not communicating specifically about what's being spent and there's
Speaker 2: not enough left at the end of the day. It's
Speaker 2: a disagreement about how you're spending money. That is, that's
Speaker 2: one of those things. Often there's you know, there have
Speaker 2: been other studies in the past that talk about money
Speaker 2: and fidelity, and so a spouse maybe hiding an account
Speaker 2: from from the other partner, and that when that comes
Speaker 2: to light, that creates significant money arguments and a lack
Speaker 2: of trust, which makes sense. And so when you look
Speaker 2: at the studies too, couples who combine their finances tend
Speaker 2: to have more success with how they communicate about money
Speaker 2: and then how happy there they are, Like their self
Speaker 2: reported levels of happiness are more are higher because they're
Speaker 2: typically more on the same page. And there is something
Speaker 2: about just putting everything together. And it doesn't mean that
Speaker 2: you have to have your spouse sign off on every
Speaker 2: purchase you make, but just it creates that transparency level
Speaker 2: I think in relationship. So I think that's something that
Speaker 2: the people should think about more. I get why more
Speaker 2: couples are not combining finances, especially as they get together
Speaker 2: later in their lives, as people get married later and hey,
Speaker 2: I already bought a house, I've already saved the investor
Speaker 2: for I retirement, and I've already made all this progress
Speaker 2: and now we're getting married at thirty six, and so yeah,
Speaker 2: I kind of want to keep my stuff separate. But
Speaker 2: the truth is, if you want your marriage to function
Speaker 2: and to be healthier, the more you combine your finance
Speaker 2: is the better you can still have. I think those
Speaker 2: separate accounts for spending, but I like the idea of
Speaker 2: the bulk of the funds being combined together for those
Speaker 2: bills that you guys are going to have together as
Speaker 2: a couple.
Speaker 1: All right, let's go right into five twenty nine savings plans,
Speaker 1: which a lot of parents start for their kids for
Speaker 1: at college fund, which I did the day my kids
Speaker 1: were born. Put money in, and now we have a
Speaker 1: pretty healthy amount of money for a four year college.
Speaker 1: Both of my kids, at best will graduate junior college,
Speaker 1: where it costs ten dollars a unit. So I have
Speaker 1: more money in there than I know what to do with,
Speaker 1: except it's a ten percent penalty on top of on
Speaker 1: top of my interests or on top of ordinary income.
Speaker 1: So I'm going to keep it for my great grandchildren
Speaker 1: personal seed.
Speaker 2: Now, that's smart, that's part of there. You believe in
Speaker 2: five nine planet offers, Yeah, you can go to grandkids,
Speaker 2: that's right.
Speaker 1: So my kids are twenty nine, they're not gonna have
Speaker 1: kids for a while. So let's say they have kids
Speaker 1: at thirty three, thirty four, which makes a lot of sense.
Speaker 1: And then so I got another three or four years
Speaker 1: plus eighteen years when their kids are born, So we're
Speaker 1: looking at twenty two years of growth. So it's gonna
Speaker 1: be worth just a ton of money, except that tuition
Speaker 1: will be more than a ton of money. So let
Speaker 1: me go into the five twenty nine plan. There's a
Speaker 1: there's a world to this, and that is parents. More
Speaker 1: parents are investing into their five twenty nine with bitcoin.
Speaker 1: I mean, do we really want it to be that
Speaker 1: vaultly might as well take the money and go to
Speaker 1: Las Vegas the five twenty nine plan and put it
Speaker 1: on a roulette wheel. You don't know.
Speaker 2: Yeah. So interestingly enough, this was there was an article
Speaker 2: in Bloomberg kind of talking about this bill, and it's
Speaker 2: these parents are actually instead of five twenty nine plans,
Speaker 2: they're putting money into bitcoin, and they're saying, ah, I'm
Speaker 2: not going to go through the traditional route that's going
Speaker 2: to offer me tax savings. Instead, I'm just going to
Speaker 2: buy more bitcoin and hope that that goes up at
Speaker 2: a faster, faster clip. Instead of traditional investments, and so
Speaker 2: they're basically like given the heisman to a traditional plan
Speaker 2: that has worked out well for so many parents, and
Speaker 2: I like the five to twenty nine plan. I typically
Speaker 2: caution parents like, hey, make sure you're saving well for
Speaker 2: your own future before you jump into investing and saving
Speaker 2: for your kids college, because hey, the retirement, the sum
Speaker 2: of money you need for that as much bigger, and
Speaker 2: there are no scholarships available for that. But investing in
Speaker 2: bitcoin for your kids for your kids future, I think
Speaker 2: makes very little sense. I think the basics, getting the
Speaker 2: basics right, using the five twenty nine plan the way
Speaker 2: it was intended, especially given the greater levels of flexibility
Speaker 2: that a five to twenty nine plan offers these days,
Speaker 2: I think that's a much better route than going all
Speaker 2: in on bitcoin.
Speaker 1: Yeah yeah, now I misunderstood. I thought they were putting
Speaker 1: their five twenty nine money into bitcoin, which I'm assuming
Speaker 1: can be done because you can pretty well, you can
Speaker 1: can pretty well.
Speaker 2: Invest, you can look at a risk of all the
Speaker 2: investment options that your five to twenty nine offers. So
Speaker 2: if you go into you can actually go to the
Speaker 2: Scholarshire five to twenty nine Planned website, or you could
Speaker 2: look on a website like saving for College dot com,
Speaker 2: and they list out all of the investment options and
Speaker 2: the expenses of those options, and there isn't actually while
Speaker 2: inside of like let's say your four O one K
Speaker 2: or your IRA or your taxable brokerage account, you can
Speaker 2: invest in a bitcoin ETF. Those are not actually available
Speaker 2: from most of these five twenty nine plan unhit, I
Speaker 2: haven't seen one that's offering yet. So you would think that, oh,
Speaker 2: maybe that's readily okayble now, but not inside of five
Speaker 2: point nine plans.
Speaker 1: Yeah, you would, and you would think that it's and
Speaker 1: you think it's only a question of time before it
Speaker 1: does become available because even though the uh people companies,
Speaker 1: the service organizations that are accepting bitcoin or is not
Speaker 1: growing as quickly as anticipator or as bitcoin wanted, it's
Speaker 1: still growing real quickly. And that is the five twenty
Speaker 1: nine savings plan. This is where I'm going to pat
Speaker 1: myself on the back and thump my chest. Investing in
Speaker 1: a five twenty nine plan early early early days is
Speaker 1: uh well, let me put it this way. My five
Speaker 1: twenty nine plan was fully I think it was basically
Speaker 1: done when the kids were eighteen. Now we are ten
Speaker 1: years later because I started so early, and it's like
Speaker 1: anything else, it's all compound at the end. So a
Speaker 1: little bit, a little bit, a little bit, a little bit,
Speaker 1: and you're home free, and your kids get a college education,
Speaker 1: and you're not screwing yourself either. You're not putting away
Speaker 1: a ton of money or mortgaging your house.
Speaker 2: The other reason to start early space are now five
Speaker 2: twenty nine plan, even if you're talking about like not
Speaker 2: big bucks, but just putting a little bit of money
Speaker 2: in to get a clock rolling. And that's because of
Speaker 2: the new rules about five twenty nine to roth rollovers,
Speaker 2: because you can't move money from a five to twenty
Speaker 2: nine plan into a roth IRA unless it's existed for
Speaker 2: at least fifteen years. And that's just existed, so there's
Speaker 2: something even if you drop fifty bucks in there and
Speaker 2: you don't put money again in again for years. That's
Speaker 2: the one exception to my rule about saving for your
Speaker 2: own retirement first. If you're like, listen, I know I'm
Speaker 2: going to put more in at some point, but getting
Speaker 2: that fifteen year clock going, which would mean starting off
Speaker 2: that five twenty nine plan when your kid's super young,
Speaker 2: that I think is is something that people should take notice.
Speaker 1: Of, all right, Joel, thanks much. Sunday twelve to two
Speaker 1: here on ki social address at how to money Joel,
Speaker 1: And that's on X. Don't you use the word Twitter?
Speaker 1: Do you still use the word X?
Speaker 2: I just don't use it at all.
Speaker 1: I guess did he just leave? Oh good? Why does
Speaker 1: it say on X? I have no idea. Okay, we're done, Joel,
Speaker 1: Thank you.
Speaker 2: Thanks Bill,