Ep. 1980: Don’t Crack the Nest Egg

SPEAKER_05 0:01

Same two guys, same money, same show, same boring answers as thirty years ago. Wall Street's got a shiny new thing to sell. We look at the fees and we laugh like hell. Making money makes sense. Making money makes sense. Own the whole market, keep the cost on the ground, and sit on your hands while the world spins around. That's talking real money.

SPEAKER_03 0:32

Okay, guess the genre on that one. I know you already know, but you at home, guess the genre. It's 1960s sitcom theme. Wow.

SPEAKER_04 0:42

That's and as one of the guys who was around for the 1960s and the sitcoms, yeah, that fits it perfectly.

SPEAKER_03 0:49

Well done.

401k Wins And Warnings

SPEAKER_03 0:50

Yeah. Yeah. I thought it was pretty impressive. Anyway, uh welcome to the show. This is the Talking Real Money Podcast with Don McDonald. That's me, Tom Cock, that guy over there. And uh we try to help guide you through the off-times confusing and confounding and frustrating and difficult to navigate world of saving money, investing money, spending money, just dealing with money. And one of the biggest topics of this program is the process of saving and investing for what should probably be most people's number one money goal, and that is retiring comfortably. So, you know, it's we we we suggest that you start early, that you invest as much as you can, that you build a portfolio that's properly diversified, and that you leave it the heck alone until you retire, Tom.

SPEAKER_04 1:49

Yeah, okay. So there's good news and bad news here. New uh numbers out from Fidelity, which I believe is the largest purveyor of 401k plans in the country. That's a reasonable claim. Yeah, they they manage most uh the a large amount. Obviously, Vanguard's got some. There's other companies, et cetera. But they just looked at the numbers uh in the second quarter and they say, Congratulations, America. You're saving, you're investing, and guess what? 401k balances hit a record high in uh the second quarter, according to Fidelity. Balances rose 13% over the last year. Doesn't that sound like kind of market-like returns?

SPEAKER_03 2:29

That sounds kind of like the market. I think it's about 13%, yeah.

SPEAKER_04 2:32

Uh to $155,000. By the way, they also point out that the average individual retirement account balance grew, gained 10%. Apparently, they're not investing as well or not saving as much, to $144,000. These are averages. And here's the really, I think actually pretty good news. They claim that the average savings rate, now they don't get into specifics what that means exactly, but the number, 14.5% of people's salaries are being saved. That sounds pretty high to me.

SPEAKER_03 3:03

Yeah. I th I've I've always heard the number save about 15%. So yeah, so but I don't know how much that is their money and how much is the company's money.

SPEAKER_04 3:11

Oh, yeah. So that's 14, but still, that's a really good number. Um, and in a year when the S P 500, a globally diversified portfolio, they're all up double digits this year uh as we prepare to head into the last quarter. So that's it's good to hear. And I I will say this for those of you who are gonna rush home and look at your 401k balance. And I don't look at mine I honestly honestly, probably twice a year. Because I've we've got to talk what I do too.

SPEAKER_03 3:42

I look about twice a year.

SPEAKER_04 3:43

Yeah, I put it in there and make sure everything's okay. Um you you this is your I'm gonna give you full credit for this because this was yours. If you get home and you look at the number, you're like, whoa, look at that. That's a lot of money. Now, automatically, I think you should subtract 20% from that for two reasons. Number one, when you take it out, taxes, it's gonna be but also, you know, markets have been pretty good the last what what did we say? This if this if the SP 500 holds where it is today at the end of the year, this will be the first time ever that it's gone up four straight years, double digit returns, ever. So markets have been pretty good. So you're dead of a bull market.

SPEAKER_03 4:22

It's I mean markets rise, markets fall.

SPEAKER_04 4:27

It sounds like one of I think there's a new song here.

SPEAKER_03 4:29

I think it's one of the songs on my on the new album from that great band, the financial physicist, that's burning up the charts on Apple Podcasts or Apple Music and Spotify.

SPEAKER_04 4:39

Are they big enough to play Lumen Field now, or are you gonna have to stick with Climate Pledge or whatever?

SPEAKER_03 4:45

I was thinking, I went, if if enough people listen, do I have to take it on tour?

SPEAKER_04 4:49

I think you're gonna be required.

SPEAKER_03 4:52

How do I take the financial physicist to stand up there and go, go?

SPEAKER_04 4:56

Get out of the way.

SPEAKER_03 4:57

Push a button. Oh, by the way, just so just so you know, uh Fidelity is by far the largest. They have 20, almost 26,000 different workplace plans covering 25 million people. Wow. Vanguard only has about five million participants.

SPEAKER_04 5:17

Yeah, Vanguard's never made it a priority. Fidelity has, I believe. That's true. So okay, so so you're all excited about your 150,000. I think, yeah, for those two factors. Number one, no matter what, when you take the money out, you're gonna have to pay tax on it if it's pre-taxed. Number two, uh, the fact is uh I think you should always hack that off because uh sometime along the way The market's gonna go down on you. It's gonna go down. It's gonna happen. So um so we should pat ourselves on the back, maybe slap Don on the back instead of the pat. But here's the bad news that

Emergency Funds Beat 401k Loans

SPEAKER_04 5:49

was this is a disturbing number and a disturbing trend because it's getting worse.

SPEAKER_03 5:53

And I read the number, I was disturbed, and then I was I totally get it because it's bad planning, really. It's it's a it's a what you're about to share is a symptom of bad planning. But go ahead, yeah.

SPEAKER_04 6:06

So it's it's 19 and a half percent of workers, I think we'd say 20, have an outstanding loan against their 401k. They've borrowed money, and so you know, you got to pay that back with interest to yourself. It's it's kind of a bizarre thing. Um, and this is not a good trend. It's gone up. This number has been increasing, and people are gonna say, well, because of inflation and because of, you know, unexpected expenses, all those things that come along. And you're right, Don. It uh it it is about planning, but uh this really is disturbing because this should be the last place you're looking for money because it sort of defeats the purpose if you're if you're taking money out of something, borrowing money against the thing that's gonna be taking care of you in the future.

SPEAKER_03 6:55

Yeah, I get it though. I totally get it. Life throws things at you along the way that you know I remember having to take money out of an IRA years ago. I had to do it. Um and so you know you get laid off from a job, you've got bills to pay. I I get having to do it. But this is why I say it's bad planning. Because not only should you put as as much money as you can afford to put into your retirement plan, but at the same time, you may need to put a little less into your retirement plan. And you should always have a reasonably well-funded emergency fund so that when an emergency happens, you don't have to tap your retirement fund.

SPEAKER_04 7:45

Yeah. So that is always first for me on the list when people start employment. They they've got to start there, put the money aside three to six months, you think? I mean, I don't know, it's different for each person.

SPEAKER_03 7:55

I I I really do I think it's it's how you've got to look at your, and that's where planning comes in. You've got to look at your situation. In your field, how easy has it been for similar people if you get laid off to find another job? Or how likely are you, based on your your history, your family history, to have some chronic illness that might lay you up for an extended period of time? Everything has to be personalized, particularly in this case, because you maybe three months for somebody who knows, you know, I've got a great gig, I can get a I'm in my job's in high demand, I can get another job very quickly, I'm very healthy. Three months. If you're you've got some chronic health issues, your job, your job may be in an industry where they're not overly hiring, there isn't high hiring, you may be looking at a year. You're you you have to build that emergency fund based on what you think your worst case emergencies might be.

SPEAKER_04 8:52

Yeah, and right now, I mean, the numbers show that unemployment is actually low. But when I talk to young people here in our office, they're like, we're glad to have a job. It's hard to find a job right now. And this is uh, you may know Seattle's very tech-based. Been a lot of weird currents going on with the tech thing, right? With AI, et cetera. Microsoft's laid off people, Amazon's laid off people, Meta left. They had a whole block that they were renting, they're gone now. So it's been

Rebalancing And Roth Choices

SPEAKER_04 9:18

a hard time. Uh, and back to the 401k just for a moment, if you have the high balance, which is which is great. I'm uh again, we're we're fantastic you're saving, fantastic you're building with the markets. The only thing I think to pay attention to, two things. Number one, don't get too excited, because I think people tend to have a tendency to go, oh, look at me, I'm rich. Um, number two is if you're not using a target date fund, and it's like six or seven out of ten dollars are now in target date funds, you don't have to do anything then. They're doing it all for you. But if you're not, if you built a portfolio with five or six funds, some of those will be out of sync. So you're gonna need to rebalance, you're gonna need to sell some of the things that have gone up faster than the others and put it in the ones that haven't. That's a very important thing to do. I do run into a lot of people that sometimes set up their 401k correctly and then forget. Uh, and by the way, the things that's done the best over the last year have been small, small value, and emerging markets are way up. So if you're in those areas of attention.

SPEAKER_03 10:15

A year or two ago, no one wanted to put their money, which makes which is part of the problem. One of the things that makes this rebalancing process so difficult for individual investors is the fact that we try to outthink the market.

SPEAKER_04 10:29

Yeah.

SPEAKER_03 10:30

And uh well, you know, the US are doing well, and I don't see any change coming in that until the change comes and you didn't see it coming and it happened and you missed it. That's the problem.

SPEAKER_04 10:40

Yeah, don't try to be practical.

SPEAKER_03 10:43

You either have to go with something that rebalances automatically, or you have to rebalance. You just have to make it disciplined. You can't you can't think about it. Stop thinking. We have big brains. We I it's like we feel like we're not using them. Use them for something else. Don't overthink this stuff.

SPEAKER_04 11:04

NFL Fantasy League, something like that. Really important stuff. Um, and back to back to those, just one other thing I forgot to mention that I meant to earlier. When you're looking at all this, again, consider how much pre-tax and how much post-tax. Now, Don and I are both required to put somebody in Roth now because uh the government changed the rules for the beginning of the year. So we have to set aside. I I wouldn't be, I'd be saving everything pre-tax because my tax rate, I think.

SPEAKER_03 11:31

You're in a higher bracket now than you're likely to be later.

SPEAKER_04 11:34

Easy, no-brainer. But I think if you're a young person, crank up that Roth if you can, and certainly uh it the very least balance between pre-tax and post-tax Roth because you're gonna want to have different buckets to pull on when you do retire. So congratulations. Yeah.

SPEAKER_03 11:52

Yeah, I was gonna say, all that said, well done, all of you who are doing these 401ks in a big way.

Ask Us Anything

SPEAKER_03 11:59

Uh it the younger you start, the better off you'll be. And uh that that is just a financial fact. It's not a theory, it's a fact. Another fact is the fact that you can ask us questions really, really easily. All you need do is go to our little website, talkin'real money.com, which has been simplified and reducified and made easier fied for you to find what you want to find on the site. It's anyway, it's easy to work with. Go there, hit the button that says ask a question, type up your question. That'll let Tom print it up and it'll make him happy. And then he will take that printed question and hold it right there like he's doing. He's doing a great job. Feels so good in my hands. I love it. Yeah. And then he he uses his eyes and his big brain to read the question and answer it.

SPEAKER_04 12:53

I don't know about big brain. Ah, from Belchertown, Massachusetts.

SPEAKER_03 13:00

Massachusetts?

SPEAKER_04 13:02

That's what it says. M A, right? Isn't that the same?

SPEAKER_03 13:04

Oh, I thought you said P A. Okay. Earlier.

SPEAKER_04 13:06

Belchertown, Massachusetts.

Long Bonds Aren't Cash

SPEAKER_03 13:08

Yeah, it's over a gas seam.

SPEAKER_04 13:10

Yeah, okay. I was wondering. I was waiting, waiting for you. There. Uh Robert writes Um, given my heightened interest in expanding my cash allocation, I have to explain what that means.

SPEAKER_03 13:23

But I'm contemplating emergency money.

SPEAKER_04 13:26

Yeah, okay. I'm contemplating purchasing the TLT Exchange Traded Fund, which comp uh comprises 20-year or longer treasury bonds. What do you think about the current bond market valuations and my idea? Should you be going long on U.S. treasuries?

SPEAKER_03 13:42

Hold on. I I gotta I gotta come back to what he said originally. Wait, he's given my large cash position.

SPEAKER_04 13:50

Yeah, that's not cash, by the way.

SPEAKER_03 13:52

Okay, cash, cash is something that doesn't fluctuate in value at all. That's cash.

SPEAKER_04 14:00

That would be like the money market.

SPEAKER_03 14:02

Right, or a high yield savings account. Yeah, exactly. Or even maybe a a short-term CD. Doesn't fluctuate in value if you don't try to sell it. Wait, TLT 20 year plus. Yeah. TL Okay, wait. What does a 30% decline in a single year? What kind of a fund does that sound like to you? What does that sound like? Doesn't that sound like a stock fund?

SPEAKER_04 14:27

Yeah, because that sound a little like a stock fund?

SPEAKER_03 14:29

And that's what happened in 2022, right? 2022 TLT, the fund you're now craving, lost 31% of its value. It was down almost a third in one year. That's a stock market-like decline. That means you put a million dollars in cash in there and you only have six hundred and ninety thousand.

SPEAKER_04 14:55

Yeah.

SPEAKER_03 14:55

That's not cash-like. Like being scared that's the same.

SPEAKER_04 15:00

And you ask about a current take on the bond market. Current take on the bond market's the same as in the past bond market. Uh you know, I don't want my securities long and I don't want to take a lot of risk with them. US, good, because uh they're getting always paid back. Get longer than about eight, nine years, bad. Here's what's going on.

SPEAKER_03 15:18

Folks are looking at long-term bonds yielding about five now.

SPEAKER_04 15:22

Yep.

SPEAKER_03 15:22

And they're thinking, I want to in on that.

SPEAKER_04 15:24

Bing, bing, bing, bing, bing, bing, give me that one. Yeah.

SPEAKER_03 15:28

If rates rise to six, those fives are gonna look terrible. And guess what that means? Yeah. This is really a bad idea. I mean they don't get a lot worse for cash positions. They really don't. This is a terrible, terrible idea. No.

SPEAKER_04 15:44

If you were looking for your bond allocation, which would be different than cat. No, that's what I'm saying. If you're looking for your bond, we would still recommend an aggregate bond type of fund if you wanted to be more conservative. You could just own U.S. short and intermediate term U.S. treasuries. So, but our overall take on the bond market, which I'm feeling a little bit here, has not changed for 30 plus years.

SPEAKER_03 16:08

I mean, really, I I look at this fund and I see that it has stock market-like volatility. It returned a positive 14% in 2019, rates were falling. Yep. It returned a positive 18% in 2020, rates were falling. It then lost almost 5% in 2021, rates started rising. Then rates rose quite a bit in 2022, it lost 31%. Then in 2023, well, rates went back down a little bit, so it returned 3%, less than its coupon yield, though, which means it wasn't performing well.

SPEAKER_02 16:45

That's right.

SPEAKER_03 16:47

And in 2024, it lost eight percent. I mean This is stock market like returns and losses.

SPEAKER_04 16:55

All over the place and no, not a fund we'd recommend.

Country Tunes And Whalers

SPEAKER_04 16:59

Uh from Parker, Colorado, Dave. You know Parker?

SPEAKER_03 17:04

Yeah, Parker is southeast of Denver.

SPEAKER_04 17:06

Okay. We count on you for your Colorado geography.

SPEAKER_03 17:09

I do have Colorado geography known.

SPEAKER_04 17:11

And among other things. Rocky Mountain high. No, sorry. Uh Don and Tom, thank you for the podcast. Love the jingles. That's why I was singing there. You haven't done a John Denver-esque jingle yet.

SPEAKER_03 17:22

No, but I've done I've got a cowboy one in the can. That's classic cowboy. I love that. I think you should type in John Denver. What? It's sort of singer-songwriter, but with a country, with a country twang to it a little.

SPEAKER_04 17:36

Yeah, I don't know. Folk? I don't know, yeah.

SPEAKER_03 17:38

No, but it's got a little countryish to it.

SPEAKER_04 17:41

Now I'm gonna wait for that one. I hope that's gonna be when I get on the road. You could ask AI. It'll know. Uh country and whalers. Country and whalers, he says, are his favorites.

SPEAKER_03 17:55

Country and whalers. Well, I've got wait, hold on. Let me look at the let me look at the You've got whaling music. I'm looking. I'm looking. Hold on. Wait.

SPEAKER_04 18:03

I don't think we've got to be.

SPEAKER_03 18:04

You've got the cowboy. Yeah. I've got Cajun, which is close. The Cajun's really good.

SPEAKER_04 18:11

Um heat there on the chicken.

SPEAKER_03 18:14

Yeah. I need to do a good country. I need to do a good country. I am I am short a good country. I was actually thinking the other day of sort of a Patsy Klein-ish thing.

SPEAKER_04 18:24

Oh, now you got me. I'm going walking. Uh whalers, though, you can't hunt whales, and I don't think you can sing with them because they sing.

SPEAKER_03 18:32

I do have wait. I do oh, speaking of whaling, I have this one.

SPEAKER_02 18:39

People play boys be away. One almighty stuff was to keep me afloat, but it's like in the swells of the bed. Talking real money, it's saving the day. We're talking real money today. You remember that? That was one of the big hits.

SPEAKER_03 19:11

That was one of the whalers. Well, you said whalers. Okay. Isn't that what he was talking about? He wasn't talking about those kind of whalers.

SPEAKER_04 19:18

I don't know. I don't know what to do.

SPEAKER_03 19:19

I think he's

Social Security Timing Questions

SPEAKER_03 19:20

probably talking about the question of here. You know, with Bob Marley.

SPEAKER_04 19:24

Dave, thank you for your question. He says, I'm still working 65, not taking Social Security. Yay, Dave. Trying to plan when I quit my job and take Social Security in the future. Welcome to the club. Upon review of my Social Security statement, it does not reflect an 8% increase for each year I wait after full retirement age. From 67 to 68, the increase, he says, is 1.7%. From 68 to 69, the increase shows 8.2. And from 69 to 70, the increase is showing 13.8. I've worked continuously since I was 20 with small and steady pay increases. How do I know if my statement's correct? It doesn't seem to be, it doesn't seem like working from 67 to 68 pays off for me with Social Security. Everything I read says the increase should be 8% a year after age 67. Thank you for your help, Dave.

SPEAKER_03 20:13

I'd have to I'd have to see to understand. I went and checked mine. I'm sorry.

SPEAKER_04 20:17

I just checked mine because as you know, I have not yet filed. And uh mine is going up 8% a year every year after full retirement age.

SPEAKER_03 20:25

Well, I went and looked at the schedule, and and you know, if you were born in 1960 or later, your full retirement age is 67. That's right. If at 67, this according to Social Security, your benefit is $2,000 a month, delaying 12 months to 68% takes that to $2,160 a month.

SPEAKER_04 20:46

Yeah, I even did the number, I even did the math to make sure it added. That's exactly 8%. I know. Which by the way, that does not include the inflation you're going to get the you're going to get as well. But yeah. I don't know, Dave. We'd have to see it. Uh you'd have to send it to us and have us look at it because that's very odd.

SPEAKER_03 21:03

Everywhere I look, I don't see that kind of number. So I don't truly do not understand. Don't know.

SPEAKER_04 21:11

It but back to your question. Um, it sounds to me like you can kind of take it anytime after. I I'd if you're willing to go to 67, I'd wait till 67. Because it that's still a lot of money to leave on the table between ages 65 and 67. But if you're not, if you have the money and you can take it from somewhere else in your portfolio, you could do that instead of claiming social security, you can still retire. You just pull it from you know an IRA or a brokerage kind of account. You could do something like that.

SPEAKER_03 21:40

And not only is there a benefit to you, but if your spouse is the same age or younger than you and you're a man, um the likelihood is you're gonna be dead before she is. Yeah, that goes without saying so. She'll get that higher benefit if she earned less than you.

SPEAKER_04 21:56

So my wife was just telling me how much she's counting on. That.

SPEAKER_03 22:00

So well, she pretty much figured that out years ago, I think. I think she was doing the math at a very young age.

SPEAKER_04 22:07

Wait a minute. Look at him. He can he can't look for 20 years.

SPEAKER_03 22:11

That's done. I can take him out.

SPEAKER_04 22:13

Big lake, deep enough? Yeah, got it. So uh Dave, thanks for the question. But I it send us the send us the stuff. I'll be glad to look at it. Yeah, I'd like to see it.

SPEAKER_03 22:22

Um and keep sending us your questions at talkingrealmoney.com. You just use the ask a question form or you speak them using the microphone button in the corner. And those go on the Friday QA podcast.

Robinhood's Betting Problem

SPEAKER_03 22:34

Um but we cannot let this episode end.

SPEAKER_04 22:37

Yes, it needs without me.

SPEAKER_03 22:39

I haven't enraged Tom in a reasonable period of time. I I just I it's hard to go a couple of weeks without getting him all fired up. It just doesn't sound good, yeah. Did you read the headline uh in a recent Wall Street Journal article, I think it was last week? Your favorite company, Tom, Robin Hood. No. Has decided there they've cut a deal with with crypto.com.

SPEAKER_04 23:05

Oh, of course they have.

SPEAKER_03 23:07

To add uh new prediction markets, and these prediction markets are so simple. Will will X go up or down? Yes or no. They're called yes or no contracts. Keep it simple. Either do you pick the the right side of the deal, you make money, you pick the wrong side, you lose money. What does that sound a little bit like?

SPEAKER_04 23:27

Does that sound like a gambling? Like zero sum gain, you know, like you somebody wins, somebody loses. To me, it sounds exactly like gambling.

SPEAKER_03 23:34

Oh.

SPEAKER_04 23:35

Um so they actually they're in business now with crypto.com?

SPEAKER_03 23:39

Yeah. Yeah. And they, in fact, they even invest, they even bought a stake in crypto.com. Not only do they cut the agreement, but now they own a piece of the company.

SPEAKER_04 23:48

So they're getting bigger into the prediction markets, which have been one of the course hottest areas for traders of late, if you want to call them that.

SPEAKER_03 23:56

Which has hurt, by the way, which has hurt all of you poor crypto bros out there, because now everybody's excited about prediction markets and less so about cryptocurrency. Oh, yeah.

SPEAKER_04 24:06

Because this is way better than yeah, Bitcoin. Sure. Yeah. Yeah. Uh and good news, I mean, I guess they probably did this just in time for the football season and then the midterm elections, right? Because you get there's a lot of betting to be done there on yeah, and here's the thing, they're covering all their bases.

SPEAKER_03 24:21

They they also partnered last year with Calci, so they have other prediction markets and yes no bets and all this stuff. And uh yeah, it was funny. I was looking in the Wall Street Journal last week, football season's here now, and uh there were there was there were bets on polymarket, I think it was, on which team was going to win the Super Bowl. And uh among the Denver was in the top three. Wow.

SPEAKER_04 24:51

Not the Raiders, Tom, I'm sorry. I'm I'm not surprised to hear that. I'm assuming it was the Rams, the Broncos, and the I don't think they were in the top three. Yeah, they were.

SPEAKER_03 25:02

They were it was Rams, Rams, Seahawks, Broncos, and Patriots were like vying for the top positions.

SPEAKER_04 25:10

But honestly, Robin Hood, you know, uh you wonder why I pick on you? Come on. Really? You're gonna be you're gonna call yourself an investing custodian, and then you're gonna go bigger on yes or no bets? Give me a break.

SPEAKER_03 25:25

This is uh perfectly legal and absolutely immoral gambling and it doesn't even resemble investing.

SPEAKER_04 25:38

No. And yet it will be compared to that. And and it will be on a website that you know calls themselves, you know, there for investors. That's why I don't like you.

SPEAKER_03 25:49

Yeah, I mean, and just it's so simple. A yes or no market is yes, I think it, whatever it is, will happen. No, I think it will not happen. And get this you can these yes or no bets cost somewhere between one cent and ninety-nine cents, and they pay a dollar. So it's based on the odds. Yeah, of course. Based on the odds. Oh, wait, that sounds like gambling. And uh and a and an if you get it wrong, you lose your entire bet. The one cent to the but not a penny more. But not a penny more. And by the way, these are the the Commodities Futures Trading Commission considers these to be regulated derivatives. Yeah. The CFTC is maybe the most worthless regulator ever invented. They don't care. Do whatever you want. We're the CFTC.

SPEAKER_04 26:51

I hope to see all this on Instagram soon, but I doubt it.

SPEAKER_03 26:55

So well, here's what's gonna happen. This will work right up until something new comes along that attracts the attention of the the uh the memish, not squeamish, but memeish members of our society. So there you are. If you uh if you want a little help with your gambling habit, don't call us. Uh don't go to talkingrealmoney.com and meet with an advisor because we don't help those kind of problems. There's some sort of gambling hotline. I think it's oh wait a minute.

SPEAKER_04 27:22

What is what is Oh, I'm sure Robinhood has it right there on the home page, right?

SPEAKER_03 27:28

I need the gambling hotline number so we can give it to all of you. Yeah, please do. Uh hold on, I'm trying to find it.

SPEAKER_04 27:34

The uh if you're doing any of the things we just mentioned, you should call them. Yeah. Yes.

SPEAKER_03 27:39

Uh let's see. It is uh 1-800. Oh, wait, no, it's so easy. Oh. If gambling has you in immediate danger, and you're thinking of harming yourself, doll nine eighty eight, or otherwise, if it's not a not an emergency, one-eight hundred my reset. 1-800 My Reset.

SPEAKER_04 27:59

Why is that ever appropriately named? Yeah, okay. Yikes. Thanks, Robinhood. You're a big help.

SPEAKER_03 28:05

So you're doing good for everybody who works at Robinhood.

SPEAKER_04 28:10

Congratulations, everyone who's a shareholder. Yeah, sure.

SPEAKER_03 28:13

Thank you all for being a part of our program. We really truly appreciate you. Uh, if you do want to meet with one of our advisors for free for nothing with no obligation and no high pressure sales, just go to talkingrealmoney.com. Don't call Tom, just go to talkingrealmoney.com, click meet an advisor, and then write his name in there somewhere.

unknown 28:28

Yeah.

SPEAKER_03 28:29

Happy to do it. He's happy to do it. He loves it. Otherwise, just ask us your questions on the ask a question form or speak them with the microphone in the corner and keep joining us. Keep joining us, Annunciate Don, every day as we are talking real money.

SPEAKER_01 28:47

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SPEAKER_00 29:01

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SPEAKER_01 29:10

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SPEAKER_00 29:43

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SPEAKER_01 29:48

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