When Always Be Buying Goes WRONG!
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Always be buying. Is there too much for good thing?

Brand, I am so excited to talk about this because I love when our financial mutants take an idea that we share with them and they grab onto and they love on IT and they make IT their own. But sometimes, just like with most things, perhaps there can be too much of a good thing. And right now, one of the questions that we're going to answer is going to deal with that.

This question came in from earl, the squirrel school. That said, i'm obsessed with checking my account daily, and I have major formal, if I don't check them daily, is there a downside? The dollar cost averaging on a daily basis instead of on a less frequent basis, can that? B but as someone who dollar cost averages many, many times to, uh himself, what say you to the answer? What say you to this question?

I feel a little responsibility here. But but year every day is one eras that every day. And he says he gets a little sad if he doesn't check his account.

Major formal was the exact language that early squirl east.

Okay, I look at all man being self reflective. And given the experience, shares in the fact that I ve told you guys that I was doing monthly purchases and at some point that that warped itself to I was buying twice a month and like a twice amount was good, you know, would be really fun if I did this every week. So I do have monthly, I mean, weekly purchases in my investment, in my aftertaste in investment account.

okay. And of course four one cargoes in every month, some of the other accounts they get grouped and fund IT only once because you can profit sharing routh conversions. Those things are one off. Um but I think about at all, I I don't know that i've ever hurting by said they want .

to everyday .

daily so and i'll give some stats because I will pride, love this. And he's obviously taken this thing from from here and he's take and launched and out of space with taking a jump ing a mall. If you look at the markets since nineteen thirty seven, if you're going on a daily basis, markets are up fifty three percent .

of the time on a day by day about it's some days.

Great if you do IT monthly, which is what the majority of I think people do when we're talking about dollar cost averaging, it's sixty two point nine percent, the time is up. okay. And then if you do this quarterly because some people get you know bonuses and other things that come through quarters at up sixty nine percent of the time, if you're only funding stuff once a year because it's the one off type of things, you know like I suck mama, if you do him back to rough conversion, other things like that, it's up seventy seven percent of the time. But this is losing the question for the forest of all those stats is because what I worry about with all the squirl is that from a behavioral standpoint, the hyper focus on the daily ups and downs is probably doing more emotional damage and actually hurting the actual completion of his financial goals over the long term. Then even giving all all those stats that I just share.

Yeah the question that I would have for all as if you're doing this is the juice really worth to squeeze? Does IT are you actually getting a bit a efa from doing this is no different um if you try to watch grass grow or you try to watch paint dry, it's really, really difficult to see that happening.

But if you're someone who doesn't check your accounts daily and maybe you only look at among a month in basis or you look at a quarter later, I think what's great is if you really only look at your total account baLance once a year when you do your ano, that worst statement, you will be amazed at the ground you are able to able to cover throughout the course of a year. But if you're tracking and watching everyday, I agree, brand, I think that you'd likely an emotional reach that on good days, you're up and on downtown, you're down. And if we know that the market on a day by day basis is only about fifty three percent of the time, that means half the time you're happy and half the time you're sad. When in reality, if you look at IT less frequently and you see the accounts moving, you're gonna be amazed, ed, that men every time, look at my count I looked at at six months ago and man tire now or look at a year, go now, the higher I think that you're gonna have a lot higher likelihood of staying the course and sticking with IT. If you approach.

here's the key. Take away. Everything we're trying to share with you is how can we take the emotion out of the transaction? Because most people are horrible at controlling their emotions.

The whole fear, greed, battle is constantly going, always be buying. The whole superpower of this is that IT makes the good habit of building wealthy as easy as possible. Then IT makes the bad habit of overspending and waiting until you're investing oil.

What's left over. You're actually getting ahead of that by paying yourself first. That's why I love always be buying.

But if you're doing this in a detrimental way, where are you're doing? IT on a daily basis is giving you emotional stress in a lot of ways. You are using A, B, B, all wrong. And I would ask you to revisit that is what this is really nice to to be working on is making an automatic for the people and giving you that inevitable walk towards wealth.

Love a Megan is today a tumbler that SHE saying, no, no, it's not well, ys or the squirl. If you would like your cozy tumbler, you can write winner W I N and E R. It's the only time i'm gonna spell IT at money guy that comes. We would love to get .

that out to you, by the way. I think the chaos is because we're missing member today. I look over at the chair, even thought about poor and some of my water out on the curve because I mean, I think half the reason because of weird you introducing the question .

like that really know .

didn't turn the lights on just because he wasn't over there were all trying to say the power but IT feels IT feels kind of dim and dark over there and .

it's they cut over to her camera and but we .

we're thinking about you. I think a lot of you guys, when we do these live streams and that we're filled with people, we got people over here. We ve got people over here, but we actually all have a good time with each other.

So IT IT is one of things. When we lose one of the keoghs out for a while, A A glorious thing go in the family is a good thing, but we have no announcements on that yet. Um SHE is working this morning, but he is hanging in out of the family but we we miss rabi sorry .

if you watching. Hey, we miss h you here you have another question. Let's go.

This question is from devil devo said, hey, money. I thoughts on gambling on stocks. I give myself a hundred hours a paycheck. Gamble on individual stocks for fine.

I mean, my forties with two hundred k invest that to allocate over a thousand dollars a month in two target date ones. So this would sounds like devo say, hey, i'm doing what the money guys tell me. I'm saving consistently.

I'm at the point in my career for savings journey where i'm using target retirement index bones. So it's kind of set IT and forget IT where I can choose, okay, when do I think i'm going to retire and need this money and how much can I save? And that's all i've got to think about.

I'm doing that part. That part choose off is IT OK. If one hundred dollars every paycheck, and I don't have you paid by weekly, if you paid monthly or maybe weekly, is IT OK. If I take that money and I gamble divos words on stocks, I going to tell you, Brown, when I read this question, I don't have a problem. That is, to me, it's no different than if devo said, hey, can I spend a hundred dollars per paycheck to go golf, to go to the movies, to go pursue any other hobby that I might have? IT just happens that IT sounds, I do hobby, is trying to guess .

which stocks are gonna ite, if I wrote down three quick things, I wrote, sure, have edit. And then I wrote number three because this is the thing you know is, I don't mind IT is, like you said, a hobby. But here's the thing that I would ask you is check yourself before you rock yourself in the fact of does this cause stress for you meaning that um when the stark goes up, you like hot digi dog, you're super happy on the those days.

But when the stock goes down, because you i'm sure you're not buying the S M, you'd like holy of stocks. Um if you find yourself on the days that those stocks are down six or seven percent, you go home and you kick and dirt near you get in fights with your loved ones. Ask yourself is a worth IT because here's what I find so interesting about individual stocks, and i'm guilty of this myself, is that we've had people on, on when we've met with them, them we've actually hit some half of hours is if you're never going to be content because if you hit IT, you you're going to likely after the stock is up three, four, maybe five, four, eventually take your profit.

And then if IT goes up ten, you big. Why did I sell that stock? That could have been the one where I turn ten thousand dollars into a million dollars, an idiot for selling that. And then I could go the other way, is that you hit one or two, and then you decide, you know, i've made a good money on these rolled into this half life, and then you lose forty percent pretty quickly and you'll just cuss and kick the dirt on that too.

So it's just be careful because if you if you fall in love with these individual stocks and you're setting a place setting at thanksgiving this year for women, you're passing the the gravy dish by and saying, hey, in video, would you like an extra helping of this as well? And you know that is a problem because you're emotionally they are treating, you know this is supposed to be an investment, supposed that not have a motion. It's supposed to be just something that grows and builds in the background. But unfortunately, when you do individual stocks and you do find yourself getting .

emotional attachment, yeah and I think just like with a gambling, I can be a very slippery slope, but maybe one hundred box a paycheck right now. But maybe you have some luck and you start to believe that you have some skill at this. And so then you increase IT to one hundred and fifty year, two hundred, and then IT goes on and on.

And so you just have to make sure that you understand your own unique personality, that you don't follow that trap. And then I would argue, you said you're in your forties, you realized every dollar you can put away at eight forty has the chance to turn into seven dollars by the time you get eight sixty five. So even though it's, quote, only one hundred dollars each, one of those hundred dollars could turn in to seven hundred by the time that you get to retirement as so there's nothing wrong with doing .

this on a small done. We have a new hyp policy around me. We are all guilty of this well saying, just know yourself, check your self before .

you that's what are hi devo if you would like a tumble ler, you can write winner at money guy that come on and we'd love to get that out to you even though Megan said no. Let's go.

Megan, Megan, in the high to the light.

I to able to take .

turns, i'll just put each of all over in the chair and flash the Cameron you to me up. Everybody else got here.

I I, you are for another question. sure. This one is from e money. e.

What would happen if said no.

he said, can you rank .

different account types .

based on what is best and worse to inherit IT? I'm specifically interested in where H S. A. I think this is a really interesting question because there has been some legislation over the past couple years that has impacted how we leave assets to our ears or if we are air, how we inhered assets. And not all accounts are created differently. So I think I would be interesting brand if you could talk a little about what are the best accounts for people to inherit. And as we think about legacy planning and leaving assets behind the future generations, if we want to maximize, optimize that, what kind of accounts should we think about? And there, what are some other benefits that maybe it's not even like an inherent thing, but what are unique benefits that each of the account types when you think about the three buckets might have from someone who who's inhering these assets?

Yeah, I will go. I'm sure you'll fill in the gaps on me and whatever, but it's easy in my way. This did change the stretch. R A rules have changed a lot.

Now you really have unless there um you developmental you know disabled or other issues or spouse um R S now get ten years is and they have they've now codified and corrected a lot of this because there's a lot of grey over, but the rs has finally come out. So I would still say rough. I mean, because tax free growth is pretty spectacular even if it's seniors. That's so that's a long pretty of time .

to get some tax free like as you build a dollars right now, not only are those dollars growing tax free for your entire life time if you don't use them, but is your lifetime plus ten years? I've even seen .

people who have a state planning issues that have done that for the sake of, you know, let's go in fun some after tax so we can get some more rough assets next up, put taxable. I mean, because I like to step up in basis, step up in basis. So when you pass away, you know if you've got a bunch of embedded gains, if you sold and what you're alive, you have to pay capital gains tax on IT.

But if you pass away with those appreciated assets, you actually your your benefit aries couldn't hear them tax free. And this is why I get mad when people you know like oversight on your death bed. If you signed over the deed of your house to your kids don't do that because more unlikely, your house appreciate fifty percent over the last five years like everybody else is.

Did you want to have your beneficiaries in here and get that step up in basis? So taxable assets in the way i'm thinking about in traditional investments. But as you heard, this applies the real state as well. So that's always a great thing to inherit. Um and then I guess you could then start talking about this gets into the things that we have a strict in some some rules to him is traditional array and savings accounts.

Those are harder to invest yet you get to ten years um potentially but there's also are you requirement of distribution rules to the patent? So I guess I would say maybe I would put the H S A before those OK because think about this, I am doing this in real time. Um those have R M D requirements and other things.

It's going to complications and earth savings. The first of all, the state before you start making distribution, you should see how many expenses you can actually get that money out within the estate, completely tax free. Are there medical expenses that need to be reivers?

If the decide and had been tracking in the medical.

if you're tracking expenses, the estate could go file the tax free distribution and turn that money. And essentially, taxable money is contribute IT out to the beneficiaries. If if if there's large says and they didn't track and the estate didn't claim what was qualified medical expenses, the beneficiary could still in here are these assets um then you just go pay.

It's could be like quasi retirement as you would have to pay income taxes on the distributions. But I don't think i'm not sure the R M D on that. But over the year, holdings, I think it's just going to make you distributed pretty quickly and then that leaves to the retirement. I don't know those is canvas or because I like that tiny stretch is pretty valuable somewhere in the that's the gray zone that's the personal and personal finance too yeah.

So I think what I love is is, is you recognize that different types of accounts are tax and treated differently as they become part of your financial plan. But when you do move not just a from the make wealth stage and not just into the maintained west stage, what are you into the multiply well stage? And you do begin thinking through these things.

There is a lot of fun planning you can do to think about OK. What are the best ways I can leave in and hair this behind from my kids or my ears, my beneficiaries. And the factors think about that shows you probably financial me.

right? Well, this is also, I mean, this is what it's good to say that complexity will not actually find you. You don't have to go looking for us.

You will know when I slept across the face cash and I thought about that, but you can see I was my s probably even lit up because IT is a fun exercise to start thinking about how you're going to navigate the jigsaw puzzle of complexity on different account structures. Each choice you make is going to have a different result and you're trying to baLance the prose, the coins and really help people navigate the best decision. Um it's fun for us to kind of optimize that. And imagine if you could have somebody a corner who has the skill sets, who has that aptitude and then while you're in your heardest of times because well as if you're the executor or whatever, you you have a loved one that passed away so you might not even be in your clears of mind because you had such a huge life event. IT is nice to have somebody can kind of help you navigate that even when you're probably who has your same mind that has that financial mute mentality, but just doesn't have the pullback or the struggle of some of the emotional stuff that you going to be dealing with in the realities of life.

Love you. money. That was a fta tic question. If you if I like, I recognize your name.

I feel like you have one of these, but if you do not have a tumbler ah, you can reach out to winter. W I am not onna spell IT at money guy, that com winner at money guy. Love to give that to you.

I can saw, okay, so right now I see math filing as arms. You going to tell? You going to tell the right, we're supposed to announced this is if we don't have been here, we told her forgetting.

you know, are supposed to announce.

I supposed to announce. So right now there is a huge, huge sale. I should black friday sale going on right now.

We are doing something that we have never done before. We have drop the Prices on some of our courses and tools. In a way.

we've never we've actually gone insane in the fact that both did this, by the way, because we had an idea of what we were going to do for like friday and then bog is no. Why don't we, since we are already at this point, just go in non least .

at this because I more, more people need access to our tools, to the things that were you able to use. I want them to .

make IT very easy for people to get IT in their hands. And since we didn't talk about vii talk, but I will say, even though we're doing some the world's best pricing on any other things we've ever done with financial of Operations, all the other stuff, um I think it's crazy. We didn't even plan this.

I was kind of surprised. I was just out there. They do my typical thing. I was trying to go read him as on reviews 30年， that's what you do is talking myself.

If I get bored, I go on amazon, I go on good reads and I read reviews wowow on amazon, looking at reviews. I like only cow. I've never seen the Price that cheap.

So millionaire sion right now on amazon is below twenty box i've never seen at that Price. I don't even how this stuff works. I'm so such A A new when IT comes to publishing.

So I don't think it's anything to do. My publisher, I think amazon see if we can push these things. I think when I checked this morning, we can close to forty percent of the books that they are selling at this discount Price is sold. So I get one hundred percent because maybe the names i'm order even more. I cool.

If you want to know more, you going to learn that money guy that come. I believe our sale in on a simple second. Is that right?

So sorry to step all over the other.

Sorry to lash black friday. If you want to see all the black friday deals, you have thirteen days left to do. This is a bigger sale we've ever had on all of our products because we want .

them to get in your hands. We would be .

so proud .

of us going a .

huge .

sale, ash.

Oh, really be if you watch you back the questions, you have another question.

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