The Salary Required To Buy A Home (Money Guy vs Ramsey)

26:09And then hopefully when you leave work, you'll start running the tax game and you'll have lower taxes. You'll have this bridge money coming in. It really creates a lot of cool planning opportunities for you. Now, the only downside with deferred comp is realize that it's a promise to you in the future. And if that company ever gets into financial trouble before you get your money, creditors would have access to that money before you would. Now, if your company's in great place financially, that's usually not something to worry about, but I at least felt like I needed to disclose it to you. No, that's really good.

26:41I'm just curious, how common is deferred comp as an option for people? Is it like a pretty unique It's on the size of the company. Once companies get to a certain size that they have enough employees that are at higher compensation, that they're trying to figure out how do they help the employees plan for the higher income to take advantage of all the benefits out there. They add top hat. They add deferred comp. There's all kind of cool planning opportunities they'll do to incentivize executive teams. Okay. I was just curious. That's what I thought. but took advantage of your knowledge. So D. Gloff, if you would like a Money Guy Tumblr, we would love to send you one.

27:21Just email winner at moneyguy.com. And thanks for being here and asking a question. All right, Christian is up next. He says, hi, Money Guy team. I'll stop contributing to my HSA after switching insurance next year. So he can't help it, Brian, before you panic. Yeah. It says, better to leave the money in the Wells Fargo account with limited options for when I contribute again? Or should I move it over to Fidelity, I'm guessing, to another type of investment account? What do you think? Yeah, I mean, I like, because, you know, there's nothing wrong with if you change employers and maybe now they offer you Cadillac health insurance and you don't even qualify for a health savings account.

28:03Because remember, before you can even fund a health savings account, you have to be under a high-deductible health plan. So it sounds like Christian is moving to a different employer, going to be on maybe a PPO or some other, you know, it's not gonna be a high deductible type plan. So he can't make additional contributions. But he's got money left in there. He's part of the 90 % of people who are not just using as a clearing account. I mean, he's part of the 10 % that's actually trying to invest this money. My personal opinion, I think I would try to move it to Fidelity. Because I think Fidelity is just going to have easier and better investment options, lower cost index funds.

28:43So it's going to be a pain in the rear though, because moving HSAs is not the easiest process, but it's, it also will set you up because if you're already investing, I don't know if you said you were investing at Fidelity too. I do love how it's all integrated into their one mobile app. It just makes your life a little bit easier. Um, and Fidelity, I mean, that's, that's where I have my health savings account. I get nothing from Fidelity for saying that it's just, that's where I have it. And I do like that I can kind of administer it and invest it right there from the same mobile app that I use with the other accounts.

29:14When you say it's a pain to move, is this still something that an individual could do on their own? Oh, yeah. You can do it. It's just you have to shepherd it. Yeah. Because custodians, you'll find whenever you're transferring money, sometimes it goes very cleanly and easy. And other times it's a phone call here or there. It's a follow-up here or there. Where are we in the process? because every custodian has a process to help you transfer the money. Okay. I just thought that was a good distinction. I was like, you don't need professional help with this, right? It doesn't sound like it. I mean, it is something we do for clients.

29:44I mean, we have a whole team that goes out there, and that's one of the benefits of having a good financial advisor is that sometimes these custodians, they play reindeer games that they don't want to. It's almost like they've designed a system to keep the money in-house. We have a crack recovery team. and they'll go out there and make it happen. A crack recovery. Well, you see those repo shows where you have to go send the biggest, baddest person to go out there and recover because somebody's acting like a deadbeat. It feels like sometimes custodians are acting like deadbeats with not giving you access to your money.

30:20We got some pipe holding people. They don't look like it on the outside because they're the sweetest looking lady. But they've got the knowledge. But they go out there and they know how to unlock those assets. Right, right. I love that. If you are ever interested in becoming a client, you can just go to moneyguy.com, click on a become a client button and fill out the form there and we'll connect you to the right service and see if this is a right fit for you. And also, I think that's a really good point of that is a great benefit of being a client, especially when you start having larger assets and you don't want to mess around with it.

30:52It's nice to have somebody in your corner. So I appreciate that you shared. Oh, there's so many. Like when you start doing QCDs with charitable contributions and other things and tracking all those, there's so many things when you get to retirement that you're going to be thankful to have somebody who's tracking your basis and all the other stuff for you. Because your life can stay as simple as you want it to be, but success is going to create complexity. Yeah, that's great. All right, we are going to do one more question, and then we're going to get to our From the Wings segment. I actually kind of like From the Wings.

31:23I know, I do too. I like it better than the it doesn't depend segments. I don't like the rapid fire stuff. I think you do well at it, though. I think you get in your head occasionally. Bo's better. Okay, I'll let you fight that out when he's back. But for now, let's go to JB's question. It says, hey, Money Guy team, what all goes into mad? How do you say this? I always read it. M-A-G-I. I would say just modified adjusted gross income. Modified adjusted gross income. Thank you, Brian. What all goes into that? I got a promotion from 100K to 135K. With some unexpected bonuses, I'm looking at 150K this year, close to the Roth limit.

32:06What should I do if I've already maxed my Roth? Yeah, there's several questions here. There are. Look, we could get into what modified gross income is, but realize there's things within the tax code. I mean, it can be, it's all kinds of things. So it can be IRA contributions. It can be, you know, in the past it's been like, we've even added some charitable contributions to the frontline instead of, you know, on standard, I mean, on itemized deductions, we've added teacher expenses. So it's just a gazillion things. There's half of self-employment income. There's just a whole list of things to go through.

32:44But for most people, the thing I want you focusing on is it's your gross income. That's really what your AGI is. What's your income before we get to deductions and all the other things? So I'm looking at$150 ,000 a year, close to the IRA limit. What should I do if I've already maxed out my Roth? Yeah, so he's maxed it. What if he goes over the limit? What does he do now? So the income limits I have, now I have 2025's limits here. is we need to get this thing updated. But it's for a... Let me find my limits.

33:23This is good radio when there's silence. 153 ,000 single? Is that right, guys? From the wings? Hang on, hang on. I've got it here. It's just... This is where... I thought it had gone over$200 ,000 I think that's still married filing jointly. And a quick Google. Yeah, here we go. This is 2025's numbers. 236 to 246. For single individuals, it's 150 to 165. Yes. So he must be a single individual. He's 150 to 165. Follow the foo. I mean, when you've crossed it, when you've maxed out both five and six on this, I like funding an after-tax account. You know, that's part of step seven of the financial order of operations is nothing's wrong with you opening up a brokerage account and start investing for the long term, even into that after-tax account.

34:26You know, you can buy index funds just as easily in an individual brokerage account as you could a retirement account. It's just the taxability is just a little bit different. What if that was a segment? We just pop quizzed you guys on contribution limits, current contribution limits. Because that's the problem. You have to understand, in my brain, I've been doing this so long. I know, it changes every single year. The number that comes out in my head for even married couples phases out at$166 ,000. I don't know what year that was, but that's the last one. And then I just told you, now for married couples, back in 2025, it was up to$246 ,000.

35:01So they indexed this stuff for inflation. so all it would do is show you the time capsule of the year that my brain works in and i've you know what i've often found interesting i think the year that i was the best financial advisor technically was probably when i was 28 years of age but i had the hardest time getting clients when i was 20 but i could tell you any fact or figure i had it i was like an encyclopedia now i think most people now think i'm a better advisor now because i have all this wisdom because I've built my own money, and the more success I've had, I've been able to pay it forward to our team where they understand where all the complexities lie with successes.

35:39Because that's the thing. I've tried to write the book on what you need to know to build, you know, your first few million dollars. But the reality is when you're going to DECA and beyond millionaire status, there's not like a single book out there on all the things. We've figured this out, and that's why I tell you, You don't have to be all by yourself with your success. I mean, that's the thing. I think about Beau when we've done commercial real estate and we're doing cost segs, all these fancy strategies we're doing. We do this stuff for our clients, too, because it's just hard to unearth all these different ways that money works if you want to kind of streamline, maximize, and also just make sure you're living your best life financially.

36:21You shouldn't have to try to figure all that out. Yeah, I love it. With that, real quick, let me give, who was it? JB. If that was your question, you get a Tumblr. If you would like one, just email winner at moneyguy.com. With that, let's move into our From the Wings segment. Here, From the Wings is where I read a current headline. And then Brian and Bo, or in this case, me, since I'm in Bo's seat, will hold up a thumbs up or a thumbs down. Is this headline news or is it noise? News or noise? And then we discuss. Are you ready to dive in? Yes. All right. First headline from Wall Street Journal says, moving back home used to be a sign of failure.

37:04Now it shows financial savvy. A little context from the article. Nearly half of American adults under 30 pinched by the high cost of housing are living with a parent. What do you think? Is this news or noise? I think it's noise. Yeah, I think it's noise too. But look, this is, I just had, we had a Q &A segment that Bo and I reacted to. And I was talking about how I did, I moved home for like three months after college. And I saved up enough to buy my purple recliner or burgundy recliner. The content team, by the way, in that react nailed the color. So I was very, you know, hats off to the editors on sticking that color.

37:47Lots of rejoicing going on in the wings right now. Because I think I said chartreuse or something. And somebody in the comments says, hey, you realize that's green. I was like, that shows I don't know any color either, but it just sounded like a fancy word. Really good at math and financial planning. But look, we know this whole, you've heard the term failure to launch and other things. We just also started the show talking about how hard housing is right now. So there are definitely unique things going on, but personal finance is so personal. I don't want you to see a headline like this and let it cloud your judgment on how you're navigating the financial world.

38:23You can do this. I'm here to tell you, I think that you just have to modify things. And you staying at home is a tool for a moment. But I do want you to try to get out on your own as fast as possible because just life happens different when you're out on your own. I have an adult daughter, and she's come back to the nest for a few months, but she's already got a plan. We've actually asked her to stay until we get back. We're going on a big trip to Scotland in September, and I've begged her. I was like, please just stay until we get back because my youngest child, we have to deal with that. It was nice having her there to help, but I want her out of the house at some point just so she can start living, doing the adult experience.

39:11Yeah. No, I agree. I said noise because just because somebody's living at home, you don't know on the surface if this is savvy or failure. It still could be either one in my opinion because personal finance is personal. Like what's the reason? What's the impetus? What's the plan in the future? Is there some family dynamic that's making this a big win or is there some family dynamic that's making this a big L? Like it's not all just that housing is up. I think that's, we kind of know that this is not as cut and dry to me. Yeah, I think you have to do what's best for your financial life. Just take into all the variables and don't let the noise of the news media or even people outside of your influence are saying.

39:55Because a lot of times they don't know the full picture. Okay, we've got some more headlines. The next one from CNBC. b. June home sales disappoint as prices reach an all-time high. I'm going to say news just because I hope that's good news. I don't know, though. You actually need to speak to this. Well, I mean, look, I think inventory is back to, well, as we came through a unique period where for 2021, 2022, and 2023, the typical house price went up by over 50%. So you can't have such a huge market event and it not create some weird distortions going forward. So I'm not surprised at all. That's why when people think trees grow to heaven and they think just because houses ran up this fast, there's going to be some distortions that come.

40:44So it doesn't surprise me. What under the surface of this is, is the inventories are getting bigger and bigger on houses for sale. And when you, you know, it's law of supply and demand. If you have too much supply, the only way you can get more demand to it is probably start lowering the price to where we start clearing out the inventory. So if you see June sales prices disappoint, prices reach all-time high. Right now we're still in the denial phase where I think the inventories are going up. People haven't necessarily dropped the prices as much as they're going to have to. and you're starting to see some of those distortions from that huge run-up are slowly starting to work their way out.

41:24That's why I wouldn't panic. Don't feel like you have to force the home decision. There's going to be opportunities in the future. Yeah, good stuff. All right, next headline from Forbes. SpaceX stock down 25 % inside the debt and equity risks. I said it's noise. Oh, so did Brian. Why do you think so? Yeah, no, I think it's, you know, look, SpaceX was the, and I'll say the word zeitgeist or whatever, because you couldn't, like I said, when my mom calls me up, and, you know, she's right at 80 years of age, she calls me up and is asking about SpaceX. We know that we have gotten full, I mean, the whole, everybody's out there painting.

42:05Even my mother-in-law, who's, she's in her, well into her 80s, she asked me about SpaceX. So this thing got way out, out over its skis. it's not what you need to be focused on. It was more of a sideshow. I think it's exciting to keep up with what SpaceX is doing because, I mean, there are big technology developments that are going on. But instead of trying to beat the market, just be the market, buy an index fund. If SpaceX continues to do well, eventually the S &P will add SpaceX after a 12-month period, and we'll know much more what the real price of SpaceX is. It was always a little questionable with you.

42:43And that's why we did that whole deep dive on SpaceX IPO because, and I was very transparent there because I've made money with Elon companies in the past. I will eventually own some SpaceX, but I was not buying into the IPO. I was going to wait to see what settled out because we haven't even seen what happens when all the insiders start selling their shares. It's just, there's such a small trading of shares available. We really haven't seen what's going to happen with the stock. Yeah, I don't think this should play into your financial life much or even at all. So, I mean, there's some unique circumstances where it does, but I think that's why I said it's noise.

43:23I don't think it's really affecting - It's more of a sideshow hobby. It's not what you should be making decisions for your main - Like if it, yeah, I don't know. I was going to say if you're really worried about - This is vacation money, not eating money. Like you have a bigger problem if this is like wrecking your financial life. That's kind of what I'm thinking. All right. Last but not least, Brian. This is from U.S. News. This is a good one. Are you ready for it? Okay. Australian officials ask fans to respect the privacy of Neil, a one-ton seal who respects nothing. Now, is this the seal that keeps coming back and is like wrecking havoc if he knocks over fences?

44:05He knows Neil. No, I saw a report on this. I saw a video. I saw a video. It was on the Today Show or it was on, you know. Oh, I'm so thrilled. The weekend edition of something. Yeah, I mean, so let me read the headline now. Australian officials asked fans to respect the privacy of Neil. By the way, have you seen the pictures of this? Do we have a photo of Neil? The video I've seen is Neil is literally laying. He's literally laying next to like, it looks like a roundabout or an intersection. and cars are literally driving by this big monstrous seal that's just hanging out there. I mean, I think it's cool.

44:40If I lived in this town, I would think it's pretty cool that they've got Neil coming back to hang out and visit every year. It's just kind of like, you know, because what is the Groundhog Day? This is just their version of the season. You know, Neil's back. He's back. But Neil seems like he's a horrible, he's not very nice because I watch him taking over like a utility, like transformer where he's just putting his weight on it, knocking it over. He took over a fence. But apparently Neil has a very large social media following. So now that in itself has become its own hurdle or potential problem because now he's famous and people want to see him.

45:16Well, hopefully people aren't touching him. They keep people out there to, at least the news report I saw, he has like a whole group of people that are out there to protect Neil too. There you go. I'm just tickled that you already knew who Neil the Seal was. I think you know more than me. You know, Bo wouldn't. Oh, no. He definitely wouldn't. Let's say Bo would be like, what? He'd actually know, what's a seal? Okay. That's shots fired severely there. Bo's a laying animal. He has no reason to know what seals are. He can't swim.

45:54All right. With that, that completes our From the Wing segment. Thank you for playing with us, Brian. That was great. We do have a few more questions before we wrap up the show. Are you ready to dive into those? I can do a few more. You can do a few more? All right, let's do it. Tony is up next. He says, my wife and I are in a cycle of saving and spending. We keep falling off budgeting after two to six weeks. This is relatable. We will save three to six K, then flip and pull from savings down to about one K and then repeat. Any tips for us? What I'm a little, because all this sounds behaviorally, from a behavioral standpoint, how much of this is goals driven?

46:39You know, that's what, when we're doing, we don't do budgeting because it's fun. And this is like what we do as a hobby. We do budgeting because this is, we're trying to set up some muscle memory. And so we can hopefully graduate to a cash management plan at some point where the money's automated going to where it's supposed to. but in the beginning it's just you knowing where all the money's leaking out at so it's not a hobby like i said it's goal driven so i don't love the fact that so far it feels like you guys y 'all get very excited about doing it and then you fall off after the money builds up and it sounds like you literally fall off the wagon of of good discipline and go spend the money and then you start the process all over it but y 'all need to figure out and that's why i do love you know whether it's Millionaire Mission or just going and downloading your copy, you have to figure out the why part of it.

47:29Because if you're just trying to save money for the sake of saving money, it will feel empty and you'll find yourself highly subjective to the behavioral stuff. Whereas if it's goals driven and the why intersects with a bigger purpose that you're trying to build money for, I think the stick with it kind of starts building up much more and it also helps you guys to communicate better as a couple. I agree. And here's what I'm thinking about mindset. This is coming from my own personal experience. I think I relate to this on a smaller scale, but the part that I don't get is that you say you save up three to six K or it sounds like you're a couple.

48:06And then, but then you get down to one K in your emergency fund. That scares me. Like I'm almost, I'm too scared to do that. Like it's different if you have a full three to six months of expenses and maybe you spend 2000 and have to like put it back up. But if you're getting all the way down to$1 ,000, I would let that fear drive you. Be like, hey, we can't spend that$3 ,000 right now because, shoot, what if an emergency happens? Because once you have the full emergency fund, that truly is like a backstop. And it does change some things. But I don't know. I would use a little bit of fear to help you get that behavior muscle started.

48:42I don't know. I hate the idea of only having$1 ,000. I'm doing budgeting wrong and the fact that it might be too restrictive. Yeah. Because if you're going hog wild with the budgeting and you're shutting it all down, and then you build up a nice little pot of money, and then you just can't stick with it, so you then spend it all out. Right, because you're depriving yourself so much, maybe. Maybe. I would ask yourself if you're even doing budgeting the right way. It needs to be realistic to where it's sustainable. I mean, this is – look, we always make the correlations to health is wealth and diet and exercise is the same as the same type of discipline that goes into saving and building wealth.

49:24If you were going on like a fasting, yeah, you lose a lot of weight because you're just not eating. But it's not sustainable. You know, the way you're trying to save money is you're like with an iron claw or iron fist. You're ruling the household, not letting any money go out. But then as soon as the money builds up, it's not sustainable. So you go and you binge, spend the money out. Go look at how you're doing the budgeting process and make sure your assumptions are sustainable. That's the first thing is you have to have a good budget, not just this artificially restrictive budget that's not sustainable to you or your spouse.

50:03And I'll tell you, from marriage advice, it's going to be much better if you're also very realistic to what's going on in the household versus what you want to go on because you don't want to have conflict down the road because you come off as a stingy, tightwad spouse that doesn't let any dollars slip out to have fun and build memories. Yeah, practically Brian's right on that if you're depriving yourself so significantly for too long of a time, it does become not sustainable. I love the idea of putting a time limit on it and then also reevaluating your budget to do what Brian said and make sure there's it's actually realistic.

50:40I also wonder if like if you're putting a time limit, OK, like we're going to try to get this back up in six months or in this calendar year. like is there an opportunity to just for a season bring in a little extra income or like what else could you do to get you up faster so that then again like if you do wanna you go on a road trip you need that that little bit of extra like five hundred dollars it's not as big of a deal because you have your six months of emergency fund built up you know what i mean i mean there's a reason that that in the financial order of operations both steps one and four cash reserves it's it's to keep you from making desperate decisions.

51:16If you know you're like that, then you've got to build that into the system, I think. But I don't know. That's an interesting question because that is one of the ones that's personal. It sounds like there's definitely some mindset and behavior stuff going on and you definitely need to define your why and your time limit on hitting those goals is what I'd say. All right, Tony, all that to say, we do appreciate you being here. You're asking the right questions and we would love to say thank you for that by sending you a Tumblr. Just email winner at moneyguy.com to cash in on that. All right. Next one.

51:47Did you like my fear comment or was that too fear mongering? What do you mean? I didn't want to ask you that. Because I was saying like, man, that would make me like really nervous and give me a little anxiety if I only have one paying cash. I think fear is a healthy motivation. Because you should be fearful if you've completely exhausted your emergency. Yeah. That was truly just me. Like I know that I'm more risk averse than some. And so that was like my take. So I was just curious what you thought. Because I think it can be a good motivator, but I also don't want to fear monger people. No, I want people to feel that sense of urgency when they're not doing everything the way they're supposed to.

52:24Because hopefully that will get them on track with the behavioral stuff. Okay. I was just curious. Next question is from PengiWins2442. PengiWins. Oh, Pengi. Yeah. I'm looking to buy a Porsche. From a good friend and mechanic. $16 ,500. So I want to take money out of my individual brokerage account. I'm 25. I would be left with$265K in retirement and$39K in individual. I think individual stocks, I guess. And so the question is, after all that information, is this bad? I feel like you have so many thoughts on this. There's just so many data points that I'm like, wasn't expecting that. Wasn't expecting that.

53:12Bingy, here's the thing. I mean, you're 25 years old, and to have$265 ,000 in retirement, $39 ,000 in an individual account. That's pretty wild. But the practical side of me is like, because I don't know if y 'all saw the story. When Elon hit his first big transaction, I think he went and bought a McLaren, and he was driving a McLaren around every day. And, you know, this is day-to-day driver. And I think you realize very quickly, that's a bad car to drive around every day. Now, Porsche is a little different than a McLaren, but it's still for a 25-year-old. I just know the cost. I'd be curious for$16 ,500.

53:56This is not a 911. I'm trying to figure out if it's like a Boxster. I'd be curious to know what type of Porsche this is and what's the why. Because that might be a hobby car. I mean, at$16 ,500, this might be just a secondary hobby car. And for somebody, look, this is where Pingy, you're trying to get, I don't know if it's rage bait or whatever, but I would say, because this sounds like you might be at step eight. If it's$16 ,500, I'm not going to pick on you if you went and bought this car, assuming it's a hobby type thing. And you obviously, and that$265 ,000 in retirement and$39 ,000 is through your hard work and your saving.

54:37Yeah, go do that. Now, that's different than if you were trying to buy a$145 ,000 Porsche as your day-to-day driver. I would not be for that. But if you want to just go have a hobby and dabble, I grew up with my father and my dad restored classic cars and got tremendous joy out of doing that. There's nothing wrong with you getting pleasure out of using the fruits of your labor, but probably wouldn't be my day-to-day driver. a$16 ,500 Porsche. But yeah, so I'd be okay with that. Wow. So in summary, is it bad? Brian says no. Is this true? It's$16 ,500. I mean, this is a Porsche that's just, and somebody who's got$300 ,000 saved up at their 25 years of age.

55:23Makes it less of a big deal. Hey, can I go spend$16 ,000 on a hobby? Yeah. Go have fun. I want you to leave your 20s without regret. I want you to leave your 30s without regret. But also, by the time you get to your 50s, that your 50-year-old version of yourself looks at you and says, well done. That's the balancing act with all things in life. Yeah. No, I think that that's – oh, we have a – from Pangy, he says the Y on the – it's a hobby car. I already have a paid-off 2016 Camry. So you were right on. You were right on. Yeah, so go have a hobby car, and then that'll be something from a memory standpoint.

56:02Could be pretty powerful, especially if you're doing a lot of the work yourself. That's kind of a fun little thing to be working on. Yeah, I agree. I like when you get to tell people, like, yeah, you get to spend the money. Because it is true. I was kind of like, oh, he's 25, and he's buying a Porsche, and he's pulling from his investment account. Well, that's the brochure part of it. You look at that, you go, Porsche? 25-year-old? No way. But then as you got into details, the deductive reasoning was, I bet this is a hobby. Yeah. And he's done a lot. Like if he has$239 ,000 in retirement at 25, he's done a lot of the hard work.

56:34We can answer these questions by you going to moneyguyoraboundwealth.com and clicking on the work with us in a few years. I mean, as soon as you get that thing over half a million dollars, man, we can make some magic. It's true. So true. Click on becomeaclientmoneyguy.com. All right. Let's do one more to close it out. Are you ready? Sounds great. B. Wazian, I think. That's what we're going to go with. He says, hi, Reby and Brian. Hello. My wife is about to take a state job and will have access to a 403B with a match and a 457. Is the 457 a better bridge account for fire versus a brokerage? So they want to do financial independent retire early.

57:14Yeah, I mean, this is somewhat easy, but it needs to have some asterisks on the answer. Yes, the reason we love 457s is because they don't have the early withdrawal. Most retirement plans, like a 403B, a 401K, you have to be 59 and a half, or you have to be separated service beyond 55 to get access to that money penalty free. 457s don't have those restrictions on there. That's why it's typically government. I love this for like law enforcement, you know, fire departments, other things, because those employees get to usually, you know, retire earlier than your traditional 60. And I like them to have access to the money.

57:54Now, there is a caveat here. There's a 403B. By the way, you can do both. You can have 403B and 457. And it says with match. And you all know where match money is. Get that free money. That's step two of the financial order of operations. So before you jump immediately over to the 457 because that gets you excited about funding, those Coast Fire type things, I would make sure you're getting the free money from your employer on the 403B. You can do whatever the funding limit is up on the 403B, and then the amount after that, you can go down to the 457. You can do both. Good answer. B. Wazian, thank you for the question.

58:32If you would like a MoneyGuy Tumblr, just email winner at moneyguy.com. We would love to send you one. And there's something I need you to do, and that is to click the subscribe or follow button wherever you're watching or listening because I want you to stay in the know, and here's why. We have been scheming behind the scenes. Scheming? Scheming about a lot of fun things that are coming out. We have some launches. We have some announcements. We have some new things that may or may not be free. We have collabs coming. We have a lot coming in the next couple of months, and I want you to know about it.

59:07So subscribe to the channel. And then even better, go to moneyguy.com, click follow, and subscribe to our email newsletter. Because there are times where you're going to get more details or maybe even be the first to know about certain things. And I don't want you to miss out. So if you're at all interested in that, if you're at all curious about what I'm saying, just trust me and do those two things. And by the way, our newsletter, I can't say enough good things about it. That's worth it of subscribing right there. I, every Saturday morning I open our newsletter. Cause I look, I don't write the newsletter, but I love to see what our content team has put together.

59:43Cause usually they either are picking on me and Bo. They have a headline. There's tips and tricks in there as well that are, you know, part of, there's some of our social media posts that we're putting out there. It's our releases that recently come out. You're going to keep up on it and we don't spam you. This is where we take you giving us your email address, very serious. and we don't sell it. We don't spam it. It's just something to help you be better with money and accelerate your journey. I think everybody, hopefully you guys hanging out with the brand, you'll see there is something to this abundance cycle, meaning that we're going to just love on you so you can learn these concepts, you can apply these concepts, you can accelerate your journey to success.

1:00:23And then when you reach that success point, you realize, oh my God, Brian Bo Reby were right. Complexity does create, or success does create more complexity in my life. and you'll remember who planted all the seeds of knowledge that have now sprouted into your success. That's the abundance cycle. And we'll leave the porch light on you so you can come and take the relationship to the next level. I'm your host, Brian, joined by Rebe this week. Bo will be back next week. Money Guy, out. The Money Guy Show is hosted by Brian Preston and Bo Hanson. Brian and Bo are partners with Abound Wealth Management.

1:00:56Abound 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.