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June 22, 2021 8:03 am
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Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah centers officially here and if your plans include might be interested to know that while you're relaxing with your toes in the sand learn a lot about investing.
Rob was yes it's true that he told some important lessons for making wise decisions about your money investing expert Mark Miller is here to tell us about them minutes audio calls at 800-525-7000. That's 800-525-7000. This is moneywise live God's principles guide our guest today is Mark Bill sound mind investing where it seems folks think about investing. Even Mark when they're at the beach. Welcome back to the program. Thanks, Rob. Glad to be here were talking about an article in the latest sound mind investing newsletter.
It's entitled, as you will know everything I needed to know about investing. I learned at the beach.
It's clearly lighthearted, but has some incredibly practical wisdom is in it doesn't. It sure does. This is an article that our founder often. Prior wrote several years ago, a few days before heading off for his family's annual vacation at the shore so the beach was on his brain and that the kind of a clever summertime way to drive home some investing basics absolutely well. We want to meet people where they're at. This certainly does that. But let's walk through some of those practical investing lessons to be learned from going to the beach where we start. Well, the first lesson is to make sure your basics are covered and so awesome, start this article off by saying I can't just leave for the beach anytime you want.
If you want your trip to go well to be able to have a great vacation, some preparation is usually required.
So for the beach. That might involve finding a place to stay, maybe lining up a housesitter getting some extra cash to have on hand those sorts of things and when we translate that over to our investing. There's also some important preparation that we need to do before we just dive right in and start investing in individual stocks or whatever might do, and specifically their what were talking about is investors really need to lay a firm foundation. They need to put the groundwork is getting out of debt and saving up an emergency fund in place before they start off on any grand investing adventures. No question. Obviously, preparation is crucial in Austin makes it really clear Mark what's next list. Well, it's what most of us would do Rob before taking on a road trip and that's figuring out what your travel plan is and then trying to stick closely to that.
So for vacation.
We'd normally map out the root were going to take ahead of time so we know this way you try to leave on time you drive safely you avoid taking unplanned detours. Those sorts of things. And while that might sound a little bit rigid to some people who are. You don't want to free-spirited a little bit more and we point out that the point here is really to reach the beach safely and on time.
And that's how we think that people ought to think about reaching their retirement goals. I might feel a little rigid, but when it comes to saving for retirement. The goal isn't to have an exciting journey. If they reach retirement safely and on time with your finances so and we translate that into practical terms were talking about following a personalized stock, bond allocation and long-term plan plenty of diversification and trying not to take lots of detours along the way. When these exciting new investing billboards try to entice us from the side of the investing road love it all right now or at the beach. We have our investing plan in place and staying with the lighthearted theme you want us to be patient with our 10 angles what.
So the patient or their tanning goals. We don't want to fall for those higher risk get tanned quick strategies. It's just too easy to get burned. So keep it simple. We don't need tanning seminars and gurus. It really isn't that complicated. Follow the basic don't try to too much too soon we won't go wrong and it's exactly the same with investing well were talking today about everything you need to know about investing can learn at the beach it comes right from the latest sound mind investing newsletter. It's an article entitled everything I needed to know about investing. I learned that the beach will continue with much more just around the corner Mark Billings with us today taking your calls and just about 800-525-7000. This is moneywise live live. Thanks for joining us today, taking phone calls just a bit longer than the program but we'd love for you to go and get in the queue question today for Mark Miller or myself on anything financial. We'd love to hear from here's number 800-525-7000 800-525-7000 Mark Miller's executive editor at sound mind investing in today were talking about a recent article in the latest SMI newsletter its lighthearted approach to investing with everything you need to know, but it has a beach theme and that we've Artie talked about the fact that you need to make sure the basics are covered that you're prepared to start investing meeting you got that emergency fund and placing your living on a spending plan you got your consumer debt paid off that you have a plan to get there so you know what your goal is and you're not taking any detours along the way and then that you don't get sidetracked with the latest get-rich-quick strategies which it seems Mark is been all too common these days. You know, between some of the highflying tech stocks in the crypto currency of fad. It seems like investors are more distracted than ever with get-rich-quick opportunities. Are you seeing that for sure. I think that when you have a run like like we've had in so many different areas since really last April and especially since last November when things really took off. It just, you know that fear of missing out. The foulmouthed people talk about this really kicks them whether it script evening of commodities receiving these rips then and more basic stuff so you tend to think of tech stocks and crypto currencies and those kinds of things is often being real speculative but when you're seeing now copper and oil and just got a regular stop taking off here lately too. It's really easy for investors to come to take their eye off the ball as far as their long-term plans and feel like they want.
Maybe take a little extra risk and and go after some quick profits. But as we've seen here in the last couple of months, especially with the crypt that can really be a dangerous way to go and you can lose a lot of money. Just like people can make a lot of money in short periods of time. No doubt, you gotta be on your guard there and stay focused study plotting is the. The idea that the Bible uses and I think that's wise counsel for us today before we take some phone calls. By the way, if you have an investing question for Mark Miller today 800-525-7000 Mark give us the next principal from this article and it has to do with wave patterns doesn't so that next investing lots and you can learn at the beach is to ignore the short term wave patterns and now maybe like like me you like to read at the beach with one of those low-slung chairs right at the edge of the water. And if you've done that before you know that those waves can be a little unpredictable and you gotta move your chair from time to time to keep from getting soaked by those waves. The point were trying to make here in this article as it relates to our investing is while the waves follow a trend. They are unpredictable in the short term, so you might think that they're going to stop a few feet away, and then all of a sudden a really strong one comes in and get you and so short-term there a radical longer term we can look at tide charts and whatnot get a pretty predictable idea of where those waves are likely to go and it's really similar with our investing so were were trying to avoid trying to predict where each individual way of the real short-term moves of the market are going to come and go, and instead were going to try to base things more on these longer-term trends and build in a little bit of a margin of safety so that those occasional waves that that come in strong argument really upset us and when I can overreact either when when a short term wave comes in a little stronger than we anticipate. Yeah, no doubt, that's so important to remember, it's all about the long term that's easy to say more difficult to do and yet so critical to effective investing, which is for sure over the long-haul remark. One more and then we'll get to some phone calls.
Okay well this next one is something you really don't want to do at the beach or in your investing. That's comparing yourself to others that can be hard at the beach. We'd all like to look like a 22-year-old fitness model but you know for most of us that's not really realistic. We've got a Taylor beach prep our diet and workout strategy to who we are and that's usually someone who is little older, trying to balance family work, church, and so on.
The point here is very simple. Rob enough, a 60-year-old is trying to work out like a 22-year-old they're probably going to end up getting hurt. And it's the same way with investing. If you're trying to follow an approach that's really suitable for somebody else but not for you, you're probably going to get hurt as well. So you want to make sure that your investing approaches tailored to your specific situation, not some unrealistic vision of someone else and again you mentioned just a moment ago. Now this is the slow and steady plotting wins the race, not crash diets or their investing equivalents. No doubt about that. Sorry. Let's get to some phone calls. We do have a couple more lessons on investing. We can learn from the beach but we want to know what lessons you'd like to learn today. Let's head to Cleveland, Ohio. Evelyn is been patiently waiting. We help you today. I love your show employed for probably another four or five year. We don't debt paid out except for payment. No credit card account and we should be and what should we do with that money. Very good. Mark your thoughts yet, so the.
The trick with that Evelyn is that you know when you start getting closer to retirement age. Typically, most people are advised to bring the risk level of their investments down and so normally. That means moving away a little bit away from the stock market and more towards bonds and those types of assets. What makes it tricky right now Evelyn is that bonds are not yielding a whole lot. Interest rates are so low, so it can feel like you and I got this money in savings is not earning a whole lot, but the safer alternatives that you would typically move into like the bond market.
Those really are yielding a whole lot right now either. So it's a little bit less of a big step in the anticipated return in moving from the safety of having that money in savings into something like the bond market typically is your your heading retirement.
You know it's it's good to have a couple years of expenses in very liquid savings anyway so I wouldn't be rushing to take that savings money and get it into something more aggressive. You could maybe think about taking a portion of that in moving that out into some some bond type investment investments, but I a good portion of that probably it is reasonable to keep that in savings vehicles. Rob, what are your thoughts like that advice a lot more you'll perhaps Evelyn think in terms of the years worth of expenses in savings and then move beyond that Mark just a quick follow-up for you on that. What would you be looking for in terms of the market conditions in the economic environment for Evelyn to decide it's time to move toward those more traditional retirement income-based investment options. Yeah, I think that you know right now. We had such a big run in all of the more aggressive parts of the market. The stock market and so forth that I would at a minimum, probably be looking to be a little bit more opportunistic if if you're gonna put some of that into a little bit more risky in a stock market type abutments you may be looking to do that on a pullback as far as the bond side, it probably isn't.
Is it necessary to really be looking for any big cues at this point and I would probably tend toward shorter term may be stretching out in the intermediate term bonds, but long-term bonds are to come with quite a bit of risk so I would probably avoid those that this point very good Linda for some further assistance on that reach out to the folks at soundbite investing. You can do so would sound mind investing.org all the best to you and your husband in this exciting season of life. We appreciate your call today. I will be taking more of your calls Mark Bill is going to stick around with us until the bottom of the hour so you have investing related questions specifically between now and the bottom of the hour. We'd love to hear from you.
800-525-7000 800-525-7000 much more to come on moneywise live for God's word intersects with your birth really enjoyed moneywise live today Mark Diller executive editor at soundbite investing is long with us until the bottom of the hour we've been talking about investment lessons you can learn from the be summertime theme in we have one more of those to share with you. But first, let's head back to the phones in Randall. I understand you have a bit of the testimony today.
Tell us what you have in your mind all thought if I was anymore full to me and right away. We just got back from Lake Michigan and so we got our toes in the sand tube was hot and were home now that I just wanted to know not only you folks but those that are listing that wanted to me, the greatest investment that you can ever make is learning to obey God and tie and not only tired but give offerings that the step above say okay so consequently my wife and I have been tiling since we were just kids. My wife died long before I did because I didn't become at the Christian until I was about 18. So when we got married. It was no question we started tightly or I mean, we continued archiving and are giving and we we were out on kind of a rough spot, you know, when we first got married and so forth.
But we continue doing that because it was simply God's word and so anyway we just You living for God and in God would speak to us to increase our giving is perhaps the missionary, whatever you know and you look at the books and sometimes how does it work you don't.
But let me tell you it works.
It really does and I wanted to share that with everybody and perhaps you think you can afford to try you can't afford not to type you can't afford not to give you know and consequently God's blessing of it is that we build a new home. We put quite a bit of money down on it and then here all year or two ago we paid our house off and I was always told that if you finance a house for 20 or 30 years. If you if you finance it for that link. When you get done paying port you just bought two other homes you actually paid for two homes and I him term and I'm not going to live that way you know I live that way at all and I rest no question also is to this day and age made. You have an answer for me. How do people make it today on one income. I do not know honestly how people can live on one income. I know a couple that they never ate out they never went took a vacation day. They never did what a lot of people usually do on a steady basis. You know, because her husband worked and he did make that large of an income your remarks today amid such an encouragement and you share our heart beat today and that is we gotta start with giving we don't start with provisional though that's important, but will end up with in an endless list of needs and wants.
We start with our generosity because the gospel is a generosity story for God so loved. He gave and so as we as an overflow of our gratitude to the Lord.
It's amazing what God does in our lives and in the lives of others.
As we connect with him through our giving, and you certainly affirm that today so we appreciate that testimony today.
I know it's been an encouragement to those who have heard it on to Bentonville, Arkansas Patty, thank you for calling today. How can we help looking to channel every now and I I'm I have retirement cash account with Ameritrade like insurance. I don't intend to go back to work now or maybe ever.
I've literally been wondering what I do know I have invited you TD Ameritrade.
I can speak you.
I'm very conscious about he had gained a lot with our nonretirement picnic. I just don't know who to go to the track type collar. We are very fatal. There are many, but now I need you for the way like 12 so sorry to hear about your husband's passing. You obviously want to be a careful steward of what God has entrusted to you will affirm this idea that you're not making any quick decisions you want to go slow. Be methodical get wise counsel and love the fact that you want to honor the Lord in all of this Patty my hearing correctly, your debt-free. Your expenses are covered through Social Security or are you needing to live on. Okay, so I can carry okay what is the amount in that investment nine, 309,000 very good. Let's do this work in a pause for a brief break coming to get Mark Diller to stay with us for one more segment which he is always glad to do come back from this break to get him to weigh in on your next line.
This is moneywise live here with us. Thanks for joining us today on moneywise live on Rob West calls and questions at 800-525-7000 Mark Diller along with us. In this segment talking about investing lessons we can learn from the summertime it will get back to so few of those lessons in just a moment, holding the line is Patty. We were speaking to just before the break, Patty unexpectedly lost her husband after a battle with cancer and is now really just try to navigate where she goes from here financially and Patty is you shared before we went to a break and as we talked a little bit off the year you got about 409,000 available plus a 50,000 in an emergency fund, you're looking how to manage that on the horizon are a couple of things number one you may need to supplement your income, which is largely covered by Social Security benefits. With this investment account.
You may at some point not now want to buy a home that down payment would come out of this and obviously, any mortgage that you take on.
You have to be able to cover in your expenses and then beyond that you mention not having any health insurance to speak of.
Let me tackle a few.
These first and will talk to Mark about the investing side.
I think it's really critical that you hang onto that 50,000 in a liquid savings account. I'd love for you to have at least two years worth of expenses.
There just for peace of mind. Number two is I'd contact our friends at Christian healthcare ministries for a noninsurance healthcare solution that's budget friendly.
They shared literally over $5 billion, with Christians over the last 40 years, and it would really provide that piece of mind to know that. Tell your healthcare was covered per incident over $500 you find email@example.com I agree it's not the time to buy a home because a housing market is red-hot. I don't want you to buy at the top, so to speak.
The other issue is just with the uncertainties about where you find yourself wanting to land in terms of location, would I think prohibit you work really should cost give you some caution about buying right now because in this housing market. I'm encouraging people not to think about staying these five years but really 10 years. Just because we could see a dip in the housing market.
On the next one to two years.
So I think I would sit tight.
The question is how to invest this money in the meantime, given your need to preserve it so you have it for the future but also to be able to generate some income that could help to cover any remaining bills not covered by Social Security and Mark. What are your thoughts on that piece.
I would just first of all, affirming that advice you just gave Rob that you waiting a little bit of time before making really big financial decisions is really a wise idea. After the death of a spouse. It's not unusual at all, that in the first 6 to 12 months that things that seemed like a really good idea right away. Maybe you're getting a little different perspective. The idea of maybe wanting to be in a different location close with other parts of family there are any number of things can enter in there, so we just affirm that to try to hold off on making any really big financial decisions right away but as far as trying to supplement that income. There are a number of different ways that you could approach that and and some of that will depend on on exactly how much you need there some safe ways to do that with with fixed income, with things like bullet shares, as it is one thing that we wrote an article on not long ago that is a fixed way to know exactly how your bond investments are going to pay off over set intervals of time without much risk it all.
So there are a lot of different ways you can approach that and and certainly we cover a lot of those in our sound mind investing newsletter but you know in a situation like this. I'm I'm particularly inclined to encourage encourage people like like yourself Patty to talk to a couple of advisors and and maybe get some input from those folks that have helped other people through similar situations. He's got a couple really good resources available to you through the moneywise live website the kingdom advisors group, you might be able to find somebody who's right in your local area. You could also go to the sound mind investing.org site and and you can follow a link there to talk to one of our SMI advisory stewardship advisors. We help people in similar situations quite often. But again, I would encourage you to talk to maybe two or three different people and and just you explain your situation.
Talk to them. Get a comfort level. It may may be that you really click with somebody that you think can help you put together a little bit more detailed plan and it's not that you couldn't do this on your own with the type of information we have in our sound mind investing newsletter. But when you've got so much going on after the passing of a spouse. It can be really helpful to just have an expert come alongside you and be able to walk you through methodically and you know give you that counsel and even sometimes, just as a sounding board of the ideas that you're thinking about so I'd hesitate to give you real specific ideas here in a conversation like this I would really encourage you to maybe make a couple calls and talk to a few folks and maybe get a few different ideas and then be able to sift through those ideas and see what seems right to their Rob thoughts I completely concur with that, he needs wise counsel here, but you're on the right track. Patty's will be encouraged to trust the Lord in all of this be prayerful but seek out some folks who can assist you. So next steps for you moneywise live.org search for a CK a a certified kingdom advisors in your area.
Also avail yourself of sound mind investing.org and if you hold the line. Patty will send you as our gift today. The sound mind investing handbook which will get you up to speed on a lot of what Mark was talking about and some biblical principles related to investing appreciate your call Mark back to our topic that we started with today.
We were having some fun looking at investing principles we can take away from summertime fun at the beach and I know we had one more. We hadn't covered.
What is that idea you'd like to share with us yeah will rob you just like as you would with any trip to the beach with investing, you've got to expect a few rainy days to be next. Then you have to go to the beach for a week or two if you get a thunderstorm or rainy day. You don't just pack up and head for home.
You stick it out. Hopefully you've prepared and planned for that possibility got some books and boardgames.
Whatever you like to do on a rainy day.
You also don't panic that that thunderstorm is going to turn into another.
Noah's Ark type flood you recognize it for what it is rainstorms, and go there, a part of going to the beach and there's the obvious parallel, hopefully it's obvious with our investing where if were to be investing for decades were going to encounter multiple bear markets and market corrections along the way there. Part of the journey we need to have a long-term investing plan that can handle those types of downturns and stick to our plan even when the market is is in one of those periodic rainy days then hopefully that will help keep us from panicking every time the market takes a bit, no doubt about that. Well Marcus is been fun, but incredibly practical appreciate you stopping by. As always, and I know will have you back real soon. I look forward to that. Things are probably looking for Rob, thanks so much, absolutely. I guess today is been Mark Miller, executive editor of sound mind investing your headed to the beach are already there.
Perhaps you can check out this article and sound mind investing.org it's called thing I need to know about investing. I learned that the beach because we come back toward your phone call number 800-525-7000 stay with us more delighted with the moneywise live. It's the summertime we been talking about that today, which also means we could really use your assistance with supporting our ministry here at moneywise media. The only way we can bring you this broadcast each day, plus the moneywise coaches all the great content on the web and the assistance through the certified kingdom advisors and oh by the way her moneywise app which now more than 13,000 of you have downloaded and were so excited by about that. The only way we can bring all that to use through your generous support to moneywise is listener supported and certainly during the summer months, more than ever we rely on your assistance.
So if you consider yourself a part of the moneywise family. You'd be willing to prayerfully consider a gift beyond the giving you're doing to your local church. We would certainly be grateful whether it's one time or monthly just head over to our website moneywise live.org is click the donate button and we would certainly be grateful. Let's head back to the phone, Chicago, Illinois Mike, thank you for your patience today. How can help user question regarding yes I talk about it. Spouse Mary titled their deceased spouse Social Security right that they got married over 60 sheets about your that's exactly right Mike, you're on the right track their assuming the marriage has lasted for 10 years or longer. At a minimum, then if you remarry after you reach 60 years of age or 50 years if you're disabled then it has no effect on your ability to receive your surviving ex-spouse's benefits in order receive benefits from your deceased spouse. If you divorce again.
The marriage will have needed to last 10 years or longer. You would not receive a survivor benefit.
In addition to your own survivor benefit. So Social Security will pay the higher of the two amounts so I think that's the key there. If you're the divorced former spouse of the deceased Social Security recipient, you might qualify for survivor benefits on his or her work record and again they would automatically pay you the higher of the two.
If you are entitled to your own benefits, but yes, you're right. The semi-last over 10 years. The marriage and if you remarry after age 60. It would allow you to continue to receive those benefits of your deceased spouse. So or ex-spouse. In this case up.
Hope that helps to clarify this. I know I can get a bit tricky. And if you have further questions, don't hesitate to reach out to the firstname.lastname@example.org they'll do a virtual visit with you or perhaps in your area. You could even visit in person and get all the details on to Lake Alfred Florida Elizabeth thank you for your call.
How can I assist you all when I have a lot that I eat from high lot about it that I had never learned how to back Dailey always do it by market or not. Tell yet.
I got out and dammit and you forgot time that out of debt and money that never moment a year now. No not that you say Disney is in Disney World yet Florida why then I retired very good all right yeah this is just a very common issue Elizabeth because so often you know unless you've done this throughout your life or you've been trained to do this, it can be a little bit overwhelming to think about how I take this money that I'm sitting on and put it to work.
How much do you have roughly in this Roth IRA.
About 40,000 okay very good. Recommend a couple of approaches one would be connecting with our friends, of sound mind investing that sound mind investing.org.
Through the sound mind investing newsletter. You can get all the assistance you need to use mutual funds, which is basically think of it as a a basket of investment options so you're properly diversified. No matter how much you have an even 40,000 among a large number of stocks, but in a way that's consistent with your goals and objectives. So through the sound mind investing newsletter. You could have recommendations on the mutual funds to use based on your age and risk tolerance and time horizon to give you all the assistance you need. The other approach you and I would recommend this for somebody with let's say less than 75,000, which would be in your case is appropriate would be one of the what they call Robo advisors so you could go to the Schwab intelligent portfolios at Charles Schwab you could look at betterment or the Vanguard advisor, but essentially these Robo advisors use of sophisticated algorithm to create a an index portfolio and that's just a fancy way of saying it's a portfolio of stocks that mirrors the broad indexes but it's properly allocated for your age and risk tolerance of given that your retired, it would be a higher concentration toward fixed income type bond indexes and then a smaller portion toward stock indexes, but you'd be really properly diversified.
You capture the broad moves of the market, it would be very low cost as well and it's just a real simple and effective way to invest, so I would check out one of those two sound mind investing.org or if you want to go the Robo advisor approached the Schwab intelligent portfolios were betterment and if you have questions after you look into those that don't hesitate to give us a call back.
We appreciate your call to North Canton, Ohio Brad, thank you for calling today during it. Okay.probably be careful now that I'm good I'm good anyway I'm ripple of actually and then there are questions that refinance my house. I retired a year ago. The payment you are not a problem I can make is just fine, but yelling at 4.25 and I still have 25 years on my loan so might the thing that I wrestle with is that when you talk different companies goes anywhere from you to refinance your house end up adding to your yoke to the overall mortgage either $5000 depending on what interest rate that work that are not well it depends. So you have a 4 1/4% interest rate you get 25 years remaining.
How much do you have left on the balance of the Morgan hundred and 4000 and 40,000 hundred 40,000 you plan to stay in his home for quite a while. Based on everything you know today where we want but yeah everything we know today gets what we bought the home to be every time we downside to get a smaller house gets dropped out. Yeah.
And do you have a good credit score. Yeah, my credit score is just shy 800 yeah, great. So yeah, here's the thing you mean if you could see the points to a point in the quarter, and you could just about get there.
I would imagine with today's rates in the credit score you have and you're planning to stay in this home for at least 5 to 7 years. You should be able to cover those expenses and they should be in the range of about 2%, so it will hundred 40,000 I wouldn't I wouldn't expect you to spend more than 3003 to 4000 at the most and if you are there, probably asking you to buy down the rate or the expenses are just too high.
But if you could keep it to around 2% and expenses and save at least a point on the interest rate and stay put for 5 to 7 years. You will be able to repay the expenses with the savings in interest and then once you do you'll enjoy that in a lower interest rate throughout the balance of the loan. Doing kind of fly in the ointment here is if you move quickly after you pay the expenses back and you don't enjoy the savings or if you lengthen the term so I be looking for a new 25. Even better, 20 year mortgage as opposed to resetting it at 30 years, you know, after five years of payments.
Does that make sense to you except that try to get you 20 years or 15. Even I thought that I can bump Dana… Big deal. But you think I should I should only pamper between three and $4000, but it seemed like everybody out there somewhere between five and fellow 10, which I know what they're charging like yeah I keep shop in the mean that's that's high and I really try to target 2% for your expenses, you know, perhaps 2 1/2%, but anything more than that your overpaying use bank rate.com to find some online lenders who have the best programs with the most aggressive terms in the low costs and shop around to you find something that that really makes some sense. So give that a look at can make you make a lot of sense.
If you do it the way I just described, and I think you'll be glad you did in the long run and we appreciate your call quickly to Brooksville Florida. We have just a minute or so left Erica can help you and I sure cannot got about 45 seconds until move quickly with that. What I can do for you today. You don't have any investment you're starting fresh. Yes, where do you and how much yet very good question here is where I would start. First of all, make sure you have an emergency fund, 3 to 6 months expenses even before that, I want to make sure you're giving systematically after that. I want to make sure all your consumer debt is paid off your starting with your credit cards and that your living on a balanced budget, then the first place I go.
Eric is if you have a 401(k) at work. Take advantage of that. Especially if there's matching if you're self-employed, which it sounds like you might be open a Roth IRA and I probably do it at betterment to Orwell France with the Schwab intelligent portfolios and then start start systematically investing in that raw using their algorithm with the Robo advisor just let that grow over time. Sure and steady add to it which is dollar cost averaging. As you go and trust the Lord for the outcome. We appreciate your call today, very, very much. That's good for us today for 20 lies live is a partnership between movie radio and moneywise media want to say thank you my team today. Amy Dan Rich and Robert say thank you for being here today will be back tomorrow to do it all over again if you didn't get through. Call us then look for to see