Loading...

on the bank and a checking account is, and don't put a lot on your credit cards. This isn't, and it doesn't apply to everybody because not everybody has money that they're not going to be using in the next three years. And that should be invested, you know, they should contact an investment professional to handle that for them. And if that isn't the case, then if you can get a 401k, that's one of the best ways. Disadvantage of that is you can't touch it forever, you know, especially if you're really young. You're never going to reach that age. So that can be disappointing. But if you don't have a lot of self-discipline, 401k is very good. Now, some of these individual accounts you can open up in brokerages are good. They're called direct accounts. If you have self-discipline, not to touch it for, you know, five years, they can be very rewarding. If you take it out of here, you've got to consider the tax implications for when you do use it. And that's like a long term. If you get a drip account, you've got to go into that thinking that I'm not touching that for at least 10 years. And that can go towards, say, a down payment on a house. Now, for the short term, you know, this Christmas Club, you don't hear too much about them anymore. Unless you're responsible enough, you know, you would do that. You have to be responsible to know that it's a necessity, like, you know, how to not abuse your credit card or have a checking account and pay bills. Back to you, Dan. Your Christmas Club is a great idea. Having a mortgage is a great idea. I remember my mother used to say, it doesn't matter. You know, I'm very analytical. And I'd do my deals and stuff, and my mom said, like, don't do that. You know, because as a kid, get a mortgage, and that gives you the obligation to pay monthly. Where that money, if you're a kid, would probably be spent in a car or something else that's worthless, or vacation on your girlfriend. It's a good discipline. It doesn't matter what the issue. So there's a big part of a venture that's just discipline. And I remember the Christmas Club. She used to do Christmas Club, too, which is a great thing, you know? But yeah, I guess it's a discipline aspect. You know, I tell my kids, you know, you got to think. I don't have, I drive in the US a 35-year-old car. In the States, in Colombia, my daughter drives a 17-year-old car, a Hyundai. It used to be called an XL here in the US in the late 80s. We have a van. We have a Kia van, you know? And I remember my, you know, so it's a long story. It's getting a little too personal. But we don't waste money on cars. You know, and I tell them, you know, the situation about cars. And if you take that money, it's not a good asset to have, you know? And especially when you're buying expensive new cars. And I just go on and on. I can go on and on with this. But even leasing for us, and we have a business, leasing is not even a good idea for us with the leasing part. And I did the math. I did it with my tax people. And it's not a great idea either, you know? Not for my, not for what, you know, my business is. It has a tax write-off. So I don't know. I think I try to tell my kids, you know, the money that you spend on these cars, you should be investing it, you know? And that's it. And I told my daughter once, I'm going to be kidding. You know, I told my daughter once, Ron, you know? I'd be more happy that your first boyfriend or your boyfriend had like a truck called, you know, Sam's Plumbing, you know, and picked you up on that truck to go on your first date than they pick you up on a BMW, you know, and a BMW or a Maserati or whatever. You know, the first guy I think would be smart, and the second guy I think would be an imbecile, you know? And so, you know, but that's the situation. So her boyfriend's driving a 1991 car, and he was just given a 2001 car. So their family is not the same mindset as we are, you know? But yeah, you see a lot of foolish spending, Ron. You know, back to you.