Joe and Big Al have been making retirement planning, investing, and tax reduction fun for years on the YMYW podcast. We’re celebrating 300 episodes with just the funny stuff: great email intros, some of our funniest Derails, a couple never-before-heard outtakes, hilarious moments from our interviews with Dr. Daniel Crosby and Professor Jamie Hopkins, and the infamous story of Will and his free gasoline.
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Show Notes
Welcome to the 300th episode of Your Money, Your Wealth® podcast. For years, Joe and “Big Al” have been making retirement planning, investing, tax reduction fun as they answer your questions about portfolio diversification, how much you can spend in retirement, creating that retirement income, collecting Social Security benefits, estate planning, of course, Roth IRA conversions and contributions, and much more. To celebrate, episode 300 is nothing but the funny stuff. You’ll hear great email intros, some of our funniest Derails, a couple never-before-heard outtakes, hilarious moments from our interviews with Dr. Daniel Crosby and Professor Jamie Hopkins, and the infamous story of Will and his free gasoline, all from the show our regulars know affectionately as YMYW. If you have a money question or comments to add to the hilarity, click the link in the description of today’s episode in your podcast app to go to the show notes and hit the “Ask Joe and Al On Air” banner.
- (01:04) Intros
- (14:13) Will and His Free Gas (listen to the full episode)
- (19:55) Investing When You Have to Pee with Dr. Daniel Crosby (listen to the full episode)
- (24:09) My Cousin Vinny and the Best Movies of 1992 with Prof. Jamie Hopkins (listen to the full episode)
- (30:46) East Islip and Forestall
- (35:14) Joe and the Safety Deposit Box
- (38:46) Audiobooks
Listen to today’s podcast episode on YouTube:
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Transcription:
Andi: Welcome to the 300th episode of the Your Money, Your Wealth® podcast. For years now, Joe and Big Al have been making retirement planning, investing, and tax reduction fun as they answer your questions about portfolio diversification, how much you can spend in retirement, creating that retirement income, collecting Social Security benefits, estate planning, and of course, Roth IRA conversions and contributions, and much more. So to celebrate, today’s episode number 300 is nothing but the funny stuff. You’ll hear great email intros, some of our funniest Derails, a couple never before heard outtakes, hilarious moments from our interviews with Dr. Daniel Crosby and Professor Jamie Hopkins, and the infamous story of Will and his free gasoline. All from the show that our regulars know affectionately as YMYW. If you have a money question or comments to add to the hilarity, click the link in the description of today’s episode in your podcast app to go to the show notes and hit the ask Joe and Al On Air banner. I’m producer Andi Last and here are your hosts of Your Money, Your Wealth®, Joe Anderson CFP and Big Al Clopine CPA.
Joe: Hey, welcome back to the program, show’s called Your Money, Your Wealth®. My name is Joe Anderson. I’m a certified financial pr, um…
Andi: Planner. You’re a planner.
Joe: Planner. That’s what I am.
Al: You’re going to say, what, pruner?
Joe: I don’t know. I don’t know. Today, I don’t know
Al: You like to prune bushes? You’re a financial pruner.
Joe: I might go there.
Al: I prune your expenses. And that way you end up having the lifestyle you want. Of course, you can’t spend anything because I’ve already pruned them.
Andi: Nice save, Al.
Joe: Yeah, I’m just going to be like that. Gonna be a green thumb, Al. Just gonna hang out in the garden.
When people talk about, let’s just say, a Roth conversion, for instance, they’ll be like, oh, yeah, I’ve heard that show before, they just talk about Roth, blah, blah, blah.
Al: Right, the Roth guys. We’ve been called that.
Joe: The Roth Brothers. Let’s do that. Changing this show up.
Al: The Roth Brothers.
Got Tom on the lam, he writes in, Al. Goes, “Dear Big Al, Andi, and Joe.” I don’t really care for last billing here. And I think most people would agree that I deserve front billing.
Al: You think?
Joe: I believe.
Al: I think occasionally I could get top billing.
Joe: Well, if he’s got a tax question.
Bruce from Joisey, emails us once again.
Al: He’s a regular.
Joe: Hello, Joe. And then he’s got a bunch of lines here because he put me really at top billing. And I appreciate that Bruce. …and Al and Andi.
Al: He gives you a lot of credit, Joe. And then Andi and I are kind of second billing, which is fine.
Joe: Very much so.
Andi: That’s what Joe thinks we deserve anyway.
Joe: Exactly. Sunil, he wrote in Alan, doesn’t give a location. So, this must be a first time listener.
Al: Could be.
Joe: Could be. We’d like to know where you’re at, Sunil. So he writes in, “Hello, YMYW team.” So, Sunil, if you’re going YMYW, you know you’re a listener, so where are you calling from?
Oh, and he just writes in, “a long time listener of your podcast, really enjoy the content and the hilarious answers that make me rolf.”
Andi: Roll on the floor laughing.
Joe: Oh, is that what that is? Oh.
Andi: ROFL.
Al: Rofl. Rofl. Rofl. I would have had no idea what that meant.
Joe: All right.
Andi: And realize that if you don’t tell us where you’re from, we’re either going to make it up, or I’m going to figure it out from your phone number and it might be wrong.
Joe: Andi spends most of her day just, like, searching our listeners out. Oh, like, Stuart from San Diego, I know exactly where he lives.
Andi: Ha! That’s not true.
Joe: Yep. John from Washington State, he goes, “Hey guys, enjoy the podcast while I walk my dog.” Alright. What kind of dog, I wonder, he’s got.
Andi: Man, first you want to know where people are, and then you want to know what their dog is.
Joe: Well, I want to know what the hell they’re doing while they’re listening to this. He’s walking his dog.
Al: Well, what’s the dog’s name?
Joe: Yeah. I mean, is it a big dog? Small? Is he going to a dog park? Or is it just like in the morning? Is it, you know, I don’t know. I just like to get in the, my, the listener’s mind.
Al: Yeah, got it.
Joe: They’re getting into our minds. I would like to get into theirs.
Al: Okay.
Joe: We got Jim from Cincinnati, Ohio. He writes in, “hello Joe, Big Al, and Andi, thank you for your podcast. I found you out on YouTube and started listening to your podcast, driving, to work and back.”
Andi: What kind of car?
Joe: What color is it? What’s the gas mileage.
Al: What year was it?
Joe: Alright, enough. So, if you do want us to do a couple podcasts a week, then you would have to write in, go to Your Money, Your Wealth®, jot it down, subscribe to our podcast, reach out to us, let us know. I’m guessing Marcus is the only one. And probably Andi would want to do it.
Andi: What makes you think that?
Joe: Because you’d like to find out where these people live and Google them. And then Google map them. I mean Marcus, trust me, I got a picture of your house right here.
Andi: He’s lying.
Joe: We’re taking a look, oh man.
Al: You need a new paint job.
Joe: Yeah, you got a couple of dogs in the backyard. Ooh, wait a minute. You got someone sneaking around that back shed. We really appreciate you guys hanging out with us over the years, listening, writing in, calling in. Jim from Oceanside. Right? That would call in every week when we were taking those live calls?
Al: Oh, in the early days? Yeah. Yep. Yep.
Joe: And the crazy guy from Coronado.
Al: Yeah.
Joe: John from Coronado.
Al: John. Yeah. I remember he always asked about gold and alternative investments.
Joe: Yeah, crazy stuff.
Al: And someone called us one time and said, knowing that the world is coming to an end, how should I invest next year? That was a live caller.
Andi: Wow, how did you answer that?
Joe: Ah, we hung up on ‘em. Yeah. And then in 2008, You know, things are not great in the markets.
Al: Right.
Joe: And then Al and I would, you know, try to keep it light and, you know, laugh a little bit and, and have some fun. Yeah. Oh, we’d get hate mail. This is not funny.
Al: This is not a funny time. You should not be making fun of this and laughing.
Joe: You should be ashamed of yourself for laughing at a joke. It’s like, oh my God. Relax. It’s not like, “oh, everyone’s going broke, ha, ha, ha,” you know? He was talking about his kid, like he was bathing his kid at 22 years old or something, so we laughed.
Andi: Wow, I feel like I just walked into a conversation and I don’t know all the details.
Al: You don’t need to know.
Joe: Mike and Sue, they write in from San Diego, “say Sue will make $70,000 gross this year. Mike will make $135,000 gross this year.” I wonder if Mike talks in third person all the time, he would try to be absolutely nuts.
Al: That is, I will tell, I’ll give you listers, that’s one of Joe’s pet peeves. If I ever call myself Big Al, you know, “Big Al feels this way,” Joe would just throw a cup of coffee at me.
Joe: Oh God, it’s just like, oh my God, we were just interviewing this guy today, and he’s like, “yeah, well.”
Al: Yeah, he did, he did use the third person.
Joe: He referred to himself in the third person. I was like, you just lost the job. That’s it.
Andi: Wow.
Al: I was thinking you were thinking that.
Joe: Yeah, Joe hates people talking in third person. Joe really gets annoyed. First of all, Rudy, we’d like to know where the hell you’re from, what you drive, and if you’re a cat or dog person. Because Big Al will answer it if you’re a cat person. I will not.
Al: Now I’m a cat person?
Joe: Yeah, you’re-
Al: I gotta set the record straight. You keep talking about my big wallet and now on our podcast survey everyone thinks I got loads of money.
Joe: Well, you do!
Al: And the only reason I don’t refute that is, is I’ve learned by refuting something it makes it ten times worse and you keep bringing it up.
Andi: Hey, you’re talking to the stalker here. I get called the stalker all the time, yeah, and for that exact same reason.
Al: Yeah, so you just let it go.
Joe: True statements. Both are very true statements.
Andi: And what’s the true statement about you, Joe?
Joe: What? That I am, just a fun, go lucky guy. Well, going back to your big wallet Al.
Al: Yeah?
Joe: I don’t know how many years ago we were doing that big tax workshop and then we were doing trivia to give away books or something like that, right? And then I, then I asked the audience, I said, you know, “Hey, why do we call Big Al, Big Al,” something like that. Right? And then someone in the audience yells, you know, “I don’t know, ask his wife!” And the whole place erupts with laughter.
Al: Right.
Joe: And then, so it was funny, you know, the guy got a book. And so the next year, so Al opens the thing up, like he’s telling his own joke, and he can’t give that punchline without sounding like a complete pervert.
Al: Yeah, and I learned that. Thank you for reminding me again of one of my failures on stage.
Joe: So it was like, he said, “hey, why do you call me Big Al? Oh, ask my wife.”
Al: Ask my wife. I remember like three or four women were horrified. I heard gasps.
Joe: Oh my God, it was crickets. It was crickets.
Al: That wasn’t a good idea. So then I said, “Joe, you want to take over?”
Joe: People wrote in their evaluation, “I’m appalled.”
Al: So see my attempt at stand-up. I know I’m not a standup comedian, so I just let that go.
Joe: Yeah, there, there, there you have it. All right. We got Chris from Austin, Texas. “Greetings to you, Joe, Al, and Andi. Even though I’m very tech and social savvy,” You think he’s like savvy when he goes to parties?
Al: I think he’s just like you, it’s like, “Hey baby.”
Joe: So he’s down, you know, at, a little place where they have all the food, food trucks.
Al: Oh, never been to Austin, so I don’t know.
Joe: Oh yeah, he’s going the food trucks.
Al: Yeah. Can you imagine?
Joe: He’s savvy socially.
Al: He goes into a bar, he goes, “hey baby. Seen the new Apple computer?”
Joe: He’s tech savvy, and he’s social savvy.
Al: Yeah, right.
Joe: He’s got it all dialed in. He’s a latecomer to the world of finance though. That was out here so at 63. I’m not sure what he’s writing.
Andi: “I’m a late comer to the world of financial info that was out here, so at 63..”
Joe: That was out here?
Andi: Yeah.
Joe: Out here in Austin, Texas?
Andi: No, out in the world. Like podcasts.
Joe: Oh. Out here in the world of- so he is listening to a podcast as he’s typing this.
Al: He’s talking to a podcast.
Joe: So Chris is down, he is at the food trucks, having a couple cocktails, being very socially savvy.
Al: He’s got all kinds of women sitting at his table.
Andi: I have a feeling by social savvy he means like Facebook, Twitter, Instagram.
Al: I think it’s more fun to think of it-
Joe: I know, I think he’s having some cocktail parties. He’s being very socially savvy.
Al: That’s how I take it.
Joe: Jason writes back in from good ol’ St. Paul, Minnesota. He goes, “hey, thanks for responding to my question on show 295. I was running an errand when I heard the podcast. Once I got home, my wife and I had dinner, playing the podcast on a speakerphone.” Wouldn’t you love to have dinner over at Jason’s house?
Andi: Listening to us.
Joe: I mean, Jesus, Louis-o. Oh my God. All right, honey, it’s dinner time. Can you get the speaker out, please? I will set the table. I got the china.
Al: Apparently they had nothing else to talk about that night. They already talked through everything.
Joe: God, they bust out the china. Oh, okay. Now, let’s get that Bose speakerphone
Al: I wonder if they put us on like a really nice platter. Maybe in the center of the table instead of a candle or something.
Joe: Oh God.
Al: He’s trying to get his wife more into it. That’s why they listen to it at dinner. Oh, honey, I got another one for you tonight.
Joe: Yeah, I want to spice up our relationship. I got something for you. Oh, really? What do you want me to wear? No, no, it’s nothing about wearing. No, put that little costume away. We’re going to listen to Your Money, Your Wealth® at dinner.
Al: We got to concentrate.
Al: Just imagine when we hit FI, we can do all that stuff then.
Joe: “Oh, are we going to role play?” “Yes, you’re going to be Big Al and I’m going to be Joe.”
Al: No, I think she’ll be Andi and he’ll be both of us. He’ll be the straight guy and the other guy. He’ll be talking on both sides of his mouth.
Joe: Oh my god. Alright, so this is going to be Jeremy’s advice, right? So, we’ll role play this out.
Andi: You’re big on roleplaying today, Joe.
Joe: I am. I’m a big role player. Let’s say my name is, Kenneth.
Andi: Wow, this is TMI.
Joe: Right, and I’m going to go to Jeremy because I’m a supply chain manager.
Al: You think people binge us?
Joe: I’m sure there’s been-
Andi: They’ve told us they do.
Joe/Al: There’s like one or two.
Andi: They find out you guys are on YouTube and they’re all over it.
Al: Do you think we’re binge worthy?
Joe: No. Not even, not even, not even a smidge. I can’t even listen to 30 seconds of this garbage.
Al: I can’t even imagine. I would fall asleep after 15 minutes.
Joe: Fall asleep? I’d vomit.
Andi: Just don’t do both, please.
Joe: Al would be asleep and I’d be puking on him.
Al: I would be asleep and you’d be vomiting. Yeah, alright. Let’s not watch this together. That’s not a good combo.
Andi: The Your Money, Your Wealth® YouTube channel is home to both this podcast and the YMYW TV show and you can subscribe right from the podcast show notes. And let me tell you, the show notes are a magical place. You can also sign up for a two-day retirement class, or a free retirement workshop. You can find our latest webinar and blog post about the election and your finances. You can watch the latest episode of YMYW TV, which is called Stress Test Your Retirement Plan. And appropriately, you can also sign up for a retirement plan stress test for free. And of course, you can also ask your money questions or send us your comments. Click the link in the description of today’s episode in your podcast app to get to those magical podcast show notes. Now, let’s get back to the funny stuff. These next two are my personal favorite moments from YMYW.
Joe: Let’s go to Will, from Philadelphia, PA. “Been listening to your podcast for a few weeks after my uncle recommended you.” All right, well, thanks uncle.
Al:
Joe: Yeah. “I started listening to the 2016 episodes but changed it to 2019 and now I’m in April.” So we started at 2016. He goes, this sucks.
Al: I’m way behind. I’ve got old tax law. This makes no sense.
Joe: I gotta, I would like to thank my mom for being very thrifty and teaching me the value of money. I’m mostly a saver and due to my unfortunate early adult dabbling into the stock market, I’ve continued since. I’ve worked full time. Overtime, part time, he’s worked all sorts of times.
Al: And he worked years ago.
Joe: And even though I have an okay computer consulting business, and my wife works two part times, I’ve become complacent.
Al: I don’t think you’re complacent at all.
Joe: He’s lazy. Relaxed.
Al: He’s, yeah.
Joe: That’s what he says.
Al: Well, he works full time, overtime, part time. Oh, I guess he did that years ago.
Andi: Years ago.
Joe: I’m only 41.
Al: Now he’s lazy.
Joe: He’s 41!
Al: Yeah,
Joe: I was working, like I mean, I thought for sure this guy’s like 60 “I’m so tired.”
Al: He’s younger than you.
Joe: “Cuz I’m just jamming working full time part time.” “I’m tired My wife’s 38 and we have a 12 year old and we try not to live beyond our means. I learned to fix what I can around the house, cars. He gets free gas. Okay.
Al: I wonder how.
Joe: I have no idea. Steals it.
Al: Siphons it from his neighbor.
Andi: See this is why I leave it all in because this is so funny.
Joe: You see Will just sucking on some tube.
Al: He’s gotta go to the hospital every now and again when he swallows too much.
Joe: That’s why he’s working part time, because the guy’s sick, because he’s full of gasoline. This guy on medical disability.
Al: He’s got his 12 year old sucking up the gas, because he can’t do it.
Joe: Oh, come here, Junior! No, no, Daddy!
Al: This is Buick, it’s got a big, we get a lot of gas outta this one.
Joe: Daddy, I don’t want to have that special juice! Shut up!
Al: It doesn’t taste good.
Joe: Come on, suck on that thing!
Al: Tastes just like mother’s milk.
Joe: Oh my god. Alright. Somehow. He happened to find the Dave Ramsey show.
Al: Oh, there you go.
Joe: That’s Big Al’s best friend. He’s entertaining. but, he abhors credit cards. He doesn’t like credit cards. He does not like them at all. And it’s offers, we don’t have any outstanding balances. While, he likes the perks. But it’s not making them rich. Yep. the main thing I got from him is, the urgency. Just the reigniting.
Al: Yeah, reigniting. To pay off all that debt. Just to pay off the debt. Debt. Bad.
Joe: Sweet. So he’s crunching numbers and he could save anywhere from $50,000 to $80,000 in interest. I got denied from refinancing despite excellent credit because of self-employment. Well, yeah.
Al: Because he hasn’t worked for five years, he’s relaxed and lazy, that’s what it says. They go, here, don’t look at my last three years returns, look at this ten years ago, look how good I was.
Joe: When I was grinding.
Al: That’s right, I got sick, siphoning gasoline.
Joe: Sucking gas. Oh God, “I read arguments that paying off the house with now money will cost more than next year’s money. Inflation, when you can invest the now money and watch it grow.” He just needs to get over his fear.
Al: He does.
Joe: Look yourself in the mirror, Will.
Al: now But it’s hard right because-
Joe: You’re 40!
Al: I know, but-
Joe: You’re not 65 and need the money next year.
Al: But he’s also thinking, 10 year bull run, I missed it. Now I’m gonna put all in, I’m gonna put the money in and the market’s gonna crash.
Joe: Okay, 20 years from now, do you think the market is going to be higher or lower than it is today?
Al: Yeah, that is the right way to look at it. I’m just saying it’s awful hard for a person that’s been burned and has invested in cash for probably 10 plus years, maybe, maybe 15. I don’t know.
Joe: But okay, how much money do you think a 40 year old actually has?
Andi: Especially if he’s been lazy and complacent.
Al: He used to work full time, overtime.
Joe: It’s not millions!
Al: and part time. He used to have all kinds of jobs. So he’s got all kinds of money. I don’t know. I have no idea.
Joe: Right, but I’m saying, okay, so let’s say he got burned in the stock market in his 30s. I mean, so he lost a couple of bucks.
Al: Yeah.
Joe: You gotta get over it. And he never made any money either because he didn’t have any money to make.
Al: So I’ll just give you a little historical frame of reference. So if you would have invested in the Dow Jones in the height of the market.
Joe: Hypothetically.
Al: Yeah. Hypothetically, it was roughly in round numbers, twelve thousand points. And now it’s what? Twenty seven?
Joe: Yeah, that’s higher.
Al: So here’s the point. You could have invested at the height of the market in 2007, I guess, late 2007, somewhere around there, the height of the market and dropped and weathered that whole thing and have a portfolio that’s more than double instead of having money in cash. All I’m saying is you can invest at the absolute worst times and still do rather well just because you do what Joe just said. If the market is going to be higher in 20 years than it is now, the answer is probably yes. And so, you go with those odds.
Joe: Alright, Will, hopefully that helps. Good luck with everything. Thanks for, the question. Thanks for the uncle, for referring. And I’m sorry 2016 sucked. Dr.
Daniel Crosby, how are you, my friend?
Daniel Crosby: I’m laughing because you called me a doctor and no one ever does, so, thank you. Thank you for respecting me in ways my parents still don’t.
Al: They don’t call you a doctor?
Daniel Crosby: No.
Joe: You know, the last time you were on, we were talking about the Laws of Wealth, which was a phenomenal, oh, how many books now? Is this like your fifth book?
Daniel Crosby: It is, it is my fifth book, but one of them is a children’s book. Are we gonna count a children’s?
Joe: Yes, we are. And that’s one of my favorite books.
Al: That’s the one that’s one we understand.
Joe: Yeah. You’re not as smart as you think you are or, or, or as what? It’s something kind of with a little.
Daniel Crosby: No, it’s more, it’s more depressing.
Joe: Yes.
Daniel Crosby: So I have a book called, You’re Not That Great, and then I, that’s for adults. Then I have a children’s book called Everyone You Love Will Die.
Joe: Yes.
Andi: That is amazing. Wow.
Joe: Yes, every, well, let’s talk about Everyone That You Love Will Die. Let’s just dive in right there. So, okay, the last book, I don’t know how much more behavioral finance can you fit in another book?
Daniel Crosby: I wanted to be done with it frankly, so now I am. I say in the first line of the book that you know the aim of this book is to write the most comprehensive guide to investor psychology that’s around. And one of my reviewers on Amazon doesn’t think I did that, but I think I did, I’m super proud of it. And I can say, I will say here for the first time, I will never, I will never write another book about investor psychology, because I think, you know, a lot of truths about human behavior just don’t change. Like, so I think there’s a lot of great stuff in this book and, you know, now I’m going to write more depressing kids’ books.
Al: Perfect.
Joe: Why are we so bad with money?
Andi: You know, we really should mention this book is called The Behavioral Investor. We haven’t gotten that in yet.
Joe: Well, don’t worry about it, Andi. Can we turn her mic off?
Andi: Sure. I can do that.
Joe: Give her a leash. All she does is now she wants to do is run the show.
Al: Yeah. It’s impossible. I mean, it’s already on. We can’t put it back in Pandora’s box.
Joe: I know. It’s out. Sorry about that, doctor. We have some behavioral issues here in this podcast.
Daniel Crosby: Sorry about it? She’s helping me. She’s helping me slang books. That was wonderful.
Al: See, he’s for her, he’s on her side.
Daniel Crosby: That’s right. So yeah, The Behavioral Investor just named the best investment book of the year by the Axiom business book awards. So take that three star Amazon reviewer. I’m not, I’m not mad about it.
Joe: Even though with all this work that’s being done, what have you seen? Have you seen any improvements in the average retail investor on how they’re dealing with their money?
Daniel Crosby: Are you saying that my life’s work has been a waste?
Joe: Pretty much.
Al: When you wrote your latest book and kind of putting it all together, were there any surprises or studies or things that you thought, “wow, this seems contrary to what I thought.”
Joe: He’s a doctor, Alan. Nothing surprises him.
Daniel Crosby: No, here’s the worst part about becoming a doctor is you feel stupider on the day you graduate, because you just learned all the shades of gray like you go in “Yeah, I got this,” you know, and then you come out you’re like, oh my gosh, like I know nothing. So, Here’s one funny study. I don’t know how consequential it is, but I thought it was funny. You know in the chapters about the body. I learned that people who need to pee have exceptional investment performance and so-
Al: We do a much better show when we need to pee
Daniel Crosby: I’m sitting here with a Big Gulp, just crushing it, frankly, so what they found was something called inhibitory spillover. So basically the same restraint that you’re using to hold it, extends, extends to you being able to control your temper and hold it as it were in the investment market. So yeah, they did, did all these studies on, you know, people in different physiological states, people who are hungry, were horrible investors. People who needed to pee were excellent investors. So, Stay, stay thirsty.
Al: In volatile markets, go get a Big Gulp and have one filled all the time.
Daniel Crosby: Hold it until you turn purple.
Joe: The stock price does not go down the same as the dividend. Yes, it does. No, it doesn’t. How come my stock goes up then? Because it would have gotten more without the dividend. Oh, well, no, I don’t think that.
Al: Not my stock.
Joe: No one’s told me that. My stock does something completely different. Are you sure? So you’re telling me that grits- What’s that line? Come on. My Cousin Vinny.
Andi: Grits ain’t groceries?
Joe: No. So when the guy goes, “I guess I’m just a fast cook.” You’ve never seen My Cousin Vinny.
Al: If I did, yeah, I think I did.
Joe: Andi, never? No. You’ve never seen My Cousin Vinny.
Andi: I have, but it’s been a long time.
Al: I don’t remember lines from 25 years ago.
Andi: Me either. Unless it’s Monty Python.
Joe: I don’t think it’s been 25 years since My Cousin Vinny.
Al: 20. It’s been a while. Right? So he, so he’s interviewing all these people.
Al: Right.
Joe: Right? Joe Pesci? Yes. And then so, he’s, well, first of all, how this whole thing starts is that they’re at the diner.
Andi: 1992! 1992,
Joe: that was a good year.
Al: So 20, 27 years ago. Okay, 27
Joe: years ago. Anyway, so they’re sitting at the diner. And then with Marissa Torme and Joey Pesci, right? What?
Andi: Tomei.
Joe: Torme? Torme. Torme.
Andi: Tomei. There’s no R.
Joe: Okay. Yes. So, they’re sitting there and then the menu. It was breakfast, lunch, or dinner. Right. That’s all it said. So he’s like, well, I’m thinking about breakfast. What about you? So she looks and, yeah, I think that looks pretty good. And the breakfast was grits, so he starts talking, how long does it take to make grits and stuff like that?
Well, any good southerner knows how to make grits. Oh, anyway. Watch the movie, it’s a, it’s phenomenal. How did that tie into your point? I
Al: don’t know. I totally forgot. I’m really trying to stretch my mind here. Oh no,
Joe: I’m
Al: talking
Joe: about dividends. And
Al: you thought
Joe: of grits? Yes, because he’s proving this gentleman is lying, or that he’s just ignorant.
Got it. And he’s like, hey, well, what kind of grits do you make? Okay. Well, any good southerner knows how to make good grits, so it takes him a while to make the grits. Got it. But the time frame of him and seeing the people shooting the clerk. I’m
Al: so glad you went down this path, because now I’m dead. All the better for it.
Okay. I’m confused. Not really.
Joe: just watch My Cousin Vinny, folks. Please. The fans of the show. I mean, the fans of the movie. We don’t have any fans of the show.
Al: Now, did you see it in 92? He said he
Andi: was in 4th grade in 96, so
Al: I’m So I think you, so you, you just, you go home and watch Netflix, old movies. I don’t have Netflix.
Okay, then whatever you do.
Joe: I just enjoy the movie.
Al: I
Joe: probably
Al: haven’t seen that movie in 20 years. He watches movies that were, that were, came out 25 years ago, like last night. He goes, you can’t remember that line? This is a classic. You saw it last night, didn’t you? I did
Joe: not see the movie last night. Or else I would have been a lot tighter on my lines.
I think that’s as tight as you get.
Andi: Now I know what that lady on Facebook was talking about, about talking in circles.
Joe: I, I, I have no idea what she’s talking about. We both do that. We were talking about dipping and paying stocks, and then I wanted to talk about Joe Pesci for just a second. Actually, and I
Al: remember we, we read her comment that we talk in circles, and we agreed.
Totally. And if you don’t like that, you can try another station, try another show. Because that’s, that’s what
Joe: we do. Look at Big Al, getting all feisty. we’re talking about The best movies of 1992.
Al: Trying to think Jurassic Park came out around there, give or take, remember that because Rob was a little toddler, maybe 93.
And I remember telling the babysitter, cause we had it on VHS. I remember telling the babysitter, please don’t show this movie. He’s not ready, but we got home. I love the dinosaurs. Daddy, what year?
Andi: I don’t have Jurassic Park, but my cousin Vinny is actually on the list of the top movies of 1992. Yeah, I
Joe: think it might have been 93.
What else you got? What’s the list?
Andi: Glengarry Glen Ross.
Joe: Awesome movie, was one of the best sales movie in the history of all sales movies. Reservoir Dogs. Reservoir Dogs, another phenomenal movie. Unforgiven. That’s with Clint Eastwood. Yes, when he was, Wait, Anna and
Al: I watched that, she made me leave, it was so violent.
Reservoir Dogs.
Joe: Wow. It wasn’t that violent until the end.
Al: Well, we made it to the end. Curly Bill. See? Just
Joe: quiz me. Steel trap? I am a steel trap. Next. Aladdin. Oh. Who doesn’t love
Al: Aladdin? Jasmine. Yes. Aladdin.
Joe: Aladdin. He’s a good, he’s a good lad. Yeah. Yeah. That was, Robin Williams played the old genie there.
That’s right. R. I. P. Yeah, very good. Robin. Right. Do you know who was the voice of Jasmine? No. No, I don’t. Do you? Yeah. Beyonce. She was like two? Fact check. No, I have no idea. We got Jamie Hopkins, Esquire. He’s a CERTIFIED FINANCIAL PLANNER™. Have you ever seen the movie My Cousin Vinny? Oh boy, not again.
Jamie Hopkins: I have seen it many times.
I was a lawyer before I joined the financial service world, so I’ve seen it.
Joe: Is that one of the best movies of all time? Mm hmm.
Jamie Hopkins: It’s a good one. I’m a fan of it. I don’t know if I list it as the best. I’m a big Braveheart fan. Shawshank Redemption. Those ones, I still love. Well,
Al: see, Jamie, so Joe watches these movies, like, the night before, and then he says, You remember this movie that I watched, like, 25 years ago?
I
Joe: don’t think that is I just have a very good memory of very good movies. And
Al: then he starts quoting lines out of this thing, like I’m supposed to remember.
Jamie Hopkins: Yeah, well, I just remember, you know, that it’s the, it’s the car and right how it goes, the tracks that go over the curb and the, the old, the car up until that model didn’t have that feature where it would have kept it straight.
So, you know, that’s, that’s the breaking news in that one. Yeah, it’s the dual, the dual axle. Spoiler, spoiler alert 25 years later. That’s right, that’s right. You didn’t
Joe: see it yet. That’s on you. It’s too late.
Andi: And to think those were just excerpts, you can hear the full interviews with both Daniel Crosby and Jamie Hopkins, along with will the gas siphoners full question and answer in the podcast show notes at yourmoneyyourwealth.com. Click the link in the description of today’s episode in your podcast app to get there. And if you’re enjoying this episode as much as we enjoyed making it. Do us a favor, help us grow the show, share this episode with your friends and on social media and tell them how Joe and Big Al have been making retirement planning, investing and tax reduction fun.
We’ll get back to all of your money questions in next week’s episode, so click ask Joe and Al on air in the podcast show notes to send them in now. We love getting your comments too, like this one from Saul who wrote in and said, I love your show and here’s a limerick for you. A man in Iceland forestalled.
Your Money, Your Wealth®, then he called. He asked, is it right to on my money sit tight? And they said your return will be mauled. Keep listening to see where that came from.
Joe: All right. We got, Patrick and Jackie from East Islip, Islip, I guess.
Andi: I think
Joe: so. For sure. I don’t know how else
Al: you could say
Joe: that.
East Islip. Islip, Islip, New York. Dear Joe, Al, and Andi, Yo! Exclamation point. What up? What up, P? I drive a black Honda Civic. My wife drives a white Suburban Outback. Subaru Outback. Subaru. Oh, Subaru. I just envisioned her in a Suburban, like a badass chick, and then she’s driving this Honda Civic, and I was like Judi from San Diego writes in, she’s like, you were right, it’s pronounced, I-slip.
Andi: She was saying that to me.
Joe: Named from the canals of Long Island that are shaped like a
Andi: capital I,
Joe: with a bar across the top. I grew up there. I slip. I got it. What did you say?
Andi: Islip.
Joe: Islip?
Andi: Yep.
Joe: Got it. Hello, I’m a big fan. This is from Phil. Writes in, hello, I’m a big fan of the YNYW podcast. Your host botched the pronunciation of Islip.
Al: Wait a minute. Only one host botched it. No, I didn’t say anything. Please
Joe: tell Joe in big owl, big awl, that it’s pronounced Islip. East Islip. Thanks. Keep up the great shell. So is it east? It’s East. Islip, Islip, yes. East. I slip. I slip. I slip. There you go.
Andi: Or I slip.
Al: Slip. Could be I slip or I slip,
Andi: but it’s not Islip.
Al: One, one, Judi said it’s, I slip and Phil said it’s. Ice lip. So we have a difference in opinion there too.
Joe: Yeah.
Al: I don’t know. Just no one, no one knows what to say on this one.
Andi: Well, Judi says she’s from there, so I trust her.
Al: Got it.
Joe: Got it. All right. Well, thank you very much for, botched. Yeah, Joe and Big Al.
Yeah, like you botched your email, Phil.
Oh, God. Oh, boy. Larry writes in somewhere near Columbus, Ohio. Hey, Andi, Big Al and Joe. God, that’s annoying. Love, love, love the show. Yours is one of the few podcasts in my rotation that I faithfully listen to every week. You are the car talk of personal finance, extremely informative while being incredibly entertaining. My question is. given that we can, given that we can, or stall or stall or stall, hold off on. For stall and seven years
Andi: forestall. That’s the first word time you’ve ever heard that word. Isn’t it Joe?
Joe: guaranteed. Guaranteed. I thought it was probably,
Al: that was a word probably during the, probably like 1776.
And then that era, I’m guessing.
Joe: I can’t, Larry, are you like a professor of, given that we can forestall, drawing, I’m going to use that word at the bar on Friday night, I’m going to forestall having my fifth beer.
Andi: But you have to say it like you know what it means, it’s forestall, not forestall.
Joe: Did I ever tell you my story about a safety deposit box? No, I haven’t heard it. So I was, the executor for my grandmother’s, estate. Okay. Right. Okay. And so I go to Tucson, Arizona. And, my grandma wasn’t, she died at like 95. Right. Right? Okay. And so my cousin lives in Tucson. And so she’s like, Joe, grandma’s not doing all that great, maybe you should come and talk to her, say what’s up, you know.
And I said, sure. So I go to grandma’s house, she’s laying in bed, she’s got a keystone light with a straw. And she’s smoking a Saratoga cigarette. I like your grandma. She went out how she wanted to. Right? 95! I was like, Grandma! Solid! And I was wearing like, like a Kingo hat, you know? Like, you know what I’m talking about.
I have no idea what you’re talking about. You know what a Kingo hat is? I think so, yeah. She’s gonna look it up. Whatever. And it was a hat like my dad used to wear. And so I walked into the bedroom and I said, Hey, and I think she thought it was her son. And my dad died like four, four years previous.
Right. And I think I put her into shock. But anyway, she passed, a few days later. Yeah. Okay. We got the head. Yeah. I have seen you wear that. Okay. Yeah. And so, so we’re settling the estate. It was, I thought it was going to be pretty straightforward. Right. I’m a CERTIFIED FINANCIAL PLANNER™. Right. I’m president of Pure Financial Advisors.
Sure. Okay. I have a resume. Is that what you told them? Yes, my CV is pretty amazing. And so I look at it, it’s like, grandma, no big deal. So the house is in the trust, we got some other stuff, she’s got a whole bunch of like collectible trinkets, and so I knew what, who those go to, and everything else. Bank accounts.
Done. And then, there was nothing in the trust that said she had a bank deposit, box, right? Okay,
Al: right. Safety deposit box. Safety, yeah,
Joe: whatever. Yeah. And so, I’m like, and then my, my cousin was, she’s like, yeah, well, this key is for the safety deposit box. I’m like, okay, well, let’s go to the bank and let’s, let’s figure it out.
And so I bring the trust documents and everything else, and she’s like, well, no, the safety deposit box isn’t in the name of the trust. It’s not in there. How are you going to do it? So
Al: Grandma has to do
Joe: it. Yeah, and I was like, Grandma just died.
Al: Yeah.
Joe: What do I do? And then so, I guess Arizona Law, it was kind of a smaller bank, really sweet girl that was working there and I was like, listen, you know, I don’t, I don’t really know what’s in there.
She’s like, do you think it’s less than 10, 000? I go, absolutely. So I go get the bank deposit box, and it’s like 300, 000 of GE stock. Oh, you’re kidding. So I just put it in a bag. Took it out? Yeah. It got the hell out of there, because probably when I went to probate and everything else. Right. It would have.
Yeah. So then, So you broke the law. I was
Andi: just about to say, should we be talking about this later? Well,
Joe: I don’t know. Live out loud in the air. But the stock certificates were in the name of the trust. Yeah. So that was, I was like, Oh my God, what would I do now? If the stock, because they’re the actual stock certificate, she’s 95.
You’ve never heard of a banker, you know, a broker before, right? Okay. So you’re okay then if it’s in the name of the trust. Yeah, the certificates were in the name of the trust, but there was 300, 000 of stuff in the safety deposit box, and she’s like, well, if it’s under 10, 000, I think I can probably let you.
And I was like, I don’t know. It’s probably, you know, like my photos, some artwork that I did when I was in kindergarten. Right. It’s a letter that I wrote. Yeah. I love you,
Al: Grandma. Remember when we used to have one of our associates listen to books on tape? Double speed. Oh, like ten times. It’s like. He goes, yeah, I finished this ten thousand page novel in four minutes.
It’s like. It’s like. Wow. It’s like, and what he’d tell us, his hair was all up in But I guarantee you he didn’t comprehend anything. I know, I’m aware of that. He said, I read three books this weekend. You know who I’m talking about?
Joe: Yes, I do. I do know who you’re talking about. I think he just wanted to bring in his cocktail party.
I think so. Yeah, I’m reading about six books this week. Six books a week? That’s One
Al: a day on three in the week and three each weekend. He does them in his sleep, too. He goes like five feet. These
Andi: are my favorite segments. When you guys just fall apart.
Al: It’s subliminal. Oh, I mean, we used to hear those stories.
And then we’d ask him about the book. Well That was a couple books ago. A lot too big a page. I just sort of forget that one.
Oh, oh god.
Joe: Oh god. Oh god. We were looking at each other and we were like, oh god. I tried, on his
Al: tip I tried one. I didn’t understand a word. I tried, I tried double. Well I tried double speed and that was nuts. So I tried 150, I still couldn’t really understand.
Andi: There you have it. 300 episodes of learning and Laughing on YMYW. We look forward to, I don’t know, 3,000 more. Clearly, we cannot make this happen without you, so keep sending in those questions and comments. Click the link in the description of today’s episode in your podcast app to go to the show notes and click Ask Joe and Al on Air. We’ll see you next week for more fun and more money questions.
Your Money, Your Wealth® is presented by Pure Financial Advisors. Click the Get an Assessment button in the podcast show notes at yourmoneyyourwealth.com or call (888) 994-6257 for your free financial assessment. Pure Financial Advisors is a registered investment advisor. This show does not intend to provide personalized investment advice through this broadcast and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the broadcast in the process of making a full and informed investment decision.
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Your Money, Your Wealth® is presented by Pure Financial Advisors. Sign up for your free financial assessment.
Pure Financial Advisors is a registered investment advisor. This show does not intend to provide personalized investment advice through this broadcast and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the broadcast in the process of making a full and informed investment decision.
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