5 Years or more... Now what?
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
19 min
3 speakers
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen, and share this episode with someone who might need to hear it. Now, enjoy the show.
Hey, welcome in to another episode of DIY Money.
DIY Money.
What's shaking in your world, eh, Howard?
What? You have a puppy and a house and chaos?
Yeah, but they've heard about this a million times. You're going to ask me? Yes, I'm going to ask you, of course.
Not a lot. Summer is kind of winding up, question mark. Winding up?
Winding down?
Winding down. Man, that's such a bummer. I don't want to say that. I'm going to the lake this weekend, though, which I'm very excited about. I have not had a true... My family is not a lake family. You've met my dad, Gary. He's not a boat guy, okay? We're not a boat family. And I never really had a lot of friends. We live... Lexington is close to Harrington Lake, but the lake culture here is not. Let me ask this.
I'm totally going off a tangent, but you said that about your dad. Is your dad a baseball guy?
No.
No? Okay, never mind.
He watches UK. He's not a sports guy.
Okay. I thought he'd go to a baseball game and eat peanuts.
He's a peanuts guy. That's for sure.
Fair.
But I don't know if he's a baseball guy.
Okay. All right.
Fair enough. Anyway, so I'm really looking forward to it. But I'm like, I don't think I understand what we're even going to do. Like, I've never had a true lake weekend. What? I'm serious.
Oh, I love the lake.
It's fantastic. Like, I've gone to the lake for a day. And you go on the boat.
Are you doing, like, a houseboat? Or are you doing, like, just staying at a cabin?
We're staying at a cabin. I think we have kayaks. I don't think we have a boat. Nice. So it's going to be fun. I've done lake trips, but I haven't done a lake weekend.
Well, now you're in.
And we're doing a shrimp boil, which I'm kind of fired up. Nice. Yeah. Fired up about that.
Kind of like a crawfish boil. Yep. Yep.
Very nice. That sounds fun. And I hope to be able to sleep in a bed. Will you sleep in a bed? Yeah. Holy cow.
It's going to be bougie. Yeah. This is like high living for you.
I know. And I'm going to sleep and take a nap. And I think there's a hot tub. So come Monday, I'm going to be a whole different person. Wow. Well rested. Laked. Probably you won't even recognize me. I'm going to be so tan. That's wishful thinking. Now I'll be burnt for sure. I'm excited and I feel relaxed and I'm excited. I'm ready to party with the best of them.
Well, okay. Allie's going to have a wonderful weekend. She's going to get laked, I guess.
Is that what they say?
That's what you said. Let's get to our sponsors, Jewel Financial, J-O-U-L-E, financial.com. That's our day jobs. We also have our other sponsors, so we'll take a quick pause for them. We need questions, so send those questions in, podcastatdiymoney.org. That's podcastatdiymoney.org. If we use it on the show, you get a $25 Amazon gift card. We're doing a lot more on the social media channels, so check those out. DIY Money Podcast on pretty much all of your socials. Gosh, we've got to start TikTok, but it just hasn't happened yet. My dances haven't fully developed enough.
Well, you're moving. There's a lot going on.
I will not be dancing on TikTok, just to be clear.
At some point.
Maybe. Okay, so let's get to our question of the day. Allie, our question of the day is from?
Devin.
Devin, what do you got? DIY!
Hey, DIY Money Gurus. This is Devin in Illinois. Thanks for the show. You all do an amazing job, and I appreciate the questions you've answered over the years, as well as the different series episodes you do. Somewhat of a basic question. Five years or less, don't invest. Got it. But what do you do at five years? Say I've been investing for a house eight years down the road and now it's five years to go. What steps should I take? Should I move my invested monies out of the investments? Should I keep them in and just put future money into money markets or high yield savings accounts? Similarly, what would you advise if suddenly your time horizon shifts? Say you plan for five to eight years out, but now you need the money sooner, like four or five years.
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