Matthew Jackson: Managed Accounts vs Target-Date Funds | Retireholics

[0:00] JD: Wow, that's fantastic. [0:02] Chad: That's fantastic. [0:03] JD: That's fantastic. [0:05] Chad: Oh, that's. [0:06] JD: Oh my God, that's fantastic. Wow, that's fantastic. [0:11] Chad: That's fantastic. That's fantastic. [0:13] Mark: That's fantastic. [0:14] Chad: Oh, that's fantastic. That's fantastic. [0:18] JD: That's fantastic. [0:19] Mark: That's fantastic. [0:20] Chad: Well, that's fantastic. That's fantastic. That's fantastic. That's fantastic. That's fantastic. Oh, that's fantastic. [0:29] JD: Yeah, that's fantastic. [0:31] Chad: Oh, that's fantastic. That's fantastic. [0:34] Mark: That's fantastic. [0:38] JD: Yeah. When Brandon, when Brandon says hey guys, I'm really Busy [0:45] Justin: just scouring IMDb for [0:48] Chad: clips that's motivating me to get John Sullivan back on the show as a guest. [0:53] Mark: Just Jeremy's back on. [0:55] JD: We don't even have to be on the show. You just play an hour long that's fantastic compilation and move on. [1:02] Mark: Oh goodness, here we go. [1:04] Justin: We got noise today. [1:28] Chad: Ahoy, mateys and welcome aboard another episode of Retireholics. Our destination is the warm tropical utopian island of 401k. My name is Captain Dirty Beard and I'm joined by Long John, Chad Johansen. I don't know if it's really that long, but Justin C. Dog McNeil and Mark Shiver Me Timbers, Palmini, aka Rogue Guy. And the only reason I reference pirates and ships and things like that is this silly hat that I decided to wear. No other reason by that we got some 401k to talk about and so we don't have a lot of time so I want to get to it, get to the nitty gritty. So Justin, we're going to go straight to you. Justin's going to intro our guest and you out there are are going to vote on how well or how shitty Justin does. Give him a 0 to 10 and we'll see how he's doing. Justin, take it away. It's all yours, buddy. [2:28] Justin: Got the gun here, man. I wasn't ready for this. But you know, guys are gonna have to bear with me today because I'm a little excited about this one. I've said it many times that it's not always easy discovering some fun personal shit about our guests. But today I feel like I hit the mother load. The treasure trove. Lucky's pot at the gold of gold at the end of the rainbow. Call it what you will, but settle in folks because it's going to be a minute to get through this one. Our guest today is one of the most generally positive human beings the boys and I have gotten interacted with over the last year. As Gigi says he leads the nation smiling by a country mile. He's got a big appetite for life and a smaller appetite for appropriately sized shirts. What's almost as impressive or almost as more impressive than his two plus decades of experience in our industry is everything he managed to do. While he's not helping participants and plan sponsors achieve their retirement goals, his life seems centered around adventure and achieving the highest level in every aspect of. Started the last summer of his college career when a buddy and he drove the cars to Colorado with no job, no place to live. The next day they found a job and a place to live and it turned out to be one of the best summers of his life. Something very familiar about this Chad. [3:33] Mark: Yeah, right, right. [3:35] JD: How do you know this? [3:37] Justin: Oh, the Google machine. The Google machine. Anyway, he's got a dream to one day live on a sailboat in the ocean for part of his life. But he's terrified of sharks. Matt, I say you just adopt Chad's brother's motto and that there's no such thing as sharks, buddy. He once was a mechanical bull riding contest winner on the beach in Playa del Carmen. And what's more impressive about this, this wasn't when he when he was a young whippersnapper. This was six years ago. He's a volunteer executive editor for Colorado Bowhunters magazine. He's got a Brazil or black belt in Brazilian Jiu jitsu. Matt, you better watch out because I'm looking at the guy right next to us and he looks like he can choke the rear naked choke the shit out of you. Do you think it's good? What's that? Nevermind. Anyways, few things get his attention more than powerful motors and he can fix almost anything. He meditates nearly every morning. Mark, you know what he says? Her namaste's. Starts his day off on the right foot. He's not the greatest of scrabble players. He sucks at bowling too. He quite fittingly loves himself a good microbrew. He was a collegiate gymnast who once held an iron cross for 55 seconds. Loves working with 55 year older or 55 and older crowd. [4:55] Chad: That's creepy. [4:56] Justin: That is like you and I have two different outlooks on those 55 year olds. Matt. We either hang out with two different groups or you just don't know what fun is. But anyways. Ladies and gentlemen, the president of the president of institutional sales of 401k maneuver and the international best selling author. Yes, we've got another guest who's written a book, Mr. Matt Jackson. [5:22] Mark: I have many leather bound books and my apartment smells of rich mahogany. [5:32] Chad: Yes. [5:32] Justin: Now that was a hard one to get through. [5:34] Chad: Wow, that was long. Now I know how everyone else feels when they watch me never shut up. [5:38] Mark: That was Justin clearly did no work today. No work. Anybody who didn't get an email back. [5:45] Chad: Copy paste 8.44 mark. Nice. That's creative. I like that. Very different of you. It's very cool. I. Let's see. That was heartfelt. But I've got a poem that I spent some time. [6:02] JD: Oh geez. [6:05] Chad: I'm gonna read for you guys today. [6:08] JD: At some point, Matt, don't worry, you'll be able to say hi and hello. [6:12] Chad: It's not a haiku, Daniela. It's just a poem from my heart. I titled it Matt's Poem. That's not very creative, but hopefully the poem is. I desire to know more of this man. Are his videos legit or are they just spam energy exuding always full speed teaching and promoting the tribe to succeed. I had two beers before at the show. His smile is bright and a hair in a perfect coif. He's like the 401k version of Baywatch's Hof. Once he sent me a private message and I thought who the fuck is this? But then he responded to my anger with love and kind bliss. I couldn't seem to escape the steady drip of his vids. A talent for talking and motivating was his. Sometimes in a shirt that was one size too small. But boy, those pecs tell me that this kid can brawl mediums. He can rock a beanie, not so much. He wears it real high and it's hard not to mock. But writing him off, that would be ill advised and such. Because you see, Matthew Jackson is better than me. When I am mean, he is nice. When I cuss, he does not. When I'm drunk, he is sober, he does charity and I smoke pot. He helps old people when they need long term care. I'm more worried about the surf and the length of my hair. He's clean and I'm dirty. He shaves. I do not. He remembers your name. I forgot. So now you know. This gent is full of good. Doing nice things for people like a good lad should. Every one of his clients treated with service premier and yes, doing it all premier. Let me redo this last two words. Every one of his clients treated with service premium and yes, doing it all in a super tight schmedium. Michael Jackson Black Mountain Jujitsu. [8:49] Justin: You call him Michael Jackson, right? [8:51] Chad: Let's see. [8:52] JD: Michael Jackson. [8:53] Chad: Michael Jackson. I can't believe I got through the whole thing. And up the last two lines like, come on. [9:00] Mark: It was impressive though. You had some good, good one liners in there. [9:04] JD: It was incredible. [9:05] Justin: And totally made up for the song a couple weeks ago. [9:09] Chad: Not really. And housekeeping, get your keyboards fired up and ready to tap, tap, tap away because we're going to be doing chatboard champion. Someone will be anointed the champion. Don't forget, Matthew, you will be voting someone into these semifinals. And don't forget, you out there, you're going to vote for, for the winner. Acro Sin. You better believe it. Matthew, Maddie, Matt, Son does not drink. So you know how this goes. We're going to drink on his behalf. So when we get these smart, responsible people, we drink on their behalf. We start with Justin, we work our way over to Mark. That's how it's going to work. But you'll see, you'll still see his Acro Symphony penalties come up on the screen. And that's it. That's it for that. Let's go straight into headlines. Did you guys know this is about 7 days old? I apologize, but Morgan Stanley has a vaccine mandate for their employees. So Chad, Justin, Mark, if you want to visit a Morgan Stanley advisor in the future, you should feel safe. They're going to be vaccinated if they're at work. [10:28] Mark: We have to be vaccinated to go see them. [10:30] Chad: I have no idea. [10:33] Mark: Work with vaccinated clients, now that would be getting crazy. [10:37] Chad: Matt, can I ask you, when you meet someone for work these days, and I don't know if you're an anti vaxxer, so I apologize. I should have established that first. When you meet people for work these days, do you say like, hey, how's it going, man? It's good to meet you, bro. Bro, I'm vaccinated. I've Team Moderna, man. Do you start off your conversations letting the other person know you're vaccinated? Is that a thing? [11:01] Matthew Jackson: Just say, hmm. I just give him a big hug and I say, I hope you're vaccinated. [11:10] Chad: Seems weird to me. So anyways, I think it's kind of interesting to hear about companies mandating their employees to be vaccinated. They give them alternatives to work from home. Yes. Chad, you have a thought? [11:23] Mark: No, I was just going to mention another headline that I read last week [11:26] JD: of a group in Florida. [11:29] Mark: It's the same topic. A group in Florida returned everybody to work. Only one person was vaccinated. In the group. And they had. I think it was three people passed away from. From COVID And every person in the building got it. Except for the one person that was vaccinated. [11:46] Justin: Yeah, I did hear about that. [11:48] JD: That was. [11:48] Mark: That's an insane case study right there. [11:51] Chad: Yeah. Thanks for the positive feedback. [11:53] JD: Cool. [11:53] Mark: Yeah. [11:54] JD: Hey, people are dying. [11:55] Mark: Go get vaccinated. [11:57] Chad: Hey, Matt. [11:58] JD: Matt, can you spin that positively somehow? [12:03] Chad: More food for others. What was that? [12:06] JD: More food for others. [12:09] Chad: Yes. Let's go. Let's pivot off Chad's negativity to something positive. Chad, have you seen Kate Clark, advisor out of the east coast, new office that she's working on? [12:25] Mark: Yes, I have. Originally, when she bought it. [12:28] Chad: Listen up out there, advisors, industry peeps. I think this is the coolest thing ever. Thanks, Brannon. Kate bought this residential home with a cool little porch. I would call that country style, but I'm from San Diego. I don't know. And she is turning it into her office for her financial advisor practice. So she doesn't live there. It's not her house. She bought it for her office. She's paved a parking lot in front of it. She's decorating it. If you follow her Instagram, you know, that's where you're walking to have meetings with her. I think that's fucking cool. And if I had an advisor, I'd want to be some cool chick that has some hipster house that turned it into her office. Yes, Mark. [13:12] JD: I'm just saying it, you know, a picture of one place doesn't show the entire picture. I'm more interested in what the neighborhood looks like if it's just a bunch of ravaging alligators because it's in Florida and a bunch of crazy people cooking up, you know, barbecued gator on the side of the road. I'm not so sure that I agree with you anymore, but if it's just hanging out in a good area, then. [13:36] Chad: But, Mark, I kind of think those are her clients anyway, so they're cool. I just think that's fun. I think it brings a level of creativity and I think. Talk about branding. [13:49] JD: Jd, is this the first time you've ever seen an office be run out of a residential home? [13:54] Chad: No. Brandon's actually been bothering me for years, decades maybe, to do it, he thinks. [13:59] JD: I was going to say I've been into quite a few. I've seen. I was in one advisor's office that was in, like, a historical site. But, Bill, you walked in and, like, you stepped back in time, like, they're. They're doing like the level. One of the levels there's. But you can't really mess with it. So it's very old school. [14:16] Chad: Talking about this new cool factor. I know, I know Matt knows this. And I'll get his opinion on this. Frickin wealth at Work, formerly Excel 401k is not only cool because they have an ampersand. What is it? Ampersand. Ampersand. [14:36] JD: I don't know. [14:36] Mark: In their stand. [14:38] JD: But at symbol. [14:40] Chad: At symbol. Thank you, Brandon. I prefer that one. [14:43] Mark: I like the ampersand better. [14:45] JD: But they. [14:46] Chad: In a recent call with all the speakers And I know Mr. Jackson was on there, they said the attire for the conference will be CAS as in T shirt and jeans. Yeah, sure. Everyone. [15:04] Justin: Hey, we should all wear suits now. [15:06] JD: I'd like to announce my retirement for the male modeling profession. [15:09] Chad: I'm not. [15:10] JD: I. I'm not saying that. Sorry. My comment there is that still. And I'd be willing to bet that 50 or more people are still going to dress like a. [15:21] Chad: Damn it. That was my question for you, Mark. I want to ask. [15:26] JD: The amount of blazers and sport coats we're going to see is going to be nauseating. [15:30] Chad: Okay, you're reading my mind. Or steal my question for you. I was going to first ask Matt what he thought of it when he first heard that. So, Matt, were you excited? Did you. It's kind of earth shattering in my mind. [15:41] Matthew Jackson: Well, you know, Colorado meets Nashville. The only person I'm worried for is Tom Condren. Like [15:49] JD: I'm going to be looking. [15:51] Mark: And Kitsis worry about Kitsis too. [15:56] Chad: Then my next question was going to be to Mark, which was like. They were serious about this, by the way, Mark. They were like, listen, the dress code. Do you think the wholesalers and the mutual fund guys at their booths are going to follow these rules? Are they going to be dipshits? [16:14] JD: Nope. [16:14] Mark: Yep. [16:14] Chad: Okay, what do we do about it? [16:18] Justin: Their company is going to require spraying. [16:21] JD: Spraying with silly string when we walk by. [16:23] Chad: Okay, let's do it. [16:24] Mark: I like let's do it. [16:25] JD: Mark, you've always wanted to get kicked [16:27] Justin: out of a conference. Shady. Now's our chance. [16:29] JD: Oh, yeah. [16:30] Chad: Can the retireholics be self anointed clothing police at the wealth at work conference? And I'm with you, Mark. Silly string in their fucking face. Get your suit off, bro. [16:44] JD: Okay. That's the first that. The first time offense. The second time it gets worse. We put your name. We put your name in a raffle. And if you lose. [16:54] Chad: Yeah, Lisa Allen's on here. I'm sure she's going like, this is not your conference and can you please stop talking about it? Let me give. Let me give Lisa and Bryant and Ross and those guys a little plug. Wealth at Work is sometime in October. I can't find my notes. [17:11] Justin: Yeah, real quick. Lisa says they surveyed the wholesalers, too, and 70% of them voted for jeans, casual. [17:17] Mark: They told the speakers to be in jeans and a T shirt. That's what they told the speakers to be in. So that's awesome. [17:24] Chad: I think it's a great move forward, man. [17:26] JD: Okay, but. But not jeans and a V neck and a frigging sport coat, okay? Leave the jacket at home and untuck your shirt and don't wear dress shoes. [17:37] Chad: All right? Thanks, Mark. It's good clarity. Maybe we should send out an email. It is October 24th through the 26th. It's in Nashville. Go to wealth at Work live and check it out. If you enter the Code Rogue guy, then they'll pay for you to fly there. They'll put you in a suite hotel and feed you. Now, that's not true, but you should come. It'll be fun. Go to the conference. Yeah, yeah, yeah. Let's get into it. Mr. Jackson, I'm excited for your positive energy tonight. I think it's in good contrast to Mark's melancholy, kind of like, I'd rather be anywhere but here vibe that he usually puts off. Although you're very engaging tonight, Mark. [18:21] JD: Just trying to get through, man. [18:22] Chad: Let's talk managed accounts. Let's talk versus what you call. It's a mouthful. Personalized Professional Account management. Did I get that right? [18:34] Matthew Jackson: Yeah. [18:35] JD: What's the acronym for that? [18:37] Justin: Just thinking the same thing. [18:38] Chad: We'll talk a little bit about 4k maneuver. It's okay to kind of plug and give the audience some context to all this. But let me go to you, Matt. Are TDFs not good enough for not good enough for 401k participants? And if they're not, you know what's a better solution? Why are you taking off your shirt? [19:02] Matthew Jackson: I don't drink, but I am shipping tonight for every acro sin that you guys do. [19:09] Chad: Yeah, this can get ugly. [19:11] Mark: Did you say you're stripping tonight? For every acro sin that we do. [19:15] JD: How many. How many shirts do you have on? [19:19] Justin: Joey Tribbiani. [19:23] Chad: I love Crystal. Crystal said, mark, I think you need [19:27] Justin: to do it, too. [19:28] JD: All right, guys. [19:28] Chad: Little. [19:29] Justin: Little show. [19:30] JD: No, no, we're done. [19:31] Chad: All right, Mr. Extra Large. Are TDS not good enough? [19:37] Matthew Jackson: Kind of how fiduciary advice has evolved over the years. I think it has place. So, you know, I look at the way that the 401k space has evolved in the last 20 years. And 20 years ago, we didn't have technology to help us. And so buy and hold strategy was really kind of what people used. And they relied on their personal relationship with relationships with their advisors to be able to get advice on how to make rebalancing changes to their asset allocation. And then people started talking about the benefits of making sure that you rebalance on an annual basis. And so that was what people did for a long time. And then thank God, we had financial engines come along and do their deal with target date funds. [20:23] JD: And [20:26] Chad: I think it's important for people to understand I should have prepped this for some context, let them know about 401k maneuver and what it does. And if you've been with us before, we once had Bloom on, and I know you're not Bloom, and I know you're different from Bloom, but it was this kind of concept of taking. Taking control of a participant's account, whether they're at Voya, Empower, Principal, wherever, and actually making trades on their behalf in their core menu. Is that what you guys doing at 401k maneuver? [20:58] Matthew Jackson: That's exactly what we're doing. So we've on this show been through the perils of target date funds, and they're good for people who just aren't engaged with their 401k. But for people that want to try to optimize or maximize performance of their 401ks, they need more regular help. And so what we do a little bit differently is we want to be the partner for the advisor that fills in the space that they have a hard time filling. And that is, you know, quarterly reviews, quarterly rebalancing meetings. When we know, you know, if somebody's got 10, 20, 30, 40, 50 plans. How can you absolutely go see all those participants? You can't. [21:37] Chad: Thousands of them. [21:38] Mark: Yeah. [21:38] Chad: It's impossible. [21:39] Matthew Jackson: It's impossible. So rather than making our own managed account that we sell the different RIAs or, you know, different platforms that are out there, we value what the advisor brings to the table, which is. [21:53] Chad: What did I do? [21:54] Mark: Registered investment advisor Justin. I hope he gets to like a baby T shirt at some point. [22:02] Chad: Am I gonna have enough? Justin, you got a drink for him? [22:06] Justin: I'm working on it. [22:07] Matthew Jackson: He's drinking for me. [22:09] Chad: Can I ask you, Matt, you keep saying rebalancing, and I don't want to be a dick, and I'M not trying to be adversarial here, but. And I went to your. The website 401k maneuver. Saw the video of the CEO. Everyone should go check that out. And he talked about rebalancing as well. God dang it. Chief Executive Officer rebalancing. Can I click a little button in my record keeping program, whether I'm at nationwide or voyeur or whatever, and tell it that I want to rebalance every quarter? Like, why are you guys so hyped up on rebalancing? [22:43] Matthew Jackson: Well, a lot of people know that they can and should rebalance, but they don't. It's kind of one of those fire and forget kind of. [22:51] Chad: Good answer. You're doing it for them as opposed to leaving it. Well, but that was my point. [22:57] Mark: Your point was Tech can handle that, J.D. like almost every record keeper you can set up to auto rebalance quarterly for most of them. [23:06] Chad: Well, David K. Is being more adversarial than me. David, bringing it the chat bar. Let's talk about fees. I don't want to be too all over the map, but. So how do the participants pay for this service? If they want to utilize it? [23:23] JD: Yeah. [23:23] Matthew Jackson: They can either pay for it right out of their plan, have it be deducted. So when this all started, we looked at, you know, there's a lot of participants out there that don't get any advice. And the problem for them is like, you know, they leave a lot of money on the table each and every year. And we would love to do this for free. And so if you were to come into one of our offices and want personalized advice on your 401k or let's look at your individual retirement account. Fees can range anywhere from 100 basis points all the way up to 200 basis points. And so our fees range anywhere from 80bps all the way down to 50bps depending on the plan sponsor size of the group. [24:06] Mark: I agree. Mark. That's a. That's a ring, dude. [24:09] JD: That two. That's two. [24:11] Chad: Oh, okay. That's me. [24:13] Mark: Basically, points. That was an abbreviation for basis points. [24:16] Matthew Jackson: Am I going to be happy? [24:20] JD: Keep your pants on, Mr. Jackson. [24:22] Chad: Chad. I asked Mr. Jackson if target dates were not good enough, but the next iteration would be a managed account where I reach out to that participant with some type of risk tolerance questionnaire or app. They answer questions and then we put them in a manage account based on the answers to those questions. Is that not good enough? And can you tell me, do you see any difference between what Bloom or 4K maneuver is doing that's better than I think. [24:58] Mark: And I haven't seen the technology or the factors that weigh into how the investments are selected. But the difference between a managed account based upon a simple questionnaire is that everybody's going to end up, almost everybody is going to end up in one, two or three types of portfolios. There's not much variance and there needs to be more variance if we're trying to do active management or an individual portfolio inside these plans. And I want to make a comment too, JD all of the negative mentions in the chat bar right now about this strategy have all been around defaulting employees into this. And I've always felt that in my opinion, if we're defaulting, if we're using a, using a qualified default investment alternative, it should be an inexpensive type of diversified portfolio. That is my opinion because you're taking someone who's not making a decision and that often is a good prudent step for a plan sponsors to say we're not going to let cost be a component of this. We're going to use one that is a good investment but is cost effective. I think if we're defaulting folks into a managed account that is more expensive than a target date or defaulting them into this type that is more expensive, that that is not the right way to go. [26:12] Chad: Three piece says fuck you, Chad, let them opt out. But I hear what you're saying, they're [26:17] Mark: not taking any action. Three piece, that's the point. [26:21] Chad: How do you not to put you on the. Under the heat lamp here, Matt, but how do you answer this concept of like look, we got managed accounts, man, we had target dates, we got managed accounts. Why the hell do we need this, this version? [26:37] Matthew Jackson: I get asked that question all the time by plan representatives and they're like, you know, why would I do a managed account? It kind of takes away my value. I spend a lot of time putting together a really good plan menu that people can choose from. And then a managed account comes into my plan, just says, well we really don't need the plan representative and you should just go with the funds that we choose. So I look at from the representative [27:03] Chad: side, I definitely don't. I'm with you on that. I don't think any of these things are anti advisor. I think a good advisor can promote a target date fund. A good advisor can promote a managed account and a good advice. And you have advisors that partner with 401k maneuver to offer this to their clients as a different alternative. So I'M with you on that. I don't think it takes away from the advisor. I thought you were going to say one of the advantages of a, of a bloom or a 401k maneuver is that it's irrelevant of the record keeper. Right. So now, so now it doesn't matter like what record. You're not being force fed a managed account. You can literally use it anywhere. So anyone? [27:44] Mark: For sure. [27:45] Chad: And so I thought that is kind of interesting. [27:47] Mark: Great point. [27:48] Matthew Jackson: You know, for a small startup company really getting our feet underneath us. We have over 350 plans that were integrated with and over 70 some different financial institutions and custodians. So you know, our system that we've worked for three and a half years to build and integrate and is approved by the Department of Labor is a really cool system that any custodian or financial institution that allows us to do billing with them, we have the technology to play ball that's pretty revolutionary and disruptive in our industry. [28:20] Chad: I saw something on the website that it said that if I'm a participant and I want to join this that you can actually even just charge my credit card. And you and I didn't talk to. I like that concept almost. Yeah. Mark, I pay for a service like hey, you're going to give me this extra layer of, of counsel and support and do it for me. I'll just pay off my damn credit card. So I think that, I think you should push further on that side versus trying to build all these pipelines with the record keepers. Yes, Chadwick. [28:52] Mark: Well, I'm just chatting with Tom in the chat bar where he mentioned most managed account services outperform and I asked outperform the average investor or outperform a target date fund or a model portfolio, something that diversify someone. He said a target date fund. Which surprised me on that answer because I think any type of oversight on a portfolio is going to outperform the average investor because most people don't do shit. They set something up 10 years ago and they leave it. And so any type of rebalancing or proper diversification is going to win. But I'm not sure I agree with that. The majority of managed accounts after the fee are beating the average target date fund. [29:33] Chad: I wasn't going to grind Matt on this, but I went to the website and I went to try to look at the fees at 401k maneuver and so I did the little calculator where I put in, hey, I've got a million dollar balance, I've got 20 years to retirement, I expect a 6% rate of return. [29:50] Matthew Jackson: Cash rules everything around me. Queen, get the money dollar, dollar bill, yo. [29:56] Chad: And it pumped out these numbers telling me that I could get an extra 4 mil if I used 401k maneuver. And I was like, are you guys okay to say that kind of shit? Like, I was a little tripped out. Like, there's definitely a performance vibe on there. Like, hey, you're going to get better returns with us. I thought we weren't allowed to say that stuff, right? And as I say that to Matt right now, Matt's going, jd, I'm a nice guy. You're such a fucking dick. Why are you putting me on the spot? But I definitely felt like performance was heavily emphasized on the website. No. [30:32] Justin: Well, it is. [30:32] Matthew Jackson: And at the end of the day, outcomes is really what our participants really care about. Like they want to have more money. Of course, fee compression and fees are something that we're very sensitive to, but people don't want to be leaving money on the table each and every year. And those. That calculator was built on a study that Aon did over a seven year period of time where they analyzed participants that got help and those that didn't. And what they found was that the people who got help had 3.32% higher return net of the fee to get that help, which in that study was 1.5% versus the people that didn't get any help at all. So, you know, if you're not doing anything but a buy and hold strategy, and I would even argue a lot of target date funds if you're doing that kind of a strategy, we believe that our methodology has a really good chance of producing those types of results. And I'm not going to say better, but we're pretty convinced that, you know, it's much better than what's out there. [31:32] Mark: You do have a grandfather clock. Of course Matthew Jackson has a grandfather clock. [31:37] Justin: It's like, what the hell is it? [31:39] Mark: Oh, goodness. [31:40] Chad: Hey, here's. [31:43] Mark: I was just going to say, let me be in full transparency. Could I invest myself in a target date fund? Yes. Do I choose to pay an advisor personally to help me with this, to diversify me, to rebalance me, to do everything you're describing? Yes, I do. So while I'm arguing that a TDF is a good damn, a good strategy for the average investor, I see the value in what you all are doing. And I happily pay an advisor to take care of that stuff because I know he's going to do better than [32:15] Chad: I Am I also do think a little over analytical because I think choice is good. It's good to have different options for these participants. You know, different people have different needs. I just feel like this, this whole kind of version of going in and grabbing control of their account is very unique. It's very different. When I first, when we first heard it from Bloom, go back to like retireholics episode. I don't know what the fuck I was. A long time ago, we were kind of blown away. We were like, well, this is crazy. This is cool. So it's, it's awesome to find. [32:49] JD: Maybe you were, you were over it. Too many O's in their name. [32:54] Chad: Yeah, and they're still. [33:00] Matthew Jackson: Daniella just brought up a great point. You know, she doesn't have time. And she pays somebody just like Chad, you know, to help her. She doesn't have time. Well, how many millions of participants out there in the same boat? How many millions of participants out there, they get their statement in the mail every quarter and they go. [33:17] Chad: They don't even look at, bro. [33:19] JD: I'm the smallest statement I've ever seen by that person. [33:23] Chad: Hey, I think sometimes we forget we live, breathe and sleep this stuff every day. I've got a. As everyone knows out there, I've got a new HR person. He pulled me aside the other day, Human resources. He pulled me aside the other day to show me our enrollment form. And I was looking at our core menu and I was looking at about 24 funds and a lot of abbreviations for mutual fund names. You know, they had taken T row and shoved it down into a couple letters. And there's small cap, mid cap, large cap. And what did I do there? [33:59] JD: I didn't touch that one. I was Brandon Mistake. Sorry. [34:05] Chad: Well, that can get dangerous. And what's my point? My point is he had asked me like, hey, can you kind of explain to me the lay of the land here on what this all means? And 45 minutes later, you know, I'm explaining to him the asset classes and [34:23] JD: the chat bar counts, Chad. [34:25] Chad: And the different. And the different asset classes and the different fund family names and what the suite of 10 target date funds were. And I realized, like, it's confusing and it's a lot of shit and for the average person, it's so hard to understand. [34:40] JD: You're just figuring this out. [34:42] Chad: Yeah, I think I forget, Mark. I think I forget because we live it every day. With that said. [34:50] JD: So after our new human resources person put that in front of your face, did he also put my complaint about My boss Chad, in front of your face as well. [34:59] Chad: No, I haven't seen that yet. Do you have a. Have you filed a. [35:02] Justin: You weren't going to put that in Mark? [35:04] JD: Oh, I decided to. It's getting a little hostile around these areas. [35:08] Chad: Did he touch you in the wrong? [35:10] Justin: It was one night in Tahoe. [35:12] JD: In Tahoe got a little weird. [35:15] Mark: That was Yosemite. That. It got a little weird. [35:17] Chad: I was always talking about touching clients. He's like, you need to touch your clients more. I'm like, it sounds weird. Let's spin the Wheel of Ice. And, Brandon, if you can be, like, multitasking, spin that wheel. And then what I'd like to do is, whoever loses and drinks, we can then do a. It was Mike Mikey Webb that said, hey, if you don't have any new drunk marks, just play an oldie but a goodie again. So I'm hoping we can spin the Wheel of Eyes, find a loser, and then play a drunk mark. We'll revisit the old days when Mark got drunk a lot. [35:53] JD: Re. Recycle it. Huh? [35:55] Justin: That's no good. [35:57] Chad: It is good. [36:13] JD: Double him up. Double him up. [36:15] Justin: It's only Chad that gets those right. [36:21] Mark: God, it's only me. Only me. [36:25] Chad: And now a message from drunk Mark. From, like, four years ago, five years ago. I don't know. Excited? Webby, Drunk Mark coming your way. Yes, he says he's excited. I love you, Webby. [36:38] JD: I hope it's not the song. [36:41] Chad: I'm gonna write you a poem someday, Webby. Oh, wait, I think I already did. [36:45] JD: Yeah, this is a man. [36:46] Chad: Can you fucking get to the trigger? Here, let's play [36:50] JD: if you want one of these. Limited edition. [36:53] Justin: God, he looks so young. [36:56] JD: Limited edition. Not jackets. But your TPA sucks hat. You can call 1-800-PDC for life. That's a fake number. Don't call it. Or you can challenge me to a duel on the golf course. You have to pay. I'll come play. I'll beat you. No duh. And then you get a hat. If I. If you. If I lose, which I won't, because I don't lose ever, by the way. So remember that. [37:25] Justin: I win, you lose. [37:27] Chad: Okay? [37:29] JD: So you'll never get a hat. You'll be sad. I'll have the hat. I'll wear the hat a lot. I'll wear it to a meeting. I'll win. [37:37] Justin: The plan. [37:38] JD: You'll be happy. I'll be happy. I'll take you to the golf course to celebrate. I'll beat you again. Keep that It's a repetitive cycle, you see. [37:51] Mark: Oh my gosh. [37:53] Justin: I think you have to drink for that. You did say plan to spine consultants. [37:59] Mark: Oh, goodness. [38:01] Chad: You're pushing the rules. But I tell you what, Webbie, next week I was going to talk about this at the end of the show, but next week we will be streaming live. All of us on the couch together. Old school retireholics. And maybe we can get a drunk Mark segment out of that trip. Mark's coming down here to San Diego. [38:22] JD: Dude, I quit drinking. [38:25] Chad: See if we can pull one out. Maddie, let's talk group. You say group. I have question marks around that. I call it long term care insurance group. Long term care maybe is something I need to learn about. But what do we know about the average cost of healthcare and retirement? And I know you guys are all experts out there, but I'm setting you up for this. But I think it's important. I don't know if we talk about it enough. So healthcare expenses and retirement. What can you tell us about that, [38:54] Matthew Jackson: Mattie, from my days being a long term care insurance slinger advisor time. It's 300,000 plus for the average American family. And the U.S. general Accounting Office is 70% of Americans over age 65 will need some type of long term care at some point in their life. In my opinion, biggest risk to anybody's retirement plan needing long term health care. [39:22] Chad: I love. As we immediately start talking about insurance, people already start chiming in with it's expensive. It's expensive. No, I think it's legit. We focus as an industry on getting people to save money to fund their retirement. No duh. But are they thinking about that expense of health care or they just. They're not, says Mark. Yeah, and so I think it's important. I'm not an insurance guy. I'm not an expert. Is insurance. [39:56] JD: If you're saying would be the worst insurance person ever. Why? [40:01] Chad: Why do you say that? [40:02] JD: I don't know. Because people don't trust them in general. And looking at you like no, look at you. I'm not buying anything from you, Mark. [40:09] Chad: But Mark, I have the best writers, bro. I got ye. Nice photo. I forgot about that one. Is insurance a good way to accomplish this or do I just save more for this crap? [40:22] JD: Not you, Serge. You're different. [40:25] Matthew Jackson: Why wouldn't you use other people's money? I mean, we use other people's money to pay for damage to our car, pay for damage to our houses, our medical expenses. And Lauren's been bringing up some really cool things about long term care. So is Webby. You know, the, the, the notion about long term care insurance is that it is unobtainable, it's too expensive, the carriers will raise rates every five years and they just don't pay. I'll tell you, as one of the top long term care planners, you know, a decade ago, for quite some time, the carriers that I worked with, John Hancock and many others, had over a 98% claims payment ratio. Pretty outstanding. Yes, some of them have had rate increases, but it's not arbitrary. They can't single out a JD Carlson, a Chad Johansen and raise their rates individually. They have to do it for every single person in that age class for the entire state. And we do know that companies have been raising their rates. However, when they do, clients that I have worked with for more than a decade, they don't cancel their plans because the benefits inside those plans are so rich. Even if it's a use it or lose it type of deal, they're worth having because the way that I built the plans for them, I would say let the interest on your savings pay for the insurance that protects your entire savings plan. Whereas if you're just reinvesting your dividends every single year, pull off a little bit of that and pay for the wrapper that goes around your entire insurance plan, which could be a long term care insurance plan. And I will admit traditional long term care insurance can be unobtainable not by cost, but because of underwriting these days. It's harder and harder to qualify. [42:09] Chad: Go ahead. [42:10] Mark: I was just going to ask because I know nothing about this space. What does it look like? Everybody's ranting and raving about the cost. So let's say I decide to buy a LTC thing at policy when I'm what, 55 is the time when someone should be doing that maybe. What am I looking at? [42:26] Chad: Spending earlier than that. [42:28] Matthew Jackson: So if you did the opportunity cost analysis. I first bought my first long term care insurance plan almost 20 years ago, like 23 or 24. [42:38] Chad: But just understand that Chad drinks like seven days a week. [42:42] Matthew Jackson: So. [42:42] Chad: But go ahead. [42:43] Mark: I force for my job so you [42:48] Matthew Jackson: know, a 55 year old to have a decent plan that pays for them. You know, Colorado, I'll speak about color. Colorado only, you know, 3 to 4 grand a year, that's not cheap. However, it's certainly a lot more affordable than 3 to 10 to $11,000 a month. And I've been through that. You know, people say I, I have no problem paying that until you write that $7,000 check for your fourth month in a row, your fifth month in a row, your sixth month in a row, then it gets really stressful. So to answer you guys question, you know, what's the best age to purchase long term care insurance? When you're as young and as healthy as possible. [43:25] JD: Let me. [43:27] Justin: That ship has sailed away for us. [43:31] Matthew Jackson: But it's only going to get further away the longer you guys wait. You know, as, as we get older, this is what I would tell clients. You know, you say no today, in three years from now, all of a sudden you're 16, you got hypertension, you got depression. That's a check mark against you in underwriting. And the worst news I could ever give to somebody, and this has happened to me many times over my past career, was somebody would contact me, say no, well, think about it. Three years later they'd contact me. And the first thing I would say is we talked three years ago. What's changed in your life that made you want to contact me today? And they're like, oh, so and so had a heart attack or somebody fell and broke their hip. Guess what, now they can't qualify. And they are in. [44:12] Chad: Yeah. Did you see Mrs. Brandrup's comment? She said they talked to over and over and over again. And so Chad, Justin, Mark, I hope you guys are comfortable with this. I want this show to skew towards some of these non 401k things from time to time because I do believe that event diagrams, you know, it overlaps as I stated before with what we do. And kind of my question to everyone before we move on on the subject is like, is a good advisor someone who can not only help you with the 401k but also needs to know about this insurance stuff? And maybe they don't sell you the policy, maybe there's someone else, but maybe they have life insurance. [44:56] Justin: Bill Ryerson, he's my new insurance agent. [45:01] Mark: That was kind of. [45:02] Chad: My agents get such a bad rap, bro. They get such a, such a bad rap. And I guess it's because of fees, but anyways. So Chad, don't you think that's the new age we're going towards is where someone's thinking about all these types of things? [45:14] Mark: Well, that was kind of. My point is I think to be a good advisor, to be a better than good advisor, to be a holistic advisor, you need to have an understanding of all of these things and whether or not you're willing to sell long term care. You should be having a conversation with your client as to why you believe in it or don't believe in it if that's the case. And I think that that kind of conversation will create value for many advisors who are just sidestepping it and never talking about it. [45:45] Chad: Yeah, so anyways, you know, we didn't even talk about. We can't, I've got to move on. But what about your parents? Do you ever. I won't even ask you to answer this but you ever think about your parents or your in laws and the fact that they're going to be living in your guest room and are, do they have long term care insurance? Are they financially prepped for the health costs that they might go through? Because I tell my mother in law all the time I will fucking get her. Like what's those little silver trailer things that. [46:15] Justin: Airstreams. [46:17] Chad: Airstream. I'll put it on some empty lot out in the inland from here. I'll lock those doors and put you know, microwave dinners in through a little slot every night because. Every night because I don't want her living in my guest room for the rest of my life. I'm just kidding. [46:31] Justin: That remarks for me and I know you don't want us to respond to that. [46:34] Mark: That's something that Trish is saying. [46:35] Chad: Yes, I go into a life of retirement for all the good service I've given. Where does Brandon have all these kiddos? Go ahead. [46:42] JD: How does he have the time? [46:44] Justin: I don't. [46:45] JD: He probably hasn't rebalanced his 401k for years. [46:49] Justin: Probably doesn't have long term. That's something that Trisha said a little while ago in the chat. It's like, hey, it's taken care of so her son doesn't have to worry about it. You know, she's done that and I think that's, that's something I've never thought about. It's huge, you know. [47:03] Matthew Jackson: Hey, I have one more thing jd, but this is really important. What's the benefit? [47:08] Chad: Can you save it for the after show? [47:09] JD: Matt. [47:10] Chad: What the. [47:10] JD: No, no, let them go. Let him go. I overruled you. [47:15] Mark: So think. [47:16] Matthew Jackson: You know for your practice, if you have succession planning and you want to try to sell your practice, right. Your multiples are built on like what your retention rate is and things like that. Well listen, if you're individual Advisor, rolling people's 401ks and a rollover individual retirement accounts, what could be the impact on your business, your succession plan when you want to sell your business, if 70% of your assets under management goes walking out of the door over the course of 10 years because of long term care. [47:47] Chad: Got it. [47:48] JD: That's cool. [47:48] Chad: That's cool. [47:49] Mark: Super interesting space for that. [47:50] Chad: That's interesting. Yeah. Michael Webb, jeez. If you could grab Ross Marino's little magic wand that he has on his podcast, the podcast outcomes and make anything happen right now on this show, what would you make happen? [48:08] Mark: Oh, he has already voiced his opinion. He wants Lamer Game. [48:11] Chad: It's Lamer Game Game. [48:13] JD: Guys, it's way too. It's way too late for that. Land a graph we need to do. [48:20] Justin: We had to break content for this [48:22] JD: in after show for Lamer Game One of these days. Anyways, Matt, welcome to the game. Are you ready? I feel as if you've actually done Lamer game within your LinkedIn posts a time or two. So this is. You're. You're basically a seasoned pro at this point. So we'll just jump right in. My first question, this is very simple and I'm actually curious to know what everyone thinks about this. Now that we're ending, in some ways the. The quarantine portion of our lives and going back out in the real world. [48:58] Chad: Delta variant may have something else about that. [49:01] JD: Whatever, dude. So Southwest variant, you. United variant, they're all coming. They're just based on which airline you take. [49:07] Mark: Whatever. [49:08] JD: Whatever credit card you have anyways. Business cards, Matt. Lamer Game still ordering, using, providing, laying them out on a table, handing them across the table. Business cards. Are they lame? Are you game lame? I'll give you the chance. Do you care to expand? [49:37] Matthew Jackson: I prefer the personal touch. I honestly don't even carry business cards because I would like to make the personal connection with folks. And if they want to me, they get my personal cell phone number and we chat. [49:47] Chad: Boom. [49:48] JD: I'll go to Justin next. [49:50] Justin: Oh, dude, this is tough. Like, right in the middle because our cards start a lot of conversations. Like, they start feeling like, oh, this is kind of cool. And I like that part. But at the same time, I hate carrying them because it looks like I got hemorrhoids or something in my back pocket. [50:03] Mark: Wow. [50:04] JD: Wow. You might need one. [50:05] Mark: Or you do. [50:06] Chad: You do. [50:07] JD: Yeah. [50:08] Chad: Our cards are sick. [50:10] JD: Just a simple lamer game would suffice. [50:15] Justin: You asked Matt for an explanation, so I thought. [50:17] JD: I didn't ask you for one. I did not ask you for one. [50:20] Justin: God, you get mad when I talk. You get mad when I don't talk. [50:25] Chad: I love it. Who's turning? [50:27] Justin: Did you answer? No, I'm not answering. [50:29] Chad: Chad, you're up. Wow. [50:32] Mark: All right. [50:33] JD: Guess what? [50:33] Justin: You Don't. [50:34] JD: You don't rule this game. [50:35] Chad: J.D. you're next. I. I recently cleaned out my closet, [50:41] JD: and it felt great, which probably wasn't very hard. [50:45] Chad: No. I purged a lot of stuff that I never wear, and it feels great. Like, I had a really simple closet, and I went into my sock drawer and simplified that. And what did I find in my sock drawer, but want to know? Business cards of mine. Like a little box of business cards. Because I don't use fucking business cards. But just seeing them and putting my hands on them and, like, seeing my name on them kind of reinvigorated me where I was like, these are kind of cool. So I don't know. I'm. I'm calling game in a retro sense. Like, I want to go retro to the biz card. [51:19] JD: I'm kind of remember our. [51:21] Mark: Our early biz cards at Plan Design. JD Said I want it to. Or it was our website. You wanted to be like our business card, which essentially had nothing but like a contact us. And then when you came out with the business card, should be personal. Like us. Going back to Matt's comments where it said, mark's a Raiders fan and, you know, I'm a nerd, that's when it started to create some dialogue. I think we still need business cards. I think we need them. When you're out at a golf event, you're at a ball game and you get a chance to talk to. You're at a conference. Like you, Matt, you don't get a chance to be very personable and share your cell phone number all the time. You know what? I don't want to reach out to you. [52:02] JD: Yeah, here's business card. [52:03] Matthew Jackson: My home numbers on the other side. [52:05] JD: Brandon, you're amazing. This is taking way longer than I anticipated. But this is what I understand is when you're. When you're actively doing business and you want people to contact. I have to. Especially I'm speaking to advisors. Is that I go on your LinkedIn page and on your contact info, your email's not there. And then I go to your website and the contact me is a bullshit. Fill this out to get me to contact you back. Put your damn email address somewhere. [52:36] Chad: It's not that big of a deal. [52:38] JD: Were you afraid of the spammers and the get a better IT person? [52:41] Chad: Oh, shit. [52:43] Justin: Anyways. [52:44] Chad: Yes, Mark, Great advice, Mark. Everyone out there, if your email is not in your contact on LinkedIn, what [52:52] JD: the hell is your problem? What, are you trying to be off the grid? [52:55] Chad: Jesus Christ. [52:57] JD: Hey, I want to warn you though, if you have your. Here we go. Cyber security alert. [53:02] Chad: Cyber security alert. [53:03] JD: Please just mute him. Don't just accept anybody who wants to be your buddy. They do that only to get your email address. Okay, Brandon, Brandon, this isn't. This isn't the time for this. Yeah, come on. [53:15] Mark: Go. [53:16] JD: Just. Just go. [53:18] Chad: Cybersecurity. [53:19] JD: All right, next question, next question. And I. Matt, I feel like this very much applies to you and I already know your answer, but I'm going to ask you first anyways. Working out or going to the gym while on a vacation. I'll call it an extended vacation. Somewhere you're going to purposefully disconnect. Have fun, do fun things, go on adventures, go to the beach, whatever. Still maintaining your gym and workout routine. [53:45] Chad: Lame. [53:46] JD: Or game. How long am I away for? [53:49] Matthew Jackson: 1 week or 2? [53:52] JD: 10 days? I'll meet you in the middle. [53:56] Matthew Jackson: Lame. I'm chilling. [53:58] Justin: Yes. [53:58] JD: Wow. [53:59] Mark: That was not the answer I expected. [54:01] JD: That's not what I expected. All right, Justin. [54:04] Matthew Jackson: Too much at home on vacation. I'm disconnecting [54:09] Justin: your game. [54:10] JD: We were gone together for seven straight days. I didn't see you exercise once, so that's a lot. [54:15] Mark: I paddled around the. [54:16] JD: The lake. Yeah, so did I. That's not a workout. [54:18] Justin: I hiked the freaking Yosemite's. [54:21] JD: Yeah, so did I. With the child on my back. All right, you made it halfway. Halfway. Halfway is better than nothing. All right. [54:28] Matthew Jackson: J.D. [54:28] Chad: i'm 1 million percent game. If I'm at the bar in Maui, I feel so much better. If I cranked out my workout in the morning, it lets me drink more my ties and fucking rip it up like I'm. [54:43] JD: Chad, Chad. [54:44] Mark: I'm. I'm not saying I do it, but I am game. [54:48] Justin: Hey, we've worked out on vacation. I've seen you do it. [54:51] Mark: We have. We have. [54:53] JD: All right, here's another business type one. Let's say you get an email and you copy somebody in and then the response comes back to you, but the person who was copied in is no longer there when you respond back. Copying that person back in. If that makes any sense to you guys. Lamer game. Matt, your first [55:18] Matthew Jackson: essential to the conversation. I'm copying them. Not essential out. [55:26] Mark: Keep always tries to remove me from conversations and then people put me back in. [55:31] JD: Right. [55:32] Mark: Thankfully, yeah. J.D. [55:35] Chad: not certain I understood the question, but I've had a lot to drink today, so I'm just. [55:43] JD: I just don't like it when you. You send an email and they're. They get an email and they Respond back. The person that's copied there doesn't really need to be privy to the information you're sending back. And then all of a sudden they're back on the next one as if you like it's. [55:58] Chad: I get it. Yeah. It's kind of like you made a move. You made a move and they're canceling your move and putting them back in and you're offended. That's lame. That's lame. You made a solid, solid choice. A back you, Mark. A back you, Chad. [56:14] Mark: I'm game and happened this week. My example would be I have an. An advisor support person that is pulling the advisor from the chain and I don't feel comfortable with that response back without that advisor being looped in. And so I continuously put her on. And so that is my. That's my current example. It's time game put them back on. If the right person needs to be on there, they should be on there. [56:39] Chad: I want to comment on Lawrence. Lawrence comment. I want to be clear. I've never removed someone like that in my life. I've always just gone reply all. But I'm just lazy like that. [56:48] JD: But hey, guys, guys. I'm removing Justin from this question. [56:52] Justin: Don't tell him. Well, I'm not going to take it. So here's my answer. [56:56] JD: All right, last one. I'll make it. [56:58] Justin: No, I'm giving my answer. Jesus. [57:00] JD: No, you're removed. [57:02] Justin: I don't care. [57:03] JD: Who brought you back in to the chat? [57:06] Mark: I did, apparently. [57:08] Justin: Was I removed from the cc? [57:09] JD: Nice. Creepy. Oh, that counts. [57:12] Justin: Put me back on the question. So anyways, it's a lot of what I say. [57:16] JD: You said carbon copy. [57:18] Mark: Carbon copy. [57:19] Justin: So no, a lot of. Some people just hit reply instead of reply. All by accident. [57:24] JD: So, yeah, sometimes it's obvious when it's an accident, but it's obviously when it's apparent I get done unintentionally. Anyways, Jesus, man. All right, last question. And this is a stupid one. This is a toss away, but taking pictures of scenery on your phone. Matt. Lamer game. [57:45] Mark: I love it so much. [57:49] Matthew Jackson: So game machinery picks. [57:50] JD: Okay, that was fantastic. I'm not that we. There's no need for anyone else to answer. You know what they say. [57:58] Chad: Solid end. [57:58] Mark: You know what they say? [58:01] Chad: That was good. I. I'm claiming that might be in the top three lamer games of all time. I think it's well thought out. [58:09] Justin: It took up 10 minutes. Hey, when you. [58:11] JD: When you've got Matthew Jackson on the show, you got to bring it and bring it with Energy and fun. Or else he may not respond to another DM I sent. [58:18] Matthew Jackson: You know, I do have to backtrack a little bit about the workout question because it just depends on the time of year. You know, I do Brazilian jiu jitsu, and so I often have a bunch of killers waiting for me at home. And if I don't come back in tip top shape, I'm in pain. [58:35] Chad: Black Mountain jujitsu, motherfuckers. [58:42] Matthew Jackson: I'd rather be the hammer than the nail, as we say in the beginning. [58:46] Chad: Let's see next week. Oh, we gotta. We gotta get the chatbar champion out of the way and then I'll wrap it. All right, Chopper champion. Justin, you go, go, go, go. [58:54] Mark: Greg. [58:54] Justin: Greg. [58:55] Chad: Gg, Chad, go. [58:58] Mark: I'm going. [58:58] JD: Lisa. [58:59] Mark: Solid night. [59:00] Chad: Like it? I like it. Mark, go. [59:05] JD: She can't win again, but Daniella was so kind to me. Thank you, Daniela. [59:14] Chad: I'm gonna go Crystal. Just because she's an enigma for me. I don't know. I like her. She does some things. I don't know if she did a great job today. I saw her earlier early on. I'm going Crystal. Matt. [59:24] Matthew Jackson: For me, it was a toss up with Lauren and Lisa. [59:28] Chad: I think I might have to go for you. I got news for you. Got to pick someone. [59:32] Matthew Jackson: Lisa. [59:33] Chad: Lisa. That's two for Lisa. Brandon, did you catch all that? Sure he did. [59:39] Mark: Jerry. Jerry was my second in votes for the S. Well, I'm not gonna say it for one of his comments. Jerry was my second in votes. [59:47] JD: It was. [59:47] Mark: It was solid. David K. Was right there, too. [59:50] Chad: Here we go, people. Get your votes in. [59:53] JD: Oh, wait, can't we vote? [59:54] Justin: Why do you tag with us every week? [59:58] Chad: Guys, can I explain something? Because I love seeing you guys freak out. [1:00:02] JD: I have to make that choice. [1:00:03] Chad: You voted them into the semis. You voted. Now it's for the. [1:00:09] Justin: I need continuity. [1:00:10] JD: JD it feels way more official if I can click their name and then hit. [1:00:14] Justin: Because they don't get a vote. [1:00:16] Mark: Yeah, what if they get none? [1:00:17] Justin: Get a nomination? [1:00:19] Chad: It's tied right now. I do not want to do a tiebreaker. I don't have time for tiebreakers. Vote someone. Vote Daniela. [1:00:26] Justin: That's a comment that won me for Gigi too. Not to mention he made my intro. [1:00:31] JD: I'm going to ask the question is saying Greg's name like that. [1:00:35] Mark: I was wondering. I don't think so. I don't think so. [1:00:38] Justin: We know, Jade. [1:00:39] Chad: All right, we've got a tie. Brandon. It's a tie. Okay. All right, so you know what? Happens in a tie. Greg Greenfield, runoff. Lisa Allen, you go head to head in a mono iwu mano tiebreaker. The question will be, what do you like most about Matt? And a schmedium. Go. So I like when his nipples show through. [1:01:09] Mark: I did. [1:01:10] Justin: Gotta be nipples. [1:01:12] Mark: Got a schmedium tonight. I'm gonna put it on for Matt. [1:01:15] JD: Oh, he's gone. Okay. He's got another one. [1:01:19] Chad: The gun show. Is that your answer, G.G. the gun show. [1:01:22] Justin: How big was your order at. [1:01:23] Chad: Yes. Okay. [1:01:26] JD: David Gay just won. [1:01:27] Chad: David. [1:01:28] JD: Can we give it to David K. [1:01:32] Matthew Jackson: Okay. [1:01:33] Chad: All right. For the first time ever in the history of chat bar champion, David K. Has set new precedent. He has snuck into the final voting with schnipples and one chap. Our champion. Never been done. [1:01:48] Justin: Brilliant. [1:01:49] Chad: Holy shit. [1:01:50] JD: There's a first time for everything. Congratulations, David K. Oh, that's great, Brandon. [1:01:57] Justin: You got to roll your new video for that, Brandon. [1:02:00] Chad: Oh, thank you. Oh, wait. Next week, Retireholics coming at you live streaming Thursday night, same bat channel. [1:02:08] JD: From where? [1:02:09] Matthew Jackson: From where? [1:02:10] Chad: James Douglas Diego here in this office, all four of all five of us together. Old school Retireholics, no fucking guest. No offense, Matt. Sorry. And we'll be. We'll be kicking it old school. So that's going to be fun. And thank. You. [1:02:31] Matthew Jackson: Never heard a single one of her songs. [1:02:33] JD: What? Yeah, you've heard one of her songs. [1:02:37] Chad: Dude, I know. Meet you downstairs.