Why You Should Have Couple Finance, Chat With Kurtis Hanni

Yasi: Today, my guest is called Kurtis and he is a CFO of a small business and a personal finance coach. And he has always been obsessed with his own personal finances. And that expanded when he had an opportunity to coach others through teaching Dave Ramsey’s classes. It sounds already very interesting. I have propelled so many questions on this topic and after a few years of doing.

And he knew that personal finance has become very important. And then beyond that, he started a podcast and on the podcast, he is passionate about specifically on the topic of couple finance and he wants to help people to honestly, Better and have money conversations with our partners. And today I’m so happy to have Kurtis on the show because it has been long overdue.

I know you’re very busy, so welcome to fast track podcast, Curtis, 

Kurtis Hanni: Thanks for having me on.

Yasi: And let’s start from the very beginning. At what age you started to gain interest in personal finance and you are aware that you need to, you know, manage your money smartly. .

Kurtis Hanni: So I grew up and, um, my mom was actually a CPA.

And so from a very early age, I was exposed to, um, and I just saw the way that they handled money. And so when I got out on my own, um, I actually can look back. My uncle and, uh, his wife for, uh, Christmas presents and birthdays, they would always give me, uh, like savings bonds, you know, where you get an interest rate and all this.

And so it was like from a very early age, I had this idea of investing just really, you know, drilled into my brain. And so whenever I got on my own. Unfortunately, I probably wasn’t as focused as I could have been like a, you know, young, 20, uh, you know, 20 to 22 year old. Over a period of time, you know, I, I ended up and just was very passionate about it.

Um, and so while I didn’t save as much as I probably should have, I was always aware and it was always a part of, you know, just, just, um, I was always budgeting and doing things like that. And so, um, I then got the opportunity, uh, like you mentioned the intro to teach some Dave Ramsey classes. And so I.

Before I just kind of been doing my own thing, you know, not really paying attention to what other people were doing. And then I, through teaching that kind of dug in a little bit more and kind of developed my own opinions. Cause once I was. Tasked with giving it to other people. It kind of helped me frame out some of those opinions.

And so that’s kind of where it was just kind of downhill for me with that point of then becoming like, super passionate about it, seeing how much people struggle with it. And then I guess that’s how I ended up here today. 

Yasi: So, And, um, what did you do with the gifts that you received the bonds? 

Kurtis Hanni: So we, I think it was when I was in college, we went and we cashed them all out and we put them into, um, into an investing account and, uh, put it into some, you know, mutual funds, uh, back in the day.

And, and it has it grew. And, and then, um, I still have that account. Um, I don’t remember. I don’t, I wish I could remember and see like, go back how much it was that I got from that and what had grown to now. But it’s just cool knowing that that was a piece of piece of my story. So, 

Yasi: so we put that to investment accounts.

Do you do it with your parents? 

Kurtis Hanni: Yeah, it was with my parents at that point. Cause it was like when I was still living with them. So they, they, my mom took me down there. I still remember like being taken down to the bank. And meeting with the guy who told us, like, here’s what you can invest in and we made decisions.

Yasi: And so, yeah, I like still can picture that day in my mind. It’s kind of funny. That’s a very good decision. Cause I know, um, another type of story is the parents have been saving for the children, uh, through a mutual fund. And then when they turned 18 years old, you know that the kid receive a large lump sum of money and either 18 or 21 in the straightaway.

Um, the kid bought a new car. So you still have your investments from back then. 

Kurtis Hanni: I do. Yeah, I didn’t, I didn’t go buy anything with it. I left it, it was in my mind it was an investment not to be touched. And so, um, like I don’t think it was huge amounts of money. Cause I don’t, you know, uh, you know, you think $50 or a hundred, you know, per birthday for 18 years.

So it’s not like it was like some crazy some, but you know, when you look at compound interest over that period, uh, when I get to retirement, it’s going to be, you know, there’ll be a huge help. 

Yasi: then, um, I’m very curious, like about the Dave Ramsey class, how did you get yourself involved in coaching people in Dave Ramsey’s class? 

Kurtis Hanni: Yeah . So I had, I have listened to his stuff before, so I was aware of his stuff and, um, the, the church that I go to, they were looking for someone to teach them.

And I, and I was kind of voluntold, you know, I didn’t exactly volunteer, but I didn’t say no. And so when someone asks me about it, I was like, yeah, that sounds kind of fun. And so then. Um, I did that. And so there’s like a, you had two different semesters. And so we had classes for a couple of, we did it for a couple years and I found the further I got into it, the more I was thinking, well, I don’t agree with this piece, or I don’t agree with this.

And like, you know, and so, um, but in that you get to talk to people about their financial situations. You get people from. Newly married couples to single, you know, young, you know, 18 year olds, all the way up to people that were in their upper fifties, that didn’t really have any retirement. And so you’re dealing with everything across the spectrum and you get the opportunity to have conversations with them about their money in ways that you wouldn’t normally get to in a day-to-day situation.

So, um, I enjoy teaching them because I realized at that point, like I enjoyed talking about it. I enjoy. Like a lot of the, um, you know, helping people with their decisions and just better understand it. And it was kind of the first time I realized not everyone had the education that I had. I before I just kind of assumed, like my experience was normal.

Like we tend to do, you know. Yeah, exactly, exactly. And you realize that. And then you’re like, well, shoot, I need to do something with this. I need to help. And I need to share this with people. And so that then, um, transitioned into. The guy that, that had, had got me started on it. He had some stuff he didn’t agree with in that as well.

And so we talked well, let’s just, I’m just going to create my own curriculum. And so I kind of worked on that and started teaching that a little bit. I’m not doing those anymore, uh, kind of a COVID, um, hazard, but, um, but yeah. It was a good experience. And, um, you know, I know Dave Ramsey is a hot button topic everywhere, uh, for various reasons, but, um, it was a good starting point for me.

Yasi: Hmm. I want to, what are the points that you don’t agree? Can you name some 

Kurtis Hanni: well? So some of it is some of it’s just his demeanor, the way he appeared, the way he approaches certain things. Um, and then, uh, you know, definitely when he came up and. Uh, he talks about paying off your house. That’s a great decision.

Uh, you know, if interest rates are really high, but when interest rates are super low, uh, that, you know, that may be the right decision for some, but it’s not just this cut and dry, like this is what your next step is. Um, his. Uh, he wants everyone in mutual funds and claims that you can get the best returns.

Well, that’s always looking back, that’s not looking forward, you know? Um, and so it’s impossible to make those picks on the front end. And then kind of my final straw, I guess you could say is, you know, Um, in the U S with, um, with COVID, they had some, um, you know, business relief that businesses could have taken advantage of.

And he was telling businesses to not accept the money, basically the government’s going to trick you. And, and so you had businesses that were on the verge of going out of business that are taking his advice to not take the money and you’re hurting families. And. Those business owners. So it’s just, he, he’s just, I feel like he’s kind of, he has some good basics, but he’s turned into more of a shock jock, which they kind of tend to.

And so I feel like in some ways he can do harm more harm than good, but for people that are just starting out, um, he’s really good at getting people motivated. And so. You kind of, uh, I’m not gonna curse at anyone that’s choosing to start there, but I think there’s, that’s kind of the beginner entry level, you know, and that’s kinda the, you know, there’s so much more than that and there’s, there’s so much, uh, better things that you can learn from.

Yasi: Yeah. When I asked you this question, the first thing came to my mind. I was thinking is that I remember he mentioned that buy your house with cash or by your house without mortgage. Um, I didn’t understand why, why not? Using leverage. It’s one of the best leverage. You can get to buy a house.

Kurtis Hanni: Yeah. Well, Andy, Andy then says like, well, it’s you talks about manual underwriting and you can definitely get that done, but it makes it hard. Because it’s a lot more work on both sides and there’s not a lot of people that do that. And as stuff becomes more and more automated, it’s kind of an outdated system.

And so, you know, he, he makes the comments of like, well, no one ever got rich off of credit card points, but you know, credit card points can be helpful if you know how to do it. So the rule that I came up with in that class, as I said, Listen, I’m not going to make you cut up your credit cards like he wants you to do.

Um, but if you have ever missed a payment and had to pay a late fee because you overspent or because of whatever, you’ve already proven, you don’t have the self-control. So you need to, you need to cut up your cards, but if you have never missed a payment, if you’ve always paid in full. I’m not going to tell you, I don’t know that that’s the right advice for you, but if you, at any point, you know, missed it, other than just stupidity on your part, you know, of just, you know, forgetting like, I, I did that once I got a new card, I forgot to set up auto pay and then I realized, and so that would have waived the fee and all that.

But, but if it’s, you know, you’re gaining interest because you can’t pay off what you’ve paid, then you’ve shown you don’t have. Um, the self-control it’s like, it’s like any other addiction, you know, alcohol alcoholism or whatever. If you’ve been an alcoholic, it’s not smart to be around alcohol. And so that’s kind of the, the comparison I make, uh, with credit cards.

Yasi: Um, um, I know credit score is very important in the U S right? And then you can use credit cards to boost up your credit credit score. If you know how to use a smartly. Um, and then what is your personal, um, as in money mindset or how you approach your personal finance? 

Kurtis Hanni: Yeah, I, and this is, this is more than just like money for me because I I’m very big picture oriented.

And so I start out with a high level of like, what are my values and what do I want to accomplish? And then I’m just the, the word that I always come back to is living with intention and being very intentional about all the decisions you make. And so I’ve always been someone who questions, things, and I’ve always been someone who wants to research.

And so for me, that means. I want to know why I’m doing everything. I just don’t want to take the conventional wisdom that’s out there and just go with it. So I want to, um, know the justification for the decisions I’m making and be able to explain that to, to my wife or whoever else that I’m trying to explain it.

Yasi: Can you give us an example in the context of how you approach money, that the way you’re the intentional way of leaving? 

Kurtis Hanni: Yeah. So, so another, like a good example of that is like right now, I’m kind of, re-evaluating what my allocations are for. You know, what I put in stocks, bonds are now cryptocurrency being a part of that and it’s like, I’ve always, you know, I, for the longest time it said, well, I’m not going to do cryptocurrency because it’s speculative it’s this or that.

Um, but over the last. Year, really I’ve been on a journey of kind of re-evaluating what I feel like is, um, is, is a value. And so what that means for me is, you know, I’m a big time reader, so it means me I’m going and picking out books and learning about these concepts. I’m learning about, you know, some like emerging emerging industries or I’m learning about, um, You know, learning about the, you know, Bitcoin and what that means.

And, um, you know, what that means for the world and for finance in general. And so it’s like, it’s it just, it’s studying these things. And then, um, I’m in the process of like writing up. This is the reason that I believe this so that I have that for, um, for my wife and family to pass on, if they’ll understand why I made my decisions.

So to me, that’s like what that intentional process looks like is it’s, um, kind of being willing and able to question what you, the assumptions you’ve even made in the past and, and just try and validate those with data or, you know, by learning from other people about those things. 

Yasi: Yeah, exactly. So you’re conscious about your own decisions?

Not that you, you heard it from somewhere, you read it from somewhere, right? For the benefit benefit of our audience. I want to touch on the basics of personal finance. Did you ever make a budget for your family, um, expenses or you already know. Um, how much you need to spend for each category since you are aware of where your money?

Kurtis Hanni: No, we, so this, this is another deal, like super intentional about how we spend our money, because, um, before I got married, I didn’t necessarily keep a budget because I was a single guy in my, my spending, you know, I wasn’t, I wasn’t buying anything. Like anything for myself. So it was food, housing, you know, gas that was extended my, all my expenses.

Um, but when we got married, so I’ve been, we’ve been married for nine years now. So, um, when we got married, um, we drew up a budget and today, uh, this is not necessarily right for everyone, but, um, we. Have a detailed line item budget where every subscription we have has a budget line item, like even down to, um, we have recurring expenses like with all of our toiletries and all of like her makeup and all these things.

And we have all these things like itemized out because I view it as like, anytime that we’re making a different decision. You know, we’re making a trade-off and so we want to be intentional about what trade-off we’re making. Um, now that’s not to say we don’t spend any money because you know, we’ve, uh, A reasonable amount of money for both of us to have, and just general spending that we don’t track, but for the stuff that’s, uh, that’s a part of our, um, you know, monthly, yearly stuff.

Like we have, I have spreadsheets with all the people we plan to buy gifts for, for the year, with every subscription we’ve had with all of those things. And so it sounds super intimidating, but it’s been a multi-year process. It’s not something that we did overnight is did. It’s something that we’ve developed.

Over our whole whole relationship. Um, and so it’s been super valuable because it’s helped keep us on the same page and help us understand and talk a common language. 

Yasi: And is it easy for you to get your wife on this journey? 

Kurtis Hanni: Yeah, it wasn’t, uh, it wasn’t at first, but I found what changed all of that as I did the typical thing that a finance nerd will do of just go at them with the spreadsheets and say, well, look, this is, if we do all these things, it’s going to, you know, it’s going to be great.

It’s going to, we’re going to have all this. 40 years from now. Like we just need to buckle down and, you know, do this or do that. And, um, we had fights initially, like it was tough because it was like, you know, it did not, um, it did not make sense to her and like, well, in her, in her head it made sense, but then it was hard to translate that into day-to-day stuff.

And so what really changed it for us is about three years in our marriage. I said, Uh, we sat down and we said, okay, like, what are our actual goals for? What is it, our five-year, what is our 10 year? What does that individually? And then what does that as a couple and how do we merge those two things? So now that we’ve had, so just to be more practical, She’s had this dream of, she wants to go back.

She’s a freelance writer and editor. And so she wants to go back to school to get her master’s because she wants to ultimately teach at a college level. And so in her mind, she just wanted to go do that. But I’m thinking, well, this is what get this money we’re spending. If we invested this money, like, you know, this is going to be so much worse, so much here in the future.

So when we talked about that, we said, well, 15 years from now. I don’t want to be working the same type of job I’m working. So what, what does that mean for us today? And for today, that means that, um, we need to be really focused today. And when we talked about, you know, her goal of being a teacher, her thinking was, well, yeah, I want to do that, but we want to have kids.

So. Um, it’s not going to be realistic when we have a baby in the house for me to be teaching at a college. So she’s like, well, that’s really probably a 10 year down the road. So then it helps reframe all of those decisions. And then it allowed us to then look at the budget. And then I was able to communicate the budget to her in a way that made sense with what she said her goals were and what our family goals were.

And so that was something that was groundbreaking for us is as you back out of that, And, and have a broader discussion and you’re not actually talking about the money and it’s only after you get on the same page that you then circle back to the money. 

Yeah. I liked that because everything starts with the why.

Yasi: Right? You understand why you want to achieve certain things. And then what will you need to do to achieve your why? And then you can show who you expression.

Um, and then would you mind to share with us, how is your investment portfolio look like? What’s your investment philosophy? 

Kurtis Hanni: Yeah. So, so right now I, you know, I’m, I’m, like I said, I think you’d mentioned I’m CFO of a small business, um, civil engineering firm. And so, um, I, we have the very traditional she’s a freelancer.

And so, um, I’m we have an HSA, which is a, you know, health account here in the U S I don’t think they’re the same. Um, and you’re up, but, um, where we put money in pre-tax to that, and we put money into a 401k, and then we have a Roth IRA, which is post-tax. And so we’re, we’re stacking money away in that, in that front.

And we are pretty much about 60% us, 40%, um, international. And then. Uh, we are allocating, we’ve actually gone from, we were allocating previously 5% to cryptocurrencies and we’re actually now up to like 15, 20%. Um, so pretty significant in that. And so my philosophy is in that as I, what I did is I ran the numbers for us.

And I said, based off of the retirement that we’re doing now, even if all of this went to zero, which I don’t think it would then. Um, we would, based off historical returns, we would be okay to retire at 65. But if, if this, you know, cryptocurrency stuff, pans out and, and just based off the research idea, I have a belief in it, you know, I, don’t not going to try and tell anyone else what their beliefs should be, but that, that could take, you know, I’m 35 right now.

So that could take our timeline to where we’re able, I’m not having to work this nine to five. Uh, at 40 or 45. So to me, there’s not really a sacrifice that I’m making. It’s just a, it’s a bet in a play that I feel like. So it’s, we’re taking pretty substantial risk in that, but it’s, it’s a risk that, that I’ve, that we’ve modeled out.

And so when I come to that, it’s pretty different than what my philosophy was before, which was. Stick it in index funds and don’t, you know, don’t think about it, but, um, but I’ve been able to, over a period of time, we’ve had a lot of discussions and been able to get on the same page with that. And, um, so I guess that’s kind of, kind of my philosophy right now.

Uh, that’s what I was saying. I’ve been kind of revisiting that and re reworking through that. Um, And, um, I forget what the other part of the question was. So portfolio, yeah.

Yasi: Yeah. Do you invest like, you know, real estate, precious metals? Or do you have some other exotic investment vehicles? 

Kurtis Hanni: Oh yeah. I mean, we’re strictly stock market in cryptocurrencies. We, we may in the future, uh, want to get into real estate, but, uh, physical real estate. I, we kind of, the crypto is actually taking part of what I’d originally planned for real estate.

Um, just because I look at my time investment and I know that I can solve a lot of that stuff out, but, um, you know, and have people do the work for me, but it’s still a mental and time suck on that front end. And so, um, I made the, made the call. You know, I believed in where, um, you know, Bitcoin and Ethereum and these other crypto projects are going and, uh, decided to make that bet into that.

So I’m strictly stocks. Um, we are. Like I said, sub 60%, us 40%. And those are, those are purely index funds. Um, and then, um, and then the cryptocurrency being 20, about 20 to 25%. So 

Yasi: lovely. For sure. My audience have already heard so many interviews till now, because oftentimes I’ll ask the question. What is your investment portfolio like?

And most of my guests, almost everyone talk about ETFs. Right? So that is one thing I also want to. Help the audience. And certainly, but more like investing in not so complicated, even like CFO, you know, you must ETFs. That’s simple as that. 

Kurtis Hanni: Yeah. And the thing is, is like, obviously I’m making a play with cryptocurrency where in some ways I’m saying like I’m smarter than what history is, right.

Because, um, I think in the stock market, anyone who thinks that they’re, you know, that they’re able to beat, you know, what, uh, what a, you know, pure ETF or index fund is, is in fooling theirself in most cases, because it’s, um, there’s a lot of smart people that do it full time. And you’re saying as a part-time investor, you’re going to do better than, than those people.

And. Even those people have a really poor track record. I mean, there’s all sorts of stats out there that show that. So, so yeah, it’s, it’s almost a fools. It’s almost a fool’s errand. And then that’s why I view, that’s why I view the crypto piece a little bit separately as well. I’m making a bet. I’m making a measured bet for where we are in what, what our goals are.

Yasi: So my last question would be about. Delve into money, which is your podcast and also your ebook. Right. Um, tell us a little bit more about it. Why you are interested in a couple of finance topics. Specifically 

Kurtis Hanni: I’ll delve into money was, is not actually initially geared towards. Marriage and money. It was originally, it’s originally geared towards I’m a big time reader.

Um, I read like in 20, 20, you know, pandemic and everything, like I read over a hundred books in 2020. So like I li when I say I’m a big time reader, I mean, like I would read for hours on, you know, on every day. And, um, and so I wanted to merge kind of, I wanted to look at personal finance. Through the lens of non-personal finance books.

And so that kind of started that started that journey. And then, um, it kind of goes back to, we have people that we’ve talked to about their personal finances, and I just kept having these questions and, and discussions surrounding. Um, money within a marriage. And so I’ve, while I’m still doing that with the basics of the podcast, I’ve kind of added this element of money and marriage.

And so, uh, back and at the end of October, I released an ebook. That’s like a five-part framework that walks you through. Um, with your spouse, uh, basically how to get on the same page, how to improve your money conversations. Because I think that’s where most of us struggle is we just don’t know where to start with that.

And so the first part of that is. We, we want to understand our, our spouse’s money background. And so there’s some questions and there’s, you know, you can pick and choose what questions you want to talk about with your spouse. And then it goes into kind of what I was talking about being, uh, talking about our values and our goals, and then it finally goes into a budget segment.

And so it’s, it’s trying to create a framework for spouses to talk about money when you have one that cares and one that doesn’t because. When I say, my wife cares about our money now she’s still not in our budget. You know, every week I’m in our budget every week. But when we meet, we try and meet on a weekly basis and I use weekly loosely because it’s the plan, but it’s like, we’ve been really bad about it lately.

Um, but it’s when we’re having those conversations were. We’re we’ve already set a big picture plan. So we’re just able to check in and it becomes almost just a routine, a really easy thing. And we, I give advice in there too, like how to make it fun, you know, in those meetings too, because it’s just, you know, it’s not something in a marriage, even if you have a good marriage that it’s not like anyone’s getting jazzed or thrilled to talk about their money, you know, and, and have those conversations.

So, so that’s, um, that’s kind of where I’ve been focusing on since then. And, um, Plans in 2022 to kind of continue on that. I’m trying to get together with, um, uh, couples and, and really kind of work through it with them so that I can even refine that even more. Because I think when I look at the resources out there, Um, not very many of the, they all just go straight to the budget.

They all go straight to the money. And I just don’t think that’s super helpful. Uh, when you have one, one person that’s not on Bluebird, you know, which is generally the case, there’s generally a disconnect there. So that’s, that’s kinda what I’ve been working. 

Yasi: I really liked this topic. Also, you are doing a great job because even for financial education, not many people get that.

Nobody gets this from parents. Okay. So you and a few others and the, you don’t get that from school. So starting point is, you know, even someone started to get interested into educating themselves with personal finance. And then when they get married, when they have a partner, how can they get their partner on board?

Right. So sometimes. two people they’re in the marriage, but their finances are not aligned even though they’re in a marriage. But if two people that are together of this journey, even the financial journey together, they can build a much better financial future, which can fulfill their dreams, what they want to achieve in life.

Like you said, retire early or do further study or go on work. I really recommend, you know, my audience, if you are listening, you got interested in this topic, check out, Curtis, social media, check out his ebook. Maybe you could share with us your platform where they can find you.

Kurtis Hanni: Yeah. So the website for the podcast, which is where you’ll find the money and marriage is going to be, uh, delve into money.com. So that’s pretty easy. And then, um, my main thing is, as I’m on Twitter, I’m on other stuff, but Twitter is just really where I live. It’s, you know, so if you want to actually connect with me, Twitter is a great, is the place you want to be.

And, um, my handle on there is. Um, Curtis it’s Curtis with a K and then Hani H a N. And I, and I’m assuming as a, you’ll put that in that stuff too, so they can just click on that link. But yeah, I love to have conversations. Don’t hesitate to reach out and, you know, DME, if any questions or concerns are. And, um, yeah, I’m, I’m really passionate about this.

It’s a super important, cause there’s nothing more powerful than a couple working together. To then be able to achieve just crazy stuff. It’s just so much easier when you got someone with you, because you can just, you can just, just multiply the effects. And so, um, I’m excited, uh, just to already hear the things that I’ve heard from people that have seen it and.

And excited to see what’s the what’s going to be the long-term result of this. So thank you so much for, for letting me talk about that. 

Yasi: Um, I’m glad to have you here, but before letting you go, I have one last question. What is the biggest money mistake you have ever made in your life?

Kurtis Hanni: Oh gosh, you don’t want to ask this question.

So this is, it’s a little bit of a story, so I’ll try and make it. I’ll try and make it short because some of these details are not important, but basically me and my wife, uh, we saw a house that we wanted and it was, uh, It was in a cool neighborhood that we really liked. And so, uh, here in the states, if people don’t, you know, if homes get foreclosed on, they do sheriff sells.

I don’t, you know, I don’t know what those would be called elsewhere, but so you go down and you have to go to an auction style sale to try and get this house. And so we decided we were going to go to the Sheriff’s. Yeah. And, uh, and so we get there and my dad went there with me to kind of just be support.

He just wanted to see what was going on. Cause neither of us had been to one of those before. And, um, The first mistake at that Sheriff’s sale is I didn’t look at the sheet telling us which number ours was going to be. I let my dad do it. And he said, well, it’s going to be the fourth one up. And so I listened to him.

And so I bid on this fourth one up and I, uh, I get my, uh, I actually win it in. So I’m pumped up. So I go to call my wife and I realize when I get to the back and I look at the sheet, I realize I just bought the wrong house, the house that we had no plans on buying. And, uh, actually the auction is not at house.

Not even though it’s like a bunch of houses being sold at one time or being auctioned at one time. So it was like, it was the fourth. In the auction out of 20 or 30 houses. And so, um, I managed to bid on the wrong one and buy the wrong one. Thankfully I was able to get out of the contract. Um, but then while we were there, my dad, um, decided he was going to bid a bid on a house that he been looking at and ended up getting that house.

So I went in on him with that and it was a good experience. But, and I can actually send you the link actually told this story, uh, to another guy, uh, Stephen wealthy on Twitter and it’s on his blog, but basically, uh, we made a little bit of money on the house, but to do that, I took money out of my Roth IRA.

And, um, the, the stock market returned more than what we made on our. That we made on the house. And then because of the rules with the Roth, I wasn’t able to deposit money. And so it’s a multi hundreds of thousands of dollars mistake by the time we get 20 years down the road. So that was definitely my biggest mistake.

Uh, it was a big learning experience, but we were too optimistic and thinking we could turn the house around quick enough that I could put the money back in. And that was not the case. Well, so I’ll send you the link and you, can you get it’s an interesting, yeah, it’s I don’t remember the math, but it was, I hadn’t done the calculation until, till Stephen wealthy asked me about it.

And then when he asked me, I just cringed. 

Yasi: Okay. It’s okay. Don’t don’t, don’t use the compounds of this part otherwise. Right? Right. Exactly. Alright, thank you so much for sharing the story. And also lesson learned is that if you’re going to make important investment decision or purchasing expensive assets, uh, be careful about what you’re doing.

Kurtis Hanni: Yeah. You, you, we should have done more planning than what we did for that. And that was clearly a lesson well learned, but you know, I, I think. You know, it’s, it’s a fun story to tell now. And it’s an interesting story, but, in the long-term, if you stay consistent, you can overcome any mistakes and we’re going to make mistakes, no matter how educated we are, you know?

And so, uh, it’s just keep plugging away really. 

Yasi: Yeah, I love what you just said. If you stay consistent, you can overcome any mistakes like that. time and compound effects to, to catch up that for you. 

Yeah. Yeah, for sure. Thank you so much for being here, Kurtis. 

Kurtis Hanni: Yeah. Thanks for having me on. I enjoyed the conversation.