Your Future Is Showing Its Age

Our 2 Cents – Episode #266

Your Future Is Showing Its Age

Our 2 Cents is back with a new episode to brighten your commute, workout, or dog walk! Today, we’re asking the big question: What would you trade for a longer life? (No spoilers, but people are willing to give up a lot.) Plus, we’re breaking down our September planning calendar, why sports betting is quickly growing, and getting a little personal with Steve and Gabriel. Grab your coffee, plug in your earbuds, and let’s dive in!

1. The Cost of Living Longer:
   • A recent National Geographic survey revealed what Americans would be willing to give up in exchange for a longer life. Can you guess the top answers?
2. September Financial Focus:
   • Steve and Gabriel dive into long-term care planning, breaking down key strategies and essential considerations for your financial roadmap.
3. Sports Betting on the Rise:
   • Why are some Americans starting to view sports betting as an investment strategy? We examine the trend and look at who is participating the most.
4. Getting to Know Steve and Gabriel:
   • What’s your go-to comfort food?
   • What’s the hardest decision you’ve ever had to make?

Request Your Free Consultation Today
847.499.3330

Podcast Transcript

Announcer: You’re listening to Our 2 Cents with the team from SGL Financial, building wealth for life. Steve Lewit is the President of SGL Financial, and Gabriel Lewit is the CEO. They’re here to discuss all the latest in financial news, trends, strategies, and more.

Gabriel Lewit: Well, good morning everybody, good afternoon, good evening. Welcome to Our 2 Cents. You’ve got Gabriel Lewit here and Stephen Lewit. We are back for another terrific, hopefully excellently amazing episode of Our 2 Cents.

Steve Lewit: You know what else is back, Gabriel?

Gabriel Lewit: What’s that?

Steve Lewit: The Bears are back and the Giants are back.

Gabriel Lewit: Well, the Bears are certainly back. If you happen to be a Bears fan, it was a good game last weekend. I hadn’t honestly followed the Giants at all. I know that’s your team. Did they do well?

Steve Lewit: Well, they beat Dallas, which was supposed to roll over them, and they played really well. I’m excited.

Gabriel Lewit: Well, whatever team you support, we’re hoping that they won, although that’s probably impossible for everybody listening because half the teams have to lose on a given week. But nevertheless, we are wishing your team well.

Steve Lewit: Gabriel, I have another very important piece of news.

Gabriel Lewit: What’s that?

Steve Lewit: You and I both got killed in the fantasy football pool.

Gabriel Lewit: Yeah, that’s because I didn’t even look at it, which is not how you’re supposed to play fantasy football. Well, this will definitely be a switching of gears, but the Fed approved an interest rate hike yesterday, and that, of course, is not happy news to most people because most people were already complaining about interest rates and mortgage rates. Although if you do have money in CDs or fixed interest rates, you’ll get a little bit of a boost there. But it’s a sign that there’s some uncertainty still about the economy, right? Inflation is still ticking up higher and more elevated, is really what the committee said in its post-meeting statement. And the hope is to try to get inflation back to the committee’s 2% inflation target goal.

Steve Lewit: Yeah. I feel like we’ve played this record a few times before, but yeah, inflation ticked up. It got a little bit out of hand, and they want to get it down to 2%, which I don’t think that’s coming anytime too soon. It came in, I think, at 3.3. So they’re raising interest rates, and long-term interest rate, treasuries are almost over … They were over 5%. I don’t know where they are today. You cut inflation, but now borrowing becomes more expensive for not only the consumer, but for businesses, and you could see a tightening in the economy. A lot of it has to do with oil with this war, non-war that we’re in, so we’ll see what happens.

Gabriel Lewit: Yeah, absolutely. So in essence, nothing too crazy to immediately rush out and do here, folks. It’s just been a while since we’ve had a specific update to provide to you here. So just keeping you in the know and making sure that you’re keeping tabs on this world of inflation and interest rates and all of that really fun stuff.

Steve Lewit: The most interesting stuff in the world. No, it isn’t.

Gabriel Lewit: It most certainly is. Okay? Well, other things we’re going to talk about here today is long-term care as part of our financial planning calendar of the year. So as you recall, if you listen to our show regularly, throughout each month, we have been talking about various financial planning steps for you to take to get your financial affairs in order. And instead of giving you, again, a gigantic list at the start of the year and saying, “Go get them, tiger,” we are parsing these out month by month and giving you a couple of small monthly homework assignments and hoping that you actually take action on these smaller bite-sized pieces.

Steve Lewit: In your words of wisdom, we’re eating the elephant one bite at a time.

Gabriel Lewit: That’s it. One small bite here. So this month’s topic is long-term care, and it’s essentially understanding what this world of long-term care is, if you have long-term care needs, if you have long-term care policies. We’re going to dig into that here today in more detail. And the good news, if you’re a younger client, you might get a month without homework. And just like when you’re in school, when you get one of those days or weekends where the teacher doesn’t assign you homework, you celebrate, raise your hands, and cheer. But for those of you out there that are maybe 55 plus, these would be topics on financial planning that you’ll want to pay attention to. All right.

Steve Lewit: Well, I’m going to differ with you a little bit, Gabriel, because if you are a younger client, you may not need long-term care, but your parents might. So this is a subject that we think you should be aware of even though there’s no homework.

Gabriel Lewit: Yeah, that’s a good point, too. Good point, too. Now, before we get into that, we’re going to talk about a couple other odds and ends here, and then we’ll end our show here with Roth conversions and something called IRMAA, which we do talk about throughout the year, but we’re going to specifically focus on IRMAA today, which is an acronym, I-R-M-A-A, Income-Related Monthly Adjustment Amount. It’s the acronym that nobody wants to ever encounter, and we’re going to explain what that is, why it matters, and this is the time of the year to start really thinking about Roth conversions if you haven’t already. So we’re going to dig into that here a little bit as well.

Now, before we get into the meatier topics, long-term care is all about what happens when you age and you need care. Well, before we get to that, there was an interesting article here that was talking about what would people be willing to do to live a longer life. I don’t know if you saw this one here. No, but-

Steve Lewit: So as a listener here, I’m interested because I want to live a longer life.

Gabriel Lewit: Yes. Well, it’s from National Geographic, and it said this is what people claim that they would give up for a longer life. So National Geographic surveyed a thousand US adults, and about 64% to 65%, which I thought was a little bit an interesting statistic here, would choose a shorter life if it meant that their remaining years were free from physical and mental decline rather than living longer with age-related frailty. That was kind of interesting. A high percentage of people said that how they live is more important than how long that they live. 61% said they would choose to pause their biological age at the specific year if that were possible. So that’s interesting that 39% said that they wouldn’t want to do that, meaning they’d be okay just aging.

Steve Lewit: Gabriel, if you have the option of freezing your age, let’s say at 31, would you want to do that?

Gabriel Lewit: I think if I had the option of freezing my age, sure. I would pick an age and freeze it. Maybe for a while, if I could freeze and unfreeze it, that’s cool.

Steve Lewit: Yeah, maybe I’ll stay 31 for 10 years until I’m 31.

Gabriel Lewit: And then you wake up the next day and you’re magically 41, or you just start over at 32 at that point, right?

Steve Lewit: Yeah, 32 probably, right?

Gabriel Lewit: 39% of people here said that they wouldn’t spend money on anti-aging tactics at all. And then 72% expressed concern about the risks of emerging longevity technology.

Steve Lewit: Well, what’s interesting about this is that everybody views aging … We kind of think everybody sees the world the way we do, but it’s clear. Some people say, “Aging is part of life and so be it. And I’m going to age, and that’s what nature does.” And other people want to stay 25 years old.

Gabriel Lewit: Yeah. Well, this was interesting. A third of respondents said that they would give up alcohol forever if it added 10 healthy years to their life, and 15% were willing to ditch their favorite food if it were to do the same. And then again, nearly 20% of respondents said they wouldn’t change anything at all for extra years. They would not be willing to give up anything at all for extra years.

Steve Lewit: Yeah, I want to live my life no matter what.

Gabriel Lewit: Yeah, no, you see that sometimes. I know someone that’s a smoker, and if you talk to them, they’d say, “Nope, I wouldn’t give this up even if I live 10 extra years or 15 extra years.”

Steve Lewit: Well, you know what? The first thing that came to mind for me is I said, “Okay, what if I …” The first thing that came to mind is will I have to give up my blueberry muffin that I eat every day to gain another two or three years at something? And would I do that? I don’t think I would give up my blueberry muffin. That’s very important to my day.

Gabriel Lewit: Well, if you asked me if I’d give up coffee, let’s say they came out and said that coffee reduces your lifespan by 10 years, I don’t know, man. That’d be a tough one. That’d be a tough one.

Steve Lewit: Yeah. 10 years is a long time. Yeah. But there’s no guarantee on it. That’s the problem.

Gabriel Lewit: Yeah, no, I think studies like this are interesting, but yes, the problem is they’re all hypothetical because if there was data that definitively said this, maybe people would do it. But even then, there’s a lot of data that says smoking is definitively bad for you, but people will still do that. So yeah, as you said, everyone’s a little bit different in how they approach this and what they would or would be willing to give up or how they view or don’t view the frustrations or challenges of aging. And so I just thought that it’s interesting, and it ties nicely into this concept of long-term care because as we talk about long-term care, which we’re going to get into here and shift into, everyone has a different opinion of what they want and how they want to be taken care of when they’re unable to take care of themselves. And-

Steve Lewit: Absolutely, yeah.

Gabriel Lewit: … some people refuse to even admit that they’re getting older or that this would be a possibility and just push it back as far as they possibly can. Others will openly communicate with their kids and say, “I hope if I can’t take care of myself, son and daughter, that X, Y, or Z will happen.” And others are more than happy or even looking forward to living in a retirement community or somewhere where they’re around other people that are in similar scenarios. So it’s a very broad spectrum. And as we talk more again about long-term care here today and what that means and why it’s important, just something to keep in mind here about aging and how you view it, it could impact your finances here as well.

Steve Lewit: Yeah. I think everybody wants to live longer, but living longer and how you live and where you live and who you are and what floats your boat is, there’s no right or wrong in this. It’s who you are. You want to move into a retirement community, and that’s who you are. That might be good for you. It might not be good for Joe or Mary next door because they’re different people. But it’s a complex subject, and you’re right, Gabriel, most people do not want to have an in-depth discussion about aging itself and especially about aging and if you develop some kind of illness or dependency when you age. It’s like, I don’t want to talk about it.

Gabriel Lewit: Yeah. Well, and that’s I think the number one point here on our September financial planning topic of long-term care is understanding what long-term care could look like because there’s lots of different types of long-term care. There’s assisted living, of course, is one type. There’s in-home care. There’s a thing, believe it or not, called adult daycare. There’s all sorts of different types, and as you understand them all … And then there’s a true nursing home. There’s one where you really physically can’t take care of yourself at all and you have a need for someone to take care of you and your kids don’t want to do it at their house, well, maybe you do need to go into a nursing home.

But there are lots of other types, and I think if you’ve never thought about this, my homework assignment for you in this financial planning month would be to start to think about it. When I’m too old to take care of myself, when I do get to that point, no matter what you do to extend that, what will that look like at that point in time? And if possible, my recommendation would be to start to dialogue and have that conversation with family members so that it’s not this last-minute stress and rush and, oh, there’s a game plan. There’s an action plan, there’s a strategy because it will come for all of us. Father Time does come for each and every one of us at some point, no matter how long we can extend that out.

Steve Lewit: Right. So I better make an appointment with you for next week to have this discussion.

Gabriel Lewit: By the way, yes, I’m not specifically referencing you here, but-

Steve Lewit: Oh, I thought you’re talking about me, son.

Gabriel Lewit: No, no, no. Just topic we talk about with all of our clients and … Yeah. Okay. So the other thing, so other than just thinking about it, the second key item here for our September financial planning topic is knowing and estimating what the costs will be. So here’s an interesting statistic here for you, but long-term care is expensive. So a recent study here from Kiplinger says that it can range from roughly $74,400 a year for assisted living to nearly $130,000 a year for a private nursing home room. So again, $74,400 a year to $130,000 per year, and it can highly depend on what area of the country that you live in.

Steve Lewit: Yeah, tremendous difference in different areas of the country. Here, I have a client in a dementia care facility, and it’s ranging about $130,000, $140,000 a year in that facility, which is a considerable amount of money. Now, the question, Gabriel, is how long will they stay there to try and figure out what is the cost of this? If I go into a nursing home, how long will I be there? And the average stay is three and a half years. So if you take 130,000 times three and a half, you got 400,000 bucks that has to come from somewhere to pay for being in a facility, which by the way, you want to stay at home as long as you can. You do not want to go into a facility or … Home is the best place to stay, and that’s still quite expensive.

Gabriel Lewit: Yeah. Well, that’s really, I think, at the core of this is understanding that it’s expensive and having a game plan for that. That does not mean we’re suggesting you must rush out and buy insurance. Long-term care insurance is one of the, of course, options for how to cover long-term care costs, but the other is saving, just like you’d save for any other goal or potential cost in the future, whether it’s a new car or a home repair or a new roof. But you do need to be aware of what these things cost and which option you think might be the best potential solution for you so that you can have a financial game plan in place for how you’re going to handle that.

For many of our clients, for example, especially the ones that choose not to buy insurance, the general gist is if you have a long-term growth bucket with a couple hundred thousand dollars in it, you can’t really go and spend that because that’s the bucket that’s earmarked for possible future long-term care needs. That’s called self-insuring, and the concept is making sure that you understand if you need, it’s there, but if you spend it all, it’s not going to be left over for beneficiaries for legacy because you’ve used it up for long-term care.

Now, that’s really the other part here of our September financial planning long-term care topic is comparing your funding options. So there’s long-term care insurance, as we just mentioned, there’s self-funding, which is just saving up for it, and then the other option is what we call asset-based long-term care. That’s a little different than traditional. Those are probably the most common, but traditional long-term care, you pay a premium towards. If you end up buying it, you’ll tend to expect those premiums go up frequently, which they do, and sometimes very much become unaffordable. And if you end up passing away and you don’t need long-term care, you don’t get any of that money back. An asset-based long-term care hybrid will generally require a bigger lump sum of money, but the premiums will often be fixed or built into the product, and then if you don’t use the long-term care, whatever’s left over gets passed to beneficiaries. Definitely becoming a bit more popular in the insurance world these days.

Steve Lewit: Yeah. Historically, just to bring people up to speed, so when insurance companies came out with traditional long-term care coverage, folks, they totally underestimated the amount of people and use of this particular insurance. And people went into licensed facilities, and the insurance companies couldn’t keep up with it. So there was a period of time when the rates on traditional long-term share insurance were going up 20%, 30% a year because the insurance companies couldn’t afford to pay the bills. And so that was very difficult time. A lot of people lost their insurance because they couldn’t afford it or they had to cut back on what it was. And then the insurance industry came out with asset-based insurance, which is basically a life insurance policy that converts to long-term care, and the premium never goes up, and it’s similar coverage. So that’s become very, very popular, which Gabriel just mentioned.

Gabriel Lewit: Yeah. So folks, that’s the world of long-term care. That’s the core. That’s as much as depth we want to get into in our September financial planning month. We want to keep this bite size for you. And your homework again is, well, as Steve mentioned, if you’re younger, talk to your parents, find out do they have anything today? What are their plans? Are they just expecting to move in with you?

Steve Lewit: Well, it’s interesting-

Gabriel Lewit: Maybe they-

Steve Lewit: Gabriel, what’s interesting about … I hear that a lot. “Well, my kids will take care of me.” Folks, folks, your kids don’t want to take care of you. I hate to break the news to you. I mean, some do.

Gabriel Lewit: Yeah, there might be a disconnect there, right?

Steve Lewit: Yeah, but-

Gabriel Lewit: Again, if you’re in retirement and you’re thinking about this for you, or you’re worried you’re going to be a burden for your kids, start thinking about this. Well, what do you do? The best thing to do is talk to us and we will, of course, make sure it’s built into your plan. And if you’d like us to run insurance options for you, to me, the number one way to understand this world is we have a meeting and we run a couple of insurance options to show you how they work, and then you’ll very quickly decide if you like the idea or if you don’t.

So if you have questions on that, you can call us, of course, anytime here at 847-499-3330 or email us info@sglfinancial.com, and you can set up a time to talk to us here about the entire world of long-term care insurance or really anything else that could be top of mind for you.

Steve Lewit: Another exciting topic.

Gabriel Lewit: Hey, the world of financial planning, if you view them all as boring, dull topics, I guess they’ll seem boring, dull, but we’ll try to make them interesting for you.

Steve Lewit: Yeah, I’m only kidding. It’s actually a very interesting area how they do all of this, but I won’t get into that today.

Gabriel Lewit: Yes. Now, for a little bit of fun here, and to make sure we got something for you younger folks, I’m going to reverse it. Here’s a topic that might be more applicable for you younger listeners, and if you’re an older listener, something for you to keep an eye on your kids about. So this one here is about the fact that one in five Americans apparently are calling sports betting an investment, and for Gen Z, it’s apparently twice as many, meaning two out of five Americans, 40% of Gen Z-ers are thinking that sports betting is a form of investing.

Steve Lewit: Yep. Yeah. Well-

Gabriel Lewit: And I’m laughing at that and pausing because it’s not.

Steve Lewit: Well, let me ask you a question, Gabriel. If I buy a stock betting that it will go up short term and then I want to sell it, is that investing or is that the same as sports betting?

Gabriel Lewit: Still, I’d say both are speculative, but there can be even in the world of speculative investments, a range of total betting to strategic betting, I guess, if you were to call it. So with the stock, there might be an announcement, there might be a big earnings report, there’s something else underlying it that could cause its value to grow. Whether or not the Bears did or didn’t beat the Panthers last weekend, that’s just going to be a bet.

Steve Lewit: So, one has total unknown. Well, Aaron Judge hit a home run today. There’s no rhyme or reason to it. He might hit four and he might not hit any for the next eight games, whereas the value of stocks and bonds are intrinsically based on earnings and the performance of a company. So they are quite different.

Gabriel Lewit: Yeah. And also, at the end of the day, there’s more similarities between sports betting and casino betting than there is anything else. And here’s the most striking similarity is that most people that are doing either of them are losing money. So Bank of America Institute said that across every generation they’ve tracked, on the whole, people are receiving 25% back for every dollar that they … Sorry, 75% back for every dollar that they put in.

Steve Lewit: Yeah. Well, it’s not a great investment.

Gabriel Lewit: So let’s put it this way. If you put in $10,000 over the course of the year into sports betting app, you’re prone to likely end up the year coming back out with $7,500, which is the opposite of a good investment.

Steve Lewit: Exactly. Well, Gabriel, young people are thrill-seekers, and thrill-seekers like thrills, and betting is thrilling, and it’s all over … The advertising is incredibly compelling. I’m watching a football game, and every other ad is FanDuel telling me if I do this, I can double, and if I do that, I can get a special certificate, and it goes on and on and on. I turn on the sportscast on the radio, and there’s the betting show. Now, I have no interest in that, but this is like doomsday scrolling on TikTok. You get into it, and it’s really hard to get out of it once you get hooked on it.

Gabriel Lewit: Yeah, and I think what’s the goal of our show, Our 2 Cents, our podcast here? It’s to provide education, hopefully a little bit of entertainment along the way, make people that listen better investors, smarter investors, wiser investors. And in this case here, if you’re listening to our show, definitely the demographic skews a little bit more mature, right? We don’t have millions of Gen Z-ers listening to the show here, but if you happen to be listening and you notice that your kid or your grandson or a family member, you hear them talk about all their betting, maybe something to talk to them about. Make sure they’re not putting too much there because these younger generations are getting drawn into this, and it’s becoming habit-forming as many addictive things tend to be. And it’s not going to be the outcome that they want for the vast majority of them, and it’s a very slippery slope.

Steve Lewit: For young people, social pressure is always a big mover of actions, and if you’re hanging out with your crowd, Gabriel, and you’re 28 or 34 or 41 and everybody’s betting, guess what you’re going to do? You’re going to jump in and play the game and hopefully not, but often get hooked on it.

Gabriel Lewit: Yeah. And that’s the thing about gambling, which this is very addictive.

Steve Lewit: So Gabriel, let’s bet where the betting will be as strong as it is today, 10 years today. You want to bet on that?

Gabriel Lewit: Well, if you go to Kalshi or any other prediction market, you could probably find someone that would be willing to, right?

Steve Lewit: Someone will, exactly.

Gabriel Lewit: But what’s your data behind that? I don’t know. And yes, folks, we get it. You might have a deeper-seated feeling, I’ll call it a feeling that your team is better than the next team, but does that guarantee that they win? I think the Bears are going to beat whoever they play this week because I just think so, but I don’t know so. So very, very different world here.

All right. So we gave something for you younger folks to talk to your older folks about. We gave some for your older folks to talk to your younger folks about. We’ve gone the full circle here today on the show, and I’ve found this to be a lot of fun, and hopefully you did, too.

Now, we’ve got a couple minutes left here. We’re not going to have time to talk about IRMAA, which is fine. We’ll save that for our next show and give it a little bit more attention. But just to round out this show here today, which we haven’t done this in a while, Steve, we’re going to do a little bit of get to know you, okay? Get to know Sir Steve and Sir Gabriel.

Steve Lewit: I haven’t missed the section, you know that.

Gabriel Lewit: No, you haven’t? Well, we haven’t done it in a long time.

Steve Lewit: Yeah. Well, okay.

Gabriel Lewit: And it’s always a good one when we have just a couple minutes to go here. So I’m going to give you an easy one, okay? The easy question is, what’s the hardest decision you’ve ever had to make?

Steve Lewit: Oh, that’s such an easy question. Oh my gosh, there are so many. That gets real personal, Gabriel.

Gabriel Lewit: You want me to start you with an easier one?

Steve Lewit: Oh, yeah. Wow. That’s-

Gabriel Lewit: All right. What’s your go-to comfort food?

Steve Lewit: Blueberry muffins. Listen-

Gabriel Lewit: That’s why-

Steve Lewit: … I love … I have one sugar a day. This is my deal. I allow myself … If I’m in the office, I eat one chocolate chip cookie that we bake every day. I eat one a day.

Gabriel Lewit: So you’re eating a muffin and a cookie a day?

Steve Lewit: No, no, no. And if I don’t have a cookie, I have an English … I go to Starbucks, and I get a coffee and my blueberry muffin, and I’m so happy. I feel so comforted when I do that. What’s yours?

Gabriel Lewit: My comfort food? Well, I do have this penchant for eating lately at least … It kind of goes in phases, right? I wouldn’t say it’s one permanently, but lately it’s been … If you ever go to Trader Joe’s, they got these little things called Hold the Cones, and they’re these tiny little mini ice cream cones, and then I eat two or three of them every night.

Steve Lewit: Yeah, I can see that.

Gabriel Lewit: Yeah, it’s a nice little treat. I feel like who doesn’t deserve a little mini ice cream cone at the end of a hard day of work?

Steve Lewit: So, what’s the hardest decision you ever made?

Gabriel Lewit: You can’t reverse it, sir. You got to go first. You go, I go, you go. Okay?

Steve Lewit: I’m still thinking about it. I’ve got a long list. It depends … Some are very personal because they’re very because they’re very close to my-

Gabriel Lewit: I have mine already, so if you want me to go first, I’m happy to do so.

Steve Lewit: Yeah, you go first. Just give me-

Gabriel Lewit: Well, interestingly enough, I think it was related to what I wanted to do for my life for a career, because I remember specifically being in college and I was all gung-ho about … For most of you, you might know my background, but way back in college, I was a computer science major initially, and then decided in my junior year that I did not like computer science as a career choice. I found it very interesting, but I decided I did not want to do it every day for the rest of my life. And I remember being at that time this giant question like, “Huh, well, if I don’t want to do that, what do I want to do?”

Steve Lewit: “What do I want to do?” I was-

Gabriel Lewit: And for the first time, I was 20 years old, I’m like, “Where the heck am I going?” And I’m the kind of person that always knows what direction I’m walking in. I have a direction, and I walk towards it, and this was the first time … And that was very hard for me, and the decision was deciding that that wasn’t what I wanted to do. Of course, the end result is I landed here with you and ended up taking finance courses in college and history courses in college and a bunch of other things that beyond scope. But yeah, that was a very hard decision for me to decide because it was walking into the unknown at the time. Yeah.

Steve Lewit: Yeah, I remember you and I having conversations of, should you be a history teacher? You want to join the police force? You had so many different ideas. It was great. It was good. So since you brought up your younger life, I’ll go back to my younger life. The hardest decision I ever made was to leave the opera. I played professional tennis. I just wasn’t good enough. But in opera, I was good enough, and I just ran out of money, and I had to choose between poverty and not taking care of my family or going to work in a regular job, and that’s how this business got created.

Gabriel Lewit: Yeah. Well, opera, I don’t know if it pays the bills or not, but it sounds like it didn’t.

Steve Lewit: Well, if you make it in opera, you’re very rich, actually. It pays very well. But it’s like any professional sport, you have to make it, and there’s a lot involved in that, and it takes time. And if you’re not independently wealthy, it’s hard to do.

Gabriel Lewit: I’ll allow it. I feel like you stole my answer for your answer, but that’s okay.

Steve Lewit: Okay, thank you.

Gabriel Lewit: We’ll give you that.

Steve Lewit: Thank you for your allowance.

Gabriel Lewit: But I might have stolen yours with the comfort food. I guess foods are foods, but yeah, ice cream cones and muffins and who knows what.

But folks, yeah, it’s great to spend some time with you here. Hopefully, you had a good time joining us here today on Our 2 Cents, and we really appreciate your listenership. We, of course, wish nothing but a phenomenal week and weekend for you. And if you have any questions, and we can assist you with anything to do with your finances, if you’d like to set up a complimentary consultation to talk to us, call us anytime, 847-499-3330, or you can email us info@sglfinancial.com. Send us any questions you have. We do have a couple questions banked up here we’re going to cover likely on the next show. And yeah, let us know how we can help you. Otherwise, have a phenomenal rest of your day and we’ll talk to you on the next show.

Steve Lewit: Be well, everybody. Stay well. See you.

Gabriel Lewit: Bye-bye.

Announcer: Thanks for listening to Our 2 Cents with Steve and Gabriel Lewit. For any questions about your finances, give SGL a call at 847-499-3330, or visit us on the web at sglfinancial.com, and be sure to subscribe to join us on next week’s episode.

Disclosure: Investment Advisory Services are offered through SGL Financial, LLC, an SEC Registered Investment Adviser. Insurance and other financial products are offered separately through individually licensed and appointed agents.