(Guest Lecture): October 2022 - Finding a Treasure Chest of Assets You Already Own

That being said, today's topic is going to be finding a treasure chest of assets you already own. And Diana, the time is now yours to present and thanks again for being here. Thank you. Thank you to everyone who's joining us today I really appreciate you taking time out to better yourselves better your family to better your financial situation. The reason I chose this is every fall. I do a house cleaning. I look at my own financial picture, and I determine what needs to be changed, especially in light of the inflation that we're all experiencing. And I decide what is best my best route or options to go forward, not just looking at what I need now, but what I'm going to need next year, five years 10 years down the road for myself and my family. And in light of the open enrollment for Medicare coming up, and the other benefits coming up in January I thought it very pertinent for us to look at everything. And so, while we go through this I was going to also offer a disclaimer. The information you're going to get may not be relevant to you or your, your financial position, but I always suggest and I will suggest this on almost every webinar that you speak with a financial advisor speak with the tax professional to find out if there's something that you can do to better your financial situation. Don't go it on your own because they are professionals they know what's going on. You can always reach out to me because I am a financial advisor. I have been for over 22 years if there's some questions you have that I can answer I'd be glad to direct you in the place that you can go or refer you to a financial advisor, should that need to exist. Let's get started. So some of the things we're going to cover our, like I said, we're going to review your financial position find out what you can do to better yourself. What do you have access to like your personal assets your home, other things that are sitting around you forgotten about what type of savings do you have what changes you can make that can help you financially and trust you meet, there's going to be at least one or two ideas everybody they can take advantage of what you need and for what. That's very important lot of times we set aside money we don't know what we're setting aside for or we don't need what we don't know how much money we're going to need for that particular goal or need. How much do you need above your current income and for how long. This is something I think a lot of people forget about we have debt that's going to be paid off. Where could you redirect that money. Can you pay that debt on faster. How can you do that. We're going to cover some of those ideas as well. What have you overlooked. We overlook things all the time like subscriptions. I've done that and I was surprised at how much I was able to determine, I was on things with subscriptions that I didn't even use anymore. What opportunities are there in plain sight that we just don't see. I'm going to try to uncover a lot of those things for you. The next slide. So what are assets assets we know we normally think of assets like your savings account retirement plans, but there's a lot of things involved with assets. The financial planning environment is usually very specific it doesn't get into some of the other things that we have sitting around our homes that can be concerned, considered an asset. Today we're going we're only going to scan those give you some ideas on those traditional things we consider assets. We're going to review alternative income producing opportunities that you may not be aware of. And as always remember again, not all of these things are appropriate for everyone. And everything must be considered carefully based on your and your family's interest in your needs. Again, work with a financial advisor or a CPA or some kind of professional to help you with the options that you may have available. Next slide. So your home your home is generally the biggest asset that you own. So do you have any and there's different ways you can use your home as an asset. And do you have a huge event in your, in your city that bring a lot of out of towners in every year here in Kentucky and Kentucky we have the Kentucky Derby. And it starts off two weeks before the actual Kentucky Derby, which is the first Saturday in June and May. And during that and the weather's generally getting it's generally nice here in Kentucky, although you know we have years where it's beautiful the day, two days a week before and talk at a ducky Derby day. For some reason the bottom falls out and it gets cold and might even be drizzly or might even be sleeting so it's really weird. So, it's a beautiful area Kentucky's beautiful and so a lot of people will find ways with their homes up for either a week, two weeks for just the Derby weekend, and they can make upwards of 510 1520 thousand dollars, that could be a huge benefit to them to offset some additional costs or expenses they have coming up. So, is there something going on in your, in your city, in your state, where you may be able to rent your house out for a weekend or a week, a week, go stay with some friends, take that week to go on vacation. There's a lot of things that you can do and you don't have to follow a lot of rules like the Airbnb, it's completely different, you're not doing this all the time. So it's a lot more flexible it's a lot more. It's a lot easier to do and there's people who could rip those things out or do the marketing for you on your behalf, and the cost is minimal. Consider that if that's something that you might find interesting. Again, if you own your home, I want to stay in the home area, and you're over a certain age depending on your state look for the homestead exemptions for you don't pay as much on your taxes. Look at your insurances, if you haven't looked at your insurance for your homeowners. See if your age is an abandoned, where you can reduce the cost on your home homeowners insurance. We're going to go into that a little bit more detail a little bit later in the slides. Next. If you have a home that has a lot of equity in it and a lot of people have realized a lot of equity in their home the last year or two, but the value of homes going up. Well guess what, why not look at capturing that if it works for you. So what I mean, if you have a home that you own or have a lot of equity in, and you find expenses are becoming very very difficult to handle. Why not reach out and find out more about a reverse mortgage reverse mortgages are becoming very popular for people over 62 years old. They have equity in their home. They may have a home that they realize they want to live in for the rest of their life, but they may not have anybody who's going to necessarily need it like a children, children may have their own homes, and it may not be a mortgage that they want to actually want to pass one. Why not take advantage of look at reverse mortgage where you can actually take the equity out, you can not no longer pay any premiums or your mortgages every month, because now you're taking the mortgage out is paying on your behalf. Be aware there are fees and there's interest involved, but you don't have to pay that that comes out after the end where you're no longer living there you decide to sell it, at which point you pay that mortgage off or whatever the bill is for that. And you pay for it out that and if there's above the loan that's been increasing as you take the mortgage out the money out, then you get that money in hand, so it could be a win win for everyone. So, and if you end up finding yourself you're concerned about spend down for Medicaid. You don't have to worry about that as well, depending on how you set up so this is something I think it may be a great title for us a great subject for us to look at in the future. Next slide. Next slide. Next slide. Next slide. Next slide. Next slide. Next slide. Next slide. Next slide. Next slide. We've, we've touched on this we actually did a seminar on this several months ago, cash cash value life insurance policies again I mentioned briefly, you can do withdrawals off of those if you have cash value in there but be sure you if you do cash value withdrawals make sure you're not going to blow your policy up as it may lapse. You want to, if you need that insurance, make sure you keep that in force. Withdrawals can be non-taxable depending on how your policy is structured. Maybe you'll take money out of it without having to pay taxes, but keep your policy in force. When you take the money out, you're going to reduce your death benefit to your beneficiaries. So keep all of that in mind as well. You might want to do some conversions. If you have a policy, you think you have too much insurance, you may want to convert part of that policy into something else or take the cash value out or reduce the actual amount, which means you're paying less in premium, more money in pocket. So you can also take loans. You can take loans off the policy. Sometimes they will also make through interest, just like a regular loan. You can pay those back or not. If you do not pay those back, that will come out of your death benefit. You can sell it, maybe taxable to the extent of the cash value. So if you have a whole life insurance policy, let's say it has $10,000 cash value, but your death benefit may be 90 or 100,000. You can sell that policy. They're called structured settlements. Be careful how those are done. Once you make a decision on that, you cannot go back and reverse it. So shop around, look at your insurance, portfolio, auto, homeowners, all of those things, make sure you're doing everything the way it needs to be set up for your family and yourself. Next slide. Timeshares, oh, I get a statement on this every month. And I'm telling you, I want to go and jump off the back stairs or something. My husband and I thought it was a great idea when our kids were young. Going to Florida, everybody wants to go to Disney World. We went down to Disney World, we got roped into buying one. We actually owned the deed on that, which was good because we could transfer it to our kids. However, Timeshare sells, sells, sells, the bank just goes up, and they say you could trade them within other Timeshares, but you don't get what you always are promised. So when you look at these things, if you don't plan to use these and maybe money you're spending, including the maintenance fees every year, whether you use it or not, that's money going out of your pocket and it's not benefiting you. If you have the option to sell those, good luck. I wish you all the luck in the world because it could be very difficult. But I would be aware of some of the scams that are out there for these Timeshares. You think you may own something and you find out you don't, or you have something every time you go to use these, they're gonna try to sell you another one. And the pressure is hard. You think used car salesmen are very difficult? These people, I mean, they know how to sell and they know how to keep you in there. So be aware of these things when you're going, when you have Timeshares, figure out a way if you have one that you're spending money on, how can you get out of it if you're not gonna use it. Right now may be a really good time because a lot of people are buying up and sometimes these Timeshares are, absolutely resorts are turning into like hotels or like Airbnbs. They're looking for some of these things. This may be a great time if you have one to get out. Next slide. Savings accounts. If you have not looked at your savings account recently and looked at other options, savings accounts because interest rates are going up, you are earning more interest, should be earning more interest in your savings accounts. Shop around and don't just look at your bank that you're very loyal to, that's great, but you may be able to find interest, a better interest rate somewhere else. If you're on a fixed income, every dollar counts. As you know, the cost of food, the cost of gas, the cost of everything has gone up. And right now there really is no end in sight. The fear of recession is beginning to unite, where it's becoming more and more common. You hear it all the time. It is very possible that we might end up in a recession. Remember 2008, 2009. Remember back in the eight seventies, eighties, when gas was so high, we may be looking at something like that now. That is why it's so important, so very important for you to look at your financial house now, take advantage of opportunities now before it's too late. Look at things such as bonds. Bonds are now earning more interest because interest rates have gone up. Look at dividend producing assets. You may have stocks that you have, but are those stocks producing dividends? Even if the value fluctuates, there are stocks that pay out really, really good dividends. That could be additional money in your pocket. Again, based on your risk tolerance, based on your needs, your goals, your understanding of assets, I would really encourage you to seek out a financial advisor or a CPA or someone who can really guide you through this process before you do anything on your own. You don't want to do something that's going to be very costly to you later on. Next slide. Review your tax exemptions. This is one of the easiest ways for us to put more money in our pocket or use the money that we have that we've worked hard for if you're still working. A lot of people, when you do your W-2s, how many exemptions you're going to take, you may want the most exemptions you have on there so that you can get the most money right up front, but then you have with a big tax bill later on. Or you may put very few people on your tax return, as few as possible, maybe just yourself. So you'll have a lot of money go into taxes, and then you have a expected tax return later on. Why are you letting the government hold your money for as long as they want to hold it when you can be using that money, especially now putting in a savings account and earning interest on it? Look at your tax exemptions, work with your CPA, your tax advisor, and find out if there's a better way to set this up. Next slide. Consolidate credit card debt. You see these all the time, these credit counselors on television. Be aware of some of those because a lot of times you may be paying them to do something that you can do on your own behalf. It's not very difficult to do. If you have credit cards and they have high interest rates because credit cards, guess what? Those rates have been going up. If you had one that says it started out 17.94, but it had, could be arranged with 17.94 to 29.99, guess what? It's getting closer to that 29.99. More money out of your pocket. Right now, if you, everybody, I would suggest you get on Credit Karma. Credit Karma can give you a better idea of what your credit looks like, what credit cards you've already been pre-approved for that you could get a really great opportunity to get into, based on where they see your credit right now. There are a lot of zero credit interest rate cards out there. You can transfer high balances into those, pay those balances off, and keep more of that money in your pocket, which means you're not paying the interest. There's a time period for you to do that. There may be a fee for you to transfer your balances in there, but it's very insignificant compared to what your balances may be or the interest you may be paying on those cards. There is a great way to use credit cards, different types of credit cards out there that we now have available to us that weren't available 15, 20 years ago. So I would really encourage you to look at all of that when you look at your financial health. Next slide. So the best use of credit cards. Take advantage of credit cards that offer cash back or points for travel. If you are traveling for your healthcare, this might be a great thing to use. If you have bills that you pay every month, like your electric bill, your gas bill, gas in your car, loans, use that credit card and get cash back for it. It's like somebody giving you cash for you using your credit card, paying for things you would normally pay for anyway. And then bill your credit by paying those things back every month, because you're gonna be paying for them anyway if you're paying out of your checking account, right? So points for travel. Get a credit card that has travel, especially if you're traveling for care. You have to go once or twice a year, or monthly to get labs done or to see a specialist. This is a great way to use a credit card to take care of those expenses. You're gonna be paying for it anyway. But get points for travel where you might get additional free tickets or upgrades on your travel. But be aware, because we're in a current higher interest rate environment, like I said earlier, if you have those variable interest rate cards, those interest rates are going up, which means if you carry balances on those for month to month, you're gonna be paying more out of pocket. Try to use your credit cards prudently. Don't pay them for all of your copays, your things that you can maybe find money elsewhere to pay for copays, because those things will be adding up. Pretty soon you'll find yourself maxed out, your credit's hurting, you're more stressed because you can't figure out how to pay those credit cards off. Next slide. Having a credit card or two can be convenient. There's places you can go where it's not convenient to carry cash. It's really good to have a credit card because then you have security on there. If there's something that goes wrong, you can appeal some of those charges easily. And it can also help us establish or solidify your credit standing, especially if you pay off your credit at the end of every month. Take advantage of cash back cards. Find out what you qualify for. Again, go to creditkarma.com and sign up, and it'll show you how to better your credit standing and what kind of credit cards you may be eligible for based on your credit. And if there's any zero credit interest cards out there, they can help you manage and keep your credit standing where it needs to be. Next slide. Again, travel credit cards, and we touched on this. If you find yourself traveling for your medical care, get a travel card. If you find yourself having to get, or you travel for family, to visit family, or whatever you do, get a travel card because you're getting points on that, and you can even find yourself getting free plane tickets or reduced fare is worth your advantage to get, especially if you're gonna be traveling anyway, why not? Next slide. So reduce your tax liability while keeping more of your income. So if you're still working, a lot of people think I'm saving in my 401k, I'm saving up to the max, or to the match that the company's giving three, four, five, possibly 6% if you're lucky. And if you still find yourself, you're still paying taxes, why not maybe up that a little bit? The more you up on your 401k, the more you're saving on taxes because it comes out before taxes, that means you're less, you're reporting to your tax. Especially if you're on that line where you're going up to another tax bracket, and you still have money sitting, money that left over after you pay your bills every month, why not put that more into a 401k? So your advantage, open an IRA account to save more again and reduce your tax liability. Whether you open up a already after tax, such as a Roth, I really encourage you to do that because there's a lot less restrictions on those, as opposed to your regular traditional IRAs. But there's a way to do those. And right now you really should be considering it before you go into the next tax year. It reduces your tax liability if you're on that cost. Before you go into a next tax offer, higher tax rate, this is really something you need to look for. Especially if you're over age 55, 50, 55, because you could add even more than a person who's younger into IRAs. Next slide. Eliminate subscriptions. I was going through my, so I'm in the process of purchasing a house, and if you know what that's like, you have to expose everything. I wanna ask them, what kind of brand bathroom tissue should I use? Because they wanna know everything, right? I was going through my bank statement because they gotta go through that as well. Looking at these things that I'm spending money on that I no longer use. You may have a subscription to books or streaming sites like Hulu, HBO Max, anything and everything out there that's out there that you maybe have a subscription for that you may not even use. Cancel them, put that money in your pocket. Some of those things are $15, $20 a month. That can add up if you have three or four of those things. Do you have a health club that you're still spending on? I did this for years. I wish I had that money. I had a health club with a good intention of going every month, did really great for a while. And that's why they're there, because they know a lot of people are gonna sign up, especially coming into the new year. Great intentions, right? And then you're still spending money on it. You're embarrassed to stop. You go in once or twice, and then it gets harder and harder to get out the car. You can drive the car to the parking lot. I used to drive the car to the parking lot and just sit there thinking, I know I wanna do this, but I really don't wanna do this. I'd rather be doing something else. And so you're spending that money and guilt keeps you from canceling it. If you're not using it, cancel it. If you're spending money on it and you really want to use it and to get better your health, like we talked about, health moves, the health free moves, use it. Better yourself, better your physical self and your emotional self. So go through your accounts and find out what you've forgotten that you have, that you're paying for and eliminate the ones you don't need or want anymore. Put more of that money in your pocket. Next slide. So review your retirement program and assets. Again, this is going toward our financial planning. This is my financial planning app. So if you have 401Ks, you have annuities out there, you have money that you're taking out money for retirement or will be in the future taking out money for retirement. Look at your options to how you could access those. Reduce your tax liability based on how you access those. Work with your advisor to determine if you can reposition your assets. A lot of people say, well, the market's down too much now. I don't need to reposition. Not necessarily true, depending on what your risk tolerance and what your timelines for your goals are. If you're close to retirement, if you're really close to retirement or in retirement, if you have not repositioned those assets now, whoo, you've taken a big hit. Do you have the time to make up that loss? If you have the time and you're not retiring in the next three, five, 10 years, you have the option to reposition those assets and take advantage of when the market starts returning. Look at maybe putting some of your assets now into interest bearing or dividend bearing assets that can start generating some income and make up for some of the losses you may already have. Again, work with your financial advisor to determine the best way to access your retirement funds and how to position them to work their best for you. Next slide. Again, I'm gonna say it over again. Work with your financial advisor, look at your savings programs, look at your timelines, when you're gonna be paying things off. If you're gonna be paying your house off, where can you redirect that money? If you're gonna get a reverse loan mortgage, how can you effectively manage that if you're a short-term disability, if you have to report that as income? Because that will be income to you. How is that gonna affect your taxes? How is that gonna affect, if you're thinking about, you may have to go on Medicare and spend money down versus going through a lot of other assets. How is that gonna affect you? How is that gonna affect your taxes? How is that gonna affect your healthcare of being able to pay for your healthcare both now and going forth in the future? Next slide. Raising funds. We see a lot of this, especially this time of year when there's a lot of things going on, like hurricanes, floods, unusual incident where people will start doing GoFundMe's. A lot of people think GoFundMe's are for people who are in dire straits or just need money to pay for a funeral or pay for things like that. It's not at all true. Anybody can set a GoFundMe page up. You can do it for college expenses, for a charity you may own, for anything, for anything. And it's easy to do. The marketing is easy to do. There are people who actually go out and surf. As I know that's the old thing for getting online. Go out and look for things that they already have interest in to find a place where they can send money to because they're looking for things to write off for their taxes. So there are things that you can do to raise money if it's a medical need or no expenses coming up, especially a big one. Right now may be a good way to do that. Call Crown Funding. Send it out to friends, to neighbors, to coworkers, to anybody. And then a lot of those things feed off of themselves. You'd be surprised at how fast you can earn money or raise money through Calc Funding or GoFundMe. And guess what? The IRS does not consider that income. Free money to you, right? Why not? There's a treasure chest right there. Next slide. So how does it work? On the donation-based crowdfunding is the most common. People give without expecting anything in return. How often do you find that, right? It's simple to set up and to manage. It's all online. You set your goal, what you wanna raise the money for, how much, create a compelling story that is gonna draw your person in, the people who are gonna donate in, and add a picture or video. Make it personal. Make it something that people are gonna relate to. Send emails, text messages, share on social media, follow-ups on what's going on. And then you accept the donations. You thank the donors wholeheartedly because it's something people are doing and they don't expect anything in return. And then you withdraw the funds for your needs. It's really easy. It works on it. It actually is like a domino effect on itself. And it's something that I think everybody can take advantage of. If they find themselves in a financial situation or stress, this is an easy thing to do. Next slide. Medical prescription cards. There's GoodRx, Needy Meds, discount prescription cards with no cost to you. Help you find the lower cost of pharmacy for your prescriptions. And I would encourage everybody to look at those things and do some comparisons. You may find that those cards will pay more than your insurance will. Make sure they run those before your insurance cards. You get a reduced cost on hundreds of generic drugs as well. Next slide. So look around your home. If you have things that are sitting there that you get money for, look at places that sell for estate sales. Do you have exercise equipment just sitting there? Do you have gently used furniture taking up space? I'm sorry, someone knocking my door. I don't know who it is. What about tools and yard equipment? Do you have things sitting around that has value to it? Sell it. Find someone to do it on your behalf. What about highly appreciated stock? You can actually look at ways to make charitable donations to that, use it, but then you don't have to pay as much taxes on it. Next slide. In summary, in short, we've very accustomed to everything around us. We ignore things that we have just sitting there. Think about getting rid of things you no longer need. If you have a huge art collection, maybe you can donate that, or you can lend it out. Clean out your gar, clean out your garages and closets, and turn those things, useless things, if you find useless, into money. So I think that wraps up everything we've done. And if you don't mind, I need to go check and find out who's at my door while we find out. Go ahead. I was just going to say, I will direct people a different direction if you want to. So I just wanted to let you guys know that on October 11th, Diana has invited one of her friends who is actually a Medicare expert, and she's going to be coming to talk to us about Medicare. Oh, there you are, Diana. All of the questions that you have, they're going to be presenting for about 45 minutes, and then we've left 45 minutes of open Q&A. So any questions that you have about open enrollment for Medicare, what do I need to know? What plan is best for me? What kind of drugs are covered in Medicare Part D? I know we get those kinds of questions. What about the donut hole? All of these things that make Medicare so entirely complicated. We're going to have a session where we can hopefully talk to you guys and give you proper information and also answer your questions. So if you're interested in signing up for that, we'll include that link in our follow-up email. It's also available right now to register for on our website if you want to go to healthtree.org slash myeloma slash community slash events. I will put that in the chat for anybody that's interested. And Diana, I'll turn the time back over to you if you want to unmute yourself. I did just mute you while you were. Thank you. Yep. There I am. So I want to make a plug for that Medicare seminar we're going to be doing. We're going to have an expert here, and she can get you the nitty gritty of things. Okay. So if you're on the knocking in the background. Okay. So she's going to give you an nitty gritty of things that I am not aware of for Medicare. How they determine what your plans, how your plans are going to change and what the cost is going to be on those things. She can talk to you about all types of Medicare programs out there. And she's going to talk about some of the changes that are going to come up. I am going to be talking to you about some of the changes that are coming up. Very, very important. There's some great changes are coming up that a lot of you guys need be aware of. It's going to benefit you. But there's some other things we really, really need to dig deep into. I think you need to dig deep into. And because we're getting so close to open enrollment now, you'll still have time to make those changes. So please, please, please tune in so that we can go through those things. You have the option, you have the time to review what you have. And then you can have time to reach out to us when the financial advisors to help you along the way. Awesome. Thank you, Diana. One of the questions here was, my life insurance term will expire in a few years. I assume that I can't get another term at a reasonable price, so I just let it lapse. Now we've talked about life insurance before in some of our earlier sessions. Maybe if you want to give a brief answer to this one and then we can include your other sessions about life insurance in the follow-up email. Sure. Now, if you have a term, life insurance, that's about to lapse, you pay premiums in there that if it lapse, you're not gonna get anything. You've paid for something you don't have no benefit on. You can, if you're older or you have a illness that prevents you from getting life insurance now, you can convert all of that or portion of that policy into a permanent policy, which is gonna cost more depending on which kind of policy you get. But it will give you the benefit of taking a policy now it's gonna expire and convert it to a policy that you can have for the rest of your life. That is the benefit of policy that could be converted. Better to look at it now before it expires. Awesome. Thank you so much. Does Credit Karma charge fees to look at your situation and offer initial suggestions? No, Credit Karma does not. When you sign up for Credit Karma, you'll be able to look at, they'll tell you what your credit looks like. And they'll say, based on your credit that we're looking at and they don't do hard bulls, your credit was gonna affect your credit score. They'll say, based on your credit, it'll do it every month. They say, this is what's happened to your credit, this is what's happening, or you're doing a great job. But guess what? Here's some loans or credit cards that we saw you'd like to qualify for. And they'll have all those things based on your credit. You have a 90% of getting approved or 99% of getting approved. So you can go through those things. It's very much worth your while to look at. Awesome. Thank you. Martha was wondering if there was someone who would be able to discuss long-term care insurance with the group or with them, like if they could connect with one of the financial coaches. It says they recently received a letter from Genworth regarding long-term policy, which they've had for over 20 years. There's now a lot of money in benefits that have accrued. However, they are threatening to increase premiums over 500% at a loss of what to do. Yeah, Genworth was the stall worth of long-term care policies. And I would be glad, I am licensed as long-term care insurance agent. I would be glad to discuss that with you based on what your needs and goals are. And just reach out to me. I'd be glad to talk to you about that. Talk to you about it. Sign up for me on the coach website. Sign up for me as, request me as a coach. Awesome. So I'll put that again in the chat for everyone. This is where you can go, healthtree.org. Sorry, I should have put the WWW, but here, let me try that again. But if you go to this website and you using the link that you signed up for or using the account, excuse me, that you used to sign up for this event, you can use that same account in order to log into the coach website and then find Diana or find somebody else who has financial expertise and connect with them so that you're able to ask them this type of question. They'll be very transparent with you if they think, okay, this question has reached to the extent that I can answer and I now recommend you see a financial advisor. Or if they're, you know, I'm not able to answer this question, but my colleague can, let me pass you on to them. So never be afraid to ask these kinds of questions because even if your question isn't exactly answered, they can direct you to the resources and the people who can answer those questions completely. We're here to help you. I mean, financial toxicity, treating financial toxicity is just as important treating and preventing as treating and preventing myeloma. You know, we have to prevent financial toxicity just as we have to prevent myeloma from overtaking your life. And so we take this very seriously. Diana and her team does an amazing job and we really are here to help. I just don't want anybody to leave this session or live their life thinking, I'm not gonna be able to get that help that I need because we're gonna do our very best to make sure that you get that help. So that's my soapbox for today. If anybody has any other questions, you're more than welcome to ask them. They could be about what Diana talked about or they could be slightly different like we've heard. But the Q&A is still open for a little bit if you guys would like to ask. Now, Diana, we talked about renting out the house. Would you recommend something like Airbnb if they had the basement that was available or are those costs of maintenance just too high? It's not necessarily the cost of maintenance. It's all the paperwork and the taxes and all those things that are involved with that. There's a lot of stronger guidelines when you have Airbnbs anymore. But if you're only gonna do something for like you rent your house out for a weekend or a week, you don't have to necessarily go through that because it's not a business business on your behalf. Right? Right. But I would always caution anybody. Some people will do this, they'll rent out part of their home. You wanna make sure that your home is only, when you have somebody walk into your home and you're not there, everything's exposed. So you gotta make sure that's something you're comfortable doing. And there's maybe a place where you lock up things that you don't want anybody to have access to. And a lot of people do that even if they have rental homes on the beach, they have homes where they rent out all the summer and they're somewhere else, but they have rooms where they have those things locked off. So for a weekend, is it that big a deal? Is it worth you making several thousand dollars? Are you comfortable with that? It all comes down to how you're comfortable. Now me, I don't want anybody else to get in my bed. I'm sort of OCD. I don't want anybody using my things in my kitchen. I don't want anybody sitting on my couch. I'm just very particular. I'm sort of OCD. But I have people that doesn't matter. And you also have to have a cleaning service to come in and clean after you. That could be part of the cost to that person who's renting. But I know people who make $15,000, $20,000 in a week for a weekend. Wow. That's amazing, isn't it? If you have a boat that has a berth or place where you can sleep, a lot of people use those as well, as long as you keep it anchored because you don't want your insurance to cause a problem. Of course. But there's a lot of things out there you can do if you have a four-wheeler or RV or something. These things could be rented out as well for weekends. Awesome. We have another question here about, can I get a life insurance plan as a newly diagnosed myeloma patient? And I'm going to say, check out these recordings. I've put the two different recordings that you've done in the past. There's one that's called creative ways to find life insurance, even with cancer. And then there's another one that's called capitalizing life insurance to pay for your myeloma care. So it kind of talks about the two different versions of life insurance. Life insurance, and then once you have life insurance, how can you capitalize on it? I don't know if you want to give a brief answer to that question though. Yeah, thank you, Linda. As possible. First things, a lot of people forget if they're still working, especially going into open enrollment at the end of the year for the effective benefits for January 1st. If you're still working, if they have options to buy life insurance and then you can get supplemental insurance. A lot of times, find out if those supplemental insurances can be convertible. That means you can have it with them or maybe your spouse is working and they can add you as a supplemental life insurance to their program that gives you life insurance. And if it's supplemental, a lot of times that insurance is convertible. They're not going to do underwriting. That's where you can get insurance, life insurance. They're not going to do underwriting and you can convert. A lot of times you can find out you can convert it if your spouse left or if you left that employer. And then that comes from policy. It's interesting, right? Because a lot of the policies nowadays are during this open enrollment period up to a certain amount, there really is no underwriting. If you wanted to go over that amount, I mean, yes. And there's going to be overwriting and it's more of a detailed process. But I echo what you said. There are possibilities out there. I don't want anybody to think, even if you don't, even if you don't have an employer or you're retired or whatever, there are also other options. They just are more, they tend to be more expensive. Right. Wonderful. Well, I don't think anybody would complain if we ended a little bit early today. So thank you so much, Diana, for sharing with us. And I really do appreciate the time that you take to prepare all of these sessions. And I know that I'm really looking forward to the Medicare session that we mentioned in just a week. Again, that's going to be October 11th. And please sign up. I did put that link into the chat if you are interested in signing up. I also would like to mention a couple of other events that you might be interested in signing up for. Tomorrow at 7 p.m. Eastern is Justine Osborne's How to Stay Fit Throughout Your Myeloma Journey. She's going to be sharing her personal myeloma experience. She was very active before her diagnosis, broke her back, had a stem cell transplant, and is now finding ways to stay active even throughout her myeloma journey, even though it looks different than it did initially. October 6th is our Southeast Myeloma Chapter. So I'm really excited for this chapter launch. If you live anywhere from Delaware all the way to Georgia, that includes the DC area, West Virginia, Virginia, North Carolina, South Carolina. If you are interested in joining a larger network of myeloma patients and caregivers in your local community, I know it's a pretty big region that we're talking about here, that I invite you to join us at 6.30 p.m. Eastern. We're going to be hearing from a smoldering myeloma patient who is also an infectious disease expert. She is gonna be sharing about infection prevention during this contagious season. And then on the 11th at 1 p.m. is that Medicare event that I've been mentioning to you. The link to sign up for any of these events and even more events I haven't mentioned is found at the bottom of this slide and will be included in the follow-up email. Another thank you to our sponsors, Bristol Myer Squibb, GSK, Genentech, Avian, Amgen. And thank you so much to each of you for helping us build this myeloma community. I really appreciate you taking the time out of your day to be here and hope that you have a great best of your day. Bye everyone.