Todd Pietzsch from BECU joins us live in studio 10-19-16

Wednesday, October 19th

Todd Pietzsch from BECU joins us live in studio. Caller Rich has bad credit from hospital bills and wants to how to increase his credit score. A texter wants to know Todd’s top three Halloween candy choices. Caller David has two 401k accounts and wants to know if he should combine them or invest in something else.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

I invented numbers so I know how this stuff works each. I've played. Seattle shot patron CE CO2. There. Eight the fans the people what to expect a so of course Todd has been he's been working enough financial service industry for over twenty years he's done it all pretty much credit collections business development. BC you are a great great place to do your banking because of course it is a credit union which means well you're the boss. And they're looking out for you it's not about making a profit it's about all the members get taking care which is what makes credit and so cool. And you know the more more we. The more more we just hear about the world of banking jobs yeah and all the fun stuff that goes on in the world of banking. It really makes credit unions looks so much better these days and mediate it's I mean yeah I think I look at SAB de gallery so he's a bad assets like you get you just thought wow after 2009. We may be things get better but it seems like every year there's a story going. I really need to get to a credit union I really need to do that yet. I mean it when we review its swing with with with your best interest in mind is what work were all about so. And I am of course toss boss. And so this of which is why they're united conversation after the isn't a good we are comes surgeon. And our slot. I believe Danny well no I ordered that's once very weird because that's that's us that he wanted to have a meeting with me and I expect to be fired at that meeting is what happens when everybody's everybody box. At quit teasing me to set up what it. This is going to be a tough mean for both of us eleven. But you know why it's not always he's been coming for many many years and we always had to pick a day where you get to ask any question you want to that is. Really the spirit of BE CU and Todd answers as many questions as it can if you don't get through on the phone lines. At 206421 rock rock to 7625. If you don't get through texting at 77999. You can always email Todd we have a link. To the email and I'll still cool page of information just go to KI SW dot com scrawled on his seed Todd smiling face someone of the banners. Click on that you get all sorts of great info as well as an email that you can email outside and he answers everybody's questions of the best of his ability. Absolutely. Free let's start it up with ration Redmond rich you are around Iraq. Good morning we're gonna show. It's not feature VCU go ahead buddy. Yeah I could look. Not very good because of us hospital built a lot done but I would be able to get a car loans. That can occur or near half. I got a couple credit cards within a couple months to wait three months later got another credit card. After six months what are my credit cards club gig really increased 78 everything on time. And credit cards up our time I noticed my credit score was only ball put up like 68 point every month aha at and then. The only thing I can think it changes by the small finger how old that I paid off their ultimate critical jump forty point. In one month. We'll look at I don't gonna get caught. Why don't understand how it would only book but both slope. Whatever you're not a cult first you don't hear and not. And then one will try it won't make it different from open up about my. She we'll look at alone wasn't rich. I mean we should all bring her out well. Think you're always going to always traps I know you would have figured how long is CNN and Todd looks accused either way a what does that mean. No he never got property trigger button. Finger ha you know and we have a zoo will work tell you I need Frank's I think we're about are we getting Brent over years and I don't know. No finger how much time looking it's a some electronics. I had so rich that until you credit options available from finger. And tight little writing is is one of the factors that goes into it. So whether it's a mortgage or Otto. That and that type of thing so sometimes these these. Exotic type loans. Rent to own types that type things. Are are deemed upon his looking negatively. And because often time that's more expensive option for people. And so getting rid of that and paying that off would be favorable and would what could. It hasn't in your case increase your credit score that's gonna take some time you're doing everything right. I'm keep may treat keep me obviously paying on time but keeping those balances on your credit card. On the low on what's what's reported understatement even if you're paying it off in full every month on intent and time may eighth it will. Your butcher's saying Todd though and rates this and and we know nothing about the company fingerhut but you're saying let's allow sometime a figure but you're saying there are some. Companies that you can get loans from that are deemed not cool by the folks the powers that be when it comes your credit score. It's a Ritchie that that's what he's saying is you've got to be careful about who you borrow money from. Because the company may not be a cool company in the eyes of the credit score people. And that may be why you're you're getting Ding the way you warrant has nothing to do with how your paying inning off it's just sometimes well. You know that the people you do business with a light at end and we don't know any about fingerhut but you're saying there are companies out there. That are are looked upon it was more negatively when it comes to how they loan money your mainstream credit eerie ear pieces and your master Carter and beaten a better option and some a year department types. Tight things in his case he paid off so he's reduces debt that's gonna help right. On that that type of credit is it is one of the. Factors absolutely I'm gonna start up like my own manicure pedicure story caught the fingerhut. Our wealth. I think that's important information we need to remember that they're very serious question now via text at 779 NIC is odd Todd. I've 25 bucks to spend on Halloween candy you get a pay three times a candy what three would it be polite and thought these kind of questions this is very hard hitting you sure ready for this. I was a little nervous asking if I feel I tiny green and three types at the victory. Repeated Eminem's attack. Hershey's. And I other cases. Now I'm down just a regular version aren't any illustrate keep on doesn't just after straight Hershey or your crackle master good barges straight Hershey's I'm okay you're a real traditionalist it sounds like to expect mr. Hershey chocolates let's stop and crackle and is good my good guards didn't not so those in my book and mr. good bar nice. Only a duller person goes what's up an -- crunch OK he's Marty's post Smart he's. Hello Smart he's extremely selfish you know when you're doomed to be kids idea ammonia and I would let you have a Muslim and I would have been great friends are to give you always Marty's for all of your chocolate man and I'm mr. good bar. Mean yeah cool and out of its upside like Steve. Or what I think are nevermind but her finger on the evening I butter finger and Osama the finger up. The butter finger hunt that does not sound right. Let's go to David and every 206421 rock rocket 7625. We've got Todd piece from the ECU dot org and don't forget by the way. We tell you how great PC uses a credit union and if you wanna join you be like well. Is that a Boeing thing not just about anything anymore if you live work worship or attend school in Washington State school district you are eligible it is off some. As well as past and present members of course of the great bow weaned yes. Either way men it's good and you you know looking at people I talk to me who could be in charger on there. I don't shop whole luck is on the kind of boss that likes to manage from afar now that's the kind of got my hands off kind of a hands off I appreciate that you know I it's every every member is Abbas every boss is a member Acela Orson DCU it's pretty cool actually I appreciate and are probably tell you do your job obviously American Muslim I. I you know I give you a lot of lag could be a lot of flexibility of freedom make it. David in every year Robert Todd from BC do IB ECU dot org go ahead. Look at bullish stay arch which are about six years ago. And I'd let. A oral or case. As the old employer and I started in new line. Partly because the banking industry was kind of go through rough time and start but I have to separate ones that one kinda. Goes they all I still have the other part. A broader would be smarter and combine them or take you'll want to put it in the stuff melts. Maybe have a couple options that so you can check with your career if you have a really good solid planning your current employer you can. You know look at rolling that one over the other option is to roll that other borrowing K. Into just to traditional IRA and you can go to any of the brokerage doing email me acting. Give you some idea Todd and David I I would love to ask your question here because if he's no longer employed by the other companies and then the only good thing about their 401K is really what the money's invested in right. Yeah it. Yeah as some companies have some really solid plans like the Boeing company for example you say a solid player like what do they do like if I'm not working there anymore and so are they still doing something for me is a company or is it just my money is within the plan and being invested within those. I mean that's not the company doing that and you know right now it becomes so the company's net as is any company about benefits you anymore you're no longer working for the most heroic thanks so for example the Boeing company as a very solid plan. Right OK I am and there's a lot of money so they have very ease. And and great options to invest. So in any case if you leave on you may want to consider just leaving your money in that plan and because there are options in Lopez who's saying it is a very good so I'll carry out on you can go off on your own a -- into an IRA where you can then the role then you have 10100% control over it. You can gain dated some low cost index funds it's fair so. No broad and do. Ira is that in the big penalty from an out of laurel okay. Now he's got to make sure it's a direct rollover data than you be just fine so you wanna just do it the money go right from the 401K. Into that company that teaches and zero onto Ira do you feel like the fees are going to be comparable to pretty much any company that he's got it and like even if it's blowing you have a 100% control of rights they could do some low cost index funds on their is that you have the universe open to you at that so yes so you're saying that in there and the end of the day that could be better than when any company can provide potentially yes okay Eric. It troopers got here to be in control of their own money. The slightest if I don't do it there's people out there to help you David so that's why unity can reach out to some innocent advisors yet as you know because David here's the thing even and Todd correct me if I'm wrong. Companies don't tell you what to do with the money you still have to pick your funds usually in a 401K you have to make a decision what funds to put the money and right right and they have they have people to help you right most most suited most committee we'll give you some advice and they came anyway you know here's and based on your risk tolerance. Here's some ideas for you absolutely and then it but if you do roll it into and hire a you know you'd get some help. Don't talk as you know and it you know find some low cost funds for well 5% Thibodeau has anybody ever I appreciate the call thank you to David I think you know because I have a financial guy so maybe I'd never listen anybody in our company but have you guys ever gotten any advice about the for a kid like how to how to invest your money when they pass here at the radio on the other guy and about that I've. You know what I'm doing this for freely here sign it might be that there is there may be better cup result they're from them what we're used to over here. I'm yeah I should you should have some idea it into every year. Planet minister I think sit here of the funds and I don't primarily have you looked into and see if there's anybody whilst I got a guy ice show on the funds and go what should I do and my financial guy goes yup put your money into this yet so I already but I have my own guided tells you what do I did know the company made him be able to all these things it depends who you. Our and our debts are some questions but that's a the ideas as well let's good to know I didn't realize the company's not only be 401K but also would give you some financial advice of where it in a huddle investment in their own plans that's chemical. I've something nice that someone wrote about Todd on the tax on if you like for me to read it all really ask our son could use some good news as president Todd they say hi to Todd and I love BC human twenty year old person I'm in climb closing on my house at the end of this month ice as a listening to his advice for several years and he is awesome. Awesome Taba which it does their twenty which means they've been listening to you since they were in their teens that's pretty cool. It's a physical assault that you know that's why we're here and the honestly thank you so yeah I just. I got here for the money I don't know where yet so I just doesn't define you find a bottle don't ask questions we have native twenty years old and a homeowner how awesome is a guy that's insane that is that is awesome boy oh boy that's not something I ever did she. So I got a lot of respect of that of that text. Well taught as usual you know what the time has flown if you can get through on its excise the phone lines. You can email outside he will answer every question you possibly can just go to KI SW dot com. Scrawled on C Todd smiling face plus is a great resource page that we have up there. And don't forget the ECU dot org meant seriously credit unions if you're getting a little just sad about the world of banking. That's why credit unions are a great place where you do pretty much anything you wanna do at a bank. Oh and everybody takes everybody to credit union so you kind of don't have to worry about like. All I wonder if all of a sudden the headlines gonna affect me today yeah I'm not now the credit union they're pretty cool there thanks BJ I take it easy Todd a. And made some morning. Rock and 99.9 KI guess W all the.