1 00:00:00,080 --> 00:00:02,360 Speaker 1: Welcome to How the Money. I'm Joel and I and 2 00:00:02,440 --> 00:00:05,520 Speaker 1: Matt and today we're discussing the downsides of free investing 3 00:00:05,680 --> 00:00:28,240 Speaker 1: and rising pandemic prices. Yeah, Jill, before we launch into 4 00:00:28,280 --> 00:00:31,040 Speaker 1: talking about all the different topics we want to cover today, 5 00:00:31,360 --> 00:00:34,920 Speaker 1: did you see that sports they're back coming soon coming 6 00:00:34,960 --> 00:00:37,199 Speaker 1: see sports? Yeah? Well, not the n b A. I 7 00:00:37,240 --> 00:00:40,200 Speaker 1: saw that they actually drafted up like a hundred something 8 00:00:40,200 --> 00:00:43,599 Speaker 1: additional pages of rules that has to specifically do with 9 00:00:43,640 --> 00:00:45,680 Speaker 1: like the pandemic and all the different precautions that they 10 00:00:45,680 --> 00:00:48,400 Speaker 1: want to take. But not the MLS. They're just like 11 00:00:48,400 --> 00:00:49,920 Speaker 1: throwing the players out there on the field and telling 12 00:00:49,960 --> 00:00:52,080 Speaker 1: them to play soccer. You see, seeing what happens, right, 13 00:00:52,320 --> 00:00:54,600 Speaker 1: I think? Yeah, I'm excited at least to see some 14 00:00:54,640 --> 00:00:58,160 Speaker 1: sports come back. MLS is gonna be the first one. Basketball. 15 00:00:58,240 --> 00:01:00,400 Speaker 1: Who knows what's gonna happen there. Baseball looks like it 16 00:01:00,480 --> 00:01:03,160 Speaker 1: might not happen at all. But yeah, I'm really excited 17 00:01:03,200 --> 00:01:05,280 Speaker 1: for soccer. Yeah, man, I am as well. July eight, 18 00:01:05,520 --> 00:01:07,560 Speaker 1: that's when that there's gonna be this huge tournament down 19 00:01:07,560 --> 00:01:10,759 Speaker 1: in Orlando, and I'm not totally sure what the quality 20 00:01:10,800 --> 00:01:12,480 Speaker 1: of play is going to be like because these guys 21 00:01:12,480 --> 00:01:15,520 Speaker 1: haven't been playing. They played one or two matches at 22 00:01:15,520 --> 00:01:17,680 Speaker 1: the beginning of this season, but then it seems like 23 00:01:17,720 --> 00:01:19,840 Speaker 1: they've just kind of been sitting around and it's just 24 00:01:19,920 --> 00:01:22,080 Speaker 1: it's down in Orlando and it's crazy hot down there. 25 00:01:22,120 --> 00:01:24,679 Speaker 1: So I'm not totally sure if that's gonna draw a 26 00:01:24,680 --> 00:01:26,800 Speaker 1: lot of people in when they see the quality of 27 00:01:26,840 --> 00:01:29,160 Speaker 1: the play that's on the field. But I am excited 28 00:01:29,200 --> 00:01:32,040 Speaker 1: because it's gonna be like this World Cup style tournament 29 00:01:32,080 --> 00:01:34,240 Speaker 1: where they're grouped together in different groupings and they have 30 00:01:34,319 --> 00:01:36,000 Speaker 1: to you know, they gotta duke it out in order 31 00:01:36,040 --> 00:01:38,959 Speaker 1: to advance out of the group stage. That's exciting. You know. 32 00:01:39,160 --> 00:01:40,720 Speaker 1: It really does make me think about the World Cup, 33 00:01:40,720 --> 00:01:42,800 Speaker 1: which always gets me going. So yeah, well, I think 34 00:01:43,040 --> 00:01:45,120 Speaker 1: people are going to be into it. You know, sports 35 00:01:45,160 --> 00:01:47,520 Speaker 1: fans of all stripes, even who didn't like soccer before, 36 00:01:47,520 --> 00:01:49,200 Speaker 1: are going to tune in just because they're ready to 37 00:01:49,240 --> 00:01:52,440 Speaker 1: see some sort of sporting event at all. Right, It's funny, 38 00:01:52,480 --> 00:01:54,880 Speaker 1: similar to like how I think we talked recently about 39 00:01:54,920 --> 00:01:57,960 Speaker 1: people are betting on like almost any sort of sport, 40 00:01:58,240 --> 00:02:00,800 Speaker 1: just people that are into gambling who weren't able to 41 00:02:00,800 --> 00:02:02,600 Speaker 1: go to casinos for a while they're beending on ping 42 00:02:02,600 --> 00:02:06,040 Speaker 1: pong just because that's yeah, and I think the same 43 00:02:06,040 --> 00:02:08,640 Speaker 1: thing people are like, I like sports. I'll give soccer shot. 44 00:02:08,760 --> 00:02:10,640 Speaker 1: So it'll be interesting to see, like if the popularity 45 00:02:10,680 --> 00:02:13,480 Speaker 1: of soccer overall increases because it's the first sport back, 46 00:02:13,480 --> 00:02:15,880 Speaker 1: it's got like the spotlight on it completely for at 47 00:02:15,960 --> 00:02:18,160 Speaker 1: least a little bit of time. That's right, unless you 48 00:02:18,400 --> 00:02:21,959 Speaker 1: count competitive eating because I saw that the Nathan's Hot 49 00:02:21,960 --> 00:02:24,360 Speaker 1: Dog eating contest, you know, over the fourth of July. 50 00:02:24,680 --> 00:02:27,320 Speaker 1: They're gonna have that. It's it's gonna happen. Uh, They're 51 00:02:27,320 --> 00:02:30,120 Speaker 1: not gonna have fans, so it's gonna be not unlike soccer. 52 00:02:30,200 --> 00:02:33,240 Speaker 1: There won't be people they're cheering them on. Well, I 53 00:02:33,240 --> 00:02:36,519 Speaker 1: I say it's happening. I say competitive eating definitely a sport. 54 00:02:36,800 --> 00:02:38,680 Speaker 1: Oh my gosh, dude, I mean, could you do that? 55 00:02:38,720 --> 00:02:42,079 Speaker 1: Come on? Maybe, I think. But did you know that 56 00:02:42,160 --> 00:02:45,240 Speaker 1: it's hosted by or it's run by Major League Eating 57 00:02:45,400 --> 00:02:49,040 Speaker 1: and so it's an actual organization that overseas and governs 58 00:02:49,040 --> 00:02:51,840 Speaker 1: and regulates the different eating competitions. I got so much 59 00:02:51,880 --> 00:02:55,320 Speaker 1: respect for that. It's so ridiculous, unreal that that's an 60 00:02:55,320 --> 00:02:57,040 Speaker 1: actual thing here in the us, Like, I knew that 61 00:02:57,080 --> 00:02:58,960 Speaker 1: it was on ESPN, but I thought that was just 62 00:02:59,000 --> 00:03:01,720 Speaker 1: a one time thing that they did. Because it's like 63 00:03:01,720 --> 00:03:06,040 Speaker 1: America eating competitions. Man, Joey chest outs like the Lebron 64 00:03:06,160 --> 00:03:09,160 Speaker 1: James of eating. He is, he's impressive. I was reading 65 00:03:09,240 --> 00:03:10,960 Speaker 1: up on some of his stats. See one of like 66 00:03:11,000 --> 00:03:15,160 Speaker 1: fourteen times twelve ridiculous. Many times it's like seventy lready 67 00:03:15,200 --> 00:03:17,800 Speaker 1: hot dogs in ten minutes. Usually there's a major crowd 68 00:03:17,840 --> 00:03:20,280 Speaker 1: there though to watch, and no crowd this year. But 69 00:03:20,440 --> 00:03:23,120 Speaker 1: the eating competition will still go on, and I guarantee 70 00:03:23,120 --> 00:03:25,360 Speaker 1: you I'm gonna watch it, because man, that's just America 71 00:03:25,400 --> 00:03:27,760 Speaker 1: on the fourth of July. Right there. All right, man, 72 00:03:27,800 --> 00:03:30,440 Speaker 1: let's go ahead. Let's launch into our Friday flight. This 73 00:03:30,520 --> 00:03:33,480 Speaker 1: is our quick sampling of stories that we found interesting 74 00:03:33,520 --> 00:03:35,360 Speaker 1: this week. The first one we want to cover is 75 00:03:35,360 --> 00:03:37,440 Speaker 1: a quick update. Man. A few weeks ago, we mentioned 76 00:03:37,920 --> 00:03:40,720 Speaker 1: that looking to car rental companies might be a great 77 00:03:40,720 --> 00:03:43,920 Speaker 1: way to score a deal on a used car. Specifically, 78 00:03:43,920 --> 00:03:46,960 Speaker 1: we mentioned Hurts since they had just filed for bankruptcy 79 00:03:47,360 --> 00:03:49,760 Speaker 1: and that they might be selling off a large portion 80 00:03:49,840 --> 00:03:52,080 Speaker 1: of its fleet. Well guess what, man, it is happening. 81 00:03:52,120 --> 00:03:55,400 Speaker 1: They have over twenty thousand used cars first sale at 82 00:03:55,480 --> 00:03:58,760 Speaker 1: Hurts car Sales dot com. This is just possibly a 83 00:03:58,760 --> 00:04:00,880 Speaker 1: great way to get a good deal. I hopped on there. 84 00:04:01,240 --> 00:04:02,880 Speaker 1: I was looking at to you, the four owners. Not 85 00:04:03,000 --> 00:04:05,400 Speaker 1: that I'm going to get one of those anytime soon 86 00:04:05,560 --> 00:04:07,080 Speaker 1: or ever at all. I just like the way that 87 00:04:07,120 --> 00:04:09,680 Speaker 1: those cars look. But the prices that they had on 88 00:04:09,800 --> 00:04:13,120 Speaker 1: those vehicles were anywhere between three and ten thousand dollars 89 00:04:13,280 --> 00:04:16,160 Speaker 1: cheaper than what I was finding on CarMax. So there 90 00:04:16,160 --> 00:04:19,200 Speaker 1: are legit deals to be had if you happen to 91 00:04:19,240 --> 00:04:21,560 Speaker 1: already be in the market for a used car. Nice. Yeah, 92 00:04:21,600 --> 00:04:23,840 Speaker 1: but it's always when you're buying a used car, make 93 00:04:23,880 --> 00:04:26,480 Speaker 1: sure you have it checked out by a mechanic, right, 94 00:04:26,520 --> 00:04:28,680 Speaker 1: That's always important, all right. Next thing we wanted to 95 00:04:28,720 --> 00:04:32,159 Speaker 1: discuss was that the US just consumed more renewable energy 96 00:04:32,279 --> 00:04:34,719 Speaker 1: than cole last year. Right, man, that's the first time 97 00:04:34,720 --> 00:04:37,719 Speaker 1: this has happened since cole emerged as a fuel source 98 00:04:37,760 --> 00:04:40,440 Speaker 1: in the eighties, So we've kind of been rolling with 99 00:04:40,480 --> 00:04:42,200 Speaker 1: coal a long time. Oh, did you trick out your 100 00:04:42,240 --> 00:04:44,159 Speaker 1: niece on leaf so that when you floor, did a 101 00:04:44,160 --> 00:04:46,359 Speaker 1: bunch of black smoke come spewing out the tailpipe and 102 00:04:46,360 --> 00:04:47,919 Speaker 1: that what it's called cold rolling. Yeah, I think so, 103 00:04:47,960 --> 00:04:50,039 Speaker 1: fake black smoke out of the e V always a 104 00:04:50,040 --> 00:04:54,040 Speaker 1: good move, so stupid, yeah, but but yeah, obviously cole 105 00:04:54,080 --> 00:04:56,640 Speaker 1: has been the main fuel sources powered our country, that's 106 00:04:56,680 --> 00:05:00,400 Speaker 1: powered electricity, and last year renewables like win, solar and 107 00:05:00,480 --> 00:05:03,279 Speaker 1: hydro electric started to take over in a big way. 108 00:05:03,560 --> 00:05:05,760 Speaker 1: And the biggest growth right now is in solar and wind. 109 00:05:06,080 --> 00:05:09,560 Speaker 1: Wind Actually is is is the highest producer in renewable 110 00:05:09,600 --> 00:05:11,520 Speaker 1: energy right now in the country. So it's just cool 111 00:05:11,560 --> 00:05:14,560 Speaker 1: to see these alternative forms of energy that are much cleaner, 112 00:05:14,560 --> 00:05:17,640 Speaker 1: better for the environment to take you over and coal 113 00:05:17,720 --> 00:05:19,360 Speaker 1: kind of taking a back seat. YEA, so quick little 114 00:05:19,360 --> 00:05:22,200 Speaker 1: trivia for you. Before they found coal, they were burning 115 00:05:22,200 --> 00:05:25,320 Speaker 1: wood in these power production plants, and that crazy to 116 00:05:25,360 --> 00:05:27,240 Speaker 1: think that they were just like chopping down tree after 117 00:05:27,279 --> 00:05:29,839 Speaker 1: tree in order to, you know, bring us electricity or 118 00:05:29,839 --> 00:05:31,840 Speaker 1: not bring us. But I guess, like our great great 119 00:05:32,040 --> 00:05:35,400 Speaker 1: great grandparents, but I don't know, that just seems like 120 00:05:35,440 --> 00:05:38,880 Speaker 1: such an inefficient way to to make electricity. And I 121 00:05:38,920 --> 00:05:40,600 Speaker 1: guess they had to burn something. I mean, that's that's 122 00:05:40,640 --> 00:05:43,240 Speaker 1: what they're doing back then, but it just seems so antiquated. 123 00:05:43,600 --> 00:05:45,719 Speaker 1: And you know, thinking about renewables and how that's going 124 00:05:45,760 --> 00:05:49,040 Speaker 1: to be become more of how we receive our energy. 125 00:05:49,240 --> 00:05:51,080 Speaker 1: Man that just I agree that it's really exciting. And 126 00:05:51,120 --> 00:05:54,000 Speaker 1: I even read that they're talking about putting platforms further 127 00:05:54,080 --> 00:05:55,840 Speaker 1: out in the ocean so that like we can't even 128 00:05:55,880 --> 00:05:59,839 Speaker 1: see them with wind turbines all those platforms. That's one 129 00:05:59,839 --> 00:06:02,320 Speaker 1: of the things about about wind power right now. It's 130 00:06:02,400 --> 00:06:04,120 Speaker 1: kind of the blight that they cause. So I feel 131 00:06:04,120 --> 00:06:06,039 Speaker 1: the cool. I did a lot of people that the 132 00:06:06,080 --> 00:06:08,040 Speaker 1: sound of it though, because it's like this, don't they 133 00:06:08,080 --> 00:06:10,120 Speaker 1: make a ton of sound. We don't live anywhere near 134 00:06:10,680 --> 00:06:12,800 Speaker 1: uh wind farm, so we don't know by no folks 135 00:06:12,800 --> 00:06:15,680 Speaker 1: like out in California and Nevada or wherever they are, 136 00:06:15,720 --> 00:06:19,039 Speaker 1: I don't know, but I know they can be pretty noisy. Yeah. Yeah, Well, 137 00:06:19,160 --> 00:06:22,600 Speaker 1: and hopefully these platforms with the wind turbines just way 138 00:06:22,600 --> 00:06:25,279 Speaker 1: out there in the ocean piping that power back to us. 139 00:06:25,320 --> 00:06:27,039 Speaker 1: I mean, that's kind of an incredible thing to think about, 140 00:06:27,080 --> 00:06:29,960 Speaker 1: two considering where we were just a hundred fifty years ago. Yeah, 141 00:06:30,040 --> 00:06:32,000 Speaker 1: super cool, And so obviously this is you know, great 142 00:06:32,000 --> 00:06:33,560 Speaker 1: for our planet, but this is good news too for 143 00:06:33,600 --> 00:06:36,240 Speaker 1: our bank accounts as well, since using renewable energy, it's 144 00:06:36,240 --> 00:06:40,560 Speaker 1: becoming increasingly cost effective compared to other non renewable sources 145 00:06:40,560 --> 00:06:43,200 Speaker 1: to to the different fossil fuels, even when these renewables 146 00:06:43,240 --> 00:06:46,200 Speaker 1: must compete with the subsidies that these you know, fossil 147 00:06:46,240 --> 00:06:49,480 Speaker 1: fuels that they receive. So I think that's just super awesome. 148 00:06:49,560 --> 00:06:51,600 Speaker 1: It's really cool to see the technology, and it's only 149 00:06:51,600 --> 00:06:54,480 Speaker 1: going to increase too. This is a really exciting time 150 00:06:54,720 --> 00:06:56,880 Speaker 1: for any of us who like to be outside, you know, 151 00:06:57,040 --> 00:06:59,839 Speaker 1: enjoying nature, and just really honestly for anyone living on 152 00:06:59,839 --> 00:07:03,080 Speaker 1: our planet as well. Yeah, and it is interesting to 153 00:07:03,120 --> 00:07:05,960 Speaker 1: see the progression of the technology. A solar panels have 154 00:07:06,000 --> 00:07:08,640 Speaker 1: gotten just much better. Battery technology is getting better. I 155 00:07:08,640 --> 00:07:10,560 Speaker 1: think Tesla just said that they're going to have a 156 00:07:10,600 --> 00:07:13,160 Speaker 1: battery pretty soon where a car can go a million 157 00:07:13,160 --> 00:07:16,400 Speaker 1: miles on that battery, which is just really impressive. Yeah, 158 00:07:16,480 --> 00:07:19,280 Speaker 1: so that not without being charged, but without having to 159 00:07:19,280 --> 00:07:21,720 Speaker 1: replace it exactly exactly. Yeah, And like who goes a 160 00:07:21,760 --> 00:07:23,840 Speaker 1: million miles in a gas power car? You don't, I 161 00:07:23,840 --> 00:07:26,840 Speaker 1: mean they break down before then. Typically. So all right, Matt, 162 00:07:26,880 --> 00:07:29,040 Speaker 1: let's get onto the next topic we wanted to talk about. 163 00:07:29,120 --> 00:07:31,320 Speaker 1: Watch your credit score. This is important for people to 164 00:07:31,360 --> 00:07:34,600 Speaker 1: know that to pay particular attention to your credit score 165 00:07:34,920 --> 00:07:37,280 Speaker 1: right now. So whether you've got student loans and have 166 00:07:37,400 --> 00:07:40,040 Speaker 1: automatically had your payments suspended like the Cares Act made 167 00:07:40,120 --> 00:07:42,320 Speaker 1: provision for, or whether you've reached out directly to a 168 00:07:42,320 --> 00:07:45,080 Speaker 1: credit card or a mortgage company, your credit score should 169 00:07:45,080 --> 00:07:47,200 Speaker 1: not be heard just because you've hit pause on payments, 170 00:07:47,320 --> 00:07:50,520 Speaker 1: but some lenders are reporting those payments as missed, negatively 171 00:07:50,520 --> 00:07:52,960 Speaker 1: affecting borrowers. And so if you are current on your 172 00:07:52,960 --> 00:07:56,160 Speaker 1: payments leading up to the pandemic, your financial institution should 173 00:07:56,160 --> 00:07:58,960 Speaker 1: be honoring the law and not be reporting you as delinquent. 174 00:07:59,080 --> 00:08:01,520 Speaker 1: That's something that you need to watch out for. And 175 00:08:01,600 --> 00:08:04,000 Speaker 1: it's up to you to be paying attention to your 176 00:08:04,000 --> 00:08:07,280 Speaker 1: credit report in order to ensure that you're not being 177 00:08:07,440 --> 00:08:11,000 Speaker 1: negatively impacted by a company reporting you in the wrong manner. So, 178 00:08:11,040 --> 00:08:13,280 Speaker 1: like you said, man, what that means for our listeners 179 00:08:13,280 --> 00:08:15,280 Speaker 1: out there is to keep an eye on your credit 180 00:08:15,320 --> 00:08:17,880 Speaker 1: score and your credit reports as well. If you do 181 00:08:18,000 --> 00:08:20,320 Speaker 1: see something amiss, you know, reach out to your lender 182 00:08:20,400 --> 00:08:22,560 Speaker 1: directly in order to get it cleared up. You can 183 00:08:22,600 --> 00:08:26,040 Speaker 1: also report them to the CFPB if they refuse to cooperate, 184 00:08:26,360 --> 00:08:28,520 Speaker 1: and then you can dispute that negative mark with the 185 00:08:28,560 --> 00:08:31,640 Speaker 1: credit bureau if they aren't responding. Another reminder as well, 186 00:08:31,680 --> 00:08:33,600 Speaker 1: that you can get a free credit report, not just 187 00:08:33,640 --> 00:08:36,280 Speaker 1: your score, but the entire report for free every single 188 00:08:36,320 --> 00:08:38,840 Speaker 1: week for another year. All right, man, Let's also talk 189 00:08:38,880 --> 00:08:42,240 Speaker 1: about rising pandemic prices and we and we've certainly seen 190 00:08:42,280 --> 00:08:45,640 Speaker 1: the pandemic affect pricing on certain things. We recently talked 191 00:08:45,640 --> 00:08:49,480 Speaker 1: about the coronavirus arch arts. Some restaurants are passing on 192 00:08:49,920 --> 00:08:53,000 Speaker 1: the increase price in a line item form to to 193 00:08:53,080 --> 00:08:56,320 Speaker 1: their customers. We've seen costs like groceries going up across 194 00:08:56,360 --> 00:08:59,520 Speaker 1: the board. And economist Richard Taylor matt He wrote something 195 00:08:59,520 --> 00:09:03,280 Speaker 1: recently the New York Times about supplying demand, questioning why 196 00:09:03,400 --> 00:09:06,600 Speaker 1: some prices didn't skyrocket on items like toilet paper and 197 00:09:06,640 --> 00:09:09,040 Speaker 1: eggs in the supermarket. Yeah, the on the items that 198 00:09:09,080 --> 00:09:12,320 Speaker 1: you see missing on the shelves, right when the shelves 199 00:09:12,360 --> 00:09:14,040 Speaker 1: were barren, you know, when there were no eggs for 200 00:09:14,080 --> 00:09:16,480 Speaker 1: a minute. They're back now. Still toilet paper, I think 201 00:09:16,679 --> 00:09:19,200 Speaker 1: is spotty. But but why didn't the prices go up? 202 00:09:19,200 --> 00:09:22,079 Speaker 1: Why wasn't supplying demand at play? When it came to 203 00:09:22,120 --> 00:09:24,080 Speaker 1: the items that we buy the most, and his answer, 204 00:09:24,080 --> 00:09:26,600 Speaker 1: he boiled it down to one word, fairness. It's not 205 00:09:26,679 --> 00:09:29,880 Speaker 1: socially acceptable for a retailer to jack up the price 206 00:09:29,960 --> 00:09:32,920 Speaker 1: of a good that's experiencing a really high demand. That 207 00:09:32,960 --> 00:09:36,360 Speaker 1: feels opportunistic to most folks, and really it doesn't feel 208 00:09:36,360 --> 00:09:39,200 Speaker 1: fair to be taking advantage of in the middle of 209 00:09:39,440 --> 00:09:42,960 Speaker 1: such extenuating circumstances, especially when there's a crisis on hand. 210 00:09:43,040 --> 00:09:45,040 Speaker 1: It definitely doesn't feel like the right thing to do. 211 00:09:45,520 --> 00:09:47,679 Speaker 1: And you know, business owners, they're smart as well, and 212 00:09:47,679 --> 00:09:50,920 Speaker 1: they're taking this societal norm into accounts. So, you know, 213 00:09:50,920 --> 00:09:53,520 Speaker 1: the reason we don't see major chains gouging in the 214 00:09:53,520 --> 00:09:56,520 Speaker 1: face of rising costs is because they want you as 215 00:09:56,520 --> 00:09:58,880 Speaker 1: a customer for life. If you feel like, you know, 216 00:09:58,960 --> 00:10:02,000 Speaker 1: you are unfairly treated you or that your toilet paper 217 00:10:02,040 --> 00:10:04,800 Speaker 1: costs of you know, risen two like, you're never going 218 00:10:04,840 --> 00:10:08,080 Speaker 1: to forget that and you'll likely do your shopping for 219 00:10:08,080 --> 00:10:10,640 Speaker 1: the rest of your life, maybe at another store. So 220 00:10:10,920 --> 00:10:13,400 Speaker 1: supply and demand, you know, still works at a basic 221 00:10:13,480 --> 00:10:16,240 Speaker 1: level within the economy. It's just that major companies are 222 00:10:16,240 --> 00:10:19,640 Speaker 1: playing the long game of you know, wanting to make 223 00:10:19,640 --> 00:10:22,080 Speaker 1: sure that your business days with them for for years 224 00:10:22,120 --> 00:10:25,440 Speaker 1: to come, not only looking at the immediate supply and demand. Yeah, 225 00:10:25,600 --> 00:10:27,720 Speaker 1: this is kind of more macroeconomics, but but it affects 226 00:10:27,760 --> 00:10:30,600 Speaker 1: all of our wallets, the fact that these retailers are 227 00:10:30,600 --> 00:10:33,360 Speaker 1: paying attention to their desire to keep us around as 228 00:10:33,360 --> 00:10:35,840 Speaker 1: a customer for life, not just to score the most 229 00:10:35,880 --> 00:10:38,960 Speaker 1: revenue on that one twelve pack of toilet paper. And really, 230 00:10:39,000 --> 00:10:40,800 Speaker 1: there there is kind of an economic case to be 231 00:10:40,880 --> 00:10:44,240 Speaker 1: made for raising prices in the midst of scarcity. Higher 232 00:10:44,280 --> 00:10:47,080 Speaker 1: prices would discourage some of the panic buying that we 233 00:10:47,120 --> 00:10:50,439 Speaker 1: actually saw, especially at the beginning of COVID in in 234 00:10:50,520 --> 00:10:53,400 Speaker 1: late March early April. Especially in those initial days, we 235 00:10:53,440 --> 00:10:56,240 Speaker 1: saw people loading up on supplies that they didn't actually need, 236 00:10:56,440 --> 00:10:58,560 Speaker 1: that they were just buying out of fear, and so 237 00:10:58,640 --> 00:11:00,840 Speaker 1: raising the cost of some of those items would have 238 00:11:00,920 --> 00:11:03,960 Speaker 1: ensured that the supply would have remained at least in part. 239 00:11:04,200 --> 00:11:05,800 Speaker 1: But who's then to say that those who could have 240 00:11:05,840 --> 00:11:08,400 Speaker 1: afforded them needed them the most, right. It's always interesting 241 00:11:08,440 --> 00:11:11,080 Speaker 1: to see where humanity and economics cross paths, and in 242 00:11:11,080 --> 00:11:13,360 Speaker 1: this particular case, just kind of fascinating to see the 243 00:11:13,400 --> 00:11:16,559 Speaker 1: way that stores reacted to a pandemic and the way 244 00:11:16,559 --> 00:11:18,880 Speaker 1: that customers reacted to. Yeah. In the article, he he 245 00:11:18,920 --> 00:11:23,200 Speaker 1: mentioned another economists actually, Tyler Cowen, and he was saying 246 00:11:23,200 --> 00:11:25,680 Speaker 1: how he wishes that it was okay to raise the 247 00:11:25,679 --> 00:11:29,079 Speaker 1: prices on these goods that you know were in high demand. Uh, 248 00:11:29,080 --> 00:11:32,120 Speaker 1: and I agree, like honestly, because it would be more efficient. 249 00:11:32,240 --> 00:11:34,920 Speaker 1: It's it's the market working more efficiently. It would be 250 00:11:34,960 --> 00:11:37,640 Speaker 1: neater and cleaner. There's no sort of value calls or 251 00:11:37,679 --> 00:11:40,440 Speaker 1: judgments to be made on individuals or companies to decide 252 00:11:40,480 --> 00:11:43,360 Speaker 1: who gets it. But you can't do that right. It's 253 00:11:43,400 --> 00:11:44,920 Speaker 1: it's not cool, even though we wish that it was 254 00:11:45,120 --> 00:11:47,559 Speaker 1: nice and clean cut that way. It's not all about 255 00:11:47,559 --> 00:11:51,280 Speaker 1: the numbers. Our emotions and how we perceive things plays 256 00:11:51,280 --> 00:11:53,960 Speaker 1: into our finances so much and so like, I feel, 257 00:11:54,000 --> 00:11:56,960 Speaker 1: this is a perfect example of how we're not robots. 258 00:11:57,040 --> 00:12:00,679 Speaker 1: You know, We're not only number crunching machines. Uh. Feel things, 259 00:12:01,040 --> 00:12:03,160 Speaker 1: and when we feel things, that also leads us to 260 00:12:03,200 --> 00:12:05,720 Speaker 1: make other decisions down the road, and that may or 261 00:12:05,760 --> 00:12:08,280 Speaker 1: may not lead to us continuing to do business with 262 00:12:08,280 --> 00:12:10,120 Speaker 1: a retailer. Yeah, if I got charged a hundred bucks 263 00:12:10,200 --> 00:12:12,200 Speaker 1: for a twelve pack of TP I would never forget it. 264 00:12:12,280 --> 00:12:14,800 Speaker 1: And even though it was efficient, exactly, yeah, that would suck. 265 00:12:14,880 --> 00:12:17,000 Speaker 1: It doesn't matter how efficient it is. That's just wrong, 266 00:12:17,480 --> 00:12:19,360 Speaker 1: all right, Matt. Well, we're gonna talk more later on 267 00:12:19,360 --> 00:12:22,280 Speaker 1: in the episode about how emotion plays into our finances 268 00:12:22,280 --> 00:12:24,559 Speaker 1: in particular when it comes to investing, and that plays 269 00:12:24,600 --> 00:12:26,120 Speaker 1: a huge role in particular when it comes to the 270 00:12:26,160 --> 00:12:28,760 Speaker 1: free investing apps. So we'll talk about that right after 271 00:12:28,800 --> 00:12:39,240 Speaker 1: the break. We're back from the break. We were just 272 00:12:39,240 --> 00:12:41,599 Speaker 1: talking about price couching and shortages, and Matt, you know 273 00:12:41,640 --> 00:12:44,360 Speaker 1: what I can't find on the shelves right now. Yeast Yeast. 274 00:12:44,559 --> 00:12:46,520 Speaker 1: We're trying to make bread Man and there's no yeast. 275 00:12:46,520 --> 00:12:47,640 Speaker 1: And if they would just jack up the price a 276 00:12:47,640 --> 00:12:49,400 Speaker 1: little bit on yeast, maybe I could get something. So 277 00:12:49,440 --> 00:12:51,720 Speaker 1: if anybody out there has a lead knows where I 278 00:12:51,720 --> 00:12:53,520 Speaker 1: can score some yeast, let me know. Well, that's a 279 00:12:53,520 --> 00:12:55,000 Speaker 1: bummer you can't find yeast man. But that's cool that 280 00:12:55,000 --> 00:12:56,640 Speaker 1: you guys are still making bread. I feel like that's 281 00:12:56,640 --> 00:12:58,600 Speaker 1: still kind of like a holdover from the lockdown. Didn't 282 00:12:58,600 --> 00:13:00,160 Speaker 1: I didn't know you guys were still on that on 283 00:13:00,200 --> 00:13:03,920 Speaker 1: that train yea storebot bread. Now it's kind of stuff. 284 00:13:04,800 --> 00:13:06,000 Speaker 1: In a lot of ways, it does feel like our 285 00:13:06,080 --> 00:13:09,800 Speaker 1: last have kind of returned to, you know, somewhat normalcy, 286 00:13:09,840 --> 00:13:12,960 Speaker 1: but we're also still seeing the effects of the pandemic, 287 00:13:13,280 --> 00:13:15,920 Speaker 1: and we're also seeing effects of a widely turbulent stock 288 00:13:15,920 --> 00:13:19,080 Speaker 1: market as well. Man, Speculation right now is rampant. A 289 00:13:19,120 --> 00:13:22,000 Speaker 1: lot of individual investors have been treading the stock market 290 00:13:22,120 --> 00:13:24,880 Speaker 1: almost like it's Vegas, right. There are huge risks being 291 00:13:24,920 --> 00:13:28,319 Speaker 1: taken right now, and some stocks and ETFs they're fluctuating 292 00:13:28,360 --> 00:13:31,640 Speaker 1: a lot because of the act of trading speculation in 293 00:13:31,679 --> 00:13:34,280 Speaker 1: the stock market. Like we know, that's not anything that's new, 294 00:13:34,600 --> 00:13:37,160 Speaker 1: but we've never seen it like we have at this 295 00:13:37,320 --> 00:13:39,880 Speaker 1: level currently. And part of the reason is because of 296 00:13:39,880 --> 00:13:44,240 Speaker 1: the complete democratization of stock trading. Over the past few years, 297 00:13:44,559 --> 00:13:46,400 Speaker 1: there has been a huge increase in the number of 298 00:13:46,559 --> 00:13:50,280 Speaker 1: free investing apps. And while we're all about the democratization 299 00:13:50,480 --> 00:13:54,400 Speaker 1: of opportunity for everyone to invest, there are some downsides 300 00:13:54,440 --> 00:13:57,160 Speaker 1: associated with this free apps. Yeah, no doubt, man. We 301 00:13:57,240 --> 00:13:59,960 Speaker 1: talked about this a little bit back in episode twenty nine. 302 00:14:00,160 --> 00:14:03,400 Speaker 1: People might be asking, what's so bad about these handy apps. 303 00:14:03,679 --> 00:14:05,760 Speaker 1: They must only be good, right if they're allowing me 304 00:14:05,800 --> 00:14:08,920 Speaker 1: access to free trades. Well, those micro investing apps do 305 00:14:09,160 --> 00:14:11,760 Speaker 1: have some perks. There's some really good things about them. 306 00:14:11,920 --> 00:14:14,280 Speaker 1: One of the biggest downsize is the reduced friction involved 307 00:14:14,320 --> 00:14:17,000 Speaker 1: in the overall process. When you're using one of those apps. 308 00:14:17,040 --> 00:14:20,280 Speaker 1: It just makes everything so easy buying and selling stocks, 309 00:14:20,280 --> 00:14:22,560 Speaker 1: et s and mutual funds. It feels like it's posting 310 00:14:22,640 --> 00:14:25,840 Speaker 1: on Instagram. Right, It's so easy just to to take 311 00:14:25,880 --> 00:14:27,520 Speaker 1: a pick that I just took on my kids popping 312 00:14:27,600 --> 00:14:30,240 Speaker 1: up on Instagram. Boom, I'm done, and buying and selling 313 00:14:30,280 --> 00:14:33,560 Speaker 1: stocks feels almost the exact same. And in one sense, Matt, 314 00:14:33,600 --> 00:14:36,360 Speaker 1: I love how easy it is, right that that it's 315 00:14:36,400 --> 00:14:38,600 Speaker 1: not terribly difficult, that I don't have to go through 316 00:14:38,640 --> 00:14:40,960 Speaker 1: some sort of archaic nine nineties website. Yeah, you don't 317 00:14:41,000 --> 00:14:45,280 Speaker 1: have to make an eight call, right stockholders, right? Yeah, 318 00:14:45,320 --> 00:14:47,560 Speaker 1: But but it's also not great for us because we 319 00:14:47,600 --> 00:14:50,520 Speaker 1: are human beings who tend to overuse something that's easy, 320 00:14:50,720 --> 00:14:53,680 Speaker 1: which can lead to negative future investment results if you're 321 00:14:53,680 --> 00:14:56,160 Speaker 1: investing without a plan. And so yeah, that's the biggest 322 00:14:56,200 --> 00:14:59,720 Speaker 1: downside to those investing apps that are awesome just behaviorally, 323 00:14:59,760 --> 00:15:01,960 Speaker 1: it can be terrible for us. It makes me think 324 00:15:01,960 --> 00:15:04,480 Speaker 1: of like when I buy coffee filters, which is I 325 00:15:04,520 --> 00:15:06,640 Speaker 1: do that on my phone. When I opened the cabinet 326 00:15:06,720 --> 00:15:09,040 Speaker 1: and we're getting low on coffee filters, I flip over 327 00:15:09,040 --> 00:15:12,200 Speaker 1: to Amazon Boom I placed that order. So convenient. I 328 00:15:12,240 --> 00:15:15,000 Speaker 1: freaking love it. But having that app on my phone 329 00:15:15,080 --> 00:15:17,480 Speaker 1: it's dangerous because it's it makes it more likely for 330 00:15:17,520 --> 00:15:21,320 Speaker 1: me to overuse Amazon specifically and buy stuff that either 331 00:15:21,400 --> 00:15:23,880 Speaker 1: I wouldn't normally buy on there, or that I would 332 00:15:23,880 --> 00:15:26,600 Speaker 1: buy on there without really price comparing, right, And so 333 00:15:26,720 --> 00:15:29,680 Speaker 1: in one sense, it's so convenient, makes it really easy 334 00:15:29,720 --> 00:15:32,200 Speaker 1: for me to buy some some chemics filters because I 335 00:15:32,240 --> 00:15:34,200 Speaker 1: want to make sure we keep the coffee flowing. But 336 00:15:34,240 --> 00:15:36,280 Speaker 1: like you said, there's certainly a negative when something is 337 00:15:36,320 --> 00:15:39,560 Speaker 1: too easy. Also, there's another downside too. Not only do 338 00:15:39,640 --> 00:15:42,640 Speaker 1: these apps make treating easy and almost even fun, right, 339 00:15:43,120 --> 00:15:45,600 Speaker 1: let's not forget as well that they're free. Uh. Dan 340 00:15:45,640 --> 00:15:48,160 Speaker 1: Egan from Betterment He had a great article about this, 341 00:15:48,480 --> 00:15:51,080 Speaker 1: discussing how our brains react to free You know, we 342 00:15:51,120 --> 00:15:54,760 Speaker 1: do some really dumb things when we offered something without charge. 343 00:15:55,000 --> 00:15:57,600 Speaker 1: For example, we're willing to pay more overall in order 344 00:15:57,640 --> 00:16:00,160 Speaker 1: to score free shipping. Well, even waste a heck, of 345 00:16:00,200 --> 00:16:02,960 Speaker 1: a lot of time in order to get something miniscule 346 00:16:03,040 --> 00:16:06,160 Speaker 1: for free as well. Again, there's nothing inherently wrong with 347 00:16:06,200 --> 00:16:08,440 Speaker 1: trading for free. In fact, like it's great. You know, 348 00:16:08,480 --> 00:16:10,200 Speaker 1: we love it, and we love some of the companies 349 00:16:10,240 --> 00:16:12,160 Speaker 1: that are leading the effort on this as well. It's 350 00:16:12,200 --> 00:16:14,920 Speaker 1: just that it can cause us to overtrade and to 351 00:16:15,000 --> 00:16:17,560 Speaker 1: be more active when a more passive role is really 352 00:16:17,600 --> 00:16:19,320 Speaker 1: what's going to be best for us and and best 353 00:16:19,360 --> 00:16:21,920 Speaker 1: for our retirement. Yeah. Man, that makes me think of 354 00:16:21,920 --> 00:16:23,560 Speaker 1: of a friend who got a chair off the side 355 00:16:23,560 --> 00:16:25,640 Speaker 1: of the road. She brought it home. It was really pretty, 356 00:16:25,840 --> 00:16:29,000 Speaker 1: but then it ended up that that chair had bedbugs. Gross. Yeah. 357 00:16:29,320 --> 00:16:32,840 Speaker 1: So sometimes do you live in New York? No? Really? Yeah, 358 00:16:32,840 --> 00:16:35,160 Speaker 1: I know she lives lovely, no way. Yeah, I feel 359 00:16:35,160 --> 00:16:37,880 Speaker 1: like bedbugs are like common and you know, high density areas, 360 00:16:37,880 --> 00:16:39,800 Speaker 1: but I've never heard of bed bugs here in Atlanta. Yeah. Well, 361 00:16:39,800 --> 00:16:42,560 Speaker 1: I think it happens sometimes, but nice warning. Yeah well, 362 00:16:42,600 --> 00:16:44,400 Speaker 1: I mean I think too. It's important to know that 363 00:16:44,440 --> 00:16:47,040 Speaker 1: the potential downsides of getting something for free. In our brain, 364 00:16:47,080 --> 00:16:49,360 Speaker 1: when we hear something for free, we just automatically assume 365 00:16:49,400 --> 00:16:52,440 Speaker 1: that it's only positive when there are potential downsides. Of 366 00:16:52,520 --> 00:16:55,600 Speaker 1: something being free, right, And so our advice is to 367 00:16:55,800 --> 00:16:58,840 Speaker 1: avoid speculation right during a time when we're seeing the 368 00:16:58,960 --> 00:17:02,360 Speaker 1: most speculation on these free trading apps. Matt, you and I, 369 00:17:02,440 --> 00:17:05,640 Speaker 1: we recommend that people should do the sure thing by 370 00:17:05,720 --> 00:17:08,680 Speaker 1: widely diversified, low cost index funds and hold them forever. 371 00:17:08,880 --> 00:17:10,760 Speaker 1: And if you're really really interested in the market and 372 00:17:10,800 --> 00:17:13,119 Speaker 1: you want to do a little more trading, well, then 373 00:17:13,119 --> 00:17:15,359 Speaker 1: we would suggest to use at most five percent of 374 00:17:15,400 --> 00:17:18,000 Speaker 1: your overall investment portfolio to play around in the market. 375 00:17:18,160 --> 00:17:20,359 Speaker 1: Preferably though just one or two percent. We don't want 376 00:17:20,400 --> 00:17:23,840 Speaker 1: you dedicating much of your overall investment portfolio to speculative 377 00:17:23,880 --> 00:17:26,320 Speaker 1: short term trading. And you may see new stories or 378 00:17:26,320 --> 00:17:29,320 Speaker 1: posts on Reddit of people making quick, big money, right, 379 00:17:29,400 --> 00:17:32,280 Speaker 1: But often what you aren't seeing are the thousands and 380 00:17:32,359 --> 00:17:35,400 Speaker 1: thousands of people who lost their savings or their retirement 381 00:17:35,400 --> 00:17:37,639 Speaker 1: and nestagging in the market. Those people aren't keen to 382 00:17:37,640 --> 00:17:40,760 Speaker 1: post about their crappy outcome. Right. It's like Instagram, you 383 00:17:40,760 --> 00:17:44,120 Speaker 1: don't see the kids crying in the pictures from your vacation. 384 00:17:44,280 --> 00:17:46,240 Speaker 1: That's just like people don't post that stuff. So be 385 00:17:46,280 --> 00:17:48,639 Speaker 1: aware for every post you see of someone claiming that 386 00:17:48,680 --> 00:17:51,359 Speaker 1: they made big money through day trading, through speculative trading, 387 00:17:51,520 --> 00:17:54,639 Speaker 1: there are fifty others who had the exact opposite outcome. 388 00:17:54,840 --> 00:17:56,800 Speaker 1: That's right, man, I totally agree. Only be willing to, 389 00:17:56,920 --> 00:17:59,080 Speaker 1: you know, play and invest money like that that you'd 390 00:17:59,080 --> 00:18:01,800 Speaker 1: be willing to completely lose because there's a good chance 391 00:18:01,880 --> 00:18:04,200 Speaker 1: that would happen while you're able to you know, keep 392 00:18:04,280 --> 00:18:07,280 Speaker 1: your actual retirement safe. Actually makes me kind of think 393 00:18:07,320 --> 00:18:09,320 Speaker 1: of like dieting a little bit. It's easy to get 394 00:18:09,359 --> 00:18:12,880 Speaker 1: pulled into fads and trends of what you know folks 395 00:18:12,920 --> 00:18:15,679 Speaker 1: are doing with their diet, but instead like focus on 396 00:18:15,680 --> 00:18:18,399 Speaker 1: what you know works right, like eating healthy, nutritious food 397 00:18:18,920 --> 00:18:20,479 Speaker 1: and not too much of it, like you know that 398 00:18:20,480 --> 00:18:23,439 Speaker 1: that's proven, and stick with that. Like that's what we 399 00:18:23,480 --> 00:18:26,359 Speaker 1: recommend when it comes to dieting, That's what we recommend 400 00:18:26,359 --> 00:18:28,240 Speaker 1: when it comes to investing as well. Let's stick with 401 00:18:28,280 --> 00:18:30,720 Speaker 1: what we know works, low cost index funds that we 402 00:18:30,800 --> 00:18:33,960 Speaker 1: hang on to forever and jil. Since we're talking about investing, 403 00:18:34,000 --> 00:18:36,720 Speaker 1: let's touch on sustainable investing as well. It's it seems 404 00:18:36,720 --> 00:18:38,880 Speaker 1: to be gaining more traction right now, and you see 405 00:18:38,920 --> 00:18:40,879 Speaker 1: it in the headlines a little bit more and maybe 406 00:18:40,920 --> 00:18:44,240 Speaker 1: for good reason to. According to Morning Star Sustainable Investing, 407 00:18:44,240 --> 00:18:48,239 Speaker 1: it's taking off. They have outperformed the overall market in 408 00:18:48,280 --> 00:18:52,560 Speaker 1: recent years. So we should all flock to sustainable investment funds, right, 409 00:18:53,200 --> 00:18:56,840 Speaker 1: Not necessarily, you know, like the disclaimers always read, past 410 00:18:56,880 --> 00:18:59,879 Speaker 1: performance is not indicative of future returns, and so we 411 00:19:00,000 --> 00:19:03,000 Speaker 1: would be wary of any new trend that you see 412 00:19:03,000 --> 00:19:06,560 Speaker 1: in the headlines. Yeah, Matt, sustainable investing. Obviously, it sounds 413 00:19:06,640 --> 00:19:08,200 Speaker 1: nice and it's something that you and I we talked 414 00:19:08,200 --> 00:19:10,440 Speaker 1: about a lot about in episode ninety seven. There's a 415 00:19:10,440 --> 00:19:12,240 Speaker 1: whole lot of nuance when it comes to this topic. 416 00:19:12,320 --> 00:19:14,159 Speaker 1: So if you want to learn more about that, go 417 00:19:14,280 --> 00:19:17,000 Speaker 1: check out that episode. If you really want to invest 418 00:19:17,040 --> 00:19:20,600 Speaker 1: in companies that prioritize sustainable practices, well we do love 419 00:19:20,680 --> 00:19:24,080 Speaker 1: in one. They've got a Responsible Investing Pies and that's 420 00:19:24,080 --> 00:19:26,600 Speaker 1: definitely something to to take a look at. And Matt, 421 00:19:26,640 --> 00:19:29,040 Speaker 1: of course you and I were all about companies behaving 422 00:19:29,080 --> 00:19:32,080 Speaker 1: responsibly and supporting the companies that do that. It's just 423 00:19:32,160 --> 00:19:35,359 Speaker 1: that each of these funds run by different investment houses, 424 00:19:35,760 --> 00:19:38,560 Speaker 1: they make different calls on what sustainable means, right, So 425 00:19:38,600 --> 00:19:41,320 Speaker 1: oil companies are understandably left out of pretty much all 426 00:19:41,400 --> 00:19:44,680 Speaker 1: these funds, but other companies that maybe mind customer data 427 00:19:44,880 --> 00:19:48,960 Speaker 1: or use unethical overseas manufacturing procedures could be left in 428 00:19:49,040 --> 00:19:51,199 Speaker 1: many of these funds. It's really up to the fund manager. 429 00:19:51,200 --> 00:19:54,240 Speaker 1: And so sustainable doesn't mean the same thing everywhere you go. 430 00:19:54,560 --> 00:19:57,240 Speaker 1: So that's something to be aware of as you'll see 431 00:19:57,280 --> 00:19:59,359 Speaker 1: more and more about these funds in the future. They're 432 00:19:59,359 --> 00:20:01,919 Speaker 1: just becoming more popular. They're they're so hot right now. 433 00:20:01,920 --> 00:20:04,040 Speaker 1: I would say, and uh, and yeah, it's just one 434 00:20:04,080 --> 00:20:06,280 Speaker 1: of those things where it's not a bad idea to 435 00:20:06,320 --> 00:20:09,120 Speaker 1: be invested in some sort of total stock market sustainable fund. 436 00:20:09,280 --> 00:20:11,119 Speaker 1: If some of our listeners are investing in that way, 437 00:20:11,160 --> 00:20:13,080 Speaker 1: I wouldn't knock them for it. I would just say 438 00:20:13,119 --> 00:20:14,639 Speaker 1: be aware. You're gonna hear a lot of buzz and 439 00:20:14,640 --> 00:20:16,280 Speaker 1: if you want to go in that direction, there's just 440 00:20:16,359 --> 00:20:19,240 Speaker 1: even more research and due diligence that that needs to 441 00:20:19,280 --> 00:20:21,359 Speaker 1: happen on your end before you partake in one of 442 00:20:21,400 --> 00:20:23,119 Speaker 1: these funds. And so you know you mentioned the m 443 00:20:23,119 --> 00:20:25,879 Speaker 1: one pies, Well, they have a great app that you 444 00:20:25,880 --> 00:20:27,520 Speaker 1: can use. You know, we're kind of like knocking on 445 00:20:27,560 --> 00:20:29,640 Speaker 1: all these different apps earlier. But if you are investing 446 00:20:29,640 --> 00:20:32,439 Speaker 1: in a way that is focused on the long term, right, 447 00:20:32,480 --> 00:20:35,119 Speaker 1: You're not looking for these quick gains based on fluctuations 448 00:20:35,160 --> 00:20:37,399 Speaker 1: in the market. And one their app is a great 449 00:20:37,440 --> 00:20:39,800 Speaker 1: way to to get investing because no matter what, it 450 00:20:39,840 --> 00:20:42,280 Speaker 1: is important to start investing now. You don't need to 451 00:20:42,280 --> 00:20:44,159 Speaker 1: try to time the market. You might be concerned with 452 00:20:44,240 --> 00:20:47,679 Speaker 1: the fluctuations that we're seeing in the market, but regardless, now, 453 00:20:48,000 --> 00:20:50,800 Speaker 1: whenever you're hearing this, it is now is always the 454 00:20:50,800 --> 00:20:53,800 Speaker 1: best time to get investing if you're not already investing. 455 00:20:54,080 --> 00:20:55,760 Speaker 1: But again, you want to make sure that you're focused 456 00:20:55,840 --> 00:20:58,879 Speaker 1: on widely diversified index funds, and you can do that 457 00:20:59,000 --> 00:21:00,800 Speaker 1: through the m one app. You've got a good article 458 00:21:00,920 --> 00:21:02,199 Speaker 1: up there on the site and we'll make sure that 459 00:21:02,240 --> 00:21:04,200 Speaker 1: we linked to that in our show notes. Yeah, Matt. 460 00:21:04,240 --> 00:21:06,480 Speaker 1: Of course, our website is how to money dot com 461 00:21:06,520 --> 00:21:07,800 Speaker 1: and that's going to do it for this episode. We 462 00:21:07,840 --> 00:21:10,199 Speaker 1: would also appreciate it if any listeners out there who 463 00:21:10,200 --> 00:21:12,960 Speaker 1: haven't left review yet would leave us a nice review 464 00:21:13,040 --> 00:21:15,760 Speaker 1: over on Apple Podcast. We got the best listeners out there, man. 465 00:21:15,760 --> 00:21:18,520 Speaker 1: I think we just recently hit two thousand reviews. Lots 466 00:21:18,560 --> 00:21:20,400 Speaker 1: of really that, lots of really kind words on there, 467 00:21:20,440 --> 00:21:23,800 Speaker 1: so we we really appreciate everybody listening and sticking with 468 00:21:23,840 --> 00:21:25,760 Speaker 1: the podcast, and we'll continue to do our best to 469 00:21:25,800 --> 00:21:28,800 Speaker 1: share helpful information with you every week. That's right, man, 470 00:21:28,840 --> 00:21:31,359 Speaker 1: So that's gonna be it until next time, Buddy, Best 471 00:21:31,560 --> 00:21:33,280 Speaker 1: Friends Out, Best Friends Out,