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Speaker 1: Welcome to How the Money. I'm Joel and I am Matt.

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Speaker 1: Today we're discussing holiday flight advice, inflation reduction reactions, and

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Speaker 1: Aldi at the Altar. That's right, listeners, you heard that,

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Speaker 1: rights Aldi at the Altar. I'm sure some of y'all

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Speaker 1: may have heard about this story, but I am looking

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Speaker 1: forward to talking about that later on during this episode,

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Speaker 1: thinking about getting remarried just so we can take advantage

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Speaker 1: of this. Oh man, We've got a lot of great

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Speaker 1: stories during this episode, and this is our Friday flight

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Speaker 1: where we go over some of the most important stories

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Speaker 1: that we think pertained to you and your money. Joel,

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Speaker 1: I've got a little surprise for you. Actually, is it money?

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Speaker 1: It is not? Was it last week that we were

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Speaker 1: talking about your toilet? Oh? Yeah, I think it was

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Speaker 1: last last Friday? No? Was it? Was it? Or was

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Speaker 1: it two weeks? I can't remember. Recently we were talking

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Speaker 1: about your toilets at your house and you're talking about

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Speaker 1: how they're they're like even just been on Wednesday? Sicken?

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Speaker 1: Or was it Wednesday? Man? Within the world of podcasting,

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Speaker 1: there's this weird time warps, and sometimes time isn't what

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Speaker 1: it is in podcast land, as it is in real

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Speaker 1: life either way. Yesterday, you and Emily y'all went out

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Speaker 1: on your date night, and I went to the bathroom

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Speaker 1: while I was there at your house, and I remember

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Speaker 1: that I said that I would look at your toilets.

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Speaker 1: So I thought, all right, let me go ahead and

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Speaker 1: take a look at this thing. And I did notice

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Speaker 1: that it was still running. That's why. That's what I

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Speaker 1: guess made me think of it. And so I did

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Speaker 1: take a look at it, and I think I figured

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Speaker 1: it out. What is it? It? Okay, So first off,

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Speaker 1: thank you, if you're welcome. This is something I knew

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Speaker 1: you'd be happy about, because obviously, when you're toilet runs,

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Speaker 1: you waste water and that loses you money. But when

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Speaker 1: you press the lever the toilet, the flushed lever, the

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Speaker 1: rod or whatever on your toilet, the end of that

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Speaker 1: rod within the tank, it gets pushed upwards and it

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Speaker 1: gets wet against the bottom side of the lid of

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Speaker 1: your toilet, and so it doesn't Because you were saying

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Speaker 1: something about the flapper, perhaps it's not the flapper that's

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Speaker 1: getting stuck. It's the actual flush arm that pulls the

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Speaker 1: chain that lifts the flapper. So this is where I

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Speaker 1: need your engineering skills, and so what that basically I

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Speaker 1: thought about it. I didn't do any of this because

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Speaker 1: I'm gonna let you do it. But I think the

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Speaker 1: way that you can quickly saw this is just by

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Speaker 1: shortening your chain, because if you shorten your chain, then

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Speaker 1: when you press the lever, it won't go up as

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Speaker 1: far because the flapper will catch it, and then the

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Speaker 1: lever won't get wedged up against the ceramic because it's

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Speaker 1: like this rough, kind of grippy ceramic, you know, on

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Speaker 1: the bottom side, like there's no glaze there. On the top,

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Speaker 1: it's shiny and short. In the chain on the underside

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Speaker 1: it's real grippy. And so yeah, that's what's happening, is

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Speaker 1: that the end of your lever it's getting caught up there,

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Speaker 1: which is probably why anytime you've lifted the lid of

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Speaker 1: your toilet, you're looking at it and you're like, well,

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Speaker 1: nothing's wrong, because when you lift the like I've never

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Speaker 1: had I've like fixed the flush foul before, I've fixed

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Speaker 1: the flappers before, and so I'm like, those are the

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Speaker 1: only two things I know that really go wrong with toilets.

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Speaker 1: When you pull the lid off, it drop because it

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Speaker 1: releases the pressure, it comes unjammed basically, so all right,

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Speaker 1: all right, I'm gonna I'm gonna shorten the change, So

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Speaker 1: the changes needs to be tighter. Basic, That's what I

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Speaker 1: would do it, because then the lever won't have to

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Speaker 1: flesh as high and it won't get stuck. And um,

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Speaker 1: if your advice does not actually prove to be true, Um,

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Speaker 1: where do I go? You can you can call a plumbers.

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Speaker 1: It's a it's a weird design thing. I guess on

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Speaker 1: this toilet switched. They're nice toilets. They what are they like,

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Speaker 1: delta or moan or something like that. They seem they

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Speaker 1: seem nice, but I'm like, they seem perfectly fine out

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Speaker 1: it's the but yes, it's the flushed lever or whatever.

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Speaker 1: So I guess if you want to get beastie with it,

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Speaker 1: you could kind of like just bend it down. That's true,

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Speaker 1: but I would I would try shortening the chain before

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Speaker 1: I start bending metal. And this is why everyone out

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Speaker 1: there needs a friend who has skills that they don't possess.

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Speaker 1: You're you do have like an eye for mechanical stuff

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Speaker 1: that we are We're very complimentary because there are a

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Speaker 1: lot of things that you are quite gifted at that

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Speaker 1: I can't do. We balanced each other out, my friend,

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Speaker 1: We do all right. Well, thank you for taking a

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Speaker 1: look at that. I didn't tell you last night because

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Speaker 1: I wanted to save it for the show today. Well,

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Speaker 1: I will let you know how it goes. I hope

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Speaker 1: it goes well, hope I can fix it. And yeah,

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Speaker 1: we'll not have a safe issue anymore, save some water exactly,

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Speaker 1: and some money. But all right, let's let's move on that.

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Speaker 1: Let's get to the sampling of stories we found interesting

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Speaker 1: this week our Friday flights, and let's start off with

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Speaker 1: a story about e bikes. We're gonna talk about a

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Speaker 1: lot about electric vehicles and e bikes in today's episode.

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Speaker 1: And um, there's just been a lot of new stories

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Speaker 1: in that vein this week. And clearly, Matt, you and

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Speaker 1: I were all about brainwashing our listeners into biking more,

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Speaker 1: and e bikes are a part of that. Totally cool

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Speaker 1: with you getting an ebike if you're going to use it. Well,

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Speaker 1: the Wall Street Journal just ran a story about ebikes

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Speaker 1: this week and they mentioned that almost twice as many

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Speaker 1: ebikes were sold last year then electric vehicles, and so

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Speaker 1: I thought that was pretty impressive and made me think

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Speaker 1: that ebikes just aren't getting enough press, right, and so

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Speaker 1: something along the lines of eight hundred and eighty thousand

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Speaker 1: e bikes were sold in the United States last year,

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Speaker 1: which is amazing. It's very impressive number of bikes, and

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Speaker 1: and the story kind of details some of the things

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Speaker 1: about e bikes that we have known. But let's talk

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Speaker 1: about it for a second, because they've just gotten so

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Speaker 1: much better over the past, even just past five years.

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Speaker 1: Battery and other component improvements have made we would say,

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Speaker 1: e bikes more worthy of your consideration, and prices have

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Speaker 1: gone down in a meaningful way too, So they're just

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Speaker 1: making more and more sense for all sorts of people

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Speaker 1: to use on the leg right given their car a

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Speaker 1: much need to break and potentially ditching a car altogether

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Speaker 1: from their lives. And by the way, if you've got kiddos,

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Speaker 1: it's probably smart to opt for a cargo e bike

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Speaker 1: and uh Wagon and the Wagon. I I ride the

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Speaker 1: rad Wagon, which is by rad Power Bikes. Actually broote

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Speaker 1: an article about why it's such a great bike upon

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Speaker 1: our site. Will link to that in the show notes.

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Speaker 1: But if you're one of those folks who has yet

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Speaker 1: to plunge into the e bike world. We think you

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Speaker 1: should consider it totally. And I will readily admit that

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Speaker 1: I used to be an ebike hater and I still

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Speaker 1: don't have an e bike. I only have fully muscle

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Speaker 1: powered or not. I don't want to make it sound

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Speaker 1: like you don't use human power, just just no no

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Speaker 1: battery assist Uh no, that's going on. But an interesting

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Speaker 1: quote in that article that that's stood to me was

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Speaker 1: like the owner of an ebike shop was like, don't

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Speaker 1: think of it as a heavy bike, think of it

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Speaker 1: as a really light electric vehicle. Which, yeah, like, of

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Speaker 1: course that's what the guy who is selling e bikes

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Speaker 1: how he's going to position it. But then I thought

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Speaker 1: about it for a second and I realized that it

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Speaker 1: made a ton of sense, right, because typically we use

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Speaker 1: our cars to get around town. But if you think

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Speaker 1: about the cars that we drive, right, like nine of

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Speaker 1: cars out there are designed to be able to travel

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Speaker 1: on the interstate, pretty much as the ones that look

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Speaker 1: like Mattmobiles and like they're they're pretty much all like

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Speaker 1: all the cars out there are capable of going like

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Speaker 1: even though you probably shouldn't be driving that fast. And

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Speaker 1: it's crazy that we use those exact same vehicles to

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Speaker 1: quickly run over to our friend's house or under the

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Speaker 1: grocery store. So an illustration like that, what it made

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Speaker 1: me think of is like, imagine if you've got an

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Speaker 1: apple and you want to peel that apple, but you

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Speaker 1: don't have a pairing knife, and you don't even have

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Speaker 1: a chef's knife. All you've got is a chainsaw because

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Speaker 1: occasionally you need to cut some branches off true ease.

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Speaker 1: It's very effective at doing that, because you do I

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Speaker 1: sculptures in the winter exactly. Um, but it's it's the

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Speaker 1: wrong tool for the job for when like if you're

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Speaker 1: just trying to peel an apple, and when it comes

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Speaker 1: to the daily trips that we like, whether it's like

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Speaker 1: dropping the kids off at school or running to Aldi

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Speaker 1: to grab a gallon of milk, I think the vehicles

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Speaker 1: that we use are ill suited. Like yes, they get

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Speaker 1: the job done, Like yes, I guess it's overkill. It's

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Speaker 1: it's a dude, it's overkill. That's exactly the point I'm

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Speaker 1: getting at. And this is where not only bikes but

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Speaker 1: but e bikes. Somewhere, you know a vehicle that's in

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Speaker 1: between you walking, which would take the most effort right

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Speaker 1: and going to the grocery store versus the easiest option,

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Speaker 1: which would be you know, getting in your dollar s

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Speaker 1: UV to pick up or exactly. Anyway, I wanted to

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Speaker 1: mention that because I think that's maybe a helpful way

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Speaker 1: to think about it. I am going to join up

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Speaker 1: with that guy and say that, yes, think of this

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Speaker 1: as a very affordable, lightweight, very maneuverable electric vehicle that

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Speaker 1: can eliminate a lot of trips in your day to

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Speaker 1: day life. Yea, and it can save you a lot

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Speaker 1: of money. And I think another reason Matt to consider

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Speaker 1: an e bike instead of let's say, an electric vehicle

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Speaker 1: is is because the prices of electric vehicles are skyrocket

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Speaker 1: right now. They're on the rise in a big way.

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Speaker 1: And Ford just raise the price of its Ford Lightning

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Speaker 1: by something like seven to eight thousand dollars, depending on

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Speaker 1: like what sort of model you choose. And I think

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Speaker 1: those pickup trucks are awesome. But part of the reason

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Speaker 1: they were great is because they started at forty grand

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Speaker 1: and you could get a federal tax credit to go

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Speaker 1: along with it, making it something like a thirty three

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Speaker 1: thousand dollar trucks, right, which is is pretty impressive. I'm

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Speaker 1: considering that it's gonna you know, save you in gas

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Speaker 1: and maintenance costs. Part of it is you're supplying Deman

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Speaker 1: has a lot to do with that price jump, But

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Speaker 1: the average EV price tag is almost sixty three dollars

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Speaker 1: right now, and too much. It's way too much money, right.

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Speaker 1: We like electric vehicles, but not at that price point.

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Speaker 1: And another big reason for that spike is is the

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Speaker 1: cost of raw materials to make those garga into a batteries,

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Speaker 1: so that those those price bum and what else, Nickel,

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Speaker 1: that's like the new one or graph fight now the

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Speaker 1: graph fights the new mineral that they're like, oh yeah,

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Speaker 1: you need graph flight as well. And those those minerals

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Speaker 1: are harder to come by now, which are making it

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Speaker 1: more expensive to produce those batteries. And again, you and

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Speaker 1: I we think electric hicles are awesome. We we kind

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Speaker 1: of think they're going to be the future, right and

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Speaker 1: the gas gas powered cars are gonna go away over time,

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Speaker 1: and that buying one, you know, can save you money

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Speaker 1: on maintenance and gas over the years. But yeah, just

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Speaker 1: not when we're talking about spending sixty plus thousand dollars

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Speaker 1: on one. That's that's insane. You're basically taking out a

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Speaker 1: mortgage in order to in order to buy an electric vehicle.

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Speaker 1: So here's the thing though, if you want an electric vehicle,

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Speaker 1: we would recommend that you look towards some of the

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Speaker 1: more affordable, some of the cheaper models out there if

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Speaker 1: you want that purchase to make financial sense. Um. So,

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Speaker 1: for instance, you can buy the Chevy Bolt, you can

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Speaker 1: get the KEYA that I think it's the e V

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Speaker 1: six for closer to thirty dollars, the e V six.

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Speaker 1: That's that one. That's like, I think it's awesome. Look,

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Speaker 1: that's that's one of my my favorite looking affordable electric

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Speaker 1: v goes out there. And one other thing too, is

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Speaker 1: it sure looks like the Inflation Reduction Act, which by

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Speaker 1: the way, is not well named since it probably won't

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Speaker 1: have that much impact on inflation to economists, that that

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Speaker 1: could help the EV market flourished by extending the EV

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Speaker 1: tax credits through two. It could also remove the sales

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Speaker 1: cap for manufacturers like Tesla who were no longer eligible,

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Speaker 1: although there's now an income cap, so those credits won't

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Speaker 1: be available to people with with higher incomes. Uh. And

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Speaker 1: again we say that it could because some of the

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Speaker 1: specific warding about where and how these electric vehicles are manufactured.

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Speaker 1: It actually might prevent a massive number of electric vehicles

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Speaker 1: from being eligible. A lot of this is still up

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Speaker 1: in the air, but once this actually becomes law and

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Speaker 1: we know exactly what's included and what's not, we will

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Speaker 1: make sure to let you know it's right. Yeah, it's

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Speaker 1: still not a law, but if it becomes one, it's

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Speaker 1: going to impact future electric vehicle purchases in all likelihood.

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Speaker 1: But yeah, there's this also this provision matt in there

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Speaker 1: for buying used electric vehicles, which I thought was pretty

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Speaker 1: cool because it makes those used Nissan leaves, which don't

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Speaker 1: really have that much range. They're kind of old school,

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Speaker 1: you know, when you're talking about all the improvements that

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Speaker 1: have been made to electric vehicles over the past eight

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Speaker 1: to ten years. Well, that tax credit can make buying

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Speaker 1: one of those just a little bit smarter. And yeah,

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Speaker 1: so what the way it looks is, you'll be able

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Speaker 1: to get up to a four thousand dollar tax credit

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Speaker 1: if you purchase a cheaper used electric vehicle the price

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Speaker 1: tag can't be over dollars overall, and you'll get up

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Speaker 1: to a thirty percent tax credit on the full purchase

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Speaker 1: price of that vehicle up to twelve dollars right up

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Speaker 1: to a maximum federal tax credit of four thousand dollars.

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Speaker 1: But Matt, it just makes me think, why in the

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Speaker 1: world was there no tax credit for e bikes in

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Speaker 1: this bill, because we're talking about how much more popular

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Speaker 1: e bikes are and how they can get the job

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Speaker 1: done for a lot of people, Like, why not give

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Speaker 1: people a tax credit for buying e bikes? Why just

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Speaker 1: to electric vehicles? You know, I'm glad there's at least

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Speaker 1: some something for used EV buyers in there, But if

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Speaker 1: we really think that electrification of our vehicles in the future,

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Speaker 1: ebocs need a little bit of love too. Yeah, they

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Speaker 1: don't get nearly the love that we think they should. Uh.

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Speaker 1: And so let's talk about some of the other provisions

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Speaker 1: in that bill, because more funding for the i r S.

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Speaker 1: That's also a major component. And we've talked about the

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Speaker 1: issues that the i r S has has had keeping

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Speaker 1: up with returns, especially the paper returns they're having to

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Speaker 1: deal with, but the last couple of years in particular,

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Speaker 1: have been an absolute mess for the agency. Actually, if

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Speaker 1: if you want a physical look inside a processing center,

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Speaker 1: inside the dysfunction well actually linked to a Washington Post

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Speaker 1: story from this week in the show notes, and their

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Speaker 1: cafeteria looks more like just an abhorrent filing room. It's

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Speaker 1: like the it's like the archives from which Indiana Indiana

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Speaker 1: Jones and the Last Crusade maybe where they take away

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Speaker 1: like the Ark of the Covenant, and it's just like yeah,

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Speaker 1: rose upon rose Um, It's like that, but with paper

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Speaker 1: tax returns instead. But the I r S was understaffed

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Speaker 1: even before COVID, but hopefully not anymore because they might

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Speaker 1: be hiring as many as eight seven thousand agent, which

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Speaker 1: means more ability to process returns uh and also perform

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Speaker 1: more audits to collect taxes that are owed self employed folks,

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Speaker 1: they're they're the most likely to receive an audit notice,

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Speaker 1: as it turns out, So just a heads up. The

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Speaker 1: tax cop is back on the beat, and it's even

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Speaker 1: more important to make sure that you've got your tax

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Speaker 1: situation in order. If you've got a situation that might

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Speaker 1: be a little more complicated, it might be worth hiring

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Speaker 1: a tax professional. But I actually see this as as

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Speaker 1: somewhat good news because I was gonna say, I have

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Speaker 1: I think a lot of times, folks are like all

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Speaker 1: the I R s, all the freaking irs, right, Um,

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Speaker 1: But when you have an agency an organization that can't

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Speaker 1: fulfill its duties, right like it's it's not able to

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Speaker 1: do that to do its job. I'm all about them

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Speaker 1: getting some funding that allows them to update their equipment,

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Speaker 1: for them to basically modernize a little bit. Um. And

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Speaker 1: it's said like if they hire that many people, like

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Speaker 1: so in one they employed around eighty two thousand employees,

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Speaker 1: and so this would effectively more than double their staff.

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Speaker 1: And so just keep that in because I think that

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Speaker 1: could mean yeah, that there definitely might be more audits

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Speaker 1: on the horizon. And like I said, I have kind

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Speaker 1: of mixed feelings. I completely agree with you, like the

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Speaker 1: I R S needed more funding, and there are people

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Speaker 1: out there who knowingly violate federal tax laws and they

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Speaker 1: should be held accounable and they should pay their fair share.

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Speaker 1: But then I don't know. I've seen a stat where

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Speaker 1: in one year at least people who adopted kids, something

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Speaker 1: like seventy of them were were audited, And it's like,

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Speaker 1: why in the world was it? Just like why seven

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Speaker 1: out of ten people who who adopted the kid? Why

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Speaker 1: do they get audited earned income tax credit. Yeah, and

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Speaker 1: when there's people when you look at the Statitute, there's

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Speaker 1: a lot of people who make under seventy five dollars

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Speaker 1: a year who get audited as well, And it's like

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Speaker 1: how much how much money are you really going to

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Speaker 1: find under that rock? But yeah, I think this is

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Speaker 1: probably more good than bad. Um. And let's talk about

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Speaker 1: maybe one other provision Matt in that inflation reduction bill

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Speaker 1: which is not logged yet but likely we'll be soon,

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Speaker 1: and it's tax incentives to greenify your home. Yeah, I

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Speaker 1: should green if. I don't know if that's actually a word,

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Speaker 1: but I'm making it up. Can we say that green wash? Uh,

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Speaker 1: that's some more negative Yeah, yeah, green five works to

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Speaker 1: go green? Um. Yeah. And so if this bill does

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Speaker 1: become law, homeowners are gonna be able to get up

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Speaker 1: to a twelve tax break every single year if they

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Speaker 1: make their home more energy efficient. There used to be

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Speaker 1: a lifetime cap of five hundred bucks, so this is

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Speaker 1: like far more generous. It's a big shift, and you're

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Speaker 1: gonna get of the overall cost back in the form

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Speaker 1: of a tax credit of up to every year. Right,

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Speaker 1: And it's worth noting that tax credits are a dollar

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Speaker 1: for dollar reduction in your tax bill, which is better

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Speaker 1: than a deduction which just reduces your income, just reduces

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Speaker 1: your a g I. Um. And so yeah, what greenification

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Speaker 1: efforts counts well? Replacing inefficient windows and doors, something like

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Speaker 1: installing a new water heater, or putting more insulation in

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Speaker 1: your home, to name a few. Um. The cool thing

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Speaker 1: is that you not only get some sort of tax benefit, uh,

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Speaker 1: save money on your taxes, but you'll also save money

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Speaker 1: making your home more energy efficient. So it's gonna be

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Speaker 1: a win win for a lot of consumers because some

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Speaker 1: of these things right the side of this, all of

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Speaker 1: this won't go into effect until three So MATA makes

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Speaker 1: me think, I'm I'm planning on putting more installation in

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Speaker 1: my attic because there's not enough in there. I'm like,

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Speaker 1: might just wait until January. Yeah, let's wait one more

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Speaker 1: two more quarters. Get that thirty percent off? Yeah, thirty

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Speaker 1: percent discount? Would I think one of the amazing things

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Speaker 1: that that's great about this is the fact that you

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Speaker 1: have that annual benefit, right, and so what that does.

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Speaker 1: I just really like how it allows folks to kind

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Speaker 1: of look off into the future a little bit and

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Speaker 1: just to start planning for some of these upgrades that

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Speaker 1: they can make, because it's it's something that they will

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Speaker 1: potentially be able to take advantage of every single year.

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Speaker 1: And like you said, I really also like the fact

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Speaker 1: that this is an ongoing win for them where they're

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Speaker 1: going to be able to, you know, hopefully potentially reduce

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Speaker 1: their energy costs. Will be like, all right, I'm gonna

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Speaker 1: replace three windows every single year for the next ten years,

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Speaker 1: and eventually you'll have all the windows in your house replaced,

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Speaker 1: but you get a tax break every single year for

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Speaker 1: doing it. Yeah. Well, yeah, maybe you replace all the windows,

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Speaker 1: but then you focus on something else, because while the

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Speaker 1: window guy is there, I'm sure it probably pays to

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Speaker 1: go ahead and knock out the rest of the windows.

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Speaker 1: But we've got several other stories that we're gonna get to.

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Speaker 1: We're gonna talk a good bit about some travel and

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Speaker 1: how you should be thinking about the holidays. Now we'll

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Speaker 1: get to that story plus a few others right after this.

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Speaker 1: All right, the Friday flight continues, and Matt, of course,

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Speaker 1: every week we get to the ludicrous headline of the week,

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Speaker 1: and this one, here's the title. Pet Smart offered Free

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Speaker 1: Training but it's saddled employees with debt. Dang it, pet

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Speaker 1: Smart very good, what are you guys doing well? And

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Speaker 1: you don't necessarily get scammed by your employer very often,

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Speaker 1: and and maybe scam is a harsh word, but in reality,

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Speaker 1: after you're reading this story, I was like, it's not

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Speaker 1: it's not terribly far from the truth. The Washington Post

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Speaker 1: had this fascinating yet awful article about how pet smart

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Speaker 1: offers their employees free in all caps on the website,

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Speaker 1: by the way, giant lettering free. I saw that grooming training,

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Speaker 1: but it turns out in the fine print all if

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Speaker 1: they stick around for at least two years. And so

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Speaker 1: now pet smart is getting sued by a former employee.

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Speaker 1: The thing is matt like as as I looked on

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Speaker 1: pet Smart's website as this article, that the policy is

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Speaker 1: just not clear when they're recruiting employees. That's the problem.

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Speaker 1: It sure looks like the training is something pet smart

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Speaker 1: wants to give you to become a more valuable employee.

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Speaker 1: And they're just like, they want to train you so

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Speaker 1: that you become the best pet smart employee you can be.

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Speaker 1: But no, that's not actually the case, because you gotta

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Speaker 1: pay that junk back and you want how much it

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Speaker 1: is like five thousand plus dollars if you don't stick around,

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Speaker 1: it's like fifty seven fifty if you quit, I think

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Speaker 1: before the end of the first year. So if you stay,

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Speaker 1: stay there nine months and you took this training course,

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Speaker 1: you oh, pet Smart five thousand, seven hundred and fifty dollars.

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Speaker 1: And I get that costs a company money to train employees,

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Speaker 1: but then holding that employee responsible for the cost of

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Speaker 1: the training if they don't stick around for years is

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Speaker 1: just ridiculous, especially, like I said, when that policy is

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Speaker 1: just it's it's uh, it's buried in the fine print,

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Speaker 1: and it's hard for that potential or current employee to

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Speaker 1: actually see that they're gonna owe money if they do quit. Totally,

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Speaker 1: in my mind, that's the worst part like that, Like

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Speaker 1: I understand that it costs money to train folks up,

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Speaker 1: and I understand that pet Smart because of that, might

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Speaker 1: want their employees to stick around, like even for for

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Speaker 1: two years. But you've got to make sure that that's

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Speaker 1: made abundantly clear. And like you said, the pay like

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Speaker 1: the recruiting page, I think free is listed like you said,

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Speaker 1: in all caps, like two or three times, but what's

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Speaker 1: not what makes you think that it's what free exactly?

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Speaker 1: But they definitely aren't making it super clear that like,

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Speaker 1: oh yeah, also, you're gonna be handcuffed to this job

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Speaker 1: for the next two years and if you leave, you're

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Speaker 1: gonna owe us a ton of money, which also is

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Speaker 1: kind of a terrible way to have employees, right, Like,

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Speaker 1: do would you actually want to have employees on board

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Speaker 1: who want to leave but can't and are only staying

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Speaker 1: there because they don't want to have to pay over

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Speaker 1: five thousand dollars. They might be it seems like they're

429
00:19:49,160 --> 00:19:51,280
Speaker 1: doing a good job, but really, you know, let deep

430
00:19:51,320 --> 00:19:53,680
Speaker 1: down they actually hate you, Like that's not the kind

431
00:19:53,680 --> 00:19:55,159
Speaker 1: of company I would want to run, right know? What

432
00:19:55,240 --> 00:19:56,560
Speaker 1: makes me? And and I just did not know? I

433
00:19:56,600 --> 00:20:00,639
Speaker 1: guess how expensive was to learn how to do animal grooming?

434
00:20:00,680 --> 00:20:03,320
Speaker 1: Like it's costs along the money man's real inflation. I'm

435
00:20:03,320 --> 00:20:05,720
Speaker 1: sure it didn't used to cost that much, right, but

436
00:20:05,720 --> 00:20:07,680
Speaker 1: but it does now? All right, let's keep moving. Let's

437
00:20:07,680 --> 00:20:10,000
Speaker 1: talk about traveling around around the holidays later this year.

438
00:20:10,320 --> 00:20:12,200
Speaker 1: We are here to let you know that it's probably

439
00:20:12,200 --> 00:20:14,320
Speaker 1: going to be a good idea to buy your plane

440
00:20:14,320 --> 00:20:19,040
Speaker 1: ticket now online booking platform Hopper. They say that prices

441
00:20:19,040 --> 00:20:21,600
Speaker 1: are likely to be the lowest for holiday airfare in

442
00:20:21,720 --> 00:20:26,199
Speaker 1: August and September, which is it's time. So it's a

443
00:20:26,200 --> 00:20:28,800
Speaker 1: good idea to to at least start looking and you

444
00:20:28,800 --> 00:20:30,359
Speaker 1: can set up some air fare alerts so that you

445
00:20:30,359 --> 00:20:32,359
Speaker 1: can be ready to pounce when the when the price

446
00:20:32,440 --> 00:20:36,040
Speaker 1: is right. Uh. And remember airfare prices are subject to

447
00:20:36,119 --> 00:20:38,600
Speaker 1: change quickly, and so because of that, you want to

448
00:20:38,600 --> 00:20:41,960
Speaker 1: be able to track them using something like Google Flights. Uh.

449
00:20:42,000 --> 00:20:44,639
Speaker 1: They are like they've got that price graph going on.

450
00:20:44,720 --> 00:20:46,960
Speaker 1: That's a great resource that allows you to see if

451
00:20:46,960 --> 00:20:49,800
Speaker 1: you can save a decent chunk of money by opting

452
00:20:49,840 --> 00:20:53,040
Speaker 1: for maybe slightly different travel dates, or maybe just by

453
00:20:53,119 --> 00:20:54,960
Speaker 1: extending that by a date. It's like, hey, you get

454
00:20:55,000 --> 00:20:56,760
Speaker 1: to be on vacation for one day longer and it's

455
00:20:56,800 --> 00:20:58,880
Speaker 1: going to save you a ton of money as well.

456
00:20:59,400 --> 00:21:02,080
Speaker 1: But just no that jumping on this early that it's

457
00:21:02,080 --> 00:21:05,440
Speaker 1: going to ease the pain of travel that's coming Thanksgiving

458
00:21:05,560 --> 00:21:10,359
Speaker 1: and that's coming Christmas. Also know that's evidently according to

459
00:21:10,440 --> 00:21:13,479
Speaker 1: the experts, it's gonna be much more hectic as travel

460
00:21:13,640 --> 00:21:16,320
Speaker 1: this holiday season is going to be in high demand.

461
00:21:16,800 --> 00:21:18,320
Speaker 1: So if you're the type of person who doesn't like

462
00:21:18,359 --> 00:21:20,560
Speaker 1: being around a ton of other people or doesn't like

463
00:21:20,640 --> 00:21:23,600
Speaker 1: having their flight delayed, then I don't know, maybe flying

464
00:21:23,600 --> 00:21:26,479
Speaker 1: this winter isn't for you. Just keep that in money,

465
00:21:26,600 --> 00:21:28,200
Speaker 1: I give why the demand is higher though, probably a

466
00:21:28,240 --> 00:21:30,359
Speaker 1: lot of people haven't gone home for the if they

467
00:21:30,440 --> 00:21:32,280
Speaker 1: live quite a ways away the last couple of years,

468
00:21:32,640 --> 00:21:37,120
Speaker 1: given the state of our health, flu home for the holidays. Yeah,

469
00:21:37,359 --> 00:21:40,320
Speaker 1: that's probably this is where people feel more comfortable and

470
00:21:40,359 --> 00:21:43,160
Speaker 1: they're like, boom, I'm definitely, I'm definitely going. And so

471
00:21:43,359 --> 00:21:45,280
Speaker 1: because of that, that's why you need to get on

472
00:21:45,320 --> 00:21:49,600
Speaker 1: it now, booking at airfare before those prices rise too much,

473
00:21:50,000 --> 00:21:52,520
Speaker 1: pricing you out of the ability to go home this Christmas.

474
00:21:52,640 --> 00:21:54,520
Speaker 1: But something else in that realm mat there's a there's

475
00:21:54,560 --> 00:21:56,400
Speaker 1: a chance that people are gonna start getting paid more

476
00:21:56,680 --> 00:22:00,119
Speaker 1: if their flight is delayed in the future. Airline complaints.

477
00:22:00,240 --> 00:22:02,480
Speaker 1: Um as we all know, I've gone through the roof

478
00:22:02,560 --> 00:22:05,080
Speaker 1: in the past couple of years, and especially in the

479
00:22:05,080 --> 00:22:07,240
Speaker 1: past few months, the airlines have had a hard go

480
00:22:07,359 --> 00:22:11,000
Speaker 1: of it as travel demand has has searched recently, and

481
00:22:11,040 --> 00:22:13,920
Speaker 1: so the Department of Transportation is proposing a new rule

482
00:22:14,280 --> 00:22:17,640
Speaker 1: that would force airlines to issue refunds if your flight

483
00:22:17,720 --> 00:22:22,040
Speaker 1: experiences a significant delay, and that means three hours for

484
00:22:22,040 --> 00:22:25,680
Speaker 1: work domestic flights and six hours for international ones. There

485
00:22:25,720 --> 00:22:29,199
Speaker 1: are stipulations if the flight has changed significantly, like if

486
00:22:29,240 --> 00:22:30,879
Speaker 1: an extra connection is at it. You're like, I had

487
00:22:30,920 --> 00:22:33,040
Speaker 1: booked a NonStop and now there's now there's two stops.

488
00:22:33,080 --> 00:22:34,560
Speaker 1: So wait a second, this this travel day is gonna

489
00:22:34,560 --> 00:22:36,359
Speaker 1: take me an extra ten hours. Literally not what I

490
00:22:36,359 --> 00:22:39,880
Speaker 1: signed up right, and in fact this is miserable. Well,

491
00:22:40,480 --> 00:22:43,919
Speaker 1: the public comment period starts on this rule change on August.

492
00:22:44,720 --> 00:22:47,040
Speaker 1: We'll keep you up to speed on what happens with this.

493
00:22:47,520 --> 00:22:50,000
Speaker 1: But Matt Europe has something similar to this. They have

494
00:22:50,040 --> 00:22:53,280
Speaker 1: pretty generous refund rules if a flight gets delayed, and

495
00:22:53,320 --> 00:22:55,239
Speaker 1: it definitely throws a wrench into people's plans if their

496
00:22:55,240 --> 00:22:57,680
Speaker 1: flight is delayed by three or six hours. So I'm

497
00:22:57,680 --> 00:22:59,800
Speaker 1: curious to see what happens with this one. And yeah, well,

498
00:22:59,840 --> 00:23:02,480
Speaker 1: we'll keep you posted. We'll let folks know. What's even better, though,

499
00:23:02,560 --> 00:23:05,160
Speaker 1: is if rules didn't have to pass an order for

500
00:23:05,280 --> 00:23:09,080
Speaker 1: airlines to treat people well and Southwest they actually they

501
00:23:09,160 --> 00:23:11,040
Speaker 1: might be trying to get ahead of this potential rule

502
00:23:11,160 --> 00:23:13,840
Speaker 1: change which we share this because what airline you choose

503
00:23:13,840 --> 00:23:17,120
Speaker 1: to fly with makes a massive difference. Because travel credits

504
00:23:17,160 --> 00:23:19,920
Speaker 1: from the other major airlines they tend to expire after

505
00:23:20,040 --> 00:23:23,320
Speaker 1: a year, but Southwest they just announced that their travel

506
00:23:23,359 --> 00:23:28,840
Speaker 1: credits will never expire. That's just another awesome perk from

507
00:23:28,840 --> 00:23:32,800
Speaker 1: one of the most consumer conscious airlines out there. Also,

508
00:23:32,880 --> 00:23:34,960
Speaker 1: keep in mind we were talking about the Google Flights

509
00:23:35,119 --> 00:23:37,720
Speaker 1: chart and being able to look up flights there as

510
00:23:37,720 --> 00:23:40,480
Speaker 1: an aggregator. You're not going to see Southwest flights when

511
00:23:40,560 --> 00:23:43,240
Speaker 1: you do a Google Flights search. You gotta go directly

512
00:23:43,280 --> 00:23:47,320
Speaker 1: to Southwest dot com. But the added flexibility of southwest

513
00:23:47,440 --> 00:23:50,800
Speaker 1: new policy is a major perk worth considering when you're

514
00:23:50,840 --> 00:23:53,600
Speaker 1: you're booking your next trip. I love seeing individual companies

515
00:23:53,640 --> 00:23:56,480
Speaker 1: take being proactive and treating their customers well, and Southwest

516
00:23:56,480 --> 00:23:58,040
Speaker 1: has kind of done that before. When it comes to

517
00:23:58,080 --> 00:24:01,240
Speaker 1: like bag fees and they're saying trade cancel lations. Everyone else, yes,

518
00:24:01,320 --> 00:24:03,240
Speaker 1: is annoying the crap out of their customers with bag v's,

519
00:24:03,240 --> 00:24:05,600
Speaker 1: we're gonna say no bag fees for to check bags,

520
00:24:05,800 --> 00:24:08,440
Speaker 1: and Southwest just kind of responding similarly with these travel credits.

521
00:24:08,560 --> 00:24:10,600
Speaker 1: It's like, oh, it just expired. On one of these

522
00:24:10,600 --> 00:24:14,080
Speaker 1: other big airlines American or Delta. Well, guess what we were,

523
00:24:14,160 --> 00:24:17,119
Speaker 1: We're gonna have them never explire credits literally never expire.

524
00:24:17,160 --> 00:24:19,400
Speaker 1: I saw too that if you, you know, like we

525
00:24:19,400 --> 00:24:22,600
Speaker 1: were saying, flights, the presses for flights change often, and

526
00:24:22,720 --> 00:24:24,199
Speaker 1: if you happen to see that, the price of your

527
00:24:24,200 --> 00:24:26,560
Speaker 1: flight goes down to price, you can cancel and rebook

528
00:24:26,560 --> 00:24:28,800
Speaker 1: at the lower price, right, and you get to keep

529
00:24:28,800 --> 00:24:31,359
Speaker 1: the credits for the first flight. And so they're just

530
00:24:31,400 --> 00:24:34,760
Speaker 1: treating people right at every turn basically, and they're like

531
00:24:34,800 --> 00:24:38,440
Speaker 1: being the opposite of pet Smarts, Like we've got quite

532
00:24:38,440 --> 00:24:41,720
Speaker 1: the foil to how you should be treating people. That's right, man.

533
00:24:41,760 --> 00:24:44,800
Speaker 1: Southwest treats their employees very well too. Um well, let's

534
00:24:44,880 --> 00:24:47,320
Speaker 1: let's talk about another company that we're fond of. Matt,

535
00:24:47,359 --> 00:24:49,800
Speaker 1: this one is this one is all the and I

536
00:24:50,200 --> 00:24:51,879
Speaker 1: let's say you had to do it all over again.

537
00:24:52,119 --> 00:24:55,480
Speaker 1: It's fifteen years ago, and you know you and Kate

538
00:24:55,480 --> 00:24:58,600
Speaker 1: were getting married, you were super pumped. Would you choose

539
00:24:58,600 --> 00:25:02,000
Speaker 1: to get married at your litt You know, I would

540
00:25:02,040 --> 00:25:04,600
Speaker 1: would Kate choose to do that? She'd be Kate loves

541
00:25:04,760 --> 00:25:07,840
Speaker 1: She probably likes Aldi more than I do. Although we've

542
00:25:07,840 --> 00:25:09,639
Speaker 1: been going to Leedle more lately because they got the

543
00:25:09,680 --> 00:25:13,680
Speaker 1: kid carts shooting on a well, they're so similar, they're

544
00:25:13,720 --> 00:25:16,280
Speaker 1: both they're very similar. But legal man, they got those

545
00:25:16,280 --> 00:25:18,680
Speaker 1: those tiny little kid carts were walking there. The kids

546
00:25:18,720 --> 00:25:20,560
Speaker 1: love going. Now we don't even take a cart. Like

547
00:25:20,640 --> 00:25:23,800
Speaker 1: Kate will walk in there and all four kids will

548
00:25:23,840 --> 00:25:26,480
Speaker 1: grab their own cart and she throws the groceries in there.

549
00:25:26,600 --> 00:25:28,280
Speaker 1: They take it to the register. They're in charge of

550
00:25:28,359 --> 00:25:31,240
Speaker 1: unloading their own cart. It makes a big difference a

551
00:25:31,240 --> 00:25:33,240
Speaker 1: fun family, it's all I want to say. No, it

552
00:25:33,280 --> 00:25:36,360
Speaker 1: does well, um, yeah, typically you can't rent out your

553
00:25:36,400 --> 00:25:39,280
Speaker 1: your local Aldi in order to get married, but no, yeah,

554
00:25:39,440 --> 00:25:41,320
Speaker 1: but it turns out all these on the prow to

555
00:25:41,320 --> 00:25:44,280
Speaker 1: find one couple who wants to get married in an

556
00:25:44,320 --> 00:25:46,679
Speaker 1: Aldi and actually you're getting married at the all the

557
00:25:46,960 --> 00:25:49,359
Speaker 1: Employee center I think, or what's it called the all

558
00:25:49,359 --> 00:25:52,680
Speaker 1: the inside sites. It's like their their model store. Yeah,

559
00:25:52,720 --> 00:25:56,520
Speaker 1: so in Batavia. Uh, that's always see that on their stuff.

560
00:25:56,520 --> 00:25:58,040
Speaker 1: That's a little So you get to go to the

561
00:25:58,040 --> 00:26:00,119
Speaker 1: all the headquarters, you get to what invite fifty s

562
00:26:00,240 --> 00:26:02,480
Speaker 1: I think to attend that wedding. So yeah, if you're

563
00:26:02,480 --> 00:26:05,440
Speaker 1: if you're madly in love with your significant other and

564
00:26:05,840 --> 00:26:08,320
Speaker 1: with all the uh there, they will play a link

565
00:26:08,359 --> 00:26:10,679
Speaker 1: to the show notes where you can apply to get married,

566
00:26:10,960 --> 00:26:15,080
Speaker 1: you know, at your favorite grocery stores headquarters And Sadly,

567
00:26:15,200 --> 00:26:17,199
Speaker 1: vour noodles don't count, matt Or you know, I know

568
00:26:17,240 --> 00:26:20,600
Speaker 1: you'd be all over this. Sadly Costco isn't doing something similar,

569
00:26:20,640 --> 00:26:21,959
Speaker 1: because I'm sure you would have been all over that

570
00:26:23,240 --> 00:26:26,000
Speaker 1: I could see it. Family would be as interested in

571
00:26:26,040 --> 00:26:30,440
Speaker 1: the wine section. It's very uh looks like Tuscany. That's right,

572
00:26:31,440 --> 00:26:34,720
Speaker 1: They're just missing the hills and the actual actual vineyards. Uh.

573
00:26:34,760 --> 00:26:36,600
Speaker 1: But let's get to our last store. Let's talk about

574
00:26:36,680 --> 00:26:40,000
Speaker 1: what retirees should be worried about, because inflation, that's kind

575
00:26:40,000 --> 00:26:41,840
Speaker 1: of a new one on the radar. It's something that

576
00:26:42,080 --> 00:26:45,879
Speaker 1: retirees haven't had to consider now for decades. But a

577
00:26:45,880 --> 00:26:50,240
Speaker 1: new study from Boston College's Center for Retirement Research. They

578
00:26:50,280 --> 00:26:53,000
Speaker 1: revealed that most retirees are worrying the most about the

579
00:26:53,000 --> 00:26:56,040
Speaker 1: wrong thing because the number one retiree concern was the

580
00:26:56,119 --> 00:26:59,560
Speaker 1: prolonged down market early on in their retired years. Because

581
00:26:59,680 --> 00:27:02,879
Speaker 1: they've about sequence of returns risk, but the most likely

582
00:27:03,000 --> 00:27:06,480
Speaker 1: risk for retirees is actually something good, which is living

583
00:27:06,480 --> 00:27:10,280
Speaker 1: for a really long time. So uh, even though that's

584
00:27:10,280 --> 00:27:12,399
Speaker 1: a you know, that's a good thing, it's still important

585
00:27:12,440 --> 00:27:15,360
Speaker 1: to plan Accordingly. Health issues are actually the next biggest

586
00:27:15,480 --> 00:27:18,920
Speaker 1: actual concern that retirees face. What this means is that

587
00:27:19,320 --> 00:27:22,160
Speaker 1: as you are entering into retirement, this means saving more.

588
00:27:22,240 --> 00:27:25,399
Speaker 1: This means potentially getting a long term care insurance policy

589
00:27:25,440 --> 00:27:28,240
Speaker 1: set up. These are both ways of of hedging that risk.

590
00:27:28,280 --> 00:27:30,320
Speaker 1: And you know, it's just fascinating to see the gap

591
00:27:30,400 --> 00:27:33,720
Speaker 1: between what we see, like like our perceived risk as

592
00:27:33,720 --> 00:27:36,560
Speaker 1: well as the actual and most likely risk in reality.

593
00:27:36,920 --> 00:27:38,760
Speaker 1: And you know what, We're actually gonna dive deep on

594
00:27:38,800 --> 00:27:42,240
Speaker 1: the topic of risk on Monday with economist Alison Schrager.

595
00:27:42,600 --> 00:27:44,720
Speaker 1: So we would recommend that you hit that subscribe button.

596
00:27:44,720 --> 00:27:47,440
Speaker 1: We don't want you missing any episodes. But but yeah,

597
00:27:47,480 --> 00:27:51,840
Speaker 1: if you're into thinking about risk and how to basically

598
00:27:51,880 --> 00:27:53,480
Speaker 1: how to interpret the risk and how to think about

599
00:27:53,520 --> 00:27:55,880
Speaker 1: it well and how to make the right and best

600
00:27:55,960 --> 00:27:58,719
Speaker 1: decisions for you, be sure to come back here on

601
00:27:58,800 --> 00:28:00,680
Speaker 1: Monday and we will have that one there for you. Yeah,

602
00:28:00,680 --> 00:28:03,639
Speaker 1: And Alison's book is titled and Economist Walks into a brothel,

603
00:28:03,720 --> 00:28:07,280
Speaker 1: which you can tell, like she's not your normal boring

604
00:28:07,320 --> 00:28:10,160
Speaker 1: economists like she she has some really interesting insights about

605
00:28:10,200 --> 00:28:13,240
Speaker 1: how risk applies to our everyday lives and even to

606
00:28:13,359 --> 00:28:17,840
Speaker 1: kind of funky situations like risk inside of um brothel.

607
00:28:18,000 --> 00:28:20,159
Speaker 1: But yeah, it mat just made me think that. One

608
00:28:20,160 --> 00:28:22,080
Speaker 1: of the last things you said was that's also why

609
00:28:22,119 --> 00:28:24,560
Speaker 1: we suggest that people wait to take Social Security until

610
00:28:24,880 --> 00:28:27,240
Speaker 1: far later than Like some people they turn sixty two

611
00:28:27,240 --> 00:28:29,280
Speaker 1: and they're like boom signing up. Most of the folks

612
00:28:29,280 --> 00:28:31,000
Speaker 1: that do that end up regretting it because they're not

613
00:28:31,040 --> 00:28:33,320
Speaker 1: considering the fact that they're going to live, in all

614
00:28:33,359 --> 00:28:36,120
Speaker 1: likelihood a really long time. Sorry, just a minor point,

615
00:28:36,119 --> 00:28:38,560
Speaker 1: but WI should throw that up. Well, yeah, I mean

616
00:28:38,600 --> 00:28:41,280
Speaker 1: you say that, But there's also the balance. Nickma Julie.

617
00:28:41,440 --> 00:28:43,280
Speaker 1: We had him on the show like several months ago,

618
00:28:43,360 --> 00:28:45,480
Speaker 1: but he in his book he talked about the number,

619
00:28:45,480 --> 00:28:49,000
Speaker 1: like the percentage of retirees who actually aren't drawing down

620
00:28:49,000 --> 00:28:50,920
Speaker 1: on the principle how they're only living off of their

621
00:28:50,920 --> 00:28:53,920
Speaker 1: interest is something like only fift of retirees are actually

622
00:28:54,000 --> 00:28:56,760
Speaker 1: drawing down on the principle at all, which means that

623
00:28:56,960 --> 00:28:59,680
Speaker 1: as they get older, they're only accumulating more and more wealth,

624
00:28:59,840 --> 00:29:01,959
Speaker 1: so people love just too much, like and they're not

625
00:29:02,120 --> 00:29:04,800
Speaker 1: they're not thinking through exactly. There's there's just there's this

626
00:29:04,840 --> 00:29:07,920
Speaker 1: fine balance between being smart with your money, taking it

627
00:29:07,920 --> 00:29:10,680
Speaker 1: and investing it for the long haul, versus using some

628
00:29:10,760 --> 00:29:13,360
Speaker 1: of that money and living life now. It's just it's

629
00:29:13,360 --> 00:29:17,480
Speaker 1: a difficult balance to strike, and so much of it

630
00:29:17,520 --> 00:29:20,160
Speaker 1: kind of comes out to you as an individual. Obviously,

631
00:29:20,320 --> 00:29:23,360
Speaker 1: studies are necessarily representative of how it is that you're

632
00:29:23,400 --> 00:29:25,200
Speaker 1: going to live your life, but it's definitely it's really

633
00:29:25,240 --> 00:29:27,640
Speaker 1: interesting to kind of think through some of these different

634
00:29:27,640 --> 00:29:30,680
Speaker 1: scenarios for sure, and what might be the most financially

635
00:29:30,720 --> 00:29:33,040
Speaker 1: responsible move, because it's just not always the best lifestyle

636
00:29:33,080 --> 00:29:34,880
Speaker 1: move for sure. And that's exactly we try to talk

637
00:29:34,920 --> 00:29:37,560
Speaker 1: about these trade offs on the show here frequently. But

638
00:29:38,040 --> 00:29:39,240
Speaker 1: I hope to see you back here on Monday for

639
00:29:39,280 --> 00:29:42,040
Speaker 1: that conversation with Alison Matt. That's gonna do it for

640
00:29:42,040 --> 00:29:45,480
Speaker 1: for this episode until next time. Best Friends Out, Best

641
00:29:45,520 --> 00:29:46,200
Speaker 1: Friends Out,