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Speaker 1: Welcome to had the Money. I'm Joel on that today

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Speaker 1: we're talking credit card caps, free rent and Pokemon investing.

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Speaker 2: Pokemon investing sounds like such an oxymoron, Joel, But we'll

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Speaker 2: get to that story here in a little bit during

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Speaker 2: our Friday flights don't hat on Pikachu bra little how

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Speaker 2: to money weather update. We hope everyone survived the cold blast. Yeah,

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Speaker 2: that a lot of the country got slammed with. Yes,

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Speaker 2: it was not just cold. We don't often talk about

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Speaker 2: weather here.

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Speaker 1: Gusty winds they were hitting. I felt like I was

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Speaker 1: running a wind tunnel the show. Yes, yeah, you wouldn't

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Speaker 1: to shy away from the cold weather a little bit.

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Speaker 1: Were you wearing gloves?

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Speaker 2: Yeah? Okay, fingers still felt like ice schools. What kind

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Speaker 2: of gloves do you have? They're like thin, Like running

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Speaker 2: gloves are not great? All right? Do you see me

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Speaker 2: out there running with gloves on be aka socks on

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Speaker 2: my hands when it's cold enough like I almost need

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Speaker 2: to double up? I really should. Was that cold?

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Speaker 1: But yeah, so much to get to on today's show, Matt.

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Speaker 1: But okay, first I wanted to bring up I'm curious

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Speaker 1: have you ever checked out a longevity calculator to see

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Speaker 1: how long I have. Your life expectancy is, okay, I

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Speaker 1: have what did you learn? Gosh, it was with North

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Speaker 1: Insurance Company. Based on what I entered in I should

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Speaker 1: live to my into my nineties.

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Speaker 2: Okay.

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Speaker 1: It's it's interesting because I mean, like, the questions are

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Speaker 1: so basic on it. It's not like they know a

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Speaker 1: ton about you or your family's health and medical history

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Speaker 1: stuff like that, but answering a few basic questions I

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Speaker 1: think can at least. What I love about it is

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Speaker 1: that it at least prompts you to think about the

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Speaker 1: potential of living that long, right, because I think a

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Speaker 1: lot of people just it's not really on their radar,

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Speaker 1: And so I went to one on my radar. I mean,

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Speaker 1: it's on your radar, I think. I mean, it's awesome.

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Speaker 2: As I forecast, I'm like, I'm assuming I'm gonna hit

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Speaker 2: one hundred, but not from like I'm not expecting to Yeah,

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Speaker 2: I mean it would be great, I guess if I did,

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Speaker 2: but from a like from a financial you're talking about

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Speaker 2: from a financial standpoint, when you're forecasting off into the future,

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Speaker 2: I always plan at least to a I mean, not

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Speaker 2: at least one hundred but I do maybe one twenty one.

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Speaker 1: Like I'm like, all right, now there's sixty, not quite six.

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Speaker 1: Put your brain in a vat and anymore attached to

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Speaker 1: a robot body, like, yeah, it's possible, and then you

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Speaker 1: still need extra money. This is like a nice safe

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Speaker 1: number to shoot for the triple digits. Baby, So it

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Speaker 1: was interesting. I plugged my numbers in and it says

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Speaker 1: that I have one hundred percent shot of living to sixty,

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Speaker 1: which is interesting because I don't that's for sure. There's

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Speaker 1: certainly at least a chance I get hit by a

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Speaker 1: bus or something like that, right, And so that part

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Speaker 1: kind of weirds me out that it's like, no, you

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Speaker 1: definitely delive.

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Speaker 2: It's like no, maybe, maybe not. I mean it's likely

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Speaker 2: that you will, it is, it is likely. Yeah, and

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Speaker 2: the fifty percent shot of living the age ninety and

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Speaker 2: a twenty six percent shot of living to ninety five.

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Speaker 2: So but when you think about it like that, to say,

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Speaker 2: did it give you like an age, like like you

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Speaker 2: are likely to make a death age? Yeah, No, it

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Speaker 2: didn't say that, that's what I So I've seen the

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Speaker 2: ones where it's like more of a probability, it's more

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Speaker 2: of like an actuarial or if it said forty four

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Speaker 2: and I was like, no, that's coming soon. What's the

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Speaker 2: movies where it's all the Final Destiny as like Final

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Speaker 2: Destination but podcaster style? No, like the ones where it's

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Speaker 2: more of a percentage, doesn't I don't know, Like there's

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Speaker 2: just not enough to hang your hat on. And it's

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Speaker 2: not like you are going to change your life based

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Speaker 2: on some magical number that a calculator spits out. But

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Speaker 2: I do like having an actual number to shoot for,

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Speaker 2: because you think in life stages and specific ages and

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Speaker 2: less in my opinion of like you have a what

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Speaker 2: do you say, like a fifty percent chance of living

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Speaker 2: to age ninety is just like, okay, well what does

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Speaker 2: that mean? It's a coin flip pretty easy to fifty fifty?

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Speaker 2: Maybe I know, but it's just I don't know. I

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Speaker 2: like the idea of a singular number. Also, put it,

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Speaker 2: go ahead, put a disclaimer in there, right, Like, go

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Speaker 2: ahead and say, by the way, there's no way of

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Speaker 2: knowing whether or not this is actually going to take place,

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Speaker 2: but it still gives you likely to live to ninety

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Speaker 2: five years old. You're also going to know that, all right,

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Speaker 2: there's also a chance you only live to eighty five,

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Speaker 2: maybe even seventy five. There's a very very very small

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Speaker 2: chance that you were going to live to one hundred

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Speaker 2: and five. I don't know. I guess I appreciate that more.

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Speaker 2: But I think what you're saying though, is it can

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Speaker 2: be a nice tool to look off into the future,

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Speaker 2: which I don't think people do. That's right enough.

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Speaker 1: I think that's really at the heart of using that.

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Speaker 1: I was like, oh, it just made me think again,

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Speaker 1: I'm going to be really old someday with a ton

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Speaker 1: of wrinkles, and it's like the old of five face

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Speaker 1: app Yeah, whatever, it's likely going to happen, which I

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Speaker 1: love and I just want to be It makes it

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Speaker 1: I think for a lot of people who, especially our

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Speaker 1: younger listeners, it's really easy. I mean when I was

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Speaker 1: in my twenties and early thirties, you feel invincible.

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Speaker 2: You're like, death will never hit me.

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Speaker 1: But the truth is it'll be there someday, but maybe

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Speaker 1: a long way off in the distance. And so at

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Speaker 1: least kind of being like, oh, actually, there's a large

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Speaker 1: chance I live to a ripe old age, it might

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Speaker 1: get you a little.

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Speaker 2: More enthusiastic about saving for your own future. Absolutely, Yeah,

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Speaker 2: whatever is going to move the needle for you to

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Speaker 2: get you to do more of the thing that you

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Speaker 2: know you need to be doing, I think is what

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Speaker 2: I would recommend. Joelsaka about some of the governing that

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Speaker 2: took place this week where actually I should say less

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Speaker 2: governing and more executive actioning that took place during via

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Speaker 2: truth Social and we talked about Wall Street's involvement in

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Speaker 2: the housing market last week. This week, the president is

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Speaker 2: taking on credit card interest rates and he's wanting to

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Speaker 2: cap the interest rates that banks are charging at ten percent.

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Speaker 2: But just for a year. Friend of the show, Noah Smith,

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Speaker 2: he called it gangster affordability, which is a pretty nice

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Speaker 2: description because what it does is it's like someone just

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Speaker 2: shows up with the crowbar or like what was the

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Speaker 2: wrench attacks where we talked about that was with bitcoin

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Speaker 2: with Natalie Natalie b I forget her last name. Now,

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Speaker 2: I thought, yeah, regarding oh, here is something that isn't

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Speaker 2: actually completely safe and fully protected in a similar tech,

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Speaker 2: low tech way islands on a high tech product. I

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Speaker 2: feel like that's what going on here with the gangster affordability.

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Speaker 2: But that being said, no legislation has actually been proposed

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Speaker 2: but on the positive side of things, really comments Americans

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Speaker 2: with credit card debt, they would save a significant amount

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Speaker 2: of money and interest. It's calculated that it would be

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Speaker 2: one hundred billion dollars annually. But there's always trade offs,

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Speaker 2: and the worst part is that this could hurt the

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Speaker 2: folks it's attempting to help, right, Like the talking points

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Speaker 2: are that, oh no, this is this is for affordability.

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Speaker 2: But what this means is that folks with subpar credit

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Speaker 2: cards are going to find themselves unable to have any

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Speaker 2: access to credit cards at all. And the reason being

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Speaker 2: is because banks charge a higher interest rate to higher

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Speaker 2: risk consumers, which just makes a ton of sense if

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Speaker 2: they are legally unable to If they are barred from

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Speaker 2: doing this, these folks are going to have access to

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Speaker 2: any credit at all, which could push them potentially towards

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Speaker 2: even worse financial products.

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Speaker 1: If they're going to like payday loans or whatever. But

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Speaker 1: this is now pay later payday loans. Those are going

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Speaker 1: to take up credit cards, maybe.

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Speaker 2: Will find a and you could try to like stop,

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Speaker 2: like put the finger in the dike that's about to burst,

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Speaker 2: Like water always finds a way and in a similar fashion,

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Speaker 2: like when it comes to unless you regulate everything consumer

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Speaker 2: debt related in the financial market altogether. There we'll find

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Speaker 2: a way. The market finds a way.

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Speaker 1: Yeah, and and so this is untenable. A lot of

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Speaker 1: the banks are crying, and I think a lot of

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Speaker 1: people assume, well, who cares about the banks? And while

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Speaker 1: I understand that sort of reaction, ruin, it's the system.

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Speaker 2: It's not even about the banks, like I don't, I

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Speaker 2: truly don't care about the banks, But it is the

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Speaker 2: unintended consequences of what of what this would do. It's like,

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Speaker 2: it's like anytime the government honestly gets overly involved in

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Speaker 2: any let's say the government gets involved in what's something else?

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Speaker 2: That's it. Burritos are really expensive, right, like, oh my gosh, dude,

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Speaker 2: what I spent like twenty dollars in burrito yesterday? Okay,

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Speaker 2: let's say cap Chipotle prices. Yes, what if they're like, okay,

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Speaker 2: from now on, five dollar burritos for everybody? Well, what's

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Speaker 2: that going to mean? Well, first of all, there's gonna

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Speaker 2: be a line out the door because everybody is going

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Speaker 2: to want to get a five dollar burrito, and to

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Speaker 2: the Britles to be crime here. And then smaller. And

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Speaker 2: then let's say, well, I can't even get a burrito

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Speaker 2: because the lions are so long. Oh, and then they

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Speaker 2: run out of supply so they have to shut the doors.

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Speaker 2: But then after weeks they're like, you know what, we're

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Speaker 2: actually losing money here. So what's Chipotle or whoever? What

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Speaker 2: do they do? So, you know what, let's start putting

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Speaker 2: less meat on that. We're gonna limit the options. Before long,

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Speaker 2: you either are going to receive a really inferior product

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Speaker 2: or they're just gonna close shop altogether because they are

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Speaker 2: going out of business. And that's what's happening. That's what

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Speaker 2: could happen to subprime borrowers when they are denied access

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Speaker 2: to credit card. And this is why.

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Speaker 1: I mean something like forty seven percent of people who

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Speaker 1: have a credit card don't pay their balance off on

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Speaker 1: time and in full every single month. And that is

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Speaker 1: as part of our golden rules of plastic that is

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Speaker 1: the only way it makes sense to use credit cards

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Speaker 1: in your life is if you do, if not work

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Speaker 1: towards paying debt off as quickly as possible. Yes, it's

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Speaker 1: hard to do when intrat rates are twenty two to

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Speaker 1: twenty four percent, but it's coming up with a debt

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Speaker 1: payoff plan or getting help if you need it. It's

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Speaker 1: crucial so you can get out of credit card debt

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Speaker 1: as fast as possible. But this is not the best

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Speaker 1: overall long term solution for Americans in general. And just

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Speaker 1: a side note, when we're talking about credit card rewards,

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Speaker 1: there's a chance that it could either become more Barbelle

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Speaker 1: in nature where the most premium users get more awards,

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Speaker 1: or just maybe more annual fees assessed on certain cards

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Speaker 1: like a two percent cash back card right now that

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Speaker 1: doesn't come with an annual fee might start to come

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Speaker 1: with an annual fee because of caps on interest rates.

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Speaker 2: So yeah, it's the market shall find a way. Yeah.

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Speaker 1: Speaking of credit cards though, according to a new survey,

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Speaker 1: gen Z are dishing credit cards in favor of debit cards.

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Speaker 1: And there are two main reasons. One they want to

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Speaker 1: avoid debts, and two is they say it makes it

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Speaker 1: easier for them to track their spending using debit cards

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Speaker 1: instead of credit It makes sense. I think those are

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Speaker 1: both actually solid reasons.

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Speaker 2: For your intermediaries. Not everybody wants to be an excel

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Speaker 2: NERD Yeah, like myself.

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Speaker 1: Yeah, And if at some point you're like actually using

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Speaker 1: this other piece of plastic is likely to get me

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Speaker 1: further into debt, and that's something I want to avoid.

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Speaker 1: More power to you. I understand that impulse for using

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Speaker 1: a debit card, and of course we're talking about credit

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Speaker 1: card usage, using it responsibly all the time, but when

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Speaker 1: most people can't do it, Yeah, you might want to

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Speaker 1: opt for a debit card instead of a credit card.

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Speaker 1: It's almost like, I don't know, think about moderation and

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Speaker 1: alcohol mat That's how I typically think about, That's how

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Speaker 1: I handle alcohol usage. But if I had struggled in

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Speaker 1: the past with drinking too much, with it getting out

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Speaker 1: of control, I could totally see why someone would say

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Speaker 1: I'm not going to touch the stuff at all, because

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Speaker 1: I feel like for me, it's just it's never a

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Speaker 1: good thing, right, and there's too much of a propensity

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Speaker 1: for me to become a problem. So yeah, even though

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Speaker 1: debit cards are inferior in some ways, I think it

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Speaker 1: can still make sense. But the downside though, for a

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Speaker 1: lot of people, is that debit cards in particular aren't

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Speaker 1: helping people build a good credit score. Although something like

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Speaker 1: forty three percent of those gen zers think that they

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Speaker 1: will think that using their debit cards is going to

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Speaker 1: help them improve their credit score. But it's your debit cards,

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Speaker 1: not factory to the mixed people, and so no, it's not. Yeah,

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Speaker 1: if you feel like credit cards are your arts and nemesis,

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Speaker 1: sure used debit. But it's also important if you're doing

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Speaker 1: that to find other ways to ensure that your credit

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Speaker 1: score is being built up. If you kind of give

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Speaker 1: the heisman to credit cards, just make sure you're still

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Speaker 1: paying attention to your score and you might need other

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Speaker 1: forms of debt access and using that wisely to help

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Speaker 1: build your score up.

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Speaker 2: Yeah. The only thing wrong or not, I won't say wrong.

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Speaker 2: The only consideration with your alcohol analogy is though that

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Speaker 2: some forms of credit are necessary to build your actual

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Speaker 2: credit score, whereas alcohol is like purely optional, right, Like

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Speaker 2: it's not like it's not like something that everyone has

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Speaker 2: to have one glass of wine a week, but if

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Speaker 2: you overdo it, it's going to mess you up. Right.

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Speaker 2: That's the thing with credit cards and why it is

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Speaker 2: such I don't know, a slippery slope for a lot

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Speaker 2: of folks is because it's like, shoot, no, you do

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Speaker 2: have to find a way to get your hands on

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Speaker 2: some credit to be able to help build up your score. Otherwise,

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Speaker 2: I mean, you're still able to build a decent score,

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Speaker 2: it's just oftentimes it's incredibly sensitive to the movements of

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Speaker 2: that one payment that you're making, as opposed to having

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Speaker 2: like like an entire arsenal, a whole wallet of cards

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Speaker 2: that are all.

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Speaker 1: Feeding in your score, which is why you and I

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Speaker 1: would typically say, well, if you use your debit card,

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Speaker 1: but you know, grab a credit card or two, put

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Speaker 1: one recurring monthly payment like your Netflix subscription or something

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Speaker 1: like that, or use one credit card just for gas

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Speaker 1: every month, something like that, and pay them off on

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Speaker 1: time and in full with auto pay every single month.

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Speaker 1: Other than that, just leave them at home, like, don't

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Speaker 1: use them, don't put them, don't put them on auto

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Speaker 1: fill with Apple or Google or whatever. So but that way,

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Speaker 1: at least you have access to credit. You're using very

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Speaker 1: little of that credit, but you're also not tempted to

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Speaker 1: spend on those credit cards.

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Speaker 2: On the rag. That's right, you know, Declining affordability it

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Speaker 2: remains the most important topic to most Americans still, but

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Speaker 2: we have actually seen some segments that are bucking that trend.

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Speaker 2: And specifically I want to highlight renting because it continues

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Speaker 2: to get more affordable in many cities, especially some Sun

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Speaker 2: Belt cities which saw a lot of new construction in

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Speaker 2: recent years and now there aren't enough renters to fill

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Speaker 2: all the new units. It just goes to show Jule

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Speaker 2: that more supply really does make a difference when you

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Speaker 2: let the let the free markets play out, let the

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Speaker 2: builders build. You know, it's like, oh, man, rents are

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Speaker 2: so high, I want a piece of that action. All

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Speaker 2: these developers come in, they want to increase their their problems.

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Speaker 2: They build a bunch of properties, but then that increase

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Speaker 2: in supply drives down the demand because there's more options

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Speaker 2: available to renters. It is self correcting. More supply does

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Speaker 2: make a difference. So what that means if you are

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Speaker 2: a renter in one of these towns, it could mean

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Speaker 2: free rents at least for two or three months, as

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Speaker 2: significant discounts and different incentives are getting steeper in an

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Speaker 2: attempt to fill these vacant units. So what that means, though,

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Speaker 2: is just don't re sign a lease with your current

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Speaker 2: landlord without giving it any thought. Right, Like, we want

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Speaker 2: you to shop around, and you might be thinking, well,

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Speaker 2: I don't want to go anywhere, Like I really like

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Speaker 2: this place. This is like the perfect location. That's totally fine.

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Speaker 2: You can stay, but use those discounts that are out

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Speaker 2: there as supplies as fodder for your negotiation, right like

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Speaker 2: you need to come, you need to show up armed,

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Speaker 2: ready to go with this data. But that being said,

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Speaker 2: I think moving it could be your best bet if

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Speaker 2: you're looking to save the most money. I mean, if

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Speaker 2: you can get like two months worth of free rent

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Speaker 2: from an apartment complex that's struggling to get their units field, man,

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Speaker 2: that's I would have a hard time, especially if I

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Speaker 2: was in that sort of phase of life, to not

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Speaker 2: pounce on that and on those deals.

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Speaker 1: And I think actually because of the free rent thing,

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Speaker 1: that the numbers aren't quite as reflective of how much

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Speaker 1: rents have declined in certain spots, because it's like, well,

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Speaker 1: average rent amounts per month is typically what's taking into

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Speaker 1: consideration less two less month that brings with the rent,

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Speaker 1: that brings down the average price of rent, but not

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Speaker 1: necessarily in the headline numbers that we see. Yeah, so yeah,

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Speaker 1: just imagine imagine if like your bank was like, you

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Speaker 1: know what, November December, don't even worry about paying mortgage.

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Speaker 2: Like that would be so sweet.

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Speaker 1: I'd be sick. Yeah, and so it's a big deal.

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Speaker 1: This is like I've talked about this on the show before.

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Speaker 1: This is like my sister's thing. She does this almost

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Speaker 1: every year without fail, moves to a new place. Usually

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Speaker 1: it's not far, it's right around the corner. But it

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Speaker 1: depends on the city you live in, right There's some

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Speaker 1: cities that have more supply, that have more.

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Speaker 2: Availability than others.

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Speaker 1: But if you live in a city where those dynamics

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Speaker 1: are at play, take advantage of it, pounce on it,

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Speaker 1: love it. Something you don't want to do is bet

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Speaker 1: on the housing market. But you can now, of course,

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Speaker 1: because you can bet on anything. You can bet on

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Speaker 1: any of the United States of gambling. America feels like

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Speaker 1: that's where we live right now. And so instead of

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Speaker 1: speculating by buying a home, I'm gonna flip a home

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Speaker 1: and I'm going to try to make some money in

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Speaker 1: the housing market, you can instead place a wager on

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Speaker 1: the direction that you think home prices are going to

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Speaker 1: go in major US city. Of course, this is on

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Speaker 1: the site Polymarket, which is going to use data from

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Speaker 1: parcel Labs, which is actually really good company, in order

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Speaker 1: to determine winners and losers. It's cool in one way, Matt,

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Speaker 1: because the data of what the masses think is informative, right,

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Speaker 1: because there's always speculations from experts in the space. But

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Speaker 1: when you kind of take the hive mind in what

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Speaker 1: the average or the majority, not the majority, but like

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Speaker 1: a bunch, you know, thousands and thousands of people think

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Speaker 1: about what the direction is going to be, you do

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Speaker 1: get some insight. But it's also straight up gambling, and it's.

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Speaker 2: Yeah, what you're identifying are the two different perspectives of

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Speaker 2: how you look at polymarket specifically, right, Like, if you

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Speaker 2: are fascinated by it, yeah, if you are a journalist

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Speaker 2: or a researcher, like this is valuable information. It's just

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Speaker 2: it is interesting to see what people are thinking. But

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Speaker 2: if you're someone who's just like, yeah, i'm gonna I'm

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Speaker 2: gonna score a big well, it's like it's a gambling site. Yes,

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Speaker 2: that's right, that's right.

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Speaker 1: So and you know, it's It's important to also note

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Speaker 1: that these prediction platforms are rife with controversy on multiple

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Speaker 1: but for instance, there was a four hundred thousand dollars

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Speaker 1: payout that essentially depends on semantics, right, whether the removal

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Speaker 1: of the President of Venezuela counted as an invasion or not.

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Speaker 1: And I guess invasion is in terms and in the

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Speaker 1: eye of the beholder. So does polymarket get to make

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Speaker 1: that decision. I think there's just a lot of a

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Speaker 1: lot of worries that I have about individuals gambling from

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Speaker 1: their phones. I mean, I'm sorry, predicting things from their phones.

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Speaker 1: They're just going to be speculative havens, a real waste

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Speaker 1: of time and money.

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Speaker 2: For a lot of people. Yeah, they just need to

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Speaker 2: get real clear with their language though, right, like what

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Speaker 2: constitutes an invasion because I also kind of like we're

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Speaker 2: kind of we're moving from the macro to the macro here,

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Speaker 2: and like I'm thinking about the invasion thing, and I'm like, Okay,

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Speaker 2: I get to understand why it wasn't. Maybe is Polymarket

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Speaker 2: saying that it wasn't an invasion, I think in order

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Speaker 2: to I think that's why the person is not supposed

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Speaker 2: to win that bed. Okay, an invasion like the Huns

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Speaker 2: invaded the Roman Empire. Yeah, but like we didn't, like,

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Speaker 2: you displace people when you invade, Like there's other things

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Speaker 2: you could call what the current administration did, We call

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Speaker 2: it an operation, a special forces operation. You could call

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Speaker 2: it liberating the oppressed people of Venezuela. That might be

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Speaker 2: overreached too, or you could call it the illegal removal

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Speaker 2: of the toppling of a regime. You can call it what

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Speaker 2: you want, but I don't know. I could get on

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Speaker 2: board with not calling it an invasion.

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Speaker 1: Yes, but that's that's my point though, is who gets

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Speaker 1: to decide? And when your money's at stake, Polly Mark

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Speaker 1: could be like, sorry, you thought you.

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Speaker 2: Won, you lose. Still, all right, let's shift gears away

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Speaker 2: from a potentially controversial topic, Joel. Instead, let's talk about

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Speaker 2: something everyone can agree on, which is the fact that

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Speaker 2: we're all looking for more affordable goods. It all started

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Speaker 2: with Trader Joe's and Costco, but now it has expanded

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Speaker 2: to grocery stores across America, and American consumers are they're

402
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Speaker 2: getting the memo about store brands as they keep getting better. Walmart, Man,

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Speaker 2: have you checked out Better Goods? Better Goods is Walmart's

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Speaker 2: a new by private label launched. I have not part

405
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Speaker 2: taken yet, but I'm not gonna lie. I'm curious. The

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Speaker 2: labels look really good. Yeah, and that's kind of right.

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Speaker 2: Colorful like well designed, nice colors like it's not Yeah, yeah,

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Speaker 2: it seems like it's done well. As to the quality

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Speaker 2: of the goods, not totally sure yet, but private label

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Speaker 2: goods sales are up by four and a half percent

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Speaker 2: year of over year, while name brands are only up

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Speaker 2: one percent. And I do think part of this is affordability, right,

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Speaker 2: Folks are a little more loyal to what's going to

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Speaker 2: allow them to not overspend. But it's also that the

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Speaker 2: private labels have improved a ton. A shocking stat in

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Speaker 2: that story that I saw was that eighty four percent

417
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Speaker 2: of consumers trust in the quality of store brand products

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Speaker 2: more or the same as the national brands. Yeah and yeah,

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Speaker 2: if you're a knee jerk named brand buyer, I think

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Speaker 2: it's time to rethink that strategy, especially as prices are

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Speaker 2: up and these private labels have gotten better.

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Speaker 1: I think twenty years ago, it used to be assumed

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Speaker 1: that the private label store brand goods or whatever were

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Speaker 1: just inferior, and to be honest, they probably were, Like

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Speaker 1: a lot of times they were twenty twenty five years ago.

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Speaker 2: Not if your college age Matt getting picking up his

427
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Speaker 2: frosted mini spooners from Kroger and the giant or maybe

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Speaker 2: that wasn't even Walmart. In the giant bag, I swear

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Speaker 2: I would buy like, I don't know how big. This

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Speaker 2: was like the size of a pillowcase by my Frost

431
00:20:17,119 --> 00:20:18,920
Speaker 2: and Midiwheat knockoffs. And the reason I love I feel

432
00:20:18,920 --> 00:20:20,280
Speaker 2: like Cereal was less of a gamble too.

433
00:20:20,720 --> 00:20:22,600
Speaker 1: You know, you could you could go like off brand

434
00:20:22,600 --> 00:20:24,480
Speaker 1: Cereal and be like, oh, it's not too bad.

435
00:20:24,520 --> 00:20:26,400
Speaker 2: I swear they're even better, and you could see through

436
00:20:26,480 --> 00:20:28,600
Speaker 2: the bag and see the actual pieces. It's because they

437
00:20:28,600 --> 00:20:31,879
Speaker 2: had more uh sugar, it had more of that. So

438
00:20:31,880 --> 00:20:33,280
Speaker 2: that's why I went for it. Man, I was just like,

439
00:20:33,480 --> 00:20:37,439
Speaker 2: those are better, worse for me, better tasting totally. But

440
00:20:38,119 --> 00:20:40,640
Speaker 2: this is It's one of those things where I think

441
00:20:40,960 --> 00:20:43,480
Speaker 2: people don't make the same assumption in anymore. And Kirkland

442
00:20:43,520 --> 00:20:45,240
Speaker 2: signature is certainly part of that. A lot of the

443
00:20:45,480 --> 00:20:48,119
Speaker 2: Trader Joe's private label stuff is part of that. And

444
00:20:48,119 --> 00:20:51,320
Speaker 2: we're seeing just other grocery stores just make a concerted

445
00:20:51,400 --> 00:20:56,119
Speaker 2: effort to increase the attractive attractiveness and the quality and

446
00:20:56,160 --> 00:20:57,840
Speaker 2: the taste of their store.

447
00:20:57,880 --> 00:21:01,520
Speaker 1: Braine Goods, I'm like, yeah when I and that's always

448
00:21:01,520 --> 00:21:03,639
Speaker 1: what Costco has said about Cirkland signature. They were like,

449
00:21:03,640 --> 00:21:06,200
Speaker 1: we won't even make it unless we think we can

450
00:21:06,640 --> 00:21:09,960
Speaker 1: improve on the name brand product. If it's not better

451
00:21:10,200 --> 00:21:11,920
Speaker 1: than what the name brand product is, Like, we don't

452
00:21:11,920 --> 00:21:13,680
Speaker 1: want to what's the point with our label on there?

453
00:21:14,240 --> 00:21:17,240
Speaker 1: And so in some ways, I think you know that

454
00:21:17,240 --> 00:21:19,840
Speaker 1: that survey reflects at least the way I think about

455
00:21:20,240 --> 00:21:22,919
Speaker 1: good store brands that I buy consistently.

456
00:21:23,040 --> 00:21:24,520
Speaker 2: Yeah, just if you're trading, you know, is make sure

457
00:21:24,520 --> 00:21:27,719
Speaker 2: to avoid that copyright infringement that they keep right, keep

458
00:21:27,760 --> 00:21:30,120
Speaker 2: getting it with for making like identical product Trader.

459
00:21:29,920 --> 00:21:34,000
Speaker 1: Hose's right, Yeah, and Aldi is the fastest growing grocer

460
00:21:34,040 --> 00:21:36,040
Speaker 1: in the United States. Map Oh, I know that warms

461
00:21:36,040 --> 00:21:40,600
Speaker 1: your heart something like what they sell is store brands.

462
00:21:40,160 --> 00:21:41,080
Speaker 2: It's awesome.

463
00:21:41,080 --> 00:21:43,200
Speaker 1: Their store brands have gotten better and better and better.

464
00:21:43,560 --> 00:21:45,760
Speaker 1: And oh okay, they're and they're adding more stores this year.

465
00:21:45,840 --> 00:21:47,719
Speaker 2: I think. I think it's all like one hundred and

466
00:21:47,720 --> 00:21:50,200
Speaker 2: eighty news, like they're opening more stores and I think

467
00:21:50,240 --> 00:21:52,639
Speaker 2: this year than the first year of their operation in

468
00:21:52,680 --> 00:21:56,200
Speaker 2: the US, which I'm so happy for so many Americans

469
00:21:56,400 --> 00:21:59,080
Speaker 2: who are going to finally get to taste the great

470
00:21:59,080 --> 00:22:02,159
Speaker 2: food and low prices of I'm curious to hear you

471
00:22:02,240 --> 00:22:02,639
Speaker 2: take on this.

472
00:22:03,119 --> 00:22:06,840
Speaker 1: I saw a study from Cornell and they basically said, Hey,

473
00:22:06,960 --> 00:22:09,600
Speaker 1: guess what another way to save money on groceries is

474
00:22:10,320 --> 00:22:11,879
Speaker 1: taking GLP ones.

475
00:22:12,600 --> 00:22:17,720
Speaker 2: What do you think? I think that makes sense because

476
00:22:17,720 --> 00:22:19,520
Speaker 2: it causes you to eat less. Therefore you spend less

477
00:22:19,520 --> 00:22:20,320
Speaker 2: at the grocery store.

478
00:22:20,240 --> 00:22:25,000
Speaker 1: Right less hungry. They basically they specifically found that households

479
00:22:25,040 --> 00:22:28,680
Speaker 1: cut grocery spending by five percent in the six months

480
00:22:28,720 --> 00:22:33,200
Speaker 1: after using wi Govi or ozempic and spending on fast

481
00:22:33,200 --> 00:22:35,440
Speaker 1: food and sweets and snacks in particular, which are some

482
00:22:35,520 --> 00:22:38,240
Speaker 1: of the pricier, less filling products you can get at

483
00:22:38,280 --> 00:22:43,399
Speaker 1: the grocery store. Spending on those products went down meaningfully too. Obviously,

484
00:22:43,480 --> 00:22:46,560
Speaker 1: the long term impact of those drugs is still somewhat unknown.

485
00:22:46,880 --> 00:22:49,800
Speaker 1: But and I'm not suggesting I don't think you are either,

486
00:22:49,880 --> 00:22:53,199
Speaker 1: math that everyone out there go like, take on a

487
00:22:53,200 --> 00:22:57,280
Speaker 1: prescripture for these. They're also still they're getting cheaper, especially

488
00:22:57,400 --> 00:23:00,600
Speaker 1: by Dictate, but they're still relatively expensive. All though I

489
00:23:00,680 --> 00:23:02,560
Speaker 1: think in the not too just a future, I think

490
00:23:02,600 --> 00:23:06,560
Speaker 1: in Canada you can now get as of maybe this month,

491
00:23:07,119 --> 00:23:10,880
Speaker 1: you're you're able to get generic GLP ones which will

492
00:23:11,040 --> 00:23:12,119
Speaker 1: dramatically reduce.

493
00:23:11,880 --> 00:23:15,439
Speaker 2: The cost generic GLP ones and in pill form, Like

494
00:23:15,480 --> 00:23:17,440
Speaker 2: I think that's when it's going to go more mainstream.

495
00:23:17,760 --> 00:23:20,440
Speaker 2: Honestly though, I'm I'm surprised that it's not even more

496
00:23:20,520 --> 00:23:23,160
Speaker 2: of a savings because you think about how much less

497
00:23:23,200 --> 00:23:25,760
Speaker 2: people talk about eating. It's like only a five percent

498
00:23:25,880 --> 00:23:27,960
Speaker 2: drop in groceries. That actually kind of surprises me. You

499
00:23:28,040 --> 00:23:30,280
Speaker 2: think it be what ten to fifteen? Yeah, I mean yeah,

500
00:23:30,440 --> 00:23:32,560
Speaker 2: I would think like I think, I bet folks would say, well,

501
00:23:32,560 --> 00:23:35,679
Speaker 2: I'm eating, oh my gosh, twenty percent less, and so

502
00:23:35,760 --> 00:23:38,639
Speaker 2: I would kind of expect to see twenty percent reduction

503
00:23:38,800 --> 00:23:39,880
Speaker 2: in groceries.

504
00:23:39,440 --> 00:23:41,840
Speaker 1: As well well, especially because like the snacks and the

505
00:23:41,840 --> 00:23:44,040
Speaker 1: sweets like those are those are also more expensive.

506
00:23:44,160 --> 00:23:46,680
Speaker 2: You you should see an outsized impact. Bag of chips

507
00:23:46,720 --> 00:23:48,879
Speaker 2: is like six dollars now, man, dude, I wonder I

508
00:23:48,880 --> 00:23:50,520
Speaker 2: would not be Okay, So a lot of our grocery

509
00:23:50,520 --> 00:23:52,760
Speaker 2: shopping takes place out of habit, like when you go

510
00:23:52,840 --> 00:23:54,760
Speaker 2: to the store, you get this, you know, like you

511
00:23:54,800 --> 00:23:56,240
Speaker 2: get what you get a lot of times, or at

512
00:23:56,320 --> 00:23:59,840
Speaker 2: least that's how we shop. Maybe other people aren't in

513
00:24:00,119 --> 00:24:02,000
Speaker 2: the habit of doing it this way. I would love

514
00:24:02,040 --> 00:24:04,280
Speaker 2: to know how much food waste is there at home

515
00:24:04,440 --> 00:24:06,600
Speaker 2: as people are buying the same thing. They've adjusted their

516
00:24:06,640 --> 00:24:09,120
Speaker 2: spending a little bit, but instead they're like, oh man,

517
00:24:09,600 --> 00:24:12,399
Speaker 2: tossing out like you're used to getting, like, uhs, a

518
00:24:12,400 --> 00:24:15,200
Speaker 2: couple of cartons of eggs, a certain amount of milk, bread,

519
00:24:15,480 --> 00:24:18,160
Speaker 2: go few heads of broccoli? How much broccoli are people

520
00:24:18,200 --> 00:24:20,840
Speaker 2: throwing out because they're not getting around to eating it

521
00:24:20,880 --> 00:24:23,560
Speaker 2: because they're just like, ah, I'm just not that hungry.

522
00:24:24,119 --> 00:24:27,720
Speaker 2: And I wouldn't be surprised if over time, as like

523
00:24:27,760 --> 00:24:30,359
Speaker 2: if this was a longer study, I wouldn't be surprised

524
00:24:30,400 --> 00:24:33,080
Speaker 2: if the impacts stack as people are getting used to

525
00:24:33,400 --> 00:24:35,960
Speaker 2: consuming less, therefore they start actually spending less when they're

526
00:24:35,960 --> 00:24:37,040
Speaker 2: at the grocery store. I like it.

527
00:24:37,320 --> 00:24:39,600
Speaker 1: Are we got more to get to, including Pokemon card

528
00:24:39,800 --> 00:24:43,320
Speaker 1: investing and some shocking news for used car buyers.

529
00:24:43,320 --> 00:24:53,520
Speaker 2: We'll talk about that more right after this. All right, buddy,

530
00:24:53,560 --> 00:24:55,720
Speaker 2: we are back from the break. It is now time

531
00:24:55,760 --> 00:24:58,640
Speaker 2: for the ludicrous headline of the week, which this week

532
00:24:58,680 --> 00:25:02,119
Speaker 2: is from Business. I will say I feel like Business

533
00:25:02,119 --> 00:25:04,119
Speaker 2: Insider maybe they take the lead on the number of

534
00:25:04,160 --> 00:25:06,280
Speaker 2: ludicrous headlines that we've taken from them.

535
00:25:06,280 --> 00:25:09,800
Speaker 1: Provocative headlines. Yeah, so they're covered some interesting stuff though.

536
00:25:10,119 --> 00:25:12,280
Speaker 1: I feel like the stories are good, but yeah, the

537
00:25:12,280 --> 00:25:13,040
Speaker 1: headlines are better.

538
00:25:15,000 --> 00:25:18,520
Speaker 2: The headline for this one reads, Logan Paul says young

539
00:25:18,560 --> 00:25:22,000
Speaker 2: investors should consider non traditional assets over stocks as Hee

540
00:25:22,040 --> 00:25:25,080
Speaker 2: auctions a five point three million dollar Pokemon card, which,

541
00:25:25,320 --> 00:25:27,239
Speaker 2: of course, first of all, I feel like I need

542
00:25:27,280 --> 00:25:29,520
Speaker 2: to address like the elephant in the room, Like five

543
00:25:29,520 --> 00:25:31,960
Speaker 2: point three million dollars for a Pokemon card? Who knew?

544
00:25:31,960 --> 00:25:33,800
Speaker 2: What's that all about? Dude, I don't know. Yep, you

545
00:25:33,880 --> 00:25:35,480
Speaker 2: got Pokemon cards over your house.

546
00:25:35,600 --> 00:25:39,200
Speaker 1: Uh yeah, my son loves Pokemon cards, but he's sick,

547
00:25:39,240 --> 00:25:41,480
Speaker 1: so he could care less about the value.

548
00:25:41,520 --> 00:25:44,119
Speaker 2: They just they're all bent, so they're actually not worth millions.

549
00:25:44,160 --> 00:25:46,600
Speaker 2: They could have been though. That's probably true. Man, this

550
00:25:46,640 --> 00:25:49,719
Speaker 2: could have been your everything fund, buddy. That's gonna be collish,

551
00:25:49,920 --> 00:25:52,400
Speaker 2: your first car, your first house. Yeah. If I look

552
00:25:52,440 --> 00:25:54,000
Speaker 2: up Logan Pol's and I'm like, dude, you've got the

553
00:25:54,000 --> 00:25:56,760
Speaker 2: exact same one. But it's been it's such a I mean,

554
00:25:56,800 --> 00:25:58,399
Speaker 2: I know it's such a long shot though, but still

555
00:25:58,440 --> 00:26:00,280
Speaker 2: even I'm sure the chance makes a lot of people

556
00:26:00,320 --> 00:26:02,760
Speaker 2: want to come through. Like one of my daughters has

557
00:26:02,800 --> 00:26:04,880
Speaker 2: a bunch of Pokemon cards, not because we buy them

558
00:26:04,920 --> 00:26:06,680
Speaker 2: for I don't know where she gets them. She says

559
00:26:06,680 --> 00:26:08,359
Speaker 2: that friends from school give, like give the ones they

560
00:26:08,400 --> 00:26:08,720
Speaker 2: don't want.

561
00:26:08,840 --> 00:26:08,879
Speaker 1: You.

562
00:26:08,920 --> 00:26:11,199
Speaker 2: Kids are always trading stuff like that. Yeah, I think

563
00:26:11,200 --> 00:26:14,080
Speaker 2: they're trading. I think she's like, she's like Tom Sawyer.

564
00:26:14,119 --> 00:26:17,560
Speaker 2: She's trading like a broken pencil eraser like for for

565
00:26:17,640 --> 00:26:20,080
Speaker 2: like some kids lunch and they're like, oh sweet pencil.

566
00:26:20,600 --> 00:26:25,000
Speaker 2: He's like, oh, I'm hungry anyway, Pokemon cards. That's one thing. Also,

567
00:26:25,200 --> 00:26:29,280
Speaker 2: let this be a lesson take investing advice from influencers

568
00:26:29,640 --> 00:26:32,639
Speaker 2: with a grain of salt, especially if they stand to

569
00:26:32,680 --> 00:26:36,120
Speaker 2: gain financially if you follow their advice. Love and Paul, the.

570
00:26:36,040 --> 00:26:38,479
Speaker 1: One who did like some sort of crypto scheme, made

571
00:26:38,520 --> 00:26:40,359
Speaker 1: a lot of money, but all followers lost a.

572
00:26:40,320 --> 00:26:40,760
Speaker 2: Lot of money.

573
00:26:40,800 --> 00:26:43,359
Speaker 1: He does everything, and I'm just shocked that people would

574
00:26:43,359 --> 00:26:47,680
Speaker 1: still listen to him or still follow someone who led

575
00:26:47,720 --> 00:26:48,360
Speaker 1: them down that path.

576
00:26:48,440 --> 00:26:52,239
Speaker 2: Dude. Yeah, so Charlie Munger, show me the incentive and

577
00:26:52,320 --> 00:26:54,879
Speaker 2: I will show you the outcome. Like this is a

578
00:26:55,080 --> 00:26:59,199
Speaker 2: classic instance where he stands to gain man and he

579
00:26:59,240 --> 00:27:02,320
Speaker 2: said in that article don't be afraid to take a risk.

580
00:27:02,400 --> 00:27:04,199
Speaker 2: Is this how he talks. I don't know, don't be

581
00:27:04,200 --> 00:27:06,959
Speaker 2: afraid to take a risk, especially if you're young. And

582
00:27:07,359 --> 00:27:11,520
Speaker 2: there's some there's like every bad advice bad advice, there

583
00:27:11,560 --> 00:27:13,719
Speaker 2: is a little kernel of truth at the center of it,

584
00:27:13,760 --> 00:27:16,640
Speaker 2: like you do actually have time to recover. But smart

585
00:27:16,640 --> 00:27:20,200
Speaker 2: traditional investing early it goes a long way towards kicking

586
00:27:20,240 --> 00:27:23,680
Speaker 2: off the compounding process, and this is not something we

587
00:27:23,720 --> 00:27:26,320
Speaker 2: want to see people do. Stick with a widely diversified,

588
00:27:26,320 --> 00:27:29,040
Speaker 2: low cost index fund in your retirement account.

589
00:27:29,040 --> 00:27:31,679
Speaker 1: There's also so much more volatility right in the alternative

590
00:27:31,720 --> 00:27:34,639
Speaker 1: asset space, and so it's really easy to see something

591
00:27:34,760 --> 00:27:37,359
Speaker 1: just like go up into the right and then until

592
00:27:37,359 --> 00:27:41,200
Speaker 1: it doesn't right. Like beanie babies, I think there's been

593
00:27:41,280 --> 00:27:43,560
Speaker 1: I saw a recent article about how maybe some of

594
00:27:43,560 --> 00:27:46,000
Speaker 1: them are going back up in value. I don't know though,

595
00:27:46,160 --> 00:27:47,960
Speaker 1: if people have been holding one of those beanie babies

596
00:27:48,000 --> 00:27:50,440
Speaker 1: for a long time, maybe a few people made bukoos

597
00:27:50,440 --> 00:27:53,720
Speaker 1: of dollars if they had one of those rare beanie

598
00:27:53,760 --> 00:27:56,960
Speaker 1: babies that people craved or something like that. But for

599
00:27:57,000 --> 00:27:59,080
Speaker 1: the most part, people spend a lot of money on

600
00:27:59,119 --> 00:28:01,000
Speaker 1: beanie babies in hopes that they would go up in value,

601
00:28:01,000 --> 00:28:03,240
Speaker 1: and now they're sitting with like a giant bucket of

602
00:28:03,240 --> 00:28:05,879
Speaker 1: them at home that's been in the attic for the

603
00:28:05,960 --> 00:28:09,440
Speaker 1: last twenty five or thirty years. So in the stock market,

604
00:28:09,480 --> 00:28:12,720
Speaker 1: unlike trading cards, it's not a fad. So in speaking

605
00:28:12,760 --> 00:28:15,120
Speaker 1: of investing, the Wall Street Journal had an article about

606
00:28:15,119 --> 00:28:18,000
Speaker 1: the benefits of bear markets, which sounds like an oxymoron.

607
00:28:18,040 --> 00:28:20,000
Speaker 1: You're like bear market that means the market's going down.

608
00:28:20,640 --> 00:28:23,520
Speaker 1: How's their benefit to that? But a down market is

609
00:28:23,560 --> 00:28:27,600
Speaker 1: often a necessary correction when exuberance is off the charts,

610
00:28:28,320 --> 00:28:30,520
Speaker 1: and it's also not an abnormal experience. Like I have

611
00:28:30,560 --> 00:28:32,359
Speaker 1: no idea, I'm not making any prediction about what's going

612
00:28:32,440 --> 00:28:35,399
Speaker 1: to happen in the stock market. With the stock market

613
00:28:35,400 --> 00:28:38,920
Speaker 1: this year, I think basically all of the Wall Street

614
00:28:38,960 --> 00:28:41,480
Speaker 1: firms that make predictions have said, oh, yeah, the market's

615
00:28:41,520 --> 00:28:44,040
Speaker 1: going to crush this year. That doesn't lead me to

616
00:28:44,080 --> 00:28:48,160
Speaker 1: believe that they're right. And investors should be expecting a

617
00:28:48,240 --> 00:28:51,080
Speaker 1: down year from time to time, on average, what every

618
00:28:51,440 --> 00:28:54,480
Speaker 1: five and a half years, And if you're properly diversified,

619
00:28:54,520 --> 00:28:57,640
Speaker 1: if you have the right mindset, well, a bear market

620
00:28:57,680 --> 00:28:59,200
Speaker 1: could be a good thing for you. If you keep

621
00:28:59,200 --> 00:29:02,640
Speaker 1: that mantra that Nick Majulia mantra, just keep buying. If

622
00:29:02,680 --> 00:29:05,680
Speaker 1: you're like, oh, market's going down, and at first, for

623
00:29:05,720 --> 00:29:07,720
Speaker 1: a second you're probably like, oh, yeah, that's not good.

624
00:29:07,760 --> 00:29:10,040
Speaker 1: I'm seeing my balance go down. But if you're still

625
00:29:10,240 --> 00:29:14,480
Speaker 1: buying regularly, still in that wealth building phase of life,

626
00:29:14,560 --> 00:29:16,720
Speaker 1: dollar cost averaging into your four oh one K or

627
00:29:16,720 --> 00:29:21,200
Speaker 1: buying regularly in your roth IRA or your taxable broker's account,

628
00:29:21,240 --> 00:29:23,960
Speaker 1: whatever it is, you're taking advantage of a bear market.

629
00:29:24,000 --> 00:29:26,040
Speaker 1: And so I think for a lot of younger hout

630
00:29:26,080 --> 00:29:28,120
Speaker 1: of money listeners in that wealth building phases their life, yeah,

631
00:29:28,120 --> 00:29:30,160
Speaker 1: it's a it's actually a good Thing's.

632
00:29:29,760 --> 00:29:32,480
Speaker 2: A good opportunity. Absolutely. Yeah. There is another great article

633
00:29:32,520 --> 00:29:35,760
Speaker 2: about the benefits of actually doing nothing when it comes

634
00:29:35,880 --> 00:29:39,520
Speaker 2: to your portfolio, what's going on in the markets, the news,

635
00:29:39,560 --> 00:29:42,880
Speaker 2: the headlines. As an investor, sitting on your hands while

636
00:29:42,960 --> 00:29:46,400
Speaker 2: just making those regular contributions is a really solid plan.

637
00:29:46,520 --> 00:29:48,960
Speaker 2: And if you look back, man, with all the economic

638
00:29:49,040 --> 00:29:52,040
Speaker 2: risks that we saw last year, like Tarras, the geopolitical

639
00:29:52,120 --> 00:29:54,800
Speaker 2: tensions that we saw and we're still continuing to see,

640
00:29:54,880 --> 00:29:57,920
Speaker 2: uh huh, despite a rough start to twenty twenty five,

641
00:29:57,960 --> 00:30:01,040
Speaker 2: your portfolio it's still performed really well, if you stayed

642
00:30:01,080 --> 00:30:04,520
Speaker 2: the course, we ended twenty twenty five, like around close

643
00:30:04,560 --> 00:30:06,520
Speaker 2: to twenty I think it was eighteen percent. Yeah, this

644
00:30:06,560 --> 00:30:07,520
Speaker 2: is the third year in a row.

645
00:30:07,600 --> 00:30:09,840
Speaker 1: Not as high as many other countries, many other countries,

646
00:30:09,920 --> 00:30:13,200
Speaker 1: not as head stock markets that vastly outperformed the United States.

647
00:30:13,240 --> 00:30:16,280
Speaker 2: But I mean how many years of folks. Yeah, going

648
00:30:16,320 --> 00:30:19,360
Speaker 2: back to what you said previously, Yes, bear markets are good.

649
00:30:19,400 --> 00:30:23,880
Speaker 2: It's good to have corrections because the unbridled exuberance is

650
00:30:23,920 --> 00:30:27,000
Speaker 2: not something like what is not something that is sustainable.

651
00:30:27,360 --> 00:30:30,720
Speaker 2: Would I rather see a nice eight and a half

652
00:30:30,800 --> 00:30:34,080
Speaker 2: percent year after year? Oh? Absolutely, And that's what the

653
00:30:34,120 --> 00:30:38,240
Speaker 2: market has actually proven out over the past one hundred years.

654
00:30:38,720 --> 00:30:41,280
Speaker 2: That being said, the swings, the ups and the downs,

655
00:30:41,280 --> 00:30:45,600
Speaker 2: that accounts for some of that emotional decision making that

656
00:30:45,640 --> 00:30:48,720
Speaker 2: finds us way into the market. So count on that.

657
00:30:48,800 --> 00:30:50,520
Speaker 1: And I think what you're getting at with the just

658
00:30:50,520 --> 00:30:52,680
Speaker 1: doing nothing thing. It makes me think of this Peer

659
00:30:52,760 --> 00:30:55,360
Speaker 1: Lynch quote when he said far more money has been

660
00:30:55,400 --> 00:30:59,080
Speaker 1: lost by investors trying to anticipate corrections then lost in

661
00:30:59,080 --> 00:31:04,040
Speaker 1: the corrections the cells and when you listen to the naysayers,

662
00:31:04,120 --> 00:31:07,360
Speaker 1: to the people who say it's a pessimism just kind

663
00:31:07,360 --> 00:31:10,280
Speaker 1: of sells like it makes sense, right. Pessimism often makes

664
00:31:10,320 --> 00:31:13,040
Speaker 1: sense because there are so many negative things happening in

665
00:31:13,080 --> 00:31:15,640
Speaker 1: our country and in the world, and so it's easy

666
00:31:15,680 --> 00:31:17,960
Speaker 1: to focus on those and be like, well, clearly that's

667
00:31:17,960 --> 00:31:21,640
Speaker 1: going to affect our economic engine. Right, And potential hurdles

668
00:31:21,840 --> 00:31:25,680
Speaker 1: always abound, but so do potential breakthroughs, and so, as

669
00:31:25,800 --> 00:31:28,880
Speaker 1: Morgan Housel would say, invest like an optimist. And if

670
00:31:28,880 --> 00:31:31,800
Speaker 1: you're trying to change things around in your portfolio because

671
00:31:31,800 --> 00:31:34,200
Speaker 1: you're worried about the future and you don't want to

672
00:31:34,200 --> 00:31:38,120
Speaker 1: see your balance go down, odds are in most years

673
00:31:38,280 --> 00:31:41,120
Speaker 1: that's gonna be a bad decision. Let's talk about streaming

674
00:31:41,560 --> 00:31:44,200
Speaker 1: for a second. Matt is cable on the comeback.

675
00:31:44,760 --> 00:31:47,880
Speaker 2: Well, the cost of YouTube premium, I think folks are

676
00:31:47,920 --> 00:31:50,320
Speaker 2: willing to consider, you know, all these things come by.

677
00:31:50,520 --> 00:31:55,080
Speaker 1: It's been interesting to see because cable companies aren't you know,

678
00:31:55,120 --> 00:31:57,320
Speaker 1: they haven't done well over the past decade as streaming

679
00:31:57,320 --> 00:32:01,400
Speaker 1: has emerged. But as streaming as become more and more expensive,

680
00:32:01,880 --> 00:32:06,000
Speaker 1: PayTV isn't declining like it used to like it was.

681
00:32:06,480 --> 00:32:09,640
Speaker 1: And at first, what seemed like this unalloyed good, right,

682
00:32:09,680 --> 00:32:14,400
Speaker 1: that streaming was going to be this money saving thing

683
00:32:14,600 --> 00:32:18,480
Speaker 1: for consumers. Right, They don't have to put up with ads,

684
00:32:19,000 --> 00:32:22,280
Speaker 1: and it's just easier to watch whatever you want to watch,

685
00:32:22,320 --> 00:32:25,800
Speaker 1: when you want to watch it. Hmm, that doesn't Streaming

686
00:32:25,800 --> 00:32:29,400
Speaker 1: doesn't quite feel like it did in twenty fifteen.

687
00:32:29,600 --> 00:32:29,800
Speaker 2: Right.

688
00:32:30,320 --> 00:32:31,840
Speaker 1: It's changed a little bit in some ways for the better,

689
00:32:31,920 --> 00:32:34,720
Speaker 1: but in some ways for worse. And also just like

690
00:32:34,760 --> 00:32:38,040
Speaker 1: so many streaming companies and rising prices that it's really

691
00:32:38,120 --> 00:32:42,720
Speaker 1: hard for individuals to save money because they've pulled in

692
00:32:42,720 --> 00:32:46,600
Speaker 1: so many different directions, and cable companies and streamers are

693
00:32:46,640 --> 00:32:51,520
Speaker 1: making these mutually beneficial deals on bundles, and so more

694
00:32:51,560 --> 00:32:54,320
Speaker 1: folks are opting for this mix now of live TV

695
00:32:54,520 --> 00:32:58,280
Speaker 1: and streaming options. But if you're opting for both, that

696
00:32:58,320 --> 00:33:02,800
Speaker 1: means it's going to be even more expensive and truly truly,

697
00:33:02,840 --> 00:33:06,480
Speaker 1: as we've always said, like watching less TV, having fewer subscriptions.

698
00:33:06,840 --> 00:33:09,840
Speaker 1: This is the answer here. It might mean saying no

699
00:33:10,040 --> 00:33:12,840
Speaker 1: to like an awesome new TV series that you're like,

700
00:33:12,920 --> 00:33:16,000
Speaker 1: I'm interested in watching, like Stranger Things season five or

701
00:33:16,040 --> 00:33:17,240
Speaker 1: something like that. Maybe you're like, all right, you know what,

702
00:33:17,240 --> 00:33:19,520
Speaker 1: I'm gonna set this one out. I'd rather have my money,

703
00:33:19,800 --> 00:33:21,440
Speaker 1: and clearly everyone knows.

704
00:33:21,240 --> 00:33:21,760
Speaker 2: This at this point.

705
00:33:21,800 --> 00:33:25,080
Speaker 1: I think, but like live sports is the most expensive,

706
00:33:25,840 --> 00:33:29,800
Speaker 1: and the games have been essentially dispensed across the multitude

707
00:33:30,160 --> 00:33:32,040
Speaker 1: of streaming channels, and so if you want to watch

708
00:33:32,080 --> 00:33:34,520
Speaker 1: every live sports game, you're gonna pay a pretty penny

709
00:33:34,560 --> 00:33:36,280
Speaker 1: for the for the privilege of doing so.

710
00:33:36,400 --> 00:33:40,920
Speaker 2: That's true. Yeah, But despite rising prices the proliferation of services,

711
00:33:41,480 --> 00:33:43,640
Speaker 2: there is some good news on this front. There are

712
00:33:43,640 --> 00:33:46,680
Speaker 2: more free streaming options that I think folks should consider

713
00:33:46,720 --> 00:33:48,520
Speaker 2: because they've gotten better. It's kind of like the private

714
00:33:48,560 --> 00:33:50,760
Speaker 2: label at the grocery stores. There's like there's some serious

715
00:33:50,760 --> 00:33:53,600
Speaker 2: advantages here to be I think that's how you say it.

716
00:33:53,640 --> 00:33:56,120
Speaker 2: I've never actually entered a discussion with anybody. Well, we

717
00:33:56,160 --> 00:33:58,880
Speaker 2: talked about to be, but rot I did watch something

718
00:33:58,920 --> 00:34:03,560
Speaker 2: on there, would you wan Platoon? The old film? Yeah? Oh,

719
00:34:03,720 --> 00:34:06,479
Speaker 2: and what's Scorsese Vietnam? This is Scorsese v Younam Moore.

720
00:34:06,480 --> 00:34:09,640
Speaker 2: I don't know, but Roku, maybe it's Francis for Copola.

721
00:34:09,680 --> 00:34:11,920
Speaker 2: I don't know. I don't know either, some awesome director,

722
00:34:12,000 --> 00:34:13,920
Speaker 2: right crackle, that's another one that's out there. But I'm

723
00:34:13,920 --> 00:34:16,320
Speaker 2: just pointing to some of these great free options, and

724
00:34:16,400 --> 00:34:19,200
Speaker 2: I think fewer paid services and just using them more sparingly,

725
00:34:19,880 --> 00:34:22,200
Speaker 2: plus certainly consulting the free ones more often, Like that

726
00:34:22,400 --> 00:34:24,239
Speaker 2: is going to be a good recipe to follow in

727
00:34:24,360 --> 00:34:28,040
Speaker 2: order to lower that streaming bill the subscription costs that

728
00:34:28,200 --> 00:34:30,560
Speaker 2: are automatically getting drafted from your account, and that's the

729
00:34:30,880 --> 00:34:33,279
Speaker 2: I think that's the biggest slippery slope, is like you

730
00:34:33,400 --> 00:34:35,479
Speaker 2: get it, there's something you do want to watch because

731
00:34:35,520 --> 00:34:39,279
Speaker 2: it's exclusively there, and then you keep it around even

732
00:34:39,320 --> 00:34:41,000
Speaker 2: when you're not taking advantage of it. That's something we

733
00:34:41,080 --> 00:34:43,439
Speaker 2: even did over the holidays because they're, oh, there's there's

734
00:34:43,480 --> 00:34:45,319
Speaker 2: like this, there's a couple of cooking shows we want

735
00:34:45,360 --> 00:34:49,160
Speaker 2: to watch as a family, which, by the way, we're

736
00:34:49,160 --> 00:34:51,080
Speaker 2: starting starting a glimpse like the future of like the

737
00:34:51,160 --> 00:34:53,239
Speaker 2: kids getting older than them having interests. And this is

738
00:34:53,280 --> 00:34:54,520
Speaker 2: like the first show that Kate and I have watch

739
00:34:54,520 --> 00:34:57,560
Speaker 2: where we're like, yes, this is awesome. This is something

740
00:34:57,600 --> 00:35:01,160
Speaker 2: that we enjoy that y'all are also interested in. But

741
00:35:01,640 --> 00:35:04,759
Speaker 2: are we watching that right now? No, because we're back

742
00:35:04,800 --> 00:35:08,040
Speaker 2: to school and life and kids. You know, everybody's busy.

743
00:35:08,400 --> 00:35:12,760
Speaker 2: Have I canceled that Netflix subscription? No? And I probably

744
00:35:12,800 --> 00:35:15,320
Speaker 2: should but everybody wants a piece of that recurring You

745
00:35:15,360 --> 00:35:17,279
Speaker 2: can do a right after a un recording subscription. It

746
00:35:17,320 --> 00:35:20,360
Speaker 2: makes me well. Even Tesla, speaking of subscriptions, they announced

747
00:35:20,560 --> 00:35:24,120
Speaker 2: full self driving is only going to be available via subscription.

748
00:35:24,280 --> 00:35:27,319
Speaker 2: Just evens out that that revenue flow and helps them

749
00:35:27,360 --> 00:35:30,719
Speaker 2: to make decisions better from a business. But that just

750
00:35:30,840 --> 00:35:34,280
Speaker 2: means consumers are on the hook for another recurrence, another subscription.

751
00:35:34,680 --> 00:35:37,200
Speaker 2: And we've talked about that with cars too. Just write

752
00:35:37,239 --> 00:35:39,600
Speaker 2: the heated seat subscription.

753
00:35:40,040 --> 00:35:44,400
Speaker 1: It's as cars are more connected and the manufacturers have

754
00:35:45,120 --> 00:35:47,560
Speaker 1: have the ability to make updates over Wi Fi.

755
00:35:47,680 --> 00:35:50,280
Speaker 2: How cool is that. Well, they also have more control

756
00:35:50,320 --> 00:35:52,520
Speaker 2: over that car and can charge you for the ability

757
00:35:52,520 --> 00:35:55,160
Speaker 2: to use certain features. Yeah, speaking of cars, you want

758
00:35:55,160 --> 00:35:57,120
Speaker 2: to get to our next story, Well, yeah, let's do it.

759
00:35:57,280 --> 00:35:59,279
Speaker 1: We're gonna do this briefly because I feel like we've

760
00:35:59,280 --> 00:36:01,880
Speaker 1: talked about this a lot, but a new milestone has

761
00:36:01,920 --> 00:36:04,520
Speaker 1: been reached, Matt. There's one hundred month car loan now

762
00:36:04,680 --> 00:36:09,399
Speaker 1: in existence, and it's just tough to fathom that people

763
00:36:09,440 --> 00:36:11,879
Speaker 1: are signing up for eight plus years. Yeah, I don't

764
00:36:11,880 --> 00:36:13,600
Speaker 1: know what that is. It's like eight something years, eight

765
00:36:13,680 --> 00:36:16,879
Speaker 1: point three years. Yeah, it's insane too long.

766
00:36:17,080 --> 00:36:18,279
Speaker 2: Yeah, and the.

767
00:36:19,800 --> 00:36:22,919
Speaker 1: Like our thesis has always been, don't take on debt

768
00:36:23,000 --> 00:36:26,600
Speaker 1: for a depreciating asset, and if you absolutely must, like

769
00:36:26,719 --> 00:36:30,080
Speaker 1: take on car debt, keep it limited to thirty six

770
00:36:30,200 --> 00:36:32,080
Speaker 1: or forty two months. But the idea of extending it

771
00:36:32,120 --> 00:36:34,279
Speaker 1: all the way to one hundred months. We're seeing even

772
00:36:34,360 --> 00:36:37,840
Speaker 1: already kind of the downsides of extremely long car loans

773
00:36:37,920 --> 00:36:40,560
Speaker 1: and people trading in cars that they're massively upside down on,

774
00:36:41,440 --> 00:36:44,120
Speaker 1: increasing the interest rate and their overall car debt, and

775
00:36:44,239 --> 00:36:46,200
Speaker 1: being even more upside down to the next car they buy.

776
00:36:46,280 --> 00:36:50,000
Speaker 1: It's just this slippery slope and just because someone says, yeah,

777
00:36:50,120 --> 00:36:52,479
Speaker 1: we'll finance that car for you over the next eight years,

778
00:36:52,880 --> 00:36:54,239
Speaker 1: doesn't mean you should take them up on it.

779
00:36:54,560 --> 00:36:56,560
Speaker 2: Yeah. And by the way, new numbers from Edmonds shows

780
00:36:56,600 --> 00:36:59,920
Speaker 2: that it's not just new cars that are the budget busters.

781
00:37:00,120 --> 00:37:03,160
Speaker 2: Six point three percent of used car buyers are facing

782
00:37:03,280 --> 00:37:07,759
Speaker 2: down one thousand dollars monthly car payments as well. And so, man,

783
00:37:07,800 --> 00:37:09,800
Speaker 2: it's just about trying, like getting out there, trying to

784
00:37:09,800 --> 00:37:12,880
Speaker 2: find a well loved, older car that is in good shape.

785
00:37:13,400 --> 00:37:15,640
Speaker 2: And this is a story that Michelle friend of the show,

786
00:37:15,680 --> 00:37:18,920
Speaker 2: Michelle Singletary wrote, But one thing that I didn't like

787
00:37:19,160 --> 00:37:21,560
Speaker 2: is she's just talking about for many people, it's like

788
00:37:21,640 --> 00:37:24,000
Speaker 2: it's not how it's not a luxury And I agree,

789
00:37:24,440 --> 00:37:27,640
Speaker 2: but luxury cars are a luxuries, and luxury cars aren't

790
00:37:27,880 --> 00:37:30,000
Speaker 2: what is necessary to get you to work. That's what

791
00:37:30,120 --> 00:37:32,040
Speaker 2: she was talking to speaking to, right, the fact that

792
00:37:32,120 --> 00:37:36,480
Speaker 2: you gotta have reliable transportation. And just the man, there's

793
00:37:36,560 --> 00:37:39,200
Speaker 2: like lifestyle inflation, the hedonic treumble, like we have all

794
00:37:39,800 --> 00:37:42,560
Speaker 2: found ourselves liking nicer and nicer things. I just think

795
00:37:42,560 --> 00:37:45,160
Speaker 2: about how nice everything is, Like everything is so nice,

796
00:37:45,920 --> 00:37:48,480
Speaker 2: but it doesn't have to be like bring back like

797
00:37:48,800 --> 00:37:52,439
Speaker 2: this makes me think of was it slate, the slight auto,

798
00:37:52,480 --> 00:37:55,160
Speaker 2: the little evy truck, like interchangeable. One of the things

799
00:37:55,200 --> 00:37:56,960
Speaker 2: that made that so attractive to me was the fact

800
00:37:57,000 --> 00:38:01,360
Speaker 2: that not bare minimum, like bare bones, like the windows

801
00:38:01,440 --> 00:38:04,480
Speaker 2: were manual windows, Like take an old school a little bit.

802
00:38:04,560 --> 00:38:07,080
Speaker 2: If there are folks out there who are willing to

803
00:38:07,239 --> 00:38:09,759
Speaker 2: purchase something that's going to be more affordable, it's going

804
00:38:09,800 --> 00:38:11,880
Speaker 2: to be more budget friendly, that doesn't have all the

805
00:38:11,920 --> 00:38:14,200
Speaker 2: bells and whistles. Man, everything doesn't have to be a computer,

806
00:38:14,320 --> 00:38:15,920
Speaker 2: And that's the direction we're moving.

807
00:38:15,960 --> 00:38:17,520
Speaker 1: Yeah, I know when I was buying used cars, Matt,

808
00:38:17,600 --> 00:38:19,240
Speaker 1: like twenty years ago, you can get a pre solid

809
00:38:19,320 --> 00:38:22,320
Speaker 1: used car for like three four five thousand dollars, not

810
00:38:22,520 --> 00:38:24,680
Speaker 1: like anything that somebody was going to be fawn over,

811
00:38:25,040 --> 00:38:27,080
Speaker 1: but at least something that would be solid gets you

812
00:38:27,120 --> 00:38:28,879
Speaker 1: from place to place. And it seems like that's harder

813
00:38:28,920 --> 00:38:31,000
Speaker 1: than ever to do. You're talking about for like a

814
00:38:31,160 --> 00:38:33,600
Speaker 1: solid used car for a lot of people, we're talking

815
00:38:33,640 --> 00:38:36,440
Speaker 1: about spending five figures, like ten grand, but it doesn't

816
00:38:36,480 --> 00:38:38,520
Speaker 1: have to be thirty forty fifty thousand dollars. I think

817
00:38:38,520 --> 00:38:40,520
Speaker 1: that's what a lot of people will have led themselves

818
00:38:40,560 --> 00:38:42,960
Speaker 1: to believe. If you look at the Consumer Reports reliability

819
00:38:43,040 --> 00:38:47,799
Speaker 1: ratings and you angle towards those cars that are lower

820
00:38:47,920 --> 00:38:51,120
Speaker 1: mileage like ten, twelve, fifteen years old, you can still

821
00:38:51,160 --> 00:38:55,759
Speaker 1: find something I think that is reasonably priced that will

822
00:38:55,840 --> 00:38:57,719
Speaker 1: last you for a long time, and it won't be

823
00:38:57,920 --> 00:39:01,120
Speaker 1: like in the shop regularly agree Honda fit right, that's

824
00:39:01,200 --> 00:39:04,920
Speaker 1: like the that's Consumer Reports car of choice essentially.

825
00:39:05,680 --> 00:39:08,480
Speaker 2: So if you like Aly, ain't super fancy, yeah, but

826
00:39:08,640 --> 00:39:09,719
Speaker 2: it'll it'll get it done.

827
00:39:09,760 --> 00:39:11,960
Speaker 1: But if you want a budget car that won't cost much,

828
00:39:12,040 --> 00:39:14,040
Speaker 1: but it'll get you where you need to go. Uh,

829
00:39:14,239 --> 00:39:17,200
Speaker 1: then that's one of the ones to definitely consider. Heck, yeah,

830
00:39:17,360 --> 00:39:18,840
Speaker 1: all right, it's gonna do it. For this episode, we

831
00:39:18,920 --> 00:39:21,680
Speaker 1: will put links to some of the stories we mentioned

832
00:39:21,760 --> 00:39:23,960
Speaker 1: up in the show notes on our website at how

833
00:39:24,080 --> 00:39:25,239
Speaker 1: too money dot com.

834
00:39:25,520 --> 00:39:28,000
Speaker 2: That's right. We hope everyone has a fantastic weekend and

835
00:39:28,080 --> 00:39:30,000
Speaker 2: we will see you back here on Monday. So until

836
00:39:30,080 --> 00:39:32,919
Speaker 2: next time, best friends out, Best Friends Out.