WEBVTT - Friday Flight - Underwater Autos, Freelancing FTW, & E-Fund Idiocy #1044 0:00:00.080 --> 0:00:02.920 Welcome to How to Money. I'm Joel, I am Matt, 0:00:03.000 --> 0:00:07.360 and today we're talking about underwater autos, freelancing for the win, 0:00:07.800 --> 0:00:35.840 and E fund idiocy. 0:00:28.440 --> 0:00:29.920 E fund idiocy. 0:00:30.280 --> 0:00:33.120 That will most likely be our ludicrous headline of the 0:00:33.120 --> 0:00:34.040 week that we'll get to today. 0:00:34.120 --> 0:00:37.160 Joel, We're gonna take some other financial influencer to task 0:00:37.640 --> 0:00:38.120 on that one. 0:00:38.240 --> 0:00:41.400 Indeed, Oh, we don't have anything here about the government shutdown. 0:00:41.400 --> 0:00:43.519 Maybe we should say something about that. How at least 0:00:43.520 --> 0:00:45.000 at the time of this recording, we are, I guess 0:00:45.080 --> 0:00:48.639 on day three of the government shut down. Toilets are 0:00:48.680 --> 0:00:52.519 perhaps overflowing in national parks a terrible site to or 0:00:52.720 --> 0:00:55.760 the toilets are closed completely. I went by our National 0:00:55.800 --> 0:00:58.000 Battlefield Park the other day to go for a run. 0:00:58.080 --> 0:01:02.240 Do they mark the doors were closed? Nobody at home. 0:01:02.640 --> 0:01:05.720 I had to pee, so said to go on, I 0:01:05.720 --> 0:01:08.479 should have go on the trail like I mean, don't 0:01:08.480 --> 0:01:10.319 don't wrap me up. You should be doing that anyway, right, 0:01:10.440 --> 0:01:11.680 you come on, you're out like out there in the 0:01:11.720 --> 0:01:13.320 middle of the woods. It's not like you're at some 0:01:13.440 --> 0:01:15.960 highly congested You've got to do it very popular. You 0:01:16.040 --> 0:01:17.479 got to do it in an unpopulated spot. 0:01:17.520 --> 0:01:18.200 Do what you gotta do. 0:01:18.400 --> 0:01:20.320 Yeah, but I can't imagine this is going to stretch 0:01:20.319 --> 0:01:21.319 on for for. 0:01:21.240 --> 0:01:24.520 All that I hope not. Yeah, we have listeners and 0:01:25.040 --> 0:01:28.520 friends who are are impacted by this, and we're gonna 0:01:28.560 --> 0:01:31.760 talk about emergency funds later on, and I don't just 0:01:31.760 --> 0:01:33.440 makes you take it. Two things you can do about this. 0:01:33.560 --> 0:01:35.199 One is the case for an emergency fund. 0:01:35.360 --> 0:01:39.160 Yeah, yeah, I mean, the more money you have in savings, 0:01:39.240 --> 0:01:44.240 the there's still the psychological impact and the the maybe 0:01:44.400 --> 0:01:47.320 frustration right with the fact that it comes to this, 0:01:47.400 --> 0:01:51.080 and that that the looming government shutdown threat is seems 0:01:51.120 --> 0:01:54.000 like it's perpetually upon us. It's not often we get 0:01:54.200 --> 0:01:57.480 to this point in the process, but sure my heart 0:01:57.520 --> 0:02:00.120 goes out to all you folks out there who are having. 0:02:00.480 --> 0:02:02.840 Folks who are impacted, who are not getting paid, who 0:02:02.880 --> 0:02:05.520 are furloughed and still expected to come to work. 0:02:05.680 --> 0:02:05.960 Yeah. 0:02:06.080 --> 0:02:07.640 You know, I said, I don't think it's going to 0:02:07.640 --> 0:02:09.520 stretch on, but it might because of the fact that 0:02:09.520 --> 0:02:12.280 folks are taking they're using this, you know, they're trying 0:02:12.320 --> 0:02:14.200 to use this as like a political bludgeon. 0:02:15.000 --> 0:02:15.920 It makes me think. 0:02:15.720 --> 0:02:19.280 Of so have you have you heard of the economic problem? 0:02:19.520 --> 0:02:20.960 The chess piece fallacy. 0:02:21.280 --> 0:02:22.320 It basically. 0:02:24.120 --> 0:02:27.079 Adam Smith I think originally, but then Thomas sol popularized it. 0:02:27.120 --> 0:02:29.800 But it talks about how if you're a policymaker, you 0:02:29.840 --> 0:02:31.520 think that like, oh well, we can just try this out, 0:02:31.520 --> 0:02:34.240 we can experiment, maybe we'll end up breaking things and 0:02:34.360 --> 0:02:36.919 we'll learn from that, which I understand when you are 0:02:36.960 --> 0:02:39.760 talking about like, well, in this case, so a chess piece, 0:02:39.960 --> 0:02:42.680 you're essentially the mastermind and you're moving the pieces around 0:02:43.000 --> 0:02:46.359 and you're playing this very elaborate game. But in this case, 0:02:46.360 --> 0:02:48.600 we're not talking about a game with no stakes, like 0:02:48.639 --> 0:02:51.880 we are talking about individuals' lives, like people's livelihoods, and 0:02:51.960 --> 0:02:54.919 that's when people start to revolt. That's when people get 0:02:55.000 --> 0:02:56.160 upset if they have. 0:02:56.240 --> 0:02:59.440 The misrent payment or afford to go on the trip, 0:02:59.480 --> 0:03:02.360 that they even just like putting food on the table. 0:03:02.400 --> 0:03:05.600 It has so it has all these unintended consequences that 0:03:05.880 --> 0:03:09.040 when you discount how it impacts individuals lives, there's a 0:03:09.040 --> 0:03:11.640 problem there essentially. So it also makes me think about 0:03:11.639 --> 0:03:14.560 like when when Elon came in and bought bought Twitter 0:03:15.040 --> 0:03:18.040 slash the workforce broke code and like that is a 0:03:18.160 --> 0:03:20.760 very maybe it shouldn't be a chess piece fallacy. It 0:03:20.760 --> 0:03:24.000 should be like a programmer fallacy, because that's how programmers think. 0:03:24.320 --> 0:03:26.919 That's what I've been told. I'm not a program myself. 0:03:27.080 --> 0:03:29.160 But you go in, you break things, you try things out, 0:03:29.200 --> 0:03:30.800 and then you just put it back to get it 0:03:30.800 --> 0:03:32.880 back to working. But you can't necessarily. It's a lot 0:03:32.919 --> 0:03:36.400 hard to do that with individuals lives again, when people 0:03:36.440 --> 0:03:39.920 are being impacted in a significant way for some individuals 0:03:40.080 --> 0:03:40.400 out there. 0:03:40.480 --> 0:03:43.080 Agreed, All right, Vosh, we'll get to the Friday flight. 0:03:43.160 --> 0:03:45.640 Let's let's do it. Sampling of stories we found interesting 0:03:45.680 --> 0:03:49.880 this week. Let's start off talking about streaming. Streaming price 0:03:49.960 --> 0:03:52.600 hikes are of course coming down the pike with regularity. 0:03:52.640 --> 0:03:52.760 Now. 0:03:52.800 --> 0:03:55.680 I think Apple TV Plus is that what they call theirs, Matt. 0:03:55.680 --> 0:03:57.160 I think they've had a price hike every year for 0:03:57.160 --> 0:03:59.960 the last three years, which is interesting because I don't 0:04:00.280 --> 0:04:02.280 feel like they've got a lot of stuff for you 0:04:02.320 --> 0:04:04.200 to watch on it, like they've got the best stuff? 0:04:04.320 --> 0:04:05.320 Do they? Severance? 0:04:05.800 --> 0:04:08.200 Okay, Severance was one. I still haven't seen that one. 0:04:08.200 --> 0:04:10.080 You've told me it's so good, it's so good. It 0:04:10.120 --> 0:04:13.440 just feels like they have so little uh for you 0:04:13.520 --> 0:04:14.120 to interest me. 0:04:14.280 --> 0:04:16.640 But if it really counts the stuff that they do 0:04:16.720 --> 0:04:18.120 put out there and does is that enough to win 0:04:18.160 --> 0:04:18.400 you over? 0:04:18.480 --> 0:04:20.000 Yeah, that's what That's why I feel like HBO has 0:04:20.000 --> 0:04:22.839 been so good at is Yes, exactly. 0:04:22.880 --> 0:04:24.760 I think that's the model that Apple's trying to trying 0:04:24.760 --> 0:04:27.160 to go with, although I will say at the end 0:04:27.160 --> 0:04:29.760 of the last season it does lead some questions where 0:04:29.760 --> 0:04:32.240 you're just like, oh, come on, I don't want to 0:04:32.520 --> 0:04:33.320 put any spoilers. One. 0:04:33.360 --> 0:04:35.679 I'm guessing where they go, and I'm guessing you've canceled 0:04:35.720 --> 0:04:37.320 Apple TV Plus at this point because you're done with 0:04:37.320 --> 0:04:40.040 severance and you'll sign up again later. Of course, So 0:04:40.440 --> 0:04:43.080 the the cheap prices of early streaming days, they're just 0:04:43.080 --> 0:04:44.920 in the rear view mirror completely at this point right 0:04:44.960 --> 0:04:45.240 where you. 0:04:45.240 --> 0:04:47.760 Can just keep it around even when the season's over. 0:04:48.120 --> 0:04:51.440 You can, but like you way more than you need to. 0:04:51.640 --> 0:04:54.520 And so Disney just notified subscribers that they're going to 0:04:54.560 --> 0:04:57.080 be ramping up the prices of Disney Plus Hulu plans, 0:04:57.520 --> 0:04:59.960 and uh, the price acts are just going to keep coming. 0:05:00.160 --> 0:05:02.880 Why are they going to keep coming? Well, it's because 0:05:03.000 --> 0:05:06.440 consumers aren't really changing their habits. They're not canceling in 0:05:06.480 --> 0:05:10.240 the numbers that are impacting the streaming services to a 0:05:10.279 --> 0:05:13.880 meaningful degree. There's this new credit Karma survey and it 0:05:14.000 --> 0:05:17.080 found that streaming is at the very top of non 0:05:17.160 --> 0:05:20.680 essential priorities in people's budgets in their lives. So it's 0:05:20.720 --> 0:05:24.640 this really sticky service that people aren't willing to do without. 0:05:25.040 --> 0:05:28.280 The streaming companies know this, and they're taking full advantage. 0:05:28.440 --> 0:05:31.320 So I know that price hex can be frustrating. People 0:05:31.360 --> 0:05:34.640 get that email and they're like, again, really, you're going 0:05:34.640 --> 0:05:38.400 to up the price and you haven't really added much 0:05:38.400 --> 0:05:41.359 more good stuff for me to check out, So but 0:05:41.440 --> 0:05:43.440 I don't know, they just stay with it anyway. People 0:05:43.440 --> 0:05:46.000 take this lying down it seems. I think there are 0:05:46.480 --> 0:05:48.799 some pros and cons of being out of the cable 0:05:48.800 --> 0:05:51.600 TV era. The early streaming days, though Matt, seemed to 0:05:51.640 --> 0:05:54.080 be the best of times, and now we're entering this 0:05:54.720 --> 0:05:57.440 period of time where streaming is more competitive, just as 0:05:57.480 --> 0:06:00.800 bad as cable in so many ways. The only way 0:06:00.960 --> 0:06:05.159 we as individuals can get the best get the most 0:06:05.160 --> 0:06:07.159 bang for our buck is to I think, sign up 0:06:07.200 --> 0:06:09.760 for services when we're going to use them, cancel when 0:06:09.800 --> 0:06:12.800 we're not, and just be more thoughtful in general about 0:06:12.880 --> 0:06:14.440 what we're subscribing to and when. 0:06:14.400 --> 0:06:17.600 Totally yes, And actually I just said that it's more competitive, 0:06:17.640 --> 0:06:20.320 it's actually less competitive because when it was more competitive, 0:06:20.360 --> 0:06:22.640 when Netflix was the big player on the scene when 0:06:22.680 --> 0:06:24.400 they do you remember back when they won their first 0:06:25.200 --> 0:06:27.200 Emmy or Golden Globe or I don't know, it was 0:06:27.240 --> 0:06:29.760 just a massive deal, like they swept the awards that year. 0:06:30.040 --> 0:06:32.920 It's like, oh, wow, they are a legitimate studio. 0:06:32.960 --> 0:06:33.720 They're on the scene. 0:06:33.839 --> 0:06:36.160 Yes, yeah, And so back in those days when there 0:06:36.240 --> 0:06:39.000 was more competition, I think all of these streamers, well 0:06:39.040 --> 0:06:41.000 they were willing to offer their services for a lot 0:06:41.080 --> 0:06:42.760 less as they're trying to gobble up market share. But 0:06:42.839 --> 0:06:45.400 it's less competitive now and they're all kind of sitting back, 0:06:45.600 --> 0:06:48.000 they're getting comfortable. They're trying to increase that profit share, 0:06:48.440 --> 0:06:50.040 increase those margins. 0:06:50.080 --> 0:06:51.279 But yeah, I think. 0:06:51.520 --> 0:06:54.960 So we just canceled Disney Disney Plus, which is was 0:06:55.040 --> 0:06:56.800 kind of a mainstay for us because we wanted to 0:06:56.800 --> 0:06:59.200 watch something on Netflix, and so I was what I said, 0:06:59.279 --> 0:07:01.479 was like, Hey, what we're going to do here, We're 0:07:01.480 --> 0:07:04.720 going to implement the classic one in, one out, Like though, 0:07:04.760 --> 0:07:06.560 if you're trying to manage your closet, like manage your 0:07:06.640 --> 0:07:10.000 wardrobe instead of just letting them proliferate. Yeah, well, so 0:07:10.360 --> 0:07:12.480 you kind of have to do that with your closet, 0:07:12.560 --> 0:07:14.880 right because you are literally going to run out of space. 0:07:15.080 --> 0:07:17.720 I think that's one of the one of the benefits 0:07:17.760 --> 0:07:20.360 of doing that, not just letting it get get so overcrowded. 0:07:20.400 --> 0:07:22.800 But when it comes to these digital streaming services, these 0:07:22.840 --> 0:07:24.840 digital products, what is it cluttering up? 0:07:24.960 --> 0:07:28.280 Yeah? Nothing, you just continue to yes. 0:07:28.400 --> 0:07:30.080 Yeah, And so you were just you were out the 0:07:30.120 --> 0:07:32.200 money and you don't realize how many of these that 0:07:32.240 --> 0:07:37.520 you've accumulated. There's no physical, tangible response mechanism that's telling you, oh, 0:07:37.560 --> 0:07:40.280 you have too many of these. Typically, when it comes 0:07:40.320 --> 0:07:43.600 to digital stuff like the more options we have, the better. 0:07:43.960 --> 0:07:46.119 But in this case, uh yeah, I guess you could 0:07:46.320 --> 0:07:48.160 have them all, but it's going to cost you a ton. 0:07:48.360 --> 0:07:51.400 You truly are back into the cable bundling days when 0:07:51.440 --> 0:07:54.680 you were paying for everything. But that's what's so beautiful 0:07:54.720 --> 0:07:57.480 about streaming is that you have the ability to very 0:07:57.520 --> 0:08:00.520 easily drop one of the streamers after a couple that 0:08:00.760 --> 0:08:01.520 once that show's over. 0:08:01.560 --> 0:08:03.760 Well, Peloton just announced in the middle of the week 0:08:03.800 --> 0:08:08.040 as well that they're increasing their prices for folks who 0:08:08.080 --> 0:08:09.480 have a bike and they like to work out on 0:08:09.520 --> 0:08:11.680 it or whatever. And I think I talked recently on 0:08:11.720 --> 0:08:14.200 the show not too long ago about buying a used 0:08:14.200 --> 0:08:18.360 peloton for my wife who likes to jump on it 0:08:18.360 --> 0:08:20.119 and do her thing. You get her spin on. Yeah, 0:08:20.280 --> 0:08:22.040 but they're going from forty five bucks a month to 0:08:22.040 --> 0:08:24.560 fifty bucks a month and five bucks not a biggie, 0:08:24.920 --> 0:08:27.400 that's what Yeah, that's what you say. But like, I'm 0:08:27.440 --> 0:08:28.880 not a frog in the boiling water. At some point, 0:08:28.920 --> 0:08:31.400 we're jumping out, and she was like, she came to 0:08:31.440 --> 0:08:34.720 me before I even said anything, because I'm trying not 0:08:34.840 --> 0:08:37.800 to cause marital strife. And she was like, man, I'm 0:08:37.800 --> 0:08:39.520 so mad that they raised the price. I think I'm 0:08:39.559 --> 0:08:41.000 going to cancel for a while. And I was like, 0:08:41.559 --> 0:08:43.600 because she's like, I'm never using it. She's a member 0:08:43.640 --> 0:08:45.760 of another gym as well, and it's like the price 0:08:45.800 --> 0:08:47.440 per use just went up. I'm not using it as 0:08:47.480 --> 0:08:50.120 much as i'd like to. So they all hop on 0:08:50.360 --> 0:08:52.840 still use it but not pay for the service. I'm like, 0:08:52.920 --> 0:08:55.080 all right, fine with me. So what's the benefit of 0:08:55.120 --> 0:08:57.079 the service. The fact that you've got like the screen 0:08:57.200 --> 0:08:59.400 and you got somebody encouraging you. That's music playing the 0:08:59.400 --> 0:09:01.520 actual class and the metrics and all that stuff. 0:09:01.559 --> 0:09:04.960 There's got to be some online free YouTube channels that 0:09:05.040 --> 0:09:07.440 you can pull up where you're listening to this very 0:09:07.480 --> 0:09:09.880 similar kind of deal having to pay for. 0:09:09.800 --> 0:09:12.280 It, right, Well, yeah, there's ads. Yeah. And then like 0:09:12.720 --> 0:09:15.120 there was a we were doing some of the stretching 0:09:15.200 --> 0:09:18.199 classes the peloton, but I was like, I've got some 0:09:18.240 --> 0:09:21.400 great YouTube videos that are one hundred percent free. You 0:09:21.679 --> 0:09:23.520 don't need I mean, they're not live classes even they're 0:09:23.520 --> 0:09:25.040 like pre recorded. We were just doing the same one 0:09:25.080 --> 0:09:25.720 over and over. Yeah. 0:09:25.720 --> 0:09:26.280 Well that's the thing. 0:09:26.440 --> 0:09:28.360 Like, now you've learned how to do it and you've 0:09:28.400 --> 0:09:31.000 internalized it, you don't need someone to guide you through 0:09:31.040 --> 0:09:35.920 that anymore. Like you are your own stretching Shirpa. Let's 0:09:35.920 --> 0:09:39.200 talk about owning a vehicle, because trading in a car 0:09:39.240 --> 0:09:41.680 it's fraught with so much financial peril. First of all, 0:09:42.040 --> 0:09:44.640 when you trade in instead of selling that car outright 0:09:44.640 --> 0:09:47.679 to an individual, you risk getting a lot less than 0:09:47.679 --> 0:09:50.680 it's worth listing it yourself. Putting in a bit more, 0:09:51.360 --> 0:09:55.120 a little bit more effort, taking the pictures, scheduling the meetups, 0:09:55.360 --> 0:09:58.120 it could net you thousands of additional dollars. 0:09:57.800 --> 0:10:00.400 Doing the hassle thing. It's worth it. It takes a 0:10:00.440 --> 0:10:01.000 little more work. 0:10:01.040 --> 0:10:03.640 But one of the worst financial moves though, that you 0:10:03.640 --> 0:10:06.800 can make is to upgrade your ride and then trade 0:10:06.840 --> 0:10:09.880 in a car that you are underwater on. But Americans 0:10:09.920 --> 0:10:12.000 are doing it like it's their job. More than a 0:10:12.160 --> 0:10:15.200 quarter of trade ins today are being done by folks 0:10:15.200 --> 0:10:18.720 with negative equity who owe more on that car than 0:10:18.760 --> 0:10:23.000 it's actually worth, often by like many thousands of dollars, 0:10:23.040 --> 0:10:24.959 which is man, that's very frightening. 0:10:25.000 --> 0:10:28.640 I think the average underwater amount is over six thousand dollars. 0:10:29.080 --> 0:10:29.760 That's a lot of money. 0:10:29.800 --> 0:10:29.920 Man. 0:10:29.960 --> 0:10:31.640 I was talking to somebody this week and they had 0:10:31.640 --> 0:10:33.640 a friend who traded in a car that was like 0:10:33.720 --> 0:10:37.440 thirty grand underwater, which that's insane. Punch me in the face. 0:10:37.440 --> 0:10:39.320 It's all your stuff like that. It makes me so sad. 0:10:39.400 --> 0:10:42.240 It also isn't all that surprising given the price of vehicles, right, Like, 0:10:42.280 --> 0:10:44.960 you buy a brand new eighty thousand dollars nice you know, 0:10:45.360 --> 0:10:48.720 luxury suv, it's probably not going to take that long 0:10:48.920 --> 0:10:51.520 for you. If you have these payments that are stretched 0:10:51.559 --> 0:10:54.199 out in two three years. Like there's a very good 0:10:54.280 --> 0:10:55.640 chance that you're going to owe more on that. 0:10:55.640 --> 0:10:57.760 Thing, yeah, than what it's actually worth. You're exactly right, 0:10:57.880 --> 0:10:59.600 it's the cost of the car. But it's also, like 0:10:59.640 --> 0:11:02.560 you just the length of the car loan itself, and 0:11:02.640 --> 0:11:05.440 so you are making such a small dent in those 0:11:05.440 --> 0:11:09.000 first couple of years on the actual I mean, you're 0:11:09.000 --> 0:11:11.839 paying down the principle, but because you've stretched it out 0:11:11.840 --> 0:11:14.120 from like let's say forty eight months four years to 0:11:14.200 --> 0:11:17.079 something like eighty four months, it's just taking so much longer. 0:11:17.120 --> 0:11:19.680 And if in three years time you get tired of 0:11:19.760 --> 0:11:21.760 that car and you're like, oh, it's not for me 0:11:21.800 --> 0:11:24.720 to upgrade, well, you've paid so much less of that car, 0:11:24.800 --> 0:11:27.920 and so you are of course going to have negative equity, 0:11:28.160 --> 0:11:30.400 and then you roll it into the next loan and 0:11:30.440 --> 0:11:32.720 you've got a giant loan. You're way upside down on 0:11:32.760 --> 0:11:36.079 the next car, only compounding the problem making it worse. 0:11:36.120 --> 0:11:38.800 So yeah, personally, I'm going to say no car loan, 0:11:38.840 --> 0:11:40.520 but I know some folks are. They're not in the 0:11:40.600 --> 0:11:42.520 situation to where they've got the money on you, right, 0:11:42.520 --> 0:11:43.319 I should be able to cover that. 0:11:43.360 --> 0:11:44.839 You and I were typically fans of that right only 0:11:44.920 --> 0:11:47.000 buy a car if you have the cash or save 0:11:47.120 --> 0:11:49.920 up longer. And if you don't agree with us or yeah, 0:11:49.960 --> 0:11:52.480 you are in that position, just make sure you don't 0:11:52.520 --> 0:11:54.680 take out a loan that's longer than forty eight months 0:11:54.760 --> 0:11:59.280 ideally forty two or less. Cause yeah, like driving a 0:11:59.320 --> 0:12:01.360 car with negative equity, it's not ideal, but it's not 0:12:01.400 --> 0:12:02.640 the worst thing in the world as long as you 0:12:02.679 --> 0:12:05.640 can hold on to it. If you really want to 0:12:05.720 --> 0:12:09.160 upgrade your ride, but you just aren't in the financial 0:12:09.200 --> 0:12:12.480 position to do that, truly, wait longer. That is the 0:12:12.520 --> 0:12:15.560 solution here. And by the way, matt I See Cars 0:12:15.600 --> 0:12:18.439 released its list of the vehicles that are most likely 0:12:18.480 --> 0:12:21.280 to last two hundred and fifty thousand miles. That's not 0:12:21.280 --> 0:12:23.160 sure that most people want to go there, I do. 0:12:23.400 --> 0:12:25.080 I'm probably not doing that with both the cars that 0:12:25.080 --> 0:12:28.280 we currently own. I'm getting so close to two hundred 0:12:28.320 --> 0:12:30.920 k with the with the Honda, Yeah, I work, you're 0:12:30.960 --> 0:12:33.560 beyond us. I think we're at like one eighty and 0:12:33.640 --> 0:12:36.800 my other cars like one seventy one, but we're like 0:12:36.800 --> 0:12:37.960 one ninety two. Yeah. 0:12:38.120 --> 0:12:40.280 Hey, like I don't want to put the miles on, 0:12:40.360 --> 0:12:42.280 but every time it gets closer, it just it makes 0:12:42.320 --> 0:12:45.320 me so happy, it's inevitable, it's gonna happen. Okay, But 0:12:45.400 --> 0:12:47.880 you know, you know the brand that was number one 0:12:47.920 --> 0:12:50.480 on that list, it's oh yeah, yea. You don't even 0:12:50.559 --> 0:12:52.200 have to like read it like a long shot. 0:12:52.360 --> 0:12:54.920 Yeah, yeah. This is like they said that Toyotas are 0:12:54.960 --> 0:12:58.839 what three point seven times more likely to last two 0:12:58.880 --> 0:13:03.320 hundred fifty thousand miles than any other car manufacturer. Lexis 0:13:03.360 --> 0:13:04.680 and Honda were right up there too, but it's like 0:13:04.679 --> 0:13:07.080 Toyota's were like by a long shot, crushing. Yeah. 0:13:07.120 --> 0:13:10.320 Basically, Toyota, Toyota, and Lexis are like one and two 0:13:10.400 --> 0:13:13.240 then Handa and makes yeah, and Hannah makes accurate, So 0:13:13.280 --> 0:13:16.400 they're basically first, Toyota's first, Hanna's second. You know what 0:13:16.440 --> 0:13:18.840 I thought was so fascinating that was basically next on 0:13:18.880 --> 0:13:22.720 the list Tesla, which got me thinking, like, it makes 0:13:22.720 --> 0:13:25.360 so much sense given the fact that there are so 0:13:25.559 --> 0:13:27.959 many fewer moving parts. It would not surprise me if 0:13:27.960 --> 0:13:31.160 over the years we see the share of Tesla's that 0:13:31.200 --> 0:13:33.600 are on the road, that you are able to keep 0:13:33.640 --> 0:13:35.880 those around for much longer periods of time because of 0:13:35.920 --> 0:13:38.000 the fact that it's just an electric An electric motor 0:13:38.080 --> 0:13:43.680 is a very efficient durable like mechanical device, and yeah, 0:13:43.720 --> 0:13:46.040 it makes all the makes all the sense in the world. 0:13:46.400 --> 0:13:48.120 I thought it was very humorous to see that the 0:13:48.200 --> 0:13:52.079 cars that had a zero percent chance two hundred and 0:13:52.080 --> 0:13:56.840 fifty k. It's not surprising. It was like Jaguar Mini Cooper, 0:13:57.280 --> 0:13:59.319 which that one actually kind of surprised me. I thought 0:13:59.400 --> 0:14:01.880 menis were a little more. They just seem to have 0:14:01.920 --> 0:14:02.720 such a fan base. 0:14:02.920 --> 0:14:05.040 Yeah, you know, but I don't think it's because they're reliable. 0:14:05.080 --> 0:14:05.920 I guess not. Yeah. 0:14:06.000 --> 0:14:09.800 And when I say Jaguar Mini and like Maserati or 0:14:09.800 --> 0:14:11.880 something like that, okay, yeah, which you've got a couple 0:14:11.880 --> 0:14:12.200 of those. 0:14:12.120 --> 0:14:13.040 Yeah, yeah, a few of those. 0:14:13.400 --> 0:14:15.160 I know, Hey, I'm only going to hit fifty thousand 0:14:15.160 --> 0:14:16.360 on those bad right exactly. 0:14:17.440 --> 0:14:19.480 So I guess when it comes down to it, that's 0:14:19.640 --> 0:14:22.040 one of the key ingredients too, in being able to 0:14:22.040 --> 0:14:24.320 hold onto your car longer is to get something that's reliable. 0:14:24.440 --> 0:14:27.040 And you can go in to consumer reports and you 0:14:27.040 --> 0:14:28.840 can dig in and see what makes and models in 0:14:28.920 --> 0:14:32.400 years have like the highest reliability ratings, or you can 0:14:32.480 --> 0:14:35.240 even just take this generic ICEE car survey and be like, 0:14:35.280 --> 0:14:36.720 I guess I'm getting a Toyota Rohanda. 0:14:36.840 --> 0:14:40.840 Yeah, car reliability matters, dude. Let's talk about car insurance. 0:14:41.200 --> 0:14:43.520 So we obviously talk a lot about saving money, but 0:14:43.600 --> 0:14:46.640 getting the lowest possible price, it's not always the goal. 0:14:47.280 --> 0:14:50.520 We talk about frugal versus cheap moves when it comes 0:14:50.520 --> 0:14:53.240 to car insurance. We want to get value for the 0:14:53.240 --> 0:14:56.280 money that we're paying, and that is particularly true here. 0:14:56.640 --> 0:14:59.400 It doesn't matter how much you save on premiums if 0:14:59.440 --> 0:15:03.680 your insurance company actually won't pay your claim, or if 0:15:03.680 --> 0:15:05.960 they're impossible to deal with, if you can't get them 0:15:05.960 --> 0:15:09.120 to respond to any calls consumer reports. They released a 0:15:09.120 --> 0:15:12.000 list of insurance companies who have the best record of 0:15:12.040 --> 0:15:16.520 paying claims and two the were ones that we've talked 0:15:16.560 --> 0:15:20.120 about on the show before. Amika USAA. There's a new 0:15:20.120 --> 0:15:23.760 one that I never heard before. Erie er I E yeah, 0:15:23.800 --> 0:15:27.320 and evidently they are pretty tops as well. Only downside, 0:15:27.360 --> 0:15:29.920 they're only in like ten states in the country. But 0:15:30.080 --> 0:15:33.040 if you have access to Erie, check them out, but 0:15:33.320 --> 0:15:37.360 otherwise shop around get quotes, but specifically from these insurance 0:15:37.400 --> 0:15:39.000 companies that tend to rate more highly. 0:15:39.120 --> 0:15:41.400 This is like an interesting one because you and I 0:15:41.440 --> 0:15:44.520 we talked about shopping on insurance to save money, and 0:15:45.320 --> 0:15:46.800 we think there's a lot of wisdom to that, but 0:15:46.840 --> 0:15:49.160 you just have to be careful because there are kind 0:15:49.160 --> 0:15:51.920 of like fly by night insurance companies, and then there 0:15:51.960 --> 0:15:55.240 are also It's kind of like we answered a question 0:15:55.840 --> 0:15:58.960 recently about renting from one of those super cheap car 0:15:59.000 --> 0:16:01.240 rental companies, you po car and you have to be 0:16:01.280 --> 0:16:04.200 careful in that, and the same thing is true with 0:16:05.080 --> 0:16:08.480 getting that insurance. It's like, it's best to get that 0:16:08.960 --> 0:16:12.800 policy from a company who's reliably pays out claims. That's 0:16:12.960 --> 0:16:14.800 kind of what Consumer Reports was getting out here. They 0:16:14.840 --> 0:16:18.320 rank them in order, and it's worth taking a look 0:16:18.320 --> 0:16:22.160 and seeing where your insurance company falls because you might 0:16:22.480 --> 0:16:23.880 you might be like, yeah, they're saving me a little 0:16:23.880 --> 0:16:25.880 bit of money, but if I do get into a 0:16:25.880 --> 0:16:27.800 situation where I have to file a claim, they're going 0:16:27.880 --> 0:16:30.160 to like put me through the ringer and that'll be 0:16:30.200 --> 0:16:31.000 super frustrating. 0:16:31.080 --> 0:16:33.840 Yep, car insurance seems like an industry a market that 0:16:33.880 --> 0:16:37.600 needs disrupting. Let's talk about jobs, because the market's been 0:16:37.640 --> 0:16:40.920 getting worse and worse sadly. But we've got one piece 0:16:40.920 --> 0:16:43.200 of advice that might help folks out there who might 0:16:43.320 --> 0:16:46.000 be looking for another job or you know, like whether 0:16:46.040 --> 0:16:47.560 you are out of work or maybe you're you're still 0:16:47.600 --> 0:16:49.760 employed and you're looking for a new job. And that 0:16:50.000 --> 0:16:53.360 is that freelance and contract positions might make more sense 0:16:53.680 --> 0:16:57.680 than a traditional W two full time employ like employment 0:16:57.800 --> 0:17:00.560 job that you might be used to. And this is 0:17:00.640 --> 0:17:03.680 for a number of reasons. First of all, it might 0:17:03.720 --> 0:17:07.000 be easier to get in the door hiring someone on 0:17:07.040 --> 0:17:10.119 a contract basis. It can be easier for employers. I 0:17:10.119 --> 0:17:12.840 think this is especially true given the uncertainty that businesses 0:17:12.880 --> 0:17:15.159 have seen with Terris right, Like, that's one of the 0:17:15.200 --> 0:17:17.960 downsides is when you don't if you can't look ahead 0:17:18.000 --> 0:17:21.000 to the future and forecast what the industry is going 0:17:21.040 --> 0:17:23.440 to look like, you're less prone to make investments in 0:17:23.480 --> 0:17:26.320 your business, which one of the biggest investments you can 0:17:26.320 --> 0:17:27.240 make is human capital. 0:17:28.200 --> 0:17:30.840 Of those employers are saying, hey, we need to hire somebody. 0:17:30.880 --> 0:17:32.840 We're not off from the full time furlough on new 0:17:32.920 --> 0:17:36.240 hires a contract position because it's just it's a less 0:17:36.680 --> 0:17:37.800 embedded relationship. 0:17:37.880 --> 0:17:41.200 Yeah, so I totally get it from the employer's standpoint, 0:17:41.200 --> 0:17:44.159 but as an employee, for you out there looking to 0:17:44.280 --> 0:17:47.200 get a new job, it can often lead to that 0:17:47.320 --> 0:17:50.080 full time job, that full time work there in the future, 0:17:50.119 --> 0:17:52.840