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Speaker 1: Welcome to How the Money. I'm Joel, I'm Matt. Today

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Speaker 1: we're talking about the lipstick effect, cheap Chinese evs, and

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Speaker 1: DIY solar.

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Speaker 2: You know what, buddy, Hey, this is episode ten ninety eight,

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Speaker 2: which is a nice little reminder out there to make

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Speaker 2: sure you're gathering your team ten ninety eight's in order

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Speaker 2: to submit for a mortgage interest. Yeah, that's a good one.

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Speaker 2: This is a tax return update, Joel.

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Speaker 1: In the past week. It was the last Friday we

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Speaker 1: talked about how you haven't started yet, still gathering. You

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Speaker 1: can see some documents actually sitting on my desk over

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Speaker 1: there underneath my sunflower seats. Wait, why do you have

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Speaker 1: physical documents? Some people mail you documents, they're all you

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Speaker 1: can get them all digitally now, Yeah, but I don't know.

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Speaker 1: I got my wife's ten ninety nine in the mail

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Speaker 1: and stuff like that, Like that's a digital I guess

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Speaker 1: not SIRL school like that. Oh no, they need to

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Speaker 1: get with the times, man, I know, okay, maybe, but

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Speaker 1: I have some physical ones. Most of them are stored

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Speaker 1: digitally on in a folder on my computer. But I

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Speaker 1: get some physical ones I need to pick pictures of

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Speaker 1: and upload.

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Speaker 2: To snap a little photo, make it happen, get after it.

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Speaker 2: But uh yeah, this is our Friday flight where we're

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Speaker 2: going to talk about the stories that we came across

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Speaker 2: from this past week, specifically how they pertain to your

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Speaker 2: personal finances. Normally, we a lot of times we like

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Speaker 2: to start off with a quick tip. This is like

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Speaker 2: an anti tip. This is a warning. I saw that

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Speaker 2: mister Beasts is launching the new meme coin Joel, and

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Speaker 2: he's looking to promote it during the upcoming Super Bowl.

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Speaker 1: Say it ain't so, Jimmy.

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Speaker 2: It's like we didn't learn anything from a few What

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Speaker 2: is it twenty twenty two? I know, remember the Larry

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Speaker 2: David commercial. Yes, and Matt Damon. Fortune favors the Brave,

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Speaker 2: the height of crypto and sanity. Fortune favors mister Beasts.

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Speaker 2: We'll see how well he does.

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Speaker 1: It's finishing to see crypto prices dropping dramatically, right, So

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Speaker 1: if you're a.

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Speaker 2: Big coin believe is it twenty twenty two again? Actually

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Speaker 2: it is if you are a holder of bitcoin. Crypto

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Speaker 2: Winter number two is upon us. But yeah, I just

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Speaker 2: like the fact that he's going to that he created

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Speaker 2: this this meme coin, and then he's going to pump

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Speaker 2: it during the Super Bowl just yet it feels like

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Speaker 2: echoes from uh a time that's not too far in

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Speaker 2: the past, and I think people are going to be tempted.

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Speaker 2: It's a very speculative endeavor, right, all these meme coins,

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Speaker 2: the same with the Trump coin and the Millennia coin,

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Speaker 2: and like the hundreds or thousands of is there a

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Speaker 2: baron corpse?

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Speaker 1: Not that I know there should be, but I think

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Speaker 1: trump points down like ninety percent from its top and

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Speaker 1: Millennia coins down ninety eight percent from the top is dumb.

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Speaker 1: A few insiders are gonna make a lot of money,

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Speaker 1: and my guess is like mister Beast himself is going

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Speaker 1: to make some money on this at the expense of

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Speaker 1: his followers.

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Speaker 2: That's the thing I don't get it, Like, like, do

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Speaker 2: you do you think the like has he put enough

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Speaker 2: good enough entertainment out there in the world.

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Speaker 1: It's one thing, I guess.

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Speaker 2: Do you feel a little more w shwarm me if

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Speaker 2: you kind of come in and immediately try to pump

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Speaker 2: and dump as opposed to like, oh, I've been doing

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Speaker 2: this thing for a while.

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Speaker 1: I'm providing value out in the world.

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Speaker 2: Maybe you can internally justify it, but ultimately, like, we're

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Speaker 2: not here to say you shouldn't own any cryptocurrency at all,

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Speaker 2: but you don't own it because of the fact that

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Speaker 2: it's been marketed, especially via some sort of spectacle that

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Speaker 2: might arise during the Super Bowl.

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Speaker 1: And there's a chance, right that he mentioned that in

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Speaker 1: that ad, and a lot of sheep go and buy

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Speaker 1: the meme coin real quick and the price jumps up.

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Speaker 1: And if you were in on the ground floor and

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Speaker 1: you sell at the right time, you might be able

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Speaker 1: to do okay. But really it's an insider play, and

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Speaker 1: you know, mister Beasts and his buddies I think are

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Speaker 1: probably going to make good money on this, and then

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Speaker 1: most people sitting on their couch watching the commercials are

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Speaker 1: going to get screwed in the process. Totally agree.

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Speaker 2: Man, Yeah, you at least you want to talk about spending,

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Speaker 2: you want to talk about high prices.

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Speaker 1: Let's do it, all right. So a recent Economist article

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Speaker 1: highlighted a boom essentially in the beauty space. Matt, your

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Speaker 1: skin's looking great. I'm guessing your skincare regiment is on fleek. Yeah,

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Speaker 1: milicon point. I'm using the terms from ten years ago

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Speaker 1: on purpose. I like to sound old I've got a

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Speaker 1: oil skin, so I actually use a zero product. Okay.

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Speaker 2: It haunted me when I was a middle schooler, but

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Speaker 2: actually it's working out now. Yeah, yeah, thirty years later,

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Speaker 2: it's actually coming around.

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Speaker 1: So dude, gosh, middle school skin, let's not let's not

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Speaker 1: even go back to those days. But beauty spending on

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Speaker 1: like skin, hair, makeup, fragrances, it's it's outpacing retail spending

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Speaker 1: in a big way. Okay, Like I spent a little

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Speaker 1: bit of money on on some fragrance onit, Okay, I

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Speaker 1: don't wear I don't wear fragrances myself. I like to

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Speaker 1: smell decent. You smell great, Yeah I can't. I can't

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Speaker 1: smell you, which is why I'm saying, so if you

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Speaker 1: smell bad, I would know. But it's up something like

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Speaker 1: seven percent year over year each of the past couple

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Speaker 1: of years. And I think, either Matt, we're becoming more

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Speaker 1: beauty obsessed as a society, which I think is probably likely.

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Speaker 1: I think that's true in some ways, or we're falling

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Speaker 1: prey to what's known as the lipstick effect, and it's

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Speaker 1: essentially the fact that like you can feel nice to

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Speaker 1: buy a little splurge when money is tight, why not

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Speaker 1: grab a tiny tube of lipstick that cost nine bucks

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Speaker 1: or and you know it's called the lips effect, but

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Speaker 1: it can obviously translate in other purchases like a Starbucks

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Speaker 1: coffee or something like that, which, yeah, spinning's up at

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Speaker 1: Starbucks as well. They Starbucks start to come.

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Speaker 2: Back reported higher earnings. But yeah, by the way, I

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Speaker 2: don't know when the last time you've been into like

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Speaker 2: a Sephora or something like that. But it's not just like,

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Speaker 2: it's not nine dollars, man, it's like thirty dollars for

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Speaker 2: a small tube for just one lipstick. I don't know

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Speaker 2: about lipstick, but it's my life. Some nail polish.

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Speaker 1: For Christmas, and I want to say two for fourteen.

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Speaker 2: Nail polish is less because it's but like people, I

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Speaker 2: feel like folks are spending less than the nail posh

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Speaker 2: and more on the skin stuff. Yeah, it's like the

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Speaker 2: glow screen ladies know what I'm talking about. Yeah, it's

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Speaker 2: like the red light therapy or the no that's goop.

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Speaker 2: It's like a groop products. Oh okay, Gwyneth Brand, It's

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Speaker 2: like that. It's like the apothecary looking glass vials like

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Speaker 2: the serum's serums whatever.

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Speaker 1: I don't know.

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Speaker 2: I don't even know how to Kate make her own serum.

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Speaker 2: She has in the she's made her own oil in

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Speaker 2: the past. But also again, like at Christmas, you know,

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Speaker 2: that's like a good stocking stuff. All the fellas out

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Speaker 2: there just show up at Sephora and just like buy

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Speaker 2: some of the small little stuff and some eye patches, like

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Speaker 2: some serums.

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Speaker 1: It's like number one. Yeah, say store this tip for

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Speaker 1: next year. Yeah. Oh, my wife does the under eye

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Speaker 1: patches that you that you leave on for like twenty

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Speaker 1: minutes or some in the morning. That's great. She loves that.

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Speaker 1: It's fun.

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Speaker 2: Yeah, They're just what I'm pointing out though, is it.

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Speaker 2: It seems like the nine dollars cheap tube of lipstick

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Speaker 2: feels like that's pre pay.

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Speaker 1: Okay, okay, all right, so I'm not even in to

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Speaker 1: know on how much lipstick costs thirty forty bucks just

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Speaker 1: for a little splurge, he says. I think part of

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Speaker 1: this is also marketing, right, like, uh, celebrities are creating

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Speaker 1: their own lines, and yeah, we're being sold stuff right

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Speaker 1: and left. And if you want to if you want

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Speaker 1: to look like your favorite singer, or influencer, then you

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Speaker 1: gotta buy that line. And of course there's a lot

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Speaker 1: of extra markup on a lot of those products. So

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Speaker 1: I guess it's just it's a good like reminder to

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Speaker 1: check our reasons, check our priors before shelling out even

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Speaker 1: what seems like a relatively small sum, like a treat

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Speaker 1: yourself splurge on twenty dollars lipstick. I guess is what

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Speaker 1: it costs. I don't know. Uh. And just realize too

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Speaker 1: that no skin cream is going to make me look

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Speaker 1: like Brad Pitt, like he looks better than I do,

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Speaker 1: and he's like twenty five years older than I am,

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Speaker 1: And that small purchases still add up, like which which

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Speaker 1: can detract, yeah, from money that we're gonna have for

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Speaker 1: our future, or from money that we can spend in

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Speaker 1: the here and now on our craft beer equivalent. When

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Speaker 1: we're spending in other ways in drips and drabs to

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Speaker 1: try to like bring a little joy into our lives,

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Speaker 1: a little bit of brightness, it can backfire, I get it. Yeah.

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Speaker 2: Another area of spending that appears to be a non

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Speaker 2: negotiable for Americans is spending on travel. So fifty one

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Speaker 2: percent of folks have cut meaningfully in other areas of

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Speaker 2: their lives in order to keep their their travel budget intact.

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Speaker 2: This was according to a USA Today poll, and funny enough,

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Speaker 2: I won't get into the legit or the metrics by

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Speaker 2: which they conducted the pole. They use survey Monkey, which

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Speaker 2: was really funny to me because I'm like, oh, yeah,

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Speaker 2: like the poles I participated in, uh, or if I

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Speaker 2: was going to create one, that's what I would need

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Speaker 2: exactly and be a little yankity, yeah, But I'm just

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Speaker 2: highlighting that unlikely impulse like behavior of the lipstick effect.

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Speaker 2: Young folks seem to be purposefully raining and they're spending

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Speaker 2: in other areas in order to funnel more money towards

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Speaker 2: their travel, which I love to see that sort of

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Speaker 2: in that proactivity. And so after dude, for us like

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Speaker 2: not traveling much at all, our kids are old enough

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Speaker 2: to finally start making travel a bigger part of the budget,

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Speaker 2: which is a ton of fun. But I will say,

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Speaker 2: if things were tight for us personally, travel is one

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Speaker 2: of those areas where we are willing to cut back

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Speaker 2: in order because it's it's such a dis I am

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Speaker 2: looking forward to it. But as I read this, I thought, man,

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Speaker 2: that's so funny because the way we construct our budget,

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Speaker 2: that's one of the things that we are like, oh, yeah.

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Speaker 1: We won't go on the big trip.

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Speaker 2: Oh we won't be taking all six of us to

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Speaker 2: go fly somewhere that costs a whole lot of money.

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Speaker 1: Instead of Paris, France, we going to Paris, Texas or

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Speaker 1: something like that. Right, sure, yeah, Paris Alabama. Does that

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Speaker 1: get even more affordable?

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Speaker 2: But one downside though, is that more folks are considering

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Speaker 2: paying for travel and installments. So, yeah, we're talking about

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Speaker 2: the pay for the buy now, pay later, So we

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Speaker 2: want folks to cut back so you have the cash

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Speaker 2: on hand.

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Speaker 1: To be able to spend.

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Speaker 2: Don't fall into that trap of buy not pay later,

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Speaker 2: or it's a slippery slope and before you know you're

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Speaker 2: you're putting your your lipstick, you're putting your glow screen

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Speaker 2: on buy not pay later as yeah, which we don't.

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Speaker 1: Want to see for real, man. And I saw this too.

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Speaker 1: There's another survey map that said that employees appreciate the

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Speaker 1: gift of travel or time off essentially more than a

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Speaker 1: monetary bonus, and they said it makes them feel more

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Speaker 1: human instead of like a cognitive machine. I got a

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Speaker 1: I got a six thousand dollars bonus at the at

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Speaker 1: the end of the year, at the end of the quarter,

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Speaker 1: like a week off actually would mean more to me.

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Speaker 1: And I think that's probably a younger generation thing as well. Yeah,

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Speaker 1: but it's funny the best of both worlds. I had

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Speaker 1: a boss that would take us on a trip. That's

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Speaker 1: what I was gonna say.

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Speaker 2: It was a travel like that's where it's like a

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Speaker 2: company paid for trip and everybody goes or is it

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Speaker 2: time off?

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Speaker 1: I think it's typically time off to go do your

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Speaker 1: own thing. Okay, but I love this idea too, especially

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Speaker 1: if you like who you work with. That where if

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Speaker 1: more employers would would consider this. How instead of paying

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Speaker 1: more money, sometimes giving it might cost you less as

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Speaker 1: an employer, and it might show more gratuity to to

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Speaker 1: basically give either give some time off or take some

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Speaker 1: sort of fun little trek together. Yeah, as a crew

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Speaker 1: that which totally makes sense. It makes sense to make

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Speaker 1: your employees feel more valuable.

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Speaker 2: Yeah, and it makes sense that resonates more with people, right,

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Speaker 2: because oh it shouldn't be a surprise. I guess that

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Speaker 2: we have more significant great memories of actual lived life

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Speaker 2: as opposed to numbers on a spreadsheet your net worth,

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Speaker 2: and not to say that you can't use the dollars

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Speaker 2: that you receive as a bonus towards some of the

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Speaker 2: things that are meaningful, like a vacation or like a

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Speaker 2: down payment for a house, or like the ability to

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Speaker 2: pay off your student loans. But it just kind of

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Speaker 2: gets absorbed into that machine as opposed to being like, oh, yeah,

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Speaker 2: this is something that was directly from my employer, directly

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Speaker 2: from my manager, my boss, that kind of thing. So yeah,

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Speaker 2: so a second to go, we're talking about higher prices.

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Speaker 2: Let's touch on a good will here for a second,

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Speaker 2: because it's growing like gangbusters right now. They're building more stores.

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Speaker 2: Foot traffic is ticking up, and dude, part of the

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Speaker 2: fun of shopping is the thrill of the hunt, right

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Speaker 2: finding something for far less than you typically have to pay.

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Speaker 1: It's just a good deal, like is yeah, brings joy

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Speaker 1: to your heart sometimes.

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Speaker 2: Yeah, I think shopping secondhand it's always I feel like

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Speaker 2: it comes in ways, like there's periods of time where

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Speaker 2: a lot of people are talking about it, but then

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Speaker 2: I don't know the lived reality of actually shown up

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Speaker 2: in the story.

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Speaker 1: Just like, man, this sucks, but I'm.

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Speaker 2: Here to say that shopping secondhand it's always going to

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Speaker 2: save you a ton as long as I will say.

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Speaker 2: You know what my big pet peeve is at Goodwill

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Speaker 2: is when they overload the shell the racks and if

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Speaker 2: you can't like I'm there to look for a deal,

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Speaker 2: I'm not there to like for a workout where like

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Speaker 2: my shoulders are strained because I'm like trying to shove

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Speaker 2: the racks because they're so they're under their tight in

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Speaker 2: order to reveal the good looking shirt that actually has

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Speaker 2: an embroidered rose on the front of it, which literally

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Speaker 2: happened last time I was that good Will.

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Speaker 1: Did you get no? Because I didn't love that. I

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Speaker 1: was just looking for a nice checked shirt.

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Speaker 2: And yeah, anyway, I wanted to highlight the secondhand option

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Speaker 2: for a lot of folks the area to keep prices

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Speaker 2: down as well.

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Speaker 1: It's just in our local Goodwill this week. And got

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Speaker 1: my daughter needed some boots for play that she's in

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Speaker 1: like coming on next week and like some swash buckland

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Speaker 1: kind of boots. Yeah, like a pirate vibe, Yeah for sure.

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Speaker 1: What's the play, Peter Pan, Oh, no way, funny. So

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Speaker 1: we ride on the money so much cheaper than getting boots,

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Speaker 1: like buying some new boots right that she would probably

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Speaker 1: wouldn't wear outside of the play. So Goodwill rocks and uh,

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Speaker 1: I feel like I've been hitting it up more often,

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Speaker 1: like use sporting goods. Dude. Oh yeah, my son's about

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Speaker 1: to start playing baseball and got a bat and a

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Speaker 1: glove A good Will like that. It's just one of

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Speaker 1: those It's just one of those things I think you

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Speaker 1: have to put in your consciousness again, if you haven't

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Speaker 1: gone in a while, start hitting it. Remember that it's

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Speaker 1: an option.

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Speaker 2: You lose the muscle you're so used to whipping out

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Speaker 2: the phone going to Amazon or.

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Speaker 1: Wherever, Walmart plus shop.

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Speaker 2: Goodwill dot Com is a good option too, Folks need

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Speaker 2: to not forget about that.

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Speaker 1: I kind of the eBay version of Goodwill, Yeah.

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Speaker 2: Which I do spend more of my time going to

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Speaker 2: eBay because of there's just more a higher selection. But

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Speaker 2: I still remember my first jop Goodwill dot Com purchase

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Speaker 2: those Berry topsiders war those for quite a while.

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Speaker 1: Yeah. Well, one more on the shopping used front that

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Speaker 1: if you're looking for something like slightly upgraded from Goodwill

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Speaker 1: is newly in.

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Speaker 2: U U L.

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Speaker 1: Y Emily has like it's like a rental service, but

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Speaker 1: you can actually buy the items that have been pre

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Speaker 1: worn by somebody else on the rental service and own

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Speaker 1: them for a fraction of what they call So like

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Speaker 1: the other day we placed in order for m and

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Speaker 1: the dresses are beautiful, they're probably worn once maybe twice,

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Speaker 1: incredible condition, and they're like twenty bucks, twenty twenty five bucks.

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Speaker 1: It's insane. These are multi hundred dollar addresses. So if

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Speaker 1: you're a lady and you like the finer things in life,

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Speaker 1: this is a great way to get the best of

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Speaker 1: both them. So did she rent you said, it's the

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Speaker 1: renting website. Yeah, so somebody else rents it and then

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Speaker 1: she buys it after it's been rented, so it's like

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Speaker 1: Newly resale. I think it's it lives on the Anthropology website.

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Speaker 1: So if you're a lady who likes anthropology, which like

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Speaker 1: my wife, it's a way to get that style, but

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Speaker 1: for less money.

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Speaker 2: I was wondering if like it would be smart for

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Speaker 2: Newly to say hey, yeah, we'll rent this to you

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Speaker 2: and then while you have it within your period of rental.

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Speaker 2: They should totally be sending messages of folks and say hey,

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Speaker 2: by the way, do you love this dress, We'll give

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Speaker 2: it to you for this much, which they do.

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Speaker 1: So that makes so much sense. So she we did.

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Speaker 1: We rented one time because she wanted a dress for

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Speaker 1: a fancy event we had to go to, and she

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Speaker 1: they told her, oh, hey, you know, here's the price

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Speaker 1: for each one of these dresses if you want, and

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Speaker 1: so she kept that one dress she loved. She sent

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Speaker 1: all the other ones back.

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Speaker 2: Because obviously you kept it because you're like, oh, yeah,

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Speaker 2: this is the one. So why wouldn't you want to

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Speaker 2: be able to do that again? Yes, that's smart exactly. Well,

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Speaker 2: let's talk about investing Joel, because Vanguard one of our favorites.

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Speaker 2: They continue to be awesome and they have slashed their

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Speaker 2: fees again. Fifty three funds got a fee reduction on Monday,

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Speaker 2: and for instance, in the story, we saw total Stock

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Speaker 2: Market Index fund went from point one four to point

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Speaker 2: zero six percent, which is fantastic, well done. It's actually

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Speaker 2: it was interesting because it was its actually for a

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Speaker 2: mutual fund that is no longer open to new investors.

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Speaker 1: Which is even more admirable is it's not attracting more people, right,

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Speaker 1: and so the fact that they're just trying to cut

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Speaker 1: expenses for their current long standing investors just warms my

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Speaker 1: heart even more because I was just like, oh, why not,

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Speaker 1: Why wouldn't you just because it's essentially VT SACKS replaced

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Speaker 1: is like VT SMX, I think.

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Speaker 2: But then for all the folks listening out there, like

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Speaker 2: Admiral Shares, where it's got like a certain amount of

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Speaker 2: that you need to go in, at VTI has an

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Speaker 2: even lower expense ratio points zero three percent, and you

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Speaker 2: don't have to show up with a ton of cash.

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Speaker 1: Regardless.

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Speaker 2: I still like that example in that story because of

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Speaker 2: the fact that it didn't apply. It's not like they're

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Speaker 2: trying to attract new customers. But the average fund fee

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Speaker 2: now at Vanguard is point zero six percent, which if

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Speaker 2: you're doing the math, that means sixty cents on one

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Speaker 2: thousand dollars invested, which is so cheap.

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Speaker 1: That's a deal right there.

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Speaker 2: And part of the reason Vanguard does this is because

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Speaker 2: of its unique ownership structure. Vanguard is owned by their investors.

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Speaker 2: It's a it's a co op, it's not a for

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Speaker 2: profit entity. It's like ARII, and it's one of the

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Speaker 2: reasons we love Vanguard. We laud this move and makes

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Speaker 2: me think of this Jack Bogel quote. He's the founder

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Speaker 2: of Vanguard and he perfectly sums it up decades ago

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Speaker 2: and he said, in investing, you get what you don't

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Speaker 2: pay for, which I that's investing nerdery at the Hatto

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Speaker 2: money level.

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Speaker 1: And Vanguard, as we talked about back in the day

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Speaker 1: with Robin Wigglesworth who documented kind of the rise of

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Speaker 1: Vanguard and just how much it's done for investors. I

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Speaker 1: can't think of one company that has saved the average

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Speaker 1: investor more money over the years than Vanguard. And they

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Speaker 1: keep doing it, and it puts more pressure on everybody

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Speaker 1: else in the industry. That's why fun fees are coming down.

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Speaker 1: It's kind of like Aldi in the grocery store game.

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Speaker 1: They because they're so hawkish about lowering prices for consumers,

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Speaker 1: every other grocery store has to get with the program

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Speaker 1: because all the he's so good at it. It's the

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Speaker 1: same thing with Vanguard and then Fidelity and Schwab all

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Speaker 1: these other guys. They feel the pressure. They're like, all right,

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Speaker 1: we got to keep coroslow too. See.

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Speaker 2: If I had to pick, I would say that Vanguard

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Speaker 2: was the costco of of investors because initially, really you

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Speaker 2: did have to show up with a little more like

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Speaker 2: you kind of have to go all I mean, the

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Speaker 2: quality is there, but it's also no frills. And that's

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Speaker 2: what I think about when I log onto the Vanguard website.

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Speaker 2: Oh there's some things that you have to do that

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Speaker 2: a little backwards.

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Speaker 1: I'll just say that.

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Speaker 2: Yeah, yeah, And that's how it is when you show

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Speaker 2: up at Costco, you're just like all right, But I

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Speaker 2: guess you could say the same for audio. Well yeah,

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Speaker 2: I think you're like, I gotta put my cart back,

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Speaker 2: all right, that's weird.

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Speaker 1: But well, speaking of Vanguard, they they're starting to warn

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Speaker 1: clients actually about a phenomenon called non diversification risk, And

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Speaker 1: basically what they're saying is that investing in index funds

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Speaker 1: is seen as in and of itself a diversification play

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Speaker 1: because you're buying slices of hundreds or thousands of companies.

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Speaker 1: You know, one move, you said it and forget it.

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Speaker 1: But with increasing concentration at the top, no brainer. Index

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Speaker 1: funds are now a little bit less diversified than they

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Speaker 1: used to be, which increases risk a little bit. So

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Speaker 1: in Nvidia, Apple, Microsoft, Google, so just a handful of

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Speaker 1: companies make up such a large percentage now of your

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Speaker 1: index fund holdings that it does mean there's a little

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Speaker 1: more risk concentration inside of something that was consistently, over

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Speaker 1: a long period of time viewed as widely diversified and

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Speaker 1: you didn't need to hold anything else. I think maybe

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Speaker 1: this is especially true in light of the software stock

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Speaker 1: apocalypse that happened this week. But Fidelity other brokers firms too,

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Speaker 1: are kind of changing, actually even going as far as

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Speaker 1: to change the legal wording inside of their index fund descriptions,

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Speaker 1: calling them non diversified funds, whereas before they had not

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Speaker 1: called that out. Matt, you and I we still like

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Speaker 1: low cost index funds. We still think they're top notch

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Speaker 1: and a good choice for a whole lot of investors.

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Speaker 1: But I guess my question for you is, do you

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Speaker 1: think this might be another reason kind of like we

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Speaker 1: talked about recently with geopolitical risks. Is this non diversified,

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Speaker 1: non diversification reality of index funds. Does it lead you

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Speaker 1: to think that maybe it makes sense to own other

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00:19:00,400 --> 00:19:02,520
Speaker 1: assets inside of your retirement accounts.

435
00:19:02,560 --> 00:19:04,240
Speaker 2: I do think if you're looking for a reason, like

436
00:19:04,280 --> 00:19:06,440
Speaker 2: if you're looking for a rationale. Sure, right, Like if

437
00:19:06,440 --> 00:19:08,720
Speaker 2: you were already like I'm feeling like I'm going to

438
00:19:08,760 --> 00:19:12,200
Speaker 2: start moving more internationally than this is. This helps to

439
00:19:12,240 --> 00:19:13,439
Speaker 2: kind of bolster that argument or.

440
00:19:13,440 --> 00:19:15,600
Speaker 1: Small caps too. That's another argument for small caps.

441
00:19:15,720 --> 00:19:18,480
Speaker 2: Yeah, but at the same time, the so like you

442
00:19:18,600 --> 00:19:20,879
Speaker 2: mentioned the like essentially you mentioned like the software as

443
00:19:20,960 --> 00:19:24,760
Speaker 2: a service crash from earlier this week, and the reason

444
00:19:24,760 --> 00:19:28,520
Speaker 2: that those companies tanks was because of why because of AI? Sure,

445
00:19:28,640 --> 00:19:31,640
Speaker 2: and so also with even within like oh AI can

446
00:19:31,640 --> 00:19:33,560
Speaker 2: do our jobs, and yeah, maybe we don't.

447
00:19:33,600 --> 00:19:34,480
Speaker 1: I guess you have jobs.

448
00:19:34,480 --> 00:19:36,560
Speaker 2: I mean, if you are invested, even in an S

449
00:19:36,560 --> 00:19:38,639
Speaker 2: and P five hund fund, you are invested in all

450
00:19:38,680 --> 00:19:40,480
Speaker 2: the AI companies, and so in that way, it's sort

451
00:19:40,480 --> 00:19:42,080
Speaker 2: of self balancing, it's self governing.

452
00:19:42,200 --> 00:19:44,240
Speaker 1: There are when you're invested in a bunch of other

453
00:19:44,240 --> 00:19:47,200
Speaker 1: companies who are using AI to boost their earnings.

454
00:19:47,240 --> 00:19:49,159
Speaker 2: Yeah yeah, yeah, but even like looking at it, like

455
00:19:49,280 --> 00:19:53,399
Speaker 2: the most direct outcome of the AI boom, Okay, we

456
00:19:53,440 --> 00:19:55,879
Speaker 2: see AI companies shooting up, and we see software as

457
00:19:55,960 --> 00:19:58,840
Speaker 2: a service going down, and it's self correcting in that way.

458
00:19:58,920 --> 00:20:01,720
Speaker 2: So I mean, personally, I'm not at all again, talk

459
00:20:01,720 --> 00:20:04,160
Speaker 2: to me in two years it's twenty twenty six. Talk

460
00:20:04,160 --> 00:20:05,600
Speaker 2: to me in twenty twenty eight and not twenty twenty

461
00:20:05,640 --> 00:20:07,879
Speaker 2: eight if things are continuing that same direction. I'm a

462
00:20:07,920 --> 00:20:10,199
Speaker 2: long term investor, like I'm looking to invest until I'm

463
00:20:10,200 --> 00:20:10,920
Speaker 2: a hundred years old.

464
00:20:10,960 --> 00:20:11,080
Speaker 1: Man.

465
00:20:11,560 --> 00:20:13,679
Speaker 2: Like when I sit down with Kate at the beginning

466
00:20:13,760 --> 00:20:16,439
Speaker 2: of the year and I literally map this out and

467
00:20:16,480 --> 00:20:18,440
Speaker 2: we look at how much we have in retirement, I'm like, Okay,

468
00:20:18,600 --> 00:20:21,280
Speaker 2: look with our current burn rate once we enter and

469
00:20:21,320 --> 00:20:24,760
Speaker 2: it's also pre retirement years, right like as you're trying

470
00:20:24,800 --> 00:20:28,600
Speaker 2: to bridge to official retirement. But then once we're looking

471
00:20:28,640 --> 00:20:31,280
Speaker 2: at our retirement years and looking outward like I'm literally

472
00:20:31,359 --> 00:20:33,639
Speaker 2: doing it until I'm a hundred years old, and this

473
00:20:33,720 --> 00:20:35,760
Speaker 2: is our burn rate. This is what we can expect

474
00:20:35,760 --> 00:20:37,600
Speaker 2: from the market. Is not guaranteed, but this is what

475
00:20:37,640 --> 00:20:40,520
Speaker 2: we can expect. It's over, It's over decades and decades,

476
00:20:40,760 --> 00:20:43,520
Speaker 2: so little ups and downs into here and there don't

477
00:20:43,640 --> 00:20:44,320
Speaker 2: don't phase me out.

478
00:20:44,600 --> 00:20:46,920
Speaker 1: I have a little more small cap in international exposure,

479
00:20:47,720 --> 00:20:51,040
Speaker 1: especially after we had Paul Merriman on the show who

480
00:20:51,200 --> 00:20:54,480
Speaker 1: talked about, you know, the historical returns of small caps,

481
00:20:54,480 --> 00:20:55,920
Speaker 1: and I thought he made a compelling case.

482
00:20:56,080 --> 00:20:59,800
Speaker 2: The two fund approach small cap coupled with with date

483
00:21:00,040 --> 00:21:02,240
Speaker 2: target target date funds, Yeah, which to me it was

484
00:21:02,240 --> 00:21:04,320
Speaker 2: a great argument. But I'm also like, why not even

485
00:21:04,480 --> 00:21:07,560
Speaker 2: keep it even simpler with just the SMP, which is

486
00:21:07,600 --> 00:21:11,280
Speaker 2: more aggressive but also doesn't have the aggressiveness and potentially

487
00:21:11,320 --> 00:21:12,560
Speaker 2: the growth as small cat.

488
00:21:12,640 --> 00:21:15,840
Speaker 1: In Simplicity is one of the main reasons right where

489
00:21:16,240 --> 00:21:18,359
Speaker 1: picking one fund, setting it and forgetting it, not worrying

490
00:21:18,400 --> 00:21:20,919
Speaker 1: about it. I still think for the vast majority of

491
00:21:21,000 --> 00:21:24,600
Speaker 1: investors like that, even though there are these small concerns,

492
00:21:24,600 --> 00:21:26,679
Speaker 1: like there are these blips on the radar, where like

493
00:21:26,680 --> 00:21:29,520
Speaker 1: you usual at least be paying attention to that, I

494
00:21:29,600 --> 00:21:31,480
Speaker 1: don't think it means that people should be making a

495
00:21:31,560 --> 00:21:34,760
Speaker 1: dramatically different choice. And I think investing in low cost

496
00:21:35,440 --> 00:21:37,320
Speaker 1: even if they're called non diversified now s and P

497
00:21:37,359 --> 00:21:39,680
Speaker 1: five hunx ONUND or total stock market index ones, it's

498
00:21:39,680 --> 00:21:41,800
Speaker 1: still pretty dang diversified. Yeah, still going to do well

499
00:21:41,840 --> 00:21:43,920
Speaker 1: for you over a long period of time as a

500
00:21:43,920 --> 00:21:46,080
Speaker 1: long term investor. Sure, let's talk about gold and silver

501
00:21:46,160 --> 00:21:50,119
Speaker 1: though they felt like this immovable force. It's just been

502
00:21:50,160 --> 00:21:52,639
Speaker 1: going up right, and everybody wanted to get in. When

503
00:21:52,680 --> 00:21:55,320
Speaker 1: you look at like the activity the training happening in

504
00:21:55,359 --> 00:21:57,880
Speaker 1: some of those gold and silver and precious metals ETFs.

505
00:21:57,960 --> 00:22:00,600
Speaker 1: Matt it was like meme stock active going on in

506
00:22:00,640 --> 00:22:03,560
Speaker 1: the last couple of weeks, and then like what precious

507
00:22:03,600 --> 00:22:07,160
Speaker 1: metals plunged double digits in a single day last week,

508
00:22:08,359 --> 00:22:10,880
Speaker 1: Silver was down by thirty six percent in one day.

509
00:22:10,960 --> 00:22:14,960
Speaker 1: That's that's a lot, and so it's I think for

510
00:22:15,000 --> 00:22:18,399
Speaker 1: a while there people as when the price goes up,

511
00:22:18,440 --> 00:22:24,720
Speaker 1: everyone starts to the chatter becomes about those particular commodities

512
00:22:24,760 --> 00:22:28,440
Speaker 1: or those asset classes. And we've always said we haven't

513
00:22:28,480 --> 00:22:32,800
Speaker 1: changed our tune gold, silver, really anything that's outside of

514
00:22:32,960 --> 00:22:37,000
Speaker 1: the bucket of your you know, massive stockholdings. It should

515
00:22:37,000 --> 00:22:40,040
Speaker 1: be five percent of your portfolio at most. And gold

516
00:22:40,080 --> 00:22:42,840
Speaker 1: and silver they're different than meme stocks, are different than crypto.

517
00:22:43,080 --> 00:22:46,560
Speaker 1: I wouldn't place them in the same category. But we

518
00:22:46,640 --> 00:22:49,359
Speaker 1: also tend in your opinion, do they get more or less?

519
00:22:50,040 --> 00:22:54,040
Speaker 1: I think I think gold is a has more credence

520
00:22:54,440 --> 00:22:59,800
Speaker 1: than meme stocks or than crypto most cryptocurrencies, just because

521
00:23:00,119 --> 00:23:05,080
Speaker 1: of its long standing view as a store value. Sure, so,

522
00:23:06,240 --> 00:23:06,880
Speaker 1: do does.

523
00:23:06,800 --> 00:23:09,360
Speaker 2: It change the actual application of the amount of gold

524
00:23:09,440 --> 00:23:11,760
Speaker 2: or silver? Do you think in like the average listeners

525
00:23:11,760 --> 00:23:12,760
Speaker 2: portfolio though.

526
00:23:12,680 --> 00:23:14,800
Speaker 1: No, I think five percent of the max, even though

527
00:23:14,800 --> 00:23:17,080
Speaker 1: I would say I would rather hold gold or silver

528
00:23:17,240 --> 00:23:19,880
Speaker 1: in that five percent than I would mean stocks gotch

529
00:23:19,920 --> 00:23:23,919
Speaker 1: right or cryptocurrency. But yeah, I think it's always it's

530
00:23:23,960 --> 00:23:26,119
Speaker 1: easy to look really dumb, right when an asset's going

531
00:23:26,200 --> 00:23:29,080
Speaker 1: up really quickly, and you and I'm at are advocating

532
00:23:29,119 --> 00:23:31,720
Speaker 1: like a bland portfolio of widely diversified stocks. People are

533
00:23:31,720 --> 00:23:34,280
Speaker 1: like ge with the times boys, like why don't you reckon?

534
00:23:34,359 --> 00:23:36,520
Speaker 1: I want to hear them talking about VOO and VTI. Yeah, right,

535
00:23:37,000 --> 00:23:40,600
Speaker 1: lame boring, And it's hard I think as an investor

536
00:23:40,640 --> 00:23:42,720
Speaker 1: not to feel fomo when you're seeing the headlines and

537
00:23:42,720 --> 00:23:46,080
Speaker 1: you're seeing the up into the right activity. But I

538
00:23:46,080 --> 00:23:48,440
Speaker 1: think this is just another reason to know what you're

539
00:23:48,480 --> 00:23:52,520
Speaker 1: doing and why. It makes it easier to resist the trends, right,

540
00:23:52,600 --> 00:23:56,480
Speaker 1: and you know, especially as something like as bitcoin has again,

541
00:23:56,480 --> 00:23:58,879
Speaker 1: like we addressed the beginning, experiencing this kind of crypto

542
00:23:58,960 --> 00:24:01,920
Speaker 1: winter number two or I don't even know how many

543
00:24:02,000 --> 00:24:04,600
Speaker 1: times it's the client of value to this extent, but

544
00:24:05,400 --> 00:24:08,960
Speaker 1: why are you investing? What's your conviction behind that investments?

545
00:24:08,960 --> 00:24:11,520
Speaker 1: And it makes it easier at least to stomach a decline.

546
00:24:11,640 --> 00:24:14,480
Speaker 1: If you have thoughtful reasoning behind why you're investing the

547
00:24:14,480 --> 00:24:15,879
Speaker 1: way you are, that's right, buddy.

548
00:24:15,880 --> 00:24:17,440
Speaker 2: But we've got more to get to. We got more

549
00:24:17,440 --> 00:24:20,400
Speaker 2: to get to on this Friday flight. Specifically, I'm really

550
00:24:20,440 --> 00:24:23,240
Speaker 2: excited about what an insurance company is doing, how they're

551
00:24:23,240 --> 00:24:26,760
Speaker 2: treating evs, specifically Tesla's with full self driving.

552
00:24:26,800 --> 00:24:36,720
Speaker 1: We'll get to that more right after this we're back.

553
00:24:36,880 --> 00:24:39,639
Speaker 1: The Friday flight continues as time for the ludicrous headline

554
00:24:39,680 --> 00:24:44,560
Speaker 1: of the week. This comes from Sherwood, which is the

555
00:24:43,560 --> 00:24:47,000
Speaker 1: the content arm of Robinhood and actually do a pretty

556
00:24:47,000 --> 00:24:50,159
Speaker 1: good job on that site. I'm willing to call it journalism. Yeah,

557
00:24:50,200 --> 00:24:53,119
Speaker 1: I think so. I think they put a lot of

558
00:24:53,119 --> 00:24:57,760
Speaker 1: great insightful investing content. The title of this article was

559
00:24:57,880 --> 00:25:01,320
Speaker 1: the rise of in car ads. Automakers now view infotainment

560
00:25:01,359 --> 00:25:06,880
Speaker 1: screens as huge possible source of AD revenue. I don't

561
00:25:06,880 --> 00:25:07,600
Speaker 1: know what you thought when.

562
00:25:07,520 --> 00:25:11,679
Speaker 2: You saw this, but expected, yeah, yeah, I thought I

563
00:25:11,680 --> 00:25:13,000
Speaker 2: was just like, oh yeah, we talked about.

564
00:25:12,800 --> 00:25:15,120
Speaker 1: It with what like Jeep doing that not too long ago.

565
00:25:15,240 --> 00:25:16,960
Speaker 1: But this I remember when I.

566
00:25:16,880 --> 00:25:19,000
Speaker 2: Talked about it when the different was it wasn't g

567
00:25:19,119 --> 00:25:20,439
Speaker 2: I thought it was like it was one of the

568
00:25:20,440 --> 00:25:25,639
Speaker 2: makers that was ending the partnership with Apple Play specifically.

569
00:25:25,080 --> 00:25:27,440
Speaker 1: Oh GM, GM's doing that GM. Yeah.

570
00:25:27,400 --> 00:25:29,000
Speaker 2: They're like they're like, oh yeah, it's no longer going

571
00:25:29,080 --> 00:25:30,800
Speaker 2: to work, which is like the best part of being

572
00:25:30,840 --> 00:25:33,359
Speaker 2: able to rent a car and seeing that doing the

573
00:25:33,400 --> 00:25:36,480
Speaker 2: Apple Play and everybody's going back to proprietary software because

574
00:25:36,480 --> 00:25:39,320
Speaker 2: of the control that they have over the well specifically

575
00:25:39,359 --> 00:25:41,240
Speaker 2: the user data, right, because when you set up a

576
00:25:41,280 --> 00:25:43,520
Speaker 2: car Play, where is all your data going is it's

577
00:25:43,520 --> 00:25:45,480
Speaker 2: going straight to Apple yep. But of course all the

578
00:25:45,520 --> 00:25:47,720
Speaker 2: car companies want a piece of the pie. They want

579
00:25:47,720 --> 00:25:49,680
Speaker 2: to cut all of that valuable data.

580
00:25:49,720 --> 00:25:52,000
Speaker 1: They want full control. Yeah, and in some ways, like

581
00:25:52,520 --> 00:25:54,480
Speaker 1: maybe it'll be a better experience, but I think for

582
00:25:54,560 --> 00:25:59,199
Speaker 1: most use car buyers that's actually a deal breaker, right,

583
00:25:59,240 --> 00:26:02,119
Speaker 1: They're like, oh, g cars don't have car Play. Non interested,

584
00:26:02,119 --> 00:26:05,159
Speaker 1: I'll go I'll go elsewhere. So but the truth is,

585
00:26:05,200 --> 00:26:07,359
Speaker 1: like the cars are getting more impressive by the day.

586
00:26:07,359 --> 00:26:09,320
Speaker 1: I still remember the first time I saw a Tesla

587
00:26:09,320 --> 00:26:11,199
Speaker 1: Model three and I saw that giant screen and that

588
00:26:11,240 --> 00:26:14,040
Speaker 1: minimalist interior, and I was like, that's dope, that's cool,

589
00:26:14,080 --> 00:26:16,840
Speaker 1: Like that's that sounds like something I'm interested. I feel

590
00:26:16,840 --> 00:26:19,120
Speaker 1: like I'm actually far less interested in it now, especially

591
00:26:19,119 --> 00:26:23,560
Speaker 1: when you read stories like this because like, you know,

592
00:26:23,640 --> 00:26:27,359
Speaker 1: Ford actually this article documented how Ford has even patented

593
00:26:27,640 --> 00:26:31,919
Speaker 1: a system that will serve you relevant ads based on

594
00:26:32,000 --> 00:26:35,480
Speaker 1: conversations you're having in the car hanging with your homies,

595
00:26:35,520 --> 00:26:38,160
Speaker 1: like riding along and whatever you talk about. Maybe you're

596
00:26:38,160 --> 00:26:40,720
Speaker 1: talking about your your favorite new rum that you're drinking

597
00:26:40,800 --> 00:26:43,560
Speaker 1: or something. You're gonna get served ads for the stuff

598
00:26:43,600 --> 00:26:45,639
Speaker 1: that you're talking about, which is crazy while you're driving,

599
00:26:45,760 --> 00:26:49,040
Speaker 1: which is even worse. Right, yes, like I can't, no,

600
00:26:49,280 --> 00:26:50,720
Speaker 1: I can't, and Bube Captain Morgan right.

601
00:26:50,680 --> 00:26:53,480
Speaker 2: Now, don't tend to me now, for it seems like

602
00:26:53,520 --> 00:26:56,600
Speaker 2: such a Ford thing to do, because like all companies

603
00:26:56,640 --> 00:26:58,760
Speaker 2: do that, right, but the fact that they've overstepped or

604
00:26:58,760 --> 00:27:01,600
Speaker 2: maybe they didn't present us in a way that was

605
00:27:01,640 --> 00:27:04,480
Speaker 2: pr friendly. Yeah, they're just getting hammered for it, right, Like,

606
00:27:04,960 --> 00:27:06,560
Speaker 2: this is why you get ads for all the things

607
00:27:06,600 --> 00:27:08,639
Speaker 2: you get ads for after you talk about them, because

608
00:27:08,840 --> 00:27:10,880
Speaker 2: you've got your microphone on. This is why I don't

609
00:27:10,880 --> 00:27:12,760
Speaker 2: have an Alexa because of the like I don't want

610
00:27:12,840 --> 00:27:15,320
Speaker 2: to listen to all the stuff. Man, Yeah, you have

611
00:27:15,359 --> 00:27:17,399
Speaker 2: to take productive steps if you want to eliminate that.

612
00:27:17,400 --> 00:27:19,480
Speaker 1: From your life. I think I'm just kind of viscerally

613
00:27:19,600 --> 00:27:22,760
Speaker 1: against paying seventy thousand plus dollars for a new vehicle

614
00:27:22,800 --> 00:27:25,720
Speaker 1: and then being served ads inside of that vehicle. It

615
00:27:26,280 --> 00:27:28,920
Speaker 1: feels like you don't The lines of ownership are getting

616
00:27:29,160 --> 00:27:33,040
Speaker 1: more and more blurred with tech heavy gadgets, including yeah

617
00:27:33,080 --> 00:27:35,840
Speaker 1: and especially cars. Now, it just makes me even more

618
00:27:35,880 --> 00:27:40,640
Speaker 1: content to own an older vehicle that isn't constantly connected everything.

619
00:27:40,320 --> 00:27:42,679
Speaker 2: And seventy thousand Actually, I mean, maybe there might be

620
00:27:42,680 --> 00:27:45,760
Speaker 2: some folks who are a long time frugal or is

621
00:27:45,760 --> 00:27:48,040
Speaker 2: it cheap listeners and they're just like, dude, come on,

622
00:27:48,119 --> 00:27:50,520
Speaker 2: there's not cars up. People aren't buying seventy thousand other cars.

623
00:27:50,640 --> 00:27:51,760
Speaker 1: I'm surprised they are.

624
00:27:51,800 --> 00:27:54,560
Speaker 2: And more I talk to folks and they're talking about like, oh,

625
00:27:54,800 --> 00:27:55,639
Speaker 2: because we'll talk about it.

626
00:27:55,800 --> 00:27:58,399
Speaker 1: The average is fifty Now, then clearly there are a

627
00:27:58,400 --> 00:27:59,959
Speaker 1: lot of cars that cost seven like we're talking to.

628
00:28:00,480 --> 00:28:01,800
Speaker 2: I mean, there's a lot of young families in our

629
00:28:01,840 --> 00:28:03,800
Speaker 2: lives and they've got a bunch of kids, and maybe

630
00:28:03,800 --> 00:28:05,600
Speaker 2: they don't want to go down the path of the minivan,

631
00:28:05,680 --> 00:28:08,920
Speaker 2: which evidently minivans back minivans on the rise. I didn't

632
00:28:08,960 --> 00:28:11,480
Speaker 2: know so many folks were buying chrysl or Pacificos, but

633
00:28:11,520 --> 00:28:13,960
Speaker 2: I'm seeing more and more folks driving the new Expeditions,

634
00:28:14,080 --> 00:28:16,920
Speaker 2: which evidently got some stamp of approval from some Mommy

635
00:28:16,960 --> 00:28:19,600
Speaker 2: blogger from a safety standpoint, from a features, but that

636
00:28:19,680 --> 00:28:23,040
Speaker 2: thing starts at sixty five thousand dollars, which means most

637
00:28:23,119 --> 00:28:25,640
Speaker 2: people are spending much more than that, Like you are

638
00:28:25,680 --> 00:28:28,840
Speaker 2: easily getting up into the past. Seventy thousand dollars is

639
00:28:28,960 --> 00:28:32,800
Speaker 2: if you're wanting to fancier features, the safety, safety features.

640
00:28:32,840 --> 00:28:35,000
Speaker 2: It's got the tilting seats, it's got all the different

641
00:28:35,640 --> 00:28:39,200
Speaker 2: seat anchors. But I'm like, oh my goodness, the amount

642
00:28:39,240 --> 00:28:41,480
Speaker 2: of money that you're putting towards a depreciating asset like that,

643
00:28:41,520 --> 00:28:43,760
Speaker 2: as opposed to imagine what that would do for you

644
00:28:43,800 --> 00:28:46,080
Speaker 2: had you invested that in the market. I guess this

645
00:28:46,160 --> 00:28:48,600
Speaker 2: is just old man Matt just not being used to

646
00:28:48,720 --> 00:28:50,600
Speaker 2: what it is that folks are spending on on vehicles

647
00:28:50,600 --> 00:28:51,000
Speaker 2: these days.

648
00:28:51,040 --> 00:28:53,960
Speaker 1: Well that, and then if there's just constant ads displayed

649
00:28:54,000 --> 00:28:57,160
Speaker 1: on your screen, especially ones that are invasive, You're like,

650
00:28:57,440 --> 00:29:00,280
Speaker 1: I spend seventy thousand dollars getting hit with it, and

651
00:29:00,320 --> 00:29:03,200
Speaker 1: they're still finding a way to like get into my brain.

652
00:29:03,760 --> 00:29:04,920
Speaker 1: I don't like it. That sounds terrible.

653
00:29:04,960 --> 00:29:08,000
Speaker 2: Even on our stupid little twenty twelve Honda Odyssey display,

654
00:29:08,200 --> 00:29:11,360
Speaker 2: there's different features and the display that I've sucked it is.

655
00:29:11,480 --> 00:29:14,040
Speaker 2: I think it's called like minimum but it's just black. Yeah,

656
00:29:14,080 --> 00:29:15,200
Speaker 2: Like all it does is have the time in the

657
00:29:15,200 --> 00:29:15,920
Speaker 2: top left corner.

658
00:29:16,240 --> 00:29:17,080
Speaker 1: Yeah, because I don't.

659
00:29:17,480 --> 00:29:18,760
Speaker 2: I don't want to see it, man, don't want to

660
00:29:18,760 --> 00:29:21,440
Speaker 2: see it. Speaking of big screens, do you see that

661
00:29:21,480 --> 00:29:25,920
Speaker 2: Tesla said they're going to stop manufacturing the the S,

662
00:29:26,080 --> 00:29:28,720
Speaker 2: which I'm fine with. That's like the original luxury siday

663
00:29:28,720 --> 00:29:31,000
Speaker 2: Inn or whatever. But then also the X, which I'm

664
00:29:31,000 --> 00:29:33,280
Speaker 2: totally bummed about because uprising that was gonna be I mean,

665
00:29:33,320 --> 00:29:37,040
Speaker 2: that's the one with the actual legit third row and

666
00:29:37,240 --> 00:29:39,120
Speaker 2: you know obviously it's got the goal wings or whatever

667
00:29:39,120 --> 00:29:42,160
Speaker 2: that go up like a Lambeau or something. But yeah,

668
00:29:42,200 --> 00:29:43,600
Speaker 2: I was kind of bumed because I was thinking, Okay,

669
00:29:43,600 --> 00:29:45,959
Speaker 2: if we got one, we could fit the entire family

670
00:29:46,200 --> 00:29:48,520
Speaker 2: in an X. But this is part of Tesla's move

671
00:29:48,600 --> 00:29:51,880
Speaker 2: to towards cutting how many cars are making. Instead, they

672
00:29:51,920 --> 00:29:55,000
Speaker 2: want to focus on robots, so we'll see how that

673
00:29:55,000 --> 00:29:55,640
Speaker 2: plays out for.

674
00:29:55,840 --> 00:29:59,480
Speaker 1: Shareholders of Tesla. And Tesla's always been valued less as

675
00:29:59,520 --> 00:30:01,280
Speaker 1: a car company more as a tech company. But this

676
00:30:01,440 --> 00:30:04,240
Speaker 1: just shows that they really are a tech company and

677
00:30:04,360 --> 00:30:08,400
Speaker 1: less a car company. Uh, because you're cutting literally two

678
00:30:08,440 --> 00:30:10,240
Speaker 1: different vehicles that you make out of a line of

679
00:30:10,280 --> 00:30:13,800
Speaker 1: what five? Yeah, so two out of five your vehicles. Yeah,

680
00:30:14,120 --> 00:30:15,920
Speaker 1: if you're count in the cyber truck. Yeah, which I think,

681
00:30:16,000 --> 00:30:18,320
Speaker 1: yeah too, even though I don't think it's selling in

682
00:30:18,400 --> 00:30:19,600
Speaker 1: meaningful numbers or anything like that.

683
00:30:19,880 --> 00:30:22,440
Speaker 2: What. Yeah, let's keep moving. I was gonna ask about

684
00:30:22,440 --> 00:30:25,160
Speaker 2: the robotaxi, but yeah, we'll say that for the next time.

685
00:30:25,200 --> 00:30:27,160
Speaker 1: Let's talk about you continue talking about EV's. Let's talk

686
00:30:27,160 --> 00:30:29,680
Speaker 1: about Chinese evs because those are in the spotlight more

687
00:30:29,720 --> 00:30:33,600
Speaker 1: and more these days. And Marque's Brown the MKBHD Matt

688
00:30:33,640 --> 00:30:36,960
Speaker 1: the dude on YouTube thought, is it Marcus Mark? I thought, yeah,

689
00:30:36,960 --> 00:30:39,960
Speaker 1: maybe he spells it like fancy Marcus. Yeah, but dude,

690
00:30:39,960 --> 00:30:42,400
Speaker 1: he's also he does such a good job reviewing tech stuff.

691
00:30:42,440 --> 00:30:44,800
Speaker 1: I love his videos. And then Joanna Thurn of The

692
00:30:44,800 --> 00:30:46,840
Speaker 1: Wall Street Journal, who's the tech writer there. They both

693
00:30:46,960 --> 00:30:49,920
Speaker 1: in the last like month or so, talked at length

694
00:30:50,280 --> 00:30:53,480
Speaker 1: about how stoked they are about Chinese evs that they've

695
00:30:53,520 --> 00:30:56,720
Speaker 1: tested in, particularly the show Me sports car, which is

696
00:30:56,760 --> 00:31:00,880
Speaker 1: like forty thousand dollars in China. Apparently they rave about it,

697
00:31:00,920 --> 00:31:03,200
Speaker 1: and they don't they're not able to keep it and

698
00:31:03,240 --> 00:31:05,960
Speaker 1: drive it on US roads long term. But they that

699
00:31:06,120 --> 00:31:08,640
Speaker 1: even just their like multi day test drive, they were

700
00:31:08,640 --> 00:31:11,400
Speaker 1: in Heaven and they said it's like basically better than

701
00:31:11,440 --> 00:31:14,160
Speaker 1: any US made EV even once that cost twice as much.

702
00:31:14,880 --> 00:31:17,520
Speaker 1: And some curious toy like would would you? I would

703
00:31:17,520 --> 00:31:20,080
Speaker 1: love to test out one of these Chinese eus? But

704
00:31:20,360 --> 00:31:23,200
Speaker 1: and it seems like they're phenomenal products, but it also

705
00:31:23,200 --> 00:31:24,920
Speaker 1: seems like there's not this even playing field. A lot

706
00:31:24,960 --> 00:31:28,680
Speaker 1: of people assume that if there were no tariffs against

707
00:31:28,680 --> 00:31:31,880
Speaker 1: these Chinese evs, that they'd come in, they'd flood the market,

708
00:31:32,160 --> 00:31:34,800
Speaker 1: and we'd all be driving fancier, cheaper cars. So I

709
00:31:34,880 --> 00:31:36,680
Speaker 1: was ready to get political talking about the terriffs.

710
00:31:37,000 --> 00:31:38,600
Speaker 2: So you just want to you want to say no

711
00:31:38,720 --> 00:31:40,640
Speaker 2: terrifts to China so that we can get your hands

712
00:31:40,640 --> 00:31:43,120
Speaker 2: on a Is it show me or show me?

713
00:31:43,840 --> 00:31:46,160
Speaker 1: I don't know, pronunciation fails me.

714
00:31:46,440 --> 00:31:48,520
Speaker 2: No, I'm not saying that all or BYD you know,

715
00:31:48,600 --> 00:31:49,800
Speaker 2: like you want to get get your hands on one

716
00:31:49,800 --> 00:31:50,000
Speaker 2: of those.

717
00:31:50,040 --> 00:31:52,240
Speaker 1: I think it's a tough because you're talking about the

718
00:31:52,680 --> 00:31:55,120
Speaker 1: fact that the reason these evs are so much cheaper

719
00:31:55,160 --> 00:31:58,840
Speaker 1: is not because the Chinese manufacturers. I think they have

720
00:31:58,880 --> 00:32:01,320
Speaker 1: done really well from a tech building perspective, a couple

721
00:32:01,320 --> 00:32:04,640
Speaker 1: of them, but it's because of the subsidiation, subsidation factor

722
00:32:04,680 --> 00:32:06,960
Speaker 1: and the tech that they've stolen from the US. Some

723
00:32:07,040 --> 00:32:09,240
Speaker 1: of that too, right, But when you look at those factories,

724
00:32:09,280 --> 00:32:11,000
Speaker 1: you and I have talked about it before, so many

725
00:32:11,040 --> 00:32:14,240
Speaker 1: workers getting paid far less money than American workers living

726
00:32:14,440 --> 00:32:17,280
Speaker 1: on the campus, working sixty hours a week to build

727
00:32:17,280 --> 00:32:20,240
Speaker 1: these cars. That's why they're cheaper, right, And the government's

728
00:32:20,240 --> 00:32:22,800
Speaker 1: helping build these factories. It's no wonder that they're less

729
00:32:22,800 --> 00:32:24,840
Speaker 1: expensive than a Ruvin or a Tesla. Yep.

730
00:32:24,880 --> 00:32:27,840
Speaker 2: Absolutely, And it's also it also points to a future

731
00:32:27,880 --> 00:32:30,200
Speaker 2: that I don't think can hold for China because they're

732
00:32:30,200 --> 00:32:33,240
Speaker 2: basically it doesn't seem like a sustainable system where folks

733
00:32:33,280 --> 00:32:35,280
Speaker 2: are happy, and I don't see a lot of people

734
00:32:35,280 --> 00:32:36,960
Speaker 2: who are just like, oh man, I totally want to immigrate,

735
00:32:37,000 --> 00:32:39,960
Speaker 2: you know, head over to China because of the living conditions. Like, yes,

736
00:32:40,000 --> 00:32:42,920
Speaker 2: they are making something pretty incredible tech for sure, and

737
00:32:42,960 --> 00:32:45,360
Speaker 2: when you have a centralized communist style garment, there's a

738
00:32:45,400 --> 00:32:47,440
Speaker 2: whole lot that you can get done and it's really impressive.

739
00:32:47,440 --> 00:32:50,440
Speaker 2: But I don't think the center will hold. There's trade offs,

740
00:32:50,480 --> 00:32:51,840
Speaker 2: there are massive trade.

741
00:32:51,640 --> 00:32:53,240
Speaker 1: And I wouldn't I wouldn't want to be one of

742
00:32:53,280 --> 00:32:56,760
Speaker 1: the people working at the show me or BYD factory.

743
00:32:56,800 --> 00:32:57,440
Speaker 1: Absolutely not.

744
00:32:57,680 --> 00:32:59,560
Speaker 2: So before we move on, I want to get to

745
00:32:59,560 --> 00:33:02,760
Speaker 2: the the car insurance story. So we were talking about

746
00:33:02,760 --> 00:33:07,360
Speaker 2: Tesla Forget BYD Forget show me the full self driving

747
00:33:07,400 --> 00:33:10,719
Speaker 2: option that's now available on Tesla, which costs a lot

748
00:33:10,760 --> 00:33:11,040
Speaker 2: of money.

749
00:33:11,040 --> 00:33:13,080
Speaker 1: Do we talk about that? Well? They are they bringing

750
00:33:13,080 --> 00:33:14,680
Speaker 1: it down to a monthly for you now right.

751
00:33:14,560 --> 00:33:16,600
Speaker 2: It's a subscription. It's no longer a one time thing.

752
00:33:16,960 --> 00:33:18,880
Speaker 2: I think maybe we mentioned that a few weeks back.

753
00:33:18,960 --> 00:33:22,080
Speaker 2: But if you have a Tesla with full self driving,

754
00:33:22,240 --> 00:33:25,200
Speaker 2: Lemonade recognizes the fact that you are going to get

755
00:33:25,200 --> 00:33:28,120
Speaker 2: in fewer accidents per miles driven and they're going to

756
00:33:28,200 --> 00:33:32,280
Speaker 2: cut your insurance rates by fifty percent when it's engaged,

757
00:33:32,880 --> 00:33:36,160
Speaker 2: which I just love. I feel like Tesla went from

758
00:33:36,200 --> 00:33:41,280
Speaker 2: this pariah because of the fact that car cars that

759
00:33:41,280 --> 00:33:44,040
Speaker 2: were involved in accidents or Tesla specifically, it costs a

760
00:33:44,080 --> 00:33:46,680
Speaker 2: whole lot of money to repair them, and understandably, right,

761
00:33:46,720 --> 00:33:48,960
Speaker 2: like if you damage the battery pack or something like that.

762
00:33:49,200 --> 00:33:52,040
Speaker 2: But those cars are also less likely to get in

763
00:33:52,120 --> 00:33:54,480
Speaker 2: an accident if you look at the raw stats. That's

764
00:33:54,480 --> 00:33:57,040
Speaker 2: a good point based on full self driving. So on

765
00:33:57,040 --> 00:34:00,840
Speaker 2: one hand, I know it's really Yeah, it feels dystopian

766
00:34:00,880 --> 00:34:03,880
Speaker 2: and futuristic, and there's not a whole lot of comfort

767
00:34:03,920 --> 00:34:06,440
Speaker 2: maybe when you look over and the things driving itself,

768
00:34:07,680 --> 00:34:10,080
Speaker 2: but when you actually look at the stats. I like

769
00:34:10,160 --> 00:34:13,440
Speaker 2: that there's an insurance company that's looking at the bottom

770
00:34:13,520 --> 00:34:16,719
Speaker 2: line perhaps as opposed to maybe more the attitudes towards

771
00:34:16,880 --> 00:34:17,640
Speaker 2: full self driving.

772
00:34:17,719 --> 00:34:19,759
Speaker 1: Yeah, agreed, I thought that that was cool. It's a

773
00:34:19,800 --> 00:34:24,719
Speaker 1: reflection of the reality that insurance company is taking on

774
00:34:24,800 --> 00:34:27,879
Speaker 1: less risk when the car is in full self driving

775
00:34:27,880 --> 00:34:31,360
Speaker 1: mode because guess what, self driving is just much safer

776
00:34:31,400 --> 00:34:34,799
Speaker 1: than humans looking at their phones while they're driving. I

777
00:34:34,800 --> 00:34:35,919
Speaker 1: see it every single morning.

778
00:34:36,040 --> 00:34:39,279
Speaker 2: Yeah, dude, full self driving there's seven times less likely

779
00:34:39,600 --> 00:34:42,680
Speaker 2: to get into an accident promiles driven compared to a

780
00:34:42,760 --> 00:34:44,120
Speaker 2: human driven vehicle.

781
00:34:43,880 --> 00:34:46,280
Speaker 1: Which makes me think fifty percent might not be enough savings.

782
00:34:46,280 --> 00:34:48,600
Speaker 1: Mike like This is something that could should be seven

783
00:34:48,680 --> 00:34:53,080
Speaker 1: times more affordable. This could really escalate a reduction in

784
00:34:53,080 --> 00:34:56,600
Speaker 1: insurance costs for people who drive vehicles with full self driving.

785
00:34:56,600 --> 00:34:58,520
Speaker 1: And that's just kind of over the next decade, I

786
00:34:58,520 --> 00:35:00,759
Speaker 1: think we're just going to see so much more of that, all, Right,

787
00:35:01,040 --> 00:35:03,839
Speaker 1: Is your income keeping up with price hikes? Well, so

788
00:35:03,920 --> 00:35:07,560
Speaker 1: much of that depends on where you live. Actually, the

789
00:35:07,640 --> 00:35:10,759
Speaker 1: Bureau of Labor Statistics reports that the average income rose

790
00:35:10,800 --> 00:35:13,879
Speaker 1: something like eighteen percent from twenty twenty to twenty twenty four,

791
00:35:14,239 --> 00:35:18,719
Speaker 1: while costs rose twenty one percent, which, at least in

792
00:35:18,719 --> 00:35:21,920
Speaker 1: that short time span four years, means less purchasing power

793
00:35:21,920 --> 00:35:25,080
Speaker 1: for Americans. But whether that was the case for you,

794
00:35:25,280 --> 00:35:27,640
Speaker 1: or if you in particular were able to outpace inflation,

795
00:35:27,840 --> 00:35:29,759
Speaker 1: depends on a whole bunch of factors. Right, maybe you

796
00:35:29,840 --> 00:35:32,800
Speaker 1: jumped ship and found another job when the job market

797
00:35:32,840 --> 00:35:36,279
Speaker 1: was popping, But it also depends on exactly where you live.

798
00:35:36,360 --> 00:35:42,320
Speaker 1: Folks in Idaho, Florida, Washington, Montana, Wyoming, and South Carolina

799
00:35:42,360 --> 00:35:46,120
Speaker 1: in particular map outpaced inflation on average, And then there

800
00:35:46,120 --> 00:35:50,200
Speaker 1: were folks in other states who on average got beaten

801
00:35:50,280 --> 00:35:53,319
Speaker 1: up by inflation and their wages didn't keep pace. That

802
00:35:53,360 --> 00:35:56,839
Speaker 1: was Rhode Island, New Jersey, Maryland, Massachusetts, and New York

803
00:35:56,880 --> 00:36:00,000
Speaker 1: were some of the worst culprits. In some of those states,

804
00:36:00,120 --> 00:36:03,200
Speaker 1: you might feel five to seven percent poorer because yeah,

805
00:36:03,200 --> 00:36:05,600
Speaker 1: you got raises, but that's a paper raise because prices

806
00:36:05,880 --> 00:36:10,440
Speaker 1: were going up faster than your wages. I think also

807
00:36:10,520 --> 00:36:12,799
Speaker 1: that timeframe, it's hard to look at just those four

808
00:36:12,840 --> 00:36:15,839
Speaker 1: years because twenty twenty two was such such a crap show.

809
00:36:15,880 --> 00:36:19,160
Speaker 1: In regards to inflation. The overall trend appears to be

810
00:36:19,160 --> 00:36:21,799
Speaker 1: shifting as inflation is cooling, But it is also just

811
00:36:21,840 --> 00:36:24,879
Speaker 1: interesting to see and to note that where you live

812
00:36:25,239 --> 00:36:28,239
Speaker 1: matters for how much you experience inflation and how much

813
00:36:28,440 --> 00:36:29,520
Speaker 1: of a RaSE you're likely to get.

814
00:36:29,640 --> 00:36:31,799
Speaker 2: Yeah, it's fascinating to see the dichotomy between the states

815
00:36:31,840 --> 00:36:33,239
Speaker 2: that are doing well the ones that seem to be

816
00:36:33,640 --> 00:36:37,040
Speaker 2: lagging behind. And it seems like the biggest factor is growth. Right,

817
00:36:37,120 --> 00:36:40,160
Speaker 2: states with surging populations they just mean more job creation,

818
00:36:40,280 --> 00:36:43,759
Speaker 2: while states with declining populations they're gonna be a bit

819
00:36:43,760 --> 00:36:45,600
Speaker 2: more stagnant. They're not going to be able to innovate,

820
00:36:45,600 --> 00:36:48,279
Speaker 2: they're not attracting business. So of course the mix of

821
00:36:48,280 --> 00:36:52,000
Speaker 2: industries was an important factor housing that was a pretty

822
00:36:52,000 --> 00:36:55,600
Speaker 2: serious variable as well. States were more supply chem on

823
00:36:55,680 --> 00:36:58,440
Speaker 2: line of course, saw less housing inflations. It goes back

824
00:36:58,440 --> 00:37:01,240
Speaker 2: to basic economics, supply and demand. How's it ma accept

825
00:37:01,239 --> 00:37:03,799
Speaker 2: something like thirty five percent of the CPI, So it's

826
00:37:03,880 --> 00:37:06,680
Speaker 2: quite significant. This does not mean, though that if you're

827
00:37:06,680 --> 00:37:10,719
Speaker 2: listening that you should just uproot your life go rent

828
00:37:10,719 --> 00:37:13,759
Speaker 2: a U haul. But when we are talking about cost

829
00:37:13,760 --> 00:37:17,600
Speaker 2: of living, we're talking about inflation and opportunity. Where you

830
00:37:17,640 --> 00:37:20,200
Speaker 2: live impacts all of these things. And this is especially

831
00:37:20,200 --> 00:37:22,520
Speaker 2: true I think for younger folks who are in a

832
00:37:22,640 --> 00:37:25,400
Speaker 2: stage of life where they feel you might feel actually

833
00:37:25,400 --> 00:37:26,319
Speaker 2: that you are.

834
00:37:26,600 --> 00:37:28,120
Speaker 1: You do have strong ties wherever you are.

835
00:37:28,160 --> 00:37:30,239
Speaker 2: But I'm just letting you know now that as you

836
00:37:30,239 --> 00:37:33,040
Speaker 2: get older, I want to say, like every five years

837
00:37:33,120 --> 00:37:35,560
Speaker 2: or something like that, your ties to wherever you live

838
00:37:35,840 --> 00:37:37,879
Speaker 2: are probably going to like double. So, like you think

839
00:37:37,880 --> 00:37:39,239
Speaker 2: it's hard right now, it's going to be even harder

840
00:37:39,239 --> 00:37:40,600
Speaker 2: in five years, it's going to be even harder in

841
00:37:40,640 --> 00:37:43,400
Speaker 2: ten years. And if you have an opportunity to move somewhere,

842
00:37:44,280 --> 00:37:46,319
Speaker 2: given the profession that you want to pursue, given the

843
00:37:46,360 --> 00:37:48,080
Speaker 2: kind of industry that you want to get into, I

844
00:37:48,120 --> 00:37:50,880
Speaker 2: want to encourage folks to kind of take thee Joel.

845
00:37:51,320 --> 00:37:55,960
Speaker 2: Fortune favors the brave, remember, Yeah, I just want young

846
00:37:56,040 --> 00:37:59,759
Speaker 2: folks to be brave and to look long term and

847
00:37:59,800 --> 00:38:01,920
Speaker 2: the impacts that is going to have on your ability

848
00:38:01,960 --> 00:38:03,520
Speaker 2: to live the kind of life that you would have lived.

849
00:38:03,520 --> 00:38:06,040
Speaker 1: When you look to the history of the country, Americans

850
00:38:06,080 --> 00:38:10,280
Speaker 1: migrated for opportunity in far greater numbers than we do today.

851
00:38:10,560 --> 00:38:12,719
Speaker 1: And in some ways, I think that's totally fine, like

852
00:38:12,719 --> 00:38:15,279
Speaker 1: stay put. But if you're looking like if you love

853
00:38:15,320 --> 00:38:18,319
Speaker 1: your community, like you've got family close by, and you

854
00:38:18,360 --> 00:38:20,640
Speaker 1: love where you live great, like stay put, but also

855
00:38:20,880 --> 00:38:24,840
Speaker 1: know that moving for opportunity is like, uh, it's in

856
00:38:24,880 --> 00:38:28,640
Speaker 1: the American DNA and there it was. Yeah yeah, And

857
00:38:28,880 --> 00:38:30,359
Speaker 1: but we can tap into that again. And I think

858
00:38:30,360 --> 00:38:33,520
Speaker 1: for a lot of people they might find that they

859
00:38:34,280 --> 00:38:37,040
Speaker 1: find it a great new place to live that has

860
00:38:37,640 --> 00:38:40,600
Speaker 1: just more opportunity for them from a job perspective, uh,

861
00:38:40,640 --> 00:38:43,279
Speaker 1: and and from a cost of living perspective. Right. So

862
00:38:43,840 --> 00:38:45,360
Speaker 1: one way you might try and get your cost of

863
00:38:45,400 --> 00:38:48,120
Speaker 1: living down is by considering making your own electricity.

864
00:38:48,719 --> 00:38:51,600
Speaker 2: And I've made my own sourdough, Joel, but I've not

865
00:38:51,640 --> 00:38:52,640
Speaker 2: made my own electricity.

866
00:38:52,680 --> 00:38:54,399
Speaker 1: Come on, give with the times, brother, and I take

867
00:38:54,400 --> 00:38:55,920
Speaker 1: that back. We used to have this little hand crank

868
00:38:56,000 --> 00:38:58,280
Speaker 1: flashlight that we got from a kis the kids.

869
00:38:58,719 --> 00:39:00,480
Speaker 2: It was the coolest thing. I don't I wonder whatever

870
00:39:00,520 --> 00:39:02,640
Speaker 2: happened to that thing. It had like a little dino

871
00:39:03,360 --> 00:39:05,600
Speaker 2: remember that. It was like a little red flashlight that

872
00:39:05,880 --> 00:39:06,400
Speaker 2: we had.

873
00:39:06,280 --> 00:39:08,359
Speaker 1: And then you would like be pointing the light and

874
00:39:08,880 --> 00:39:10,799
Speaker 1: it would dim if you didn't crank it. It wouldn't last

875
00:39:10,880 --> 00:39:12,680
Speaker 1: very long, but it's just pretty cool. It wasn't that great.

876
00:39:12,719 --> 00:39:14,560
Speaker 1: This isn't what you're talking about them. No, I'm talking

877
00:39:14,560 --> 00:39:18,360
Speaker 1: about the DIY solar panels, and solar tax credits obviously

878
00:39:18,360 --> 00:39:22,279
Speaker 1: have disappeared. It makes getting a traditional solar system less

879
00:39:22,280 --> 00:39:25,360
Speaker 1: appealing because it's super expensive and the payoff timeframe just

880
00:39:25,400 --> 00:39:28,600
Speaker 1: went up in a big way by by installing whole

881
00:39:28,640 --> 00:39:32,319
Speaker 1: house solar. Which is why I think DIY solar is

882
00:39:32,440 --> 00:39:36,040
Speaker 1: finding having its moment because a lot of homeowners and

883
00:39:36,080 --> 00:39:38,920
Speaker 1: even renters are opting for these DIY panels that you

884
00:39:38,960 --> 00:39:42,520
Speaker 1: plug into a wall outlet, and they even have come

885
00:39:42,560 --> 00:39:45,400
Speaker 1: with like these like battery backup systems. If you know,

886
00:39:45,440 --> 00:39:48,120
Speaker 1: by bought electronics on Amazon, you probably bought something by

887
00:39:48,160 --> 00:39:50,480
Speaker 1: Anchor at one point. Anchor is one of these companies

888
00:39:50,600 --> 00:39:55,160
Speaker 1: that's making these DIY solar panel kits and you don't

889
00:39:55,160 --> 00:39:56,919
Speaker 1: have to like stick them on top of your roof,

890
00:39:57,000 --> 00:39:58,920
Speaker 1: and you can move them around and stuff like that.

891
00:39:58,920 --> 00:40:01,280
Speaker 1: I mean, I think some hume owners associations are cracking

892
00:40:01,320 --> 00:40:04,000
Speaker 1: down all these things. But the problem right now is

893
00:40:04,000 --> 00:40:06,560
Speaker 1: that most states are behind the times. They haven't made

894
00:40:06,560 --> 00:40:11,400
Speaker 1: these systems available without authorization from your utility company, so

895
00:40:11,480 --> 00:40:13,600
Speaker 1: people are just like going rogue and putting them in anyway,

896
00:40:13,960 --> 00:40:17,760
Speaker 1: California is apparently considering legislation. I think Utah has already

897
00:40:18,000 --> 00:40:22,279
Speaker 1: created friendly legislation for these and I think that legislation,

898
00:40:22,320 --> 00:40:26,120
Speaker 1: along with technological improvement on this front, would be a

899
00:40:26,120 --> 00:40:29,320
Speaker 1: game changer. And for people who want I was looking

900
00:40:29,360 --> 00:40:31,279
Speaker 1: up Matt askin chat GPT, well how much does this

901
00:40:31,400 --> 00:40:33,720
Speaker 1: likely to save me? In a multi thousand dollars system?

902
00:40:33,960 --> 00:40:36,080
Speaker 1: Still might only save you fifteen twenty bucks a month

903
00:40:36,080 --> 00:40:39,959
Speaker 1: in electricity costs, but not enough panels to generate the juice,

904
00:40:40,040 --> 00:40:42,919
Speaker 1: that's right. I mean, yeah, you're talking about small potatoes here,

905
00:40:43,000 --> 00:40:45,799
Speaker 1: but I think also for folks who are into that,

906
00:40:45,840 --> 00:40:48,239
Speaker 1: who want to be on that bleeding edge. Costs have

907
00:40:48,320 --> 00:40:52,560
Speaker 1: come down on these, and it's just something worth exploring considering.

908
00:40:52,760 --> 00:40:55,160
Speaker 2: Yeah, it seems more attainable than having to do the

909
00:40:55,200 --> 00:40:57,960
Speaker 2: giant install on the roof. It almost feels like I've

910
00:40:57,960 --> 00:41:01,120
Speaker 2: seen pictures of them and you, like said, in your backyard. Yes,

911
00:41:01,200 --> 00:41:02,880
Speaker 2: it almost makes it seem like a chicken coop. You

912
00:41:02,920 --> 00:41:04,480
Speaker 2: got it back then, next to the garden. This is

913
00:41:04,520 --> 00:41:07,600
Speaker 2: just like one more tool in the toolkit, that's right,

914
00:41:07,840 --> 00:41:09,920
Speaker 2: that helps you to live your DIY life if you're

915
00:41:09,920 --> 00:41:11,680
Speaker 2: so inclined, and I get part of it depends on

916
00:41:11,880 --> 00:41:13,319
Speaker 2: where you live, how much sun you get.

917
00:41:13,400 --> 00:41:15,920
Speaker 1: But I'd be curious to know too if any listeners

918
00:41:15,920 --> 00:41:19,360
Speaker 1: have tried out one of these DIY solar setups and

919
00:41:19,600 --> 00:41:21,480
Speaker 1: guarantee they have, how much does it say to you?

920
00:41:21,520 --> 00:41:23,520
Speaker 1: How's it doing for you? Let me know you know it, buddy.

921
00:41:23,520 --> 00:41:25,120
Speaker 2: But that's gonna be it for this Friday flight. We

922
00:41:25,120 --> 00:41:28,000
Speaker 2: hope everyone has a fantastic weekend. You can find the

923
00:41:28,080 --> 00:41:31,440
Speaker 2: stories we reference up on the website at howtomoney dot com.

924
00:41:31,920 --> 00:41:33,600
Speaker 2: And that's gonna be it, buddy.

925
00:41:33,640 --> 00:41:37,200
Speaker 1: So until next time, Best Friends Out, Best Friends Out,