1 00:00:00,120 --> 00:00:01,480 Speaker 1: Welcome to had of Money. 2 00:00:01,520 --> 00:00:05,080 Speaker 2: I'm Joel, I'm Matt, and today we're talking about rate reductions, 3 00:00:05,360 --> 00:00:28,560 Speaker 2: rich renters, and costly coffee. That coffee is costing more money, 4 00:00:28,600 --> 00:00:31,360 Speaker 2: not because you're getting the good stuff, Like, uh, you 5 00:00:31,400 --> 00:00:34,279 Speaker 2: haven't upgraded like I have yet? Have you drink? I'm 6 00:00:34,360 --> 00:00:37,760 Speaker 2: keeping my coffee habit minimal. You're trying to keep there 7 00:00:37,760 --> 00:00:40,360 Speaker 2: are certain lifestyle creep factors that you're trying to keep 8 00:00:40,400 --> 00:00:42,400 Speaker 2: in check. Your coffee game is one of them. Although 9 00:00:42,440 --> 00:00:44,760 Speaker 2: you did get that nice how's that nice brewer going? 10 00:00:44,760 --> 00:00:46,240 Speaker 2: By the way, you got like one of these faincy 11 00:00:46,760 --> 00:00:49,760 Speaker 2: automated coffee brewer things. Yes, I got a coffeemaker. There's 12 00:00:49,760 --> 00:00:51,879 Speaker 2: this bran called the mocha Master, and it's trying to 13 00:00:52,240 --> 00:00:56,440 Speaker 2: in drip coffee form mimic a pour over coffee effects, right, 14 00:00:56,480 --> 00:00:58,440 Speaker 2: does it? Because it does the bloom and everything right? 15 00:00:58,480 --> 00:00:59,760 Speaker 1: Like, Yeah, but I. 16 00:00:59,680 --> 00:01:02,279 Speaker 2: Didn't a mochamaster because those things are very expensive. Yeah, 17 00:01:02,320 --> 00:01:05,880 Speaker 2: you got the I got the off brand discounted version. Yeah, 18 00:01:05,959 --> 00:01:08,120 Speaker 2: so so mine is like the best ViBe's brand or 19 00:01:08,120 --> 00:01:10,399 Speaker 2: something's working for you though literally paid fifty bucks for it, 20 00:01:10,440 --> 00:01:13,920 Speaker 2: and which is mortally masters like two fifty or three fifty. 21 00:01:13,959 --> 00:01:16,360 Speaker 2: Oh yeah, oh really expensive. It's been great, it's been great, 22 00:01:16,400 --> 00:01:18,360 Speaker 2: So it's And the other thing was we were doing 23 00:01:18,400 --> 00:01:21,120 Speaker 2: French press, and French press just won at least too 24 00:01:21,160 --> 00:01:23,400 Speaker 2: many oils and too it takes too long. And I 25 00:01:23,640 --> 00:01:25,959 Speaker 2: like being able to press a button and get my coffee, 26 00:01:25,959 --> 00:01:27,360 Speaker 2: but I also don't want it to be like the 27 00:01:27,400 --> 00:01:29,720 Speaker 2: ten dollars mister coffee thing, So fair enough. That's it's 28 00:01:29,720 --> 00:01:31,839 Speaker 2: my middle ground that I'm willing to join. Yeah, we'll 29 00:01:31,840 --> 00:01:33,960 Speaker 2: get to coffee the rest of our coffee talk a 30 00:01:34,000 --> 00:01:36,160 Speaker 2: little bit later on. But we hope everyone is having 31 00:01:36,160 --> 00:01:38,080 Speaker 2: a good week. We hope everyone. Hey, by the way, 32 00:01:38,080 --> 00:01:40,240 Speaker 2: if you haven't listened to Wednesday's episode, man, that was 33 00:01:40,240 --> 00:01:43,039 Speaker 2: such a fun episode. I'm still thinking about that, digging 34 00:01:43,080 --> 00:01:45,720 Speaker 2: into Megan Gorman's book a little bit more All the 35 00:01:45,720 --> 00:01:47,800 Speaker 2: President's Money. It was a fun way for us to 36 00:01:47,840 --> 00:01:52,160 Speaker 2: talk about politics without talking about the politics, because. 37 00:01:51,960 --> 00:01:53,080 Speaker 1: Everyone's talking about politics. 38 00:01:53,160 --> 00:01:55,200 Speaker 2: Everyone's got their own opinion. Yes, And by the way, 39 00:01:55,280 --> 00:01:57,480 Speaker 2: just a follow up, I think last week, Matt we 40 00:01:57,560 --> 00:02:00,200 Speaker 2: mentioned something about kind of focusing on the thing you 41 00:02:00,240 --> 00:02:03,000 Speaker 2: can control, and maybe to a certain extent, we made 42 00:02:03,080 --> 00:02:06,040 Speaker 2: voting sound like a dumb idea, and I know why 43 00:02:06,040 --> 00:02:09,440 Speaker 2: you're saying this. We got some pushback from people. I 44 00:02:09,480 --> 00:02:11,280 Speaker 2: just want to say, like, we're not against voting. I'm 45 00:02:11,280 --> 00:02:13,440 Speaker 2: planning on voting, and you have actually a lot more 46 00:02:13,480 --> 00:02:15,119 Speaker 2: control in local elections. 47 00:02:15,160 --> 00:02:16,079 Speaker 1: I guess. Oh heck yeah. 48 00:02:16,080 --> 00:02:18,600 Speaker 2: What we're trying to say is maybe put it in 49 00:02:18,600 --> 00:02:20,600 Speaker 2: as proper context. And I'm glad we live in a 50 00:02:20,639 --> 00:02:23,280 Speaker 2: country where we have the freedom the ability to vote 51 00:02:23,280 --> 00:02:25,799 Speaker 2: our conscience. Heck yeah. But at the same time, I'm 52 00:02:25,840 --> 00:02:29,400 Speaker 2: not putting my hopes and dreams pinning it to any politician. 53 00:02:29,520 --> 00:02:30,120 Speaker 1: But get up there. 54 00:02:30,200 --> 00:02:32,400 Speaker 2: Yeah, you know the rock. Do they still say rock 55 00:02:32,400 --> 00:02:32,720 Speaker 2: the vote? 56 00:02:32,720 --> 00:02:35,119 Speaker 1: It was like twenty years ago. That's from the Bill 57 00:02:35,160 --> 00:02:35,760 Speaker 1: Clinton era. 58 00:02:35,919 --> 00:02:39,040 Speaker 2: Yeah, no, exercise your constitutional right to have a voice 59 00:02:39,080 --> 00:02:41,200 Speaker 2: in the politics and what happens. We are all for that. 60 00:02:41,200 --> 00:02:43,160 Speaker 2: So I'm sorry if it came across like we were 61 00:02:43,200 --> 00:02:46,120 Speaker 2: being completely dismissed above it. We were just saying trying 62 00:02:46,120 --> 00:02:48,920 Speaker 2: to say to focus more, at least on the things 63 00:02:48,919 --> 00:02:51,040 Speaker 2: you can't control. Fair enough, All right, let's get to 64 00:02:51,120 --> 00:02:52,840 Speaker 2: the Friday flight. And by the way, the reason we 65 00:02:52,880 --> 00:02:54,320 Speaker 2: call it the Friday flight is because when you get 66 00:02:54,320 --> 00:02:56,920 Speaker 2: to a brewery you can get a flight of beers, 67 00:02:56,960 --> 00:02:58,880 Speaker 2: a nice little sampling. That way, you don't have to 68 00:02:58,880 --> 00:03:01,360 Speaker 2: fully commit to one single beer. And that's what we 69 00:03:01,400 --> 00:03:03,080 Speaker 2: try to do with the financial stories that we've come 70 00:03:03,120 --> 00:03:06,440 Speaker 2: across this week and how they pertain to your personal finances. 71 00:03:06,440 --> 00:03:11,000 Speaker 2: But let's talk about Jerome Powell Joel. Because the hotly 72 00:03:11,080 --> 00:03:14,959 Speaker 2: demated moment, the anticipated FED rate cut, it finally happened. 73 00:03:15,360 --> 00:03:18,080 Speaker 2: They cut rates for the first time in many years 74 00:03:18,120 --> 00:03:21,680 Speaker 2: by half a point fifty basis points, which is more 75 00:03:21,880 --> 00:03:24,800 Speaker 2: than a lot of folks had anticipated. It's more than 76 00:03:24,840 --> 00:03:28,600 Speaker 2: I was expecting in an attempt to prevent an economic slowdown. 77 00:03:28,960 --> 00:03:33,079 Speaker 2: And this move it's going to negatively impact savers and 78 00:03:33,160 --> 00:03:36,520 Speaker 2: positively impact folks who have credit card debt, for instance, 79 00:03:36,880 --> 00:03:40,600 Speaker 2: although minimally. But as the journal put it, the era 80 00:03:40,680 --> 00:03:43,600 Speaker 2: of earning easy five percent returns on your cash is 81 00:03:43,720 --> 00:03:48,320 Speaker 2: ending slowly. Is not going to happen overnight, folks. But 82 00:03:48,520 --> 00:03:52,320 Speaker 2: this most recent FED move it could also be the 83 00:03:52,360 --> 00:03:56,280 Speaker 2: start of continuing rate cuts, which would make the impact 84 00:03:56,320 --> 00:04:00,520 Speaker 2: more significant over time, but that just remains to be seen. Historically, 85 00:04:00,520 --> 00:04:02,600 Speaker 2: that's what happens when the first rate cut begins, the 86 00:04:02,600 --> 00:04:04,960 Speaker 2: downward path continues. It's not one and done. That's just 87 00:04:05,080 --> 00:04:08,480 Speaker 2: not how it works, at least historically. Again, we who 88 00:04:08,520 --> 00:04:10,640 Speaker 2: knows so, especially with inflation, and we'll be paying attention 89 00:04:10,680 --> 00:04:12,720 Speaker 2: to those numbers. But you're right, you said in preventing 90 00:04:12,720 --> 00:04:14,760 Speaker 2: an economic slowdown, Matt, and I think the Fed has this. 91 00:04:15,000 --> 00:04:17,480 Speaker 2: They have this dual mandate right to pay attention to 92 00:04:18,279 --> 00:04:20,520 Speaker 2: inflation but also to pay attention to the labor market. 93 00:04:20,560 --> 00:04:23,080 Speaker 2: And they're seeing signs of softness in the labor market 94 00:04:23,080 --> 00:04:24,800 Speaker 2: and that was I think a big part of the 95 00:04:24,839 --> 00:04:27,640 Speaker 2: reason for this rate cut, and for a bigger rate 96 00:04:27,640 --> 00:04:30,440 Speaker 2: cut than many had predicted in this rate cut. And 97 00:04:30,520 --> 00:04:33,200 Speaker 2: future rate cuts are going to impact savers, are going 98 00:04:33,240 --> 00:04:36,400 Speaker 2: to impact borrowers, are going to impact investors. But I 99 00:04:36,400 --> 00:04:39,200 Speaker 2: think you're right to say too that slowly and how 100 00:04:39,279 --> 00:04:41,599 Speaker 2: much we don't quite know yet. But if you have 101 00:04:41,600 --> 00:04:43,520 Speaker 2: a credit card debt, if you have a home equity 102 00:04:43,520 --> 00:04:45,920 Speaker 2: line of credit, pretty soon you're going to likely see 103 00:04:45,960 --> 00:04:48,159 Speaker 2: those rates start to tick down. If you're borrowing to 104 00:04:48,200 --> 00:04:51,000 Speaker 2: buy a car, you've taken on an auto loan, you 105 00:04:51,080 --> 00:04:53,520 Speaker 2: might see rates ticked down there too. When it comes 106 00:04:53,560 --> 00:04:55,159 Speaker 2: to mortgage rates, well, what's going to happen there? I 107 00:04:55,160 --> 00:04:57,560 Speaker 2: wouldn't say that this is an excuse to take out 108 00:04:57,680 --> 00:05:00,280 Speaker 2: more loads of That's not what you're say. No, no, no, no, 109 00:05:00,560 --> 00:05:01,960 Speaker 2: I'm just saying like that that the reality on the 110 00:05:02,000 --> 00:05:05,120 Speaker 2: ground is going to get cheaper to borrow, and sadly 111 00:05:05,560 --> 00:05:08,160 Speaker 2: savers are going to get a small gut punch too. 112 00:05:08,440 --> 00:05:10,360 Speaker 2: It's been like kind of nice for savers to earn 113 00:05:10,560 --> 00:05:13,720 Speaker 2: reasonable returns and those returns might start to get less 114 00:05:13,760 --> 00:05:17,120 Speaker 2: reasonable in the near future. And basically, like your debt, 115 00:05:17,520 --> 00:05:21,080 Speaker 2: still even an environment of declining rates is still worth 116 00:05:21,120 --> 00:05:23,960 Speaker 2: paying off quickly. So if you've got credit card debt 117 00:05:24,000 --> 00:05:26,320 Speaker 2: and you're like, ah, it's instead of twenty two percent, 118 00:05:26,360 --> 00:05:28,599 Speaker 2: it's now twenty one and a half percent, that doesn't 119 00:05:28,600 --> 00:05:30,400 Speaker 2: make it good. It's still awful and you still want 120 00:05:30,400 --> 00:05:30,800 Speaker 2: to be rid of. 121 00:05:30,800 --> 00:05:31,760 Speaker 1: It as quickly as you can. 122 00:05:31,880 --> 00:05:34,560 Speaker 2: Unlike mortgage rates, right, so what we're not saying is 123 00:05:34,560 --> 00:05:37,600 Speaker 2: to pay down your thirty year three percent mortgage. But 124 00:05:37,640 --> 00:05:40,920 Speaker 2: this does bring up another question that comes up when 125 00:05:41,000 --> 00:05:43,240 Speaker 2: rates start to head down, and that is what is 126 00:05:43,320 --> 00:05:45,919 Speaker 2: going to happen with mortgage mortgage rates? What is the 127 00:05:45,960 --> 00:05:49,080 Speaker 2: future of home ownership and your you know what you're 128 00:05:49,120 --> 00:05:51,680 Speaker 2: paying to the bank. Who is servicing your loan has 129 00:05:51,680 --> 00:05:55,080 Speaker 2: a big impact on affordability, and they've already come down 130 00:05:55,279 --> 00:05:59,599 Speaker 2: quite a bit, I think in anticipation of these rate cuts, honestly, 131 00:06:00,240 --> 00:06:02,520 Speaker 2: to see if mortge rates continue to drop, because I 132 00:06:02,520 --> 00:06:04,880 Speaker 2: feel like they started taking down because all the banks 133 00:06:04,960 --> 00:06:07,839 Speaker 2: knew that this rate cut was coming. It had been 134 00:06:08,040 --> 00:06:11,560 Speaker 2: widely expected, it was broadcasted. Yes, yes, yeah, and so 135 00:06:11,720 --> 00:06:14,200 Speaker 2: because of that, mortgage rates don't follow exactly the Fed 136 00:06:14,240 --> 00:06:16,160 Speaker 2: Funds rate. There are a lot more factors involved in 137 00:06:16,240 --> 00:06:16,960 Speaker 2: sending mortgage rates. 138 00:06:17,000 --> 00:06:17,120 Speaker 1: Yeh. 139 00:06:17,160 --> 00:06:19,440 Speaker 2: Yeah, they're not directly tied. They're not going to see 140 00:06:19,480 --> 00:06:22,400 Speaker 2: in immediate drop. They don't move in tandem with the 141 00:06:22,400 --> 00:06:25,400 Speaker 2: Federal funds rate. It's simply an ingredient that goes into 142 00:06:25,400 --> 00:06:28,120 Speaker 2: the larger product. Yeah, right, Like it's a major ingredient. 143 00:06:28,160 --> 00:06:30,440 Speaker 2: It's like coke, right, and you're thinking, oh, well, i'm 144 00:06:30,600 --> 00:06:32,680 Speaker 2: drinking coke. I'm just drinking coke, right, And you're like, well, 145 00:06:32,839 --> 00:06:36,120 Speaker 2: take a look at the ingredients list. It's mostly carbonated water, yes, 146 00:06:36,160 --> 00:06:38,240 Speaker 2: but there's also some other stuff in there, like high fruit. 147 00:06:38,279 --> 00:06:42,080 Speaker 2: It's corn syrup, caffeine, caramel, color. Those things have an 148 00:06:42,080 --> 00:06:43,919 Speaker 2: impact on the overall coke as well. It's not just 149 00:06:43,960 --> 00:06:47,960 Speaker 2: the carbonated water. But speaking of buying, renting, it might 150 00:06:48,040 --> 00:06:50,280 Speaker 2: be better no matter how much money you have. The 151 00:06:50,360 --> 00:06:53,480 Speaker 2: Journal they actually had an article about really wealthy folks 152 00:06:53,560 --> 00:06:55,839 Speaker 2: who could easily afford to buy a home but who 153 00:06:55,920 --> 00:06:58,960 Speaker 2: are instead opting to rent, and the reason is because 154 00:06:58,960 --> 00:07:02,359 Speaker 2: there aren't enough homes on the market that they're interested in. Granted, 155 00:07:02,720 --> 00:07:04,400 Speaker 2: a big part of this article is focusing on some 156 00:07:04,920 --> 00:07:08,279 Speaker 2: ultra rich folks like this one guy's paying nineteen thousand 157 00:07:08,320 --> 00:07:12,040 Speaker 2: dollars a month for his super swinky apartment in Manhattan. 158 00:07:12,080 --> 00:07:16,280 Speaker 2: That sounds reasonable, seems totally relatable, But the truth is 159 00:07:16,320 --> 00:07:19,240 Speaker 2: renting is cheaper in today's housing environment in almost every 160 00:07:19,280 --> 00:07:22,120 Speaker 2: single one of the top fifty metro areas. It's not 161 00:07:22,160 --> 00:07:24,640 Speaker 2: always an easy choice. And I think the rent versus 162 00:07:24,640 --> 00:07:27,240 Speaker 2: by decision it's going to look different for everyone, but 163 00:07:27,520 --> 00:07:30,280 Speaker 2: certainly something to consider. Yeah, and I do think that 164 00:07:30,360 --> 00:07:32,760 Speaker 2: with rates coming down, it is going to cause some 165 00:07:32,800 --> 00:07:34,680 Speaker 2: of those folks Matt who are on the sidelines. They're like, 166 00:07:34,720 --> 00:07:36,600 Speaker 2: I want to buy a house, but seven and a 167 00:07:36,640 --> 00:07:40,320 Speaker 2: half plus percent interest rates and plus the what's going 168 00:07:40,400 --> 00:07:43,440 Speaker 2: on with housing prices, that's got to be priced out. 169 00:07:43,600 --> 00:07:46,320 Speaker 2: But if we're talking about more six percent interest rates. 170 00:07:46,520 --> 00:07:49,440 Speaker 2: That might cause some more sellers to join in, and 171 00:07:49,480 --> 00:07:52,640 Speaker 2: that might cause more buyers to have their interest peak too. 172 00:07:53,000 --> 00:07:53,640 Speaker 1: So I think that's good. 173 00:07:53,640 --> 00:07:55,840 Speaker 2: I think we might see more fluidity in the housing market. 174 00:07:55,840 --> 00:07:57,720 Speaker 2: It doesn't mean prices are coming down, but I think 175 00:07:57,720 --> 00:07:59,720 Speaker 2: affordability might get a little bit better. And there certainly 176 00:07:59,720 --> 00:08:02,440 Speaker 2: are going to be more options for folks. Yeah, more movement. Right, 177 00:08:02,560 --> 00:08:04,440 Speaker 2: let's talk about if you're going to get a mortgage. 178 00:08:04,440 --> 00:08:08,239 Speaker 2: What about getting a fifteen year mortgage? Well, Kiplinger says 179 00:08:08,680 --> 00:08:11,280 Speaker 2: more people should be considering one. I would say not 180 00:08:11,280 --> 00:08:14,480 Speaker 2: so fast, Kiplinger. But what they note in this article 181 00:08:14,800 --> 00:08:15,840 Speaker 2: is that you're going to be able to pay off 182 00:08:15,880 --> 00:08:19,960 Speaker 2: your home sooner duh, fifteen or fifteen years sooner. We 183 00:08:20,400 --> 00:08:22,400 Speaker 2: agree with that assessment, and that you're going to pay 184 00:08:22,440 --> 00:08:26,160 Speaker 2: less and overall interest, which is also true, but that 185 00:08:26,520 --> 00:08:29,600 Speaker 2: much larger mortgage payment could prevent you from attacking some 186 00:08:29,720 --> 00:08:33,520 Speaker 2: other really important financial goals. So we're not completely against 187 00:08:33,760 --> 00:08:36,679 Speaker 2: fifteen year home loans. And actually, when you look at 188 00:08:36,720 --> 00:08:39,040 Speaker 2: the spread on fifteen year mortgages Matt versus what you 189 00:08:39,160 --> 00:08:42,240 Speaker 2: pay interest right wise getting out taking out a thirty 190 00:08:42,280 --> 00:08:45,400 Speaker 2: year mortgage, the gap has grown, and fifteen year mortgages 191 00:08:45,640 --> 00:08:48,800 Speaker 2: have looked better in recent months in comparison to their 192 00:08:48,840 --> 00:08:51,200 Speaker 2: thirty year counterparts. And if you hate home dat, I 193 00:08:51,200 --> 00:08:54,360 Speaker 2: guess and you can afford it, I would consider going 194 00:08:54,400 --> 00:08:56,720 Speaker 2: this route. At least for some folks it might make 195 00:08:56,720 --> 00:08:58,640 Speaker 2: the most sense because it forces them to do the 196 00:08:58,679 --> 00:09:01,360 Speaker 2: right thing. But you can always choose to pay more 197 00:09:01,360 --> 00:09:03,920 Speaker 2: on a thirty year mortgage. And it's also important to 198 00:09:03,960 --> 00:09:06,439 Speaker 2: mention that if you if taking out a shorter mortgage 199 00:09:06,720 --> 00:09:09,800 Speaker 2: means foregoing let's say, contributing to or maxing out your 200 00:09:09,840 --> 00:09:13,679 Speaker 2: roth IRA, if it means not having a solid emergency fund, 201 00:09:13,800 --> 00:09:16,480 Speaker 2: if it means not investing for your future in ways 202 00:09:16,520 --> 00:09:19,200 Speaker 2: you otherwise would, it's not worth the trade off. But 203 00:09:19,240 --> 00:09:22,320 Speaker 2: if it prevents you, I guess, from doing sillier things 204 00:09:22,400 --> 00:09:25,600 Speaker 2: or not as intentional things with your money, then maybe 205 00:09:25,600 --> 00:09:27,800 Speaker 2: the fifteen year mortgage is the right thing for you. 206 00:09:28,000 --> 00:09:31,400 Speaker 2: That's right, Okay. We talked last week about rapidly growing 207 00:09:31,559 --> 00:09:33,360 Speaker 2: four to one K accounts, which we. 208 00:09:33,559 --> 00:09:34,520 Speaker 1: Love to see. 209 00:09:35,040 --> 00:09:38,640 Speaker 2: Well, guess what, five twenty nine plans have surpassed the 210 00:09:38,679 --> 00:09:42,880 Speaker 2: cool milestone as well, five hundred billion dollars in total assets, 211 00:09:43,080 --> 00:09:48,600 Speaker 2: woo Que, the streamers, and the wish I cant. Essentially, 212 00:09:48,640 --> 00:09:51,240 Speaker 2: the word is getting out about five twenty nine's and 213 00:09:51,320 --> 00:09:54,199 Speaker 2: as they've become more flexible, they're drawing more interest as 214 00:09:54,200 --> 00:09:57,200 Speaker 2: well as more dollars from parents around the country. So 215 00:09:57,679 --> 00:10:01,080 Speaker 2: it's worth addressing. Is this good news? What we would say? 216 00:10:01,400 --> 00:10:01,840 Speaker 1: Kind of. 217 00:10:02,400 --> 00:10:04,600 Speaker 2: I'm certainly glad that five twenty nine accounts are making 218 00:10:04,640 --> 00:10:09,080 Speaker 2: the headlines and the future wroth conversion possibilities. They certainly 219 00:10:09,120 --> 00:10:11,800 Speaker 2: do make five twenty nine funds more attractive, right. I 220 00:10:11,800 --> 00:10:13,559 Speaker 2: think that's what was keeping a lot of people on 221 00:10:13,600 --> 00:10:16,000 Speaker 2: the sidelines. They were afraid of their dollars getting locked 222 00:10:16,080 --> 00:10:18,760 Speaker 2: up and they didn't want to overfund those accounts. It's 223 00:10:18,800 --> 00:10:21,760 Speaker 2: like they were too the accounts were too inflexible, and 224 00:10:21,800 --> 00:10:23,440 Speaker 2: so people are too origid. I just don't know if 225 00:10:23,440 --> 00:10:25,000 Speaker 2: I want to lock my money up into that, And 226 00:10:25,040 --> 00:10:28,680 Speaker 2: that was completely understandable, totally yeah, and Kiplinger they also 227 00:10:28,720 --> 00:10:31,040 Speaker 2: noted another reason too, they think was because of the 228 00:10:31,080 --> 00:10:34,560 Speaker 2: fact there's a new grandparent loophole that was put into 229 00:10:34,559 --> 00:10:36,920 Speaker 2: place for the twenty four twenty twenty four twenty twenty 230 00:10:36,920 --> 00:10:39,920 Speaker 2: five school year, which is pretty stink and cool. Maybe 231 00:10:40,080 --> 00:10:42,920 Speaker 2: some listener will hear this and send in a listener question. 232 00:10:42,960 --> 00:10:45,280 Speaker 2: We can talk about this in depth a little bit more, 233 00:10:45,280 --> 00:10:47,559 Speaker 2: but it basically makes it to where you don't have 234 00:10:47,600 --> 00:10:50,040 Speaker 2: to report that on the FAFSA. So that being said, 235 00:10:50,080 --> 00:10:51,920 Speaker 2: it seems like this is only a good thing, right, 236 00:10:52,080 --> 00:10:54,240 Speaker 2: But on the other side of the coin five point 237 00:10:54,400 --> 00:10:56,280 Speaker 2: nine accounts, they really only make sense for folks who 238 00:10:56,360 --> 00:10:59,240 Speaker 2: are completely crushing it when it comes to their own 239 00:10:59,360 --> 00:11:02,760 Speaker 2: retirement accounts. First, if you are not doing that, we 240 00:11:02,800 --> 00:11:04,680 Speaker 2: want to make sure that folks are focusing on that 241 00:11:05,120 --> 00:11:08,480 Speaker 2: before you start to invest for your child's future education needs. 242 00:11:08,480 --> 00:11:11,360 Speaker 2: It's almost as if, like imagine a world where something 243 00:11:11,400 --> 00:11:14,320 Speaker 2: there is a new tweak, a modification to the roth 244 00:11:14,360 --> 00:11:16,719 Speaker 2: IRA and it just made it more attractive. I think 245 00:11:16,720 --> 00:11:19,400 Speaker 2: we would see a similar impact on the amount of 246 00:11:19,440 --> 00:11:22,280 Speaker 2: money going into roth IRA's, Yeah, because it just makes 247 00:11:22,320 --> 00:11:24,800 Speaker 2: the headlines, and anytime something is featured, I think it 248 00:11:24,880 --> 00:11:27,439 Speaker 2: draws more eyeballs, it draws more money into those accounts, 249 00:11:27,480 --> 00:11:30,200 Speaker 2: and we kind of see them swell a little bit. Yeah, 250 00:11:30,200 --> 00:11:31,800 Speaker 2: and we're not anti five twenty nine, but what we're 251 00:11:31,800 --> 00:11:33,400 Speaker 2: saying I guess is I got four of them set 252 00:11:33,480 --> 00:11:36,800 Speaker 2: up for my kids. Same, except I only have three kids. 253 00:11:37,679 --> 00:11:39,439 Speaker 2: But yeah, you don't want to get the cart before 254 00:11:39,520 --> 00:11:42,160 Speaker 2: the horse. And the truth is, like it's it's a 255 00:11:42,160 --> 00:11:44,560 Speaker 2: solid cart, like it's well built, but if you put 256 00:11:44,559 --> 00:11:47,599 Speaker 2: it before the horse, you're not going to get the 257 00:11:47,640 --> 00:11:49,679 Speaker 2: movement that you want. And so yeah, make sure that 258 00:11:49,720 --> 00:11:54,560 Speaker 2: you're looking after your own retirement accounts first, hopefully getting 259 00:11:54,720 --> 00:11:56,760 Speaker 2: closer to the point of maximos things out before you 260 00:11:56,760 --> 00:11:58,920 Speaker 2: really delve into that amount of just seen too many 261 00:11:58,920 --> 00:12:02,440 Speaker 2: folks barely getting the match from their employer nothing else. 262 00:12:02,480 --> 00:12:04,440 Speaker 2: Five to twenty nine plan is next on the agenda, 263 00:12:04,640 --> 00:12:06,959 Speaker 2: and that's too soon, Like you want to wait till 264 00:12:07,080 --> 00:12:09,680 Speaker 2: you've got a better game plan with your own retirement 265 00:12:09,679 --> 00:12:14,040 Speaker 2: accounts before you jump into that the five twenty nine investing. Okay, 266 00:12:14,040 --> 00:12:16,720 Speaker 2: speaking of kids, should you pay your kids to read? 267 00:12:17,000 --> 00:12:19,240 Speaker 2: I found this really interesting story in the New York 268 00:12:19,240 --> 00:12:20,959 Speaker 2: Times match. I don't know, are you paying your kids 269 00:12:21,000 --> 00:12:23,199 Speaker 2: money to read books? No? They do it of their 270 00:12:23,200 --> 00:12:26,080 Speaker 2: own volition. Yeah, all right, let's because you have really 271 00:12:26,080 --> 00:12:30,480 Speaker 2: great kids. And in my oldest she's like Belle and 272 00:12:30,480 --> 00:12:31,920 Speaker 2: Beauty and the Beasts, like walking around with a book 273 00:12:31,920 --> 00:12:34,440 Speaker 2: interface all the time, which I think is amazing. This 274 00:12:34,480 --> 00:12:36,280 Speaker 2: probably could have been the ludicrous headline of the week, 275 00:12:36,320 --> 00:12:38,800 Speaker 2: but the New York Times had an article and it 276 00:12:38,840 --> 00:12:41,560 Speaker 2: was written my parent who was saying that she paid 277 00:12:41,600 --> 00:12:44,880 Speaker 2: her kid one hundred bucks to read a book. That's 278 00:12:44,880 --> 00:12:46,280 Speaker 2: a lot of money. It is a lot of money. 279 00:12:46,280 --> 00:12:48,360 Speaker 2: I was like, one hundred dollars, that's crazy. She admits 280 00:12:48,360 --> 00:12:50,200 Speaker 2: that it was like this ploy of last resort and 281 00:12:50,200 --> 00:12:53,439 Speaker 2: that the conversation, yes, it's incredibly high, but that her 282 00:12:53,480 --> 00:12:56,520 Speaker 2: plan has actually worked. It's open the floodgates, causing her 283 00:12:56,600 --> 00:12:59,280 Speaker 2: her twelve year old daughter to start reading more regularly. 284 00:12:59,600 --> 00:13:01,160 Speaker 1: And I, I guess, I don't know. 285 00:13:01,200 --> 00:13:03,760 Speaker 2: I feel multiple ways about this, Like the parent, she's 286 00:13:03,960 --> 00:13:06,400 Speaker 2: trying to get her daughter to love reading. But I 287 00:13:06,440 --> 00:13:07,880 Speaker 2: want your opinion. Do you think she did the right 288 00:13:07,920 --> 00:13:11,120 Speaker 2: thing there? She's trying to provide it by incentivizing. So 289 00:13:11,320 --> 00:13:13,080 Speaker 2: she is she doing this with every single book or 290 00:13:13,120 --> 00:13:14,440 Speaker 2: is it just one book? No, so it was the 291 00:13:14,480 --> 00:13:17,199 Speaker 2: first book and hopes that would kind of lead to Okay, 292 00:13:17,240 --> 00:13:19,640 Speaker 2: I'm fine with that more perpetual reading. Well, it makes 293 00:13:19,679 --> 00:13:21,200 Speaker 2: me think back to when I was a kid in school. 294 00:13:21,240 --> 00:13:24,160 Speaker 2: We had this thing called accelerated reader, and I can't 295 00:13:24,200 --> 00:13:26,280 Speaker 2: remember if it was after every book that you read, 296 00:13:26,679 --> 00:13:29,480 Speaker 2: or maybe when you accumulated a certain number of points 297 00:13:29,559 --> 00:13:30,120 Speaker 2: or something like that. 298 00:13:30,160 --> 00:13:30,840 Speaker 1: But there's I. 299 00:13:30,840 --> 00:13:33,320 Speaker 2: Feel like there's like a pizza party involved in the class. 300 00:13:33,800 --> 00:13:35,880 Speaker 2: I recall us getting these vouchers for like a personal 301 00:13:35,880 --> 00:13:37,880 Speaker 2: pain pizza, Yes, at Pizza Hut. 302 00:13:37,960 --> 00:13:38,680 Speaker 1: I remember that too. 303 00:13:38,880 --> 00:13:40,560 Speaker 2: How did they not go bankrupt because there are so 304 00:13:40,600 --> 00:13:43,920 Speaker 2: many kids, Just think about one single school. That can't 305 00:13:43,920 --> 00:13:45,960 Speaker 2: be right. They weren't handing those out after every book 306 00:13:46,000 --> 00:13:46,600 Speaker 2: you read, not. 307 00:13:46,640 --> 00:13:47,719 Speaker 1: Every book, but I think it was. 308 00:13:47,880 --> 00:13:49,520 Speaker 2: It was like a summer reading program maybe and you 309 00:13:49,559 --> 00:13:50,959 Speaker 2: read a certain number and then you get the free 310 00:13:50,960 --> 00:13:53,440 Speaker 2: personal bank or sometimes you get tickets to like a 311 00:13:53,480 --> 00:13:57,560 Speaker 2: baseball game or something like that where I go. But 312 00:13:57,960 --> 00:14:01,160 Speaker 2: I remember the Pizza Hut coupons though, Yeah, stockpiling those 313 00:14:01,160 --> 00:14:03,520 Speaker 2: bad boys. But yeah, so I think I'm fine with that. 314 00:14:03,559 --> 00:14:06,199 Speaker 2: I'm fine incentivizing kids to do the things you want 315 00:14:06,200 --> 00:14:09,360 Speaker 2: them to do. It's unfortunate I guess that more kids 316 00:14:09,400 --> 00:14:11,880 Speaker 2: aren't naturally reading, But it's because I think this is more. 317 00:14:12,120 --> 00:14:14,520 Speaker 2: This is less money and more like social issues or whatever. 318 00:14:14,559 --> 00:14:16,920 Speaker 2: But there's just other flashier things that they're drawn to, 319 00:14:17,120 --> 00:14:21,320 Speaker 2: like video games, movies, TV, social media, right, like, there 320 00:14:21,320 --> 00:14:23,920 Speaker 2: are all these other things as opposed to finding ways 321 00:14:23,920 --> 00:14:27,480 Speaker 2: to elevate reading. And I mean our kids, they really 322 00:14:27,480 --> 00:14:29,520 Speaker 2: do love reading. And I think it's in part because 323 00:14:29,520 --> 00:14:31,800 Speaker 2: we have pursued it as a family. Like I mean 324 00:14:31,840 --> 00:14:33,640 Speaker 2: I try to read, like at dinner every night, like 325 00:14:33,680 --> 00:14:36,000 Speaker 2: ten to twenty minutes. I eat faster than the kids 326 00:14:36,040 --> 00:14:37,880 Speaker 2: do and they're still eating and Kate and I are just 327 00:14:37,880 --> 00:14:40,480 Speaker 2: like looking at each other, so like we've been doing 328 00:14:40,520 --> 00:14:42,080 Speaker 2: this for years now, but we read as a family. 329 00:14:42,280 --> 00:14:45,720 Speaker 2: Right now, we're doing Wing feather Saga is like the 330 00:14:45,760 --> 00:14:47,600 Speaker 2: series that we're going through right now. But the kids 331 00:14:47,680 --> 00:14:49,840 Speaker 2: love it. I have literally said to them before, Hey, 332 00:14:50,520 --> 00:14:53,680 Speaker 2: if you disobey mommy again, we're gonna take away your 333 00:14:53,680 --> 00:14:56,840 Speaker 2: new library books. Yeah, like as a punishment, because that's 334 00:14:56,840 --> 00:14:59,440 Speaker 2: something that they enjoy doing so much. But I think 335 00:14:59,440 --> 00:15:02,160 Speaker 2: there are ways that we can elevate it throughout their lives, 336 00:15:02,200 --> 00:15:05,280 Speaker 2: as opposed to just having the expensive sort of carrot 337 00:15:05,320 --> 00:15:06,800 Speaker 2: at the end of the stick, you know. Yeah, and 338 00:15:07,040 --> 00:15:08,440 Speaker 2: if you're trying to do that with every book, that 339 00:15:08,560 --> 00:15:10,880 Speaker 2: get expensive real real quick. Sure, But I think that 340 00:15:11,000 --> 00:15:13,200 Speaker 2: the one time thing and trying to incentivize something to 341 00:15:13,240 --> 00:15:15,280 Speaker 2: try to build a habit that's one piece of the 342 00:15:15,280 --> 00:15:17,520 Speaker 2: puzzle maybe, and trying to help build that habit. It 343 00:15:17,520 --> 00:15:20,480 Speaker 2: makes me think, though, I like, I bribe my daughter. 344 00:15:20,800 --> 00:15:23,200 Speaker 2: I give her a free book, I'll buy her book. 345 00:15:23,240 --> 00:15:25,120 Speaker 2: It's a use book if she gets a hundred on 346 00:15:25,160 --> 00:15:26,920 Speaker 2: her spelling test. And so we work our butts off 347 00:15:27,120 --> 00:15:28,840 Speaker 2: to try to get a hundred on the spelling test 348 00:15:28,880 --> 00:15:30,960 Speaker 2: every week. And so that is a bribe of sorts, 349 00:15:31,200 --> 00:15:31,960 Speaker 2: but it's a bribe. 350 00:15:32,000 --> 00:15:32,280 Speaker 1: Also. 351 00:15:32,520 --> 00:15:34,600 Speaker 2: The incentivizes are not only to do well in spelling, 352 00:15:34,640 --> 00:15:37,240 Speaker 2: but to keep reading. So and I'm not even opposed 353 00:15:37,240 --> 00:15:39,400 Speaker 2: to just the pure cash bribe as well, just to 354 00:15:39,480 --> 00:15:41,720 Speaker 2: kind of like get the ball rolling, you know. It's 355 00:15:41,720 --> 00:15:44,840 Speaker 2: like like there needs to be an initial behavior change element. 356 00:15:45,000 --> 00:15:45,800 Speaker 1: Yeah, and play. Well. 357 00:15:45,840 --> 00:15:48,400 Speaker 2: The truth is we're human. And so if someone asked 358 00:15:48,400 --> 00:15:50,160 Speaker 2: me to stop doing a bad habit and I was like, 359 00:15:50,280 --> 00:15:51,720 Speaker 2: what's in it for me? And they were going to 360 00:15:51,760 --> 00:15:53,680 Speaker 2: pay me money to do it, I would breathe really 361 00:15:54,000 --> 00:15:56,040 Speaker 2: would my ears a perk up. I'd be interested. So 362 00:15:56,600 --> 00:15:59,040 Speaker 2: at first I think I revolted against the story. I 363 00:15:59,080 --> 00:16:01,600 Speaker 2: was like, that seems weird. At first, You're being judgmental. Yeah, 364 00:16:01,600 --> 00:16:03,120 Speaker 2: the more I thought about it, I was like, actually 365 00:16:03,240 --> 00:16:05,960 Speaker 2: that might make sense fair enough, Yeah, and kids respond 366 00:16:06,000 --> 00:16:07,680 Speaker 2: to those incentives or We've got more to get to 367 00:16:07,800 --> 00:16:10,080 Speaker 2: on this episode. And clear we're we're talking about expensive 368 00:16:10,200 --> 00:16:21,040 Speaker 2: mental health. We'll get to that and more right after this, Right, Joel, 369 00:16:21,080 --> 00:16:22,960 Speaker 2: we are back from the break and guess what it is? 370 00:16:23,040 --> 00:16:25,680 Speaker 2: Time now for the ludicrous headline of the week. This 371 00:16:25,840 --> 00:16:29,360 Speaker 2: one is from WBZ. This is a local more of 372 00:16:29,400 --> 00:16:32,880 Speaker 2: a local story, I guess WBZ in Boston. Listener Gary 373 00:16:33,040 --> 00:16:35,160 Speaker 2: sent this one our away. Thank you, Gary, and the 374 00:16:35,160 --> 00:16:39,200 Speaker 2: headline reads, fight over seventy thousand dollars engagement ring heads 375 00:16:39,200 --> 00:16:42,320 Speaker 2: to State Supreme Court. Sounds like there's some drama involved 376 00:16:42,320 --> 00:16:44,720 Speaker 2: in this one. Yeah, some relational drama. First of all, 377 00:16:45,040 --> 00:16:48,080 Speaker 2: that's one heck of an expensive engagement ring. Is it 378 00:16:48,160 --> 00:16:50,480 Speaker 2: still three months salary? Joel, you and I have said, 379 00:16:50,640 --> 00:16:52,240 Speaker 2: I don't know that we've demnked that a little bit. 380 00:16:52,320 --> 00:16:56,200 Speaker 2: But if that's what you're assuming, this guy's doing quite well. 381 00:16:56,280 --> 00:16:58,720 Speaker 2: He's a baller if that's the case. But the crux 382 00:16:59,120 --> 00:17:02,120 Speaker 2: of this issue of the story is whether an engagement 383 00:17:02,240 --> 00:17:05,760 Speaker 2: ring is a conditional or unconditional gift? Is it a 384 00:17:05,880 --> 00:17:07,960 Speaker 2: nice present? That the recipient gets to keep no matter what, 385 00:17:08,119 --> 00:17:10,399 Speaker 2: or is it more along the lines of, Hey, if 386 00:17:10,400 --> 00:17:14,240 Speaker 2: we don't get married, I'm expecting that ring back. Personally, Joel, 387 00:17:14,440 --> 00:17:18,040 Speaker 2: I'm kind of that thinking. It's called an engagement ring, right, 388 00:17:18,080 --> 00:17:20,840 Speaker 2: and so plus I can like picture that in movies, right, 389 00:17:20,920 --> 00:17:23,280 Speaker 2: like if you call off the engagement, she like takes 390 00:17:23,280 --> 00:17:25,159 Speaker 2: off the ring, hands it back. It's sometimes throws it 391 00:17:25,160 --> 00:17:27,199 Speaker 2: at his face, depending on what he's depending on what 392 00:17:27,280 --> 00:17:29,960 Speaker 2: movie that you're watching. But uh, yeah, what do you think. 393 00:17:30,000 --> 00:17:32,359 Speaker 2: I think if yeah, if you got someone an engagement present, 394 00:17:32,600 --> 00:17:34,159 Speaker 2: like a Oh I get you a purse because I 395 00:17:34,200 --> 00:17:36,200 Speaker 2: love you, or I got you a suit jacket because 396 00:17:36,200 --> 00:17:38,200 Speaker 2: I love you, whatever it is, that's that's cool, keep 397 00:17:38,200 --> 00:17:40,320 Speaker 2: that thing. But the engagement ring does feel a little different. 398 00:17:40,359 --> 00:17:43,199 Speaker 2: Although state laws around the country, as I looked into this, 399 00:17:43,600 --> 00:17:45,840 Speaker 2: they're all different. He didn't do this, yeah, they Oh, 400 00:17:46,200 --> 00:17:48,760 Speaker 2: they have different takes on whether or not it's considered 401 00:17:48,840 --> 00:17:51,600 Speaker 2: conditional or unconditional. Oh shut up, And sometimes it depends 402 00:17:51,800 --> 00:17:55,199 Speaker 2: on the behavior of the parties involved. And so I 403 00:17:55,200 --> 00:17:57,520 Speaker 2: think part of the reason that that this this dude 404 00:17:57,600 --> 00:18:00,560 Speaker 2: is essentially saying give him a ring back because it's 405 00:18:00,600 --> 00:18:04,399 Speaker 2: really expensive. But two, because he's he's insinuating that she 406 00:18:04,560 --> 00:18:07,440 Speaker 2: did things that were untoward and she's like, no, I didn't. 407 00:18:07,440 --> 00:18:08,200 Speaker 1: What are you talking about? 408 00:18:08,960 --> 00:18:11,480 Speaker 2: So I don't know where I side down this too. 409 00:18:11,480 --> 00:18:13,879 Speaker 2: I think I also decided to, like, all, if you're 410 00:18:13,880 --> 00:18:15,159 Speaker 2: not going to go through with it, it's called an 411 00:18:15,200 --> 00:18:15,800 Speaker 2: engagement ring. 412 00:18:15,800 --> 00:18:16,600 Speaker 1: Should I'll give it back. 413 00:18:16,640 --> 00:18:18,600 Speaker 2: It's like to me, it's an external signal of your 414 00:18:18,600 --> 00:18:21,320 Speaker 2: intention to get married, right, like, oh, and the story 415 00:18:21,359 --> 00:18:23,119 Speaker 2: said that he you know, they called it off, and 416 00:18:23,200 --> 00:18:26,560 Speaker 2: he called it off in particular here shortly after they 417 00:18:26,600 --> 00:18:29,320 Speaker 2: got engaged. It would be different if they had gotten married. 418 00:18:29,440 --> 00:18:31,000 Speaker 2: That's a whole other thing. Let's say they've been married, 419 00:18:31,040 --> 00:18:33,760 Speaker 2: even for like a couple of years. I would say, 420 00:18:33,840 --> 00:18:36,159 Speaker 2: all right, she probably gets to keep it, like you 421 00:18:36,600 --> 00:18:38,680 Speaker 2: actually got married, Like that was the intent behind the 422 00:18:38,720 --> 00:18:40,680 Speaker 2: engagement ring, is the signal that, like, we are going 423 00:18:40,720 --> 00:18:42,960 Speaker 2: to get married. But there's a difference there between just 424 00:18:42,960 --> 00:18:45,200 Speaker 2: being engaged, I think and actually getting married. 425 00:18:45,280 --> 00:18:45,960 Speaker 1: Yeah, but I don't know. 426 00:18:45,960 --> 00:18:49,200 Speaker 2: It's an interesting story, and you could find yourself in 427 00:18:49,240 --> 00:18:53,199 Speaker 2: some legal limbo. I guess if you are engaged and 428 00:18:53,200 --> 00:18:55,240 Speaker 2: it doesn't come there, And that just stinks to the 429 00:18:55,280 --> 00:18:57,560 Speaker 2: relationship fell apart. But that's a lot of money at 430 00:18:57,600 --> 00:18:59,879 Speaker 2: stake and another reason Matt to be a little more frugal. 431 00:19:00,040 --> 00:19:02,560 Speaker 1: Think with your your engagement ring choice. 432 00:19:02,480 --> 00:19:04,880 Speaker 2: You never know and evidently depends on in which state 433 00:19:04,920 --> 00:19:08,520 Speaker 2: you reside. Yeah, maybe that couple could have used some therapy, jol. 434 00:19:08,760 --> 00:19:10,760 Speaker 2: I'm sure they could afford it based on how much 435 00:19:10,800 --> 00:19:12,760 Speaker 2: it was a Tiffany's engager ring. Seventy thousand dollars. 436 00:19:12,840 --> 00:19:13,640 Speaker 1: Yeah, so expensive. 437 00:19:13,880 --> 00:19:16,960 Speaker 2: But there's an article this week about how expensive therapy 438 00:19:17,040 --> 00:19:20,920 Speaker 2: can be. We've as a culture, we've destigmatized mental health, 439 00:19:20,960 --> 00:19:25,000 Speaker 2: but that doesn't mean it's gotten more financially accessible. Although 440 00:19:25,119 --> 00:19:27,439 Speaker 2: more insurance companies are going to help to pay for 441 00:19:27,480 --> 00:19:31,200 Speaker 2: some therapy, that being said, most therapists don't take insurance. Yeah, 442 00:19:31,280 --> 00:19:33,680 Speaker 2: so it's kind of like the reservation skit on Seinfeld. 443 00:19:33,720 --> 00:19:35,359 Speaker 2: It's like, you know how to take the reservation, you 444 00:19:35,440 --> 00:19:37,880 Speaker 2: just not how to keep it. There's a disconnect here. Yeah, 445 00:19:37,880 --> 00:19:39,760 Speaker 2: and it's like, Okay, well cool, insurance is going to 446 00:19:39,800 --> 00:19:41,960 Speaker 2: pay for therapy, but nobody wants to accept it, and 447 00:19:42,000 --> 00:19:43,840 Speaker 2: then you're you're kind of stuck between a rock and 448 00:19:43,840 --> 00:19:46,760 Speaker 2: a hard place, right Like sometimes like oftentimes is it 449 00:19:46,800 --> 00:19:48,879 Speaker 2: I feel like the going rate. We've talked about the 450 00:19:48,920 --> 00:19:51,280 Speaker 2: sum with Emily being in school to be a counselor, 451 00:19:51,320 --> 00:19:54,240 Speaker 2: like one fifty a session does not see safeties like 452 00:19:54,280 --> 00:19:56,119 Speaker 2: table stakes. Now, man, oh, is it really Yeah? So 453 00:19:56,160 --> 00:19:57,960 Speaker 2: it's even more so. Yeah, and especially if you're a 454 00:19:57,960 --> 00:20:00,639 Speaker 2: couple going to Marrorg's therapy, we're definitely talking two bills 455 00:20:00,720 --> 00:20:04,560 Speaker 2: or more, maybe closer to two fifty. And so there 456 00:20:04,600 --> 00:20:06,439 Speaker 2: was this recent survey man, I found that something like 457 00:20:07,000 --> 00:20:09,640 Speaker 2: a third of people were going to therapy. Theyre felt 458 00:20:09,680 --> 00:20:11,560 Speaker 2: like they were being helped by it, but they felt 459 00:20:11,560 --> 00:20:13,760 Speaker 2: like they had to actually stop going to therapy in 460 00:20:13,920 --> 00:20:16,000 Speaker 2: order to save money because it adds up. I mean like, really, 461 00:20:16,000 --> 00:20:17,720 Speaker 2: you go three times a month, that's a that's a 462 00:20:17,760 --> 00:20:20,399 Speaker 2: car payment, the average car payment in the United States. 463 00:20:20,480 --> 00:20:23,000 Speaker 2: It really, it really can be quite expensive. And I 464 00:20:23,040 --> 00:20:26,000 Speaker 2: want to say this too because I think initially when 465 00:20:26,040 --> 00:20:28,600 Speaker 2: I when Emily and I were talking and I was like, oh, 466 00:20:28,600 --> 00:20:30,280 Speaker 2: you can get that much per hour, You're going to 467 00:20:30,320 --> 00:20:34,040 Speaker 2: be rolling in the dough. And she was like, well, well, one, 468 00:20:34,200 --> 00:20:35,879 Speaker 2: there's the time that it takes to go to school, 469 00:20:35,880 --> 00:20:37,439 Speaker 2: There's the money that it takes to go to school, 470 00:20:37,640 --> 00:20:40,040 Speaker 2: There's the facility that you have to rent in order 471 00:20:40,040 --> 00:20:42,439 Speaker 2: to see people. Although there's more zoom therapy now, but 472 00:20:42,480 --> 00:20:44,320 Speaker 2: there's like all there's the insurance you have to have 473 00:20:44,359 --> 00:20:46,760 Speaker 2: as a therapist. It's not like they're just pocketing one 474 00:20:46,800 --> 00:20:48,520 Speaker 2: hundred and eighty bucks an hour. And it's not like 475 00:20:48,520 --> 00:20:51,480 Speaker 2: you're working eight hour. It's not like a plumber, right 476 00:20:51,680 --> 00:20:53,240 Speaker 2: or I don't know, it's not like a lot we 477 00:20:53,280 --> 00:20:54,600 Speaker 2: have to drive to and from their jobs. 478 00:20:54,760 --> 00:20:55,560 Speaker 1: Yeah, like there are. 479 00:20:55,520 --> 00:20:57,439 Speaker 2: Periods of time when you're not working as opposed to 480 00:20:58,080 --> 00:20:59,719 Speaker 2: like I guess I'm thinking of a lawyer who can 481 00:20:59,720 --> 00:21:02,000 Speaker 2: build hourly and it's typically is like you just sit 482 00:21:02,040 --> 00:21:04,240 Speaker 2: there at your desk and you continue to work pretty much. 483 00:21:04,480 --> 00:21:06,600 Speaker 2: You know, you break for lunch and whatever else you 484 00:21:06,600 --> 00:21:09,160 Speaker 2: need to do. But yeah, you're not seeing like clients 485 00:21:09,160 --> 00:21:11,680 Speaker 2: back to back back exactly for nine clients in a day. 486 00:21:11,680 --> 00:21:14,800 Speaker 2: There's some big old gaps. Yeah, get those dollars signs 487 00:21:14,800 --> 00:21:15,560 Speaker 2: out of your eyes aol. 488 00:21:15,640 --> 00:21:17,320 Speaker 1: Yeah, Yeah, I had to. 489 00:21:17,400 --> 00:21:18,960 Speaker 2: I had to, like, oh I got, I got me 490 00:21:19,000 --> 00:21:20,879 Speaker 2: a sugar mama, right, I'd get I had to re 491 00:21:20,920 --> 00:21:24,359 Speaker 2: align my expectations there. But yeah, I think it's important 492 00:21:24,400 --> 00:21:26,280 Speaker 2: to mention that mentioned that that that's part of why 493 00:21:26,359 --> 00:21:29,000 Speaker 2: it's so expensive, But it's also sad that it's financially 494 00:21:29,040 --> 00:21:31,520 Speaker 2: inaccessible to so many people. So what should you do 495 00:21:31,600 --> 00:21:33,000 Speaker 2: out there? I feel like I would love to go 496 00:21:33,040 --> 00:21:35,600 Speaker 2: see somebody, I would love to do some talk therapy, 497 00:21:35,760 --> 00:21:38,320 Speaker 2: but it does feel like I can't do it because 498 00:21:38,560 --> 00:21:41,400 Speaker 2: how crazy expensive it is. Well, one check and see 499 00:21:41,400 --> 00:21:44,840 Speaker 2: if there are nonprofits in your area that offer discounted 500 00:21:44,880 --> 00:21:47,399 Speaker 2: access to talk therapy. Those exist, and those can make 501 00:21:47,400 --> 00:21:50,200 Speaker 2: a big difference. Check and see if your employer offers 502 00:21:50,240 --> 00:21:54,120 Speaker 2: access to mental health services or will pay for some therapy, 503 00:21:54,440 --> 00:21:57,960 Speaker 2: especially if you had a traumatic event. Oftentimes there's like 504 00:21:58,040 --> 00:22:00,040 Speaker 2: money from employers Matt that will help pay for some 505 00:22:00,080 --> 00:22:02,840 Speaker 2: of that. Some therapists, like I said, do accept insurance, 506 00:22:03,200 --> 00:22:05,600 Speaker 2: and others will charge on a sliding scale depending on 507 00:22:05,600 --> 00:22:08,440 Speaker 2: your income. So it's worth asking about that too. Maybe 508 00:22:08,480 --> 00:22:11,560 Speaker 2: you find out, hey, my insurance does cover some mental 509 00:22:11,560 --> 00:22:14,800 Speaker 2: health help, and I'm gonna do my darkness to find 510 00:22:14,920 --> 00:22:18,760 Speaker 2: a practitioner who accepts that insurance. And I think this 511 00:22:18,840 --> 00:22:21,440 Speaker 2: is maybe under sold too, But How'm I gonna talk 512 00:22:21,440 --> 00:22:22,840 Speaker 2: with a friend going for a hike or a walk 513 00:22:22,920 --> 00:22:24,760 Speaker 2: or something like that. I know they're not trained in 514 00:22:24,800 --> 00:22:28,119 Speaker 2: the same way, but that can actually be a free 515 00:22:28,119 --> 00:22:30,359 Speaker 2: way to unburden some of those things that you've got 516 00:22:30,440 --> 00:22:33,159 Speaker 2: on your mind, get you thinking about certain events in 517 00:22:33,200 --> 00:22:35,240 Speaker 2: a healthier way. Perhaps, what do you think. 518 00:22:35,119 --> 00:22:37,840 Speaker 1: About again, I know it's not the same. I'm just saying, yeah, I. 519 00:22:37,920 --> 00:22:40,000 Speaker 2: Get what you're saying, though, because I mean, sometimes you 520 00:22:40,040 --> 00:22:42,199 Speaker 2: just need space and for someone to kind of like 521 00:22:42,200 --> 00:22:44,320 Speaker 2: ask some questions. And I think part of the loneliness 522 00:22:44,359 --> 00:22:47,000 Speaker 2: epidemic that we were going through as a country is 523 00:22:47,000 --> 00:22:48,399 Speaker 2: because we're not hanging out with friends as much on 524 00:22:48,480 --> 00:22:49,919 Speaker 2: that people to talk. We feel like we need to 525 00:22:49,920 --> 00:22:52,680 Speaker 2: professionalize everything. And that's true. Again, my wife's studying to 526 00:22:52,680 --> 00:22:54,600 Speaker 2: be a professional there, but she's awesome at it. And 527 00:22:54,960 --> 00:22:57,000 Speaker 2: why are you talking down the industry, Joals. I'm just 528 00:22:57,000 --> 00:22:59,879 Speaker 2: saying like that, if we have had more people in 529 00:23:00,040 --> 00:23:03,119 Speaker 2: our communities and in our neighbors that we're more connected to, 530 00:23:03,480 --> 00:23:05,800 Speaker 2: we might find that we needed to professionalize that just 531 00:23:05,800 --> 00:23:08,159 Speaker 2: a little less. I totally agree on the note of 532 00:23:08,200 --> 00:23:10,959 Speaker 2: mental health. Put down your phone after work hours, folks. 533 00:23:11,240 --> 00:23:13,280 Speaker 2: This isn't going to be shocking, but a recent survey 534 00:23:13,359 --> 00:23:16,320 Speaker 2: found that responding to work emails after hours, it's going 535 00:23:16,359 --> 00:23:19,600 Speaker 2: to lead the burnout. Yet the majority of Americans are 536 00:23:19,680 --> 00:23:21,600 Speaker 2: doing this very thing because they feel like they have to. 537 00:23:22,080 --> 00:23:25,080 Speaker 2: And so is that actually true though, Like do they 538 00:23:25,119 --> 00:23:25,960 Speaker 2: have to get back. 539 00:23:25,800 --> 00:23:27,320 Speaker 1: To their boss or do they just feel like that 540 00:23:27,560 --> 00:23:27,760 Speaker 1: or do you? 541 00:23:27,840 --> 00:23:29,879 Speaker 2: Yeah, Like, if your boss expects that you're going to 542 00:23:29,920 --> 00:23:33,359 Speaker 2: respond immediately, even if it's dinner time, I don't know. 543 00:23:33,400 --> 00:23:35,479 Speaker 2: I might say it might it could be time for 544 00:23:35,920 --> 00:23:38,440 Speaker 2: like a heart to heart sort of conversation with your boss. 545 00:23:38,440 --> 00:23:42,280 Speaker 2: Maybe you can negotiate some new expectations on both ends. 546 00:23:42,280 --> 00:23:44,800 Speaker 2: But the truth is, and this is another story we 547 00:23:44,880 --> 00:23:47,720 Speaker 2: came across the c suite, the upper crust in the 548 00:23:47,720 --> 00:23:51,639 Speaker 2: workplace hierarchy. They are doing it, so maybe you should 549 00:23:51,720 --> 00:23:55,520 Speaker 2: consider it as well. More CEOs are migrating back to 550 00:23:55,640 --> 00:23:59,800 Speaker 2: dumb phones basically in order to reduce interruptions within their 551 00:24:00,080 --> 00:24:03,280 Speaker 2: within their workday. There is a bit of, uh, sort 552 00:24:03,280 --> 00:24:05,320 Speaker 2: of like an anti tech movement that's happening, Joel, and 553 00:24:05,920 --> 00:24:08,280 Speaker 2: I think embracing it, at least in moderation could help 554 00:24:08,400 --> 00:24:11,920 Speaker 2: your personal as well as your professional life. That being said, 555 00:24:12,160 --> 00:24:13,679 Speaker 2: I don't want people to think that they have to 556 00:24:13,760 --> 00:24:17,800 Speaker 2: spend more money on these new gadgets that are going 557 00:24:17,840 --> 00:24:20,199 Speaker 2: to cost you money. That are dumb. I saw that 558 00:24:20,240 --> 00:24:21,760 Speaker 2: the you know what I'm saying, the new light phones 559 00:24:21,800 --> 00:24:24,480 Speaker 2: coming out and the version three. What's what's the price 560 00:24:24,440 --> 00:24:26,639 Speaker 2: of the eight hundred bucks? Oh, it's the same prices 561 00:24:26,680 --> 00:24:27,160 Speaker 2: as my phone. 562 00:24:27,280 --> 00:24:27,879 Speaker 1: Ridiculous. 563 00:24:27,880 --> 00:24:30,280 Speaker 2: It's so stupid. And so this is where we can 564 00:24:30,400 --> 00:24:32,880 Speaker 2: fall into that trap of consumption and thinking that, oh, 565 00:24:32,960 --> 00:24:35,080 Speaker 2: I got to consume in order to fix all my problems. 566 00:24:35,080 --> 00:24:38,720 Speaker 2: But sometimes yes, certain tools are helpful and they can 567 00:24:38,760 --> 00:24:40,400 Speaker 2: allow us to achieve some of the goals that we're 568 00:24:40,400 --> 00:24:43,159 Speaker 2: looking to achieve. But don't forget about self discipline and 569 00:24:43,200 --> 00:24:44,960 Speaker 2: the fact that it's takes Like you can buy that 570 00:24:45,000 --> 00:24:47,280 Speaker 2: stupid phone, it's been eight hundred bucks on a light phone, 571 00:24:47,800 --> 00:24:49,400 Speaker 2: but if you don't use it, and if you still 572 00:24:49,440 --> 00:24:51,520 Speaker 2: go back to the one that's pinging you from work, 573 00:24:51,800 --> 00:24:53,920 Speaker 2: turn off your notifications. First of all, I think that's 574 00:24:53,920 --> 00:24:56,760 Speaker 2: a super easy way to minimize some of the distractions 575 00:24:56,800 --> 00:24:59,400 Speaker 2: and minimize interruptions in your personal life. But in another room, 576 00:24:59,400 --> 00:25:01,000 Speaker 2: to put it in the room, set like draw a 577 00:25:01,040 --> 00:25:02,639 Speaker 2: line in the sand and set some rules around so 578 00:25:02,680 --> 00:25:05,359 Speaker 2: when you try off notifications, like the badge notifications will 579 00:25:05,400 --> 00:25:08,360 Speaker 2: go away as well, like the little red number down 580 00:25:08,359 --> 00:25:11,040 Speaker 2: there on your email. I don't want to be notified. 581 00:25:11,160 --> 00:25:12,760 Speaker 2: I don't want there to be a banner that pops 582 00:25:12,800 --> 00:25:14,760 Speaker 2: up on my phone every single time that I receive 583 00:25:14,800 --> 00:25:18,160 Speaker 2: an email. And I know that we're maybe speaking from 584 00:25:18,160 --> 00:25:21,520 Speaker 2: a position of luxury jeel like, this is the ability 585 00:25:21,560 --> 00:25:23,479 Speaker 2: for us to be our own boss. Some folks out 586 00:25:23,480 --> 00:25:24,879 Speaker 2: there might be saying, well, good for you, guys, I 587 00:25:24,920 --> 00:25:25,640 Speaker 2: can't actually do. 588 00:25:25,640 --> 00:25:26,960 Speaker 1: That, but I have a real boss. 589 00:25:26,960 --> 00:25:29,680 Speaker 2: And he said, but what I guess what we're maybe 590 00:25:29,760 --> 00:25:32,200 Speaker 2: highlighting here is it is something that is worth fighting for, 591 00:25:32,320 --> 00:25:34,480 Speaker 2: and it's honestly, it is the number one reason to 592 00:25:34,520 --> 00:25:37,840 Speaker 2: consider working for yourself. And your boss actually might expect 593 00:25:37,920 --> 00:25:41,600 Speaker 2: that you're gonna reply quickly because you normally reply quickly, 594 00:25:41,760 --> 00:25:44,560 Speaker 2: and so you might have set an expectation by just 595 00:25:44,600 --> 00:25:47,280 Speaker 2: how responsive you've been. And so maybe that's part of 596 00:25:47,280 --> 00:25:49,840 Speaker 2: the heart to heart is saying, listen, I have been responsive, 597 00:25:50,080 --> 00:25:53,720 Speaker 2: but I'm trying to like detox some of the tech 598 00:25:53,800 --> 00:25:56,679 Speaker 2: that's happening in my life in the evening times. And 599 00:25:56,760 --> 00:25:59,200 Speaker 2: so you know, if you say I need to check 600 00:25:59,240 --> 00:26:01,399 Speaker 2: my email one time, I at nine pm before I 601 00:26:01,520 --> 00:26:03,400 Speaker 2: like hit the hay or whatever, maybe that's the one 602 00:26:03,400 --> 00:26:04,840 Speaker 2: thing you give on. But I'm not going to be 603 00:26:04,880 --> 00:26:08,000 Speaker 2: responding at all hours of the evening because I want 604 00:26:08,040 --> 00:26:10,080 Speaker 2: to enjoy that time. And you're right, I think what 605 00:26:10,200 --> 00:26:13,240 Speaker 2: is Australia that basically made it illegal for bosses now 606 00:26:13,480 --> 00:26:14,360 Speaker 2: to contact. 607 00:26:14,040 --> 00:26:14,719 Speaker 1: You in the evening. 608 00:26:15,280 --> 00:26:17,439 Speaker 2: I don't know if we need a law, but we 609 00:26:17,480 --> 00:26:20,920 Speaker 2: do maybe need more open lines of communication. And yes, 610 00:26:21,240 --> 00:26:23,480 Speaker 2: it makes me think of actually what happened this week 611 00:26:23,520 --> 00:26:27,240 Speaker 2: with with Amazon. We're living in a far less worker 612 00:26:27,320 --> 00:26:30,400 Speaker 2: centric environment than we were a couple of years ago. 613 00:26:30,800 --> 00:26:34,320 Speaker 2: Amazon is calling employees back to the office full time 614 00:26:34,400 --> 00:26:38,120 Speaker 2: starting in January, and there are some unhappy Amazon employees 615 00:26:38,119 --> 00:26:40,000 Speaker 2: out there, even though I think that I saw also 616 00:26:40,080 --> 00:26:42,840 Speaker 2: that they gave that Amazon employees now have free access 617 00:26:42,840 --> 00:26:45,359 Speaker 2: to Prime. Sorry, that's not gonna that's not going to 618 00:26:45,440 --> 00:26:46,520 Speaker 2: make up for the fact that you got to go 619 00:26:46,520 --> 00:26:48,239 Speaker 2: back to the office. I did see that part. I 620 00:26:48,280 --> 00:26:51,120 Speaker 2: was like, they I should have free access to Amazon. Yeah, 621 00:26:51,160 --> 00:26:53,119 Speaker 2: they didn't have it already. Come on, it was like 622 00:26:53,240 --> 00:26:57,040 Speaker 2: way too cheap. So it's not just Amazon. The percentage 623 00:26:57,080 --> 00:27:00,159 Speaker 2: of time the average American is working from home has 624 00:27:00,240 --> 00:27:03,679 Speaker 2: dropped actually quite a bit since twenty twenty, when of course, 625 00:27:03,840 --> 00:27:05,879 Speaker 2: that was the way a lot of business had to 626 00:27:05,920 --> 00:27:09,040 Speaker 2: be conducted. We just weren't doing anything in person. And 627 00:27:09,080 --> 00:27:10,240 Speaker 2: I think we're going to see more of this. I 628 00:27:10,240 --> 00:27:13,120 Speaker 2: think this Amazon putting the foot down five days a week, 629 00:27:13,119 --> 00:27:15,280 Speaker 2: you're coming back into the office or you're out of here. 630 00:27:15,640 --> 00:27:18,640 Speaker 2: Those sorts of ultimatums are ramping up. And then when 631 00:27:18,680 --> 00:27:21,440 Speaker 2: a company as big as Amazon does it that, we're 632 00:27:21,440 --> 00:27:23,800 Speaker 2: going to see more employers follow suits. It's true, and 633 00:27:24,200 --> 00:27:27,160 Speaker 2: the less competitive the labor market becomes, the more employees 634 00:27:27,200 --> 00:27:29,160 Speaker 2: are going to be forced to take it on the chin. 635 00:27:29,640 --> 00:27:31,600 Speaker 2: And we know that in office work leads to more 636 00:27:31,600 --> 00:27:33,720 Speaker 2: advancement and pay hikes, especially. 637 00:27:33,440 --> 00:27:34,320 Speaker 1: For younger workers. 638 00:27:34,840 --> 00:27:37,359 Speaker 2: If your work from home stat status starts to change 639 00:27:37,359 --> 00:27:39,480 Speaker 2: and you don't like it, though, tap your network for 640 00:27:39,520 --> 00:27:42,280 Speaker 2: better opportunities. And if you really really hate the idea, 641 00:27:42,480 --> 00:27:44,639 Speaker 2: it's really important to start ramping up your savings so 642 00:27:44,680 --> 00:27:47,639 Speaker 2: you have more options. So some of those those Amazon 643 00:27:47,720 --> 00:27:51,280 Speaker 2: employees that have a nine month emergency fund saved up, 644 00:27:51,560 --> 00:27:55,040 Speaker 2: they might say, screw you, I'm not coming back in. 645 00:27:55,359 --> 00:27:57,879 Speaker 2: I'm and we were talking to I was talking to 646 00:27:57,920 --> 00:28:01,440 Speaker 2: somebody last night who says, man, I working from home 647 00:28:01,640 --> 00:28:03,680 Speaker 2: has changed my life. I have more time for hobbies. 648 00:28:03,960 --> 00:28:06,040 Speaker 2: I don't feel like I'm run ragged at the end 649 00:28:06,080 --> 00:28:07,560 Speaker 2: of the day, and I think a lot of people 650 00:28:07,600 --> 00:28:10,840 Speaker 2: feel that way, and understandably so. So if that's of 651 00:28:10,880 --> 00:28:13,879 Speaker 2: crucial importance to you, pushback. But if you're still in 652 00:28:13,920 --> 00:28:16,080 Speaker 2: the I'm trying to advance my career, ramp up my 653 00:28:16,119 --> 00:28:18,320 Speaker 2: earnings phase, going back in could be the best thing 654 00:28:18,359 --> 00:28:20,560 Speaker 2: for you. I am surprised to see that though, Like 655 00:28:20,720 --> 00:28:22,800 Speaker 2: so before it was only they only needed to be 656 00:28:22,840 --> 00:28:24,840 Speaker 2: in like three days, three out of five days of 657 00:28:24,840 --> 00:28:27,639 Speaker 2: the week. Yeah, now they're adding those additional two days. Gosh, 658 00:28:28,080 --> 00:28:30,440 Speaker 2: it really does Like guys, I thought we hybrid we worked, 659 00:28:30,600 --> 00:28:32,159 Speaker 2: was working well. I thought it was going to work out, 660 00:28:32,200 --> 00:28:35,120 Speaker 2: but that no longer seems to be the case. Another 661 00:28:35,560 --> 00:28:38,640 Speaker 2: Amazon related story, they're actually trying to compete with my 662 00:28:38,720 --> 00:28:44,720 Speaker 2: favorite grocery storeageol Aldi. Amazon's unrolling their new Amazon Saver line. 663 00:28:44,840 --> 00:28:48,480 Speaker 2: It's the snow frills extremely affordable sort of line, which 664 00:28:48,520 --> 00:28:51,760 Speaker 2: sounds exactly like all these value proposition Yeah, it's still 665 00:28:51,840 --> 00:28:55,080 Speaker 2: a relatively small lineup of food products, but everything costs 666 00:28:55,160 --> 00:28:58,200 Speaker 2: less than five dollars. And Amazon they've already got some 667 00:28:58,280 --> 00:29:01,560 Speaker 2: of their own proprietory brands, but none of them have 668 00:29:01,640 --> 00:29:04,000 Speaker 2: minimized the price to this extent, that's for sure. Yeah, 669 00:29:04,000 --> 00:29:08,320 Speaker 2: they haven't really targeted the super cheap store brand thing. 670 00:29:08,400 --> 00:29:11,160 Speaker 2: They've had kind of their more high falutint semi fancy 671 00:29:11,240 --> 00:29:14,360 Speaker 2: organice brands and stuff like that. And now they're like no, no, 672 00:29:14,400 --> 00:29:16,880 Speaker 2: all the and llegal laser eyes on you, focused on you. 673 00:29:17,280 --> 00:29:17,560 Speaker 1: Yeah. 674 00:29:17,640 --> 00:29:19,840 Speaker 2: I mean there's been a lot made about gouging in 675 00:29:19,880 --> 00:29:22,120 Speaker 2: the grocery elles, but just the cost of eating at home, 676 00:29:22,560 --> 00:29:25,280 Speaker 2: like honestly, Doe, they have always been more affordable than 677 00:29:25,360 --> 00:29:28,280 Speaker 2: going out to eat. And this Amazon launch is a 678 00:29:28,320 --> 00:29:30,680 Speaker 2: reminder that while prices they're certainly not going back to 679 00:29:30,680 --> 00:29:33,560 Speaker 2: twenty nineteen levels, and we are seeing inflation come down, 680 00:29:33,560 --> 00:29:35,760 Speaker 2: but prices are not going to go back to where 681 00:29:35,800 --> 00:29:37,760 Speaker 2: they used to be. That being said, there's still a 682 00:29:37,760 --> 00:29:41,680 Speaker 2: healthy amount of competition across the grocery store spectrum and 683 00:29:41,840 --> 00:29:45,120 Speaker 2: where you choose to shop, which specific brands that you 684 00:29:45,240 --> 00:29:48,000 Speaker 2: choose to buy, they will be a determining factor in 685 00:29:48,000 --> 00:29:51,160 Speaker 2: your overall grocery budget. Personally, though, I will say I'm 686 00:29:51,200 --> 00:29:53,600 Speaker 2: not super impressed with what I'm seeing when it comes 687 00:29:53,640 --> 00:29:56,960 Speaker 2: to the Amazon stadth, I haven't ordered something, okay, being 688 00:29:56,960 --> 00:29:59,200 Speaker 2: I would love to see you trying totally just Canp's 689 00:29:59,200 --> 00:30:01,320 Speaker 2: look delicious? I'm totally judging a book by its cover. 690 00:30:01,400 --> 00:30:06,040 Speaker 2: It just looks super generic and discounted. Whereas like when 691 00:30:06,040 --> 00:30:07,800 Speaker 2: I go to All the like all the and Costco 692 00:30:07,880 --> 00:30:10,880 Speaker 2: feel value driven to me, and especially Costco right like, 693 00:30:10,840 --> 00:30:12,960 Speaker 2: because you're getting like they have some nicer brands. 694 00:30:13,320 --> 00:30:15,280 Speaker 1: You're saying, it feels more like a dollar store product. 695 00:30:15,360 --> 00:30:18,040 Speaker 2: It does, it does, and so you're paying a similar 696 00:30:18,200 --> 00:30:20,200 Speaker 2: price as what you might pay at All the but 697 00:30:20,240 --> 00:30:22,720 Speaker 2: it feels like you're getting something that that's even cheaper. Yeah, 698 00:30:22,840 --> 00:30:24,720 Speaker 2: So I don't know. Maybe I will just be an. 699 00:30:24,640 --> 00:30:27,280 Speaker 1: All the loyalist for whatever I think you will be. 700 00:30:27,360 --> 00:30:28,040 Speaker 1: I'll give it a shot. 701 00:30:28,080 --> 00:30:29,880 Speaker 2: I'll see if there's something there that where I can 702 00:30:29,920 --> 00:30:32,320 Speaker 2: do sort of like a beta test, like compare some 703 00:30:32,360 --> 00:30:34,880 Speaker 2: apples to apples. Okay, not literally, they don't really have 704 00:30:34,920 --> 00:30:39,520 Speaker 2: apples this Amazon Savor line, but yeah, like canpis to canpis? 705 00:30:39,560 --> 00:30:42,120 Speaker 2: I guess, sure and report back, let us know what 706 00:30:42,160 --> 00:30:44,680 Speaker 2: you think. But I think more than hey, look at 707 00:30:44,720 --> 00:30:47,880 Speaker 2: this great new, super cheap, awesome food product from Amazon. 708 00:30:48,240 --> 00:30:50,680 Speaker 2: It's it's more of a kind of what you were saying, 709 00:30:50,960 --> 00:30:54,160 Speaker 2: highlighting the fact that they're having to compete with grocery 710 00:30:54,160 --> 00:30:57,240 Speaker 2: stores that have cut costs significantly, that are saving consumers 711 00:30:57,280 --> 00:30:59,400 Speaker 2: money regularly, and Amazon's like, well, we don't want to 712 00:30:59,400 --> 00:31:02,120 Speaker 2: get it left out completely, get left in the dust 713 00:31:02,120 --> 00:31:04,160 Speaker 2: by the Aldis and the leadals of this world. Right, 714 00:31:04,960 --> 00:31:07,880 Speaker 2: speaking of hiking grocery prices, though Matt new Data finds 715 00:31:07,920 --> 00:31:11,000 Speaker 2: it the coffee prices have been going up significantly. All Right, 716 00:31:11,000 --> 00:31:13,400 Speaker 2: I guess I'm just gonna pay more. Yeah, I get so, 717 00:31:13,480 --> 00:31:13,760 Speaker 2: are you? 718 00:31:13,840 --> 00:31:14,640 Speaker 1: Is that what's gonna happen? 719 00:31:14,640 --> 00:31:16,160 Speaker 2: Like you're gonna buy the fancy stuff, no matter what 720 00:31:16,200 --> 00:31:18,760 Speaker 2: are you gonna it's coffee. Coffee is like a non 721 00:31:18,760 --> 00:31:21,320 Speaker 2: negotiable man, Like, would you if the that's like one 722 00:31:21,320 --> 00:31:24,320 Speaker 2: of those inflexible it doesn't matter what the price goes to. 723 00:31:24,440 --> 00:31:27,040 Speaker 2: Almost yeah, Like I think I would still consume coffee. 724 00:31:27,040 --> 00:31:28,680 Speaker 2: I think there's a lot of parents out there and 725 00:31:28,760 --> 00:31:30,200 Speaker 2: a lot of workers who would be like, yeah, I 726 00:31:30,200 --> 00:31:31,520 Speaker 2: still got to get my coffee. You're not going to 727 00:31:31,560 --> 00:31:33,560 Speaker 2: like pull a Tim Ferriss and just cut caffeine out 728 00:31:33,560 --> 00:31:34,000 Speaker 2: of your life. 729 00:31:34,000 --> 00:31:34,600 Speaker 1: Did he do that? 730 00:31:34,680 --> 00:31:36,200 Speaker 2: I think he did Oh yeah, I don't think I 731 00:31:36,200 --> 00:31:38,320 Speaker 2: could do that. I think he said he slept better. 732 00:31:38,800 --> 00:31:41,760 Speaker 2: But like, yeah, so we've already seen those prices going up. 733 00:31:42,560 --> 00:31:44,440 Speaker 2: My bag at Costco went from like ten bucks to 734 00:31:44,440 --> 00:31:47,760 Speaker 2: fifteen bucks over the course of like a year, and 735 00:31:47,840 --> 00:31:51,200 Speaker 2: it might be going up even more. And at risk 736 00:31:51,280 --> 00:31:53,720 Speaker 2: of being those idiots who tell you to drink your 737 00:31:53,760 --> 00:31:56,360 Speaker 2: coffee at home because that's what's gonna allow you to 738 00:31:56,400 --> 00:31:59,560 Speaker 2: retire ten years earlier, which of course it's not. But 739 00:31:59,640 --> 00:32:03,040 Speaker 2: drink your coffee at home, because it's the more you 740 00:32:03,080 --> 00:32:04,760 Speaker 2: do that, the more it will save you money. Jill's like, 741 00:32:04,840 --> 00:32:06,080 Speaker 2: I'm saying, I'm not going to say the thing, but 742 00:32:06,080 --> 00:32:08,320 Speaker 2: then I'm going to say the thing. It is just 743 00:32:08,680 --> 00:32:10,600 Speaker 2: if you can play if you're paying five bucks a 744 00:32:10,640 --> 00:32:12,880 Speaker 2: pop for coffee, and how you complain about the price 745 00:32:12,920 --> 00:32:14,600 Speaker 2: of coffee and you do that five six days a week, 746 00:32:15,200 --> 00:32:15,960 Speaker 2: expected does that? 747 00:32:16,280 --> 00:32:17,040 Speaker 1: It does matter? 748 00:32:17,240 --> 00:32:19,320 Speaker 2: And I still think there are ways to enjoy your 749 00:32:19,400 --> 00:32:21,320 Speaker 2: nice cup of coffee out Like it's been a minute 750 00:32:21,360 --> 00:32:23,920 Speaker 2: since we've talked about this. You and I we still 751 00:32:24,080 --> 00:32:26,800 Speaker 2: every single Monday walk to our favorite coffee shop. 752 00:32:26,560 --> 00:32:28,080 Speaker 1: And enjoy an espresso drink. 753 00:32:28,120 --> 00:32:29,840 Speaker 2: We do it once a week, once a week, and 754 00:32:29,880 --> 00:32:31,360 Speaker 2: it makes it feel like a treat. And I think 755 00:32:31,400 --> 00:32:33,240 Speaker 2: if you do it five or six days a week, 756 00:32:33,360 --> 00:32:35,680 Speaker 2: it feels like the routine and something you expect. Then 757 00:32:35,800 --> 00:32:37,520 Speaker 2: start it starts losing its luster. You can make a 758 00:32:37,520 --> 00:32:39,280 Speaker 2: fine cup of coffee at home. In fact, man, I 759 00:32:39,280 --> 00:32:42,560 Speaker 2: feel like sometimes the coffee you're making is better than well, 760 00:32:42,600 --> 00:32:44,360 Speaker 2: like a lot of the local coffee shops are promo 761 00:32:44,640 --> 00:32:46,720 Speaker 2: thank you well just because like you, you dial it. 762 00:32:46,760 --> 00:32:47,840 Speaker 1: You've kind of dialed in. Man. 763 00:32:47,880 --> 00:32:50,840 Speaker 2: You've got a very scientific approach to how you make 764 00:32:50,880 --> 00:32:52,800 Speaker 2: your coffee. You read a loss of words because you 765 00:32:52,840 --> 00:32:54,200 Speaker 2: didn't know the term birgrinder. 766 00:32:54,280 --> 00:32:55,000 Speaker 1: That's what it is. 767 00:32:55,240 --> 00:32:56,880 Speaker 2: It No, it's more than that, because you're getting the 768 00:32:57,040 --> 00:32:59,280 Speaker 2: you're geting the temperature at the right, you're talking about 769 00:32:59,280 --> 00:33:01,680 Speaker 2: the special kettle, the number of rams of coffee. 770 00:33:01,760 --> 00:33:03,120 Speaker 1: I'm just like, that's more my style. Man. 771 00:33:03,160 --> 00:33:05,480 Speaker 2: I get into my coffee maker and hoping it turns 772 00:33:05,520 --> 00:33:07,600 Speaker 2: out okay, I have to research it, figure it out, 773 00:33:07,840 --> 00:33:09,440 Speaker 2: and then for the rest of my life I get 774 00:33:09,440 --> 00:33:11,920 Speaker 2: to do this thing at a discounted rate. You don't 775 00:33:11,960 --> 00:33:13,719 Speaker 2: have to do it that way, but know that ultimately 776 00:33:13,800 --> 00:33:14,680 Speaker 2: it might save you some money. 777 00:33:14,800 --> 00:33:15,000 Speaker 1: Yeah. 778 00:33:15,040 --> 00:33:16,960 Speaker 2: Well, before we wrap things up, let's give a quick 779 00:33:17,000 --> 00:33:20,400 Speaker 2: newsletter referral shout out to Megan C. Meghan, we really 780 00:33:20,440 --> 00:33:23,320 Speaker 2: appreciate you sharing the how to Money newsletter, which comes 781 00:33:23,320 --> 00:33:25,920 Speaker 2: out every Tuesday morning, to some of her friends who 782 00:33:25,960 --> 00:33:28,080 Speaker 2: she loves the most, or maybe family members. That's the 783 00:33:28,160 --> 00:33:31,480 Speaker 2: ultimate expression of love, is to share a newsletter that 784 00:33:31,520 --> 00:33:33,320 Speaker 2: matters to you with the people you care about, right. 785 00:33:33,440 --> 00:33:36,080 Speaker 2: Or a podcast, Yeah, or even a website how tomoney 786 00:33:36,080 --> 00:33:37,920 Speaker 2: dot com. That's where you can find our show notes 787 00:33:38,400 --> 00:33:41,440 Speaker 2: for this episode and the different stories that we discussed. 788 00:33:42,200 --> 00:33:43,960 Speaker 2: But buddy, that's going to be it for this episode. 789 00:33:44,000 --> 00:33:47,200 Speaker 2: So until next time, Best Friends Out, Best Friends Out.