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

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Speaker 1: and today we're discussing the investing gold Rush and negotiating

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Speaker 1: seventh pay. Yeah, Joel, We're gonna talk about investing in gold,

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Speaker 1: negotiating that seventh pay, as well as several other headlines

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Speaker 1: that we came across that we found interesting because this

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Speaker 1: is the Friday Flight episode where we talk about lots

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Speaker 1: of different bits of news and how they pertain to

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Speaker 1: our personal finances. But man, real quick, a quick little

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Speaker 1: recommendation for folks. A previous guest who we've had on

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Speaker 1: the show, Laura vander Camp. She has a podcast called

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Speaker 1: The New Corner Office that is all about working from home,

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Speaker 1: which I'm sure more folks are doing that now more

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Speaker 1: than ever, so I could probably be pretty interesting for them.

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Speaker 1: Highly relevant podcast. But she also has a new book

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Speaker 1: out there under the same name, The New Corner Office,

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Speaker 1: How the Most Successful People Work from Home. Now, I

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Speaker 1: wouldn't at all consider myself to be a part of

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Speaker 1: the most successful people out there, so I'm not sure

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Speaker 1: how this happened. The slightly successful people and the moderately

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Speaker 1: successful books, But she's quoted me, I'm actually in that book.

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Speaker 1: We're actually both in that book. Your your names in

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Speaker 1: there as well because she talks about the How the

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Speaker 1: Money podcast. Nice. Well, I'm humbled. I know you and

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Speaker 1: I man were both big fans of of Laura and

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Speaker 1: her work. I think maybe that she would interview a

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Speaker 1: higher quality people for for this book, but you know,

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Speaker 1: she slummed a little bit, interviewed you, included you in

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Speaker 1: the book, but no, man, you have been working from

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Speaker 1: home for a long time. I feel like if anyone

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Speaker 1: knows what they're talking about, it is you and so

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Speaker 1: very kind. Yeah, so I think having you in the

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Speaker 1: book as an example as one of the people that

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Speaker 1: she highlights, it makes a lot of sense. Man, it's

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Speaker 1: somewhat appropriate. Yeah, that's essentially what you know. What we

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Speaker 1: did is we kind of talked about some of the

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Speaker 1: tactics and ways that I've gone about working from home

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Speaker 1: for you know, the past twelve years now. But if

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Speaker 1: that's topic interests you, would recommend for you to check

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Speaker 1: out her book and we'll link to the Kindle and

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Speaker 1: she's got an audiobook version available as well, and will

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Speaker 1: link to those in our show notes. As any good

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Speaker 1: podcasters should, they should have a good audio book. To

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Speaker 1: a company their print book. Right, yeah, yeah, all right, Matt,

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Speaker 1: let's get on to our Friday flight. It's a quick

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Speaker 1: sampling of stories that we have found interesting this week.

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Speaker 1: And the first thing I wanted to bring up is

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Speaker 1: that there's a new smartphone in town, the new Google

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Speaker 1: Pixel four A. It's finally arrived and at a lower

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Speaker 1: price point than the three A did last time when

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Speaker 1: it was launched. Nice man, And what's funny is that

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Speaker 1: it's the four A, but when you say it quickly,

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Speaker 1: it makes it sound like four A. Yeah, exactly, but

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Speaker 1: I kind of like that. Yeah, So this is supposed

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Speaker 1: to be just an awesome phone based on all the reviews,

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Speaker 1: and for three or fifty bucks. Man, it's it's basically

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Speaker 1: got a bunch of like flagship features that I think

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Speaker 1: people are going to be interested in. What about you, man,

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Speaker 1: are you gonna kind of join the ranks? Well, every

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Speaker 1: time the new phone, every time I hear about a

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Speaker 1: new phone like this being released, it must be just

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Speaker 1: my brain playing tricks on me. It feels like my

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Speaker 1: phone's glitchier than normal and that it's acting interest a

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Speaker 1: little bit. Yeah, and I'm like, oh, we a should

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Speaker 1: get that one, And if I'm gonna get any phone,

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Speaker 1: I'll be honest, that's the one I'm gonna get. It's

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Speaker 1: incredibly well priced, It's got the features I'm looking for,

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Speaker 1: including like a better camera. That's one thing that I

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Speaker 1: would I would like in a new phone at some point.

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Speaker 1: Um So yeah, I don't know. We'll see if it's

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Speaker 1: as good as the reviews make it sound. I see

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Speaker 1: myself buying this phone at some point in the future,

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Speaker 1: But for right now, I think my phone is is

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Speaker 1: doing just fine. You're gonna try to resist that urge

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Speaker 1: for a little bit longer, huh exactly. But you know,

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Speaker 1: if there's folks out there an you do need a

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Speaker 1: new phone, it could certainly be a good option for

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Speaker 1: many folks, especially as some retailers will historically they'll offer

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Speaker 1: it for a limited period with a hundred dollar discount. Yeah,

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Speaker 1: or like a gift card thrown in there to listen

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Speaker 1: to pain at that three price point, sweeten that deal.

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Speaker 1: Amazon and Best Buy they both did this last year

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Speaker 1: with a Pixel four and Joel. You know, while we're

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Speaker 1: talking about cell phones, we should mention Mint Mobile, where

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Speaker 1: their monthly service costs just fifteen bucks a month, and

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Speaker 1: that includes five G service. Uh, so, you know, whenever

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Speaker 1: five G phones start rolling out, which by the way,

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Speaker 1: this four A is not a five G phone, but

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Speaker 1: nobody's making five G phones yet, but they're you know,

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Speaker 1: rolling out those networks, and when five G phones become available,

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Speaker 1: you'll have that extra speed. Cutting down your cell phone

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Speaker 1: bills is one of the easy ways that so many

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Speaker 1: people can reduce what they spend every single month. And

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Speaker 1: so we'll link to the MIT mobile plan that you

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Speaker 1: and I that we've had for the past year. Man,

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Speaker 1: we've really enjoyed it. Will link to that in our

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Speaker 1: show notes as well. Can I think part of my

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Speaker 1: husband cy too in getting maybe the newest Google phone

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Speaker 1: is that it's not five G right and five coming soon?

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Speaker 1: You kind of want to hold off for the new technology.

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Speaker 1: But the thing is it's gonna come at a premium,

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Speaker 1: you know, and and the phones are gonna cost more

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Speaker 1: to like they've announced to the Google Pixel that's gonna

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Speaker 1: have five G, but it's gonna cost more money, exactly.

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Speaker 1: And so even if it's available to you, are you

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Speaker 1: gonna want to pay those premium prices for just a

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Speaker 1: little bit more speed? Yeah? I don't know. I don't

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Speaker 1: think you will know You're probably right. I'm totally willing

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Speaker 1: to pay less for an inferior service like that is

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Speaker 1: something that I don't mind, Like I prioritize price over

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Speaker 1: getting the top tier or highest end thing. And well

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Speaker 1: that's the thing too. We spend so much of our time,

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Speaker 1: you know, covered by WiFi and even four g l

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Speaker 1: t E. It's it's pretty dang fast, you know, Like

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Speaker 1: there's not much that I need to do on my

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Speaker 1: phone that I can't accompan us with twenty to thirty

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Speaker 1: megabits per second. You know, I'm not like streaming four

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Speaker 1: K movies on my iPhone se and this is the

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Speaker 1: first generation sc by the way, your old school man,

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Speaker 1: I'm proud to say I've got like a five year

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Speaker 1: old phote at this point. Now it's impressive. And yeah,

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Speaker 1: I will say, people always overestimate what they need. Most

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Speaker 1: Americans don't use more than three gigs of data in

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Speaker 1: a month, but yet they buy the plan that has

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Speaker 1: more when they can be saving money just by using less,

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Speaker 1: especially because, like you said, most people are covered by

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Speaker 1: WiFi most of the time. So true. All right, Matt,

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Speaker 1: let's talk about the investing gold rush right now, there's

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Speaker 1: just so much gold investing rush. Yeah, either way you

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Speaker 1: want to say it, right now works. There's so much

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Speaker 1: buzz right now about investing in precious metals. Gold prices

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Speaker 1: there at all time highs because gold is considered a

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Speaker 1: safe haven investment for for everybody in uncertain times. That's

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Speaker 1: what it's thought of, right and as inflation worries increase,

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Speaker 1: it makes gold this even more attractive investment for lots

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Speaker 1: of people. But Matt, I think it's important for you

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Speaker 1: and I to mention that our listeners should be aware

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Speaker 1: about all the hypes surrounding gold right now. Right we

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Speaker 1: think it's best viewed as an insurance policy in your portfolio,

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Speaker 1: not as an investment that you're turning to for meaningful

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Speaker 1: growth through the decades. And if you do feel compelled

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Speaker 1: to own gold, then we would advocate making sure that

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Speaker 1: it's only a really, really small percentage of your portfolio,

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Speaker 1: like five percent or less. And there are a lot

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Speaker 1: of people saying the gold should make up twenty thirty

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Speaker 1: or more percent of your portfolio right now. That's the

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Speaker 1: place to beat. And haven't you've seen what the prices

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Speaker 1: have been doing. But gold is a hedge, it's a

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Speaker 1: safe haven and it's not there to provide you with

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Speaker 1: meaningful returns over the years. Yeah, and there are even

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Speaker 1: more and more infomercials out there. You know, if people

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Speaker 1: trying to convince you to buy gold through their company,

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Speaker 1: and you know, the costs associated with doing so make

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Speaker 1: it almost impossible for them to be a good investment.

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Speaker 1: So if you do want to own a very small

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Speaker 1: amount of gold in your portfolio, we would recommend that

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Speaker 1: you do it through low cost ets that wold gold directly,

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Speaker 1: you know, as bullion or e t F of companies

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Speaker 1: that mine and sell gold. Do make sure to, you know,

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Speaker 1: do your research before you buy. But you can find

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Speaker 1: e t f s like g L D M and

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Speaker 1: bar B A R for you know, these gold ets

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Speaker 1: with expense ratios of less than point to percent. Your

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Speaker 1: goal there is to reduce the fees and the expense

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Speaker 1: associated with owning that gold. Um when you do own

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Speaker 1: some gold, it ensures that your portfolio is less volatile.

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Speaker 1: But that being said, we don't own any gold ourselves,

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Speaker 1: you know, and we would recommend that most of our

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Speaker 1: listeners probably don't need to worry about, you know, getting

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Speaker 1: some gold in their portfolio as well. Yeah, I kind

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Speaker 1: of think about owning gold in your portfolio as like

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Speaker 1: almost a bet against the ingenuity and creativity of our

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Speaker 1: country and of the world. Right, if you're widely diversified

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Speaker 1: in massive amount of companies American companies, worldwide companies through

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Speaker 1: your stock investing, then selling out of that and buying

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Speaker 1: more gold is essentially saying I don't think things are

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Speaker 1: going to be better twenty years from now, and I

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Speaker 1: just don't think that's the case. I don't have that belief.

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Speaker 1: I'm more optimistic than that. But Matt, let's talk about

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Speaker 1: investing a little bit more. Some recent retirement rule changes

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Speaker 1: have made it likely that you're going to see more

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Speaker 1: private equity investment choices inside of your four ohn K

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Speaker 1: available to you in the coming months. And that's another

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Speaker 1: thing that that you and I met were not really

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Speaker 1: big fans of. We don't love the idea of investing

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Speaker 1: hard earned dollars in private equity opportunities. Yeah, we like

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Speaker 1: to stay away from that investing aristocracy. Yeah, the private

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Speaker 1: clubs exactly. Exactly. Yeah, that that's just not something that

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Speaker 1: we're we're into, and we think that most people should

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Speaker 1: avoid that as well. And that's because, uh, the costs

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Speaker 1: associated with in investing in private equity are so much

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Speaker 1: more than investing in publicly traded companies. And Matt, we've

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Speaker 1: talked about that a lot on the show, the impact

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Speaker 1: of fees on a person's long term ability to to

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Speaker 1: build wealth. It just has this massive compounding impact over

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Speaker 1: time that weighs down the amount that you're able to compound.

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Speaker 1: And although you'll hear people tout the increased performance that

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Speaker 1: comes along with these increased costs, well, it's impossible to

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Speaker 1: verify those claims, right, And in fact, studies have shown

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Speaker 1: the private equity returns are pretty much exactly in line

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Speaker 1: with public market returns over the years, and and that

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Speaker 1: basically means you're gonna be paying higher fees for the

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Speaker 1: same returns, which isn't nobody's best interest. Yeah, yeah, man.

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Speaker 1: And you know there are other issues too. You know,

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Speaker 1: basically we're talking about all the reasons you shouldn't dive

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Speaker 1: into private equity, why you shouldn't dive into gold. This

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Speaker 1: episode is like what things you shouldn't be investing in,

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Speaker 1: But some of the other issues with investing with private equity.

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Speaker 1: Liquidity is a major issue. When you invest in private markets,

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Speaker 1: you are often making a commitment to keep your money

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Speaker 1: invested for years to come, sometimes like ten to fifteen years.

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Speaker 1: With traditional index funds, your money is very fluid. You

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Speaker 1: can buy and sell when you want. There's also less

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Speaker 1: transparency in private markets as well. It can be hard

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Speaker 1: to know what you're actually investing in. They don't have

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Speaker 1: to disclose what they're holdings are because they're private, and

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Speaker 1: so in the end, you know, every day investors are

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Speaker 1: now going to see increased choices inside of the frollwing

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Speaker 1: k plans because of these private equity offerings. And you

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Speaker 1: would think that having more choices better, but it really isn't.

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Speaker 1: You know. We're still fans of going the easy, less

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Speaker 1: complicated route with far fewer fees and restrictions when it

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Speaker 1: comes to investing. You and I were all about the

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Speaker 1: free filtered top water that we can get out of

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Speaker 1: our sink, not that expense of Fiji or or Voss

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Speaker 1: your head Voss water before know what I've seen like

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Speaker 1: the bottles, Yeah, the glass bottles looking like twelve bucks

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Speaker 1: a bottle on Amazon. Ridiculous. Yeah, we would not recommend

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Speaker 1: Voss or private equities. Yeah, more choices seems better, right,

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Speaker 1: but it's not always better. And like I think if

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Speaker 1: it as like the all the effect, right when you

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Speaker 1: go into all the there's one catch up, there's one mustard,

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Speaker 1: there's one of everything, and it's actually easier to get

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Speaker 1: in and out of there. I like having fewer choices

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Speaker 1: at the grocery store, and a lot of times that's

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Speaker 1: all you need. You don't necessarily need the fancy catchup,

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Speaker 1: you know. I mean, come on, let's let's just catch

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Speaker 1: up exactly. And so yeah, same thing when it comes

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Speaker 1: to your investment choices. Private equity is something you're gonna

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Speaker 1: be hearing more and more about. You know, maybe if

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Speaker 1: you work for a company, they're gonna send you out

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Speaker 1: an updated list of the funds that you can invest in,

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Speaker 1: and you might see private equity options in there, and

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Speaker 1: you might be tempted to think about it. And we

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Speaker 1: would suggest avoiding it because there are some down size

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Speaker 1: asociated with it and there's just not a whole lot

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Speaker 1: of additional upside. Yeah, And secretly I was hoping that

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Speaker 1: you love Boss because it's actually from Norway. Basically, anything

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Speaker 1: I find out that's from Norway, I try to like

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Speaker 1: present to you as like, hey, don't you like this? Well,

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Speaker 1: you know, honestly, the Norwegians. Man, it's such an expensive country.

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Speaker 1: Everything is expensive there, So it makes sense to me

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Speaker 1: that they're bottled water. They're fancy bottle water would also

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Speaker 1: be like ten times the price of a normal bottle water.

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Speaker 1: But I still love more people there. They go, all right, man,

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Speaker 1: we we have a few more topics that we want

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Speaker 1: to discuss, including small businesses as well as severance pay,

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Speaker 1: and we'll get to all of that right after the break.

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Speaker 1: All right, we're back from the break and we're going

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Speaker 1: to talk about severance pay here in a second. That's

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Speaker 1: something that especially with all of the layoffs that have

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Speaker 1: been happening recently, as we see the unemployment numbers continue

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Speaker 1: to climb, that's something gets on a lot of people's mind,

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Speaker 1: like how do I negotiate that severance package? And we're

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Speaker 1: gonna talk about that coming up. But first, man, let's

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Speaker 1: talk about small businesses. And man, I was just thinking,

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Speaker 1: after reading this article the other day, how sad would

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Speaker 1: the world be? Uh if we didn't have local small businesses? Right,

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Speaker 1: We've talked so many times about all the local small

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Speaker 1: businesses we have in the part of town that we

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Speaker 1: live in. In In Atlanta, and I feel like the cultural

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Speaker 1: makeup of where we live is so much defined by

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Speaker 1: the business owners that set up shop, the pop up

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Speaker 1: businesses that come around from time to time. So much

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Speaker 1: of how I feel about my neighborhood is actually influenced

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Speaker 1: by the people that choose to own and operate businesses there.

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Speaker 1: But it certainly seems like the idea of having fewer

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Speaker 1: small businesses is becoming more and more of a reality

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Speaker 1: in our country. Right there are more than thirty one

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Speaker 1: million small businesses in this country, and they employ roughly

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Speaker 1: half of the workforce. But sadly, many local restaurants, boutiques,

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Speaker 1: and service providers are shuttering for good as the virus

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Speaker 1: is lingering and continuing to hurt the economy. The New

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Speaker 1: York Times actually published an article documenting local second hand

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Speaker 1: stores and that they are having a tough time in

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Speaker 1: particular too. Yeah, a lot of people are afraid of

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Speaker 1: getting sick, even though it's not necessarily documented that you

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Speaker 1: can get sick, you know, by the virus being on

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Speaker 1: an object, right, right, Yeah, for sure. And at the

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Speaker 1: same time, even while these local second hand you know,

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Speaker 1: retail shops are are not doing very well, online ones

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Speaker 1: are crushing it. Online reseller threat Up has seen order

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Speaker 1: volumes increased by between a hundred and a hundred during

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Speaker 1: the pandemic, and we're seeing that trend where online shopping

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Speaker 1: is becoming even more of a go to because of

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Speaker 1: the pandemic, and it's making it even harder for important

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Speaker 1: local small businesses to survive this. Yeah, and as great

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Speaker 1: as it is that these online businesses are doing well,

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Speaker 1: they don't contribute to our local community, to our neighborhoods, right,

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Speaker 1: And so it's good to see though that there are

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Speaker 1: other businesses who are getting creative and finding ways to

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Speaker 1: pivot in order to stay afloat. You know, for instance,

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Speaker 1: we're seeing some restaurants becoming de facto grocery stores. One

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Speaker 1: of our favorite restaurants here in Atlanta is they're selling

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Speaker 1: packs of bacon and beautiful steaks, pre made margarita mixes

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Speaker 1: that they've created. They're finding creative ways to keep the

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Speaker 1: goods flowing through their business, keeping customers happy. Man. There's

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Speaker 1: also another article I saw too about the catering industry,

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Speaker 1: which you know, of course it's been massively impacted. Some

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Speaker 1: are setting up roadside stands to sell the food they create,

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Speaker 1: a lot of folks are doing this with barbecue, one

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Speaker 1: of our favorites, man, But then others they're using their

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Speaker 1: culinary skills to feed hospital workers who are on the

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Speaker 1: front lines thanks to money donated via social media campaigns,

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Speaker 1: and even still others have taken to pop up outdoor restaurants.

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Speaker 1: There are all sorts of ways, man, that different businesses,

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Speaker 1: in particular restaurants that they are pivoting in order to

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Speaker 1: to make sure that they can kind of weather the

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Speaker 1: storm that we're in. Yeah, man, And being an entrepreneur,

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Speaker 1: especially in the food industry, it's never easy, but it's

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Speaker 1: like so heartening to see that despite these massive amounts

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Speaker 1: of difficulty, so many are finding a way to make

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Speaker 1: ends meet, despite the challenges. And so, yeah, I think

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Speaker 1: you and I we would challenge people to support their

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Speaker 1: local businesses and restaurants that are vital to the fabric

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Speaker 1: of their community. We want to see these businesses survive

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Speaker 1: and not only just survive the pandemic, but thrive and

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Speaker 1: ultimately have a customer base that that walks alongside them

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Speaker 1: through this time. And of course everyone's been affected differently,

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Speaker 1: but if you have a pretty strong financial footing, right

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Speaker 1: now try your best to contribue be to those small

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Speaker 1: businesses in order to help them make it through this pandemic.

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Speaker 1: I know it might be easier to go and buy

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Speaker 1: those second hand clothes online or to do a quick

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Speaker 1: order on a major retailer online, but maybe think again

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Speaker 1: before you actually you click to buy, and think about

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Speaker 1: a small business that you might be able to support

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Speaker 1: in this time, even if it means spending a little

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Speaker 1: bit more, because those businesses are like this crucial building

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Speaker 1: block of our local economies and like we said, that

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Speaker 1: fabric of our communities. Yeah, it's a small inconvenience for

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Speaker 1: us to pay to just throw a mask on, get

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Speaker 1: out there and make a purchase in person during this pandemic. Man.

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Speaker 1: And another effect, actually other pandemic is that job losses. Man,

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Speaker 1: they continue to pile up. And a very real consideration

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Speaker 1: if if you've lost your job, is severance pay if

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Speaker 1: you have one of those fancy jobs. So let's go

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Speaker 1: ahead and talk about that, man. Depending on the company

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Speaker 1: you work for and how long you've worked there, you

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Speaker 1: might or might not receive a severance package on your

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Speaker 1: way out the door. You'll typically have two or three

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Speaker 1: weeks too to look over any sort of severance package

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Speaker 1: that has been putting your hands, you know, before you

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Speaker 1: have to make a decision. So this isn't necessarily something

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Speaker 1: you have to rush in and immediately make a decision on. Yeah,

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Speaker 1: although your employer might hand you the package and be

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Speaker 1: like staying there and look at you. What you think

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Speaker 1: you want to sign it right now? And that's just yeah,

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Speaker 1: you don't want to be in that position you with

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Speaker 1: this bonus now, don't you. Yeah, you're like, actually, can

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Speaker 1: you give me a minute to think it over? And

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Speaker 1: by a minute, I mean like a week to read

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Speaker 1: to actually read over everything. Yeah, exactly. And let's talk

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Speaker 1: a little more about severance packages, right. It's important for

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Speaker 1: people to know that they can actually negotiate the particulars

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Speaker 1: of the package that they're receiving. Not every employer is

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Speaker 1: gonna budge, but it's worth pushing back in certain areas

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Speaker 1: to either receive a larger payout or maybe to stay

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Speaker 1: on your company's insurance for a longer period of time.

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Speaker 1: Since severance packages typically aren't legally required in most states,

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Speaker 1: they're just not. It's less about knowing your rights, and

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Speaker 1: it's more about knowing your worth and discussing that amicably

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Speaker 1: with your employer, maybe like highlighting some of the contributions

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Speaker 1: that you've made to the company over the years, and

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Speaker 1: I think doing that in a friendly way that can

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Speaker 1: increase the odds that you can get a better offer

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Speaker 1: out of them as you depart. It might be helpful

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Speaker 1: to ask other former employees during that week or two

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Speaker 1: while you're thinking it over, who you're friendly with, asking

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Speaker 1: them what they received and maybe how they were able

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Speaker 1: to negotiate something different or better. But it's just important

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Speaker 1: to note that that that initial serverance offering is really

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Speaker 1: a starting point that can allow you to negotiate something

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Speaker 1: even better for yourself if you're willing to do your

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Speaker 1: homework and put in the work. It could also be

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Speaker 1: helpful to to consult an attorney who can provide some

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Speaker 1: negotiation assistance. Right There might be other strings attached to

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Speaker 1: the serverance package, like a noncompete or a confidentiality agreement,

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Speaker 1: and so it's worth keeping in mind if you plan

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Speaker 1: to keep working in that same field, make sure that

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Speaker 1: the noncompete is not a part of the final package.

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Speaker 1: It's important to know what you're signing um, and you

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Speaker 1: know you might even be able to negotiate another month

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Speaker 1: or two in salaried work so you can complete projects

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Speaker 1: you're working on, so it doesn't feel like you just

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Speaker 1: kind of up and left. It's nice to have a

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Speaker 1: little bit of closure there at the end of that stint. Yeah,

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Speaker 1: and a couple of other little particulars about serverance packages

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Speaker 1: that can make a difference on maybe what you ask

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Speaker 1: for or how you go about it. It's important to

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Speaker 1: note that severance pay is taxable, so take that into

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Speaker 1: consideration and hold some of that money that you receive

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Speaker 1: as a payout in reserve for when you have to

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Speaker 1: file your taxes next year. Also, the amount and length

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Speaker 1: of severance pay will have an impact on your ability

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Speaker 1: to collect unemployment since severance is considered remuneration, what you

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Speaker 1: make over those months that you're still being compensated by

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Speaker 1: your former employer is gonna make it harder for you

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Speaker 1: to qualify for unemployment. And we're still waiting to see

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Speaker 1: whether federal unemployment benefit is is going to remain in

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Speaker 1: addition to the state benefit. Are elected leaders continue to

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Speaker 1: take their sweet time, But it is important to note

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Speaker 1: that you won't be able to collect on unemployment surance

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Speaker 1: if you're making over a certain amount, and oftentimes that

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Speaker 1: severance pay will prevent you from receiving that additional benefit.

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Speaker 1: That's right, you may not qualify for that benefit. Man.

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Speaker 1: And one last thing, Man, you know, we appreciate each

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Speaker 1: and every one of our listeners and we want to

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Speaker 1: ask you to pay it forward. We want you to

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Speaker 1: be the friend who helps your friend circle when it

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Speaker 1: comes to personal finances. Now, even if you don't know

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Speaker 1: it's onne, you probably know more than many of your

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Speaker 1: friends do, and you know they might be into a

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Speaker 1: podcast like this one, but often it's easier to accept

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Speaker 1: some some easy going guidance from a good friend. Maybe

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Speaker 1: you know, at least at first, we want you to

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Speaker 1: kind of start that conversation as a lot of folks

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Speaker 1: have questions during these kind of unpredictable times that we're in.

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Speaker 1: And you know, as finances have gotten more complicated over

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Speaker 1: the years, you know, at least having access to too solid,

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Speaker 1: free financial help at your fingertips has increased. That's something man,

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Speaker 1: that I'm proud that you and I are able to

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Speaker 1: to do for folks. Is like our our goal and

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Speaker 1: mission is for folks to you know, walk away from

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Speaker 1: our episodes knowing more about their personal finances than they

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Speaker 1: than they did before. Yeah, for sure. And I think

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00:19:38,119 --> 00:19:40,560
Speaker 1: too it's important to note that when your friends are

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Speaker 1: in trouble, they're not always gonna telegraph it, and they're

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00:19:43,480 --> 00:19:45,480
Speaker 1: not always going to come up to you and say, hey,

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00:19:45,520 --> 00:19:47,320
Speaker 1: I've got this question, or can you help me with this.

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Speaker 1: Oftentimes you'll find out, and maybe more of a roundabout way,

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00:19:51,200 --> 00:19:53,280
Speaker 1: that your friend is having a tough time with money.

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Speaker 1: They might just briefly mention that their small business isn't

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00:19:56,960 --> 00:19:59,840
Speaker 1: doing so well right now, or that their employer just

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00:20:00,040 --> 00:20:02,080
Speaker 1: cut pay across the board, and they're like, oh, man,

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00:20:02,119 --> 00:20:04,720
Speaker 1: that sucks, right, But little do you know that that

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00:20:04,840 --> 00:20:07,240
Speaker 1: pay cut has caused them to not be able to

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00:20:07,280 --> 00:20:10,400
Speaker 1: pay important bills in their life. Um, and I feel

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00:20:10,400 --> 00:20:12,359
Speaker 1: like that comment can be the opening for us to

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Speaker 1: provide some help to a friend, right. We actually talked

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00:20:14,680 --> 00:20:17,120
Speaker 1: about this back end episode to twelve, so you can

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00:20:17,320 --> 00:20:19,560
Speaker 1: check that out. But there's so much power in having

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Speaker 1: money conversations with your friends and family, and in many cases,

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Speaker 1: it's just more important to have those conversations right now,

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Speaker 1: especially if you can be of service of benefit, and

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Speaker 1: that's typically how we listen. The best is to someone

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Speaker 1: close to us, not preaching at us, but coming alongside

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Speaker 1: us and offering us, you know, some friendly helps, some

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Speaker 1: friendly advice. Yeah, man, that's right. And so again we're

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Speaker 1: gonna ask all of our listeners out there to kind

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Speaker 1: of further that personal finance, that money conversation with your

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Speaker 1: friends and Joel, you know, I think that's gonna be

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Speaker 1: it man for this episode. Our listeners can find all

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00:20:48,200 --> 00:20:50,240
Speaker 1: of our show notes up on our website at how

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00:20:50,320 --> 00:20:52,120
Speaker 1: some money dot com, and that's gonna be it man.

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Speaker 1: So until next time, Best Friends Out, Best Friends Out,

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Speaker 1: m