WEBVTT - Friday Flight - EV Breakthroughs, Early Retirement Downsides, and Pricey Dumbbells #261 0:00:00.080 --> 0:00:03.120 Welcome to How the Money. I'm Joel and I and Matt, 0:00:03.320 --> 0:00:07.280 and today we're discussing e V breakthroughs, early retirement downsides, 0:00:07.520 --> 0:00:30.200 and pricey dumbbells. How's it going? Many do it? I'm great. 0:00:31.800 --> 0:00:34.199 We've got a beautiful morning. I mentioned that because of 0:00:34.240 --> 0:00:36.479 the past few days have actually been pretty rainy, and 0:00:36.840 --> 0:00:39.040 you've been sticking it out. I noticed you continued to 0:00:39.159 --> 0:00:42.080 bike over here to the uh our little basement studio 0:00:42.240 --> 0:00:43.559 you got you know, you had your bike, but then 0:00:43.560 --> 0:00:45.319 you had your wet weather gear on as well. You're 0:00:45.360 --> 0:00:47.919 committed to the bike hustle, dude. Yeah, it's I mean 0:00:48.120 --> 0:00:50.159 that that gear is so clutch for being able to 0:00:50.200 --> 0:00:52.440 ride through the rain, and especially when it's sprinkling, It's 0:00:52.560 --> 0:00:55.400 it's like no brainer. It's not a big deal. Sometimes 0:00:55.520 --> 0:00:58.440 if it's raining super hard, it's hard to see or 0:00:58.760 --> 0:01:01.200 you get soaked any way. But yeah, it doesn't matter 0:01:01.240 --> 0:01:02.640 what kind of gear you have on if it's pouring 0:01:03.280 --> 0:01:05.480 and you're still gonna get completely drenched. But yeah, like 0:01:05.520 --> 0:01:08.360 with a drizzle, having a nice jacket somebot light weather 0:01:08.440 --> 0:01:12.040 gear is easily enough to to keep you dry, especially 0:01:12.040 --> 0:01:13.920 as the weather is cooling down a little bit. Now, uh, 0:01:14.240 --> 0:01:15.880 you know, the cooler temperatures plus a little bit of 0:01:15.920 --> 0:01:18.319 water can really chill you to the bone if you 0:01:18.360 --> 0:01:21.240 don't have the proper gear. So that's true. Well all right, 0:01:21.280 --> 0:01:25.000 so speaking of biking, I broke down and bought my wife. 0:01:25.040 --> 0:01:28.200 We we ended up person a spin bike a stationary 0:01:28.200 --> 0:01:30.360 bike for Tide, which is funny because we joked about 0:01:30.360 --> 0:01:33.800 this on Wednesday's episode about about you splurging on you know, 0:01:33.959 --> 0:01:37.640 his and hers peloton. Yeah, but you know Emily wants 0:01:37.640 --> 0:01:39.399 you to ride next to her on a two thousand 0:01:39.440 --> 0:01:41.640 dollar bids It's not gonna happen. So yeah, we definitely 0:01:41.680 --> 0:01:44.640 went non peloton because those things are crazy expensive and 0:01:44.680 --> 0:01:47.240 almost have like this cult like following, and I understand 0:01:47.240 --> 0:01:49.560 like they make a great product, people are into it. Um. 0:01:49.600 --> 0:01:52.120 But but we ended up going to play it against sports, 0:01:52.880 --> 0:01:55.360 which is did not know that those still exist. Maybe 0:01:55.400 --> 0:01:57.480 they still exist, and actually I think they're actually doing 0:01:57.480 --> 0:02:00.680 well through the pandemic because people are into outdoor gear 0:02:00.720 --> 0:02:02.720 and workout equipment and stuff like that. So I went 0:02:02.760 --> 0:02:05.720 to our nearest played against sports. Um got an awesome 0:02:05.800 --> 0:02:09.880 spin bike for Emily and she's super into it, super excited, 0:02:09.919 --> 0:02:12.519 and the great thing I think we talked about um 0:02:12.600 --> 0:02:14.960 on on Wednesday's episode was maybe cutting back on a 0:02:15.000 --> 0:02:17.680 gym membership, and that's something we've done. So we were 0:02:17.760 --> 0:02:20.440 members of the y m c A. My wife really 0:02:20.480 --> 0:02:22.840 loves going there, and so that was that was something 0:02:22.880 --> 0:02:24.400 that we were like, all right, well, how many months 0:02:24.480 --> 0:02:27.239 of the y membership will you know this this spin 0:02:27.320 --> 0:02:29.080 bike cost? And so all right, we got to cancel 0:02:29.160 --> 0:02:31.280 the membership for at least at least that many months. 0:02:31.440 --> 0:02:33.840 Who knows when or if we'll be going back to 0:02:33.880 --> 0:02:36.120 the y m c A. UM, but yeah, like she's 0:02:36.280 --> 0:02:37.959 loving the spin bike and working out at home, and 0:02:38.000 --> 0:02:41.280 I gotta say too, there are so many free ways 0:02:41.320 --> 0:02:43.799 that you can get workouts for your bike. You don't 0:02:43.840 --> 0:02:47.200 have to pay for a monthly subscription to something like peloton. Um, 0:02:47.240 --> 0:02:50.920 there's free workout videos on YouTube, YouTube on Facebook. Like 0:02:50.960 --> 0:02:52.799 her her favorite spin instructor at the y m c 0:02:52.919 --> 0:02:55.800 A is like releasing free workout videos on Facebook. Yeah, 0:02:55.840 --> 0:02:58.639 that's aw well. On the note of spin Bike's team, 0:02:58.639 --> 0:03:01.560 did you see that it was on actually didn't release 0:03:01.639 --> 0:03:04.920 a prime bike. I did see that it's a company 0:03:05.040 --> 0:03:07.360 had created this bike, and they claimed that it was 0:03:07.760 --> 0:03:09.880 this is maybe a couple of weeks ago, maybe he 0:03:10.000 --> 0:03:12.480 made in conjunction with Amazon, but yeah, exactly, it was 0:03:12.520 --> 0:03:15.080 like this partnership thing, and they called it the Prime Bike, 0:03:15.480 --> 0:03:18.440 and when they released that, people went crazy, and actually 0:03:18.480 --> 0:03:22.200 I think I saw that the Peloton stock like drops 0:03:22.240 --> 0:03:24.360 because of the fear of the competition. But it turns 0:03:24.360 --> 0:03:26.880 out that was a lie. That actually wasn't the case, 0:03:26.919 --> 0:03:30.160 and Amazon quickly put out a statement saying that like, no, 0:03:30.280 --> 0:03:32.519 we didn't yeh. By late that morning, it was like 0:03:32.520 --> 0:03:34.720 pulled off the website. Yeah, which is so funny. But 0:03:34.880 --> 0:03:37.120 I find it really interesting though, how the generic brand 0:03:37.200 --> 0:03:40.160 of of Prime right via Amazon, how it carries so 0:03:40.240 --> 0:03:42.800 much weight with it. You know how when we see 0:03:42.800 --> 0:03:45.360 that something's, oh, a Prime Bike, it makes it sound 0:03:45.360 --> 0:03:47.640 like something that's a little more premium, which is at 0:03:47.680 --> 0:03:49.840 least that's how I view it, you know, um, like 0:03:49.880 --> 0:03:51.480 it's something that you can kind of count on. It's 0:03:51.720 --> 0:03:53.520 it's solid, it's not going to be the fanciest, but 0:03:53.560 --> 0:03:55.800 it's going to be really good when it's only available 0:03:55.840 --> 0:03:58.360 for if you are a Prime member, and we are 0:03:58.440 --> 0:04:01.000 of course, yeah yeah, And so I think, I don't know, 0:04:01.040 --> 0:04:03.160 that just speaks to how well they've positioned their own 0:04:03.200 --> 0:04:06.560 products and how much you know that name prime, how 0:04:06.640 --> 0:04:09.320 much that can sway consumers and and and just attitudes 0:04:09.400 --> 0:04:12.000 towards their products. But but yeah, all that's yeah, it's 0:04:12.000 --> 0:04:15.040 a farce. It's true reality. But it is interesting to 0:04:15.080 --> 0:04:18.279 note that if Amazon does you know, now, maybe they're thinking, 0:04:18.760 --> 0:04:21.960 maybe we will great one and uh, Pelaton better beware 0:04:22.000 --> 0:04:24.320 if that happens, because it's going to eat into their sales. 0:04:24.360 --> 0:04:27.279 All right, let's get into our Friday flight sampling of 0:04:27.320 --> 0:04:30.400 stories that we found interesting this week, stories that impact 0:04:30.600 --> 0:04:34.480 our personal finances. And speaking of exercise, um, it's been 0:04:34.520 --> 0:04:38.040 really interesting to see how expensive or out of stock 0:04:38.080 --> 0:04:41.400 and basic workout equipment has become. I think that's another 0:04:41.400 --> 0:04:43.840 reason why I played against sports has been just kind 0:04:43.839 --> 0:04:47.320 of overrun with with people coming to buy stuff used 0:04:47.360 --> 0:04:50.160 and and and and they sell new stuff too. But 0:04:50.279 --> 0:04:53.400 dumbbells in particular cost so much. It's been interesting to 0:04:53.400 --> 0:04:56.320 see some of the stories that one can you even 0:04:56.360 --> 0:04:58.960 find them and exactly yeah, and then too if you 0:04:59.000 --> 0:05:02.440 can often there on resale sites like eBay and Facebook marketplace, 0:05:02.680 --> 0:05:05.760 and the listings are for five, six, seven times the 0:05:05.800 --> 0:05:09.040 price of what they typically normally cost because the supply 0:05:09.200 --> 0:05:12.520 is almost non existent. Um so, uh, we got one 0:05:12.560 --> 0:05:14.760 thing that we've been doing because Emily has like one 0:05:14.760 --> 0:05:16.599 set of dumbells that she's had for for quite a 0:05:16.600 --> 0:05:18.480 while and says, we only have one set, and when 0:05:18.480 --> 0:05:20.800 we're working out together, I'm just using our one year 0:05:20.800 --> 0:05:24.400 old as like, yeah, so lifting him up and down, 0:05:24.440 --> 0:05:26.560 doing some curls with him, and so I'm sure he 0:05:26.640 --> 0:05:28.280 enjoys that as well. Yeah, it's kind of fun. It's 0:05:28.320 --> 0:05:30.280 kind of fun, So use what you got and don't 0:05:30.320 --> 0:05:33.080 necessarily pay five times as much for dumbbells then what 0:05:33.240 --> 0:05:34.880 you know what they're worth. Yeah, And like, there are 0:05:34.880 --> 0:05:37.080 so many exercises as well that you can do with 0:05:37.120 --> 0:05:40.200 your own body weight master, like just like burpies in particular, 0:05:40.440 --> 0:05:42.000 like the high jumping burpee I think is what you 0:05:42.040 --> 0:05:43.640 call it, But that's where you do a burpie, but 0:05:43.680 --> 0:05:45.520 you you jump up as high as you can and 0:05:45.560 --> 0:05:47.280 when you drop down you do a push up. But man, 0:05:47.320 --> 0:05:49.040 you do like ten twenty of those. Do a few 0:05:49.080 --> 0:05:50.800 sets of those like that will seriously get your heart 0:05:50.880 --> 0:05:52.760 rate up. But I mean, I'm with you regarding the dumbells. 0:05:52.800 --> 0:05:55.040 We uh, I think maybe back in January I purchased 0:05:55.240 --> 0:05:58.080 like a forty five pound kettle bell just to be 0:05:58.120 --> 0:06:00.360 able to do some swings, you know, to keep a 0:06:00.400 --> 0:06:04.560 strong back. And Kate realized several months ago, She's like, yeah, 0:06:04.560 --> 0:06:06.440 that's something I want to do as well, and so 0:06:06.480 --> 0:06:08.920 I went looking for a kettle bell that was more 0:06:08.960 --> 0:06:12.719 appropriate for her strength. Dude, they don't even sell them anymore. 0:06:12.800 --> 0:06:15.120 It was an Amazon product. It was like Amazon Prime, 0:06:15.440 --> 0:06:18.480 vinyl coded Amazon Basics. Yeah, yeah, basics maybe, but it 0:06:18.560 --> 0:06:21.279 was just a vinyl coded kettle bell. And they're not 0:06:21.320 --> 0:06:23.760 even making them anymore because I think just because of 0:06:23.920 --> 0:06:26.120 you know, supply chain issues, but so it's difficult to 0:06:26.160 --> 0:06:27.760 kind of get your hands on them, you know, and 0:06:27.760 --> 0:06:29.400 and and no to that, you know. I think this 0:06:29.480 --> 0:06:32.160 is the case where shopping secondhand maybe could even cost 0:06:32.200 --> 0:06:35.000 you more because of the topsy turvy market we're in. 0:06:35.120 --> 0:06:37.120 You know, it all comes down to supply and demand. 0:06:37.200 --> 0:06:39.080 There's not a lot of supply. There is a ton 0:06:39.080 --> 0:06:40.760 of demand for folks wanting to work out at home. 0:06:41.080 --> 0:06:43.240 So if you're looking for some weights, typically would recommend 0:06:43.279 --> 0:06:46.000 for folks go to like the Facebook marketplace, but you 0:06:46.080 --> 0:06:49.680 actually might find the prices there to be sky high. 0:06:49.760 --> 0:06:51.400 And so I think this might be a case we're 0:06:51.400 --> 0:06:54.120 waiting for more stock to arrive at retailers or you know, 0:06:54.160 --> 0:06:55.800 shopping out a place like like you did, man like 0:06:55.800 --> 0:06:58.360 played against sports. We'll we'll help folks to avoid the 0:06:58.720 --> 0:07:01.680 crazy costs that into jewels are charging these days. Yeah, 0:07:01.720 --> 0:07:04.760 and and look for Matt's new YouTube channel workout video. 0:07:04.880 --> 0:07:07.480 Richard Simmons like workout videos. That's gonna be it's gonna 0:07:07.480 --> 0:07:08.960 be great. If you get me a leotard like that, 0:07:09.000 --> 0:07:11.760 I will wear it. People will love it. Yeah, I 0:07:11.800 --> 0:07:14.720 think you're gonna gain a massive following. Let's get onto 0:07:14.720 --> 0:07:17.440 the to the next story we found interesting this week, Matt, 0:07:17.480 --> 0:07:21.040 California has banned new gas powered cars by the year. 0:07:22.160 --> 0:07:24.200 That means fifteen years from now, you won't be able 0:07:24.280 --> 0:07:28.040 to buy a new gas powered car in the entire state. Now, 0:07:28.080 --> 0:07:31.200 this won't prevent people from owning, selling, or buying used 0:07:31.280 --> 0:07:34.160 gas powered vehicles in California. Um. And it's a move 0:07:34.240 --> 0:07:37.440 that I think will accelerate the adoption of electric vehicles 0:07:37.920 --> 0:07:40.760 in our entire country. And I say country because California 0:07:40.800 --> 0:07:43.520 has so much power based on their sheer population size, 0:07:43.720 --> 0:07:46.560 They're they're like like twelve of the overall population of 0:07:46.600 --> 0:07:49.960 the US. Um So, any decision that's made in the 0:07:50.000 --> 0:07:52.960 state of California has this domino like effect of what 0:07:53.040 --> 0:07:55.600 happens to like the automotive industry in this case as 0:07:55.600 --> 0:07:58.360 a whole. And I just see this decision in particular 0:07:58.640 --> 0:08:02.040 leading a lot of Mania actors to start rethinking their 0:08:02.040 --> 0:08:04.360 plans for the next couple of decades of what cars 0:08:04.360 --> 0:08:06.720 they're planning to manufacture and moving hard in the e 0:08:06.800 --> 0:08:09.040 V direction. Yeah, something else too that I think we'll 0:08:09.040 --> 0:08:12.240 propel it along is in addition to this California state law, 0:08:12.360 --> 0:08:15.240 Tesla battery breakthroughs are gonna also help to push down 0:08:15.480 --> 0:08:19.880 the prices of electric vehicles. Man prices have already plummeted significantly. 0:08:20.160 --> 0:08:23.160 A story in Ours Technica showed that over the past 0:08:23.160 --> 0:08:27.640 ten years, the cost of batteries has dropped nearly So 0:08:27.640 --> 0:08:30.280 when a large portion of an electric vehicles cost is 0:08:30.320 --> 0:08:32.880 the battery is the technology that goes into its power, 0:08:33.200 --> 0:08:36.000 big improvements on that technology can really bring down the cost, 0:08:36.480 --> 0:08:38.480 and more innovation is is on the way to According 0:08:38.480 --> 0:08:40.120 to Elon Musk, you know, we're we're set to see 0:08:40.120 --> 0:08:43.680 twenty five dollar tesla's just three years from now, which 0:08:43.760 --> 0:08:47.200 is an incredible sign that evs will will quickly become 0:08:47.240 --> 0:08:50.200 the new vehicle of choice for for many Americans the 0:08:50.240 --> 0:08:52.720 near future. Yeah, I feel like I read so many 0:08:52.760 --> 0:08:56.600 stories this week about electric vehicles, about batteries, and just 0:08:56.640 --> 0:08:59.800 to see kind of what's happening in that space. Ten 0:09:00.080 --> 0:09:02.920 ars from now, fifteen years from now, for sure, I 0:09:02.960 --> 0:09:05.560 can't imagine many of us will be considering buying a 0:09:05.640 --> 0:09:09.240 new gas powered vehicle. And on top of that, Consumer 0:09:09.280 --> 0:09:11.880 Reports just published their own research that they did that 0:09:11.920 --> 0:09:14.720 shows that the maintenance cost for an electric vehicle are 0:09:14.840 --> 0:09:17.360 less than half of that for a gas powered vehicle, 0:09:17.880 --> 0:09:21.400 and specifically, consumers who purchase an electric car can expect 0:09:21.400 --> 0:09:24.760 to save an average of four thousand, six d dollars 0:09:24.760 --> 0:09:27.160 in repair and maintenance costs over the life of that 0:09:27.240 --> 0:09:30.360 vehicle compared to a gasoline powered car. So I feel 0:09:30.360 --> 0:09:33.360 like everything I'm reading this week makes e vs come 0:09:33.400 --> 0:09:36.439 out smelling like roses. I've got my Niecean Leaf which 0:09:36.480 --> 0:09:39.959 has a range of like twenty miles. Now it's it's 0:09:40.000 --> 0:09:42.400 degraded over time. It's not that great. But the new 0:09:42.520 --> 0:09:44.959 evs that are coming out and the new battery capabilities 0:09:45.120 --> 0:09:48.440 are just changing the game. They're making people less anxious 0:09:48.440 --> 0:09:51.000 about the range of that vehicle. Um and as the 0:09:51.040 --> 0:09:54.080 costs come down to I mean, evs are quickly becoming 0:09:54.160 --> 0:09:56.600 and quickly will continue to become more of a no 0:09:56.720 --> 0:09:59.040 brainer decision for for a lot of people. I think. Yeah. Know, 0:09:59.080 --> 0:10:00.960 for us though, like the b this issue is range, 0:10:01.040 --> 0:10:03.160 you know, and when we have only one vehicle, we 0:10:03.200 --> 0:10:05.200 want to be able to hop in that vehicle and 0:10:05.559 --> 0:10:07.719 road trip with it essentially. And so for me at least, 0:10:07.760 --> 0:10:10.240 that that's our biggest barrier, is the ability to to 0:10:10.280 --> 0:10:13.440 travel longer distances, you know. But with these battery improvements, 0:10:13.440 --> 0:10:15.560 I see that coming. I see five years from now, 0:10:15.600 --> 0:10:17.959 like the range is going to be greatly improved and 0:10:18.240 --> 0:10:19.760 so like, not only are the costs coming down, the 0:10:19.760 --> 0:10:21.520 batteries are just going to have more capacity and you're 0:10:21.520 --> 0:10:23.240 gonna be able to go further in the car that 0:10:23.240 --> 0:10:24.839 you're buying. Well, if that's the case, then I'm all 0:10:24.840 --> 0:10:26.320 for it. You know, Like if I can drive twelve 0:10:26.320 --> 0:10:29.280 hours in one day basically with very few stops you 0:10:29.320 --> 0:10:30.880 know where you know, kind of just like top off 0:10:30.920 --> 0:10:33.160 the battery a little bit, maybe at a charging station, 0:10:33.400 --> 0:10:35.520 I am for that. But until that's the case, man, 0:10:35.600 --> 0:10:37.720 until that's the reality. I think it's gonna be. Uh, 0:10:37.760 --> 0:10:40.840 we're gonna stick with our old gasoline powered vehicle for maybe, 0:10:40.880 --> 0:10:42.880 I don't know, the next decade or so. I want 0:10:42.880 --> 0:10:44.280 to drive that thing into the ground. I wanted to 0:10:44.320 --> 0:10:47.840 be I wanted to look like my iPhone just battered 0:10:47.880 --> 0:10:51.920 and bruised. Yeah, just crack glass everywhere. I don't know 0:10:51.920 --> 0:10:53.400 if you want that. Yeah, I don't actually want that 0:10:53.400 --> 0:10:56.199 to case, but no, but yeah, I understand what you're saying. 0:10:56.320 --> 0:10:59.160 And Matt. On the note of gasoline driving a gas 0:10:59.160 --> 0:11:02.120 power car, there was an interesting article that I read 0:11:02.160 --> 0:11:05.679 in USA today about states raising gasoline taxes right now 0:11:05.840 --> 0:11:08.640 as gas prices have fallen and demand has fallen. Uh, 0:11:08.720 --> 0:11:10.920 states need to make up revenue in order to pay 0:11:11.400 --> 0:11:14.679 uh to to maintain road systems. In New Jersey just 0:11:14.720 --> 0:11:17.640 made apparently the biggest hike in gas tax of like, 0:11:17.679 --> 0:11:20.120 I think, close to ten cents a gallon. Other states 0:11:20.160 --> 0:11:24.599 recently have implemented increases in the gas tax, like California, Virginia, Nebraska, 0:11:24.679 --> 0:11:28.120 South Carolina, and Alabama. UM. So yeah, just note that 0:11:28.160 --> 0:11:30.360 while gas prices are down, a lot of states are 0:11:30.400 --> 0:11:33.400 increasing their gas tax um. And it's something that you 0:11:33.679 --> 0:11:37.120 might barely even notice. Um, but and I think it's 0:11:37.120 --> 0:11:40.200 like nobody like loves gas prices going up, but it 0:11:40.280 --> 0:11:42.400 is one of these things that is necessary in order 0:11:42.440 --> 0:11:44.719 to continue to maintain the roads for us all to 0:11:44.800 --> 0:11:47.320 drive on. Right. Yeah, man, that's rights. Uh. And so 0:11:47.400 --> 0:11:50.040 let let's talk now about paying for student loans. Google 0:11:50.040 --> 0:11:52.840 announced recently that they will be helping their employees pay 0:11:52.880 --> 0:11:56.520 off their student loans. Man, starting in one Google will 0:11:56.559 --> 0:12:01.160 match in payments towards the student loans of the folks 0:12:01.200 --> 0:12:05.040 who work there. We're seeing more and more companies attempting 0:12:05.040 --> 0:12:08.200 to step up their game helping workers with the burden 0:12:08.280 --> 0:12:11.000 of student loans. I love that this benefit is becoming 0:12:11.240 --> 0:12:13.920 more mainstream. In the past, we've seen different companies step 0:12:14.000 --> 0:12:16.679 up and say pay for some additional education, right, whether 0:12:16.720 --> 0:12:19.440 that be just specific courses or even you know, companies 0:12:19.480 --> 0:12:22.520 paying for an m b A for somebody who works there. 0:12:22.679 --> 0:12:25.720 But to see companies like Google now pay student loans 0:12:25.720 --> 0:12:28.520 that you've already incurred, I think that's a fantastic benefit 0:12:28.559 --> 0:12:31.200 for sure. Yeah. Yeah. Like like when Anthony was on 0:12:31.240 --> 0:12:33.400 the show on Monday, Matt he talked about not taking 0:12:33.400 --> 0:12:35.560 on debt for school, and you and I we agree. 0:12:35.600 --> 0:12:37.960 We'd love to see high school students not take on 0:12:38.080 --> 0:12:40.360 debt for their education, or at least keep it to 0:12:40.559 --> 0:12:42.880 a minimum. But it's also good to see that companies 0:12:42.920 --> 0:12:46.520 are realizing the benefits of partnering in that loan payoff 0:12:46.559 --> 0:12:49.800 with their employees because it has become such a massive burden. 0:12:50.320 --> 0:12:52.199 So if you do have student loan debt and you're 0:12:52.200 --> 0:12:55.360 interviewing for a new job, look at additional non salary 0:12:55.400 --> 0:12:58.280 benefits that are being offered by your company and advocate 0:12:58.320 --> 0:13:01.960 for yourself and negotiate your higher compensation package. It's not 0:13:02.000 --> 0:13:04.520 always about that bottom line number of what this about 0:13:04.520 --> 0:13:07.800 the salary, because those intangibles, those extra benefits that a 0:13:07.800 --> 0:13:11.000 company offers can add up to thousands and thousands of 0:13:11.040 --> 0:13:14.640 dollars in additional benefits that can be really, really meaningful. 0:13:15.120 --> 0:13:17.360 It makes that interviewing process maybe a little more complicated, 0:13:17.559 --> 0:13:19.920 but man, we live in a complicated world. That's true. 0:13:20.640 --> 0:13:23.880 All the note of paying for college, filling out the FAFSA, 0:13:24.160 --> 0:13:27.079 uh Man, that is even more important right now, specifically 0:13:27.160 --> 0:13:29.040 this year. If you're going to be a student, or 0:13:29.120 --> 0:13:33.280 if you have a student in college for two academic year, 0:13:33.880 --> 0:13:36.080 the information that you used to fill out the FASTA 0:13:36.240 --> 0:13:39.240 this year will be based on twenty nineteen taxes, which 0:13:39.320 --> 0:13:42.480 is obviously before many of us were impacted by the shutdowns, right, 0:13:42.840 --> 0:13:45.800 and so any financial aid should be based on your 0:13:45.840 --> 0:13:48.520 current situation, not last year's. So make sure that you 0:13:48.559 --> 0:13:52.000 file early because you'll need time to then request a 0:13:52.040 --> 0:13:55.720 professional judgment. Oh and then people might be wondering, what's 0:13:55.720 --> 0:13:58.960 a professional judgment? Professional judgment, I'm a professional judge or so, 0:13:59.080 --> 0:14:02.360 like you know, no, not but uh, what what that is? 0:14:02.400 --> 0:14:04.960 What that means is is when you contact a financial 0:14:05.000 --> 0:14:07.560 aid office at any of the schools you're applying to 0:14:07.960 --> 0:14:10.400 in order to submit up to date information that would 0:14:10.440 --> 0:14:13.679 give the school the clearest picture of your financial situation, right, 0:14:13.720 --> 0:14:16.720 information like if you if you've been laid off or furloughed, 0:14:17.080 --> 0:14:22.720 those notices, unemployment checks, or medical bills that you've incurred. Basically, 0:14:22.760 --> 0:14:25.320 any of these documents that are going to help clear 0:14:25.440 --> 0:14:28.560 up what your current financial situation is could help you 0:14:28.640 --> 0:14:32.840 qualify for more assistance than what your FASTEST shows. Because again, 0:14:32.880 --> 0:14:35.480 like Matt said, we're talking about last year's numbers on 0:14:35.520 --> 0:14:37.760 the fast STA, but things have changed quite a bit 0:14:37.840 --> 0:14:40.080 this year. And so yeah, you need to file early 0:14:40.280 --> 0:14:43.000 so you can request that professional judgment, and if your 0:14:43.040 --> 0:14:45.120 situation is drastically changed, you should be able to find 0:14:45.280 --> 0:14:48.160 a lot more financial aid resources. That's right, man. All Right, 0:14:48.200 --> 0:14:50.120 We've got a few more stories to get to after 0:14:50.160 --> 0:14:52.960 the break. We're gonna talk about what retail looks like 0:14:53.000 --> 0:14:56.320 this fall, as well as financial independence and retiring early. 0:14:56.440 --> 0:14:58.520 We'll get to those stories plus a couple more right 0:14:58.600 --> 0:15:10.480 after the break. All right, we're back in the break 0:15:10.480 --> 0:15:12.680 and Matt. Early on we talked about the Prime bike 0:15:12.760 --> 0:15:15.880 that wasn't to be, then that didn't actually exist, and 0:15:16.000 --> 0:15:18.760 now we're going to talk about Amazon just announced their 0:15:18.800 --> 0:15:21.880 Prime Day recently, I think last week. So if you 0:15:22.000 --> 0:15:24.200 are a Prime member, I think sometimes people get annoyed 0:15:24.240 --> 0:15:25.880 with us talking about Amazon. I love them, but I 0:15:25.880 --> 0:15:29.320 hate them. Yeah, it's kind of love hate relationship. But 0:15:29.720 --> 0:15:31.840 I think the interesting thing about Prime Day happening on 0:15:31.920 --> 0:15:35.600 October four is that a lot of people follow suit 0:15:35.720 --> 0:15:39.280 and also have sales on those same days. Obviously, it's 0:15:39.280 --> 0:15:41.400 a way for Amazon to try to increase the attachment 0:15:41.640 --> 0:15:44.600 that it's loyal customers have to the site. But at 0:15:44.600 --> 0:15:47.400 the same time, a lot of other retailers, including a 0:15:47.400 --> 0:15:50.320 lot of small businesses creates sales on similar days to 0:15:50.400 --> 0:15:53.360 kind of create this effect of like a second Black 0:15:53.400 --> 0:15:56.800 Friday essentially. Um And the important thing to note now 0:15:57.480 --> 0:16:00.400 is that you shouldn't be waiting until the last minute 0:16:00.400 --> 0:16:03.360 to do your Christmas shopping, and something like Prime Day 0:16:03.400 --> 0:16:06.160 could be the perfect time for you to start buying 0:16:06.160 --> 0:16:09.440 gifts for your loved ones, and not necessarily at Amazon. Right. Yeah, 0:16:09.480 --> 0:16:11.920 other retailers are jumping on board, specifically Target. I mean 0:16:11.960 --> 0:16:14.160 they are having what they're calling sales days on the 0:16:14.200 --> 0:16:18.000 exact same days that Prime Days are happening and the fourteenth. 0:16:18.040 --> 0:16:20.280 But it is an interesting effect, you know, because typically 0:16:20.280 --> 0:16:23.440 Prime Day happens in the summer, right. But because of COVID, 0:16:23.760 --> 0:16:25.560 that's something that they kind of kicked down the road 0:16:25.560 --> 0:16:27.320 a little bit. I think a lot of it had 0:16:27.400 --> 0:16:29.040 to do with the fact that they couldn't keep up 0:16:29.080 --> 0:16:31.960 with demand. There were so many purchases that were already 0:16:32.000 --> 0:16:35.080 happening due to COVID that it just wasn't feasible for 0:16:35.120 --> 0:16:37.160 them to then have additional sales on top of that. 0:16:37.200 --> 0:16:39.280 Plus I think it probably would have looked bad if 0:16:39.280 --> 0:16:41.240 they're like, hey, guess what, we're gonna have Prime Days 0:16:41.280 --> 0:16:43.280 and kind of capitalize on the fact that people are 0:16:43.280 --> 0:16:45.920 shopping more from home anyway. But but like you said, 0:16:45.960 --> 0:16:48.640 I think it will shift the even though we're shifting 0:16:48.640 --> 0:16:51.320 Prime Day back, it sort of shifts the holiday shopping 0:16:51.320 --> 0:16:54.400 season forward just slightly. But maybe that is a smart 0:16:54.440 --> 0:16:56.720 thing to do as well, because of you know, shipping delays. 0:16:56.960 --> 0:16:58.640 I don't know if you've noticed, but like we've seen 0:16:58.640 --> 0:17:01.200 packages that say they're gonna show up on a Wednesday 0:17:01.280 --> 0:17:03.000 and then we're lucky if if they show up, you know, 0:17:03.040 --> 0:17:05.359 before the weekend. Yeah, I feel like I'm pulling my 0:17:05.400 --> 0:17:08.239 hair out looking at FedEx tracking numbers sometimes. Um, like 0:17:08.280 --> 0:17:10.600 in particular on on the newest version of the rad 0:17:10.640 --> 0:17:13.480 Wagon that I purchased, it's just like keeps getting delayed 0:17:13.480 --> 0:17:15.159 and delayed and supposed to show up at the end 0:17:15.200 --> 0:17:17.760 of September, but you're getting that delay. Um probably it 0:17:17.800 --> 0:17:19.919 might be mid October at this point. Who is Yeah? So, 0:17:20.119 --> 0:17:21.840 which is which is fine? Right, It's not a big deal. 0:17:21.960 --> 0:17:24.639 But that's just another reason for people to plan ahead 0:17:24.720 --> 0:17:27.160 and to and especially since we're doing more online shopping 0:17:27.600 --> 0:17:30.199 by by gifts for your loved ones earlier than you 0:17:30.240 --> 0:17:33.240 normally would because of those shipping delays and because sales 0:17:33.280 --> 0:17:35.439 are happening too. Yeah, so you can finally snag that 0:17:35.480 --> 0:17:37.520 instant pot if that's still the hot item that I 0:17:37.520 --> 0:17:40.080 don't know, five years behind the curve ofears pot Now 0:17:40.480 --> 0:17:42.439 all right, man. We we often talk about fire right, 0:17:42.520 --> 0:17:46.199 financial independence, retire early, but we mostly tend to focus 0:17:46.240 --> 0:17:49.040 on the first part, the financial independence part. We believe 0:17:49.160 --> 0:17:53.840 that financial independence gives individuals the flexibility and opportunity to 0:17:54.119 --> 0:17:56.719 do pretty much whatever they would like to with their time. Right. 0:17:57.040 --> 0:17:59.000 You know, when you're not beholden to a job in 0:17:59.080 --> 0:18:01.719 order to earn an in come, you're financially independent and 0:18:01.760 --> 0:18:04.719 you have freedom over your life. If that sounds amazing 0:18:04.760 --> 0:18:07.520 to you, we are with you. That's an amazing goal 0:18:07.560 --> 0:18:10.040 to have. But you know, how you spend your time 0:18:10.119 --> 0:18:13.479 can can have a big impact on your brain. Yeah. 0:18:13.520 --> 0:18:15.880 There's a recent study, mat and I think it actually 0:18:15.960 --> 0:18:18.760 lends credence to the fact that of of why you 0:18:18.800 --> 0:18:20.560 and I are not fans of the r E part 0:18:20.560 --> 0:18:23.359 of the retire early part. The new research is based 0:18:23.359 --> 0:18:26.080 on this retirement program in China, and it shows that 0:18:26.160 --> 0:18:29.800 within a couple of years of participants retiring, there's a 0:18:29.880 --> 0:18:34.880 noticeable amount of cognitive decline. Specifically, the largest negative effect 0:18:34.960 --> 0:18:38.240 was measured in something called delayed recall, which is an 0:18:38.280 --> 0:18:41.240 individual's ability to recall something that was mentioned just a 0:18:41.240 --> 0:18:43.960 few minutes earlier. This is like an on a short 0:18:44.080 --> 0:18:47.760 nigger movie when he gets older, like the lay recall 0:18:48.440 --> 0:18:51.679 exactly well. And and this it's not surprising either, right, 0:18:51.720 --> 0:18:53.920 because while we're at work, most of our minds are 0:18:53.960 --> 0:18:58.280 are challenged. And and if we stop working, that sharpening 0:18:58.880 --> 0:19:01.880 that's happening to our brains while we're working just isn't 0:19:01.880 --> 0:19:04.520