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Speaker 1: Welcome to Had of Money. I'm Joel and I am Matt,

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Speaker 1: and today we're talking low price ev leases, inflationary Amazon,

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Speaker 1: and twenty four to seven trading. That's right, buddy.

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Speaker 2: It is Friday, and everybody who's listening right now knows

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Speaker 2: that on Friday we talk about the best stories out

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Speaker 2: there and how they pertain to your personal finance. So

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Speaker 2: let's get after it. This could be their first episode.

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Speaker 2: Maybe they don't know that. Well, that's what we do

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Speaker 2: on Fridays. If you don't know, now you know, let's

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Speaker 2: should we dally, should we stall, shall we tarry? Or

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Speaker 2: do we move on?

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Speaker 1: Well, just a crazy thing that happened to me a

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Speaker 1: couple months ago, and I'm wondering this is gonna be

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Speaker 1: an opportunity for us to like really get after it. Joel,

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Speaker 1: I'm wondering how you would handle this. So if you

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Speaker 1: are cheap, at least in the South, it's kind of

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Speaker 1: weird scame situation. Uh So in this people pinestraw on

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Speaker 1: in their yards. That's like what we do, at least

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Speaker 1: in some parts of the South. And it was on

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Speaker 1: my to do list for spring break. I was going

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Speaker 1: to go to one of the home depot basically get

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Speaker 1: a bunch of pine straw and tossed it down myself.

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Speaker 2: I grew up spreading pintes. That was just like the

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Speaker 2: quintessential spring time. Yes, it's how you know it's spring

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Speaker 2: right at least in Augusta, Georgia, because it's like the

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Speaker 2: dawn of the arrival of Master's Week, which we didn't even.

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Speaker 1: Talk about masters a week a couple of weeks ago.

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Speaker 1: But yeah, spreading pinestrawl, your dad pulls you by the ear,

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Speaker 1: forces you out there to do it with the Yeah, yeah,

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Speaker 1: no choice. So now I'm the dad. I have to

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Speaker 1: do it myself. But this truck pulled by like literally

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Speaker 1: the day I was going to go do it, and

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Speaker 1: they had a bunch of pinestraw on the.

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Speaker 2: Back, and they said, hey, how convenient.

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Speaker 1: We'll do the pine straw for you for the low,

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Speaker 1: low price. And they said eight bucks of bail. Basically,

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Speaker 1: I think the price of buying the pine straws like

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Speaker 1: four bucks of bales. So I was like, okay, cool,

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Speaker 1: that's money included for your labor. He's like, oh, it's

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Speaker 1: probably gonna be like twenty to twenty five bales. I

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Speaker 1: did the math in my head I was like, great, okay,

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Speaker 1: you're on go for it. You can take this task

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Speaker 1: from my clutch. And then it's so weird. They did it.

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Speaker 1: It looked good, but then they come up and they say, yeah,

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Speaker 1: it's gonna be nine hundred and something dollars, and I

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Speaker 1: was like, wait a second. I just did the math.

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Speaker 1: You said twenty ish times eight. I was ready to

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Speaker 1: pay two hundred bucks at max.

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Speaker 2: I'm shocked.

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Speaker 1: And we obviously had no like signed contract or anything.

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Speaker 1: So it became this really weird back and forth and

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Speaker 1: I just didn't know what to do. I did not

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Speaker 1: handle that, but I knew that, like I wouldn't have

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Speaker 1: asked them to do this. If I knew it was

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Speaker 1: gonna be nine hundred and something dollars, that sounds ridiculous.

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Speaker 1: I would have done it myself. And so I won't

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Speaker 1: say I met them in the middle, but I was

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Speaker 1: basically like, listen, this is kind of crazy. I don't

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Speaker 1: know what to do here. I'm happy, And I even

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Speaker 1: told the workers by that. I was like, I don't

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Speaker 1: blame you. I blame your boss for sending you out

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Speaker 1: here and like allowing you to take these tactics like

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Speaker 1: it's on your boss, isn't this isn't on you?

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Speaker 2: Well, what does the price come to? So, like you said,

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Speaker 2: twenty so on the low end, you're thinking one hundred

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Speaker 2: and sixty bucks, yep.

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Speaker 1: But I was like, all right, maybe as much as

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Speaker 1: like two hundred that's fine. Yeah, it's like a tiny

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Speaker 1: bit more than that, that's cool. So when I ended

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Speaker 1: up settling on with him, I said, I will pay

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Speaker 1: you three hundred and fifty bucks and I will not

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Speaker 1: pay him anymore. And if your boss wants to come

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Speaker 1: over here and talk to me where, we can totally

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Speaker 1: do that. But so I don't even know if I

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Speaker 1: should have gone that high.

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Speaker 2: It was a weird situation, unfortunately. I mean, okay, there's

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Speaker 2: multiple things that could be going on here, right, Like

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Speaker 2: obviously one is that truly it was not a good estimate,

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Speaker 2: and it's a very bad estimate, a very bad estimate,

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Speaker 2: and perhaps there is a lack of an ability to

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Speaker 2: communicate what it was actually going to cost, right, So

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Speaker 2: like an honest error basically, but then gargantuan error. I know,

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Speaker 2: then that's five x error. And that's the thing if

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Speaker 2: that is what you specialize in, not only in selling

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Speaker 2: the pine Strull, but spreading it like you are going

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Speaker 2: to have a pretty good idea of how many bales

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Speaker 2: it's going to take to cover an area. So I'm

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Speaker 2: assuming they had to use way more than twenty.

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Speaker 1: He told me they had to use a lot more

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Speaker 1: than that, and he was like, you should have known

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Speaker 1: it was going to take more than that. I was like,

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Speaker 1: how am I supposed to know?

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Speaker 2: I don't know. Yeah, exactly. That is where I think

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Speaker 2: it falls on them, because they should know. They should

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Speaker 2: be able to look out a yard and as long

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Speaker 2: as you were clear though, like hey, these are the

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Speaker 2: beds we're talking about, they should pretty dang accurately know

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Speaker 2: how many bails it would take. And so the so

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Speaker 2: I already shared the honest mistake sort of path, but

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Speaker 2: it sounds like it's more like they're just trying to

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Speaker 2: they're trying to scale them scam.

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Speaker 1: Yeah, that's the way it felt, because at the end

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Speaker 1: they're like, hey, let's get my boss on the phone,

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Speaker 1: and literally the phone noise like it says boss in

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Speaker 1: on his iPhone or whatever when he hits ment to

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Speaker 1: talk to his boss, and the guy's like, oh, I'm

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Speaker 1: sorry they didn't coach you correctly, but come on, please

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Speaker 1: kind of thing. Maybe it awkward, so awkward, so awkward,

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Speaker 1: And I'm like, listen, this is my max, and if

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Speaker 1: you want to come here and talk to me in person,

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Speaker 1: we can talk it out like two adults. But I'm

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Speaker 1: just not going to be in this like middle I

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Speaker 1: like that. Yeah. So they went about their way, and

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Speaker 1: when I said, they were like, what's the other solution?

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Speaker 1: I was like, take all your pinestraw back? Can you

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Speaker 1: take it back? Yeah? Which is crazy. Obviously that's not

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Speaker 1: really a solution either. But I felt really awkward as

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Speaker 1: a homeowner to be put in that position. And maybe

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Speaker 1: that's on me for like not getting more details up

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Speaker 1: front or anything like that. But they made it sound

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Speaker 1: like it was super easy, super quick, and hey, we're

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Speaker 1: going to be in and out.

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Speaker 2: But yeah, I mean, if you're thinking, like on the

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Speaker 2: high end, maybe to a little over two hundred bucks

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Speaker 2: and then you ended up paying three fifty, that's a

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Speaker 2: pretty generous contingency like that. There's enough room there that

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Speaker 2: if it was an accurate quote and they did go

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Speaker 2: over a little bit, that it would have covered their cost.

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Speaker 2: But like you're talking it being like three times that

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Speaker 2: as far as what they're actually looking to charge.

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Speaker 1: So oh, it was basically five x because if I'm

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Speaker 1: thinking one sixty, they asked for nine to sixty. Right, Well,

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Speaker 1: I guess three x what you actually did end up paying.

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Speaker 1: But yeah, either way, Yeah, I think I think I

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Speaker 1: would have done something similar to.

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Speaker 2: To which you. Okay, maybe even paid less to be honest,

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Speaker 2: because I think I would have done the math. I

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Speaker 2: would have said, yeah, like, okay, I'm almost thinking one sixty, guys,

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Speaker 2: maybe two hundred. Uh, let's account for a twenty percent overage. Okay,

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Speaker 2: I'll give you guys two fifty. Yeah, tops.

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Speaker 1: And I felt more less frustrated about the money and

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Speaker 1: more frustrated about kind of the position they put me in. Yeah,

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Speaker 1: and it also made me want to go post in

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Speaker 1: my neighborhood Facebook group pay gotcha watch out for these

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Speaker 1: Pinestross gamber dads. It's uh yeah, just a terrible aiy

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Speaker 1: to do business, obviously, and my guess is they're going

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Speaker 1: to get somebody else to pay a whole lot more

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Speaker 1: than they should probably, So yeah, okay, but enough about that,

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Speaker 1: Let's move on to Friday flight Saplings of stories we

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Speaker 1: found interesting this week, and they pertain to your personal finances.

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Speaker 1: Let's start off by talking about EV's and a topic

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Speaker 1: that we don't usually sing the praises of very often

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Speaker 1: leasing the best way though to get an inexpensive ev

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Speaker 1: it just might be And this goes counter two with

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Speaker 1: so much of what we talk about most of the

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Speaker 1: time when we talk about cars, to lease it. That's

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Speaker 1: true normally, Matt. Of course, we're not big fans of leasing.

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Speaker 1: It's more of a lifestyle choice than a smart financial one.

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Speaker 1: When you lease a car, you're saying, I just like

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Speaker 1: to upgrade by ride every couple of years, and I

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Speaker 1: don't mind paying for the privilege of doing this. That

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Speaker 1: is literally what you're saying when you lease a car.

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Speaker 1: Most of the time. There are, though, exceptions to almost

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Speaker 1: every rule that I can think of, and this is

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Speaker 1: the same thing is true when we're talking about leasing.

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Speaker 1: There are times where a lease can actually potentially make

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Speaker 1: a decent financial sense. For example, Matt, you and I

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Speaker 1: recently saw this and I had you, like, you know,

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Speaker 1: looking into this hardcore. There's a Subaru electric vehicle that

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Speaker 1: was being offered at two hundred and forty one dollars

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Speaker 1: a month on a lease with zero down and by

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Speaker 1: the way, you got to pay attention to that because

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Speaker 1: sometimes like it's like, oh, that's it's a low monthly

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Speaker 1: lease amount, but you got to pay down, right, so

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Speaker 1: then that's not a deal. But this was zero down

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Speaker 1: to forty one a month. That's pretty good. The Hondai

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Speaker 1: Ionic is two hundred and twenty five bucks a month

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Speaker 1: right now, with two hundred and twenty five down at

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Speaker 1: least in some places. Yeah, Also, that's a good look

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Speaker 1: at EV too. Yeah, yeah, it's a great deal. Yeah,

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Speaker 1: it's no Chevy bolt Man a right, it's a hun

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Speaker 1: day And Tesla just announced that they've reduced rates on

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Speaker 1: some of their leases too, So I guess that if

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Speaker 1: you're like, I don't know, I'm kind of like EV curious,

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Speaker 1: well kicking the tires a little bit, might at least

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Speaker 1: want leasing on your radar. Yeah, so many least EV's

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Speaker 1: they still qualify for the seventy five hundred dollars federal

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Speaker 1: tax credit, which is why that you're able to get

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Speaker 1: that drastically reduced monthly payment. Basically, the dealers they receive

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Speaker 1: those savings and they're able to pass that alone to

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Speaker 1: you and reduce payments. And so if you've been considering EV,

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Speaker 1: but you haven't wanted to take the plunge. Leasing one

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Speaker 1: of the less expensive models might be a good way

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Speaker 1: to test the waters. Just one of the numbers because

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Speaker 1: they can make a lot more sense than they normally

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Speaker 1: would do some calculations. See how much you might be

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Speaker 1: saving in fuel costs, especially if for you to charge

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Speaker 1: your EV at home. Yeah, that's where a lot of

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Speaker 1: the savings happen.

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Speaker 2: Absolutely.

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Speaker 1: If you're charging on the go, you're paying a lot

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Speaker 1: more per kill a lot or Whateverah.

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Speaker 2: And Plus I'm thinking about too, just like as technology advances,

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Speaker 2: like you aren't stuck with an EV that's massively outdated.

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Speaker 2: It makes me think of is it Moore's law that

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Speaker 2: says like every couple of years, technology like doubles and

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Speaker 2: speed or essentially something like that, And that's not always

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Speaker 2: true because like just look at cell phones right and

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Speaker 2: the costs go down to there is a drastic increase

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Speaker 2: in capabilities and speed, and same thing with computers. But

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Speaker 2: I feel like when it comes to evs, we are

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Speaker 2: just in the beginning like phases, the beginning cycles of

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Speaker 2: that and the ability to lease it means you're not

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Speaker 2: stuck with something that you pay tens of thousands of

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Speaker 2: dollars for where before long it feels like you've got

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Speaker 2: like a dinosaur on your hands. And here's the thing which.

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Speaker 1: Has how anybody feels if they've got a twenty sixteen

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Speaker 1: niece on leak.

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Speaker 2: Yes, exactly, and it's not that. What we're proposing here

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Speaker 2: is that you need to go out there and have

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Speaker 2: the latest and greatest features in the latest colors on

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Speaker 2: the on the ev It's truly because of the fact

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Speaker 2: that the range has increased so much in recent years.

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Speaker 1: It's literally so you can go where you need to go.

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Speaker 2: Yes, which is the ability to save money. This isn't

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Speaker 2: And so what I'm highlighting here is the fact that

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Speaker 2: we're not looking at this through a lifestyle lens. This

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Speaker 2: is where like we're viewing this through a financial lens,

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Speaker 2: and by doing that it looks like it could make

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Speaker 2: sense for a whole lot of folks.

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Speaker 1: Yeah, and I still think about the Toyota announcing they've

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Speaker 1: got the solid state battery techno exactly what I'm thinking

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Speaker 1: Of'm talking about nine hundred plus miles potentially that you

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Speaker 1: can get on a charge with the batteries that are

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Speaker 1: going to be rolling out in a few years. Maybe

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Speaker 1: that's the kind of game changing technology that makes evs

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Speaker 1: just prone to some sort of massive adoption cycle and

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Speaker 1: costs going down as well. They continue to go down,

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Speaker 1: and so guess what, you least for a couple of

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Speaker 1: years because you want to go EV, you want to

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Speaker 1: save on the gas, and you kind of want to

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Speaker 1: test the waters. Well, then at some point a few

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Speaker 1: years down the road, when the technology is even better

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Speaker 1: and maybe the prices have gone down even more, that's

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Speaker 1: when you pounce.

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Speaker 2: In you by, Yeah, it seems that there's like the

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Speaker 2: potential or massive depreciation in the coming years, which is

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Speaker 2: why as a potential EV buyer, I think you should

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Speaker 2: maybe be a little hesitant if you are thinking about

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Speaker 2: plunking another change to purchase one rather than perhaps to

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Speaker 2: lease it, which again sounds crazy because we've always been

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Speaker 2: against that.

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Speaker 1: So yeah, yeah, well, and I think one other point

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Speaker 1: on that is that we know the federal tax cardit

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Speaker 1: is going to be around for many many years to come,

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Speaker 1: and so it's not like that time's running out on

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Speaker 1: that or anything like that. So when you buy one

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Speaker 1: maybe four or five years down the road, guess what,

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Speaker 1: you're still going to get that price break on that too.

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Speaker 1: This true, right, since we're talking about EV's there was

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Speaker 1: an article in Bloomberg about energy nerds who obsess over

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Speaker 1: their electricity bills and they do anything they can do

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Speaker 1: to reduce it. Matt, I don't know if you felt

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Speaker 1: a kinship with some of those people. That seems like

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Speaker 1: sounds like something I could see you going down that

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Speaker 1: rabbit hole.

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Speaker 2: It's funny because like the kids will go off to school,

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Speaker 2: and certain days of the week, I am at home

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Speaker 2: alone before I walk to work.

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Speaker 1: Can I guess what you do? Do you turn off

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Speaker 1: all the lights in the house.

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Speaker 2: Well, it's just always such a rush in the morning,

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Speaker 2: and so like there are multiple fans going on in

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Speaker 2: east room, all all the different lights are on, and

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Speaker 2: I just a lot of times they haven't flushed.

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Speaker 1: The toilet as well. So I just like to leave

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Speaker 1: the house again to know it's not just my kid,

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Speaker 1: but I just like to leave the.

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Speaker 2: House in a good state. You know, when I leave

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Speaker 2: to go to work.

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Speaker 1: I'm not going to say, like the closet lights are

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Speaker 1: on or the bathroom locks on, like I.

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Speaker 2: Go turn them all off before I leave. Like that.

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Speaker 1: That's just a weird quirk that I have. And apparently

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Speaker 1: you do too. Therefore we are energy nerds. Okay, yeah,

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Speaker 1: we're not alone. We're guys energy dad nerds. Well, obviously

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Speaker 1: it's true that you could buy different gadgets right to

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Speaker 1: help you reduce electricity consumption and to monitor what you're

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Speaker 1: using more thoroughly. You know, you can get solar panels

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Speaker 1: or batteries for storage, and it's neat to see the

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Speaker 1: way some of those guys are implementing some of those

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Speaker 1: devices in their homes in order to reduce energy consumption.

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Speaker 1: But I think one of the other things worth noting

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Speaker 1: is that one of the easiest ways to save is

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Speaker 1: to change your pricing plan and then change your habits Accordingly.

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Speaker 1: We've talked about this before, Matt, but it's been a minute.

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Speaker 1: There are, of course off peak plans that a lot

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Speaker 1: of utility providers offer that will charge you more for

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Speaker 1: using electricity during peak hours and then far far less

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Speaker 1: for using electricity during off peak times. So even if

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Speaker 1: you don't drive an ev by the way, you might

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Speaker 1: find that you're able to reduce your electricity bill by

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Speaker 1: what's known as load flexing, basically doing your laundry, running

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Speaker 1: the dishwasher at night. That kind of stuff, and if you.

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Speaker 2: Do have when you should be doing them anyway, because

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Speaker 2: the noise associated with I mean, I would you run

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Speaker 2: your dishwasher?

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Speaker 1: Is it like typically over nine default? Yeah?

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Speaker 2: Yea, And I feel like it just naturally fits within

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Speaker 2: people's lifestyle anyway.

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Speaker 1: Yeah, And we don't have an EV anymore, although Rabbi

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Speaker 1: in twenty twenty six, baby, but when we do, Matt,

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Speaker 1: this is perfect for folks like that. We've talked to

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Speaker 1: listener Greg who spends almost nothing to charge his EV

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Speaker 1: overnight because he charges it overnight, and he's on one

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Speaker 1: of these flex plans. And so I love the idea

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Speaker 1: of being able to save money just by being on

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Speaker 1: a different plan and changing our usage just when we

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Speaker 1: use certain features of our home. That's a nifty way

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Speaker 1: to save money that most people don't think about.

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Speaker 2: Yeah, you said he pays next to nothing. He pays

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Speaker 2: one point eight cents per kill a lot hour. And

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Speaker 2: I actually I rechecked it because I was curious because

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Speaker 2: I crushed the numbers not too long ago. But I'm like,

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Speaker 2: all right, let's see if that was just like a

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Speaker 2: something like a promotion, perhaps no still around, Well it

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Speaker 2: was one point seven, so yes, it did go up,

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Speaker 2: but now it's one point eight per kill a lot hour.

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Speaker 2: But when we're saying, like when we're talking about EV's

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Speaker 2: and potentially leasing them, and when I say to crunch

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Speaker 2: the numbers, we're not just talking about the difference in

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Speaker 2: leasing an EV and just purchasing an EV, but also

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Speaker 2: compare it to your gas bill, because you're going to

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Speaker 2: see a dramatic savings when it comes to the amount

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Speaker 2: of money you're able to save in what you spend

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Speaker 2: at the gas station every single month. Because I know

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Speaker 2: for us, at a minimum, based on the daily commute

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Speaker 2: for school, we're spending two hundred and fifty dollars a month.

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Speaker 2: Like all the no's pretty evenly on gas depending on

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Speaker 2: what the price per gallon is.

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Speaker 1: Super Release basically pays ourselves.

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Speaker 2: Yes, that's the thing. When you like, those same number

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Speaker 2: of miles traveled via an EV would be and I've

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Speaker 2: got it on my spreadsheet six dollars and fifty cents

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Speaker 2: a month a month, which is incredible and so literally

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Speaker 2: when you are looking at being able to charge your

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Speaker 2: vehicle at night from at least here in Georgia it's

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Speaker 2: from eleven pm to seven am, it literally cost one

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Speaker 2: point eight cents per kilo kill a hours. So those

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Speaker 2: are the kind of numbers we want you out there

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Speaker 2: to be crunching as you're considering something like this, because

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Speaker 2: it truly could save you a ton of money.

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Speaker 1: Yeah, and if someone came to you and said, hey, listen,

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Speaker 1: we'll cut your electricity bill in you know, by two thirds.

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Speaker 1: But you just got to make this, this and this

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Speaker 1: change and only run these devices at this time of night.

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Speaker 1: A lot of us would do that. But the truth

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Speaker 1: is that offer is available for us. We just you know,

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Speaker 1: go to your local utility provider's website and see what

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Speaker 1: they've got. I bet they've got an off peak plan

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Speaker 1: that might be able to suit your needs.

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Speaker 2: Yeah, it's just crazy. And just to think that some

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Speaker 2: of the monthly least amounts are so low, and when

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Speaker 2: you are taking energy costs into account, you might be thinking, well,

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Speaker 2: why don't I just get an EV because it's like

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Speaker 2: it's almost like you're paying me to drag this EV

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Speaker 2: around except for the cost of insurance.

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Speaker 1: Which is the downside. One thing that other people and

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Speaker 1: you as well well, Matt, might want to think about

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Speaker 1: if you opt to go this route is to install

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Speaker 1: solar panels. So guess what, maybe maybe you're not even

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Speaker 1: paying the utility provider a dime.

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Speaker 2: Maybe truly, overall, they are paying you not just to

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Speaker 2: drive the ev but also to provide the grid with

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Speaker 2: electricity from your home.

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Speaker 1: Yeah, exactly. In some places you can make money for

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Speaker 1: selling the electricity you're creating at your home back to

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Speaker 1: the utility provider. But okay, solar panels. I saw this

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Speaker 1: story in I believe it was the financial times are

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Speaker 1: becoming so cheap that people are using them as fence

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Speaker 1: panels in the Netherlands and in Germany. They're not able

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Speaker 1: to capture rays in the same way when they're installed

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Speaker 1: as when they're installed on the roof, but it's also

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Speaker 1: a lot cheaper because you don't Yeah, it cuts down

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Speaker 1: the cost of installation. That's one of the most expensive

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Speaker 1: parts now of installing solar is the people who actually

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Speaker 1: do the installation, because basically, when you look at the numbers,

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Speaker 1: a solar panel cost eleven cents per watt at the

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Speaker 1: end of March or but and that's half the price

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Speaker 1: it was at the same time last year. So the

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Speaker 1: price of solar panels is just dropping like a rock.

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Speaker 1: And of course this doesn't mean we're ready to upend

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Speaker 1: some of our traditional energy sources yet, but the rapid

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Speaker 1: decline in the cost of solar and then these ingenious

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Speaker 1: approaches to using solar panels. I love this man. I

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Speaker 1: think this is a great sign. Instead of putting wood

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Speaker 1: privacy fences up in your yard, make them solar panels

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Speaker 1: because guess what, it might be cheaper and then it

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Speaker 1: might actually pay back in the long run. Two, because

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Speaker 1: you're able to generate some extra energy. Even if it's

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Speaker 1: not the most optimized way, it's still pretty optimized.

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Speaker 2: Yeah. I love the scrappiness. And you were talking about

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Speaker 2: the federal tax credit for evs. Don't forget about the

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Speaker 2: tax credits that you might qualify for when doing some

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Speaker 2: of these different green upgrades around your house. Basically we've

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Speaker 2: talked about this before, but many of these energy efficient

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Speaker 2: changes that you can make, they come with a roughly

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Speaker 2: thirty percent discount, but there are also annual caps, and

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Speaker 2: so it's important to keep in mind to maybe make

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Speaker 2: some of these changes in consecutive years if you're trying

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Speaker 2: to score the max tax rebate that's available to you.

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Speaker 2: And then remember as well, some of the most impactful

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Speaker 2: changes that you can make. They aren't all that tech forward.

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Speaker 2: They're pretty simple, straightforward, like adding insulation that can make

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Speaker 2: a big difference in your electricity bills. But it's certainly

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Speaker 2: an unsung hero. Just remember, many of these tax credits

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Speaker 2: are going to be around again until twenty thirty two,

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Speaker 2: just like with the federal tax credit for EVS. There's

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Speaker 2: no rush. And we actually talked about some of these

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Speaker 2: different energy efficient upgrades that you can make back in

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Speaker 2: episode six fifty six, kind.

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Speaker 1: Of went through the laundry list of them.

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Speaker 2: Yeah, yeah, yeah, So listen, I will look to that

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Speaker 2: in the show notes if you want to listen back

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Speaker 2: to some of these different moves that you can make,

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Speaker 2: which you might be thinking of as it's kind of

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Speaker 2: heating up outside of your thinking, oh man, I can

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Speaker 2: kind of feel the heat radiating from the ceiling upstairs. Yeah.

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Speaker 1: And basically for a lot of these things, it's a

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Speaker 1: straight up thirty percent discount, but because the federal government's

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Speaker 1: going to pitch in and cover a decent portion of

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Speaker 1: some of those upgrades you make. But kind of like

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Speaker 1: you said, Matt, the devil's in the details. You got

434
00:17:54,160 --> 00:17:56,400
Speaker 1: to read the fine print and make sure when you're

435
00:17:56,440 --> 00:17:58,520
Speaker 1: upgrading certain things and how you're upgrading certain things that

436
00:17:58,520 --> 00:18:01,040
Speaker 1: you're jumping through the right hoops. Let's talk about Amazon

437
00:18:01,160 --> 00:18:02,720
Speaker 1: for a second. Have you heard of that company, Matt.

438
00:18:02,760 --> 00:18:04,960
Speaker 1: It's you know, it's a big one. Some people buy

439
00:18:05,119 --> 00:18:07,760
Speaker 1: stuff online from that website. Well, there is a claim

440
00:18:07,920 --> 00:18:11,000
Speaker 1: from a new book about this massive internet retailer from

441
00:18:11,000 --> 00:18:14,000
Speaker 1: a Wall Street Journal reporter that came out this week. First,

442
00:18:14,080 --> 00:18:16,840
Speaker 1: let's talk about the bad. Amazon makes up forty percent

443
00:18:16,880 --> 00:18:19,120
Speaker 1: of online retail which is kind of scary. The fact

444
00:18:19,119 --> 00:18:21,040
Speaker 1: that they sell forty percent of the goods of people

445
00:18:21,040 --> 00:18:25,639
Speaker 1: buy online kind of mind blowing statistic. Another one to

446
00:18:25,680 --> 00:18:28,200
Speaker 1: eighty percent of homes have Amazon Prime.

447
00:18:28,320 --> 00:18:31,359
Speaker 2: I found that to be more shocking. That's that's incredible.

448
00:18:30,880 --> 00:18:32,879
Speaker 1: Crazy to think that they're not only just buying a

449
00:18:32,920 --> 00:18:34,879
Speaker 1: significant amount of their goods on Amazon, but that they

450
00:18:34,920 --> 00:18:37,960
Speaker 1: also pay a massive annual fee to Amazon for the

451
00:18:37,960 --> 00:18:41,480
Speaker 1: privilege of getting the shipping, even though the quick shipping

452
00:18:41,560 --> 00:18:45,640
Speaker 1: is becoming pretty ubiquitous around the webs and Matt the book,

453
00:18:45,680 --> 00:18:49,000
Speaker 1: it also discusses the fees that Amazon charges sellers who

454
00:18:49,080 --> 00:18:51,800
Speaker 1: want to list items on their site. It's a lot

455
00:18:51,840 --> 00:18:53,600
Speaker 1: of money, Like, it's not cheap to list your stuff

456
00:18:53,640 --> 00:18:56,280
Speaker 1: on Amazon apparently, and it's getting more expensive. But I'll

457
00:18:56,280 --> 00:18:59,040
Speaker 1: also say those sellers have the option to sell elsewhere,

458
00:18:59,080 --> 00:19:02,000
Speaker 1: to create their create their own direct to consumer website

459
00:19:02,040 --> 00:19:05,800
Speaker 1: like many many other businesses have, they don't because Amazon

460
00:19:05,840 --> 00:19:07,720
Speaker 1: is where the customers are, and so they're willing to

461
00:19:07,720 --> 00:19:10,159
Speaker 1: pay the fee to sell their goods there because that's

462
00:19:10,160 --> 00:19:13,399
Speaker 1: how they're actually gonna make money. And recent data finds,

463
00:19:13,440 --> 00:19:16,919
Speaker 1: by the way, that Amazon has increased prices slower than

464
00:19:16,960 --> 00:19:19,280
Speaker 1: the rate of inflation, and that price growth might actually

465
00:19:19,320 --> 00:19:21,760
Speaker 1: be negative on Amazon dot Com in twenty twenty four,

466
00:19:21,920 --> 00:19:24,560
Speaker 1: which actually resonates with what some other retailers are saying,

467
00:19:24,560 --> 00:19:27,320
Speaker 1: like Costco they've made similar remarks. And so I don't know, Matt,

468
00:19:27,359 --> 00:19:29,560
Speaker 1: is Amazon inflationary? That's kind of the question that Axios

469
00:19:29,560 --> 00:19:32,040
Speaker 1: asked this week. And to me, it doesn't seem like

470
00:19:32,040 --> 00:19:35,080
Speaker 1: they're so big that they tip the inflation scales. Yeah,

471
00:19:35,119 --> 00:19:37,639
Speaker 1: it's kind of scary how much of the Internet traffic

472
00:19:37,680 --> 00:19:40,240
Speaker 1: and that they get in the retail environment. But I

473
00:19:40,280 --> 00:19:43,280
Speaker 1: also don't think that like we can point to Amazon

474
00:19:43,280 --> 00:19:45,720
Speaker 1: and say just because they're big, they're bad and they're

475
00:19:45,760 --> 00:19:46,760
Speaker 1: causing prices to go I.

476
00:19:46,760 --> 00:19:48,920
Speaker 2: Think that's what's going on here, is that oftentimes folks

477
00:19:48,920 --> 00:19:50,960
Speaker 2: are looking for some sort of scapegoat and who doesn't

478
00:19:50,960 --> 00:19:53,359
Speaker 2: want to hate on Amazon because you know, not a

479
00:19:53,400 --> 00:19:56,080
Speaker 2: lot of folks like the Bezos. But there is still

480
00:19:56,160 --> 00:19:58,639
Speaker 2: plenty of competition out there for us to choose from.

481
00:19:58,800 --> 00:20:01,840
Speaker 2: This is why we don't think first of all, that

482
00:20:01,880 --> 00:20:04,880
Speaker 2: Amazon isn't inflationary, but also they're not a monopoly, because

483
00:20:04,880 --> 00:20:07,880
Speaker 2: that's the other sort of phrase here tossed around when

484
00:20:07,920 --> 00:20:10,680
Speaker 2: they have these kind of numbers. Because there are other options.

485
00:20:11,119 --> 00:20:13,680
Speaker 2: We opt for Amazon because of convenience, like I literally

486
00:20:13,720 --> 00:20:16,480
Speaker 2: can't remember or can't think of, like what our life

487
00:20:16,480 --> 00:20:18,840
Speaker 2: would be like and if we didn't have Amazon, and

488
00:20:18,880 --> 00:20:21,480
Speaker 2: the convenience that comes with being able to order a

489
00:20:21,520 --> 00:20:23,679
Speaker 2: giant thing of toilet paper because she's like, I got

490
00:20:23,720 --> 00:20:25,760
Speaker 2: other things to carry out of the store when I'm

491
00:20:25,800 --> 00:20:27,520
Speaker 2: going to go to Costco or go to Aldie.

492
00:20:27,600 --> 00:20:28,760
Speaker 1: Come on, okay, you gotta do better.

493
00:20:29,000 --> 00:20:33,440
Speaker 2: But bottom line, you can avoid Amazon if you don't

494
00:20:33,440 --> 00:20:35,320
Speaker 2: want to support them, and.

495
00:20:35,200 --> 00:20:35,679
Speaker 1: Some people are.

496
00:20:35,760 --> 00:20:39,680
Speaker 2: They're opting for even cheaper Chinese alternatives like like t

497
00:20:39,880 --> 00:20:42,280
Speaker 2: Mu Sine or Shine Shine.

498
00:20:42,480 --> 00:20:43,840
Speaker 1: I don't know how to announce out.

499
00:20:43,720 --> 00:20:45,280
Speaker 2: But you don't necessarily have to go cheap. You can

500
00:20:45,280 --> 00:20:48,639
Speaker 2: buy higher quality goods via local retailers. You can go

501
00:20:48,720 --> 00:20:52,199
Speaker 2: with internet retailers who specialize in the specific products that

502
00:20:52,240 --> 00:20:55,160
Speaker 2: you're looking to buy. But whatever you're looking for you

503
00:20:55,240 --> 00:20:58,359
Speaker 2: can find not only on Amazon, but you can find elsewhere.

504
00:20:58,800 --> 00:21:02,280
Speaker 2: And yeah, Amazon, and it's a big company. That being said,

505
00:21:02,320 --> 00:21:05,439
Speaker 2: I'm not going to necessarily pin them for the inflationary

506
00:21:05,600 --> 00:21:07,560
Speaker 2: sort of environment that we find ourselves in. I think

507
00:21:07,560 --> 00:21:09,880
Speaker 2: it's more like the stimichecks. It's more like the government

508
00:21:09,960 --> 00:21:13,160
Speaker 2: spending versus just what it is that a giant corporation

509
00:21:13,200 --> 00:21:17,120
Speaker 2: decides to charge their small businesses who want to sell

510
00:21:17,119 --> 00:21:17,960
Speaker 2: products on their website.

511
00:21:18,040 --> 00:21:20,320
Speaker 1: Yeah, it is really interesting to think, like what when

512
00:21:20,359 --> 00:21:22,080
Speaker 1: we look back at it seems like it's pretty easy

513
00:21:22,119 --> 00:21:24,240
Speaker 1: to see actually kind of what led to big parts

514
00:21:24,280 --> 00:21:26,919
Speaker 1: of the inflation that we've seen in this country and

515
00:21:27,000 --> 00:21:30,280
Speaker 1: around the world. And the culprit. Yeah, it doesn't seem

516
00:21:30,320 --> 00:21:32,400
Speaker 1: to be Amazon, even though they seem to be taking

517
00:21:32,440 --> 00:21:34,480
Speaker 1: a lot of heat right now. But I think the

518
00:21:34,520 --> 00:21:36,240
Speaker 1: other thing too, Matt, like this should cause us to

519
00:21:36,240 --> 00:21:38,440
Speaker 1: maybe rethink our prime membership, maybe rethink how much you're

520
00:21:38,440 --> 00:21:40,760
Speaker 1: spending on Amazon. Sometimes it's this knee jerk thing, and

521
00:21:40,800 --> 00:21:44,720
Speaker 1: so it's not even necessarily they're contributing to outsized inflation.

522
00:21:44,760 --> 00:21:46,680
Speaker 1: But it's just the fact that we buy more stuff

523
00:21:46,680 --> 00:21:49,359
Speaker 1: than we should because it's so darn easy. Maybe that

524
00:21:49,359 --> 00:21:52,040
Speaker 1: that's the problem, at least from an individual consumer standpoint,

525
00:21:52,400 --> 00:21:55,159
Speaker 1: is that we're buying things that we could probably avoid

526
00:21:55,200 --> 00:21:58,040
Speaker 1: purchasing altogether, but we just do it because it's you know,

527
00:21:58,080 --> 00:22:00,240
Speaker 1: it's super simple, as right at our fingertips. It's just

528
00:22:00,280 --> 00:22:01,760
Speaker 1: a behavior change, I guess that we need to make.

529
00:22:02,000 --> 00:22:04,200
Speaker 1: But Matt, we've got more to get to on this episode,

530
00:22:04,240 --> 00:22:07,720
Speaker 1: including what if you could trade stocks all day, every day,

531
00:22:07,880 --> 00:22:10,760
Speaker 1: including on Christmas. Well, that might be in the cards

532
00:22:10,760 --> 00:22:12,359
Speaker 1: in the near term future. We'll talk about that and

533
00:22:12,440 --> 00:22:13,479
Speaker 1: more right after this.

534
00:22:21,400 --> 00:22:23,159
Speaker 2: All right, man, we are back from the break. We're

535
00:22:23,160 --> 00:22:25,719
Speaker 2: gonna get to that twenty four to seven stock trading

536
00:22:26,000 --> 00:22:27,560
Speaker 2: story here in a minute. But first we have our

537
00:22:27,640 --> 00:22:30,200
Speaker 2: ludicrous headline of the week, and this one is from

538
00:22:30,320 --> 00:22:33,880
Speaker 2: the Journal. The headline reads the headache at the end

539
00:22:34,040 --> 00:22:38,720
Speaker 2: of the Costco Gold Rush, and not surprising that there's

540
00:22:38,760 --> 00:22:41,360
Speaker 2: a story about gold. It's pretty hot right now. It's

541
00:22:41,480 --> 00:22:43,320
Speaker 2: actually been on a tear as of late.

542
00:22:43,640 --> 00:22:46,119
Speaker 1: And of course hot like Hansol from wess Lander.

543
00:22:46,440 --> 00:22:48,480
Speaker 2: And the price of something goes up, the interest to

544
00:22:48,600 --> 00:22:51,879
Speaker 2: invest in that thing it increases dramatically as well. And

545
00:22:52,119 --> 00:22:54,639
Speaker 2: good folks over at Costco, they started selling gold bars

546
00:22:54,720 --> 00:22:58,320
Speaker 2: last year sometime, and because of Costco's business model, they

547
00:22:58,320 --> 00:23:00,919
Speaker 2: actually don't mark things up much at So what that

548
00:23:01,000 --> 00:23:02,919
Speaker 2: means is that these bars are selling out in minutes

549
00:23:03,080 --> 00:23:07,000
Speaker 2: when they go on sale. And interestingly enough, gold it's

550
00:23:07,000 --> 00:23:09,359
Speaker 2: actually done better than the SMP five hundred over the

551
00:23:09,400 --> 00:23:12,080
Speaker 2: past five years, like not by like a ton, but

552
00:23:12,160 --> 00:23:14,880
Speaker 2: it has performed better. And so you might be thinking,

553
00:23:14,880 --> 00:23:16,680
Speaker 2: all right, this is it time for Matt and Joel

554
00:23:16,760 --> 00:23:19,240
Speaker 2: to finally change their tune a little bit. Are they

555
00:23:19,280 --> 00:23:23,120
Speaker 2: going to start Hey, precious metals from from here on out? No,

556
00:23:23,200 --> 00:23:26,040
Speaker 2: bury them in your backyard. That's not what we're here

557
00:23:26,040 --> 00:23:28,760
Speaker 2: to say. Because when you zoom out, even though it's

558
00:23:28,760 --> 00:23:32,160
Speaker 2: outperformed the SMP in recent years, but like zoom out ten,

559
00:23:32,240 --> 00:23:35,280
Speaker 2: twenty thirty, zoom out one hundred years, let's say there's

560
00:23:35,320 --> 00:23:40,080
Speaker 2: no competition at all, the SMP stocks outperform gold by

561
00:23:40,160 --> 00:23:44,200
Speaker 2: a significant margin. Not that we're investing for a century

562
00:23:44,240 --> 00:23:47,920
Speaker 2: from now. But history shows that productive companies that they

563
00:23:47,960 --> 00:23:50,800
Speaker 2: are going to offer better returns than just a shiny

564
00:23:50,800 --> 00:23:52,480
Speaker 2: object that we dug out of the ground that we

565
00:23:52,520 --> 00:23:54,000
Speaker 2: decided is worth a whole lot of money.

566
00:23:54,000 --> 00:23:55,640
Speaker 1: With the gold people, they come out of the woodwork

567
00:23:55,680 --> 00:23:58,320
Speaker 1: at times like this, Matt and they are it seems

568
00:23:58,359 --> 00:24:00,480
Speaker 1: like they have more credibility, more gravita, and more people

569
00:24:00,560 --> 00:24:02,840
Speaker 1: end up listening to them because guess what, when gold

570
00:24:02,840 --> 00:24:06,600
Speaker 1: has been outperforming, it makes our case seem more credible.

571
00:24:07,119 --> 00:24:09,320
Speaker 1: But the whole point of this article was that it's

572
00:24:09,359 --> 00:24:11,159
Speaker 1: hard and costly to get rid of your gold bar.

573
00:24:11,320 --> 00:24:15,359
Speaker 1: So let's say even the S and P and gold

574
00:24:15,400 --> 00:24:18,159
Speaker 1: continued to kind of march in lockstep for a little while.

575
00:24:18,440 --> 00:24:21,439
Speaker 1: Similar returns. Where where do you sell the gold that

576
00:24:21,480 --> 00:24:24,640
Speaker 1: you're buying Facebook marketplace? I mean that sounds like you're

577
00:24:24,640 --> 00:24:27,240
Speaker 1: going to get robbed if you're doing that right. Gold

578
00:24:27,400 --> 00:24:30,119
Speaker 1: is a very ill liquid asset, and it's an inefficient

579
00:24:30,240 --> 00:24:32,720
Speaker 1: market for buying and selling, and so if you sell

580
00:24:32,840 --> 00:24:35,720
Speaker 1: your gold online, you might get a low ball offer

581
00:24:35,840 --> 00:24:38,359
Speaker 1: and then have to pay for shipping and insurance fees

582
00:24:38,400 --> 00:24:40,200
Speaker 1: on top of that, which means that even if the

583
00:24:40,240 --> 00:24:43,680
Speaker 1: price is gone up you don't get basically the entire

584
00:24:44,160 --> 00:24:47,120
Speaker 1: price increase of the gold you purchase. And so although yeah,

585
00:24:47,160 --> 00:24:49,280
Speaker 1: we've seen price the price of gold go up significantly

586
00:24:49,280 --> 00:24:51,399
Speaker 1: in recent years, that doesn't mean that it's a no

587
00:24:51,520 --> 00:24:53,919
Speaker 1: brainer through out there and buy physical gold. Even if

588
00:24:53,960 --> 00:24:56,800
Speaker 1: it's sold via a site like costco and you're getting

589
00:24:56,800 --> 00:24:59,320
Speaker 1: a decent deal on it, it'd be better to buy

590
00:24:59,359 --> 00:25:01,840
Speaker 1: it in a low cost etf if you really feel

591
00:25:01,840 --> 00:25:04,280
Speaker 1: like you need some exposure. We don't own any of

592
00:25:04,320 --> 00:25:07,240
Speaker 1: these funds ourselves, but I Shares have some inexpensive gold

593
00:25:07,280 --> 00:25:09,760
Speaker 1: funds if that's your jam, but you probably already have,

594
00:25:09,920 --> 00:25:12,760
Speaker 1: or you're probably going to hear more pitches for gold

595
00:25:12,800 --> 00:25:14,359
Speaker 1: and for gold funds and.

596
00:25:14,280 --> 00:25:15,840
Speaker 2: As long as it continues to increase.

597
00:25:16,040 --> 00:25:17,720
Speaker 1: But I think, just like drugs, Matt, you just say no,

598
00:25:19,760 --> 00:25:22,760
Speaker 1: let's talk about Wall Street, because some changes might be

599
00:25:22,800 --> 00:25:25,159
Speaker 1: coming to how it is that you can trade the

600
00:25:25,200 --> 00:25:26,480
Speaker 1: New York Stock Exchange.

601
00:25:26,920 --> 00:25:29,560
Speaker 2: They're taking a pull on weather or not they should

602
00:25:29,640 --> 00:25:33,280
Speaker 2: offer stock trading twenty four to seven basically, and that's

603
00:25:33,280 --> 00:25:36,159
Speaker 2: because it seems that more folks want this. There's a

604
00:25:36,160 --> 00:25:39,720
Speaker 2: trading platform called twenty four Exchange. They are petitioning the

605
00:25:39,760 --> 00:25:42,960
Speaker 2: SEC to try and become the first platform that allows

606
00:25:43,040 --> 00:25:46,400
Speaker 2: for around the clock buying and selling. And you might say, well, guys,

607
00:25:46,440 --> 00:25:49,520
Speaker 2: doesn't Robinhood already do this? Don't sound like news. This

608
00:25:49,560 --> 00:25:52,879
Speaker 2: is something that you've discussed before, and that's true. But

609
00:25:53,080 --> 00:25:55,760
Speaker 2: while you can buy and sell off hours on Robinhood,

610
00:25:55,800 --> 00:25:59,200
Speaker 2: it's not full unfettered market access all the time. Those trades,

611
00:25:59,200 --> 00:26:02,600
Speaker 2: they're conducted in a few different ways, like including trades

612
00:26:02,640 --> 00:26:05,800
Speaker 2: with Asian countries where it's daytime. But bottom line, we're

613
00:26:05,840 --> 00:26:09,400
Speaker 2: just not fans of this attempt. I think an always

614
00:26:09,480 --> 00:26:12,679
Speaker 2: open trading window obviously it's going to incentivize more trading

615
00:26:12,760 --> 00:26:16,560
Speaker 2: because it's twenty four to seven. Just like, let's see,

616
00:26:16,600 --> 00:26:18,840
Speaker 2: would there be anybody going to Walmart in the middle

617
00:26:18,840 --> 00:26:21,120
Speaker 2: of the night if they weren't open twenty four to seven? No,

618
00:26:21,160 --> 00:26:23,600
Speaker 2: people like the reason somebody is there at three in

619
00:26:23,600 --> 00:26:26,040
Speaker 2: the morning is because it's open. But then, how do

620
00:26:26,240 --> 00:26:28,679
Speaker 2: investors lose money? Well, they well, listeners here at How

621
00:26:28,680 --> 00:26:31,760
Speaker 2: to Money know that the more often you trade and speculate,

622
00:26:31,840 --> 00:26:34,199
Speaker 2: then pay attention to the news. The more often, the

623
00:26:34,240 --> 00:26:37,040
Speaker 2: more frequently you trade, the more likely you are going

624
00:26:37,080 --> 00:26:39,000
Speaker 2: to be to lose money in the short term as

625
00:26:39,000 --> 00:26:40,920
Speaker 2: opposed to being a long term investor.

626
00:26:41,000 --> 00:26:43,600
Speaker 1: It's like a Fidelity study back in the day map

627
00:26:43,600 --> 00:26:47,119
Speaker 1: that found that the best investors were folks who actually.

628
00:26:46,840 --> 00:26:47,840
Speaker 2: Passed away were dead.

629
00:26:48,000 --> 00:26:51,360
Speaker 1: Yeah, because they weren't tinkering with their with their portfolios.

630
00:26:51,400 --> 00:26:53,680
Speaker 1: They stayed the course. And there is a power in

631
00:26:53,720 --> 00:26:56,879
Speaker 1: staying the course. And so yeah, if you're incentivized to

632
00:26:57,600 --> 00:27:00,360
Speaker 1: be on the app more, trading more regularly, you are

633
00:27:00,400 --> 00:27:03,280
Speaker 1: going to come out, typically in the losing position. As

634
00:27:03,280 --> 00:27:05,600
Speaker 1: someone said on Reddit, yes I did look in the

635
00:27:05,600 --> 00:27:07,879
Speaker 1: Reddit message boards on this one. They said, think of

636
00:27:07,920 --> 00:27:09,719
Speaker 1: all the time you weigh sleeping, you could be scoring

637
00:27:09,760 --> 00:27:12,480
Speaker 1: free dopamine hits. I think that's true. I mean, that's

638
00:27:12,520 --> 00:27:16,199
Speaker 1: why I think people opt to you know, opt to

639
00:27:16,240 --> 00:27:18,520
Speaker 1: download those apps and trade on the rag. It's not

640
00:27:18,560 --> 00:27:20,280
Speaker 1: typically because they think they're going to get rich. It's

641
00:27:20,280 --> 00:27:23,480
Speaker 1: because it's a source of fun, I think. But that

642
00:27:23,840 --> 00:27:26,119
Speaker 1: source of fun often leads to losing money. And I

643
00:27:26,119 --> 00:27:28,840
Speaker 1: think if this does happen, it's up to us as

644
00:27:28,840 --> 00:27:31,200
Speaker 1: individuals to tune it out right similar the way, Yeah,

645
00:27:31,200 --> 00:27:32,640
Speaker 1: we have to tune out the twenty four to seven

646
00:27:32,680 --> 00:27:35,720
Speaker 1: news cycle because there's really not that much news that

647
00:27:35,800 --> 00:27:38,760
Speaker 1: we really, actually, truly need to know. There's a lot

648
00:27:38,800 --> 00:27:42,119
Speaker 1: of repetition and sensationalism that's not good for our human brains.

649
00:27:42,400 --> 00:27:45,680
Speaker 1: But heck, they've got time slots to fill. So similarly,

650
00:27:45,760 --> 00:27:48,800
Speaker 1: just because you might be able to trade stalks whenever

651
00:27:48,840 --> 00:27:50,720
Speaker 1: the heck you want it doesn't mean that it's a

652
00:27:50,720 --> 00:27:53,119
Speaker 1: good idea. Will this come to fruition? I don't know,

653
00:27:53,600 --> 00:27:56,080
Speaker 1: but I guess yeah. I'm rooting in the please don't

654
00:27:56,600 --> 00:27:58,680
Speaker 1: do this game. He is going to break more people's brains.

655
00:27:58,760 --> 00:28:01,040
Speaker 2: By the way, So you mentioned downloading the apps and

656
00:28:01,080 --> 00:28:03,640
Speaker 2: where you might be addicted or pulled or lured into

657
00:28:03,680 --> 00:28:06,399
Speaker 2: trading more often, and I know you've got Robin Hood

658
00:28:06,440 --> 00:28:09,800
Speaker 2: in your crosshairs are as you're making that comment.

659
00:28:09,880 --> 00:28:10,480
Speaker 1: I'm trying to hate.

660
00:28:10,520 --> 00:28:12,760
Speaker 2: The reason I'm mentioning this is because this is I

661
00:28:12,800 --> 00:28:15,399
Speaker 2: guess the last week. Yeah, because by next Friday flight,

662
00:28:15,960 --> 00:28:20,000
Speaker 2: when we be yes the match, the IRA match will

663
00:28:20,000 --> 00:28:21,879
Speaker 2: be over. And so if you have been considering that,

664
00:28:21,920 --> 00:28:23,800
Speaker 2: you've gotten until the end of April, at the end

665
00:28:23,800 --> 00:28:25,360
Speaker 2: of this month, so you don't have very many more

666
00:28:25,440 --> 00:28:28,560
Speaker 2: days to take advantage of an IRA match from a

667
00:28:28,600 --> 00:28:31,520
Speaker 2: brokerage that is not your employer. As long as you

668
00:28:31,520 --> 00:28:33,400
Speaker 2: can avoid trading the stonks.

669
00:28:33,520 --> 00:28:35,359
Speaker 1: It's just like Joel said, you got to be able

670
00:28:35,359 --> 00:28:37,639
Speaker 1: to tune that out or it's not worth it. It's

671
00:28:37,680 --> 00:28:39,560
Speaker 1: not worth it because you'll lose more than you gained.

672
00:28:39,600 --> 00:28:41,680
Speaker 1: All Right, Matt I heard from a listener this week

673
00:28:41,840 --> 00:28:44,040
Speaker 1: about where to keep investing dollars that he's keeping on

674
00:28:44,080 --> 00:28:47,240
Speaker 1: the sidelines for now. So he's got one of those

675
00:28:47,560 --> 00:28:49,600
Speaker 1: fun money accounts that we talk about where it's less

676
00:28:49,600 --> 00:28:52,080
Speaker 1: than five percent five percent or less of his overall assets,

677
00:28:52,480 --> 00:28:54,360
Speaker 1: and he's got but he's been investing for a long time,

678
00:28:54,400 --> 00:28:55,960
Speaker 1: so he's got a decent chunk of changing in there.

679
00:28:56,000 --> 00:28:58,440
Speaker 1: And he's got thirty to forty grand he said, that's

680
00:28:58,480 --> 00:29:00,560
Speaker 1: sitting on the sidelines. He's not really to invest it

681
00:29:00,560 --> 00:29:02,440
Speaker 1: in a stock yet. He's like doing his due diligence,

682
00:29:02,480 --> 00:29:05,560
Speaker 1: doing his research. But he was with a brokerage that

683
00:29:05,600 --> 00:29:09,040
Speaker 1: didn't pay almost anything on the money that he had

684
00:29:09,040 --> 00:29:11,400
Speaker 1: on the sideline. So I had to encourage me to

685
00:29:11,400 --> 00:29:14,040
Speaker 1: talk about how yields on money market funds have shot

686
00:29:14,160 --> 00:29:16,080
Speaker 1: up to the five percent range of some of those

687
00:29:16,080 --> 00:29:17,720
Speaker 1: brokerage firms these days.

688
00:29:17,800 --> 00:29:20,600
Speaker 2: Right, So if he was with Robinhood. Again, that's truly

689
00:29:20,600 --> 00:29:22,520
Speaker 2: where this is my last plug for this episode for

690
00:29:22,600 --> 00:29:24,160
Speaker 2: robin Hood. I'm pretty sure it's that five and a

691
00:29:24,240 --> 00:29:26,160
Speaker 2: quarter right now for uninvested money.

692
00:29:26,160 --> 00:29:28,040
Speaker 1: They also have never sponsored hot money, so this is

693
00:29:28,400 --> 00:29:29,600
Speaker 1: they never have goodness of your.

694
00:29:29,480 --> 00:29:31,880
Speaker 2: Heart, and over time I just have changed my toom

695
00:29:32,160 --> 00:29:33,200
Speaker 2: and what it is that they're offering.

696
00:29:33,360 --> 00:29:36,640
Speaker 1: I just I want to just direct people to that though,

697
00:29:36,680 --> 00:29:39,240
Speaker 1: because if you do have money sitting on the sidelines

698
00:29:39,280 --> 00:29:41,520
Speaker 1: at a brokerage firm, that's fine, Like you don't have

699
00:29:41,560 --> 00:29:44,320
Speaker 1: to invest it at tomorrow if you're kind of waiting

700
00:29:44,480 --> 00:29:47,360
Speaker 1: while around while you do some research, but make sure

701
00:29:47,480 --> 00:29:50,320
Speaker 1: that you know that your money is actually receiving some

702
00:29:50,360 --> 00:29:53,880
Speaker 1: sort of reasonable interest payment while it is sitting idle.

703
00:29:53,920 --> 00:29:56,280
Speaker 1: And so you want to make sure you're earning something

704
00:29:56,280 --> 00:29:58,920
Speaker 1: while you're trying to figure out how to proceed. And yeah,

705
00:29:59,000 --> 00:30:01,920
Speaker 1: five percent is a rate you should expect I think now,

706
00:30:02,000 --> 00:30:04,959
Speaker 1: like Betterments five and a half percent, Robinhood five percent

707
00:30:05,680 --> 00:30:08,200
Speaker 1: fidelity is basically five percent too. And I guess the

708
00:30:08,200 --> 00:30:11,040
Speaker 1: other thing to mention here as well is to not

709
00:30:11,120 --> 00:30:15,160
Speaker 1: let money linger on the sidelines for too long, because

710
00:30:15,200 --> 00:30:17,160
Speaker 1: I think a lot of people said ooh, earning five

711
00:30:17,160 --> 00:30:19,280
Speaker 1: percent on savings. This is great, And money that they

712
00:30:19,280 --> 00:30:22,480
Speaker 1: would have otherwise invested, they kept on the sidelines, Matt,

713
00:30:22,720 --> 00:30:24,280
Speaker 1: And that is not where you want to find yourself

714
00:30:24,320 --> 00:30:27,000
Speaker 1: because as the market's been roaring, you don't know when

715
00:30:27,000 --> 00:30:29,560
Speaker 1: to get in. Didn't find yourself trying to time the market.

716
00:30:29,720 --> 00:30:31,120
Speaker 1: That's not a great place to be. It's nice to

717
00:30:31,200 --> 00:30:33,280
Speaker 1: have five percent returns, but make sure it's five percent

718
00:30:33,320 --> 00:30:37,200
Speaker 1: returns on savings, not for money that should have been invested,

719
00:30:37,200 --> 00:30:38,800
Speaker 1: but that you've been kind of just waiting too long

720
00:30:38,840 --> 00:30:39,080
Speaker 1: to do.

721
00:30:39,240 --> 00:30:41,920
Speaker 2: Yeah, short term goal cash that you're planning to spend

722
00:30:41,960 --> 00:30:44,840
Speaker 2: in the near term, yep. Perfect. Otherwise, make sure those

723
00:30:44,880 --> 00:30:47,360
Speaker 2: dollars are invested so you're not missing out on some

724
00:30:47,400 --> 00:30:50,240
Speaker 2: of those big gains. And speaking of wasted money, do

725
00:30:50,320 --> 00:30:53,120
Speaker 2: you see the story Americans are throwing away like sixty

726
00:30:53,160 --> 00:30:57,000
Speaker 2: eight million dollars in coins each and every year. Wow. Yeah,

727
00:30:57,040 --> 00:30:59,080
Speaker 2: so this is I think just another reason to go

728
00:30:59,200 --> 00:31:03,960
Speaker 2: digital perhaps, but a sustainable waste processing company. They're making

729
00:31:03,960 --> 00:31:07,360
Speaker 2: a business out of separating coins from trash in an

730
00:31:07,360 --> 00:31:09,520
Speaker 2: attempt to save these coins and to make a profit.

731
00:31:09,600 --> 00:31:13,760
Speaker 2: And in seven years they've collected ten million dollars in profit,

732
00:31:13,760 --> 00:31:15,440
Speaker 2: which I gotta say, that's a it's a lot of

733
00:31:15,440 --> 00:31:18,040
Speaker 2: money from picking up change from the side sidewalk.

734
00:31:18,080 --> 00:31:20,000
Speaker 1: What do they do? They take like big sacks and

735
00:31:20,000 --> 00:31:21,200
Speaker 1: take it to the coinstar machine.

736
00:31:21,720 --> 00:31:24,240
Speaker 2: They filtered out, you know. But so this leads me

737
00:31:24,320 --> 00:31:27,280
Speaker 2: to ask you, Joel, I doubt you are bending over

738
00:31:27,640 --> 00:31:30,040
Speaker 2: and strain your back to pick up a single penny.

739
00:31:30,120 --> 00:31:32,960
Speaker 2: But how big of a coin does it need to

740
00:31:32,960 --> 00:31:35,320
Speaker 2: be before you're reaching for it on the sidewalk?

741
00:31:35,360 --> 00:31:38,120
Speaker 1: Depends how dirty it is. I guess it's a clean quarter.

742
00:31:38,960 --> 00:31:40,560
Speaker 2: You know what, Even if it's a clean penny, I

743
00:31:40,600 --> 00:31:43,320
Speaker 2: would pick that up. But yeah, like basically the dirtier

744
00:31:43,360 --> 00:31:45,160
Speaker 2: it is, the higher the payoff needs to be because

745
00:31:45,160 --> 00:31:47,720
Speaker 2: of the yuck factor. If it's a.

746
00:31:47,000 --> 00:31:48,480
Speaker 1: Filthy dollar, I'll pick it up.

747
00:31:48,640 --> 00:31:49,280
Speaker 2: Would you really?

748
00:31:49,400 --> 00:31:52,640
Speaker 1: Yeah, I mean it depends on not the filthiest if

749
00:31:52,640 --> 00:31:55,120
Speaker 1: it's like it really really well, It's like when I

750
00:31:55,360 --> 00:31:58,120
Speaker 1: there's a filthy, wet money that was that I picked

751
00:31:58,200 --> 00:32:00,000
Speaker 1: up this is several months ago in the street.

752
00:32:00,200 --> 00:32:02,400
Speaker 2: Well that was like multiple bills. You better believe I'm

753
00:32:02,400 --> 00:32:03,960
Speaker 2: gonna pick that up. Yeah, Like I didn't care what

754
00:32:04,000 --> 00:32:07,320
Speaker 2: it was sitting in and wash it and wash it.

755
00:32:08,040 --> 00:32:10,239
Speaker 2: But yeah, I think you're right. It very much has

756
00:32:10,320 --> 00:32:12,760
Speaker 2: to do with how dirty or how clean it is.

757
00:32:12,800 --> 00:32:14,720
Speaker 1: Yeah, it was just interesting to see some of the

758
00:32:14,720 --> 00:32:17,640
Speaker 1: pictures of how they they clean some of the coins

759
00:32:17,640 --> 00:32:19,720
Speaker 1: that they find, and actually a decent chunk of the

760
00:32:19,760 --> 00:32:23,400
Speaker 1: coins even after cleaning, they're like unusable because they're destroyed

761
00:32:23,400 --> 00:32:26,240
Speaker 1: to that extent. But yeah, really really interesting.

762
00:32:26,360 --> 00:32:29,160
Speaker 2: Speaking of destroying money, I've I've been promising the kids

763
00:32:29,160 --> 00:32:31,400
Speaker 2: that we would go up to the road track and

764
00:32:31,440 --> 00:32:34,320
Speaker 2: tape some coins to the track that next some of

765
00:32:34,360 --> 00:32:37,720
Speaker 2: the train platinum. I'm sure that's like illegal and you're

766
00:32:37,760 --> 00:32:39,400
Speaker 2: actually not even supposed to do that, but I just

767
00:32:39,440 --> 00:32:41,520
Speaker 2: remember doing that as a kid. Yeah, and I feel

768
00:32:41,520 --> 00:32:43,520
Speaker 2: like that's the kind of that's a good wholesome being. Yeah,

769
00:32:43,640 --> 00:32:46,800
Speaker 2: isn't it like be very careful, like stay away from

770
00:32:46,800 --> 00:32:49,760
Speaker 2: the tracks when they're I don't know, I'm sure somebody's

771
00:32:49,800 --> 00:32:52,640
Speaker 2: gonna criticize me for talking about playing around the road

772
00:32:52,680 --> 00:32:53,320
Speaker 2: tracks with kids.

773
00:32:53,400 --> 00:32:55,480
Speaker 1: Well, we also just need to do away with the penny.

774
00:32:55,520 --> 00:32:56,920
Speaker 1: By the way, We've been talking about that and that's

775
00:32:56,960 --> 00:32:58,800
Speaker 1: been talked about for a long time, but pennies cost

776
00:32:58,880 --> 00:33:02,280
Speaker 1: more to create eight then they're actually and it's just

777
00:33:02,440 --> 00:33:04,120
Speaker 1: it's silly that we still have pennies. Can we just

778
00:33:04,160 --> 00:33:06,160
Speaker 1: get rid of them? Please? Maybe even the Nichols at

779
00:33:06,200 --> 00:33:09,200
Speaker 1: the same time, just abolisher both down with Nikels. But

780
00:33:09,240 --> 00:33:09,880
Speaker 1: we don't need them.

781
00:33:09,960 --> 00:33:12,360
Speaker 2: There were five cents. We have five fingers on each hand.

782
00:33:12,360 --> 00:33:12,640
Speaker 1: I don't know.

783
00:33:12,680 --> 00:33:13,680
Speaker 2: Something about that seems.

784
00:33:13,520 --> 00:33:15,480
Speaker 1: Right, Okay, it's probably good for counting purposes, helping your

785
00:33:15,520 --> 00:33:17,880
Speaker 1: kids learn how account but other than that, but pennies

786
00:33:17,880 --> 00:33:18,080
Speaker 1: are just.

787
00:33:18,080 --> 00:33:20,239
Speaker 2: Like completely all right.

788
00:33:20,360 --> 00:33:23,040
Speaker 1: Well, last story, real quick, don't miss out on free

789
00:33:23,080 --> 00:33:27,200
Speaker 1: French fry Friday. You gotta download the Wendy's app to participate,

790
00:33:27,600 --> 00:33:29,280
Speaker 1: and you have to buy something to get the free fries.

791
00:33:29,360 --> 00:33:32,280
Speaker 1: Have to sacrifice your personal information. Man, you remember Wendy's

792
00:33:32,280 --> 00:33:34,240
Speaker 1: fries used to be the worst. They used to be trash.

793
00:33:34,440 --> 00:33:36,200
Speaker 1: I think they've oupgraded them. I think they've gotten better

794
00:33:36,240 --> 00:33:38,280
Speaker 1: in recent years. But I don't know. Maybe it's not

795
00:33:38,280 --> 00:33:38,720
Speaker 1: even worth it.

796
00:33:38,720 --> 00:33:40,240
Speaker 2: They're fine with me. Did you ever get Did you

797
00:33:40,240 --> 00:33:44,240
Speaker 2: ever get the Wendy's Frosty key tag? Oh yeah, kitchen tag.

798
00:33:44,160 --> 00:33:45,680
Speaker 1: For like a buck, you get ten pre Frosty's.

799
00:33:45,880 --> 00:33:48,520
Speaker 2: No, it's like I thought it was a couple of Bucks,

800
00:33:48,560 --> 00:33:51,640
Speaker 2: and then every time you placed any order, you just

801
00:33:51,640 --> 00:33:53,800
Speaker 2: show them your tag and you get a free Frosty.

802
00:33:54,360 --> 00:33:56,400
Speaker 2: And there's one year that Kate is when we're doing

803
00:33:56,400 --> 00:33:58,120
Speaker 2: photography and we're spending a lot of time on the road,

804
00:33:58,560 --> 00:34:01,840
Speaker 2: we're eating a decent amount of fat food, including Wendy's.

805
00:34:02,440 --> 00:34:05,520
Speaker 2: You better believe that we took full advantage of our

806
00:34:05,600 --> 00:34:07,840
Speaker 2: frosty keysag dude, Oh yeah, I don't think it was

807
00:34:07,920 --> 00:34:09,719
Speaker 2: very good for our health though, No, probably not. I

808
00:34:09,719 --> 00:34:12,200
Speaker 2: mean literally, I don't think I've ever eaten so many frosties.

809
00:34:12,440 --> 00:34:14,279
Speaker 2: Then I did that because, especially in the summer when

810
00:34:14,320 --> 00:34:16,759
Speaker 2: it's hot, who doesn't want to wash it all down

811
00:34:16,800 --> 00:34:18,200
Speaker 2: with a nice frost.

812
00:34:18,080 --> 00:34:21,040
Speaker 1: I'm with you, They're delicious, one of the best things

813
00:34:21,040 --> 00:34:21,719
Speaker 1: on the Wendy's menu.

814
00:34:21,760 --> 00:34:23,000
Speaker 2: I wouldn't do it now though, I feel like I'm

815
00:34:23,000 --> 00:34:24,840
Speaker 2: too much of a I'm turning into a health nut

816
00:34:24,880 --> 00:34:27,759
Speaker 2: and the thought of that now just kind of it

817
00:34:27,840 --> 00:34:29,200
Speaker 2: preemptively makes me feel naxious.

818
00:34:29,239 --> 00:34:32,120
Speaker 1: Yeah, that's just how I am. Now, all right, that's

819
00:34:32,160 --> 00:34:34,319
Speaker 1: going to do it for this episode. Thank you as

820
00:34:34,320 --> 00:34:36,640
Speaker 1: always for listening. By the way, we just celebrated our

821
00:34:36,719 --> 00:34:40,440
Speaker 1: two year newsletter Adversary this week and so if you

822
00:34:40,480 --> 00:34:42,719
Speaker 1: haven't signed up with the How of Money newsletter, it's

823
00:34:42,719 --> 00:34:45,360
Speaker 1: going strong more than ten thousand readers. Please do go

824
00:34:45,440 --> 00:34:47,400
Speaker 1: sign up at how to Money dot com slash newsletter.

825
00:34:47,400 --> 00:34:50,560
Speaker 1: It's free, comes to your inbox every Tuesday morning. Well. Also,

826
00:34:50,600 --> 00:34:52,280
Speaker 1: I have show notes up on our website with links

827
00:34:52,360 --> 00:34:54,560
Speaker 1: to some of the articles we mentioned at how tomoney

828
00:34:54,600 --> 00:34:55,080
Speaker 1: dot com.

829
00:34:55,080 --> 00:34:56,440
Speaker 2: That's right. I have a great weekend. We'll see you

830
00:34:56,480 --> 00:34:59,080
Speaker 2: back here on Monday. Until next time, Buddy, best Friend's

831
00:34:59,120 --> 00:35:00,719
Speaker 2: Outum best friends ends out.

832
00:35:14,960 --> 00:35:17,480
Speaker 1: Remember the junior cups. You don't feel too bad. M