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Speaker 1: Welcome to How the Money.

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Speaker 2: I'm Joel and I am Matt.

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Speaker 1: Today we're talking about exorbitant ev charging, interminable training, and

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Speaker 1: being forced to sell. That's right. This is our.

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Speaker 2: Friday flight, Joel.

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Speaker 3: This is our weekly roundup of the most relevant news

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Speaker 3: stories out there, how they're going to impact your money,

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Speaker 3: and what it is.

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Speaker 2: That you should be doing about it.

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Speaker 1: Yeah, and the man, there's a lot of stuff in

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Speaker 1: the news. We're talking about the stuff that partakes your.

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Speaker 3: Money right and specifically the relevant items because there's a

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Speaker 3: whole lot out there that it doesn't really matter.

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Speaker 1: But uh yeah, or there's just a lot of stuff

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Speaker 1: that matters, but like we don't talk about it because

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Speaker 1: it's just.

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Speaker 3: On our radar, not in our field. Joel actually had

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Speaker 3: a quick I wanted to get your opinion. What do

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Speaker 3: you think about setting out milk and cookies not for Santa,

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Speaker 3: but for the FedEx ups, Amazon Prime package deliverers out there.

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Speaker 3: All those folks think you're on the right path, you

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Speaker 3: know the but I'm talking about like this a junk

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Speaker 3: milk out there for real, not like literal milk cookies.

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Speaker 3: I'm talking like snacks out there for the folks who

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Speaker 3: are working hard this season.

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Speaker 2: I dig this.

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Speaker 1: So I didn't even know this was a thing until

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Speaker 1: some of my friends had, Like a I walked up

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Speaker 1: to their house to snag my daughter who was hanging

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Speaker 1: and playing with their daughter, and I saw this big

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Speaker 1: snack pack of goodies for and it was like a

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Speaker 1: little sign for delivery drivers, Hey take something, And I

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Speaker 1: was like, this is brilliant. Why have I not done this?

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Speaker 1: So I'm thinking of an institute that you think?

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Speaker 2: So I think.

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Speaker 3: So I feel like it's I think it makes sense

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Speaker 3: for folks who do a whole lot of ordering. It's

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Speaker 3: almost like a confession that like, yes, we live online

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Speaker 3: and we purchased all of our stuff from the internet

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Speaker 3: as a post, which is fine, like especially if you're looking.

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Speaker 2: For the best deals and and all that. But I

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Speaker 2: don't know.

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Speaker 1: They also hate going into stores, which yeah, I.

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Speaker 3: Do not like going into the stores, but like, I

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Speaker 3: guess it's the snack part of it that also bothers me,

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Speaker 3: because like I'm not a big fan of snacking throughout

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Speaker 3: the day. And food is it just food that's just

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Speaker 3: out there for how long?

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Speaker 2: How long is that food out there just like forever?

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Speaker 1: No, just for I think especially during this time of year.

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Speaker 1: Think about how hard those delivery drivers are working. They're

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Speaker 1: like breaking their backs to deliver packages. People probably yes,

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Speaker 1: and so they probably. I think if it was me,

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Speaker 1: if I was working for FedEx and I went up

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Speaker 1: on that porch and I saw, you know, not the

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Speaker 1: healthiest snacking the world, some pringles or something like that,

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Speaker 1: but I would probably be like, oh, man, this is

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Speaker 1: really cool. Even if I didn't end up taking it

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Speaker 1: because I wasn't my jam, I would feel like I

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Speaker 1: was thought of.

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Speaker 3: Yeah, I wish there was another way to show the appreciation.

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Speaker 3: I guess that's it because I think about what I

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Speaker 3: if I was in their position, would I rather be

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Speaker 3: snacking on pringles and slim gyms all day or.

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Speaker 1: Like into a slim jam man they get.

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Speaker 3: You get a lunch break and the ability to dig

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Speaker 3: into some leftovers.

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Speaker 2: It's hard to snack. I don't know.

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Speaker 3: Now, I'm trying to picture what life is like actually

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Speaker 3: driving around these trucks, and I don't know, Like, I'm

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Speaker 3: sure by law they are required to have a lunch break,

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Speaker 3: but I guarantee there's a lot of folks out there

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Speaker 3: where their hours are pushing into the mandated lunch break.

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Speaker 1: Well, some of these people are contractors and they there's

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Speaker 1: probably no law. They're probably making their own hours, and

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Speaker 1: they're just hustling, and they're hustling and so maybe that, yep,

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Speaker 1: does provide a little bit of sustenance.

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Speaker 3: But it almost makes me want to leave a tip

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Speaker 3: out there though, like actual money as opposed to which.

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Speaker 1: Is Food's cool idea too, if you want to go

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Speaker 1: that route, it's just harder to police that.

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Speaker 2: Yeah, So I don't know.

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Speaker 1: I think there are ways that we can this time

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Speaker 1: of year be thoughtful show appreciation. I mean it makes

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Speaker 1: me think I love that front of the show. Andy Hill,

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Speaker 1: who has the website podcast Marriage, Kids and Money. We've

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Speaker 1: had him on the show before and he does this

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Speaker 1: thing called Big Tip Tuesday, and he'll tip the guy

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Speaker 1: who cuts his hair fifty bucks, or he goes out

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Speaker 1: to eat at a place and that one of his

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Speaker 1: favorite places, and he'll tip far above and beyond, dramatically

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Speaker 1: above and beyond what he normally does. And so I

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Speaker 1: just think, like that's whether we're giving to charities, that's

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Speaker 1: a great thing to do with money that we have,

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Speaker 1: but also like tipping and seeing the people who the

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Speaker 1: service people in our lives who are doing so much

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Speaker 1: for us, but it goes unrecognized so much of the time. Yeah,

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Speaker 1: that's probably a good thing to keep in mind this

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Speaker 1: time here.

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Speaker 3: And the problem is with the delivery is oftentimes you're

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Speaker 3: not there, so you don't I wouldn't have the ability

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Speaker 3: to actually tip them, and it's like, all right, just

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Speaker 3: take one dollar. You don't like leave a bucket of

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Speaker 3: dollars there. That's not gonna happen. I will say, speaking

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Speaker 3: of delivery trucks, I'm seeing more and more of the

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Speaker 3: Rivian Amazon vans, which are amazing. And on that note,

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Speaker 3: one of the coolest things about going from gas to

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Speaker 3: electric is the money that you get to save on gasoline.

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Speaker 3: Depending on how much you drive, you can truly save

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Speaker 3: hundreds of dollars a month. But specifically where you charge

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Speaker 3: with an EV that matters a ton. The website Autotopian

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Speaker 3: they had an article about just how expensive it can be,

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Speaker 3: and in their story they charged a Rivian R one

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Speaker 3: s but of course this applies to other evs as well. Sorry,

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Speaker 3: my dream vehicle, but if you end up at the

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Speaker 3: wrong charging station, you are going to pay a ton more.

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Speaker 3: You might be paying upwards of forty cents, and then

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Speaker 3: I saw actually later in the story, I think in

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Speaker 3: one instance out in California, somewhere in LA he was

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Speaker 3: paying sixty six cents per kill a what hour to

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Speaker 3: fill up his EV depending on the public charging station

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Speaker 3: that you go to. He crunched the numbers into the

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Speaker 3: math on the forty cents per kill kill a what hour,

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Speaker 3: and that equates to only getting nineteen miles per gallon

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Speaker 3: in a traditional internal combustion engine vehicle, which isn't great.

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Speaker 3: There's a whole lot of vehicles out there that can

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Speaker 3: get much higher than that, and so of course charging

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Speaker 3: at home most of the time, that is going to

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Speaker 3: be crucial if you want to actually save money by

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Speaker 3: owning and driving and electric vehicle. But still, I think

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Speaker 3: EV's they can be fun to drive, They can make

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Speaker 3: a ton of sense for a decent chunk of the population.

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Speaker 3: You just got to make sure you're on that super

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Speaker 3: off peak hour plan where you're paying two cents. It's

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Speaker 3: just mind blowing, like that's so where.

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Speaker 1: We are copasically sixty six cents if you're at the

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Speaker 1: wrong charting.

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Speaker 2: Station, or or three times that.

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Speaker 3: Yeah, there is such a market difference in the like,

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Speaker 3: is there anything that has that wide of a disparity

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Speaker 3: between like the most affordable and the most expensive?

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Speaker 2: I think about that.

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Speaker 1: I think there is, for like, think about bottle water.

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Speaker 1: Whatch you pay when you buy a forty eight pack

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Speaker 1: at Costco or something you're talking about less than twenty

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Speaker 1: cents or even more affordable just it coming out of

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Speaker 1: your tap, right, But I'm just saying, yeah, exactly. Like

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Speaker 1: the equivalent is again, you going back home filling up

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Speaker 1: your water bottle at home? How much are you paying

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Speaker 1: for that as opposed to the glass bottle of you

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Speaker 1: just get a bottle the nicest glacier water that you

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Speaker 1: can afford, like a baseball game or something like that,

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Speaker 1: think about how much it costs. Yeah, the price disparity

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Speaker 1: depending on where you get the thing matters so much.

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Speaker 1: And so if you're going to be filling up your

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Speaker 1: ev with electricity on the go most of the time,

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Speaker 1: it's not going to save you nearly as much money

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Speaker 1: as you think a huge part of the savings that

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Speaker 1: you that accrues to you is if you charge more

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Speaker 1: at home. Makes me think one more thing, Matt, that

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Speaker 1: I had a Nissan Leaf for six years that got

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Speaker 1: the range was terrible. I still charge it at home

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Speaker 1: ninety plus percent of the time. It went a solid

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Speaker 1: fifteen miles, right, And I think everybody people when they

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Speaker 1: get an EV, they think, oh, I need a level

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Speaker 1: two charger, And a level two charger can be nice,

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Speaker 1: but I think it's also not a necessity. So this

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Speaker 1: thing's ten charge being run like five or six hundred

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Speaker 1: bucks plus you might have to pay someone to install

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Speaker 1: it for you. Well, you can literally trickle charge from

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Speaker 1: the three prong outlet in your garage or on the

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Speaker 1: side of your house, and you might find that it's

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Speaker 1: unnecessary to pay for that too. So it's true. Just

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Speaker 1: think about that if you're thinking about upgrading to an

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Speaker 1: electric vehicle. They're great, but charging at home makes a

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Speaker 1: big difference.

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Speaker 3: I should have been running for Autotopian or whatever we

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Speaker 3: talked about on the show. How when we rented when

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Speaker 3: Kit and I rented at Tesla a couple of years

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Speaker 3: ago out in Colorado. Yeah, when we flew out there

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Speaker 3: and I did the math of the total that we

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Speaker 3: spent with the miles that we drove that we drove

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Speaker 3: and the average cost per gallon out there in Colorado

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Speaker 3: and it was roughly equivalent. Yeah, that's because I was

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Speaker 3: on the Tesla superchargers, which, yeah, I don't think I

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Speaker 3: was paying nearly at the forty four or sixty six

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Speaker 3: cents per kill a lot hour. But yeah, like when

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Speaker 3: you do the math, it's easy to see how how

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Speaker 3: does you can potentially end up paying.

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Speaker 1: I went on the road trip, the backpacking trip with

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Speaker 1: a buddy on the West Coast earlier this year, and that, yeah,

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Speaker 1: filling up at the Tesla charging stations was expensive. Like

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Speaker 1: it's still cheaper in California to do that than to

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Speaker 1: go to the gas station, but it's not that much cheaper,

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Speaker 1: whereas if you charge at home it is.

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Speaker 2: That's the one downside to evs.

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Speaker 1: Yeah, when you're not driving your car, mat walking, we've

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Speaker 1: always suggested it given me a great way to get

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Speaker 1: rid your bike. Riding your bike to either way, whatever

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Speaker 1: your preference, riding your bikes can be faster.

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Speaker 2: Episode number one right there, right out of money.

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Speaker 1: We've been talking about it for a long time, and

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Speaker 1: that's especially true right when you're taking trips in that one,

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Speaker 1: two or three mile range. But it turns out to

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Speaker 1: migrate shock at least most folks they actually don't want

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Speaker 1: to live in a walkable neighborhood. There was some new

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Speaker 1: research from Pew which found that fifty seven percent of

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Speaker 1: folks prefer to live in it in the suburban sprawl right,

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Speaker 1: which basically means that you need to get into a

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Speaker 1: car to do anything, versus living in a neighborhood that

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Speaker 1: has walkable amenities like being able to walk to your kids' school,

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Speaker 1: walking to a store or a restaurant that you care about.

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Speaker 1: Walkable neighborhoods are actually also more expensive to live in

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Speaker 1: when you look at the numbers, largely because there are

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Speaker 1: fewer of them. But if you live in a walkable area,

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Speaker 1: it might allow you to ditch a car, making that

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Speaker 1: trade off far less financially harmful.

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Speaker 2: That's true.

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Speaker 1: I was just surprised, I guess, because to me it

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Speaker 1: seems so idyllic, and I have always prioritized living in

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Speaker 1: walkable areas, whether it's urban or suburban. And I know

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Speaker 1: that it's it's not always easy to pull that off,

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Speaker 1: but I don't know. For me, it's a quality of

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Speaker 1: life standpoint. I would rather live in a smaller house

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Speaker 1: and live somewhere that's walkable.

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Speaker 2: See, that's the problem.

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Speaker 3: Is that people's that's the challenge is to say, how

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Speaker 3: do I actually need all of this additional square footage?

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Speaker 3: Because it's not that folks preferred to not live in

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Speaker 3: a walkable neighborhood. It's that they preferred to have a

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Speaker 3: little bit more space over being able to live in

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Speaker 3: the walkable neighborhood. And so like that is like, that's

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Speaker 3: where the bottleneck is. Is like, Okay, you say you

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Speaker 3: need this more space because it's more affordable, But do

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Speaker 3: you actually need more space? Could you get by in

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Speaker 3: a smaller place perhaps, and then you are somewhere where

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Speaker 3: that is walkable and it's not costing you more, yeah

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Speaker 3: than being out in the burbs.

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Speaker 1: You know, they say that cotton is the fabric of

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Speaker 1: our lives. Matt, I think these are like the decisions

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Speaker 1: that make up our lives. And the more we can

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Speaker 1: live in a place that is a little more walkable, man,

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Speaker 1: the way our lives look and what our days look like.

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Speaker 1: The choices that we make tend to shift when we

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Speaker 1: live in a place that's more walkable and bikable. And

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Speaker 1: so yeah, don't think of it maybe just in terms

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Speaker 1: of dollars and cents, although that's a really important part

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Speaker 1: of the equation. But I think again, there are other

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Speaker 1: potential ways to save money if you live in a

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Speaker 1: more walkable place. Not for everyone, but I think I'm

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Speaker 1: going to advocate it, probably till the day I die.

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Speaker 2: It's true, all.

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Speaker 3: Right, Coffee prices they continue to go up quickly. They

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Speaker 3: have risen now to a forty seven year high. This

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Speaker 3: is according to Semaphore extreme weather in Vietnam and Brizi

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Speaker 3: Zill Brizil specifically where they had droughts and then a

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Speaker 3: whole lot of rain, which I guess isn't.

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Speaker 1: Good for the coffe.

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Speaker 3: Rain. Yeah, we like washed a lot of that away.

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Speaker 3: That had a lot to do with that. And you know,

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Speaker 3: we're not the don't ever drink coffee out dudes. But

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Speaker 3: as the price for your favorite beverage as it goes up,

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Speaker 3: which it already has been and it's likely going to

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Speaker 3: continue to, I think you might want to consider pivoting

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Speaker 3: making more coffee at home. We're huge fans of that,

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Speaker 3: because even though your one pound bag of coffee might

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Speaker 3: also cost more, it's going to be vastly more affordable

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Speaker 3: to diy your own coffee as opposed to going out

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Speaker 3: and On that note, I'm proud to say that I

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Speaker 3: recently was at Whole Foods. Recently we've been buying our

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Speaker 3: fancy coffees, specifically Intelligentsia and counterculture. Those are two good ones.

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Speaker 3: And last time I was there, they were on drastic sale.

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Speaker 3: There you go, and so normally these these little bags

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Speaker 3: of coffee and they go for like over sixteen bucks, Joel,

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Speaker 3: they were like down to eleven dollars. How many would

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Speaker 3: you have purchased if you saw a discount like that,

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Speaker 3: I'm gonna say four about six wow, because I'm addicted

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Speaker 3: to caffeine.

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Speaker 1: I was gonna say our favorite beverage, bounce on man.

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Speaker 1: People might assume our favorite beverage is beer o contreier coffee.

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Speaker 1: It's more of a if I had to give one

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Speaker 1: or the other up, I would give up beer over coffee.

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Speaker 2: I would.

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Speaker 3: We are drinking less these days, drink less beer. It's

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Speaker 3: just good for your health, and coffee makes you a

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Speaker 3: little more productive. But the extent of that discount had

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Speaker 3: to do with the fact that we were Amazon Prime members,

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Speaker 3: and you know, Well almost said Wells Fargo Whole Foods

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Speaker 3: same abbreviation, so they have that partnership with Amazon, and

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Speaker 3: you have to make sure to scan by Amazon.

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Speaker 2: Oh yeah, that's right. I forget about that.

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Speaker 3: But if you go to the Amazon app and swipe

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Speaker 3: over to the in store purchase, I didn't realize that

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Speaker 3: there is an actual item that you select and then

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Speaker 3: you can scan the QR code. It took me a

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Speaker 3: second to figure that out because I never go to

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Speaker 3: Whole Foods, but we've only recently started going there.

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Speaker 1: The Amazon's purchase of Whole Foods has been so good

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Speaker 1: for pricing at Whole Foods. And I don't shop at

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Speaker 1: Whole Foods almost ever, but I've been getting pizza there

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Speaker 1: more often, and they've got these Friday night pizza deal

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Speaker 1: let's talked about like a cheese piece of game. If

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Speaker 1: you sign in or whatever, make sure to get your

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Speaker 1: Amazon Prime discount. And even though I don't chop in

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Speaker 1: Whole Foods much, I'm a fan. We you and I

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Speaker 1: are fans of John mackew started Whole Foods. We interviewed

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Speaker 1: him I don't know what, like six months ago. We'll

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Speaker 1: link to that one in the show notes. Another price increase,

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Speaker 1: Matt that happened just this week. YouTube tv raised its

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Speaker 1: price by fourteen percent from seventy three bucks a month

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Speaker 1: to eighty three dollars a month. Nobody has really been

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Speaker 1: able to figure out how to make live TV work

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Speaker 1: and make it less expensive.

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Speaker 2: Sports are a lot of money.

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Speaker 1: Sports are the main reason, the main culprit behind that,

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Speaker 1: and now live sports is disseminating essentially to all the

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Speaker 1: other streaming platforms too. It's in bits and chunks. So

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Speaker 1: I guess the best recipe to save money on like

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Speaker 1: streaming TV like that is to just not care about

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Speaker 1: live TV, stop watching sports because less that's that's really

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Speaker 1: the thing that's going to like smack you around from

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Speaker 1: a pricing perspective.

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Speaker 3: So I will say I've recently changed my tune on

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Speaker 3: you know how You to Be is in particular when

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Speaker 3: it comes to the ad breaks across all the different platforms.

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Speaker 3: How there's the more affordable version as long as it's

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Speaker 3: as long as you can you can.

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Speaker 2: Get hit with the ad breaks.

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Speaker 3: Well, I still hate it personally, Like if you're watching

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Speaker 3: a movie, Man, I hate it if your movie is

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Speaker 3: broken up by stupid commercials.

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Speaker 2: It just totally like ruins it.

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Speaker 3: But I'm more I don't think it ruins it, but

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Speaker 3: it spoils it a little bit, but I am more

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Speaker 3: open to it because, like I guess one of the

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Speaker 3: arguments prior was I didn't like the fact that the

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Speaker 3: kids were sitting there and they're just like, oh, they're

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Speaker 3: getting they're getting.

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Speaker 2: Brainwashed by the different ads.

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Speaker 3: But you know what, I think, I've I'm starting to

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Speaker 3: change my tune on that because when our kids like

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Speaker 3: launch out and start their own lives, they're going to

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Speaker 3: be exposed to advertising. I'm like, man, I grew up

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Speaker 3: watching Saturday Morning Cartoons and TGIF on Fridays in the evening,

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Speaker 3: watching Family Matters by step Yeah, yeah, that's that's the

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Speaker 3: Panga and Corey Corey Matthews. But there's almost a sense

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Speaker 3: of like inoculation and getting exposed to advertising that helps them,

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Speaker 3: I think, to be like well adjusted out in the world.

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Speaker 3: So all that to say, I've kind of changed my

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Speaker 3: tune a little bit when it comes to kids and

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Speaker 3: advertising specifically.

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Speaker 1: Forcibly, make your children look at all the billboards as

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Speaker 1: you're but.

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Speaker 2: Like, obviously they see those out there.

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Speaker 1: But I'm surprised. I'm surprised that you say that.

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Speaker 3: Culture like there's a certain amount of things that they

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Speaker 3: just learn from watching advertisements on TV, and they're only

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Speaker 3: getting more and more and more sophisticated, like TV ads

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Speaker 3: are probably the least nefarious of the types of advertising

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Speaker 3: that they're going to be exposed to, so may as

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Speaker 3: well kind of get their advertising booster shot a little

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Speaker 3: bit while they're at home.

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Speaker 1: All the data I've seen too points that the streaming

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Speaker 1: providers want you to be on the ad supported version

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Speaker 1: because they make more money from that you're paying us.

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Speaker 1: As opposed, they make more because the ads combined with

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Speaker 1: what you're paying means they're making more than the non

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Speaker 1: ads supported I believe it.

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Speaker 3: Joel the Wall Street Journal, they had an article about

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Speaker 3: the uptick in market timing. Their thesis is that COVID

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Speaker 3: that fundamentally changed the way that many folks approach their investments.

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Speaker 3: Folks are treading more frequently and more inefficiently. Were of course,

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Speaker 3: they're attempting to juice their returns right, They're attempting to

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Speaker 3: divine where the market is headed, but then they end

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Speaker 3: up costing themselves dearly. The author of the article there

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Speaker 3: believed that this ill advised strategy has led to returns

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Speaker 3: that are greater than half a percent lower for those

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Speaker 3: investors than the otherwise would have been, which doesn't sound awful,

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Speaker 3: but it is because like those less robust returns, they

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Speaker 3: add up significantly over time, Like we're talking about, even

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Speaker 3: with just maxing out an IRA over the course of

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Speaker 3: thirty years a one percent difference, you're looking at over

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Speaker 3: two hundred and fifty thousand dollars in returns at the

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Speaker 3: end of that period. So just goes to show that

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Speaker 3: normal humans, as it turns out, that we're not great

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Speaker 3: active investors, which is why setting it and forgetting it

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Speaker 3: the automatic dollar cost averaging approach and paying less attention

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Speaker 3: to media and immediate results that that is so crucial.

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Speaker 3: Getting that money in the market and invested is far

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Speaker 3: more important than trying to get it in at the

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Speaker 3: exact right moments. It's not about timing the market. It's

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Speaker 3: about time in the market.

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Speaker 1: Well, then you talk about the fee essentially that's being charged.

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Speaker 1: This is more of like a self imposed stupid fee

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Speaker 1: though than it is a fee that an advisor's charging

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Speaker 1: and the advisor gives you like, oh man, you might

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Speaker 1: be costing yourself a quarter of a million dollars in

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Speaker 1: returns because of this self imposed fee. At least if

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Speaker 1: you hire an advisor, you're getting some sort of you're

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Speaker 1: getting something for your money, whereas this it's it's literally

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Speaker 1: you trying to create a superior return and what you're

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Speaker 1: doing is you're getting inferior results. There's one thing that

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Speaker 1: could maybe make this phenomena of tinkering with your portfolio worse,

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Speaker 1: and that's access to trading in the stock market twenty

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Speaker 1: four to seven, all day, every day. Right now. The

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Speaker 1: timeframe is nine thirty to four right that's Monday through Friday.

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Speaker 1: That's been the hours for like a long time. But

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Speaker 1: Robin Hood and Interactive Brokers to different broker's firms, they

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Speaker 1: added twenty four to seven trading of individual stocks last year,

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Speaker 1: and then other companies like Schwab, they're kind of attempting

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Speaker 1: to mimic these startups. They want their traders, their customers

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Speaker 1: to have access to the same And I don't know,

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Speaker 1: we might be yelling into the void here. I don't

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Speaker 1: think the genie's going back into the bottle and training

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Speaker 1: has gotten easier. I think it's also gotten more enticing,

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Speaker 1: and let's say we make it more frequent as well.

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Speaker 1: The ability to trade whenever you want. I just don't

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Speaker 1: see that as a good thing for individual investors. I mean,

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Speaker 1: we think the right thing to do is to avoid

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Speaker 1: all the bells and whistles when it comes to investing.

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Speaker 1: No need to stay up late to trade based on

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Speaker 1: breaking news and how you think that's going to impact

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Speaker 1: a specific company or sector. If you're investing for the

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Speaker 1: long haul, did just the auto dollar cost averaging, it

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Speaker 1: still makes sense. So no matter whether these companies, these

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Speaker 1: brokers firms say you can trade whatever you want, you

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Speaker 1: can say, ah, I don't care, I'm just not interested in.

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Speaker 2: Yes, that's right.

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Speaker 3: It makes me think of that study I forget who

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Speaker 3: it was where broker's looked at the accounts owned by

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Speaker 3: people who had died and those accounts actually were the

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Speaker 3: ones that performed the best because they weren't being Teamcurtains right.

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Speaker 2: And in addition to.

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Speaker 3: That, investors that they're not even doing some of the

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00:19:10,680 --> 00:19:14,760
Speaker 3: most basic things well like using their health savings accounts properly.

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Speaker 3: And new stats out there show that HSA users that

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Speaker 3: they're not investing inside of their accounts. Only a fifth

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Speaker 3: are not only funding their HSA but actually investing those

439
00:19:25,560 --> 00:19:28,720
Speaker 3: dollars for their future. And we've talked about HSA's a

440
00:19:28,720 --> 00:19:31,880
Speaker 3: good bit here on the show. It's not right for

441
00:19:32,040 --> 00:19:35,080
Speaker 3: everyone out there. For some folks utilizing the HSA to

442
00:19:35,200 --> 00:19:39,400
Speaker 3: pay for their medical costs that year, that is how

443
00:19:39,440 --> 00:19:41,280
Speaker 3: they need to be using it, but it's not the

444
00:19:41,280 --> 00:19:44,160
Speaker 3: most optimized and ideal way of doing it. Because if

445
00:19:44,200 --> 00:19:46,959
Speaker 3: you can fund your current health care needs with cash

446
00:19:47,280 --> 00:19:49,400
Speaker 3: that you have on hand, well, that's going to allow

447
00:19:49,400 --> 00:19:52,439
Speaker 3: those tax exempt dollars there within the HSA to grow

448
00:19:52,600 --> 00:19:55,520
Speaker 3: for your future in a significant way. But as more

449
00:19:55,520 --> 00:19:58,040
Speaker 3: and more folks get HSA's which is good, there's still

450
00:19:58,080 --> 00:19:59,959
Speaker 3: going to be more work to be done to encourage

451
00:20:00,080 --> 00:20:03,399
Speaker 3: folks to lever them properly for retirement, especially if you

452
00:20:03,400 --> 00:20:06,200
Speaker 3: are looking for a way to retire early and tap

453
00:20:06,240 --> 00:20:08,439
Speaker 3: some of your retirement accounts in a way that's not

454
00:20:08,440 --> 00:20:11,040
Speaker 3: gonna that's not gonna leave you paying an additional ten

455
00:20:11,080 --> 00:20:13,320
Speaker 3: percent because you're looking to withdraw your funds early.

456
00:20:13,440 --> 00:20:13,680
Speaker 2: Yeah.

457
00:20:13,800 --> 00:20:16,480
Speaker 1: Yeah, And as we say that, AHSA is the only

458
00:20:16,800 --> 00:20:19,679
Speaker 1: account that we know of that essentially or that in

459
00:20:19,760 --> 00:20:23,400
Speaker 1: existence that allows you to forego paying tax on money

460
00:20:23,400 --> 00:20:25,760
Speaker 1: that goes into that account altogether, Like you never pay

461
00:20:25,800 --> 00:20:28,120
Speaker 1: the tax man on HSA dollars, which is cool. But

462
00:20:28,200 --> 00:20:31,960
Speaker 1: the key is growing those dollars by investing them. All Right, man,

463
00:20:32,000 --> 00:20:35,040
Speaker 1: We've got more to get to on this episode, including

464
00:20:35,480 --> 00:20:39,199
Speaker 1: a retirement benefit for student loan borrowers. Will get to

465
00:20:39,240 --> 00:20:49,280
Speaker 1: that and more right after this. All right, buddy, we are.

466
00:20:49,240 --> 00:20:51,520
Speaker 2: Back from the break. The Friday flight continues.

467
00:20:52,000 --> 00:20:54,640
Speaker 3: Now it is time for the ludicrous headline of the week,

468
00:20:54,640 --> 00:20:58,840
Speaker 3: which is from USA today. The headline reads, Grandpa, cut

469
00:20:58,920 --> 00:21:02,520
Speaker 3: up that card hard. Share of retirees have credit card debts.

470
00:21:03,000 --> 00:21:07,320
Speaker 3: This is disheartening, Joel. The share of older Americans who

471
00:21:07,400 --> 00:21:10,439
Speaker 3: are clinging on to debt, it continues to rise. There

472
00:21:10,520 --> 00:21:14,359
Speaker 3: is new research from the Employee Benefit Research Institute, and

473
00:21:14,400 --> 00:21:18,840
Speaker 3: they found that six and ten retirees have some form

474
00:21:18,840 --> 00:21:21,720
Speaker 3: of debt, and of those folks, the majority are still

475
00:21:21,720 --> 00:21:24,000
Speaker 3: hanging on to their credit cards and the debt and

476
00:21:24,040 --> 00:21:26,439
Speaker 3: the payments that go along with that specifically, which is

477
00:21:26,720 --> 00:21:29,320
Speaker 3: like there's a big difference between that and let's say,

478
00:21:29,359 --> 00:21:31,879
Speaker 3: low interest mortgage debt. If that was the case, Like,

479
00:21:31,920 --> 00:21:33,359
Speaker 3: if you know you're hanging onto a three and a

480
00:21:33,359 --> 00:21:35,760
Speaker 3: half percent mortgage, I'm fine with that. I'm cool with

481
00:21:35,800 --> 00:21:38,040
Speaker 3: the idea of keeping that around. But to have credit

482
00:21:38,040 --> 00:21:42,359
Speaker 3: card debt, especially in your retirement years. That is a

483
00:21:42,359 --> 00:21:45,919
Speaker 3: massive problem. And so this is a quick little story,

484
00:21:46,000 --> 00:21:49,160
Speaker 3: just quick little PSA for folks, especially for folks out

485
00:21:49,160 --> 00:21:49,920
Speaker 3: there who.

486
00:21:49,800 --> 00:21:52,080
Speaker 2: Have parents who might be in a situation like this.

487
00:21:52,240 --> 00:21:55,320
Speaker 1: Mm hmm, yeah, I would maybe proud and ask, or

488
00:21:55,320 --> 00:21:57,040
Speaker 1: if you're assuming that they do, or if you've heard

489
00:21:57,080 --> 00:21:59,560
Speaker 1: them mention it, talk about the importance of paying it off.

490
00:21:59,600 --> 00:22:01,760
Speaker 1: You don't want to lecture your parents, right, that's never

491
00:22:01,840 --> 00:22:06,240
Speaker 1: a good tactic to take. But ensuring that your parents

492
00:22:06,320 --> 00:22:09,000
Speaker 1: don't have loads of credit card debt or have access

493
00:22:09,000 --> 00:22:11,120
Speaker 1: to the help they need if they do, is important.

494
00:22:11,119 --> 00:22:13,159
Speaker 1: But man, it's not not just old people. So I

495
00:22:13,160 --> 00:22:16,280
Speaker 1: think something like fifty percent of American households have recurring

496
00:22:16,280 --> 00:22:18,600
Speaker 1: credit card debt in their lives. And while at Hub

497
00:22:18,680 --> 00:22:22,080
Speaker 1: just released new dispearting figures on the overall debt load

498
00:22:22,160 --> 00:22:24,600
Speaker 1: that we have in this country, it turns out that

499
00:22:24,640 --> 00:22:28,199
Speaker 1: the average household credit card debt has surpassed ten thousand bucks.

500
00:22:28,520 --> 00:22:31,320
Speaker 1: That's a scary amount of money to have in credit

501
00:22:31,320 --> 00:22:31,680
Speaker 1: card debt.

502
00:22:31,680 --> 00:22:33,360
Speaker 2: I have figures, man, Yeah I don't like it.

503
00:22:33,480 --> 00:22:37,000
Speaker 1: And the new record, man, we passed a trillion dollars

504
00:22:37,000 --> 00:22:39,760
Speaker 1: in overall credit card debt not all that long ago,

505
00:22:39,800 --> 00:22:42,240
Speaker 1: and now we're at one point three trillion, so it

506
00:22:42,320 --> 00:22:45,520
Speaker 1: just kind of continues to grow and fester and not

507
00:22:45,560 --> 00:22:47,800
Speaker 1: going to beat a dead horse. But credit card interest

508
00:22:47,840 --> 00:22:50,560
Speaker 1: rates are awful. They have not gotten much better as

509
00:22:50,640 --> 00:22:53,600
Speaker 1: rate cuts have started. Credit Cards can be a great tool,

510
00:22:53,640 --> 00:22:56,480
Speaker 1: we say this all the time if you use them wisely,

511
00:22:56,840 --> 00:22:58,880
Speaker 1: but you can ruin your finances if you don't.

512
00:22:59,080 --> 00:23:01,920
Speaker 3: Yeah, So for listen out there keeping score. We're still

513
00:23:01,960 --> 00:23:05,640
Speaker 3: not fans of Ticketmaster Sherwood News. They detail the many

514
00:23:05,680 --> 00:23:08,600
Speaker 3: ways that I did not know this, but essentially they

515
00:23:08,680 --> 00:23:12,720
Speaker 3: own many other businesses that feed into the main ticketing

516
00:23:12,760 --> 00:23:15,320
Speaker 3: business that you think of when you think of Ticketmaster,

517
00:23:15,800 --> 00:23:18,320
Speaker 3: and that helps to boost the profits at the expense

518
00:23:18,480 --> 00:23:21,520
Speaker 3: of their patrons and so uh so when it comes

519
00:23:21,520 --> 00:23:24,040
Speaker 3: to these these shows, basically the ticketing only makes up

520
00:23:24,080 --> 00:23:26,960
Speaker 3: a small percentage of their overall revenue, think which they.

521
00:23:26,880 --> 00:23:29,800
Speaker 1: Can claim and make it sound like, oh, we're not bad,

522
00:23:29,840 --> 00:23:31,560
Speaker 1: look at we only make this much money.

523
00:23:31,320 --> 00:23:35,320
Speaker 3: From ticket but they're making massive markups on the different

524
00:23:35,359 --> 00:23:37,960
Speaker 3: parking companies that they own, or like if you go

525
00:23:38,000 --> 00:23:40,439
Speaker 3: to a show and they've got lawn chair rentals booze

526
00:23:40,440 --> 00:23:42,960
Speaker 3: trucks things like that. Maybe you're not even a fan

527
00:23:43,040 --> 00:23:45,600
Speaker 3: of Booze my boos. You mean like forty dollars, margree,

528
00:23:45,720 --> 00:23:47,399
Speaker 3: if you want to spend that money, that's told that

529
00:23:47,520 --> 00:23:50,000
Speaker 3: that's on you. But what we're highlighting here is that

530
00:23:50,040 --> 00:23:52,280
Speaker 3: they have their fingers in all of these different pots

531
00:23:52,280 --> 00:23:53,840
Speaker 3: and not even I was gonna say not even Booze.

532
00:23:54,080 --> 00:23:57,120
Speaker 3: Liquid Death is like the face is the fancy water

533
00:23:58,160 --> 00:24:01,240
Speaker 3: Like guess who owns the dollars stake in Liquid Death

534
00:24:01,760 --> 00:24:05,080
Speaker 3: Live Nation charging stations if your phone dies at the

535
00:24:05,080 --> 00:24:06,520
Speaker 3: show that you can go to and I need to

536
00:24:06,560 --> 00:24:09,480
Speaker 3: quick charge, Yeah, they own a stake in those companies

537
00:24:09,800 --> 00:24:12,760
Speaker 3: as well. And the margins on those products and those

538
00:24:13,119 --> 00:24:16,880
Speaker 3: what seem like independent companies can be fifty percent or

539
00:24:17,200 --> 00:24:19,879
Speaker 3: more and these prices that they charge are astronomical, and

540
00:24:19,920 --> 00:24:22,400
Speaker 3: it is a part of the reason that two factions

541
00:24:22,400 --> 00:24:25,000
Speaker 3: of the federal government are going after Live Nation. Right now,

542
00:24:25,119 --> 00:24:27,320
Speaker 3: I gets similar to the airlines we talked about last week, right,

543
00:24:27,359 --> 00:24:29,520
Speaker 3: like you don't have to partake in most of these

544
00:24:29,560 --> 00:24:34,560
Speaker 3: different upgrades, but still our gripe is with the monopolistic

545
00:24:34,600 --> 00:24:37,280
Speaker 3: stranglehold right because it's almost like if you go to

546
00:24:37,320 --> 00:24:40,280
Speaker 3: our restaurant and you're saying, oh, all these menu items

547
00:24:40,320 --> 00:24:42,680
Speaker 3: are so expensive. Okay, well, you don't have to buy

548
00:24:42,680 --> 00:24:45,640
Speaker 3: those menu items, right, But it's as if Live Nation

549
00:24:45,720 --> 00:24:48,200
Speaker 3: and Ticketmaster, it's as if they're the only restaurant in town.

550
00:24:48,280 --> 00:24:49,679
Speaker 3: Like the big difference is that you can go to

551
00:24:49,720 --> 00:24:53,640
Speaker 3: another restaurant. But when it comes to these venues, these artists,

552
00:24:53,760 --> 00:24:55,640
Speaker 3: they don't have much choice when it comes to being

553
00:24:55,640 --> 00:24:57,280
Speaker 3: able to put on a show, and they have to.

554
00:24:57,560 --> 00:24:59,760
Speaker 3: There is no other choice, and that's where there's a

555
00:24:59,760 --> 00:25:01,320
Speaker 3: break down in the competition that's out there.

556
00:25:01,359 --> 00:25:04,399
Speaker 1: Well, then Live Nation is using different incentives to try

557
00:25:04,440 --> 00:25:06,840
Speaker 1: to push you towards buying the things inside of the

558
00:25:06,880 --> 00:25:10,480
Speaker 1: concert venue. So for instance, hey, for a while out

559
00:25:10,680 --> 00:25:14,119
Speaker 1: you could have brought your own chair in, but now

560
00:25:14,440 --> 00:25:17,639
Speaker 1: that's disallowed because they have an incentive to promote you

561
00:25:17,720 --> 00:25:20,480
Speaker 1: renting one of their lawn chairs that's like twenty bucks

562
00:25:20,520 --> 00:25:22,600
Speaker 1: for the evening or something like that. So there are

563
00:25:22,600 --> 00:25:26,400
Speaker 1: all these things that just make your concert going experience

564
00:25:26,440 --> 00:25:28,760
Speaker 1: so much worse, and so much of it comes down

565
00:25:28,800 --> 00:25:31,120
Speaker 1: to the fact that there's nobody else in the game

566
00:25:31,200 --> 00:25:33,800
Speaker 1: except for Live Nation. Now let's talk about real estate

567
00:25:33,880 --> 00:25:36,720
Speaker 1: for a second. Real estate investors are starting to do

568
00:25:37,119 --> 00:25:39,560
Speaker 1: what they always want to avoid. It's happening in higher

569
00:25:39,640 --> 00:25:41,840
Speaker 1: numbers right now. And the thing that every real estate

570
00:25:41,880 --> 00:25:46,800
Speaker 1: investor doesn't want to do is to sell, especially in

571
00:25:47,000 --> 00:25:49,120
Speaker 1: a time where they're forced to sell. And the Wall

572
00:25:49,160 --> 00:25:52,520
Speaker 1: Street Journal profiled some titans in the real estate industry

573
00:25:52,760 --> 00:25:55,359
Speaker 1: who have been forced to sell because of kind of

574
00:25:55,400 --> 00:25:58,879
Speaker 1: new economic realities in the housing market, particularly in the

575
00:25:59,320 --> 00:26:03,399
Speaker 1: office market, and work from home has kind of torched

576
00:26:03,440 --> 00:26:06,840
Speaker 1: their ability to make money right now. That's the toughest

577
00:26:06,840 --> 00:26:09,160
Speaker 1: part of the housing sector these days. And in other

578
00:26:09,400 --> 00:26:12,159
Speaker 1: real estate sectors, investors have been forced to sell too

579
00:26:12,520 --> 00:26:15,440
Speaker 1: because they were over leveraged, or maybe because they made

580
00:26:15,560 --> 00:26:17,480
Speaker 1: rosy assumptions that didn't turn out to be true, or

581
00:26:17,480 --> 00:26:21,239
Speaker 1: because they're financing wasn't as good as they thought it was.

582
00:26:22,119 --> 00:26:25,520
Speaker 1: Real estate can be a great investment, but market dynamics

583
00:26:25,680 --> 00:26:29,040
Speaker 1: or even just specific personal issues can lead to hard

584
00:26:29,080 --> 00:26:31,439
Speaker 1: times as a real estate investor. And so what we

585
00:26:31,560 --> 00:26:34,200
Speaker 1: have always said and what we'll continue to say is

586
00:26:34,240 --> 00:26:36,760
Speaker 1: if you opt to invest in real estate, being forced

587
00:26:36,800 --> 00:26:39,520
Speaker 1: to sell is one of the worst outcomes. And predicting

588
00:26:39,520 --> 00:26:42,160
Speaker 1: the pandemic that was impossible predicting kind of the trend

589
00:26:42,160 --> 00:26:44,280
Speaker 1: to work from home. That was also going to be

590
00:26:44,280 --> 00:26:46,560
Speaker 1: an impossible thing to do, right, You can't. Nobody had

591
00:26:46,560 --> 00:26:49,119
Speaker 1: that kind of foresight. But having the know how and

592
00:26:49,160 --> 00:26:53,160
Speaker 1: the financial reserves to back you up if your investment

593
00:26:53,440 --> 00:26:56,560
Speaker 1: falls on hard times. Let's say, if rents actually declined

594
00:26:56,640 --> 00:26:59,280
Speaker 1: year over year for multiple years on end, or you

595
00:26:59,359 --> 00:27:01,800
Speaker 1: have vake and see in a rental property that you

596
00:27:01,840 --> 00:27:05,000
Speaker 1: own for longer than you assumed. Right, that is crucial

597
00:27:05,040 --> 00:27:06,600
Speaker 1: to lasting over the long term. You got to have

598
00:27:06,760 --> 00:27:10,240
Speaker 1: the financial backup. You can't just become a real estate

599
00:27:10,280 --> 00:27:13,760
Speaker 1: investor with no money down and no money in reserves

600
00:27:13,800 --> 00:27:16,240
Speaker 1: like that. That puts you you're living on the razor's

601
00:27:16,320 --> 00:27:18,040
Speaker 1: edge if that's the route you take.

602
00:27:18,240 --> 00:27:19,600
Speaker 2: So the recipe for disaster.

603
00:27:19,800 --> 00:27:21,919
Speaker 3: And then on top of the home price growth is

604
00:27:22,200 --> 00:27:25,240
Speaker 3: slowing and if you were counting on that explosive growth

605
00:27:25,320 --> 00:27:27,760
Speaker 3: that we have seen over the past few years, I

606
00:27:27,800 --> 00:27:29,720
Speaker 3: think you're going to be let down. And on a

607
00:27:29,720 --> 00:27:32,360
Speaker 3: related note, friend of the show, Nick Midjulie, he recently

608
00:27:32,480 --> 00:27:35,200
Speaker 3: predicted and it's always fun to see folks predict stuff.

609
00:27:35,320 --> 00:27:36,480
Speaker 1: Because we'll see if you're right.

610
00:27:36,560 --> 00:27:39,399
Speaker 3: Yeah, but he predicted that that us home prices that

611
00:27:39,440 --> 00:27:42,880
Speaker 3: they won't keep up with inflation in the coming decade.

612
00:27:43,400 --> 00:27:45,840
Speaker 3: And this is, you know, despite what so many others

613
00:27:45,880 --> 00:27:49,000
Speaker 3: in the real estate space have predicted. And he might

614
00:27:49,000 --> 00:27:51,320
Speaker 3: be true, we'll just see. But real estate and influencers,

615
00:27:51,520 --> 00:27:53,800
Speaker 3: real estate agents, they want to make it sound like

616
00:27:53,840 --> 00:27:57,359
Speaker 3: buying a home is always a great idea, and it

617
00:27:57,440 --> 00:27:59,360
Speaker 3: might be for you. You know, it depends on where

618
00:27:59,400 --> 00:28:02,520
Speaker 3: you live, depends on your financial situation, which is what

619
00:28:02,640 --> 00:28:04,560
Speaker 3: Joel just spoke all about, and you need to be

620
00:28:04,640 --> 00:28:06,840
Speaker 3: in a solid position. It depends on how long you

621
00:28:06,880 --> 00:28:09,480
Speaker 3: plan on being there in that town, how long you

622
00:28:09,480 --> 00:28:11,560
Speaker 3: plan on owning that property. But it's certainly not a

623
00:28:11,600 --> 00:28:16,680
Speaker 3: slam dunk financial moves over the past decade, I know exactly.

624
00:28:16,720 --> 00:28:19,880
Speaker 3: And that's but people have like that short termism sort

625
00:28:19,920 --> 00:28:23,080
Speaker 3: of and they see, oh man, hous home prices of

626
00:28:23,160 --> 00:28:25,600
Speaker 3: skyrocket over the past three years. I better jump in

627
00:28:25,760 --> 00:28:28,960
Speaker 3: now while I can. But now we're leveraged to the

628
00:28:29,040 --> 00:28:31,520
Speaker 3: hilt and we've completely depleted our cast reserves. It leads

629
00:28:31,520 --> 00:28:32,240
Speaker 3: to a weak position.

630
00:28:32,320 --> 00:28:35,200
Speaker 1: We have heard from listeners over the years who found

631
00:28:35,760 --> 00:28:38,160
Speaker 1: not too long ago even where it's like, oh man,

632
00:28:38,240 --> 00:28:39,800
Speaker 1: I bought a house because I was told that's what

633
00:28:39,840 --> 00:28:42,000
Speaker 1: I was supposed to do, and it ended up not

634
00:28:42,040 --> 00:28:43,480
Speaker 1: being the best move for me. How do I get

635
00:28:43,480 --> 00:28:46,120
Speaker 1: out of this? And the transaction costs are high in

636
00:28:46,200 --> 00:28:49,440
Speaker 1: real estate and so it's a difficult thing to get

637
00:28:49,440 --> 00:28:51,120
Speaker 1: out of without losing your shirt if you're trying to

638
00:28:51,160 --> 00:28:53,320
Speaker 1: do it in short order. And Matt, we don't usually

639
00:28:53,360 --> 00:28:56,640
Speaker 1: throw dissenting listeners under the bus, but we had a

640
00:28:56,640 --> 00:28:59,000
Speaker 1: Facebook comments or recently in the how to Money Facebook

641
00:28:59,000 --> 00:29:02,680
Speaker 1: group and he basically said, worst advice ever to tell

642
00:29:02,720 --> 00:29:04,720
Speaker 1: people not to buy a home. And we're not telling

643
00:29:04,760 --> 00:29:06,960
Speaker 1: everyone blanket, don't buy a home. We're also not telling

644
00:29:06,960 --> 00:29:09,760
Speaker 1: everyone blanket do buy a home. We're saying there's a

645
00:29:09,760 --> 00:29:12,600
Speaker 1: lot of factors to consider. There's a lot of nuance.

646
00:29:12,800 --> 00:29:14,560
Speaker 2: Yeah, have a whole lot to consider.

647
00:29:14,400 --> 00:29:19,000
Speaker 1: Right, So, yeah, there is, there's not a blanket home

648
00:29:19,000 --> 00:29:22,080
Speaker 1: ownership is the way to wealth, or renting investing more

649
00:29:22,440 --> 00:29:24,280
Speaker 1: is the way to build wealth. So much of it

650
00:29:24,320 --> 00:29:27,960
Speaker 1: depends on a bunch of you know, personal and economic

651
00:29:28,000 --> 00:29:32,000
Speaker 1: macroeconomic considerations before you kind of hone in on the

652
00:29:32,040 --> 00:29:32,760
Speaker 1: right path for you.

653
00:29:32,880 --> 00:29:34,400
Speaker 3: Yeah, and this is coming from two dudes who have

654
00:29:34,400 --> 00:29:36,320
Speaker 3: done well in real estate, like you would think like that,

655
00:29:36,360 --> 00:29:38,960
Speaker 3: we would be on the train that would be beating

656
00:29:38,960 --> 00:29:42,600
Speaker 3: the drum of like everybody's got to own right multiple properties.

657
00:29:42,920 --> 00:29:44,800
Speaker 3: But dude, it's not twenty ten, it's not twenty eleven,

658
00:29:44,880 --> 00:29:49,840
Speaker 3: not twenty twelve anymore. It's harder and harder, not even ownership,

659
00:29:49,840 --> 00:29:51,720
Speaker 3: when it's even harder to get a deal when it

660
00:29:51,720 --> 00:29:52,920
Speaker 3: comes to investing in Really, yeah.

661
00:29:52,800 --> 00:29:55,400
Speaker 1: We're not going just based on our lived experience in

662
00:29:55,480 --> 00:29:59,200
Speaker 1: real estate. We're going based on like market conditions, marketing conditions,

663
00:29:59,520 --> 00:30:04,560
Speaker 1: historical realities, and like potential, the potential future of real estate,

664
00:30:04,560 --> 00:30:07,560
Speaker 1: which I think Nick Medjulie is sober about the future

665
00:30:07,640 --> 00:30:11,320
Speaker 1: and not overly optimistic, which I appreciate. And the truth is,

666
00:30:11,320 --> 00:30:13,240
Speaker 1: we are still suffering from a lack of inventory in

667
00:30:13,280 --> 00:30:15,280
Speaker 1: this country, which is part of the reason that he

668
00:30:15,400 --> 00:30:18,360
Speaker 1: might be wrong about his prediction. And Matt people are

669
00:30:18,400 --> 00:30:21,040
Speaker 1: actually starting to turn shopping malls into homes that could

670
00:30:21,080 --> 00:30:23,880
Speaker 1: be one of the ways to increase supply. And it's

671
00:30:23,960 --> 00:30:26,920
Speaker 1: kind of this twofer because people aren't visiting malls. I

672
00:30:26,960 --> 00:30:29,280
Speaker 1: can't tell you the last time I visited the mall

673
00:30:29,320 --> 00:30:31,880
Speaker 1: that's actually not too far away from us. People aren't

674
00:30:31,920 --> 00:30:35,000
Speaker 1: going like they did twenty years ago. Spencer's a hot topic,

675
00:30:35,280 --> 00:30:38,560
Speaker 1: just aren't attracting the foot traffic that they used to.

676
00:30:38,680 --> 00:30:40,360
Speaker 2: Don't think it has the same ring that it did

677
00:30:40,360 --> 00:30:41,000
Speaker 2: in ninety five.

678
00:30:41,120 --> 00:30:41,960
Speaker 1: No, no, it doesn't.

679
00:30:42,200 --> 00:30:42,360
Speaker 2: Well.

680
00:30:42,400 --> 00:30:44,680
Speaker 1: And even just like the big stores that were the

681
00:30:44,720 --> 00:30:48,320
Speaker 1: anchor stores, Macy's, JC, Penny's, Sears right like a lot

682
00:30:48,320 --> 00:30:50,480
Speaker 1: of this, I don't even think Sears exists anymore. And

683
00:30:50,520 --> 00:30:53,280
Speaker 1: then jac nobody goes to those other stores. And so

684
00:30:53,400 --> 00:30:56,280
Speaker 1: those spaces and their adjoining parking lots are being turned

685
00:30:56,320 --> 00:31:01,000
Speaker 1: into residential units, and other developers are finding other uses

686
00:31:01,040 --> 00:31:03,120
Speaker 1: for those spaces too, like hey, let's make like a

687
00:31:03,160 --> 00:31:06,600
Speaker 1: slew of pickleball courts and start charging people to come

688
00:31:06,720 --> 00:31:09,720
Speaker 1: play the game they're obsessed with. But as malls are

689
00:31:09,720 --> 00:31:13,479
Speaker 1: floundering and traditional retailers are folding and more of our

690
00:31:13,520 --> 00:31:17,200
Speaker 1: shopping does go online, turning malls into apartments and condos,

691
00:31:17,240 --> 00:31:18,560
Speaker 1: I don't know that makes a lot of sense for me.

692
00:31:18,680 --> 00:31:22,680
Speaker 1: Let's repurpose these big buildings into something the way people

693
00:31:22,720 --> 00:31:23,640
Speaker 1: are actually going to use them.

694
00:31:23,680 --> 00:31:24,480
Speaker 2: Now, Yeah, I will say.

695
00:31:24,480 --> 00:31:26,280
Speaker 3: I think the biggest challenge, though, might be for them

696
00:31:26,320 --> 00:31:30,760
Speaker 3: to convert these vast swaths of interior square footage into

697
00:31:31,080 --> 00:31:33,120
Speaker 3: units that people actually want to live in, right, because

698
00:31:33,160 --> 00:31:35,640
Speaker 3: it's like, think about especially those big box stores on

699
00:31:35,720 --> 00:31:38,520
Speaker 3: the it's one thing of the smaller stores that connect,

700
00:31:38,760 --> 00:31:40,959
Speaker 3: you know, like along the balcony or whatever like that

701
00:31:40,960 --> 00:31:42,280
Speaker 3: connect that like.

702
00:31:42,240 --> 00:31:45,360
Speaker 2: The Apple Store or gap. Yeah, like these like, oh yeah,

703
00:31:45,360 --> 00:31:46,400
Speaker 2: that could be a dope.

704
00:31:46,160 --> 00:31:48,440
Speaker 3: Place to live. I live in what used to be

705
00:31:48,520 --> 00:31:52,160
Speaker 3: the Sunglass Hut. But like when it comes to these giants,

706
00:31:52,240 --> 00:31:53,240
Speaker 3: just put me next to the spara.

707
00:31:53,360 --> 00:31:53,920
Speaker 1: That's all I ask.

708
00:31:54,760 --> 00:31:56,520
Speaker 3: Could you imagine waking up every morn in the smell

709
00:31:56,600 --> 00:32:01,440
Speaker 3: the smell of Anti ANNs. But these big box stores

710
00:32:01,480 --> 00:32:05,480
Speaker 3: that have so much interior square footage with no outside access,

711
00:32:05,520 --> 00:32:08,080
Speaker 3: with like no fresh air, Like that's some sort of

712
00:32:08,120 --> 00:32:10,320
Speaker 3: like dystopian living arrangement right there.

713
00:32:10,360 --> 00:32:10,520
Speaker 2: Man.

714
00:32:10,600 --> 00:32:13,680
Speaker 3: Like even even in Blade Runner he had a window,

715
00:32:13,840 --> 00:32:15,280
Speaker 3: you know, yeah.

716
00:32:15,080 --> 00:32:17,560
Speaker 1: Not to be smirts the name of the late Charlie Munger,

717
00:32:17,600 --> 00:32:19,560
Speaker 1: remember when he tried to create that dorm room with

718
00:32:19,600 --> 00:32:21,600
Speaker 1: like zero windows in it order. You're right, like, you

719
00:32:21,600 --> 00:32:23,240
Speaker 1: don't want to live in Nobody wants to live there.

720
00:32:23,280 --> 00:32:24,640
Speaker 1: There's go be a way to pull it off.

721
00:32:24,680 --> 00:32:26,479
Speaker 3: This is what they do in like China, like some

722
00:32:26,520 --> 00:32:30,280
Speaker 3: of those massive building developments that nobody well, I guess

723
00:32:30,280 --> 00:32:32,200
Speaker 3: they're tearing them down now because nobody like that. They

724
00:32:32,200 --> 00:32:34,960
Speaker 3: don't have the population, yeah to live there. Crazy to

725
00:32:34,960 --> 00:32:38,040
Speaker 3: think about, but Jael, let's talk about how more employers

726
00:32:38,240 --> 00:32:40,920
Speaker 3: are offering a four to one K match even when

727
00:32:40,920 --> 00:32:43,440
Speaker 3: you don't put any money into your four onin K.

728
00:32:43,520 --> 00:32:46,240
Speaker 3: How does that work? Well, this is an odd benefit,

729
00:32:46,280 --> 00:32:48,480
Speaker 3: but it's one that the Secure Act two point zero

730
00:32:48,520 --> 00:32:51,000
Speaker 3: that it made a reality this year. Even if you

731
00:32:51,000 --> 00:32:53,440
Speaker 3: don't contribute a dime to your four win K, but

732
00:32:53,560 --> 00:32:56,720
Speaker 3: you are paying on your student loans, well, your company

733
00:32:56,720 --> 00:32:59,120
Speaker 3: can opt to treat those payments as if you're making

734
00:32:59,400 --> 00:33:02,360
Speaker 3: four wind K contributions, which would allow them to then

735
00:33:02,400 --> 00:33:05,000
Speaker 3: stock money into your four one K on your behalf.

736
00:33:05,440 --> 00:33:06,880
Speaker 3: And this is great because I think it's true that

737
00:33:06,880 --> 00:33:08,160
Speaker 3: there are a lot of folks who have such a

738
00:33:08,240 --> 00:33:11,520
Speaker 3: high student loan payment that they find it difficult, if

739
00:33:11,560 --> 00:33:16,520
Speaker 3: not impossible, to contribute towards their retirement. And this simply

740
00:33:16,560 --> 00:33:18,520
Speaker 3: ensures that if they, you know, work for an ever

741
00:33:18,560 --> 00:33:21,000
Speaker 3: expanding group of companies who are going to offer this benefit,

742
00:33:21,440 --> 00:33:23,360
Speaker 3: they're not going to be completely left behind when it

743
00:33:23,360 --> 00:33:25,000
Speaker 3: comes to saving up for retirement.

744
00:33:25,120 --> 00:33:27,640
Speaker 1: Yeah, yeah, I think this is good news. And Fidelity

745
00:33:28,240 --> 00:33:30,840
Speaker 1: notes that more than one hundred companies have now made

746
00:33:30,840 --> 00:33:33,080
Speaker 1: this benefit available to their employees, and they're some of

747
00:33:33,080 --> 00:33:36,160
Speaker 1: the bigger companies in the country as well. That still

748
00:33:36,200 --> 00:33:38,800
Speaker 1: really only covers a small percentage of the workforce. But again,

749
00:33:38,880 --> 00:33:41,480
Speaker 1: this is a new benefit, like this only became law

750
00:33:41,520 --> 00:33:43,960
Speaker 1: the law of the land starting at the beginning of

751
00:33:43,960 --> 00:33:46,720
Speaker 1: this year, and we're likely going to see adoption I

752
00:33:46,720 --> 00:33:49,160
Speaker 1: think go up significantly in the coming years.

753
00:33:49,200 --> 00:33:50,760
Speaker 3: It's it's like when the four to one K first

754
00:33:50,800 --> 00:33:53,360
Speaker 3: came into existence. It's not like everyone all all of

755
00:33:53,360 --> 00:33:55,960
Speaker 3: a sudden had a four K. It's something that gradually ramped.

756
00:33:55,960 --> 00:33:58,080
Speaker 3: The same thing with a roth. Ira'sorts are like, who's

757
00:33:58,120 --> 00:33:58,440
Speaker 3: this name?

758
00:33:58,520 --> 00:33:58,720
Speaker 1: That what?

759
00:33:58,840 --> 00:34:02,280
Speaker 3: Senator oh, Senator au did this well, slowly over time

760
00:34:02,360 --> 00:34:06,200
Speaker 3: it became our favorite individual retirement account option. But it

761
00:34:06,240 --> 00:34:08,080
Speaker 3: takes time for it to gain some state.

762
00:34:07,960 --> 00:34:09,759
Speaker 1: And it takes people kind of clamoring for that, asking

763
00:34:09,840 --> 00:34:11,400
Speaker 1: their employer, asking their HR department.

764
00:34:11,440 --> 00:34:13,879
Speaker 3: Hey, which is why we're talking about it, for you

765
00:34:13,920 --> 00:34:14,720
Speaker 3: to ask your boss.

766
00:34:14,800 --> 00:34:17,640
Speaker 1: Yeah, other companies are offering this. My friend works down

767
00:34:17,680 --> 00:34:20,080
Speaker 1: the street and he's got this or she's got this

768
00:34:20,200 --> 00:34:23,399
Speaker 1: available where or she works. Can can I get that here?

769
00:34:23,480 --> 00:34:25,480
Speaker 1: What's going on? And they might say, hey, it's in

770
00:34:25,520 --> 00:34:27,239
Speaker 1: the works. Actually we know about this, we're planning on

771
00:34:27,320 --> 00:34:29,400
Speaker 1: offering it. But this is one of those benefits that

772
00:34:29,440 --> 00:34:33,680
Speaker 1: I think, especially for the younger crowd who has loads

773
00:34:33,680 --> 00:34:36,279
Speaker 1: of student loan debt like is going to ask to

774
00:34:36,280 --> 00:34:39,160
Speaker 1: be made available. And these are the kind of benefits

775
00:34:39,160 --> 00:34:42,000
Speaker 1: that go beyond just the headline pay number, that make

776
00:34:42,040 --> 00:34:45,000
Speaker 1: a big difference in your overall compensation package.

777
00:34:45,040 --> 00:34:45,680
Speaker 2: So that's right.

778
00:34:45,719 --> 00:34:47,960
Speaker 1: Be sure to check and see what sort of benefit

779
00:34:48,040 --> 00:34:50,439
Speaker 1: your current employee offers, or if you're in the job market, hey,

780
00:34:50,440 --> 00:34:52,120
Speaker 1: this is something you're going to want to at least

781
00:34:52,200 --> 00:34:56,000
Speaker 1: note whether that potential employer offers this kind of student

782
00:34:56,040 --> 00:34:57,080
Speaker 1: loan for one k match.

783
00:34:57,239 --> 00:34:58,880
Speaker 3: That's right, but that's going to be it for a

784
00:34:58,920 --> 00:35:01,719
Speaker 3: Friday flight. We hope everyone has a fantastic weekend, and

785
00:35:01,760 --> 00:35:04,480
Speaker 3: we'll see you back here on Monday with a fresh

786
00:35:04,719 --> 00:35:07,479
Speaker 3: set of listener questions for you, buddy. Until next time,

787
00:35:07,600 --> 00:35:09,520
Speaker 3: Best Friends Out, Best Friends Out,